Home
|
Accessibility
|
Tax Stats
|
About IRS
|
Careers
|
FOIA
|
The Newsroom
|
Site Map
|
Español
|
Help
Search IRS Site for:
Advanced Search
Search Forms and
Publications for:
Tips for successful searching
Home
>
Publications
Individuals
Businesses
Charities & Non-Profits
Government Entities
Tax Professionals
Retirement Plans
Compliance & Enforcement
Contact My Local Office
e-file
Forms and Publications
Frequently Asked Questions
Taxpayer Advocate
Where To File
Publication 946 (2003), How To Depreciate Property
•Section 179 Deduction •Special Depreciation Allowance •MACRS •Listed Property
For use in preparing
2003
Returns
Table of Contents
Publication 946 - Introductory Material
Important Changes
Important Reminder
Introduction
1. Overview of Depreciation
Introduction
Useful Items - You may want to see:
What Property Can Be Depreciated?
Terms you may need to know (see Glossary):
Property You Own
Property Used in Your Business or Income-Producing Activity
Property Having a Determinable Useful Life
Property Lasting More Than One Year
Excepted Property
When Does Depreciation Begin and End?
Terms you may need to know (see Glossary):
Placed in Service
Idle Property
Cost or Other Basis Fully Recovered
Retired From Service
Can You Use MACRS To Depreciate Your Property?
Terms you may need to know (see Glossary):
Property You Placed in Service Before 1987
Property Owned or Used in 1986
Intangible Property
Films, Video Tapes, and Recordings
Corporate or Partnership Property Acquired in a Nontaxable Transfer
Election To Exclude Property From MACRS
What Is the Basis of Your Depreciable Property?
Terms you may need to know (see Glossary):
Cost as Basis
Other Basis
Property Changed From Personal Use
Adjusted Basis
How Do You Treat Improvements?
Terms you may need to know (see Glossary):
Do You Have To File Form 4562?
Terms you may need to know (see Glossary):
How Do You Correct Depreciation Deductions?
Terms you may need to know (see Glossary):
Filing an Amended Return
Changing Your Accounting Method
2. Electing the Section 179 Deduction
Introduction
Useful Items - You may want to see:
What Property Qualifies?
Terms you may need to know (see Glossary):
Eligible Property
Property Acquired for Business Use
Property Acquired by Purchase
Excepted Property
How Much Can You Deduct?
Terms you may need to know (see Glossary):
Dollar Limit
Business Income Limit
Partnerships and Partners
S Corporations
Other Corporations
How Do You Elect the Deduction?
Terms you may need to know (see Glossary):
When Must You Recapture the Deduction?
Terms you may need to know (see Glossary):
3. Claiming the Special Depreciation Allowance (or Liberty Zone Depreciation Allowance)
Introduction
Useful Items - You may want to see:
What Is Qualified Property?
Terms you may need to know (see Glossary):
Related persons.
Tests To Be Met For the 30% Allowance
Tests To Be Met For the 50% Allowance
Excepted Property
What Is Qualified Liberty Zone Property?
Terms you may need to know (see Glossary):
Tests To Be Met
Excepted Property
How Much Can You Deduct?
Terms you may need to know (see Glossary):
How Can You Elect Not To Claim an Allowance?
Terms you may need to know (see Glossary):
When Must You Recapture an Allowance?
Terms you may need to know (see Glossary):
4. Figuring Depreciation Under MACRS
Introduction
Useful Items - You may want to see:
Which Depreciation System (GDS or ADS) Applies?
Terms you may need to know (see Glossary):
Which Property Class Applies Under GDS?
Terms you may need to know (see Glossary):
Rent-to-own dealer.
Rent-to-own contract.
What Is the Placed-in-Service Date?
Terms you may need to know (see Glossary):
What Is the Basis for Depreciation?
Terms you may need to know (see Glossary):
Which Recovery Period Applies?
Terms you may need to know (see Glossary):
Recovery Periods Under GDS
Recovery Periods Under ADS
Additions and Improvements
Which Convention Applies?
Terms you may need to know (see Glossary):
Which Depreciation Method Applies?
Terms you may need to know (see Glossary):
Depreciation Methods for Farm Property
Electing a Different Method
How Is the Depreciation Deduction Figured?
Terms you may need to know (see Glossary):
Using the MACRS Percentage Tables
Figuring the Deduction Without Using the Tables
Figuring the Deduction for Carried-Over-Basis Property
Figuring the Deduction for a Short Tax Year
How Do You Use General Asset Accounts?
Terms you may need to know (see Glossary):
Grouping Property
Figuring Depreciation for a GAA
Disposing of GAA Property
Terminating GAA Treatment
Electing To Use a GAA
When Do You Recapture MACRS Depreciation?
Terms you may need to know (see Glossary):
5. Additional Rules for Listed Property
Introduction
Useful Items - You may want to see:
What Is Listed Property?
Terms you may need to know (see Glossary):
Passenger Automobiles
Other Property Used for Transportation
Computers and Related Peripheral Equipment
Can Employees Claim a Deduction?
What Is the Business-Use Requirement?
Terms you may need to know (see Glossary):
How To Allocate Use
Qualified Business Use
Recapture of Excess Depreciation
Lessee's Inclusion Amount
Do the Passenger Automobile Limits Apply?
Terms you may need to know (see Glossary):
Maximum Depreciation Deduction
Deductions After the Recovery Period
Deductions For Passenger Automobiles Acquired in a Trade-in
What Records Must Be Kept?
Terms you may need to know (see Glossary):
Adequate Records
How Long To Keep Records
How Is Listed Property Information Reported?
Terms you may need to know (see Glossary):
6. Comprehensive Example
Introduction
Depreciation Worksheet
Form 4562
7. How To Get Tax Help
Publication 946 - Additional Material
Appendix B — Table of Class Lives and Recovery Periods
How To Use the Tables
Glossary
Index
Contact Us
|
IRS Privacy Policy