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MACRS Depreciation Calculator Based on IRS Publication 946

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MACRS Depreciation Calculator Sign
MACRS Depreciation Calculator

This calculator will calculate a property's depreciation rate and expense for a given tax year based on Chapter 4 of IRS Pub 946. Includes an option for creating and printing a property's MACRS depreciation schedule. The Learn tab includes:

  • What is MACRS?
  • How to calculate MACRS depreciation.
  • Example calculation.
Learn More

Selected Data Record:

A Data Record is a set of calculator entries that are stored in your web browser's Local Storage. If a Data Record is currently selected in the "Data" tab, this line will list the name you gave to that data record. If no data record is selected, or you have no entries stored for this calculator, the line will display "None".

DataData recordData recordSelected data record: None
Asset name:Asset name:Asset name (optional):Asset name (optional):

Asset name (optional text):

If you would like the name of the asset, or General Asset Account (GAA) included in the title of the MACRS depreciation schedule, enter the name in this field.

Basis:Basis:Basis:Basis:

Basis:

Enter the total cost to acquire the property (unadjusted basis). If the property is considered to be real property, be sure not to include the cost of any land that may have come with the property.

Business %:Business use %:Business use percentage:Percentage property is used for business:

Percentage property is used for business:

If this property is used for both business and personal use, enter the percentage the property is used for business. If the property is only used for business, enter 100.

Class:Classification:Property classification:Property classification:

Property classification:

Select the applicable number of cost recovery years based on the property's MACRS classification.

Method:Deprec method:Depreciation method:Depreciation method:

Depreciation method:

Select the applicable depreciation method. For personal property the depreciation method is usually 200% declining balance. For real property (commercial or rental property) the straight-line method is usually required.

Convention:1st yr convention:1st year convention:Convention to use for first year:

Convention to use for first year:

For personal property the half-year convention is typically used -- except in cases where 40% of the total annual bases is placed in service the last quarter of the year, in which case you typically use the mid-quarter convention. The mid-month convention is typically used for real property.

Month and year in service:Month and year placed in service:Month and year placed in service:Month and year placed in service:

Month and year asset placed in service:

Select the month and enter the 4-digit year indicating when the property was first placed in service.

Deprec year:Depreciation year:Year to calculate depreciation:Year to calculate depreciation expense for:

Year to calculate depreciation expense for:

Enter the 4-digit year you would like the calculator to calculate the depreciation expense for (must be a year that falls within the recovery period). This field is a required field, so if you are not interested in a specific year, just enter the year the asset was placed in service.

Round:Round:Round:Round:

Round:

If you will be printing out the depreciation schedule, indicate whether or not you want to round the currency amounts in the report to the nearest dollar.

Schedule:Include schedule:Include depreciation schedule:Include depreciation schedule:

Include depreciation schedule:

If you would like a depreciation schedule included in the results so you can print it out, move the slider to the "Yes" position.

Base:Depreciable base:Depreciable base:Depreciable base:

Depreciable base:

This is the unadjusted basis entered in the top section of the calculator multiplied by the percentage the property is used for business. Since the MACRS method fully depreciates all property, the salvage value is not considered in the calculations.

Percentage:Deprec percent:Depreciation percentage:Depreciation percentage for entered year:

Depreciation percentage for entered year:

This is the depreciation rate used by the calculator for the desired year. If the desired year is the first year, the percentage will be prorated based on the selected convention. If the desired year is the final year, the listed percentage may not apply when switching from declining balance to straight-line.

Expense:Deprec expense:Depreciation expense:Depreciation expense for entered year:

Depreciation expense:

This is the calculated depreciation expense for the desired year. If the desired year is the first year, the expense will be prorated based on the selected convention.

The above results are for illustrative purposes only. Be sure to consult a qualified tax professional and/or IRS Publication 946 before completing your depreciation-related tax forms.

If you would like to save the current entries to the secure database, tap or click on the Data tab, select "New Data Record", give the data record a name, then tap or click the Save button. To save changes to previously saved entries, simply tap the Save button. Please select and "Clear" any data records you no longer need.

Feedback AppreciatedFeedback Greatly AppreciatedYour Feedback Would Be Greatly AppreciatedYour Feedback Is Greatly Appreciated
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Help and Tools

Help and Tools:

This section, which you can Unstick or Hide in the Calculator Preferences (just above the top of the calculator), contains the following tabs (content too long to fit within bordered frame can be scrolled up and down):

About: Click this tab for an introduction to the calculator.

Instructions: Click this tab for step-by-step instructions for using the calculator.

Terms: Click this tab for a list of the descriptions that are located within each popup help button (info icons).

PCalc: Click this tab for a handy "pocket" calculator you can use when you need to calculate an entry needed for the calculator.

Data: Click this tab to save a set of entries or a note in between visits. Entries and notes will be stored to your web browser's local storage (if supported by your browser of choice), meaning they can only be recalled with the same device and web browser you were using when you saved them. If you'd like to save entries and notes between devices you can do so by subscribing to the Ad-Free Member Version.

 

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Adjust Calculator Width:

Move the slider to left and right to adjust the calculator width. Note that the Help and Tools panel will be hidden when the calculator is too wide to fit both on the screen. Moving the slider to the left will bring the instructions and tools panel back into view.

Also note that some calculators will reformat to accommodate the screen size as you make the calculator wider or narrower. If the calculator is narrow, columns of entry rows will be converted to a vertical entry form, whereas a wider calculator will display columns of entry rows, and the entry fields will be smaller in size ... since they will not need to be "thumb friendly".

Show/Hide Popup Keypads:

Select Show or Hide to show or hide the popup keypad icons located next to numeric entry fields. These are generally only needed for mobile devices that don't have decimal points in their numeric keypads. So if you are on a desktop, you may find the calculator to be more user-friendly and less cluttered without them.

Stick/Unstick Tools:

Select Stick or Unstick to stick or unstick the help and tools panel. Selecting "Stick" will keep the panel in view while scrolling the calculator vertically. If you find that annoying, select "Unstick" to keep the panel in a stationary position.

If the tools panel becomes "Unstuck" on its own, try clicking "Unstick" and then "Stick" to re-stick the panel.