Use this calculator specifically to calculate and print depreciation schedules of residential rental or nonresidential real property related to IRS form 4562 lines 19 and 20. It assumes MM (mid month convention) and S/L (straight-line depreciation). This calculator calculates depreciation by a formula. The IRS also allows calculation of depreciation through table factors listed in Publication 946 linked below. Applicable for MACRS.
Cost Basis the original value of your property or the depreciable cost Recovery Period the number of years during which the cost basis of an item of property is recovered Placed in Service select the month and enter the year the asset started being used for its intended purpose Year enter 1 or 4 digits; enter a four digit year to use your actual years OR enter a 1 to list years using digits 1 through the last year
Cost Basis: $500,000.00, Life: 10 years,
Placed in Service: 8/2012, First Year: 4.5 months, Last Year: 7.5 months