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Calculation > Bonus Depreciation Elections dialog
Use this dialog to select the asset classes that are electing out of the bonus depreciation deduction per IRS Code section 168(k) or 1400N.
note
Whether or not current and prior depreciation calculate the additional depreciation for a qualified asset depends on whether the asset's class follows section 168(k) or 1400N or has elected out.
To open this dialog, select the
Bonus Depreciation Elections
button in the Setup, Options, and then Calculation tab.Fields & buttons
note
- All asset classes follow section 168(k) and 1400N by default.
- This dialog contains tabs for current and prior years.
Qualified 30%: Elect Out of Bonus Depr
Using the checkboxes that are available for each asset class, you can choose to elect out of the 30% bonus depreciation for qualified 30% bonus depreciation assets for the selected year.
Select the
Elect All
button to have all asset classes elect out of 30% bonus depreciation for the selected year. After you select the Elect All
button, its name changes to Unmark All
.Qualified 80% / 100%: Elect Out of Bonus Depr
Using the checkboxes that are available for each asset class, you can choose to elect out of the 50% / 100% bonus depreciation for qualified 50% / 100% bonus depreciation assets for the selected year.
Select the
Elect All
button to have all asset classes elect out of 50%/100% bonus depreciation for the selected year. After you select the Elect All
button, its name changes to Unmark All
.note
If you elected out of bonus depreciation for qualified 50% / 100% bonus depreciation property, the corresponding checkbox in the Qualified 50%/100%: Elect 30% Bonus Depr column is not available.