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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