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Www Irs Gov Formspubs

Www irs gov formspubs Index A Alien Resident, Resident alien. Www irs gov formspubs American Institute in Taiwan, U. Www irs gov formspubs S. Www irs gov formspubs employees of, American Institute in Taiwan. Www irs gov formspubs American Samoa, possession exclusion, American Samoa, Guam, and the Commonwealth of the Northern Mariana Islands Apprentices, treaty benefits for, Common Benefits Assistance (see Tax help) B Binational social security agreements, Bilateral Social Security (Totalization) Agreements Blocked income, Blocked Income Bona fide residence test Defined, Bona Fide Residence Test First year, Bona fide resident for part of a year. Www irs gov formspubs Last year, Bona fide resident for part of a year. Www irs gov formspubs Meeting the requirements, Publication 54 - Additional Material Qualifying for, Bona fide residence. Www irs gov formspubs , Reassignment. Www irs gov formspubs Treaty provisions, Special agreements and treaties. Www irs gov formspubs Voting by absentee ballot, Effect of voting by absentee ballot. Www irs gov formspubs Waiver of time requirements, Waiver of Time Requirements, U. Www irs gov formspubs S. Www irs gov formspubs Travel Restrictions C Camps, foreign, Foreign camps. Www irs gov formspubs Carryover of housing deduction, Carryover. Www irs gov formspubs Change of address, Reminders Choosing the exclusion, Choosing the Exclusion, When You Can Choose the Exclusion Clergy, self-employment tax on, Members of the Clergy Community income, Community income. Www irs gov formspubs Competent authority assistance, Competent Authority Assistance Contributions To foreign charitable organizations, Contributions to Foreign Charitable Organizations To IRAs, Contributions to Individual Retirement Arrangements Conventions, income tax, Purpose of Tax Treaties Credit Earned income, Earned income credit. Www irs gov formspubs , Earned income credit. Www irs gov formspubs Foreign tax, Foreign tax credit. Www irs gov formspubs , Taxes of Foreign Countries and U. Www irs gov formspubs S. Www irs gov formspubs Possessions, Deduction for Other Foreign Taxes, Common Benefits Related to excluded income, Items Related to Excluded Income Currency Foreign, Foreign Currency D Deductions Contributions to foreign charitable organizations, Contributions to Foreign Charitable Organizations Foreign taxes, Taxes of Foreign Countries and U. Www irs gov formspubs S. Www irs gov formspubs Possessions, Deduction for Other Foreign Taxes, Common Benefits, Publication 54 - Additional Material Housing, foreign, Foreign Housing Deduction IRA contributions, Contributions to Individual Retirement Arrangements Moving expenses, Moving Expenses, Forms To File Related to excluded income, Items Related to Excluded Income Reporting, How To Report Deductions Dependents Exemption for, Exemptions, Publication 54 - Additional Material Individual taxpayer identification number (ITIN), Social security number. Www irs gov formspubs Social security number, Social security number. Www irs gov formspubs Deposit of foreign currency with disbursing officer, Deposit of foreign currency with disbursing officer. Www irs gov formspubs E Earned income Foreign, Foreign Earned Income, Foreign camps. Www irs gov formspubs , Publication 54 - Additional Material Source of, Source of Earned Income Types of, Earned and Unearned Income, Storage expense reimbursements. Www irs gov formspubs Earned income credit, Earned income credit. Www irs gov formspubs , Earned income credit. Www irs gov formspubs Employer-provided amounts, Employer-provided amounts. Www irs gov formspubs Estimated tax, Estimated Tax Exclusion Foreign earned income, Foreign Earned Income Exclusion, When You Can Choose the Exclusion Housing, Foreign Housing Exclusion, Choosing the exclusion. Www irs gov formspubs Meals and lodging, Exclusion of Meals and Lodging U. Www irs gov formspubs S. Www irs gov formspubs possessions, American Samoa, Guam, and the Commonwealth of the Northern Mariana Islands Exemptions Dependents, Exemptions, Publication 54 - Additional Material Spouse, Exemptions, Publication 54 - Additional Material Extensions Filing income tax return, Extensions, Return filed before test is met. Www irs gov formspubs Meeting bona fide residence or physical presence test, Extension of time to meet tests. Www irs gov formspubs F Fellowships, Scholarships and fellowships. Www irs gov formspubs Figuring estimated tax on nonconvertible foreign income, Figuring estimated tax on nonconvertible foreign currency. Www irs gov formspubs Figuring U. Www irs gov formspubs S. Www irs gov formspubs income tax, Figuring actual tax. Www irs gov formspubs Filing information Estimated tax, Estimated Tax Filing requirements, Filing Requirements Nonresident spouse treated as resident, Nonresident Alien Spouse Treated as a Resident, Foreign earned income exclusion. Www irs gov formspubs Filing requirements By filing status, Filing Requirements Foreign currency, Foreign Currency When to file and pay, When To File and Pay, Return filed before test is met. Www irs gov formspubs , Publication 54 - Additional Material Where to file, Where To File, Publication 54 - Additional Material Foreign Camps, Foreign camps. Www irs gov formspubs Country, defined, Foreign Country Currency, Foreign Currency Earned income, Foreign Earned Income, Foreign camps. Www irs gov formspubs , Publication 54 - Additional Material Household, second, Second foreign household. Www irs gov formspubs Foreign currency, deposit with disbursing officer, Deposit of foreign currency with disbursing officer. Www irs gov formspubs Foreign earned income Defined, Foreign Earned Income, More information. Www irs gov formspubs U. Www irs gov formspubs S. Www irs gov formspubs Government employees, U. Www irs gov formspubs S. Www irs gov formspubs Government Employees, More information. Www irs gov formspubs Foreign earned income exclusion Choosing, Choosing the Exclusion, When You Can Choose the Exclusion Defined, Foreign Earned Income Exclusion Earned income credit, Earned income credit. Www irs gov formspubs Foreign tax credit, Foreign tax credit or deduction. Www irs gov formspubs Income received after year earned, Paid in year following work. Www irs gov formspubs , Example. Www irs gov formspubs Limit, Limit on Excludable Amount, Physical presence test. Www irs gov formspubs , Publication 54 - Additional Material Maximum exclusion, Limit on Excludable Amount, Physical presence test. Www irs gov formspubs Part-year exclusion, Part-year exclusion. Www irs gov formspubs Physical presence test, maximum exclusion, Physical presence test. Www irs gov formspubs Requirements, Who Qualifies for the Exclusions and the Deduction?, Foreign camps. Www irs gov formspubs Revoking choice, Revoking the Exclusion Foreign housing exclusion Earned income credit, Earned income credit. Www irs gov formspubs Foreign tax credit, Foreign tax credit or deduction. Www irs gov formspubs Foreign housing exclusion/deduction Carryover of deduction, Carryover. Www irs gov formspubs Deduction, figuring, Foreign Housing Deduction Exclusion, figuring, Foreign Housing Exclusion, Choosing the exclusion. Www irs gov formspubs Housing amount, Housing Amount Housing expenses, Housing expenses. Www irs gov formspubs Married couples, Married Couples Requirements, Who Qualifies for the Exclusions and the Deduction?, Foreign camps. Www irs gov formspubs Second foreign household, Second foreign household. Www irs gov formspubs Foreign tax credit Earned income exclusion, Foreign tax credit or deduction. Www irs gov formspubs , Foreign tax credit or deduction. Www irs gov formspubs Foreign taxes Credit for, Foreign tax credit. Www irs gov formspubs , Taxes of Foreign Countries and U. Www irs gov formspubs S. Www irs gov formspubs Possessions, Deduction for Other Foreign Taxes, Common Benefits Deduction for, Taxes of Foreign Countries and U. Www irs gov formspubs S. Www irs gov formspubs Possessions, Deduction for Other Foreign Taxes, Common Benefits, Publication 54 - Additional Material Paid on excluded income, Foreign taxes paid on excluded income. Www irs gov formspubs Form 1040-ES, Estimated Tax 1040X, Return filed before test is met. Www irs gov formspubs , How To Make the Choice 1116, Credit for Foreign Income Taxes 2032, Foreign affiliate. Www irs gov formspubs 2350, How to get an extension. Www irs gov formspubs 2555, Choosing the Exclusion, Form 2555 and Form 2555-EZ, Form 2555 2555-EZ, Choosing the Exclusion, Form 2555 and Form 2555-EZ, Form 2555 3115, Blocked Income 3903, Forms To File 4361, Members of the Clergy 4563, American Samoa. Www irs gov formspubs 4868, Automatic 6-month extension. Www irs gov formspubs 673, Statement. Www irs gov formspubs 8689, Non-USVI resident with USVI income. Www irs gov formspubs 8822, Reminders W-4, Foreign tax credit. Www irs gov formspubs Free tax services, Free help with your tax return. Www irs gov formspubs Frequently asked questions (FAQs), Publication 54 - Additional Material Fulbright grant, Fulbright Grant, Publication 54 - Additional Material G General tax questions, Publication 54 - Additional Material Green card test, Resident alien. Www irs gov formspubs Guam Possession exclusion, American Samoa, Guam, and the Commonwealth of the Northern Mariana Islands Residents of, Resident of Guam. Www irs gov formspubs Where to file, Resident of Guam. Www irs gov formspubs H Help (see Tax help) Housing Amount, Housing Amount, Self-employed and employer-provided amounts. Www irs gov formspubs Deduction, Foreign Housing Exclusion and Deduction, Foreign Housing Deduction Exclusion, Foreign Housing Exclusion and Deduction, Choosing the exclusion. Www irs gov formspubs Expenses, Housing expenses. Www irs gov formspubs I Income Apprentices, treaty benefits for, Common Benefits Artist, Income of an artist. Www irs gov formspubs Blocked, Blocked Income Community, Community income. Www irs gov formspubs Corporation, Income from a corporation. Www irs gov formspubs Earned, Foreign Earned Income, Foreign camps. Www irs gov formspubs , Publication 54 - Additional Material Employer's property or facilities, use of, Use of employer's property or facilities. Www irs gov formspubs Investment, treaty benefits for, Common Benefits Partnership, Income from a sole proprietorship or partnership. Www irs gov formspubs Pensions and annuities, Pensions and annuities. Www irs gov formspubs , Common Benefits Personal service, treaty benefits for, Common Benefits Professional fees, Professional fees. Www irs gov formspubs Professors, treaty benefits for, Common Benefits Railroad retirement benefits, Publication 54 - Additional Material Reimbursement of employee expenses, Reimbursement of employee expenses. Www irs gov formspubs Reimbursement of moving expenses, Reimbursement of moving expenses. Www irs gov formspubs Rental, Rental income. Www irs gov formspubs Royalties, Royalties. Www irs gov formspubs Social security benefits, Publication 54 - Additional Material Sole proprietorship, Income from a sole proprietorship or partnership. Www irs gov formspubs Source of, Source of Earned Income Stock options, Stock options. Www irs gov formspubs Students, treaty benefits for, Common Benefits Teachers, treaty benefits for, Common Benefits Trainees, treaty benefits for, Common Benefits Unearned, Earned and Unearned Income Indefinite assignment, Temporary or Indefinite Assignment Individual retirement arrangements (IRAs), Contributions to Individual Retirement Arrangements Individual taxpayer identification number (ITIN), Social security number. Www irs gov formspubs Investment income, treaty benefits for, Common Benefits IRAs, Contributions to Individual Retirement Arrangements L Limit on Foreign housing deduction, Limit Housing expenses, Limit on housing expenses. Www irs gov formspubs Income exclusion, Limit on Excludable Amount, Physical presence test. Www irs gov formspubs Lodging, exclusion of, Exclusion of Meals and Lodging M Married couples, Married Couples Meals and lodging, exclusion of, Exclusion of Meals and Lodging Moving Allocating expenses, Allocation of Moving Expenses Deducting expenses, Moving Expenses, Forms To File Reimbursement of expenses, Reimbursement of moving expenses. Www irs gov formspubs N Nonresident spouse Social security number, Social Security Number (SSN) Treated as resident, Nonresident Alien Spouse Treated as a Resident, Foreign earned income exclusion. Www irs gov formspubs Northern Mariana Islands Possession exclusion, American Samoa, Guam, and the Commonwealth of the Northern Mariana Islands Residents of, Resident of the Commonwealth of the Northern Mariana Islands. Www irs gov formspubs Where to file, Resident of the Commonwealth of the Northern Mariana Islands. Www irs gov formspubs P Part-year exclusion, Part-year exclusion. Www irs gov formspubs Pay for personal services, Earned income. Www irs gov formspubs , Common Benefits Paying U. Www irs gov formspubs S. Www irs gov formspubs tax in foreign currency, Paying U. Www irs gov formspubs S. Www irs gov formspubs tax in foreign currency. Www irs gov formspubs Payment of tax, When To File and Pay Penalties and interest, Publication 54 - Additional Material Pensions and annuities Income from, Pensions and annuities. Www irs gov formspubs , Common Benefits Withholding from, Withholding from pension payments. Www irs gov formspubs Physical presence test 12-month period, How to figure the 12-month period. Www irs gov formspubs Defined, Physical Presence Test Maximum exclusion, Physical presence test. Www irs gov formspubs Meeting the requirements, Publication 54 - Additional Material Waiver of time requirements, Waiver of Time Requirements, U. Www irs gov formspubs S. Www irs gov formspubs Travel Restrictions Professors, treaty benefits for, Common Benefits Publications (see Tax help) Puerto Rico Possession exclusion, Puerto Rico and U. Www irs gov formspubs S. Www irs gov formspubs Virgin Islands Residents of, Puerto Rico. Www irs gov formspubs Q Questions and answers, Publication 54 - Additional Material R Railroad retirement benefits, Publication 54 - Additional Material Reimbursement Accountable plan, Accountable plan. Www irs gov formspubs Employee expenses, Reimbursement of employee expenses. Www irs gov formspubs Moving expenses, Reimbursement of moving expenses. Www irs gov formspubs Resident alien defined, Resident alien. Www irs gov formspubs Revoking choice to exclude, Revoking the Exclusion S Scholarship and fellowship grants, Publication 54 - Additional Material Scholarships, Scholarships and fellowships. Www irs gov formspubs Second foreign household, Second foreign household. Www irs gov formspubs , Married Couples Self-employment tax Clergy, Members of the Clergy Exemption from, Exemption From Social Security and Medicare Taxes How to pay, Publication 54 - Additional Material Who must pay, Who Must Pay Self-Employment Tax? Social security and Medicare taxes, Social Security and Medicare Taxes Social security benefits, Publication 54 - Additional Material Social security number Dependents, Social security number. Www irs gov formspubs Nonresident spouse, Social Security Number (SSN) Source of earned income, Source of Earned Income Spouse, exemption for, Exemptions, Publication 54 - Additional Material Students, treaty benefits for, Common Benefits Substantial presence test, Resident alien. Www irs gov formspubs T Taiwan, American Institute in, American Institute in Taiwan. Www irs gov formspubs Tax help, How To Get Tax Help Tax home, Tax Home in Foreign Country, Temporary or Indefinite Assignment Tax treaties Benefits of, Common Benefits, More information on treaties. Www irs gov formspubs Competent authority assistance, Competent Authority Assistance Determining residence, Special agreements and treaties. Www irs gov formspubs Obtaining copies of, Obtaining Copies of Tax Treaties Purpose of, Purpose of Tax Treaties Teachers, treaty benefits for, Common Benefits Temporary assignment, expenses, Temporary or Indefinite Assignment Totalization agreements, Bilateral Social Security (Totalization) Agreements Trainees, treaty benefits for, Common Benefits Travel restrictions, U. Www irs gov formspubs S. Www irs gov formspubs Travel Restrictions Treaties (see Tax treaties) TTY/TDD information, How To Get Tax Help U U. Www irs gov formspubs S. Www irs gov formspubs Government employees, U. Www irs gov formspubs S. Www irs gov formspubs Government Employees, More information. Www irs gov formspubs U. Www irs gov formspubs S. Www irs gov formspubs Virgin Islands Possession exclusion, Puerto Rico and U. Www irs gov formspubs S. Www irs gov formspubs Virgin Islands V Virgin Islands Nonresidents of, Non-USVI resident with USVI income. Www irs gov formspubs Residents of, Resident of U. Www irs gov formspubs S. Www irs gov formspubs Virgin Islands (USVI). Www irs gov formspubs Where to file, Resident of U. Www irs gov formspubs S. Www irs gov formspubs Virgin Islands (USVI). Www irs gov formspubs W Waiver of time requirements, Waiver of Time Requirements, U. Www irs gov formspubs S. Www irs gov formspubs Travel Restrictions When to file and pay, When To File and Pay, Return filed before test is met. Www irs gov formspubs , Publication 54 - Additional Material Where to file Claiming exclusion/deduction, Where To File Commonwealth of the Northern Mariana Islands residents, Resident of the Commonwealth of the Northern Mariana Islands. Www irs gov formspubs Guam residents, Resident of Guam. Www irs gov formspubs No legal residence in U. Www irs gov formspubs S. Www irs gov formspubs , Where To File Virgin Islands residents, nonresidents, Resident of U. Www irs gov formspubs S. Www irs gov formspubs Virgin Islands (USVI). Www irs gov formspubs Withholding Income tax, Income Tax Withholding , Publication 54 - Additional Material Pension payments, Withholding from pension payments. Www irs gov formspubs Prev  Up     Home   More Online Publications
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SOI Tax Stats - Partnership Statistics

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Snapshot of Partnership Returns, 2010

A partnership is a relationship between two or more persons who join to carry on a trade or business, with each person contributing money, property labor or skill and each expecting to share in the profits and losses of the business whether or not a formal partnership agreement was made. Here you will find data tables and SOI Bulletin articles concerning 1065 partnerships.

For information about selected terms and concepts, and a description of the data sources and limitations, please visit the Partnership Study Metadata page.


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The Www Irs Gov Formspubs

Www irs gov formspubs Internal Revenue Bulletin:  2011-12  March 21, 2011  Rev. Www irs gov formspubs Proc. Www irs gov formspubs 2011-21 Table of Contents SECTION 1. Www irs gov formspubs PURPOSE SECTION 2. Www irs gov formspubs BACKGROUND SECTION 3. Www irs gov formspubs SCOPE SECTION 4. Www irs gov formspubs APPLICATION SECTION 5. Www irs gov formspubs EFFECTIVE DATE SECTION 6. Www irs gov formspubs EFFECT ON OTHER DOCUMENTS SECTION 7. Www irs gov formspubs DRAFTING INFORMATION SECTION 1. Www irs gov formspubs PURPOSE This revenue procedure provides: (1) limitations on depreciation deductions for owners of passenger automobiles first placed in service by the taxpayer during calendar year 2011, including separate tables of limitations on depreciation deductions for trucks and vans; (2) the amounts that must be included in income by lessees of passenger automobiles first leased by the taxpayer during calendar year 2011, including a separate table of inclusion amounts for lessees of trucks and vans; and (3) revised tables of depreciation limitations and lessee inclusion amounts for passenger automobiles that were first placed in service or first leased by the taxpayer, respectively, during 2010 and to which the 50 percent additional first year depreciation deduction under § 168(k)(1)(A) of the Internal Revenue Code or the 100 percent additional first year depreciation deduction under § 168(k)(5) applies. Www irs gov formspubs The tables detailing these depreciation limitations and lessee inclusion amounts reflect the automobile price inflation adjustments required by § 280F(d)(7). Www irs gov formspubs SECTION 2. Www irs gov formspubs BACKGROUND . Www irs gov formspubs 01 For owners of passenger automobiles, § 280F(a) imposes dollar limitations on the depreciation deduction for the year the taxpayer places the passenger automobile in service and for each succeeding year. Www irs gov formspubs For passenger automobiles placed in service after 1988, § 280F(d)(7) requires the Internal Revenue Service to increase the amounts allowable as depreciation deductions by a price inflation adjustment amount. Www irs gov formspubs The method of calculating this price inflation amount for trucks and vans placed in service in or after calendar year 2003 uses a different CPI “automobile component” (the “new trucks” component) than that used in the price inflation amount calculation for other passenger automobiles (the “new cars” component), resulting in somewhat higher depreciation deductions for trucks and vans. Www irs gov formspubs This change reflects the higher rate of price inflation for trucks and vans since 1988. Www irs gov formspubs . Www irs gov formspubs 02 Section 2022(a) of the Small Business Jobs Act of 2010, Pub. Www irs gov formspubs L. Www irs gov formspubs No. Www irs gov formspubs 111-240, 124 Stat. Www irs gov formspubs 2504 (September 27, 2010), extended the 50 percent additional first year depreciation deduction under § 168(k) to qualified property (as defined in § 168(k)(2)) acquired by the taxpayer after December 31, 2007, and before January 1, 2011, if no written binding contract for the acquisition of the property existed before January 1, 2008, and if the taxpayer places the property in service generally before January 1, 2011. Www irs gov formspubs Section 401(a) of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, Pub. Www irs gov formspubs L. Www irs gov formspubs No. Www irs gov formspubs 111-312, 124 Stat. Www irs gov formspubs 3296 (Dec. Www irs gov formspubs 17, 2010) (the “Act”) further extended the 50 percent additional first year depreciation deduction under § 168(k) to qualified property acquired by the taxpayer after December 31, 2007, and before January 1, 2013, if no written binding contract for the acquisition of the property existed before January 1, 2008, and if the taxpayer places the property in service generally before January 1, 2013. Www irs gov formspubs Section 401(b) of the Act further amended § 168(k) by adding § 168(k)(5). Www irs gov formspubs It allows a 100 percent additional first year depreciation deduction for qualified property acquired by a taxpayer after September 8, 2010, and before January 1, 2012, if the taxpayer places the property in service generally before January 1, 2012. Www irs gov formspubs Section 168(k)(2)(F)(i) increases the first year depreciation allowed under § 280F(a)(1)(A)(i) by $8,000 for passenger automobiles to which the additional first year depreciation deduction under § 168(k) (hereinafter, referred to as “§ 168(k) additional first year depreciation deduction”) applies. Www irs gov formspubs . Www irs gov formspubs 03 Section 168(k)(2)(D)(i) provides that the § 168(k) additional first year depreciation deduction does not apply to any property required to be depreciated under the alternative depreciation system of § 168(g), including property described in § 280F(b)(1). Www irs gov formspubs Section 168(k)(2)(D)(iii) permits a taxpayer to elect out of the § 168(k) additional first year depreciation deduction for any class of property. Www irs gov formspubs Section 168(k)(4), as amended by the Act, permits a corporation to elect to increase the alternative minimum tax (“AMT”) credit limitation under § 53(c), instead of claiming the § 168(k) additional first year depreciation deduction for all eligible qualified property placed in service after December 31, 2010, that is round 2 extension property (as defined in § 168(k)(4)(I)(iv). Www irs gov formspubs Accordingly, this revenue procedure provides tables for passenger automobiles for which the § 168(k) additional first year depreciation deduction applies. Www irs gov formspubs This revenue procedure also provides tables for passenger automobiles for which the § 168(k) additional first year depreciation deduction does not apply, either because taxpayer (1) purchased the passenger automobile used; (2) did not use the passenger automobile during 2011 more than 50 percent for business purposes; (3) elected out of the § 168(k) additional first year depreciation deduction pursuant to § 168(k)(2)(D)(iii); or (4) elected to increase the § 53 AMT credit limitation in lieu of claiming § 168(k) additional first year depreciation. Www irs gov formspubs . Www irs gov formspubs 04 Section 280F(c) requires a reduction in the deduction allowed to the lessee of a leased passenger automobile. Www irs gov formspubs The reduction must be substantially equivalent to the limitations on the depreciation deductions imposed on owners of passenger automobiles. Www irs gov formspubs Under § 1. Www irs gov formspubs 280F-7(a) of the Income Tax Regulations, this reduction requires a lessee to include in gross income an amount determined by applying a formula to the amount obtained from a table. Www irs gov formspubs One table applies to lessees of trucks and vans and another table applies to all other passenger automobiles. Www irs gov formspubs Each table shows inclusion amounts for a range of fair market values for each taxable year after the passenger automobile is first leased. Www irs gov formspubs SECTION 3. Www irs gov formspubs SCOPE . Www irs gov formspubs 01 The limitations on depreciation deductions in section 4. Www irs gov formspubs 01(2) of this revenue procedure apply to passenger automobiles (other than leased passenger automobiles) that are placed in service by the taxpayer in calendar year 2011, and continue to apply for each taxable year that the passenger automobile remains in service. Www irs gov formspubs . Www irs gov formspubs 02 The tables in section 4. Www irs gov formspubs 02 of this revenue procedure apply to leased passenger automobiles for which the lease term begins during calendar year 2011. Www irs gov formspubs Lessees of these passenger automobiles must use these tables to determine the inclusion amount for each taxable year during which the passenger automobile is leased. Www irs gov formspubs See Rev. Www irs gov formspubs Proc. Www irs gov formspubs 2006-18, 2006-1 C. Www irs gov formspubs B. Www irs gov formspubs 645, for passenger automobiles first leased during calendar year 2006; Rev. Www irs gov formspubs Proc. Www irs gov formspubs 2007-30, 2007-1 C. Www irs gov formspubs B. Www irs gov formspubs 1104, for passenger automobiles first leased during calendar year 2007; Rev. Www irs gov formspubs Proc. Www irs gov formspubs 2008-22, 2008-1 C. Www irs gov formspubs B. Www irs gov formspubs 658, for passenger automobiles first leased during calendar year 2008; Rev. Www irs gov formspubs Proc. Www irs gov formspubs 2009-24, 2009-1 C. Www irs gov formspubs B. Www irs gov formspubs 885, for passenger automobiles first leased during calendar year 2009; and Rev. Www irs gov formspubs Proc. Www irs gov formspubs 2010-18, 2010-1 C. Www irs gov formspubs B. Www irs gov formspubs 427, as amplified and modified by section 4. Www irs gov formspubs 03 of this revenue procedure, for passenger automobiles first leased during calendar year 2010. Www irs gov formspubs SECTION 4. Www irs gov formspubs APPLICATION . Www irs gov formspubs 01 Limitations on Depreciation Deductions for Certain Automobiles. Www irs gov formspubs (1) Amount of the inflation adjustment. Www irs gov formspubs (a) Passenger automobiles (other than trucks or vans). Www irs gov formspubs Under § 280F(d)(7)(B)(i), the automobile price inflation adjustment for any calendar year is the percentage (if any) by which the CPI automobile component for October of the preceding calendar year exceeds the CPI automobile component for October 1987. Www irs gov formspubs Section 280F(d)(7)(B)(ii) defines the term “CPI automobile component” as the automobile component of the Consumer Price Index for all Urban Consumers published by the Department of Labor. Www irs gov formspubs The new car component of the CPI was 115. Www irs gov formspubs 2 for October 1987 and 137. Www irs gov formspubs 880 for October 2010. Www irs gov formspubs The October 2010 index exceeded the October 1987 index by 22. Www irs gov formspubs 680. Www irs gov formspubs Therefore, the automobile price inflation adjustment for 2011 for passenger automobiles (other than trucks and vans) is 19. Www irs gov formspubs 69 percent (22. Www irs gov formspubs 680/115. Www irs gov formspubs 2 x 100%). Www irs gov formspubs The dollar limitations in § 280F(a) are multiplied by a factor of 0. Www irs gov formspubs 1969, and the resulting increases, after rounding to the nearest $100, are added to the 1988 limitations to give the depreciation limitations applicable to passenger automobiles (other than trucks and vans) for calendar year 2011. Www irs gov formspubs This adjustment applies to all passenger automobiles (other than trucks and vans) that are first placed in service in calendar year 2011. Www irs gov formspubs (b) Trucks and vans. Www irs gov formspubs To determine the dollar limitations for trucks and vans first placed in service during calendar year 2011, the Service uses the new truck component of the CPI instead of the new car component. Www irs gov formspubs The new truck component of the CPI was 112. Www irs gov formspubs 4 for October 1987 and 142. Www irs gov formspubs 556 for October 2010. Www irs gov formspubs The October 2010 index exceeded the October 1987 index by 30. Www irs gov formspubs 156. Www irs gov formspubs Therefore, the automobile price inflation adjustment for 2011 for trucks and vans is 26. Www irs gov formspubs 83 percent (30. Www irs gov formspubs 156/112. Www irs gov formspubs 4 x 100%). Www irs gov formspubs The dollar limitations in § 280F(a) are multiplied by a factor of 0. Www irs gov formspubs 2683, and the resulting increases, after rounding to the nearest $100, are added to the 1988 limitations to give the depreciation limitations for trucks and vans. Www irs gov formspubs This adjustment applies to all trucks and vans that are first placed in service in calendar year 2011. Www irs gov formspubs (2) Amount of the limitation. Www irs gov formspubs Tables 1 through 4 contain the dollar amount of the depreciation limitation for each taxable year for passenger automobiles a taxpayer places in service in calendar year 2011. Www irs gov formspubs Use Table 1 for a passenger automobile (other than a truck or van), and Table 2 for a truck or van, placed in service in calendar year 2011 for which the § 168(k) additional first year depreciation deduction applies. Www irs gov formspubs Use Table 3 for a passenger automobile (other than a truck or van), and Table 4 for a truck or van, placed in service in calendar year 2011 for which the § 168(k) additional first year depreciation deduction does not apply. Www irs gov formspubs The Service intends to issue additional guidance addressing the interaction between the 100 percent additional first year depreciation deduction and § 280F(a) for the taxable years subsequent to the first taxable year. Www irs gov formspubs REV. Www irs gov formspubs PROC. Www irs gov formspubs 2011-21 TABLE 1 DEPRECIATION LIMITATIONS FOR PASSENGER AUTOMOBILES (THAT ARE NOT TRUCKS OR VANS) PLACED IN SERVICE IN CALENDAR YEAR 2011 FOR WHICH THE § 168(k) ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION APPLIES Tax Year Amount 1st Tax Year $11,060 2nd Tax Year $4,900 3rd Tax Year $2,950 Each Succeeding Year $1,775 REV. Www irs gov formspubs PROC. Www irs gov formspubs 2011-21 TABLE 2 DEPRECIATION LIMITATIONS FOR TRUCKS AND VANS PLACED IN SERVICE IN CALENDAR YEAR 2011 FOR WHICH THE § 168(k) ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION APPLIES Tax Year Amount 1st Tax Year $11,260 2nd Tax Year $5,200 3rd Tax Year $3,150 Each Succeeding Year $1,875 REV. Www irs gov formspubs PROC. Www irs gov formspubs 2011-21 TABLE 3 DEPRECIATION LIMITATIONS FOR PASSENGER AUTOMOBILES (THAT ARE NOT TRUCKS OR VANS) PLACED IN SERVICE IN CALENDAR YEAR 2011 FOR WHICH THE § 168(k) ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION DOES NOT APPLY Tax Year Amount 1st Tax Year $3,060 2nd Tax Year $4,900 3rd Tax Year $2,950 Each Succeeding Year $1,775 REV. Www irs gov formspubs PROC. Www irs gov formspubs 2011-21 TABLE 4 DEPRECIATION LIMITATIONS FOR TRUCKS AND VANS PLACED IN SERVICE IN CALENDAR YEAR 2011 FOR WHICH THE § 168(k) ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION DOES NOT APPLY Tax Year Amount 1st Tax Year $3,260 2nd Tax Year $5,200 3rd Tax Year $3,150 Each Succeeding Year $1,875 . Www irs gov formspubs 02 Inclusions in Income of Lessees of Passenger Automobiles. Www irs gov formspubs A taxpayer must follow the procedures in § 1. Www irs gov formspubs 280F-7(a) for determining the inclusion amounts for passenger automobiles first leased in calendar year 2011. Www irs gov formspubs In applying these procedures, lessees of passenger automobiles other than trucks and vans should use Table 5 of this revenue procedure, while lessees of trucks and vans should use Table 6 of this revenue procedure. Www irs gov formspubs REV. Www irs gov formspubs PROC. Www irs gov formspubs 2011-21 TABLE 5 DOLLAR AMOUNTS FOR PASSENGER AUTOMOBILES (THAT ARE NOT TRUCKS OR VANS) WITH A LEASE TERM BEGINNING IN CALENDAR YEAR 2011 Fair Market Value of Passenger Automobile Tax Year During Lease Over Not Over 1st 2nd 3rd 4th 5th & later $18,500 $19,000 3 8 11 13 16 19,000 19,500 4 9 13 15 18 19,500 20,000 4 10 15 17 20 20,000 20,500 5 11 16 19 23 20,500 21,000 5 12 18 21 25 21,000 21,500 6 13 19 24 26 21,500 22,000 6 14 21 26 29 22,000 23,000 7 16 23 29 32 23,000 24,000 8 18 27 32 37 24,000 25,000 9 20 30 36 42 25,000 26,000 10 23 33 40 46 26,000 27,000 11 25 36 44 51 27,000 28,000 12 27 40 48 55 28,000 29,000 13 29 43 52 60 29,000 30,000 14 31 47 55 65 30,000 31,000 15 34 49 60 69 31,000 32,000 16 36 53 63 73 32,000 33,000 17 38 56 68 77 33,000 34,000 18 40 60 71 82 34,000 35,000 19 42 63 75 87 35,000 36,000 20 45 66 79 91 36,000 37,000 21 47 69 83 96 37,000 38,000 22 49 73 87 100 38,000 39,000 23 51 76 91 105 39,000 40,000 24 53 80 94 110 40,000 41,000 25 56 82 99 114 41,000 42,000 26 58 86 102 119 42,000 43,000 27 60 89 107 123 43,000 44,000 28 62 93 110 128 44,000 45,000 29 64 96 114 133 45,000 46,000 30 67 98 119 137 46,000 47,000 31 69 102 122 141 47,000 48,000 32 71 105 127 145 48,000 49,000 33 73 109 130 150 49,000 50,000 34 76 111 134 155 50,000 51,000 35 78 115 138 159 51,000 52,000 36 80 118 142 164 52,000 53,000 37 82 122 146 168 53,000 54,000 38 84 125 150 173 54,000 55,000 39 87 128 153 178 55,000 56,000 40 89 131 158 182 56,000 57,000 41 91 135 161 187 57,000 58,000 42 93 138 166 191 58,000 59,000 43 95 142 169 196 59,000 60,000 44 98 144 174 200 60,000 62,000 46 101 149 179 207 62,000 64,000 48 105 156 187 216 64,000 66,000 50 109 163 195 225 66,000 68,000 52 114 169 203 234 68,000 70,000 54 118 176 211 243 70,000 72,000 56 123 182 218 253 72,000 74,000 58 127 189 226 262 74,000 76,000 60 132 195 234 270 76,000 78,000 62 136 202 242 279 78,000 80,000 64 140 209 250 288 80,000 85,000 67 148 220 264 304 85,000 90,000 72 159 237 283 327 90,000 95,000 77 170 253 303 350 95,000 100,000 82 181 269 323 372 100,000 110,000 90 198 293 352 406 110,000 120,000 100 220 326 391 452 120,000 130,000 110 242 359 430 497 130,000 140,000 120 264 392 469 543 140,000 150,000 130 286 424 509 588 150,000 160,000 140 308 457 548 633 160,000 170,000 150 330 490 587 679 170,000 180,000 160 352 523 626 724 180,000 190,000 170 374 555 666 769 190,000 200,000 180 396 588 705 815 200,000 210,000 190 418 621 744 860 210,000 220,000 200 440 654 784 904 220,000 230,000 210 462 687 823 950 230,000 240,000 220 484 719 863 995 240,000 And up 230 506 752 902 1,040 REV. Www irs gov formspubs PROC. Www irs gov formspubs 2011-21 TABLE 6 DOLLAR AMOUNTS FOR TRUCKS AND VANS WITH A LEASE TERM BEGINNING IN CALENDAR YEAR 2011 Fair Market Value of Truck or Van Tax Year During Lease Over Not Over 1st 2nd 3rd 4th 5th & later $19,000 $19,500 3 7 9 12 13 19,500 20,000 3 8 11 14 15 20,000 20,500 4 9 13 15 18 20,500 21,000 4 10 15 17 20 21,000 21,500 5 11 16 20 22 21,500 22,000 5 12 18 22 24 22,000 23,000 6 14 20 24 29 23,000 24,000 7 16 24 28 32 24,000 25,000 8 18 27 32 37 25,000 26,000 9 20 31 36 41 26,000 27,000 10 23 33 40 46 27,000 28,000 11 25 37 43 51 28,000 29,000 12 27 40 48 55 29,000 30,000 13 29 43 52 60 30,000 31,000 14 31 47 56 64 31,000 32,000 15 34 49 60 69 32,000 33,000 16 36 53 63 74 33,000 34,000 17 38 56 68 78 34,000 35,000 18 40 60 71 83 35,000 36,000 19 43 62 76 87 36,000 37,000 20 45 66 79 92 37,000 38,000 21 47 69 83 97 38,000 39,000 22 49 73 87 101 39,000 40,000 23 51 76 91 105 40,000 41,000 24 54 79 95 109 41,000 42,000 25 56 82 99 114 42,000 43,000 26 58 86 103 118 43,000 44,000 27 60 89 107 123 44,000 45,000 28 62 93 110 128 45,000 46,000 29 65 95 115 132 46,000 47,000 30 67 99 118 137 47,000 48,000 31 69 102 123 141 48,000 49,000 32 71 106 126 146 49,000 50,000 33 73 109 130 151 50,000 51,000 34 76 112 134 155 51,000 52,000 35 78 115 138 160 52,000 53,000 36 80 118 143 164 53,000 54,000 37 82 122 146 169 54,000 55,000 38 84 125 150 173 55,000 56,000 39 87 128 154 177 56,000 57,000 40 89 131 158 182 57,000 58,000 41 91 135 162 186 58,000 59,000 42 93 138 166 191 59,000 60,000 43 95 142 169 196 60,000 62,000 45 99 146 175 203 62,000 64,000 47 103 153 183 212 64,000 66,000 49 107 160 191 221 66,000 68,000 51 112 166 199 229 68,000 70,000 53 116 173 206 239 70,000 72,000 55 121 179 214 248 72,000 74,000 57 125 186 222 257 74,000 76,000 59 129 192 231 266 76,000 78,000 61 134 198 239 275 78,000 80,000 63 138 205 246 285 80,000 85,000 66 146 217 260 300 85,000 90,000 71 157 233 280 322 90,000 95,000 76 168 250 299 345 95,000 100,000 81 179 266 319 368 100,000 110,000 89 196 290 348 402 110,000 120,000 99 218 323 387 447 120,000 130,000 109 240 355 427 493 130,000 140,000 119 262 388 466 538 140,000 150,000 129 284 421 505 583 150,000 160,000 139 306 454 544 629 160,000 170,000 149 328 487 583 674 170,000 180,000 159 350 519 623 719 180,000 190,000 169 372 552 662 765 190,000 200,000 179 394 585 701 810 200,000 210,000 189 416 618 740 856 210,000 220,000 199 438 651 779 901 220,000 230,000 209 460 683 819 946 230,000 240,000 219 482 716 858 992 240,000 And up 229 504 749 897 1,037 . Www irs gov formspubs 03 Revised Amounts for Passenger Automobiles Placed in Service During 2010. Www irs gov formspubs (1) Calculation of the Revised Amount. Www irs gov formspubs The revised depreciation limits provided in this section 4. Www irs gov formspubs 03 were calculated by increasing the existing limitations on the first year allowance in Rev. Www irs gov formspubs Proc. Www irs gov formspubs 2010-18 by $8,000 as provided in § 168(k)(2)(F)(i). Www irs gov formspubs (2) Amount of the Revised Limitation. Www irs gov formspubs For passenger automobiles (that are not trucks or vans) placed in service by the taxpayer in calendar year 2010 for which the § 168(k) additional first year depreciation deduction applies, Table 7 of this revenue procedure contains the revised dollar amount of the depreciation limitations for each taxable year. Www irs gov formspubs For trucks or vans placed in service by the taxpayer in calendar year 2010 for which the § 168(k) additional first year depreciation deduction applies, Table 8 of this revenue procedure contains the revised dollar amount of the depreciation limitations for each taxable year. Www irs gov formspubs If the § 168(k) additional first year depreciation deduction does not apply to a passenger automobile placed in service by the taxpayer in calendar year 2010, the depreciation limitations for each taxable year in Tables 1 and 2 of Rev. Www irs gov formspubs Proc. Www irs gov formspubs 2010-18 apply. Www irs gov formspubs REV. Www irs gov formspubs PROC. Www irs gov formspubs 2011-21 TABLE 7 DEPRECIATION LIMITATIONS FOR PASSENGER AUTOMOBILES (THAT ARE NOT TRUCKS OR VANS) PLACED IN SERVICE IN CALENDAR YEAR 2010 FOR WHICH THE § 168(k) ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION APPLIES Tax Year Amount 1st Tax Year $11,060 2nd Tax Year $4,900 3rd Tax Year $2,950 Each Succeeding Year $1,775 REV. Www irs gov formspubs PROC. Www irs gov formspubs 2011-21 TABLE 8 DEPRECIATION LIMITATIONS FOR TRUCKS AND VANS PLACED IN SERVICE IN CALENDAR YEAR 2010 FOR WHICH THE § 168(k) ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION APPLIES Tax Year Amount 1st Tax Year $11,160 2nd Tax Year $5,100 3rd Tax Year $3,050 Each Succeeding Year $1,875 (3) Modification to lease inclusion amounts for 2010. Www irs gov formspubs The lease inclusion amounts in Tables 3 and 4 of Rev. Www irs gov formspubs Proc. Www irs gov formspubs 2010-18 are modified by striking the first four lines of the inclusion amounts in each table. Www irs gov formspubs Consequently, Table 3 of Rev. Www irs gov formspubs Proc. Www irs gov formspubs 2010-18 applies to passenger automobiles (other than trucks and vans) that are first leased by the taxpayer in calendar year 2010 with a fair market value over $18,500, and Table 4 of Rev. Www irs gov formspubs Proc. Www irs gov formspubs 2010-18 applies to trucks and vans that are first leased by the taxpayer in calendar year 2010 with a fair market value over $19,000. Www irs gov formspubs SECTION 5. Www irs gov formspubs EFFECTIVE DATE This revenue procedure, with the exception of section 4. Www irs gov formspubs 03, applies to passenger automobiles that a taxpayer first places in service or first leases during calendar year 2011. Www irs gov formspubs Section 4. Www irs gov formspubs 03 of this revenue procedure applies to passenger automobiles that a taxpayer first places in service or first leases during calendar year 2010. Www irs gov formspubs SECTION 6. Www irs gov formspubs EFFECT ON OTHER DOCUMENTS Rev. Www irs gov formspubs Proc. Www irs gov formspubs 2010-18 is amplified and modified. Www irs gov formspubs SECTION 7. Www irs gov formspubs DRAFTING INFORMATION The principal author of this revenue procedure is Bernard P. Www irs gov formspubs Harvey of the Office of Associate Chief Counsel (Income Tax & Accounting). Www irs gov formspubs For further information regarding this revenue procedure, contact Mr. Www irs gov formspubs Harvey at (202) 622-4930 (not a toll-free call). Www irs gov formspubs Prev  Up  Next   Home   More Internal Revenue Bulletins