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Myfreetaxes com kingcounty 1. Myfreetaxes com kingcounty   Filing Information Table of Contents What's New Reminders Introduction Do I Have To File a Return?Individuals—In General Dependents Certain Children Under Age 19 or Full-Time Students Self-Employed Persons Aliens Who Should File Which Form Should I Use?Form 1040EZ Form 1040A Form 1040 Does My Return Have To Be on Paper?IRS e-file When Do I Have To File?Private delivery services. Myfreetaxes com kingcounty Extensions of Time To File How Do I Prepare My Return?When Do I Report My Income and Expenses? Social Security Number (SSN) Presidential Election Campaign Fund Computations Attachments Third Party Designee Signatures Paid Preparer Refunds Amount You Owe Gift To Reduce Debt Held by the Public Name and Address Where Do I File? What Happens After I File?What Records Should I Keep? Why Keep Records? Kinds of Records to Keep Basic Records How Long to Keep Records Refund Information Interest on Refunds Change of Address What If I Made a Mistake?Amended Returns and Claims for Refund Penalties Identity Theft What's New Filing status for same-sex married couple. Myfreetaxes com kingcounty   If you have a same-sex spouse whom you legally married in a state (or foreign country) that recognizes same-sex marriage, you and your spouse generally must use the married filing jointly or married filing separately filing status on your 2013 return, even if you and your spouse now live in a state (or foreign country) that does not recognize same-sex marriage. Myfreetaxes com kingcounty See Publication 501 for more information. Myfreetaxes com kingcounty Additional Medicare Tax. Myfreetaxes com kingcounty  Beginning in 2013, a 0. Myfreetaxes com kingcounty 9% Additional Medicare Tax applies to Medicare wages, Railroad Retirement Tax Act (RRTA) compensation, and self-employment income over a threshold amount based on your filing status. Myfreetaxes com kingcounty For more information, see the Instructions for Form 1040, line 60, and Form 8959. Myfreetaxes com kingcounty Net Investment Income Tax. Myfreetaxes com kingcounty  Beginning in 2013, you may be subject to Net Investment Income Tax (NIIT). Myfreetaxes com kingcounty NIIT is a 3. Myfreetaxes com kingcounty 8% tax on the lesser of net investment income or the excess of your modified adjusted gross income over a threshold amount. Myfreetaxes com kingcounty For more information, see the Instructions for Form 1040, line 60, and Form 8960. Myfreetaxes com kingcounty Refundable credit for prior year minimum tax. Myfreetaxes com kingcounty  The refundable portion of the credit for prior year minimum tax is no longer available. Myfreetaxes com kingcounty Who must file. Myfreetaxes com kingcounty  Generally, the amount of income you can receive before you must file a return has been increased. Myfreetaxes com kingcounty See Table 1-1, Table 1-2, and Table 1-3 for the specific amounts. Myfreetaxes com kingcounty Reminders File online. Myfreetaxes com kingcounty  Rather than filing a return on paper, you may be able to file electronically using IRS e-file. Myfreetaxes com kingcounty Create your own personal identification number (PIN) and file a completely paperless tax return. Myfreetaxes com kingcounty For more information, see Does My Return Have To Be on Paper , later. Myfreetaxes com kingcounty Change of address. Myfreetaxes com kingcounty  If you change your address, you should notify the IRS. Myfreetaxes com kingcounty You can use Form 8822 to notify the IRS of the change. Myfreetaxes com kingcounty See Change of Address , later, under What Happens After I File. Myfreetaxes com kingcounty Enter your social security number. Myfreetaxes com kingcounty  You must enter your social security number (SSN) in the spaces provided on your tax return. Myfreetaxes com kingcounty If you file a joint return, enter the SSNs in the same order as the names. Myfreetaxes com kingcounty Direct deposit of refund. Myfreetaxes com kingcounty  Instead of getting a paper check, you may be able to have your refund deposited directly into your account at a bank or other financial institution. Myfreetaxes com kingcounty See Direct Deposit under Refunds, later. Myfreetaxes com kingcounty If you choose direct deposit of your refund, you may be able to split the refund among two or three accounts. Myfreetaxes com kingcounty Pay online or by phone. Myfreetaxes com kingcounty  If you owe additional tax, you may be able to pay online or by phone. Myfreetaxes com kingcounty See How To Pay , later. Myfreetaxes com kingcounty Installment agreement. Myfreetaxes com kingcounty  If you cannot pay the full amount due with your return, you may ask to make monthly installment payments. Myfreetaxes com kingcounty See Installment Agreement , later, under Amount You Owe. Myfreetaxes com kingcounty You may be able to apply online for a payment agreement if you owe federal tax, interest, and penalties. Myfreetaxes com kingcounty Automatic 6-month extension. Myfreetaxes com kingcounty  You can get an automatic 6-month extension to file your tax return if, no later than the date your return is due, you file Form 4868, Application for Automatic Extension of Time To File U. Myfreetaxes com kingcounty S. Myfreetaxes com kingcounty Individual Income Tax Return. Myfreetaxes com kingcounty See Automatic Extension , later. Myfreetaxes com kingcounty Service in combat zone. Myfreetaxes com kingcounty  You are allowed extra time to take care of your tax matters if you are a member of the Armed Forces who served in a combat zone, or if you served in the combat zone in support of the Armed Forces. Myfreetaxes com kingcounty See Individuals Serving in Combat Zone , later, under When Do I Have To File. Myfreetaxes com kingcounty Adoption taxpayer identification number. Myfreetaxes com kingcounty  If a child has been placed in your home for purposes of legal adoption and you will not be able to get a social security number for the child in time to file your return, you may be able to get an adoption taxpayer identification number (ATIN). Myfreetaxes com kingcounty For more information, see Social Security Number (SSN) , later. Myfreetaxes com kingcounty Taxpayer identification number for aliens. Myfreetaxes com kingcounty  If you or your dependent is a nonresident or resident alien who does not have and is not eligible to get a social security number, file Form W-7, Application for IRS Individual Taxpayer Identification Number, with the IRS. Myfreetaxes com kingcounty For more information, see Social Security Number (SSN) , later. Myfreetaxes com kingcounty Frivolous tax submissions. Myfreetaxes com kingcounty  The IRS has published a list of positions that are identified as frivolous. Myfreetaxes com kingcounty The penalty for filing a frivolous tax return is $5,000. Myfreetaxes com kingcounty Also, the $5,000 penalty will apply to other specified frivolous submissions. Myfreetaxes com kingcounty For more information, see Civil Penalties , later. Myfreetaxes com kingcounty Introduction This chapter discusses the following topics. Myfreetaxes com kingcounty Whether you have to file a return. Myfreetaxes com kingcounty Which form to use. Myfreetaxes com kingcounty How to file electronically. Myfreetaxes com kingcounty When, how, and where to file your return. Myfreetaxes com kingcounty What happens if you pay too little or too much tax. Myfreetaxes com kingcounty What records you should keep and how long you should keep them. Myfreetaxes com kingcounty How you can change a return you have already filed. Myfreetaxes com kingcounty Do I Have To File a Return? You must file a federal income tax return if you are a citizen or resident of the United States or a resident of Puerto Rico and you meet the filing requirements for any of the following categories that apply to you. Myfreetaxes com kingcounty Individuals in general. Myfreetaxes com kingcounty (There are special rules for surviving spouses, executors, administrators, legal representatives, U. Myfreetaxes com kingcounty S. Myfreetaxes com kingcounty citizens and residents living outside the United States, residents of Puerto Rico, and individuals with income from U. Myfreetaxes com kingcounty S. Myfreetaxes com kingcounty possessions. Myfreetaxes com kingcounty ) Dependents. Myfreetaxes com kingcounty Certain children under age 19 or full-time students. Myfreetaxes com kingcounty Self-employed persons. Myfreetaxes com kingcounty Aliens. Myfreetaxes com kingcounty The filing requirements for each category are explained in this chapter. Myfreetaxes com kingcounty The filing requirements apply even if you do not owe tax. Myfreetaxes com kingcounty Even if you do not have to file a return, it may be to your advantage to do so. Myfreetaxes com kingcounty See Who Should File, later. Myfreetaxes com kingcounty File only one federal income tax return for the year regardless of how many jobs you had, how many Forms W-2 you received, or how many states you lived in during the year. Myfreetaxes com kingcounty Do not file more than one original return for the same year, even if you have not gotten your refund or have not heard from the IRS since you filed. Myfreetaxes com kingcounty Individuals—In General If you are a U. Myfreetaxes com kingcounty S. Myfreetaxes com kingcounty citizen or resident, whether you must file a return depends on three factors: Your gross income, Your filing status, and Your age. Myfreetaxes com kingcounty To find out whether you must file, see Table 1-1, Table 1-2, and Table 1-3. Myfreetaxes com kingcounty Even if no table shows that you must file, you may need to file to get money back. Myfreetaxes com kingcounty (See Who Should File , later. Myfreetaxes com kingcounty ) Gross income. Myfreetaxes com kingcounty   This includes all income you receive in the form of money, goods, property, and services that is not exempt from tax. Myfreetaxes com kingcounty It also includes income from sources outside the United States or from the sale of your main home (even if you can exclude all or part of it). Myfreetaxes com kingcounty Include part of your social security benefits if: You were married, filing a separate return, and you lived with your spouse at any time during 2013; or Half of your social security benefits plus your other gross income and any tax-exempt interest is more than $25,000 ($32,000 if married filing jointly). Myfreetaxes com kingcounty If either (1) or (2) applies, see the instructions for Form 1040 or 1040A, or Publication 915, Social Security and Equivalent Railroad Retirement Benefits, to figure the social security benefits you must include in gross income. Myfreetaxes com kingcounty   Common types of income are discussed in Part Two of this publication. Myfreetaxes com kingcounty Community income. Myfreetaxes com kingcounty   If you are married and your permanent home is in a community property state, half of any income described by state law as community income may be considered yours. Myfreetaxes com kingcounty This affects your federal taxes, including whether you must file if you do not file a joint return with your spouse. Myfreetaxes com kingcounty See Publication 555, Community Property, for more information. Myfreetaxes com kingcounty Nevada, Washington, and California domestic partners. Myfreetaxes com kingcounty   A registered domestic partner in Nevada, Washington, or California generally must report half the combined community income of the individual and his or her domestic partner. Myfreetaxes com kingcounty See Publication 555. Myfreetaxes com kingcounty Self-employed individuals. Myfreetaxes com kingcounty   If you are self-employed, your gross income includes the amount on line 7 of Schedule C (Form 1040), Profit or Loss From Business; line 1 of Schedule C-EZ (Form 1040), Net Profit From Business; and line 9 of Schedule F (Form 1040), Profit or Loss From Farming. Myfreetaxes com kingcounty See Self-Employed Persons , later, for more information about your filing requirements. Myfreetaxes com kingcounty    If you do not report all of your self-employment income, your social security benefits may be lower when you retire. Myfreetaxes com kingcounty Filing status. Myfreetaxes com kingcounty   Your filing status depends on whether you are single or married and on your family situation. Myfreetaxes com kingcounty Your filing status is determined on the last day of your tax year, which is December 31 for most taxpayers. Myfreetaxes com kingcounty See chapter 2 for an explanation of each filing status. Myfreetaxes com kingcounty Age. Myfreetaxes com kingcounty   If you are 65 or older at the end of the year, you generally can have a higher amount of gross income than other taxpayers before you must file. Myfreetaxes com kingcounty See Table 1-1. Myfreetaxes com kingcounty You are considered 65 on the day before your 65th birthday. Myfreetaxes com kingcounty For example, if your 65th birthday is on January 1, 2014, you are considered 65 for 2013. Myfreetaxes com kingcounty Table 1-1. Myfreetaxes com kingcounty 2013 Filing Requirements for Most Taxpayers IF your filing status is. Myfreetaxes com kingcounty . Myfreetaxes com kingcounty . Myfreetaxes com kingcounty AND at the end of 2013 you  were. Myfreetaxes com kingcounty . Myfreetaxes com kingcounty . Myfreetaxes com kingcounty * THEN file a return if  your gross income  was at least. Myfreetaxes com kingcounty . Myfreetaxes com kingcounty . Myfreetaxes com kingcounty ** single under 65 $10,000     65 or older $11,500   married filing jointly*** under 65 (both spouses) $20,000     65 or older (one spouse) $21,200     65 or older (both spouses) $22,400   married filing separately any age $3,900   head of household under 65 $12,850     65 or older $14,350   qualifying widow(er) with dependent child under 65 $16,100   65 or older $17,300   * If you were born on January 1, 1949, you are considered to be age 65 at the end of 2013. Myfreetaxes com kingcounty ** Gross income means all income you received in the form of money, goods, property, and services that is not exempt from tax, including any income from sources outside the United States or from the sale of your main home (even if you can exclude part or all of it). Myfreetaxes com kingcounty Do not include any social security benefits unless (a) you are married filing a separate return and you lived with your spouse at any time during 2013 or (b) one-half of your social security benefits plus your other gross income and any tax-exempt interest is more than $25,000 ($32,000 if married filing jointly). Myfreetaxes com kingcounty If (a) or (b) applies, see the Instructions for Form 1040 or 1040A or Publication 915 to figure the taxable part of social security benefits you must include in gross income. Myfreetaxes com kingcounty Gross income includes gains, but not losses, reported on Form 8949 or Schedule D. Myfreetaxes com kingcounty Gross income from a business means, for example, the amount on Schedule C, line 7, or Schedule F, line 9. Myfreetaxes com kingcounty But, in figuring gross income, do not reduce your income by any losses, including any loss on Schedule C, line 7, or Schedule F, line 9. Myfreetaxes com kingcounty *** If you did not live with your spouse at the end of 2013 (or on the date your spouse died) and your gross income was at least $3,900, you must file a return regardless of your age. Myfreetaxes com kingcounty Surviving Spouses, Executors, Administrators, and Legal Representatives You must file a final return for a decedent (a person who died) if both of the following are true. Myfreetaxes com kingcounty You are the surviving spouse, executor, administrator, or legal representative. Myfreetaxes com kingcounty The decedent met the filing requirements at the date of death. Myfreetaxes com kingcounty For more information on rules for filing a decedent's final return, see Publication 559, Survivors, Executors, and Administrators. Myfreetaxes com kingcounty U. Myfreetaxes com kingcounty S. Myfreetaxes com kingcounty Citizens and Resident Aliens Living Abroad To determine whether you must file a return, include in your gross income any income you received abroad, including any income you can exclude under the foreign earned income exclusion. Myfreetaxes com kingcounty For information on special tax rules that may apply to you, see Publication 54, Tax Guide for U. Myfreetaxes com kingcounty S. Myfreetaxes com kingcounty Citizens and Resident Aliens Abroad. Myfreetaxes com kingcounty It is available online and at most U. Myfreetaxes com kingcounty S. Myfreetaxes com kingcounty embassies and consulates. Myfreetaxes com kingcounty See How To Get Tax Help in the back of this publication. Myfreetaxes com kingcounty Residents of Puerto Rico If you are a U. Myfreetaxes com kingcounty S. Myfreetaxes com kingcounty citizen and also a bona fide resident of Puerto Rico, you generally must file a U. Myfreetaxes com kingcounty S. Myfreetaxes com kingcounty income tax return for any year in which you meet the income requirements. Myfreetaxes com kingcounty This is in addition to any legal requirement you may have to file an income tax return with Puerto Rico. Myfreetaxes com kingcounty If you are a bona fide resident of Puerto Rico for the entire year, your U. Myfreetaxes com kingcounty S. Myfreetaxes com kingcounty gross income does not include income from sources within Puerto Rico. Myfreetaxes com kingcounty It does, however, include any income you received for your services as an employee of the United States or a U. Myfreetaxes com kingcounty S. Myfreetaxes com kingcounty agency. Myfreetaxes com kingcounty If you receive income from Puerto Rican sources that is not subject to U. Myfreetaxes com kingcounty S. Myfreetaxes com kingcounty tax, you must reduce your standard deduction. Myfreetaxes com kingcounty As a result, the amount of income you must have before you are required to file a U. Myfreetaxes com kingcounty S. Myfreetaxes com kingcounty income tax return is lower than the applicable amount in Table 1-1 or Table 1-2. Myfreetaxes com kingcounty For more information, see Publication 570, Tax Guide for Individuals With Income From U. Myfreetaxes com kingcounty S. Myfreetaxes com kingcounty Possessions. Myfreetaxes com kingcounty Individuals With Income From U. Myfreetaxes com kingcounty S. Myfreetaxes com kingcounty Possessions If you had income from Guam, the Commonwealth of the Northern Mariana Islands, American Samoa, or the U. Myfreetaxes com kingcounty S. Myfreetaxes com kingcounty Virgin Islands, special rules may apply when determining whether you must file a U. Myfreetaxes com kingcounty S. Myfreetaxes com kingcounty federal income tax return. Myfreetaxes com kingcounty In addition, you may have to file a return with the individual island government. Myfreetaxes com kingcounty See Publication 570 for more information. Myfreetaxes com kingcounty Dependents If you are a dependent (one who meets the dependency tests in chapter 3), see Table 1-2 to find out whether you must file a return. Myfreetaxes com kingcounty You also must file if your situation is described in Table 1-3. Myfreetaxes com kingcounty Responsibility of parent. Myfreetaxes com kingcounty   Generally, a child is responsible for filing his or her own tax return and for paying any tax on the return. Myfreetaxes com kingcounty If a dependent child must file an income tax return but cannot file due to age or any other reason, then a parent, guardian, or other legally responsible person must file it for the child. Myfreetaxes com kingcounty If the child cannot sign the return, the parent or guardian must sign the child's name followed by the words “By (your signature), parent for minor child. Myfreetaxes com kingcounty ” Child's earnings. Myfreetaxes com kingcounty   Amounts a child earns by performing services are included in his or her gross income and not the gross income of the parent. Myfreetaxes com kingcounty This is true even if under local law the child's parent has the right to the earnings and may actually have received them. Myfreetaxes com kingcounty But if the child does not pay the tax due on this income, the parent is liable for the tax. Myfreetaxes com kingcounty Certain Children Under Age 19 or Full-Time Students If a child's only income is interest and dividends (including capital gain distributions and Alaska Permanent Fund dividends), the child was under age 19 at the end of 2013 or was a full-time student under age 24 at the end of 2013, and certain other conditions are met, a parent can elect to include the child's income on the parent's return. Myfreetaxes com kingcounty If this election is made, the child does not have to file a return. Myfreetaxes com kingcounty See Parent's Election To Report Child's Interest and Dividends in chapter 31. Myfreetaxes com kingcounty Self-Employed Persons You are self-employed if you: Carry on a trade or business as a sole proprietor, Are an independent contractor, Are a member of a partnership, or Are in business for yourself in any other way. Myfreetaxes com kingcounty Self-employment can include work in addition to your regular full-time business activities, such as certain part-time work you do at home or in addition to your regular job. Myfreetaxes com kingcounty You must file a return if your gross income is at least as much as the filing requirement amount for your filing status and age (shown in Table 1-1). Myfreetaxes com kingcounty Also, you must file Form 1040 and Schedule SE (Form 1040), Self-Employment Tax, if: Your net earnings from self-employment (excluding church employee income) were $400 or more, or You had church employee income of $108. Myfreetaxes com kingcounty 28 or more. Myfreetaxes com kingcounty (See Table 1-3. Myfreetaxes com kingcounty ) Use Schedule SE (Form 1040) to figure your self-employment tax. Myfreetaxes com kingcounty Self-employment tax is comparable to the social security and Medicare tax withheld from an employee's wages. Myfreetaxes com kingcounty For more information about this tax, see Publication 334, Tax Guide for Small Business. Myfreetaxes com kingcounty Employees of foreign governments or international organizations. Myfreetaxes com kingcounty   If you are a U. Myfreetaxes com kingcounty S. Myfreetaxes com kingcounty citizen who works in the United States for an international organization, a foreign government, or a wholly owned instrumentality of a foreign government, and your employer is not required to withhold social security and Medicare taxes from your wages, you must include your earnings from services performed in the United States when figuring your net earnings from self-employment. Myfreetaxes com kingcounty Ministers. Myfreetaxes com kingcounty   You must include income from services you performed as a minister when figuring your net earnings from self-employment, unless you have an exemption from self-employment tax. Myfreetaxes com kingcounty This also applies to Christian Science practitioners and members of a religious order who have not taken a vow of poverty. Myfreetaxes com kingcounty For more information, see Publication 517, Social Security and Other Information for Members of the Clergy and Religious Workers. Myfreetaxes com kingcounty Table 1-2. Myfreetaxes com kingcounty 2013 Filing Requirements for Dependents See chapter 3 to find out if someone can claim you as a dependent. Myfreetaxes com kingcounty If your parents (or someone else) can claim you as a dependent, use this table to see if you must file a return. Myfreetaxes com kingcounty (See Table 1-3 for other situations when you must file. Myfreetaxes com kingcounty ) In this table, earned income includes salaries, wages, tips, and professional fees. Myfreetaxes com kingcounty It also includes taxable scholarship and fellowship grants. Myfreetaxes com kingcounty (See Scholarships and fellowships in chapter 12. Myfreetaxes com kingcounty ) Unearned income includes investment-type income such as taxable interest, ordinary dividends, and capital gain distributions. Myfreetaxes com kingcounty It also includes unemployment compensation, taxable social security benefits, pensions, annuities, cancellation of debt, and distributions of unearned income from a trust. Myfreetaxes com kingcounty Gross income is the total of your earned and unearned income. Myfreetaxes com kingcounty   Single dependents—Were you either age 65 or older or blind? □ No. Myfreetaxes com kingcounty You must file a return if any of the following apply. Myfreetaxes com kingcounty     • Your unearned income was more than $1,000. Myfreetaxes com kingcounty     • Your earned income was more than $6,100. Myfreetaxes com kingcounty     • Your gross income was more than the larger of:       • $1,000, or       • Your earned income (up to $5,750) plus $350. Myfreetaxes com kingcounty □ Yes. Myfreetaxes com kingcounty You must file a return if any of the following apply. Myfreetaxes com kingcounty     • Your unearned income was more than $2,500 ($4,000 if 65 or older and blind). Myfreetaxes com kingcounty     • Your earned income was more than $7,600 ($9,100 if 65 or older and blind). Myfreetaxes com kingcounty     • Your gross income was more than the larger of:       • $2,500 ($4,000 if 65 or older and blind), or       • Your earned income (up to $5,750) plus $1,850 ($3,350 if 65 or older and blind). Myfreetaxes com kingcounty Married dependents—Were you either age 65 or older or blind? □ No. Myfreetaxes com kingcounty You must file a return if any of the following apply. Myfreetaxes com kingcounty     • Your unearned income was more than $1,000. Myfreetaxes com kingcounty     • Your earned income was more than $6,100. Myfreetaxes com kingcounty     • Your gross income was at least $5 and your spouse files a separate return and itemizes deductions. Myfreetaxes com kingcounty     • Your gross income was more than the larger of:       • $1,000, or       • Your earned income (up to $5,750) plus $350. Myfreetaxes com kingcounty □ Yes. Myfreetaxes com kingcounty You must file a return if any of the following apply. Myfreetaxes com kingcounty     • Your unearned income was more than $2,200 ($3,400 if 65 or older and blind). Myfreetaxes com kingcounty     • Your earned income was more than $7,300 ($8,500 if 65 or older and blind). Myfreetaxes com kingcounty     • Your gross income was at least $5 and your spouse files a separate return and itemizes deductions. Myfreetaxes com kingcounty     • Your gross income was more than the larger of:       • $2,200 ($3,400 if 65 or older and blind), or       • Your earned income (up to $5,750) plus $1,550 ($2,750 if 65 or older and blind). Myfreetaxes com kingcounty Aliens Your status as an alien—resident, nonresident, or dual-status—determines whether and how you must file an income tax return. Myfreetaxes com kingcounty The rules used to determine your alien status are discussed in Publication 519, U. Myfreetaxes com kingcounty S. Myfreetaxes com kingcounty Tax Guide for Aliens. Myfreetaxes com kingcounty Resident alien. Myfreetaxes com kingcounty   If you are a resident alien for the entire year, you must file a tax return following the same rules that apply to U. Myfreetaxes com kingcounty S. Myfreetaxes com kingcounty citizens. Myfreetaxes com kingcounty Use the forms discussed in this publication. Myfreetaxes com kingcounty Nonresident alien. Myfreetaxes com kingcounty   If you are a nonresident alien, the rules and tax forms that apply to you are different from those that apply to U. Myfreetaxes com kingcounty S. Myfreetaxes com kingcounty citizens and resident aliens. Myfreetaxes com kingcounty See Publication 519 to find out if U. Myfreetaxes com kingcounty S. Myfreetaxes com kingcounty income tax laws apply to you and which forms you should file. Myfreetaxes com kingcounty Dual-status taxpayer. Myfreetaxes com kingcounty   If you are a resident alien for part of the tax year and a nonresident alien for the rest of the year, you are a dual-status taxpayer. Myfreetaxes com kingcounty Different rules apply for each part of the year. Myfreetaxes com kingcounty For information on dual-status taxpayers, see Publication 519. Myfreetaxes com kingcounty Table 1-3. Myfreetaxes com kingcounty Other Situations When You Must File a 2013 Return You must file a return if any of the four conditions below apply for 2013. Myfreetaxes com kingcounty 1. Myfreetaxes com kingcounty   You owe any special taxes, including any of the following. Myfreetaxes com kingcounty   a. Myfreetaxes com kingcounty Alternative minimum tax. Myfreetaxes com kingcounty   b. Myfreetaxes com kingcounty Additional tax on a qualified plan, including an individual retirement arrangement (IRA), or other tax-favored account. Myfreetaxes com kingcounty But if you are filing a return only because you owe this tax, you can file Form 5329 by itself. Myfreetaxes com kingcounty   c. Myfreetaxes com kingcounty Household employment taxes. Myfreetaxes com kingcounty But if you are filing a return only because you owe this tax, you can file Schedule H by itself. Myfreetaxes com kingcounty   d. Myfreetaxes com kingcounty Social security and Medicare tax on tips you did not report to your employer or on wages you received from an employer who did not withhold these taxes. Myfreetaxes com kingcounty   e. Myfreetaxes com kingcounty Recapture of first-time homebuyer credit. Myfreetaxes com kingcounty   f. Myfreetaxes com kingcounty Write-in taxes, including uncollected social security and Medicare or RRTA tax on tips you reported to your employer or on group-term life insurance and additional taxes on health savings accounts. Myfreetaxes com kingcounty   g. Myfreetaxes com kingcounty Recapture taxes. Myfreetaxes com kingcounty 2. Myfreetaxes com kingcounty   You (or your spouse, if filing jointly) received HSA, Archer MSA, or Medicare Advantage MSA distributions. Myfreetaxes com kingcounty 3. Myfreetaxes com kingcounty   You had net earnings from self-employment of at least $400. Myfreetaxes com kingcounty 4. Myfreetaxes com kingcounty   You had wages of $108. Myfreetaxes com kingcounty 28 or more from a church or qualified church-controlled organization that is exempt from employer social security and Medicare taxes. Myfreetaxes com kingcounty Who Should File Even if you do not have to file, you should file a federal income tax return to get money back if any of the following conditions apply. Myfreetaxes com kingcounty You had federal income tax withheld or made estimated tax payments. Myfreetaxes com kingcounty You qualify for the earned income credit. Myfreetaxes com kingcounty See chapter 36 for more information. Myfreetaxes com kingcounty You qualify for the additional child tax credit. Myfreetaxes com kingcounty See chapter 34 for more information. Myfreetaxes com kingcounty You qualify for the health coverage tax credit. Myfreetaxes com kingcounty See chapter 37 for more information. Myfreetaxes com kingcounty You qualify for the American opportunity credit. Myfreetaxes com kingcounty See chapter 35 for more information. Myfreetaxes com kingcounty You qualify for the credit for federal tax on fuels. Myfreetaxes com kingcounty See chapter 37 for more information. Myfreetaxes com kingcounty Which Form Should I Use? You must use one of three forms to file your return: Form 1040EZ, Form 1040A, or Form 1040. Myfreetaxes com kingcounty (But also see Does My Return Have To Be on Paper , later. Myfreetaxes com kingcounty ) See the discussion under Form 1040 for when you must use that form. Myfreetaxes com kingcounty Form 1040EZ Form 1040EZ is the simplest form to use. Myfreetaxes com kingcounty You can use Form 1040EZ if all of the following apply. Myfreetaxes com kingcounty    Your filing status is single or married filing jointly. Myfreetaxes com kingcounty If you were a nonresident alien at any time in 2013, your filing status must be married filing jointly. Myfreetaxes com kingcounty You (and your spouse if married filing a joint return) were under age 65 and not blind at the end of 2013. Myfreetaxes com kingcounty If you were born on January 1, 1949, you are considered to be age 65 at the end of 2013. Myfreetaxes com kingcounty You do not claim any dependents. Myfreetaxes com kingcounty Your taxable income is less than $100,000. Myfreetaxes com kingcounty Your income is only from wages, salaries, tips, unemployment compensation, Alaska Permanent Fund dividends, taxable scholarship and fellowship grants, and taxable interest of $1,500 or less. Myfreetaxes com kingcounty You do not claim any adjustments to income, such as a deduction for IRA contributions or student loan interest. Myfreetaxes com kingcounty You do not claim any credits other than the earned income credit. Myfreetaxes com kingcounty You do not owe any household employment taxes on wages you paid to a household employee. Myfreetaxes com kingcounty If you earned tips, they are included in boxes 5 and 7 of your Form W-2. Myfreetaxes com kingcounty You are not a debtor in a chapter 11 bankruptcy case filed after October 16, 2005. Myfreetaxes com kingcounty   You must meet all of these requirements to use Form 1040EZ. Myfreetaxes com kingcounty If you do not, you must use Form 1040A or Form 1040. Myfreetaxes com kingcounty Figuring tax. Myfreetaxes com kingcounty   On Form 1040EZ, you can use only the tax table to figure your income tax. Myfreetaxes com kingcounty You cannot use Form 1040EZ to report any other tax. Myfreetaxes com kingcounty Form 1040A If you do not qualify to use Form 1040EZ, you may be able to use Form 1040A. Myfreetaxes com kingcounty You can use Form 1040A if all of the following apply. Myfreetaxes com kingcounty    Your income is only from: Wages, salaries, and tips, Interest, Ordinary dividends (including Alaska Permanent Fund dividends), Capital gain distributions, IRA distributions, Pensions and annuities, Unemployment compensation, Taxable social security and railroad retirement benefits, and Taxable scholarship and fellowship grants. Myfreetaxes com kingcounty If you receive a capital gain distribution that includes unrecaptured section 1250 gain, section 1202 gain, or collectibles (28%) gain, you cannot use Form 1040A. Myfreetaxes com kingcounty You must use Form 1040. Myfreetaxes com kingcounty Your taxable income is less than $100,000. Myfreetaxes com kingcounty Your adjustments to income are for only the following items. Myfreetaxes com kingcounty Educator expenses. Myfreetaxes com kingcounty IRA deduction. Myfreetaxes com kingcounty Student loan interest deduction. Myfreetaxes com kingcounty Tuition and fees. Myfreetaxes com kingcounty You do not itemize your deductions. Myfreetaxes com kingcounty You claim only the following tax credits. Myfreetaxes com kingcounty The credit for child and dependent care expenses. Myfreetaxes com kingcounty (See chapter 32. Myfreetaxes com kingcounty ) The credit for the elderly or the disabled. Myfreetaxes com kingcounty (See chapter 33. Myfreetaxes com kingcounty ) The education credits. Myfreetaxes com kingcounty (See chapter 35. Myfreetaxes com kingcounty ) The retirement savings contribution credit. Myfreetaxes com kingcounty (See chapter 37. Myfreetaxes com kingcounty ) The child tax credit. Myfreetaxes com kingcounty (See chapter 34. Myfreetaxes com kingcounty ) The earned income credit. Myfreetaxes com kingcounty (See chapter 36. Myfreetaxes com kingcounty ) The additional child tax credit. Myfreetaxes com kingcounty (See chapter 34. Myfreetaxes com kingcounty ) You did not have an alternative minimum tax adjustment on stock you acquired from the exercise of an incentive stock option. Myfreetaxes com kingcounty (See Publication 525, Taxable and Nontaxable Income. Myfreetaxes com kingcounty )   You can also use Form 1040A if you received employer-provided dependent care benefits or if you owe tax from the recapture of an education credit or the alternative minimum tax. Myfreetaxes com kingcounty   You must meet all these requirements to use Form 1040A. Myfreetaxes com kingcounty If you do not, you must use Form 1040. Myfreetaxes com kingcounty Form 1040 If you cannot use Form 1040EZ or Form 1040A, you must use Form 1040. Myfreetaxes com kingcounty You can use Form 1040 to report all types of income, deductions, and credits. Myfreetaxes com kingcounty You may pay less tax by filing Form 1040 because you can take itemized deductions, some adjustments to income, and credits you cannot take on Form 1040A or Form 1040EZ. Myfreetaxes com kingcounty You must use Form 1040 if any of the following apply. Myfreetaxes com kingcounty    Your taxable income is $100,000 or more. Myfreetaxes com kingcounty You itemize your deductions on Schedule A. Myfreetaxes com kingcounty You had income that cannot be reported on Form 1040EZ or Form 1040A, including tax-exempt interest from private activity bonds issued after August 7, 1986. Myfreetaxes com kingcounty You claim any adjustments to gross income other than the adjustments listed earlier under Form 1040A. Myfreetaxes com kingcounty Your Form W-2, box 12, shows uncollected employee tax (social security and Medicare tax) on tips (see chapter 6) or group-term life insurance (see chapter 5). Myfreetaxes com kingcounty You received $20 or more in tips in any 1 month and did not report all of them to your employer. Myfreetaxes com kingcounty (See chapter 6. Myfreetaxes com kingcounty ) You were a bona fide resident of Puerto Rico and exclude income from sources in Puerto Rico. Myfreetaxes com kingcounty You claim any credits other than the credits listed earlier under Form 1040A. Myfreetaxes com kingcounty You owe the excise tax on insider stock compensation from an expatriated corporation. Myfreetaxes com kingcounty Your Form W-2 shows an amount in box 12 with a code Z. Myfreetaxes com kingcounty You had a qualified health savings account funding distribution from your IRA. Myfreetaxes com kingcounty You are an employee and your employer did not withhold social security and Medicare tax. Myfreetaxes com kingcounty You have to file other forms with your return to report certain exclusions, taxes, or transactions, such as Form 8959 or Form 8960. Myfreetaxes com kingcounty You are a debtor in a bankruptcy case filed after October 16, 2005. Myfreetaxes com kingcounty You must repay the first-time homebuyer credit. Myfreetaxes com kingcounty You have adjusted gross income of more than $150,000 and must reduce the dollar amount of your exemptions. Myfreetaxes com kingcounty Does My Return Have To Be on Paper? You may be able to file a paperless return using IRS e-file (electronic filing). Myfreetaxes com kingcounty If your 2013 adjusted gross income (AGI) is less than a certain amount, you are eligible for Free File. Myfreetaxes com kingcounty See your tax return instructions for details. Myfreetaxes com kingcounty If you do not qualify for Free File, then you should check out IRS. Myfreetaxes com kingcounty gov for low-cost e-file options or Free File Fillable Forms. Myfreetaxes com kingcounty IRS e-file Table 1-4 lists the benefits of IRS e-file. Myfreetaxes com kingcounty IRS e-file uses automation to replace most of the manual steps needed to process paper returns. Myfreetaxes com kingcounty As a result, the processing of e-file returns is faster and more accurate than the processing of paper returns. Myfreetaxes com kingcounty However, as with a paper return, you are responsible for making sure your return contains accurate information and is filed on time. Myfreetaxes com kingcounty Using e-file does not affect your chances of an IRS examination of your return. Myfreetaxes com kingcounty Free File Fillable Forms. Myfreetaxes com kingcounty   If you do not need the help of a tax preparer, then Free File Fillable Forms may be for you. Myfreetaxes com kingcounty These forms: Do not have an income requirement so everyone is eligible, Are easy to use, Perform basic math calculations, Are available only at IRS. Myfreetaxes com kingcounty gov, and Apply only to a federal tax return. Myfreetaxes com kingcounty Electronic return signatures. Myfreetaxes com kingcounty   To file your return electronically, you must sign the return electronically using a personal identification number (PIN). Myfreetaxes com kingcounty If you are filing online, you must use a Self-Select PIN. Myfreetaxes com kingcounty If you are filing electronically using a tax practitioner, you can use a Self-Select PIN or a Practitioner PIN. Myfreetaxes com kingcounty Self-Select PIN. Myfreetaxes com kingcounty   The Self-Select PIN method allows you to create your own PIN. Myfreetaxes com kingcounty If you are married filing jointly, you and your spouse will each need to create a PIN and enter these PINs as your electronic signatures. Myfreetaxes com kingcounty   A PIN is any combination of five digits you choose except five zeros. Myfreetaxes com kingcounty If you use a PIN, there is nothing to sign and nothing to mail—not even your Forms W-2. Myfreetaxes com kingcounty   To verify your identity, you will be prompted to enter your adjusted gross income (AGI) from your originally filed 2012 federal income tax return, if applicable. Myfreetaxes com kingcounty Do not use your AGI from an amended return (Form 1040X) or a math error correction made by the IRS. Myfreetaxes com kingcounty AGI is the amount shown on your 2012 Form 1040, line 38; Form 1040A, line 22; or Form 1040EZ, line 4. Myfreetaxes com kingcounty If you do not have your 2012 income tax return, you can quickly request a transcript by using our automated self-service tool. Myfreetaxes com kingcounty Visit us at IRS. Myfreetaxes com kingcounty gov and click on Order a Return or Account Transcript or call 1-800-908-9946 to get a free transcript of your return. Myfreetaxes com kingcounty (If you filed electronically last year, you may use your prior year PIN to verify your identity instead of your prior year AGI. Myfreetaxes com kingcounty The prior year PIN is the five digit PIN you used to electronically sign your 2012 return. Myfreetaxes com kingcounty ) You will also be prompted to enter your date of birth. Myfreetaxes com kingcounty Table 1-4. Myfreetaxes com kingcounty Benefits of IRS e-file • Free File allows qualified taxpayers to prepare and e-file their own tax returns for free. Myfreetaxes com kingcounty • Free File is available in English and Spanish. Myfreetaxes com kingcounty • Free File is available online 24 hours a day, 7 days a week. Myfreetaxes com kingcounty • Get your refund faster by e-filing using Direct Deposit. Myfreetaxes com kingcounty • Sign electronically with a secure self-selected PIN and file a completely paperless return. Myfreetaxes com kingcounty • Receive an acknowledgement that your return was received and accepted. Myfreetaxes com kingcounty • If you owe, you can e-file and pay electronically either online or by phone, using your bank account or a credit or debit card. Myfreetaxes com kingcounty You can also file a return early and pay the amount you owe by the due date of your return. Myfreetaxes com kingcounty • Save time by preparing and e-filing federal and state returns together. Myfreetaxes com kingcounty • IRS computers quickly and automatically check for errors or other missing information. Myfreetaxes com kingcounty • Help the environment, use less paper, and save taxpayer money—it costs less to process an e-filed return than a paper return. Myfreetaxes com kingcounty You cannot use the Self-Select PIN method if you are a first-time filer under age 16 at the end of 2013. Myfreetaxes com kingcounty If you cannot locate your prior year AGI or prior year PIN, use the Electronic Filing PIN Request. Myfreetaxes com kingcounty This can be found at IRS. Myfreetaxes com kingcounty gov. Myfreetaxes com kingcounty Click on Request an Electronic Filing PIN. Myfreetaxes com kingcounty Or you can call 1-866-704-7388. Myfreetaxes com kingcounty Practitioner PIN. Myfreetaxes com kingcounty   The Practitioner PIN method allows you to authorize your tax practitioner to enter or generate your PIN. Myfreetaxes com kingcounty The practitioner can provide you with details. Myfreetaxes com kingcounty Form 8453. Myfreetaxes com kingcounty   You must send in a paper Form 8453 if you have to attach certain forms or other documents that cannot be electronically filed. Myfreetaxes com kingcounty For details, see Form 8453. Myfreetaxes com kingcounty For more details, visit www. Myfreetaxes com kingcounty irs. Myfreetaxes com kingcounty gov/efile and click on “ Individuals. Myfreetaxes com kingcounty ” Identity Protection PIN. Myfreetaxes com kingcounty   If the IRS gave you an identity protection personal identification number (PIN) because you were a victim of identity theft, enter it in the spaces provided on your tax form. Myfreetaxes com kingcounty If the IRS has not given you this type of number, leave these spaces blank. Myfreetaxes com kingcounty For more information, see the Instructions for Form 1040A or Form 1040. Myfreetaxes com kingcounty Power of attorney. Myfreetaxes com kingcounty   If an agent is signing your return for you, a power of attorney (POA) must be filed. Myfreetaxes com kingcounty Attach the POA to Form 8453 and file it using that form's instructions. Myfreetaxes com kingcounty See Signatures , later, for more information on POAs. Myfreetaxes com kingcounty State returns. Myfreetaxes com kingcounty   In most states, you can file an electronic state return simultaneously with your federal return. Myfreetaxes com kingcounty For more information, check with your local IRS office, state tax agency, tax professional, or the IRS website at  www. Myfreetaxes com kingcounty irs. Myfreetaxes com kingcounty gov/efile. Myfreetaxes com kingcounty Refunds. Myfreetaxes com kingcounty   You can have a refund check mailed to you, or you can have your refund deposited directly to your checking or savings account or split among two or three accounts. Myfreetaxes com kingcounty With e-file, your refund will be issued faster than if you filed on paper. Myfreetaxes com kingcounty   As with a paper return, you may not get all of your refund if you owe certain past-due amounts, such as federal tax, state income tax, state unemployment compensation debts, child support, spousal support, or certain other federal nontax debts, such as student loans. Myfreetaxes com kingcounty See Offset against debts under Refunds, later. Myfreetaxes com kingcounty Refund inquiries. Myfreetaxes com kingcounty   Information about your return will generally be available within 24 hours after the IRS receives your e-filed return. Myfreetaxes com kingcounty See Refund Information , later. Myfreetaxes com kingcounty Amount you owe. Myfreetaxes com kingcounty   To avoid late-payment penalties and interest, pay your taxes in full by April 15, 2014. Myfreetaxes com kingcounty See How To Pay , later, for information on how to pay the amount you owe. Myfreetaxes com kingcounty Using Your Personal Computer You can file your tax return in a fast, easy, and convenient way using your personal computer. Myfreetaxes com kingcounty A computer with Internet access and tax preparation software are all you need. Myfreetaxes com kingcounty Best of all, you can e-file from the comfort of your home 24 hours a day, 7 days a week. Myfreetaxes com kingcounty IRS approved tax preparation software is available for online use on the Internet, for download from the Internet, and in retail stores. Myfreetaxes com kingcounty For information, visit www. Myfreetaxes com kingcounty irs. Myfreetaxes com kingcounty gov/efile. Myfreetaxes com kingcounty Through Employers and Financial Institutions Some businesses offer free e-file to their employees, members, or customers. Myfreetaxes com kingcounty Others offer it for a fee. Myfreetaxes com kingcounty Ask your employer or financial institution if they offer IRS e-file as an employee, member, or customer benefit. Myfreetaxes com kingcounty Free Help With Your Return Free help in preparing your return is available nationwide from IRS-trained volunteers. Myfreetaxes com kingcounty The Volunteer Income Tax Assistance (VITA) program is designed to help low to moderate income taxpayers and the Tax Counseling for the Elderly (TCE) program is designed to assist taxpayers age 60 or older with their tax returns. Myfreetaxes com kingcounty Many VITA sites offer free electronic filing and all volunteers will let you know about the credits and deductions you may be entitled to claim. Myfreetaxes com kingcounty To find a site near you, call 1-800-906-9887. Myfreetaxes com kingcounty Or to find the nearest AARP TaxAide site, visit AARP's website at www. Myfreetaxes com kingcounty aarp. Myfreetaxes com kingcounty org/taxaide or call 1-888-227-7669. Myfreetaxes com kingcounty For more information on these programs, go to IRS. Myfreetaxes com kingcounty gov and enter keyword “VITA” in the search box. Myfreetaxes com kingcounty Using a Tax Professional Many tax professionals electronically file tax returns for their clients. Myfreetaxes com kingcounty You may personally enter your PIN or complete Form 8879, IRS e-file Signature Authorization, to authorize the tax professional to enter your PIN on your return. Myfreetaxes com kingcounty Note. Myfreetaxes com kingcounty Tax professionals may charge a fee for IRS e-file. Myfreetaxes com kingcounty Fees can vary depending on the professional and the specific services rendered. Myfreetaxes com kingcounty When Do I Have To File? April 15, 2014, is the due date for filing your 2013 income tax return if you use the calendar year. Myfreetaxes com kingcounty For a quick view of due dates for filing a return with or without an extension of time to file (discussed later), see Table 1-5. Myfreetaxes com kingcounty Table 1-5. Myfreetaxes com kingcounty When To File Your 2013 Return For U. Myfreetaxes com kingcounty S. Myfreetaxes com kingcounty citizens and residents who file returns on a calendar year. Myfreetaxes com kingcounty   For Most Taxpayers For Certain Taxpayers Outside the U. Myfreetaxes com kingcounty S. Myfreetaxes com kingcounty No extension requested April 15, 2014 June 16, 2014 Automatic extension October 15, 2014 October 15, 2014 If you use a fiscal year (a year ending on the last day of any month except December, or a 52-53-week year), your income tax return is due by the 15th day of the 4th month after the close of your fiscal year. Myfreetaxes com kingcounty When the due date for doing any act for tax purposes—filing a return, paying taxes, etc. Myfreetaxes com kingcounty —falls on a Saturday, Sunday, or legal holiday, the due date is delayed until the next business day. Myfreetaxes com kingcounty Filing paper returns on time. Myfreetaxes com kingcounty   Your paper return is filed on time if it is mailed in an envelope that is properly addressed, has enough postage, and is postmarked by the due date. Myfreetaxes com kingcounty If you send your return by registered mail, the date of the registration is the postmark date. Myfreetaxes com kingcounty The registration is evidence that the return was delivered. Myfreetaxes com kingcounty If you send a return by certified mail and have your receipt postmarked by a postal employee, the date on the receipt is the postmark date. Myfreetaxes com kingcounty The postmarked certified mail receipt is evidence that the return was delivered. Myfreetaxes com kingcounty Private delivery services. Myfreetaxes com kingcounty   If you use a private delivery service designated by the IRS to send your return, the postmark date generally is the date the private delivery service records in its database or marks on the mailing label. Myfreetaxes com kingcounty The private delivery service can tell you how to get written proof of this date. Myfreetaxes com kingcounty   For the IRS mailing address to use if you are using a private delivery service, go to IRS. Myfreetaxes com kingcounty gov and enter “private delivery service” in the search box. Myfreetaxes com kingcounty   The following are designated private delivery services. Myfreetaxes com kingcounty DHL Express (DHL): Same Day Service. Myfreetaxes com kingcounty Federal Express (FedEx): FedEx Priority Overnight, FedEx Standard Overnight, FedEx 2Day, FedEx International Priority, and FedEx International First. Myfreetaxes com kingcounty United Parcel Service (UPS): UPS Next Day Air, UPS Next Day Air Saver, UPS 2nd Day Air, UPS 2nd Day Air A. Myfreetaxes com kingcounty M. Myfreetaxes com kingcounty , UPS Worldwide Express Plus, and UPS Worldwide Express. Myfreetaxes com kingcounty Filing electronic returns on time. Myfreetaxes com kingcounty   If you use IRS e-file, your return is considered filed on time if the authorized electronic return transmitter postmarks the transmission by the due date. Myfreetaxes com kingcounty An authorized electronic return transmitter is a participant in the IRS e-file program that transmits electronic tax return information directly to the IRS. Myfreetaxes com kingcounty   The electronic postmark is a record of when the authorized electronic return transmitter received the transmission of your electronically filed return on its host system. Myfreetaxes com kingcounty The date and time in your time zone controls whether your electronically filed return is timely. Myfreetaxes com kingcounty Filing late. Myfreetaxes com kingcounty   If you do not file your return by the due date, you may have to pay a failure-to-file penalty and interest. Myfreetaxes com kingcounty For more information, see Penalties , later. Myfreetaxes com kingcounty Also see Interest under Amount You Owe. Myfreetaxes com kingcounty   If you were due a refund but you did not file a return, you generally must file within 3 years from the date the return was due (including extensions) to get that refund. Myfreetaxes com kingcounty Nonresident alien. Myfreetaxes com kingcounty    If you are a nonresident alien and earn wages subject to U. Myfreetaxes com kingcounty S. Myfreetaxes com kingcounty income tax withholding, your 2013 U. Myfreetaxes com kingcounty S. Myfreetaxes com kingcounty income tax return (Form 1040NR or Form 1040NR-EZ) is due by: April 15, 2014, if you use a calendar year, or The 15th day of the 4th month after the end of your fiscal year if you use a fiscal year. Myfreetaxes com kingcounty   If you do not earn wages subject to U. Myfreetaxes com kingcounty S. Myfreetaxes com kingcounty income tax withholding, your return is due by: June 16, 2014, if you use a calendar year, or The 15th day of the 6th month after the end of your fiscal year, if you use a fiscal year. Myfreetaxes com kingcounty See Publication 519 for more filing information. Myfreetaxes com kingcounty Filing for a decedent. Myfreetaxes com kingcounty   If you must file a final income tax return for a taxpayer who died during the year (a decedent), the return is due by the 15th day of the 4th month after the end of the decedent's normal tax year. Myfreetaxes com kingcounty See Publication 559. Myfreetaxes com kingcounty Extensions of Time To File You may be able to get an extension of time to file your return. Myfreetaxes com kingcounty There are three types of situations where you may qualify for an extension: Automatic extensions, You are outside the United States, or You are serving in a combat zone. Myfreetaxes com kingcounty Automatic Extension If you cannot file your 2013 return by the due date, you may be able to get an automatic 6-month extension of time to file. Myfreetaxes com kingcounty Example. Myfreetaxes com kingcounty If your return is due on April 15, 2014, you will have until October 15, 2014, to file. Myfreetaxes com kingcounty If you do not pay the tax due by the regular due date (generally, April 15), you will owe interest. Myfreetaxes com kingcounty You may also be charged penalties, discussed later. Myfreetaxes com kingcounty How to get the automatic extension. Myfreetaxes com kingcounty   You can get the automatic extension by: Using IRS e-file (electronic filing), or Filing a paper form. Myfreetaxes com kingcounty E-file options. Myfreetaxes com kingcounty   There are two ways you can use e-file to get an extension of time to file. Myfreetaxes com kingcounty Complete Form 4868, Application for Automatic Extension of Time To File U. Myfreetaxes com kingcounty S. Myfreetaxes com kingcounty Individual Income Tax Return, to use as a worksheet. Myfreetaxes com kingcounty If you think you may owe tax when you file your return, use Part II of the form to estimate your balance due. Myfreetaxes com kingcounty If you e-file Form 4868 to the IRS, do not also send a paper Form 4868. Myfreetaxes com kingcounty E-file using your personal computer or a tax professional. Myfreetaxes com kingcounty    You can use a tax software package with your personal computer or a tax professional to file Form 4868 electronically. Myfreetaxes com kingcounty You will need to provide certain information from your tax return for 2012. Myfreetaxes com kingcounty If you wish to make a payment by direct transfer from your bank account, see Pay online , under How To Pay, later in this chapter. Myfreetaxes com kingcounty E-file and pay by credit or debit card or by direct transfer from your bank account. Myfreetaxes com kingcounty   You can get an extension by paying part or all of your estimate of tax due by using a credit or debit card or by direct transfer from your bank account. Myfreetaxes com kingcounty You can do this by phone or over the Internet. Myfreetaxes com kingcounty You do not file Form 4868. Myfreetaxes com kingcounty See Pay online , under How To Pay, later in this chapter. Myfreetaxes com kingcounty Filing a paper Form 4868. Myfreetaxes com kingcounty   You can get an extension of time to file by filing a paper Form 4868. Myfreetaxes com kingcounty Mail it to the address shown in the form instructions. Myfreetaxes com kingcounty   If you want to make a payment with the form, make your check or money order payable to “United States Treasury. Myfreetaxes com kingcounty ” Write your SSN, daytime phone number, and “2013 Form 4868” on your check or money order. Myfreetaxes com kingcounty When to file. Myfreetaxes com kingcounty   You must request the automatic extension by the due date for your return. Myfreetaxes com kingcounty You can file your return any time before the 6-month extension period ends. Myfreetaxes com kingcounty When you file your return. Myfreetaxes com kingcounty   Enter any payment you made related to the extension of time to file on Form 1040, line 68. Myfreetaxes com kingcounty If you file Form 1040EZ or Form 1040A, include that payment in your total payments on Form 1040EZ, line 9, or Form 1040A, line 41. Myfreetaxes com kingcounty Also enter “Form 4868” and the amount paid in the space to the left of line 9 or line 41. Myfreetaxes com kingcounty Individuals Outside the United States You are allowed an automatic 2-month extension, without filing Form 4868, (until June 16, 2014, if you use the calendar year) to file your 2013 return and pay any federal income tax due if: You are a U. Myfreetaxes com kingcounty S. Myfreetaxes com kingcounty citizen or resident, and On the due date of your return: You are living outside the United States and Puerto Rico, and your main place of business or post of duty is outside the United States and Puerto Rico, or You are in military or naval service on duty outside the United States and  Puerto Rico. Myfreetaxes com kingcounty However, if you pay the tax due after the regular due date (generally, April 15), interest will be charged from that date until the date the tax is paid. Myfreetaxes com kingcounty If you served in a combat zone or qualified hazardous duty area, you may be eligible for a longer extension of time to file. Myfreetaxes com kingcounty See Individuals Serving in Combat Zone , later, for special rules that apply to you. Myfreetaxes com kingcounty Married taxpayers. Myfreetaxes com kingcounty   If you file a joint return, only one spouse has to qualify for this automatic extension. Myfreetaxes com kingcounty If you and your spouse file separate returns, this automatic extension applies only to the spouse who qualifies. Myfreetaxes com kingcounty How to get the extension. Myfreetaxes com kingcounty   To use this automatic extension, you must attach a statement to your return explaining what situation qualified you for the extension. Myfreetaxes com kingcounty (See the situations listed under (2), earlier. Myfreetaxes com kingcounty ) Extensions beyond 2 months. Myfreetaxes com kingcounty   If you cannot file your return within the automatic 2-month extension period, you may be able to get an additional 4-month extension, for a total of 6 months. Myfreetaxes com kingcounty File Form 4868 and check the box on line 8. Myfreetaxes com kingcounty No further extension. Myfreetaxes com kingcounty   An extension of more than 6 months will generally not be granted. Myfreetaxes com kingcounty However, if you are outside the United States and meet certain tests, you may be granted a longer extension. Myfreetaxes com kingcounty For more information, see When To File and Pay in Publication 54. Myfreetaxes com kingcounty Individuals Serving in Combat Zone The deadline for filing your tax return, paying any tax you may owe, and filing a claim for refund is automatically extended if you serve in a combat zone. Myfreetaxes com kingcounty This applies to members of the Armed Forces, as well as merchant marines serving aboard vessels under the operational control of the Department of Defense, Red Cross personnel, accredited correspondents, and civilians under the direction of the Armed Forces in support of the Armed Forces. Myfreetaxes com kingcounty Combat zone. Myfreetaxes com kingcounty   For purposes of the automatic extension, the term “combat zone” includes the following areas. Myfreetaxes com kingcounty The Arabian peninsula area, effective January 17, 1991. Myfreetaxes com kingcounty The Kosovo area, effective March 24, 1999. Myfreetaxes com kingcounty Afghanistan area, effective September 19, 2001. Myfreetaxes com kingcounty   See Publication 3, Armed Forces' Tax Guide, for more detailed information on the locations comprising each combat zone. Myfreetaxes com kingcounty The publication also has information about other tax benefits available to military personnel serving in a combat zone. Myfreetaxes com kingcounty Extension period. Myfreetaxes com kingcounty   The deadline for filing your return, paying any tax due, and filing a claim for refund is extended for at least 180 days after the later of: The last day you are in a combat zone or the last day the area qualifies as a combat zone, or The last day of any continuous qualified hospitalization for injury from service in the combat zone. Myfreetaxes com kingcounty   In addition to the 180 days, your deadline is also extended by the number of days you had left to take action with the IRS when you entered the combat zone. Myfreetaxes com kingcounty For example, you have 3½ months (January 1 – April 15) to file your tax return. Myfreetaxes com kingcounty Any days left in this period when you entered the combat zone (or the entire 3½ months if you entered it before the beginning of the year) are added to the 180 days. Myfreetaxes com kingcounty See Extension of Deadlines in Publication 3 for more information. Myfreetaxes com kingcounty   The rules on the extension for filing your return also apply when you are deployed outside the United States (away from your permanent duty station) while participating in a designated contingency operation. Myfreetaxes com kingcounty How Do I Prepare My Return? This section explains how to get ready to fill in your tax return and when to report your income and expenses. Myfreetaxes com kingcounty It also explains how to complete certain sections of the form. Myfreetaxes com kingcounty You may find Table 1-6 helpful when you prepare your paper return. Myfreetaxes com kingcounty Table 1-6. Myfreetaxes com kingcounty Six Steps for Preparing Your Paper Return 1 — Get your records together for income and expenses. Myfreetaxes com kingcounty 2 — Get the forms, schedules, and publications you need. Myfreetaxes com kingcounty 3 — Fill in your return. Myfreetaxes com kingcounty 4 — Check your return to make sure it is correct. Myfreetaxes com kingcounty 5 — Sign and date your return. Myfreetaxes com kingcounty 6 — Attach all required forms and schedules. Myfreetaxes com kingcounty Electronic returns. Myfreetaxes com kingcounty   For information you may find useful in preparing a paperless return, see Does My Return Have To Be on Paper , earlier. Myfreetaxes com kingcounty Substitute tax forms. Myfreetaxes com kingcounty   You cannot use your own version of a tax form unless it meets the requirements explained in Publication 1167, General Rules and Specifications for Substitute Forms and Schedules. Myfreetaxes com kingcounty Form W-2. Myfreetaxes com kingcounty   If you were an employee, you should receive Form W-2 from your employer. Myfreetaxes com kingcounty You will need the information from this form to prepare your return. Myfreetaxes com kingcounty See Form W-2 under Credit for Withholding and Estimated Tax in chapter 4. Myfreetaxes com kingcounty   Your employer is required to provide or send Form W-2 to you no later than January 31, 2014. Myfreetaxes com kingcounty If it is mailed, you should allow adequate time to receive it before contacting your employer. Myfreetaxes com kingcounty If you still do not get the form by February 15, the IRS can help you by requesting the form from your employer. Myfreetaxes com kingcounty When you request IRS help, be prepared to provide the following information. Myfreetaxes com kingcounty Your name, address (including ZIP code), and phone number. Myfreetaxes com kingcounty Your SSN. Myfreetaxes com kingcounty Your dates of employment. Myfreetaxes com kingcounty Your employer's name, address (including ZIP code), and phone number. Myfreetaxes com kingcounty Form 1099. Myfreetaxes com kingcounty   If you received certain types of income, you may receive a Form 1099. Myfreetaxes com kingcounty For example, if you received taxable interest of $10 or more, the payer is required to provide or send Form 1099 to you no later than January 31, 2014 (or by February 18, 2014, if furnished by a broker). Myfreetaxes com kingcounty If it is mailed, you should allow adequate time to receive it before contacting the payer. Myfreetaxes com kingcounty If you still do not get the form by February 18 (or by March 5, 2014, if furnished by a broker), call the IRS for help. Myfreetaxes com kingcounty When Do I Report My Income and Expenses? You must figure your taxable income on the basis of a tax year. Myfreetaxes com kingcounty A “tax year” is an annual accounting period used for keeping records and reporting income and expenses. Myfreetaxes com kingcounty You must account for your income and expenses in a way that clearly shows your taxable income. Myfreetaxes com kingcounty The way you do this is called an accounting method. Myfreetaxes com kingcounty This section explains which accounting periods and methods you can use. Myfreetaxes com kingcounty Accounting Periods Most individual tax returns cover a calendar year—the 12 months from January 1 through December 31. Myfreetaxes com kingcounty If you do not use a calendar year, your accounting period is a fiscal year. Myfreetaxes com kingcounty A regular fiscal year is a 12-month period that ends on the last day of any month except December. Myfreetaxes com kingcounty A 52-53-week fiscal year varies from 52 to 53 weeks and always ends on the same day of the week. Myfreetaxes com kingcounty You choose your accounting period (tax year) when you file your first income tax return. Myfreetaxes com kingcounty It cannot be longer than 12 months. Myfreetaxes com kingcounty More information. Myfreetaxes com kingcounty   For more information on accounting periods, including how to change your accounting period, see Publication 538, Accounting Periods and Methods. Myfreetaxes com kingcounty Accounting Methods Your accounting method is the way you account for your income and expenses. Myfreetaxes com kingcounty Most taxpayers use either the cash method or an accrual method. Myfreetaxes com kingcounty You choose a method when you file your first income tax return. Myfreetaxes com kingcounty If you want to change your accounting method after that, you generally must get IRS approval. Myfreetaxes com kingcounty Cash method. Myfreetaxes com kingcounty   If you use this method, report all items of income in the year in which you actually or constructively receive them. Myfreetaxes com kingcounty Generally, you deduct all expenses in the year you actually pay them. Myfreetaxes com kingcounty This is the method most individual taxpayers use. Myfreetaxes com kingcounty Constructive receipt. Myfreetaxes com kingcounty   Generally, you constructively receive income when it is credited to your account or set apart in any way that makes it available to you. Myfreetaxes com kingcounty You do not need to have physical possession of it. Myfreetaxes com kingcounty For example, interest credited to your bank account on December 31, 2013, is taxable income to you in 2013 if you could have withdrawn it in 2013 (even if the amount is not entered in your records or withdrawn until 2014). Myfreetaxes com kingcounty Garnisheed wages. Myfreetaxes com kingcounty   If your employer uses your wages to pay your debts, or if your wages are attached or garnisheed, the full amount is constructively received by you. Myfreetaxes com kingcounty You must include these wages in income for the year you would have received them. Myfreetaxes com kingcounty Debts paid for you. Myfreetaxes com kingcounty   If another person cancels or pays your debts (but not as a gift or loan), you have constructively received the amount and generally must include it in your gross income for the year. Myfreetaxes com kingcounty See Canceled Debts in chapter 12 for more information. Myfreetaxes com kingcounty Payment to third party. Myfreetaxes com kingcounty   If a third party is paid income from property you own, you have constructively received the income. Myfreetaxes com kingcounty It is the same as if you had actually received the income and paid it to the third party. Myfreetaxes com kingcounty Payment to an agent. Myfreetaxes com kingcounty   Income an agent receives for you is income you constructively received in the year the agent receives it. Myfreetaxes com kingcounty If you indicate in a contract that your income is to be paid to another person, you must include the amount in your gross income when the other person receives it. Myfreetaxes com kingcounty Check received or available. Myfreetaxes com kingcounty   A valid check that was made available to you before the end of the tax year is constructively received by you in that year. Myfreetaxes com kingcounty A check that was “made available to you” includes a check you have already received, but not cashed or deposited. Myfreetaxes com kingcounty It also includes, for example, your last paycheck of the year that your employer made available for you to pick up at the office before the end of the year. Myfreetaxes com kingcounty It is constructively received by you in that year whether or not you pick it up before the end of the year or wait to receive it by mail after the end of the year. Myfreetaxes com kingcounty No constructive receipt. Myfreetaxes com kingcounty   There may be facts to show that you did not constructively receive income. Myfreetaxes com kingcounty Example. Myfreetaxes com kingcounty Alice Johnson, a teacher, agreed to her school board's condition that, in her absence, she would receive only the difference between her regular salary and the salary of a substitute teacher hired by the school board. Myfreetaxes com kingcounty Therefore, Alice did not constructively receive the amount by which her salary was reduced to pay the substitute teacher. Myfreetaxes com kingcounty Accrual method. Myfreetaxes com kingcounty   If you use an accrual method, you generally report income when you earn it, rather than when you receive it. Myfreetaxes com kingcounty You generally deduct your expenses when you incur them, rather than when you pay them. Myfreetaxes com kingcounty Income paid in advance. Myfreetaxes com kingcounty   An advance payment of income is generally included in gross income in the year you receive it. Myfreetaxes com kingcounty Your method of accounting does not matter as long as the income is available to you. Myfreetaxes com kingcounty An advance payment may include rent or interest you receive in advance and pay for services you will perform later. Myfreetaxes com kingcounty   A limited deferral until the next tax year may be allowed for certain advance payments. Myfreetaxes com kingcounty See Publication 538 for specific information. Myfreetaxes com kingcounty Additional information. Myfreetaxes com kingcounty   For more information on accounting methods, including how to change your accounting method, see Publication 538. Myfreetaxes com kingcounty Social Security Number (SSN) You must enter your SSN on your return. Myfreetaxes com kingcounty If you are married, enter the SSNs for both you and your spouse, whether you file jointly or separately. Myfreetaxes com kingcounty If you are filing a joint return, include the SSNs in the same order as the names. Myfreetaxes com kingcounty Use this same order in submitting other forms and documents to the IRS. Myfreetaxes com kingcounty Check that both the name and SSN on your Form 1040, W-2, and 1099 agree with your social security card. Myfreetaxes com kingcounty If they do not, certain deductions and credits on your Form 1040 may be reduced or disallowed and you may not receive credit for your social security earnings. Myfreetaxes com kingcounty If your Form W-2 shows an incorrect SSN or name, notify your employer or the form-issuing agent as soon as possible to make sure your earnings are credited to your social security record. Myfreetaxes com kingcounty If the name or SSN on your social security card is incorrect, call the SSA at 1-800-772-1213. Myfreetaxes com kingcounty Name change. Myfreetaxes com kingcounty   If you changed your name because of marriage, divorce, etc. Myfreetaxes com kingcounty , be sure to report the change to your local Social Security Administration (SSA) office before filing your return. Myfreetaxes com kingcounty This prevents delays in processing your return and issuing refunds. Myfreetaxes com kingcounty It also safeguards your future social security benefits. Myfreetaxes com kingcounty Dependent's SSN. Myfreetaxes com kingcounty   You must provide the SSN of each dependent you claim, regardless of the dependent's age. Myfreetaxes com kingcounty This requirement applies to all dependents (not just your children) claimed on your tax return. Myfreetaxes com kingcounty Exception. Myfreetaxes com kingcounty    If your child was born and died in 2013 and did not have an SSN, enter “DIED” in column (2) of line 6c (Form 1040 or 1040A) and include a copy of the child's birth certificate, death certificate, or hospital records. Myfreetaxes com kingcounty The document must show that the child was born alive. Myfreetaxes com kingcounty No SSN. Myfreetaxes com kingcounty   File Form SS-5, Application for a Social Security Card, with your local SSA office to get an SSN for yourself or your dependent. Myfreetaxes com kingcounty It usually takes about 2 weeks to get an SSN. Myfreetaxes com kingcounty If you or your dependent is not eligible for an SSN, see Individual taxpayer identification number (ITIN) , later. Myfreetaxes com kingcounty   If you are a U. Myfreetaxes com kingcounty S. Myfreetaxes com kingcounty citizen or resident alien, you must show proof of age, identity, and citizenship or alien status with your Form SS-5. Myfreetaxes com kingcounty If you are 12 or older and have never been assigned an SSN, you must appear in person with this proof at an SSA office. Myfreetaxes com kingcounty   Form SS-5 is available at any SSA office, on the Internet at www. Myfreetaxes com kingcounty socialsecurity. Myfreetaxes com kingcounty gov, or by calling 1-800-772-1213. Myfreetaxes com kingcounty If you have any questions about which documents you can use as proof of age, identity, or citizenship, contact your SSA office. Myfreetaxes com kingcounty   If your dependent does not have an SSN by the time your return is due, you may want to ask for an extension of time to file, as explained earlier under When Do I Have To File . Myfreetaxes com kingcounty   If you do not provide a required SSN or if you provide an incorrect SSN, your tax may be increased and any refund may be reduced. Myfreetaxes com kingcounty Adoption taxpayer identification number (ATIN). Myfreetaxes com kingcounty   If you are in the process of adopting a child who is a U. Myfreetaxes com kingcounty S. Myfreetaxes com kingcounty citizen or resident and cannot get an SSN for the child until the adoption is final, you can apply for an ATIN to use instead of an SSN. Myfreetaxes com kingcounty    File Form W-7A, Application for Taxpayer Identification Number for Pending U. Myfreetaxes com kingcounty S. Myfreetaxes com kingcounty Adoptions, with the IRS to get an ATIN if all of the following are true. Myfreetaxes com kingcounty You have a child living with you who was placed in your home for legal adoption. Myfreetaxes com kingcounty You cannot get the child's existing SSN even though you have made a reasonable attempt to get it from the birth parents, the placement agency, and other persons. Myfreetaxes com kingcounty You cannot get an SSN for the child from the SSA because, for example, the adoption is not final. Myfreetaxes com kingcounty You are eligible to claim the child as a dependent on your tax return. Myfreetaxes com kingcounty After the adoption is final, you must apply for an SSN for the child. Myfreetaxes com kingcounty You cannot continue using the ATIN. Myfreetaxes com kingcounty   See Form W-7A for more information. Myfreetaxes com kingcounty Nonresident alien spouse. Myfreetaxes com kingcounty   If your spouse is a nonresident alien, your spouse must have either an SSN or an ITIN if: You file a joint return, You file a separate return and claim an exemption for your spouse, or Your spouse is filing a separate return. Myfreetaxes com kingcounty If your spouse is not eligible for an SSN, see the following discussion on ITINs. Myfreetaxes com kingcounty Individual taxpayer identification number (ITIN). Myfreetaxes com kingcounty   The IRS will issue you an ITIN if you are a nonresident or resident alien and you do not have and are not eligible to get an SSN. Myfreetaxes com kingcounty This also applies to an alien spouse or dependent. Myfreetaxes com kingcounty To apply for an ITIN, file Form W-7 with the IRS. Myfreetaxes com kingcounty It usually takes about 6 to 10 weeks to get an ITIN. Myfreetaxes com kingcounty Enter the ITIN on your tax return wherever an SSN is requested. Myfreetaxes com kingcounty    If you are applying for an ITIN for yourself, your spouse, or a dependent in order to file your tax return, attach your completed tax return to your Form W-7. Myfreetaxes com kingcounty See the Form W-7 instructions for how and where to file. Myfreetaxes com kingcounty You cannot e-file a return using an ITIN in the calendar year the ITIN is issued; however, you can e-file returns in the following years. Myfreetaxes com kingcounty ITIN for tax use only. Myfreetaxes com kingcounty   An ITIN is for tax use only. Myfreetaxes com kingcounty It does not entitle you or your dependent to social security benefits or change the employment or immigration status of either of you under U. Myfreetaxes com kingcounty S. Myfreetaxes com kingcounty law. Myfreetaxes com kingcounty Penalty for not providing social security number. Myfreetaxes com kingcounty   If you do not include your SSN or the SSN of your spouse or dependent as required, you may have to pay a penalty. Myfreetaxes com kingcounty See the discussion on Penalties , later, for more information. Myfreetaxes com kingcounty SSN on correspondence. Myfreetaxes com kingcounty   If you write to the IRS about your tax account, be sure to include your SSN (and the name and SSN of your spouse, if you filed a joint return) in your correspondence. Myfreetaxes com kingcounty Because your SSN is used to identify your account, this helps the IRS respond to your correspondence promptly. Myfreetaxes com kingcounty Presidential Election Campaign Fund This fund helps pay for Presidential election campaigns. Myfreetaxes com kingcounty If you want $3 to go to this fund, check the box. Myfreetaxes com kingcounty If you are filing a joint return, your spouse can also have $3 go to the fund. Myfreetaxes com kingcounty If you check a box, your tax or refund will not change. Myfreetaxes com kingcounty Computations The following information may be useful in making the return easier to complete. Myfreetaxes com kingcounty Rounding off dollars. Myfreetaxes com kingcounty   You can round off cents to whole dollars on your return and schedules. Myfreetaxes com kingcounty If you do round to whole dollars, you must round all amounts. Myfreetaxes com kingcounty To round, drop amounts under 50 cents and increase amounts from 50 to 99 cents to the next dollar. Myfreetaxes com kingcounty For example, $1. Myfreetaxes com kingcounty 39 becomes $1 and $2. Myfreetaxes com kingcounty 50 becomes $3. Myfreetaxes com kingcounty   If you have to add two or more amounts to figure the amount to enter on a line, include cents when adding the amounts and round off only the total. Myfreetaxes com kingcounty Example. Myfreetaxes com kingcounty You receive two Forms W-2: one showing wages of $5,000. Myfreetaxes com kingcounty 55 and one showing wages of $18,500. Myfreetaxes com kingcounty 73. Myfreetaxes com kingcounty On Form 1040, line 7, you would enter $23,501 ($5,000. Myfreetaxes com kingcounty 55 + $18,500. Myfreetaxes com kingcounty 73 = $23,501. Myfreetaxes com kingcounty 28), not $23,502 ($5,001 + $18,501). Myfreetaxes com kingcounty Equal amounts. Myfreetaxes com kingcounty   If you are asked to enter the smaller or larger of two equal amounts, enter that amount. Myfreetaxes com kingcounty Example. Myfreetaxes com kingcounty Line 1 is $500. Myfreetaxes com kingcounty Line 3 is $500. Myfreetaxes com kingcounty Line 5 asks you to enter the smaller of line 1 or 3. Myfreetaxes com kingcounty Enter $500 on line 5. Myfreetaxes com kingcounty Negative amounts. Myfreetaxes com kingcounty   If you file a paper return and you need to enter a negative amount, put the amount in parentheses rather than using a minus sign. Myfreetaxes com kingcounty To combine positive and negative amounts, add all the positive amounts together and then subtract the negative amounts. Myfreetaxes com kingcounty Attachments Depending on the form you file and the items reported on your return, you may have to complete additional schedules and forms and attach them to your paper return. Myfreetaxes com kingcounty You may be able to file a paperless return using IRS e-file. Myfreetaxes com kingcounty There's nothing to attach or mail, not even your Forms W-2. Myfreetaxes com kingcounty See Does My Return Have To Be on Paper, earlier. Myfreetaxes com kingcounty Form W-2. Myfreetaxes com kingcounty   Form W-2 is a statement from your employer of wages and other compensation paid to you and taxes withheld from your pay. Myfreetaxes com kingcounty You should have a Form W-2 from each employer. Myfreetaxes com kingcounty If you file a paper return, be sure to attach a copy of Form W-2 in the place indicated on the front page of your return. Myfreetaxes com kingcounty Attach it to the front page of your paper return, not to any attachments. Myfreetaxes com kingcounty For more information, see Form W-2 in chapter 4. Myfreetaxes com kingcounty   If you received a Form 1099-R, Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. Myfreetaxes com kingcounty , showing federal income tax withheld, and you file a paper return, attach a copy of that form in the place indicated on the front page of your return. Myfreetaxes com kingcounty Form 1040EZ. Myfreetaxes com kingcounty   There are no additional schedules to file with Form 1040EZ. Myfreetaxes com kingcounty Form 1040A. Myfreetaxes com kingcounty   If you file a paper return, attach any forms and schedules behind Form 1040A in order of the “Attachment Sequence Number” shown in the upper right corner of the form or schedule. Myfreetaxes com kingcounty Then arrange all other statements or attachments in the same order as the forms and schedules they relate to and attach them last. Myfreetaxes com kingcounty Do not attach items unless required to do so. Myfreetaxes com kingcounty Form 1040. Myfreetaxes com kingcounty   If you file a paper return, attach any forms and schedules behind Form 1040 in order of the “Attachment Sequence Number” shown in the upper right corner of the form or schedule. Myfreetaxes com kingcounty Then arrange all other statements or attachments in the same order as the forms and schedules they relate to and attach them last. Myfreetaxes com kingcounty Do not attach items unless required to do so. Myfreetaxes com kingcounty Third Party Designee You can authorize the IRS to discuss your return with your preparer, a friend, family member, or any other person you choose. Myfreetaxes com kingcounty If you check the “Yes” box in the Third party designee area of your 2013 tax return and provide the information required, you are authorizing: The IRS to call the designee to answer any questions that arise during the processing of your return, and The designee to: Give information that is missing from your return to the IRS, Call the IRS for information about th
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Myfreetaxes com kingcounty Other Methods of Depreciation Table of Contents Topics - This chapter discusses: Useful Items - You may want to see: How To Figure the DeductionBasis Useful Life Salvage Value Methods To UseStraight Line Method Declining Balance Method Income Forecast Method How To Change Methods DispositionsSale or exchange. Myfreetaxes com kingcounty Property not disposed of or abandoned. Myfreetaxes com kingcounty Special rule for normal retirements from item accounts. Myfreetaxes com kingcounty Abandoned property. Myfreetaxes com kingcounty Single item accounts. Myfreetaxes com kingcounty Multiple property account. Myfreetaxes com kingcounty Topics - This chapter discusses: How to figure the deduction Methods to use How to change methods Dispositions Useful Items - You may want to see: Publication 544 Sales and Other Dispositions of Assets 551 Basis of Assets 583 Starting a Business and Keeping Records 946 How To Depreciate Property Form (and Instructions) 3115 Application for Change in Accounting Method 4562 Depreciation and Amortization Schedule C (Form 1040) Profit or Loss From Business If your property is being depreciated under ACRS, you must continue to use rules for depreciation that applied when you placed the property in service. Myfreetaxes com kingcounty If your property qualified for MACRS, you must depreciate it under MACRS. Myfreetaxes com kingcounty See Publication 946. Myfreetaxes com kingcounty However, you cannot use MACRS for certain property because of special rules that exclude it from MACRS. Myfreetaxes com kingcounty Also, you can elect to exclude certain property from being depreciated under MACRS. Myfreetaxes com kingcounty Property that you cannot depreciate using MACRS includes: Intangible property, Property you can elect to exclude from MACRS that you properly depreciate under a method that is not based on a term of years, Certain public utility property, Any motion picture film or video tape, Any sound recording, and Certain real and personal property placed in service before 1987. Myfreetaxes com kingcounty Intangible property. Myfreetaxes com kingcounty   You cannot depreciate intangible property under ACRS or MACRS. Myfreetaxes com kingcounty You depreciate intangible property using any other reasonable method, usually, the straight line method. Myfreetaxes com kingcounty Note. Myfreetaxes com kingcounty The cost of certain intangible property that you acquire after August 10, 1993, must be amortized over a 15-year period. Myfreetaxes com kingcounty For more information, see chapter 12 of Publication 535. Myfreetaxes com kingcounty Public utility property. Myfreetaxes com kingcounty   The law excludes from MACRS any public utility property for which the taxpayer does not use a normalization method of accounting. Myfreetaxes com kingcounty This type of property is subject to depreciation under a special rule. Myfreetaxes com kingcounty Videocassettes. Myfreetaxes com kingcounty   If you are in the videocassette rental business, you can depreciate those videocassettes purchased for rental. Myfreetaxes com kingcounty You can depreciate the cost less salvage value of those videocassettes that have a useful life over one year using either: The straight line method, or The income forecast method. Myfreetaxes com kingcounty The straight line method, salvage value, and useful life are discussed later under Methods To Use. Myfreetaxes com kingcounty You can deduct in the year of purchase as a business expense the cost of any cassette that has a useful life of one year or less. Myfreetaxes com kingcounty How To Figure the Deduction Two other reasonable methods can be used to figure your deduction for property not covered under ACRS or MACRS. Myfreetaxes com kingcounty These methods are straight line and declining balance. Myfreetaxes com kingcounty To figure depreciation using these methods, you must generally determine three things about the property you intend to depreciate. Myfreetaxes com kingcounty They are: The basis, The useful life, and The estimated salvage value at the end of its useful life. Myfreetaxes com kingcounty The amount of the deduction in any year also depends on which method of depreciation you choose. Myfreetaxes com kingcounty Basis To deduct the proper amount of depreciation each year, first determine your basis in the property you intend to depreciate. Myfreetaxes com kingcounty The basis used for figuring depreciation is the same as the basis that would be used for figuring the gain on a sale. Myfreetaxes com kingcounty Your original basis is usually the purchase price. Myfreetaxes com kingcounty However, if you acquire property in some other way, such as inheriting it, getting it as a gift, or building it yourself, you have to figure your original basis in a different way. Myfreetaxes com kingcounty Adjusted basis. Myfreetaxes com kingcounty   Events will often change the basis of property. Myfreetaxes com kingcounty When this occurs, the changed basis is called the adjusted basis. Myfreetaxes com kingcounty Some events, such as improvements you make, increase basis. Myfreetaxes com kingcounty Events such as deducting casualty losses and depreciation decrease basis. Myfreetaxes com kingcounty If basis is adjusted, the depreciation deduction may also have to be changed, depending on the reason for the adjustment and the method of depreciation you are using. Myfreetaxes com kingcounty   Publication 551 explains how to figure basis for property acquired in different ways. Myfreetaxes com kingcounty It also discusses what items increase and decrease basis, how to figure adjusted basis, and how to allocate cost if you buy several pieces of property at one time. Myfreetaxes com kingcounty Useful Life The useful life of a piece of property is an estimate of how long you can expect to use it in your trade or business, or to produce income. Myfreetaxes com kingcounty It is the length of time over which you will make yearly depreciation deductions of your basis in the property. Myfreetaxes com kingcounty It is how long it will continue to be useful to you, not how long the property will last. Myfreetaxes com kingcounty Many things affect the useful life of property, such as: Frequency of use, Age when acquired, Your repair policy, and Environmental conditions. Myfreetaxes com kingcounty The useful life can also be affected by technological improvements, progress in the arts, reasonably foreseeable economic changes, shifting of business centers, prohibitory laws, and other causes. Myfreetaxes com kingcounty Consider all these factors before you arrive at a useful life for your property. Myfreetaxes com kingcounty The useful life of the same type of property varies from user to user. Myfreetaxes com kingcounty When you determine the useful life of your property, keep in mind your own experience with similar property. Myfreetaxes com kingcounty You can use the general experience of the industry you are in until you are able to determine a useful life of your property from your own experience. Myfreetaxes com kingcounty Change in useful life. Myfreetaxes com kingcounty   You base your estimate of useful life on certain facts. Myfreetaxes com kingcounty If these facts change significantly, you can adjust your estimate of the remaining useful life. Myfreetaxes com kingcounty However, you redetermine the estimated useful life only when the change is substantial and there is a clear reason for making the change. Myfreetaxes com kingcounty Salvage Value It is important for you to accurately determine the correct salvage value of the property you want to depreciate. Myfreetaxes com kingcounty You generally cannot depreciate property below a reasonable salvage value. Myfreetaxes com kingcounty Determining salvage value. Myfreetaxes com kingcounty   Salvage value is the estimated value of property at the end of its useful life. Myfreetaxes com kingcounty It is what you expect to get for the property if you sell it after you can no longer use it productively. Myfreetaxes com kingcounty You must estimate the salvage value of a piece of property when you first acquire it. Myfreetaxes com kingcounty   Salvage value is affected both by how you use the property and how long you use it. Myfreetaxes com kingcounty If it is your policy to dispose of property that is still in good operating condition, the salvage value can be relatively large. Myfreetaxes com kingcounty However, if your policy is to use property until it is no longer usable, its salvage value can be its junk value. Myfreetaxes com kingcounty Changing salvage value. Myfreetaxes com kingcounty   Once you determine the salvage value for property, you should not change it merely because prices have changed. Myfreetaxes com kingcounty However, if you redetermine the useful life of property, as discussed earlier under Change in useful life, you can also redetermine the salvage value. Myfreetaxes com kingcounty When you redetermine the salvage value, take into account the facts that exist at the time. Myfreetaxes com kingcounty Net salvage. Myfreetaxes com kingcounty   Net salvage is the salvage value of property minus what it costs to remove it when you dispose of it. Myfreetaxes com kingcounty You can choose either salvage value or net salvage when you figure depreciation. Myfreetaxes com kingcounty You must consistently use the one you choose and the treatment of the costs of removal must be consistent with the practice adopted. Myfreetaxes com kingcounty However, if the cost to remove the property is more than the estimated salvage value, then net salvage is zero. Myfreetaxes com kingcounty Your salvage value can never be less than zero. Myfreetaxes com kingcounty Ten percent rule. Myfreetaxes com kingcounty   If you acquire personal property that has a useful life of 3 years or more, you can use an amount for salvage value that is less than your actual estimate. Myfreetaxes com kingcounty You can subtract from your estimate of salvage value an amount equal to 10% of your basis in the property. Myfreetaxes com kingcounty If salvage value is less than 10% of basis, you can ignore salvage value when you figure depreciation. Myfreetaxes com kingcounty Methods To Use Two methods of depreciation are the straight line and declining balance methods. Myfreetaxes com kingcounty If ACRS or MACRS does not apply, you can use one of these methods. Myfreetaxes com kingcounty The straight line and declining balance methods discussed in this section are not figured in the same way as straight line or declining balance methods under MACRS. Myfreetaxes com kingcounty Straight Line Method Before 1981, you could use any reasonable method for every kind of depreciable property. Myfreetaxes com kingcounty One of these methods was the straight line method. Myfreetaxes com kingcounty This method was also used for intangible property. Myfreetaxes com kingcounty It lets you deduct the same amount of depreciation each year. Myfreetaxes com kingcounty To figure your deduction, determine the adjusted basis of your property, its salvage value, and its estimated useful life. Myfreetaxes com kingcounty Subtract the salvage value, if any, from the adjusted basis. Myfreetaxes com kingcounty The balance is the total amount of depreciation you can take over the useful life of the property. Myfreetaxes com kingcounty Divide the balance by the number of years remaining in the useful life. Myfreetaxes com kingcounty This gives you the amount of your yearly depreciation deduction. Myfreetaxes com kingcounty Unless there is a big change in adjusted basis, or useful life, this amount will stay the same throughout the time you depreciate the property. Myfreetaxes com kingcounty If, in the first year, you use the property for less than a full year, you must prorate your depreciation deduction for the number of months in use. Myfreetaxes com kingcounty Example. Myfreetaxes com kingcounty In April 1994, Frank bought a franchise for $5,600. Myfreetaxes com kingcounty It expires in 10 years. Myfreetaxes com kingcounty This property is intangible property that cannot be depreciated under MACRS. Myfreetaxes com kingcounty Frank depreciates the franchise under the straight line method, using a 10-year useful life and no salvage value. Myfreetaxes com kingcounty He takes the $5,600 basis and divides that amount by 10 years ($5,600 ÷ 10 = $560, a full year's use). Myfreetaxes com kingcounty He must prorate the $560 for his 9 months of use in 1994. Myfreetaxes com kingcounty This gives him a deduction of $420 ($560 ÷ 9/12). Myfreetaxes com kingcounty In 1995, Frank can deduct $560 for the full year. Myfreetaxes com kingcounty Declining Balance Method The declining balance method allows you to recover a larger amount of the cost of the property in the early years of your use of the property. Myfreetaxes com kingcounty The rate cannot be more than twice the straight line rate. Myfreetaxes com kingcounty Rate of depreciation. Myfreetaxes com kingcounty   Under this method, you must determine your declining balance rate of depreciation. Myfreetaxes com kingcounty The initial step is to: Divide the number 1 by the useful life of your property to get a straight line rate. Myfreetaxes com kingcounty (For example, if property has a useful life of 5 years, its normal straight line rate of depreciation is ⅕, or 20%. Myfreetaxes com kingcounty ) Multiply this straight line rate by a number that is more than 1 but not more than 2 to determine the declining balance rate. Myfreetaxes com kingcounty Unless there is a change in the useful life during the time you depreciate the property, the rate of depreciation generally will not change. Myfreetaxes com kingcounty Depreciation deductions. Myfreetaxes com kingcounty   After you determine the rate of depreciation, multiply the adjusted basis of the property by it. Myfreetaxes com kingcounty This gives you the amount of your deduction. Myfreetaxes com kingcounty For example, if your adjusted basis at the beginning of the first year is $10,000, and your declining balance rate is 20%, your depreciation deduction for the first year is $2,000 ($10,000 ÷ 20%). Myfreetaxes com kingcounty To figure your depreciation deduction in the second year, you must first adjust the basis for the amount of depreciation you deducted in the first year. Myfreetaxes com kingcounty Subtract the previous year's depreciation from your basis ($10,000 - $2,000 = $8,000). Myfreetaxes com kingcounty Multiply this amount by the rate of depreciation ($8,000 ÷ 20% = $1,600). Myfreetaxes com kingcounty Your depreciation deduction for the second year is $1,600. Myfreetaxes com kingcounty   As you can see from this example, your adjusted basis in the property gets smaller each year. Myfreetaxes com kingcounty Also, under this method, deductions are larger in the earlier years and smaller in the later years. Myfreetaxes com kingcounty You can make a change to the straight line method without consent. Myfreetaxes com kingcounty Salvage value. Myfreetaxes com kingcounty   Do not subtract salvage value when you figure your yearly depreciation deductions under the declining balance method. Myfreetaxes com kingcounty However, you cannot depreciate the property below its reasonable salvage value. Myfreetaxes com kingcounty Determine salvage value using the rules discussed earlier, including the special 10% rule. Myfreetaxes com kingcounty Example. Myfreetaxes com kingcounty If your adjusted basis has been decreased to $1,000 and the rate of depreciation is 20%, your depreciation deduction should be $200. Myfreetaxes com kingcounty But if your estimate of salvage value was $900, you can only deduct $100. Myfreetaxes com kingcounty This is because $100 is the amount that would lower your adjusted basis to equal salvage value. Myfreetaxes com kingcounty Income Forecast Method The income forecast method requires income projections for each videocassette or group of videocassettes. Myfreetaxes com kingcounty You can group the videocassettes by title for making this projection. Myfreetaxes com kingcounty You determine the depreciation by applying a fraction to the cost less salvage value of the cassette. Myfreetaxes com kingcounty The numerator is the income from the videocassette for the tax year and the denominator is the total projected income for the cassette. Myfreetaxes com kingcounty For more information on the income forecast method, see Revenue Ruling 60-358 in Cumulative Bulletin 1960, Volume 2, on page 68. Myfreetaxes com kingcounty How To Change Methods In some cases, you may change your method of depreciation for property depreciated under a reasonable method. Myfreetaxes com kingcounty If you change your method of depreciation, it is generally a change in your method of accounting. Myfreetaxes com kingcounty You must get IRS consent before making the change. Myfreetaxes com kingcounty However, you do not need permission for certain changes in your method of depreciation. Myfreetaxes com kingcounty The rules discussed in this section do not apply to property depreciated under ACRS or MACRS. Myfreetaxes com kingcounty For information on ACRS elections,see Revocation of election, in chapter 1 under Alternate ACRS Method. Myfreetaxes com kingcounty Change to the straight line method. Myfreetaxes com kingcounty   You can change from the declining balance method to the straight line method at any time during the useful life of your property without IRS consent. Myfreetaxes com kingcounty However, if you have a written agreement with the IRS that prohibits a change, you must first get IRS permission. Myfreetaxes com kingcounty When the change is made, figure depreciation based on your adjusted basis in the property at that time. Myfreetaxes com kingcounty Your adjusted basis takes into account all previous depreciation deductions. Myfreetaxes com kingcounty Use the estimated remaining useful life of your property at the time of change and its estimated salvage value. Myfreetaxes com kingcounty   You can change from the declining balance method to straight line only on the original tax return for the year you first use the straight line method. Myfreetaxes com kingcounty You cannot make the change on an amended return filed after the due date of the original return (including extensions). Myfreetaxes com kingcounty   When you make the change, attach a statement to your tax return showing: When you acquired the property, Its original cost or other original basis, The total amount claimed for depreciation and other allowances since you acquired it, Its salvage value and remaining useful life, and A description of the property and its use. Myfreetaxes com kingcounty   After you change to straight line, you cannot change back to the declining balance method or to any other method for a period of 10 years without written permission from the IRS. Myfreetaxes com kingcounty Changes that require permission. Myfreetaxes com kingcounty   For most other changes in method of depreciation, you must get permission from the IRS. Myfreetaxes com kingcounty To request a change in method of depreciation, file Form 3115. Myfreetaxes com kingcounty File the application within the first 180 days of the tax year the change is to become effective. Myfreetaxes com kingcounty In most cases, there is a user fee that must accompany Form 3115. Myfreetaxes com kingcounty See the instructions for Form 3115 to determine if a fee is required. Myfreetaxes com kingcounty Changes granted automatically. Myfreetaxes com kingcounty   The IRS automatically approves certain changes of a method of depreciation. Myfreetaxes com kingcounty But, you must file Form 3115 for these automatic changes. Myfreetaxes com kingcounty   However, IRS can deny permission if Form 3115 is not filed on time. Myfreetaxes com kingcounty For more information on automatic changes, see Revenue Procedure 74-11, 1974-1 C. Myfreetaxes com kingcounty B. Myfreetaxes com kingcounty 420. Myfreetaxes com kingcounty Changes for which approval is not automatic. Myfreetaxes com kingcounty   The automatic change procedures do not apply to: Property or an account where you made a change in depreciation within the last 10 tax years (unless the change was made under the Class Life System), Class Life Asset Depreciation Range System, and Public utility property. Myfreetaxes com kingcounty   You must request and receive permission for these changes. Myfreetaxes com kingcounty To make the request, file Form 3115 during the first 180 days of the tax year for which you want the change to be effective. Myfreetaxes com kingcounty Change from an improper method. Myfreetaxes com kingcounty   If the IRS disallows the method you are using, you do not need permission to change to a proper method. Myfreetaxes com kingcounty You can adopt the straight line method, or any other method that would have been permitted if you had used it from the beginning. Myfreetaxes com kingcounty If you file your tax return using an improper method, but later file an amended return, you can use a proper method on the amended return without getting IRS permission. Myfreetaxes com kingcounty However, you must file the amended return before the filing date for the next tax year. Myfreetaxes com kingcounty Dispositions Retirement is the permanent withdrawal of depreciable property from use in your trade or business or for the production of income. Myfreetaxes com kingcounty You can do this by selling, exchanging, or abandoning the item of property. Myfreetaxes com kingcounty You can also withdraw it from use without disposing of it. Myfreetaxes com kingcounty For example, you could place it in a supplies or scrap account. Myfreetaxes com kingcounty Retirements can be either normal or abnormal depending on all facts and circumstances. Myfreetaxes com kingcounty The rules discussed next do not apply to MACRS and ACRS property. Myfreetaxes com kingcounty Normal retirement. Myfreetaxes com kingcounty   A normal retirement is a permanent withdrawal of depreciable property from use if the following apply: The retirement is made within the useful life you estimated originally, and The property has reached a condition at which you customarily retire or would retire similar property from use. Myfreetaxes com kingcounty A retirement is generally considered normal unless you can show that you retired the property because of a reason you did not consider when you originally estimated the useful life of the property. Myfreetaxes com kingcounty Abnormal retirement. Myfreetaxes com kingcounty   A retirement can be abnormal if you withdraw the property early or under other circumstances. Myfreetaxes com kingcounty For example, if the property is damaged by a fire or suddenly becomes obsolete and is now useless. Myfreetaxes com kingcounty Gain or loss on retirement. Myfreetaxes com kingcounty   There are special rules for figuring the gain or loss on retirement of property. Myfreetaxes com kingcounty The gain or loss will depend on several factors. Myfreetaxes com kingcounty These include the type of withdrawal, if the withdrawal was from a single property or multiple property account, and if the retirement was normal or abnormal. Myfreetaxes com kingcounty A single property account contains only one item of property. Myfreetaxes com kingcounty A multiple property account is one in which several items have been combined with a single rate of depreciation assigned to the entire account. Myfreetaxes com kingcounty Sale or exchange. Myfreetaxes com kingcounty   If property is retired by sale or exchange, you figure gain or loss by the usual rules that apply to sales or other dispositions of property. Myfreetaxes com kingcounty See Publication 544. Myfreetaxes com kingcounty Property not disposed of or abandoned. Myfreetaxes com kingcounty   If property is retired permanently, but not disposed of or physically abandoned, you do not recognize gain. Myfreetaxes com kingcounty You are allowed a loss in such a case, but only if the retirement is: An abnormal retirement, A normal retirement from a single property account in which you determined the life of each item of property separately, or A normal retirement from a multiple property account in which the depreciation rate is based on the maximum expected life of the longest lived item of property and the loss occurs before the expiration of the full useful life. Myfreetaxes com kingcounty However, you are not allowed a loss if the depreciation rate is based on the average useful life of the items of property in the account. Myfreetaxes com kingcounty   To figure your loss, subtract the estimated salvage or fair market value of the property at the date of retirement, whichever is more, from its adjusted basis. Myfreetaxes com kingcounty Special rule for normal retirements from item accounts. Myfreetaxes com kingcounty   You can generally deduct losses upon retirement of a few depreciable items of property with similar useful lives, if: You account for each one in a separate account, and You use the average useful life to figure depreciation. Myfreetaxes com kingcounty However, you cannot deduct losses if you use the average useful life to figure depreciation and they have a wide range of useful lives. Myfreetaxes com kingcounty   If you have a large number of depreciable property items and use average useful lives to figure depreciation, you cannot deduct the losses upon normal retirements from these accounts. Myfreetaxes com kingcounty Abandoned property. Myfreetaxes com kingcounty   If you physically abandon property, you can deduct as a loss the adjusted basis of the property at the time of its abandonment. Myfreetaxes com kingcounty However, your intent must be to discard the property so that you will not use it again or retrieve it for sale, exchange, or other disposition. Myfreetaxes com kingcounty Basis of property retired. Myfreetaxes com kingcounty   The basis for figuring gain or loss on the retirement of property is its adjusted basis at the time of retirement, as determined in the following discussions. Myfreetaxes com kingcounty Single item accounts. Myfreetaxes com kingcounty   If an item of property is accounted for in a single item account, the adjusted basis is the basis you would use to figure gain or loss for a sale or exchange of the property. Myfreetaxes com kingcounty This is generally the cost or other basis of the item of property less depreciation. Myfreetaxes com kingcounty See Publication 551. Myfreetaxes com kingcounty Multiple property account. Myfreetaxes com kingcounty   For a normal retirement from a multiple property account, if you figured depreciation using the average expected useful life, the adjusted basis is the salvage value estimated for the item of property when it was originally acquired. Myfreetaxes com kingcounty If you figured depreciation using the maximum expected useful life of the longest lived item of property in the account, you must use the depreciation method used for the multiple property account and a rate based on the maximum expected useful life of the item of property retired. Myfreetaxes com kingcounty   You make the adjustment for depreciation for an abnormal retirement from a multiple property account at the rate that would be proper if the item of property was depreciated in a single property account. Myfreetaxes com kingcounty The method of depreciation used for the multiple property account is used. Myfreetaxes com kingcounty You base the rate on either the average expected useful life or the maximum expected useful life of the retired item of property, depending on the method used to determine the depreciation rate for the multiple property account. Myfreetaxes com kingcounty Prev  Up  Next   Home   More Online Publications