File your Taxes for Free!
  • Get your maximum refund*
  • 100% accurate calculations guaranteed*

TurboTax Federal Free Edition - File Taxes Online

Don't let filing your taxes get you down! We'll help make it as easy as possible. With e-file and direct deposit, there's no faster way to get your refund!

Approved TurboTax Affiliate Site. TurboTax and TurboTax Online, among others, are registered trademarks and/or service marks of Intuit Inc. in the United States and other countries. Other parties' trademarks or service marks are the property of the respective owners.


© 2012 - 2018 All rights reserved.

This is an Approved TurboTax Affiliate site. TurboTax and TurboTax Online, among other are registered trademarks and/or service marks of Intuit, Inc. in the United States and other countries. Other parties' trademarks or service marks are the property of the respective owners.
When discussing "Free e-file", note that state e-file is an additional fee. E-file fees do not apply to New York state returns. Prices are subject to change without notice. E-file and get your refund faster
*If you pay an IRS or state penalty or interest because of a TurboTax calculations error, we'll pay you the penalty and interest.
*Maximum Refund Guarantee - or Your Money Back: If you get a larger refund or smaller tax due from another tax preparation method, we'll refund the applicable TurboTax federal and/or state purchase price paid. TurboTax Federal Free Edition customers are entitled to payment of $14.99 and a refund of your state purchase price paid. Claims must be submitted within sixty (60) days of your TurboTax filing date and no later than 6/15/14. E-file, Audit Defense, Professional Review, Refund Transfer and technical support fees are excluded. This guarantee cannot be combined with the TurboTax Satisfaction (Easy) Guarantee. *We're so confident your return will be done right, we guarantee it. Accurate calculations guaranteed. If you pay an IRS or state penalty or interest because of a TurboTax calculations error, we'll pay you the penalty and interest.
https://turbotax.intuit.com/corp/guarantees.jsp

Turbotax Free State Return

I Need 2011 Tax Forms1040ez Form For 2011Tax Forms For 2008Free H&r Block EfileIrs Forms Instructions 1040ezForm 1040ezWww Irs Gov Freefile ComI Need To File My 2006 Taxes For FreeState Tax Online2011 Free Tax Filing1040ez Tax BookletFree 2011 Taxes OnlineTax Forms For 20101040ez Free FileOnline 1040ez FilingFile Taxes For 2010Tax Forms 1040ez 2014Ez Tax ReturnCan You E File 2012 Taxes Now1040 Ez FreeLate Filing 2011 TaxesFree Tax Preparation LocationsUs Government Form 1040xFree 1040xIrs 1040ez Form 2012Irs Gov Amended ReturnFree Tax PrepFree TaxTax Forms1080 Ez FormFree Turbo Tax For Low IncomeFree H&r Block Military1040 EzWhere Can I Efile My State Taxes For FreeHow To File Your Own Taxes1040nr File OnlineFreefile Com1020 Ez FormE-file Prior Year Tax Return1040 Forms And Instructions

Turbotax Free State Return

Turbotax free state return 28. Turbotax free state return   Miscellaneous Deductions Table of Contents What's New Introduction Useful Items - You may want to see: Deductions Subject to the 2% LimitUnreimbursed Employee Expenses (Line 21) Tax Preparation Fees (Line 22) Other Expenses (Line 23) Deductions Not Subject to the 2% LimitList of Deductions Nondeductible ExpensesList of Nondeductible Expenses What's New Standard mileage rate. Turbotax free state return  The 2013 rate for business use of a vehicle is 56½ cents per mile. Turbotax free state return Introduction This chapter explains which expenses you can claim as miscellaneous itemized deductions on Schedule A (Form 1040). Turbotax free state return You must reduce the total of most miscellaneous itemized deductions by 2% of your adjusted gross income. Turbotax free state return This chapter covers the following topics. Turbotax free state return Deductions subject to the 2% limit. Turbotax free state return Deductions not subject to the 2% limit. Turbotax free state return Expenses you cannot deduct. Turbotax free state return You must keep records to verify your deductions. Turbotax free state return You should keep receipts, canceled checks, substitute checks, financial account statements, and other documentary evidence. Turbotax free state return For more information on recordkeeping, get Publication 552, Record- keeping for Individuals. Turbotax free state return Useful Items - You may want to see: Publication 463 Travel, Entertainment, Gift, and Car Expenses 525 Taxable and Nontaxable Income 529 Miscellaneous Deductions 535 Business Expenses 587 Business Use of Your Home (Including Use by Daycare Providers) 946 How To Depreciate Property Form (and Instructions) Schedule A (Form 1040) Itemized Deductions 2106 Employee Business Expenses 2106-EZ Unreimbursed Employee Business Expenses Deductions Subject to the 2% Limit You can deduct certain expenses as miscellaneous itemized deductions on Schedule A (Form 1040). Turbotax free state return You can claim the amount of expenses that is more than 2% of your adjusted gross income. Turbotax free state return You figure your deduction on Schedule A by subtracting 2% of your adjusted gross income from the total amount of these expenses. Turbotax free state return Your adjusted gross income is the amount on Form 1040, line 38. Turbotax free state return Generally, you apply the 2% limit after you apply any other deduction limit. Turbotax free state return For example, you apply the 50% (or 80%) limit on business-related meals and entertainment (discussed in chapter 26) before you apply the 2% limit. Turbotax free state return Deductions subject to the 2% limit are discussed in the three categories in which you report them on Schedule A (Form 1040). Turbotax free state return Unreimbursed employee expenses (line 21). Turbotax free state return Tax preparation fees (line 22). Turbotax free state return Other expenses (line 23). Turbotax free state return Unreimbursed Employee Expenses (Line 21) Generally, you can deduct on Schedule A (Form 1040), line 21, unreimbursed employee expenses that are: Paid or incurred during your tax year, For carrying on your trade or business of being an employee, and Ordinary and necessary. Turbotax free state return An expense is ordinary if it is common and accepted in your trade, business, or profession. Turbotax free state return An expense is necessary if it is appropriate and helpful to your business. Turbotax free state return An expense does not have to be required to be considered necessary. Turbotax free state return Examples of unreimbursed employee expenses are listed next. Turbotax free state return The list is followed by discussions of additional unreimbursed employee expenses. Turbotax free state return Business bad debt of an employee. Turbotax free state return Education that is work related. Turbotax free state return (See chapter 27. Turbotax free state return ) Legal fees related to your job. Turbotax free state return Licenses and regulatory fees. Turbotax free state return Malpractice insurance premiums. Turbotax free state return Medical examinations required by an employer. Turbotax free state return Occupational taxes. Turbotax free state return Passport for a business trip. Turbotax free state return Subscriptions to professional journals and trade magazines related to your work. Turbotax free state return Travel, transportation, entertainment, and gifts related to your work. Turbotax free state return (See chapter 26. Turbotax free state return ) Business Liability Insurance You can deduct insurance premiums you paid for protection against personal liability for wrongful acts on the job. Turbotax free state return Damages for Breach of Employment Contract If you break an employment contract, you can deduct damages you pay your former employer that are attributable to the pay you received from that employer. Turbotax free state return Depreciation on Computers You can claim a depreciation deduction for a computer that you use in your work as an employee if its use is: For the convenience of your employer, and Required as a condition of your employment. Turbotax free state return For more information about the rules and exceptions to the rules affecting the allowable deductions for a home computer, see Publication 529. Turbotax free state return Dues to Chambers of Commerce and Professional Societies You may be able to deduct dues paid to professional organizations (such as bar associations and medical associations) and to chambers of commerce and similar organizations, if membership helps you carry out the duties of your job. Turbotax free state return Similar organizations include: Boards of trade, Business leagues, Civic or public service organizations, Real estate boards, and Trade associations. Turbotax free state return Lobbying and political activities. Turbotax free state return   You may not be able to deduct that part of your dues that is for certain lobbying and political activities. Turbotax free state return See Dues used for lobbying under Nondeductible Expenses, later. Turbotax free state return Educator Expenses If you were an eligible educator in 2013, you can deduct up to $250 of qualified expenses you paid in 2013 as an adjustment to gross income on Form 1040, line 23, rather than as a miscellaneous itemized deduction. Turbotax free state return If you file Form 1040A, you can deduct these expenses on line 16. Turbotax free state return If you and your spouse are filing jointly and both of you were eligible educators, the maximum deduction is $500. Turbotax free state return However, neither spouse can deduct more than $250 of his or her qualified expenses. Turbotax free state return Home Office If you use a part of your home regularly and exclusively for business purposes, you may be able to deduct a part of the operating expenses and depreciation of your home. Turbotax free state return You can claim this deduction for the business use of a part of your home only if you use that part of your home regularly and exclusively: As your principal place of business for any trade or business, As a place to meet or deal with your patients, clients, or customers in the normal course of your trade or business, or In the case of a separate structure not attached to your home, in connection with your trade or business. Turbotax free state return The regular and exclusive business use must be for the convenience of your employer and not just appropriate and helpful in your job. Turbotax free state return See Publication 587 for more detailed information and a worksheet. Turbotax free state return Job Search Expenses You can deduct certain expenses you have in looking for a new job in your present occupation, even if you do not get a new job. Turbotax free state return You cannot deduct these expenses if: You are looking for a job in a new occupation, There was a substantial break between the ending of your last job and your looking for a new one, or You are looking for a job for the first time. Turbotax free state return Employment and outplacement agency fees. Turbotax free state return   You can deduct employment and outplacement agency fees you pay in looking for a new job in your present occupation. Turbotax free state return Employer pays you back. Turbotax free state return   If, in a later year, your employer pays you back for employment agency fees, you must include the amount you receive in your gross income up to the amount of your tax benefit in the earlier year. Turbotax free state return (See Recoveries in chapter 12. Turbotax free state return ) Employer pays the employment agency. Turbotax free state return   If your employer pays the fees directly to the employment agency and you are not responsible for them, you do not include them in your gross income. Turbotax free state return Résumé. Turbotax free state return   You can deduct amounts you spend for preparing and mailing copies of a résumé to prospective employers if you are looking for a new job in your present occupation. Turbotax free state return Travel and transportation expenses. Turbotax free state return   If you travel to an area and, while there, you look for a new job in your present occupation, you may be able to deduct travel expenses to and from the area. Turbotax free state return You can deduct the travel expenses if the trip is primarily to look for a new job. Turbotax free state return The amount of time you spend on personal activity compared to the amount of time you spend in looking for work is important in determining whether the trip is primarily personal or is primarily to look for a new job. Turbotax free state return   Even if you cannot deduct the travel expenses to and from an area, you can deduct the expenses of looking for a new job in your present occupation while in the area. Turbotax free state return   You can choose to use the standard mileage rate to figure your car expenses. Turbotax free state return The 2013 rate for business use of a vehicle is 56½ cents per mile. Turbotax free state return See chapter 26 for more information. Turbotax free state return Licenses and Regulatory Fees You can deduct the amount you pay each year to state or local governments for licenses and regulatory fees for your trade, business, or profession. Turbotax free state return Occupational Taxes You can deduct an occupational tax charged at a flat rate by a locality for the privilege of working or conducting a business in the locality. Turbotax free state return If you are an employee, you can claim occupational taxes only as a miscellaneous deduction subject to the 2% limit; you cannot claim them as a deduction for taxes elsewhere on your return. Turbotax free state return Repayment of Income Aid Payment An “income aid payment” is one that is received under an employer's plan to aid employees who lose their jobs because of lack of work. Turbotax free state return If you repay a lump-sum income aid payment that you received and included in income in an earlier year, you can deduct the repayment. Turbotax free state return Research Expenses of a College Professor If you are a college professor, you can deduct research expenses, including travel expenses, for teaching, lecturing, or writing and publishing on subjects that relate directly to your teaching duties. Turbotax free state return You must have undertaken the research as a means of carrying out the duties expected of a professor and without expectation of profit apart from salary. Turbotax free state return However, you cannot deduct the cost of travel as a form of education. Turbotax free state return Tools Used in Your Work Generally, you can deduct amounts you spend for tools used in your work if the tools wear out and are thrown away within 1 year from the date of purchase. Turbotax free state return You can depreciate the cost of tools that have a useful life substantially beyond the tax year. Turbotax free state return For more information about depreciation, see Publication 946. Turbotax free state return Union Dues and Expenses You can deduct dues and initiation fees you pay for union membership. Turbotax free state return You can also deduct assessments for benefit payments to unemployed union members. Turbotax free state return However, you cannot deduct the part of the assessments or contributions that provides funds for the payment of sick, accident, or death benefits. Turbotax free state return Also, you cannot deduct contributions to a pension fund, even if the union requires you to make the contributions. Turbotax free state return You may not be able to deduct amounts you pay to the union that are related to certain lobbying and political activities. Turbotax free state return See Lobbying Expenses under Nondeductible Expenses, later. Turbotax free state return Work Clothes and Uniforms You can deduct the cost and upkeep of work clothes if the following two requirements are met. Turbotax free state return You must wear them as a condition of your employment. Turbotax free state return The clothes are not suitable for everyday wear. Turbotax free state return It is not enough that you wear distinctive clothing. Turbotax free state return The clothing must be specifically required by your employer. Turbotax free state return Nor is it enough that you do not, in fact, wear your work clothes away from work. Turbotax free state return The clothing must not be suitable for taking the place of your regular clothing. Turbotax free state return Examples of workers who may be able to deduct the cost and upkeep of work clothes are: delivery workers, firefighters, health care workers, law enforcement officers, letter carriers, professional athletes, and transportation workers (air, rail, bus, etc. Turbotax free state return ). Turbotax free state return Musicians and entertainers can deduct the cost of theatrical clothing and accessories that are not suitable for everyday wear. Turbotax free state return However, work clothing consisting of white cap, white shirt or white jacket, white bib overalls, and standard work shoes, which a painter is required by his union to wear on the job, is not distinctive in character or in the nature of a uniform. Turbotax free state return Similarly, the costs of buying and maintaining blue work clothes worn by a welder at the request of a foreman are not deductible. Turbotax free state return Protective clothing. Turbotax free state return   You can deduct the cost of protective clothing required in your work, such as safety shoes or boots, safety glasses, hard hats, and work gloves. Turbotax free state return   Examples of workers who may be required to wear safety items are: carpenters, cement workers, chemical workers, electricians, fishing boat crew members, machinists, oil field workers, pipe fitters, steamfitters, and truck drivers. Turbotax free state return Military uniforms. Turbotax free state return   You generally cannot deduct the cost of your uniforms if you are on full-time active duty in the armed forces. Turbotax free state return However, if you are an armed forces reservist, you can deduct the unreimbursed cost of your uniform if military regulations restrict you from wearing it except while on duty as a reservist. Turbotax free state return In figuring the deduction, you must reduce the cost by any nontaxable allowance you receive for these expenses. Turbotax free state return   If local military rules do not allow you to wear fatigue uniforms when you are off duty, you can deduct the amount by which the cost of buying and keeping up these uniforms is more than the uniform allowance you receive. Turbotax free state return   You can deduct the cost of your uniforms if you are a civilian faculty or staff member of a military school. Turbotax free state return Tax Preparation Fees (Line 22) You can usually deduct tax preparation fees in the year you pay them. Turbotax free state return Thus, on your 2013 return, you can deduct fees paid in 2013 for preparing your 2012 return. Turbotax free state return These fees include the cost of tax preparation software programs and tax publications. Turbotax free state return They also include any fee you paid for electronic filing of your return. Turbotax free state return Other Expenses (Line 23) You can deduct certain other expenses as miscellaneous itemized deductions subject to the 2% limit. Turbotax free state return On Schedule A (Form 1040), line 23, you can deduct expenses that you pay: To produce or collect income that must be included in your gross income, To manage, conserve, or maintain property held for producing such income, or To determine, contest, pay, or claim a refund of any tax. Turbotax free state return You can deduct expenses you pay for the purposes in (1) and (2) above only if they are reasonably and closely related to these purposes. Turbotax free state return Some of these other expenses are explained in the following discussions. Turbotax free state return If the expenses you pay produce income that is only partially taxable, see Tax-Exempt Income Expenses , later, under Nondeductible Expenses. Turbotax free state return Appraisal Fees You can deduct appraisal fees if you pay them to figure a casualty loss or the fair market value of donated property. Turbotax free state return Casualty and Theft Losses You can deduct a casualty or theft loss as a miscellaneous itemized deduction subject to the 2% limit if you used the damaged or stolen property in performing services as an employee. Turbotax free state return First report the loss in Section B of Form 4684, Casualties and Thefts. Turbotax free state return You may also have to include the loss on Form 4797, Sales of Business Property, if you are otherwise required to file that form. Turbotax free state return To figure your deduction, add all casualty or theft losses from this type of property included on Form 4684, lines 32 and 38b, or Form 4797, line 18a. Turbotax free state return For other casualty and theft losses, see chapter 25. Turbotax free state return Clerical Help and Office Rent You can deduct office expenses, such as rent and clerical help, that you have in connection with your investments and collecting the taxable income on them. Turbotax free state return Credit or Debit Card Convenience Fees You can deduct the convenience fee charged by the card processor for paying your income tax (including estimated tax payments) by credit or debit card. Turbotax free state return The fees are deductible in the year paid. Turbotax free state return Depreciation on Home Computer You can deduct depreciation on your home computer if you use it to produce income (for example, to manage your investments that produce taxable income). Turbotax free state return You generally must depreciate the computer using the straight line method over the Alternative Depreciation System (ADS) recovery period. Turbotax free state return But if you work as an employee and also use the computer in that work, see Publication 946. Turbotax free state return Excess Deductions of an Estate If an estate's total deductions in its last tax year are more than its gross income for that year, the beneficiaries succeeding to the estate's property can deduct the excess. Turbotax free state return Do not include deductions for the estate's personal exemption and charitable contributions when figuring the estate's total deductions. Turbotax free state return The beneficiaries can claim the deduction only for the tax year in which, or with which, the estate terminates, whether the year of termination is a normal year or a short tax year. Turbotax free state return For more information, see Termination of Estate in Publication 559, Survivors, Executors, and Administrators. Turbotax free state return Fees to Collect Interest and Dividends You can deduct fees you pay to a broker, bank, trustee, or similar agent to collect your taxable bond interest or dividends on shares of stock. Turbotax free state return But you cannot deduct a fee you pay to a broker to buy investment property, such as stocks or bonds. Turbotax free state return You must add the fee to the cost of the property. Turbotax free state return You cannot deduct the fee you pay to a broker to sell securities. Turbotax free state return You can use the fee only to figure gain or loss from the sale. Turbotax free state return See the Instructions for Form 8949 for information on how to report the fee. Turbotax free state return Hobby Expenses You can generally deduct hobby expenses, but only up to the amount of hobby income. Turbotax free state return A hobby is not a business because it is not carried on to make a profit. Turbotax free state return See Activity not for profit in chapter 12 under Other Income. Turbotax free state return Indirect Deductions of Pass-Through Entities Pass-through entities include partnerships, S corporations, and mutual funds that are not publicly offered. Turbotax free state return Deductions of pass-through entities are passed through to the partners or shareholders. Turbotax free state return The partners or shareholders can deduct their share of passed-through deductions for investment expenses as miscellaneous itemized deductions subject to the 2% limit. Turbotax free state return Example. Turbotax free state return You are a member of an investment club that is formed solely to invest in securities. Turbotax free state return The club is treated as a partnership. Turbotax free state return The partnership's income is solely from taxable dividends, interest, and gains from sales of securities. Turbotax free state return In this case, you can deduct your share of the partnership's operating expenses as miscellaneous itemized deductions subject to the 2% limit. Turbotax free state return However, if the investment club partnership has investments that also produce nontaxable income, you cannot deduct your share of the partnership's expenses that produce the nontaxable income. Turbotax free state return Publicly offered mutual funds. Turbotax free state return   Publicly offered mutual funds do not pass deductions for investment expenses through to shareholders. Turbotax free state return A mutual fund is “publicly offered” if it is: Continuously offered pursuant to a public offering, Regularly traded on an established securities market, or Held by or for at least 500 persons at all times during the tax year. Turbotax free state return   A publicly offered mutual fund will send you a Form 1099-DIV, Dividends and Distributions, or a substitute form, showing the net amount of dividend income (gross dividends minus investment expenses). Turbotax free state return This net figure is the amount you report on your return as income. Turbotax free state return You cannot further deduct investment expenses related to publicly offered mutual funds because they are already included as part of the net income amount. Turbotax free state return Information returns. Turbotax free state return   You should receive information returns from pass-through entities. Turbotax free state return Partnerships and S corporations. Turbotax free state return   These entities issue Schedule K-1, which lists the items and amounts you must report and identifies the tax return schedules and lines to use. Turbotax free state return Nonpublicly offered mutual funds. Turbotax free state return   These funds will send you a Form 1099-DIV, Dividends and Distributions, or a substitute form, showing your share of gross income and investment expenses. Turbotax free state return You can claim the expenses only as a miscellaneous itemized deduction subject to the 2% limit. Turbotax free state return Investment Fees and Expenses You can deduct investment fees, custodial fees, trust administration fees, and other expenses you paid for managing your investments that produce taxable income. Turbotax free state return Legal Expenses You can usually deduct legal expenses that you incur in attempting to produce or collect taxable income or that you pay in connection with the determination, collection, or refund of any tax. Turbotax free state return You can also deduct legal expenses that are: Related to either doing or keeping your job, such as those you paid to defend yourself against criminal charges arising out of your trade or business, For tax advice related to a divorce, if the bill specifies how much is for tax advice and it is determined in a reasonable way, or To collect taxable alimony. Turbotax free state return You can deduct expenses of resolving tax issues relating to profit or loss from business (Schedule C or C-EZ), rentals or royalties (Schedule E), or farm income and expenses (Schedule F), on the appropriate schedule. Turbotax free state return You deduct expenses of resolving nonbusiness tax issues on Schedule A (Form 1040). Turbotax free state return See Tax Preparation Fees , earlier. Turbotax free state return Loss on Deposits For information on whether, and if so, how, you may deduct a loss on your deposit in a qualified financial institution, see Loss on Deposits in chapter 25. Turbotax free state return Repayments of Income If you had to repay an amount that you included in income in an earlier year, you may be able to deduct the amount you repaid. Turbotax free state return If the amount you had to repay was ordinary income of $3,000 or less, the deduction is subject to the 2% limit. Turbotax free state return If it was more than $3,000, see Repayments Under Claim of Right under Deductions Not Subject to the 2% Limit, later. Turbotax free state return Repayments of Social Security Benefits For information on how to deduct your repayments of certain social security benefits, see Repayments More Than Gross Benefits in chapter 11. Turbotax free state return Safe Deposit Box Rent You can deduct safe deposit box rent if you use the box to store taxable income-producing stocks, bonds, or investment-related papers and documents. Turbotax free state return You cannot deduct the rent if you use the box only for jewelry, other personal items, or tax-exempt securities. Turbotax free state return Service Charges on Dividend Reinvestment Plans You can deduct service charges you pay as a subscriber in a dividend reinvestment plan. Turbotax free state return These service charges include payments for: Holding shares acquired through a plan, Collecting and reinvesting cash dividends, and Keeping individual records and providing detailed statements of accounts. Turbotax free state return Trustee's Administrative Fees for IRA Trustee's administrative fees that are billed separately and paid by you in connection with your individual retirement arrangement (IRA) are deductible (if they are ordinary and necessary) as a miscellaneous itemized deduction subject to the 2% limit. Turbotax free state return For more information about IRAs, see chapter 17. Turbotax free state return Deductions Not Subject to the 2% Limit You can deduct the items listed below as miscellaneous itemized deductions. Turbotax free state return They are not subject to the 2% limit. Turbotax free state return Report these items on Schedule A (Form 1040), line 28. Turbotax free state return List of Deductions Each of the following items is discussed in detail after the list (except where indicated). Turbotax free state return Amortizable premium on taxable bonds. Turbotax free state return Casualty and theft losses from income- producing property. Turbotax free state return Federal estate tax on income in respect of a decedent. Turbotax free state return Gambling losses up to the amount of gambling winnings. Turbotax free state return Impairment-related work expenses of persons with disabilities. Turbotax free state return Loss from other activities from Schedule K-1 (Form 1065-B), box 2. Turbotax free state return Losses from Ponzi-type investment schemes. Turbotax free state return See Losses from Ponzi-type investment schemes under Theft in chapter 25. Turbotax free state return Repayments of more than $3,000 under a claim of right. Turbotax free state return Unrecovered investment in an annuity. Turbotax free state return Amortizable Premium on Taxable Bonds In general, if the amount you pay for a bond is greater than its stated principal amount, the excess is bond premium. Turbotax free state return You can elect to amortize the premium on taxable bonds. Turbotax free state return The amortization of the premium is generally an offset to interest income on the bond rather than a separate deduction item. Turbotax free state return Part of the premium on some bonds may be a miscellaneous deduction not subject to the 2% limit. Turbotax free state return For more information, see Amortizable Premium on Taxable Bonds in Publication 529, and Bond Premium Amortization in chapter 3 of Publication 550, Investment Income and Expenses. Turbotax free state return Casualty and Theft Losses of Income-Producing Property You can deduct a casualty or theft loss as a miscellaneous itemized deduction not subject to the 2% limit if the damaged or stolen property was income-producing property (property held for investment, such as stocks, notes, bonds, gold, silver, vacant lots, and works of art). Turbotax free state return First, report the loss in Form 4684, Section B. Turbotax free state return You may also have to include the loss on Form 4797, Sales of Business Property if you are otherwise required to file that form. Turbotax free state return To figure your deduction, add all casualty or theft losses from this type of property included on Form 4684, lines 32 and 38b, or Form 4797, line 18a. Turbotax free state return For more information on casualty and theft losses, see chapter 25. Turbotax free state return Federal Estate Tax on Income in Respect of a Decedent You can deduct the federal estate tax attributable to income in respect of a decedent that you as a beneficiary include in your gross income. Turbotax free state return Income in respect of the decedent is gross income that the decedent would have received had death not occurred and that was not properly includible in the decedent's final income tax return. Turbotax free state return See Publication 559 for more information. Turbotax free state return Gambling Losses Up to the Amount of Gambling Winnings You must report the full amount of your gambling winnings for the year on Form 1040, line 21. Turbotax free state return You deduct your gambling losses for the year on Schedule A (Form 1040), line 28. Turbotax free state return You cannot deduct gambling losses that are more than your winnings. Turbotax free state return You cannot reduce your gambling winnings by your gambling losses and report the difference. Turbotax free state return You must report the full amount of your winnings as income and claim your losses (up to the amount of winnings) as an itemized deduction. Turbotax free state return Therefore, your records should show your winnings separately from your losses. Turbotax free state return Diary of winnings and losses. Turbotax free state return You must keep an accurate diary or similar record of your losses and winnings. Turbotax free state return Your diary should contain at least the following information. Turbotax free state return The date and type of your specific wager or wagering activity. Turbotax free state return The name and address or location of the gambling establishment. Turbotax free state return The names of other persons present with you at the gambling establishment. Turbotax free state return The amount(s) you won or lost. Turbotax free state return See Publication 529 for more information. Turbotax free state return Impairment-Related Work Expenses If you have a physical or mental disability that limits your being employed, or substantially limits one or more of your major life activities, such as performing manual tasks, walking, speaking, breathing, learning, and working, you can deduct your impairment-related work expenses. Turbotax free state return Impairment-related work expenses are ordinary and necessary business expenses for attendant care services at your place of work and for other expenses in connection with your place of work that are necessary for you to be able to work. Turbotax free state return Self-employed. Turbotax free state return   If you are self-employed, enter your impairment-related work expenses on the appropriate form (Schedule C, C-EZ, E, or F) used to report your business income and expenses. Turbotax free state return Loss From Other Activities From Schedule K-1 (Form 1065-B), Box 2 If the amount reported in Schedule K-1 (Form 1065-B), box 2, is a loss, report it on Schedule A (Form 1040), line 28. Turbotax free state return It is not subject to the passive activity limitations. Turbotax free state return Repayments Under Claim of Right If you had to repay more than $3,000 that you included in your income in an earlier year because at the time you thought you had an unrestricted right to it, you may be able to deduct the amount you repaid or take a credit against your tax. Turbotax free state return See Repayments in chapter 12 for more information. Turbotax free state return Unrecovered Investment in Annuity A retiree who contributed to the cost of an annuity can exclude from income a part of each payment received as a tax-free return of the retiree's investment. Turbotax free state return If the retiree dies before the entire investment is recovered tax free, any unrecovered investment can be deducted on the retiree's final income tax return. Turbotax free state return See chapter 10 for more information about the tax treatment of pensions and annuities. Turbotax free state return Nondeductible Expenses Examples of nondeductible expenses are listed next. Turbotax free state return The list is followed by discussions of additional nondeductible expenses. Turbotax free state return List of Nondeductible Expenses Broker's commissions that you paid in connection with your IRA or other investment property. Turbotax free state return Burial or funeral expenses, including the cost of a cemetery lot. Turbotax free state return Capital expenses. Turbotax free state return Fees and licenses, such as car licenses, marriage licenses, and dog tags. Turbotax free state return Hobby losses, but see Hobby Expenses , earlier. Turbotax free state return Home repairs, insurance, and rent. Turbotax free state return Illegal bribes and kickbacks. Turbotax free state return See Bribes and kickbacks in chapter 11 of Publication 535. Turbotax free state return Losses from the sale of your home, furniture, personal car, etc. Turbotax free state return Personal disability insurance premiums. Turbotax free state return Personal, living, or family expenses. Turbotax free state return The value of wages never received or lost vacation time. Turbotax free state return Adoption Expenses You cannot deduct the expenses of adopting a child, but you may be able to take a credit for those expenses. Turbotax free state return See chapter 37. Turbotax free state return Campaign Expenses You cannot deduct campaign expenses of a candidate for any office, even if the candidate is running for reelection to the office. Turbotax free state return These include qualification and registration fees for primary elections. Turbotax free state return Legal fees. Turbotax free state return   You cannot deduct legal fees paid to defend charges that arise from participation in a political campaign. Turbotax free state return Check-Writing Fees on Personal Account If you have a personal checking account, you cannot deduct fees charged by the bank for the privilege of writing checks, even if the account pays interest. Turbotax free state return Club Dues Generally, you cannot deduct the cost of membership in any club organized for business, pleasure, recreation, or other social purpose. Turbotax free state return This includes business, social, athletic, luncheon, sporting, airline, hotel, golf, and country clubs. Turbotax free state return You cannot deduct dues paid to an organization if one of its main purposes is to: Conduct entertainment activities for members or their guests, or Provide members or their guests with access to entertainment facilities. Turbotax free state return Dues paid to airline, hotel, and luncheon clubs are not deductible. Turbotax free state return Commuting Expenses You cannot deduct commuting expenses (the cost of transportation between your home and your main or regular place of work). Turbotax free state return If you haul tools, instruments, or other items, in your car to and from work, you can deduct only the additional cost of hauling the items such as the rent on a trailer to carry the items. Turbotax free state return Fines or Penalties You cannot deduct fines or penalties you pay to a governmental unit for violating a law. Turbotax free state return This includes an amount paid in settlement of your actual or potential liability for a fine or penalty (civil or criminal). Turbotax free state return Fines or penalties include parking tickets, tax penalties, and penalties deducted from teachers' paychecks after an illegal strike. Turbotax free state return Health Spa Expenses You cannot deduct health spa expenses, even if there is a job requirement to stay in excellent physical condition, such as might be required of a law enforcement officer. Turbotax free state return Home Security System You cannot deduct the cost of a home security system as a miscellaneous deduction. Turbotax free state return However, you may be able to claim a deduction for a home security system as a business expense if you have a home office. Turbotax free state return See Home Office under Unreimbursed Employee Expenses, earlier, and Security System under Deducting Expenses in Publication 587. Turbotax free state return Investment-Related Seminars You cannot deduct any expenses for attending a convention, seminar, or similar meeting for investment purposes. Turbotax free state return Life Insurance Premiums You cannot deduct premiums you pay on your life insurance. Turbotax free state return You may be able to deduct, as alimony, premiums you pay on life insurance policies assigned to your former spouse. Turbotax free state return See chapter 18 for information on alimony. Turbotax free state return Lobbying Expenses You generally cannot deduct amounts paid or incurred for lobbying expenses. Turbotax free state return These include expenses to: Influence legislation, Participate or intervene in any political campaign for, or against, any candidate for public office, Attempt to influence the general public, or segments of the public, about elections, legislative matters, or referendums, or Communicate directly with covered executive branch officials in any attempt to influence the official actions or positions of those officials. Turbotax free state return Lobbying expenses also include any amounts paid or incurred for research, preparation, planning, or coordination of any of these activities. Turbotax free state return Dues used for lobbying. Turbotax free state return   If a tax-exempt organization notifies you that part of the dues or other amounts you pay to the organization are used to pay nondeductible lobbying expenses, you cannot deduct that part. Turbotax free state return See Lobbying Expenses in Publication 529 for information on exceptions. Turbotax free state return Lost or Mislaid Cash or Property You cannot deduct a loss based on the mere disappearance of money or property. Turbotax free state return However, an accidental loss or disappearance of property can qualify as a casualty if it results from an identifiable event that is sudden, unexpected, or unusual. Turbotax free state return See chapter 25. Turbotax free state return Example. Turbotax free state return A car door is accidentally slammed on your hand, breaking the setting of your diamond ring. Turbotax free state return The diamond falls from the ring and is never found. Turbotax free state return The loss of the diamond is a casualty. Turbotax free state return Lunches with Co-workers You cannot deduct the expenses of lunches with co-workers, except while traveling away from home on business. Turbotax free state return See chapter 26 for information on deductible expenses while traveling away from home. Turbotax free state return Meals While Working Late You cannot deduct the cost of meals while working late. Turbotax free state return However, you may be able to claim a deduction if the cost of meals is a deductible entertainment expense, or if you are traveling away from home. Turbotax free state return See chapter 26 for information on deductible entertainment expenses and expenses while traveling away from home. Turbotax free state return Personal Legal Expenses You cannot deduct personal legal expenses such as those for the following. Turbotax free state return Custody of children. Turbotax free state return Breach of promise to marry suit. Turbotax free state return Civil or criminal charges resulting from a personal relationship. Turbotax free state return Damages for personal injury, except for certain unlawful discrimination and whistleblower claims. Turbotax free state return Preparation of a title (or defense or perfection of a title). Turbotax free state return Preparation of a will. Turbotax free state return Property claims or property settlement in a divorce. Turbotax free state return You cannot deduct these expenses even if a result of the legal proceeding is the loss of income-producing property. Turbotax free state return Political Contributions You cannot deduct contributions made to a political candidate, a campaign committee, or a newsletter fund. Turbotax free state return Advertisements in convention bulletins and admissions to dinners or programs that benefit a political party or political candidate are not deductible. Turbotax free state return Professional Accreditation Fees You cannot deduct professional accreditation fees such as the following. Turbotax free state return Accounting certificate fees paid for the initial right to practice accounting. Turbotax free state return Bar exam fees and incidental expenses in securing initial admission to the bar. Turbotax free state return Medical and dental license fees paid to get initial licensing. Turbotax free state return Professional Reputation You cannot deduct expenses of radio and TV appearances to increase your personal prestige or establish your professional reputation. Turbotax free state return Relief Fund Contributions You cannot deduct contributions paid to a private plan that pays benefits to any covered employee who cannot work because of any injury or illness not related to the job. Turbotax free state return Residential Telephone Service You cannot deduct any charge (including taxes) for basic local telephone service for the first telephone line to your residence, even if it is used in a trade or business. Turbotax free state return Stockholders' Meetings You cannot deduct transportation and other expenses you pay to attend stockholders' meetings of companies in which you own stock but have no other interest. Turbotax free state return You cannot deduct these expenses even if you are attending the meeting to get information that would be useful in making further investments. Turbotax free state return Tax-Exempt Income Expenses You cannot deduct expenses to produce tax-exempt income. Turbotax free state return You cannot deduct interest on a debt incurred or continued to buy or carry  tax-exempt securities. Turbotax free state return If you have expenses to produce both taxable and tax-exempt income, but you cannot identify the expenses that produce each type of income, you must divide the expenses based on the amount of each type of income to determine the amount that you can deduct. Turbotax free state return Example. Turbotax free state return During the year, you received taxable interest of $4,800 and tax-exempt interest of $1,200. Turbotax free state return In earning this income, you had total expenses of $500 during the year. Turbotax free state return You cannot identify the amount of each expense item that is for each income item. Turbotax free state return Therefore, 80% ($4,800/$6,000) of the expense is for the taxable interest and 20% ($1,200/$6,000) is for the tax-exempt interest. Turbotax free state return You can deduct, subject to the 2% limit, expenses of $400 (80% of $500). Turbotax free state return Travel Expenses for Another Individual You generally cannot deduct travel expenses you pay or incur for a spouse, dependent, or other individual who accompanies you (or your employee) on business or personal travel unless the spouse, dependent, or other individual is an employee of the taxpayer, the travel is for a bona fide business purpose, and such expenses would otherwise be deductible by the spouse, dependent, or other individual. Turbotax free state return See chapter 26 for more information on deductible travel expenses. Turbotax free state return Voluntary Unemployment Benefit Fund Contributions You cannot deduct voluntary unemployment benefit fund contributions you make to a union fund or a private fund. Turbotax free state return However, you can deduct contributions as taxes if state law requires you to make them to a state unemployment fund that covers you for the loss of wages from unemployment caused by business conditions. Turbotax free state return Wristwatches You cannot deduct the cost of a wristwatch, even if there is a job requirement that you know the correct time to properly perform your duties. Turbotax free state return Prev  Up  Next   Home   More Online Publications
Español

Defense and International Relations: Online Services

Online resources pertaining to defense and international relations.

The Turbotax Free State Return

Turbotax free state return 3. Turbotax free state return   Environmental Taxes Table of Contents Oil Spill Liability Tax ODCs Imported Taxable Products Floor Stocks Tax Environmental taxes are imposed on crude oil and petroleum products (oil spill liability), the sale or use of ozone-depleting chemicals (ODCs), and imported products containing or manufactured with ODCs. Turbotax free state return In addition, a floor stocks tax is imposed on ODCs held on January 1 by any person (other than the manufacturer or importer of the ODCs) for sale or for use in further manufacture. Turbotax free state return Figure the environmental tax on Form 6627. Turbotax free state return Enter the tax on the appropriate lines of Form 720 and attach Form 6627 to Form 720. Turbotax free state return For environmental tax purposes, United States includes the 50 states, the District of Columbia, the Commonwealth of Puerto Rico, any possession of the United States, the Commonwealth of the Northern Mariana Islands, the Trust Territory of the Pacific Islands, the continental shelf areas (applying the principles of section 638), and foreign trade zones. Turbotax free state return No one is exempt from the environmental taxes, including the federal government, state and local governments, Indian tribal governments, and nonprofit educational organizations. Turbotax free state return Oil Spill Liability Tax The oil spill liability tax is reported on Form 6627, Environmental Taxes, and Form 720, Quarterly Federal Excise Tax Return (IRS Nos. Turbotax free state return 18 and 21). Turbotax free state return The oil spill liability tax rate is $. Turbotax free state return 08 per barrel and generally applies to crude oil received at a U. Turbotax free state return S. Turbotax free state return refinery and to petroleum products entered into the United States for consumption, use, or warehousing. Turbotax free state return The tax also applies to certain uses and the exportation of domestic crude oil. Turbotax free state return Crude oil includes crude oil condensates and natural gasoline. Turbotax free state return Petroleum products include crude oil, refined and residual oil, and other liquid hydrocarbon refinery products. Turbotax free state return Crude oil. Turbotax free state return   Tax is imposed on crude oil when it is received at a United Sates refinery. Turbotax free state return The operator of the refinery is liable for the tax. Turbotax free state return   Tax is imposed on domestic crude oil used or exported before it is received at a United States refinery. Turbotax free state return However, the use of crude oil for extracting oil or natural gas on the premises where such crude oil was produced is not taxable. Turbotax free state return The user or exporter is liable for the tax. Turbotax free state return Imported petroleum products. Turbotax free state return   Tax is imposed on petroleum products when they enter the United States for consumption, use, or warehousing. Turbotax free state return The person entering the petroleum product into the country is liable for the tax, including the tax on imported crude oil, even if it is subsequently received at a U. Turbotax free state return S. Turbotax free state return refinery. Turbotax free state return   Tax is imposed only once on any imported petroleum product. Turbotax free state return Thus, the operator of a U. Turbotax free state return S. Turbotax free state return refinery that receives imported crude oil must establish that the petroleum tax has already been imposed on such crude oil in order not to be liable for the tax. Turbotax free state return ODCs For a list of the taxable ODCs and tax rates, see the Form 6627 instructions. Turbotax free state return Taxable event. Turbotax free state return   Tax is imposed on an ODC when it is first used or sold by its manufacturer or importer. Turbotax free state return The manufacturer or importer is liable for the tax. Turbotax free state return Use of ODCs. Turbotax free state return   You use an ODC if you put it into service in a trade or business or for the production of income. Turbotax free state return Also, an ODC is used if you use it in the making of an article, including incorporation into the article, chemical transformation, or release into the air. Turbotax free state return The loss, destruction, packaging, repackaging, or warehousing of ODCs is not a use of the ODC. Turbotax free state return   The creation of a mixture containing an ODC is treated as a taxable use of the ODC contained in the mixture. Turbotax free state return An ODC is contained in a mixture only if the chemical identity of the ODC is not changed. Turbotax free state return Generally, tax is imposed when the mixture is created and not on its sale or use. Turbotax free state return However, you can choose to have the tax imposed on its sale or use by checking the appropriate box on Form 6627. Turbotax free state return You can revoke this choice only with IRS consent. Turbotax free state return   The creation of a mixture for export or for use as a feedstock is not a taxable use of the ODCs contained in the mixture. Turbotax free state return Exceptions. Turbotax free state return   The following may be exempt from the tax on ODCs. Turbotax free state return Metered-dose inhalers. Turbotax free state return Recycled ODCs. Turbotax free state return Exported ODCs. Turbotax free state return ODCs used as feedstock. Turbotax free state return Metered-dose inhalers. Turbotax free state return   There is no tax on ODCs used or sold for use as propellants in metered-dose inhalers. Turbotax free state return For a sale to be nontaxable, you must obtain from the purchaser an exemption certificate that you rely on in good faith. Turbotax free state return The certificate must be in substantially the form as the sample certificate set forth in Regulations section 52. Turbotax free state return 4682-2(d)(5). Turbotax free state return The certificate may be included as part of the sales documentation. Turbotax free state return Keep the certificate with your records. Turbotax free state return Recycled ODCs. Turbotax free state return   There is no tax on any ODC diverted or recovered in the United States as part of a recycling process (and not as part of the original manufacturing or production process). Turbotax free state return There is no tax on recycled Halon-1301 or recycled Halon-2402 imported from a country that has signed the Montreal Protocol on Substances that Deplete the Ozone Layer (Montreal Protocol). Turbotax free state return   The Montreal Protocol is administered by the United Nations (U. Turbotax free state return N. Turbotax free state return ). Turbotax free state return To determine if a country has signed the Montreal Protocol, contact the U. Turbotax free state return N. Turbotax free state return The website is untreaty. Turbotax free state return un. Turbotax free state return org. Turbotax free state return Exported ODCs. Turbotax free state return   Generally, there is no tax on ODCs sold for export if certain requirements are met. Turbotax free state return For a sale to be nontaxable, you and the purchaser must be registered. Turbotax free state return See Form 637, Application for Registration (for Certain Excise Tax Activities). Turbotax free state return Also, you must obtain from the purchaser an exemption certificate that you rely on in good faith. Turbotax free state return Keep the certificate with your records. Turbotax free state return The certificate must be in substantially the form as the sample certificate set forth in Regulations section 52. Turbotax free state return 4682-5(d)(3). Turbotax free state return The tax benefit of this exemption is limited. Turbotax free state return For more information, see Regulations section 52. Turbotax free state return 4682-5. Turbotax free state return ODCs used as feedstock. Turbotax free state return   There is no tax on ODCs sold for use or used as a feedstock. Turbotax free state return An ODC is used as a feedstock only if the ODC is entirely consumed in the manufacture of another chemical. Turbotax free state return The transformation of an ODC into one or more new compounds qualifies as use as a feedstock, but use of an ODC in a mixture does not qualify. Turbotax free state return   For a sale to be nontaxable, you must obtain from the purchaser an exemption certificate that you rely on in good faith. Turbotax free state return The certificate must be in substantially the form as the sample certificate set forth in Regulations section 52. Turbotax free state return 4682-2(d)(2). Turbotax free state return Keep the certificate with your records. Turbotax free state return Credits or refunds. Turbotax free state return   A credit or refund (without interest) of tax paid on ODCs may be claimed if a taxed ODC is: Used as a propellant in a metered-dose inhaler (the person who used the ODC as a propellant may file a claim), Exported (the manufacturer may file a claim), or Used as a feedstock (the person who used the ODC may file a claim). Turbotax free state return For information on how to file for credits or refunds, see the Instructions for Form 720 or Schedule 6 (Form 8849). Turbotax free state return Conditions to allowance for ODCs exported. Turbotax free state return   To claim a credit or refund for ODCs that are exported, you must have repaid or agreed to repay the tax to the exporter, or obtained the exporter's written consent to allowance of the credit or refund. Turbotax free state return You must also have the evidence required by the EPA as proof that the ODCs were exported. Turbotax free state return Imported Taxable Products An imported product containing or manufactured with ODCs is subject to tax if it is entered into the United States for consumption, use, or warehousing and is listed in the Imported Products Table. Turbotax free state return The Imported Products Table is listed in Regulations section 52. Turbotax free state return 4682-3(f)(6). Turbotax free state return The tax is based on the weight of the ODCs used in the manufacture of the product. Turbotax free state return Use the following methods to figure the ODC weight. Turbotax free state return The actual (exact) weight of each ODC used as a material in manufacturing the product. Turbotax free state return If the actual weight cannot be determined, the ODC weight listed for the product in the Imported Products Table. Turbotax free state return However, if you cannot determine the actual weight and the table does not list an ODC weight for the product, the rate of tax is 1% of the entry value of the product. Turbotax free state return Taxable event. Turbotax free state return   Tax is imposed on an imported taxable product when the product is first sold or used by its importer. Turbotax free state return The importer is liable for the tax. Turbotax free state return Use of imported products. Turbotax free state return   You use an imported product if you put it into service in a trade or business or for the production of income or use it in the making of an article, including incorporation into the article. Turbotax free state return The loss, destruction, packaging, repackaging, warehousing, or repair of an imported product is not a use of that product. Turbotax free state return Entry as use. Turbotax free state return   The importer may choose to treat the entry of a product into the United States as the use of the product. Turbotax free state return Tax is imposed on the date of entry instead of when the product is sold or used. Turbotax free state return The choice applies to all imported taxable products that you own and have not used when you make the choice and all later entries. Turbotax free state return Make the choice by checking the box in Part II of Form 6627. Turbotax free state return The choice is effective as of the beginning of the calendar quarter to which the Form 6627 applies. Turbotax free state return You can revoke this choice only with IRS consent. Turbotax free state return Sale of article incorporating imported product. Turbotax free state return   The importer may treat the sale of an article manufactured or assembled in the United States as the first sale or use of an imported taxable product incorporated in that article if both the following apply. Turbotax free state return The importer has consistently treated the sale of similar items as the first sale or use of similar taxable imported products. Turbotax free state return The importer has not chosen to treat entry into the United States as use of the product. Turbotax free state return Imported products table. Turbotax free state return   The table lists all the products that are subject to the tax on imported taxable products and specifies the ODC weight (discussed later) of each product. Turbotax free state return   Each listing in the table identifies a product by name and includes only products that are described by that name. Turbotax free state return Most listings identify a product by both name and Harmonized Tariff Schedule (HTS) heading. Turbotax free state return In those cases, a product is included in that listing only if the product is described by that name and the rate of duty on the product is determined by reference to that HTS heading. Turbotax free state return A product is included in the listing even if it is manufactured with or contains a different ODC than the one specified in the table. Turbotax free state return   Part II of the table lists electronic items that are not included within any other list in the table. Turbotax free state return An imported product is included in this list only if the product meets one of the following tests. Turbotax free state return It is an electronic component whose operation involves the use of nonmechanical amplification or switching devices such as tubes, transistors, and integrated circuits. Turbotax free state return It contains components described in (1), which account for more than 15% of the cost of the product. Turbotax free state return   These components do not include passive electrical devices, such as resistors and capacitors. Turbotax free state return Items such as screws, nuts, bolts, plastic parts, and similar specially fabricated parts that may be used to construct an electronic item are not themselves included in the listing for electronic items. Turbotax free state return Rules for listing products. Turbotax free state return   Products are listed in the table according to the following rules. Turbotax free state return A product is listed in Part I of the table if it is a mixture containing ODCs. Turbotax free state return A product is listed in Part II of the table if the Commissioner has determined that the ODCs used as materials in the manufacture of the product under the predominant method are used for purposes of refrigeration or air conditioning, creating an aerosol or foam, or manufacturing electronic components. Turbotax free state return A product is listed in Part III of the table if the Commissioner has determined that the product meets both the following tests. Turbotax free state return It is not an imported taxable product. Turbotax free state return It would otherwise be included within a list in Part II of the table. Turbotax free state return   For example, floppy disk drive units are listed in Part III because they are not imported taxable products and would have been included in the Part II list for electronic items not specifically identified, but for their listing in Part III. Turbotax free state return ODC weight. Turbotax free state return   The Table ODC weight of a product is the weight, determined by the Commissioner, of the ODCs used as materials in the manufacture of the product under the predominant method of manufacturing. Turbotax free state return The ODC weight is listed in Part II in pounds per single unit of product unless otherwise specified. Turbotax free state return Modifying the table. Turbotax free state return   A manufacturer or importer of a product may request the IRS add a product and its ODC weight to the table. Turbotax free state return They also may request the IRS remove a product from the table, or change or specify the ODC weight of a product. Turbotax free state return To request a modification, see Regulations section 52. Turbotax free state return 4682-3(g) for the mailing address and information that must be included in the request. Turbotax free state return Floor Stocks Tax Tax is imposed on any ODC held (other than by the manufacturer or importer of the ODC) on January 1 for sale or use in further manufacturing. Turbotax free state return The person holding title (as determined under local law) to the ODC is liable for the tax, whether or not delivery has been made. Turbotax free state return These chemicals are taxable without regard to the type or size of storage container in which the ODCs are held. Turbotax free state return The tax may apply to an ODC whether it is in a 14-ounce can or a 30-pound tank. Turbotax free state return You are liable for the floor stocks tax if you hold any of the following on January 1. Turbotax free state return At least 400 pounds of ODCs other than halons or methyl chloroform, At least 50 pounds of halons, or At least 1,000 pounds of methyl chloroform. Turbotax free state return If you are liable for the tax, prepare an inventory on January 1 of the taxable ODCs held on that date for sale or for use in further manufacturing. Turbotax free state return You must pay this floor stocks tax by June 30 of each year. Turbotax free state return Report the tax on Form 6627 and Part II of Form 720 for the second calendar quarter. Turbotax free state return For the tax rates, see the Form 6627 instructions. Turbotax free state return ODCs not subject to floor stocks tax. Turbotax free state return   The floor stocks tax is not imposed on any of the following ODCs. Turbotax free state return ODCs mixed with other ingredients that contribute to achieving the purpose for which the mixture will be used, unless the mixture contains only ODCs and one or more stabilizers. Turbotax free state return ODCs contained in a manufactured article in which the ODCs will be used for their intended purpose without being released from the article. Turbotax free state return ODCs that have been reclaimed or recycled. Turbotax free state return ODCs sold in a qualifying sale for: Use as a feedstock, Export, or Use as a propellant in a metered-dose inhaler. Turbotax free state return Prev  Up  Next   Home   More Online Publications