Fill out Form 4562 (Depreciation and Amortization) online
Form 4562 is used to claim deductions for depreciation and amortization of business assets, including the Section 179 expense deduction and bonus depreciation. It applies to tangible property (equipment, vehicles, buildings) and intangible assets (patents, copyrights, goodwill) placed in service during the tax year.
How to fill out Form 4562 (Depreciation and Amortization)
Claim the Section 179 deduction (Part I)
List any assets for which you are electing the Section 179 expense deduction. Enter the cost of each asset and the elected amount. The total Section 179 deduction is subject to an annual dollar limit and a business income limitation.
Claim bonus depreciation (Part II)
Enter qualified assets eligible for special (bonus) depreciation. Bonus depreciation allows you to deduct a large percentage of the cost of eligible assets in the first year they are placed in service.
Calculate MACRS depreciation (Part III)
For assets not fully expensed under Section 179 or bonus depreciation, calculate the regular MACRS depreciation. Enter each asset by recovery period (3-year, 5-year, 7-year, etc.), convention (half-year or mid-quarter), and method (200% or 150% declining balance, or straight-line).
Report amortization (Part VI)
List intangible assets being amortized, such as goodwill, patents, copyrights, and startup costs. Enter the date the amortization begins, the amortizable amount, and the period over which it is amortized (typically 15 years for Section 197 intangibles).
Carry totals to your tax return
Transfer the total depreciation and amortization deduction to the appropriate line of your business return (Schedule C, Schedule E, Form 1065, or Form 1120/1120-S).
About Form 4562 (Depreciation and Amortization)
Who needs this form
Business owners, self-employed individuals, and landlords who are claiming depreciation on newly acquired assets, the Section 179 expense deduction, bonus depreciation, or amortization of intangible assets. A new Form 4562 must be filed each year you place assets in service or claim the Section 179 deduction.
Where to submit
Attach Form 4562 to your business tax return (Schedule C, Schedule E, Form 1065, Form 1120, or Form 1120-S). A separate Form 4562 is required for each business activity.
Source and content freshness
- Reviewed: 2026-02-24
- Filing deadlines may shift for weekends and holidays. Verify due dates with official instructions.
Common mistakes to avoid
- Exceeding the annual Section 179 deduction limit or the business income limitation (Section 179 cannot create a loss)
- Not separating land from building cost when depreciating real property (land is not depreciable)
- Using the wrong MACRS recovery period or depreciation method for the type of asset
- Failing to list vehicles separately and apply the luxury automobile depreciation limits
Frequently asked questions
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What is the difference between Section 179 and bonus depreciation?
Section 179 allows you to immediately expense the cost of qualifying business assets up to an annual dollar limit, but the deduction cannot exceed your business income for the year. Bonus depreciation also allows immediate expensing of a large percentage of the cost, but it has no annual dollar cap and can create or increase a net operating loss. Both apply to new and used property, but the rules for qualifying assets differ slightly.
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