How to Take Bonus Depreciation Amount in First Period of Asset Life - Two Possible Workarounds
(Doc ID 1278314.1)
Last updated on NOVEMBER 07, 2023
Applies to:Oracle Assets - Version 18.104.22.168 and later
Information in this document applies to any platform.
Oracle Assets' seeded bonus methods take the full bonus amount in the fiscal year the asset is placed in service. They do not take the entire amount in first period of life. Client wishes to take that bonus amount in first period of life.
For patching to obtain the seeded bonus methods provided within Oracle Assets, please see Consolidated Patches and Method Listing For Bonus AMT MACRS Methods Job Creation and Workers Assistance Act (Doc ID 383033.1). As the amount of bonus taken within the first fiscal year is the same between seeded methods and using the workaround below, it is recommended to use the seeded methods.
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