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Where to Go for Medical Care

In non-emergency situations, your first choice should be your primary care provider (PCP). Your PCP knows your medical history and treats common ailments. Urgent care is best when you need medical attention for a non-life threatening illness quickly or after regular hours. Go to the emergency room if your illness is serious or life-threatening, such as:

  • Choking
  • Stopped breathing
  • Head injury with passing out, fainting, or confusion
  • Injury to neck or spine, especially if there is loss of feeling or inability to move
  • Electric shock or lightning strike
  • Severe burn
  • Seizure that lasts three to five minutes

MedlinePlus has more information about the differences among health care providers and facilities.

Choosing a Health Care Facility

Report cards on the Internet can help you compare healthcare facilities. Compare doctors and health care facilities at www.healthcare.gov/compare. In addition, private organizations like U.S. News and World Report and Healthgrades.com rate hospitals based on information collected from Medicare records and other sources. As of October 2012, the Affordable Care Act requires all hospitals to report performance publically.

When determining the best health care facility for you, consider these factors:

  • Does the facility accept payment from your insurance plan?
  • Does your doctor have privileges to provide treatment to patients at the facility?
  • What is the quality of the facility?
  • Does the facility specialize in services and procedures that fit with your medical needs?
  • Is the facility in an area you can travel to and from easily? Find health care facilities in your area.

Elder Care and Health Care Facilities Seniors

As people live longer, the need for services for seniors has become more important. The Eldercare Locator (www.eldercare.gov), a public service of the Administration on Aging, U.S. Department of Health and Human Services, is a nationwide service that connects older Americans and their caregivers with information on senior services. Visit www.aoa.gov/Elders_Families for a list of resources to connect older persons, caregivers, and professionals with important federal, national, and local programs.

The Joint Commission on Accreditation of Healthcare Organizations(JCAHO) accredits hospitals as well as nursing homes and other healthcare organizations. Specially trained investigators assess whether these organizations meet set standards. At qualitycheck.org, you can check on a local facility, including how it compares with others. The Joint Commission also accepts consumer complaints. You can post a complaint online.

Naming a Durable Power of Attorney for Health Care

A durable power of attorney for health care (sometimes called a durable medical power of attorney) specifies the person you've chosen to make medical decisions for you. It is activated anytime you're unconscious or unable to make medical decisions. You need to choose someone who meets the legal requirements in your state for acting as your agent. State laws vary, but most states disqualify anyone under the age of 18, your health care provider, or employees of your health care provider.

The person you name as your agent must:

  • Be willing to speak and advocate on your behalf
  • Be willing to deal with conflict among friends and family members, if it arises
  • Know you well and understand your wishes
  • Be willing to talk with you about these issues
  • Be someone you trust with your life

The Free Amended Tax Return Online

Free amended tax return online Depreciation Table of Contents Introduction Special Depreciation AllowanceQualified Property Election Not To Claim the Allowance Rules for Returns Filed Before June 1, 2002 Passenger Automobiles New York Liberty Zone BenefitsSpecial Liberty Zone Depreciation Allowance Increased Section 179 Deduction Liberty Zone Leasehold Improvement Property If you depreciate business property that you acquired and placed in service after September 10, 2001, new law contains provisions that may affect your depreciation deduction for that property. Free amended tax return online Publication 946, How To Depreciate Property, contains information on depreciation. Free amended tax return online However, Publication 946 does not contain the new provisions because it was printed before the law was enacted. Free amended tax return online The new provisions are in the Supplement to Publication 946, which is reprinted below. Free amended tax return online Supplement to Publication 946 How To Depreciate Property   Introduction After Publication 946 was printed, the Job Creation and Worker Assistance Act of 2002 was signed into law by the President. Free amended tax return online The new law made several changes in the tax rules explained in the publication. Free amended tax return online Some of the changes apply to property placed in service during 2001. Free amended tax return online This supplemental publication describes those changes and explains what you should do if you are affected by them. Free amended tax return online The situations and examples in Publication 946 do not reflect any of the changes made by the Job Creation and Worker Assistance Act of 2002. Free amended tax return online The new law contains the following provisions. Free amended tax return online 30% depreciation deductions (special depreciation allowance and special New York Liberty Zone (Liberty Zone) depreciation allowance) for the year qualified property is placed in service after September 10, 2001. Free amended tax return online An increased dollar limit on the section 179 deduction for qualified Liberty Zone property purchased after September 10, 2001. Free amended tax return online A shorter recovery period for qualified Liberty Zone leasehold improvement property placed in service after September 10, 2001. Free amended tax return online An increase in the maximum depreciation deduction for 2001 for a qualified passenger automobile placed in service after September 10, 2001. Free amended tax return online If you believe you qualify for an increased deduction under any of these new rules, you must file the revised 2001 Form 4562 (dated March 2002) for 2001 calendar or fiscal years and 2000 fiscal years ending after September 10, 2001. Free amended tax return online If you have already filed a tax return, this supplemental publication explains how to claim these benefits and how to elect not to claim the special depreciation allowance or special Liberty Zone depreciation allowance. Free amended tax return online See Table 2 at the end of the supplement for an overview of the rules that apply if you filed your return before June 1, 2002. Free amended tax return online Special Depreciation Allowance You can take a special depreciation allowance for qualified property you place in service after September 10, 2001. Free amended tax return online The allowance is an additional deduction of 30% of the property's depreciable basis. Free amended tax return online To figure the depreciable basis, you must first multiply the property's cost or other basis by the percentage of business/investment use and then reduce that amount by any section 179 deduction and certain other deductions and credits for the property. Free amended tax return online See What Is the Basis for Depreciation? on page 23 in Publication 946 for more information on figuring depreciable basis. Free amended tax return online The allowance is deductible for both regular tax and alternative minimum tax (AMT) purposes. Free amended tax return online There is no AMT adjustment required for any depreciation figured on the remaining basis of the property. Free amended tax return online In the year you claim the allowance (generally the year you place the property in service), you must reduce the depreciable basis of the property by the allowance before figuring your regular depreciation deduction. Free amended tax return online Example 1. Free amended tax return online On November 1, 2001, you bought and placed in service in your business qualified property that cost $100,000. Free amended tax return online You did not elect to claim a section 179 deduction. Free amended tax return online You can deduct 30% of the cost ($30,000) as a special depreciation allowance for 2001. Free amended tax return online You use the remaining $70,000 of cost to figure your regular depreciation deduction for 2001 and later years. Free amended tax return online Example 2. Free amended tax return online The facts are the same as in Example 1, except that you choose to deduct $24,000 of the property's cost as a section 179 deduction. Free amended tax return online You use the remaining $76,000 of cost to figure your special depreciation allowance of $22,800 ($76,000 × 30%). Free amended tax return online You use the remaining $53,200 of cost to figure your regular depreciation deduction for 2001 and later years. Free amended tax return online Qualified Property To qualify for the special depreciation allowance, your property must meet the following requirements. Free amended tax return online It is new property of one of the following types. Free amended tax return online Property depreciated under the modified accelerated cost recovery system (MACRS) with a recovery period of 20 years or less. Free amended tax return online See Can You Use MACRS To Depreciate Your Property and Which Recovery Period Applies? on pages 7 and 23, respectively, in Publication 946. Free amended tax return online Water utility property. Free amended tax return online See 25-year property on page 22 in Publication 946. Free amended tax return online Computer software that is not a section 197 intangible as described in Computer software on page 5 in Publication 946. Free amended tax return online (The cost of some computer software is treated as part of the cost of hardware and is depreciated under MACRS. Free amended tax return online ) Qualified leasehold improvement property (defined later). Free amended tax return online It meets the following tests (explained later under Tests To Be Met). Free amended tax return online Acquisition date test. Free amended tax return online Placed in service date test. Free amended tax return online Original use test. Free amended tax return online It is not excepted property (explained later under Excepted Property). Free amended tax return online Qualified leasehold improvement property. Free amended tax return online    Generally, this is any improvement to an interior part of a building that is nonresidential real property, provided all of the following requirements are met. Free amended tax return online The improvement is made under or pursuant to a lease by the lessee (or any sublessee) or the lessor of that part of the building. Free amended tax return online That part of the building is to be occupied exclusively by the lessee (or any sublessee) of that part. Free amended tax return online The improvement is placed in service more than 3 years after the date the building was first placed in service. Free amended tax return online   However, a qualified leasehold improvement does not include any improvement for which the expenditure is attributable to any of the following. Free amended tax return online The enlargement of the building. Free amended tax return online Any elevator or escalator. Free amended tax return online Any structural component benefiting a common area. Free amended tax return online The internal structural framework of the building. Free amended tax return online   Generally, a binding commitment to enter into a lease is treated as a lease and the parties to the commitment are treated as the lessor and lessee. Free amended tax return online However, a binding commitment between related persons is not treated as a lease. Free amended tax return online Related persons. Free amended tax return online   For this purpose, the following are related persons. Free amended tax return online Members of an affiliated group. Free amended tax return online The persons listed in items (1) through (9) under Related persons on page 8 of Publication 946 (except that “80% or more” should be substituted for “more than 10%” each place it appears). Free amended tax return online An executor and a beneficiary of the same estate. Free amended tax return online Tests To Be Met To qualify for the special depreciation allowance, the property must meet all of the following tests. Free amended tax return online Acquisition date test. Free amended tax return online    Generally, you must have acquired the property either: After September 10, 2001, and before September 11, 2004, but only if no written binding contract for the acquisition was in effect before September 11, 2001, or Pursuant to a written binding contract entered into after September 10, 2001, and before September 11, 2004. Free amended tax return online   Property you manufacture, construct, or produce for your own use meets this test if you began the manufacture, construction, or production of the property after September 10, 2001, and before September 11, 2004. Free amended tax return online Placed in service date test. Free amended tax return online   Generally, the property must be placed in service for use in your trade or business or for the production of income after September 10, 2001, and before January 1, 2005. Free amended tax return online   If you sold property you placed in service after September 10, 2001, and you leased it back within 3 months after the property was originally placed in service, the property is treated as placed in service no earlier than the date it is used under the leaseback. Free amended tax return online Original use test. Free amended tax return online   The original use of the property must have begun with you after September 10, 2001. Free amended tax return online “Original use” means the first use to which the property is put, whether or not by you. Free amended tax return online Additional capital expenditures you incurred after September 10, 2001, to recondition or rebuild your property meet the original use test. Free amended tax return online Excepted Property The following property does not qualify for the special depreciation allowance. Free amended tax return online Property used by any person before September 11, 2001. Free amended tax return online Property required to be depreciated using ADS. Free amended tax return online This includes listed property used 50% or less in a qualified business use. Free amended tax return online Qualified New York Liberty Zone leasehold improvement property (defined next). Free amended tax return online Qualified New York Liberty Zone leasehold improvement property. Free amended tax return online   This is any qualified leasehold improvement property (as defined earlier) if all of the following requirements are met. Free amended tax return online The improvement is to a building located in the New York Liberty Zone (defined later under New York Liberty Zone Benefits). Free amended tax return online The improvement is placed in service after September 10, 2001, and before January 1, 2007. Free amended tax return online No written binding contract for the improvement was in effect before September 11, 2001. Free amended tax return online Election Not To Claim the Allowance You can elect not to claim the special depreciation allowance for qualified property. Free amended tax return online If you make this election for any property, it applies to all property in the same property class placed in service during the year. Free amended tax return online To make this election, attach a statement to your return indicating you elect not to claim the allowance and the class of property for which you are making the election. Free amended tax return online When to make election. Free amended tax return online   Generally, you must make the election on a timely filed tax return (including extensions) for the year in which you place the property in service. Free amended tax return online   However, if you timely filed your return for the year without making the election, you can still make the election by filing an amended return within 6 months of the due date of the original return (not including extensions). Free amended tax return online Attach the election statement to the amended return. Free amended tax return online At the top of the election statement, write “Filed pursuant to section 301. Free amended tax return online 9100–2. Free amended tax return online ” Revoking an election. Free amended tax return online   Once you elect not to deduct the special depreciation allowance for a class of property, you cannot revoke the election without IRS consent. Free amended tax return online A request to revoke the election is subject to a user fee. Free amended tax return online Rules for Returns Filed Before June 1, 2002 The following rules apply if you placed qualified property in service after September 10, 2001, and filed your return before June 1, 2002. Free amended tax return online The rules apply to returns for the following years. Free amended tax return online 2000 fiscal years that end after September 10, 2001. Free amended tax return online 2001 calendar and fiscal years. Free amended tax return online Claiming the allowance. Free amended tax return online   If you did not claim the allowance on your return and did not make the election not to claim the allowance, you can do either of the following to claim the allowance. Free amended tax return online File an amended return by the due date (not including extensions) of your return for the year following the year the property was placed in service. Free amended tax return online Write “Filed Pursuant to Rev. Free amended tax return online Proc. Free amended tax return online 2002–33” at the top of the amended return. Free amended tax return online File Form 3115, Application for Change in Accounting Method, with your return for the year following the year the property was placed in service. Free amended tax return online Your return must be filed by the due date (including extensions). Free amended tax return online Write “Automatic Change Filed Under Rev. Free amended tax return online Proc. Free amended tax return online 2002–33” on the appropriate line of Form 3115. Free amended tax return online You must also file a copy (with signature) of the completed Form 3115 with the IRS National Office no later than when you file the original with your return. Free amended tax return online For more information about filing Form 3115, including the address to send it to, see Revenue Procedure 2002–9, Revenue Procedure 2002–19, and Revenue Procedure 2002–33. Free amended tax return online Example 1. Free amended tax return online You are an individual and you use the calendar year. Free amended tax return online You placed qualified property in service for your business in December 2001. Free amended tax return online You filed your 2001 income tax return before April 15, 2002. Free amended tax return online You did not claim the special depreciation allowance for the property and did not make the election not to claim the allowance. Free amended tax return online You can claim the special allowance by filing an amended 2001 return by April 15, 2003, with “Filed Pursuant to Rev. Free amended tax return online Proc. Free amended tax return online 2002–33” at the top of the amended return. Free amended tax return online You must file an amended return by April 15, 2003, even if you get an extension of time to file your 2002 tax return. Free amended tax return online Example 2. Free amended tax return online The facts concerning your 2001 return are the same as in Example 1. Free amended tax return online In addition, you got an automatic 4-month extension of time (to August 15, 2003) to file your 2002 return. Free amended tax return online You can claim the special allowance by filing a Form 3115 (with “Filed Pursuant to Rev. Free amended tax return online Proc. Free amended tax return online 2002–33” on the appropriate line) with your 2002 return by August 15, 2003. Free amended tax return online You must also file a copy of this Form 3115 with the IRS National Office no later than when you file your 2002 return. Free amended tax return online Electing not to claim the allowance. Free amended tax return online   Generally, you have elected not to claim the special depreciation allowance for a class of property if you: Filed your return timely (including extensions) for the year you placed qualified property in service and indicated on a statement with the return that you are not claiming the allowance, or Filed your return timely and filed an amended return within 6 months of the due date of the original return (not including extensions) and indicated on a statement with the amended return that you are not claiming the allowance. Free amended tax return online The statement must indicate that you are not deducting the special depreciation allowance and the class of property to which the election applies. Free amended tax return online The statement can be either attached to or written on the return. Free amended tax return online You can, for example, write “not deducting 30%” on Form 4562. Free amended tax return online Deemed election. Free amended tax return online   If you have not followed either of the procedures described above to elect not to claim the allowance, you may still be treated as making the election. Free amended tax return online You will be treated as making the election if you meet both of the following conditions. Free amended tax return online You filed your return for the year you placed the property in service and claimed depreciation, but not the special allowance, for any class of property. Free amended tax return online You do not file an amended return or a Form 3115 within the time prescribed for claiming the special allowance. Free amended tax return online See Claiming the allowance, earlier. Free amended tax return online Passenger Automobiles The limit on your depreciation deduction (including any section 179 deduction) for any passenger automobile that is qualified property (defined earlier) placed in service after September 10, 2001, and for which you claim the special depreciation allowance is increased. Free amended tax return online Generally, the limit is increased from $3,060 to $7,660. Free amended tax return online However, if the automobile is a qualified electric car, the limit is increased from $9,280 to $23,080 ($22,980 if placed in service in 2002). Free amended tax return online Table 1 shows the maximum deduction amounts for 2001. Free amended tax return online Table 1. Free amended tax return online Maximum Deduction for 2001 Qualified Vehicle Placed in Service Before Sept. Free amended tax return online 11 Placed in Service After Sept. Free amended tax return online 10 Passenger automobile $3,060 $7,660 Electric car 9,280 23,080 1 1$22,980 if you place an electric car in service in 2002. Free amended tax return online Election not to claim the allowance. Free amended tax return online   The increased maximum depreciation deduction does not apply if you elected not to claim the special depreciation allowance as explained earlier under Election Not To Claim the Allowance and Rules for Returns Filed Before June 1, 2002. Free amended tax return online New York Liberty Zone Benefits Several benefits are available for property you place in service in the New York Liberty Zone (Liberty Zone). Free amended tax return online They include a special depreciation allowance for the year you place the property in service, an increased section 179 deduction, and the classification of certain leasehold improvement property as 5-year property. Free amended tax return online Area defined. Free amended tax return online   The New York Liberty Zone is the area located on or south of Canal Street, East Broadway (east of its intersection with Canal Street), or Grand Street (east of its intersection with East Broadway) in the Borough of Manhattan in the City of New York, New York. Free amended tax return online Special Liberty Zone Depreciation Allowance You can take a special depreciation allowance for qualified Liberty Zone property you place in service after September 10, 2001. Free amended tax return online The allowance is an additional deduction of 30% of the property's depreciable basis. Free amended tax return online To figure the depreciable basis, you must first multiply the property's cost or other basis by the percentage of business/investment use and then reduce that amount by any section 179 deduction and certain other deductions and credits for the property. Free amended tax return online See What Is the Basis for Depreciation? on page 23 in Publication 946 for more information on figuring depreciable basis. Free amended tax return online The allowance is deductible for both regular tax and alternative minimum tax (AMT) purposes. Free amended tax return online There is no AMT adjustment required for any depreciation figured on the remaining basis of the property. Free amended tax return online In the year you claim the allowance (generally the year you place the property in service), you must reduce the depreciable basis of the property by the allowance before figuring your regular depreciation deduction. Free amended tax return online You cannot claim the special Liberty Zone depreciation allowance for property eligible for the special depreciation allowance explained earlier in Qualified Property under Special Depreciation Allowance. Free amended tax return online Qualified property is eligible for only one special depreciation allowance. Free amended tax return online Example 1. Free amended tax return online On November 1, 2001, you bought and placed in service in your business, which is in the Liberty Zone, qualified Liberty Zone property that cost $200,000. Free amended tax return online You did not elect to claim a section 179 deduction. Free amended tax return online You can deduct 30% of the cost ($60,000) as a special Liberty Zone depreciation allowance for 2001. Free amended tax return online You use the remaining $140,000 of cost to figure your regular depreciation deduction for 2001 and later years. Free amended tax return online Example 2. Free amended tax return online The facts are the same as in Example 1, except that you choose to deduct $59,000 of the property's cost as a section 179 deduction. Free amended tax return online (See Increased Section 179 Deduction, later, for information concerning how this section 179 deduction amount is figured). Free amended tax return online You use the remaining $141,000 of cost to figure your special Liberty Zone depreciation allowance of $42,300 ($141,000 × 30%). Free amended tax return online You use the remaining $98,700 of cost to figure your regular depreciation deduction for 2001 and later years. Free amended tax return online Qualified Liberty Zone Property For a 2001 calendar or fiscal year and a 2000 fiscal year that ends after September 10, 2001, property qualifies for the special Liberty Zone depreciation allowance if it meets the following requirements. Free amended tax return online It is one of the following types of property. Free amended tax return online Used property depreciated under MACRS with a recovery period of 20 years or less. Free amended tax return online See Can You Use MACRS To Depreciate Your Property and Which Recovery Period Applies? on pages 7 and 23, respectively, in Publication 946. Free amended tax return online Used water utility property. Free amended tax return online See 25-year property on page 22 in Publication 946. Free amended tax return online Used computer software that is not a section 197 intangible as described in Computer software on page 5 in Publication 946. Free amended tax return online (The cost of some computer software is treated as part of the cost of hardware and is depreciated under MACRS. Free amended tax return online ) Certain nonresidential real property and residential rental property (defined later). Free amended tax return online It meets the following tests (explained later under Tests to be met). Free amended tax return online Acquisition date test. Free amended tax return online Placed in service date test. Free amended tax return online Substantial use test. Free amended tax return online Original use test. Free amended tax return online It is not excepted property (explained later under Excepted property). Free amended tax return online Nonresidential real property and residential rental property. Free amended tax return online   This property is qualifying property only to the extent it rehabilitates real property damaged, or replaces real property destroyed or condemned, as a result of the terrorist attack of September 11, 2001. Free amended tax return online Property is treated as replacing destroyed or condemned property if, as part of an integrated plan, such property replaces real property included in a continuous area that includes real property destroyed or condemned. Free amended tax return online   For these purposes, real property is considered destroyed (or condemned) only if an entire building or structure was destroyed (or condemned) as a result of the terrorist attack. Free amended tax return online Otherwise, the property is considered damaged real property. Free amended tax return online For example, if certain structural components of a building (such as walls, floors, or plumbing fixtures) are damaged or destroyed as a result of the terrorist attack, but the building is not destroyed (or condemned), then only costs related to replacing the damaged or destroyed structural components qualify for the special Liberty Zone depreciation allowance. Free amended tax return online Tests to be met. Free amended tax return online   To qualify for the special Liberty Zone depreciation allowance, your property must meet all of the following tests. Free amended tax return online Acquisition date test. Free amended tax return online   You must have acquired the property by purchase after September 10, 2001, and there must not have been a binding written contract for the acquisition in effect before September 11, 2001. Free amended tax return online   For information on the acquisition of property by purchase, see Property Acquired by Purchase on page 15 of Publication 946. Free amended tax return online   Property you manufacture, construct, or produce for your own use meets this test if you began the manufacture, construction, or production of the property after September 10, 2001. Free amended tax return online Placed in service date test. Free amended tax return online   Generally, the property must be placed in service for use in your trade or business or for the production of income before January 1, 2007 (January 1, 2010, in the case of qualifying nonresidential real property and residential rental property). Free amended tax return online   If you sold property you placed in service after September 10, 2001, and you leased it back within 3 months after the property was originally placed in service, the property is treated as placed in service no earlier than the date it is used under the leaseback. Free amended tax return online Substantial use test. Free amended tax return online   Substantially all use of the property must be in the Liberty Zone and in the active conduct of your trade or business in the Liberty Zone. Free amended tax return online Original use test. Free amended tax return online   The original use of the property in the Liberty Zone must have begun with you after September 10, 2001. Free amended tax return online   Used property can be qualified Liberty Zone property if it has not previously been used within the Liberty Zone. Free amended tax return online Also, additional capital expenditures you incurred after September 10, 2001, to recondition or rebuild your property meet the original use test if the original use of the property in the Liberty Zone began with you. Free amended tax return online Excepted property. Free amended tax return online   The following property does not qualify for the special Liberty Zone depreciation allowance. Free amended tax return online Property eligible for the special depreciation allowance explained earlier in Qualified Property under Special Depreciation Allowance. Free amended tax return online Property required to be depreciated using ADS. Free amended tax return online This includes listed property used 50% or less in a qualified business use. Free amended tax return online Qualified New York Liberty Zone leasehold improvement property (defined earlier in Excepted Property under Special Depreciation Allowance). Free amended tax return online Example. Free amended tax return online In December 2001, you bought and placed in service in your business in the Liberty Zone the following property. Free amended tax return online New office furniture with a MACRS recovery period of 7 years. Free amended tax return online A used computer with a MACRS recovery period of 5 years. Free amended tax return online The computer had not previously been used within the Liberty Zone. Free amended tax return online Because the office furniture is new property, it qualifies for the special depreciation allowance, but not the special Liberty Zone depreciation allowance. Free amended tax return online Because the computer is used property that had not previously been used in the Liberty Zone, it qualifies for the special Liberty Zone depreciation allowance, but not the special depreciation allowance. Free amended tax return online Election Not To Claim the Liberty Zone Allowance You can elect not to claim the special Liberty Zone depreciation allowance for qualified property. Free amended tax return online If you make this election for any property, it applies to all property in the same property class placed in service during the year. Free amended tax return online To make this election, attach a statement to your return indicating you elect not to claim the allowance and the class of property for which you are making the election. Free amended tax return online When to make the election. Free amended tax return online   Generally, you must make the election on a timely filed tax return (including extensions) for the year in which you place the property in service. Free amended tax return online   However, if you timely filed your return for the year without making the election, you can still make the election by filing an amended return within 6 months of the due date of the original return (not including extensions). Free amended tax return online Attach the election statement to the amended return. Free amended tax return online At the top of the election statement, write “Filed pursuant to section 301. Free amended tax return online 9100–2. Free amended tax return online ” Revoking an election. Free amended tax return online   Once you elect not to deduct the special Liberty Zone depreciation allowance for a class of property, you cannot revoke the election without IRS consent. Free amended tax return online A request to revoke the election is subject to a user fee. Free amended tax return online Returns filed before June 1, 2002. Free amended tax return online   The rules that apply to the special depreciation allowance discussed earlier in Rules for Returns Filed Before June 1, 2002 under Special Depreciation Allowance also apply to the special Liberty Zone depreciation allowance. Free amended tax return online Increased Section 179 Deduction Under section 179 of the Internal Revenue Code, you can choose to recover all or part of the cost of certain qualifying property, up to a limit, by deducting it in the year you place the property in service. Free amended tax return online For tax years beginning in 2000, that limit was $20,000. Free amended tax return online For tax years beginning in 2001 and 2002, that limit is generally $24,000. Free amended tax return online If the cost of qualifying section 179 property placed in service in a year is over $200,000, you must reduce the dollar limit (but not below zero) by the amount of the cost over $200,000. Free amended tax return online Increased Dollar Limit The dollar limit on the section 179 deduction is increased for certain property placed in service in the Liberty Zone. Free amended tax return online The increase is the smaller of the following amounts. Free amended tax return online $35,000. Free amended tax return online The cost of section 179 property that is qualified Liberty Zone property placed in service during the year. Free amended tax return online If you use the revised 2001 Form 4562 (dated March 2002) for a tax year beginning in 2000, you must reduce the section 179 dollar limit to $20,000 before adding the additional amount for qualified property. Free amended tax return online Qualified property. Free amended tax return online   To qualify for the increased section 179 deduction, your property must be section 179 property that is either: Qualified Liberty Zone property, or Property that would be qualified Liberty Zone property except that it is eligible for the special depreciation allowance. Free amended tax return online Qualified Liberty Zone property is explained earlier in Qualified Liberty Zone Property under Special Liberty Zone Depreciation Allowance. Free amended tax return online Property eligible for the special depreciation allowance is explained earlier in Qualified Property under Special Depreciation Allowance. Free amended tax return online For information on the requirements that must be met for property to qualify for the section 179 deduction, see What Property Qualifies? on page 14 of Publication 946. Free amended tax return online Example 1. Free amended tax return online In 2002, you place in service in your business, which is in the Liberty Zone, qualified property (defined earlier) costing $25,000. Free amended tax return online Because this cost is less than $35,000, the dollar limit on the section 179 deduction is increased by $25,000 to $49,000 ($24,000 + $25,000). Free amended tax return online Example 2. Free amended tax return online In 2002, you place in service in your business, which is in the Liberty Zone, qualified property (defined earlier) costing $75,000. Free amended tax return online Because $35,000 is less than the cost of the property you place in service, the dollar limit on the section 179 deduction you can claim is increased by $35,000 to $59,000 ($24,000 + $35,000). Free amended tax return online Reduced Dollar Limit Generally, you must reduce the dollar limit for a year by the cost of qualifying section 179 property placed in service in the year that is more than $200,000. Free amended tax return online However, if the cost of your Liberty Zone property exceeds $200,000, you take into account only 50% (instead of 100%) of the cost of qualified property placed in service in a year. Free amended tax return online Example. Free amended tax return online In 2002, you place in service in your business, which is in the Liberty Zone, qualified property costing $460,000. Free amended tax return online Your increased dollar limit is $59,000 ($35,000 + $24,000). Free amended tax return online Because 50% of the cost of the property you place in service ($230,000) is $30,000 more than $200,000, you must reduce your $59,000 dollar limit to $29,000 ($59,000 - $30,000). Free amended tax return online Recapture Rules Rules similar to those explained on page 20 of Publication 946 under When Must You Recapture the Deduction? apply with respect to any qualified property you stop using in the Liberty Zone. Free amended tax return online Returns Filed Before June 1, 2002 If you filed a return before June 1, 2002, and did not deduct the increased section 179 amount for qualified property placed in service after September 10, 2001, you can deduct the increased amount by filing an amended return by the due date (not including extensions) of the return for the year after the year the property was placed in service. Free amended tax return online This rule applies to returns for the following years. Free amended tax return online 2000 fiscal years that end after September 10, 2001. Free amended tax return online 2001 calendar and fiscal years. Free amended tax return online On the amended return, write “Filed Pursuant to Rev. Free amended tax return online Proc. Free amended tax return online 2002–33. Free amended tax return online ” Liberty Zone Leasehold Improvement Property Qualified Liberty Zone leasehold improvement property (described earlier in Qualified Property under Special Depreciation Allowance) is 5-year property. Free amended tax return online This means that it is depreciated over a recovery period of 5 years. Free amended tax return online For information about recovery periods, see Which Recovery Period Applies? on page 23 of Publication 946. Free amended tax return online The straight-line method must be used with respect to qualified Liberty Zone leasehold improvement property. Free amended tax return online Under ADS, the recovery period for qualified Liberty Zone leasehold improvement property is 9 years. Free amended tax return online Returns Filed Before June 1, 2002 If you filed either of the following returns before June 1, 2002, and did not depreciate qualified Liberty Zone leasehold improvement property placed in service during the tax year as 5-year property using the straight line method, you should file an amended return before you file your return for the year after the year the property was placed in service. Free amended tax return online Your 2000 fiscal year return (for a 2000 fiscal year that ends after September 10, 2001). Free amended tax return online Your 2001 calendar or fiscal year return. Free amended tax return online On the amended return, write “Filed Pursuant to Rev. Free amended tax return online Proc. Free amended tax return online 2002–33. Free amended tax return online ” Table 2. Free amended tax return online Rules for Returns Filed Before June 1, 2002 Note:This chart highlights the rules for returns affected by the Job Creation and Worker Assistance Act of 2002 that were filed before June 1, 2002, without accounting for any of the new benefits under the law. Free amended tax return online See the text for definitions and examples. Free amended tax return online Do not rely on this chart alone. Free amended tax return online IF you want to. Free amended tax return online . Free amended tax return online . Free amended tax return online THEN you. Free amended tax return online . Free amended tax return online . Free amended tax return online BY. Free amended tax return online . Free amended tax return online . Free amended tax return online claim the special depreciation allowance or special Liberty Zone depreciation allowance • must file an amended return • the due date (not including extensions) of your return for the year after the year the property was placed in service, or • must file Form 3115, Application for Change in Accounting Method, with your return for the year after the year the property was placed in service • the due date (including extensions) of your return for the year after the year the property was placed in service, and • must file a copy of your completed Form 3115 with the IRS National Office • the date you file the original Form 3115 with your return for the year after the year the property was placed in service. Free amended tax return online elect not to claim the special depreciation allowance or the special Liberty Zone depreciation allowance 1 • must have filed your return timely for the year the property was placed in service, and   • must file an amended return stating you are not claiming the allowance • the date that is 6 months after the due date of the original return (not including extensions). Free amended tax return online deduct the increased section 179 amount • must file an amended return • the due date (not including extensions) of your return for the year after the year the property was placed in service. Free amended tax return online use a 5-year recovery period for depreciating qualified Liberty Zone leasehold improvement property • should file an amended return • the date you file your return for the year after the year the property was placed in service. Free amended tax return online 1See also Deemed election under Rules for Returns Filed Before June 1, 2002, earlier. 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