Depreciation and Amortization (Including Information on Listed Property) - Form 4562

Form 4562 allows you to claim a variety of deductions related to depreciation and amortization including

Depreciation of property placed in service during the tax year - the depreciation deduction allows you to recover the costs or other basis of business or investment property over a number of years.

A section 179 expense deduction, including carryover from a previous year - you can choose to expense part or all of the cost of section 179 property which you placed in service during the tax year and used mostly for business.

Depreciation on a vehicle or other listed property, which includes property used for transportation, property used for entertainment or recreational purposes, and computers or peripheral equipment.

A deduction for any vehicle reported on a form other than Schedule C or C-EZ - if you are claiming the standard mileage rate or actual vehicle expenses, aside from depreciation, you can report vehicle information on the Schedule C or C-EZ.

Depreciation on a corporate income tax return

Amortization of costs beginning in the tax year - amortization, similar to straight line depreciation, allows you an annual deduction to recover certain costs of starting a business, goodwill, and other intangibles.