For the latest information about developments related to Form 4562 and its instructions, such as legislation enacted after this form and instructions were published, go to www.irs.gov/form4562.
For tax years beginning in 2014, the maximum section 179 expense deduction is $500,000 ($535,000 for enterprise zone property). This limit is reduced by the amount by which the cost of section 179 property placed in service during the tax year exceeds $2 million. See the instructions for Part I for more information.
For tax years ending after December 31, 2013, a corporation can elect to claim pre-2006 unused minimum tax credits in lieu of the special depreciation allowance for round 4 extension property.
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