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Click ‘Get Form’ to open the IL-4562 in the editor.
Begin by entering your name and Social Security number (SSN) or federal employer identification number (FEIN) in the designated fields. Ensure accuracy as this information is crucial for your tax return.
Proceed to calculate your Illinois special depreciation addition. Fill in the amounts from your current federal Form 4562, specifically Lines 14 and 25, for property acquired after September 10, 2001. Add these values together as instructed.
Next, figure your Illinois special depreciation subtraction. Enter the relevant figures from federal Form 4562 and complete the calculations as outlined in Steps 5 through 11 of the form.
Review all entries for accuracy before finalizing. Once completed, you can easily save or print your form directly from our platform.
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Jan 17, 2011 Taxpayers were required to recompute their Illinois depreciation deduction on Form IL-4562, Special Depreciation, for each year the assetRead more
2025 Form IL-4562 Instructions - Illinois Department of Revenue
The purpose of Form IL-4562 is to reverse the effects of the 30, 40, 50, 60, 80, or 100 percent bonus depreciation allowed by Internal Revenue Code (IRC)Read more
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