What Is a Form 4562?

  • Tax

Overview

Form 4562 is an Internal Revenue Service document used to report depreciation and amortization on business assets. It captures annual deductions for property placed in service during the tax year.

Purpose

The form enables taxpayers to claim depreciation under the Modified Accelerated Cost Recovery System (MACRS), deduct section 179 expenses for qualifying property, and amortize certain intangible assets.

Who Must File

Any business, sole proprietor, partnership, corporation or S corporation that:

  • Claims depreciation or amortization deductions
  • Elects a section 179 deduction
  • Reports a listed vehicle or other special assets

Key Sections

1. Section A: Election to Expense Property (section 179)
2. Section B: Special Depreciation Allowance
3. Section C: MACRS Depreciation
4. Section D: Listed Property
5. Section E: Amortization

Filing Details

Form 4562 is attached to the taxpayer’s annual return (for example, Form 1040 Schedule C or Form 1120). Accurate asset cost, service dates and recovery periods must be documented to support claimed deductions.

R&D Offer Quiz

Step 1 of 3

Answer to find out if you're eligible for R&D tax credits.

Do the activities performed relate to a new or improved business component’s function, performance, reliability, quality, or composition?(Required)
For Example: A mid-sized packaging company develops a slightly modified cardboard box design to improve its stacking strength (reliability) for warehouse storage, involving minor adjustments to the corrugation pattern to reduce collapse under standard weight loads.
Is your company trying to discover information to eliminate uncertainty concerning the capability or method for developing or improving a business component?(Required)
For Example: A furniture manufacturer investigates whether a cheaper wood adhesive can hold joints as effectively as the current one during assembly, testing bond strength to resolve doubts about its capability in standard production lines.
Do the activities performed constitute a process of experimentation?(Required)
For Example: An auto parts supplier runs a series of bench tests on different lubricant formulations to find one that reduces friction in engine bearings more effectively, systematically comparing wear rates over simulated operating cycles.