Ideas
Under Review

Add a report that would calculate the ADS adjusted basis of assets for purposes of the FDII and GILTI deductions

Background:

Under Section 250 of the tax law (as added by the TCJA, Tax Cuts and Jobs Act, in Dec 2017), some US corporations will need to know the ADS adjusted basis of their assets for each tax year to calculate the foreign-derived intangible income deduction (FDII) and the global intangible low-taxed income (GILTI) deduction.

Enhancement request:

Add a report that would calculate the ADS adjusted basis of assets, as of a user-specified period end date. The application would use the "ADS Life" field in the Tax book for the calculation.