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help70
Level 2
Apr 2, 2024 9:56 PM UTC
Question

Form 4562 Line 12 Error

Line 11 shows 0 and it should have the business income in it.  How do I input Line 11?

    2 replies

    JamesG1
    Alumni - Intuit
    Apr 4, 2024 9:32 PM UTC

    On IRS form 4562 Depreciation and Amortization, line 11 is reporting $0.

     

    The total cost you can deduct is limited to your taxable income from the active conduct of a trade or business during the year.  Are you reporting the activity as a passive investor?

     

     

    **Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"
    help70Author
    Level 2
    Apr 6, 2024 10:03 PM UTC

    Thank you.  I was reporting as active not passive.

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