Discussion:Depreciation for S Corp

Who Must File
Except as otherwise noted, complete and file Form 4562 if you are claiming any of the following.

• Depreciation for property placed in service during the 2013 tax year.
  
• A section 179 expense deduction (which may include a carryover from a previous year).
  
• Depreciation on any vehicle or other listed property (regardless of when it was placed in service).
  
• A deduction for any vehicle reported on a form other than Schedule C (Form 1040), Profit or Loss From Business, or Schedule C-EZ (Form 1040), Net Profit From Business.
  
• Any depreciation on a corporate income tax return (other than Form 1120S).
  
• Amortization of costs that begins during the 2013 tax year.

Judge for yourself how the IRS expects us to interpret what they've written here. Yeah, maybe it's a trick question, or maybe a trick *answer*. The IRS instructions don't say not to file Form 4562 if none of these apply [applies?] and they don't say file *only if* one or more of these apply.

"Use other door, but only if you want to enter the building."

YOu should probably include the energy credit form. Household employees. Foreign tax credits. Etc.

What form do you show the current year expense for previous years assets on?

I am well aware the IRS does not ask for form 4562 if there are no additions in a given year. Am tired of issues surrounding incomplete/non-existent depreciation schedules when clients need these as a part of their tax records. As a profession, we should change our ways. It has to be numero uno in issues with clients moving to new preparers.