Do I have to file a depreciation?

[MichaelL1 · Accepted solution]

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.