TaxACT provides depreciation reports for federal and state returns. These reports are available for the current year, and the information is also provided for the following five years' depreciation amounts. There is also a disposal summary available.
To review or print the Depreciation Summary
in the TaxACT program:
- Click on the Review tab
- Click Reports (in order to see the Depreciation Summary, Form 4562 must be completed in your return)
- Click Depreciation Summary, State Depreciation Summary or Disposal Summary
- Click to select the summary and a new screen will appear with the information
The Depreciation Summary
reports can be sorted by asset name or date acquired (asset name and date sold for the Disposal Summary
). The Depreciation Summary Reports
can also be printed.