Asset Entry

[helow]

Hello

I have two issues I hope you woud help me with.

1) How can I break the cost of land and building in Asset Entry form? I went to my county auditor website to separate taxable value for the land and building and then used the percentage allocation used by the auditor to allocate purchase price.

2) I also noted the value allocated to the building is different from the value of last year, resulting in different depreciation amount. The basis for the building will have different value each year if I use the value from the county website.

How do you handle these situations.

Thanks

Laga

[zeke]

You enter assets for year of acquisition ONLY. The county may well change evaluation and/or percentage over the years, but that does NOT change your acquisition data. Just enter that building as 1 asset and the land as another asset - category N (non depreciable).

Hope this helps.

z

[helow]

Thanks much.