Filing Your Taxes Online is Fast, Easy and Secure.
Start now and receive your tax refund in as little as 7 days.

1. Get Answers

Your online questions are customized to your unique tax situation.

2. Maximize your Refund

Find tax credits for everything from school tuition to buying a hybri

3. E-File for FREE

E-file free with direct deposit to get your refund in as few as 7 days.

Filing your taxes with paper mail can be difficult and it could take weeks for your refund to arrive. IRS e-file is easy, fast and secure. There is no paperwork going to the IRS so tax refunds can be processed in as little as 7 days with direct deposit. As you prepare your taxes online, you can see your tax refund in real time.

FREE audit support and representation from an enrolled agent – NEW and only from H&R Block

Www Handrblock Com

Iowa 1040x1040x TaxIrs FormsFile Taxes FreeE File 2012 ReturnsFree Prior Year Tax Filing FreeHow To File A Amended Tax ReturnH&r Block Free State File Coupon2007 TaxTaxact 2007Free Federal Tax FilingIrs2012 Taxes FreeHow To Do An Amended Return1040ez Form And InstructionsStandard Deduction For Form 1040How To File Tax ExtentionFiling Taxes As UnemployedEfile TaxesHr Block Free FileFree Online Federal And State Tax Filing1040x 2011 Form2005 Tax Return OnlineHow To Make A Tax Amendment1040ez Electronic Filing2010 1040 EzFree H And R Block Online1040ezform1040nr Ez Download2012 Form 1040ezForm4868File 1040x ElectronicallyState Tax Form 2013Amended Return 1040xTax Software FreeFile 2008 Taxes Online1040ezBack Taxes HelpTurbo Tax FilingWww Handrblock Com

Www Handrblock Com

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

Caregivers' Resources

Find a nursing home, assisted living, or hospice; check your eligibility for benefits; get resources for long-distance caregiving; review legal issues; and find support for caregivers.

The Www Handrblock Com

Www handrblock com Car Expenses Table of Contents Introduction Depreciation of CarSpecial Depreciation Allowance Depreciation Limit Amended Return Election Not To Claim Special Allowance If you purchased a car after September 10, 2001, for use in your business (or as an employee) and figure your deductible expenses using the actual car expense method, new law contains provisions that may affect your depreciation deduction for that car. Www handrblock com Publication 463, Travel, Entertainment, Gift, and Car Expenses, contains information on figuring depreciation on your car. Www handrblock com However, Publication 463 does not contain the new provisions because it was printed before the law was enacted. Www handrblock com The new provisions are in the Supplement to Publication 463, which is reprinted below. Www handrblock com Supplement to Publication 463 Travel, Entertainment, Gift, and Car Expenses   Introduction This supplemental publication is for taxpayers who purchased a car for business purposes after September 10, 2001, and figure their deductible expenses, including a deduction for depreciation, using the actual car expense method. Www handrblock com After Publication 463 was printed, the Job Creation and Worker Assistance Act of 2002 was signed into law by the President. Www handrblock com Certain provisions of this new law may reduce your taxes for 2001. Www handrblock com The new law contains the following provisions. Www handrblock com A new depreciation deduction, the special depreciation allowance. Www handrblock com An increase in the limit on depreciation for any car for which you claim the new special depreciation allowance. Www handrblock com If you have already filed your 2001 return, you may wish to file an amended return to claim any of these benefits. Www handrblock com See Amended Return, later. Www handrblock com Depreciation of Car If you used the actual car expense method to figure your deduction for a car you own and use in your business (or as an employee), you generally can claim a depreciation deduction. Www handrblock com However, there is a limit on the depreciation deduction you can take for your car each year. Www handrblock com See Depreciation Limit later. Www handrblock com Special Depreciation Allowance The new law allows you to claim a special depreciation allowance. Www handrblock com This special allowance is a deduction equal to 30% of the depreciable basis of qualified property. Www handrblock com You figure the amount of the special depreciation allowance after any section 179 deduction you choose to claim, but before figuring your regular depreciation deduction under the Modified Accelerated Cost Recovery System (MACRS). Www handrblock com See Depreciation Deduction under Actual Car Expenses in chapter 4 of Publication 463 for information about MACRS. Www handrblock com You can claim the special depreciation allowance only for the year the qualified property is placed in service. Www handrblock com Qualified property. Www handrblock com   Qualified property includes a car (any four-wheeled vehicle, including a truck or van not more than 6,000 pounds, that is made primarily for use on public streets, roads, and highways) that meets all of the following requirements. Www handrblock com You bought it new. Www handrblock com You bought it after September 10, 2001. Www handrblock com (But a car is not qualified property if a binding written contract for you to buy the car was in effect before September 11, 2001. Www handrblock com ) You began using it for business after September 10, 2001, and used it more than 50% in a qualified business use. Www handrblock com Example. Www handrblock com Bob bought a new car on October 15, 2001, for $20,000 and placed it in service immediately, using it 75% for business. Www handrblock com Bob's car is qualified property. Www handrblock com Bob chooses not to take a section 179 deduction for the car. Www handrblock com He does claim the new special depreciation allowance. Www handrblock com Bob first must figure the car's depreciable basis, which is $15,000 ($20,000 × . Www handrblock com 75). Www handrblock com He then figures the special depreciation allowance of $4,500 ($15,000 × . Www handrblock com 30). Www handrblock com The remaining depreciable basis of $10,500 ($15,000 - $4,500) is depreciated using MACRS (200% declining balance method, half-year convention) and results in a deduction of $2,100 ($10,500 × . Www handrblock com 20), for a total depreciation deduction for 2001 of $6,600 ($4,500 + $2,100). Www handrblock com However, Bob's depreciation deduction is limited to $5,745 ($7,660 × . Www handrblock com 75), as discussed next. Www handrblock com Depreciation Limit The limit on your depreciation deduction for 2001 is increased to $7,660 for a car that is qualified property (defined above) and for which you claim the special depreciation allowance. Www handrblock com The limit is increased to $23,080 if the car is an electric car. Www handrblock com The section 179 deduction is treated as depreciation for purposes of this limit. Www handrblock com If you use a car less than 100% in your business or work, the limit is $7,660 (or $23,080 for an electric car) multiplied by the percentage of business and investment use during the year. Www handrblock com For cars that do not qualify for (or for which you choose not to claim) the special depreciation allowance, the limit remains $3,060 ($9,280 for electric cars). Www handrblock com Amended Return If you filed your 2001 calendar year return before June 1, 2002, and did not claim the new special depreciation allowance for a qualified car, you can claim it by filing an amended return on Form 1040X, Amended U. Www handrblock com S. Www handrblock com Individual Income Tax Return, by April 15, 2003. Www handrblock com At the top of the Form 1040X, print “Filed pursuant to Revenue Procedure 2002–33. Www handrblock com ” If you are an employee, attach Form 2106, Employee Business Expenses (revised March 2002). Www handrblock com If you are self-employed, attach Form 4562, Depreciation and Amortization (revised March 2002). Www handrblock com Or, you can claim the special depreciation allowance by filing Form 3115, Application for Change in Accounting Method, with your 2002 return. Www handrblock com For details, see Revenue Procedure 2002–33. Www handrblock com (But, filing Form 1040X for 2001 enables you to claim the special allowance earlier than attaching Form 3115 to your 2002 return. Www handrblock com ) You cannot claim the special depreciation allowance on an amended return (or by using Form 3115) if you made, or are treated as having made, the election not to claim it described later. Www handrblock com Example. Www handrblock com The facts are the same as in the previous example except that Bob filed his original 2001 income tax return on April 15, 2002, and claimed a $3,000 ($20,000 x . Www handrblock com 75 x . Www handrblock com 20) depreciation deduction for his new car using MACRS. Www handrblock com Bob now wishes to claim the special depreciation allowance for his new car on an amended 2001 return. Www handrblock com Bob, who is an employee, files Form 1040X, by April 15, 2003, with an updated Form 2106 (revised March 2002) attached, increasing his total depreciation deduction to $5,745, as figured in the earlier example. Www handrblock com Bob's new filled-in Form 2106 is shown later. Www handrblock com Election Not To Claim Special Allowance You can elect not to claim the special depreciation allowance for a car by making a statement attached to, or written on, your return indicating that you are electing not to claim the special depreciation allowance for 5-year property. Www handrblock com As a general rule, you must make this election by the due date (including extensions) of your return. Www handrblock com You can have an automatic extension of 6 months from the due date of your return (excluding extensions) to make the election with an amended return. Www handrblock com To get this extension, you must have filed your original return by the due date (including extensions). Www handrblock com At the top of the statement, print “Filed pursuant to section 301. Www handrblock com 9100–2. Www handrblock com ” If you elect not to claim the special depreciation allowance for a car, you cannot claim it for any other 5-year property placed in service during the same year. Www handrblock com Unless you elect (or are treated as electing) not to claim the special depreciation allowance, you must reduce the car's adjusted basis by the amount of the allowance, even if the allowance was not claimed. Www handrblock com Deemed election for return filed before June 1, 2002. Www handrblock com   If you did not make the election not to claim the special depreciation allowance in the time and manner described above, you will still be treated as electing not to claim it if all of the following apply. Www handrblock com You filed your 2001 return before June 1, 2002. Www handrblock com You claimed depreciation on your return but did not claim the special depreciation allowance. Www handrblock com You did not file an amended 2001 return by April 15, 2003, or a Form 3115 with your 2002 return, to claim the special depreciation allowance. Www handrblock com Form 2106, Page 1, for Bob Smith Form 2106, Page 2, for Bob Smith Prev  Up  Next   Home   More Online Publications