IRS Form 4562
Claim depreciation, the section 179 deduction, and amortization for business property.
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About IRS Form 4562
Form 4562, Depreciation and Amortization, is used to claim your deduction for the cost of business or investment property over time. It covers the section 179 election to expense certain property, special depreciation allowances, regular depreciation under the modified accelerated cost recovery system, listed property, and amortization.
This page is a general guide and a fillable helper, not tax advice. Always download and file the current official form from the IRS at https://www.irs.gov/forms-pubs/about-form-4562 and confirm the fields and current limits match before you file.
Who needs to complete it
- Business owners placing new equipment or property in service during the year.
- Landlords claiming depreciation on rental property reported on Schedule E.
- Taxpayers electing to expense qualifying property under section 179.
- Anyone claiming depreciation on listed property such as certain vehicles.
How to fill out IRS Form 4562
- 1Enter the name shown on your return and the business or activity the form relates to.
- 2In Part I, elect the section 179 deduction and enter the cost of qualifying property within the limit.
- 3In Part II, enter any special depreciation allowance for qualified property.
- 4In Part III, enter regular depreciation using the correct recovery method and period.
- 5In Part V, enter information for listed property, including business use percentage.
- 6In Part VI, enter amortization that begins during the year.
- 7Total the deductions and carry the amount to the related return or schedule.
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Frequently asked questions
What is the section 179 deduction?
Section 179 lets you expense the cost of certain qualifying property in the year you place it in service, instead of depreciating it over several years, up to a limit set by law. This is a general guide, not tax advice, and you should download and file the current official form from the IRS.
Do I file a separate Form 4562 for each business?
You generally complete a separate Form 4562 for each business or activity that has depreciation or amortization. Check the current instructions for exceptions.
What is listed property?
Listed property includes certain assets that can be used for both business and personal reasons, such as some vehicles. You report the business use percentage in the listed property part.
Is this the official IRS form?
This is a fillable helper to make completion easier. Always download and file the current official form from the IRS at https://www.irs.gov/forms-pubs/about-form-4562 and confirm the fields match.