ThomasM125
Expert Alumni

Deductions & credits

The deduction for the section 179 intangibles is called amortization expense, not depreciation. As such, it shows up on form 4562 (Depreciation) in part VI, line 44.

 

Since it is not depreciation, it will be reported as an Other Expense item on your business income tax return, not as a component of depreciation. I'm not sure what business return you are preparing, but on the balance sheet you should see an entry for Accumulated Amortization, which is a contra entry to your Intangible Assets, which should appear in the assets section of your balance sheet.

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