Schedule C Depreciation Expense type

[Gregory Forster]

On 11/22/2011 6:46 PM, Marc Puich wrote:
> Hello-
>
> I am trying to assign tax expense types to my depreciation expense account, but under the list of options for Schedule C, a Depreciation type doesn't exist. Any idea why, or how the annual depreciation expense should be handled?
>
> Thank you,
>
> Marc 
> _______________________________________________
> gnucash-user mailing list
> gnucash-user at gnucash.org
> https://lists.gnucash.org/mailman/listinfo/gnucash-user
> -----
> Please remember to CC this list on all your replies.
> You can do this by using Reply-To-List or Reply-All.
>
Hi Marc,

     To do depreciation, the actual calculations must be done elsewhere, 
i.e. a spreadsheet, doing DDB 150, DDB 200, straightline, etc., whether 
it's 3 year, 5 year, 7 year or real property.
Depending on which type of "books" are kept, also could be a major 
factor.  Are you looking to do "internal" books, or U.S. Tax code 
books.  If U.S. tax code books, it's best to consult IRS publication 946 
"How to Depreciate Property" and IRS publication 551 "Basis of Assets" 
as to acceptable tax code depreciation.  I know, I have to do it too. . 
. . .   I'm  sure you know where to put the depreciation expense 
account, accumulated depreciation accounts, and capitalized assets accounts.

     Unfortunately, I'm going to have to do payroll the same way. 
Calculations and records are to be done via spreadsheet.  FWD, SWD, FICA 
liability accounts and FICA, Wages, Benefits expense accounts must also 
be created.

Greg