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International Development Studies Saint Mary's University IDS 456.2 / IDS 542.2/ ASN 402.2 Asia: Transformation and Development Time: Monday 14:3017:00 Room: MM 208A Course Website: http://husky1.stmarys.ca/jdevlin/
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The Form 4562 is used to claim depreciation or amortization, while Form 5422 is used to report any changes to business assets.
Anyone who has business assets and is claiming depreciation or amortization must file Form 4562 and report any changes to assets on Form 5422.
Form 4562 and Form 5422 have specific instructions provided by the IRS on how to fill out the forms accurately. It is recommended to consult a tax professional for assistance.
The purpose of Form 4562 is to claim depreciation or amortization on business assets, while Form 5422 is used to report any changes to those assets.
Form 4562 requires information on the assets being depreciated or amortized, while Form 5422 requires information on any changes or dispositions of business assets.
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