Summary
Form 4562 showing an incorrect year in Sage Fixed Assets Depreciation.
Cause
- Sage Fixed Assets doesn’t have the latest update
- Sage Fixed Assets annually updates its software to include the new Form 4562. ".1" releases contain the finalized forms. Early versions of the form in ".0" releases starting with version 2024.0, to accommodate potential tax law changes
Resolution
Note: If you are on version 2024.1 and using the Premier edition, see The 4562 shows 2022 on a 52/53 week accounting cycle.
In January or February of every year, Sage Fixed Assets is updated with the new Form 4562. Updated 4562 forms always appear in releases ending in ".1".
Starting with version 2024.0, the ".0" version of the program includes an Early Version of Form 4562. This isn’t the finalized form. Updates to the tax form can occur if the tax law changes. ".1" releases will include any updates to the form.
For example:
- Version 2024.1 has the tax form for 2022 and an early version tax for 2023
- Version 2025.1 has the tax form for 2023 and an early version tax for 2024
- Version 2026.1 has the tax form for 2024 and an early version tax for 2025
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