Discussion Archives:Depreciation Form 4562

From TaxAlmanac, A Free Online Resource for Tax Professionals
Note: You are using this website at your own risk, subject to our Disclaimer and Website Use and Contribution Terms.

From TaxAlmanac

Jump to: navigation, search

Discussion Forum Index --> Consumer Questions --> Depreciation Form 4562


Roodavis (talk|edits) said:

28 February 2007
I am attempting to file an 1120s on my own and I am stumbling over where to enter depreciation information for 2005. I am comfortable with entering current assests. But where do I enter the second year of depreciation on equipment put into service in 2005? $4000 piece of equipment, took a 20% or $800 depreciation deduction in 2005, according to the five year table I sould take a 32% or $1024 depreciation deduction this year.

Wdsaltman95 (talk|edits) said:

28 February 2007
Assuming MACRS, should be Part III, line 17.

Roodavis (talk|edits) said:

28 February 2007
Duh!! Thanks for making me look like I hadn't read the form. ;-)

I read the form a dozen times and some how glazed over line 17 each time.

Deback (talk|edits) said:

February 28, 2007
Enter the prior year assets in the asset entry worksheets. Your software will compute the depreciation for the current year and place it on the line where it belongs.
Personal tools