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20131040ez

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20131040ez

20131040ez 3. 20131040ez   Limit on Annual Additions Table of Contents Ministers and church employees. 20131040ez Includible Compensation for Your Most Recent Year of ServiceMost Recent Year of Service Includible Compensation The first component of MAC is the limit on annual additions. 20131040ez This is a limit on the total contributions (elective deferrals, nonelective contributions, and after-tax contributions) that can be made to your 403(b) account. 20131040ez The limit on annual additions generally is the lesser of: $51,000 for 2013 and $52,000 for 2014, or 100% of your includible compensation for your most recent year of service. 20131040ez More than one 403(b) account. 20131040ez If you contributed to more than one 403(b) account, you must combine the contributions made to all 403(b) accounts on your behalf by your employer. 20131040ez Ministers and church employees. 20131040ez   If you are a minister or a church employee, you may be able to increase your limit on annual additions or use different rules when figuring your limit on annual additions. 20131040ez For more information, see chapter 5. 20131040ez Participation in a qualified plan. 20131040ez If you participated in a 403(b) plan and a qualified plan, you must combine contributions made to your 403(b) account with contributions to a qualified plan and simplified employee pensions of all corporations, partnerships, and sole proprietorships in which you have more than 50% control. 20131040ez You can use Part I of Worksheet 1 in chapter 9 to figure your limit on annual additions. 20131040ez Includible Compensation for Your Most Recent Year of Service Definition. 20131040ez   Generally, includible compensation for your most recent year of service is the amount of taxable wages and benefits you received from the employer that maintained a 403(b) account for your benefit during your most recent year of service. 20131040ez When figuring your includible compensation for your most recent year of service, keep in mind that your most recent year of service may not be the same as your employer's most recent annual work period. 20131040ez This can happen if your tax year is not the same as your employer's annual work period. 20131040ez When figuring includible compensation for your most recent year of service, do not mix compensation or service of one employer with compensation or service of another employer. 20131040ez Most Recent Year of Service Your most recent year of service is your last full year of service, ending on the last day of your tax year that you worked for the employer that maintained a 403(b) account on your behalf. 20131040ez Tax year different from employer's annual work period. 20131040ez   If your tax year is not the same as your employer's annual work period, your most recent year of service is made up of parts of at least two of your employer's annual work periods. 20131040ez Example. 20131040ez A professor who reports her income on a calendar-year basis is employed on a full-time basis by a university that operates on an academic year (October through May). 20131040ez To figure her includible compensation for 2013, the professor's most recent year of service is her service from January through May 2013 and from October through December 2013. 20131040ez Figuring Your Most Recent Year of Service To figure your most recent year of service, begin by determining what is a full year of service for your position. 20131040ez A full year of service is equal to full-time employment for your employer's annual work period. 20131040ez After identifying a full year of service, begin counting the service you have provided for your employer starting with the service provided in the current year. 20131040ez Part-time or employed only part of the year. 20131040ez   If you are a part-time or a full-time employee who is employed for only part of the year, your most recent year of service is your service this year and your service for as many previous years as is necessary to total 1 full year of service. 20131040ez To determine your most recent year of service, add the following periods of service: Your service during the year for which you are figuring the limit on annual additions, and Your service during your preceding tax years until the total service equals 1 year of service or you have figured all of your service with the employer. 20131040ez Example. 20131040ez You were employed on a full-time basis from July through December 2011 (1/2 year of service), July through December 2012 (1/2 year of service), and October through December 2013 (1/4 year of service). 20131040ez Your most recent year of service for computing your limit on annual additions for 2013 is the total of your service during 2013 (1/4 year of service), your service during 2012 (1/2 year of service), and your service during the months October through December 2011 (1/4 year of service). 20131040ez Not yet employed for 1 year. 20131040ez   If, at the close of the year, you have not yet worked for your employer for 1 year (including time you worked for the same employer in all earlier years), use the period of time you have worked for the employer as your most recent year of service. 20131040ez Includible Compensation After identifying your most recent year of service, the next step is to identify the includible compensation associated with that full year of service. 20131040ez Includible compensation is not the same as income included on your tax return. 20131040ez Compensation is a combination of income and benefits received in exchange for services provided to your employer. 20131040ez Generally, includible compensation is the amount of income and benefits: Received from the employer who maintains your 403(b) account, and Must be included in your income. 20131040ez Includible compensation includes the following amounts. 20131040ez Elective deferrals (employer's contributions made on your behalf under a salary reduction agreement). 20131040ez Amounts contributed or deferred by your employer under a section 125 cafeteria plan. 20131040ez Amounts contributed or deferred, at the election of the employee, under an eligible section 457 nonqualified deferred compensation plan (state or local government or tax-exempt organization plan). 20131040ez  Note. 20131040ez For information about treating elective deferrals under section 457 plans as Roth contributions, see Publication 575. 20131040ez Wages, salaries, and fees for personal services earned with the employer maintaining your 403(b) account. 20131040ez Income otherwise excluded under the foreign earned income exclusion. 20131040ez Pre-tax contributions (employer's contributions made on your behalf according to your election) to a qualified transportation fringe benefit plan. 20131040ez Includible compensation does not include the following items. 20131040ez Your employer's contributions to your 403(b) account. 20131040ez Compensation earned while your employer was not an eligible employer. 20131040ez Your employer's contributions to a qualified plan that: Are on your behalf, and Are excludable from income. 20131040ez The cost of incidental life insurance. 20131040ez See Cost of Incidental Life Insurance, later. 20131040ez If you are a church employee or a foreign missionary, figure includible compensation using the rules explained in chapter 5. 20131040ez Contributions after retirement. 20131040ez   Nonelective contributions may be made for an employee for up to 5 years after retirement. 20131040ez These contributions would be based on includible compensation for the last year of service before retirement. 20131040ez Cost of Incidental Life Insurance Includible compensation does not include the cost of incidental life insurance. 20131040ez If all of your 403(b) accounts invest only in mutual funds, then you have no incidental life insurance. 20131040ez If you have an annuity contract, a portion of the cost of that contract may be for incidental life insurance. 20131040ez If so, the cost of the insurance is taxable to you in the year contributed and is considered part of your basis when distributed. 20131040ez Your employer will include the cost of your insurance as taxable wages in box 1 of Form W-2. 20131040ez Not all annuity contracts include life insurance. 20131040ez Contact your plan administrator to determine if your contract includes incidental life insurance. 20131040ez If it does, you will need to figure the cost of life insurance each year the policy is in effect. 20131040ez Figuring the cost of incidental life insurance. 20131040ez If you have determined that part of the cost of your annuity contract is for an incidental life insurance premium, you will need to determine the amount of the premium and subtract it from your includible compensation. 20131040ez To determine the amount of the life insurance premiums, you will need to know the following information. 20131040ez The value of your life insurance contract, which is the amount payable upon your death. 20131040ez The cash value of your life insurance contract at the end of the tax year. 20131040ez Your age on your birthday nearest the beginning of the policy year. 20131040ez Your current life insurance protection under an ordinary retirement income life insurance policy, which is the amount payable upon your death minus the cash value of the contract at the end of the year. 20131040ez You can use Worksheet A, in chapter 9, to determine the cost of your incidental life insurance. 20131040ez Example. 20131040ez Your new contract provides that your beneficiary will receive $10,000 if you should die before retirement. 20131040ez Your cash value in the contract at the end of the first year is zero. 20131040ez Your current life insurance protection for the first year is $10,000 ($10,000 − 0). 20131040ez The cash value in the contract at the end of year two is $1,000, and the current life insurance protection for the second year is $9,000 ($10,000 – $1,000). 20131040ez The 1-year cost of the protection can be calculated by using Figure 3-1, Table of One-Year Term Premiums for $1,000 Life Insurance Protection . 20131040ez The premium rate is determined based on your age on your birthday nearest the beginning of the policy year. 20131040ez Figure 3-1. 20131040ez Table of One-Year Term Premiums for $1,000 Life Insurance Protection Age Cost   Age Cost   Age Cost 0 $0. 20131040ez 70   35 $0. 20131040ez 99   70 $20. 20131040ez 62 1 0. 20131040ez 41   36 1. 20131040ez 01   71 22. 20131040ez 72 2 0. 20131040ez 27   37 1. 20131040ez 04   72 25. 20131040ez 07 3 0. 20131040ez 19   38 1. 20131040ez 06   73 27. 20131040ez 57 4 0. 20131040ez 13   39 1. 20131040ez 07   74 30. 20131040ez 18 5 0. 20131040ez 13   40 1. 20131040ez 10   75 33. 20131040ez 05 6 0. 20131040ez 14   41 1. 20131040ez 13   76 36. 20131040ez 33 7 0. 20131040ez 15   42 1. 20131040ez 20   77 40. 20131040ez 17 8 0. 20131040ez 16   43 1. 20131040ez 29   78 44. 20131040ez 33 9 0. 20131040ez 16   44 1. 20131040ez 40   79 49. 20131040ez 23 10 0. 20131040ez 16   45 1. 20131040ez 53   80 54. 20131040ez 56 11 0. 20131040ez 19   46 1. 20131040ez 67   81 60. 20131040ez 51 12 0. 20131040ez 24   47 1. 20131040ez 83   82 66. 20131040ez 74 13 0. 20131040ez 28   48 1. 20131040ez 98   83 73. 20131040ez 07 14 0. 20131040ez 33   49 2. 20131040ez 13   84 80. 20131040ez 35 15 0. 20131040ez 38   50 2. 20131040ez 30   85 88. 20131040ez 76 16 0. 20131040ez 52   51 2. 20131040ez 52   86 99. 20131040ez 16 17 0. 20131040ez 57   52 2. 20131040ez 81   87 110. 20131040ez 40 18 0. 20131040ez 59   53 3. 20131040ez 20   88 121. 20131040ez 85 19 0. 20131040ez 61   54 3. 20131040ez 65   89 133. 20131040ez 40 20 0. 20131040ez 62   55 4. 20131040ez 15   90 144. 20131040ez 30 21 0. 20131040ez 62   56 4. 20131040ez 68   91 155. 20131040ez 80 22 0. 20131040ez 64   57 5. 20131040ez 20   92 168. 20131040ez 75 23 0. 20131040ez 66   58 5. 20131040ez 66   93 186. 20131040ez 44 24 0. 20131040ez 68   59 6. 20131040ez 06   94 206. 20131040ez 70 25 0. 20131040ez 71   60 6. 20131040ez 51   95 228. 20131040ez 35 26 0. 20131040ez 73   61 7. 20131040ez 11   96 250. 20131040ez 01 27 0. 20131040ez 76   62 7. 20131040ez 96   97 265. 20131040ez 09 28 0. 20131040ez 80   63 9. 20131040ez 08   98 270. 20131040ez 11 29 0. 20131040ez 83   64 10. 20131040ez 41   99 281. 20131040ez 05 30 0. 20131040ez 87   65 11. 20131040ez 90       31 0. 20131040ez 90   66 13. 20131040ez 51       32 0. 20131040ez 93   67 15. 20131040ez 20       33 0. 20131040ez 96   68 16. 20131040ez 92       34 0. 20131040ez 98   69 18. 20131040ez 70                       If the current published premium rates per $1,000 of insurance protection charged by an insurer for individual 1-year term life insurance premiums available to all standard risks are lower than those in the preceding table, you can use the lower rates for figuring the cost of insurance in connection with individual policies issued by the same insurer. 20131040ez Example 1. 20131040ez Lynne Green, age 44, and her employer enter into a 403(b) plan that will provide her with a $500 a month annuity upon retirement at age 65. 20131040ez The agreement also provides that if she should die before retirement, her beneficiary will receive the greater of $20,000 or the cash surrender value in the life insurance contract. 20131040ez Using the facts presented we can determine the cost of Lynne's life insurance protection as shown in Table 3-1. 20131040ez Lynne's employer has included $28 for the cost of the life insurance protection in her current year's income. 20131040ez When figuring her includible compensation for this year, Lynne will subtract $28. 20131040ez Table 3-1. 20131040ez Worksheet A. 20131040ez Cost of Incidental Life Insurance Note. 20131040ez Use this worksheet to figure the cost of incidental life insurance included in your annuity contract. 20131040ez This amount will be used to figure includible compensation for your most recent year of service. 20131040ez 1. 20131040ez Enter the value of the contract (amount payable upon your death) 1. 20131040ez $20,000. 20131040ez 00 2. 20131040ez Enter the cash value in the contract at the end of the year 2. 20131040ez 0. 20131040ez 00 3. 20131040ez Subtract line 2 from line 1. 20131040ez This is the value of your current life insurance protection 3. 20131040ez $20,000. 20131040ez 00 4. 20131040ez Enter your age on your birthday nearest the beginning of the policy year 4. 20131040ez 44 5. 20131040ez Enter the 1-year term premium for $1,000 of life insurance based on your age. 20131040ez (From Figure 3-1) 5. 20131040ez $1. 20131040ez 40 6. 20131040ez Divide line 3 by $1,000 6. 20131040ez 20 7. 20131040ez Multiply line 6 by line 5. 20131040ez This is the cost of your incidental life insurance 7. 20131040ez $28. 20131040ez 00 Example 2. 20131040ez Lynne's cash value in the contract at the end of the second year is $1,000. 20131040ez In year two, the cost of Lynne's life insurance is calculated as shown in Table 3-2. 20131040ez In year two, Lynne's employer will include $29. 20131040ez 07 in her current year's income. 20131040ez Lynne will subtract this amount when figuring her includible compensation. 20131040ez Table 3-2. 20131040ez Worksheet A. 20131040ez Cost of Incidental Life Insurance Note. 20131040ez Use this worksheet to figure the cost of incidental life insurance included in your annuity contract. 20131040ez This amount will be used to figure includible compensation for your most recent year of service. 20131040ez 1. 20131040ez Enter the value of the contract (amount payable upon your death) 1. 20131040ez $20,000. 20131040ez 00 2. 20131040ez Enter the cash value in the contract at the end of the year 2. 20131040ez $1,000. 20131040ez 00 3. 20131040ez Subtract line 2 from line 1. 20131040ez This is the value of your current life insurance protection 3. 20131040ez $19,000. 20131040ez 00 4. 20131040ez Enter your age on your birthday nearest the beginning of the policy year 4. 20131040ez 45 5. 20131040ez Enter the 1-year term premium for $1,000 of life insurance based on your age. 20131040ez (From Figure 3-1) 5. 20131040ez $1. 20131040ez 53 6. 20131040ez Divide line 3 by $1,000 6. 20131040ez 19 7. 20131040ez Multiply line 6 by line 5. 20131040ez This is the cost of your incidental life insurance 7. 20131040ez $29. 20131040ez 07 Figuring Includible Compensation for Your Most Recent Year of Service You can use Worksheet B in chapter 9 to determine your includible compensation for your most recent year of service. 20131040ez Example. 20131040ez Floyd has been periodically working full-time for a local hospital since September 2011. 20131040ez He needs to figure his limit on annual additions for 2014. 20131040ez The hospital's normal annual work period for employees in Floyd's general type of work runs from January to December. 20131040ez During the periods that Floyd was employed with the hospital, the hospital has always been eligible to provide a 403(b) plan to employees. 20131040ez Additionally, the hospital has never provided the employees with a 457 deferred compensation plan, a transportation fringe benefit plan, or a cafeteria plan. 20131040ez Floyd has never worked abroad and there is no life insurance provided under the plan. 20131040ez Table 3-3 shows the service Floyd provided to his employer, his compensation for the periods worked, his elective deferrals, and his taxable wages. 20131040ez Table 3-3. 20131040ez Floyd's Compensation Note. 20131040ez This table shows information Floyd will use to figure includible compensation for his most recent year of service. 20131040ez   Year Years of Service Taxable Wages Elective Deferrals 2014 6/12 of  a year $42,000 $2,000 2013 4/12 of  a year $16,000 $1,650 2012 4/12 of  a year $16,000 $1,650 Before Floyd can figure his limit on annual additions, he must figure includible compensation for his most recent year of service. 20131040ez Because Floyd is not planning to work the entire 2014 year, his most recent year of service will include the time he is planning to work in 2014 plus time he worked in the preceding 3 years until the time he worked for the hospital totals 1 year. 20131040ez If the total time he worked is less than 1 year, Floyd will treat it as if it were 1 year. 20131040ez He figures his most recent year of service shown in the following list. 20131040ez Time he will work in 2014 is 6/12 of a year. 20131040ez Time worked in 2013 is 4/12 of a year. 20131040ez All of this time will be used to determine Floyd's most recent year of service. 20131040ez Time worked in 2012 is 4/12 of a year. 20131040ez Floyd only needs 2 months of the 4 months he worked in 2012 to have enough time to total 1 full year. 20131040ez Because he needs only one-half of the actual time he worked, Floyd will use only one-half of his income earned during that period to calculate wages that will be used in figuring his includible compensation. 20131040ez Using the information provided in Table 3-3, wages for Floyd's most recent year of service are $66,000 ($42,000 + $16,000 + $8,000). 20131040ez His includible compensation for his most recent year of service is figured as shown in Table 3-4. 20131040ez After figuring his includible compensation, Floyd determines his limit on annual additions for 2014 to be $52,000, the lesser of his includible compensation, $70,475 (Table 3-4), and the maximum amount of $52,000. 20131040ez Table 3-4. 20131040ez Worksheet B. 20131040ez Includible Compensation for Your Most Recent Year of Service1 Note. 20131040ez Use this worksheet to figure includible compensation for your most recent year of service. 20131040ez 1. 20131040ez Enter your includible wages from the employer maintaining your 403(b) account for your most recent year of service 1. 20131040ez $66,000 2. 20131040ez Enter elective deferrals excluded from your gross income for your most recent year of service2 2. 20131040ez 4,4753 3. 20131040ez Enter amounts contributed or deferred by your employer under a cafeteria plan for your most recent year of service 3. 20131040ez -0- 4. 20131040ez Enter amounts contributed or deferred by your employer according to your election to your 457 account (a nonqualified plan of a state or local government, or of a tax-exempt organization) for your most recent year of service 4. 20131040ez -0- 5. 20131040ez Enter pre-tax contributions (employer's contributions made on your behalf according to your election) to a qualified transportation fringe benefit plan for your most recent year of service 5. 20131040ez -0- 6. 20131040ez Enter your foreign earned income exclusion for your most recent year of service 6. 20131040ez -0- 7. 20131040ez Add lines 1, 2, 3, 4, 5, and 6 7. 20131040ez 70,475 8. 20131040ez Enter the cost of incidental life insurance that is part of your annuity contract for your most recent year of service 8. 20131040ez -0- 9. 20131040ez Enter compensation that was both: Earned during your most recent year of service, and Earned while your employer was not qualified to maintain a 403(b) plan 9. 20131040ez -0- 10. 20131040ez Add lines 8 and 9 10. 20131040ez -0- 11. 20131040ez Subtract line 10 from line 7. 20131040ez This is your includible compensation for your most recent year of service 11. 20131040ez 70,475 1Use estimated amounts if figuring includible compensation before the end of the year. 20131040ez 2Elective deferrals made to a designated Roth account are not excluded from your gross income and should not be included on this line. 20131040ez  3$4,475 ($2,000 + $1,650 + $825). 20131040ez Prev  Up  Next   Home   More Online Publications
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American Battle Monuments Commission

The American Battle Monuments Commission manages 24 overseas military cemeteries, and 25 memorials, monuments, and markers. Nearly all the cemeteries and memorials honor those who served in World War I or World War II.

Contact the Agency or Department

Website: American Battle Monuments Commission

E-mail:

Address: Courthouse Plaza II, Suite 500
2300 Clarendon Boulevard

Arlington, VA 22201

Phone Number: (703) 696-6900

Forms: American Battle Monuments Commission Forms

The 20131040ez

20131040ez Index A Addition to property, Additions and Improvements Adjusted basis, Adjusted Basis Alternative Depreciation System (ADS) Recovery periods, Recovery Periods Under ADS Required use, Required use of ADS. 20131040ez Amended return, Filing an Amended Return Apartment Cooperative, Cooperative apartments. 20131040ez Rental, Which Property Class Applies Under GDS? Automobile (see Passenger automobile) B Basis Adjustments, Basis adjustment for depreciation allowed or allowable. 20131040ez , Adjustment of partner's basis in partnership. 20131040ez , Basis adjustment due to recapture of clean-fuel vehicle deduction or credit. 20131040ez , Basis adjustment due to casualty loss. 20131040ez Basis for depreciation, What Is the Basis for Depreciation? Casualty loss, Basis adjustment due to casualty loss. 20131040ez Change in use, Property changed from personal use. 20131040ez Cost, Cost as Basis Depreciable basis, Depreciable basis. 20131040ez Other than cost, Other Basis Recapture of clean-fuel vehicle deduction or credit, Basis adjustment due to recapture of clean-fuel vehicle deduction or credit. 20131040ez Term interest, Basis adjustments. 20131040ez Unadjusted, Figuring the Unadjusted Basis of Your Property Business use of property, partial, Partial business or investment use. 20131040ez Business-use limit, recapture of Section 179 deduction, When Must You Recapture the Deduction? Business-use requirement, listed property, What Is the Business-Use Requirement? C Car (see Passenger automobile) Carryover of section 179 deduction, Carryover of disallowed deduction. 20131040ez Casualty loss, effect of, Basis adjustment due to casualty loss. 20131040ez Changing accounting method, Changing Your Accounting Method Communication equipment (see Listed property) Commuting, Commuting use. 20131040ez Computer (see Listed property) Computer software, Computer software. 20131040ez , Off-the-shelf computer software. 20131040ez Containers, Containers. 20131040ez Conventions, Which Convention Applies? Cooperative apartment, Cooperative apartments. 20131040ez Copyright, Patents and copyrights. 20131040ez (see also Section 197 intangibles) Correcting depreciation deductions, How Do You Correct Depreciation Deductions? Cost basis, Cost as Basis D Declining balance Method, Declining Balance Method Rates, Declining balance rate. 20131040ez Deduction limit Automobile, Do the Passenger Automobile Limits Apply? Section 179, How Much Can You Deduct? Depreciation Deduction Employee, Can Employees Claim a Deduction? Listed property, Can Employees Claim a Deduction? Determinable useful life, Property Having a Determinable Useful Life Excepted property, Excepted Property Incorrect amount deducted, How Do You Correct Depreciation Deductions? Methods, Which Depreciation Method Applies? Property lasting more than one year, Property Lasting More Than One Year Property owned, Property You Own Property used in business, Property Used in Your Business or Income-Producing Activity Recapture, Revoking an election. 20131040ez , Recapture of Excess Depreciation Depreciation allowable, Basis adjustment for depreciation allowed or allowable. 20131040ez Depreciation allowed, Basis adjustment for depreciation allowed or allowable. 20131040ez Depreciation deduction Listed property, What Is the Business-Use Requirement? Determinable useful life, Property Having a Determinable Useful Life Disposition Before recovery period ends, Sale or Other Disposition Before the Recovery Period Ends General asset account property, Disposing of GAA Property Section 179 deduction, When Must You Recapture the Deduction? E Election ADS, Electing ADS. 20131040ez , Election of ADS. 20131040ez Declining balance (150% DB) method, 150% election. 20131040ez Exclusion from MACRS, Election To Exclude Property From MACRS General asset account, Electing To Use a GAA Not to claim special depreciation allowance, How Can You Elect Not To Claim an Allowance? Section 179 deduction, How Do You Elect the Deduction? Straight line method, Straight line election. 20131040ez Electric vehicle, Electric Vehicles Employee Depreciation deduction, Can Employees Claim a Deduction? How to claim depreciation, Employee. 20131040ez Employee deduction, listed property, Can Employees Claim a Deduction? Energy property, Energy property. 20131040ez Exchange of MACRS property, Property Acquired in a Like-kind Exchange or Involuntary Conversion F Farm Property, Depreciation Methods for Farm Property Figuring MACRS Using percentage tables, How Is the Depreciation Deduction Figured? Without using percentage tables, Figuring the Deduction Without Using the Tables Films, Films, video tapes, and recordings. 20131040ez Free tax services, Free help with your tax return. 20131040ez G General asset account Abusive transaction, Abusive transactions. 20131040ez Disposing of property, Disposing of GAA Property Grouping property in, Grouping Property Nonrecognition transaction, Nonrecognition transactions. 20131040ez General Depreciation System (GDS), recovery periods, Recovery Periods Under GDS Gift (see Basis, other than cost) H Help (see Tax help) I Idle property, Idle Property Improvements, How Do You Treat Repairs and Improvements?, Additions and Improvements Income forecast method, Income Forecast Method Incorrect depreciation deductions, How Do You Correct Depreciation Deductions? Indian reservation Defined, Indian reservation. 20131040ez Qualified infrastructure property, Qualified infrastructure property. 20131040ez Qualified property, Qualified property. 20131040ez Recovery periods for qualified property, Indian Reservation Property Related person, Related person. 20131040ez Inheritance (see Basis, other than cost) Intangible property Depreciation method, Intangible Property, Income Forecast Method Income forecast method, Income Forecast Method Straight line method, Intangible Property Inventory, Inventory. 20131040ez Investment use of property, partial, Partial business or investment use. 20131040ez Involuntary conversion of MACRS property, Property Acquired in a Like-kind Exchange or Involuntary Conversion L Land Not depreciable, Land Preparation costs, Land Leased property, Leased property. 20131040ez Leasehold improvement property, defined, Qualified leasehold improvement property. 20131040ez , Qualified leasehold improvement property. 20131040ez Life tenant, Life tenant. 20131040ez (see also Term interests) Limit on deduction Automobile, Do the Passenger Automobile Limits Apply? Section 179, How Much Can You Deduct? Listed property 5% owner, 5% owner. 20131040ez Computer, Computers and Related Peripheral Equipment Condition of employment, Condition of employment. 20131040ez Defined, What Is Listed Property? Employee deduction, Can Employees Claim a Deduction? Employer convenience, Employer's convenience. 20131040ez Improvements to, Improvements to listed property. 20131040ez Leased, Lessee's Inclusion Amount Passenger automobile, Passenger Automobiles Qualified business use, Qualified Business Use Recordkeeping, Adequate Records Related person, Related persons. 20131040ez Reporting on Form 4562, How Is Listed Property Information Reported? Lodging, Property used for lodging. 20131040ez M Maximum deduction Electric vehicles, Electric Vehicles Passenger automobiles, Maximum Depreciation Deduction Trucks, Trucks and Vans Vans, Trucks and Vans Mobile home (see Residential rental property) Modified ACRS (MACRS) Addition or improvement, Additions and Improvements Alternative Depreciation System (ADS), Which Depreciation System (GDS or ADS) Applies? Conventions, Which Convention Applies? Declining balance method, Declining Balance Method Depreciation methods, Which Depreciation Method Applies? Farm property, Depreciation Methods for Farm Property Figuring, short tax year, Property Placed in Service in a Short Tax Year General Depreciation System (GDS), Which Depreciation System (GDS or ADS) Applies? Percentage tables, Using the MACRS Percentage Tables Property classes, Which Property Class Applies Under GDS? Recovery periods, Which Recovery Period Applies? Short tax year, Figuring the Deduction for a Short Tax Year Straight line method, Straight Line Method N Nonresidential real property, Which Property Class Applies Under GDS? Nontaxable transfer of MACRS property, Property Acquired in a Nontaxable Transfer O Office in the home, Office in the home. 20131040ez , Office in the home. 20131040ez Ownership, incidents of, Incidents of ownership. 20131040ez P Partial business use, Partial business use. 20131040ez Passenger automobile Defined, Passenger Automobiles Electric vehicles, Electric Vehicles Limit on, Do the Passenger Automobile Limits Apply? Maximum depreciation deduction, Maximum Depreciation Deduction Trucks, Trucks and Vans Vans, Trucks and Vans Patent, Patents and copyrights. 20131040ez (see also Section 197 intangibles) Personal property, Personal property. 20131040ez Phonographic equipment (see Listed property) Photographic equipment (see Listed property) Placed in service Before 1987, Property You Placed in Service Before 1987 Date, What Is the Placed in Service Date? Rule, Placed in Service Property Classes, Which Property Class Applies Under GDS? Depreciable, What Property Can Be Depreciated? Idle, Idle Property Improvements, How Do You Treat Repairs and Improvements? Leased, Leased property. 20131040ez , Leased property. 20131040ez Listed, What Is Listed Property? Personal, Personal property. 20131040ez Real, Real property. 20131040ez Retired from service, Retired From Service Tangible personal, Tangible personal property. 20131040ez Term interest, Certain term interests in property. 20131040ez Q Qualified leasehold improvement property, defined, Qualified leasehold improvement property. 20131040ez , Qualified leasehold improvement property. 20131040ez Qualified property, special depreciation allowance, What Is Qualified Property? R Real property, Real property. 20131040ez Recapture Clean-fuel vehicle deduction or credit, Basis adjustment due to recapture of clean-fuel vehicle deduction or credit. 20131040ez General asset account, abusive transaction, Abusive transactions. 20131040ez Listed property, Recapture of Excess Depreciation MACRS depreciation, Revoking an election. 20131040ez Section 179 deduction, When Must You Recapture the Deduction? Special depreciation allowance, When Must You Recapture an Allowance? Recordkeeping Listed property, Adequate Records Section 179, How Do You Elect the Deduction? Recovery periods ADS, Recovery Periods Under ADS GDS, Recovery Periods Under GDS Related persons, Related persons. 20131040ez , Related persons. 20131040ez , Related persons. 20131040ez , Related persons. 20131040ez , Related person. 20131040ez , Related persons. 20131040ez Rent-to-own property, defined, Qualified rent-to-own property. 20131040ez Rental home (see Residential rental property) Rented property, improvements, Improvements to rented property. 20131040ez Repairs, How Do You Treat Repairs and Improvements? Residential rental property, Which Property Class Applies Under GDS? Retail motor fuels outlet, Retail motor fuels outlet. 20131040ez Revoking ADS election, Electing ADS. 20131040ez General asset account election, Revoking an election. 20131040ez Section 179 election, Revoking an election. 20131040ez S Sale of property, Sale or Other Disposition Before the Recovery Period Ends Section 179 deduction Business use required, Partial business use. 20131040ez Carryover, Carryover of disallowed deduction. 20131040ez Dispositions, When Must You Recapture the Deduction? Electing, How Do You Elect the Deduction? Limits Business (taxable) income, Business Income Limit Business-use, recapture, When Must You Recapture the Deduction? Dollar, Dollar Limits Enterprise zone business, Enterprise Zone Businesses Partial business use, Partial business use. 20131040ez Married filing separate returns, Married Individuals Partnership rules, Partnerships and Partners Property Eligible, Eligible Property Excepted, Excepted Property Purchase required, Property Acquired by Purchase Recapture, When Must You Recapture the Deduction? Recordkeeping, How Do You Elect the Deduction? S corporation rules, S Corporations Settlement fees, Settlement costs. 20131040ez Short tax year Figuring depreciation, Property Placed in Service in a Short Tax Year Figuring placed-in-service date, Using the Applicable Convention in a Short Tax Year Software, computer, Computer software. 20131040ez , Off-the-shelf computer software. 20131040ez Sound recording, Films, video tapes, and recordings. 20131040ez Special depreciation allowance Election not to claim, How Can You Elect Not To Claim an Allowance? Qualified property, What Is Qualified Property? Recapture, When Must You Recapture an Allowance? Stock, constructive ownership of, Constructive ownership of stock or partnership interest. 20131040ez Straight line method, Intangible Property, Straight Line Method Created intangibles, Certain created intangibles. 20131040ez T Tangible personal property, Tangible personal property. 20131040ez Term interest, Certain term interests in property. 20131040ez Trade-in of property, Trade-in of other property. 20131040ez Trucks, Trucks and Vans U Unadjusted basis, Figuring the Unadjusted Basis of Your Property Useful life, Property Having a Determinable Useful Life V Vans, Trucks and Vans Video tape, Films, video tapes, and recordings. 20131040ez Video-recording equipment (see Listed property) W When to use ADS, Which Depreciation System (GDS or ADS) Applies? Worksheet Leased listed property, Inclusion amount worksheet. 20131040ez MACRS, MACRS Worksheet Prev  Up     Home   More Online Publications