Tax Expense Report: Report Columns

The Tax Expense report first shows general information about the asset, then the components of the current year depreciation expense for tax purposes.

These standard columns appear in the Tax Expense report and need no explanation:

System Number

Extension

[Placed] In-Service Date

Acquired Value

Depreciation Method

Property Type

Estimated Life

The following guidelines provide detail on the nonstandard columns that appear on the Tax Expense report.

Column	Notes
Section 168 Allowance	This column shows the asset’s 168 Allowance used to calculate depreciable basis. This amount is 20%, 30%, 40%, 50%, 60%, 80%, or 100% of the asset’s adjusted basis, depending on the placed in service date. An amount in this column always appears if the asset uses a "Plus 168" depreciation method.
Depreciable Basis	This column shows the asset’s depreciable basis as calculated by the application.
(+) Section 179 Expense	This column shows the amount of Section 179 expense deduction taken for the current year. An amount appears in this column only if the report is run for the asset’s placed-in-service year.
(+) Section 168 Expense	This column shows the amount of 168 Allowance calculated for the current year treated as expense for each asset. Because this column shows only the 168 expense for the current year, an amount appears in this column only if you run the report for the asset’s placed-in-service year. If the asset was involved in a transfer, then this amount could be different from the amount in the Section 168 Allowance column. When you transfer an asset in the year that you place the asset in service, the 168 Expense is allocated between the original asset and the transferred asset.
(+) Current Year-to-Date Expense	Current Year-to-Date Expense includes all depreciation expense from the beginning of the fiscal year containing the current through date up to and including the through date. (The through date is the last date through which you calculated depreciation.) For example, if the current through date is 03/07, the current year-to-date depreciation includes depreciation for January, February, and March 2007 (for a calendar year-end company).
(=) Total 4562 Expense	This column is the sum of the Section 179 Expense, the Section 168 Expense, and the Current Year-to-Date Expense columns. The total for this column will be the depreciation claimed on the Form 4562 if you run the report for the end of the fiscal year.
Zone Types (ZT)	This column shows the zone type, if any, designated in the §179/Bonus Details window. The table below displays the possible zone type codes.
Other 179 Expense	This column shows the amount entered in the §179/Other Amount field on the §179/Bonus Details window.

Zone Types (ZT)

The following are the possible zone type codes:

Code	Zone Type
G	Gulf Opportunity Zone
K	Kansas Disaster Zone
E	Enterprise Zone
D	Qualified Disaster Zone
X	No zone applies