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Illinois Free Printable 2016 Form IL-4562, Special Depreciation for 2020 Illinois Special Depreciation

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Special Depreciation
2016 Form IL-4562, Special Depreciation

Use your mouse or Tab key to move through the fields. Use your mouse or space bar to enable check boxes. *62212191W* Illinois Department of Revenue 2019 IL-4562 Special Depreciation For tax years ending on or after December 31, 2019. Attach to your Form IL-1120, IL-1120-ST, IL-1065, IL-1041, or IL-1040. Year ending Month Year IL Attachment No. 11 Step 1: Provide the following information Enter your name as shown on your return. Enter your Social Security number (SSN) or federal employer identification number (FEIN). You must read the instructions before completing Form IL-4562. Do not use negative figures. Step 2: Figure your Illinois special depreciation addition 1 2 Enter the total amount claimed as a special depreciation allowance on federal Form 4562, Depreciation and Amortization, Line 14 or Line 25, for property acquired after September 10, 2001. 1 Individuals only: Enter the total amount claimed as a special depreciation allowance from federal Form 2106, Employee Business Expenses. 2 Last year of regular depreciation: Enter the total amount of all Illinois depreciation subtractions claimed on prior year IL-4562 forms, Step 3, Line 8, for each property. 3 4 Add Lines 1 through 3. This is your Illinois special depreciation addition. Enter the total here and see instructions for the list of Illinois form and line references to report this addition. 3 4 Step 3: Figure your Illinois special depreciation subtraction 5 a Enter the portion of depreciation allowance claimed on federal Form 4562, Line 17, plus Line 19, Column g, plus Line 26, Column h, for property for which you claimed a special depreciation allowance on federal Form 4562, Line 14 or 25, for this tax year, or any other tax year ending after September 10, 2001, for bonus depreciation equal to 30 percent of your basis in the property. 5 a b Individuals only: If you completed a federal Form 2106 for this tax year, enter the portion of any depreciation deductions included in Lines 4 and 38 for this tax year or any prior tax year for bonus depreciation equal to 30 percent of your basis in the property. c Add Lines 5a and 5b. 5 c 6 Multiply Line 5c by 42.9% (0.429). 7 a Enter the portion of depreciation allowance claimed on federal Form 4562, Line 17, plus 5 b 6 Line 19, Column g, plus Line 26, Column h, for property for which you claimed a special depreciation allowance on federal Form 4562, Line 14 or 25, for this tax year, or any other tax year ending after September 10, 2001, for bonus depreciation equal to 50 percent of your basis in the property. 7 a b Individuals only: If you completed a federal Form 2106 for this tax year, enter the portion of any depreciation deductions included in Lines 4 and 38 for this tax year or any prior tax year for bonus depreciation equal to 50 percent of your basis in the property. 7 b c Add Lines 7a and 7b. 7 c 8 Add Lines 6 and 7c. 9 Last year of regular depreciation: Enter the Illinois special depreciation addition reported 8 9 on any prior year Form IL-4562, Step 2, Line 1 plus Line 2, for each property. See instructions. 10 Add Lines 8 and 9. This is your Illinois depreciation subtraction for this year. Enter the total here and see instructions for the list of Illinois form and line references to report this subtraction. 1 0 Attach this form to your Illinois return. This form is authorized as outlined by the Illinois Income Tax Act. Disclosure of this information is REQUIRED. Failure to provide information could result in a penalty. IL-4562 (R-12/19) Printed by the authority of the State of Illinois - web only, 1 copy Reset Print
Extracted from PDF file 2019-illinois-form-il-4562.pdf, last modified July 2019

More about the Illinois Form IL-4562 Individual Income Tax TY 2019

We last updated the Special Depreciation in March 2020, so this is the latest version of Form IL-4562, fully updated for tax year 2019. You can download or print current or past-year PDFs of Form IL-4562 directly from TaxFormFinder. You can print other Illinois tax forms here.


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Other Illinois Individual Income Tax Forms:

TaxFormFinder has an additional 75 Illinois income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
Schedule ICR Illinois Tax Credits
Form IL-1040 Individual Income Tax Return
Form IL-505-B Automatic Extension Payment
Form IL-1040-V Payment Voucher for Individual Income Tax
Form IL-1040-ES Estimated Income Tax Payments for Individuals

Download all IL tax forms View all 76 Illinois Income Tax Forms


Form Sources:

Illinois usually releases forms for the current tax year between January and April. We last updated Illinois Form IL-4562 from the Department of Revenue in March 2020.

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About the Individual Income Tax

The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.

Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!

Historical Past-Year Versions of Illinois Form IL-4562

We have a total of nine past-year versions of Form IL-4562 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2019 Form IL-4562

2016 Form IL-4562, Special Depreciation

2018 Form IL-4562

2016 Form IL-4562, Special Depreciation

2017 Form IL-4562

2017 Form IL-4562, Special Depreciation

2016 Form IL-4562

2016 Form IL-4562, Special Depreciation

Special Depreciation 2015 Form IL-4562

IL-4562 Special Depreciation (2015)

IL-4562 Special Depreciation 2014 Form IL-4562

2014 IL-4562 Special Depreciation

Special Depreciation 2013 Form IL-4562

IL-4562 Special Depreciation

2012 Form IL-4562

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