What is depreciation: FAQs AboutDepreciationLearn more about the benefits

FAQs AboutDepreciationLearn more about the benefits of claimingdepreciationanddepreciationexamples with frequently asked questions aboutdepreciation. Isdepreciationan expense or income?Depreciationis listed as an expense on your income statement since it represents part of the asset cost allocated to the period. Jan 11, 2024 ·Depreciationcan affect the value of your assets and your taxes – often for several years. Learn howdepreciationworks and how to track it. Accumulateddepreciationis known as a contra account, because it separately shows a negative amount that is directly associated with an accumulateddepreciationaccount on the balance sheet.Depreciationexpense is usually charged against the relevant asset directly.