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after you file taxes, where is the record of depreciation, w accountant? on the return?
ie. i depreciated a camera a couple of years ago, but i dont how many years are left, does only the acct have this information ?

2007-12-12 10:50:53 · 4 answers · asked by M D 1 in Business & Finance Taxes United States

after you file taxes, where is the record of depreciation, w accountant? on the return?
ie. i depreciated a camera a couple of years ago, but i dont how many years are left, does only the acct have this information ?
are they details on the tax return or seperate?

2007-12-12 11:06:34 · update #1

sorry, cant understand, for what it is worth, there is NO answer for this in the database

does part of the tax return contain the whole depreciation record, part of it, none of it.

2007-12-12 11:57:13 · update #2

4 answers

The actual return will only show the dollar amount of depreciation. many accountants and tax professionals keep records of depreciation so that they have them when you come back next year. Most of us do not give copies to the taxpayer unless they are requested. I, personally, don't like this practice and always print a copy for the client. I don't know what their year holds, and if they move or choose to use another preparer, I want them to have everything they need. But, if you don't have yours, you can call the accountant and ask for the depreciation worksheets. He is required to give them to you, and required to have kept them on file.
Although, unless you were depreciating a Hasselblad large-format or something, you probably took a 179 deduction. This means that you took all the depreciation in one year. Even some of the decent professional cameras like the Cannon A2 (my shooter of choice) don't cost enough to bother with depreciation over the life of the camera. I almost always 179 my cameras, and leave the regular depreciation for lights, backgrounds, and my building.
See what happens when a tax professional divorces a professional photographer? You get one, very helpful me!

2007-12-16 02:06:50 · answer #1 · answered by Katie Short, Atheati Princess 6 · 0 0

Yes, but not as soon as possible. The form that you are calling a "secondary form" is actually called a "substitute form". You cannot get one before February 15. Before you can get one, you must: 1) Ask the employer for a W-2. 2) Wait a reasonable amount of time to give the employer a chance to comply 3) After February 15, call the IRS and say that you asked the employer for the W-2 and did not receive it. (If you call before February 15, they won't send the substitute form. Waiting until after February 15 is a requirement, to give employers time to send W-2 forms.) A "W-2" specifically means a form from the employer. If you get a form from the IRS, or anyone else in the world, who was not your employer, then it is not a W-2. To be a W-2, it has to come from the employer.

2016-04-08 23:33:47 · answer #2 · answered by Anonymous · 0 0

They should be in YOUR possession. If your accountant hasn't returned your records to you, you should ask for them.

Addendum: The tax return will generaly only show the dollar amount of the depreciation expense claimed. There may be some cost and asset lifetime data on it but it probably won't be complete. YOU are responsible for keeping accurate business records of all of your business activities. Therefore YOU are the one who needs to maintain the depreciation records. If your records are still in the custody of your accountant you should ask that the accountant return them to you.

2007-12-12 11:00:13 · answer #3 · answered by Bostonian In MO 7 · 1 0

All of the above including with you.

2007-12-12 11:50:20 · answer #4 · answered by Anonymous · 0 0

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