Applying New Depreciation Bonus Codes to Existing Assets

This topic provides an overview on how to apply new depreciation bonus codes retroactively to eligible assets and update the existing asset profiles to ensure that newly added assets are automatically assigned the correct bonus depreciation and percentage.

Pages used to Apply New Depreciation Bonus Codes

Page Name Definition Name Usage

Bonus Extract/Report Page

AMSEC101_RQST

Add new depreciation bonus code to eligible assets and run the AMSEC101 process to apply the depreciation bonus to selected business units and asset profiles.

Bonus Review Page

ASSET_BONUS_REV

Review, add, or delete assets that the Bonus Extract/Report process page added to the temporary table.

Bonus Update Profile Page

AMSEC101A_RQST

Update existing asset profiles to automatically assign the new bonus depreciation code for assets added in future.

Bonus Extract/Report Page

Use the Bonus Extract/Report (AMSEC101_RQST) page to retroactively apply the bonus depreciation calculation to existing assets using a range of business units and add new depreciation bonus codes to eligible assets.

Navigation:

Asset Management, and then Depreciation, and then Bonus Retro Calculation, and then Bonus extract/Report

This example illustrates the fields and controls on the Bonus Extract/Report page. You can find definitions for the fields and controls later on this page.


Bonus Extract/Report page

Field or Control Description

Run Control ID

Displays the unique name for the run control.

Run Mode

Select the run modes. The options are

  • Extract/Report
  • Extract 50% Bonus Only
  • Extract Only
  • Prepare for Depreciation
  • Report Only

Include Assets with Bonus

Only select to indicate the assets you are updating have already had another type of bonus applied to them.

Business Unit From and Business Unit To

Select one Business Unit or a range of Business Units.

New York Liberty Zone Zip Code

Only select if the prior depreciation applied to the assets used a New York Liberty Zone type of bonus depreciation.

Schedule Code

Only select if the prior depreciation applied to the assets used a bonus depreciation schedule code.

Book Name

Select the tax book with bonus depreciation.

Profile ID

Enter the asset profile ID used to create the assets.

Depreciation Bonus

Select the prior bonus code applied to the assets.

Depreciation Bonus Percent

Enter the prior bonus depreciation percentage applied to the assets.

Run

Select to run the Bonus Extract/Report process (AMSEC101), selecting the option for creating an extract with or without a report. The extract identifies the assets based on the profile IDs, books, depreciation bonus and percentage that you entered that meet the requirements for the new depreciation bonus and inserts them into a temporary table.

Bonus Review Page

Use the Bonus Review (ASSET_BONUS_REV) to view, add, or delete assets in the bonus extract temporary table.

Navigation:

Asset Management, and then Depreciation, and then Bonus Retro Calculation, and then Bonus Review

This example illustrates the fields and controls on the Bonus Review page. You can find definitions for the fields and controls later on this page.


Bonus Review page

Field or Control Description

From Acquisition Date, To Acquisition Date, From In Service Date,

and To In Service Date

Select From Acquisition Date, To Acquisition Date, From In Service Date, and To In Service Date to narrow down the search results.

Update Bonus Details

Select the values for depreciation bonus and percent in the group box and then use the Update button to apply them to one or more assets selected from the Asset Search Results upon saving.

Search

Searches for assets that match the search criteria you selected.

Clear

Clears the fields on the page so you can start a new search.

Select All

Selects all the assets displayed.

Delete

Deletes the selected rows.

Select

Select one or more assets to apply the bonus details.

Asset ID

Displays the Asset ID.

Limit Cd Change

System needs to validate against a table that stores limit codes.

Acquisition Date and In Service Date

These are related display fields. The Acquisition Date is fetched from Asset record. The In Service Date is fetched from the Asset Book record.

Remove any ineligible assets by clicking the ‘-‘ button on the asset row and update the new Depreciation Bonus code with the applicable bonus percentage.

Save the bonus details and you can return to the Bonus Extract/Report page to run the process again using the Prepare for Depreciation option to update all of the selected assets with the new depreciation bonus code and percentage.

Bonus Update Profile Page

Use the Bonus update profile (AMSEC101A_RQST) page to update your existing asset profiles to ensure the new bonus depreciation is automatically assigned for the assets added in the future.

Navigation:

Asset Management, and then Depreciation, and then Bonus Retro Calculation, and then Bonus Update Profile

This example illustrates the fields and controls on the Bonus Update Profile page. You can find definitions for the fields and controls later on this page.


Bonus Update Profile

Field or Control Description

Set ID

Select the Set ID to enter the profile details.

Delete 2026/2027 effective dated rows related Tax Cuts and Job Act bonus for all asset profiles

Select this checkbox if you currently have 2026 and 2027 effective dated asset profile rows for the Tax Cuts and Job Act bonus depreciation.

Profile ID, Book Name

Add each Profile ID and Book that needs to be updated with the new bonus depreciation code.

Select Run to add the new bonus depreciation code to the asset profiles indicated and to delete any 2026/2027 effective dated rows for the Tax Cuts and Job Act bonus depreciation.