Use the Auto Information, Depreciation and Listed Property Questions worksheet to enter standard mileage information and actual expenses related to an auto, to enter depreciation for the taxpayer's business and to answer questions related to an auto.
The Auto Information, Depreciation and Listed Property Questions 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 also prepared on an asset by asset basis to support alternative minimum tax depreciation computations.
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