(USA) Defining Qualified Investment Codes
To set up qualified investment codes, use the Qualified Investment Codes (QIV) component.
This topic provides an overview of qualified investment codes and lists the page used to define qualified investment codes.
|
Page Name |
Definition Name |
Usage |
|---|---|---|
|
Qualified Investment |
QUAL_INV |
Add or modify qualified investment codes. Enter a unique ID to add a new code. Define the life expressed as periods in Compare Life. The life entered here is validated against the asset's useful life. |
When one or more tax credits are taken for an asset, you may need to adjust the basis of that asset before additional credits can be computed. PeopleSoft Asset Management uses the Qualified Investment Codes to determine the portion of the asset's basis that qualifies for the tax credit. Eligibility for each code is determined by the effective date compared to the placed-in-service date for the asset. In addition to tax credits, standard Qualified Investment Codes corresponding to a specific tax system and life are included with the delivered tableset.