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Form 4562 Section 179 Deduction: • IRS Form 4562 (Depreci...
Form 4562 for Disallowed Section 179: • IRS Form 4562 (Depreci...
IRS Form 4562 reports regular depreciation & amortization, Section 179 expense, and special bonus depreciation.
For this example, we look at an S corporation's Form 4562 to claim bonus deprecation on a heavy vehicle and computer equipment. The bonus depreciation amount for 2023 is limited to 80% of the cost basis of the property.
For more information on depreciation for businesses, view the Form 4562 instructions and IRS Publication 946.
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