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msyourtaxservice
Level 1
March 5, 2020
Question

amortization and depreciation

  • March 5, 2020
  • 2 replies
  • 17 views

where in the form 4562 can I enter an amortization for a year previous to 2019 of an intangible asset?

Also I would like to know if I can deduct 50% instead of 100% of an new asset in 2019?

This topic has been closed for replies.

2 replies

T
Terry53029Intuit Community Champion
Intuit Community Champion
March 5, 2020

Prior year amortization line 43 part Vl. Bonus deprecation is 100% or regular MACR for assets put in service 2019. 50% not allowed

sjrcpa
sjrcpa
Level 15
March 5, 2020

 If eligible for Section 179, you can elect this for one-half the cost.

The more I know the more I don’t know.
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