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title	Full Month Convention Sample Computation

Given Data:

Depreciation Type : Mid-Month

Duration : 2 years

Year 1 : 50%

Year 2 : 50%

Asset Cost : 360

Salvage Value : 240

Basis : 360 - 240 = 120

Monthly Depreciation Formula

Basis * Year Percentage / Number of Months in a year

This is marked as Fully Depreciated when Total Months = Depreciated Months

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title	Imported Assets

G

iven Data:

Depreciation Type : Mid-Month

Duration : 2 years

Year 1 : 50%

Year 2 : 50%

Asset Cost : 360

Salvage Value : 240

Basis : 360 - 240 = 120

Imported : Yes

Placed in Service: 12/31/2020

Imported Depreciation thru:12/31/2021

Depreciation to date GAAP: 7075

Monthly Depreciation Formula

Basis * Year Percentage / Number of Months in a year

Year #	Month #	Date	Transaction	Computation		Depreciation To Date
1	1	12/31/2020	Place in service			0.00
1	1	12/31/2020	Depreciation	0	0	0
1	2	01/31/2021	Depreciation	0	0	0
1	3	02/28/2021	Depreciation	0	0	0
1	4	03/31/2021	Depreciation	0	0	0
1	5	04/30/2021	Depreciation	0	0	0
1	6	05/31/2021	Depreciation	0	0	0
1	7	06/30/2021	Depreciation	0	0	0
1	8	07/31/2021	Depreciation	0	0	0
1	9	08/31/2021	Depreciation	0	0	0
1	10	09/30/2021	Depreciation	0	0	0
1	11	10/31/2021	Depreciation	0	0	0
1	12	11/30/2021	Depreciation	0	0	0
2	1	12/31/2021	Depreciation	0	0	0
2	2	01/31/2022	Depreciation	120 * .5 /12	5.00	80.00 (7075.00+105.00)
2	3	02/28/2022	Depreciation	120 * .5 /12	5.00	85.00
2	4	03/31/2022	Depreciation	120 * .5 /12	5.00	90.00
2	5	04/30/2022	Depreciation	120 * .5 /12	5.00	95.00
2	6	05/31/2022	Depreciation	120 * .5 /12	5.00	100.00
2	7	06/30/2022	Depreciation	120 * .5 /12	5.00	105.00
2	8	07/31/2022	Depreciation	120 * .5 /12	5.00	110.00
2	9	08/31/2022	Depreciation	120 * .5 /12	5.00	115.00
2	10	09/30/2022	Depreciation	120 * .5 /12	5.00	120.00
2	11	10/31/2022	Depreciation	120 * .5 /12	0	120.0.00 (Reached Max dep due to imported value
2	12	11/30/2022	Depreciation	120 * .5 /12	10	120.00

This is marked as Fully Depreciated when Total Months = Depreciated Months

This is marked as Fully Depreciated when Total Months < Depreciated Months

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