New (tax) year, new help!

Fixed Assets and UltraTax CS 2023 help is now on Help and Support. We're still moving articles, but you can find most content for the 2023 tax year there. Continue using the Help & How-To Center for tax years 2022 and older.

Question

Why is Form 4562 not printing even though data is entered in Screen 4562?

Answer

UltraTax CS only prints Form 4562 if the form 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, regardless of when it was placed in service
• A deduction for any vehicle reported on a form other than Schedule C (Form 1040)
• Any depreciation on a corporate income tax return (other than Form 1120-S)
• Amortization of costs which began in the current tax year

If you want to print Form 4562 every time amounts are included on the form, choose Setup > 1120 Corporation > Federal tab > Tax Return, select Form 4562 in the list, and click the Always if data option in the Print conditions group box.

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