Depreciation Schedules

Note To Tax Preparers: While it isn’t required by IRS to attach a detailed asset by asset depreciation schedule with tax returns, it is very useful for clients to have that information. Please either attach the detailed schedule to the returns you prepare or, at a very minimum, give a copy separately to your clients. This will allow your clients to better understand the adjusted coast basis of their assets, which is essential in determining how to handle a sale.