Use this dialog to view a comparison of the application-calculated depreciation and the amount entered in the asset's Prior Depreciation field in the Asset Detail dialog. A tab is available in this dialog for each treatment that is calculating for the current client.
Note: If the asset is coded as listed property or luxury auto and was placed in service in a prior year, additional fields are available for you to enter the business use percentages for prior years. Business use percentages entered here apply to all treatment columns, not just to the Tax column.
To open this dialog, double-click an asset in the Asset List window to view its details, and then click the Prior Depreciation Comparison button, or choose Tasks > Prior Depreciation Comparison. To view the Prior Depreciation Comparison for other treatments, click the desired treatment tab at the top of the dialog.
Fields & buttons
Displays the amount entered for this asset and treatment in the Prior Depreciation field on the Depreciation tab of the Asset Detail dialog.
Displays the prior depreciation amount for this asset and treatment as calculated by the application based on other information that you have entered.
For the selected treatment only, click this button to overwrite the amount entered in the Prior Depreciation field in the Asset Detail dialog's Depreciation tab with the application-calculated amount displayed in the Computed Amount field above. The application makes the change and closes this dialog when you click this button.
Note: This button is enabled only if the amount in the Prior Depreciation field differs from the application-calculated amount for this asset.
For all treatments, click this button to overwrite the amounts entered in the Prior Depreciation fields in the Asset Detail dialog's Depreciation tab with the application-calculated amounts. The application makes the change and closes the dialog when you click this button.
Note: This button is enabled only if the amount in the Prior Depreciation field differs from the application-calculated amount for this asset.
The following field and button appear only if the asset is coded as listed property or luxury auto and was placed in service in a prior year.
The current year's business use percentage is displayed automatically in the Current year field and is used in calculating current-year and prior-year depreciation. If you change the percentage in the Current Year field, it will change the business use percentage on the Vehicle/Listed tab or on the Home Office tab.
Also enter the business use percentage for each of the prior five years, as applicable for the client. These percentages are used in calculating prior depreciation. The last field (Five years ago) is also used in calculating prior depreciation for any period earlier than five years ago.
Click this button to save any changes you have made in this dialog for the current- or prior-year business use percentages and close this dialog.
Note: This button is enabled only if the asset is coded as listed property or luxury auto and was placed in service in a prior year.