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Federal Tax Forms 2010

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Federal Tax Forms 2010

Federal tax forms 2010 Publication 523 - Main Content Table of Contents Main HomeVacant land. Federal tax forms 2010 Factors used to determine main home. Federal tax forms 2010 Figuring Gain or LossSelling Price Amount Realized Adjusted Basis Amount of Gain or Loss Dispositions Other Than Sales Determining BasisCost As Basis Basis Other Than Cost Adjusted Basis Excluding the GainMaximum Exclusion Ownership and Use Tests Reduced Maximum Exclusion Nonqualified Use Business Use or Rental of HomeUnrecaptured section 1250 gain. Federal tax forms 2010 Property Used Partly for Business or Rental Reporting the SaleSeller-financed mortgage. Federal tax forms 2010 Individual taxpayer identification number (ITIN). Federal tax forms 2010 More information. Federal tax forms 2010 Comprehensive Examples Special SituationsException for sales to related persons. Federal tax forms 2010 Deducting Taxes in the Year of SaleForm 1099-S. Federal tax forms 2010 More information. Federal tax forms 2010 Recapturing (Paying Back) a Federal Mortgage Subsidy Recapture of First-Time Homebuyer CreditExample. Federal tax forms 2010 Worksheets How To Get Tax HelpLow Income Taxpayer Clinics Main Home This section explains the term “main home. Federal tax forms 2010 ” Usually, the home you live in most of the time is your main home and can be a: House, Houseboat, Mobile home, Cooperative apartment, or Condominium. Federal tax forms 2010 To exclude gain under the rules in this publication, you in most cases must have owned and lived in the property as your main home for at least 2 years during the 5-year period ending on the date of sale. Federal tax forms 2010 Land. Federal tax forms 2010   If you sell the land on which your main home is located, but not the house itself, you cannot exclude any gain you have from the sale of the land. Federal tax forms 2010 Example. Federal tax forms 2010 You buy a piece of land and move your main home to it. Federal tax forms 2010 Then, you sell the land on which your main home was located. Federal tax forms 2010 This sale is not considered a sale of your main home, and you cannot exclude any gain on the sale of the land. Federal tax forms 2010 Vacant land. Federal tax forms 2010   The sale of vacant land is not a sale of your main home unless: The vacant land is adjacent to land containing your home, You owned and used the vacant land as part of your main home, The separate sale of your home satisfies the requirements for exclusion and occurs within 2 years before or 2 years after the date of the sale of the vacant land, and The other requirements for excluding gain from the sale of a main home have been satisfied with respect to the vacant land. Federal tax forms 2010 If these requirements are met, the sale of the home and the sale of the vacant land are treated as one sale and only one maximum exclusion can be applied to any gain. Federal tax forms 2010 See Excluding the Gain , later. Federal tax forms 2010 The destruction of your home is treated as a sale of your home. Federal tax forms 2010 As a result, you may be able to meet these requirements if you sell vacant land used as a part of your main home within 2 years from the date of the destruction of your main home. Federal tax forms 2010 For information, see Publication 547. Federal tax forms 2010 More than one home. Federal tax forms 2010   If you have more than one home, you can exclude gain only from the sale of your main home. Federal tax forms 2010 You must include in income the gain from the sale of any other home. Federal tax forms 2010 If you have two homes and live in each of them, your main home is ordinarily the one you live in most of the time during the year. Federal tax forms 2010 Example 1. Federal tax forms 2010 You own two homes, one in New York and one in Florida. Federal tax forms 2010 From 2009 through 2013, you live in the New York home for 7 months and in the Florida residence for 5 months of each year. Federal tax forms 2010 In the absence of facts and circumstances indicating otherwise, the New York home is your main home. Federal tax forms 2010 You would be eligible to exclude the gain from the sale of the New York home but not of the Florida home in 2013. Federal tax forms 2010 Example 2. Federal tax forms 2010 You own a house, but you live in another house that you rent. Federal tax forms 2010 The rented house is your main home. Federal tax forms 2010 Example 3. Federal tax forms 2010 You own two homes, one in Virginia and one in New Hampshire. Federal tax forms 2010 In 2009 and 2010, you lived in the Virginia home. Federal tax forms 2010 In 2011 and 2012, you lived in the New Hampshire home. Federal tax forms 2010 In 2013, you lived again in the Virginia home. Federal tax forms 2010 Your main home in 2009, 2010, and 2013 is the Virginia home. Federal tax forms 2010 Your main home in 2011 and 2012 is the New Hampshire home. Federal tax forms 2010 You would be eligible to exclude gain from the sale of either home (but not both) in 2013. Federal tax forms 2010 Factors used to determine main home. Federal tax forms 2010   In addition to the amount of time you live in each home, other factors are relevant in determining which home is your main home. Federal tax forms 2010 Those factors include the following. Federal tax forms 2010 Your place of employment. Federal tax forms 2010 The location of your family members' main home. Federal tax forms 2010 Your mailing address for bills and correspondence. Federal tax forms 2010 The address listed on your: Federal and state tax returns, Driver's license, Car registration, and Voter registration card. Federal tax forms 2010 The location of the banks you use. Federal tax forms 2010 The location of recreational clubs and religious organizations of which you are a member. Federal tax forms 2010 Property used partly as your main home. Federal tax forms 2010   If you use only part of the property as your main home, the rules discussed in this publication apply only to the gain or loss on the sale of that part of the property. Federal tax forms 2010 For details, see Business Use or Rental of Home , later. Federal tax forms 2010 Figuring Gain or Loss To figure the gain or loss on the sale of your main home, you must know the selling price, the amount realized, and the adjusted basis. Federal tax forms 2010 Subtract the adjusted basis from the amount realized to get your gain or loss. Federal tax forms 2010     Selling price     − Selling expenses       Amount realized     − Adjusted basis       Gain or loss   Gain. Federal tax forms 2010   Gain is the excess of the amount realized over the adjusted basis of the property. Federal tax forms 2010 Loss. Federal tax forms 2010   Loss is the excess of the adjusted basis over the amount realized for the property. Federal tax forms 2010 Selling Price The selling price is the total amount you receive for your home. Federal tax forms 2010 It includes money and the fair market value of any other property or any other services you receive and all notes, mortgages or other debts assumed by the buyer as part of the sale. Federal tax forms 2010 Personal property. Federal tax forms 2010   The selling price of your home does not include amounts you received for personal property sold with your home. Federal tax forms 2010 Personal property is property that is not a permanent part of the home. Federal tax forms 2010 Examples are furniture, draperies, rugs, a washer and dryer, and lawn equipment. Federal tax forms 2010 Separately stated amounts you received for these items should not be shown on Form 1099-S (discussed later). Federal tax forms 2010 Any gains from sales of personal property must be included in your income, but not as part of the sale of your home. Federal tax forms 2010 Payment by employer. Federal tax forms 2010   You may have to sell your home because of a job transfer. Federal tax forms 2010 If your employer pays you for a loss on the sale or for your selling expenses, do not include the payment as part of the selling price. Federal tax forms 2010 Your employer will include it as wages in box 1 of your Form W-2 and you will include it in your income on Form 1040, line 7, or on Form 1040NR, line 8. Federal tax forms 2010 Option to buy. Federal tax forms 2010   If you grant an option to buy your home and the option is exercised, add the amount you receive for the option to the selling price of your home. Federal tax forms 2010 If the option is not exercised, you must report the amount as ordinary income in the year the option expires. Federal tax forms 2010 Report this amount on Form 1040, line 21, or on Form 1040NR, line 21. Federal tax forms 2010 Form 1099-S. Federal tax forms 2010   If you received Form 1099-S, box 2 (gross proceeds) should show the total amount you received for your home. Federal tax forms 2010   However, box 2 will not include the fair market value of any services or property other than cash or notes you received or will receive. Federal tax forms 2010 Instead, box 4 will be checked to indicate your receipt or expected receipt of these items. Federal tax forms 2010 Amount Realized The amount realized is the selling price minus selling expenses. Federal tax forms 2010 Selling expenses. Federal tax forms 2010   Selling expenses include: Commissions, Advertising fees, Legal fees, and Loan charges paid by the seller, such as loan placement fees or “points. Federal tax forms 2010 ” Adjusted Basis While you owned your home, you may have made adjustments (increases or decreases) to the basis. Federal tax forms 2010 This adjusted basis must be determined before you can figure gain or loss on the sale of your home. Federal tax forms 2010 For information on how to figure your home's adjusted basis, see Determining Basis , later. Federal tax forms 2010 Amount of Gain or Loss To figure the amount of gain or loss, compare the amount realized to the adjusted basis. Federal tax forms 2010 Gain on sale. Federal tax forms 2010   If the amount realized is more than the adjusted basis, the difference is a gain and, except for any part you can exclude, generally is taxable. Federal tax forms 2010 Loss on sale. Federal tax forms 2010   If the amount realized is less than the adjusted basis, the difference is a loss. Federal tax forms 2010 Generally, a loss on the sale of your main home cannot be deducted. Federal tax forms 2010 Jointly owned home. Federal tax forms 2010   If you and your spouse sell your jointly owned home and file a joint return, you figure your gain or loss as one taxpayer. Federal tax forms 2010 Separate returns. Federal tax forms 2010   If you file separate returns, each of you must figure your own gain or loss according to your ownership interest in the home. Federal tax forms 2010 Your ownership interest is generally determined by state law. Federal tax forms 2010 Joint owners not married. Federal tax forms 2010   If you and a joint owner other than your spouse sell your jointly owned home, each of you must figure your own gain or loss according to your ownership interest in the home. Federal tax forms 2010 Each of you applies the rules discussed in this publication on an individual basis. Federal tax forms 2010 Dispositions Other Than Sales Some special rules apply to other dispositions of your main home. Federal tax forms 2010 Foreclosure or repossession. Federal tax forms 2010   If your home was foreclosed on or repossessed, you have a disposition. Federal tax forms 2010 See Publication 4681 to determine if you have ordinary income, gain, or loss. Federal tax forms 2010 More information. Federal tax forms 2010   If part of a home is used for business or rental purposes, see Foreclosures and Repossessions in chapter 1 of Publication 544 for more information. Federal tax forms 2010 Publication 544 has examples of how to figure gain or loss on a foreclosure or repossession. Federal tax forms 2010 Abandonment. Federal tax forms 2010   If you abandon your home, see Publication 4681 to determine if you have ordinary income, gain, or loss. Federal tax forms 2010 Trading (exchanging) homes. Federal tax forms 2010   If you trade your home for another home, treat the trade as a sale and a purchase. Federal tax forms 2010 Example. Federal tax forms 2010 You owned and lived in a home with an adjusted basis of $41,000. Federal tax forms 2010 A real estate dealer accepted your old home as a trade-in and allowed you $50,000 toward a new home priced at $80,000. Federal tax forms 2010 This is treated as a sale of your old home for $50,000 with a gain of $9,000 ($50,000 − $41,000). Federal tax forms 2010 If the dealer had allowed you $27,000 and assumed your unpaid mortgage of $23,000 on your old home, your sales price would still be $50,000 (the $27,000 trade-in allowed plus the $23,000 mortgage assumed). Federal tax forms 2010 Transfer to spouse. Federal tax forms 2010   If you transfer your home to your spouse or you transfer it to your former spouse incident to your divorce, you in most cases have no gain or loss (unless the Exception, discussed next, applies). Federal tax forms 2010 This is true even if you receive cash or other consideration for the home. Federal tax forms 2010 As a result, the rules explained in this publication do not apply. Federal tax forms 2010   If you owned your home jointly with your spouse and transfer your interest in the home to your spouse, or to your former spouse incident to your divorce, the same rule applies. Federal tax forms 2010 You have no gain or loss. Federal tax forms 2010 Exception. Federal tax forms 2010   These transfer rules do not apply if your spouse or former spouse is a nonresident alien. Federal tax forms 2010 In that case, you generally will have a gain or loss. Federal tax forms 2010 More information. Federal tax forms 2010    See Property Settlements in Publication 504, Divorced or Separated Individuals, for more information. Federal tax forms 2010 Involuntary conversion. Federal tax forms 2010   You have a disposition when your home is destroyed or condemned and you receive other property or money in payment, such as insurance or a condemnation award. Federal tax forms 2010 This is treated as a sale and you may be able to exclude all or part of any gain from the destruction or condemnation of your home, as explained later under Special Situations (see Home destroyed or condemned ). Federal tax forms 2010 Determining Basis You need to know your basis in your home to figure any gain or loss when you sell it. Federal tax forms 2010 Your basis in your home is determined by how you got the home. Federal tax forms 2010 Generally, your basis is its cost if you bought it or built it. Federal tax forms 2010 If you got it in some other way (inheritance, gift, etc. Federal tax forms 2010 ), your basis is generally either its fair market value when you received it or the adjusted basis of the previous owner. Federal tax forms 2010 While you owned your home, you may have made adjustments (increases or decreases) to your home's basis. Federal tax forms 2010 The result of these adjustments is your home's adjusted basis, which is used to figure gain or loss on the sale of your home. Federal tax forms 2010 To figure your adjusted basis, you can use Worksheet 1, near the end of this publication. Federal tax forms 2010 Filled-in examples of that worksheet are included in the Comprehensive Examples , later. Federal tax forms 2010 Cost As Basis The cost of property is the amount you paid for it in cash, debt obligations, other property, or services. Federal tax forms 2010 Purchase. Federal tax forms 2010   If you bought your home, your basis is its cost to you. Federal tax forms 2010 This includes the purchase price and certain settlement or closing costs. Federal tax forms 2010 In most cases, your purchase price includes your down payment and any debt, such as a first or second mortgage or notes you gave the seller in payment for the home. Federal tax forms 2010 If you build, or contract to build, a new home, your purchase price can include costs of construction, as discussed later. Federal tax forms 2010 Seller-paid points. Federal tax forms 2010   If the person who sold you your home paid points on your loan, you may have to reduce your home's basis by the amount of the points, as shown in the following chart. Federal tax forms 2010    IF you bought your home. Federal tax forms 2010 . Federal tax forms 2010 . Federal tax forms 2010 THEN reduce your home's basis by the seller-paid points. Federal tax forms 2010 . Federal tax forms 2010 . Federal tax forms 2010 after 1990 but before April 4, 1994 only if you deducted them as home mortgage interest in the year paid. Federal tax forms 2010 after April 3, 1994 even if you did not deduct them. Federal tax forms 2010 Settlement fees or closing costs. Federal tax forms 2010   When you bought your home, you may have paid settlement fees or closing costs in addition to the contract price of the property. Federal tax forms 2010 You can include in your basis some of the settlement fees and closing costs you paid for buying the home, but not the fees and costs for getting a mortgage loan. Federal tax forms 2010 A fee paid for buying the home is any fee you would have had to pay even if you paid cash for the home (that is, without the need for financing). Federal tax forms 2010   Settlement fees do not include amounts placed in escrow for the future payment of items such as taxes and insurance. Federal tax forms 2010   Some of the settlement fees or closing costs that you can include in your basis are: Abstract fees (abstract of title fees), Charges for installing utility services, Legal fees (including fees for the title search and preparing the sales contract and deed), Recording fees, Survey fees, Transfer or stamp taxes, Owner's title insurance, and Any amounts the seller owes that you agree to pay, such as: Certain real estate taxes (discussed later), Back interest, Recording or mortgage fees, Charges for improvements or repairs, and Sales commissions. Federal tax forms 2010   Some settlement fees and closing costs you cannot include in your basis are: Fire insurance premiums, Rent for occupancy of the house before closing, Charges for utilities or other services related to occupancy of the house before closing, Any fee or cost that you deducted as a moving expense (allowed for certain fees and costs before 1994), Charges connected with getting a mortgage loan, such as: Mortgage insurance premiums (including funding fees connected with loans guaranteed by the Department of Veterans Affairs), Loan assumption fees, Cost of a credit report, Fee for an appraisal required by a lender, and Fees for refinancing a mortgage. Federal tax forms 2010 Real estate taxes. Federal tax forms 2010   Real estate taxes for the year you bought your home may affect your basis, as shown in the following chart. Federal tax forms 2010    IF. Federal tax forms 2010 . Federal tax forms 2010 . Federal tax forms 2010 AND. Federal tax forms 2010 . Federal tax forms 2010 . Federal tax forms 2010 THEN the taxes. Federal tax forms 2010 . Federal tax forms 2010 . Federal tax forms 2010 you pay taxes that the seller owed on the home up to the date of sale the seller does not reimburse you are added to the basis of your home. Federal tax forms 2010 the seller reimburses you do not affect the basis of your home. Federal tax forms 2010 the seller pays taxes for you (taxes owed beginning on the date of sale) you do not reimburse the seller are subtracted from the basis of your home. Federal tax forms 2010 you reimburse the seller do not affect the basis of your home. Federal tax forms 2010 Construction. Federal tax forms 2010   If you contracted to have your house built on land you own, your basis is: The cost of the land, plus The amount it cost you to complete the house, including: The cost of labor and materials, Any amounts paid to a contractor, Any architect's fees, Building permit charges, Utility meter and connection charges, and Legal fees directly connected with building the house. Federal tax forms 2010   Your cost includes your down payment and any debt such as a first or second mortgage or notes you gave the seller or builder. Federal tax forms 2010 It also includes certain settlement or closing costs. Federal tax forms 2010 You may have to reduce your basis by points the seller paid for you. Federal tax forms 2010 For more information, see Seller-paid points and Settlement fees or closing costs , earlier. Federal tax forms 2010 Built by you. Federal tax forms 2010   If you built all or part of your house yourself, its basis is the total amount it cost you to complete it. Federal tax forms 2010 Do not include in the cost of the house: The value of your own labor, or The value of any other labor you did not pay for. Federal tax forms 2010 Temporary housing. Federal tax forms 2010   If a builder gave you temporary housing while your home was being finished, you must reduce your basis by the part of the contract price that was for the temporary housing. Federal tax forms 2010 To figure the amount of the reduction, multiply the contract price by a fraction. Federal tax forms 2010 The numerator is the value of the temporary housing, and the denominator is the sum of the value of the temporary housing plus the value of the new home. Federal tax forms 2010 Cooperative apartment. Federal tax forms 2010   If you are a tenant-stockholder in a cooperative housing corporation, your basis in the cooperative apartment used as your home is usually the cost of your stock in the corporation. Federal tax forms 2010 This may include your share of a mortgage on the apartment building. Federal tax forms 2010 Condominium. Federal tax forms 2010   To determine your basis in a condominium apartment used as your home, use the same rules as for any other home. Federal tax forms 2010 Basis Other Than Cost You must use a basis other than cost, such as adjusted basis or fair market value, if you received your home as a gift, inheritance, a trade, or from your spouse. Federal tax forms 2010 These situations are discussed in the following pages. Federal tax forms 2010 Also, the instructions for Worksheet 1 (near the end of the publication) address each of these issues. Federal tax forms 2010 Other special rules may apply in certain situations. Federal tax forms 2010 If you converted the property, or some part of it, to business or rental use, see Property Changed to Business or Rental Use, in Publication 551. Federal tax forms 2010 Home received as gift. Federal tax forms 2010   Use the following chart to find the basis of a home you received as a gift. Federal tax forms 2010 IF the donor's adjusted basis at the time of the gift was. Federal tax forms 2010 . Federal tax forms 2010 . Federal tax forms 2010 THEN your basis is. Federal tax forms 2010 . Federal tax forms 2010 . Federal tax forms 2010 more than the fair market value of the home at that time the same as the donor's adjusted basis at the time of the gift. Federal tax forms 2010   Exception: If using the donor's adjusted basis results in a loss when you sell the home, you must use the fair market value of the home at the time of the gift as your basis. Federal tax forms 2010 If using the fair market value results in a gain, you have neither gain nor loss. Federal tax forms 2010 equal to or less than the fair market value at that time, and you received the gift before 1977 the smaller of the: • donor's adjusted basis, plus  any federal gift tax paid on  the gift, or • the home's fair market value  at the time of the gift. Federal tax forms 2010 equal to or less than the fair market value at that time, and you received the gift after 1976 the same as the donor's adjusted basis, plus the part of any federal gift tax paid that is due to the net increase in value of the home (explained next). Federal tax forms 2010 Fair market value. Federal tax forms 2010   The fair market value of property at the time of the gift is the value of the property as appraised for purposes of the federal gift tax. Federal tax forms 2010 If the gift was not subject to the federal gift tax, the fair market value is the value as appraised for the purposes of a state gift tax. Federal tax forms 2010 Part of federal gift tax due to net increase in value. Federal tax forms 2010   Figure the part of the federal gift tax paid that is due to the net increase in value of the home by multiplying the total federal gift tax paid by a fraction. Federal tax forms 2010 The numerator of the fraction is the net increase in the value of the home, and the denominator is the value of the home for gift tax purposes after reduction by any annual exclusion and marital or charitable deduction that applies to the gift. Federal tax forms 2010 The net increase in the value of the home is its fair market value minus the donor's adjusted basis immediately before the gift. Federal tax forms 2010 Home acquired from a decedent who died before or after 2010. Federal tax forms 2010   If you inherited your home from a decedent who died before or after 2010, your basis is the fair market value of the property on the date of the decedent's death (or the later alternate valuation date chosen by the personal representative of the estate). Federal tax forms 2010 If an estate tax return was filed or required to be filed, the value of the property listed on the estate tax return is your basis. Federal tax forms 2010 If a federal estate tax return did not have to be filed, your basis in the home is the same as its appraised value at the date of death, for purposes of state inheritance or transmission taxes. Federal tax forms 2010 Surviving spouse. Federal tax forms 2010   If you are a surviving spouse and you owned your home jointly, your basis in the home will change. Federal tax forms 2010 The new basis for the interest your spouse owned will be its fair market value on the date of death (or alternate valuation date). Federal tax forms 2010 The basis in your interest will remain the same. Federal tax forms 2010 Your new basis in the home is the total of these two amounts. Federal tax forms 2010   If you and your spouse owned the home either as tenants by the entirety or as joint tenants with right of survivorship, you will each be considered to have owned one-half of the home. Federal tax forms 2010 Example. Federal tax forms 2010 Your jointly owned home (owned as joint tenants with right of survivorship) had an adjusted basis of $50,000 on the date of your spouse's death, and the fair market value on that date was $100,000. Federal tax forms 2010 Your new basis in the home is $75,000 ($25,000 for one-half of the adjusted basis plus $50,000 for one-half of the fair market value). Federal tax forms 2010 Community property. Federal tax forms 2010   In community property states (Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin), each spouse is usually considered to own half of the community property. Federal tax forms 2010 When either spouse dies, the total fair market value of the community property becomes the basis of the entire property, including the part belonging to the surviving spouse. Federal tax forms 2010 For this to apply, at least half the value of the community property interest must be includible in the decedent's gross estate, whether or not the estate must file a return. Federal tax forms 2010   For more information about community property, see Publication 555, Community Property. Federal tax forms 2010    If you are selling a home in which you acquired an interest from a decedent who died in 2010, see Publication 4895, Tax Treatment of Property Acquired From a Decedent Dying in 2010, to determine your basis. Federal tax forms 2010 Home received as trade. Federal tax forms 2010   If you acquired your home as a trade for other property, in most cases, the basis of your home is the fair market value (at the time of the trade) of the property you gave up. Federal tax forms 2010 If you traded one home for another, you have made a sale and purchase. Federal tax forms 2010 In that case, you may have a gain. Federal tax forms 2010 See Trading (exchanging) homes under Dispositions Other Than Sales, earlier, for an example of figuring the gain. Federal tax forms 2010 Home received from spouse. Federal tax forms 2010   If you received your home from your spouse or from your former spouse incident to your divorce, your basis in the home depends on the date of the transfer. Federal tax forms 2010 Transfers after July 18, 1984. Federal tax forms 2010   If you received the home after July 18, 1984, there was no gain or loss on the transfer. Federal tax forms 2010 In most cases, your basis in this home is the same as your spouse's (or former spouse's) adjusted basis just before you received it. Federal tax forms 2010 This rule applies even if you received the home in exchange for cash, the release of marital rights, the assumption of liabilities, or other considerations. Federal tax forms 2010   If you owned a home jointly with your spouse and your spouse transferred his or her interest in the home to you, in most cases, your basis in the half interest received from your spouse is the same as your spouse's adjusted basis just before the transfer. Federal tax forms 2010 This also applies if your former spouse transferred his or her interest in the home to you incident to your divorce. Federal tax forms 2010 Your basis in the half interest you already owned does not change. Federal tax forms 2010 Your new basis in the home is the total of these two amounts. Federal tax forms 2010 Transfers before July 19, 1984. Federal tax forms 2010   If you received your home before July 19, 1984, in exchange for your release of marital rights, in most cases, your basis in the home is generally its fair market value at the time you received it. Federal tax forms 2010 More information. Federal tax forms 2010   For more information on property received from a spouse or former spouse, see Property Settlements in Publication 504. Federal tax forms 2010 Involuntary conversion. Federal tax forms 2010   If your home is destroyed or condemned, you may receive insurance proceeds or a condemnation award. Federal tax forms 2010 If you acquired a replacement home with these proceeds, the basis is its cost decreased by any gain not recognized on the conversion under the rules explained in: Publication 547, in the case of a home that was destroyed, or Chapter 1 of Publication 544, in the case of a home that was condemned. Federal tax forms 2010 Example. Federal tax forms 2010 A fire destroyed your home that you owned and used for only 6 months. Federal tax forms 2010 The home had an adjusted basis of $80,000 and the insurance company paid you $130,000 for the loss. Federal tax forms 2010 Your gain is $50,000 ($130,000 − $80,000). Federal tax forms 2010 You bought a replacement home for $100,000. Federal tax forms 2010 The part of your gain that is taxable is $30,000 ($130,000 − $100,000), the unspent part of the payment from the insurance company. Federal tax forms 2010 The rest of the gain ($20,000) is not taxable, so that amount reduces your basis in the new home. Federal tax forms 2010 The basis of the new home is figured as follows. Federal tax forms 2010 Cost of replacement home $100,000 Minus: Gain not recognized 20,000 Basis of the replacement home $80,000 More information. Federal tax forms 2010   For more information about basis, see Publication 551. Federal tax forms 2010 Adjusted Basis Adjusted basis is your cost or other basis increased or decreased by certain amounts. Federal tax forms 2010 To figure your adjusted basis, you can use Worksheet 1, found toward the end of this publication. Federal tax forms 2010 Filled-in examples of that worksheet are included in Comprehensive Examples , later. Federal tax forms 2010 Recordkeeping. Federal tax forms 2010 You should keep records to prove your home's adjusted basis. Federal tax forms 2010 Ordinarily, you must keep records for 3 years after the due date for filing your return for the tax year in which you sold your home. Federal tax forms 2010 But if you sold a home before May 7, 1997, and postponed tax on any gain, the basis of that home affects the basis of the new home you bought. Federal tax forms 2010 Keep records proving the basis of both homes as long as they are needed for tax purposes. Federal tax forms 2010 The records you should keep include: Proof of the home's purchase price and purchase expenses; Receipts and other records for all improvements, additions, and other items that affect the home's adjusted basis; Any worksheets or other computations you used to figure the adjusted basis of the home you sold, the gain or loss on the sale, the exclusion, and the taxable gain; Any Form 982 you filed to exclude any discharge of qualified principal residence indebtedness; Any Form 2119, Sale of Your Home, you filed to postpone gain from the sale of a previous home before May 7, 1997; and Any worksheets you used to prepare Form 2119, such as the Adjusted Basis of Home Sold Worksheet or the Capital Improvements Worksheet from the Form 2119 instructions, or other source of computations. Federal tax forms 2010 Increases to Basis These include the following. Federal tax forms 2010 Additions and other improvements that have a useful life of more than 1 year. Federal tax forms 2010 Special assessments for local improvements. Federal tax forms 2010 Amounts you spent after a casualty to restore damaged property. Federal tax forms 2010 Improvements. Federal tax forms 2010   These add to the value of your home, prolong its useful life, or adapt it to new uses. Federal tax forms 2010 You add the cost of additions and other improvements to the basis of your property. Federal tax forms 2010   The following chart lists some other examples of improvements. Federal tax forms 2010 Examples of Improvements That Increase Basis Additions Bedroom Bathroom Deck Garage Porch Patio Heating & Air Conditioning Heating system Central air conditioning Furnace Duct work Central humidifier Filtration system Lawn & Grounds Landscaping Driveway Walkway Fence  Retaining wall Sprinkler system Swimming pool  Miscellaneous Storm windows, doors New roof Central vacuum Wiring upgrades Satellite dish Security system  Plumbing Septic system Water heater Soft water system Filtration system  Interior Improvements Built-in appliances  Kitchen modernization  Flooring Wall-to-wall carpeting  Insulation Attic Walls Floors Pipes and duct work Improvements no longer part of home. Federal tax forms 2010   Your home's adjusted basis does not include the cost of any improvements that are replaced and are no longer part of the home. Federal tax forms 2010 Example. Federal tax forms 2010 You put wall-to-wall carpeting in your home 15 years ago. Federal tax forms 2010 Later, you replaced that carpeting with new wall-to-wall carpeting. Federal tax forms 2010 The cost of the old carpeting you replaced is no longer part of your home's adjusted basis. Federal tax forms 2010 Repairs. Federal tax forms 2010   These maintain your home in good condition but do not add to its value or prolong its life. Federal tax forms 2010 You do not add their cost to the basis of your property. Federal tax forms 2010 Examples. Federal tax forms 2010 Repainting your house inside or outside, fixing your gutters or floors, repairing leaks or plastering, and replacing broken window panes are examples of repairs. Federal tax forms 2010 Exception. Federal tax forms 2010   The entire job is considered an improvement if items that would otherwise be considered repairs are done as part of an extensive remodeling or restoration of your home. Federal tax forms 2010 For example, if you have a casualty and your home is damaged, increase your basis by the amount you spend on repairs that restore the property to its pre-casualty condition. Federal tax forms 2010 Decreases to Basis These include the following. Federal tax forms 2010 Discharge of qualified principal residence indebtedness that was excluded from income (but not below zero). Federal tax forms 2010 For details, see Publication 4681. Federal tax forms 2010 Some or all of the cancellation of debt income that was excluded due to your bankruptcy or insolvency. Federal tax forms 2010 For details, see Publication 4681. Federal tax forms 2010 Gain you postponed from the sale of a previous home before May 7, 1997. Federal tax forms 2010 Deductible casualty losses. Federal tax forms 2010 Insurance payments you received or expect to receive for casualty losses. Federal tax forms 2010 Payments you received for granting an easement or right-of-way. Federal tax forms 2010 Depreciation allowed or allowable if you used your home for business or rental purposes. Federal tax forms 2010 Energy-related credits allowed for expenditures made on the residence. Federal tax forms 2010 (Reduce the increase in basis otherwise allowable for expenditures on the residence by the amount of credit allowed for those expenditures. Federal tax forms 2010 ) Adoption credit you claimed for improvements added to the basis of your home. Federal tax forms 2010 Nontaxable payments from an adoption assistance program of your employer you used for improvements you added to the basis of your home. Federal tax forms 2010 Energy conservation subsidy excluded from your gross income because you received it (directly or indirectly) from a public utility after 1992 to buy or install any energy conservation measure. Federal tax forms 2010 An energy conservation measure is an installation or modification primarily designed either to reduce consumption of electricity or natural gas or to improve the management of energy demand for a home. Federal tax forms 2010 District of Columbia first-time homebuyer credit allowed on the purchase of a principal residence in the District of Columbia. Federal tax forms 2010 General sales taxes claimed as an itemized deduction on Schedule A (Form 1040) that were imposed on the purchase of personal property, such as a houseboat used as your home or a mobile home. Federal tax forms 2010 Discharges of qualified principal residence indebtedness. Federal tax forms 2010   You may be able to exclude from gross income a discharge of qualified principal residence indebtedness. Federal tax forms 2010 This exclusion applies to discharges made after 2006 and before 2014. Federal tax forms 2010 If you choose to exclude this income, you must reduce (but not below zero) the basis of your principal residence by the amount excluded from gross income. Federal tax forms 2010   File Form 982 with your tax return. Federal tax forms 2010 See the form's instructions for detailed information. Federal tax forms 2010    A decrease in basis due to a discharge of qualified principal residence indebtedness that is excluded from income occurs only if you retain ownership of the principal residence after a discharge. Federal tax forms 2010 In most cases, this would occur in a refinancing or a restructuring of the mortgage. Federal tax forms 2010 Excluding the Gain You may qualify to exclude from your income all or part of any gain from the sale of your main home. Federal tax forms 2010 This means that, if you qualify, you will not have to pay tax on the gain up to the limit described under Maximum Exclusion , next. Federal tax forms 2010 To qualify, you must meet the ownership and use tests described later. Federal tax forms 2010 You can choose not to take the exclusion by including the gain from the sale in your gross income on your tax return for the year of the sale. Federal tax forms 2010 This choice can be made (or revoked) at any time before the expiration of a 3-year period beginning on the due date of your return (not including extensions) for the year of the sale. Federal tax forms 2010 You can use Worksheet 2 (near the end of this publication) to figure the amount of your exclusion and your taxable gain, if any. Federal tax forms 2010 If you have any taxable gain from the sale of your home, you may have to increase your withholding or make estimated tax payments. Federal tax forms 2010 See Publication 505, Tax Withholding and Estimated Tax. Federal tax forms 2010 Maximum Exclusion You can exclude up to $250,000 of the gain (other than gain allocated to periods of nonqualified use) on the sale of your main home if all of the following are true. Federal tax forms 2010 You meet the ownership test. Federal tax forms 2010 You meet the use test. Federal tax forms 2010 During the 2-year period ending on the date of the sale, you did not exclude gain from the sale of another home. Federal tax forms 2010 For details on gain allocated to periods of nonqualified use, see Nonqualified Use , later. Federal tax forms 2010 If you and another person owned the home jointly but file separate returns, each of you can exclude up to $250,000 of gain from the sale of your interest in the home if each of you meets the three conditions just listed. Federal tax forms 2010 You may be able to exclude up to $500,000 of the gain (other than gain allocated to periods of nonqualified use) on the sale of your main home if you are married and file a joint return and meet the requirements listed in the discussion of the special rules for joint returns, later, under Married Persons . Federal tax forms 2010 Ownership and Use Tests To claim the exclusion, you must meet the ownership and use tests. Federal tax forms 2010 This means that during the 5-year period ending on the date of the sale, you must have: Owned the home for at least 2 years (the ownership test), and Lived in the home as your main home for at least 2 years (the use test). Federal tax forms 2010 Exception. Federal tax forms 2010   If you owned and lived in the property as your main home for less than 2 years, you can still claim an exclusion in some cases. Federal tax forms 2010 However, the maximum amount you may be able to exclude will be reduced. Federal tax forms 2010 See Reduced Maximum Exclusion , later. Federal tax forms 2010 Example 1—home owned and occupied for at least 2 years. Federal tax forms 2010 Mya bought and moved into her main home in September 2011. Federal tax forms 2010 She sold the home at a gain in October 2013. Federal tax forms 2010 During the 5-year period ending on the date of sale in October 2013, she owned and lived in the home for more than 2 years. Federal tax forms 2010 She meets the ownership and use tests. Federal tax forms 2010 Example 2—ownership test met but use test not met. Federal tax forms 2010 Ayden bought a home, lived in it for 6 months, moved out, and never occupied the home again. Federal tax forms 2010 He later sold the home for a gain in June 2013. Federal tax forms 2010 He owned the home during the entire 5-year period ending on the date of sale. Federal tax forms 2010 He meets the ownership test but not the use test. Federal tax forms 2010 He cannot exclude any part of his gain on the sale unless he qualified for a reduced maximum exclusion (explained later). Federal tax forms 2010 Period of Ownership and Use The required 2 years of ownership and use during the 5-year period ending on the date of the sale do not have to be continuous nor do they both have to occur at the same time. Federal tax forms 2010 You meet the tests if you can show that you owned and lived in the property as your main home for either 24 full months or 730 days (365 × 2) during the 5-year period ending on the date of sale. Federal tax forms 2010 Example. Federal tax forms 2010 Naomi bought and moved into a house in July 2009. Federal tax forms 2010 She lived there for 13 months and then moved in with a friend. Federal tax forms 2010 She later moved back into her house and lived there for 12 months until she sold it in August 2013. Federal tax forms 2010 Naomi meets the ownership and use tests because, during the 5-year period ending on the date of sale, she owned the house for more than 2 years and lived in it for a total of 25 (13 + 12) months. Federal tax forms 2010 Temporary absence. Federal tax forms 2010   Short temporary absences for vacations or other seasonal absences, even if you rent out the property during the absences, are counted as periods of use. Federal tax forms 2010 The following examples assume that the reduced maximum exclusion (discussed later) does not apply to the sales. Federal tax forms 2010 Example 1. Federal tax forms 2010 David Johnson, who is single, bought and moved into his home on February 1, 2011. Federal tax forms 2010 Each year during 2011 and 2012, David left his home for a 2-month summer vacation. Federal tax forms 2010 David sold the house on March 1, 2013. Federal tax forms 2010 Although the total time David lived in his home is less than 2 years (21 months), he meets the use requirement and may exclude gain. Federal tax forms 2010 The 2-month vacations are short temporary absences and are counted as periods of use in determining whether David used the home for the required 2 years. Federal tax forms 2010 Example 2. Federal tax forms 2010 Professor Paul Beard, who is single, bought and moved into a house in December 2010, went abroad for a 1-year sabbatical leave in January 2012, returned to the house in January 2013, and sold it at a gain in February 2013. Federal tax forms 2010 Because his leave was not a short temporary absence, he cannot include the period of leave to meet the 2-year use test. Federal tax forms 2010 He cannot exclude any part of his gain because he did not use the residence for the required 2 years. Federal tax forms 2010 Ownership and use tests met at different times. Federal tax forms 2010   You can meet the ownership and use tests during different 2-year periods. Federal tax forms 2010 However, you must meet both tests during the 5-year period ending on the date of the sale. Federal tax forms 2010 Example. Federal tax forms 2010 Beginning in 2002, Helen Jones lived in a rented apartment. Federal tax forms 2010 The apartment building was later converted to condominiums, and she bought her same apartment on December 3, 2010. Federal tax forms 2010 In 2011, Helen became ill and on April 14 of that year she moved to her daughter's home. Federal tax forms 2010 On July 12, 2013, while still living in her daughter's home, she sold her condominium. Federal tax forms 2010 Helen can exclude gain on the sale of her condominium because she met the ownership and use tests during the 5-year period from July 13, 2008, to July 12, 2013, the date she sold the condominium. Federal tax forms 2010 She owned her condominium from December 3, 2010, to July 12, 2013 (more than 2 years). Federal tax forms 2010 She lived in the property from July 13, 2008 (the beginning of the 5-year period), to April 14, 2011 (more than 2 years). Federal tax forms 2010 The time Helen lived in her daughter's home during the 5-year period can be counted toward her period of ownership, and the time she lived in her rented apartment during the 5-year period can be counted toward her period of use. Federal tax forms 2010 Cooperative apartment. Federal tax forms 2010   If you sold stock as a tenant-shareholder in a cooperative housing corporation, the ownership and use tests are met if, during the 5-year period ending on the date of sale, you: Owned the stock for at least 2 years, and Lived in the house or apartment that the stock entitled you to occupy as your main home for at least 2 years. Federal tax forms 2010 Exceptions to Ownership and Use Tests The following sections contain exceptions to the ownership and use tests for certain taxpayers. Federal tax forms 2010 Exception for individuals with a disability. Federal tax forms 2010   There is an exception to the use test if: You become physically or mentally unable to care for yourself, and You owned and lived in your home as your main home for a total of at least 1 year during the 5-year period before the sale of your home. Federal tax forms 2010 Under this exception, you are considered to live in your home during any time within the 5-year period that you own the home and live in a facility (including a nursing home) licensed by a state or political subdivision to care for persons in your condition. Federal tax forms 2010   If you meet this exception to the use test, you still have to meet the 2-out-of-5-year ownership test to claim the exclusion. Federal tax forms 2010 Previous home destroyed or condemned. Federal tax forms 2010   For the ownership and use tests, you add the time you owned and lived in a previous home that was destroyed or condemned to the time you owned and lived in the replacement home on whose sale you wish to exclude gain. Federal tax forms 2010 This rule applies if any part of the basis of the home you sold depended on the basis of the destroyed or condemned home (see Involuntary Conversions in Publication 551). Federal tax forms 2010 Otherwise, you must have owned and lived in the same home for 2 of the 5 years before the sale to qualify for the exclusion. Federal tax forms 2010 Members of the uniformed services or Foreign Service, employees of the intelligence community, or employees or volunteers of the Peace Corps. Federal tax forms 2010   You can choose to have the 5-year test period for ownership and use suspended during any period you or your spouse serve on qualified official extended duty (defined later) as a member of the uniformed services or Foreign Service of the United States, or as an employee of the intelligence community. Federal tax forms 2010 You can choose to have the 5-year test period for ownership and use suspended during any period you or your spouse serve outside the United States either as an employee of the Peace Corps on qualified official extended duty (defined later) or as an enrolled volunteer or volunteer leader of the Peace Corps. Federal tax forms 2010 This means that you may be able to meet the 2-year use test even if, because of your service, you did not actually live in your home for at least the required 2 years during the 5-year period ending on the date of sale. Federal tax forms 2010   If this helps you qualify to exclude gain, you can choose to have the 5-year test period suspended by filing a return for the year of sale that does not include the gain. Federal tax forms 2010 Example. Federal tax forms 2010 John bought and moved into a home in 2005. Federal tax forms 2010 He lived in it as his main home for 2½ years. Federal tax forms 2010 For the next 6 years, he did not live in it because he was on qualified official extended duty with the Army. Federal tax forms 2010 He then sold the home at a gain in 2013. Federal tax forms 2010 To meet the use test, John chooses to suspend the 5-year test period for the 6 years he was on qualified official extended duty. Federal tax forms 2010 This means he can disregard those 6 years. Federal tax forms 2010 Therefore, John's 5-year test period consists of the 5 years before he went on qualified official extended duty. Federal tax forms 2010 He meets the ownership and use tests because he owned and lived in the home for 2½ years during this test period. Federal tax forms 2010 Period of suspension. Federal tax forms 2010   The period of suspension cannot last more than 10 years. Federal tax forms 2010 Together, the 10-year suspension period and the 5-year test period can be as long as, but no more than, 15 years. Federal tax forms 2010 You cannot suspend the 5-year period for more than one property at a time. Federal tax forms 2010 You can revoke your choice to suspend the 5-year period at any time. Federal tax forms 2010 Example. Federal tax forms 2010 Mary bought a home on April 1, 1997. Federal tax forms 2010 She used it as her main home until August 31, 2000. Federal tax forms 2010 On September 1, 2000, she went on qualified official extended duty with the Navy. Federal tax forms 2010 She did not live in the house again before selling it on July 31, 2013. Federal tax forms 2010 Mary chooses to use the entire 10-year suspension period. Federal tax forms 2010 Therefore, the suspension period would extend back from July 31, 2013, to August 1, 2003, and the 5-year test period would extend back to August 1, 1998. Federal tax forms 2010 During that period, Mary owned the house all 5 years and lived in it as her main home from August 1, 1998, until August 31, 2000, a period of more than 24 months. Federal tax forms 2010 She meets the ownership and use tests because she owned and lived in the home for at least 2 years during this test period. Federal tax forms 2010 Uniformed services. Federal tax forms 2010   The uniformed services are: The Armed Forces (the Army, Navy, Air Force, Marine Corps, and Coast Guard), The commissioned corps of the National Oceanic and Atmospheric Administration, and The commissioned corps of the Public Health Service. Federal tax forms 2010 Foreign Service member. Federal tax forms 2010   For purposes of the choice to suspend the 5-year test period for ownership and use, you are a member of the Foreign Service if you are any of the following. Federal tax forms 2010 A Chief of mission. Federal tax forms 2010 An Ambassador at large. Federal tax forms 2010 A member of the Senior Foreign Service. Federal tax forms 2010 A Foreign Service officer. Federal tax forms 2010 Part of the Foreign Service personnel. Federal tax forms 2010 Employee of the intelligence community. Federal tax forms 2010   For purposes of the choice to suspend the 5-year test period for ownership and use, you are an employee of the intelligence community if you are an employee of any of the following. Federal tax forms 2010 The Office of the Director of National Intelligence. Federal tax forms 2010 The Central Intelligence Agency. Federal tax forms 2010 The National Security Agency. Federal tax forms 2010 The Defense Intelligence Agency. Federal tax forms 2010 The National Geospatial-Intelligence Agency. Federal tax forms 2010 The National Reconnaissance Office and any other office within the Department of Defense for the collection of specialized national intelligence through reconnaissance programs. Federal tax forms 2010 Any of the intelligence elements of the Army, the Navy, the Air Force, the Marine Corps, the Federal Bureau of Investigation, the Department of Treasury, the Department of Energy, and the Coast Guard. Federal tax forms 2010 The Bureau of Intelligence and Research of the Department of State. Federal tax forms 2010 Any of the elements of the Department of Homeland Security concerned with the analyses of foreign intelligence information. Federal tax forms 2010 Qualified official extended duty. Federal tax forms 2010   You are on qualified official extended duty if you are on extended duty while: Serving at a duty station at least 50 miles from your main home, or Living in Government quarters under Government orders. Federal tax forms 2010   You are on extended duty when you are called or ordered to active duty for a period of more than 90 days or for an indefinite period. Federal tax forms 2010 Married Persons If you and your spouse file a joint return for the year of sale and one spouse meets the ownership and use tests, you can exclude up to $250,000 of the gain. Federal tax forms 2010 (But see Special rules for joint returns, next. Federal tax forms 2010 ) Special rules for joint returns. Federal tax forms 2010   You can exclude up to $500,000 of the gain on the sale of your main home if all of the following are true. Federal tax forms 2010 You are married and file a joint return for the year. Federal tax forms 2010 Either you or your spouse meets the ownership test. Federal tax forms 2010 Both you and your spouse meet the use test. Federal tax forms 2010 During the 2-year period ending on the date of the sale, neither you nor your spouse excluded gain from the sale of another home. Federal tax forms 2010 If either spouse does not satisfy all these requirements, the maximum exclusion that can be claimed by the couple is the total of the maximum exclusions that each spouse would qualify for if not married and the amounts were figured separately. Federal tax forms 2010 For this purpose, each spouse is treated as owning the property during the period that either spouse owned the property. Federal tax forms 2010 Example 1—one spouse sells a home. Federal tax forms 2010 Emily sells her home in June 2013 for a gain of $300,000. Federal tax forms 2010 She marries Jamie later in the year. Federal tax forms 2010 She meets the ownership and use tests, but Jamie does not. Federal tax forms 2010 Emily can exclude up to $250,000 of gain on a separate or joint return for 2013. Federal tax forms 2010 The $500,000 maximum exclusion for certain joint returns does not apply because Jamie does not meet the use test. Federal tax forms 2010 Example 2—each spouse sells a home. Federal tax forms 2010 The facts are the same as in Example 1 except that Jamie also sells a home in 2013 for a gain of $200,000 before he marries Emily. Federal tax forms 2010 He meets the ownership and use tests on his home, but Emily does not. Federal tax forms 2010 Emily can exclude $250,000 of gain and Jamie can exclude $200,000 of gain on the respective sales of their individual homes. Federal tax forms 2010 However, Emily cannot use Jamie's unused exclusion to exclude more than $250,000 of gain. Federal tax forms 2010 Therefore, Emily and Jamie must recognize $50,000 of gain on the sale of Emily's home. Federal tax forms 2010 The $500,000 maximum exclusion for certain joint returns does not apply because Emily and Jamie do not both meet the use test for the same home. Federal tax forms 2010 Sale of main home by surviving spouse. Federal tax forms 2010   If your spouse died and you did not remarry before the date of sale, you are considered to have owned and lived in the property as your main home during any period of time when your spouse owned and lived in it as a main home. Federal tax forms 2010   If you meet all of the following requirements, you may qualify to exclude up to $500,000 of any gain from the sale or exchange of your main home. Federal tax forms 2010 The sale or exchange took place after 2008. Federal tax forms 2010 The sale or exchange took place no more than 2 years after the date of death of your spouse. Federal tax forms 2010 You have not remarried. Federal tax forms 2010 You and your spouse met the use test at the time of your spouse's death. Federal tax forms 2010 You or your spouse met the ownership test at the time of your spouse's death. Federal tax forms 2010 Neither you nor your spouse excluded gain from the sale of another home during the last 2 years before the date of death. Federal tax forms 2010 The ownership and use tests were described earlier. Federal tax forms 2010 Example. Federal tax forms 2010 Harry owned and used a house as his main home since 2009. Federal tax forms 2010 Harry and Wilma married on July 1, 2013, and from that date they used Harry's house as their main home. Federal tax forms 2010 Harry died on August 15, 2013, and Wilma inherited the property. Federal tax forms 2010 Wilma sold the property on September 1, 2013, at which time she had not remarried. Federal tax forms 2010 Although Wilma owned and used the house for less than 2 years, Wilma is considered to have satisfied the ownership and use tests because her period of ownership and use includes the period that Harry owned and used the property before death. Federal tax forms 2010 Home transferred from spouse. Federal tax forms 2010   If your home was transferred to you by your spouse (or former spouse if the transfer was incident to divorce), you are considered to have owned it during any period of time when your spouse owned it. Federal tax forms 2010 Use of home after divorce. Federal tax forms 2010   You are considered to have used property as your main home during any period when: You owned it, and Your spouse or former spouse is allowed to live in it under a divorce or separation instrument and uses it as his or her main home. Federal tax forms 2010 Reduced Maximum Exclusion If you fail to meet the requirements to qualify for the $250,000 or $500,000 exclusion, you may still qualify for a reduced exclusion. Federal tax forms 2010 This applies to those who: Fail to meet the ownership and use tests, or Have used the exclusion within 2 years of selling their current home. Federal tax forms 2010 In both cases, to qualify for a reduced exclusion, the sale of your main home must be due to one of the following reasons. Federal tax forms 2010 A change in place of employment. Federal tax forms 2010 Health. Federal tax forms 2010 Unforeseen circumstances. Federal tax forms 2010 Qualified individual. Federal tax forms 2010   For purposes of the reduced maximum exclusion, a qualified individual is any of the following. Federal tax forms 2010 You. Federal tax forms 2010 Your spouse. Federal tax forms 2010 A co-owner of the home. Federal tax forms 2010 A person whose main home is the same as yours. Federal tax forms 2010 Primary reason for sale. Federal tax forms 2010   One of the three reasons above will be considered to be the primary reason you sold your home if either (1) or (2) is true. Federal tax forms 2010 You qualify under a “safe harbor. Federal tax forms 2010 ” This is a specific set of facts and circumstances that, if applicable, qualifies you to claim a reduced maximum exclusion. Federal tax forms 2010 Safe harbors corresponding to the reasons listed above are described later. Federal tax forms 2010 A safe harbor does not apply, but you can establish, based on facts and circumstances, that the primary reason for the sale is a change in place of employment, health, or unforeseen circumstances. Federal tax forms 2010  Factors that may be relevant in determining your primary reason for sale include whether: Your sale and the circumstances causing it were close in time, The circumstances causing your sale occurred during the time you owned and used the property as your main home, The circumstances causing your sale were not reasonably foreseeable when you began using the property as your main home, Your financial ability to maintain the property became materially impaired, The suitability of the property as your main home materially changed, and During the time you owned the property, you used it as your home. Federal tax forms 2010 Change in Place of Employment You may qualify for a reduced exclusion if the primary reason for the sale of your main home is a change in the location of employment of a qualified individual. Federal tax forms 2010 Employment. Federal tax forms 2010   For this purpose, employment includes the start of work with a new employer or continuation of work with the same employer. Federal tax forms 2010 It also includes the start or continuation of self-employment. Federal tax forms 2010 Distance safe harbor. Federal tax forms 2010   A change in place of employment is considered to be the reason you sold your home if: The change occurred during the period you owned and used the property as your main home, and The new place of employment is at least 50 miles farther from the home you sold than was the former place of employment (or, if there was no former place of employment, the distance between your new place of employment and the home sold is at least 50 miles). Federal tax forms 2010 Example. Federal tax forms 2010 Justin was unemployed and living in a townhouse in Florida he had owned and used as his main home since 2012. Federal tax forms 2010 He got a job in North Carolina and sold his townhouse in 2013. Federal tax forms 2010 Because the distance between Justin's new place of employment and the home he sold is at least 50 miles, the sale satisfies the conditions of the distance safe harbor. Federal tax forms 2010 Justin's sale of his home is considered to be because of a change in place of employment, and he is entitled to claim a reduced maximum exclusion of gain from the sale. Federal tax forms 2010 Health The sale of your main home is because of health if your primary reason for the sale is: To obtain, provide, or facilitate the diagnosis, cure, mitigation, or treatment of disease, illness, or injury of a qualified individual, or To obtain or provide medical or personal care for a qualified individual suffering from a disease, illness, or injury. Federal tax forms 2010 The sale of your home is not because of health if the sale merely benefits a qualified individual's general health or well-being. Federal tax forms 2010 For purposes of this reason, a qualified individual includes, in addition to the individuals listed earlier under Qualified individual , any of the following family members of these individuals. Federal tax forms 2010 Parent, grandparent, stepmother, stepfather. Federal tax forms 2010 Child, grandchild, stepchild, adopted child, eligible foster child. Federal tax forms 2010 Brother, sister, stepbrother, stepsister, half-brother, half-sister. Federal tax forms 2010 Mother-in-law, father-in-law, brother-in-law, sister-in-law, son-in-law, or daughter-in-law. Federal tax forms 2010 Uncle, aunt, nephew, niece, or cousin. Federal tax forms 2010 Example. Federal tax forms 2010 In 2012, Chase and Lauren, spouses, bought a house that they used as their main home. Federal tax forms 2010 Lauren's father has a chronic disease and is unable to care for himself. Federal tax forms 2010 In 2013, Chase and Lauren sold their home in order to move into Lauren's father's house to provide care for him. Federal tax forms 2010 Because the primary reason for the sale of their home was to provide care for Lauren's father, Chase and Lauren are entitled to a reduced maximum exclusion. Federal tax forms 2010 Doctor's recommendation safe harbor. Federal tax forms 2010   Health is considered to be the reason you sold your home if, for one or more of the reasons listed at the beginning of this discussion, a doctor recommends a change of residence. Federal tax forms 2010 Unforeseen Circumstances The sale of your main home is because of an unforeseen circumstance if your primary reason for the sale is the occurrence of an event that you could not reasonably have anticipated before buying and occupying that home. Federal tax forms 2010 You are not considered to have an unforeseen circumstance if the primary reason you sold your home was that you preferred to get a different home or because your finances improved. Federal tax forms 2010 Specific event safe harbors. Federal tax forms 2010   Unforeseen circumstances are considered to be the reason for selling your home if any of the following events occurred while you owned and used the property as your main home. Federal tax forms 2010 An involuntary conversion of your home, such as when your home is destroyed or condemned. Federal tax forms 2010 Natural or man-made disasters or acts of war or terrorism resulting in a casualty to your home, whether or not your loss is deductible. Federal tax forms 2010 In the case of qualified individuals (listed earlier under Qualified individual ): Death, Unemployment (if the individual is eligible for unemployment compensation), A change in employment or self-employment status that results in the individual's inability to pay reasonable basic living expenses (listed under Reasonable basic living expenses , later) for his or her household, Divorce or legal separation under a decree of divorce or separate maintenance, or Multiple births resulting from the same pregnancy. Federal tax forms 2010 An event the IRS determined to be an unforeseen circumstance in published guidance of general applicability. Federal tax forms 2010 For example, the IRS determined the September 11, 2001, terrorist attacks to be an unforeseen circumstance. Federal tax forms 2010 Reasonable basic living expenses. Federal tax forms 2010   Reasonable basic living expenses for your household include the following. Federal tax forms 2010 Amounts spent for food. Federal tax forms 2010 Amounts spent for clothing. Federal tax forms 2010 Housing and related expenses. Federal tax forms 2010 Medical expenses. Federal tax forms 2010 Transportation expenses. Federal tax forms 2010 Tax payments. Federal tax forms 2010 Court-ordered payments. Federal tax forms 2010 Expenses reasonably necessary to produce income. Federal tax forms 2010   Any of these amounts spent to maintain an affluent or luxurious standard of living are not reasonable basic living expenses. Federal tax forms 2010 Nonqualified Use Gain from the sale or exchange of the main home is not excludable from income if it is allocable to periods of nonqualified use. Federal tax forms 2010 Nonqualified use means any period after 2008 where neither you nor your spouse (or your former spouse) used the property as a main home, with certain exceptions (see next). Federal tax forms 2010 Exceptions. Federal tax forms 2010   A period of nonqualified use does not include: Any portion of the 5-year period ending on the date of the sale or exchange after the last date you (or your spouse) use the property as a main home; Any period (not to exceed an aggregate period of 10 years) during which you (or your spouse) are serving on qualified official extended duty: As a member of the uniformed services; As a member of the Foreign Service of the United States; or As an employee of the intelligence community; and Any other period of temporary absence (not to exceed an aggregate period of 2 years) due to change of employment, health conditions, or such other unforeseen circumstances as may be specified by the IRS. Federal tax forms 2010 Calculation. Federal tax forms 2010   To figure the portion of the gain allocated to the period of nonqualified use, multiply the gain (net of any depreciation allowed or allowable on the property for periods after May 6, 1997) by the following fraction:   Total nonqualified use during the period of ownership after 2008     Total period of ownership     This calculation can be found in Worksheet 2, line 10, later in this publication. Federal tax forms 2010   For examples of this calculation, see Business Use or Rental of Home , next. Federal tax forms 2010 Business Use or Rental of Home You may be able to exclude gain from the sale of a home you have used for business or to produce rental income if you meet the ownership and use tests. Federal tax forms 2010 Example 1. Federal tax forms 2010 On May 23, 2007, Amy, who is unmarried for all years in this example, bought a house. Federal tax forms 2010 She moved in on that date and lived in it until May 31, 2009, when she moved out of the house and put it up for rent. Federal tax forms 2010 The house was rented from June 1, 2009, to March 31, 2011. Federal tax forms 2010 Amy claimed depreciation deductions in 2009 through 2011 totaling $10,000. Federal tax forms 2010 Amy moved back into the house on April 1, 2011, and lived there until she sold it on January 31, 2013, for a gain of $200,000. Federal tax forms 2010 During the 5-year period ending on the date of the sale (January 31, 2008–January 31, 2013), Amy owned and lived in the house for more than 2 years as shown in the following table. Federal tax forms 2010 Five-Year Period Used as Home Used as Rental 1/31/08 – 5/31/09 16 months   6/01/09 – 3/31/11   22 months 4/01/11 – 1/31/13 22 months     38 months 22 months       During the period Amy owned the house (2,080 days), her period of nonqualified use was 668 days. Federal tax forms 2010 Because the gain attributable to periods of nonqualified use is $60,990, Amy can exclude $129,010 of her gain, as shown on Worksheet 2. Federal tax forms 2010 Example 2. Federal tax forms 2010 William owned and used a house as his main home from 2007 through 2010. Federal tax forms 2010 On January 1, 2011, he moved to another state. Federal tax forms 2010 He rented his house from that date until April 30, 2013, when he sold it. Federal tax forms 2010 During the 5-year period ending on the date of sale (May 1, 2008-April 30, 2013), William owned and lived in the house for more than 2 years. Federal tax forms 2010 Because it was rental property at the time of the sale, he must report the sale on Form 4797. Federal tax forms 2010 Because the period of nonqualified use does not include any part of the 5-year period after the last date William lived in the house, he has no period of nonqualified use. Federal tax forms 2010 Because he met the ownership and use tests, he can exclude gain up to $250,000. Federal tax forms 2010 However, he cannot exclude the part of the gain equal to the depreciation he claimed or could have claimed for renting the house, as explained next. Federal tax forms 2010 Depreciation after May 6, 1997. Federal tax forms 2010   If you were entitled to take depreciation deductions because you used your home for business purposes or as rental property, you cannot exclude the part of your gain equal to any depreciation allowed or allowable as a deduction for periods after May 6, 1997. Federal tax forms 2010 If you can show by adequate records or other evidence that the depreciation allowed was less than the amount allowable, then you may limit the amount of gain recognized to the depreciation allowed. Federal tax forms 2010 Unrecaptured section 1250 gain. Federal tax forms 2010   This is the part of any long-term capital gain from the sale of your home that is due to depreciation and cannot be excluded. Federal tax forms 2010 To figure the amount of unrecaptured section 1250 gain to be reported on Schedule D (Form 1040), you must also take into account certain gains or losses from the sale of property other than your home. Federal tax forms 2010 Use the Unrecaptured Section 1250 Gain Worksheet in the Schedule D instructions for this purpose. Federal tax forms 2010 Worksheet 2. Federal tax forms 2010 Taxable Gain on Sale of Home—Completed Example 1 for Amy Part 1. Federal tax forms 2010 Gain or (Loss) on Sale       1. Federal tax forms 2010   Selling price of home 1. Federal tax forms 2010     2. Federal tax forms 2010   Selling expenses (including commissions, advertising and legal fees, and seller-paid loan charges) 2. Federal tax forms 2010     3. Federal tax forms 2010   Subtract line 2 from line 1. Federal tax forms 2010 This is the amount realized 3. Federal tax forms 2010     4. Federal tax forms 2010   Adjusted basis of home sold (from Worksheet 1, line 13) 4. Federal tax forms 2010     5. Federal tax forms 2010   Gain or (loss) on the sale. Federal tax forms 2010 Subtract line 4 from line 3. Federal tax forms 2010 If this is a loss, stop here 5. Federal tax forms 2010 200,000   Part 2. Federal tax forms 2010 Exclusion and Taxable Gain       6. Federal tax forms 2010   Enter any depreciation allowed or allowable on the property for periods after May 6, 1997. Federal tax forms 2010 If none, enter -0- 6. Federal tax forms 2010 10,000   7. Federal tax forms 2010   Subtract line 6 from line 5. Federal tax forms 2010 If the result is less than zero, enter -0- 7. Federal tax forms 2010 190,000   8. Federal tax forms 2010   Aggregate number of days of nonqualified use after 2008. Federal tax forms 2010 If none, enter -0-. Federal tax forms 2010  If line 8 is equal to zero, skip to line 12 and enter the amount from line 7 on line 12 8. Federal tax forms 2010 668   9. Federal tax forms 2010   Number of days taxpayer owned the property 9. Federal tax forms 2010 2,080   10. Federal tax forms 2010   Divide the amount on line 8 by the amount on line 9. Federal tax forms 2010 Enter the result as a decimal (rounded to at least 3 places). Federal tax forms 2010 But do not enter an amount greater than 1. Federal tax forms 2010 00 10. Federal tax forms 2010 0. Federal tax forms 2010 321   11. Federal tax forms 2010   Gain allocated to nonqualified use. Federal tax forms 2010 (Line 7 multiplied by line 10) 11. Federal tax forms 2010 60,990   12. Federal tax forms 2010   Gain eligible for exclusion. Federal tax forms 2010 Subtract line 11 from line 7 12. Federal tax forms 2010 129,010   13. Federal tax forms 2010   If you qualify to exclude gain on the sale, enter your maximum exclusion (see Maximum Exclusion ). Federal tax forms 2010  If you qualify for a reduced maximum exclusion, enter the amount from Worksheet 3, line 7. Federal tax forms 2010 If you do  not qualify to exclude gain, enter -0- 13. Federal tax forms 2010 250,000   14. Federal tax forms 2010   Exclusion. Federal tax forms 2010 Enter the smaller of line 12 or line 13 14. Federal tax forms 2010 129,010   15. Federal tax forms 2010   Taxable gain. Federal tax forms 2010 Subtract line 14 from line 5. Federal tax forms 2010 Report your taxable gain as described under Reporting the Sale . Federal tax forms 2010 If the amount on line 6 is more than zero, complete line 16 15. Federal tax forms 2010 70,990   16. Federal tax forms 2010   Enter the smaller of line 6 or line 15. Federal tax forms 2010 Enter this amount on line 12 of the Unrecaptured Section 1250 Gain  Worksheet in the instructions for Schedule D (Form 1040) 16. Federal tax forms 2010 10,000 Property Used Partly for Business or Rental If you use property partly as a home and partly for business or to produce rental income, the treatment of any gain on the sale depends partly on whether the business or rental part of the property is part of your home or separate from it. Federal tax forms 2010 Part of Home Used for Business or Rental If the part of your property used for business or to produce rental income is within your home, such as a room used as a home office for a business, you do not need to allocate gain on the sale of the property between the business part of the property and the part used as a home. Federal tax forms 2010 In addition, you do not need to report the sale of the business or rental part on Form 4797. Federal tax forms 2010 This is true whether or not you were entitled to claim any depreciation. Federal tax forms 2010 However, you cannot exclude the part of any gain equal to any depreciation allowed or allowable after May 6, 1997. Federal tax forms 2010 See Depreciation after May 6, 1997, earlier. Federal tax forms 2010 Example 1. Federal tax forms 2010 Ray sold his main home in 2013 at a $30,000 gain. Federal tax forms 2010 He has no gains or losses from the sale of property other than the gain from the sale of his home. Federal tax forms 2010 He meets the ownership and use tests to exclude the gain from his income. Federal tax forms 2010 However, he used part of the home as a business office in 2012 and claimed $500 depreciation. Federal tax forms 2010 Because the business office was part of his home (not separate from it), he does not have to allocate the gain on the sale between the business part of the property and the part used as a home. Federal tax forms 2010 In addition, he does not have to report any part of the gain on Form 4797. Federal tax forms 2010 Because Ray was entitled to take a depreciation deduction, he must recognize $500 of the gain as unrecaptured section 1250 gain. Federal tax forms 2010 He reports his gain, exclusion, and the taxable gain of $500 on Form 8949 and Schedule D (Form 1040). Federal tax forms 2010 Example 2. Federal tax forms 2010 The facts are the same as in Example 1 except that Ray was not entitled to claim depreciation for the business use of his home. Federal tax forms 2010 Since Ray did not claim any depreciation, he can exclude the entire $30,000 gain. Federal tax forms 2010 Separate Part of Property Used for Business or Rental You may have used part of your property as your home and a separate part of it for business or to produce rental income. Federal tax forms 2010 Examples are: A working farm on which your house was located, A duplex in w
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The International Tax Gap

Find resources on this page pertaining to the international tax gap — the difference between the amount of tax that taxpayers should pay and the amount that is paid voluntarily and on time. The tax gap can also be thought of as the sum of non-compliance with the tax law.

International Tax Gap Series

December 2009 Filing Extensions and Tax Return Preparation Assistance for Military Personnel Stationed Abroad or In a Combat Zone
August 2009

Self-Employment Tax for Businesses Abroad

June 2009 U.S. Citizens Performing Services in Foreign and International Airspace
May 2009 Departing Aliens and the Sailing Permit
April 2009 Reaching Out to Americans Abroad
February 2009 Taxation of Nonresident Aliens

January 2009

Foreign Housing Exclusion or Deduction

December 2008

Gifts from Foreign Persons

November 2008

Tax Treaties Can Affect Your Income Tax

October 2008

Taxation of International Pensions and Annuities

September 2008

U.S. Tax Withholding on Effectively Connected Income Allocable to Foreign Partners

August 2008

Foreign Trust Reporting Requirements

July 2008

Withholding of Tax on Dispositions of U.S. Real Property Interests

June 2008

Foreign Tax Credit

May 2008

Foreign Earned Income Exclusion

April 2008

Moving To or From a United States (U.S.) Territory/Possession

March 2008

U.S. Tax Withholding on Payments to Foreign Persons

February 2008

The Tax Gap and International Taxpayers - Filing Requirements


The Tax Gap - News, facts, figures and a fact sheet series on the tax gap in general.
Page Last Reviewed or Updated: 13-Mar-2014

The Federal Tax Forms 2010

Federal tax forms 2010 12. Federal tax forms 2010   Otros Ingresos Table of Contents Introduction Useful Items - You may want to see: Trueque Deudas CanceladasIntereses incluidos en una deuda cancelada. Federal tax forms 2010 Excepciones Anfitrión o Anfitriona Ganancias de un Seguro de VidaCónyuge sobreviviente. Federal tax forms 2010 Ganancias de un Contrato de Dotación Beneficios Acelerados por Fallecimiento Funcionario de Seguridad Pública Fallecido en el Cumplimiento del Deber Ingresos de Sociedades Colectivas Ingresos de Sociedad Anónima de Tipo S Recuperación de FondosRecuperaciones de Deducciones Detalladas Alquileres de Bienes Muebles ReintegrosMétodo 1. Federal tax forms 2010 Método 2. Federal tax forms 2010 RegalíasAgotamiento. Federal tax forms 2010 Carbón y mineral de hierro. Federal tax forms 2010 Venta de participación de bienes. Federal tax forms 2010 Parte de una futura producción vendida. Federal tax forms 2010 Beneficios por DesempleoTipos de compensación por desempleo. Federal tax forms 2010 Programa gubernamental. Federal tax forms 2010 Reintegro de compensación por desempleo. Federal tax forms 2010 Retención de impuestos. Federal tax forms 2010 Reintegro de beneficios. Federal tax forms 2010 Beneficios del Bienestar Social y Otros Beneficios de Asistencia Pública Otros IngresosAngustia emocional. Federal tax forms 2010 Deducción por costos relativos a una demanda por discriminación ilegal. Federal tax forms 2010 Medidas de ahorro de energía. Federal tax forms 2010 Unidad habitable. Federal tax forms 2010 Ingreso actual que se requiere distribuir. Federal tax forms 2010 Ingreso actual que no se requiere distribuir. Federal tax forms 2010 Cómo hacer la declaración. Federal tax forms 2010 Pérdidas. Federal tax forms 2010 Fideicomiso de un cesionario. Federal tax forms 2010 Remuneración para personas que no son empleados. Federal tax forms 2010 Director de una sociedad anónima. Federal tax forms 2010 Representante personal. Federal tax forms 2010 Administrador de una ocupación o negocio de patrimonio en quiebra. Federal tax forms 2010 Notario público. Federal tax forms 2010 Funcionario de distrito electoral. Federal tax forms 2010 Pagos por complejidad del cuidado. Federal tax forms 2010 Mantenimiento del espacio en el hogar. Federal tax forms 2010 Declaración de pagos sujetos a impuestos. Federal tax forms 2010 Loterías y rifas. Federal tax forms 2010 Formulario W-2G. Federal tax forms 2010 Cómo declarar ganancias de juegos y apuestas y mantenimiento de documentación. Federal tax forms 2010 Pensión o arreglo IRA heredado. Federal tax forms 2010 Recompensas o bonificaciones para empleados. Federal tax forms 2010 Premio Pulitzer, Premio Nobel y premios similares. Federal tax forms 2010 Pago por servicios. Federal tax forms 2010 Pagos del Departamento de Asuntos de Veteranos (VA). Federal tax forms 2010 Premios. Federal tax forms 2010 Indemnización por huelga y cierre patronal. Federal tax forms 2010 Introduction Tiene que incluir en su declaración toda partida de ingresos que reciba en forma de dinero, bienes o servicios a menos que la ley tributaria estipule lo contrario. Federal tax forms 2010 No obstante, algunos artículos se excluyen sólo parcialmente de los ingresos. Federal tax forms 2010 Este capítulo trata sobre varios tipos de ingresos y explica si éstos están sujetos a impuestos o no. Federal tax forms 2010 El ingreso que según la ley tributaria está sujeto a la tasasión de impuestos tiene que declararse en la declaración de impuestos y está sujeto a impuestos. Federal tax forms 2010 El ingreso que no está sujeto a la tasación de impuestos tal vez tenga que aparecer en la declaración de impuestos, pero no está sujeto a impuestos. Federal tax forms 2010 Este capítulo empieza con una explicación de las siguientes fuentes de ingreso: Trueque. Federal tax forms 2010 Deudas canceladas. Federal tax forms 2010 Fiestas de ventas en las que usted es anfitrión o anfitriona. Federal tax forms 2010 Fondos procedentes del seguro de vida. Federal tax forms 2010 Ingresos de sociedades colectivas. Federal tax forms 2010 Ingresos de sociedades anónimas de tipo S. Federal tax forms 2010 Recuperaciones de fondos (incluidos los reembolsos de impuesto estatal sobre los ingresos). Federal tax forms 2010 Alquileres de bienes muebles. Federal tax forms 2010 Reintegros. Federal tax forms 2010 Regalías. Federal tax forms 2010 Beneficios por desempleo. Federal tax forms 2010 Beneficios del bienestar social y otros beneficios de asistencia pública. Federal tax forms 2010 A continuación de estos temas, encontrará una lista de otras fuentes de ingreso. Federal tax forms 2010 Useful Items - You may want to see: Publicación 525 Taxable and Nontaxable Income (Ingreso sujeto a impuestos y no sujeto a impuestos), en inglés 544 Sales and Other Dispositions of Assets (Ventas y otras enajenaciones de activos), en inglés 4681 Canceled Debts, Foreclosures, Repossessions, and Abandonments (Deudas canceladas, ejecuciones hipotecarias, embargo de bienes raíces y abandonos), en inglés Trueque El trueque es un intercambio de bienes o servicios. Federal tax forms 2010 Tiene que incluir en sus ingresos el valor justo de mercado de aquellos bienes o servicios que reciba por trueque al momento de recibirlos. Federal tax forms 2010 Si intercambia servicios con otra persona y ambos han llegado a un acuerdo con anticipación con respecto al valor de los servicios, ese valor se aceptará como el valor justo de mercado, a menos que se pueda demostrar que el valor es diferente. Federal tax forms 2010 Por lo general, debe declarar este ingreso en el Anexo C (Formulario 1040), Profit or Loss From Business (Pérdidas o ganancias de negocios), o en el Anexo C-EZ (Formulario 1040), Net Profit From Business (Utilidad neta de negocios), ambos en inglés. Federal tax forms 2010 Sin embargo, si el trueque implica un intercambio de algo que no sea servicios, como se indica en el Ejemplo 3 a continuación, tal vez deba usar otro formulario o anexo en su lugar. Federal tax forms 2010 Ejemplo 1. Federal tax forms 2010 Usted es abogado por cuenta propia que presta servicios legales a un cliente, una sociedad anónima pequeña. Federal tax forms 2010 Esta sociedad anónima le paga con acciones a cambio de sus servicios. Federal tax forms 2010 Tiene que incluir en sus ingresos el valor justo de mercado de las acciones en el Anexo C o en el Anexo C-EZ (Formulario 1040) en el año en que las reciba. Federal tax forms 2010 Ejemplo 2. Federal tax forms 2010 Usted trabaja por cuenta propia y es miembro de un club de trueque. Federal tax forms 2010 El club usa “unidades de crédito” como medio de intercambio. Federal tax forms 2010 El club suma unidades de crédito a su cuenta por los bienes o servicios que proporciona a otros miembros, las cuales usted puede usar para comprar bienes o servicios que ofrecen otros miembros del club de trueque. Federal tax forms 2010 El club resta unidades de crédito de su cuenta cuando usted recibe bienes o servicios de otros miembros. Federal tax forms 2010 Tiene que incluir en su ingreso el valor de las unidades de crédito que se suman a su cuenta, aun si en realidad no recibe bienes o servicios de otros miembros del club hasta un año tributario futuro. Federal tax forms 2010 Ejemplo 3. Federal tax forms 2010 Usted es propietario de un pequeño edificio de apartamentos. Federal tax forms 2010 A cambio del uso de un apartamento durante 6 meses sin pagar alquiler, una artista le da una obra que ella misma creó. Federal tax forms 2010 Tiene que declarar como ingreso de alquiler en el Anexo E (Formulario 1040), Supplemental Income and Loss (Pérdidas e ingresos suplementarios), en inglés, el valor justo de mercado de la obra de arte y la artista tiene que declarar como ingreso el valor justo de alquiler del apartamento en el Anexo C o en el Anexo C-EZ (Formulario 1040). Federal tax forms 2010 Formulario 1099-B por trueque. Federal tax forms 2010   Si ha intercambiado bienes o servicios mediante una organización de trueques, dicha organización le debe enviar el Formulario 1099-B, Proceeds From Broker and Barter Exchange Transactions (Ingresos por transacciones de agentes de bolsa y trueque), en inglés, o una declaración de la organización de trueques parecida, a más tardar el 18 de febrero del año 2014. Federal tax forms 2010 Este documento debe indicar el valor de efectivo, bienes, servicios, créditos o certificado provisional que recibió como resultado de los trueques durante el año 2013. Federal tax forms 2010 El IRS también recibirá una copia del Formulario 1099-B. Federal tax forms 2010 Deudas Canceladas En la mayoría de los casos, si una deuda suya se cancela o condona, salvo si es por regalo o legado testamentario, tiene que incluir en su ingreso la cantidad cancelada. Federal tax forms 2010 No recibe ningún ingreso de la deuda cancelada si se le dio como regalo. Federal tax forms 2010 Una deuda incluye toda deuda de la cual sea responsable o que se relacione con bienes suyos. Federal tax forms 2010 Si la deuda no es comercial, declare la cantidad cancelada en la línea 21 del Formulario 1040. Federal tax forms 2010 Si es una deuda comercial, declare la cantidad en el Anexo C (Formulario 1040) o en el Anexo C-EZ (Formulario 1040) (o en el Anexo F (Formulario 1040), Profit or Loss From Farming (Pérdidas o ganancias por actividades agrícolas), en inglés, si la deuda es una deuda agrícola y usted es granjero). Federal tax forms 2010 Formulario 1099-C. Federal tax forms 2010   Si tiene una deuda de $600 o más y una agencia del gobierno federal, institución financiera o cooperativa de crédito la cancela o la condona, usted recibirá el Formulario 1099-C, Cancellation of Debt (Cancelación de la deuda), en inglés. Federal tax forms 2010 La cantidad de la deuda cancelada aparece en el recuadro 2. Federal tax forms 2010 Intereses incluidos en una deuda cancelada. Federal tax forms 2010   Si el pago de algunos intereses se condona y se suma a la cantidad de deuda cancelada en el recuadro 2, la cantidad de intereses también aparecerá en el recuadro 3. Federal tax forms 2010 El tener que incluir la parte de los intereses de la deuda cancelada en su ingreso depende de si los intereses serían deducibles cuando usted los pagó. Federal tax forms 2010 Consulte Deuda deducible más adelante, bajo Excepciones . Federal tax forms 2010   Si los intereses no se pueden deducir (por ejemplo, interés sobre un préstamo personal), incluya en sus ingresos la cantidad del recuadro 2 del Formulario 1099-C. Federal tax forms 2010 Si los intereses sí se pueden deducir (por ejemplo, intereses sobre un préstamo comercial), incluya en sus ingresos la cantidad neta de la deuda cancelada (la cantidad que aparece en el recuadro 2 menos la cantidad de intereses que aparece en el recuadro 3). Federal tax forms 2010 Préstamo hipotecario con descuento. Federal tax forms 2010   Si su institución financiera ofrece un descuento por el pago anticipado de su préstamo hipotecario, la cantidad del descuento se considera deuda cancelada. Federal tax forms 2010 Tiene que incluir la cantidad cancelada en sus ingresos. Federal tax forms 2010 Exoneración del pago hipotecario al momento de la venta u otra enajenación. Federal tax forms 2010   Si es personalmente responsable del pago de una hipoteca (deuda con recurso) y queda exonerado del pago de la hipoteca al enajenar la propiedad, puede obtener una pérdida o ganancia hasta el valor justo de mercado de la propiedad. Federal tax forms 2010 A medida que la eliminación de la hipoteca sobrepase el valor justo de mercado de la propiedad, se considerará ingreso proveniente de la eliminación de deudas a menos que reúna los requisitos para ser excluida, los cuales se indican en el tema titulado Deuda excluida , más adelante. Federal tax forms 2010 Declare todo ingreso proveniente de la eliminación de deudas no comerciales que no reúna los requisitos para ser excluido como otros ingresos en la línea 21 del Formulario 1040. Federal tax forms 2010    Quizás pueda excluir una parte de la exoneración del pago hipotecario sobre su residencia principal. Federal tax forms 2010 Vea Deuda excluida , más adelante. Federal tax forms 2010   Si no es personalmente responsable del pago de una hipoteca (deuda sin recurso) y queda exonerado del pago de la hipoteca al enajenar la propiedad (por ejemplo, a través de una ejecución hipotecaria), esa exoneración se incluye en la cantidad que usted realiza. Federal tax forms 2010 Es posible que tenga una ganancia sujeta a impuestos si la cantidad que usted obtiene excede de la base ajustada de la propiedad. Federal tax forms 2010 Declare toda ganancia sobre propiedad no comercial como ganancia de capital. Federal tax forms 2010   Vea la Publicación 4681, Canceled Debts, Foreclosures, Repossessions, and Abandonments (Deudas canceladas, ejecuciones hipotecarias, embargo de bienes raíces y abandonos), en inglés, para más información. Federal tax forms 2010 Deuda de accionistas. Federal tax forms 2010   Si es accionista de una sociedad anónima y ésta cancela o condona su deuda con ella, la deuda cancelada se considera una distribución implícita que generalmente es ingreso de dividendos para usted. Federal tax forms 2010 Para más información, vea la Publicación 542, Corporations (Sociedades anónimas), en inglés. Federal tax forms 2010   Si es accionista de una sociedad anónima y cancela una deuda que a usted le debe la sociedad anónima, generalmente no recibe (realiza) ingreso. Federal tax forms 2010 Esto se debe a que la deuda cancelada se considera una aportación al capital de la sociedad anónima por un monto equivalente a la cantidad del capital de la deuda que usted canceló. Federal tax forms 2010 Reintegro de deuda cancelada. Federal tax forms 2010   Si incluye una cantidad cancelada en sus ingresos y luego paga el saldo adeudado, posiblemente pueda solicitar un reembolso para el año en que dicha cantidad se incluyó en los ingresos. Federal tax forms 2010 Puede solicitar un reembolso en el Formulario 1040X, Amended U. Federal tax forms 2010 S. Federal tax forms 2010 Individual Income Tax Return (Declaración enmendada del impuesto estadounidense sobre los ingresos personales), en inglés, si la ley de prescripción para solicitar reembolsos está vigente. Federal tax forms 2010 Generalmente, el plazo de prescripción no vence sino hasta 3 años después de la fecha de vencimiento de la declaración original. Federal tax forms 2010 Excepciones Existen varias excepciones a la inclusión de deuda cancelada en los ingresos. Federal tax forms 2010 Éstas se explican a continuación. Federal tax forms 2010 Préstamos para estudiantes. Federal tax forms 2010   Ciertos préstamos para estudiantes incluyen una disposición que establece que se cancelará la totalidad o parte de la deuda en la que se ha incurrido por asistir a la institución educativa calificada a condición de que usted trabaje durante determinado período de tiempo en ciertas profesiones con una amplia gama de empleadores. Federal tax forms 2010   No se considera que tiene ingresos si su préstamo para estudiantes se cancela después de que haya aceptado esta disposición y prestado los servicios requeridos. Federal tax forms 2010 Para satisfacer las condiciones, el préstamo tiene que haber sido otorgado por: El gobierno federal, un gobierno estatal o local, o una agencia, organismo o subdivisión de éstos; Una sociedad anónima de beneficios públicos exenta de impuestos que haya asumido el control de un hospital estatal, de condado o municipal y cuyos empleados se consideren empleados públicos según la ley estatal o Una institución de enseñanza superior: Según un acuerdo firmado con una entidad descrita en los puntos (1) o (2) que proporcionó fondos a la institución para otorgar el préstamo o Como parte de un programa de la institución designada para motivar a sus estudiantes a desempeñar ocupaciones con necesidades subatendidas y bajo el cual los servicios se prestan por los estudiantes ( o ex estudiantes) para o bajo la dirección de una entidad gubernamental o una organización que no está sujeta a impuestos tal conforme a la sección 501(c)(3). Federal tax forms 2010   Un préstamo para refinanciar un préstamo para estudiantes calificado también reunirá los requisitos si lo otorga una institución de enseñanza superior o una organización exenta de impuestos que reúne los requisitos dentro de un programa diseñado conforme al punto (3)(b) anterior. Federal tax forms 2010 Asistencia para el reintegro de préstamos de estudios. Federal tax forms 2010   No están sujetos a impuestos los reintegros de préstamos de estudios otorgados por el National Health Service Corps Loan Repayment Program (Programa de Reintegro de Préstamos del Cuerpo Nacional de Servicios de Salud (NHSC, por sus siglas en inglés)) por un programa estatal de reintegro de préstamos de estudios que reúna los requisitos para recibir fondos conforme a la Public Health Service Act (Ley sobre el Servicio de Salud Pública) o por cualquier otro programa estatal para el reintegro de préstamos o la condonación de préstamos si dicho programa está destinado a aumentar la disponibilidad de servicios de salud en zonas subatendidas o que carecen de profesionales de salud. Federal tax forms 2010    La disposición relacionada con “cualquier otro programa estatal para el reintegro de préstamos o la condonación de préstamos” se agregó a la exclusión de fondos de préstamo recibidos en años tributarios que hayan comenzado después del 31 de diciembre de 2008. Federal tax forms 2010 Si incluyó estos fondos en los ingresos del año 2010, 2011 ó 2012, debe presentar una declaración de impuestos enmendada para excluir dichos ingresos. Federal tax forms 2010 Vea el Formulario 1040X y sus Instrucciones para más detalles sobre cómo presentarlo. Federal tax forms 2010 Deuda deducible. Federal tax forms 2010   No tiene ingreso de la cancelación de una deuda si se puede deducir el pago de la deuda. Federal tax forms 2010 Esta excepción se aplica sólo si se usa el método contable a base de efectivo. Federal tax forms 2010 Para obtener más información, consulte el capítulo 5 de la Publicación 334, Tax Guide For Small Business (Guía tributaria para pequeños negocios), en inglés. Federal tax forms 2010 Precio reducido después de la compra. Federal tax forms 2010   En la mayoría de los casos, si el vendedor reduce la cantidad que usted adeuda por bienes que usted compró, no tiene ingreso resultante de la reducción. Federal tax forms 2010 La reducción de la deuda se trata como un ajuste al precio de compra y reduce su base en los bienes. Federal tax forms 2010 Deuda excluida. Federal tax forms 2010   No incluya en su ingreso bruto una deuda cancelada en las siguientes situaciones: La deuda se cancela en un caso de bancarrota conforme al Título 11 del Código de los Estados Unidos. Federal tax forms 2010 Consulte la Publicación 908, Bankruptcy Tax Guide (Guía tributaria sobre bancarrotas), en inglés. Federal tax forms 2010 La deuda se cancela cuando usted es clasificado como insolvente. Federal tax forms 2010 Sin embargo, no puede excluir cantidad alguna de la deuda cancelada que sea mayor que la cantidad que lo clasifica como insolvente. Federal tax forms 2010 Consulte la Publicación 908, en inglés. Federal tax forms 2010 La deuda es una deuda agrícola calificada y la cancela una persona calificada. Federal tax forms 2010 Consulte el capítulo 3 de la Publicación 225, Farmer's Tax Guide (Guía tributaria para agricultores), en inglés. Federal tax forms 2010 La deuda es una deuda comercial de bienes raíces calificada. Federal tax forms 2010 Consulte el capítulo 5 de la Publicación 334, en inglés. Federal tax forms 2010 La cancelación es un regalo (donación). Federal tax forms 2010 La deuda es una deuda calificada sobre la residencia principal. Federal tax forms 2010 Para más información, vea la Publicación 525, en inglés. Federal tax forms 2010 Anfitrión o Anfitriona Si usted es anfitrión de una fiesta o evento donde se hacen ventas, todo regalo o propina que reciba por organizar el evento se considera un pago por ayudar a un vendedor directo a hacer ventas. Federal tax forms 2010 Tiene que declarar dicho regalo o propina como ingresos al valor justo de mercado. Federal tax forms 2010 Los gastos de bolsillo relacionados con la fiesta están sujetos al límite del 50% correspondiente a gastos de comida y entretenimiento. Federal tax forms 2010 Dichos gastos son deducibles como deducciones detalladas misceláneas sujetos al límite del 2% del ingreso bruto ajustado (AGI, por sus siglas en inglés) en el Anexo A (Formulario 1040), pero solamente hasta el monto del ingreso que usted reciba por organizar la fiesta. Federal tax forms 2010 Para más información sobre el límite del 50% para gastos de comida y entretenimiento, vea el capítulo 26 . Federal tax forms 2010 Ganancias de un Seguro de Vida Las ganancias de un seguro de vida que recibe debido a la muerte del asegurado no están sujetas a impuestos, a menos que la póliza se le haya cedido a usted a cambio de un precio. Federal tax forms 2010 Esto es aplicable aun si los pagos se efectuaron conforme a una póliza de seguro médico o de accidente o un contrato de dotación. Federal tax forms 2010 Sin embargo, podrían estar sujetos a impuestos los ingresos de intereses recibidos como parte de un pago de ganancias de seguro de vida. Federal tax forms 2010 Pagos no recibidos a plazos. Federal tax forms 2010   Si recibe beneficios por fallecimiento en una suma global o de otro modo que no sea a intervalos regulares, incluya en su ingreso sólo los beneficios cuya cantidad sea mayor que la cantidad que se le debe pagar al momento de la muerte del asegurado. Federal tax forms 2010 Si los beneficios por pagar al momento de la muerte del asegurado no están especificados, incluirá en su ingreso los que sean mayores al valor actual pagadero de éstos en la fecha de la muerte del asegurado. Federal tax forms 2010 Pagos recibidos a plazos. Federal tax forms 2010   Si recibe pagos de un seguro de vida a plazos, puede excluir de su ingreso una parte de cada pago. Federal tax forms 2010   Para determinar la parte excluida, divida la cantidad mantenida por la compañía de seguros (normalmente la suma global total por pagar en la fecha del fallecimiento de la persona asegurada) por el número de plazos por pagar. Federal tax forms 2010 Toda cantidad que quede como excedente después de calcular la parte excluida tiene que ser incluida en sus ingresos como intereses. Federal tax forms 2010 Cónyuge sobreviviente. Federal tax forms 2010   Si su cónyuge falleció antes del 23 de octubre de 1986 y los pagos de un seguro recibidos por usted debido a la muerte de su cónyuge se reciben a plazos, puede excluir hasta $1,000 al año de los intereses incluidos en los plazos. Federal tax forms 2010 Si se vuelve a casar, puede continuar declarando la exclusión. Federal tax forms 2010 Rescate de póliza a cambio de efectivo. Federal tax forms 2010   Si rescata una póliza de seguro de vida a cambio de efectivo, tiene que incluir en los ingresos todo pago mayor que el costo de la póliza de seguro de vida. Federal tax forms 2010 En la mayoría de los casos, el costo (o inversión en el contrato) es el total de las primas que usted pagó por la póliza de seguro de vida, menos las primas reembolsadas, descuentos, dividendos o préstamos no reembolsados que no se incluyeron en su ingreso. Federal tax forms 2010    Debe recibir un Formulario 1099-R en el que aparezca el total de los pagos y la parte sujeta a impuestos. Federal tax forms 2010 Declare estas cantidades en las líneas 16a y 16b del Formulario 1040 o en las líneas 12a y 12b del Formulario 1040A. Federal tax forms 2010 Información adicional. Federal tax forms 2010   Para más información, consulte Life Insurance Proceeds (Ganancias de un seguro de vida) en la Publicación 525, en inglés. Federal tax forms 2010 Ganancias de un Contrato de Dotación Un contrato de dotación es una póliza según la cual usted recibe una cantidad especificada de dinero en una fecha determinada, a menos que fallezca antes de esa fecha, en cuyo caso, el dinero se paga a su beneficiario designado. Federal tax forms 2010 Las ganancias de un contrato de dotación que se le hagan en una suma global en la fecha de vencimiento están sujetas a impuestos sólo si la cantidad de las ganancias es mayor que el costo de la póliza. Federal tax forms 2010 Para determinar el costo, reste toda cantidad que haya recibido previamente conforme al contrato, y que se haya excluido de su ingreso, de las primas totales (u otra consideración) pagadas por el contrato. Federal tax forms 2010 Incluya en sus ingresos la parte del pago de suma global que sea mayor que el costo. Federal tax forms 2010 Beneficios Acelerados por Fallecimiento Ciertas cantidades pagadas como beneficios acelerados por fallecimiento conforme a un contrato de seguro de vida o una liquidación de tipo viático antes del fallecimiento del asegurado se excluyen de los ingresos si el asegurado padece de una enfermedad crónica o mortal. Federal tax forms 2010 Acuerdos viáticos. Federal tax forms 2010   Es la venta o asignación de cualquier parte del beneficio por fallecimiento conforme a un contrato de seguro de vida a un proveedor de acuerdos viáticos. Federal tax forms 2010 Un proveedor de acuerdos viáticos es una persona que ejerce regularmente la actividad de comprar o asumir la asignación de contratos de seguro de vida de personas aseguradas en vida que padecen una enfermedad crónica o mortal y que satisface los requisitos de la sección 101(g)(2)(B) del Código de Impuestos Internos. Federal tax forms 2010 Exclusión por enfermedad mortal. Federal tax forms 2010    Los beneficios acelerados por fallecimiento son totalmente excluibles si el asegurado es una persona que padece una enfermedad mortal. Federal tax forms 2010 Ésta es una persona cuyo médico ha certificado que tiene una enfermedad o condición física que se espera razonablemente que resulte en su muerte dentro de un período de 24 meses a partir de la fecha de la certificación. Federal tax forms 2010 Exclusión por enfermedad crónica. Federal tax forms 2010    Si el asegurado es una persona con una enfermedad crónica pero no está desahuciado, los beneficios acelerados por fallecimiento pagados en base a los costos en los que se ha incurrido por servicios de cuidado a largo plazo son totalmente excluibles. Federal tax forms 2010 Los beneficios acelerados por fallecimiento pagados por día o de otra forma periódica son excluibles hasta un límite. Federal tax forms 2010 Este límite corresponde al total de los beneficios acelerados por fallecimiento y a los pagos periódicos recibidos de contratos de seguro de cuidados a largo plazo. Federal tax forms 2010 Para obtener información sobre el límite y las definiciones de persona con enfermedad crónica, servicios calificados del cuidado a largo plazo y contratos de seguro de cuidados a largo plazo, consulte Long-Term Care Insurance Contracts (Contratos de seguro de cuidado a largo plazo) bajo Sickness and Injury Benefits (Beneficios por enfermedad y lesiones) en la Publicación 525, en inglés. Federal tax forms 2010 Excepción. Federal tax forms 2010   La exclusión no corresponde a ninguna cantidad pagada a una persona (excepto al asegurado) que tenga una participación asegurable en la vida del asegurado, porque dicho asegurado: Es director, funcionario o empleado de dicha persona o Tiene una participación económica en el negocio de dicha persona. Federal tax forms 2010 Formulario 8853. Federal tax forms 2010   Para reclamar una exclusión por concepto de beneficios acelerados por fallecimiento que se efectúen a diario o de otra forma periódica, tiene que presentar junto con su declaración el Formulario 8853, Archer MSAs and Long-Term Care Insurance Contracts (Cuentas Archer MSA de ahorros médicos y contratos del seguro de cuidado a largo plazo), en inglés. Federal tax forms 2010 No tiene que presentar el Formulario 8853 para excluir beneficios acelerados por fallecimiento pagados basándose en gastos reales en los que usted haya incurrido. Federal tax forms 2010 Funcionario de Seguridad Pública Fallecido en el Cumplimiento del Deber Si es sobreviviente de un funcionario de seguridad pública que falleció en el cumplimiento del deber, tal vez pueda excluir de los ingresos ciertas cantidades que reciba. Federal tax forms 2010 Para este propósito, el término “funcionario de seguridad pública” incluye a los funcionarios encargados de mantener el orden público, bomberos, capellanes, miembros de brigadas de rescate y miembros de servicios de ambulancia. Federal tax forms 2010 Consulte la Publicación 559, Survivors, Executors, and Administrators (Sobrevivientes, albaceas y administradores), en inglés, para más información. Federal tax forms 2010 Ingresos de Sociedades Colectivas Una sociedad colectiva generalmente no es una entidad sujeta a impuestos. Federal tax forms 2010 El ingreso, ganancias, pérdidas, deducciones y créditos de una sociedad colectiva se traspasan a los socios de acuerdo con la parte distributiva de los mismos para cada socio. Federal tax forms 2010 Anexo K-1 (Formulario 1065). Federal tax forms 2010    Aunque una sociedad colectiva generalmente no paga impuestos, ésta tiene que presentar una declaración informativa en el Formulario 1065, U. Federal tax forms 2010 S. Federal tax forms 2010 Return of Partnership Income (Declaración de impuestos estadounidenses sobre los ingresos de sociedades colectivas), en inglés, y enviar el Anexo K-1 (Formulario 1065) a cada socio. Federal tax forms 2010 Además, la sociedad colectiva enviará a cada socio una copia de las Partner's Instructions for Schedule K-1 (Instrucciones para el Anexo K-1 (Formulario 1065) del socio), en inglés, para ayudarlos a declarar su participación de los ingresos, deducciones, créditos y partidas que reciben trato tributario preferencial de la sociedad colectiva. Federal tax forms 2010 Guarde el Anexo K-1 (Formulario 1065) para sus registros. Federal tax forms 2010 Adjúntelo al Formulario 1040 a menos que usted esté específicamente requerido hacerlo. Federal tax forms 2010 Para obtener más información sobre las sociedades colectivas, consulte la Publicación 541, Partnerships (Sociedades colectivas), en inglés. Federal tax forms 2010 Empresa conjunta que reúne los requisitos. Federal tax forms 2010   Si usted y su cónyuge cada uno tienen una participación material como socios únicos de un negocio de posesión y operación conjunta, y presentan una declaración conjunta para el año tributario, pueden optar conjuntamente que se les considere empresa conjunta que reúne los requisitos en vez de sociedad colectiva. Federal tax forms 2010 Para optar por este trato, tienen que dividir todo elemento que corresponda a ingresos, ganancias, pérdidas, deducciones o créditos atribuibles a la empresa entre usted y su cónyuge conforme a la participación de cada uno en la empresa. Federal tax forms 2010 Para más información sobre cómo optar por este trato y qué anexos debe presentar, vea las instrucciones para su declaración de impuestos individual. Federal tax forms 2010 Ingresos de Sociedad Anónima de Tipo S En la mayoría de los casos, una sociedad anónima de tipo S no paga impuestos sobre sus ingresos. Federal tax forms 2010 En lugar de ello, los ingresos, pérdidas, deducciones y créditos de la sociedad anónima se traspasan a los accionistas de acuerdo con la participación prorrateada de cada accionista. Federal tax forms 2010 Anexo K-1 (Formulario 1120S). Federal tax forms 2010   Una sociedad anónima de tipo S tiene que presentar una declaración en el Formulario 1120S, U. Federal tax forms 2010 S. Federal tax forms 2010 Income Tax Return for an S Corporation (Declaración del impuesto estadounidense sobre el ingreso de una sociedad anónima de tipo S), en inglés, y enviar el Anexo K-1 (Formulario 1120S), en inglés, a cada accionista. Federal tax forms 2010 Además, la sociedad anónima de tipo S enviará a cada accionista una copia de las Shareholder's Instructions for Schedule K-1 (Instrucciones para el Anexo K-1 (Formulario 1120S) del accionista), en inglés, para ayudarlo a declarar su participación en los ingresos, pérdidas, créditos y deducciones de la sociedad anónima de tipo S. Federal tax forms 2010 Guarde el Anexo K-1 (Formulario 1120S) para sus registros. Federal tax forms 2010 Adjúntelo al Formulario 1040, a menos que usted esté específicamente requerido hacerlo. Federal tax forms 2010 Para más información sobre las sociedades anónimas de tipo S y sus accionistas, consulte las Instrucciones para el Formulario 1120S. Federal tax forms 2010 Recuperación de Fondos Una recuperación es un reembolso de una cantidad que usted dedujo o declaró como crédito en un año anterior. Federal tax forms 2010 Las recuperaciones más comunes son devoluciones, reembolsos y descuentos de deducciones detalladas en el Anexo A (Formulario 1040). Federal tax forms 2010 También puede tener recuperaciones de deducciones no detalladas (como pagos por deudas incobrables deducidas previamente) y recuperaciones de conceptos por los cuales previamente reclamó un crédito tributario. Federal tax forms 2010 Regla de beneficios tributarios. Federal tax forms 2010   Tiene que incluir en su ingreso una recuperación en el año en que la recibe hasta la cantidad en que la deducción o el crédito que declaró por la cantidad recuperada redujo su impuesto en el año anterior. Federal tax forms 2010 Para este propósito, se considera que todo aumento a una cantidad trasladada al año actual que resultara de la deducción o del crédito ha reducido su impuesto en el año anterior. Federal tax forms 2010 Para más información, vea la Publicación 525, en inglés. Federal tax forms 2010 Reembolso de impuestos federales sobre los ingresos. Federal tax forms 2010   Los reembolsos de los impuestos federales sobre los ingresos no se incluyen en sus ingresos porque nunca son permisibles como una deducción de los ingresos. Federal tax forms 2010 Reembolso de impuestos estatales sobre los ingresos. Federal tax forms 2010   Si recibió un reembolso de impuestos estatales o locales sobre los ingresos (crédito o cantidad neta de deudas) en el año 2013, por lo general tiene que incluirlo en el ingreso si dedujo el impuesto en un año anterior. Federal tax forms 2010 El pagador debe enviarle el Formulario 1099-G, Certain Government Payments (Ciertos pagos del gobierno), en inglés, para el 31 de enero del año 2014. Federal tax forms 2010 El IRS también recibirá una copia del Formulario 1099-G. Federal tax forms 2010 Si presenta el Formulario 1040, use la State and Local Income Tax Refund Worksheet (Hoja de trabajo para reembolsos del impuesto estatal y local sobre el ingreso), en inglés, en las instrucciones del Formulario 1040 del año 2013 para la línea 10 para calcular la cantidad (si la hay) que se debe incluir en su ingreso. Federal tax forms 2010 Vea la Publicación 525, en inglés, para saber cuándo tiene que usar otra hoja de trabajo. Federal tax forms 2010   Si pudo optar por deducir para un año tributario cualquiera de los siguientes: Impuestos estatales o locales sobre los ingresos o Impuestos estatales o locales sobre ventas generales, entonces el reembolso máximo que tal vez tenga que incluir en los ingresos se limita al impuesto excedente que optó por deducir ese año sobre el impuesto que no dedujo ese año. Federal tax forms 2010 Para ver ejemplos, consulte la Publicación 525, en inglés. Federal tax forms 2010 Reembolso de intereses hipotecarios. Federal tax forms 2010    Si recibió un reembolso o un crédito en el año 2013 de intereses hipotecarios que pagó en un año anterior, la cantidad debe aparecer en el recuadro 3 del Formulario 1098, Mortgage Interest Statement (Declaración de intereses hipotecarios), en inglés. Federal tax forms 2010 No reste la cantidad del reembolso de los intereses que pagó en el año 2013. Federal tax forms 2010 Tal vez tenga que incluirla en su ingreso según las reglas que se explican en los siguientes párrafos. Federal tax forms 2010 Intereses sobre la recuperación. Federal tax forms 2010   Los intereses sobre todas las cantidades que usted recupere se tienen que declarar como ingresos de intereses en el año en que los reciba. Federal tax forms 2010 Por ejemplo, declare todos los intereses que reciba en reembolsos de impuestos estatales o locales sobre los ingresos en la línea 8a del Formulario 1040. Federal tax forms 2010 Recuperación y gastos en el mismo año. Federal tax forms 2010   Si el reembolso u otra recuperación y los gastos se producen en el mismo año, la recuperación reduce la deducción o el crédito y no se declara como ingreso. Federal tax forms 2010 Recuperación de 2 años o más. Federal tax forms 2010   Si recibe un reembolso u otra recuperación por las cantidades que pagó durante 2 años o más distintos, debe asignar, a prorrateo, la cantidad recuperada entre los años en que pagó estas cantidades. Federal tax forms 2010 Esta asignación es necesaria para determinar la cantidad de recuperación de algún año anterior y para determinar la cantidad, si la hay, de la deducción permisible correspondiente a esta partida en el año actual. Federal tax forms 2010 Para obtener información sobre cómo calcular la asignación, consulte Recoveries (Recuperaciones) en la Publicación 525, en inglés. Federal tax forms 2010 Recuperaciones de Deducciones Detalladas Si recupera alguna cantidad que dedujo en un año anterior en el Anexo A (Formulario 1040), por lo general tiene que incluir en los ingresos la cantidad total de la recuperación en el año en que la recibe. Federal tax forms 2010 Dónde hacer la declaración. Federal tax forms 2010   Anote su reembolso de impuestos estatales o locales sobre el ingreso en la línea 10 del Formulario 1040 y el total de todas las demás recuperaciones como otros ingresos en la línea 21 del Formulario 1040. Federal tax forms 2010 No puede usar el Formulario 1040A ni el Formulario 1040EZ. Federal tax forms 2010 Límite de deducción estándar. Federal tax forms 2010   Por lo general, puede declarar la deducción estándar si no detalla las deducciones. Federal tax forms 2010 Sólo las deducciones detalladas mayores que la deducción estándar están sujetas a la regla de recuperación (a menos que a usted se le exija detallar sus deducciones). Federal tax forms 2010 Si las deducciones en la declaración del año anterior no fueron mayores que los ingresos de ese año, incluya en los ingresos del año actual la cantidad menor entre: Sus recuperaciones o La cantidad en que sus deducciones detalladas excedieron del límite de la deducción estándar. Federal tax forms 2010 Ejemplo. Federal tax forms 2010 Para el año 2012, usted presentó una declaración conjunta. Federal tax forms 2010 Su ingreso sujeto a impuestos fue $60,000 y no tenía derecho a crédito tributario alguno. Federal tax forms 2010 Su deducción estándar fue $11,900 y había detallado deducciones de $14,000. Federal tax forms 2010 En el año 2013, recibió las siguientes recuperaciones por las cantidades deducidas en la declaración del año 2012: Gastos médicos $200 Reembolso de impuestos estatales y locales sobre los ingresos 400 Reembolso de intereses hipotecarios 325 Total de recuperaciones $925 Ninguna de las recuperaciones fue mayor que las deducciones declaradas para el año 2012. Federal tax forms 2010 La diferencia entre los impuestos sobre el ingreso estatales y locales deducidos y el impuesto local general sobre ventas fue mayor que $400. Federal tax forms 2010 El total de las recuperaciones fue menor que la cantidad por la cual las deducciones detalladas excedieron de la deducción estándar ($14,000 − 11,900 = $2,100); por lo tanto, tiene que incluir en su ingreso el total de las recuperaciones para el año 2013. Federal tax forms 2010 Declare el reembolso de impuestos sobre el ingreso estatales o locales de $400 en la línea 10 del Formulario 1040 y el saldo de las recuperaciones, $525, en la línea 21 del Formulario 1040. Federal tax forms 2010 Deducción estándar para años anteriores. Federal tax forms 2010   Para determinar si las cantidades recuperadas en el año 2013 se tienen que incluir en su ingreso, tiene que saber cuál es la deducción estándar para su estado civil para efectos de la declaración del año en que se declaró la deducción. Federal tax forms 2010 Vea las instrucciones de su declaración de impuestos de años anteriores para encontrar la deducción estándar para su estado civil para dicho año anterior. Federal tax forms 2010 Ejemplo. Federal tax forms 2010 Usted presentó una declaración conjunta en el Formulario 1040 para el año 2012 con ingresos sujetos a impuestos de $45,000. Federal tax forms 2010 Sus deducciones detalladas fueron $12,350. Federal tax forms 2010 La deducción estándar que pudo haber declarado fue $11,900. Federal tax forms 2010 En el año 2013, recuperó $2,100 de sus deducciones detalladas del año 2012. Federal tax forms 2010 Ninguna de las recuperaciones fue mayor que las deducciones reales para el año 2012. Federal tax forms 2010 Incluya en sus ingresos del año 2013 $450 de las recuperaciones. Federal tax forms 2010 Ésta es la menor de las recuperaciones ($2,100) o la cantidad por la cual las deducciones detalladas superaban la deducción estándar ($12,350 − 11,900 = $450). Federal tax forms 2010 Recuperación limitada a la cantidad de la deducción. Federal tax forms 2010   No incluya en los ingresos ninguna cantidad de recuperación que sea mayor que la cantidad que usted dedujo en el año anterior. Federal tax forms 2010 La cantidad que se incluye en los ingresos se limita a la menor de las siguientes cantidades: La cantidad deducida en el Anexo A del Formulario 1040 o La cantidad recuperada. Federal tax forms 2010 Ejemplo. Federal tax forms 2010 En el año 2012, usted pagó $1,700 en gastos médicos. Federal tax forms 2010 De dicha cantidad, restó $1,500, o sea, el 7. Federal tax forms 2010 5% de sus ingresos brutos ajustados. Federal tax forms 2010 Reclamó una deducción de $200 por gastos médicos. Federal tax forms 2010 En 2013, recibió un reembolso de $500 de su seguro médico por sus gastos del año 2012. Federal tax forms 2010 La única parte del reembolso de $500 que se tiene que incluir en los ingresos correspondientes al año 2013 es $200, o sea, la cantidad que fue deducida. Federal tax forms 2010 Otras recuperaciones. Federal tax forms 2010   Consulte Recoveries (Recuperaciones) en la Publicación 525, en inglés, si: Tiene recuperaciones de partidas que no sean deducciones detalladas o Recibió recuperación de una partida por la cual reclamó un crédito tributario (que no sea el crédito por inversiones ni el crédito por impuestos extranjeros) en un año anterior. Federal tax forms 2010 Alquileres de Bienes Muebles Si alquila bienes muebles, como equipos o vehículos, la forma en que usted declara sus ingresos y gastos, en la mayoría de los casos, se determina conforme a lo siguiente: Si la actividad de alquiler es un negocio o no y Si la actividad de alquiler se realiza con o sin fines de lucro. Federal tax forms 2010 En la mayoría de los casos, si su propósito principal es obtener ingresos o ganancias y usted participa en forma continua y regular en la actividad de alquiler, la actividad de alquiler es un negocio. Federal tax forms 2010 Consulte la Publicación 535, Business Expenses (Gastos de negocio), en inglés, para obtener detalles sobre la deducción de gastos por actividades comerciales y actividades sin fines de lucro. Federal tax forms 2010 Cómo declarar ingresos y gastos de negocio. Federal tax forms 2010    Si se dedica al negocio de alquilar bienes muebles, declare sus ingresos y gastos en el Anexo C o en el Anexo C-EZ (Formulario 1040). Federal tax forms 2010 Las instrucciones del formulario contienen información sobre cómo completarlos. Federal tax forms 2010 Cómo declarar ingresos no comerciales. Federal tax forms 2010   Si no se dedica al negocio de alquilar bienes muebles, declare los ingresos de alquiler en la línea 21 del Formulario 1040. Federal tax forms 2010 Indique el tipo y la cantidad del ingreso en la línea de puntos junto a la línea 21. Federal tax forms 2010 Cómo declarar gastos no comerciales. Federal tax forms 2010   Si alquila bienes muebles para obtener ganancias, incluya sus gastos de alquiler en la cantidad total que se anota en la línea 36 del Formulario 1040. Federal tax forms 2010 También anote la cantidad y las letras “PPR” en la línea de puntos junto a la línea 36. Federal tax forms 2010   Si no alquila bienes muebles para obtener ganancias, las deducciones son limitadas y no puede declarar una pérdida para compensar otro ingreso. Federal tax forms 2010 Consulte Actividad sin fines de lucro , más adelante, bajo Otros Ingresos . Federal tax forms 2010 Reintegros Si tuvo que reintegrar una cantidad incluida en sus ingresos de un año anterior, tal vez pueda deducir la cantidad reintegrada de los ingresos del año en que la reintegró. Federal tax forms 2010 O bien, si la cantidad que reintegró es superior a $3,000, tal vez pueda reclamar un crédito contra su impuesto para el año en que la reintegró. Federal tax forms 2010 Por lo general, puede reclamar una deducción o un crédito sólo si el reintegro reúne los requisitos como gasto o pérdida en los que ha incurrido en su ocupación o negocio o en una transacción con fines de lucro. Federal tax forms 2010 Tipo de deducción. Federal tax forms 2010   El tipo de deducción que le es permitido en el año del reintegro depende del tipo de ingreso que haya incluido en el año anterior. Federal tax forms 2010 Normalmente, deduce el reintegro en el mismo formulario o anexo en que lo declaró previamente como ingreso. Federal tax forms 2010 Por ejemplo, si lo declaró como ingreso del trabajo por cuenta propia, dedúzcalo como gastos de negocio en el Anexo C, en el Anexo C-EZ (Formulario 1040) o en el Anexo F (Formulario 1040). Federal tax forms 2010 Si lo declaró como ganancias de capital, dedúzcalo como pérdida de capital según se explica en las Instrucciones del Anexo D (Formulario 1040). Federal tax forms 2010 Si lo declaró como salarios, compensación por desempleo u otros ingresos no comerciales, dedúzcalo como deducción detallada miscelánea en el Anexo A (Formulario 1040). Federal tax forms 2010 Beneficios del Seguro Social reintegrados. Federal tax forms 2010   Si reintegró beneficios del Seguro Social o beneficios equivalentes de la jubilación ferroviaria, vea Reintegro de beneficios en el capítulo 11. Federal tax forms 2010 Reintegro de $3,000 o menos. Federal tax forms 2010   Si la cantidad que reintegró fue $3,000 o menos, dedúzcala de sus ingresos en el año en que la reintegró. Federal tax forms 2010 Si la tiene que deducir como deducción detallada miscelánea, anótela en la línea 23 del Anexo A (Formulario 1040). Federal tax forms 2010 Reintegro superior a $3,000. Federal tax forms 2010   Si la cantidad que reintegró fue superior a $3,000, puede deducir el reintegro (como se explica bajo Tipo de deducción , anteriormente). Federal tax forms 2010 Sin embargo, a cambio de esto puede reclamar un crédito tributario para el año de reembolso si incluyó el ingreso conforme a una reclamación de derecho. Federal tax forms 2010 Esto significa que en el momento en que incluyó el ingreso, parecía que tenía un derecho sin restricción a éste. Federal tax forms 2010 Si reúne los requisitos para esta opción, calcule el impuesto bajo ambos métodos y compare los resultados. Federal tax forms 2010 Use el método (deducción o crédito) que genere menos impuesto. Federal tax forms 2010 Cuando determine si la cantidad que reintegró fue mayor que o menos de $3,000, considere el monto total que reintegra en la declaración. Federal tax forms 2010 Cada instancia de reintegro no se considera por separado. Federal tax forms 2010 Método 1. Federal tax forms 2010   Calcule su impuesto para el año 2013 declarando una deducción por la cantidad reintegrada. Federal tax forms 2010 Si la tiene que deducir como deducción detallada miscelánea, anótela en la línea 28 del Anexo A (Formulario 1040). Federal tax forms 2010 Método 2. Federal tax forms 2010   Calcule su impuesto para el año 2013 reclamando un crédito por la cantidad reintegrada. Federal tax forms 2010 Siga estos pasos: Calcule su impuesto para el año 2013 sin deducir la cantidad reintegrada. Federal tax forms 2010 Vuelva a calcular su impuesto del año anterior sin incluir en el ingreso la cantidad que reintegró en el año 2013. Federal tax forms 2010 Reste el impuesto en el punto (2) del impuesto que aparece en su declaración para el año anterior. Federal tax forms 2010 Éste es el crédito. Federal tax forms 2010 Reste el resultado en el punto (3) del impuesto para el año 2013 calculado sin la deducción (el paso 1). Federal tax forms 2010   Si el método 1 genera menos impuesto, deduzca la cantidad reintegrada. Federal tax forms 2010 Si el método 2 genera menos impuesto, reclame el crédito calculado en el punto (3) anteriormente, en la línea 71 del Formulario 1040, sumando la cantidad del crédito al monto de todo crédito que aparezca en esta línea y anote “I. Federal tax forms 2010 R. Federal tax forms 2010 C. Federal tax forms 2010 1341” (sección 1341 del Código de Impuestos Internos) en la columna a la derecha junto a la línea 71. Federal tax forms 2010   Un ejemplo de este cálculo se puede encontrar en la Publicación 525, en inglés. Federal tax forms 2010 Salarios reintegrados sujetos a los impuestos del Seguro Social y del Medicare. Federal tax forms 2010   Si usted tuvo que reintegrar una cantidad que incluyó en sus salarios o remuneración en un año anterior sobre los cuales pagó impuestos del Seguro Social, Medicare o impuestos conforme a la Ley Tributaria de Jubilación de Empleados Ferroviarios (RRTA, por sus siglas en inglés) del nivel 1, pídale a su empleador que le reembolse la cantidad pagada en exceso a usted. Federal tax forms 2010 Si el empleador se niega a reembolsarle los impuestos, pídale un documento escrito en donde se muestre la cantidad recaudada en exceso. Federal tax forms 2010 Esto le servirá como documento de apoyo para su reclamación. Federal tax forms 2010 Presente una reclamación para reembolso utilizando el Formulario 843, Claim for Refund and Request for Abatement (Reclamación para reembolso y reducción de impuestos), en inglés. Federal tax forms 2010 Salarios reintegrados sujetos al Impuesto Adicional del Medicare. Federal tax forms 2010   Los empleadores no pueden realizar ajustes ni presentar reclamaciones para reembolsos de la retención del Impuesto Adicional del Medicare cuando hay un reintegro de salarios recibidos por un empleado en un año anterior debido a que el empleado determina su responsabilidad del Impuesto Adicional del Medicare basándose en la declaración de impuestos sobre los ingresos del año anterior de él o ella. Federal tax forms 2010 Si usted tuvo que reintegrar una cantidad que incluyó en sus salarios o remuneración en un año anterior y sobre los cuales pagó el Impuesto Adicional del Medicare, quizás pueda recuperar dicho Impuesto Adicional del Medicare que pagó sobre esa cantidad. Federal tax forms 2010 Para recuperar el Impuesto Adicional del Medicare sobre los salarios o remuneración reintegrados, tiene que presentar el Formulario 1040X, Amended U. Federal tax forms 2010 S. Federal tax forms 2010 Individual Income Tax Return (Declaración enmendada del impuesto federal estadounidense sobre el ingreso personal), en inglés, para el año anterior en el cual los salarios o remuneración fueron recibidos originalmente. Federal tax forms 2010 Vea las Instrucciones para el Formulario 1040X, disponibles en inglés. Federal tax forms 2010 Regalías Las regalías de derechos de autor, patentes y de propiedades de petróleo, gas y minerales están sujetas a impuestos como ingreso ordinario. Federal tax forms 2010 En la mayoría de los casos, usted declara las regalías en la Parte I del Anexo E (Formulario 1040). Federal tax forms 2010 Sin embargo, si tiene intereses operativos petrolíferos, de gas o minerales o si su ocupación es escritor, inventor, artista, etc. Federal tax forms 2010 , por cuenta propia, declare los ingresos y gastos en el Anexo C o en el Anexo C-EZ (Formulario 1040). Federal tax forms 2010 Derechos de autor y patentes. Federal tax forms 2010   Las regalías provenientes de derechos de autor sobre obras literarias, musicales o artísticas y propiedades similares, o de patentes sobre inventos, son cantidades que recibe por el derecho de usar su obra durante un período determinado. Federal tax forms 2010 Las regalías generalmente se basan en la cantidad de unidades vendidas, por ejemplo, la cantidad de libros, boletos para un espectáculo o equipos vendidos. Federal tax forms 2010 Propiedades de petróleo, gas y minerales. Federal tax forms 2010   Los ingresos por regalías de propiedades de petróleo, gas o minerales son la cantidad que recibe cuando se extraen recursos naturales de su propiedad. Federal tax forms 2010 Las regalías se basan en unidades, como barriles, toneladas, etc. Federal tax forms 2010 , y las recibe de una persona o compañía que le alquila la propiedad. Federal tax forms 2010 Agotamiento. Federal tax forms 2010   Si posee participación económica en yacimientos minerales o en pozos de petróleo o de gas, puede recuperar su inversión a través del descuento por agotamiento. Federal tax forms 2010 Para obtener más información sobre este tema, consulte el capítulo 9 de la Publicación 535, en inglés. Federal tax forms 2010 Carbón y mineral de hierro. Federal tax forms 2010   En ciertas circunstancias, puede tratar las cantidades que recibe de la enajenación de carbón y mineral de hierro como pagos de la venta de un bien de capital, en lugar de ingresos por regalías. Federal tax forms 2010 Para obtener más información sobre pérdidas o ganancias provenientes de la venta de carbón y mineral de hierro, consulte la Publicación 544, en inglés. Federal tax forms 2010 Venta de participación de bienes. Federal tax forms 2010   Si vende su participación entera en derechos de petróleo, gas o minerales, la cantidad que reciba se considera pago de la venta de bienes utilizados en una ocupación o negocio conforme a la sección 1231 y no ingresos por regalías. Federal tax forms 2010 En ciertas circunstancias, la venta está sujeta a un trato de pérdidas o ganancias de capital según se explica en las Instrucciones del Anexo D (Formulario 1040). Federal tax forms 2010 Para obtener más información sobre las ventas de bienes conforme a la sección 1231, consulte el capítulo 3 de la Publicación 544, en inglés. Federal tax forms 2010   Si retiene una regalía, una regalía predominante o una participación de utilidad neta en una propiedad mineral durante la vida útil de dicha propiedad, significa que ha alquilado o subalquilado la propiedad y todo el dinero en efectivo que reciba por la asignación de otras participaciones en la propiedad se considera ingreso ordinario sujeto a descuento por agotamiento. Federal tax forms 2010 Parte de una futura producción vendida. Federal tax forms 2010   Si es propietario de una propiedad mineral, pero vende una parte de la producción futura, en la mayoría de los casos, se trata el dinero que recibe del comprador al momento de la venta como préstamo del comprador. Federal tax forms 2010 No lo incluya en su ingreso ni declare un agotamiento basado en el mismo. Federal tax forms 2010   Cuando se inicie la producción, incluya en su ingreso todos los pagos, deduzca todos los gastos de producción y deduzca el agotamiento de esa cantidad para obtener su ingreso sujeto a impuestos proveniente de la propiedad. Federal tax forms 2010 Beneficios por Desempleo El tratamiento tributario de los beneficios por desempleo recibidos depende del tipo de programa que pague dichos beneficios. Federal tax forms 2010 Compensación por desempleo. Federal tax forms 2010    Tiene que incluir en sus ingresos toda compensación por desempleo que haya recibido. Federal tax forms 2010 Debe recibir un Formulario 1099-G. Federal tax forms 2010 En el recuadro 1 de dicho formulario, debe aparecer la cantidad total de compensación por desempleo que se le pagó. Federal tax forms 2010 En la mayoría de los casos, la compensación por desempleo se anota en la línea 19 del Formulario 1040, la línea 13 del Formulario 1040A o la línea 3 del Formulario 1040EZ. Federal tax forms 2010 Tipos de compensación por desempleo. Federal tax forms 2010   La compensación por desempleo generalmente incluye todas las cantidades recibidas según una ley de compensación por desempleo de los Estados Unidos o de un estado. Federal tax forms 2010 Ésta incluye los siguientes beneficios: Beneficios pagados por un estado o el Distrito de Columbia provenientes del Fondo Fiduciario Federal para el Desempleo. Federal tax forms 2010 Beneficios del seguro estatal por desempleo. Federal tax forms 2010 Beneficios de compensación por desempleo para empleados ferroviarios. Federal tax forms 2010 Pagos por incapacidad de un programa gubernamental en sustitución de la compensación por desempleo. Federal tax forms 2010 (Las cantidades recibidas como compensación del seguro obrero por lesiones o enfermedad no se consideran compensación por desempleo. Federal tax forms 2010 Consulte el capítulo 5 para obtener más información). Federal tax forms 2010 Asignaciones por reajuste comercial según la Trade Act of 1974 (Ley de Comercio de 1974). Federal tax forms 2010 Ayuda para el desempleo según la Robert T. Federal tax forms 2010 Stafford Disaster Relief and Emergency Assistance Act (Ley Robert T. Federal tax forms 2010 Stafford de Alivio en Caso de Desastres y Ayuda en Emergencias). Federal tax forms 2010 Ayuda para el desempleo según el Airline Deregulation Act of 1974 Program (Programa de la Ley de Desregulación de las Aerolíneas de 1974). Federal tax forms 2010 Programa gubernamental. Federal tax forms 2010   Si aporta a un programa gubernamental de compensación por desempleo y sus aportes no se pueden deducir, las cantidades que reciba bajo el programa no se incluyen como compensación por desempleo hasta que recupere esos aportes. Federal tax forms 2010 Si dedujo todos los aportes hechos al programa, la totalidad de la cantidad recibida bajo el programa se incluye en los ingresos. Federal tax forms 2010 Reintegro de compensación por desempleo. Federal tax forms 2010   Si en el año 2013 reintegró la compensación por desempleo que recibió en el año 2013, reste la cantidad que reintegró de la cantidad total que recibió y anote la diferencia en la línea 19 del Formulario 1040, la línea 13 del Formulario 1040A o la línea 3 del Formulario 1040EZ. Federal tax forms 2010 En la línea de puntos junto a su anotación, escriba “Repaid” (Reintegrado) y la cantidad que reintegró. Federal tax forms 2010 Si reintegró en el año 2013 la compensación por desempleo que incluyó en ingreso en un año anterior, puede deducir la cantidad reintegrada en la línea 23 del Anexo A (Formulario 1040) si detalla deducciones. Federal tax forms 2010 Si la cantidad es mayor que $3,000, consulte Reintegros , anteriormente. Federal tax forms 2010 Retención de impuestos. Federal tax forms 2010   Puede optar por que le retengan el impuesto federal sobre el ingreso de su compensación por desempleo. Federal tax forms 2010 Para optar por esta opción, complete el Formulario W-4V, Voluntary Withholding Request (Solicitud de retención voluntaria), y entréguelo a la oficina pagadora. Federal tax forms 2010 Se le retendrá un impuesto del 10% del pago. Federal tax forms 2010    Si opta por que no le retengan impuesto de su compensación por desempleo, es posible que sea responsable de pagar impuesto estimado. Federal tax forms 2010 Si no paga suficientes impuestos mediante la retención o pagos de impuesto estimado, o ambos, puede estar sujeto a una multa. Federal tax forms 2010 Para más información sobre el impuesto estimado, consulte el capítulo 4 . Federal tax forms 2010 Beneficios suplementarios de desempleo. Federal tax forms 2010   Los beneficios recibidos de un fondo financiado por el empleador (al que los empleados no aportaron) no se consideran compensación por desempleo. Federal tax forms 2010 Éstos están sujetos a impuestos como salario y están sujetos a la retención del impuesto sobre el ingreso. Federal tax forms 2010 Es posible que estén sujetos a los impuestos del Seguro Social y Medicare. Federal tax forms 2010 Para obtener más información, consulte Supplemental Unemployment Benefits (Beneficios suplementarios de desempleo) en la sección 5 de la Publicación 15-A, Employer's Supplemental Tax Guide (Guía tributaria suplementaria para empleadores), en inglés. Federal tax forms 2010 Declare estos pagos en la línea 7 del Formulario 1040 o del Formulario 1040A, o en la línea 1 del Formulario 1040EZ. Federal tax forms 2010 Reintegro de beneficios. Federal tax forms 2010   Tal vez tenga que reintegrar algunos de sus beneficios suplementarios de desempleo para tener derecho a descuentos de reajustes comerciales según la Ley de Comercio de 1974. Federal tax forms 2010 Si reintegra dichos beneficios durante el mismo año en el cual los recibe, reste del total de los beneficios la cantidad del reintegro. Federal tax forms 2010 Si reintegra los beneficios en un año posterior, tiene que incluir en su ingreso la cantidad total de los beneficios recibidos en ese año. Federal tax forms 2010   Deduzca el reintegro en el año posterior como ajuste al ingreso bruto en el Formulario 1040. Federal tax forms 2010 (No puede usar el Formulario 1040A ni el Formulario 1040EZ). Federal tax forms 2010 Incluya el reintegro en la línea 36 del Formulario 1040 y anote “ Sub-Pay TRA ” (TRA de Subpago) y la cantidad en la línea de puntos junto a la línea 36. Federal tax forms 2010 Si la cantidad que reintegra en un año posterior es más de $3,000, tal vez pueda reclamar un crédito para su impuesto del año posterior, en lugar de deducir la cantidad reintegrada. Federal tax forms 2010 Para detalles consulte la sección Reintegros , anteriormente. Federal tax forms 2010 Fondo privado de desempleo. Federal tax forms 2010   Los pagos de beneficios por desempleo de un fondo privado (no sindical) al que aporta de manera voluntaria están sujetos a impuestos sólo si las cantidades que recibe son mayores a los pagos totales que realiza al fondo. Federal tax forms 2010 Declare la cantidad sujeta a impuestos en la línea 21 del Formulario 1040. Federal tax forms 2010 Pagos por un sindicato. Federal tax forms 2010   Los beneficios que recibe como miembro desempleado de un sindicato provenientes de cuotas sindicales regulares se incluyen en su ingreso en la línea 21 del Formulario 1040. Federal tax forms 2010 No obstante, si aporta a un fondo sindical especial y sus pagos al fondo no son deducibles, los beneficios por desempleo que usted reciba del fondo se pueden incluir en su ingreso solamente en la medida en que sean mayores que sus aportes. Federal tax forms 2010 Salario anual garantizado. Federal tax forms 2010   Los pagos que reciba de su empleador durante períodos de desempleo, conforme a un acuerdo sindical que le garantice el pago completo durante el año, están sujetos a impuestos como salario. Federal tax forms 2010 Inclúyalos en la línea 7 del Formulario 1040 o del Formulario 1040A, o en la línea 1 del Formulario 1040EZ. Federal tax forms 2010 Empleados estatales. Federal tax forms 2010   El estado puede efectuar pagos similares a la compensación por desempleo del estado a sus empleados que no estén cubiertos por la ley de compensación por desempleo de dicho estado. Federal tax forms 2010 Aunque los pagos están sujetos a impuestos en su totalidad, no los declare como compensación por desempleo. Federal tax forms 2010 Declare estos pagos en la línea 21 del Formulario 1040. Federal tax forms 2010 Beneficios del Bienestar Social y Otros Beneficios de Asistencia Pública No incluya en su ingreso beneficios pagados por el gobierno de un fondo público de bienestar social basados en necesidad, tales como pagos efectuados a una persona ciega conforme a una ley estatal de asistencia pública. Federal tax forms 2010 Los pagos de un fondo estatal para víctimas de delitos no se deben incluir en los ingresos de las víctimas si se efectúan por bienestar social. Federal tax forms 2010 No deduzca gastos médicos que se reembolsen a través de ese tipo de fondo. Federal tax forms 2010 En sus ingresos tiene que incluir todos los pagos de bienestar social que sean por compensación por servicios o que se obtengan de manera fraudulenta. Federal tax forms 2010 Pagos de ayuda para el reempleo de personas que se ven afectadas por ajustes comerciales. Federal tax forms 2010   Los pagos de ayuda para el reempleo de personas que se ven afectadas por ajustes comerciales (RTAA, por sus siglas en ingles) que usted recibió de una agencia estatal tienen que incluirse en sus ingresos. Federal tax forms 2010 El estado tiene que enviarle el Formulario 1099-G para informarle de qué cantidad debe incluir como ingreso. Federal tax forms 2010 Dicha cantidad se debe anotar en la línea 21 del Formulario 1040. Federal tax forms 2010 Personas incapacitadas. Federal tax forms 2010   Si tiene una incapacidad, tiene que incluir en su ingreso la compensación recibida a cambio de los servicios que haya prestado, a menos que la compensación se excluya de otro modo. Federal tax forms 2010 Sin embargo, no incluya en su ingreso el valor de bienes, servicios y dinero en efectivo que reciba, no por sus servicios, sino por su capacitación y rehabilitación porque tiene una incapacidad. Federal tax forms 2010 Las cantidades excluibles incluyen pagos por transporte y cuidado proporcionado por un asistente, como los servicios de un intérprete para sordos, servicios de un lector para ciegos y para ayudar a personas con discapacidad intelectual a hacer su trabajo. Federal tax forms 2010 Subvenciones de asistencia en caso de desastre. Federal tax forms 2010    No incluya en su ingreso las subvenciones recibidas después de un desastre conforme a la Robert T. Federal tax forms 2010 Stafford Disaster Relief and Emergency Assistance Act (Ley Robert T. Federal tax forms 2010 Stafford de Alivio en Caso de Desastres y Ayuda en Emergencias) si los pagos de subvenciones se realizaron para ayudarlo a satisfacer gastos necesarios o necesidades urgentes como gastos médicos, dentales, de vivienda, de bienes muebles, de transporte, cuidado de menores o funerarios. Federal tax forms 2010 No deduzca gastos por pérdidas fortuitas ni gastos médicos que sean específicamente reembolsados por estas subvenciones como ayuda por desastres. Federal tax forms 2010 Si ha deducido una pérdida por hecho fortuito por la pérdida de su residencia personal y recibe posteriormente una subvención de ayuda por desastres por la pérdida de dicha residencia, es posible que tenga que incluir la totalidad o parte de la subvención en los ingresos sujetos a impuestos. Federal tax forms 2010 Vea Recuperación de Fondos , anteriormente. Federal tax forms 2010 Los pagos de asistencia por desempleo conforme a la Ley se consideran compensación por desempleo sujeta a impuestos. Federal tax forms 2010 Consulte Compensación por desempleo , anteriormente, bajo Beneficios por Desempleo . Federal tax forms 2010 Pagos de asistencia en caso de desastres. Federal tax forms 2010   Puede excluir de su ingreso toda cantidad que reciba en forma de pago calificado de asistencia en caso de desastres. Federal tax forms 2010 Un pago calificado de asistencia en caso de desastres es una cantidad que recibe: Para reembolsar o pagar gastos personales, familiares, de vivienda o funerarios razonables y necesarios ocasionados por un desastre calificado; Para reembolsar o pagar gastos razonables y necesarios en los que haya incurrido por la reparación o rehabilitación de su vivienda o la reparación o reemplazo de su contenido, siempre que esto se deba a un desastre calificado; De una persona encargada del suministro o venta de transporte como transportista habitual, debido a la muerte o lesiones corporales ocurridas como resultado de un desastre calificado o De un gobierno, agencia u organismo federal, estatal o local con respecto a un desastre calificado con el propósito de promover el bienestar social general. Federal tax forms 2010 Sólo puede excluir esta cantidad siempre que los gastos que ésta cubre no los pague un seguro u otro medio. Federal tax forms 2010 La exclusión no es aplicable si fue participante o conspirador en una acción terrorista o representante de un participante o conspirador. Federal tax forms 2010   Un desastre calificado es: Un desastre originado por una acción terrorista o militar; Una zona de desastre declarada como tal por el gobierno federal o Un desastre originado por un accidente que involucra a un transportista común, u originado por otro hecho, que el Secretario del Tesoro o su delegado declara como catástrofe. Federal tax forms 2010   Para las cantidades pagadas bajo el punto (4), un desastre que reúne los requisitos si una autoridad federal, estatal o local determina que dicho desastre justifica la asistencia por parte de un gobierno, agencia u organismo federal, estatal o local. Federal tax forms 2010 Pagos para la mitigación de desastres. Federal tax forms 2010   También puede excluir de su ingreso todo monto que reciba por concepto de pago calificado de mitigación de desastres. Federal tax forms 2010 Los pagos calificados para la mitigación de desastres también se pagan en su mayoría durante el período inmediatamente después de los daños a la propiedad debidos a un desastre natural. Federal tax forms 2010 Sin embargo, los pagos de mitigación de desastres se utilizan para mitigar (reducir la seriedad de) daños potenciales de futuros desastres naturales. Federal tax forms 2010 Le son pagados a través de gobiernos estatales y locales conforme a las disposiciones de la Robert T. Federal tax forms 2010 Stafford Disaster Relief and Emergency Assistance Act (Ley Robert T. Federal tax forms 2010 Stafford de Alivio en Caso de Desastres y Ayuda en Emergencias) o la National Flood Insurance Act (Ley Nacional de Seguro contra Inundaciones). Federal tax forms 2010   Usted no puede aumentar la base original ni la base ajustada de su propiedad debido a mejoras hechas con pagos para la mitigación de desastres no sujetos a impuestos. Federal tax forms 2010 Programa de modificación de préstamos hipotecarios (HAMP). Federal tax forms 2010   Si recibe pagos de Pay-for-Performance Success Payments (Pago de incentivo a condición de que el prestatario efectúe puntualmente los pagos mensuales de una hipoteca) conforme al Home Affordable Modification Program (Programa de modificación asequible de hipotecas residenciales o HAMP, por sus siglas en inglés), dichos pagos no están sujetos a impuestos. Federal tax forms 2010 Pagos de asistencia hipotecaria conforme a la sección 235 de la Ley Nacional de Vivienda. Federal tax forms 2010   Los pagos realizados conforme a la sección 235 de la National Housing Act (Ley Nacional de Vivienda) para asistencia hipotecaria no se incluyen en los ingresos del propietario. Federal tax forms 2010 Los intereses pagados por el propietario bajo el programa de asistencia hipotecaria no se pueden deducir. Federal tax forms 2010 Medicare. Federal tax forms 2010   Los beneficios del seguro Medicare recibidos conforme al Título XVIII de la Ley del Seguro Social no se incluyen en el ingreso bruto de los individuos por los cuales se pagan. Federal tax forms 2010 Esto incluye beneficios básicos (parte A (Beneficios del Seguro Hospitalario para Ancianos)) y suplementarios (parte B (Beneficios Suplementarios del Seguro Médico para Ancianos)). Federal tax forms 2010 Beneficios del seguro por vejez, sobrevivientes e incapacidad (OASDI). Federal tax forms 2010   Por lo general, los pagos del seguro por vejez, sobrevivientes e incapacidad (OASDI, por sus siglas en inglés), conforme a la sección 202 del Título II de la Ley del Seguro Social no se incluyen en el ingreso bruto de los individuos que reciben el pago. Federal tax forms 2010 Esto corresponde a los beneficios de seguros por vejez y beneficios de seguros para cónyuges, hijos, viudos, madres y padres, además del pago en suma global por fallecimiento. Federal tax forms 2010 Programa de Nutrición para Ancianos. Federal tax forms 2010    Los beneficios de alimentos que usted recibe bajo el Programa de Nutrición para Ancianos no están sujetos a impuestos. Federal tax forms 2010 Si prepara y sirve comidas gratuitas para el programa, incluya en sus ingresos como salario el pago en efectivo que recibe, aun si también reúne los requisitos para recibir beneficios para alimentos. Federal tax forms 2010 Pagos para la reducción del costo de energía en invierno. Federal tax forms 2010   Los pagos efectuados por un estado a personas calificadas para reducir el costo del uso de energía en invierno no están sujetos a impuestos. Federal tax forms 2010 Otros Ingresos A continuación aparecen otros temas breves. Federal tax forms 2010 Estos temas, sobre otros ingresos, están referidos en publicaciones que provee