Drake Tax - 4562: Salvage Value

Salvage value on the 4562

The salvage value of an asset is the "... estimated value of property at the end of its useful life. Not used under MACRS." (per Publication 946).

To enter the salvage value of an asset, go to the 4562 screen and enter the salvage value in the Salvage Value field. The system deducts the salvage value from the cost to obtain the depreciable basis.

For more information on salvage value, see Publication 946 or the Form 4562 Instructions.