Form 4562 Depreciation and Amortization 2005. Summary: This is an example of Form 4562 (2005) with items included as described in the text. Additionally, these line items
were filled
out:
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“Name(s) shown on return” field contains WALTER A. & JANE W. BROWN
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“Business or activity to which this form relates” field contains FARMING
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“Identifying number” field contains 543-00-2111
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Under
“Part I: Election To Expense Certain Tangible Property Under Section 179”:
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“1. Maximum amount. See page 2 of the instructions for a higher limit for certain businesses” field contains $105,000
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“3. Threshold cost of section 179 property before reduction in limitation” field contains $420,000
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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 105,000
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“8. Total elected cost of section 179 property. Add amounts in column (c), lines 6 and 7” field contains 105,000
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“9. Tentative deduction. Enter the smaller of line 5 or line 8” field contains 105,000
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“10. Carryover of disallowed deduction from line 13 of your 2004 Form 4562” field contains 0
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“13. Carryover of disallowed deduction to 2006. Add lines 9 and 10, less line 12” field contains 0
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Under
“Part II: Special Depreciation Allowance and Other Depreciation”:
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“14. Special depreciation allowance for qualified property (other than listed property) placed in service during the tax year
(see page 3 of
the instructions)” field contains 0
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Under
“Part III: MACRS Depreciation (Do not include listed property.) (See page 4 of the instructions.)”:
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“17. MACRS deductions for assets placed in service in tax years beginning before 2005”field contains
2,593
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Under
“Section B--Assets Placed in Service During 2004 Tax Year Using the General Depreciation System”:
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“19d. 10-year property”
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“(c) Basis for depreciation (business/investment use only--see instructions)” field contains 28,250
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“(d) Recovery period” field contains 10
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“(e) Convention” field contains HY
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“(f) Method” field contains 150DB
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“(g) Depreciation deduction” field contains 2,119
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“19f. 20-year property”
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“(c) Basis for depreciation (business/investment use only--see instructions)” field contains 650
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“(d) Recovery period” field contains 20
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“(e) Convention” field contains HY
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“(f) Method” field contains 150DB
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“(g) Depreciation deduction” field contains 24
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“Part IV Summary”:
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“21. Listed property. Enter amount from line 28”field contains 1,179
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“22. Total. Add amounts from line 12, lines 14 through 17, lines 19 and 20 in column (g), and line 21.” field contains
77,915
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