CCH Axcess Tax

Current Depreciation

Enter the gross current year depreciation or amortization amount whenever using the "Code to Force" option. If zero depreciation is desired, enter a zero. The amount entered is multiplied by the computed business percentage.

If the asset qualifies as Section 168(k) and a "Code to Force" is used, enter the amount of the bonus depreciation amount to be deducted on the Depreciation and Amortization worksheet, General section, Bonus Depreciation field.

If a "Code to Force" entry is made for an asset and a current depreciation amount is not entered, the computed depreciation amount carries to Form 4562 and throughout the tax return. A diagnostic message is issued indicating the computed amount was used.

If an amount is entered in "Current Depreciation" and a "Code to Force" is not entered for an asset, then the asset is printed on the Federal Depreciation Variance Report when there is a difference. This report shows the "Accountant" and "CCH Axcess" computed depreciation amounts and the "Variance." The "CCH Axcess" computed amount will be used in the return. The report is collated in the beginning of the accountant's copy of the tax return.

Note: Accountant forced depreciation is not limited to the undepreciated basis. Negative depreciation is allowed only when using the "Code to Force" option.