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Reply from Ron Roberts on Feb 9 at 5:37 PM If you acquire an asset in April, depreciation will begin May 15. If you retire it in December, you will have depreciation from May 15 through the time determined by the period control for retirements (mid-November?). I don't know what you mean by "per IT rules". Please explain.
| | | ---------------Original Message---------------
From: RRKUMAR
Sent: Friday, February 05, 2016 5:57 PM
Subject: Depreciation Calculation On Retirement of Asset in Year of Acquistion is Wrong
The requirement is to set Depreciation Key for MACRS 50% Bonus Depreciation with a Mid Quarter Convention. The depreciation calculation is working fine on acquisition.
Issue: As per IT rules if an asset is acquired and retired in the same year, there should not be any depreciation expense. But in my case the depreciation is getting posted on retirement. Can anyone help me in fixing the issue?
Thanks |
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