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Returning Member
posted Mar 9, 2022 9:07:38 AM

How to I calculate asset depreciation for music instruments and gear?

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1 Replies
Expert Alumni
Mar 9, 2022 9:11:50 AM

You first need to know the asset life. Machinery has a 7 year life. You would depreciate it (over time) using MACRS. If you know the asset life, the program does the rest.

 

You also have the option of taking accelerated depreciation. You would find these options in the asset section of Schedule C.