There are some screens that show a box labeled MFC or “Multi-form code.” What is the Multi-form code box used for?
The multi-form code box is used to direct income or deductions from one screen/form to another.
This taxpayer is depreciating some assets on form 4562. The assets being entered belong to the taxpayer's pizza restaurant. Since the taxpayer/spouse have 3 separate businesses, we need to direct the depreciation to the proper Schedule C by using the multi-form code.
The way to determine which multi-form code to use, is determined by the order that you created the Schedule C forms. In the screenshot below, you will see the second Schedule C is for his pizza restaurant. Since the restaurant is the second form on the list, you would enter on the 4562 screen an MFC of 2.
Using Multiform Code with Schedule E Rental Properties
When you are using the multiform code with rental properties on Schedule E, the multiform code refers to the property, not the Schedule E.
The Drake User's Manual covers this in Basics > Data Entry > Associating One Screen with Another:
"For Schedule E rental properties, each property (in other words, each screen) has a separate multi-form code. The MFC number used on the asset screen (for instance, on screen 4562) for a Schedule E should refer to the property (to the screen the property is listed on), not the instance of the Schedule E. (Up to three properties are printed on a Schedule E.)"
Note: When there are multiple depreciation detail screens and multiple Schedule E properties, the software will generate a 4562 for each property.