Depriciation counts as gross income?I am self employed, and I want to buy a home soon. I was looking over my taxes and made 67K, however my gross income says 13K and my tax lady didn't list and depreciation on my trucks, tools, or trailers. She listed EVERYTHING as a deduction! Why did she do this? I am having a CPA look at my taxes but I might have to pay big to the IRS. With a small income, I could be denied a home loan. Does anyone know if I can amend the taxes and trade out the deductions for depreciation? A lender at the bank said that they count the gross income + depreciation as income when getting a home loan...is this true?July 26 2011 - Oklahoma City00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.