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Terry Todd
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Sage Fixed Assets: Optional update for Sage Fixed Assets-Depreciation

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AMT depreciation adjustment change
In January 2017, the instructions for Form 4626, Alternative Minimum Tax-Corporations, were revised to state that an AMT adjustment is not to be made if the taxpayer elects out of the special depreciation allowance (currently 50%). Previously, there was an adjustment for qualifying property that used 200% declining balance (MF200 or MT200 in Sage Fixed Assets). This change applies to assets placed in service after December 31, 2015.
About the update 
This update is available for version 2017.1 and is for taxpayers who elect out of the special depreciation allowance, '168 Allowance', and once installed will:
  1. Allow your assets to be changed in bulk, from methods MF150 and MT150 to MF200 in the AMT book. 
  2. Default MF200 in the AMT book for newly added assets, if the Tax book is using MF200.
Should you install this update?
Check with your tax advisor. If you plan to elect out of the special depreciation allowance for assets placed in service in 2016 and are subject to AMT tax normally, you likely want to install the update. If you take the special depreciation allowance, you do not need to install this update. The changes in this update will be included in the next full Sage Fixed Assets release. 
Download and resolution
Follow the steps in Sage Knowledgebase article 81674 to apply this update. 
Questions?
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