Generating Form 4562 with depreciation amounts using Direct Input in ProConnect Tax

You can use the depreciation Direct Input screens to generate Form 4562 with depreciation amounts maintained outside of ProConnect Tax.

For more depreciation resources, check out our Tax topics page for Schedule C where you'll find answers to the most commonly asked questions.

Follow these steps to generate Form 4562 using Direct Input:

1. Go to the Input Return tab.
2. On the left-side navigation menu, select Deductions and choose Direct Input (4562).
3. Select Direct Input.
4. Enter the amounts you'd like to report on Form 4562.
5. Select "+"at the top of your screen to add more entries.

Mandatory entries on the Direct Input screens

These fields are mandatory entries on the Direct Input screens:

• Description of property
• Form (Select the arrow to select from list)
• Activity name or number
• Date placed in service (negative date=various)

Don't use the Deductions > Depreciation screen for any return where Direct Input is utilized.

Related topics

• Generating Form 4562 in ProConnect Tax
• Using ProConnect Tax as a fixed asset manager
• Calculating MACRS depreciation in ProConnect Tax