IRS Form 4562 (Depreciation & Amortization) - Bonus Depreciation for 2023

Form 4562 Section 179 Deduction:    • IRS Form 4562 (Depreciation & Amortization...  
Form 4562 for Disallowed Section 179:    • IRS Form 4562 (Depreciation) Disallowed Se...  

IRS Form 4562 reports regular depreciation & amortization, Section 179 expense, and special bonus depreciation.

For this example, we look at an S corporation's Form 4562 to claim bonus deprecation on a heavy vehicle and computer equipment. The bonus depreciation amount for 2023 is limited to 80% of the cost basis of the property.

For more information on depreciation for businesses, view the Form 4562 instructions and IRS Publication 946.

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