Premium Essay

Tax Acc

In: Business and Management

Submitted By lana2014
Words 1310
Pages 6
Form

4562

Depreciation and Amortization
(Including Information on Listed Property)
▶ See

OMB No. 1545-0172

Department of the Treasury Internal Revenue Service (99)

separate instructions.

▶ Attach

to your tax return.

Attachment Sequence No. 179 Identifying number

2013

Name(s) shown on return

Business or activity to which this form relates

Thom Jones

Part I
1 2 3 4 5 6

Election To Expense Certain Property Under Section 179 Note: If you have any listed property, complete Part V before you complete Part I.
. . . . . . . . . . . . married . . . . . . . . . . . filing . . 1 2 3 4 5
500,000 540,000 2,000,000 0

Maximum amount (see instructions) . . . . . . . . . . . . . . . . . . Total cost of section 179 property placed in service (see instructions) . . . . . . Threshold cost of section 179 property before reduction in limitation (see instructions) . Reduction in limitation. Subtract line 3 from line 2. If zero or less, enter -0- . . . . . Dollar limitation for tax year. Subtract line 4 from line 1. If zero or less, enter -0-. If separately, see instructions . . . . . . . . . . . . . . . . . . . .
(a) Description of property (b) Cost (business use only)

500,000

(c) Elected cost

Equipment, Computers Furniture

60000 480000

7 Listed property. Enter the amount from line 29 . . . . . . . . . 7 8 Total elected cost of section 179 property. Add amounts in column (c), lines 6 and 7 . . . . . . 9 Tentative deduction. Enter the smaller of line 5 or line 8 . . . . . . . . . . . . . . . . 10 Carryover of disallowed deduction from line 13 of your 2012 Form 4562 . . . . . . . . . . . 11 Business income limitation. Enter the smaller of business income (not less than zero) or line 5 (see instructions) 12 Section 179 expense deduction. Add lines 9 and 10, but do not enter more than line 11 . . . . . 13 13 Carryover of...

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