Thank you.
1. I simply opened Form 4562, read the IRS Instructions, and started filling it out.
2. I will go back and use the program that walks you through the preparation and see if that helps.
3. I completed a 1031 exchange - I am depreciating the new property for the first time - so calculating my depreciation is complicated. The historical deprecistion of the exchanged property is relevant. I don’t know if your program will help but I’ll try it.
4. The Form 4562 Instructions say to file it the year you put the depreciable property into service. Not every subsequent year you depreciate the property. I think it calls for me to put down 50% of the annual depreciation if in the first year the property is in service/depreciable for 6 months. My fear is the next year when I depreciate the property for the full year the IRS will flag it because it is twice what I put down the prior year for 6 months. But I could file another Form 4562 that year.
Thank you.
