Instructions For Idaho Form 49e (Page 3 of 3) in pdf

EIN00031p3

10-17-11

Form 49E - Page 3

you had two income tax filing periods that ended during 2011,

Date placed in service

enter both ending dates.

Enter the date you placed the asset in service. Property is

placed in service in the earlier of :

If during calendar year 2011 or the previous two years you

had a short period tax year for income tax purposes, you

•

The income tax year in which, under your depreciation

must attach a statement that identifies the ending dates for

practice, the period for depreciation of the property

each income tax filing period during that twoyear period. For

begins, or

example, if during 2010 you changed from filing income tax

•

The income tax year in which you placed the property

returns on a calendar year basis to filing them on a June 30

in a condition or state of readiness and availability for a

year-end basis, attach a schedule identifying the tax year

specifically assigned function.

ending dates as December 31, 2009 and June 30, 2010.

If you did not use the asset in Idaho during the first year the

LIsTING OF pROpERTy ELECTED

property was placed in service, the asset does not qualify.

You must designate each specific asset and its location for

For example, if you purchased the asset in 2009 and used

which you are claiming the QIE. Group listings of assets will

the asset outside of Idaho until moving it to Idaho to use

not be accepted. If you cannot list all the elected assets on

during 2011, the asset will not qualify for the QIE.

page one, use page two or multiple pages two as necessary.

Qualifying Loss year

Asset Number

Enter the beginning and ending dates of the qualifying loss

Enter the asset’s assigned identification number.

year. This must be the second preceding income tax year

from the income tax year in which the property is placed in

Asset Description

service.

Enter a description of the asset. The description must be

in sufficient detail to identify what the property is and to

If you file your income tax returns on a calendar year basis,

determine if it qualifies. If the make, model, or serial number

and you did not have any short period tax years during the

is not available, include other identifying information that will

previous two years, enter January 1, 2009 to December 31,

describe the asset.

2009. If you did not have negative Idaho taxable income for

2009, you cannot make the election on property placed in

County in Which Asset Located

service during 2011.

Enter the county in which the asset is located. If the property

is used in more than one county, enter the home county in

If you file your income tax returns on a fiscal year basis,

which the asset is located.

or you had a short period income tax year, you may have

two different qualifying loss years. Identify the applicable

If you are claiming the QIE on used property, you must notify

qualifying loss year for each asset.

all counties in which you are claiming the QIE of the amount

of used property elected. You may do this in one of two

If you are a partnership or S corporation, your net business

ways:

income apportioned to Idaho plus the nonbusiness income or

loss allocated to Idaho for the second preceding income tax

•

Attach copies of all Forms 49E that list used property to

year must be negative.

the personal property declaration sent to each county, or

•

Complete a separate Form 49E that lists only used

New or used

property and send that to each county.

Indicate whether the asset is new or used. For the limitations

on used property, see Used Property on page 2.

If you are electing the QIE for property that is assessed as

nonregulated operating prop erty by the Tax Commission,

Original Cost

you must list on Form 49E every county where each asset is

Enter the asset’s original cost. This should be the same

located, regardless of whether the asset is new or used.

amount you would list as the purchase price on the Idaho

Personal Property Declaration. Include trade-in allowances

and all associated costs incurred to acquire and prepare the

item for its intended use.

Instructions For Idaho Form 49e Page 3

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