×
tax forms found in
Tax Form Code
Tax Form Name

Illinois Free Printable 2023 Form IL-4562, Special Depreciation for 2024 Illinois Special Depreciation

There are only 19 days left until tax day on April 16th! eFile your return online here , or request a six-month extension here .

It appears you don't have a PDF plugin for this browser. Please use the link below to download 2023-illinois-form-il-4562.pdf, and you can print it directly from your computer.

Special Depreciation
2023 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. Illinois Department of Revenue *62212231W* 2023 IL-4562 Year ending Special Depreciation _____ _____ Month For tax years ending on or after December 31, 2023. Attach to your Form IL-1120, IL-1120-ST, IL-1065, IL-1041, or IL-1040. 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 Enter the total amount claimed as a special depreciation allowance on your current federal Form 4562, Depreciation and Amortization, Lines 14 and 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 3 Last year of regular depreciation: Enter the total amount of all Illinois depreciation subtractions claimed on this year and any prior year Forms IL-4562, Step 3, for each property. See instructions. 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. 4 2 Step 3: Figure your Illinois special depreciation subtraction For Lines 7, 11, 12, and 14 - Enter the portion of depreciation allowance claimed on federal Form 4562 for property for which you claimed bonus depreciation equal to the listed percent of your basis in the property. Individuals - Enter the portion of depreciation allowance claimed for bonus depreciation equal to the listed percent of your basis in the property. 5 a RESERVED 5 a RESERVED b c 6 7 a b c 8 9 a b c 10 11 a b c 12 a b c 13 14 a b c 15 16 17 18 19 RESERVED 5 b RESERVED 5 c RESERVED 6 RESERVED 7 a 7 b 7 c 8 9 a RESERVED 9 b RESERVED 9 c RESERVED 10 RESERVED 11 a 11 b 11 c 12 a 12 b 12 c 13 14 a 14 b 14c 15 RESERVED RESERVED Bonus depreciation equal to 30 percent Individuals only: Bonus depreciation equal to 30 percent Add Lines 7a and 7b. Multiply Line 7c by 42.9 percent (0.429). RESERVED RESERVED RESERVED RESERVED Bonus depreciation equal to 50 percent Individuals only: Bonus depreciation equal to 50 percent Add Lines 11a and 11b. Bonus depreciation equal to 60 percent Individuals only: Bonus depreciation equal to 60 percent Add Lines 12a and 12b. Multiply Line 12c by one and one-half (1.5). Bonus depreciation equal to 80 percent Individuals only: Bonus depreciation equal to 80 percent Add Lines 14a and 14b. Multiply Line 14c by four (4). Enter the amount of federal depreciation you would have claimed if you elected not to claim bonus depreciation on your federal return. See instructions. 16 Add Lines 8, 11c, 13, 15, and 16. 17 Last year of regular depreciation: Enter the Illinois special depreciation addition reported on any prior year Form IL-4562, Step 2, Line 1 plus Line 2, for each property. See instructions. 18 Add Lines 17 and 18. 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. 19 IL-4562 (R-12/23) 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. Reset Print Printed by the authority of the state of Illinois - electronic only - one copy.
Extracted from PDF file 2023-illinois-form-il-4562.pdf, last modified July 2023

More about the Illinois Form IL-4562 Individual Income Tax TY 2023

We last updated the Special Depreciation in January 2024, so this is the latest version of Form IL-4562, fully updated for tax year 2023. 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.


eFile your Illinois tax return now

eFiling is easier, faster, and safer than filling out paper tax forms. File your Illinois and Federal tax returns online with TurboTax in minutes. FREE for simple returns, with discounts available for TaxFormFinder users!

File Now with TurboTax

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
Form IL-1040-PTR ​Property Tax Rebate Form
Form IL-1040 Individual Income Tax Return
Schedule ICR Illinois Tax Credits
Form IL-1040-V Payment Voucher for Individual Income Tax
Form Schedule IL-WIT Illinois Income Tax Withheld

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 January 2024.

Show Sources >

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 thirteen 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:


2023 Form IL-4562

2023 Form IL-4562, Special Depreciation

2022 Form IL-4562

2022 Form IL-4562, Special Depreciation

2021 Form IL-4562

2021 Form IL-4562, Special Depreciation

2020 Form IL-4562

2016 Form IL-4562, Special Depreciation

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

4562.ind.indd


TaxFormFinder Disclaimer:

While we do our best to keep our list of Illinois Income Tax Forms up to date and complete, we cannot be held liable for errors or omissions. Is the form on this page out-of-date or not working? Please let us know and we will fix it ASAP.

** This Document Provided By TaxFormFinder.org **
Source: http://www.taxformfinder.org/index.php/illinois/form-il-4562