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- 1120S Form 4562, Section B,
1120S Form 4562, Section B,
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r4232
Level 1
06-12-2023
05:56 PM
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Are you required to complete Section B on form 4562, when a 50% shareholder is driving the company vehicle 90% of the time. I am depreciating the vehicle by bonus depreciation in the 1st year.
I am confused by the statement on 4562 forms under section B for employees.
Complete this section for vehicles used by a sole proprietor, partner, or other 'more than 5% owner,' or related person. If you provided vehicles to your employees, first answer the questions in Section C to see if you meet an exception to completing this section for those vehicles.
Is this section only for employees and not shareholders?
RP
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1 Comment 1
sjrcpa
Level 15
06-12-2023
06:34 PM
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A 50% shareholder = >5% owner.
The more I know the more I don’t know.
