Farm Business & Financial Management
Farm Equipment Depreciation Calculator
A worksheet for working out depreciation on farm equipment, one machine at a time. Helps prepare figures to review with a tax professional. Print it and keep a copy with your other farm records.
WorksheetFarm Business & Financial ManagementFree PDF
What you fill in
- Machine and model
- Date purchased and placed
- Purchase cost with fees
- Trade in or sale proceeds
- Business use share
- Method to confirm with preparer
- Prior depreciation taken
- Depreciation this year
- Remaining value after depreciation
How to use this worksheet
Take the sheet along to the field, shop or office. The blank lines are there so you can write down what you actually see and use.
Where to check the details
This sheet is a general template, so confirm specifics with your own manuals, labels and local rules. For current official guidance, start with IRS and eXtension.
For more in this area, see the farm loans, grants and taxes. Between chores, farm.FM has farm humor, including Farm Loan Calculator Adds New Button: “Apologize to Your Children”, and agribusiness farm stories.