We have a requirement to implement bonus depreciation in our tax books for Oracle.
We would like to implement 50% bonus depreciation for our federal tax book for assets placed in service 1/1/2017 - 9/27/2017 for various methods. The tax department would like to have it work like the following:
asset has 3 year life = 36 months
50% bonus
asset cost = 10000
first year 1st month take take 50%*10000 = 5000
the remaining 36 months 5000/36 = 138.89
Is this possible?