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2010 1040 Form

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2010 1040 Form

2010 1040 form 4. 2010 1040 form   Limit on Elective Deferrals Table of Contents Excess elective deferrals. 2010 1040 form General Limit 15-Year RuleYears of Service Figuring the Limit on Elective DeferralsExample The second and final component of MAC is the limit on elective deferrals. 2010 1040 form This is a limit on the amount of contributions that can be made to your account through a salary reduction agreement. 2010 1040 form A salary reduction agreement is an agreement between you and your employer that allows for a portion of your compensation to be directly invested in a 403(b) account on your behalf. 2010 1040 form You can enter into more than one salary reduction agreement during a year. 2010 1040 form More than one 403(b) account. 2010 1040 form If, for any year, elective deferrals are contributed to more than one 403(b) account for you (whether or not with the same employer), you must combine all the elective deferrals to determine whether the total is more than the limit for that year. 2010 1040 form 403(b) plan and another retirement plan. 2010 1040 form If, during the year, contributions in the form of elective deferrals are made to other retirement plans on your behalf, you must combine all of the elective deferrals to determine if they are more than your limit on elective deferrals. 2010 1040 form The limit on elective deferrals applies to amounts contributed to: 401(k) plans, to the extent excluded from income, Roth contribution programs, Section 501(c)(18) plans, to the extent excluded from income, Savings incentive match plan for employees (SIMPLE plans), Simplified employee pension (SEP) plans, and All 403(b) plans. 2010 1040 form Roth contribution program. 2010 1040 form   Your 403(b) plan may allow you to designate all or a portion of your elective deferrals as Roth contributions. 2010 1040 form Elective deferrals designated as Roth contributions must be maintained in a separate Roth account and are not excludable from your gross income. 2010 1040 form   The maximum amount of contributions allowed under a Roth contribution program is your limit on elective deferrals, less your elective deferrals not designated as Roth contributions. 2010 1040 form For more information on the Roth contribution program, see Publication 560, Retirement Plans for Small Business. 2010 1040 form Excess elective deferrals. 2010 1040 form   If the amount contributed is more than the allowable limit, you must include the excess that is not a Roth contribution in your gross income for the year contributed. 2010 1040 form General Limit Under the general limit on elective deferrals, the most that can be contributed to your 403(b) account through a salary reduction agreement is $17,500 for 2013 and 2014. 2010 1040 form This limit applies without regard to community property laws. 2010 1040 form 15-Year Rule If you have at least 15 years of service with an educational organization (such as a public or private school), hospital, home health service agency, health and welfare service agency, church, or convention or association of churches (or associated organization), the limit on elective deferrals to your 403(b) account is increased by the least of: $3,000, $15,000, reduced by the sum of: The additional pre-tax elective deferrals made in prior years because of this rule, plus The aggregate amount of designated Roth contributions permitted for prior years because of this rule, or $5,000 times the number of your years of service for the organization, minus the total elective deferrals made by your employer on your behalf for earlier years. 2010 1040 form If you qualify for the 15-year rule, your elective deferrals under this limit can be as high as $20,500 for 2013 and 2014. 2010 1040 form To determine whether you have 15 years of service with your employer, see Years of Service , next. 2010 1040 form Years of Service To determine if you are eligible for the increased limit on elective deferrals, you will first need to figure your years of service. 2010 1040 form How you figure your years of service depends on whether you were a full-time or a part-time employee, whether you worked for the full year or only part of the year, and whether you have worked for your employer for an entire year. 2010 1040 form You must figure years of service for each year during which you worked for the employer who is maintaining your 403(b) account. 2010 1040 form If more than one employer maintains a 403(b) account for you in the same year, you must figure years of service separately for each employer. 2010 1040 form Definition Your years of service are the total number of years you have worked as a full time employee for the employer maintaining your 403(b) account as of the end of the year. 2010 1040 form Figuring Your Years of Service Take the following rules into account when figuring your years of service. 2010 1040 form Status of employer. 2010 1040 form   Your years of service include only periods during which your employer was a qualified employer. 2010 1040 form Your plan administrator can tell you whether or not your employer was qualified during all your periods of service. 2010 1040 form Service with one employer. 2010 1040 form   Generally, you cannot count service for any employer other than the one who maintains your 403(b) account. 2010 1040 form Church employee. 2010 1040 form   If you are a church employee, treat all of your years of service with related church organizations as years of service with the same employer. 2010 1040 form For more information about church employees, see chapter 5. 2010 1040 form Self-employed ministers. 2010 1040 form   If you are a self-employed minister, your years of service include full and part years in which you have been treated as employed by a tax-exempt organization that is a qualified employer. 2010 1040 form Total years of service. 2010 1040 form   When figuring prior years of service, figure each year individually and then add the individual years of service to determine your total years of service. 2010 1040 form Example. 2010 1040 form The annual work period for full-time teachers employed by ABC Public Schools is September through December and February through May. 2010 1040 form Marsha began working with ABC schools in September 2009. 2010 1040 form She has always worked full-time for each annual work period. 2010 1040 form At the end of 2013, Marsha had 4. 2010 1040 form 5 years of service with ABC Public Schools, as shown in Table 4-1. 2010 1040 form Table 4-1. 2010 1040 form Marsha's Years of Service Note. 2010 1040 form This table shows how Marsha figures her years of service, as explained in the previous example. 2010 1040 form Year Period Worked Portion of Work Period Years of Service 2009 Sept. 2010 1040 form –Dec. 2010 1040 form . 2010 1040 form 5 year . 2010 1040 form 5 year 2010 Feb. 2010 1040 form –May . 2010 1040 form 5 year 1 year Sept. 2010 1040 form –Dec. 2010 1040 form . 2010 1040 form 5 year 2011 Feb. 2010 1040 form –May . 2010 1040 form 5 year 1 year Sept. 2010 1040 form –Dec. 2010 1040 form . 2010 1040 form 5 year 2012 Feb. 2010 1040 form –May . 2010 1040 form 5 year 1 year Sept. 2010 1040 form –Dec. 2010 1040 form . 2010 1040 form 5 year 2013 Feb. 2010 1040 form –May . 2010 1040 form 5 year 1 year Sept. 2010 1040 form –Dec. 2010 1040 form . 2010 1040 form 5 year Total years of service 4. 2010 1040 form 5 years Full-time or part-time. 2010 1040 form   To figure your years of service, you must analyze each year individually and determine whether you worked full-time for the full year or something other than full-time. 2010 1040 form When determining whether you worked full-time or something other than full-time, use your employer's annual work period as the standard. 2010 1040 form Employer's annual work period. 2010 1040 form   Your employer's annual work period is the usual amount of time an individual working full-time in a specific position is required to work. 2010 1040 form Generally, this period of time is expressed in days, weeks, months, or semesters, and can span 2 calendar years. 2010 1040 form Note. 2010 1040 form You cannot accumulate more than 1 year of service in a 12-month period. 2010 1040 form Example. 2010 1040 form All full-time teachers at ABC Public Schools are required to work both the September through December semester and the February through May semester. 2010 1040 form Therefore, the annual work period for full-time teachers employed by ABC Public Schools is September through December and February through May. 2010 1040 form Teachers at ABC Public Schools who work both semesters in the same calendar year are considered working a full year of service in that calendar year. 2010 1040 form Full-Time Employee for the Full Year Count each full year during which you were employed full-time as 1 year of service. 2010 1040 form In determining whether you were employed full-time, compare the amount of work you were required to perform with the amount of work normally required of others who held the same position with the same employer and who generally received most of their pay from the position. 2010 1040 form How to compare. 2010 1040 form   You can use any method that reasonably and accurately reflects the amount of work required. 2010 1040 form For example, if you are a teacher, you can use the number of hours of classroom instruction as a measure of the amount of work required. 2010 1040 form   In determining whether positions with the same employer are the same, consider all of the facts and circumstances concerning the positions, including the work performed, the methods by which pay is determined, and the descriptions (or titles) of the positions. 2010 1040 form Example. 2010 1040 form An assistant professor employed in the English department of a university will be considered a full-time employee if the amount of work that he or she is required to perform is the same as the amount of work normally required of assistant professors of English at that university who get most of their pay from that position. 2010 1040 form   If no one else works for your employer in the same position, compare your work with the work normally required of others who held the same position with similar employers or similar positions with your employer. 2010 1040 form Full year of service. 2010 1040 form   A full year of service for a particular position means the usual annual work period of anyone employed full-time in that general type of work at that place of employment. 2010 1040 form Example. 2010 1040 form If a doctor works for a hospital 12 months of a year except for a 1-month vacation, the doctor will be considered as employed for a full year if the other doctors at that hospital also work 11 months of the year with a 1-month vacation. 2010 1040 form Similarly, if the usual annual work period at a university consists of the fall and spring semesters, an instructor at that university who teaches these semesters will be considered as working a full year. 2010 1040 form Other Than Full-Time for the Full Year If, during any year, you were employed full-time for only part of your employer's annual work period, part-time for the entire annual work period, or part-time for only part of the work period, your year of service for that year is a fraction of your employer's annual work period. 2010 1040 form Full-time for part of the year. 2010 1040 form   If, during a year, you were employed full-time for only part of your employer's annual work period, figure the fraction for that year as follows: The numerator (top number) is the number of weeks, months, or semesters you were a full-time employee. 2010 1040 form The denominator (bottom number) is the number of weeks, months, or semesters considered the normal annual work period for the position. 2010 1040 form Example. 2010 1040 form Jason was employed as a full-time instructor by a local college for the 4 months of the 2013 spring semester (February 2013 through May 2013). 2010 1040 form The annual work period for the college is 8 months (February through May and July through October). 2010 1040 form Given these facts, Jason was employed full-time for part of the annual work period and provided ½ of a year of service. 2010 1040 form Jason's years of service computation for 2013 is as follows: Number of months Jason worked = 4 = 1 Number of months in annual work period 8 2 Part-time for the full year. 2010 1040 form   If, during a year, you were employed part-time for the employer's entire annual work period, you figure the fraction for that year as follows: The numerator (top number) is the number of hours or days you worked. 2010 1040 form The denominator (bottom number) is the number of hours or days normally required of someone holding the same position who works full-time. 2010 1040 form Example. 2010 1040 form Vance teaches one course at a local medical school. 2010 1040 form He teaches 3 hours per week for two semesters. 2010 1040 form Other faculty members at the same school teach 9 hours per week for two semesters. 2010 1040 form The annual work period of the medical school is two semesters. 2010 1040 form An instructor teaching 9 hours a week for two semesters is considered a full-time employee. 2010 1040 form Given these facts, Vance has worked part-time for a full annual work period. 2010 1040 form Vance has completed 1/3 of a year of service, figured as shown below. 2010 1040 form Number of hours per week Vance worked = 3 = 1 Number of hours per week considered full-time 9 3 Part-time for part of the year. 2010 1040 form   If, during any year, you were employed part-time for only part of your employer's annual work period, you figure your fraction for that year by multiplying two fractions. 2010 1040 form   Figure the first fraction as though you had worked full-time for part of the annual work period. 2010 1040 form The fraction is as follows: The numerator (top number) is the number of weeks, months, or semesters you were a full-time employee. 2010 1040 form The denominator (bottom number) is the number of weeks, months, or semesters considered the normal annual work period for the position. 2010 1040 form   Figure the second fraction as though you had worked part-time for the entire annual work period. 2010 1040 form The fraction is as follows: The numerator (top number) is the number of hours or days you worked. 2010 1040 form The denominator (bottom number) is the number of hours or days normally required of someone holding the same position who works full-time. 2010 1040 form   Once you have figured these two fractions, multiply them together to determine the fraction representing your partial year of service for the year. 2010 1040 form Example. 2010 1040 form Maria, an attorney, teaches a course for one semester at a law school. 2010 1040 form She teaches 3 hours per week. 2010 1040 form The annual work period for teachers at the school is two semesters. 2010 1040 form All full-time instructors at the school are required to teach 12 hours per week. 2010 1040 form Based on these facts, Maria is employed part-time for part of the annual work period. 2010 1040 form Her year of service for this year is determined by multiplying two fractions. 2010 1040 form Her computation is as follows: Maria's first fraction Number of semesters Maria worked = 1 Number of semesters in annual work period 2 Maria's second fraction Number of hours Maria worked per week = 3 = 1 Number of hours per week considered full-time 12 4 Maria would multiply these fractions to obtain the fractional year of service: 1 x 1 = 1         2 4 8         Figuring the Limit on Elective Deferrals You can use Part II of Worksheet 1 in chapter 9 to figure the limit on elective deferrals. 2010 1040 form Example Floyd has figured his limit on annual additions. 2010 1040 form The only other component needed before he can determine his MAC for 2014 is his limit on elective deferrals. 2010 1040 form Figuring Floyd's limit on elective deferrals. 2010 1040 form   Floyd has been employed with his current employer for less than 15 years. 2010 1040 form He is not eligible for the special 15-year increase. 2010 1040 form Therefore, his limit on elective deferrals for 2014 is $17,500 as shown in Table 4-2. 2010 1040 form Floyd's employer will not make any nonelective contributions to his 403(b) account and Floyd will not make any after-tax contributions. 2010 1040 form Additionally, Floyd's employer does not offer a Roth contribution program. 2010 1040 form Figuring Floyd's MAC Floyd has determined that his limit on annual additions for 2014 is $52,000 and his limit on elective deferrals is $17,500. 2010 1040 form Because elective deferrals are the only contributions made to Floyd's account, the maximum amount that can be contributed to a 403(b) account on Floyd's behalf in 2014 is $17,500, the lesser of both limits. 2010 1040 form Table 4-2. 2010 1040 form Worksheet 1. 2010 1040 form Maximum Amount Contributable (MAC) Note. 2010 1040 form Use this worksheet to figure your MAC. 2010 1040 form Part I. 2010 1040 form Limit on Annual Additions     1. 2010 1040 form Enter your includible compensation for your most recent year of service 1. 2010 1040 form $70,475 2. 2010 1040 form Maximum: For 2013 enter $51,000 For 2014 enter $52,000 2. 2010 1040 form 52,000 3. 2010 1040 form Enter the lesser of line 1 or line 2. 2010 1040 form This is your limit on annual additions 3. 2010 1040 form 52,000   Caution: If you had only nonelective contributions, skip Part II and enter the amount from line 3 on line 18. 2010 1040 form     Part II. 2010 1040 form Limit on Elective Deferrals     4. 2010 1040 form Maximum contribution: For 2013, enter $17,500 For 2014, enter $17,500 4. 2010 1040 form 17,500   Note. 2010 1040 form If you have at least 15 years of service with a qualifying organization, complete lines 5 through 17. 2010 1040 form If not, enter zero (-0-) on line 16 and go to line 17. 2010 1040 form     5. 2010 1040 form Amount per year of service 5. 2010 1040 form 5,000 6. 2010 1040 form Enter your years of service 6. 2010 1040 form   7. 2010 1040 form Multiply line 5 by line 6 7. 2010 1040 form   8. 2010 1040 form Enter the total of all elective deferrals made for you by the qualifying organization for prior years 8. 2010 1040 form   9. 2010 1040 form Subtract line 8 from line 7. 2010 1040 form If zero or less, enter zero (-0-) 9. 2010 1040 form   10. 2010 1040 form Maximum increase in limit for long service 10. 2010 1040 form 15,000 11. 2010 1040 form Enter the total of additional pre-tax elective deferrals made in prior years under the 15-year rule 11. 2010 1040 form   12. 2010 1040 form Enter the aggregate amount of all designated Roth contributions permitted for prior years under the 15-year rule 12. 2010 1040 form   13. 2010 1040 form Add lines 11 and 12 13. 2010 1040 form   14. 2010 1040 form Subtract line 13 from line 10 14. 2010 1040 form   15. 2010 1040 form Maximum additional contributions 15. 2010 1040 form 3,000 16. 2010 1040 form Enter the least of lines 9, 14, or 15. 2010 1040 form This is your increase in the limit for long service 16. 2010 1040 form -0- 17. 2010 1040 form Add lines 4 and 16. 2010 1040 form This is your limit on elective deferrals 17. 2010 1040 form 17,500   Part III. 2010 1040 form Maximum Amount Contributable     18. 2010 1040 form If you had only nonelective contributions, enter the amount from line 3. 2010 1040 form This is your MAC. 2010 1040 form    If you had only elective deferrals, enter the lesser of lines 3 or 17. 2010 1040 form This is your MAC. 2010 1040 form    If you had both elective deferrals and nonelective contributions, enter the amount from line 3. 2010 1040 form This is your MAC. 2010 1040 form (Use the amount on line 17 to determine if you have excess elective deferrals as explained in chapter 7. 2010 1040 form ) 18. 2010 1040 form $17,500 Prev  Up  Next   Home   More 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Contact My Local Office in Maryland

Face-to-face Tax Help

IRS Taxpayer Assistance Centers (TACs) are your source for personal tax help when you believe your tax issue can only be handled face-to-face. No appointment is necessary.

Keep in mind, many questions can be resolved online without waiting in line. Through IRS.gov you can:
• Set up a payment plan.
• Get a transcript of your tax return.
• Make a payment.
• Check on your refund.
• Find answers to many of your tax questions.

We are now referring all requests for tax return preparation services to other available resources. You can take advantage of free tax preparation through Free File, Free File Fillable Forms or through a volunteer site in your community. To find the nearest volunteer site location or to get more information about Free File, go to the top of the page and enter “Free Tax Help” in the Search box.

If you have a tax account issues and feel that it requires talking with someone face-to-face, visit your local TAC.

Caution:  Many of our offices are located in Federal Office Buildings. These buildings may not allow visitors to bring in cell phones with camera capabilities.

Multilingual assistance is available in every office. Hours of operation are subject to change.

Before visiting your local office click on "Services Provided" in the chart below to see what services are available. Services are limited and not all services are available at every TAC office and may vary from site to site. You can get these services on a walk-in basis.

City Street Address Days/Hours of Service Telephone*
Annapolis 190 Admiral Cochrane Dr.
Annapolis, MD 21401

Monday-Friday - 8:30 a.m.- 4:30 p.m.
(Closed for lunch 12:00 noon - 1:00 p.m.)

 

**This office will be open until 6:00 p.m. on 4/14 & 4/15**

 

Services Provided

(301) 695-7615
Baltimore 31 Hopkins Plaza
Baltimore, MD 21201

Monday-Friday - 8:30 a.m.- 4:30 p.m.


Services Provided

(410) 962-7969 
Frederick  201 Thomas- Johnson Dr.
Frederick, MD 21702 

Monday-Friday - 8:30 a.m.- 4:30 p.m.
(Closed for lunch 1:00 p.m. - 2:00 p.m.) 

 

Services Provided

(301) 695-7615 
Hagerstown  1260 Maryland Ave.
Hagerstown, MD 21740 

Monday-Friday - 8:30 a.m.- 4:30 p.m.
(Closed for lunch 12:30 p.m. - 1:30 p.m.) 

 

Services Provided

(301) 797-6624 
Landover  8401 Corporate Dr.
Landover, MD 20785 

Monday-Friday - 8:30 a.m.- 4:30 p.m. 
(Closed for lunch 12:30 p.m. - 1:30 p.m.)


Services Provided

(240) 613-7952 
LaVale  14701 National Highway 
LaVale, MD 21502 

Monday-Friday - 8:30 a.m.- 2:30 p.m.
(Closed for lunch 11:30 a.m. - 12:30 p.m.)
 

Services Provided

(301) 729-6397 
Salisbury  212 West Main St.
Salisbury, MD 21801 

Monday-Friday - 8:30 a.m.- 4:30 p.m. 


Services Provided

(410) 677-6718
Wheaton  11510 Georgia Ave.
Wheaton, MD 20902 

Monday-Friday - 8:30 a.m.- 4:30 p.m. 

 

Services Provided

(240) 613-8976 

* Note: The phone numbers in the chart above are not toll-free for all locations. When you call, you will reach a recorded business message with information about office hours, locations and services provided in that office. If face-to-face assistance is not a priority for you, you may also get help with IRS letters or resolve tax account issues by phone, toll free at 1-800-829-1040 (individuals) or 1-800-829-4933 (businesses).

For information on where to file your tax return please see Where to File Addresses.

The Taxpayer Advocate Service: Call (443) 853-6000 in Baltimore or 1-877-777-4778 elsewhere, or see  Publication 1546, The Taxpayer Advocate Service of the IRS. For further information, see Tax Topic 104.

Partnerships

IRS and organizations all over the country are partnering to assist taxpayers. Through these partnerships, organizations are also achieving their own goals. These mutually beneficial partnerships are strengthening outreach efforts and bringing education and assistance to millions.

For more information about these programs for individuals and families, contact the Stakeholder Partnerships, Education and Communication Office at:

Internal Revenue Service
Fallon Federal Building
31 Hopkins Plaza, Room 1432
Baltimore, MD 21201

For more information about these programs for businesses, your local Stakeholder Liaison office establishes relationships with organizations representing small business and self-employed taxpayers. They provide information about the policies, practices and procedures the IRS uses to ensure compliance with the tax laws. To establish a relationship with us, use this list to find a contact in your state:

Stakeholder Liaison (SL) Phone Numbers for Organizations Representing Small Businesses and Self-employed Taxpayers.

Page Last Reviewed or Updated: 28-Mar-2014

The 2010 1040 Form

2010 1040 form Internal Revenue Bulletin:  2010-9  March 1, 2010  Rev. 2010 1040 form Proc. 2010 1040 form 2010-18 Table of Contents SECTION 1. 2010 1040 form PURPOSE SECTION 2. 2010 1040 form BACKGROUND SECTION 3. 2010 1040 form SCOPE SECTION 4. 2010 1040 form APPLICATION SECTION 5. 2010 1040 form EFFECTIVE DATE SECTION 6. 2010 1040 form DRAFTING INFORMATION SECTION 1. 2010 1040 form PURPOSE This revenue procedure provides: (1) limitations on depreciation deductions for owners of passenger automobiles first placed in service by the taxpayer during calendar year 2010, including a separate table of limitations on depreciation deductions for trucks and vans; and (2) the amounts to be included in income by lessees of passenger automobiles first leased by the taxpayer during calendar year 2010, including a separate table of inclusion amounts for lessees of trucks and vans. 2010 1040 form The tables detailing these depreciation limitations and lessee inclusion amounts reflect the automobile price inflation adjustments required by § 280F(d)(7) of the Internal Revenue Code. 2010 1040 form SECTION 2. 2010 1040 form BACKGROUND . 2010 1040 form 01 For owners of passenger automobiles, § 280F(a) imposes dollar limitations on the depreciation deduction for the year the taxpayer places the passenger automobile in service and for each succeeding year. 2010 1040 form Section 280F(d)(7) requires the amounts allowable as depreciation deductions to be increased by a price inflation adjustment amount for passenger automobiles placed in service after 1988. 2010 1040 form The method of calculating this price inflation amount for trucks and vans placed in service in or after calendar year 2003 uses a different CPI “automobile component” (the “new trucks” component) than that used in the price inflation amount calculation for other passenger automobiles (the “new cars” component), resulting in somewhat higher depreciation deductions for trucks and vans. 2010 1040 form This change reflects the higher rate of price inflation for trucks and vans since 1988. 2010 1040 form . 2010 1040 form 02 Section 280F(c) requires a reduction in the deduction allowed to the lessee of a leased passenger automobile. 2010 1040 form The reduction must be substantially equivalent to the limitations on the depreciation deductions imposed on owners of passenger automobiles. 2010 1040 form Under § 1. 2010 1040 form 280F-7(a) of the Income Tax Regulations, this reduction requires a lessee to include in gross income an inclusion amount determined by applying a formula to the amount obtained from a table. 2010 1040 form One table applies to lessees of trucks and vans and another table applies to all other passenger automobiles. 2010 1040 form Each table shows inclusion amounts for a range of fair market values for each taxable year after the passenger automobile is first leased. 2010 1040 form SECTION 3. 2010 1040 form SCOPE . 2010 1040 form 01 The limitations on depreciation deductions in section 4. 2010 1040 form 01(2) of this revenue procedure apply to passenger automobiles (other than leased passenger automobiles) that are placed in service by the taxpayer in calendar year 2010, and continue to apply for each taxable year that the passenger automobile remains in service. 2010 1040 form . 2010 1040 form 02 The tables in section 4. 2010 1040 form 02 of this revenue procedure apply to leased passenger automobiles for which the lease term begins during calendar year 2010. 2010 1040 form Lessees of these passenger automobiles must use these tables to determine the inclusion amount for each taxable year during which the passenger automobile is leased. 2010 1040 form See Rev. 2010 1040 form Proc. 2010 1040 form 2005-13, 2005-1 C. 2010 1040 form B. 2010 1040 form 759, for passenger automobiles first leased before calendar year 2006; Rev. 2010 1040 form Proc. 2010 1040 form 2006-18, 2006-1 C. 2010 1040 form B. 2010 1040 form 645, for passenger automobiles first leased during calendar year 2006; Rev. 2010 1040 form Proc. 2010 1040 form 2007-30, 2007-1 C. 2010 1040 form B. 2010 1040 form 1104, for passenger automobiles first leased during calendar year 2007; Rev. 2010 1040 form Proc. 2010 1040 form 2008-22, 2008-12 I. 2010 1040 form R. 2010 1040 form B. 2010 1040 form 658, for passenger automobiles first leased during calendar year 2008; and Rev. 2010 1040 form Proc. 2010 1040 form 2009-24, 2009-17 I. 2010 1040 form R. 2010 1040 form B. 2010 1040 form 885, for passenger automobiles first leased during calendar year 2009. 2010 1040 form SECTION 4. 2010 1040 form APPLICATION . 2010 1040 form 01 Limitations on Depreciation Deductions for Certain Automobiles. 2010 1040 form (1) Amount of the inflation adjustment. 2010 1040 form (a) Passenger automobiles (other than trucks or vans). 2010 1040 form Under § 280F(d)(7)(B)(i), the automobile price inflation adjustment for any calendar year is the percentage (if any) by which the CPI automobile component for October of the preceding calendar year exceeds the CPI automobile component for October 1987. 2010 1040 form The term “CPI automobile component” is defined in § 280F(d)(7)(B)(ii) as the “automobile component” of the Consumer Price Index for all Urban Consumers published by the Department of Labor. 2010 1040 form The new car component of the CPI was 115. 2010 1040 form 2 for October 1987 and 137. 2010 1040 form 851 for October 2009. 2010 1040 form The October 2009 index exceeded the October 1987 index by 22. 2010 1040 form 651. 2010 1040 form Therefore, the automobile price inflation adjustment for 2010 for passenger automobiles (other than trucks and vans) is 19. 2010 1040 form 66 percent (22. 2010 1040 form 651/115. 2010 1040 form 2 x 100%). 2010 1040 form The dollar limitations in § 280F(a) are multiplied by a factor of 0. 2010 1040 form 1966, and the resulting increases, after rounding to the nearest $100, are added to the 1988 limitations to give the depreciation limitations applicable to passenger automobiles (other than trucks and vans) for calendar year 2010. 2010 1040 form This adjustment applies to all passenger automobiles (other than trucks and vans) that are first placed in service in calendar year 2010. 2010 1040 form (b) Trucks and vans. 2010 1040 form To determine the dollar limitations for trucks and vans first placed in service during calendar year 2010, the new truck component of the CPI is used instead of the new car component. 2010 1040 form The new truck component of the CPI was 112. 2010 1040 form 4 for October 1987 and 140. 2010 1040 form 897 for October 2009. 2010 1040 form The October 2009 index exceeded the October 1987 index by 28. 2010 1040 form 497. 2010 1040 form Therefore, the automobile price inflation adjustment for 2010 for trucks and vans is 25. 2010 1040 form 35 percent (28. 2010 1040 form 497/112. 2010 1040 form 4 x 100%). 2010 1040 form The dollar limitations in § 280F(a) are multiplied by a factor of 0. 2010 1040 form 2535, and the resulting increases, after rounding to the nearest $100, are added to the 1988 limitations to give the depreciation limitations for trucks and vans. 2010 1040 form This adjustment applies to all trucks and vans that are first placed in service in calendar year 2010. 2010 1040 form (2) Amount of the limitation. 2010 1040 form Tables 1 and 2 contain the dollar amount of the depreciation limitation for each taxable year for passenger automobiles a taxpayer places in service in calendar year 2010. 2010 1040 form Use Table 1 for a passenger automobile (other than a truck or van) and Table 2 for a truck or van placed in service in calendar year 2010. 2010 1040 form REV. 2010 1040 form PROC. 2010 1040 form 2010-18 TABLE 1 DEPRECIATION LIMITATIONS FOR PASSENGER AUTOMOBILES (THAT ARE NOT TRUCKS OR VANS) PLACED IN SERVICE IN CALENDAR YEAR 2010 Tax Year Amount 1st Tax Year $3,060 2nd Tax Year $4,900 3rd Tax Year $2,950 Each Succeeding Year $1,775 REV. 2010 1040 form PROC. 2010 1040 form 2010-18 TABLE 2 DEPRECIATION LIMITATIONS FOR TRUCKS AND VANS PLACED IN SERVICE IN CALENDAR YEAR 2010 Tax Year Amount 1st Tax Year $3,160 2nd Tax Year $5,100 3rd Tax Year $3,050 Each Succeeding Year $1,875 . 2010 1040 form 02 Inclusions in Income of Lessees of Passenger Automobiles. 2010 1040 form A taxpayer must follow the procedures in § 1. 2010 1040 form 280F-7(a) for determining the inclusion amounts for passenger automobiles first leased in calendar year 2010. 2010 1040 form In applying these procedures, lessees of passenger automobiles other than trucks and vans should use Table 3 of this revenue procedure, while lessees of trucks and vans should use Table 4 of this revenue procedure. 2010 1040 form REV. 2010 1040 form PROC. 2010 1040 form 2010-18 TABLE 3 DOLLAR AMOUNTS FOR PASSENGER AUTOMOBILES (THAT ARE NOT TRUCKS OR VANS) WITH A LEASE TERM BEGINNING IN CALENDAR YEAR 2010 Fair Market Value of Passenger Automobile Tax Year During Lease Over Not Over 1st 2nd 3rd 4th 5th & Later $16,700 $17,000 3 7 10 11 14 17,000 17,500 4 8 13 15 16 17,500 18,000 5 10 16 19 21 18,000 18,500 6 13 18 23 26 18,500 19,000 7 15 22 26 31 19,000 19,500 8 17 25 30 35 19,500 20,000 9 19 29 34 39 20,000 20,500 10 21 32 38 44 20,500 21,000 11 23 35 42 48 21,000 21,500 12 26 38 45 53 21,500 22,000 13 28 41 50 57 22,000 23,000 14 31 46 56 63 23,000 24,000 16 36 52 63 73 24,000 25,000 18 40 59 71 81 25,000 26,000 20 44 66 78 90 26,000 27,000 22 49 71 86 100 27,000 28,000 24 53 78 94 108 28,000 29,000 26 57 85 101 118 29,000 30,000 28 61 92 109 126 30,000 31,000 30 66 97 117 135 31,000 32,000 32 70 104 125 144 32,000 33,000 34 74 111 132 153 33,000 34,000 36 79 117 140 161 34,000 35,000 38 83 123 148 171 35,000 36,000 40 87 130 156 179 36,000 37,000 42 92 136 163 188 37,000 38,000 44 96 143 170 198 38,000 39,000 46 100 149 179 206 39,000 40,000 48 105 155 186 215 40,000 41,000 50 109 162 194 224 41,000 42,000 52 113 169 201 233 42,000 43,000 54 118 174 210 241 43,000 44,000 56 122 181 217 251 44,000 45,000 58 126 188 225 259 45,000 46,000 60 131 194 232 269 46,000 47,000 61 135 201 240 277 47,000 48,000 63 140 207 248 286 48,000 49,000 65 144 213 256 295 49,000 50,000 67 148 220 263 304 50,000 51,000 69 153 226 271 313 51,000 52,000 71 157 232 279 322 52,000 53,000 73 161 239 287 331 53,000 54,000 75 166 245 294 340 54,000 55,000 77 170 252 302 348 55,000 56,000 79 174 258 310 358 56,000 57,000 81 178 265 318 366 57,000 58,000 83 183 271 325 375 58,000 59,000 85 187 278 333 384 59,000 60,000 87 191 284 341 393 60,000 62,000 90 198 294 352 406 62,000 64,000 94 207 306 368 424 64,000 66,000 98 215 320 382 443 66,000 68,000 102 224 332 398 460 68,000 70,000 106 232 346 413 478 70,000 72,000 110 241 358 429 496 72,000 74,000 114 250 371 444 513 74,000 76,000 118 258 384 460 531 76,000 78,000 122 267 396 476 549 78,000 80,000 126 276 409 491 566 80,000 85,000 132 291 432 518 598 85,000 90,000 142 313 464 556 643 90,000 95,000 152 334 497 594 687 95,000 100,000 162 356 528 634 731 100,000 110,000 177 388 577 691 798 110,000 120,000 196 432 641 768 887 120,000 130,000 216 475 705 846 976 130,000 140,000 236 518 770 922 1,065 140,000 150,000 256 561 834 1,000 1,154 150,000 160,000 275 605 898 1,077 1,243 160,000 170,000 295 648 963 1,153 1,333 170,000 180,000 315 691 1,027 1,231 1,421 180,000 190,000 334 735 1,091 1,308 1,510 190,000 200,000 354 778 1,155 1,386 1,599 200,000 210,000 374 821 1,220 1,462 1,688 210,000 220,000 393 865 1,284 1,539 1,777 220,000 230,000 413 908 1,348 1,617 1,866 230,000 240,000 433 951 1,413 1,693 1,956 240,000 and up 453 995 1,476 1,771 2,044 REV. 2010 1040 form PROC. 2010 1040 form 2010-18 TABLE 4 DOLLAR AMOUNTS FOR TRUCKS AND VANS WITH A LEASE TERM BEGINNING IN CALENDAR YEAR 2010 Fair Market Value of Passenger Automobile Tax Year During Lease Over Not Over 1st 2nd 3rd 4th 5th & Later 17,000 17,500 3 6 9 10 11 17,500 18,000 4 8 12 14 16 18,000 18,500 5 10 15 18 21 18,500 19,000 6 12 19 22 24 19,000 19,500 7 15 21 26 29 19,500 20,000 8 17 25 29 34 20,000 20,500 9 19 28 33 38 20,500 21,000 10 21 31 37 43 21,000 21,500 11 23 35 41 47 21,500 22,000 12 25 38 45 51 22,000 23,000 13 29 42 51 58 23,000 24,000 15 33 49 58 67 24,000 25,000 17 37 56 66 76 25,000 26,000 19 42 62 73 85 26,000 27,000 21 46 68 82 93 27,000 28,000 23 50 75 89 103 28,000 29,000 25 55 81 97 111 29,000 30,000 27 59 88 104 121 30,000 31,000 29 63 94 113 129 31,000 32,000 31 68 100 120 138 32,000 33,000 33 72 107 127 148 33,000 34,000 35 76 114 135 156 34,000 35,000 37 81 119 143 165 35,000 36,000 39 85 126 151 174 36,000 37,000 41 89 133 158 183 37,000 38,000 43 94 139 166 191 38,000 39,000 45 98 145 174 201 39,000 40,000 47 102 152 182 209 40,000 41,000 49 106 159 189 218 41,000 42,000 51 111 164 198 227 42,000 43,000 53 115 171 205 236 43,000 44,000 55 119 178 213 245 44,000 45,000 57 124 184 220 254 45,000 46,000 59 128 190 228 263 46,000 47,000 60 133 197 235 272 47,000 48,000 62 137 203 244 280 48,000 49,000 64 142 209 251 290 49,000 50,000 66 146 216 259 298 50,000 51,000 68 150 223 266 308 51,000 52,000 70 154 229 275 316 52,000 53,000 72 159 235 282 325 53,000 54,000 74 163 242 290 334 54,000 55,000 76 167 249 297 343 55,000 56,000 78 172 254 305 352 56,000 57,000 80 176 261 313 361 57,000 58,000 82 180 268 320 370 58,000 59,000 84 185 274 328 378 59,000 60,000 86 189 280 336 388 60,000 62,000 89 195 291 347 401 62,000 64,000 93 204 303 363 418 64,000 66,000 97 213 315 379 436 66,000 68,000 101 221 329 394 454 68,000 70,000 105 230 341 410 472 70,000 72,000 109 239 354 424 490 72,000 74,000 113 247 367 440 508 74,000 76,000 117 256 380 455 526 76,000 78,000 121 264 393 471 543 78,000 80,000 125 273 406 486 561 80,000 85,000 131 289 428 513 592 85,000 90,000 141 310 461 552 636 90,000 95,000 151 332 492 591 681 95,000 100,000 161 353 525 629 726 100,000 110,000 176 386 573 686 793 110,000 120,000 195 430 637 763 882 120,000 130,000 215 473 701 841 971 130,000 140,000 235 516 766 918 1,059 140,000 150,000 255 559 830 995 1,149 150,000 160,000 274 603 894 1,072 1,238 160,000 170,000 294 646 958 1,150 1,326 170,000 180,000 314 689 1,023 1,226 1,416 180,000 190,000 333 733 1,087 1,303 1,505 190,000 200,000 353 776 1,151 1,381 1,594 200,000 210,000 373 819 1,216 1,457 1,683 210,000 220,000 392 863 1,280 1,534 1,772 220,000 230,000 412 906 1,344 1,612 1,861 230,000 240,000 432 949 1,409 1,689 1,949 240,000 and up 452 992 1,473 1,766 2,039 SECTION 5. 2010 1040 form EFFECTIVE DATE This revenue procedure applies to passenger automobiles that a taxpayer first places in service or first leases during calendar year 2010. 2010 1040 form SECTION 6. 2010 1040 form DRAFTING INFORMATION The principal author of this revenue procedure is Bernard P. 2010 1040 form Harvey of the Office of Associate Chief Counsel (Income Tax & Accounting). 2010 1040 form For further information regarding this revenue procedure, contact Mr. 2010 1040 form Harvey at (202) 622-4930 (not a toll-free call). 2010 1040 form Prev  Up  Next 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