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Amending My 2012 Tax Return

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Amending My 2012 Tax Return

Amending my 2012 tax return Index Symbols 1231 property sale, Sale of property interest. Amending my 2012 tax return 401(k) plans, Elective Deferrals Excess contributions, Excess Contributions 403(b) plans, Elective Deferrals Limit for, Limit for tax-sheltered annuities. Amending my 2012 tax return 457 plans, Elective Deferrals Limit for deferrals under, Limit for deferrals under section 457 plans. Amending my 2012 tax return 501(c)(18)(D) plans, Elective Deferrals Contributions, Section 501(c)(18)(D) contributions. Amending my 2012 tax return 501(c)(3) organizations, Student loans. Amending my 2012 tax return 529 program, Qualified tuition program (QTP). Amending my 2012 tax return 83(b) election, How to make the choice. Amending my 2012 tax return A Academic health centers Meals and lodging when teaching and research organization, Academic health center. Amending my 2012 tax return Accelerated death benefits, Accelerated Death Benefits Accident insurance, Accident or Health Plan Accidental death benefits, Accidental death benefits. Amending my 2012 tax return Accrual method taxpayers, Prepaid income. Amending my 2012 tax return Accrued leave payment At time of retirement or resignation, Accrued leave payment. Amending my 2012 tax return Disability retirement, Accrued leave payment. Amending my 2012 tax return Activity not for profit, Activity not for profit. Amending my 2012 tax return Adoption Employer assistance, Adoption Assistance Advance commissions, Miscellaneous Compensation Aircraft, Flights on employer-provided aircraft. Amending my 2012 tax return Airlines No-additional-cost services, No-Additional-Cost Services Valuation of flights on employer-provided aircraft, Flights on employer-provided aircraft. Amending my 2012 tax return Alaska Permanent Fund dividend, Alaska Permanent Fund dividend. Amending my 2012 tax return Alien status, waiver of, Waiver of alien status. Amending my 2012 tax return Aliens Nonresident, Nonresident aliens. Amending my 2012 tax return Alimony, Alimony. Amending my 2012 tax return Alternative minimum tax (AMT) Recoveries, refiguring of, Subject to alternative minimum tax. Amending my 2012 tax return Stock options, Alternative minimum tax (AMT). Amending my 2012 tax return Annuities Charitable gift, Charitable gift annuities. Amending my 2012 tax return Railroad retirement, Railroad retirement annuities. Amending my 2012 tax return Tax-sheltered, Limit for tax-sheltered annuities. Amending my 2012 tax return Archer MSAs, Archer MSA contributions. Amending my 2012 tax return , Medical savings accounts (Archer MSAs and Medicare Advantage MSAs). Amending my 2012 tax return Armed forces, Military Combat zone bonus, Veterans' benefits. Amending my 2012 tax return Disability, Disability. Amending my 2012 tax return Disability pensions, Military and Government Disability Pensions Health professions scholarship, Tuition Reduction Military action as cause of disability injuries, Terrorist attack or military action. Amending my 2012 tax return Qualified reservist distribution, Qualified reservist distribution (QRD). Amending my 2012 tax return Rehabilitative program payments, Veterans' benefits. Amending my 2012 tax return Retirement pay, Military retirement pay. Amending my 2012 tax return Veterans benefits, Veterans' benefits. Amending my 2012 tax return Assistance (see Tax help) Athletic facilities, employer-provided, Athletic Facilities Automobile (see Vehicle, employer-provided) Awards (see Damages from lawsuits) B Babysitting, Babysitting. Amending my 2012 tax return Back pay, award for, Back pay awards. Amending my 2012 tax return Backup withholding Barter exchange transactions, Backup withholding. Amending my 2012 tax return Bankruptcy Canceled debt not deemed to be income, Excluded debt. Amending my 2012 tax return Barter income, Bartering Below-market loans, Below-market loans. Amending my 2012 tax return Bequest for services, Bequest for services. Amending my 2012 tax return Bicycle, Transportation Fringe benefit, Qualified bicycle commuting. Amending my 2012 tax return Black lung benefit payments, Black lung benefit payments. Amending my 2012 tax return Bonuses, Bonuses and awards. Amending my 2012 tax return , Employee awards or bonuses. Amending my 2012 tax return Breach of contract Damages as income, Court awards and damages. Amending my 2012 tax return Bribes, Bribes. Amending my 2012 tax return Business expenses Reimbursements, Allowances and reimbursements. Amending my 2012 tax return Business income, Business and Investment Income, More information. Amending my 2012 tax return C Cafeteria plans, Cafeteria plans. Amending my 2012 tax return Campaign contributions, Campaign contributions. Amending my 2012 tax return Campus lodging, Qualified campus lodging. Amending my 2012 tax return , Moving Expense Reimbursements Cancellation of debt, Canceled Debts Cancellation of sales contracts, Canceled sales contract. Amending my 2012 tax return Capital gains Recoveries, Capital gains. Amending my 2012 tax return , Capital gains. Amending my 2012 tax return Capital gains or losses Employee stock option plans (ESOPs), Option granted at a discount. Amending my 2012 tax return Incentive stock options (ISOs), Incentive stock options (ISOs). Amending my 2012 tax return Sale of personal property, Sale of personal items. Amending my 2012 tax return Car (see Vehicle, employer-provided) Car pools, Car pools. Amending my 2012 tax return Cash or deferred arrangements (CODAs), Elective Deferrals Cash rebates, Cash rebates. Amending my 2012 tax return Casualty insurance Reimbursements from, Casualty insurance and other reimbursements. Amending my 2012 tax return Catch-up contributions, Catch-up contributions. Amending my 2012 tax return , Catch-up contributions. Amending my 2012 tax return Charitable gift annuities, Charitable gift annuities. Amending my 2012 tax return Child and Adult Care Food Program Payments to daycare providers, Food program payments to daycare providers. Amending my 2012 tax return Child support payments, Child support payments. Amending my 2012 tax return Childcare providers, Childcare providers. Amending my 2012 tax return , Food program payments to daycare providers. Amending my 2012 tax return Chronic illness, Chronically ill individual. Amending my 2012 tax return Accelerated death benefits paid to, Exclusion for chronic illness. Amending my 2012 tax return Citizens outside U. Amending my 2012 tax return S. Amending my 2012 tax return Exclusion of foreign income, Reminders Civil Rights Act of 1964, Title VII Back pay and damages for emotional distress under, Court awards and damages. Amending my 2012 tax return Clergy, Clergy Coal, Coal and iron ore. Amending my 2012 tax return Colleges and universities Faculty lodging, Faculty lodging. Amending my 2012 tax return Scholarships and fellowships, Scholarships and fellowships. Amending my 2012 tax return Commissions Advance, Miscellaneous Compensation Commuter highway vehicles, Transportation Compensation Employee, Employee Compensation Miscellaneous, Miscellaneous Compensation Unemployment, Unemployment compensation. Amending my 2012 tax return Workers', Workers' Compensation Compensatory damages, Other compensation. Amending my 2012 tax return , Court awards and damages. Amending my 2012 tax return Constructive receipt of income, Constructively received income. Amending my 2012 tax return Copyrights Infringement damages, Court awards and damages. Amending my 2012 tax return Royalties, Copyrights and patents. Amending my 2012 tax return Corporate directors, Corporate director. Amending my 2012 tax return Cost-of-living allowances, Government cost-of-living allowances. Amending my 2012 tax return Court awards, Court awards and damages. Amending my 2012 tax return (see also Damages from lawsuits) Credit card Insurance, Credit card insurance. Amending my 2012 tax return Credits Recoveries, refiguring of unused credits, Unused tax credits. Amending my 2012 tax return , Unused tax credits. Amending my 2012 tax return Currency transactions, foreign, Foreign currency transactions. Amending my 2012 tax return D Damages from lawsuits, Court awards and damages. Amending my 2012 tax return Back pay awards, Back pay awards. Amending my 2012 tax return Breach of contract, Court awards and damages. Amending my 2012 tax return Compensatory damages, Other compensation. Amending my 2012 tax return , Court awards and damages. Amending my 2012 tax return Emotional distress under Title VII, Civil Rights Act of 1964, Court awards and damages. Amending my 2012 tax return Punitive damages, Court awards and damages. Amending my 2012 tax return Daycare providers, Childcare providers. Amending my 2012 tax return (see also Childcare providers) Food program payments to, Food program payments to daycare providers. Amending my 2012 tax return De minimis benefits, De Minimis (Minimal) Benefits, Meals and Lodging Death benefits, Proceeds not received in installments. Amending my 2012 tax return (see also Life insurance) Accelerated, Accelerated Death Benefits Debts Canceled, Canceled Debts Excluded debt, Excluded debt. Amending my 2012 tax return Nonrecourse debts, Mortgage relief upon sale or other disposition. Amending my 2012 tax return Recourse, Mortgage relief upon sale or other disposition. Amending my 2012 tax return Stockholder's, Stockholder debt. Amending my 2012 tax return Deduction Costs of discrimination suits, Deduction for costs involved in unlawful discrimination suits. Amending my 2012 tax return Deferred compensation Nonqualified plans, Nonqualified deferred compensation plans. Amending my 2012 tax return , Nonqualified deferred compensation plans of nonqualified entities. Amending my 2012 tax return Dependent care benefits, Dependent Care Benefits Depletion allowance, Depletion. Amending my 2012 tax return Differential wage payments, Differential wage payments. Amending my 2012 tax return Armed forces, Differential wage payments. Amending my 2012 tax return Directors' fees, Corporate director. Amending my 2012 tax return Disability Military, Disability. Amending my 2012 tax return Pensions, Disability Pensions Workers' compensation, Disability pension. Amending my 2012 tax return Person with, Persons with disabilities. Amending my 2012 tax return Unemployment compensation, paid as substitute for, Types of unemployment compensation. Amending my 2012 tax return Disaster relief Disaster mitigation payments, Disaster mitigation payments. Amending my 2012 tax return Disaster Relief and Emergency Assistance Act Grants, Disaster relief grants. Amending my 2012 tax return Unemployment benefits, Unemployment Benefits Mitigation payments, Reminders Payments, Disaster relief payments. Amending my 2012 tax return Discounts Employee discounts, Employee Discounts Employee stock purchase plans, Option granted at a discount. Amending my 2012 tax return Mortgage loan for early payment, Discounted mortgage loan. Amending my 2012 tax return Dividends Restricted stock, Dividends received on restricted stock. Amending my 2012 tax return Divorced taxpayers Stock options exercised incident to divorce, Tax form. Amending my 2012 tax return Down payment assistance, Down payment assistance. Amending my 2012 tax return E Educational assistance Employer-provided, Educational Assistance Scholarships and fellowships, Scholarships and fellowships. Amending my 2012 tax return Educational institutions Faculty lodging, Faculty lodging. Amending my 2012 tax return Elderly persons Nutrition Program for the Elderly, Nutrition Program for the Elderly. Amending my 2012 tax return Tax Counseling for the Elderly, Volunteer tax counseling. Amending my 2012 tax return Election precinct officials, Election precinct official. Amending my 2012 tax return Elective deferrals, Elective Deferrals Catch-up contributions, Catch-up contributions. Amending my 2012 tax return , Catch-up contributions. Amending my 2012 tax return Excess annual additions, Excess Annual Additions Excess contributions, Excess Contributions Excess deferrals, Excess deferrals. Amending my 2012 tax return Increased limit for last 3 years prior to retirement age, Increased limit. Amending my 2012 tax return Limit on, Elective Deferrals Reporting by employer, Reporting by employer. Amending my 2012 tax return Emergency Homeowners' Loan Program, Hardest Hit Fund and Emergency Homeowners' Loan Program. Amending my 2012 tax return Emotional distress damages, Emotional distress. Amending my 2012 tax return Employee achievement awards, Employee achievement award. Amending my 2012 tax return Employee awards or bonuses, Employee awards or bonuses. Amending my 2012 tax return Employee compensation, Employee Compensation, Inherited property not substantially vested. Amending my 2012 tax return Fringe benefits, Fringe Benefits, Special valuation rules. Amending my 2012 tax return Restricted property, Restricted Property, Inherited property not substantially vested. Amending my 2012 tax return Retirement plan contributions, Retirement Plan Contributions Stock options, Stock Options, Statutory Stock Options Employee discounts, Employee Discounts Employee stock purchase plans, Statutory Stock Options, Employee stock purchase plan. Amending my 2012 tax return Employer, foreign, Foreign Employer Employer-owned life insurance, Employer-owned life insurance contract. Amending my 2012 tax return Employer-provided Educational assistance, Educational Assistance Vehicles, Employer-provided vehicles. Amending my 2012 tax return Employment Abroad, Employment abroad. Amending my 2012 tax return Agency fees, Employment agency fees. Amending my 2012 tax return Contracts Severance pay for cancellation of, Severance pay. Amending my 2012 tax return Endowment proceeds, Endowment Contract Proceeds Energy Assistance, Payments to reduce cost of winter energy. Amending my 2012 tax return Conservation Subsidies, Energy conservation subsidies. Amending my 2012 tax return Utility rebates, Utility rebates. Amending my 2012 tax return Estate income, Estate and trust income. Amending my 2012 tax return Estimated tax Unemployment compensation, Tax withholding. Amending my 2012 tax return Excess Annual additions, Excess Annual Additions Contributions, Excess Contributions Deferrals, Excess deferrals. Amending my 2012 tax return Expected inheritance, Expected inheritance. Amending my 2012 tax return Expenses paid by another, Expenses paid by another. Amending my 2012 tax return Exxon Valdez settlement, Exxon Valdez settlement income. Amending my 2012 tax return Eligible retirement plan, Contributions to eligible retirement plan. Amending my 2012 tax return Income averaging, Income averaging. Amending my 2012 tax return Legal expenses, Legal expenses. Amending my 2012 tax return Reporting requirement-statement, Statement. Amending my 2012 tax return F Faculty lodging, Faculty lodging. Amending my 2012 tax return Fair market value (FMV), Fair market value. Amending my 2012 tax return Stock options, Grant of option. Amending my 2012 tax return Farming Qualified farm debt, cancellation of, Excluded debt. Amending my 2012 tax return Federal employees Accrued leave payment, Accrued leave payment. Amending my 2012 tax return Cost-of-living allowances, Government cost-of-living allowances. Amending my 2012 tax return Disability pensions, Military and Government Disability Pensions Thrift Savings Plan for, Elective Deferrals Federal Employees Compensation Act (FECA) payments, Federal Employees' Compensation Act (FECA). Amending my 2012 tax return Federal income tax Refunds, Federal income tax refund. Amending my 2012 tax return Fees for services, Fees for services. Amending my 2012 tax return Financial counseling fees, Financial Counseling Fees Fellowships, Scholarships and fellowships. Amending my 2012 tax return FICA withholding Foreign employers, U. Amending my 2012 tax return S. Amending my 2012 tax return citizens working for in U. Amending my 2012 tax return S. Amending my 2012 tax return , Social security and Medicare taxes. Amending my 2012 tax return Paid by employer, Social security and Medicare taxes paid by employer. Amending my 2012 tax return Fiduciaries Fees for services, Fees for services. Amending my 2012 tax return , Personal representatives. Amending my 2012 tax return Financial counseling fees, Financial Counseling Fees (see also Retirement planning services) Fitness programs Employer-provided, Athletic Facilities Flights Employer-provided aircraft, Flights on employer-provided aircraft. Amending my 2012 tax return No-additional-cost services, No-Additional-Cost Services Food benefits Daycare providers, food program payments to, Food program payments to daycare providers. Amending my 2012 tax return Nutrition Program for the Elderly, Nutrition Program for the Elderly. Amending my 2012 tax return Foreign Currency transactions, Foreign currency transactions. Amending my 2012 tax return Employment, Foreign Employer Governments, employees of, Employees of international organizations or foreign governments. Amending my 2012 tax return Income, Reminders Service, Service-connected disability. Amending my 2012 tax return Form 1040 Excess contributions to elective deferrals, Excess Contributions Recoveries, Where to report. Amending my 2012 tax return Unemployment compensation, Unemployment Benefits Wages from Form W-2, Employee Compensation Form 1040 or 1040A, Schedule B Restricted stock dividends, Stock you chose to include in your income. Amending my 2012 tax return Form 1040, Schedule A Outplacement services, deduction for, Outplacement services. Amending my 2012 tax return Repayment of commissions paid in advance, Advance commissions and other earnings. Amending my 2012 tax return Form 1040, Schedule C Bartering, Bartering Childcare providers to use, Childcare providers. Amending my 2012 tax return Personal property rental, reporting income from, Reporting business income and expenses. Amending my 2012 tax return Royalties, Royalties Form 1040, Schedule C-EZ Bartering, Bartering Childcare Providers to use, Childcare providers. Amending my 2012 tax return Personal property rental, reporting income from, Reporting business income and expenses. Amending my 2012 tax return Royalties, Royalties Form 1040, Schedule D Stock options, Sale of the stock. Amending my 2012 tax return Stock options reported on, Statutory Stock Options Form 1040, Schedule E Partner's return, Partner's return. Amending my 2012 tax return Royalties, Royalties Form 1040A Recoveries, Where to report. Amending my 2012 tax return Unemployment compensation, Unemployment Benefits Wages from Form W-2, Employee Compensation Form 1040EZ Recoveries, Where to report. Amending my 2012 tax return Unemployment compensation, Unemployment Benefits Wages from Form W-2, Employee Compensation Form 1041 Estates and trusts, Estate and trust income. Amending my 2012 tax return Form 1041, Schedule K-1 Beneficiary's share of income, deductions, credits, etc. Amending my 2012 tax return , Estate and trust income. Amending my 2012 tax return Form 1065 Partnership return, Partnership return. Amending my 2012 tax return Form 1065, Schedule K-1 Partner's share of income, Schedule K-1 (Form 1065). Amending my 2012 tax return , Partnership Income Form 1098 Mortgage interest statement, Mortgage interest refund. Amending my 2012 tax return Form 1099-B Barter exchange transactions, Form 1099-B from barter exchange. Amending my 2012 tax return , Backup withholding. Amending my 2012 tax return Form 1099-C Cancellation of debt, Form 1099-C. Amending my 2012 tax return Form 1099-DIV Restricted stock dividends, Stock you chose to include in your income. Amending my 2012 tax return Form 1099-G State tax refunds, State tax refund. Amending my 2012 tax return Unemployment compensation, Unemployment Benefits Form 1099-MISC Services totaling $600 or more, Fees for services. Amending my 2012 tax return Stock options exercised incident to divorce, Tax form. Amending my 2012 tax return Form 1099-R Charitable gift annuities, Charitable gift annuities. Amending my 2012 tax return Excess annual additions, Excess Annual Additions Excess deferral amounts, Excess distributed to you. Amending my 2012 tax return Surrender of life insurance policy for cash, Surrender of policy for cash. Amending my 2012 tax return Form 1120-POL Political organizations, Campaign contributions. Amending my 2012 tax return Form 1120S S corporation return, S corporation return. Amending my 2012 tax return Form 1120S, Schedule K-1 Shareholder's share of income, credits, deductions, etc. Amending my 2012 tax return , Schedule K-1 (Form 1120S). Amending my 2012 tax return Form 2441 Child and dependent care expenses, Dependent Care Benefits Form 4255 Recapture of investment credit, Amounts Recovered for Credits Form 6251 Alternative minimum tax, Alternative minimum tax (AMT). Amending my 2012 tax return Form 8839 Adoption assistance, Adoption Assistance Form 8853 Accelerated death benefits, Form 8853. Amending my 2012 tax return Archer MSAs and long-term care insurance contracts, Archer MSA contributions. Amending my 2012 tax return Form 8919 Uncollected social security and Medicare tax on wages, Employee Compensation Form RRB-1099 Railroad retirement board payments, Form RRB-1099. Amending my 2012 tax return Form SSA-1099 Social security benefit statement, Form SSA-1099. Amending my 2012 tax return Form W-2 501(c)(18)(D) contributions, Section 501(c)(18)(D) contributions. Amending my 2012 tax return Accrued leave payment at time of retirement or resignation, Accrued leave payment. Amending my 2012 tax return Back pay awards, Back pay awards. Amending my 2012 tax return Bonuses or awards, Bonuses and awards. Amending my 2012 tax return Elective deferrals, reporting by employer, Reporting by employer. Amending my 2012 tax return Failure to receive from employer, Employee Compensation Fringe benefits reported on, Form W-2. Amending my 2012 tax return Stock options from employers, Tax form. Amending my 2012 tax return Wage and tax statement, Employee Compensation Form W-2G Gambling winnings, Form W-2G. Amending my 2012 tax return Form W-4V Unemployment compensation, voluntary withholding request, Tax withholding. Amending my 2012 tax return Form W-9 Request for taxpayer identification number, Backup withholding. Amending my 2012 tax return Foster care, Foster care providers. Amending my 2012 tax return Foster Grandparent Program, National Senior Service Corps programs. Amending my 2012 tax return Found property, Found property. Amending my 2012 tax return Free tax services, Free help with your tax return. Amending my 2012 tax return Fringe benefits, Fringe Benefits, Special valuation rules. Amending my 2012 tax return Accident and health insurance, Accident or Health Plan Adoption, employer assistance, Adoption Assistance Athletic facilities, Athletic Facilities Commuter highway vehicles, Transportation De minimis benefits, De Minimis (Minimal) Benefits, Meals and Lodging Dependent care benefits, Dependent Care Benefits Educational assistance, Educational Assistance Employee discounts, Employee Discounts Faculty lodging, Faculty lodging. Amending my 2012 tax return Financial counseling fees, Financial Counseling Fees Holiday gifts, Holiday gifts. Amending my 2012 tax return Meals and lodging, Meals and Lodging Moving expenses (see Moving expenses) No-additional-cost services, No-Additional-Cost Services Parking, Transportation Retirement planning (see Retirement planning services) Transit pass, Transportation, Transit pass. Amending my 2012 tax return Tuition reduction, Tuition Reduction Valuation of, Valuation of Fringe Benefits, Special valuation rules. Amending my 2012 tax return Vehicle, Employer-provided vehicles. Amending my 2012 tax return Working condition benefits, Working Condition Benefits Frozen deposits Interest on, Interest on frozen deposits. Amending my 2012 tax return G Gambling winnings and losses, Gambling winnings. Amending my 2012 tax return Gas Royalties from, Oil, gas, and minerals. Amending my 2012 tax return Gifts, Gifts and inheritances. Amending my 2012 tax return Holiday gifts from employer, Holiday gifts. Amending my 2012 tax return Government employees (see Federal employees; State employees) Grantor trusts, Grantor trust. Amending my 2012 tax return Group-term life insurance Worksheets, Figuring the taxable cost. Amending my 2012 tax return , Worksheet 1. Amending my 2012 tax return Figuring the Cost of Group-Term Life Insurance To Include in Income—Illustrated Gulf oil spill, Reminders, Gulf oil spill. Amending my 2012 tax return H HAMP Home affordable modification program Pay-for-performance success payments, Home Affordable Modification Program (HAMP). Amending my 2012 tax return Hardest Hit Fund Program, Hardest Hit Fund and Emergency Homeowners' Loan Program. Amending my 2012 tax return Health Flexible spending arrangement, Health flexible spending arrangement (health FSA). Amending my 2012 tax return Insurance, Accident or Health Plan Reimbursement arrangement, Health reimbursement arrangement (HRA). Amending my 2012 tax return Savings account, Health savings accounts (HSA). Amending my 2012 tax return Help (see Tax help) Highly compensated employees Excess contributions to elective deferrals, Excess Contributions Historic preservation grants, Historic preservation grants. Amending my 2012 tax return Hobby losses, Hobby losses. Amending my 2012 tax return Holding period requirement, Holding period requirement. Amending my 2012 tax return Holiday gifts, Holiday gifts. Amending my 2012 tax return Holocaust victims restitution, Holocaust victims restitution. Amending my 2012 tax return Home, sale of, Sale of home. Amending my 2012 tax return Host or hostess, Host or Hostess Hotels No-additional-cost services, No-Additional-Cost Services Housing (see Lodging) I Illegal activities, Illegal activities. Amending my 2012 tax return Incentive stock options (ISOs), Statutory Stock Options, Incentive stock options (ISOs). Amending my 2012 tax return Income Assigned, Assignment of income. Amending my 2012 tax return Business and investment, Business and Investment Income, More information. Amending my 2012 tax return Constructive receipt of, Constructively received income. Amending my 2012 tax return Estate and trust, Estate and trust income. Amending my 2012 tax return Foreign employers, Foreign Employer Illegal, Illegal activities. Amending my 2012 tax return Miscellaneous, Miscellaneous Income Other, Other Income Partnership, Partnership Income Prepaid, Prepaid income. Amending my 2012 tax return S corporation, S Corporation Income Indian fishing rights, Indian fishing rights. Amending my 2012 tax return Indian money account, Indian money account litigation settlement. Amending my 2012 tax return Individual retirement arrangements (IRAs) Deduction, Benefits may affect your IRA deduction. Amending my 2012 tax return Inherited IRA, Inherited pension or IRA. Amending my 2012 tax return Inheritance, Gifts and inheritances. Amending my 2012 tax return IRA, Inherited pension or IRA. Amending my 2012 tax return Property not substantially vested, Inherited property not substantially vested. Amending my 2012 tax return Injury benefits, Sickness and Injury Benefits, Reimbursement for medical care. Amending my 2012 tax return Insurance Credit card, Credit card insurance. Amending my 2012 tax return Health, Accident or Health Plan Life (see Life insurance) Long-term care (see Long-term care insurance) Interest Canceled debt including, Interest included in canceled debt. Amending my 2012 tax return Frozen deposits, Interest on frozen deposits. Amending my 2012 tax return Mortgage refunds, Mortgage interest refund. Amending my 2012 tax return Option on insurance, Interest option on insurance. Amending my 2012 tax return Recovery amounts, Interest on recovery. Amending my 2012 tax return Savings bond, Interest on qualified savings bonds. Amending my 2012 tax return State and local government obligations, Interest on state and local government obligations. Amending my 2012 tax return Interference with business operations Damages as income, Court awards and damages. Amending my 2012 tax return International organizations, employees of, Foreign Employer Interview expenses, Job interview expenses. Amending my 2012 tax return Investment counseling fees, Financial Counseling Fees (see also Retirement planning services) Investment income, Business and Investment Income, More information. Amending my 2012 tax return IRAs (see Individual retirement arrangements (IRAs)) Iron ore, Coal and iron ore. Amending my 2012 tax return Itemized deductions Limited, Itemized deductions limited. Amending my 2012 tax return Recoveries, Recoveries, Itemized Deduction Recoveries J Job interview expenses, Job interview expenses. Amending my 2012 tax return Joint returns Social security benefits or railroad retirement payments, Joint return. Amending my 2012 tax return Joint state/local tax return Recoveries, Joint state or local income tax return. Amending my 2012 tax return Jury duty pay, Jury duty. Amending my 2012 tax return K Kickbacks, Kickbacks. Amending my 2012 tax return L Labor unions Convention expenses, reimbursed, Reimbursed union convention expenses. Amending my 2012 tax return Dues, Union benefits and dues. Amending my 2012 tax return Strike and lockout benefits, Strike and lockout benefits. Amending my 2012 tax return Unemployment benefits paid from, Payments by a union. Amending my 2012 tax return Last day of tax year, income received on, Constructively received income. Amending my 2012 tax return Leave (see Accrued leave payment) Length-of-service awards, Employee achievement award. Amending my 2012 tax return Life insurance Employer-owned, Employer-owned life insurance contract. Amending my 2012 tax return Proceeds, Life Insurance Proceeds Surrender of policy for cash, Surrender of policy for cash. Amending my 2012 tax return Loans, Discounted mortgage loan. Amending my 2012 tax return (see also Mortgage) Below-market, Below-market loans. Amending my 2012 tax return Student, Student loans. Amending my 2012 tax return Lockout benefits, Strike and lockout benefits. Amending my 2012 tax return Lodging Campus lodging, Qualified campus lodging. Amending my 2012 tax return , Moving Expense Reimbursements Clergy, Housing Employer-paid or reimbursed, Meals and Lodging Faculty lodging, Faculty lodging. Amending my 2012 tax return Replacement housing payments, Replacement housing payments. Amending my 2012 tax return Long-term care insurance, Long-term care coverage. Amending my 2012 tax return , Long-Term Care Insurance Contracts Lotteries and raffles, Lotteries and raffles. Amending my 2012 tax return Lump-sum distributions Survivor benefits, Lump-sum payments. Amending my 2012 tax return M Manufacturer incentive payments, Manufacturer incentive payments. Amending my 2012 tax return Meals Employer-paid or reimbursed, Meals and Lodging Nutrition Program for the Elderly, Nutrition Program for the Elderly. Amending my 2012 tax return Medical Care reimbursements, Reimbursement for medical care. Amending my 2012 tax return Savings accounts, Medical savings accounts (Archer MSAs and Medicare Advantage MSAs). Amending my 2012 tax return Medicare Advantage MSAs, Medical savings accounts (Archer MSAs and Medicare Advantage MSAs). Amending my 2012 tax return Benefits, Medicare. Amending my 2012 tax return Tax paid by employer, Social security and Medicare taxes paid by employer. Amending my 2012 tax return Medicare tax (see Social security and Medicare taxes) Military (see Armed forces) Minerals Royalties from, Oil, gas, and minerals. Amending my 2012 tax return Miscellaneous Compensation, Miscellaneous Compensation Income, Miscellaneous Income Missing children, photographs of, Reminders Mortgage Assistance payment (under sec. Amending my 2012 tax return 235 of National Housing Act), Mortgage assistance payments under section 235 of the National Housing Act. Amending my 2012 tax return Discounted loan, Discounted mortgage loan. Amending my 2012 tax return Interest refund, Mortgage interest refund. Amending my 2012 tax return Qualified principal residence indebtedness, Qualified principal residence indebtedness (QPRI). Amending my 2012 tax return Relief, Mortgage relief upon sale or other disposition. Amending my 2012 tax return Motor vehicle, employer-provided, Employer-provided vehicles. Amending my 2012 tax return Moving expenses Reimbursements, Allowances and reimbursements. Amending my 2012 tax return , Moving expense reimbursements. Amending my 2012 tax return MSAs (Medical savings accounts), Medical savings accounts (Archer MSAs and Medicare Advantage MSAs). Amending my 2012 tax return N National Health Service Corps Scholarship Program, Tuition Reduction National Oceanic and Atmospheric Administration, Service-connected disability. Amending my 2012 tax return National Senior Service Corps, National Senior Service Corps programs. Amending my 2012 tax return No-additional-cost services, No-Additional-Cost Services No-fault car insurance Disability benefits under, Other compensation. Amending my 2012 tax return Nobel prize, Pulitzer, Nobel, and similar prizes. Amending my 2012 tax return Nonrecourse debt, Mortgage relief upon sale or other disposition. Amending my 2012 tax return Nonstatutory stock options, Nonstatutory Stock Options Nontaxable income, Introduction Not-for-profit activities, Activity not for profit. Amending my 2012 tax return Notary fees, Notary public. Amending my 2012 tax return Notes received for services, Note received for services. Amending my 2012 tax return Nutrition Program for the Elderly, Nutrition Program for the Elderly. Amending my 2012 tax return O Oil Royalties from, Oil, gas, and minerals. Amending my 2012 tax return Old-age, survivors, and disability insurance benefits (OASDI), Old-age, survivors, and disability insurance benefits (OASDI). Amending my 2012 tax return Options, stock, Stock Options, Statutory Stock Options Outplacement services, Outplacement services. Amending my 2012 tax return Overseas work, Reminders P Parking fees Employer-paid or reimbursed, Transportation, Qualified parking. Amending my 2012 tax return Partner and partnership income, Partnership Income Patents Infringement damages, Court awards and damages. Amending my 2012 tax return Royalties, Copyrights and patents. Amending my 2012 tax return Peace Corps, Peace Corps. Amending my 2012 tax return Pensions Clergy, Pension. Amending my 2012 tax return Disability pensions, Disability Pensions Inherited pensions, Inherited pension or IRA. Amending my 2012 tax return Military, Military retirement pay. Amending my 2012 tax return Personal property Rental income and expense, Rents From Personal Property Sale of, Sale of personal items. Amending my 2012 tax return Personal representatives (see Fiduciaries) Prepaid income, Prepaid income. Amending my 2012 tax return Price reduced after purchase, Price reduced after purchase. Amending my 2012 tax return Prizes and awards, Bonuses and awards. Amending my 2012 tax return , Prizes and awards. Amending my 2012 tax return Achievement awards, Employee achievement award. Amending my 2012 tax return Employee awards or bonuses, Employee awards or bonuses. Amending my 2012 tax return Length-of-service awards, Employee achievement award. Amending my 2012 tax return Pulitzer, Nobel, and similar prizes, Pulitzer, Nobel, and similar prizes. Amending my 2012 tax return Safety achievement, Employee achievement award. Amending my 2012 tax return Scholarship prizes, Prizes. Amending my 2012 tax return Profit-sharing plan, Retirement and profit-sharing plans. Amending my 2012 tax return Public assistance benefits, Welfare and Other Public Assistance Benefits Public Health Service, Service-connected disability. Amending my 2012 tax return Public safety officers killed in line of duty, Public safety officer killed in the line of duty. Amending my 2012 tax return Public transportation passes, employer-provided, Transportation, Transit pass. Amending my 2012 tax return Publications (see Tax help) Pulitzer prize, Pulitzer, Nobel, and similar prizes. Amending my 2012 tax return Punitive damages, Court awards and damages. Amending my 2012 tax return Q Qualified joint venture, Reminders Qualified tuition program (QTP), Qualified tuition program (QTP). Amending my 2012 tax return R Raffles, Lotteries and raffles. Amending my 2012 tax return Railroad Retirement annuities, Railroad retirement annuities. Amending my 2012 tax return Retirement benefits, Social security and equivalent railroad retirement benefits. Amending my 2012 tax return Sick pay, Railroad sick pay. Amending my 2012 tax return Unemployment compensation benefits, Types of unemployment compensation. Amending my 2012 tax return Real estate Qualified real property business debt, cancellation of, Excluded debt. Amending my 2012 tax return Rebates Cash, Cash rebates. Amending my 2012 tax return Utility, Utility rebates. Amending my 2012 tax return Recovery of amounts previously deducted, Recoveries, Standard deduction for earlier years. Amending my 2012 tax return Itemized deductions, Recoveries, Itemized Deduction Recoveries Non-itemized deductions, Non-Itemized Deduction Recoveries Unused tax credits, refiguring of, Unused tax credits. Amending my 2012 tax return , Unused tax credits. Amending my 2012 tax return Refunds Federal income tax, Federal income tax refund. Amending my 2012 tax return Mortgage interest, Mortgage interest refund. Amending my 2012 tax return State tax, State tax refund. Amending my 2012 tax return Rehabilitative program payments, Veterans' benefits. Amending my 2012 tax return Reimbursements Business expenses, Allowances and reimbursements. Amending my 2012 tax return Casualty losses, Casualty insurance and other reimbursements. Amending my 2012 tax return Meals and lodging, Meals and Lodging Medical expenses, Reimbursement for medical care. Amending my 2012 tax return Moving expenses, Allowances and reimbursements. Amending my 2012 tax return , Moving expense reimbursements. Amending my 2012 tax return Related party transactions Stock option transfer, Transfer in non-arm's-length transaction. Amending my 2012 tax return Religious order members, Members of Religious Orders Rental income and expenses Personal property rental, Rents From Personal Property Reporting of, Reporting business income and expenses. Amending my 2012 tax return Repayments, Repayments, Year of deduction (or credit). Amending my 2012 tax return Repossession, Canceled sales contract. Amending my 2012 tax return Restricted property, Restricted Property, Inherited property not substantially vested. Amending my 2012 tax return Retired Senior Volunteer Program (RSVP), National Senior Service Corps programs. Amending my 2012 tax return Retirement Settlement, Reminders Retirement planning services, Financial Counseling Fees, Retirement Planning Services Retirement plans, Military retirement pay. Amending my 2012 tax return (see also Pensions) Automatic contribution arrangements, Qualified automatic contribution arrangements. Amending my 2012 tax return Contributions, Retirement Plan Contributions, Excess Annual Additions, Statutory Stock Options Elective deferrals (see Elective deferrals) Rewards, Rewards. Amending my 2012 tax return Roth contributions, Designated Roth contributions. Amending my 2012 tax return Royalties, Royalties S S corporations, S Corporation Income Safety achievement awards, Employee achievement award. Amending my 2012 tax return Salary reduction simplified employee pension plans (see SARSEPs) Sale of home, Sale of home. Amending my 2012 tax return Sales contracts Cancellation of, Canceled sales contract. Amending my 2012 tax return SARSEPs, Elective Deferrals Excess contributions, Excess Contributions Savings bonds, Interest on qualified savings bonds. Amending my 2012 tax return Savings incentive match plans for employees (see SIMPLE plans) Scholarships and fellowships, Scholarships and fellowships. Amending my 2012 tax return Self-employed persons U. Amending my 2012 tax return S. Amending my 2012 tax return citizens working for foreign employers in U. Amending my 2012 tax return S. Amending my 2012 tax return treated as, Social security and Medicare taxes. Amending my 2012 tax return Senior Companion Program, National Senior Service Corps programs. Amending my 2012 tax return Service Corps of Retired Executives (SCORE), Service Corps of Retired Executives (SCORE). Amending my 2012 tax return Severance pay, Severance pay. Amending my 2012 tax return Outplacement services, Outplacement services. Amending my 2012 tax return Sick pay, Sick pay. Amending my 2012 tax return Sickness and injury benefits, Sickness and Injury Benefits, Reimbursement for medical care. Amending my 2012 tax return SIMPLE plans, Elective Deferrals Limit for deferrals under, Limit for deferrals under SIMPLE plans. Amending my 2012 tax return Smallpox vaccine injuries, Smallpox vaccine injuries. Amending my 2012 tax return Social security and Medicare taxes Foreign employers, U. Amending my 2012 tax return S. Amending my 2012 tax return citizens working for in U. Amending my 2012 tax return S. Amending my 2012 tax return , Social security and Medicare taxes. Amending my 2012 tax return Paid by employer, Social security and Medicare taxes paid by employer. Amending my 2012 tax return Social security benefits, Social security and equivalent railroad retirement benefits. Amending my 2012 tax return Standard deduction Recoveries, Standard deduction limit. Amending my 2012 tax return , Standard deduction for earlier years. Amending my 2012 tax return State employees Unemployment benefits paid to, State employees. Amending my 2012 tax return State or local governments Interest on obligations of, Interest on state and local government obligations. Amending my 2012 tax return State or local taxes Refunds, State tax refund. Amending my 2012 tax return Statutory stock option holding period, Sale of the stock. Amending my 2012 tax return Stock appreciation rights, Stock appreciation rights. Amending my 2012 tax return Stock options, Stock Options, Statutory Stock Options Stock options, nonstatutory Exercise or transfer, Exercise or transfer of option. Amending my 2012 tax return Grant, Grant of option. Amending my 2012 tax return Sale, Sale of the stock. Amending my 2012 tax return Stock options, statutory Exercise, Exercise of option. Amending my 2012 tax return Grant, Grant of option. Amending my 2012 tax return Sale, Sale of the stock. Amending my 2012 tax return Stockholder debts, Stockholder debt. Amending my 2012 tax return Stolen property, Stolen property. Amending my 2012 tax return Strike benefits, Strike and lockout benefits. Amending my 2012 tax return Student loans Cancellation of debt, Student loans. Amending my 2012 tax return Substantial risk of forfeiture, Substantial risk of forfeiture. Amending my 2012 tax return Substantially vested property, Substantially vested. Amending my 2012 tax return Supplemental security income (SSI) payments, Social security and equivalent railroad retirement benefits. Amending my 2012 tax return Supplemental unemployment benefits, Supplemental unemployment benefits. Amending my 2012 tax return Surviving spouse Life insurance proceeds paid to, Surviving spouse. Amending my 2012 tax return Survivor benefits, Survivor Benefits T Tables and figures Group-term life insurance (Table 1), Group-Term Life Insurance Tax benefit rule, Tax benefit rule. Amending my 2012 tax return Tax Counseling for the Elderly, Volunteer tax counseling. Amending my 2012 tax return Tax help, How To Get Tax Help Tax-sheltered annuity plans (403(b) plans), Elective Deferrals Limit for, Limit for tax-sheltered annuities. Amending my 2012 tax return Terminal illness, Exclusion for terminal illness. Amending my 2012 tax return Terrorist attacks Disability payments for injuries from, Terrorist attack or military action. Amending my 2012 tax return Victims of, tax relief, Reminders Thrift Savings Plan, Elective Deferrals Title VII, Civil Rights Act of 1964 Back pay and damages for emotional distress under, Court awards and damages. Amending my 2012 tax return Tour guides, free tours for, Free tour. Amending my 2012 tax return Trade Act of 1974 Trade readjustment allowances under, Types of unemployment compensation. Amending my 2012 tax return , Repayment of benefits. Amending my 2012 tax return Transferable property, Transferable property. Amending my 2012 tax return Transit passes, Transportation, Transit pass. Amending my 2012 tax return Travel agencies Free tour to organizer of group of tourists, Free tour. Amending my 2012 tax return Travel and transportation expenses Free tours from travel agencies, Free tour. Amending my 2012 tax return Fringe benefits, Transportation Reimbursements, Allowances and reimbursements. Amending my 2012 tax return School children, transporting of, Transporting school children. Amending my 2012 tax return Trusts Grantor trusts, Grantor trust. Amending my 2012 tax return Income, Estate and trust income. Amending my 2012 tax return Tuition program, qualified (QTP), Qualified tuition program (QTP). Amending my 2012 tax return Tuition reduction, Tuition Reduction U Unemployment compensation, Unemployment Benefits Unions (see Labor unions) Unlawful discrimination suits Deduction for costs, Deduction for costs involved in unlawful discrimination suits. Amending my 2012 tax return V VA payments, VA payments. Amending my 2012 tax return Valuation Fringe benefits, Valuation of Fringe Benefits, Special valuation rules. Amending my 2012 tax return Stock options, Nonstatutory Stock Options Vehicle Commuter highway, Commuter highway vehicle. Amending my 2012 tax return Employer-provided, Employer-provided vehicles. Amending my 2012 tax return Veterans benefits, Veterans' benefits. Amending my 2012 tax return Disability compensation, Retroactive VA determination. Amending my 2012 tax return Retroactive VA determination, Retroactive VA determination. Amending my 2012 tax return Special statute of limitations. Amending my 2012 tax return , Special statute of limitations. Amending my 2012 tax return Viatical settlements, Viatical settlement. Amending my 2012 tax return Volunteer work, Volunteers Tax counseling (Volunteer Income Tax Assistance Program), Volunteer tax counseling. Amending my 2012 tax return Volunteers in Service to America (VISTA), Volunteers in Service to America (VISTA). Amending my 2012 tax return W W-2 form (see Form W-2) Welfare benefits, Welfare and Other Public Assistance Benefits Whistleblower, Whistleblower's award. Amending my 2012 tax return Winter energy payments, Payments to reduce cost of winter energy. Amending my 2012 tax return Withholding Barter exchange transactions, Backup withholding. Amending my 2012 tax return Unemployment compensation, Tax withholding. Amending my 2012 tax return Work-training programs, Work-training program. Amending my 2012 tax return Workers' compensation, Workers' Compensation Working condition benefits, Working Condition Benefits Worksheets Group-term life insurance (Worksheet 1), Figuring the taxable cost. Amending my 2012 tax return , Worksheet 1. Amending my 2012 tax return Figuring the Cost of Group-Term Life Insurance To Include in Income—Illustrated Prev  Up     Home   More Online Publications
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The Amending My 2012 Tax Return

Amending my 2012 tax return 9. Amending my 2012 tax return   Dispositions of Property Used in Farming Table of Contents Introduction Topics - This chapter discusses: Useful Items - You may want to see: Section 1231 Gains and LossesNonrecaptured section 1231 losses. Amending my 2012 tax return Depreciation RecaptureSection 1245 Property Section 1250 Property Installment Sale Other Dispositions Other GainsExceptions. Amending my 2012 tax return Amount to report as ordinary income. Amending my 2012 tax return Applicable percentage. Amending my 2012 tax return Amount to report as ordinary income. Amending my 2012 tax return Applicable percentage. Amending my 2012 tax return Introduction When you dispose of property used in your farm business, your taxable gain or loss is usually treated as ordinary income (which is taxed at the same rates as wages and interest income) or capital gain (which is generally taxed at lower rates) under the rules for section 1231 transactions. Amending my 2012 tax return When you dispose of depreciable property (section 1245 property or section 1250 property) at a gain, you may have to recognize all or part of the gain as ordinary income under the depreciation recapture rules. Amending my 2012 tax return Any gain remaining after applying the depreciation recapture rules is a section 1231 gain, which may be taxed as a capital gain. Amending my 2012 tax return Gains and losses from property used in farming are reported on Form 4797, Sales of Business Property. Amending my 2012 tax return Table 9-1 contains examples of items reported on Form 4797 and refers to the part of that form on which they first should be reported. Amending my 2012 tax return Topics - This chapter discusses: Section 1231 gains and losses Depreciation recapture Other gains Useful Items - You may want to see: Publication 544 Sales and Other Dispositions of Assets Form (and Instructions) 4797 Sales of Business Property See chapter 16 for information about getting publications and forms. Amending my 2012 tax return Section 1231 Gains and Losses Section 1231 gains and losses are the taxable gains and losses from section 1231 transactions (explained below). Amending my 2012 tax return Their treatment as ordinary or capital gains depends on whether you have a net gain or a net loss from all of your section 1231 transactions in the tax year. Amending my 2012 tax return Table 9-1. Amending my 2012 tax return Where to First Report Certain Items on Form 4797 Type of property Held 1 year  or less Held more than  1 year 1 Depreciable trade or business property:       a Sold or exchanged at a gain Part II Part III (1245, 1250)   b Sold or exchanged at a loss Part II Part I 2 Farmland held less than 10 years for which soil, water, or land clearing expenses were deducted:       a Sold at a gain Part II Part III (1252)   b Sold at a loss Part II Part I 3 All other farmland Part II Part I 4 Disposition of cost-sharing payment property described in section 126 Part II Part III (1255) 5 Cattle and horses used in a trade or business for draft, breeding, dairy, or sporting purposes: Held less  than 24 mos. Amending my 2012 tax return Held 24 mos. Amending my 2012 tax return  or more   a Sold at a gain Part II Part III (1245)   b Sold at a loss Part II Part I   c Raised cattle and horses sold at a gain Part II Part I 6 Livestock other than cattle and horses used in a trade or business for draft, breeding, dairy, or sporting purposes: Held less  than 12 mos. Amending my 2012 tax return Held 12 mos. Amending my 2012 tax return   or more   a Sold at a gain Part II Part III (1245)   b Sold at a loss Part II Part I   c Raised livestock sold at a gain Part II Part I If you have a gain from a section 1231 transaction, first determine whether any of the gain is ordinary income under the depreciation recapture rules (explained later). Amending my 2012 tax return Do not take that gain into account as section 1231 gain. Amending my 2012 tax return Section 1231 transactions. Amending my 2012 tax return   Gain or loss on the following transactions is subject to section 1231 treatment. Amending my 2012 tax return Sale or exchange of cattle and horses. Amending my 2012 tax return The cattle and horses must be held for draft, breeding, dairy, or sporting purposes and held for 24 months or longer. Amending my 2012 tax return Sale or exchange of other livestock. Amending my 2012 tax return This livestock must be held for draft, breeding, dairy, or sporting purposes and held for 12 months or longer. Amending my 2012 tax return Other livestock includes hogs, mules, sheep, goats, donkeys, and other fur-bearing animals. Amending my 2012 tax return Other livestock does not include poultry. Amending my 2012 tax return Sale or exchange of depreciable personal property. Amending my 2012 tax return This property must be used in your business and held longer than 1 year. Amending my 2012 tax return Generally, property held for the production of rents or royalties is considered to be used in a trade or business. Amending my 2012 tax return Examples of depreciable personal property include farm machinery and trucks. Amending my 2012 tax return It also includes amortizable section 197 intangibles. Amending my 2012 tax return Sale or exchange of real estate. Amending my 2012 tax return This property must be used in your business and held longer than 1 year. Amending my 2012 tax return Examples are your farm or ranch (including barns and sheds). Amending my 2012 tax return Sale or exchange of unharvested crops. Amending my 2012 tax return The crop and land must be sold, exchanged, or involuntarily converted at the same time and to the same person, and the land must have been held longer than 1 year. Amending my 2012 tax return You cannot keep any right or option to reacquire the land directly or indirectly (other than a right customarily incident to a mortgage or other security transaction). Amending my 2012 tax return Growing crops sold with a leasehold on the land, even if sold to the same person in a single transaction, are not included. Amending my 2012 tax return Distributive share of partnership gains and losses. Amending my 2012 tax return Your distributive share must be from the sale or exchange of property listed above and held longer than 1 year (or for the required period for certain livestock). Amending my 2012 tax return Cutting or disposal of timber. Amending my 2012 tax return Special rules apply if you owned the timber longer than 1 year and elect to treat timber cutting as a sale or exchange, or you enter into a cutting contract, as described in chapter 8 under Timber . Amending my 2012 tax return Condemnation. Amending my 2012 tax return The condemned property (defined in chapter 11) must have been held longer than 1 year. Amending my 2012 tax return It must be business property or a capital asset held in connection with a trade or business or a transaction entered into for profit, such as investment property. Amending my 2012 tax return It cannot be property held for personal use. Amending my 2012 tax return Casualty or theft. Amending my 2012 tax return The casualty or theft must have affected business property, property held for the production of rents or royalties, or investment property (such as notes and bonds). Amending my 2012 tax return You must have held the property longer than 1 year. Amending my 2012 tax return However, if your casualty or theft losses are more than your casualty or theft gains, neither the gains nor the losses are taken into account in the section 1231 computation. Amending my 2012 tax return Section 1231 does not apply to personal casualty gains and losses. Amending my 2012 tax return See chapter 11 for information on how to treat those gains and losses. Amending my 2012 tax return If the property is not held for the required holding period, the transaction is not subject to section 1231 treatment, and any gain or loss is ordinary income reported in Part II of Form 4797. Amending my 2012 tax return See Table 9-1. Amending my 2012 tax return Property for sale to customers. Amending my 2012 tax return   A sale, exchange, or involuntary conversion of property held mainly for sale to customers is not a section 1231 transaction. Amending my 2012 tax return If you will get back all, or nearly all, of your investment in the property by selling it rather than by using it up in your business, it is property held mainly for sale to customers. Amending my 2012 tax return Treatment as ordinary or capital. Amending my 2012 tax return   To determine the treatment of section 1231 gains and losses, combine all of your section 1231 gains and losses for the year. Amending my 2012 tax return If you have a net section 1231 loss, it is an ordinary loss. Amending my 2012 tax return If you have a net section 1231 gain, it is ordinary income up to your nonrecaptured section 1231 losses from previous years, explained next. Amending my 2012 tax return The rest, if any, is long-term capital gain. Amending my 2012 tax return Nonrecaptured section 1231 losses. Amending my 2012 tax return   Your nonrecaptured section 1231 losses are your net section 1231 losses for the previous 5 years that have not been applied against a net section 1231 gain by treating the gain as ordinary income. Amending my 2012 tax return These losses are applied against your net section 1231 gain beginning with the earliest loss in the 5-year period. Amending my 2012 tax return Example. Amending my 2012 tax return In 2013, Ben has a $2,000 net section 1231 gain. Amending my 2012 tax return To figure how much he has to report as ordinary income and long-term capital gain, he must first determine his section 1231 gains and losses from the previous 5-year period. Amending my 2012 tax return From 2008 through 2012 he had the following section 1231 gains and losses. Amending my 2012 tax return Year Amount 2008 -0- 2009 -0- 2010 ($2,500) 2011 -0- 2012 $1,800   Ben uses this information to figure how to report his net section 1231 gain for 2013 as shown below. Amending my 2012 tax return 1) Net section 1231 gain (2013) $2,000 2) Net section 1231 loss (2010) ($2,500)   3) Net section 1231 gain (2012) 1,800   4) Remaining net section 1231 loss from prior 5 years ($700)   5) Gain treated as  ordinary income $700 6) Gain treated as long-term  capital gain $1,300 His remaining net section 1231 loss from 2010 is completely recaptured in 2013. Amending my 2012 tax return Depreciation Recapture If you dispose of depreciable or amortizable property at a gain, you may have to treat all or part of the gain (even if it is otherwise nontaxable) as ordinary income. Amending my 2012 tax return To figure any gain that must be reported as ordinary income, you must keep permanent records of the facts necessary to figure the depreciation or amortization allowed or allowable on your property. Amending my 2012 tax return For more information, see chapter 3 of Publication 544. Amending my 2012 tax return Section 1245 Property A gain on the disposition of section 1245 property is treated as ordinary income to the extent of depreciation allowed or allowable. Amending my 2012 tax return Any recognized gain that is more than the part that is ordinary income is a section 1231 gain. Amending my 2012 tax return See Treatment as ordinary or capital under Section 1231 Gains and Losses , earlier. Amending my 2012 tax return Section 1245 property includes any property that is or has been subject to an allowance for depreciation or amortization and that is any of the following types of property. Amending my 2012 tax return Personal property (either tangible or intangible). Amending my 2012 tax return Other tangible property (except buildings and their structural components) used as any of the following. Amending my 2012 tax return See Buildings and structural components below. Amending my 2012 tax return An integral part of manufacturing, production, or extraction, or of furnishing certain services. Amending my 2012 tax return A research facility in any of the activities in (a). Amending my 2012 tax return A facility in any of the activities in (a) above, for the bulk storage of fungible commodities (discussed later). Amending my 2012 tax return That part of real property (not included in (2)) with an adjusted basis reduced by (but not limited to) the following. Amending my 2012 tax return Amortization of certified pollution control facilities. Amending my 2012 tax return The section 179 expense deduction. Amending my 2012 tax return Deduction for clean-fuel vehicles and certain refueling property. Amending my 2012 tax return Expenditures to remove architectural and transportation barriers to the handicapped and elderly. Amending my 2012 tax return Certain reforestation expenditures (as described under Reforestation Costs in chapter 7. Amending my 2012 tax return Single purpose agricultural (livestock) or horticultural structures. Amending my 2012 tax return Storage facilities (except buildings and their structural components) used in distributing petroleum or any primary product of petroleum. Amending my 2012 tax return Buildings and structural components. Amending my 2012 tax return   Section 1245 property does not include buildings and structural components. Amending my 2012 tax return The term building includes a house, barn, warehouse, or garage. Amending my 2012 tax return The term structural component includes walls, floors, windows, doors, central air conditioning systems, light fixtures, etc. Amending my 2012 tax return   Do not treat a structure that is essentially machinery or equipment as a building or structural component. Amending my 2012 tax return Also, do not treat a structure that houses property used as an integral part of an activity as a building or structural component if the structure's use is so closely related to the property's use that the structure can be expected to be replaced when the property it initially houses is replaced. Amending my 2012 tax return   The fact that the structure is specially designed to withstand the stress and other demands of the property and cannot be used economically for other purposes indicates it is closely related to the use of the property it houses. Amending my 2012 tax return Structures such as oil and gas storage tanks, grain storage bins, and silos are not treated as buildings, but as section 1245 property. Amending my 2012 tax return Facility for bulk storage of fungible commodities. Amending my 2012 tax return   This is a facility used mainly for the bulk storage of fungible commodities. Amending my 2012 tax return Bulk storage means storage of a commodity in a large mass before it is used. Amending my 2012 tax return For example, if a facility is used to store oranges that have been sorted and boxed, it is not used for bulk storage. Amending my 2012 tax return To be fungible, a commodity must be such that one part may be used in place of another. Amending my 2012 tax return Gain Treated as Ordinary Income The gain treated as ordinary income on the sale, exchange, or involuntary conversion of section 1245 property, including a sale and leaseback transaction, is the lesser of the following amounts. Amending my 2012 tax return The depreciation (which includes any section 179 deduction claimed) and amortization allowed or allowable on the property. Amending my 2012 tax return The gain realized on the disposition (the amount realized from the disposition minus the adjusted basis of the property). Amending my 2012 tax return For any other disposition of section 1245 property, ordinary income is the lesser of (1) above or the amount by which its fair market value (FMV) is more than its adjusted basis. Amending my 2012 tax return For details, see chapter 3 of Publication 544. Amending my 2012 tax return Use Part III of Form 4797 to figure the ordinary income part of the gain. Amending my 2012 tax return Depreciation claimed on other property or claimed by other taxpayers. Amending my 2012 tax return   Depreciation and amortization include the amounts you claimed on the section 1245 property as well as the following depreciation and amortization amounts. Amending my 2012 tax return Amounts you claimed on property you exchanged for, or converted to, your section 1245 property in a like-kind exchange or involuntary conversion. Amending my 2012 tax return For details on exchanges of property that are not taxable, see Like-Kind Exchanges in chapter 8. Amending my 2012 tax return Amounts a previous owner of the section 1245 property claimed if your basis is determined with reference to that person's adjusted basis (for example, the donor's depreciation deductions on property you received as a gift and part of the transfer is a sale or exchange). Amending my 2012 tax return Example. Amending my 2012 tax return Jeff Free paid $120,000 for a tractor in 2012. Amending my 2012 tax return On February 23, 2013, he traded it for a chopper and paid an additional $30,000. Amending my 2012 tax return To figure his depreciation deduction on the chopper for the current year, Jeff continues to use the basis of the tractor as he would have before the trade. Amending my 2012 tax return Jeff can also depreciate the additional $30,000 for the chopper. Amending my 2012 tax return Depreciation and amortization. Amending my 2012 tax return   Depreciation and amortization deductions that must be recaptured as ordinary income include (but are not limited to) the following items. Amending my 2012 tax return See Depreciation Recapture in chapter 3 of Publication 544 for more details. Amending my 2012 tax return Ordinary depreciation deductions. Amending my 2012 tax return Section 179 deduction (see chapter 7). Amending my 2012 tax return Any special depreciation allowance. Amending my 2012 tax return Amortization deductions for all the following costs. Amending my 2012 tax return Acquiring a lease. Amending my 2012 tax return Lessee improvements. Amending my 2012 tax return Pollution control facilities. Amending my 2012 tax return Reforestation expenses. Amending my 2012 tax return Section 197 intangibles. Amending my 2012 tax return Qualified disaster expenses. Amending my 2012 tax return Franchises, trademarks, and trade names acquired before August 11, 1993. Amending my 2012 tax return Example. Amending my 2012 tax return You file your returns on a calendar year basis. Amending my 2012 tax return In February 2011, you bought and placed in service for 100% use in your farming business a light-duty truck (5-year property) that cost $10,000. Amending my 2012 tax return You used the half-year convention and your MACRS deductions for the truck were $1,500 in 2011 and $2,550 in 2012. Amending my 2012 tax return You did not claim the section 179 expense deduction for the truck. Amending my 2012 tax return You sold it in May 2013 for $7,000. Amending my 2012 tax return The MACRS deduction in 2013, the year of sale, is $893 (½ of $1,785). Amending my 2012 tax return Figure the gain treated as ordinary income as follows. Amending my 2012 tax return 1) Amount realized $7,000 2) Cost (February 2011) $10,000   3) Depreciation allowed or allowable (MACRS deductions: $1,500 + $2,550 + $893) 4,943   4) Adjusted basis (subtract line 3 from line 2) $5,057 5) Gain realized (subtract line 4 from line 1) 1,943 6) Gain treated as ordinary income (lesser of line 3 or line 5) $1,943 Depreciation allowed or allowable. Amending my 2012 tax return   You generally use the greater of the depreciation allowed or allowable when figuring the part of gain to report as ordinary income. Amending my 2012 tax return If, in prior years, you have consistently taken proper deductions under one method, the amount allowed for your prior years will not be increased even though a greater amount would have been allowed under another proper method. Amending my 2012 tax return If you did not take any deduction at all for depreciation, your adjustments to basis for depreciation allowable are figured by using the straight line method. Amending my 2012 tax return This treatment applies only when figuring what part of the gain is treated as ordinary income under the rules for section 1245 depreciation recapture. Amending my 2012 tax return Disposition of plants and animals. Amending my 2012 tax return   If you elect not to use the uniform capitalization rules (see chapter 6), you must treat any plant you produce as section 1245 property. Amending my 2012 tax return If you have a gain on the property's disposition, you must recapture the pre-productive expenses you would have capitalized if you had not made the election by treating the gain, up to the amount of these expenses, as ordinary income. Amending my 2012 tax return For section 1231 transactions, show these expenses as depreciation on Form 4797, Part III, line 22. Amending my 2012 tax return For plant sales that are reported on Schedule F (1040), Profit or Loss From Farming, this recapture rule does not change the reporting of income because the gain is already ordinary income. Amending my 2012 tax return You can use the farm-price method or the unit-livestock-price method discussed in  chapter 2 to figure these expenses. Amending my 2012 tax return Example. Amending my 2012 tax return Janet Maple sold her apple orchard in 2013 for $80,000. Amending my 2012 tax return Her adjusted basis at the time of sale was $60,000. Amending my 2012 tax return She bought the orchard in 2006, but the trees did not produce a crop until 2009. Amending my 2012 tax return Her pre-productive expenses were $6,000. Amending my 2012 tax return She elected not to use the uniform capitalization rules. Amending my 2012 tax return Janet must treat $6,000 of the gain as ordinary income. Amending my 2012 tax return Section 1250 Property Section 1250 property includes all real property subject to an allowance for depreciation that is not and never has been section 1245 property. Amending my 2012 tax return It includes buildings and structural components that are not section 1245 property (discussed earlier). Amending my 2012 tax return It includes a leasehold of land or section 1250 property subject to an allowance for depreciation. Amending my 2012 tax return A fee simple interest in land is not section 1250 property because, like land, it is not depreciable. Amending my 2012 tax return Gain on the disposition of section 1250 property is treated as ordinary income to the extent of additional depreciation allowed or allowable. Amending my 2012 tax return To determine the additional depreciation on section 1250 property, see Depreciation Recapture in chapter 3 of Publication 544. Amending my 2012 tax return You will not have additional depreciation if any of the following apply to the property disposed of. Amending my 2012 tax return You figured depreciation for the property using the straight line method or any other method that does not result in depreciation that is more than the amount figured by the straight line method and you have held the property longer than 1 year. Amending my 2012 tax return You chose the alternate ACRS (straight line) method for the property, which was a type of 15-, 18-, or 19-year real property covered by the section 1250 rules. Amending my 2012 tax return The property was nonresidential real property placed in service after 1986 (or after July 31, 1986, if the choice to use MACRS was made) and you held it longer than 1 year. Amending my 2012 tax return These properties are depreciated using the straight line method. Amending my 2012 tax return Installment Sale If you report the sale of property under the installment method, any depreciation recapture under section 1245 or 1250 is taxable as ordinary income in the year of sale. Amending my 2012 tax return This applies even if no payments are received in that year. Amending my 2012 tax return If the gain is more than the depreciation recapture income, report the rest of the gain using the rules of the installment method. Amending my 2012 tax return For this purpose, include the recapture income in your installment sale basis to determine your gross profit on the installment sale. Amending my 2012 tax return If you dispose of more than one asset in a single transaction, you must separately figure the gain on each asset so that it may be properly reported. Amending my 2012 tax return To do this, allocate the selling price and the payments you receive in the year of sale to each asset. Amending my 2012 tax return Report any depreciation recapture income in the year of sale before using the installment method for any remaining gain. Amending my 2012 tax return For more information on installment sales, see chapter 10. Amending my 2012 tax return Other Dispositions Chapter 3 of Publication 544 discusses the tax treatment of the following transfers of depreciable property. Amending my 2012 tax return By gift. Amending my 2012 tax return At death. Amending my 2012 tax return In like-kind exchanges. Amending my 2012 tax return In involuntary conversions. Amending my 2012 tax return Publication 544 also explains how to handle a single transaction involving multiple properties. Amending my 2012 tax return Other Gains This section discusses gain on the disposition of farmland for which you were allowed either of the following. Amending my 2012 tax return Deductions for soil and water conservation expenditures (section 1252 property). Amending my 2012 tax return Exclusions from income for certain cost sharing payments (section 1255 property). Amending my 2012 tax return Section 1252 property. Amending my 2012 tax return   If you disposed of farmland you held more than 1 year and less than 10 years at a gain and you were allowed deductions for soil and water conservation expenses for the land, as discussed in chapter 5, you must treat part of the gain as ordinary income and treat the balance as section 1231 gain. Amending my 2012 tax return Exceptions. Amending my 2012 tax return   Do not treat gain on the following transactions as gain on section 1252 property. Amending my 2012 tax return Disposition of farmland by gift. Amending my 2012 tax return Transfer of farm property at death (except for income in respect of a decedent). Amending my 2012 tax return For more information, see Regulations section 1. Amending my 2012 tax return 1252-2. Amending my 2012 tax return Amount to report as ordinary income. Amending my 2012 tax return   You report as ordinary income the lesser of the following amounts. Amending my 2012 tax return Your gain (determined by subtracting the adjusted basis from the amount realized from a sale, exchange, or involuntary conversion, or the FMV for all other dispositions). Amending my 2012 tax return The total deductions allowed for soil and water conservation expenses multiplied by the applicable percentage, discussed next. Amending my 2012 tax return Applicable percentage. Amending my 2012 tax return   The applicable percentage is based on the length of time you held the land. Amending my 2012 tax return If you dispose of your farmland within 5 years after the date you acquired it, the percentage is 100%. Amending my 2012 tax return If you dispose of the land within the 6th through 9th year after you acquired it, the applicable percentage is reduced by 20% a year for each year or part of a year you hold the land after the 5th year. Amending my 2012 tax return If you dispose of the land 10 or more years after you acquired it, the percentage is 0%, and the entire gain is a section 1231 gain. Amending my 2012 tax return Example. Amending my 2012 tax return You acquired farmland on January 19, 2005. Amending my 2012 tax return On October 3, 2013, you sold the land at a $30,000 gain. Amending my 2012 tax return Between January 1 and October 3, 2013, you incur soil and water conservation expenditures of $15,000 for the land that are fully deductible in 2013. Amending my 2012 tax return The applicable percentage is 40% since you sold the land within the 8th year after you acquired it. Amending my 2012 tax return You treat $6,000 (40% of $15,000) of the $30,000 gain as ordinary income and the $24,000 balance as a section 1231 gain. Amending my 2012 tax return Section 1255 property. Amending my 2012 tax return   If you receive certain cost-sharing payments on property and you exclude those payments from income (as discussed in chapter 3), you may have to treat part of any gain as ordinary income and treat the balance as a section 1231 gain. Amending my 2012 tax return If you chose not to exclude these payments, you will not have to recognize ordinary income under this provision. Amending my 2012 tax return Amount to report as ordinary income. Amending my 2012 tax return   You report as ordinary income the lesser of the following amounts. Amending my 2012 tax return The applicable percentage of the total excluded cost-sharing payments. Amending my 2012 tax return The gain on the disposition of the property. Amending my 2012 tax return You do not report ordinary income under this rule to the extent the gain is recognized as ordinary income under sections 1231 through 1254, 1256, and 1257. Amending my 2012 tax return However, if applicable, gain reported under this rule must be reported regardless of any contrary provisions (including nonrecognition provisions) under any other section. Amending my 2012 tax return Applicable percentage. Amending my 2012 tax return   The applicable percentage of the excluded cost-sharing payments to be reported as ordinary income is based on the length of time you hold the property after receiving the payments. Amending my 2012 tax return If the property is held less than 10 years after you receive the payments, the percentage is 100%. Amending my 2012 tax return After 10 years, the percentage is reduced by 10% a year, or part of a year, until the rate is 0%. Amending my 2012 tax return Form 4797, Part III. Amending my 2012 tax return   Use Form 4797, Part III, to figure the ordinary income part of a gain from the sale, exchange, or involuntary conversion of section 1252 property and section 1255 property. 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