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Error in IRS Pub 946
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Fred J. Tydeman
Dec 18, 2023, 10:09:46 AM12/18/23
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IRS Pub. 946, table A-13, page 83
Residential Rental Property Placed in Service After 2017
Straight Line--30 Years
Mid-Month Convention
Year 1, month 4: is 2.371%
Should be (8.5/12)/30 = 2.361%
How do we know which other items are wrong?
How do we get this fixed?
---
Fred J. Tydeman Tydeman Consulting
tyd...@tybor.com Testing, numerics, programming
+1 (702) 608-6093 Vice-chair of INCITS/C (ANSI "C")
Sample C17+FPCE tests: http://www.tybor.com
Savers sleep well, investors eat well, spenders work forever.
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ira smilovitz
Dec 18, 2023, 11:10:06 AM12/18/23
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On Monday, December 18, 2023 at 10:09:46 AM UTC-5, Fred J. Tydeman wrote:
> IRS Pub. 946, table A-13, page 83
> Residential Rental Property Placed in Service After 2017
> Straight Line--30 Years
> Mid-Month Convention
> Year 1, month 4: is 2.371%
> Should be (8.5/12)/30 = 2.361%
>
> How do we know which other items are wrong?
> How do we get this fixed?
>
> ---
> Fred J. Tydeman Tydeman Consulting
> tyd...@tybor.com Testing, numerics, programming
> +1 (702) 608-6093 Vice-chair of INCITS/C (ANSI "C")
> Sample C17+FPCE tests: http://www.tybor.com
> Savers sleep well, investors eat well, spenders work forever.
>
> --
It's not truly "wrong". There is a 0.01% rounding error when you use the full year rate of 3.333% for 30 years. The IRS chose to include the rounding error in the first or last year rate depending on which year had more than 6 months of depreciation. The "error" you noted can be found in the year 1 rates for property placed in service during months 1-6, and in the last year rate for property placed in service during months 7-12.
> IRS Pub. 946, table A-13, page 83
> Residential Rental Property Placed in Service After 2017
> Straight Line--30 Years
> Mid-Month Convention
> Year 1, month 4: is 2.371%
> Should be (8.5/12)/30 = 2.361%
>
> How do we know which other items are wrong?
> How do we get this fixed?
>
> ---
> Fred J. Tydeman Tydeman Consulting
> tyd...@tybor.com Testing, numerics, programming
> +1 (702) 608-6093 Vice-chair of INCITS/C (ANSI "C")
> Sample C17+FPCE tests: http://www.tybor.com
> Savers sleep well, investors eat well, spenders work forever.
>
> --
Ira Smilovitz, EA
Leonia, NJ
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