How to enter software assets in Sage Fixed Assets?
Description
- Section 179/Bonus is grayed out for property type Z.
- 179 bonus depreciation field is grayed out when using property type Z.
- Cannot enter 179 bonus depreciation with property type Z.
- Cannot enter 179 bonus depreciation for off-the-shelf computer software.
- SB is not a valid method with property type Z.
- Unable to calculate 30% tax depreciation of Software.
- Amortizable software.
- Property type Z.
- Unable to calculate 50% tax depreciation of software.
- Off-the-shelf software.
- Software.
- How to enter software?
- How to code software?
Resolution
These Assets can be either Amortize or take the 168(k) Allowance.
- 167 property: Depreciated Property
- Property type P
- Method: SB
- Estimated life: 3 years
- SB gets the 168(k) 30%/50%/100% allowance.
- On the 4562: 168(k) Allowance appears in Part II Line 14 in the year of Acquisition.
- On the 4562: Calculated Depreciation will appear on in Part II Line 16
- 167 property: Depreciated Property with Section 179
- Property type P
- Method: SF or SB (SF + 168(k) Allowance)
- Estimated life: 3 years
- Enter the Section 179/Bonus Amount.
- SB gets the 168(k) 30%/50%/100% Allowance.
- On the 4562: 168(k) Allowance appear in Part II Line 14 in the year of Acquisition.
- On the 4562: Calculated Depreciation if any will appear in Part II Line 16.
- SF gets no 168(k) allowance
- On the 4562: Calculated Depreciation if any will appear in Part II Line 16 in the year of Acquisition.
- Section 179/Bonus Amounts appears under Part I of the 4562 in the year of Acquisition.
- 197 property: Amortized Property
- Property type Z
- Method: SL
- Estimated life: 3 years
- SL does not get the Section 168(k) or Section 179
- On the 4562: Amortized Property shows in Part VI Line 42 and 43.