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For the STAT accounting basis, the sum of the credit loss (tag 7358) and non-credit loss (tag 7359) must be equal to the total impairment amount. See the following example.
STAT Accounting Basis | |
|---|---|
Local Cost Adjustment (tag 7350) | 900 |
Credit Loss Local Adjustment (tag 7358) | 500 |
Non-Credit Loss Local Adjustment (tag 7359) | 400 |
For comparison: For Non-STAT accounting bases, the credit loss field (tag 7358) must be equal to the local cost adjustment (tag 7350). Additionally, edits to the Book Impairment Adjustment panel prohibit the non-credit amount (tag 7359) from exceeding the amortized cost value on the lot. See the following example.
Accounting Basis Other than STAT | |
|---|---|
Local Cost Adjustment (tag 7350) | 900 |
Credit Loss Local Adjustment (tag 7358) | 900 |
Non-Credit Loss Local Adjustment (tag 7359) | 400 |