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  1. #1
    5 Star Lounger
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    doCalcuating tax year (2003)

    In <post#=487022>post 487022</post#> I asked about getting a quarter number for fiscal years. I now need to do something similar. I've studied that post and am not sure its formula does what I need. I need to come up with a year number to be used in selecting the tax depreciation rate to be applied to an asset. In US tax depreciation, there is a convention-the half year convention-which says you get only one-half of a full year in the first year. You get the other half at the tail-end. So a 3-year asset needs 4 years to fully depreciate. I am trying to develop a formula that will give me the year number, based on a Fiscal year of 3/31/yy. I then use that year number in the two-way lookup table. I have experimented with a couple of things, but they don't seem to work. In the attached file, a 3-year asset's example shows what's wrong. Lines 3 and 8 ought to show 1 because they both fall into the 4/1/04-3/31/05 fiscal year.
    All this may be exceedingly simple. The problem is, so am I. Any thoughts on what adjustment needs to be made would be helpful. I will probalby extend the schedue to show by-year amounts, so that the formula would become a column header in row 2.

  2. #2
    Uranium Lounger
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    Re: doCalcuating tax year (2003)

    Test this in cell H3, copied down:

    =DATEDIF(D3,$H$2,"Y")+1

    It should work better because your fiscal year is not calendar year.
    -John ... I float in liquid gardens
    UTC -7ąDS

  3. #3
    5 Star Lounger
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    Re: doCalcuating tax year (2003)

    Thanks... I will try it on the 1300 assets I need to apply this to. I was hung-up in interpreting the 9-month adjustment of the earlier post...we'll see if this works.

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