The following critical diagnostic is generating,
Depreciable Asset #: Method inappropriate for Date Acquired. (ref. #2025012)
Solution Description
This diagnostic generates when:
- An asset is entered with a date placed in service of 12/31/1980 (or earlier) using an ACRS method, or
- Method 92 or 93 is selected for an asset placed in service after 12/31/1980.
Solution #1- To resolve this diagnostic for an asset placed in service on 12/31/1980 or earlier:
- Go to the Depreciation screen:
- Screen 22 (Individual)
- Screen 14 (Partnership)
- Screen 21 (Corporate)
- Screen 16 (S Corporate)
- Screen 27 (Fiduciary)
- Screen 39 (Exempt Organization)
- Click on the Asset from the left navigation panel.
- Select one of the applicable Methods from the drop down menu:
- 91 = Straight Line
- 92 = 200% Declining Balance
- 93 = 150% Declining Balance
- Scroll down to the Federal Depreciation section.
- Locate the Regular Depreciation subsection.
- Enter the Life or class life (recovery period automatic).
Solution #2- To resolve this diagnostic for an asset placed in service after 12/31/1980:
- Go to the Depreciation screen:
- Screen 22 (Individual)
- Screen 14 (Partnership)
- Screen 21 (Corporate)
- Screen 16 (S Corporate)
- Screen 27 (Fiduciary)
- Screen 39 (Exempt Organization)
- Click on the Asset from the left navigation panel.
- Select the applicable MACRS or ACRS method from the Method drop down menu.
- Assets placed in service after 1980 and before 1987 should use an ACRS method.
- Assets placed in service after 1986 should use a MACRS method.
