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1040ez Form For 2012

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1040ez Form For 2012

1040ez form for 2012 Publication 557 - Introductory Material Table of Contents What's New Reminders Introduction What's New Proposed regulations on “good faith determinations”. 1040ez form for 2012  Proposed regulations modify standards for making a good faith determination that a foreign organization is a charitable organization, grants to which may be qualifying distributions and not taxable expenditures. 1040ez form for 2012 The proposed regulations identify a broader class of tax practitioners upon whose written advice a private foundation may base a “good faith determination. 1040ez form for 2012 ” See, Proposed Regulations: Reliance Standards for Making Good Faith Determinations, REG-134974-12, 2012-47 I. 1040ez form for 2012 R. 1040ez form for 2012 B. 1040ez form for 2012 553. 1040ez form for 2012 Prop. 1040ez form for 2012 Regs. 1040ez form for 2012 on Good Faith Determinations. 1040ez form for 2012 New Requirements for section 501(c)(3) Hospitals Under the Affordable Care Act. 1040ez form for 2012  The Affordable Care Act (ACA), enacted March 23, 2010, added new requirements that hospital organizations must satisfy in order to be described in section 501(c)(3), as well as new reporting requirements and excise taxes. 1040ez form for 2012 On June 22, 2012, the Service issued a notice of proposed rulemaking that addresses the new requirements enacted by the ACA applicable to section 501(c)(3) hospital organizations. 1040ez form for 2012 See, Proposed Regulations: Additional Requirements for Charitable Hospitals, REG-13026-11, 77 Fed. 1040ez form for 2012 Reg. 1040ez form for 2012 38148. 1040ez form for 2012 On April 3, 2013, the Service issued proposed regulations on the ACA's community health needs assessment (CHNA) requirements. 1040ez form for 2012 The proposed regulations also discuss the related reporting and excise tax requirements for charitable hospitals and the consequences for failure to satisfy the section 501(r) requirements. 1040ez form for 2012 See, Proposed Regulations: Community Health Needs Assessments for Charitable Hospitals, REG-106499-12, 78 Fed. 1040ez form for 2012 Reg. 1040ez form for 2012 20,523. 1040ez form for 2012 Timing of when an Organization is exempt for Federal Tax Purposes. 1040ez form for 2012  As noted in section 2. 1040ez form for 2012 03(4) of Revenue Procedure 2013-9, 2013-2 I. 1040ez form for 2012 R. 1040ez form for 2012 B. 1040ez form for 2012 267, the provisions in section 11. 1040ez form for 2012 01 regarding the effect of determination letters or rulings recognizing exempt status of organizations described in section 501(c), other than sections 501(c)(3), (9), (17), and (29), have been revised. 1040ez form for 2012 Prior to this year, and back to 1962, when such organizations applied for recognition, the IRS would usually recognize the organizations as tax exempt from the date of formation, no matter how long the interval between the date of formation and the date of application. 1040ez form for 2012 In addition to the practical difficulties of ascertaining an organization's purposes and activities for this period, such recognition is now potentially inconsistent with the provisions of section 6033(j), which automatically revokes the exempt status of an organization that fails to file required Form 990 series returns or notices for three consecutive years. 1040ez form for 2012 The new procedure adopts a practice similar to the rule for section 501(c)(3) organizations for these organizations, generally permitting recognition from the date of formation if the organization has: always met the requirements for exemption, has applied within 27 months from the end of the month in which it was organized, and has not failed to file required Form 990 series returns or notices for three consecutive years. 1040ez form for 2012 Section 11. 1040ez form for 2012 01(3) notes: an organization that otherwise meets the requirements for tax-exempt status and the issuance of a determination letter or ruling that does not meet the requirements for recognition from date of formation will generally be recognized from the postmark date of its application. 1040ez form for 2012 Exempt Organizations Select Check. 1040ez form for 2012  The IRS has developed an on-line search tool, Exempt Organizations Select Check, that allows users to select an exempt organization and check certain information about its federal tax status and filings. 1040ez form for 2012 It consolidates three former search sites into one, providing expanded search capability and a more efficient way to search for organizations that: Are eligible to receive tax-deductible charitable contributions (Publication 78 data). 1040ez form for 2012 Users may rely on this list in determining deductibility of contributions, just as they did when Publication 78 was a separate electronic publication rather than part of Select Check. 1040ez form for 2012 Have had their tax-exempt status automatically revoked under the law because they have not filed Form 990 series returns or notices annually as required for three consecutive years (Auto-Revocation List). 1040ez form for 2012 Have filed a Form 990-N (e-Postcard) annual electronic notice. 1040ez form for 2012  In addition to searching for a particular organization, users may download a complete list of each of the three types of organizations through Exempt Organizations Select Check. 1040ez form for 2012 See also Revenue Procedure 2011-33, 2011-25 I. 1040ez form for 2012 R. 1040ez form for 2012 B. 1040ez form for 2012 887. 1040ez form for 2012 Future developments. 1040ez form for 2012 . 1040ez form for 2012  The IRS has created a page on IRS. 1040ez form for 2012 gov for information about Publication 557, at www. 1040ez form for 2012 irs. 1040ez form for 2012 gov/pub557. 1040ez form for 2012 Information about any future developments affecting Publication 557 (such as legislation enacted after we release it) will be posted on that page. 1040ez form for 2012 Reminders The Patient Protection and Affordable Care Act (ACA). 1040ez form for 2012   The ACA added several new laws. 1040ez form for 2012 This includes a new excise tax on indoor tanning services, a small business health care tax credit, additional requirements for tax-exempt hospitals, and the section 501(c)(29) CO-OP program. 1040ez form for 2012 For more information, go to IRS. 1040ez form for 2012 gov and select Affordable Care Act Tax Provisions. 1040ez form for 2012 Electronic filing requirement for large organizations. 1040ez form for 2012  For tax years ending on or after December 31, 2006, only organizations that file 250 returns during the calendar year and that have total assets of $10 million or more are required to file Form 990 electronically. 1040ez form for 2012 For more information, go to e-file for Charities and Non-Profits. 1040ez form for 2012 Section 501(c)(15) gross receipts. 1040ez form for 2012   The definition of gross receipts for purposes of determining whether small insurance companies qualify as tax-exempt under section 501(c)(15) has changed. 1040ez form for 2012 See Notice 2006-42, 2006-19 I. 1040ez form for 2012 R. 1040ez form for 2012 B. 1040ez form for 2012 878, Notice 2006-42. 1040ez form for 2012 Prohibited tax shelter transactions. 1040ez form for 2012  New excise taxes are imposed under section 4965 on certain tax-exempt organizations entering into prohibited tax shelter transactions. 1040ez form for 2012 See T. 1040ez form for 2012 D. 1040ez form for 2012 9492, Excise Taxes on Prohibited Tax Shelter Transactions and Related Disclosure Requirements, 2010-33 I. 1040ez form for 2012 R. 1040ez form for 2012 B. 1040ez form for 2012 242. 1040ez form for 2012 See IRS Issues Final Regulations Regarding Excise Taxes on Prohibited Tax Shelter Transactions and Related Disclosure Requirement. 1040ez form for 2012 Pension Protection Act of 2006 tax changes. 1040ez form for 2012  The Pension Protection Act of 2006 made numerous changes to the tax law provisions affecting tax-exempt organizations. 1040ez form for 2012 Unless otherwise noted, most of the changes became effective on August 17, 2006. 1040ez form for 2012 For key provisions, go to The Pension Protection Act of 2006. 1040ez form for 2012 Section 501(c)(3) organizations must make their Form 990-T, Exempt Organization Business Tax Return (and proxy tax under section 6033(e)), open for public inspection for a period of 3 years from the date the Form 990-T is required to be filed (determined with regard to any extension of time for filing) or is actually filed, whichever is later. 1040ez form for 2012 There is an increase in excise taxes relating to public charities, social welfare organizations, and private foundations. 1040ez form for 2012 There are additional standards for credit counseling organizations. 1040ez form for 2012 The definition of convention or association of churches has been modified. 1040ez form for 2012 Entities that are not required to file Form 990 or 990-EZ must file new Form 990-N, Electronic Notice (e-Postcard) for Tax-Exempt Organizations Not Required to File Form 990 or 990-EZ. 1040ez form for 2012 The requirements of disclosure to state officials relating to exempt organizations has been modified. 1040ez form for 2012 There are excise taxes imposed on excess benefit transactions involving donor advised funds and sponsoring organizations. 1040ez form for 2012 There are new excise taxes on prohibited tax shelter transactions. 1040ez form for 2012 There is a modification of recordkeeping requirements for certain charitable contributions. 1040ez form for 2012 Introduction This publication discusses the rules and procedures for organizations that seek recognition of exemption from federal income tax under section 501(a) of the Internal Revenue Code (the Code). 1040ez form for 2012 It explains the procedures you must follow to obtain an appropriate ruling or determination letter recognizing your organization's exemption, as well as certain other information that applies generally to all exempt organizations. 1040ez form for 2012 To qualify for exemption under the Code, your organization must be organized for one or more of the purposes specifically designated in the Code. 1040ez form for 2012 Organizations that are exempt under section 501(a) include those organizations described in section 501(c). 1040ez form for 2012 Section 501(c) organizations are covered in this publication. 1040ez form for 2012 Chapter 1, Application, Approval, and Appeal Procedures, provides general information about the procedures for obtaining recognition of tax-exempt status. 1040ez form for 2012 Chapter 2, Filing Requirements and Required Disclosures, contains information about annual filing requirements and other matters that may affect your organization's tax-exempt status. 1040ez form for 2012 Chapter 3, Section 501(c)(3) Organizations, contains detailed information on various matters affecting section 501(c)(3) organizations, including a section on the determination of private foundation status. 1040ez form for 2012 Chapter 4, Other Section 501(c) Organizations, includes separate sections for specific types of organizations described in section 501(c). 1040ez form for 2012 Chapter 5, Excise Taxes, provides information on when excise taxes may be imposed. 1040ez form for 2012 Organizations not discussed in this publication. 1040ez form for 2012   Certain organizations that may qualify for exemption are not discussed in this publication, although they are included in the Organization Reference Chart. 1040ez form for 2012 These organizations (and the Code sections that apply to them) are as follows. 1040ez form for 2012 Corporations organized under Acts of Congress 501(c)(1) Teachers' retirement fund associations 501(c)(11) Mutual insurance companies 501(c)(15) Corporations organized to finance crop operations 501(c)(16) Employee funded pension trusts (created before June 25, 1959) 501(c)(18) Withdrawal liability payment fund 501(c)(22) Veterans' organizations (created before 1880) 501(c)(23) National Railroad Retirement Investment Trust 501(c)(28) Religious and apostolic associations 501(d) Cooperative hospital service organizations 501(e) Cooperative service organizations of operating educational organizations 501(f)   Section 501(c)(24) organizations (section 4049 ERISA trusts) are neither discussed in the text nor listed in the Organization Reference Chart. 1040ez form for 2012   Similarly, farmers' cooperative associations that qualify for exemption under section 521, qualified state tuition programs described in section 529, and pension, profit-sharing, and stock bonus plans described in section 401(a) are not discussed in this publication. 1040ez form for 2012 If you think your organization falls within one of these categories, contact the IRS for any additional information you need. 1040ez form for 2012 For telephone assistance, call 1-877-829-5500. 1040ez form for 2012   Check the Table of Contents at the beginning of this publication to determine whether your organization is described in this publication. 1040ez form for 2012 If it is, read the chapter (or section) that applies to your type of organization for the specific information you must give when applying for recognition of exemption. 1040ez form for 2012 Organization Reference Chart. 1040ez form for 2012   The Organization Reference Chart enables you to locate at a glance the section of the Code under which your organization might qualify for exemption. 1040ez form for 2012 It also shows the required application form and, if your organization meets the exemption requirements, the annual return to be filed (if any), and whether or not a contribution to your organization will be deductible by a donor. 1040ez form for 2012 It also describes each type of qualifying organization and the general nature of its activities. 1040ez form for 2012   You may use the Organization Reference Chart to determine the Code section that you think applies to your organization. 1040ez form for 2012 Any correspondence with the IRS (in requesting forms or otherwise) will be expedited if you indicate in your correspondence the appropriate Code section. 1040ez form for 2012 Check the IRS website, IRS. 1040ez form for 2012 gov, for the latest updates, Tax Information for Charities & Other Non-Profits, www. 1040ez form for 2012 irs. 1040ez form for 2012 gov/charities/index. 1040ez form for 2012 html. 1040ez form for 2012 Comments and suggestions. 1040ez form for 2012   We welcome your comments about this publication and your suggestions for future editions. 1040ez form for 2012   You can e-mail us while visiting our website at IRS. 1040ez form for 2012 gov. 1040ez form for 2012   You can send your comments to us at the following address: Internal Revenue Service Tax Forms and Publications Division 1111 Constitution Ave. 1040ez form for 2012 NW, IR-6526 Washington, DC 20224   We respond to many letters by telephone. 1040ez form for 2012 Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your correspondence. 1040ez form for 2012   If you wish telephone assistance, please call 1-877-829-5500. 1040ez form for 2012 This toll-free telephone service is available Monday through Friday. 1040ez form for 2012 Prev  Up  Next   Home   More Online Publications
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Tax Relief for Victims of Tropical Storm Irene in New Hampshire

E-file to Remain Open through Oct. 31 for Victims of Tropical Storm Irene

NH-2011-31, Sept. 8, 2011

BOSTON — Victims of Tropical Storm Irene that began on Aug. 27, 2011 in parts of New Hampshire may qualify for tax relief from the Internal Revenue Service.

The President has declared the following counties a federal disaster area: Carroll and Grafton. Individuals who reside or have a business in these counties may qualify for tax relief.

The declaration permits the IRS to postpone certain deadlines for taxpayers who reside or have a business in the disaster area. For instance, certain deadlines falling on or after Aug. 27, and on or before Oct. 31, have been postponed to Oct. 31, 2011. This includes corporations and other businesses that previously obtained an extension until Sept. 15 to file their 2010 returns, and individuals and businesses that received a similar extension until Oct. 17. It also includes the estimated tax payment for the third quarter, normally due Sept. 15.

In addition, the IRS is waiving the failure-to-deposit penalties for employment and excise tax deposits due on or after Aug. 27, and on or before Sept. 12, as long as the deposits are made by Sept. 12, 2011.

If an affected taxpayer receives a penalty notice from the IRS, the taxpayer should call the telephone number on the notice to have the IRS abate any interest and any late filing or late payment penalties that would otherwise apply. Penalties or interest will be abated only for taxpayers who have an original or extended filing, payment or deposit due date, including an extended filing or payment due date, that falls within the postponement period.

The IRS automatically identifies taxpayers located in the covered disaster area and applies automatic filing and payment relief. But affected taxpayers who reside or have a business located outside the covered disaster area must call the IRS disaster hotline at 1-866-562-5227 to request this tax relief.

Covered Disaster Area

The counties listed above constitute a covered disaster area for purposes of Treas. Reg. § 301.7508A-1(d)(2) and are entitled to the relief detailed below.

Affected Taxpayers

Taxpayers considered to be affected taxpayers eligible for the postponement of time to file returns, pay taxes and perform other time-sensitive acts are those taxpayers listed in Treas. Reg. § 301.7508A-1(d)(1), and include individuals who live, and businesses whose principal place of business is located, in the covered disaster area. Taxpayers not in the covered disaster area, but whose records necessary to meet a deadline listed in Treas. Reg. § 301.7508A-1(c) are in the covered disaster area, are also entitled to relief. In addition, all relief workers affiliated with a recognized government or philanthropic organization assisting in the relief activities in the covered disaster area and any individual visiting the covered disaster area who was killed or injured as a result of the disaster are entitled to relief.

Grant of Relief

Under section 7508A, the IRS gives affected taxpayers until Oct. 31 to file most tax returns (including individual, corporate, and estate and trust income tax returns; partnership returns, S corporation returns, and trust returns; estate, gift, and generation-skipping transfer tax returns; and employment and certain excise tax returns), or to make tax payments, including estimated tax payments, that have either an original or extended due date occurring on or after Aug. 27 and on or before Oct. 31.

The IRS also gives affected taxpayers until Oct. 31 to perform other time-sensitive actions described in Treas. Reg. § 301.7508A-1(c)(1) and Rev. Proc. 2007-56, 2007-34 I.R.B. 388 (Aug. 20, 2007), that are due to be performed on or after Aug. 27 and on or before Oct. 31.

This relief also includes the filing of Form 5500 series returns, in the manner described in section 8 of Rev. Proc. 2007-56. The relief described in section 17 of Rev. Proc. 2007-56, pertaining to like-kind exchanges of property, also applies to certain taxpayers who are not otherwise affected taxpayers and may include acts required to be performed before or after the period above.

The postponement of time to file and pay does not apply to information returns in the W-2, 1098, 1099 series, or to Forms 1042-S or 8027. Penalties for failure to timely file information returns can be waived under existing procedures for reasonable cause. Likewise, the postponement does not apply to employment and excise tax deposits. The IRS, however, will abate penalties for failure to make timely employment and excise tax deposits due on or after Aug. 27 and on or before Sept. 12 provided the taxpayer makes these deposits by Sept. 12.

Casualty Losses

Affected taxpayers in a federally declared disaster area have the option of claiming disaster-related casualty losses on their federal income tax return for either this year or last year. Claiming the loss on an original or amended return for last year will get the taxpayer an earlier refund, but waiting to claim the loss on this year’s return could result in a greater tax saving, depending on other income factors.

Individuals may deduct personal property losses that are not covered by insurance or other reimbursements. For details, see Form 4684 and its instructions.

Affected taxpayers claiming the disaster loss on last year’s return should put the Disaster Designation “New Hampshire/Tropical Storm Irene” at the top of the form so that the IRS can expedite the processing of the refund.

Other Relief

The IRS will waive the usual fees and expedite requests for copies of previously filed tax returns for affected taxpayers. Taxpayers should put the assigned Disaster Designation in red ink at the top of Form 4506, Request for Copy of Tax Return, or Form 4506-T, Request for Transcript of Tax Return, as appropriate, and submit it to the IRS.

Affected taxpayers who are contacted by the IRS on a collection or examination matter should explain how the disaster impacts them so that the IRS can provide appropriate consideration to their case.

Taxpayers may download forms and publications from the official IRS website, irs.gov, or order them by calling 1-800-TAX-FORM (1-800-829-3676). The IRS toll-free number for general tax questions is 1-800-829-1040.

Related Information

Page Last Reviewed or Updated: 20-Mar-2014

The 1040ez Form For 2012

1040ez form for 2012 16. 1040ez form for 2012   Reporting Gains and Losses Table of Contents What's New Introduction Useful Items - You may want to see: Reporting Capital Gains and Losses Exception 1. 1040ez form for 2012 Exception 2. 1040ez form for 2012 File Form 1099-B or Form 1099-S with the IRS. 1040ez form for 2012 Capital Losses Capital Gain Tax Rates What's New Maximum capital gain rates. 1040ez form for 2012 . 1040ez form for 2012  For 2013, the maximum capital gain rates are 0%, 15%, 20%, 25%, and 28%. 1040ez form for 2012 Introduction This chapter discusses how to report capital gains and losses from sales, exchanges, and other dispositions of investment property on Form 8949 and Schedule D (Form 1040). 1040ez form for 2012 The discussion includes the following topics. 1040ez form for 2012 How to report short-term gains and losses. 1040ez form for 2012 How to report long-term gains and losses. 1040ez form for 2012 How to figure capital loss carryovers. 1040ez form for 2012 How to figure your tax on a net capital gain. 1040ez form for 2012 If you sell or otherwise dispose of property used in a trade or business or for the production of income, see Publication 544, Sales and Other Dispositions of Assets, before completing Schedule D (Form 1040). 1040ez form for 2012 Useful Items - You may want to see: Publication 537 Installment Sales 544 Sales and Other Dispositions of Assets 550 Investment Income and Expenses Form (and Instructions) 4797 Sales of Business Property 6252 Installment Sale Income 8582 Passive Activity Loss Limitations 8949 Sales and Other Dispositions of Capital Assets Schedule D (Form 1040) Capital Gains and Losses Reporting Capital Gains and Losses Generally, report capital gains and losses on Form 8949. 1040ez form for 2012 Complete Form 8949 before you complete line 1b, 2, 3, 8b, 9, or 10 of Schedule D (Form 1040). 1040ez form for 2012 Use Form 8949 to report: The sale or exchange of a capital asset not reported on another form or schedule; Gains from involuntary conversions (other than from casualty or theft) of capital assets not held for business or profit; and Nonbusiness bad debts. 1040ez form for 2012 Use Schedule D (Form 1040): To figure the overall gain or loss from transactions reported on Form 8949; To report a gain from Form 6252 or Part I of Form 4797; To report a gain or loss from Form 4684, 6781, or 8824; To report capital gain distributions not reported directly on Form 1040 or Form 1040A; To report a capital loss carryover from the previous tax year to the current tax year; To report your share of a gain or (loss) from a partnership, S corporation, estate, or trust; To report transactions reported to you on a Form 1099-B (or substitute statement) showing basis was reported to the IRS and to which none of the Form 8949 adjustments or codes apply; and To report undistributed long-term capital gains from Form 2439. 1040ez form for 2012 On Form 8949, enter all sales and exchanges of capital assets, including stocks, bonds, etc. 1040ez form for 2012 , and real estate (if not reported on Form 4684, 4797, 6252, 6781, 8824, or line 1a or 8a of Schedule D). 1040ez form for 2012 Include these transactions even if you did not receive a Form 1099-B or 1099-S (or substitute statement) for the transaction. 1040ez form for 2012 Report short-term gains or losses in Part I. 1040ez form for 2012 Report long-term gains or losses in Part II. 1040ez form for 2012 Use as many Forms 8949 as you need. 1040ez form for 2012 Exceptions to filing Form 8949 and Schedule D (Form 1040). 1040ez form for 2012   There are certain situations where you may not have to file Form 8949 and/or Schedule D (Form 1040). 1040ez form for 2012 Exception 1. 1040ez form for 2012   You do not have to file Form 8949 or Schedule D (Form 1040) if you have no capital losses and your only capital gains are capital gain distributions from Form(s) 1099-DIV, box 2a (or substitute statements). 1040ez form for 2012 (If any Form(s) 1099-DIV (or substitute statements) you receive have an amount in box 2b (unrecaptured section 1250 gain), box 2c (section 1202 gain), or box 2d (collectibles (28%) gain), you do not qualify for this exception. 1040ez form for 2012 ) If you qualify for this exception, report your capital gain distributions directly on line 13 of Form 1040 (and check the box on line 13). 1040ez form for 2012 Also use the Qualified Dividends and Capital Gain Tax Worksheet in the Form 1040 instructions to figure your tax. 1040ez form for 2012 You can report your capital gain distributions on line 10 of Form 1040A, instead of on Form 1040, if none of the Forms 1099-DIV (or substitute statements) you received have an amount in box 2b, 2c, or 2d, and you do not have to file Form 1040. 1040ez form for 2012 Exception 2. 1040ez form for 2012   You must file Schedule D (Form 1040), but generally do not have to file Form 8949, if Exception 1 does not apply and your only capital gains and losses are: Capital gain distributions; A capital loss carryover; A gain from Form 2439 or 6252 or Part I of Form 4797; A gain or loss from Form 4684, 6781, or 8824; A gain or loss from a partnership, S corporation, estate, or trust; or Gains and losses from transactions for which you received a Form 1099-B (or substitute statement) that shows the basis was reported to the IRS and for which you do not need to make any adjustments in column (g) of Form 8949 or enter any codes in column (f) of Form 8949. 1040ez form for 2012 Installment sales. 1040ez form for 2012   You cannot use the installment method to report a gain from the sale of stock or securities traded on an established securities market. 1040ez form for 2012 You must report the entire gain in the year of sale (the year in which the trade date occurs). 1040ez form for 2012 Passive activity gains and losses. 1040ez form for 2012    If you have gains or losses from a passive activity, you may also have to report them on Form 8582. 1040ez form for 2012 In some cases, the loss may be limited under the passive activity rules. 1040ez form for 2012 Refer to Form 8582 and its instructions for more information about reporting capital gains and losses from a passive activity. 1040ez form for 2012 Form 1099-B transactions. 1040ez form for 2012   If you sold property, such as stocks, bonds, or certain commodities, through a broker, you should receive Form 1099-B or substitute statement from the broker. 1040ez form for 2012 Use the Form 1099-B or the substitute statement to complete Form 8949. 1040ez form for 2012 If you sold a covered security in 2013, your broker should send you a Form 1099-B (or substitute statement) that shows your basis. 1040ez form for 2012 This will help you complete Form 8949. 1040ez form for 2012 Generally, a covered security is a security you acquired after 2010. 1040ez form for 2012   Report the gross proceeds shown in box 2a of Form 1099-B as the sales price in column (d) of either Part I or Part II of Form 8949, whichever applies. 1040ez form for 2012 However, if the broker advises you, in box 2a of Form 1099-B, that gross proceeds (sales price) less commissions and option premiums were reported to the IRS, enter that net sales price in column (d) of either Part I or Part II of Form 8949, whichever applies. 1040ez form for 2012    Include in column (g) any expense of sale, such as broker's fees, commissions, state and local transfer taxes, and option premiums, unless you reported the net sales price in column (d). 1040ez form for 2012 If you include an expense of sale in column (g), enter “E” in column (f). 1040ez form for 2012 Form 1099-CAP transactions. 1040ez form for 2012   If a corporation in which you own stock has had a change in control or a substantial change in capital structure, you should receive Form 1099-CAP or a substitute statement from the corporation. 1040ez form for 2012 Use the Form 1099-CAP or substitute statement to fill in Form 8949. 1040ez form for 2012 If your computations show that you would have a loss because of the change, do not enter any amounts on Form 8949 or Schedule D (Form 1040). 1040ez form for 2012 You cannot claim a loss on Schedule D (Form 1040) as a result of this transaction. 1040ez form for 2012   Report the aggregate amount received shown in box 2 of Form 1099-CAP as the sales price in column (d) of either Part I or Part II of Form 8949, whichever applies. 1040ez form for 2012 Form 1099-S transactions. 1040ez form for 2012   If you sold or traded reportable real estate, you generally should receive from the real estate reporting person a Form 1099-S showing the gross proceeds. 1040ez form for 2012    “Reportable real estate” is defined as any present or future ownership interest in any of the following: Improved or unimproved land, including air space; Inherently permanent structures, including any residential, commercial, or industrial building; A condominium unit and its accessory fixtures and common elements, including land; and Stock in a cooperative housing corporation (as defined in section 216 of the Internal Revenue Code). 1040ez form for 2012   A “real estate reporting person” could include the buyer's attorney, your attorney, the title or escrow company, a mortgage lender, your broker, the buyer's broker, or the person acquiring the biggest interest in the property. 1040ez form for 2012   Your Form 1099-S will show the gross proceeds from the sale or exchange in box 2. 1040ez form for 2012 See the Instructions for Form 8949 and the Instructions for Schedule D (Form 1040) for how to report these transactions and include them in Part I or Part II of Form 8949 as appropriate. 1040ez form for 2012 However, report like-kind exchanges on Form 8824 instead. 1040ez form for 2012   It is unlawful for any real estate reporting person to separately charge you for complying with the requirement to file Form 1099-S. 1040ez form for 2012 Nominees. 1040ez form for 2012   If you receive gross proceeds as a nominee (that is, the gross proceeds are in your name but actually belong to someone else), see the Instructions for Form 8949 for how to report these amounts on Form 8949. 1040ez form for 2012 File Form 1099-B or Form 1099-S with the IRS. 1040ez form for 2012   If you received gross proceeds as a nominee in 2013, you must file a Form 1099-B or Form 1099-S for those proceeds with the IRS. 1040ez form for 2012 Send the Form 1099-B or Form 1099-S with a Form 1096, Annual Summary and Transmittal of U. 1040ez form for 2012 S. 1040ez form for 2012 Information Returns, to your Internal Revenue Service Center by February 28, 2014 (March 31, 2014, if you file Form 1099-B or Form 1099-S electronically). 1040ez form for 2012 Give the actual owner of the proceeds Copy B of the Form 1099-B or Form 1099-S by February 18, 2014. 1040ez form for 2012 On Form 1099-B, you should be listed as the “Payer. 1040ez form for 2012 ” The other owner should be listed as the “Recipient. 1040ez form for 2012 ” On Form 1099-S, you should be listed as the “Filer. 1040ez form for 2012 ” The other owner should be listed as the “Transferor. 1040ez form for 2012 ” You do not have to file a Form 1099-B or Form 1099-S to show proceeds for your spouse. 1040ez form for 2012 For more information about the reporting requirements and the penalties for failure to file (or furnish) certain information returns, see the General Instructions for Certain Information Returns. 1040ez form for 2012 If you are filing electronically see Publication 1220. 1040ez form for 2012 Sale of property bought at various times. 1040ez form for 2012   If you sell a block of stock or other property that you bought at various times, report the short-term gain or loss from the sale on one row in Part I of Form 8949, and the long-term gain or loss on one row in Part II of Form 8949. 1040ez form for 2012 Write “Various” in column (b) for the “Date acquired. 1040ez form for 2012 ” Sale expenses. 1040ez form for 2012    On Form 8949, include in column (g) any expense of sale, such as broker's fees, commissions, state and local transfer taxes, and option premiums, unless you reported the net sales price in column (d). 1040ez form for 2012 If you include an expense of sale in column (g), enter “E” in column (f). 1040ez form for 2012   For more information about adjustments to basis, see chapter 13. 1040ez form for 2012 Short-term gains and losses. 1040ez form for 2012   Capital gain or loss on the sale or trade of investment property held 1 year or less is a short-term capital gain or loss. 1040ez form for 2012 You report it in Part I of Form 8949. 1040ez form for 2012   You combine your share of short-term capital gain or loss from partnerships, S corporations, estates, and trusts, and any short-term capital loss carryover, with your other short-term capital gains and losses to figure your net short-term capital gain or loss on line 7 of Schedule D (Form 1040). 1040ez form for 2012 Long-term gains and losses. 1040ez form for 2012    A capital gain or loss on the sale or trade of investment property held more than 1 year is a long-term capital gain or loss. 1040ez form for 2012 You report it in Part II of Form 8949. 1040ez form for 2012   You report the following in Part II of Schedule D (Form 1040): Undistributed long-term capital gains from a mutual fund (or other regulated investment company) or real estate investment trust (REIT); Your share of long-term capital gains or losses from partnerships, S corporations, estates, and trusts; All capital gain distributions from mutual funds and REITs not reported directly on line 10 of Form 1040A or line 13 of Form 1040; and Long-term capital loss carryovers. 1040ez form for 2012    The result after combining these items with your other long-term capital gains and losses is your net long-term capital gain or loss (Schedule D (Form 1040), line 15). 1040ez form for 2012 Total net gain or loss. 1040ez form for 2012   To figure your total net gain or loss, combine your net short-term capital gain or loss (Schedule D (Form 1040), line 7) with your net long-term capital gain or loss (Schedule D (Form 1040), line 15). 1040ez form for 2012 Enter the result on Schedule D (Form 1040), Part III, line 16. 1040ez form for 2012 If your losses are more than your gains, see Capital Losses , next. 1040ez form for 2012 If both lines 15 and 16 of your Schedule D (Form 1040) are gains and your taxable income on your Form 1040 is more than zero, see Capital Gain Tax Rates , later. 1040ez form for 2012 Capital Losses If your capital losses are more than your capital gains, you can claim a capital loss deduction. 1040ez form for 2012 Report the amount of the deduction on line 13 of Form 1040, in parentheses. 1040ez form for 2012 Limit on deduction. 1040ez form for 2012   Your allowable capital loss deduction, figured on Schedule D (Form 1040), is the lesser of: $3,000 ($1,500 if you are married and file a separate return); or Your total net loss as shown on line 16 of Schedule D (Form 1040). 1040ez form for 2012   You can use your total net loss to reduce your income dollar for dollar, up to the $3,000 limit. 1040ez form for 2012 Capital loss carryover. 1040ez form for 2012   If you have a total net loss on line 16 of Schedule D (Form 1040) that is more than the yearly limit on capital loss deductions, you can carry over the unused part to the next year and treat it as if you had incurred it in that next year. 1040ez form for 2012 If part of the loss is still unused, you can carry it over to later years until it is completely used up. 1040ez form for 2012   When you figure the amount of any capital loss carryover to the next year, you must take the current year's allowable deduction into account, whether or not you claimed it and whether or not you filed a return for the current year. 1040ez form for 2012   When you carry over a loss, it remains long term or short term. 1040ez form for 2012 A long-term capital loss you carry over to the next tax year will reduce that year's long-term capital gains before it reduces that year's short-term capital gains. 1040ez form for 2012 Figuring your carryover. 1040ez form for 2012   The amount of your capital loss carryover is the amount of your total net loss that is more than the lesser of: Your allowable capital loss deduction for the year; or Your taxable income increased by your allowable capital loss deduction for the year and your deduction for personal exemptions. 1040ez form for 2012   If your deductions are more than your gross income for the tax year, use your negative taxable income in computing the amount in item (2). 1040ez form for 2012    Complete the Capital Loss Carryover Worksheet in the Instructions for Schedule D or Publication 550 to determine the part of your capital loss that you can carry over. 1040ez form for 2012 Example. 1040ez form for 2012 Bob and Gloria sold securities in 2013. 1040ez form for 2012 The sales resulted in a capital loss of $7,000. 1040ez form for 2012 They had no other capital transactions. 1040ez form for 2012 Their taxable income was $26,000. 1040ez form for 2012 On their joint 2013 return, they can deduct $3,000. 1040ez form for 2012 The unused part of the loss, $4,000 ($7,000 − $3,000), can be carried over to 2014. 1040ez form for 2012 If their capital loss had been $2,000, their capital loss deduction would have been $2,000. 1040ez form for 2012 They would have no carryover. 1040ez form for 2012 Use short-term losses first. 1040ez form for 2012   When you figure your capital loss carryover, use your short-term capital losses first, even if you incurred them after a long-term capital loss. 1040ez form for 2012 If you have not reached the limit on the capital loss deduction after using the short-term capital losses, use the long-term capital losses until you reach the limit. 1040ez form for 2012 Decedent's capital loss. 1040ez form for 2012    A capital loss sustained by a decedent during his or her last tax year (or carried over to that year from an earlier year) can be deducted only on the final income tax return filed for the decedent. 1040ez form for 2012 The capital loss limits discussed earlier still apply in this situation. 1040ez form for 2012 The decedent's estate cannot deduct any of the loss or carry it over to following years. 1040ez form for 2012 Joint and separate returns. 1040ez form for 2012   If you and your spouse once filed separate returns and are now filing a joint return, combine your separate capital loss carryovers. 1040ez form for 2012 However, if you and your spouse once filed a joint return and are now filing separate returns, any capital loss carryover from the joint return can be deducted only on the return of the spouse who actually had the loss. 1040ez form for 2012 Capital Gain Tax Rates The tax rates that apply to a net capital gain are generally lower than the tax rates that apply to other income. 1040ez form for 2012 These lower rates are called the maximum capital gain rates. 1040ez form for 2012 The term “net capital gain” means the amount by which your net long-term capital gain for the year is more than your net short-term capital loss. 1040ez form for 2012 For 2013, the maximum capital gain rates are 0%, 15%, 20%, 25%, and 28%. 1040ez form for 2012 See Table 16-1 for details. 1040ez form for 2012 If you figure your tax using the maximum capital gain rate and the regular tax computation results in a lower tax, the regular tax computation applies. 1040ez form for 2012 Example. 1040ez form for 2012 All of your net capital gain is from selling collectibles, so the capital gain rate would be 28%. 1040ez form for 2012 If you are otherwise subject to a rate lower than 28%, the 28% rate does not apply. 1040ez form for 2012 Investment interest deducted. 1040ez form for 2012   If you claim a deduction for investment interest, you may have to reduce the amount of your net capital gain that is eligible for the capital gain tax rates. 1040ez form for 2012 Reduce it by the amount of the net capital gain you choose to include in investment income when figuring the limit on your investment interest deduction. 1040ez form for 2012 This is done on the Schedule D Tax Worksheet or the Qualified Dividends and Capital Gain Tax Worksheet. 1040ez form for 2012 For more information about the limit on investment interest, see Interest Expenses in chapter 3 of Publication 550. 1040ez form for 2012 Table 16-1. 1040ez form for 2012 What Is Your Maximum Capital Gain Rate? IF your net capital gain is from . 1040ez form for 2012 . 1040ez form for 2012 . 1040ez form for 2012 THEN your  maximum capital gain rate is . 1040ez form for 2012 . 1040ez form for 2012 . 1040ez form for 2012 a collectibles gain 28% an eligible gain on qualified small business stock minus the section 1202 exclusion 28% an unrecaptured section 1250 gain 25% other gain1 and the regular tax rate that would apply is 39. 1040ez form for 2012 6% 20% other gain1 and the regular tax rate that would apply is 25%, 28%, 33%, or 35% 15% other gain1 and the regular tax rate that would apply is 10% or 15% 0% 1 Other gain means any gain that is not collectibles gain, gain on qualified small business stock, or unrecaptured section 1250 gain. 1040ez form for 2012     Collectibles gain or loss. 1040ez form for 2012   This is gain or loss from the sale or trade of a work of art, rug, antique, metal (such as gold, silver, and platinum bullion), gem, stamp, coin, or alcoholic beverage held more than 1 year. 1040ez form for 2012   Collectibles gain includes gain from sale of an interest in a partnership, S corporation, or trust due to unrealized appreciation of collectibles. 1040ez form for 2012 Gain on qualified small business stock. 1040ez form for 2012    If you realized a gain from qualified small business stock that you held more than 5 years, you generally can exclude some or all of your gain under section 1202. 1040ez form for 2012 The eligible gain minus your section 1202 exclusion is a 28% rate gain. 1040ez form for 2012 See Gains on Qualified Small Business Stock in chapter 4 of Publication 550. 1040ez form for 2012 Unrecaptured section 1250 gain. 1040ez form for 2012    Generally, this is any part of your capital gain from selling section 1250 property (real property) that is due to depreciation (but not more than your net section 1231 gain), reduced by any net loss in the 28% group. 1040ez form for 2012 Use the Unrecaptured Section 1250 Gain Worksheet in the Schedule D (Form 1040) instructions to figure your unrecaptured section 1250 gain. 1040ez form for 2012 For more information about section 1250 property and section 1231 gain, see chapter 3 of Publication 544. 1040ez form for 2012 Tax computation using maximum capital gain rates. 1040ez form for 2012   Use the Qualified Dividends and Capital Gain Tax Worksheet or the Schedule D Tax Worksheet (whichever applies) to figure your tax if you have qualified dividends or net capital gain. 1040ez form for 2012 You have net capital gain if Schedule D (Form 1040), lines 15 and 16, are both gains. 1040ez form for 2012 Schedule D Tax Worksheet. 1040ez form for 2012   Use the Schedule D Tax Worksheet in the Schedule D (Form 1040) instructions to figure your tax if: You have to file Schedule D (Form 1040); and Schedule D (Form 1040), line 18 (28% rate gain) or line 19 (unrecaptured section 1250 gain), is more than zero. 1040ez form for 2012 Qualified Dividends and Capital Gain Tax Worksheet. 1040ez form for 2012   If you do not have to use the Schedule D Tax Worksheet (as explained above) and any of the following apply, use the Qualified Dividends and Capital Gain Tax Worksheet in the instructions for Form 1040 or Form 1040A (whichever you file) to figure your tax. 1040ez form for 2012 You received qualified dividends. 1040ez form for 2012 (See Qualified Dividends in chapter 8. 1040ez form for 2012 ) You do not have to file Schedule D (Form 1040) and you received capital gain distributions. 1040ez form for 2012 (See Exceptions to filing Form 8949 and Schedule D (Form 1040) , earlier. 1040ez form for 2012 ) Schedule D (Form 1040), lines 15 and 16, are both more than zero. 1040ez form for 2012 Alternative minimum tax. 1040ez form for 2012   These capital gain rates are also used in figuring alternative minimum tax. 1040ez form for 2012 Prev  Up  Next   Home   More Online Publications