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Taxact 2007 3. Taxact 2007 Reporting Rental Income, Expenses, and Losses Table of Contents Which Forms To UseSchedule E (Form 1040) Schedule C (Form 1040), Profit or Loss From Business Qualified Joint Venture Limits on Rental LossesAt-Risk Rules Passive Activity Limits Casualties and Thefts Example Figuring the net income or loss for a residential rental activity may involve more than just listing the income and deductions on Schedule E (Form 1040). Taxact 2007 There are activities which do not qualify to use Schedule E, such as when the activity is not engaged in to make a profit or when you provide substantial services in conjunction with the property. Taxact 2007 There are also the limitations which may need to be applied if you have a net loss on Schedule E. Taxact 2007 There are two: (1) the limitation based on the amount of investment you have at risk in your rental activity, and (2) the special limits imposed on passive activities. Taxact 2007 You may also have a gain or loss related to your rental property from a casualty or theft. Taxact 2007 This is considered separately from the income and expense information you report on Schedule E. Taxact 2007 Which Forms To Use The basic form for reporting residential rental income and expenses is Schedule E (Form 1040). Taxact 2007 However, do not use that schedule to report a not-for-profit activity. Taxact 2007 See Not Rented for Profit , in chapter 4. Taxact 2007 There are also other rental situations in which forms other than Schedule E would be used. Taxact 2007 Schedule E (Form 1040) If you rent buildings, rooms, or apartments, and provide basic services such as heat and light, trash collection, etc. Taxact 2007 , you normally report your rental income and expenses on Schedule E, Part I. Taxact 2007 List your total income, expenses, and depreciation for each rental property. Taxact 2007 Be sure to enter the number of fair rental and personal use days on line 2. Taxact 2007 If you have more than three rental or royalty properties, complete and attach as many Schedules E as are needed to list the properties. Taxact 2007 Complete lines 1 and 2 for each property. Taxact 2007 However, fill in lines 23a through 26 on only one Schedule E. Taxact 2007 On Schedule E, page 1, line 18, enter the depreciation you are claiming for each property. Taxact 2007 To find out if you need to attach Form 4562, see Form 4562 , later. Taxact 2007 If you have a loss from your rental real estate activity, you also may need to complete one or both of the following forms. Taxact 2007 Form 6198, At-Risk Limitations. Taxact 2007 See At-Risk Rules , later. Taxact 2007 Also see Publication 925. Taxact 2007 Form 8582, Passive Activity Loss Limitations. Taxact 2007 See Passive Activity Limits , later. Taxact 2007 Page 2 of Schedule E is used to report income or loss from partnerships, S corporations, estates, trusts, and real estate mortgage investment conduits. Taxact 2007 If you need to use page 2 of Schedule E, be sure to use page 2 of the same Schedule E you used to enter your rental activity on page 1. Taxact 2007 Also, include the amount from line 26 (Part I) in the “Total income or (loss)” on line 41 (Part V). Taxact 2007 Form 4562. Taxact 2007 You must complete and attach Form 4562 for rental activities only if you are claiming: Depreciation, including the special depreciation allowance, on property placed in service during 2013; Depreciation on listed property (such as a car), regardless of when it was placed in service; or Any other car expenses, including the standard mileage rate or lease expenses. Taxact 2007 Otherwise, figure your depreciation on your own worksheet. Taxact 2007 You do not have to attach these computations to your return, but you should keep them in your records for future reference. Taxact 2007 See Publication 946 for information on preparing Form 4562. Taxact 2007 Schedule C (Form 1040), Profit or Loss From Business Generally, Schedule C is used when you provide substantial services in conjunction with the property or the rental is part of a trade or business as a real estate dealer. Taxact 2007 Providing substantial services. Taxact 2007 If you provide substantial services that are primarily for your tenant's convenience, such as regular cleaning, changing linen, or maid service, you report your rental income and expenses on Schedule C (Form 1040), Profit or Loss From Business, or Schedule C-EZ (Form 1040), Net Profit From Business. Taxact 2007 Use Form 1065, U. Taxact 2007 S. Taxact 2007 Return of Partnership Income, if your rental activity is a partnership (including a partnership with your spouse unless it is a qualified joint venture). Taxact 2007 Substantial services do not include the furnishing of heat and light, cleaning of public areas, trash collection, etc. Taxact 2007 For information, see Publication 334, Tax Guide for Small Business. Taxact 2007 Also, you may have to pay self-employment tax on your rental income using Schedule SE (Form 1040), Self-Employment Tax. Taxact 2007 For a discussion of “substantial services,” see Real Estate Rents in Publication 334, chapter 5. Taxact 2007 Qualified Joint Venture If you and your spouse each materially participate (see Material participation under Passive Activity Limits, later) as the only members of a jointly owned and operated real estate business, and you file a joint return for the tax year, you can make a joint election to be treated as a qualified joint venture instead of a partnership. Taxact 2007 This election, in most cases, will not increase the total tax owed on the joint return, but it does give each of you credit for social security earnings on which retirement benefits are based and for Medicare coverage if your rental income is subject to self-employment tax. Taxact 2007 If you make this election, you must report rental real estate income on Schedule E (or Schedule C if you provide substantial services). Taxact 2007 You will not be required to file Form 1065 for any year the election is in effect. Taxact 2007 Rental real estate income generally is not included in net earnings from self-employment subject to self-employment tax and generally is subject to the passive activity limits. Taxact 2007 If you and your spouse filed a Form 1065 for the year prior to the election, the partnership terminates at the end of the tax year immediately preceding the year the election takes effect. Taxact 2007 For more information on qualified joint ventures, go to IRS. Taxact 2007 gov and enter “qualified joint venture” in the search box. Taxact 2007 Limits on Rental Losses If you have a loss from your rental real estate activity, two sets of rules may limit the amount of loss you can deduct. Taxact 2007 You must consider these rules in the order shown below. Taxact 2007 Both are discussed in this section. Taxact 2007 At-risk rules. Taxact 2007 These rules are applied first if there is investment in your rental real estate activity for which you are not at risk. Taxact 2007 This applies only if the real property was placed in service after 1986. Taxact 2007 Passive activity limits. Taxact 2007 Generally, rental real estate activities are considered passive activities and losses are not deductible unless you have income from other passive activities to offset them. Taxact 2007 However, there are exceptions. Taxact 2007 At-Risk Rules You may be subject to the at-risk rules if you have: A loss from an activity carried on as a trade or business or for the production of income, and Amounts invested in the activity for which you are not fully at risk. Taxact 2007 Losses from holding real property (other than mineral property) placed in service before 1987 are not subject to the at-risk rules. Taxact 2007 In most cases, any loss from an activity subject to the at-risk rules is allowed only to the extent of the total amount you have at risk in the activity at the end of the tax year. Taxact 2007 You are considered at risk in an activity to the extent of cash and the adjusted basis of other property you contributed to the activity and certain amounts borrowed for use in the activity. Taxact 2007 Any loss that is disallowed because of the at-risk limits is treated as a deduction from the same activity in the next tax year. Taxact 2007 See Publication 925 for a discussion of the at-risk rules. Taxact 2007 Form 6198. Taxact 2007 If you are subject to the at-risk rules, file Form 6198, At-Risk Limitations, with your tax return. Taxact 2007 Passive Activity Limits In most cases, all rental real estate activities (except those of certain real estate professionals, discussed later) are passive activities. Taxact 2007 For this purpose, a rental activity is an activity from which you receive income mainly for the use of tangible property, rather than for services. Taxact 2007 For a discussion of activities that are not considered rental activities, see Rental Activities in Publication 925. Taxact 2007 Deductions or losses from passive activities are limited. Taxact 2007 You generally cannot offset income, other than passive income, with losses from passive activities. Taxact 2007 Nor can you offset taxes on income, other than passive income, with credits resulting from passive activities. Taxact 2007 Any excess loss or credit is carried forward to the next tax year. Taxact 2007 Exceptions to the rules for figuring passive activity limits for personal use of a dwelling unit and for rental real estate with active participation are discussed later. Taxact 2007 For a detailed discussion of these rules, see Publication 925. Taxact 2007 Real estate professionals. Taxact 2007 If you are a real estate professional, complete line 43 of Schedule E. Taxact 2007 You qualify as a real estate professional for the tax year if you meet both of the following requirements. Taxact 2007 More than half of the personal services you perform in all trades or businesses during the tax year are performed in real property trades or businesses in which you materially participate. Taxact 2007 You perform more than 750 hours of services during the tax year in real property trades or businesses in which you materially participate. Taxact 2007 If you qualify as a real estate professional, rental real estate activities in which you materially participated are not passive activities. Taxact 2007 For purposes of determining whether you materially participated in your rental real estate activities, each interest in rental real estate is a separate activity unless you elect to treat all your interests in rental real estate as one activity. Taxact 2007 Do not count personal services you perform as an employee in real property trades or businesses unless you are a 5% owner of your employer. Taxact 2007 You are a 5% owner if you own (or are considered to own) more than 5% of your employer's outstanding stock, or capital or profits interest. Taxact 2007 Do not count your spouse's personal services to determine whether you met the requirements listed earlier to qualify as a real estate professional. Taxact 2007 However, you can count your spouse's participation in an activity in determining if you materially participated. Taxact 2007 Real property trades or businesses. Taxact 2007 A real property trade or business is a trade or business that does any of the following with real property. Taxact 2007 Develops or redevelops it. Taxact 2007 Constructs or reconstructs it. Taxact 2007 Acquires it. Taxact 2007 Converts it. Taxact 2007 Rents or leases it. Taxact 2007 Operates or manages it. Taxact 2007 Brokers it. Taxact 2007 Choice to treat all interests as one activity. Taxact 2007 If you were a real estate professional and had more than one rental real estate interest during the year, you can choose to treat all the interests as one activity. Taxact 2007 You can make this choice for any year that you qualify as a real estate professional. Taxact 2007 If you forgo making the choice for one year, you can still make it for a later year. Taxact 2007 If you make the choice, it is binding for the tax year you make it and for any later year that you are a real estate professional. Taxact 2007 This is true even if you are not a real estate professional in any intervening year. Taxact 2007 (For that year, the exception for real estate professionals will not apply in determining whether your activity is subject to the passive activity rules. Taxact 2007 ) See the Instructions for Schedule E for information about making this choice. Taxact 2007 Material participation. Taxact 2007 Generally, you materially participated in an activity for the tax year if you were involved in its operations on a regular, continuous, and substantial basis during the year. Taxact 2007 For details, see Publication 925 or the Instructions for Schedule C. Taxact 2007 Participating spouse. Taxact 2007 If you are married, determine whether you materially participated in an activity by also counting any participation in the activity by your spouse during the year. Taxact 2007 Do this even if your spouse owns no interest in the activity or files a separate return for the year. Taxact 2007 Form 8582. Taxact 2007 You may have to complete Form 8582 to figure the amount of any passive activity loss for the current tax year for all activities and the amount of the passive activity loss allowed on your tax return. Taxact 2007 See Form 8582 not required , later in this chapter, to determine if you must complete Form 8582. Taxact 2007 If you are required to complete Form 8582 and are also subject to the at-risk rules, include the amount from Form 6198, line 21 (deductible loss) in column (b) of Form 8582, Worksheet 1 or 3, as required. Taxact 2007 Exception for Personal Use of Dwelling Unit If you used the rental property as a home during the year, any income, deductions, gain, or loss allocable to such use shall not be taken into account for purposes of the passive activity loss limitation. Taxact 2007 Instead, follow the rules explained in chapter 5, Personal Use of Dwelling Unit (Including Vacation Home). Taxact 2007 Exception for Rental Real Estate With Active Participation If you or your spouse actively participated in a passive rental real estate activity, you may be able to deduct up to $25,000 of loss from the activity from your nonpassive income. Taxact 2007 This special allowance is an exception to the general rule disallowing losses in excess of income from passive activities. Taxact 2007 Similarly, you may be able to offset credits from the activity against the tax on up to $25,000 of nonpassive income after taking into account any losses allowed under this exception. Taxact 2007 Example. Taxact 2007 Jane is single and has $40,000 in wages, $2,000 of passive income from a limited partnership, and $3,500 of passive loss from a rental real estate activity in which she actively participated. Taxact 2007 $2,000 of Jane's $3,500 loss offsets her passive income. Taxact 2007 The remaining $1,500 loss can be deducted from her $40,000 wages. Taxact 2007 The special allowance is not available if you were married, lived with your spouse at any time during the year, and are filing a separate return. Taxact 2007 Active participation. Taxact 2007 You actively participated in a rental real estate activity if you (and your spouse) owned at least 10% of the rental property and you made management decisions or arranged for others to provide services (such as repairs) in a significant and bona fide sense. Taxact 2007 Management decisions that may count as active participation include approving new tenants, deciding on rental terms, approving expenditures, and other similar decisions. Taxact 2007 Example. Taxact 2007 Mike is single and had the following income and losses during the tax year: Salary $42,300 Dividends 300 Interest 1,400 Rental loss (4,000) The rental loss was from the rental of a house Mike owned. Taxact 2007 Mike had advertised and rented the house to the current tenant himself. Taxact 2007 He also collected the rents, which usually came by mail. Taxact 2007 All repairs were either made or contracted out by Mike. Taxact 2007 Although the rental loss is from a passive activity, because Mike actively participated in the rental property management he can use the entire $4,000 loss to offset his other income. Taxact 2007 Maximum special allowance. Taxact 2007 The maximum special allowance is: $25,000 for single individuals and married individuals filing a joint return for the tax year, $12,500 for married individuals who file separate returns for the tax year and lived apart from their spouses at all times during the tax year, and $25,000 for a qualifying estate reduced by the special allowance for which the surviving spouse qualified. Taxact 2007 If your modified adjusted gross income (MAGI) is $100,000 or less ($50,000 or less if married filing separately), you can deduct your loss up to the amount specified above. Taxact 2007 If your MAGI is more than $100,000 (more than $50,000 if married filing separately), your special allowance is limited to 50% of the difference between $150,000 ($75,000 if married filing separately) and your MAGI. Taxact 2007 Generally, if your MAGI is $150,000 or more ($75,000 or more if you are married filing separately), there is no special allowance. Taxact 2007 Modified adjusted gross income (MAGI). Taxact 2007 This is your adjusted gross income from Form 1040, U. Taxact 2007 S. Taxact 2007 Individual Income Tax Return, line 38, or Form 1040NR, U. Taxact 2007 S. Taxact 2007 Nonresident Alien Income Tax Return, line 37, figured without taking into account: The taxable amount of social security or equivalent tier 1 railroad retirement benefits, The deductible contributions to traditional individual retirement accounts (IRAs) and section 501(c)(18) pension plans, The exclusion from income of interest from Series EE and I U. Taxact 2007 S. Taxact 2007 savings bonds used to pay higher educational expenses, The exclusion of amounts received under an employer's adoption assistance program, Any passive activity income or loss included on Form 8582, Any rental real estate loss allowed to real estate professionals, Any overall loss from a publicly traded partnership (see Publicly Traded Partnerships (PTPs) in the Instructions for Form 8582), The deduction allowed for one-half of self-employment tax, The deduction allowed for interest paid on student loans, The deduction for qualified tuition and related fees, and The domestic production activities deduction (see the Instructions for Form 8903). Taxact 2007 Form 8582 not required. Taxact 2007 Do not complete Form 8582 if you meet all of the following conditions. Taxact 2007 Your only passive activities were rental real estate activities in which you actively participated. Taxact 2007 Your overall net loss from these activities is $25,000 or less ($12,500 or less if married filing separately and you lived apart from your spouse all year). Taxact 2007 If married filing separately, you lived apart from your spouse all year. Taxact 2007 You have no prior year unallowed losses from these (or any other passive) activities. Taxact 2007 You have no current or prior year unallowed credits from passive activities. Taxact 2007 Your MAGI is $100,000 or less ($50,000 or less if married filing separately and you lived apart from your spouse all year). Taxact 2007 You do not hold any interest in a rental real estate activity as a limited partner or as a beneficiary of an estate or a trust. Taxact 2007 If you meet all of the conditions listed above, your rental real estate activities are not limited by the passive activity rules and you do not have to complete Form 8582. Taxact 2007 On lines 23a through 23e of your Schedule E, enter the applicable amounts. Taxact 2007 Casualties and Thefts As a result of a casualty or theft, you may have a loss related to your rental property. Taxact 2007 You may be able to deduct the loss on your income tax return. Taxact 2007 Casualty. Taxact 2007 This is the damage, destruction, or loss of property resulting from an identifiable event that is sudden, unexpected, or unusual. Taxact 2007 Such events include a storm, fire, or earthquake. Taxact 2007 Theft. Taxact 2007 This is defined as the unlawful taking and removing of your money or property with the intent to deprive you of it. Taxact 2007 Gain from casualty or theft. Taxact 2007 It is also possible to have a gain from a casualty or theft if you receive money, including insurance, that is more than your adjusted basis in the property. Taxact 2007 Generally, you must report this gain. Taxact 2007 However, under certain circumstances, you may defer paying tax by choosing to postpone reporting the gain. Taxact 2007 To do this, you generally must buy replacement property within 2 years after the close of the first tax year in which any part of your gain is realized. Taxact 2007 In certain circumstances, the replacement period can be greater than 2 years; see Replacement Period in Publication 547 for more information. Taxact 2007 The cost of the replacement property must be equal to or more than the net insurance or other payment you received. Taxact 2007 More information. Taxact 2007 For information on business and nonbusiness casualty and theft losses, see Publication 547. Taxact 2007 How to report. Taxact 2007 If you had a casualty or theft that involved property used in your rental activity, figure the net gain or loss in Section B of Form 4684, Casualties and Thefts. Taxact 2007 Follow the Instructions for Form 4684 for where to carry your net gain or loss. Taxact 2007 Example In February 2008, Marie Pfister bought a rental house for $135,000 (house $120,000 and land $15,000) and immediately began renting it out. Taxact 2007 In 2013, she rented it all 12 months for a monthly rental fee of $1,125. Taxact 2007 In addition to her rental income of $13,500 (12 x $1,125), Marie had the following expenses. Taxact 2007 Mortgage interest $8,000 Fire insurance (1-year policy) 250 Miscellaneous repairs 400 Real estate taxes imposed and paid 500 Maintenance 200 Marie depreciates the residential rental property under MACRS GDS. Taxact 2007 This means using the straight line method over a recovery period of 27. Taxact 2007 5 years. Taxact 2007 She uses Table 2-2d to find her depreciation percentage. Taxact 2007 Because she placed the property in service in February 2008, she continues to use that row of Table 2-2d. Taxact 2007 For year 6, the rate is 3. Taxact 2007 636%. Taxact 2007 Marie figures her net rental income or loss for the house as follows: Total rental income received ($1,125 × 12) $13,500 Minus: Expenses Mortgage interest $8,000 Fire insurance 250 Miscellaneous repairs 400 Real estate taxes 500 Maintenance 200 Total expenses 9,350 Balance $4,150 Minus: Depreciation ($120,000 x 3. Taxact 2007 636%) 4,363 Net rental (loss) for house ($213) Marie had a net loss for the year. Taxact 2007 Because she actively participated in her passive rental real estate activity and her loss was less than $25,000, she can deduct the loss on her return. Taxact 2007 Marie also meets all of the requirements for not having to file Form 8582. Taxact 2007 She uses Schedule E, Part I, to report her rental income and expenses. Taxact 2007 She enters her income, expenses, and depreciation for the house in the column for Property A and enters her loss on line 22. Taxact 2007 Form 4562 is not required. Taxact 2007 Prev Up Next Home More Online Publications
Consumer Tips and Your Education
Consumer Information: 5 Step Financial Literacy Series
The Federal Reserve Board has updated their 5 Step Series which includes: 5 Tips to Avoiding Foreclosure Scams, 5 Tips to Getting the Most From Your Credit Card, 5 Tips for Improving Your Credit Score, 5 Tips for Protecting Your Checking Account, and 5 Tips For Protecting Your Home From Foreclosure.
Consumer U: Tips for College Students
Millions of young people are arriving on the nation's college campuses this week. Many of them will be embarking on a life without parents for the first time. Unfortunately, many of these young people will be entering the marketplace on their own, with precious little understanding of how to navigate it successfully. Worse, many students may fall prey to scams targeting college students. With this in mind, here are a few tips for young consumers heading out on their own, whether to college or just their first apartment.
The Taxact 2007
Taxact 2007 Index A Acknowledgment, Acknowledgment. Taxact 2007 Adoption expenses, Personal Expenses Airplanes, donations of, Cars, Boats, and Airplanes Appraisal fees, Appraisal Fees Assistance (see Tax help) Athletic events, Athletic events. Taxact 2007 B Bargain sales, Bargain Sales Blood donated, Value of Time or Services Boats, donations of, Cars, Boats, and Airplanes Boats, fair market value, Cars, boats, and airplanes. Taxact 2007 C Canadian charity, Canadian charities. Taxact 2007 Capital gain property, Capital Gain Property Car expenses, Car expenses. Taxact 2007 , Car expenses. Taxact 2007 Carryovers, Carryovers Cars, donations of, Cars, Boats, and Airplanes Cash contributions, records to keep, Cash Contributions Charity benefit events, Charity benefit events. Taxact 2007 Church deacon, Church deacon. Taxact 2007 Clothing Fair market value of, Used clothing. Taxact 2007 Conservation contribution, Special 50% Limit for Qualified Conservation Contributions Contributions from which you benefit, Contributions From Which You Benefit, Contributions From Which You Benefit Contributions of property, Contributions of Property Contributions subject to special rules Car, boat, or airplane, 1098–C, Contributions Subject to Special Rules Clothing, Contributions Subject to Special Rules Fractional interest in tangible personal property, Contributions Subject to Special Rules Future interest in tangible personal property, Contributions Subject to Special Rules Household items, Contributions Subject to Special Rules Inventory from your business, Contributions Subject to Special Rules Partial interest in property, Contributions Subject to Special Rules Patent or other intellectual property, Contributions Subject to Special Rules Property subject to a debt, Contributions Subject to Special Rules Qualified conservation contribution, Contributions Subject to Special Rules Taxidermy property, Contributions Subject to Special Rules Contributions to nonqualified organizations Foreign organizations, Contributions to Nonqualified Organizations Contributions you can deduct, Contributions You Can Deduct Conventions of a qualified organization, Conventions. Taxact 2007 D Daily allowance (per diem) from a charitable organization, Daily allowance (per diem). Taxact 2007 Deduction limits, Limits on Deductions Determining fair market value, Determining Fair Market Value Disaster relief, Reminders Donor-advised funds, Contributions to Donor-Advised Funds E Easement, Building in registered historic district. Taxact 2007 F Farmer, Qualified farmer or rancher. Taxact 2007 Food inventory, Food Inventory Foreign organizations Canadian, Canadian charities. Taxact 2007 Israeli, Israeli charities. Taxact 2007 Mexican, Mexican charities. Taxact 2007 Form 8282, Form 8282. Taxact 2007 8283, Total deduction over $500. Taxact 2007 Foster parents, Foster parents. Taxact 2007 Free tax services, Free help with your tax return. Taxact 2007 Future interests in property, Future Interest in Tangible Personal Property H Help (see Tax help) Historic building, Building in registered historic district. Taxact 2007 Household items Fair market value of, Household items. Taxact 2007 How to report, How To Report Noncash contributions, Reporting expenses for student living with you. Taxact 2007 I Introduction, Introduction Inventory, Food Inventory Israeli charity, Israeli charities. Taxact 2007 L Legislation, influencing, Contributions From Which You Benefit Limit on itemized deductions, What's New Limits on deductions, Limits on Deductions 20% limit, 20% Limit 30% limit, 30% Limit 50% limit, 50% Limit Calculation, How To Figure Your Deduction When Limits Apply Capital gain property, Special 30% Limit for Capital Gain Property Qualified conservation contributions, Special 50% Limit for Qualified Conservation Contributions M Meals, Personal Expenses Membership fees or dues, Membership fees or dues. Taxact 2007 Mexican charity, Mexican charities. Taxact 2007 Motor vehicles, donations of, Cars, Boats, and Airplanes Motor vehicles, fair market value, Cars, boats, and airplanes. Taxact 2007 N Noncash contributions, Noncash Contributions How to report, Reporting expenses for student living with you. Taxact 2007 Records to keep, Noncash Contributions Nondeductible contributions, Contributions You Cannot Deduct O Ordinary income property, Ordinary Income Property Out-of-pocket expenses, Out-of-pocket expenses. Taxact 2007 Out-of-pocket expenses in giving services, Out-of-Pocket Expenses in Giving Services P Payroll deductions, Payroll deductions. Taxact 2007 , Payroll deductions. Taxact 2007 Penalty, valuation overstatement, Penalty Personal expenses, Personal Expenses Private foundation, 50% Limit Organizations Private nonoperating foundation, Contributions to private nonoperating foundations. Taxact 2007 , 50% Limit Organizations Private operating foundation, 50% Limit Organizations Property Bargain sales, Bargain Sales Basis, Giving Property That Has Decreased in Value Capital gain, Capital Gain Property Capital gain election, Capital gain property election. Taxact 2007 Decreased in value, Giving Property That Has Decreased in Value Future interests, Future Interest in Tangible Personal Property Increased in value, Giving Property That Has Increased in Value Inventory, Food Inventory Ordinary income, Ordinary Income Property Unrelated use, Tangible personal property put to unrelated use. Taxact 2007 Publications (see Tax help) Q Qualified charitable distributions, Qualified Charitable Distributions Qualified conservation contribution, Special 50% Limit for Qualified Conservation Contributions Qualified organizations Foreign qualified organizations Canadian, Organizations That Qualify To Receive Deductible Contributions Israeli, Organizations That Qualify To Receive Deductible Contributions Mexican, Organizations That Qualify To Receive Deductible Contributions Types, Organizations That Qualify To Receive Deductible Contributions R Raffle or bingo, Contributions From Which You Benefit Recapture No exempt use, Recapture if no exempt use. Taxact 2007 Recapture of deduction of fractional interest in tangible personal property Additional tax, Recapture of deduction. Taxact 2007 Records to keep, Records To Keep Reminders Disaster relief, Reminders Reporting, How To Report Retirement home, Contributions From Which You Benefit S Services, value of, Value of Time or Services Split-dollar insurance arrangements, Contributions From Which You Benefit Student, Mutual exchange program. Taxact 2007 Exchange program, Mutual exchange program. Taxact 2007 Living with you, Student living with you. Taxact 2007 Student living with you, Expenses Paid for Student Living With You, Reporting expenses for student living with you. Taxact 2007 T Tangible personal property Future interest in, Future Interest in Tangible Personal Property Tax help, How To Get Tax Help Time, value of, Value of Time or Services Token items, Certain membership benefits can be disregarded. Taxact 2007 Travel expenses, Travel. Taxact 2007 Travel expenses for charitable services, Deductible travel expenses. Taxact 2007 Tuition, Contributions From Which You Benefit U Underprivileged youths, Underprivileged youths selected by charity. Taxact 2007 Uniforms, Uniforms. Taxact 2007 Unrelated use, Unrelated use. Taxact 2007 V Volunteers, Out-of-Pocket Expenses in Giving Services W Whaling captain, Expenses of Whaling Captains When to deduct, When To Deduct Prev Up Home More Online Publications