4562 breakdown for journal entry

[dragonflytax]

We filed form 4562 for multiple items. Each year we do a journal entry for that tax year to record the depreciation on that asset. I can not find that information in turbo tax for the 2022 itemized deduction. We use file a schedule C and use turbotax online.

[VolvoGirl]

What version did you use?  Online Premier or Self Employed version or the Desktop program?  For 2022 Online  you needed to use the Self Employed version or any Desktop program.  Do you have Form 4562 but need each item?  

The actual Form 4562 that is filed with your return is just a Summary of the Depreciation for the current year and only lists out the new assets and not the prior the items. You may have a 4562 Depreciation and Amortization Report which does list all the items including fully depreciated items.

If you don't have the 4562 Depreciation and Amortization Report or need more info you need the Asset Life History. The history is only available in the Desktop program not the Online version. If you are using the Online version you would have to download your .tax2022 file and open it in the desktop program.

[Mike9241]

in any year in which there are no asset additions, the IRS does not require filing form 4562. Turbotax follows this guideline.