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Turbotax state efile coupon 3. Turbotax state efile coupon   Claiming the Special Depreciation Allowance Table of Contents Introduction What Is Qualified Property?Qualified Reuse and Recycling Property Qualified Cellulosic Biofuel Plant Property Qualified Disaster Assistance Property Certain Qualified Property Acquired After December 31, 2007 Election to Accelerate Certain Credits in Lieu of the Special Depreciation Allowance How Much Can You Deduct? How Can You Elect Not To Claim an Allowance? When Must You Recapture an Allowance? Introduction You can take a special depreciation allowance to recover part of the cost of qualified property (defined next), placed in service during the tax year. Turbotax state efile coupon The allowance applies only for the first year you place the property in service. Turbotax state efile coupon For qualified property placed in service in 2013, you can take an additional 50% special allowance. Turbotax state efile coupon The allowance is an additional deduction you can take after any section 179 deduction and before you figure regular depreciation under MACRS for the year you place the property in service. Turbotax state efile coupon This chapter explains what is qualified property. Turbotax state efile coupon It also includes rules regarding how to figure an allowance, how to elect not to claim an allowance, and when you must recapture an allowance. Turbotax state efile coupon Corporations can elect to accelerate certain minimum tax credits in lieu of claiming the special depreciation allowance for eligible qualified property. Turbotax state efile coupon See Election to Accelerate Certain Credits in Lieu of the Special Depreciation Allowance , later. Turbotax state efile coupon See chapter 6 for information about getting publications and forms. Turbotax state efile coupon What Is Qualified Property? Your property is qualified property if it is one of the following. Turbotax state efile coupon Qualified reuse and recycling property. Turbotax state efile coupon Qualified cellulosic biofuel plant property. Turbotax state efile coupon Qualified disaster assistance property. Turbotax state efile coupon Certain qualified property acquired after December 31, 2007. Turbotax state efile coupon The following discussions provide information about the types of qualified property listed above for which you can take the special depreciation allowance. Turbotax state efile coupon Qualified Reuse and Recycling Property You can take a 50% special depreciation allowance for qualified reuse and recycling property. Turbotax state efile coupon Qualified reuse and recycling property is any machinery or equipment (not including buildings or real estate), along with any appurtenance, that is used exclusively to collect, distribute, or recycle qualified reuse and recyclable materials (as defined in section 168(m)(3)(B) of the Internal Revenue Code). Turbotax state efile coupon Qualified reuse and recycling property also includes software necessary to operate such equipment. Turbotax state efile coupon The property must meet the following requirements. Turbotax state efile coupon The property must be depreciated under MACRS. Turbotax state efile coupon The property must have a useful life of at least 5 years. Turbotax state efile coupon The original use of the property must begin with you after August 31, 2008. Turbotax state efile coupon You must have acquired the property by purchase (as discussed under Property Acquired by Purchase in chapter 2 ) after August 31, 2008, with no binding written contract for the acquisition in effect before September 1, 2008. Turbotax state efile coupon The property must be placed in service for use in your trade or business after August 31, 2008. Turbotax state efile coupon Excepted Property Qualified reuse and recycling property does not include any of the following. Turbotax state efile coupon Any rolling stock or other equipment used to transport reuse or recyclable materials. Turbotax state efile coupon Property required to be depreciated using the Alternative Depreciation System (ADS). Turbotax state efile coupon For other property required to be depreciated using ADS, see Required use of ADS under Which Depreciation System (GDS or ADS) Applies , in chapter 4 . Turbotax state efile coupon Other bonus depreciation property to which section 168(k) of the Internal Revenue Code applies. Turbotax state efile coupon Property for which you elected not to claim any special depreciation allowance (discussed later). Turbotax state efile coupon Property placed in service and disposed of in the same tax year. Turbotax state efile coupon Property converted from business use to personal use in the same tax year acquired. Turbotax state efile coupon Property converted from personal use to business use in the same or later tax year may be qualified reuse and recycling property. Turbotax state efile coupon Qualified Cellulosic Biofuel Plant Property You can take a 50% special depreciation allowance for qualified cellulosic biofuel plant property. Turbotax state efile coupon Cellulosic biofuel is any liquid fuel which is produced from any lignocellulosic or hemicellulosic matter that is available on a renewable or recurring basis. Turbotax state efile coupon Examples include bagasse (from sugar cane), corn stalks, and switchgrass. Turbotax state efile coupon The property must meet the following requirements. Turbotax state efile coupon The property is used in the United States solely to produce cellulosic biofuel. Turbotax state efile coupon The original use of the property must begin with you after December 20, 2006. Turbotax state efile coupon You must have acquired the property by purchase (as discussed under Property Acquired by Purchase in chapter 2 ) after December 20, 2006, with no binding written contract for acquisition in effect before December 21, 2006. Turbotax state efile coupon The property must be placed in service for use in your trade or business or for the production of income after October 3, 2008, and before January 3, 2013. Turbotax state efile coupon Note. Turbotax state efile coupon For property placed in service after January 2, 2013, and before January 1, 2014, you can take a 50% special depreciation allowance for qualified second generation biofuel plant property that is used solely in the United States to produce second generation biofuel (as defined in section 40(b)(6)(E)). Turbotax state efile coupon The other requirements for qualified second generation biofuel plant property to be eligible for the special depreciation allowance are identical to the requirements discussed for Qualified Cellulosic Biofuel Plant Property above. Turbotax state efile coupon Special Rules Sale-leaseback. Turbotax state efile coupon   If you sold qualified cellulosic biofuel plant property you placed in service after October 3, 2008, and leased it back within 3 months after you originally placed it in service, the property is treated as originally placed in service no earlier than the date it is used by you under the leaseback. Turbotax state efile coupon   The property will not qualify for the special allowance if the lessee or a related person to the lessee or lessor had a written binding contract in effect for the acquisition of the property before December 21, 2006. Turbotax state efile coupon Syndicated leasing transactions. Turbotax state efile coupon   If qualified cellulosic biofuel plant property is originally placed in service by a lessor after October 3, 2008, the property is sold within 3 months of the date it was placed in service, and the user of the property does not change, then the property is treated as originally placed in service by the taxpayer no earlier than the date of the last sale. Turbotax state efile coupon   Multiple units of property subject to the same lease will be treated as originally placed in service no earlier than the date of sale if the property is sold within 3 months after the final unit is placed in service and the period between the times the first and last units are placed in service does not exceed 12 months. Turbotax state efile coupon Excepted Property Qualified cellulosic biofuel plant property does not include any of the following. Turbotax state efile coupon Property placed in service and disposed of in the same tax year. Turbotax state efile coupon Property converted from business use to personal use in the same tax year it is acquired. Turbotax state efile coupon Property converted from personal use to business use in the same or later tax year may be qualified cellulosic biomass ethanol plant property. Turbotax state efile coupon Property required to be depreciated using the Alternative Depreciation System (ADS). Turbotax state efile coupon For other property required to be depreciated using ADS, see Required use of ADS under Which Depreciation System (GDS or ADS) Applies , in chapter 4 . Turbotax state efile coupon Property any portion of which is financed with the proceeds of any obligation the interest on which is exempt from tax under section 103 of the Internal Revenue Code. Turbotax state efile coupon Property for which you elected not to claim any special depreciation allowance (discussed later). Turbotax state efile coupon Property for which a deduction was taken under section 179C for certain qualified refinery property. Turbotax state efile coupon Other bonus depreciation property to which section 168(k) of the Internal Revenue Code applies. Turbotax state efile coupon Qualified Disaster Assistance Property You can take a 50% special depreciation allowance for qualified disaster assistance property placed in service in federally declared disaster areas in which the disaster occurred in 2009. Turbotax state efile coupon A list of the federally declared disaster areas is available at the FEMA website at www. Turbotax state efile coupon fema. Turbotax state efile coupon gov. Turbotax state efile coupon Your property is qualified disaster assistance property if it meets the following requirements. Turbotax state efile coupon The property is nonresidential real property or residential real property placed in service before January 1, 2014, in a federally declared disaster area in which the disaster occurred in 2009. Turbotax state efile coupon You must have acquired the property by purchase (as discussed under Property Acquired by Purchase in chapter 2 ) on or after the applicable disaster date, with no binding written contract for the acquisition in effect before the applicable disaster date. Turbotax state efile coupon The property must rehabilitate property damaged, or replace property destroyed or condemned, as a result of the applicable federally declared disaster. Turbotax state efile coupon The property must be similar in nature to, and located in the same county as, the rehabilitated or replaced property. Turbotax state efile coupon The original use of the property within the applicable disaster area must have begun with you on or after the applicable disaster date. Turbotax state efile coupon The property is placed in service by you on or before the date which is the last day of the fourth calendar year. Turbotax state efile coupon Substantially all (80% or more) of the use of the property must be in the active conduct of your trade or business in a federally declared disaster area, occurring in 2009. Turbotax state efile coupon It is not excepted property (explained later in Excepted Property ). Turbotax state efile coupon Special Rules Sale-leaseback. Turbotax state efile coupon   If you sold qualified disaster assistance property you placed in service after the applicable disaster date and leased it back within 3 months after you originally placed it in service, the property is treated as originally placed in service no earlier than the date it is used by you under the leaseback. Turbotax state efile coupon   The property will not qualify for the special allowance if the lessee or a related person to the lessee or lessor had a written binding contract in effect for the acquisition of the property before the applicable disaster date. Turbotax state efile coupon Syndicated leasing transactions. Turbotax state efile coupon   If qualified disaster assistance property is originally placed in service by a lessor after the applicable disaster date, the property is sold within 3 months of the date it was placed in service, and the user of the property does not change, then the property is treated as originally placed in service by the taxpayer no earlier than the date of the last sale. Turbotax state efile coupon   Multiple units of property subject to the same lease will be treated as originally placed in service no earlier than the date of sale if the property is sold within 3 months after the final unit is placed in service and the period between the times the first and last units are placed in service does not exceed 12 months. Turbotax state efile coupon Excepted Property Qualified disaster assistance property does not include any of the following. Turbotax state efile coupon Property required to be depreciated using the Alternative Depreciation System (ADS). Turbotax state efile coupon For other property required to be depreciated using ADS, see Required use of ADS under Which Depreciation System (GDS or ADS) Applies , in chapter 4 . Turbotax state efile coupon Property any portion of which is financed with the proceeds of a tax-exempt obligation under section 103 of the Internal Revenue Code. Turbotax state efile coupon Any qualified revitalization building (defined later) placed in service before January 1, 2010, for which you have elected to claim a commercial revitalization deduction for qualified revitalization expenditures. Turbotax state efile coupon Any property used in connection with any private or commercial golf course, country club, massage parlor, hot tub facility, suntan facility, or any store, the principal business of which is the sale of alcoholic beverages for consumption off premises. Turbotax state efile coupon Any property for which the special allowance under section 168(k) or section 1400N(d) of the Internal Revenue Code applies. Turbotax state efile coupon Property for which you elected not to claim any special depreciation allowance (discussed later). Turbotax state efile coupon Property placed in service and disposed of in the same tax year. Turbotax state efile coupon Property converted from business use to personal use in the same tax year acquired. Turbotax state efile coupon Property converted from personal use to business use in the same or later tax year may be qualified disaster assistance property. Turbotax state efile coupon Any gambling or animal racing property (defined later). Turbotax state efile coupon Qualified revitalization building. Turbotax state efile coupon   This is a commercial building and its structural components that you placed in service in a renewal community before January 1, 2010. Turbotax state efile coupon If the building is new, the original use of the building must begin with you. Turbotax state efile coupon If the building is not new, you must substantially rehabilitate the building and then place it in service. Turbotax state efile coupon For more information, including definitions of substantially rehabilitated building and qualified revitalization expenditure, see section 1400I(b) of the Internal Revenue Code. Turbotax state efile coupon Gambling or animal racing property. Turbotax state efile coupon   Gambling or animal racing property includes the following personal and real property. Turbotax state efile coupon Any equipment, furniture, software, or other property used directly in connection with gambling, the racing of animals, or the on-site viewing of such racing. Turbotax state efile coupon Any real property determined by square footage (other than any portion that is less than 100 square feet) that is dedicated to gambling, the racing of animals, or the on-site viewing of such racing. Turbotax state efile coupon Certain Qualified Property Acquired After December 31, 2007 You can take a 50% special depreciation deduction allowance for certain qualified property acquired after December 31, 2007. Turbotax state efile coupon Your property is qualified property if it meets the following requirements. Turbotax state efile coupon It is one of the following types of property. Turbotax state efile coupon Tangible property depreciated under MACRS with a recovery period of 20 years or less. Turbotax state efile coupon Water utility property. Turbotax state efile coupon Computer software that is readily available for purchase by the general public, is subject to a nonexclusive license, and has not been substantially modified. Turbotax state efile coupon (The cost of some computer software is treated as part of the cost of hardware and is depreciated under MACRS. Turbotax state efile coupon ) Qualified leasehold improvement property (defined under Qualified leasehold improvement property later). Turbotax state efile coupon You must have acquired the property after December 31, 2007, with no binding written contract for the acquisition in effect before January 1, 2008. Turbotax state efile coupon The property must be placed in service for use in your trade or business or for the production of income before January 1, 2014 (before January 1, 2015, for certain property with a long production period and certain aircraft (defined next)). Turbotax state efile coupon The original use of the property must begin with you after December 31, 2007. Turbotax state efile coupon It is not excepted property (explained later in Excepted property). Turbotax state efile coupon Qualified leasehold improvement property. Turbotax state efile coupon    Generally, this is any improvement to an interior part of a building that is nonresidential real property, if all the following requirements are met. Turbotax state efile coupon The improvement is made under or according to a lease by the lessee (or any sublessee) or the lessor of that part of the building. Turbotax state efile coupon That part of the building is to be occupied exclusively by the lessee (or any sublessee) of that part. Turbotax state efile coupon The improvement is placed in service more than 3 years after the date the building was first placed in service by any person. Turbotax state efile coupon The improvement is section 1250 property. Turbotax state efile coupon See chapter 3 in Publication 544, Sales and Other Dispositions of Assets, for the definition of section 1250 property. Turbotax state efile coupon   However, a qualified leasehold improvement does not include any improvement for which the expenditure is attributable to any of the following. Turbotax state efile coupon The enlargement of the building. Turbotax state efile coupon Any elevator or escalator. Turbotax state efile coupon Any structural component benefiting a common area. Turbotax state efile coupon The internal structural framework of the building. Turbotax state efile coupon   Generally, a binding commitment to enter into a lease is treated as a lease and the parties to the commitment are treated as the lessor and lessee. Turbotax state efile coupon However, a lease between related persons is not treated as a lease. Turbotax state efile coupon Related persons. Turbotax state efile coupon   For this purpose, the following are related persons. Turbotax state efile coupon Members of an affiliated group. Turbotax state efile coupon An individual and a member of his or her family, including only a spouse, child, parent, brother, sister, half-brother, half-sister, ancestor, and lineal descendant. Turbotax state efile coupon A corporation and an individual who directly or indirectly owns 80% or more of the value of the outstanding stock of that corporation. Turbotax state efile coupon Two corporations that are members of the same controlled group. Turbotax state efile coupon A trust fiduciary and a corporation if 80% or more of the value of the outstanding stock is directly or indirectly owned by or for the trust or grantor of the trust. Turbotax state efile coupon The grantor and fiduciary, and the fiduciary and beneficiary, of any trust. Turbotax state efile coupon The fiduciaries of two different trusts, and the fiduciaries and beneficiaries of two different trusts, if the same person is the grantor of both trusts. Turbotax state efile coupon A tax-exempt educational or charitable organization and any person (or, if that person is an individual, a member of that person's family) who directly or indirectly controls the organization. Turbotax state efile coupon Two S corporations, and an S corporation and a regular corporation, if the same persons own 80% or more of the value of the outstanding stock of each corporation. Turbotax state efile coupon A corporation and a partnership if the same persons own both of the following. Turbotax state efile coupon 80% or more of the value of the outstanding stock of the corporation. Turbotax state efile coupon 80% or more of the capital or profits interest in the partnership. Turbotax state efile coupon The executor and beneficiary of any estate. Turbotax state efile coupon Long Production Period Property To be qualified property, long production period property must meet the following requirements. Turbotax state efile coupon It must meet the requirements in (2)-(5), above. Turbotax state efile coupon The property has a recovery period of at least 10 years or is transportation property. Turbotax state efile coupon Transportation property is tangible personal property used in the trade or business of transporting persons or property. Turbotax state efile coupon The property is subject to section 263A of the Internal Revenue Code. Turbotax state efile coupon The property has an estimated production period exceeding 1 year and an estimated production cost exceeding $1,000,000. Turbotax state efile coupon Noncommercial Aircraft To be qualified property, noncommercial aircraft must meet the following requirements. Turbotax state efile coupon It must meet the requirements in (2)-(5), above. Turbotax state efile coupon The aircraft must not be tangible personal property used in the trade or business of transporting persons or property (except for agricultural or firefighting purposes). Turbotax state efile coupon The aircraft must be purchased (as discussed under Property Acquired by Purchase in chapter 2 ) by a purchaser who at the time of the contract for purchase, makes a nonrefundable deposit of the lesser of 10% of the cost or $100,000. Turbotax state efile coupon The aircraft must have an estimated production period exceeding four months and a cost exceeding $200,000. Turbotax state efile coupon Special Rules Sale-leaseback. Turbotax state efile coupon   If you sold qualified property you placed in service after December 31, 2007, and leased it back within 3 months after you originally placed in service, the property is treated as originally placed in service no earlier than the date it is used by you under the leaseback. Turbotax state efile coupon   The property will not qualify for the special depreciation allowance if the lessee or a related person to the lessee or lessor had a written binding contract in effect for the acquisition of the property before January 1, 2008. Turbotax state efile coupon Syndicated leasing transactions. Turbotax state efile coupon   If qualified property is originally placed in service by a lessor after December 31, 2007, the property is sold within 3 months of the date it was placed in service, and the user of the property does not change, then the property is treated as originally placed in service by the taxpayer no earlier than the date of the last sale. Turbotax state efile coupon   Multiple units of property subject to the same lease will be treated as originally placed in service no earlier than the date of the last sale if the property is sold within 3 months after the final unit is placed in service and the period between the time the first and last units are placed in service does not exceed 12 months. Turbotax state efile coupon Excepted Property Qualified property does not include any of the following. Turbotax state efile coupon Property placed in service and disposed of in the same tax year. Turbotax state efile coupon Property converted from business use to personal use in the same tax year acquired. Turbotax state efile coupon Property converted from personal use to business use in the same or later tax year may be qualified property. Turbotax state efile coupon Property required to be depreciated under the Alternative Depreciation System (ADS). Turbotax state efile coupon This includes listed property used 50% or less in a qualified business use. Turbotax state efile coupon For other property required to be depreciated using ADS, see Required use of ADS under Which Depreciation System (GDS or ADS) Applies , in chapter 4 . Turbotax state efile coupon Qualified restaurant property (as defined in section 168(e)(7) of the Internal Revenue Code). Turbotax state efile coupon Qualified retail improvement property (as defined in section 168(e)(8) of the Internal Revenue Code). Turbotax state efile coupon Property for which you elected not to claim any special depreciation allowance (discussed later). Turbotax state efile coupon Property for which you elected to accelerate certain credits in lieu of the special depreciation allowance (discussed next). Turbotax state efile coupon Election to Accelerate Certain Credits in Lieu of the Special Depreciation Allowance An election made by a corporation to claim pre-2006 unused minimum tax credits in lieu of claiming the special depreciation allowance for either its first tax year ending after March 31, 2008, its first tax year ending after December 31, 2008, or its first tax year ending after December 31, 2010, continues to apply to round 2 extension property (as defined in section 168(k)(4)(I)(iv)), unless the corporation made an election not to apply the section 168(k)(4) election to round 2 extension property for its first tax year ending after December 31, 2010. Turbotax state efile coupon For 2013, round 2 extension property generally is long production period and noncommercial aircraft if acquired after March 31, 2008, and placed in service after December 31, 2012, but before January 1, 2014. Turbotax state efile coupon An election made by a corporation to claim pre-2006 unused minimum tax credits in lieu of claiming the special depreciation allowance for either its first tax year ending after March 31, 2008, its first tax year ending after December 31, 2008, or its first tax year ending after December 31, 2010, continues to apply to round 3 extension property (as defined in section 168(k)(4)(J)(iv)), unless the corporation makes an election not to apply the section 168(k)(4) election to round 3 extension property. Turbotax state efile coupon If a corporation did not make a section 168(k)(4) election for either its first tax year ending after March 31, 2008, its first tax year ending after December 31, 2008, or its first tax year ending after December 31, 2010, the corporation may elect for its first tax year ending after December 31, 2012, to claim pre-2006 unused minimum tax credits in lieu of claiming the special depreciation allowance for only round 3 extension property. Turbotax state efile coupon If you make an election to accelerate these credits in lieu of claiming the special depreciation allowance for eligible property, you must not take the 50% special depreciation allowance for the property and must depreciate the basis in the property under MACRS using the straight line method. Turbotax state efile coupon See Which Depreciation Method Applies in chapter 4 . Turbotax state efile coupon Once made, the election cannot be revoked without IRS consent. Turbotax state efile coupon Additional guidance. Turbotax state efile coupon   For additional guidance on the election to accelerate the research or minimum tax credit in lieu of claiming the special depreciation allowance, see Rev. Turbotax state efile coupon Proc. Turbotax state efile coupon 2008-65 on page 1082 of Internal Revenue Bulletin 2008-44, available at www. Turbotax state efile coupon irs. Turbotax state efile coupon gov/pub/irs-irbs/irb08-44. Turbotax state efile coupon pdf, Rev. Turbotax state efile coupon Proc. Turbotax state efile coupon 2009-16 on page 449 of Internal Revenue Bulletin 2009-06, available at www. Turbotax state efile coupon irs. Turbotax state efile coupon gov/pub/irs-irbs/irb09-06. Turbotax state efile coupon pdf, and Rev. Turbotax state efile coupon Proc. Turbotax state efile coupon 2009-33 on page 150 of Internal Revenue Bulletin 2009-29, available at www. Turbotax state efile coupon irs. Turbotax state efile coupon gov/pub/irs-irbs/irb09-29. Turbotax state efile coupon pdf. Turbotax state efile coupon Also, see Form 3800, General Business Credit; Form 8827, Credit for Prior Year Minimum Tax — Corporations; and related instructions. Turbotax state efile coupon   Additional guidance regarding the election to accelerate the minimum tax credit in lieu of claiming the special depreciation allowance for round 2 extension property and round 3 extension property may also be available in later Internal Revenue Bulletins available at www. Turbotax state efile coupon irs. Turbotax state efile coupon gov/irb. Turbotax state efile coupon How Much Can You Deduct? Figure the special depreciation allowance by multiplying the depreciable basis of qualified reuse and recycling property, qualified cellulosic biofuel plant property, qualified disaster assistance property, and certain qualified property acquired after December 31, 2007, by 50%. Turbotax state efile coupon For qualified property other than listed property, enter the special allowance on line 14 in Part II of Form 4562. Turbotax state efile coupon For qualified property that is listed property, enter the special allowance on line 25 in Part V of Form 4562. Turbotax state efile coupon If you place qualified property in service in a short tax year, you can take the full amount of a special depreciation allowance. Turbotax state efile coupon Depreciable basis. Turbotax state efile coupon   This is the property's cost or other basis multiplied by the percentage of business/investment use, reduced by the total amount of any credits and deductions allocable to the property. Turbotax state efile coupon   The following are examples of some credits and deductions that reduce depreciable basis. Turbotax state efile coupon Any section 179 deduction. Turbotax state efile coupon Any deduction for removal of barriers to the disabled and the elderly. Turbotax state efile coupon Any disabled access credit, enhanced oil recovery credit, and credit for employer-provided childcare facilities and services. Turbotax state efile coupon Basis adjustment to investment credit property under section 50(c) of the Internal Revenue Code. Turbotax state efile coupon   For additional credits and deductions that affect basis, see section 1016 of the Internal Revenue Code. Turbotax state efile coupon   For information about how to determine the cost or other basis of property, see What Is the Basis of Your Depreciable Property in chapter 1 . Turbotax state efile coupon For a discussion of business/investment use, see Partial business or investment use under Property Used in Your Business or Income-Producing Activity in chapter 1 . Turbotax state efile coupon Depreciating the remaining cost. Turbotax state efile coupon   After you figure your special depreciation allowance for your qualified property, you can use the remaining cost to figure your regular MACRS depreciation deduction (discussed in chapter 4 . Turbotax state efile coupon Therefore, you must reduce the depreciable basis of the property by the special depreciation allowance before figuring your regular MACRS depreciation deduction. Turbotax state efile coupon Example. Turbotax state efile coupon On November 1, 2013, Tom Brown bought and placed in service in his business qualified property that cost $450,000. Turbotax state efile coupon He did not elect to claim a section 179 deduction. Turbotax state efile coupon He deducts 50% of the cost ($225,000) as a special depreciation allowance for 2013. Turbotax state efile coupon He uses the remaining $225,000 of cost to figure his regular MACRS depreciation deduction for 2013 and later years. Turbotax state efile coupon Like-kind exchanges and involuntary conversions. Turbotax state efile coupon   If you acquire qualified property in a like-kind exchange or involuntary conversion, the carryover basis of the acquired property is eligible for a special depreciation allowance. Turbotax state efile coupon After you figure your special allowance, you can use the remaining carryover basis to figure your regular MACRS depreciation deduction. Turbotax state efile coupon In the year you claim the allowance (the year you place in service the property received in the exchange or dispose of involuntarily converted property), you must reduce the carryover basis of the property by the allowance before figuring your regular MACRS depreciation deduction. Turbotax state efile coupon See Figuring the Deduction for Property Acquired in a Nontaxable Exchange , in chapter 4 under How Is the Depreciation Deduction Figured . Turbotax state efile coupon The excess basis (the part of the acquired property's basis that exceeds its carryover basis) is also eligible for a special depreciation allowance. Turbotax state efile coupon How Can You Elect Not To Claim an Allowance? You can elect, for any class of property, not to deduct any special allowances for all property in such class placed in service during the tax year. Turbotax state efile coupon To make an election, attach a statement to your return indicating what election you are making and the class of property for which you are making the election. Turbotax state efile coupon When to make election. Turbotax state efile coupon   Generally, you must make the election on a timely filed tax return (including extensions) for the year in which you place the property in service. Turbotax state efile coupon   However, if you timely filed your return for the year without making the election, you can still make the election by filing an amended return within 6 months of the due date of the original return (not including extensions). Turbotax state efile coupon Attach the election statement to the amended return. Turbotax state efile coupon On the amended return, write “Filed pursuant to section 301. Turbotax state efile coupon 9100-2. Turbotax state efile coupon ” Revoking an election. Turbotax state efile coupon   Once you elect not to deduct a special depreciation allowance for a class of property, you cannot revoke the election without IRS consent. Turbotax state efile coupon A request to revoke the election is a request for a letter ruling. Turbotax state efile coupon If you elect not to have any special allowance apply, the property may be subject to an alternative minimum tax adjustment for depreciation. Turbotax state efile coupon When Must You Recapture an Allowance? When you dispose of property for which you claimed a special depreciation allowance, any gain on the disposition is generally recaptured (included in income) as ordinary income up to the amount of the special depreciation allowance previously allowed or allowable. Turbotax state efile coupon See When Do You Recapture MACRS Depreciation in chapter 4 or more information. Turbotax state efile coupon Recapture of allowance deducted for qualified GO Zone property. Turbotax state efile coupon   If, in any year after the year you claim the special depreciation allowance for qualified GO Zone property (including specified GO Zone extension property), the property ceases to be used in the GO Zone, you may have to recapture as ordinary income the excess benefit you received from claiming the special depreciation allowance. Turbotax state efile coupon For additional guidance, see Notice 2008-25 on page 484 of Internal Revenue Bulletin 2008-9. Turbotax state efile coupon Qualified cellulosic biomass ethanol plant property and qualified cellulosic biofuel plant property. Turbotax state efile coupon   If, in any year after the year you claim the special depreciation allowance for any qualified cellulosic biomass ethanol plant property or qualified biofuel plant property, the property ceases to be qualified cellulosic biomass ethanol plant property or qualified biofuel plant property, you may have to recapture as ordinary income the excess benefit you received from claiming the special depreciation allowance. Turbotax state efile coupon Recapture of allowance for qualified Recovery Assistance property. Turbotax state efile coupon   If, in any year after the year you claim the special depreciation allowance for qualified Recovery Assistance property, the property ceases to be used in the Kansas disaster area, you may have to recapture as ordinary income the excess benefit you received from claiming the special depreciation allowance. Turbotax state efile coupon For additional guidance, see Notice 2008-67 on page 307 of Internal Revenue Bulletin 2008-32. Turbotax state efile coupon Recapture of allowance for qualified disaster assistance property. Turbotax state efile coupon   If, in any year after the year you claim the special depreciation allowance for qualified disaster assistance property, the property ceases to be used in the applicable disaster area, you may have to recapture as ordinary income the excess benefit you received from claiming the special depreciation allowance. Turbotax state efile coupon   For additional guidance, see Notice 2008-67 on page 307 of Internal Revenue Bulletin 2008-32. Turbotax state efile coupon Prev  Up  Next   Home   More Online Publications
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Turbotax state efile coupon Publication 595 - Main Contents Table of Contents Capital Construction FundCCF Accounts Types of Accounts You Must Maintain Within a CCF Tax Treatment of CCF Deposits Tax Treatment of CCF Earnings Tax Treatment of CCF Withdrawals More Information How To Get Tax Help Capital Construction Fund The following sections discuss CCF accounts and the types of bookkeeping accounts you must maintain when you invest in a CCF account. Turbotax state efile coupon They also discuss the income tax treatment of CCF deposits, earnings, and withdrawals. Turbotax state efile coupon CCF Accounts This section explains who can open a CCF account and how to use the account to defer income tax. Turbotax state efile coupon Opening a CCF account. Turbotax state efile coupon   If you are a U. Turbotax state efile coupon S. Turbotax state efile coupon citizen and you own or lease one or more eligible vessels (defined later), you can open a CCF account. Turbotax state efile coupon However, before you open your CCF account, you must enter into an agreement with the Secretary of Commerce through the NMFS. Turbotax state efile coupon This agreement will establish the following. Turbotax state efile coupon Agreement vessels. Turbotax state efile coupon Eligible vessels named in the agreement that will be the basis for the deferral of income tax. Turbotax state efile coupon Planned use of withdrawals. Turbotax state efile coupon Use of CCF funds to acquire, build, or rebuild a vessel. Turbotax state efile coupon CCF depository. Turbotax state efile coupon Where your CCF funds will be held. Turbotax state efile coupon    You can request an application kit or get additional information from NMFS at the following address. Turbotax state efile coupon NOAA/NMFS, Financial Services Division, F/MB5 Capital Construction Fund Program 1315 East-West Highway Silver Spring, MD 20910-3282    You can obtain information on the Capital Construction Fund Program at the following website: www. Turbotax state efile coupon nmfs. Turbotax state efile coupon noaa. Turbotax state efile coupon gov/mb/financial_services/ccf. Turbotax state efile coupon htm. Turbotax state efile coupon    You can call NMFS to request an application kit or get additional information at (301) 713-2393 (ext. Turbotax state efile coupon 204). Turbotax state efile coupon Their fax number is (301) 713-1939. Turbotax state efile coupon Eligible vessels. Turbotax state efile coupon   There are two types of vessels that may be considered eligible, those weighing 5 tons or more and those weighing less than 5 tons. Turbotax state efile coupon For each type, certain requirements must be met. Turbotax state efile coupon Vessel weighing 5 tons or more. Turbotax state efile coupon   To be considered eligible, the vessel must meet all the following requirements. Turbotax state efile coupon Be built or rebuilt in the United States. Turbotax state efile coupon Be documented under the laws of the United States. Turbotax state efile coupon Be used commercially in the fisheries of the United States. Turbotax state efile coupon Be operated in the foreign or domestic commerce of the United States. Turbotax state efile coupon Vessel weighing less than 5 tons. Turbotax state efile coupon   A small vessel, weighing at least 2 net tons but less than 5 net tons, must meet all the following requirements to be considered eligible. Turbotax state efile coupon Be built or rebuilt in the United States. Turbotax state efile coupon Be owned by a U. Turbotax state efile coupon S. Turbotax state efile coupon citizen. Turbotax state efile coupon Have a home port in the United States. Turbotax state efile coupon Be used commercially in the fisheries of the United States. Turbotax state efile coupon Deferring tax on CCF deposits and earnings. Turbotax state efile coupon   You can use a CCF account to defer income tax by taking the following actions. Turbotax state efile coupon Making deposits to your CCF account from taxable income. Turbotax state efile coupon Excluding from income deposits assigned to certain accounts (discussed later). Turbotax state efile coupon Making withdrawals from your CCF account when you acquire, build, or rebuild fishing vessels. Turbotax state efile coupon Reducing the basis of fishing vessels you acquire, build, or rebuild to recapture amounts previously excluded from tax. Turbotax state efile coupon    Reporting requirements. Turbotax state efile coupon Beginning with the tax year in which you establish your agreement, you must report annual deposit and withdrawal activity to the NMFS on NOAA Form 34-82. Turbotax state efile coupon This form is due within 30 days after you file your federal income tax return even if no deposits or withdrawals are made. Turbotax state efile coupon For more information, contact the NMFS at the address or phone number given earlier. Turbotax state efile coupon Types of Accounts You Must Maintain Within a CCF This section discusses the three types of bookkeeping accounts you must maintain when you invest in a CCF account. Turbotax state efile coupon Your total CCF deposits and earnings for any given year are limited to the amount attributed to these three accounts for that year. Turbotax state efile coupon Capital account. Turbotax state efile coupon   The capital account consists primarily of amounts attributable to the following items. Turbotax state efile coupon Allowable depreciation deductions for agreement vessels. Turbotax state efile coupon Any nontaxable return of capital from either (a) or (b), below. Turbotax state efile coupon The sale or other disposition of agreement vessels. Turbotax state efile coupon Insurance or indemnity proceeds attributable to agreement vessels. Turbotax state efile coupon Any tax-exempt interest earned on state or local bonds in your CCF account. Turbotax state efile coupon Capital gain account. Turbotax state efile coupon   The capital gain account consists of amounts attributable to the following items reduced by any capital losses from assets held in your CCF account for more than 6 months. Turbotax state efile coupon Any capital gain from either of the following sources. Turbotax state efile coupon The sale or other disposition of agreement vessels held for more than 6 months. Turbotax state efile coupon Insurance or indemnity proceeds attributable to agreement vessels held for more than 6 months. Turbotax state efile coupon Any capital gain from assets held in your CCF account for more than 6 months. Turbotax state efile coupon Ordinary income account. Turbotax state efile coupon   The ordinary income account consists of amounts attributable to the following items. Turbotax state efile coupon Any earnings (without regard to the carryback of any net operating or net capital loss) from the operation of agreement vessels in the fisheries of the United States or in the foreign or domestic commerce of the United States. Turbotax state efile coupon Any capital gain from the following sources reduced by any capital losses from assets held in your CCF account for 6 months or less. Turbotax state efile coupon The sale or other disposition of agreement vessels held for 6 months or less. Turbotax state efile coupon Insurance or indemnity proceeds attributable to agreement vessels held for 6 months or less. Turbotax state efile coupon Any capital gain from assets held in your CCF account for 6 months or less. Turbotax state efile coupon Any ordinary income (such as depreciation recapture) from either of the following sources. Turbotax state efile coupon The sale or other disposition of agreement vessels. Turbotax state efile coupon Insurance or indemnity proceeds attributable to agreement vessels. Turbotax state efile coupon Any interest (not including tax-exempt interest from state and local bonds), most dividends, and other ordinary income earned on the assets in your CCF account. Turbotax state efile coupon Tax Treatment of CCF Deposits This section explains the tax treatment of income used as the basis for CCF deposits. Turbotax state efile coupon Capital gains. Turbotax state efile coupon   Do not report any transaction that produces a capital gain if you deposit the net proceeds into your CCF account. Turbotax state efile coupon This treatment applies to either of the following transactions. Turbotax state efile coupon The sale or other disposition of an agreement vessel. Turbotax state efile coupon The receipt of insurance or indemnity proceeds attributable to an agreement vessel. Turbotax state efile coupon Depreciation recapture. Turbotax state efile coupon   Do not report any transaction that produces depreciation recapture if you deposit the net proceeds into your CCF account. Turbotax state efile coupon This treatment applies to either of the following transactions. Turbotax state efile coupon The sale or other disposition of an agreement vessel. Turbotax state efile coupon The receipt of insurance or indemnity proceeds attributable to an agreement vessel. Turbotax state efile coupon Earnings from operations. Turbotax state efile coupon   Report earnings from the operation of agreement vessels on your Schedule C or C-EZ (Form 1040) even if you deposit part of these earnings into your CCF account. Turbotax state efile coupon You subtract any part of the earnings you deposited into your CCF account from the amount you would otherwise enter as taxable income on Form 1040, line 43 (for 2005). Turbotax state efile coupon Next to line 43, write “CCF” and the amount of the deposits. Turbotax state efile coupon Do not deduct these CCF deposits on Schedule C or C-EZ (Form 1040). Turbotax state efile coupon If you deposit earnings from operations into your CCF account and you must complete other forms such as Form 6251, Alternative Minimum Tax (Individuals), or a worksheet for Schedule D (Form 1040), you will need to make an extra computation. Turbotax state efile coupon When the other form instructs you to use the amount from Form 1040, line 41 (for 2005), do not use that amount. Turbotax state efile coupon Instead, add Form 1040, lines 42 and 43 (for 2005), and use that amount. Turbotax state efile coupon Self-employment tax. Turbotax state efile coupon   You must use your net profit or loss from your fishing business to figure your self-employment tax. Turbotax state efile coupon Do not reduce your net profit or loss by any earnings from operations you deposit into your CCF account. Turbotax state efile coupon    Partnerships and S corporations. Turbotax state efile coupon The deduction for partnership earnings from operations deposited into a CCF account is separately stated on Schedule K (Form 1065), line 13d, and allocated to the partners on Schedule K-1 (Form 1065), box 13 (for 2005). Turbotax state efile coupon   The deduction for S corporation earnings deposited into a CCF account is separately stated on Schedule K (Form 1120S), line 12d, and allocated to the shareholders on Schedule K-1 (Form 1120S), box 12 (for 2005). Turbotax state efile coupon Tax Treatment of CCF Earnings This section explains the tax treatment of the earnings from the assets in your CCF account when the earnings are redeposited or left in your account. Turbotax state efile coupon However, if you choose to withdraw the earnings in the year earned, you must generally pay income tax on them. Turbotax state efile coupon Capital gains. Turbotax state efile coupon   Do not report any capital gains from the sale of capital assets held in your CCF account. Turbotax state efile coupon This includes capital gain distributions reported to you on Form 1099-DIV or a substitute statement. Turbotax state efile coupon However, you should attach a statement to your tax return to list the payers and the amounts and to identify the capital gains as “CCF account earnings. Turbotax state efile coupon ” Interest and dividends. Turbotax state efile coupon   Do not report any ordinary income (such as interest and dividends) you earn on the assets in your CCF account. Turbotax state efile coupon However, you should attach a statement to your return to list the payers and the amounts and to identify them as “CCF account earnings. Turbotax state efile coupon ”   If you are required to file Schedule B (Form 1040), you can add these earnings to the list of payers and amounts on line 1 or line 5 and identify them as “CCF earnings. Turbotax state efile coupon ” Then, subtract the same amounts from the list and identify them as “CCF deposits. Turbotax state efile coupon ” Tax-exempt interest. Turbotax state efile coupon   Do not report tax-exempt interest from state or local bonds you held in your CCF account. Turbotax state efile coupon You are not required to report this interest on Form 1040, line 8b. Turbotax state efile coupon Tax Treatment of CCF Withdrawals This section discusses the tax treatment of amounts you withdraw from your CCF account during the year. Turbotax state efile coupon Qualified Withdrawals A qualified withdrawal from a CCF account is one that is approved by NMFS for either of the following uses. Turbotax state efile coupon Acquiring, building, or rebuilding qualified vessels (defined next). Turbotax state efile coupon Making principal payments on the mortgage of a qualified vessel. Turbotax state efile coupon NMFS will not approve amounts withdrawn to purchase nets not continuously attached to the vessel, such as seine nets, gill set-nets, and gill drift-nets. Turbotax state efile coupon NMFS will approve amounts withdrawn to purchase trawl nets. Turbotax state efile coupon Qualified vessel. Turbotax state efile coupon   This is any vessel that meets all of the following requirements. Turbotax state efile coupon The vessel was built or rebuilt in the United States. Turbotax state efile coupon The vessel is documented under the laws of the United States. Turbotax state efile coupon The person maintaining the CCF account agrees with the Secretary of Commerce that the vessel will be operated in United States foreign trade, Great Lakes trade, noncontiguous domestic trade, or the fisheries of the United States. Turbotax state efile coupon How to determine the source of qualified withdrawals. Turbotax state efile coupon   When you make a qualified withdrawal, the amount is treated as being withdrawn in the following order from the accounts listed below. Turbotax state efile coupon The capital account. Turbotax state efile coupon The capital gain account. Turbotax state efile coupon The ordinary income account. Turbotax state efile coupon Excluding qualified withdrawals from tax. Turbotax state efile coupon   Do not report on your income tax return any qualified withdrawals from your CCF account. Turbotax state efile coupon Reduce the depreciable basis of fishing vessels you acquire, build, or rebuild when you make a qualified withdrawal from either the capital gain or the ordinary income account. Turbotax state efile coupon Nonqualified Withdrawals A nonqualified withdrawal from a CCF account is generally any withdrawal that is not a qualified withdrawal. Turbotax state efile coupon Qualified withdrawals are defined under Qualified Withdrawals, earlier. Turbotax state efile coupon Examples. Turbotax state efile coupon   Examples of nonqualified withdrawals include the following amounts from either the ordinary income account or the capital gain account. Turbotax state efile coupon Amounts remaining in a CCF account upon termination of your agreement with NMFS. Turbotax state efile coupon Amounts you withdraw and use to make principal payments on the mortgage of a vessel if the basis of that vessel and the bases of other vessels you own have already been reduced to zero. Turbotax state efile coupon Amounts determined by the IRS to cause your CCF account balance to exceed the amount appropriate to meet your planned use of withdrawals. Turbotax state efile coupon You will generally be given 3 years to revise your plans to cover this excess balance. Turbotax state efile coupon Amounts you leave in your account for more than 25 years. Turbotax state efile coupon There is a graduated schedule under which the percentage applied to determine the amount of the nonqualified withdrawal increases from 20% in the 26th year to 100% in the 30th year. Turbotax state efile coupon How to determine the source of nonqualified withdrawals. Turbotax state efile coupon    When you make a nonqualified withdrawal from your CCF account, the amount is treated as being withdrawn in the following order from the accounts listed below. Turbotax state efile coupon The ordinary income account. Turbotax state efile coupon The capital gain account. Turbotax state efile coupon The capital account. Turbotax state efile coupon Paying tax on nonqualified withdrawals. Turbotax state efile coupon   In general, nonqualified withdrawals are taxed separately from your other gross income and at the highest marginal tax rate in effect for the year of withdrawal. Turbotax state efile coupon However, nonqualified withdrawals treated as made from the capital gain account are taxed at a rate that cannot exceed 15% for individuals and 34% for corporations. Turbotax state efile coupon    Partnerships and S corporations. Turbotax state efile coupon Taxable nonqualified partnership withdrawals are separately stated on Schedule K (Form 1065), line 20c, and allocated to the partners on Schedule K-1 (Form 1065), box 20 (for 2005). Turbotax state efile coupon Taxable nonqualified withdrawals by an S corporation are separately stated on Schedule K (Form 1120S), line 17d, and allocated to the shareholders on Schedule K-1 (Form 1120S), box 17. Turbotax state efile coupon Interest. Turbotax state efile coupon   You must pay interest on the additional tax due to nonqualified withdrawals that are treated as made from either the ordinary income or the capital gain account. Turbotax state efile coupon The interest period begins on the last date for paying tax for the year for which you deposited the amount you withdrew from your CCF account. Turbotax state efile coupon The period ends on the last date for paying tax for the year in which you make the nonqualified withdrawal. Turbotax state efile coupon The interest rate on the nonqualified withdrawal is simple interest. Turbotax state efile coupon The rate is subject to change annually and is published in the Federal Register. Turbotax state efile coupon    You also can call NMFS at (301) 713-2393 (ext. Turbotax state efile coupon 204) to get the current interest rate. Turbotax state efile coupon Interest deduction. Turbotax state efile coupon   You can deduct the interest you pay on a nonqualified withdrawal as a trade or business expense. Turbotax state efile coupon Reporting the additional tax and interest. Turbotax state efile coupon   Attach a statement to your income tax return showing your computation of the tax and the interest on a nonqualified withdrawal. Turbotax state efile coupon Include the tax and interest on Form 1040, line 63 (for 2005). Turbotax state efile coupon To the left of line 63, write in the amount of tax and interest and “CCF. Turbotax state efile coupon ” Tax benefit rule. Turbotax state efile coupon   If any portion of your nonqualified withdrawal is properly attributable to contributions (not earnings on the contributions) you made to the CCF account that did not reduce your tax liability for any tax year prior to the withdrawal year, the following tax treatment applies. Turbotax state efile coupon The part that did not reduce your tax liability for any year prior to the withdrawal year is not taxed. Turbotax state efile coupon That part is allowed as a net operating loss deduction. Turbotax state efile coupon More Information This section briefly discussed the CCF program. Turbotax state efile coupon For more detailed information, see the following legislative authorities. Turbotax state efile coupon Section 607 of the Merchant Marine Act of 1936, as amended (46 U. Turbotax state efile coupon S. Turbotax state efile coupon C. Turbotax state efile coupon 1177). Turbotax state efile coupon Chapter 2, Part 259 of title 50 of the Code of Federal Regulations (50 C. Turbotax state efile coupon F. Turbotax state efile coupon R. Turbotax state efile coupon , Part 259). Turbotax state efile coupon Subchapter A, Part 3 of title 26 of the Code of Federal Regulations (26 C. Turbotax state efile coupon F. Turbotax state efile coupon R. Turbotax state efile coupon , Part 3). Turbotax state efile coupon Section 7518 of the Internal Revenue Code (IRC 7518). Turbotax state efile coupon The application kit you can obtain from NMFS at the address or phone number given earlier may contain copies of some of these sources of additional information. Turbotax state efile coupon Also, see their web page at www. Turbotax state efile coupon nmfs. Turbotax state efile coupon noaa. Turbotax state efile coupon gov/mb/financial_services/ccf. Turbotax state efile coupon htm. Turbotax state efile coupon How To Get Tax Help You can get help with unresolved tax issues, order free publications and forms, ask tax questions, and get information from the IRS in several ways. Turbotax state efile coupon By selecting the method that is best for you, you will have quick and easy access to tax help. Turbotax state efile coupon Contacting your Taxpayer Advocate. Turbotax state efile coupon   If you have attempted to deal with an IRS problem unsuccessfully, you should contact your Taxpayer Advocate. Turbotax state efile coupon   The Taxpayer Advocate independently represents your interests and concerns within the IRS by protecting your rights and resolving problems that have not been fixed through normal channels. Turbotax state efile coupon While Taxpayer Advocates cannot change the tax law or make a technical tax decision, they can clear up problems that resulted from previous contacts and ensure that your case is given a complete and impartial review. Turbotax state efile coupon   To contact your Taxpayer Advocate: Call the Taxpayer Advocate toll free at 1-877-777-4778, Call, write, or fax the Taxpayer Advocate office in your area, Call 1-800-829-4059 if you are a TTY/TDD user, or Visit www. Turbotax state efile coupon irs. Turbotax state efile coupon gov/advocate. Turbotax state efile coupon   For more information, see Publication 1546, How To Get Help With Unresolved Tax Problems (now available in Chinese, Korean, Russian, and Vietnamese, in addition to English and Spanish). Turbotax state efile coupon Free tax services. Turbotax state efile coupon   To find out what services are available, get Publication 910, IRS Guide to Free Tax Services. Turbotax state efile coupon It contains a list of free tax publications and an index of tax topics. Turbotax state efile coupon It also describes other free tax information services, including tax education and assistance programs and a list of TeleTax topics. Turbotax state efile coupon Internet. Turbotax state efile coupon You can access the IRS website 24 hours a day, 7 days a week, at www. Turbotax state efile coupon irs. Turbotax state efile coupon gov to: E-file your return. Turbotax state efile coupon Find out about commercial tax preparation and e-file services available free to eligible taxpayers. Turbotax state efile coupon Check the status of your refund. Turbotax state efile coupon Click on Where's My Refund. Turbotax state efile coupon Be sure to wait at least 6 weeks from the date you filed your return (3 weeks if you filed electronically). Turbotax state efile coupon Have your tax return available because you will need to know your social security number, your filing status, and the exact whole dollar amount of your refund. Turbotax state efile coupon Download forms, instructions, and publications. Turbotax state efile coupon Order IRS products online. Turbotax state efile coupon Research your tax questions online. Turbotax state efile coupon Search publications online by topic or keyword. Turbotax state efile coupon View Internal Revenue Bulletins (IRBs) published in the last few years. Turbotax state efile coupon Figure your withholding allowances using our Form W-4 calculator. Turbotax state efile coupon Sign up to receive local and national tax news by email. Turbotax state efile coupon Get information on starting and operating a small business. Turbotax state efile coupon Phone. Turbotax state efile coupon Many services are available by phone. Turbotax state efile coupon Ordering forms, instructions, and publications. Turbotax state efile coupon Call 1-800-829-3676 to order current-year forms, instructions, and publications and prior-year forms and instructions. Turbotax state efile coupon You should receive your order within 10 days. Turbotax state efile coupon Asking tax questions. Turbotax state efile coupon Call the IRS with your tax questions at 1-800-829-1040. Turbotax state efile coupon Solving problems. Turbotax state efile coupon You can get face-to-face help solving tax problems every business day in IRS Taxpayer Assistance Centers. Turbotax state efile coupon An employee can explain IRS letters, request adjustments to your account, or help you set up a payment plan. Turbotax state efile coupon Call your local Taxpayer Assistance Center for an appointment. Turbotax state efile coupon To find the number, go to www. Turbotax state efile coupon irs. Turbotax state efile coupon gov/localcontacts or look in the phone book under United States Government, Internal Revenue Service. Turbotax state efile coupon TTY/TDD equipment. Turbotax state efile coupon If you have access to TTY/TDD equipment, call 1-800-829-4059 to ask tax questions or to order forms and publications. Turbotax state efile coupon TeleTax topics. Turbotax state efile coupon Call 1-800-829-4477 and press 2 to listen to pre-recorded messages covering various tax topics. Turbotax state efile coupon Refund information. Turbotax state efile coupon If you would like to check the status of your refund, call 1-800-829-4477 and press 1 for automated refund information and follow the recorded instructions or call 1-800-829-1954. Turbotax state efile coupon Be sure to wait at least 6 weeks from the date you filed your return (3 weeks if you filed electronically). Turbotax state efile coupon Have your tax return available because you will need to know your social security number, your filing status, and the exact whole dollar amount of your refund. Turbotax state efile coupon Evaluating the quality of our telephone services. Turbotax state efile coupon To ensure that IRS representatives give accurate, courteous, and professional answers, we use several methods to evaluate the quality of our telephone services. Turbotax state efile coupon One method is for a second IRS representative to sometimes listen in on or record telephone calls. 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