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South CarolinaDEPARTMENT OF AGRICULTURE
CONSUMER PROTECTION DIVISION123 Ballard Court, West Columbia, SC 29172
Hugh E. Weathers, CommissionerPLACED IN SERVICE REPORT FOR
COMMERCIAL WEIGHING/MEASURING
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What is placed in service report?
A placed in service report is a document that indicates when an asset is first placed into use for tax purposes, which starts the depreciation process.
Who is required to file placed in service report?
Businesses and individuals who place assets into service and wish to claim depreciation for those assets are required to file a placed in service report.
How to fill out placed in service report?
To fill out a placed in service report, provide details such as the asset description, acquisition date, cost, and the date it was placed in service.
What is the purpose of placed in service report?
The purpose of the placed in service report is to document the start of the asset's useful life for tax depreciation purposes, assisting in determining allowable depreciation deductions.
What information must be reported on placed in service report?
The information that must be reported includes the asset type, acquisition date, cost basis, and the date it was placed in service.
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