How To Deduct Amortization The purpose of this section is to explain how you deductamortization. Form 4562.hotel rooms MechelenYou choose to amortize your costs by completing Part VI of Form4562 in the year in which you make the choice. alberghi a LilleFor later years, do not report your deduction for amortization onForm 4562 unless you must file the form for another reason. You mustfile Form 4562 in any of the following situations. You start claiming amortization this tax year. Rabatt fur Luxus-Hotels HannoverYou claim depreciation on property placed in service thisyear. Strategie 7card pokerYou claim a section 179 deduction. You claim a deduction for any vehicle reported on a formother than Schedule C (Form 1040) or Schedule C-EZ (Form1040). You claim depreciation on any vehicle or other listedproperty (regardless of when it was placed in service). You claim depreciation on a return for a corporation (otherthan an S corporation). Other forms to use.If you do not have to file Form 4562, claim amortization directlyon the "Other expenses" line of Schedule C (Form 1040) or the"Other deductions" line of Form 1065 or Form 1120. Bond premium amortization.You do not use Form 4562 to report bond premium amortization. Howyou report this amortization depends on when you get the bond. Forinformation on how to report bond premium amortization, seePublication 550.