Form 4562 Page 1. Form 4562 Department of the Treasury Internal Revenue Service Name(s) shown on return Depreciation and Amortization (Including Information on Listed Property) ► Attach to your tax return. ▸ Go to www.irs.gov/Form4562 for instructions and the latest information. Business or activity to which this form relates OMB No. 1545-0172 2023 Attachment Sequence No. 179 Identifying number(xxx-xx-xxxx) Part I Election To Expense Certain Property Under Section 179 Note: If you have any listed property, complete Part V before you complete Part I. 1 Maximum amount (see instructions) 1 2 Total Cost of section 179 property placed in service (see instructions) 3 Threshold cost of section 179 property before reduction in limitation (see instructions) 4 Reduction in limitation. Subtract line 3 from line 2. If zero or less, enter 0 5 Dollar limitation for tax year. Subtract line 4 from line 1. If zero or less, enter-0-. If married filing separately, see instructions 2 3 4 0 5 0 6 (a) Description property (b) Cost (business use only) 7 Listed property. Enter the amount from line 29 7 8 Total elected cost of section 179 property. Add amounts in column (c), lines 6 and 7 9 Tentative deduction. Enter the smaller of line 5 or line 8 10 Carryover of disallowed deduction from line 13 of your 2022 Form 4562 (c) Elected cost 11 Business income limitation. Enter the smaller of business income (not less than zero) or line 5. see instructions. 12 Section 179 expense deduction. Add lines 9 and 10, but don't enter more than line 11 13 Carryover of disallowed deduction to 2024. Add lines 9 and 10, less line 12 ► 8 0 9 0 10 0 11 12 13 Part II Note: Do not use Part II or Part III below for listed property. Instead, use Part V. Special Depreciation Allowance and Other Depreciation 14 Special depreciation allowance for qualified property (other than listed property) placed in service during the tax year. See instructions 15 Property subject to section 168(f)(1) election 16 Other depreciation (including ACRS) (Don't include listed property. see instructions.) 14 15 16 Part III MACRS Depreciation (Don't include listed property. See instructions.) Section A 17 MACRS deductions for assets placed in service in tax years beginning before 2023 18 If you are electing to group any assets placed in service during the tax year into one or more general asset accounts, check here 17 Section B-Assets Placed in Service During 2023 Tax Year Using the General Depreciation System (c) Basis for depreciation use only-See instructions) (b) Month and year (business/investment (d) Recovery period placed in service (e) Convention (f) Method (g) Depreciation deduction (a) Classification of property 19a 3-year property b 5-year property c 7-year property d 10-year property e 15-year property f 20-year property g 25-year property 25 years S/L 27.5 years MM S/L h Residential rental property. 27.5 years MM S/L 39 years MM S/L i Nonresidential real property MM S/L Section C-Assets Placed in Service During 2023 Tax Year Using the Alternative Depreciation System S/L 20a Class life b 12-year c 30-year d 40-year Part IV Summary (See instructions) 21 Listed property. Enter amount from line 28 12 years S/L 30 years MM S/L 40 years MM S/L 22 Total. Add amounts from line 12, lines 14 through 17, lines 19 and 20 in column (g), and line 21. Enter here and on the appropriate lines of your return. Partnerships and S corporations-see instructions 23 For assets shown above and placed in service during the current year, enter the portion of the basis attributable to section 263A costs For Paperwork Reduction Act Notice, see separate instructions. 23 Cat. No. 12906N 21 22 THIS FORM IS A SIMULATION OF AN OFFICIAL U.S. TAX FORM. IT IS NOT THE OFFICIAL FORM ITSELF. DO NOT USE THIS FORM FOR TAX FILINGS OR FOR ANY PURPOSE OTHER THAN EDUCATIONAL. Ⓒ 2024 McGraw-Hill Education. < Previous Next > Form 4562 (2023) Form 4562 Page 1. Form 4562 Department of the Treasury Internal Revenue Service Name(s) shown on return Depreciation and Amortization (Including Information on Listed Property) ► Attach to your tax return. ▸ Go to www.irs.gov/Form4562 for instructions and the latest information. Business or activity to which this form relates OMB No. 1545-0172 2023 Attachment Sequence No. 179 Identifying number(xxx-xx-xxxx) Part I Election To Expense Certain Property Under Section 179 Note: If you have any listed property, complete Part V before you complete Part I. 1 Maximum amount (see instructions) 1 2 Total Cost of section 179 property placed in service (see instructions) 3 Threshold cost of section 179 property before reduction in limitation (see instructions) 4 Reduction in limitation. Subtract line 3 from line 2. If zero or less, enter 0 5 Dollar limitation for tax year. Subtract line 4 from line 1. If zero or less, enter-0-. If married filing separately, see instructions 2 3 4 0 5 0 6 (a) Description property (b) Cost (business use only) 7 Listed property. Enter the amount from line 29 7 8 Total elected cost of section 179 property. Add amounts in column (c), lines 6 and 7 9 Tentative deduction. Enter the smaller of line 5 or line 8 10 Carryover of disallowed deduction from line 13 of your 2022 Form 4562 (c) Elected cost 11 Business income limitation. Enter the smaller of business income (not less than zero) or line 5. see instructions. 12 Section 179 expense deduction. Add lines 9 and 10, but don't enter more than line 11 13 Carryover of disallowed deduction to 2024. Add lines 9 and 10, less line 12 ► 8 0 9 0 10 0 11 12 13 Part II Note: Do not use Part II or Part III below for listed property. Instead, use Part V. Special Depreciation Allowance and Other Depreciation 14 Special depreciation allowance for qualified property (other than listed property) placed in service during the tax year. See instructions 15 Property subject to section 168(f)(1) election 16 Other depreciation (including ACRS) (Don't include listed property. see instructions.) 14 15 16 Part III MACRS Depreciation (Don't include listed property. See instructions.) Section A 17 MACRS deductions for assets placed in service in tax years beginning before 2023 18 If you are electing to group any assets placed in service during the tax year into one or more general asset accounts, check here 17 Section B-Assets Placed in Service During 2023 Tax Year Using the General Depreciation System (c) Basis for depreciation use only-See instructions) (b) Month and year (business/investment (d) Recovery period placed in service (e) Convention (f) Method (g) Depreciation deduction (a) Classification of property 19a 3-year property b 5-year property c 7-year property d 10-year property e 15-year property f 20-year property g 25-year property 25 years S/L 27.5 years MM S/L h Residential rental property. 27.5 years MM S/L 39 years MM S/L i Nonresidential real property MM S/L Section C-Assets Placed in Service During 2023 Tax Year Using the Alternative Depreciation System S/L 20a Class life b 12-year c 30-year d 40-year Part IV Summary (See instructions) 21 Listed property. Enter amount from line 28 12 years S/L 30 years MM S/L 40 years MM S/L 22 Total. Add amounts from line 12, lines 14 through 17, lines 19 and 20 in column (g), and line 21. Enter here and on the appropriate lines of your return. Partnerships and S corporations-see instructions 23 For assets shown above and placed in service during the current year, enter the portion of the basis attributable to section 263A costs For Paperwork Reduction Act Notice, see separate instructions. 23 Cat. No. 12906N 21 22 THIS FORM IS A SIMULATION OF AN OFFICIAL U.S. TAX FORM. IT IS NOT THE OFFICIAL FORM ITSELF. DO NOT USE THIS FORM FOR TAX FILINGS OR FOR ANY PURPOSE OTHER THAN EDUCATIONAL. Ⓒ 2024 McGraw-Hill Education. < Previous Next > Form 4562 (2023)