COPYRIGHTED MATERIAL 46 Family Child Care Tax Workbook and Organizer Your Depreciation Enter all the depreciable items you bought last year on the worksheet. (Use the depreciation tables in chapter 3 to fill in the Table % column in the depreciation worksheet.) Enter your depreciation deductions on Form 4562. For depreciable items that you bought before last year and after you went into business, fill out copies of this page. Enter depreciation for each year on Form 4562. Enter the first year of depreciation as described in chapter 3. After the first year, enter depreciation (except home and home/land improvements) on Form 4562, line 17. Your Home Depreciation (including home and land improvements) Purchase price of your home ___________ Value of land (at time of purchase) – ___________ Value of any improvements to your home or land that you completed before your business began (see below) + ___________ (A) Your home’s adjusted value Enter your home’s adjusted value on Form 8829, line 36 = ___________ Improvements Completed before Your Business Began Description of Project _________________ _________________ _________________ _________________ _________________ _________________ Month/Year Completed Cost of Project ______________ __________ ______________ + __________ ______________ + __________ ______________ + __________ ______________ + __________ ______________ + __________ Total cost of all projects If You Use the Inventory-Keeper Use the numbers from page 53. COPYRIGHTED MATERIAL = __________ (A)