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Printing depreciation reports in ProSeries

SOLVEDby IntuitProSeries Basic35Updated April 21, 2022

Intuit ProSeries has basic depreciation reports available for federal returns that show depreciation and accumulated depreciation. These can be printed for the current year, or the next year. This report will only include assets entered on the Asset Entry Worksheet and Car and Truck Worksheet. Manual entries on the 4562 won't be included.

How to generate the depreciation reports:

  1. From the Forms menu, choose Select Form.
  2. In the Find field, enter DER. 
  3. Select OK or press Enter to open the Depreciation Reports Worksheet
  4. Depreciation reports for specific activities can be accessed by using the QuickZooms.
  5. Under the subsection All Assets Depreciation and Amortization, select Yes or No to Calculate All Assets Depriciation Reports for this client.
  6. Under the subsection Next Year Projected Depreciation and Amortization Reports, select Yes or No to Calculate Next Year Depreciation Reports for this client.
  7. Select the QuickZoom for the desired report.

How to set the depreciation reports to print with the tax return in ProSeries Professional:

  1. From the File menu, select Print Options.
  2. Select Control Which Forms Print.
  3. Select the + next to Depreciation Reports.
  4. Next to each report, select if any data or if used for the Copy you want it to print with.

 

Depreciation and Amortization Report codes

The following codes may display on the Depreciation Report. This is what they represent:

  • Code 7 - This means that the corresponding Asset Entry Worksheet is labeled as an IRC Section 754 adjustment asset.
  • Code A - This means that the "Subject to auto limitations?" question is checked "Yes" on the corresponding Asset Entry Worksheet, Car & Truck Expenses Worksheet, or Form 2106 Vehicle Expenses Worksheet.
  • Code C - This means that the corresponding Asset Entry Worksheet is labeled as a Cost of Goods Sold (COGS) asset.
  • Code H - This means that the corresponding Asset Entry Worksheet is attached to Form 8829 or the Form 2106 Employee Home Office Worksheet.
  • Code L - This means that the "Listed property?" question is checked, "Yes" and the "Subject to auto limitations?" question is checked "No" on the corresponding Asset Entry Worksheet, Car & Truck Expenses Worksheet, or Form 2106 Vehicle Expenses Worksheet.
  • Code S - This means there is a "Date Disposed" on the corresponding Asset Entry Worksheet, Car & Truck Expenses Worksheet, or Form 2106 Vehicle Expenses Worksheet.

The Asset Life History isn't used to calculate the Prior Depreciation seen on the Depreciation Report. For Prior Depreciation to calculate on a Depreciation Report, you need to complete the Prior Depreciation field of an Asset Entry Worksheet.

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