Form 4562 Not Produced

Common reasons this form does not produce:

• The IRS does not require this form if no assets were purchased in the current tax year.

• If the taxpayer purchased and sold in the same year, the form is not produced.

If you want to print the 4562 when it is not required, you can adjust the setting in Setup > Options > Form & Schedule Options. If you want to print the 4562 just for one return, go to the PRNT screen and select Print 4562.

Page 2 Not Generated

Form 4562 Depreciation and Amortization page 2 consists of "Part V Listed Property" and "Part VI Amortization." If neither of these are indicated in data entry, page 2 of the 4562 is not required to print.

To designate an asset as listed property:

• From the 4562 Item Detail screen, choose a Listed Prop Type from the drop list.

• From 4562 Grid Data Entry, enter the correct letter in the LPT field.

  • Click in the field and press F1 for listed property types.

To amortize an asset:

From the 4562 screen, choose AMT from the method drop list, and a Code section from the drop list in the Amortization section.