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How do I figure out depreciation for my income tax return?

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How do I figure out depreciation for my income tax return?
Submitted: 1 year ago.Category: Tax
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1/3/2017
Tax Professional: ABC Accounting Group, Certified Public Accountant (CPA) replied 1 year ago
ABC Accounting Group
ABC Accounting Group, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 889
Experience: Business Consultant/Accounting Manager
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Great Question. It all depends on the type of equipment/assets. I will provide you a guide.

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Tax Professional: ABC Accounting Group, Certified Public Accountant (CPA) replied 1 year ago
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Tax Professional: ABC Accounting Group, Certified Public Accountant (CPA) replied 1 year 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.

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