Form 4562 Irs
October 31st, 2009Question: IRS Form 4562 – cant figure out how to fill out the form.?
Trying to depreciate a computer I purchased for my business in 2008. Could some one walk me through the from from 1 to Schedule-C?
The cost is $1262
Looks like the fastest way is 200% DB over 4 years (514 – 309 – 257 – 206).This form has me completely stumped. After fighting it for over 2 hours I still can figure how to make my way over to 1040 Schedule-C line 13.
PS: if there is a way to depreciate it all at once, please let me know.
Thank you!
I’ve read the instructions and cant figure it out.
Answer: You're making it much to complicated. Your computer qualifies as section 179 property, machinery and equipment This gives you a deduction of 100% of the cost this year, no depreciation schedule needed. Line 26d enter cost, Line 26h enter cost again as deduction. See the link or read the 4562 instructions regarding section 179 property.
An exception to passive activity loss rules
The maximum loss an individual can claim from actively managed rental activities is $25,000.
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