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Can I Efile A 2012 Tax Return

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Can I Efile A 2012 Tax Return

Can i efile a 2012 tax return Publication 600 - Main Contents Table of Contents Actual Expenses Optional Sales Tax Tables Instructions for the State and Local General Sales Tax Deduction WorksheetWhat if you lived in more than one state? What if you lived in more than one locality? What if your local general sales tax rate changed during 2006? What if you lived in more than one locality in the same state during 2006? Actual Expenses Generally, you can deduct the actual state and local general sales taxes (including compensating use taxes) you paid in 2006 if the tax rate was the same as the general sales tax rate. Can i efile a 2012 tax return However, sales taxes on food, clothing, medical supplies, and motor vehicles are deductible as a general sales tax even if the tax rate was less than the general sales tax rate. Can i efile a 2012 tax return If you paid sales tax on a motor vehicle at a rate higher than the general sales tax rate, you can deduct only the amount of tax that you would have paid at the general sales tax rate on that vehicle. Can i efile a 2012 tax return Motor vehicles include cars, motorcycles, motor homes, recreational vehicles, sport utility vehicles, trucks, vans, and off-road vehicles. Can i efile a 2012 tax return Also include any state and local general sales taxes paid for a leased motor vehicle. Can i efile a 2012 tax return Do not include sales taxes paid on items used in your trade or business. Can i efile a 2012 tax return To deduct your actual expenses, enter the amount on Schedule A, line 5, and enter “ST” on the dotted line to the left of the line 5 entry space. Can i efile a 2012 tax return You must keep your actual receipts showing general sales taxes paid to use this method. Can i efile a 2012 tax return Refund of general sales taxes. Can i efile a 2012 tax return   If you received a refund of state or local general sales taxes in 2006 for amounts paid in 2006, reduce your actual 2006 state and local general sales taxes by this amount. Can i efile a 2012 tax return If you received a refund of state or local general sales taxes in 2006 for prior year purchases, do not reduce your 2006 state and local general sales taxes by this amount. Can i efile a 2012 tax return But if you deducted your actual state and local general sales taxes in the earlier year and the deduction reduced your tax, you may have to include the refund in income on Form 1040, line 21. Can i efile a 2012 tax return See Recoveries in Pub. Can i efile a 2012 tax return 525 for details. Can i efile a 2012 tax return Optional Sales Tax Tables Instead of using your actual expenses, you can use the tables on pages 5 through 7 to figure your state and local general sales tax deduction. Can i efile a 2012 tax return You may also be able to add the state and local general sales taxes paid on certain specified items. Can i efile a 2012 tax return To figure your state and local general sales tax deduction using the tables, complete the worksheet below. Can i efile a 2012 tax return If your filing status is married filing separately, both you and your spouse elect to deduct sales taxes, and your spouse elects to use the optional sales tax tables, you also must use the tables to figure your state and local general sales tax deduction. Can i efile a 2012 tax return State and Local General Sales Tax Deduction Worksheet (See the instructions that begin on page 3. Can i efile a 2012 tax return ) Before you begin: See the instructions for line 1 on page 3 if: You lived in more than one state during 2006, or You had any nontaxable income in 2006. Can i efile a 2012 tax return   1. Can i efile a 2012 tax return Enter your state general sales taxes from the applicable table on page 5 or 6 (see page 3 of the instructions) 1. Can i efile a 2012 tax return $     Next. Can i efile a 2012 tax return If, for all of 2006, you lived only in Connecticut, the District of Columbia, Hawaii, Indiana, Kentucky, Maine, Maryland, Massachusetts, Michigan, Mississippi, New Jersey, Rhode Island, Virginia, or West Virginia, skip lines 2 through 5, enter -0- on line 6, and go to line 7. Can i efile a 2012 tax return Otherwise, go to line 2       2. Can i efile a 2012 tax return Did you live in Alaska, Arizona, Arkansas (Texarkana only), California (Los Angeles County only), Colorado, Georgia, Illinois, Louisiana, New York State, or North Carolina in 2006?         No. Can i efile a 2012 tax return Enter -0-                   Yes. Can i efile a 2012 tax return Enter your local general sales taxes from the applicable table on page 7 (see page 3 of the instructions)     2. Can i efile a 2012 tax return $       3. Can i efile a 2012 tax return Did your locality impose a local general sales tax in 2006? Residents of California, Nevada, and Texarkana, Arkansas, see page 3 of the instructions             No. Can i efile a 2012 tax return Skip lines 3 through 5, enter -0- on line 6, and go to line 7             Yes. Can i efile a 2012 tax return Enter your local general sales tax rate, but omit the percentage sign. Can i efile a 2012 tax return For example, if your local general sales tax rate was 2. Can i efile a 2012 tax return 5%, enter 2. Can i efile a 2012 tax return 5. Can i efile a 2012 tax return If your local general sales tax rate changed or you lived in more than one locality in the same state during 2006, see page 3 of the instructions. Can i efile a 2012 tax return (If you do not know your local general sales tax rate, contact your local government. Can i efile a 2012 tax return ) 3. Can i efile a 2012 tax return . Can i efile a 2012 tax return       4. Can i efile a 2012 tax return Did you enter -0- on line 2 above?             No. Can i efile a 2012 tax return Skip lines 4 and 5 and go to line 6             Yes. Can i efile a 2012 tax return Enter your state general sales tax rate (shown in the table heading for your state), but omit the percentage sign. Can i efile a 2012 tax return For example, if your state general sales tax rate is 6%, enter 6. Can i efile a 2012 tax return 0 4. Can i efile a 2012 tax return . Can i efile a 2012 tax return       5. Can i efile a 2012 tax return Divide line 3 by line 4. Can i efile a 2012 tax return Enter the result as a decimal (rounded to at least three places) 5. Can i efile a 2012 tax return . Can i efile a 2012 tax return       6. Can i efile a 2012 tax return Did you enter -0- on line 2 above?             No. Can i efile a 2012 tax return Multiply line 2 by line 3   6. Can i efile a 2012 tax return $     Yes. Can i efile a 2012 tax return Multiply line 1 by line 5. Can i efile a 2012 tax return If you lived in more than one locality in the same state during 2006, see page 4 of the instructions           7. Can i efile a 2012 tax return Enter your state and local general sales taxes paid on specified items, if any (see page 4 of the instructions) 7. Can i efile a 2012 tax return $   8. Can i efile a 2012 tax return Deduction for general sales taxes. Can i efile a 2012 tax return Add lines 1, 6, and 7. Can i efile a 2012 tax return Enter the result here and the total from all your state and local general sales tax deduction worksheets, if you completed more than one, on Schedule A, line 5. Can i efile a 2012 tax return Be sure to enter “ST” on the dotted line to the left of the entry space 8. Can i efile a 2012 tax return $     Instructions for the State and Local General Sales Tax Deduction Worksheet Line 1. Can i efile a 2012 tax return    If you lived in the same state for all of 2006, enter the applicable amount, based on your 2006 income and exemptions, from the optional state sales tax table for your state on page 5 or 6. Can i efile a 2012 tax return Read down the “At least-But less than” columns for your state and find the line that includes your 2006 income. Can i efile a 2012 tax return If married filing separately, do not include your spouse's income. Can i efile a 2012 tax return Your 2006 income is the amount shown on your Form 1040, line 38, plus any nontaxable items, such as the following. Can i efile a 2012 tax return Tax-exempt interest. Can i efile a 2012 tax return Veterans' benefits. Can i efile a 2012 tax return Nontaxable combat pay. Can i efile a 2012 tax return Workers' compensation. Can i efile a 2012 tax return Nontaxable part of social security and railroad retirement benefits. Can i efile a 2012 tax return Nontaxable part of IRA, pension, or annuity distributions. Can i efile a 2012 tax return Do not include rollovers. Can i efile a 2012 tax return Public assistance payments. Can i efile a 2012 tax return The exemptions column refers to the number of exemptions claimed on Form 1040, line 6d. Can i efile a 2012 tax return Do not include any additional exemptions you listed on Form 8914 for individuals displaced by Hurricane Katrina. Can i efile a 2012 tax return What if you lived in more than one state?    If you lived in more than one state during 2006, look up the table amount for each state using the above rules. Can i efile a 2012 tax return If there is no table for your state, the table amount is considered to be zero. Can i efile a 2012 tax return Multiply the table amount for each state you lived in by a fraction. Can i efile a 2012 tax return The numerator of the fraction is the number of days you lived in the state during 2006 and the denominator is the total number of days in the year (365). Can i efile a 2012 tax return Enter the total of the prorated table amounts for each state on line 1. Can i efile a 2012 tax return However, if you also lived in a locality during 2006 that imposed a local general sales tax, do not enter the total on line 1. Can i efile a 2012 tax return Instead, complete a separate worksheet for each state you lived in and enter the prorated amount for that state on line 1. Can i efile a 2012 tax return Example. Can i efile a 2012 tax return You lived in State A from January 1 through August 31, 2006 (243 days), and in State B from September 1 through December 31, 2006 (122 days). Can i efile a 2012 tax return The table amount for State A is $500. Can i efile a 2012 tax return The table amount for State B is $400. Can i efile a 2012 tax return You would figure your state general sales tax as follows. Can i efile a 2012 tax return State A: $500 x 243/365 = $333   State B: $400 x 122/365 = 134   Total = $467   If none of the localities in which you lived during 2006 imposed a local general sales tax, enter $467 on line 1 of your worksheet. Can i efile a 2012 tax return Otherwise, complete a separate worksheet for State A and State B. Can i efile a 2012 tax return Enter $333 on line 1 of the State A worksheet and $134 on line 1 of the State B worksheet. Can i efile a 2012 tax return Line 2. Can i efile a 2012 tax return   If you checked the “No” box, enter -0- on line 2, and go to line 3. Can i efile a 2012 tax return If you checked the “Yes” box and lived in the same locality for all of 2006, enter the applicable amount, based on your 2006 income and exemptions, from the optional local sales tax table for your locality on page 7. Can i efile a 2012 tax return Read down the “At least-But less than” columns for your locality and find the line that includes your 2006 income. Can i efile a 2012 tax return See the line 1 instructions on this page to figure your 2006 income. Can i efile a 2012 tax return The exemptions column refers to the number of exemptions claimed on Form 1040, line 6d. Can i efile a 2012 tax return Do not include any additional exemptions you listed on Form 8914 for individuals displaced by Hurricane Katrina. Can i efile a 2012 tax return What if you lived in more than one locality?   If you lived in more than one locality during 2006, look up the table amount for each locality using the above rules. Can i efile a 2012 tax return If there is no table for your locality, the table amount is considered to be zero. Can i efile a 2012 tax return Multiply the table amount for each locality you lived in by a fraction. Can i efile a 2012 tax return The numerator of the fraction is the number of days you lived in the locality during 2006 and the denominator is the total number of days in the year (365). Can i efile a 2012 tax return If you lived in more than one locality in the same state and the local general sales tax rate was the same for each locality, enter the total of the prorated table amounts for each locality in that state on line 2. Can i efile a 2012 tax return Otherwise, complete a separate worksheet for lines 2 through 6 for each locality and enter each prorated table amount on line 2 of the applicable worksheet. Can i efile a 2012 tax return Example. Can i efile a 2012 tax return You lived in Locality 1 from January 1 through August 31, 2006 (243 days), and in Locality 2 from September 1 through December 31, 2006 (122 days). Can i efile a 2012 tax return The table amount for Locality 1 is $100. Can i efile a 2012 tax return The table amount for Locality 2 is $150. Can i efile a 2012 tax return You would figure the amount to enter on line 2 as follows. Can i efile a 2012 tax return Note that this amount may not equal your local sales tax deduction, which is figured on line 6 of the worksheet. Can i efile a 2012 tax return Locality 1: $100 x 243/365 = $67   Locality 2: $150 x 122/365 = 50   Total = $117   Line 3. Can i efile a 2012 tax return   If you lived in California, check the “No” box if your combined state and local general sales tax rate is 7. Can i efile a 2012 tax return 25%. Can i efile a 2012 tax return Otherwise, check the “Yes” box and include on line 3 only the part of the combined rate that is more than 7. Can i efile a 2012 tax return 25%. Can i efile a 2012 tax return   If you lived in Nevada, check the “No” box if your combined state and local general sales tax rate is 6. Can i efile a 2012 tax return 5%. Can i efile a 2012 tax return Otherwise, check the “Yes” box and include on line 3 only the part of the combined rate that is more than 6. Can i efile a 2012 tax return 5%. Can i efile a 2012 tax return   If you lived in Texarkana, Arkansas, check the “Yes” box and enter “4. Can i efile a 2012 tax return 0” on line 3. Can i efile a 2012 tax return Your local general sales tax rate of 4. Can i efile a 2012 tax return 0% includes the additional 1. Can i efile a 2012 tax return 0% Arkansas state sales tax rate for Texarkana and the 1. Can i efile a 2012 tax return 5% sales tax rate for Miller County. Can i efile a 2012 tax return What if your local general sales tax rate changed during 2006?    If you checked the “Yes” box and your local general sales tax rate changed during 2006, figure the rate to enter on line 3 as follows. Can i efile a 2012 tax return Multiply each tax rate for the period it was in effect by a fraction. Can i efile a 2012 tax return The numerator of the fraction is the number of days the rate was in effect during 2006 and the denominator is the total number of days in the year (365). Can i efile a 2012 tax return Enter the total of the prorated tax rates on line 3. Can i efile a 2012 tax return Example. Can i efile a 2012 tax return Locality 1 imposed a 1% local general sales tax from January 1 through September 30, 2006 (273 days). Can i efile a 2012 tax return The rate increased to 1. Can i efile a 2012 tax return 75% for the period from October 1 through December 31, 2006 (92 days). Can i efile a 2012 tax return You would enter “1. Can i efile a 2012 tax return 189” on line 3, figured as follows. Can i efile a 2012 tax return January 1 - September 30: 1. Can i efile a 2012 tax return 00 x 273/365 = 0. Can i efile a 2012 tax return 748   October 1 - December 31: 1. Can i efile a 2012 tax return 75 x 92/365 = 0. Can i efile a 2012 tax return 441   Total = 1. Can i efile a 2012 tax return 189   What if you lived in more than one locality in the same state during 2006?    Complete a separate worksheet for lines 2 through 6 for each locality in your state if you lived in more than one locality in the same state during 2006 and either of the following applies. Can i efile a 2012 tax return Each locality did not have the same local general sales tax rate. Can i efile a 2012 tax return You lived in Texarkana, AR, or Los Angeles County, CA. Can i efile a 2012 tax return   To figure the amount to enter on line 3 of the worksheet for each locality in which you lived (except a locality for which you used the table on page 7 to figure your local general sales tax deduction), multiply the local general sales tax rate by a fraction. Can i efile a 2012 tax return The numerator of the fraction is the number of days you lived in the locality during 2006 and the denominator is the total number of days in the year (365). Can i efile a 2012 tax return Example. Can i efile a 2012 tax return You lived in Locality 1 from January 1 through August 31, 2006 (243 days), and in Locality 2 from September 1 through December 31, 2006 (122 days). Can i efile a 2012 tax return The local general sales tax rate for Locality 1 is 1%. Can i efile a 2012 tax return The rate for Locality 2 is 1. Can i efile a 2012 tax return 75%. Can i efile a 2012 tax return You would enter “0. Can i efile a 2012 tax return 666” on line 3 for the Locality 1 worksheet and “0. Can i efile a 2012 tax return 585” for the Locality 2 worksheet, figured as follows. Can i efile a 2012 tax return Locality 1: 1. Can i efile a 2012 tax return 00 x 243/365 = 0. Can i efile a 2012 tax return 666   Locality 2: 1. Can i efile a 2012 tax return 75 x 122/365 = 0. Can i efile a 2012 tax return 585   Line 6. Can i efile a 2012 tax return   If you lived in more than one locality in the same state during 2006, you should have completed line 1 only on the first worksheet for that state and separate worksheets for lines 2 through 6 for any other locality within that state in which you lived during 2006. Can i efile a 2012 tax return If you checked the “Yes” box on line 6 of any of those worksheets, multiply line 5 of that worksheet by the amount that you entered on line 1 for that state on the first worksheet. Can i efile a 2012 tax return Line 7. Can i efile a 2012 tax return    Enter on line 7 any state and local general sales taxes paid on the following specified items. Can i efile a 2012 tax return If you are completing more than one worksheet, include the total for line 7 on only one of the worksheets. Can i efile a 2012 tax return A motor vehicle (including a car, motorcycle, motor home, recreational vehicle, sport utility vehicle, truck, van, and off-road vehicle). Can i efile a 2012 tax return Also include any state and local general sales taxes paid for a leased motor vehicle. Can i efile a 2012 tax return If the state sales tax rate on these items is higher than the general sales tax rate, only include the amount of tax you would have paid at the general sales tax rate. Can i efile a 2012 tax return An aircraft or boat, if the tax rate was the same as the general sales tax rate. Can i efile a 2012 tax return A home (including a mobile home or prefabricated home) or substantial addition to or major renovation of a home, but only if the tax rate was the same as the general sales tax rate and any of the following applies. Can i efile a 2012 tax return Your state or locality imposes a general sales tax directly on the sale of a home or on the cost of a substantial addition or major renovation. Can i efile a 2012 tax return You purchased the materials to build a home or substantial addition or to perform a major renovation and paid the sales tax directly. Can i efile a 2012 tax return Under your state law, your contractor is considered your agent in the construction of the home or substantial addition or the performance of a major renovation. Can i efile a 2012 tax return The contract must state that the contractor is authorized to act in your name and must follow your directions on construction decisions. Can i efile a 2012 tax return In this case, you will be considered to have purchased any items subject to a sales tax and to have paid the sales tax directly. Can i efile a 2012 tax return   Do not include sales taxes paid on items used in your trade or business. Can i efile a 2012 tax return If you received a refund of state or local general sales taxes in 2006, see Refund of general sales taxes on page 1. 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Can i efile a 2012 tax return Publication 595 - Main Contents Table of Contents Capital Construction FundCCF Accounts Types of Accounts You Must Maintain Within a CCF Tax Treatment of CCF Deposits Tax Treatment of CCF Earnings Tax Treatment of CCF Withdrawals More Information How To Get Tax Help Capital Construction Fund The following sections discuss CCF accounts and the types of bookkeeping accounts you must maintain when you invest in a CCF account. Can i efile a 2012 tax return They also discuss the income tax treatment of CCF deposits, earnings, and withdrawals. Can i efile a 2012 tax return CCF Accounts This section explains who can open a CCF account and how to use the account to defer income tax. Can i efile a 2012 tax return Opening a CCF account. Can i efile a 2012 tax return   If you are a U. Can i efile a 2012 tax return S. Can i efile a 2012 tax return citizen and you own or lease one or more eligible vessels (defined later), you can open a CCF account. Can i efile a 2012 tax return However, before you open your CCF account, you must enter into an agreement with the Secretary of Commerce through the NMFS. Can i efile a 2012 tax return This agreement will establish the following. Can i efile a 2012 tax return Agreement vessels. Can i efile a 2012 tax return Eligible vessels named in the agreement that will be the basis for the deferral of income tax. Can i efile a 2012 tax return Planned use of withdrawals. Can i efile a 2012 tax return Use of CCF funds to acquire, build, or rebuild a vessel. Can i efile a 2012 tax return CCF depository. Can i efile a 2012 tax return Where your CCF funds will be held. Can i efile a 2012 tax return    You can request an application kit or get additional information from NMFS at the following address. Can i efile a 2012 tax return NOAA/NMFS, Financial Services Division, F/MB5 Capital Construction Fund Program 1315 East-West Highway Silver Spring, MD 20910-3282    You can obtain information on the Capital Construction Fund Program at the following website: www. Can i efile a 2012 tax return nmfs. Can i efile a 2012 tax return noaa. Can i efile a 2012 tax return gov/mb/financial_services/ccf. Can i efile a 2012 tax return htm. Can i efile a 2012 tax return    You can call NMFS to request an application kit or get additional information at (301) 713-2393 (ext. Can i efile a 2012 tax return 204). Can i efile a 2012 tax return Their fax number is (301) 713-1939. Can i efile a 2012 tax return Eligible vessels. Can i efile a 2012 tax return   There are two types of vessels that may be considered eligible, those weighing 5 tons or more and those weighing less than 5 tons. Can i efile a 2012 tax return For each type, certain requirements must be met. Can i efile a 2012 tax return Vessel weighing 5 tons or more. Can i efile a 2012 tax return   To be considered eligible, the vessel must meet all the following requirements. Can i efile a 2012 tax return Be built or rebuilt in the United States. Can i efile a 2012 tax return Be documented under the laws of the United States. Can i efile a 2012 tax return Be used commercially in the fisheries of the United States. Can i efile a 2012 tax return Be operated in the foreign or domestic commerce of the United States. Can i efile a 2012 tax return Vessel weighing less than 5 tons. Can i efile a 2012 tax return   A small vessel, weighing at least 2 net tons but less than 5 net tons, must meet all the following requirements to be considered eligible. Can i efile a 2012 tax return Be built or rebuilt in the United States. Can i efile a 2012 tax return Be owned by a U. Can i efile a 2012 tax return S. Can i efile a 2012 tax return citizen. Can i efile a 2012 tax return Have a home port in the United States. Can i efile a 2012 tax return Be used commercially in the fisheries of the United States. Can i efile a 2012 tax return Deferring tax on CCF deposits and earnings. Can i efile a 2012 tax return   You can use a CCF account to defer income tax by taking the following actions. Can i efile a 2012 tax return Making deposits to your CCF account from taxable income. Can i efile a 2012 tax return Excluding from income deposits assigned to certain accounts (discussed later). Can i efile a 2012 tax return Making withdrawals from your CCF account when you acquire, build, or rebuild fishing vessels. Can i efile a 2012 tax return Reducing the basis of fishing vessels you acquire, build, or rebuild to recapture amounts previously excluded from tax. Can i efile a 2012 tax return    Reporting requirements. Can i efile a 2012 tax return Beginning with the tax year in which you establish your agreement, you must report annual deposit and withdrawal activity to the NMFS on NOAA Form 34-82. Can i efile a 2012 tax return This form is due within 30 days after you file your federal income tax return even if no deposits or withdrawals are made. Can i efile a 2012 tax return For more information, contact the NMFS at the address or phone number given earlier. Can i efile a 2012 tax return Types of Accounts You Must Maintain Within a CCF This section discusses the three types of bookkeeping accounts you must maintain when you invest in a CCF account. Can i efile a 2012 tax return Your total CCF deposits and earnings for any given year are limited to the amount attributed to these three accounts for that year. Can i efile a 2012 tax return Capital account. Can i efile a 2012 tax return   The capital account consists primarily of amounts attributable to the following items. Can i efile a 2012 tax return Allowable depreciation deductions for agreement vessels. Can i efile a 2012 tax return Any nontaxable return of capital from either (a) or (b), below. Can i efile a 2012 tax return The sale or other disposition of agreement vessels. Can i efile a 2012 tax return Insurance or indemnity proceeds attributable to agreement vessels. Can i efile a 2012 tax return Any tax-exempt interest earned on state or local bonds in your CCF account. Can i efile a 2012 tax return Capital gain account. Can i efile a 2012 tax return   The capital gain account consists of amounts attributable to the following items reduced by any capital losses from assets held in your CCF account for more than 6 months. Can i efile a 2012 tax return Any capital gain from either of the following sources. Can i efile a 2012 tax return The sale or other disposition of agreement vessels held for more than 6 months. Can i efile a 2012 tax return Insurance or indemnity proceeds attributable to agreement vessels held for more than 6 months. Can i efile a 2012 tax return Any capital gain from assets held in your CCF account for more than 6 months. Can i efile a 2012 tax return Ordinary income account. Can i efile a 2012 tax return   The ordinary income account consists of amounts attributable to the following items. Can i efile a 2012 tax return Any earnings (without regard to the carryback of any net operating or net capital loss) from the operation of agreement vessels in the fisheries of the United States or in the foreign or domestic commerce of the United States. Can i efile a 2012 tax return Any capital gain from the following sources reduced by any capital losses from assets held in your CCF account for 6 months or less. Can i efile a 2012 tax return The sale or other disposition of agreement vessels held for 6 months or less. Can i efile a 2012 tax return Insurance or indemnity proceeds attributable to agreement vessels held for 6 months or less. Can i efile a 2012 tax return Any capital gain from assets held in your CCF account for 6 months or less. Can i efile a 2012 tax return Any ordinary income (such as depreciation recapture) from either of the following sources. Can i efile a 2012 tax return The sale or other disposition of agreement vessels. Can i efile a 2012 tax return Insurance or indemnity proceeds attributable to agreement vessels. Can i efile a 2012 tax return Any interest (not including tax-exempt interest from state and local bonds), most dividends, and other ordinary income earned on the assets in your CCF account. Can i efile a 2012 tax return Tax Treatment of CCF Deposits This section explains the tax treatment of income used as the basis for CCF deposits. Can i efile a 2012 tax return Capital gains. Can i efile a 2012 tax return   Do not report any transaction that produces a capital gain if you deposit the net proceeds into your CCF account. Can i efile a 2012 tax return This treatment applies to either of the following transactions. Can i efile a 2012 tax return The sale or other disposition of an agreement vessel. Can i efile a 2012 tax return The receipt of insurance or indemnity proceeds attributable to an agreement vessel. Can i efile a 2012 tax return Depreciation recapture. Can i efile a 2012 tax return   Do not report any transaction that produces depreciation recapture if you deposit the net proceeds into your CCF account. Can i efile a 2012 tax return This treatment applies to either of the following transactions. Can i efile a 2012 tax return The sale or other disposition of an agreement vessel. Can i efile a 2012 tax return The receipt of insurance or indemnity proceeds attributable to an agreement vessel. Can i efile a 2012 tax return Earnings from operations. Can i efile a 2012 tax return   Report earnings from the operation of agreement vessels on your Schedule C or C-EZ (Form 1040) even if you deposit part of these earnings into your CCF account. Can i efile a 2012 tax return You subtract any part of the earnings you deposited into your CCF account from the amount you would otherwise enter as taxable income on Form 1040, line 43 (for 2005). Can i efile a 2012 tax return Next to line 43, write “CCF” and the amount of the deposits. Can i efile a 2012 tax return Do not deduct these CCF deposits on Schedule C or C-EZ (Form 1040). Can i efile a 2012 tax return If you deposit earnings from operations into your CCF account and you must complete other forms such as Form 6251, Alternative Minimum Tax (Individuals), or a worksheet for Schedule D (Form 1040), you will need to make an extra computation. Can i efile a 2012 tax return When the other form instructs you to use the amount from Form 1040, line 41 (for 2005), do not use that amount. Can i efile a 2012 tax return Instead, add Form 1040, lines 42 and 43 (for 2005), and use that amount. Can i efile a 2012 tax return Self-employment tax. Can i efile a 2012 tax return   You must use your net profit or loss from your fishing business to figure your self-employment tax. Can i efile a 2012 tax return Do not reduce your net profit or loss by any earnings from operations you deposit into your CCF account. Can i efile a 2012 tax return    Partnerships and S corporations. Can i efile a 2012 tax return The deduction for partnership earnings from operations deposited into a CCF account is separately stated on Schedule K (Form 1065), line 13d, and allocated to the partners on Schedule K-1 (Form 1065), box 13 (for 2005). Can i efile a 2012 tax return   The deduction for S corporation earnings deposited into a CCF account is separately stated on Schedule K (Form 1120S), line 12d, and allocated to the shareholders on Schedule K-1 (Form 1120S), box 12 (for 2005). Can i efile a 2012 tax return Tax Treatment of CCF Earnings This section explains the tax treatment of the earnings from the assets in your CCF account when the earnings are redeposited or left in your account. Can i efile a 2012 tax return However, if you choose to withdraw the earnings in the year earned, you must generally pay income tax on them. Can i efile a 2012 tax return Capital gains. Can i efile a 2012 tax return   Do not report any capital gains from the sale of capital assets held in your CCF account. Can i efile a 2012 tax return This includes capital gain distributions reported to you on Form 1099-DIV or a substitute statement. Can i efile a 2012 tax return However, you should attach a statement to your tax return to list the payers and the amounts and to identify the capital gains as “CCF account earnings. Can i efile a 2012 tax return ” Interest and dividends. Can i efile a 2012 tax return   Do not report any ordinary income (such as interest and dividends) you earn on the assets in your CCF account. Can i efile a 2012 tax return However, you should attach a statement to your return to list the payers and the amounts and to identify them as “CCF account earnings. Can i efile a 2012 tax return ”   If you are required to file Schedule B (Form 1040), you can add these earnings to the list of payers and amounts on line 1 or line 5 and identify them as “CCF earnings. Can i efile a 2012 tax return ” Then, subtract the same amounts from the list and identify them as “CCF deposits. Can i efile a 2012 tax return ” Tax-exempt interest. Can i efile a 2012 tax return   Do not report tax-exempt interest from state or local bonds you held in your CCF account. Can i efile a 2012 tax return You are not required to report this interest on Form 1040, line 8b. Can i efile a 2012 tax return Tax Treatment of CCF Withdrawals This section discusses the tax treatment of amounts you withdraw from your CCF account during the year. Can i efile a 2012 tax return Qualified Withdrawals A qualified withdrawal from a CCF account is one that is approved by NMFS for either of the following uses. Can i efile a 2012 tax return Acquiring, building, or rebuilding qualified vessels (defined next). Can i efile a 2012 tax return Making principal payments on the mortgage of a qualified vessel. Can i efile a 2012 tax return NMFS will not approve amounts withdrawn to purchase nets not continuously attached to the vessel, such as seine nets, gill set-nets, and gill drift-nets. Can i efile a 2012 tax return NMFS will approve amounts withdrawn to purchase trawl nets. Can i efile a 2012 tax return Qualified vessel. Can i efile a 2012 tax return   This is any vessel that meets all of the following requirements. Can i efile a 2012 tax return The vessel was built or rebuilt in the United States. Can i efile a 2012 tax return The vessel is documented under the laws of the United States. Can i efile a 2012 tax return The person maintaining the CCF account agrees with the Secretary of Commerce that the vessel will be operated in United States foreign trade, Great Lakes trade, noncontiguous domestic trade, or the fisheries of the United States. Can i efile a 2012 tax return How to determine the source of qualified withdrawals. Can i efile a 2012 tax return   When you make a qualified withdrawal, the amount is treated as being withdrawn in the following order from the accounts listed below. Can i efile a 2012 tax return The capital account. Can i efile a 2012 tax return The capital gain account. Can i efile a 2012 tax return The ordinary income account. Can i efile a 2012 tax return Excluding qualified withdrawals from tax. Can i efile a 2012 tax return   Do not report on your income tax return any qualified withdrawals from your CCF account. Can i efile a 2012 tax return Reduce the depreciable basis of fishing vessels you acquire, build, or rebuild when you make a qualified withdrawal from either the capital gain or the ordinary income account. Can i efile a 2012 tax return Nonqualified Withdrawals A nonqualified withdrawal from a CCF account is generally any withdrawal that is not a qualified withdrawal. Can i efile a 2012 tax return Qualified withdrawals are defined under Qualified Withdrawals, earlier. Can i efile a 2012 tax return Examples. Can i efile a 2012 tax return   Examples of nonqualified withdrawals include the following amounts from either the ordinary income account or the capital gain account. Can i efile a 2012 tax return Amounts remaining in a CCF account upon termination of your agreement with NMFS. Can i efile a 2012 tax return Amounts you withdraw and use to make principal payments on the mortgage of a vessel if the basis of that vessel and the bases of other vessels you own have already been reduced to zero. Can i efile a 2012 tax return Amounts determined by the IRS to cause your CCF account balance to exceed the amount appropriate to meet your planned use of withdrawals. Can i efile a 2012 tax return You will generally be given 3 years to revise your plans to cover this excess balance. Can i efile a 2012 tax return Amounts you leave in your account for more than 25 years. Can i efile a 2012 tax return There is a graduated schedule under which the percentage applied to determine the amount of the nonqualified withdrawal increases from 20% in the 26th year to 100% in the 30th year. Can i efile a 2012 tax return How to determine the source of nonqualified withdrawals. Can i efile a 2012 tax return    When you make a nonqualified withdrawal from your CCF account, the amount is treated as being withdrawn in the following order from the accounts listed below. Can i efile a 2012 tax return The ordinary income account. Can i efile a 2012 tax return The capital gain account. Can i efile a 2012 tax return The capital account. Can i efile a 2012 tax return Paying tax on nonqualified withdrawals. Can i efile a 2012 tax return   In general, nonqualified withdrawals are taxed separately from your other gross income and at the highest marginal tax rate in effect for the year of withdrawal. Can i efile a 2012 tax return However, nonqualified withdrawals treated as made from the capital gain account are taxed at a rate that cannot exceed 15% for individuals and 34% for corporations. Can i efile a 2012 tax return    Partnerships and S corporations. Can i efile a 2012 tax return Taxable nonqualified partnership withdrawals are separately stated on Schedule K (Form 1065), line 20c, and allocated to the partners on Schedule K-1 (Form 1065), box 20 (for 2005). Can i efile a 2012 tax return Taxable nonqualified withdrawals by an S corporation are separately stated on Schedule K (Form 1120S), line 17d, and allocated to the shareholders on Schedule K-1 (Form 1120S), box 17. Can i efile a 2012 tax return Interest. Can i efile a 2012 tax return   You must pay interest on the additional tax due to nonqualified withdrawals that are treated as made from either the ordinary income or the capital gain account. Can i efile a 2012 tax return The interest period begins on the last date for paying tax for the year for which you deposited the amount you withdrew from your CCF account. Can i efile a 2012 tax return The period ends on the last date for paying tax for the year in which you make the nonqualified withdrawal. Can i efile a 2012 tax return The interest rate on the nonqualified withdrawal is simple interest. Can i efile a 2012 tax return The rate is subject to change annually and is published in the Federal Register. Can i efile a 2012 tax return    You also can call NMFS at (301) 713-2393 (ext. Can i efile a 2012 tax return 204) to get the current interest rate. Can i efile a 2012 tax return Interest deduction. Can i efile a 2012 tax return   You can deduct the interest you pay on a nonqualified withdrawal as a trade or business expense. Can i efile a 2012 tax return Reporting the additional tax and interest. Can i efile a 2012 tax return   Attach a statement to your income tax return showing your computation of the tax and the interest on a nonqualified withdrawal. Can i efile a 2012 tax return Include the tax and interest on Form 1040, line 63 (for 2005). Can i efile a 2012 tax return To the left of line 63, write in the amount of tax and interest and “CCF. Can i efile a 2012 tax return ” Tax benefit rule. Can i efile a 2012 tax return   If any portion of your nonqualified withdrawal is properly attributable to contributions (not earnings on the contributions) you made to the CCF account that did not reduce your tax liability for any tax year prior to the withdrawal year, the following tax treatment applies. Can i efile a 2012 tax return The part that did not reduce your tax liability for any year prior to the withdrawal year is not taxed. Can i efile a 2012 tax return That part is allowed as a net operating loss deduction. Can i efile a 2012 tax return More Information This section briefly discussed the CCF program. Can i efile a 2012 tax return For more detailed information, see the following legislative authorities. Can i efile a 2012 tax return Section 607 of the Merchant Marine Act of 1936, as amended (46 U. Can i efile a 2012 tax return S. Can i efile a 2012 tax return C. Can i efile a 2012 tax return 1177). Can i efile a 2012 tax return Chapter 2, Part 259 of title 50 of the Code of Federal Regulations (50 C. Can i efile a 2012 tax return F. Can i efile a 2012 tax return R. Can i efile a 2012 tax return , Part 259). Can i efile a 2012 tax return Subchapter A, Part 3 of title 26 of the Code of Federal Regulations (26 C. Can i efile a 2012 tax return F. Can i efile a 2012 tax return R. Can i efile a 2012 tax return , Part 3). Can i efile a 2012 tax return Section 7518 of the Internal Revenue Code (IRC 7518). Can i efile a 2012 tax return The application kit you can obtain from NMFS at the address or phone number given earlier may contain copies of some of these sources of additional information. Can i efile a 2012 tax return Also, see their web page at www. Can i efile a 2012 tax return nmfs. Can i efile a 2012 tax return noaa. Can i efile a 2012 tax return gov/mb/financial_services/ccf. Can i efile a 2012 tax return htm. Can i efile a 2012 tax return How To Get Tax Help You can get help with unresolved tax issues, order free publications and forms, ask tax questions, and get information from the IRS in several ways. Can i efile a 2012 tax return By selecting the method that is best for you, you will have quick and easy access to tax help. Can i efile a 2012 tax return Contacting your Taxpayer Advocate. Can i efile a 2012 tax return   If you have attempted to deal with an IRS problem unsuccessfully, you should contact your Taxpayer Advocate. Can i efile a 2012 tax return   The Taxpayer Advocate independently represents your interests and concerns within the IRS by protecting your rights and resolving problems that have not been fixed through normal channels. Can i efile a 2012 tax return While Taxpayer Advocates cannot change the tax law or make a technical tax decision, they can clear up problems that resulted from previous contacts and ensure that your case is given a complete and impartial review. Can i efile a 2012 tax return   To contact your Taxpayer Advocate: Call the Taxpayer Advocate toll free at 1-877-777-4778, Call, write, or fax the Taxpayer Advocate office in your area, Call 1-800-829-4059 if you are a TTY/TDD user, or Visit www. Can i efile a 2012 tax return irs. Can i efile a 2012 tax return gov/advocate. Can i efile a 2012 tax return   For more information, see Publication 1546, How To Get Help With Unresolved Tax Problems (now available in Chinese, Korean, Russian, and Vietnamese, in addition to English and Spanish). Can i efile a 2012 tax return Free tax services. Can i efile a 2012 tax return   To find out what services are available, get Publication 910, IRS Guide to Free Tax Services. Can i efile a 2012 tax return It contains a list of free tax publications and an index of tax topics. Can i efile a 2012 tax return It also describes other free tax information services, including tax education and assistance programs and a list of TeleTax topics. Can i efile a 2012 tax return Internet. Can i efile a 2012 tax return You can access the IRS website 24 hours a day, 7 days a week, at www. Can i efile a 2012 tax return irs. Can i efile a 2012 tax return gov to: E-file your return. Can i efile a 2012 tax return Find out about commercial tax preparation and e-file services available free to eligible taxpayers. Can i efile a 2012 tax return Check the status of your refund. Can i efile a 2012 tax return Click on Where's My Refund. Can i efile a 2012 tax return Be sure to wait at least 6 weeks from the date you filed your return (3 weeks if you filed electronically). Can i efile a 2012 tax return Have your tax return available because you will need to know your social security number, your filing status, and the exact whole dollar amount of your refund. Can i efile a 2012 tax return Download forms, instructions, and publications. Can i efile a 2012 tax return Order IRS products online. Can i efile a 2012 tax return Research your tax questions online. Can i efile a 2012 tax return Search publications online by topic or keyword. Can i efile a 2012 tax return View Internal Revenue Bulletins (IRBs) published in the last few years. Can i efile a 2012 tax return Figure your withholding allowances using our Form W-4 calculator. Can i efile a 2012 tax return Sign up to receive local and national tax news by email. Can i efile a 2012 tax return Get information on starting and operating a small business. Can i efile a 2012 tax return Phone. Can i efile a 2012 tax return Many services are available by phone. Can i efile a 2012 tax return Ordering forms, instructions, and publications. Can i efile a 2012 tax return Call 1-800-829-3676 to order current-year forms, instructions, and publications and prior-year forms and instructions. Can i efile a 2012 tax return You should receive your order within 10 days. Can i efile a 2012 tax return Asking tax questions. Can i efile a 2012 tax return Call the IRS with your tax questions at 1-800-829-1040. Can i efile a 2012 tax return Solving problems. Can i efile a 2012 tax return You can get face-to-face help solving tax problems every business day in IRS Taxpayer Assistance Centers. Can i efile a 2012 tax return An employee can explain IRS letters, request adjustments to your account, or help you set up a payment plan. Can i efile a 2012 tax return Call your local Taxpayer Assistance Center for an appointment. Can i efile a 2012 tax return To find the number, go to www. Can i efile a 2012 tax return irs. Can i efile a 2012 tax return gov/localcontacts or look in the phone book under United States Government, Internal Revenue Service. Can i efile a 2012 tax return TTY/TDD equipment. Can i efile a 2012 tax return If you have access to TTY/TDD equipment, call 1-800-829-4059 to ask tax questions or to order forms and publications. Can i efile a 2012 tax return TeleTax topics. Can i efile a 2012 tax return Call 1-800-829-4477 and press 2 to listen to pre-recorded messages covering various tax topics. Can i efile a 2012 tax return Refund information. Can i efile a 2012 tax return If you would like to check the status of your refund, call 1-800-829-4477 and press 1 for automated refund information and follow the recorded instructions or call 1-800-829-1954. Can i efile a 2012 tax return Be sure to wait at least 6 weeks from the date you filed your return (3 weeks if you filed electronically). Can i efile a 2012 tax return Have your tax return available because you will need to know your social security number, your filing status, and the exact whole dollar amount of your refund. Can i efile a 2012 tax return Evaluating the quality of our telephone services. Can i efile a 2012 tax return To ensure that IRS representatives give accurate, courteous, and professional answers, we use several methods to evaluate the quality of our telephone services. Can i efile a 2012 tax return One method is for a second IRS representative to sometimes listen in on or record telephone calls. Can i efile a 2012 tax return Another is to ask some callers to complete a short survey at the end of the call. Can i efile a 2012 tax return Walk-in. Can i efile a 2012 tax return Many products and services are available on a walk-in basis. Can i efile a 2012 tax return Products. Can i efile a 2012 tax return You can walk in to many post offices, libraries, and IRS offices to pick up certain forms, instructions, and publications. Can i efile a 2012 tax return Some IRS offices, libraries, grocery stores, copy centers, city and county government offices, credit unions, and office supply stores have a collection of products available to print from a CD-ROM or photocopy from reproducible proofs. Can i efile a 2012 tax return Also, some IRS offices and libraries have the Internal Revenue Code, regulations, Internal Revenue Bulletins, and Cumulative Bulletins available for research purposes. Can i efile a 2012 tax return Services. Can i efile a 2012 tax return You can walk in to your local Taxpayer Assistance Center every business day for personal, face-to-face tax help. Can i efile a 2012 tax return An employee can explain IRS letters, request adjustments to your account, or help you set up a payment plan. Can i efile a 2012 tax return If you need to resolve a tax problem, have questions about how the tax law applies to your individual tax return, or you're more comfortable talking with someone in person, visit your local Taxpayer Assistance Center where you can spread out your records and talk with an IRS representative face-to-face. Can i efile a 2012 tax return No appointment is necessary, but if you prefer, you can call your local Center and leave a message requesting an appointment to resolve a tax account issue. Can i efile a 2012 tax return A representative will call you back within 2 business days to schedule an in-person appointment at your convenience. Can i efile a 2012 tax return To find the number, go to www. Can i efile a 2012 tax return irs. Can i efile a 2012 tax return gov/localcontacts or look in the phone book under United States Government, Internal Revenue Service. Can i efile a 2012 tax return Mail. Can i efile a 2012 tax return You can send your order for forms, instructions, and publications to the address below and receive a response within 10 business days after your request is received. Can i efile a 2012 tax return National Distribution Center P. Can i efile a 2012 tax return O. Can i efile a 2012 tax return Box 8903 Bloomington, IL 61702-8903 CD-ROM for tax products. Can i efile a 2012 tax return You can order Publication 1796, IRS Tax Products on CD-ROM, and obtain: A CD that is released twice so you have the latest products. Can i efile a 2012 tax return The first release ships in late December and the final release ships in late February. Can i efile a 2012 tax return Current-year forms, instructions, and publications. Can i efile a 2012 tax return Prior-year forms, instructions, and publications. Can i efile a 2012 tax return Tax Map: an electronic research tool and finding aid. Can i efile a 2012 tax return Tax law frequently asked questions (FAQs). Can i efile a 2012 tax return Tax Topics from the IRS telephone response system. Can i efile a 2012 tax return Fill-in, print, and save features for most tax forms. Can i efile a 2012 tax return Internal Revenue Bulletins. Can i efile a 2012 tax return Toll-free and email technical support. Can i efile a 2012 tax return Buy the CD-ROM from National Technical Information Service (NTIS) at www. Can i efile a 2012 tax return irs. Can i efile a 2012 tax return gov/cdorders for $25 (no handling fee) or call 1-877-233-6767 toll free to buy the CD-ROM for $25 (plus a $5 handling fee). Can i efile a 2012 tax return CD-ROM for small businesses. Can i efile a 2012 tax return Publication 3207, Small Business Resource Guide CD-ROM, has a new look and enhanced navigation features. Can i efile a 2012 tax return This CD includes: Helpful information, such as how to prepare a business plan, find financing for your business, and much more. Can i efile a 2012 tax return All the business tax forms, instructions, and publications needed to successfully manage a business. Can i efile a 2012 tax return Tax law changes. Can i efile a 2012 tax return IRS Tax Map to help you find forms, instructions, and publications by searching on a keyword or topic. Can i efile a 2012 tax return Web links to various government agencies, business associations, and IRS organizations. Can i efile a 2012 tax return “Rate the Product” survey—your opportunity to suggest changes for future editions. Can i efile a 2012 tax return An updated version of this CD is available each year in early April. Can i efile a 2012 tax return You can get a free copy by calling 1-800-829-3676 or by visiting www. Can i efile a 2012 tax return irs. Can i efile a 2012 tax return gov/smallbiz. Can i efile a 2012 tax return Prev  Up  Next   Home   More Online Publications