Why is bonus not showing in current YTD for some of my assets that were placed in service for 2023? has anyone see this?
Why is bonus not showing in current YTD for some of my assets that were placed in service for 2023? has anyone see this?
ok I cant figure out how to insert a picture but the layout is as follows, notice how one asset shows bonus on the current ytd while the other does not. these assets are in the same company so they should in theory be following the same rule.
PIS Date | acq value | method | life | Salv/168/179 | Depr Basis | Prior Thru | Prior Accum Depr | Current YTD Depr | current acuum Depr |
07/01/23 | 5070.32 | ma200 | 5 |
4056.26 |
1014.06 | 0 | 144.87 | 4201.13 | |
07/01/23 | 10,934.30 | ma200 | 5 | 8747.44 | 2186.86 | 0 | 9059.85 | 9059.85 |
Hello Lauren,
Ok, if these are Property Type A assets, the 168 amount is not hitting the limit so it is calculating depreciation on the remaining basis which is why you are seeing a YTD of these.
The same would be true for all other assets since the 168 amount is 80%, there is some amount available to do a further calculation after the 168 allowance reduces the basis.
~Delray
Hello Lauren,
Ok, if these are Property Type A assets, the 168 amount is not hitting the limit so it is calculating depreciation on the remaining basis which is why you are seeing a YTD of these.
The same would be true for all other assets since the 168 amount is 80%, there is some amount available to do a further calculation after the 168 allowance reduces the basis.
~Delray
property type P
and *7year life. apologies i miswrote that in the example
*Community Hub is the new name for Sage City