Note: Versions of the program prior to 2021.1 do not have the option to take 80 allowance on assets Placed in Service in 2023. It is reccomended to update to version 2023.1 or higher

When applying the 168 Allowance switch, only qualified assets placed-in-service in the year entered will change. See How to apply 168 allowance.  

Qualifying assets:

• Activity Code is A (Active). (Assets that have not been involved in a Transfer or Disposal.)
• Placed-in Service date is 09/11/2001 to 12/31/2004 or 01/01/2008 to 12/31/2027.
• Depreciation method is a MACRS method or SF.
• Property type is P, A, T, Q, R, S, C, E, or F.
• Estimated Life Less than 25 years (certain properties with a 39 year life do qualify)
• Business use is 51% or greater.

Dates when 168 Allowance Percentage apply:

• Assets Placed in Service between 09/11/2001 to 05/22/2003 to the 30% allowance
• Assets Placed in Service between 05/23/2003 to 12/31/2004 to the 50% allowance
• Assets Placed in Service between 01/01/2008 to 09/07/2010 to the 50% allowance
• Assets Placed in Service between 09/08/2010 to 12/31/2011 to the 100% allowance
• Assets Placed in Service between 01/01/2012 to 09/27/2017 to the 50% allowance
• Assets Placed in Service between 09/28/2017 to 12/31/2022 to the 100% allowance
• Assets Placed in Service between 01/01/2023 to 12/31/2023 to the 80% allowance
• Assets Placed in Service between 01/01/2024 to 12/31/2024 to the 60% allowance
• Assets Placed in Service between 01/01/2025 to 12/31/2025 to the 40% allowance
• Assets Placed in Service between 01/01/2026 to 12/31/2026 to the 20% allowance