UPC Code

[Taxcpa]

I have been looking everywhere and I can not find any guidance on UPC Bar Code purchase. I am specifically looking to see if this is considered intangible or fixed asset and what the life would be. Also I have an asset with an incorrect life transferred to a partnership. Can I just use the correct life on the BV of the amount that was transferred? Thanks in advance!

[ChEAr$]

I have been looking everywhere and I can not find any guidance on UPC Bar Code purchase. I am specifically looking to see if this is considered intangible or fixed asset and what the life would be. Also I have an asset with an incorrect life transferred to a partnership. Can I just use the correct life on the BV of the amount that was transferred? Thanks in advance!

By "upc bar code purchase", do you mean a scanner for this? or the software to be used on the computer to which scanner is connected?

As for the other asset, just transfer it at correct tax method (as opposed to the having used straight line method as I do for all assets for GAAP), then go forth and sin no more. grin