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Form 990 Deprecation

KaleyR
Level 2

 I am working on a 990. They have purchased a new furnace, not sure what to categorize it under? G? 

0 Cheers
3 Comments 3
IRonMaN
Level 15

Choose what you think is appropriate based on the descriptions that pop up.

For the record, according to current statistics there are currently zero tax preparers incarcerated for making a mistake on the life of an asset on a 990 return 😉


Ukraine - hang in there
sjrcpa
Level 15

I don't know what G is, but you're not supposed to use MACRS.


Ex-AllStar
IRonMaN
Level 15

I don't have ProSeries open, but I'm pretty sure G stands for "good depreciation".


Ukraine - hang in there