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Can I File 2010 Taxes Online

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Can I File 2010 Taxes Online

Can i file 2010 taxes online 4. Can i file 2010 taxes online   Farm Business Expenses Table of Contents What's New for 2013 Introduction Topics - This chapter discusses: Useful Items - You may want to see: Deductible ExpensesReasonable allocation. Can i file 2010 taxes online Prepaid Farm Supplies Prepaid Livestock Feed Labor Hired Repairs and Maintenance Interest Breeding Fees Fertilizer and Lime Taxes Insurance Rent and Leasing Depreciation Business Use of Your Home Truck and Car Expenses Travel Expenses Marketing Quota Penalties Tenant House Expenses Items Purchased for Resale Other Expenses Domestic Production Activities Deduction Capital ExpensesForestation and reforestation costs. Can i file 2010 taxes online Nondeductible ExpensesPersonal, Living, and Family Expenses Other Nondeductible Items Losses From Operating a FarmAt-Risk Limits Passive Activity Limits Excess Farm Loss Limit Not-for-Profit FarmingUsing the presumption later. Can i file 2010 taxes online Category 1. Can i file 2010 taxes online Category 2. Can i file 2010 taxes online Category 3. Can i file 2010 taxes online What's New for 2013 Standard mileage rate. Can i file 2010 taxes online  For 2013, the standard mileage rate for the cost of operating your car, van, pickup, or panel truck for each mile of business use is 56. Can i file 2010 taxes online 5 cents. Can i file 2010 taxes online See Truck and Car Expenses , later. Can i file 2010 taxes online Simplified method for business use of home deduction. Can i file 2010 taxes online  The IRS now provides a simplified method to determine your expenses for business use of your home. Can i file 2010 taxes online For more information, see Schedule C (Form 1040), Part II, and its instructions. Can i file 2010 taxes online Introduction You can generally deduct the current costs of operating your farm. Can i file 2010 taxes online Current costs are expenses you do not have to capitalize or include in inventory costs. Can i file 2010 taxes online However, your deduction for the cost of livestock feed and certain other supplies may be limited. Can i file 2010 taxes online If you have an operating loss, you may not be able to deduct all of it. Can i file 2010 taxes online Topics - This chapter discusses: Deductible expenses Domestic production activities deduction Capital expenses Nondeductible expenses Losses from operating a farm Not-for-profit farming Useful Items - You may want to see: Publication 463 Travel, Entertainment, Gift, and Car Expenses 535 Business Expenses 587 Business Use of Your Home 925 Passive Activity and At-Risk Rules 936 Home Mortgage Interest Deduction Form (and Instructions) Sch A (Form 1040) Itemized Deductions Sch F (Form 1040) Profit or Loss From Farming 1045 Application for Tentative Refund 5213 Election To Postpone Determination as To Whether the Presumption Applies That an Activity Is Engaged in for Profit 8903 Domestic Production Activities Deduction See chapter 16 for information about getting publications and forms. Can i file 2010 taxes online Deductible Expenses The ordinary and necessary costs of operating a farm for profit are deductible business expenses. Can i file 2010 taxes online “Ordinary” means what most farmers do and “necessary” means what is useful and helpful in farming. Can i file 2010 taxes online Schedule F, Part II, lists some common farm expenses that are typically deductible. Can i file 2010 taxes online This chapter discusses many of these expenses, as well as others not listed on Schedule F. Can i file 2010 taxes online Reimbursed expenses. Can i file 2010 taxes online   If the reimbursement is received in the same year that the expense is claimed, reduce the expense by the amount of the reimbursement. Can i file 2010 taxes online If the reimbursement is received in a year after the expense is claimed, include the reimbursement amount in income. Can i file 2010 taxes online See Refund or reimbursement under Income From Other Sources in chapter 3. Can i file 2010 taxes online Personal and business expenses. Can i file 2010 taxes online   Some expenses you pay during the tax year may be part personal and part business. Can i file 2010 taxes online These may include expenses for gasoline, oil, fuel, water, rent, electricity, telephone, automobile upkeep, repairs, insurance, interest, and taxes. Can i file 2010 taxes online   You must allocate these mixed expenses between their business and personal parts. Can i file 2010 taxes online Generally, the personal part of these expenses is not deductible. Can i file 2010 taxes online The business portion of the expenses is deductible on Schedule F. Can i file 2010 taxes online Example. Can i file 2010 taxes online You paid $1,500 for electricity during the tax year. Can i file 2010 taxes online You used 1/3 of the electricity for personal purposes and 2/3 for farming. Can i file 2010 taxes online Under these circumstances, you can deduct $1,000 (2/3 of $1,500) of your electricity expense as a farm business expense. Can i file 2010 taxes online Reasonable allocation. Can i file 2010 taxes online   It is not always easy to determine the business and nonbusiness parts of an expense. Can i file 2010 taxes online There is no method of allocation that applies to all mixed expenses. Can i file 2010 taxes online Any reasonable allocation is acceptable. Can i file 2010 taxes online What is reasonable depends on the circumstances in each case. Can i file 2010 taxes online Prepaid Farm Supplies Prepaid farm supplies include the following items if paid for during the year. Can i file 2010 taxes online Feed, seed, fertilizer, and similar farm supplies not used or consumed during the year, but not including farm supplies that you would have consumed during the year if not for a fire, storm, flood, other casualty, disease, or drought. Can i file 2010 taxes online Poultry (including egg-laying hens and baby chicks) bought for use (or for both use and resale) in your farm business. Can i file 2010 taxes online However, include only the amount that would be deductible in the following year if you had capitalized the cost and deducted it ratably over the lesser of 12 months or the useful life of the poultry. Can i file 2010 taxes online Poultry bought for resale and not resold during the year. Can i file 2010 taxes online Deduction limit. Can i file 2010 taxes online   If you use the cash method of accounting to report your income and expenses, your deduction for prepaid farm supplies in the year you pay for them may be limited to 50% of your other deductible farm expenses for the year (all Schedule F deductions except prepaid farm supplies). Can i file 2010 taxes online This limit does not apply if you meet one of the exceptions described later. Can i file 2010 taxes online See Chapter 2 for a discussion of the cash method of accounting. Can i file 2010 taxes online   If the limit applies, you can deduct the excess cost of farm supplies other than poultry in the year you use or consume the supplies. Can i file 2010 taxes online The excess cost of poultry bought for use (or for both use and resale) in your farm business is deductible in the year following the year you pay for it. Can i file 2010 taxes online The excess cost of poultry bought for resale is deductible in the year you sell or otherwise dispose of that poultry. Can i file 2010 taxes online Example. Can i file 2010 taxes online You may not qualify for the exception described next. Can i file 2010 taxes online During 2013, you bought fertilizer ($4,000), feed ($1,000), and seed ($500) for use on your farm in the following year. Can i file 2010 taxes online Your total prepaid farm supplies expense for 2013 is $5,500. Can i file 2010 taxes online Your other deductible farm expenses totaled $10,000 for 2013. Can i file 2010 taxes online Therefore, your deduction for prepaid farm supplies cannot be more than $5,000 (50% of $10,000) for 2013. Can i file 2010 taxes online The excess prepaid farm supplies expense of $500 ($5,500 − $5,000) is deductible in a later tax year when you use or consume the supplies. Can i file 2010 taxes online Exceptions. Can i file 2010 taxes online   This limit on the deduction for prepaid farm supplies expense does not apply if you are a farm-related taxpayer and either of the following apply. Can i file 2010 taxes online Your prepaid farm supplies expense is more than 50% of your other deductible farm expenses because of a change in business operations caused by unusual circumstances. Can i file 2010 taxes online Your total prepaid farm supplies expense for the preceding 3 tax years is less than 50% of your total other deductible farm expenses for those 3 tax years. Can i file 2010 taxes online   You are a farm-related taxpayer if any of the following tests apply. Can i file 2010 taxes online Your main home is on a farm. Can i file 2010 taxes online Your principal business is farming. Can i file 2010 taxes online A member of your family meets (1) or (2). Can i file 2010 taxes online For this purpose, your family includes your brothers and sisters, half-brothers and half-sisters, spouse, parents, grandparents, children, grandchildren, and aunts and uncles and their children. Can i file 2010 taxes online    Whether or not the deduction limit for prepaid farm supplies applies, your expenses for prepaid livestock feed may be subject to the rules for advance payment of livestock feed, discussed next. Can i file 2010 taxes online Prepaid Livestock Feed If you report your income and expenses under the cash method of accounting, you cannot deduct in the year paid the cost of feed your livestock will consume in a later year unless you meet all the following tests. Can i file 2010 taxes online The payment is for the purchase of feed rather than a deposit. Can i file 2010 taxes online The prepayment has a business purpose and is not merely for tax avoidance. Can i file 2010 taxes online Deducting the prepayment does not result in a material distortion of your income. Can i file 2010 taxes online If you meet all three tests, you can deduct the prepaid feed, subject to the limit on prepaid farm supplies discussed earlier. Can i file 2010 taxes online If you fail any of these tests, you can deduct the prepaid feed only in the year it is consumed. Can i file 2010 taxes online This rule does not apply to the purchase of commodity futures contracts. Can i file 2010 taxes online Payment for the purchase of feed. Can i file 2010 taxes online   Whether a payment is for the purchase of feed or a deposit depends on the facts and circumstances in each case. Can i file 2010 taxes online It is for the purchase of feed if you can show you made it under a binding commitment to accept delivery of a specific quantity of feed at a fixed price and you are not entitled, by contract or business custom, to a refund or repurchase. Can i file 2010 taxes online   The following are some factors that show a payment is a deposit rather than for the purchase of feed. Can i file 2010 taxes online The absence of specific quantity terms. Can i file 2010 taxes online The right to a refund of any unapplied payment credit at the end of the contract. Can i file 2010 taxes online The seller's treatment of the payment as a deposit. Can i file 2010 taxes online The right to substitute other goods or products for those specified in the contract. Can i file 2010 taxes online   A provision permitting substitution of ingredients to vary the particular feed mix to meet your livestock's current diet requirements will not suggest a deposit. Can i file 2010 taxes online Further, a price adjustment to reflect market value at the date of delivery is not, by itself, proof of a deposit. Can i file 2010 taxes online Business purpose. Can i file 2010 taxes online   The prepayment has a business purpose only if you have a reasonable expectation of receiving some business benefit from prepaying the cost of livestock feed. Can i file 2010 taxes online The following are some examples of business benefits. Can i file 2010 taxes online Fixing maximum prices and securing an assured feed supply. Can i file 2010 taxes online Securing preferential treatment in anticipation of a feed shortage. Can i file 2010 taxes online   Other factors considered in determining the existence of a business purpose are whether the prepayment was a condition imposed by the seller and whether that condition was meaningful. Can i file 2010 taxes online No material distortion of income. Can i file 2010 taxes online   The following are some factors considered in determining whether deducting prepaid livestock feed materially distorts income. Can i file 2010 taxes online Your customary business practice in conducting your livestock operations. Can i file 2010 taxes online The expense in relation to past purchases. Can i file 2010 taxes online The time of year you made the purchase. Can i file 2010 taxes online The expense in relation to your income for the year. Can i file 2010 taxes online Labor Hired You can deduct reasonable wages paid for regular farm labor, piecework, contract labor, and other forms of labor hired to perform your farming operations. Can i file 2010 taxes online You can pay wages in cash or in noncash items such as inventory, capital assets, or assets used in your business. Can i file 2010 taxes online The cost of boarding farm labor is a deductible labor cost. Can i file 2010 taxes online Other deductible costs you incur for farm labor include health insurance, workers' compensation insurance, and other benefits. Can i file 2010 taxes online If you must withhold social security, Medicare, and income taxes from your employees' cash wages, you can still deduct the full amount of wages before withholding. Can i file 2010 taxes online See chapter 13 for more information on employment taxes. Can i file 2010 taxes online Also, deduct the employer's share of the social security and Medicare taxes you must pay on your employees' wages as a farm business expense on Schedule F, line 29. Can i file 2010 taxes online See Taxes , later. Can i file 2010 taxes online Property for services. Can i file 2010 taxes online   If you transfer property to an employee in payment for services, you can deduct as wages paid the fair market value of the property on the date of transfer. Can i file 2010 taxes online If the employee pays you anything for the property, deduct as wages the fair market value of the property minus the payment by the employee for the property. Can i file 2010 taxes online   Treat the wages deducted as an amount received for the property. Can i file 2010 taxes online You may have a gain or loss to report if the property's adjusted basis on the date of transfer is different from its fair market value. Can i file 2010 taxes online Any gain or loss has the same character the exchanged property had in your hands. Can i file 2010 taxes online For more information, see chapter 8. Can i file 2010 taxes online Child as an employee. Can i file 2010 taxes online   You can deduct reasonable wages or other compensation you pay to your child for doing farmwork if a true employer-employee relationship exists between you and your child. Can i file 2010 taxes online Include these wages in the child's income. Can i file 2010 taxes online The child may have to file an income tax return. Can i file 2010 taxes online These wages may also be subject to social security and Medicare taxes if your child is age 18 or older. Can i file 2010 taxes online For more information, see Family Employees in chapter 13. Can i file 2010 taxes online    A Form W-2, Wage and Tax Statement, should be issued to the child employee. Can i file 2010 taxes online   The fact that your child spends the wages to buy clothes or other necessities you normally furnish does not prevent you from deducting your child's wages as a farm expense. Can i file 2010 taxes online The amount of wages paid to the child could cause a loss of the dependency exemption depending on how the child uses the money. Can i file 2010 taxes online Spouse as an employee. Can i file 2010 taxes online   You can deduct reasonable wages or other compensation you pay to your spouse if a true employer-employee relationship exists between you and your spouse. Can i file 2010 taxes online Wages you pay to your spouse are subject to social security and Medicare taxes. Can i file 2010 taxes online For more information, see Family Employees in chapter 13. Can i file 2010 taxes online Nondeductible Pay You cannot deduct wages paid for certain household work, construction work, and maintenance of your home. Can i file 2010 taxes online However, those wages may be subject to the employment taxes discussed in chapter 13. Can i file 2010 taxes online Household workers. Can i file 2010 taxes online   Do not deduct amounts paid to persons engaged in household work, except to the extent their services are used in boarding or otherwise caring for farm laborers. Can i file 2010 taxes online Construction labor. Can i file 2010 taxes online   Do not deduct wages paid to hired help for the construction of new buildings or other improvements. Can i file 2010 taxes online These wages are part of the cost of the building or other improvement. Can i file 2010 taxes online You must capitalize them. Can i file 2010 taxes online Maintaining your home. Can i file 2010 taxes online   If your farm employee spends time maintaining or repairing your home, the wages and employment taxes you pay for that work are nondeductible personal expenses. Can i file 2010 taxes online For example, assume you have a farm employee for the entire tax year and the employee spends 5% of the time maintaining your home. Can i file 2010 taxes online The employee devotes the remaining time to work on your farm. Can i file 2010 taxes online You cannot deduct 5% of the wages and employment taxes you pay for that employee. Can i file 2010 taxes online Employment Credits Reduce your deduction for wages by the amount of any employment credits you claim such as the work opportunity credit for qualified tax-exempt organizations hiring qualified veterans (Form 5884-C). Can i file 2010 taxes online Repairs and Maintenance You can deduct most expenses for the repair and maintenance of your farm property. Can i file 2010 taxes online Common items of repair and maintenance are repainting, replacing shingles and supports on farm buildings, and periodic or routine maintenance of trucks, tractors, and other farm machinery. Can i file 2010 taxes online However, repairs to, or overhauls of, depreciable property that substantially prolong the life of the property, increase its value, or adapt it to a different use are capital expenses. Can i file 2010 taxes online For example, if you repair the barn roof, the cost is deductible. Can i file 2010 taxes online But if you replace the roof, it is a capital expense. Can i file 2010 taxes online For more information, see Capital Expenses , later. Can i file 2010 taxes online Interest You can deduct as a farm business expense interest paid on farm mortgages and other obligations you incur in your farm business. Can i file 2010 taxes online Cash method. Can i file 2010 taxes online   If you use the cash method of accounting, you can generally deduct interest paid during the tax year. Can i file 2010 taxes online You cannot deduct interest paid with funds received from the original lender through another loan, advance, or other arrangement similar to a loan. Can i file 2010 taxes online You can, however, deduct the interest when you start making payments on the new loan. Can i file 2010 taxes online For more information, see Cash Method in chapter 2. Can i file 2010 taxes online Prepaid interest. Can i file 2010 taxes online   Under the cash method, you generally cannot deduct any interest paid before the year it is due. Can i file 2010 taxes online Interest paid in advance may be deducted only in the tax year in which it is due. Can i file 2010 taxes online Accrual method. Can i file 2010 taxes online   If you use an accrual method of accounting, you can deduct only interest that has accrued during the tax year. Can i file 2010 taxes online However, you cannot deduct interest owed to a related person who uses the cash method until payment is made and the interest is includible in the gross income of that person. Can i file 2010 taxes online For more information, see Accrual Method in chapter 2. Can i file 2010 taxes online Allocation of interest. Can i file 2010 taxes online   If you use the proceeds of a loan for more than one purpose, you must allocate the interest on that loan to each use. Can i file 2010 taxes online Allocate the interest to the following categories. Can i file 2010 taxes online Trade or business interest. Can i file 2010 taxes online Passive activity interest. Can i file 2010 taxes online Investment interest. Can i file 2010 taxes online Portfolio interest. Can i file 2010 taxes online Personal interest. Can i file 2010 taxes online   You generally allocate interest on a loan the same way you allocate the loan proceeds. Can i file 2010 taxes online You allocate loan proceeds by tracing disbursements to specific uses. Can i file 2010 taxes online The easiest way to trace disbursements to specific uses is to keep the proceeds of a particular loan separate from any other funds. Can i file 2010 taxes online Secured loan. Can i file 2010 taxes online   The allocation of loan proceeds and the related interest is generally not affected by the use of property that secures the loan. Can i file 2010 taxes online Example. Can i file 2010 taxes online You secure a loan with property used in your farming business. Can i file 2010 taxes online You use the loan proceeds to buy a car for personal use. Can i file 2010 taxes online You must allocate interest expense on the loan to personal use (purchase of the car) even though the loan is secured by farm business property. Can i file 2010 taxes online If the property that secures the loan is your home, you generally do not allocate the loan proceeds or the related interest. Can i file 2010 taxes online The interest is usually deductible as qualified home mortgage interest, regardless of how the loan proceeds are used. Can i file 2010 taxes online However, you can choose to treat the loan as not secured by your home. Can i file 2010 taxes online For more information, see Publication 936. Can i file 2010 taxes online Allocation period. Can i file 2010 taxes online   The period for which a loan is allocated to a particular use begins on the date the proceeds are used and ends on the earlier of the following dates. Can i file 2010 taxes online The date the loan is repaid. Can i file 2010 taxes online The date the loan is reallocated to another use. Can i file 2010 taxes online More information. Can i file 2010 taxes online   For more information on interest, see chapter 4 in Publication 535. Can i file 2010 taxes online Breeding Fees You can deduct breeding fees as a farm business expense. Can i file 2010 taxes online However, if you use an accrual method of accounting, you must capitalize breeding fees and allocate them to the cost basis of the calf, foal, etc. Can i file 2010 taxes online For more information on who must use an accrual method of accounting, see Accrual Method Required under Accounting Methods in chapter 2. Can i file 2010 taxes online Fertilizer and Lime You can deduct in the year paid or incurred the cost of fertilizer, lime, and other materials applied to farmland to enrich, neutralize, or condition it if the benefits last a year or less. Can i file 2010 taxes online You can also deduct the cost of applying these materials in the year you pay or incur it. Can i file 2010 taxes online However, see Prepaid Farm Supplies , earlier, for a rule that may limit your deduction for these materials. Can i file 2010 taxes online If the benefits of the fertilizer, lime, or other materials last substantially more than one year, you generally capitalize their cost and deduct a part each year the benefits last. Can i file 2010 taxes online However, you can choose to deduct these expenses in the year paid or incurred. Can i file 2010 taxes online If you make this choice, you will need IRS approval if you later decide to capitalize the cost of previously deducted items. Can i file 2010 taxes online If you sell farmland on which fertilizer or lime has been applied and if the selling price of the land includes part or all of the cost of the fertilizer or lime, you report the sale amount attributable to the fertilizer or lime as ordinary income. Can i file 2010 taxes online Farmland, for these purposes, is land used for producing crops, fruits, or other agricultural products or for sustaining livestock. Can i file 2010 taxes online It does not include land you have never used previously for producing crops or sustaining livestock. Can i file 2010 taxes online You cannot deduct initial land preparation costs. Can i file 2010 taxes online (See Capital Expenses , later. Can i file 2010 taxes online ) Include government payments you receive for lime or fertilizer in income. Can i file 2010 taxes online See Fertilizer and Lime under Agricultural Program Payments in chapter 3. Can i file 2010 taxes online Taxes You can deduct as a farm business expense the real estate and personal property taxes on farm business assets, such as farm equipment, animals, farmland, and farm buildings. Can i file 2010 taxes online You also can deduct the social security and Medicare taxes you pay to match the amount withheld from the wages of farm employees and any federal unemployment tax you pay. Can i file 2010 taxes online For information on employment taxes, see chapter 13. Can i file 2010 taxes online Allocation of taxes. Can i file 2010 taxes online   The taxes on the part of your farm you use as your home (including the furnishings and surrounding land not used for farming) are nonbusiness taxes. Can i file 2010 taxes online You may be able to deduct these nonbusiness taxes as itemized deductions on Schedule A (Form 1040). Can i file 2010 taxes online To determine the nonbusiness part, allocate the taxes between the farm assets and nonbusiness assets. Can i file 2010 taxes online The allocation can be done from the assessed valuations. Can i file 2010 taxes online If your tax statement does not show the assessed valuations, you can usually get them from the tax assessor. Can i file 2010 taxes online State and local general sales taxes. Can i file 2010 taxes online   State and local general sales taxes on nondepreciable farm business expense items are deductible as part of the cost of those items. Can i file 2010 taxes online Include state and local general sales taxes imposed on the purchase of assets for use in your farm business as part of the cost you depreciate. Can i file 2010 taxes online Also treat the taxes as part of your cost if they are imposed on the seller and passed on to you. Can i file 2010 taxes online State and federal income taxes. Can i file 2010 taxes online   Individuals cannot deduct state and federal income taxes as farm business expenses. Can i file 2010 taxes online Individuals can deduct state and local income taxes only as an itemized deduction on Schedule A (Form 1040). Can i file 2010 taxes online However, you cannot deduct federal income tax. Can i file 2010 taxes online Highway use tax. Can i file 2010 taxes online   You can deduct the federal use tax on highway motor vehicles paid on a truck or truck tractor used in your farm business. Can i file 2010 taxes online For information on the tax itself, including information on vehicles subject to the tax, see the Instructions for Form 2290, Heavy Highway Vehicle Use Tax Return. Can i file 2010 taxes online Self-employment tax deduction. Can i file 2010 taxes online   You can deduct as an adjustment to income on Form 1040 one-half of your self-employment tax in figuring your adjusted gross income. Can i file 2010 taxes online For more information, see chapter 12. Can i file 2010 taxes online Insurance You generally can deduct the ordinary and necessary cost of insurance for your farm business as a business expense. Can i file 2010 taxes online This includes premiums you pay for the following types of insurance. Can i file 2010 taxes online Fire, storm, crop, theft, liability, and other insurance on farm business assets. Can i file 2010 taxes online Health and accident insurance on your farm employees. Can i file 2010 taxes online Workers' compensation insurance set by state law that covers any claims for job-related bodily injuries or diseases suffered by employees on your farm, regardless of fault. Can i file 2010 taxes online Business interruption insurance. Can i file 2010 taxes online State unemployment insurance on your farm employees (deductible as taxes if they are considered taxes under state law). Can i file 2010 taxes online Insurance to secure a loan. Can i file 2010 taxes online   If you take out a policy on your life or on the life of another person with a financial interest in your farm business to get or protect a business loan, you cannot deduct the premiums as a business expense. Can i file 2010 taxes online In the event of death, the proceeds of the policy are not taxed as income even if they are used to liquidate the debt. Can i file 2010 taxes online Advance premiums. Can i file 2010 taxes online   Deduct advance payments of insurance premiums only in the year to which they apply, regardless of your accounting method. Can i file 2010 taxes online Example. Can i file 2010 taxes online On June 28, 2013, you paid a premium of $3,000 for fire insurance on your barn. Can i file 2010 taxes online The policy will cover a period of 3 years beginning on July 1, 2013. Can i file 2010 taxes online Only the cost for the 6 months in 2013 is deductible as an insurance expense on your 2013 calendar year tax return. Can i file 2010 taxes online Deduct $500, which is the premium for 6 months of the 36-month premium period, or 6/36 of $3,000. Can i file 2010 taxes online In both 2014 and 2015, deduct $1,000 (12/36 of $3,000). Can i file 2010 taxes online Deduct the remaining $500 in 2016. Can i file 2010 taxes online Had the policy been effective on January 1, 2013, the deductible expense would have been $1,000 for each of the years 2013, 2014, and 2015, based on one-third of the premium used each year. Can i file 2010 taxes online Business interruption insurance. Can i file 2010 taxes online   Use and occupancy and business interruption insurance premiums are deductible as a business expense. Can i file 2010 taxes online This insurance pays for lost profits if your business is shut down due to a fire or other cause. Can i file 2010 taxes online Report any proceeds in full on Schedule F, Part I. Can i file 2010 taxes online Self-employed health insurance deduction. Can i file 2010 taxes online   If you are self-employed, you can deduct as an adjustment to income on Form 1040 your payments for medical, dental, and qualified long-term care insurance coverage for yourself, your spouse, and your dependents when figuring your adjusted gross income on your Form 1040. Can i file 2010 taxes online Effective March 30, 2010, the insurance can also cover any child of yours under age 27 at the end of 2013, even if the child was not your dependent. Can i file 2010 taxes online Generally, this deduction cannot be more than the net profit from the business under which the plan was established. Can i file 2010 taxes online   If you or your spouse is also an employee of another person, you cannot take the deduction for any month in which you are eligible to participate in a subsidized health plan maintained by your employer or your spouse's employer. Can i file 2010 taxes online   Generally, use the Self-Employed Health Insurance Deduction Worksheet in the Instructions for Form 1040 to figure your deduction. Can i file 2010 taxes online Include the remaining part of the insurance payment in your medical expenses on Schedule A (Form 1040) if you itemize your deductions. Can i file 2010 taxes online   For more information, see Deductible Premiums in Publication 535, chapter 6. Can i file 2010 taxes online Rent and Leasing If you lease property for use in your farm business, you can generally deduct the rent you pay on Schedule F. Can i file 2010 taxes online However, you cannot deduct rent you pay in crop shares if you deduct the cost of raising the crops as farm expenses. Can i file 2010 taxes online Advance payments. Can i file 2010 taxes online   Deduct advance payments of rent only in the year to which they apply, regardless of your accounting method. Can i file 2010 taxes online Farm home. Can i file 2010 taxes online   If you rent a farm, do not deduct the part of the rental expense that represents the fair rental value of the farm home in which you live. Can i file 2010 taxes online Lease or Purchase If you lease a farm building or equipment, you must determine whether or not the agreement must be treated as a conditional sales contract rather than a lease. Can i file 2010 taxes online If the agreement is treated as a conditional sales contract, the payments under the agreement (so far as they do not represent interest or other charges) are payments for the purchase of the property. Can i file 2010 taxes online Do not deduct these payments as rent, but capitalize the cost of the property and recover this cost through depreciation. Can i file 2010 taxes online Conditional sales contract. Can i file 2010 taxes online   Whether an agreement is a conditional sales contract depends on the intent of the parties. Can i file 2010 taxes online Determine intent based on the provisions of the agreement and the facts and circumstances that exist when you make the agreement. Can i file 2010 taxes online No single test, or special combination of tests, always applies. Can i file 2010 taxes online However, in general, an agreement may be considered a conditional sales contract rather than a lease if any of the following is true. Can i file 2010 taxes online The agreement applies part of each payment toward an equity interest you will receive. Can i file 2010 taxes online You get title to the property after you make a stated amount of required payments. Can i file 2010 taxes online The amount you must pay to use the property for a short time is a large part of the amount you would pay to get title to the property. Can i file 2010 taxes online You pay much more than the current fair rental value of the property. Can i file 2010 taxes online You have an option to buy the property at a nominal price compared to the value of the property when you may exercise the option. Can i file 2010 taxes online Determine this value when you make the agreement. Can i file 2010 taxes online You have an option to buy the property at a nominal price compared to the total amount you have to pay under the agreement. Can i file 2010 taxes online The agreement designates part of the payments as interest, or part of the payments can be easily recognized as interest. Can i file 2010 taxes online Example. Can i file 2010 taxes online You lease new farm equipment from a dealer who both sells and leases. Can i file 2010 taxes online The agreement includes an option to purchase the equipment for a specified price. Can i file 2010 taxes online The lease payments and the specified option price equal the sales price of the equipment plus interest. Can i file 2010 taxes online Under the agreement, you are responsible for maintenance, repairs, and the risk of loss. Can i file 2010 taxes online For federal income tax purposes, the agreement is a conditional sales contract. Can i file 2010 taxes online You cannot deduct any of the lease payments as rent. Can i file 2010 taxes online You can deduct interest, repairs, insurance, depreciation, and other expenses related to the equipment. Can i file 2010 taxes online Motor vehicle leases. Can i file 2010 taxes online   Special rules apply to lease agreements that have a terminal rental adjustment clause. Can i file 2010 taxes online In general, this is a clause that provides for a rental price adjustment based on the amount the lessor is able to sell the vehicle for at the end of the lease. Can i file 2010 taxes online If your rental agreement contains a terminal rental adjustment clause, treat the agreement as a lease if the agreement otherwise qualifies as a lease. Can i file 2010 taxes online For more information, see Internal Revenue Code (IRC) section 7701(h). Can i file 2010 taxes online Leveraged leases. Can i file 2010 taxes online   Special rules apply to leveraged leases of equipment (arrangements in which the equipment is financed by a nonrecourse loan from a third party). Can i file 2010 taxes online For more information, see Publication 535, chapter 3, and Revenue Procedure 2001-28, which begins on page 1156 of Internal Revenue Bulletin 2001-19 at www. Can i file 2010 taxes online irs. Can i file 2010 taxes online gov/pub/irs-irbs/irb01-19. Can i file 2010 taxes online pdf. Can i file 2010 taxes online Depreciation If property you acquire to use in your farm business is expected to last more than one year, you generally cannot deduct the entire cost in the year you acquire it. Can i file 2010 taxes online You must recover the cost over more than one year and deduct part of it each year on Schedule F as depreciation or amortization. Can i file 2010 taxes online However, you can choose to deduct part or all of the cost of certain qualifying property, up to a limit, as a section 179 deduction in the year you place it in service. Can i file 2010 taxes online Depreciation, amortization, and the section 179 deduction are discussed in chapter 7. Can i file 2010 taxes online Business Use of Your Home You can deduct expenses for the business use of your home if you use part of your home exclusively and regularly: As the principal place of business for any trade or business in which you engage, As a place to meet or deal with patients, clients, or customers in the normal course of your trade or business, or In connection with your trade or business, if you are using a separate structure that is not attached to your home. Can i file 2010 taxes online Your home office will qualify as your principal place of business for deducting expenses for its use if you meet both of the following requirements. Can i file 2010 taxes online You use it exclusively and regularly for the administrative or management activities of your trade or business. Can i file 2010 taxes online You have no other fixed location where you conduct substantial administrative or management activities of your trade or business. Can i file 2010 taxes online If you use part of your home for business, you must divide the expenses of operating your home between personal and business use. Can i file 2010 taxes online The IRS now provides a simplified method to determine your expenses for business use of your home. Can i file 2010 taxes online For more information, see Schedule C (Form 1040), Part II, and its instructions. Can i file 2010 taxes online Deduction limit. Can i file 2010 taxes online   If your gross income from farming equals or exceeds your total farm expenses (including expenses for the business use of your home), you can deduct all your farm expenses. Can i file 2010 taxes online But if your gross income from farming is less than your total farm expenses, your deduction for certain expenses for the use of your home in your farming business is limited. Can i file 2010 taxes online   Your deduction for otherwise nondeductible expenses, such as utilities, insurance, and depreciation (with depreciation taken last), cannot be more than the gross income from farming minus the following expenses. Can i file 2010 taxes online The business part of expenses you could deduct even if you did not use your home for business (such as deductible mortgage interest, real estate taxes, and casualty and theft losses). Can i file 2010 taxes online Farm expenses other than expenses that relate to the use of your home. Can i file 2010 taxes online If you are self-employed, do not include your deduction for half of your self-employment tax. Can i file 2010 taxes online   Deductions over the current year's limit can be carried over to your next tax year. Can i file 2010 taxes online They are subject to the deduction limit for the next tax year. Can i file 2010 taxes online More information. Can i file 2010 taxes online   See Publication 587 for more information on deducting expenses for the business use of your home. Can i file 2010 taxes online Telephone expense. Can i file 2010 taxes online   You cannot deduct the cost of basic local telephone service (including any taxes) for the first telephone line you have in your home, even if you have an office in your home. Can i file 2010 taxes online However, charges for business long-distance phone calls on that line, as well as the cost of a second line into your home used exclusively for your farm business, are deductible business expenses. Can i file 2010 taxes online Cell phone charges for calls relating to your farm business are deductible. Can i file 2010 taxes online If the cell phone you use for your farm business is part of a family cell phone plan, you must allocate and deduct only the portion of the charges attributable to farm business calls. Can i file 2010 taxes online Truck and Car Expenses You can deduct the actual cost of operating a truck or car in your farm business. Can i file 2010 taxes online Only expenses for business use are deductible. Can i file 2010 taxes online These include such items as gasoline, oil, repairs, license tags, insurance, and depreciation (subject to certain limits). Can i file 2010 taxes online Standard mileage rate. Can i file 2010 taxes online   Instead of using actual costs, under certain conditions you can use the standard mileage rate. Can i file 2010 taxes online The standard mileage rate for each mile of business use is 56. Can i file 2010 taxes online 5 cents in 2013. Can i file 2010 taxes online You can use the standard mileage rate for a car or a light truck, such as a van, pickup, or panel truck, you own or lease. Can i file 2010 taxes online   You cannot use the standard mileage rate if you operate five or more cars or light trucks at the same time. Can i file 2010 taxes online You are not using five or more vehicles at the same time if you alternate using the vehicles (you use them at different times) for business. Can i file 2010 taxes online Example. Can i file 2010 taxes online Maureen owns a car and four pickup trucks that are used in her farm business. Can i file 2010 taxes online Her farm employees use the trucks and she uses the car for business. Can i file 2010 taxes online Maureen cannot use the standard mileage rate for the car or the trucks. Can i file 2010 taxes online This is because all five vehicles are used in Maureen's farm business at the same time. Can i file 2010 taxes online She must use actual expenses for all vehicles. Can i file 2010 taxes online Business use percentage. Can i file 2010 taxes online   You can claim 75% of the use of a car or light truck as business use without any records if you used the vehicle during most of the normal business day directly in connection with the business of farming. Can i file 2010 taxes online You choose this method of substantiating business use the first year the vehicle is placed in service. Can i file 2010 taxes online Once you make this choice, you may not change to another method later. Can i file 2010 taxes online The following are uses directly connected with the business of farming. Can i file 2010 taxes online Cultivating land. Can i file 2010 taxes online Raising or harvesting any agricultural or horticultural commodity. Can i file 2010 taxes online Raising, shearing, feeding, caring for, training, and managing animals. Can i file 2010 taxes online Driving to the feed or supply store. Can i file 2010 taxes online   If you keep records and they show that your business use was more than 75%, you may be able to claim more. Can i file 2010 taxes online See Recordkeeping requirements under Travel Expenses , below. Can i file 2010 taxes online More information. Can i file 2010 taxes online   For more information on deductible truck and car expenses, see Publication 463, chapter 4. Can i file 2010 taxes online If you pay your employees for the use of their truck or car in your farm business, see Reimbursements to employees under Travel Expenses next. Can i file 2010 taxes online Travel Expenses You can deduct ordinary and necessary expenses you incur while traveling away from home for your farm business. Can i file 2010 taxes online You cannot deduct lavish or extravagant expenses. Can i file 2010 taxes online Usually, the location of your farm business is considered your home for tax purposes. Can i file 2010 taxes online You are traveling away from home if: Your duties require you to be absent from your farm substantially longer than an ordinary work day, and You need to get sleep or rest to meet the demands of your work while away from home. Can i file 2010 taxes online If you meet these requirements and can prove the time, place, and business purpose of your travel, you can deduct your ordinary and necessary travel expenses. Can i file 2010 taxes online The following are some types of deductible travel expenses. Can i file 2010 taxes online Air, rail, bus, and car transportation; Meals and lodging; Dry cleaning and laundry; Telephone and fax; Transportation between your hotel and your temporary work or business meeting location; and Tips for any of the above expenses. Can i file 2010 taxes online Meals. Can i file 2010 taxes online   You ordinarily can deduct only 50% of your business-related meals expenses. Can i file 2010 taxes online You can deduct the cost of your meals while traveling on business only if your business trip is overnight or long enough to require you to stop for sleep or rest to properly perform your duties. Can i file 2010 taxes online You cannot deduct any of the cost of meals if it is not necessary for you to rest, unless you meet the rules for business entertainment. Can i file 2010 taxes online For information on entertainment expenses, see Publication 463, chapter 2. Can i file 2010 taxes online   The expense of a meal includes amounts you spend for your food, beverages, taxes, and tips relating to the meal. Can i file 2010 taxes online You can deduct either 50% of the actual cost or 50% of a standard meal allowance that covers your daily meal and incidental expenses. Can i file 2010 taxes online    Recordkeeping requirements. Can i file 2010 taxes online You must be able to prove your deductions for travel by adequate records or other evidence that will support your own statement. Can i file 2010 taxes online Estimates or approximations do not qualify as proof of an expense. Can i file 2010 taxes online   You should keep an account book or similar record, supported by adequate documentary evidence, such as receipts, that together support each element of an expense. Can i file 2010 taxes online Generally, it is best to record the expense and get documentation of it at the time you pay it. Can i file 2010 taxes online   If you choose to deduct a standard meal allowance rather than the actual expense, you do not have to keep records to prove amounts spent for meals and incidental items. Can i file 2010 taxes online However, you must still keep records to prove the actual amount of other travel expenses, and the time, place, and business purpose of your travel. Can i file 2010 taxes online More information. Can i file 2010 taxes online   For detailed information on travel, recordkeeping, and the standard meal allowance, see Publication 463. Can i file 2010 taxes online Reimbursements to employees. Can i file 2010 taxes online   You generally can deduct reimbursements you pay to your employees for travel and transportation expenses they incur in the conduct of your business. Can i file 2010 taxes online Employees may be reimbursed under an accountable or nonaccountable plan. Can i file 2010 taxes online Under an accountable plan, the employee must provide evidence of expenses. Can i file 2010 taxes online Under a nonaccountable plan, no evidence of expenses is required. Can i file 2010 taxes online If you reimburse expenses under an accountable plan, deduct them as travel and transportation expenses. Can i file 2010 taxes online If you reimburse expenses under a nonaccountable plan, you must report the reimbursements as wages on Form W-2 and deduct them as wages. Can i file 2010 taxes online For more information, see Publication 535, chapter 11. Can i file 2010 taxes online Marketing Quota Penalties You can deduct as Other expenses on Schedule F penalties you pay for marketing crops in excess of farm marketing quotas. Can i file 2010 taxes online However, if you do not pay the penalty, but instead the purchaser of your crop deducts it from the payment to you, include in gross income only the amount you received. Can i file 2010 taxes online Do not take a separate deduction for the penalty. Can i file 2010 taxes online Tenant House Expenses You can deduct the costs of maintaining houses and their furnishings for tenants or hired help as farm business expenses. Can i file 2010 taxes online These costs include repairs, utilities, insurance, and depreciation. Can i file 2010 taxes online The value of a dwelling you furnish to a tenant under the usual tenant-farmer arrangement is not taxable income to the tenant. Can i file 2010 taxes online Items Purchased for Resale If you use the cash method of accounting, you ordinarily deduct the cost of livestock and other items purchased for resale only in the year of sale. Can i file 2010 taxes online You deduct this cost, including freight charges for transporting the livestock to the farm, on Schedule F, Part I. Can i file 2010 taxes online However, see Chickens, seeds, and young plants , below. Can i file 2010 taxes online Example. Can i file 2010 taxes online You use the cash method of accounting. Can i file 2010 taxes online In 2013, you buy 50 steers you will sell in 2014. Can i file 2010 taxes online You cannot deduct the cost of the steers on your 2013 tax return. Can i file 2010 taxes online You deduct their cost on your 2014 Schedule F, Part I. Can i file 2010 taxes online Chickens, seeds, and young plants. Can i file 2010 taxes online   If you are a cash method farmer, you can deduct the cost of hens and baby chicks bought for commercial egg production, or for raising and resale, as an expense on Schedule F, Part I, in the year paid if you do it consistently and it does not distort income. Can i file 2010 taxes online You also can deduct the cost of seeds and young plants bought for further development and cultivation before sale as an expense on Schedule F, Part I, when paid if you do this consistently and you do not figure your income on the crop method. Can i file 2010 taxes online However, see Prepaid Farm Supplies , earlier, for a rule that may limit your deduction for these items. Can i file 2010 taxes online   If you deduct the cost of chickens, seeds, and young plants as an expense, report their entire selling price as income. Can i file 2010 taxes online You cannot also deduct the cost from the selling price. Can i file 2010 taxes online   You cannot deduct the cost of seeds and young plants for Christmas trees and timber as an expense. Can i file 2010 taxes online Deduct the cost of these seeds and plants through depletion allowances. Can i file 2010 taxes online For more information, see Depletion in chapter 7. Can i file 2010 taxes online   The cost of chickens and plants used as food for your family is never deductible. Can i file 2010 taxes online   Capitalize the cost of plants with a preproductive period of more than 2 years, unless you can elect out of the uniform capitalization rules. Can i file 2010 taxes online These rules are discussed in chapter 6. Can i file 2010 taxes online Example. Can i file 2010 taxes online You use the cash method of accounting. Can i file 2010 taxes online In 2013, you buy 500 baby chicks to raise for resale in 2014. Can i file 2010 taxes online You also buy 50 bushels of winter wheat seed in 2013 that you sow in the fall. Can i file 2010 taxes online Unless you previously adopted the method of deducting these costs in the year you sell the chickens or the harvested crops, you can deduct the cost of both the baby chicks and the seed wheat in 2013. Can i file 2010 taxes online Election to use crop method. Can i file 2010 taxes online   If you use the crop method, you can delay deducting the cost of seeds and young plants until you sell them. Can i file 2010 taxes online You must get IRS approval to use the crop method. Can i file 2010 taxes online If you follow this method, deduct the cost from the selling price to determine your profit on Schedule F, Part I. Can i file 2010 taxes online For more information, see Crop method under Special Methods of Accounting in chapter 2. Can i file 2010 taxes online Choosing a method. Can i file 2010 taxes online   You can adopt either the crop method or the cash method for deducting the cost in the first year you buy egg-laying hens, pullets, chicks, or seeds and young plants. Can i file 2010 taxes online   Although you must use the same method for egg-laying hens, pullets, and chicks, you can use a different method for seeds and young plants. Can i file 2010 taxes online Once you use a particular method for any of these items, use it for those items until you get IRS approval to change your method. Can i file 2010 taxes online For more information, see Change in Accounting Method in chapter 2. Can i file 2010 taxes online Other Expenses The following list, while not all-inclusive, shows some expenses you can deduct as other farm expenses on Schedule F, Part II. Can i file 2010 taxes online These expenses must be for business purposes and  (1) paid, if you use the cash method of accounting, or (2) incurred, if you use an accrual method of accounting. Can i file 2010 taxes online Accounting fees. Can i file 2010 taxes online Advertising. Can i file 2010 taxes online Business travel and meals. Can i file 2010 taxes online Commissions. Can i file 2010 taxes online Consultant fees. Can i file 2010 taxes online Crop scouting expenses. Can i file 2010 taxes online Dues to cooperatives. Can i file 2010 taxes online Educational expenses (to maintain and improve farming skills). Can i file 2010 taxes online Farm-related attorney fees. Can i file 2010 taxes online Farm magazines. Can i file 2010 taxes online Ginning. Can i file 2010 taxes online Insect sprays and dusts. Can i file 2010 taxes online Litter and bedding. Can i file 2010 taxes online Livestock fees. Can i file 2010 taxes online Marketing fees. Can i file 2010 taxes online Milk assessment. Can i file 2010 taxes online Recordkeeping expenses. Can i file 2010 taxes online Service charges. Can i file 2010 taxes online Small tools expected to last one year or less. Can i file 2010 taxes online Stamps and stationery. Can i file 2010 taxes online Subscriptions to professional, technical, and trade journals that deal with farming. Can i file 2010 taxes online Tying material and containers. Can i file 2010 taxes online Loan expenses. Can i file 2010 taxes online   You prorate and deduct loan expenses, such as legal fees and commissions, you pay to get a farm loan over the term of the loan. Can i file 2010 taxes online Tax preparation fees. Can i file 2010 taxes online   You can deduct as a farm business expense on Schedule F the cost of preparing that part of your tax return relating to your farm business. Can i file 2010 taxes online You may be able to deduct the remaining cost on Schedule A (Form 1040) if you itemize your deductions. Can i file 2010 taxes online   You also can deduct on Schedule F the amount you pay or incur in resolving tax issues relating to your farm business. Can i file 2010 taxes online Domestic Production Activities Deduction Generally, you are allowed a deduction for income attributable to domestic production activities. Can i file 2010 taxes online You can deduct 9% of the lesser of your qualified production activities income or your taxable income (adjusted gross income for individuals) for the tax year. Can i file 2010 taxes online Your deduction is limited to 50% of the Form W-2 wages you paid for the tax year that are properly allocable to domestic production gross receipts. Can i file 2010 taxes online For this purpose, Form W-2 wages do not include noncash wages paid for agricultural labor, such as compensation paid as commodities. Can i file 2010 taxes online Also, excluded from Form W-2 wages are wages paid to your children under age 18 and nontaxable fringe benefits. Can i file 2010 taxes online Income from cooperatives. Can i file 2010 taxes online   If you receive a patronage dividend or qualified per-unit retain allocation from a cooperative which is engaged in the manufacturing, production, growth, or extraction in whole or in significant part of any agricultural or horticultural product or in the marketing of agricultural or horticultural products, your income from the cooperative can give rise to a domestic production activities deduction. Can i file 2010 taxes online This deduction amount is reported on Form 1099-PATR, box 6. Can i file 2010 taxes online In order for you to qualify for the deduction, the cooperative is required to send you a written notice designating your portion of the domestic production activities deduction. Can i file 2010 taxes online More information. Can i file 2010 taxes online   For more information on the domestic production activities deduction, see the Instructions for Form 8903. Can i file 2010 taxes online Capital Expenses A capital expense is a payment, or a debt incurred, for the acquisition, improvement, or restoration of an asset that is expected to last more than one year. Can i file 2010 taxes online You include the expense in the basis of the asset. Can i file 2010 taxes online Uniform capitalization rules also require you to capitalize or include in inventory certain other expenses. Can i file 2010 taxes online See chapters 2  and 6. Can i file 2010 taxes online Capital expenses are generally not deductible, but they may be depreciable. Can i file 2010 taxes online However, you can elect to deduct certain capital expenses, such as the following. Can i file 2010 taxes online The cost of fertilizer, lime, etc. Can i file 2010 taxes online (See Fertilizer and Lime under Deductible Expenses , earlier. Can i file 2010 taxes online ) Soil and water conservation expenses. Can i file 2010 taxes online (See chapter 5. Can i file 2010 taxes online ) The cost of property that qualifies for a deduction under section 179. Can i file 2010 taxes online (See chapter 7. Can i file 2010 taxes online ) Business start-up costs. Can i file 2010 taxes online (See Business start-up and organizational costs , later. Can i file 2010 taxes online ) Forestation and reforestation costs. Can i file 2010 taxes online (See Forestation and reforestation costs , later. Can i file 2010 taxes online ) Generally, the costs of the following items, including the costs of material, hired labor, and installation, are capital expenses. Can i file 2010 taxes online Land and buildings. Can i file 2010 taxes online Additions, alterations, and improvements to buildings, etc. Can i file 2010 taxes online Cars and trucks. Can i file 2010 taxes online Equipment and machinery. Can i file 2010 taxes online Fences. Can i file 2010 taxes online Draft, breeding, sport, and dairy livestock. Can i file 2010 taxes online Repairs to machinery, equipment, trucks, and cars that prolong their useful life, increase their value, or adapt them to different use. Can i file 2010 taxes online Water wells, including drilling and equipping costs. Can i file 2010 taxes online Land preparation costs, such as: Clearing land for farming, Leveling and conditioning land, Purchasing and planting trees, Building irrigation canals and ditches, Laying irrigation pipes, Installing drain tile, Modifying channels or streams, Constructing earthen, masonry, or concrete tanks, reservoirs, or dams, and Building roads. Can i file 2010 taxes online Business start-up and organizational costs. Can i file 2010 taxes online   You can elect to deduct up to $5,000 of business start-up costs and $5,000 of organizational costs paid or incurred after October 22, 2004. Can i file 2010 taxes online The $5,000 deduction is reduced by the amount your total start-up or organizational costs exceed $50,000. Can i file 2010 taxes online Any remaining costs must be amortized. Can i file 2010 taxes online See chapter 7. Can i file 2010 taxes online   You elect to deduct start-up or organizational costs by claiming the deduction on the income tax return filed by the due date (including extensions) for the tax year in which the active trade or business begins. Can i file 2010 taxes online 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 return (excluding extensions). Can i file 2010 taxes online Clearly indicate the election on your amended return and write “Filed pursuant to section 301. Can i file 2010 taxes online 9100-2” at the top of the amended return. Can i file 2010 taxes online File the amended return at the same address you filed the original return. Can i file 2010 taxes online The election applies when figuring taxable income for the current tax year and all subsequent years. Can i file 2010 taxes online   You can choose to forgo the election by clearly electing to capitalize your start-up or organizational costs on an income tax return filed by the due date (including extensions) for the tax year in which the active trade or business begins. Can i file 2010 taxes online For more information about start-up and organizational costs, see chapter 7. Can i file 2010 taxes online Crop production expenses. Can i file 2010 taxes online   The uniform capitalization rules generally require you to capitalize expenses incurred in producing plants. Can i file 2010 taxes online However, except for certain taxpayers required to use an accrual method of accounting, the capitalization rules do not apply to plants with a preproductive period of 2 years or less. Can i file 2010 taxes online For more information, see Uniform Capitalization Rules in chapter 6. Can i file 2010 taxes online Timber. Can i file 2010 taxes online   Capitalize the cost of acquiring timber. Can i file 2010 taxes online Do not include the cost of land in the cost of the timber. Can i file 2010 taxes online You must generally capitalize direct costs incurred in reforestation. Can i file 2010 taxes online However, you can elect to deduct some forestation and reforestation costs. Can i file 2010 taxes online See Forestation and reforestation costs next. Can i file 2010 taxes online Reforestation costs include the following. Can i file 2010 taxes online Site preparation costs, such as: Girdling, Applying herbicide, Baiting rodents, and Clearing and controlling brush. Can i file 2010 taxes online The cost of seed or seedlings. Can i file 2010 taxes online Labor and tool expenses. Can i file 2010 taxes online Depreciation on equipment used in planting or seeding. Can i file 2010 taxes online Costs incurred in replanting to replace lost seedlings. Can i file 2010 taxes online You can choose to capitalize certain indirect reforestation costs. Can i file 2010 taxes online   These capitalized amounts are your basis for the timber. Can i file 2010 taxes online Recover your basis when you sell the timber or take depletion allowances when you cut the timber. Can i file 2010 taxes online See Depletion in chapter 7. Can i file 2010 taxes online Forestation and reforestation costs. Can i file 2010 taxes online   You can elect to deduct up to $10,000 ($5,000 if married filing separately; $0 for a trust) of qualifying reforestation costs paid or incurred after October 22, 2004, for each qualified timber property. Can i file 2010 taxes online Any remaining costs can be amortized over an 84-month period. Can i file 2010 taxes online See chapter 7. Can i file 2010 taxes online If you make an election to deduct or amortize qualifying reforestation costs, you should create and maintain separate timber accounts for each qualified timber property. Can i file 2010 taxes online The accounts should include all reforestation treatments and the dates they were applied. Can i file 2010 taxes online Any qualified timber property that is subject to the deduction or amortization election cannot be included in any other timber account for which depletion is allowed. Can i file 2010 taxes online The timber account should be maintained until the timber is disposed of. Can i file 2010 taxes online For more information, see Notice 2006-47, 2006-20 I. Can i file 2010 taxes online R. Can i file 2010 taxes online B. Can i file 2010 taxes online 892, available at  www. Can i file 2010 taxes online irs. Can i file 2010 taxes online gov/irb/2006-20_IRB/ar11. Can i file 2010 taxes online html. Can i file 2010 taxes online   You elect to deduct forestation and reforestation costs by claiming the deduction on the income tax return filed by the due date (including extensions) for the tax year in which the expenses were paid or incurred. Can i file 2010 taxes online If you are filing Form T (Timber), Forest Activities Schedule, also complete Form T (Timber), Part IV. Can i file 2010 taxes online If you are not filing Form T (Timber), attach a statement to your return with the following information. Can i file 2010 taxes online The unique stand identification numbers. Can i file 2010 taxes online The total number of acres reforested during the tax year. Can i file 2010 taxes online The nature of the reforestation treatments. Can i file 2010 taxes online The total amounts of the qualified reforestation expenditures eligible to be amortized or deducted. Can i file 2010 taxes online   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 return (excluding extensions). Can i file 2010 taxes online Clearly indicate the election on your amended return and write “Filed pursuant to section 301. Can i file 2010 taxes online 9100-2” at the top of the amended return. Can i file 2010 taxes online File the amended return at the same address you filed the original return. Can i file 2010 taxes online    For more information about forestation and reforestation costs, see chapter 7. Can i file 2010 taxes online    For more information about timber, see Agriculture Handbook Number 731, Forest Landowners' Guide to the Federal Income Tax. Can i file 2010 taxes online You can view this publication on the Internet at  www. Can i file 2010 taxes online fs. Can i file 2010 taxes online fed. Can i file 2010 taxes online us/publications. Can i file 2010 taxes online Christmas tree cultivation. Can i file 2010 taxes online   If you are in the business of planting and cultivating Christmas trees to sell when they are more than 6 years old, capitalize expenses incurred for planting and stump culture and add them to the basis of the standing trees. Can i file 2010 taxes online Recover these expenses as part of your adjusted basis when you sell the standing trees or as depletion allowances when you cut the trees. Can i file 2010 taxes online For more information, see Timber Depletion under Depletion in chapter 7. Can i file 2010 taxes online   You can deduct as business expenses the costs incurred for shearing and basal pruning of these trees. Can i file 2010 taxes online Expenses incurred for silvicultural practices, such as weeding or cleaning, and noncommercial thinning are also deductible as business expenses. Can i file 2010 taxes online   Capitalize the cost of land improvements, such as road grading, ditching, and fire breaks, that have a useful life beyond the tax year. Can i file 2010 taxes online If the improvements do not have a determinable useful life, add their cost to the basis of the land. Can i file 2010 taxes online The cost is recovered when you sell or otherwise dispose of it. Can i file 2010 taxes online If the improvements have a determinable useful life, recover their cost through depreciation. Can i file 2010 taxes online Capitalize the cost of equipment and other depreciable assets, such as culverts and fences, to the extent you do not use them in planting Christmas trees. Can i file 2010 taxes online Recover these costs through depreciation. Can i file 2010 taxes online Nondeductible Expenses You cannot deduct personal expenses and certain other items on your tax return even if they relate to your farm. Can i file 2010 taxes online Personal, Living, and Family Expenses You cannot deduct certain personal, living, and family expenses as business expenses. Can i file 2010 taxes online These include rent and insurance premiums paid on property used as your home, life insurance premiums on yourself or your family, the cost of maintaining cars, trucks, or horses for personal use, allowances to minor children, attorneys' fees and legal expenses incurred in personal matters, and household expenses. Can i file 2010 taxes online Likewise, the cost of purchasing or raising produce or livestock consumed by you or your family is not deductible. Can i file 2010 taxes online Other Nondeductible Items You cannot deduct the following items on your tax return. Can i file 2010 taxes online Loss of growing plants, produce, and crops. Can i file 2010 taxes online   Losses of plants, produce, and crops raised for sale are generally not deductible. Can i file 2010 taxes online However, you may have a deductible loss on plants with a preproductive period of more than 2 years. Can i file 2010 taxes online See chapter 11 for more information. Can i file 2010 taxes online Repayment of loans. Can i file 2010 taxes online   You cannot deduct the repayment of a loan. Can i file 2010 taxes online However, if you use the proceeds of a loan for farm business expenses, you can deduct the interest on the loan. Can i file 2010 taxes online See Interest , earlier. Can i file 2010 taxes online Estate, inheritance, legacy, succession, and gift taxes. Can i file 2010 taxes online   You cannot deduct estate, inheritance, legacy, succession, and gift taxes. Can i file 2010 taxes online Loss of livestock. Can i file 2010 taxes online   You cannot deduct as a loss the value of raised livestock that die if you deducted the cost of raising them as an expense. Can i file 2010 taxes online Losses from sales or exchanges between related persons. Can i file 2010 taxes online   You cannot deduct losses from sales or exchanges of property between you and certain related persons, including your spouse, brother, sister, ancestor, or lineal descendant. Can i file 2010 taxes online For more information, see chapter 2 of Publication 544, Sales and Other Dispositions of Assets. Can i file 2010 taxes online Cost of raising unharvested crops. Can i file 2010 taxes online   You cannot deduct the cost of raising unharvested crops sold with land owned more than one year if you sell both at the same time and to the same person. Can i file 2010 taxes online Add these costs to the basis of the land to determine the gain or loss on the sale. Can i file 2010 taxes online For more information, see Section 1231 Gains and Losses in chapter 9. Can i file 2010 taxes online Cost of unharvested crops bought with land. Can i file 2010 taxes online   Capitalize the purchase price of land, including the cost allocable to unharvested crops. Can i file 2010 taxes online You cannot deduct the cost of the crops at the time of purchase. Can i file 2010 taxes online However, you can deduct this cost in figuring net profit or loss in the tax year you sell the crops. Can i file 2010 taxes online Cost related to gifts. Can i file 2010 taxes online   You cannot deduct costs related to your gifts of agricultural products or property held for sale in the ordinary course of your business. Can i file 2010 taxes online The costs are not deductible in the year of the gift or any later year. Can i file 2010 taxes online For example, you cannot deduct the cost of raising cattle or the cost of planting and raising unharvested wheat on parcels of land given as a gift to your children. Can i file 2010 taxes online Club dues and membership fees. Can i file 2010 taxes online   Generally, you cannot deduct amounts you pay or incur for membership in any club organized for business, pleasure, recreation, or any other social purpose. Can i file 2010 taxes online This includes country clubs, golf and athletic clubs, hotel clubs, sporting clubs, airline clubs, and clubs operated to provide meals under circumstances generally considered to be conducive to business discussions. Can i file 2010 taxes online Exception. Can i file 2010 taxes online   The following organizations will not be treated as a club organized for business, pleasure, recreation, or other social purposes, unless one of its main purposes is to conduct entertainment activities for members or their guests or to provide members or their guests with access to entertainment facilities. Can i file 2010 taxes online Boards of trade. Can i file 2010 taxes online Business leagues. Can i file 2010 taxes online Chambers of commerce. Can i file 2010 taxes online Civic or public service organizations. Can i file 2010 taxes online Professional associations. Can i file 2010 taxes online Trade associations. Can i file 2010 taxes online Real estate boards. Can i file 2010 taxes online Fines and penalties. Can i file 2010 taxes online   You cannot deduct fines and penalties, except penalties for exceeding marketing quotas, discussed earlier. Can i file 2010 taxes online Losses From Operating a Farm If your deductible farm expenses are more than your farm income, you have a loss from the operation of your farm. Can i file 2010 taxes online The amount of the loss you can deduct when figuring your taxable income may be limited. Can i file 2010 taxes online To figure your deductible loss, you must apply the following limits. Can i file 2010 taxes online The at-risk limits. Can i file 2010 taxes online The passive activity limits. Can i file 2010 taxes online The following discussions explain these limits. Can i file 2010 taxes online If your deductible loss after applying these limits is more than your other income for the year, you may have a net operating loss. Can i file 2010 taxes online See Publication 536, Net Operating Losses (NOLs) for Individuals, Estates, and Trusts. Can i file 2010 taxes online If you do not carry on your farming activity to make a profit, your loss deduction may be limited by the not-for-profit rules. Can i file 2010 taxes online See Not-for-Profit Farming, later. Can i file 2010 taxes online At-Risk Limits The at-risk rules limit your deduction for losses from most business or income-producing activities, including farming. Can i file 2010 taxes online These rules limit the losses you can deduct when figuring your taxable income. Can i file 2010 taxes online The deductible loss from an activity is limited to the amount you have at risk in the activity. Can i file 2010 taxes online You are at risk in any activity for: The money and adjusted basis of property you contribute to the activity, and Amounts you borrow for use in the activity if: You are personally liable for repayment, or You pledge property (other than property used in the activity) as security for the loan. Can i file 2010 taxes online You are not at risk, however, for amounts you borrow for use in a farming activity from a person who has an interest in the activity (other than as a creditor) or a person related to someone (other than you) having such an interest. Can i file 2010 taxes online For more information, see Publication 925. Can i file 2010 taxes online Passive Activity Limits A passive activity is generally any activity involving the conduct of any trade or business in which you do not materially participate. Can i file 2010 taxes online Generally, a rental activity is a passive activity. Can i file 2010 taxes online If you have a passive activity, special rules limit the loss you can deduct in the tax year. Can i file 2010 taxes online You generally can deduct losses from passive activities only up to income from passive activities. Can i file 2010 taxes online Credits are similarly limited. Can i file 2010 taxes online For more information, see Publication 925. Can i file 2010 taxes online Excess Farm Loss Limit For tax years beginning after 2009, excess farm losses (defined below) are not deductible if you received certain applicable subsidies. Can i file 2010 taxes online This limit applies to any farming businesses, other than a C corporation, that received a direct or counter-cyclical payment (or any payment in lieu of such payments) under title I of the Food, Conservation, and Energy Act of 2008, or from a Commodity Credit Corporation loan. Can i file 2010 taxes online Your farming losses are limited to the greater of: $300,000 ($150,000 for a married person filing a separate return), or The total net farm income for the prior five tax years. Can i file 2010 taxes online Farming losses from casualty losses or losses by reason of disease or drought are disregarded for purposes of figuring this limitation. Can i file 2010 taxes online Also, the limitation on farm losses should be applied before the passive activity loss rules are applied. Can i file 2010 taxes online For more details, see IRC section 461(j). Can i file 2010 taxes online Excess farm loss. Can i file 2010 taxes online   Generally, an excess farm loss is the amount of your farming loss that exceeds the amount of the limitation (as described above). Can i file 2010 taxes online This loss can be determined by taking the excess of: The total deductions for the tax year from your farming businesses, over The total gross income or gain for the tax year from your farming businesses, plus the greater of: $300,000 ($150,000 for a married person filing a separate return), or The excess (if any) of the total gross income or gain from your farming businesses for the prior five tax years over the total deductions from your farming businesses for the prior five tax years. Can i file 2010 taxes online   Excess farm losses that are disallowed can be carried forward to the next tax year and treated as a deduction from that year. Can i file 2010 taxes online Not-for-Profit Farming If you operate a farm for profit, you can deduct all the ordinary and necessary expenses of carrying on the business of farming on Schedule F. Can i file 2010 taxes online However, if you do not carry on your farming activity, or other activity you engage or invest in, to make a profit, you report the income from the activity on Form 1040, line 21, and you can deduct expenses of carrying on the activity only if you itemize your deductions on Schedule A (Form 1040). Can i file 2010 taxes online Also, there is a limit on the deductions you can take. Can i file 2010 taxes online You cannot use a loss from that activity to offset income from other activities. Can i file 2010 taxes online Activities you do as a hobby, or mainly for sport or recreation, come under this limit. Can i file 2010 taxes online An investment activity intended only to produce tax losses for the investors also comes under this limit. Can i file 2010 taxes online The limit on not-for-profit losses applies to individuals, partnerships, estates, trusts, and S corporations. Can i file 2010 taxes online It does not apply to corporations other than S corporations. Can i file 2010 taxes online In determining whether you are carrying on your farming activity for profit, all the facts are taken into account. Can i file 2010 taxes online No one factor alone is decisive. Can i file 2010 taxes online Among the factors to consider are whether: You operate your farm in a businesslike manner; The time and effort you spend on farming indicate you intend to make it profitable; You depend on income from farming for your livelihood; Your losses are due to circumstances beyond your control or are normal in the start-up phase of farming; You change your methods of operation in an attempt to improve profitability; You, or your advisors, have the knowledge needed to carry on the farming activity as a successful business; You were successful in making a profit in similar activities in the past; You make a profit from farming in some years and the amount of profit you make; and You can expect to make a future profit from the appreciation of the assets used in the farming activity. Can i file 2010 taxes online Presumption of profit. Can i file 2010 taxes online   Your farming or other activity is presumed carried on for profit if it produced a profit in at least 3 of the last 5 tax years, including the current year. Can i file 2010 taxes online Activities that consist primarily of breeding, training, showing, or racing horses are presumed carried on for profit if they produced a profit in at least 2 of the last 7 tax years, including the current year. Can i file 2010 taxes online The activity must be substantially the same for each year within this period. Can i file 2010 taxes online You have a profit when the gross income from an activity is more than the deductions for it. Can i file 2010 taxes online   If a taxpayer dies before the end of the 5-year (or 7-year) period, the period ends on the date of the taxpayer's death. Can i file 2010 taxes online   If your business or investment activity passes this 3- (or 2-) years-of-profit test, presume it is carried on for profit. Can i file 2010 taxes online This means the limits discussed here do not apply. Can i file 2010 taxes online You can take all your business deductions from the activity on Schedule F, even for the years that you have a loss. Can i file 2010 taxes online You can rely on this presumption in every case, unless the IRS shows it is not valid. Can i file 2010 taxes online   If you fail the 3- (or 2-) years-of-profit test, you still may be considered to operate your farm for profit by considering the factors listed earlier. Can i file 2010 taxes online Using the presumption later. Can i file 2010 taxes online   If you are starting out in farming and do not have 3 (or 2) years showing a profit, you may want to take advantage of this presumption later, after you have had the 5 (or 7) years of experience allowed by the test. Can i file 2010 taxes online   You can choose to do this by filing Form 5213. Can i file 2010 taxes online Filing this form postpones any determination that your farming activity is not carried on for profit until 5 (or 7) years have passed since you first started farming. Can i file 2010 taxes online You must file Form 5213 within 3 years after the due date of your return for the year in which you first carried on the activity, or, if earlier, within 60 days after receiving a written notice from the IRS proposing to disallow deductions attributable to the activity. Can i file 2010 taxes online   The benefit gained by making this choice is that the IRS will not immediately question whether your farming activity is engaged in for profit. Can i file 2010 taxes online Accordingly, it will not limit your deductions. Can i file 2010 taxes online Rather, you will gain time to earn a profit in 3 (or 2) out of the first 5 (or 7) years you carry on the farming activity. Can i file 2010 taxes online If you show 3 (or 2) years of profit at the end of this period, your deductions are not limited under these rules. Can i file 2010 taxes online If you do not have 3 (or 2) years of profit (and cannot otherwise show that you operated your farm for profit), the limit applies retroactively to any year in the 5-year (or 7-year) period with a loss. Can i file 2010 taxes online   Filing Form 5213 automatically extends the period of limitations on any year
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Consumer Protection Offices

City, county, regional, and state consumer offices offer a variety of important services. They might mediate complaints, conduct investigations, prosecute offenders of consumer laws, license and regulate professional service providers, provide educational materials and advocate for consumer rights. To save time, call before sending a written complaint. Ask if the office handles the type of complaint you have and if complaint forms are provided.

State Consumer Protection Offices

South Carolina Department of Consumer Affairs

Website: South Carolina Department of Consumer Affairs

Address: South Carolina Department of Consumer Affairs
PO Box 5757
Columbia, SC 29250

Phone Number: 803-734-4200

Toll-free: 1-800-922-1594 (SC)

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Banking Authorities

The officials listed in this section regulate and supervise state-chartered banks. Many of them handle or refer problems and complaints about other types of financial institutions as well. Some also answer general questions about banking and consumer credit. If you are dealing with a federally chartered bank, check Federal Agencies.

Office of the Commissioner of Banking

Website: Office of the Commissioner of Banking

Address: Office of the Commissioner of Banking
State Board of Financial Institutions
1205 Pendleton St., Suite 305
Columbia, SC 29201

Phone Number: 803-734-2001

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Insurance Regulators

Each state has its own laws and regulations for each type of insurance. The officials listed in this section enforce these laws. Many of these offices can also provide you with information to help you make informed insurance buying decisions.

Department of Insurance

Website: Department of Insurance

Address: Department of Insurance
Consumer Services
PO Box 100105
Columbia, SC 29202-3105

Phone Number: 803-737-6180

Toll-free: 1-800-768-3467 (SC)

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Securities Administrators

Each state has its own laws and regulations for securities brokers and securities - including stocks, mutual funds, commodities, real estate, etc. The officials and agencies listed in this section enforce these laws and regulations. Many of these offices can also provide information to help you make informed investment decisions.

Office of the Attorney General

Website: Office of the Attorney General

Address: Office of the Attorney General
Securities Division
PO Box 11549
Columbia, SC 29211-1549

Phone Number: 803-734-9916

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Utility Commissions

State Utility Commissions regulate services and rates for gas, electricity and telephones within your state. In some states, the utility commissions regulate other services such as water, transportation, and the moving of household goods. Many utility commissions handle consumer complaints. Sometimes, if a number of complaints are received about the same utility matter, they will conduct investigations.

Office of Regulatory Staff

Website: Office of Regulatory Staff

Address: Office of Regulatory Staff
Consumer Services Division
1401 Main St., Suite 900
Columbia, SC 29201

Phone Number: 803-737-5230

Toll-free: 1-800-922-1531 (SC)

TTY: 1-800-334-2217 (SC)

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The Can I File 2010 Taxes Online

Can i file 2010 taxes online Publication 529 - Main Content Table of Contents Deductions Subject to the 2% LimitUnreimbursed Employee Expenses Tax Preparation Fees Other Expenses Deductions Not Subject to the 2% LimitList of Deductions Nondeductible ExpensesList of Nondeductible Expenses How To ReportWho can use Form 2106-EZ. Can i file 2010 taxes online Computer used in a home office. Can i file 2010 taxes online Example How To Get Tax HelpLow Income Taxpayer Clinics Deductions Subject to the 2% Limit You can deduct certain expenses as miscellaneous itemized deductions on Schedule A (Form 1040 or Form 1040NR). Can i file 2010 taxes online You can claim the amount of expenses that is more than 2% of your adjusted gross income. Can i file 2010 taxes online You figure your deduction on Schedule A by subtracting 2% of your adjusted gross income from the total amount of these expenses. Can i file 2010 taxes online Your adjusted gross income is the amount on Form 1040, line 38, or Form 1040NR, line 37. Can i file 2010 taxes online Generally, you apply the 2% limit after you apply any other deduction limit. Can i file 2010 taxes online For example, you apply the 50% (or 80%) limit on business-related meals and entertainment (discussed later under Travel, Transportation, Meals, Entertainment, Gifts, and Local Lodging ) before you apply the 2% limit. Can i file 2010 taxes online Deductions subject to the 2% limit are discussed in the following three categories. Can i file 2010 taxes online Unreimbursed employee expenses (Schedule A (Form 1040), line 21 or Schedule A (Form 1040NR), line 7). Can i file 2010 taxes online Tax preparation fees (Schedule A (Form 1040), line 22 or Schedule A (Form 1040NR), line 8). Can i file 2010 taxes online Other expenses (Schedule A (Form 1040), line 23 or Schedule A (Form 1040NR), line 9). Can i file 2010 taxes online Unreimbursed Employee Expenses Generally, the following expenses are deducted on Schedule A (Form 1040), line 21, or Schedule A (Form 1040NR), line 7. Can i file 2010 taxes online You can deduct only 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. Can i file 2010 taxes online An expense is ordinary if it is common and accepted in your trade, business, or profession. Can i file 2010 taxes online An expense is necessary if it is appropriate and helpful to your business. Can i file 2010 taxes online An expense does not have to be required to be considered necessary. Can i file 2010 taxes online You may be able to deduct the following items as unreimbursed employee expenses. Can i file 2010 taxes online Business bad debt of an employee. Can i file 2010 taxes online Business liability insurance premiums. Can i file 2010 taxes online Damages paid to a former employer for breach of an employment contract. Can i file 2010 taxes online Depreciation on a computer your employer requires you to use in your work. Can i file 2010 taxes online Dues to a chamber of commerce if membership helps you do your job. Can i file 2010 taxes online Dues to professional societies. Can i file 2010 taxes online Educator expenses. Can i file 2010 taxes online Home office or part of your home used regularly and exclusively in your work. Can i file 2010 taxes online Job search expenses in your present occupation. Can i file 2010 taxes online Laboratory breakage fees. Can i file 2010 taxes online Legal fees related to your job. Can i file 2010 taxes online Licenses and regulatory fees. Can i file 2010 taxes online Malpractice insurance premiums. Can i file 2010 taxes online Medical examinations required by an employer. Can i file 2010 taxes online Occupational taxes. Can i file 2010 taxes online Passport for a business trip. Can i file 2010 taxes online Repayment of an income aid payment received under an employer's plan. Can i file 2010 taxes online Research expenses of a college professor. Can i file 2010 taxes online Rural mail carriers' vehicle expenses. Can i file 2010 taxes online Subscriptions to professional journals and trade magazines related to your work. Can i file 2010 taxes online Tools and supplies used in your work. Can i file 2010 taxes online Travel, transportation, meals, entertainment, gifts, and local lodging related to your work. Can i file 2010 taxes online Union dues and expenses. Can i file 2010 taxes online Work clothes and uniforms if required and not suitable for everyday use. Can i file 2010 taxes online Work-related education. Can i file 2010 taxes online Business Bad Debt A business bad debt is a loss from a debt created or acquired in your trade or business. Can i file 2010 taxes online Any other worthless debt is a business bad debt only if there is a very close relationship between the debt and your trade or business when the debt becomes worthless. Can i file 2010 taxes online A debt has a very close relationship to your trade or business of being an employee if your main motive for incurring the debt is a business reason. Can i file 2010 taxes online Example. Can i file 2010 taxes online You make a bona fide loan to the corporation you work for. Can i file 2010 taxes online It fails to pay you back. Can i file 2010 taxes online You had to make the loan in order to keep your job. Can i file 2010 taxes online You have a business bad debt as an employee. Can i file 2010 taxes online More information. Can i file 2010 taxes online   For more information on business bad debts, see chapter 10 in Publication 535. Can i file 2010 taxes online For information on nonbusiness bad debts, see chapter 4 in Publication 550, Investment Income and Expenses. Can i file 2010 taxes online Business Liability Insurance You can deduct insurance premiums you paid for protection against personal liability for wrongful acts on the job. Can i file 2010 taxes online Damages for Breach of Employment Contract If you break an employment contract, you can deduct damages you pay your former employer if the damages are attributable to the pay you received from that employer. Can i file 2010 taxes online 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. Can i file 2010 taxes online For the convenience of your employer. Can i file 2010 taxes online   This means that your use of the computer is for a substantial business reason of your employer. Can i file 2010 taxes online You must consider all facts in making this determination. Can i file 2010 taxes online Use of your computer during your regular working hours to carry on your employer's business is generally for the convenience of your employer. Can i file 2010 taxes online Required as a condition of your employment. Can i file 2010 taxes online   This means that you cannot properly perform your duties without the computer. Can i file 2010 taxes online Whether you can properly perform your duties without it depends on all the facts and circumstances. Can i file 2010 taxes online It is not necessary that your employer explicitly requires you to use your computer. Can i file 2010 taxes online But neither is it enough that your employer merely states that your use of the item is a condition of your employment. Can i file 2010 taxes online Example. Can i file 2010 taxes online You are an engineer with an engineering firm. Can i file 2010 taxes online You occasionally take work home at night rather than work late at the office. Can i file 2010 taxes online You own and use a computer that is similar to the one you use at the office to complete your work at home. Can i file 2010 taxes online Since your use of the computer is not for the convenience of your employer and is not required as a condition of your employment, you cannot claim a depreciation deduction for it. Can i file 2010 taxes online Which depreciation method to use. Can i file 2010 taxes online   The depreciation method you use depends on whether you meet the more-than-50%-use test. Can i file 2010 taxes online More-than-50%-use test met. Can i file 2010 taxes online   You meet this test if you use the computer more than 50% in your work. Can i file 2010 taxes online If you meet this test, you can claim accelerated depreciation under the General Depreciation System (GDS). Can i file 2010 taxes online In addition, you may be able to take the section 179 deduction for the year you place the item in service. Can i file 2010 taxes online More-than-50%-use test not met. Can i file 2010 taxes online   If you do not meet the more-than-50%-use test, you are limited to the straight line method of depreciation under the Alternative Depreciation System (ADS). Can i file 2010 taxes online You also cannot claim the section 179 deduction. Can i file 2010 taxes online (But if you use your computer in a home office, see the exception below. Can i file 2010 taxes online ) Investment use. Can i file 2010 taxes online   Your use of a computer in connection with investments (described later under Other Expenses ) does not count as use in your work. Can i file 2010 taxes online However, you can combine your investment use with your work use in figuring your depreciation deduction. Can i file 2010 taxes online Exception for computer used in a home office. Can i file 2010 taxes online   The more-than-50%-use test does not apply to a computer used only in a part of your home that meets the requirements described later under Home Office . Can i file 2010 taxes online You can claim accelerated depreciation using GDS for a computer used in a qualifying home office, even if you do not use it more than 50% in your work. Can i file 2010 taxes online You also may be able to take a section 179 deduction for the year you place the computer in service. Can i file 2010 taxes online See Computer used in a home office under How To Report, later. Can i file 2010 taxes online More information. Can i file 2010 taxes online   For more information on depreciation and the section 179 deduction for computers and other items used in a home office, see Business Furniture and Equipment in Publication 587. Can i file 2010 taxes online Publication 946 has detailed information about the section 179 deduction and depreciation deductions using GDS and ADS. Can i file 2010 taxes online Reporting your depreciation deduction. Can i file 2010 taxes online    See How To Report, later, for information about reporting a deduction for depreciation. Can i file 2010 taxes online You must keep records to prove your percentage of business and investment use. Can i file 2010 taxes online 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. Can i file 2010 taxes online Similar organizations include: Boards of trade, Business leagues, Civic or public service organizations, Real estate boards, and Trade associations. Can i file 2010 taxes online Lobbying and political activities. Can i file 2010 taxes online    You may not be able to deduct that part of your dues that is for certain lobbying and political activities. Can i file 2010 taxes online See Lobbying Expenses under Nondeductible Expenses, later. Can i file 2010 taxes online 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. Can i file 2010 taxes online If you file Form 1040A, you can deduct these expenses on line 16. Can i file 2010 taxes online If you and your spouse are filing jointly and both of you were eligible educators, the maximum deduction is $500. Can i file 2010 taxes online However, neither spouse can deduct more than $250 of his or her qualified expenses. Can i file 2010 taxes online Eligible educator. Can i file 2010 taxes online   An eligible educator is a kindergarten through grade 12 teacher, instructor, counselor, principal, or aide in school for at least 900 hours during a school year. Can i file 2010 taxes online Qualified expenses. Can i file 2010 taxes online   Qualified expenses include ordinary and necessary expenses paid in connection with books, supplies, equipment (including computer equipment, software, and services), and other materials used in the classroom. Can i file 2010 taxes online An ordinary expense is one that is common and accepted in your educational field. Can i file 2010 taxes online A necessary expense is one that is helpful and appropriate for your profession as an educator. Can i file 2010 taxes online An expense does not have to be required to be considered necessary. Can i file 2010 taxes online   Qualified expenses do not include expenses for home schooling or for nonathletic supplies for courses in health or physical education. Can i file 2010 taxes online You must reduce your qualified expenses by the following amounts. Can i file 2010 taxes online Excludable U. Can i file 2010 taxes online S. Can i file 2010 taxes online series EE and I savings bond interest from Form 8815. Can i file 2010 taxes online Nontaxable qualified state tuition program earnings. Can i file 2010 taxes online Nontaxable earnings from Coverdell education savings accounts. Can i file 2010 taxes online Any reimbursements you received for those expenses that were not reported to you on your Form W-2, box 1. Can i file 2010 taxes online Educator expenses over limit. Can i file 2010 taxes online   If you were an educator in 2013 and you had qualified expenses that you cannot take as an adjustment to gross income, you can deduct the rest as an itemized deduction subject to the 2% limit. Can i file 2010 taxes online 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. Can i file 2010 taxes online 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. Can i file 2010 taxes online The regular and exclusive business use must be for the convenience of your employer and not just appropriate and helpful in your job. Can i file 2010 taxes online Principal place of business. Can i file 2010 taxes online   If you have more than one place of business, the business part of your home is your principal place of business if: You use it regularly and exclusively for administrative or management activities of your trade or business, and You have no other fixed location where you conduct substantial administrative or management activities of your trade or business. Can i file 2010 taxes online   Otherwise, the location of your principal place of business generally depends on the relative importance of the activities performed at each location and the time spent at each location. Can i file 2010 taxes online You should keep records that will give the information needed to figure the deduction according to these rules. Can i file 2010 taxes online Also keep canceled checks, substitute checks, or account statements and receipts of the expenses paid to prove the deductions you claim. Can i file 2010 taxes online More information. Can i file 2010 taxes online   See Publication 587 for more detailed information and a worksheet for figuring the deduction. Can i file 2010 taxes online 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. Can i file 2010 taxes online 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. Can i file 2010 taxes online Employment and outplacement agency fees. Can i file 2010 taxes online    You can deduct employment and outplacement agency fees you pay in looking for a new job in your present occupation. Can i file 2010 taxes online Employer pays you back. Can i file 2010 taxes online   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. Can i file 2010 taxes online See Recoveries in Publication 525. Can i file 2010 taxes online Employer pays the employment agency. Can i file 2010 taxes online   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. Can i file 2010 taxes online Résumé. Can i file 2010 taxes online   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. Can i file 2010 taxes online Travel and transportation expenses. Can i file 2010 taxes online   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. Can i file 2010 taxes online You can deduct the travel expenses if the trip is primarily to look for a new job. Can i file 2010 taxes online 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. Can i file 2010 taxes online   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. Can i file 2010 taxes online    You can choose to use the standard mileage rate to figure your car expenses. Can i file 2010 taxes online The 2013 rate for business use of a vehicle is 56½ cents per mile. Can i file 2010 taxes online See Publication 463 for more information on travel and car expenses. Can i file 2010 taxes online Legal Fees You can deduct legal fees related to doing or keeping your job. Can i file 2010 taxes online 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. Can i file 2010 taxes online 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. Can i file 2010 taxes online 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. Can i file 2010 taxes online 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. Can i file 2010 taxes online 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. Can i file 2010 taxes online Research Expenses of a College Professor If you are a college professor, you can deduct your research expenses, including travel expenses, for teaching, lecturing, or writing and publishing on subjects that relate directly to your teaching duties. Can i file 2010 taxes online 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. Can i file 2010 taxes online However, you cannot deduct the cost of travel as a form of education. Can i file 2010 taxes online Rural Mail Carriers' Vehicle Expenses If your expenses to use a vehicle in performing services as a rural mail carrier are more than the amount of your reimbursements, you can deduct the unreimbursed expenses. Can i file 2010 taxes online See chapter 4 of Publication 463 for more information. Can i file 2010 taxes online 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. Can i file 2010 taxes online You can depreciate the cost of tools that have a useful life substantially beyond the tax year. Can i file 2010 taxes online For more information about depreciation, see Publication 946. Can i file 2010 taxes online Travel, Transportation, Meals, Entertainment, Gifts, and Local Lodging If you are an employee and have ordinary and necessary business-related expenses for travel away from home, local transportation, entertainment, and gifts, you may be able to deduct these expenses. Can i file 2010 taxes online Generally, you must file Form 2106 or Form 2106-EZ to claim these expenses. Can i file 2010 taxes online Travel expenses. Can i file 2010 taxes online   Travel expenses are those incurred while traveling away from home for your employer. Can i file 2010 taxes online You can deduct travel expenses paid or incurred in connection with a temporary work assignment. Can i file 2010 taxes online Generally, you cannot deduct travel expenses paid or incurred in connection with an indefinite work assignment. Can i file 2010 taxes online   Travel expenses may include: The cost of getting to and from your business destination (air, rail, bus, car, etc. Can i file 2010 taxes online ), Meals and lodging while away from home, Taxi fares, Baggage charges, and Cleaning and laundry expenses. Can i file 2010 taxes online   Travel expenses are discussed more fully in chapter 1 of Publication 463. Can i file 2010 taxes online Temporary work assignment. Can i file 2010 taxes online    If your assignment or job away from home in a single location is realistically expected to last (and does in fact last) for 1 year or less, it is temporary, unless there are facts and circumstances that indicate it is not. Can i file 2010 taxes online Indefinite work assignment. Can i file 2010 taxes online   If your assignment or job away from home in a single location is realistically expected to last for more than 1 year, it is indefinite, whether or not it actually lasts for more than 1 year. Can i file 2010 taxes online If your assignment or job away from home in a single location is realistically expected to last for 1 year or less, but at some later date it is realistically expected to exceed 1 year, it will be treated as temporary (in the absence of facts and circumstances indicating otherwise) until the date that your realistic expectation changes, and it will be treated as indefinite after that date. Can i file 2010 taxes online Federal crime investigation and prosecution. Can i file 2010 taxes online   If you are a federal employee participating in a federal crime investigation or prosecution, you are not subject to the 1-year rule for deducting temporary travel expenses. Can i file 2010 taxes online This means that you may be able to deduct travel expenses even if you are away from your tax home for more than 1 year. Can i file 2010 taxes online   To qualify, the Attorney General must certify that you are traveling: For the Federal Government, In a temporary duty status, and To investigate, prosecute, or provide support services for the investigation or prosecution of a federal crime. Can i file 2010 taxes online Armed Forces reservists traveling more than 100 miles from home. Can i file 2010 taxes online   If you are a member of a reserve component of the Armed Forces of the United States and you travel more than 100 miles away from home in connection with your performance of services as a member of the reserves, you can deduct some of your travel expenses as an adjustment to gross income rather than as a miscellaneous itemized deduction. Can i file 2010 taxes online The amount of expenses you can deduct as an adjustment to gross income is limited to the regular federal per diem rate (for lodging, meals, and incidental expenses) and the standard mileage rate (for car expenses) plus any parking fees, ferry fees, and tolls. Can i file 2010 taxes online The balance, if any, is reported on Schedule A. Can i file 2010 taxes online   You are a member of a reserve component of the Armed Forces of the United States if you are in the Army, Naval, Marine Corps, Air Force, Coast Guard Reserve, the Army National Guard of the United States, the Air National Guard of the United States, or the Reserve Corps of the Public Health Service. Can i file 2010 taxes online   For more information on travel expenses, see Publication 463. Can i file 2010 taxes online Local transportation expenses. Can i file 2010 taxes online   Local transportation expenses are the expenses of getting from one workplace to another when you are not traveling away from home. Can i file 2010 taxes online They include the cost of transportation by air, rail, bus, taxi, and the cost of using your car. Can i file 2010 taxes online   You can choose to use the standard mileage rate to figure your car expenses. Can i file 2010 taxes online The 2013 rate for business use of a vehicle is 56½ cents per mile. Can i file 2010 taxes online    In general, the costs of commuting between your residence and your place of business are nondeductible. Can i file 2010 taxes online Work at two places in a day. Can i file 2010 taxes online   If you work at two places in a day, whether or not for the same employer, you can generally deduct the expenses of getting from one workplace to the other. Can i file 2010 taxes online Temporary work location. Can i file 2010 taxes online   You can deduct expenses incurred in going between your home and a temporary work location if at least one of the following applies. Can i file 2010 taxes online The work location is outside the metropolitan area where you live and normally work. Can i file 2010 taxes online You have at least one regular work location (other than your home) for the same trade or business. Can i file 2010 taxes online (If this applies, the distance between your home and the temporary work location does not matter. Can i file 2010 taxes online )   For this purpose, a work location is generally considered temporary if your work there is realistically expected to last (and does in fact last) for 1 year or less. Can i file 2010 taxes online It is not temporary if your work there is realistically expected to last for more than 1 year, even if it actually lasts for 1 year or less. Can i file 2010 taxes online If your work there initially is realistically expected to last for 1 year or less, but later is realistically expected to last for more than 1 year, the work location is generally considered temporary until the date your realistic expectation changes and not temporary after that date. Can i file 2010 taxes online For more information, see chapter 1 of Publication 463. Can i file 2010 taxes online Home office. Can i file 2010 taxes online   You can deduct expenses incurred in going between your home and a workplace if your home is your principal place of business for the same trade or business. Can i file 2010 taxes online (In this situation, whether the other workplace is temporary or regular and its distance from your home do not matter. Can i file 2010 taxes online ) See Home Office , earlier, for a discussion on the use of your home as your principal place of business. Can i file 2010 taxes online Meals and entertainment. Can i file 2010 taxes online   Generally, you can deduct entertainment expenses (including entertainment-related meals) only if they are directly related to the active conduct of your trade or business. Can i file 2010 taxes online However, the expense only needs to be associated with the active conduct of your trade or business if it directly precedes or follows a substantial and bona fide business-related discussion. Can i file 2010 taxes online   You can deduct only 50% of your business-related meal and entertainment expenses unless the expenses meet certain exceptions. Can i file 2010 taxes online You apply this 50% limit before you apply the 2%-of-adjusted-gross-income limit. Can i file 2010 taxes online Meals when subject to “hours of service” limits. Can i file 2010 taxes online   You can deduct 80% of your business-related meal expenses if you consume the meals during or incident to any period subject to the Department of Transportation's “hours of service” limits. Can i file 2010 taxes online You apply this 80% limit before you apply the 2%-of-adjusted-gross-income limit. Can i file 2010 taxes online Gift expenses. Can i file 2010 taxes online   You can generally deduct up to $25 of business gifts you give to any one individual during the year. Can i file 2010 taxes online The following items do not count toward the $25 limit. Can i file 2010 taxes online Identical, widely distributed items costing $4 or less that have your name clearly and permanently imprinted. Can i file 2010 taxes online Signs, racks, and promotional materials to be displayed on the business premises of the recipient. Can i file 2010 taxes online Local lodging. Can i file 2010 taxes online   If your employer provides or requires you to obtain lodging while you are not traveling away from home, you can deduct the cost of the lodging if it is: on a temporary basis, necessary for you to participate in or be available for a business meeting or employer function, and the costs are ordinary and necessary, but not lavish or extravagant. Can i file 2010 taxes online   If your employer provides the lodging or reimburses you for the cost of the lodging, you can deduct the cost only if the value or the reimbursement is included in your gross income because it is reported as wages on your Form W-2. Can i file 2010 taxes online Additional information. Can i file 2010 taxes online    See Publication 463 for more information on travel, transportation, meal, entertainment, and gift expenses, and reimbursements for these expenses. Can i file 2010 taxes online Union Dues and Expenses You can deduct dues and initiation fees you pay for union membership. Can i file 2010 taxes online You can also deduct assessments for benefit payments to unemployed union members. Can i file 2010 taxes online However, you cannot deduct the part of the assessments or contributions that provides funds for the payment of sick, accident, or death benefits. Can i file 2010 taxes online Also, you cannot deduct contributions to a pension fund even if the union requires you to make the contributions. Can i file 2010 taxes online You may not be able to deduct amounts you pay to the union that are related to certain lobbying and political activities. Can i file 2010 taxes online See Lobbying Expenses under Nondeductible Expenses, later. Can i file 2010 taxes online Work Clothes and Uniforms You can deduct the cost and upkeep of work clothes if the following two requirements are met. Can i file 2010 taxes online You must wear them as a condition of your employment. Can i file 2010 taxes online The clothes are not suitable for everyday wear. Can i file 2010 taxes online It is not enough that you wear distinctive clothing. Can i file 2010 taxes online The clothing must be specifically required by your employer. Can i file 2010 taxes online Nor is it enough that you do not, in fact, wear your work clothes away from work. Can i file 2010 taxes online The clothing must not be suitable for taking the place of your regular clothing. Can i file 2010 taxes online 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. Can i file 2010 taxes online ). Can i file 2010 taxes online Musicians and entertainers can deduct the cost of theatrical clothing and accessories that are not suitable for everyday wear. Can i file 2010 taxes online 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. Can i file 2010 taxes online Similarly, the costs of buying and maintaining blue work clothes worn by a welder at the request of a foreman are not deductible. Can i file 2010 taxes online Protective clothing. Can i file 2010 taxes online   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. Can i file 2010 taxes online   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. Can i file 2010 taxes online Military uniforms. Can i file 2010 taxes online   You generally cannot deduct the cost of your uniforms if you are on full-time active duty in the armed forces. Can i file 2010 taxes online 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. Can i file 2010 taxes online In figuring the deduction, you must reduce the cost by any nontaxable allowance you receive for these expenses. Can i file 2010 taxes online   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. Can i file 2010 taxes online   If you are a student at an armed forces academy, you cannot deduct the cost of your uniforms if they replace regular clothing. Can i file 2010 taxes online However, you can deduct the cost of insignia, shoulder boards, and related items. Can i file 2010 taxes online    You can deduct the cost of your uniforms if you are a civilian faculty or staff member of a military school. Can i file 2010 taxes online Work-Related Education You can deduct expenses you have for education, even if the education may lead to a degree, if the education meets at least one of the following two tests. Can i file 2010 taxes online It maintains or improves skills required in your present work. Can i file 2010 taxes online It is required by your employer or the law to keep your salary, status, or job, and the requirement serves a business purpose of your employer. Can i file 2010 taxes online You cannot deduct expenses you have for education, even though one or both of the preceding tests are met, if the education: Is needed to meet the minimum educational requirements to qualify you in your trade or business, or Is part of a program of study that will lead to qualifying you in a new trade or business. Can i file 2010 taxes online If your education qualifies, you can deduct expenses for tuition, books, supplies, laboratory fees, and similar items, and certain transportation costs. Can i file 2010 taxes online If the education qualifies you for a new trade or business, you cannot deduct the educational expenses even if you do not intend to enter that trade or business. Can i file 2010 taxes online Travel as education. Can i file 2010 taxes online   You cannot deduct the cost of travel that in itself constitutes a form of education. Can i file 2010 taxes online For example, a French teacher who travels to France to maintain general familiarity with the French language and culture cannot deduct the cost of the trip as an educational expense. Can i file 2010 taxes online More information. Can i file 2010 taxes online    See Publication 970, Tax Benefits for Education, for a complete discussion of the deduction for work-related education expenses. Can i file 2010 taxes online Education Expenses During Unemployment If you stop working for a year or less in order to get education in order to maintain or improve skills needed in your present work and then return to the same general type of work, your absence is considered temporary. Can i file 2010 taxes online Education that you get during a temporary absence is qualifying work-related education if it maintains or improves skills needed in your present work. Can i file 2010 taxes online Tax Preparation Fees You can usually deduct tax preparation fees on the return for the year in which you pay them. Can i file 2010 taxes online Thus, on your 2013 return, you can deduct fees paid in 2013 for preparing your 2012 return. Can i file 2010 taxes online These fees include the cost of tax preparation software programs and tax publications. Can i file 2010 taxes online They also include any fee you paid for electronic filing of your return. Can i file 2010 taxes online See Tax preparation fees under How To Report, later. Can i file 2010 taxes online Other Expenses You can deduct certain other expenses as miscellaneous itemized deductions subject to the 2%-of-adjusted-gross-income limit. Can i file 2010 taxes online On Schedule A (Form 1040), line 23, or Schedule A (Form 1040NR), line 9, you can deduct the ordinary and necessary 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. Can i file 2010 taxes online You can deduct expenses you pay for the purposes in (1) and (2) above only if they are reasonable and closely related to these purposes. Can i file 2010 taxes online These other expenses include the following items. Can i file 2010 taxes online Appraisal fees for a casualty loss or charitable contribution. Can i file 2010 taxes online Casualty and theft losses from property used in performing services as an employee. Can i file 2010 taxes online Clerical help and office rent in caring for investments. Can i file 2010 taxes online Depreciation on home computers used for investments. Can i file 2010 taxes online Excess deductions (including administrative expenses) allowed a beneficiary on termination of an estate or trust. Can i file 2010 taxes online Fees to collect interest and dividends. Can i file 2010 taxes online Hobby expenses, but generally not more than hobby income. Can i file 2010 taxes online Indirect miscellaneous deductions from pass-through entities. Can i file 2010 taxes online Investment fees and expenses. Can i file 2010 taxes online Legal fees related to producing or collecting taxable income or getting tax advice. Can i file 2010 taxes online Loss on deposits in an insolvent or bankrupt financial institution. Can i file 2010 taxes online Loss on traditional IRAs or Roth IRAs, when all amounts have been distributed to you. Can i file 2010 taxes online Repayments of income. Can i file 2010 taxes online Repayments of social security benefits. Can i file 2010 taxes online Safe deposit box rental, except for storing jewelry and other personal effects. Can i file 2010 taxes online Service charges on dividend reinvestment plans. Can i file 2010 taxes online Tax advice fees. Can i file 2010 taxes online Trustee's fees for your IRA, if separately billed and paid. Can i file 2010 taxes online If the expenses you pay produce income that is only partially taxable, see Tax-Exempt Income Expenses, later, under Nondeductible Expenses. Can i file 2010 taxes online Appraisal Fees You can deduct appraisal fees if you pay them to figure a casualty loss or the fair market value of donated property. Can i file 2010 taxes online 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. Can i file 2010 taxes online First report the loss in Section B of Form 4684, Casualties and Thefts. Can i file 2010 taxes online You may also have to include the loss on Form 4797, Sales of Business Property, if you are otherwise required to file that form. Can i file 2010 taxes online 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. Can i file 2010 taxes online For more information on casualty and theft losses, see Publication 547, Casualties, Disasters, and Thefts. Can i file 2010 taxes online 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. Can i file 2010 taxes online 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. Can i file 2010 taxes online The fees are deductible on the return for the year in which you paid them. Can i file 2010 taxes online For example, fees charged to payments made in 2013 can be claimed on the 2013 tax return. Can i file 2010 taxes online 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). Can i file 2010 taxes online You generally must depreciate the computer using the straight line method over the Alternative Depreciation System (ADS) recovery period. Can i file 2010 taxes online But if you work as an employee and also use the computer in that work, see Depreciation on Computers under Unreimbursed Employee Expenses, earlier. Can i file 2010 taxes online For more information on depreciation, see Publication 946. Can i file 2010 taxes online 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. Can i file 2010 taxes online Do not include deductions for the estate's personal exemption and charitable contributions when figuring the estate's total deductions. Can i file 2010 taxes online 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. Can i file 2010 taxes online For more information, see Termination of Estate in Publication 559, Survivors, Executors, and Administrators. Can i file 2010 taxes online 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. Can i file 2010 taxes online But you cannot deduct a fee you pay to a broker to buy investment property, such as stocks or bonds. Can i file 2010 taxes online You must add the fee to the cost of the property. Can i file 2010 taxes online You cannot deduct the fee you pay to a broker to sell securities. Can i file 2010 taxes online You can use the fee only to figure gain or loss from the sale. Can i file 2010 taxes online See the instructions for Schedule D (Form 1040) for information on how to report the fee. Can i file 2010 taxes online Hobby Expenses You can generally deduct hobby expenses, but only up to the amount of hobby income. Can i file 2010 taxes online A hobby is not a business because it is not carried on to make a profit. Can i file 2010 taxes online See Not-for-Profit Activities in chapter 1 of Publication 535. Can i file 2010 taxes online Indirect Deductions of Pass-Through Entities Pass-through entities include partnerships, S corporations, and mutual funds that are not publicly offered. Can i file 2010 taxes online Deductions of pass-through entities are passed through to the partners or shareholders. Can i file 2010 taxes online The partners or shareholders can deduct their share of passed-through deductions for investment expenses as miscellaneous itemized deductions subject to the 2% limit. Can i file 2010 taxes online Example. Can i file 2010 taxes online You are a member of an investment club that is formed solely to invest in securities. Can i file 2010 taxes online The club is treated as a partnership. Can i file 2010 taxes online The partnership's income is solely from taxable dividends, interest, and gains from sales of securities. Can i file 2010 taxes online In this case, you can deduct your share of the partnership's operating expenses as miscellaneous itemized deductions subject to the 2% limit. Can i file 2010 taxes online 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. Can i file 2010 taxes online Publicly offered mutual funds. Can i file 2010 taxes online   Publicly offered mutual funds do not pass deductions for investment expenses through to shareholders. Can i file 2010 taxes online 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. Can i file 2010 taxes online   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). Can i file 2010 taxes online This net figure is the amount you report on your return as income. Can i file 2010 taxes online You cannot further deduct investment expenses related to publicly offered mutual funds because they are already included as part of the net income amount. Can i file 2010 taxes online Information returns. Can i file 2010 taxes online   You should receive information returns from pass-through entities. Can i file 2010 taxes online Partnerships and S corporations. Can i file 2010 taxes online   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. Can i file 2010 taxes online Nonpublicly offered mutual funds. Can i file 2010 taxes online   These funds will send you a Form 1099-DIV, or a substitute form, showing your share of gross income and investment expenses. Can i file 2010 taxes online You can claim the expenses only as a miscellaneous itemized deduction subject to the 2% limit. Can i file 2010 taxes online 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. Can i file 2010 taxes online 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. Can i file 2010 taxes online 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. Can i file 2010 taxes online 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. Can i file 2010 taxes online You deduct expenses of resolving nonbusiness tax issues on Schedule A (Form 1040 or Form 1040NR). Can i file 2010 taxes online See Tax Preparation Fees, earlier. Can i file 2010 taxes online Unlawful discrimination claims. Can i file 2010 taxes online   You may be able to deduct, as an adjustment to income on Form 1040, line 36, or Form 1040NR, line 35, rather than as a miscellaneous itemized deduction, attorney fees and court costs for actions settled or decided after October 22, 2004, involving a claim of unlawful discrimination, a claim against the U. Can i file 2010 taxes online S. Can i file 2010 taxes online Government, or a claim made under section 1862(b)(3)(A) of the Social Security Act. Can i file 2010 taxes online However, the amount you can deduct on Form 1040, line 36, or Form 1040NR, line 35, is limited to the amount of the judgment or settlement you are including in income for the tax year. Can i file 2010 taxes online See Publication 525 for more information. Can i file 2010 taxes online Loss on Deposits A loss on deposits can occur when a bank, credit union, or other financial institution becomes insolvent or bankrupt. Can i file 2010 taxes online If you can reasonably estimate the amount of your loss on money you have on deposit in a financial institution that becomes insolvent or bankrupt, you can generally choose to deduct it in the current year even though its exact amount has not been finally determined. Can i file 2010 taxes online If elected, the casualty loss is subject to certain deduction limitations. Can i file 2010 taxes online The election is made on Form 4684. Can i file 2010 taxes online Once you make this choice, you cannot change it without IRS approval. Can i file 2010 taxes online If none of the deposit is federally insured, you can deduct the loss in either of the following ways. Can i file 2010 taxes online As an ordinary loss (as a miscellaneous itemized deduction subject to the 2% limit). Can i file 2010 taxes online Write the name of the financial institution and “Insolvent Financial Institution” beside the amount on Schedule A (Form 1040), line 23, or Schedule A (Form 1040NR), line 9. Can i file 2010 taxes online This deduction is limited to $20,000 ($10,000 if you are married filing separately) for each financial institution, reduced by any expected state insurance proceeds. Can i file 2010 taxes online As a casualty loss. Can i file 2010 taxes online Report it on Form 4684 first and then on Schedule A (Form 1040). Can i file 2010 taxes online See Publication 547 for details. Can i file 2010 taxes online As a nonbusiness bad debt. Can i file 2010 taxes online Report it on Schedule D (Form 1040). Can i file 2010 taxes online If any part of the deposit is federally insured, you can deduct the loss only as a casualty loss. Can i file 2010 taxes online Exception. Can i file 2010 taxes online   You cannot make this choice if you are a 1%-or-more-owner or an officer of the financial institution, or are related to such owner or officer. Can i file 2010 taxes online For a definition of “related,” see Deposit in Insolvent or Bankrupt Financial Institution in chapter 4 of Publication 550. Can i file 2010 taxes online Actual loss different from estimated loss. Can i file 2010 taxes online   If you make this choice and your actual loss is less than your estimated loss, you must include the excess in income. Can i file 2010 taxes online See Recoveries in Publication 525. Can i file 2010 taxes online If your actual loss is more than your estimated loss, treat the excess loss as explained under Choice not made, next. Can i file 2010 taxes online Choice not made. Can i file 2010 taxes online   If you do not make this choice (or if you have an excess actual loss after choosing to deduct your estimated loss), treat your loss (or excess loss) as a nonbusiness bad debt (deductible as a short-term capital loss) in the year its amount is finally determined. Can i file 2010 taxes online See Nonbusiness Bad Debts in chapter 4 of Publication 550. Can i file 2010 taxes online Loss on IRA If you have a loss on your traditional IRA (or Roth IRA) investment, you can deduct the loss as a miscellaneous itemized deduction subject to the 2% limit, but only when all the amounts in all your traditional IRA (or Roth IRA) accounts have been distributed to you and the total distributions are less than your unrecovered basis. Can i file 2010 taxes online For more information, see Publication 590, Individual Retirement Arrangements (IRAs). Can i file 2010 taxes online 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. Can i file 2010 taxes online If the amount you had to repay was ordinary income of $3,000 or less, the deduction is subject to the 2% limit. Can i file 2010 taxes online If it was more than $3,000, see Repayments Under Claim of Right under Deductions Not Subject to the 2% Limit, later. Can i file 2010 taxes online Repayments of Social Security Benefits If the total of the amounts in box 5 (net benefits for 2013) of all your Forms SSA-1099, Social Security Benefit Statement, and Forms RRB-1099, Payments By the Railroad Retirement Board, is a negative figure (a figure in parentheses), you may be able to take a miscellaneous itemized deduction subject to the 2% limit. Can i file 2010 taxes online The amount you can deduct is the part of the negative figure that represents an amount you included in gross income in an earlier year. Can i file 2010 taxes online The amount in box 5 of Form SSA-1099 or RRB-1099 is the net amount of your benefits for the year. Can i file 2010 taxes online It will be a negative figure if the amount of benefits you repaid in 2013 (box 4) is more than the gross amount of benefits paid to you in 2013 (box 3). Can i file 2010 taxes online If the deduction is more than $3,000, you will have to use a special computation to figure your tax. Can i file 2010 taxes online See Publication 915, Social Security and Equivalent Railroad Retirement Benefits, for additional information. Can i file 2010 taxes online 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. Can i file 2010 taxes online You cannot deduct the rent if you use the box only for jewelry, other personal items, or tax-exempt securities. Can i file 2010 taxes online Service Charges on Dividend Reinvestment Plans You can deduct service charges you pay as a subscriber in a dividend reinvestment plan. Can i file 2010 taxes online 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. Can i file 2010 taxes online Trustee's Administrative Fees for IRA Trustee's administrative fees that are billed separately and paid by you in connection with your IRA are deductible (if they are ordinary and necessary) as a miscellaneous itemized deduction subject to the 2% limit. Can i file 2010 taxes online Deductions Not Subject to the 2% Limit You can deduct the items listed below as miscellaneous itemized deductions. Can i file 2010 taxes online They are not subject to the 2% limit. Can i file 2010 taxes online Report these items on Schedule A (Form 1040), line 28, or Schedule A (Form 1040NR), line 14. Can i file 2010 taxes online List of Deductions Amortizable premium on taxable bonds. Can i file 2010 taxes online Casualty and theft losses from income-producing property. Can i file 2010 taxes online Federal estate tax on income in respect of a decedent. Can i file 2010 taxes online Gambling losses up to the amount of gambling winnings. Can i file 2010 taxes online Impairment-related work expenses of persons with disabilities. Can i file 2010 taxes online Loss from other activities from Schedule K-1 (Form 1065-B), box 2. Can i file 2010 taxes online Losses from Ponzi-type investment schemes. Can i file 2010 taxes online Repayments of more than $3,000 under a claim of right. Can i file 2010 taxes online Unrecovered investment in an annuity. Can i file 2010 taxes online 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. Can i file 2010 taxes online You can elect to amortize the premium on taxable bonds. Can i file 2010 taxes online The amortization of the premium is generally an offset to interest income on the bond rather than a separate deduction item. Can i file 2010 taxes online Pre-1998 election to amortize bond premium. Can i file 2010 taxes online   Generally, if you first elected to amortize bond premium before 1998, the above treatment of the premium does not apply to bonds you acquired before 1988. Can i file 2010 taxes online Bonds acquired after October 22, 1986, and before 1988. Can i file 2010 taxes online   The amortization of the premium on these bonds is investment interest expense subject to the investment interest limit, unless you chose to treat it as an offset to interest income on the bond. Can i file 2010 taxes online Bonds acquired before October 23, 1986. Can i file 2010 taxes online   The amortization of the premium on these bonds is a miscellaneous itemized deduction not subject to the 2% limit. Can i file 2010 taxes online Deduction for excess premium. Can i file 2010 taxes online   On certain bonds (such as bonds that pay a variable rate of interest or that provide for an interest-free period), the amount of bond premium allocable to a period may exceed the amount of stated interest allocable to the period. Can i file 2010 taxes online If this occurs, treat the excess as a miscellaneous itemized deduction that is not subject to the 2% limit. Can i file 2010 taxes online However, the amount deductible is limited to the amount by which your total interest inclusions on the bond in prior periods exceed the total amount you treated as a bond premium deduction on the bond in prior periods. Can i file 2010 taxes online If any of the excess bond premium cannot be deducted because of the limit, this amount is carried forward to the next period and is treated as bond premium allocable to that period. Can i file 2010 taxes online    Pre-1998 choice to amortize bond premium. Can i file 2010 taxes online If you made the choice to amortize the premium on taxable bonds before 1998, you can deduct the bond premium amortization that is more than your interest income only for bonds acquired during 1998 and later years. Can i file 2010 taxes online More information. Can i file 2010 taxes online    For more information on bond premium, see Bond Premium Amortization in chapter 3 of Publication 550. Can i file 2010 taxes online 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). Can i file 2010 taxes online First report the loss in Section B of Form 4684. Can i file 2010 taxes online You may also have to include the loss on Form 4797, Sales of Business Property, if you are otherwise required to file that form. Can i file 2010 taxes online 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. Can i file 2010 taxes online For more information on casualty and theft losses, see Publication 547. Can i file 2010 taxes online 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. Can i file 2010 taxes online 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. Can i file 2010 taxes online See Publication 559 for information about figuring the amount of this deduction. Can i file 2010 taxes online 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. Can i file 2010 taxes online You deduct your gambling losses for the year on Schedule A (Form 1040), line 28. Can i file 2010 taxes online You cannot deduct gambling losses that are more than your winnings. Can i file 2010 taxes online Generally, nonresident aliens cannot deduct gambling losses on Schedule A (Form 1040NR). Can i file 2010 taxes online You cannot reduce your gambling winnings by your gambling losses and report the difference. Can i file 2010 taxes online 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. Can i file 2010 taxes online Therefore, your records should show your winnings separately from your losses. Can i file 2010 taxes online Diary of winnings and losses. Can i file 2010 taxes online You must keep an accurate diary or similar record of your losses and winnings. Can i file 2010 taxes online Your diary should contain at least the following information. Can i file 2010 taxes online The date and type of your specific wager or wagering activity. Can i file 2010 taxes online The name and address or location of the gambling establishment. Can i file 2010 taxes online The names of other persons present with you at the gambling establishment. Can i file 2010 taxes online The amount(s) you won or lost. Can i file 2010 taxes online Proof of winnings and losses. Can i file 2010 taxes online   In addition to your diary, you should also have other documentation. Can i file 2010 taxes online You can generally prove your winnings and losses through Form W-2G, Certain Gambling Winnings, Form 5754, Statement by Person(s) Receiving Gambling Winnings, wagering tickets, canceled checks, substitute checks, credit records, bank withdrawals, and statements of actual winnings or payment slips provided to you by the gambling establishment. Can i file 2010 taxes online   For specific wagering transactions, you can use the following items to support your winnings and losses. Can i file 2010 taxes online    These recordkeeping suggestions are intended as general guidelines to help you establish your winnings and losses. Can i file 2010 taxes online They are not all-inclusive. Can i file 2010 taxes online Your tax liability depends on your particular facts and circumstances. Can i file 2010 taxes online Keno. Can i file 2010 taxes online   Copies of the keno tickets you purchased that were validated by the gambling establishment, copies of your casino credit records, and copies of your casino check cashing records. Can i file 2010 taxes online Slot machines. Can i file 2010 taxes online   A record of the machine number and all winnings by date and time the machine was played. Can i file 2010 taxes online Table games (twenty-one (blackjack), craps, poker, baccarat, roulette, wheel of fortune, etc. Can i file 2010 taxes online ). Can i file 2010 taxes online   The number of the table at which you were playing. Can i file 2010 taxes online Casino credit card data indicating whether the credit was issued in the pit or at the cashier's cage. Can i file 2010 taxes online Bingo. Can i file 2010 taxes online   A record of the number of games played, cost of tickets purchased, and amounts collected on winning tickets. Can i file 2010 taxes online Supplemental records include any receipts from the casino, parlor, etc. Can i file 2010 taxes online Racing (horse, harness, dog, etc. Can i file 2010 taxes online ). Can i file 2010 taxes online   A record of the races, amounts of wagers, amounts collected on winning tickets, and amounts lost on losing tickets. Can i file 2010 taxes online Supplemental records include unredeemed tickets and payment records from the racetrack. Can i file 2010 taxes online Lotteries. Can i file 2010 taxes online   A record of ticket purchases, dates, winnings, and losses. Can i file 2010 taxes online Supplemental records include unredeemed tickets, payment slips, and winnings statements. Can i file 2010 taxes online 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. Can i file 2010 taxes online Impairment-related work expenses are ordinary and necessary business expenses for attendant care services at your place of work and other expenses in connection with your place of work that are necessary for you to be able to work. Can i file 2010 taxes online Example. Can i file 2010 taxes online You are blind. Can i file 2010 taxes online You must use a reader to do your work. Can i file 2010 taxes online You use the reader both during your regular working hours at your place of work and outside your regular working hours away from your place of work. Can i file 2010 taxes online The reader's services are only for your work. Can i file 2010 taxes online You can deduct your expenses for the reader as impairment-related work expenses. Can i file 2010 taxes online Self-employed. Can i file 2010 taxes online   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. Can i file 2010 taxes online See Impairment-related work expenses. Can i file 2010 taxes online , later under How To Report. Can i file 2010 taxes online 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, or Schedule A (Form 1040NR), line 14 (only if effectively connected with a U. Can i file 2010 taxes online S. Can i file 2010 taxes online trade or business). Can i file 2010 taxes online It is not subject to the passive activity limitations. Can i file 2010 taxes online Officials Paid on a Fee Basis If you are a fee-basis official, you can claim your expenses in performing services in that job as an adjustment to income rather than as a miscellaneous itemized deduction. Can i file 2010 taxes online See Publication 463 for more information. Can i file 2010 taxes online Performing Artists If you are a qualified performing artist, you can deduct your employee business expenses as an adjustment to income rather than as a miscellaneous itemized deduction. Can i file 2010 taxes online If you are an employee, complete Form 2106 or Form 2106-EZ. Can i file 2010 taxes online See Publication 463 for more information. Can i file 2010 taxes online Losses From Ponzi-type Investment Schemes These losses are deductible as theft losses of income-producing property on your tax return for the year the loss was discovered. Can i file 2010 taxes online You figure the deductible loss in Section B of Form 4684. Can i file 2010 taxes online However, if you qualify to use Revenue Procedure 2009-20 (as modified by Revenue Procedure 2011-58) and you choose to follow the procedures in the guidance, complete Section C of Form 4684 before completing Section B. Can i file 2010 taxes online Section C of Form 4684 replaces Appendix A in Revenue Procedure 2009-20. Can i file 2010 taxes online You do not need to complete Appendix A. Can i file 2010 taxes online See the Form 4684 instructions and Publication 547, Casualties, Disasters, and Thefts, for more information. Can i file 2010 taxes online 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. Can i file 2010 taxes online See Repayments in Publication 525 for more information. Can i file 2010 taxes online 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. Can i file 2010 taxes online 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. Can i file 2010 taxes online See Publication 575, Pension and Annuity Income, for more information about the tax treatment of pensions and annuities. Can i file 2010 taxes online Nondeductible Expenses You cannot deduct the following expenses. Can i file 2010 taxes online List of Nondeductible Expenses Adoption expenses. Can i file 2010 taxes online Broker's commissions. Can i file 2010 taxes online Burial or funeral expenses, including the cost of a cemetery lot. Can i file 2010 taxes online Campaign expenses. Can i file 2010 taxes online Capital expenses. Can i file 2010 taxes online Check-writing fees. Can i file 2010 taxes online Club dues. Can i file 2010 taxes online Commuting expenses. Can i file 2010 taxes online Fees and licenses, such as car licenses, marriage licenses, and dog tags. Can i file 2010 taxes online Fines and penalties, such as parking tickets. Can i file 2010 taxes online Health spa expenses. Can i file 2010 taxes online Hobby losses—but see Hobby Expenses, earlier. Can i file 2010 taxes online Home repairs, insurance, and rent. Can i file 2010 taxes online Home security system. Can i file 2010 taxes online Illegal bribes and kickbacks—see Bribes and kickbacks in chapter 11 of Publication 535. Can i file 2010 taxes online Investment-related seminars. Can i file 2010 taxes online Life insurance premiums paid by the insured. Can i file 2010 taxes online Lobbying expenses. Can i file 2010 taxes online Losses from the sale of your home, furniture, personal car, etc. Can i file 2010 taxes online Lost or misplaced cash or property. Can i file 2010 taxes online Lunches with co-workers. Can i file 2010 taxes online Meals while working late. Can i file 2010 taxes online Medical expenses as business expenses other than medical examinations required by your employer. Can i file 2010 taxes online Personal disability insurance premiums. Can i file 2010 taxes online Personal legal expenses. Can i file 2010 taxes online Personal, living, or family expenses. Can i file 2010 taxes online Political contributions. Can i file 2010 taxes online Professional accreditation fees. Can i file 2010 taxes online Professional reputation, expenses to improve. Can i file 2010 taxes online Relief fund contributions. Can i file 2010 taxes online Residential telephone line. Can i file 2010 taxes online Stockholders' meeting, expenses of attending. Can i file 2010 taxes online Tax-exempt income, expenses of earning or collecting. Can i file 2010 taxes online The value of wages never received or lost vacation time. Can i file 2010 taxes online Travel expenses for another individual. Can i file 2010 taxes online Voluntary unemployment benefit fund contributions. Can i file 2010 taxes online Wristwatches. Can i file 2010 taxes online Adoption Expenses You cannot deduct the expenses of adopting a child but you may be able to take a credit for those expenses. Can i file 2010 taxes online For details, see Form 8839, Qualified Adoption Expenses. Can i file 2010 taxes online Commissions Commissions paid on the purchase of securities are not deductible, either as business or nonbusiness expenses. Can i file 2010 taxes online Instead, these fees must be added to the taxpayer's cost of the securities. Can i file 2010 taxes online Commissions paid on the sale are deductible as business expenses only by dealers. Can i file 2010 taxes online Campaign Expenses You cannot deduct campaign expenses of a candidate for any office, even if the candidate is running for reelection to the office. Can i file 2010 taxes online These include qualification and registration fees for primary elections. Can i file 2010 taxes online Legal fees. Can i file 2010 taxes online   You cannot deduct legal fees paid to defend charges that arise from participation in a political campaign. Can i file 2010 taxes online Capital Expenses You cannot currently deduct amounts paid to buy property that has a useful life substantially beyond the tax year or amounts paid to increase the value or prolong the life of property. Can i file 2010 taxes online If you use such property in your work, you may be able to take a depreciation deduction. Can i file 2010 taxes online See Publication 946. Can i file 2010 taxes online If the property is a car used in your work, also see Publication 463. Can i file 2010 taxes online 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. Can i file 2010 taxes online Club Dues Generally, you cannot deduct the cost of membership in any club organized for business, pleasure, recreation, or other social purpose. Can i file 2010 taxes online This includes business, social, athletic, luncheon, sporting, airline, hotel, golf, and country clubs. Can i file 2010 taxes online 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. Can i file 2010 taxes online Dues paid to airline, hotel, and luncheon clubs are not deductible. Can i file 2010 taxes online Commuting Expenses You cannot deduct commuting expenses (the cost of transportation between your home and your main or regular place of work). Can i file 2010 taxes online 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. Can i file 2010 taxes online Fines or Penalties You cannot deduct fines or penalties you pay to a governmental unit for violating a law. Can i file 2010 taxes online This includes an amount paid in settlement of your actual or potential liability for a fine or penalty (civil or criminal). Can i file 2010 taxes online Fines or penalties include parking tickets, tax penalties, and penalties deducted from teachers' paychecks after an illegal strike. Can i file 2010 taxes online 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. Can i file 2010 taxes online Home Security System You cannot deduct the cost of a home security system as a miscellaneous deduction. Can i file 2010 taxes online However, you may be able to claim a deduction for a home security system as a business expense if you have a home office. Can i file 2010 taxes online See Home Office under Unreimbursed Employee Expenses, earlier, and Publication 587. Can i file 2010 taxes online Investment-Related Seminars You cannot deduct any expenses for attending a convention, seminar, or similar meeting for investment purposes. Can i file 2010 taxes online Life Insurance Premiums You cannot deduct premiums you pay on your life insurance. Can i file 2010 taxes online You may be able to deduct, as alimony, premiums you pay on life insurance policies assigned to your former spouse. Can i file 2010 taxes online See Publication 504, Divorced or Separated Individuals, for information on alimony. Can i file 2010 taxes online Lobbying Expenses You generally cannot deduct amounts paid or incurred for lobbying expenses. Can i file 2010 taxes online 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. Can i file 2010 taxes online Lobbying expenses also include any amounts paid or incurred for research, preparation, planning, or coordination of any of these activities. Can i file 2010 taxes online Covered executive branch official. Can i file 2010 taxes online   A covered executive branch official, for the purpose of (4) above, is any of the following officials. Can i file 2010 taxes online The President. Can i file 2010 taxes online The Vice President. Can i file 2010 taxes online Any officer or employee of the White House Office of the Executive Office of the President, and the two most senior level officers of each of the other agencies in the Executive Office. Can i file 2010 taxes online Any individual serving in a position in Level I of the Executive Schedule under section 5312 of Title 5, United States Code, any other individual designated by the President as having Cabinet-level status, and any immediate deputy of one of these individuals. Can i file 2010 taxes online Dues used for lobbying. Can i file 2010 taxes online   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. Can i file 2010 taxes online Exceptions. Can i file 2010 taxes online   You can deduct certain lobbying expenses if they are ordinary and necessary expenses of carrying on your trade or business. Can i file 2010 taxes online You can deduct expenses for attempting to influence the legislation of any local council or similar governing body (local legislation). Can i file 2010 taxes online An Indian tribal government is considered a local council or similar governing body. Can i file 2010 taxes online You can deduct in-house expenses for influencing legislation or communicating directly with a covered executive branch official if the expenses for the tax year are not more than $2,000 (not counting overhead expenses). Can i file 2010 taxes online If you are a professional lobbyist, you can deduct the expenses you incur in the trade or business of lobbying on behalf of another person. Can i file 2010 taxes online Payments by the other person to you for lobbying activities cannot be deducted. Can i file 2010 taxes online Lost or Mislaid Cash or Property You cannot deduct a loss based on the mere disappearance of money or property. Can i file 2010 taxes online 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. Can i file 2010 taxes online See Publication 547. Can i file 2010 taxes online Example. Can i file 2010 taxes online A car door is accidentally slammed on your hand, breaking the setting of your diamond ring. Can i file 2010 taxes online The diamond falls from the ring and is never found. Can i file 2010 taxes online The loss of the diamond is a casualty. Can i file 2010 taxes online Lunches With Co-workers You cannot deduct the expenses of lunches with co-workers, except while traveling away from home on business. Can i file 2010 taxes online See Publication 463 for information on deductible expenses while traveling away from home. Can i file 2010 taxes online Meals While Working Late You cannot deduct the cost of meals while working late. Can i file 2010 taxes online However, you may be able to claim a deduction if the cost of the meals is a deductible entertainment expense, or if you are traveling away from home. Can i file 2010 taxes online See Publication 463 for information on deductible entertainment expenses and expenses while traveling away from home. Can i file 2010 taxes online Personal Legal Expenses You cannot deduct personal legal expenses such as those for the following. Can i file 2010 taxes online Custody of children. Can i file 2010 taxes online Breach of promise to marry suit. Can i file 2010 taxes online Civil or criminal charges resulting from a personal relationship. Can i file 2010 taxes online Damages for personal injury (except certain whistleblower claims and unlawful discrimination claims). Can i file 2010 taxes online For more information about unlawful discrimination claims, see Deductions Subject to the 2% Limit, earlier. Can i file 2010 taxes online Preparation of a title (or defense or perfection of a title). Can i file 2010 taxes online Preparation of a will. Can i file 2010 taxes online Property claims or property settlement in a divorce. Can i file 2010 taxes online You cannot deduct these expenses even if a result of the legal proceeding is the loss of income-producing property. Can i file 2010 taxes online Political Contributions You cannot deduct contributions made to a political candidate, a campaign committee, or a newsletter fund. Can i file 2010 taxes online Advertisements in convention bulletins and admissions to dinners or programs that benefit a political party or political candidate are not deductible. Can i file 2010 taxes online Professional Accreditation Fees You cannot deduct professional accreditation fees such as the following. Can i file 2010 taxes online Accounting certificate fees paid for the initial right to practice accounting. Can i file 2010 taxes online Bar exam fees and incidental expenses in securing initial admission to the bar. Can i file 2010 taxes online Medical and dental license fees paid to get initial licensing. Can i file 2010 taxes online Professional Reputation You cannot deduct expenses of radio and TV appearances to increase your personal prestige or establish your professional reputation. Can i file 2010 taxes online 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. Can i file 2010 taxes online 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. Can i file 2010 taxes online 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. Can i file 2010 taxes online You cannot deduct these expenses even if you are attending the meeting to get information that would be useful in making further investments. Can i file 2010 taxes online Tax-Exempt Income Expenses You cannot deduct expenses to produce tax-exempt income. Can i file 2010 taxes online You cannot deduct interest on a debt incurred or continued to buy or carry tax-exempt securities. Can i file 2010 taxes online If you have expenses to p