why can't I find form 4562 in Tax Schedule or Tax Reporting?

ALSW

I am setting up car depreciation for the car I use in my business.

I cannot find form 4562 in Tax Schedule either in account details or Tax Reporting for category.

It is a basic part of preparing for my taxes every year. I am sure I am not the only one looking for the solution.

If I omitted a feature that will help me assign Depreciation account (contra asset) or Depreciation Expense (category) to form 4562, please let me know.

Looking forward to your suggestions.

NotACPA

You're expecting too much of a personal finance manager. That's a form that's available in TTAX, and I would assume other tax prep software.

SO, just create whatever categories you need in Q.

NotACPA

Looking over Form 4562, in TTAX, it seems that those results end up as Sched A, Miscellaneous. SO, just pick one of those tax lines as appropriate.

ALSW

thank you NotACPA 

I am using Business and Personal version. It includes schedule C to report business income and expenses.

It will be very helpful to be able to assign this form to the category "Depreciation" for business purposes. I calculate MACRS depreciation with depreciation calculator online and would like to record it into this category. I tried to assign it to Sched. C in Tax Reporting but there is no "Depreciation" line in there.

Depreciation is on IRS schedule C form (line13).

It will make it so much easier to have an option to include it in the reports when I prepare for taxes. And I'm sure other business owners would be happy to have this option.

Chris_QPW

The basic problem is that none of the tax forms have been updated in decades. It just isn't something that the Quicken developers have maintained.

CaliQkn

To add to @Chris_QPW, Intuit used to own both Quicken and TurboTax but sold Quicken in 2016 and I'll bet that the Tax definitions haven't really been updated since then.