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Old 02-03-2011, 10:09 AM
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Default Depr & Form 4562

Question. I have a computer that is a couple of years old. i started my business in 2010 and would like to depreciate this because i use it in my business. i plan on using my t/s%. Do i depr it under Part III of form 4562 or is it considered listed property and needs to be filled out under Part V of form 4562?

The other question is regarding vehicle. I'm using the standard mileage rate on my vehicle. I believe my deductable $$$ is filled out under schedule C. But do i do anything under form 4562 part V?
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Old 02-03-2011, 10:17 AM
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Default Computer

Claim the computer depreciation on Part V as listed property. Fill out Part V for your vehicle as well. Claim the standard rate amount on Schedule C. You won't be claiming any car expense on Form 4562 but you should still fill out Part V.
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