Fixed Assets D1 calculation rounding problems??

[chiefcook2002]

There is a slight variation in the tax calculation due to the rounding of the calculated amount. For an asset, the vanilla program R12855 (in Xe) computed depreciation with 14.28571% instead of 14.29% from IRS Table A-1. I want to keep method of computation to be "I" because we need perform some catch up and keep on several assets.

Method 12 provides an option to match with IRS table. However, method 12 designed to round to 4 significant digits. Method 05 rounds to 8 digits, which provides a difference in what I am seeing.

Do you know how to address the rounding problems D1 ledger?

Any help will be appreciated...

 

[mburnhors]

Isn't the valid Comp Method still exclusive of 'I' according to the US tax
law? Because if it is, you cannot use 'I' for Method 12. It is illegal
according to the US tax code and that is the law enacted by Congress a long
time ago. Has the law changed?

As far as the accuracy goes, I'd worry about that nil.




In a message dated 9/9/2009 3:47:51 P.M. Mountain Daylight Time,
[email protected] writes:

There is a slight variation in the tax calculation due to the rounding of
the calculated amount. For an asset, the vanilla program R12855 (in Xe)
computed depreciation with 14.28571% instead of 14.29% from IRS Table A-1. I
want to keep method of computation to be "I" because we need perform some
catch up and keep on several assets.

Method 12 provides an option to match with IRS table. However, method 12
designed to round to 4 significant digits. Method 05 rounds to 8 digits,
which provides a difference in what I am seeing.

Do you know how to address the rounding problems D1 ledger?

Any help will be appreciated...