why is one of my rental properties missing 4562 forms in TurboTax, another one is there? Thank you!

[taxquestion2022]

why is one of my rental properties missing 4562 forms in TurboTax, another one is there? Thank you!

[ThomasM125]

Form 4562 is used to report depreciation on business property. If you don't have one included with your return it could mean the rental property involved has only fully depreciated property or you haven't set up any property to be depreciated. I suggest you look on the asset entry module for that property to see if there is any property listed there and see if it may have been fully depreciated. You will see the asset entry on the screen in the business section of TurboTax that says Review Your (name of rental) Rental Summary. Look for Assets/Depreciation in the list.

[taxquestion2022]

I have two properties and I did exactly same thing when I fill up part of Assets/Depreciation.  TurboTax approve my work but during I check up I found one property shows 4562 form, and the other doesn't.  The difference is the one shown 4562 form I own it more than 5 years and the one missed 4562 I just bought in 2022.  I compared the last year's return (2022) and found both of them did have 4562, but the former shown a number in line 17 and 22, latter did in line 9h and 22.   Thank you very much for your help!

[Critter-3]

A form 4562 is only populated and filed when required... which is when a new asset is added or a 179 deduction is taken.

[taxquestion2022]

Thank you very much!  you are right, the two points you mentioned should be the first thing to considerate.  I did check that the property was listed under assays/depreciation section and which I just bought two years ago and should not have been fully depreciated. It must have other reason.

[Critter-3]

Unless you added a NEW asset in 2023 the form 4562 will not be populated. The depreciation is simply put on line 18 of the Sch E directly.  

[taxquestion2022]

Thank you for everybody answered my question.

I am just curious why there are the different treatments of two properties at similar situation.  But at least I have reported everything in my return. in case IRS has a question, it will be software's issue.

Thank you very much!