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How Do You Amend Tax Returns

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How Do You Amend Tax Returns

How do you amend tax returns 5. How do you amend tax returns   Figuring Your Tax Table of Contents Introduction Topics - This chapter discusses: Useful Items - You may want to see: Tax Year Identification NumberF-1 and M-1 visa holders. How do you amend tax returns J-1 visa holders. How do you amend tax returns Filing StatusResident Aliens Nonresident Aliens Reporting Your Income DeductionsResident Aliens Nonresident Aliens ExemptionsResident Aliens Nonresident Aliens Itemized DeductionsResident Aliens Nonresident Aliens Tax Credits and PaymentsResident Aliens Nonresident Aliens Bona Fide Residents of American Samoa or Puerto Rico Introduction After you have determined your alien status, the source of your income, and if and how that income is taxed in the United States, your next step is to figure your tax. How do you amend tax returns The information in this chapter is not as comprehensive for resident aliens as it is for nonresident aliens. How do you amend tax returns Resident aliens should get publications, forms, and instructions for U. How do you amend tax returns S. How do you amend tax returns citizens, because the information for filing returns for resident aliens is generally the same as for U. How do you amend tax returns S. How do you amend tax returns citizens. How do you amend tax returns If you are both a nonresident alien and a resident alien in the same tax year, see chapter 6 for a discussion of dual-status aliens. How do you amend tax returns Topics - This chapter discusses: Identification numbers, Filing status, Deductions, Exemptions, Tax credits and payments, and Special rules for bona fide residents of American Samoa and Puerto Rico. How do you amend tax returns Useful Items - You may want to see: Publication 463 Travel, Entertainment, Gift, and Car Expenses 501 Exemptions, Standard Deduction, and Filing Information 521 Moving Expenses 526 Charitable Contributions 535 Business Expenses 597 Information on the United States–Canada Income Tax Treaty Form (and Instructions) W-7 Application for IRS Individual Taxpayer Identification Number 1040 U. How do you amend tax returns S. How do you amend tax returns Individual Income Tax Return 1040NR U. How do you amend tax returns S. How do you amend tax returns Nonresident Alien Income Tax Return 1040NR-EZ U. How do you amend tax returns S. How do you amend tax returns Income Tax Return for Certain Nonresident Aliens With No Dependents 2106 Employee Business Expenses 2106-EZ Unreimbursed Employee Business Expenses 3903 Moving Expenses 4563 Exclusion of Income for Bona Fide Residents of American Samoa 8959 Additional Medicare Tax See chapter 12 for information about getting these publications and forms. How do you amend tax returns Tax Year You must figure your income and file a tax return on the basis of an annual accounting period called a tax year. How do you amend tax returns If you have not previously established a fiscal tax year, your tax year is the calendar year. How do you amend tax returns A calendar year is 12 consecutive months ending on December 31. How do you amend tax returns If you have previously established a regular fiscal year (12 consecutive months ending on the last day of a month other than December or a 52–53 week year) and are considered to be a U. How do you amend tax returns S. How do you amend tax returns resident for any calendar year, you will be treated as a U. How do you amend tax returns S. How do you amend tax returns resident for any part of your fiscal year that falls within that calendar year. How do you amend tax returns Identification Number A taxpayer identification number must be furnished on returns, statements, and other tax-related documents. How do you amend tax returns For an individual, this is a social security number (SSN). How do you amend tax returns If you do not have and are not eligible to get an SSN, you must apply for an individual taxpayer identification number (ITIN). How do you amend tax returns An employer identification number (EIN) is required if you are engaged in a trade or business as a sole proprietor and have employees or a qualified retirement plan. How do you amend tax returns You must furnish a taxpayer identification number if you are: An alien who has income effectively connected with the conduct of a U. How do you amend tax returns S. How do you amend tax returns trade or business at any time during the year, An alien who has a U. How do you amend tax returns S. How do you amend tax returns office or place of business at any time during the year, A nonresident alien spouse treated as a resident, as discussed in chapter 1, or Any other alien who files a tax return, an amended return, or a refund claim (but not information returns). How do you amend tax returns Social security number (SSN). How do you amend tax returns   Generally, you can get an SSN if you have been lawfully admitted to the United States for permanent residence or under other immigration categories that authorize U. How do you amend tax returns S. How do you amend tax returns employment. How do you amend tax returns   To apply for this number, get Form SS-5, Application for a Social Security Card, from your local Social Security Administration (SSA) office or call the SSA at 1-800-772-1213. How do you amend tax returns You can also download Form SS-5 from the SSA's website at www. How do you amend tax returns socialsecurity. How do you amend tax returns gov/ssnumber/ss5. How do you amend tax returns htm. How do you amend tax returns You must visit an SSA office in person and submit your Form SS-5 along with original documentation showing your age, identity, immigration status, and authority to work in the United States. How do you amend tax returns Generally, you will receive your card about 2 weeks after the SSA has all of the necessary information. How do you amend tax returns F-1 and M-1 visa holders. How do you amend tax returns    If you are an F-1 or M-1 student, you must also show your Form I-20. How do you amend tax returns For more information, see SSA Publication 05-10181, International Students and Social Security Numbers, available online at www. How do you amend tax returns socialsecurity. How do you amend tax returns gov/pubs/10181. How do you amend tax returns html. How do you amend tax returns J-1 visa holders. How do you amend tax returns   If you are a J-1 exchange visitor, you will also need to show your Form DS-2019. How do you amend tax returns For more information, see SSA Publication 05-10107, Foreign Workers and Social Security Numbers, available online at www. How do you amend tax returns socialsecurity. How do you amend tax returns gov/pubs/10107. How do you amend tax returns html. How do you amend tax returns Individual taxpayer identification number (ITIN). How do you amend tax returns   If you do not have and are not eligible to get an SSN, you must apply for an ITIN. How do you amend tax returns For details on how to do so, see Form W-7 and its instructions. How do you amend tax returns Allow 6 to 10 weeks for the IRS to notify you of your ITIN. How do you amend tax returns If you already have an ITIN, enter it wherever an SSN is required on your tax return. How do you amend tax returns   An ITIN is for tax use only. How do you amend tax returns It does not entitle you to social security benefits or change your employment or immigration status under U. How do you amend tax returns S. How do you amend tax returns law. How do you amend tax returns   In addition to those aliens who are required to furnish a taxpayer identification number and are not eligible for an SSN, a Form W-7 must be filed for: Alien individuals who are claimed as dependents and are not eligible for an SSN, and Alien spouses who are claimed as exemptions and are not eligible for an SSN. How do you amend tax returns Employer identification number (EIN). How do you amend tax returns   An individual may use an SSN (or ITIN) for individual taxes and an EIN for business taxes. How do you amend tax returns To apply for an EIN, file Form SS-4, Application for Employer Identification Number, with the IRS. How do you amend tax returns Filing Status The amount of your tax depends on your filing status. How do you amend tax returns Your filing status is important in determining whether you can take certain deductions and credits. How do you amend tax returns The rules for determining your filing status are different for resident aliens and nonresident aliens. How do you amend tax returns Resident Aliens Resident aliens can use the same filing statuses available to U. How do you amend tax returns S. How do you amend tax returns citizens. How do you amend tax returns See your form instructions or Publication 501 for more information on filing status. How do you amend tax returns Married filing jointly. How do you amend tax returns   Generally, you can file as married filing jointly only if both you and your spouse were resident aliens for the entire tax year, or if you make one of the choices discussed in chapter 1 to treat your spouse as a resident alien for the entire tax year. How do you amend tax returns Qualifying widow(er). How do you amend tax returns   If your spouse died in 2011 or 2012, you did not remarry before the end of 2013, and you have a dependent child living with you, you may qualify to file as a qualifying widow(er) and use the joint return tax rates. How do you amend tax returns This applies only if you could have filed a joint return with your spouse for the year your spouse died. How do you amend tax returns Head of household. How do you amend tax returns   You can qualify as head of household if you are unmarried or considered unmarried on the last day of the year and you pay more than half the cost of keeping up a home for you and a qualifying person. How do you amend tax returns You must be a resident alien for the entire tax year. How do you amend tax returns   You are considered unmarried for this purpose if your spouse was a nonresident alien at any time during the year and you do not make one of the choices discussed in chapter 1 to treat your spouse as a resident alien for the entire tax year. How do you amend tax returns Note. How do you amend tax returns   Even if you are considered unmarried for head of household purposes because you are married to a nonresident alien, you may still be considered married for purposes of the earned income credit. How do you amend tax returns In that case, you will not be entitled to the credit. How do you amend tax returns See Publication 596 for more information. How do you amend tax returns Nonresident Aliens If you are a nonresident alien filing Form 1040NR, you may be able to use one of the filing statuses discussed later. How do you amend tax returns If you are filing Form 1040NR-EZ, you can only claim “Single nonresident alien” or “Married nonresident alien” as your filing status. How do you amend tax returns Married nonresident alien. How do you amend tax returns   Married nonresident aliens who are not married to U. How do you amend tax returns S. How do you amend tax returns citizens or residents generally must use the Tax Table column or the Tax Computation Worksheet for married filing separate returns when determining the tax on income effectively connected with a U. How do you amend tax returns S. How do you amend tax returns trade or business. How do you amend tax returns Exceptions. How do you amend tax returns   Married nonresident aliens normally cannot use the Tax Table column or the Tax Computation Worksheet for single individuals. How do you amend tax returns However, you may be able to file as single if you lived apart from your spouse during the last 6 months of the year and you are a married resident of Canada, Mexico, South Korea, or are a married U. How do you amend tax returns S. How do you amend tax returns national. How do you amend tax returns See the instructions for Form 1040NR or Form 1040NR-EZ to see if you qualify. How do you amend tax returns U. How do you amend tax returns S. How do you amend tax returns national is defined later in this section under Qualifying widow(er) . How do you amend tax returns   A nonresident alien generally cannot file as married filing jointly. How do you amend tax returns However, a nonresident alien who is married to a U. How do you amend tax returns S. How do you amend tax returns citizen or resident can choose to be treated as a resident and file a joint return on Form 1040, Form 1040A, or Form 1040EZ. How do you amend tax returns For information on these choices, see chapter 1. How do you amend tax returns If you do not make the choice to file jointly, file Form 1040NR or Form 1040NR-EZ and use the Tax Table column or the Tax Computation Worksheet for married individuals filing separately. How do you amend tax returns Qualifying widow(er). How do you amend tax returns   You may be eligible to file as a qualifying widow(er) and use the joint return tax rates if all of the following conditions apply. How do you amend tax returns You were a resident of Canada, Mexico, or South Korea, or a U. How do you amend tax returns S. How do you amend tax returns national (defined later). How do you amend tax returns Your spouse died in 2011 or 2012 and you did not remarry before the end of 2013. How do you amend tax returns You have a dependent child living with you. How do you amend tax returns See the instructions for Form 1040NR for the rules for filing as a qualifying widow(er) with a dependent child. How do you amend tax returns   A U. How do you amend tax returns S. How do you amend tax returns national is an individual who, although not a U. How do you amend tax returns S. How do you amend tax returns citizen, owes his or her allegiance to the United States. How do you amend tax returns U. How do you amend tax returns S. How do you amend tax returns nationals include American Samoans and Northern Mariana Islanders who chose to become U. How do you amend tax returns S. How do you amend tax returns nationals instead of U. How do you amend tax returns S. How do you amend tax returns citizens. How do you amend tax returns Head of household. How do you amend tax returns   You cannot file as head of household if you are a nonresident alien at any time during the tax year. How do you amend tax returns However, if you are married, your spouse can qualify as a head of household if: Your spouse is a resident alien or U. How do you amend tax returns S. How do you amend tax returns citizen for the entire tax year, You do not choose to be treated as a resident alien, and Your spouse meets the other requirements for this filing status, as discussed earlier under Resident Aliens . How do you amend tax returns Note. How do you amend tax returns   Even if your spouse is considered unmarried for head of household purposes because you are a nonresident alien, your spouse may still be considered married for purposes of the earned income credit. How do you amend tax returns In that case, your spouse will not be entitled to the credit. How do you amend tax returns See Publication 596 for more information. How do you amend tax returns Estates and trusts. How do you amend tax returns   A nonresident alien estate or trust using Form 1040NR must use Tax Rate Schedule W in the Form 1040NR instructions when determining the tax on income effectively connected with a U. How do you amend tax returns S. How do you amend tax returns trade or business. How do you amend tax returns Special rules for aliens from certain U. How do you amend tax returns S. How do you amend tax returns possessions. How do you amend tax returns   A nonresident alien who is a bona fide resident of American Samoa or Puerto Rico for the entire tax year and who is temporarily working in the United States should read Bona Fide Residents of American Samoa or Puerto Rico, at the end of this chapter, for information about special rules. How do you amend tax returns Reporting Your Income You must report each item of income that is taxable according to the rules in chapters 2, 3, and 4. How do you amend tax returns For resident aliens, this includes income from sources both within and outside the United States. How do you amend tax returns For nonresident aliens, this includes both income that is effectively connected with a trade or business in the United States (subject to graduated tax rates) and income from U. How do you amend tax returns S. How do you amend tax returns sources that is not effectively connected (subject to a flat 30% tax rate or lower tax treaty rate). How do you amend tax returns Deductions Resident and nonresident aliens can claim similar deductions on their U. How do you amend tax returns S. How do you amend tax returns tax returns. How do you amend tax returns However, nonresident aliens generally can claim only deductions related to income that is effectively connected with their U. How do you amend tax returns S. How do you amend tax returns trade or business. How do you amend tax returns Resident Aliens You can claim the same deductions allowed to U. How do you amend tax returns S. How do you amend tax returns citizens if you are a resident alien for the entire tax year. How do you amend tax returns While the discussion that follows contains some of the same general rules and guidelines that apply to you, it is specifically directed toward nonresident aliens. How do you amend tax returns You should get Form 1040 and instructions for more information on how to claim your allowable deductions. How do you amend tax returns Nonresident Aliens You can claim deductions to figure your effectively connected taxable income. How do you amend tax returns You generally cannot claim deductions related to income that is not connected with your U. How do you amend tax returns S. How do you amend tax returns business activities. How do you amend tax returns Except for personal exemptions, and certain itemized deductions, discussed later, you can claim deductions only to the extent they are connected with your effectively connected income. How do you amend tax returns Ordinary and necessary business expenses. How do you amend tax returns   You can deduct all ordinary and necessary expenses in the operation of your U. How do you amend tax returns S. How do you amend tax returns trade or business to the extent they relate to income effectively connected with that trade or business. How do you amend tax returns The deduction for travel expenses while in the United States is discussed under Itemized Deductions, later. How do you amend tax returns For information about other business expenses, see Publication 535. How do you amend tax returns Losses. How do you amend tax returns   You can deduct losses resulting from transactions that you entered into for profit and that you were not reimbursed for by insurance, etc. How do you amend tax returns to the extent that they relate to income that is effectively connected with a trade or business in the United States. How do you amend tax returns Educator expenses. How do you amend tax returns   If you were an eligible educator in 2013, you can deduct as an adjustment to income up to $250 in unreimbursed qualified expenses you paid or incurred during 2013 for books, supplies (other than nonathletic supplies for courses of instruction in health or physical education), computer equipment, and other equipment and materials used in the classroom. How do you amend tax returns For more information, see your tax form instructions. How do you amend tax returns Individual retirement arrangement (IRA). How do you amend tax returns   If you made contributions to a traditional IRA for 2013, you may be able to take an IRA deduction. How do you amend tax returns But you must have taxable compensation effectively connected with a U. How do you amend tax returns S. How do you amend tax returns trade or business to do so. How do you amend tax returns A Form 5498 should be sent to you by May 31, 2014, that shows all contributions to your traditional IRA for 2013. How do you amend tax returns If you were covered by a retirement plan (qualified pension, profit-sharing (including 401(k)), annuity, SEP, SIMPLE, etc. How do you amend tax returns ) at work or through self-employment, your IRA deduction may be reduced or eliminated. How do you amend tax returns But you can still make contributions to a traditional IRA even if you cannot deduct them. How do you amend tax returns If you made nondeductible contributions to a traditional IRA for 2013, you must report them on Form 8606, Nondeductible IRAs. How do you amend tax returns   For more information, see Publication 590, Individual Retirement Arrangements (IRAs). How do you amend tax returns Moving expenses. How do you amend tax returns   If you are a nonresident alien temporarily in the United States earning taxable income for performing personal services, you can deduct moving expenses to the United States if you meet both of the following tests. How do you amend tax returns You are a full-time employee for at least 39 weeks during the 12 months right after you move, or if you are self-employed, you work full time for at least 39 weeks during the first 12 months and 78 weeks during the first 24 months right after you move. How do you amend tax returns Your new job location is at least 50 miles farther (by the shortest commonly traveled route) from your former home than your former job location was. How do you amend tax returns If you had no former job location, the new job location must be at least 50 miles from your former home. How do you amend tax returns   You cannot deduct the moving expense you have when returning to your home abroad or moving to a foreign job site. How do you amend tax returns   Figure your deductible moving expenses to the United States on Form 3903, and deduct them on line 26 of Form 1040NR. How do you amend tax returns   For more information on the moving expense deduction, see Publication 521. How do you amend tax returns Reimbursements. How do you amend tax returns   If your employer reimbursed you for allowable moving expenses under an accountable plan, your employer should have excluded these reimbursements from your income. How do you amend tax returns You can only deduct allowable moving expenses that were not reimbursed by your employer or that were reimbursed but the reimbursement was included in your income. How do you amend tax returns For more information, see Publication 521. How do you amend tax returns Moving expense or travel expense. How do you amend tax returns   If you deduct moving expenses to the United States, you cannot also deduct travel expenses (discussed later under Itemized Deductions) while temporarily away from your tax home in a foreign country. How do you amend tax returns Moving expenses are based on a change in your principal place of business while travel expenses are based on your temporary absence from your principal place of business. How do you amend tax returns Self-employed SEP, SIMPLE, and qualified retirement plans. How do you amend tax returns   If you are self-employed, you may be able to deduct contributions to a SEP, SIMPLE, or qualified retirement plan that provides retirement benefits for yourself and your common-law employees, if any. How do you amend tax returns To make deductible contributions for yourself, you must have net earnings from self-employment that are effectively connected with your U. How do you amend tax returns S. How do you amend tax returns trade or business. How do you amend tax returns   Get Publication 560, Retirement Plans for Small Business (SEP, SIMPLE, and Qualified Plans), for further information. How do you amend tax returns Penalty on early withdrawal of savings. How do you amend tax returns   You must include in income all effectively connected interest income you receive or that is credited to your account during the year. How do you amend tax returns Do not reduce it by any penalty you must pay on an early withdrawal from a time savings account. How do you amend tax returns However, if the interest income is effectively connected with your U. How do you amend tax returns S. How do you amend tax returns trade or business during the year, you can deduct on line 30 of Form 1040NR the amount of the early withdrawal penalty that the banking institution charged. How do you amend tax returns Student loan interest expense. How do you amend tax returns   If you paid interest on a student loan in 2013, you may be able to deduct up to $2,500 of the interest you paid. How do you amend tax returns Generally, you can claim the deduction if all the following requirements are met. How do you amend tax returns Your filing status is any filing status except married filing separately. How do you amend tax returns Your modified adjusted gross income is less than $75,000. How do you amend tax returns No one else is claiming an exemption for you on his or her 2013 tax return. How do you amend tax returns You paid interest on a loan taken out only to pay tuition and other qualified higher education expenses for yourself, your spouse, someone who was your dependent when the loan was taken out, or someone you could have claimed as a dependent for the year the loan was taken out except that: The person filed a joint return, The person had gross income that was equal to or more than the exemption amount for that year ($3,900 for 2013), or You could be claimed as a dependent on someone else's return. How do you amend tax returns The loan is not from a related person or a person who borrowed the proceeds under a qualified employer plan or a contract purchased under such a plan. How do you amend tax returns The education expenses were paid or incurred within a reasonable period of time before or after the loan was taken out. How do you amend tax returns The person for whom the expenses were paid or incurred was an eligible student. How do you amend tax returns Use the worksheet in the Form 1040NR or Form 1040NR-EZ instructions to figure the deduction. How do you amend tax returns For more information, see Publication 970, Tax Benefits for Education. How do you amend tax returns Exemptions Resident aliens can claim personal exemptions and exemptions for dependents in the same way as U. How do you amend tax returns S. How do you amend tax returns citizens. How do you amend tax returns However, nonresident aliens generally can claim only a personal exemption for themselves on their U. How do you amend tax returns S. How do you amend tax returns tax return. How do you amend tax returns Resident Aliens You can claim personal exemptions and exemptions for dependents according to the dependency rules for U. How do you amend tax returns S. How do you amend tax returns citizens. How do you amend tax returns You can claim an exemption for your spouse on a separate return if your spouse had no gross income for U. How do you amend tax returns S. How do you amend tax returns tax purposes and was not the dependent of another taxpayer. How do you amend tax returns You can claim this exemption even if your spouse has not been a resident alien for a full tax year or is an alien who has not come to the United States. How do you amend tax returns You can claim an exemption for each person who qualifies as a dependent according to the rules for U. How do you amend tax returns S. How do you amend tax returns citizens. How do you amend tax returns The dependent must be a citizen or national (defined earlier) of the United States or be a resident of the United States, Canada, or Mexico for some part of the calendar year in which your tax year begins. How do you amend tax returns Get Publication 501 for more information. How do you amend tax returns Your spouse and each dependent for whom you claim an exemption must have either an SSN or an ITIN. How do you amend tax returns See Identification Number, earlier. How do you amend tax returns Nonresident Aliens Generally, if you are a nonresident alien engaged in a trade or business in the United States, you can claim only one personal exemption ($3,900 for 2013). How do you amend tax returns You may be able to claim an exemption for a spouse and a dependent if you are described in any of the following discussions. How do you amend tax returns Your spouse and each dependent for whom you claim an exemption must have either an SSN or an ITIN. How do you amend tax returns See Identification Number, earlier. How do you amend tax returns Residents of Mexico or Canada or U. How do you amend tax returns S. How do you amend tax returns nationals. How do you amend tax returns   If you are a resident of Mexico or Canada or a national of the United States (defined earlier), you can also claim a personal exemption for your spouse if your spouse had no gross income for U. How do you amend tax returns S. How do you amend tax returns tax purposes and cannot be claimed as the dependent on another U. How do you amend tax returns S. How do you amend tax returns taxpayer's return. How do you amend tax returns In addition, you can claim exemptions for your dependents who meet certain tests. How do you amend tax returns Residents of Mexico, Canada, or nationals of the United States must use the same rules as U. How do you amend tax returns S. How do you amend tax returns citizens to determine who is a dependent and for which dependents exemptions can be claimed. How do you amend tax returns See Publication 501 for these rules. How do you amend tax returns For purposes of these rules, dependents who are U. How do you amend tax returns S. How do you amend tax returns nationals meet the citizenship test discussed in Publication 501. How do you amend tax returns Residents of South Korea. How do you amend tax returns   Nonresident aliens who are residents of South Korea may be able to claim exemptions for a spouse and children. How do you amend tax returns The income tax treaty with South Korea imposes two additional requirements on South Korean residents: The spouse and all children claimed must live with the alien in the United States at some time during the tax year, and The additional deduction for the exemptions must be prorated based on the ratio of the alien's U. How do you amend tax returns S. How do you amend tax returns source gross income effectively connected with a U. How do you amend tax returns S. How do you amend tax returns trade or business for the tax year to the alien's entire income from all sources during the tax year. How do you amend tax returns Example. How do you amend tax returns Mr. How do you amend tax returns Park, a nonresident alien who is a resident of South Korea, lives temporarily in the United States with his wife and two children. How do you amend tax returns During the tax year he receives U. How do you amend tax returns S. How do you amend tax returns compensation of $18,000. How do you amend tax returns He also receives $6,000 of income from sources outside the United States that is not effectively connected with his U. How do you amend tax returns S. How do you amend tax returns trade or business. How do you amend tax returns Thus, his total income for the year is $24,000. How do you amend tax returns Mr. How do you amend tax returns Park meets all requirements for claiming exemptions for his spouse and two children. How do you amend tax returns The additional deduction for 2013 is $8,775 figured as follows: $18,000 $24,000 × $11,700* = $8,775               *3 × $3,900 = $11,700   Students and business apprentices from India. How do you amend tax returns   Students and business apprentices who are eligible for the benefits of Article 21(2) of the United States–India Income Tax Treaty may be able to claim exemptions for their spouse and dependents. How do you amend tax returns   You can claim an exemption for your spouse if he or she had no gross income during the year and cannot be claimed as a dependent on another U. How do you amend tax returns S. How do you amend tax returns taxpayer's return. How do you amend tax returns   You can claim exemptions for each of your dependents not admitted to the United States on “F-2,” “J-2,” or “M-2” visas if they meet the same rules that apply to U. How do you amend tax returns S. How do you amend tax returns citizens. How do you amend tax returns See Publication 501 for these rules. How do you amend tax returns   List your spouse and dependents on line 7c of Form 1040NR. How do you amend tax returns Enter the total on the appropriate line to the right of line 7c. How do you amend tax returns Itemized Deductions Nonresident aliens can claim some of the same itemized deductions that resident aliens can claim. How do you amend tax returns However, nonresident aliens can claim itemized deductions only if they have income effectively connected with their U. How do you amend tax returns S. How do you amend tax returns trade or business. How do you amend tax returns Resident Aliens You can claim the same itemized deductions as U. How do you amend tax returns S. How do you amend tax returns citizens, using Schedule A of Form 1040. How do you amend tax returns These deductions include certain medical and dental expenses, state and local income taxes, real estate taxes, interest you paid on a home mortgage, charitable contributions, casualty and theft losses, and miscellaneous deductions. How do you amend tax returns If you do not itemize your deductions, you can claim the standard deduction for your particular filing status. How do you amend tax returns For further information, see Form 1040 and instructions. How do you amend tax returns Nonresident Aliens You can deduct certain itemized deductions if you receive income effectively connected with your U. How do you amend tax returns S. How do you amend tax returns trade or business. How do you amend tax returns These deductions include state and local income taxes, charitable contributions to U. How do you amend tax returns S. How do you amend tax returns organizations, casualty and theft losses, and miscellaneous deductions. How do you amend tax returns Use Schedule A of Form 1040NR to claim itemized deductions. How do you amend tax returns If you are filing Form 1040NR-EZ, you can only claim a deduction for state or local income taxes. How do you amend tax returns If you are claiming any other itemized deduction, you must file Form 1040NR. How do you amend tax returns Standard deduction. How do you amend tax returns   Nonresident aliens cannot claim the standard deduction. How do you amend tax returns However, see Students and business apprentices from India , next. How do you amend tax returns Students and business apprentices from India. How do you amend tax returns   A special rule applies to students and business apprentices who are eligible for the benefits of Article 21(2) of the United States–India Income Tax Treaty. How do you amend tax returns You can claim the standard deduction provided you do not claim itemized deductions. How do you amend tax returns   Use Worksheet 5-1 to figure your standard deduction. How do you amend tax returns If you are married and your spouse files a return and itemizes deductions, you cannot take the standard deduction. How do you amend tax returns State and local income taxes. How do you amend tax returns   You can deduct state and local income taxes you paid on income that is effectively connected with a trade or business in the United States. How do you amend tax returns If you received a refund or rebate in 2013 of taxes you paid in an earlier year, do not reduce your deduction by that amount. How do you amend tax returns Instead, you must include the refund or rebate in income if you deducted the taxes in the earlier year and the deduction reduced your tax. How do you amend tax returns See Recoveries in Publication 525 for details on how to figure the amount to include in income. How do you amend tax returns Charitable contributions. How do you amend tax returns   You can deduct your charitable contributions or gifts to qualified organizations subject to certain limits. How do you amend tax returns Qualified organizations include organizations that are religious, charitable, educational, scientific, or literary in nature, or that work to prevent cruelty to children or animals. How do you amend tax returns Certain organizations that promote national or international amateur sports competition are also qualified organizations. How do you amend tax returns Foreign organizations. How do you amend tax returns   Contributions made directly to a foreign organization are not deductible. How do you amend tax returns However, you can deduct contributions to a U. How do you amend tax returns S. How do you amend tax returns organization that transfers funds to a charitable foreign organization if the U. How do you amend tax returns S. How do you amend tax returns organization controls the use of the funds or if the foreign organization is only an administrative arm of the U. How do you amend tax returns S. How do you amend tax returns organization. How do you amend tax returns   For more information about organizations that qualify to receive charitable contributions, see Publication 526, Charitable Contributions. How do you amend tax returns Worksheet 5-1. How do you amend tax returns 2013 Standard Deduction Worksheet for Students and Business Apprentices From India Caution. How do you amend tax returns If you are married filing a separate return and your spouse itemizes deductions, do not complete this worksheet. How do you amend tax returns You cannot take the standard deduction even if you were born before January 2, 1949, or are blind. How do you amend tax returns 1 Enter the amount shown below for your filing status. How do you amend tax returns           Single or married filing separately—$6,100 Qualifying widow(er)—$12,200 1. How do you amend tax returns           2 Can you be claimed as a dependent on someone else's U. How do you amend tax returns S. How do you amend tax returns income tax return?  No. How do you amend tax returns Enter the amount from line 1 on line 4. How do you amend tax returns Skip line 3 and go to line 5. How do you amend tax returns   Yes. How do you amend tax returns Go to line 3. How do you amend tax returns         3 Is your earned income* more than $650?           Yes. How do you amend tax returns Add $350 to your earned income. How do you amend tax returns Enter the total. How do you amend tax returns           No. How do you amend tax returns Enter $1,000 3. How do you amend tax returns       4 Enter the smaller of line 1 or line 3 4. How do you amend tax returns   5 If born before January 2, 1949, OR blind, enter $1,200 ($1,500 if single). How do you amend tax returns If born before January 2, 1949, AND blind, enter $2,400 ($3,000 if single). How do you amend tax returns Otherwise, enter -0- 5. How do you amend tax returns   6 Add lines 4 and 5. How do you amend tax returns Enter the total here and on Form 1040NR, line 38 (or Form 1040NR-EZ, line 11). How do you amend tax returns Print “Standard Deduction Allowed Under U. How do you amend tax returns S. How do you amend tax returns –India Income Tax Treaty” in the space to the left of these lines. How do you amend tax returns This is your standard deduction for 2013. How do you amend tax returns 6. How do you amend tax returns   *Earned income includes wages, salaries, tips, professional fees, and other compensation received for personal services you performed. How do you amend tax returns It also includes any amount received as a scholarship that you must include in your income. How do you amend tax returns Generally, your earned income is the total of the amount(s) you reported on Form 1040NR, lines 8,12,13, and 19, minus amounts on lines 27 and 31 (or Form 1040NR-EZ, lines 3 and 5, minus any amount on line 8). How do you amend tax returns Contributions from which you benefit. How do you amend tax returns   If you receive a benefit as a result of making a contribution to a qualified organization, you can deduct only the amount of your contribution that is more than the value of the benefit you receive. How do you amend tax returns   If you pay more than the fair market value to a qualified organization for merchandise, goods, or services, the amount you pay that is more than the value of the item can be a charitable contribution. How do you amend tax returns For the excess amount to qualify, you must pay it with the intent to make a charitable contribution. How do you amend tax returns Cash contributions. How do you amend tax returns   You cannot deduct a cash contribution, regardless of the amount, unless you keep as a record of the contribution a bank record (such as a canceled check, a bank copy of a canceled check, or a bank statement containing the name of the charity, the date, and the amount) or a written record from the charity. How do you amend tax returns The written record must include the name of the charity, date of the contribution, and the amount of the contribution. How do you amend tax returns   You may deduct a cash contribution of $250 or more only if you have a written statement from the charitable organization showing: The amount of any money contributed, Whether the organization gave you any goods or services in return for your contribution, and A description and estimate of the value of any goods or services described in (2). How do you amend tax returns If you received only intangible religious benefits, the organization must state this, but it does not have to describe or value the benefit. How do you amend tax returns Noncash contributions. How do you amend tax returns   For contributions not made in cash, the records you must keep depend on the amount of your deduction. How do you amend tax returns See Publication 526 for details. How do you amend tax returns For example, if you make a noncash contribution and the amount of your deduction is more than $500, you must complete and attach to your tax return Form 8283, Noncash Charitable Contributions. How do you amend tax returns If you deduct more than $500 for a contribution of a motor vehicle, boat, or airplane, you must also attach a statement from the charitable organization to your return. How do you amend tax returns If your total deduction is over $5,000, you also may have to get appraisals of the values of the property. How do you amend tax returns If the donated property is valued at more than $5,000, you must obtain a qualified appraisal. How do you amend tax returns You generally must attach to your tax return an appraisal of any property if your deduction for the property is more than $500,000. How do you amend tax returns See Form 8283 and its instructions for details. How do you amend tax returns Contributions of appreciated property. How do you amend tax returns   If you contribute property to a qualified organization, the amount of your charitable contribution is generally the fair market value of the property at the time of the contribution. How do you amend tax returns However, if you contribute property with a fair market value that is more than your basis in it, you may have to reduce the fair market value by the amount of appreciation (increase in value) when you figure your deduction. How do you amend tax returns Your basis in the property is generally what you paid for it. How do you amend tax returns If you need more information about basis, get Publication 551, Basis of Assets. How do you amend tax returns   Different rules apply to figuring your deduction, depending on whether the property is: Ordinary income property, or Capital gain property. How do you amend tax returns For information about these rules, see Publication 526. How do you amend tax returns Limit. How do you amend tax returns   The amount you can deduct in a tax year is limited in the same way it is for a citizen or resident of the United States. How do you amend tax returns For a discussion of limits on charitable contributions and other information, get Publication 526. How do you amend tax returns Casualty and theft losses. How do you amend tax returns   You can deduct your loss from fire, storm, shipwreck, or other casualty, or theft of property even though your property is not connected with a U. How do you amend tax returns S. How do you amend tax returns trade or business. How do you amend tax returns The property can be personal use property or income-producing property not connected with a U. How do you amend tax returns S. How do you amend tax returns trade or business. How do you amend tax returns The property must be located in the United States at the time of the casualty or theft. How do you amend tax returns You can deduct theft losses only in the year in which you discover the loss. How do you amend tax returns   The amount of the loss is the fair market value of the property immediately before the casualty or theft less its fair market value immediately after the casualty or theft (but not more than its cost or adjusted basis) less any insurance or other reimbursement. How do you amend tax returns The fair market value of property immediately after a theft is considered zero, because you no longer have the property. How do you amend tax returns   If your property is covered by insurance, you should file a timely insurance claim for reimbursement. How do you amend tax returns If you do not, you cannot deduct this loss as a casualty or theft loss. How do you amend tax returns   Figure your deductible casualty and theft losses on Form 4684, Casualties and Thefts. How do you amend tax returns Losses from personal use property. How do you amend tax returns    You cannot deduct the first $100 of each casualty or theft loss to property held for personal use. How do you amend tax returns You can deduct only the total of these losses for the year (reduced by the $100 limit) that is more than 10% of your adjusted gross income (line 37, Form 1040NR) for the year. How do you amend tax returns Losses from income-producing property. How do you amend tax returns   These losses are not subject to the limitations that apply to personal use property. How do you amend tax returns Use Section B of Form 4684 to figure your deduction for these losses. How do you amend tax returns Job expenses and other miscellaneous deductions. How do you amend tax returns   You can deduct job expenses, such as allowable unreimbursed travel expenses (discussed next), and other miscellaneous deductions. How do you amend tax returns Generally, the allowable deductions must be related to effectively connected income. How do you amend tax returns Deductible expenses include: Union dues, Safety equipment and small tools needed for your job, Dues to professional organizations, Subscriptions to professional journals, Tax return preparation fees, and Casualty and theft losses of property used in performing services as an employee (employee property). How do you amend tax returns   Most miscellaneous itemized deductions are deductible only if they are more than 2% of your adjusted gross income (line 37, Form 1040NR). How do you amend tax returns For more information on miscellaneous deductions, see the instructions for Form 1040NR. How do you amend tax returns Travel expenses. How do you amend tax returns   You may be able to deduct your ordinary and necessary travel expenses while you are temporarily performing personal services in the United States. How do you amend tax returns Generally, a temporary assignment in a single location is one that is realistically expected to last (and does in fact last) for one year or less. How do you amend tax returns You must be able to show you were present in the United States on an activity that required your temporary absence from your regular place of work. How do you amend tax returns   For example, if you have established a “tax home” through regular employment in a foreign country, and intend to return to similar employment in the same country at the end of your temporary stay in the United States, you can deduct reasonable travel expenses you paid. How do you amend tax returns You cannot deduct travel expenses for other members of your family or party. How do you amend tax returns Deductible travel expenses. How do you amend tax returns   If you qualify, you can deduct your expenses for: Transportation—airfare, local transportation, including train, bus, etc. How do you amend tax returns , Lodging—rent paid, utilities (do not include telephone), hotel or motel room expenses, and Meal expenses—actual expenses allowed if you keep records of the amounts, or, if you do not wish to keep detailed records, you are generally allowed a standard meal allowance amount depending on the date and area of your travel. How do you amend tax returns You generally can deduct only 50% of unreimbursed meal expenses. How do you amend tax returns The standard meal allowance rates for high-cost areas are available at www. How do you amend tax returns gsa. How do you amend tax returns gov/perdiem. How do you amend tax returns The rates for other areas are in Publication 463. How do you amend tax returns   Use Form 2106 or 2106-EZ to figure your allowable expenses that you claim on line 7 of Schedule A (Form 1040NR). How do you amend tax returns Expenses allocable to U. How do you amend tax returns S. How do you amend tax returns tax-exempt income. How do you amend tax returns   You cannot deduct an expense, or part of an expense, that is allocable to U. How do you amend tax returns S. How do you amend tax returns tax-exempt income, including income exempt by tax treaty. How do you amend tax returns Example. How do you amend tax returns Irina Oak, a citizen of Poland, resided in the United States for part of the year to acquire business experience from a U. How do you amend tax returns S. How do you amend tax returns company. How do you amend tax returns During her stay in the United States, she received a salary of $8,000 from her Polish employer. How do you amend tax returns She received no other U. How do you amend tax returns S. How do you amend tax returns source income. How do you amend tax returns She spent $3,000 on travel expenses, of which $1,000 were for meals. How do you amend tax returns None of these expenses were reimbursed. How do you amend tax returns Under the tax treaty with Poland, $5,000 of her salary is exempt from U. How do you amend tax returns S. How do you amend tax returns income tax. How do you amend tax returns In filling out Form 2106-EZ, she must reduce her deductible meal expenses by half ($500). How do you amend tax returns She must reduce the remaining $2,500 of travel expenses by 62. How do you amend tax returns 5% ($1,563) because 62. How do you amend tax returns 5% ($5,000 ÷ $8,000) of her salary is exempt from tax. How do you amend tax returns She enters the remaining total of $937 on line 7 of Schedule A (Form 1040NR). How do you amend tax returns She completes the remaining lines according to the instructions for Schedule A. How do you amend tax returns More information. How do you amend tax returns   For more information about deductible expenses, reimbursements, and recordkeeping, get Publication 463. How do you amend tax returns Tax Credits and Payments This discussion covers tax credits and payments for resident aliens, followed by a discussion of the credits and payments for nonresident aliens. How do you amend tax returns Resident Aliens Resident aliens generally claim tax credits and report tax payments, including withholding, using the same rules that apply to U. How do you amend tax returns S. How do you amend tax returns citizens. How do you amend tax returns The following items are some of the credits you may be able to claim. How do you amend tax returns Foreign tax credit. How do you amend tax returns   You can claim a credit, subject to certain limits, for income tax you paid or accrued to a foreign country on foreign source income. How do you amend tax returns You cannot claim a credit for taxes paid or accrued on excluded foreign earned income. How do you amend tax returns To claim a credit for income taxes paid or accrued to a foreign country, you generally will file Form 1116, Foreign Tax Credit (Individual, Estate, or Trust), with your Form 1040. How do you amend tax returns   For more information, get Publication 514, Foreign Tax Credit for Individuals. How do you amend tax returns Child and dependent care credit. How do you amend tax returns   You may be able to take this credit if you pay someone to care for your qualifying child who is under age 13, or your disabled dependent or disabled spouse, so that you can work or look for work. How do you amend tax returns Generally, you must be able to claim an exemption for your dependent. How do you amend tax returns   For more information, get Publication 503, Child and Dependent Care Expenses, and Form 2441, Child and Dependent Care Expenses. How do you amend tax returns Credit for the elderly or the disabled. How do you amend tax returns   You may qualify for this credit if you are 65 or older or if you retired on permanent and total disability. How do you amend tax returns For more information on this credit, get Publication 524, Credit for the Elderly or the Disabled, and Schedule R (Form 1040A or 1040). How do you amend tax returns Education credits. How do you amend tax returns   You may qualify for these credits if you paid qualified education expenses for yourself, your spouse, or your dependent. How do you amend tax returns There are two education credits: the American Opportunity Credit and the lifetime learning credit. How do you amend tax returns You cannot claim these credits if you are married filing separately. How do you amend tax returns Use Form 8863, Education Credits (American Opportunity and Lifetime Learning Credits), to figure the credit. How do you amend tax returns For more information, see Publication 970. How do you amend tax returns Retirement savings contributions credit. How do you amend tax returns   You may qualify for this credit (also known as the saver's credit) if you made eligible contributions to an employer-sponsored retirement plan or to an individual retirement arrangement (IRA) in 2013. How do you amend tax returns You cannot claim this credit if: You were born after January 1, 1996, You were a full-time student, Your exemption is claimed by someone else on his or her 2013 tax return, or Your adjusted gross income is more than: $59,000, if your filing status is married filing jointly, $44,250, if your filing status is head of household, or $29,500, if your filing status is single, married filing separately, or qualifying widow(er). How do you amend tax returns Use Form 8880, Credit for Qualified Retirement Savings Contributions, to figure the credit. How do you amend tax returns For more information, see Publication 590. How do you amend tax returns Child tax credit. How do you amend tax returns   You may be able to take this credit if you have a qualifying child. How do you amend tax returns   A qualifying child for purposes of the child tax credit is a child who: Was under age 17 at the end of 2013. How do you amend tax returns Is your son, daughter, stepchild, foster child, brother, sister, stepbrother, stepsister, half brother, half sister, or a descendant of any of them (for example, your grandchild, niece, or nephew). How do you amend tax returns Is a U. How do you amend tax returns S. How do you amend tax returns citizen, a U. How do you amend tax returns S. How do you amend tax returns national, or a resident alien. How do you amend tax returns Did not provide over half of his or her own support for 2013. How do you amend tax returns Lived with you more than half of 2013. How do you amend tax returns Temporary absences, such as for school, vacation, or medical care, count as time lived in the home. How do you amend tax returns Is claimed as a dependent on your return. How do you amend tax returns An adopted child is always treated as your own child. How do you amend tax returns An adopted child includes a child lawfully placed with you for legal adoption. How do you amend tax returns   See your form instructions for additional details. How do you amend tax returns Adoption credit. How do you amend tax returns   You may qualify to take a tax credit of up to $12,970 for qualifying expenses paid to adopt an eligible child. How do you amend tax returns This amount may be allowed for the adoption of a child with special needs regardless of whether you have qualifying expenses. How do you amend tax returns To claim the adoption credit, file Form 8839, Qualified Adoption Expenses, with your Form 1040. How do you amend tax returns Earned income credit. How do you amend tax returns   You may qualify for an earned income credit of up to $3,250 if a child lived with you in the United States and your earned income and adjusted gross income were each less than $37,870 ($43,210 if married filing jointly). How do you amend tax returns If two children lived with you in the United States and your earned income and adjusted gross income were each less than $43,038 ($48,378 if married filing jointly), your credit could be as much as $5,372. How do you amend tax returns If three or more children lived with you in the United States and your earned income and adjusted gross income were each less than $46,227 ($51,567 if married filing jointly), your credit could be as much as $6,044. How do you amend tax returns If you do not have a qualifying child and your earned income and adjusted gross income were each less than $14,340 ($19,680 if married filing jointly), your credit could be as much as $487. How do you amend tax returns You cannot claim the earned income credit if your filing status is married filing separately. How do you amend tax returns    You and your spouse (if filing a joint return) and any qualifying child must have valid SSNs to claim this credit. How do you amend tax returns You cannot claim the credit using an ITIN. How do you amend tax returns If a social security card has a legend that says Not Valid for Employment and the number was issued so that you (or your spouse or your qualifying child) could receive a federally funded benefit, you cannot claim the earned income credit. How do you amend tax returns An example of a federally funded benefit is Medicaid. How do you amend tax returns If a card has this legend and the individual's immigration status has changed so that the individual is now a U. How do you amend tax returns S. How do you amend tax returns citizen or lawful permanent resident, ask the SSA to issue a new social security card without the legend. How do you amend tax returns Other information. How do you amend tax returns   There are other eligibility rules that are not discussed here. How do you amend tax returns For more information, get Publication 596, Earned Income Credit. How do you amend tax returns Nonresident Aliens You can claim some of the same credits that resident aliens can claim. How do you amend tax returns You can also report certain taxes you paid, are considered to have paid, or that were withheld from your income. How do you amend tax returns Credits Credits are allowed only if you receive effectively connected income. How do you amend tax returns You may be able to claim some of the following credits. How do you amend tax returns Foreign tax credit. How do you amend tax returns   If you receive foreign source income that is effectively connected with a trade or business in the United States, you can claim a credit for any income taxes paid or accrued to any foreign country or U. How do you amend tax returns S. How do you amend tax returns possession on that income. How do you amend tax returns   If you do not have foreign source income effectively connected with a U. How do you amend tax returns S. How do you amend tax returns trade or business, you cannot claim credits against your U. How do you amend tax returns S. How do you amend tax returns tax for taxes paid or accrued to a foreign country or U. How do you amend tax returns S. How do you amend tax returns possession. How do you amend tax returns   You cannot take any credit for taxes imposed by a foreign country or U. How do you amend tax returns S. How do you amend tax returns possession on your U. How do you amend tax returns S. How do you amend tax returns source income if those taxes were imposed only because you are a citizen or resident of the foreign country or possession. How do you amend tax returns   If you claim a foreign tax credit, you generally will have to attach to your return a Form 1116. How do you amend tax returns See Publication 514 for more information. How do you amend tax returns Child and dependent care credit. How do you amend tax returns   You may qualify for this credit if you pay someone to care for your qualifying child who is under age 13, or your disabled dependent or disabled spouse, so that you can work or look for work. How do you amend tax returns Generally, you must be able to claim an exemption for your dependent. How do you amend tax returns   Married nonresident aliens can claim the credit only if they choose to file a joint return with a U. How do you amend tax returns S. How do you amend tax returns citizen or resident spouse as discussed in chapter 1, or if they qualify as certain married individuals living apart (see Joint Return Test in Publication 503). How do you amend tax returns   The amount of your child and dependent care expense that qualifies for the credit in any tax year cannot be more than your earned income from the United States for that tax year. How do you amend tax returns Earned income generally means wages, salaries, and professional fees for personal services performed. How do you amend tax returns   For more information, get Publication 503. How do you amend tax returns Education credits. How do you amend tax returns   If you are a nonresident alien for any part of the year, you generally cannot claim the education credits. How do you amend tax returns However, if you are married and choose to file a joint return with a U. How do you amend tax returns S. How do you amend tax returns citizen or resident spouse as discussed in chapter 1, you may be eligible for these credits. How do you amend tax returns Retirement savings contributions credit. How do you amend tax returns   You may qualify for this credit (also known as the saver's credit) if you made eligible contributions to an employer-sponsored retirement plan or to an individual retirement arrangement (IRA) in 2013. How do you amend tax returns You cannot claim this credit if: You were born after January 1, 1996, You were a full-time student, Your exemption is claimed by someone else on his or her 2013 tax return, or Your adjusted gross income is more than $29,500. How do you amend tax returns Use Form 8880 to figure the credit. How do you amend tax returns For more information, see Publication 590. How do you amend tax returns Child tax credit. How do you amend tax returns   You may be able to take this credit if you have a qualifying child. How do you amend tax returns   A qualifying child for purposes of the child tax credit is a child who: Was under age 17 at the end of 2013. How do you amend tax returns Is your son, daughter, stepchild, foster child, brother, sister, stepbrother, stepsister, half brother, half sister, or a descendant of any of them (for example, your grandchild, niece, or nephew). How do you amend tax returns Is a U. How do you amend tax returns S. How do you amend tax returns citizen, a U. How do you amend tax returns S. How do you amend tax returns national, or a resident alien. How do you amend tax returns Did not provide over half of his or her own support for 2013. How do you amend tax returns Lived with you more than half of 2013. How do you amend tax returns Temporary absences, such as for school, vacation, or medical care, count as time lived in the home. How do you amend tax returns Is claimed as a dependent on your return. How do you amend tax returns An adopted child is always treated as your own child. How do you amend tax returns An adopted child includes a child lawfully placed with you for legal adoption. How do you amend tax returns   See your form instructions for additional details. How do you amend tax returns Adoption credit. How do you amend tax returns   You may qualify to take a tax credit of up to $12,970 for qualifying expenses paid to adopt an eligible child. How do you amend tax returns This amount may be allowed for the adoption of a child with special needs regardless of whether you have qualifying expenses. How do you amend tax returns To claim the adoption credit, file Form 8839 with your Form 1040NR. How do you amend tax returns   Married nonresident aliens can claim the credit only if they choose to file a joint return with a U. How do you amend tax returns S. How do you amend tax returns citizen or resident spouse as discussed in chapter 1, or if they qualify as certain married individuals living apart (see Married Persons Not Filing Jointly in the Form 8839 instructions). How do you amend tax returns Credit for prior year minimum tax. How do you amend tax returns   If you paid alternative minimum tax in a prior year, get Form 8801, Credit for Prior Year Minimum Tax—Individuals, Estates, and Trusts, to see if you qualify for this credit. How do you amend tax returns Earned income credit. How do you amend tax returns   If you are a nonresident alien for any part of the tax year, you generally cannot get the earned income credit. How do you amend tax returns However, if you are married and choose to file a joint return with a U. How do you amend tax returns S. How do you amend tax returns citizen or resident spouse as discussed in chapter 1, you may be eligible for the credit. How do you amend tax returns    You, your spouse, and any qualifying child must have valid SSNs to claim this credit. How do you amend tax returns You cannot claim the credit using an ITIN. How do you amend tax returns If a social security card has a legend that says Not Valid for Employment and the number was issued so that you (or your spouse or your qualifying child) could receive a federally funded benefit, you cannot claim the earned income credit. How do you amend tax returns An example of a federally funded benefit is Medicaid. How do you amend tax returns If a card has this legend and the individual's immigration status has changed so that the individual is now a U. How do you amend tax returns S. How do you amend tax returns citizen or lawful permanent resident, ask the SSA to issue a new social security card without the legend. How do you amend tax returns   See Publication 596 for more information on the credit. How do you amend tax returns Tax Withheld You can claim the tax withheld during the year as a payment against your U. How do you amend tax returns S. How do you amend tax returns tax. How do you amend tax returns You claim it on line 61 of Form 1040NR or on line 18 of Form 1040NR-EZ. How do you amend tax returns The tax withheld reduces any tax you owe with Form 1040NR or Form 1040NR-EZ. How do you amend tax returns Withholding from wages. How do you amend tax returns   Any federal income tax withheld from your wages during the tax year while you were a nonresident alien is allowed as a payment against your U. How do you amend tax returns S. How do you amend tax returns income tax liability for the same year. How do you amend tax returns You can claim the income tax withheld whether or not you were engaged in a trade or business in the United States during the year, and whether or not the wages (or any other income) were connected with a trade or business in the United States. How do you amend tax returns Excess social security tax withheld. How do you amend tax returns   If you have two or more employers, you may be able to claim a credit against your U. How do you amend tax returns S. How do you amend tax returns income tax liability for social security tax withheld in excess of the maximum required. How do you amend tax returns See Social Security and Medicare Taxes in chapter 8 for more information. How do you amend tax returns Additional Medicare Tax. How do you amend tax returns   Your employer is responsible for withholding the 0. How do you amend tax returns 9% Additional Medicare Tax on Medicare wages or RRTA compensation it pays to you in excess of $200,000 in 2013. How do you amend tax returns If you do not owe Additional Medicare Tax, you can claim a credit for any withheld Additional Medicare Tax against the total tax liability shown on your tax return by filing Form 8959. How do you amend tax returns Tax paid on undistributed long-term capital gains. How do you amend tax returns   If you are a shareholder in a mutual fund (or other regulated investment company) or real estate investment trust, you can claim a credit for your share of any taxes paid by the company on its undistributed long-term capital gains. How do you amend tax returns You will receive information on Form 2439, Notice to Shareholder of Undistributed Long-Term Capital Gains, which you must attach to your return. How do you amend tax returns Tax withheld at the source. How do you amend tax returns   You can claim as a payment any tax withheld at the source on investment and other fixed or determinable annual or periodic income paid to you. How do you amend tax returns Fixed or determinable income includes interest, dividend, rental, and royalty income that you do not claim to be effectively connected income. How do you amend tax returns Wage or salary payments can be fixed or determinable income to you, but usually are subject to withholding as discussed above. How do you amend tax returns Taxes on fixed or determinable income are withheld at a 30% rate or at a lower treaty rate. How do you amend tax returns Tax withheld on partnership income. How do you amend tax returns   If you are a foreign partner in a partnership, the partnership will withhold tax on your share of effectively connected taxable income from the partnership. How do you amend tax returns The partnership will give you a statement on Form 8805, Foreign Partner's Information Statement of Section 1446 Withholding Tax, showing the tax withheld. How do you amend tax returns A partnership that is publicly traded may withhold on your actual distributions of effectively connected income. How do you amend tax returns In this case, the partnership will give you a statement on Form 1042-S. How do you amend tax returns Claim the tax withheld as a payment on line 61b or 61d of Form 1040NR, as appropriate. How do you amend tax returns Claiming tax withheld on your return. How do you amend tax returns   When you fill out your tax return, take extra care to enter the correct amount of any tax withheld shown on your information documents. How do you amend tax returns The following table lists some of the more common information documents and shows where to find the amount of tax withheld. How do you amend tax returns Form number Location  of tax  withheld RRB-1042S Box 12 SSA-1042S Box 9 W-2 Box 2 W-2c Box 2 1042-S Box 9 8805 Line 10 8288-A Box 2 Bona Fide Residents of American Samoa or Puerto Rico If you are a nonresident alien who is a bona fide resident of American Samoa or Puerto Rico for the entire tax year, you generally are taxed the same as resident aliens. How do you amend tax returns You should file Form 1040 and report all income from sources both in and outside the United States. How do you amend tax returns However, you can exclude the income discussed in the following paragraphs. How do you amend tax returns For tax purposes other than reporting income, however, you will be treated as a nonresident alien. How do you amend tax returns For example, you are not allowed the standard deduction, you cannot file a joint return, and you are not allowed a deduction for a dependent unless that person is a citizen or national of the United States. How do you amend tax returns There are also limits on what deductions and credits are allowed. How do you amend tax returns See Nonresident Aliens under Deductions , Itemized Deductions , and Tax Credits and Payments in this chapter. How do you amend tax returns Residents of Puerto Rico. How do you amend tax returns   If you are a bona fide resident of Puerto Rico for the entire year, you can exclude from gross income all income from sources in Puerto Rico (other than amounts for services performed as an employee of the United States or any of its agencies). How do you amend tax returns   If you report income on a calendar year basis and you do not have wages subject to withholding, file your return and pay your tax by June 15. How do you amend tax returns You must also make your first payment of estimated tax by June 15. How do you amend tax returns You cannot file a joint income tax return or make joint payments of estimated tax. How do you amend tax returns However, if you are married to a U. How do you amend tax returns S. How do you amend tax returns citizen or resident, see Nonresident Spouse Treated as a Resident in chapter 1. How do you amend tax returns   If you earn wages subject to withholding, your U. How do you amend tax returns S. How do you amend tax returns income tax return is due by April 15. How do you amend tax returns Your first payment of estimated tax is also due by April 15. How do you amend tax returns For information on withholding and estimated tax, see chapter 8 . How do you amend tax returns Residents of American Samoa. How do you amend tax returns   If you are a bona fide resident of American Samoa for the entire year, you can exclude from gross income all income from sources in American Samoa (other than amounts for services performed as an employee of the U. How do you amend tax returns S. How do you amend tax returns government or any of its agencies). How do you amend tax returns An employee of the American Samoan government is not considered an employee of the U. How do you amend tax returns S. How do you amend tax returns government or any of its agencies for purposes of the exclusion. How do you amend tax returns For more information about this exclusion, get Form 4563 and Publication 570, Tax Guide for Individuals With Income From U. How do you amend tax returns S. How do you amend tax returns Possessions. How do you amend tax returns Prev  Up  Next   Home   More Online Publications
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Affordable Care Act (ACA) Tax Provisions

 Individuals
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 Employers
 
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The health care law addresses health insurance coverage and financial assistance options for individuals and families, including the premium tax credit. It also includes the individual shared responsibility provision and exemptions from that provision.The IRS administers the tax provisions included in the law. Visit HealthCare.gov for more information on coverage options and assistance.
 


 

   
The health care law contains many tax and other provisions for employers. The IRS administers the tax provisions included in the law. Visit HealthCare.gov and SBA.gov/healthcare for more information on other provisions.
 


 

 
  • Insurers
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The How Do You Amend Tax Returns

How do you amend tax returns 7. How do you amend tax returns   Depreciation, Depletion, and Amortization Table of Contents What's New for 2013 Introduction Topics - This chapter discusses: Useful Items - You may want to see: Overview of DepreciationWhat Property Can Be Depreciated? What Property Cannot Be Depreciated? When Does Depreciation Begin and End? Can You Use MACRS To Depreciate Your Property? What Is the Basis of Your Depreciable Property? How Do You Treat Repairs and Improvements? Do You Have To File Form 4562? How Do You Correct Depreciation Deductions? Section 179 Expense DeductionWhat Property Qualifies? What Property Does Not Qualify? How Much Can You Deduct? How Do You Elect the Deduction? When Must You Recapture the Deduction? Claiming the Special Depreciation AllowanceWhat is Qualified Property? How Can You Elect Not To Claim the Allowance? When Must You Recapture an Allowance Figuring Depreciation Under MACRSWhich Depreciation System (GDS or ADS) Applies? Which Property Class Applies Under GDS? What Is the Placed-in-Service Date? What Is the Basis for Depreciation? Which Recovery Period Applies? Which Convention Applies? Which Depreciation Method Applies? How Is the Depreciation Deduction Figured? How Do You Use General Asset Accounts? When Do You Recapture MACRS Depreciation? Additional Rules for Listed PropertyWhat Is Listed Property? What Is the Business-Use Requirement? Do the Passenger Automobile Limits Apply? Depletion Who Can Claim Depletion? Figuring Depletion AmortizationBusiness Start-Up Costs Reforestation Costs Section 197 Intangibles What's New for 2013 Increased section 179 expense deduction dollar limits. How do you amend tax returns  The maximum amount you can elect to deduct for most section 179 property you placed in service in 2013 is $500,000. How do you amend tax returns This limit is reduced by the amount by which the cost of the property placed in service during the tax year exceeds $2 million. How do you amend tax returns See Dollar Limits under Section 179 Expense Deduction , later. How do you amend tax returns Extension of special depreciation allowance for certain qualified property acquired after December 31, 2007. How do you amend tax returns . How do you amend tax returns  You may be able to take a 50% special depreciation allowance for certain qualified property acquired after December 31, 2007, and placed in service before January 1, 2014. How do you amend tax returns See Claiming the Special Depreciation Allowance , later. How do you amend tax returns Expiration of the 3- year recovery period for certain race horses. How do you amend tax returns  The 3-year recovery period for race horses two years old or younger will expire for such horses placed in service after December 31, 2013. How do you amend tax returns Introduction If you buy or make improvements to farm property such as machinery, equipment, livestock, or a structure with a useful life of more than a year, you generally cannot deduct its entire cost in one year. How do you amend tax returns Instead, you must spread the cost over the time you use the property and deduct part of it each year. How do you amend tax returns For most types of property, this is called depreciation. How do you amend tax returns This chapter gives information on depreciation methods that generally apply to property placed in service after 1986. How do you amend tax returns For information on depreciating pre-1987 property, see Publication 534, Depreciating Property Placed in Service Before 1987. How do you amend tax returns Topics - This chapter discusses: Overview of depreciation Section 179 expense deduction Special depreciation allowance Modified Accelerated Cost Recovery System (MACRS) Listed property Basic information on cost depletion (including timber depletion) and percentage depletion Amortization of the costs of going into business, reforestation costs, the costs of pollution control facilities, and the costs of section 197 intangibles Useful Items - You may want to see: Publication 463 Travel, Entertainment, Gift, and Car Expenses 534 Depreciating Property Placed in Service Before 1987 535 Business Expenses 544 Sales and Other Dispositions of Assets 551 Basis of Assets 946 How To Depreciate Property Form (and Instructions) T (Timber), Forest Activities Schedule 3115 Application for Change in Accounting Method 4562 Depreciation and Amortization 4797 Sales of Business Property See chapter 16 for information about getting publications and forms. How do you amend tax returns It is important to keep good records for property you depreciate. How do you amend tax returns Do not file these records with your return. How do you amend tax returns Instead, you should keep them as part of the permanent records of the depreciated property. How do you amend tax returns They will help you verify the accuracy of the depreciation of assets placed in service in the current and previous tax years. How do you amend tax returns For general information on recordkeeping, see Publication 583, Starting a Business and Keeping Records. How do you amend tax returns For specific information on keeping records for section 179 property and listed property, see Publication 946, How To Depreciate Property. How do you amend tax returns Overview of Depreciation This overview discusses basic information on the following. How do you amend tax returns What property can be depreciated. How do you amend tax returns What property cannot be depreciated. How do you amend tax returns When depreciation begins and ends. How do you amend tax returns Whether MACRS can be used to figure depreciation. How do you amend tax returns What is the basis of your depreciable property. How do you amend tax returns How to treat repairs and improvements. How do you amend tax returns When you must file Form 4562. How do you amend tax returns How you can correct depreciation claimed incorrectly. How do you amend tax returns What Property Can Be Depreciated? You can depreciate most types of tangible property (except land), such as buildings, machinery, equipment, vehicles, certain livestock, and furniture. How do you amend tax returns You can also depreciate certain intangible property, such as copyrights, patents, and computer software. How do you amend tax returns To be depreciable, the property must meet all the following requirements. How do you amend tax returns It must be property you own. How do you amend tax returns It must be used in your business or income-producing activity. How do you amend tax returns It must have a determinable useful life. How do you amend tax returns It must have a useful life that extends substantially beyond the year you place it in service. How do you amend tax returns Property You Own To claim depreciation, you usually must be the owner of the property. How do you amend tax returns You are considered as owning property even if it is subject to a debt. How do you amend tax returns Leased property. How do you amend tax returns   You can depreciate leased property only if you retain the incidents of ownership in the property. How do you amend tax returns This means you bear the burden of exhaustion of the capital investment in the property. How do you amend tax returns Therefore, if you lease property from someone to use in your trade or business or for the production of income, you generally cannot depreciate its cost because you do not retain the incidents of ownership. How do you amend tax returns You can, however, depreciate any capital improvements you make to the leased property. How do you amend tax returns See Additions and Improvements under Which Recovery Period Applies in chapter 4 of Publication 946. How do you amend tax returns   If you lease property to someone, you generally can depreciate its cost even if the lessee (the person leasing from you) has agreed to preserve, replace, renew, and maintain the property. How do you amend tax returns However, you cannot depreciate the cost of the property if the lease provides that the lessee is to maintain the property and return to you the same property or its equivalent in value at the expiration of the lease in as good condition and value as when leased. How do you amend tax returns Life tenant. How do you amend tax returns   Generally, if you hold business or investment property as a life tenant, you can depreciate it as if you were the absolute owner of the property. How do you amend tax returns See Certain term interests in property , later, for an exception. How do you amend tax returns Property Used in Your Business or Income-Producing Activity To claim depreciation on property, you must use it in your business or income-producing activity. How do you amend tax returns If you use property to produce income (investment use), the income must be taxable. How do you amend tax returns You cannot depreciate property that you use solely for personal activities. How do you amend tax returns However, if you use property for business or investment purposes and for personal purposes, you can deduct depreciation based only on the percentage of business or investment use. How do you amend tax returns Example 1. How do you amend tax returns   If you use your car for farm business, you can deduct depreciation based on its percentage of use in farming. How do you amend tax returns If you also use it for investment purposes, you can depreciate it based on its percentage of investment use. How do you amend tax returns Example 2. How do you amend tax returns   If you use part of your home for business, you may be able to deduct depreciation on that part based on its business use. How do you amend tax returns For more information, see Business Use of Your Home in chapter 4. How do you amend tax returns Inventory. How do you amend tax returns   You can never depreciate inventory because it is not held for use in your business. How do you amend tax returns Inventory is any property you hold primarily for sale to customers in the ordinary course of your business. How do you amend tax returns Livestock. How do you amend tax returns   Livestock purchased for draft, breeding, or dairy purposes can be depreciated only if they are not kept in an inventory account. How do you amend tax returns Livestock you raise usually has no depreciable basis because the costs of raising them are deducted and not added to their basis. How do you amend tax returns However, see Immature livestock under When Does Depreciation Begin and End , later, for a special rule. How do you amend tax returns Property Having a Determinable Useful Life To be depreciable, your property must have a determinable useful life. How do you amend tax returns This means it must be something that wears out, decays, gets used up, becomes obsolete, or loses its value from natural causes. How do you amend tax returns Irrigation systems and water wells. How do you amend tax returns   Irrigation systems and wells used in a trade or business can be depreciated if their useful life can be determined. How do you amend tax returns You can depreciate irrigation systems and wells composed of masonry, concrete, tile, metal, or wood. How do you amend tax returns In addition, you can depreciate costs for moving dirt to construct irrigation systems and water wells composed of these materials. How do you amend tax returns However, land preparation costs for center pivot irrigation systems are not depreciable. How do you amend tax returns Dams, ponds, and terraces. How do you amend tax returns   In general, you cannot depreciate earthen dams, ponds, and terraces unless the structures have a determinable useful life. How do you amend tax returns What Property Cannot Be Depreciated? Certain property cannot be depreciated, even if the requirements explained earlier are met. How do you amend tax returns This includes the following. How do you amend tax returns Land. How do you amend tax returns You can never depreciate the cost of land because land does not wear out, become obsolete, or get used up. How do you amend tax returns The cost of land generally includes the cost of clearing, grading, planting, and landscaping. How do you amend tax returns Although you cannot depreciate land, you can depreciate certain costs incurred in preparing land for business use. How do you amend tax returns See chapter 1 of Publication 946. How do you amend tax returns Property placed in service and disposed of in the same year. How do you amend tax returns Determining when property is placed in service is explained later. How do you amend tax returns Equipment used to build capital improvements. How do you amend tax returns You must add otherwise allowable depreciation on the equipment during the period of construction to the basis of your improvements. How do you amend tax returns Intangible property such as section 197 intangibles. How do you amend tax returns This property does not have a determinable useful life and generally cannot be depreciated. How do you amend tax returns However, see Amortization , later. How do you amend tax returns Special rules apply to computer software (discussed below). How do you amend tax returns Certain term interests (discussed below). How do you amend tax returns Computer software. How do you amend tax returns   Computer software is generally not a section 197 intangible even if acquired in connection with the acquisition of a business, if it meets all of the following tests. How do you amend tax returns It is readily available for purchase by the general public. How do you amend tax returns It is subject to a nonexclusive license. How do you amend tax returns It has not been substantially modified. How do you amend tax returns   If the software meets the tests above, it can be depreciated and may qualify for the section 179 expense deduction and the special depreciation allowance (if applicable), discussed later. How do you amend tax returns Certain term interests in property. How do you amend tax returns   You cannot depreciate a term interest in property created or acquired after July 27, 1989, for any period during which the remainder interest is held, directly or indirectly, by a person related to you. How do you amend tax returns This rule does not apply to the holder of a term interest in property acquired by gift, bequest, or inheritance. How do you amend tax returns For more information, see chapter 1 of Publication 946. How do you amend tax returns When Does Depreciation Begin and End? You begin to depreciate your property when you place it in service for use in your trade or business or for the production of income. How do you amend tax returns You stop depreciating property either when you have fully recovered your cost or other basis or when you retire it from service, whichever happens first. How do you amend tax returns Placed in Service Property is placed in service when it is ready and available for a specific use, whether in a business activity, an income-producing activity, a tax-exempt activity, or a personal activity. How do you amend tax returns Even if you are not using the property, it is in service when it is ready and available for its specific use. How do you amend tax returns Example. How do you amend tax returns You bought a planter for use in your farm business. How do you amend tax returns The planter was delivered in December 2012 after harvest was over. How do you amend tax returns You begin to depreciate the planter for 2012 because it was ready and available for its specific use in 2012, even though it will not be used until the spring of 2013. How do you amend tax returns If your planter comes unassembled in December 2012 and is put together in February 2013, it is not placed in service until 2013. How do you amend tax returns You begin to depreciate it in 2013. How do you amend tax returns If your planter was delivered and assembled in February 2013 but not used until April 2013, it is placed in service in February 2013, because this is when the planter was ready for its specified use. How do you amend tax returns You begin to depreciate it in 2013. How do you amend tax returns Fruit or nut trees and vines. How do you amend tax returns   If you acquire an orchard, grove, or vineyard before the trees or vines have reached the income-producing stage, and they have a preproductive period of more than 2 years, you must capitalize the preproductive-period costs under the uniform capitalization rules (unless you elect not to use these rules). How do you amend tax returns See chapter 6 for information about the uniform capitalization rules. How do you amend tax returns Your depreciation begins when the trees and vines reach the income-producing stage (that is, when they bear fruit, nuts, or grapes in quantities sufficient to commercially warrant harvesting). How do you amend tax returns Immature livestock. How do you amend tax returns   Depreciation for livestock begins when the livestock reaches the age of maturity. How do you amend tax returns If you bought immature livestock for drafting purposes, depreciation begins when they can be worked. How do you amend tax returns If you bought immature livestock for dairy purposes, depreciation begins when they can be milked. How do you amend tax returns If you bought immature livestock for breeding purposes, depreciation begins when they can be bred. How do you amend tax returns Your basis for depreciation is your initial cost for the immature livestock. How do you amend tax returns Idle Property Continue to claim a deduction for depreciation on property used in your business or for the production of income even if it is temporarily idle. How do you amend tax returns For example, if you stop using a machine because there is a temporary lack of a market for a product made with that machine, continue to deduct depreciation on the machine. How do you amend tax returns Cost or Other Basis Fully Recovered You stop depreciating property when you have fully recovered your cost or other basis. How do you amend tax returns This happens when your section 179 and allowed or allowable depreciation deductions equal your cost or investment in the property. How do you amend tax returns Retired From Service You stop depreciating property when you retire it from service, even if you have not fully recovered its cost or other basis. How do you amend tax returns You retire property from service when you permanently withdraw it from use in a trade or business or from use in the production of income because of any of the following events. How do you amend tax returns You sell or exchange the property. How do you amend tax returns You convert the property to personal use. How do you amend tax returns You abandon the property. How do you amend tax returns You transfer the property to a supplies or scrap account. How do you amend tax returns The property is destroyed. How do you amend tax returns For information on abandonment of property, see chapter 8. How do you amend tax returns For information on destroyed property, see chapter 11 and Publication 547, Casualties, Disasters, and Thefts. How do you amend tax returns Can You Use MACRS To Depreciate Your Property? You must use the Modified Accelerated Cost Recovery System (MACRS) to depreciate most business and investment property placed in service after 1986. How do you amend tax returns MACRS is explained later under Figuring Depreciation Under MACRS . How do you amend tax returns You cannot use MACRS to depreciate the following property. How do you amend tax returns Property you placed in service before 1987. How do you amend tax returns Use the methods discussed in Publication 534. How do you amend tax returns Certain property owned or used in 1986. How do you amend tax returns See chapter 1 of Publication 946. How do you amend tax returns Intangible property. How do you amend tax returns Films, video tapes, and recordings. How do you amend tax returns Certain corporate or partnership property acquired in a nontaxable transfer. How do you amend tax returns Property you elected to exclude from MACRS. How do you amend tax returns For more information, see chapter 1 of Publication 946. How do you amend tax returns What Is the Basis of Your Depreciable Property? To figure your depreciation deduction, you must determine the basis of your property. How do you amend tax returns To determine basis, you need to know the cost or other basis of your property. How do you amend tax returns Cost or other basis. How do you amend tax returns   The basis of property you buy is usually its cost plus amounts you paid for items such as sales tax, freight charges, and installation and testing fees. How do you amend tax returns The cost includes the amount you pay in cash, debt obligations, other property, or services. How do you amend tax returns   There are times when you cannot use cost as basis. How do you amend tax returns In these situations, the fair market value (FMV) or the adjusted basis of the property may be used. How do you amend tax returns Adjusted basis. How do you amend tax returns   To find your property's basis for depreciation, you may have to make certain adjustments (increases and decreases) to the basis of the property for events occurring between the time you acquired the property and the time you placed it in service. How do you amend tax returns Basis adjustment for depreciation allowed or allowable. How do you amend tax returns   After you place your property in service, you must reduce the basis of the property by the depreciation allowed or allowable, whichever is greater. How do you amend tax returns Depreciation allowed is depreciation you actually deducted (from which you received a tax benefit). How do you amend tax returns Depreciation allowable is depreciation you are entitled to deduct. How do you amend tax returns   If you do not claim depreciation you are entitled to deduct, you must still reduce the basis of the property by the full amount of depreciation allowable. How do you amend tax returns   If you deduct more depreciation than you should, you must reduce your basis by any amount deducted from which you received a tax benefit (the depreciation allowed). How do you amend tax returns   For more information, see chapter 6. How do you amend tax returns How Do You Treat Repairs and Improvements? You generally deduct the cost of repairing business property in the same way as any other business expense. How do you amend tax returns However, if a repair or replacement increases the value of your property, makes it more useful, or lengthens its life, you must treat it as an improvement and depreciate it. How do you amend tax returns Treat improvements as separate depreciable property. How do you amend tax returns See chapter 1 of Publication 946 for more information. How do you amend tax returns Example. How do you amend tax returns You repair a small section on a corner of the roof of a barn that you rent to others. How do you amend tax returns You deduct the cost of the repair as a business expense. How do you amend tax returns However, if you replace the entire roof, the new roof is considered to be an improvement because it increases the value and lengthens the life for the property. How do you amend tax returns You depreciate the cost of the new roof. How do you amend tax returns Improvements to rented property. How do you amend tax returns   You can depreciate permanent improvements you make to business property you rent from someone else. How do you amend tax returns Do You Have To File Form 4562? Use Form 4562 to claim your deduction for depreciation and amortization. How do you amend tax returns You must complete and attach Form 4562 to your tax return if you are claiming any of the following. How do you amend tax returns A section 179 expense deduction for the current year or a section 179 carryover from a prior year. How do you amend tax returns Depreciation for property placed in service during the current year. How do you amend tax returns Depreciation on any vehicle or other listed property, regardless of when it was placed in service. How do you amend tax returns Amortization of costs that began in the current year. How do you amend tax returns For more information, see the Instructions for Form 4562. How do you amend tax returns How Do You Correct Depreciation Deductions? If you deducted an incorrect amount of depreciation in any year, you may be able to make a correction by filing an amended return for that year. How do you amend tax returns You can file an amended return to correct the amount of depreciation claimed for any property in any of the following situations. How do you amend tax returns You claimed the incorrect amount because of a mathematical error made in any year. How do you amend tax returns You claimed the incorrect amount because of a posting error made in any year, for example, omitting an asset from the depreciation schedule. How do you amend tax returns You have not adopted a method of accounting for the property placed in service by you in tax years ending after December 29, 2003. How do you amend tax returns You claimed the incorrect amount on property placed in service by you in tax years ending before December 30, 2003. How do you amend tax returns Note. How do you amend tax returns You have adopted a method of accounting if you used the same incorrect method of depreciation for two or more consecutively filed returns. How do you amend tax returns If you are not allowed to make the correction on an amended return, you may be able to change your accounting method to claim the correct amount of depreciation. How do you amend tax returns See the Instructions for Form 3115. How do you amend tax returns Section 179 Expense Deduction You can elect to recover all or part of the cost of certain qualifying property, up to a limit, by deducting it in the year you place the property in service. How do you amend tax returns This is the section 179 expense deduction. How do you amend tax returns You can elect the section 179 expense deduction instead of recovering the cost by taking depreciation deductions. How do you amend tax returns This part of the chapter explains the rules for the section 179 expense deduction. How do you amend tax returns It explains what property qualifies for the deduction, what property does not qualify for the deduction, the limits that may apply, how to elect the deduction, and when you may have to recapture the deduction. How do you amend tax returns For more information, see chapter 2 of Publication 946. How do you amend tax returns What Property Qualifies? To qualify for the section 179 expense deduction, your property must meet all the following requirements. How do you amend tax returns It must be eligible property. How do you amend tax returns It must be acquired for business use. How do you amend tax returns It must have been acquired by purchase. How do you amend tax returns Eligible Property To qualify for the section 179 expense deduction, your property must be one of the following types of depreciable property. How do you amend tax returns Tangible personal property. How do you amend tax returns Qualified real property. How do you amend tax returns (Special rules apply to qualified real property that you elect to treat as qualified section 179 real property. How do you amend tax returns For more information, see chapter 2 of Publication 946 and section 179(f) of the Internal Revenue Code. How do you amend tax returns ) Other tangible property (except buildings and their structural components) used as: An integral part of manufacturing, production, or extraction or of furnishing transportation, communications, electricity, gas, water, or sewage disposal services; A research facility used in connection with any of the activities in (a) above; or A facility used in connection with any of the activities in (a) for the bulk storage of fungible commodities. How do you amend tax returns Single purpose agricultural (livestock) or horticultural structures. How do you amend tax returns Storage facilities (except buildings and their structural components) used in connection with distributing petroleum or any primary product of petroleum. How do you amend tax returns Off-the-shelf computer software that is readily available for purchase by the general public, is subject to a nonexclusive lease, and has not been substantially modified. How do you amend tax returns Tangible personal property. How do you amend tax returns   Tangible personal property is any tangible property that is not real property. How do you amend tax returns It includes the following property. How do you amend tax returns Machinery and equipment. How do you amend tax returns Property contained in or attached to a building (other than structural components), such as milk tanks, automatic feeders, barn cleaners, and office equipment. How do you amend tax returns Gasoline storage tanks and pumps at retail service stations. How do you amend tax returns Livestock, including horses, cattle, hogs, sheep, goats, and mink and other fur-bearing animals. How do you amend tax returns Facility used for the bulk storage of fungible commodities. How do you amend tax returns   A facility used for the bulk storage of fungible commodities is qualifying property for purposes of the section 179 expense deduction if it is used in connection with any of the activities listed earlier in item (3)(a). How do you amend tax returns Bulk storage means the storage of a commodity in a large mass before it is used. How do you amend tax returns Grain bins. How do you amend tax returns   A grain bin is an example of a storage facility that is qualifying section 179 property. How do you amend tax returns It is a facility used in connection with the production of grain or livestock for the bulk storage of fungible commodities. How do you amend tax returns Single purpose agricultural or horticultural structures. How do you amend tax returns   A single purpose agricultural (livestock) or horticultural structure is qualifying property for purposes of the section 179 expense deduction. How do you amend tax returns Agricultural structure. How do you amend tax returns   A single purpose agricultural (livestock) structure is any building or enclosure specifically designed, constructed, and used for both the following reasons. How do you amend tax returns To house, raise, and feed a particular type of livestock and its produce. How do you amend tax returns To house the equipment, including any replacements, needed to house, raise, or feed the livestock. How do you amend tax returns For this purpose, livestock includes poultry. How do you amend tax returns   Single purpose structures are qualifying property if used, for example, to breed chickens or hogs, produce milk from dairy cattle, or produce feeder cattle or pigs, broiler chickens, or eggs. How do you amend tax returns The facility must include, as an integral part of the structure or enclosure, equipment necessary to house, raise, and feed the livestock. How do you amend tax returns Horticultural structure. How do you amend tax returns   A single purpose horticultural structure is either of the following. How do you amend tax returns A greenhouse specifically designed, constructed, and used for the commercial production of plants. How do you amend tax returns A structure specifically designed, constructed, and used for the commercial production of mushrooms. How do you amend tax returns Use of structure. How do you amend tax returns   A structure must be used only for the purpose that qualified it. How do you amend tax returns For example, a hog barn will not be qualifying property if you use it to house poultry. How do you amend tax returns Similarly, using part of your greenhouse to sell plants will make the greenhouse nonqualifying property. How do you amend tax returns   If a structure includes work space, the work space can be used only for the following activities. How do you amend tax returns Stocking, caring for, or collecting livestock or plants or their produce. How do you amend tax returns Maintaining the enclosure or structure. How do you amend tax returns Maintaining or replacing the equipment or stock enclosed or housed in the structure. How do you amend tax returns Property Acquired by Purchase To qualify for the section 179 expense deduction, your property must have been acquired by purchase. How do you amend tax returns For example, property acquired by gift or inheritance does not qualify. How do you amend tax returns Property acquired from a related person (that is, your spouse, ancestors, or lineal descendants) is not considered acquired by purchase. How do you amend tax returns Example. How do you amend tax returns Ken is a farmer. How do you amend tax returns He purchased two tractors, one from his brother and one from his father. How do you amend tax returns He placed both tractors in service in the same year he bought them. How do you amend tax returns The tractor purchased from his father does not qualify for the section 179 expense deduction because he is a related person (as defined above). How do you amend tax returns The tractor purchased from his brother does qualify for the deduction because Ken is not a related person (as defined above). How do you amend tax returns What Property Does Not Qualify? Land and improvements. How do you amend tax returns   Land and land improvements, do not qualify as section 179 property. How do you amend tax returns Land improvements include nonagricultural fences, swimming pools, paved parking areas, wharves, docks, bridges, and fences. How do you amend tax returns However, agricultural fences do qualify as section 179 property. How do you amend tax returns Similarly, field drainage tile also qualifies as section 179 property. How do you amend tax returns Excepted property. How do you amend tax returns   Even if the requirements explained in the preceding discussions are met, farmers cannot elect the section 179 expense deduction for the following property. How do you amend tax returns Certain property you lease to others (if you are a noncorporate lessor). How do you amend tax returns Certain property used predominantly to furnish lodging or in connection with the furnishing of lodging. How do you amend tax returns Property used by a tax-exempt organization (other than a tax-exempt farmers' cooperative) unless the property is used mainly in a taxable unrelated trade or business. How do you amend tax returns Property used by governmental units or foreign persons or entities (except property used under a lease with a term of less than 6 months). How do you amend tax returns How Much Can You Deduct? Your section 179 expense deduction is generally the cost of the qualifying property. How do you amend tax returns However, the total amount you can elect to deduct under section 179 is subject to a dollar limit and a business income limit. How do you amend tax returns These limits apply to each taxpayer, not to each business. How do you amend tax returns However, see Married individuals under Dollar Limits , later. How do you amend tax returns See also the special rules for applying the limits for partnerships and S corporations under Partnerships and S Corporations , later. How do you amend tax returns If you deduct only part of the cost of qualifying property as a section 179 expense deduction, you can generally depreciate the cost you do not deduct. How do you amend tax returns Use Part I of Form 4562 to figure your section 179 expense deduction. How do you amend tax returns Partial business use. How do you amend tax returns   When you use property for business and nonbusiness purposes, you can elect the section 179 expense deduction only if you use it more than 50% for business in the year you place it in service. How do you amend tax returns If you used the property more than 50% for business, multiply the cost of the property by the percentage of business use. How do you amend tax returns Use the resulting business cost to figure your section 179 expense deduction. How do you amend tax returns Trade-in of other property. How do you amend tax returns   If you buy qualifying property with cash and a trade-in, its cost for purposes of the section 179 expense deduction includes only the cash you paid. How do you amend tax returns For example, if you buy (for cash and a trade-in) a new tractor for use in your business, your cost for the section 179 expense deduction is the cash you paid. How do you amend tax returns It does not include the adjusted basis of the old tractor you trade for the new tractor. How do you amend tax returns Example. How do you amend tax returns J-Bar Farms traded two cultivators having a total adjusted basis of $6,800 for a new cultivator costing $13,200. How do you amend tax returns They received an $8,000 trade-in allowance for the old cultivators and paid $5,200 cash for the new cultivator. How do you amend tax returns J-Bar also traded a used pickup truck with an adjusted basis of $8,000 for a new pickup truck costing $35,000. How do you amend tax returns They received a $5,000 trade-in allowance and paid $30,000 cash for the new pickup truck. How do you amend tax returns Only the cash paid by J-Bar qualifies for the section 179 expense deduction. How do you amend tax returns J-Bar's business costs that qualify for a section 179 expense deduction are $35,200 ($5,200 + $30,000). How do you amend tax returns Dollar Limits The total amount you can elect to deduct under section 179 for most property placed in service in 2013 is $500,000. How do you amend tax returns If you acquire and place in service more than one item of qualifying property during the year, you can allocate the section 179 expense deduction among the items in any way, as long as the total deduction is not more than $500,000. How do you amend tax returns Qualified real property that you elect to treat as section 179 property is limited to $250,000 of the maximum section 179 deduction of $500,000 for 2013. How do you amend tax returns You do not have to claim the full $500,000. How do you amend tax returns For specific information on the section 179 dollar limits, see chapter 2 of Publication 946. How do you amend tax returns Reduced dollar limit for cost exceeding $2 million. How do you amend tax returns   If the cost of your qualifying section 179 property placed in service in 2013 is over $2 million, you must reduce the dollar limit (but not below zero) by the amount of cost over $2 million. How do you amend tax returns If the cost of your section 179 property placed in service during 2013 is $2,500,000 or more, you cannot take a section 179 expense deduction and you cannot carry over the cost that is more than $2,500,000. How do you amend tax returns Example. How do you amend tax returns This year, James Smith placed in service machinery costing $2,050,000. How do you amend tax returns Because this cost is $50,000 more than $2 million, he must reduce his dollar limit to $450,000 ($500,000 − $50,000). How do you amend tax returns Limits for sport utility vehicles. How do you amend tax returns   The total amount you can elect to deduct for certain sport utility vehicles and certain other vehicles placed in service in 2013 is $25,000. How do you amend tax returns This rule applies to any 4-wheeled vehicle primarily designed or used to carry passengers over public streets, roads, and highways that is rated at more than 6,000 pounds gross vehicle weight and not more than 14,000 pounds gross vehicle weight. How do you amend tax returns   For more information, see chapter 2 of Publication 946. How do you amend tax returns Limits for passenger automobiles. How do you amend tax returns   For a passenger automobile that is placed in service in 2013, the total section 179 and depreciation deduction is limited. How do you amend tax returns See Do the Passenger Automobile Limits Apply , later. How do you amend tax returns Married individuals. How do you amend tax returns   If you are married, how you figure your section 179 expense deduction depends on whether you file jointly or separately. How do you amend tax returns If you file a joint return, you and your spouse are treated as one taxpayer in determining any reduction to the dollar limit, regardless of which of you purchased the property or placed it in service. How do you amend tax returns If you and your spouse file separate returns, you are treated as one taxpayer for the dollar limit, including the reduction for costs over $2 million. How do you amend tax returns You must allocate the dollar limit (after any reduction) equally between you, unless you both elect a different allocation. How do you amend tax returns If the percentages elected by each of you do not total 100%, 50% will be allocated to each of you. How do you amend tax returns Joint return after separate returns. How do you amend tax returns   If you and your spouse elect to amend your separate returns by filing a joint return after the due date for filing your return, the dollar limit on the joint return is the lesser of the following amounts. How do you amend tax returns The dollar limit (after reduction for any cost of section 179 property over $2 million). How do you amend tax returns The total cost of section 179 property you and your spouse elected to expense on your separate returns. How do you amend tax returns Business Income Limit The total cost you can deduct each year after you apply the dollar limit is limited to the taxable income from the active conduct of any trade or business during the year. How do you amend tax returns Generally, you are considered to actively conduct a trade or business if you meaningfully participate in the management or operations of the trade or business. How do you amend tax returns Any cost not deductible in one year under section 179 because of this limit can be carried to the next year. How do you amend tax returns See Carryover of disallowed deduction , later. How do you amend tax returns Taxable income. How do you amend tax returns   In general, figure taxable income for this purpose by totaling the net income and losses from all trades and businesses you actively conducted during the year. How do you amend tax returns In addition to net income or loss from a sole proprietorship, partnership, or S corporation, net income or loss derived from a trade or business also includes the following items. How do you amend tax returns Section 1231 gains (or losses) as discussed in chapter 9. How do you amend tax returns Interest from working capital of your trade or business. How do you amend tax returns Wages, salaries, tips, or other pay earned by you (or your spouse if you file a joint return) as an employee of any employer. How do you amend tax returns   In addition, figure taxable income without regard to any of the following. How do you amend tax returns The section 179 expense deduction. How do you amend tax returns The self-employment tax deduction. How do you amend tax returns Any net operating loss carryback or carryforward. How do you amend tax returns Any unreimbursed employee business expenses. How do you amend tax returns Two different taxable income limits. How do you amend tax returns   In addition to the business income limit for your section 179 expense deduction, you may have a taxable income limit for some other deduction (for example, charitable contributions). How do you amend tax returns You may have to figure the limit for this other deduction taking into account the section 179 expense deduction. How do you amend tax returns If so, complete the following steps. How do you amend tax returns Step Action 1 Figure taxable income without the section 179 expense deduction or the other deduction. How do you amend tax returns 2 Figure a hypothetical section 179 expense deduction using the taxable income figured in Step 1. How do you amend tax returns 3 Subtract the hypothetical section 179 expense deduction figured in Step 2 from the taxable income figured in Step 1. How do you amend tax returns 4 Figure a hypothetical amount for the other deduction using the amount figured in Step 3 as taxable income. How do you amend tax returns 5 Subtract the hypothetical other deduction figured in Step 4 from the taxable income figured in  Step 1. How do you amend tax returns 6 Figure your actual section 179 expense deduction using the taxable income figured in Step 5. How do you amend tax returns 7 Subtract your actual section 179 expense deduction figured in Step 6 from the taxable income figured in Step 1. How do you amend tax returns 8 Figure your actual other deduction using the taxable income figured in Step 7. How do you amend tax returns Example. How do you amend tax returns On February 1, 2013, the XYZ farm corporation purchased and placed in service qualifying section 179 property that cost $500,000. How do you amend tax returns It elects to expense the entire $500,000 cost under section 179. How do you amend tax returns In June, the corporation gave a charitable contribution of $10,000. How do you amend tax returns A corporation's limit on charitable contributions is figured after subtracting any section 179 expense deduction. How do you amend tax returns The business income limit for the section 179 expense deduction is figured after subtracting any allowable charitable contributions. How do you amend tax returns XYZ's taxable income figured without the section 179 expense deduction or the deduction for charitable contributions is $520,000. How do you amend tax returns XYZ figures its section 179 expense deduction and its deduction for charitable contributions as follows. How do you amend tax returns Step 1. How do you amend tax returns Taxable income figured without either deduction is $520,000. How do you amend tax returns Step 2. How do you amend tax returns Using $520,000 as taxable income, XYZ's hypothetical section 179 expense deduction is $500,000. How do you amend tax returns Step 3. How do you amend tax returns $20,000 ($520,000 − $500,000). How do you amend tax returns Step 4. How do you amend tax returns Using $20,000 (from Step 3) as taxable income, XYZ's hypothetical charitable contribution (limited to 10% of taxable income) is $2,000. How do you amend tax returns Step 5. How do you amend tax returns $518,000 ($520,000 − $2,000). How do you amend tax returns Step 6. How do you amend tax returns Using $518,000 (from Step 5) as taxable income, XYZ figures the actual section 179 expense deduction. How do you amend tax returns Because the taxable income is at least $500,000, XYZ can take a $500,000 section 179 expense deduction. How do you amend tax returns Step 7. How do you amend tax returns $20,000 ($520,000 − $500,000). How do you amend tax returns Step 8. How do you amend tax returns Using $20,000 (from Step 7) as taxable income, XYZ's actual charitable contribution (limited to 10% of taxable income) is $2,000. How do you amend tax returns Carryover of disallowed deduction. How do you amend tax returns   You can carry over for an unlimited number of years the cost of any section 179 property you elected to expense but were unable to because of the business income limit. How do you amend tax returns   The amount you carry over is used in determining your section 179 expense deduction in the next year. How do you amend tax returns However, it is subject to the limits in that year. How do you amend tax returns If you place more than one property in service in a year, you can select the properties for which all or a part of the cost will be carried forward. How do you amend tax returns Your selections must be shown in your books and records. How do you amend tax returns Example. How do you amend tax returns Last year, Joyce Jones placed in service a machine that cost $8,000 and elected to deduct all $8,000 under section 179. How do you amend tax returns The taxable income from her business (determined without regard to both a section 179 expense deduction for the cost of the machine and the self-employment tax deduction) was $6,000. How do you amend tax returns Her section 179 expense deduction was limited to $6,000. How do you amend tax returns The $2,000 cost that was not allowed as a section 179 expense deduction (because of the business income limit) is carried to this year. How do you amend tax returns This year, Joyce placed another machine in service that cost $9,000. How do you amend tax returns Her taxable income from business (determined without regard to both a section 179 expense deduction for the cost of the machine and the self-employment tax deduction) is $10,000. How do you amend tax returns Joyce can deduct the full cost of the machine ($9,000) but only $1,000 of the carryover from last year because of the business income limit. How do you amend tax returns She can carry over the balance of $1,000 to next year. How do you amend tax returns Partnerships and S Corporations The section 179 expense deduction limits apply both to the partnership or S corporation and to each partner or shareholder. How do you amend tax returns The partnership or S corporation determines its section 179 expense deduction subject to the limits. How do you amend tax returns It then allocates the deduction among its partners or shareholders. How do you amend tax returns If you are a partner in a partnership or shareholder of an S corporation, you add the amount allocated from the partnership or S corporation to any section 179 costs not related to the partnership or S corporation and then apply the dollar limit to this total. How do you amend tax returns To determine any reduction in the dollar limit for costs over $560,000, you do not include any of the cost of section 179 property placed in service by the partnership or S corporation. How do you amend tax returns After you apply the dollar limit, you apply the business income limit to any remaining section 179 costs. How do you amend tax returns For more information, see chapter 2 of Publication 946. How do you amend tax returns Example. How do you amend tax returns In 2013, Partnership P placed in service section 179 property with a total cost of $2,160,000. How do you amend tax returns P must reduce its dollar limit by $160,000 ($2,160,000 − $2,000,000). How do you amend tax returns Its maximum section 179 expense deduction is $340,000 ($500,000 − $160,000), and it elects to expense that amount. How do you amend tax returns Because P's taxable income from the active conduct of all its trades or businesses for the year was $400,000, it can deduct the full $340,000. How do you amend tax returns P allocates $100,000 of its section 179 expense deduction and $110,000 of its taxable income to John, one of its partners. How do you amend tax returns John also conducts a business as a sole proprietor and in 2013, placed in service in that business, section 179 property costing $28,000. How do you amend tax returns John's taxable income from that business was $10,000. How do you amend tax returns In addition to the $100,000 allocated from P, he elects to expense the $28,000 of his sole proprietorship's section 179 costs. How do you amend tax returns However, John's deduction is limited to his business taxable income of $120,000 ($110,000 from P plus $10,000 from his sole proprietorship). How do you amend tax returns He carries over $8,000 ($128,000 − $120,000) of the elected section 179 costs to 2014. How do you amend tax returns How Do You Elect the Deduction? You elect to take the section 179 expense deduction by completing Part I of Form 4562. How do you amend tax returns If you elect the deduction for listed property, complete Part V of  Form 4562 before completing Part I. How do you amend tax returns   File Form 4562 with either of the following: Your original tax return (whether or not you filed it timely), or An amended return filed within the time prescribed by law. How do you amend tax returns An election made on an amended return must specify the item of section 179 property to which the election applies and the part of the cost of each such item to be taken into account. How do you amend tax returns The amended return must also include any resulting adjustments to taxable income. How do you amend tax returns Revoking an election. How do you amend tax returns   An election (or any specification made in the election) to take a section 179 expense deduction for 2013 can be revoked without IRS approval by filing an amended return. How do you amend tax returns The amended return must be filed within the time prescribed by law. How do you amend tax returns The amended return must also include any resulting adjustments to taxable income (for example, allowable depreciation in that tax year for the item of section 179 property for which the election pertains. How do you amend tax returns ) Once made, the revocation is irrevocable. How do you amend tax returns When Must You Recapture the Deduction? You may have to recapture the section 179 expense deduction if, in any year during the property's recovery period, the percentage of business use drops to 50% or less. How do you amend tax returns In the year the business use drops to 50% or less, you include the recapture amount as ordinary income. How do you amend tax returns You also increase the basis of the property by the recapture amount. How do you amend tax returns Recovery periods for property are discussed later. How do you amend tax returns If you sell, exchange, or otherwise dispose of the property, do not figure the recapture amount under the rules explained in this discussion. How do you amend tax returns Instead, use the rules for recapturing depreciation explained in  chapter 9 under Section 1245 Property. How do you amend tax returns   If the property is listed property, do not figure the recapture amount under the rules explained in this discussion when the percentage of business use drops to 50% or less. How do you amend tax returns Instead, use the rules for recapturing depreciation explained in chapter 5 of Publication 946 under Recapture of Excess Depreciation. How do you amend tax returns Figuring the recapture amount. How do you amend tax returns   To figure the amount to recapture, take the following steps. How do you amend tax returns Figure the allowable depreciation for the section 179 expense deduction you claimed. How do you amend tax returns Begin with the year you placed the property in service and include the year of recapture. How do you amend tax returns Subtract the depreciation figured in (1) from the section 179 expense deduction you actually claimed. How do you amend tax returns The result is the amount you must recapture. How do you amend tax returns Example. How do you amend tax returns In January 2011, Paul Lamb, a calendar year taxpayer, bought and placed in service section 179 property costing $10,000. How do you amend tax returns The property is not listed property. How do you amend tax returns He elected a $5,000 section 179 expense deduction for the property and also elected not to claim a special depreciation allowance. How do you amend tax returns He used the property only for business in 2011 and 2012. How do you amend tax returns During 2013, he used the property 40% for business and 60% for personal use. How do you amend tax returns He figures his recapture amount as follows. How do you amend tax returns Section 179 expense deduction claimed (2011) $5,000 Minus: Allowable depreciation (instead of section 179 expense deduction):   2011 $1,250   2012 1,875   2013 ($1,250 × 40% (business)) 500 3,625 2013 — Recapture amount $1,375     Paul must include $1,375 in income for 2013. How do you amend tax returns Where to report recapture. How do you amend tax returns   Report any recapture of the section 179 expense deduction as ordinary income in Part IV of Form 4797 and include it in income on Schedule F (Form 1040). How do you amend tax returns Recapture for qualified section 179 GO Zone property. How do you amend tax returns   If any qualified section 179 GO Zone property ceases to be used in the GO Zone in a later year, you must recapture the benefit of the increased section 179 expense deduction as “other income. How do you amend tax returns ” Claiming the Special Depreciation Allowance For qualified property (defined below) placed in service in 2013, you can take an additional 50% special depreciation allowance. How do you amend tax returns The allowance is an additional deduction you can take after any section 179 expense deduction and before you figure regular depreciation under MACRS. How do you amend tax returns Figure the special depreciation allowance by multiplying the depreciable basis of the qualified property by 50%. How do you amend tax returns What is Qualified Property? For farmers, qualified property generally is certain qualified property acquired after December 31, 2007, and placed in service before January 1, 2014. How do you amend tax returns Certain qualified property acquired after December 31, 2007, and placed in service before January 1, 2014. How do you amend tax returns   Certain qualified property (defined below) acquired after December 31, 2007, and before January 1, 2014, is eligible for a 50% special depreciation allowance. How do you amend tax returns   Qualified property includes the following: Tangible property depreciated under the Modified Accelerated Cost Recovery System (MACRS) with a recovery period of 20 years or less. How do you amend tax returns Water utility property. How do you amend tax returns Off-the-shelf computer software. How do you amend tax returns Qualified leasehold improvement property. How do you amend tax returns   Qualified property must also meet all of the following tests: You must have acquired qualified property by purchase after December 31, 2007. How do you amend tax returns If a binding contract to acquire the property existed before January 1, 2008, the property does not qualify. How do you amend tax returns Qualified property must be placed in service after December 31, 2007 and placed in service before January 1, 2014 (before January 1, 2015 for certain property with a long production period and for certain aircraft). How do you amend tax returns The original use of the property must begin with you after December 31, 2007. How do you amend tax returns For more information, see chapter 3 of Publication 946. How do you amend tax returns How Can You Elect Not To Claim the Allowance? You can elect, for any class of property, not to deduct the special depreciation allowance for all property in such class placed in service during the tax year. How do you amend tax returns To make the election, attach a statement to your return indicating the class of property for which you are making the election. How do you amend tax returns Generally, you must make the election on a timely filed tax return (including extensions) for the year in which you place the property in service. How do you amend tax returns However, if you timely filed your return for the year without making the election, you still can make the election by filing an amended return within 6 months of the due date of the original return (not including extensions). How do you amend tax returns Attach the election statement to the amended return. How do you amend tax returns On the amended return, write “Filed pursuant to section 301. How do you amend tax returns 9100-2. How do you amend tax returns ” Once made, the election may not be revoked without IRS consent. How do you amend tax returns If you elect not to have the special depreciation allowance apply, the property may be subject to an alternative minimum tax adjustment for depreciation. How do you amend tax returns When Must You Recapture an Allowance When you dispose of property for which you claimed a special depreciation allowance, any gain on the disposition is generally recaptured (included in income) as ordinary income up to the amount of the special depreciation allowance previously allowed or allowable. How do you amend tax returns For more information, see chapter 3 of Publication 946. How do you amend tax returns Figuring Depreciation Under MACRS The Modified Accelerated Cost Recovery System (MACRS) is used to recover the basis of most business and investment property placed in service after 1986. How do you amend tax returns MACRS consists of two depreciation systems, the General Depreciation System (GDS) and the Alternative Depreciation System (ADS). How do you amend tax returns Generally, these systems provide different methods and recovery periods to use in figuring depreciation deductions. How do you amend tax returns To be sure you can use MACRS to figure depreciation for your property, see Can You Use MACRS To Depreciate Your Property, earlier. How do you amend tax returns This part explains how to determine which MACRS depreciation system applies to your property. How do you amend tax returns It also discusses the following information that you need to know before you can figure depreciation under MACRS. How do you amend tax returns Property's recovery class. How do you amend tax returns Placed-in-service date. How do you amend tax returns Basis for depreciation. How do you amend tax returns Recovery period. How do you amend tax returns Convention. How do you amend tax returns Depreciation method. How do you amend tax returns Finally, this part explains how to use this information to figure your depreciation deduction. How do you amend tax returns Which Depreciation System (GDS or ADS) Applies? Your use of either the General Depreciation System (GDS) or the Alternative Depreciation System (ADS) to depreciate property under MACRS determines what depreciation method and recovery period you use. How do you amend tax returns You generally must use GDS unless you are specifically required by law to use ADS or you elect to use ADS. How do you amend tax returns Required use of ADS. How do you amend tax returns   You must use ADS for the following property. How do you amend tax returns All property used predominantly in a farming business and placed in service in any tax year during which an election not to apply the uniform capitalization rules to certain farming costs is in effect. How do you amend tax returns Listed property used 50% or less in a qualified business use. How do you amend tax returns See Additional Rules for Listed Property , later. How do you amend tax returns Any tax-exempt use property. How do you amend tax returns Any tax-exempt bond-financed property. How do you amend tax returns Any property imported from a foreign country for which an Executive Order is in effect because the country maintains trade restrictions or engages in other discriminatory acts. How do you amend tax returns Any tangible property used predominantly outside the United States during the year. How do you amend tax returns If you are required to use ADS to depreciate your property, you cannot claim the special depreciation allowance. How do you amend tax returns Electing ADS. How do you amend tax returns   Although your property may qualify for GDS, you can elect to use ADS. How do you amend tax returns The election generally must cover all property in the same property class you placed in service during the year. How do you amend tax returns However, the election for residential rental property and nonresidential real property can be made on a property-by-property basis. How do you amend tax returns Once you make this election, you can never revoke it. How do you amend tax returns   You make the election by completing line 20 in Part III of Form 4562. How do you amend tax returns Which Property Class Applies Under GDS? The following is a list of the nine property classes under GDS. How do you amend tax returns 3-year property. How do you amend tax returns 5-year property. How do you amend tax returns 7-year property. How do you amend tax returns 10-year property. How do you amend tax returns 15-year property. How do you amend tax returns 20-year property. How do you amend tax returns 25-year property. How do you amend tax returns Residential rental property. How do you amend tax returns Nonresidential real property. How do you amend tax returns See Which Property Class Applies Under GDS in chapter 4 of Publication 946 for examples of the types of property included in each class. How do you amend tax returns What Is the Placed-in-Service Date? You begin to claim depreciation when your property is placed in service for use either in a trade or business or for the production of income. How do you amend tax returns The placed-in-service date for your property is the date the property is ready and available for a specific use. How do you amend tax returns It is therefore not necessarily the date it is first used. How do you amend tax returns If you converted property held for personal use to use in a trade or business or for the production of income, treat the property as being placed in service on the conversion date. How do you amend tax returns See Placed in Service under When Does Depreciation Begin and End , earlier, for examples illustrating when property is placed in service. How do you amend tax returns What Is the Basis for Depreciation? The basis for depreciation of MACRS property is the property's cost or other basis multiplied by the percentage of business/investment use. How do you amend tax returns Reduce that amount by any credits and deductions allocable to the property. How do you amend tax returns The following are examples of some of the credits and deductions that reduce basis. How do you amend tax returns Any deduction for section 179 property. How do you amend tax returns Any deduction for removal of barriers to the disabled and the elderly. How do you amend tax returns Any disabled access credit, enhanced oil recovery credit, and credit for employer-provided childcare facilities and services. How do you amend tax returns Any special depreciation allowance. How do you amend tax returns Basis adjustment for investment credit property under section 50(c) of the Internal Revenue Code. How do you amend tax returns For information about how to determine the cost or other basis of property, see What Is the Basis of Your Depreciable Property , earlier. How do you amend tax returns Also, see chapter 6. How do you amend tax returns For additional credits and deductions that affect basis, see section 1016 of the Internal Revenue Code. How do you amend tax returns Which Recovery Period Applies? The recovery period of property is the number of years over which you recover its cost or other basis. How do you amend tax returns It is determined based on the depreciation system (GDS or ADS) used. How do you amend tax returns See Table 7-1 for recovery periods under both GDS and ADS for some commonly used assets. How do you amend tax returns For a complete list of recovery periods, see the Table of Class Lives and Recovery Periods in Appendix B of Publication 946. How do you amend tax returns House trailers for farm laborers. How do you amend tax returns   To depreciate a house trailer you supply as housing for those who work on your farm, use one of the following recovery periods if the house trailer is mobile (it has wheels and a history of movement). How do you amend tax returns A 7-year recovery period under GDS. How do you amend tax returns A 10-year recovery period under ADS. How do you amend tax returns   However, if the house trailer is not mobile (its wheels have been removed and permanent utilities and pipes attached to it), use one of the following recovery periods. How do you amend tax returns A 20-year recovery period under GDS. How do you amend tax returns A 25-year recovery period under ADS. How do you amend tax returns Water wells. How do you amend tax returns   Water wells used to provide water for raising poultry and livestock are land improvements. How do you amend tax returns If they are depreciable, use one of the following recovery periods. How do you amend tax returns A 15-year recovery period under GDS. How do you amend tax returns A 20-year recovery period under ADS. How do you amend tax returns   The types of water wells that can be depreciated were discussed earlier in Irrigation systems and water wells under Property Having a Determinable Useful Life . How do you amend tax returns Table 7-1. How do you amend tax returns Farm Property Recovery Periods   Recovery Period in Years Assets GDS ADS Agricultural structures (single purpose) 10 15 Automobiles 5 5 Calculators and copiers 5 6 Cattle (dairy or breeding) 5 7 Communication equipment1 7 10 Computer and peripheral equipment 5 5 Drainage facilities 15 20 Farm buildings2 20 25 Farm machinery and equipment 7 10 Fences (agricultural) 7 10 Goats and sheep (breeding) 5 5 Grain bin 7 10 Hogs (breeding) 3 3 Horses (age when placed in service)     Breeding and working (12 years or less) 7 10 Breeding and working (more than 12 years) 3 10 Racing horses 3 12 Horticultural structures (single purpose) 10 15 Logging machinery and equipment3 5 6 Nonresidential real property 394 40 Office furniture, fixtures, and equipment (not calculators, copiers, or typewriters) 7 10 Paved lots 15 20 Residential rental property 27. How do you amend tax returns 5 40 Tractor units (over-the-road) 3 4 Trees or vines bearing fruit or nuts 10 20 Truck (heavy duty, unloaded weight 13,000 lbs. How do you amend tax returns or more) 5 6 Truck (actual weight less than 13,000 lbs) 5 5 Water wells 15 20 1 Not including communication equipment listed in other classes. How do you amend tax returns 2 Not including single purpose agricultural or horticultural structures. How do you amend tax returns 3 Used by logging and sawmill operators for cutting of timber. How do you amend tax returns 4 For property placed in service after May 12, 1993; for property placed in service before May 13, 1993,  the recovery period is 31. How do you amend tax returns 5 years. How do you amend tax returns Which Convention Applies? Under MACRS, averaging conventions establish when the recovery period begins and ends. How do you amend tax returns The convention you use determines the number of months for which you can claim depreciation in the year you place property in service and in the year you dispose of the property. How do you amend tax returns Use one of the following conventions. How do you amend tax returns The half-year convention. How do you amend tax returns The mid-month convention. How do you amend tax returns The mid-quarter convention. How do you amend tax returns For a detailed explanation of each convention, see Which Convention Applies in chapter 4 of Publication 946. How do you amend tax returns Also, see the Instructions for Form 4562. How do you amend tax returns Which Depreciation Method Applies? MACRS provides three depreciation methods under GDS and one depreciation method under ADS. How do you amend tax returns The 200% declining balance method over a GDS recovery period. How do you amend tax returns The 150% declining balance method over a GDS recovery period. How do you amend tax returns The straight line method over a GDS recovery period. How do you amend tax returns The straight line method over an ADS recovery period. How do you amend tax returns Depreciation Table. How do you amend tax returns   The following table lists the types of property you can depreciate under each method. How do you amend tax returns The declining balance method is abbreviated as DB and the straight line method is abbreviated as SL. How do you amend tax returns Depreciation Table System/Method   Type of Property GDS using  150% DB • All property used in a farming business (except real property)   • All 15- and 20-year property   • Nonfarm 3-, 5-, 7-, and 10-year property1 GDS using SL • Nonresidential real property   • Residential rental property   • Trees or vines bearing fruit or nuts   • All 3-, 5-, 7-, 10-, 15-, and 20-year property1 ADS using SL • Property used predomi- nantly outside the United States   • Farm property used when an election not to apply the uniform capitalization rules is in effect   • Tax-exempt property   • Tax-exempt bond-financed property   • Imported property2   • Any property for which you elect to use this method1 GDS using  200% DB • Nonfarm 3-, 5-, 7-, and 10-year property 1Elective method 2See section 168(g)(6) of the Internal Revenue  Code Property used in farming business. How do you amend tax returns   For personal property placed in service after 1988 in a farming business, you must use the 150% declining balance method over a GDS recovery period or you can elect one of the following methods. How do you amend tax returns The straight line method over a GDS recovery period. How do you amend tax returns The straight line method over an ADS recovery period. How do you amend tax returns For property placed in service before 1999, you could have elected to use the 150% declining balance method using the ADS recovery periods for certain property classes. How do you amend tax returns If you made this election, continue to use the same method and recovery period for that property. How do you amend tax returns Real property. How do you amend tax returns   You can depreciate real property using the straight line method under either GDS or ADS. How do you amend tax returns Switching to straight line. How do you amend tax returns   If you use a declining balance method, you switch to the straight line method in the year it provides an equal or greater deduction. How do you amend tax returns If you use the MACRS percentage tables, discussed later under How Is the Depreciation Deduction Figured , you do not need to determine in which year your deduction is greater using the straight line method. How do you amend tax returns The tables have the switch to the straight line method built into their rates. How do you amend tax returns Fruit or nut trees and vines. How do you amend tax returns   Depreciate trees and vines bearing fruit or nuts under GDS using the straight line method over a 10-year recovery period. How do you amend tax returns ADS required for some farmers. How do you amend tax returns   If you elect not to apply the uniform capitalization rules to any plant shown in Table 6-1 of chapter 6 and produced in your farming business, you must use ADS for all property you place in service in any year the election is in effect. How do you amend tax returns See chapter 6 for a discussion of the application of the uniform capitalization rules to farm property. How do you amend tax returns Electing a different method. How do you amend tax returns   As shown in the Depreciation Table , you can elect a different method for depreciation for certain types of property. How do you amend tax returns You must make the election by the due date of the return (including extensions) for the year you placed the property in service. How do you amend tax returns 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 your return (excluding extensions). How do you amend tax returns Attach the election to the amended return and write “Filed pursuant to section 301. How do you amend tax returns 9100-2” on the election statement. How do you amend tax returns File the amended return at the same address you filed the original return. How do you amend tax returns Once you make the election, you cannot change it. How do you amend tax returns    If you elect to use a different method for one item in a property class, you must apply the same method to all property in that class placed in service during the year of the election. How do you amend tax returns However, you can make the election on a property-by-property basis for residential rental and nonresidential real property. How do you amend tax returns Straight line election. How do you amend tax returns   Instead of using the declining balance method, you can elect to use the straight line method over the GDS recovery period. How do you amend tax returns Make the election by entering “S/L” under column (f) in Part III of Form 4562. How do you amend tax returns ADS election. How do you amend tax returns   As explained earlier under Which Depreciation System (GDS or ADS) Applies , you can elect to use ADS even though your property may come under GDS. How do you amend tax returns ADS uses the straight line method of depreciation over the ADS recovery periods, which are generally longer than the GDS recovery periods. How do you amend tax returns The ADS recovery periods for many assets used in the business of farming are listed in Table 7–1. How do you amend tax returns Additional ADS recovery periods for other classes of property may be found in the Table of Class Lives and Recovery Periods in Appendix B of Publication 946. How do you amend tax returns How Is the Depreciation Deduction Figured? To figure your depreciation deduction under MACRS, you first determine the depreciation system, property class, placed-in-service date, basis amount, recovery period, convention, and depreciation method that applies to your property. How do you amend tax returns Then you are ready to figure your depreciation deduction. How do you amend tax returns You can figure it in one of two ways. How do you amend tax returns You can use the percentage tables provided by the IRS. How do you amend tax returns You can figure your own deduction without using the tables. How do you amend tax returns Figuring your own MACRS deduction will generally result in a slightly different amount than using the tables. How do you amend tax returns Using the MACRS Percentage Tables To help you figure your deduction under MACRS, the IRS has established percentage tables that incorporate the applicable convention and depreciation method. How do you amend tax returns These percentage tables are in Appendix A of Publication 946. How do you amend tax returns Rules for using the tables. How do you amend tax returns   The following rules cover the use of the percentage tables. How do you amend tax returns You must apply the rates in the percentage tables to your property's unadjusted basis. How do you amend tax returns Unadjusted basis is the same basis amount you would use to figure gain on a sale but figured without reducing your original basis by any MACRS depreciation taken in earlier years. How do you amend tax returns You cannot use the percentage tables for a short tax year. How do you amend tax returns See chapter 4 of Publication 946 for information on how to figure the deduction for a short tax year. How do you amend tax returns You generally must continue to use them for the entire recovery period of the property. How do you amend tax returns You must stop using the tables if you adjust the basis of the property for any reason other than— Depreciation allowed or allowable, or An addition or improvement to the property, which is depreciated as a separate property. How do you amend tax returns Basis adjustment due to casualty loss. How do you amend tax returns   If you reduce the basis of your property because of a casualty, you cannot continue to use the percentage tables. How do you amend tax returns For the year of the adjustment and the remaining recovery period, you must figure the depreciation yourself using the property's adjusted basis at the end of the year. How do you amend tax returns See Figuring the Deduction Without Using the Tables in chapter 4 of Publication 946. How do you amend tax returns Figuring depreciation using the 150% DB method and half-year convention. How do you amend tax returns    Table 7-2 has the percentages for 3-, 5-, 7-, and 20-year property. How do you amend tax returns The percentages are based on the 150% declining balance method with a change to the straight line method. How do you amend tax returns This table covers only the half-year convention and the first 8 years for 20-year property. How do you amend tax returns See Appendix A in Publication 946 for complete MACRS tables, including tables for the mid-quarter and mid-month convention. How do you amend tax returns   The following examples show how to figure depreciation under MACRS using the percentages in Table 7-2 . How do you amend tax returns Example 1. How do you amend tax returns During the year, you bought an item of 7-year property for $10,000 and placed it in service. How do you amend tax returns You do not elect a section 179 expense deduction for this property. How do you amend tax returns In addition, the property is not qualified property for purposes of the special depreciation allowance. How do you amend tax returns The unadjusted basis of the property is $10,000. How do you amend tax returns You use the percentages in Table 7-2 to figure your deduction. How do you amend tax returns Since this is 7-year property, you multiply $10,000 by 10. How do you amend tax returns 71% to get this year's depreciation of $1,071. How do you amend tax returns For next year, your depreciation will be $1,913 ($10,000 × 19. How do you amend tax returns 13%). How do you amend tax returns Example 2. How do you amend tax returns You had a barn constructed on your farm at a cost of $20,000. How do you amend tax returns You placed the barn in service this year. How do you amend tax returns You elect not to claim the special depreciation allowance. How do you amend tax returns The barn is 20-year property and you use the table percentages to figure your deduction. How do you amend tax returns You figure this year's depreciation by multiplying $20,000 (unadjusted basis) by 3. How do you amend tax returns 75% to get $750. How do you amend tax returns For next year, your depreciation will be $1,443. How do you amend tax returns 80 ($20,000 × 7. How do you amend tax returns 219%). How do you amend tax returns Table 7-2. How do you amend tax returns 150% Declining Balance Method (Half-Year Convention) Year 3-Year 5-Year 7-Year 20-Year 1 25. How do you amend tax returns 0 % 15. How do you amend tax returns 00 % 10. How do you amend tax returns 71 % 3. How do you amend tax returns 750 % 2 37. How do you amend tax returns 5   25. How do you amend tax returns 50   19. How do you amend tax returns 13   7. How do you amend tax returns 219   3 25. How do you amend tax returns 0   17. How do you amend tax returns 85   15. How do you amend tax returns 03   6. How do you amend tax returns 677   4 12. How do you amend tax returns 5   16. How do you amend tax returns 66   12. How do you amend tax returns 25   6. How do you amend tax returns 177   5     16. How do you amend tax returns 66   12. How do you amend tax returns 25   5. How do you amend tax returns 713   6     8. How do you amend tax returns 33   12. How do you amend tax returns 25   5. How do you amend tax returns 285   7         12. How do you amend tax returns 25   4. How do you amend tax returns 888   8         6. How do you amend tax returns 13   4. How do you amend tax returns 522   Figuring depreciation using the straight line method and half-year convention. How do you amend tax returns   The following table has the straight line percentages for 3-, 5-, 7-, and 20-year property using the half-year convention. How do you amend tax returns The table covers only the first 8 years for 20-year property. How do you amend tax returns See Appendix A in Publication 946 for complete MACRS tables, including tables for the mid-quarter and mid-month convention. How do you amend tax returns Table 7-3. How do you amend tax returns Straight Line Method (Half-Year Convention) Year 3-Year 5-Year 7-Year 20-Year 1 16. How do you amend tax returns 67 % 10 % 7. How do you amend tax returns 14 % 2. How do you amend tax returns 5 % 2 33. How do you amend tax returns 33   20   14. How do you amend tax returns 29   5. How do you amend tax returns 0   3 33. How do you amend tax returns 33   20   14. How do you amend tax returns 29   5. How do you amend tax returns 0   4 16. How do you amend tax returns 67   20   14. How do you amend tax returns 28   5. 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