Depreciation

[Chief]

I have a return where an out-of-state preparer has prepared a 2006 depreciation schedule. There are two items missing from the dep sch. New Water Pump for 523.00 cost and a windows and blockcaps 2275 00.. I think these should be on the dep schdule/ The water pump depreciated as follows; MACRS 7 year property and the window and Blockcaps MACRS 39 year property. He has taken cost of both items as 2006 Assets purchased.
As Carol Burnett has said, "Oh where, oh where, did I go wrong"
192 depreciation does not qualify for rental property.

[Chief]

Depreciation

Is the sch I propose for these two items reasonable. They are depreciatable capital assets, right? Help.

[Zee]

Your post seems to indicate the two assets missed on last year's depreciation schedule were Schedule E, Rental property? Is that correct?
If so, I'd suggest 7 years and 27.5 years and file a Form 3115 for an accounting change to also included the "missed" depreciation from last year.

[OldJack]

First look to see if the items were expensed on Sch-E or depreciated on Sch-E. Note also that some software programs have a separate depreciation schedule for Sch-E that would not be printed with other depreciation schedules.