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File Only State Taxes

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File Only State Taxes

File only state taxes Publication 17(SP) - Introductory Material Table of Contents Qué Hay de Nuevo Recordatorios IntroductionIconos. File only state taxes Para pedir formularios y publicaciones. File only state taxes Preguntas sobre los impuestos. File only state taxes Todo material en esta publicación puede ser reimpreso gratuitamente. File only state taxes Una referencia a El Impuesto Federal sobre los Ingresos (2013) sería apropiada. File only state taxes Las explicaciones y ejemplos en esta publicación representan la interpretación del Servicio de Impuestos Internos (IRS, por sus siglas en inglés) con respecto a: Leyes tributarias promulgadas por el Congreso de los Estados Unidos, Reglamentos del Departamento del Tesoro de los Estados Unidos y Decisiones de los tribunales. File only state taxes Sin embargo, la información provista no abarca cada situación y no se presenta con la intención de reemplazar la ley o cambiar su significado. File only state taxes Esta publicación abarca ciertos temas sobre los cuales un tribunal puede haber dictado un fallo más favorable para los contribuyentes que la interpretación hecha por el IRS. File only state taxes Hasta que estas interpretaciones divergentes sean resueltas por fallos o decretos de un tribunal superior o de alguna otra manera, esta publicación continuará presentando las interpretaciones hechas por el IRS. File only state taxes Todos los contribuyentes tienen derechos importantes cuando tratan con el IRS. File only state taxes Estos derechos están descritos en la sección titulada Derechos del Contribuyente , al final de esta publicación. File only state taxes Qué Hay de Nuevo Esta sección resume ciertos cambios tributarios importantes que entraron en vigor en el año 2013. File only state taxes La mayor parte de estos cambios se abordan en más detalle en esta publicación. File only state taxes Acontecimientos futuros. File only state taxes  Si desea obtener la información más reciente sobre temas de ley tributaria que se explican en esta publicación, incluyendo toda información sobre legislación tributaria, acceda a www. File only state taxes irs. File only state taxes gov/pub17sp. File only state taxes Impuesto Adicional del Medicare. File only state taxes  Comenzando en el año 2013, le corresponderá un Impuesto Adicional del Medicare de 0. File only state taxes 9% sobre los salarios, la compensación por jubilación ferroviaria (RRTA, por sus siglas en inglés) y el ingreso sobre el trabajo por cuenta propia que están sujetos al impuesto al Medicare. File only state taxes El impuesto corresponde si estos ingresos son mayores que: $125,000, si es casado que presenta una declaración por separado, $250,000, si es casado que presenta una declaración conjunta o $200,000, si presenta la declaración utilizando cualquier otro estado civil para efectos de la declaración. File only state taxes Si desea más información, vea el Formulario 8959 y sus Instrucciones, disponibles en inglés. File only state taxes Impuesto sobre los ingresos netos de inversión. File only state taxes  Comenzando en el año 2013, usted podría estar sujeto al impuesto sobre los ingresos netos de inversión (NIIT, por sus siglas en inglés). File only state taxes Este impuesto es el 3. File only state taxes 8% de la cantidad menor entre (a) su ingreso neto de inversión o (b) la cantidad en exceso de su ingreso bruto ajustado modificado sobre: $125,000, si es casado que presenta una declaración por separado, $250,000, si es casado que presenta una declaración conjunta o si es viudo calificado o $200,000, si presenta la declaración utilizando cualquier otro estado civil para efectos de la declaración. File only state taxes Si desea más información, vea el Formulario 8960 y sus Instrucciones, disponibles en inglés. File only state taxes Cambio en las tasas tributarias. File only state taxes  La tasa tributaria mayor es de 39. File only state taxes 6%. File only state taxes Si desea más información, vea la Hoja de Trabajo para el Cálculo del Impuesto del Año 2013 o las Tasas Impositivas de 2013 , las cuales se encuentran al final de esta publicación. File only state taxes Tasa tributaria sobre las ganancias netas de capital y dividendos calificados. File only state taxes  La tasa tributaria máxima de 15% sobre las ganancias netas de capital y los dividendos calificados ha aumentado a 20% para algunos contribuyentes. File only state taxes Vea el capítulo 16 . File only state taxes Gastos médicos y dentales. File only state taxes  Usted puede deducir solamente la parte de sus gastos médicos y dentales que sea mayor que el 10% de su ingreso bruto ajustado (7. File only state taxes 5% si usted o su cónyuge tiene 65 años de edad o más). File only state taxes Vea el capítulo 21 . File only state taxes Aumento de la cantidad de la exención personal para determinados contribuyentes. File only state taxes  La exención personal que le corresponde a usted ha aumentado a $3,900. File only state taxes Pero, esta cantidad se reduce si su ingreso bruto ajustado es mayor que: $150,000, si es casado que presenta una declaración por separado, $250,000, si es soltero, $275,000, si es cabeza de familia o $300,000, si presenta la declaración utilizando cualquier otro estado civil para efectos de la declaración. File only state taxes Vea el capítulo 3 . File only state taxes Límite sobre las deducciones detalladas. File only state taxes  Usted puede que no tenga derecho de deducir todas sus deducciones detalladas si su ingreso bruto ajustado es mayor que: $150,000, si es casado que presenta una declaración por separado, $250,000, si es soltero, $275,000, si es cabeza de familia o $300,000, si presenta la declaración utilizando cualquier otro estado civil para efectos de la declaración. File only state taxes Vea el capítulo 29 . File only state taxes Matrimonio entre el mismo sexo. File only state taxes  Si tiene un cónyuge de su mismo sexo con quien usted se casó en un estado (o jurisdicción o país extranjero) que reconoce el matrimonio entre personas del mismo sexo, usted y su cónyuge tienen que utilizar el estado civil para efectos de la declaración de casados que presentan una declaración conjunta o casado que presenta la declaración por separado en su declaración del año 2013. File only state taxes Utilice uno de estos estados civiles para efectos de la declaración aunque usted y su cónyuge en la actualidad vivan en un estado (o jurisdicción o país extranjero) en donde no se reconozca el matrimonio entre personas del mismo sexo. File only state taxes Vea el capítulo 2 . File only state taxes Si reúne ciertos requisitos, quizás podría presentar declaraciones enmendadas para cambiar su estado civil para efectos de la declaración para algunos años anteriores. File only state taxes Si desea saber más detalles sobre declaraciones enmendadas, vea el capítulo 1 . File only state taxes Cuenta flexible de ahorros para gastos médicos (FSA, por sus siglas en inglés). File only state taxes  Comenzando con los años del plan después de 2012, usted no puede hacer aportaciones mediante la reducción de salarios mayores de $2,500 a cuentas flexibles de ahorros para gastos médicos (FSA, por sus siglas en inglés). File only state taxes Vea el capítulo 5 . File only state taxes Créditos tributarios que vencen. File only state taxes  El crédito por vehículo eléctrico enchufable y la parte reembolsable del crédito del impuesto mínimo de años anteriores ha vencido. File only state taxes Usted no puede reclamar ninguno de éstos en su declaración del año 2013. File only state taxes Vea el capítulo 37 . File only state taxes Esquemas de inversión de tipo Ponzi. File only state taxes  Hay nuevas reglas sobre cómo reclamar una deducción en el Formulario 4684, en inglés, debido a una pérdida por robo por un esquema de inversión de tipo Ponzi. File only state taxes Vea el capítulo 25 . File only state taxes Método simplificado para la deducción por oficina en el hogar. File only state taxes  Si usted puede tomar una deducción por tener una oficina en su hogar, quizás pueda utilizar un método simplificado para calcular dicha deducción. File only state taxes Vea la Publicación 587, disponible en inglés. File only state taxes Tarifas estándar por milla. File only state taxes  Para 2013, la tarifa estándar por milla permitida por el costo de operar su automóvil para uso comercial ha aumentado a 56½ centavos por milla. File only state taxes Vea el capítulo 26 . File only state taxes Para 2013, la tarifa estándar por milla permitida por el costo de operar su automóvil por razones médicas ha aumentado a 24 centavos por milla. File only state taxes Vea el capítulo 21 . File only state taxes Para 2013, la tarifa estándar por milla permitida por el costo de operar su automóvil para determinar los gastos de mudanza ha aumentado a 24 centavos por milla. File only state taxes Vea la Publicación 521, Moving Expenses (Gastos de mudanza), en inglés. File only state taxes Recordatorios A continuación aparecen recordatorios importantes y otros asuntos que le podrían ayudar a presentar su declaración de impuestos del año 2013. File only state taxes Muchos de estos asuntos se explican más adelante en esta publicación. File only state taxes Anote su número de Seguro Social (SSN, por sus siglas en inglés) en la declaración. File only state taxes  Anote su número de Seguro Social (SSN, por sus siglas en inglés) en el espacio correspondiente de la declaración de impuestos. File only state taxes Si presentó una declaración conjunta de impuestos en el año 2012 y presenta una declaración conjunta en el año 2013 con el mismo cónyuge, escriba los nombres y números de Seguro Social en el mismo orden en que lo hizo en el año 2012. File only state taxes Vea el capítulo 1 . File only state taxes Proteja su documentación tributaria contra el robo de identidad. File only state taxes  El robo de identidad ocurre cuando otra persona usa la información personal de usted sin su autorización para cometer fraude u otros delitos. File only state taxes Dicha información personal podría ser su nombre, número de Seguro Social (SSN, por sus siglas en inglés) u otra información de identificación. File only state taxes Un ladrón de identidad puede usar su SSN para obtener un empleo o puede presentar una declaración de impuestos usando su SSN robado para recibir un reembolso. File only state taxes Si desea más información sobre el robo de identidad e información sobre cómo reducir su riesgo al robo de identidad, vea el capítulo 1 . File only state taxes Números de identificación del contribuyente. File only state taxes  Tiene que proveer el número de identificación del contribuyente de cada persona por la cual reclama ciertos beneficios tributarios. File only state taxes Este requisito se aplica aun en el caso en que la persona haya nacido en el año 2013. File only state taxes Por lo general, este número es el número de Seguro Social de la persona. File only state taxes Vea el capítulo 1 . File only state taxes Ingreso de fuentes en el extranjero. File only state taxes  Si es ciudadano de los Estados Unidos con ingresos provenientes de fuentes en el extranjero (ingresos del extranjero), tiene que declarar todos estos ingresos en su declaración de impuestos, a menos que estén exentos conforme a las leyes estadounidenses. File only state taxes Esto es cierto tanto si vive dentro como fuera de los Estados Unidos e independientemente de si recibe o no un Formulario W-2 ó 1099 del pagador extranjero. File only state taxes Esto corresponde al ingreso del trabajo (como salarios y propinas) y también al ingreso no derivado del trabajo (como intereses, dividendos, ganancias de capital, pensiones, alquileres y regalías). File only state taxes Si reside fuera de los Estados Unidos, es posible que pueda excluir la totalidad o parte de su ingreso del trabajo procedente de fuentes en el extranjero. File only state taxes Para más detalles, vea la Publicación 54, Tax Guide for U. File only state taxes S. File only state taxes Citizens and Resident Aliens Abroad (Guía tributaria para ciudadanos y residentes estadounidenses en el extranjero), en inglés. File only state taxes Activos financieros extranjeros. File only state taxes  Si tuvo activos financieros extranjeros en el 2013, es posible que tenga que presentar el nuevo Formulario 8938 con su declaración. File only state taxes Vea www. File only state taxes IRS. File only state taxes gov/form8938, en inglés, para más detalles. File only state taxes Prórroga automática de 6 meses para presentar la declaración de impuestos. File only state taxes  Puede usar el Formulario 4868(SP), Solicitud de Prórroga Automática para Presentar la Declaración del Impuesto sobre el Ingreso Personal de los Estados Unidos (o el Formulario 4868, en inglés), para obtener una prórroga automática de 6 meses para presentar su declaración de impuestos. File only state taxes Vea el capítulo 1 . File only state taxes Incluya su número de teléfono en la declaración. File only state taxes  Para resolver rápidamente cualquier pregunta que necesitemos hacerle para tramitar su declaración, nos gustaría poder llamarlo. File only state taxes Anote el número de teléfono donde podamos llamarlo durante el día, al lado del espacio donde firma la declaración de impuestos y donde aparece su ocupación. File only state taxes Si usted presenta una declaración conjunta, puede anotar el número de teléfono suyo o el de su cónyuge. File only state taxes Pago de los impuestos. File only state taxes   Puede pagar sus impuestos a través de la Internet, a través del teléfono o por medio de cheque o giro. File only state taxes Puede efectuar una transferencia directa de su cuenta bancaria o utilizar una tarjeta de crédito o débito. File only state taxes Si presenta su declaración electrónicamente (por medio de e-file), puede programar un pago electrónico. File only state taxes Vea el capítulo 1 . File only state taxes Maneras más rápidas de presentar su declaración. File only state taxes  El IRS ofrece maneras rápidas y fiables de presentar la información tributaria sin tener que presentar una declaración en papel. File only state taxes Puede usar el sistema electrónico e-file del IRS para presentar su declaración de impuestos. File only state taxes Vea el capítulo 1 . File only state taxes Presentación electrónica gratuita de la declaración. File only state taxes  Usted quizás pueda presentar su declaración de impuestos del año 2013 por Internet sin pagar cargo alguno. File only state taxes Vea el capítulo 1 . File only state taxes Cambio de dirección. File only state taxes  Si cambia de dirección, debe notificarle al IRS. File only state taxes Vea el tema titulado Cambio de Dirección , en el capítulo 1. File only state taxes Reembolsos de una declaración presentada fuera de plazo. File only state taxes  Si a usted se le debe un reembolso pero no presentó una declaración, por lo general tendrá que presentar su declaración dentro de 3 años a partir de la fecha en que la declaración venció (incluidas prórrogas) para obtener ese reembolso. File only state taxes Vea el capítulo 1 . File only state taxes Declaraciones de impuestos frívolas. File only state taxes  El IRS ha publicado una lista de posturas identificadas como frívolas. File only state taxes La multa por presentar una declaración de impuestos frívola es de $5,000. File only state taxes Vea el capítulo 1 . File only state taxes Reclamación errónea de reembolso o crédito. File only state taxes  Quizás tenga que pagar una multa si reclama erróneamente un reembolso o crédito. File only state taxes Vea el capítulo 1 . File only state taxes Información sobre la Ley de Confidencialidad de Información y la Ley de Reducción de Trámites. File only state taxes   La IRS Restructuring and Reform Act of 1998 (Ley de Reestructuración y Reforma del Servicio de Impuestos Internos de 1998), la Privacy Act of 1974 (Ley de Confidencialidad de Información de 1974) y la Paperwork Reduction Act of 1980 (Ley de Reducción de Trámites de 1980) requieren que, cuando le solicitemos información, le informemos primero sobre cuál es nuestro derecho legal para solicitar esa información, por qué la estamos solicitando, cómo se usará la información, qué podría suceder si no la recibimos y si su respuesta es voluntaria, necesaria para obtener un beneficio u obligatoria conforme a la ley. File only state taxes Una explicación completa sobre este tema puede encontrarse en las instrucciones de los formularios. File only state taxes Servicio a los contribuyentes. File only state taxes  Puede hacer una cita para recibir ayuda en persona en el Centro de Ayuda al Contribuyente más conveniente en el día laborable que más le convenga. File only state taxes Vea el tema titulado Cómo Obtener Ayuda con los Impuestos , al final de esta publicación. File only state taxes Mandato para preparadores de impuestos sobre el sistema e-file. File only state taxes  La mayoría de los preparadores de impuestos remunerados que preparan y presentan declaraciones tienen que presentar electrónicamente por medio del sistema e-file. File only state taxes Puede ser que su preparador le comunique sobre este requisito y las opciones que están a disposición suya. File only state taxes Inspector General del Tesoro para la Administración Tributaria. File only state taxes   Si desea denunciar confidencialmente la mala conducta, ineficacia, el fraude o abuso cometido por un empleado del IRS, puede llamar al 1-800-366-4484 (1-800-877-8339 para personas sordas, con limitación auditiva o que tienen impedimentos del habla, y que usen equipo TTY/TDD). File only state taxes Puede mantenerse anónimo. File only state taxes Fotografías de niños desaparecidos. File only state taxes  El IRS se enorgullece en colaborar con el National Center for Missing and Exploited Children (Centro Nacional de Búsqueda de Niños Desaparecidos y Explotados). File only state taxes Las fotografías de niños desaparecidos que han sido seleccionadas por el Centro pueden aparacer en esta publicación en páginas que de otra manera estarían en blanco. File only state taxes Usted puede ayudar a que estos niños regresen a sus hogares mirando sus fotografías y llamando al número gratuito 1-800-THE-LOST (1-800-843-5678) si reconoce a un niño. File only state taxes Introduction Esta publicación abarca las reglas generales para la presentación de una declaración federal de impuestos sobre el ingreso. File only state taxes La publicación complementa la información contenida en las instrucciones para el formulario de impuestos. File only state taxes Igualmente explica las leyes tributarias para asegurar que usted pague sólo los impuestos que adeuda y nada más. File only state taxes Cómo está organizada esta publicación. File only state taxes   Esta publicación sigue de cerca el Formulario 1040, U. File only state taxes S. File only state taxes Individual Income Tax Return (Declaración de impuestos de los Estados Unidos sobre los ingresos personales), disponible en inglés. File only state taxes Está dividida en seis partes que abarcan distintas secciones del Formulario 1040. File only state taxes Cada parte está subdividida en capítulos que normalmente explican una línea del formulario. File only state taxes No se preocupe si presenta el Formulario 1040A o el Formulario 1040EZ. File only state taxes Todo lo que está incluido en una línea de cualquiera de ambos formularios se incluye también en el Formulario 1040. File only state taxes   La tabla de contenido que aparece al comienzo de esta publicación y el índice que aparece al final le servirán de utilidad para encontrar la información que necesite. File only state taxes Qué se incluye en esta publicación. File only state taxes   Esta publicación comienza con las reglas para la presentación de una declaración de impuestos. File only state taxes La publicación explica: Quién tiene que presentar una declaración, Qué formulario se debe utilizar para declarar los impuestos, Cuándo es la fecha de vencimiento de la declaración, Cómo presentar su declaración usando el sistema electrónico e-file y Otra información general. File only state taxes Esta publicación le ayudará a identificar el estado civil para propósitos de la declaración al cual tiene derecho. File only state taxes Del mismo modo, le ayudará a determinar si puede reclamar algún dependiente y si los ingresos que recibe están sujetos a impuestos. File only state taxes La publicación también explica la deducción estándar, las clases de gastos que quizás pueda deducir y varios créditos que quizás pueda tomar para reducir sus impuestos. File only state taxes   A lo largo de la publicación, hay ejemplos que muestran cómo se aplican las leyes tributarias en situaciones típicas. File only state taxes También hay organigramas y tablas en la publicación que presentan información tributaria en una manera fácil de entender. File only state taxes   Muchos de los temas que se tratan en esta publicación son explicados en mayor detalle en otras publicaciones del IRS. File only state taxes Se hace referencia a dichas publicaciones y se indica si están disponibles en español o en inglés. File only state taxes Iconos. File only state taxes   En la publicación se utilizan pequeños símbolos gráficos, o sea iconos, para llamar su atención a información especial. File only state taxes Vea la Tabla 1 , más adelante, para una explicación de cada icono usado en esta publicación. File only state taxes Qué no se incluye en esta publicación. File only state taxes   Algunos materiales que le podrían ser útiles no se incluyen en esta publicación pero pueden encontrarse en el folleto de instrucciones del formulario de impuestos. File only state taxes Esto incluye listas que identifican lo siguiente: Dónde declarar ciertas partidas que aparecen en documentos informativos y Temas tributarios grabados (temas TeleTax). File only state taxes   Si opera su propio negocio o si tiene otros ingresos del trabajo por cuenta propia, tales como del cuidado de niños o la venta de artesanía, vea las siguientes publicaciones para más información: Publicación 334, Tax Guide for Small Business (For Individuals Who Use Schedule C or C-EZ) (Guía tributaria para pequeños negocios (para personas que usen el Anexo C o C-EZ)), en inglés. File only state taxes Publicación 535, Business Expenses (Gastos de negocios), en inglés. File only state taxes Publicación 587, Business Use of Your Home (Including Use by Daycare Providers) (Uso comercial de su vivienda (incluyendo el uso por proveedores del cuidado de niños)), en inglés. File only state taxes Ayuda del IRS. File only state taxes   Existen muchas maneras en que puede obtener ayuda del IRS. File only state taxes Éstas se explican bajo el tema titulado Cómo Obtener Ayuda con los Impuestos , al final de esta publicación. File only state taxes Comentarios y sugerencias. File only state taxes   Agradeceremos sus comentarios acerca de esta publicación, así como sus sugerencias para ediciones futuras. File only state taxes   Puede enviar sus comentarios a la dirección siguiente:  Internal Revenue Service Tax Forms and Publications Division 1111 Constitution Ave. File only state taxes NW, IR-6526 Washington, DC 20224   Contestamos muchas cartas por teléfono. File only state taxes Por lo tanto, sería útil que incluyera en la correspondencia su número de teléfono, con el código de área, en donde nos podamos comunicar con usted durante el día. File only state taxes   Usted nos puede enviar comentarios desde la página web www. File only state taxes irs. File only state taxes gov/formspubs, en inglés, seleccionando Comment on Tax Forms and Publications (Enviar comentarios sobre los formularios y publicaciones de impuestos), bajo la sección More Information (Información adicional). File only state taxes   Aunque no le podemos contestar individualmente, agradecemos sus comentarios y sugerencias y los tendremos en cuenta para ediciones futuras de nuestros productos tributarios. File only state taxes Para pedir formularios y publicaciones. File only state taxes   Visite www. File only state taxes irs. File only state taxes gov/formspubs para descargar formularios y publicaciones, llame al 1-800-829-3676 para pedir formularios y publicaciones o escriba a la dirección indicada a continuación y recibirá una respuesta dentro de 10 días después de que nosotros recibamos su solicitud. File only state taxes  Internal Revenue Service 1201 N. File only state taxes Mitsubishi Motorway Bloomington, IL 61705-6613 Preguntas sobre los impuestos. File only state taxes   Si tiene una pregunta sobre los impuestos, verifique la información disponible en IRS. File only state taxes gov/espanol o llame al 1-800-829-1040. File only state taxes No podemos contestar preguntas sobre impuestos enviadas a ninguna de las dos direcciones indicadas anteriormente. File only state taxes Misión del IRS. File only state taxes   Proveerles a los contribuyentes de los Estados Unidos de América un servicio de la más alta calidad al ayudarles a entender y cumplir con sus responsabilidades tributarias y, a la vez, hacer cumplir las leyes tributarias de manera íntegra y justa para todos. File only state taxes Tabla 1. File only state taxes Leyenda de los Iconos Icono Explicación Partidas que podrían causarle problemas en particular o una alerta sobre legislaciones pendientes que podrían entrar en vigor después de que se imprima esta publicación. File only state taxes Un sitio en Internet o una dirección de correo electrónico. File only state taxes Una dirección que podría necesitar. File only state taxes Documentos que debería mantener en su documentación personal. File only state taxes Cálculos que necesite realizar o una hoja de trabajo que pueda tener que completar y conservar para sus archivos. File only state taxes Un número de teléfono importante. 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Report Name Change before You File Taxes

IRS Tax Tip 2014-08, February 6, 2014

Did you change your name last year? Did your dependent have a name change? If the answer to either question is yes, be sure to notify the Social Security Administration before you file your tax return with the IRS.

This is important because the name on your tax return must match SSA records. If they don’t, you’re likely to get a letter from the IRS about the mismatch. And if you expect a refund, this may delay when you’ll get it.

Be sure to contact SSA if:

  • You got married or divorced and you changed your name.

  • A dependent you claim had a name change. For example, this would apply if you adopted a child and that child’s last name changed.

File Form SS-5, Application for a Social Security Card, with the SSA to let them know about a name change. You can get the form on SSA.gov by calling 800-772-1213 or at an SSA office.

You can file Form SS-5 at an SSA office or by mail. Your new card will have the same SSN as before but will show your new name.

If you have an adopted child who does not have a SSN, use a temporary Adoption Taxpayer Identification Number on your tax form. You can apply for an ATIN by filing Form W-7A, Application for Taxpayer Identification Number for Pending U.S. Adoptions, with the IRS. Get the form on IRS.gov or by calling 800-TAX-FORM (800-829-3676).
 

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The File Only State Taxes

File only state taxes Accelerated Cost Recovery System (ACRS) Table of Contents Topics - This chapter discusses: Useful Items - You may want to see: ACRS Defined What Can and Cannot Be Depreciated Under ACRSRecovery Property Nonrecovery Property How To Figure the DeductionUnadjusted Basis Classes of Recovery Property Recovery Periods Alternate ACRS Method (Modified Straight Line Method) ACRS Deduction in Short Tax Year DispositionsEarly dispositions of ACRS property other than 15-, 18-, or 19-year real property. File only state taxes Dispositions — mass asset accounts. File only state taxes Early dispositions — 15-year real property. File only state taxes Early dispositions — 18- and 19-year real property. File only state taxes Depreciation Recapture Topics - This chapter discusses: The definition of ACRS What can and cannot be depreciated under ACRS How to figure the deduction Dispositions Useful Items - You may want to see: Publication 544 Sales and Other Dispositions of Assets 551 Basis of Assets 583 Starting a Business and Keeping Records Form (and Instructions) 3115 Application for Change in Accounting Method 4562 Depreciation and Amortization The Accelerated Cost Recovery System (ACRS) applies to property first used before 1987. File only state taxes It is the name given to tax rules for getting back (recovering) through depreciation deductions the cost of property used in a trade or business or to produce income. File only state taxes These rules are mandatory and generally apply to tangible property placed in service after 1980 and before 1987. File only state taxes If you placed property in service during this period, you must continue to figure your depreciation under ACRS. File only state taxes If you used listed property placed in service after June 18, 1984, less than 50% for business in 1995, see Predominant Use Test in chapter 3. File only state taxes Listed property includes cars, other means of transportation, and certain computers. File only state taxes Any additions or improvements placed in service after 1986, including any components of a building (such as plumbing, wiring, storm windows, etc. File only state taxes ), are depreciated using MACRS, discussed in chapter 3 of Publication 946. File only state taxes It does not matter that the underlying property is depreciated under ACRS or one of the other methods. File only state taxes ACRS Defined ACRS consists of accelerated depreciation methods and an alternate ACRS method that could have been elected. File only state taxes The alternate ACRS method used a recovery percentage based on a modified straight line method. File only state taxes The law prescribes fixed percentages to be uses for each class of property. File only state taxes Property depreciable under ACRS is called recovery property. File only state taxes The recovery class of property determines the recovery period. File only state taxes Generally, the class life of property places it in a 3-year, 5-year, 10-year, 15-year, 18-year, or 19-year recovery class. File only state taxes Under ACRS, the prescribed percentages are used to recover the unadjusted basis of recovery property. File only state taxes To figure a depreciation deduction, you multiply the prescribed percentage for the recovery class by the unadjusted basis of the recovery property. File only state taxes You must continue to figure your depreciation under ACRS for property placed in service after 1980 and before 1987. File only state taxes For property you placed in service after 1986, you must use MACRS, discussed in chapter 3 of Publication 946. File only state taxes What Can and Cannot Be Depreciated Under ACRS ACRS applies to most depreciable tangible property placed in service after 1980 and before 1987. File only state taxes It includes new or used and real or personal property. File only state taxes The property must be for use in a trade or business or for the production of income. File only state taxes Property you acquired before 1981 or after 1986 is not ACRS recovery property. File only state taxes For information on depreciating property acquired before 1981, see chapter 2. File only state taxes For information on depreciating property acquired after 1986, see chapter 3 of Publication 946. File only state taxes Recovery Property Recovery property under ACRS is tangible depreciable property placed in service after 1980 and before 1987. File only state taxes It generally includes new or used property that you acquired after 1980 and before 1987 for use in your trade or business or for the production of income. File only state taxes Nonrecovery Property You cannot use ACRS for property you placed in service before 1981 or after 1986. File only state taxes Nonrecovery property also includes: Intangible property, Property you elected to exclude from ACRS that is properly depreciated under a method of depreciation that is not based on a term of years, Certain public utility property, and Certain property acquired and excluded from ACRS because of the antichurning rules. File only state taxes Intangible property. File only state taxes   Intangible property is not depreciated under ACRS. File only state taxes Property depreciated under methods not expressed in a term of years. File only state taxes   Certain property depreciated under a method not expressed in a term of years is not depreciated under ACRS. File only state taxes This included any property: If you made an irrevocable election to exclude such property, and In the first year that you could have claimed depreciation, you properly used the unit-of-production method or any method of depreciation not expressed in a term of years (not including the retirement-replacement-betterment method). File only state taxes Public utility property. File only state taxes   Public utility property for which the taxpayer does not use a normalization method of accounting is excluded from ACRS and is subject to depreciation under a special rule. File only state taxes Additions or improvements to ACRS property after 1986. File only state taxes   Any additions or improvements placed in service after 1986, including any components of a building (plumbing, wiring, storm windows, etc. File only state taxes ) are depreciated using MACRS, discussed in chapter 3 of Publication 946. File only state taxes It does not matter that the underlying property is depreciated under ACRS or one of the other methods. File only state taxes How To Figure the Deduction After you determine that your property can be depreciated under ACRS, you are ready to figure your deduction. File only state taxes Because the conventions are built into the percentage table rates, you only need to know the following: The unadjusted basis of your recovery property, The classes of recovery property, The recovery periods, and Whether to use the prescribed percentages based on accelerated methods or percentages based on using the alternate ACRS method. File only state taxes Unadjusted Basis To figure your ACRS deduction, you multiply the unadjusted basis in your recovery property by its applicable percentage for the year. File only state taxes Unadjusted basis is the same amount you would use to figure gain on a sale, but it is figured without taking into account any depreciation taken in earlier years. File only state taxes However, reduce your original basis by the amount of amortization taken on the property and by any section 179 deduction claimed as discussed in chapter 2 of Publication 946. File only state taxes If you buy property, your unadjusted basis is usually its cost minus any amortized amount and minus any section 179 deduction elected. File only state taxes If you acquire property in some other way, such as by inheriting it, getting it as a gift, or building it yourself, you figure your unadjusted basis under other rules. File only state taxes See Publication 551. File only state taxes Classes of Recovery Property All recovery property under ACRS is in one of the following classes. File only state taxes The class for your property was determined when you began to depreciate it. File only state taxes 3-Year Property 3-year property includes automobiles, light-duty trucks (actual unloaded weight less than 13,000 pounds), and tractor units for use over-the-road. File only state taxes Race horses over 2 years old when placed in service are 3-year property. File only state taxes Any other horses over 12 years old when you placed them in service are also included in the 3-year property class. File only state taxes The ACRS percentages for 3-year recovery property are: Recovery Period Percentage 1st year 25% 2nd year 38% 3rd year 37% If you used the percentages above to depreciate your 3-year recovery property, your property, except for certain passenger automobiles, is fully depreciated. File only state taxes You cannot claim depreciation for this property after 1988. File only state taxes 5-Year Property 5-year property includes computers, copiers, and equipment, such as office furniture and fixtures. File only state taxes It also includes single purpose agricultural or horticultural structures and petroleum storage facilities (other than buildings and their structural components). File only state taxes The ACRS percentages for 5-year recovery property are: Recovery period Percentage 1st year 15% 2nd year 22% 3rd through 5th year 21% If you used the percentages above to depreciate your 5-year recovery property, it is fully depreciated. File only state taxes You cannot claim depreciation for this property after 1990. File only state taxes 10-Year Property 10-year property includes certain real property such as theme-park structures and certain public utility property. File only state taxes Manufactured homes (including mobile homes) and railroad tank cars are also 10-year property. File only state taxes You do not treat a building, and its structural components, as 10-year property by reason of a change in use after you placed the property in service. File only state taxes For example, a building (15-year real property) that was placed in service in 1981 and was converted to a theme-park structure in 1986 remains 15-year real property. File only state taxes The ACRS percentages for 10-year recovery property are: Recovery Period Percentage 1st year 8% 2nd year 14% 3rd year 12% 4th through 6th year 10% 7th through 10th year 9% If you used the percentages above, you cannot claim depreciation for this property after 1995. File only state taxes Example. File only state taxes On April 21, 1986, you bought and placed in service a new mobile home for $26,000 to be used as rental property. File only state taxes You paid $10,000 cash and signed a note for $16,000 giving you an unadjusted basis of $26,000. File only state taxes On June 8, 1986, you bought and placed in service a used mobile home for use as rental property at a total cost of $11,500. File only state taxes The total unadjusted basis of your 10-year recovery property placed in service in 1986 was $37,500 ($26,000 + $11,500). File only state taxes Your ACRS deduction was $3,000 (8% × $37,500). File only state taxes In 1987, your ACRS deduction was $5,250 (14% × $37,500). File only state taxes In 1988, your ACRS deduction was $4,500 (12% × $37,500). File only state taxes In 1989, 1990, and 1991, your ACRS deduction was $3,750 (10% × $37,500). File only state taxes In 1992, 1993, 1994, and 1995 your deduction for each year is $3,375 (9% × $37,500). File only state taxes 15-Year Real Property 15-year real property is real property that is recovery property placed in service before March 16, 1984. File only state taxes It includes all real property, such as buildings, other than that designated as 5-year or 10-year property. File only state taxes Unlike the 3-, 5-, or 10-year classes of property, the percentages for 15-year real property depend on when you placed the property in service during your tax year. File only state taxes You could group 15-year real property by month and year placed in service. File only state taxes In Table 1, at the end of this publication in the Appendix, find the month in your tax year that you placed the property in service in your trade or business or for the production of income. File only state taxes You use the percentages listed under that month for each year of the recovery period to determine your depreciation deduction each year. File only state taxes Example. File only state taxes On March 5, 1984, you placed an apartment building in service in your business. File only state taxes It is 15-year real property. File only state taxes After subtracting the value of the land, your unadjusted basis in the building is $250,000. File only state taxes You use the calendar year as your tax year. File only state taxes March is the third month of your tax year. File only state taxes Your ACRS deduction for 1984 was $25,000 (10% × $250,000). File only state taxes For 1985, the percentage for the third month of the second year of the recovery period is 11%. File only state taxes Your deduction was $27,500 (11% × $250,000). File only state taxes For the third, fourth, and fifth years of the recovery period (1986, 1987, and 1988), the percentages are 9%, 8%, and 7%. File only state taxes For 1989 through 1992, the percentage for the third month is 6%. File only state taxes Your deduction each year is $15,000 (6% × $250,000). File only state taxes For 1993, 1994, and 1995, the percentage for the third month is 5%. File only state taxes Your depreciation deduction is $12,500 (5% × $250,000) for 1993, 1994, and 1995. File only state taxes Low-Income Housing Low-income housing that was assigned a 15-year recovery period under ACRS includes the following types of property: Federally assisted housing projects where the mortgage is insured under section 221(d)(3) or 236 of the National Housing Act, or housing financed or assisted by direct loan or tax abatement under similar provisions of state or local laws. File only state taxes Low-income rental housing for which a depreciation deduction for rehabilitation expenditures is allowed. File only state taxes Low-income rental housing held for occupancy by families or individuals eligible to receive subsidies under section 8 of the United States Housing Act of 1937, as amended, or under the provisions of state or local laws that authorize similar subsidies for low-income families. File only state taxes Housing financed or assisted by direct loan or insured under Title V of the Housing Act of 1949. File only state taxes The ACRS percentages for low-income housing real property, like the regular 15-year real property percentages, depend on when you placed the property in service. File only state taxes Find the month in your tax year in Table 2 or 3 at the end of this publication in the Appendix that you first placed the property in service as rental housing. File only state taxes Use the percentages listed under that month for each year of the recovery period. File only state taxes Table 2 shows percentages for low-income housing placed in service before May 9, 1985. File only state taxes Table 3 shows percentages for low-income housing placed in service after May 8, 1985, and before 1987. File only state taxes Example. File only state taxes In May 1986, you acquired and placed in service a house that qualified as low-income rental housing under item 3) of the above listing. File only state taxes You use the calendar year as your tax year. File only state taxes You use Table C–3 because the property was placed in service after May 8, 1985. File only state taxes Your unadjusted basis for the property, not including the land, was $59,000. File only state taxes Your deduction for 1986 through 2001 is shown in the following table. File only state taxes Year Rate Deduction 1986 8. File only state taxes 9% $5,251 1987 12. File only state taxes 1% 7,139 1988 10. File only state taxes 5% 6,195 1989 9. File only state taxes 1% 5,369 1990 7. File only state taxes 9% 4,661 1991 6. File only state taxes 9% 4,071 1992 5. File only state taxes 9% 3,481 1993 5. File only state taxes 2% 3,068 1994 4. File only state taxes 6% 2,714 1995 4. File only state taxes 6% 2,714 1996 4. File only state taxes 6% 2,714 1997 4. File only state taxes 6% 2,714 1998 4. File only state taxes 6% 2,714 1999 4. File only state taxes 5% 2,655 2000 4. File only state taxes 5% 2,655 2001 1. File only state taxes 5% 885 18-Year Real Property 18-year real property is real property that is recovery property placed in service after March 15, 1984, and before May 9, 1985. File only state taxes It includes real property, such as buildings, other than that designated as 5-year, 10-year, 15-year real property, or low-income housing. File only state taxes The ACRS percentages for 18-year real property depend on when you placed the property in service in your trade or business or for the production of income during your tax year. File only state taxes There are also tables for 18-year real property in the Appendix. File only state taxes Table 4 shows the percentages for 18-year real property you placed in service after June 22, 1984, and before May 9, 1985. File only state taxes Table 5 is for 18-year real property placed in service after March 15, 1984, and before June 23, 1984. File only state taxes Find the month in your tax year that you placed the property in service in a trade or business or for the production of income. File only state taxes Use the percentages listed under that month for each year of the recovery period. File only state taxes Example. File only state taxes On April 28, 1985, you bought and placed in service a rental house. File only state taxes The house, not including the land, cost $95,000. File only state taxes This is your unadjusted basis for the house. File only state taxes You use the calendar year as your tax year. File only state taxes Because the house was placed in service after June 22, 1984, and before May 9, 1985, it is 18-year real property. File only state taxes You use Table 4 to figure your deduction for the house. File only state taxes April is the fourth month of your tax year. File only state taxes Your deduction for 1985 through 2003 is shown in the following table. File only state taxes Year Rate Deduction 1985 7. File only state taxes 0% $6,650 1986 9. File only state taxes 0% 8,550 1987 8. File only state taxes 0% 7,600 1988 7. File only state taxes 0% 6,650 1989 7. File only state taxes 0% 6,650 1990 6. File only state taxes 0% 5,700 1991 5. File only state taxes 0% 4,750 1992 5. File only state taxes 0% 4,750 1993 5. File only state taxes 0% 4,750 1994 5. File only state taxes 0% 4,750 1995 5. File only state taxes 0% 4,750 1996 5. File only state taxes 0% 4,750 1997 5. File only state taxes 0% 4,750 1998 4. File only state taxes 0% 3,800 1999 4. File only state taxes 0% 3,800 2000 4. File only state taxes 0% 3,800 2001 4. File only state taxes 0% 3,800 2002 4. File only state taxes 0% 3,800 2003 1. File only state taxes 0% 950 19-Year Real Property 19-year real property is real property that is recovery property placed in service after May 8, 1985, and before 1987. File only state taxes It includes all real property, other than that designated as 5-year, 10-year, 15-year, or 18-year real property, or low-income housing. File only state taxes The ACRS percentages for 19-year real property depend on when you placed the property in service in a trade or business or for the production of income during your tax year. File only state taxes Table 6 shows the percentages for 19-year real property. File only state taxes You find the month in your tax year that you placed the property in service. File only state taxes You use the percentages listed under that month for each year of the recovery period. File only state taxes Recovery Periods Each item of recovery property is assigned to a class of property. File only state taxes The classes of recovery property establish the recovery periods over which the unadjusted basis of items in a class is recovered. File only state taxes The classes of property are: 3-Year property 5-Year property 10-Year property 15-Year real property Low-income housing 18-Year real property 19-Year real property Alternate ACRS Method (Modified Straight Line Method) ACRS provides an alternate ACRS method that could be elected. File only state taxes This alternate ACRS method uses a recovery percentage based on a modified straight line method. File only state taxes This alternate ACRS method generally uses percentages other than those from the tables. File only state taxes If you elected the alternate ACRS method, you determine the recovery period by using the following schedule. File only state taxes This schedule is for other than 18- and 19-year real property and low-income housing: In the case of: You could have elected a recovery period of: 3-year property 3, 5, or 12 years 5-year property 5, 12, or 25 years 15-year real property 15, 35, or 45 years Percentages. File only state taxes   The straight-line percentages for the alternate ACRS method are: Recovery Period Percentage 5 years 20. File only state taxes 00% 10 years 10. File only state taxes 00% 12 years 8. File only state taxes 333% 15 years 6. File only state taxes 667% 25 years 4. File only state taxes 00% 35 years 2. File only state taxes 857%   You apply the percentage to the unadjusted basis(defined earlier) of the property to figure your ACRS deduction. File only state taxes There are tables for 18- and 19-year real property later in this publication in the Appendix. File only state taxes For 15-year real property, see 15-year real property, later. File only state taxes 3-, 5-, and 10-year property. File only state taxes   If you elected to use an alternate recovery percentage, you have to use the same recovery percentage for all property in that class that you placed in service in that tax year. File only state taxes This applies throughout the recovery period you selected. File only state taxes Half-year convention. File only state taxes   If you elected the alternate method, only a half-year of depreciation was deducted for the year you placed the property in service. File only state taxes This applied regardless of when in the tax year you placed the property in service. File only state taxes For each of the remaining years in the recovery period, you take a full year's deduction. File only state taxes If you hold the property for the entire recovery period, a half-year of depreciation is allowable for the year following the end of the recovery period. File only state taxes Example. File only state taxes You operate a small upholstery business. File only state taxes On March 19, 1986, you bought and placed in service a $13,000 light-duty panel truck to be used in your business and a $500 electric saw. File only state taxes You elected to use the alternate ACRS method. File only state taxes You did not elect to take a section 179 deduction. File only state taxes You decided to recover the cost of the truck, which is 3-year recovery property, over 5 years. File only state taxes The saw is 5-year property, but you decided to recover its cost over 12 years. File only state taxes For 1986, your ACRS deduction reflected the half-year convention. File only state taxes In the first year, you deducted half of the amount determined for a full year. File only state taxes Your ACRS deduction for 1986 is as follows: Light-duty truck   5 years straight line = 20% 20% ÷ $13,000 = $2,600 Half-year convention -½ of $2,600= $1,300. File only state taxes 00     Electric saw   12 years straight line = 8. File only state taxes 333% 8. File only state taxes 333% ÷ $500 = $41. File only state taxes 67 Half-year convention -½ of $41. File only state taxes 67= 20. File only state taxes 84 Total ACRS deduction for 1986 $1,320. File only state taxes 84       You take a full year of depreciation for both the truck and the saw for the years 1987 through 1990. File only state taxes Your ACRS deduction for each of those years is as follows: Light-duty truck   5 years straight line = 20% 20% ÷ $13,000 = $2,600     Electric saw     12 years straight line = 8. File only state taxes 333% 8. File only state taxes 333% ÷ $500 = $41. File only state taxes 67 Total annual ACRS deduction for 1987 through 1990 $2,641. File only state taxes 67       In 1991, you take a half-year of depreciation for the truck and a full year of depreciation for the saw. File only state taxes Your ACRS deduction for 1991 is as follows: Light-duty truck   5 years straight line = 20% 20% ÷ $13,000 = $2,600 Half-year convention -½ of $2,600= $1,300. File only state taxes 00     Electric saw   12 years straight line = 8. File only state taxes 333% 8. File only state taxes 333% ÷ $500 = $41. File only state taxes 67 Total ACRS deduction for 1991 $1,341. File only state taxes 67       The truck is fully depreciated after 1991. File only state taxes You take a full year of depreciation for the saw for the years 1992 through 1997. File only state taxes Your ACRS deduction for each of those years is as follows: Electric saw     12 years straight line = 8. File only state taxes 333% 8. File only state taxes 333% ÷ $500 = $41. File only state taxes 67 Total annual ACRS deduction for 1992 through 1997 $41. File only state taxes 67       You take a half-year of depreciation for the saw for 1998. File only state taxes Your ACRS deduction for 1998 is as follows: Electric saw   12 years straight line = 8. File only state taxes 333% 8. File only state taxes 333% ÷ $500 = $41. File only state taxes 67 Half-year convention -½ of $41. File only state taxes 67= 20. File only state taxes 84 Total ACRS deduction for 1998 $20. File only state taxes 84       The saw is fully depreciated after 1998. File only state taxes 15-year real property. File only state taxes   Under ACRS, you could also elect to use the alternate ACRS method for 15-year real property. File only state taxes The alternate ACRS method allows you to depreciate your 15-year real property using the straight line ACRS method over the alternate recovery periods of 15, 35, or 45 years. File only state taxes If you selected a 15-year recovery period, you use the percentage (6. File only state taxes 667%) from the schedule above. File only state taxes You prorate this percentage for the number of months the property was in service in the first year. File only state taxes If you selected a 35- or 45-year recovery period, you use either Table 11 or 15. File only state taxes Alternate periods for 18-year real property. File only state taxes   For 18-year real property, the alternate recovery periods are 18, 35, or 45 years. File only state taxes The percentages for 18-year real property under the alternate method are in Tables 7, 8, 10, 11, 14, and 15 in the Appendix. File only state taxes There are two tables for each alternate recovery period. File only state taxes One table shows the percentage for property placed in service after June 22, 1984. File only state taxes The other table has the percentages for property placed in service after March 15, 1984, and before June 23, 1984. File only state taxes Alternate periods for 19-year real property. File only state taxes   For 19-year real property, the alternate recovery periods are 19, 35, or 45 years. File only state taxes If you selected a 19-year recovery period, use Table 9 to determine your deduction. File only state taxes If you select a 35- or 45-year recovery period, use either Table 13 or 14. File only state taxes Example. File only state taxes You placed in service an apartment building on August 3, 1986. File only state taxes The building is 19-year real property. File only state taxes The sales contract allocated $300,000 to the building and $100,000 to the land. File only state taxes You use the calendar year as your tax year. File only state taxes You chose the alternate ACRS method over a recovery period of 35 years. File only state taxes For 1986, you figure your ACRS deduction usingTable 13. File only state taxes August is the eighth month of your tax year. File only state taxes The percentage from Table 13 for the eighth month is 1. File only state taxes 1%. File only state taxes Your deduction was $3,300 ($300,000 ÷ 1. File only state taxes 1%). File only state taxes The deduction rate from ACRS Table 13 for years 2 through 20 is 2. File only state taxes 9% so that your deduction in 1987 through 2005 is $8,700 ($300,000 ÷ 2. File only state taxes 9%). File only state taxes Alternate periods for low-income housing. File only state taxes   For low-income housing, the alternate recovery periods are 15, 35, or 45 years. File only state taxes If you selected a 15-year period for this property, use 6. File only state taxes 667% as the percentage. File only state taxes If you selected a 35- or 45-year period, use either Table 11, 12, or 15. File only state taxes Election. File only state taxes   You had to make the election to use the alternate ACRS method by the return due date (including extensions) for the tax year you placed the property in service. File only state taxes Revocation of election. File only state taxes   Your election to use an alternate ACRS method, once made, can be changed only with the consent of the Commissioner. File only state taxes The Commissioner grants consent only in extraordinary circumstances. File only state taxes Any request for a revocation will be considered a request for a ruling. File only state taxes ACRS Deduction in Short Tax Year For a tax year that is less than 12 months, the ACRS deduction is prorated on a 12-month basis. File only state taxes Figure the amount of the ACRS deduction for a short tax year as follows: First, you figure the ACRS deduction for a full year. File only state taxes You figure this by multiplying the unadjusted basis by the recovery percentage. File only state taxes You then multiply the ACRS deduction determined for a full tax year by a fraction. File only state taxes The numerator (top number) of the fraction is the number of months in the short tax year and the denominator (bottom number) is 12. File only state taxes For example, a corporation placed in service in June 1986 an item of 3-year property with an unadjusted basis of $10,000. File only state taxes The corporation files a tax return, because of a change in its accounting period, for the 6-month short tax year ending June 30, 1986. File only state taxes The full year's ACRS deduction for this item is $2,500 ($10,000 ÷ 25%), the first year percentage from the 3-year table. File only state taxes The ACRS deduction for the short tax year is $1,250 ($2,500 ÷ 6/12). File only state taxes You use the full ACRS percentages during the remaining years of the recovery period. File only state taxes For the first tax year after the recovery period, the unrecovered basis will be deductible. File only state taxes Exception. File only state taxes   For the tax year in which you placed 15-, 18-, or 19-year real property in service or in the tax year you dispose of it, you compute the ACRS deduction for the number of months that the property is in service during that tax year. File only state taxes You compute the number of months using either a full month or mid-month convention. File only state taxes This is true regardless of the number of months in the tax year and the recovery period and method used. File only state taxes Dispositions A disposition is the permanent withdrawal of property from use in your trade or business or in the production of income. File only state taxes You can make a withdrawal by sale, exchange, retirement, abandonment, or destruction. File only state taxes You generally recognize gain or loss on the disposition of an asset by sale. File only state taxes However, nonrecognition rules can allow you to postpone some gain. File only state taxes See Publication 544. File only state taxes If you physically abandon property, you can deduct as a loss the adjusted basis of the asset at the time of its abandonment. File only state taxes Your intent must be to discard the asset so that you will not use it again or retrieve it for sale, exchange, or other disposition. File only state taxes Early dispositions. File only state taxes   The disposal of an asset before the end of its specified recovery period, is referred to as an early disposition. File only state taxes When an early disposition occurs, the depreciation deduction in the year of disposition depends on the class of property involved. File only state taxes Early dispositions of ACRS property other than 15-, 18-, or 19-year real property. File only state taxes   Generally, you get no ACRS deduction for the tax year in which you dispose of or retire recovery property, except for 15-, 18-, and 19-year real property. File only state taxes This means there is no depreciation deduction under ACRS in the year you dispose of or retire any of your 3-, 5-, or 10-year recovery property. File only state taxes Dispositions — mass asset accounts. File only state taxes   The law provides a special rule to avoid the calculation of gain on the disposition of assets from mass asset accounts. File only state taxes A mass asset account includes items usually minor in value in relation to the group, numerous in quantity, impractical to separately identify, and not usually accounted for on a separate basis, but on a total dollar value. File only state taxes Examples of mass assets include minor items of office, plant, and store furniture and fixtures. File only state taxes   Under the special rule, if you elected to use a mass asset account, you recognize gain to the extent of the proceeds from the disposition of the asset. File only state taxes You leave the unadjusted basis of the property in the account until recovered in future years. File only state taxes If you did this, include the total proceeds realized from the disposition in income on the tax return for the year of disposition. File only state taxes Early dispositions — 15-year real property. File only state taxes   If you dispose of 15-year real property, you base your ACRS deduction for the year of disposition on the number of months in use. File only state taxes You use a full-month convention. File only state taxes For a disposition at any time during a particular month before the end of the recovery period, no deduction is allowed for the month of disposition. File only state taxes This applies whether you use the regular ACRS method or elected the alternate ACRS method. File only state taxes Example. File only state taxes You purchased and placed in service a rental house on March 2, 1984, for $98,000 (not including the cost of land). File only state taxes You file your return based on a calendar year. File only state taxes Your rate from Table 1 for the third month is 10%. File only state taxes Your ACRS deduction for 1984 was $9,800 ($98. File only state taxes 000 ÷ 10%). File only state taxes For 1985 through 1988, you figured your ACRS deductions using 11%, 9%, 8%, and 7% ÷ $98,000. File only state taxes For 1989 through 1992, you figured your ACRS deductions using 6% for each year. File only state taxes The deduction each year was $98,000 ÷ 6%. File only state taxes For 1993 and 1994, the ACRS deduction is ($98,000 ÷ 5%) $4,900 for each year. File only state taxes You sell the house on June 1, 1995. File only state taxes You figure your ACRS deduction for 1995 for the full year and then prorate that amount for the months of use. File only state taxes The full ACRS deduction for 1995 is $4,900 ($98,000 ÷ 5%). File only state taxes You then prorate this amount to the 5 months in 1995 during which it was rented. File only state taxes Your ACRS deduction for 1995 is $2,042 ($4,900 ÷ 5/12). File only state taxes Early dispositions — 18- and 19-year real property. File only state taxes   If you dispose of 18- or 19-year real property, you base your ACRS deduction for the year of disposition on the number of months in use. File only state taxes For 18-year property placed in service before June 23, 1984, use a full-month convention on a disposition. File only state taxes For 18-year property placed in service after June 22, 1984, and for 19-year property, determine the number of months in use by using the mid-month convention. File only state taxes Under the mid-month convention,treat real property disposed of any time during a month as disposed of in the middle of that month. File only state taxes Count the month of disposition as half a month of use. File only state taxes Example. File only state taxes You purchased and placed in service a rental house on July 2, 1984, for $100,000 (not including the cost of land). File only state taxes You file your return based on a calendar year. File only state taxes Your rate from Table 4 for the seventh month is 4%. File only state taxes You figured your ACRS deduction for 1984 was $4,000 ($100,000 ÷ 4%). File only state taxes In 1985 through 1994, your ACRS deductions were 9%, 8%, 8%, 7%, 6%, 6%, 5%, 5%, and 5% ÷ $100,000. File only state taxes You sell the house on September 24, 1995. File only state taxes Figure your ACRS deduction for 1995 for the months of use. File only state taxes The full ACRS deduction for 1995 is $5,000 ($100,000 ÷ 5%). File only state taxes Prorate this amount for the 8. File only state taxes 5 months in 1995 that you held the property. File only state taxes Under the mid-month convention, you count September as half a month. File only state taxes Your ACRS deduction for 1995 is $3,542 ($5,000 ÷ 8. File only state taxes 5/12). File only state taxes Depreciation Recapture If you dispose of property depreciated under ACRS that is section 1245 recovery property, you will generally recognize gain or loss. File only state taxes Gain recognized on a disposition is ordinary income to the extent of prior depreciation deductions taken. File only state taxes This recapture rule applies to all personal property in the 3-year, 5-year, and 10-year classes. File only state taxes You recapture gain on manufactured homes and theme park structures in the 10-year class as section 1245 property. File only state taxes Section 1245 property generally includes all personal property. File only state taxes See Section 1245 property in chapter 4 of Publication 544 for more information. File only state taxes You treat dispositions of section 1250 real property on which you have a gain as section 1245 recovery property. File only state taxes You recognize gain on this property as ordinary income to the extent of prior depreciation deductions taken. File only state taxes Section 1250 property includes most real property. File only state taxes See Section 1250 property in chapter 4 of Publication 544 for more information. File only state taxes This rule applies to all section 1250 real property except the following property: Any 15-, 18-, or 19-year real property that is residential rental property. File only state taxes Any 15-, 18-, or 19-year real property that you elected to depreciate using the alternate ACRS method. File only state taxes Any 15-, 18-, or 19-year real property that is subsidized low-income housing. File only state taxes For these recapture rules, you treat the section 179 deduction and 50% of the investment credit that reduced your basis as depreciation. File only state taxes See Publication 544 for further discussion of dispositions of section 1245 and 1250 property. 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