removeps-groups[at]yahoo.com wrote:
[...]
- quote -

Yes, if those were your only assets placed into service in the current
year. You met the 40% test.

- quote -

You think that is confusing? Suppose you have a short tax year, such as
an S-corp that begins operation on Sept. 1st. If you put 40% or more of
your acquired assets for the year into service on Oct 1st, you must use
the MQ convention because you met the
last-three-months-of-the-calendar-year test, even though it was only the
second quarter of your short tax year.

AFAIK, the IRS never (normally) gets a copy of depreciation worksheets,
only the annual depreciation expense amount from form 4562.

-Mark Bole

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On Apr 17, 2:17 pm, "Paul Thomas, CPA" <paulthomascp...[at]bellsouth.netwrote:

- quote -

Is one GDS and the other ADS? What I want to know is the difference
between straight line GDS and straight line ADS.


- quote -

If you placed a printer into service on March 1, what convention would
that be? Seems like it would be half-year because the 40% rule is not
met. But if in the last 3 months of the year you put another printer
(of the same price) into service, then one would use the mid-quarter
convention for both printers with a different quarter for each. Is
that correct? That's a pretty confusing rule. What happens if one
uses mid-quarter for everything?

- quote -

What about electing ADS? What I wondering is that AMT and Califirnia
return may be simpler if you use the slower method.

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<removeps-groups[at]yahoo.com> wrote
- quote -


Straight line.



- quote -



Straight line.



Now ask about the convention.


The second example is a mid-year convention.




- quote -



What convention you can use - or in some cases have to use - will depend on
when the assets are placed in service.




- quote -



You elect TO use Section 179, not the other way around.





--
Paul A. Thomas, CPA
Athens, Georgia

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Where can I find the tables for SL using GDS and SL using ADS (that
are referred ton page 38 of publication 946)? If you have 5 year
property and take 20% a year for 5 years, what method is that? If you
take 10% in 1st and 6th year, and 20% in the other 4 years, then what
method is that?

Do you have to use the half year convention, or can you use choose
between half -year and mid-quarter?

Can you elect SL using either GDS or ADS, and can you elect not to use
Section 179? If you do this, then will the AMT adjustment to
depreciation be zero? And will the California depreciation (which I
think does not allow very rapid depreciation -- see quote below) be
the same as federal?

<Quote source="http://ftb.ca.gov/forms/07_forms/07_3885.pdf"
Other consistent methods. Other depreciation
methods may be used as long as the total
accumulated depreciation at the end of any
taxable year during the first 2/3 of the useful life
of the property is not more than the amount that
would have resulted from using the declining
balance method.

</Quote
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