Carl
Level 15

Business & farm

They need to see what's been depreciated and how it's being depreciated.

It's all there in black and white, on the 4562 title "Depreciation and Amortization Report".

-The name of the asset

-The date the asset was placed in service

-The cost of the asset

-The depreciation method used

-The convention used in the first year

-The total amount of prior year's depreciation already taken

-The amount of depreciation taken in the current tax year.