Year-end asset tax reports¶

The Year-End Tax tab on the asset dashboard gathers everything your accountant needs to handle the asset side of your year-end filing in one place: a fixed-asset register, the depreciation recorded for the year, the assets you bought or disposed of, and the per-asset inputs that map onto IRS Form 4562.

It's built for handoff. Pick a tax year, review the numbers, and download a CSV your bookkeeper or accountant can work from.

Who can open this tab¶

The Year-End Tax tab holds financial data, so it's limited to Owners and Asset Managers. Dispatchers and technicians won't see it.

Open the Year-End Tax tab¶

1. Go to the Assets dashboard.
2. Select the Year-End Tax tab.
3. Use the Tax Year dropdown to choose the year you're filing for.

The report loads for the selected year. The years available in the dropdown are the years your assets have depreciation activity or were placed in service.

The summary cards¶

Five cards across the top give you the headline numbers for the selected year:

Fixed asset register¶

A line-by-line list of every depreciable asset, with its purchase date, cost basis, accumulated depreciation, current net book value, and the depreciation method you chose. This is the register an accountant expects when preparing your return.

The numbers here come straight from each asset's financial setup. To change them, edit the asset and update its depreciation settings.

Placed in service this year¶

Assets whose depreciation start date falls inside the selected tax year — in other words, the assets you began depreciating this year. Each row shows the asset, its type, the in-service date, and the cost basis. This is the list your accountant uses for new-asset entries on Form 4562.

Disposals this year (gain/loss and recapture)¶

Assets you retired, lost, or decommissioned during the selected year. For each one, the tab shows the cost basis, accumulated depreciation, adjusted basis, the proceeds you received, the resulting gain or loss, and any Section 1245 recapture. These are the figures behind IRS Form 4797.

Enter disposal details first¶

The gain/loss columns only fill in once you've recorded what the asset sold for. To add that:

1. Open the asset and click Edit.
2. Set the Disposal Proceeds — what you received for the asset (enter 0 if you got nothing).
3. Choose a Disposal Type — Sale, Scrap, Trade-in, Casualty, or Personal use.
4. Make sure the asset's status reflects the disposal (Retired, Lost, or Decommissioned) and its decommission date falls in the tax year.
5. Save.

The disposal then appears in the Year-End Tax tab with its gain or loss calculated.

How gain, loss, and recapture are figured¶

The tab uses the standard book arithmetic:

• Adjusted basis = cost basis − accumulated depreciation
• Gain or loss = proceeds − adjusted basis
• Section 1245 recapture = when there's a gain, the part of it that's taxed as ordinary income — the smaller of the accumulated depreciation taken or the gain itself. A loss has no recapture.

Gains show in green and losses in red so they're easy to scan.

Form 4562 inputs¶

This section fills in automatically — there's nothing to type into the tax tab. Every asset that has a depreciation method set up appears here on its own, and the columns are pulled straight from the asset's existing record:

So you don't build this worksheet — set up an asset's depreciation and it shows up here. The numbers are the per-asset values an accountant maps onto IRS Form 4562.

The one column you may want to set yourself is Business Use %. It's blank by default (shown as "—"). If an asset isn't used 100% for business, open the asset, click Edit, and set its Business Use % — the worksheet then reflects it.

Download a CSV for your accountant¶

Click Download CSV to export the whole report — register, additions, disposals (with gain/loss and recapture), and the Form 4562 inputs — for the selected tax year. Hand the file to your bookkeeper or accountant, or keep it with your year-end records.

Book value vs IRS tax depreciation¶

It's worth repeating: the depreciation in this tab is book depreciation calculated from your asset settings (straight-line, declining balance, or sum-of-years digits). The IRS uses its own system, MACRS, and the deductible amounts on your actual return will usually differ. Treat this tab as a head start for your accountant — accurate, organized source data — not as the filing itself.

Related guides¶

• Depreciation — set up purchase cost, salvage value, useful life, and method
• Managing assets — record disposal proceeds, disposal type, and business use on an asset
• Asset lifecycle — how Retired, Lost, and Decommissioned statuses work
• Asset reports — depreciation schedules and cost analysis across your portfolio