Calculation of depreciation for monthly clients

For assets that aren't depreciating with an ACRS or MACRS method, the holding period won't include the month the asset was placed in service, if it was placed in service after the 15th of the month. However, the monthly depreciation calculation will include the month the asset was placed in service.
For example, a straight-line asset placed in service on 31 January will show an 11-month holding period, but the monthly depreciation calculation will divide the total depreciation for the year by 12 months.
To view the current depreciation calculation for an asset, open the asset detail and select
Tasks
, then
Display Calculation
. In the
Display Calculation
window, the
Tax
tab, shows:
  • The months the asset was held in the Holding Period pane.
  • The total yearly depreciation and the monthly depreciation (total depreciation divided by 12) in the Depreciation Pane.
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