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Calculation

Force the property type bonus depreciation

Fixed Assets CS automatically calculates the bonus depreciation deduction for treatments that comply with each type of bonus for:
  • Assets placed in service between 9/11/01 and 12/31/04 or 1/1/08 and 12/31/26
  • Assets marked as located in the GO Zone between 8/28/05 and 12/31/07
  • Assets marked as located in a Disaster Area and placed in service after 12/31/07 for disasters declared after 12/31/07 and happening before 1/01/10
If the assets depreciate:
  • Over 20 years or less using any MACRS method (other than MACRS SL ADS Life or MACRS 150% ADS Life), as long as the MACRS class life hasn’t been elected out.
  • Using Amortization with 167 - Computer Software selected in the
    Amortization section
     field on the asset's
    Other
     tab, as long as Computer Software 167 (168(k)) hasn’t been elected out.
For some qualified assets, you need to enter a bonus depreciation type.
To force the property to calculate (or not calculate) the bonus depreciation deduction, perform the following steps.
  1. Open the client and, if necessary, select an activity folder.
    Open the Asset List window for an activity.
  2. In the
    Asset List
     window, double-click the asset you want to force a GO Zone/168(k) code for.
  3. In the
    Asset Detail
     window, select the
    Other
     tab.
  4. In the
    GO Zone/168(k) (force)
     field, select the type of property.
  5. Select
    Done
     to return to the
    Asset List
     window.
    note
    If you've marked the
    Used
     checkbox in the
    Asset Detail
     window,
    Prop not qualified (GO Zone/168(k)/168(n))
     is automatically selected in the
    GO Zone/168(k) (force)
     field.

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