Asked by J
Jeremy opened a machine shop in 2024. He placed the following assets in service on June 7, 2024:
Milling machine
Drill press
Desk
File cabinet
The assets are all used 100% for business and he will depreciate the assets using MACRS depreciation. Jeremy is not claiming the Section 179 deduction, the special depreciation allowance, or the de minimis election. Where on the Form 4562, Depreciation and Amortization (Including Information on Listed Property), should the assets be reported?
Part III, Section B.
Part V, Section A.
Part V, Section B.
Part VI.
All Answers 1
Answered by
GPT-5 mini
AI
Part III, Section B.
These are regular MACRS tangible property (machinery and office furniture) placed in service in 2024, not listed property, and you are not taking Section 179, bonus depreciation, or the de minimis election, so they are reported on Form 4562 under the MACRS section (Part III).
These are regular MACRS tangible property (machinery and office furniture) placed in service in 2024, not listed property, and you are not taking Section 179, bonus depreciation, or the de minimis election, so they are reported on Form 4562 under the MACRS section (Part III).
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