CCH Axcess Tax

Form 4562, Page 1

Notes:

This form is not required if there are no acquisitions of current year assets, carryover of Section 179 or listed property. This form may be forced to print by using: General > Depreciation and Depletion Options and Overrides > Depreciation Option > Prepare Form 4562 if not required
Each asset must have a unique asset number. Depreciation and Amortization (Form 4562) can be combined with Employee Business Expense, Profit or Loss from Business (Schedule C), Rent and Royalty (Schedule E), and Profit or Loss from Farming (Schedule F). Other depreciation options are also available on General > Depreciation and Depletion Options and Overrides > Depreciation and Amortization Totals (Form 4562) should not be combined with any other depreciation forms for the same attachment entity.

Government Form		CCH Axcess Input
		Worksheet	Section	Field
Name		General > Basic Data	General	First Name > Taxpayer Initial > Taxpayer Last Name > Taxpayer First Name > Spouse Initial > Spouse Last Name > Spouse
Identifying number		General > Basic Data	General	Social security number > Taxpayer
Identifying number		General > Basic Data	General	Social security number > Spouse
Business or activity to which this form relates		Any of the following: Income > Itemized Deductions Business Farm/4835 Rent and Royalty Employee Business Expenses Partnership Passthrough S Corporation Passthrough Fiduciary Passthrough Fiduciary Passthrough (A)	Depreciation and Amortization (Form 4562)
Part I
Note: Assets to be included on Form 4562, Part I, must have valid entries for method, life, a current year date placed in service and an amount in Income/Deduction > Itemized Deductions > Depreciation and Amortization (Form 4562) > General > Section 179/bonus
1	Calculated
1		General > Depreciation and Depletion Options and Overrides	Depreciation Options	Section 179 maximum dollar limitation
2		Any of the following: Income > Itemized Deductions Business Farm/4835 Rent and Royalty Employee Business Expenses Partnership Passthrough S Corporation Passthrough Fiduciary Passthrough Fiduciary Passthrough (A)	Depreciation and Amortization (Form 4562) > Detail > General	Cost or other basis adjusted by 179/bonus and business percentage
2		General > Depreciation and Depletion Options and Overrides	Depreciation Options	Cost of property eligible for Section 179 - Override
3	Calculated
3		General > Depreciation and Depletion Options and Overrides	Depreciation Options	Threshold cost of section 179 property before reduction - Override
4	Calculated
5	Calculated
5		General > Depreciation and Depletion Options and Overrides	Depreciation Options	Maximum Section 179 expense if married filing separately - Override
6a		Any of the following: Income > Itemized Deductions Business Farm/4835 Rent and Royalty Employee Business Expenses Partnership Passthrough S Corporation Passthrough Fiduciary Passthrough Fiduciary Passthrough (A)	Depreciation and Amortization (Form 4562) > Detail > General	Description
6b		Any of the following: Income > Itemized Deductions Business Farm/4835 Rent and Royalty Employee Business Expenses Partnership Passthrough S Corporation Passthrough Fiduciary Passthrough Fiduciary Passthrough (A)	Depreciation and Amortization (Form 4562) > Detail > General	Cost or other basis
6c		Any of the following: Income > Itemized Deductions Business Farm/4835 Rent and Royalty Employee Business Expenses Partnership Passthrough S Corporation Passthrough Fiduciary Passthrough Fiduciary Passthrough (A)	Depreciation and Amortization (Form 4562) > Detail > General	Section 179/bonus
7	Calculated
8	Calculated
9	Calculated
10		Any of the following: Income > Itemized Deductions Business Farm/4835 Rent and Royalty Employee Business Expenses Partnership Passthrough S Corporation Passthrough Fiduciary Passthrough Fiduciary Passthrough (A)	Depreciation and Amortization (Form 4562) > Detail > General	Section 179/bonus
	IF
	Method = "CO"
		Any of the following: Income > Partnership Passthrough S Corporation Passthrough	Activity	Section 179 expense deduction
11	Schedule C, line 31
	Schedule E, line 28(j) if the corresponding K-1 is an S Corporation
	Schedule F, line 36
	Form 1040, line 1
	IRS-1099NEC, Nonemployee Compensation
		Income > Partnership Passthrough	General - Activity	Net earnings (loss) from self-employment
		Income > Wages, Salaries and Tips	Wages and Salaries > Detail > IRS W-2	Wages, tips, other comp
	IF
		Income > Wages, Salaries and Tips	Wages and Salaries > Detail > IRS W-2	Not trade or business income is blank
	AND
		General > Depreciation and Depletion Options and Override	Depreciation Options	Exclude wages from trade or business income for Section 179 calculation - 1040 only is blank
		Foreign > Expatriate Wages	Expatriate Wages > Detail > Wages	Base wages
	IF
		Foreign > Expatriate Wages	Expatriate Wages > Detail > Wages	Not trade or business income is blank
	AND
		General > Depreciation and Depletion Options and Overrides	Depreciation Options	Exclude wages from trade or business income for Section 179 calculation - 1040 only is blank
	Non-passive Section 1231 income
	IF
		General > Depreciation and Depletion Options and Overrides	Depreciation Options	Include all Section 1231 income in trade or business income from Section 179
	All Section 1231 income
	IF
		General > Depreciation and Depletion Options and Overrides	Depreciation Options	Include all Section 1231 income in trade or business income from Section 179
		General > Depreciation and Depletion Options and Overrides	Depreciation Options	Business income for Section 179 limitation - Override
12	Calculated
13	Calculated
Part II (current year acquisitions only)
14	Calculated
		Any of the following: Income > Itemized Deductions Business Farm/4835 Rent and Royalty Employee Business Expenses Partnership Passthrough S Corporation Passthrough Fiduciary Passthrough Fiduciary Passthrough (A)	Depreciation and Amortization (Form 4562) > Detail > General	Bonus depreciation option
	OR
		Any of the following: Income > Itemized Deductions Business Farm/4835 Rent and Royalty Employee Business Expenses Partnership Passthrough S Corporation Passthrough Fiduciary Passthrough Fiduciary Passthrough (A)	Depreciation and Amortization (Form 4562) > Detail > General	Bonus depreciation
15	Calculated for assets with Units of Production method in
		Any of the following: Income > Itemized Deductions Business Farm/4835 Rent and Royalty Employee Business Expenses Partnership Passthrough S Corporation Passthrough Fiduciary Passthrough Fiduciary Passthrough (A)	Depreciation and Amortization (Form 4562) > Detail > General	Method
	AND entries in
		Income > Business	Depletion
	OR
		Income > Rent and Royalty	Depletion
	OR
		Income > Partnership Passthrough	Depletion
	OR
		Income > S Corporation Passthrough	Depletion
	Note: The depletion number on Depreciation and Amortization (Form 4562) > Detail > Depletion property number must be entered to carry to Depletion Schedule
16	Calculated for assets with a date placed in service prior to 01-01-87 and/or a valid straight line or ACRS method from Depreciation and Amortization entries
Part III
Section A
17	Calculated for assets with a prior year date placed in service that is post 12-31-86 and/or a valid MACRS method
18		Depreciation and Amortization (Form 4562)	Other Information	Electing Section 168(i)(4) to group any assets placed in service during the tax year into one or more general asset accounts
Section B
Note: Assets to be included on Form 4562, Section B, must have valid entries for method, life and a current year date placed in service on the Depreciation and Amortization (Form 4562) worksheet.
19a through 19i, Column a	Preprinted
19h through 19i, Column b		Any of the following: Income > Itemized Deductions Business Farm/4835 Rent and Royalty Employee Business Expenses Partnership Passthrough S Corporation Passthrough Fiduciary Passthrough Fiduciary Passthrough (A)	Depreciation and Amortization (Form 4562) > Detail > General	Date in service
19a through 19i Column c	Calculated from the following entries:
		Any of the following: Income > Itemized Deductions Business Farm/4835 Rent and Royalty Employee Business Expenses Partnership Passthrough S Corporation Passthrough Fiduciary Passthrough Fiduciary Passthrough (A)	Depreciation and Amortization (Form 4562) > Detail > General	Cost or other basis
		Any of the following: Income > Itemized Deductions Business Farm/4835 Rent and Royalty Employee Business Expenses Partnership Passthrough S Corporation Passthrough Fiduciary Passthrough Fiduciary Passthrough (A)	Depreciation and Amortization (Form 4562) > Detail > General	Section 179/bonus
		Any of the following: Income > Itemized Deductions Business Farm/4835 Rent and Royalty Employee Business Expenses Partnership Passthrough S Corporation Passthrough Fiduciary Passthrough Fiduciary Passthrough (A)	Depreciation and Amortization (Form 4562) > Detail > General	Bonus depreciation
		Any of the following: Income > Itemized Deductions Business Farm/4835 Rent and Royalty Employee Business Expenses Partnership Passthrough S Corporation Passthrough Fiduciary Passthrough Fiduciary Passthrough (A)	Depreciation and Amortization (Form 4562) > Detail > General	ITC adjustment/salvage
	AND
	Business or ownership percentage
19a through 19f, Column d		Any of the following: Income > Itemized Deductions Business Farm/4835 Rent and Royalty Employee Business Expenses Partnership Passthrough S Corporation Passthrough Fiduciary Passthrough Fiduciary Passthrough (A)	Depreciation and Amortization (Form 4562) > Detail > General	Life/rate
19g through 19h, Column d	Preprinted
19i, Column d		Any of the following: Income > Itemized Deductions Business Farm/4835 Rent and Royalty Employee Business Expenses Partnership Passthrough S Corporation Passthrough Fiduciary Passthrough Fiduciary Passthrough (A)	Depreciation and Amortization (Form 4562) > Detail > General	Life
19a through 19g, Column e	Half-year convention unless mid-quarter if the 40% requirement is met
	OR
		Any of the following: Income > Itemized Deductions Business Farm/4835 Rent and Royalty Employee Business Expenses Partnership Passthrough S Corporation Passthrough Fiduciary Passthrough Fiduciary Passthrough (A)	Depreciation and Amortization (Form 4562) > Detail > General	Quarter number
		General > Depreciation and Depletion Options and Overrides	Depreciation Options	MACRS convention code - override
19h through 19i, Column e	Preprinted
19a through 19f, Column f	Calculated from the following entries:
19a through 19f, Column f		Any of the following: Income > Itemized Deductions Business Farm/4835 Rent and Royalty Employee Business Expenses Partnership Passthrough S Corporation Passthrough Fiduciary Passthrough Fiduciary Passthrough (A)	Depreciation and Amortization (Form 4562) > Detail > General	Method
19g through 19h, Column f	Preprinted
19a through 19i, Column g	Calculated
		Any of the following: Income > Itemized Deductions Business Farm/4835 Rent and Royalty Employee Business Expenses Partnership Passthrough S Corporation Passthrough Fiduciary Passthrough Fiduciary Passthrough (A)	Depreciation and Amortization (Form 4562) > Detail > General	Current year depreciation
	IF
		Any of the following: Income > Itemized Deductions Business Farm/4835 Rent and Royalty Employee Business Expenses Partnership Passthrough S Corporation Passthrough Fiduciary Passthrough Fiduciary Passthrough (A)	Depreciation and Amortization (Form 4562) > Detail > General	Code to force contains Code "1," "3," "1A," or "3A"
	OR
		General > Depreciation and Depletion Options and Overrides	Depreciation Options	Code to force accountant computed depreciation on all assets contains Code "1" or "3" - Override
20a through 20c, Columns b through g	Calculated for assets with a current year date placed in service and a method of "ADS".
		Any of the following: Income > Itemized Deductions Business Farm/4835 Rent and Royalty Employee Business Expenses Partnership Passthrough S Corporation Passthrough Fiduciary Passthrough Fiduciary Passthrough (A)	Depreciation and Amortization (Form 4562) > Detail > General	Date in service
		Any of the following: Income > Itemized Deductions Business Farm/4835 Rent and Royalty Employee Business Expenses Partnership Passthrough S Corporation Passthrough Fiduciary Passthrough Fiduciary Passthrough (A)	Depreciation and Amortization (Form 4562) > Detail > General	Cost or other basis
		Any of the following: Income > Itemized Deductions Business Farm/4835 Rent and Royalty Employee Business Expenses Partnership Passthrough S Corporation Passthrough Fiduciary Passthrough Fiduciary Passthrough (A)	Depreciation and Amortization (Form 4562) > Detail > General	Life/rate
		Any of the following: Income > Itemized Deductions Business Farm/4835 Rent and Royalty Employee Business Expenses Partnership Passthrough S Corporation Passthrough Fiduciary Passthrough Fiduciary Passthrough (A)	Depreciation and Amortization (Form 4562) > Detail > General	Method
Part IV
21	Calculated
22	Calculated
23		Any of the following: Income > Itemized Deductions Business Farm/4835 Rent and Royalty Employee Business Expenses Partnership Passthrough S Corporation Passthrough Fiduciary Passthrough Fiduciary Passthrough (A)	Depreciation and Amortization (Form 4562) > Detail > General	Cost or other basis
	IF
		Any of the following: Income > Itemized Deductions Business Farm/4835 Rent and Royalty Employee Business Expenses Partnership Passthrough S Corporation Passthrough Fiduciary Passthrough Fiduciary Passthrough (A)	Depreciation and Amortization (Form 4562) > Detail > General	Code to force contains Code "A," "1A," "2A" or "3A"

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