Form 4562 Line 14

DAKLOL Member Posts: 1 Newcomer

How can I populate line 14, special depreciation in the tax software?


  • RyanZ
    RyanZ FreeTaxUSA Agent Posts: 70

    Hello Daklol,

    When you entered a "Depreciable Asset" in FreeTaxUSA, in connection with a source of income such as Schedule C (Business Income) Schedule E (Rental Income) or Schedule, among the questions that you will be asked is if you want to take Bonus Depreciation.

    Please be aware that not all depreciable assts qualify for claiming the bonus depreciation. If you don't receive a question in the FreeTaxUSA software regarding the Bonus Depreciation, it most likely doesn't qualify based on your responses to previous questions related to that asset.

    If you would like to discuss your asset in particular, please log in to your account and contact customer support.