Illinois Special Depreciation

Special Depreciation
2023 Form IL-4562, Special Depreciation
Use your mouse or Tab key to move through the fields. Use your mouse or space bar to enable check boxes.

		

		
	
	

Illinois
Department of Revenue	
			
			

*62212231W*

2023 IL-4562			 Year ending
Special Depreciation

_____ _____
Month

For tax years ending on or after December 31, 2023.

Attach to your Form IL-1120, IL-1120-ST, IL-1065, IL-1041, or IL-1040.

Year

IL Attachment No. 11

Step 1:	 Provide the following information
Enter your name as shown on your return.	
	
	

Enter your Social Security number (SSN) or
federal employer identification number (FEIN).

You must read the instructions before completing Form IL-4562. Do not use negative figures.

Step 2:	 Figure your Illinois special depreciation addition
	 1		

Enter the total amount claimed as a special depreciation allowance on your current federal Form 4562,
Depreciation and Amortization, Lines 14 and 25, for property acquired after September 10, 2001. 	
1		
Individuals only: Enter the total amount claimed as a special depreciation allowance from
federal Form 2106, Employee Business Expenses.  	2		
	 3		 Last year of regular depreciation: Enter the total amount of all Illinois depreciation subtractions
			claimed on this year and any prior year Forms IL-4562, Step 3, for each property. See instructions.	
3		
	 4	 	 Add Lines 1 through 3. This is your Illinois special depreciation addition. Enter the total here and	
			 see instructions for the list of Illinois form and line references to report this addition.	
4		
	 		
	 2		
	 		

Step 3:	 Figure your Illinois special depreciation subtraction

For Lines 7, 11, 12, and 14 - Enter the portion of depreciation allowance claimed on federal Form 4562 for property for which
you claimed bonus depreciation equal to the listed percent of your basis in the property. Individuals - Enter the portion of
depreciation allowance claimed for bonus depreciation equal to the listed percent of your basis in the property.
	 5	a	 RESERVED	
5	a	 RESERVED

	
	b	
		c	
	 6		
	 7	a	
	
	b	
		c	
	 8		
	 9	a	
	
	b	
		c	
	10		
	11	a	
		
b	
		c	
	12	 a	
	
	b	
		c	
	13		
	14	 a	
		
b	
		c	
	15		
	16		
			
	17	 	
	18	 	
	 		
	 19		

			

RESERVED	

5	b	 RESERVED
5	c	 RESERVED
6	 	 RESERVED
7	a	
7	b	
7	c	
  8	 	
9	a	 RESERVED
9	b	 RESERVED
9	c	 RESERVED
10	 	 RESERVED
11	a	
11	b	
11	c	
12	a	
12	b	
12	c	
13	 	
14	a	
14	b	
14c	
15		

RESERVED	
RESERVED 	
Bonus depreciation equal to 30 percent	
Individuals only: Bonus depreciation equal to 30 percent	
Add Lines 7a and 7b.	
Multiply Line 7c by 42.9 percent (0.429). 	
RESERVED	
RESERVED	
RESERVED	
RESERVED 	

Bonus depreciation equal to 50 percent 	
Individuals only: Bonus depreciation equal to 50 percent 	
Add Lines 11a and 11b.	
Bonus depreciation equal to 60 percent	
Individuals only: Bonus depreciation equal to 60 percent	
Add Lines 12a and 12b.	
Multiply Line 12c by one and one-half (1.5). 	
Bonus depreciation equal to 80 percent 	
Individuals only: Bonus depreciation equal to 80 percent 	
Add Lines 14a and 14b.	
Multiply Line 14c by four (4). 	
Enter the amount of federal depreciation you would have claimed if you elected not to claim
bonus depreciation on your federal return. See instructions.	
16		
Add Lines 8, 11c, 13, 15, and 16.	
17		
Last year of regular depreciation: Enter the Illinois special depreciation addition reported
on any prior year Form IL-4562, Step 2, Line 1 plus Line 2, for each property. See instructions.  	 18	 	
Add Lines 17 and 18. This is your Illinois depreciation subtraction for this year. Enter the total here 	
and see instructions for the list of Illinois form and line references to report this subtraction.	19		
IL-4562 (R-12/23)  

This form is authorized as outlined by the Illinois Income Tax Act. Disclosure of this
information is REQUIRED. Failure to provide information could result in a penalty.

Reset

Print

Printed by the authority of the state
of Illinois - electronic only - one copy.