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AM04.1 - Personal Use
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.
**Processing Effect
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.
Updated Files
AMPUCODE -
Referenced Files
AMASTBOOK -
AMBOOK -
AMMETHOD -
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