Hello. Is anyone familiar with MACRS depreciation with 168(k) Bonus allowance?
We have a number of assets in our old system (we used SAGE Fixed Assets before and have a Tax book there that we use to calculate depreciation for tax purposes) that we would like to move to IFS that use the aforementioned depreciation method.
For example, we have this asset with a 168(k) allowance % of 50% and a depreciable % of 200
In the default depreciation methods, I see this the depreciation method below but there doesn’t seem to be a field where you can specify the 168 Allowance %. Is there a way to set up a depreciation method similar to below but with a 168 Allowance % ?
I would appreciate any suggestions or ideas. Thank you.