Scenario

You’re using an external program to calculate depreciation and prefer not to duplicate entries or create a detailed schedule within the Trust Return form.


Solution

You can enter a single total depreciation figure directly through the Depreciation tab without attaching a schedule.

Steps

  1. Navigate to the Depreciation tab in your Trust Return. 

  2. In the line item “Depreciation expenses on accounts”, enter the total depreciation amount from your external system.

    • This value will automatically flow through to Item K under Income > Profit & Loss.

  3. To ensure the reconciliation balances correctly, also enter the tax depreciation amount in the “Tax related depreciation expenses” field.

    • This prevents reconciliation differences in the Reconciliation tab.

  4. (Optional) Review the guide “Understanding the Reconciliation Section in Trust Tax Return” for more details on managing reconciliation variances.