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KaleyR
Level 3
October 20, 2022
Question

Form 990 Deprecation

  • October 20, 2022
  • 2 replies
  • 10 views

 I am working on a 990. They have purchased a new furnace, not sure what to categorize it under? G? 

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2 replies

IRonMaN
IRonMaN
Level 15
October 20, 2022

Choose what you think is appropriate based on the descriptions that pop up.

For the record, according to current statistics there are currently zero tax preparers incarcerated for making a mistake on the life of an asset on a 990 return 😉

Slava Ukraini!
    sjrcpa
    sjrcpa
    Level 15
    October 20, 2022

    I don't know what G is, but you're not supposed to use MACRS.

    The more I know the more I don’t know.
      IRonMaN
      IRonMaN
      Level 15
      October 20, 2022

      I don't have ProSeries open, but I'm pretty sure G stands for "good depreciation".

      Slava Ukraini!
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