Form 4562 Additional Information Window

Follow the guidelines provided below to complete the fields on the Form 4562 Additional Information window.

Items in this window

Item	Notes
Override: §179 Maximum Amount	Use this field to enter the increased dollar limit for property in the New York Liberty Zone or an Enterprise Zone. The entered amount is printed on Part I, Line 1 of the Form 4562. Note: Do not use this override field for assets located in the Gulf Opportunity Zone. Instead, use the Section 179/Bonus field in Asset Detail to indicate the assets are located in the Gulf Opportunity Zone.
Override: Total Cost of §179 Property	Enter the total cost of qualifying Section 179 property placed in service in the tax year. The entered amount is printed on Part I, line 2 of the Form 4562. Note: In general, if you enter an amount in one of the two override fields above, you should enter an amount in both override fields.
Override: Threshold Cost of §179 Property	When the threshold amount differs from the federal threshold amount, enter the total cost of property allowed before the Section 179 phaseout begins. The entered amount is printed on Part I, Line 3 of the Form 4562.
§179 Deduction Limited by Taxable Income	Select this check box if the company's Section 179 expense deduction is limited by taxable income under Code Section 179(b)(3).
Aggregate Net Income Before §179 Deduction	Use this field to enter the company's taxable income before subtracting any Section 179 expense.
Carryforward of Disallowed §179 From Prior Years	Use this field to enter the amount of Section 179 expense, if any, elected to be expensed in previous years but not allowed as a deduction due to the taxable income limitation.
§168(f)(1) Amount - Units of Production	Use this field to enter the depreciation deduction for property the company has elected to depreciate by the units-of-production method or other method as allowed under Code Section 168(f)(1).
Other Depreciation	Use this field to enter the current year depreciation for assets that you do not amortize, expense, or depreciate under MACRS and that are not maintained in the application.
§263A Amount - Capitalized Inventory Cost	Use this field to enter the increase in basis from costs that you are required to capitalize under the uniform capitalization rules of Code Section 263A. For more information, see IRS Regulation 1.263A-1.