Form 4562 Depreciation and Amortization 2020

Form 4562 Depreciation and Amortization 2020

Summary: This is an example of Form 4562 (2020) as pertains to the text. The line items completed are as follows:

"Name(s) shown on return" field contains John R. (Deceased) & Mary L. Smith
"Identifying number" field contains 234-00-7890
Under"Part III: M.A.C.R.S. Depreciation"
"17. M.A.C.R.S. deductions for assets placed in service in tax years beginning before 2015" field contains 1,211
Under"Section C--Assets Placed in Service During 2015 Tax Year Using the Alternative Depreciation System":
"20c(b) Month and year placed in service" field contains 4-15
"20c(c) Basis for depreciation (business/investment use only--see instructions)" field contains 50,000
"20c(g) Depreciation deduction" field contains 886
Under"Part IV: Summary":
"22. Total. Add amounts from line 12, lines 14 through 17, lines 19 and 20 in column (g), and line 21. Enter here and on the appropriate lines of your return. Partnerships and S corporations--see instructions." field contains 2,097