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2013 Federal Tax Form 1040x

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2013 Federal Tax Form 1040x

2013 federal tax form 1040x 6. 2013 federal tax form 1040x   Tax Treaty Benefits Table of Contents Topics - This chapter discusses: Useful Items - You may want to see: Purpose of Tax Treaties Common Benefits Competent Authority AssistanceAdditional filing. 2013 federal tax form 1040x Obtaining Copies of Tax Treaties Topics - This chapter discusses: Some common tax treaty benefits, How to get help in certain situations, and How to get copies of tax treaties. 2013 federal tax form 1040x Useful Items - You may want to see: Publication 597 Information on the United States—Canada Income Tax Treaty 901 U. 2013 federal tax form 1040x S. 2013 federal tax form 1040x Tax Treaties See chapter 7 for information about getting these publications. 2013 federal tax form 1040x Purpose of Tax Treaties The United States has tax treaties or conventions with many countries. 2013 federal tax form 1040x See Table 6-1 at the end of this chapter for a list of these countries. 2013 federal tax form 1040x Under these treaties and conventions, citizens and residents of the United States who are subject to taxes imposed by the foreign countries are entitled to certain credits, deductions, exemptions, and reductions in the rate of taxes of those foreign countries. 2013 federal tax form 1040x If a foreign country with which the United States has a treaty imposes a tax on you, you may be entitled to benefits under the treaty. 2013 federal tax form 1040x Treaty benefits generally are available to residents of the United States. 2013 federal tax form 1040x They generally are not available to U. 2013 federal tax form 1040x S. 2013 federal tax form 1040x citizens who do not reside in the United States. 2013 federal tax form 1040x However, certain treaty benefits and safeguards, such as the nondiscrimination provisions, are available to U. 2013 federal tax form 1040x S. 2013 federal tax form 1040x citizens residing in the treaty countries. 2013 federal tax form 1040x U. 2013 federal tax form 1040x S. 2013 federal tax form 1040x citizens residing in a foreign country also may be entitled to benefits under that country's tax treaties with third countries. 2013 federal tax form 1040x Certification of U. 2013 federal tax form 1040x S. 2013 federal tax form 1040x residency. 2013 federal tax form 1040x   Use Form 8802, Application for United States Residency Certification, to request certification of U. 2013 federal tax form 1040x S. 2013 federal tax form 1040x residency for purposes of claiming benefits under a tax treaty. 2013 federal tax form 1040x Certification can be requested for the current and any prior calendar years. 2013 federal tax form 1040x You should examine the specific treaty articles to find if you are entitled to a tax credit, tax exemption, reduced rate of tax, or other treaty benefit or safeguard. 2013 federal tax form 1040x Common Benefits Some common tax treaty benefits are explained below. 2013 federal tax form 1040x The credits, deductions, exemptions, reductions in rate, and other benefits provided by tax treaties are subject to conditions and various restrictions. 2013 federal tax form 1040x Benefits provided by certain treaties are not provided by others. 2013 federal tax form 1040x Personal service income. 2013 federal tax form 1040x If you are a U. 2013 federal tax form 1040x S. 2013 federal tax form 1040x resident who is in a treaty country for a limited number of days in the tax year and you meet certain other requirements, the payment you receive for personal services performed in that country may be exempt from that country's income tax. 2013 federal tax form 1040x Professors and teachers. 2013 federal tax form 1040x If you are a U. 2013 federal tax form 1040x S. 2013 federal tax form 1040x resident, the payment you receive for the first 2 or 3 years that you are teaching or doing research in a treaty country may be exempt from that country's income tax. 2013 federal tax form 1040x Students, trainees, and apprentices. 2013 federal tax form 1040x If you are a U. 2013 federal tax form 1040x S. 2013 federal tax form 1040x resident, amounts you receive from the United States for study, research, or business, professional and technical training may be exempt from a treaty country's income tax. 2013 federal tax form 1040x Some treaties exempt grants, allowances, and awards received from governmental and certain nonprofit organizations. 2013 federal tax form 1040x Also, under certain circumstances, a limited amount of pay received by students, trainees, and apprentices may be exempt from the income tax of many treaty countries. 2013 federal tax form 1040x Pensions and annuities. 2013 federal tax form 1040x If you are a U. 2013 federal tax form 1040x S. 2013 federal tax form 1040x resident, nongovernment pensions and annuities you receive may be exempt from the income tax of treaty countries. 2013 federal tax form 1040x Most treaties contain separate provisions for exempting government pensions and annuities from treaty country income tax, and some treaties provide exemption from the treaty country's income tax for social security payments. 2013 federal tax form 1040x Investment income. 2013 federal tax form 1040x If you are a U. 2013 federal tax form 1040x S. 2013 federal tax form 1040x resident, investment income, such as interest and dividends, that you receive from sources in a treaty country may be exempt from that country's income tax or taxed at a reduced rate. 2013 federal tax form 1040x Several treaties provide exemption for capital gains (other than from sales of real property in most cases) if specified requirements are met. 2013 federal tax form 1040x Tax credit provisions. 2013 federal tax form 1040x If you are a U. 2013 federal tax form 1040x S. 2013 federal tax form 1040x resident who receives income from or owns capital in a foreign country, you may be taxed on that income or capital by both the United States and the treaty country. 2013 federal tax form 1040x Most treaties allow you to take a credit against or deduction from the treaty country's taxes based on the U. 2013 federal tax form 1040x S. 2013 federal tax form 1040x tax on the income. 2013 federal tax form 1040x Nondiscrimination provisions. 2013 federal tax form 1040x Most U. 2013 federal tax form 1040x S. 2013 federal tax form 1040x tax treaties provide that the treaty country cannot discriminate by imposing more burdensome taxes on U. 2013 federal tax form 1040x S. 2013 federal tax form 1040x citizens who are residents of the treaty country than it imposes on its own citizens in the same circumstances. 2013 federal tax form 1040x Saving clauses. 2013 federal tax form 1040x U. 2013 federal tax form 1040x S. 2013 federal tax form 1040x treaties contain saving clauses that provide that the treaties do not affect the U. 2013 federal tax form 1040x S. 2013 federal tax form 1040x taxation of its own citizens and residents. 2013 federal tax form 1040x As a result, U. 2013 federal tax form 1040x S. 2013 federal tax form 1040x citizens and residents generally cannot use the treaty to reduce their U. 2013 federal tax form 1040x S. 2013 federal tax form 1040x tax liability. 2013 federal tax form 1040x However, most treaties provide exceptions to saving clauses that allow certain provisions of the treaty to be claimed by U. 2013 federal tax form 1040x S. 2013 federal tax form 1040x citizens or residents. 2013 federal tax form 1040x It is important that you examine the applicable saving clause to determine if an exception applies. 2013 federal tax form 1040x More information on treaties. 2013 federal tax form 1040x   Publication 901 contains an explanation of treaty provisions that apply to amounts received by teachers, students, workers, and government employees and pensioners who are alien nonresidents or residents of the United States. 2013 federal tax form 1040x Since treaty provisions generally are reciprocal, you usually can substitute “United States” for the name of the treaty country whenever it appears, and vice versa when “U. 2013 federal tax form 1040x S. 2013 federal tax form 1040x ” appears in the treaty exemption discussions in Publication 901. 2013 federal tax form 1040x   Publication 597 contains an explanation of a number of frequently-used provisions of the United States–Canada income tax treaty. 2013 federal tax form 1040x Competent Authority Assistance If you are a U. 2013 federal tax form 1040x S. 2013 federal tax form 1040x citizen or resident alien, you can request assistance from the U. 2013 federal tax form 1040x S. 2013 federal tax form 1040x competent authority if you think that the actions of the United States, a treaty country, or both, cause or will cause a tax situation not intended by the treaty between the two countries. 2013 federal tax form 1040x You should read any treaty articles, including the mutual agreement procedure article, that apply in your situation. 2013 federal tax form 1040x The U. 2013 federal tax form 1040x S. 2013 federal tax form 1040x competent authority cannot consider requests involving countries with which the United States does not have a tax treaty. 2013 federal tax form 1040x Effect of request for assistance. 2013 federal tax form 1040x   If your request provides a basis for competent authority assistance, the U. 2013 federal tax form 1040x S. 2013 federal tax form 1040x competent authority generally will consult with the treaty country competent authority on how to resolve the situation. 2013 federal tax form 1040x How to make your request. 2013 federal tax form 1040x   It is important that you make your request for competent authority consideration as soon as either of the following occurs. 2013 federal tax form 1040x You are denied treaty benefits. 2013 federal tax form 1040x Actions taken by both the United States and the foreign country result in double taxation or will result in taxation not intended by the treaty. 2013 federal tax form 1040x   In addition to making a request for assistance, you should take steps so that any agreement reached by the competent authorities is not barred by administrative, legal, or procedural barriers. 2013 federal tax form 1040x Some of the steps you should consider taking include the following. 2013 federal tax form 1040x Filing a protective claim for credit or refund of U. 2013 federal tax form 1040x S. 2013 federal tax form 1040x taxes. 2013 federal tax form 1040x Delaying the expiration of any period of limitations on the making of a refund or other tax adjustment. 2013 federal tax form 1040x Avoiding the lapse or termination of your right to appeal any tax determination. 2013 federal tax form 1040x Complying with all applicable procedures for invoking competent authority consideration. 2013 federal tax form 1040x Contesting an adjustment or seeking an appropriate correlative adjustment with respect to the U. 2013 federal tax form 1040x S. 2013 federal tax form 1040x or treaty country tax. 2013 federal tax form 1040x Taxpayers can consult with the U. 2013 federal tax form 1040x S. 2013 federal tax form 1040x competent authority to determine whether they need to take protective steps and when any required steps need to be taken. 2013 federal tax form 1040x   The request should contain all essential items of information, including the following items. 2013 federal tax form 1040x A reference to the treaty and the treaty provisions on which the request is based. 2013 federal tax form 1040x The years and amounts involved in both U. 2013 federal tax form 1040x S. 2013 federal tax form 1040x dollars and foreign currency. 2013 federal tax form 1040x A brief description of the issues for which competent authority assistance is requested. 2013 federal tax form 1040x   A complete listing of the information that must be included with the request can be found in Revenue Procedure 2006-54, or its successor. 2013 federal tax form 1040x Revenue Procedure 2006-54 is available at www. 2013 federal tax form 1040x irs. 2013 federal tax form 1040x gov/irb/2006-49_IRB/ar13. 2013 federal tax form 1040x html. 2013 federal tax form 1040x   Also, see Notice 2013-78, which provides proposed updates to the procedures for requesting U. 2013 federal tax form 1040x S. 2013 federal tax form 1040x competent authority assistance under tax treaties. 2013 federal tax form 1040x As noted, Revenue Procedure 2006-54 will be superseded by a revenue procedure to be published in the future. 2013 federal tax form 1040x    Your request for competent authority consideration should be addressed to:   Deputy Commissioner (International) Large Business and International Division Internal Revenue Service 1111 Constitution Avenue, NW Routing M4-365 Washington, DC 20224 Attn: TAIT Additional filing. 2013 federal tax form 1040x   In the case of U. 2013 federal tax form 1040x S. 2013 federal tax form 1040x - initiated adjustments, you also must file a copy of the request with the IRS office where your case is pending. 2013 federal tax form 1040x If the request is filed after the matter has been designated for litigation or while a suit contesting your relevant tax liability is pending in a United States court, a copy of the request, with a separate statement attached identifying the court where the suit is pending and the docket number of the action, also must be filed with the: Office of Associate Chief Counsel (International) Internal Revenue Service 1111 Constitution Avenue, NW Washington, DC 20224 Additional details on the procedures for requesting competent authority assistance are included in Revenue Procedure 2006-54, or its successor. 2013 federal tax form 1040x Obtaining Copies of Tax Treaties Table 6-1 lists those countries with which the United States has income tax treaties. 2013 federal tax form 1040x This table is updated through October 31, 2013. 2013 federal tax form 1040x You can get complete information about treaty provisions from the taxing authority in the country from which you receive income or from the treaty itself. 2013 federal tax form 1040x You can obtain the text of most U. 2013 federal tax form 1040x S. 2013 federal tax form 1040x treaties at IRS. 2013 federal tax form 1040x gov. 2013 federal tax form 1040x You also can request the text of treaties from the Department of Treasury at the following address. 2013 federal tax form 1040x Department of Treasury Office of Business and Public Liaison Rm. 2013 federal tax form 1040x 3411 1500 Pennsylvania Avenue, NW  Washington, DC 20220 If you have questions about a treaty and you are in the United States, Puerto Rico, or the U. 2013 federal tax form 1040x S. 2013 federal tax form 1040x Virgin Islands, you can call the IRS at 1-800-829-1040. 2013 federal tax form 1040x Table 6–1. 2013 federal tax form 1040x List of Tax Treaties (Updated through October 31, 2013) Country Official Text  Symbol1 General  Effective Date Citation Applicable Treasury Explanations  or Treasury Decision (T. 2013 federal tax form 1040x D. 2013 federal tax form 1040x ) Australia TIAS 10773 Dec. 2013 federal tax form 1040x 1, 1983 1986-2 C. 2013 federal tax form 1040x B. 2013 federal tax form 1040x 220 1986-2 C. 2013 federal tax form 1040x B. 2013 federal tax form 1040x 246 Protocol TIAS Jan. 2013 federal tax form 1040x 1, 2004     Austria TIAS Jan. 2013 federal tax form 1040x 1, 1999     Bangladesh TIAS Jan. 2013 federal tax form 1040x 1, 2007     Barbados TIAS 11090 Jan. 2013 federal tax form 1040x 1, 1984 1991-2 C. 2013 federal tax form 1040x B. 2013 federal tax form 1040x 436 1991-2 C. 2013 federal tax form 1040x B. 2013 federal tax form 1040x 466 Protocol TIAS Jan. 2013 federal tax form 1040x 1, 2005     Belgium TIAS Jan. 2013 federal tax form 1040x 1, 2008     Bulgaria TIAS Jan. 2013 federal tax form 1040x 1, 2009     Canada2 TIAS 11087 Jan. 2013 federal tax form 1040x 1, 1985 1986-2 C. 2013 federal tax form 1040x B. 2013 federal tax form 1040x 258 1987-2 C. 2013 federal tax form 1040x B. 2013 federal tax form 1040x 298 Protocol TIAS Jan. 2013 federal tax form 1040x 1, 2009     China, People's Republic of TIAS 12065 Jan. 2013 federal tax form 1040x 1, 1987 1988-1 C. 2013 federal tax form 1040x B. 2013 federal tax form 1040x 414 1988-1 C. 2013 federal tax form 1040x B. 2013 federal tax form 1040x 447 Commonwealth of Independent States3 TIAS 8225 Jan. 2013 federal tax form 1040x 1, 1976 1976-2 C. 2013 federal tax form 1040x B. 2013 federal tax form 1040x 463 1976-2 C. 2013 federal tax form 1040x B. 2013 federal tax form 1040x 475 Cyprus TIAS 10965 Jan. 2013 federal tax form 1040x 1, 1986 1989-2 C. 2013 federal tax form 1040x B. 2013 federal tax form 1040x 280 1989-2 C. 2013 federal tax form 1040x B. 2013 federal tax form 1040x 314 Czech Republic TIAS Jan. 2013 federal tax form 1040x 1, 1993     Denmark TIAS Jan. 2013 federal tax form 1040x 1, 2001     Protocol TIAS Jan. 2013 federal tax form 1040x 1, 2008     Egypt TIAS 10149 Jan. 2013 federal tax form 1040x 1, 1982 1982-1 C. 2013 federal tax form 1040x B. 2013 federal tax form 1040x 219 1982-1 C. 2013 federal tax form 1040x B. 2013 federal tax form 1040x 243 Estonia TIAS Jan. 2013 federal tax form 1040x 1, 2000     Finland TIAS 12101 Jan. 2013 federal tax form 1040x 1, 1991     Protocol TIAS Jan. 2013 federal tax form 1040x 1, 2008     France TIAS Jan. 2013 federal tax form 1040x 1, 1996     Protocol TIAS Jan. 2013 federal tax form 1040x 1, 2009     Germany TIAS Jan. 2013 federal tax form 1040x 1, 1990     Protocol TIAS Jan. 2013 federal tax form 1040x 1, 2008     Greece TIAS 2902 Jan. 2013 federal tax form 1040x 1, 1953 1958-2 C. 2013 federal tax form 1040x B. 2013 federal tax form 1040x 1054 T. 2013 federal tax form 1040x D. 2013 federal tax form 1040x 6109, 1954-2 C. 2013 federal tax form 1040x B. 2013 federal tax form 1040x 638 Hungary TIAS 9560 Jan. 2013 federal tax form 1040x 1, 1980 1980-1 C. 2013 federal tax form 1040x B. 2013 federal tax form 1040x 333 1980-1 C. 2013 federal tax form 1040x B. 2013 federal tax form 1040x 354 Iceland TIAS 8151 Jan. 2013 federal tax form 1040x 1, 2009     India TIAS Jan. 2013 federal tax form 1040x 1, 1991     Indonesia TIAS 11593 Jan. 2013 federal tax form 1040x 1, 1990     Ireland TIAS Jan. 2013 federal tax form 1040x 1, 1998     Israel TIAS Jan. 2013 federal tax form 1040x 1, 1995     Italy TIAS Jan. 2013 federal tax form 1040x 1, 2010     Jamaica TIAS 10207 Jan. 2013 federal tax form 1040x 1, 1982 1982-1 C. 2013 federal tax form 1040x B. 2013 federal tax form 1040x 257 1982-1 C. 2013 federal tax form 1040x B. 2013 federal tax form 1040x 291 Japan TIAS Jan. 2013 federal tax form 1040x 1, 2005     Kazakhstan TIAS Jan. 2013 federal tax form 1040x 1, 1996     Korea, South TIAS 9506 Jan. 2013 federal tax form 1040x 1, 1980 1979-2 C. 2013 federal tax form 1040x B. 2013 federal tax form 1040x 435 1979-2 C. 2013 federal tax form 1040x B. 2013 federal tax form 1040x 458 Latvia TIAS Jan. 2013 federal tax form 1040x 1, 2000     Lithuania TIAS Jan. 2013 federal tax form 1040x 1, 2000     Luxembourg TIAS Jan. 2013 federal tax form 1040x 1, 2001     Malta TIAS Jan. 2013 federal tax form 1040x 1, 2011     Mexico TIAS Jan. 2013 federal tax form 1040x 1,1994     Protocol TIAS Jan. 2013 federal tax form 1040x 1, 2004               Table 6–1 (continued). 2013 federal tax form 1040x Country Official Text  Symbol1 General  Effective Date Citation Applicable Treasury Explanations  or Treasury Decision (T. 2013 federal tax form 1040x D. 2013 federal tax form 1040x ) Morocco TIAS 10195 Jan. 2013 federal tax form 1040x 1, 1981 1982-2 C. 2013 federal tax form 1040x B. 2013 federal tax form 1040x 405 1982-2 C. 2013 federal tax form 1040x B. 2013 federal tax form 1040x 427 Netherlands TIAS Jan. 2013 federal tax form 1040x 1, 1994     Protocol TIAS Jan. 2013 federal tax form 1040x 1, 2005     New Zealand TIAS 10772 Nov. 2013 federal tax form 1040x 2, 1983 1990-2 C. 2013 federal tax form 1040x B. 2013 federal tax form 1040x 274 1990-2 C. 2013 federal tax form 1040x B. 2013 federal tax form 1040x 303 Protocol TIAS Jan. 2013 federal tax form 1040x 1, 2011     Norway TIAS 7474 Jan. 2013 federal tax form 1040x 1, 1971 1973-1 C. 2013 federal tax form 1040x B. 2013 federal tax form 1040x 669 1973-1 C. 2013 federal tax form 1040x B. 2013 federal tax form 1040x 693 Protocol TIAS 10205 Jan. 2013 federal tax form 1040x 1, 1982 1982-2 C. 2013 federal tax form 1040x B. 2013 federal tax form 1040x 440 1982-2 C. 2013 federal tax form 1040x B. 2013 federal tax form 1040x 454 Pakistan TIAS 4232 Jan. 2013 federal tax form 1040x 1, 1959 1960-2 C. 2013 federal tax form 1040x B. 2013 federal tax form 1040x 646 T. 2013 federal tax form 1040x D. 2013 federal tax form 1040x 6431, 1960-1 C. 2013 federal tax form 1040x B. 2013 federal tax form 1040x 755 Philippines TIAS 10417 Jan. 2013 federal tax form 1040x 1, 1983 1984-2 C. 2013 federal tax form 1040x B. 2013 federal tax form 1040x 384 1984-2 C. 2013 federal tax form 1040x B. 2013 federal tax form 1040x 412 Poland TIAS 8486 Jan. 2013 federal tax form 1040x 1, 1974 1977-1 C. 2013 federal tax form 1040x B. 2013 federal tax form 1040x 416 1977-1 C. 2013 federal tax form 1040x B. 2013 federal tax form 1040x 427 Portugal TIAS Jan. 2013 federal tax form 1040x 1, 1996     Romania TIAS 8228 Jan. 2013 federal tax form 1040x 1, 1974 1976-2 C. 2013 federal tax form 1040x B. 2013 federal tax form 1040x 492 1976-2 C. 2013 federal tax form 1040x B. 2013 federal tax form 1040x 504 Russia TIAS Jan. 2013 federal tax form 1040x 1, 1994     Slovak Republic TIAS Jan. 2013 federal tax form 1040x 1, 1993     Slovenia TIAS Jan. 2013 federal tax form 1040x 1, 2002     South Africa TIAS Jan. 2013 federal tax form 1040x 1, 1998     Spain TIAS Jan. 2013 federal tax form 1040x 1, 1991     Sri Lanka TIAS Jan. 2013 federal tax form 1040x 1, 2004     Sweden TIAS Jan. 2013 federal tax form 1040x 1, 1996     Protocol TIAS Jan. 2013 federal tax form 1040x 1, 2007     Switzerland TIAS Jan. 2013 federal tax form 1040x 1, 1998     Thailand TIAS Jan. 2013 federal tax form 1040x 1, 1998     Trinidad and Tobago TIAS 7047 Jan. 2013 federal tax form 1040x 1, 1970 1971-2 C. 2013 federal tax form 1040x B. 2013 federal tax form 1040x 479   Tunisia TIAS Jan. 2013 federal tax form 1040x 1, 1990     Turkey TIAS Jan. 2013 federal tax form 1040x 1, 1998     Ukraine TIAS Jan. 2013 federal tax form 1040x 1, 2001     United Kingdom TIAS Jan. 2013 federal tax form 1040x 1, 2004     Venezuela TIAS Jan. 2013 federal tax form 1040x 1, 2000      1(TIAS) — Treaties and Other International Act Series. 2013 federal tax form 1040x  2Information on the treaty can be found in Publication 597, Information on the United States—Canada Income Tax Treaty. 2013 federal tax form 1040x 3The U. 2013 federal tax form 1040x S. 2013 federal tax form 1040x -U. 2013 federal tax form 1040x S. 2013 federal tax form 1040x S. 2013 federal tax form 1040x R. 2013 federal tax form 1040x income tax treaty applies to the countries of Armenia, Azerbaijan, Belarus, Georgia, Kyrgyzstan, Moldova, Tajikistan, Turkmenistan, and Uzbekistan. 2013 federal tax form 1040x Prev  Up  Next   Home   More Online Publications
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The 2013 Federal Tax Form 1040x

2013 federal tax form 1040x Car Expenses Table of Contents Introduction Depreciation of CarSpecial Depreciation Allowance Depreciation Limit Amended Return Election Not To Claim Special Allowance If you purchased a car after September 10, 2001, for use in your business (or as an employee) and figure your deductible expenses using the actual car expense method, new law contains provisions that may affect your depreciation deduction for that car. 2013 federal tax form 1040x Publication 463, Travel, Entertainment, Gift, and Car Expenses, contains information on figuring depreciation on your car. 2013 federal tax form 1040x However, Publication 463 does not contain the new provisions because it was printed before the law was enacted. 2013 federal tax form 1040x The new provisions are in the Supplement to Publication 463, which is reprinted below. 2013 federal tax form 1040x Supplement to Publication 463 Travel, Entertainment, Gift, and Car Expenses   Introduction This supplemental publication is for taxpayers who purchased a car for business purposes after September 10, 2001, and figure their deductible expenses, including a deduction for depreciation, using the actual car expense method. 2013 federal tax form 1040x After Publication 463 was printed, the Job Creation and Worker Assistance Act of 2002 was signed into law by the President. 2013 federal tax form 1040x Certain provisions of this new law may reduce your taxes for 2001. 2013 federal tax form 1040x The new law contains the following provisions. 2013 federal tax form 1040x A new depreciation deduction, the special depreciation allowance. 2013 federal tax form 1040x An increase in the limit on depreciation for any car for which you claim the new special depreciation allowance. 2013 federal tax form 1040x If you have already filed your 2001 return, you may wish to file an amended return to claim any of these benefits. 2013 federal tax form 1040x See Amended Return, later. 2013 federal tax form 1040x Depreciation of Car If you used the actual car expense method to figure your deduction for a car you own and use in your business (or as an employee), you generally can claim a depreciation deduction. 2013 federal tax form 1040x However, there is a limit on the depreciation deduction you can take for your car each year. 2013 federal tax form 1040x See Depreciation Limit later. 2013 federal tax form 1040x Special Depreciation Allowance The new law allows you to claim a special depreciation allowance. 2013 federal tax form 1040x This special allowance is a deduction equal to 30% of the depreciable basis of qualified property. 2013 federal tax form 1040x You figure the amount of the special depreciation allowance after any section 179 deduction you choose to claim, but before figuring your regular depreciation deduction under the Modified Accelerated Cost Recovery System (MACRS). 2013 federal tax form 1040x See Depreciation Deduction under Actual Car Expenses in chapter 4 of Publication 463 for information about MACRS. 2013 federal tax form 1040x You can claim the special depreciation allowance only for the year the qualified property is placed in service. 2013 federal tax form 1040x Qualified property. 2013 federal tax form 1040x   Qualified property includes a car (any four-wheeled vehicle, including a truck or van not more than 6,000 pounds, that is made primarily for use on public streets, roads, and highways) that meets all of the following requirements. 2013 federal tax form 1040x You bought it new. 2013 federal tax form 1040x You bought it after September 10, 2001. 2013 federal tax form 1040x (But a car is not qualified property if a binding written contract for you to buy the car was in effect before September 11, 2001. 2013 federal tax form 1040x ) You began using it for business after September 10, 2001, and used it more than 50% in a qualified business use. 2013 federal tax form 1040x Example. 2013 federal tax form 1040x Bob bought a new car on October 15, 2001, for $20,000 and placed it in service immediately, using it 75% for business. 2013 federal tax form 1040x Bob's car is qualified property. 2013 federal tax form 1040x Bob chooses not to take a section 179 deduction for the car. 2013 federal tax form 1040x He does claim the new special depreciation allowance. 2013 federal tax form 1040x Bob first must figure the car's depreciable basis, which is $15,000 ($20,000 × . 2013 federal tax form 1040x 75). 2013 federal tax form 1040x He then figures the special depreciation allowance of $4,500 ($15,000 × . 2013 federal tax form 1040x 30). 2013 federal tax form 1040x The remaining depreciable basis of $10,500 ($15,000 - $4,500) is depreciated using MACRS (200% declining balance method, half-year convention) and results in a deduction of $2,100 ($10,500 × . 2013 federal tax form 1040x 20), for a total depreciation deduction for 2001 of $6,600 ($4,500 + $2,100). 2013 federal tax form 1040x However, Bob's depreciation deduction is limited to $5,745 ($7,660 × . 2013 federal tax form 1040x 75), as discussed next. 2013 federal tax form 1040x Depreciation Limit The limit on your depreciation deduction for 2001 is increased to $7,660 for a car that is qualified property (defined above) and for which you claim the special depreciation allowance. 2013 federal tax form 1040x The limit is increased to $23,080 if the car is an electric car. 2013 federal tax form 1040x The section 179 deduction is treated as depreciation for purposes of this limit. 2013 federal tax form 1040x If you use a car less than 100% in your business or work, the limit is $7,660 (or $23,080 for an electric car) multiplied by the percentage of business and investment use during the year. 2013 federal tax form 1040x For cars that do not qualify for (or for which you choose not to claim) the special depreciation allowance, the limit remains $3,060 ($9,280 for electric cars). 2013 federal tax form 1040x Amended Return If you filed your 2001 calendar year return before June 1, 2002, and did not claim the new special depreciation allowance for a qualified car, you can claim it by filing an amended return on Form 1040X, Amended U. 2013 federal tax form 1040x S. 2013 federal tax form 1040x Individual Income Tax Return, by April 15, 2003. 2013 federal tax form 1040x At the top of the Form 1040X, print “Filed pursuant to Revenue Procedure 2002–33. 2013 federal tax form 1040x ” If you are an employee, attach Form 2106, Employee Business Expenses (revised March 2002). 2013 federal tax form 1040x If you are self-employed, attach Form 4562, Depreciation and Amortization (revised March 2002). 2013 federal tax form 1040x Or, you can claim the special depreciation allowance by filing Form 3115, Application for Change in Accounting Method, with your 2002 return. 2013 federal tax form 1040x For details, see Revenue Procedure 2002–33. 2013 federal tax form 1040x (But, filing Form 1040X for 2001 enables you to claim the special allowance earlier than attaching Form 3115 to your 2002 return. 2013 federal tax form 1040x ) You cannot claim the special depreciation allowance on an amended return (or by using Form 3115) if you made, or are treated as having made, the election not to claim it described later. 2013 federal tax form 1040x Example. 2013 federal tax form 1040x The facts are the same as in the previous example except that Bob filed his original 2001 income tax return on April 15, 2002, and claimed a $3,000 ($20,000 x . 2013 federal tax form 1040x 75 x . 2013 federal tax form 1040x 20) depreciation deduction for his new car using MACRS. 2013 federal tax form 1040x Bob now wishes to claim the special depreciation allowance for his new car on an amended 2001 return. 2013 federal tax form 1040x Bob, who is an employee, files Form 1040X, by April 15, 2003, with an updated Form 2106 (revised March 2002) attached, increasing his total depreciation deduction to $5,745, as figured in the earlier example. 2013 federal tax form 1040x Bob's new filled-in Form 2106 is shown later. 2013 federal tax form 1040x Election Not To Claim Special Allowance You can elect not to claim the special depreciation allowance for a car by making a statement attached to, or written on, your return indicating that you are electing not to claim the special depreciation allowance for 5-year property. 2013 federal tax form 1040x As a general rule, you must make this election by the due date (including extensions) of your return. 2013 federal tax form 1040x You can have an automatic extension of 6 months from the due date of your return (excluding extensions) to make the election with an amended return. 2013 federal tax form 1040x To get this extension, you must have filed your original return by the due date (including extensions). 2013 federal tax form 1040x At the top of the statement, print “Filed pursuant to section 301. 2013 federal tax form 1040x 9100–2. 2013 federal tax form 1040x ” If you elect not to claim the special depreciation allowance for a car, you cannot claim it for any other 5-year property placed in service during the same year. 2013 federal tax form 1040x Unless you elect (or are treated as electing) not to claim the special depreciation allowance, you must reduce the car's adjusted basis by the amount of the allowance, even if the allowance was not claimed. 2013 federal tax form 1040x Deemed election for return filed before June 1, 2002. 2013 federal tax form 1040x   If you did not make the election not to claim the special depreciation allowance in the time and manner described above, you will still be treated as electing not to claim it if all of the following apply. 2013 federal tax form 1040x You filed your 2001 return before June 1, 2002. 2013 federal tax form 1040x You claimed depreciation on your return but did not claim the special depreciation allowance. 2013 federal tax form 1040x You did not file an amended 2001 return by April 15, 2003, or a Form 3115 with your 2002 return, to claim the special depreciation allowance. 2013 federal tax form 1040x Form 2106, Page 1, for Bob Smith Form 2106, Page 2, for Bob Smith Prev  Up  Next   Home   More Online Publications