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Printable 2011 Tax Forms

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Printable 2011 Tax Forms

Printable 2011 tax forms Part Five -   Standard Deduction and Itemized Deductions After you have figured your adjusted gross income, you are ready to subtract the deductions used to figure taxable income. Printable 2011 tax forms You can subtract either the standard deduction or itemized deductions. Printable 2011 tax forms Itemized deductions are deductions for certain expenses that are listed on Schedule A (Form 1040). Printable 2011 tax forms The ten chapters in this part discuss the standard deduction, each itemized deduction, and a limit on some of your itemized deductions if your adjusted gross income is more than certain amounts. Printable 2011 tax forms See chapter 20 for the factors to consider when deciding whether to subtract the standard deduction or itemized deductions. Printable 2011 tax forms Table of Contents 20. Printable 2011 tax forms   Standard DeductionWhat's New Introduction Standard Deduction Amount Standard Deduction for Dependents Who Should ItemizeWhen to itemize. Printable 2011 tax forms Married persons who filed separate returns. Printable 2011 tax forms 21. Printable 2011 tax forms   Medical and Dental ExpensesWhat's New Introduction Useful Items - You may want to see: What Are Medical Expenses? What Expenses Can You Include This Year?Community property states. Printable 2011 tax forms How Much of the Expenses Can You Deduct? Whose Medical Expenses Can You Include?Yourself Spouse Dependent Decedent What Medical Expenses Are Includible?Insurance Premiums Meals and Lodging Transportation Disabled Dependent Care Expenses How Do You Treat Reimbursements?Insurance Reimbursement Damages for Personal Injuries How Do You Figure and Report the Deduction on Your Tax Return?What Tax Form Do You Use? Impairment-Related Work Expenses Health Insurance Costs for Self-Employed Persons 22. Printable 2011 tax forms   TaxesIntroductionIndian tribal government. Printable 2011 tax forms Useful Items - You may want to see: Tests To Deduct Any Tax Income TaxesState and Local Income Taxes Foreign Income Taxes General Sales TaxesMotor vehicles. Printable 2011 tax forms Real Estate TaxesReal estate taxes for prior years. Printable 2011 tax forms Examples. Printable 2011 tax forms Form 1099-S. Printable 2011 tax forms Real Estate-Related Items You Cannot Deduct Personal Property Taxes Taxes and Fees You Cannot Deduct Where To Deduct 23. Printable 2011 tax forms   Interest ExpenseIntroduction Useful Items - You may want to see: Home Mortgage InterestAmount Deductible Points Mortgage Insurance Premiums Form 1098, Mortgage Interest Statement Investment InterestInvestment Property Allocation of Interest Expense Limit on Deduction Items You Cannot DeductPersonal Interest Allocation of Interest How To ReportMore than one borrower. Printable 2011 tax forms Mortgage proceeds used for business or investment. Printable 2011 tax forms 24. Printable 2011 tax forms   ContributionsIntroduction Useful Items - You may want to see: Organizations That Qualify To Receive Deductible ContributionsTypes of Qualified Organizations Contributions You Can DeductContributions From Which You Benefit Expenses Paid for Student Living With You Out-of-Pocket Expenses in Giving Services Contributions You Cannot DeductContributions to Individuals Contributions to Nonqualified Organizations Contributions From Which You Benefit Value of Time or Services Personal Expenses Appraisal Fees Contributions of PropertyException. Printable 2011 tax forms Household items. Printable 2011 tax forms Deduction more than $500. Printable 2011 tax forms Form 1098-C. Printable 2011 tax forms Filing deadline approaching and still no Form 1098-C. Printable 2011 tax forms Exception 1—vehicle used or improved by organization. Printable 2011 tax forms Exception 2—vehicle given or sold to needy individual. Printable 2011 tax forms Deduction $500 or less. Printable 2011 tax forms Right to use property. Printable 2011 tax forms Tangible personal property. Printable 2011 tax forms Future interest. Printable 2011 tax forms Determining Fair Market Value Giving Property That Has Decreased in Value Giving Property That Has Increased in Value When To DeductChecks. Printable 2011 tax forms Text message. Printable 2011 tax forms Credit card. Printable 2011 tax forms Pay-by-phone account. Printable 2011 tax forms Stock certificate. Printable 2011 tax forms Promissory note. Printable 2011 tax forms Option. Printable 2011 tax forms Borrowed funds. Printable 2011 tax forms Limits on DeductionsCarryovers Records To KeepCash Contributions Noncash Contributions Out-of-Pocket Expenses How To Report 25. Printable 2011 tax forms   Nonbusiness Casualty and Theft LossesWhat's New Introduction Useful Items - You may want to see: CasualtyFamily pet. Printable 2011 tax forms Progressive deterioration. Printable 2011 tax forms Damage from corrosive drywall. Printable 2011 tax forms Theft Loss on Deposits Proof of Loss Figuring a LossDecrease in Fair Market Value Adjusted Basis Insurance and Other Reimbursements Single Casualty on Multiple Properties Deduction Limits$100 Rule 10% Rule When To Report Gains and LossesDisaster Area Loss How To Report Gains and Losses 26. Printable 2011 tax forms   Car Expenses and Other Employee Business ExpensesWhat's New Introduction Useful Items - You may want to see: Travel ExpensesTraveling Away From Home Tax Home Temporary Assignment or Job What Travel Expenses Are Deductible? Travel in the United States Travel Outside the United States Conventions Entertainment Expenses50% Limit What Entertainment Expenses Are Deductible? What Entertainment Expenses Are Not Deductible? Gift Expenses Transportation ExpensesArmed Forces reservists. Printable 2011 tax forms Parking fees. Printable 2011 tax forms Advertising display on car. Printable 2011 tax forms Car pools. Printable 2011 tax forms Hauling tools or instruments. Printable 2011 tax forms Union members' trips from a union hall. Printable 2011 tax forms Car Expenses RecordkeepingHow To Prove Expenses How Long To Keep Records and Receipts How To ReportGifts. Printable 2011 tax forms Statutory employees. Printable 2011 tax forms Reimbursements Completing Forms 2106 and 2106-EZ Special Rules 27. Printable 2011 tax forms   Tax Benefits for Work-Related EducationWhat's New Introduction Useful Items - You may want to see: Qualifying Work-Related EducationEducation Required by Employer or by Law Education To Maintain or Improve Skills Education To Meet Minimum Requirements Education That Qualifies You for a New Trade or Business What Expenses Can Be DeductedUnclaimed reimbursement. Printable 2011 tax forms Transportation Expenses Travel Expenses No Double Benefit Allowed Reimbursements Deducting Business ExpensesSelf-Employed Persons Employees Performing Artists and Fee-Basis Officials Impairment-Related Work Expenses Recordkeeping 28. Printable 2011 tax forms   Miscellaneous DeductionsWhat's New Introduction Useful Items - You may want to see: Deductions Subject to the 2% LimitUnreimbursed Employee Expenses (Line 21) Tax Preparation Fees (Line 22) Other Expenses (Line 23) Deductions Not Subject to the 2% LimitList of Deductions Nondeductible ExpensesList of Nondeductible Expenses 29. Printable 2011 tax forms   Limit on Itemized DeductionsIntroduction Useful Items - You may want to see: Are You Subject to the Limit? Which Itemized Deductions Are Limited? Which Itemized Deductions Are Not Limited? How Do You Figure the Limit?Example. Printable 2011 tax forms Prev  Up  Next   Home   More Online Publications
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The Printable 2011 Tax Forms

Printable 2011 tax forms 7. Printable 2011 tax forms   Depreciation, Depletion, and Amortization Table of Contents What's New for 2013 Introduction Topics - This chapter discusses: Useful Items - You may want to see: Overview of DepreciationWhat Property Can Be Depreciated? What Property Cannot Be Depreciated? When Does Depreciation Begin and End? Can You Use MACRS To Depreciate Your Property? What Is the Basis of Your Depreciable Property? How Do You Treat Repairs and Improvements? Do You Have To File Form 4562? How Do You Correct Depreciation Deductions? Section 179 Expense DeductionWhat Property Qualifies? What Property Does Not Qualify? How Much Can You Deduct? How Do You Elect the Deduction? When Must You Recapture the Deduction? Claiming the Special Depreciation AllowanceWhat is Qualified Property? How Can You Elect Not To Claim the Allowance? When Must You Recapture an Allowance Figuring Depreciation Under MACRSWhich Depreciation System (GDS or ADS) Applies? Which Property Class Applies Under GDS? What Is the Placed-in-Service Date? What Is the Basis for Depreciation? Which Recovery Period Applies? Which Convention Applies? Which Depreciation Method Applies? How Is the Depreciation Deduction Figured? How Do You Use General Asset Accounts? When Do You Recapture MACRS Depreciation? Additional Rules for Listed PropertyWhat Is Listed Property? What Is the Business-Use Requirement? Do the Passenger Automobile Limits Apply? Depletion Who Can Claim Depletion? Figuring Depletion AmortizationBusiness Start-Up Costs Reforestation Costs Section 197 Intangibles What's New for 2013 Increased section 179 expense deduction dollar limits. Printable 2011 tax forms  The maximum amount you can elect to deduct for most section 179 property you placed in service in 2013 is $500,000. Printable 2011 tax forms This limit is reduced by the amount by which the cost of the property placed in service during the tax year exceeds $2 million. Printable 2011 tax forms See Dollar Limits under Section 179 Expense Deduction , later. Printable 2011 tax forms Extension of special depreciation allowance for certain qualified property acquired after December 31, 2007. Printable 2011 tax forms . Printable 2011 tax forms  You may be able to take a 50% special depreciation allowance for certain qualified property acquired after December 31, 2007, and placed in service before January 1, 2014. Printable 2011 tax forms See Claiming the Special Depreciation Allowance , later. Printable 2011 tax forms Expiration of the 3- year recovery period for certain race horses. Printable 2011 tax forms  The 3-year recovery period for race horses two years old or younger will expire for such horses placed in service after December 31, 2013. Printable 2011 tax forms Introduction If you buy or make improvements to farm property such as machinery, equipment, livestock, or a structure with a useful life of more than a year, you generally cannot deduct its entire cost in one year. Printable 2011 tax forms Instead, you must spread the cost over the time you use the property and deduct part of it each year. Printable 2011 tax forms For most types of property, this is called depreciation. Printable 2011 tax forms This chapter gives information on depreciation methods that generally apply to property placed in service after 1986. Printable 2011 tax forms For information on depreciating pre-1987 property, see Publication 534, Depreciating Property Placed in Service Before 1987. Printable 2011 tax forms Topics - This chapter discusses: Overview of depreciation Section 179 expense deduction Special depreciation allowance Modified Accelerated Cost Recovery System (MACRS) Listed property Basic information on cost depletion (including timber depletion) and percentage depletion Amortization of the costs of going into business, reforestation costs, the costs of pollution control facilities, and the costs of section 197 intangibles Useful Items - You may want to see: Publication 463 Travel, Entertainment, Gift, and Car Expenses 534 Depreciating Property Placed in Service Before 1987 535 Business Expenses 544 Sales and Other Dispositions of Assets 551 Basis of Assets 946 How To Depreciate Property Form (and Instructions) T (Timber), Forest Activities Schedule 3115 Application for Change in Accounting Method 4562 Depreciation and Amortization 4797 Sales of Business Property See chapter 16 for information about getting publications and forms. Printable 2011 tax forms It is important to keep good records for property you depreciate. Printable 2011 tax forms Do not file these records with your return. Printable 2011 tax forms Instead, you should keep them as part of the permanent records of the depreciated property. Printable 2011 tax forms They will help you verify the accuracy of the depreciation of assets placed in service in the current and previous tax years. Printable 2011 tax forms For general information on recordkeeping, see Publication 583, Starting a Business and Keeping Records. Printable 2011 tax forms For specific information on keeping records for section 179 property and listed property, see Publication 946, How To Depreciate Property. Printable 2011 tax forms Overview of Depreciation This overview discusses basic information on the following. Printable 2011 tax forms What property can be depreciated. Printable 2011 tax forms What property cannot be depreciated. Printable 2011 tax forms When depreciation begins and ends. Printable 2011 tax forms Whether MACRS can be used to figure depreciation. Printable 2011 tax forms What is the basis of your depreciable property. Printable 2011 tax forms How to treat repairs and improvements. Printable 2011 tax forms When you must file Form 4562. Printable 2011 tax forms How you can correct depreciation claimed incorrectly. Printable 2011 tax forms What Property Can Be Depreciated? You can depreciate most types of tangible property (except land), such as buildings, machinery, equipment, vehicles, certain livestock, and furniture. Printable 2011 tax forms You can also depreciate certain intangible property, such as copyrights, patents, and computer software. Printable 2011 tax forms To be depreciable, the property must meet all the following requirements. Printable 2011 tax forms It must be property you own. Printable 2011 tax forms It must be used in your business or income-producing activity. Printable 2011 tax forms It must have a determinable useful life. Printable 2011 tax forms It must have a useful life that extends substantially beyond the year you place it in service. Printable 2011 tax forms Property You Own To claim depreciation, you usually must be the owner of the property. Printable 2011 tax forms You are considered as owning property even if it is subject to a debt. Printable 2011 tax forms Leased property. Printable 2011 tax forms   You can depreciate leased property only if you retain the incidents of ownership in the property. Printable 2011 tax forms This means you bear the burden of exhaustion of the capital investment in the property. Printable 2011 tax forms Therefore, if you lease property from someone to use in your trade or business or for the production of income, you generally cannot depreciate its cost because you do not retain the incidents of ownership. Printable 2011 tax forms You can, however, depreciate any capital improvements you make to the leased property. Printable 2011 tax forms See Additions and Improvements under Which Recovery Period Applies in chapter 4 of Publication 946. Printable 2011 tax forms   If you lease property to someone, you generally can depreciate its cost even if the lessee (the person leasing from you) has agreed to preserve, replace, renew, and maintain the property. Printable 2011 tax forms However, you cannot depreciate the cost of the property if the lease provides that the lessee is to maintain the property and return to you the same property or its equivalent in value at the expiration of the lease in as good condition and value as when leased. Printable 2011 tax forms Life tenant. Printable 2011 tax forms   Generally, if you hold business or investment property as a life tenant, you can depreciate it as if you were the absolute owner of the property. Printable 2011 tax forms See Certain term interests in property , later, for an exception. Printable 2011 tax forms Property Used in Your Business or Income-Producing Activity To claim depreciation on property, you must use it in your business or income-producing activity. Printable 2011 tax forms If you use property to produce income (investment use), the income must be taxable. Printable 2011 tax forms You cannot depreciate property that you use solely for personal activities. Printable 2011 tax forms However, if you use property for business or investment purposes and for personal purposes, you can deduct depreciation based only on the percentage of business or investment use. Printable 2011 tax forms Example 1. Printable 2011 tax forms   If you use your car for farm business, you can deduct depreciation based on its percentage of use in farming. Printable 2011 tax forms If you also use it for investment purposes, you can depreciate it based on its percentage of investment use. Printable 2011 tax forms Example 2. Printable 2011 tax forms   If you use part of your home for business, you may be able to deduct depreciation on that part based on its business use. Printable 2011 tax forms For more information, see Business Use of Your Home in chapter 4. Printable 2011 tax forms Inventory. Printable 2011 tax forms   You can never depreciate inventory because it is not held for use in your business. Printable 2011 tax forms Inventory is any property you hold primarily for sale to customers in the ordinary course of your business. Printable 2011 tax forms Livestock. Printable 2011 tax forms   Livestock purchased for draft, breeding, or dairy purposes can be depreciated only if they are not kept in an inventory account. Printable 2011 tax forms Livestock you raise usually has no depreciable basis because the costs of raising them are deducted and not added to their basis. Printable 2011 tax forms However, see Immature livestock under When Does Depreciation Begin and End , later, for a special rule. Printable 2011 tax forms Property Having a Determinable Useful Life To be depreciable, your property must have a determinable useful life. Printable 2011 tax forms This means it must be something that wears out, decays, gets used up, becomes obsolete, or loses its value from natural causes. Printable 2011 tax forms Irrigation systems and water wells. Printable 2011 tax forms   Irrigation systems and wells used in a trade or business can be depreciated if their useful life can be determined. Printable 2011 tax forms You can depreciate irrigation systems and wells composed of masonry, concrete, tile, metal, or wood. Printable 2011 tax forms In addition, you can depreciate costs for moving dirt to construct irrigation systems and water wells composed of these materials. Printable 2011 tax forms However, land preparation costs for center pivot irrigation systems are not depreciable. Printable 2011 tax forms Dams, ponds, and terraces. Printable 2011 tax forms   In general, you cannot depreciate earthen dams, ponds, and terraces unless the structures have a determinable useful life. Printable 2011 tax forms What Property Cannot Be Depreciated? Certain property cannot be depreciated, even if the requirements explained earlier are met. Printable 2011 tax forms This includes the following. Printable 2011 tax forms Land. Printable 2011 tax forms You can never depreciate the cost of land because land does not wear out, become obsolete, or get used up. Printable 2011 tax forms The cost of land generally includes the cost of clearing, grading, planting, and landscaping. Printable 2011 tax forms Although you cannot depreciate land, you can depreciate certain costs incurred in preparing land for business use. Printable 2011 tax forms See chapter 1 of Publication 946. Printable 2011 tax forms Property placed in service and disposed of in the same year. Printable 2011 tax forms Determining when property is placed in service is explained later. Printable 2011 tax forms Equipment used to build capital improvements. Printable 2011 tax forms You must add otherwise allowable depreciation on the equipment during the period of construction to the basis of your improvements. Printable 2011 tax forms Intangible property such as section 197 intangibles. Printable 2011 tax forms This property does not have a determinable useful life and generally cannot be depreciated. Printable 2011 tax forms However, see Amortization , later. Printable 2011 tax forms Special rules apply to computer software (discussed below). Printable 2011 tax forms Certain term interests (discussed below). Printable 2011 tax forms Computer software. Printable 2011 tax forms   Computer software is generally not a section 197 intangible even if acquired in connection with the acquisition of a business, if it meets all of the following tests. Printable 2011 tax forms It is readily available for purchase by the general public. Printable 2011 tax forms It is subject to a nonexclusive license. Printable 2011 tax forms It has not been substantially modified. Printable 2011 tax forms   If the software meets the tests above, it can be depreciated and may qualify for the section 179 expense deduction and the special depreciation allowance (if applicable), discussed later. Printable 2011 tax forms Certain term interests in property. Printable 2011 tax forms   You cannot depreciate a term interest in property created or acquired after July 27, 1989, for any period during which the remainder interest is held, directly or indirectly, by a person related to you. Printable 2011 tax forms This rule does not apply to the holder of a term interest in property acquired by gift, bequest, or inheritance. Printable 2011 tax forms For more information, see chapter 1 of Publication 946. Printable 2011 tax forms When Does Depreciation Begin and End? You begin to depreciate your property when you place it in service for use in your trade or business or for the production of income. Printable 2011 tax forms You stop depreciating property either when you have fully recovered your cost or other basis or when you retire it from service, whichever happens first. Printable 2011 tax forms Placed in Service Property is placed in service when it is ready and available for a specific use, whether in a business activity, an income-producing activity, a tax-exempt activity, or a personal activity. Printable 2011 tax forms Even if you are not using the property, it is in service when it is ready and available for its specific use. Printable 2011 tax forms Example. Printable 2011 tax forms You bought a planter for use in your farm business. Printable 2011 tax forms The planter was delivered in December 2012 after harvest was over. Printable 2011 tax forms You begin to depreciate the planter for 2012 because it was ready and available for its specific use in 2012, even though it will not be used until the spring of 2013. Printable 2011 tax forms If your planter comes unassembled in December 2012 and is put together in February 2013, it is not placed in service until 2013. Printable 2011 tax forms You begin to depreciate it in 2013. Printable 2011 tax forms If your planter was delivered and assembled in February 2013 but not used until April 2013, it is placed in service in February 2013, because this is when the planter was ready for its specified use. Printable 2011 tax forms You begin to depreciate it in 2013. Printable 2011 tax forms Fruit or nut trees and vines. Printable 2011 tax forms   If you acquire an orchard, grove, or vineyard before the trees or vines have reached the income-producing stage, and they have a preproductive period of more than 2 years, you must capitalize the preproductive-period costs under the uniform capitalization rules (unless you elect not to use these rules). Printable 2011 tax forms See chapter 6 for information about the uniform capitalization rules. Printable 2011 tax forms Your depreciation begins when the trees and vines reach the income-producing stage (that is, when they bear fruit, nuts, or grapes in quantities sufficient to commercially warrant harvesting). Printable 2011 tax forms Immature livestock. Printable 2011 tax forms   Depreciation for livestock begins when the livestock reaches the age of maturity. Printable 2011 tax forms If you bought immature livestock for drafting purposes, depreciation begins when they can be worked. Printable 2011 tax forms If you bought immature livestock for dairy purposes, depreciation begins when they can be milked. Printable 2011 tax forms If you bought immature livestock for breeding purposes, depreciation begins when they can be bred. Printable 2011 tax forms Your basis for depreciation is your initial cost for the immature livestock. Printable 2011 tax forms Idle Property Continue to claim a deduction for depreciation on property used in your business or for the production of income even if it is temporarily idle. Printable 2011 tax forms For example, if you stop using a machine because there is a temporary lack of a market for a product made with that machine, continue to deduct depreciation on the machine. Printable 2011 tax forms Cost or Other Basis Fully Recovered You stop depreciating property when you have fully recovered your cost or other basis. Printable 2011 tax forms This happens when your section 179 and allowed or allowable depreciation deductions equal your cost or investment in the property. Printable 2011 tax forms Retired From Service You stop depreciating property when you retire it from service, even if you have not fully recovered its cost or other basis. Printable 2011 tax forms You retire property from service when you permanently withdraw it from use in a trade or business or from use in the production of income because of any of the following events. Printable 2011 tax forms You sell or exchange the property. Printable 2011 tax forms You convert the property to personal use. Printable 2011 tax forms You abandon the property. Printable 2011 tax forms You transfer the property to a supplies or scrap account. Printable 2011 tax forms The property is destroyed. Printable 2011 tax forms For information on abandonment of property, see chapter 8. Printable 2011 tax forms For information on destroyed property, see chapter 11 and Publication 547, Casualties, Disasters, and Thefts. Printable 2011 tax forms Can You Use MACRS To Depreciate Your Property? You must use the Modified Accelerated Cost Recovery System (MACRS) to depreciate most business and investment property placed in service after 1986. Printable 2011 tax forms MACRS is explained later under Figuring Depreciation Under MACRS . Printable 2011 tax forms You cannot use MACRS to depreciate the following property. Printable 2011 tax forms Property you placed in service before 1987. Printable 2011 tax forms Use the methods discussed in Publication 534. Printable 2011 tax forms Certain property owned or used in 1986. Printable 2011 tax forms See chapter 1 of Publication 946. Printable 2011 tax forms Intangible property. Printable 2011 tax forms Films, video tapes, and recordings. Printable 2011 tax forms Certain corporate or partnership property acquired in a nontaxable transfer. Printable 2011 tax forms Property you elected to exclude from MACRS. Printable 2011 tax forms For more information, see chapter 1 of Publication 946. Printable 2011 tax forms What Is the Basis of Your Depreciable Property? To figure your depreciation deduction, you must determine the basis of your property. Printable 2011 tax forms To determine basis, you need to know the cost or other basis of your property. Printable 2011 tax forms Cost or other basis. Printable 2011 tax forms   The basis of property you buy is usually its cost plus amounts you paid for items such as sales tax, freight charges, and installation and testing fees. Printable 2011 tax forms The cost includes the amount you pay in cash, debt obligations, other property, or services. Printable 2011 tax forms   There are times when you cannot use cost as basis. Printable 2011 tax forms In these situations, the fair market value (FMV) or the adjusted basis of the property may be used. Printable 2011 tax forms Adjusted basis. Printable 2011 tax forms   To find your property's basis for depreciation, you may have to make certain adjustments (increases and decreases) to the basis of the property for events occurring between the time you acquired the property and the time you placed it in service. Printable 2011 tax forms Basis adjustment for depreciation allowed or allowable. Printable 2011 tax forms   After you place your property in service, you must reduce the basis of the property by the depreciation allowed or allowable, whichever is greater. Printable 2011 tax forms Depreciation allowed is depreciation you actually deducted (from which you received a tax benefit). Printable 2011 tax forms Depreciation allowable is depreciation you are entitled to deduct. Printable 2011 tax forms   If you do not claim depreciation you are entitled to deduct, you must still reduce the basis of the property by the full amount of depreciation allowable. Printable 2011 tax forms   If you deduct more depreciation than you should, you must reduce your basis by any amount deducted from which you received a tax benefit (the depreciation allowed). Printable 2011 tax forms   For more information, see chapter 6. Printable 2011 tax forms How Do You Treat Repairs and Improvements? You generally deduct the cost of repairing business property in the same way as any other business expense. Printable 2011 tax forms However, if a repair or replacement increases the value of your property, makes it more useful, or lengthens its life, you must treat it as an improvement and depreciate it. Printable 2011 tax forms Treat improvements as separate depreciable property. Printable 2011 tax forms See chapter 1 of Publication 946 for more information. Printable 2011 tax forms Example. Printable 2011 tax forms You repair a small section on a corner of the roof of a barn that you rent to others. Printable 2011 tax forms You deduct the cost of the repair as a business expense. Printable 2011 tax forms However, if you replace the entire roof, the new roof is considered to be an improvement because it increases the value and lengthens the life for the property. Printable 2011 tax forms You depreciate the cost of the new roof. Printable 2011 tax forms Improvements to rented property. Printable 2011 tax forms   You can depreciate permanent improvements you make to business property you rent from someone else. Printable 2011 tax forms Do You Have To File Form 4562? Use Form 4562 to claim your deduction for depreciation and amortization. Printable 2011 tax forms You must complete and attach Form 4562 to your tax return if you are claiming any of the following. Printable 2011 tax forms A section 179 expense deduction for the current year or a section 179 carryover from a prior year. Printable 2011 tax forms Depreciation for property placed in service during the current year. Printable 2011 tax forms Depreciation on any vehicle or other listed property, regardless of when it was placed in service. Printable 2011 tax forms Amortization of costs that began in the current year. Printable 2011 tax forms For more information, see the Instructions for Form 4562. Printable 2011 tax forms How Do You Correct Depreciation Deductions? If you deducted an incorrect amount of depreciation in any year, you may be able to make a correction by filing an amended return for that year. Printable 2011 tax forms You can file an amended return to correct the amount of depreciation claimed for any property in any of the following situations. Printable 2011 tax forms You claimed the incorrect amount because of a mathematical error made in any year. Printable 2011 tax forms You claimed the incorrect amount because of a posting error made in any year, for example, omitting an asset from the depreciation schedule. Printable 2011 tax forms You have not adopted a method of accounting for the property placed in service by you in tax years ending after December 29, 2003. Printable 2011 tax forms You claimed the incorrect amount on property placed in service by you in tax years ending before December 30, 2003. Printable 2011 tax forms Note. Printable 2011 tax forms You have adopted a method of accounting if you used the same incorrect method of depreciation for two or more consecutively filed returns. Printable 2011 tax forms If you are not allowed to make the correction on an amended return, you may be able to change your accounting method to claim the correct amount of depreciation. Printable 2011 tax forms See the Instructions for Form 3115. Printable 2011 tax forms Section 179 Expense Deduction You can elect to recover all or part of the cost of certain qualifying property, up to a limit, by deducting it in the year you place the property in service. Printable 2011 tax forms This is the section 179 expense deduction. Printable 2011 tax forms You can elect the section 179 expense deduction instead of recovering the cost by taking depreciation deductions. Printable 2011 tax forms This part of the chapter explains the rules for the section 179 expense deduction. Printable 2011 tax forms It explains what property qualifies for the deduction, what property does not qualify for the deduction, the limits that may apply, how to elect the deduction, and when you may have to recapture the deduction. Printable 2011 tax forms For more information, see chapter 2 of Publication 946. Printable 2011 tax forms What Property Qualifies? To qualify for the section 179 expense deduction, your property must meet all the following requirements. Printable 2011 tax forms It must be eligible property. Printable 2011 tax forms It must be acquired for business use. Printable 2011 tax forms It must have been acquired by purchase. Printable 2011 tax forms Eligible Property To qualify for the section 179 expense deduction, your property must be one of the following types of depreciable property. Printable 2011 tax forms Tangible personal property. Printable 2011 tax forms Qualified real property. Printable 2011 tax forms (Special rules apply to qualified real property that you elect to treat as qualified section 179 real property. Printable 2011 tax forms For more information, see chapter 2 of Publication 946 and section 179(f) of the Internal Revenue Code. Printable 2011 tax forms ) Other tangible property (except buildings and their structural components) used as: An integral part of manufacturing, production, or extraction or of furnishing transportation, communications, electricity, gas, water, or sewage disposal services; A research facility used in connection with any of the activities in (a) above; or A facility used in connection with any of the activities in (a) for the bulk storage of fungible commodities. Printable 2011 tax forms Single purpose agricultural (livestock) or horticultural structures. Printable 2011 tax forms Storage facilities (except buildings and their structural components) used in connection with distributing petroleum or any primary product of petroleum. Printable 2011 tax forms Off-the-shelf computer software that is readily available for purchase by the general public, is subject to a nonexclusive lease, and has not been substantially modified. Printable 2011 tax forms Tangible personal property. Printable 2011 tax forms   Tangible personal property is any tangible property that is not real property. Printable 2011 tax forms It includes the following property. Printable 2011 tax forms Machinery and equipment. Printable 2011 tax forms Property contained in or attached to a building (other than structural components), such as milk tanks, automatic feeders, barn cleaners, and office equipment. Printable 2011 tax forms Gasoline storage tanks and pumps at retail service stations. Printable 2011 tax forms Livestock, including horses, cattle, hogs, sheep, goats, and mink and other fur-bearing animals. Printable 2011 tax forms Facility used for the bulk storage of fungible commodities. Printable 2011 tax forms   A facility used for the bulk storage of fungible commodities is qualifying property for purposes of the section 179 expense deduction if it is used in connection with any of the activities listed earlier in item (3)(a). Printable 2011 tax forms Bulk storage means the storage of a commodity in a large mass before it is used. Printable 2011 tax forms Grain bins. Printable 2011 tax forms   A grain bin is an example of a storage facility that is qualifying section 179 property. Printable 2011 tax forms It is a facility used in connection with the production of grain or livestock for the bulk storage of fungible commodities. Printable 2011 tax forms Single purpose agricultural or horticultural structures. Printable 2011 tax forms   A single purpose agricultural (livestock) or horticultural structure is qualifying property for purposes of the section 179 expense deduction. Printable 2011 tax forms Agricultural structure. Printable 2011 tax forms   A single purpose agricultural (livestock) structure is any building or enclosure specifically designed, constructed, and used for both the following reasons. Printable 2011 tax forms To house, raise, and feed a particular type of livestock and its produce. Printable 2011 tax forms To house the equipment, including any replacements, needed to house, raise, or feed the livestock. Printable 2011 tax forms For this purpose, livestock includes poultry. Printable 2011 tax forms   Single purpose structures are qualifying property if used, for example, to breed chickens or hogs, produce milk from dairy cattle, or produce feeder cattle or pigs, broiler chickens, or eggs. Printable 2011 tax forms The facility must include, as an integral part of the structure or enclosure, equipment necessary to house, raise, and feed the livestock. Printable 2011 tax forms Horticultural structure. Printable 2011 tax forms   A single purpose horticultural structure is either of the following. Printable 2011 tax forms A greenhouse specifically designed, constructed, and used for the commercial production of plants. Printable 2011 tax forms A structure specifically designed, constructed, and used for the commercial production of mushrooms. Printable 2011 tax forms Use of structure. Printable 2011 tax forms   A structure must be used only for the purpose that qualified it. Printable 2011 tax forms For example, a hog barn will not be qualifying property if you use it to house poultry. Printable 2011 tax forms Similarly, using part of your greenhouse to sell plants will make the greenhouse nonqualifying property. Printable 2011 tax forms   If a structure includes work space, the work space can be used only for the following activities. Printable 2011 tax forms Stocking, caring for, or collecting livestock or plants or their produce. Printable 2011 tax forms Maintaining the enclosure or structure. Printable 2011 tax forms Maintaining or replacing the equipment or stock enclosed or housed in the structure. Printable 2011 tax forms Property Acquired by Purchase To qualify for the section 179 expense deduction, your property must have been acquired by purchase. Printable 2011 tax forms For example, property acquired by gift or inheritance does not qualify. Printable 2011 tax forms Property acquired from a related person (that is, your spouse, ancestors, or lineal descendants) is not considered acquired by purchase. Printable 2011 tax forms Example. Printable 2011 tax forms Ken is a farmer. Printable 2011 tax forms He purchased two tractors, one from his brother and one from his father. Printable 2011 tax forms He placed both tractors in service in the same year he bought them. Printable 2011 tax forms The tractor purchased from his father does not qualify for the section 179 expense deduction because he is a related person (as defined above). Printable 2011 tax forms The tractor purchased from his brother does qualify for the deduction because Ken is not a related person (as defined above). Printable 2011 tax forms What Property Does Not Qualify? Land and improvements. Printable 2011 tax forms   Land and land improvements, do not qualify as section 179 property. Printable 2011 tax forms Land improvements include nonagricultural fences, swimming pools, paved parking areas, wharves, docks, bridges, and fences. Printable 2011 tax forms However, agricultural fences do qualify as section 179 property. Printable 2011 tax forms Similarly, field drainage tile also qualifies as section 179 property. Printable 2011 tax forms Excepted property. Printable 2011 tax forms   Even if the requirements explained in the preceding discussions are met, farmers cannot elect the section 179 expense deduction for the following property. Printable 2011 tax forms Certain property you lease to others (if you are a noncorporate lessor). Printable 2011 tax forms Certain property used predominantly to furnish lodging or in connection with the furnishing of lodging. Printable 2011 tax forms Property used by a tax-exempt organization (other than a tax-exempt farmers' cooperative) unless the property is used mainly in a taxable unrelated trade or business. Printable 2011 tax forms Property used by governmental units or foreign persons or entities (except property used under a lease with a term of less than 6 months). Printable 2011 tax forms How Much Can You Deduct? Your section 179 expense deduction is generally the cost of the qualifying property. Printable 2011 tax forms However, the total amount you can elect to deduct under section 179 is subject to a dollar limit and a business income limit. Printable 2011 tax forms These limits apply to each taxpayer, not to each business. Printable 2011 tax forms However, see Married individuals under Dollar Limits , later. Printable 2011 tax forms See also the special rules for applying the limits for partnerships and S corporations under Partnerships and S Corporations , later. Printable 2011 tax forms If you deduct only part of the cost of qualifying property as a section 179 expense deduction, you can generally depreciate the cost you do not deduct. Printable 2011 tax forms Use Part I of Form 4562 to figure your section 179 expense deduction. Printable 2011 tax forms Partial business use. Printable 2011 tax forms   When you use property for business and nonbusiness purposes, you can elect the section 179 expense deduction only if you use it more than 50% for business in the year you place it in service. Printable 2011 tax forms If you used the property more than 50% for business, multiply the cost of the property by the percentage of business use. Printable 2011 tax forms Use the resulting business cost to figure your section 179 expense deduction. Printable 2011 tax forms Trade-in of other property. Printable 2011 tax forms   If you buy qualifying property with cash and a trade-in, its cost for purposes of the section 179 expense deduction includes only the cash you paid. Printable 2011 tax forms For example, if you buy (for cash and a trade-in) a new tractor for use in your business, your cost for the section 179 expense deduction is the cash you paid. Printable 2011 tax forms It does not include the adjusted basis of the old tractor you trade for the new tractor. Printable 2011 tax forms Example. Printable 2011 tax forms J-Bar Farms traded two cultivators having a total adjusted basis of $6,800 for a new cultivator costing $13,200. Printable 2011 tax forms They received an $8,000 trade-in allowance for the old cultivators and paid $5,200 cash for the new cultivator. Printable 2011 tax forms J-Bar also traded a used pickup truck with an adjusted basis of $8,000 for a new pickup truck costing $35,000. Printable 2011 tax forms They received a $5,000 trade-in allowance and paid $30,000 cash for the new pickup truck. Printable 2011 tax forms Only the cash paid by J-Bar qualifies for the section 179 expense deduction. Printable 2011 tax forms J-Bar's business costs that qualify for a section 179 expense deduction are $35,200 ($5,200 + $30,000). Printable 2011 tax forms Dollar Limits The total amount you can elect to deduct under section 179 for most property placed in service in 2013 is $500,000. Printable 2011 tax forms If you acquire and place in service more than one item of qualifying property during the year, you can allocate the section 179 expense deduction among the items in any way, as long as the total deduction is not more than $500,000. Printable 2011 tax forms Qualified real property that you elect to treat as section 179 property is limited to $250,000 of the maximum section 179 deduction of $500,000 for 2013. Printable 2011 tax forms You do not have to claim the full $500,000. Printable 2011 tax forms For specific information on the section 179 dollar limits, see chapter 2 of Publication 946. Printable 2011 tax forms Reduced dollar limit for cost exceeding $2 million. Printable 2011 tax forms   If the cost of your qualifying section 179 property placed in service in 2013 is over $2 million, you must reduce the dollar limit (but not below zero) by the amount of cost over $2 million. Printable 2011 tax forms If the cost of your section 179 property placed in service during 2013 is $2,500,000 or more, you cannot take a section 179 expense deduction and you cannot carry over the cost that is more than $2,500,000. Printable 2011 tax forms Example. Printable 2011 tax forms This year, James Smith placed in service machinery costing $2,050,000. Printable 2011 tax forms Because this cost is $50,000 more than $2 million, he must reduce his dollar limit to $450,000 ($500,000 − $50,000). Printable 2011 tax forms Limits for sport utility vehicles. Printable 2011 tax forms   The total amount you can elect to deduct for certain sport utility vehicles and certain other vehicles placed in service in 2013 is $25,000. Printable 2011 tax forms This rule applies to any 4-wheeled vehicle primarily designed or used to carry passengers over public streets, roads, and highways that is rated at more than 6,000 pounds gross vehicle weight and not more than 14,000 pounds gross vehicle weight. Printable 2011 tax forms   For more information, see chapter 2 of Publication 946. Printable 2011 tax forms Limits for passenger automobiles. Printable 2011 tax forms   For a passenger automobile that is placed in service in 2013, the total section 179 and depreciation deduction is limited. Printable 2011 tax forms See Do the Passenger Automobile Limits Apply , later. Printable 2011 tax forms Married individuals. Printable 2011 tax forms   If you are married, how you figure your section 179 expense deduction depends on whether you file jointly or separately. Printable 2011 tax forms If you file a joint return, you and your spouse are treated as one taxpayer in determining any reduction to the dollar limit, regardless of which of you purchased the property or placed it in service. Printable 2011 tax forms If you and your spouse file separate returns, you are treated as one taxpayer for the dollar limit, including the reduction for costs over $2 million. Printable 2011 tax forms You must allocate the dollar limit (after any reduction) equally between you, unless you both elect a different allocation. Printable 2011 tax forms If the percentages elected by each of you do not total 100%, 50% will be allocated to each of you. Printable 2011 tax forms Joint return after separate returns. Printable 2011 tax forms   If you and your spouse elect to amend your separate returns by filing a joint return after the due date for filing your return, the dollar limit on the joint return is the lesser of the following amounts. Printable 2011 tax forms The dollar limit (after reduction for any cost of section 179 property over $2 million). Printable 2011 tax forms The total cost of section 179 property you and your spouse elected to expense on your separate returns. Printable 2011 tax forms Business Income Limit The total cost you can deduct each year after you apply the dollar limit is limited to the taxable income from the active conduct of any trade or business during the year. Printable 2011 tax forms Generally, you are considered to actively conduct a trade or business if you meaningfully participate in the management or operations of the trade or business. Printable 2011 tax forms Any cost not deductible in one year under section 179 because of this limit can be carried to the next year. Printable 2011 tax forms See Carryover of disallowed deduction , later. Printable 2011 tax forms Taxable income. Printable 2011 tax forms   In general, figure taxable income for this purpose by totaling the net income and losses from all trades and businesses you actively conducted during the year. Printable 2011 tax forms In addition to net income or loss from a sole proprietorship, partnership, or S corporation, net income or loss derived from a trade or business also includes the following items. Printable 2011 tax forms Section 1231 gains (or losses) as discussed in chapter 9. Printable 2011 tax forms Interest from working capital of your trade or business. Printable 2011 tax forms Wages, salaries, tips, or other pay earned by you (or your spouse if you file a joint return) as an employee of any employer. Printable 2011 tax forms   In addition, figure taxable income without regard to any of the following. Printable 2011 tax forms The section 179 expense deduction. Printable 2011 tax forms The self-employment tax deduction. Printable 2011 tax forms Any net operating loss carryback or carryforward. Printable 2011 tax forms Any unreimbursed employee business expenses. Printable 2011 tax forms Two different taxable income limits. Printable 2011 tax forms   In addition to the business income limit for your section 179 expense deduction, you may have a taxable income limit for some other deduction (for example, charitable contributions). Printable 2011 tax forms You may have to figure the limit for this other deduction taking into account the section 179 expense deduction. Printable 2011 tax forms If so, complete the following steps. Printable 2011 tax forms Step Action 1 Figure taxable income without the section 179 expense deduction or the other deduction. Printable 2011 tax forms 2 Figure a hypothetical section 179 expense deduction using the taxable income figured in Step 1. Printable 2011 tax forms 3 Subtract the hypothetical section 179 expense deduction figured in Step 2 from the taxable income figured in Step 1. Printable 2011 tax forms 4 Figure a hypothetical amount for the other deduction using the amount figured in Step 3 as taxable income. Printable 2011 tax forms 5 Subtract the hypothetical other deduction figured in Step 4 from the taxable income figured in  Step 1. Printable 2011 tax forms 6 Figure your actual section 179 expense deduction using the taxable income figured in Step 5. Printable 2011 tax forms 7 Subtract your actual section 179 expense deduction figured in Step 6 from the taxable income figured in Step 1. Printable 2011 tax forms 8 Figure your actual other deduction using the taxable income figured in Step 7. Printable 2011 tax forms Example. Printable 2011 tax forms On February 1, 2013, the XYZ farm corporation purchased and placed in service qualifying section 179 property that cost $500,000. Printable 2011 tax forms It elects to expense the entire $500,000 cost under section 179. Printable 2011 tax forms In June, the corporation gave a charitable contribution of $10,000. Printable 2011 tax forms A corporation's limit on charitable contributions is figured after subtracting any section 179 expense deduction. Printable 2011 tax forms The business income limit for the section 179 expense deduction is figured after subtracting any allowable charitable contributions. Printable 2011 tax forms XYZ's taxable income figured without the section 179 expense deduction or the deduction for charitable contributions is $520,000. Printable 2011 tax forms XYZ figures its section 179 expense deduction and its deduction for charitable contributions as follows. Printable 2011 tax forms Step 1. Printable 2011 tax forms Taxable income figured without either deduction is $520,000. Printable 2011 tax forms Step 2. Printable 2011 tax forms Using $520,000 as taxable income, XYZ's hypothetical section 179 expense deduction is $500,000. Printable 2011 tax forms Step 3. Printable 2011 tax forms $20,000 ($520,000 − $500,000). Printable 2011 tax forms Step 4. Printable 2011 tax forms Using $20,000 (from Step 3) as taxable income, XYZ's hypothetical charitable contribution (limited to 10% of taxable income) is $2,000. Printable 2011 tax forms Step 5. Printable 2011 tax forms $518,000 ($520,000 − $2,000). Printable 2011 tax forms Step 6. Printable 2011 tax forms Using $518,000 (from Step 5) as taxable income, XYZ figures the actual section 179 expense deduction. Printable 2011 tax forms Because the taxable income is at least $500,000, XYZ can take a $500,000 section 179 expense deduction. Printable 2011 tax forms Step 7. Printable 2011 tax forms $20,000 ($520,000 − $500,000). Printable 2011 tax forms Step 8. Printable 2011 tax forms Using $20,000 (from Step 7) as taxable income, XYZ's actual charitable contribution (limited to 10% of taxable income) is $2,000. Printable 2011 tax forms Carryover of disallowed deduction. Printable 2011 tax forms   You can carry over for an unlimited number of years the cost of any section 179 property you elected to expense but were unable to because of the business income limit. Printable 2011 tax forms   The amount you carry over is used in determining your section 179 expense deduction in the next year. Printable 2011 tax forms However, it is subject to the limits in that year. Printable 2011 tax forms If you place more than one property in service in a year, you can select the properties for which all or a part of the cost will be carried forward. Printable 2011 tax forms Your selections must be shown in your books and records. Printable 2011 tax forms Example. Printable 2011 tax forms Last year, Joyce Jones placed in service a machine that cost $8,000 and elected to deduct all $8,000 under section 179. Printable 2011 tax forms The taxable income from her business (determined without regard to both a section 179 expense deduction for the cost of the machine and the self-employment tax deduction) was $6,000. Printable 2011 tax forms Her section 179 expense deduction was limited to $6,000. Printable 2011 tax forms The $2,000 cost that was not allowed as a section 179 expense deduction (because of the business income limit) is carried to this year. Printable 2011 tax forms This year, Joyce placed another machine in service that cost $9,000. Printable 2011 tax forms Her taxable income from business (determined without regard to both a section 179 expense deduction for the cost of the machine and the self-employment tax deduction) is $10,000. Printable 2011 tax forms Joyce can deduct the full cost of the machine ($9,000) but only $1,000 of the carryover from last year because of the business income limit. Printable 2011 tax forms She can carry over the balance of $1,000 to next year. Printable 2011 tax forms Partnerships and S Corporations The section 179 expense deduction limits apply both to the partnership or S corporation and to each partner or shareholder. Printable 2011 tax forms The partnership or S corporation determines its section 179 expense deduction subject to the limits. Printable 2011 tax forms It then allocates the deduction among its partners or shareholders. Printable 2011 tax forms If you are a partner in a partnership or shareholder of an S corporation, you add the amount allocated from the partnership or S corporation to any section 179 costs not related to the partnership or S corporation and then apply the dollar limit to this total. Printable 2011 tax forms To determine any reduction in the dollar limit for costs over $560,000, you do not include any of the cost of section 179 property placed in service by the partnership or S corporation. Printable 2011 tax forms After you apply the dollar limit, you apply the business income limit to any remaining section 179 costs. Printable 2011 tax forms For more information, see chapter 2 of Publication 946. Printable 2011 tax forms Example. Printable 2011 tax forms In 2013, Partnership P placed in service section 179 property with a total cost of $2,160,000. Printable 2011 tax forms P must reduce its dollar limit by $160,000 ($2,160,000 − $2,000,000). Printable 2011 tax forms Its maximum section 179 expense deduction is $340,000 ($500,000 − $160,000), and it elects to expense that amount. Printable 2011 tax forms Because P's taxable income from the active conduct of all its trades or businesses for the year was $400,000, it can deduct the full $340,000. Printable 2011 tax forms P allocates $100,000 of its section 179 expense deduction and $110,000 of its taxable income to John, one of its partners. Printable 2011 tax forms John also conducts a business as a sole proprietor and in 2013, placed in service in that business, section 179 property costing $28,000. Printable 2011 tax forms John's taxable income from that business was $10,000. Printable 2011 tax forms In addition to the $100,000 allocated from P, he elects to expense the $28,000 of his sole proprietorship's section 179 costs. Printable 2011 tax forms However, John's deduction is limited to his business taxable income of $120,000 ($110,000 from P plus $10,000 from his sole proprietorship). Printable 2011 tax forms He carries over $8,000 ($128,000 − $120,000) of the elected section 179 costs to 2014. Printable 2011 tax forms How Do You Elect the Deduction? You elect to take the section 179 expense deduction by completing Part I of Form 4562. Printable 2011 tax forms If you elect the deduction for listed property, complete Part V of  Form 4562 before completing Part I. Printable 2011 tax forms   File Form 4562 with either of the following: Your original tax return (whether or not you filed it timely), or An amended return filed within the time prescribed by law. Printable 2011 tax forms An election made on an amended return must specify the item of section 179 property to which the election applies and the part of the cost of each such item to be taken into account. Printable 2011 tax forms The amended return must also include any resulting adjustments to taxable income. Printable 2011 tax forms Revoking an election. Printable 2011 tax forms   An election (or any specification made in the election) to take a section 179 expense deduction for 2013 can be revoked without IRS approval by filing an amended return. Printable 2011 tax forms The amended return must be filed within the time prescribed by law. Printable 2011 tax forms The amended return must also include any resulting adjustments to taxable income (for example, allowable depreciation in that tax year for the item of section 179 property for which the election pertains. Printable 2011 tax forms ) Once made, the revocation is irrevocable. Printable 2011 tax forms When Must You Recapture the Deduction? You may have to recapture the section 179 expense deduction if, in any year during the property's recovery period, the percentage of business use drops to 50% or less. Printable 2011 tax forms In the year the business use drops to 50% or less, you include the recapture amount as ordinary income. Printable 2011 tax forms You also increase the basis of the property by the recapture amount. Printable 2011 tax forms Recovery periods for property are discussed later. Printable 2011 tax forms If you sell, exchange, or otherwise dispose of the property, do not figure the recapture amount under the rules explained in this discussion. Printable 2011 tax forms Instead, use the rules for recapturing depreciation explained in  chapter 9 under Section 1245 Property. Printable 2011 tax forms   If the property is listed property, do not figure the recapture amount under the rules explained in this discussion when the percentage of business use drops to 50% or less. Printable 2011 tax forms Instead, use the rules for recapturing depreciation explained in chapter 5 of Publication 946 under Recapture of Excess Depreciation. Printable 2011 tax forms Figuring the recapture amount. Printable 2011 tax forms   To figure the amount to recapture, take the following steps. Printable 2011 tax forms Figure the allowable depreciation for the section 179 expense deduction you claimed. Printable 2011 tax forms Begin with the year you placed the property in service and include the year of recapture. Printable 2011 tax forms Subtract the depreciation figured in (1) from the section 179 expense deduction you actually claimed. Printable 2011 tax forms The result is the amount you must recapture. Printable 2011 tax forms Example. Printable 2011 tax forms In January 2011, Paul Lamb, a calendar year taxpayer, bought and placed in service section 179 property costing $10,000. Printable 2011 tax forms The property is not listed property. Printable 2011 tax forms He elected a $5,000 section 179 expense deduction for the property and also elected not to claim a special depreciation allowance. Printable 2011 tax forms He used the property only for business in 2011 and 2012. Printable 2011 tax forms During 2013, he used the property 40% for business and 60% for personal use. Printable 2011 tax forms He figures his recapture amount as follows. Printable 2011 tax forms Section 179 expense deduction claimed (2011) $5,000 Minus: Allowable depreciation (instead of section 179 expense deduction):   2011 $1,250   2012 1,875   2013 ($1,250 × 40% (business)) 500 3,625 2013 — Recapture amount $1,375     Paul must include $1,375 in income for 2013. Printable 2011 tax forms Where to report recapture. Printable 2011 tax forms   Report any recapture of the section 179 expense deduction as ordinary income in Part IV of Form 4797 and include it in income on Schedule F (Form 1040). Printable 2011 tax forms Recapture for qualified section 179 GO Zone property. Printable 2011 tax forms   If any qualified section 179 GO Zone property ceases to be used in the GO Zone in a later year, you must recapture the benefit of the increased section 179 expense deduction as “other income. Printable 2011 tax forms ” Claiming the Special Depreciation Allowance For qualified property (defined below) placed in service in 2013, you can take an additional 50% special depreciation allowance. Printable 2011 tax forms The allowance is an additional deduction you can take after any section 179 expense deduction and before you figure regular depreciation under MACRS. Printable 2011 tax forms Figure the special depreciation allowance by multiplying the depreciable basis of the qualified property by 50%. Printable 2011 tax forms What is Qualified Property? For farmers, qualified property generally is certain qualified property acquired after December 31, 2007, and placed in service before January 1, 2014. Printable 2011 tax forms Certain qualified property acquired after December 31, 2007, and placed in service before January 1, 2014. Printable 2011 tax forms   Certain qualified property (defined below) acquired after December 31, 2007, and before January 1, 2014, is eligible for a 50% special depreciation allowance. Printable 2011 tax forms   Qualified property includes the following: Tangible property depreciated under the Modified Accelerated Cost Recovery System (MACRS) with a recovery period of 20 years or less. Printable 2011 tax forms Water utility property. Printable 2011 tax forms Off-the-shelf computer software. Printable 2011 tax forms Qualified leasehold improvement property. Printable 2011 tax forms   Qualified property must also meet all of the following tests: You must have acquired qualified property by purchase after December 31, 2007. Printable 2011 tax forms If a binding contract to acquire the property existed before January 1, 2008, the property does not qualify. Printable 2011 tax forms Qualified property must be placed in service after December 31, 2007 and placed in service before January 1, 2014 (before January 1, 2015 for certain property with a long production period and for certain aircraft). Printable 2011 tax forms The original use of the property must begin with you after December 31, 2007. Printable 2011 tax forms For more information, see chapter 3 of Publication 946. Printable 2011 tax forms How Can You Elect Not To Claim the Allowance? You can elect, for any class of property, not to deduct the special depreciation allowance for all property in such class placed in service during the tax year. Printable 2011 tax forms To make the election, attach a statement to your return indicating the class of property for which you are making the election. Printable 2011 tax forms 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. Printable 2011 tax forms However, if you timely filed your return for the year without making the election, you still can make the election by filing an amended return within 6 months of the due date of the original return (not including extensions). Printable 2011 tax forms Attach the election statement to the amended return. Printable 2011 tax forms On the amended return, write “Filed pursuant to section 301. Printable 2011 tax forms 9100-2. Printable 2011 tax forms ” Once made, the election may not be revoked without IRS consent. Printable 2011 tax forms If you elect not to have the special depreciation allowance apply, the property may be subject to an alternative minimum tax adjustment for depreciation. Printable 2011 tax forms 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. Printable 2011 tax forms For more information, see chapter 3 of Publication 946. Printable 2011 tax forms Figuring Depreciation Under MACRS The Modified Accelerated Cost Recovery System (MACRS) is used to recover the basis of most business and investment property placed in service after 1986. Printable 2011 tax forms MACRS consists of two depreciation systems, the General Depreciation System (GDS) and the Alternative Depreciation System (ADS). Printable 2011 tax forms Generally, these systems provide different methods and recovery periods to use in figuring depreciation deductions. Printable 2011 tax forms To be sure you can use MACRS to figure depreciation for your property, see Can You Use MACRS To Depreciate Your Property, earlier. Printable 2011 tax forms This part explains how to determine which MACRS depreciation system applies to your property. Printable 2011 tax forms It also discusses the following information that you need to know before you can figure depreciation under MACRS. Printable 2011 tax forms Property's recovery class. Printable 2011 tax forms Placed-in-service date. Printable 2011 tax forms Basis for depreciation. Printable 2011 tax forms Recovery period. Printable 2011 tax forms Convention. Printable 2011 tax forms Depreciation method. Printable 2011 tax forms Finally, this part explains how to use this information to figure your depreciation deduction. Printable 2011 tax forms Which Depreciation System (GDS or ADS) Applies? Your use of either the General Depreciation System (GDS) or the Alternative Depreciation System (ADS) to depreciate property under MACRS determines what depreciation method and recovery period you use. Printable 2011 tax forms You generally must use GDS unless you are specifically required by law to use ADS or you elect to use ADS. Printable 2011 tax forms Required use of ADS. Printable 2011 tax forms   You must use ADS for the following property. Printable 2011 tax forms All property used predominantly in a farming business and placed in service in any tax year during which an election not to apply the uniform capitalization rules to certain farming costs is in effect. Printable 2011 tax forms Listed property used 50% or less in a qualified business use. Printable 2011 tax forms See Additional Rules for Listed Property , later. Printable 2011 tax forms Any tax-exempt use property. Printable 2011 tax forms Any tax-exempt bond-financed property. Printable 2011 tax forms Any property imported from a foreign country for which an Executive Order is in effect because the country maintains trade restrictions or engages in other discriminatory acts. Printable 2011 tax forms Any tangible property used predominantly outside the United States during the year. Printable 2011 tax forms If you are required to use ADS to depreciate your property, you cannot claim the special depreciation allowance. Printable 2011 tax forms Electing ADS. Printable 2011 tax forms   Although your property may qualify for GDS, you can elect to use ADS. Printable 2011 tax forms The election generally must cover all property in the same property class you placed in service during the year. Printable 2011 tax forms However, the election for residential rental property and nonresidential real property can be made on a property-by-property basis. Printable 2011 tax forms Once you make this election, you can never revoke it. Printable 2011 tax forms   You make the election by completing line 20 in Part III of Form 4562. Printable 2011 tax forms Which Property Class Applies Under GDS? The following is a list of the nine property classes under GDS. Printable 2011 tax forms 3-year property. Printable 2011 tax forms 5-year property. Printable 2011 tax forms 7-year property. Printable 2011 tax forms 10-year property. Printable 2011 tax forms 15-year property. Printable 2011 tax forms 20-year property. Printable 2011 tax forms 25-year property. Printable 2011 tax forms Residential rental property. Printable 2011 tax forms Nonresidential real property. Printable 2011 tax forms See Which Property Class Applies Under GDS in chapter 4 of Publication 946 for examples of the types of property included in each class. Printable 2011 tax forms What Is the Placed-in-Service Date? You begin to claim depreciation when your property is placed in service for use either in a trade or business or for the production of income. Printable 2011 tax forms The placed-in-service date for your property is the date the property is ready and available for a specific use. Printable 2011 tax forms It is therefore not necessarily the date it is first used. Printable 2011 tax forms If you converted property held for personal use to use in a trade or business or for the production of income, treat the property as being placed in service on the conversion date. Printable 2011 tax forms See Placed in Service under When Does Depreciation Begin and End , earlier, for examples illustrating when property is placed in service. Printable 2011 tax forms What Is the Basis for Depreciation? The basis for depreciation of MACRS property is the property's cost or other basis multiplied by the percentage of business/investment use. Printable 2011 tax forms Reduce that amount by any credits and deductions allocable to the property. Printable 2011 tax forms The following are examples of some of the credits and deductions that reduce basis. Printable 2011 tax forms Any deduction for section 179 property. Printable 2011 tax forms Any deduction for removal of barriers to the disabled and the elderly. Printable 2011 tax forms Any disabled access credit, enhanced oil recovery credit, and credit for employer-provided childcare facilities and services. Printable 2011 tax forms Any special depreciation allowance. Printable 2011 tax forms Basis adjustment for investment credit property under section 50(c) of the Internal Revenue Code. Printable 2011 tax forms For information about how to determine the cost or other basis of property, see What Is the Basis of Your Depreciable Property , earlier. Printable 2011 tax forms Also, see chapter 6. Printable 2011 tax forms For additional credits and deductions that affect basis, see section 1016 of the Internal Revenue Code. Printable 2011 tax forms Which Recovery Period Applies? The recovery period of property is the number of years over which you recover its cost or other basis. Printable 2011 tax forms It is determined based on the depreciation system (GDS or ADS) used. Printable 2011 tax forms See Table 7-1 for recovery periods under both GDS and ADS for some commonly used assets. Printable 2011 tax forms For a complete list of recovery periods, see the Table of Class Lives and Recovery Periods in Appendix B of Publication 946. Printable 2011 tax forms House trailers for farm laborers. Printable 2011 tax forms   To depreciate a house trailer you supply as housing for those who work on your farm, use one of the following recovery periods if the house trailer is mobile (it has wheels and a history of movement). Printable 2011 tax forms A 7-year recovery period under GDS. Printable 2011 tax forms A 10-year recovery period under ADS. Printable 2011 tax forms   However, if the house trailer is not mobile (its wheels have been removed and permanent utilities and pipes attached to it), use one of the following recovery periods. Printable 2011 tax forms A 20-year recovery period under GDS. Printable 2011 tax forms A 25-year recovery period under ADS. Printable 2011 tax forms Water wells. Printable 2011 tax forms   Water wells used to provide water for raising poultry and livestock are land improvements. Printable 2011 tax forms If they are depreciable, use one of the following recovery periods. Printable 2011 tax forms A 15-year recovery period under GDS. Printable 2011 tax forms A 20-year recovery period under ADS. Printable 2011 tax forms   The types of water wells that can be depreciated were discussed earlier in Irrigation systems and water wells under Property Having a Determinable Useful Life . Printable 2011 tax forms Table 7-1. Printable 2011 tax forms Farm Property Recovery Periods   Recovery Period in Years Assets GDS ADS Agricultural structures (single purpose) 10 15 Automobiles 5 5 Calculators and copiers 5 6 Cattle (dairy or breeding) 5 7 Communication equipment1 7 10 Computer and peripheral equipment 5 5 Drainage facilities 15 20 Farm buildings2 20 25 Farm machinery and equipment 7 10 Fences (agricultural) 7 10 Goats and sheep (breeding) 5 5 Grain bin 7 10 Hogs (breeding) 3 3 Horses (age when placed in service)     Breeding and working (12 years or less) 7 10 Breeding and working (more than 12 years) 3 10 Racing horses 3 12 Horticultural structures (single purpose) 10 15 Logging machinery and equipment3 5 6 Nonresidential real property 394 40 Office furniture, fixtures, and equipment (not calculators, copiers, or typewriters) 7 10 Paved lots 15 20 Residential rental property 27. Printable 2011 tax forms 5 40 Tractor units (over-the-road) 3 4 Trees or vines bearing fruit or nuts 10 20 Truck (heavy duty, unloaded weight 13,000 lbs. Printable 2011 tax forms or more) 5 6 Truck (actual weight less than 13,000 lbs) 5 5 Water wells 15 20 1 Not including communication equipment listed in other classes. Printable 2011 tax forms 2 Not including single purpose agricultural or horticultural structures. Printable 2011 tax forms 3 Used by logging and sawmill operators for cutting of timber. Printable 2011 tax forms 4 For property placed in service after May 12, 1993; for property placed in service before May 13, 1993,  the recovery period is 31. Printable 2011 tax forms 5 years. Printable 2011 tax forms Which Convention Applies? Under MACRS, averaging conventions establish when the recovery period begins and ends. Printable 2011 tax forms The convention you use determines the number of months for which you can claim depreciation in the year you place property in service and in the year you dispose of the property. Printable 2011 tax forms Use one of the following conventions. Printable 2011 tax forms The half-year convention. Printable 2011 tax forms The mid-month convention. Printable 2011 tax forms The mid-quarter convention. Printable 2011 tax forms For a detailed explanation of each convention, see Which Convention Applies in chapter 4 of Publication 946. Printable 2011 tax forms Also, see the Instructions for Form 4562. Printable 2011 tax forms Which Depreciation Method Applies? MACRS provides three depreciation methods under GDS and one depreciation method under ADS. Printable 2011 tax forms The 200% declining balance method over a GDS recovery period. Printable 2011 tax forms The 150% declining balance method over a GDS recovery period. Printable 2011 tax forms The straight line method over a GDS recovery period. Printable 2011 tax forms The straight line method over an ADS recovery period. Printable 2011 tax forms Depreciation Table. Printable 2011 tax forms   The following table lists the types of property you can depreciate under each method. Printable 2011 tax forms The declining balance method is abbreviated as DB and the straight line method is abbreviated as SL. Printable 2011 tax forms Depreciation Table System/Method   Type of Property GDS using  150% DB • All property used in a farming business (except real property)   • All 15- and 20-year property   • Nonfarm 3-, 5-, 7-, and 10-year property1 GDS using SL • Nonresidential real property   • Residential rental property   • Trees or vines bearing fruit or nuts   • All 3-, 5-, 7-, 10-, 15-, and 20-year property1 ADS using SL • Property used predomi- nantly outside the United States   • Farm property used when an election not to apply the uniform capitalization rules is in effect   • Tax-exempt property   • Tax-exempt bond-financed property   • Imported property2   • Any property for which you elect to use this method1 GDS using  200% DB • Nonfarm 3-, 5-, 7-, and 10-year property 1Elective method 2See section 168(g)(6) of the Internal Revenue  Code Property used in farming business. Printable 2011 tax forms   For personal property placed in service after 1988 in a farming business, you must use the 150% declining balance method over a GDS recovery period or you can elect one of the following methods. Printable 2011 tax forms The straight line method over a GDS recovery period. Printable 2011 tax forms The straight line method over an ADS recovery period. Printable 2011 tax forms For property placed in service before 1999, you could have elected to use the 150% declining balance method using the ADS recovery periods for certain property classes. Printable 2011 tax forms If you made this election, continue to use the same method and recovery period for that property. Printable 2011 tax forms Real property. Printable 2011 tax forms   You can depreciate real property using the straight line method under either GDS or ADS. Printable 2011 tax forms Switching to straight line. Printable 2011 tax forms   If you use a declining balance method, you switch to the straight line method in the year it provides an equal or greater deduction. Printable 2011 tax forms If you use the MACRS percentage tables, discussed later under How Is the Depreciation Deduction Figured , you do not need to determine in which year your deduction is greater using the straight line method. Printable 2011 tax forms The tables have the switch to the straight line method built into their rates. Printable 2011 tax forms Fruit or nut trees and vines. Printable 2011 tax forms   Depreciate trees and vines bearing fruit or nuts under GDS using the straight line method over a 10-year recovery period. Printable 2011 tax forms ADS required for some farmers. Printable 2011 tax forms   If you elect not to apply the uniform capitalization rules to any plant shown in Table 6-1 of chapter 6 and produced in your farming business, you must use ADS for all property you place in service in any year the election is in effect. Printable 2011 tax forms See chapter 6 for a discussion of the application of the uniform capitalization rules to farm property. Printable 2011 tax forms Electing a different method. Printable 2011 tax forms   As shown in the Depreciation Table , you can elect a different method for depreciation for certain types of property. Printable 2011 tax forms You must make the election by the due date of the return (including extensions) for the year you placed the property in service. Printable 2011 tax forms 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 your return (excluding extensions). Printable 2011 tax forms Attach the election to the amended return and write “Filed pursuant to section 301. Printable 2011 tax forms 9100-2” on the election statement. Printable 2011 tax forms File the amended return at the same address you filed the original return. Printable 2011 tax forms Once you make the election, you cannot change it. Printable 2011 tax forms    If you elect to use a different method for one item in a property class, you must apply the same method to all property in that class placed in service during the year of the election. Printable 2011 tax forms However, you can make the election on a property-by-property basis for residential rental and nonresidential real property. Printable 2011 tax forms Straight line election. Printable 2011 tax forms   Instead of using the declining balance method, you can elect to use the straight line method over the GDS recovery period. Printable 2011 tax forms Make the election by entering “S/L” under column (f) in Part III of Form 4562. Printable 2011 tax forms ADS election. Printable 2011 tax forms   As explained earlier under Which Depreciation System (GDS or ADS) Applies , you can elect to use ADS even though your property may come under GDS. Printable 2011 tax forms ADS uses the straight line method of depreciation over the ADS recovery periods, which are generally longer than the GDS recovery periods. Printable 2011 tax forms The ADS recovery periods for many assets used in the business of farming are listed in Table 7–1. Printable 2011 tax forms Additional ADS recovery periods for other classes of property may be found in the Table of Class Lives and Recovery Periods in Appendix B of Publication 946. Printable 2011 tax forms How Is the Depreciation Deduction Figured? To figure your depreciation deduction under MACRS, you first determine the depreciation system, property class, placed-in-service date, basis amount, recovery period, convention, and depreciation method that applies to your property. Printable 2011 tax forms Then you are ready to figure your depreciation deduction. Printable 2011 tax forms You can figure it in one of two ways. Printable 2011 tax forms You can use the percentage tables provided by the IRS. Printable 2011 tax forms You can figure your own deduction without using the tables. Printable 2011 tax forms Figuring your own MACRS deduction will generally result in a slightly different amount than using the tables. Printable 2011 tax forms Using the MACRS Percentage Tables To help you figure your deduction under MACRS, the IRS has established percentage tables that incorporate the applicable convention and depreciation method. Printable 2011 tax forms These percentage tables are in Appendix A of Publication 946. Printable 2011 tax forms Rules for using the tables. Printable 2011 tax forms   The following rules cover the use of the percentage tables. Printable 2011 tax forms You must apply the rates in the percentage tables to your property's unadjusted basis. Printable 2011 tax forms Unadjusted basis is the same basis amount you would use to figure gain on a sale but figured without reducing your original basis by any MACRS depreciation taken in earlier years. Printable 2011 tax forms You cannot use the percentage tables for a short tax year. Printable 2011 tax forms See chapter 4 of Publication 946 for information on how to figure the deduction for a short tax year. Printable 2011 tax forms You generally must continue to use them for the entire recovery period of the property. Printable 2011 tax forms You must stop using the tables if you adjust the basis of the property for any reason other than— Depreciation allowed or allowable, or An addition or improvement to the property, which is depreciated as a separate property. Printable 2011 tax forms Basis adjustment due to casualty loss. Printable 2011 tax forms   If you reduce the basis of your property because of a casualty, you cannot continue to use the percentage tables. Printable 2011 tax forms For the year of the adjustment and the remaining recovery period, you must figure the depreciation yourself using the property's adjusted basis at the end of the year. Printable 2011 tax forms See Figuring the Deduction Without Using the Tables in chapter 4 of Publication 946. Printable 2011 tax forms Figuring depreciation using the 150% DB method and half-year convention. Printable 2011 tax forms    Table 7-2 has the percentages for 3-, 5-, 7-, and 20-year property. Printable 2011 tax forms The percentages are based on the 150% declining balance method with a change to the straight line method. Printable 2011 tax forms This table covers only the half-year convention and the first 8 years for 20-year property. Printable 2011 tax forms See Appendix A in Publication 946 for complete MACRS tables, including tables for the mid-quarter and mid-month convention. Printable 2011 tax forms   The following examples show how to figure depreciation under MACRS using the percentages in Table 7-2 . Printable 2011 tax forms Example 1. Printable 2011 tax forms During the year, you bought an item of 7-year property for $10,000 and placed it in service. Printable 2011 tax forms You do not elect a section 179 expense deduction for this property. Printable 2011 tax forms In addition, the property is not qualified property for purposes of the special depreciation allowance. Printable 2011 tax forms The unadjusted basis of the property is $10,000. Printable 2011 tax forms You use the percentages in Table 7-2 to figure your deduction. Printable 2011 tax forms Since this is 7-year property, you multiply $10,000 by 10. Printable 2011 tax forms 71% to get this year's depreciation of $1,071. Printable 2011 tax forms For next year, your depreciation will be $1,913 ($10,000 × 19. Printable 2011 tax forms 13%). Printable 2011 tax forms Example 2. Printable 2011 tax forms You had a barn constructed on your farm at a cost of $20,000. Printable 2011 tax forms You placed the barn in service this year. Printable 2011 tax forms You elect not to claim the special depreciation allowance. Printable 2011 tax forms The barn is 20-year property and you use the table percentages to figure your deduction. Printable 2011 tax forms You figure this year's depreciation by multiplying $20,000 (unadjusted basis) by 3. Printable 2011 tax forms 75% to get $750. Printable 2011 tax forms For next year, your depreciation will be $1,443. Printable 2011 tax forms 80 ($20,000 × 7. Printable 2011 tax forms 219%). Printable 2011 tax forms Table 7-2. Printable 2011 tax forms 150% Declining Balance Method (Half-Year Convention) Year 3-Year 5-Year 7-Year 20-Year 1 25. Printable 2011 tax forms 0 % 15. Printable 2011 tax forms 00 % 10. Printable 2011 tax forms 71 % 3. Printable 2011 tax forms 750 % 2 37. Printable 2011 tax forms 5   25. Printable 2011 tax forms 50   19. Printable 2011 tax forms 13   7. Printable 2011 tax forms 219   3 25. Printable 2011 tax forms 0   17. Printable 2011 tax forms 85   15. Printable 2011 tax forms 03   6. Printable 2011 tax forms 677   4 12. Printable 2011 tax forms 5   16. Printable 2011 tax forms 66   12. Printable 2011 tax forms 25   6. Printable 2011 tax forms 177   5     16. Printable 2011 tax forms 66   12. Printable 2011 tax forms 25   5. Printable 2011 tax forms 713   6     8. Printable 2011 tax forms 33   12. Printable 2011 tax forms 25   5. Printable 2011 tax forms 285   7         12. Printable 2011 tax forms 25   4. Printable 2011 tax forms 888   8         6. Printable 2011 tax forms 13   4. Printable 2011 tax forms 522   Figuring depreciation using the straight line method and half-year convention. Printable 2011 tax forms   The following table has the straight line percentages for 3-, 5-, 7-, and 20-year property using the half-year convention. Printable 2011 tax forms The table covers only the first 8 years for 20-year property. Printable 2011 tax forms See Appendix A in Publication 946 for complete MACRS tables, including tables for the mid-quarter and mid-month convention. Printable 2011 tax forms Table 7-3. Printable 2011 tax forms Straight Line Method (Half-Year Convention) Year 3-Year 5-Year 7-Year 20-Year 1 16. Printable 2011 tax forms 67 % 10 % 7. Printable 2011 tax forms 14 % 2. Printable 2011 tax forms 5 % 2 33. Printable 2011 tax forms 33   20   14. Printable 2011 tax forms 29   5. Printable 2011 tax forms 0   3 33. Printable 2011 tax forms 33   20   14. Printable 2011 tax forms 29   5. Printable 2011 tax forms 0   4 16. Printable 2011 tax forms 67   20   14. Printable 2011 tax forms 28   5. Printable 2011 tax forms 0   5     20   14. Printable 2011 tax forms 29   5. Printable 2011 tax forms 0   6     10   14. Printable 2011 tax forms 28   5. Printable 2011 tax forms 0   7         14. Printable 2011 tax forms 29   5. Printable 2011 tax forms 0   8         7. Printable 2011 tax forms 14   5. Printable 2011 tax forms 0