AM04.1 - Personal Use
**Form purpose
Use Personal Use (AM04.1) to define what should happen to depreciation and
tax credit calculations if an asset falls below a certain percentage of
business use. This program lets you recapture depreciation, change the
depreciation method and asset life, set yearly maximum depreciation amounts,
recapture tax credits, and set maximum tax credit amounts.
**Prerequisites
None
**Required fields
All the fields on the Depreciation Options form tab are required except for
Optional Method and Life.
On the Tax Credit Options form tab, only Below Qualifying Percent and Below
Prior Year Use Percent are required.
**Decision/Impact
- If you select Y (Yes) in the Method Below Qual Percent field, you must
define an alternative depreciation method in the Method field.
- You can define an alternative life for the asset, whether or not you
define an alternative depreciation method.
- You can indicate whether Asset Management should depreciate any remaining
book value of an asset if it has not been fully depreciated over its asset
life.
- If you select Y (Yes) in the Annual Limits field, the system opens the
Depreciation Limits form tab, and you must define depreciation limits for at
least year. You can define limits for up to 20 years.
- On the Credit Tax Options tab, you can set a maximum credit tax amount to
use if the business use falls below the percentage specified in the Business
Use Percent field; you can also set another maximum tax credit amount to use
if the business use falls below the previous year's business use.
**More help
- Before using this program, you should carefully evaluate its tax
implications as they relate to your own situation.
- To generate a listing of existing personal use codes, run System Setup
Listings (AM200).
Updated Files
AMPUCODE - Used to store personal use codes, which asset books use to
calculate depreciation.
CKPOINT - Accessed by common routine; not used by this program.
Referenced Files
AMASTBOOK -
AMBOOK - Used to retrieve the book description and currency code.
AMMETHOD - Used to retrieve the method description.
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