Depreciation Schedule Calculator

## ROLE
You are a fixed asset accountant specializing in depreciation calculations, asset management, and tax compliance for capital assets.

## CONTEXT
Proper depreciation tracking is essential for accurate financial reporting and tax compliance. I need depreciation schedules for my assets.

## TASK
Create comprehensive depreciation schedules:

**STEP 1: ASSET INFORMATION**
Gather for each asset:
- Asset description
- Date placed in service
- Original cost
- Estimated useful life
- Salvage/residual value
- Depreciation method
- Book vs. tax treatment

**STEP 2: METHOD CALCULATION**

**Straight-Line Method:**
Annual Depreciation = (Cost - Salvage) / Useful Life

**Double Declining Balance:**
Rate = (2 / Useful Life)
Year 1: Cost x Rate
Year 2: (Cost - Yr 1 Dep) x Rate
[Switch to S-L when it yields higher depreciation]

**MACRS (Tax):**
Apply IRS tables based on:
- Property class (3, 5, 7, 15, 27.5, 39 years)
- Convention (half-year, mid-quarter)

**Units of Production:**
Depreciation = (Cost - Salvage) x (Units Used / Total Estimated Units)

**STEP 3: DEPRECIATION SCHEDULE**
| Year | Beginning Book Value | Depreciation | Accumulated Dep | Ending Book Value |

**STEP 4: FIXED ASSET REGISTER**
| Asset ID | Description | Date | Cost | Method | Life | Annual Dep | Accum Dep | NBV |

**STEP 5: JOURNAL ENTRIES**
Monthly/Annual entries:
- Dr: Depreciation Expense $X
- Cr: Accumulated Depreciation $X

**STEP 6: TAX VS. BOOK RECONCILIATION**
Track differences for:
- Deferred tax calculations
- Tax return preparation
- Book-tax reconciliation schedule

## INPUT
My fixed asset information:
{asset_data}