| Pub. 946, How To Depreciate Property |
2004 Tax Year |
This is archived information that pertains only to the 2004 Tax Year. If you
are looking for information for the current tax year, go to the Tax Prep Help Area.
Form 4562 Depreciation and Amortization 2003. Summary: This is an example of Form 4562 (2003) with items included as described in the text. Additionally, these line items
are also
completed:
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“Name(s) shown on return” field contains Fields of Flowers
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“Business or activity to which this form relates” field contains Retail Florist
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“Identifying number” field contains 10-1787889
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| Under
“Part I: Election To Expense Certain Tangible Property Under Section 179”:
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“2. Total cost of section 179 property placed in service (see page 2 of the instructions)” field contains 110,145
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“4. Reduction in limitation. Subtract line 3 from line 2. If zero or less, enter 0” field contains 0
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“5. Dollar limitation for tax year. Subtract line 4 from line 1. If zero or less, enter 0. If married filing separately, see
page 2 of the
instructions” field contains 100,000
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“7. Listed property. Enter the amount from line 29” field contains 100,000
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“8. Total elected cost of section 179 property. Add amounts in column (c), lines 6 and 7” field contains 100,000
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“9. Tentative deduction. Enter the smaller of line 5 or line 8” field contains 100,000
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“10. Carryover of disallowed deduction from line 13 of your 2002 Form 4562” field contains 0
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“11. Business income limitation. Enter the smaller of business income (not less than zero) or line 5 (see instructions)” field contains
100,000
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“12. Section 179 expense deduction. Add lines 9 and 10, but do not enter more than line 11” field contains 100,000
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“13. Carryover of disallowed deduction to 2004. Add lines 9 and 10, less line 12” field contains 0
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| Under
“Part III: Modified Accelerated Cost Recovery System Depreciation: Section B--Assets Placed in Service During 2003 Tax Year
Using the General
Depreciation System”:
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“19c(c) 7-year property: Basis for depreciation (business/investment use only--see instructions)” field contains 237
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“19c(d) 7-year property: Recovery period” field contains 7 years
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| Under
“Part III: Modified Accelerated Cost Recovery System Depreciation: Section C--Assets Placed in Service During 2003 Tax Year
Using the
Alternative Depreciation System”:
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“20a(c) Class life: Basis for depreciation (business/investment use only--see instructions)” field contains
2,435
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| Under
“Part IV: Summary”:
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“21. Listed property. Enter amount from line 28” field contains
2,460
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