Hello Scott,

Thank you for not writing a multi-part question on Monday.

1. The Mid-month convention will only be applied when an asset is Placed in Service or Disposed. When an asset is transferred, the depreciation is stopping at one location and starting at another. The disposal convention just does not apply during a transfer transaction.
   
   
2. When you say Gap period, I think you mean to stop depreciation for an asset being held for sale which would mean running depreciation to the month depreciation is to be stopped, changing the Depreciation Method to NO and answering Yes-Current Thru Date to the questions (See How to stop depreciation on an asset being held for sale).
   
   For the like kind exchange, the depreciation from the disposed asset will be carried forward in the Replacement asset. On the replacement asset, the Beginning date will be the month prior to the disposal, and the Beginning YTD and Accum will be that as of the start of the asset being held for sale. Then the depreciation will appear on reports between the disposed asset which was stopped and then the replacement will continue the calculation on the asset going forward.
   
   See How to do a like-kind exchange post 01/02/00 Property Type P, R for the details of the replacement asset on a LKE.
   
   
3. “Correct” is a very vague term. I have read portions of the tax code and have gotten completely different meanings from it at different times. Without specific, detailed, information there would be no answer to this question. And even then, it is usually a judgment call, preferable made with your Tax Advisor.
   
   
4. The most efficient way to adjust multiple assets, is to not to have to go back and adjust the assets.
   
   We error on the side of paranoia when it comes to changes to book information so that you must look at each individual assets and make a decision on how that change will be applied to that asset. With the exception of the 168 Allowance switch to apply the special depreciation to the Tax book, no mass changes to critical values are allowed in the SFA program.

Delray - thanks for your timely reply - meeting with the team at 12:30pm EST. I will pass on to see if they have any more questions based on this reply. I do have one question. This was my first post. I am sorry if I didn't follow forum etiquette. Your first line "Thank you for not writing a multi-part question on Monday" was the "not" a typo or should I have broken this up into 4 different posts. thanks again! Scott

That was me trying to be funny

Also - I was able to pull down article 17215, but unable to find article 17533 Please advise. thanks.

The Entitlement on the Article 17533 requires that you be logged into the Customer Portal before viewing it.

I thought I was...but I tried again and pulled it down. thanks!