| Pub. 225, Farmer's Tax Guide |
2004 Tax Year |
This is archived information that pertains only to the 2004 Tax Year. If you
are looking for information for the current tax year, go to the Tax Prep Help Area.
Form 4562, Depreciation and Amortization 2004, Page 2. Summary: This is an example of Form 4562, Page 2 with these line items filled out:
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Under
“Part V: Listed Property--Section A--Depreciation and Other Information”:
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“24a. Do you have evidence to support the business/investment use claimed?” Yes checkbox checked
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“24b. If Yes, is the evidence written?” Yes checkbox checked
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“26. Property used more than 50% in a qualified business use (see page 8 of the instructions):”
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“(a) Type of property (list vehicles first)” field contains CAR, PICKUP TRUCK, and PICKUP TRUCK
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“(b) Date placed in service” field contains 1-6-01, 5-18-01, and 6-22-95
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“(c) Business/Investment use percentage” field contains 60%, 100%, and 100%
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“(d) Cost or other basis” field contains 12,350 and 7,076
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“(e) Basis for depreciation (business/investment use only)” field contains 7,410 and 7,076
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“(f) Recovery period” field contains 5 and 5
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“(g) Method/Convention” field contains 150DB/HY and 150DB/HY
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“(h) Depreciation deduction” field contains 1,065 (Footnote: Limited deduction for passenger automobile) and 1,179
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“(i) Elected section 179 cost” field contains 0 and 0
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“28. Add amounts in column (h), lines 25 through 27. Enter here and on line 21, page 1” field contains 2,244
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“29. Add amounts in column (i), line 26. Enter here and on line 7, page 1” field contains 0
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Under
“Section B--Information on Use of Vehicles”:
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“30. Total business/investment miles driven during the year (do not include commuting miles--see page 2 of the instructions)”
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“(a) Vehicle 1” field contains 6,270
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“(b) Vehicle 2” field contains 11,350
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“(c) Vehicle 3” field contains 2,350
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“31. Total commuting miles driven during the year”
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“(a) Vehicle 1” field contains 0
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“(b) Vehicle 2” field contains 0
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“(c) Vehicle 3” field contains 0
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“32. Total other personal (noncommuting) miles driven”
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“(a) Vehicle 1” field contains 4,180
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“(b) Vehicle 2” field contains 0
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“(c) Vehicle 3” field contains 0
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“33. Total miles driven during the year. Add lines 30 through 32”
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“(a) Vehicle 1” field contains 10,450
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“(b) Vehicle 2” field contains 11,350
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“(c) Vehicle 3” field contains 2,350
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“34. Was the vehicle available for personal use during off-duty hours?” Yes checkbox checked for Vehicle 1, Vehicle 2 and Vehicle
3
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“35. Was the vehicle used primarily by a more than 5% owner or related person?” Yes checkbox checked for Vehicle 1, Vehicle 2 and
Vehicle 3
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“36. Is another vehicle available for personal use?” Yes checkbox checked for Vehicle 1, Vehicle 2 and Vehicle
3
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