Missing 4562

[ChristyW3]

For 2022 taxes, Turbotax has apparently stopped creating the SUMMARY 4562 as it is not required for submission to IRS.  However, that summary is vital to filling out the 1065 pages 4-5 balance sheet for total assets and total depreciation.  Out of desperation, I created a spreadsheet to add up many pages of assets.  This should not be necessary since that form exists.  Why isn't it provided in the forms that are populated???? Is there any way to import it in somehow?

[ThomasM125]

There is a Depreciation and Amortization Report available in the TurboTax Business product. It lists the assets in your program, their cost, date in service, depreciaton method, prior depreciation and current depreciation. I think that would give you the information you mention. You can find it in the Forms menu near the Asset Entry Wks. It is called Depr Report.

[Mike9241]

I don't use Turbotax Business but i have used Intuits professional products. why isn't that part of the balance sheet populated from the depreciation detail like in the pro software? 

[ChristyW3]

Yes, I am aware of this form and have used it happily for many years.   BUT for 2022 this form does NOT show up in my forms list any more.  There are individual depreciation reports for each asset, but the summary no longer shows up.  Any ideas?

[DaveF1006]

Form 4562 will only print with the filing copy when required by the IRS. According to IRS instructions, the 4562 should only be filed when the following conditions are met:

• Depreciation for property placed in service during the 2022 tax year.
• A section 179 expense deduction (which may include a carryover from a previous year).
• Depreciation on any vehicle or other listed property (regardless of when it was placed in service).
• A deduction for any vehicle reported on a form other than Schedule C (Form 1040), Profit or Loss From Business.
• Any depreciation on a corporate income tax return (other than Form 1120-S).
• Amortization of costs that begins during the 2022 tax year.

@ChristyW3

[77rabtz]

I have listed assets being depreciated with my Schedule F filing but form 4562 did not print. I believe it is required by IRS.

[CarissaM]

It would be best to give us a call here, so we can better assist you. @77rabtz