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Tax Act Online Free

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Tax Act Online Free

Tax act online free Part Five -   Deducción Estándar y Deducciones Detalladas Después de calcular su ingreso bruto ajustado, entonces puede restar las deducciones utilizadas para calcular los ingresos tributables. Tax act online free Puede restar la deducción estándar o las deducciones detalladas. Tax act online free Las deducciones detalladas son deducciones por determinados gastos enumerados en el Anexo A (Formulario 1040). Tax act online free Los diez capítulos de esta sección tratan sobre la deducción estándar, cada deducción detallada y el límite sobre algunas de sus deducciones detalladas si su ingreso bruto ajustado es mayor que ciertas cantidades. Tax act online free Vea el capítulo 20 para saber qué factores debe tener en cuenta al decidir si debe restar o no la deducción estándar o las deducciones detalladas. Tax act online free Table of Contents 20. Tax act online free   Deducción EstándarQué Hay de Nuevo Introduction Cantidad de la Deducción Estándar Deducción Estándar para DependientesDefinición del ingreso del trabajo. Tax act online free Quién Debe Detallar las DeduccionesCuándo detallar las deducciones. Tax act online free Personas casadas que presentan la declaración por separado. Tax act online free 21. Tax act online free   Gastos Médicos y DentalesQué Hay de Nuevo Introduction Useful Items - You may want to see: ¿Qué Son Gastos Médicos? ¿Qué Gastos Puede Incluir Este Año?Estados donde rige la ley de los bienes gananciales. Tax act online free ¿Qué Cantidad de los Gastos Puede Deducir? ¿De Qué Personas Puede Incluir Gastos Médicos?Usted Cónyuge Dependiente Difuntos ¿Qué Gastos Médicos se Pueden Incluir?Primas de Seguros Comidas y Alojamiento Transporte Gastos del Cuidado de un Dependiente Incapacitado ¿Cómo se Tratan los Reembolsos?Reembolso de Seguros Indemnizaciones por Lesiones Personales Cómo Calcular y Reclamar la Deducción en su Declaración de Impuestos¿Qué Formulario Debe Usar para la Declaración? Gastos de Trabajo Relacionados con un Impedimento Costos del Seguro Médico para Personas que Trabajan por Cuenta Propia 22. Tax act online free   ImpuestosIntroductionGobierno tribal de indios estadounidenses. Tax act online free Useful Items - You may want to see: Requisitos para Deducir Todo Impuesto Impuestos sobre los IngresosImpuestos Estatales y Locales sobre los Ingresos Impuestos Extranjeros sobre los Ingresos Impuestos Generales sobre las VentasVehículos de motor. Tax act online free Impuestos sobre Bienes RaícesImpuestos sobre bienes raíces de años anteriores. Tax act online free Ejemplos. Tax act online free Formulario 1099-S. Tax act online free Cantidades Relacionadas con Bienes Raíces que no Puede Deducir Impuestos sobre Bienes Muebles Impuestos y Cargos que no Puede Deducir Dónde se Anotan las Deducciones 23. Tax act online free   Gastos de InteresesIntroduction Useful Items - You may want to see: Intereses Hipotecarios de ViviendaCantidad Deducible Puntos Primas de Seguro Hipotecario Formulario 1098, Estado de Cuenta de los Intereses Hipotecarios Intereses Procedentes de InversionesBienes de Inversión Asignación de Gastos de Intereses Límite sobre la Deducción Cantidades que No Puede DeducirIntereses Personales Asignación de Intereses Cómo Hacer la DeclaraciónMás de un prestatario. Tax act online free Fondos procedentes de una hipoteca utilizados para negocios o inversiones. Tax act online free 24. Tax act online free   DonacionesIntroduction Useful Items - You may want to see: Organizaciones que Reúnen los Requisitos para Recibir Donaciones DeduciblesTipos de Organizaciones Calificadas Donaciones que Puede DeducirDonaciones de las Cuales Usted se Beneficia Gastos Pagados a Nombre de un Estudiante que Vive con Usted Gastos de Bolsillo al Prestar Servicios Donaciones que no Puede DeducirDonaciones Hechas a Personas Físicas Donaciones Hechas a Organizaciones no Calificadas Donaciones de las Cuales Usted se Beneficia Valor de Tiempo o Servicios Gastos Personales Cargos de Tasación Donaciones de BienesExcepción. Tax act online free Artículos domésticos. Tax act online free Deducción de más de $500. Tax act online free Formulario 1098-C. Tax act online free Se acerca el plazo para la presentación de la declaración y aún no tiene el Formulario 1098-C. Tax act online free Excepción 1: vehículo usado o mejorado por la organización. Tax act online free Excepción 2: vehículo donado o vendido a una persona necesitada. Tax act online free Deducción de $500 o menos. Tax act online free Derecho al uso de los bienes. Tax act online free Bienes muebles tangibles. Tax act online free Intereses futuros. Tax act online free Determinación del Valor Justo de Mercado Donación de Bienes Cuyo Valor ha Disminuido Donación de Bienes Cuyo Valor ha Aumentado Cuándo Puede Deducir sus DonacionesCheques. Tax act online free Mensaje de texto. Tax act online free Tarjeta de crédito. Tax act online free Pago telefónico. Tax act online free Título de acciones. Tax act online free Pagaré. Tax act online free Opción. Tax act online free Fondos de un préstamo. Tax act online free Límites sobre DeduccionesCantidades Trasladadas al Año Siguiente Documentación que se Debe MantenerDonaciones en Efectivo Donaciones que no Sean en Efectivo Gastos de Bolsillo Cómo Declarar las Donaciones Caritativas 25. Tax act online free   Pérdidas por Hecho Fortuito y Robo no Relacionadas con los NegociosQué Hay de Nuevo Introduction Useful Items - You may want to see: Hecho FortuitoMascota de la familia. Tax act online free Deterioro progresivo. Tax act online free Daños ocasionados por paneles de yeso (drywall) corrosivos. Tax act online free Robo Pérdidas de Depósitos Comprobación de las Pérdidas Cómo Calcular una PérdidaDisminución del Valor Justo de Mercado Base Ajustada Seguro y Otros Reembolsos Un Solo Hecho Fortuito en Bienes Múltiples Límites de la DeducciónRegla de los $100 Regla del 10% Cuándo Declarar Ganancias y PérdidasPérdidas en Zonas de Desastre Cómo Declarar Ganancias y Pérdidas 26. Tax act online free   Gastos de Automóvil y Otros Gastos de Negocio del EmpleadoQué Hay de Nuevo Introduction Useful Items - You may want to see: Gastos de ViajeViajes Lejos de Su Domicilio Domicilio Tributario Trabajo o Asignación Temporal ¿Qué Gastos de Viaje se Pueden Deducir? Viajes en los Estados Unidos Viajes Fuera de los Estados Unidos Convenciones Gastos de EntretenimientoLímite del 50% ¿Qué Gastos de Entretenimiento se Pueden Deducir? ¿Qué Gastos de Entretenimiento no se Pueden Deducir? Gastos por Regalos Gastos de TransportePersonal en Reserva de las Fuerzas Armadas. Tax act online free Cargos de estacionamiento. Tax act online free Publicidad en el automóvil. Tax act online free Uso compartido de automóviles. Tax act online free Transporte de herramientas o instrumentos. Tax act online free Gastos de desplazamiento de sindicalistas desde el centro del sindicato. Tax act online free Gastos de Automóvil Mantenimiento de DocumentaciónCómo Demostrar los Gastos Cuánto Tiempo Tiene que Guardar Documentación y Recibos Cómo Hacer la DeclaraciónRegalos. Tax act online free Empleados estatutarios. Tax act online free Reembolsos Cómo Llenar los Formularios 2106 y 2106-EZ Reglas Especiales 27. Tax act online free   Beneficios Tributarios para Estudios Relacionados con el TrabajoQué Hay de Nuevo Introduction Useful Items - You may want to see: Estudios Relacionados con el Trabajo que Reúnen los Requisitos de la DeducciónEstudios Requeridos por el Empleador o por Ley Estudios para Mantener o Mejorar Destrezas Estudios para Satisfacer los Requisitos Mínimos Estudios que lo Capacitan para un Nuevo Oficio o Negocio Qué Gastos se Pueden Deducir Reembolso no reclamado. Tax act online free Gastos de Transporte Gastos de Viaje No se Permiten Beneficios Dobles Reembolsos Cómo Deducir Gastos de NegociosPersonas que Trabajan por Cuenta Propia Empleados Artistas del Espectáculo y Funcionarios a los que se les Pagan Honorarios Gastos de Trabajo Relacionados con un Impedimento Documentación 28. Tax act online free   Deducciones MisceláneasQué Hay de Nuevo Introduction Useful Items - You may want to see: Deducciones Sujetas al Límite del 2%Gastos del Empleado no Reembolsados (Línea 21) Costos de la Preparación de la Declaración de Impuestos (Línea 22) Otros Gastos (Línea 23) Deducciones no Sujetas al Límite del 2%Lista de Deducciones Gastos no DeduciblesLista de Gastos no Deducibles 29. Tax act online free   Límite sobre Deducciones DetalladasIntroduction Useful Items - You may want to see: ¿Está Usted Sujeto al Límite? ¿Qué Deducciones Detalladas Están Limitadas? ¿Qué Deducciones Detalladas no Están Limitadas? ¿Cómo se Calcula el Límite?Ejemplo Prev  Up  Next   Home   More Online Publications
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Contact My Local Office in Wisconsin

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* 
Appleton  1901B East Capitol Dr.
Appleton, WI 54911 

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

 

Services Provided

(920) 996-4860 
Eau Claire  2403 Folsom St.
Eau Claire, WI  54703

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

 

**This office will open at 1:00 p.m. on 3/31**

 

**This office will close at 12:00 noon on 4/4**

 

Services Provided

(715) 836-8750 
Green Bay  440 Security  Boulevard
Green Bay, WI 54313 

Tuesday and Thursday-8:30 a.m.- 4:30 p.m.
(Closed for lunch 12:00 noon - 1:00 p.m.)

 

Services Provided

(920) 662-5999 
LaCrosse  425 State St.
LaCrosse, WI 54601 

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

 

**This office will be closed on 3/31**

 

    Services Provided

(608) 785-0246 
Madison  1242 Fourier Drive  
Suite 200
Madison, WI 53717 

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

 

Services Provided

(608) 829-5827 
Milwaukee  211 W. Wisconsin Ave.
Milwaukee, WI 53203 

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

 

Services Provided

(414) 231-2100 
Rothschild  10208 Park Plaza
Rothschild, WI 54474 

Monday-Friday 8:30 a.m.- 3:30 p.m.

 

Services Provided

(715) 355-4447 

* 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 (414) 231-2390 in Milwaukee 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
211 W. Wisconsin Ave.
Stop 4312 
Milwaukee, WI  53203

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: 31-Mar-2014

The Tax Act Online Free

Tax act online free 3. Tax act online free   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. Tax act online free The allowance applies only for the first year you place the property in service. Tax act online free For qualified property placed in service in 2013, you can take an additional 50% special allowance. Tax act online free 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. Tax act online free This chapter explains what is qualified property. Tax act online free 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. Tax act online free Corporations can elect to accelerate certain minimum tax credits in lieu of claiming the special depreciation allowance for eligible qualified property. Tax act online free See Election to Accelerate Certain Credits in Lieu of the Special Depreciation Allowance , later. Tax act online free See chapter 6 for information about getting publications and forms. Tax act online free What Is Qualified Property? Your property is qualified property if it is one of the following. Tax act online free Qualified reuse and recycling property. Tax act online free Qualified cellulosic biofuel plant property. Tax act online free Qualified disaster assistance property. Tax act online free Certain qualified property acquired after December 31, 2007. Tax act online free The following discussions provide information about the types of qualified property listed above for which you can take the special depreciation allowance. Tax act online free Qualified Reuse and Recycling Property You can take a 50% special depreciation allowance for qualified reuse and recycling property. Tax act online free 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). Tax act online free Qualified reuse and recycling property also includes software necessary to operate such equipment. Tax act online free The property must meet the following requirements. Tax act online free The property must be depreciated under MACRS. Tax act online free The property must have a useful life of at least 5 years. Tax act online free The original use of the property must begin with you after August 31, 2008. Tax act online free 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. Tax act online free The property must be placed in service for use in your trade or business after August 31, 2008. Tax act online free Excepted Property Qualified reuse and recycling property does not include any of the following. Tax act online free Any rolling stock or other equipment used to transport reuse or recyclable materials. Tax act online free Property required to be depreciated using the Alternative Depreciation System (ADS). Tax act online free 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 . Tax act online free Other bonus depreciation property to which section 168(k) of the Internal Revenue Code applies. Tax act online free Property for which you elected not to claim any special depreciation allowance (discussed later). Tax act online free Property placed in service and disposed of in the same tax year. Tax act online free Property converted from business use to personal use in the same tax year acquired. Tax act online free Property converted from personal use to business use in the same or later tax year may be qualified reuse and recycling property. Tax act online free Qualified Cellulosic Biofuel Plant Property You can take a 50% special depreciation allowance for qualified cellulosic biofuel plant property. Tax act online free Cellulosic biofuel is any liquid fuel which is produced from any lignocellulosic or hemicellulosic matter that is available on a renewable or recurring basis. Tax act online free Examples include bagasse (from sugar cane), corn stalks, and switchgrass. Tax act online free The property must meet the following requirements. Tax act online free The property is used in the United States solely to produce cellulosic biofuel. Tax act online free The original use of the property must begin with you after December 20, 2006. Tax act online free 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. Tax act online free 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. Tax act online free Note. Tax act online free 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)). Tax act online free 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. Tax act online free Special Rules Sale-leaseback. Tax act online free   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. Tax act online free   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. Tax act online free Syndicated leasing transactions. Tax act online free   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. Tax act online free   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. Tax act online free Excepted Property Qualified cellulosic biofuel plant property does not include any of the following. Tax act online free Property placed in service and disposed of in the same tax year. Tax act online free Property converted from business use to personal use in the same tax year it is acquired. Tax act online free Property converted from personal use to business use in the same or later tax year may be qualified cellulosic biomass ethanol plant property. Tax act online free Property required to be depreciated using the Alternative Depreciation System (ADS). Tax act online free 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 . Tax act online free 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. Tax act online free Property for which you elected not to claim any special depreciation allowance (discussed later). Tax act online free Property for which a deduction was taken under section 179C for certain qualified refinery property. Tax act online free Other bonus depreciation property to which section 168(k) of the Internal Revenue Code applies. Tax act online free 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. Tax act online free A list of the federally declared disaster areas is available at the FEMA website at www. Tax act online free fema. Tax act online free gov. Tax act online free Your property is qualified disaster assistance property if it meets the following requirements. Tax act online free 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. Tax act online free 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. Tax act online free The property must rehabilitate property damaged, or replace property destroyed or condemned, as a result of the applicable federally declared disaster. Tax act online free The property must be similar in nature to, and located in the same county as, the rehabilitated or replaced property. Tax act online free The original use of the property within the applicable disaster area must have begun with you on or after the applicable disaster date. Tax act online free The property is placed in service by you on or before the date which is the last day of the fourth calendar year. Tax act online free 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. Tax act online free It is not excepted property (explained later in Excepted Property ). Tax act online free Special Rules Sale-leaseback. Tax act online free   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. Tax act online free   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. Tax act online free Syndicated leasing transactions. Tax act online free   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. Tax act online free   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. Tax act online free Excepted Property Qualified disaster assistance property does not include any of the following. Tax act online free Property required to be depreciated using the Alternative Depreciation System (ADS). Tax act online free 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 . Tax act online free Property any portion of which is financed with the proceeds of a tax-exempt obligation under section 103 of the Internal Revenue Code. Tax act online free 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. Tax act online free 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. Tax act online free Any property for which the special allowance under section 168(k) or section 1400N(d) of the Internal Revenue Code applies. Tax act online free Property for which you elected not to claim any special depreciation allowance (discussed later). Tax act online free Property placed in service and disposed of in the same tax year. Tax act online free Property converted from business use to personal use in the same tax year acquired. Tax act online free Property converted from personal use to business use in the same or later tax year may be qualified disaster assistance property. Tax act online free Any gambling or animal racing property (defined later). Tax act online free Qualified revitalization building. Tax act online free   This is a commercial building and its structural components that you placed in service in a renewal community before January 1, 2010. Tax act online free If the building is new, the original use of the building must begin with you. Tax act online free If the building is not new, you must substantially rehabilitate the building and then place it in service. Tax act online free For more information, including definitions of substantially rehabilitated building and qualified revitalization expenditure, see section 1400I(b) of the Internal Revenue Code. Tax act online free Gambling or animal racing property. Tax act online free   Gambling or animal racing property includes the following personal and real property. Tax act online free 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. Tax act online free 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. Tax act online free 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. Tax act online free Your property is qualified property if it meets the following requirements. Tax act online free It is one of the following types of property. Tax act online free Tangible property depreciated under MACRS with a recovery period of 20 years or less. Tax act online free Water utility property. Tax act online free Computer software that is readily available for purchase by the general public, is subject to a nonexclusive license, and has not been substantially modified. Tax act online free (The cost of some computer software is treated as part of the cost of hardware and is depreciated under MACRS. Tax act online free ) Qualified leasehold improvement property (defined under Qualified leasehold improvement property later). Tax act online free You must have acquired the property after December 31, 2007, with no binding written contract for the acquisition in effect before January 1, 2008. Tax act online free 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)). Tax act online free The original use of the property must begin with you after December 31, 2007. Tax act online free It is not excepted property (explained later in Excepted property). Tax act online free Qualified leasehold improvement property. Tax act online free    Generally, this is any improvement to an interior part of a building that is nonresidential real property, if all the following requirements are met. Tax act online free 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. Tax act online free That part of the building is to be occupied exclusively by the lessee (or any sublessee) of that part. Tax act online free The improvement is placed in service more than 3 years after the date the building was first placed in service by any person. Tax act online free The improvement is section 1250 property. Tax act online free See chapter 3 in Publication 544, Sales and Other Dispositions of Assets, for the definition of section 1250 property. Tax act online free   However, a qualified leasehold improvement does not include any improvement for which the expenditure is attributable to any of the following. Tax act online free The enlargement of the building. Tax act online free Any elevator or escalator. Tax act online free Any structural component benefiting a common area. Tax act online free The internal structural framework of the building. Tax act online free   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. Tax act online free However, a lease between related persons is not treated as a lease. Tax act online free Related persons. Tax act online free   For this purpose, the following are related persons. Tax act online free Members of an affiliated group. Tax act online free 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. Tax act online free A corporation and an individual who directly or indirectly owns 80% or more of the value of the outstanding stock of that corporation. Tax act online free Two corporations that are members of the same controlled group. Tax act online free 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. Tax act online free The grantor and fiduciary, and the fiduciary and beneficiary, of any trust. Tax act online free 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. Tax act online free 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. Tax act online free 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. Tax act online free A corporation and a partnership if the same persons own both of the following. Tax act online free 80% or more of the value of the outstanding stock of the corporation. Tax act online free 80% or more of the capital or profits interest in the partnership. Tax act online free The executor and beneficiary of any estate. Tax act online free Long Production Period Property To be qualified property, long production period property must meet the following requirements. Tax act online free It must meet the requirements in (2)-(5), above. Tax act online free The property has a recovery period of at least 10 years or is transportation property. Tax act online free Transportation property is tangible personal property used in the trade or business of transporting persons or property. Tax act online free The property is subject to section 263A of the Internal Revenue Code. Tax act online free The property has an estimated production period exceeding 1 year and an estimated production cost exceeding $1,000,000. Tax act online free Noncommercial Aircraft To be qualified property, noncommercial aircraft must meet the following requirements. Tax act online free It must meet the requirements in (2)-(5), above. Tax act online free 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). Tax act online free 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. Tax act online free The aircraft must have an estimated production period exceeding four months and a cost exceeding $200,000. Tax act online free Special Rules Sale-leaseback. Tax act online free   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. Tax act online free   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. Tax act online free Syndicated leasing transactions. Tax act online free   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. Tax act online free   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. Tax act online free Excepted Property Qualified property does not include any of the following. Tax act online free Property placed in service and disposed of in the same tax year. Tax act online free Property converted from business use to personal use in the same tax year acquired. Tax act online free Property converted from personal use to business use in the same or later tax year may be qualified property. Tax act online free Property required to be depreciated under the Alternative Depreciation System (ADS). Tax act online free This includes listed property used 50% or less in a qualified business use. Tax act online free 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 . Tax act online free Qualified restaurant property (as defined in section 168(e)(7) of the Internal Revenue Code). Tax act online free Qualified retail improvement property (as defined in section 168(e)(8) of the Internal Revenue Code). Tax act online free Property for which you elected not to claim any special depreciation allowance (discussed later). Tax act online free Property for which you elected to accelerate certain credits in lieu of the special depreciation allowance (discussed next). Tax act online free 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. Tax act online free 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. Tax act online free 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. Tax act online free 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. Tax act online free 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. Tax act online free See Which Depreciation Method Applies in chapter 4 . Tax act online free Once made, the election cannot be revoked without IRS consent. Tax act online free Additional guidance. Tax act online free   For additional guidance on the election to accelerate the research or minimum tax credit in lieu of claiming the special depreciation allowance, see Rev. Tax act online free Proc. Tax act online free 2008-65 on page 1082 of Internal Revenue Bulletin 2008-44, available at www. Tax act online free irs. Tax act online free gov/pub/irs-irbs/irb08-44. Tax act online free pdf, Rev. Tax act online free Proc. Tax act online free 2009-16 on page 449 of Internal Revenue Bulletin 2009-06, available at www. Tax act online free irs. Tax act online free gov/pub/irs-irbs/irb09-06. Tax act online free pdf, and Rev. Tax act online free Proc. Tax act online free 2009-33 on page 150 of Internal Revenue Bulletin 2009-29, available at www. Tax act online free irs. Tax act online free gov/pub/irs-irbs/irb09-29. Tax act online free pdf. Tax act online free Also, see Form 3800, General Business Credit; Form 8827, Credit for Prior Year Minimum Tax — Corporations; and related instructions. Tax act online free   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. Tax act online free irs. Tax act online free gov/irb. Tax act online free 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%. Tax act online free For qualified property other than listed property, enter the special allowance on line 14 in Part II of Form 4562. Tax act online free For qualified property that is listed property, enter the special allowance on line 25 in Part V of Form 4562. Tax act online free If you place qualified property in service in a short tax year, you can take the full amount of a special depreciation allowance. Tax act online free Depreciable basis. Tax act online free   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. Tax act online free   The following are examples of some credits and deductions that reduce depreciable basis. Tax act online free Any section 179 deduction. Tax act online free Any deduction for removal of barriers to the disabled and the elderly. Tax act online free Any disabled access credit, enhanced oil recovery credit, and credit for employer-provided childcare facilities and services. Tax act online free Basis adjustment to investment credit property under section 50(c) of the Internal Revenue Code. Tax act online free   For additional credits and deductions that affect basis, see section 1016 of the Internal Revenue Code. Tax act online free   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 . Tax act online free 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 . Tax act online free Depreciating the remaining cost. Tax act online free   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 . Tax act online free Therefore, you must reduce the depreciable basis of the property by the special depreciation allowance before figuring your regular MACRS depreciation deduction. Tax act online free Example. Tax act online free On November 1, 2013, Tom Brown bought and placed in service in his business qualified property that cost $450,000. Tax act online free He did not elect to claim a section 179 deduction. Tax act online free He deducts 50% of the cost ($225,000) as a special depreciation allowance for 2013. Tax act online free He uses the remaining $225,000 of cost to figure his regular MACRS depreciation deduction for 2013 and later years. Tax act online free Like-kind exchanges and involuntary conversions. Tax act online free   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. Tax act online free After you figure your special allowance, you can use the remaining carryover basis to figure your regular MACRS depreciation deduction. Tax act online free 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. Tax act online free See Figuring the Deduction for Property Acquired in a Nontaxable Exchange , in chapter 4 under How Is the Depreciation Deduction Figured . Tax act online free The excess basis (the part of the acquired property's basis that exceeds its carryover basis) is also eligible for a special depreciation allowance. Tax act online free 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. Tax act online free 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. Tax act online free When to make election. Tax act online free   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. Tax act online free   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). Tax act online free Attach the election statement to the amended return. Tax act online free On the amended return, write “Filed pursuant to section 301. Tax act online free 9100-2. Tax act online free ” Revoking an election. Tax act online free   Once you elect not to deduct a special depreciation allowance for a class of property, you cannot revoke the election without IRS consent. Tax act online free A request to revoke the election is a request for a letter ruling. Tax act online free If you elect not to have any special allowance apply, the property may be subject to an alternative minimum tax adjustment for depreciation. Tax act online free 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. Tax act online free See When Do You Recapture MACRS Depreciation in chapter 4 or more information. Tax act online free Recapture of allowance deducted for qualified GO Zone property. Tax act online free   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. Tax act online free For additional guidance, see Notice 2008-25 on page 484 of Internal Revenue Bulletin 2008-9. Tax act online free Qualified cellulosic biomass ethanol plant property and qualified cellulosic biofuel plant property. Tax act online free   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. Tax act online free Recapture of allowance for qualified Recovery Assistance property. Tax act online free   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. Tax act online free For additional guidance, see Notice 2008-67 on page 307 of Internal Revenue Bulletin 2008-32. Tax act online free Recapture of allowance for qualified disaster assistance property. Tax act online free   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. Tax act online free   For additional guidance, see Notice 2008-67 on page 307 of Internal Revenue Bulletin 2008-32. Tax act online free Prev  Up  Next   Home   More Online Publications