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Print > Options > Form 4562 tab

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Fixed Assets CS lets you to print a submittable Form 4562 (Depreciation and Amortization) for the active client. The Form 4562 Worksheet is a non-submittable listing of the asset detail for Form 4562 amounts.
To open this window, select
Print
 or
File
, then
Print
. In the Print window, select the
Forms
 tab, then
Form 4562
 or
Form 4562 Worksheet
. Select
Options
, then the
Form 4562
 tab.
note
  • If the client has multiple business activities, mark the
    Print activities individually
     checkbox to have the application print a separate Form 4562 for each activity. Otherwise, Fixed Assets CS combines all assets for reporting purposes, regardless of the business activity.
  • The export option isn't available for forms.
  • To apply the section 168(i)(4) election to activities on Form 4562, Part III, see the 168(i)(4) Election window.

Fields & buttons

Treatment
Select a treatment from the dropdown list. (This field defaults to Tax.)
Print activities individually
If the client has multiple business activities, mark the
Print activities individually
 checkbox to have the application print a separate Form 4562 for each activity. Otherwise, Fixed Assets CS combines all assets for reporting purposes, regardless of the business activity.
Skip printing of Part V, Section B: Information on Use of Vehicles
Mark this checkbox to have Fixed Assets CS leave this portion of Form 4562 blank.
Do not include assets marked as tracking partner's outside basis
Mark this checkbox to exclude from the current form any assets for which the
Tracking partner's outside basis (1065 only)
 checkbox is marked on the
Asset Detail
,
Other
 tab.
note
This checkbox is available only for 1065 clients.
Total cost of Section 179 property
Fixed Assets CS automatically calculates the total cost of section 179 property (displayed in the shaded field). If you want to use a different value, enter it in the field next to the shaded field. The total cost of section 179 property amount transfers directly to Form 4562, line 2, and is used to calculate line 4 of the form.
Section 179 expense from Schedule K-1 (Form 1065)
Enter the section 179 expense amount from Schedule K-1 for 1065 clients. The amount entered here transfers directly to Form 4562, line 6, and is used to calculate lines 8, 9, 12, and 22 on the form.
Section 179 expense from Schedule K-1 (Form 1120S)
Enter the section 179 expense amount from Schedule K-1 for 1120S clients. The amount entered here transfers directly to Form 4562, line 6, and is used to calculate lines 8, 9, 12, and 22 on the form.
Carryover of disallowed deduction
Enter any carryover amount of the disallowed section 179 deduction. The amount entered here transfers directly to Form 4562, line 10.
Portion of basis attributable to Section 263A costs
Enter the portion of basis attributable to section 263A costs. The amount entered here transfers directly to Form 4562, line 23.

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