Publication 535 |
2001 Tax Year |
How To Deduct Amortization
The purpose of this section is to explain how you deduct
amortization.
Form 4562.
You deduct amortization that begins during the current year by
completing Part VI of Form 4562 and attaching it to your current
year's return.
For later years, do not report your deduction for amortization on
Form 4562 unless you must file the form for another reason. You must
file Form 4562 in any of the following situations.
- You deduct amortization that begins this year.
- You claim depreciation for property placed in service this
year.
- You claim a section 179 expense deduction.
- You claim a deduction for any vehicle reported on a form
other than Schedule C (Form 1040) or Schedule C-EZ (Form
1040).
- You claim depreciation on any vehicle or other listed
property (regardless of when it was placed in service).
- You claim depreciation on a return for a corporation (other
than an S corporation).
Other forms to use.
If you do not have to file Form 4562 for years after the year
amortization begins, claim amortization directly on the "Other
expenses" line of Schedule C or F (Form 1040) or the "Other
deductions" line of Form 1065, Form 1120, Form 1120-A, or Form
1120-S. However, if you are amortizing reforestation costs, see
Where to report under Reforestation Costs,
later.
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