I need help trying to tax reporting depreciation where the client posts 50% of acquisition value as bonus depreciation the 1st year with monthly depreciation at 50%. The following years as noted below:
How do I setup my depreciation type and is there anything else I need to do? Thank you!! - Lori
Acquisition Price | 50,000 |
Date Placed in Service | 1/10/2013 |
Depreciation Months | 36 |
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1st Year Depreciation |
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Period 1 -Bonus Depreciation | 25,000 |
Period 1-12: |
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Monthly Depr - ((bonus Depr/3yrs)*.5)/12 | 347.22 |
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2nd Year (NBV/24months) | 868.06 |
3rd Year | 868.06 |