Current-year acquisition depreciation changed

The client's current-year MACRS acquisitions may now be calculating using the mid-quarter convention instead of the half-year convention. If 40% or more of the qualified current-year acquisitions were bought in the last 3 months, the application uses the mid-quarter convention to calculate depreciation.
For MACRS assets that are calculated using the mid-quarter convention, the words "Mid-quarter" show in blue at the top of the Depreciation tab in the
Asset Detail
window. Also, if the mid-quarter convention applies for a specific treatment, that treatment column heading shows in blue.
To view a summary of how many assets were placed in service each quarter, see the MACRS mid-quarter group box on the
Tax Summary
tab of the
Client Summary Information
window.
You can also print the MACRS Convention Detail report for each treatment to view a detailed determination of the mid-quarter convention test for the current client.

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