Section 179 and bonus depreciation for every asset
Elect §179 per asset, apply the right bonus percentage by acquisition date, and see the limit, phase-out and taxable-income check before you fill in Form 4562.
Order of the deductions
- Business-use % reduces the basis.
- §179 elected comes off first (Part I of Form 4562).
- Bonus (special) depreciation applies to what's left (line 14).
- MACRS applies to the rest (lines 17 and 19).
Limits
§179 limit: $2,500,000 for 2025 with the phase-out starting at $4,000,000; $2,560,000 and $4,090,000 for 2026 (inflation-adjusted). The deduction can't exceed business taxable income; the excess carries forward. Bonus is 100% for property acquired after January 19, 2025, and 40% for 2025 property acquired earlier (Pub 946). Elect out of bonus by class by setting 0%.
What you get
- Asset register with book and tax cost, depreciation for the year, accumulated depreciation and net book value.
- Roll-forward by category: opening cost, additions, disposals, closing cost; opening accumulated depreciation, expense, disposals, closing — ready for the audit file.
- Tax depreciation (MACRS GDS) with §179, bonus, half-year, mid-quarter and mid-month conventions, and a Form 4562 helper with lines 12, 14, 16, 17, 19a–j and 22.
- Monthly book journal entries as QuickBooks Online and Xero import CSVs.
- Disposals with book gain or loss, tax gain and §1245 recapture.
- Checks: duplicate IDs, guessed classes, missing dates, §179 over the limit, listed property, mid-quarter years.
Your asset list stays on your computer
Assetroll reads your spreadsheet with JavaScript in your browser tab. Nothing is uploaded and there's no account to create. Close the tab and the data is gone. Your settings (accounts, conventions) can be saved in this browser; the assets aren't.
How it works
- Drop your asset list (CSV or Excel), or try the sample, or download the template.
- Pick the tax year and your book convention, capitalization threshold and accounts.
- Fix what it flags, then print the summary, roll-forward and Form 4562 helper. With Pro, download the register, the Excel workbook and the QuickBooks or Xero journal files.
FAQ
What does Assetroll do?
It reads your fixed-asset list and works out this year's tax depreciation (MACRS GDS with §179 and bonus), straight-line book depreciation, a roll-forward by category, the Form 4562 line figures, disposal gains, and monthly depreciation journal entries.
Is my data uploaded?
No. Your file is read by JavaScript in your browser tab and never sent to us or anyone else. Assets aren't stored, so closing the tab clears them. Your settings (year, conventions, account names) can be saved in this browser.
Which files can I use?
CSV, tab-separated or Excel with one row per asset. Description, placed-in-service date and cost are required. Asset ID, category, MACRS class, §179, bonus %, business use %, disposal date and proceeds, book life and salvage are optional. Download the template to see the layout.
What's free?
Importing and checking any number of assets, the year's totals (book, tax, §179, bonus, MACRS), the roll-forward totals, the Form 4562 line 22 total and every check, plus full rows for the first 10 assets. Pro shows and exports everything: the full register, roll-forward by category, the Form 4562 detail, the Excel workbook and the QuickBooks and Xero journal files.
What isn't covered?
State depreciation adjustments, AMT, ADS, the §280F luxury-auto caps, amortization of intangibles and like-kind exchanges. Listed property and vehicles are flagged so you can apply those rules. It doesn't file anything.
Is this tax advice?
No. Assetroll does the arithmetic from IRS Publication 946 and the Form 4562 instructions on the data you provide. Check the figures, and ask your tax adviser about elections. It isn't affiliated with the IRS, Intuit or Xero.