Form IL-4562 Instructions - For tax years ending on or after-2026

1. Click ‘Get Form’ to open it in the editor.
2. Begin by entering your name as shown on your return and your Social Security number (SSN) or federal employer identification number (FEIN). Ensure you read the instructions carefully before proceeding.
3. In Step 2, calculate your Illinois special depreciation addition. Enter the total amount claimed as a special depreciation allowance from your current federal Form 4562 for property acquired after September 10, 2001.
4. Continue with Step 3 to figure your Illinois special depreciation subtraction. Input the portion of depreciation allowance claimed on federal Form 4562 for properties where bonus depreciation was applied.
5. Follow through each line carefully, ensuring all calculations are accurate. Use our platform's tools to easily navigate between fields and check boxes.

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