At their April 21, 2016 meeting, the Forsyth County Board of Commissioners proclaimed May 5, 2016 as âDay of Prayerâ in Forsyth County. All are invited to meet outside of the Forsyth County Courthouse in downtown Cumming at 10 a.m. on May 5, for observance of âDay of Prayer.â.
The accumulated depreciation account is an asset account with a credit balance (also known as a contra asset account); this means that it appears on the balance sheet as a reduction from the gross amount of fixed assets reported.
Enter that amount, along with all of your other depreciation for non-listed property, on line 17 of Form 4562. If this is the first tax year that you are depreciating the asset, you will need to enter it on line 19 of the Form.