Federal Depreciation and Amortization (Including Information on Listed Property)

Depreciation and Amortization (Including Information on Listed Property)
2023 Form 4562
4562

(Including Information on Listed Property)

Department of the Treasury
Internal Revenue Service

Attach to your tax return.
Go to www.irs.gov/Form4562 for instructions and the latest information.

Form

Depreciation and Amortization

Name(s) shown on return

Part I
1
2
3
4
5

OMB No. 1545-0172

Identifying number

Business or activity to which this form relates

Election To Expense Certain Property Under Section 179
Note: If you have any listed property, complete Part V before you complete Part I.

Maximum amount (see instructions) . . . . . . . . . . . . . . . . . .
Total cost of section 179 property placed in service (see instructions)
. . . . . .
Threshold cost of section 179 property before reduction in limitation (see instructions) .
Reduction in limitation. Subtract line 3 from line 2. If zero or less, enter -0- . . . . .
Dollar limitation for tax year. Subtract line 4 from line 1. If zero or less, enter -0-. If
separately, see instructions . . . . . . . . . . . . . . . . . . . .

6

2023

Attachment
Sequence No. 179

(a) Description of property

(b) Cost (business use only)

. . .
. . .
. . .
. . .
married
. . .

. .
. .
. .
. .
filing
. .

8
9
10
11
12

Special Depreciation Allowance and Other Depreciation (Don’t include listed property. See instructions.)

14 Special depreciation allowance for qualified property (other
during the tax year. See instructions . . . . . . . . .
15 Property subject to section 168(f)(1) election . . . . . .
16 Other depreciation (including ACRS) . . . . . . . .

Part III

5

(c) Elected cost

7 Listed property. Enter the amount from line 29 . . . . . . . . .
7
8 Total elected cost of section 179 property. Add amounts in column (c), lines 6 and 7
. . . . . .
9 Tentative deduction. Enter the smaller of line 5 or line 8 . . . . . . . . . . . . . . . .
10 Carryover of disallowed deduction from line 13 of your 2022 Form 4562 . . . . . . . . . . .
11 Business income limitation. Enter the smaller of business income (not less than zero) or line 5. See instructions
12 Section 179 expense deduction. Add lines 9 and 10, but don’t enter more than line 11 . . . . . .
13
13 Carryover of disallowed deduction to 2024. Add lines 9 and 10, less line 12
.
Note: Don’t use Part II or Part III below for listed property. Instead, use Part V.

Part II

1
2
3
4

than
. .
. .
. .

listed
. .
. .
. .

property) placed in service
. . . . . . . . . .
. . . . . . . . . .
. . . . . . . . . .

14
15
16

MACRS Depreciation (Don’t include listed property. See instructions.)

Section A
17 MACRS deductions for assets placed in service in tax years beginning before 2023 . . . . . . .
18 If you are electing to group any assets placed in service during the tax year into one or more general
asset accounts, check here . . . . . . . . . . . . . . . . . . . . . . .

17

Section B—Assets Placed in Service During 2023 Tax Year Using the General Depreciation System
(a) Classification of property

19a
b
c
d
e
f
g
h
i

20a
b
c
d

(b) Month and year
placed in
service

(c) Basis for depreciation
(business/investment use
only—see instructions)

(d) Recovery
period

(e) Convention

(f) Method

(g) Depreciation deduction

3-year property
5-year property
7-year property
10-year property
15-year property
20-year property
25 yrs.
S/L
25-year property
27.5 yrs.
MM
S/L
Residential rental
27.5 yrs.
MM
S/L
property
39 yrs.
MM
S/L
Nonresidential real
MM
S/L
property
Section C—Assets Placed in Service During 2023 Tax Year Using the Alternative Depreciation System
S/L
Class life
12 yrs.
S/L
12-year
30 yrs.
MM
S/L
30-year
40 yrs.
MM
S/L
40-year

Part IV

Summary (See instructions.)

21 Listed property. Enter amount from line 28 . . . . . . . . . . . . . . . . . . . .
22 Total. Add amounts from line 12, lines 14 through 17, lines 19 and 20 in column (g), and line 21. Enter
here and on the appropriate lines of your return. Partnerships and S corporations—see instructions .
23 For assets shown above and placed in service during the current year, enter the
portion of the basis attributable to section 263A costs . . . . . . . . .
23
For Paperwork Reduction Act Notice, see separate instructions.

Cat. No. 12906N

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Form 4562 (2023)

Page 2

Form 4562 (2023)

Part V

Listed Property (Include automobiles, certain other vehicles, certain aircraft, and property used for
entertainment, recreation, or amusement.)

Note: For any vehicle for which you are using the standard mileage rate or deducting lease expense, complete only 24a,
24b, columns (a) through (c) of Section A, all of Section B, and Section C if applicable.
Section A—Depreciation and Other Information (Caution: See the instructions for limits for passenger automobiles.)
24a Do you have evidence to support the business/investment use claimed?
24b If “Yes,” is the evidence written?
Yes
No
Yes
No
(c)
(a)
(b)
Business/
(d)
Type of property (list Date placed
investment use Cost or other basis
vehicles first)
in service
percentage

(e)
Basis for depreciation
(business/investment
use only)

(f)
Recovery
period

(g)
Method/
Convention

(h)
Depreciation
deduction

(i)
Elected section 179
cost

25 Special depreciation allowance for qualified listed property placed in service during
the tax year and used more than 50% in a qualified business use. See instructions .
25
26 Property used more than 50% in a qualified business use:
%
%
%
27 Property used 50% or less in a qualified business use:
S/L –
%
S/L –
%
S/L –
%
28 Add amounts in column (h), lines 25 through 27. Enter here and on line 21, page 1 .
28
29 Add amounts in column (i), line 26. Enter here and on line 7, page 1 . . . . . . . . . . . .
29
Section B—Information on Use of Vehicles
Complete this section for vehicles used by a sole proprietor, partner, or other “more than 5% owner,” or related person. If you provided vehicles
to your employees, first answer the questions in Section C to see if you meet an exception to completing this section for those vehicles.
(a)

(b)

(c)

(d)

(e)

(f)

Vehicle 1
Vehicle 2
Vehicle 3
Vehicle 4
Vehicle 5
Vehicle 6
30 Total business/investment miles driven during
the year (don’t include commuting miles) .
31 Total commuting miles driven during the year
32 Total other personal (noncommuting)
miles driven
. . . . . . . . .
33 Total miles driven during the year. Add
lines 30 through 32 . . . . . . .
34 Was the vehicle available for personal
Yes
No
Yes
No
Yes
No
Yes
No
Yes
No
Yes
No
use during off-duty hours? . . . . .
35 Was the vehicle used primarily by a more
than 5% owner or related person? . .
36 Is another vehicle available for personal use?
Section C—Questions for Employers Who Provide Vehicles for Use by Their Employees
Answer these questions to determine if you meet an exception to completing Section B for vehicles used by employees who aren’t
more than 5% owners or related persons. See instructions.

37 Do you maintain a written policy statement that prohibits all personal use of vehicles, including commuting, by
your employees? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
38 Do you maintain a written policy statement that prohibits personal use of vehicles, except commuting, by your
employees? See the instructions for vehicles used by corporate officers, directors, or 1% or more owners . .
39 Do you treat all use of vehicles by employees as personal use?
. . . . . . . . . . . . . . . .
40 Do you provide more than five vehicles to your employees, obtain information from your employees about the
use of the vehicles, and retain the information received? . . . . . . . . . . . . . . . . . . .
41 Do you meet the requirements concerning qualified automobile demonstration use? See instructions . . . .
Note: If your answer to 37, 38, 39, 40, or 41 is “Yes,” don’t complete Section B for the covered vehicles.

Part VI

Yes

No

Amortization
(a)
Description of costs

(b)
Date amortization
begins

(c)
Amortizable amount

(e)
Amortization
period or
percentage

(d)
Code section

(f)
Amortization for this year

42 Amortization of costs that begins during your 2023 tax year (see instructions):

43 Amortization of costs that began before your 2023 tax year . . . . . .
44 Total. Add amounts in column (f). See the instructions for where to report .

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Form 4562 (2023)