There is perfect answer of Is Depreciation an Asset or a Liability question:
Depreciation is neither an assets nor a liability. It is a non-cash expense that represents the decrease in the value of a fixed asset over its useful life.
It is recorded as an expense on the income statement and reduces the carrying value of the asset on the balance sheet. However, it does not create any liability, as it does not involve any payment or obligation to a third party.
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