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Jcampanella

Bonus Depreciation

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In 2023, 80% of asset purchases can have their depreciation booked immediately (so instead of spreading it over the useful life…the cost of the asset is booked to A/D immediately). How do we accomplish going back and taking the bonus depreciation in Sage on 2023 assets?

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    If the 168 Allowance Switch does not have 80% as an option, the application needs to be updated to a newer version.  Version 2024.1 is the current version.  

    Note that assets placed in service in 2024 will default a 60% bonus rate for the tax books under the current law

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    If the 168 Allowance Switch does not have 80% as an option, the application needs to be updated to a newer version.  Version 2024.1 is the current version.  

    Note that assets placed in service in 2024 will default a 60% bonus rate for the tax books under the current law

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