Knowledge Base

12127: 990 - Asset and Depreciation Information on the Balance Sheet

990 Tax Exempt

How do I get federal depreciation onto the balance sheet? 


Drake does not carry asset and depreciation information from the DEPR screens to the balance sheet in the 990 package. Report this information on the Schedule D, Part VI for specific asset types (the D3 screen). Enter the beginning of the year “net” amount on screen 10A, line 10c and end of the year asset detail on the D3 screen.

Bonus depreciation and Section 179 calculations are not supported in a tax-exempt return in Drake Tax. 

  • Per the 990 Instructions: "An organization isn't required to use the Modified Accelerated Cost Recovery System (MACRS) to compute depreciation reported on Form 990."
  • Per the 990-PF Instructions: "A deduction for depreciation is allowed only for property used in the production of income reported in the column, and only using the straight line method of figuring depreciation. A deduction for depletion is allowed but must be figured only using the cost depletion method."

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