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MACRS System is highly regulated and adds quite a bit of complexity to the simple depreciation formulas. You should consult IRS Publication to determine how to depreciate your property for tax purposes. Even though the MACRS includes a straight-line and declining balance method, the Depreciation Schedule on this page should not be used for tax reporting, because it doesn't take into account the different conventions in the MACRS half-year, mid-quarter, and mid-month.
Salvage Value S n : The salvage value is the estimated value of the asset at the end of the depreciation period. Depreciation Period n or Recovery Period : This is the estimated useful life or service life of the asset in years. Depreciation Basis C-S n : The depreciation basis is the portion of the cost used to calculate the depreciation and is usually the cost minus the salvage value.
However, for some methods like declining-balance depreciation or the accelerated cost recovery system ACRS , the depreciation basis is the unadjusted full purchase price. Book Value BV j : The book value is simply the difference between the purchase price and the accumulated depreciation. The book value at the end of 5 years of depreciation is denoted BV 5.
The book value is used for accounting and calculations. It does not have anything to do with the market value of the asset. In the declining balance depreciation method , the book value at the end of the depreciation period does not equal the salvage value.
Date Placed in Service : Unlike the MACRS which applies a half-year, mid-quarter, or mid-month convention and requires knowing when the asset is placed in service, the depreciation methods included in the Depreciation Schedule require only specifying the first year that the asset is placed in service.
Excel Straight-Line Depreciation SL Straight-line depreciation is the simplest depreciation method to calculate. Cost C : This is the purchase price or cost of the asset.
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