Form 4562 Depreciation & Amortization

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This page provides information on entering assets for Depreciation and Amortization Form 4562. 

IMPORTANT: This information can be used for Schedule C, Schedule E, and Schedule F.  

Add a New Asset Entry

Select "Click here to add a new Depreciation entry".

You must enter this page from the applicable schedule the depreciation deduction is being taken in. 

Asset Basic Information Page:

You will see the Schedule and Activity displayed that the Depreciation Deduction or Amortization Deduction will be carrying over to.
Do not add any assets other than the one(s) that apply to the Schedule you are working in.  

Year Placed in Service:
Enter the year this depreciable asset was first placed in service.

Depreciation Asset Listing Page:

Asset Description:
The IRS only takes the first 9 characters of the description. 

Click here to show advanced entries:
Please see Advance Entries below. 

Asset Details:

Date Placed in Service:
Enter the date this asset was first placed in service. 

Classification of Property:
Click here, and a new page will open listing what property belongs to each of the classifications.

Recovery Period:
Enter here the years only that was selected from drop-down box.

Choose between 

Depreciation Method:
There are (3) depreciation methods to choose from:
- 150% Declining Balance
- 200% Declining Balance
- Straight Line 

Cost or Other Basis:

Advance Entries:

Current Year Depreciation Deduction Override:
An amount entered here will override the calculated depreciation amount.