200% declining depreciation on an asset put in service in 2015. Why is this giving me an error "Reference# 2025012"?

Forum|Forum|6 years ago
December 6, 2019
4 replies
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Best answer by itonewbie

For double declining balance method to be applied correctly under MACRS, you need to select "MACRS - #-year %...." # corresponds with the class life of the asset. Double declining balance is working fine with me.

If you are still getting an error message after trying this, please provide more info about what you have entered and where you see the error.

George4Tacks

Level 15

What depreciation code did you use? What time period? When put into service?

Answers are easy. Questions are hard!

R

ryann

Level 2

I am also getting this error for an item with 150% method and 2012 year of service...

George4Tacks

Level 15

@ryann I can only ask what code you are using? Be sure it is a MACRS code and not just 150%DB. Look at the excellent answer ITONewbie gave.

Answers are easy. Questions are hard!

itonewbieAnswer

Level 15

For double declining balance method to be applied correctly under MACRS, you need to select "MACRS - #-year %...." # corresponds with the class life of the asset. Double declining balance is working fine with me.

If you are still getting an error message after trying this, please provide more info about what you have entered and where you see the error.

---------------------------------------------------------------------------------Still an AllStar

Q

qwertyui

Level 3

thank you so much @itonewbie this is helpful!

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