Print Worksheet for IRS 4562 Depreciation and Amortization (tffam1411m000)

Use this session to provide Federal Tax book data in IRS Form 4562 format.

Note: The report is a worksheet designed to help tax preparers ensure that tax data is being used properly.

Field Information

Tax Year

Displays the tax year.

Federal Tax Book

Select the federal tax book.

SIC Code

Specify a SIC code.

Tax ID

Specify a Tax ID.

Maximum Dollar Limitation

The maximum Section 179 expense deduction of $18,000 is increased by the smaller of $20,000 or the cost of Section 179 property that is also qualified zone property.

Threshold Cost of Sec 179 Property before Reduction

This value is $200,000.

Carryover of Disallowed Deduction from 1996

The carryover of disallowed deduction from last year is the amount of section 179 property, if any, you elected to expense in previous years, but not allowed as a deduction due to the business income limitation.

Business Income Limitation

The section 179 expense deduction is further limited to the business income limitation under section 179(b)(3) of the IRS regulations.

Currency

From the Tools menu, choose Rotate Currency to switch home currencies.

Print line 6 detail schedule

Select this check box to print the line 6 detail schedule.

Print line 24 detail schedule

Select this check box to print the line 24 detail schedule.

Print line 25 detail schedule

Select this check box to print the line 25 detail schedule.

Print line 40 detail schedule

Select this check box to print the line 40 detail schedule.

Print section B detail schedule

If this check box is selected, to print Section B detail schedule.