What a depreciation schedule looks like — six suites, six documents

Ask for an example of a depreciation schedule and the honest answer is that there isn't one. There
are at least six, they carry six different titles, and the differences between them are not
cosmetic — they decide what you can do with the document when it arrives from someone else.

We have read thirty-one of these end to end. They come from public court filings, mostly bankruptcy
petitions and litigation exhibits, printed by the debtor's own tax software with court stamps
across the header. That is a useful sample precisely because nobody produced them for demonstration
purposes. One of them runs past two hundred pages.

What follows is what those documents actually look like. No real names or figures appear here — the
files contain live business information and stay local — so the illustrative rows below are
invented. The structure is not.

Six suites, six differently titled documents

The print title is the fastest way to identify what you are holding, and it is usually centred at
the top of every page:

Suite	What it prints at the top
Lacerte	Depreciation Schedule · Book Depreciation Schedule · Summary Depreciation Schedule
ProSeries	Depreciation and Amortization Report
UltraTax CS	Federal Asset Report · AMT Asset Report · Future Depreciation Report
Drake	Depreciation Detail Listing
Fixed Assets CS	Tax Asset Detail
Sage FAS	Depreciation Expense Report

Two things follow from that table.

The first is that "depreciation schedule" is a generic name for a document that no suite except
Lacerte actually calls that. If you asked a prior preparer for a depreciation schedule and received
something headed "Federal Asset Report", you received the right document.

The second is that the same suite prints several. UltraTax alone produces a Federal Asset Report, an
AMT Asset Report and a Future Depreciation Report, and they are not interchangeable — the AMT report
carries the alternative minimum tax treatment, and the future report projects forward rather than
recording what has been taken. Receiving one when you needed another is a common and entirely silent
way to start from the wrong document.

What a row looks like

Stripped to its structure, a row on any of these is the same idea: one asset, its origin, its
treatment, and its history.

Description	In service	Cost	Method	Life	Conv	Prior depr	Current
Delivery van	03/14/2021	38,400	200DB	5.0	HY	30,336	4,424
Warehouse shelving	08/02/2022	12,750	200DB	7.0	HY	5,564	2,232
Office building	01/09/2019	410,000	SL	39.0	MM	62,821	10,513
Signage	11/20/2023	6,200	200DB	7.0	HY	1,772	1,518

Those figures are invented, and the treatments shown are simply whatever this hypothetical print
stated. Nothing in that table is a view about how any particular asset ought to be depreciated —
it is a picture of a document, not advice about one.

What the layout tells you is where the weight sits. Description, in-service date and cost identify
the asset. Method, life and convention describe how it is being recovered. Prior and current
depreciation are its history. Those eight fields are the irreducible set, and a
MACRS depreciation schedule is legible if it carries them and
guesswork if it does not.

The column sets, side by side

Where the suites genuinely diverge is in what they add, what they name things, and what they leave
out:

Suite	Characteristic columns	Watch for
Lacerte	Cost, prior depreciation, current, §179, special depreciation allowance	The summary variant folds prior §179 and prior bonus into one combined prior figure
ProSeries	Cost, business use, prior, current, amortisation rows in the same listing	Amortised intangibles sit in the same table as depreciable property
UltraTax CS	Asset, date, cost, Bus %, §179, Bonus, method as a single string	Method, life and convention compressed into one cell — "5 HY 200DB"
Drake	Description, acquired, cost, method, life, prior, current	The detail listing is per-asset; the return's own 4562 is not
Fixed Assets CS	Tax Cost, Sec 179 Current, Tax Bonus, organised into Group sections	Group subtotals rather than one flat list
Sage FAS	Acquired Value, Current Accum Depreciation, book selector, fiscal year end	Headers wrap across two or three lines and invert their meaning

The UltraTax convention of printing 5 HY 200DB in one cell is worth dwelling on because it is
efficient and unambiguous on paper and a nuisance everywhere else. Three separate facts — a
five-year recovery period, the half-year convention, and 200% declining balance — occupy one column.
Any destination that wants them as three fields has to take that string apart.

The Sage row is the one that has actually cost money. A column header reading "Current Accum" on one
line and "Depreciation" on the next reads naturally as the current year's depreciation. It is
accumulated depreciation as of the report date, which is to say prior depreciation. Read it the
obvious way and a large figure lands in the wrong field for every row on the page at once. Both
values are legitimate dollar amounts, so nothing downstream objects.

Sections, subtotals, and the way a schedule foots

Almost none of these documents is a flat list.

Most group assets by activity — one section per Schedule C business, per rental property, per
Form 8825 property — and print a subtotal under each. Fixed Assets CS uses named Group sections.
Some then print a grand total for the return; some print only the section subtotals and leave the
grand to the reader.

That structure is the most useful thing on the page, because it is a self-check the document
performs on itself. The rows in a section should sum to the section subtotal; the sections should
sum to the grand. When they do not, either a row is missing from your reading of the page or the
totals belong to a different scope than you assumed.

It is also where the layout traps live. A section header that repeats at the top of each page can
look like a new section. A subtotal line printed in the same font and position as an asset row can
be read as an asset. And where a document prints a grand total but no section subtotals, there is
nothing to isolate an error to a section — a single discrepancy implicates all two hundred rows
equally.

The variants that look the same and are not

Lacerte's summary against Lacerte's detailed schedule. Both list every asset. Both foot. The
summary prints one prior depreciation figure where the detailed one prints prior regular
depreciation, prior §179 and prior bonus as separate columns. Nothing on the summary is marked
missing, because from the document's own point of view nothing is. This is covered in full in
what Lacerte's summary schedule leaves out, and
it is the single most consequential variant difference in this list.

UltraTax's three reports, as above — federal, AMT, and forward-looking.

Book against tax. Sage's report carries a book selector, and a print headed "Book = Internal"
is management-basis depreciation, not the tax treatment. Lacerte's "Book Depreciation Schedule" is
the same hazard under a different name. Both are entirely legitimate documents that will not
reconcile to a return.

Text against image. Three of the thirty-one documents in our set have no text layer at all —
they are photographs of paper. They look identical on screen to the ones that do, and the difference
only appears when something tries to read them. What that changes is on the
scanned depreciation schedule page.

Four checks before you rely on an example

Read the title. It tells you the suite, and often the variant. "Summary", "AMT", "Book" and
"Future" in a title are all load-bearing words.

Look for the component columns. Separate prior §179 and prior special depreciation allowance
columns mean you have the detailed variant. One combined prior depreciation column means you do not.

Foot one section by hand. Add the rows in the smallest section and compare to its subtotal. If
that ties, the page is being read correctly. If it does not, stop before doing anything else with
the document.

Check whether the text is selectable. Try to select a figure in the PDF viewer. If nothing
highlights, it is an image, and every number on it will have to be read by eye or by OCR.

None of those takes more than a couple of minutes, and each of them catches a category of error that
is invisible afterwards. If you are working from a schedule that arrived with a new client, the
wider question of what to do with it is on the
prior year depreciation schedule page.

What we do with it

The reason we have thirty-one real prints rather than a handful of samples is that the variation
above is the actual problem. A tool that reads one suite's layout is a demo.

What we do with a schedule is transcribe it — description, date, cost, method, life, convention,
prior and current, per row, from whichever of these layouts it happens to be — and then check the
transcription against the document's own subtotals and grand total, per activity and in total. If
those disagree, there is no file to download. Where the print does not state something, such as the
prior §179 and bonus split on a summary variant, the field comes back empty and flagged rather than
zeroed, and the flag blocks the download until a preparer clears it.

The tool has no opinion about whether any row's treatment is correct. It reports what the page says
and where the page says nothing.

FAQ

What does a depreciation schedule look like?

One row per asset, carrying description, date placed in service, cost or basis, depreciation method,
recovery period, convention, prior depreciation and current-year depreciation, usually grouped into
sections by activity with a subtotal under each. Layout, column names and title vary by the software
that printed it.

What is a depreciation schedule called in each tax program?

Lacerte prints a Depreciation Schedule, a Book Depreciation Schedule or a Summary Depreciation
Schedule. ProSeries prints a Depreciation and Amortization Report. UltraTax CS prints a Federal
Asset Report, an AMT Asset Report and a Future Depreciation Report. Drake prints a Depreciation
Detail Listing, Fixed Assets CS a Tax Asset Detail, and Sage FAS a Depreciation Expense Report.

How do I tell which software produced a schedule I received?

Read the title centred at the top of the page against the list above. Failing that, the column
layout is distinctive — a single cell containing something like "5 HY 200DB" points to UltraTax,
and named Group sections point to Fixed Assets CS.

Is a Book Depreciation Schedule the same as the tax one?

No. A book or internal schedule reports depreciation on a management basis and will not reconcile to
the return. Sage indicates this with a book selector printed on the report; Lacerte names the
document differently. Both are legitimate reports that answer a different question.

How can I check that I am reading a schedule correctly?

Add the rows of the smallest section by hand and compare the result to that section's printed
subtotal. A section that ties confirms you are reading the row boundaries and the columns as the
document intends. A section that does not tie means something is being misread, and it is worth
resolving before relying on any figure from the page.

Why do some depreciation schedules have no separate §179 column?

Because the variant that was printed does not break prior depreciation into its components. The
combined figure it prints is the correct total, so the page foots and nothing appears to be missing.
The components exist in the preparer's software and on the Forms 4562 for the years they were
claimed.