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TVPX 1031 Depreciation Solution 3.7 - User Guide and FAQScreenshots - More DetailsDepreciation Depreciation is a decrease in value due to wear and tear of the asset. For accounting purposes this can be taken as an expense to fixed assets. Inventory, stock in trade, land, and art work can not be depreciated. Intangible items, such as Goodwill, also can not be depreciated, but they can be amortized over 15 years. Depreciation Methods ADS - Alternative Depreciation System, the depreciation is figured the same, as MACRS except the straight-line method is used, over the ADS recovery period, with the appropriate convention. Straight Line - Cost divided by the asset's life. This method is usually used for book depreciation. Double Declining - 150% or 200 % Method. Most of the depreciation is taking at the beginning of the asset's life. MACRS The modified accelerated cost recovery system. Tax method used for assets placed in service after December 31, 1986. Sum of the Years Digits -This method takes most of the depreciation in the early years of the asset's life. The asset's cost is multiplied by a fraction calculated by adding the years in an asset's life together to become the denominator. The numerator is the years in the asset's life in their reverse order. Screenshots - More Details |
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