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User 3566546
Returning Member

Depreciation form (4562) is missing from my 2020 tax return. I sold the rental property in 2020. The assets were carried over from 2019 correctly, but 4562 is missing.

I am aware of the help page to fix Sch E / 4562: https://ttlc.intuit.com/community/asset-depreciation/help/how-do-i-fix-my-rental-properties-and-roya...

However, that page does not solve my problem. In my case, all the assets were carried over from 2019 correctly. If anything, I answered yes to the question "Did you sell this asset in 2020" while walking through the assets. But the assets are still correctly present after I finish everything.

Now I am at the final step before filing my taxes. Sch E is present in the tax forms, along with the correct depreciation amount. The tax forms also correctly shows the investment gains from selling my property. However, form 4562 is no where to be found.
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3 Replies
Carl
Level 15

Depreciation form (4562) is missing from my 2020 tax return. I sold the rental property in 2020. The assets were carried over from 2019 correctly, but 4562 is missing.

What matters for reporting the sale, is the 4797 and the SCH D. Not the 4562. But I can assure you that while it may not be included in the actual filed forms, it is there. To see it, you have to save your tax return in PDF format to your computer, and elect to save everything. Not just the forms "for your records", or the forms required for filing. Save everything. The 4562's will be in that PDF file.

If the 4562 is required to be filed with the IRS, only the one that prints in portrait format gets filed. Not the two that print in landscape format.

 

User 3566546
Returning Member

Depreciation form (4562) is missing from my 2020 tax return. I sold the rental property in 2020. The assets were carried over from 2019 correctly, but 4562 is missing.

Thank you for responding.  You are right that the 4562 forms in landscape format can be found in the PDFs for everything. (Choose "Include government worksheets" in the Print Center).

 

I also rented the property out for a few months in 2020 before selling it. In order to report my rental income/loss, I think I need Sch E and 4562. Given that said, I checked my 2019 return and 4562 forms in landscape format were not included either. I guess I am ready to file then. Thank you again!

Depreciation form (4562) is missing from my 2020 tax return. I sold the rental property in 2020. The assets were carried over from 2019 correctly, but 4562 is missing.

The actual 4562 (not the landscape oriented worksheets) is only needed if there is a new item that was "placed in service" during the current year, or if you have "Listed Property" that is being depreciated.  If neither of those apply, your tax return would not have a Form 4562.

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