Tired/confused-depreciation question

[artp]

Pleading confused. Does anyone know what ALT depreciation method is? Prior accountant tax depreciation scheduled showed a 2007 SUV with a purchase price of $31,912 and 2008 bus use 49.84% business use %, no special allowance or Sec 179 taken in prior year, 5.0 YR life HY convention and A/D of $ 3879 and 2008 depreciation of $ 2672. I cannot work back to those figures. Client cannot find 2007 return or depreciation schedule and prior accountant went out of business. Can you give me a hand on this? Thanks

[kcjenkins]

I'd guess ALT means Alternative.

[artp]

I'd guess ALT means Alternative.

OK ..but what does that mean? All I see in MACRS, ADS, ect

[jainen]

>>cannot find 2007 return<<

Let's make a TV show about a forensic accountant who reconstructs depreciation schedules from obscure clues everyone else is missing. ALT will mean Add Laugh Track.

[artp]

>>cannot find 2007 return<<

Let's make a TV show about a forensic accountant who reconstructs depreciation schedules from obscure clues everyone else is missing. ALT will mean Add Laugh Track.

OK Jainen, I am glad you got a chuckle out of it.

[Terry D EA]

I don't know for sure if I can help with this or not but here goes. The ALT, in my opinion, is the Alternative Depreciation Systems also known as ADS which you have identified. The alternative depreciation system has some fairly strict usage and once elected is irrevocable and usually gives a slower rate of recovery. Also, the ADS must be used which figuring the AMT. I have tried to come up with the figures you presented and am having trouble backing into it as well. Given more time, and that is not a luxury right now, I think this can be figured out. Here is a suggestion, see if your client is open for an extention that will allow you the extra time to work on the math. In the mean time,check out the depreciation tables in the my link below and see if they might be of any help. I tried only one of the tables that I thought were appropriate and still the numbers are off. The worse case scenario here is having to correct the depreciation from the previous year which will require amending that return.

My link

[artp]

I don't know for sure if I can help with this or not but here goes. The ALT, in my opinion, is the Alternative Depreciation Systems also known as ADS which you have identified. The alternative depreciation system has some fairly strict usage and once elected is irrevocable and usually gives a slower rate of recovery. Also, the ADS must be used which figuring the AMT. I have tried to come up with the figures you presented and am having trouble backing into it as well. Given more time, and that is not a luxury right now, I think this can be figured out. Here is a suggestion, see if your client is open for an extention that will allow you the extra time to work on the math. In the mean time,check out the depreciation tables in the my link below and see if they might be of any help. I tried only one of the tables that I thought were appropriate and still the numbers are off. The worse case scenario here is having to correct the depreciation from the previous year which will require amending that return.

My link

Thanks, I did try the ADS tables too. I will check out your link. Appreciate your reply.