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Taxact login tax return taxact login page taxact sign page 3. Taxact login tax return taxact login page taxact sign page   Claiming the Special Depreciation Allowance Table of Contents Introduction What Is Qualified Property?Qualified Reuse and Recycling Property Qualified Cellulosic Biofuel Plant Property Qualified Disaster Assistance Property Certain Qualified Property Acquired After December 31, 2007 Election to Accelerate Certain Credits in Lieu of the Special Depreciation Allowance How Much Can You Deduct? How Can You Elect Not To Claim an Allowance? When Must You Recapture an Allowance? Introduction You can take a special depreciation allowance to recover part of the cost of qualified property (defined next), placed in service during the tax year. Taxact login tax return taxact login page taxact sign page The allowance applies only for the first year you place the property in service. Taxact login tax return taxact login page taxact sign page For qualified property placed in service in 2013, you can take an additional 50% special allowance. Taxact login tax return taxact login page taxact sign page The allowance is an additional deduction you can take after any section 179 deduction and before you figure regular depreciation under MACRS for the year you place the property in service. Taxact login tax return taxact login page taxact sign page This chapter explains what is qualified property. Taxact login tax return taxact login page taxact sign page It also includes rules regarding how to figure an allowance, how to elect not to claim an allowance, and when you must recapture an allowance. Taxact login tax return taxact login page taxact sign page Corporations can elect to accelerate certain minimum tax credits in lieu of claiming the special depreciation allowance for eligible qualified property. Taxact login tax return taxact login page taxact sign page See Election to Accelerate Certain Credits in Lieu of the Special Depreciation Allowance , later. Taxact login tax return taxact login page taxact sign page See chapter 6 for information about getting publications and forms. Taxact login tax return taxact login page taxact sign page What Is Qualified Property? Your property is qualified property if it is one of the following. Taxact login tax return taxact login page taxact sign page Qualified reuse and recycling property. Taxact login tax return taxact login page taxact sign page Qualified cellulosic biofuel plant property. Taxact login tax return taxact login page taxact sign page Qualified disaster assistance property. Taxact login tax return taxact login page taxact sign page Certain qualified property acquired after December 31, 2007. Taxact login tax return taxact login page taxact sign page The following discussions provide information about the types of qualified property listed above for which you can take the special depreciation allowance. Taxact login tax return taxact login page taxact sign page Qualified Reuse and Recycling Property You can take a 50% special depreciation allowance for qualified reuse and recycling property. Taxact login tax return taxact login page taxact sign page Qualified reuse and recycling property is any machinery or equipment (not including buildings or real estate), along with any appurtenance, that is used exclusively to collect, distribute, or recycle qualified reuse and recyclable materials (as defined in section 168(m)(3)(B) of the Internal Revenue Code). Taxact login tax return taxact login page taxact sign page Qualified reuse and recycling property also includes software necessary to operate such equipment. Taxact login tax return taxact login page taxact sign page The property must meet the following requirements. Taxact login tax return taxact login page taxact sign page The property must be depreciated under MACRS. Taxact login tax return taxact login page taxact sign page The property must have a useful life of at least 5 years. Taxact login tax return taxact login page taxact sign page The original use of the property must begin with you after August 31, 2008. Taxact login tax return taxact login page taxact sign page You must have acquired the property by purchase (as discussed under Property Acquired by Purchase in chapter 2 ) after August 31, 2008, with no binding written contract for the acquisition in effect before September 1, 2008. Taxact login tax return taxact login page taxact sign page The property must be placed in service for use in your trade or business after August 31, 2008. Taxact login tax return taxact login page taxact sign page Excepted Property Qualified reuse and recycling property does not include any of the following. Taxact login tax return taxact login page taxact sign page Any rolling stock or other equipment used to transport reuse or recyclable materials. Taxact login tax return taxact login page taxact sign page Property required to be depreciated using the Alternative Depreciation System (ADS). Taxact login tax return taxact login page taxact sign page For other property required to be depreciated using ADS, see Required use of ADS under Which Depreciation System (GDS or ADS) Applies , in chapter 4 . Taxact login tax return taxact login page taxact sign page Other bonus depreciation property to which section 168(k) of the Internal Revenue Code applies. Taxact login tax return taxact login page taxact sign page Property for which you elected not to claim any special depreciation allowance (discussed later). Taxact login tax return taxact login page taxact sign page Property placed in service and disposed of in the same tax year. Taxact login tax return taxact login page taxact sign page Property converted from business use to personal use in the same tax year acquired. Taxact login tax return taxact login page taxact sign page Property converted from personal use to business use in the same or later tax year may be qualified reuse and recycling property. Taxact login tax return taxact login page taxact sign page Qualified Cellulosic Biofuel Plant Property You can take a 50% special depreciation allowance for qualified cellulosic biofuel plant property. Taxact login tax return taxact login page taxact sign page Cellulosic biofuel is any liquid fuel which is produced from any lignocellulosic or hemicellulosic matter that is available on a renewable or recurring basis. Taxact login tax return taxact login page taxact sign page Examples include bagasse (from sugar cane), corn stalks, and switchgrass. Taxact login tax return taxact login page taxact sign page The property must meet the following requirements. Taxact login tax return taxact login page taxact sign page The property is used in the United States solely to produce cellulosic biofuel. Taxact login tax return taxact login page taxact sign page The original use of the property must begin with you after December 20, 2006. Taxact login tax return taxact login page taxact sign page You must have acquired the property by purchase (as discussed under Property Acquired by Purchase in chapter 2 ) after December 20, 2006, with no binding written contract for acquisition in effect before December 21, 2006. Taxact login tax return taxact login page taxact sign page The property must be placed in service for use in your trade or business or for the production of income after October 3, 2008, and before January 3, 2013. Taxact login tax return taxact login page taxact sign page Note. Taxact login tax return taxact login page taxact sign page For property placed in service after January 2, 2013, and before January 1, 2014, you can take a 50% special depreciation allowance for qualified second generation biofuel plant property that is used solely in the United States to produce second generation biofuel (as defined in section 40(b)(6)(E)). Taxact login tax return taxact login page taxact sign page The other requirements for qualified second generation biofuel plant property to be eligible for the special depreciation allowance are identical to the requirements discussed for Qualified Cellulosic Biofuel Plant Property above. Taxact login tax return taxact login page taxact sign page Special Rules Sale-leaseback. Taxact login tax return taxact login page taxact sign page   If you sold qualified cellulosic biofuel plant property you placed in service after October 3, 2008, and leased it back within 3 months after you originally placed it in service, the property is treated as originally placed in service no earlier than the date it is used by you under the leaseback. Taxact login tax return taxact login page taxact sign page   The property will not qualify for the special allowance if the lessee or a related person to the lessee or lessor had a written binding contract in effect for the acquisition of the property before December 21, 2006. Taxact login tax return taxact login page taxact sign page Syndicated leasing transactions. Taxact login tax return taxact login page taxact sign page   If qualified cellulosic biofuel plant property is originally placed in service by a lessor after October 3, 2008, the property is sold within 3 months of the date it was placed in service, and the user of the property does not change, then the property is treated as originally placed in service by the taxpayer no earlier than the date of the last sale. Taxact login tax return taxact login page taxact sign page   Multiple units of property subject to the same lease will be treated as originally placed in service no earlier than the date of sale if the property is sold within 3 months after the final unit is placed in service and the period between the times the first and last units are placed in service does not exceed 12 months. Taxact login tax return taxact login page taxact sign page Excepted Property Qualified cellulosic biofuel plant property does not include any of the following. Taxact login tax return taxact login page taxact sign page Property placed in service and disposed of in the same tax year. Taxact login tax return taxact login page taxact sign page Property converted from business use to personal use in the same tax year it is acquired. Taxact login tax return taxact login page taxact sign page Property converted from personal use to business use in the same or later tax year may be qualified cellulosic biomass ethanol plant property. Taxact login tax return taxact login page taxact sign page Property required to be depreciated using the Alternative Depreciation System (ADS). Taxact login tax return taxact login page taxact sign page For other property required to be depreciated using ADS, see Required use of ADS under Which Depreciation System (GDS or ADS) Applies , in chapter 4 . Taxact login tax return taxact login page taxact sign page Property any portion of which is financed with the proceeds of any obligation the interest on which is exempt from tax under section 103 of the Internal Revenue Code. Taxact login tax return taxact login page taxact sign page Property for which you elected not to claim any special depreciation allowance (discussed later). Taxact login tax return taxact login page taxact sign page Property for which a deduction was taken under section 179C for certain qualified refinery property. Taxact login tax return taxact login page taxact sign page Other bonus depreciation property to which section 168(k) of the Internal Revenue Code applies. Taxact login tax return taxact login page taxact sign page Qualified Disaster Assistance Property You can take a 50% special depreciation allowance for qualified disaster assistance property placed in service in federally declared disaster areas in which the disaster occurred in 2009. Taxact login tax return taxact login page taxact sign page A list of the federally declared disaster areas is available at the FEMA website at www. Taxact login tax return taxact login page taxact sign page fema. Taxact login tax return taxact login page taxact sign page gov. Taxact login tax return taxact login page taxact sign page Your property is qualified disaster assistance property if it meets the following requirements. Taxact login tax return taxact login page taxact sign page The property is nonresidential real property or residential real property placed in service before January 1, 2014, in a federally declared disaster area in which the disaster occurred in 2009. Taxact login tax return taxact login page taxact sign page You must have acquired the property by purchase (as discussed under Property Acquired by Purchase in chapter 2 ) on or after the applicable disaster date, with no binding written contract for the acquisition in effect before the applicable disaster date. Taxact login tax return taxact login page taxact sign page The property must rehabilitate property damaged, or replace property destroyed or condemned, as a result of the applicable federally declared disaster. Taxact login tax return taxact login page taxact sign page The property must be similar in nature to, and located in the same county as, the rehabilitated or replaced property. Taxact login tax return taxact login page taxact sign page The original use of the property within the applicable disaster area must have begun with you on or after the applicable disaster date. Taxact login tax return taxact login page taxact sign page The property is placed in service by you on or before the date which is the last day of the fourth calendar year. Taxact login tax return taxact login page taxact sign page Substantially all (80% or more) of the use of the property must be in the active conduct of your trade or business in a federally declared disaster area, occurring in 2009. Taxact login tax return taxact login page taxact sign page It is not excepted property (explained later in Excepted Property ). Taxact login tax return taxact login page taxact sign page Special Rules Sale-leaseback. Taxact login tax return taxact login page taxact sign page   If you sold qualified disaster assistance property you placed in service after the applicable disaster date and leased it back within 3 months after you originally placed it in service, the property is treated as originally placed in service no earlier than the date it is used by you under the leaseback. Taxact login tax return taxact login page taxact sign page   The property will not qualify for the special allowance if the lessee or a related person to the lessee or lessor had a written binding contract in effect for the acquisition of the property before the applicable disaster date. Taxact login tax return taxact login page taxact sign page Syndicated leasing transactions. Taxact login tax return taxact login page taxact sign page   If qualified disaster assistance property is originally placed in service by a lessor after the applicable disaster date, the property is sold within 3 months of the date it was placed in service, and the user of the property does not change, then the property is treated as originally placed in service by the taxpayer no earlier than the date of the last sale. Taxact login tax return taxact login page taxact sign page   Multiple units of property subject to the same lease will be treated as originally placed in service no earlier than the date of sale if the property is sold within 3 months after the final unit is placed in service and the period between the times the first and last units are placed in service does not exceed 12 months. Taxact login tax return taxact login page taxact sign page Excepted Property Qualified disaster assistance property does not include any of the following. Taxact login tax return taxact login page taxact sign page Property required to be depreciated using the Alternative Depreciation System (ADS). Taxact login tax return taxact login page taxact sign page For other property required to be depreciated using ADS, see Required use of ADS under Which Depreciation System (GDS or ADS) Applies , in chapter 4 . Taxact login tax return taxact login page taxact sign page Property any portion of which is financed with the proceeds of a tax-exempt obligation under section 103 of the Internal Revenue Code. Taxact login tax return taxact login page taxact sign page Any qualified revitalization building (defined later) placed in service before January 1, 2010, for which you have elected to claim a commercial revitalization deduction for qualified revitalization expenditures. Taxact login tax return taxact login page taxact sign page Any property used in connection with any private or commercial golf course, country club, massage parlor, hot tub facility, suntan facility, or any store, the principal business of which is the sale of alcoholic beverages for consumption off premises. Taxact login tax return taxact login page taxact sign page Any property for which the special allowance under section 168(k) or section 1400N(d) of the Internal Revenue Code applies. Taxact login tax return taxact login page taxact sign page Property for which you elected not to claim any special depreciation allowance (discussed later). Taxact login tax return taxact login page taxact sign page Property placed in service and disposed of in the same tax year. Taxact login tax return taxact login page taxact sign page Property converted from business use to personal use in the same tax year acquired. Taxact login tax return taxact login page taxact sign page Property converted from personal use to business use in the same or later tax year may be qualified disaster assistance property. Taxact login tax return taxact login page taxact sign page Any gambling or animal racing property (defined later). Taxact login tax return taxact login page taxact sign page Qualified revitalization building. Taxact login tax return taxact login page taxact sign page   This is a commercial building and its structural components that you placed in service in a renewal community before January 1, 2010. Taxact login tax return taxact login page taxact sign page If the building is new, the original use of the building must begin with you. Taxact login tax return taxact login page taxact sign page If the building is not new, you must substantially rehabilitate the building and then place it in service. Taxact login tax return taxact login page taxact sign page For more information, including definitions of substantially rehabilitated building and qualified revitalization expenditure, see section 1400I(b) of the Internal Revenue Code. Taxact login tax return taxact login page taxact sign page Gambling or animal racing property. Taxact login tax return taxact login page taxact sign page   Gambling or animal racing property includes the following personal and real property. Taxact login tax return taxact login page taxact sign page Any equipment, furniture, software, or other property used directly in connection with gambling, the racing of animals, or the on-site viewing of such racing. Taxact login tax return taxact login page taxact sign page Any real property determined by square footage (other than any portion that is less than 100 square feet) that is dedicated to gambling, the racing of animals, or the on-site viewing of such racing. Taxact login tax return taxact login page taxact sign page Certain Qualified Property Acquired After December 31, 2007 You can take a 50% special depreciation deduction allowance for certain qualified property acquired after December 31, 2007. Taxact login tax return taxact login page taxact sign page Your property is qualified property if it meets the following requirements. Taxact login tax return taxact login page taxact sign page It is one of the following types of property. Taxact login tax return taxact login page taxact sign page Tangible property depreciated under MACRS with a recovery period of 20 years or less. Taxact login tax return taxact login page taxact sign page Water utility property. Taxact login tax return taxact login page taxact sign page Computer software that is readily available for purchase by the general public, is subject to a nonexclusive license, and has not been substantially modified. Taxact login tax return taxact login page taxact sign page (The cost of some computer software is treated as part of the cost of hardware and is depreciated under MACRS. Taxact login tax return taxact login page taxact sign page ) Qualified leasehold improvement property (defined under Qualified leasehold improvement property later). Taxact login tax return taxact login page taxact sign page You must have acquired the property after December 31, 2007, with no binding written contract for the acquisition in effect before January 1, 2008. Taxact login tax return taxact login page taxact sign page The property must be placed in service for use in your trade or business or for the production of income before January 1, 2014 (before January 1, 2015, for certain property with a long production period and certain aircraft (defined next)). Taxact login tax return taxact login page taxact sign page The original use of the property must begin with you after December 31, 2007. Taxact login tax return taxact login page taxact sign page It is not excepted property (explained later in Excepted property). Taxact login tax return taxact login page taxact sign page Qualified leasehold improvement property. Taxact login tax return taxact login page taxact sign page    Generally, this is any improvement to an interior part of a building that is nonresidential real property, if all the following requirements are met. Taxact login tax return taxact login page taxact sign page The improvement is made under or according to a lease by the lessee (or any sublessee) or the lessor of that part of the building. Taxact login tax return taxact login page taxact sign page That part of the building is to be occupied exclusively by the lessee (or any sublessee) of that part. Taxact login tax return taxact login page taxact sign page The improvement is placed in service more than 3 years after the date the building was first placed in service by any person. Taxact login tax return taxact login page taxact sign page The improvement is section 1250 property. Taxact login tax return taxact login page taxact sign page See chapter 3 in Publication 544, Sales and Other Dispositions of Assets, for the definition of section 1250 property. Taxact login tax return taxact login page taxact sign page   However, a qualified leasehold improvement does not include any improvement for which the expenditure is attributable to any of the following. Taxact login tax return taxact login page taxact sign page The enlargement of the building. Taxact login tax return taxact login page taxact sign page Any elevator or escalator. Taxact login tax return taxact login page taxact sign page Any structural component benefiting a common area. Taxact login tax return taxact login page taxact sign page The internal structural framework of the building. Taxact login tax return taxact login page taxact sign page   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. Taxact login tax return taxact login page taxact sign page However, a lease between related persons is not treated as a lease. Taxact login tax return taxact login page taxact sign page Related persons. Taxact login tax return taxact login page taxact sign page   For this purpose, the following are related persons. Taxact login tax return taxact login page taxact sign page Members of an affiliated group. Taxact login tax return taxact login page taxact sign page An individual and a member of his or her family, including only a spouse, child, parent, brother, sister, half-brother, half-sister, ancestor, and lineal descendant. Taxact login tax return taxact login page taxact sign page A corporation and an individual who directly or indirectly owns 80% or more of the value of the outstanding stock of that corporation. Taxact login tax return taxact login page taxact sign page Two corporations that are members of the same controlled group. Taxact login tax return taxact login page taxact sign page A trust fiduciary and a corporation if 80% or more of the value of the outstanding stock is directly or indirectly owned by or for the trust or grantor of the trust. Taxact login tax return taxact login page taxact sign page The grantor and fiduciary, and the fiduciary and beneficiary, of any trust. Taxact login tax return taxact login page taxact sign page The fiduciaries of two different trusts, and the fiduciaries and beneficiaries of two different trusts, if the same person is the grantor of both trusts. Taxact login tax return taxact login page taxact sign page A tax-exempt educational or charitable organization and any person (or, if that person is an individual, a member of that person's family) who directly or indirectly controls the organization. Taxact login tax return taxact login page taxact sign page Two S corporations, and an S corporation and a regular corporation, if the same persons own 80% or more of the value of the outstanding stock of each corporation. Taxact login tax return taxact login page taxact sign page A corporation and a partnership if the same persons own both of the following. Taxact login tax return taxact login page taxact sign page 80% or more of the value of the outstanding stock of the corporation. Taxact login tax return taxact login page taxact sign page 80% or more of the capital or profits interest in the partnership. Taxact login tax return taxact login page taxact sign page The executor and beneficiary of any estate. Taxact login tax return taxact login page taxact sign page Long Production Period Property To be qualified property, long production period property must meet the following requirements. Taxact login tax return taxact login page taxact sign page It must meet the requirements in (2)-(5), above. Taxact login tax return taxact login page taxact sign page The property has a recovery period of at least 10 years or is transportation property. Taxact login tax return taxact login page taxact sign page Transportation property is tangible personal property used in the trade or business of transporting persons or property. Taxact login tax return taxact login page taxact sign page The property is subject to section 263A of the Internal Revenue Code. Taxact login tax return taxact login page taxact sign page The property has an estimated production period exceeding 1 year and an estimated production cost exceeding $1,000,000. Taxact login tax return taxact login page taxact sign page Noncommercial Aircraft To be qualified property, noncommercial aircraft must meet the following requirements. Taxact login tax return taxact login page taxact sign page It must meet the requirements in (2)-(5), above. Taxact login tax return taxact login page taxact sign page The aircraft must not be tangible personal property used in the trade or business of transporting persons or property (except for agricultural or firefighting purposes). Taxact login tax return taxact login page taxact sign page The aircraft must be purchased (as discussed under Property Acquired by Purchase in chapter 2 ) by a purchaser who at the time of the contract for purchase, makes a nonrefundable deposit of the lesser of 10% of the cost or $100,000. Taxact login tax return taxact login page taxact sign page The aircraft must have an estimated production period exceeding four months and a cost exceeding $200,000. Taxact login tax return taxact login page taxact sign page Special Rules Sale-leaseback. Taxact login tax return taxact login page taxact sign page   If you sold qualified property you placed in service after December 31, 2007, and leased it back within 3 months after you originally placed in service, the property is treated as originally placed in service no earlier than the date it is used by you under the leaseback. Taxact login tax return taxact login page taxact sign page   The property will not qualify for the special depreciation allowance if the lessee or a related person to the lessee or lessor had a written binding contract in effect for the acquisition of the property before January 1, 2008. Taxact login tax return taxact login page taxact sign page Syndicated leasing transactions. Taxact login tax return taxact login page taxact sign page   If qualified property is originally placed in service by a lessor after December 31, 2007, the property is sold within 3 months of the date it was placed in service, and the user of the property does not change, then the property is treated as originally placed in service by the taxpayer no earlier than the date of the last sale. Taxact login tax return taxact login page taxact sign page   Multiple units of property subject to the same lease will be treated as originally placed in service no earlier than the date of the last sale if the property is sold within 3 months after the final unit is placed in service and the period between the time the first and last units are placed in service does not exceed 12 months. Taxact login tax return taxact login page taxact sign page Excepted Property Qualified property does not include any of the following. Taxact login tax return taxact login page taxact sign page Property placed in service and disposed of in the same tax year. Taxact login tax return taxact login page taxact sign page Property converted from business use to personal use in the same tax year acquired. Taxact login tax return taxact login page taxact sign page Property converted from personal use to business use in the same or later tax year may be qualified property. Taxact login tax return taxact login page taxact sign page Property required to be depreciated under the Alternative Depreciation System (ADS). Taxact login tax return taxact login page taxact sign page This includes listed property used 50% or less in a qualified business use. Taxact login tax return taxact login page taxact sign page For other property required to be depreciated using ADS, see Required use of ADS under Which Depreciation System (GDS or ADS) Applies , in chapter 4 . Taxact login tax return taxact login page taxact sign page Qualified restaurant property (as defined in section 168(e)(7) of the Internal Revenue Code). Taxact login tax return taxact login page taxact sign page Qualified retail improvement property (as defined in section 168(e)(8) of the Internal Revenue Code). Taxact login tax return taxact login page taxact sign page Property for which you elected not to claim any special depreciation allowance (discussed later). Taxact login tax return taxact login page taxact sign page Property for which you elected to accelerate certain credits in lieu of the special depreciation allowance (discussed next). Taxact login tax return taxact login page taxact sign page Election to Accelerate Certain Credits in Lieu of the Special Depreciation Allowance An election made by a corporation to claim pre-2006 unused minimum tax credits in lieu of claiming the special depreciation allowance for either its first tax year ending after March 31, 2008, its first tax year ending after December 31, 2008, or its first tax year ending after December 31, 2010, continues to apply to round 2 extension property (as defined in section 168(k)(4)(I)(iv)), unless the corporation made an election not to apply the section 168(k)(4) election to round 2 extension property for its first tax year ending after December 31, 2010. Taxact login tax return taxact login page taxact sign page For 2013, round 2 extension property generally is long production period and noncommercial aircraft if acquired after March 31, 2008, and placed in service after December 31, 2012, but before January 1, 2014. Taxact login tax return taxact login page taxact sign page An election made by a corporation to claim pre-2006 unused minimum tax credits in lieu of claiming the special depreciation allowance for either its first tax year ending after March 31, 2008, its first tax year ending after December 31, 2008, or its first tax year ending after December 31, 2010, continues to apply to round 3 extension property (as defined in section 168(k)(4)(J)(iv)), unless the corporation makes an election not to apply the section 168(k)(4) election to round 3 extension property. Taxact login tax return taxact login page taxact sign page If a corporation did not make a section 168(k)(4) election for either its first tax year ending after March 31, 2008, its first tax year ending after December 31, 2008, or its first tax year ending after December 31, 2010, the corporation may elect for its first tax year ending after December 31, 2012, to claim pre-2006 unused minimum tax credits in lieu of claiming the special depreciation allowance for only round 3 extension property. Taxact login tax return taxact login page taxact sign page If you make an election to accelerate these credits in lieu of claiming the special depreciation allowance for eligible property, you must not take the 50% special depreciation allowance for the property and must depreciate the basis in the property under MACRS using the straight line method. Taxact login tax return taxact login page taxact sign page See Which Depreciation Method Applies in chapter 4 . Taxact login tax return taxact login page taxact sign page Once made, the election cannot be revoked without IRS consent. Taxact login tax return taxact login page taxact sign page Additional guidance. Taxact login tax return taxact login page taxact sign page   For additional guidance on the election to accelerate the research or minimum tax credit in lieu of claiming the special depreciation allowance, see Rev. Taxact login tax return taxact login page taxact sign page Proc. Taxact login tax return taxact login page taxact sign page 2008-65 on page 1082 of Internal Revenue Bulletin 2008-44, available at www. Taxact login tax return taxact login page taxact sign page irs. Taxact login tax return taxact login page taxact sign page gov/pub/irs-irbs/irb08-44. Taxact login tax return taxact login page taxact sign page pdf, Rev. Taxact login tax return taxact login page taxact sign page Proc. Taxact login tax return taxact login page taxact sign page 2009-16 on page 449 of Internal Revenue Bulletin 2009-06, available at www. Taxact login tax return taxact login page taxact sign page irs. Taxact login tax return taxact login page taxact sign page gov/pub/irs-irbs/irb09-06. Taxact login tax return taxact login page taxact sign page pdf, and Rev. Taxact login tax return taxact login page taxact sign page Proc. Taxact login tax return taxact login page taxact sign page 2009-33 on page 150 of Internal Revenue Bulletin 2009-29, available at www. Taxact login tax return taxact login page taxact sign page irs. Taxact login tax return taxact login page taxact sign page gov/pub/irs-irbs/irb09-29. Taxact login tax return taxact login page taxact sign page pdf. Taxact login tax return taxact login page taxact sign page Also, see Form 3800, General Business Credit; Form 8827, Credit for Prior Year Minimum Tax — Corporations; and related instructions. Taxact login tax return taxact login page taxact sign page   Additional guidance regarding the election to accelerate the minimum tax credit in lieu of claiming the special depreciation allowance for round 2 extension property and round 3 extension property may also be available in later Internal Revenue Bulletins available at www. Taxact login tax return taxact login page taxact sign page irs. Taxact login tax return taxact login page taxact sign page gov/irb. Taxact login tax return taxact login page taxact sign page How Much Can You Deduct? Figure the special depreciation allowance by multiplying the depreciable basis of qualified reuse and recycling property, qualified cellulosic biofuel plant property, qualified disaster assistance property, and certain qualified property acquired after December 31, 2007, by 50%. Taxact login tax return taxact login page taxact sign page For qualified property other than listed property, enter the special allowance on line 14 in Part II of Form 4562. Taxact login tax return taxact login page taxact sign page For qualified property that is listed property, enter the special allowance on line 25 in Part V of Form 4562. Taxact login tax return taxact login page taxact sign page If you place qualified property in service in a short tax year, you can take the full amount of a special depreciation allowance. Taxact login tax return taxact login page taxact sign page Depreciable basis. Taxact login tax return taxact login page taxact sign page   This is the property's cost or other basis multiplied by the percentage of business/investment use, reduced by the total amount of any credits and deductions allocable to the property. Taxact login tax return taxact login page taxact sign page   The following are examples of some credits and deductions that reduce depreciable basis. Taxact login tax return taxact login page taxact sign page Any section 179 deduction. Taxact login tax return taxact login page taxact sign page Any deduction for removal of barriers to the disabled and the elderly. Taxact login tax return taxact login page taxact sign page Any disabled access credit, enhanced oil recovery credit, and credit for employer-provided childcare facilities and services. Taxact login tax return taxact login page taxact sign page Basis adjustment to investment credit property under section 50(c) of the Internal Revenue Code. Taxact login tax return taxact login page taxact sign page   For additional credits and deductions that affect basis, see section 1016 of the Internal Revenue Code. Taxact login tax return taxact login page taxact sign page   For information about how to determine the cost or other basis of property, see What Is the Basis of Your Depreciable Property in chapter 1 . Taxact login tax return taxact login page taxact sign page For a discussion of business/investment use, see Partial business or investment use under Property Used in Your Business or Income-Producing Activity in chapter 1 . Taxact login tax return taxact login page taxact sign page Depreciating the remaining cost. Taxact login tax return taxact login page taxact sign page   After you figure your special depreciation allowance for your qualified property, you can use the remaining cost to figure your regular MACRS depreciation deduction (discussed in chapter 4 . Taxact login tax return taxact login page taxact sign page Therefore, you must reduce the depreciable basis of the property by the special depreciation allowance before figuring your regular MACRS depreciation deduction. Taxact login tax return taxact login page taxact sign page Example. Taxact login tax return taxact login page taxact sign page On November 1, 2013, Tom Brown bought and placed in service in his business qualified property that cost $450,000. Taxact login tax return taxact login page taxact sign page He did not elect to claim a section 179 deduction. Taxact login tax return taxact login page taxact sign page He deducts 50% of the cost ($225,000) as a special depreciation allowance for 2013. Taxact login tax return taxact login page taxact sign page He uses the remaining $225,000 of cost to figure his regular MACRS depreciation deduction for 2013 and later years. Taxact login tax return taxact login page taxact sign page Like-kind exchanges and involuntary conversions. Taxact login tax return taxact login page taxact sign page   If you acquire qualified property in a like-kind exchange or involuntary conversion, the carryover basis of the acquired property is eligible for a special depreciation allowance. Taxact login tax return taxact login page taxact sign page After you figure your special allowance, you can use the remaining carryover basis to figure your regular MACRS depreciation deduction. Taxact login tax return taxact login page taxact sign page In the year you claim the allowance (the year you place in service the property received in the exchange or dispose of involuntarily converted property), you must reduce the carryover basis of the property by the allowance before figuring your regular MACRS depreciation deduction. Taxact login tax return taxact login page taxact sign page See Figuring the Deduction for Property Acquired in a Nontaxable Exchange , in chapter 4 under How Is the Depreciation Deduction Figured . Taxact login tax return taxact login page taxact sign page The excess basis (the part of the acquired property's basis that exceeds its carryover basis) is also eligible for a special depreciation allowance. Taxact login tax return taxact login page taxact sign page How Can You Elect Not To Claim an Allowance? You can elect, for any class of property, not to deduct any special allowances for all property in such class placed in service during the tax year. Taxact login tax return taxact login page taxact sign page To make an election, attach a statement to your return indicating what election you are making and the class of property for which you are making the election. Taxact login tax return taxact login page taxact sign page When to make election. Taxact login tax return taxact login page taxact sign page   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. Taxact login tax return taxact login page taxact sign page   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). Taxact login tax return taxact login page taxact sign page Attach the election statement to the amended return. Taxact login tax return taxact login page taxact sign page On the amended return, write “Filed pursuant to section 301. Taxact login tax return taxact login page taxact sign page 9100-2. Taxact login tax return taxact login page taxact sign page ” Revoking an election. Taxact login tax return taxact login page taxact sign page   Once you elect not to deduct a special depreciation allowance for a class of property, you cannot revoke the election without IRS consent. Taxact login tax return taxact login page taxact sign page A request to revoke the election is a request for a letter ruling. Taxact login tax return taxact login page taxact sign page If you elect not to have any special allowance apply, the property may be subject to an alternative minimum tax adjustment for depreciation. Taxact login tax return taxact login page taxact sign page When Must You Recapture an Allowance? When you dispose of property for which you claimed a special depreciation allowance, any gain on the disposition is generally recaptured (included in income) as ordinary income up to the amount of the special depreciation allowance previously allowed or allowable. Taxact login tax return taxact login page taxact sign page See When Do You Recapture MACRS Depreciation in chapter 4 or more information. Taxact login tax return taxact login page taxact sign page Recapture of allowance deducted for qualified GO Zone property. Taxact login tax return taxact login page taxact sign page   If, in any year after the year you claim the special depreciation allowance for qualified GO Zone property (including specified GO Zone extension property), the property ceases to be used in the GO Zone, you may have to recapture as ordinary income the excess benefit you received from claiming the special depreciation allowance. Taxact login tax return taxact login page taxact sign page For additional guidance, see Notice 2008-25 on page 484 of Internal Revenue Bulletin 2008-9. Taxact login tax return taxact login page taxact sign page Qualified cellulosic biomass ethanol plant property and qualified cellulosic biofuel plant property. Taxact login tax return taxact login page taxact sign page   If, in any year after the year you claim the special depreciation allowance for any qualified cellulosic biomass ethanol plant property or qualified biofuel plant property, the property ceases to be qualified cellulosic biomass ethanol plant property or qualified biofuel plant property, you may have to recapture as ordinary income the excess benefit you received from claiming the special depreciation allowance. Taxact login tax return taxact login page taxact sign page Recapture of allowance for qualified Recovery Assistance property. Taxact login tax return taxact login page taxact sign page   If, in any year after the year you claim the special depreciation allowance for qualified Recovery Assistance property, the property ceases to be used in the Kansas disaster area, you may have to recapture as ordinary income the excess benefit you received from claiming the special depreciation allowance. Taxact login tax return taxact login page taxact sign page For additional guidance, see Notice 2008-67 on page 307 of Internal Revenue Bulletin 2008-32. Taxact login tax return taxact login page taxact sign page Recapture of allowance for qualified disaster assistance property. Taxact login tax return taxact login page taxact sign page   If, in any year after the year you claim the special depreciation allowance for qualified disaster assistance property, the property ceases to be used in the applicable disaster area, you may have to recapture as ordinary income the excess benefit you received from claiming the special depreciation allowance. Taxact login tax return taxact login page taxact sign page   For additional guidance, see Notice 2008-67 on page 307 of Internal Revenue Bulletin 2008-32. Taxact login tax return taxact login page taxact sign page Prev  Up  Next   Home   More Online Publications
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Where to File Tax Returns - Addresses Listed by Return Type

In order to determine where to file your return, identify the form number for which you need the information and follow the numerical or alpha-numerical links below to your specific Where to File information.

Examples for a return beginning with a number:
To find Form 3520, Annual Return to Report Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts, choose the number 3; for Form 706, United States Estate (and Generation-Skipping Transfer) Tax Return, choose the number 7.

Example for a return beginning with an alpha character:
To find Form SS-4, Application for Employer Identification Number, choose the alpha S.

 
Find forms that begin with:
 
Numbers
 
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Note: Some addresses may not match a particular instruction booklet or publication. This is due to changes being made after the publication was printed. This site will reflect the most current Where to File Addresses for use during Calendar Year 2013.


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Where to File Addresses for Taxpayers and Tax Professionals by State 

 

Page Last Reviewed or Updated: 09-Dec-2013

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Taxact login tax return taxact login page taxact sign page Publication 538 - Introductory Material Table of Contents IntroductionOrdering forms and publications. Taxact login tax return taxact login page taxact sign page Tax Questions. Taxact login tax return taxact login page taxact sign page Reminders Useful Items - You may want to see: Introduction Every taxpayer (individuals, business entities, etc. Taxact login tax return taxact login page taxact sign page ) must figure taxable income on the basis of an annual accounting period called a tax year. Taxact login tax return taxact login page taxact sign page The calendar year is the most common tax year. Taxact login tax return taxact login page taxact sign page Other tax years include a fiscal year and a short tax year. Taxact login tax return taxact login page taxact sign page Each taxpayer must use a consistent accounting method, which is a set of rules for determining when to report income and expenses. Taxact login tax return taxact login page taxact sign page The most commonly used accounting methods are the cash method and the accrual method. Taxact login tax return taxact login page taxact sign page Under the cash method, you generally report income in the tax year you receive it, and deduct expenses in the tax year in which you pay them. Taxact login tax return taxact login page taxact sign page Under the accrual method, you generally report income in the tax year you earn it, regardless of when payment is received. Taxact login tax return taxact login page taxact sign page You deduct expenses in the tax year you incur them, regardless of when payment is made. Taxact login tax return taxact login page taxact sign page This publication explains some of the rules for accounting periods and accounting methods. Taxact login tax return taxact login page taxact sign page In some cases, you may have to refer to other sources for a more in-depth explanation of the topic. Taxact login tax return taxact login page taxact sign page Comments and suggestions. Taxact login tax return taxact login page taxact sign page   We welcome your comments about this publication and your suggestions for future editions. Taxact login tax return taxact login page taxact sign page   You can write to us at the following address: Internal Revenue Service Business, Exempt Organization and International Forms and Publications Branch SE:W:CAR:MP:T:B 1111 Constitution Ave. Taxact login tax return taxact login page taxact sign page NW, IR-6526 Washington, DC 20224   We respond to many letters by telephone. Taxact login tax return taxact login page taxact sign page Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your correspondence. Taxact login tax return taxact login page taxact sign page   You can email us at taxforms@irs. Taxact login tax return taxact login page taxact sign page gov. Taxact login tax return taxact login page taxact sign page Please put “Publications Comment” on the subject line. Taxact login tax return taxact login page taxact sign page You can also send us comments from www. Taxact login tax return taxact login page taxact sign page irs. Taxact login tax return taxact login page taxact sign page gov/formspubs. Taxact login tax return taxact login page taxact sign page Select “Comment on Tax Forms and Publications” under “More information. Taxact login tax return taxact login page taxact sign page ”   Although we cannot respond individually to each email, we do appreciate your feedback and will consider your comments as we revise our tax products. Taxact login tax return taxact login page taxact sign page Ordering forms and publications. Taxact login tax return taxact login page taxact sign page   Visit www. Taxact login tax return taxact login page taxact sign page irs. Taxact login tax return taxact login page taxact sign page gov/formspubs to download forms and publications, call 1-800–829–3676, or write to the address below and receive a response within 10 days after your request is received. Taxact login tax return taxact login page taxact sign page Internal Revenue Service 1201 N. Taxact login tax return taxact login page taxact sign page Mitsubishi Motorway Bloomington, IL 61705-6613 Tax Questions. Taxact login tax return taxact login page taxact sign page   If you have a tax question, check the information available on IRS. Taxact login tax return taxact login page taxact sign page gov or call 1-800-829-1040. Taxact login tax return taxact login page taxact sign page We cannot answer tax questions sent to the above address. Taxact login tax return taxact login page taxact sign page Reminders Photographs of missing children. Taxact login tax return taxact login page taxact sign page  The Internal Revenue Service is a proud partner with the National Center for Missing and Exploited Children. Taxact login tax return taxact login page taxact sign page Photographs of missing children selected by the Center may appear in this publication on pages that would otherwise be blank. Taxact login tax return taxact login page taxact sign page You can help bring these children home by looking at the photographs and calling 1-800-THE-LOST (1-800-843-5678) if you recognize a child. Taxact login tax return taxact login page taxact sign page Useful Items - You may want to see: Publication 537 Installment Sales 541 Partnerships 542 Corporations Form (and Instructions) 1128 Application To Adopt, Change, or Retain a Tax Year 2553 Election by a Small Business Corporation 3115 Application for Change in Accounting Method 8716 Election To Have a Tax Year Other Than a Required Tax Year See Ordering forms and publications, earlier for information about getting these publications and forms. Taxact login tax return taxact login page taxact sign page Prev  Up  Next   Home   More Online Publications