Fixed Assets - EBS (MOSC)

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Adding Assets from Acquisition to tax book

edited Apr 5, 2018 5:02AM in Fixed Assets - EBS (MOSC) 6 commentsAnswered

I work for Company A which was formed in 2010.  We recently acquired company B and I have been told that for the tax book for assets I need to keep the original asset cost and any accumulated depreciation that was taken prior to acquisition.  I used the tax interface to accomplish this for most of the assets however, they have a number of assets that were placed in service prior to 1/1/2010.  I cannot seem to get the depreciation to work out correctly for those assets.  As an example:

Asset 123 was placed in service 3/31/08 at a cost of 1320.30 using 150DB and a life of 15 years.  The depreciation reserve at 12/31/2017 was 1107.54 and the depreciation for 2018 from 1/1 to date of acquisition was 6.50. 

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