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Irs Form 1040v

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Irs Form 1040v

Irs form 1040v 4. Irs form 1040v   Reporting Gains and Losses Table of Contents Introduction Topics - This chapter discusses: Useful Items - You may want to see: Information Returns Schedule D and Form 8949Long and Short Term Net Gain or Loss Treatment of Capital Losses Capital Gains Tax Rates Form 4797Mark-to-market election. Irs form 1040v Introduction This chapter explains how to report capital gains and losses and ordinary gains and losses from sales, exchanges, and other dispositions of property. Irs form 1040v Although this discussion refers to Schedule D (Form 1040) and Form 8949, many of the rules discussed here also apply to taxpayers other than individuals. Irs form 1040v However, the rules for property held for personal use usually will not apply to taxpayers other than individuals. Irs form 1040v Topics - This chapter discusses: Information returns Schedule D (Form 1040) Form 4797 Form 8949 Useful Items - You may want to see: Publication 550 Investment Income and Expenses 537 Installment Sales Form (and Instructions) Schedule D (Form 1040) Capital Gains and Losses 1099-B Proceeds From Broker and Barter Exchange Transactions 1099-S Proceeds From Real Estate Transactions 4684 Casualties and Thefts 4797 Sales of Business Property 6252 Installment Sale Income 6781 Gains and Losses from Section 1256 Contracts and Straddles 8824 Like-Kind Exchanges 8949 Sales and Other Dispositions of Capital Assets See chapter 5 for information about getting publications and forms. Irs form 1040v Information Returns If you sell or exchange certain assets, you should receive an information return showing the proceeds of the sale. Irs form 1040v This information is also provided to the IRS. Irs form 1040v Form 1099-B. Irs form 1040v   If you sold property, such as stocks, bonds, or certain commodities, through a broker, you should receive Form 1099-B, Proceeds From Broker and Barter Exchange Transactions, or a substitute statement from the broker. Irs form 1040v Use the Form 1099-B or a substitute statement to complete Form 8949 and/or Schedule D. Irs form 1040v Whether or not you receive 1099-B, you must report all taxable sales of stock, bonds, commodities, etc. Irs form 1040v on Form 8949 and/or Schedule D, as applicable. Irs form 1040v For more information on figuring gains and losses from these transactions, see chapter 4 in Publication 550. Irs form 1040v For information on reporting the gains and losses, see the Instructions for Form 8949 and the Instructions for Schedule D (Form 1040). Irs form 1040v Form 1099-S. Irs form 1040v   An information return must be provided on certain real estate transactions. Irs form 1040v Generally, the person responsible for closing the transaction (the “real estate reporting person”) must report on Form 1099-S sales or exchanges of the following types of property. Irs form 1040v Land (improved or unimproved), including air space. Irs form 1040v An inherently permanent structure, including any residential, commercial, or industrial building. Irs form 1040v A condominium unit and its related fixtures and common elements (including land). Irs form 1040v Stock in a cooperative housing corporation. Irs form 1040v If you sold or exchanged any of the above types of property, the “real estate reporting person” must give you a copy of Form 1099-S or a statement containing the same information as the Form 1099-S. Irs form 1040v The “real estate reporting person” could include the buyer's attorney, your attorney, the title or escrow company, a mortgage lender, your broker, the buyer's broker, or the person acquiring the biggest interest in the property. Irs form 1040v   For more information see chapter 4 in Publication 550. Irs form 1040v Also, see the Instructions for Form 8949. Irs form 1040v Schedule D and Form 8949 Form 8949. Irs form 1040v   Individuals, corporations, and partnerships, use Form 8949 to report the following. Irs form 1040v    Sales or exchanges of capital assets, including stocks, bonds, etc. Irs form 1040v , and real estate (if not reported on another form or schedule such as Form 4684, 4797, 6252, 6781, or 8824). Irs form 1040v Include these transactions even if you did not receive a Form 1099-B or 1099-S. Irs form 1040v Gains from involuntary conversions (other than from casualty or theft) of capital assets not held for business or profit. Irs form 1040v Nonbusiness bad debts. Irs form 1040v   Individuals, If you are filing a joint return, complete as many copies of Form 8949 as you need to report all of your and your spouse's transactions. Irs form 1040v You and your spouse may list your transactions on separate forms or you may combine them. Irs form 1040v However, you must include on your Schedule D the totals from all Forms 8949 for both you and your spouse. Irs form 1040v    Corporations and electing large partnerships also use Form 8949 to report their share of gain or loss from a partnership, S Corporation, estate or trust. Irs form 1040v   Business entities meeting certain criteria, may have an exception to some of the normal requirements for completing Form 8949. Irs form 1040v See the Instructions for Form 8949. Irs form 1040v Schedule D. Irs form 1040v    Use Schedule D (Form 1040) to figure the overall gain or loss from transactions reported on Form 8949, and to report certain transactions you do not have to report on Form 8949. Irs form 1040v Before completing Schedule D, you may have to complete other forms as shown below. Irs form 1040v    Complete all applicable lines of Form 8949 before completing lines 1b, 2, 3, 8b, 9, or 10 of your applicable Schedule D. Irs form 1040v Enter on Schedule D the combined totals from all your Forms 8949. Irs form 1040v For a sale, exchange, or involuntary conversion of business property, complete Form 4797 (discussed later). Irs form 1040v For a like-kind exchange, complete Form 8824. Irs form 1040v See Reporting the exchange under Like-Kind Exchanges in chapter 1. Irs form 1040v For an installment sale, complete Form 6252. Irs form 1040v See Publication 537. Irs form 1040v For an involuntary conversion due to casualty or theft, complete Form 4684. Irs form 1040v See Publication 547, Casualties, Disasters, and Thefts. Irs form 1040v For a disposition of an interest in, or property used in, an activity to which the at-risk rules apply, complete Form 6198, At-Risk Limitations. Irs form 1040v See Publication 925, Passive Activity and At-Risk Rules. Irs form 1040v For a disposition of an interest in, or property used in, a passive activity, complete Form 8582, Passive Activity Loss Limitations. Irs form 1040v See Publication 925. Irs form 1040v For gains and losses from section 1256 contracts and straddles, complete Form 6781. Irs form 1040v See Publication 550. Irs form 1040v Personal-use property. Irs form 1040v   Report gain on the sale or exchange of property held for personal use (such as your home) on Form 8949 and Schedule D (Form 1040), as applicable. Irs form 1040v Loss from the sale or exchange of property held for personal use is not deductible. Irs form 1040v But if you had a loss from the sale or exchange of real estate held for personal use for which you received a Form 1099-S, report the transaction on Form 8949 and Schedule D, even though the loss is not deductible. Irs form 1040v See the Instructions for Schedule D (Form 1040) and the Instructions for Form 8949 for information on how to report the transaction. Irs form 1040v Long and Short Term Where you report a capital gain or loss depends on how long you own the asset before you sell or exchange it. Irs form 1040v The time you own an asset before disposing of it is the holding period. Irs form 1040v If you received a Form 1099-B, (or substitute statement) box 1c may help you determine whether the gain or loss is short-term or long-term. Irs form 1040v If you hold a capital asset 1 year or less, the gain or loss from its disposition is short term. Irs form 1040v Report it in Part I of Form 8949 and/or Schedule D, as applicable. Irs form 1040v If you hold a capital asset longer than 1 year, the gain or loss from its disposition is long term. Irs form 1040v Report it in Part II of Form 8949 and/or Schedule D, as applicable. Irs form 1040v   Table 4-1. Irs form 1040v Do I Have a Short-Term or Long-Term Gain or Loss? IF you hold the property. Irs form 1040v . Irs form 1040v . Irs form 1040v  THEN you have a. Irs form 1040v . Irs form 1040v . Irs form 1040v 1 year or less, Short-term capital gain or  loss. Irs form 1040v More than 1 year, Long-term capital gain or  loss. Irs form 1040v These distinctions are essential to correctly arrive at your net capital gain or loss. Irs form 1040v Capital losses are allowed in full against capital gains plus up to $3,000 of ordinary income. Irs form 1040v See Capital Gains Tax Rates, later. Irs form 1040v Holding period. Irs form 1040v   To figure if you held property longer than 1 year, start counting on the day following the day you acquired the property. Irs form 1040v The day you disposed of the property is part of your holding period. Irs form 1040v Example. Irs form 1040v If you bought an asset on June 19, 2012, you should start counting on June 20, 2012. Irs form 1040v If you sold the asset on June 19, 2013, your holding period is not longer than 1 year, but if you sold it on June 20, 2013, your holding period is longer than 1 year. Irs form 1040v Patent property. Irs form 1040v   If you dispose of patent property, you generally are considered to have held the property longer than 1 year, no matter how long you actually held it. Irs form 1040v For more information, see Patents in chapter 2. Irs form 1040v Inherited property. Irs form 1040v   If you inherit property, you are considered to have held the property longer than 1 year, regardless of how long you actually held it. Irs form 1040v Installment sale. Irs form 1040v   The gain from an installment sale of an asset qualifying for long-term capital gain treatment in the year of sale continues to be long term in later tax years. Irs form 1040v If it is short term in the year of sale, it continues to be short term when payments are received in later tax years. Irs form 1040v    The date the installment payment is received determines the capital gains rate that should be applied not the date the asset was sold under an installment contract. Irs form 1040v Nontaxable exchange. Irs form 1040v   If you acquire an asset in exchange for another asset and your basis for the new asset is figured, in whole or in part, by using your basis in the old property, the holding period of the new property includes the holding period of the old property. Irs form 1040v That is, it begins on the same day as your holding period for the old property. Irs form 1040v Example. Irs form 1040v You bought machinery on December 4, 2012. Irs form 1040v On June 4, 2013, you traded this machinery for other machinery in a nontaxable exchange. Irs form 1040v On December 5, 2013, you sold the machinery you got in the exchange. Irs form 1040v Your holding period for this machinery began on December 5, 2012. Irs form 1040v Therefore, you held it longer than 1 year. Irs form 1040v Corporate liquidation. Irs form 1040v   The holding period for property you receive in a liquidation generally starts on the day after you receive it if gain or loss is recognized. Irs form 1040v Profit-sharing plan. Irs form 1040v   The holding period of common stock withdrawn from a qualified contributory profit-sharing plan begins on the day following the day the plan trustee delivered the stock to the transfer agent with instructions to reissue the stock in your name. Irs form 1040v Gift. Irs form 1040v   If you receive a gift of property and your basis in it is figured using the donor's basis, your holding period includes the donor's holding period. Irs form 1040v For more information on basis, see Publication 551, Basis of Assets. Irs form 1040v Real property. Irs form 1040v   To figure how long you held real property, start counting on the day after you received title to it or, if earlier, the day after you took possession of it and assumed the burdens and privileges of ownership. Irs form 1040v   However, taking possession of real property under an option agreement is not enough to start the holding period. Irs form 1040v The holding period cannot start until there is an actual contract of sale. Irs form 1040v The holding period of the seller cannot end before that time. Irs form 1040v Repossession. Irs form 1040v   If you sell real property but keep a security interest in it and then later repossess it, your holding period for a later sale includes the period you held the property before the original sale, as well as the period after the repossession. Irs form 1040v Your holding period does not include the time between the original sale and the repossession. Irs form 1040v That is, it does not include the period during which the first buyer held the property. Irs form 1040v Nonbusiness bad debts. Irs form 1040v   Nonbusiness bad debts are short-term capital losses. Irs form 1040v For information on nonbusiness bad debts, see chapter 4 of Publication 550. Irs form 1040v    Net Gain or Loss The totals for short-term capital gains and losses and the totals for long-term capital gains and losses must be figured separately. Irs form 1040v Net short-term capital gain or loss. Irs form 1040v   Combine your short-term capital gains and losses, including your share of short-term capital gains or losses from partnerships, S corporations, and fiduciaries and any short-term capital loss carryover. Irs form 1040v Do this by adding all your short-term capital gains. Irs form 1040v Then add all your short-term capital losses. Irs form 1040v Subtract the lesser total from the other. Irs form 1040v The result is your net short-term capital gain or loss. Irs form 1040v Net long-term capital gain or loss. Irs form 1040v   Follow the same steps to combine your long-term capital gains and losses. Irs form 1040v Include the following items. Irs form 1040v Net section 1231 gain from Part I, Form 4797, after any adjustment for nonrecaptured section 1231 losses from prior tax years. Irs form 1040v Capital gain distributions from regulated investment companies (mutual funds) and real estate investment trusts. Irs form 1040v Your share of long-term capital gains or losses from partnerships, S corporations, and fiduciaries. Irs form 1040v Any long-term capital loss carryover. Irs form 1040v The result from combining these items with other long-term capital gains and losses is your net long-term capital gain or loss. Irs form 1040v Net gain. Irs form 1040v   If the total of your capital gains is more than the total of your capital losses, the difference is taxable. Irs form 1040v Different tax rates may apply to the part that is a net capital gain. Irs form 1040v See Capital Gains Tax Rates, later. Irs form 1040v Net loss. Irs form 1040v   If the total of your capital losses is more than the total of your capital gains, the difference is deductible. Irs form 1040v But there are limits on how much loss you can deduct and when you can deduct it. Irs form 1040v See Treatment of Capital Losses, next. Irs form 1040v    Treatment of Capital Losses If your capital losses are more than your capital gains, you can deduct the difference as a capital loss deduction even if you do not have ordinary income to offset it. Irs form 1040v The yearly limit on the amount of the capital loss you can deduct is $3,000 ($1,500 if you are married and file a separate return). Irs form 1040v Table 4-2. Irs form 1040v Holding Period for Different Types of Acquisitions Type of acquisition: When your holding period starts: Stocks and bonds bought on a securities market Day after trading date you bought security. Irs form 1040v Ends on trading date you sold security. Irs form 1040v U. Irs form 1040v S. Irs form 1040v Treasury notes and bonds If bought at auction, day after notification of bid acceptance. Irs form 1040v If bought through subscription, day after subscription was submitted. Irs form 1040v Nontaxable exchanges Day after date you acquired old property. Irs form 1040v Gift If your basis is giver's adjusted basis, same day as giver's holding period began. Irs form 1040v If your basis is FMV, day after date of gift. Irs form 1040v Real property bought Generally, day after date you received title to the property. Irs form 1040v Real property repossessed Day after date you originally received title to the property, but does not include time between the original sale and date of repossession. Irs form 1040v Capital loss carryover. Irs form 1040v   Generally, you have a capital loss carryover if either of the following situations applies to you. Irs form 1040v Your net loss is more than the yearly limit. Irs form 1040v Your taxable income without your deduction for exemptions is less than zero. Irs form 1040v If either of these situations applies to you for 2013, see Capital Losses under Reporting Capital Gains and Losses in chapter 4 of Publication 550 to figure the amount you can carryover to 2014. Irs form 1040v Example. Irs form 1040v Bob and Gloria Sampson sold property in 2013. Irs form 1040v The sale resulted in a capital loss of $7,000. Irs form 1040v The Sampsons had no other capital transactions. Irs form 1040v On their joint 2013 return, the Sampsons deduct $3,000, the yearly limit. Irs form 1040v They had taxable income of $2,000. Irs form 1040v The unused part of the loss, $4,000 ($7,000 − $3,000), is carried over to 2014. Irs form 1040v If the Sampsons' capital loss had been $2,000, it would not have been more than the yearly limit. Irs form 1040v Their capital loss deduction would have been $2,000. Irs form 1040v They would have no carryover to 2014. Irs form 1040v Short-term and long-term losses. Irs form 1040v   When you carry over a loss, it retains its original character as either long term or short term. Irs form 1040v A short-term loss you carry over to the next tax year is added to short-term losses occurring in that year. Irs form 1040v A long-term loss you carry over to the next tax year is added to long-term losses occurring in that year. Irs form 1040v A long-term capital loss you carry over to the next year reduces that year's long-term gains before its short-term gains. Irs form 1040v   If you have both short-term and long-term losses, your short-term losses are used first against your allowable capital loss deduction. Irs form 1040v If, after using your short-term losses, you have not reached the limit on the capital loss deduction, use your long-term losses until you reach the limit. Irs form 1040v To figure your capital loss carryover from 2013 to 2014 use the Capital Loss Carryover Worksheet in the 2013 Instructions for Schedule D (Form 1040). Irs form 1040v Joint and separate returns. Irs form 1040v   On a joint return, the capital gains and losses of spouses are figured as the gains and losses of an individual. Irs form 1040v If you are married and filing a separate return, your yearly capital loss deduction is limited to $1,500. Irs form 1040v Neither you nor your spouse can deduct any part of the other's loss. Irs form 1040v   If you and your spouse once filed separate returns and are now filing a joint return, combine your separate capital loss carryovers. Irs form 1040v However, if you and your spouse once filed jointly and are now filing separately, any capital loss carryover from the joint return can be deducted only on the return of the spouse who actually had the loss. Irs form 1040v Death of taxpayer. Irs form 1040v   Capital losses cannot be carried over after a taxpayer's death. Irs form 1040v They are deductible only on the final income tax return filed on the decedent's behalf. Irs form 1040v The yearly limit discussed earlier still applies in this situation. Irs form 1040v Even if the loss is greater than the limit, the decedent's estate cannot deduct the difference or carry it over to following years. Irs form 1040v Corporations. Irs form 1040v   A corporation can deduct capital losses only up to the amount of its capital gains. Irs form 1040v In other words, if a corporation has a net capital loss, it cannot be deducted in the current tax year. Irs form 1040v It must be carried to other tax years and deducted from capital gains occurring in those years. Irs form 1040v For more information, see Publication 542. Irs form 1040v Capital Gains Tax Rates The tax rates that apply to a net capital gain are generally lower than the tax rates that apply to other income. Irs form 1040v These lower rates are called the maximum capital gains rates. Irs form 1040v The term “net capital gain” means the amount by which your net long-term capital gain for the year is more than your net short-term capital loss. Irs form 1040v For 2013, the maximum tax rates for individuals are 0%, 15%, 20%, 25%, and 28%. Irs form 1040v Also, individuals, use the Qualified Dividends and Capital Gain Worksheet in the Instructions for Form 1040, or the Schedule D Tax Computation Worksheet in the Instructions for Schedule D (Form 1040) (whichever applies) to figure your tax if you have qualified dividends or net capital gain. Irs form 1040v For more information, see chapter 4 of Publication 550. Irs form 1040v Also see the Instructions for Schedule D (Form 1040). Irs form 1040v Unrecaptured section 1250 gain. Irs form 1040v   Generally, this is the part of any long-term capital gain on section 1250 property (real property) that is due to depreciation. Irs form 1040v Unrecaptured section 1250 gain cannot be more than the net section 1231 gain or include any gain otherwise treated as ordinary income. Irs form 1040v Use the worksheet in the Schedule D instructions to figure your unrecaptured section 1250 gain. Irs form 1040v For more information about section 1250 property and net section 1231 gain, see chapter 3. Irs form 1040v Form 4797 Use Form 4797 to report: The sale or exchange of: Property used in your trade or business; Depreciable and amortizable property; Oil, gas, geothermal, or other mineral properties; and Section 126 property. Irs form 1040v The involuntary conversion (from other than casualty or theft) of property used in your trade or business and capital assets held in connection with a trade or business or a transaction entered into for profit. Irs form 1040v The disposition of noncapital assets (other than inventory or property held primarily for sale to customers in the ordinary course of your trade or business). Irs form 1040v The disposition of capital assets not reported on Schedule D. Irs form 1040v The gain or loss (including any related recapture) for partners and S corporation shareholders from certain section 179 property dispositions by partnerships (other than electing large partnerships) and S corporations. Irs form 1040v The computation of recapture amounts under sections 179 and 280F(b)(2) when the business use of section 179 or listed property decreases to 50% or less. Irs form 1040v Gains or losses treated as ordinary gains or losses, if you are a trader in securities or commodities and made a mark-to-market election under Internal Revenue Code section 475(f). Irs form 1040v You can use Form 4797 with Form 1040, 1065, 1120, or 1120S. Irs form 1040v Section 1231 gains and losses. Irs form 1040v   Show any section 1231 gains and losses in Part I. Irs form 1040v Carry a net gain to Schedule D (Form 1040) as a long-term capital gain. Irs form 1040v Carry a net loss to Part II of Form 4797 as an ordinary loss. Irs form 1040v   If you had any nonrecaptured net section 1231 losses from the preceding 5 tax years, reduce your net gain by those losses and report the amount of the reduction as an ordinary gain in Part II. Irs form 1040v Report any remaining gain on Schedule D (Form 1040). Irs form 1040v See Section 1231 Gains and Losses in chapter 3. Irs form 1040v Ordinary gains and losses. Irs form 1040v   Show any ordinary gains and losses in Part II. Irs form 1040v This includes a net loss or a recapture of losses from prior years figured in Part I of Form 4797. Irs form 1040v It also includes ordinary gain figured in Part III. Irs form 1040v Mark-to-market election. Irs form 1040v   If you made a mark-to-market election, you should report all gains and losses from trading as ordinary gains and losses in Part II of Form 4797, instead of as capital gains and losses on Form 8949 and Schedule D (Form 1040). Irs form 1040v See the Instructions for Form 4797. Irs form 1040v Also see Special Rules for Traders in Securities, in chapter 4 of Publication 550. Irs form 1040v Ordinary income from depreciation. Irs form 1040v   Figure the ordinary income from depreciation on personal property and additional depreciation on real property (as discussed in chapter 3) in Part III. Irs form 1040v Carry the ordinary income to Part II of Form 4797 as an ordinary gain. Irs form 1040v Carry any remaining gain to Part I as section 1231 gain, unless it is from a casualty or theft. Irs form 1040v Carry any remaining gain from a casualty or theft to Form 4684. Irs form 1040v Prev  Up  Next   Home   More Online Publications
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John F. Kennedy Center for the Performing Arts

The John F. Kennedy Center for the Performing Arts is a living memorial to President John F. Kennedy. The Center offers a wide range of performances, inlcuding frequent free or low-cost performances. The Center also runs a number of educational and outreach programs.

Contact the Agency or Department

Website: John F. Kennedy Center for the Performing Arts Tonight's Free Live Stream from the Kennedy Center

Address: 2700 F St NW
Washington, DC 20566

Phone Number: (202) 467-4600

Toll-free: (800) 444-1324

The Irs Form 1040v

Irs form 1040v Publication 946 - Introductory Material Table of Contents What's New for 2013 What's New for 2014 Reminders IntroductionOrdering forms and publications. Irs form 1040v Tax questions. Irs form 1040v What's New for 2013 Increased section 179 deduction dollar limits. Irs form 1040v  The maximum amount you can elect to deduct for most section 179 property you placed in service in 2013 is $500,000 ($535,000 for qualified enterprise zone property). Irs form 1040v This limit is reduced by the amount by which the cost of the property placed in service during the tax year exceeds $2,000,000. Irs form 1040v See Dollar Limits under How Much Can You Deduct in chapter 2. Irs form 1040v Depreciation limits on business vehicles. Irs form 1040v  The total section 179 deduction and depreciation you can deduct for a passenger automobile (that is not a truck or van) you use in your business and first placed in service in 2013 is $3,160, if the special depreciation allowance does not apply. Irs form 1040v The maximum deduction you can take for a truck or van you use in your business and first placed in service in 2013 is $3,360, if the special depreciation allowance does not apply. Irs form 1040v See Maximum Depreciation Deduction in chapter 5. Irs form 1040v Special allowance for qualified second generation biofuel plant property. Irs form 1040v . Irs form 1040v  For tax years ending after December 31, 2012, you may be able to take a 50% special depreciation allowance for qualified second generation biofuel plant property placed in service after January 2, 2013, and before January 1, 2014. Irs form 1040v Election to accelerate minimum tax credits for round 3 extension property. Irs form 1040v . Irs form 1040v  For tax years ending after December 31, 2012, a corporation can elect to claim pre-2006 unused minimum tax credits in lieu of the special depreciation allowance for round 3 extension property. Irs form 1040v What's New for 2014 Expiration of the increased section 179 deduction limits and expanded definition of section 179 property. Irs form 1040v  For tax years beginning after 2013, the increased section 179 expense deduction limit and threshold amount before reduction in limitation will no longer apply. Irs form 1040v Also, the definition of section 179 property will no longer include certain qualified real property. Irs form 1040v Expiration of the 7-year recovery period for motor sports entertainment complexes. Irs form 1040v  Qualified motor sports entertainment complex property placed in service after December 31, 2013, will not be treated as 7-year property under MACRS. Irs form 1040v Expiration of the 15-year recovery period for qualified leasehold improvement, restaurant, and retail improvement properties. Irs form 1040v  Qualified leasehold improvement property, qualified restaurant property, and qualified retail improvement property placed in service after December 31, 2013, will not be treated as 15-year property under MACRS. Irs form 1040v Expiration of the accelerated depreciation for qualified Indian reservation property. Irs form 1040v  The accelerated depreciation of property on an Indian Reservation will not apply to property placed in service after December 31, 2013. Irs form 1040v Expiration of the 3-year recovery period for certain race horses. Irs form 1040v  The 3-year recovery period for race horses two years old or younger will expire for such horses placed in service after December 31, 2013. Irs form 1040v Reminders Photographs of missing children. Irs form 1040v  The Internal Revenue Service is a proud partner with the National Center for Missing and Exploited Children. Irs form 1040v Photographs of missing children selected by the Center may appear in this publication on pages that would otherwise be blank. Irs form 1040v You can help bring these children home by looking at the photographs and calling 1-800-THE-LOST (1-800-843-5678) if you recognize a child. Irs form 1040v Introduction Future developments. Irs form 1040v   For the latest information about developments related to Publication 946 such as legislation enacted after this publication was published, go to www. Irs form 1040v irs. Irs form 1040v gov/pub946. Irs form 1040v This publication explains how you can recover the cost of business or income-producing property through deductions for depreciation (for example, the special depreciation allowance and deductions under the Modified Accelerated Cost Recovery System (MACRS)). Irs form 1040v It also explains how you can elect to take a section 179 deduction, instead of depreciation deductions, for certain property, and the additional rules for listed property. Irs form 1040v The depreciation methods discussed in this publication generally do not apply to property placed in service before 1987. Irs form 1040v For more information, see Publication 534, Depreciating Property Placed in Service Before 1987. Irs form 1040v Definitions. Irs form 1040v   Many of the terms used in this publication are defined in the Glossary near the end of the publication. Irs form 1040v Glossary terms used in each discussion under the major headings are listed before the beginning of each discussion throughout the publication. Irs form 1040v Do you need a different publication?   The following table shows where you can get more detailed information when depreciating certain types of property. Irs form 1040v For information on depreciating: See Publication: A car 463, Travel, Entertainment, Gift, and Car Expenses Residential rental property 527, Residential Rental Property (Including Rental of Vacation Home) Office space in your home 587, Business Use of Your Home (Including Use by Daycare Providers) Farm property 225, Farmer's Tax Guide Comments and suggestions. Irs form 1040v   We welcome your comments about this publication and your suggestions for future editions. Irs form 1040v   You can write to us at the following address: Internal Revenue Service Business, Exempt Organizations and International Forms and Publications Branch SE:W:CAR:MP:T:B 1111 Constitution Ave. Irs form 1040v NW, IR-6526 Washington, DC 20224   We respond to many letters by telephone. Irs form 1040v Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your correspondence. Irs form 1040v   You can send us comments from www. Irs form 1040v irs. Irs form 1040v gov/formspubs/. Irs form 1040v Select “Comment on Tax Forms and Publications” under “More Information. Irs form 1040v ”   Although we cannot respond individually to each comment received, we do appreciate your feedback and will consider your comments as we revise our tax products. Irs form 1040v Ordering forms and publications. Irs form 1040v   Visit www. Irs form 1040v irs. Irs form 1040v gov/formspubs/ to download forms and publications, call 1-800-TAX-FORM (1-800-829-3676), or write to the address below and receive a response within 10 days after your request is received. Irs form 1040v Internal Revenue Service 1201 N. Irs form 1040v Mitsubishi Motorway Bloomington, IL 61705-6613 Tax questions. Irs form 1040v   If you have a tax question, check the information available on IRS. Irs form 1040v gov or call 1-800-829-1040. Irs form 1040v We cannot answer tax questions sent to either of the above addresses. Irs form 1040v Prev  Up  Next   Home   More Online Publications