J.K. Lasser's Your Income Tax 2013: For Preparing Your 2012 Tax Return

42.2 Claiming Depreciation on Your Tax Return

If you report business or professional self-employed income, use Form 4562 for assets placed in service during 2012 and enter the total deduction on Line 13, Schedule C. For claiming depreciation on “listed property” such as cars and computers, you use Form 4562, regardless of the year placed in service. See the explanation of listed propery in this chapter (42.10). If your only depreciation deduction is for pre-2012 assets, none of which is listed property, you do not need to use Form 4562; figure the deduction on your own worksheet, and enter it on Line 13, Schedule C.

If you are an employee claiming auto expenses, you must use Form 2106 to claim depreciation on an automobile used for business purposes.

If you claim a home office deduction, you must use Form 8829 to claim depreciation on the portion of your home used for business.

If you report rental income on Schedule E, you must use Form 4562 for claiming depreciation on buildings placed in service in 2012. For buildings placed in service before 2012, enter the depreciation deduction directly on Schedule E. If you have a rental loss on Schedule E, your deduction for depreciation and other expenses may have to be included on Form 8582 to figure net passive activity income or loss; see Chapter 10.