@tuxedorose wrote:
is this an optional attachment? because without it, how would the IRS track your accumulated depreciation?
The attachment is definitely optional and even Form 4562 does not have to be filed (for the 2019 tax year) unless you are claiming any of the following:
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Depreciation for property placed in service during the 2019 tax year.
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A section 179 expense deduction (which may include a carryover from a previous year).
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Depreciation on any vehicle or other listed property (regardless of when it was placed in service).
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A deduction for any vehicle reported on a form other than Schedule C (Form 1040 or 1040-SR), Profit or Loss From Business.
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Any depreciation on a corporate income tax return (other than Form 1120-S).
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Amortization of costs that begins during the 2019 tax year.
See https://www.irs.gov/instructions/i4562#idm139765158376400
The IRS does not necessarily keep track of accumulated depreciation; the system of federal income taxation is predicated upon self-reporting. If you happen to be audited with respect to your accumulated depreciation, you will need some sort of proof of the deductions you have taken previously.
Otherwise, IRS regulations state that you must reduce your cost or other basis of your property by the greater of the amount allowed as deductions in computing taxable income or the amount allowable for the years involved.
See Treas. Reg. §1.1016-3(a)(1)
