CCH Axcess Tax

Life/Rate

Enter the class life in years, recovery period in years, or the effective rate as a four digit decimal for depreciable assets. Life years is the preferable entry. The decimal rate is used as entered. Enter an effective rate for pre-ACRS ("Old Law") assets only.

Note: For amortizable assets, enter the life in the number of months. Do not enter a decimal rate.

Caution: Depreciation cannot be computed correctly without an entry in the "Life/Rate" field. The life defaults to an appropriate life based on the method entered.