Quarter Number

Enter the quarter (1, 2, 3, or 4) that a prior year MACRS asset was placed in service if subject to the mid-quarter convention. This entry is mandatory to compute depreciation amounts on such prior year assets correctly. Do not make an entry in this field for current year acquisitions. If the mid-quarter convention applies, the correct quarter is computed and Pro Formaed for next year's processing.

To force a convention to be applied to all current year MACRS assets, use the the Depreciation and Depletion Options and Overrides worksheet, Depreciation Options section, MACRS convention code field.

See Also

IDC Code (Depletion only)

Using the Sale Number Box