Spent easily four hours trying to get turbotax to efile my return, but it wouldn't because I had problems with line 10 on my form 4562. Seems that you have to insert the amount from line 13 of last year's return...something to do with depreciation on the rental house...except that I never filled out a form 4562 this year or last year. Oh wait, turbotax filled one out for me last year, but line 13 had a zero, which I tried unsuccessfully to insert onto line 10 of this year's form. I say unsuccessfully because it wouldn't accept the zero.
But see, I showed em. I just deleted all references to the rental and re-entered it all. Only dropped my refund by one thousand dollars. Yes, that's right. One thousand dollars.
But I felt a certain urgency to file in hopes of receiving my refund before the government shuts down.
Skybird, if you're out there, what the heck is a form 4562?
Wednesday, April 6, 2011
Subscribe to:
Post Comments (Atom)
3 comments:
this doesn't look pretty, but Form 4562 is this (which you probably already knew)
http://www.irs.gov/pub/irs-pdf/f4562.pdf
The instructions on how to fill it out are here:
http://www.irs.gov/pub/irs-pdf/i4562.pdf
I'm not sure that I want something that has 19 pages of instructions though. If I wasn't so tired, I'd read it over right now. If you're really interested, I'll see what I can figure out tomorrow.
i'm just gonna say that you shouldn't fill out any depreciation forms. those should be handled by a tax accountant. if you do it wrong, it can be a big auditing problem.
love jr, your son who is in accounting.
Yeah, as an accountant who purposely chose not to do tax accounting; if you have rental properties, etc. it's probably worth the $150 you might spend to have a CPA take care of it for you.
Pay the experts to understand the 19 pages of legalese!
I know a good CPA if you need it.
Post a Comment