How does Asset Keeper work for Indian Reservation Property?
For qualified Indian Reservation Property placed in service after 1993 and before 2004, special MACRS recovery periods are provided that results in faster write offs. Asset Keeper has a special method, IN200, for Indian Reservation Property that will allow for shorter lives of 2, 3, 4, and 6 years. Since Indian Reservation Property is not subject to Alternative Minimum Tax (AMT), Asset Keeper will automatically assign the same depreciation method and life as your Federal method thereby eliminating any preference amount.
