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2012 Federal Tax Forms 1040

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2012 Federal Tax Forms 1040

2012 federal tax forms 1040 21. 2012 federal tax forms 1040   Gastos Médicos y Dentales Table of Contents Qué Hay de Nuevo Introduction Useful Items - You may want to see: ¿Qué Son Gastos Médicos? ¿Qué Gastos Puede Incluir Este Año?Estados donde rige la ley de los bienes gananciales. 2012 federal tax forms 1040 ¿Qué Cantidad de los Gastos Puede Deducir? ¿De Qué Personas Puede Incluir Gastos Médicos?Usted Cónyuge Dependiente Difuntos ¿Qué Gastos Médicos se Pueden Incluir?Primas de Seguros Comidas y Alojamiento Transporte Gastos del Cuidado de un Dependiente Incapacitado ¿Cómo se Tratan los Reembolsos?Reembolso de Seguros Indemnizaciones por Lesiones Personales Cómo Calcular y Reclamar la Deducción en su Declaración de Impuestos¿Qué Formulario Debe Usar para la Declaración? Gastos de Trabajo Relacionados con un Impedimento Costos del Seguro Médico para Personas que Trabajan por Cuenta Propia Qué Hay de Nuevo Gastos médicos y dentales. 2012 federal tax forms 1040  Comenzando el 1 de enero de 2013, usted puede deducir sólo la parte de sus gastos médicos y dentales que exceda del 10% de su ingreso bruto ajustado (AGI, por sus siglas en inglés) (7. 2012 federal tax forms 1040 5% si usted o su cónyuge tiene 65 años de edad o más). 2012 federal tax forms 1040 Tarifa estándar por milla. 2012 federal tax forms 1040  La tarifa estándar por milla permitida para gastos de operación de un automóvil cuando se usa por razones médicas es 24 centavos por milla. 2012 federal tax forms 1040 Vea Transporte bajo ¿Qué Gastos Médicos se Pueden Incluir?, más adelante. 2012 federal tax forms 1040 Introduction Este capítulo le ayudará a determinar: Qué son gastos médicos. 2012 federal tax forms 1040 Qué gastos puede incluir este año. 2012 federal tax forms 1040 Qué cantidad de los gastos puede deducir. 2012 federal tax forms 1040 De qué personas puede incluir gastos médicos. 2012 federal tax forms 1040 Qué gastos médicos se pueden incluir. 2012 federal tax forms 1040 Cómo tratar los reembolsos. 2012 federal tax forms 1040 Cómo declarar la deducción en la declaración de impuestos. 2012 federal tax forms 1040 Cómo declarar gastos de trabajo relacionados con la incapacidad. 2012 federal tax forms 1040 Cómo declarar los costos del seguro médico si trabaja por cuenta propia. 2012 federal tax forms 1040 Useful Items - You may want to see: Publicaciones 502 Medical and Dental Expenses (Gastos médicos y dentales), en inglés 969 Health Savings Accounts and Other Tax-Favored Health Plans (Cuentas de ahorros para gastos médicos y otros planes para gastos médicos con beneficios tributarios), en inglés Formularios (e Instrucciones) Anexo A (Formulario 1040) Itemized Deductions (Deducciones detalladas), en inglés ¿Qué Son Gastos Médicos? Los gastos médicos incluyen pagos por diagnóstico, cura, alivio, tratamiento o prevención de enfermedades o por tratamientos que afecten alguna parte o función del cuerpo. 2012 federal tax forms 1040 Estos gastos abarcan los pagos por servicios médicos legales prestados por médicos, cirujanos, dentistas y otros profesionales de la salud. 2012 federal tax forms 1040 Incluyen los costos de equipo, suministros y dispositivos de diagnósticos que se necesiten para estos propósitos. 2012 federal tax forms 1040 Los gastos de cuidados médicos tienen que ser principalmente para aliviar o prevenir un defecto o enfermedad física o mental. 2012 federal tax forms 1040 No incluya gastos que sean tan sólo beneficiosos para la salud en general, como vitaminas o vacaciones. 2012 federal tax forms 1040 Los gastos médicos incluyen las primas pagadas por un seguro que cubra los gastos de cuidados médicos y las cantidades pagadas por transporte para recibir cuidados médicos. 2012 federal tax forms 1040 Los gastos médicos también incluyen cantidades pagadas por servicios calificados de cuidados a largo plazo y cantidades limitadas pagadas por cualquier contrato de cuidados a largo plazo calificado. 2012 federal tax forms 1040 ¿Qué Gastos Puede Incluir Este Año? Puede incluir sólo los gastos médicos y dentales que pagó este año, independientemente de cuándo se proveyeron los servicios. 2012 federal tax forms 1040 Si paga gastos médicos por cheque, el día en que envíe o entregue el cheque suele ser la fecha de pago. 2012 federal tax forms 1040 Si paga sus gastos médicos por medio de una “cuenta a pagar por teléfono” o Internet, la fecha indicada en el estado de cuentas de la institución financiera que señala cuándo se hizo el pago se considera la fecha de pago. 2012 federal tax forms 1040 Si utiliza una tarjeta de crédito, incluya los gastos médicos que cargue a su tarjeta de crédito en el año en que se haga el cargo, no en el que de hecho pague el monto cargado a su tarjeta de crédito. 2012 federal tax forms 1040 Declaraciones por separado. 2012 federal tax forms 1040   Si usted y su cónyuge viven en un estado donde no rigen las leyes de los bienes gananciales y presentan declaraciones por separado, cada uno de ustedes puede incluir sólo los gastos médicos que cada uno de hecho pagó. 2012 federal tax forms 1040 Todos los gastos médicos pagados de una cuenta corriente conjunta en la cual son dueños por igual usted y su cónyuge se consideran pagados equitativamente por cada uno de ustedes, a menos que pueda demostrar lo contrario. 2012 federal tax forms 1040 Estados donde rige la ley de los bienes gananciales. 2012 federal tax forms 1040   Si usted y su cónyuge viven en un estado donde rigen las leyes de los bienes gananciales y presentan declaraciones por separado o están inscritos como parejas de hecho en Nevada, Washington o California, todos los gastos médicos pagados de fondos de la comunidad conyugal se dividen por igual. 2012 federal tax forms 1040 Cada uno de ustedes debería incluir la mitad de los gastos. 2012 federal tax forms 1040 Si los gastos médicos se pagan de los fondos separados de un cónyuge, sólo el cónyuge que pagó los gastos médicos puede incluirlos. 2012 federal tax forms 1040 Si usted vive en un estado donde rigen las leyes de los bienes gananciales, y no presenta una declaración conjunta, vea la Publicación 555, Community Property (Bienes gananciales), en inglés. 2012 federal tax forms 1040 ¿Qué Cantidad de los Gastos Puede Deducir? Por lo general, puede deducir en el Anexo A (Formulario 1040) sólo la cantidad de sus gastos médicos y dentales que exceda del 10% (7. 2012 federal tax forms 1040 5% si usted o su cónyuge tiene 65 años de edad o más) de su ingreso bruto ajustado (AGI, por sus siglas en inglés) (línea 38 del Formulario 1040). 2012 federal tax forms 1040 Ejemplo. 2012 federal tax forms 1040 Usted no está casado, es menor de 65 años de edad y su ingreso bruto ajustado es $40,000. 2012 federal tax forms 1040 El 10% de esa cantidad es $4,000. 2012 federal tax forms 1040 Usted pagó gastos médicos de $2,500. 2012 federal tax forms 1040 No puede deducir ningunos de sus gastos médicos porque éstos no son mayores que el 10% de su ingreso bruto ajustado. 2012 federal tax forms 1040 ¿De Qué Personas Puede Incluir Gastos Médicos? Normalmente, puede incluir gastos médicos que pagó por usted mismo o por alguien que fuera su cónyuge o su dependiente cuando se proporcionaron los servicios o cuando usted los pagó. 2012 federal tax forms 1040 Hay reglas distintas para personas fallecidas y personas nombradas en acuerdos de manutención múltiple. 2012 federal tax forms 1040 Vea Manutención reclamada conforme a un acuerdo de manutención múltiple , más adelante. 2012 federal tax forms 1040 Usted Puede incluir los gastos médicos que pagó por usted mismo. 2012 federal tax forms 1040 Cónyuge Puede incluir los gastos médicos que pagó por su cónyuge. 2012 federal tax forms 1040 Para incluir estos gastos, tiene que haber estado casado en el momento en que su cónyuge recibió los servicios médicos o en el momento en que usted los pagó. 2012 federal tax forms 1040 Ejemplo 1. 2012 federal tax forms 1040 María recibió tratamiento médico antes de casarse con Guillermo. 2012 federal tax forms 1040 Guillermo pagó por el tratamiento después de casarse. 2012 federal tax forms 1040 Guillermo puede incluir estos gastos al calcular su deducción por gastos médicos aunque Guillermo y María presenten declaraciones separadas. 2012 federal tax forms 1040 Si María hubiera pagado los gastos, Guillermo no podría incluir los gastos de María en la declaración separada de él. 2012 federal tax forms 1040 María incluiría las cantidades que ella pagó a lo largo del año en su declaración separada. 2012 federal tax forms 1040 Si presentaran una declaración conjunta, los gastos médicos que ambos pagaron a lo largo del año se usarían para calcular la deducción de gastos médicos de ambos. 2012 federal tax forms 1040 Ejemplo 2. 2012 federal tax forms 1040 Este año, Juan pagó gastos médicos por su cónyuge Luisa, la cual murió el año pasado. 2012 federal tax forms 1040 Juan se casó con Beatriz este año y presentan una declaración conjunta. 2012 federal tax forms 1040 Debido a que Juan estaba casado con Luisa cuando ella recibió los servicios médicos, puede incluir esos gastos al calcular su deducción por gastos médicos correspondiente a este año. 2012 federal tax forms 1040 Dependiente Puede incluir los gastos médicos que pagó por su dependiente. 2012 federal tax forms 1040 Para incluir estos gastos, la persona tiene que haber sido su dependiente en el momento en que se proveyeron los servicios médicos o en el momento en que usted pagó los gastos. 2012 federal tax forms 1040 Generalmente, una persona puede considerarse su dependiente para propósitos de la deducción de gastos médicos si se cumplen los dos requisitos siguientes: La persona era hijo calificado (definido más adelante) o pariente calificado (definido más adelante) y La persona era ciudadana o nacional de los Estados Unidos o era residente de los Estados Unidos, Canadá o México. 2012 federal tax forms 1040 Si su hijo calificado fue adoptado, vea el tema que se presenta a continuación, Excepción por hijo adoptivo . 2012 federal tax forms 1040 Puede incluir los gastos médicos que pagó a nombre de una persona que hubiera sido su dependiente, salvo que: Dicha persona recibió ingresos brutos de $3,900 o más en 2013, Dicha persona presentó una declaración conjunta para el año 2013 o Usted, o su cónyuge si presentan una declaración conjunta, puede ser reclamado como dependiente en la declaración de 2013 de otra persona. 2012 federal tax forms 1040 Excepción por hijo adoptivo. 2012 federal tax forms 1040   Si usted es ciudadano o nacional estadounidense y su hijo adoptivo vivió con usted como miembro de su unidad familiar durante el año 2013, dicho hijo no tiene que ser ciudadano o nacional estadounidense ni ser residente de los Estados Unidos, Canadá o México. 2012 federal tax forms 1040 Hijo Calificado Un hijo calificado es un hijo que: Es su hijo o hija, hijastro o hijastra, hijo de crianza, hermano o hermana, hermanastro o hermanastra, medio hermano o media hermana o descendiente de cualquiera de ellos (por ejemplo, su nieto, sobrino o sobrina), Tenía: Menos de 19 años de edad al final del año 2013 y era menor que usted (o su cónyuge, si presenta una declaración conjunta), Menos de 24 años de edad al final del año 2013, era estudiante de tiempo completo y menor que usted (o su cónyuge, si presenta una declaración conjunta) o Cualquier edad y estaba total y permanentemente incapacitado, Vivió con usted por más de la mitad del año 2013, No proveyó más de la mitad de su propia manutención durante el año 2013 y No presentó una declaración conjunta, a menos que la haya presentado únicamente para reclamar un reembolso. 2012 federal tax forms 1040 Hijo adoptivo. 2012 federal tax forms 1040   Un hijo legalmente adoptado se considera su propio hijo. 2012 federal tax forms 1040 Esto incluye a un hijo colocado legalmente bajo su cargo para adopción legal. 2012 federal tax forms 1040   Puede incluir los gastos médicos que pagó por un hijo antes de la adopción si el hijo reunía los requisitos para ser su dependiente cuando se proveyeron los servicios médicos o cuando se pagaron los gastos. 2012 federal tax forms 1040   Si reintegra a una agencia de adopciones o a otras personas los gastos médicos que ellas pagaron bajo un acuerdo con usted, es como si usted hubiera pagado dichos gastos con tal de que demuestre claramente que el pago es directamente atribuible al cuidado médico del hijo. 2012 federal tax forms 1040   Pero si usted paga a la agencia o a otra persona el cuidado médico que fue provisto y pagado antes de que empezaran las negociaciones de adopción, no los puede incluir como gastos médicos. 2012 federal tax forms 1040    Tal vez pueda tomar un crédito por otros gastos relacionados con la adopción. 2012 federal tax forms 1040 Vea las Instrucciones para el Formulario 8839, Qualified Adoption Expenses (Gastos calificados de adopciones), en inglés, para más información. 2012 federal tax forms 1040 Hijo de padres divorciados o separados. 2012 federal tax forms 1040   Para propósitos de la deducción de gastos médicos y dentales, un hijo de padres divorciados o separados puede considerarse dependiente de ambos padres. 2012 federal tax forms 1040 Cada padre puede incluir los gastos médicos que él o ella pague por el hijo, aunque el otro padre declare la exención de dependencia del hijo, si: El hijo queda bajo la custodia de uno o ambos padres por más de la mitad del año, El hijo recibe más de la mitad de su manutención durante el año de sus padres y Los padres del hijo: Están divorciados o legalmente separados bajo un fallo de divorcio o de manutención por separación judicial, Están separados bajo un acuerdo de separación judicial escrito o Viven separados en todo momento durante los últimos 6 meses del año. 2012 federal tax forms 1040 Esto no corresponde si la exención del hijo se reclama conforme a un acuerdo de manutención múltiple (explicado más adelante). 2012 federal tax forms 1040 Pariente Calificado Un pariente calificado es una persona: Que es su: Hijo o hija, hijastro o hijastra, hijo de crianza o descendiente de cualquiera de ellos (por ejemplo, su nieto), Hermano o hermana, medio hermano o media hermana o un hijo de cualquiera de ellos, Padre, madre o antecesor o hermano o hermana de cualquiera de ellos (por ejemplo, su abuelo o abuela, o tío o tía), Hermanastro o hermanastra, padrastro, madrastra, yerno, nuera, suegro o suegra, cuñado o cuñada o Cualquier otra persona (que no sea su cónyuge) que haya vivido con usted durante todo el año como integrante de su unidad familiar si su relación no violó la ley local, Quien no era hijo calificado (vea Hijo Calificado , anteriormente) de cualquier otra persona para el año 2013 y Para la cual usted proveyó más de la mitad de la manutención del año 2013. 2012 federal tax forms 1040 Pero vea Hijo de padres divorciados o separados , anteriormente, y Manutención reclamada conforme a un acuerdo de manutención múltiple, que aparece a continuación. 2012 federal tax forms 1040 Manutención reclamada conforme a un acuerdo de manutención múltiple. 2012 federal tax forms 1040   Si se considera que usted proveyó más de la mitad de la manutención de un pariente conforme a un acuerdo de manutención múltiple, puede incluir los gastos médicos que pague por dicho pariente. 2012 federal tax forms 1040 El acuerdo de manutención múltiple se usa cuando dos o más personas proveen más de la mitad de la manutención de una persona, pero ninguna persona sola provee más de la mitad. 2012 federal tax forms 1040   Todos los demás gastos médicos pagados por otras personas que firmaron con usted el acuerdo no pueden ser incluidos como gastos médicos por nadie. 2012 federal tax forms 1040 Sin embargo, usted puede incluir la totalidad de la cantidad no reembolsada que usted pagó por concepto de gastos médicos. 2012 federal tax forms 1040 Ejemplo. 2012 federal tax forms 1040 Usted y sus tres hermanos proveen cada uno una cuarta parte del total de la manutención de su madre. 2012 federal tax forms 1040 Conforme a un acuerdo de manutención múltiple, usted declara a su madre como su dependiente. 2012 federal tax forms 1040 Usted pagó todos sus gastos médicos. 2012 federal tax forms 1040 Sus hermanos le reembolsaron a usted las tres cuartas partes de dichos gastos. 2012 federal tax forms 1040 Al calcular su deducción de gastos médicos, usted puede incluir sólo una cuarta parte de los gastos médicos de su madre. 2012 federal tax forms 1040 Sus hermanos no pueden incluir ninguna parte de los gastos. 2012 federal tax forms 1040 Sin embargo, si usted y sus hermanos comparten los gastos que no sean de manutención médica y usted paga por separado todos los gastos médicos de su madre, usted puede incluir la cantidad no reembolsada que pagó por concepto de gastos médicos en los gastos médicos de usted. 2012 federal tax forms 1040 Difuntos Los gastos médicos que fueron pagados por el difunto antes de que falleciera se incluyen al calcular las deducciones por gastos médicos y dentales en la declaración de impuestos final sobre el ingreso del difunto. 2012 federal tax forms 1040 Esto incluye gastos tanto para el cónyuge y los dependientes del difunto como para el mismo difunto. 2012 federal tax forms 1040 El sobreviviente o representante personal de un difunto puede optar por tratar ciertos gastos médicos del difunto pagados por el caudal hereditario del mismo como si hubieran sido pagados por el difunto en el momento en que se le proveyeron los servicios médicos. 2012 federal tax forms 1040 Los gastos se tienen que pagar dentro del plazo de 1 año a partir del día siguiente al día del fallecimiento. 2012 federal tax forms 1040 Si usted es el sobreviviente o representante personal que elige esta opción, tendrá que adjuntar un documento escrito al Formulario 1040 del difunto (o la declaración enmendada del difunto, Formulario 1040X) explicando que los gastos no han sido y no serán declarados en la declaración del impuesto del caudal hereditario. 2012 federal tax forms 1040 Los gastos médicos calificados que el difunto pagó antes de su muerte no son deducibles si fueron pagados por medio de una distribución exenta de impuestos proveniente de una cuenta Archer MSA de ahorros médicos, cuenta Medicare Advantage MSA u otra cuenta de ahorros para gastos médicos. 2012 federal tax forms 1040 Las declaraciones enmendadas y reclamaciones de reembolsos se explican en el capítulo 1 . 2012 federal tax forms 1040 ¿Y si usted paga gastos médicos de un cónyuge fallecido o un dependiente fallecido?   Si usted pagó gastos médicos para su cónyuge o dependiente fallecido, inclúyalos como gastos médicos en su Formulario 1040 en el año en que fueron pagados, independientemente de si se pagan antes o después de la muerte del difunto. 2012 federal tax forms 1040 Los gastos pueden ser incluidos si la persona era su cónyuge o dependiente en el momento en que se proveyeron los servicios médicos o en el momento en que usted pagó los gastos. 2012 federal tax forms 1040 ¿Qué Gastos Médicos se Pueden Incluir? Use la Tabla 21-1, anteriormente, como guía para determinar qué gastos médicos y dentales puede incluir en el Anexo A (Formulario 1040). 2012 federal tax forms 1040 Esta tabla no abarca todos los gastos médicos en los que se puede incurrir. 2012 federal tax forms 1040 Para determinar si un gasto no indicado en la tabla se puede incluir en el cálculo de la deducción por gastos médicos, vea la sección ¿Qué Son Gastos Médicos? , anteriormente. 2012 federal tax forms 1040 Tabla 21-1. 2012 federal tax forms 1040 Lista de Gastos Médicos y Dentales. 2012 federal tax forms 1040 Vea la Publicación 502 para más información sobre estos gastos, entre otros. 2012 federal tax forms 1040 Puede incluir: No puede incluir: Vendas Píldoras anticonceptivas recetadas por su médico Escaneo electrónico del cuerpo Libros en Braille Extractor de leche materna (sacaleches) y suministros relacionados Gastos de capital para equipo o mejoras a su vivienda que se necesitan para el cuidado médico (vea la hoja de trabajo de la Publicación 502, en inglés) Dispositivos de diagnóstico Gastos de un donante de órganos Cirugía ocular —para promover el funcionamiento correcto del ojo Ciertos procedimientos para aumentar la fertilidad Perros guía u otros animales de ayuda para personas ciegas, sordas o incapacitadas Cargos por servicios hospitalarios (pruebas de laboratorio, terapia, servicios de enfermería, cirugía, etc. 2012 federal tax forms 1040 ) Eliminación de pintura a base de plomo Aborto legal Operación legal para evitar tener niños tal como una vasectomía o ligadura de trompas Contratos calificados del cuidado a largo plazo Comidas y alojamiento provistos por un hospital durante un tratamiento médico Cargos por servicios médicos (de médicos, dentistas, cirujanos, especialistas y otros profesionales médicos) Primas de la Parte D de Medicare Primas de seguros médicos y hospitalarios Servicios de enfermería Equipo de oxígeno y oxígeno Parte del cargo por cuidados de vida pagados a un hogar de ancianos designado para cuidados médicos Exámen físico Paquete para pruebas de embarazo Medicamentos recetados (por un médico) e insulina Tratamiento siquiátrico y sicológico Impuesto al Seguro Social, Impuesto al Medicare, prestaciones por desempleo (FUTA) e impuesto estatal sobre el salario de un trabajador que provee cuidados médicos (vea Salarios por servicios de enfermería, más adelante) Artículos especiales (piernas y brazos artificiales, dientes postizos, lentes (espejuelos), lentes de contacto, audífonos, muletas, sillas de ruedas, etc. 2012 federal tax forms 1040 ) Educación especial para personas mental o físicamente incapacitadas Programas para dejar de fumar Transporte para cuidados médicos necesarios Tratamiento en un centro de rehabilitación para la adicción a drogas o alcohol (incluye las comidas y el alojamiento provistos por el centro) Salarios por servicios de enfermería Reducción de peso, ciertos gastos relacionados con la obesidad Cuidado infantil Agua embotellada Aportaciones hechas a una cuenta Archer MSA de ahorros médicos (vea la Publicación 969, en inglés) Servicio de pañales Gastos por concepto de su salud en general (aunque usted esté siguiendo los consejos de su médico) tales como: —La cuota de un club deportivo —Ayuda doméstica (incluso si es por recomendación de un médico) —Actividades sociales, tales como cursos de baile o de natación —Viaje para la mejora general de la salud Reembolsos de una cuenta para gastos médicos flexible (flexible spending account) (si las aportaciones fueron hechas antes de impuestos) Gastos de funeral, sepelio o cremación Pagos hechos a cuentas de ahorros para gastos médicos Operación, tratamiento o medicamento ilegal Pólizas de seguro de vida o de protección de ingresos, ni pólizas que proporcionen pagos en caso de pérdida de la vida, una extremidad, la vista, etc. 2012 federal tax forms 1040 Ropa de maternidad Seguro médico incluido en una póliza de seguro de automóvil que cubra a todas las personas lesionadas en el automóvil o por el mismo Medicamentos que usted compre sin receta Cuidado de enfermería para un bebé que tenga buena salud Medicamentos recetados que usted trajo (o pidió por envío) de otro país, en la mayoría de los casos Suplementos nutritivos, vitaminas, suplementos a base de hierbas, “medicinas naturales”, etc. 2012 federal tax forms 1040 , a menos que sean recomendados por un profesional médico como tratamiento para un padecimiento médico específico que haya sido diagnosticado por un médico Cirugía para propósitos puramente cosméticos Pasta de dientes, artículos de tocador, cosméticos, etc. 2012 federal tax forms 1040 Blanqueamiento de dientes Gastos de reducción de peso que no sean para el tratamiento de la obesidad u otra enfermedad Primas de Seguros Puede incluir en los gastos médicos las primas que pague por pólizas de seguros que cubran los cuidados médicos. 2012 federal tax forms 1040 Las pólizas de cuidados médicos pueden pagar por tratamientos que abarcan: Hospitalización, servicios de cirugía, radiografías, Medicamentos recetados e insulina, Cuidado dental, Reemplazo de lentes de contacto perdidos o dañados o Cuidados a largo plazo (sujetos a limitaciones adicionales). 2012 federal tax forms 1040 Vea Qualified Long-Term Care Insurance Contracts (Contratos de seguro de cuidados a largo plazo calificados) en la Publicación 502, en inglés. 2012 federal tax forms 1040 Si tiene una póliza que pague por cuidados que no sean médicos, puede incluir las primas por la parte de la póliza que corresponda a los cuidados médicos si el cargo por esta parte es razonable. 2012 federal tax forms 1040 El costo de la parte médica se tiene que indicar por separado en el contrato del seguro o se le tiene que entregar a usted en un estado de cuentas por separado. 2012 federal tax forms 1040 Nota: Al calcular la cantidad de primas de seguros que puede incluir en los gastos médicos en el Anexo A, no incluya ningún pago adelantado del crédito tributario por cobertura del seguro médico que aparezca en el recuadro 1 del Formulario 1099-H, Health Coverage Tax Credit (HCTC) Advance Payments (Pagos adelantados del crédito tributario por cobertura de seguro médico (HCTC, por sus siglas en inglés)). 2012 federal tax forms 1040 Además, no incluya las primas de seguro que corresponden a un hijo no dependiente menor de 27 años de edad si sus primas aumentaron como resultado de incluir a este hijo en su póliza. 2012 federal tax forms 1040 Plan de seguro médico provisto por el empleador. 2012 federal tax forms 1040   No incluya en sus gastos médicos y dentales ninguna prima de seguro pagada por un plan de seguro médico provisto por el empleador a menos que las primas se incluyan en el recuadro 1 del Formulario W-2. 2012 federal tax forms 1040 Además, no incluya ningún otro gasto médico o dental pagado por dicho plan a menos que la cantidad pagada se incluya en el recuadro 1 del Formulario W-2. 2012 federal tax forms 1040 Ejemplo. 2012 federal tax forms 1040 Usted es empleado federal que participa en el plan de conversión de primas del programa de Federal Employee Health Benefits o FEHB, por sus siglas en inglés (Beneficios de salud para empleados federales). 2012 federal tax forms 1040 Su parte de la prima del FEHB se paga mediante una reducción de su salario antes de imponerle impuestos. 2012 federal tax forms 1040 Como usted es un empleado cuyas primas de seguro se pagan con dinero que nunca se incluye en sus ingresos brutos, no puede deducir las primas que fueron pagadas con dicho dinero. 2012 federal tax forms 1040 Servicios de cuidado a largo plazo. 2012 federal tax forms 1040   Las aportaciones hechas por su empleador para proveer cobertura por servicios de cuidados a largo plazo calificados bajo una cuenta para gastos médicos flexible, o cuenta similar, tienen que ser incluidas en sus ingresos. 2012 federal tax forms 1040 Esta cantidad será declarada como salario en el recuadro 1 del Formulario W-2. 2012 federal tax forms 1040 Plan de reembolso de gastos médicos. 2012 federal tax forms 1040   Si tiene gastos médicos que son reembolsados por un plan de reembolso de gastos médicos (HRA, por sus siglas en inglés), no puede incluirlos en sus gastos médicos. 2012 federal tax forms 1040 Esto se debe a que un HRA es financiado únicamente por el empleador. 2012 federal tax forms 1040 Funcionarios jubilados del sector de seguridad pública. 2012 federal tax forms 1040   Si usted es funcionario jubilado de seguridad pública, no incluya como gastos médicos ninguna prima de un seguro médico o de cuidados a largo plazo si eligió que dicha prima se pagara con distribuciones exentas de impuestos procedentes de su plan de jubilación. 2012 federal tax forms 1040 Esto corresponde solamente a distribuciones que de otro modo se incluirían en los ingresos. 2012 federal tax forms 1040 Medicare A. 2012 federal tax forms 1040   Si está cubierto bajo el Seguro Social (o si es empleado del gobierno que pagó el impuesto del Medicare), está inscrito en el Medicare A. 2012 federal tax forms 1040 El impuesto sobre la nómina pagado para el Medicare A no es gasto médico. 2012 federal tax forms 1040   Si no está cubierto bajo el Seguro Social (o si no es empleado del gobierno que pagó el impuesto del Medicare), puede inscribirse voluntariamente en el Medicare A. 2012 federal tax forms 1040 En esta situación, puede incluir las primas pagadas por concepto de Medicare A como gasto médico. 2012 federal tax forms 1040 Medicare B. 2012 federal tax forms 1040    Medicare B es un seguro médico suplementario. 2012 federal tax forms 1040 Las primas que paga por concepto del Medicare B son un gasto médico. 2012 federal tax forms 1040 Verifique la información que recibió de la Administración del Seguro Social para averiguar la prima correspondiente. 2012 federal tax forms 1040 Medicare D. 2012 federal tax forms 1040    Medicare D es un programa voluntario de seguro para medicamentos recetados dirigido a personas con Medicare A o B. 2012 federal tax forms 1040 Puede incluir las primas que pague por el Medicare D como un gasto médico. 2012 federal tax forms 1040 Primas de seguros pagadas por adelantado. 2012 federal tax forms 1040   Las primas que pague antes de cumplir 65 años de edad por seguros de cuidados médicos a nombre de usted, su cónyuge o sus dependientes después de que usted alcance la edad de 65 años son gastos de cuidados médicos en el año en que se pagan si son: Pagaderas en plazos anuales fijos, o plazos más frecuentes y Pagaderas por al menos 10 años, o hasta que cumpla 65 años de edad (pero no por menos de 5 años). 2012 federal tax forms 1040 Licencia por enfermedad sin usar para pagar primas. 2012 federal tax forms 1040   Tiene que incluir en los ingresos brutos los pagos en efectivo que reciba a la fecha de jubilarse por licencia de enfermedad que no haya usado. 2012 federal tax forms 1040 También tiene que incluir en los ingresos brutos el valor de la licencia sin usar que, según usted elija, su empleador utiliza para cubrir el costo de su participación continuada en el plan de salud del empleador después de jubilarse. 2012 federal tax forms 1040 Puede incluir este costo de participación continuada en el plan médico como gasto médico. 2012 federal tax forms 1040   Si participa en un plan de salud en el que su empleador utiliza automáticamente el valor de la licencia por enfermedad sin usar para cubrir el costo de su participación continuada en el plan de salud (y usted no tiene la opción de recibir dinero en efectivo), no incluya el valor de la licencia por enfermedad sin usar en los ingresos brutos. 2012 federal tax forms 1040 No puede incluir este costo de su participación continuada en dicho plan de salud como gasto médico. 2012 federal tax forms 1040 Comidas y Alojamiento Puede incluir en los gastos médicos el costo de comidas y alojamiento en un hospital o institución parecida si el motivo principal para estar allí es recibir cuidados médicos. 2012 federal tax forms 1040 Vea Hogar de ancianos y de convalecencia , más adelante. 2012 federal tax forms 1040 Tal vez pueda incluir en los gastos médicos el costo de alojamiento que no sea en un hospital o institución semejante. 2012 federal tax forms 1040 Puede incluir el costo de tal alojamiento mientras esté lejos de su casa si se reúnen todos los siguientes requisitos: El alojamiento es principal y esencialmente para fines de cuidado médico. 2012 federal tax forms 1040 El cuidado médico lo provee un médico de un hospital autorizado o de un centro médico asociado con un hospital autorizado o equivalente al mismo. 2012 federal tax forms 1040 El alojamiento no es lujoso ni extravagante, dadas las circunstancias. 2012 federal tax forms 1040 El placer personal, el recreo o las vacaciones no son factores significativos de la estadía fuera de su hogar. 2012 federal tax forms 1040 La cantidad que incluya en los gastos médicos por concepto de alojamiento no puede ser mayor de $50 por cada noche por persona. 2012 federal tax forms 1040 Puede incluir el alojamiento para una persona que viaje con la persona que recibe el cuidado médico. 2012 federal tax forms 1040 Por ejemplo, si un padre o una madre viaja con un hijo enfermo, se pueden incluir hasta $100 por noche como gasto médico por alojamiento. 2012 federal tax forms 1040 No se incluyen comidas. 2012 federal tax forms 1040 Hogar de ancianos y de convalecencia. 2012 federal tax forms 1040   Puede incluir en los gastos médicos el costo del cuidado médico en un hogar de ancianos y de convalecencia, residencia de ancianos o un centro similar para usted, su cónyuge o sus dependientes. 2012 federal tax forms 1040 Esto incluye el costo de comidas y alojamiento en el hogar o residencia si un motivo principal para estar allí es recibir cuidado médico. 2012 federal tax forms 1040   No incluya el costo de comidas y alojamiento si el motivo para estar en el hogar o residencia es personal. 2012 federal tax forms 1040 Puede, sin embargo, incluir en los gastos médicos la parte del costo que corresponda al cuidado médico o de convalecencia. 2012 federal tax forms 1040 Transporte Incluya en los gastos médicos cantidades pagadas por transporte si es principal y esencialmente para fines de cuidados médicos. 2012 federal tax forms 1040 Puede incluir: Tarifas de autobús, taxi, tren o avión o servicios de ambulancia, Gastos de transporte de un padre o una madre que tiene que acompañar a un hijo que necesita cuidado médico, Gastos de transporte de una enfermera u otra persona que pueda poner inyecciones, suministrar medicamentos u otro tratamiento necesario para un paciente que viaje para recibir cuidado médico y que no pueda viajar solo y Gastos de transporte por visitas regulares a un dependiente que tenga una enfermedad mental, si dichas visitas son recomendadas como parte de su tratamiento. 2012 federal tax forms 1040 Gastos de automóvil. 2012 federal tax forms 1040   Puede incluir gastos de bolsillo, tal como el costo de gasolina y aceite, cuando use su automóvil por razones médicas. 2012 federal tax forms 1040 No puede incluir depreciación, seguro, reparaciones generales ni gastos de mantenimiento. 2012 federal tax forms 1040   Si no desea usar los gastos reales para el año 2013, puede usar una tarifa estándar de 24 centavos. 2012 federal tax forms 1040    También, puede incluir cargos por estacionamiento y peaje. 2012 federal tax forms 1040 Puede añadir estos cargos a sus gastos médicos independientemente de si usa los gastos reales o la tarifa estándar por milla. 2012 federal tax forms 1040 Ejemplo. 2012 federal tax forms 1040 En 2013, Guillermo Martínez manejó 2,800 millas por razones médicas. 2012 federal tax forms 1040 Gastó $500 en gasolina, $30 en aceite y $100 en peajes y estacionamiento. 2012 federal tax forms 1040 Quiere calcular la cantidad que puede incluir en gastos médicos de ambas maneras para ver cuál de las dos le da la mayor deducción. 2012 federal tax forms 1040 Calcula primero los gastos reales. 2012 federal tax forms 1040 Suma los $500 por gasolina, $30 por aceite y $100 por peaje y estacionamiento, lo que da un total de $630. 2012 federal tax forms 1040 Luego, Guillermo calcula la cantidad de la tarifa estándar por milla. 2012 federal tax forms 1040 Multiplica las 2,800 millas por 24 centavos por milla y llega a un total de $672. 2012 federal tax forms 1040 Luego, añade los $100 por peaje y estacionamiento, lo que da un total de $772. 2012 federal tax forms 1040 Guillermo incluye los gastos de automóvil de $772 con sus demás gastos médicos para el año, ya que $772 es más que los $630 que calculó usando sus gastos reales. 2012 federal tax forms 1040 Gastos de transporte que no puede incluir. 2012 federal tax forms 1040   No puede incluir en los gastos médicos el costo de los gastos de transporte en las siguientes situaciones: Ida y vuelta del trabajo, aun si su condición exije un medio de transporte poco común. 2012 federal tax forms 1040 Viajes por motivos puramente personales a otra ciudad para una operación u otros cuidados médicos. 2012 federal tax forms 1040 Viajes que son únicamente para mejorar la salud en general. 2012 federal tax forms 1040 Los costos de operar un automóvil especialmente equipado por motivos que no sean médicos. 2012 federal tax forms 1040 Gastos del Cuidado de un Dependiente Incapacitado Algunos gastos de cuidado de un dependiente incapacitado podrían reunir los requisitos para ser: Gastos médicos o Gastos relacionados con el empleo para reclamar un crédito por el cuidado de dependientes. 2012 federal tax forms 1040 (Vea el capítulo 32 y la Publicación 503, Child and Dependent Care Expenses (Gastos del cuidado de menores y dependientes), en inglés). 2012 federal tax forms 1040 Puede escoger aplicarlos de una u otra manera siempre que no use los mismos gastos para reclamar tanto un crédito como una deducción por gastos médicos. 2012 federal tax forms 1040 ¿Cómo se Tratan los Reembolsos? Puede incluir en los gastos médicos únicamente las cantidades pagadas durante el año tributario para las cuales no recibió ningún reembolso de seguros ni de otro tipo. 2012 federal tax forms 1040 Reembolso de Seguros Tiene que deducir del total de sus gastos médicos incurridos durante el año todos los reembolsos de gastos médicos que reciba de seguros u otras fuentes a lo largo del año. 2012 federal tax forms 1040 Esto incluye los pagos de Medicare. 2012 federal tax forms 1040 Aun si una póliza provee reembolso sólo por ciertos gastos médicos específicos, tiene que restar las cantidades que reciba de esa póliza del total de sus gastos médicos, incluyendo aquéllos que dicha póliza no reembolsa. 2012 federal tax forms 1040 Ejemplo. 2012 federal tax forms 1040 Usted tiene pólizas de seguros que cubren sus facturas de hospital y de médicos pero no sus facturas de cuidados de enfermería. 2012 federal tax forms 1040 El pago que recibe del seguro para cubrir las facturas del hospital y de médico es superior a lo que le cobraron. 2012 federal tax forms 1040 Al calcular su deducción médica, tiene que deducir de la cantidad total que gastó en cuidados médicos la cantidad total que recibió del seguro aun si las pólizas no cubren algunos de sus gastos médicos. 2012 federal tax forms 1040 Plan (arreglo) de reembolso de gastos médicos. 2012 federal tax forms 1040   Un plan (arreglo) de reembolsos médicos (HRA, por sus siglas en inglés) es un plan establecido con fondos del empleador que reembolsa gastos de cuidados médicos a los empleados y permite trasladar al año siguiente cantidades no usadas. 2012 federal tax forms 1040 Un plan HRA es financiado sólo por el empleador y los reembolsos por gastos médicos (hasta una cantidad máxima de dinero por período de cobertura) no se incluyen en sus ingresos. 2012 federal tax forms 1040 Otros reembolsos. 2012 federal tax forms 1040   Por lo general, no se deduce de los gastos médicos la cantidad de los pagos que recibe por concepto de: La pérdida permanente o la pérdida del uso de un miembro o función del cuerpo (pérdida de una extremidad, vista, oído, etc. 2012 federal tax forms 1040 ) o la desfiguración, siempre y cuando el pago se base en la naturaleza de la lesión, independientemente de cuánto tiempo esté ausente del trabajo o La pérdida de ingresos. 2012 federal tax forms 1040   Sin embargo, tiene que deducir de sus gastos médicos la parte de esos pagos que esté destinada a costos médicos. 2012 federal tax forms 1040 Vea Cómo Calcular y Reclamar la Deducción en su Declaración de Impuestos , más adelante. 2012 federal tax forms 1040   Para saber cómo tratar las indemnizaciones recibidas por lesiones personales o enfermedad, vea Indemnizaciones por Lesiones Personales , más adelante. 2012 federal tax forms 1040 No tiene una deducción médica si se le reembolsan todos sus gastos médicos del año. 2012 federal tax forms 1040 Reembolso en exceso. 2012 federal tax forms 1040   Si se le reembolsa más de sus gastos médicos, podría verse obligado a incluir el excedente en los ingresos. 2012 federal tax forms 1040 Puede utilizar la Figura 21-A como guía para decidir si alguna parte de su reembolso está sujeta a impuestos. 2012 federal tax forms 1040 Primas pagadas por usted. 2012 federal tax forms 1040   Tiene un reembolso en exceso si paga la totalidad de la prima de su seguro médico, o todos los costos de un plan similar, y los pagos de seguro u otros reembolsos son mayores al total de los gastos médicos del año. 2012 federal tax forms 1040 Generalmente no se incluye un reembolso en exceso en el ingreso bruto. 2012 federal tax forms 1040 Primas pagadas por usted y su empleador. 2012 federal tax forms 1040   Si tanto usted como su empleador contribuyen a su plan de seguro médico y las aportaciones de su empleador no están incluidas en su ingreso bruto, tiene que incluir en su ingreso bruto la parte del reembolso en exceso contribuida por su empleador. 2012 federal tax forms 1040   Vea la Publicación 502, en inglés, para calcular el monto del reembolso en exceso que tiene que incluir en su ingreso bruto. 2012 federal tax forms 1040 Reembolso en un año posterior. 2012 federal tax forms 1040   Si se le reembolsan en un año posterior los gastos médicos que dedujo en un año anterior, normalmente tiene que declarar el reembolso como ingreso hasta la cantidad que dedujo anteriormente por gastos médicos. 2012 federal tax forms 1040   No obstante, no declare como ingresos el reembolso que recibió, hasta la cantidad de deducciones médicas que no redujeron su impuesto del año anterior. 2012 federal tax forms 1040 Para más información sobre la recuperación de una cantidad que declaró como deducción detallada en un año anterior, vea Recuperaciones de Deducciones Detalladas , en el capítulo 12. 2012 federal tax forms 1040    Figura 21-A. 2012 federal tax forms 1040 ¿Es Tributable su Reembolso Médico en Exceso? Please click here for the text description of the image. 2012 federal tax forms 1040 Figura 21−A. 2012 federal tax forms 1040 ¿Es Tributable su Reembolso Médico en Exceso? Gastos médicos no deducidos. 2012 federal tax forms 1040   Si no dedujo un gasto médico en el año en que lo pagó porque sus gastos médicos no fueron más del 10% de su ingreso bruto ajustado (7. 2012 federal tax forms 1040 5% si usted o su cónyuge tiene 65 años de edad o más) o porque no detalló las deducciones, no incluya en sus ingresos el reembolso hasta el máximo de la cantidad del gasto. 2012 federal tax forms 1040 No obstante, si el reembolso es mayor que el gasto, vea Reembolso en exceso , anteriormente. 2012 federal tax forms 1040 Ejemplo. 2012 federal tax forms 1040 En 2013, usted no estuvo casado, era menor de 65 años de edad y tuvo gastos médicos de $500. 2012 federal tax forms 1040 No puede deducir los $500 porque es menos del 10% de su ingreso bruto ajustado. 2012 federal tax forms 1040 Si, en un año posterior, se le reembolsa alguna parte de los $500 en gastos médicos, entonces usted no incluye esa cantidad en su ingreso bruto. 2012 federal tax forms 1040 Indemnizaciones por Lesiones Personales Si recibe una indemnización en una demanda por lesiones personales, parte de esa indemnización podría corresponder a gastos médicos que dedujo en un año anterior. 2012 federal tax forms 1040 De ser así, tiene que incluir esa parte en sus ingresos del año en el que la recibe en la medida en que dicha cantidad redujo sus ingresos tributables en el año anterior. 2012 federal tax forms 1040 Vea Reembolso en un año posterior , presentado anteriormente bajo ¿Cómo se Tratan los Reembolsos? Gastos médicos futuros. 2012 federal tax forms 1040   Si recibe una indemnización por lesiones personales en una demanda por daños y perjuicios, parte de dicha indemnización podría estar destinada a futuros gastos médicos. 2012 federal tax forms 1040 De ser así, tiene que reducir todos los gastos médicos futuros en los que incurra por esas lesiones hasta que se agote la cantidad que recibió. 2012 federal tax forms 1040 Cómo Calcular y Reclamar la Deducción en su Declaración de Impuestos Una vez que haya determinado qué gastos médicos puede incluir, calcule y declare la deducción en su declaración de impuestos. 2012 federal tax forms 1040 ¿Qué Formulario Debe Usar para la Declaración? Calcule la deducción por gastos médicos en el Anexo A (Formulario 1040). 2012 federal tax forms 1040 No puede declarar gastos médicos en el Formulario 1040A ni en el Formulario 1040EZ. 2012 federal tax forms 1040 Si necesita más información sobre las deducciones detalladas o no está seguro de poder detallar sus deducciones, vea el capítulo 20 de esta publicación. 2012 federal tax forms 1040 Anote la cantidad que pagó por gastos médicos y dentales en el Anexo A (Formulario 1040). 2012 federal tax forms 1040 Esta cantidad debería ser los gastos que no fueron reembolsados por seguros o alguna otra fuente. 2012 federal tax forms 1040 Por lo general, puede deducir únicamente la cantidad de sus gastos médicos y dentales que sea más del 10% de su ingreso bruto ajustado (7. 2012 federal tax forms 1040 5% si usted o su cónyuge tiene 65 años de edad o más), el cual se encuentra en la línea 38 del Formulario 1040. 2012 federal tax forms 1040 Gastos de Trabajo Relacionados con un Impedimento Si usted es una persona con una discapacidad, puede tomar una deducción de gastos de negocio que sean necesarios para poder trabajar. 2012 federal tax forms 1040 Si toma una deducción de estos gastos de negocio relacionados con un impedimento, no reclame una deducción médica por los mismos gastos. 2012 federal tax forms 1040 Usted tiene una discapacidad si tiene: Una discapacidad física o mental (por ejemplo, ceguera o sordera) que lo limite funcionalmente para trabajar o Un impedimento físico o mental (por ejemplo, un impedimento de la vista o del oído) que limita considerablemente una o más de las actividades importantes de su vida, como llevar a cabo tareas manuales, caminar, hablar, respirar, aprender o trabajar. 2012 federal tax forms 1040 Definición de gastos de trabajo relacionados con un impedimento. 2012 federal tax forms 1040   Los “gastos de trabajo relacionados con un impedimento” son los gastos de negocio habituales y necesarios que: Son necesarios para que usted haga su trabajo de modo satisfactorio, Son para bienes y servicios que no se exigen ni se usan, salvo de manera imprevista, en sus actividades personales y No están cubiertos por otras leyes que rigen el impuesto sobre el ingreso. 2012 federal tax forms 1040 Dónde se anota la deducción. 2012 federal tax forms 1040   Si trabaja por cuenta propia, deduzca los gastos de negocio en el formulario correspondiente (Anexo C, C-EZ, E o F) para declarar ingresos y gastos de negocio. 2012 federal tax forms 1040   Si es empleado, llene el Formulario 2106, Employee Business Expenses (Gastos de negocio del empleado), o el Formulario 2106-EZ, Unreimbursed Employee Business Expenses (Gastos de negocio del empleado no reembolsados), ambos en inglés. 2012 federal tax forms 1040 Anote en el Anexo A (Formulario 1040) la parte de la cantidad del Formulario 2106, o el Formulario 2106-EZ, relacionada con su impedimento. 2012 federal tax forms 1040 Anote la cantidad que no esté relacionada con su impedimento en el Anexo A (Formulario 1040). 2012 federal tax forms 1040 Los gastos de trabajo relacionados con un impedimento no están sujetos al límite del 2% del ingreso bruto ajustado que corresponde a otros gastos de negocio del empleado. 2012 federal tax forms 1040 Ejemplo. 2012 federal tax forms 1040 Usted es ciego. 2012 federal tax forms 1040 Necesita un lector para realizar su trabajo. 2012 federal tax forms 1040 Tiene que servirse del lector tanto durante sus horas normales de trabajo en su lugar de trabajo como fuera de dicho lugar y horario. 2012 federal tax forms 1040 Los servicios del lector son únicamente para su trabajo. 2012 federal tax forms 1040 Puede deducir sus gastos por los servicios del lector como gastos de negocio. 2012 federal tax forms 1040 Costos del Seguro Médico para Personas que Trabajan por Cuenta Propia Si usted trabajó por cuenta propia y tuvo una utilidad neta ese año, es posible que pueda deducir, como un ajuste a sus ingresos, las cantidades pagadas por seguro médico y seguro de cuidado a largo plazo calificado para usted, su cónyuge, sus dependientes y sus hijos menores de 27 años de edad a finales del año 2013. 2012 federal tax forms 1040 Para ese fin, se considera que trabajó por cuenta propia si fue socio general (o socio en una sociedad limitada y recibía pagos garantizados) o recibió un salario de una sociedad anónima de tipo S en la que tenía una participación como accionista de más del 2%. 2012 federal tax forms 1040 El plan de seguros debe estar a nombre de su ocupación o negocio y la deducción no puede ser mayor que su ingreso del trabajo procedente de dicha ocupación o negocio. 2012 federal tax forms 1040 No puede deducir pagos por seguro médico por ningún mes en el que haya cumplido los requisitos para participar en algún plan de salud subvencionado por su empleador, el empleador de su cónyuge o el empleador de su dependiente o de su hijo menor de 27 años de edad a finales del año 2013. 2012 federal tax forms 1040 No puede deducir pagos por un contrato de cuidados a largo plazo en ningún mes en el que haya cumplido los requisitos para participar en algún plan de seguro por cuidados a largo plazo subvencionado por su empleador o el empleador de su cónyuge. 2012 federal tax forms 1040 Si reúne los requisitos para reclamar la deducción, use la Self-Employed Health Insurance Deduction Worksheet (Hoja de trabajo para deducciones del seguro médico para personas que trabajan por cuenta propia) de las Instrucciones del Formulario 1040, en inglés, para calcular la cantidad que puede deducir. 2012 federal tax forms 1040 Pero si corresponde alguno de los siguientes puntos, no use dicha hoja de trabajo: Tuvo más de una fuente de ingresos sujeta al impuesto sobre el trabajo por cuenta propia. 2012 federal tax forms 1040 Presenta el Formulario 2555, Foreign Earned Income (Ingreso devengado en el extranjero) o el Formulario 2555-EZ, Foreign Earned Income Exclusion (Exclusión de ingreso devengado en el extranjero), ambos en inglés. 2012 federal tax forms 1040 Calcula la deducción usando cantidades pagadas por un seguro de cuidados a largo plazo calificado. 2012 federal tax forms 1040 Si no puede usar la hoja de trabajo de las Instrucciones del Formulario 1040, use la hoja de trabajo de la Publicación 535, Business Expenses (Gastos de negocio), en inglés, para calcular su deducción. 2012 federal tax forms 1040 Nota: Al calcular la cantidad que puede deducir por primas de seguros, no incluya ningún pago adelantado que aparezca en el Formulario 1099-H, Health Coverage Tax Credit (HCTC) Advance Payments (Pagos adelantados del crédito tributario por cobertura de seguro médico (HCTC, por sus siglas en inglés)). 2012 federal tax forms 1040 Asimismo, si reclama el crédito tributario por cobertura de seguro médico, reste la cantidad que aparece en el Formulario 8885, en inglés, del total de las primas de seguros que pagó. 2012 federal tax forms 1040 No incluya cantidades pagadas por cobertura de seguro médico si dichas cantidades se pagaron con distribuciones de un plan de jubilación que estaban exentas de impuestos porque usted es funcionario de seguridad pública jubilado. 2012 federal tax forms 1040 Dónde se anota la deducción. 2012 federal tax forms 1040    Haga esta deducción en el Formulario 1040. 2012 federal tax forms 1040 Si detalla sus deducciones y no declara en el Formulario 1040 el 100% de su seguro médico para personas que trabajan por cuenta propia, generalmente puede incluir las demás primas con todos los demás gastos médicos en el Anexo A (Formulario 1040), sujetos al límite del 10% (7. 2012 federal tax forms 1040 5% si usted o su cónyuge tiene 65 años de edad o más). 2012 federal tax forms 1040 Vea el tema titulado “Self-Employed Health Insurance Deduction” (Deducción del seguro de salud de la persona que trabaja por cuenta propia), en el capítulo 6 de la Publicación 535, Business Expenses (Gastos de negocio), y el tema titulado “Medical and Dental Expenses” (Gastos médicos y dentales), en las Instrucciones para el Anexo A (Formulario 1040), ambos disponibles en inglés, para más información. 2012 federal tax forms 1040 Prev  Up  Next   Home   More Online Publications
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Tax Relief for Victims of Severe Storms, Tornadoes and Flooding in Mississippi

Updated 3/5/2013 to include Greene and Perry counties.

Updated 3/4/2013 to include Jefferson Davis county.

Updated 2/19/2013 to include Marion and Wayne counties.

LA-MS-2013-01, Feb. 14, 2013

NEW ORLEANS — Victims of the severe storms, tornadoes and flooding that took place on Feb. 10, 2013 in parts of Mississippi may qualify for tax relief from the Internal Revenue Service.

The President has declared Forrest, Greene, Jefferson Davis, Lamar, Marion, Perry and Wayne counties a federal disaster area. 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 Feb. 10, and on or before April 30, have been postponed to April 30, 2013. This includes the April 15 deadline for filing 2012 individual income tax returns, making income tax payments and making 2012 contributions to an individual retirement account (IRA).  

In addition, the IRS is waiving the failure-to-deposit penalties for employment and excise tax deposits due on or after Feb. 10, and on or before Feb. 27, as long as the deposits are made by Feb. 27, 2013.

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 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 April 30 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 Feb. 10 and on or before April 30.

The IRS also gives affected taxpayers until April 30 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 Feb. 10 and on or before April 30.

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 Feb. 10 and on or before Feb. 27 provided the taxpayer makes these deposits by Feb. 27.

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 “Mississippi/Severe Storms, Tornadoes, and Flooding” 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 800-TAX-FORM (800-829-3676). The IRS toll-free number for general tax questions is 800-829-1040.

Related Information

Page Last Reviewed or Updated: 04-Feb-2014

The 2012 Federal Tax Forms 1040

2012 federal tax forms 1040 2. 2012 federal tax forms 1040   Taxable and Nontaxable Income Table of Contents Compensation for Services Retirement Plan DistributionsIndividual Retirement Arrangements (IRAs) Pensions and Annuities Social Security and Equivalent Railroad Retirement BenefitsAre Any of Your Benefits Taxable? How Much Is Taxable? How To Report Your Benefits Lump-Sum Election Repayments More Than Gross Benefits Sickness and Injury BenefitsDisability Pensions Long-Term Care Insurance Contracts Workers' Compensation Other Sickness and Injury Benefits Life Insurance ProceedsInstallments for life. 2012 federal tax forms 1040 Surviving spouse. 2012 federal tax forms 1040 Endowment Contract Proceeds Accelerated Death Benefits Sale of HomeMaximum Amount of Exclusion Ownership and Use Tests Married Persons Business Use or Rental of Home Reporting the Sale Reverse Mortgages Other ItemsWelfare benefits. 2012 federal tax forms 1040 Payments from a state fund for victims of crime. 2012 federal tax forms 1040 Home Affordable Modification Program (HAMP). 2012 federal tax forms 1040 Mortgage assistance payments. 2012 federal tax forms 1040 Payments to reduce cost of winter energy use. 2012 federal tax forms 1040 Nutrition Program for the Elderly. 2012 federal tax forms 1040 Reemployment Trade Adjustment Assistance (RTAA). 2012 federal tax forms 1040 Generally, income is taxable unless it is specifically exempt (not taxed) by law. 2012 federal tax forms 1040 Your taxable income may include compensation for services, interest, dividends, rents, royalties, income from partnerships, estate or trust income, gain from sales or exchanges of property, and business income of all kinds. 2012 federal tax forms 1040 Under special provisions of the law, certain items are partially or fully exempt from tax. 2012 federal tax forms 1040 Provisions that are of special interest to older taxpayers are discussed in this chapter. 2012 federal tax forms 1040 Compensation for Services Generally, you must include in gross income everything you receive in payment for personal services. 2012 federal tax forms 1040 In addition to wages, salaries, commissions, fees, and tips, this includes other forms of compensation such as fringe benefits and stock options. 2012 federal tax forms 1040 You need not receive the compensation in cash for it to be taxable. 2012 federal tax forms 1040 Payments you receive in the form of goods or services generally must be included in gross income at their fair market value. 2012 federal tax forms 1040 Volunteer work. 2012 federal tax forms 1040   Do not include in your gross income amounts you receive for supportive services or reimbursements for out-of-pocket expenses under any of the following volunteer programs. 2012 federal tax forms 1040 Retired Senior Volunteer Program (RSVP). 2012 federal tax forms 1040 Foster Grandparent Program. 2012 federal tax forms 1040 Senior Companion Program. 2012 federal tax forms 1040 Service Corps of Retired Executives (SCORE). 2012 federal tax forms 1040 Unemployment compensation. 2012 federal tax forms 1040   You must include in income all unemployment compensation you or your spouse (if married filing jointly) received. 2012 federal tax forms 1040 More information. 2012 federal tax forms 1040   See Publication 525, Taxable and Nontaxable Income, for more detailed information on specific types of income. 2012 federal tax forms 1040 Retirement Plan Distributions This section summarizes the tax treatment of amounts you receive from traditional individual retirement arrangements (IRA), employee pensions or annuities, and disability pensions or annuities. 2012 federal tax forms 1040 A traditional IRA is any IRA that is not a Roth or SIMPLE IRA. 2012 federal tax forms 1040 A Roth IRA is an individual retirement plan that can be either an account or an annuity and features nondeductible contributions and tax-free distributions. 2012 federal tax forms 1040 A SIMPLE IRA is a tax-favored retirement plan that certain small employers (including self-employed individuals) can set up for the benefit of their employees. 2012 federal tax forms 1040 More detailed information can be found in Publication 590, Individual Retirement Arrangements (IRAs), and Publication 575, Pension and Annuity Income. 2012 federal tax forms 1040 Individual Retirement Arrangements (IRAs) In general, distributions from a traditional IRA are taxable in the year you receive them. 2012 federal tax forms 1040 Exceptions to the general rule are rollovers, tax-free withdrawals of contributions, and the return of nondeductible contributions. 2012 federal tax forms 1040 These are discussed in Publication 590. 2012 federal tax forms 1040 If you made nondeductible contributions to a traditional IRA, you must file Form 8606, Nondeductible IRAs. 2012 federal tax forms 1040 If you do not file Form 8606 with your return, you may have to pay a $50 penalty. 2012 federal tax forms 1040 Also, when you receive distributions from your traditional IRA, the amounts will be taxed unless you can show, with satisfactory evidence, that nondeductible contributions were made. 2012 federal tax forms 1040 Early distributions. 2012 federal tax forms 1040   Generally, early distributions are amounts distributed from your traditional IRA account or annuity before you are age 59½, or amounts you receive when you cash in retirement bonds before you are age  59½. 2012 federal tax forms 1040 You must include early distributions of taxable amounts in your gross income. 2012 federal tax forms 1040 These taxable amounts are also subject to an additional 10% tax unless the distribution qualifies for an exception. 2012 federal tax forms 1040 For purposes of the additional 10% tax, an IRA is a qualified retirement plan. 2012 federal tax forms 1040 For more information about this tax, see Tax on Early Distributions under Pensions and Annuities, later. 2012 federal tax forms 1040 After age 59½ and before age 70½. 2012 federal tax forms 1040   After you reach age 59½, you can receive distributions from your traditional IRA without having to pay the 10% additional tax. 2012 federal tax forms 1040 Even though you can receive distributions after you reach age 59½, distributions are not required until you reach  age 70½. 2012 federal tax forms 1040 Required distributions. 2012 federal tax forms 1040   If you are the owner of a traditional IRA, you generally must receive the entire balance in your IRA or start receiving periodic distributions from your IRA by April 1 of the year following the year in which you reach age 70½. 2012 federal tax forms 1040 See When Must You Withdraw Assets? (Required Minimum Distributions) in Publication 590. 2012 federal tax forms 1040 If distributions from your traditional IRA(s) are less than the required minimum distribution for the year, you may have to pay a 50% excise tax for that year on the amount not distributed as required. 2012 federal tax forms 1040 For purposes of the 50% excise tax, an IRA is a qualified retirement plan. 2012 federal tax forms 1040 For more information about this tax, see Tax on Excess Accumulation under Pensions and Annuities, later. 2012 federal tax forms 1040 See also Excess Accumulations (Insufficient Distributions) in Publication 590. 2012 federal tax forms 1040 Pensions and Annuities Generally, if you did not pay any part of the cost of your employee pension or annuity, and your employer did not withhold part of the cost of the contract from your pay while you worked, the amounts you receive each year are fully taxable. 2012 federal tax forms 1040 However, see Insurance Premiums for Retired Public Safety Officers , later. 2012 federal tax forms 1040 If you paid part of the cost of your pension or annuity plan (see Cost , later), you can exclude part of each annuity payment from income as a recovery of your cost (investment in the contract). 2012 federal tax forms 1040 This tax-free part of the payment is figured when your annuity starts and remains the same each year, even if the amount of the payment changes. 2012 federal tax forms 1040 The rest of each payment is taxable. 2012 federal tax forms 1040 However, see Insurance Premiums for Retired Public Safety Officers , later. 2012 federal tax forms 1040 You figure the tax-free part of the payment using one of the following methods. 2012 federal tax forms 1040 Simplified Method. 2012 federal tax forms 1040 You generally must use this method if your annuity is paid under a qualified plan (a qualified employee plan, a qualified employee annuity, or a tax-sheltered annuity plan or contract). 2012 federal tax forms 1040 You cannot use this method if your annuity is paid under a nonqualified plan. 2012 federal tax forms 1040 General Rule. 2012 federal tax forms 1040 You must use this method if your annuity is paid under a nonqualified plan. 2012 federal tax forms 1040 You generally cannot use this method if your annuity is paid under a qualified plan. 2012 federal tax forms 1040 Contact your employer or plan administrator to find out if your pension or annuity is paid under a qualified or nonqualified plan. 2012 federal tax forms 1040 You determine which method to use when you first begin receiving your annuity, and you continue using it each year that you recover part of your cost. 2012 federal tax forms 1040 Exclusion limit. 2012 federal tax forms 1040   If your annuity starting date is after 1986, the total amount of annuity income you can exclude over the years as a recovery of the cost cannot exceed your total cost. 2012 federal tax forms 1040 Any unrecovered cost at your (or the last annuitant's) death is allowed as a miscellaneous itemized deduction on the final return of the decedent. 2012 federal tax forms 1040 This deduction is not subject to the 2%-of-adjusted-gross-income limit on miscellaneous deductions. 2012 federal tax forms 1040   If you contributed to your pension or annuity and your annuity starting date is before 1987, you can continue to take your monthly exclusion for as long as you receive your annuity. 2012 federal tax forms 1040 If you chose a joint and survivor annuity, your survivor can continue to take the survivor's exclusion figured as of the annuity starting date. 2012 federal tax forms 1040 The total exclusion may be more than your cost. 2012 federal tax forms 1040 Cost. 2012 federal tax forms 1040   Before you can figure how much, if any, of your pension or annuity benefits are taxable, you must determine your cost in the plan (your investment in the contract). 2012 federal tax forms 1040 Your total cost in the plan includes everything that you paid. 2012 federal tax forms 1040 It also includes amounts your employer contributed that were taxable to you when paid. 2012 federal tax forms 1040 However, see Foreign employment contributions , later. 2012 federal tax forms 1040   From this total cost, subtract any refunded premiums, rebates, dividends, unrepaid loans, or other tax-free amounts you received by the later of the annuity starting date or the date on which you received your first payment. 2012 federal tax forms 1040   The annuity starting date is the later of the first day of the first period for which you received a payment from the plan or the date on which the plan's obligations became fixed. 2012 federal tax forms 1040    The amount of your contributions to the plan may be shown in box 9b of any Form 1099-R, Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. 2012 federal tax forms 1040 , that you receive. 2012 federal tax forms 1040 Foreign employment contributions. 2012 federal tax forms 1040   If you worked abroad, certain amounts your employer paid into your retirement plan that were not includible in your gross income may be considered part of your cost. 2012 federal tax forms 1040 For details, see Foreign employment contributions in Publication 575. 2012 federal tax forms 1040 Withholding. 2012 federal tax forms 1040   The payer of your pension, profit-sharing, stock bonus, annuity, or deferred compensation plan will withhold income tax on the taxable part of amounts paid to you. 2012 federal tax forms 1040 However, you can choose not to have tax withheld on the payments you receive, unless they are eligible rollover distributions. 2012 federal tax forms 1040 (These are distributions that are eligible for rollover treatment but are not paid directly to another qualified retirement plan or to a traditional IRA. 2012 federal tax forms 1040 ) See Withholding Tax and Estimated Tax and Rollovers in Publication 575 for more information. 2012 federal tax forms 1040   For payments other than eligible rollover distributions, you can tell the payer how much to withhold by filing a Form W-4P, Withholding Certificate for Pension or Annuity Payments. 2012 federal tax forms 1040 Simplified Method. 2012 federal tax forms 1040   Under the Simplified Method, you figure the tax-free part of each annuity payment by dividing your cost by the total number of anticipated monthly payments. 2012 federal tax forms 1040 For an annuity that is payable over the lives of the annuitants, this number is based on the annuitants' ages on the annuity starting date and is determined from a table. 2012 federal tax forms 1040 For any other annuity, this number is the number of monthly annuity payments under the contract. 2012 federal tax forms 1040 Who must use the Simplified Method. 2012 federal tax forms 1040   You must use the Simplified Method if your annuity starting date is after November 18, 1996, and you receive your pension or annuity payments from a qualified plan or annuity, unless you were at least 75 years old and entitled to at least 5 years of guaranteed payments (defined next). 2012 federal tax forms 1040   In addition, if your annuity starting date is after July 1, 1986, and before November 19, 1996, you could have chosen to use the Simplified Method for payments from a qualified plan, unless you were at least 75 years old and entitled to at least 5 years of guaranteed payments. 2012 federal tax forms 1040 If you chose to use the Simplified Method, you must continue to use it each year that you recover part of your cost. 2012 federal tax forms 1040 Guaranteed payments. 2012 federal tax forms 1040   Your annuity contract provides guaranteed payments if a minimum number of payments or a minimum amount (for example, the amount of your investment) is payable even if you and any survivor annuitant do not live to receive the minimum. 2012 federal tax forms 1040 If the minimum amount is less than the total amount of the payments you are to receive, barring death, during the first 5 years after payments begin (figured by ignoring any payment increases), you are entitled to less than 5 years of guaranteed payments. 2012 federal tax forms 1040 Who cannot use the Simplified Method. 2012 federal tax forms 1040   You cannot use the Simplified Method and must use the General Rule if you receive pension or annuity payments from: A nonqualified plan, such as a private annuity, a purchased commercial annuity, or a nonqualified employee plan, or A qualified plan if you are age 75 or older on your annuity starting date and you are entitled to at least 5 years of guaranteed payments (defined above). 2012 federal tax forms 1040   In addition, you had to use the General Rule for either circumstance described above if your annuity starting date is after July 1, 1986, and before November 19, 1996. 2012 federal tax forms 1040 If you did not have to use the General Rule, you could have chosen to use it. 2012 federal tax forms 1040 You also had to use the General Rule for payments from a qualified plan if your annuity starting date is before July 2, 1986, and you did not qualify to use the Three-Year Rule. 2012 federal tax forms 1040   If you had to use the General Rule (or chose to use it), you must continue to use it each year that you recover your cost. 2012 federal tax forms 1040   Unless your annuity starting date was before 1987, once you have recovered all of your non-taxable investment, all of each remaining payment you receive is fully taxable. 2012 federal tax forms 1040 Once your remaining payments are fully taxable, there is no longer a concern with the General Rule or Simplified Method. 2012 federal tax forms 1040   Complete information on the General Rule, including the actuarial tables you need, is contained in Publication 939, General Rule for Pensions and Annuities. 2012 federal tax forms 1040 How to use the Simplified Method. 2012 federal tax forms 1040   Complete the Simplified Method Worksheet in the Form 1040, Form 1040A, or Form 1040NR instructions or in Publication 575 to figure your taxable annuity for 2013. 2012 federal tax forms 1040 Be sure to keep the completed worksheet; it will help you figure your taxable annuity next year. 2012 federal tax forms 1040   To complete line 3 of the worksheet, you must determine the total number of expected monthly payments for your annuity. 2012 federal tax forms 1040 How you do this depends on whether the annuity is for a single life, multiple lives, or a fixed period. 2012 federal tax forms 1040 For this purpose, treat an annuity that is payable over the life of an annuitant as payable for that annuitant's life even if the annuity has a fixed-period feature or also provides a temporary annuity payable to the annuitant's child under age 25. 2012 federal tax forms 1040    You do not need to complete line 3 of the worksheet or make the computation on line 4 if you received annuity payments last year and used last year's worksheet to figure your taxable annuity. 2012 federal tax forms 1040 Instead, enter the amount from line 4 of last year's worksheet on line 4 of this year's worksheet. 2012 federal tax forms 1040 Single-life annuity. 2012 federal tax forms 1040   If your annuity is payable for your life alone, use Table 1 at the bottom of the worksheet to determine the total number of expected monthly payments. 2012 federal tax forms 1040 Enter on line 3 the number shown for your age on your annuity starting date. 2012 federal tax forms 1040 This number will differ depending on whether your annuity starting date is before November 19, 1996, or after November 18, 1996. 2012 federal tax forms 1040 Multiple-lives annuity. 2012 federal tax forms 1040   If your annuity is payable for the lives of more than one annuitant, use Table 2 at the bottom of the worksheet to determine the total number of expected monthly payments. 2012 federal tax forms 1040 Enter on line 3 the number shown for the annuitants' combined ages on the annuity starting date. 2012 federal tax forms 1040 For an annuity payable to you as the primary annuitant and to more than one survivor annuitant, combine your age and the age of the youngest survivor annuitant. 2012 federal tax forms 1040 For an annuity that has no primary annuitant and is payable to you and others as survivor annuitants, combine the ages of the oldest and youngest annuitants. 2012 federal tax forms 1040 Do not treat as a survivor annuitant anyone whose entitlement to payments depends on an event other than the primary annuitant's death. 2012 federal tax forms 1040   However, if your annuity starting date is before 1998, do not use Table 2 and do not combine the annuitants' ages. 2012 federal tax forms 1040 Instead, you must use Table 1 at the bottom of the worksheet and enter on line 3 the number shown for the primary annuitant's age on the annuity starting date. 2012 federal tax forms 1040 This number will differ depending on whether your annuity starting date is before November 19, 1996, or after November 18, 1996. 2012 federal tax forms 1040 Fixed-period annuities. 2012 federal tax forms 1040   If your annuity does not depend in whole or in part on anyone's life expectancy, the total number of expected monthly payments to enter on line 3 of the worksheet is the number of monthly annuity payments under the contract. 2012 federal tax forms 1040 Line 6. 2012 federal tax forms 1040   The amount on line 6 should include all amounts that could have been recovered in prior years. 2012 federal tax forms 1040 If you did not recover an amount in a prior year, you may be able to amend your returns for the affected years. 2012 federal tax forms 1040    Be sure to keep a copy of the completed worksheet; it will help you figure your taxable annuity in later years. 2012 federal tax forms 1040 Example. 2012 federal tax forms 1040 Bill Smith, age 65, began receiving retirement benefits in 2013, under a joint and survivor annuity. 2012 federal tax forms 1040 Bill's annuity starting date is January 1, 2013. 2012 federal tax forms 1040 The benefits are to be paid over the joint lives of Bill and his wife, Kathy, age 65. 2012 federal tax forms 1040 Bill had contributed $31,000 to a qualified plan and had received no distributions before the annuity starting date. 2012 federal tax forms 1040 Bill is to receive a retirement benefit of $1,200 a month, and Kathy is to receive a monthly survivor benefit of $600 upon Bill's death. 2012 federal tax forms 1040 Bill must use the Simplified Method to figure his taxable annuity because his payments are from a qualified plan and he is under age 75. 2012 federal tax forms 1040 See the illustrated Worksheet 2-A, Simplified Method Worksheet, later. 2012 federal tax forms 1040 You can find a blank version of this worksheet in Publication 575. 2012 federal tax forms 1040 (The references in the illustrated worksheet are to sections in Publication 575). 2012 federal tax forms 1040 His annuity is payable over the lives of more than one annuitant, so Bill uses his and Kathy's combined ages, 130 (65 + 65), and Table 2 at the bottom of the worksheet in completing line 3 of the worksheet and finds the line 3 amount to be 310. 2012 federal tax forms 1040 Bill's tax-free monthly amount is $100 ($31,000 ÷ 310 as shown on line 4 of the worksheet). 2012 federal tax forms 1040 Upon Bill's death, if Bill has not recovered the full $31,000 investment, Kathy will also exclude $100 from her $600 monthly payment. 2012 federal tax forms 1040 The full amount of any annuity payments received after 310 payments are paid must generally be included in gross income. 2012 federal tax forms 1040 If Bill and Kathy die before 310 payments are made, a miscellaneous itemized deduction will be allowed for the unrecovered cost on the final income tax return of the last to die. 2012 federal tax forms 1040 This deduction is not subject to the 2%-of-adjusted-gross-income limit. 2012 federal tax forms 1040 Worksheet 2-A. 2012 federal tax forms 1040 Simplified Method Worksheet—Illustrated 1. 2012 federal tax forms 1040 Enter the total pension or annuity payments received this year. 2012 federal tax forms 1040 Also, add this amount to the total for Form 1040, line 16a; Form 1040A, line 12a; or Form 1040NR, line 17a 1. 2012 federal tax forms 1040 $ 14,400 2. 2012 federal tax forms 1040 Enter your cost in the plan (contract) at the annuity starting date plus any death benefit exclusion* See Cost (Investment in the Contract), earlier 2. 2012 federal tax forms 1040 31,000   Note. 2012 federal tax forms 1040 If your annuity starting date was before this year and you completed this worksheet last year, skip line 3 and enter the amount from line 4 of last year's worksheet on line 4 below (even if the amount of your pension or annuity has changed). 2012 federal tax forms 1040 Otherwise, go to line 3. 2012 federal tax forms 1040     3. 2012 federal tax forms 1040 Enter the appropriate number from Table 1 below. 2012 federal tax forms 1040 But if your annuity starting date was after 1997 and the payments are for your life and that of your beneficiary, enter the appropriate number from Table 2 below 3. 2012 federal tax forms 1040 310 4. 2012 federal tax forms 1040 Divide line 2 by the number on line 3 4. 2012 federal tax forms 1040 100 5. 2012 federal tax forms 1040 Multiply line 4 by the number of months for which this year's payments were made. 2012 federal tax forms 1040 If your annuity starting date was before 1987, enter this amount on line 8 below and skip lines 6, 7, 10, and 11. 2012 federal tax forms 1040 Otherwise, go to line 6 5. 2012 federal tax forms 1040 1,200 6. 2012 federal tax forms 1040 Enter any amount previously recovered tax free in years after 1986. 2012 federal tax forms 1040 This is the amount shown on line 10 of your worksheet for last year 6. 2012 federal tax forms 1040 0 7. 2012 federal tax forms 1040 Subtract line 6 from line 2 7. 2012 federal tax forms 1040 31,000 8. 2012 federal tax forms 1040 Enter the smaller of line 5 or line 7 8. 2012 federal tax forms 1040 1,200 9. 2012 federal tax forms 1040 Taxable amount for year. 2012 federal tax forms 1040 Subtract line 8 from line 1. 2012 federal tax forms 1040 Enter the result, but not less than zero. 2012 federal tax forms 1040 Also, add this amount to the total for Form 1040, line 16b; Form 1040A, line 12b; or Form 1040NR, line 17b. 2012 federal tax forms 1040 Note. 2012 federal tax forms 1040 If your Form 1099-R shows a larger taxable amount, use the amount figured on this line instead. 2012 federal tax forms 1040 If you are a retired public safety officer, see Insurance Premiums for Retired Public Safety Officers, earlier, before entering an amount on your tax return. 2012 federal tax forms 1040 9. 2012 federal tax forms 1040 $ 13,200 10. 2012 federal tax forms 1040 Was your annuity starting date before 1987? □ Yes. 2012 federal tax forms 1040 STOP. 2012 federal tax forms 1040 Do not complete the rest of this worksheet. 2012 federal tax forms 1040  ☑ No. 2012 federal tax forms 1040 Add lines 6 and 8. 2012 federal tax forms 1040 This is the amount you have recovered tax free through 2013. 2012 federal tax forms 1040 You will need this number if you need to fill out this worksheet next year. 2012 federal tax forms 1040 10. 2012 federal tax forms 1040 1,200 11. 2012 federal tax forms 1040 Balance of cost to be recovered. 2012 federal tax forms 1040 Subtract line 10 from line 2. 2012 federal tax forms 1040 If zero, you will not have to complete this worksheet next year. 2012 federal tax forms 1040 The payments you receive next year will generally be fully taxable 11. 2012 federal tax forms 1040 $ 29,800 * A death benefit exclusion (up to $5,000) applied to certain benefits received by employees who died before August 21, 1996. 2012 federal tax forms 1040   Table 1 for Line 3 Above       AND your annuity starting date was—   IF your age on your annuity starting date was . 2012 federal tax forms 1040 . 2012 federal tax forms 1040 . 2012 federal tax forms 1040   BEFORE November 19, 1996, enter on line 3 . 2012 federal tax forms 1040 . 2012 federal tax forms 1040 . 2012 federal tax forms 1040 AFTER November 18, 1996, enter on line 3 . 2012 federal tax forms 1040 . 2012 federal tax forms 1040 . 2012 federal tax forms 1040   55 or under 300 360   56-60 260 310   61-65 240 260   66-70 170 210   71 or over 120 160 Table 2 for Line 3 Above   IF the annuitants' combined ages on your annuity starting date were . 2012 federal tax forms 1040 . 2012 federal tax forms 1040 . 2012 federal tax forms 1040   THEN enter on line 3 . 2012 federal tax forms 1040 . 2012 federal tax forms 1040 . 2012 federal tax forms 1040         110 or under   410         111-120   360         121-130   310         131-140   260         141 or over   210       Survivors of retirees. 2012 federal tax forms 1040   Benefits paid to you as a survivor under a joint and survivor annuity must be included in your gross income in the same way the retiree would have included them in gross income. 2012 federal tax forms 1040   If you receive a survivor annuity because of the death of a retiree who had reported the annuity under the Three-Year Rule, include the total received in your income. 2012 federal tax forms 1040 The retiree's cost has already been recovered tax free. 2012 federal tax forms 1040   If the retiree was reporting the annuity payments under the General Rule, you must apply the same exclusion percentage the retiree used to your initial payment called for in the contract. 2012 federal tax forms 1040 The resulting tax-free amount will then remain fixed. 2012 federal tax forms 1040 Any increases in the survivor annuity are fully taxable. 2012 federal tax forms 1040   If the retiree was reporting the annuity payments under the Simplified Method, the part of each payment that is tax free is the same as the tax-free amount figured by the retiree at the annuity starting date. 2012 federal tax forms 1040 See Simplified Method , earlier. 2012 federal tax forms 1040 How to report. 2012 federal tax forms 1040   If you file Form 1040, report your total annuity on line 16a, and the taxable part on line 16b. 2012 federal tax forms 1040 If your pension or annuity is fully taxable, enter it on line 16b. 2012 federal tax forms 1040 Do not make an entry on line 16a. 2012 federal tax forms 1040   If you file Form 1040A, report your total annuity on line 12a, and the taxable part on line 12b. 2012 federal tax forms 1040 If your pension or annuity is fully taxable, enter it on line 12b. 2012 federal tax forms 1040 Do not make an entry on line 12a. 2012 federal tax forms 1040   If you file Form 1040NR, report your total annuity on line 17a, and the taxable part on line 17b. 2012 federal tax forms 1040 If your pension or annuity is fully taxable, enter it on line 17b. 2012 federal tax forms 1040 Do not make an entry on line 17a. 2012 federal tax forms 1040 Example. 2012 federal tax forms 1040 You are a Form 1040 filer and you received monthly payments totaling $1,200 (12 months x $100) during 2013 from a pension plan that was completely financed by your employer. 2012 federal tax forms 1040 You had paid no tax on the payments that your employer made to the plan, and the payments were not used to pay for accident, health, or long-term care insurance premiums (as discussed later under Insurance Premiums for Retired Public Safety Officers ). 2012 federal tax forms 1040 The entire $1,200 is taxable. 2012 federal tax forms 1040 You include $1,200 only on Form 1040, line 16b. 2012 federal tax forms 1040 Joint return. 2012 federal tax forms 1040   If you file a joint return and you and your spouse each receive one or more pensions or annuities, report the total of the pensions and annuities on line 16a of Form 1040, line 12a of Form 1040A, or line 17a of Form 1040NR. 2012 federal tax forms 1040 Report the total of the taxable parts on line 16b of Form 1040, line 12b of Form 1040A, or line 17b of Form 1040NR. 2012 federal tax forms 1040 Form 1099-R. 2012 federal tax forms 1040   You should receive a Form 1099-R for your pension or annuity. 2012 federal tax forms 1040 Form 1099-R shows your pension or annuity for the year and any income tax withheld. 2012 federal tax forms 1040 You should receive a Form W-2 if you receive distributions from certain nonqualified plans. 2012 federal tax forms 1040 You must attach Forms 1099-R or Forms W-2 to your 2013 tax return if federal income tax was withheld. 2012 federal tax forms 1040 Generally, you should be sent these forms by January 31, 2014. 2012 federal tax forms 1040 Nonperiodic Distributions If you receive a nonperiodic distribution from your retirement plan, you may be able to exclude all or part of it from your income as a recovery of your cost. 2012 federal tax forms 1040 Nonperiodic distributions include cash withdrawals, distributions of current earnings (dividends) on your investment, and certain loans. 2012 federal tax forms 1040 For information on how to figure the taxable amount of a nonperiodic distribution, see Taxation of Nonperiodic Payments in Publication 575. 2012 federal tax forms 1040 The taxable part of a nonperiodic distribution may be subject to an additional 10% tax. 2012 federal tax forms 1040 See Tax on Early Distributions, later. 2012 federal tax forms 1040 Lump-sum distributions. 2012 federal tax forms 1040   If you receive a lump-sum distribution from a qualified employee plan or qualified employee annuity and the plan participant was born before January 2, 1936, you may be able to elect optional methods of figuring the tax on the distribution. 2012 federal tax forms 1040 The part from active participation in the plan before 1974 may qualify as capital gain subject to a 20% tax rate. 2012 federal tax forms 1040 The part from participation after 1973 (and any part from participation before 1974 that you do not report as capital gain) is ordinary income. 2012 federal tax forms 1040 You may be able to use the 10-year tax option to figure tax on the ordinary income part. 2012 federal tax forms 1040 Form 1099-R. 2012 federal tax forms 1040   If you receive a total distribution from a plan, you should receive a Form 1099-R. 2012 federal tax forms 1040 If the distribution qualifies as a lump-sum distribution, box 3 shows the capital gain part of the distribution. 2012 federal tax forms 1040 The amount in box 2a, Taxable amount, minus the amount in box 3, Capital gain, is the ordinary income part. 2012 federal tax forms 1040 More information. 2012 federal tax forms 1040   For more detailed information on lump-sum distributions, see Publication 575 or Form 4972, Tax on Lump-Sum Distributions. 2012 federal tax forms 1040 Tax on Early Distributions Most distributions you receive from your qualified retirement plan and nonqualified annuity contracts before you reach age 59½ are subject to an additional tax of 10%. 2012 federal tax forms 1040 The tax applies to the taxable part of the distribution. 2012 federal tax forms 1040 For this purpose, a qualified retirement plan is: A qualified employee plan (including a qualified cash or deferred arrangement (CODA) under Internal Revenue Code section 401(k)), A qualified employee annuity plan, A tax-sheltered annuity plan (403(b) plan), or An eligible state or local government section 457 deferred compensation plan (to the extent that any distribution is attributable to amounts the plan received in a direct transfer or rollover from one of the other plans listed here or an IRA). 2012 federal tax forms 1040  An IRA is also a qualified retirement plan for purposes of this tax. 2012 federal tax forms 1040 General exceptions to tax. 2012 federal tax forms 1040   The early distribution tax does not apply to any distributions that are: Made as part of a series of substantially equal periodic payments (made at least annually) for your life (or life expectancy) or the joint lives (or joint life expectancies) of you and your designated beneficiary (if from a qualified retirement plan, the payments must begin after separation from service), Made because you are totally and permanently disabled, or Made on or after the death of the plan participant or contract holder. 2012 federal tax forms 1040 Additional exceptions. 2012 federal tax forms 1040   There are additional exceptions to the early distribution tax for certain distributions from qualified retirement plans and nonqualified annuity contracts. 2012 federal tax forms 1040 See Publication 575 for details. 2012 federal tax forms 1040 Reporting tax. 2012 federal tax forms 1040   If you owe only the tax on early distributions and distribution code 1 (early distribution, no known exception) is correctly shown in Form 1099-R, box 7, multiply the taxable part of the early distribution by 10% (. 2012 federal tax forms 1040 10) and enter the result on Form 1040, line 58, or Form 1040NR, line 56. 2012 federal tax forms 1040 See the instructions for line 58 of Form 1040 or line 56 of Form 1040NR for more information about reporting the early distribution tax. 2012 federal tax forms 1040 Tax on Excess Accumulation To make sure that most of your retirement benefits are paid to you during your lifetime, rather than to your beneficiaries after your death, the payments that you receive from qualified retirement plans must begin no later than your required beginning date. 2012 federal tax forms 1040 Unless the rule for 5% owners applies, this is generally April 1 of the year that follows the later of: The calendar year in which you reach age 70½, or The calendar year in which you retire from employment with the employer maintaining the plan. 2012 federal tax forms 1040 However, your plan may require you to begin to receive payments by April 1 of the year that follows the year in which you reach 70½, even if you have not retired. 2012 federal tax forms 1040 For this purpose, a qualified retirement plan includes: A qualified employee plan, A qualified employee annuity plan, An eligible section 457 deferred compensation plan, or A tax-sheltered annuity plan (403(b) plan) (for benefits accruing after 1986). 2012 federal tax forms 1040  An IRA is also a qualified retirement plan for purposes of this tax. 2012 federal tax forms 1040 An excess accumulation is the undistributed remainder of the required minimum distribution that was left in your qualified retirement plan. 2012 federal tax forms 1040 5% owners. 2012 federal tax forms 1040   If you own (or are considered to own under section 318 of the Internal Revenue Code) more than 5% of the company maintaining your qualified retirement plan, you must begin to receive distributions from the plan by April 1 of the year after the calendar year in which you reach age 70½. 2012 federal tax forms 1040 See Publication 575 for more information. 2012 federal tax forms 1040 Amount of tax. 2012 federal tax forms 1040   If you do not receive the required minimum distribution, you are subject to an additional tax. 2012 federal tax forms 1040 The tax equals 50% of the difference between the amount that must be distributed and the amount that was distributed during the tax year. 2012 federal tax forms 1040 You can get this excise tax excused if you establish that the shortfall in distributions was due to reasonable error and that you are taking reasonable steps to remedy the shortfall. 2012 federal tax forms 1040 Form 5329. 2012 federal tax forms 1040   You must file a Form 5329 if you owe a tax because you did not receive a minimum required distribution from your qualified retirement plan. 2012 federal tax forms 1040 Additional information. 2012 federal tax forms 1040   For more detailed information on the tax on excess accumulation, see Publication 575. 2012 federal tax forms 1040 Insurance Premiums for Retired Public Safety Officers If you are an eligible retired public safety officer (law enforcement officer, firefighter, chaplain, or member of a rescue squad or ambulance crew), you can elect to exclude from income distributions made from your eligible retirement plan that are used to pay the premiums for accident or health insurance or long-term care insurance. 2012 federal tax forms 1040 The premiums can be for coverage for you, your spouse, or dependent(s). 2012 federal tax forms 1040 The distribution must be made directly from the plan to the insurance provider. 2012 federal tax forms 1040 You can exclude from income the smaller of the amount of the insurance premiums or $3,000. 2012 federal tax forms 1040 You can only make this election for amounts that would otherwise be included in your income. 2012 federal tax forms 1040 The amount excluded from your income cannot be used to claim a medical expense deduction. 2012 federal tax forms 1040 An eligible retirement plan is a governmental plan that is a: Qualified trust, Section 403(a) plan, Section 403(b) annuity, or Section 457(b) plan. 2012 federal tax forms 1040 If you make this election, reduce the otherwise taxable amount of your pension or annuity by the amount excluded. 2012 federal tax forms 1040 The taxable amount shown in box 2a of any Form 1099-R that you receive does not reflect the exclusion. 2012 federal tax forms 1040 Report your total distributions on Form 1040, line 16a; Form 1040A, line 12a; or Form 1040NR, line 17a. 2012 federal tax forms 1040 Report the taxable amount on Form 1040, line 16b; Form 1040A, line 12b; or Form 1040NR, line 17b. 2012 federal tax forms 1040 Enter “PSO” next to the appropriate line on which you report the taxable amount. 2012 federal tax forms 1040 Railroad Retirement Benefits Benefits paid under the Railroad Retirement Act fall into two categories. 2012 federal tax forms 1040 These categories are treated differently for income tax purposes. 2012 federal tax forms 1040 Social security equivalent benefits. 2012 federal tax forms 1040   The first category is the amount of tier 1 railroad retirement benefits that equals the social security benefit that a railroad employee or beneficiary would have been entitled to receive under the social security system. 2012 federal tax forms 1040 This part of the tier 1 benefit is the social security equivalent benefit (SSEB) and is treated for tax purposes like social security benefits. 2012 federal tax forms 1040 (See Social Security and Equivalent Railroad Retirement Benefits , later. 2012 federal tax forms 1040 ) Non-social security equivalent benefits. 2012 federal tax forms 1040   The second category contains the rest of the tier 1 benefits, called the non-social security equivalent benefit (NSSEB). 2012 federal tax forms 1040 It also contains any tier 2 benefit, vested dual benefit (VDB), and supplemental annuity benefit. 2012 federal tax forms 1040 This category of benefits is treated as an amount received from a qualified employee plan. 2012 federal tax forms 1040 This allows for the tax-free (nontaxable) recovery of employee contributions from the tier 2 benefits and the NSSEB part of the tier 1 benefits. 2012 federal tax forms 1040 Vested dual benefits and supplemental annuity benefits are non-contributory pensions and are fully taxable. 2012 federal tax forms 1040 More information. 2012 federal tax forms 1040   For more information about railroad retirement benefits, see Publication 575. 2012 federal tax forms 1040 Military Retirement Pay Military retirement pay based on age or length of service is taxable and must be included in income as a pension on Form 1040, lines 16a and 16b; on Form 1040A, lines 12a and 12b; or on Form 1040NR, lines 17a and 17b. 2012 federal tax forms 1040 But, certain military and government disability pensions that are based on a percentage of disability from active service in the Armed Forces of any country generally are not taxable. 2012 federal tax forms 1040 For more information, including information about veterans' benefits and insurance, see Publication 525. 2012 federal tax forms 1040 Social Security and Equivalent Railroad Retirement Benefits This discussion explains the federal income tax rules for social security benefits and equivalent tier 1 railroad retirement benefits. 2012 federal tax forms 1040 Social security benefits include monthly retirement, survivor, and disability benefits. 2012 federal tax forms 1040 They do not include supplemental security income (SSI) payments, which are not taxable. 2012 federal tax forms 1040 Equivalent tier 1 railroad retirement benefits are the part of tier 1 benefits that a railroad employee or beneficiary would have been entitled to receive under the social security system. 2012 federal tax forms 1040 They commonly are called the social security equivalent benefit (SSEB) portion of tier 1 benefits. 2012 federal tax forms 1040 If you received these benefits during 2013, you should have received a Form SSA-1099 or Form RRB-1099 (Form SSA-1042S or Form RRB-1042S if you are a nonresident alien), showing the amount of the benefits. 2012 federal tax forms 1040 Are Any of Your Benefits Taxable? Note. 2012 federal tax forms 1040 When the term “benefits” is used in this section, it applies to both social security benefits and the SSEB portion of tier 1 railroad retirement benefits. 2012 federal tax forms 1040  To find out whether any of your benefits may be taxable, compare the base amount for your filing status (explained later) with the total of: One-half of your benefits, plus All your other income, including tax-exempt interest. 2012 federal tax forms 1040 When making this comparison, do not reduce your other income by any exclusions for: Interest from qualified U. 2012 federal tax forms 1040 S. 2012 federal tax forms 1040 savings bonds, Employer-provided adoption benefits, Foreign earned income or foreign housing, or Income earned in American Samoa or Puerto Rico by bona fide residents. 2012 federal tax forms 1040 Figuring total income. 2012 federal tax forms 1040   To figure the total of one-half of your benefits plus your other income, use Worksheet 2-B. 2012 federal tax forms 1040 If that total amount is more than your base amount, part of your benefits may be taxable. 2012 federal tax forms 1040 If you are married and file a joint return for 2013, you and your spouse must combine your incomes and your benefits to figure whether any of your combined benefits are taxable. 2012 federal tax forms 1040 Even if your spouse did not receive any benefits, you must add your spouse's income to yours to figure whether any of your benefits are taxable. 2012 federal tax forms 1040 If the only income you received during 2013 was your social security or the SSEB portion of tier 1 railroad retirement benefits, your benefits generally are not taxable and you probably do not have to file a return. 2012 federal tax forms 1040 If you have income in addition to your benefits, you may have to file a return even if none of your benefits are taxable. 2012 federal tax forms 1040 Worksheet 2-B. 2012 federal tax forms 1040 A Quick Way To Check if Your Benefits May Be Taxable A. 2012 federal tax forms 1040 Enter the amount from box 5 of all your Forms SSA-1099 and RRB-1099. 2012 federal tax forms 1040 Include  the full amount of any lump-sum benefit payments received in 2013, for 2013 and  earlier years. 2012 federal tax forms 1040 (If you received more than one form, combine the amounts from box 5  and enter the total. 2012 federal tax forms 1040 ) A. 2012 federal tax forms 1040     Note. 2012 federal tax forms 1040 If the amount on line A is zero or less, stop here; none of your benefits are  taxable this year. 2012 federal tax forms 1040     B. 2012 federal tax forms 1040 Enter one-half of the amount on line A B. 2012 federal tax forms 1040   C. 2012 federal tax forms 1040 Enter your taxable pensions, wages, interest, dividends, and other taxable income C. 2012 federal tax forms 1040   D. 2012 federal tax forms 1040 Enter any tax-exempt interest income (such as interest on municipal bonds) plus any exclusions from income for: •Interest from qualified U. 2012 federal tax forms 1040 S. 2012 federal tax forms 1040 savings bonds, •Employer-provided adoption benefits, •Foreign earned income or foreign housing, or •Income earned in American Samoa or Puerto Rico by bona fide residents D. 2012 federal tax forms 1040   E. 2012 federal tax forms 1040 Add lines B, C, and D and enter the total E. 2012 federal tax forms 1040   F. 2012 federal tax forms 1040 If you are: •Married filing jointly, enter $32,000 •Single, head of household, qualifying widow(er), or married filing separately and you  lived apart from your spouse for all of 2013, enter $25,000 •Married filing separately and you lived with your spouse at any time during 2013,  enter -0- F. 2012 federal tax forms 1040   G. 2012 federal tax forms 1040 Is the amount on line F less than or equal to the amount on line E? □ No. 2012 federal tax forms 1040 None of your benefits are taxable this year. 2012 federal tax forms 1040  □ Yes. 2012 federal tax forms 1040 Some of your benefits may be taxable. 2012 federal tax forms 1040 To figure how much of your benefits  are taxable, see Which worksheet to use under How Much Is Taxable. 2012 federal tax forms 1040     Base Amount Your base amount is: $25,000 if you are single, head of household, or qualifying widow(er) with dependent child, $25,000 if you are married filing separately and lived apart from your spouse for all of 2013, $32,000 if you are married filing jointly, or $0 if you are married filing separately and lived with your spouse at any time during 2013. 2012 federal tax forms 1040 Repayment of Benefits Any repayment of benefits you made during 2013 must be subtracted from the gross benefits you received in 2013. 2012 federal tax forms 1040 It does not matter whether the repayment was for a benefit you received in 2013 or in an earlier year. 2012 federal tax forms 1040 If you repaid more than the gross benefits you received in 2013, see Repayments More Than Gross Benefits , later. 2012 federal tax forms 1040 Your gross benefits are shown in box 3 of Form SSA-1099 or Form RRB-1099. 2012 federal tax forms 1040 Your repayments are shown in box 4. 2012 federal tax forms 1040 The amount in box 5 shows your net benefits for 2013 (box 3 minus box 4). 2012 federal tax forms 1040 Use the amount in box 5 to figure whether any of your benefits are taxable. 2012 federal tax forms 1040 Tax Withholding and Estimated Tax You can choose to have federal income tax withheld from your social security and/or the SSEB portion of your tier 1 railroad retirement benefits. 2012 federal tax forms 1040 If you choose to do this, you must complete a Form W-4V, Voluntary Withholding Request. 2012 federal tax forms 1040 If you do not choose to have income tax withheld, you may have to request additional withholding from other income, or pay estimated tax during the year. 2012 federal tax forms 1040 For details, see Publication 505, Tax Withholding and Estimated Tax, or the instructions for Form 1040-ES, Estimated Tax for Individuals. 2012 federal tax forms 1040 How Much Is Taxable? If part of your benefits is taxable, how much is taxable depends on the total amount of your benefits and other income. 2012 federal tax forms 1040 Generally, the higher that total amount, the greater the taxable part of your benefits. 2012 federal tax forms 1040 Maximum taxable part. 2012 federal tax forms 1040   The taxable part of your benefits usually cannot be more than 50%. 2012 federal tax forms 1040 However, up to 85% of your benefits can be taxable if either of the following situations applies to you. 2012 federal tax forms 1040 The total of one-half of your benefits and all your other income is more than $34,000 ($44,000 if you are married filing jointly). 2012 federal tax forms 1040 You are married filing separately and lived with your spouse at any time during 2013. 2012 federal tax forms 1040   If you are a nonresident alien, 85% of your benefits are taxable. 2012 federal tax forms 1040 However, this income is exempt under some tax treaties. 2012 federal tax forms 1040 Which worksheet to use. 2012 federal tax forms 1040   A worksheet to figure your taxable benefits is in the instructions for your Form 1040 or 1040A. 2012 federal tax forms 1040 However, you will need to use a different worksheet(s) if any of the following situations applies to you. 2012 federal tax forms 1040 You contributed to a traditional individual retirement arrangement (IRA) and you or your spouse were covered by a retirement plan at work. 2012 federal tax forms 1040 In this situation, you must use the special worksheets in Appendix B of Publication 590 to figure both your IRA deduction and your taxable benefits. 2012 federal tax forms 1040 Situation (1) does not apply and you take one or more of the following exclusions. 2012 federal tax forms 1040 Interest from qualified U. 2012 federal tax forms 1040 S. 2012 federal tax forms 1040 savings bonds (Form 8815). 2012 federal tax forms 1040 Employer-provided adoption benefits (Form 8839). 2012 federal tax forms 1040 Foreign earned income or housing (Form 2555 or Form 2555-EZ). 2012 federal tax forms 1040 Income earned in American Samoa (Form 4563) or Puerto Rico by bona fide residents. 2012 federal tax forms 1040 In these situations, you must use Worksheet 1 in Publication 915, Social Security and Equivalent Railroad Retirement Benefits, to figure your taxable benefits. 2012 federal tax forms 1040 You received a lump-sum payment for an earlier year. 2012 federal tax forms 1040 In this situation, also complete Worksheet 2 or 3 and Worksheet 4 in Publication 915. 2012 federal tax forms 1040 See Lump-Sum Election , later. 2012 federal tax forms 1040 How To Report Your Benefits If part of your benefits are taxable, you must use Form 1040, Form 1040A, or Form 1040NR. 2012 federal tax forms 1040 You cannot use Form 1040EZ. 2012 federal tax forms 1040 Reporting on Form 1040. 2012 federal tax forms 1040   Report your net benefits (the amount in box 5 of your Form SSA-1099 or Form RRB-1099) on line 20a and the taxable part on line 20b. 2012 federal tax forms 1040 If you are married filing separately and you lived apart from your spouse for all of 2013, also enter “D” to the right of the word “benefits” on line 20a. 2012 federal tax forms 1040 Reporting on Form 1040A. 2012 federal tax forms 1040   Report your net benefits (the amount in box 5 of your Form SSA-1099 or Form RRB-1099) on line 14a and the taxable part on line 14b. 2012 federal tax forms 1040 If you are married filing separately and you lived apart from your spouse for all of 2013, also enter “D” to the right of the word “benefits” on line 14a. 2012 federal tax forms 1040 Reporting on Form 1040NR. 2012 federal tax forms 1040   Report 85% of the total amount of your benefits (box 5 of your Form SSA-1042S or Form RRB-1042S) in the appropriate column of Form 1040NR, Schedule NEC, line 8. 2012 federal tax forms 1040 Benefits not taxable. 2012 federal tax forms 1040   If you are filing Form 1040EZ, do not report any benefits on your tax return. 2012 federal tax forms 1040 If you are filing Form 1040 or Form 1040A, report your net benefits (the amount in box 5 of your Form SSA-1099 or Form RRB-1099) on Form 1040, line 20a, or Form 1040A, line 14a. 2012 federal tax forms 1040 Enter -0- on Form 1040, line 20b, or Form 1040A, line 14b. 2012 federal tax forms 1040 If you are married filing separately and you lived apart from your spouse for all of 2013, also enter “D” to the right of the word “benefits” on Form 1040, line 20a, or Form 1040A, line 14a. 2012 federal tax forms 1040 Lump-Sum Election You must include the taxable part of a lump-sum (retroactive) payment of benefits received in 2013 in your 2013 income, even if the payment includes benefits for an earlier year. 2012 federal tax forms 1040 This type of lump-sum benefit payment should not be confused with the lump-sum death benefit that both the SSA and RRB pay to many of their beneficiaries. 2012 federal tax forms 1040 No part of the lump-sum death benefit is subject to tax. 2012 federal tax forms 1040 For more information about the lump-sum death benefit, visit the Social Security Administration website at www. 2012 federal tax forms 1040 SSA. 2012 federal tax forms 1040 gov, and use keyword: death benefit. 2012 federal tax forms 1040 Generally, you use your 2013 income to figure the taxable part of the total benefits received in 2013. 2012 federal tax forms 1040 However, you may be able to figure the taxable part of a lump-sum payment for an earlier year separately, using your income for the earlier year. 2012 federal tax forms 1040 You can elect this method if it lowers your taxable benefits. 2012 federal tax forms 1040 See Publication 915 for more information. 2012 federal tax forms 1040 Repayments More Than Gross Benefits In some situations, your Form SSA-1099 or Form RRB-1099 will show that the total benefits you repaid (box 4) are more than the gross benefits (box 3) you received. 2012 federal tax forms 1040 If this occurred, your net benefits in box 5 will be a negative figure (a figure in parentheses) and none of your benefits will be taxable. 2012 federal tax forms 1040 If you receive more than one form, a negative figure in box 5 of one form is used to offset a positive figure in box 5 of another form for that same year. 2012 federal tax forms 1040 If you have any questions about this negative figure, contact your local Social Security Administration office or your local U. 2012 federal tax forms 1040 S. 2012 federal tax forms 1040 Railroad Retirement Board field office. 2012 federal tax forms 1040 Joint return. 2012 federal tax forms 1040   If you and your spouse file a joint return, and your Form SSA-1099 or RRB-1099 has a negative figure in box 5 but your spouse's does not, subtract the box 5 amount on your form from the box 5 amount on your spouse's form. 2012 federal tax forms 1040 You do this to get your net benefits when figuring if your combined benefits are taxable. 2012 federal tax forms 1040 Repayment of benefits received in an earlier year. 2012 federal tax forms 1040   If the total amount shown in box 5 of all of your Forms SSA-1099 and RRB-1099 is a negative figure, you can take an itemized deduction for the part of this negative figure that represents benefits you included in gross income in an earlier year. 2012 federal tax forms 1040   If this deduction is $3,000 or less, it is subject to the 2%-of-adjusted-gross-income limit that applies to certain miscellaneous itemized deductions. 2012 federal tax forms 1040 Claim it on Schedule A (Form 1040), line 23. 2012 federal tax forms 1040   If this deduction is more than $3,000, you have to follow some special instructions. 2012 federal tax forms 1040 See Publication 915 for those instructions. 2012 federal tax forms 1040 Sickness and Injury Benefits Generally, you must report as income any amount you receive for personal injury or sickness through an accident or health plan that is paid for by your employer. 2012 federal tax forms 1040 If both you and your employer pay for the plan, only the amount you receive that is due to your employer's payments is reported as income. 2012 federal tax forms 1040 However, certain payments may not be taxable to you. 2012 federal tax forms 1040 Some of these payments are discussed later in this section. 2012 federal tax forms 1040 Also, see Military and Government Disability Pensions and Other Sickness and Injury Benefits in Publication 525. 2012 federal tax forms 1040 Cost paid by you. 2012 federal tax forms 1040   If you pay the entire cost of an accident or health plan, do not include any amounts you receive from the plan for personal injury or sickness as income on your tax return. 2012 federal tax forms 1040 If your plan reimbursed you for medical expenses you deducted in an earlier year, you may have to include some, or all, of the reimbursement in your income. 2012 federal tax forms 1040 Disability Pensions If you retired on disability, you must include in income any disability pension you receive under a plan that is paid for by your employer. 2012 federal tax forms 1040 You must report your taxable disability payments as wages on line 7 of Form 1040 or Form 1040A or on line 8 of Form 1040NR until you reach minimum retirement age. 2012 federal tax forms 1040 Minimum retirement age generally is the age at which you can first receive a pension or annuity if you are not disabled. 2012 federal tax forms 1040 If you were 65 or older by the end of 2013 or you were retired on permanent and total disability and received taxable disability income, you may be able to claim the credit for the elderly or the disabled. 2012 federal tax forms 1040 See Credit for the Elderly or the Disabled, later. 2012 federal tax forms 1040 For more information on this credit, see Publication 524, Credit for the Elderly or the Disabled. 2012 federal tax forms 1040 Beginning on the day after you reach minimum retirement age, payments you receive are taxable as a pension or annuity. 2012 federal tax forms 1040 Report the payments on lines 16a and 16b of Form 1040, on lines 12a and 12b of Form 1040A, or on lines 17a and 17b of Form 1040NR. 2012 federal tax forms 1040 For more information on pensions and annuities, see Publication 575. 2012 federal tax forms 1040 Retirement and profit-sharing plans. 2012 federal tax forms 1040   If you receive payments from a retirement or profit-sharing plan that does not provide for disability retirement, do not treat the payments as a disability pension. 2012 federal tax forms 1040 The payments must be reported as a pension or annuity. 2012 federal tax forms 1040 Accrued leave payment. 2012 federal tax forms 1040   If you retire on disability, any lump-sum payment you receive for accrued annual leave is a salary payment. 2012 federal tax forms 1040 The payment is not a disability payment. 2012 federal tax forms 1040 Include it in your income in the tax year you receive it. 2012 federal tax forms 1040 Long-Term Care Insurance Contracts In most cases, long-term care insurance contracts generally are treated as accident and health insurance contracts. 2012 federal tax forms 1040 Amounts you receive from them (other than policyholder dividends or premium refunds) generally are excludable from income as amounts received for personal injury or sickness. 2012 federal tax forms 1040 However, the amount you can exclude may be limited. 2012 federal tax forms 1040 Long-term care insurance contracts are discussed in more detail in Publication 525. 2012 federal tax forms 1040 Workers' Compensation Amounts you receive as workers' compensation for an occupational sickness or injury are fully exempt from tax if they are paid under a workers' compensation act or a statute in the nature of a workers' compensation act. 2012 federal tax forms 1040 The exemption also applies to your survivors. 2012 federal tax forms 1040 The exemption, however, does not apply to retirement plan benefits you receive based on your age, length of service, or prior contributions to the plan, even if you retired because of an occupational sickness or injury. 2012 federal tax forms 1040 If part of your workers' compensation reduces your social security or equivalent railroad retirement benefits, that part is considered social security (or equivalent railroad retirement) benefits and may be taxable. 2012 federal tax forms 1040 For a discussion of the taxability of these benefits, see Social Security and Equivalent Railroad Retirement Benefits, earlier. 2012 federal tax forms 1040 Return to work. 2012 federal tax forms 1040   If you return to work after qualifying for workers' compensation, salary payments you receive for performing light duties are taxable as wages. 2012 federal tax forms 1040 Other Sickness and Injury Benefits In addition to disability pensions and annuities, you may receive other payments for sickness or injury. 2012 federal tax forms 1040 Federal Employees' Compensation Act (FECA). 2012 federal tax forms 1040   Payments received under this Act for personal injury or sickness, including payments to beneficiaries in case of death, are not taxable. 2012 federal tax forms 1040 However, you are taxed on amounts you receive under this Act as continuation of pay for up to 45 days while a claim is being decided. 2012 federal tax forms 1040 Report this income on Form 1040, line 7; Form 1040A, line 7; on Form 1040EZ, line 1; or Form 1040NR, line 8. 2012 federal tax forms 1040 Also, pay for sick leave while a claim is being processed is taxable and must be included in your income as wages. 2012 federal tax forms 1040    If part of the payments you receive under FECA reduces your social security or equivalent railroad retirement benefits, that part is considered social security (or equivalent railroad retirement) benefits and may be taxable. 2012 federal tax forms 1040 For a discussion of the taxability of these benefits, see Social Security and Equivalent Railroad Retirement Benefits, earlier. 2012 federal tax forms 1040 Other compensation. 2012 federal tax forms 1040   Many other amounts you receive as compensation for sickness or injury are not taxable. 2012 federal tax forms 1040 These include the following amounts. 2012 federal tax forms 1040 Benefits you receive under an accident or health insurance policy on which either you paid the premiums or your employer paid the premiums but you had to include them in your income. 2012 federal tax forms 1040 Disability benefits you receive for loss of income or earning capacity as a result of injuries under a no-fault car insurance policy. 2012 federal tax forms 1040 Compensation you receive for permanent loss or loss of use of a part or function of your body, for your permanent disfigurement, or for such loss or disfigurement suffered by your spouse or dependent(s). 2012 federal tax forms 1040 This compensation must be based only on the injury and not on the period of your absence from work. 2012 federal tax forms 1040 These benefits are not taxable even if your employer pays for the accident and health plan that provides these benefits. 2012 federal tax forms 1040 Life Insurance Proceeds Life insurance proceeds paid to you because of the death of the insured person are not taxable unless the policy was turned over to you for a price. 2012 federal tax forms 1040 This is true even if the proceeds were paid under an accident or health insurance policy or an endowment contract. 2012 federal tax forms 1040 Proceeds not received in installments. 2012 federal tax forms 1040   If death benefits are paid to you in a lump sum or other than at regular intervals, include in your income only the benefits that are more than the amount payable to you at the time of the insured person's death. 2012 federal tax forms 1040 If the benefit payable at death is not specified, you include in your income the benefit payments that are more than the present value of the payments at the time of death. 2012 federal tax forms 1040 Proceeds received in installments. 2012 federal tax forms 1040   If you receive life insurance proceeds in installments, you can exclude part of each installment from your income. 2012 federal tax forms 1040   To determine the excluded part, divide the amount held by the insurance company (generally the total lump sum payable at the death of the insured person) by the number of installments to be paid. 2012 federal tax forms 1040 Include anything over this excluded part in your income as interest. 2012 federal tax forms 1040 Installments for life. 2012 federal tax forms 1040   If, as the beneficiary under an insurance contract, you are entitled to receive the proceeds in installments for the rest of your life without a refund or period-certain guarantee, you figure the excluded part of each installment by dividing the amount held by the insurance company by your life expectancy. 2012 federal tax forms 1040 If there is a refund or period-certain guarantee, the amount held by the insurance company for this purpose is reduced by the actuarial value of the guarantee. 2012 federal tax forms 1040 Surviving spouse. 2012 federal tax forms 1040   If your spouse died before October 23, 1986, and insurance proceeds paid to you because of the death of your spouse are received in installments, you can exclude, in any year, up to $1,000 of the interest included in the installments. 2012 federal tax forms 1040 If you remarry, you can continue to take the exclusion. 2012 federal tax forms 1040 Surrender of policy for cash. 2012 federal tax forms 1040   If you surrender a life insurance policy for cash, you must include in income any proceeds that are more than the cost of the life insurance policy. 2012 federal tax forms 1040 In general, your cost (or investment in the contract) is the total of premiums that you paid for the life insurance policy, less any refunded premiums, rebates, dividends, or unrepaid loans that were not included in your income. 2012 federal tax forms 1040 You should receive a Form 1099-R showing the total proceeds and the taxable part. 2012 federal tax forms 1040 Report these amounts on Form 1040, lines 16a and 16b; Form 1040A, lines 12a and 12b; or Form 1040NR, lines 17a and 17b. 2012 federal tax forms 1040 Endowment Contract Proceeds An endowment contract is a policy that pays over to you a specified amount of money on a certain date unless you die before that date, in which case, the money is paid to your designated beneficiary. 2012 federal tax forms 1040 Endowment proceeds paid in a lump sum to you at maturity are taxable only if the proceeds are more than the cost of the policy. 2012 federal tax forms 1040 To determine your cost, subtract from the total premiums (or other consideration) paid for the contract any amount that you previously received under the contract and excluded from your income. 2012 federal tax forms 1040 Include in your income the part of the lump-sum payment that is more than your cost. 2012 federal tax forms 1040 Endowment proceeds that you choose to receive in installments instead of a lump-sum payment at the maturity of the policy are taxed as an annuity. 2012 federal tax forms 1040 The tax treatment of an annuity is explained in Publication 575. 2012 federal tax forms 1040 For this treatment to apply, you must choose to receive the proceeds in installments before receiving any part of the lump sum. 2012 federal tax forms 1040 This election must be made within 60 days after the lump-sum payment first becomes payable to you. 2012 federal tax forms 1040 Accelerated Death Benefits Certain amounts paid as accelerated death benefits under a life insurance contract or viatical settlement before the insured's death are generally excluded from income if the insured is terminally or chronically ill. 2012 federal tax forms 1040 However, see Exception , later. 2012 federal tax forms 1040 For a chronically ill individual, accelerated death benefits paid on the basis of costs incurred for qualified long-term care services are fully excludable. 2012 federal tax forms 1040 Accelerated death benefits paid on a per diem or other periodic basis without regard to the costs are excludable up to a limit. 2012 federal tax forms 1040 In addition, if any portion of a death benefit under a life insurance contract on the life of a terminally or chronically ill individual is sold or assigned to a viatical settlement provider, the amount received also is excluded from income. 2012 federal tax forms 1040 Generally, a viatical settlement provider is one who regularly engages in the business of buying or taking assignment of life insurance contracts on the lives of insured individuals who are terminally or chronically ill. 2012 federal tax forms 1040 To report taxable accelerated death benefits made on a per diem or other periodic basis, you must file Form 8853, Archer MSAs and Long-Term Care Insurance Contracts, with your return. 2012 federal tax forms 1040 Terminally or chronically ill defined. 2012 federal tax forms 1040   A terminally ill person is one who has been certified by a physician as having an illness or physical condition that reasonably can be expected to result in death within 24 months from the date of the certification. 2012 federal tax forms 1040 A chronically ill person is one who is not terminally ill but has been certified (within the previous 12 months) by a licensed health care practitioner as meeting either of the following conditions. 2012 federal tax forms 1040 The person is unable to perform (without substantial help) at least two activities of daily living (eating, toileting, transferring, bathing, dressing, and continence) for a period of 90 days or more because of a loss of functional capacity. 2012 federal tax forms 1040 The person requires substantial supervision to protect himself or herself from threats to health and safety due to severe cognitive impairment. 2012 federal tax forms 1040 Exception. 2012 federal tax forms 1040   The exclusion does not apply to any amount paid to a person other than the insured if that other person has an insurable interest in the life of the insured because the insured: Is a director, officer, or employee of the other person, or Has a financial interest in the business of the other person. 2012 federal tax forms 1040 Sale of Home You may be able to exclude from income any gain up to $250,000 ($500,000 on a joint return in most cases) on the sale of your main home. 2012 federal tax forms 1040 Generally, if you can exclude all of the gain, you do not need to report the sale on your tax return. 2012 federal tax forms 1040 You can choose not to take the exclusion by including the gain from the sale in your gross income on your tax return for the year of the sale. 2012 federal tax forms 1040 Main home. 2012 federal tax forms 1040   Usually, your main home is the home you live in most of the time and can be a: House, Houseboat, Mobile home, Cooperative apartment, or Condominium. 2012 federal tax forms 1040 Repaying the first-time homebuyer credit because you sold your home. 2012 federal tax forms 1040   If you claimed a first-time homebuyer credit for your main home and you sell it, you may have to repay the credit. 2012 federal tax forms 1040 For a home purchased in 2008 and used as your main home until sold in 2013, you must file Form 5405 and repay the balance of the unpaid credit on your 2013 tax return. 2012 federal tax forms 1040   For a home purchased after 2008, you generally must repay the entire credit if the home was sold (or otherwise ceased to be your main home) within 36 months of the purchase date. 2012 federal tax forms 1040 If you purchased your home in 2009 and used it as your main home until sold in 2013, you do not have to repay the credit or file Form 5405. 2012 federal tax forms 1040 If you purchased your home in 2010 and used it as your main home until sold in 2013, you may have to file Form 5405 and repay the entire credit on your 2013 tax return. 2012 federal tax forms 1040   See the Instructions for Form 5405 for more information about repaying the credit and exceptions to repayment that may apply to you. 2012 federal tax forms 1040 Maximum Amount of Exclusion You can generally exclude up to $250,000 of the gain (other than gain allocated to periods of nonqualified use) on the sale of your main home if all of the following are true. 2012 federal tax forms 1040 You meet the ownership test. 2012 federal tax forms 1040 You meet the use test. 2012 federal tax forms 1040 During the 2-year period ending on the date of the sale, you did not exclude gain from the sale of another home. 2012 federal tax forms 1040 You may be able to exclude up to $500,000 of the gain (other than gain allocated to periods of nonqualified use) on the sale of your main home if you are married and file a joint return and meet the requirements listed in the discussion of the special rules for joint returns, later, under Married Persons . 2012 federal tax forms 1040 Ownership and Use Tests To claim the exclusion, you must meet the ownership and use tests. 2012 federal tax forms 1040 This means that during the 5-year period ending on the date of the sale, you must have: Owned the home for at least 2 years (the ownership test), and Lived in the home as your main home for at least 2 years (the use test). 2012 federal tax forms 1040 Exception to ownership and use tests. 2012 federal tax forms 1040   If you owned and lived in the property as your main home for less than 2 years, you still can claim an exclusion in some cases. 2012 federal tax forms 1040 Generally, you must have sold the home due to a change in place of employment, health, or unforeseen circumstances. 2012 federal tax forms 1040 The maximum amount you can exclude will be reduced. 2012 federal tax forms 1040 See Publication 523, Selling Your Home, for more information. 2012 federal tax forms 1040 Exception to use test for individuals with a disability. 2012 federal tax forms 1040   There is an exception to the use test if, during the 5-year period before the sale of your home: You become physically or mentally unable to care for yourself, and You owned and lived in your home as your main home for a total of at least 1 year. 2012 federal tax forms 1040 Under this exception, you are considered to live in your home during any time that you own the home and live in a facility (including a nursing home) that is licensed by a state or political subdivision to care for persons in your condition. 2012 federal tax forms 1040   If you meet this exception to the use test, you still have to meet the 2-out-of-5-year ownership test to claim the exclusion. 2012 federal tax forms 1040 Exception to ownership test for property acquired in a like-kind exchange. 2012 federal tax forms 1040   You must have owned your main home for at least 5 years to qualify for the exclusion if you acquired your main home in a like-kind exchange. 2012 federal tax forms 1040 This special 5-year ownership rule continues to apply to a home you acquired in a like-kind exchange and gave to another person. 2012 federal tax forms 1040 A like-kind exchange is an exchange of property held for productive use in a trade or business or for investment. 2012 federal tax forms 1040 See Publication 523 for more information. 2012 federal tax forms 1040 Period of nonqualified use. 2012 federal tax forms 1040   Generally, the gain from the sale or exchange of your main home will not qualify for the exclusion to the extent that the gain is allocated to periods of nonqualified use. 2012 federal tax forms 1040 Nonqualified use is any period after December 31, 2008, during which the property is not used as the main home. 2012 federal tax forms 1040 See Publication 523 for more information. 2012 federal tax forms 1040 Married Persons In the special situations discussed below, if you and your spouse file a joint return for the year of sale and one spouse meets the ownership and use test, you can exclude up to $250,000 of gain. 2012 federal tax forms 1040 However, see Special rules for joint returns , next. 2012 federal tax forms 1040 Special rules for joint returns. 2012 federal tax forms 1040   You can exclude up to $500,000 of the gain on the sale of your main home if all of the following are true. 2012 federal tax forms 1040 You are married and file a joint return for the year. 2012 federal tax forms 1040 Either you or your spouse meets the ownership test. 2012 federal tax forms 1040 Both you and your spouse meet the use test. 2012 federal tax forms 1040 During the 2-year period ending on the date of the sale, neither you nor your spouse exclude gain from the sale of another home. 2012 federal tax forms 1040 Sale of home by surviving spouse. 2012 federal tax forms 1040   If your spouse died and you did not remarry before the date of sale, you are considered to have owned and lived in the property as your main home during any period of time when your spouse owned and lived in it as a main home. 2012 federal tax forms 1040   If you meet all of the following requirements, you may qualify to exclude up to $500,000 of any gain from the sale or exchange of your main home in 2013. 2012 federal tax forms 1040 The sale or exchange took place no more than 2 years after the date of death of your spouse. 2012 federal tax forms 1040 You have not remarried. 2012 federal tax forms 1040 You and your spouse met the use test at the time of your spouse's death. 2012 federal tax forms 1040 You or your spouse met the ownership test at the time of your spouse's death. 2012 federal tax forms 1040 Neither you nor your spouse excluded gain from the sale of another home during the last 2 years. 2012 federal tax forms 1040 Home transferred from spouse. 2012 federal tax forms 1040   If your home was transferred to you by your spouse (or former spouse if the transfer was incident to divorce), you are considered to have owned it during any period of time when your spouse owned it. 2012 federal tax forms 1040 Use of home after divorce. 2012 federal tax forms 1040   You are considered to have used property as your main home during any period when: You owned it, and Your spouse or former spouse is allowed to live in it under a divorce or separation instrument and uses it as his or her main home. 2012 federal tax forms 1040 Business Use or Rental of Home You may be able to exclude gain from the sale of a home that you have used for business or to produce rental income. 2012 federal tax forms 1040 However, you must meet the ownership and use tests. 2012 federal tax forms 1040 See Publication 523 for more information. 2012 federal tax forms 1040 Depreciation after May 6, 1997. 2012 federal tax forms 1040   If you were entitled to take depreciation deductions because you used your home for business purposes or as rental property, you cannot exclude the part of your gain equal to any depreciation allowed or allowable as a deduction for periods after May 6, 1997. 2012 federal tax forms 1040 See Publication 523 for more information. 2012 federal tax forms 1040 Reporting the Sale Do not report the 2013 sale of your main home on your tax return unless: You have a gain and you do not qualify to exclude all of it, You have a gain and you choose not to exclude it, or You received Form 1099-S. 2012 federal tax forms 1040 If you have a gain that you cannot or choose not to exclude, if you received a Form 1099-S, or if you have a deductible loss, report the sale on your tax return. 2012 federal tax forms 1040 Report the sale on Part I or Part II of Form 8949 as a short-term or long-term transaction, depending on how long you owned the home. 2012 federal tax forms 1040 If you used your home for business or to produce rental income, you may have to use Form 4797, Sales of Business Property, to report the sale of the business or rental part. 2012 federal tax forms 1040 See Publication 523 for more information. 2012 federal tax forms 1040 Reverse Mortgages 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