I have a client that calculates their depreciation using the IRS MACRS tables in an excel spreadsheet. In Lacerte it is calculating a different amount than they have. The asset is 15 year property using mid-quarter convention put into service in Oct 2013. On their spreadsheet they are using 5.9%, but Lacerte is calculating using 5.91%. I am not sure why, has anyone else had this issue?
Per the IRS Tables, 5.90 is correct for year seven, and year eight. Year nine is 5.91
If you are doing a 2021, that should be year nine. Maybe your client's excel - rather than Lacerte - is wrong?
The tables (Table A-2 - A-5) that I am looking at on the IRS website in Pub 946 for asset placed in service in Q2 or Q3 it is 5.91%, but for Q4 it is 5.9%. The asset was placed in service in Oct 2013.
Not much at all, less than $200. That is what I am considering doing - I was just wondering if anyone else had ran into this issue.
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