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Taxes For Students

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Taxes For Students

Taxes for students 4. Taxes for students   Special Situations Table of Contents Condominiums CooperativesDepreciation Property Changed to Rental UseBasis of Property Changed to Rental Use Figuring the Depreciation Deduction Renting Part of Property Not Rented for ProfitPostponing decision. Taxes for students Example—Property Changed to Rental Use This chapter discusses some rental real estate activities that are subject to additional rules. Taxes for students Condominiums A condominium is most often a dwelling unit in a multi-unit building, but can also take other forms, such as a townhouse or garden apartment. Taxes for students If you own a condominium, you also own a share of the common elements, such as land, lobbies, elevators, and service areas. Taxes for students You and the other condominium owners may pay dues or assessments to a special corporation that is organized to take care of the common elements. Taxes for students Special rules apply if you rent your condominium to others. Taxes for students You can deduct as rental expenses all the expenses discussed in chapters 1 and 2. Taxes for students In addition, you can deduct any dues or assessments paid for maintenance of the common elements. Taxes for students You cannot deduct special assessments you pay to a condominium management corporation for improvements. Taxes for students However, you may be able to recover your share of the cost of any improvement by taking depreciation. Taxes for students Cooperatives If you live in a cooperative, you do not own your apartment. Taxes for students Instead, a corporation owns the apartments and you are a tenant-stockholder in the cooperative housing corporation. Taxes for students If you rent your apartment to others, you usually can deduct, as a rental expense, all the maintenance fees you pay to the cooperative housing corporation. Taxes for students In addition to the maintenance fees paid to the cooperative housing corporation, you can deduct your direct payments for repairs, upkeep, and other rental expenses, including interest paid on a loan used to buy your stock in the corporation. Taxes for students Depreciation You will be depreciating your stock in the corporation rather than the apartment itself. Taxes for students Figure your depreciation deduction as follows. Taxes for students Figure the depreciation for all the depreciable real property owned by the corporation. Taxes for students (Depreciation methods are discussed in chapter 2 of this publication and Publication 946. Taxes for students ) If you bought your cooperative stock after its first offering, figure the depreciable basis of this property as follows. Taxes for students Multiply your cost per share by the total number of outstanding shares. Taxes for students Add to the amount figured in (a) any mortgage debt on the property on the date you bought the stock. Taxes for students Subtract from the amount figured in (b) any mortgage debt that is not for the depreciable real property, such as the part for the land. Taxes for students Subtract from the amount figured in (1) any depreciation for space owned by the corporation that can be rented but cannot be lived in by tenant-stockholders. Taxes for students Divide the number of your shares of stock by the total number of shares outstanding, including any shares held by the corporation. Taxes for students Multiply the result of (2) by the percentage you figured in (3). Taxes for students This is your depreciation on the stock. Taxes for students Your depreciation deduction for the year cannot be more than the part of your adjusted basis (defined in chapter 2) in the stock of the corporation that is allocable to your rental property. Taxes for students Payments added to capital account. Taxes for students   Payments earmarked for a capital asset or improvement, or otherwise charged to the corporation's capital account are added to the basis of your stock in the corporation. Taxes for students For example, you cannot deduct a payment used to pave a community parking lot, install a new roof, or pay the principal of the corporation's mortgage. Taxes for students   Treat as a capital cost the amount you were assessed for capital items. Taxes for students This cannot be more than the amount by which your payments to the corporation exceeded your share of the corporation's mortgage interest and real estate taxes. Taxes for students   Your share of interest and taxes is the amount the corporation elected to allocate to you, if it reasonably reflects those expenses for your apartment. Taxes for students Otherwise, figure your share in the following manner. Taxes for students Divide the number of your shares of stock by the total number of shares outstanding, including any shares held by the corporation. Taxes for students Multiply the corporation's deductible interest by the number you figured in (1). Taxes for students This is your share of the interest. Taxes for students Multiply the corporation's deductible taxes by the number you figured in (1). Taxes for students This is your share of the taxes. Taxes for students Property Changed to Rental Use If you change your home or other property (or a part of it) to rental use at any time other than the beginning of your tax year, you must divide yearly expenses, such as taxes and insurance, between rental use and personal use. Taxes for students You can deduct as rental expenses only the part of the expense that is for the part of the year the property was used or held for rental purposes. Taxes for students You cannot deduct depreciation or insurance for the part of the year the property was held for personal use. Taxes for students However, you can include the home mortgage interest, qualified mortgage insurance premiums, and real estate tax expenses for the part of the year the property was held for personal use as an itemized deduction on Schedule A (Form 1040). Taxes for students Example. Taxes for students Your tax year is the calendar year. Taxes for students You moved from your home in May and started renting it out on June 1. Taxes for students You can deduct as rental expenses seven-twelfths of your yearly expenses, such as taxes and insurance. Taxes for students Starting with June, you can deduct as rental expenses the amounts you pay for items generally billed monthly, such as utilities. Taxes for students When figuring depreciation, treat the property as placed in service on June 1. Taxes for students Basis of Property Changed to Rental Use When you change property you held for personal use to rental use (for example, you rent your former home), the basis for depreciation will be the lesser of fair market value or adjusted basis on the date of conversion. Taxes for students Fair market value. Taxes for students   This is the price at which the property would change hands between a willing buyer and a willing seller, neither having to buy or sell, and both having reasonable knowledge of all the relevant facts. Taxes for students Sales of similar property, on or about the same date, may be helpful in figuring the fair market value of the property. Taxes for students Figuring the basis. Taxes for students   The basis for depreciation is the lesser of: The fair market value of the property on the date you changed it to rental use, or Your adjusted basis on the date of the change—that is, your original cost or other basis of the property, plus the cost of permanent additions or improvements since you acquired it, minus deductions for any casualty or theft losses claimed on earlier years' income tax returns and other decreases to basis. Taxes for students For other increases and decreases to basis, see Adjusted Basis in chapter 2. Taxes for students Example. Taxes for students Several years ago you built your home for $140,000 on a lot that cost you $14,000. Taxes for students Before changing the property to rental use this year, you added $28,000 of permanent improvements to the house and claimed a $3,500 casualty loss deduction for damage to the house. Taxes for students Part of the improvements qualified for a $500 residential energy credit, which you claimed on your 2010 tax return. Taxes for students Because land is not depreciable, you can only include the cost of the house when figuring the basis for depreciation. Taxes for students The adjusted basis of the house at the time of the change in its use was $164,000 ($140,000 + $28,000 − $3,500 − $500). Taxes for students On the date of the change in use, your property had a fair market value of $168,000, of which $21,000 was for the land and $147,000 was for the house. Taxes for students The basis for depreciation on the house is the fair market value on the date of the change ($147,000), because it is less than your adjusted basis ($164,000). Taxes for students Cooperatives If you change your cooperative apartment to rental use, figure your allowable depreciation as explained earlier. Taxes for students (Depreciation methods are discussed in chapter 2 of this publication and Publication 946. Taxes for students ) The basis of all the depreciable real property owned by the cooperative housing corporation is the smaller of the following amounts. Taxes for students The fair market value of the property on the date you change your apartment to rental use. Taxes for students This is considered to be the same as the corporation's adjusted basis minus straight line depreciation, unless this value is unrealistic. Taxes for students The corporation's adjusted basis in the property on that date. Taxes for students Do not subtract depreciation when figuring the corporation's adjusted basis. Taxes for students If you bought the stock after its first offering, the corporation's adjusted basis in the property is the amount figured in (1) under Depreciation (under Cooperatives, near the beginning of this chapter). Taxes for students The fair market value of the property is considered to be the same as the corporation's adjusted basis figured in this way minus straight line depreciation, unless the value is unrealistic. Taxes for students Figuring the Depreciation Deduction To figure the deduction, use the depreciation system in effect when you convert your residence to rental use. Taxes for students Generally, that will be MACRS for any conversion after 1986. Taxes for students Treat the property as placed in service on the conversion date. Taxes for students Example. Taxes for students Your converted residence (see previous example under Figuring the basis) was available for rent on August 1. Taxes for students Using Table 2-2d (see chapter 2), the percentage for Year 1 beginning in August is 1. Taxes for students 364% and the depreciation deduction for Year 1 is $2,005 ($147,000 × . Taxes for students 01364). Taxes for students Renting Part of Property If you rent part of your property, you must divide certain expenses between the part of the property used for rental purposes and the part of the property used for personal purposes, as though you actually had two separate pieces of property. Taxes for students You can deduct the expenses related to the part of the property used for rental purposes, such as home mortgage interest, qualified mortgage insurance premiums, and real estate taxes, as rental expenses on Schedule E (Form 1040). Taxes for students You can also deduct as rental expenses a portion of other expenses that normally are nondeductible personal expenses, such as expenses for electricity, or painting the outside of the house. Taxes for students There is no change in the types of expenses deductible for the personal-use part of your property. Taxes for students Generally, these expenses may be deducted only if you itemize your deductions on Schedule A (Form 1040). Taxes for students You cannot deduct any part of the cost of the first phone line even if your tenants have unlimited use of it. Taxes for students You do not have to divide the expenses that belong only to the rental part of your property. Taxes for students For example, if you paint a room that you rent, or if you pay premiums for liability insurance in connection with renting a room in your home, your entire cost is a rental expense. Taxes for students If you install a second phone line strictly for your tenant's use, all of the cost of the second line is deductible as a rental expense. Taxes for students You can deduct depreciation on the part of the house used for rental purposes as well as on the furniture and equipment you use for rental purposes. Taxes for students How to divide expenses. Taxes for students   If an expense is for both rental use and personal use, such as mortgage interest or heat for the entire house, you must divide the expense between rental use and personal use. Taxes for students You can use any reasonable method for dividing the expense. Taxes for students It may be reasonable to divide the cost of some items (for example, water) based on the number of people using them. Taxes for students The two most common methods for dividing an expense are (1) the number of rooms in your home, and (2) the square footage of your home. Taxes for students Example. Taxes for students You rent a room in your house. Taxes for students The room is 12 × 15 feet, or 180 square feet. Taxes for students Your entire house has 1,800 square feet of floor space. Taxes for students You can deduct as a rental expense 10% of any expense that must be divided between rental use and personal use. Taxes for students If your heating bill for the year for the entire house was $600, $60 ($600 × . Taxes for students 10) is a rental expense. Taxes for students The balance, $540, is a personal expense that you cannot deduct. Taxes for students Duplex. Taxes for students   A common situation is the duplex where you live in one unit and rent out the other. Taxes for students Certain expenses apply to the entire property, such as mortgage interest and real estate taxes, and must be split to determine rental and personal expenses. Taxes for students Example. Taxes for students You own a duplex and live in one half, renting the other half. Taxes for students Both units are approximately the same size. Taxes for students Last year, you paid a total of $10,000 mortgage interest and $2,000 real estate taxes for the entire property. Taxes for students You can deduct $5,000 mortgage interest and $1,000 real estate taxes on Schedule E (Form 1040), and if you itemize your deductions, you can deduct the other $5,000 mortgage interest and $1,000 real estate taxes on Schedule A (Form 1040). Taxes for students Not Rented for Profit If you do not rent your property to make a profit, you can deduct your rental expenses only up to the amount of your rental income. Taxes for students You cannot deduct a loss or carry forward to the next year any rental expenses that are more than your rental income for the year. Taxes for students Where to report. Taxes for students   Report your not-for-profit rental income on Form 1040 or 1040NR, line 21. Taxes for students For example, if you are filing Form 1040, you can include your mortgage interest and any qualified mortgage insurance premiums (if you use the property as your main home or second home), real estate taxes, and casualty losses on the appropriate lines of Schedule A (Form 1040) if you itemize your deductions. Taxes for students   If you itemize your deductions, claim your other rental expenses, subject to the rules explained in chapter 1 of Publication 535, as miscellaneous itemized deductions on Schedule A (Form 1040), line 23, or Schedule A (Form 1040NR), line 9. Taxes for students You can deduct these expenses only if they, together with certain other miscellaneous itemized deductions, total more than 2% of your adjusted gross income. Taxes for students Presumption of profit. Taxes for students   If your rental income is more than your rental expenses for at least 3 years out of a period of 5 consecutive years, you are presumed to be renting your property to make a profit. Taxes for students Postponing decision. Taxes for students   If you are starting your rental activity and do not have 3 years showing a profit, you can elect to have the presumption made after you have the 5 years of experience required by the test. Taxes for students You may choose to postpone the decision of whether the rental is for profit by filing Form 5213. Taxes for students You must file Form 5213 within 3 years after the due date of your return (determined without extensions) for the year in which you first carried on the activity or, if earlier, within 60 days after receiving written notice from the Internal Revenue Service proposing to disallow deductions attributable to the activity. Taxes for students More information. Taxes for students   For more information about the rules for an activity not engaged in for profit, see Not-for-Profit Activities in chapter 1 of Publication 535. Taxes for students Example—Property Changed to Rental Use In January, Eileen Johnson bought a condominium apartment to live in. Taxes for students Instead of selling the house she had been living in, she decided to change it to rental property. Taxes for students Eileen selected a tenant and started renting the house on February 1. Taxes for students Eileen charges $750 a month for rent and collects it herself. Taxes for students Eileen also received a $750 security deposit from her tenant. Taxes for students Because she plans to return it to her tenant at the end of the lease, she does not include it in her income. Taxes for students Her rental expenses for the year are as follows. Taxes for students   Mortgage interest $1,800     Fire insurance (1-year policy) 100     Miscellaneous repairs (after renting) 297     Real estate taxes imposed and paid 1,200   Eileen must divide the real estate taxes, mortgage interest, and fire insurance between the personal use of the property and the rental use of the property. Taxes for students She can deduct eleven-twelfths of these expenses as rental expenses. Taxes for students She can include the balance of the allowable taxes and mortgage interest on Schedule A (Form 1040) if she itemizes. Taxes for students She cannot deduct the balance of the fire insurance because it is a personal expense. Taxes for students Eileen bought this house in 1984 for $35,000. Taxes for students Her property tax was based on assessed values of $10,000 for the land and $25,000 for the house. Taxes for students Before changing it to rental property, Eileen added several improvements to the house. Taxes for students She figures her adjusted basis as follows:   Improvements Cost     House $25,000     Remodeled kitchen 4,200     Recreation room 5,800     New roof 1,600     Patio and deck 2,400     Adjusted basis $39,000   On February 1, when Eileen changed her house to rental property, the property had a fair market value of $152,000. Taxes for students Of this amount, $35,000 was for the land and $117,000 was for the house. Taxes for students Because Eileen's adjusted basis is less than the fair market value on the date of the change, Eileen uses $39,000 as her basis for depreciation. Taxes for students As specified for residential rental property, Eileen must use the straight line method of depreciation over the GDS or ADS recovery period. Taxes for students She chooses the GDS recovery period of 27. Taxes for students 5 years. Taxes for students She uses Table 2-2d to find her depreciation percentage. Taxes for students Since she placed the property in service in February, the percentage is 3. Taxes for students 182%. Taxes for students On April 1, Eileen bought a new dishwasher for the rental property at a cost of $425. Taxes for students The dishwasher is personal property used in a rental real estate activity, which has a 5-year recovery period. Taxes for students She uses Table 2-2a to find the percentage for Year 1 under “Half-year convention” (20%) to figure her depreciation deduction. Taxes for students On May 1, Eileen paid $4,000 to have a furnace installed in the house. Taxes for students The furnace is residential rental property. Taxes for students Because she placed the property in service in May, the percentage from Table 2-2d is 2. Taxes for students 273%. Taxes for students Eileen figures her net rental income or loss for the house as follows: Total rental income received  ($750 × 11) $8,250 Minus: Expenses     Mortgage interest ($1,800 × 11/12) $1,650   Fire insurance ($100 × 11/12) 92   Miscellaneous repairs 297   Real estate taxes ($1,200 × 11/12) 1,100   Total expenses 3,139 Balance $5,111 Minus: Depreciation     House ($39,000 × . Taxes for students 03182) $1,241   Dishwasher ($425 × . Taxes for students 20) 85   Furnace ($4,000 × . Taxes for students 02273) 91   Total depreciation 1,417 Net rental income for house   $3,694       Eileen uses Schedule E, Part I, to report her rental income and expenses. Taxes for students She enters her income, expenses, and depreciation for the house in the column for Property A. Taxes for students Since all property was placed in service this year, Eileen must use Form 4562 to figure the depreciation. Taxes for students See the Instructions for Form 4562 for more information on preparing the form. Taxes for students Prev  Up  Next   Home   More Online Publications
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The Taxes For Students

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