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How To File Unemployment Taxes

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How To File Unemployment Taxes

How to file unemployment taxes Publication 946 - Additional Material Table of Contents Appendix B — Table of Class Lives and Recovery PeriodsHow To Use the Tables This image is too large to be displayed in the current screen. How to file unemployment taxes Please click the link to view the image. How to file unemployment taxes Appendix A Please click here for the text description of the image. How to file unemployment taxes Table A-1 and A-2 Please click here for the text description of the image. How to file unemployment taxes Table A-3 and A-4 Please click here for the text description of the image. How to file unemployment taxes Table A-5 and A-6 This image is too large to be displayed in the current screen. How to file unemployment taxes Please click the link to view the image. How to file unemployment taxes Table A-7 This image is too large to be displayed in the current screen. How to file unemployment taxes Please click the link to view the image. How to file unemployment taxes Table A-8 This image is too large to be displayed in the current screen. How to file unemployment taxes Please click the link to view the image. How to file unemployment taxes Table A-8 (continued) This image is too large to be displayed in the current screen. How to file unemployment taxes Please click the link to view the image. How to file unemployment taxes Table A-9 This image is too large to be displayed in the current screen. How to file unemployment taxes Please click the link to view the image. How to file unemployment taxes Table A-9 (continued) This image is too large to be displayed in the current screen. How to file unemployment taxes Please click the link to view the image. How to file unemployment taxes Table A-10 This image is too large to be displayed in the current screen. How to file unemployment taxes Please click the link to view the image. How to file unemployment taxes Table A–10 (continued) This image is too large to be displayed in the current screen. How to file unemployment taxes Please click the link to view the image. How to file unemployment taxes Table A-11 Please click here for the text description of the image. How to file unemployment taxes Table A-11 (continued) This image is too large to be displayed in the current screen. How to file unemployment taxes Please click the link to view the image. How to file unemployment taxes Table A-12 This image is too large to be displayed in the current screen. How to file unemployment taxes Please click the link to view the image. How to file unemployment taxes Table A-12 (continued) This image is too large to be displayed in the current screen. How to file unemployment taxes Please click the link to view the image. How to file unemployment taxes Table A-13, A-14 and A-14 (continued. How to file unemployment taxes 1) Please click here for the text description of the image. How to file unemployment taxes Table A-14 (continued. How to file unemployment taxes 2) Please click here for the text description of the image. How to file unemployment taxes Table A-15 Please click here for the text description of the image. How to file unemployment taxes Table A-15 (continued) Please click here for the text description of the image. How to file unemployment taxes Table A-16 Please click here for the text description of the image. How to file unemployment taxes Table A-16 (continued) This image is too large to be displayed in the current screen. How to file unemployment taxes Please click the link to view the image. How to file unemployment taxes Table A-17 Please click here for the text description of the image. How to file unemployment taxes Table A-17 (continued) Please click here for the text description of the image. How to file unemployment taxes Table A-18 This image is too large to be displayed in the current screen. How to file unemployment taxes Please click the link to view the image. How to file unemployment taxes Table A-18 (continued) This image is too large to be displayed in the current screen. How to file unemployment taxes Please click the link to view the image. How to file unemployment taxes Table A-19 and Table A-20 Please click here for the text description of the image. How to file unemployment taxes Quality Indian Reservation Property Tables Please click here for the text description of the image. How to file unemployment taxes Qualified Indian Reservation Property Tables 2 Appendix B — Table of Class Lives and Recovery Periods The Table of Class Lives and Recovery Periods has two sections. How to file unemployment taxes The first section, Specific Depreciable Assets Used In All Business Activities, Except As Noted, generally lists assets used in all business activities. How to file unemployment taxes It is shown as Table B-1. How to file unemployment taxes The second section, Depreciable Assets Used In The Following Activities, describes assets used only in certain activities. How to file unemployment taxes It is shown as Table B-2. How to file unemployment taxes How To Use the Tables You will need to look at both Table B-1 and B-2 to find the correct recovery period. How to file unemployment taxes Generally, if the property is listed in Table B-1 you use the recovery period shown in that table. How to file unemployment taxes However, if the property is specifically listed in Table B-2 under the type of activity in which it is used, you use the recovery period listed under the activity in that table. How to file unemployment taxes Use the tables in the order shown below to determine the recovery period of your depreciable property. How to file unemployment taxes Table B-1. How to file unemployment taxes   Check Table B-1 for a description of the property. How to file unemployment taxes If it is described in Table B-1, also check Table B-2 to find the activity in which the property is being used. How to file unemployment taxes If the activity is described in Table B-2, read the text (if any) under the title to determine if the property is specifically included in that asset class. How to file unemployment taxes If it is, use the recovery period shown in the appropriate column of Table B-2 following the description of the activity. How to file unemployment taxes If the activity is not described in Table B-2 or if the activity is described but the property either is not specifically included in or is specifically excluded from that asset class, then use the recovery period shown in the appropriate column following the description of the property in Table B-1. How to file unemployment taxes Tax-exempt use property subject to a lease. How to file unemployment taxes   The recovery period for ADS cannot be less than 125 percent of the lease term for any property leased under a leasing arrangement to a tax-exempt organization, governmental unit, or foreign person or entity (other than a partnership). How to file unemployment taxes Table B-2. How to file unemployment taxes   If the property is not listed in Table B-1, check Table B-2 to find the activity in which the property is being used and use the recovery period shown in the appropriate column following the description. How to file unemployment taxes Property not in either table. How to file unemployment taxes   If the activity or the property is not included in either table, check the end of Table B-2 to find Certain Property for Which Recovery Periods Assigned. How to file unemployment taxes This property generally has a recovery period of 7 years for GDS or 12 years for ADS. How to file unemployment taxes See Which Property Class Applies Under GDS and Which Recovery Period Applies in chapter 4 for the class lives or the recovery periods for GDS and ADS for the following. How to file unemployment taxes Residential rental property and nonresidential real property (also see Appendix A, Chart 2). How to file unemployment taxes Qualified rent-to-own property. How to file unemployment taxes A motorsport entertainment complex placed in service before January 1, 2014. How to file unemployment taxes Any retail motor fuels outlet. How to file unemployment taxes Any qualified leasehold improvement property placed in service before January 1, 2014. How to file unemployment taxes Any qualified restaurant property placed in service before January 1, 2014. How to file unemployment taxes Initial clearing and grading land improvements for gas utility property and electric utility transmission and distribution plants. How to file unemployment taxes Any water utility property. How to file unemployment taxes Certain electric transmission property used in the transmission at 69 or more kilovolts of electricity for sale and placed in service after April 11, 2005. How to file unemployment taxes Natural gas gathering and distribution lines placed in service after April 11, 2005. How to file unemployment taxes Example 1. How to file unemployment taxes Richard Green is a paper manufacturer. How to file unemployment taxes During the year, he made substantial improvements to the land on which his paper plant is located. How to file unemployment taxes He checks Table B-1 and finds land improvements under asset class 00. How to file unemployment taxes 3. How to file unemployment taxes He then checks Table B-2 and finds his activity, paper manufacturing, under asset class 26. How to file unemployment taxes 1, Manufacture of Pulp and Paper. How to file unemployment taxes He uses the recovery period under this asset class because it specifically includes land improvements. How to file unemployment taxes The land improvements have a 13-year class life and a 7-year recovery period for GDS. How to file unemployment taxes If he elects to use ADS, the recovery period is 13 years. How to file unemployment taxes If Richard only looked at Table B-1, he would select asset class 00. How to file unemployment taxes 3, Land Improvements, and incorrectly use a recovery period of 15 years for GDS or 20 years for ADS. How to file unemployment taxes Example 2. How to file unemployment taxes Sam Plower produces rubber products. How to file unemployment taxes During the year, he made substantial improvements to the land on which his rubber plant is located. How to file unemployment taxes He checks Table B-1 and finds land improvements under asset class 00. How to file unemployment taxes 3. How to file unemployment taxes He then checks Table B-2 and finds his activity, producing rubber products, under asset class 30. How to file unemployment taxes 1, Manufacture of Rubber Products. How to file unemployment taxes Reading the headings and descriptions under asset class 30. How to file unemployment taxes 1, Sam finds that it does not include land improvements. How to file unemployment taxes Therefore, Sam uses the recovery period under asset class 00. How to file unemployment taxes 3. How to file unemployment taxes The land improvements have a 20-year class life and a 15-year recovery period for GDS. How to file unemployment taxes If he elects to use ADS, the recovery period is 20 years. How to file unemployment taxes Example 3. How to file unemployment taxes Pam Martin owns a retail clothing store. How to file unemployment taxes During the year, she purchased a desk and a cash register for use in her business. How to file unemployment taxes She checks Table B-1 and finds office furniture under asset class 00. How to file unemployment taxes 11. How to file unemployment taxes Cash registers are not listed in any of the asset classes in Table B-1. How to file unemployment taxes She then checks Table B-2 and finds her activity, retail store, under asset class 57. How to file unemployment taxes 0, Distributive Trades and Services, which includes assets used in wholesale and retail trade. How to file unemployment taxes This asset class does not specifically list office furniture or a cash register. How to file unemployment taxes She looks back at Table B-1 and uses asset class 00. How to file unemployment taxes 11 for the desk. How to file unemployment taxes The desk has a 10-year class life and a 7-year recovery period for GDS. How to file unemployment taxes If she elects to use ADS, the recovery period is 10 years. How to file unemployment taxes For the cash register, she uses asset class 57. How to file unemployment taxes 0 because cash registers are not listed in Table B-1 but it is an asset used in her retail business. How to file unemployment taxes The cash register has a 9-year class life and a 5-year recovery period for GDS. How to file unemployment taxes If she elects to use the ADS method, the recovery period is 9 years. How to file unemployment taxes This image is too large to be displayed in the current screen. How to file unemployment taxes Please click the link to view the image. How to file unemployment taxes Table B-1 Please click here for the text description of the image. How to file unemployment taxes Table B-2 This image is too large to be displayed in the current screen. How to file unemployment taxes Please click the link to view the image. How to file unemployment taxes Table B-2 This image is too large to be displayed in the current screen. How to file unemployment taxes Please click the link to view the image. How to file unemployment taxes Table B-2 This image is too large to be displayed in the current screen. How to file unemployment taxes Please click the link to view the image. How to file unemployment taxes Table B-2 This image is too large to be displayed in the current screen. How to file unemployment taxes Please click the link to view the image. How to file unemployment taxes Table B-2 This image is too large to be displayed in the current screen. How to file unemployment taxes Please click the link to view the image. How to file unemployment taxes Table B-2 This image is too large to be displayed in the current screen. How to file unemployment taxes Please click the link to view the image. How to file unemployment taxes Table B-2 This image is too large to be displayed in the current screen. How to file unemployment taxes Please click the link to view the image. How to file unemployment taxes Table B-2 This image is too large to be displayed in the current screen. 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The How To File Unemployment Taxes

How to file unemployment taxes 3. How to file unemployment taxes   Claiming the Special Depreciation Allowance Table of Contents Introduction What Is Qualified Property?Qualified Reuse and Recycling Property Qualified Cellulosic Biofuel Plant Property Qualified Disaster Assistance Property Certain Qualified Property Acquired After December 31, 2007 Election to Accelerate Certain Credits in Lieu of the Special Depreciation Allowance How Much Can You Deduct? How Can You Elect Not To Claim an Allowance? When Must You Recapture an Allowance? Introduction You can take a special depreciation allowance to recover part of the cost of qualified property (defined next), placed in service during the tax year. How to file unemployment taxes The allowance applies only for the first year you place the property in service. How to file unemployment taxes For qualified property placed in service in 2013, you can take an additional 50% special allowance. How to file unemployment taxes The allowance is an additional deduction you can take after any section 179 deduction and before you figure regular depreciation under MACRS for the year you place the property in service. How to file unemployment taxes This chapter explains what is qualified property. How to file unemployment taxes It also includes rules regarding how to figure an allowance, how to elect not to claim an allowance, and when you must recapture an allowance. How to file unemployment taxes Corporations can elect to accelerate certain minimum tax credits in lieu of claiming the special depreciation allowance for eligible qualified property. How to file unemployment taxes See Election to Accelerate Certain Credits in Lieu of the Special Depreciation Allowance , later. How to file unemployment taxes See chapter 6 for information about getting publications and forms. How to file unemployment taxes What Is Qualified Property? Your property is qualified property if it is one of the following. How to file unemployment taxes Qualified reuse and recycling property. How to file unemployment taxes Qualified cellulosic biofuel plant property. How to file unemployment taxes Qualified disaster assistance property. How to file unemployment taxes Certain qualified property acquired after December 31, 2007. How to file unemployment taxes The following discussions provide information about the types of qualified property listed above for which you can take the special depreciation allowance. How to file unemployment taxes Qualified Reuse and Recycling Property You can take a 50% special depreciation allowance for qualified reuse and recycling property. How to file unemployment taxes Qualified reuse and recycling property is any machinery or equipment (not including buildings or real estate), along with any appurtenance, that is used exclusively to collect, distribute, or recycle qualified reuse and recyclable materials (as defined in section 168(m)(3)(B) of the Internal Revenue Code). How to file unemployment taxes Qualified reuse and recycling property also includes software necessary to operate such equipment. How to file unemployment taxes The property must meet the following requirements. How to file unemployment taxes The property must be depreciated under MACRS. How to file unemployment taxes The property must have a useful life of at least 5 years. How to file unemployment taxes The original use of the property must begin with you after August 31, 2008. How to file unemployment taxes You must have acquired the property by purchase (as discussed under Property Acquired by Purchase in chapter 2 ) after August 31, 2008, with no binding written contract for the acquisition in effect before September 1, 2008. How to file unemployment taxes The property must be placed in service for use in your trade or business after August 31, 2008. How to file unemployment taxes Excepted Property Qualified reuse and recycling property does not include any of the following. How to file unemployment taxes Any rolling stock or other equipment used to transport reuse or recyclable materials. How to file unemployment taxes Property required to be depreciated using the Alternative Depreciation System (ADS). How to file unemployment taxes For other property required to be depreciated using ADS, see Required use of ADS under Which Depreciation System (GDS or ADS) Applies , in chapter 4 . How to file unemployment taxes Other bonus depreciation property to which section 168(k) of the Internal Revenue Code applies. How to file unemployment taxes Property for which you elected not to claim any special depreciation allowance (discussed later). How to file unemployment taxes Property placed in service and disposed of in the same tax year. How to file unemployment taxes Property converted from business use to personal use in the same tax year acquired. How to file unemployment taxes Property converted from personal use to business use in the same or later tax year may be qualified reuse and recycling property. How to file unemployment taxes Qualified Cellulosic Biofuel Plant Property You can take a 50% special depreciation allowance for qualified cellulosic biofuel plant property. How to file unemployment taxes Cellulosic biofuel is any liquid fuel which is produced from any lignocellulosic or hemicellulosic matter that is available on a renewable or recurring basis. How to file unemployment taxes Examples include bagasse (from sugar cane), corn stalks, and switchgrass. How to file unemployment taxes The property must meet the following requirements. How to file unemployment taxes The property is used in the United States solely to produce cellulosic biofuel. How to file unemployment taxes The original use of the property must begin with you after December 20, 2006. How to file unemployment taxes You must have acquired the property by purchase (as discussed under Property Acquired by Purchase in chapter 2 ) after December 20, 2006, with no binding written contract for acquisition in effect before December 21, 2006. How to file unemployment taxes The property must be placed in service for use in your trade or business or for the production of income after October 3, 2008, and before January 3, 2013. How to file unemployment taxes Note. How to file unemployment taxes For property placed in service after January 2, 2013, and before January 1, 2014, you can take a 50% special depreciation allowance for qualified second generation biofuel plant property that is used solely in the United States to produce second generation biofuel (as defined in section 40(b)(6)(E)). How to file unemployment taxes The other requirements for qualified second generation biofuel plant property to be eligible for the special depreciation allowance are identical to the requirements discussed for Qualified Cellulosic Biofuel Plant Property above. How to file unemployment taxes Special Rules Sale-leaseback. How to file unemployment taxes   If you sold qualified cellulosic biofuel plant property you placed in service after October 3, 2008, and leased it back within 3 months after you originally placed it in service, the property is treated as originally placed in service no earlier than the date it is used by you under the leaseback. How to file unemployment taxes   The property will not qualify for the special allowance if the lessee or a related person to the lessee or lessor had a written binding contract in effect for the acquisition of the property before December 21, 2006. How to file unemployment taxes Syndicated leasing transactions. How to file unemployment taxes   If qualified cellulosic biofuel plant property is originally placed in service by a lessor after October 3, 2008, the property is sold within 3 months of the date it was placed in service, and the user of the property does not change, then the property is treated as originally placed in service by the taxpayer no earlier than the date of the last sale. How to file unemployment taxes   Multiple units of property subject to the same lease will be treated as originally placed in service no earlier than the date of sale if the property is sold within 3 months after the final unit is placed in service and the period between the times the first and last units are placed in service does not exceed 12 months. How to file unemployment taxes Excepted Property Qualified cellulosic biofuel plant property does not include any of the following. How to file unemployment taxes Property placed in service and disposed of in the same tax year. How to file unemployment taxes Property converted from business use to personal use in the same tax year it is acquired. How to file unemployment taxes Property converted from personal use to business use in the same or later tax year may be qualified cellulosic biomass ethanol plant property. How to file unemployment taxes Property required to be depreciated using the Alternative Depreciation System (ADS). How to file unemployment taxes For other property required to be depreciated using ADS, see Required use of ADS under Which Depreciation System (GDS or ADS) Applies , in chapter 4 . How to file unemployment taxes Property any portion of which is financed with the proceeds of any obligation the interest on which is exempt from tax under section 103 of the Internal Revenue Code. How to file unemployment taxes Property for which you elected not to claim any special depreciation allowance (discussed later). How to file unemployment taxes Property for which a deduction was taken under section 179C for certain qualified refinery property. How to file unemployment taxes Other bonus depreciation property to which section 168(k) of the Internal Revenue Code applies. How to file unemployment taxes Qualified Disaster Assistance Property You can take a 50% special depreciation allowance for qualified disaster assistance property placed in service in federally declared disaster areas in which the disaster occurred in 2009. How to file unemployment taxes A list of the federally declared disaster areas is available at the FEMA website at www. How to file unemployment taxes fema. How to file unemployment taxes gov. How to file unemployment taxes Your property is qualified disaster assistance property if it meets the following requirements. How to file unemployment taxes The property is nonresidential real property or residential real property placed in service before January 1, 2014, in a federally declared disaster area in which the disaster occurred in 2009. How to file unemployment taxes You must have acquired the property by purchase (as discussed under Property Acquired by Purchase in chapter 2 ) on or after the applicable disaster date, with no binding written contract for the acquisition in effect before the applicable disaster date. How to file unemployment taxes The property must rehabilitate property damaged, or replace property destroyed or condemned, as a result of the applicable federally declared disaster. How to file unemployment taxes The property must be similar in nature to, and located in the same county as, the rehabilitated or replaced property. How to file unemployment taxes The original use of the property within the applicable disaster area must have begun with you on or after the applicable disaster date. How to file unemployment taxes The property is placed in service by you on or before the date which is the last day of the fourth calendar year. How to file unemployment taxes Substantially all (80% or more) of the use of the property must be in the active conduct of your trade or business in a federally declared disaster area, occurring in 2009. How to file unemployment taxes It is not excepted property (explained later in Excepted Property ). How to file unemployment taxes Special Rules Sale-leaseback. How to file unemployment taxes   If you sold qualified disaster assistance property you placed in service after the applicable disaster date and leased it back within 3 months after you originally placed it in service, the property is treated as originally placed in service no earlier than the date it is used by you under the leaseback. How to file unemployment taxes   The property will not qualify for the special allowance if the lessee or a related person to the lessee or lessor had a written binding contract in effect for the acquisition of the property before the applicable disaster date. How to file unemployment taxes Syndicated leasing transactions. How to file unemployment taxes   If qualified disaster assistance property is originally placed in service by a lessor after the applicable disaster date, the property is sold within 3 months of the date it was placed in service, and the user of the property does not change, then the property is treated as originally placed in service by the taxpayer no earlier than the date of the last sale. How to file unemployment taxes   Multiple units of property subject to the same lease will be treated as originally placed in service no earlier than the date of sale if the property is sold within 3 months after the final unit is placed in service and the period between the times the first and last units are placed in service does not exceed 12 months. How to file unemployment taxes Excepted Property Qualified disaster assistance property does not include any of the following. How to file unemployment taxes Property required to be depreciated using the Alternative Depreciation System (ADS). How to file unemployment taxes For other property required to be depreciated using ADS, see Required use of ADS under Which Depreciation System (GDS or ADS) Applies , in chapter 4 . How to file unemployment taxes Property any portion of which is financed with the proceeds of a tax-exempt obligation under section 103 of the Internal Revenue Code. How to file unemployment taxes Any qualified revitalization building (defined later) placed in service before January 1, 2010, for which you have elected to claim a commercial revitalization deduction for qualified revitalization expenditures. How to file unemployment taxes Any property used in connection with any private or commercial golf course, country club, massage parlor, hot tub facility, suntan facility, or any store, the principal business of which is the sale of alcoholic beverages for consumption off premises. How to file unemployment taxes Any property for which the special allowance under section 168(k) or section 1400N(d) of the Internal Revenue Code applies. How to file unemployment taxes Property for which you elected not to claim any special depreciation allowance (discussed later). How to file unemployment taxes Property placed in service and disposed of in the same tax year. How to file unemployment taxes Property converted from business use to personal use in the same tax year acquired. How to file unemployment taxes Property converted from personal use to business use in the same or later tax year may be qualified disaster assistance property. How to file unemployment taxes Any gambling or animal racing property (defined later). How to file unemployment taxes Qualified revitalization building. How to file unemployment taxes   This is a commercial building and its structural components that you placed in service in a renewal community before January 1, 2010. How to file unemployment taxes If the building is new, the original use of the building must begin with you. How to file unemployment taxes If the building is not new, you must substantially rehabilitate the building and then place it in service. How to file unemployment taxes For more information, including definitions of substantially rehabilitated building and qualified revitalization expenditure, see section 1400I(b) of the Internal Revenue Code. How to file unemployment taxes Gambling or animal racing property. How to file unemployment taxes   Gambling or animal racing property includes the following personal and real property. How to file unemployment taxes Any equipment, furniture, software, or other property used directly in connection with gambling, the racing of animals, or the on-site viewing of such racing. How to file unemployment taxes Any real property determined by square footage (other than any portion that is less than 100 square feet) that is dedicated to gambling, the racing of animals, or the on-site viewing of such racing. How to file unemployment taxes Certain Qualified Property Acquired After December 31, 2007 You can take a 50% special depreciation deduction allowance for certain qualified property acquired after December 31, 2007. How to file unemployment taxes Your property is qualified property if it meets the following requirements. How to file unemployment taxes It is one of the following types of property. How to file unemployment taxes Tangible property depreciated under MACRS with a recovery period of 20 years or less. How to file unemployment taxes Water utility property. How to file unemployment taxes Computer software that is readily available for purchase by the general public, is subject to a nonexclusive license, and has not been substantially modified. How to file unemployment taxes (The cost of some computer software is treated as part of the cost of hardware and is depreciated under MACRS. How to file unemployment taxes ) Qualified leasehold improvement property (defined under Qualified leasehold improvement property later). How to file unemployment taxes You must have acquired the property after December 31, 2007, with no binding written contract for the acquisition in effect before January 1, 2008. How to file unemployment taxes The property must be placed in service for use in your trade or business or for the production of income before January 1, 2014 (before January 1, 2015, for certain property with a long production period and certain aircraft (defined next)). How to file unemployment taxes The original use of the property must begin with you after December 31, 2007. How to file unemployment taxes It is not excepted property (explained later in Excepted property). How to file unemployment taxes Qualified leasehold improvement property. How to file unemployment taxes    Generally, this is any improvement to an interior part of a building that is nonresidential real property, if all the following requirements are met. How to file unemployment taxes The improvement is made under or according to a lease by the lessee (or any sublessee) or the lessor of that part of the building. How to file unemployment taxes That part of the building is to be occupied exclusively by the lessee (or any sublessee) of that part. How to file unemployment taxes The improvement is placed in service more than 3 years after the date the building was first placed in service by any person. How to file unemployment taxes The improvement is section 1250 property. How to file unemployment taxes See chapter 3 in Publication 544, Sales and Other Dispositions of Assets, for the definition of section 1250 property. How to file unemployment taxes   However, a qualified leasehold improvement does not include any improvement for which the expenditure is attributable to any of the following. How to file unemployment taxes The enlargement of the building. How to file unemployment taxes Any elevator or escalator. How to file unemployment taxes Any structural component benefiting a common area. How to file unemployment taxes The internal structural framework of the building. How to file unemployment taxes   Generally, a binding commitment to enter into a lease is treated as a lease and the parties to the commitment are treated as the lessor and lessee. How to file unemployment taxes However, a lease between related persons is not treated as a lease. How to file unemployment taxes Related persons. How to file unemployment taxes   For this purpose, the following are related persons. How to file unemployment taxes Members of an affiliated group. How to file unemployment taxes An individual and a member of his or her family, including only a spouse, child, parent, brother, sister, half-brother, half-sister, ancestor, and lineal descendant. How to file unemployment taxes A corporation and an individual who directly or indirectly owns 80% or more of the value of the outstanding stock of that corporation. How to file unemployment taxes Two corporations that are members of the same controlled group. How to file unemployment taxes A trust fiduciary and a corporation if 80% or more of the value of the outstanding stock is directly or indirectly owned by or for the trust or grantor of the trust. How to file unemployment taxes The grantor and fiduciary, and the fiduciary and beneficiary, of any trust. How to file unemployment taxes 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. How to file unemployment taxes A tax-exempt educational or charitable organization and any person (or, if that person is an individual, a member of that person's family) who directly or indirectly controls the organization. How to file unemployment taxes Two S corporations, and an S corporation and a regular corporation, if the same persons own 80% or more of the value of the outstanding stock of each corporation. How to file unemployment taxes A corporation and a partnership if the same persons own both of the following. How to file unemployment taxes 80% or more of the value of the outstanding stock of the corporation. How to file unemployment taxes 80% or more of the capital or profits interest in the partnership. How to file unemployment taxes The executor and beneficiary of any estate. How to file unemployment taxes Long Production Period Property To be qualified property, long production period property must meet the following requirements. How to file unemployment taxes It must meet the requirements in (2)-(5), above. How to file unemployment taxes The property has a recovery period of at least 10 years or is transportation property. How to file unemployment taxes Transportation property is tangible personal property used in the trade or business of transporting persons or property. How to file unemployment taxes The property is subject to section 263A of the Internal Revenue Code. How to file unemployment taxes The property has an estimated production period exceeding 1 year and an estimated production cost exceeding $1,000,000. How to file unemployment taxes Noncommercial Aircraft To be qualified property, noncommercial aircraft must meet the following requirements. How to file unemployment taxes It must meet the requirements in (2)-(5), above. How to file unemployment taxes The aircraft must not be tangible personal property used in the trade or business of transporting persons or property (except for agricultural or firefighting purposes). How to file unemployment taxes The aircraft must be purchased (as discussed under Property Acquired by Purchase in chapter 2 ) by a purchaser who at the time of the contract for purchase, makes a nonrefundable deposit of the lesser of 10% of the cost or $100,000. How to file unemployment taxes The aircraft must have an estimated production period exceeding four months and a cost exceeding $200,000. How to file unemployment taxes Special Rules Sale-leaseback. How to file unemployment taxes   If you sold qualified property you placed in service after December 31, 2007, and leased it back within 3 months after you originally placed in service, the property is treated as originally placed in service no earlier than the date it is used by you under the leaseback. How to file unemployment taxes   The property will not qualify for the special depreciation allowance if the lessee or a related person to the lessee or lessor had a written binding contract in effect for the acquisition of the property before January 1, 2008. How to file unemployment taxes Syndicated leasing transactions. How to file unemployment taxes   If qualified property is originally placed in service by a lessor after December 31, 2007, the property is sold within 3 months of the date it was placed in service, and the user of the property does not change, then the property is treated as originally placed in service by the taxpayer no earlier than the date of the last sale. How to file unemployment taxes   Multiple units of property subject to the same lease will be treated as originally placed in service no earlier than the date of the last sale if the property is sold within 3 months after the final unit is placed in service and the period between the time the first and last units are placed in service does not exceed 12 months. How to file unemployment taxes Excepted Property Qualified property does not include any of the following. How to file unemployment taxes Property placed in service and disposed of in the same tax year. How to file unemployment taxes Property converted from business use to personal use in the same tax year acquired. How to file unemployment taxes Property converted from personal use to business use in the same or later tax year may be qualified property. How to file unemployment taxes Property required to be depreciated under the Alternative Depreciation System (ADS). How to file unemployment taxes This includes listed property used 50% or less in a qualified business use. How to file unemployment taxes For other property required to be depreciated using ADS, see Required use of ADS under Which Depreciation System (GDS or ADS) Applies , in chapter 4 . How to file unemployment taxes Qualified restaurant property (as defined in section 168(e)(7) of the Internal Revenue Code). How to file unemployment taxes Qualified retail improvement property (as defined in section 168(e)(8) of the Internal Revenue Code). How to file unemployment taxes Property for which you elected not to claim any special depreciation allowance (discussed later). How to file unemployment taxes Property for which you elected to accelerate certain credits in lieu of the special depreciation allowance (discussed next). How to file unemployment taxes Election to Accelerate Certain Credits in Lieu of the Special Depreciation Allowance An election made by a corporation to claim pre-2006 unused minimum tax credits in lieu of claiming the special depreciation allowance for either its first tax year ending after March 31, 2008, its first tax year ending after December 31, 2008, or its first tax year ending after December 31, 2010, continues to apply to round 2 extension property (as defined in section 168(k)(4)(I)(iv)), unless the corporation made an election not to apply the section 168(k)(4) election to round 2 extension property for its first tax year ending after December 31, 2010. How to file unemployment taxes For 2013, round 2 extension property generally is long production period and noncommercial aircraft if acquired after March 31, 2008, and placed in service after December 31, 2012, but before January 1, 2014. How to file unemployment taxes An election made by a corporation to claim pre-2006 unused minimum tax credits in lieu of claiming the special depreciation allowance for either its first tax year ending after March 31, 2008, its first tax year ending after December 31, 2008, or its first tax year ending after December 31, 2010, continues to apply to round 3 extension property (as defined in section 168(k)(4)(J)(iv)), unless the corporation makes an election not to apply the section 168(k)(4) election to round 3 extension property. How to file unemployment taxes If a corporation did not make a section 168(k)(4) election for either its first tax year ending after March 31, 2008, its first tax year ending after December 31, 2008, or its first tax year ending after December 31, 2010, the corporation may elect for its first tax year ending after December 31, 2012, to claim pre-2006 unused minimum tax credits in lieu of claiming the special depreciation allowance for only round 3 extension property. How to file unemployment taxes If you make an election to accelerate these credits in lieu of claiming the special depreciation allowance for eligible property, you must not take the 50% special depreciation allowance for the property and must depreciate the basis in the property under MACRS using the straight line method. How to file unemployment taxes See Which Depreciation Method Applies in chapter 4 . How to file unemployment taxes Once made, the election cannot be revoked without IRS consent. How to file unemployment taxes Additional guidance. How to file unemployment taxes   For additional guidance on the election to accelerate the research or minimum tax credit in lieu of claiming the special depreciation allowance, see Rev. How to file unemployment taxes Proc. How to file unemployment taxes 2008-65 on page 1082 of Internal Revenue Bulletin 2008-44, available at www. How to file unemployment taxes irs. How to file unemployment taxes gov/pub/irs-irbs/irb08-44. How to file unemployment taxes pdf, Rev. How to file unemployment taxes Proc. How to file unemployment taxes 2009-16 on page 449 of Internal Revenue Bulletin 2009-06, available at www. How to file unemployment taxes irs. How to file unemployment taxes gov/pub/irs-irbs/irb09-06. How to file unemployment taxes pdf, and Rev. How to file unemployment taxes Proc. How to file unemployment taxes 2009-33 on page 150 of Internal Revenue Bulletin 2009-29, available at www. How to file unemployment taxes irs. How to file unemployment taxes gov/pub/irs-irbs/irb09-29. How to file unemployment taxes pdf. How to file unemployment taxes Also, see Form 3800, General Business Credit; Form 8827, Credit for Prior Year Minimum Tax — Corporations; and related instructions. How to file unemployment taxes   Additional guidance regarding the election to accelerate the minimum tax credit in lieu of claiming the special depreciation allowance for round 2 extension property and round 3 extension property may also be available in later Internal Revenue Bulletins available at www. How to file unemployment taxes irs. How to file unemployment taxes gov/irb. How to file unemployment taxes How Much Can You Deduct? Figure the special depreciation allowance by multiplying the depreciable basis of qualified reuse and recycling property, qualified cellulosic biofuel plant property, qualified disaster assistance property, and certain qualified property acquired after December 31, 2007, by 50%. How to file unemployment taxes For qualified property other than listed property, enter the special allowance on line 14 in Part II of Form 4562. How to file unemployment taxes For qualified property that is listed property, enter the special allowance on line 25 in Part V of Form 4562. How to file unemployment taxes If you place qualified property in service in a short tax year, you can take the full amount of a special depreciation allowance. How to file unemployment taxes Depreciable basis. How to file unemployment taxes   This is the property's cost or other basis multiplied by the percentage of business/investment use, reduced by the total amount of any credits and deductions allocable to the property. How to file unemployment taxes   The following are examples of some credits and deductions that reduce depreciable basis. How to file unemployment taxes Any section 179 deduction. How to file unemployment taxes Any deduction for removal of barriers to the disabled and the elderly. How to file unemployment taxes Any disabled access credit, enhanced oil recovery credit, and credit for employer-provided childcare facilities and services. How to file unemployment taxes Basis adjustment to investment credit property under section 50(c) of the Internal Revenue Code. How to file unemployment taxes   For additional credits and deductions that affect basis, see section 1016 of the Internal Revenue Code. How to file unemployment taxes   For information about how to determine the cost or other basis of property, see What Is the Basis of Your Depreciable Property in chapter 1 . How to file unemployment taxes For a discussion of business/investment use, see Partial business or investment use under Property Used in Your Business or Income-Producing Activity in chapter 1 . How to file unemployment taxes Depreciating the remaining cost. How to file unemployment taxes   After you figure your special depreciation allowance for your qualified property, you can use the remaining cost to figure your regular MACRS depreciation deduction (discussed in chapter 4 . How to file unemployment taxes Therefore, you must reduce the depreciable basis of the property by the special depreciation allowance before figuring your regular MACRS depreciation deduction. How to file unemployment taxes Example. How to file unemployment taxes On November 1, 2013, Tom Brown bought and placed in service in his business qualified property that cost $450,000. How to file unemployment taxes He did not elect to claim a section 179 deduction. How to file unemployment taxes He deducts 50% of the cost ($225,000) as a special depreciation allowance for 2013. How to file unemployment taxes He uses the remaining $225,000 of cost to figure his regular MACRS depreciation deduction for 2013 and later years. How to file unemployment taxes Like-kind exchanges and involuntary conversions. How to file unemployment taxes   If you acquire qualified property in a like-kind exchange or involuntary conversion, the carryover basis of the acquired property is eligible for a special depreciation allowance. How to file unemployment taxes After you figure your special allowance, you can use the remaining carryover basis to figure your regular MACRS depreciation deduction. How to file unemployment taxes In the year you claim the allowance (the year you place in service the property received in the exchange or dispose of involuntarily converted property), you must reduce the carryover basis of the property by the allowance before figuring your regular MACRS depreciation deduction. How to file unemployment taxes See Figuring the Deduction for Property Acquired in a Nontaxable Exchange , in chapter 4 under How Is the Depreciation Deduction Figured . How to file unemployment taxes The excess basis (the part of the acquired property's basis that exceeds its carryover basis) is also eligible for a special depreciation allowance. How to file unemployment taxes How Can You Elect Not To Claim an Allowance? You can elect, for any class of property, not to deduct any special allowances for all property in such class placed in service during the tax year. How to file unemployment taxes To make an election, attach a statement to your return indicating what election you are making and the class of property for which you are making the election. How to file unemployment taxes When to make election. How to file unemployment taxes   Generally, you must make the election on a timely filed tax return (including extensions) for the year in which you place the property in service. How to file unemployment taxes   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 original return (not including extensions). How to file unemployment taxes Attach the election statement to the amended return. How to file unemployment taxes On the amended return, write “Filed pursuant to section 301. How to file unemployment taxes 9100-2. How to file unemployment taxes ” Revoking an election. How to file unemployment taxes   Once you elect not to deduct a special depreciation allowance for a class of property, you cannot revoke the election without IRS consent. How to file unemployment taxes A request to revoke the election is a request for a letter ruling. How to file unemployment taxes If you elect not to have any special allowance apply, the property may be subject to an alternative minimum tax adjustment for depreciation. How to file unemployment taxes When Must You Recapture an Allowance? When you dispose of property for which you claimed a special depreciation allowance, any gain on the disposition is generally recaptured (included in income) as ordinary income up to the amount of the special depreciation allowance previously allowed or allowable. How to file unemployment taxes See When Do You Recapture MACRS Depreciation in chapter 4 or more information. How to file unemployment taxes Recapture of allowance deducted for qualified GO Zone property. How to file unemployment taxes   If, in any year after the year you claim the special depreciation allowance for qualified GO Zone property (including specified GO Zone extension property), the property ceases to be used in the GO Zone, you may have to recapture as ordinary income the excess benefit you received from claiming the special depreciation allowance. How to file unemployment taxes For additional guidance, see Notice 2008-25 on page 484 of Internal Revenue Bulletin 2008-9. How to file unemployment taxes Qualified cellulosic biomass ethanol plant property and qualified cellulosic biofuel plant property. How to file unemployment taxes   If, in any year after the year you claim the special depreciation allowance for any qualified cellulosic biomass ethanol plant property or qualified biofuel plant property, the property ceases to be qualified cellulosic biomass ethanol plant property or qualified biofuel plant property, you may have to recapture as ordinary income the excess benefit you received from claiming the special depreciation allowance. How to file unemployment taxes Recapture of allowance for qualified Recovery Assistance property. How to file unemployment taxes   If, in any year after the year you claim the special depreciation allowance for qualified Recovery Assistance property, the property ceases to be used in the Kansas disaster area, you may have to recapture as ordinary income the excess benefit you received from claiming the special depreciation allowance. How to file unemployment taxes For additional guidance, see Notice 2008-67 on page 307 of Internal Revenue Bulletin 2008-32. How to file unemployment taxes Recapture of allowance for qualified disaster assistance property. How to file unemployment taxes   If, in any year after the year you claim the special depreciation allowance for qualified disaster assistance property, the property ceases to be used in the applicable disaster area, you may have to recapture as ordinary income the excess benefit you received from claiming the special depreciation allowance. How to file unemployment taxes   For additional guidance, see Notice 2008-67 on page 307 of Internal Revenue Bulletin 2008-32. How to file unemployment taxes Prev  Up  Next   Home   More Online Publications