What is Form 4562?
Form 4562 reports depreciation, the Section 179 expense election and amortization for business assets — letting you deduct the cost of equipment, vehicles and property.
4562 is where you turn equipment purchases into deductions — regular depreciation, the Section 179 immediate expensing election, and bonus depreciation. Section 179 lets you write off qualifying purchases in full the year you buy them, up to a generous limit, which can dramatically lower a profitable year's tax.
Who files it
Businesses that placed new assets in service, want to expense equipment under Section 179, or claim bonus depreciation.
When it's due
Form 4562 is generally due With the business return. Deadlines can move for weekends and holidays, so confirm the exact date for the current year on IRS.gov.
Key lines and parts
Here's what you'll actually fill in on Form 4562:
- Part I — Section 179 expense election
- Part II — special (bonus) depreciation
- Part III — MACRS depreciation
- Part V — listed property like vehicles
How to file
List assets, choose Section 179 or regular depreciation, and carry the deduction to your business schedule.