Do I have to file a depreciation?

krjones1985 · ‎June 5, 2019

MichaelL1 · ‎June 5, 2019

If you have an asset that is used in a business and has not been all written off or expensed, then Yes you must take depreciation on it.

When asset is sold, IRS uses a rule called, "Allowed or Allowable" when computing gain on the sale of an asset, which really means they will compute the gain or loss as if depreciation was taken.

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MichaelL1 · ‎June 5, 2019

If you have an asset that is used in a business and has not been all written off or expensed, then Yes you must take depreciation on it.

When asset is sold, IRS uses a rule called, "Allowed or Allowable" when computing gain on the sale of an asset, which really means they will compute the gain or loss as if depreciation was taken.