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Level 1
posted Feb 18, 2023 11:32:25 AM

Finding asset deprecation category asset was first claimed as

Is there a way to see what business asset deprecation category an asset was first claimed as on previous business tax return? 

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2 Replies
Level 15
Feb 18, 2023 12:05:43 PM

Look for either the form 4562 in the year the item was placed in service  OR  any of the depreciation worksheets from that year forward. 

Expert Alumni
Feb 18, 2023 12:06:47 PM

You will not find the depreciation asset category on the tax form itself, just the amount.  There is a depreciation worksheet that is included in TurboTax which is essential information so most tax preparers provide the information with the tax records.