Frequently asked depreciation questions

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General application questions

What is the asset module?

Are there keyboard shortcuts I can use?

How can I modify the Asset Detail dialog?

Where can I learn about specific menus and toolbars used in the application?

Where can I get definitions of common terms and phrases?

Data-entry questions

How do I mark that an activity qualifies as trade or business for Section 199A?

How do I dispose of a section 1245 asset as a like-kind exchange for tax years beginning in 2018 and later?

How do I move assets from one client or activity to another?

How do I transfer assets or a portion of an asset to another activity or association?

How do I transfer multiple assets simultaneously?

How do I dispose of part of an asset?

How do I dispose of multiple assets?

How do I not report sold or scrapped assets on Form 4797?

Which Vehicle/Listed property type should I use?

When would I use the MACRS method as opposed to the MACRS SL Class Life method?

How does the application handle like-kind exchanges for IRS Notice 2000-4 and Reg. 1.168(i)-6?

Calculation questions

How does the application handle bonus depreciation?

Why is the application calculating the current-year acquisitions' current depreciation differently after I enter a current-year asset?

How do I force an asset to calculate using the mid-quarter convention?

Why does the application calculate the gain or loss for the disposal of an asset without adjusting the basis for the section 179 expense that was previously taken?

Why does the Method/Life Wizard use a five-year MACRS life for Furniture & fixtures - rental assets acquired after 12/31/96?

How do I apply the luxury auto limitations to the Book treatment?

What are the three section 179 features?

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