Form 4562 Depreciation and Amortization (Including Information on

Form

Depreciation and Amortization

4562

Department of the Treasury
Internal Revenue Service

1
2
3
4
5

2008

(Including Information on Listed Property)
©

(99)

See separate instructions.

Name(s) shown on return

Part I

OMB No. 1545-0172

©

Attachment
Sequence No.

Attach to your tax return.

Business or activity to which this form relates

67

Identifying number

Election To Expense Certain Property Under Section 179
Note: If you have any listed property, complete Part V before you complete Part I.

Maximum amount. See the instructions for a higher limit for certain businesses
Total cost of section 179 property placed in service (see instructions)
Threshold cost of section 179 property before reduction in limitation (see instructions)
Reduction in limitation. Subtract line 3 from line 2. If zero or less, enter -0Dollar limitation for tax year. Subtract line 4 from line 1. If zero or less, enter -0-. If married filing
separately, see instructions
(a) Description of property

(b) Cost (business use only)

1
2
3
4

$250,000
$800,000

5

(c) Elected cost

6
7
7 Listed property. Enter the amount from line 29
8
8 Total elected cost of section 179 property. Add amounts in column (c), lines 6 and 7
9
9 Tentative deduction. Enter the smaller of line 5 or line 8
10
10 Carryover of disallowed deduction from line 13 of your 2007 Form 4562
11 Business income limitation. Enter the smaller of business income (not less than zero) or line 5 (see instructions) 11
12 Section 179 expense deduction. Add lines 9 and 10, but do not enter more than line 11
12
13 Carryover of disallowed deduction to 2009. Add lines 9 and 10, less line 12 © 13
Note: Do not use Part II or Part III below for listed property. Instead, use Part V.

Part II
14
15
16

Special Depreciation Allowance and Other Depreciation (Do not include listed property.) (See instructions.)

Special depreciation allowance for qualified property (other than listed property) placed in service
during the tax year (see instructions)
Property subject to section 168(f)(1) election
Other depreciation (including ACRS)

Part III

14
15
16

MACRS Depreciation (Do not include listed property.) (See instructions.)
Section A

17
18

17
MACRS deductions for assets placed in service in tax years beginning before 2008
If you are electing to group any assets placed in service during the tax year into one or more
©
general asset accounts, check here
Section B—Assets Placed in Service During 2008 Tax Year Using the General Depreciation System

(a) Classification of property

19a
b
c
d
e
f
g

3-year
5-year
7-year
10-year
15-year
20-year
25-year

(b) Month and
year placed in
service

(c) Basis for depreciation
(business/investment use
only—see instructions)

property
property
property
property
property
property
property

h Residential rental
property

(d) Recovery
period

25 yrs.
27.5 yrs.
27.5 yrs.
39 yrs.

(e) Convention

(f) Method

MM
MM
MM
MM

S/L
S/L
S/L
S/L
S/L

(g) Depreciation deduction

i Nonresidential real
property
Section C—Assets Placed in Service During 2008 Tax Year Using the Alternative Depreciation System
S/L
20a Class life
b 12-year
12 yrs.
S/L
c 40-year
40 yrs.
MM
S/L

Part IV
21
22
23

Summary (See instructions.)

21
Listed property. Enter amount from line 28
Total. Add amounts from line 12, lines 14 through 17, lines 19 and 20 in column (g), and line 21.
Enter here and on the appropriate lines of your return. Partnerships and S corporations—see instr. 22
For assets shown above and placed in service during the current year,
enter the portion of the basis attributable to section 263A costs
23

For Paperwork Reduction Act Notice, see separate instructions.

Cat. No. 12906N

Form

4562

(2008)

Page 2
Listed Property (Include automobiles, certain other vehicles, cellular telephones, certain computers, and
property used for entertainment, recreation, or amusement.)

Form 4562 (2008)

Part V

Note: For any vehicle for which you are using the standard mileage rate or deducting lease expense, complete only
24a, 24b, columns (a) through (c) of Section A, all of Section B, and Section C if applicable.
Section A—Depreciation and Other Information (Caution: See the instructions for limits for passenger automobiles.)
24a Do you have evidence to support the business/investment use claimed?
Yes No 24b If “Yes,” is the evidence written?
Yes No
(a)
Type of property (list
vehicles first)

25
26

27

28
29

(b)
Date placed in
service

(c)
Business/
investment
use
percentage

(d)
Cost or other
basis

(e)
(f)
Basis for depreciation
Recovery
(business/investment
period
use only)

(g)
Method/
Convention

(h)
Depreciation
deduction

(i)
Elected
section 179
cost

Special depreciation allowance for qualified listed property placed in service during the tax
year and used more than 50% in a qualified business use (see instructions)
25
Property used more than 50% in a qualified business use:
%
%
%
Property used 50% or less in a qualified business use:
%
S/L –
%
S/L –
%
S/L –
28
Add amounts in column (h), lines 25 through 27. Enter here and on line 21, page 1
Add amounts in column (i), line 26. Enter here and on line 7, page 1

29
Section B—Information on Use of Vehicles
Complete this section for vehicles used by a sole proprietor, partner, or other “more than 5% owner,” or related person.
If you provided vehicles to your employees, first answer the questions in Section C to see if you meet an exception to completing this section for those vehicles.
(a)
(b)
(c)
(d)
(e)
(f)
Total business/investment miles driven
Vehicle 1
Vehicle 2
Vehicle 3
Vehicle 4
Vehicle 5
Vehicle 6
during the year (do not include commuting
miles)
31 Total commuting miles driven during the year
32 Total other personal (noncommuting)
miles driven
33 Total miles driven during the year. Add
lines 30 through 32
Yes
No
Yes
No
Yes
No
Yes
No
Yes
No
Yes
No
34 Was the vehicle available for personal
use during off-duty hours?
35 Was the vehicle used primarily by a
more than 5% owner or related person?
36 Is another vehicle available for personal
use?
Section C—Questions for Employers Who Provide Vehicles for Use by Their Employees
Answer these questions to determine if you meet an exception to completing Section B for vehicles used by employees who are
not more than 5% owners or related persons (see instructions).
Yes
No
37 Do you maintain a written policy statement that prohibits all personal use of vehicles, including commuting,

30

38
39
40
41

by your employees?
Do you maintain a written policy statement that prohibits personal use of vehicles, except commuting, by your employees?
See the instructions for vehicles used by corporate officers, directors, or 1% or more owners
Do you treat all use of vehicles by employees as personal use?
Do you provide more than five vehicles to your employees, obtain information from your employees about
the use of the vehicles, and retain the information received?
Do you meet the requirements concerning qualified automobile demonstration use? (See instructions.)
Note: If your answer to 37, 38, 39, 40, or 41 is “Yes,” do not complete Section B for the covered vehicles.

Part VI

Amortization
(a)
Description of costs

(b)
Date amortization
begins

(c)
Amortizable
amount

42

Amortization of costs that begins during your 2008 tax year (see instructions):

43
44

Amortization of costs that began before your 2008 tax year
Total. Add amounts in column (f). See the instructions for where to report

(d)
Code
section

(e)
Amortization
period or
percentage

(f)
Amortization for
this year

43
44
Form

4562

(2008)