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Generating FL Form DR-405 Individual Tangible Personal Property Tax Return
by Intuit•1• Updated 3 months ago
How do I generate FL Form DR-405?
Solution:
Per the FL Form DR-405 Instructions,
Include on your return:
- 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.
- Inventory held for lease. Examples: equipment, furniture, or fixtures after their first lease or rental.
- Equipment on some vehicles. Examples: power cranes, air compressors, and other equipment used primarily as a tool rather than a hauling vehicle.
- Property personally owned, but used in the business.
- Fully depreciated items, whether written off or not. Report at original installed cost.
Do not include:
- Intangible Personal Property. Examples: money, all evidences of debt owed to the taxpayer, all evidence of ownership in a corporation.
- 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.
- Most automobiles, trucks, and other licensed vehicles. See 3 above.
- Inventory that is for sale as part of your business. Items commonly referred to as goods, wares, and merchandise that are held for sale.
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