Generating FL Form DR-405 Individual Tangible Personal Property Tax Return

How do I generate FL Form DR-405?

Solution:

Per the FL Form DR-405 Instructions,

Include on your return:

1. Tangible Personal Property. Goods, chattels, and other articles of value (except certain vehicles) that can be manually possessed and whose chief value is intrinsic to the article itself.
2. Inventory held for lease. Examples: equipment, furniture, or fixtures after their first lease or rental.
3. Equipment on some vehicles. Examples: power cranes, air compressors, and other equipment used primarily as a tool rather than a hauling vehicle.
4. Property personally owned, but used in the business.
5. Fully depreciated items, whether written off or not. Report at original installed cost.

Do not include:

1. Intangible Personal Property. Examples: money, all evidences of debt owed to the taxpayer, all evidence of ownership in a corporation.
2. Household Goods. Examples: wearing apparel, appliances, furniture, and other items ordinarily found in the home and used for the comfort of the owner and his family, and not used for commercial purposes.
3. Most automobiles, trucks, and other licensed vehicles. See 3 above.
4. Inventory that is for sale as part of your business. Items commonly referred to as goods, wares, and merchandise that are held for sale.