1040-US: Printing Form 4562

Alerts and notices

Question

I have entered data in Screen 4562, but the form is not printing. Why?

Answer

UltraTax CS only prints Form 4562 if it meets the criteria for filing discussed in the instructions to the form. You must file this form if the taxpayer is claiming any of the following:

  • Depreciation for property placed in service in the current tax year
  • A section 179 expense deduction, which may include a carryover from a prior year
  • Depreciation on a vehicle or other listed property
  • Amortization of costs which began in the current tax year
  • A deduction for any vehicle reported on a form other than Schedule C, Schedule C-EZ, or Form 2106

UltraTax CS prints the form if any of the first four situations are true. Please note that UltraTax CS still prints the Form 4562 if you have only entered a depreciation deduction for a vehicle reported on Schedule C. If you do not want Form 4562 to print in this situation, enter depreciation, vehicle rental, and vehicle expenses in Screen C, and enter the applicable mileage information on the associated Screen Auto. In addition, the form will also print if you make any entry for property subject to the section 168(f)(1) election.

If you want to print Form 4562 every time amounts are included on the form, choose Setup > 1040 Individual, click the Tax Return button, select Form 4562 in the list, and click the Always If Data option.

Related topic: Form 4562 - Depreciation and amortization FAQs (1040)