4562 and efile - a different question

[jklcpa]

I'm ready to efile my S corp return. My assets are fully depreciated, and no activity this year that requires the 4562 to be filed. I'd like to leave the assets on for future in case of dispositions, trades.

Should I e-file with the 4562 included? if I delete the 4562, all the assets entered disappear too. Should I create a duplicate return and delete the 4562 there and e-file that? At least that way I could preserve my assets entered & use this file for next year's rollover.

What do others of you do in this circumstance?

[kcjenkins]

The 4562 can now be efiled.

[jklcpa]

Yes, I know it's approved. But what I was asking is: would you leave it in & file with the 4562 when it's not needed for the return?

[Booger]

jklcpa, I would go ahead and include it even if its not required. That way,

you can keep a record of the assets that you mentioned. Just because the

4562 isn't required, doesn't mean you CAN'T include it.

[kcjenkins]

Yes, I'd leave it in, since the assets are still in use. The 4562 will not actually be included in what the IRS looks at, since there is no new asset this year. They don't actually look at the 4562 even when assets are still being depreciated, as long as there are no new assets. But you need them in the file as long as they have not been sold or scrapped or abandoned, for feeding to the 4797 if sold.