Depreciation Reports

Forum|Forum|1 year ago
November 24, 2024
2 replies
4 views

I'm looking for a report in Lacerte that shows an assets complete depreciation life based on the information I've entered. Does anyone know if this is avaiable?

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strongsilence

Level 10

Are you looking for a report that shows depreciation BY YEAR? If so, I don't think that exists in Lacerte. I doubt that it does.

@Eric Brown Cincinnati CPA

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DatabaseRobertLTUG

Level 5

The only thing Lacerte has is date, method, current (if overridden) and prior (sum of previous years' "current" [forced or calculated]). So no, not broken down by each individual year's value.

If you export their spreadsheet of depreciation, you can use the name, date in service, and method in your own spreadsheet pages to look up the tables and math it out yourself.

This is a trivial exercise for a spreadsheet driver to build. Point them at the IRS Pub with all the tables to import and you're golden.

George4Tacks

Level 15

I recommend Tax Tools. This can produce that report and so much more. It really is a TOOL for tax professionals.

https://www.taxtools.com/products_tt.aspx click through the tabs to see the long list of features.

You can download a free demo to try it. I love it's tax planning tool and find it much easier than Lacerte's. It pays for itself with one 1031 exchange.

Answers are easy. Questions are hard!

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