Use the Auto Information and Depreciation Worksheet to enter standard mileage information, actual expenses related to an auto, to answer questions related to an auto and to enter depreciation for the rental property.
The Auto Information and Depreciation Worksheet provides for the calculation of depreciation for MACRS assets only.
Current year federal regular and AMT depreciation is computed for each MACRS asset and Form 4562 is prepared. Also, a federal depreciation detail statement is prepared for all assets to support the regular tax depreciation computations. A separate federal AMT depreciation report is prepared for applicable assets on an asset by asset basis to support alternative minimum tax depreciation computations.
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