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Vita Tax Preparation

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Vita Tax Preparation

Vita tax preparation Other Methods of Depreciation Table of Contents Topics - This chapter discusses: Useful Items - You may want to see: How To Figure the DeductionBasis Useful Life Salvage Value Methods To UseStraight Line Method Declining Balance Method Income Forecast Method How To Change Methods DispositionsSale or exchange. Vita tax preparation Property not disposed of or abandoned. Vita tax preparation Special rule for normal retirements from item accounts. Vita tax preparation Abandoned property. Vita tax preparation Single item accounts. Vita tax preparation Multiple property account. Vita tax preparation Topics - This chapter discusses: How to figure the deduction Methods to use How to change methods Dispositions Useful Items - You may want to see: Publication 544 Sales and Other Dispositions of Assets 551 Basis of Assets 583 Starting a Business and Keeping Records 946 How To Depreciate Property Form (and Instructions) 3115 Application for Change in Accounting Method 4562 Depreciation and Amortization Schedule C (Form 1040) Profit or Loss From Business If your property is being depreciated under ACRS, you must continue to use rules for depreciation that applied when you placed the property in service. Vita tax preparation If your property qualified for MACRS, you must depreciate it under MACRS. Vita tax preparation See Publication 946. Vita tax preparation However, you cannot use MACRS for certain property because of special rules that exclude it from MACRS. Vita tax preparation Also, you can elect to exclude certain property from being depreciated under MACRS. Vita tax preparation Property that you cannot depreciate using MACRS includes: Intangible property, Property you can elect to exclude from MACRS that you properly depreciate under a method that is not based on a term of years, Certain public utility property, Any motion picture film or video tape, Any sound recording, and Certain real and personal property placed in service before 1987. Vita tax preparation Intangible property. Vita tax preparation   You cannot depreciate intangible property under ACRS or MACRS. Vita tax preparation You depreciate intangible property using any other reasonable method, usually, the straight line method. Vita tax preparation Note. Vita tax preparation The cost of certain intangible property that you acquire after August 10, 1993, must be amortized over a 15-year period. Vita tax preparation For more information, see chapter 12 of Publication 535. Vita tax preparation Public utility property. Vita tax preparation   The law excludes from MACRS any public utility property for which the taxpayer does not use a normalization method of accounting. Vita tax preparation This type of property is subject to depreciation under a special rule. Vita tax preparation Videocassettes. Vita tax preparation   If you are in the videocassette rental business, you can depreciate those videocassettes purchased for rental. Vita tax preparation You can depreciate the cost less salvage value of those videocassettes that have a useful life over one year using either: The straight line method, or The income forecast method. Vita tax preparation The straight line method, salvage value, and useful life are discussed later under Methods To Use. Vita tax preparation You can deduct in the year of purchase as a business expense the cost of any cassette that has a useful life of one year or less. Vita tax preparation How To Figure the Deduction Two other reasonable methods can be used to figure your deduction for property not covered under ACRS or MACRS. Vita tax preparation These methods are straight line and declining balance. Vita tax preparation To figure depreciation using these methods, you must generally determine three things about the property you intend to depreciate. Vita tax preparation They are: The basis, The useful life, and The estimated salvage value at the end of its useful life. Vita tax preparation The amount of the deduction in any year also depends on which method of depreciation you choose. Vita tax preparation Basis To deduct the proper amount of depreciation each year, first determine your basis in the property you intend to depreciate. Vita tax preparation The basis used for figuring depreciation is the same as the basis that would be used for figuring the gain on a sale. Vita tax preparation Your original basis is usually the purchase price. Vita tax preparation However, if you acquire property in some other way, such as inheriting it, getting it as a gift, or building it yourself, you have to figure your original basis in a different way. Vita tax preparation Adjusted basis. Vita tax preparation   Events will often change the basis of property. Vita tax preparation When this occurs, the changed basis is called the adjusted basis. Vita tax preparation Some events, such as improvements you make, increase basis. Vita tax preparation Events such as deducting casualty losses and depreciation decrease basis. Vita tax preparation If basis is adjusted, the depreciation deduction may also have to be changed, depending on the reason for the adjustment and the method of depreciation you are using. Vita tax preparation   Publication 551 explains how to figure basis for property acquired in different ways. Vita tax preparation It also discusses what items increase and decrease basis, how to figure adjusted basis, and how to allocate cost if you buy several pieces of property at one time. Vita tax preparation Useful Life The useful life of a piece of property is an estimate of how long you can expect to use it in your trade or business, or to produce income. Vita tax preparation It is the length of time over which you will make yearly depreciation deductions of your basis in the property. Vita tax preparation It is how long it will continue to be useful to you, not how long the property will last. Vita tax preparation Many things affect the useful life of property, such as: Frequency of use, Age when acquired, Your repair policy, and Environmental conditions. Vita tax preparation The useful life can also be affected by technological improvements, progress in the arts, reasonably foreseeable economic changes, shifting of business centers, prohibitory laws, and other causes. Vita tax preparation Consider all these factors before you arrive at a useful life for your property. Vita tax preparation The useful life of the same type of property varies from user to user. Vita tax preparation When you determine the useful life of your property, keep in mind your own experience with similar property. Vita tax preparation You can use the general experience of the industry you are in until you are able to determine a useful life of your property from your own experience. Vita tax preparation Change in useful life. Vita tax preparation   You base your estimate of useful life on certain facts. Vita tax preparation If these facts change significantly, you can adjust your estimate of the remaining useful life. Vita tax preparation However, you redetermine the estimated useful life only when the change is substantial and there is a clear reason for making the change. Vita tax preparation Salvage Value It is important for you to accurately determine the correct salvage value of the property you want to depreciate. Vita tax preparation You generally cannot depreciate property below a reasonable salvage value. Vita tax preparation Determining salvage value. Vita tax preparation   Salvage value is the estimated value of property at the end of its useful life. Vita tax preparation It is what you expect to get for the property if you sell it after you can no longer use it productively. Vita tax preparation You must estimate the salvage value of a piece of property when you first acquire it. Vita tax preparation   Salvage value is affected both by how you use the property and how long you use it. Vita tax preparation If it is your policy to dispose of property that is still in good operating condition, the salvage value can be relatively large. Vita tax preparation However, if your policy is to use property until it is no longer usable, its salvage value can be its junk value. Vita tax preparation Changing salvage value. Vita tax preparation   Once you determine the salvage value for property, you should not change it merely because prices have changed. Vita tax preparation However, if you redetermine the useful life of property, as discussed earlier under Change in useful life, you can also redetermine the salvage value. Vita tax preparation When you redetermine the salvage value, take into account the facts that exist at the time. Vita tax preparation Net salvage. Vita tax preparation   Net salvage is the salvage value of property minus what it costs to remove it when you dispose of it. Vita tax preparation You can choose either salvage value or net salvage when you figure depreciation. Vita tax preparation You must consistently use the one you choose and the treatment of the costs of removal must be consistent with the practice adopted. Vita tax preparation However, if the cost to remove the property is more than the estimated salvage value, then net salvage is zero. Vita tax preparation Your salvage value can never be less than zero. Vita tax preparation Ten percent rule. Vita tax preparation   If you acquire personal property that has a useful life of 3 years or more, you can use an amount for salvage value that is less than your actual estimate. Vita tax preparation You can subtract from your estimate of salvage value an amount equal to 10% of your basis in the property. Vita tax preparation If salvage value is less than 10% of basis, you can ignore salvage value when you figure depreciation. Vita tax preparation Methods To Use Two methods of depreciation are the straight line and declining balance methods. Vita tax preparation If ACRS or MACRS does not apply, you can use one of these methods. Vita tax preparation The straight line and declining balance methods discussed in this section are not figured in the same way as straight line or declining balance methods under MACRS. Vita tax preparation Straight Line Method Before 1981, you could use any reasonable method for every kind of depreciable property. Vita tax preparation One of these methods was the straight line method. Vita tax preparation This method was also used for intangible property. Vita tax preparation It lets you deduct the same amount of depreciation each year. Vita tax preparation To figure your deduction, determine the adjusted basis of your property, its salvage value, and its estimated useful life. Vita tax preparation Subtract the salvage value, if any, from the adjusted basis. Vita tax preparation The balance is the total amount of depreciation you can take over the useful life of the property. Vita tax preparation Divide the balance by the number of years remaining in the useful life. Vita tax preparation This gives you the amount of your yearly depreciation deduction. Vita tax preparation Unless there is a big change in adjusted basis, or useful life, this amount will stay the same throughout the time you depreciate the property. Vita tax preparation If, in the first year, you use the property for less than a full year, you must prorate your depreciation deduction for the number of months in use. Vita tax preparation Example. Vita tax preparation In April 1994, Frank bought a franchise for $5,600. Vita tax preparation It expires in 10 years. Vita tax preparation This property is intangible property that cannot be depreciated under MACRS. Vita tax preparation Frank depreciates the franchise under the straight line method, using a 10-year useful life and no salvage value. Vita tax preparation He takes the $5,600 basis and divides that amount by 10 years ($5,600 ÷ 10 = $560, a full year's use). Vita tax preparation He must prorate the $560 for his 9 months of use in 1994. Vita tax preparation This gives him a deduction of $420 ($560 ÷ 9/12). Vita tax preparation In 1995, Frank can deduct $560 for the full year. Vita tax preparation Declining Balance Method The declining balance method allows you to recover a larger amount of the cost of the property in the early years of your use of the property. Vita tax preparation The rate cannot be more than twice the straight line rate. Vita tax preparation Rate of depreciation. Vita tax preparation   Under this method, you must determine your declining balance rate of depreciation. Vita tax preparation The initial step is to: Divide the number 1 by the useful life of your property to get a straight line rate. Vita tax preparation (For example, if property has a useful life of 5 years, its normal straight line rate of depreciation is ⅕, or 20%. Vita tax preparation ) Multiply this straight line rate by a number that is more than 1 but not more than 2 to determine the declining balance rate. Vita tax preparation Unless there is a change in the useful life during the time you depreciate the property, the rate of depreciation generally will not change. Vita tax preparation Depreciation deductions. Vita tax preparation   After you determine the rate of depreciation, multiply the adjusted basis of the property by it. Vita tax preparation This gives you the amount of your deduction. Vita tax preparation For example, if your adjusted basis at the beginning of the first year is $10,000, and your declining balance rate is 20%, your depreciation deduction for the first year is $2,000 ($10,000 ÷ 20%). Vita tax preparation To figure your depreciation deduction in the second year, you must first adjust the basis for the amount of depreciation you deducted in the first year. Vita tax preparation Subtract the previous year's depreciation from your basis ($10,000 - $2,000 = $8,000). Vita tax preparation Multiply this amount by the rate of depreciation ($8,000 ÷ 20% = $1,600). Vita tax preparation Your depreciation deduction for the second year is $1,600. Vita tax preparation   As you can see from this example, your adjusted basis in the property gets smaller each year. Vita tax preparation Also, under this method, deductions are larger in the earlier years and smaller in the later years. Vita tax preparation You can make a change to the straight line method without consent. Vita tax preparation Salvage value. Vita tax preparation   Do not subtract salvage value when you figure your yearly depreciation deductions under the declining balance method. Vita tax preparation However, you cannot depreciate the property below its reasonable salvage value. Vita tax preparation Determine salvage value using the rules discussed earlier, including the special 10% rule. Vita tax preparation Example. Vita tax preparation If your adjusted basis has been decreased to $1,000 and the rate of depreciation is 20%, your depreciation deduction should be $200. Vita tax preparation But if your estimate of salvage value was $900, you can only deduct $100. Vita tax preparation This is because $100 is the amount that would lower your adjusted basis to equal salvage value. Vita tax preparation Income Forecast Method The income forecast method requires income projections for each videocassette or group of videocassettes. Vita tax preparation You can group the videocassettes by title for making this projection. Vita tax preparation You determine the depreciation by applying a fraction to the cost less salvage value of the cassette. Vita tax preparation The numerator is the income from the videocassette for the tax year and the denominator is the total projected income for the cassette. Vita tax preparation For more information on the income forecast method, see Revenue Ruling 60-358 in Cumulative Bulletin 1960, Volume 2, on page 68. Vita tax preparation How To Change Methods In some cases, you may change your method of depreciation for property depreciated under a reasonable method. Vita tax preparation If you change your method of depreciation, it is generally a change in your method of accounting. Vita tax preparation You must get IRS consent before making the change. Vita tax preparation However, you do not need permission for certain changes in your method of depreciation. Vita tax preparation The rules discussed in this section do not apply to property depreciated under ACRS or MACRS. Vita tax preparation For information on ACRS elections,see Revocation of election, in chapter 1 under Alternate ACRS Method. Vita tax preparation Change to the straight line method. Vita tax preparation   You can change from the declining balance method to the straight line method at any time during the useful life of your property without IRS consent. Vita tax preparation However, if you have a written agreement with the IRS that prohibits a change, you must first get IRS permission. Vita tax preparation When the change is made, figure depreciation based on your adjusted basis in the property at that time. Vita tax preparation Your adjusted basis takes into account all previous depreciation deductions. Vita tax preparation Use the estimated remaining useful life of your property at the time of change and its estimated salvage value. Vita tax preparation   You can change from the declining balance method to straight line only on the original tax return for the year you first use the straight line method. Vita tax preparation You cannot make the change on an amended return filed after the due date of the original return (including extensions). Vita tax preparation   When you make the change, attach a statement to your tax return showing: When you acquired the property, Its original cost or other original basis, The total amount claimed for depreciation and other allowances since you acquired it, Its salvage value and remaining useful life, and A description of the property and its use. Vita tax preparation   After you change to straight line, you cannot change back to the declining balance method or to any other method for a period of 10 years without written permission from the IRS. Vita tax preparation Changes that require permission. Vita tax preparation   For most other changes in method of depreciation, you must get permission from the IRS. Vita tax preparation To request a change in method of depreciation, file Form 3115. Vita tax preparation File the application within the first 180 days of the tax year the change is to become effective. Vita tax preparation In most cases, there is a user fee that must accompany Form 3115. Vita tax preparation See the instructions for Form 3115 to determine if a fee is required. Vita tax preparation Changes granted automatically. Vita tax preparation   The IRS automatically approves certain changes of a method of depreciation. Vita tax preparation But, you must file Form 3115 for these automatic changes. Vita tax preparation   However, IRS can deny permission if Form 3115 is not filed on time. Vita tax preparation For more information on automatic changes, see Revenue Procedure 74-11, 1974-1 C. Vita tax preparation B. Vita tax preparation 420. Vita tax preparation Changes for which approval is not automatic. Vita tax preparation   The automatic change procedures do not apply to: Property or an account where you made a change in depreciation within the last 10 tax years (unless the change was made under the Class Life System), Class Life Asset Depreciation Range System, and Public utility property. Vita tax preparation   You must request and receive permission for these changes. Vita tax preparation To make the request, file Form 3115 during the first 180 days of the tax year for which you want the change to be effective. Vita tax preparation Change from an improper method. Vita tax preparation   If the IRS disallows the method you are using, you do not need permission to change to a proper method. Vita tax preparation You can adopt the straight line method, or any other method that would have been permitted if you had used it from the beginning. Vita tax preparation If you file your tax return using an improper method, but later file an amended return, you can use a proper method on the amended return without getting IRS permission. Vita tax preparation However, you must file the amended return before the filing date for the next tax year. Vita tax preparation Dispositions Retirement is the permanent withdrawal of depreciable property from use in your trade or business or for the production of income. Vita tax preparation You can do this by selling, exchanging, or abandoning the item of property. Vita tax preparation You can also withdraw it from use without disposing of it. Vita tax preparation For example, you could place it in a supplies or scrap account. Vita tax preparation Retirements can be either normal or abnormal depending on all facts and circumstances. Vita tax preparation The rules discussed next do not apply to MACRS and ACRS property. Vita tax preparation Normal retirement. Vita tax preparation   A normal retirement is a permanent withdrawal of depreciable property from use if the following apply: The retirement is made within the useful life you estimated originally, and The property has reached a condition at which you customarily retire or would retire similar property from use. Vita tax preparation A retirement is generally considered normal unless you can show that you retired the property because of a reason you did not consider when you originally estimated the useful life of the property. Vita tax preparation Abnormal retirement. Vita tax preparation   A retirement can be abnormal if you withdraw the property early or under other circumstances. Vita tax preparation For example, if the property is damaged by a fire or suddenly becomes obsolete and is now useless. Vita tax preparation Gain or loss on retirement. Vita tax preparation   There are special rules for figuring the gain or loss on retirement of property. Vita tax preparation The gain or loss will depend on several factors. Vita tax preparation These include the type of withdrawal, if the withdrawal was from a single property or multiple property account, and if the retirement was normal or abnormal. Vita tax preparation A single property account contains only one item of property. Vita tax preparation A multiple property account is one in which several items have been combined with a single rate of depreciation assigned to the entire account. Vita tax preparation Sale or exchange. Vita tax preparation   If property is retired by sale or exchange, you figure gain or loss by the usual rules that apply to sales or other dispositions of property. Vita tax preparation See Publication 544. Vita tax preparation Property not disposed of or abandoned. Vita tax preparation   If property is retired permanently, but not disposed of or physically abandoned, you do not recognize gain. Vita tax preparation You are allowed a loss in such a case, but only if the retirement is: An abnormal retirement, A normal retirement from a single property account in which you determined the life of each item of property separately, or A normal retirement from a multiple property account in which the depreciation rate is based on the maximum expected life of the longest lived item of property and the loss occurs before the expiration of the full useful life. Vita tax preparation However, you are not allowed a loss if the depreciation rate is based on the average useful life of the items of property in the account. Vita tax preparation   To figure your loss, subtract the estimated salvage or fair market value of the property at the date of retirement, whichever is more, from its adjusted basis. Vita tax preparation Special rule for normal retirements from item accounts. Vita tax preparation   You can generally deduct losses upon retirement of a few depreciable items of property with similar useful lives, if: You account for each one in a separate account, and You use the average useful life to figure depreciation. Vita tax preparation However, you cannot deduct losses if you use the average useful life to figure depreciation and they have a wide range of useful lives. Vita tax preparation   If you have a large number of depreciable property items and use average useful lives to figure depreciation, you cannot deduct the losses upon normal retirements from these accounts. Vita tax preparation Abandoned property. Vita tax preparation   If you physically abandon property, you can deduct as a loss the adjusted basis of the property at the time of its abandonment. Vita tax preparation However, your intent must be to discard the property so that you will not use it again or retrieve it for sale, exchange, or other disposition. Vita tax preparation Basis of property retired. Vita tax preparation   The basis for figuring gain or loss on the retirement of property is its adjusted basis at the time of retirement, as determined in the following discussions. Vita tax preparation Single item accounts. Vita tax preparation   If an item of property is accounted for in a single item account, the adjusted basis is the basis you would use to figure gain or loss for a sale or exchange of the property. Vita tax preparation This is generally the cost or other basis of the item of property less depreciation. Vita tax preparation See Publication 551. Vita tax preparation Multiple property account. Vita tax preparation   For a normal retirement from a multiple property account, if you figured depreciation using the average expected useful life, the adjusted basis is the salvage value estimated for the item of property when it was originally acquired. Vita tax preparation If you figured depreciation using the maximum expected useful life of the longest lived item of property in the account, you must use the depreciation method used for the multiple property account and a rate based on the maximum expected useful life of the item of property retired. Vita tax preparation   You make the adjustment for depreciation for an abnormal retirement from a multiple property account at the rate that would be proper if the item of property was depreciated in a single property account. Vita tax preparation The method of depreciation used for the multiple property account is used. Vita tax preparation You base the rate on either the average expected useful life or the maximum expected useful life of the retired item of property, depending on the method used to determine the depreciation rate for the multiple property account. Vita tax preparation Prev  Up  Next   Home   More Online Publications
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Understanding Your CP30A Notice

We reduced or removed the penalty for underpayment of estimated tax reported on your tax return.


What you need to do

  • Review the account information in your notice.
  • If there are discrepancies between our records and your records, and it appears that we removed or reduced your penalty in error, please return the refund with your explanation.

Answers to Common Questions

Why did you reduce or remove the penalty?
We reduced or eliminated the penalty because, according to our calculation, the penalty reported on your return is greater than the penalty actually due. Our calculation is based on information in our records at the time your return was processed. If your address is within a geographical area that was declared a federal disaster area, the reduction may be the result of an automatic waiver we applied.

What should I do if I disagree with the correction?
Call the toll free number listed in the top right corner of your notice. Explain to the assistor why you disagree with our correction. If we agree with your explanation, the assistor will tell you what to do next.

The notice says that I will receive a refund, but I haven't received it yet. When will I receive the refund?
Before we can issue a refund, we are required to collect (offset) any other taxes you may owe. Additionally, your refund may be offset to pay child support or state taxes you owe, or to pay any other debts you legally owe that we are required to collect. We also might not mail your refund if you have not filed all of the returns you are required to file. To check the status of your refund you may call the toll-free number listed in the top right corner of your notice.

Page Last Reviewed or Updated: 03-Mar-2014

How to get help

  • Call the 1-800 number listed on the top right corner of your notice.
  • Authorize someone (e.g., accountant) to contact the IRS on your behalf using Form 2848.
  • See if you qualify for help from a Low Income Taxpayer Clinic.
     

The Vita Tax Preparation

Vita tax preparation IRAs and Other Retirement Plans Table of Contents 2002 ChangesSimplified Employee Pensions (SEPs) 403(b) Plans Later ChangeDeemed IRAs 2002 Changes Simplified Employee Pensions (SEPs) Contribution limit increased. Vita tax preparation   For plan years beginning after December 31, 2001, the annual limit on the amount of employer contributions to a SEP increases to the lesser of the following amounts. Vita tax preparation 25% of an eligible employee's compensation. Vita tax preparation $40,000 (subject to cost-of-living adjustments after 2002). Vita tax preparation Deduction limit. Vita tax preparation   For years beginning after 2001, the following changes apply to the SEP deduction limit. Vita tax preparation Elective deferrals (SARSEPs). Vita tax preparation   Elective deferrals under a SARSEP are not subject to the deduction limit that applies to employer contributions. Vita tax preparation Also, elective deferrals are not taken into account when figuring the amount you can deduct for employer contributions that are not elective deferrals. Vita tax preparation Definition of compensation. Vita tax preparation    Compensation for figuring the deduction for employer contributions includes elective deferrals under a SARSEP. Vita tax preparation More information. Vita tax preparation   For more information about SEPs, see Publication 560, Retirement Plans for Small Business. Vita tax preparation 403(b) Plans Figuring catch-up contributions. Vita tax preparation   When figuring allowable catch-up contributions, combine all contributions made by your employer on your behalf to the following plans. Vita tax preparation Qualified retirement plans. Vita tax preparation 403(b) plans. Vita tax preparation Simplified employee pensions (SEP). Vita tax preparation SIMPLE plans. Vita tax preparation   The total amount of the catch-up contributions to all plans maintained by your employer cannot exceed the annual limit. Vita tax preparation For 2002, the limit is $1,000. Vita tax preparation Rollovers to and from 403(b) plans. Vita tax preparation   If a distribution includes both pre-tax contributions and after-tax contributions, the portion of the distribution that is rolled over is treated as consisting first of pre-tax amounts (contributions and earnings that would be includible in income if no rollover occurred). Vita tax preparation This means that if you roll over an amount that is at least as much as the pre-tax portion of the distribution, you do not have to include any of the distribution in income. Vita tax preparation Years of service for church employees and ministers. Vita tax preparation   If you are a minister or church employee, treat all of your years of service as an employee of a church or a convention or association of churches as years of service with one employer. Vita tax preparation Prior law required church employees and ministers to figure years of service separately for each employer. Vita tax preparation   As a minister or church employee, all contributions made to 403(b) plans on your behalf, as an employee of a church or a convention or association of churches, are considered made by one employer. Vita tax preparation Foreign missionaries. Vita tax preparation   If you are a foreign missionary, contributions to your 403(b) account will not be treated as exceeding the limit on annual additions if the contributions are not more than the greater of: $3,000, or Your includible compensation. Vita tax preparation More information. Vita tax preparation   For more information about 403(b) plans, see Publication 571, Tax-Sheltered Annuity Plans (403(b) Plans). Vita tax preparation Later Change Deemed IRAs For plan years beginning after 2002, a qualified employer plan can provide for voluntary employee contributions to a separate account or annuity that is deemed to be an IRA. Vita tax preparation For this purpose, a qualified employer plan includes a deferred compensation plan (section 457(b) plan) maintained by a state, a political subdivision of a state, or an agency or instrumentality of a state or political subdivision of a state. Vita tax preparation The term qualified employer plan also includes: A qualified pension, profit-sharing, or stock bonus plan (section 401(a) plan), A qualified employee annuity plan (section 403(a) plan), and A tax-sheltered annuity plan (section 403(b) plan). Vita tax preparation More information about IRAs can be found in Publication 590, Individual Retirement Arrangements (IRAs). Vita tax preparation Prev  Up  Next   Home   More Online Publications