swaitsandClaude Opus 5.5
2f999c6050
check / check (push) Canceled after 0s
Book value is cost less what the books posted; the schedule's figure is apart. An asset's acquired date comes from its entry. Contributed property keeps its section 723 carryover basis apart from its depreciable basis (the lower of value and adjusted basis), with its 704(c) built-in gain and method. The K-1 worksheet reports tax-basis capital (Form 1065 Item L) beside the book figures, leaving open what only the CPA knows. Co-Authored-By: Claude Opus 5.5 <noreply@anthropic.com> Claude-Session: https://claude.ai/code/session_01T3gXMVt7XJPi6ens1or9Dj
3.3 KiB
3.3 KiB
Fixed assets
- Register with books.register_asset, inspect with books.asset_schedule and books.list_assets, post monthly depreciation with books.run_depreciation (exempt from the receipt policy; the schedule is the evidence), and dispose with books.dispose_asset (preview first; the bill of sale is the receipt).
- Depreciation is straight-line, book basis only; tax depreciation stays with the CPA.
- It accrues by the day: a partial first month, the final month and a disposal month are prorated by days (the disposal day is held), and the lifetime total is exactly cost minus salvage. A month skipped is caught up by the next run (books.run_depreciation says how much under caught_up; a material miss is a restatement for the CPA); a disposal dated inside a month already run credits the extra days back; one dated before a later month's run is refused until that run is reversed.
- Two dates: the in-service date (in_service_date: the day it is ready and available for its use) starts depreciation; the acquired date is the date of the entry that put it on the books (its purchase or a member's contribution: give it as acquisition_entry, dated on or before the in-service date), and puts it on the register. Something bought before it is used is on the register from the purchase and depreciates from the day it serves.
- Two accumulated figures, never confused: what the books carry (accumulated_posted: its depreciation runs, less any reversed) and what the schedule says is due by a date (accumulated_scheduled_through). Book value is cost less what the books carry; the difference is depreciation not yet run.
- Every asset gets a tag for the label on the thing itself (books.register_asset generates the next one, like FA-0001, unless the human has their own); record the manufacturer's serial number too, change either with books.label_asset, and print label sheets with books.asset_labels (give the human the PDF; print at 100% on Avery 5160/8160). Asset tools take the tag in place of the id.
- Record every asset's tax basis beside its book value (books.set_asset_tax_basis, or basis_rule on books.register_asset): purchase for something bought (basis is its cost); for a member's contribution, carryover_723 (their business property) or personal_use_conversion (their personal property), with the member's adjusted basis (cost plus improvements, less depreciation allowed or allowable) and its fair market value when contributed: ask the human for both and who says so (basis_source), never assume the value is the cost. Three figures follow, each named for what it is: the §723 basis (the member's adjusted basis), the depreciable basis (that basis; for personal use, the lesser of it and the value), and the §704(c) built-in gain or loss (value less §723 basis; a loss counts only for the contributing member). They are at contribution; tax depreciation, and what remains of the gain or loss later, are the CPA's. Record the §704(c) method (traditional, traditional_with_curative, remedial) once chosen with the CPA. Book value stays fair market value.
- books.export fixed_asset_register is the register for the CPA (posted and scheduled, every tax figure, reconciled to the books); the CPA package's k1-tax-basis-capital.csv carries each member's capital on the tax basis beside the book figures, with what only the CPA can supply left open. books.show asset opens one in the viewer.