Asset Keeper determines whether an asset should be included in the calculation to determine if midquarter convention applies based on whether the asset qualifies for Section 179. There is a currently a combo box on the method page of the Add / Edit screen that is used to identify assets that qualify for Section 179. The Add / Edit screen below shows the combo box used to indicate if an asset qualifies for Section 179.
Add / Edit screen, method's page ( Version 24 )
For the most part, this has worked well, since most assets that qualify for Section 179 should also be included in the calculation to determine if the midquarter convention. However, there are a few cases where assets that do not qualify for Section 179 should still be included for midquarter convention determination.
In V25, we’ve added a check box to include these assets in the calculation for determining if the midquarter convention should apply. The screen sample below shows the new check box that has been added to the method’s page.
Add / Edit screen, method's page ( Version 25 )
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