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Asset Lifecycle Management - PSFT (MOSC)

80% Bonus Depreciation Setup?

Aug 24, 2023 4:29PM in Asset Lifecycle Management - PSFT (MOSC) 4 commentsAnswered ✓

PeopleSoft Financials 9.2 Img 24 / Tools Release: 8.59.07

There is a new legislation that is requiring a bonus depreciation rate of 80% on assets added in 2023, 60% in 2024, 40% in 2025 and 20% for 2026.

Is there a way to set this up so that only the US Federal Tax book captures this data without affecting the Corp Book?

Is there documentation similar to this document Doc ID 2940062.1 that is for JD Edwards but for Peoplesoft?

Please let me know,

Thank you!

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