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Amend taxes online 3. Amend taxes online   Rent Expense Table of Contents Introduction Topics - This chapter discusses: RentConditional sales contract. Amend taxes online Leveraged leases. Amend taxes online Leveraged leases of limited-use property. Amend taxes online Taxes on Leased Property Cost of Getting a Lease Improvements by Lessee Capitalizing Rent Expenses Introduction This chapter discusses the tax treatment of rent or lease payments you make for property you use in your business but do not own. Amend taxes online It also discusses how to treat other kinds of payments you make that are related to your use of this property. Amend taxes online These include payments you make for taxes on the property. Amend taxes online Topics - This chapter discusses: The definition of rent Taxes on leased property The cost of getting a lease Improvements by the lessee Capitalizing rent expenses Rent Rent is any amount you pay for the use of property you do not own. Amend taxes online In general, you can deduct rent as an expense only if the rent is for property you use in your trade or business. Amend taxes online If you have or will receive equity in or title to the property, the rent is not deductible. Amend taxes online Unreasonable rent. Amend taxes online   You cannot take a rental deduction for unreasonable rent. Amend taxes online Ordinarily, the issue of reasonableness arises only if you and the lessor are related. Amend taxes online Rent paid to a related person is reasonable if it is the same amount you would pay to a stranger for use of the same property. Amend taxes online Rent is not unreasonable just because it is figured as a percentage of gross sales. Amend taxes online For examples of related persons, see Related persons in chapter 2, Publication 544. Amend taxes online Rent on your home. Amend taxes online   If you rent your home and use part of it as your place of business, you may be able to deduct the rent you pay for that part. Amend taxes online You must meet the requirements for business use of your home. Amend taxes online For more information, see Business use of your home in chapter 1. Amend taxes online Rent paid in advance. Amend taxes online   Generally, rent paid in your trade or business is deductible in the year paid or accrued. Amend taxes online If you pay rent in advance, you can deduct only the amount that applies to your use of the rented property during the tax year. Amend taxes online You can deduct the rest of your payment only over the period to which it applies. Amend taxes online Example 1. Amend taxes online You are a calendar year taxpayer and you leased a building for 5 years beginning July 1. Amend taxes online Your rent is $12,000 per year. Amend taxes online You paid the first year's rent ($12,000) on June 30. Amend taxes online You can deduct only $6,000 (6/12 × $12,000) for the rent that applies to the first year. Amend taxes online Example 2. Amend taxes online You are a calendar year taxpayer. Amend taxes online Last January you leased property for 3 years for $6,000 a year. Amend taxes online You paid the full $18,000 (3 × $6,000) during the first year of the lease. Amend taxes online Each year you can deduct only $6,000, the part of the lease that applies to that year. Amend taxes online Canceling a lease. Amend taxes online   You generally can deduct as rent an amount you pay to cancel a business lease. Amend taxes online Lease or purchase. Amend taxes online   There may be instances in which you must determine whether your payments are for rent or for the purchase of the property. Amend taxes online You must first determine whether your agreement is a lease or a conditional sales contract. Amend taxes online Payments made under a conditional sales contract are not deductible as rent expense. Amend taxes online Conditional sales contract. Amend taxes online   Whether an agreement is a conditional sales contract depends on the intent of the parties. Amend taxes online Determine intent based on the provisions of the agreement and the facts and circumstances that exist when you make the agreement. Amend taxes online No single test, or special combination of tests, always applies. Amend taxes online However, in general, an agreement may be considered a conditional sales contract rather than a lease if any of the following is true. Amend taxes online The agreement applies part of each payment toward an equity interest you will receive. Amend taxes online You get title to the property after you make a stated amount of required payments. Amend taxes online The amount you must pay to use the property for a short time is a large part of the amount you would pay to get title to the property. Amend taxes online You pay much more than the current fair rental value of the property. Amend taxes online You have an option to buy the property at a nominal price compared to the value of the property when you may exercise the option. Amend taxes online Determine this value when you make the agreement. Amend taxes online You have an option to buy the property at a nominal price compared to the total amount you have to pay under the agreement. Amend taxes online The agreement designates part of the payments as interest, or that part is easy to recognize as interest. Amend taxes online Leveraged leases. Amend taxes online   Leveraged lease transactions may not be considered leases. Amend taxes online Leveraged leases generally involve three parties: a lessor, a lessee, and a lender to the lessor. Amend taxes online Usually the lease term covers a large part of the useful life of the leased property, and the lessee's payments to the lessor are enough to cover the lessor's payments to the lender. Amend taxes online   If you plan to take part in what appears to be a leveraged lease, you may want to get an advance ruling. Amend taxes online Revenue Procedure 2001-28 on page 1156 of Internal Revenue Bulletin 2001-19 contains the guidelines the IRS will use to determine if a leveraged lease is a lease for federal income tax purposes. Amend taxes online Revenue Procedure 2001-29 on page 1160 of the same Internal Revenue Bulletin provides the information required to be furnished in a request for an advance ruling on a leveraged lease transaction. Amend taxes online Internal Revenue Bulletin 2001-19 is available at www. Amend taxes online irs. Amend taxes online gov/pub/irs-irbs/irb01-19. Amend taxes online pdf. Amend taxes online   In general, Revenue Procedure 2001-28 provides that, for advance ruling purposes only, the IRS will consider the lessor in a leveraged lease transaction to be the owner of the property and the transaction to be a valid lease if all the factors in the revenue procedure are met, including the following. Amend taxes online The lessor must maintain a minimum unconditional “at risk” equity investment in the property (at least 20% of the cost of the property) during the entire lease term. Amend taxes online The lessee may not have a contractual right to buy the property from the lessor at less than fair market value when the right is exercised. Amend taxes online The lessee may not invest in the property, except as provided by Revenue Procedure 2001-28. Amend taxes online The lessee may not lend any money to the lessor to buy the property or guarantee the loan used by the lessor to buy the property. Amend taxes online The lessor must show that it expects to receive a profit apart from the tax deductions, allowances, credits, and other tax attributes. Amend taxes online   The IRS may charge you a user fee for issuing a tax ruling. Amend taxes online For more information, see Revenue Procedure 2014-1 available at  www. Amend taxes online irs. Amend taxes online gov/irb/2014-1_IRB/ar05. Amend taxes online html. Amend taxes online Leveraged leases of limited-use property. Amend taxes online   The IRS will not issue advance rulings on leveraged leases of so-called limited-use property. Amend taxes online Limited-use property is property not expected to be either useful to or usable by a lessor at the end of the lease term except for continued leasing or transfer to a lessee. Amend taxes online See Revenue Procedure 2001-28 for examples of limited-use property and property that is not limited-use property. Amend taxes online Leases over $250,000. Amend taxes online   Special rules are provided for certain leases of tangible property. Amend taxes online The rules apply if the lease calls for total payments of more than $250,000 and any of the following apply. Amend taxes online Rents increase during the lease. Amend taxes online Rents decrease during the lease. Amend taxes online Rents are deferred (rent is payable after the end of the calendar year following the calendar year in which the use occurs and the rent is allocated). Amend taxes online Rents are prepaid (rent is payable before the end of the calendar year preceding the calendar year in which the use occurs and the rent is allocated). Amend taxes online These rules do not apply if your lease specifies equal amounts of rent for each month in the lease term and all rent payments are due in the calendar year to which the rent relates (or in the preceding or following calendar year). Amend taxes online   Generally, if the special rules apply, you must use an accrual method of accounting (and time value of money principles) for your rental expenses, regardless of your overall method of accounting. Amend taxes online In addition, in certain cases in which the IRS has determined that a lease was designed to achieve tax avoidance, you must take rent and stated or imputed interest into account under a constant rental accrual method in which the rent is treated as accruing ratably over the entire lease term. Amend taxes online For details, see section 467 of the Internal Revenue Code. Amend taxes online Taxes on Leased Property If you lease business property, you can deduct as additional rent any taxes you have to pay to or for the lessor. Amend taxes online When you can deduct these taxes as additional rent depends on your accounting method. Amend taxes online Cash method. Amend taxes online   If you use the cash method of accounting, you can deduct the taxes as additional rent only for the tax year in which you pay them. Amend taxes online Accrual method. Amend taxes online   If you use an accrual method of accounting, you can deduct taxes as additional rent for the tax year in which you can determine all the following. Amend taxes online That you have a liability for taxes on the leased property. Amend taxes online How much the liability is. Amend taxes online That economic performance occurred. Amend taxes online   The liability and amount of taxes are determined by state or local law and the lease agreement. Amend taxes online Economic performance occurs as you use the property. Amend taxes online Example 1. Amend taxes online Oak Corporation is a calendar year taxpayer that uses an accrual method of accounting. Amend taxes online Oak leases land for use in its business. Amend taxes online Under state law, owners of real property become liable (incur a lien on the property) for real estate taxes for the year on January 1 of that year. Amend taxes online However, they do not have to pay these taxes until July 1 of the next year (18 months later) when tax bills are issued. Amend taxes online Under the terms of the lease, Oak becomes liable for the real estate taxes in the later year when the tax bills are issued. Amend taxes online If the lease ends before the tax bill for a year is issued, Oak is not liable for the taxes for that year. Amend taxes online Oak cannot deduct the real estate taxes as rent until the tax bill is issued. Amend taxes online This is when Oak's liability under the lease becomes fixed. Amend taxes online Example 2. Amend taxes online The facts are the same as in Example 1 except that, according to the terms of the lease, Oak becomes liable for the real estate taxes when the owner of the property becomes liable for them. Amend taxes online As a result, Oak will deduct the real estate taxes as rent on its tax return for the earlier year. Amend taxes online This is the year in which Oak's liability under the lease becomes fixed. Amend taxes online Cost of Getting a Lease You may either enter into a new lease with the lessor of the property or get an existing lease from another lessee. Amend taxes online Very often when you get an existing lease from another lessee, you must pay the previous lessee money to get the lease, besides having to pay the rent on the lease. Amend taxes online If you get an existing lease on property or equipment for your business, you generally must amortize any amount you pay to get that lease over the remaining term of the lease. Amend taxes online For example, if you pay $10,000 to get a lease and there are 10 years remaining on the lease with no option to renew, you can deduct $1,000 each year. Amend taxes online The cost of getting an existing lease of tangible property is not subject to the amortization rules for section 197 intangibles discussed in chapter 8. Amend taxes online Option to renew. Amend taxes online   The term of the lease for amortization includes all renewal options plus any other period for which you and the lessor reasonably expect the lease to be renewed. Amend taxes online However, this applies only if less than 75% of the cost of getting the lease is for the term remaining on the purchase date (not including any period for which you may choose to renew, extend, or continue the lease). Amend taxes online Allocate the lease cost to the original term and any option term based on the facts and circumstances. Amend taxes online In some cases, it may be appropriate to make the allocation using a present value computation. Amend taxes online For more information, see Regulations section 1. Amend taxes online 178-1(b)(5). Amend taxes online Example 1. Amend taxes online You paid $10,000 to get a lease with 20 years remaining on it and two options to renew for 5 years each. Amend taxes online Of this cost, you paid $7,000 for the original lease and $3,000 for the renewal options. Amend taxes online Because $7,000 is less than 75% of the total $10,000 cost of the lease (or $7,500), you must amortize the $10,000 over 30 years. Amend taxes online That is the remaining life of your present lease plus the periods for renewal. Amend taxes online Example 2. Amend taxes online The facts are the same as in Example 1, except that you paid $8,000 for the original lease and $2,000 for the renewal options. Amend taxes online You can amortize the entire $10,000 over the 20-year remaining life of the original lease. Amend taxes online The $8,000 cost of getting the original lease was not less than 75% of the total cost of the lease (or $7,500). Amend taxes online Cost of a modification agreement. Amend taxes online   You may have to pay an additional “rent” amount over part of the lease period to change certain provisions in your lease. Amend taxes online You must capitalize these payments and amortize them over the remaining period of the lease. Amend taxes online You cannot deduct the payments as additional rent, even if they are described as rent in the agreement. Amend taxes online Example. Amend taxes online You are a calendar year taxpayer and sign a 20-year lease to rent part of a building starting on January 1. Amend taxes online However, before you occupy it, you decide that you really need less space. Amend taxes online The lessor agrees to reduce your rent from $7,000 to $6,000 per year and to release the excess space from the original lease. Amend taxes online In exchange, you agree to pay an additional rent amount of $3,000, payable in 60 monthly installments of $50 each. Amend taxes online   You must capitalize the $3,000 and amortize it over the 20-year term of the lease. Amend taxes online Your amortization deduction each year will be $150 ($3,000 ÷ 20). Amend taxes online You cannot deduct the $600 (12 × $50) that you will pay during each of the first 5 years as rent. Amend taxes online Commissions, bonuses, and fees. Amend taxes online   Commissions, bonuses, fees, and other amounts you pay to get a lease on property you use in your business are capital costs. Amend taxes online You must amortize these costs over the term of the lease. Amend taxes online Loss on merchandise and fixtures. Amend taxes online   If you sell at a loss merchandise and fixtures that you bought solely to get a lease, the loss is a cost of getting the lease. Amend taxes online You must capitalize the loss and amortize it over the remaining term of the lease. Amend taxes online Improvements by Lessee If you add buildings or make other permanent improvements to leased property, depreciate the cost of the improvements using the modified accelerated cost recovery system (MACRS). Amend taxes online Depreciate the property over its appropriate recovery period. Amend taxes online You cannot amortize the cost over the remaining term of the lease. Amend taxes online If you do not keep the improvements when you end the lease, figure your gain or loss based on your adjusted basis in the improvements at that time. Amend taxes online For more information, see the discussion of MACRS in Publication 946, How To Depreciate Property. Amend taxes online Assignment of a lease. Amend taxes online   If a long-term lessee who makes permanent improvements to land later assigns all lease rights to you for money and you pay the rent required by the lease, the amount you pay for the assignment is a capital investment. Amend taxes online If the rental value of the leased land increased since the lease began, part of your capital investment is for that increase in the rental value. Amend taxes online The rest is for your investment in the permanent improvements. Amend taxes online   The part that is for the increased rental value of the land is a cost of getting a lease, and you amortize it over the remaining term of the lease. Amend taxes online You can depreciate the part that is for your investment in the improvements over the recovery period of the property as discussed earlier, without regard to the lease term. Amend taxes online Capitalizing Rent Expenses Under the uniform capitalization rules, you must capitalize the direct costs and part of the indirect costs for certain production or resale activities. Amend taxes online Include these costs in the basis of property you produce or acquire for resale, rather than claiming them as a current deduction. Amend taxes online You recover the costs through depreciation, amortization, or cost of goods sold when you use, sell, or otherwise dispose of the property. Amend taxes online Indirect costs include amounts incurred for renting or leasing equipment, facilities, or land. Amend taxes online Uniform capitalization rules. Amend taxes online   You may be subject to the uniform capitalization rules if you do any of the following, unless the property is produced for your use other than in a business or an activity carried on for profit. Amend taxes online Produce real property or tangible personal property. Amend taxes online For this purpose, tangible personal property includes a film, sound recording, video tape, book, or similar property. Amend taxes online Acquire property for resale. Amend taxes online However, these rules do not apply to the following property. Amend taxes online Personal property you acquire for resale if your average annual gross receipts are $10 million or less for the 3 prior tax years. Amend taxes online Property you produce if you meet either of the following conditions. Amend taxes online Your indirect costs of producing the property are $200,000 or less. Amend taxes online You use the cash method of accounting and do not account for inventories. Amend taxes online Example 1. Amend taxes online You rent construction equipment to build a storage facility. Amend taxes online If you are subject to the uniform capitalization rules, you must capitalize as part of the cost of the building the rent you paid for the equipment. Amend taxes online You recover your cost by claiming a deduction for depreciation on the building. Amend taxes online Example 2. Amend taxes online You rent space in a facility to conduct your business of manufacturing tools. Amend taxes online If you are subject to the uniform capitalization rules, you must include the rent you paid to occupy the facility in the cost of the tools you produce. Amend taxes online More information. Amend taxes online   For more information on these rules, see Uniform Capitalization Rules in Publication 538 and the regulations under Internal Revenue Code section 263A. Amend taxes online Prev  Up  Next   Home   More Online Publications
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Face-to-face Tax Help

IRS Taxpayer Assistance Centers (TACs) are your source for personal tax help when you believe your tax issue can only be handled face-to-face. No appointment is necessary.

Keep in mind, many questions can be resolved online without waiting in line. Through IRS.gov you can:
• Set up a payment plan.
• Get a transcript of your tax return.
• Make a payment.
• Check on your refund.
• Find answers to many of your tax questions.

We are now referring all requests for tax return preparation services to other available resources. You can take advantage of free tax preparation through Free File, Free File Fillable Forms or through a volunteer site in your community. To find the nearest volunteer site location or to get more information about Free File, go to the top of the page and enter “Free Tax Help” in the Search box.

If you have a tax account issues and feel that it requires talking with someone face-to-face, visit your local TAC.

Caution:  Many of our offices are located in Federal Office Buildings. These buildings may not allow visitors to bring in cell phones with camera capabilities.

Multilingual assistance is available in every office. Hours of operation are subject to change.

Before visiting your local office click on "Services Provided" in the chart below to see what services are available. Services are limited and not all services are available at every TAC office and may vary from site to site. You can get these services on a walk-in basis.

City Street Address Days/Hours of Service Telephone*
Bowling Green 200 West Professional
Park Court
Bowling Green, KY 42104

Monday-Friday 8:30 a.m.-4:30 p.m.
(Closed for lunch 11:30 a.m. - 12:30 p.m.)

 

Services Provided

(270) 782-7667
Hopkinsville 121 W. Tenth St.
Hopkinsville, KY 42240

Monday-Friday - 8:30 a.m.-4:30 p.m.
(Closed for lunch 11:30 a.m. - 12:30 p.m.)

 

Services Provided

(270) 886-6625 
Lexington  1500 Leestown Rd.
Lexington, KY 40511 

Monday-Friday - 8:30 a.m.-4:30 p.m.

 

Services Provided

(859) 244-2400 
Louisville  600 Dr. Martin Luther
King Jr. Place
Louisville, KY 40202 

Monday-Friday - 8:30 a.m.-4:30 p.m. 

 

**This office will be open until 6:00 p.m. on 4/14 & 4/15**

 

Services Provided

(502) 582-6700 
Owensboro  401 Frederica St.
Owensboro, KY 42301 

Monday-Friday - 8:30 a.m.-4:30 p.m.
(Closed for lunch 11:30 a.m. - 12:30 p.m.)

 

   Services Provided

(270) 852-8490 
Paducah  2765 Wayne Sullivan Dr.
Paducah, KY 42003 

Monday - Friday  8:30 a.m. - 4:30 p.m.
(Closed for lunch 11:30 a.m.-12:30 p.m.) 

 

Services Provided

(270) 443-1977 
Prestonsburg  311 N. Arnold Ave.
Prestonsburg, KY 41653 

Monday-Friday - 8:30 a.m.-4:30 p.m.
(Closed for lunch 12:00 noon - 1:00 p.m.) 

 

Services Provided

(606) 889-1590 

* Note: The phone numbers in the chart above are not toll-free for all locations. When you call, you will reach a recorded business message with information about office hours, locations and services provided in that office. If face-to-face assistance is not a priority for you, you may also get help with IRS letters or resolve tax account issues by phone, toll free at 1-800-829-1040 (individuals) or 1-800-829-4933 (businesses).

For information on where to file your tax return please see Where to File Addresses.

The Taxpayer Advocate Service: Call (502) 582-6030 in Louisville or 1-877-777-4778 elsewhere, or see  Publication 1546, The Taxpayer Advocate Service of the IRS. For further information, see  Tax Topic 104.

Partnerships

IRS and organizations all over the country are partnering to assist taxpayers. Through these partnerships, organizations are also achieving their own goals. These mutually beneficial partnerships are strengthening outreach efforts and bringing education and assistance to millions.

For more information about these programs for individuals and families, contact the Stakeholder Partnerships, Education and Communication Office at:

Internal Revenue Service
600 Dr. Martin Luther King, Jr. Place
Room 321
Louisville, KY 40202

For more information about these programs for businesses, your local Stakeholder Liaison office establishes relationships with organizations representing small business and self-employed taxpayers. They provide information about the policies, practices and procedures the IRS uses to ensure compliance with the tax laws. To establish a relationship with us, use this list to find a contact in your state:

Stakeholder Liaison (SL) Phone Numbers for Organizations Representing Small Businesses and Self-employed Taxpayers.

Page Last Reviewed or Updated: 28-Mar-2014

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