If you downloaded the 2021, 2022, or 2023 Instructions for Form 4562, Depreciation and Amortization, please be advised that the instructions should advise filers to enter the carryover of any disallowed deduction from the 2020, 2021, and 2022 tax year, respectively, on line 13. We are updating the first paragraph of the instructions for line 5 in the 2024 Instructions for Form 4562 to read as follows: If line 5 is zero, you cannot elect to expense any section 179 property. In this case, skip lines 6 through 11, enter zero on line 12, and enter the carryover of any disallowed deduction from the prior year (which does not include amounts attributable to qualified section 179 real property) on line 13.
