Dear all,
I am working on the US Stimulus Act of 2008 requirement which allows special 50% bonus depreciation for certain property placed into service after 12/31/2007 and before 01/01/2009.
According to my tax department, this requirement is applicable to the following tax depreciation area:
10 u2013 Federal Tax ACRS/MACRS
11 u2013 Alternative Minimum Tax
12 u2013 Adjusted Current Earnings
I created a new depreciation key Z200 (copy of M200) and assigned them to all the depreciation area aboe (for testing purpose). However, each depreciation area provided different result.
Depreciation Area 10 calculates depreciation based on declining balance which is correct. When the exact same depreciation key is being used in Depreciation Area 11 or 12, the depreciation calculation is based on straight line which is incorrect.
I can't seems to find the linkage in configuration which change the depreciation key behavior based on Depreciation Area. Can someone please point me to the right direction?
Any help will be greatly appreciated.
Thanks,
Cassandra