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Lacerte Depreciation calculation

Core - DS
Level 2

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?

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4 Comments 4
abctax55
Level 15

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?

HumanKind... Be Both
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Core - DS
Level 2

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.

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sjrcpa
Level 15

How much difference in dollars are we talking?

Can you override to client's amount?

The more I know, the more I don't know.
Core - DS
Level 2

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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