Publication 595
Tax Highlights for Commercial Fishermen

For use in preparing 2002 Returns

Table of Contents

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Publication 595, Tax Highlights for Commercial Fishermen

• Important Changes for 2002
• Important Reminder
• Important Dates for 2003
• What Is Gross Income From Fishing?
• Which Fishing Expenses Can You Deduct?
  • Depreciation
  • Travel and Transportation
• What Forms Must You File?
  • Schedule C (Form 1040)
  • Schedule SE (Form 1040)
  • Form 1099-MISC
  • Employment Tax Forms
• When Do Fishermen Pay Estimated Tax and File Tax Returns?
  • General Rule for Making Estimated Tax Payments
  • What Is Gross Income?
  • Percentage From Fishing
  • Due Dates for Qualified Fishermen
  • Due Dates for Nonqualified Fishermen
  • Estimated Tax Penalty for 2002
  • Other Filing Information for 2002
• What Is the Capital Construction Fund?
  • CCF Accounts
  • Types of Accounts You Must Maintain Within a CCF
  • Tax Treatment of CCF Deposits
  • Tax Treatment of CCF Earnings
  • Tax Treatment of CCF Withdrawals
    • Qualified Withdrawals
    • Nonqualified Withdrawals
  • More Information
• How Do You Claim Fuel Tax Credits and Refunds?
  • Nontaxable Uses
  • How To Claim a Credit or Refund
    • Claiming a Credit
    • Claiming a Refund
    • Including the Credit or Refund in Income
  • How To Buy Fuel Tax Free
• Schedule C Example
  • Schedule C (Form 1040)
    • Part I - Income
    • Part II - Expenses
• How To Get Tax Help

Index

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B

• Business or trade defined

C

• Capital construction fund
• Credits, Fuel tax
• Credits, Social security coverage

D

• Depreciation, Fishing boats
• Depreciation, Nets, pots, and traps
• Due dates, Nonqualified fishermen
• Due dates, Qualified fishermen

E

• Employment tax forms
• Expenses, fishing

F

• Fishing, Gross income
• Form, 1099-MISC
• Form, 2210-F
• Form, 4136
• Form, 4868
• Form, 8849
• Form, Schedule C-EZ
• Form, Schedule SE
• Forms to file

M

• Meals

N

• Not-for-profit fishing

P

• Partners, husband and wife
• Patronage dividends
• Penalty, Notice

R

• Repairs and replacements
• Return due date

S

• Self-employment, Certain fishermen
• Self-employment, Deduction for SE tax
• Self-employment, Defined
• Self-employment, Tax
• Social security coverage
• Suggestions

T

• Tax home
• Taxpayer Advocate
• Transportation, local
• Travel expenses
• TTY/TDD information