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2012 1040ez Form

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2012 1040ez Form

2012 1040ez form Index A Accrual foreign taxes, adjustments, You may have to post a bond. 2012 1040ez form Accrual method of accounting, Accrual method of accounting. 2012 1040ez form Allocation Carryback/carryover between spouses, Allocations Between Spouses Foreign losses, Foreign Losses Foreign taxes, Allocation of Foreign Taxes U. 2012 1040ez form S. 2012 1040ez form losses, U. 2012 1040ez form S. 2012 1040ez form Losses Alternative minimum tax, Reminders Amended return, Claim for Refund American Samoa, resident of, Possession Exclusion Assistance (see Tax help) B Bankruptcy, effect of, Effect of bankruptcy or insolvency. 2012 1040ez form Beneficiary, Partner or S corporation shareholder. 2012 1040ez form Bond, income tax, You may have to post a bond. 2012 1040ez form Boycotting countries, Taxes From International Boycott Operations C Capital gains and losses, Capital Gains and Losses Carryback and carryover, Carrybacks and carryovers. 2012 1040ez form Allocations between spouses, Allocations Between Spouses Claim for refund, Time Limit on Tax Assessment Joint return, Married Couples Joint return–deduction year, Joint Return Filed in a Deduction Year Taxes all credited or deducted, Claim for Refund Time limit on tax assessment, Time Limit on Tax Assessment Choice to take credit or deduction Changing your choice, Making or Changing Your Choice Choice applied to all qualified foreign taxes, Choice Applies to All Qualified Foreign Taxes Claim for refund, Claim for Refund Classes of gross income, Classes of gross income. 2012 1040ez form Compensation for labor or personal services, Determining the Source of Compensation for Labor or Personal Services Geographical basis, Geographical basis. 2012 1040ez form Comprehensive example, Comprehensive Example — Filled-In Form 1116 Controlled foreign corporation shareholder, Controlled foreign corporation shareholder. 2012 1040ez form , Income from controlled foreign corporations. 2012 1040ez form Covered asset acquisition, Covered Asset Acquisition Credit How to claim, How To Claim the Credit How to figure, How To Figure the Credit Limit on, Limit on the Credit Credit for taxes paid or accrued, Credit for Taxes Paid or Accrued D Deduction for foreign taxes that are not income taxes, Foreign taxes that are not income taxes. 2012 1040ez form Distributions Lump-sum, Lump-Sum Distribution Dividends Taxes on, Taxes Imposed on Certain Dividends Dual-capacity taxpayers, Dual-capacity taxpayers. 2012 1040ez form E Economic benefits, Specific economic benefit. 2012 1040ez form Examples Comprehensive, Comprehensive Example — Filled-In Form 1116 Simple, Simple Example — Filled-In Form 1116 Excess limit, Carryback and Carryover Exchange rates, Foreign Currency and Exchange Rates Excluded income Foreign earned, Foreign Earned Income and Housing Exclusions Taxes on, Taxes on Excluded Income Exemption from foreign tax credit limit, Exemption from foreign tax credit limit. 2012 1040ez form Export financing interest, Export financing interest. 2012 1040ez form Extraterritorial income, Extraterritorial Income Exclusion F Financial services income, Financial services income. 2012 1040ez form Foreign corporation–U. 2012 1040ez form S. 2012 1040ez form shareholders, filing requirements, Taxes of U. 2012 1040ez form S. 2012 1040ez form Persons Controlling Foreign Corporations and Partnerships Foreign country, Foreign country. 2012 1040ez form Foreign currency and exchange rates, Foreign Currency and Exchange Rates Foreign income, translating, Translating foreign currency into U. 2012 1040ez form S. 2012 1040ez form dollars. 2012 1040ez form Foreign losses Allocation of, Foreign Losses Recapture of, Recapture of Prior Year Overall Foreign Loss Accounts Foreign mineral income, taxes on, Taxes on Foreign Mineral Income Foreign oil and gas extraction income, taxes on, Taxes on Combined Foreign Oil and Gas Income Foreign partnerships–U. 2012 1040ez form S. 2012 1040ez form partners, filing requirement, Taxes of U. 2012 1040ez form S. 2012 1040ez form Persons Controlling Foreign Corporations and Partnerships Foreign tax refund, Foreign tax refund. 2012 1040ez form , Foreign tax refund. 2012 1040ez form Foreign tax(es) Allocation to income categories, Allocation of Foreign Taxes For which you cannot take a credit, Foreign Taxes for Which You Cannot Take a Credit Imposed on foreign refund, Foreign tax imposed on foreign refund. 2012 1040ez form Qualifying for credit, What Foreign Taxes Qualify for the Credit? Redetermination, Foreign Tax Redetermination Refund, Foreign tax imposed on foreign refund. 2012 1040ez form Form 1040X, Claim for Refund 1116, Form 1116, Simple Example — Filled-In Form 1116, Comprehensive Example — Filled-In Form 1116 5471, Taxes of U. 2012 1040ez form S. 2012 1040ez form Persons Controlling Foreign Corporations and Partnerships 5713, Form 5713 required. 2012 1040ez form 8833, Report required. 2012 1040ez form 8865, Taxes of U. 2012 1040ez form S. 2012 1040ez form Persons Controlling Foreign Corporations and Partnerships 8873, Extraterritorial Income Exclusion Free tax services, Free help with your tax return. 2012 1040ez form Functional currency, Translating foreign currency into U. 2012 1040ez form S. 2012 1040ez form dollars. 2012 1040ez form G General category income, separate limit, General Category Income H Help (see Tax help) High-taxed income, High-taxed income. 2012 1040ez form I Income from sources in U. 2012 1040ez form S. 2012 1040ez form possessions, Determining the source of income from U. 2012 1040ez form S. 2012 1040ez form possessions. 2012 1040ez form Income re-sourced by treaty, separate limit, Certain Income Re-Sourced By Treaty Income tax, Income Tax Income tax bond, You may have to post a bond. 2012 1040ez form Interest, Penalties and interest. 2012 1040ez form Interest expense, apportioning, Interest expense. 2012 1040ez form International boycott, Taxes From International Boycott Operations Itemized deduction, Taxes for Which You Can Only Take an Itemized Deduction J Joint return Carryback and carryover, Married Couples Credit based on foreign tax of both spouses, Joint return. 2012 1040ez form Filed in a deduction year, Joint Return Filed in a Deduction Year L Levy, Income Tax Limit on credit, Limit on the Credit Losses, foreign, Foreign Losses Allocation of, Foreign Losses Recapture of, Recapture of Prior Year Overall Foreign Loss Accounts Losses, U. 2012 1040ez form S. 2012 1040ez form , U. 2012 1040ez form S. 2012 1040ez form Losses Allocation of, U. 2012 1040ez form S. 2012 1040ez form Losses Lump-sum distributions, Lump-Sum Distribution M Making or changing your choice, Making or Changing Your Choice Married couples Carryback and carryover, Married Couples Joint return, Joint return. 2012 1040ez form Mineral income, foreign,, Taxes on Foreign Mineral Income Mutual fund distributions, Mutual fund shareholder. 2012 1040ez form , Passive income. 2012 1040ez form Mutual fund shareholder, Mutual fund shareholder. 2012 1040ez form N Nonresident aliens, Nonresident Aliens Notice to the IRS of change in tax, Notice to the Internal Revenue Service (IRS) of Redetermination O Overall foreign loss, Overall foreign loss. 2012 1040ez form P Partner, Partner or S corporation shareholder. 2012 1040ez form , Partnership distributive share. 2012 1040ez form , Foreign Taxes From a Partnership or an S Corporation Passive category income, Passive Category Income Penalties, Failure-to-notify penalty. 2012 1040ez form , Penalties and interest. 2012 1040ez form Failure to file Form 5471, 8865, Penalty for not filing Form 5471 or Form 8865. 2012 1040ez form Failure to file Form 5713, Penalty for failure to file. 2012 1040ez form Failure to notify, foreign tax change, Failure-to-notify penalty. 2012 1040ez form Failure to report treaty information, Report required. 2012 1040ez form Pension, employment, and disability fund payments, Pension, unemployment, and disability fund payments. 2012 1040ez form Personal property, sales or exchanges of, Determining the Source of Income From the Sales or Exchanges of Certain Personal Property Possession exclusion, Possession Exclusion Publications (see Tax help) Purchase or sale of oil or gas, taxes in connection with, Taxes in Connection With the Purchase or Sale of Oil or Gas Q Qualified business unit, Translating foreign currency into U. 2012 1040ez form S. 2012 1040ez form dollars. 2012 1040ez form Qualified dividends, Capital Gains and Losses R Rate of exchange, Rate of exchange for foreign taxes paid. 2012 1040ez form Recapture of foreign losses, Recapture of Prior Year Overall Foreign Loss Accounts Records to keep, Records To Keep Redetermination of foreign tax, Foreign Tax Redetermination Refund claims, time limit, Time Limit on Refund Claims Refund, foreign tax, Foreign tax refund. 2012 1040ez form Reporting requirements (international boycott), Reporting requirements. 2012 1040ez form Resident aliens, Resident Aliens S S corporation shareholder, Partner or S corporation shareholder. 2012 1040ez form , Foreign Taxes From a Partnership or an S Corporation Sanctioned countries, Taxes Imposed By Sanctioned Countries (Section 901(j) Income) Section 901(j) income, Section 901(j) Income Section 901(j) sanctioned income, Taxes Imposed By Sanctioned Countries (Section 901(j) Income) Separate limit income, Separate Limit Income General category income, General Category Income Income re-sourced by treaty, Certain Income Re-Sourced By Treaty Lump-sum distribution, Lump-Sum Distribution Passive category income, Passive Category Income Section 901(j) income, Section 901(j) Income Shareholder, Mutual fund shareholder. 2012 1040ez form Simple example, Simple Example — Filled-In Form 1116 Soak-up taxes, Soak-up taxes. 2012 1040ez form Social security taxes, Pension, unemployment, and disability fund payments. 2012 1040ez form Source of compensation for labor or personal services Alternative basis, Alternative basis. 2012 1040ez form Multi-year compensation, Multi-year compensation. 2012 1040ez form Time basis, Time basis. 2012 1040ez form Transportation income, Transportation Income State income taxes, State income taxes. 2012 1040ez form Subsidy, Subsidy received. 2012 1040ez form T Tax help, How To Get Tax Help Tax treaties, Tax Treaties Taxable income from sources outside the U. 2012 1040ez form S. 2012 1040ez form , determination of, Determining Taxable Income From Sources Outside the United States Taxes Excluded income, Foreign Earned Income and Housing Exclusions In lieu of income taxes, Taxes in Lieu of Income Taxes On dividends, Taxes Imposed on Certain Dividends Paid or accrued, Credit for Taxes Paid or Accrued Withheld on income or gain, Taxes Withheld on Income or Gain (Other Than Dividends) Taxes related to a foreign tax credit splitting event, Taxes Related to a Foreign Tax Credit Splitting Event Time limit Refund claims, Time Limit on Refund Claims Tax assessment, Time Limit on Tax Assessment Translating foreign currency, Translating foreign currency into U. 2012 1040ez form S. 2012 1040ez form dollars. 2012 1040ez form U U. 2012 1040ez form S. 2012 1040ez form citizens, U. 2012 1040ez form S. 2012 1040ez form Citizens U. 2012 1040ez form S. 2012 1040ez form losses Allocation of, U. 2012 1040ez form S. 2012 1040ez form Losses U. 2012 1040ez form S. 2012 1040ez form possessions, U. 2012 1040ez form S. 2012 1040ez form possessions. 2012 1040ez form Unused foreign tax credits, carryback or carryover, Carrybacks and carryovers. 2012 1040ez form , Carryback and Carryover W Wages, Wages completely excluded. 2012 1040ez form When refunds can be claimed, Time Limit on Refund Claims When tax can be assessed, Time Limit on Tax Assessment Who can take the credit, Who Can Take the Credit? 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The 2012 1040ez Form

2012 1040ez form Internal Revenue Bulletin:  2012-14  April 2, 2012  Rev. 2012 1040ez form Proc. 2012 1040ez form 2012-23 Table of Contents SECTION 1. 2012 1040ez form PURPOSE SECTION 2. 2012 1040ez form BACKGROUND SECTION 3. 2012 1040ez form SCOPE SECTION 4. 2012 1040ez form APPLICATION. 2012 1040ez form 01 Limitations on Depreciation Deductions for Certain Automobiles. 2012 1040ez form . 2012 1040ez form 02 Inclusions in Income of Lessees of Passenger Automobiles. 2012 1040ez form SECTION 5. 2012 1040ez form EFFECTIVE DATE SECTION 6. 2012 1040ez form DRAFTING INFORMATION SECTION 1. 2012 1040ez form PURPOSE This revenue procedure provides: (1) limitations on depreciation deductions for owners of passenger automobiles first placed in service by the taxpayer during calendar year 2012, including separate tables of limitations on depreciation deductions for trucks and vans; and (2) the amounts that must be included in income by lessees of passenger automobiles first leased by the taxpayer during calendar year 2012, including a separate table of inclusion amounts for lessees of trucks and vans. 2012 1040ez form The tables detailing these depreciation limitations and lessee inclusion amounts reflect the automobile price inflation adjustments required by § 280F(d)(7) of the Internal Revenue Code. 2012 1040ez form SECTION 2. 2012 1040ez form BACKGROUND . 2012 1040ez form 01 For owners of passenger automobiles, § 280F(a) imposes dollar limitations on the depreciation deduction for the year the taxpayer places the passenger automobile in service and for each succeeding year. 2012 1040ez form For passenger automobiles placed in service after 1988, § 280F(d)(7) requires the Internal Revenue Service to increase the amounts allowable as depreciation deductions by a price inflation adjustment amount. 2012 1040ez form The method of calculating this price inflation amount for trucks and vans placed in service in or after calendar year 2003 uses a different CPI “automobile component” (the “new trucks” component) than that used in the price inflation amount calculation for other passenger automobiles (the “new cars” component), resulting in somewhat higher depreciation deductions for trucks and vans. 2012 1040ez form This change reflects the higher rate of price inflation for trucks and vans since 1988. 2012 1040ez form . 2012 1040ez form 02 Section 401(a) of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, Pub. 2012 1040ez form L. 2012 1040ez form No. 2012 1040ez form 111-312, 124 Stat. 2012 1040ez form 3296 (Dec. 2012 1040ez form 17, 2010) (the “Act”) extended the 50 percent additional first year depreciation deduction under § 168(k) to qualified property acquired by the taxpayer after December 31, 2007, and before January 1, 2013, if no written binding contract for the acquisition of the property existed before January 1, 2008, and if the taxpayer places the property in service generally before January 1, 2013. 2012 1040ez form Section 168(k)(2)(F)(i) increases the first year depreciation allowed under § 280F(a)(1)(A)(i) by $8,000 for passenger automobiles to which the additional first year depreciation deduction under § 168(k) (hereinafter, referred to as “§ 168(k) additional first year depreciation deduction”) applies. 2012 1040ez form . 2012 1040ez form 03 Section 168(k)(2)(D)(i) provides that the § 168(k) additional first year depreciation deduction does not apply to any property required to be depreciated under the alternative depreciation system of § 168(g), including property described in § 280F(b)(1). 2012 1040ez form Section 168(k)(2)(D)(iii) permits a taxpayer to elect out of the § 168(k) additional first year depreciation deduction for any class of property. 2012 1040ez form Section 168(k)(4), as amended by the Act, permits a corporation to elect to increase the alternative minimum tax (“AMT”) credit limitation under § 53(c), instead of claiming the § 168(k) additional first year depreciation deduction for all eligible qualified property placed in service after December 31, 2010, that is round 2 extension property (as defined in § 168(k)(4)(I)(iv)). 2012 1040ez form Accordingly, this revenue procedure provides tables for passenger automobiles for which the § 168(k) additional first year depreciation deduction applies. 2012 1040ez form This revenue procedure also provides tables for passenger automobiles for which the § 168(k) additional first year depreciation deduction does not apply, either because taxpayer (1) purchased the passenger automobile used; (2) did not use the passenger automobile during 2012 more than 50 percent for business purposes; (3) elected out of the § 168(k) additional first year depreciation deduction pursuant to § 168(k)(2)(D)(iii); or (4) elected to increase the § 53 AMT credit limitation in lieu of claiming § 168(k) additional first year depreciation. 2012 1040ez form . 2012 1040ez form 04 Section 280F(c) requires a reduction in the deduction allowed to the lessee of a leased passenger automobile. 2012 1040ez form The reduction must be substantially equivalent to the limitations on the depreciation deductions imposed on owners of passenger automobiles. 2012 1040ez form Under § 1. 2012 1040ez form 280F-7(a) of the Income Tax Regulations, this reduction requires a lessee to include in gross income an amount determined by applying a formula to the amount obtained from a table. 2012 1040ez form One table applies to lessees of trucks and vans and another table applies to all other passenger automobiles. 2012 1040ez form Each table shows inclusion amounts for a range of fair market values for each taxable year after the passenger automobile is first leased. 2012 1040ez form SECTION 3. 2012 1040ez form SCOPE . 2012 1040ez form 01 The limitations on depreciation deductions in section 4. 2012 1040ez form 01(2) of this revenue procedure apply to passenger automobiles (other than leased passenger automobiles) that are placed in service by the taxpayer in calendar year 2012, and continue to apply for each taxable year that the passenger automobile remains in service. 2012 1040ez form . 2012 1040ez form 02 The tables in section 4. 2012 1040ez form 02 of this revenue procedure apply to leased passenger automobiles for which the lease term begins during calendar year 2012. 2012 1040ez form Lessees of these passenger automobiles must use these tables to determine the inclusion amount for each taxable year during which the passenger automobile is leased. 2012 1040ez form See Rev. 2012 1040ez form Proc. 2012 1040ez form 2007-30, 2007-1 C. 2012 1040ez form B. 2012 1040ez form 1104, for passenger automobiles first leased during calendar year 2007; Rev. 2012 1040ez form Proc. 2012 1040ez form 2008-22, 2008-1 C. 2012 1040ez form B. 2012 1040ez form 658, for passenger automobiles first leased during calendar year 2008; Rev. 2012 1040ez form Proc. 2012 1040ez form 2009-24, 2009-17 I. 2012 1040ez form R. 2012 1040ez form B. 2012 1040ez form 885, for passenger automobiles first leased during calendar year 2009; Rev. 2012 1040ez form Proc. 2012 1040ez form 2010-18, 2010-9 I. 2012 1040ez form R. 2012 1040ez form B. 2012 1040ez form 427, as amplified and modified by section 4. 2012 1040ez form 03 of Rev. 2012 1040ez form Proc. 2012 1040ez form 2011-21, 2011-12 I. 2012 1040ez form R. 2012 1040ez form B. 2012 1040ez form 560, for passenger automobiles first leased during calendar year 2010; and Rev. 2012 1040ez form Proc. 2012 1040ez form 2011-21, for passenger automobiles first leased during calendar year 2011. 2012 1040ez form SECTION 4. 2012 1040ez form APPLICATION . 2012 1040ez form 01 Limitations on Depreciation Deductions for Certain Automobiles. 2012 1040ez form (1) Amount of the inflation adjustment. 2012 1040ez form (a) Passenger automobiles (other than trucks or vans). 2012 1040ez form Under § 280F(d)(7)(B)(i), the automobile price inflation adjustment for any calendar year is the percentage (if any) by which the CPI automobile component for October of the preceding calendar year exceeds the CPI automobile component for October 1987. 2012 1040ez form Section 280F(d)(7)(B)(ii) defines the term “CPI automobile component” as the automobile component of the Consumer Price Index for all Urban Consumers published by the Department of Labor. 2012 1040ez form The new car component of the CPI was 115. 2012 1040ez form 2 for October 1987 and 143. 2012 1040ez form 419 for October 2011. 2012 1040ez form The October 2011 index exceeded the October 1987 index by 28. 2012 1040ez form 219. 2012 1040ez form Therefore, the automobile price inflation adjustment for 2012 for passenger automobiles (other than trucks and vans) is 24. 2012 1040ez form 5 percent (28. 2012 1040ez form 219/115. 2012 1040ez form 2 x 100%). 2012 1040ez form The dollar limitations in § 280F(a) are multiplied by a factor of 0. 2012 1040ez form 245, and the resulting increases, after rounding to the nearest $100, are added to the 1988 limitations to give the depreciation limitations applicable to passenger automobiles (other than trucks and vans) for calendar year 2012. 2012 1040ez form This adjustment applies to all passenger automobiles (other than trucks and vans) that are first placed in service in calendar year 2012. 2012 1040ez form (b) Trucks and vans. 2012 1040ez form To determine the dollar limitations for trucks and vans first placed in service during calendar year 2012, the Service uses the new truck component of the CPI instead of the new car component. 2012 1040ez form The new truck component of the CPI was 112. 2012 1040ez form 4 for October 1987 and 146. 2012 1040ez form 607 for October 2011. 2012 1040ez form The October 2011 index exceeded the October 1987 index by 34. 2012 1040ez form 207. 2012 1040ez form Therefore, the automobile price inflation adjustment for 2012 for trucks and vans is 30. 2012 1040ez form 43 percent (34. 2012 1040ez form 207/112. 2012 1040ez form 4 x 100%). 2012 1040ez form The dollar limitations in § 280F(a) are multiplied by a factor of 0. 2012 1040ez form 3043, and the resulting increases, after rounding to the nearest $100, are added to the 1988 limitations to give the depreciation limitations for trucks and vans. 2012 1040ez form This adjustment applies to all trucks and vans that are first placed in service in calendar year 2012. 2012 1040ez form (2) Amount of the limitation. 2012 1040ez form Tables 1 through 4 contain the dollar amount of the depreciation limitation for each taxable year for passenger automobiles a taxpayer places in service in calendar year 2012. 2012 1040ez form Use Table 1 for a passenger automobile (other than a truck or van), and Table 2 for a truck or van, placed in service in calendar year 2012 for which the § 168(k) additional first year depreciation deduction applies. 2012 1040ez form Use Table 3 for a passenger automobile (other than a truck or van), and Table 4 for a truck or van, placed in service in calendar year 2012 for which the § 168(k) additional first year depreciation deduction does not apply. 2012 1040ez form REV. 2012 1040ez form PROC. 2012 1040ez form 2012-23 TABLE 1 DEPRECIATION LIMITATIONS FOR PASSENGER AUTOMOBILES (THAT ARE NOT TRUCKS OR VANS) PLACED IN SERVICE IN CALENDAR YEAR 2012 FOR WHICH THE § 168(k) ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION APPLIES Tax Year Amount 1st Tax Year $11,160 2nd Tax Year $5,100 3rd Tax Year $3,050 Each Succeeding Year $1,875 REV. 2012 1040ez form PROC. 2012 1040ez form 2012-23 TABLE 2 DEPRECIATION LIMITATIONS FOR TRUCKS AND VANS PLACED IN SERVICE IN CALENDAR YEAR 2012 FOR WHICH THE § 168(k) ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION APPLIES Tax Year Amount 1st Tax Year $11,360 2nd Tax Year $5,300 3rd Tax Year $3,150 Each Succeeding Year $1,875 REV. 2012 1040ez form PROC. 2012 1040ez form 2012-23 TABLE 3 DEPRECIATION LIMITATIONS FOR PASSENGER AUTOMOBILES (THAT ARE NOT TRUCKS OR VANS) PLACED IN SERVICE IN CALENDAR YEAR 2012 FOR WHICH THE § 168(k) ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION DOES NOT APPLY Tax Year Amount 1st Tax Year $3,160 2nd Tax Year $5,100 3rd Tax Year $3,050 Each Succeeding Year $1,875 REV. 2012 1040ez form PROC. 2012 1040ez form 2012-23 TABLE 4 DEPRECIATION LIMITATIONS FOR TRUCKS AND VANS PLACED IN SERVICE IN CALENDAR YEAR 2012 FOR WHICH THE § 168(k) ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION DOES NOT APPLY Tax Year Amount 1st Tax Year $3,360 2nd Tax Year $5,300 3rd Tax Year $3,150 Each Succeeding Year $1,875 . 2012 1040ez form 02 Inclusions in Income of Lessees of Passenger Automobiles. 2012 1040ez form A taxpayer must follow the procedures in § 1. 2012 1040ez form 280F-7(a) for determining the inclusion amounts for passenger automobiles first leased in calendar year 2012. 2012 1040ez form In applying these procedures, lessees of passenger automobiles other than trucks and vans should use Table 5 of this revenue procedure, while lessees of trucks and vans should use Table 6 of this revenue procedure. 2012 1040ez form REV. 2012 1040ez form PROC. 2012 1040ez form 2012-23 TABLE 5 DOLLAR AMOUNTS FOR PASSENGER AUTOMOBILES (THAT ARE NOT TRUCKS OR VANS) WITH A LEASE TERM BEGINNING IN CALENDAR YEAR 2012 Fair Market Value of Passenger Automobile Tax Year During Lease Over Not Over 1st 2nd 3rd 4th 5th & Later $18,500 $19,000 2 4 5 6 8 19,000 19,500 2 4 7 7 9 19,500 20,000 2 5 8 8 10 20,000 20,500 3 5 9 10 11 20,500 21,000 3 6 9 12 12 21,000 21,500 3 7 10 12 14 21,500 22,000 3 8 11 13 16 22,000 23,000 4 8 13 15 17 23,000 24,000 4 10 15 17 20 24,000 25,000 5 11 17 19 23 25,000 26,000 6 12 19 21 26 26,000 27,000 6 14 20 24 28 27,000 28,000 7 15 22 26 31 28,000 29,000 7 16 25 28 33 29,000 30,000 8 18 25 32 35 30,000 31,000 9 19 27 34 38 31,000 32,000 9 20 30 36 41 32,000 33,000 10 21 32 38 43 33,000 34,000 10 23 33 41 46 34,000 35,000 11 24 35 43 49 35,000 36,000 12 25 37 45 52 36,000 37,000 12 27 39 47 54 37,000 38,000 13 28 41 49 57 38,000 39,000 13 29 43 52 59 39,000 40,000 14 30 45 54 62 40,000 41,000 14 32 47 56 65 41,000 42,000 15 33 49 58 68 42,000 43,000 16 34 51 61 70 43,000 44,000 16 36 52 63 73 44,000 45,000 17 37 54 66 75 45,000 46,000 17 38 57 67 78 46,000 47,000 18 39 59 70 80 47,000 48,000 19 40 61 72 83 48,000 49,000 19 42 62 75 86 49,000 50,000 20 43 64 77 89 50,000 51,000 20 45 66 79 91 51,000 52,000 21 46 68 81 94 52,000 53,000 21 47 70 84 96 53,000 54,000 22 48 72 86 99 54,000 55,000 23 49 74 88 102 55,000 56,000 23 51 76 90 104 56,000 57,000 24 52 78 92 107 57,000 58,000 24 54 79 95 110 58,000 59,000 25 55 81 97 113 59,000 60,000 26 56 83 100 115 60,000 62,000 26 58 86 103 119 62,000 64,000 28 60 90 108 124 64,000 66,000 29 63 94 112 129 66,000 68,000 30 66 97 117 135 68,000 70,000 31 68 102 121 140 70,000 72,000 32 71 105 126 145 72,000 74,000 33 74 109 130 151 74,000 76,000 35 76 113 135 156 76,000 78,000 36 78 117 140 161 78,000 80,000 37 81 120 145 166 80,000 85,000 39 86 127 152 176 85,000 90,000 42 92 137 163 189 90,000 95,000 45 98 147 175 202 95,000 100,000 48 105 155 187 215 100,000 110,000 52 115 170 203 235 110,000 120,000 58 127 189 227 262 120,000 130,000 64 140 208 250 288 130,000 140,000 70 153 227 272 315 140,000 150,000 75 166 246 296 340 150,000 160,000 81 179 265 318 368 160,000 170,000 87 192 284 341 394 170,000 180,000 93 204 304 364 420 180,000 190,000 99 217 323 387 446 190,000 200,000 105 230 342 409 473 200,000 210,000 111 243 361 432 499 210,000 220,000 116 256 380 455 526 220,000 230,000 122 269 399 478 552 230,000 240,000 128 282 418 501 578 240,000 and up 134 294 437 524 605 REV. 2012 1040ez form PROC. 2012 1040ez form 2012-23 TABLE 6 DOLLAR AMOUNTS FOR TRUCKS AND VANS WITH A LEASE TERM BEGINNING IN CALENDAR YEAR 2012 Fair Market Value of Truck or Van Tax Year During Lease Over Not Over 1st 2nd 3rd 4th 5th & Later $19,000 $19,500 1 4 5 6 7 19,500 20,000 2 4 6 7 9 20,000 20,500 2 5 7 8 10 20,500 21,000 2 5 8 10 11 21,000 21,500 3 6 9 10 13 21,500 22,000 3 6 10 12 14 22,000 23,000 3 8 11 14 15 23,000 24,000 4 9 13 16 18 24,000 25,000 4 10 15 19 21 25,000 26,000 5 11 17 21 24 26,000 27,000 6 12 19 23 26 27,000 28,000 6 14 21 25 29 28,000 29,000 7 15 23 27 32 29,000 30,000 7 17 24 30 34 30,000 31,000 8 18 26 32 37 31,000 32,000 9 19 28 34 40 32,000 33,000 9 20 31 36 42 33,000 34,000 10 21 33 39 44 34,000 35,000 10 23 34 41 48 35,000 36,000 11 24 36 44 50 36,000 37,000 12 25 38 46 53 37,000 38,000 12 27 40 48 55 38,000 39,000 13 28 42 50 58 39,000 40,000 13 29 44 53 60 40,000 41,000 14 31 45 55 63 41,000 42,000 14 32 48 57 66 42,000 43,000 15 33 50 59 69 43,000 44,000 16 34 52 61 72 44,000 45,000 16 36 53 64 74 45,000 46,000 17 37 55 66 77 46,000 47,000 17 38 58 68 79 47,000 48,000 18 40 59 70 82 48,000 49,000 19 41 61 73 84 49,000 50,000 19 42 63 75 87 50,000 51,000 20 43 65 78 89 51,000 52,000 20 45 66 80 93 52,000 53,000 21 46 68 83 95 53,000 54,000 21 48 70 84 98 54,000 55,000 22 49 72 87 100 55,000 56,000 23 50 74 89 103 56,000 57,000 23 51 76 92 105 57,000 58,000 24 52 78 94 108 58,000 59,000 24 54 80 96 111 59,000 60,000 25 55 82 98 114 60,000 62,000 26 57 85 101 118 62,000 64,000 27 60 88 106 123 64,000 66,000 28 62 93 110 128 66,000 68,000 29 65 96 115 134 68,000 70,000 30 67 100 120 139 70,000 72,000 32 70 103 125 144 72,000 74,000 33 72 108 129 149 74,000 76,000 34 75 111 134 155 76,000 78,000 35 78 115 138 160 78,000 80,000 36 80 119 143 165 80,000 85,000 38 85 125 151 175 85,000 90,000 41 91 135 163 187 90,000 95,000 44 98 144 174 201 95,000 100,000 47 104 154 185 214 100,000 110,000 52 113 169 202 234 110,000 120,000 57 127 187 225 261 120,000 130,000 63 139 207 248 287 130,000 140,000 69 152 226 271 313 140,000 150,000 75 165 245 294 339 150,000 160,000 81 178 264 316 366 160,000 170,000 87 190 283 340 392 170,000 180,000 92 204 302 362 419 180,000 190,000 98 216 322 385 445 190,000 200,000 104 229 340 409 471 200,000 210,000 110 242 359 431 498 210,000 220,000 116 255 378 454 524 220,000 230,000 122 267 398 477 551 230,000 240,000 127 281 416 500 577 240,000 and up 133 294 435 523 603 SECTION 5. 2012 1040ez form EFFECTIVE DATE This revenue procedure applies to passenger automobiles that a taxpayer first places in service or first leases during calendar year 2012. 2012 1040ez form SECTION 6. 2012 1040ez form DRAFTING INFORMATION The principal author of this revenue procedure is Bernard P. 2012 1040ez form Harvey of the Office of Associate Chief Counsel (Income Tax & Accounting). 2012 1040ez form For further information regarding this revenue procedure, contact Mr. 2012 1040ez form Harvey at (202) 622-4930 (not a toll-free call). 2012 1040ez form Prev  Up  Next   Home   More Internal Revenue Bulletins