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 on property placed in service this year.
• You claim a section 179 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, 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.

Bond premium amortization. Do not use Form 4562 to report bond premium amortization. How you report this amortization depends on when you got the bond. For information on how to report bond premium amortization, see Publication 550.

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