Electronic filing guidelines for the 4562 screen
The IRS requires that you enter the following information in the following sections of the 4562 screen.
note
If you enter detailed asset information in the Asset module, UltraTax CS automatically uses these electronic filing guidelines. If you enter summary asset information in the 4562 screen, use the following data entry guidelines.
Part III: MACRS Depreciation
The
Convention
fields in this section for Part III, lines 19 and 20, column (e) Convention, need the following entries. Any other entry in these fields won't transfer to the electronic file and may cause the IRS to reject the return.Entry | Description |
|---|---|
200DB | 200% declining balance method |
150DB | 150% declining balance method |
DB | Declining balance method |
S/L | Straight line method |
Part V: Listed Property
The Method column in the statement window for Part V, line 26, column (g) Method/Convention, needs any combination of prefix and suffix of the following entries. Any other entry for the prefix or suffix in this column won't transfer to the electronic file and may cause the IRS to reject the return.
Method prefix | Convention suffix | Example of entry | Description of entry |
|---|---|---|---|
200DB | HY | 200DBHY | 200% double-declining method and half-year convention |
150DB | MQ | 200DBMQ | 200% double-declining method and mid-quarter convention |
DB | MM | 150DBHY | 150% double-declining method and half-year convention |
S/L | N/A | S/L-HY | Straight-line method and half-year convention |
The Convention column in the statement window for Part V, line 27, column (g) Convention, requires the following entries. Any other entry in this column won't transfer to the electronic file and may cause the IRS to reject the return.
Entry | Description |
|---|---|
HY | Half year |
MQ | Mid-quarter |
MM | Mid month |
