Property not qualified (GO Zone/168(k)/168(n))

If you are editing an asset and the 168(k) (force) field in the Other tab has no data, Onvio Fixed Assets automatically determines whether the following types of assets are considered property that is not qualified for section 168(k) bonus depreciation.

GO Zone: Automatic calculation as not qualified

If you are editing an asset and the 168(k) (force) field in the Other tab has no data, the following assets are automatically considered property that is not qualified for bonus depreciation.

  • Assets placed in service before 8/28/05 or after 12/31/07.
  • Assets placed in service between 8/28/05 and 12/31/07 that depreciate using:
    • Any MACRS method with a life of 27.5 or higher.
    • MACRS SL ADS Life and MACRS 150% ADS Life over any life.
    • Amortization with any amortization section other than "167 - Computer software" selected in the Asset Detail dialog's Other tab.
    • Straight-line, 125% DB, 200% DB, Years Digits, Units of Production, Memo, Land, or custom methods.

168(k): Automatic calculation as not qualified

If you are editing an asset and the 168(k) (force) field in the Other tab has no data, the following assets are automatically considered property that is not qualified for section 168(k) bonus depreciation.

  • Assets placed in service before 9/11/01, or between 1/01/05 and 12/31/07, or after 12/31/14.
  • Assets placed in service between 9/11/01 and 12/31/04 or 1/01/08 and 12/31/19 depreciated using:
    • Any MACRS method with a life of 27.5 or higher.
    • MACRS SL ADS Life and MACRS 150% ADS Life over any life.
    • Amortization with any amortization section other than "167 - Computer software" selected in the Asset Detail dialog's Other tab.
    • Straight-line, 125%DB, 200%DB, Years Digits, Units of Production, Memo, Land, or custom methods.

Disaster Area: Automatic calculation as not qualified

If you are editing an asset and the 168(k) (force) field in the Other tab has no data, the following assets are automatically considered property that is not qualified for Disaster Area bonus depreciation.

  • Assets placed in service before 1/1/08.
  • Assets placed in service after 12/31/07 depreciated using:
    • Any MACRS method with a life of 27.5 or higher.
    • MACRS SL ADS Life and MACRS 150% ADS Life over any life.
    • Amortization with any amortization section other than "167 - Computer software" selected in the Asset Detail dialog's Other tab.

GO Zone, Disaster Area, and 168(k): Forced calculation as not qualified

When Prop not qualified (GO Zone/168(k)/168(n)) is selected in the 168(k) (force) field in an asset's Other tab, the asset is considered to be property that is not qualified for bonus depreciation.


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