Fixed Asset Method not Calc'ing Half Period

[Chair7]

Fixed Asset Method not Calc\'ing Half Period

Our consultants just left and we found that one of our Methods is not calc'ing right in the disposal year. Frist off is this the right forum or should I be in the App forum. Trying to see if anybody else has used this method and what their set up was.

Dep Method: 01 - Straight Line
Term Apportionmnet: P - Middle of Period
Compute Direction: I - Inception to Date
Life: 378 Periods (Standard Tax Nonresidentail Real Property Mid-Month Convention Straight Line-31.5 from IRS table).

We are using a 999 method and looking for help on what the Depreciation Formula should be. Our current setup is not calc'ing the half period in the disposal period.

Clarke

 

[dratkowiak]

Re: Fixed Asset Method not Calc\'ing Half Period

Could you include waht your formaula looks like right now?

 

[Chair7]

Re: Fixed Asset Method not Calc\'ing Half Period

Actually we have two methods that are giving us problems one for 378 Months and one for 468 months. Both are the same except for the months. Our Formulas are as follows:
Dep Formula:  ((10/03)*49)*56
Basis Formula:  01+02
Lower/Upper Limit Formula: Blank

 

[Chair7]

Re: Fixed Asset Method not Calc\'ing Half Period

We actually have two methods that are having this problem. one for 31.5 years and one for 39 years. Our set up is as follows:

Deprication Formula:  ((10/03)*49)*56
Basis Formula:  01+02
Lower/Upper Limit Formula: Blank
Disposal Year Apportionment % (56): Not sure if right but think it is 2 (taken from Annual Multiplier column)

If I can get this method to work I can learn to understand the formula's which inturn will let me learn how to correct some other methods.

Clarke