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Level 5
January 28, 2021
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Fixed Asset Manager and Bonus Depreciation

  • January 28, 2021
  • 2 replies
  • 23 views

Is there a way to make a universal check mark to elect out of bonus depreciation? Or do we have to go through each asset.  We need to run scenarios with and without the full bonus depreciation.

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Best answer by dascpa

Sorry but no. It's asset by asset in FAM.

2 replies

dascpa
dascpaAnswer
Level 11
January 28, 2021

Sorry but no. It's asset by asset in FAM.

    rbynaker
    rbynaker
    Level 13
    January 28, 2021

    That's my understanding also.  Depreciation is just math though.  So if you know the total assets placed in service by class life you can figure out what the "elect out" number will be.  Then you can wiggle "elect out by category" and/or Section 179 elections to arrive at whatever number you'd like that's in between no bonus and 100% bonus.

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