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Depreciation Macrs SL/gds and SL/ads

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    Depreciation Macrs SL/gds and SL/ads

    need to extend some depreciation. Does all 5,7,10, 15, and 20 year property all have to be the same? I wanted to do 10,15, 20 yr property SL/ADS, and 5,7, yr property SL/GDS. Sftware won't let me select that way. (it would last year) is it allowable to do that way? Am I wrong and software right, or am I right and the software wrong?

    #2
    What you are trying to do should work. As long as all assets in the same "class" use the same method, you are okay. One "class" can use a different method than another "class". It sounds like it could be a software bug. I'm not aware of any changes in that regard.

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      #3
      One more thought: Are these assets placed in service this year? If so, my first answer stands. If not, you may not be able to change an asset that is already being depreciated.

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        #4
        no, all in 2016. i can change in the software by overriding, but I would prefer to go thru all the correct steps. But, just doesnt want to let me.. Thanks

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          #5
          You may want to contact your software company and ask them about it. It could just be a mistake that they can easily correct.

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