JamesG1
Expert Alumni

Get your taxes done using TurboTax

What entry do you want to override on IRS form 4562 line 12?  Please advise.

 

Is there an amount on line 9 or line 10 of the IRS form 4562?

 

Or are you limited by the amount on line 5 of the IRS form 4562?

 

You may be limited by the amount on line 11 of the IRS form 4562.

 

The total cost you can deduct on line 12 may be limited to your taxable income from the active conduct of a trade or business during the year.

 

 

 

 

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