Drake Tax - 1041: Schedule E Depreciation

How to enter depreciation on Schedule E in a fiduciary return

In Drake Tax, you can enter depreciation for Schedule E by entering asset details on screen 4562 and point it (using the For box) to Schedule E (using the Multi-form code to identify the instance of Schedule E if there is more than one E screen).

Alternatively you can use the line 18 entry fields on screen E > Income/Expenses tab to enter Depreciation or a Depreciation adjustment (AMT).

The software calculates the AMT automatically. Review Wks Sch K-1 to determine if any adjustments are needed.

By default, depreciation is carried to the beneficiary's Form K-1. If the depreciation should be carried to the Schedule C, E, or F instead, see Drake Tax - 1041: Carrying Depreciation or Depletion to Schedule C, E, or F.