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Do I Have To File State Taxes

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Do I Have To File State Taxes

Do i have to file state taxes 19. Do i have to file state taxes   Ajustes Tributarios por Estudios Table of Contents Introduction Useful Items - You may want to see: Deducción por Intereses sobre Préstamos de EstudiosDefinición de los Intereses sobre Préstamos de Estudios ¿Puede Reclamar la Deducción? ¿Cuánto Puede Deducir? ¿Cómo Calcular la Deducción? Deducción por Matrícula y Cuotas Escolares¿Puede Reclamar la Deducción? Gastos que Califican Estudiante que Reúne los Requisitos Quién Puede Reclamar los Gastos de un Dependiente Cuánto se Puede Deducir Gastos del Educador Introduction Este capítulo trata de ajustes relacionados con la educación que puede deducir al calcular el ingreso bruto ajustado. Do i have to file state taxes Este capítulo incluye información sobre la deducción por intereses sobre préstamos de estudios, la deducción de matrículas y cuotas escolares y la deducción por gastos del educador. Do i have to file state taxes Useful Items - You may want to see: Publicación 970 Tax Benefits for Education (Beneficios tributarios por estudios), en inglés Deducción por Intereses sobre Préstamos de Estudios Por lo general, los intereses personales que pague, salvo ciertos intereses hipotecarios, no son deducibles en la declaración de impuestos. Do i have to file state taxes No obstante, si su ingreso bruto ajustado modificado (MAGI, por sus siglas en inglés) es menos de $75,000 ($155,000 si presenta una declaración conjunta), se permite una deducción especial por los intereses pagados sobre préstamos de estudios (también conocidos como préstamos educativos) utilizados para enseñanza superior. Do i have to file state taxes Para la mayoría de los contribuyentes, el MAGI es el ingreso bruto ajustado en la declaración de impuestos federales sobre el ingreso antes de restar deducción alguna por intereses sobre préstamos de estudios. Do i have to file state taxes Esta deducción puede reducir la cantidad de su ingreso sujeto a impuestos hasta un máximo de $2,500 en el año 2013. Do i have to file state taxes La Tabla 19-1 resume características de la deducción por intereses sobre préstamos de estudios. Do i have to file state taxes Tabla 19-1. Do i have to file state taxes Resumen de la Deducción por Intereses sobre Préstamos de Estudios No se base únicamente en esta tabla. Do i have to file state taxes Consulte el texto para más detalles. Do i have to file state taxes Característica Descripción Beneficio máximo Puede reducir su ingreso tributable hasta un máximo de $2,500. Do i have to file state taxes Requisitos para obtener un préstamo Su préstamo de estudios: •  tiene que haber sido obtenido sólo para pagar gastos de estudios calificados y   • no puede ser de un pariente ni puede haberse hecho conforme a un plan calificado provisto por su empleador. Do i have to file state taxes Requisitos para estudiantes El estudiante tiene que: • ser usted, su cónyuge o su dependiente y   • estar matriculado por lo menos a tiempo parcial en un programa que lleve a obtener un título, certificación o cualquier otra credencial educacional en una institución educativa que reúne los requisitos. Do i have to file state taxes Plazo de la deducción Puede deducir intereses pagados durante el período que quede del préstamo de estudios. Do i have to file state taxes Eliminación gradual por fases La cantidad a deducir depende del nivel de ingresos. Do i have to file state taxes Definición de los Intereses sobre Préstamos de Estudios Los “intereses sobre préstamos de estudios” son intereses que usted pagó durante el año sobre un préstamo de estudios calificado. Do i have to file state taxes Incluyen tanto pagos de intereses obligatorios como pagos de intereses voluntarios. Do i have to file state taxes Préstamo de estudios calificado Éste es un préstamo que se obtuvo únicamente para pagar gastos de estudios calificados (definidos más adelante) que fueran: Para usted, su cónyuge o una persona que fue dependiente de usted (según se define en el capítulo 3) cuando obtuvo el préstamo; Pagados o incurridos dentro de un plazo razonable antes o después de que obtuviera el préstamo y Para estudios provistos durante un período académico cuando un estudiante reúne los requisitos. Do i have to file state taxes Los préstamos de las siguientes fuentes no son préstamos de estudios calificados: Un pariente. Do i have to file state taxes Un plan calificado proporcionado por un empleador. Do i have to file state taxes Excepciones. Do i have to file state taxes   Para propósitos de la deducción de intereses sobre un préstamo de estudios, las siguientes excepciones corresponden a las reglas generales para dependientes: Una persona puede ser su dependiente aunque usted mismo sea el dependiente de otro contribuyente. Do i have to file state taxes Una persona puede ser su dependiente aunque dicha persona presente una declaración conjunta con un cónyuge. Do i have to file state taxes Una persona puede ser su dependiente aunque dicha persona tuviera un ingreso bruto ese año que fuera igual o superior a la cantidad de exención para el año ($3,900 para el año 2013). Do i have to file state taxes Plazo razonable. Do i have to file state taxes   Los gastos de estudios calificados se consideran pagados u ocasionados dentro de un plazo razonable, antes o después de obtener el préstamo, si se pagan con fondos de préstamos de estudios que son parte de un programa federal de préstamos de estudios postsecundarios. Do i have to file state taxes   Aun si no se pagan con fondos de dicho tipo de préstamo, los gastos se consideran pagados u ocasionados dentro de un plazo razonable si se reúnen los dos siguientes requisitos: Los gastos se relacionan con un período académico específico. Do i have to file state taxes Los fondos del préstamo se desembolsan dentro de un período que comience 90 días antes del período académico y termine 90 días después del fin de dicho período. Do i have to file state taxes   Si ninguna de las situaciones indicadas anteriormente le corresponde, el plazo razonable se determina basándose en todos los hechos y circunstancias pertinentes. Do i have to file state taxes Período académico. Do i have to file state taxes   Un período académico incluye un semestre, trimestre, un cuatrimestre del año escolar u otro período de estudios (tal como un curso escolar de verano) según lo determine de manera razonable una institución de enseñanza superior. Do i have to file state taxes En el caso de una institución de enseñanza superior que no tenga períodos académicos, sino horas de crédito u horas de reloj, cada período de pago se puede considerar un período académico. Do i have to file state taxes Estudiante que reúne los requisitos. Do i have to file state taxes   Es un estudiante que estaba matriculado por lo menos a medio tiempo en un programa para obtener una licenciatura, un certificado u otro título educativo reconocido. Do i have to file state taxes Matriculado por lo menos a medio tiempo. Do i have to file state taxes   Un estudiante se considera que estaba matriculado por lo menos a medio tiempo si estaba tomando al menos la mitad de los cursos normales a tiempo completo de su programa de estudios. Do i have to file state taxes   Cada institución de enseñanza superior que reúna los requisitos establece lo que se considera la mitad de la carga académica habitual para ser estudiante a tiempo completo. Do i have to file state taxes No obstante, este estándar establecido no puede ser inferior a cualquiera que haya establecido el Departamento de Educación de los Estados Unidos conforme a la Higher Education Act (Ley de Enseñanza Superior) de 1965. Do i have to file state taxes Pariente. Do i have to file state taxes   No puede deducir intereses sobre un préstamo que obtenga de un pariente. Do i have to file state taxes Los parientes incluyen: Su cónyuge; Sus hermanos y hermanas; Sus medios hermanos y medias hermanas; Sus antecesores (padres, abuelos, etc. Do i have to file state taxes ); Sus descendientes en línea directa (hijos, nietos, etc. Do i have to file state taxes ) y Ciertas sociedades anónimas, sociedades colectivas, fideicomisos y organizaciones exentas de impuestos. Do i have to file state taxes Plan calificado proporcionado por un empleador. Do i have to file state taxes   No puede deducir intereses sobre un préstamo conforme a un plan calificado proporcionado por un empleador o bajo un contrato comprado conforme a tal plan. Do i have to file state taxes Gastos de Estudios Calificados Para propósitos de la deducción por intereses sobre préstamos de estudios, estos gastos son el total del costo de asistir a una institución de enseñanza superior que reúna los requisitos, incluyendo instituciones para estudios de posgrado. Do i have to file state taxes Incluyen cantidades pagadas por los siguientes conceptos: Matrícula y cuotas escolares. Do i have to file state taxes Alojamiento y comida. Do i have to file state taxes Libros, materiales y equipo. Do i have to file state taxes Otros gastos necesarios (tales como los de transporte). Do i have to file state taxes Los gastos de alojamiento y comida reúnen los requisitos sólo en la medida en que no sobrepasen las siguientes cantidades: La asignación para alojamiento y comida, según lo determine la institución de enseñanza superior correspondiente, que se incluyó en los gastos de asistencia a dicha institución (para propósitos de ayuda financiera federal) durante un período académico específico y alojamiento del estudiante, o Si es mayor, la cantidad exacta cobrada si el estudiante vive en alojamiento que sea propiedad de la institución de enseñanza superior que reúna los requisitos o sea operado por la misma. Do i have to file state taxes Institución de enseñanza superior que reúne los requisitos. Do i have to file state taxes   Una institución de enseñanza superior que reúne los requisitos es todo colegio universitario, universidad, escuelas de enseñanza técnica u otra institución de enseñanza superior todas con derecho a participar en un programa de asistencia financiera al estudiante, administrado por el Departamento de Educación de los Estados Unidos. Do i have to file state taxes Esta clase de institución abarca prácticamente todas las instituciones acreditadas de enseñanza superior públicas y sin fines de lucro así como las privadas con fines de lucro. Do i have to file state taxes   Determinadas instituciones de enseñanza superior ubicadas fuera de los Estados Unidos participan también en los programas de asistencia financiera al estudiante (Federal Student Aid (FSA, por sus siglas en inglés)) del Departamento de Educación de los Estados Unidos. Do i have to file state taxes   Para propósitos de la deducción por intereses sobre préstamos de estudios, una institución de enseñanza superior que reúne los requisitos incluye también una institución que administre un programa de estudiantes practicantes o de residencia para recibir un título universitario o un certificado de una institución de enseñanza superior, un hospital o un centro de atención médica que ofrezca capacitación de posgrado. Do i have to file state taxes   Una institución de enseñanza superior tiene que reunir los criterios establecidos en el párrafo anterior solamente durante el (los) período(s) académico(s) para el (los) cual(es) se incurrió el préstamo de estudios. Do i have to file state taxes La posibilidad de deducir los intereses sobre el préstamo no se ve afectada si la institución deja de reunir los requisitos más tarde. Do i have to file state taxes    La institución de enseñanza superior debe poder indicarle si la misma reúne los requisitos. Do i have to file state taxes Ajustes tributarios a gastos de estudios calificados. Do i have to file state taxes   Tiene que reducir sus gastos de estudios calificados por ciertos artículos exentos de impuestos (tales como la parte exenta de impuestos de becas de estudios y becas de investigación (becas de desarrollo profesional)). Do i have to file state taxes Vea el capítulo 4 de la Publicación 970, en inglés, para más detalles. Do i have to file state taxes Incluya estas Partidas como Intereses Además de los intereses simples sobre el préstamo, ciertos costos originarios del préstamo, intereses capitalizados, intereses sobre líneas de crédito rotativas e intereses sobre préstamos de estudios refinanciados pueden ser intereses sobre préstamos de estudios si se reúnen todos los demás requisitos. Do i have to file state taxes Costo originario del préstamo. Do i have to file state taxes   Normalmente, esto es un cargo que el prestamista cobra solamente una vez, al hacer un préstamo. Do i have to file state taxes Para ser deducible como intereses, dicho cargo tiene que ser por el uso de dinero en vez de bienes o servicios (como cargos por compromisos o costos de tramitación) proporcionados por el prestamista. Do i have to file state taxes Un costo originario del préstamo tratado como intereses se acumula a lo largo del plazo del préstamo. Do i have to file state taxes Intereses capitalizados. Do i have to file state taxes    Son intereses por pagar sobre un préstamo de estudios que el prestamista añade al saldo pendiente del capital del préstamo. Do i have to file state taxes Intereses sobre líneas de crédito rotativas. Do i have to file state taxes   Estos intereses, los cuales incluyen interés sobre deudas de tarjetas de crédito, es interés sobre préstamos de estudios si el prestatario usa la línea de crédito (tarjeta de crédito) sólo para pagar gastos de estudios calificados. Do i have to file state taxes Vea Gastos de Estudios Calificados , anteriormente. Do i have to file state taxes Intereses sobre préstamos de estudios refinanciados. Do i have to file state taxes   Incluyen intereses sobre lo siguiente: Préstamos consolidados —préstamos que se usan para refinanciar más de un préstamo de estudios del mismo prestatario y Préstamos conjuntos —dos o más préstamos del mismo prestatario que son tratados como un solo préstamo tanto por el prestamista como por el prestatario. Do i have to file state taxes Si refinancia un préstamo de estudios calificado por más del préstamo original y usa la cantidad adicional para algún propósito que no sea gastos de estudios calificados, no puede deducir los intereses pagados sobre el préstamo refinanciado. Do i have to file state taxes Pagos de intereses voluntarios. Do i have to file state taxes   Son pagos hechos sobre un préstamo de estudios calificado durante un período en el que los pagos de intereses no son obligatorios, por ejemplo, si al prestatario se le ha concedido un aplazamiento o si todavía no han empezado los reintegros del préstamo. Do i have to file state taxes No Incluya estas Partidas como Intereses No puede reclamar una deducción de intereses sobre préstamos de estudios por: Intereses que pagó sobre un préstamo si, según las condiciones del mismo, usted no está obligado legalmente a hacer pagos de intereses. Do i have to file state taxes Costos originarios del préstamo pagados por propiedad o servicios proporcionados por el prestamista, tales como cargos por compromiso o costos de tramitación. Do i have to file state taxes Intereses que pagó sobre un préstamo en la medida en que los pagos hayan sido hechos a través de su participación en el National Health Service Corps Loan Repayment Program (Programa para Reintegros de Préstamos del Cuerpo Nacional de Servicios de Salud), conocido también como el “ NHSC Loan Repayment Program ” (Programa para Reintegros de Préstamos del NHSC) o a través de otros programas de asistencia para el reintegro de préstamos. Do i have to file state taxes Para más información, vea Student Loan Repayment Assistance (Asistencia para el reintegro de préstamos de estudios) en el capítulo 5 de la Publicación 970, en inglés. Do i have to file state taxes ¿Puede Reclamar la Deducción? Normalmente, puede reclamar la deducción si se cumplen todos los requisitos siguientes: Su estado civil para efectos de la declaración es cualquier estado civil excepto casado que presenta su declaración por separado. Do i have to file state taxes Nadie más reclama una exención por usted en su declaración de impuestos. Do i have to file state taxes Está obligado por ley a pagar intereses sobre un préstamo de estudios calificado. Do i have to file state taxes Usted pagó intereses sobre un préstamo de estudios calificado. Do i have to file state taxes Intereses pagados por otros. Do i have to file state taxes   Si usted es la persona legalmente obligada a pagar intereses y otra persona los paga por usted, a usted se le trata como si hubiese recibido el pago de la otra persona y, a su vez, hubiese pagado los intereses. Do i have to file state taxes Vea el capítulo 4 de la Publicación 970, en inglés, para más información. Do i have to file state taxes No se Permite Beneficio Doble No puede deducir como intereses sobre un préstamo de estudios una cantidad que sea deducible conforme a alguna otra disposición de la ley tributaria (por ejemplo, intereses hipotecarios). Do i have to file state taxes ¿Cuánto Puede Deducir? Su deducción por intereses sobre préstamos de estudios para el año 2013 es normalmente la cantidad que sea menor entre: $2,500 o Los intereses que usted pagó en el año 2013. Do i have to file state taxes Sin embargo, la cantidad determinada anteriormente se reduce paulatinamente si su MAGI está entre $60,000 y $75,000 ($125,000 y $155,000 si presenta una declaración conjunta). Do i have to file state taxes No puede tomar una deducción por intereses sobre préstamos de estudios si su MAGI es $75,000 o más ($155,000 o más si presenta una declaración conjunta). Do i have to file state taxes Para más detalles sobre cómo calcular su MAGI, vea el capítulo 4 de la Publicación 970, en inglés. Do i have to file state taxes ¿Cómo Calcular la Deducción? Para calcular la deducción, se suele usar la Student Loan Interest Deduction Worksheet (Hoja de trabajo de la deducción de intereses sobre préstamos de estudios), de las instrucciones del Formulario 1040 o del Formulario 1040A. Do i have to file state taxes No obstante, si presenta el Formulario 2555, 2555-EZ o 4563, o si excluye ingresos de fuentes dentro de Puerto Rico, tiene que llenar la Hoja de Trabajo 4-1 del capítulo 4 de la Publicación 970, en inglés. Do i have to file state taxes Para ayudarle a calcular la deducción por intereses sobre préstamos de estudios, debe recibir el Formulario 1098-E, Student Loan Interest Statement (Declaración de intereses sobre préstamos de estudios), en inglés. Do i have to file state taxes Generalmente, una institución (como un banco o una agencia gubernamental) que recibió pagos de intereses de $600 o más durante el año 2013 sobre uno o más préstamos de estudios calificados tiene que enviarle el Formulario 1098-E (o documento sustitutivo aceptable) a cada prestatario a más tardar el 31 de enero del año 2014. Do i have to file state taxes Para los préstamos de estudios calificados que se obtuvieron antes del 1 de septiembre de 2004, la institución está obligada a anotar en el Formulario 1098-E solamente los pagos de intereses establecidos. Do i have to file state taxes Puede ser que otros pagos de intereses, tales como ciertos costos originarios del préstamo e intereses capitalizados, no aparezcan en el formulario que usted reciba. Do i have to file state taxes No obstante, si paga intereses calificados que no se incluyen en el Formulario 1098-E, también puede deducir esas cantidades. Do i have to file state taxes Para información sobre cómo dividir pagos de intereses y pagos de capital, vea el capítulo 4 de la Publicación 970, en inglés. Do i have to file state taxes Para reclamar la deducción, anote la cantidad permisible en la línea 33 del Formulario 1040 o la línea 18 del Formulario 1040A. Do i have to file state taxes Deducción por Matrícula y Cuotas Escolares Quizás pueda deducir los gastos de estudios calificados que haya pagado durante el año para usted, su cónyuge o dependiente(s). Do i have to file state taxes No puede reclamar esta deducción si su estado civil para efectos de la declaración es casado que presenta la declaración por separado o si otra persona puede reclamar una exención por usted como dependiente en la declaración de impuestos de él o ella. Do i have to file state taxes Los gastos calificados tienen que ser por educación superior, tal como se explica más adelante en Gastos que Califican . Do i have to file state taxes La deducción por matrícula y cuotas escolares puede reducir la cantidad de sus ingresos sujetos a impuesto por hasta $4,000. Do i have to file state taxes La Tabla 19-2 resume las características de la deducción por matrícula y cuotas escolares. Do i have to file state taxes Quizás pueda tomar un crédito por sus gastos de estudios en lugar de una deducción. Do i have to file state taxes Puede escoger la opción que le proporcione una cantidad de impuesto menor. Do i have to file state taxes Vea el capítulo 35, Créditos Tributarios por Estudios , para saber detalles sobre los créditos. Do i have to file state taxes ¿Puede Reclamar la Deducción? Las siguientes reglas le pueden ayudar a determinar si puede reclamar la deducción por matrícula y cuotas escolares. Do i have to file state taxes Quién Puede Reclamar la Deducción La deducción por matrícula y gastos de estudios normalmente se puede reclamar si usted cumple los tres siguientes requisitos: Pagó gastos de educación superior calificados en 2013 para los períodos académicos que comienzan en 2013 y los que comienzan en los primeros tres meses de 2014. Do i have to file state taxes Pagó los gastos de estudios de un estudiante que reúne los requisitos. Do i have to file state taxes El estudiante que cumple los requisitos es usted mismo, su cónyuge o dependiente por el cual reclama una exención (que se define en el capítulo 3) en su declaración de impuestos. Do i have to file state taxes Los gastos de estudios calificados se definen bajo Gastos que Califican . Do i have to file state taxes La definición de “estudiantes que reúnen los requisitos” se puede ver más adelante bajo Estudiante que Reúne los Requisitos . Do i have to file state taxes Quién No Puede Reclamar la Deducción No puede reclamar la deducción por matrícula y cuotas escolares si le corresponde cualquiera de las siguientes situaciones: Su estado civil para efectos de la declaración de impuestos es casado que presenta por separado. Do i have to file state taxes Otra persona puede reclamar una exención por usted en la declaración de impuestos de él o ella. Do i have to file state taxes Usted no puede tomar la deducción aun si la otra persona de hecho no reclama la exención. Do i have to file state taxes Su MAGI es mayor que $80,000 ($160,000 si presenta una declaración conjunta). Do i have to file state taxes Usted (o su cónyuge) era un extranjero no residente en cualquier momento durante el año 2013 y dicho extranjero no residente no optó por ser tratado como extranjero residente para propósitos tributarios. Do i have to file state taxes Puede leer más información sobre extranjeros no residentes en la Publicación 519, U. Do i have to file state taxes S. Do i have to file state taxes Tax Guide for Aliens (Guía tributaria para extranjeros), en inglés. Do i have to file state taxes Usted o cualquier otra persona puede reclamar un crédito tributario de oportunidad para los estadounidenses o un crédito vitalicio por aprendizaje en el año 2013 en lo que concierne a los gastos del estudiante por el cual se pagaron gastos de estudios calificados. Do i have to file state taxes No obstante, el recibir un crédito por parte de su estado no lo descalifica de reclamar una deducción por matrícula y cuotas. Do i have to file state taxes Tabla 19-2. Do i have to file state taxes Resumen de las Características de la Deducción por Matrícula y Cuotas Escolares No se base únicamente en lo que aparece en esta tabla. Do i have to file state taxes Consulte el texto de este capítulo para más detalles. Do i have to file state taxes Pregunta Respuesta ¿Cuál es la cantidad máxima del beneficio? Usted puede reducir la cantidad de sus ingresos sujetos a impuestos por hasta $4,000. Do i have to file state taxes ¿Dónde se toma la deducción? Se toma como ajuste a los ingresos en la línea 34 del Formulario 1040 o en la línea 19 del Formulario 1040A. Do i have to file state taxes ¿Para quién tienen que ser pagados los gastos? Un estudiante que está matriculado en una institución de enseñanza superior que reúne los requisitos quien es: usted, su cónyuge o su dependiente por el cual reclama una exención. Do i have to file state taxes ¿Qué matrícula y cuotas escolares son deducibles? La matrícula y cuotas escolares requeridas para matricularse o para asistir a una institución de enseñanza superior que reúne los requisitos, pero que no incluyen gastos personales, de manutención ni gastos de familia, tales como alojamiento y comida. Do i have to file state taxes Gastos que Califican La deducción por matrícula y cuotas escolares se basa en los gastos de estudios calificados que paga por usted mismo, su cónyuge o por un dependiente por el cual usted reclama una exención en su declaración de impuestos. Do i have to file state taxes La deducción normalmente se permite por gastos de estudios calificados que fueron pagados en el año 2013 relacionados con la matriculación en una institución de educación superior durante el año 2013 o por un período académico (que se definió anteriormente bajo Deducción por Intereses sobre Préstamos de Estudios ) comenzando en 2013 o en los primeros 3 meses de 2014. Do i have to file state taxes Pagos hechos con fondos de un préstamo. Do i have to file state taxes   Puede reclamar una deducción por matrícula y cuotas escolares en base de gastos de estudios calificados que pagó con los fondos de un préstamo. Do i have to file state taxes Utilice los gastos para calcular la deducción para el año en que se pagaron los gastos, no para el año en que se liquidó el préstamo. Do i have to file state taxes Trate los pagos del préstamo que fueron enviados directamente a la institución de educación como si hubieran sido pagados en la fecha en que dicha institución abona la cuenta del estudiante. Do i have to file state taxes Estudiante que se da de baja de su(s) clase(s). Do i have to file state taxes   Usted puede reclamar una deducción por matrícula y cuotas escolares en base de gastos de estudios calificados que no se reembolsan cuando un estudiante se da de baja (retira) de su(s) clase(s). Do i have to file state taxes Gastos de Estudios Calificados Para propósitos de la deducción por matrícula y cuotas escolares, los gastos de estudios calificados son la matrícula y ciertos gastos relacionados que son requisitos para la matriculación o asistencia en una institución de educación superior que reúne los requisitos. Do i have to file state taxes Institución de educación que reúne los requisitos. Do i have to file state taxes   Una “institución de educación superior que reúne los requisitos” es cualquier colegio universitario, universidad, escuela de enseñanza técnica u otra institución de enseñanza superior con derecho a participar en un programa de asistencia financiera al estudiante, administrado por el Departamento de Educación de los Estados Unidos. Do i have to file state taxes Incluye prácticamente a casi todas las instituciones acreditadas de enseñanza superior públicas y sin fines de lucro así como las privadas con fines de lucro. Do i have to file state taxes La institución de educación superior deberá poder indicarle si la misma reúne los requisitos. Do i have to file state taxes   Ciertas instituciones de educación ubicadas fuera de los Estados Unidos participan también en los programas de FSA del Departamento de Educación de los Estados Unidos. Do i have to file state taxes Período académico. Do i have to file state taxes   Un período académico abarca un semestre, trimestre, un cuatrimestre o cualquier otro período de estudios según lo determine de manera razonable una institución de educación que reúne los requisitos. Do i have to file state taxes Si una institución de educación que reúne los requisitos no tiene períodos académicos sino horas de crédito, cada período de pago se puede considerar como un período académico. Do i have to file state taxes Gastos relacionados. Do i have to file state taxes   Las cuotas correspondientes a las actividades escolares y los gastos incurridos por los textos, útiles y equipo escolares se incluyen en los gastos de estudios calificados únicamente si las cuotas y gastos tienen que ser pagados a la institución como requisito de la matriculación o asistencia en dicha institución. Do i have to file state taxes Gastos pagados por adelantado. Do i have to file state taxes   Gastos de estudios calificados pagados en el año 2013 para un período académico que comienza en los primeros tres meses de 2014, sólo se pueden utilizar para calcular la deducción por matrícula y cuotas escolares de 2013. Do i have to file state taxes Vea Período académico, anteriormente. Do i have to file state taxes Por ejemplo, si usted paga $2,000 en diciembre de 2013 para matrícula calificada por el cuatrimestre del invierno de 2014 que comienza en enero de 2014, puede utilizar los $2,000 en el cálculo de la deducción por matrícula y cuotas escolares sólo para 2013, únicamente si reúne todos los otros requisitos. Do i have to file state taxes No puede utilizar cantidad alguna que pagó en 2012 ó 2014 para calcular los gastos de estudios calificados que utiliza para el cálculo de su deducción por matrícula y cuotas escolares de 2013. Do i have to file state taxes No Se Permite Beneficio Doble No se le permite deducir lo siguiente: Los gastos de estudios calificados que usted deduce conforme a cualquier otra disposición de la ley, como, por ejemplo, un gasto de negocios. Do i have to file state taxes Los gastos de estudios calificados de un estudiante en su declaración de impuestos si usted o cualquier otra persona reclama un crédito tributario de oportunidad para los estadounidenses o un crédito vitalicio por aprendizaje por el mismo estudiante en el mismo año. Do i have to file state taxes Los gastos de estudios calificados que se utilizaron para calcular la parte libre de impuestos de una distribución proveniente de una cuenta Coverdell de ahorros para la educación (ESA, por sus siglas en inglés) o de un programa de matrículas calificado (QTP, por sus siglas en inglés). Do i have to file state taxes En el caso de un QTP, esto corresponde sólo a la cantidad de ganancias exentas de impuesto que fueron distribuidas, no a la recuperación de las contribuciones hechas al programa. Do i have to file state taxes Vea los temas titulados Figuring the Taxable Portion of a Distribution (Cálculo de la parte sujeta a impuesto de una distribución) del capítulo 7 (Coverdell Education Savings Account (ESA) (Cuenta Coverdell de ahorros para la educación (ESA)) y del capítulo 8 (Qualified Tuition Progam (QTP)) (Programa de matrícula calificado (QTP)), de la Publicación 970, en inglés. Do i have to file state taxes Los gastos de estudios calificados que han sido pagados con intereses exentos de impuestos provenientes de un bono de ahorros de los Estados Unidos (Formulario 8815, en inglés). Do i have to file state taxes Vea Figuring the Tax-Free Amount (Cálculo de la cantidad libre de impuestos), en el capítulo 10 de la Publicación 970, en inglés. Do i have to file state taxes Los gastos de estudios calificados que han sido pagados con ayuda económica para los estudios que estén exentos de impuestos, tales como becas de estudios, subvenciones o ayuda económica para los estudios provista por el empleador. Do i have to file state taxes Vea a continuación el tema titulado Ajustes a los gastos de estudios calificados. Do i have to file state taxes Ajustes a los gastos de estudios calificados. Do i have to file state taxes   Para cada estudiante, se tienen que reducir los gastos de estudios calificados pagados por o en nombre de dicho estudiante bajo las siguientes reglas. Do i have to file state taxes El resultado es el ajuste a los gastos de estudios calificados por cada estudiante. Do i have to file state taxes Ayuda económica para los estudios exenta de impuestos. Do i have to file state taxes   Por la ayuda económica para los estudios exenta de impuestos que recibió en 2013, tiene que reducir los gastos de estudios calificados para cada período académico por la cantidad de la ayuda económica para los estudios exenta de impuestos de dicho período. Do i have to file state taxes Vea Período académico, anteriormente. Do i have to file state taxes   Dicha asistencia incluye: La parte libre de impuestos de becas de estudios y becas de investigación (becas de desarrollo profesional), incluidas las subvenciones federales Pell (vea el capítulo 1 de la Publicación 970); La parte libre de impuestos de toda ayuda económica para estudios provista por el empleador (vea el capítulo 11 de la Publicación 970); Ayuda económica para estudios ofrecida a veteranos (vea el capítulo 1 de la Publicación 970) y Todo otro pago exento de impuestos (que no sean regalos o herencias) que se recibe en concepto de ayuda para estudios. Do i have to file state taxes   Por lo general, todas las becas de estudios o becas de investigación (becas de desarrollo profesional) son tratadas como una ayuda económica para los estudios exenta de impuestos. Do i have to file state taxes Sin embargo, una beca de estudios o beca de investigación (becas de desarrollo profesional) no será tratada como asistencia exenta de impuestos al punto de que es incluida como ingreso bruto (si tiene que presentar una declaración de impuestos) para el año que reciba la beca de estudios o para investigación (becas de desarrollo profesional) si uno de estos dos puntos aplica: La beca de estudios o beca de investigación (becas de desarrollo profesional) (o cualquier parte de dicha beca) tiene que ser aplicada (por sus condiciones) a gastos (como de alojamiento y comida) que no sean gastos de estudios calificados como se define en el capítulo 1, Qualified education expenses (Gastos de educación calificados), de la Publicación 970, en inglés. Do i have to file state taxes La beca de estudios o beca de investigación (becas de desarrollo profesional) (o cualquier parte de dicha beca) puede ser aplicada (por sus condiciones) a gastos (como de alojamiento y comida) que no sean gastos de estudios calificados como se define en el capítulo 1, Qualified education expenses (Gastos de estudios calificados), de la Publicación 970, en inglés. Do i have to file state taxes    Podría aumentar el valor combinado de la deducción por matrícula y cuotas escolares y cierta ayuda económica para los estudios si incluye alguna parte o toda la ayuda económica para los estudios en sus ingresos en el año en que recibió dicha ayuda. Do i have to file state taxes Para detalles, vea Adjustments to Qualified Education Expenses (Ajustes a los gastos de estudios calificados), en el capítulo 6 de la Publicación 970, en inglés. Do i have to file state taxes   Cierta ayuda económica para los estudios exenta de impuestos recibida después de 2013 podría ser considerada como un reembolso de gastos de estudios calificados que se pagó en 2013. Do i have to file state taxes La ayuda económica para los estudios exenta de impuestos incluye toda ayuda económica para los estudios exenta de impuestos que usted o cualquier otra persona ha recibido después de 2013 por gastos de estudios calificados pagados en nombre de un estudiante en 2013 (o atribuible a la matriculación en una institución educativa calificada durante 2013). Do i have to file state taxes   Si la ayuda económica para los estudios exenta de impuestos se recibe después de 2013 pero antes de presentar su declaración de impuestos sobre los ingresos para 2013, vea Reembolsos recibidos después de 2013 pero antes de presentar su declaración de impuestos sobre los ingresos, más adelante. Do i have to file state taxes Si la ayuda económica para los estudios exenta de impuestos se recibe después de 2013 y después de que presenta su declaración de impuestos sobre los ingresos para 2013, vea Reembolsos recibidos después de 2013 y después de presentar su declaración de impuestos sobre los ingresos, más adelante. Do i have to file state taxes Reembolsos. Do i have to file state taxes   Un reembolso de gastos de estudios calificados puede reducir los ajustes a los gastos de estudios calificados por el año tributable o puede requerir que reintegre parte o el total del reembolso en su ingreso bruto para el año en que recibe el reembolso. Do i have to file state taxes Vea el capítulo 6 de la Publicación 970 para obtener más información. Do i have to file state taxes Alguna ayuda económica para los estudios exenta de impuestos recibida después de 2013 puede ser tratada como un reembolso. Do i have to file state taxes Vea Ayuda económica para los estudios exenta de impuestos, anteriormente. Do i have to file state taxes Reembolsos recibidos en 2013. Do i have to file state taxes   Por cada estudiante, calcule los gastos de estudios calificados ajustados de 2013 sumando todos los gastos de estudios calificados pagados en 2013 y restando todos los reembolsos de esos gastos recibidos de la institución educativa que reúne los requisitos durante 2013. Do i have to file state taxes Reembolsos recibidos después de 2013 pero antes de presentar su declaración de impuestos sobre los ingresos. Do i have to file state taxes   Si alguien recibe un reembolso después de 2013 por gastos de estudios calificados pagados en nombre de un estudiante en 2013 y el reembolso es recibido antes de presentar su declaración de impuestos sobre los ingresos de 2013, reduzca la cantidad de gastos de estudios calificados de 2013 por la cantidad del reembolso. Do i have to file state taxes Reembolsos recibidos después de 2013 y después de presentar su declaración de impuestos sobre los ingresos. Do i have to file state taxes   Si recibe un reembolso después de 2013 por gastos de estudios calificados pagados en 2013 y el reembolso es recibido después de presentar su declaración de impuestos sobre los ingresos de 2013, puede ser que tenga que incluir parte o todo el reembolso en su ingreso bruto del año en que recibió el reembolso. Do i have to file state taxes Vea el capítulo 6 de la Publicación 970, en inglés, para más información. Do i have to file state taxes Coordinación con cuentas Coverdell de ahorros para la educación y programas calificados de matrícula. Do i have to file state taxes   Debe reducir sus gastos de estudios calificados por los gastos de estudios calificados utilizados para calcular la exclusión del ingreso bruto de (a) los intereses recibidos bajo un programa de bonos de ahorro educativos o (b) cualquier distribución desde una cuenta Coverdell de ahorros para la educación o programa calificado de matrícula (QTP, por sus siglas en inglés). Do i have to file state taxes Para un programa QTP, esto se aplica solamente a la cantidad exenta de impuestos que fueron distribuidos, no a la recuperación de contribuciones al programa. Do i have to file state taxes Cantidades que no reducen los gastos de estudios calificados. Do i have to file state taxes   No reduzca los gastos de estudios calificados por las cantidades pagadas con fondos que el estudiante ha recibido por concepto de: Pagos por prestar servicios, como salarios, Un préstamo, Un regalo, Una herencia o Un retiro de fondos de una cuenta de ahorros personal del estudiante. Do i have to file state taxes   No reduzca los gastos de estudios calificados por cantidades de becas de estudios o becas de investigación (becas de desarrollo profesional) que se declaran como ingresos en la declaración de impuestos del estudiante en las siguientes circunstancias: El uso de dinero se restringe, por los términos de la beca de estudios o beca de investigación (becas de desarrollo profesional), a los costos de asistencia (como alojamiento y comida) que no sean gastos de estudios calificados. Do i have to file state taxes El uso de dinero no se restringe. Do i have to file state taxes Gastos que no Califican Los gastos de estudios calificados no incluyen cantidades pagadas en concepto de: Seguros; Gastos médicos (incluidas las cuotas del seguro médico escolar ofrecido por la institución); Alojamiento y comida; Transporte o Gastos personales, de manutención o relacionados a la familia que sean semejantes. Do i have to file state taxes Esto corresponde aun si se tienen que pagar dichas cantidades a la institución como requisito de matriculación o asistencia. Do i have to file state taxes Deportes, juegos, pasatiempos y cursos que no ofrecen créditos académicos. Do i have to file state taxes   Normalmente, los gastos de estudios calificados no incluyen gastos que corresponden a un curso de enseñanza u otro curso educativo en que se desempeñen deportes, juegos, pasatiempos o un curso que no ofrece créditos académicos. Do i have to file state taxes No obstante, si el curso de enseñanza u otro curso educativo es parte del programa de estudios del estudiante para obtener una licenciatura u otro título educativo reconocido, los gastos entonces sí pueden calificar. Do i have to file state taxes Cuotas íntegras o en conjunto. Do i have to file state taxes   Algunas instituciones de educación superior que reúnen los requisitos combinan o consolidan todas sus cuotas para un período académico en una sola cantidad. Do i have to file state taxes Si no recibe, o no tiene acceso a un estado de cuentas o asignación que muestra cuánto pagó usted en concepto de gastos de estudios calificados y cuánto pagó en concepto de gastos personales, como los que se mencionaron anteriormente, comuníquese con la institución. Do i have to file state taxes La institución tiene la obligación de redactar ese estado de cuentas o asignación y de proveerle a usted información sobre la cantidad que usted pagó (o que se le facturó) por los gastos de estudios calificados en el Formulario 1098-T, Tuition Statement (Información sobre el pago de matrícula), en inglés. Do i have to file state taxes Vea el tema Cómo se Calcula la Deducción , más adelante, para mayor información sobre el Formulario 1098-T. Do i have to file state taxes Estudiante que Reúne los Requisitos Para propósitos de la deducción por matrícula y cuotas escolares, un “estudiante que reúne los requisitos” es aquél que está matriculado en uno o más cursos en una institución de educación superior que reúne los requisitos (que se definió anteriormente). Do i have to file state taxes Quién Puede Reclamar los Gastos de un Dependiente Para poder reclamar la deducción por matrícula y cuotas escolares de un dependiente, usted tiene, normalmente, que: Haber pagado los gastos y Reclamar una exención de dependiente por el estudiante. Do i have to file state taxes La Tabla 19-3 resume quién puede reclamar la deducción. Do i have to file state taxes Cuánto se Puede Deducir La cantidad máxima por concepto de matrícula y cuotas escolares para 2013 es $4,000, $2,000 o $0, dependiendo de la cantidad de su MAGI. Do i have to file state taxes Para detalles sobre el cálculo de su MAGI, vea el capítulo 6 de la Publicación 970. Do i have to file state taxes Cómo se Calcula la Deducción Calcule la deducción utilizando el Formulario 8917, Tuition and Fees Deduction (Deducción por matrícula y cuotas), en inglés. Do i have to file state taxes Para ayudarle a calcular su deducción por matrícula y cuotas escolares, debe recibir el Formulario 1098-T, Tuition Statement (Información sobre el pago de matrícula), en inglés. Do i have to file state taxes Por lo general, una institución de educación superior que reúne los requisitos (como un colegio universitario o universidad) tiene que enviarle el Formulario 1098-T (o una declaración sustitutiva similar y aceptable) a cada estudiante matriculado para el 31 de enero de 2014. Do i have to file state taxes Para reclamar la deducción, anote la cantidad permitida en la línea 34 del Formulario 1040 o en la línea 19 del Formulario 1040A, y adjunte el Formulario 8917 que ha completado debidamente. Do i have to file state taxes Tabla 19-3. Do i have to file state taxes Quién Puede Reclamar los Gastos de un Dependiente No se base únicamente en lo que aparece en esta tabla. Do i have to file state taxes Consulte Who can claim a Dependent's Expenses (Quién puede reclamar los gastos de un dependiente), en el capítulo 6 de la Publicación 970, en inglés. Do i have to file state taxes SI su dependiente es un estudiante que reúne los requisitos y usted . Do i have to file state taxes . Do i have to file state taxes . Do i have to file state taxes Y. Do i have to file state taxes . Do i have to file state taxes . Do i have to file state taxes ENTONCES. Do i have to file state taxes . Do i have to file state taxes . Do i have to file state taxes reclama una exención por su dependiente usted paga todos los gastos de estudios calificados de su dependiente sólo usted puede deducir los gastos de estudios calificados que usted pagó. Do i have to file state taxes Su dependiente no puede tomar la deducción. Do i have to file state taxes reclama una exención por su dependiente su dependiente pagó todos los gastos de estudios calificados a nadie se le permite tomar la deducción. Do i have to file state taxes no reclama una exención por su dependiente usted pagó todos los gastos de estudios calificados a nadie se le permite tomar la deducción. Do i have to file state taxes no reclama una exención por su dependiente su dependiente pagó todos los gastos de estudios calificados a nadie se le permite tomar la deducción. Do i have to file state taxes Gastos del Educador Si usted fue un educador que reúne los requisitos en el año 2013, puede deducir en la línea 23 del Formulario 1040 o en la línea 16 del Formulario 1040A, hasta $250 por concepto de gastos calificados que usted pagó en 2013. Do i have to file state taxes Si usted y su cónyuge están presentando una declaración de impuestos conjunta y si ambos de ustedes son educadores que reúnen los requisitos, la cantidad máxima que pueden deducir es $500. Do i have to file state taxes No obstante eso, ningún cónyuge puede deducir más de $250 en gastos calificados que él o ella ha pagado en la línea 23 del Formulario 1040 o en la línea 16 del Formulario 1040A. Do i have to file state taxes Usted quizás pueda deducir gastos que son mayores del límite de $250 (o $500) en la línea 21 del Anexo A (Formulario 1040). Do i have to file state taxes Educador que reúne los requisitos. Do i have to file state taxes   Un “educador que reúne los requisitos” es un maestro de primaria, instructor, consejero, director o ayudante, de kínder (jardín de infancia) hasta doceavo grado, que ha trabajado por lo menos 900 horas durante el año escolar. Do i have to file state taxes Gastos calificados. Do i have to file state taxes   En los gastos calificados se incluyen los gastos ordinarios (normales) y necesarios que se han pagado por libros, útiles, equipo (incluyendo equipo, programas y servicios para la computadora) y otros suministros y materiales que se utilizan en el aula. Do i have to file state taxes Un “gasto ordinario” es aquél que es común y aceptado en el campo educativo. Do i have to file state taxes Un “gasto necesario” es uno que es útil y apropiado en el desempeño de su profesión de educador. Do i have to file state taxes Un gasto no tiene que ser obligatorio para considerarse necesario. Do i have to file state taxes   Los gastos calificados no incluyen los gastos por enseñanza impartida en el hogar ni por artículos para cursos de salud o de educación física que no se usan en el desempeño del deporte. Do i have to file state taxes   Usted tiene que restar de sus gastos calificados las siguientes cantidades: Intereses de bonos de ahorros de los Estados Unidos de la serie EE y de la serie I que pueden excluirse de los ingresos y que provienen del Formulario 8815, Exclusion of Interest From Series EE and I U. Do i have to file state taxes S. Do i have to file state taxes Savings Bonds Issued After 1989 (Exclusión de los intereses provenientes de bonos de ahorros estadounidenses de las series EE e I emitidos después de 1989), en inglés. Do i have to file state taxes Vea el tema titulado Figuring the Tax-Free Amount (Cálculo de la cantidad exenta de impuestos), en el capítulo 10 de la Publicación 970, en inglés. Do i have to file state taxes Distribuciones o ganancias provenientes de un programa de matrícula calificado que no están sujetas a impuestos. Do i have to file state taxes Vea el tema titulado Figuring the Taxable Portion of a Distribution (Cálculo de la parte de una distribución sujeta a impuestos), en el capítulo 8 de la Publicación 970. Do i have to file state taxes Una distribución de ganancias no sujeta a impuestos proveniente de una cuenta Coverdell de ahorros para la educación. Do i have to file state taxes Vea el tema titulado Figuring the Taxable Portion of a Distribution (Cálculo de la parte de una distribución sujeta a impuestos), en el capítulo 7 de la Publicación 970. Do i have to file state taxes Todo reembolso de dichos gastos que haya recibido y del cual no se le haya informado en el recuadro 1 del Formulario W-2. Do i have to file state taxes Prev  Up  Next   Home   More Online Publications
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The Do I Have To File State Taxes

Do i have to file state taxes 2. Do i have to file state taxes   Ordinary or Capital Gain or Loss Table of Contents IntroductionSection 1231 transactions. Do i have to file state taxes Topics - This chapter discusses: Useful Items - You may want to see: Capital Assets Noncapital AssetsCommodities derivative dealer. Do i have to file state taxes Sales and Exchanges Between Related PersonsGain Is Ordinary Income Nondeductible Loss Other DispositionsSale of a Business Dispositions of Intangible Property Subdivision of Land Timber Precious Metals and Stones, Stamps, and Coins Coal and Iron Ore Conversion Transactions Introduction You must classify your gains and losses as either ordinary or capital (and your capital gains or losses as either short-term or long-term). Do i have to file state taxes You must do this to figure your net capital gain or loss. Do i have to file state taxes For individuals, a net capital gain may be taxed at a different tax rate than ordinary income. Do i have to file state taxes See Capital Gains Tax Rates in chapter 4. Do i have to file state taxes Your deduction for a net capital loss may be limited. Do i have to file state taxes See Treatment of Capital Losses in chapter 4. Do i have to file state taxes Capital gain or loss. Do i have to file state taxes   Generally, you will have a capital gain or loss if you sell or exchange a capital asset. Do i have to file state taxes You also may have a capital gain if your section 1231 transactions result in a net gain. Do i have to file state taxes Section 1231 transactions. Do i have to file state taxes   Section 1231 transactions are sales and exchanges of property held longer than 1 year and either used in a trade or business or held for the production of rents or royalties. Do i have to file state taxes They also include certain involuntary conversions of business or investment property, including capital assets. Do i have to file state taxes See Section 1231 Gains and Losses in chapter 3 for more information. Do i have to file state taxes Topics - This chapter discusses: Capital assets Noncapital assets Sales and exchanges between  related persons Other dispositions Useful Items - You may want to see: Publication 550 Investment Income and Expenses Form (and Instructions) Schedule D (Form 1040) Capital Gains and Losses 4797 Sales of Business Property 8594 Asset Acquisition Statement Under Section 1060 8949 Sales and Other Dispositions of Capital Assets See chapter 5 for information about getting publications and forms. Do i have to file state taxes Capital Assets Almost everything you own and use for personal purposes, pleasure, or investment is a capital asset. Do i have to file state taxes For exceptions, see Noncapital Assets, later. Do i have to file state taxes The following items are examples of capital assets. Do i have to file state taxes Stocks and bonds. Do i have to file state taxes A home owned and occupied by you and your family. Do i have to file state taxes Timber grown on your home property or investment property, even if you make casual sales of the timber. Do i have to file state taxes Household furnishings. Do i have to file state taxes A car used for pleasure or commuting. Do i have to file state taxes Coin or stamp collections. Do i have to file state taxes Gems and jewelry. Do i have to file state taxes Gold, silver, and other metals. Do i have to file state taxes Personal-use property. Do i have to file state taxes   Generally, property held for personal use is a capital asset. Do i have to file state taxes Gain from a sale or exchange of that property is a capital gain. Do i have to file state taxes Loss from the sale or exchange of that property is not deductible. Do i have to file state taxes You can deduct a loss relating to personal-use property only if it results from a casualty or theft. Do i have to file state taxes Investment property. Do i have to file state taxes   Investment property (such as stocks and bonds) is a capital asset, and a gain or loss from its sale or exchange is a capital gain or loss. Do i have to file state taxes This treatment does not apply to property used to produce rental income. Do i have to file state taxes See Business assets, later, under Noncapital Assets. Do i have to file state taxes Release of restriction on land. Do i have to file state taxes   Amounts you receive for the release of a restrictive covenant in a deed to land are treated as proceeds from the sale of a capital asset. Do i have to file state taxes Noncapital Assets A noncapital asset is property that is not a capital asset. Do i have to file state taxes The following kinds of property are not capital assets. Do i have to file state taxes Stock in trade, inventory, and other property you hold mainly for sale to customers in your trade or business. Do i have to file state taxes Inventories are discussed in Publication 538, Accounting Periods and Methods. Do i have to file state taxes But, see the Tip below. Do i have to file state taxes Accounts or notes receivable acquired in the ordinary course of a trade or business for services rendered or from the sale of any properties described in (1), above. Do i have to file state taxes Depreciable property used in your trade or business or as rental property (including section 197 intangibles defined later), even if the property is fully depreciated (or amortized). Do i have to file state taxes Sales of this type of property are discussed in chapter 3. Do i have to file state taxes Real property used in your trade or business or as rental property, even if the property is fully depreciated. Do i have to file state taxes A copyright; a literary, musical, or artistic composition; a letter; a memorandum; or similar property (such as drafts of speeches, recordings, transcripts, manuscripts, drawings, or photographs): Created by your personal efforts, Prepared or produced for you (in the case of a letter, memorandum, or similar property), or Received from a person who created the property or for whom the property was prepared under circumstances (for example, by gift) entitling you to the basis of the person who created the property, or for whom it was prepared or produced. Do i have to file state taxes But, see the Tip below. Do i have to file state taxes U. Do i have to file state taxes S. Do i have to file state taxes Government publications you got from the government for free or for less than the normal sales price or that you acquired under circumstances entitling you to the basis of someone who got the publications for free or for less than the normal sales price. Do i have to file state taxes Any commodities derivative financial instrument (discussed later) held by a commodities derivatives dealer unless it meets both of the following requirements. Do i have to file state taxes It is established to the satisfaction of the IRS that the instrument has no connection to the activities of the dealer as a dealer. Do i have to file state taxes The instrument is clearly identified in the dealer's records as meeting (a) by the end of the day on which it was acquired, originated, or entered into. Do i have to file state taxes Any hedging transaction (defined later) that is clearly identified as a hedging transaction by the end of the day on which it was acquired, originated, or entered into. Do i have to file state taxes Supplies of a type you regularly use or consume in the ordinary course of your trade or business. Do i have to file state taxes You can elect to treat as capital assets certain self-created musical compositions or copyrights you sold or exchanged. Do i have to file state taxes See chapter 4 of Publication 550 for details. Do i have to file state taxes Property held mainly for sale to customers. Do i have to file state taxes   Stock in trade, inventory, and other property you hold mainly for sale to customers in your trade or business are not capital assets. Do i have to file state taxes Inventories are discussed in Publication 538. Do i have to file state taxes Business assets. Do i have to file state taxes   Real property and depreciable property used in your trade or business or as rental property (including section 197 intangibles defined later under Dispositions of Intangible Property) are not capital assets. Do i have to file state taxes The sale or disposition of business property is discussed in chapter 3. Do i have to file state taxes Letters and memoranda. Do i have to file state taxes   Letters, memoranda, and similar property (such as drafts of speeches, recordings, transcripts, manuscripts, drawings, or photographs) are not treated as capital assets (as discussed earlier) if your personal efforts created them or if they were prepared or produced for you. Do i have to file state taxes Nor is this property a capital asset if your basis in it is determined by reference to the person who created it or the person for whom it was prepared. Do i have to file state taxes For this purpose, letters and memoranda addressed to you are considered prepared for you. Do i have to file state taxes If letters or memoranda are prepared by persons under your administrative control, they are considered prepared for you whether or not you review them. Do i have to file state taxes Commodities derivative financial instrument. Do i have to file state taxes   A commodities derivative financial instrument is a commodities contract or other financial instrument for commodities (other than a share of corporate stock, a beneficial interest in a partnership or trust, a note, bond, debenture, or other evidence of indebtedness, or a section 1256 contract) the value or settlement price of which is calculated or determined by reference to a specified index (as defined in section 1221(b) of the Internal Revenue Code). Do i have to file state taxes Commodities derivative dealer. Do i have to file state taxes   A commodities derivative dealer is a person who regularly offers to enter into, assume, offset, assign, or terminate positions in commodities derivative financial instruments with customers in the ordinary course of a trade or business. Do i have to file state taxes Hedging transaction. Do i have to file state taxes   A hedging transaction is any transaction you enter into in the normal course of your trade or business primarily to manage any of the following. Do i have to file state taxes Risk of price changes or currency fluctuations involving ordinary property you hold or will hold. Do i have to file state taxes Risk of interest rate or price changes or currency fluctuations for borrowings you make or will make, or ordinary obligations you incur or will incur. Do i have to file state taxes Sales and Exchanges Between Related Persons This section discusses the rules that may apply to the sale or exchange of property between related persons. Do i have to file state taxes If these rules apply, gains may be treated as ordinary income and losses may not be deductible. Do i have to file state taxes See Transfers to Spouse in chapter 1 for rules that apply to spouses. Do i have to file state taxes Gain Is Ordinary Income If a gain is recognized on the sale or exchange of property to a related person, the gain may be ordinary income even if the property is a capital asset. Do i have to file state taxes It is ordinary income if the sale or exchange is a depreciable property transaction or a controlled partnership transaction. Do i have to file state taxes Depreciable property transaction. Do i have to file state taxes   Gain on the sale or exchange of property, including a leasehold or a patent application, that is depreciable property in the hands of the person who receives it is ordinary income if the transaction is either directly or indirectly between any of the following pairs of entities. Do i have to file state taxes A person and the person's controlled entity or entities. Do i have to file state taxes A taxpayer and any trust in which the taxpayer (or his or her spouse) is a beneficiary unless the beneficiary's interest in the trust is a remote contingent interest; that is, the value of the interest computed actuarially is 5% or less of the value of the trust property. Do i have to file state taxes An executor and a beneficiary of an estate unless the sale or exchange is in satisfaction of a pecuniary bequest (a bequest for a sum of money). Do i have to file state taxes An employer (or any person related to the employer under rules (1), (2), or (3)) and a welfare benefit fund (within the meaning of section 419(e) of the Internal Revenue Code) that is controlled directly or indirectly by the employer (or any person related to the employer). Do i have to file state taxes Controlled entity. Do i have to file state taxes   A person's controlled entity is either of the following. Do i have to file state taxes A corporation in which more than 50% of the value of all outstanding stock, or a partnership in which more than 50% of the capital interest or profits interest, is directly or indirectly owned by or for that person. Do i have to file state taxes An entity whose relationship with that person is one of the following. Do i have to file state taxes A corporation and a partnership if the same persons own more than 50% in value of the outstanding stock of the corporation and more than 50% of the capital interest or profits interest in the partnership. Do i have to file state taxes Two corporations that are members of the same controlled group as defined in section 1563(a) of the Internal Revenue Code, except that “more than 50%” is substituted for “at least 80%” in that definition. Do i have to file state taxes Two S corporations, if the same persons own more than 50% in value of the outstanding stock of each corporation. Do i have to file state taxes Two corporations, one of which is an S corporation, if the same persons own more than 50% in value of the outstanding stock of each corporation. Do i have to file state taxes Controlled partnership transaction. Do i have to file state taxes   A gain recognized in a controlled partnership transaction may be ordinary income. Do i have to file state taxes The gain is ordinary income if it results from the sale or exchange of property that, in the hands of the party who receives it, is a noncapital asset such as trade accounts receivable, inventory, stock in trade, or depreciable or real property used in a trade or business. Do i have to file state taxes   A controlled partnership transaction is a transaction directly or indirectly between either of the following pairs of entities. Do i have to file state taxes A partnership and a person who directly or indirectly owns more than 50% of the capital interest or profits interest in the partnership. Do i have to file state taxes Two partnerships, if the same persons directly or indirectly own more than 50% of the capital interests or profits interests in both partnerships. Do i have to file state taxes Determining ownership. Do i have to file state taxes   In the transactions under Depreciable property transaction and Controlled partnership transaction, earlier, use the following rules to determine the ownership of stock or a partnership interest. Do i have to file state taxes Stock or a partnership interest directly or indirectly owned by or for a corporation, partnership, estate, or trust is considered owned proportionately by or for its shareholders, partners, or beneficiaries. Do i have to file state taxes (However, for a partnership interest owned by or for a C corporation, this applies only to shareholders who directly or indirectly own 5% or more in value of the stock of the corporation. Do i have to file state taxes ) An individual is considered as owning the stock or partnership interest directly or indirectly owned by or for his or her family. Do i have to file state taxes Family includes only brothers, sisters, half-brothers, half-sisters, spouse, ancestors, and lineal descendants. Do i have to file state taxes For purposes of applying (1) or (2), above, stock or a partnership interest constructively owned by a person under (1) is treated as actually owned by that person. Do i have to file state taxes But stock or a partnership interest constructively owned by an individual under (2) is not treated as owned by the individual for reapplying (2) to make another person the constructive owner of that stock or partnership interest. Do i have to file state taxes Nondeductible Loss A loss on the sale or exchange of property between related persons is not deductible. Do i have to file state taxes This applies to both direct and indirect transactions, but not to distributions of property from a corporation in a complete liquidation. Do i have to file state taxes For the list of related persons, see Related persons next. Do i have to file state taxes If a sale or exchange is between any of these related persons and involves the lump-sum sale of a number of blocks of stock or pieces of property, the gain or loss must be figured separately for each block of stock or piece of property. Do i have to file state taxes The gain on each item is taxable. Do i have to file state taxes The loss on any item is nondeductible. Do i have to file state taxes Gains from the sales of any of these items may not be offset by losses on the sales of any of the other items. Do i have to file state taxes Related persons. Do i have to file state taxes   The following is a list of related persons. Do i have to file state taxes Members of a family, including only brothers, sisters, half-brothers, half-sisters, spouse, ancestors (parents, grandparents, etc. Do i have to file state taxes ), and lineal descendants (children, grandchildren, etc. Do i have to file state taxes ). Do i have to file state taxes An individual and a corporation if the individual directly or indirectly owns more than 50% in value of the outstanding stock of the corporation. Do i have to file state taxes Two corporations that are members of the same controlled group as defined in section 267(f) of the Internal Revenue Code. Do i have to file state taxes A trust fiduciary and a corporation if the trust or the grantor of the trust directly or indirectly owns more than 50% in value of the outstanding stock of the corporation. Do i have to file state taxes A grantor and fiduciary, and the fiduciary and beneficiary, of any trust. Do i have to file state taxes Fiduciaries of two different trusts, and the fiduciary and beneficiary of two different trusts, if the same person is the grantor of both trusts. Do i have to file state taxes A tax-exempt educational or charitable organization and a person who directly or indirectly controls the organization, or a member of that person's family. Do i have to file state taxes A corporation and a partnership if the same persons own more than 50% in value of the outstanding stock of the corporation and more than 50% of the capital interest or profits interest in the partnership. Do i have to file state taxes Two S corporations if the same persons own more than 50% in value of the outstanding stock of each corporation. Do i have to file state taxes Two corporations, one of which is an S corporation, if the same persons own more than 50% in value of the outstanding stock of each corporation. Do i have to file state taxes An executor and a beneficiary of an estate unless the sale or exchange is in satisfaction of a pecuniary bequest. Do i have to file state taxes Two partnerships if the same persons directly or indirectly own more than 50% of the capital interests or profits interests in both partnerships. Do i have to file state taxes A person and a partnership if the person directly or indirectly owns more than 50% of the capital interest or profits interest in the partnership. Do i have to file state taxes Partnership interests. Do i have to file state taxes   The nondeductible loss rule does not apply to a sale or exchange of an interest in the partnership between the related persons described in (12) or (13) above. Do i have to file state taxes Controlled groups. Do i have to file state taxes   Losses on transactions between members of the same controlled group described in (3) earlier are deferred rather than denied. Do i have to file state taxes   For more information, see section 267(f) of the Internal Revenue Code. Do i have to file state taxes Ownership of stock or partnership interests. Do i have to file state taxes   In determining whether an individual directly or indirectly owns any of the outstanding stock of a corporation or an interest in a partnership for a loss on a sale or exchange, the following rules apply. Do i have to file state taxes Stock or a partnership interest directly or indirectly owned by or for a corporation, partnership, estate, or trust is considered owned proportionately by or for its shareholders, partners, or beneficiaries. Do i have to file state taxes (However, for a partnership interest owned by or for a C corporation, this applies only to shareholders who directly or indirectly own 5% or more in value of the stock of the corporation. Do i have to file state taxes ) An individual is considered as owning the stock or partnership interest directly or indirectly owned by or for his or her family. Do i have to file state taxes Family includes only brothers, sisters, half-brothers, half-sisters, spouse, ancestors, and lineal descendants. Do i have to file state taxes An individual owning (other than by applying (2)) any stock in a corporation is considered to own the stock directly or indirectly owned by or for his or her partner. Do i have to file state taxes For purposes of applying (1), (2), or (3), stock or a partnership interest constructively owned by a person under (1) is treated as actually owned by that person. Do i have to file state taxes But stock or a partnership interest constructively owned by an individual under (2) or (3) is not treated as owned by the individual for reapplying either (2) or (3) to make another person the constructive owner of that stock or partnership interest. Do i have to file state taxes Indirect transactions. Do i have to file state taxes   You cannot deduct your loss on the sale of stock through your broker if under a prearranged plan a related person or entity buys the same stock you had owned. Do i have to file state taxes This does not apply to a cross-trade between related parties through an exchange that is purely coincidental and is not prearranged. Do i have to file state taxes Property received from a related person. Do i have to file state taxes   If, in a purchase or exchange, you received property from a related person who had a loss that was not allowable and you later sell or exchange the property at a gain, you recognize the gain only to the extent it is more than the loss previously disallowed to the related person. Do i have to file state taxes This rule applies only to the original transferee. Do i have to file state taxes Example 1. Do i have to file state taxes Your brother sold stock to you for $7,600. Do i have to file state taxes His cost basis was $10,000. Do i have to file state taxes His loss of $2,400 was not deductible. Do i have to file state taxes You later sell the same stock to an unrelated party for $10,500, realizing a gain of $2,900 ($10,500 − $7,600). Do i have to file state taxes Your recognized gain is only $500, the gain that is more than the $2,400 loss not allowed to your brother. Do i have to file state taxes Example 2. Do i have to file state taxes Assume the same facts as in Example 1, except that you sell the stock for $6,900 instead of $10,500. Do i have to file state taxes Your recognized loss is only $700 ($7,600 − $6,900). Do i have to file state taxes You cannot deduct the loss not allowed to your brother. Do i have to file state taxes Other Dispositions This section discusses rules for determining the treatment of gain or loss from various dispositions of property. Do i have to file state taxes Sale of a Business The sale of a business usually is not a sale of one asset. Do i have to file state taxes Instead, all the assets of the business are sold. Do i have to file state taxes Generally, when this occurs, each asset is treated as being sold separately for determining the treatment of gain or loss. Do i have to file state taxes A business usually has many assets. Do i have to file state taxes When sold, these assets must be classified as capital assets, depreciable property used in the business, real property used in the business, or property held for sale to customers, such as inventory or stock in trade. Do i have to file state taxes The gain or loss on each asset is figured separately. Do i have to file state taxes The sale of capital assets results in capital gain or loss. Do i have to file state taxes The sale of real property or depreciable property used in the business and held longer than 1 year results in gain or loss from a section 1231 transaction (discussed in chapter 3). Do i have to file state taxes The sale of inventory results in ordinary income or loss. Do i have to file state taxes Partnership interests. Do i have to file state taxes   An interest in a partnership or joint venture is treated as a capital asset when sold. Do i have to file state taxes The part of any gain or loss from unrealized receivables or inventory items will be treated as ordinary gain or loss. Do i have to file state taxes For more information, see Disposition of Partner's Interest in Publication 541. Do i have to file state taxes Corporation interests. Do i have to file state taxes   Your interest in a corporation is represented by stock certificates. Do i have to file state taxes When you sell these certificates, you usually realize capital gain or loss. Do i have to file state taxes For information on the sale of stock, see chapter 4 in Publication 550. Do i have to file state taxes Corporate liquidations. Do i have to file state taxes   Corporate liquidations of property generally are treated as a sale or exchange. Do i have to file state taxes Gain or loss generally is recognized by the corporation on a liquidating sale of its assets. Do i have to file state taxes Gain or loss generally is recognized also on a liquidating distribution of assets as if the corporation sold the assets to the distributee at fair market value. Do i have to file state taxes   In certain cases in which the distributee is a corporation in control of the distributing corporation, the distribution may not be taxable. Do i have to file state taxes For more information, see section 332 of the Internal Revenue Code and the related regulations. Do i have to file state taxes Allocation of consideration paid for a business. Do i have to file state taxes   The sale of a trade or business for a lump sum is considered a sale of each individual asset rather than of a single asset. Do i have to file state taxes Except for assets exchanged under any nontaxable exchange rules, both the buyer and seller of a business must use the residual method (explained later) to allocate the consideration to each business asset transferred. Do i have to file state taxes This method determines gain or loss from the transfer of each asset and how much of the consideration is for goodwill and certain other intangible property. Do i have to file state taxes It also determines the buyer's basis in the business assets. Do i have to file state taxes Consideration. Do i have to file state taxes   The buyer's consideration is the cost of the assets acquired. Do i have to file state taxes The seller's consideration is the amount realized (money plus the fair market value of property received) from the sale of assets. Do i have to file state taxes Residual method. Do i have to file state taxes   The residual method must be used for any transfer of a group of assets that constitutes a trade or business and for which the buyer's basis is determined only by the amount paid for the assets. Do i have to file state taxes This applies to both direct and indirect transfers, such as the sale of a business or the sale of a partnership interest in which the basis of the buyer's share of the partnership assets is adjusted for the amount paid under section 743(b) of the Internal Revenue Code. Do i have to file state taxes Section 743(b) applies if a partnership has an election in effect under section 754 of the Internal Revenue Code. Do i have to file state taxes   A group of assets constitutes a trade or business if either of the following applies. Do i have to file state taxes Goodwill or going concern value could, under any circumstances, attach to them. Do i have to file state taxes The use of the assets would constitute an active trade or business under section 355 of the Internal Revenue Code. Do i have to file state taxes   The residual method provides for the consideration to be reduced first by the amount of Class I assets (defined below). Do i have to file state taxes The consideration remaining after this reduction must be allocated among the various business assets in a certain order. Do i have to file state taxes See Classes of assets next for the complete order. Do i have to file state taxes Classes of assets. Do i have to file state taxes   The following definitions are the classifications for deemed or actual asset acquisitions. Do i have to file state taxes Allocate the consideration among the assets in the following order. Do i have to file state taxes The amount allocated to an asset, other than a Class VII asset, cannot exceed its fair market value on the purchase date. Do i have to file state taxes The amount you can allocate to an asset also is subject to any applicable limits under the Internal Revenue Code or general principles of tax law. Do i have to file state taxes Class I assets are cash and general deposit accounts (including checking and savings accounts but excluding certificates of deposit). Do i have to file state taxes Class II assets are certificates of deposit, U. Do i have to file state taxes S. Do i have to file state taxes Government securities, foreign currency, and actively traded personal property, including stock and securities. Do i have to file state taxes Class III assets are accounts receivable, other debt instruments, and assets that you mark to market at least annually for federal income tax purposes. Do i have to file state taxes However, see section 1. Do i have to file state taxes 338-6(b)(2)(iii) of the regulations for exceptions that apply to debt instruments issued by persons related to a target corporation, contingent debt instruments, and debt instruments convertible into stock or other property. Do i have to file state taxes Class IV assets are property of a kind that would properly be included in inventory if on hand at the end of the tax year or property held by the taxpayer primarily for sale to customers in the ordinary course of business. Do i have to file state taxes Class V assets are all assets other than Class I, II, III, IV, VI, and VII assets. Do i have to file state taxes    Note. Do i have to file state taxes Furniture and fixtures, buildings, land, vehicles, and equipment, which constitute all or part of a trade or business are generally Class V assets. Do i have to file state taxes Class VI assets are section 197 intangibles (other than goodwill and going concern value). Do i have to file state taxes Class VII assets are goodwill and going concern value (whether the goodwill or going concern value qualifies as a section 197 intangible). Do i have to file state taxes   If an asset described in one of the classifications described above can be included in more than one class, include it in the lower numbered class. Do i have to file state taxes For example, if an asset is described in both Class II and Class IV, choose Class II. Do i have to file state taxes Example. Do i have to file state taxes The total paid in the sale of the assets of Company SKB is $21,000. Do i have to file state taxes No cash or deposit accounts or similar accounts were sold. Do i have to file state taxes The company's U. Do i have to file state taxes S. Do i have to file state taxes Government securities sold had a fair market value of $3,200. Do i have to file state taxes The only other asset transferred (other than goodwill and going concern value) was inventory with a fair market value of $15,000. Do i have to file state taxes Of the $21,000 paid for the assets of Company SKB, $3,200 is allocated to U. Do i have to file state taxes S. Do i have to file state taxes Government securities, $15,000 to inventory assets, and the remaining $2,800 to goodwill and going concern value. Do i have to file state taxes Agreement. Do i have to file state taxes   The buyer and seller may enter into a written agreement as to the allocation of any consideration or the fair market value of any of the assets. Do i have to file state taxes This agreement is binding on both parties unless the IRS determines the amounts are not appropriate. Do i have to file state taxes Reporting requirement. Do i have to file state taxes   Both the buyer and seller involved in the sale of business assets must report to the IRS the allocation of the sales price among section 197 intangibles and the other business assets. Do i have to file state taxes Use Form 8594, Asset Acquisition Statement Under Section 1060, to provide this information. Do i have to file state taxes Generally, the buyer and seller should each attach Form 8594 to their federal income tax return for the year in which the sale occurred. Do i have to file state taxes See the Instructions for Form 8594. Do i have to file state taxes Dispositions of Intangible Property Intangible property is any personal property that has value but cannot be seen or touched. Do i have to file state taxes It includes such items as patents, copyrights, and the goodwill value of a business. Do i have to file state taxes Gain or loss on the sale or exchange of amortizable or depreciable intangible property held longer than 1 year (other than an amount recaptured as ordinary income) is a section 1231 gain or loss. Do i have to file state taxes The treatment of section 1231 gain or loss and the recapture of amortization and depreciation as ordinary income are explained in chapter 3. Do i have to file state taxes See chapter 8 of Publication 535, Business Expenses, for information on amortizable intangible property and chapter 1 of Publication 946, How To Depreciate Property, for information on intangible property that can and cannot be depreciated. Do i have to file state taxes Gain or loss on dispositions of other intangible property is ordinary or capital depending on whether the property is a capital asset or a noncapital asset. Do i have to file state taxes The following discussions explain special rules that apply to certain dispositions of intangible property. Do i have to file state taxes Section 197 Intangibles Section 197 intangibles are certain intangible assets acquired after August 10, 1993 (after July 25, 1991, if chosen), and held in connection with the conduct of a trade or business or an activity entered into for profit whose costs are amortized over 15 years. Do i have to file state taxes They include the following assets. Do i have to file state taxes Goodwill. Do i have to file state taxes Going concern value. Do i have to file state taxes Workforce in place. Do i have to file state taxes Business books and records, operating systems, and other information bases. Do i have to file state taxes Patents, copyrights, formulas, processes, designs, patterns, know how, formats, and similar items. Do i have to file state taxes Customer-based intangibles. Do i have to file state taxes Supplier-based intangibles. Do i have to file state taxes Licenses, permits, and other rights granted by a governmental unit. Do i have to file state taxes Covenants not to compete entered into in connection with the acquisition of a business. Do i have to file state taxes Franchises, trademarks, and trade names. Do i have to file state taxes See chapter 8 of Publication 535 for a description of each intangible. Do i have to file state taxes Dispositions. Do i have to file state taxes   You cannot deduct a loss from the disposition or worthlessness of a section 197 intangible you acquired in the same transaction (or series of related transactions) as another section 197 intangible you still hold. Do i have to file state taxes Instead, you must increase the adjusted basis of your retained section 197 intangible by the nondeductible loss. Do i have to file state taxes If you retain more than one section 197 intangible, increase each intangible's adjusted basis. Do i have to file state taxes Figure the increase by multiplying the nondeductible loss by a fraction, the numerator (top number) of which is the retained intangible's adjusted basis on the date of the loss and the denominator (bottom number) of which is the total adjusted basis of all retained intangibles on the date of the loss. Do i have to file state taxes   In applying this rule, members of the same controlled group of corporations and commonly controlled businesses are treated as a single entity. Do i have to file state taxes For example, a corporation cannot deduct a loss on the sale of a section 197 intangible if, after the sale, a member of the same controlled group retains other section 197 intangibles acquired in the same transaction as the intangible sold. Do i have to file state taxes Covenant not to compete. Do i have to file state taxes   A covenant not to compete (or similar arrangement) that is a section 197 intangible cannot be treated as disposed of or worthless before you have disposed of your entire interest in the trade or business for which the covenant was entered into. Do i have to file state taxes Members of the same controlled group of corporations and commonly controlled businesses are treated as a single entity in determining whether a member has disposed of its entire interest in a trade or business. Do i have to file state taxes Anti-churning rules. Do i have to file state taxes   Anti-churning rules prevent a taxpayer from converting section 197 intangibles that do not qualify for amortization into property that would qualify for amortization. Do i have to file state taxes However, these rules do not apply to part of the basis of property acquired by certain related persons if the transferor elects to do both the following. Do i have to file state taxes Recognize gain on the transfer of the property. Do i have to file state taxes Pay income tax on the gain at the highest tax rate. Do i have to file state taxes   If the transferor is a partnership or S corporation, the partnership or S corporation (not the partners or shareholders) can make the election. Do i have to file state taxes But each partner or shareholder must pay the tax on his or her share of gain. Do i have to file state taxes   To make the election, you, as the transferor, must attach a statement containing certain information to your income tax return for the year of the transfer. Do i have to file state taxes You must file the tax return by the due date (including extensions). Do i have to file state taxes You must also notify the transferee of the election in writing by the due date of the return. Do i have to file state taxes   If you timely filed your return without making the election, you can make the election by filing an amended return within 6 months after the due date of the return (excluding extensions). Do i have to file state taxes Attach the statement to the amended return and write “Filed pursuant to section 301. Do i have to file state taxes 9100-2” at the top of the statement. Do i have to file state taxes File the amended return at the same address the original return was filed. Do i have to file state taxes For more information about making the election, see Regulations section 1. Do i have to file state taxes 197-2(h)(9). Do i have to file state taxes For information about reporting the tax on your income tax return, see the Instructions for Form 4797. Do i have to file state taxes Patents The transfer of a patent by an individual is treated as a sale or exchange of a capital asset held longer than 1 year. Do i have to file state taxes This applies even if the payments for the patent are made periodically during the transferee's use or are contingent on the productivity, use, or disposition of the patent. Do i have to file state taxes For information on the treatment of gain or loss on the transfer of capital assets, see chapter 4. Do i have to file state taxes This treatment applies to your transfer of a patent if you meet all the following conditions. Do i have to file state taxes You are the holder of the patent. Do i have to file state taxes You transfer the patent other than by gift, inheritance, or devise. Do i have to file state taxes You transfer all substantial rights to the patent or an undivided interest in all such rights. Do i have to file state taxes You do not transfer the patent to a related person. Do i have to file state taxes Holder. Do i have to file state taxes   You are the holder of a patent if you are either of the following. Do i have to file state taxes The individual whose effort created the patent property and who qualifies as the original and first inventor. Do i have to file state taxes The individual who bought an interest in the patent from the inventor before the invention was tested and operated successfully under operating conditions and who is neither related to, nor the employer of, the inventor. Do i have to file state taxes All substantial rights. Do i have to file state taxes   All substantial rights to patent property are all rights that have value when they are transferred. Do i have to file state taxes A security interest (such as a lien), or a reservation calling for forfeiture for nonperformance, is not treated as a substantial right for these rules and may be kept by you as the holder of the patent. Do i have to file state taxes   All substantial rights to a patent are not transferred if any of the following apply to the transfer. Do i have to file state taxes The rights are limited geographically within a country. Do i have to file state taxes The rights are limited to a period less than the remaining life of the patent. Do i have to file state taxes The rights are limited to fields of use within trades or industries and are less than all the rights that exist and have value at the time of the transfer. Do i have to file state taxes The rights are less than all the claims or inventions covered by the patent that exist and have value at the time of the transfer. Do i have to file state taxes Related persons. Do i have to file state taxes   This tax treatment does not apply if the transfer is directly or indirectly between you and a related person as defined earlier in the list under Nondeductible Loss, with the following changes. Do i have to file state taxes Members of your family include your spouse, ancestors, and lineal descendants, but not your brothers, sisters, half-brothers, or half-sisters. Do i have to file state taxes Substitute “25% or more” ownership for “more than 50%. Do i have to file state taxes ”   If you fit within the definition of a related person independent of family status, the brother-sister exception in (1), earlier, does not apply. Do i have to file state taxes For example, a transfer between a brother and a sister as beneficiary and fiduciary of the same trust is a transfer between related persons. Do i have to file state taxes The brother-sister exception does not apply because the trust relationship is independent of family status. Do i have to file state taxes Franchise, Trademark, or Trade Name If you transfer or renew a franchise, trademark, or trade name for a price contingent on its productivity, use, or disposition, the amount you receive generally is treated as an amount realized from the sale of a noncapital asset. Do i have to file state taxes A franchise includes an agreement that gives one of the parties the right to distribute, sell, or provide goods, services, or facilities within a specified area. Do i have to file state taxes Significant power, right, or continuing interest. Do i have to file state taxes   If you keep any significant power, right, or continuing interest in the subject matter of a franchise, trademark, or trade name that you transfer or renew, the amount you receive is ordinary royalty income rather than an amount realized from a sale or exchange. Do i have to file state taxes   A significant power, right, or continuing interest in a franchise, trademark, or trade name includes, but is not limited to, the following rights in the transferred interest. Do i have to file state taxes A right to disapprove any assignment of the interest, or any part of it. Do i have to file state taxes A right to end the agreement at will. Do i have to file state taxes A right to set standards of quality for products used or sold, or for services provided, and for the equipment and facilities used to promote such products or services. Do i have to file state taxes A right to make the recipient sell or advertise only your products or services. Do i have to file state taxes A right to make the recipient buy most supplies and equipment from you. Do i have to file state taxes A right to receive payments based on the productivity, use, or disposition of the transferred item of interest if those payments are a substantial part of the transfer agreement. Do i have to file state taxes Subdivision of Land If you own a tract of land and, to sell or exchange it, you subdivide it into individual lots or parcels, the gain normally is ordinary income. Do i have to file state taxes However, you may receive capital gain treatment on at least part of the proceeds provided you meet certain requirements. Do i have to file state taxes See section 1237 of the Internal Revenue Code. Do i have to file state taxes Timber Standing timber held as investment property is a capital asset. Do i have to file state taxes Gain or loss from its sale is reported as a capital gain or loss on Form 8949, and Schedule D (Form 1040), as applicable. Do i have to file state taxes If you held the timber primarily for sale to customers, it is not a capital asset. Do i have to file state taxes Gain or loss on its sale is ordinary business income or loss. Do i have to file state taxes It is reported in the gross receipts or sales and cost of goods sold items of your return. Do i have to file state taxes Farmers who cut timber on their land and sell it as logs, firewood, or pulpwood usually have no cost or other basis for that timber. Do i have to file state taxes These sales constitute a very minor part of their farm businesses. Do i have to file state taxes In these cases, amounts realized from such sales, and the expenses of cutting, hauling, etc. Do i have to file state taxes , are ordinary farm income and expenses reported on Schedule F (Form 1040), Profit or Loss From Farming. Do i have to file state taxes Different rules apply if you owned the timber longer than 1 year and elect to either: Treat timber cutting as a sale or exchange, or Enter into a cutting contract. Do i have to file state taxes Timber is considered cut on the date when, in the ordinary course of business, the quantity of felled timber is first definitely determined. Do i have to file state taxes This is true whether the timber is cut under contract or whether you cut it yourself. Do i have to file state taxes Under the rules discussed below, disposition of the timber is treated as a section 1231 transaction. Do i have to file state taxes See chapter 3. Do i have to file state taxes Gain or loss is reported on Form 4797. Do i have to file state taxes Christmas trees. Do i have to file state taxes   Evergreen trees, such as Christmas trees, that are more than 6 years old when severed from their roots and sold for ornamental purposes are included in the term timber. Do i have to file state taxes They qualify for both rules discussed below. Do i have to file state taxes Election to treat cutting as a sale or exchange. Do i have to file state taxes   Under the general rule, the cutting of timber results in no gain or loss. Do i have to file state taxes It is not until a sale or exchange occurs that gain or loss is realized. Do i have to file state taxes But if you owned or had a contractual right to cut timber, you can elect to treat the cutting of timber as a section 1231 transaction in the year the timber is cut. Do i have to file state taxes Even though the cut timber is not actually sold or exchanged, you report your gain or loss on the cutting for the year the timber is cut. Do i have to file state taxes Any later sale results in ordinary business income or loss. Do i have to file state taxes See Example, later. Do i have to file state taxes   To elect this treatment, you must: Own or hold a contractual right to cut the timber for a period of more than 1 year before it is cut, and Cut the timber for sale or for use in your trade or business. Do i have to file state taxes Making the election. Do i have to file state taxes   You make the election on your return for the year the cutting takes place by including in income the gain or loss on the cutting and including a computation of the gain or loss. Do i have to file state taxes You do not have to make the election in the first year you cut timber. Do i have to file state taxes You can make it in any year to which the election would apply. Do i have to file state taxes If the timber is partnership property, the election is made on the partnership return. Do i have to file state taxes This election cannot be made on an amended return. Do i have to file state taxes   Once you have made the election, it remains in effect for all later years unless you cancel it. Do i have to file state taxes   If you previously elected to treat the cutting of timber as a sale or exchange, you may revoke this election without the consent of the IRS. Do i have to file state taxes The prior election (and revocation) is disregarded for purposes of making a subsequent election. Do i have to file state taxes See Form T (Timber), Forest Activities Schedule, for more information. Do i have to file state taxes Gain or loss. Do i have to file state taxes   Your gain or loss on the cutting of standing timber is the difference between its adjusted basis for depletion and its fair market value on the first day of your tax year in which it is cut. Do i have to file state taxes   Your adjusted basis for depletion of cut timber is based on the number of units (feet board measure, log scale, or other units) of timber cut during the tax year and considered to be sold or exchanged. Do i have to file state taxes Your adjusted basis for depletion is also based on the depletion unit of timber in the account used for the cut timber, and should be figured in the same manner as shown in section 611 of the Internal Revenue Code and the related regulations. Do i have to file state taxes   Timber depletion is discussed in chapter 9 of Publication 535. Do i have to file state taxes Example. Do i have to file state taxes In April 2013, you had owned 4,000 MBF (1,000 board feet) of standing timber longer than 1 year. Do i have to file state taxes It had an adjusted basis for depletion of $40 per MBF. Do i have to file state taxes You are a calendar year taxpayer. Do i have to file state taxes On January 1, 2013, the timber had a fair market value (FMV) of $350 per MBF. Do i have to file state taxes It was cut in April for sale. Do i have to file state taxes On your 2013 tax return, you elect to treat the cutting of the timber as a sale or exchange. Do i have to file state taxes You report the difference between the fair market value and your adjusted basis for depletion as a gain. Do i have to file state taxes This amount is reported on Form 4797 along with your other section 1231 gains and losses to figure whether it is treated as capital gain or as ordinary gain. Do i have to file state taxes You figure your gain as follows. Do i have to file state taxes FMV of timber January 1, 2013 $1,400,000 Minus: Adjusted basis for depletion 160,000 Section 1231 gain $1,240,000 The fair market value becomes your basis in the cut timber and a later sale of the cut timber including any by-product or tree tops will result in ordinary business income or loss. Do i have to file state taxes Outright sales of timber. Do i have to file state taxes   Outright sales of timber by landowners qualify for capital gains treatment using rules similar to the rules for certain disposal of timber under a contract with retained economic interest (defined below). Do i have to file state taxes However, for outright sales, the date of disposal is not deemed to be the date the timber is cut because the landowner can elect to treat the payment date as the date of disposal (see below). Do i have to file state taxes Cutting contract. Do i have to file state taxes   You must treat the disposal of standing timber under a cutting contract as a section 1231 transaction if all the following apply to you. Do i have to file state taxes You are the owner of the timber. Do i have to file state taxes You held the timber longer than 1 year before its disposal. Do i have to file state taxes You kept an economic interest in the timber. Do i have to file state taxes   You have kept an economic interest in standing timber if, under the cutting contract, the expected return on your investment is conditioned on the cutting of the timber. Do i have to file state taxes   The difference between the amount realized from the disposal of the timber and its adjusted basis for depletion is treated as gain or loss on its sale. Do i have to file state taxes Include this amount on Form 4797 along with your other section 1231 gains or losses to figure whether it is treated as capital or ordinary gain or loss. Do i have to file state taxes Date of disposal. Do i have to file state taxes   The date of disposal is the date the timber is cut. Do i have to file state taxes However, for outright sales by landowners or if you receive payment under the contract before the timber is cut, you can elect to treat the date of payment as the date of disposal. Do i have to file state taxes   This election applies only to figure the holding period of the timber. Do i have to file state taxes It has no effect on the time for reporting gain or loss (generally when the timber is sold or exchanged). Do i have to file state taxes   To make this election, attach a statement to the tax return filed by the due date (including extensions) for the year payment is received. Do i have to file state taxes The statement must identify the advance payments subject to the election and the contract under which they were made. Do i have to file state taxes   If you timely filed your return for the year you received payment without making the election, you still can make the election by filing an amended return within 6 months after the due date for that year's return (excluding extensions). Do i have to file state taxes Attach the statement to the amended return and write “Filed pursuant to section 301. Do i have to file state taxes 9100-2” at the top of the statement. Do i have to file state taxes File the amended return at the same address the original return was filed. Do i have to file state taxes Owner. Do i have to file state taxes   The owner of timber is any person who owns an interest in it, including a sublessor and the holder of a contract to cut the timber. Do i have to file state taxes You own an interest in timber if you have the right to cut it for sale on your own account or for use in your business. Do i have to file state taxes Tree stumps. Do i have to file state taxes   Tree stumps are a capital asset if they are on land held by an investor who is not in the timber or stump business as a buyer, seller, or processor. Do i have to file state taxes Gain from the sale of stumps sold in one lot by such a holder is taxed as a capital gain. Do i have to file state taxes However, tree stumps held by timber operators after the saleable standing timber was cut and removed from the land are considered by-products. Do i have to file state taxes Gain from the sale of stumps in lots or tonnage by such operators is taxed as ordinary income. Do i have to file state taxes   See Form T (Timber) and its separate instructions for more information about dispositions of timber. Do i have to file state taxes Precious Metals and Stones, Stamps, and Coins Gold, silver, gems, stamps, coins, etc. Do i have to file state taxes , are capital assets except when they are held for sale by a dealer. Do i have to file state taxes Any gain or loss from their sale or exchange generally is a capital gain or loss. Do i have to file state taxes If you are a dealer, the amount received from the sale is ordinary business income. Do i have to file state taxes Coal and Iron Ore You must treat the disposal of coal (including lignite) or iron ore mined in the United States as a section 1231 transaction if both the following apply to you. Do i have to file state taxes You owned the coal or iron ore longer than 1 year before its disposal. Do i have to file state taxes You kept an economic interest in the coal or iron ore. Do i have to file state taxes For this rule, the date the coal or iron ore is mined is considered the date of its disposal. Do i have to file state taxes Your gain or loss is the difference between the amount realized from disposal of the coal or iron ore and the adjusted basis you use to figure cost depletion (increased by certain expenses not allowed as deductions for the tax year). Do i have to file state taxes This amount is included on Form 4797 along with your other section 1231 gains and losses. Do i have to file state taxes You are considered an owner if you own or sublet an economic interest in the coal or iron ore in place. Do i have to file state taxes If you own only an option to buy the coal in place, you do not qualify as an owner. Do i have to file state taxes In addition, this gain or loss treatment does not apply to income realized by an owner who is a co-adventurer, partner, or principal in the mining of coal or iron ore. Do i have to file state taxes The expenses of making and administering the contract under which the coal or iron ore was disposed of and the expenses of preserving the economic interest kept under the contract are not allowed as deductions in figuring taxable income. Do i have to file state taxes Rather, their total, along with the adjusted depletion basis, is deducted from the amount received to determine gain. Do i have to file state taxes If the total of these expenses plus the adjusted depletion basis is more than the amount received, the result is a loss. Do i have to file state taxes Special rule. Do i have to file state taxes   The above treatment does not apply if you directly or indirectly dispose of the iron ore or coal to any of the following persons. Do i have to file state taxes A related person whose relationship to you would result in the disallowance of a loss (see Nondeductible Loss under Sales and Exchanges Between Related Persons, earlier). Do i have to file state taxes An individual, trust, estate, partnership, association, company, or corporation owned or controlled directly or indirectly by the same interests that own or control your business. Do i have to file state taxes Conversion Transactions Recognized gain on the disposition or termination of any position held as part of certain conversion transactions is treated as ordinary income. Do i have to file state taxes This applies if substantially all your expected return is attributable to the time value of your net investment (like interest on a loan) and the transaction is any of the following. Do i have to file state taxes An applicable straddle (generally, any set of offsetting positions with respect to personal property, including stock). Do i have to file state taxes A transaction in which you acquire property and, at or about the same time, you contract to sell the same or substantially identical property at a specified price. Do i have to file state taxes Any other transaction that is marketed and sold as producing capital gain from a transaction in which substantially all of your expected return is due to the time value of your net investment. Do i have to file state taxes For more information, see chapter 4 of Publication 550. Do i have to file state taxes Prev  Up  Next   Home   More Online Publications