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I show property added during the tax year in Part III using MACRS depreciation.
When I input this for the Form 4562, it also accumulates on line 14 (Part II) --
Example -- I added a $1000 heater having a 5 year life - SL depreciation.
When I designate this with MACRS depreciation it shows $200 in Part III Section B,
Plus it indicates $200 x 5=1000 on line 14. Why is this happening? How do I suppress???
Thanks
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Which depreciation code are you using?
Answers are easy. Questions are hard!
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I'm using
MACRS 5-year % Office Equip, Rental Furn. & Fixtures-----
Thanks for taking a look.
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Is there more info here?
I understand there is a box/ hyperlink under 179 depreciation deduction section
which controls Line 14 on form 4562? Where is this? Thanks
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The default would be special depreciation. You can elect 179 by entering the amount you want in that entry point.
Answers are easy. Questions are hard!
