Depreciation Spreadsheet allows you to track and record your assets and calculate the depreciation deduction for each one of their recovery periods. The spreadsheet includes the following tabs:

                Assets

                Depreciation Sheet for 5-year recovery period type of assets except passenger automobiles

                Depreciation Sheet for 7-year recovery period type of assets

                Depreciation Sheet for cars used for both business and personal purposes

                Depreciation Sheet for cars used for business only

                Depreciation sheet for residential rental property

                Depreciation Sheet for nonresidential real property

                Depreciation Summary Sheet to record depreciation calculated on single tabs

                Note for a basic description of how to use the depreciation spreadsheet.

 

What is included?

The download includes 2 Excel spreadsheets:

Depreciation Spreadsheet

Depreciation Spreadsheet-Example

To depreciate an asset you use in your business, you would need Appendix A and B from IRS Publication 946 How to Depreciate Property to locate the recovery period of your asset and the depreciate rate to use to calculate the depreciation deduction to claim on the asset every year.

The depreciation spreadsheet allows to record your asset and information you retrieve from IRS Publication 946 and calculate your asset depreciation.

Depreciation Spreadsheet-DS22821

You can claim as business expense, the depreciation of your assets every year on your business tax return. Use the depreciation spreadsheet to keep the proper record that allows you to claim yours!

2020 Federal Tax Forms and Instructions

Save time and find the links to the right IRS Tax Form and Instructions for your business.

 

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