Opting out of 168 for 2023 for our 3 year assets

Question

Our accounting firm has come back and would like us to opt out of the 168 for 2023 for our 3 year assets.
What is the best way to make this update being we have already added all assets and run all depreciation for 2023.

Delray · Accepted Answer

Hello JWillman, 
 First you would create a group of your 3-year assets, and then run the 168-allowance switch to change the depreciation method to a non-168 method. See How to undo 168(k) allowance for more information. 
 ~Delray

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Opting out of 168 for 2023 for our 3 year assets

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