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H&r Block Amended Tax Return

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H&r Block Amended Tax Return

H&r block amended tax return Publication 597 - Main Content Table of Contents Application of Treaty Personal Services Pensions, Annuities, Social Security, and AlimonyRoth IRAs. H&r block amended tax return Tax-deferred plans. H&r block amended tax return Investment Income From Canadian Sources Other Income Charitable ContributionsQualified charities. H&r block amended tax return Income Tax Credits Competent Authority Assistance How To Get Tax HelpText of Treaty U. H&r block amended tax return S. H&r block amended tax return Taxation Canadian Taxation Application of Treaty The benefits of the income tax treaty are generally provided on the basis of residence for income tax purposes. H&r block amended tax return That is, a person who is recognized as a resident of the United States who has income from Canada, will often pay less income tax to Canada on that income than if no treaty was in effect. H&r block amended tax return Article IV provides definitions of residents of Canada and the United States, and provides specific criteria for applying the treaty in cases where a taxpayer is considered by both countries to be a resident. H&r block amended tax return Saving clause. H&r block amended tax return   In most instances, a treaty does not affect the right of a country to tax its own residents (including those who are U. H&r block amended tax return S. H&r block amended tax return citizens) or of the United States to tax its residents or citizens (including U. H&r block amended tax return S. H&r block amended tax return citizens who are residents of the foreign country). H&r block amended tax return This provision is known as the “saving clause. H&r block amended tax return ”   For example, an individual who is a U. H&r block amended tax return S. H&r block amended tax return citizen and a resident of Canada may have dividend income from a U. H&r block amended tax return S. H&r block amended tax return corporation. H&r block amended tax return The treaty provides a maximum rate of 15% on dividends received by a resident of Canada from sources in the United States. H&r block amended tax return Even though a resident of Canada, the individual is a U. H&r block amended tax return S. H&r block amended tax return citizen and the saving clause overrides the treaty article that limits the U. H&r block amended tax return S. H&r block amended tax return tax to 15%. H&r block amended tax return    Exceptions to the saving clause can be found in Article XXIX, paragraph 3. H&r block amended tax return Treaty-based position. H&r block amended tax return   If you take the position that any U. H&r block amended tax return S. H&r block amended tax return tax is overruled or otherwise reduced by a U. H&r block amended tax return S. H&r block amended tax return treaty (a treaty-based position), you generally must disclose that position on Form 8833, Treaty-Based Return Position Disclosure Under Section 6114 or 7701(b), and attach it to your return. H&r block amended tax return Personal Services A U. H&r block amended tax return S. H&r block amended tax return citizen or resident who is temporarily present in Canada during the tax year is exempt from Canadian income taxes on pay for services performed, or remittances received from the United States, if the citizen or resident qualifies under one of the treaty exemption provisions set out below. H&r block amended tax return Income from employment (Article XV). H&r block amended tax return   Income U. H&r block amended tax return S. H&r block amended tax return residents receive for the performance of dependent personal services in Canada (except as public entertainers) is exempt from Canadian tax if it is not more than $10,000 in Canadian currency for the year. H&r block amended tax return If it is more than $10,000 for the year, it is exempt only if: The residents are present in Canada for no more than 183 days in any 12-month period beginning or ending in the year concerned, and The income is not paid by, or on behalf of, a Canadian resident and is not borne by a permanent establishment in Canada. H&r block amended tax return    Whether there is a permanent establishment in Canada is determined by the rules set forth in Article V. H&r block amended tax return Example. H&r block amended tax return You are a U. H&r block amended tax return S. H&r block amended tax return resident employed under an 8-month contract with a Canadian firm to install equipment in their Montreal plant. H&r block amended tax return During the calendar year you were physically present in Canada for 179 days and were paid $16,500 (Canadian) for your services. H&r block amended tax return Although you were in Canada for not more than 183 days during the year, your income is not exempt from Canadian income tax because it was paid by a Canadian resident and was more than $10,000 (Canadian) for the year. H&r block amended tax return Pay received by a U. H&r block amended tax return S. H&r block amended tax return resident for work regularly done in more than one country as an employee on a ship, aircraft, motor vehicle, or train operated by a U. H&r block amended tax return S. H&r block amended tax return resident is exempt from Canadian tax. H&r block amended tax return Income from self-employment (Article VII). H&r block amended tax return   Income from services performed (other than those performed as an employee) are taxed in Canada if they are attributable to a permanent establishment in Canada. H&r block amended tax return This income is treated as business profits, and deductions similar to those allowed under U. H&r block amended tax return S. H&r block amended tax return law are allowable. H&r block amended tax return   If you carry on (or have carried on) business in both Canada and the United States, the business profits are attributable to each country based on the profits that the permanent establishment might be expected to make if it were a distinct and separate person engaged in the same or similar activities. H&r block amended tax return The business profits attributable to the permanent establishment include only those profits derived from assets used, risks assumed, and activities performed by the permanent establishment. H&r block amended tax return   You may be considered to have a permanent establishment if you meet certain conditions. H&r block amended tax return For more information, see Article V (Permanent Establishment) and Article VII (Business Profits). H&r block amended tax return Public entertainers (Article XVI). H&r block amended tax return   The provisions under income from employment or income from self-employment do not apply to public entertainers (such as theater, motion picture, radio, or television artistes, musicians, or athletes) from the United States who receive more than $15,000 in gross receipts in Canadian currency, including reimbursed expenses, from their entertainment activities in Canada during the calendar year. H&r block amended tax return However, this provision for public entertainers does not apply (and the other provisions will apply) to athletes participating in team sports in leagues with regularly scheduled games in both the United States and Canada. H&r block amended tax return Compensation paid by the U. H&r block amended tax return S. H&r block amended tax return Government (Article XIX). H&r block amended tax return   Wages, salaries, and similar income (other than pensions) paid to a U. H&r block amended tax return S. H&r block amended tax return citizen by the United States or any of its agencies, instrumentalities, or political subdivisions for discharging governmental functions are exempt from Canadian income tax. H&r block amended tax return   The exemption does not apply to pay for services performed in connection with any trade or business carried on for profit by the United States, or any of its agencies, instrumentalities, or political subdivisions. H&r block amended tax return Students and apprentices (Article XX). H&r block amended tax return   A full-time student, apprentice, or business trainee who is in Canada to study or acquire business experience is exempt from Canadian income tax on remittances received from any source outside Canada for maintenance, education, or training. H&r block amended tax return The recipient must be or must have been a U. H&r block amended tax return S. H&r block amended tax return resident immediately before visiting Canada. H&r block amended tax return   An apprentice or business trainee can claim this exemption only for a period of one year from the date the individual first arrived in Canada for the purpose of training. H&r block amended tax return Pensions, Annuities, Social Security, and Alimony Under Article XVIII, pensions and annuities from Canadian sources paid to U. H&r block amended tax return S. H&r block amended tax return residents are subject to tax by Canada, but the tax is limited to 15% of the gross amount (if a periodic pension payment) or of the taxable amount (if an annuity). H&r block amended tax return Canadian pensions and annuities paid to U. H&r block amended tax return S. H&r block amended tax return residents may be taxed by the United States, but the amount of any pension included in income for U. H&r block amended tax return S. H&r block amended tax return tax purposes may not be more than the amount that would be included in income in Canada if the recipient were a Canadian resident. H&r block amended tax return Pensions. H&r block amended tax return   A pension includes any payment under a pension or other retirement arrangement, Armed Forces retirement pay, war veterans pensions and allowances, and payments under a sickness, accident, or disability plan. H&r block amended tax return It includes pensions paid by private employers and the government for services rendered. H&r block amended tax return   Pensions also include payments from individual retirement arrangements (IRAs) in the United States, registered retirement savings plans (RRSPs) and registered retirement income funds (RRIFs) in Canada. H&r block amended tax return   Pensions do not include social security benefits. H&r block amended tax return Roth IRAs. H&r block amended tax return   A distribution from a Roth IRA is exempt from Canadian tax to the extent it would be exempt from U. H&r block amended tax return S. H&r block amended tax return tax if paid to a U. H&r block amended tax return S. H&r block amended tax return resident. H&r block amended tax return In addition, you may elect to defer any tax in Canada on income accrued within the Roth IRA but not distributed by the Roth IRA. H&r block amended tax return However, you cannot defer tax on any accruals due to contributions made after you become a Canadian resident. H&r block amended tax return Tax-deferred plans. H&r block amended tax return   Generally, income that accrues in a Canadian RRSP or RRIF is subject to U. H&r block amended tax return S. H&r block amended tax return tax, even if it is not distributed. H&r block amended tax return However, a U. H&r block amended tax return S. H&r block amended tax return citizen or resident can elect to defer U. H&r block amended tax return S. H&r block amended tax return tax on income from the plan until the income is distributed. H&r block amended tax return Form 8891 is used to make the election. H&r block amended tax return Annuities. H&r block amended tax return    An annuity is a stated sum payable periodically at stated times, during life, or during a specified number of years, under an obligation to make the payments in return for adequate and full consideration (other than services rendered). H&r block amended tax return Annuities do not include: Non-periodic payments, or An annuity the cost of which was deductible for tax purposes. H&r block amended tax return Special rules. H&r block amended tax return    Special rules apply to pensions and annuities with respect to: Short-term assignments, Cross-border commuters, and Individuals who participate in a Canadian qualifying plan. H&r block amended tax return Generally, distributions in such cases are deemed to be earned in the country in which the plan is established, without regard to where the services were rendered. H&r block amended tax return Social security benefits. H&r block amended tax return   U. H&r block amended tax return S. H&r block amended tax return social security benefits paid to a resident of Canada are taxed in Canada as if they were benefits under the Canada Pension Plan, except that 15% of the amount of the benefit is exempt from Canadian tax. H&r block amended tax return Alimony. H&r block amended tax return   Alimony and similar amounts (including child support payments) from Canadian sources paid to U. H&r block amended tax return S. H&r block amended tax return residents are exempt from Canadian tax. H&r block amended tax return For purposes of U. H&r block amended tax return S. H&r block amended tax return tax, these amounts are excluded from income to the same extent they would be excluded from income in Canada if the recipient was a Canadian resident. H&r block amended tax return Investment Income From Canadian Sources The treaty provides beneficial treatment for certain items of Canadian source income that result from an investment of capital. H&r block amended tax return Dividends (Article X). H&r block amended tax return   For Canadian source dividends received by U. H&r block amended tax return S. H&r block amended tax return residents, the Canadian income tax generally may not be more than 15%. H&r block amended tax return   A 5% rate applies to intercorporate dividends paid from a subsidiary to a parent corporation owning at least 10% of the subsidiary's voting stock. H&r block amended tax return However, a 10% rate applies if the payer of the dividend is a nonresident-owned Canadian investment corporation. H&r block amended tax return   These rates do not apply if the owner of the dividends carries on, or has carried on, a business in Canada through a permanent establishment and the holding on which the income is paid is effectively connected with that permanent establishment. H&r block amended tax return Interest (Article XI). H&r block amended tax return   Generally, Canadian source interest received by U. H&r block amended tax return S. H&r block amended tax return residents is exempt from Canadian income tax. H&r block amended tax return   The exemption does not apply if the owner of the interest carries on, or has carried on, a business in Canada through a permanent establishment and the debt on which the income is paid is effectively connected with that permanent establishment. H&r block amended tax return Gains from the sale of property (Article XIII). H&r block amended tax return   Generally, gains from the sale of personal property by a U. H&r block amended tax return S. H&r block amended tax return resident having no permanent establishment in Canada are exempt from Canadian income tax. H&r block amended tax return However, the exemption from Canadian tax does not apply to gains realized by U. H&r block amended tax return S. H&r block amended tax return residents on Canadian real property, and on personal property belonging to a permanent establishment in Canada. H&r block amended tax return   If the property subject to Canadian tax is a capital asset and was owned by the U. H&r block amended tax return S. H&r block amended tax return resident on September 26, 1980, not as part of the business property of a permanent establishment in Canada, generally the taxable gain is limited to the appreciation after 1984. H&r block amended tax return Royalties (Article XII). H&r block amended tax return   The following are exempt from Canadian tax: Copyright royalties and other like payments for the production or reproduction of any literary, dramatic, musical, or artistic work (other than payments for motion pictures and works on film, videotape, or other means of reproduction for use in connection with television, which may be taxed at 10%), Payments for the use of, or the right to use, computer software, Payments for the use of, or the right to use, any patent or any information concerning industrial, commercial, or scientific experience (but not within a rental or franchise agreement), and Payments for broadcasting as agreed to in an exchange of notes between the countries. H&r block amended tax return   This rate or exemption does not apply if the owner of the royalties carries on, or has carried on, a business in Canada through a permanent establishment and the right or property on which the income is paid is effectively connected with that permanent establishment. H&r block amended tax return   This exemption (or lower rate) does not apply to royalties to explore for or to exploit mineral deposits, timber, and other natural resources. H&r block amended tax return Other Income Generally, Canadian source income that is not specifically mentioned in the treaty, may be taxed by Canada. H&r block amended tax return Gambling losses. H&r block amended tax return   Canadian residents may deduct gambling losses in the U. H&r block amended tax return S. H&r block amended tax return against gambling winnings in the U. H&r block amended tax return S. H&r block amended tax return in the same manner as a U. H&r block amended tax return S. H&r block amended tax return resident. H&r block amended tax return Charitable Contributions United States income tax return. H&r block amended tax return   Under Article XXI, you may deduct contributions to certain qualified Canadian charitable organizations on your United States income tax return. H&r block amended tax return Besides being subject to the overall limits applicable to all your charitable contributions under U. H&r block amended tax return S. H&r block amended tax return tax law, your charitable contributions to Canadian organizations (other than contributions to a college or university at which you or a member of your family is or was enrolled) are subject to the U. H&r block amended tax return S. H&r block amended tax return percentage limits on charitable contributions, applied to your Canadian source income. H&r block amended tax return If your return does not include gross income from Canadian sources, charitable contributions to Canadian organizations are generally not deductible. H&r block amended tax return Example. H&r block amended tax return You are a U. H&r block amended tax return S. H&r block amended tax return citizen living in Canada. H&r block amended tax return You have both U. H&r block amended tax return S. H&r block amended tax return and Canadian source income. H&r block amended tax return During your tax year, you contribute to Canadian organizations that would qualify as charitable organizations under U. H&r block amended tax return S. H&r block amended tax return tax law if they were U. H&r block amended tax return S. H&r block amended tax return organizations. H&r block amended tax return To figure the maximum amount of the contribution to Canadian organizations that you can deduct on your U. H&r block amended tax return S. H&r block amended tax return income tax return, multiply your adjusted gross income from Canadian sources by the percentage limit that applies to contributions under U. H&r block amended tax return S. H&r block amended tax return income tax law. H&r block amended tax return Then include this amount on your return along with all your domestic charitable contributions, subject to the appropriate percentage limit required for contributions under U. H&r block amended tax return S. H&r block amended tax return income tax law. H&r block amended tax return The appropriate percentage limit for U. H&r block amended tax return S. H&r block amended tax return tax purposes is applied to your total adjusted gross income from all sources. H&r block amended tax return Qualified charities. H&r block amended tax return   These Canadian organizations must meet the qualifications that a U. H&r block amended tax return S. H&r block amended tax return charitable organization must meet under U. H&r block amended tax return S. H&r block amended tax return tax law. H&r block amended tax return Usually an organization will notify you if it qualifies. H&r block amended tax return For further information on charitable contributions and the U. H&r block amended tax return S. H&r block amended tax return percentage limits, see Publication 526, Charitable Contributions. H&r block amended tax return Canadian income tax return. H&r block amended tax return   Under certain conditions, contributions to qualified U. H&r block amended tax return S. H&r block amended tax return charitable organizations may also be claimed on your Canadian income tax return if you are a Canadian resident. H&r block amended tax return Income Tax Credits The treaty contains a credit provision (Article XXIV) for the elimination of double taxation. H&r block amended tax return In general, the United States and Canada both allow a credit against their income tax for the income tax paid to the other country on income from sources in that other country. H&r block amended tax return For detailed discussions of the U. H&r block amended tax return S. H&r block amended tax return income tax treatment of tax paid to foreign countries, see Publication 514, Foreign Tax Credit for Individuals. H&r block amended tax return See paragraphs (4) and (5) of Article XXIV for certain provisions that affect the computation of the credit allowed by the United States for Canadian income taxes paid by U. H&r block amended tax return S. H&r block amended tax return citizens residing in Canada. H&r block amended tax return Competent Authority Assistance Under Article XXVI, a U. H&r block amended tax return S. H&r block amended tax return citizen or resident may request assistance from the U. H&r block amended tax return S. H&r block amended tax return competent authority when the actions of Canada, the United States, or both, potentially result in double taxation or taxation contrary to the treaty. H&r block amended tax return The U. H&r block amended tax return S. H&r block amended tax return competent authority may then consult with the Canadian competent authority to determine if the double taxation or denial of treaty benefits in question can be avoided. H&r block amended tax return If the competent authorities are not able to reach agreement in a case, binding arbitration proceedings may apply. H&r block amended tax return It is important that your request for competent authority assistance be made as soon as you have been notified by either Canada or the United States of proposed adjustments that would result in denial of treaty benefits or in double taxation. H&r block amended tax return This is so that implementation of any agreement reached by the competent authorities is not barred by administrative, legal, or procedural barriers. H&r block amended tax return For information that you should include with your request for competent authority assistance, see Revenue Procedure 2006-54, 2006-49 IRB 1035, available at www. H&r block amended tax return irs. H&r block amended tax return gov/irb/2006-49_IRB/ar13. H&r block amended tax return html. H&r block amended tax return The request should be addressed to:  Deputy Commissioner (International) Large Business and International Division Attn: Office of Tax Treaty  Internal Revenue Service 1111 Constitution Ave. H&r block amended tax return , NW Routing: MA3-322A Washington, D. H&r block amended tax return C. H&r block amended tax return 20024 In addition to a timely request for assistance, you should take the following measures: File a timely protective claim for credit or refund of U. H&r block amended tax return S. H&r block amended tax return taxes on Form 1040X, Form 1120X, or amended Form 1041, whichever is appropriate. H&r block amended tax return This will, among other things, give you the benefit of a foreign tax credit in case you do not qualify for the treaty benefit in question. H&r block amended tax return For figuring this credit, attach either Form 1116, Foreign Tax Credit (Individual, Estate, or Trust), or Form 1118, Foreign Tax Credit — Corporations, as appropriate. H&r block amended tax return Attach your protective claim to your request for competent authority assistance. H&r block amended tax return Take appropriate action under Canadian procedures to avoid the lapse or termination of your right of appeal under Canadian income tax law. H&r block amended tax return How To Get Tax Help You can get help with unresolved tax issues, order free publications and forms, ask tax questions, and get information from the IRS and the Canada Revenue Agency in several ways. H&r block amended tax return Text of Treaty You can get the text of the U. H&r block amended tax return S. H&r block amended tax return —Canada income tax treaty from: Superintendent of Documents U. H&r block amended tax return S. H&r block amended tax return Government Printing Office P. H&r block amended tax return O. H&r block amended tax return Box 371954 Pittsburgh, PA 15250-7954 The treaty can also be found on the Internet at IRS. H&r block amended tax return gov. H&r block amended tax return U. H&r block amended tax return S. H&r block amended tax return Taxation During the filing season, the IRS conducts a taxpayer assistance program in Canada. H&r block amended tax return To find out if IRS personnel will be in your area, you should contact the consular office at the nearest U. H&r block amended tax return S. H&r block amended tax return Embassy or consulate. H&r block amended tax return Mail. H&r block amended tax return For answers to technical or account questions, you can write to:   Internal Revenue Service International Section Philadelphia, PA 19255-0525 Phone. H&r block amended tax return You can call the IRS for help at (267) 941-1000 (not a toll-free call). H&r block amended tax return Canadian Taxation You can get information on Canadian taxation from the Canada Revenue Agency. H&r block amended tax return The International Tax Services Office can be contacted on 1-800-267-5177 (from anywhere in Canada and the U. H&r block amended tax return S. H&r block amended tax return ) or on the Internet at www. H&r block amended tax return cra-arc. H&r block amended tax return gc. H&r block amended tax return ca. 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1.USA.gov Data

About The Data

1.USA.gov URLs are created whenever anyone shortens a .gov or .mil URL using bitly.

We provide a raw pub/sub feed of data created any time anyone clicks on a 1.USA.gov URL. The pub/sub endpoint responds to http requests for any 1.USA.gov URL and returns a stream of JSON entries, one per line, that represent real-time clicks.

If you are using the 1.USA.gov data and have feedback or want to tell us about your product, please e-mail us.

How to Access The Data

You can access the feed at http://developer.usa.gov/1usagov

Measured Voice stores archives of the raw data. They created this archive in anticipation of the 1.USA.gov Hack Day so other developers could more easily access it.

The JSON data dictionary is as follows:

{
        "a": USER_AGENT, 
        "c": COUNTRY_CODE, # 2-character iso code
        "nk": KNOWN_USER,  # 1 or 0. 0=this is the first time we've seen this browser
        "g": GLOBAL_BITLY_HASH, 
        "h": ENCODING_USER_BITLY_HASH,
        "l": ENCODING_USER_LOGIN,
        "hh": SHORT_URL_CNAME,
        "r": REFERRING_URL,
        "u": LONG_URL,
        "t": TIMESTAMP,
        "gr": GEO_REGION,
        "ll": [LATITUDE, LONGITUDE],
        "cy": GEO_CITY_NAME,
        "tz": TIMEZONE # in http://en.wikipedia.org/wiki/Zoneinfo format
        "hc": TIMESTAMP OF TIME HASH WAS CREATED, 
        "al": ACCEPT_LANGUAGE http://www.w3.org/Protocols/rfc2616/rfc2616-sec14.html#sec14.4 
    }


Code from the 1.USA.gov Hack Day

We held a nationwide 1.USA.gov Hack Day on July 29, 2011 to encourage people to explore the 1.USA.gov data. The following code was created by participants and shared publicly for others to use:

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Projects from the 1.USA.gov Hack Day

A number of items were created in anticipation of and at the Hack Day. Most tools centered around finding popular links, showing links by location, and using click data to enhance security:

  • Popular now - Barg Upender and Adam created a site called PopGov.us that shows which government links are popular in real time.
  • Popularity by day - Measured Voice created GovClicks to show the most popular links per day. GovClicks is built using Gogogon which consumes the 1.USA.Gov click feed and generates daily rankings of URLs.
  • NASA links - Adam Laiacano analyzed 1.USA.gov data and found that 42% of all clicks on 1.USA.gov links go to NASA websites. He created a map that shows that people in Europe are more likely to only click on NASA links, while people in the United States click on links from a wider variety of government links.
  • Across the world - Helmut Hissen made an animation that shows clicks across the globe on 1.USA.gov links from June 2 through July 14. Red flashes represent clicks from non-mobile devices, and green flashes represent clicks from mobile devices. Note that the final NASA Shuttle launch occurred on July 8. There’s a dramatic increase in activity at the 1:24 mark.
  • Map of clicks - Chris Metcalf built a tool that ingests the 1.USA.gov data and feeds it into Data.gov. It also feeds the data into a Google Map to show clicks based on location.
  • Popularity by location - Robert built a tool that searches for the most popular links near your city or within your country.
  • NASA shuttle launch - Bitly created a visualization that shows clicks around the globe that relate to the NASA shuttle launch on July 8.
  • Sharing by domain - Shreyas Karnik looked at which government domains are commonly shortened at a particular point of time and from what location. The resulted in a map showing the location of where the top 10 domains are shared.
  • DNSSEC status - Earl Crane, Scott Rose, and Richard Bullington-McGuire worked on a tool to look at the popularity of 1.USA.gov links against the DNSSEC status of .gov domains. Their project is still in progress, but the code is available to the public (gogogon fork and DNSSEC List Walk).
  • DNSSEC status visualization - Duane Wessels graphed the DNSSEC status of domains by popularity of short URLs from that domain. The size of nodes in the graph represent the number of URLs at or below that name that were shortened. A number of agencies have DNSSEC deployed on their own domains, but employ third party CDN services, such as Akamai, which do not utilize DNSSEC at this point. Scripts and additional results are also available.
  • Twitter mentions - Dmitry Kachaev compared the list of .gov domain names from Data.gov against 1.USA.gov data. He found that only 296 registered domains, out of 1,731, were mentioned on Twitter in the past 60 days. He also created Python code to get archived click data.
  • Creation and clicks - Harlan Harris looked at the time difference between when a link was created and when it was clicked. He created density plots to show the results. Results are available on his blog.
  • Word cloud - Hani Anani used 1.USA.gov data to identify popular government links, and then analyzed the contents with Open Calais to create a word cloud that summarizes popular government topics in near real time.
  • Sonifications - Niki Yoshiuchi from the New York event created a sonification, or audio representation of the data. Joachim Gossmann is also started working on a variety of sonifications.

Terms of Service

By using this data, you agree to the Terms of Service.

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The H&r Block Amended Tax Return

H&r block amended tax return 3. H&r block amended tax return   Claiming the Special Depreciation Allowance Table of Contents Introduction What Is Qualified Property?Qualified Reuse and Recycling Property Qualified Cellulosic Biofuel Plant Property Qualified Disaster Assistance Property Certain Qualified Property Acquired After December 31, 2007 Election to Accelerate Certain Credits in Lieu of the Special Depreciation Allowance How Much Can You Deduct? How Can You Elect Not To Claim an Allowance? When Must You Recapture an Allowance? Introduction You can take a special depreciation allowance to recover part of the cost of qualified property (defined next), placed in service during the tax year. H&r block amended tax return The allowance applies only for the first year you place the property in service. H&r block amended tax return For qualified property placed in service in 2013, you can take an additional 50% special allowance. H&r block amended tax return The allowance is an additional deduction you can take after any section 179 deduction and before you figure regular depreciation under MACRS for the year you place the property in service. H&r block amended tax return This chapter explains what is qualified property. H&r block amended tax return It also includes rules regarding how to figure an allowance, how to elect not to claim an allowance, and when you must recapture an allowance. H&r block amended tax return Corporations can elect to accelerate certain minimum tax credits in lieu of claiming the special depreciation allowance for eligible qualified property. H&r block amended tax return See Election to Accelerate Certain Credits in Lieu of the Special Depreciation Allowance , later. H&r block amended tax return See chapter 6 for information about getting publications and forms. H&r block amended tax return What Is Qualified Property? Your property is qualified property if it is one of the following. H&r block amended tax return Qualified reuse and recycling property. H&r block amended tax return Qualified cellulosic biofuel plant property. H&r block amended tax return Qualified disaster assistance property. H&r block amended tax return Certain qualified property acquired after December 31, 2007. H&r block amended tax return The following discussions provide information about the types of qualified property listed above for which you can take the special depreciation allowance. H&r block amended tax return Qualified Reuse and Recycling Property You can take a 50% special depreciation allowance for qualified reuse and recycling property. H&r block amended tax return Qualified reuse and recycling property is any machinery or equipment (not including buildings or real estate), along with any appurtenance, that is used exclusively to collect, distribute, or recycle qualified reuse and recyclable materials (as defined in section 168(m)(3)(B) of the Internal Revenue Code). H&r block amended tax return Qualified reuse and recycling property also includes software necessary to operate such equipment. H&r block amended tax return The property must meet the following requirements. H&r block amended tax return The property must be depreciated under MACRS. H&r block amended tax return The property must have a useful life of at least 5 years. H&r block amended tax return The original use of the property must begin with you after August 31, 2008. H&r block amended tax return You must have acquired the property by purchase (as discussed under Property Acquired by Purchase in chapter 2 ) after August 31, 2008, with no binding written contract for the acquisition in effect before September 1, 2008. H&r block amended tax return The property must be placed in service for use in your trade or business after August 31, 2008. H&r block amended tax return Excepted Property Qualified reuse and recycling property does not include any of the following. H&r block amended tax return Any rolling stock or other equipment used to transport reuse or recyclable materials. H&r block amended tax return Property required to be depreciated using the Alternative Depreciation System (ADS). H&r block amended tax return For other property required to be depreciated using ADS, see Required use of ADS under Which Depreciation System (GDS or ADS) Applies , in chapter 4 . H&r block amended tax return Other bonus depreciation property to which section 168(k) of the Internal Revenue Code applies. H&r block amended tax return Property for which you elected not to claim any special depreciation allowance (discussed later). H&r block amended tax return Property placed in service and disposed of in the same tax year. H&r block amended tax return Property converted from business use to personal use in the same tax year acquired. H&r block amended tax return Property converted from personal use to business use in the same or later tax year may be qualified reuse and recycling property. H&r block amended tax return Qualified Cellulosic Biofuel Plant Property You can take a 50% special depreciation allowance for qualified cellulosic biofuel plant property. H&r block amended tax return Cellulosic biofuel is any liquid fuel which is produced from any lignocellulosic or hemicellulosic matter that is available on a renewable or recurring basis. H&r block amended tax return Examples include bagasse (from sugar cane), corn stalks, and switchgrass. H&r block amended tax return The property must meet the following requirements. H&r block amended tax return The property is used in the United States solely to produce cellulosic biofuel. H&r block amended tax return The original use of the property must begin with you after December 20, 2006. H&r block amended tax return You must have acquired the property by purchase (as discussed under Property Acquired by Purchase in chapter 2 ) after December 20, 2006, with no binding written contract for acquisition in effect before December 21, 2006. H&r block amended tax return The property must be placed in service for use in your trade or business or for the production of income after October 3, 2008, and before January 3, 2013. H&r block amended tax return Note. H&r block amended tax return For property placed in service after January 2, 2013, and before January 1, 2014, you can take a 50% special depreciation allowance for qualified second generation biofuel plant property that is used solely in the United States to produce second generation biofuel (as defined in section 40(b)(6)(E)). H&r block amended tax return The other requirements for qualified second generation biofuel plant property to be eligible for the special depreciation allowance are identical to the requirements discussed for Qualified Cellulosic Biofuel Plant Property above. H&r block amended tax return Special Rules Sale-leaseback. H&r block amended tax return   If you sold qualified cellulosic biofuel plant property you placed in service after October 3, 2008, and leased it back within 3 months after you originally placed it in service, the property is treated as originally placed in service no earlier than the date it is used by you under the leaseback. H&r block amended tax return   The property will not qualify for the special allowance if the lessee or a related person to the lessee or lessor had a written binding contract in effect for the acquisition of the property before December 21, 2006. H&r block amended tax return Syndicated leasing transactions. H&r block amended tax return   If qualified cellulosic biofuel plant property is originally placed in service by a lessor after October 3, 2008, the property is sold within 3 months of the date it was placed in service, and the user of the property does not change, then the property is treated as originally placed in service by the taxpayer no earlier than the date of the last sale. H&r block amended tax return   Multiple units of property subject to the same lease will be treated as originally placed in service no earlier than the date of sale if the property is sold within 3 months after the final unit is placed in service and the period between the times the first and last units are placed in service does not exceed 12 months. H&r block amended tax return Excepted Property Qualified cellulosic biofuel plant property does not include any of the following. H&r block amended tax return Property placed in service and disposed of in the same tax year. H&r block amended tax return Property converted from business use to personal use in the same tax year it is acquired. H&r block amended tax return Property converted from personal use to business use in the same or later tax year may be qualified cellulosic biomass ethanol plant property. H&r block amended tax return Property required to be depreciated using the Alternative Depreciation System (ADS). H&r block amended tax return For other property required to be depreciated using ADS, see Required use of ADS under Which Depreciation System (GDS or ADS) Applies , in chapter 4 . H&r block amended tax return Property any portion of which is financed with the proceeds of any obligation the interest on which is exempt from tax under section 103 of the Internal Revenue Code. H&r block amended tax return Property for which you elected not to claim any special depreciation allowance (discussed later). H&r block amended tax return Property for which a deduction was taken under section 179C for certain qualified refinery property. H&r block amended tax return Other bonus depreciation property to which section 168(k) of the Internal Revenue Code applies. H&r block amended tax return Qualified Disaster Assistance Property You can take a 50% special depreciation allowance for qualified disaster assistance property placed in service in federally declared disaster areas in which the disaster occurred in 2009. H&r block amended tax return A list of the federally declared disaster areas is available at the FEMA website at www. H&r block amended tax return fema. H&r block amended tax return gov. H&r block amended tax return Your property is qualified disaster assistance property if it meets the following requirements. H&r block amended tax return The property is nonresidential real property or residential real property placed in service before January 1, 2014, in a federally declared disaster area in which the disaster occurred in 2009. H&r block amended tax return You must have acquired the property by purchase (as discussed under Property Acquired by Purchase in chapter 2 ) on or after the applicable disaster date, with no binding written contract for the acquisition in effect before the applicable disaster date. H&r block amended tax return The property must rehabilitate property damaged, or replace property destroyed or condemned, as a result of the applicable federally declared disaster. H&r block amended tax return The property must be similar in nature to, and located in the same county as, the rehabilitated or replaced property. H&r block amended tax return The original use of the property within the applicable disaster area must have begun with you on or after the applicable disaster date. H&r block amended tax return The property is placed in service by you on or before the date which is the last day of the fourth calendar year. H&r block amended tax return Substantially all (80% or more) of the use of the property must be in the active conduct of your trade or business in a federally declared disaster area, occurring in 2009. H&r block amended tax return It is not excepted property (explained later in Excepted Property ). H&r block amended tax return Special Rules Sale-leaseback. H&r block amended tax return   If you sold qualified disaster assistance property you placed in service after the applicable disaster date and leased it back within 3 months after you originally placed it in service, the property is treated as originally placed in service no earlier than the date it is used by you under the leaseback. H&r block amended tax return   The property will not qualify for the special allowance if the lessee or a related person to the lessee or lessor had a written binding contract in effect for the acquisition of the property before the applicable disaster date. H&r block amended tax return Syndicated leasing transactions. H&r block amended tax return   If qualified disaster assistance property is originally placed in service by a lessor after the applicable disaster date, the property is sold within 3 months of the date it was placed in service, and the user of the property does not change, then the property is treated as originally placed in service by the taxpayer no earlier than the date of the last sale. H&r block amended tax return   Multiple units of property subject to the same lease will be treated as originally placed in service no earlier than the date of sale if the property is sold within 3 months after the final unit is placed in service and the period between the times the first and last units are placed in service does not exceed 12 months. H&r block amended tax return Excepted Property Qualified disaster assistance property does not include any of the following. H&r block amended tax return Property required to be depreciated using the Alternative Depreciation System (ADS). H&r block amended tax return For other property required to be depreciated using ADS, see Required use of ADS under Which Depreciation System (GDS or ADS) Applies , in chapter 4 . H&r block amended tax return Property any portion of which is financed with the proceeds of a tax-exempt obligation under section 103 of the Internal Revenue Code. H&r block amended tax return Any qualified revitalization building (defined later) placed in service before January 1, 2010, for which you have elected to claim a commercial revitalization deduction for qualified revitalization expenditures. H&r block amended tax return Any property used in connection with any private or commercial golf course, country club, massage parlor, hot tub facility, suntan facility, or any store, the principal business of which is the sale of alcoholic beverages for consumption off premises. H&r block amended tax return Any property for which the special allowance under section 168(k) or section 1400N(d) of the Internal Revenue Code applies. H&r block amended tax return Property for which you elected not to claim any special depreciation allowance (discussed later). H&r block amended tax return Property placed in service and disposed of in the same tax year. H&r block amended tax return Property converted from business use to personal use in the same tax year acquired. H&r block amended tax return Property converted from personal use to business use in the same or later tax year may be qualified disaster assistance property. H&r block amended tax return Any gambling or animal racing property (defined later). H&r block amended tax return Qualified revitalization building. H&r block amended tax return   This is a commercial building and its structural components that you placed in service in a renewal community before January 1, 2010. H&r block amended tax return If the building is new, the original use of the building must begin with you. H&r block amended tax return If the building is not new, you must substantially rehabilitate the building and then place it in service. H&r block amended tax return For more information, including definitions of substantially rehabilitated building and qualified revitalization expenditure, see section 1400I(b) of the Internal Revenue Code. H&r block amended tax return Gambling or animal racing property. H&r block amended tax return   Gambling or animal racing property includes the following personal and real property. H&r block amended tax return Any equipment, furniture, software, or other property used directly in connection with gambling, the racing of animals, or the on-site viewing of such racing. H&r block amended tax return Any real property determined by square footage (other than any portion that is less than 100 square feet) that is dedicated to gambling, the racing of animals, or the on-site viewing of such racing. H&r block amended tax return Certain Qualified Property Acquired After December 31, 2007 You can take a 50% special depreciation deduction allowance for certain qualified property acquired after December 31, 2007. H&r block amended tax return Your property is qualified property if it meets the following requirements. H&r block amended tax return It is one of the following types of property. H&r block amended tax return Tangible property depreciated under MACRS with a recovery period of 20 years or less. H&r block amended tax return Water utility property. H&r block amended tax return Computer software that is readily available for purchase by the general public, is subject to a nonexclusive license, and has not been substantially modified. H&r block amended tax return (The cost of some computer software is treated as part of the cost of hardware and is depreciated under MACRS. H&r block amended tax return ) Qualified leasehold improvement property (defined under Qualified leasehold improvement property later). H&r block amended tax return You must have acquired the property after December 31, 2007, with no binding written contract for the acquisition in effect before January 1, 2008. H&r block amended tax return The property must be placed in service for use in your trade or business or for the production of income before January 1, 2014 (before January 1, 2015, for certain property with a long production period and certain aircraft (defined next)). H&r block amended tax return The original use of the property must begin with you after December 31, 2007. H&r block amended tax return It is not excepted property (explained later in Excepted property). H&r block amended tax return Qualified leasehold improvement property. H&r block amended tax return    Generally, this is any improvement to an interior part of a building that is nonresidential real property, if all the following requirements are met. H&r block amended tax return The improvement is made under or according to a lease by the lessee (or any sublessee) or the lessor of that part of the building. H&r block amended tax return That part of the building is to be occupied exclusively by the lessee (or any sublessee) of that part. H&r block amended tax return The improvement is placed in service more than 3 years after the date the building was first placed in service by any person. H&r block amended tax return The improvement is section 1250 property. H&r block amended tax return See chapter 3 in Publication 544, Sales and Other Dispositions of Assets, for the definition of section 1250 property. H&r block amended tax return   However, a qualified leasehold improvement does not include any improvement for which the expenditure is attributable to any of the following. H&r block amended tax return The enlargement of the building. H&r block amended tax return Any elevator or escalator. H&r block amended tax return Any structural component benefiting a common area. H&r block amended tax return The internal structural framework of the building. H&r block amended tax return   Generally, a binding commitment to enter into a lease is treated as a lease and the parties to the commitment are treated as the lessor and lessee. H&r block amended tax return However, a lease between related persons is not treated as a lease. H&r block amended tax return Related persons. H&r block amended tax return   For this purpose, the following are related persons. H&r block amended tax return Members of an affiliated group. H&r block amended tax return An individual and a member of his or her family, including only a spouse, child, parent, brother, sister, half-brother, half-sister, ancestor, and lineal descendant. H&r block amended tax return A corporation and an individual who directly or indirectly owns 80% or more of the value of the outstanding stock of that corporation. H&r block amended tax return Two corporations that are members of the same controlled group. H&r block amended tax return A trust fiduciary and a corporation if 80% or more of the value of the outstanding stock is directly or indirectly owned by or for the trust or grantor of the trust. H&r block amended tax return The grantor and fiduciary, and the fiduciary and beneficiary, of any trust. H&r block amended tax return The fiduciaries of two different trusts, and the fiduciaries and beneficiaries of two different trusts, if the same person is the grantor of both trusts. H&r block amended tax return A tax-exempt educational or charitable organization and any person (or, if that person is an individual, a member of that person's family) who directly or indirectly controls the organization. H&r block amended tax return Two S corporations, and an S corporation and a regular corporation, if the same persons own 80% or more of the value of the outstanding stock of each corporation. H&r block amended tax return A corporation and a partnership if the same persons own both of the following. H&r block amended tax return 80% or more of the value of the outstanding stock of the corporation. H&r block amended tax return 80% or more of the capital or profits interest in the partnership. H&r block amended tax return The executor and beneficiary of any estate. H&r block amended tax return Long Production Period Property To be qualified property, long production period property must meet the following requirements. H&r block amended tax return It must meet the requirements in (2)-(5), above. H&r block amended tax return The property has a recovery period of at least 10 years or is transportation property. H&r block amended tax return Transportation property is tangible personal property used in the trade or business of transporting persons or property. H&r block amended tax return The property is subject to section 263A of the Internal Revenue Code. H&r block amended tax return The property has an estimated production period exceeding 1 year and an estimated production cost exceeding $1,000,000. H&r block amended tax return Noncommercial Aircraft To be qualified property, noncommercial aircraft must meet the following requirements. H&r block amended tax return It must meet the requirements in (2)-(5), above. H&r block amended tax return The aircraft must not be tangible personal property used in the trade or business of transporting persons or property (except for agricultural or firefighting purposes). H&r block amended tax return The aircraft must be purchased (as discussed under Property Acquired by Purchase in chapter 2 ) by a purchaser who at the time of the contract for purchase, makes a nonrefundable deposit of the lesser of 10% of the cost or $100,000. H&r block amended tax return The aircraft must have an estimated production period exceeding four months and a cost exceeding $200,000. H&r block amended tax return Special Rules Sale-leaseback. H&r block amended tax return   If you sold qualified property you placed in service after December 31, 2007, and leased it back within 3 months after you originally placed in service, the property is treated as originally placed in service no earlier than the date it is used by you under the leaseback. H&r block amended tax return   The property will not qualify for the special depreciation allowance if the lessee or a related person to the lessee or lessor had a written binding contract in effect for the acquisition of the property before January 1, 2008. H&r block amended tax return Syndicated leasing transactions. H&r block amended tax return   If qualified property is originally placed in service by a lessor after December 31, 2007, the property is sold within 3 months of the date it was placed in service, and the user of the property does not change, then the property is treated as originally placed in service by the taxpayer no earlier than the date of the last sale. H&r block amended tax return   Multiple units of property subject to the same lease will be treated as originally placed in service no earlier than the date of the last sale if the property is sold within 3 months after the final unit is placed in service and the period between the time the first and last units are placed in service does not exceed 12 months. H&r block amended tax return Excepted Property Qualified property does not include any of the following. H&r block amended tax return Property placed in service and disposed of in the same tax year. H&r block amended tax return Property converted from business use to personal use in the same tax year acquired. H&r block amended tax return Property converted from personal use to business use in the same or later tax year may be qualified property. H&r block amended tax return Property required to be depreciated under the Alternative Depreciation System (ADS). H&r block amended tax return This includes listed property used 50% or less in a qualified business use. H&r block amended tax return For other property required to be depreciated using ADS, see Required use of ADS under Which Depreciation System (GDS or ADS) Applies , in chapter 4 . H&r block amended tax return Qualified restaurant property (as defined in section 168(e)(7) of the Internal Revenue Code). H&r block amended tax return Qualified retail improvement property (as defined in section 168(e)(8) of the Internal Revenue Code). H&r block amended tax return Property for which you elected not to claim any special depreciation allowance (discussed later). H&r block amended tax return Property for which you elected to accelerate certain credits in lieu of the special depreciation allowance (discussed next). H&r block amended tax return Election to Accelerate Certain Credits in Lieu of the Special Depreciation Allowance An election made by a corporation to claim pre-2006 unused minimum tax credits in lieu of claiming the special depreciation allowance for either its first tax year ending after March 31, 2008, its first tax year ending after December 31, 2008, or its first tax year ending after December 31, 2010, continues to apply to round 2 extension property (as defined in section 168(k)(4)(I)(iv)), unless the corporation made an election not to apply the section 168(k)(4) election to round 2 extension property for its first tax year ending after December 31, 2010. H&r block amended tax return For 2013, round 2 extension property generally is long production period and noncommercial aircraft if acquired after March 31, 2008, and placed in service after December 31, 2012, but before January 1, 2014. H&r block amended tax return An election made by a corporation to claim pre-2006 unused minimum tax credits in lieu of claiming the special depreciation allowance for either its first tax year ending after March 31, 2008, its first tax year ending after December 31, 2008, or its first tax year ending after December 31, 2010, continues to apply to round 3 extension property (as defined in section 168(k)(4)(J)(iv)), unless the corporation makes an election not to apply the section 168(k)(4) election to round 3 extension property. H&r block amended tax return If a corporation did not make a section 168(k)(4) election for either its first tax year ending after March 31, 2008, its first tax year ending after December 31, 2008, or its first tax year ending after December 31, 2010, the corporation may elect for its first tax year ending after December 31, 2012, to claim pre-2006 unused minimum tax credits in lieu of claiming the special depreciation allowance for only round 3 extension property. H&r block amended tax return If you make an election to accelerate these credits in lieu of claiming the special depreciation allowance for eligible property, you must not take the 50% special depreciation allowance for the property and must depreciate the basis in the property under MACRS using the straight line method. H&r block amended tax return See Which Depreciation Method Applies in chapter 4 . H&r block amended tax return Once made, the election cannot be revoked without IRS consent. H&r block amended tax return Additional guidance. H&r block amended tax return   For additional guidance on the election to accelerate the research or minimum tax credit in lieu of claiming the special depreciation allowance, see Rev. H&r block amended tax return Proc. H&r block amended tax return 2008-65 on page 1082 of Internal Revenue Bulletin 2008-44, available at www. H&r block amended tax return irs. H&r block amended tax return gov/pub/irs-irbs/irb08-44. H&r block amended tax return pdf, Rev. H&r block amended tax return Proc. H&r block amended tax return 2009-16 on page 449 of Internal Revenue Bulletin 2009-06, available at www. H&r block amended tax return irs. H&r block amended tax return gov/pub/irs-irbs/irb09-06. H&r block amended tax return pdf, and Rev. H&r block amended tax return Proc. H&r block amended tax return 2009-33 on page 150 of Internal Revenue Bulletin 2009-29, available at www. H&r block amended tax return irs. H&r block amended tax return gov/pub/irs-irbs/irb09-29. H&r block amended tax return pdf. H&r block amended tax return Also, see Form 3800, General Business Credit; Form 8827, Credit for Prior Year Minimum Tax — Corporations; and related instructions. H&r block amended tax return   Additional guidance regarding the election to accelerate the minimum tax credit in lieu of claiming the special depreciation allowance for round 2 extension property and round 3 extension property may also be available in later Internal Revenue Bulletins available at www. H&r block amended tax return irs. H&r block amended tax return gov/irb. H&r block amended tax return How Much Can You Deduct? Figure the special depreciation allowance by multiplying the depreciable basis of qualified reuse and recycling property, qualified cellulosic biofuel plant property, qualified disaster assistance property, and certain qualified property acquired after December 31, 2007, by 50%. H&r block amended tax return For qualified property other than listed property, enter the special allowance on line 14 in Part II of Form 4562. H&r block amended tax return For qualified property that is listed property, enter the special allowance on line 25 in Part V of Form 4562. H&r block amended tax return If you place qualified property in service in a short tax year, you can take the full amount of a special depreciation allowance. H&r block amended tax return Depreciable basis. H&r block amended tax return   This is the property's cost or other basis multiplied by the percentage of business/investment use, reduced by the total amount of any credits and deductions allocable to the property. H&r block amended tax return   The following are examples of some credits and deductions that reduce depreciable basis. H&r block amended tax return Any section 179 deduction. H&r block amended tax return Any deduction for removal of barriers to the disabled and the elderly. H&r block amended tax return Any disabled access credit, enhanced oil recovery credit, and credit for employer-provided childcare facilities and services. H&r block amended tax return Basis adjustment to investment credit property under section 50(c) of the Internal Revenue Code. H&r block amended tax return   For additional credits and deductions that affect basis, see section 1016 of the Internal Revenue Code. H&r block amended tax return   For information about how to determine the cost or other basis of property, see What Is the Basis of Your Depreciable Property in chapter 1 . H&r block amended tax return For a discussion of business/investment use, see Partial business or investment use under Property Used in Your Business or Income-Producing Activity in chapter 1 . H&r block amended tax return Depreciating the remaining cost. H&r block amended tax return   After you figure your special depreciation allowance for your qualified property, you can use the remaining cost to figure your regular MACRS depreciation deduction (discussed in chapter 4 . H&r block amended tax return Therefore, you must reduce the depreciable basis of the property by the special depreciation allowance before figuring your regular MACRS depreciation deduction. H&r block amended tax return Example. H&r block amended tax return On November 1, 2013, Tom Brown bought and placed in service in his business qualified property that cost $450,000. H&r block amended tax return He did not elect to claim a section 179 deduction. H&r block amended tax return He deducts 50% of the cost ($225,000) as a special depreciation allowance for 2013. H&r block amended tax return He uses the remaining $225,000 of cost to figure his regular MACRS depreciation deduction for 2013 and later years. H&r block amended tax return Like-kind exchanges and involuntary conversions. H&r block amended tax return   If you acquire qualified property in a like-kind exchange or involuntary conversion, the carryover basis of the acquired property is eligible for a special depreciation allowance. H&r block amended tax return After you figure your special allowance, you can use the remaining carryover basis to figure your regular MACRS depreciation deduction. H&r block amended tax return In the year you claim the allowance (the year you place in service the property received in the exchange or dispose of involuntarily converted property), you must reduce the carryover basis of the property by the allowance before figuring your regular MACRS depreciation deduction. H&r block amended tax return See Figuring the Deduction for Property Acquired in a Nontaxable Exchange , in chapter 4 under How Is the Depreciation Deduction Figured . H&r block amended tax return The excess basis (the part of the acquired property's basis that exceeds its carryover basis) is also eligible for a special depreciation allowance. H&r block amended tax return How Can You Elect Not To Claim an Allowance? You can elect, for any class of property, not to deduct any special allowances for all property in such class placed in service during the tax year. H&r block amended tax return To make an election, attach a statement to your return indicating what election you are making and the class of property for which you are making the election. H&r block amended tax return When to make election. H&r block amended tax return   Generally, you must make the election on a timely filed tax return (including extensions) for the year in which you place the property in service. H&r block amended tax return   However, if you timely filed your return for the year without making the election, you can still make the election by filing an amended return within 6 months of the due date of the original return (not including extensions). H&r block amended tax return Attach the election statement to the amended return. H&r block amended tax return On the amended return, write “Filed pursuant to section 301. H&r block amended tax return 9100-2. H&r block amended tax return ” Revoking an election. H&r block amended tax return   Once you elect not to deduct a special depreciation allowance for a class of property, you cannot revoke the election without IRS consent. H&r block amended tax return A request to revoke the election is a request for a letter ruling. H&r block amended tax return If you elect not to have any special allowance apply, the property may be subject to an alternative minimum tax adjustment for depreciation. H&r block amended tax return When Must You Recapture an Allowance? When you dispose of property for which you claimed a special depreciation allowance, any gain on the disposition is generally recaptured (included in income) as ordinary income up to the amount of the special depreciation allowance previously allowed or allowable. H&r block amended tax return See When Do You Recapture MACRS Depreciation in chapter 4 or more information. H&r block amended tax return Recapture of allowance deducted for qualified GO Zone property. H&r block amended tax return   If, in any year after the year you claim the special depreciation allowance for qualified GO Zone property (including specified GO Zone extension property), the property ceases to be used in the GO Zone, you may have to recapture as ordinary income the excess benefit you received from claiming the special depreciation allowance. H&r block amended tax return For additional guidance, see Notice 2008-25 on page 484 of Internal Revenue Bulletin 2008-9. H&r block amended tax return Qualified cellulosic biomass ethanol plant property and qualified cellulosic biofuel plant property. H&r block amended tax return   If, in any year after the year you claim the special depreciation allowance for any qualified cellulosic biomass ethanol plant property or qualified biofuel plant property, the property ceases to be qualified cellulosic biomass ethanol plant property or qualified biofuel plant property, you may have to recapture as ordinary income the excess benefit you received from claiming the special depreciation allowance. H&r block amended tax return Recapture of allowance for qualified Recovery Assistance property. H&r block amended tax return   If, in any year after the year you claim the special depreciation allowance for qualified Recovery Assistance property, the property ceases to be used in the Kansas disaster area, you may have to recapture as ordinary income the excess benefit you received from claiming the special depreciation allowance. H&r block amended tax return For additional guidance, see Notice 2008-67 on page 307 of Internal Revenue Bulletin 2008-32. H&r block amended tax return Recapture of allowance for qualified disaster assistance property. H&r block amended tax return   If, in any year after the year you claim the special depreciation allowance for qualified disaster assistance property, the property ceases to be used in the applicable disaster area, you may have to recapture as ordinary income the excess benefit you received from claiming the special depreciation allowance. H&r block amended tax return   For additional guidance, see Notice 2008-67 on page 307 of Internal Revenue Bulletin 2008-32. H&r block amended tax return Prev  Up  Next   Home   More Online Publications