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Do College Students Have To File Taxes

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Do College Students Have To File Taxes

Do college students have to file taxes 2. Do college students have to file taxes   Estado Civil para Efectos de la Declaración Table of Contents Qué Hay de Nuevo Introduction Useful Items - You may want to see: Estado CivilPersonas divorciadas. Do college students have to file taxes Divorcio y nuevo matrimonio. Do college students have to file taxes Matrimonios anulados. Do college students have to file taxes Cabeza de familia o viudo que reúne los requisitos con hijo dependiente. Do college students have to file taxes Personas consideradas casadas. Do college students have to file taxes Matrimonio del mismo sexo. Do college students have to file taxes Cónyuge fallecido durante el año. Do college students have to file taxes Personas casadas que viven separadas. Do college students have to file taxes Soltero Casados que Presentan una Declaración ConjuntaPresentación de una Declaración Conjunta Casados que Presentan la Declaración por SeparadoReglas Especiales Cabeza de FamiliaPersonas Consideradas no Casadas Personas que Mantienen una Vivienda Persona Calificada Viudo que Reúne los Requisitos con Hijo Dependiente Qué Hay de Nuevo Estado civil para efectos de la declaración de parejas del mismo sexo. Do college students have to file taxes  Si tiene un cónyuge que es del mismo sexo de usted y con quien se casó en un estado (o país extranjero) que reconoce legalmente el matrimonio entre personas del mismo sexo, usted y su cónyuge, por lo general, tendrán que utilizar el estado civil para efectos de la declaración de “casado que presenta una declaración conjunta” o “casado que presenta una declaración por separado” en su declaración de impuestos que corresponde al año 2013, aun si usted y su cónyuge viven ahora en un estado (o país extranjero) que no reconoce legalmente el matrimonio entre personas del mismo sexo. Do college students have to file taxes Vea Matrimonio del mismo sexo bajo Estado Civil, más adelante. Do college students have to file taxes Introduction Este capítulo le ayuda a determinar qué estado civil debe usar para efectos de la declaración. Do college students have to file taxes Hay cinco estados civiles para efectos de la declaración: Soltero. Do college students have to file taxes Casado que presenta una declaración conjunta. Do college students have to file taxes Casado que presenta una declaración por separado. Do college students have to file taxes Cabeza de familia. Do college students have to file taxes Viudo que reúne los requisitos con hijo dependiente. Do college students have to file taxes Si reúne los requisitos para más de un estado civil, elija el que le permita pagar menos impuestos. Do college students have to file taxes Tiene que determinar su estado civil para efectos de la declaración antes de determinar si tiene que presentar una declaración de impuestos (capítulo 1), su deducción estándar (capítulo 20) y su impuesto correcto (capítulo 30). Do college students have to file taxes También utilizará el estado civil para determinar si reúne los requisitos o no para reclamar ciertas deducciones y créditos. Do college students have to file taxes Useful Items - You may want to see: Publicación 501 Exemptions, Standard Deduction, and Filing Information (Exenciones, deducción estándar e información para la presentación de la declaración), en inglés 519 U. Do college students have to file taxes S. Do college students have to file taxes Tax Guide for Aliens (Guía sobre los impuestos federales estadounidenses para extranjeros), en inglés 555 Community Property (Bienes gananciales), en inglés Estado Civil Por lo general, su estado civil para efectos de la declaración depende de si a usted se le considera casado o no casado. Do college students have to file taxes Personas no casadas. Do college students have to file taxes   Se le considera no casado durante todo el año si, en el último día de su año tributario, usted no está casado o está legalmente separado de su cónyuge por decreto de divorcio o de manutención por separación. Do college students have to file taxes La ley estatal es la que rige al determinar si está casado o legalmente separado por decreto de divorcio o de manutención por separación. Do college students have to file taxes Personas divorciadas. Do college students have to file taxes   Si está divorciado por decreto final de divorcio para el último día del año, a usted se le considera no casado por todo el año. Do college students have to file taxes Divorcio y nuevo matrimonio. Do college students have to file taxes   Si se divorcian con el fin exclusivo de presentar declaraciones de impuestos como no casados y en el momento de efectuarse el divorcio usted y su cónyuge tienen la intención de volverse a casar, y así lo hicieron en el año tributario siguiente, usted y su cónyuge están obligados a presentar la declaración como casados en los dos años. Do college students have to file taxes Matrimonios anulados. Do college students have to file taxes    Si obtiene de un tribunal un decreto de anulación de matrimonio que establezca que nunca existió matrimonio válido alguno, se le considera no casado aun si ha presentado declaraciones conjuntas en años anteriores. Do college students have to file taxes Tiene que presentar una declaración enmendada (Formulario 1040X, Amended U. Do college students have to file taxes S. Do college students have to file taxes Individual Income Tax Return (Declaración enmendada del impuesto federal sobre el ingreso)), en inglés, declarando su estado civil de soltero o cabeza de familia para todos los años tributarios afectados por la anulación de matrimonio que no estén excluídos por la ley de prescripción para presentar una declaración de impuestos. Do college students have to file taxes Por lo general, para un crédito o reembolso, tiene que presentar el Formulario 1040X dentro de 3 años (incluyendo extensiones) después de la fecha en que presentó su declaración original, o dentro de 2 años después de la fecha en que pagó el impuesto, lo que sea más tarde. Do college students have to file taxes Si presentó la declaración original con anticipación (por ejemplo, el 1 de marzo), se considera que su declaración se presentó en la fecha de vencimiento (por lo general el 15 de abril). Do college students have to file taxes Sin embargo, si tiene una extensión para presentar la declaración (por ejemplo, el 15 de octubre), pero la presentó con anticipación y la recibimos el 1 de julio, se considera que su declaración se presentó el 1 de julio. Do college students have to file taxes Cabeza de familia o viudo que reúne los requisitos con hijo dependiente. Do college students have to file taxes   Si a usted se le considera no casado, podría presentar la declaración como cabeza de familia o como viudo que reúne los requisitos con hijo dependiente. Do college students have to file taxes Vea Cabeza de Familia y Viudo que Reúne los Requisitos con Hijo Dependiente para saber si reúne los requisitos. Do college students have to file taxes Personas casadas. Do college students have to file taxes   Si se le considera casado, usted y su cónyuge pueden presentar una declaración conjunta o declaraciones por separado. Do college students have to file taxes Personas consideradas casadas. Do college students have to file taxes   A usted se le considera casado si, en el último día de su año tributario, usted y su cónyuge cumplen cualquiera de las siguientes condiciones: Están casados y viven juntos como cónyuges. Do college students have to file taxes Viven juntos por matrimonio de hecho reconocido en el estado en que viven o en el estado en que el matrimonio de hecho comenzó. Do college students have to file taxes Están casados y viven separados, pero no están legalmente separados por decreto de divorcio o de manutención por separación. Do college students have to file taxes Están separados por un decreto provisional (o sea, que no es final) de divorcio. Do college students have to file taxes Para propósitos de una declaración conjunta, a usted no se le considera divorciado. Do college students have to file taxes Matrimonio del mismo sexo. Do college students have to file taxes   Para propósitos tributarios federales, se consideran como casadas a las personas del mismo sexo que se casaron legalmente en un estado (o país extranjero) cuyas leyes autorizan el matrimonio entre dos personas del mismo sexo, aun si el estado en el que viven actualmente dichas personas no reconoce el matrimonio entre personas del mismo sexo. Do college students have to file taxes El término “cónyuge” incluye a un individuo que está casado con una persona de su mismo sexo si la pareja está legalmente casada conforme a la ley estatal (o extranjera). Do college students have to file taxes Sin embargo, las personas que están en una sociedad doméstica (“ domestic partnership ”), unión civil u otra relación semejante que no es considerada un matrimonio conforme a las leyes estatales (o extranjeras) no están consideradas como casadas para propósitos tributarios federales. Do college students have to file taxes Para más detalles, consulte la Publicación 501, en inglés. Do college students have to file taxes Cónyuge fallecido durante el año. Do college students have to file taxes   Si su cónyuge falleció durante el año, a usted se le considera casado todo el año para efectos del estado civil en la declaración. Do college students have to file taxes   Si no se ha vuelto a casar antes de terminar el año tributario, puede presentar una declaración conjunta en nombre suyo y de su cónyuge fallecido. Do college students have to file taxes También podría tener derecho, durante los 2 años siguientes, a los beneficios especiales que se explican más adelante en la sección titulada Viudo que Reúne los Requisitos con Hijo Dependiente . Do college students have to file taxes   Si se ha vuelto a casar antes de terminar el año tributario, puede presentar una declaración conjunta con su nuevo cónyuge. Do college students have to file taxes El estado civil para efectos de la declaración de su cónyuge fallecido será el de casado que presenta una declaración por separado para dicho año. Do college students have to file taxes Personas casadas que viven separadas. Do college students have to file taxes   Si usted vive separado de su cónyuge y satisface ciertos requisitos quizás pueda presentar la declaración como cabeza de familia aunque no esté divorciado o legalmente separado. Do college students have to file taxes Si reúne los requisitos para presentar la declaración como cabeza de familia en vez de casado que presenta la declaración por separado, la cantidad correspondiente a su deducción estándar será mayor. Do college students have to file taxes Además, el impuesto correspondiente podría ser menor y es posible que pueda reclamar el crédito por ingreso del trabajo. Do college students have to file taxes Vea más adelante Cabeza de Familia . Do college students have to file taxes Soltero Su estado civil para efectos de la declaración es soltero si se considera que no está casado y no reúne los requisitos para otro estado civil. Do college students have to file taxes Para determinar su estado civil vea el apartado anterior titulado Estado Civil . Do college students have to file taxes Viudo. Do college students have to file taxes   Podría declarar el estado civil de soltero si antes del 1 de enero del año 2013 enviudó y no se volvió a casar antes de finalizar el año 2013. Do college students have to file taxes No obstante, quizás pueda utilizar otro estado civil que le permita pagar menos impuestos. Do college students have to file taxes Vea Cabeza de Familia y Viudo que Reúne los Requisitos con Hijo Dependiente , más adelante, para determinar si reúne los requisitos. Do college students have to file taxes Cómo presentar la declaración. Do college students have to file taxes   Puede presentar el Formulario 1040. Do college students have to file taxes Si tiene ingresos sujetos a impuestos menores de $100,000, quizá podría presentar el Formulario 1040A. Do college students have to file taxes Además, si usted no tiene dependientes y tiene menos de 65 años de edad, no es ciego y cumple otros requisitos, puede presentar el Formulario 1040EZ. Do college students have to file taxes Si presenta el Formulario 1040A o el Formulario 1040, indique su estado civil de soltero marcando el recuadro de la línea 1. Do college students have to file taxes Utilice la columna de Soltero en la Tabla de Impuestos o la Sección A de la Hoja de Trabajo para el Cálculo del Impuesto, para calcular su impuesto. Do college students have to file taxes Casados que Presentan una Declaración Conjunta Puede elegir el estado civil de casado que presenta una declaración conjunta si se le considera casado y usted y su cónyuge deciden presentar una declaración conjunta. Do college students have to file taxes En dicha declaración, usted y su cónyuge incluyen la suma de sus ingresos y deducen la suma de sus gastos permisibles. Do college students have to file taxes Puede presentar una declaración conjunta aunque uno de ustedes no tuviera ingresos ni deducciones. Do college students have to file taxes Si usted y su cónyuge deciden presentar una declaración conjunta, es posible que sus impuestos sean menores que la suma de los impuestos de los otros estados civiles. Do college students have to file taxes Además, su deducción estándar (si no detallan sus deducciones) podría ser mayor y podrían reunir los requisitos para recibir beneficios tributarios no aplicables a otros estados civiles para efectos de la declaración. Do college students have to file taxes Si usted y su cónyuge tienen ingresos, quizás les convendría calcular el impuesto en una declaración conjunta y en declaraciones separadas (usando el estado civil de casado que presenta la declaración por separado). Do college students have to file taxes Pueden escoger el método que les permita pagar la menor cantidad de impuesto en total. Do college students have to file taxes Cómo presentar la declaración. Do college students have to file taxes   Si está casado y presenta la declaración conjunta, puede utilizar el Formulario 1040. Do college students have to file taxes Si usted y su cónyuge tienen ingresos sujetos a impuestos menores de $100,000, quizá podría presentar el Formulario 1040A. Do college students have to file taxes Además, si usted o su cónyuge no tienen dependientes, ambos tienen menos de 65 años de edad, no están ciegos y cumplen otros requisitos, pueden presentar el Formulario 1040EZ. Do college students have to file taxes Si presenta el Formulario 1040 o el Formulario 1040A, indique este estado civil marcando el recuadro de la línea 2. Do college students have to file taxes Para calcular sus impuestos, utilice la columna correspondiente a Casado que presenta una declaración conjunta, la cual aparece en la Tabla de Impuestos o la Sección B de la Hoja de Trabajo para el Cálculo del Impuesto. Do college students have to file taxes Cónyuge fallecido. Do college students have to file taxes   Si su cónyuge falleció durante el año, a usted se le considera casado todo el año y puede elegir el estado civil de casado que presenta una declaración conjunta. Do college students have to file taxes Vea la sección anterior titulada Cónyuge fallecido durante el año , bajo Estado Civil, para más información. Do college students have to file taxes   Si su cónyuge falleció en 2014 antes de presentar la declaración de 2013, para efectos de la declaración de 2013 puede elegir casado que presenta la declaración conjunta. Do college students have to file taxes Personas divorciadas. Do college students have to file taxes   Si para el último día del año usted está divorciado conforme a un decreto definitivo de divorcio, se le considerará no casado durante todo el año y no podrá utilizar la clasificación de casado que presenta declaración conjunta como estado civil para efectos de la declaración de impuestos. Do college students have to file taxes Presentación de una Declaración Conjunta Usted y su cónyuge tienen que incluir todos sus ingresos, exenciones y deducciones en la declaración conjunta. Do college students have to file taxes Período contable. Do college students have to file taxes   Usted y su cónyuge tienen que utilizar el mismo período contable, pero pueden usar diferentes métodos contables. Do college students have to file taxes Vea Períodos Contables y Métodos Contables , en el capítulo 1. Do college students have to file taxes Responsabilidad conjunta. Do college students have to file taxes   Usted y su cónyuge pueden ser responsables, individual y conjuntamente, del impuesto y todos los intereses o multas por pagar en su declaración conjunta. Do college students have to file taxes Esto significa que si un cónyuge no paga el impuesto adeudado, el otro puede ser responsable de pagarlo. Do college students have to file taxes O, si un cónyuge no informa el impuesto correcto, ambos cónyuges puede que sean responsables por todo impuesto adicional determinado por el IRS. Do college students have to file taxes Un cónyuge puede ser responsable de todo el impuesto adeudado, aunque dichos ingresos provengan del trabajo del otro cónyuge. Do college students have to file taxes   Puede que usted quiera presentar la declaración por separado si: usted cree que su cónyuge no está declarando todo el impuesto de él o ella, o usted no quiere ser responsable de todo el impuesto que su cónyuge adeude si a su cónyuge no se le retiene suficiente impuesto o no paga suficiente impuesto estimado. Do college students have to file taxes Contribuyente divorciado. Do college students have to file taxes   Usted podría ser individual y conjuntamente responsable de todo impuesto, además de todos los intereses y multas adeudados en una declaración conjunta presentada antes de su divorcio. Do college students have to file taxes Esta responsabilidad puede ser aplicable aun en el caso en que su decreto de divorcio establezca que su ex cónyuge es responsable de toda cantidad adeudada correspondiente a declaraciones de impuestos conjuntas presentadas anteriormente. Do college students have to file taxes Alivio tributario en el caso de obligación conjunta. Do college students have to file taxes   En algunos casos, en una declaración conjunta, uno de los cónyuges puede ser exonerado de la responsabilidad conjunta de pagar impuestos, intereses y multas por cantidades correspondientes al otro cónyuge que fuesen declaradas incorrectamente en una declaración conjunta. Do college students have to file taxes Usted puede solicitar el alivio de dicha obligación, por pequeña que sea la obligación. Do college students have to file taxes   Hay tres tipos de alivio tributario: Alivio de la responsabilidad tributaria del cónyuge inocente. Do college students have to file taxes Separación de la obligación (disponible solamente a las personas que presenten una declaración conjunta y que sean divorciadas, viudas, legalmente separadas o que no hayan vivido juntas durante los 12 meses inmediatamente anteriores a la fecha en que se presente esta solicitud de alivio). Do college students have to file taxes Alivio equitativo. Do college students have to file taxes    Tiene que presentar el Formulario 8857(SP), Solicitud para Alivio del Cónyuge Inocente, para solicitar cualquier alivio tributario de la responsabilidad conjunta. Do college students have to file taxes En la Publicación 971, Innocent Spouse Relief (Alivio del cónyuge inocente), en inglés, puede encontrar información detallada sobre este tema, así como sobre quién reúne los requisitos para recibir dicho alivio. Do college students have to file taxes Firma de la declaración conjunta. Do college students have to file taxes   Cada cónyuge está obligado, por lo general, a firmar la declaración. Do college students have to file taxes De lo contrario, no se considerará declaración conjunta. Do college students have to file taxes Si el cónyuge falleció antes de firmar la declaración. Do college students have to file taxes   Si su cónyuge falleció antes de firmar la declaración, el albacea o administrador tiene que firmar la declaración en nombre de dicho cónyuge. Do college students have to file taxes Si ni usted ni otra persona ha sido todavía nombrado albacea o administrador, puede firmar la declaración en nombre de su cónyuge y escribir “ Filing as surviving spouse ” (Declarar como cónyuge sobreviviente) en el espacio donde firma la declaración. Do college students have to file taxes Cónyuge ausente del hogar. Do college students have to file taxes   Si su cónyuge se encuentra ausente del hogar, usted debe preparar la declaración, firmarla y enviarla a su cónyuge para que la firme de manera que pueda presentarla a tiempo. Do college students have to file taxes Impedimento para firmar la declaración debido a enfermedad o lesión. Do college students have to file taxes   Si su cónyuge no puede firmar por razón de enfermedad o lesión y le pide a usted que firme por él o ella, puede firmar el nombre de su cónyuge en el espacio correspondiente en la declaración seguido por las palabras “ By (su nombre), Husband (esposo) o Wife (esposa)”. Do college students have to file taxes Asegúrese también de firmar en el espacio correspondiente a su firma. Do college students have to file taxes Incluya un escrito fechado y firmado por usted junto con su declaración de impuestos. Do college students have to file taxes Este escrito debe incluir el número del formulario que utiliza para presentar la declaración, el año tributario, la razón por la cual su cónyuge no puede firmar dicha declaración y debe especificar el consentimiento de su cónyuge para que firme por él o ella. Do college students have to file taxes Si firma como tutor de su cónyuge. Do college students have to file taxes   Si es tutor de su cónyuge, el cual se encuentra mentalmente incapacitado, usted puede firmar la declaración por esa persona como tutor. Do college students have to file taxes Cónyuge en zona de combate. Do college students have to file taxes   Puede firmar una declaración conjunta si su cónyuge no puede firmar la declaración porque está en una zona de combate (como el área del Golfo Pérsico, Serbia, Montenegro, Albania o Afganistán), aunque usted no tenga un poder legal u otro tipo de autorización escrita. Do college students have to file taxes Adjunte a su declaración de impuestos un escrito firmado explicando que su cónyuge está prestando servicios en una zona de combate. Do college students have to file taxes Para más información sobre los requisitos tributarios especiales para personas que estén prestando servicios en una zona de combate, o que hayan sido declaradas desaparecidas en una zona de combate, vea la Publicación 3, Armed Forces' Tax Guide (Guía de impuestos para las Fuerzas Armadas), en inglés. Do college students have to file taxes Otras razones por las cuales su cónyuge no puede firmar. Do college students have to file taxes    Si su cónyuge no puede firmar la declaración por cualquier otra razón, usted puede firmarla por él o ella únicamente si se le otorga un poder legal válido (un documento legal en el cual se le autoriza para actuar en nombre de su cónyuge). Do college students have to file taxes Adjunte el poder legal (o una copia de éste) a su declaración de impuestos. Do college students have to file taxes Para este propósito, puede utilizar el Formulario 2848(SP), Poder Legal y Declaración del Representante. Do college students have to file taxes Extranjero no residente o extranjero con doble estado de residencia. Do college students have to file taxes   Por lo general, un cónyuge no puede presentar una declaración conjunta si uno de los cónyuges es extranjero no residente en cualquier momento durante el año tributario. Do college students have to file taxes Sin embargo, si un cónyuge era extranjero no residente o extranjero con doble estado de residencia y estaba casado con un ciudadano o residente de los Estados Unidos al finalizar el año, ambos cónyuges pueden optar por presentar una declaración conjunta. Do college students have to file taxes Si deciden presentar dicha declaración, a ambos se les considerará residentes de los Estados Unidos durante todo el año tributario. Do college students have to file taxes Vea el capítulo 1 de la Publicación 519, en inglés. Do college students have to file taxes Casados que Presentan la Declaración por Separado Si está casado, usted y su cónyuge pueden optar por usar el estado civil de casados que presentan la declaración por separado. Do college students have to file taxes Pueden beneficiarse de este método si quieren responsabilizarse únicamente de su propio impuesto o si dicho impuesto resultara ser menor que el impuesto declarado en una declaración conjunta. Do college students have to file taxes Si usted y su cónyuge no están de acuerdo en presentar la declaración conjunta, tiene que presentar su declaración por separado a menos que reúna los requisitos para el estado civil de cabeza de familia que se explica más adelante. Do college students have to file taxes Puede elegir el estado civil de cabeza de familia si se le considera soltero porque vive separado de su cónyuge y reúne ciertos requisitos (explicados más adelante bajo Cabeza de Familia ). Do college students have to file taxes Esto es aplicable a usted aunque no esté divorciado o legalmente separado. Do college students have to file taxes Si reúne los requisitos para presentar la declaración como cabeza de familia en vez de casado que presenta la declaración por separado, es posible que pague menos impuestos, que pueda reclamar el crédito por ingreso del trabajo y otros créditos adicionales; además, su deducción estándar será mayor. Do college students have to file taxes El estado civil de cabeza de familia le permite escoger la deducción estándar aunque su cónyuge opte por detallar sus deducciones. Do college students have to file taxes Para información adicional, vea Cabeza de Familia , más adelante. Do college students have to file taxes Usted, por lo general, pagará una suma mayor de impuestos en declaraciones separadas de lo que pagarían en una declaración conjunta por las razones detalladas en la sección Reglas Especiales , que aparece más adelante. Do college students have to file taxes Sin embargo, a menos que usted y su cónyuge tengan que presentar declaraciones por separado, deben calcular sus impuestos de las dos maneras (en una declaración conjunta y en declaraciones separadas). Do college students have to file taxes De esta manera, pueden asegurarse de utilizar el método mediante el cual paguen la menor cantidad de impuestos entre los dos. Do college students have to file taxes Al calcular el monto combinado de los impuestos de ambos cónyuges, usted querrá tener en cuenta los impuestos estatales al igual que los impuestos federales. Do college students have to file taxes Cómo presentar la declaración. Do college students have to file taxes   Si presenta una declaración por separado, normalmente declara únicamente su propio ingreso, exenciones, créditos y deducciones. Do college students have to file taxes Puede declarar una exención por su cónyuge solamente si éste no recibe ingresos brutos, no presenta una declaración y no es dependiente de otro contribuyente. Do college students have to file taxes Puede presentar el Formulario 1040. Do college students have to file taxes Si tiene ingresos sujetos a impuestos menores de $100,000, quizá podría presentar el Formulario 1040A. Do college students have to file taxes Elija este estado civil marcando el recuadro de la línea 3 de cualquiera de estos formularios. Do college students have to file taxes Anote el nombre completo de su cónyuge y el número de Seguro Social (SSN, por sus siglas en inglés) o el número de identificación del contribuyente individual (ITIN, por sus siglas en inglés) de su cónyuge en los espacios provistos. Do college students have to file taxes Si su cónyuge no tiene y no se le requiere tener un SSN o un ITIN, anote “ NRA ” (extranjero no residente, por sus siglas en inglés) en el espacio provisto para el SSN de su cónyuge. Do college students have to file taxes Utilice la columna para Casado que presenta una declaración por separado en la Tabla de Impuestos o en la Sección C de la Hoja de Trabajo para el Cálculo del Impuesto para calcular su impuesto. Do college students have to file taxes Reglas Especiales Si opta por usar el estado civil de casado que presenta la declaración por separado, corresponden las siguientes reglas especiales. Do college students have to file taxes Debido a estas reglas especiales, por lo general usted pagará más impuestos en una declaración por separado de lo que pagaría si utilizara otro estado civil al cual tiene derecho. Do college students have to file taxes   Su tasa de impuestos generalmente es mayor que la de una declaración conjunta. Do college students have to file taxes La cantidad de la exención para calcular el impuesto mínimo alternativo es la mitad de la cantidad permitida en una declaración conjunta. Do college students have to file taxes No puede tomar el crédito por gastos de cuidado de hijos y dependientes en la mayoría de los casos y la cantidad que puede excluir del ingreso en un programa de ayuda del empleador para el cuidado de dependientes es un máximo de $2,500 (en vez de $5,000). Do college students have to file taxes Si está legalmente separado de su cónyuge, o viven separados, quizás pueda presentar la declaración por separado y todavía tomar el crédito. Do college students have to file taxes Para más información sobre estos gastos, el crédito y la exclusión, vea el capítulo 32. Do college students have to file taxes No puede tomar el crédito por ingreso del trabajo. Do college students have to file taxes No puede tomar la exclusión o crédito por gastos de adopción en la mayoría de los casos. Do college students have to file taxes No puede tomar los créditos tributarios por enseñanza superior (el crédito de oportunidad para los estadounidenses y el crédito vitalicio por aprendizaje), declarar la deducción por intereses sobre un préstamo de estudios o las deducciones por matrícula y cuotas escolares. Do college students have to file taxes No puede excluir ningún ingreso de intereses procedentes de un bono de ahorros de los Estados Unidos calificado que haya utilizado para gastos de enseñanza superior. Do college students have to file taxes Si vivió con su cónyuge en algún momento durante el año tributario: No puede reclamar el crédito para ancianos o para personas incapacitadas y Tendrá que incluir en sus ingresos un porcentaje más grande de los beneficios del Seguro Social o beneficios equivalentes de la jubilación ferroviaria que haya recibido (hasta el 85%). Do college students have to file taxes Los siguientes créditos y deducciones se reducen en el caso de niveles de ingreso que sean la mitad de lo que serían en una declaración conjunta: El crédito tributario por hijos, El crédito por aportaciones a cuentas de ahorros para la jubilación, La deducción por exenciones personales y Las deducciones detalladas. Do college students have to file taxes Su deducción por pérdida de capital se limita a $1,500 (en vez de $3,000 en una declaración conjunta). Do college students have to file taxes Si su cónyuge detalla sus deducciones, usted no puede reclamar la deducción estándar. Do college students have to file taxes Si usted puede reclamar la deducción estándar, la cantidad básica de su deducción estándar es la mitad de la cantidad permitida en una declaración conjunta. Do college students have to file taxes Límites del ingreso bruto ajustado. Do college students have to file taxes   Si su ingreso bruto ajustado (AGI, por sus siglas en inglés) en una declaración separada es menor de lo que hubiera podido ser en una declaración conjunta, usted podría deducir una cantidad mayor para ciertas deducciones limitadas por el ingreso bruto ajustado, tales como gastos médicos. Do college students have to file taxes Arreglos de ahorros para la jubilación. Do college students have to file taxes   Es posible que no pueda deducir la totalidad o parte de sus aportaciones a un arreglo de ahorros tradicional para la jubilación (IRA, por sus siglas en inglés) si usted o su cónyuge estuvo cubierto por un plan de jubilación de su trabajo durante el año. Do college students have to file taxes Su deducción se reduce o se elimina si sus ingresos sobrepasan cierta cantidad. Do college students have to file taxes Esta cantidad es mucho menor para personas casadas que presentan la declaración por separado y que vivieron juntas en algún momento del año. Do college students have to file taxes Para más información, vea ¿Cuánto se Puede Deducir? , en el capítulo 17. Do college students have to file taxes Pérdidas de actividades de alquiler. Do college students have to file taxes   Si participó activamente en una actividad pasiva de alquiler de bienes raíces que haya generado una pérdida, normalmente puede deducir la pérdida de su ingreso no pasivo, hasta $25,000. Do college students have to file taxes Esto se denomina “descuento especial”. Do college students have to file taxes Sin embargo, las personas casadas que presentan declaraciones por separado que vivieron juntas en algún momento del año no pueden reclamar este descuento especial. Do college students have to file taxes Las personas casadas que presentan declaraciones por separado que vivieron separadas en todo momento durante el año pueden obtener cada una por separado un descuento máximo especial de $12,500 por pérdidas de actividades pasivas de bienes raíces. Do college students have to file taxes Vea Límites sobre las Pérdidas de Alquiler , en el capítulo 9. Do college students have to file taxes Estados donde rige la ley de los bienes gananciales. Do college students have to file taxes   Si vive en Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington o Wisconsin y presenta una declaración por separado, es posible que sus ingresos se consideren ingresos por separado o ingresos como bienes gananciales para efectos del impuesto sobre el ingreso. Do college students have to file taxes Vea la Publicación 555, en inglés. Do college students have to file taxes Declaración Conjunta Después de Presentar Declaraciones por Separado Puede cambiar su estado civil para efectos de la declaración después de presentar una declaración por separado a una declaración conjunta presentando una declaración enmendada, utilizando el Formulario 1040X. Do college students have to file taxes Por lo general, puede cambiar a una declaración conjunta en cualquier momento dentro de un plazo de 3 años a partir de la fecha límite para presentar la declaración o declaraciones separadas. Do college students have to file taxes Este plazo no incluye prórroga alguna. Do college students have to file taxes Una declaración separada incluye una declaración que usted o su cónyuge haya presentado con uno de los tres estados civiles siguientes: casado que presenta la declaración por separado, soltero o cabeza de familia. Do college students have to file taxes Declaración por Separado Después de Presentar una Declaración Conjunta Una vez que hayan presentado una declaración conjunta, no podrán optar por presentar declaraciones por separado para ese año después de la fecha límite para presentar dicha declaración conjunta. Do college students have to file taxes Excepción. Do college students have to file taxes   El representante personal de un fallecido puede cambiar la opción del cónyuge sobreviviente de presentar una declaración conjunta, presentando en su lugar una declaración por separado en nombre del fallecido. Do college students have to file taxes El representante personal tiene hasta 1 año a partir de la fecha de vencimiento del plazo de entrega de la declaración (incluidas prórrogas) para hacer el cambio. Do college students have to file taxes Vea la Publicación 559, Survivors, Executors, and Administrators (Sobrevivientes, albaceas y administradores), en inglés, para más información sobre la presentación de la declaración final para un fallecido. Do college students have to file taxes Cabeza de Familia Puede presentar la declaración como cabeza de familia si cumple todos los requisitos siguientes: No está casado o “se le consideraba no casado” en el último día del año. Do college students have to file taxes Vea Estado Civil , anteriormente y Personas Consideradas no Casadas , más adelante. Do college students have to file taxes Pagó más de la mitad del costo de mantener una vivienda durante el año. Do college students have to file taxes Una persona calificada vivió con usted en la vivienda durante más de la mitad del año (excepto por ausencias temporales, como para cursar estudios). Do college students have to file taxes Sin embargo, si la “persona calificada” es su padre o madre dependiente, él o ella no tiene que vivir con usted. Do college students have to file taxes Vea Regla especial para los padres , más adelante, en la sección titulada Persona Calificada. Do college students have to file taxes Si reúne los requisitos para presentar la declaración como cabeza de familia, su tasa de impuesto será, por lo general, menor que las tasas para solteros o casados que presentan declaraciones por separado. Do college students have to file taxes Usted recibirá, además, una deducción estándar mayor de la que recibiría si se basara en el estado civil de soltero o de casado que presenta una declaración por separado. Do college students have to file taxes Hijos secuestrados. Do college students have to file taxes   Usted podría reunir los requisitos para presentar la declaración como cabeza de familia, aun cuando su hijo haya sido secuestrado. Do college students have to file taxes Para más información, vea la Publicación 501, en inglés. Do college students have to file taxes Cómo presentar la declaración. Do college students have to file taxes   Si presenta la declaración como cabeza de familia, puede utilizar el Formulario 1040. Do college students have to file taxes Si tiene ingresos sujetos a impuestos menores de $100,000, quizá podría presentar el Formulario 1040A. Do college students have to file taxes Indique su estado civil para efectos de la declaración marcando el recuadro de la línea 4 en cualquiera de estos formularios. Do college students have to file taxes Utilice la columna Cabeza de familia en la Tabla de Impuestos o la Sección D de la Hoja de Trabajo para el Cálculo del Impuesto, para calcular su impuesto. Do college students have to file taxes Personas Consideradas no Casadas Para tener derecho al estado civil de cabeza de familia, tiene que ser no casado o considerado no casado el último día del año. Do college students have to file taxes Se le considera no casado el último día del año tributario si reúne todos los requisitos siguientes: Presenta una declaración separada, definida anteriormente en la sección titulada Declaración Conjunta Después de Presentar Declaraciones por Separado . Do college students have to file taxes Pagó más de la mitad de los costos de mantenimiento de su vivienda durante el año tributario. Do college students have to file taxes Su cónyuge no vivió con usted en la vivienda durante los últimos 6 meses del año tributario. Do college students have to file taxes Se considera que su cónyuge ha vivido en la vivienda aun si él o ella se ausenta temporalmente debido a circunstancias especiales. Do college students have to file taxes Vea más adelante Ausencias temporales , bajo Persona Calificada. Do college students have to file taxes Su vivienda fue la residencia principal de su hijo, hijastro o hijo de crianza durante más de la mitad del año. Do college students have to file taxes (Vea Vivienda de una persona calificada , bajo Persona Calificada, más adelante, para los requisitos aplicables al nacimiento, fallecimiento o ausencia temporal de un hijo durante el año). Do college students have to file taxes Tiene que tener derecho a reclamar una exención por el hijo. Do college students have to file taxes No obstante, usted cumple este requisito si no puede reclamar una exención por su hijo solamente porque el padre que no tiene la custodia puede declararlo basándose en los requisitos que se describen en Hijos de padres divorciados o separados (o padres que no viven juntos) bajo Hijo Calificado en el capítulo 3 o en Requisito de Manutención para Hijos de Padres Divorciados o Separados (o padres que no viven juntos) bajo Pariente Calificado en el capítulo 3. Do college students have to file taxes Los requisitos generales para reclamar la exención por un dependiente se explican en el capítulo 3 bajo Exenciones por Dependientes . Do college students have to file taxes Si se le considera casado por parte del año y vivió en un estado donde rige la ley de los bienes gananciales (indicado anteriormente bajo la sección titulada Casados que Presentan la Declaración por Separado), es posible que correspondan requisitos especiales para determinar su ingreso y sus gastos. Do college students have to file taxes Vea la Publicación 555, en inglés, para más información. Do college students have to file taxes Hoja de Trabajo 2-1. Do college students have to file taxes Costo de Mantenimiento de la Vivienda   Cantidad que Usted Pagó Costo Total Impuestos sobre la propiedad $ $ Gastos por intereses hipotecarios     Alquiler     Gastos de servicios públicos     Mantenimiento y reparaciones     Seguro de la propiedad     Alimentos consumidos  en la vivienda     Otros gastos del hogar     Totales $ $ Menos la cantidad total que usted pagó   () Cantidad que otras personas pagaron   $ Si el total de lo que usted pagó es más de lo que otros pagaron, usted reúne el requisito de pagar más de la mitad del mantenimiento de la vivienda. Do college students have to file taxes Cónyuge extranjero no residente. Do college students have to file taxes   Se le considera no casado para propósitos del estado civil de cabeza de familia si su cónyuge fue extranjero no residente en alguna parte del año y usted no opta por incluir a su cónyuge no residente en la declaración como extranjero residente. Do college students have to file taxes No obstante, su cónyuge no es una persona calificada para fines del estado civil de cabeza de familia. Do college students have to file taxes Usted tiene que tener otra persona calificada y reunir los demás requisitos necesarios para poder presentar la declaración como cabeza de familia. Do college students have to file taxes Elección de incluir al cónyuge en la declaración como residente. Do college students have to file taxes   Se le considera casado si ha optado por incluir a su cónyuge en la declaración como extranjero residente. Do college students have to file taxes Vea la Publicación 519, U. Do college students have to file taxes S. Do college students have to file taxes Tax Guide for Aliens (Guía sobre los impuestos estadounidenses para extranjeros), en inglés. Do college students have to file taxes Personas que Mantienen una Vivienda Para tener derecho al estado civil de cabeza de familia para la declaración, tiene que pagar más de la mitad de los gastos de mantener la vivienda durante el año. Do college students have to file taxes Para determinar si usted pagó más de la mitad del costo de mantener una vivienda, puede usar la Hoja de Trabajo 2-1, anteriormente. Do college students have to file taxes Costos que se incluyen. Do college students have to file taxes   Incluya en los costos de mantenimiento de la vivienda, gastos como alquiler, intereses hipotecarios, impuestos sobre bienes raíces, seguro de la vivienda, reparaciones, servicios públicos y alimentos consumidos en la vivienda. Do college students have to file taxes   Si usó pagos recibidos bajo el programa Temporary Assistance for Needy Families (Asistencia Temporal para Familias Necesitadas (TANF, por sus siglas en inglés)) u otros programas de asistencia pública para pagar parte del costo de mantener su vivienda, no los puede incluir como dinero pagado. Do college students have to file taxes No obstante, debe incluirlos en la totalidad del costo de mantener su vivienda para calcular si pagó más de la mitad del costo. Do college students have to file taxes Costos que no se incluyen. Do college students have to file taxes   No incluya los costos de ropa, educación, tratamiento médico, vacaciones, seguro de vida o transporte. Do college students have to file taxes Tampoco incluya el valor del alquiler de una vivienda de la cual usted es dueño ni el valor de los servicios prestados por usted o por un miembro de su hogar. Do college students have to file taxes Persona Calificada Vea la Tabla 2-1 más adelante, para determinar quién es una persona calificada. Do college students have to file taxes Toda persona no descrita en la Tabla 2-1 no es una persona calificada. Do college students have to file taxes Ejemplo 1: hijo. Do college students have to file taxes Su hijo, no casado, vivió con usted durante todo el año y tenía 18 años de edad al final del año. Do college students have to file taxes Él no aportó más de la mitad de su propia manutención, ni cumple los requisitos para ser hijo calificado de otro contribuyente. Do college students have to file taxes Por lo tanto, es el hijo calificado de usted (vea Hijo Calificado en el capítulo 3), ya que es soltero, es una persona calificada en la que usted puede basarse para presentar la declaración de impuestos como cabeza de familia. Do college students have to file taxes Ejemplo 2: hijo no considerado persona calificada. Do college students have to file taxes Los datos son iguales a los del Ejemplo 1, excepto que su hijo tenía 25 años de edad al finalizar el año y su ingreso bruto fue $5,000. Do college students have to file taxes Debido a que su hijo no satisface el Requisito de Edad (explicado en el capítulo 3 bajo Hijo Calificado), su hijo no es considerado hijo calificado. Do college students have to file taxes Debido a que él no satisface el Requisito del Ingreso Bruto (explicado bajo Pariente Calificado en el capítulo 3), él no es el pariente calificado de usted. Do college students have to file taxes Por lo tanto, él no es una persona calificada en la que usted pueda basarse para presentar la declaración de impuestos como cabeza de familia. Do college students have to file taxes Ejemplo 3: novia. Do college students have to file taxes Su novia vivió con usted durante todo el año. Do college students have to file taxes Aunque ella podría ser el pariente calificado de usted si reúne el requisito del ingreso bruto y el requisito de manutención (explicados en el capítulo 3), ella no es una persona calificada en la que usted pueda basarse para presentar la declaración de impuestos como cabeza de familia debido a que ella no está emparentada con usted en una de las maneras mencionadas bajo Parientes que no tienen que vivir con usted , en el capítulo 3. Do college students have to file taxes Vea la Tabla 2-1 . Do college students have to file taxes Ejemplo 4: el hijo de su novia. Do college students have to file taxes Los datos son iguales a los del Ejemplo 3 , excepto que el hijo de su novia, el cual tiene 10 años de edad, también vivió con usted durante todo el año. Do college students have to file taxes No es el hijo calificado de usted y, ya que es el hijo calificado de su novia, tampoco es el pariente calificado de usted (vea el Requisito de no ser Hijo Calificado en el capítulo 3). Do college students have to file taxes Por lo tanto, no es una persona calificada en la que usted pueda basarse para presentar la declaración de impuestos como cabeza de familia. Do college students have to file taxes Vivienda de una persona calificada. Do college students have to file taxes   Por lo general, la persona calificada tiene que vivir con usted durante más de la mitad del año. Do college students have to file taxes Regla especial para los padres. Do college students have to file taxes   Si la persona calificada es su padre o su madre, podría tener derecho al estado civil de cabeza de familia al presentar la declaración, aunque su padre o su madre no viva con usted. Do college students have to file taxes Sin embargo, tiene que poder reclamar una exención por su padre o su madre. Do college students have to file taxes También tiene que pagar más de la mitad de los gastos de mantener una vivienda que fue la vivienda principal de su madre o su padre durante todo el año. Do college students have to file taxes   Usted mantiene la vivienda principal para su padre o su madre si paga más de la mitad de los gastos de mantenimiento de su padre o su madre en un asilo o residencia para ancianos. Do college students have to file taxes Fallecimiento o nacimiento. Do college students have to file taxes   Es posible que pueda presentar la declaración como cabeza de familia aun cuando la persona que le da derecho a este estado civil nazca o muera durante el año. Do college students have to file taxes Si esa persona es su hijo calificado, el hijo tiene que haber vivido con usted por más de la mitad de la parte del año en que él o ella estaba vivo. Do college students have to file taxes Si la persona es cualquier otra persona que no sea su hijo calificado, consulte la Publicación 501. Do college students have to file taxes Ausencias temporales. Do college students have to file taxes   Se considera que usted y la persona calificada residen en la misma vivienda aun en el caso de una ausencia temporal suya, de la otra persona o de ambas, debido a circunstancias especiales, como enfermedad, educación, negocios, vacaciones o servicio militar. Do college students have to file taxes Tiene que ser razonable suponer que la persona ausente volverá a la vivienda después de la ausencia temporal. Do college students have to file taxes Usted tiene que continuar manteniendo la vivienda durante la ausencia. Do college students have to file taxes Viudo que Reúne los Requisitos con Hijo Dependiente Si su cónyuge falleció en el año 2013, usted puede utilizar el estado civil de casado que presenta una declaración conjunta para el año 2013 si satisface los demás requisitos para utilizar dicho estado civil para efectos de la declaración. Do college students have to file taxes El año de fallecimiento es el último año para el cual puede presentar una declaración conjunta con su cónyuge fallecido. Do college students have to file taxes Vea la sección anterior, Casados que Presentan una Declaración Conjunta . Do college students have to file taxes Es posible que pueda presentar su declaración utilizando el estado civil de viudo que reúne los requisitos con hijo dependiente durante los 2 años siguientes al año del fallecimiento de su cónyuge. Do college students have to file taxes Por ejemplo, si su cónyuge falleció en el año 2012 y usted no se ha vuelto a casar, quizás pueda utilizar este estado civil para efectos de la declaración para los años 2013 y 2014. Do college students have to file taxes Este estado civil le da el derecho de usar las tasas impositivas para la declaración conjunta y la deducción estándar máxima (si no detalla las deducciones). Do college students have to file taxes Sin embargo, dicho estado civil no le da el derecho de presentar una declaración conjunta. Do college students have to file taxes Cómo presentar la declaración. Do college students have to file taxes   Si usted presenta la declaración como viudo que reúne los requisitos con hijo dependiente, puede usar el Formulario 1040. Do college students have to file taxes Además, si tiene ingresos sujetos a impuestos menores de $100,000 y cumple con ciertas condiciones, quizá podría presentar el Formulario 1040A. Do college students have to file taxes Marque el recuadro en la línea 5 de cualquiera de los dos formularios. Do college students have to file taxes Para calcular su impuesto, utilice la columna correspondiente a Casado que presenta una declaración conjunta, la cual aparece en la Tabla de Impuestos o la Sección B de la Hoja de Trabajo para el Cálculo del Impuesto. Do college students have to file taxes Tabla 2-1. Do college students have to file taxes ¿Quién le Da Derecho a Presentar la Declaración como Cabeza de Familia?1 Precaución: En este capítulo encontrará los demás requisitos que tiene que reunir para reclamar el estado civil de cabeza de familia para efectos de la declaración. Do college students have to file taxes SI la persona es su . Do college students have to file taxes . Do college students have to file taxes . Do college students have to file taxes   Y . Do college students have to file taxes . Do college students have to file taxes . Do college students have to file taxes   ENTONCES esa persona . Do college students have to file taxes . Do college students have to file taxes . Do college students have to file taxes hijo calificado (como un hijo, hija o nieto que vivió con usted durante más de la mitad del año y reúne ciertos otros requisitos)2   él o ella es soltero   es una persona calificada, independientemente de si usted puede o no reclamar una exención por dicha persona. Do college students have to file taxes   él o ella está casado y usted puede reclamar una exención por él o ella   es una persona calificada. Do college students have to file taxes   él o ella está casado y usted no puede reclamar una exención por él o ella   no es una persona calificada. Do college students have to file taxes 3 pariente calificado4 que sea su padre o madre   usted puede reclamar una exención por él o ella5   es una persona calificada. Do college students have to file taxes 6   usted no puede reclamar una exención por él o ella   no es una persona calificada. Do college students have to file taxes pariente calificado4 que no sea su padre o madre (como un abuelo, hermano o hermana que reúne ciertos requisitos)   él o ella vivió con usted durante más de la mitad del año y él o ella es uno de los parientes mencionados en Parientes que no tienen que vivir con usted en el capítulo 3 y usted puede reclamar una exención por él o ella5   es una persona calificada. Do college students have to file taxes   él o ella no vivió con usted durante más de la mitad del año   no es una persona calificada. Do college students have to file taxes   él o ella no es uno de los parientes mencionados en Parientes que no tienen que vivir con usted en el capítulo 3 y es su pariente calificado sólo por vivir con usted todo el año como miembro de su unidad familiar   no es una persona calificada. Do college students have to file taxes   usted no puede reclamar una exención por él o ella   no es una persona calificada. Do college students have to file taxes 1Una persona no puede darle a más de un contribuyente el derecho de usar el estado civil de cabeza de familia para la declaración en el año. Do college students have to file taxes 2El término hijo calificado se define en el capítulo 3. Do college students have to file taxes Nota: Si usted es padre o madre sin custodia, el término “hijo calificado” para el estado civil de cabeza de familia no incluye a un hijo que sea su hijo calificado para propósitos de una exención tributaria debido solamente a las reglas descritas bajo Hijos de padres divorciados o separados (o padres que no viven juntos) bajo Hijo Calificado en el capítulo 3. Do college students have to file taxes Si usted es el padre o la madre que tiene custodia y le corresponden estas reglas, el hijo generalmente es su hijo calificado para el estado civil de cabeza de familia aunque el hijo no sea un hijo calificado por el cual usted pueda reclamar una exención. Do college students have to file taxes 3Esta persona es una persona calificada si la única razón por la cual usted no puede tener derecho a la exención es que usted puede ser reclamado como dependiente en la declaración de otra persona. Do college students have to file taxes 4El término “ pariente calificado ” se define en el capítulo 3. Do college students have to file taxes 5Si usted puede reclamar una exención por una persona sólo porque existe un acuerdo de manutención múltiple, dicha persona no es una persona calificada. Do college students have to file taxes Vea la sección titulada Acuerdo de Manutención Múltiple , en el capítulo 3. Do college students have to file taxes 6Vea Regla especial para los padres . Do college students have to file taxes   Requisitos. Do college students have to file taxes   Tiene derecho a presentar la declaración del año 2013 como viudo que reúne los requisitos con hijo dependiente si cumple todas las condiciones siguientes: Tenía derecho a presentar una declaración conjunta con su cónyuge para el año en que éste falleció. Do college students have to file taxes No importa si usted de hecho llegó a presentar una declaración conjunta. Do college students have to file taxes Su cónyuge falleció en el año 2011 o en el año 2012 y usted no se volvió a casar antes de terminar el año 2013. Do college students have to file taxes Tiene un hijo o hijastro por el cual usted puede reclamar una exención. Do college students have to file taxes Esto no incluye a un hijo de crianza. Do college students have to file taxes Este hijo vivió en su vivienda durante todo el año, a excepción de ausencias temporales. Do college students have to file taxes Vea Ausencias temporales , anteriormente, bajo Cabeza de Familia. Do college students have to file taxes También hay excepciones, las cuales se describen más adelante, que corresponden a un hijo que nació o falleció durante el año y a un hijo secuestrado. Do college students have to file taxes Pagó más de la mitad del costo de mantener una vivienda durante el año. Do college students have to file taxes Vea Personas que Mantienen una Vivienda , anteriormente, bajo Cabeza de Familia. Do college students have to file taxes Ejemplo. Do college students have to file taxes La esposa de Juan falleció en el año 2011. Do college students have to file taxes Él no se ha vuelto a casar. Do college students have to file taxes Durante los años 2012 y 2013, continuó manteniendo una vivienda para él y su hijo (que vive con él y por el cual puede reclamar una exención). Do college students have to file taxes En el año 2011, tenía derecho a presentar una declaración conjunta para él y su esposa fallecida. Do college students have to file taxes En los años tributarios 2012 y 2013 tiene derecho a presentar una declaración como viudo que reúne los requisitos con hijo dependiente. Do college students have to file taxes Después de 2013, puede presentar la declaración usando el estado civil de cabeza de familia si reúne los requisitos para dicho estado civil. Do college students have to file taxes Fallecimiento o nacimiento. Do college students have to file taxes    Puede satisfacer las condiciones para presentar una declaración como viudo que reúne los requisitos con hijo dependiente si el hijo que le da derecho a este estado civil nace o fallece durante el año. Do college students have to file taxes Tiene que haber provisto más de la mitad del costo de mantener una vivienda que fuera la residencia principal del hijo durante toda la parte del año durante el cual el hijo estuvo vivo. Do college students have to file taxes Hijos secuestrados. Do college students have to file taxes   Aunque su hijo haya sido secuestrado, dicho hijo podría darle derecho al estado civil de viudo calificado con hijo dependiente que reúne los requisitos. Do college students have to file taxes Para más información, vea la Publicación 501, en inglés. Do college students have to file taxes Como se menciona anteriormente, este estado civil se puede utilizar solamente durante los 2 años siguientes al año del fallecimiento de su cónyuge. Do college students have to file taxes Prev  Up  Next   Home   More Online Publications
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Do college students have to file taxes Internal Revenue Bulletin:  2009-36  September 8, 2009  Rev. Do college students have to file taxes Proc. Do college students have to file taxes 2009-37 Table of Contents SECTION 1. Do college students have to file taxes PURPOSE SECTION 2. Do college students have to file taxes BACKGROUND SECTION 3. Do college students have to file taxes SCOPE SECTION 4. Do college students have to file taxes ELECTION PROCEDURES SECTION 5. Do college students have to file taxes REQUIRED INFORMATION STATEMENT SECTION 6. Do college students have to file taxes EFFECTIVE DATE SECTION 7. Do college students have to file taxes TRANSITION RULE SECTION 8. Do college students have to file taxes PAPERWORK REDUCTION ACT DRAFTING INFORMATION SECTION 1. Do college students have to file taxes PURPOSE . Do college students have to file taxes 01 This revenue procedure provides the exclusive procedures for taxpayers to make an election to defer recognizing discharge of indebtedness income (“COD income”) under § 108(i) of the Internal Revenue Code. Do college students have to file taxes . Do college students have to file taxes 02 This revenue procedure also requires taxpayers making the § 108(i) election to provide additional information on returns beginning with the taxable year following the taxable year for which the taxpayer makes the election. Do college students have to file taxes This revenue procedure describes the time and manner of providing this additional information. Do college students have to file taxes . Do college students have to file taxes 03 The Internal Revenue Service and Treasury Department intend to issue additional guidance under § 108(i) that may include regulations addressing matters in this revenue procedure. Do college students have to file taxes Taxpayers should be aware that these regulations may be retroactive. Do college students have to file taxes See § 7805(b)(2). Do college students have to file taxes This revenue procedure may be modified to provide procedures consistent with additional guidance. Do college students have to file taxes SECTION 2. Do college students have to file taxes BACKGROUND . Do college students have to file taxes 01 Section 108(i), Generally. Do college students have to file taxes Section 108(i) was added to the Code by § 1231 of the American Recovery and Reinvestment Tax Act of 2009, Pub. Do college students have to file taxes L. Do college students have to file taxes No. Do college students have to file taxes 111-5, 123 Stat. Do college students have to file taxes 338. Do college students have to file taxes In general, § 108(i) provides that, at the election of a taxpayer, COD income realized in connection with a reacquisition after December 31, 2008, and before January 1, 2011, of an applicable debt instrument is includible in gross income ratably over a 5-taxable-year inclusion period, beginning with the taxpayer’s fourth or fifth taxable year following the taxable year of the reacquisition. Do college students have to file taxes Generally, if a taxpayer makes a § 108(i) election and reacquires (or is treated as reacquiring) the applicable debt instrument generating the COD income for a new debt instrument with original issue discount (“OID”), then interest deductions for this OID also are deferred, as provided in § 108(i)(2). Do college students have to file taxes The OID deferral rule, however, does not apply if the amount of OID is less than a de minimis amount, as determined under § 1273(a)(3) and § 1. Do college students have to file taxes 1273-1(d) of the Income Tax Regulations. Do college students have to file taxes The OID deferral rule in § 108(i)(2) applies at the entity level for a pass-through entity. Do college students have to file taxes For example, a partnership (and therefore its partners) may not deduct currently the OID described in § 108(i)(2)(A)(i). Do college students have to file taxes A taxpayer must take into account any item of income or deduction deferred under § 108(i), and not previously taken into account, in the taxable year in which certain events occur (such as the liquidation of the taxpayer and upon other events specified in administrative guidance). Do college students have to file taxes See § 108(i)(5)(D). Do college students have to file taxes The rule regarding acceleration of deferred COD income and OID deductions also applies in the case of certain dispositions by persons holding ownership interests in pass-through entities. Do college students have to file taxes Section 108(i)(5)(D)(ii). Do college students have to file taxes For purposes of § 108(i), regulated investment companies (as defined in § 851(a)) and real estate investment trusts (as defined in § 856(a)) are not pass-through entities. Do college students have to file taxes . Do college students have to file taxes 02 Applicable Debt Instrument. Do college students have to file taxes Section 108(i)(3)(A) defines the term “applicable debt instrument” to mean any debt instrument issued by a C corporation or by any other person in connection with the conduct of a trade or business by that person. Do college students have to file taxes The term “debt instrument” means any bond, debenture, note, certificate, or any other instrument or contractual arrangement constituting indebtedness within the meaning of § 1275(a)(1). Do college students have to file taxes Section 108(i)(3)(B). Do college students have to file taxes For purposes of § 108(i), in the case of an intercompany obligation (as defined in § 1. Do college students have to file taxes 1502-13(g)(2)(ii)), an applicable debt instrument includes only an instrument for which COD income is realized upon the instrument’s deemed satisfaction under § 1. Do college students have to file taxes 1502-13(g)(5). Do college students have to file taxes . Do college students have to file taxes 03 Reacquisition. Do college students have to file taxes Section 108(i)(4)(A) defines the term “reacquisition” to mean, with respect to any applicable debt instrument, any acquisition of the debt instrument by the debtor that issued (or is otherwise the obligor under) the debt instrument, or a person related to the debtor under § 108(e)(4). Do college students have to file taxes The term “acquisition” includes an acquisition of the debt instrument for cash or other property, the exchange of the debt instrument for another debt instrument (including an exchange resulting from a modification of the debt instrument), the exchange of the debt instrument for corporate stock or a partnership interest, the contribution of the debt instrument to capital, and the complete forgiveness of the indebtedness by the holder of the debt instrument. Do college students have to file taxes See § 108(i)(4)(B). Do college students have to file taxes The term “acquisition” also includes an indirect acquisition within the meaning of § 1. Do college students have to file taxes 108-2(c) if a direct acquisition of the debt instrument would qualify for an election under § 108(i). Do college students have to file taxes For example, if a corporation acquires debt of a partnership that the partnership issued in connection with its trade or business, and the partnership and corporation become related within six months of the corporation’s acquisition of the debt, the indirect acquisition is an acquisition for which an election under § 108(i) may be made. Do college students have to file taxes . Do college students have to file taxes 04 General Requirements for the Section 108(i) Election. Do college students have to file taxes Section 108(i)(5)(B) provides, in general, that a taxpayer makes the § 108(i) election by including a statement that clearly identifies the applicable debt instrument with the return of tax imposed for the taxable year in which the reacquisition of the instrument occurs. Do college students have to file taxes (For purposes of this revenue procedure, a return of tax or income tax return includes an information return, and a taxpayer includes a person that files an information return. Do college students have to file taxes ) The statement must include the amount of income to which § 108(i)(1) applies and other information the Service may prescribe. Do college students have to file taxes Once made, a § 108(i) election is irrevocable and, except as provided in section 7 of this revenue procedure, may not be modified. Do college students have to file taxes . Do college students have to file taxes 05 Section 108(i) Elections Made by Pass-through Entities. Do college students have to file taxes In the case of COD income realized by a pass-through entity from the reacquisition of an applicable debt instrument, the pass-through entity makes the § 108(i) election. Do college students have to file taxes Section 108(i)(5)(B)(iii). Do college students have to file taxes . Do college students have to file taxes 06 Additional Information on Subsequent Years’ Returns. Do college students have to file taxes Section 108(i)(7) authorizes the Service to issue guidance necessary or appropriate for applying § 108(i), including requiring reporting the election and other information on returns of tax for subsequent taxable years. Do college students have to file taxes . Do college students have to file taxes 07 Exclusivity. Do college students have to file taxes Section 108(i)(5)(C) provides that if a taxpayer elects to apply § 108(i) to an applicable debt instrument, § 108(a)(1)(A), (B), (C), and (D) do not apply to COD income deferred under § 108(i). Do college students have to file taxes . Do college students have to file taxes 08 Allocation of Deferred COD Income on Partnership Indebtedness. Do college students have to file taxes Section 4. Do college students have to file taxes 04(3) of this revenue procedure describes how a partnership may elect under § 108(i) to defer a portion of the COD income realized from the reacquisition of an applicable debt instrument. Do college students have to file taxes If a partnership elects to defer all or any portion of COD income realized from the reacquisition of an applicable debt instrument, all of the COD income with respect to that debt instrument, without regard to § 108(i), is allocated to the partners in the partnership immediately before the reacquisition in the manner in which the income would be included in the distributive shares of these partners under § 704 and the regulations thereunder, including § 1. Do college students have to file taxes 704-1(b)(2)(iii). Do college students have to file taxes Each partner’s share of this COD income is the partner’s COD income amount (“COD income amount”). Do college students have to file taxes The partner’s COD income amount that is deferred under § 108(i) is the partner’s deferred amount (“deferred amount”). Do college students have to file taxes The partner’s COD income amount that is not deferred and is included in the partner’s distributive share of partnership income for the taxable year of the partnership in which the reacquisition occurs is the partner’s included amount (“included amount”). Do college students have to file taxes . Do college students have to file taxes 09 Partner’s Deferred § 752 Amount. Do college students have to file taxes A decrease in a partner’s share of a partnership liability resulting from the reacquisition of an applicable debt instrument that is not treated as a current distribution of money to the partner under § 752 by reason of § 108(i)(6) is the partner’s deferred § 752 amount (“deferred § 752 amount”). Do college students have to file taxes A partner’s deferred § 752 amount may not exceed the lesser of (i) the partner’s deferred amount or (ii) gain that the partner would recognize in the year of reacquisition under § 731 as a result of the reacquisition absent § 108(i)(6). Do college students have to file taxes To determine the amount of gain the partner would recognize under clause (ii) of the preceding sentence, the amount of any deemed distribution of money under § 752(b) resulting from the decrease in the partner’s share of a reacquired applicable debt instrument that is treated as an advance or draw of money under § 1. Do college students have to file taxes 731-1(a)(1)(ii) is determined as if no COD income resulting from the reacquisition of the applicable debt instrument is deferred under § 108(i). Do college students have to file taxes See Rev. Do college students have to file taxes Rul. Do college students have to file taxes 92-97, 1992-2 C. Do college students have to file taxes B. Do college students have to file taxes 124, and Rev. Do college students have to file taxes Rul. Do college students have to file taxes 94-4, 1994-1 C. Do college students have to file taxes B. Do college students have to file taxes 195. Do college students have to file taxes A partner’s deferred § 752 amount is treated as a distribution of money to the partner under § 752 at the same time, and to the extent remaining in the same amount, as the partner recognizes the COD income deferred under § 108(i). Do college students have to file taxes . Do college students have to file taxes 10 Allocation of Deferred COD Income on S Corporation Indebtedness. Do college students have to file taxes For purposes of § 108(i), an S corporation’s COD income deferred under § 108(i) is shared pro rata only among those shareholders that are shareholders of the S corporation immediately before the reacquisition transaction. Do college students have to file taxes . Do college students have to file taxes 11 Deferred COD Income, Earnings and Profits, and Alternative Minimum Taxable Income. Do college students have to file taxes (1) In general. Do college students have to file taxes The Service and Treasury Department intend to issue regulations regarding the computation of a corporation’s earnings and profits with respect to COD income and OID deductions that are deferred under § 108(i). Do college students have to file taxes These regulations generally will provide that deferred COD income increases earnings and profits in the taxable year that it is realized and not in the taxable year or years that the deferred COD income is includible in gross income. Do college students have to file taxes OID deductions deferred under § 108(i) generally will decrease earnings and profits in the taxable year or years in which the deduction would be allowed without regard to § 108(i). Do college students have to file taxes COD income and OID deductions that are deferred increase or decrease adjusted current earnings under § 56(g)(4) in the taxable year or years that the income or deduction is includible or deductible in determining taxable income. Do college students have to file taxes See § 1. Do college students have to file taxes 56(g)-1(c)(1). Do college students have to file taxes (2) Exceptions for certain special status corporations. Do college students have to file taxes The Service and Treasury Department intend to issue regulations providing that in the case of regulated investment companies and real estate investment trusts, COD income deferred under § 108(i) generally increases earnings and profits in the taxable year or years in which the deferred COD income is includible in gross income and not in the year that the deferred COD income is realized. Do college students have to file taxes OID deductions deferred under § 108(i) generally decrease earnings and profits in the taxable year or years that the deferred OID deductions are deductible. Do college students have to file taxes . Do college students have to file taxes 12 Extension of Time to Make Election. Do college students have to file taxes Under § 301. Do college students have to file taxes 9100-1 of the Procedure and Administration Regulations, the Service may grant an extension of time to make a regulatory election. Do college students have to file taxes An election is a regulatory election if the due date is prescribed by regulation or other published guidance of general applicability. Do college students have to file taxes Section 301. Do college students have to file taxes 9100-2(a) provides an automatic 12-month extension from the due date for making certain regulatory elections. Do college students have to file taxes SECTION 3. Do college students have to file taxes SCOPE This revenue procedure applies to taxpayers that realize COD income from a reacquisition after December 31, 2008, and before January 1, 2011, of an applicable debt instrument, as provided in § 108(i). Do college students have to file taxes SECTION 4. Do college students have to file taxes ELECTION PROCEDURES . Do college students have to file taxes 01 In General. Do college students have to file taxes (1) A taxpayer within the scope of this revenue procedure makes the § 108(i) election by— (a) Attaching a statement meeting the requirements of section 4. Do college students have to file taxes 05 of this revenue procedure to the taxpayer’s timely filed (including extensions) original federal income tax return for the taxable year in which the reacquisition of the applicable debt instrument occurs, and (b) If applicable, satisfying the additional requirements of section 4. Do college students have to file taxes 07, 4. Do college students have to file taxes 08, 4. Do college students have to file taxes 09, or 4. Do college students have to file taxes 10 of this revenue procedure. Do college students have to file taxes (2) The Service grants an automatic extension of 12 months from the due date prescribed in section 4. Do college students have to file taxes 01(1)(a) of this revenue procedure for making the § 108(i) election. Do college students have to file taxes The rules that apply to an automatic extension under § 301. Do college students have to file taxes 9100-2(a) apply to this automatic extension. Do college students have to file taxes . Do college students have to file taxes 02 Section 108(i) Elections Made by Members of Consolidated Groups. Do college students have to file taxes The common parent of a consolidated group makes the § 108(i) election on behalf of all members of the group. Do college students have to file taxes See § 1. Do college students have to file taxes 1502-77(a). Do college students have to file taxes . Do college students have to file taxes 03 Aggregation Rule. Do college students have to file taxes A taxpayer within the scope of this revenue procedure may treat two or more applicable debt instruments that are part of the same issue and that are reacquired during the same taxable year as one applicable debt instrument for purposes of this revenue procedure. Do college students have to file taxes A pass-through entity may not treat two or more applicable debt instruments as one applicable debt instrument under this section 4. Do college students have to file taxes 03 if the owners and their ownership interests in the pass-through entity immediately prior to the reacquisition of each applicable debt instrument are not identical. Do college students have to file taxes . Do college students have to file taxes 04 Partial Elections. Do college students have to file taxes (1) A taxpayer within the scope of this revenue procedure may make an election for any portion of COD income realized from the reacquisition of any applicable debt instrument. Do college students have to file taxes Thus, for example, if a taxpayer realizes $100 of COD income from the reacquisition of an applicable debt instrument, the taxpayer may elect under § 108(i)(1) to defer only $40 of the $100 of COD income. Do college students have to file taxes The taxpayer may exclude from income the portion of COD income that the taxpayer does not elect to defer under § 108(i) ($60 in this example) under § 108(a)(1)(A), (B), (C), or (D), if applicable. Do college students have to file taxes (2) A taxpayer is not required to make an election for the same portion of COD income arising from each applicable debt instrument that it reacquires, but may make an election for different portions of COD income arising from different applicable debt instruments (whether or not part of the same issue). Do college students have to file taxes Thus, for example, if a taxpayer realizes $100 of COD income from the reacquisition of an applicable debt instrument (Instrument A) and $100 of COD income from the reacquisition of a different applicable debt instrument (Instrument B), the taxpayer may elect to defer all or a portion of the COD income associated with Instrument A and none or a different portion of the COD income associated with Instrument B. Do college students have to file taxes (3) A partnership that elects to defer less than all of the COD income realized from the reacquisition of an applicable debt instrument may determine, in any manner, the portion, if any, of a partner’s COD income amount that is the partner’s deferred amount and the portion, if any, of a partner’s COD income amount that is the partner’s included amount. Do college students have to file taxes Thus, for example, one partner’s deferred amount may be zero while another partner’s deferred amount may equal that partner’s COD income amount (or any portion thereof). Do college students have to file taxes A partner may exclude from income the partner’s included amount under § 108(a)(1)(A), (B), (C), or (D), if applicable. Do college students have to file taxes The provisions of this section 4. Do college students have to file taxes 04(3) apply for purposes of § 108(i) only and are not intended as an interpretation of or a change to existing law under § 704. Do college students have to file taxes . Do college students have to file taxes 05 Contents of Election Statement. Do college students have to file taxes A statement meets the requirements of this section 4. Do college students have to file taxes 05 if the statement— (1) Label. Do college students have to file taxes States “Section 108(i) Election” across the top. Do college students have to file taxes (2) Required information. Do college students have to file taxes Provides, for each applicable debt instrument the reacquisition of which generates COD income that the taxpayer is electing to defer under § 108(i)— (a) The name and taxpayer identification numbers, if any, of the issuer or issuers of the applicable debt instrument; (b) A general description of the applicable debt instrument (including the issue and maturity dates) and, in the case of any person other than a C corporation, a general description of the person’s trade or business to which the applicable debt instrument is connected; (c) A general description of the reacquisition transaction or transactions generating the COD income (including the date(s) of the transaction(s)); (d) The total amount of COD income for the applicable debt instrument that results from the reacquisition (in the case of a partnership, the aggregate of the partners’ COD income amounts) and a general description of the manner in which this amount is calculated; (e) The amount of COD income for the applicable debt instrument that the taxpayer is electing to defer under § 108(i); (f) In the case of a partnership, a list of partners that have a deferred amount, their identifying information and each partner’s deferred amount; and in the case of an S corporation, a list of shareholders with COD income deferred under § 108(i), their identifying information and each shareholder’s share of the S corporation’s deferred COD income; and (g) In cases in which a new debt instrument is issued or deemed issued in exchange for the applicable debt instrument (including exchanges under § 108(e)(4), § 108(i)(2)(B), and § 1. Do college students have to file taxes 1001-3), the issuer’s name, the issuer’s taxpayer identification number, if any, a general description of the new debt instrument and whether the new debt instrument has OID, and if the new debt instrument has OID, a schedule of the OID that the issuer expects to accrue each taxable year on the instrument and the amount of OID that the issuer expects to defer under § 108(i)(2) each taxable year. Do college students have to file taxes . Do college students have to file taxes 06 Supplemental information. Do college students have to file taxes The statement described in section 4. Do college students have to file taxes 05 of this revenue procedure may specify for each applicable debt instrument an amount greater than the amount identified in section 4. Do college students have to file taxes 05(2)(e) of this revenue procedure that the taxpayer elects to defer under § 108(i) in the event the Service subsequently concludes that the taxpayer understated the amount of COD income described in section 4. Do college students have to file taxes 05(2)(d) of this revenue procedure. Do college students have to file taxes This additional amount of COD income the taxpayer elects to defer may be described as the entire additional COD income, or as a percentage of any additional COD income. Do college students have to file taxes If the taxpayer is a partnership, the partnership must specify each partner’s share of the partnership’s additional COD income that would be deferred (the partner’s additional deferred amount), which the partnership may describe for each partner as the partner’s entire share of the partnership’s additional COD income or as a percentage of the partner’s share of the partnership’s additional COD income. Do college students have to file taxes If the taxpayer is an S corporation, the S corporation must specify each shareholder’s share of the S corporation’s additional COD income that would be deferred, which the S corporation may describe for each shareholder as the shareholder’s entire share of the S corporation’s additional COD income or as a percentage of the shareholder’s share of the S corporation’s additional COD income. Do college students have to file taxes In the case of partnerships and S corporations, the additional COD income and the portion of additional COD income that would be deferred are allocated or determined as provided in sections 2. Do college students have to file taxes 08, 2. Do college students have to file taxes 10 and, if applicable, 4. Do college students have to file taxes 04(3) of this revenue procedure, respectively, as if the additional COD income was realized. Do college students have to file taxes . Do college students have to file taxes 07 Additional Requirements for Certain Partnerships Making a § 108(i) Election. Do college students have to file taxes The rules of this section 4. Do college students have to file taxes 07 apply to partnerships other than partnerships described in section 4. Do college students have to file taxes 10 of this revenue procedure. Do college students have to file taxes (1) Information filing on Schedule K-1 (Form 1065 and Form 1065-B). Do college students have to file taxes For the taxable year in which the § 108(i) election is made, the partnership must report on the Schedule K-1 (Form 1065 or Form 1065-B), Partner’s Share of Income, Deductions, Credits, etc. Do college students have to file taxes , in the manner specified in the instructions to the forms, for each partner § 108(i) information on an aggregate basis for all applicable debt instruments for which a § 108(i) election is made. Do college students have to file taxes Partnerships reporting § 108(i) information on the 2008 Schedule K-1 (Form 1065 or Form 1065-B) must report for each partner on an aggregate basis for all applicable debt instruments for which a § 108(i) election is made: (a) The partner’s deferred amount that the partner must include in income in the current taxable year under § 108(i)(1) or § 108(i)(5)(D)(i) or (ii), in box 11 (“other income”) using code F for Schedule K-1 (Form 1065) or in box 9 (“other”) using code U for Schedule K-1 (Form 1065-B); (b) The partner’s share of the partnership’s OID deduction deferred under § 108(i)(2)(A)(i) that is allowable as a deduction in the current taxable year under § 108(i)(2)(A)(ii) or § 108(i)(5)(D)(i) or (ii), in box 13 (“other deductions”) using code W for Schedule K-1 (Form 1065) or in box 9 (“other”) using code U for Schedule K-1 (Form 1065-B); (c) The partner’s deferred amount that has not been included in income in the current or prior taxable years, in box 20 (“other information”) using code X for Schedule K-1 (Form 1065) or in box 9 (“other”) using code U for Schedule K-1 (Form 1065-B); (d) The partner’s share of the partnership’s OID deduction deferred under § 108(i)(2)(A)(i) that has not been deducted in the current or prior taxable years, in box 20 (“other information”) using code X for Schedule K-1 (Form 1065) or in box 9 (“other”) using code U for Schedule K-1 (Form 1065-B); (e) The partner’s deferred § 752 amount that is treated as a distribution of money to the partner under § 752 in the current taxable year, in box 20 (“other information”) using code X for Schedule K-1 (Form 1065) or in box 9 (“other”) using code U for Schedule K-1 (Form 1065-B); and (f) The partner’s deferred § 752 amount remaining as of the end of the current taxable year, in box 20 (“other information”) using code X for Schedule K-1 (Form 1065) or in box 9 (“other”) using code U for Schedule K-1 (Form 1065-B). Do college students have to file taxes (2) Election information statement provided to partners. Do college students have to file taxes The partnership must attach to the Schedule K-1 (Form 1065 or Form 1065-B) provided to each partner for the taxable year in which the § 108(i) election is made a statement satisfying the requirements of this section 4. Do college students have to file taxes 07(2). Do college students have to file taxes The partnership should not attach these statements to the Schedules K-1 that are filed with the Service, but must retain these statements, and each partner must retain that partner’s statement, in their respective books and records. Do college students have to file taxes A statement meets the requirements of this section 4. Do college students have to file taxes 07(2) if the statement— (a) Label. Do college students have to file taxes States “Section 108(i) Election Information Statement for Partners” across the top. Do college students have to file taxes (b) Required information. Do college students have to file taxes Clearly identifies for each applicable debt instrument to which an election under § 108(i) applies— (i) The partner’s COD income amount, the partner’s deferred amount, and the partner’s included amount; (ii) The partner’s deferred amount that the partner must include in income in the current taxable year under § 108(i)(5)(D)(i) or (ii); (iii) The partner’s share of the partnership’s OID deduction deferred under § 108(i)(2)(A)(i) in the current taxable year; (iv) The partner’s share of the partnership’s OID deduction deferred under § 108(i)(2)(A)(i) that is allowable as a deduction in the current taxable year under § 108(i)(5)(D)(i) or (ii); (v) The partner’s share of each liability of the partnership described in section 4. Do college students have to file taxes 05(2)(g) of this revenue procedure; (vi) The partner’s share of the decrease in the partnership liability that results from the reacquisition of the applicable debt instrument; (vii) The partner’s share of the decrease in the partnership liability that results from the reacquisition of the applicable debt instrument that is treated as a distribution of money to the partner under § 752 in the current taxable year; (viii) The partner’s deferred § 752 amount as described in section 2. Do college students have to file taxes 09 of this revenue procedure; (ix) The partner’s additional deferred amount as described in section 4. Do college students have to file taxes 06 of this revenue procedure; and (x) The date of the reacquisition transaction generating the COD income. Do college students have to file taxes (c) If a partner fails to provide the written statement required by section 4. Do college students have to file taxes 07(3) of this revenue procedure, the partnership must indicate that the amounts described in section 4. Do college students have to file taxes 07(2)(b)(vii) and (viii) of this revenue procedure cannot be calculated because the partner did not provide the information necessary to report these amounts. Do college students have to file taxes (3) Partner reporting requirements. Do college students have to file taxes The partnership must make reasonable efforts prior to making a § 108(i) election to secure from each partner with a deferred amount for which it does not have the information necessary to compute the partner’s basis in its partnership interest (and its deferred § 752 amount as described in section 2. Do college students have to file taxes 09 of this revenue procedure) a written statement signed under penalties of perjury that includes this information. Do college students have to file taxes Each partner with a deferred amount must provide this written statement to the partnership within 30 days of the date of request by the partnership. Do college students have to file taxes A partner’s failure to comply with this reporting requirement does not invalidate the partnership’s election under § 108(i) for an applicable debt instrument only if the partnership makes reasonable efforts before making the § 108(i) election to obtain the written statement from the partner and otherwise complies with the requirements of section 4 of this revenue procedure. Do college students have to file taxes If a partner provides its written statement under this section 4. Do college students have to file taxes 07(3) after the partnership has provided to the partner the Section 108(i) Election Information Statement for Partners, the partnership must provide to the partner a revised Section 108(i) Election Information Statement for Partners reporting the information required under section 4. Do college students have to file taxes 07(2)(b)(vii) and (viii) of this revenue procedure and report the partner’s deferred § 752 amount on the partner’s Schedule K-1 (Form 1065 or Form 1065-B) in subsequent taxable years. Do college students have to file taxes . Do college students have to file taxes 08 Additional Requirements for an S Corporation Making a § 108(i) Election. Do college students have to file taxes (1) Information filing on Schedule K-1 (Form 1120S). Do college students have to file taxes For the taxable year in which the § 108(i) election is made, the S corporation must report on the Schedule K-1 (Form 1120S), Shareholder’s Share of Income, Deductions, Credits, etc. Do college students have to file taxes , in the manner specified in the instructions to the forms, for each shareholder § 108(i) information on an aggregate basis for all applicable debt instruments for which a § 108(i) election is made. Do college students have to file taxes S corporations reporting § 108(i) information on the 2008 Schedule K-1 (Form 1120S) must report for each shareholder, on an aggregate basis for all applicable debt instruments for which a § 108(i) election is made, the shareholder’s share of the S corporation’s: (a) COD income deferred under § 108(i) that the shareholder must include in income in the current taxable year under § 108(i)(1) or § 108(i)(5)(D)(i) or (ii), in box 10 (“other income”) using code E; (b) OID deduction deferred under § 108(i)(2)(A)(i) that is allowable as a deduction in the current taxable year under § 108(i)(2)(A)(ii), or § 108(i)(5)(D)(i) or (ii), in box 12 (“other deductions”) using code S; (c) COD income deferred under § 108(i) that has not been included in income in the current or prior taxable years, in box 17 (“other information”) using code T; and (d) OID deduction deferred under § 108(i)(2)(A)(i) that has not been deducted in the current or prior taxable years, in box 17 (“other information”) using code T. Do college students have to file taxes (2) Election information statement provided to shareholders. Do college students have to file taxes The S corporation must attach to the Schedule K-1 (Form 1120S) provided to each shareholder for the taxable year in which the § 108(i) election is made, a statement satisfying the requirements of this section 4. Do college students have to file taxes 08(2). Do college students have to file taxes The S corporation should not attach these statements to the Schedules K-1 that are filed with the Service, but must retain these statements, and each shareholder must retain that shareholder’s statement, in their respective books and records. Do college students have to file taxes A statement meets the requirements of this section 4. Do college students have to file taxes 08(2) if the statement— (a) Label. Do college students have to file taxes States “Section 108(i) Election Information Statement for Shareholders” across the top. Do college students have to file taxes (b) Required information. Do college students have to file taxes Clearly identifies for each applicable debt instrument to which an election under § 108(i) applies, the shareholder’s share of the S corporation’s— (i) COD income that the S corporation elects to defer under § 108(i); (ii) COD income deferred under § 108(i) that the shareholder must include in income in the current taxable year under § 108(i)(5)(D)(i) or (ii); (iii) OID deduction deferred under § 108(i)(2)(A)(i) in the current taxable year; (iv) OID deduction deferred under § 108(i)(2)(A)(i) that is allowable as a deduction in the current taxable year under § 108(i)(5)(D)(i) or (ii); and (v) Additional COD income that would be deferred as described in section 4. Do college students have to file taxes 06 of this revenue procedure. Do college students have to file taxes . Do college students have to file taxes 09 Section 108(i) Elections Made on Behalf of Certain Foreign Corporations. Do college students have to file taxes The controlling domestic shareholder(s) (or common parent of the controlling domestic shareholder(s), if applicable) of a controlled foreign corporation or a noncontrolled § 902 corporation not otherwise required to file a return of tax may make the § 108(i) election on behalf of the foreign corporation by satisfying the requirements of § 1. Do college students have to file taxes 964-1(c)(3). Do college students have to file taxes Each controlling domestic shareholder must attach a statement identifying the foreign corporation and satisfying the requirements of section 4. Do college students have to file taxes 05 of this revenue procedure and, if applicable, section 4. Do college students have to file taxes 06 of this revenue procedure, to its federal income tax return for the taxable year ending within or with the taxable year of the foreign corporation for which the § 108(i) election is made. Do college students have to file taxes . Do college students have to file taxes 10 Section 108(i) Elections Made By Certain Foreign Partnerships. Do college students have to file taxes The rules of this section 4. Do college students have to file taxes 10 apply to a foreign partnership making a § 108(i) election that is not otherwise required to file a federal partnership return (“nonfiling foreign partnership”). Do college students have to file taxes See § 1. Do college students have to file taxes 6031(a)-1(b). Do college students have to file taxes (1) A nonfiling foreign partnership making the election must attach a statement satisfying the requirements of section 4. Do college students have to file taxes 05 of this revenue procedure and, if applicable, section 4. Do college students have to file taxes 06 of this revenue procedure, to a partnership return satisfying the requirements of § 1. Do college students have to file taxes 6031(a)-1(b)(5) it files with the Service. Do college students have to file taxes In addition, a nonfiling foreign partnership must include in the information required in section 4. Do college students have to file taxes 05(2)(d) and (e) of this revenue procedure the aggregate amounts for all partners as well as the aggregate amounts for all U. Do college students have to file taxes S. Do college students have to file taxes persons (as defined in § 7701(a)(30)) and controlled foreign corporation(s) that are partners with deferred amounts in the nonfiling foreign partnership (“affected partners”). Do college students have to file taxes (2) The nonfiling foreign partnership must make the election, in accordance with § 1. Do college students have to file taxes 6031(a)-1(b)(5), by the date provided in section 4. Do college students have to file taxes 01(1)(a) of this revenue procedure, as if it had a filing obligation for the taxable year in which the reacquisition of the applicable debt instrument occurs. Do college students have to file taxes (3) For each affected partner, the partnership must file with the Service a Schedule K-1 (Form 1065) and report on the Schedule K-1 (Form 1065) for the affected partner as provided in section 4. Do college students have to file taxes 07(1) of this revenue procedure. Do college students have to file taxes Except for this § 108(i) information, the partnership need not complete Part III of the Schedule K-1 (Form 1065). Do college students have to file taxes The partnership must provide a copy of the respective Schedule K-1 (Form 1065) to each affected partner and must also attach to the Schedule K-1 (Form 1065) provided to each affected partner a statement satisfying the requirements of section 4. Do college students have to file taxes 07(2) of this revenue procedure by the date provided in section 4. Do college students have to file taxes 01(1)(a) of this revenue procedure. Do college students have to file taxes The partnership should not attach any statement described in section 4. Do college students have to file taxes 07(2) of this revenue procedure to the Schedules K-1 that are filed with the Service. Do college students have to file taxes However, the partnership must retain the statements provided to the affected partners, and each affected partner must retain that partner’s statement, in their respective books and records. Do college students have to file taxes (4) The partnership and each affected partner must satisfy the requirements of section 4. Do college students have to file taxes 07(3) of this revenue procedure. Do college students have to file taxes . Do college students have to file taxes 11 Protective § 108(i) Election. Do college students have to file taxes (1) In general. Do college students have to file taxes A taxpayer may make a protective election under § 108(i) for an applicable debt instrument if the taxpayer concludes that a particular transaction does not result in the realization of COD income, reports the transaction on its federal income tax return in a manner consistent with the taxpayer’s conclusion, and would be within the scope of this revenue procedure if the taxpayer’s conclusion were incorrect. Do college students have to file taxes If the Service at any time determines the taxpayer’s conclusion that the particular transaction does not result in the realization of COD income is incorrect, the taxpayer’s protective election is treated as a valid, irrevocable election under § 108(i). Do college students have to file taxes Thus, if a taxpayer makes a protective election, the Service subsequently may require the taxpayer to report COD income deferred pursuant to the valid and irrevocable protective election even if the statute of limitations has expired for the year in which the COD income was realized and the protective election was made. Do college students have to file taxes A taxpayer makes a protective election by attaching a statement satisfying the requirements of this section 4. Do college students have to file taxes 11(1) to the taxpayer’s original federal income tax return within the period described in section 4. Do college students have to file taxes 01(1)(a) of this revenue procedure. Do college students have to file taxes The taxpayer also must attach the election to its federal income tax return in each of the 8 or 9 taxable years, as applicable, following the taxable year of the election. Do college students have to file taxes A statement meets the requirements of this section 4. Do college students have to file taxes 11(1) if the statement— (a) States “Section 108(i) Protective Election” across the top; (b) Provides the information required under section 4. Do college students have to file taxes 05(2)(a), (b), and (c) of this revenue procedure; (c) Provides that the amounts described in sections 4. Do college students have to file taxes 05(2)(d) and (e) of this revenue procedure are zero; and (d) Provides the information described in section 4. Do college students have to file taxes 06 of this revenue procedure. Do college students have to file taxes (2) Statements provided to shareholders and partners. Do college students have to file taxes (a) For each applicable debt instrument, a partnership or S corporation that makes a protective election must attach to the Schedule K-1 (Form 1065, Form 1065-B, or Form 1120S) it provides each of its partners or shareholders, as the case may be, for the taxable year in which the protective election is made a statement containing the information described in section 4. Do college students have to file taxes 11(1)(b) of this revenue procedure (an S corporation need not provide its shareholders with the date(s) of the transaction(s) that would constitute the reacquisition transaction or transactions) and the partner’s or shareholder’s share of the additional COD income that would be deferred as described in section 4. Do college students have to file taxes 11(1)(d) of this revenue procedure. Do college students have to file taxes (b) The partnership or S corporation should not attach the statements described in this section 4. Do college students have to file taxes 11(2) to the Schedules K-1 that are filed with the Service but must retain these statements, and each partner and shareholder must retain that partner’s or shareholder’s statement, in their respective books and records. Do college students have to file taxes . Do college students have to file taxes 12 Election-Year Reporting by Tiered Pass-Through Entities. Do college students have to file taxes (1) A partnership required to file a U. Do college students have to file taxes S. Do college students have to file taxes partnership return other than under § 1. Do college students have to file taxes 6031(a)-1(b)(5), or an S corporation, that receives a Schedule K-1 (Form 1065 or Form 1065-B) reflecting its share of any items listed in section 4. Do college students have to file taxes 07(1) of this revenue procedure, must report on the Schedules K-1 (Form 1065, Form 1065-B, or Form 1120S) to its partners or shareholders, as the case may be, each partner’s or shareholder’s share of those items (an S corporation only reports to its shareholders the items described in section 4. Do college students have to file taxes 07(1)(a) through (d) of this revenue procedure). Do college students have to file taxes (2) If a partnership described in section 4. Do college students have to file taxes 12(1) of this revenue procedure receives a statement described in sections 4. Do college students have to file taxes 07(2) or 4. Do college students have to file taxes 10(3) of this revenue procedure or this section 4. Do college students have to file taxes 12(2), it must provide each of its partners a statement containing the partner’s share of each of the items listed on each statement received by the partnership, including the information described in section 4. Do college students have to file taxes 07(2)(b)(x) of this revenue procedure. Do college students have to file taxes If an S corporation receives a statement described in sections 4. Do college students have to file taxes 07(2) or 4. Do college students have to file taxes 10(3) of this revenue procedure or this section 4. Do college students have to file taxes 12(2), it must provide each of its shareholders a statement containing the shareholder’s share of each of the items listed on each statement received by the S corporation that are described in section 4. Do college students have to file taxes 07(2)(b)(i), (ii), (iii), (iv) and (ix) of this revenue procedure. Do college students have to file taxes The partnership or S corporation must attach this statement or statements to the Schedule K-1 (Form 1065, Form 1065-B, or Form 1120S) that it provides to each of its partners or shareholders, as the case may be, for the taxable year of the partnership or S corporation. Do college students have to file taxes The partnership or S corporation should not attach these statements to the Schedules K-1 that are filed with the Service but must retain these statements, and each partner and shareholder must retain that partner’s or shareholder’s statement, in their respective books and records. Do college students have to file taxes (3) A partnership that receives a statement described in this section 4 identifying its COD income amount with respect to an applicable debt instrument must allocate its COD income amount, without regard to § 108(i), to the partners in the partnership immediately before the reacquisition transaction in the manner in which the income would be included in the distributive shares of these partners under § 704 and the regulations thereunder, including § 1. Do college students have to file taxes 704-1(b)(2)(iii). Do college students have to file taxes The partnership may determine in any manner the portion, if any, of a partner’s COD income amount that is the partner’s deferred amount and the portion, if any, of a partner’s COD income amount that is the partner’s included amount. Do college students have to file taxes No partner’s deferred amount with respect to an applicable debt instrument may exceed its COD income amount with respect to the applicable debt instrument, and the aggregate of deferred amounts of its partners with respect to an applicable debt instrument must equal the partnership’s deferred amount with respect to the applicable debt instrument. Do college students have to file taxes The partnership allocates amounts described in section 4. Do college students have to file taxes 06 of this revenue procedure under this section 4. Do college students have to file taxes 12(3) as if the additional COD income was realized. Do college students have to file taxes (4) The deferred § 752 amount for partners in a partnership making a § 108(i) election is calculated only for the partnership’s direct partners. Do college students have to file taxes No further adjustment to the deferred § 752 amount is made to reflect the basis or other attributes of partners that are indirect partners in the partnership. Do college students have to file taxes (5) If an S corporation receives a statement described in this section 4 identifying its COD income amount, deferred amount, included amount or additional COD income that would be deferred with respect to an applicable debt instrument, these amounts are shared pro rata only among those shareholders that are shareholders in the S corporation immediately before the reacquisition transaction. Do college students have to file taxes (6) This paragraph 4. Do college students have to file taxes 12(6) provides the rules for Category 1 and Category 2 filers of Form 8865, Return of U. Do college students have to file taxes S. Do college students have to file taxes Persons With Respect to Certain Foreign Partnerships, as defined in the instructions for Form 8865, if the foreign partnership, for which the Category 1 or Category 2 filer has a filing requirement, receives a Schedule K-1 (Form 1065 or Form 1065-B) reflecting the partnership’s share of any items listed in section 4. Do college students have to file taxes 07(1) of this revenue procedure, or a statement described in sections 4. Do college students have to file taxes 07(2) or 4. Do college students have to file taxes 10(3) of this revenue procedure (because the foreign partnership owns an interest directly or indirectly in another partnership in which an election was made under § 108(i) with respect to that foreign partnership’s distributive share from the other entity). Do college students have to file taxes (a) For each partner for whom the Category 1 filer is required to complete a Schedule K-1 (Form 8865) (which includes the Category 1 filer itself), the Category 1 filer must: (i) Include the information described in section 4. Do college students have to file taxes 07(1) of this revenue procedure in the Schedule K-1 (Form 8865) that the Category 1 filer files with the Service and completes for the partner; (ii) Produce a statement containing the partner’s share of the items listed on each statement received by the partnership; and (iii) Attach the statement described in section 4. Do college students have to file taxes 12(6)(a)(ii) of this revenue procedure to each Schedule K-1 (Form 8865) that it is required to provide to a partner of the foreign partnership. Do college students have to file taxes (b) A Category 2 filer must include its share of the information described in section 4. Do college students have to file taxes 07(1) on the Schedule K-1 (Form 8865) that it is required to complete. Do college students have to file taxes Category 2 filers also must complete a statement containing their share of the items listed on each statement received by the partnership. Do college students have to file taxes (c) The Category 1 and Category 2 filers should not attach the statements described in sections 4. Do college students have to file taxes 12(6)(a)(ii) and 4. Do college students have to file taxes 12(6)(b) of this revenue procedure, respectively, to the Schedules K-1 that are filed with the Service. Do college students have to file taxes However, Category 1 filers must retain the statements they complete and each partner must retain its own statement, in their respective books and records. Do college students have to file taxes (7) If as a result of § 108(i)(5)(D)(ii), a partner of a partnership described in section 4. Do college students have to file taxes 12(1) of this revenue procedure or a shareholder of an S corporation described in section 4. Do college students have to file taxes 12(1) of this revenue procedure must recognize items deferred under § 108(i), the partnership or S corporation must report these items on the Schedule K-1 (Form 1065, Form 1065-B, or Form 1120S) and statements provided to the partner or shareholder pursuant to section 4. Do college students have to file taxes 12(1) and (2) of this revenue procedure. Do college students have to file taxes Similar rules apply to Category 1 and Category 2 filers (Form 8865) described in section 4. Do college students have to file taxes 12(6) of this revenue procedure. Do college students have to file taxes (8) The provisions of section 4. Do college students have to file taxes 12(2), (3), (5) and (6) of this revenue procedure also apply to a statement received that is described in section 4. Do college students have to file taxes 11(2) of this revenue procedure, except that the information that must be provided are those items described in section 4. Do college students have to file taxes 11(1)(b) of this revenue procedure (an S corporation need not provide its shareholders with the date(s) of the transaction(s) that would constitute the reacquisition transaction or transactions) and the share of the partner or shareholder in the amounts described in section 4. Do college students have to file taxes 11(1)(d) of this revenue procedure. Do college students have to file taxes SECTION 5. Do college students have to file taxes REQUIRED INFORMATION STATEMENT . Do college students have to file taxes 01 Annual Information Statements. Do college students have to file taxes Pursuant to § 108(i)(7)(B), a taxpayer that makes an election under § 108(i) (except for a protective election under section 4. Do college students have to file taxes 11(1) of this revenue procedure) must attach a statement meeting the requirements of section 5. Do college students have to file taxes 02 of this revenue procedure to its federal income tax return for each taxable year beginning with the taxable year following the taxable year for which the taxpayer makes the election and ending with the first taxable year in which all items deferred under § 108(i) have been recognized. Do college students have to file taxes . Do college students have to file taxes 02 Contents of Statement. Do college students have to file taxes A statement meets the requirements of this section 5. Do college students have to file taxes 02 if the statement— (1) Label. Do college students have to file taxes States “Section 108(i) Information Statement” across the top; (2) Required information. Do college students have to file taxes Clearly identifies for each applicable debt instrument to which an election under § 108(i) applies— (a) COD income deferred under § 108(i) that is included in income in the current taxable year under § 108(i)(1); (b) COD income deferred under § 108(i) that is included in income in the current taxable year under § 108(i)(5)(D), including a description and date of the acceleration event described in § 108(i)(5)(D); (c) COD income deferred under § 108(i) that has not been included in income in the current or prior taxable years (in the case of a partnership, the aggregate of the partners’ deferred amounts that have not been included in income in the current or prior taxable years, and in the case of an S corporation, the S corporation’s COD income deferred under § 108(i) that has not been included in income in the current or prior taxable years); (d) OID deduction deferred under § 108(i)(2)(A)(i) that is allowable as a deduction in the current taxable year under § 108(i)(2)(A)(ii); (e) OID deduction deferred under § 108(i)(2)(A)(i) that is allowable as a deduction in the current taxable year under § 108(i)(5)(D); and (f) OID deduction deferred under § 108(i)(2)(A)(i) that has not been deducted in the current or prior taxable years. Do college students have to file taxes (3) Election attached. Do college students have to file taxes Includes a copy of the election statement described in section 4. Do college students have to file taxes 05 of this revenue procedure. Do college students have to file taxes . Do college students have to file taxes 03 Additional Annual Reporting Requirements for Certain Partnerships. Do college students have to file taxes The rules of this section 5. Do college students have to file taxes 03 apply to partnerships other than partnerships described in section 5. Do college students have to file taxes 05 of this revenue procedure. Do college students have to file taxes (1) In general. Do college students have to file taxes A partnership that makes an election under § 108(i) (except for a protective election under section 4. Do college students have to file taxes 11(1) of this revenue procedure) must attach to its federal income tax returns the statements required under section 5. Do college students have to file taxes 01 of this revenue procedure. Do college students have to file taxes In addition, for each taxable year in which a statement is required under section 5. Do college students have to file taxes 01 of this revenue procedure, the partnership must report on the Schedule K-1 (Form 1065 or Form 1065-B) for each partner § 108(i) information in the manner described in section 4. Do college students have to file taxes 07(1) of this revenue procedure. Do college students have to file taxes (2) Annual information statements provided to partners. Do college students have to file taxes The partnership must attach to the Schedule K-1 (Form 1065) provided to each partner for each taxable year in which a statement is required under section 5. Do college students have to file taxes 01 of this revenue procedure, a statement meeting the requirements of this section 5. Do college students have to file taxes 03(2). Do college students have to file taxes The partnership should not attach these statements to the Schedules K-1 that are filed with the Service, but must retain these statements, and each partner must retain that partner’s statement, in their respective books and records. Do college students have to file taxes A statement meets the requirements of this section 5. Do college students have to file taxes 03(2) if the statement— (a) Label. Do college students have to file taxes States “Section 108(i) Annual Information Statement for Partners” across the top of the statement. Do college students have to file taxes (b) Required information. Do college students have to file taxes Clearly identifies for each applicable debt instrument to which a § 108(i) election applies— (i) The partner’s deferred amount that has not been included in income as of the end of the prior taxable year; (ii) The partner’s deferred amount that the partner must include in income in the current taxable year under § 108(i)(1); (iii) The partner’s deferred amount that the partner must include in income in the current taxable year under § 108(i)(5)(D)(i) or (ii); (iv) The partner’s deferred amount that has not been included in income in the current or prior taxable years; (v) The partner’s share of the partnership’s OID deduction deferred under § 108(i)(2)(A)(i) in the current taxable year; (vi) The partner’s share of the partnership’s OID deduction deferred under § 108(i)(2)(A)(i) that is allowable as a deduction in the current taxable year under § 108(i)(2)(A)(ii); (vii) The partner’s share of the partnership’s OID deduction deferred under § 108(i)(2)(A)(i) that is allowable as a deduction in the current taxable year under § 108(i)(5)(D)(i) or (ii); (viii) The partner’s share of the partnership’s OID deduction deferred under § 108(i)(2)(A)(i) that has not been deducted in the current or prior taxable years; and (ix) The partner’s deferred § 752 amount that is treated as a distribution of money to the partner under § 752 in the current taxable year and any remaining deferred § 752 amount. Do college students have to file taxes If a partner fails to provide the written statement required by section 4. Do college students have to file taxes 07(3) of this revenue procedure, the partnership must indicate that the amounts described in this section 5. Do college students have to file taxes 03(2)(b)(ix) cannot be calculated because the partner did not provide the information necessary to report these amounts. Do college students have to file taxes . Do college students have to file taxes 04 Additional Annual Reporting Requirements for an S Corporation. Do college students have to file taxes (1) In general. Do college students have to file taxes An S corporation that makes an election under § 108(i) (except for a protective election under section 4. Do college students have to file taxes 11(1) of this revenue procedure) must attach to its federal income tax returns the statements required under section 5. Do college students have to file taxes 01 of this revenue procedure. Do college students have to file taxes In addition, for each taxable year in which a statement is required under section 5. Do college students have to file taxes 01 of this revenue procedure, the S corporation must report on the Schedule K-1 (Form 1120S) for each shareholder § 108(i) information in the manner described in section 4. Do college students have to file taxes 08(1) of this revenue procedure. Do college students have to file taxes (2) Annual information statements provided to shareholders. Do college students have to file taxes The S corporation must attach to the Schedule K-1 (Form 1120S) provided to each shareholder for each taxable year in which a statement is required under section 5. Do college students have to file taxes 01 of this revenue procedure a statement meeting the requirements of this section 5. Do college students have to file taxes 04(2). Do college students have to file taxes The S corporation should not attach these statements to the Schedules K-1 that are filed with the Service, but must retain these statements, and each shareholder must retain that shareholder’s statement, in their respective books and records. Do college students have to file taxes A statement meets the requirements of this section 5. Do college students have to file taxes 04(2) if the statement— (a) Label. Do college students have to file taxes States “Section 108(i) Annual Information Statement for Shareholders” across the top; (b) Required information. Do college students have to file taxes Clearly identifies for each applicable debt instrument to which an election under § 108(i) applies, the shareholder’s share of the S corporation’s— (i) COD income deferred under § 108(i) that has not been included in income as of the end of the prior taxable year; (ii) COD income deferred under § 108(i) that the shareholder must include in income in the current taxable year under § 108(i)(1); (iii) COD income deferred under § 108(i) that the shareholder must include in income in the current taxable year under § 108(i)(5)(D)(i) or (ii); (iv) COD income deferred under § 108(i) that has not been included in income in the current or prior taxable years; (v) OID deduction deferred under § 108(i)(2)(A)(i) in the current taxable year; (vi) OID deduction deferred under § 108(i)(2)(A)(i) that is allowable as a deduction in the current taxable year under § 108(i)(2)(A)(ii); (vii) OID deduction deferred under § 108(i)(2)(A)(i) that is allowable as a deduction in the current taxable year under § 108(i)(5)(D)(i) or (ii); and (viii) OID deduction deferred under § 108(i)(2)(A)(i) that has not been deducted in the current or prior taxable years. Do college students have to file taxes . Do college students have to file taxes 05 Additional Annual Reporting Requirements for Certain Foreign Partnerships. Do college students have to file taxes (1) The rules of this section 5. Do college students have to file taxes 05 apply to nonfiling foreign partnerships. Do college students have to file taxes (2) A nonfiling foreign partnership that makes an election under § 108(i) (except for a protective election under section 4. Do college students have to file taxes 11(1) of this revenue procedure) must file federal income tax returns with the Service containing the information under § 1. Do college students have to file taxes 6031(a)-1(b)(5) for each taxable year in which a statement is required by section 5. Do college students have to file taxes 01 of this revenue procedure. Do college students have to file taxes (3) The nonfiling foreign partnership must attach to its federal income tax returns the statements required under section 5. Do college students have to file taxes 01 of this revenue procedure, but only for that portion of the COD income allocated to affected partners. Do college students have to file taxes (4) For each taxable year in which a statement is required under section 5. Do college students have to file taxes 01 of this revenue procedure, the nonfiling foreign partnership must provide each affected partner a Schedule K-1 (Form 1065) reporting § 108(i) information in the manner described in section 4. Do college students have to file taxes 07(1) of this revenue procedure. Do college students have to file taxes Except for this § 108(i) information, the partnership need not complete Part III of the Schedule K-1 (Form 1065). Do college students have to file taxes The partnership must provide each affected partner with a copy of the Schedule K-1 (Form 1065) by the date provided in § 1. Do college students have to file taxes 6031(b)-1T(b). Do college students have to file taxes The partnership must attach the Schedules K-1 (Form 1065) to the federal income tax returns filed with the Service pursuant to section 5. Do college students have to file taxes 05(2) of this revenue procedure. Do college students have to file taxes (5) For each taxable year for which a statement is required under section 5. Do college students have to file taxes 01 of this revenue procedure, the nonfiling foreign partnership must attach to each affected partner’s Schedule K-1 (Form 1065) a statement meeting the requirements of section 5. Do college students have to file taxes 03(2) of this revenue procedure. Do college students have to file taxes The partnership should not attach these statements to the Schedules K-1 that are filed with the Service, but must retain the statements, and each partner must retain that partner’s statement, in their respective books and records. Do college students have to file taxes . Do college students have to file taxes 06 Information Statements Made on Behalf of Certain Foreign Corporations. Do college students have to file taxes Each controlling domestic shareholder must attach a statement identifying the foreign corporation and meeting the requirements of section 5. Do college students have to file taxes 02 of this revenue procedure to the shareholder’s federal income tax return for each taxable year for which a statement is required under section 5. Do college students have to file taxes 01 of this revenue procedure. Do college students have to file taxes . Do college students have to file taxes 07 Additional Annual Reporting Requirements for Tiered Pass-Through Entities. Do college students have to file taxes (1) A partnership required to file a U. Do college students have to file taxes S. Do college students have to file taxes partnership return other than under § 1. Do college students have to file taxes 6031(a)-1(b)(5), or an S corporation, that receives a Schedule K-1 (Form 1065 or Form 1065-B) described in the second sentence of section 5. Do college students have to file taxes 03(1) of this revenue procedure reflecting its share of any § 108(i) information must report on the Schedules K-1 (Form 1065, Form 1065-B, or Form 1120S) to its partners or shareholders, as the case may be, each partner’s or shareholder’s share of those items (an S corporation only reports to its shareholders the items described in section 4. Do college students have to file taxes 07(1)(a) through (d) of this revenue procedure). Do college students have to file taxes (2) If a partnership described in section 5. Do college students have to file taxes 07(1) of this revenue procedure receives a statement described in sections 5. Do college students have to file taxes 03(2) or 5. Do college students have to file taxes 05(5) of this revenue procedure or this section 5. Do college students have to file taxes 07(2), it must provide each of its partners a statement containing the partner’s share of each of the items listed on each statement received by the partnership. Do college students have to file taxes If an S corporation receives a statement described in sections 5. Do college students have to file taxes 03(2) or 5. Do college students have to file taxes 05(5) of this revenue procedure or this section 5. Do college students have to file taxes 07(2), it must provide each of its shareholders a statement containing the shareholder’s share of each of the items listed on each statement received by the S corporation that are described in section 5. Do college students have to file taxes 03(2)(b)(i) through (viii) of this revenue procedure. Do college students have to file taxes The partnership or S corporation must attach the statement or statements to the Schedule K-1 (Form 1065 or Form 1065-B) or Schedule K-1 (Form 1120S) that is provided to each of its partners or shareholders, as the case may be, for the taxable year of the partnership or S corporation. Do college students have to file taxes The partnership or S corporation should not attach these statements to the Schedules K-1 that are filed with the Service, but must retain these statements, and each partner and shareholder must retain that partner’s or shareholder’s statement, in their respective books and records. Do college students have to file taxes (3) This paragraph 5. Do college students have to file taxes 07(3) provides the rules for persons described in section 4. Do college students have to file taxes 12(6) of this revenue procedure if the foreign partnership, for which the Category 1 or 2 filer has a filing requirement, receives a Schedule K-1 (Form 1065 or Form 1065-B) reflecting the partnership’s share of any items described in the second sentence of section 5. Do college students have to file taxes 03(1) of this revenue procedure, or a statement described in sections 5. Do college students have to file taxes 03(2) or 5. Do college students have to file taxes 05(5) of this revenue procedure (because the foreign partnership owns an interest directly or indirectly in another partnership in which an election was made under § 108(i) with respect to that foreign partnership’s distributive share from the other entity). Do college students have to file taxes (a) For each partner for whom the Category 1 filer is required to complete a Schedule K-1 (Form 8865) (which includes the Category 1 filer itself), the Category 1 filer must: (i) Include the information described in section 4. Do college students have to file taxes 07(1) of this revenue procedure in the Schedule K-1 (Form 8865) that the Category 1 filer files with the Service and completes for the partner; (ii) Produce a statement containing the partner’s share of the items listed on each statement received by the partnership; and (iii) Attach the statement described in section 5. Do college students have to file taxes 07(3)(a)(ii) of this revenue procedure to each Schedule K-1 (Form 8865) that it is required to provide to a partner of the foreign partnership. Do college students have to file taxes (b) A Category 2 filer must include its share of the information described in section 4. Do college students have to file taxes 07(1) on the Schedule K-1 (Form 8865) that it is required to complete. Do college students have to file taxes Category 2 filers also must complete a statement containing their share of the items listed on each statement received by the partnership. Do college students have to file taxes (c) The Category 1 and Category 2 filers should not attach the statements described in sections 5. Do college students have to file taxes 07(3)(a)(ii) and 5. Do college students have to file taxes 07(3)(b) of this revenue procedure, respectively, to the Schedules K-1 that are filed with the Service. Do college students have to file taxes However, Category 1 filers must retain the statements they complete and each partner must retain its own statement, in their respective books and records. Do college students have to file taxes (4) If as a result of § 108(i)(5)(D)(ii), a partner of a partnership described in section 5. Do college students have to file taxes 07(1) of this revenue procedure or a shareholder of an S corporation described in section 5. Do college students have to file taxes 07(1) of this revenue procedure must recognize items deferred under § 108(i), the partnership or S corporation must report these items on the Schedule K-1 (Form 1065, Form 1065-B, or Form 1120S) and statements provided to the partner or shareholder pursuant to section 5. Do college students have to file taxes 07(1) and (2) of this revenue procedure. Do college students have to file taxes Similar rules apply to Category 1 and Category 2 filers (Form 8865) described in section 4. Do college students have to file taxes 12(6) of this revenue procedure. Do college students have to file taxes SECTION 6. Do college students have to file taxes EFFECTIVE DATE This revenue procedure is effective for reacquisitions of applicable debt instruments in taxable years ending after December 31, 2008. Do college students have to file taxes SECTION 7. Do college students have to file taxes TRANSITION RULE . Do college students have to file taxes 01 Noncomplying Election. Do college students have to file taxes Except as otherwise provided in this section 7. Do college students have to file taxes 01, the Service will treat a § 108(i) election as effective if a taxpayer files an election with the taxpayer’s federal income tax return filed on or before September 16, 2009, using any reasonable procedure to make the election. Do college students have to file taxes However, an election that does not comply with section 4 of this revenue procedure will not be effective unless the taxpayer on or before November 16, 2009, files an amended return for the taxable year of the election and complies with the requirements of section 4 of this revenue procedure. Do college students have to file taxes . Do college students have to file taxes 02 Modification of Election. Do college students have to file taxes A taxpayer that files a § 108(i) election on or before September 16, 2009, may modify that election by filing an amended return on or before November 16, 2009 (for example, to modify the amount of COD income the taxpayer elects to defer). Do college students have to file taxes To be effective, a modification of an election described in the preceding sentence must satisfy the requirements for an election described in section 4 of this revenue procedure. Do college students have to file taxes . Do college students have to file taxes 03 Notations. Do college students have to file taxes A taxpayer that files the amended return on paper must write “Section 108(i) Election” on the top of the first page. Do college students have to file taxes A taxpayer that files the amended return electronically should indicate “Section 108(i) Election” on the return. Do college students have to file taxes See Publication 4163, Modernized e-File (MeF) Information for Authorized IRS e-file Providers for Business Returns Tax Year 2008 for more details. Do college students have to file taxes SECTION 8. Do college students have to file taxes PAPERWORK REDUCTION ACT The collection of information contained in this revenue procedure has been reviewed and approved by the Office of Management and Budget in accordance with the Paperwork Reduction Act (44 U. Do college students have to file taxes S. Do college students have to file taxes C. Do college students have to file taxes 3507) under control number 1545-2147. Do college students have to file taxes An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless the collection of information displays a valid OMB control number. Do college students have to file taxes The collection of information in this revenue procedure is in sections 4, 5 and 7. Do college students have to file taxes This information is required to determine the amount of income and deductions a taxpayer elects to defer and to track those amounts until the taxpayer has reported all deferred income and deductions on the taxpayer’s tax return. Do college students have to file taxes This information will be used during examination to verify that a taxpayer has correctly deferred income and deductions. Do college students have to file taxes The collection of information is required to obtain a benefit. Do college students have to file taxes The likely respondents are C corporations, shareholders of S corporations, partners of partnerships, and other individuals engaged in a trade or business, that reacquire applicable debt instruments in 2009 or 2010. Do college students have to file taxes The estimated total annual reporting burden is 300,000 hours. Do college students have to file taxes The estimated annual burden per respondent varies from 1 to 8 hours, depending on individual circumstances, with an estimated average of 6 hours. Do college students have to file taxes The estimated number of respondents is 50,000. Do college students have to file taxes Books or records relating to a collection of information must be retained as long as their contents may become material in the administration of any internal revenue law. Do college students have to file taxes Generally, tax returns and return information are confidential, as required by § 6103. Do college students have to file taxes DRAFTING INFORMATION The principal authors of this revenue procedure are Megan A. Do college students have to file taxes Stoner of the Office of Associate Chief Counsel (Passthroughs & Special Industries) and Craig Wojay of the Office of Associate Chief Counsel (Income Tax & Accounting). Do college students have to file taxes For further information regarding this revenue procedure, contact Megan A. Do college students have to file taxes Stoner at (202) 622-3070 for questions involving partnerships and S corporations, William E. Do college students have to file taxes Blanchard at (202) 622-3950 for questions involving OID, Ronald M. Do college students have to file taxes Gootzeit at (202) 622-3860 for questions involving foreign entities, Robert Rhyne at (202) 622-7790 for questions involving earnings and profits and consolidated groups, and Craig Wojay at (202) 622-4920 for questions on § 108(i) generally (not toll-free calls). Do college students have to file taxes Prev  Up  Next   Home   More Internal Revenue Bulletins