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Publication 946 2008 Tax Year

Publication 946 - Additional Material


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Appendix A

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Table A-5 and A-6

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Table A-7

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Table A-8

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Table A-8 (continued)

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Table A-9

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Table A-9 (continued)

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Table A-10

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Table A–10 (continued)

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Table A-11

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Table A-11 (continued)

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Table A-12

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Table A-12 (continued)

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Table A-13, A-14 and A-14 (continued.1)

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Table A-14 (continued.2)

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Table A-15

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Table A-15 (continued)

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Table A-16

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Table A-16 (continued)

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Table A-17

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Table A-17 (continued)

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Table A-18

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Table A-18 (continued)

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Table A-19 and Table A-20

Appendix B — Table of Class Lives and Recovery Periods

The Table of Class Lives and Recovery Periods has two sections. The first section, Specific Depreciable Assets Used In All Business Activities, Except As Noted, generally lists assets used in all business activities. It is shown as Table B-1. The second section, Depreciable Assets Used In The Following Activities, describes assets used only in certain activities. It is shown as Table B-2.

How To Use the Tables

You will need to look at both Table B-1 and B-2 to find the correct recovery period. Generally, if the property is listed in Table B-1 you use the recovery period shown in that table. However, if the property is specifically listed in Table B-2 under the type of activity in which it is used, you use the recovery period listed under the activity in that table. Use the tables in the order shown below to determine the recovery period of your depreciable property.

Table B-1.   Check Table B-1 for a description of the property. If it is described in Table B-1, also check Table B-2 to find the activity in which the property is being used. If the activity is described in Table B-2, read the text (if any) under the title to determine if the property is specifically included in that asset class. If it is, use the recovery period shown in the appropriate column of Table B-2 following the description of the activity. If the activity is not described in Table B-2 or if the activity is described but the property either is not specifically included in or is specifically excluded from that asset class, then use the recovery period shown in the appropriate column following the description of the property in Table B-1.

Tax-exempt use property subject to a lease.   The recovery period for ADS cannot be less than 125 percent of the lease term for any property leased under a leasing arrangement to a tax-exempt organization, governmental unit, or foreign person or entity (other than a partnership).

Table B-2.   If the property is not listed in Table B-1, check Table B-2 to find the activity in which the property is being used and use the recovery period shown in the appropriate column following the description.

Property not in either table.   If the activity or the property is not included in either table, check the end of Table B-2 to find Certain Property for Which Recovery Periods Assigned. This property generally has a recovery period of 7 years for GDS or 12 years for ADS. See Which Property Class Applies Under GDS and Which Recovery Period Applies in chapter 4 for the class lives or the recovery periods for GDS and ADS for the following.
  • Residential rental property and nonresidential real property (also see Appendix A, Chart 2).

  • Qualified rent-to-own property.

  • A motorsport entertainment complex.

  • Any retail motor fuels outlet.

  • Any qualified leasehold improvement property placed in service before January 1, 2008.

  • Any qualified restaurant property placed in service before January 1, 2008.

  • Initial clearing and grading land improvements for gas utility property and electric utility transmission and distribution plants.

  • Any water utility property.

  • Certain electric transmission property used in the transmission at 69 or more kilovolts of electricity for sale and placed in service after April 11, 2005.

  • Natural gas gathering and distribution lines placed in service after April 11, 2005.

Example 1.

Richard Green is a paper manufacturer. During the year, he made substantial improvements to the land on which his paper plant is located. He checks Table B-1 and finds land improvements under asset class 00.3. He then checks Table B-2 and finds his activity, paper manufacturing, under asset class 26.1, Manufacture of Pulp and Paper. He uses the recovery period under this asset class because it specifically includes land improvements. The land improvements have a 13-year class life and a 7-year recovery period for GDS. If he elects to use ADS, the recovery period is 13 years. If Richard only looked at Table B-1, he would select asset class 00.3, Land Improvements, and incorrectly use a recovery period of 15 years for GDS or 20 years for ADS.

Example 2.

Sam Plower produces rubber products. During the year, he made substantial improvements to the land on which his rubber plant is located. He checks Table B-1 and finds land improvements under asset class 00.3. He then checks Table B-2 and finds his activity, producing rubber products, under asset class 30.1, Manufacture of Rubber Products. Reading the headings and descriptions under asset class 30.1, Sam finds that it does not include land improvements. Therefore, Sam uses the recovery period under asset class 00.3. The land improvements have a 20-year class life and a 15-year recovery period for GDS. If he elects to use ADS, the recovery period is 20 years.

Example 3.

Pam Martin owns a retail clothing store. During the year, she purchased a desk and a cash register for use in her business. She checks Table B-1 and finds office furniture under asset class 00.11. Cash registers are not listed in any of the asset classes in Table B-1. She then checks Table B-2 and finds her activity, retail store, under asset class 57.0, Distributive Trades and Services, which includes assets used in wholesale and retail trade. This asset class does not specifically list office furniture or a cash register. She looks back at Table B-1 and uses asset class 00.11 for the desk. The desk has a 10-year class life and a 7-year recovery period for GDS. If she elects to use ADS, the recovery period is 10 years. For the cash register, she uses asset class 57.0 because cash registers are not listed in Table B-1 but it is an asset used in her retail business. The cash register has a 9-year class life and a 5-year recovery period for GDS. If she elects to use the ADS method, the recovery period is 9 years.

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Table B-1

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Table B-2

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Table B-2

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Table B-2

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Table B-2

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Table B-2

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Table B-2

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Table B-2

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Table B-2

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Table B-2

General Guides
1 Your Rights as a Taxpayer
17 Your Federal Income Tax (For Individuals)
334 Tax Guide for Small Business (For Individuals Who Use Schedule C or C-EZ)
509 Tax Calendars for 2007
553 Highlights of 2006 Tax Changes
910 IRS Guide to Free Tax Services
Employer's Guides
15 (Circular E), Employer's Tax Guide
15-A Employer's Supplemental Tax Guide
15-B Employer's Tax Guide to Fringe Benefits
51 (Circular A), Agricultural Employer's Tax Guide
80 (Circular SS), Federal Tax Guide For Employers in the U.S. Virgin Islands, Guam, American Samoa, and the Commonwealth of the Northern Mariana Islands
926 Household Employer's Tax Guide
Specialized Publications
225 Farmer's Tax Guide
463 Travel, Entertainment, Gift, and Car Expenses
505 Tax Withholding and Estimated Tax
510 Excise Taxes for 2007
515 Withholding of Tax on Nonresident Aliens and Foreign Entities
517 Social Security and Other Information for Members of the Clergy and Religious Workers
527 Residential Rental Property (Including Rental of Vacation Homes)
534 Depreciating Property Placed in Service Before 1987
535 Business Expenses
536 Net Operating Losses (NOLs) for Individuals, Estates, and Trusts
537 Installment Sales
538 Accounting Periods and Methods
541 Partnerships
542 Corporations
544 Sales and Other Dispositions of Assets
551 Basis of Assets
556 Examination of Returns, Appeal Rights, and Claims for Refund
560 Retirement Plans for Small Business (SEP, SIMPLE, and Qualified Plans)
561 Determining the Value of Donated Property
583 Starting a Business and Keeping Records
587 Business Use of Your Home (Including Use by Daycare Providers)
594 What You Should Know About The IRS Collection Process
595 Capital Construction Fund for Commercial Fishermen
597 Information on the United States-Canada Income Tax Treaty
598 Tax on Unrelated Business Income of Exempt Organizations
686 Certification for Reduced Tax Rates in Tax Treaty Countries
901 U.S. Tax Treaties
908 Bankruptcy Tax Guide
925 Passive Activity and At-Risk Rules
946 How To Depreciate Property
947 Practice Before the IRS and Power of Attorney
954 Tax Incentives for Distressed Communities
1544 Reporting Cash Payments of Over $10,000 (Received in a Trade or Business)
1546 The Taxpayer Advocate Service of the IRS
Spanish Language Publications
1SP Derechos del Contribuyente
179 (Circular PR) Guía Contributiva Federal Para Patronos Puertorriqueños
579SP Cómo Preparar la Declaración de Impuesto Federal
594SP Qué es lo Debemos Saber sobre El Proceso de Cobro del IRS
850 English-Spanish Glossary of Words and Phrases Used in Publications Issued by the Internal Revenue Service
1544SP Informe de Pagos en Efectivo en Exceso de $10,000 (Recibidos en una Ocupación o Negocio)

Form Number and Form Title
W-2 Wage and Tax Statement
W-4 Employee's Withholding Allowance Certificate
940 Employer's Annual Federal Unemployment (FUTA) Tax Return
941 Employer's QUARTERLY Federal Tax Return
944 Employer's ANNUAL Federal Tax Return
1040 U.S. Individual Income Tax Return
Sch. A & B Itemized Deductions & Interest and Ordinary Dividends
Sch. C Profit or Loss From Business
Sch. C-EZ Net Profit From Business
Sch. D Capital Gains and Losses
Sch. D-1 Continuation Sheet for Schedule D
Sch. E Supplemental Income and Loss
Sch. F Profit or Loss From Farming
Sch. H Household Employment Taxes
Sch. J Income Averaging for Farmers and Fishermen
Sch. R Credit for the Elderly or the Disabled
Sch. SE Self-Employment Tax
1040-ES Estimated Tax for Individuals
1040X Amended U.S. Individual Income Tax Return
1065 U.S. Return of Partnership Income
Sch. D Capital Gains and Losses
Sch. K-1 Partner's Share of Income, Deductions, Credits, etc.
1120 U.S. Corporation Income Tax Return
1120-A U.S. Corporation Short-Form Income Tax Return
1120S U.S. Income Tax Return for an S Corporation
Sch. D Capital Gains and Losses and Built-In Gains
Sch. K-1 Shareholder's Share of Income, Deductions, Credits, etc.
2106 Employee Business Expenses
2106-EZ Unreimbursed Employee Business Expenses
2210 Underpayment of Estimated Tax by Individuals, Estates, and Trusts
2441 Child and Dependent Care Expenses
2848 Power of Attorney and Declaration of Representative
3800 General Business Credit
3903 Moving Expenses
4562 Depreciation and Amortization
4797 Sales of Business Property
4868 Application for Automatic Extension of Time To File U.S. Individual Income Tax Return
5329 Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts
6252 Installment Sale Income
7004 Application for Automatic 6-Month Extension of Time To File Certain Business Income Tax, Information, and Other Returns
8283 Noncash Charitable Contributions
8300 Report of Cash Payments Over $10,000 Received in a Trade or Business
8582 Passive Activity Loss Limitations
8606 Nondeductible IRAs
8822 Change of Address
8829 Expenses for Business Use of Your Home

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