jasdlm Posted April 14, 2009 Report Share Posted April 14, 2009 I'm not sure what method this 19 year depreciation is (or what convention). Prior preparer left both blank. Anyone know? Thanks. Quote Link to comment Share on other sites More sharing options...
jklcpa Posted April 14, 2009 Report Share Posted April 14, 2009 ACRS stands for accelerated cost recovery system. ACRS-19 was for real property property placed in service after 5/8/85 and pre-1987. ACRS was the predecessor to MACRS, the "M" meaning modified. This method used a table that was 19-year 175% declining balance with a mid-month convention. The table had yrs 1-20 down the column and the 12 months across the top. It should be fully depreciated by now. I looked at the input for the asset entry, and I believe the method you would choose is A19, and the convention code would be MM for mid-month. Quote Link to comment Share on other sites More sharing options...
jasdlm Posted April 14, 2009 Author Report Share Posted April 14, 2009 You rock. Thanks so much for all the excellent information! Quote Link to comment Share on other sites More sharing options...
jklcpa Posted April 14, 2009 Report Share Posted April 14, 2009 Thanks. I think it just shows how old I'm getting. :) Quote Link to comment Share on other sites More sharing options...
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