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Free 2011 tax Publication 509 - Introductory Material Table of Contents Future Developments What's New Reminders IntroductionOrdering forms and publications. Free 2011 tax Tax questions. Free 2011 tax Background Information for Using the Tax CalendarsElectronic deposit requirement. Free 2011 tax Legal holidays. Free 2011 tax Statewide legal holidays. Free 2011 tax Future Developments For the latest information about developments related to Publication 509, such as legislation enacted after it was published, go to www. Free 2011 tax irs. Free 2011 tax gov/pub509. Free 2011 tax What's New Publication 1518 discontinued after 2013. Free 2011 tax Publication 1518, IRS Tax Calendar for Small Businesses and Self-Employed, is discontinued after 2013. Free 2011 tax An IRS Tax Calendar and most of the information previously contained in Publication 1518 can be found at www. Free 2011 tax irs. Free 2011 tax gov/taxcalendar. Free 2011 tax Reminders Photographs of missing children. Free 2011 tax The Internal Revenue Service is a proud partner with the National Center for Missing and Exploited Children. Free 2011 tax Photographs of missing children selected by the Center may appear in this publication on pages that would otherwise be blank. Free 2011 tax You can help bring these children home by looking at the photographs and calling 1-800-THE-LOST (1-800-843-5678) if you recognize a child. Free 2011 tax Introduction A tax calendar is a 12-month calendar divided into quarters. Free 2011 tax The calendar gives specific due dates for: Filing tax forms, Paying taxes, and Taking other actions required by federal tax law. Free 2011 tax What does this publication contain? This publication contains the following. Free 2011 tax A section on how to use the tax calendars. Free 2011 tax Three tax calendars: General Tax Calendar, Employer's Tax Calendar, and Excise Tax Calendar. Free 2011 tax A table showing the semiweekly deposit due dates for payroll taxes for 2014. Free 2011 tax Most of the due dates discussed in this publication are also included in the IRS Tax Calendar available at www. Free 2011 tax irs. Free 2011 tax gov/taxcalendar. Free 2011 tax Who should use this publication? Primarily, employers need to use this publication. Free 2011 tax However, the General Tax Calendar has important due dates for all businesses and individuals. Free 2011 tax Anyone who must pay excise taxes may need the Excise Tax Calendar . Free 2011 tax What are the advantages of using a tax calendar? The following are advantages of using a calendar. Free 2011 tax You do not have to figure the due dates yourself. Free 2011 tax You can file or pay timely and avoid penalties. Free 2011 tax You do not have to adjust the due dates for Saturdays, Sundays, and legal holidays. Free 2011 tax You do not have to adjust the due dates for special banking rules if you use the Employer's Tax Calendar or Excise Tax Calendar . Free 2011 tax Which calendar(s) should I use? To decide which calendar(s) to use, first look at the General Tax Calendar and highlight the dates that apply to you. Free 2011 tax If you are an employer, also use the Employer's Tax Calendar . Free 2011 tax If you must pay excise taxes, use the Excise Tax Calendar . Free 2011 tax Depending on your situation, you may need to use more than one calendar. Free 2011 tax Table 1. Free 2011 tax Useful Publications IF you are. Free 2011 tax . Free 2011 tax . Free 2011 tax THEN you may need. Free 2011 tax . Free 2011 tax . Free 2011 tax An employer • Publication 15 (Circular E), Employer's Tax Guide. Free 2011 tax • Publication 15-A, Employer's Supplemental Tax Guide. Free 2011 tax • Publication 15-B, Employer's Tax Guide to Fringe Benefits. Free 2011 tax • Publication 926, Household Employer's Tax Guide. Free 2011 tax A farmer • Publication 51 (Circular A), Agricultural Employer's Tax Guide. Free 2011 tax • Publication 225, Farmer's Tax Guide. Free 2011 tax An individual • Publication 505, Tax Withholding and Estimated Tax. Free 2011 tax Required to pay excise taxes • Publication 510, Excise Taxes. Free 2011 tax What is not in these calendars? The calendars do not cover the employment or excise tax deposit rules. Free 2011 tax You can find the deposit rules for employment taxes in Publication 15 (Circular E), Employer's Tax Guide. Free 2011 tax The deposit rules for excise taxes are in Publication 510, Excise Taxes, and in the Instructions for Form 720, Quarterly Federal Excise Tax Return. Free 2011 tax In addition, the calendars do not cover filing forms and other requirements for: Estate taxes, Gift taxes, Trusts, Exempt organizations, Certain types of corporations, or Foreign partnerships. Free 2011 tax What other publications and tax forms will I need? Table 1 lists other publications you may need to order. Free 2011 tax Each calendar lists the forms you may need. Free 2011 tax See How To Get Tax Help near the end of this publication for information about getting publications and forms. Free 2011 tax Comments and suggestions. Free 2011 tax We welcome your comments about this publication and your suggestions for future editions. Free 2011 tax You can write to us at the following address: Internal Revenue Service Tax Forms and Publications Division 1111 Constitution Ave. Free 2011 tax NW, IR-6526 Washington, DC 20224 We respond to many letters by telephone. Free 2011 tax Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your correspondence. Free 2011 tax You can send us comments from www. Free 2011 tax irs. Free 2011 tax gov/formspubs. Free 2011 tax Click on More Information and then click on Comment on Tax Forms and Publications. Free 2011 tax Although we cannot respond individually to each comment received, we do appreciate your feedback and will consider your comments as we revise our forms and publications. Free 2011 tax Ordering forms and publications. Free 2011 tax Visit www. Free 2011 tax irs. Free 2011 tax gov/formspubs to download forms and publications, call 1-800-TAX-FORM (1-800-829-3676), or write to the address below and receive a response within 10 days after your request is received. Free 2011 tax Internal Revenue Service 1201 N. Free 2011 tax Mitsubishi Motorway Bloomington, IL 61705-6613 Tax questions. Free 2011 tax If you have a tax question, check the information available on IRS. Free 2011 tax gov or call 1-800-829-1040. Free 2011 tax We cannot answer tax questions sent to either of the above addresses. Free 2011 tax Background Information for Using the Tax Calendars The following brief explanations may be helpful to you in using the tax calendars. Free 2011 tax IRS e-services make taxes easier. Free 2011 tax Now more than ever before, businesses can enjoy the benefits of filing and paying their federal taxes electronically. Free 2011 tax Whether you rely on a tax professional or handle your own taxes, the IRS offers you convenient programs to make taxes easier. Free 2011 tax You can e-file your Form 1040; certain business tax returns such as Forms 1120, 1120S, and 1065; certain employment tax returns such as Forms 940 and 941; certain excise tax returns such as Forms 720, 2290, and 8849; and Form 1099 and other information returns. Free 2011 tax Visit www. Free 2011 tax irs. Free 2011 tax gov/efile for more information. Free 2011 tax You can pay taxes online or by phone using the Electronic Federal Tax Payments System (EFTPS). Free 2011 tax For detailed information about using this free service, see Electronic deposit requirement below. Free 2011 tax Use these electronic options to make filing and paying taxes easier. Free 2011 tax For more information on electronic payments, visit the IRS website at www. Free 2011 tax irs. Free 2011 tax gov/e-pay. Free 2011 tax Tax deposits. Free 2011 tax Some taxes can be paid with the return on which they are reported. Free 2011 tax However, in many cases, you have to deposit the tax before the due date for filing the return. Free 2011 tax Tax deposits are figured for periods of time that are shorter than the time period covered by the return. Free 2011 tax See Publication 15 (Circular E) for the employment tax deposit rules. Free 2011 tax For the excise tax deposit rules, see Publication 510 or the Instructions for Form 720. Free 2011 tax Electronic deposit requirement. Free 2011 tax You must use electronic funds transfer to make all federal tax deposits (such as deposits of employment tax, excise tax, and corporate income tax). Free 2011 tax Generally, electronic fund transfers are made using the Electronic Federal Tax Payment System (EFTPS). Free 2011 tax EFTPS is a free service provided by the Department of Treasury. Free 2011 tax If you do not want to use EFTPS, you can arrange for your tax professional, financial institution, payroll service, or other trusted third party to make electronic deposits on your behalf. Free 2011 tax To get more information or to enroll in EFTPS, call 1-800-555-4477 (business), 1-800-316-6541 (individual), or 1-800-733-4829 (TDD/TTY). Free 2011 tax You can also visit the EFTPS website at www. Free 2011 tax eftps. Free 2011 tax gov. Free 2011 tax Additional information about EFTPS is also available in Publication 966, Electronic Federal Tax Payment System: A Guide to Getting Started. Free 2011 tax If you fail to timely, properly, and in full make your federal tax deposit, you may be subject to a failure-to-deposit penalty. Free 2011 tax For an EFTPS deposit to be on time, you must initiate the deposit by 8 p. Free 2011 tax m. Free 2011 tax Eastern time the day before the date the deposit is due. Free 2011 tax Saturday, Sunday, or legal holiday. Free 2011 tax Generally, if a due date for performing any act for tax purposes falls on a Saturday, Sunday, or legal holiday, the act is considered to be performed timely if it is performed no later than the next day that is not a Saturday, Sunday, or legal holiday. Free 2011 tax The term legal holiday means any legal holiday in the District of Columbia. Free 2011 tax The calendars provided in this publication make the adjustment for Saturdays, Sundays, and legal holidays. Free 2011 tax But you must make any adjustments for statewide legal holidays, as discussed next. Free 2011 tax An exception to this rule for certain excise taxes is noted later under the Excise Tax Calendar. Free 2011 tax Legal holidays. Free 2011 tax Legal holidays for 2014 are listed below. Free 2011 tax January 1— New Year's Day January 20— Birthday of Martin Luther King, Jr. Free 2011 tax / Inauguration Day February 17— Washington's Birthday April 16— District of Columbia Emancipation Day May 26— Memorial Day July 4— Independence Day September 1— Labor Day October 13— Columbus Day November 11— Veterans Day November 27— Thanksgiving Day December 25— Christmas Day Statewide legal holidays. Free 2011 tax A statewide legal holiday delays a due date for filing a return only if the IRS office where you are required to file is located in that state. Free 2011 tax A statewide legal holiday does not delay a due date for making a federal tax deposit. Free 2011 tax Extended due date for Forms 1098, 1099, and W-2 if filed electronically. Free 2011 tax If you file Forms 1098, 1099, or W-2 electronically, your due date for filing them with the IRS or the Social Security Administration (SSA) will be extended to March 31. Free 2011 tax For 2014, the due date for giving the recipient these forms is January 31. Free 2011 tax For information about filing Forms 1098, 1099, or W-2G electronically, see Publication 1220, Specifications for Filing Forms 1097, 1098, 1099, 3921, 3922, 5498, 8935, and W-2G Electronically. Free 2011 tax For information about filing Form W-2 electronically with the SSA, visit www. Free 2011 tax ssa. Free 2011 tax gov/employer or call 1-800-772-6270. Free 2011 tax Penalties. Free 2011 tax Whenever possible, you should take action before the listed due date. Free 2011 tax If you are late, you may have to pay a penalty as well as interest on any overdue taxes. Free 2011 tax Be sure to follow all the tax laws that apply to you. Free 2011 tax In addition to civil penalties, criminal penalties may be imposed for intentionally not paying taxes, for intentionally filing a false return, or for not filing a required return. Free 2011 tax Use of private delivery services. Free 2011 tax You can use certain private delivery services designated by the IRS to meet the timely mailing as timely filing/paying rule for tax returns and payments. Free 2011 tax These private delivery services include only the following. Free 2011 tax DHL Express (DHL): DHL Same Day Service. Free 2011 tax Federal Express (FedEx): FedEx Priority Overnight, FedEx Standard Overnight, FedEx 2 Day, FedEx International Priority, and FedEx International First. Free 2011 tax United Parcel Service (UPS): UPS Next Day Air, UPS Next Day Air Saver, UPS 2nd Day Air, UPS 2nd Day Air A. Free 2011 tax M. Free 2011 tax , UPS Worldwide Express Plus, and UPS Worldwide Express. Free 2011 tax For the IRS mailing address to use if you are using a private delivery service, go to IRS. Free 2011 tax gov and enter “private delivery service” in the search box. Free 2011 tax The private delivery service can tell you how to get written proof of the mailing date. Free 2011 tax The U. Free 2011 tax S. Free 2011 tax Postal Service advises that private delivery services cannot deliver items to P. Free 2011 tax O. Free 2011 tax boxes. Free 2011 tax You must use the U. Free 2011 tax S. Free 2011 tax Postal Service to mail any item to an IRS P. Free 2011 tax O. Free 2011 tax box address. Free 2011 tax Prev Up Next Home More Online Publications
IRS Releases the Dirty Dozen Tax Scams for 2012
IR-2012-23, Feb. 16, 2012
WASHINGTON –– The Internal Revenue Service today issued its annual “Dirty Dozen” ranking of tax scams, reminding taxpayers to use caution during tax season to protect themselves against a wide range of schemes ranging from identity theft to return preparer fraud.
The Dirty Dozen listing, compiled by the IRS each year, lists a variety of common scams taxpayers can encounter at any point during the year. But many of these schemes peak during filing season as people prepare their tax returns.
“Taxpayers should be careful and avoid falling into a trap with the Dirty Dozen,” said IRS Commissioner Doug Shulman. “Scam artists will tempt people in-person, on-line and by e-mail with misleading promises about lost refunds and free money. Don’t be fooled by these scams.”
Illegal scams can lead to significant penalties and interest and possible criminal prosecution. The IRS Criminal Investigation Division works closely with the Department of Justice to shutdown scams and prosecute the criminals behind them.
The following is the Dirty Dozen tax scams for 2012:
Topping this year’s list Dirty Dozen list is identity theft. In response to growing identity theft concerns, the IRS has embarked on a comprehensive strategy that is focused on preventing, detecting and resolving identity theft cases as soon as possible. In addition to the law-enforcement crackdown, the IRS has stepped up its internal reviews to spot false tax returns before tax refunds are issued as well as working to help victims of the identity theft refund schemes.
Identity theft cases are among the most complex ones the IRS handles, but the agency is committed to working with taxpayers who have become victims of identity theft.
The IRS is increasingly seeing identity thieves looking for ways to use a legitimate taxpayer’s identity and personal information to file a tax return and claim a fraudulent refund.
An IRS notice informing a taxpayer that more than one return was filed in the taxpayer’s name or that the taxpayer received wages from an unknown employer may be the first tip off the individual receives that he or she has been victimized.
The IRS has a robust screening process with measures in place to stop fraudulent returns. While the IRS is continuing to address tax-related identity theft aggressively, the agency is also seeing an increase in identity crimes, including more complex schemes. In 2011, the IRS protected more than $1.4 billion of taxpayer funds from getting into the wrong hands due to identity theft.
In January, the IRS announced the results of a massive, national sweep cracking down on suspected identity theft perpetrators as part of a stepped-up effort against refund fraud and identity theft. Working with the Justice Department’s Tax Division and local U.S. Attorneys’ offices, the nationwide effort targeted 105 people in 23 states.
Anyone who believes his or her personal information has been stolen and used for tax purposes should immediately contact the IRS Identity Protection Specialized Unit. For more information, visit the special identity theft page at www.IRS.gov/identitytheft.
Phishing is a scam typically carried out with the help of unsolicited email or a fake website that poses as a legitimate site to lure in potential victims and prompt them to provide valuable personal and financial information. Armed with this information, a criminal can commit identity theft or financial theft.
If you receive an unsolicited email that appears to be from either the IRS or an organization closely linked to the IRS, such as the Electronic Federal Tax Payment System (EFTPS), report it by sending it to firstname.lastname@example.org.
It is important to keep in mind the IRS does not initiate contact with taxpayers by email to request personal or financial information. This includes any type of electronic communication, such as text messages and social media channels. The IRS has information that can help you protect yourself from email scams.
Return Preparer Fraud
About 60 percent of taxpayers will use tax professionals this year to prepare and file their tax returns. Most return preparers provide honest service to their clients. But as in any other business, there are also some who prey on unsuspecting taxpayers.
Questionable return preparers have been known to skim off their clients’ refunds, charge inflated fees for return preparation services and attract new clients by promising guaranteed or inflated refunds. Taxpayers should choose carefully when hiring a tax preparer. Federal courts have issued hundreds of injunctions ordering individuals to cease preparing returns, and the Department of Justice has pending complaints against many others.
In 2012, every paid preparer needs to have a Preparer Tax Identification Number (PTIN) and enter it on the returns he or she prepares.
Signals to watch for when you are dealing with an unscrupulous return preparer would include that they:
- Do not sign the return or place a Preparer Tax identification Number on it.
- Do not give you a copy of your tax return.
- Promise larger than normal tax refunds.
- Charge a percentage of the refund amount as preparation fee.
- Require you to split the refund to pay the preparation fee.
- Add forms to the return you have never filed before.
- Encourage you to place false information on your return, such as false income, expenses and/or credits.
For advice on how to find a competent tax professional, see Tips for Choosing a Tax Preparer.
Hiding Income Offshore
Over the years, numerous individuals have been identified as evading U.S. taxes by hiding income in offshore banks, brokerage accounts or nominee entities, using debit cards, credit cards or wire transfers to access the funds. Others have employed foreign trusts, employee-leasing schemes, private annuities or insurance plans for the same purpose.
The IRS uses information gained from its investigations to pursue taxpayers with undeclared accounts, as well as the banks and bankers suspected of helping clients hide their assets overseas. The IRS works closely with the Department of Justice to prosecute tax evasion cases.
While there are legitimate reasons for maintaining financial accounts abroad, there are reporting requirements that need to be fulfilled. U.S. taxpayers who maintain such accounts and who do not comply with reporting and disclosure requirements are breaking the law and risk significant penalties and fines, as well as the possibility of criminal prosecution.
Since 2009, 30,000 individuals have come forward voluntarily to disclose their foreign financial accounts, taking advantage of special opportunities to bring their money back into the U.S. tax system and resolve their tax obligations. And, with new foreign account reporting requirements being phased in over the next few years, hiding income offshore will become increasingly more difficult.
At the beginning of this year, the IRS reopened the Offshore Voluntary Disclosure Program (OVDP) following continued strong interest from taxpayers and tax practitioners after the closure of the 2011 and 2009 programs. The IRS continues working on a wide range of international tax issues and follows ongoing efforts with the Justice Department to pursue criminal prosecution of international tax evasion. This program will be open for an indefinite period until otherwise announced.
The IRS has collected $3.4 billion so far from people who participated in the 2009 offshore program, reflecting closures of about 95 percent of the cases from the 2009 program. On top of that, the IRS has collected an additional $1 billion from up front payments required under the 2011 program. That number will grow as the IRS processes the 2011 cases.
“Free Money” from the IRS & Tax Scams Involving Social Security
Flyers and advertisements for free money from the IRS, suggesting that the taxpayer can file a tax return with little or no documentation, have been appearing in community churches around the country. These schemes are also often spread by word of mouth as unsuspecting and well-intentioned people tell their friends and relatives.
Scammers prey on low income individuals and the elderly. They build false hopes and charge people good money for bad advice. In the end, the victims discover their claims are rejected. Meanwhile, the promoters are long gone. The IRS warns all taxpayers to remain vigilant.
There are a number of tax scams involving Social Security. For example, scammers have been known to lure the unsuspecting with promises of non-existent Social Security refunds or rebates. In another situation, a taxpayer may really be due a credit or refund but uses inflated information to complete the return.
Beware. Intentional mistakes of this kind can result in a $5,000 penalty.
False/Inflated Income and Expenses
Including income that was never earned, either as wages or as self-employment income in order to maximize refundable credits, is another popular scam. Claiming income you did not earn or expenses you did not pay in order to secure larger refundable credits such as the Earned Income Tax Credit could have serious repercussions. This could result in repaying the erroneous refunds, including interest and penalties, and in some cases, even prosecution.
Additionally, some taxpayers are filing excessive claims for the fuel tax credit. Farmers and other taxpayers who use fuel for off-highway business purposes may be eligible for the fuel tax credit. But other individuals have claimed the tax credit when their occupations or income levels make the claims unreasonable. Fraud involving the fuel tax credit is considered a frivolous tax claim and can result in a penalty of $5,000.
False Form 1099 Refund Claims
In this ongoing scam, the perpetrator files a fake information return, such as a Form 1099 Original Issue Discount (OID), to justify a false refund claim on a corresponding tax return. In some cases, individuals have made refund claims based on the bogus theory that the federal government maintains secret accounts for U.S. citizens and that taxpayers can gain access to the accounts by issuing 1099-OID forms to the IRS.
Don’t fall prey to people who encourage you to claim deductions or credits to which you are not entitled or willingly allow others to use your information to file false returns. If you are a party to such schemes, you could be liable for financial penalties or even face criminal prosecution.
Promoters of frivolous schemes encourage taxpayers to make unreasonable and outlandish claims to avoid paying the taxes they owe. The IRS has a list of frivolous tax arguments that taxpayers should avoid. These arguments are false and have been thrown out of court. While taxpayers have the right to contest their tax liabilities in court, no one has the right to disobey the law.
Falsely Claiming Zero Wages
Filing a phony information return is an illegal way to lower the amount of taxes an individual owes. Typically, a Form 4852 (Substitute Form W-2) or a “corrected” Form 1099 is used as a way to improperly reduce taxable income to zero. The taxpayer may also submit a statement rebutting wages and taxes reported by a payer to the IRS.
Sometimes, fraudsters even include an explanation on their Form 4852 that cites statutory language on the definition of wages or may include some reference to a paying company that refuses to issue a corrected Form W-2 for fear of IRS retaliation. Taxpayers should resist any temptation to participate in any variations of this scheme. Filing this type of return may result in a $5,000 penalty.
Abuse of Charitable Organizations and Deductions
IRS examiners continue to uncover the intentional abuse of 501(c)(3) organizations, including arrangements that improperly shield income or assets from taxation and attempts by donors to maintain control over donated assets or the income from donated property. The IRS is investigating schemes that involve the donation of non-cash assets –– including situations in which several organizations claim the full value of the same non-cash contribution. Often these donations are highly overvalued or the organization receiving the donation promises that the donor can repurchase the items later at a price set by the donor. The Pension Protection Act of 2006 imposed increased penalties for inaccurate appraisals and set new standards for qualified appraisals.
Disguised Corporate Ownership
Third parties are improperly used to request employer identification numbers and form corporations that obscure the true ownership of the business.
These entities can be used to underreport income, claim fictitious deductions, avoid filing tax returns, participate in listed transactions and facilitate money laundering, and financial crimes. The IRS is working with state authorities to identify these entities and bring the owners into compliance with the law.
Misuse of Trusts
For years, unscrupulous promoters have urged taxpayers to transfer assets into trusts. While there are legitimate uses of trusts in tax and estate planning, some highly questionable transactions promise reduction of income subject to tax, deductions for personal expenses and reduced estate or gift taxes. Such trusts rarely deliver the tax benefits promised and are used primarily as a means of avoiding income tax liability and hiding assets from creditors, including the IRS.
IRS personnel have seen an increase in the improper use of private annuity trusts and foreign trusts to shift income and deduct personal expenses. As with other arrangements, taxpayers should seek the advice of a trusted professional before entering a trust arrangement.
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The Free 2011 Tax
Free 2011 tax Index A Addition to property, Additions and Improvements Adjusted basis, Adjusted Basis Alternative Depreciation System (ADS) Recovery periods, Recovery Periods Under ADS Required use, Required use of ADS. Free 2011 tax Amended return, Filing an Amended Return Apartment Cooperative, Cooperative apartments. Free 2011 tax Rental, Which Property Class Applies Under GDS? Automobile (see Passenger automobile) B Basis Adjustments, Basis adjustment for depreciation allowed or allowable. Free 2011 tax , Adjustment of partner's basis in partnership. Free 2011 tax , Basis adjustment due to recapture of clean-fuel vehicle deduction or credit. Free 2011 tax , Basis adjustment due to casualty loss. Free 2011 tax Basis for depreciation, What Is the Basis for Depreciation? Casualty loss, Basis adjustment due to casualty loss. Free 2011 tax Change in use, Property changed from personal use. Free 2011 tax Cost, Cost as Basis Depreciable basis, Depreciable basis. Free 2011 tax Other than cost, Other Basis Recapture of clean-fuel vehicle deduction or credit, Basis adjustment due to recapture of clean-fuel vehicle deduction or credit. Free 2011 tax Term interest, Basis adjustments. Free 2011 tax Unadjusted, Figuring the Unadjusted Basis of Your Property Business use of property, partial, Partial business or investment use. Free 2011 tax Business-use limit, recapture of Section 179 deduction, When Must You Recapture the Deduction? Business-use requirement, listed property, What Is the Business-Use Requirement? C Car (see Passenger automobile) Carryover of section 179 deduction, Carryover of disallowed deduction. Free 2011 tax Casualty loss, effect of, Basis adjustment due to casualty loss. Free 2011 tax Changing accounting method, Changing Your Accounting Method Communication equipment (see Listed property) Commuting, Commuting use. Free 2011 tax Computer (see Listed property) Computer software, Computer software. Free 2011 tax , Off-the-shelf computer software. Free 2011 tax Containers, Containers. Free 2011 tax Conventions, Which Convention Applies? Cooperative apartment, Cooperative apartments. Free 2011 tax Copyright, Patents and copyrights. Free 2011 tax (see also Section 197 intangibles) Correcting depreciation deductions, How Do You Correct Depreciation Deductions? Cost basis, Cost as Basis D Declining balance Method, Declining Balance Method Rates, Declining balance rate. Free 2011 tax Deduction limit Automobile, Do the Passenger Automobile Limits Apply? Section 179, How Much Can You Deduct? Depreciation Deduction Employee, Can Employees Claim a Deduction? Listed property, Can Employees Claim a Deduction? Determinable useful life, Property Having a Determinable Useful Life Excepted property, Excepted Property Incorrect amount deducted, How Do You Correct Depreciation Deductions? Methods, Which Depreciation Method Applies? Property lasting more than one year, Property Lasting More Than One Year Property owned, Property You Own Property used in business, Property Used in Your Business or Income-Producing Activity Recapture, Revoking an election. Free 2011 tax , Recapture of Excess Depreciation Depreciation allowable, Basis adjustment for depreciation allowed or allowable. Free 2011 tax Depreciation allowed, Basis adjustment for depreciation allowed or allowable. Free 2011 tax Depreciation deduction Listed property, What Is the Business-Use Requirement? Determinable useful life, Property Having a Determinable Useful Life Disposition Before recovery period ends, Sale or Other Disposition Before the Recovery Period Ends General asset account property, Disposing of GAA Property Section 179 deduction, When Must You Recapture the Deduction? E Election ADS, Electing ADS. Free 2011 tax , Election of ADS. Free 2011 tax Declining balance (150% DB) method, 150% election. Free 2011 tax Exclusion from MACRS, Election To Exclude Property From MACRS General asset account, Electing To Use a GAA Not to claim special depreciation allowance, How Can You Elect Not To Claim an Allowance? Section 179 deduction, How Do You Elect the Deduction? Straight line method, Straight line election. Free 2011 tax Electric vehicle, Electric Vehicles Employee Depreciation deduction, Can Employees Claim a Deduction? How to claim depreciation, Employee. Free 2011 tax Employee deduction, listed property, Can Employees Claim a Deduction? Energy property, Energy property. Free 2011 tax Exchange of MACRS property, Property Acquired in a Like-kind Exchange or Involuntary Conversion F Farm Property, Depreciation Methods for Farm Property Figuring MACRS Using percentage tables, How Is the Depreciation Deduction Figured? Without using percentage tables, Figuring the Deduction Without Using the Tables Films, Films, video tapes, and recordings. Free 2011 tax Free tax services, Free help with your tax return. Free 2011 tax G General asset account Abusive transaction, Abusive transactions. Free 2011 tax Disposing of property, Disposing of GAA Property Grouping property in, Grouping Property Nonrecognition transaction, Nonrecognition transactions. Free 2011 tax General Depreciation System (GDS), recovery periods, Recovery Periods Under GDS Gift (see Basis, other than cost) H Help (see Tax help) I Idle property, Idle Property Improvements, How Do You Treat Repairs and Improvements?, Additions and Improvements Income forecast method, Income Forecast Method Incorrect depreciation deductions, How Do You Correct Depreciation Deductions? Indian reservation Defined, Indian reservation. Free 2011 tax Qualified infrastructure property, Qualified infrastructure property. Free 2011 tax Qualified property, Qualified property. Free 2011 tax Recovery periods for qualified property, Indian Reservation Property Related person, Related person. Free 2011 tax Inheritance (see Basis, other than cost) Intangible property Depreciation method, Intangible Property, Income Forecast Method Income forecast method, Income Forecast Method Straight line method, Intangible Property Inventory, Inventory. Free 2011 tax Investment use of property, partial, Partial business or investment use. Free 2011 tax Involuntary conversion of MACRS property, Property Acquired in a Like-kind Exchange or Involuntary Conversion L Land Not depreciable, Land Preparation costs, Land Leased property, Leased property. Free 2011 tax Leasehold improvement property, defined, Qualified leasehold improvement property. Free 2011 tax , Qualified leasehold improvement property. Free 2011 tax Life tenant, Life tenant. Free 2011 tax (see also Term interests) Limit on deduction Automobile, Do the Passenger Automobile Limits Apply? Section 179, How Much Can You Deduct? Listed property 5% owner, 5% owner. 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Free 2011 tax M Maximum deduction Electric vehicles, Electric Vehicles Passenger automobiles, Maximum Depreciation Deduction Trucks, Trucks and Vans Vans, Trucks and Vans Mobile home (see Residential rental property) Modified ACRS (MACRS) Addition or improvement, Additions and Improvements Alternative Depreciation System (ADS), Which Depreciation System (GDS or ADS) Applies? Conventions, Which Convention Applies? Declining balance method, Declining Balance Method Depreciation methods, Which Depreciation Method Applies? Farm property, Depreciation Methods for Farm Property Figuring, short tax year, Property Placed in Service in a Short Tax Year General Depreciation System (GDS), Which Depreciation System (GDS or ADS) Applies? Percentage tables, Using the MACRS Percentage Tables Property classes, Which Property Class Applies Under GDS? Recovery periods, Which Recovery Period Applies? Short tax year, Figuring the Deduction for a Short Tax Year Straight line method, Straight Line Method N Nonresidential real property, Which Property Class Applies Under GDS? Nontaxable transfer of MACRS property, Property Acquired in a Nontaxable Transfer O Office in the home, Office in the home. Free 2011 tax , Office in the home. Free 2011 tax Ownership, incidents of, Incidents of ownership. Free 2011 tax P Partial business use, Partial business use. Free 2011 tax Passenger automobile Defined, Passenger Automobiles Electric vehicles, Electric Vehicles Limit on, Do the Passenger Automobile Limits Apply? Maximum depreciation deduction, Maximum Depreciation Deduction Trucks, Trucks and Vans Vans, Trucks and Vans Patent, Patents and copyrights. Free 2011 tax (see also Section 197 intangibles) Personal property, Personal property. Free 2011 tax Phonographic equipment (see Listed property) Photographic equipment (see Listed property) Placed in service Before 1987, Property You Placed in Service Before 1987 Date, What Is the Placed in Service Date? Rule, Placed in Service Property Classes, Which Property Class Applies Under GDS? Depreciable, What Property Can Be Depreciated? Idle, Idle Property Improvements, How Do You Treat Repairs and Improvements? Leased, Leased property. Free 2011 tax , Leased property. Free 2011 tax Listed, What Is Listed Property? Personal, Personal property. Free 2011 tax Real, Real property. Free 2011 tax Retired from service, Retired From Service Tangible personal, Tangible personal property. Free 2011 tax Term interest, Certain term interests in property. Free 2011 tax Q Qualified leasehold improvement property, defined, Qualified leasehold improvement property. Free 2011 tax , Qualified leasehold improvement property. Free 2011 tax Qualified property, special depreciation allowance, What Is Qualified Property? R Real property, Real property. Free 2011 tax Recapture Clean-fuel vehicle deduction or credit, Basis adjustment due to recapture of clean-fuel vehicle deduction or credit. Free 2011 tax General asset account, abusive transaction, Abusive transactions. Free 2011 tax Listed property, Recapture of Excess Depreciation MACRS depreciation, Revoking an election. Free 2011 tax Section 179 deduction, When Must You Recapture the Deduction? Special depreciation allowance, When Must You Recapture an Allowance? Recordkeeping Listed property, Adequate Records Section 179, How Do You Elect the Deduction? Recovery periods ADS, Recovery Periods Under ADS GDS, Recovery Periods Under GDS Related persons, Related persons. Free 2011 tax , Related persons. Free 2011 tax , Related persons. Free 2011 tax , Related persons. Free 2011 tax , Related person. Free 2011 tax , Related persons. Free 2011 tax Rent-to-own property, defined, Qualified rent-to-own property. Free 2011 tax Rental home (see Residential rental property) Rented property, improvements, Improvements to rented property. Free 2011 tax Repairs, How Do You Treat Repairs and Improvements? Residential rental property, Which Property Class Applies Under GDS? Retail motor fuels outlet, Retail motor fuels outlet. Free 2011 tax Revoking ADS election, Electing ADS. Free 2011 tax General asset account election, Revoking an election. Free 2011 tax Section 179 election, Revoking an election. Free 2011 tax S Sale of property, Sale or Other Disposition Before the Recovery Period Ends Section 179 deduction Business use required, Partial business use. Free 2011 tax Carryover, Carryover of disallowed deduction. Free 2011 tax Dispositions, When Must You Recapture the Deduction? Electing, How Do You Elect the Deduction? Limits Business (taxable) income, Business Income Limit Business-use, recapture, When Must You Recapture the Deduction? Dollar, Dollar Limits Enterprise zone business, Enterprise Zone Businesses Partial business use, Partial business use. Free 2011 tax Married filing separate returns, Married Individuals Partnership rules, Partnerships and Partners Property Eligible, Eligible Property Excepted, Excepted Property Purchase required, Property Acquired by Purchase Recapture, When Must You Recapture the Deduction? Recordkeeping, How Do You Elect the Deduction? S corporation rules, S Corporations Settlement fees, Settlement costs. Free 2011 tax Short tax year Figuring depreciation, Property Placed in Service in a Short Tax Year Figuring placed-in-service date, Using the Applicable Convention in a Short Tax Year Software, computer, Computer software. Free 2011 tax , Off-the-shelf computer software. Free 2011 tax Sound recording, Films, video tapes, and recordings. Free 2011 tax Special depreciation allowance Election not to claim, How Can You Elect Not To Claim an Allowance? Qualified property, What Is Qualified Property? Recapture, When Must You Recapture an Allowance? Stock, constructive ownership of, Constructive ownership of stock or partnership interest. Free 2011 tax Straight line method, Intangible Property, Straight Line Method Created intangibles, Certain created intangibles. Free 2011 tax T Tangible personal property, Tangible personal property. Free 2011 tax Term interest, Certain term interests in property. Free 2011 tax Trade-in of property, Trade-in of other property. Free 2011 tax Trucks, Trucks and Vans U Unadjusted basis, Figuring the Unadjusted Basis of Your Property Useful life, Property Having a Determinable Useful Life V Vans, Trucks and Vans Video tape, Films, video tapes, and recordings. Free 2011 tax Video-recording equipment (see Listed property) W When to use ADS, Which Depreciation System (GDS or ADS) Applies? Worksheet Leased listed property, Inclusion amount worksheet. Free 2011 tax MACRS, MACRS Worksheet Prev Up Home More Online Publications