Schedule C - Entering Depreciation in Program

The following steps will enable you to enter or review business-related depreciation information to populate IRS Form 4562 Depreciation and Amortization (Including Information on Listed Property) for Federal Schedule C (Form 1040) Profit or Loss From Business, in the TaxAct® program.

To enter or review business-related depreciation information (if you need help accessing Schedule C, go to our Schedule C - Entering Sole Proprietorship in Program FAQ):

  1. From within your Schedule C, continue with the interview process until you reach the screen titled Great! Let's get started on expenses for [business], then click Enter expenses.
  2. On the screen titled Here is the cash expense summary for [business], click Depreciation.
  3. On the screen titled Business Income - Depreciation, click Yes.
  4. Continue with the interview process to enter your information.

Note that any link in the information above is updated each year automatically and will take you to the most recent version of the webpage or document at the time it is accessed.