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2012 Online Tax Return

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2012 Online Tax Return

2012 online tax return 8. 2012 online tax return   Amortization Table of Contents Introduction Topics - This chapter discusses: Useful Items - You may want to see: How To Deduct Amortization Starting a BusinessBusiness Start-Up Costs Costs of Organizing a Corporation Costs of Organizing a Partnership How To Amortize Getting a Lease Section 197 IntangiblesSection 197 Intangibles Defined Assets That Are Not Section 197 Intangibles Safe Harbor for Creative Property Costs Anti-Churning Rules Incorrect Amount of Amortization Deducted Disposition of Section 197 Intangibles Reforestation Costs Geological and Geophysical Costs Pollution Control FacilitiesNew identifiable treatment facility. 2012 online tax return Research and Experimental Costs Optional Write-off of Certain Tax Preferences Introduction Amortization is a method of recovering (deducting) certain capital costs over a fixed period of time. 2012 online tax return It is similar to the straight line method of depreciation. 2012 online tax return The various amortizable costs covered in this chapter are included in the list below. 2012 online tax return However, this chapter does not discuss amortization of bond premium. 2012 online tax return For information on that topic, see chapter 3 of Publication 550, Investment Income and Expenses. 2012 online tax return Topics - This chapter discusses: Deducting amortization Amortizing costs of starting a business Amortizing costs of getting a lease Amortizing costs of section 197 intangibles Amortizing reforestation costs Amortizing costs of geological and geophysical costs Amortizing costs of pollution control facilities Amortizing costs of research and experimentation Amortizing costs of certain tax preferences Useful Items - You may want to see: Publication 544 Sales and Other Dispositions of Assets 550 Investment Income and Expenses 946 How To Depreciate Property Form (and Instructions) 4562 Depreciation and Amortization 4626 Alternative Minimum Tax—Corporations 6251 Alternative Minimum Tax—Individuals See chapter 12 for information about getting publications and forms. 2012 online tax return How To Deduct Amortization To deduct amortization that begins during the current tax year, complete Part VI of Form 4562 and attach it to your income tax return. 2012 online tax return To report amortization from previous years, in addition to amortization that begins in the current year, list on Form 4562 each item separately. 2012 online tax return For example, in 2012, you began to amortize a lease. 2012 online tax return In 2013, you began to amortize a second lease. 2012 online tax return Report amortization from the new lease on line 42 of your 2013 Form 4562. 2012 online tax return Report amortization from the 2012 lease on line 43 of your 2013 Form 4562. 2012 online tax return If you do not have any new amortizable expenses for the current year, you are not required to complete Form 4562 (unless you are claiming depreciation). 2012 online tax return Report the current year's deduction for amortization that began in a prior year directly on the “Other deduction” or “Other expense line” of your return. 2012 online tax return Starting a Business When you start a business, treat all eligible costs you incur before you begin operating the business as capital expenditures which are part of your basis in the business. 2012 online tax return Generally, you recover costs for particular assets through depreciation deductions. 2012 online tax return However, you generally cannot recover other costs until you sell the business or otherwise go out of business. 2012 online tax return For a discussion on how to treat these costs, see If your attempt to go into business is unsuccessful under Capital Expenses in chapter 1. 2012 online tax return For costs paid or incurred after September 8, 2008, you can deduct a limited amount of start-up and organizational costs. 2012 online tax return The costs that are not deducted currently can be amortized ratably over a 180-month period. 2012 online tax return The amortization period starts with the month you begin operating your active trade or business. 2012 online tax return You are not required to attach a statement to make this election. 2012 online tax return You can choose to forgo this election by affirmatively electing to capitalize your start-up costs on your income tax return filed by the due date (including extensions) for the tax year in which the active trade or business begins. 2012 online tax return Once made, the election to either amortize or capitalize start-up costs is irrevocable and applies to all start-up costs that are related to your trade or business. 2012 online tax return See Regulations sections 1. 2012 online tax return 195-1, 1. 2012 online tax return 248-1, and 1. 2012 online tax return 709-1. 2012 online tax return For costs paid or incurred after October 22, 2004, and before September 9, 2008, you can elect to deduct a limited amount of business start-up and organizational costs in the year your active trade or business begins. 2012 online tax return Any costs not deducted can be amortized ratably over a 180-month period, beginning with the month you begin business. 2012 online tax return If the election is made, you must attach any statement required by Regulations sections 1. 2012 online tax return 195-1(b), 1. 2012 online tax return 248-1(c), and 1. 2012 online tax return 709-1(c), as in effect before September 9, 2008. 2012 online tax return Note. 2012 online tax return You can apply the provisions of Regulations sections 1. 2012 online tax return 195-1, 1. 2012 online tax return 248-1, and 1. 2012 online tax return 709-1 to all business start-up and organizational costs paid or incurred after October 22, 2004, provided the period of limitations on assessment has not expired for the year of the election. 2012 online tax return Otherwise, the provisions under Regulations sections 1. 2012 online tax return 195-1(b), 1. 2012 online tax return 248-1(c), and 1. 2012 online tax return 709-1(c), as in effect before September 9, 2008, will apply. 2012 online tax return For costs paid or incurred before October 23, 2004, you can elect to amortize business start-up and organization costs over an amortization period of 60 months or more. 2012 online tax return See How To Make the Election , later. 2012 online tax return The cost must qualify as one of the following. 2012 online tax return A business start-up cost. 2012 online tax return An organizational cost for a corporation. 2012 online tax return An organizational cost for a partnership. 2012 online tax return Business Start-Up Costs Start-up costs are amounts paid or incurred for: (a) creating an active trade or business; or (b) investigating the creation or acquisition of an active trade or business. 2012 online tax return Start-up costs include amounts paid or incurred in connection with an existing activity engaged in for profit; and for the production of income in anticipation of the activity becoming an active trade or business. 2012 online tax return Qualifying costs. 2012 online tax return   A start-up cost is amortizable if it meets both of the following tests. 2012 online tax return It is a cost you could deduct if you paid or incurred it to operate an existing active trade or business (in the same field as the one you entered into). 2012 online tax return It is a cost you pay or incur before the day your active trade or business begins. 2012 online tax return   Start-up costs include amounts paid for the following: An analysis or survey of potential markets, products, labor supply, transportation facilities, etc. 2012 online tax return Advertisements for the opening of the business. 2012 online tax return Salaries and wages for employees who are being trained and their instructors. 2012 online tax return Travel and other necessary costs for securing prospective distributors, suppliers, or customers. 2012 online tax return Salaries and fees for executives and consultants, or for similar professional services. 2012 online tax return Nonqualifying costs. 2012 online tax return   Start-up costs do not include deductible interest, taxes, or research and experimental costs. 2012 online tax return See Research and Experimental Costs , later. 2012 online tax return Purchasing an active trade or business. 2012 online tax return   Amortizable start-up costs for purchasing an active trade or business include only investigative costs incurred in the course of a general search for or preliminary investigation of the business. 2012 online tax return These are costs that help you decide whether to purchase a business. 2012 online tax return Costs you incur in an attempt to purchase a specific business are capital expenses that you cannot amortize. 2012 online tax return Example. 2012 online tax return On June 1st, you hired an accounting firm and a law firm to assist you in the potential purchase of XYZ, Inc. 2012 online tax return They researched XYZ's industry and analyzed the financial projections of XYZ, Inc. 2012 online tax return In September, the law firm prepared and submitted a letter of intent to XYZ, Inc. 2012 online tax return The letter stated that a binding commitment would result only after a purchase agreement was signed. 2012 online tax return The law firm and accounting firm continued to provide services including a review of XYZ's books and records and the preparation of a purchase agreement. 2012 online tax return On October 22nd, you signed a purchase agreement with XYZ, Inc. 2012 online tax return All amounts paid or incurred to investigate the business before October 22nd are amortizable investigative costs. 2012 online tax return Amounts paid on or after that date relate to the attempt to purchase the business and therefore must be capitalized. 2012 online tax return Disposition of business. 2012 online tax return   If you completely dispose of your business before the end of the amortization period, you can deduct any remaining deferred start-up costs. 2012 online tax return However, you can deduct these deferred start-up costs only to the extent they qualify as a loss from a business. 2012 online tax return Costs of Organizing a Corporation Amounts paid to organize a corporation are the direct costs of creating the corporation. 2012 online tax return Qualifying costs. 2012 online tax return   To qualify as an organizational cost, it must be: For the creation of the corporation, Chargeable to a capital account (see chapter 1), Amortized over the life of the corporation if the corporation had a fixed life, and Incurred before the end of the first tax year in which the corporation is in business. 2012 online tax return   A corporation using the cash method of accounting can amortize organizational costs incurred within the first tax year, even if it does not pay them in that year. 2012 online tax return   Examples of organizational costs include: The cost of temporary directors. 2012 online tax return The cost of organizational meetings. 2012 online tax return State incorporation fees. 2012 online tax return The cost of legal services. 2012 online tax return Nonqualifying costs. 2012 online tax return   The following items are capital expenses that cannot be amortized: Costs for issuing and selling stock or securities, such as commissions, professional fees, and printing costs. 2012 online tax return Costs associated with the transfer of assets to the corporation. 2012 online tax return Costs of Organizing a Partnership The costs to organize a partnership are the direct costs of creating the partnership. 2012 online tax return Qualifying costs. 2012 online tax return   A partnership can amortize an organizational cost only if it meets all the following tests. 2012 online tax return It is for the creation of the partnership and not for starting or operating the partnership trade or business. 2012 online tax return It is chargeable to a capital account (see chapter 1). 2012 online tax return It could be amortized over the life of the partnership if the partnership had a fixed life. 2012 online tax return It is incurred by the due date of the partnership return (excluding extensions) for the first tax year in which the partnership is in business. 2012 online tax return However, if the partnership uses the cash method of accounting and pays the cost after the end of its first tax year, see Cash method partnership under How To Amortize, later. 2012 online tax return It is for a type of item normally expected to benefit the partnership throughout its entire life. 2012 online tax return   Organizational costs include the following fees. 2012 online tax return Legal fees for services incident to the organization of the partnership, such as negotiation and preparation of the partnership agreement. 2012 online tax return Accounting fees for services incident to the organization of the partnership. 2012 online tax return Filing fees. 2012 online tax return Nonqualifying costs. 2012 online tax return   The following costs cannot be amortized. 2012 online tax return The cost of acquiring assets for the partnership or transferring assets to the partnership. 2012 online tax return The cost of admitting or removing partners, other than at the time the partnership is first organized. 2012 online tax return The cost of making a contract concerning the operation of the partnership trade or business including a contract between a partner and the partnership. 2012 online tax return The costs for issuing and marketing interests in the partnership such as brokerage, registration, and legal fees and printing costs. 2012 online tax return These “syndication fees” are capital expenses that cannot be depreciated or amortized. 2012 online tax return Liquidation of partnership. 2012 online tax return   If a partnership is liquidated before the end of the amortization period, the unamortized amount of qualifying organizational costs can be deducted in the partnership's final tax year. 2012 online tax return However, these costs can be deducted only to the extent they qualify as a loss from a business. 2012 online tax return How To Amortize Deduct start-up and organizational costs in equal amounts over the applicable amortization period (discussed earlier). 2012 online tax return You can choose an amortization period for start-up costs that is different from the period you choose for organizational costs, as long as both are not less than the applicable amortization period. 2012 online tax return Once you choose an amortization period, you cannot change it. 2012 online tax return To figure your deduction, divide your total start-up or organizational costs by the months in the amortization period. 2012 online tax return The result is the amount you can deduct for each month. 2012 online tax return Cash method partnership. 2012 online tax return   A partnership using the cash method of accounting can deduct an organizational cost only if it has been paid by the end of the tax year. 2012 online tax return However, any cost the partnership could have deducted as an organizational cost in an earlier tax year (if it had been paid that year) can be deducted in the tax year of payment. 2012 online tax return How To Make the Election To elect to amortize start-up or organizational costs, you must complete and attach Form 4562 to your return for the first tax year you are in business. 2012 online tax return You may also be required to attach an accompanying statement (described later) to your return. 2012 online tax return For start-up or organizational costs paid or incurred after September 8, 2008, an accompanying statement is not required. 2012 online tax return Generally, for start-up or organizational costs paid or incurred before September 9, 2008, and after October 22, 2004, unless you choose to apply Regulations sections 1. 2012 online tax return 195-1, 1. 2012 online tax return 248-1, and 1. 2012 online tax return 709-1, you must also attach an accompanying statement to elect to amortize the costs. 2012 online tax return If you have both start-up and organizational costs, attach a separate statement (if required) to your return for each type of cost. 2012 online tax return See Starting a Business , earlier, for more information. 2012 online tax return Generally, you must file the return by the due date (including any extensions). 2012 online tax return However, if you timely filed your return for the year without making the election, you can still make the election by filing an amended return within 6 months of the due date of the return (excluding extensions). 2012 online tax return For more information, see the instructions for Part VI of Form 4562. 2012 online tax return You can choose to forgo the election to amortize by affirmatively electing to capitalize your start-up or organizational costs on your income tax return filed by the due date (including extensions) for the tax year in which the active trade or business begins. 2012 online tax return Note. 2012 online tax return The election to either amortize or capitalize start-up or organizational costs is irrevocable and applies to all start-up and organizational costs that are related to the trade or business. 2012 online tax return If your business is organized as a corporation or partnership, only the corporation or partnership can elect to amortize its start-up or organizational costs. 2012 online tax return A shareholder or partner cannot make this election. 2012 online tax return You, as a shareholder or partner, cannot amortize any costs you incur in setting up your corporation or partnership. 2012 online tax return Only the corporation or partnership can amortize these costs. 2012 online tax return However, you, as an individual, can elect to amortize costs you incur to investigate an interest in an existing partnership. 2012 online tax return These costs qualify as business start-up costs if you acquire the partnership interest. 2012 online tax return Start-up costs election statement. 2012 online tax return   If you elect to amortize your start-up costs, attach a separate statement (if required) that contains the following information. 2012 online tax return A description of the business to which the start-up costs relate. 2012 online tax return A description of each start-up cost incurred. 2012 online tax return The month your active business began (or was acquired). 2012 online tax return The number of months in your amortization period (which is generally 180 months). 2012 online tax return Filing the statement early. 2012 online tax return   You can elect to amortize your start-up costs by filing the statement with a return for any tax year before the year your active business begins. 2012 online tax return If you file the statement early, the election becomes effective in the month of the tax year your active business begins. 2012 online tax return Revised statement. 2012 online tax return   You can file a revised statement to include any start-up costs not included in your original statement. 2012 online tax return However, you cannot include on the revised statement any cost you previously treated on your return as a cost other than a start-up cost. 2012 online tax return You can file the revised statement with a return filed after the return on which you elected to amortize your start-up costs. 2012 online tax return Organizational costs election statement. 2012 online tax return   If you elect to amortize your corporation's or partnership's organizational costs, attach a separate statement (if required) that contains the following information. 2012 online tax return A description of each cost. 2012 online tax return The amount of each cost. 2012 online tax return The date each cost was incurred. 2012 online tax return The month your corporation or partnership began active business (or acquired the business). 2012 online tax return The number of months in your amortization period (which is generally 180 months). 2012 online tax return Partnerships. 2012 online tax return   The statement prepared for a cash basis partnership must also indicate the amount paid before the end of the year for each cost. 2012 online tax return   You do not need to separately list any partnership organizational cost that is less than $10. 2012 online tax return Instead, you can list the total amount of these costs with the dates the first and last costs were incurred. 2012 online tax return   After a partnership makes the election to amortize organizational costs, it can later file an amended return to include additional organizational costs not included in the partnership's original return and statement. 2012 online tax return Getting a Lease If you get a lease for business property, you may recover the cost of acquiring the lease by amortizing it over the term of the lease. 2012 online tax return The term of the lease for amortization purposes generally includes all renewal options (and any other period for which you and the lessor reasonably expect the lease to be renewed). 2012 online tax return However, renewal periods are not included if 75% or more of the cost of acquiring the lease is for the term of the lease remaining on the acquisition date (not including any period for which you may choose to renew, extend, or continue the lease). 2012 online tax return For more information on the costs of getting a lease, see Cost of Getting a Lease in  chapter 3. 2012 online tax return How to amortize. 2012 online tax return   Enter your deduction in Part VI of Form 4562 if you are deducting amortization that begins during the current year, or on the appropriate line of your tax return if you are not otherwise required to file Form 4562. 2012 online tax return Section 197 Intangibles Generally, you may amortize the capitalized costs of “section 197 intangibles” (defined later) ratably over a 15-year period. 2012 online tax return You must amortize these costs if you hold the section 197 intangibles in connection with your trade or business or in an activity engaged in for the production of income. 2012 online tax return You may not be able to amortize section 197 intangibles acquired in a transaction that did not result in a significant change in ownership or use. 2012 online tax return See Anti-Churning Rules, later. 2012 online tax return Your amortization deduction each year is the applicable part of the intangible's adjusted basis (for purposes of determining gain), figured by amortizing it ratably over 15 years (180 months). 2012 online tax return The 15-year period begins with the later of: The month the intangible is acquired, or The month the trade or business or activity engaged in for the production of income begins. 2012 online tax return You cannot deduct amortization for the month you dispose of the intangible. 2012 online tax return If you pay or incur an amount that increases the basis of an amortizable section 197 intangible after the 15-year period begins, amortize it over the remainder of the 15-year period beginning with the month the basis increase occurs. 2012 online tax return You are not allowed any other depreciation or amortization deduction for an amortizable section 197 intangible. 2012 online tax return Tax-exempt use property subject to a lease. 2012 online tax return   The amortization period for any section 197 intangible leased under a lease agreement entered into after March 12, 2004, to a tax-exempt organization, governmental unit, or foreign person or entity (other than a partnership), shall not be less than 125 percent of the lease term. 2012 online tax return Cost attributable to other property. 2012 online tax return   The rules for section 197 intangibles do not apply to any amount that is included in determining the cost of property that is not a section 197 intangible. 2012 online tax return For example, if the cost of computer software is not separately stated from the cost of hardware or other tangible property and you consistently treat it as part of the cost of the hardware or other tangible property, these rules do not apply. 2012 online tax return Similarly, none of the cost of acquiring real property held for the production of rental income is considered the cost of goodwill, going concern value, or any other section 197 intangible. 2012 online tax return Section 197 Intangibles Defined The following assets are section 197 intangibles and must be amortized over 180 months: Goodwill; Going concern value; Workforce in place; Business books and records, operating systems, or any other information base, including lists or other information concerning current or prospective customers; A patent, copyright, formula, process, design, pattern, know-how, format, or similar item; A customer-based intangible; A supplier-based intangible; Any item similar to items (3) through (7); A license, permit, or other right granted by a governmental unit or agency (including issuances and renewals); A covenant not to compete entered into in connection with the acquisition of an interest in a trade or business; Any franchise, trademark, or trade name; and A contract for the use of, or a term interest in, any item in this list. 2012 online tax return You cannot amortize any of the intangibles listed in items (1) through (8) that you created rather than acquired unless you created them in acquiring assets that make up a trade or business or a substantial part of a trade or business. 2012 online tax return Goodwill. 2012 online tax return   This is the value of a trade or business based on expected continued customer patronage due to its name, reputation, or any other factor. 2012 online tax return Going concern value. 2012 online tax return   This is the additional value of a trade or business that attaches to property because the property is an integral part of an ongoing business activity. 2012 online tax return It includes value based on the ability of a business to continue to function and generate income even though there is a change in ownership (but does not include any other section 197 intangible). 2012 online tax return It also includes value based on the immediate use or availability of an acquired trade or business, such as the use of earnings during any period in which the business would not otherwise be available or operational. 2012 online tax return Workforce in place, etc. 2012 online tax return   This includes the composition of a workforce (for example, its experience, education, or training). 2012 online tax return It also includes the terms and conditions of employment, whether contractual or otherwise, and any other value placed on employees or any of their attributes. 2012 online tax return   For example, you must amortize the part of the purchase price of a business that is for the existence of a highly skilled workforce. 2012 online tax return Also, you must amortize the cost of acquiring an existing employment contract or relationship with employees or consultants. 2012 online tax return Business books and records, etc. 2012 online tax return   This includes the intangible value of technical manuals, training manuals or programs, data files, and accounting or inventory control systems. 2012 online tax return It also includes the cost of customer lists, subscription lists, insurance expirations, patient or client files, and lists of newspaper, magazine, radio, and television advertisers. 2012 online tax return Patents, copyrights, etc. 2012 online tax return   This includes package design, computer software, and any interest in a film, sound recording, videotape, book, or other similar property, except as discussed later under Assets That Are Not Section 197 Intangibles . 2012 online tax return Customer-based intangible. 2012 online tax return   This is the composition of market, market share, and any other value resulting from the future provision of goods or services because of relationships with customers in the ordinary course of business. 2012 online tax return For example, you must amortize the part of the purchase price of a business that is for the existence of the following intangibles. 2012 online tax return A customer base. 2012 online tax return A circulation base. 2012 online tax return An undeveloped market or market growth. 2012 online tax return Insurance in force. 2012 online tax return A mortgage servicing contract. 2012 online tax return An investment management contract. 2012 online tax return Any other relationship with customers involving the future provision of goods or services. 2012 online tax return   Accounts receivable or other similar rights to income for goods or services provided to customers before the acquisition of a trade or business are not section 197 intangibles. 2012 online tax return Supplier-based intangible. 2012 online tax return   A supplier-based intangible is the value resulting from the future acquisitions, (through contract or other relationships with suppliers in the ordinary course of business) of goods or services that you will sell or use. 2012 online tax return The amount you pay or incur for supplier-based intangibles includes, for example, any portion of the purchase price of an acquired trade or business that is attributable to the existence of a favorable relationship with persons providing distribution services (such as a favorable shelf or display space or a retail outlet), or the existence of favorable supply contracts. 2012 online tax return Do not include any amount required to be paid for the goods or services to honor the terms of the agreement or other relationship. 2012 online tax return Also, see Assets That Are Not Section 197 Intangibles below. 2012 online tax return Government-granted license, permit, etc. 2012 online tax return   This is any right granted by a governmental unit or an agency or instrumentality of a governmental unit. 2012 online tax return For example, you must amortize the capitalized costs of acquiring (including issuing or renewing) a liquor license, a taxicab medallion or license, or a television or radio broadcasting license. 2012 online tax return Covenant not to compete. 2012 online tax return   Section 197 intangibles include a covenant not to compete (or similar arrangement) entered into in connection with the acquisition of an interest in a trade or business, or a substantial portion of a trade or business. 2012 online tax return An interest in a trade or business includes an interest in a partnership or a corporation engaged in a trade or business. 2012 online tax return   An arrangement that requires the former owner to perform services (or to provide property or the use of property) is not similar to a covenant not to compete to the extent the amount paid under the arrangement represents reasonable compensation for those services or for that property or its use. 2012 online tax return Franchise, trademark, or trade name. 2012 online tax return   A franchise, trademark, or trade name is a section 197 intangible. 2012 online tax return You must amortize its purchase or renewal costs, other than certain contingent payments that you can deduct currently. 2012 online tax return For information on currently deductible contingent payments, see chapter 11. 2012 online tax return Professional sports franchise. 2012 online tax return   A franchise engaged in professional sports and any intangible assets acquired in connection with acquiring the franchise (including player contracts) is a section 197 intangible amortizable over a 15-year period. 2012 online tax return Contract for the use of, or a term interest in, a section 197 intangible. 2012 online tax return   Section 197 intangibles include any right under a license, contract, or other arrangement providing for the use of any section 197 intangible. 2012 online tax return It also includes any term interest in any section 197 intangible, whether the interest is outright or in trust. 2012 online tax return Assets That Are Not Section 197 Intangibles The following assets are not section 197 intangibles. 2012 online tax return Any interest in a corporation, partnership, trust, or estate. 2012 online tax return Any interest under an existing futures contract, foreign currency contract, notional principal contract, interest rate swap, or similar financial contract. 2012 online tax return Any interest in land. 2012 online tax return Most computer software. 2012 online tax return (See Computer software , later. 2012 online tax return ) Any of the following assets not acquired in connection with the acquisition of a trade or business or a substantial part of a trade or business. 2012 online tax return An interest in a film, sound recording, video tape, book, or similar property. 2012 online tax return A right to receive tangible property or services under a contract or from a governmental agency. 2012 online tax return An interest in a patent or copyright. 2012 online tax return Certain rights that have a fixed duration or amount. 2012 online tax return (See Rights of fixed duration or amount , later. 2012 online tax return ) An interest under either of the following. 2012 online tax return An existing lease or sublease of tangible property. 2012 online tax return A debt that was in existence when the interest was acquired. 2012 online tax return A right to service residential mortgages unless the right is acquired in connection with the acquisition of a trade or business or a substantial part of a trade or business. 2012 online tax return Certain transaction costs incurred by parties to a corporate organization or reorganization in which any part of a gain or loss is not recognized. 2012 online tax return Intangible property that is not amortizable under the rules for section 197 intangibles can be depreciated if it meets certain requirements. 2012 online tax return You generally must use the straight line method over its useful life. 2012 online tax return For certain intangibles, the depreciation period is specified in the law and regulations. 2012 online tax return For example, the depreciation period for computer software that is not a section 197 intangible is generally 36 months. 2012 online tax return For more information on depreciating intangible property, see Intangible Property under What Method Can You Use To Depreciate Your Property? in chapter 1 of Publication 946. 2012 online tax return Computer software. 2012 online tax return   Section 197 intangibles do not include the following types of computer software. 2012 online tax return Software that meets all the following requirements. 2012 online tax return It is, or has been, readily available for purchase by the general public. 2012 online tax return It is subject to a nonexclusive license. 2012 online tax return It has not been substantially modified. 2012 online tax return This requirement is considered met if the cost of all modifications is not more than the greater of 25% of the price of the publicly available unmodified software or $2,000. 2012 online tax return Software that is not acquired in connection with the acquisition of a trade or business or a substantial part of a trade or business. 2012 online tax return Computer software defined. 2012 online tax return   Computer software includes all programs designed to cause a computer to perform a desired function. 2012 online tax return It also includes any database or similar item that is in the public domain and is incidental to the operation of qualifying software. 2012 online tax return Rights of fixed duration or amount. 2012 online tax return   Section 197 intangibles do not include any right under a contract or from a governmental agency if the right is acquired in the ordinary course of a trade or business (or in an activity engaged in for the production of income) but not as part of a purchase of a trade or business and either: Has a fixed life of less than 15 years, or Is of a fixed amount that, except for the rules for section 197 intangibles, would be recovered under a method similar to the unit-of-production method of cost recovery. 2012 online tax return However, this does not apply to the following intangibles. 2012 online tax return Goodwill. 2012 online tax return Going concern value. 2012 online tax return A covenant not to compete. 2012 online tax return A franchise, trademark, or trade name. 2012 online tax return A customer-related information base, customer-based intangible, or similar item. 2012 online tax return Safe Harbor for Creative Property Costs If you are engaged in the trade or business of film production, you may be able to amortize the creative property costs for properties not set for production within 3 years of the first capitalized transaction. 2012 online tax return You may amortize these costs ratably over a 15-year period beginning on the first day of the second half of the tax year in which you properly write off the costs for financial accounting purposes. 2012 online tax return If, during the 15-year period, you dispose of the creative property rights, you must continue to amortize the costs over the remainder of the 15-year period. 2012 online tax return Creative property costs include costs paid or incurred to acquire and develop screenplays, scripts, story outlines, motion picture production rights to books and plays, and other similar properties for purposes of potential future film development, production, and exploitation. 2012 online tax return Amortize these costs using the rules of Revenue Procedure 2004-36. 2012 online tax return For more information, see Revenue Procedure 2004-36, 2004-24 I. 2012 online tax return R. 2012 online tax return B. 2012 online tax return 1063, available at  www. 2012 online tax return irs. 2012 online tax return gov/irb/2004-24_IRB/ar16. 2012 online tax return html. 2012 online tax return A change in the treatment of creative property costs is a change in method of accounting. 2012 online tax return Anti-Churning Rules Anti-churning rules prevent you from amortizing most section 197 intangibles if the transaction in which you acquired them did not result in a significant change in ownership or use. 2012 online tax return These rules apply to goodwill and going concern value, and to any other section 197 intangible that is not otherwise depreciable or amortizable. 2012 online tax return Under the anti-churning rules, you cannot use 15-year amortization for the intangible if any of the following conditions apply. 2012 online tax return You or a related person (defined later) held or used the intangible at any time from July 25, 1991, through August 10, 1993. 2012 online tax return You acquired the intangible from a person who held it at any time during the period in (1) and, as part of the transaction, the user did not change. 2012 online tax return You granted the right to use the intangible to a person (or a person related to that person) who held or used it at any time during the period in (1). 2012 online tax return This applies only if the transaction in which you granted the right and the transaction in which you acquired the intangible are part of a series of related transactions. 2012 online tax return See Related person , later, for more information. 2012 online tax return Exceptions. 2012 online tax return   The anti-churning rules do not apply in the following situations. 2012 online tax return You acquired the intangible from a decedent and its basis was stepped up to its fair market value. 2012 online tax return The intangible was amortizable as a section 197 intangible by the seller or transferor you acquired it from. 2012 online tax return This exception does not apply if the transaction in which you acquired the intangible and the transaction in which the seller or transferor acquired it are part of a series of related transactions. 2012 online tax return The gain-recognition exception, discussed later, applies. 2012 online tax return Related person. 2012 online tax return   For purposes of the anti-churning rules, the following are related persons. 2012 online tax return An individual and his or her brothers, sisters, half-brothers, half-sisters, spouse, ancestors (parents, grandparents, etc. 2012 online tax return ), and lineal descendants (children, grandchildren, etc. 2012 online tax return ). 2012 online tax return A corporation and an individual who owns, directly or indirectly, more than 20% of the value of the corporation's outstanding stock. 2012 online tax return Two corporations that are members of the same controlled group as defined in section 1563(a) of the Internal Revenue Code, except that “more than 20%” is substituted for “at least 80%” in that definition and the determination is made without regard to subsections (a)(4) and (e)(3)(C) of section 1563. 2012 online tax return (For an exception, see section 1. 2012 online tax return 197-2(h)(6)(iv) of the regulations. 2012 online tax return ) A trust fiduciary and a corporation if more than 20% of the value of the corporation's outstanding stock is owned, directly or indirectly, by or for the trust or grantor of the trust. 2012 online tax return The grantor and fiduciary, and the fiduciary and beneficiary, of any trust. 2012 online tax return The fiduciaries of two different trusts, and the fiduciaries and beneficiaries of two different trusts, if the same person is the grantor of both trusts. 2012 online tax return The executor and beneficiary of an estate. 2012 online tax return A tax-exempt educational or charitable organization and a person who directly or indirectly controls the organization (or whose family members control it). 2012 online tax return A corporation and a partnership if the same persons own more than 20% of the value of the outstanding stock of the corporation and more than 20% of the capital or profits interest in the partnership. 2012 online tax return Two S corporations, and an S corporation and a regular corporation, if the same persons own more than 20% of the value of the outstanding stock of each corporation. 2012 online tax return Two partnerships if the same persons own, directly or indirectly, more than 20% of the capital or profits interests in both partnerships. 2012 online tax return A partnership and a person who owns, directly or indirectly, more than 20% of the capital or profits interests in the partnership. 2012 online tax return Two persons who are engaged in trades or businesses under common control (as described in section 41(f)(1) of the Internal Revenue Code). 2012 online tax return When to determine relationship. 2012 online tax return   Persons are treated as related if the relationship existed at the following time. 2012 online tax return In the case of a single transaction, immediately before or immediately after the transaction in which the intangible was acquired. 2012 online tax return In the case of a series of related transactions (or a series of transactions that comprise a qualified stock purchase under section 338(d)(3) of the Internal Revenue Code), immediately before the earliest transaction or immediately after the last transaction. 2012 online tax return Ownership of stock. 2012 online tax return   In determining whether an individual directly or indirectly owns any of the outstanding stock of a corporation, the following rules apply. 2012 online tax return Rule 1. 2012 online tax return   Stock directly or indirectly owned by or for a corporation, partnership, estate, or trust is considered owned proportionately by or for its shareholders, partners, or beneficiaries. 2012 online tax return Rule 2. 2012 online tax return   An individual is considered to own the stock directly or indirectly owned by or for his or her family. 2012 online tax return Family includes only brothers and sisters, half-brothers and half-sisters, spouse, ancestors, and lineal descendants. 2012 online tax return Rule 3. 2012 online tax return   An individual owning (other than by applying Rule 2) any stock in a corporation is considered to own the stock directly or indirectly owned by or for his or her partner. 2012 online tax return Rule 4. 2012 online tax return   For purposes of applying Rule 1, 2, or 3, treat stock constructively owned by a person under Rule 1 as actually owned by that person. 2012 online tax return Do not treat stock constructively owned by an individual under Rule 2 or 3 as owned by the individual for reapplying Rule 2 or 3 to make another person the constructive owner of the stock. 2012 online tax return Gain-recognition exception. 2012 online tax return   This exception to the anti-churning rules applies if the person you acquired the intangible from (the transferor) meets both of the following requirements. 2012 online tax return That person would not be related to you (as described under Related person , earlier) if the 20% test for ownership of stock and partnership interests were replaced by a 50% test. 2012 online tax return That person chose to recognize gain on the disposition of the intangible and pay income tax on the gain at the highest tax rate. 2012 online tax return See chapter 2 in Publication 544 for information on making this choice. 2012 online tax return   If this exception applies, the anti-churning rules apply only to the amount of your adjusted basis in the intangible that is more than the gain recognized by the transferor. 2012 online tax return Notification. 2012 online tax return   If the person you acquired the intangible from chooses to recognize gain under the rules for this exception, that person must notify you in writing by the due date of the return on which the choice is made. 2012 online tax return Anti-abuse rule. 2012 online tax return   You cannot amortize any section 197 intangible acquired in a transaction for which the principal purpose was either of the following. 2012 online tax return To avoid the requirement that the intangible be acquired after August 10, 1993. 2012 online tax return To avoid any of the anti-churning rules. 2012 online tax return More information. 2012 online tax return   For more information about the anti-churning rules, including additional rules for partnerships, see Regulations section 1. 2012 online tax return 197-2(h). 2012 online tax return Incorrect Amount of Amortization Deducted If you later discover that you deducted an incorrect amount for amortization for a section 197 intangible in any year, you may be able to make a correction for that year by filing an amended return. 2012 online tax return See Amended Return , next. 2012 online tax return If you are not allowed to make the correction on an amended return, you can change your accounting method to claim the correct amortization. 2012 online tax return See Changing Your Accounting Method , later. 2012 online tax return Amended Return If you deducted an incorrect amount for amortization, you can file an amended return to correct the following. 2012 online tax return A mathematical error made in any year. 2012 online tax return A posting error made in any year. 2012 online tax return An amortization deduction for a section 197 intangible for which you have not adopted a method of accounting. 2012 online tax return When to file. 2012 online tax return   If an amended return is allowed, you must file it by the later of the following dates. 2012 online tax return 3 years from the date you filed your original return for the year in which you did not deduct the correct amount. 2012 online tax return (A return filed early is considered filed on the due date. 2012 online tax return ) 2 years from the time you paid your tax for that year. 2012 online tax return Changing Your Accounting Method Generally, you must get IRS approval to change your method of accounting. 2012 online tax return File Form 3115, Application for Change in Accounting Method, to request a change to a permissible method of accounting for amortization. 2012 online tax return The following are examples of a change in method of accounting for amortization. 2012 online tax return A change in the amortization method, period of recovery, or convention of an amortizable asset. 2012 online tax return A change in the accounting for amortizable assets from a single asset account to a multiple asset account (pooling), or vice versa. 2012 online tax return A change in the accounting for amortizable assets from one type of multiple asset account to a different type of multiple asset account. 2012 online tax return Changes in amortization that are not a change in method of accounting include the following: A change in computing amortization in the tax year in which your use of the asset changes. 2012 online tax return An adjustment in the useful life of an amortizable asset. 2012 online tax return Generally, the making of a late amortization election or the revocation of a timely valid amortization election. 2012 online tax return Any change in the placed-in-service date of an amortizable asset. 2012 online tax return See Regulations section 1. 2012 online tax return 446-1(e)(2)(ii)(a) for more information and examples. 2012 online tax return Automatic approval. 2012 online tax return   In some instances, you may be able to get automatic approval from the IRS to change your method of accounting for amortization. 2012 online tax return For a list of automatic accounting method changes, see the Instructions for Form 3115. 2012 online tax return Also see the Instructions for Form 3115 for more information on getting approval, automatic approval procedures, and a list of exceptions to the automatic approval process. 2012 online tax return For more information, see Revenue Procedure 2006-12, as modified by Revenue Procedure 2006-37, and Revenue Procedure 2008-52, as amplified, clarified, and modified by Revenue Procedure 2009-39, as clarified and modified by Revenue Procedure 2011-14, as modified and amplified by Revenue Procedure 2011-22, as modified by Revenue Procedure 2012-39, or any successor. 2012 online tax return See Revenue Procedure 2006-12, 2006-3 I. 2012 online tax return R. 2012 online tax return B. 2012 online tax return 310, available at  www. 2012 online tax return irs. 2012 online tax return gov/irb/2006-03_IRB/ar14. 2012 online tax return html. 2012 online tax return  See Revenue Procedure 2006-37, 2006-38 I. 2012 online tax return R. 2012 online tax return B. 2012 online tax return 499, available at  www. 2012 online tax return irs. 2012 online tax return gov/irb/2006-38_IRB/ar10. 2012 online tax return html. 2012 online tax return  See Revenue Procedure 2008-52, 2008-36 I. 2012 online tax return R. 2012 online tax return B. 2012 online tax return 587, available at www. 2012 online tax return irs. 2012 online tax return gov/irb/2008-36_IRB/ar09. 2012 online tax return html. 2012 online tax return  See Revenue Procedure 2009-39, 2009-38 I. 2012 online tax return R. 2012 online tax return B. 2012 online tax return 371, available at  www. 2012 online tax return irs. 2012 online tax return gov/irb/2009-38_IRB/ar08. 2012 online tax return html. 2012 online tax return  See Revenue Procedure 2011-14, 2011-4 I. 2012 online tax return R. 2012 online tax return B. 2012 online tax return 330, available at  www. 2012 online tax return irs. 2012 online tax return gov/irb/2011-04_IRB/ar08. 2012 online tax return html. 2012 online tax return  See Revenue Procedure 2011-22, 2011-18 I. 2012 online tax return R. 2012 online tax return B. 2012 online tax return 737, available at  www. 2012 online tax return irs. 2012 online tax return gov/irb/2011-18_IRB/ar08. 2012 online tax return html. 2012 online tax return Also, see Revenue Procedure 2012-39, 2012-41 I. 2012 online tax return R. 2012 online tax return B. 2012 online tax return 470 available at www. 2012 online tax return irs. 2012 online tax return gov/irb/2012-41_IRB/index. 2012 online tax return html. 2012 online tax return Disposition of Section 197 Intangibles A section 197 intangible is treated as depreciable property used in your trade or business. 2012 online tax return If you held the intangible for more than 1 year, any gain on its disposition, up to the amount of allowable amortization, is ordinary income (section 1245 gain). 2012 online tax return If multiple section 197 intangibles are disposed of in a single transaction or a series of related transactions, treat all of the section 197 intangibles as if they were a single asset for purposes of determining the amount of gain that is ordinary income. 2012 online tax return Any remaining gain, or any loss, is a section 1231 gain or loss. 2012 online tax return If you held the intangible 1 year or less, any gain or loss on its disposition is an ordinary gain or loss. 2012 online tax return For more information on ordinary or capital gain or loss on business property, see chapter 3 in Publication 544. 2012 online tax return Nondeductible loss. 2012 online tax return   You cannot deduct any loss on the disposition or worthlessness of a section 197 intangible that you acquired in the same transaction (or series of related transactions) as other section 197 intangibles you still have. 2012 online tax return Instead, increase the adjusted basis of each remaining amortizable section 197 intangible by a proportionate part of the nondeductible loss. 2012 online tax return Figure the increase by multiplying the nondeductible loss on the disposition of the intangible by the following fraction. 2012 online tax return The numerator is the adjusted basis of each remaining intangible on the date of the disposition. 2012 online tax return The denominator is the total adjusted bases of all remaining amortizable section 197 intangibles on the date of the disposition. 2012 online tax return Covenant not to compete. 2012 online tax return   A covenant not to compete, or similar arrangement, is not considered disposed of or worthless before you dispose of your entire interest in the trade or business for which you entered into the covenant. 2012 online tax return Nonrecognition transfers. 2012 online tax return   If you acquire a section 197 intangible in a nonrecognition transfer, you are treated as the transferor with respect to the part of your adjusted basis in the intangible that is not more than the transferor's adjusted basis. 2012 online tax return You amortize this part of the adjusted basis over the intangible's remaining amortization period in the hands of the transferor. 2012 online tax return Nonrecognition transfers include transfers to a corporation, partnership contributions and distributions, like-kind exchanges, and involuntary conversions. 2012 online tax return   In a like-kind exchange or involuntary conversion of a section 197 intangible, you must continue to amortize the part of your adjusted basis in the acquired intangible that is not more than your adjusted basis in the exchanged or converted intangible over the remaining amortization period of the exchanged or converted intangible. 2012 online tax return Amortize over a new 15-year period the part of your adjusted basis in the acquired intangible that is more than your adjusted basis in the exchanged or converted intangible. 2012 online tax return Example. 2012 online tax return You own a section 197 intangible you have amortized for 4 full years. 2012 online tax return It has a remaining unamortized basis of $30,000. 2012 online tax return You exchange the asset plus $10,000 for a like-kind section 197 intangible. 2012 online tax return The nonrecognition provisions of like-kind exchanges apply. 2012 online tax return You amortize $30,000 of the $40,000 adjusted basis of the acquired intangible over the 11 years remaining in the original 15-year amortization period for the transferred asset. 2012 online tax return You amortize the other $10,000 of adjusted basis over a new 15-year period. 2012 online tax return For more information, see Regulations section 1. 2012 online tax return 197-2(g). 2012 online tax return Reforestation Costs You can elect to deduct a limited amount of reforestation costs paid or incurred during the tax year. 2012 online tax return See Reforestation Costs in chapter 7. 2012 online tax return You can elect to amortize the qualifying costs that are not deducted currently over an 84-month period. 2012 online tax return There is no limit on the amount of your amortization deduction for reforestation costs paid or incurred during the tax year. 2012 online tax return The election to amortize reforestation costs incurred by a partnership, S corporation, or estate must be made by the partnership, corporation, or estate. 2012 online tax return A partner, shareholder, or beneficiary cannot make that election. 2012 online tax return A partner's or shareholder's share of amortizable costs is figured under the general rules for allocating items of income, loss, deduction, etc. 2012 online tax return , of a partnership or S corporation. 2012 online tax return The amortizable costs of an estate are divided between the estate and the income beneficiary based on the income of the estate allocable to each. 2012 online tax return Qualifying costs. 2012 online tax return   Reforestation costs are the direct costs of planting or seeding for forestation or reforestation. 2012 online tax return Qualifying costs include only those costs you must capitalize and include in the adjusted basis of the property. 2012 online tax return They include costs for the following items. 2012 online tax return Site preparation. 2012 online tax return Seeds or seedlings. 2012 online tax return Labor. 2012 online tax return Tools. 2012 online tax return Depreciation on equipment used in planting and seeding. 2012 online tax return Qualifying costs do not include costs for which the government reimburses you under a cost-sharing program, unless you include the reimbursement in your income. 2012 online tax return Qualified timber property. 2012 online tax return   Qualified timber property is property that contains trees in significant commercial quantities. 2012 online tax return It can be a woodlot or other site that you own or lease. 2012 online tax return The property qualifies only if it meets all of the following requirements. 2012 online tax return It is located in the United States. 2012 online tax return It is held for the growing and cutting of timber you will either use in, or sell for use in, the commercial production of timber products. 2012 online tax return It consists of at least one acre planted with tree seedlings in the manner normally used in forestation or reforestation. 2012 online tax return Qualified timber property does not include property on which you have planted shelter belts or ornamental trees, such as Christmas trees. 2012 online tax return Amortization period. 2012 online tax return   The 84-month amortization period starts on the first day of the first month of the second half of the tax year you incur the costs (July 1 for a calendar year taxpayer), regardless of the month you actually incur the costs. 2012 online tax return You can claim amortization deductions for no more than 6 months of the first and last (eighth) tax years of the period. 2012 online tax return Life tenant and remainderman. 2012 online tax return   If one person holds the property for life with the remainder going to another person, the life tenant is entitled to the full amortization for qualifying reforestation costs incurred by the life tenant. 2012 online tax return Any remainder interest in the property is ignored for amortization purposes. 2012 online tax return Recapture. 2012 online tax return   If you dispose of qualified timber property within 10 years after the tax year you incur qualifying reforestation expenses, report any gain as ordinary income up to the amortization you took. 2012 online tax return See chapter 3 of Publication 544 for more information. 2012 online tax return How to make the election. 2012 online tax return   To elect to amortize qualifying reforestation costs, complete Part VI of Form 4562 and attach a statement that contains the following information. 2012 online tax return A description of the costs and the dates you incurred them. 2012 online tax return A description of the type of timber being grown and the purpose for which it is grown. 2012 online tax return Attach a separate statement for each property for which you amortize reforestation costs. 2012 online tax return   Generally, you must make the election on a timely filed return (including extensions) for the tax year in which you incurred the costs. 2012 online tax return However, if you timely filed your return for the year without making the election, you can still make the election by filing an amended return within 6 months of the due date of the return (excluding extensions). 2012 online tax return Attach Form 4562 and the statement to the amended return and write “Filed pursuant to section 301. 2012 online tax return 9100-2” on Form 4562. 2012 online tax return File the amended return at the same address you filed the original return. 2012 online tax return Revoking the election. 2012 online tax return   You must get IRS approval to revoke your election to amortize qualifying reforestation costs. 2012 online tax return Your application to revoke the election must include your name, address, the years for which your election was in effect, and your reason for revoking it. 2012 online tax return Please provide your daytime telephone number (optional), in case we need to contact you. 2012 online tax return You, or your duly authorized representative, must sign the application and file it at least 90 days before the due date (without extensions) for filing your income tax return for the first tax year for which your election is to end. 2012 online tax return    Send the application to: Internal Revenue Service Associate Chief Counsel Passthroughs and Special Industries CC:PSI:6 1111 Constitution Ave. 2012 online tax return NW, IR-5300 Washington, DC 20224 Geological and Geophysical Costs You can amortize the cost of geological and geophysical expenses paid or incurred in connection with oil and gas exploration or development within the United States. 2012 online tax return These costs can be amortized ratably over a 24-month period beginning on the mid-point of the tax year in which the expenses were paid or incurred. 2012 online tax return For major integrated oil companies (as defined in section 167(h)(5)), these costs must be amortized ratably over a 5-year period for costs paid or incurred after May 17, 2006 (a 7-year period for costs paid or incurred after December 19, 2007). 2012 online tax return If you retire or abandon the property during the amortization period, no amortization deduction is allowed in the year of retirement or abandonment. 2012 online tax return Pollution Control Facilities You can elect to amortize the cost of a certified pollution control facility over 60 months. 2012 online tax return However, see Atmospheric pollution control facilities for an exception. 2012 online tax return The cost of a pollution control facility that is not eligible for amortization can be depreciated under the regular rules for depreciation. 2012 online tax return Also, you can claim a special depreciation allowance on a certified pollution control facility that is qualified property even if you elect to amortize its cost. 2012 online tax return You must reduce its cost (amortizable basis) by the amount of any special allowance you claim. 2012 online tax return See chapter 3 of Publication 946. 2012 online tax return A certified pollution control facility is a new identifiable treatment facility used in connection with a plant or other property in operation before 1976, to reduce or control water or atmospheric pollution or contamination. 2012 online tax return The facility must do so by removing, changing, disposing, storing, or preventing the creation or emission of pollutants, contaminants, wastes, or heat. 2012 online tax return The facility must be certified by state and federal certifying authorities. 2012 online tax return The facility must not significantly increase the output or capacity, extend the useful life, or reduce the total operating costs of the plant or other property. 2012 online tax return Also, it must not significantly change the nature of the manufacturing or production process or facility. 2012 online tax return The federal certifying authority will not certify your property to the extent it appears you will recover (over the property's useful life) all or part of its cost from the profit based on its operation (such as through sales of recovered wastes). 2012 online tax return The federal certifying authority will describe the nature of the potential cost recovery. 2012 online tax return You must then reduce the amortizable basis of the facility by this potential recovery. 2012 online tax return New identifiable treatment facility. 2012 online tax return   A new identifiable treatment facility is tangible depreciable property that is identifiable as a treatment facility. 2012 online tax return It does not include a building and its structural components unless the building is exclusively a treatment facility. 2012 online tax return Atmospheric pollution control facilities. 2012 online tax return   Certain atmospheric pollution control facilities can be amortized over 84 months. 2012 online tax return To qualify, the following must apply. 2012 online tax return The facility must be acquired and placed in service after April 11, 2005. 2012 online tax return If acquired, the original use must begin with you after April 11, 2005. 2012 online tax return The facility must be used in connection with an electric generation plant or other property placed in operation after December 31, 1975, that is primarily coal fired. 2012 online tax return If you construct, reconstruct, or erect the facility, only the basis attributable to the construction, reconstruction, or erection completed after April 11, 2005, qualifies. 2012 online tax return Basis reduction for corporations. 2012 online tax return   A corporation must reduce the amortizable basis of a pollution control facility by 20% before figuring the amortization deduction. 2012 online tax return More information. 2012 online tax return   For more information on the amortization of pollution control facilities, see Code sections 169 and 291(c) and the related regulations. 2012 online tax return Research and Experimental Costs You can elect to amortize your research and experimental costs, deduct them as current business expenses, or write them off over a 10-year period (see Optional write-off method below). 2012 online tax return If you elect to amortize these costs, deduct them in equal amounts over 60 months or more. 2012 online tax return The amortization period begins the month you first receive an economic benefit from the costs. 2012 online tax return For a definition of “research and experimental costs” and information on deducting them as current business expenses, see chapter 7. 2012 online tax return Optional write-off method. 2012 online tax return   Rather than amortize these costs or deduct them as a current expense, you have the option of deducting (writing off) research and experimental costs ratably over a 10-year period beginning with the tax year in which you incurred the costs. 2012 online tax return For more information, see Optional Write-off of Certain Tax Preferences , later, and section 59(e) of the Internal Revenue Code. 2012 online tax return Costs you can amortize. 2012 online tax return   You can amortize costs chargeable to a capital account (see chapter 1) if you meet both of the following requirements. 2012 online tax return You paid or incurred the costs in your trade or business. 2012 online tax return You are not deducting the costs currently. 2012 online tax return How to make the election. 2012 online tax return   To elect to amortize research and experimental costs, complete Part VI of Form 4562 and attach it to your income tax return. 2012 online tax return Generally, you must file the return by the due date (including extensions). 2012 online tax return However, if you timely filed your return for the year without making the election, you can still make the election by filing an amended return within 6 months of the due date of the return (excluding extensions). 2012 online tax return Attach Form 4562 to the amended return and write “Filed pursuant to section 301. 2012 online tax return 9100-2” on Form 4562. 2012 online tax return File the amended return at the same address you filed the original return. 2012 online tax return   Your election is binding for the year it is made and for all later years unless you obtain approval from the IRS to change to a different method. 2012 online tax return Optional Write-off of Certain Tax Preferences You can elect to amortize certain tax preference items over an optional period beginning in the tax year in which you incurred the costs. 2012 online tax return If you make this election, there is no AMT adjustment. 2012 online tax return The applicable costs and the optional recovery periods are as follows: Circulation costs — 3 years, Intangible drilling and development costs — 60 months, Mining exploration and development costs — 10 years, and Research and experimental costs — 10 years. 2012 online tax return How to make the election. 2012 online tax return   To elect to amortize qualifying costs over the optional recovery period, complete Part VI of Form 4562 and attach a statement containing the following information to your return for the tax year in which the election begins: Your name, address, and taxpayer identification number; and The type of cost and the specific amount of the cost for which you are making the election. 2012 online tax return   Generally, the election must be made on a timely filed return (including extensions) for the tax year in which you incurred the costs. 2012 online tax return However, if you timely filed your return for the year without making the election, you can still make the election by filing an amended return within 6 months of the due date of the return (excluding extensions). 2012 online tax return Attach Form 4562 to the amended return and write “Filed pursuant to section 301. 2012 online tax return 9100-2” on Form 4562. 2012 online tax return File the amended return at the same address you filed the original return. 2012 online tax return Revoking the election. 2012 online tax return   You must obtain consent from the IRS to revoke your election. 2012 online tax return Your request to revoke the election must be submitted to the IRS in the form of a letter ruling before the end of the tax year in which the optional recovery period ends. 2012 online tax return The request must contain all of the information necessary to demonstrate the rare and unusual circumstances that would justify granting revocation. 2012 online tax return If the request for revocation is approved, any unamortized costs are deductible in the year the revocation is effective. 2012 online tax return Prev  Up  Next   Home   More Online Publications
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The 2012 Online Tax Return

2012 online tax return Index A Affiliated corporations, Aircraft used by affiliated corporations. 2012 online tax return Agri-biodiesel, defined, Agri-biodiesel. 2012 online tax return Air transportation taxes, Air Transportation Taxes 225-mile-zone rule, Taxable transportation. 2012 online tax return Alaska, Transportation between the continental U. 2012 online tax return S. 2012 online tax return and Alaska or Hawaii. 2012 online tax return , Transportation within Alaska or Hawaii. 2012 online tax return , Alaska and Hawaii. 2012 online tax return Baggage, Excess baggage. 2012 online tax return Bonus tickets, Bonus tickets. 2012 online tax return Credits or refunds, Credits or refunds. 2012 online tax return Exemptions, Exemptions. 2012 online tax return Export, Exportation. 2012 online tax return Fixed-wing aircraft, Fixed-wing aircraft uses. 2012 online tax return Hawaii, Transportation between the continental U. 2012 online tax return S. 2012 online tax return and Alaska or Hawaii. 2012 online tax return , Transportation within Alaska or Hawaii. 2012 online tax return , Alaska and Hawaii. 2012 online tax return Helicopters, Certain helicopter uses. 2012 online tax return , Transportation of Property by Air International air travel facilities, International Air Travel Facilities Military personnel, Military personnel on international trips. 2012 online tax return Package tours, Package tours. 2012 online tax return Persons by air, Transportation of Persons by Air Persons liable, Liability for tax. 2012 online tax return , Liability for tax. 2012 online tax return Property by air, Transportation of Property by Air Tax rates, Transportation of Persons by Air Taxable transportation, Taxable transportation. 2012 online tax return Travel agency, Liability for tax. 2012 online tax return Uninterrupted international, Uninterrupted international air transportation. 2012 online tax return Aircraft, Fixed-wing aircraft uses. 2012 online tax return Affiliated corporations, Aircraft used by affiliated corporations. 2012 online tax return Small planes, Small aircraft. 2012 online tax return Aircraft museum, In an aircraft or vehicle owned by an aircraft museum (No. 2012 online tax return 15). 2012 online tax return Alaska Air transportation taxes, Transportation between the continental U. 2012 online tax return S. 2012 online tax return and Alaska or Hawaii. 2012 online tax return Tax on diesel fuel or kerosene, Removal for sale or use in Alaska. 2012 online tax return Alcohol and tobacco taxes, Excise Taxes Not Covered Alternative fuel credit, Alternative fuel credit. 2012 online tax return Alternative fuel, defined, Other fuels. 2012 online tax return American Red Cross, International organizations and the American Red Cross. 2012 online tax return Answering service, Answering services. 2012 online tax return Appeal procedures, Examination and Appeal Procedures Approved refinery, defined, Approved terminal or refinery. 2012 online tax return Approved terminal, defined, Approved terminal or refinery. 2012 online tax return Arrow shafts, Arrow Shafts Assistance (see Tax help) Aviation gasoline, defined, Aviation gasoline. 2012 online tax return B Back-up tax, Back-up Tax Biodiesel, defined, Biodiesel. 2012 online tax return Blended taxable fuel, defined, Blended taxable fuel. 2012 online tax return Blender, defined, Blender. 2012 online tax return Blocked pump, Blocked pump. 2012 online tax return Blood collector organizations, qualified, Exclusive use by a qualified blood collector organization (No. 2012 online tax return 11). 2012 online tax return , Qualified blood collector organizations. 2012 online tax return Boats, In a boat engaged in commercial fishing (No. 2012 online tax return 4). 2012 online tax return Bonus tickets, Bonus tickets. 2012 online tax return Bows, Quivers, Broadheads, and Points, Bows, Quivers, Broadheads, and Points Bulk transfer, defined, Bulk transfer. 2012 online tax return Bulk transfer/terminal system, defined, Bulk transfer/terminal system. 2012 online tax return Buses, In certain intercity and local buses (No. 2012 online tax return 5). 2012 online tax return , In a qualified local bus (No. 2012 online tax return 6). 2012 online tax return , In a school bus (No. 2012 online tax return 7). 2012 online tax return Tire tax, Qualifying intercity or local bus. 2012 online tax return C Cellulosic biofuel, Cellulosic biofuel. 2012 online tax return Chemicals, ozone-depleting, Environmental Taxes Claims Claiming a credit, Claiming a Credit on Form 4136 Claiming a refund, Claiming A Refund Filing claims, Filing Claims Coal Blending, Blending. 2012 online tax return Exemptions, Exemption from tax. 2012 online tax return Producer, Coal Production, Coal production. 2012 online tax return Selling price, Determining tonnage or selling price. 2012 online tax return Tax rates, Tax rates. 2012 online tax return Coin-operated telephones, Coin-operated telephones. 2012 online tax return Comments, Comments and suggestions. 2012 online tax return Commercial aviation, In commercial aviation (other than foreign trade). 2012 online tax return Commercial fishing, In a boat engaged in commercial fishing (No. 2012 online tax return 4). 2012 online tax return Commercial waterway transportation, Commercial waterway transportation. 2012 online tax return Communications taxes Credits or refunds, Credits or Refunds Exemptions, Exemptions Figuring the tax, Figuring the tax. 2012 online tax return Local telephone service, Local telephone service. 2012 online tax return Local-only service, Local-only service. 2012 online tax return Private communication service, Private communication service. 2012 online tax return Teletypewriter exchange service, Teletypewriter exchange service. 2012 online tax return Credit card purchases Aviation gasoline, Credit card purchases. 2012 online tax return Gasoline, Credit card purchases. 2012 online tax return Kerosene for use in aviation, Credit card purchases. 2012 online tax return Undyed diesel fuel, Credit Card Purchases. 2012 online tax return Undyed kerosene, Credit Card Purchases. 2012 online tax return Credit or refund Gas guzzler tax, Credit or refund. 2012 online tax return Manufacturers taxes, Credits or Refunds Resale of tax-paid semitrailers, Tax on resale of tax-paid trailers and semitrailers. 2012 online tax return Retail tax, Credits or refunds. 2012 online tax return Tire tax, Credit or refund. 2012 online tax return Vaccines, Credit or refund. 2012 online tax return Credits, Claiming a Credit on Form 4136 D Deposits Net tax liability, Amount of Deposits Deposits, How to make, How To Make Deposits Diesel fuel Definitions, Diesel Fuel and Kerosene Exported, Diesel Fuel and Kerosene Diesel-water fuel emulsion, defined, Diesel-water fuel emulsion. 2012 online tax return Dyed diesel fuel, Dyed Diesel Fuel and Dyed Kerosene Dyed kerosene, Dyed Diesel Fuel and Dyed Kerosene E Electric outboard motors, Electric outboard boat motors. 2012 online tax return Enterer, defined, Enterer. 2012 online tax return Entry, defined, Entry. 2012 online tax return Environmental taxes Credit or refund, Credits or refunds. 2012 online tax return Exceptions, Exceptions. 2012 online tax return Ozone-depleting chemicals (ODCs), Environmental Taxes United States (defined), Environmental Taxes Examination procedures, Examination and Appeal Procedures Excluded liquid, Diesel Fuel and Kerosene Exempt articles, retail tax, Articles exempt from tax. 2012 online tax return Exempt communication services American Red Cross, International organizations and the American Red Cross. 2012 online tax return Answering service, Answering services. 2012 online tax return Coin-operated telephones, Coin-operated telephones. 2012 online tax return Installation charges, Installation charges. 2012 online tax return International organizations, International organizations and the American Red Cross. 2012 online tax return Mobile radio telephone service, Mobile radio telephone service. 2012 online tax return News services, News services. 2012 online tax return Nonprofit educational organizations, Nonprofit educational organizations. 2012 online tax return Nonprofit hospitals, Nonprofit hospitals. 2012 online tax return Private communication service, Private communication service. 2012 online tax return Qualified blood collector organizations, Qualified blood collector organizations. 2012 online tax return Radio broadcasts, News services. 2012 online tax return Security systems, Telephone-operated security systems. 2012 online tax return Exempt sales, heavy trucks, Sales exempt from tax. 2012 online tax return Exemptions Air transportation taxes, Exemptions. 2012 online tax return Bonus tickets, Bonus tickets. 2012 online tax return Coal, Exemption from tax. 2012 online tax return Communications taxes, Exemptions Federal government, Federal, state, and local government. 2012 online tax return Fixed-wing aircraft, Fixed-wing aircraft uses. 2012 online tax return For export, Exemptions Further manufacturing, Exemptions Helicopters, Certain helicopter uses. 2012 online tax return Indian handicrafts, Exemptions Indian tribal governments, Federal, state, and local government. 2012 online tax return Military personnel, Military personnel on international trips. 2012 online tax return Nonprofit educational organizations, Federal, state, and local government. 2012 online tax return , Exemptions Qualified blood collector organizations, Exemptions State and local governments, Federal, state, and local government. 2012 online tax return , Exemptions Taxable tires, Tires exempt from tax. 2012 online tax return Vessel supplies, Exemptions Export, Export (No. 2012 online tax return 3). 2012 online tax return Exported taxable fuel, Exported taxable fuel. 2012 online tax return F Farming, On a farm for farming purposes (No. 2012 online tax return 1). 2012 online tax return Federal government, Federal, state, and local government. 2012 online tax return Fishing, In a boat engaged in commercial fishing (No. 2012 online tax return 4). 2012 online tax return Fishing rods and fishing poles. 2012 online tax return , Fishing rods and fishing poles. 2012 online tax return Fishing tackle boxes, Fishing tackle boxes. 2012 online tax return Fixed-wing aircraft, Fixed-wing aircraft uses. 2012 online tax return Floor stocks tax Ozone-depleting chemicals, Floor Stocks Tax Floor stocks, ODCs, Environmental Taxes Foreign trade, In foreign trade (No. 2012 online tax return 9). 2012 online tax return Form 1363, Exportation. 2012 online tax return 4136, Claiming a Credit on Form 4136 6197, Gas Guzzler Tax, Form 6197. 2012 online tax return , Attachments to Form 720. 2012 online tax return 637, Reminders 6627, Environmental Taxes, Attachments to Form 720. 2012 online tax return 720, Claiming A Refund, Form 6197. 2012 online tax return , Filing Form 720 720X, Form 720X. 2012 online tax return 8849, Claiming A Refund 8864, Biodiesel Sold as But Not Used as Fuel Form 720 Attachments, Attachments to Form 720. 2012 online tax return Due dates, Due dates. 2012 online tax return Final return, Final return. 2012 online tax return Schedule A, Filing Form 720 Schedule C, Filing Form 720 Schedule T, Filing Form 720 Free tax services, How To Get Tax Help Fuels Alternative fuel, Other Fuels (Including Alternative Fuels) Diesel, Diesel Fuel and Kerosene Diesel-water fuel emulsion, Diesel-Water Fuel Emulsion For use in aviation, Kerosene for Use in Aviation Gasoline, Gasoline and Aviation Gasoline Kerosene, Diesel Fuel and Kerosene Other Fuels, Other Fuels (Including Alternative Fuels) Used on inland waterways, Fuels Used on Inland Waterways G Gambling, Taxable situations. 2012 online tax return Gas guzzler tax Automobiles, Automobiles. 2012 online tax return Credit or refund, Credit or refund. 2012 online tax return Limousines, Automobiles. 2012 online tax return Vehicles not subject to tax, Vehicles not subject to tax. 2012 online tax return Gasoline blendstocks, Gasoline Blendstocks Gasoline, defined, Gasoline. 2012 online tax return H Hawaii, air transportation taxes, Transportation between the continental U. 2012 online tax return S. 2012 online tax return and Alaska or Hawaii. 2012 online tax return Heavy Motor Vehicle User Fee, Excise Taxes Not Covered Heavy trucks First retail sale, defined, First retail sale defined. 2012 online tax return Further manufacture, Further manufacture. 2012 online tax return Installment sales, Installment sales. 2012 online tax return Parts or accessories, Parts or accessories. 2012 online tax return Presumptive retail sales price, Presumptive retail sales price. 2012 online tax return Related persons, Related person. 2012 online tax return Separate purchases, Separate purchase. 2012 online tax return Tax base, Determination of tax base. 2012 online tax return Tax rate, Retail Tax on Heavy Trucks, Trailers, and Tractors Helicopter, Certain helicopter uses. 2012 online tax return Help (see Tax help) Highway vehicle, Highway vehicle. 2012 online tax return , In a highway vehicle owned by the United States that is not used on a highway (No. 2012 online tax return 12). 2012 online tax return Highway vehicle (Diesel-powered), Diesel-powered highway vehicle. 2012 online tax return I Identifying number, Taxpayer identification number. 2012 online tax return Imported taxable products (ODCs), Imported Taxable Products Income, include in, Including the Credit or Refund in Income Indoor tanning services, Indoor Tanning Services Tax Information returns, liquid products, Information Returns Inland waterways, Fuels Used on Inland Waterways Intercity and local buses, In certain intercity and local buses (No. 2012 online tax return 5). 2012 online tax return Interest and penalties, Penalties and Interest International air travel facilities, International Air Travel Facilities K Kerosene Definitions, Diesel Fuel and Kerosene Exported, Diesel Fuel and Kerosene For use in aviation, Kerosene for Use in Aviation L Liquid products, information returns, Information Returns Local telephone service, Local telephone service. 2012 online tax return Local-only service, Local-only service. 2012 online tax return M Manufacturer, defined, Manufacturer. 2012 online tax return Manufacturers taxes Arrow shafts, Arrow Shafts Bows, Quivers, Broadheads, and Points, Bows, Quivers, Broadheads, and Points Coal, Coal Credits or refunds, Credits or Refunds Exemptions, Exemptions Gas guzzler tax, Gas Guzzler Tax Lease, Lease considered sale. 2012 online tax return Lease payments, Partial payments. 2012 online tax return Partial payments, Partial payments. 2012 online tax return Registration, Registration requirements. 2012 online tax return Related person, Related person. 2012 online tax return Requirements for exempt sales, Requirements for Exempt Sales Sale, Sale. 2012 online tax return Sport fishing equipment, Sport Fishing Equipment Taxable Tires, Taxable Tires Vaccines, Vaccines Medical device tax, Taxable medical devices. 2012 online tax return Military aircraft, In military aircraft (No. 2012 online tax return 16). 2012 online tax return Mobile radio telephone service, Mobile radio telephone service. 2012 online tax return N News services, News services. 2012 online tax return Nonprofit educational organization, Exclusive use by a nonprofit educational organization (No. 2012 online tax return 13). 2012 online tax return Nonprofit educational organization use and state use, Nonprofit educational organization and state use. 2012 online tax return Nonprofit educational organizations, Nonprofit educational organizations. 2012 online tax return , Federal, state, and local government. 2012 online tax return Nontaxable uses, definitions, Definitions of Nontaxable Uses Nontaxable uses, type of use table, Definitions of Nontaxable Uses O Obligations not in registered form, Obligations Not in Registered Form Off-highway use, Off-highway business use (No. 2012 online tax return 2). 2012 online tax return Oil spill liability, Environmental Taxes Other Fuels (Including Alternative Fuels), Other Fuels (Including Alternative Fuels) Other fuels, defined, Other fuels. 2012 online tax return Ozone-depleting chemicals Floor stocks tax, Floor Stocks Tax Imported taxable products, Imported Taxable Products P Patient-centered outcomes research fee, Patient-Centered Outcomes Research Fee Payment of taxes, Payment of Taxes Penalties Dyed diesel fuel, Penalty. 2012 online tax return Dyed kerosene, Penalty. 2012 online tax return Pipeline operator, defined, Pipeline operator. 2012 online tax return Position holder, defined, Position holder. 2012 online tax return Publications (see Tax help) Q Qualified local bus, In a qualified local bus (No. 2012 online tax return 6). 2012 online tax return R Rack, defined, Rack. 2012 online tax return Radio broadcasts, News services. 2012 online tax return Records, Refiner, defined, Refiner. 2012 online tax return Refinery, defined, Refinery. 2012 online tax return Refunds, Claiming A Refund Refunds of second tax, Refunds of Second Tax Registered ultimate vendor, Sales by Registered Ultimate Vendors, Registered ultimate vendor. 2012 online tax return Registrant, Taxable fuel registrant. 2012 online tax return Registrant, defined, Registrant. 2012 online tax return Registration, Registration Requirements Form 637, Reminders Registration-required obligations, Obligations Not in Registered Form Related persons Heavy trucks, Related person. 2012 online tax return Sport fishing equipment, Related person. 2012 online tax return Removal, defined, Removal. 2012 online tax return Retail tax Credits or refunds, Credits or refunds. 2012 online tax return Heavy trucks, Retail Tax on Heavy Trucks, Trailers, and Tractors Rulings Program, Rulings Program Rural airports, Rural airports. 2012 online tax return S Sale, defined, Sale. 2012 online tax return Sales by registered ultimate vendors, gasoline, Sales by registered ultimate vendors. 2012 online tax return Sales by registered ultimate vendors, kerosene for use in aviation, Sales by Registered Ultimate Vendors Sales price Bonus goods, Bonus goods. 2012 online tax return Cost of transportation, Manufacturers taxes based on sale price. 2012 online tax return Delivery costs, Manufacturers taxes based on sale price. 2012 online tax return Discounts, Manufacturers taxes based on sale price. 2012 online tax return Installation costs, Manufacturers taxes based on sale price. 2012 online tax return Insurance costs, Manufacturers taxes based on sale price. 2012 online tax return Local advertising charges, Manufacturers taxes based on sale price. 2012 online tax return Manufacturers excise tax, Manufacturers taxes based on sale price. 2012 online tax return Rebates, Manufacturers taxes based on sale price. 2012 online tax return Retail dealer preparation costs, Manufacturers taxes based on sale price. 2012 online tax return Warranty charges, Manufacturers taxes based on sale price. 2012 online tax return School bus, In a school bus (No. 2012 online tax return 7). 2012 online tax return Second generation biofuel, Second generation biofuel. 2012 online tax return Security systems, Telephone-operated security systems. 2012 online tax return Ship passenger tax, Ship Passenger Tax Special September rule, When to deposit, Special rule for deposits of taxes in September. 2012 online tax return Sport fishing equipment List of equipment, Sport Fishing Equipment Resales, Certain equipment resale. 2012 online tax return State and local governments, Federal, state, and local government. 2012 online tax return State or local governments, Exclusive use by a state, political subdivision of a state, or the District of Columbia (No. 2012 online tax return 14). 2012 online tax return State or nonprofit educational organization use, Sales by registered ultimate vendors. 2012 online tax return State use, Registered ultimate vendor (state use). 2012 online tax return , State use. 2012 online tax return State, defined, State. 2012 online tax return Suggestions, Comments and suggestions. 2012 online tax return T Tanning tax, Indoor Tanning Services Tax Tax help, How To Get Tax Help Tax rate, Electric outboard boat motors. 2012 online tax return Air transportation of persons, Transportation of Persons by Air Air transportation of property, Transportation of Property by Air Arrow shafts, Arrow Shafts Bows, Quivers, Broadheads, and Points, Bows, Quivers, Broadheads, and Points Coal, Tax rates. 2012 online tax return Electric outboard motor, Electric outboard boat motors. 2012 online tax return International air travel facilities, International Air Travel Facilities Obligations not in registered form, Obligations Not in Registered Form Policies issued by foreign persons, Foreign Insurance Taxes Ship passenger tax, Ship Passenger Tax Sport fishing equipment, Sport Fishing Equipment Trucks, Retail Tax on Heavy Trucks, Trailers, and Tractors Taxable fuel registrant, Taxable fuel registrant. 2012 online tax return Taxable Tires Manufacturers taxes, Taxable Tires Taxable tires Exemptions, Tires exempt from tax. 2012 online tax return Taxes, Payment of, Payment of Taxes Taxpayer identification number, Taxpayer identification number. 2012 online tax return Teletypewriter exchange service, Teletypewriter exchange service. 2012 online tax return Terminal operator, defined, Terminal operator. 2012 online tax return Terminal, defined, Terminal. 2012 online tax return Throughputter, defined, Throughputter. 2012 online tax return Tires Credit against heavy truck tax, Tire credit. 2012 online tax return Credit or refund of tax, Credit or refund. 2012 online tax return Train, Use in a train. 2012 online tax return Train (Diesel-powered), Diesel-powered train. 2012 online tax return Transmix, Diesel Fuel and Kerosene Travel agency, Liability for tax. 2012 online tax return TTY/TDD information, How To Get Tax Help Two-party exchanges, Two-party exchanges. 2012 online tax return , Two-party exchanges. 2012 online tax return U Ultimate purchaser, Ultimate purchaser. 2012 online tax return Uninterrupted international air transportation, Uninterrupted international air transportation. 2012 online tax return , Military personnel on international trips. 2012 online tax return Used other than as a fuel Diesel fuel and kerosene, For diesel fuel and kerosene (other than kerosene used in aviation) used other than as a fuel (No. 2012 online tax return 8). 2012 online tax return Uses, nontaxable Alternative fuels, Other Fuels (Including Alternative Fuels) Aviation gasoline, Gasoline and Aviation Gasoline Diesel fuel, Undyed Diesel Fuel and Undyed Kerosene (Other Than Kerosene Used in Aviation) Diesel-water fuel emulsion, Diesel-Water Fuel Emulsion Gasoline, Gasoline and Aviation Gasoline Kerosene, Undyed Diesel Fuel and Undyed Kerosene (Other Than Kerosene Used in Aviation) Kerosene for use in aviation, Ultimate purchasers. 2012 online tax return Liquefied petroleum gas (LPG), Other Fuels (Including Alternative Fuels) Other Fuels, Other Fuels (Including Alternative Fuels) V Vaccines Credit or refund, Credit or refund. 2012 online tax return Manufacturers tax, What's New, Vaccines Vehicles Gas guzzler, Gas Guzzler Tax Imported, Imported automobiles. 2012 online tax return Law enforcement, Vehicles not subject to tax. 2012 online tax return Vendors, registered ultimate, Sales by Registered Ultimate Vendors, Registered ultimate vendor. 2012 online tax return Vessel operator, defined, Vessel operator. 2012 online tax return W Wagering and occupational wagering fee, Excise Taxes Not Covered When to deposit, When To Make Deposits Prev  Up     Home   More Online Publications