How can I see a schedule or worksheet for next year’s depreciation?
A worksheet for next year’s depreciation can be produced either globally, for all clients, or on a per return basis from inside a specific return. The Next Year Depreciation worksheet is only available for the federal - it is not available for State, AMT, or Book depreciation.
Take the following steps to produce a next-year depreciation schedule:
All Returns:
- From the main window of the software select the Setup menu. Select Options from the drop list, and then choose the Form & Schedule Options tab.
- Under the section to the left named Select to Turn On, select Next-year depreciation schedule. Click OK to save your changes and exit. This will produce the Next Year Depr (DEPR_NEXT in Drake15 and prior) worksheet in view mode of the return.
Single Return:
- In data entry of the return, go to the Miscellaneous tab > PRNT screen.
- From this screen, check the box that reads Print Next-Year Depreciation List. This will produce the Next Year Depr (DEPR_NEXT in Drake15 and prior) worksheet in view mode of this return.
Fixed Asset Manager Report:
- From the main window of Drake Tax, go to Reports > Fixed Asset Manager.
- Enter the ID Number of the client.
- Choose these items from the respective drop lists:
- Report: Depreciation Schedules.
- Depreciation Type: Federal.
- Note: Next Year Depreciation calculations are not available for State, AMT, or Book.
- Style: Full Schedule.
- Add the column Next Year Depreciation to the Report.
- Click Save to save this template (optional).
- Click Run Report.
- Review, then Print, or Export the report as needed.
If the Fixed Asset Manager shows an unexpected result for the basis, current year section 179, and current depreciation, calculate the return, and then run the report again.