IRS Form 4562 is used to calculate and claim deductions for depreciation and amortization.
When you enter depreciable assets—vehicles, buildings, farm equipment, intellectual property, etc.—we'll generate Form 4562 and apply the correct depreciation method.
There is no single place in TurboTax to enter depreciable assets. Instead, when you enter your business, rental, farm, or job-related expenses, we'll ask about related assets and apply the depreciation at that point.
