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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
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Experience:  10 years experience
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How do I figure out depreciation for my income tax return?

Customer Question

How do I figure out depreciation for my income tax return?
Submitted: 9 months ago.
Category: Tax
Expert:  ABC Accounting Group replied 9 months ago.

Great Question. It all depends on the type of equipment/assets. I will provide you a guide.

Expert:  ABC Accounting Group replied 9 months ago.

https://www.irs.gov/instructions/i4562/ch01.html

Usually computers are 3 years; you can also take section 179 deduction - which would be a full deduction in the year of purchase, based on business use.

Let me know if you have any questions. Thank you.