I have formed a DBA to sell products and am using equipment purchased and depreciated by the parent company. I like to take the depreciation to offset income received by the DBA. Is this possible?
A DBA (more formally, a fictitious business name) is not a separate business entity - it merely is another name by which an existing individual or entity is known.
Accordingly, because your question makes assumptions that are contrary to fact (a DBA - a mere name - cannot sell products or receive income), it cannot be answered.
Disclaimer: This answer does not establish an attorney-client relationship.
Your question is a bit confusing. As Dana stated, a DBA is not a legal entity, it's a name.
You can setup a sole-proprietorship, which will use a fictitious name (DBA) to do business. You must then transfer ownership of the equipment from your current company to the sole-prop. One legal entity cannot legally sell something that is legally owned by a different legal entity. For example, I cannot sell a car that is legally titled under your name. The same applies to business entities.