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Free e-file state taxes only 3. Free e-file state taxes only   Rent Expense Table of Contents Introduction Topics - This chapter discusses: RentConditional sales contract. Free e-file state taxes only Leveraged leases. Free e-file state taxes only Leveraged leases of limited-use property. Free e-file state taxes only Taxes on Leased Property Cost of Getting a Lease Improvements by Lessee Capitalizing Rent Expenses Introduction This chapter discusses the tax treatment of rent or lease payments you make for property you use in your business but do not own. Free e-file state taxes only It also discusses how to treat other kinds of payments you make that are related to your use of this property. Free e-file state taxes only These include payments you make for taxes on the property. Free e-file state taxes only Topics - This chapter discusses: The definition of rent Taxes on leased property The cost of getting a lease Improvements by the lessee Capitalizing rent expenses Rent Rent is any amount you pay for the use of property you do not own. Free e-file state taxes only In general, you can deduct rent as an expense only if the rent is for property you use in your trade or business. Free e-file state taxes only If you have or will receive equity in or title to the property, the rent is not deductible. Free e-file state taxes only Unreasonable rent. Free e-file state taxes only   You cannot take a rental deduction for unreasonable rent. Free e-file state taxes only Ordinarily, the issue of reasonableness arises only if you and the lessor are related. Free e-file state taxes only Rent paid to a related person is reasonable if it is the same amount you would pay to a stranger for use of the same property. Free e-file state taxes only Rent is not unreasonable just because it is figured as a percentage of gross sales. Free e-file state taxes only For examples of related persons, see Related persons in chapter 2, Publication 544. Free e-file state taxes only Rent on your home. Free e-file state taxes only   If you rent your home and use part of it as your place of business, you may be able to deduct the rent you pay for that part. Free e-file state taxes only You must meet the requirements for business use of your home. Free e-file state taxes only For more information, see Business use of your home in chapter 1. Free e-file state taxes only Rent paid in advance. Free e-file state taxes only   Generally, rent paid in your trade or business is deductible in the year paid or accrued. Free e-file state taxes only If you pay rent in advance, you can deduct only the amount that applies to your use of the rented property during the tax year. Free e-file state taxes only You can deduct the rest of your payment only over the period to which it applies. Free e-file state taxes only Example 1. Free e-file state taxes only You are a calendar year taxpayer and you leased a building for 5 years beginning July 1. Free e-file state taxes only Your rent is $12,000 per year. Free e-file state taxes only You paid the first year's rent ($12,000) on June 30. Free e-file state taxes only You can deduct only $6,000 (6/12 × $12,000) for the rent that applies to the first year. Free e-file state taxes only Example 2. Free e-file state taxes only You are a calendar year taxpayer. Free e-file state taxes only Last January you leased property for 3 years for $6,000 a year. Free e-file state taxes only You paid the full $18,000 (3 × $6,000) during the first year of the lease. Free e-file state taxes only Each year you can deduct only $6,000, the part of the lease that applies to that year. Free e-file state taxes only Canceling a lease. Free e-file state taxes only   You generally can deduct as rent an amount you pay to cancel a business lease. Free e-file state taxes only Lease or purchase. Free e-file state taxes only   There may be instances in which you must determine whether your payments are for rent or for the purchase of the property. Free e-file state taxes only You must first determine whether your agreement is a lease or a conditional sales contract. Free e-file state taxes only Payments made under a conditional sales contract are not deductible as rent expense. Free e-file state taxes only Conditional sales contract. Free e-file state taxes only   Whether an agreement is a conditional sales contract depends on the intent of the parties. Free e-file state taxes only Determine intent based on the provisions of the agreement and the facts and circumstances that exist when you make the agreement. Free e-file state taxes only No single test, or special combination of tests, always applies. Free e-file state taxes only However, in general, an agreement may be considered a conditional sales contract rather than a lease if any of the following is true. Free e-file state taxes only The agreement applies part of each payment toward an equity interest you will receive. Free e-file state taxes only You get title to the property after you make a stated amount of required payments. Free e-file state taxes only The amount you must pay to use the property for a short time is a large part of the amount you would pay to get title to the property. Free e-file state taxes only You pay much more than the current fair rental value of the property. Free e-file state taxes only You have an option to buy the property at a nominal price compared to the value of the property when you may exercise the option. Free e-file state taxes only Determine this value when you make the agreement. Free e-file state taxes only You have an option to buy the property at a nominal price compared to the total amount you have to pay under the agreement. Free e-file state taxes only The agreement designates part of the payments as interest, or that part is easy to recognize as interest. Free e-file state taxes only Leveraged leases. Free e-file state taxes only   Leveraged lease transactions may not be considered leases. Free e-file state taxes only Leveraged leases generally involve three parties: a lessor, a lessee, and a lender to the lessor. Free e-file state taxes only Usually the lease term covers a large part of the useful life of the leased property, and the lessee's payments to the lessor are enough to cover the lessor's payments to the lender. Free e-file state taxes only   If you plan to take part in what appears to be a leveraged lease, you may want to get an advance ruling. Free e-file state taxes only Revenue Procedure 2001-28 on page 1156 of Internal Revenue Bulletin 2001-19 contains the guidelines the IRS will use to determine if a leveraged lease is a lease for federal income tax purposes. Free e-file state taxes only Revenue Procedure 2001-29 on page 1160 of the same Internal Revenue Bulletin provides the information required to be furnished in a request for an advance ruling on a leveraged lease transaction. Free e-file state taxes only Internal Revenue Bulletin 2001-19 is available at www. Free e-file state taxes only irs. Free e-file state taxes only gov/pub/irs-irbs/irb01-19. Free e-file state taxes only pdf. Free e-file state taxes only   In general, Revenue Procedure 2001-28 provides that, for advance ruling purposes only, the IRS will consider the lessor in a leveraged lease transaction to be the owner of the property and the transaction to be a valid lease if all the factors in the revenue procedure are met, including the following. Free e-file state taxes only The lessor must maintain a minimum unconditional “at risk” equity investment in the property (at least 20% of the cost of the property) during the entire lease term. Free e-file state taxes only The lessee may not have a contractual right to buy the property from the lessor at less than fair market value when the right is exercised. Free e-file state taxes only The lessee may not invest in the property, except as provided by Revenue Procedure 2001-28. Free e-file state taxes only The lessee may not lend any money to the lessor to buy the property or guarantee the loan used by the lessor to buy the property. Free e-file state taxes only The lessor must show that it expects to receive a profit apart from the tax deductions, allowances, credits, and other tax attributes. Free e-file state taxes only   The IRS may charge you a user fee for issuing a tax ruling. Free e-file state taxes only For more information, see Revenue Procedure 2014-1 available at  www. Free e-file state taxes only irs. Free e-file state taxes only gov/irb/2014-1_IRB/ar05. Free e-file state taxes only html. Free e-file state taxes only Leveraged leases of limited-use property. Free e-file state taxes only   The IRS will not issue advance rulings on leveraged leases of so-called limited-use property. Free e-file state taxes only Limited-use property is property not expected to be either useful to or usable by a lessor at the end of the lease term except for continued leasing or transfer to a lessee. Free e-file state taxes only See Revenue Procedure 2001-28 for examples of limited-use property and property that is not limited-use property. Free e-file state taxes only Leases over $250,000. Free e-file state taxes only   Special rules are provided for certain leases of tangible property. Free e-file state taxes only The rules apply if the lease calls for total payments of more than $250,000 and any of the following apply. Free e-file state taxes only Rents increase during the lease. Free e-file state taxes only Rents decrease during the lease. Free e-file state taxes only Rents are deferred (rent is payable after the end of the calendar year following the calendar year in which the use occurs and the rent is allocated). Free e-file state taxes only Rents are prepaid (rent is payable before the end of the calendar year preceding the calendar year in which the use occurs and the rent is allocated). Free e-file state taxes only These rules do not apply if your lease specifies equal amounts of rent for each month in the lease term and all rent payments are due in the calendar year to which the rent relates (or in the preceding or following calendar year). Free e-file state taxes only   Generally, if the special rules apply, you must use an accrual method of accounting (and time value of money principles) for your rental expenses, regardless of your overall method of accounting. Free e-file state taxes only In addition, in certain cases in which the IRS has determined that a lease was designed to achieve tax avoidance, you must take rent and stated or imputed interest into account under a constant rental accrual method in which the rent is treated as accruing ratably over the entire lease term. Free e-file state taxes only For details, see section 467 of the Internal Revenue Code. Free e-file state taxes only Taxes on Leased Property If you lease business property, you can deduct as additional rent any taxes you have to pay to or for the lessor. Free e-file state taxes only When you can deduct these taxes as additional rent depends on your accounting method. Free e-file state taxes only Cash method. Free e-file state taxes only   If you use the cash method of accounting, you can deduct the taxes as additional rent only for the tax year in which you pay them. Free e-file state taxes only Accrual method. Free e-file state taxes only   If you use an accrual method of accounting, you can deduct taxes as additional rent for the tax year in which you can determine all the following. Free e-file state taxes only That you have a liability for taxes on the leased property. Free e-file state taxes only How much the liability is. Free e-file state taxes only That economic performance occurred. Free e-file state taxes only   The liability and amount of taxes are determined by state or local law and the lease agreement. Free e-file state taxes only Economic performance occurs as you use the property. Free e-file state taxes only Example 1. Free e-file state taxes only Oak Corporation is a calendar year taxpayer that uses an accrual method of accounting. Free e-file state taxes only Oak leases land for use in its business. Free e-file state taxes only Under state law, owners of real property become liable (incur a lien on the property) for real estate taxes for the year on January 1 of that year. Free e-file state taxes only However, they do not have to pay these taxes until July 1 of the next year (18 months later) when tax bills are issued. Free e-file state taxes only Under the terms of the lease, Oak becomes liable for the real estate taxes in the later year when the tax bills are issued. Free e-file state taxes only If the lease ends before the tax bill for a year is issued, Oak is not liable for the taxes for that year. Free e-file state taxes only Oak cannot deduct the real estate taxes as rent until the tax bill is issued. Free e-file state taxes only This is when Oak's liability under the lease becomes fixed. Free e-file state taxes only Example 2. Free e-file state taxes only The facts are the same as in Example 1 except that, according to the terms of the lease, Oak becomes liable for the real estate taxes when the owner of the property becomes liable for them. Free e-file state taxes only As a result, Oak will deduct the real estate taxes as rent on its tax return for the earlier year. Free e-file state taxes only This is the year in which Oak's liability under the lease becomes fixed. Free e-file state taxes only Cost of Getting a Lease You may either enter into a new lease with the lessor of the property or get an existing lease from another lessee. Free e-file state taxes only Very often when you get an existing lease from another lessee, you must pay the previous lessee money to get the lease, besides having to pay the rent on the lease. Free e-file state taxes only If you get an existing lease on property or equipment for your business, you generally must amortize any amount you pay to get that lease over the remaining term of the lease. Free e-file state taxes only For example, if you pay $10,000 to get a lease and there are 10 years remaining on the lease with no option to renew, you can deduct $1,000 each year. Free e-file state taxes only The cost of getting an existing lease of tangible property is not subject to the amortization rules for section 197 intangibles discussed in chapter 8. Free e-file state taxes only Option to renew. Free e-file state taxes only   The term of the lease for amortization includes all renewal options plus any other period for which you and the lessor reasonably expect the lease to be renewed. Free e-file state taxes only However, this applies only if less than 75% of the cost of getting the lease is for the term remaining on the purchase date (not including any period for which you may choose to renew, extend, or continue the lease). Free e-file state taxes only Allocate the lease cost to the original term and any option term based on the facts and circumstances. Free e-file state taxes only In some cases, it may be appropriate to make the allocation using a present value computation. Free e-file state taxes only For more information, see Regulations section 1. Free e-file state taxes only 178-1(b)(5). Free e-file state taxes only Example 1. Free e-file state taxes only You paid $10,000 to get a lease with 20 years remaining on it and two options to renew for 5 years each. Free e-file state taxes only Of this cost, you paid $7,000 for the original lease and $3,000 for the renewal options. Free e-file state taxes only Because $7,000 is less than 75% of the total $10,000 cost of the lease (or $7,500), you must amortize the $10,000 over 30 years. Free e-file state taxes only That is the remaining life of your present lease plus the periods for renewal. Free e-file state taxes only Example 2. Free e-file state taxes only The facts are the same as in Example 1, except that you paid $8,000 for the original lease and $2,000 for the renewal options. Free e-file state taxes only You can amortize the entire $10,000 over the 20-year remaining life of the original lease. Free e-file state taxes only The $8,000 cost of getting the original lease was not less than 75% of the total cost of the lease (or $7,500). Free e-file state taxes only Cost of a modification agreement. Free e-file state taxes only   You may have to pay an additional “rent” amount over part of the lease period to change certain provisions in your lease. Free e-file state taxes only You must capitalize these payments and amortize them over the remaining period of the lease. Free e-file state taxes only You cannot deduct the payments as additional rent, even if they are described as rent in the agreement. Free e-file state taxes only Example. Free e-file state taxes only You are a calendar year taxpayer and sign a 20-year lease to rent part of a building starting on January 1. Free e-file state taxes only However, before you occupy it, you decide that you really need less space. Free e-file state taxes only The lessor agrees to reduce your rent from $7,000 to $6,000 per year and to release the excess space from the original lease. Free e-file state taxes only In exchange, you agree to pay an additional rent amount of $3,000, payable in 60 monthly installments of $50 each. Free e-file state taxes only   You must capitalize the $3,000 and amortize it over the 20-year term of the lease. Free e-file state taxes only Your amortization deduction each year will be $150 ($3,000 ÷ 20). Free e-file state taxes only You cannot deduct the $600 (12 × $50) that you will pay during each of the first 5 years as rent. Free e-file state taxes only Commissions, bonuses, and fees. Free e-file state taxes only   Commissions, bonuses, fees, and other amounts you pay to get a lease on property you use in your business are capital costs. Free e-file state taxes only You must amortize these costs over the term of the lease. Free e-file state taxes only Loss on merchandise and fixtures. Free e-file state taxes only   If you sell at a loss merchandise and fixtures that you bought solely to get a lease, the loss is a cost of getting the lease. Free e-file state taxes only You must capitalize the loss and amortize it over the remaining term of the lease. Free e-file state taxes only Improvements by Lessee If you add buildings or make other permanent improvements to leased property, depreciate the cost of the improvements using the modified accelerated cost recovery system (MACRS). Free e-file state taxes only Depreciate the property over its appropriate recovery period. Free e-file state taxes only You cannot amortize the cost over the remaining term of the lease. Free e-file state taxes only If you do not keep the improvements when you end the lease, figure your gain or loss based on your adjusted basis in the improvements at that time. Free e-file state taxes only For more information, see the discussion of MACRS in Publication 946, How To Depreciate Property. Free e-file state taxes only Assignment of a lease. Free e-file state taxes only   If a long-term lessee who makes permanent improvements to land later assigns all lease rights to you for money and you pay the rent required by the lease, the amount you pay for the assignment is a capital investment. Free e-file state taxes only If the rental value of the leased land increased since the lease began, part of your capital investment is for that increase in the rental value. Free e-file state taxes only The rest is for your investment in the permanent improvements. Free e-file state taxes only   The part that is for the increased rental value of the land is a cost of getting a lease, and you amortize it over the remaining term of the lease. Free e-file state taxes only You can depreciate the part that is for your investment in the improvements over the recovery period of the property as discussed earlier, without regard to the lease term. Free e-file state taxes only Capitalizing Rent Expenses Under the uniform capitalization rules, you must capitalize the direct costs and part of the indirect costs for certain production or resale activities. Free e-file state taxes only Include these costs in the basis of property you produce or acquire for resale, rather than claiming them as a current deduction. Free e-file state taxes only You recover the costs through depreciation, amortization, or cost of goods sold when you use, sell, or otherwise dispose of the property. Free e-file state taxes only Indirect costs include amounts incurred for renting or leasing equipment, facilities, or land. Free e-file state taxes only Uniform capitalization rules. Free e-file state taxes only   You may be subject to the uniform capitalization rules if you do any of the following, unless the property is produced for your use other than in a business or an activity carried on for profit. Free e-file state taxes only Produce real property or tangible personal property. Free e-file state taxes only For this purpose, tangible personal property includes a film, sound recording, video tape, book, or similar property. Free e-file state taxes only Acquire property for resale. Free e-file state taxes only However, these rules do not apply to the following property. Free e-file state taxes only Personal property you acquire for resale if your average annual gross receipts are $10 million or less for the 3 prior tax years. Free e-file state taxes only Property you produce if you meet either of the following conditions. Free e-file state taxes only Your indirect costs of producing the property are $200,000 or less. Free e-file state taxes only You use the cash method of accounting and do not account for inventories. Free e-file state taxes only Example 1. Free e-file state taxes only You rent construction equipment to build a storage facility. Free e-file state taxes only If you are subject to the uniform capitalization rules, you must capitalize as part of the cost of the building the rent you paid for the equipment. Free e-file state taxes only You recover your cost by claiming a deduction for depreciation on the building. Free e-file state taxes only Example 2. Free e-file state taxes only You rent space in a facility to conduct your business of manufacturing tools. Free e-file state taxes only If you are subject to the uniform capitalization rules, you must include the rent you paid to occupy the facility in the cost of the tools you produce. Free e-file state taxes only More information. Free e-file state taxes only   For more information on these rules, see Uniform Capitalization Rules in Publication 538 and the regulations under Internal Revenue Code section 263A. Free e-file state taxes only Prev  Up  Next   Home   More Online Publications
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The Free E-file State Taxes Only

Free e-file state taxes only Index A Abatement of interest and penalties, Abatement of interest and penalties. Free e-file state taxes only Accidents, Deductible losses. Free e-file state taxes only , Nondeductible losses. Free e-file state taxes only Adjusted basis, Adjusted Basis Adjustments to basis, Basis adjustment to corporation's property. Free e-file state taxes only , Adjustments to Basis Amended returns, Amended return. Free e-file state taxes only Appraisals, Appraisal. Free e-file state taxes only , Costs of photographs and appraisals. Free e-file state taxes only Assistance (see Tax help) B Bad debts, Nonbusiness bad debt. Free e-file state taxes only Basis Adjusted, Adjusted Basis Adjustments to, Basis adjustment to corporation's property. Free e-file state taxes only , Adjustments to Basis Replacement property, Basis of replacement property. Free e-file state taxes only Business or income-producing property, Business or income-producing property. Free e-file state taxes only Business purposes, property used partly for, Property used partly for business and partly for personal purposes. Free e-file state taxes only C Cars Accidents, Deductible losses. Free e-file state taxes only Fair market value of, Car value. Free e-file state taxes only Cash gifts, Cash gifts. Free e-file state taxes only Casualty losses, Table 3. Free e-file state taxes only When To Deduct a Casualty or Theft Loss Deductible losses, Deductible losses. Free e-file state taxes only Definition, Casualty Deposits, loss on, Casualty loss or ordinary loss. Free e-file state taxes only Nondeductible losses, Nondeductible losses. Free e-file state taxes only Progressive deterioration, Progressive deterioration. Free e-file state taxes only Proof of, Casualty loss proof. Free e-file state taxes only When to report, Losses. Free e-file state taxes only Workbooks for listing property, Workbooks for casualties and thefts. Free e-file state taxes only Clean up costs, Cost of cleaning up or making repairs. Free e-file state taxes only Condemnation, Condemnations. Free e-file state taxes only Corrosive drywall, Special Procedure for Damage From Corrosive Drywall Costs Appraisals, Costs of photographs and appraisals. Free e-file state taxes only Clean up, Cost of cleaning up or making repairs. Free e-file state taxes only Incidental expenses, Related expenses. Free e-file state taxes only Landscaping, Landscaping. Free e-file state taxes only Photographs taken after loss, Costs of photographs and appraisals. Free e-file state taxes only Protection, Cost of protection. Free e-file state taxes only Repair, Cost of cleaning up or making repairs. Free e-file state taxes only Replacement, Replacement cost. Free e-file state taxes only D Death of taxpayer Postponement of gain, Death of a taxpayer. Free e-file state taxes only Deductible losses, Deductible losses. Free e-file state taxes only Deduction limits, Deduction Limits $100 rule, $100 Rule 10% rule, 10% Rule 2% rule, 2% Rule Deposit losses, Mislaid or lost property. Free e-file state taxes only , Table 3. Free e-file state taxes only When To Deduct a Casualty or Theft Loss Reporting of (Table 1), Table 1. Free e-file state taxes only Reporting Loss on Deposits When to report, Loss on deposits. Free e-file state taxes only Disaster area losses, Lessee's loss. Free e-file state taxes only Claiming on amended return, Claiming a disaster loss on an amended return. Free e-file state taxes only Federal loan canceled, Federal loan canceled. Free e-file state taxes only Federally declared disaster, Business or income-producing property located in a federally declared disaster area. Free e-file state taxes only , Disaster Area Losses Figuring loss deduction, Figuring the loss deduction. Free e-file state taxes only Form 1040X, How to report the loss on Form 1040X. Free e-file state taxes only Home made unsafe, Home made unsafe by disaster. Free e-file state taxes only How to deduct loss in preceding year, How to deduct your loss in the preceding year. Free e-file state taxes only Inventory, Disaster loss to inventory. Free e-file state taxes only Main home rules, Main home in disaster area. Free e-file state taxes only , Gains. Free e-file state taxes only Qualified disaster mitigation payments, Qualified disaster mitigation payments. Free e-file state taxes only Qualified disaster relief payments, Qualified disaster relief payments. Free e-file state taxes only Records to keep, Records. Free e-file state taxes only Tax deadlines postponed, Covered disaster area. Free e-file state taxes only When to deduct, When to deduct the loss. Free e-file state taxes only Table 3, Table 3. Free e-file state taxes only When To Deduct a Casualty or Theft Loss Disaster mitigation payments, Qualified disaster mitigation payments. Free e-file state taxes only Disaster relief grants, Disaster relief. Free e-file state taxes only Drywall, corrosive, Special Procedure for Damage From Corrosive Drywall Due dates Tax deadlines postponed, Postponed Tax Deadlines E Employer's emergency disaster fund, Employer's emergency disaster fund. Free e-file state taxes only F Fair market value (FMV) Decline in value of property in or near casualty area, Decline in market value of property in or near casualty area. Free e-file state taxes only Measuring decrease in, Decrease in Fair Market Value Items not to consider, Figuring Decrease in FMV — Items Not To Consider Items to consider, Figuring Decrease in FMV — Items To Consider Federal disaster relief grants, Federal disaster relief grants. Free e-file state taxes only Federal Emergency Management Agency (FEMA), contacting, Contacting the Federal Emergency Management Agency (FEMA) Federally declared disasters, Business or income-producing property located in a federally declared disaster area. Free e-file state taxes only , Disaster Area Losses Figuring gain, Property used partly for business and partly for personal purposes. Free e-file state taxes only Figuring loss, Theft loss proof. Free e-file state taxes only , Figuring the Deduction Adjusted basis, Adjusted Basis Disaster area losses, Figuring the loss deduction. Free e-file state taxes only Insurance and other reimbursements, Insurance and Other Reimbursements Form 1040, Schedule A, Personal-use property. Free e-file state taxes only Form 1040, Schedule D, Personal-use property. Free e-file state taxes only Form 1040X Disaster area losses, How to report the loss on Form 1040X. Free e-file state taxes only Form 4684 Reporting gains and losses on personal-use property, Personal-use property. Free e-file state taxes only Free tax services, Free help with your tax return. Free e-file state taxes only G Gains Figuring, Figuring a Gain Postponement of, Postponement of Gain, How To Postpone a Gain Reimbursements, Gain from reimbursement. Free e-file state taxes only Reporting of, Contacting the Federal Emergency Management Agency (FEMA) When to report, Changing your mind. Free e-file state taxes only H Help (see Tax help) I Incidental expenses, Related expenses. Free e-file state taxes only Insurance, Insurance and Other Reimbursements Living expenses, payments for, Insurance payments for living expenses. Free e-file state taxes only Interest abatement, Abatement of interest and penalties. Free e-file state taxes only Inventory losses, Loss of inventory. Free e-file state taxes only Disaster area losses, Disaster loss to inventory. Free e-file state taxes only L Landscaping, Landscaping. Free e-file state taxes only Leased property, Leased property. Free e-file state taxes only When to report, Lessee's loss. Free e-file state taxes only Losses Casualty (see Casualty losses) Deposits (see Deposit losses) Disaster areas (see Disaster area losses) Figuring amount (see Figuring loss) Proof of, Deducted loss recovered. Free e-file state taxes only Records of, Theft loss proof. Free e-file state taxes only Reporting of, Contacting the Federal Emergency Management Agency (FEMA) Theft (see Theft losses) When to report, Changing your mind. Free e-file state taxes only (Table 3), Table 3. Free e-file state taxes only When To Deduct a Casualty or Theft Loss M Married taxpayers Deduction limits, Married taxpayers. Free e-file state taxes only , Married taxpayers. Free e-file state taxes only Mislaid or lost property, Mislaid or lost property. Free e-file state taxes only Missing children, photographs of, Reminders N Nonbusiness bad debts, Nonbusiness bad debt. Free e-file state taxes only Nondeductible losses, Nondeductible losses. Free e-file state taxes only P Payments for living expenses, Insurance payments for living expenses. Free e-file state taxes only Penalty abatement, Abatement of interest and penalties. Free e-file state taxes only Personal property Loss deduction, figuring of, Personal property. Free e-file state taxes only Personal-use property Reporting gains and losses, Personal-use property. Free e-file state taxes only Personal-use real property, Exception for personal-use real property. Free e-file state taxes only Photographs Documentation of loss, Costs of photographs and appraisals. Free e-file state taxes only Ponzi-type investment schemes, Losses from Ponzi-type investment schemes. Free e-file state taxes only Postponed tax deadlines, Postponed Tax Deadlines Postponement of gain, Postponement of Gain, How To Postpone a Gain Amended return, Amended return. Free e-file state taxes only Changing mind, Changing your mind. Free e-file state taxes only Replacement property acquired after return filed, Replacement property acquired after return filed. Free e-file state taxes only Replacement property acquired before return filed, Replacement property acquired before return filed. Free e-file state taxes only Required statement, Required statement. Free e-file state taxes only Substituting replacement property, Substituting replacement property. Free e-file state taxes only Three-year limit, Three-year limit. Free e-file state taxes only Proof of loss, Proof of Loss Protection costs, Cost of protection. Free e-file state taxes only Publications (see Tax help) R Records of loss, Theft loss proof. Free e-file state taxes only Recovered stolen property, Recovered stolen property. Free e-file state taxes only Reimbursements Cash gifts, Cash gifts. Free e-file state taxes only Disaster relief, Disaster relief. Free e-file state taxes only Employer's emergency disaster fund, Employer's emergency disaster fund. Free e-file state taxes only Failure to file a claim, Failure to file a claim for reimbursement. Free e-file state taxes only Received after deducting loss, Reimbursement Received After Deducting Loss Types of, Types of Reimbursements Related expenses, Related expenses. Free e-file state taxes only Related person, replacement property bought from, Buying replacement property from a related person. Free e-file state taxes only Repair costs, Cost of cleaning up or making repairs. Free e-file state taxes only Replacement cost, Replacement cost. Free e-file state taxes only Replacement period, Replacement Period Extension of, Extension. Free e-file state taxes only Replacement property, Replacement Property Advance payment, Advance payment. Free e-file state taxes only Basis adjustment to corporation's property, Basis adjustment to corporation's property. Free e-file state taxes only Basis of, Basis of replacement property. Free e-file state taxes only Main home, Main home replaced. Free e-file state taxes only In disaster area, Main home in disaster area. Free e-file state taxes only Postponement of gain, Replacement property acquired before return filed. Free e-file state taxes only Reporting gains and losses, Reporting a gain. Free e-file state taxes only , How To Report Gains and Losses Basis, adjustments to, Adjustments to Basis Business and income-producing property, Business and income-producing property. Free e-file state taxes only Deductions exceeding income, If Deductions Are More Than Income Deposits, How to report. Free e-file state taxes only Table 1, Table 1. Free e-file state taxes only Reporting Loss on Deposits Disaster area losses, How to report the loss on Form 1040X. Free e-file state taxes only Personal-use property, Personal-use property. Free e-file state taxes only Timing of, When To Report Gains and Losses S Sentimental value, Sentimental value. Free e-file state taxes only State disaster relief grants for businesses, State disaster relief grants for businesses. Free e-file state taxes only Stolen property (see Theft losses) T Tables and figures Reporting loss on deposits (Table 1), Table 1. Free e-file state taxes only Reporting Loss on Deposits When to deduct losses (Table 3), Table 3. Free e-file state taxes only When To Deduct a Casualty or Theft Loss Tax help, How To Get Tax Help Theft losses, Theft FMV of stolen property, FMV of stolen property. Free e-file state taxes only Mislaid or lost property, Mislaid or lost property. Free e-file state taxes only Proof of, Theft loss proof. Free e-file state taxes only When to deduct (Table 3), Table 3. Free e-file state taxes only When To Deduct a Casualty or Theft Loss When to report, Losses. Free e-file state taxes only Workbooks for listing property, Workbooks for casualties and thefts. Free e-file state taxes only Timber loss, Timber loss. Free e-file state taxes only W Workbooks for property lost due to casualties and thefts, Workbooks for casualties and thefts. Free e-file state taxes only Prev  Up     Home   More Online Publications