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We took special depreciation allowance of 50% on the vehicles we purchased in 2010. Per IRS publication 946, the maximum depreciation deduction for passenger automobiles placed in service in 2010 is $ 11,060 if you claim the special depreciation allowance. GP calculated the depreciation for 2010 as only $ 10,960 which was the limit for 2008 and 2009. How do we get current limits into the system?
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The limits are code based and not held on any table. These values are code based. As such you need to update to the latest service pack to get the correct values. See the following article for more information:
919947 Changes occur in the luxury automobile tax limits for depreciation schedules in Fixed Assets in Microsoft Dynamics GP
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