- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Where do I change convention from HY to MQ/
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
The software should do that itself if everything is entered in correctly.
Slava Ukraini!
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Pay particular attention to the dates the assets were placed in service.
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Here is the problem. When I change an individual asset to MQ from HY, the system tells me I have to use MQ for all assets acquired in 2019. So I changed them all to MQ but the error message isn't going away. My client has many different properties so there are a lot of acquisitions.
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Is that a §1245 property? When was it placed in service? How much is the cost basis of that property relative to other properties placed in service during the year?
Still an AllStar
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Most of the property was Sec. 1250. I am trying to enter assets entered by my client into her depreciation system. The ones I have errors on, I think are overidden and incorrect. They are walls a pond, and some gas lines. I di not think the Mid quarter convention can be used for these.
Thanks to all for your help.