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Depreciation Method Switch from MACRS 100B H to MACRS HY retroactively

edited Aug 26, 2020 2:09PM in Fixed Assets - EBS (MOSC) 1 commentAnswered

We have the following situation for a group of about 7000 assets and would like your help on how to achieve the desired result:

Sample Asset:

-------------------------------

Date Place In Service 1-Feb-19

Depreciation Method MACRS 100B H

Life Year 7 Years

Original Cost 66,976.54

Cost Adjustment in JUL-19 with Amortization Flag set to Yes New Cost: 67,283.73

Depreciation Period Depreciation Amount

FEB-19 6,088.78

MAR-19 6,088.78

APR-19 6,088.78

MAY-19 6,088.78

JUN-19 6,088.78

JUL-19 6,139.97

AUG-19 6,139.97

SEP-19 6,139.97

OCT-19 6,139.97

NOV-19 6,139.97

DEC-19 6,139.97

Total 67,283.73

Now our Accounting/TAX Department wants to switch the Depreciation Method to MACRS HY (7 Year) with retroactive effect.  They are expecting the following results after the switch:

Year                 2019  2020    2021    2022    2023    2024    2025   2026

Annual Rate .14286 .2449 .17492 .12495 .08925 .08925 .08925 .04462

Expected

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