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File 2011 California State Taxes

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File 2011 California State Taxes

File 2011 california state taxes 28. File 2011 california state taxes   Deducciones Misceláneas Table of Contents Qué Hay de Nuevo Introduction Useful Items - You may want to see: Deducciones Sujetas al Límite del 2%Gastos del Empleado no Reembolsados (Línea 21) Costos de la Preparación de la Declaración de Impuestos (Línea 22) Otros Gastos (Línea 23) Deducciones no Sujetas al Límite del 2%Lista de Deducciones Gastos no DeduciblesLista de Gastos no Deducibles Qué Hay de Nuevo Tarifa estándar por milla. File 2011 california state taxes  La tarifa para uso comercial de un vehículo en 2013 es 56½ centavos por milla. File 2011 california state taxes Introduction Este capítulo explica qué gastos pueden declararse como deducciones detalladas misceláneas en el Anexo A (Formulario 1040). File 2011 california state taxes Usted tendrá que reducir por el 2% de su ingreso bruto ajustado el total de la mayoría de las deducciones misceláneas detalladas. File 2011 california state taxes Este capítulo trata los siguientes temas: Deducciones sujetas al límite del 2%. File 2011 california state taxes Deducciones no sujetas al límite del 2%. File 2011 california state taxes Gastos que no se pueden deducir. File 2011 california state taxes Tiene que guardar documentación para verificar sus deducciones. File 2011 california state taxes Debe guardar sus recibos, cheques cancelados, cheques sustitutivos, estados de cuentas financieras y otros documentos comprobantes. File 2011 california state taxes Si desea obtener más información sobre el mantenimiento de documentación, obtenga la Publicación 552, Recordkeeping for Individuals (Mantenimiento de documentación para personas físicas), en inglés. File 2011 california state taxes Useful Items - You may want to see: Publicación 463 Travel, Entertainment, Gift, and Car Expenses (Gastos de viaje, entretenimiento, regalos y automóvil), en inglés 525 Taxable and Nontaxable Income (El ingreso tributable y no tributable), en inglés 529 Miscellaneous Deductions (Deducciones misceláneas), en inglés 535 Business Expenses (Gastos de negocios), en inglés 587 Business Use of Your Home (Including Use by Daycare Providers) (Uso de su domicilio para propósitos comerciales (incluyendo el uso por proveedores de cuidado infantil)), en inglés 946 How To Depreciate Property (Cómo depreciar la propiedad), en inglés Formulario (e Instrucciones) Anexo A (Formulario 1040) Itemized Deductions (Deducciones detalladas), en inglés 2106 Employee Business Expenses (Gastos de negocio del empleado), en inglés 2106-EZ Unreimbursed Employee Business Expenses (Gastos de negocio del empleado no reembolsados), en inglés Deducciones Sujetas al Límite del 2% Usted puede deducir ciertos gastos como deducciones detalladas misceláneas en el Anexo A (Formulario 1040). File 2011 california state taxes Puede deducir la parte de sus gastos que supere al 2% de su ingreso bruto ajustado. File 2011 california state taxes Se calcula la deducción en el Anexo A; restando el 2% de sus ingresos brutos ajustados del total de estos gastos. File 2011 california state taxes Su ingreso bruto ajustado es la cifra escrita en la línea 38 del Formulario 1040. File 2011 california state taxes Por lo general, se aplica el límite del 2% después de aplicar los demás límites de deducciones. File 2011 california state taxes Por ejemplo, el límite del 50% (o del 80%) sobre comidas y entretenimiento relacionados con los negocios (explicado en el capítulo 26) se aplica antes de aplicar el límite del 2%. File 2011 california state taxes Las deducciones sujetas al límite del 2% se explican aquí de acuerdo con las tres categorías en las cuales los declara en el Anexo A (Formulario 1040): Gastos del empleado no reembolsados (línea 21). File 2011 california state taxes Costos de la preparación de la declaración de impuestos (línea 22). File 2011 california state taxes Otros gastos (línea 23). File 2011 california state taxes Gastos del Empleado no Reembolsados (Línea 21) Generalmente, uno puede deducir en la línea 21 del Anexo A (Formulario 1040) los gastos del empleado no reembolsados que: Pague o en los que incurra durante el año tributario, Sean necesarios para llevar a cabo su oficio o negocio como empleado y Sean ordinarios y necesarios. File 2011 california state taxes Un gasto es “ordinario” si es común y aceptado en su oficio, negocio o profesión. File 2011 california state taxes Un gasto es necesario si es adecuado y útil para su negocio. File 2011 california state taxes Un gasto no tiene que ser obligatorio para considerarse necesario. File 2011 california state taxes A continuación se indican algunos ejemplos de gastos del empleado no reembolsados. File 2011 california state taxes Después de la lista encontrará otros ejemplos de gastos del empleado no reembolsados. File 2011 california state taxes Deudas incobrables incurridas por un empleado en la ejecución de su trabajo. File 2011 california state taxes Educación relacionada con el trabajo. File 2011 california state taxes (Vea el capítulo 27). File 2011 california state taxes Honorarios legales relacionados con su trabajo. File 2011 california state taxes Licencias y tarifas reglamentarias. File 2011 california state taxes Primas de seguro contra negligencia profesional. File 2011 california state taxes Exámenes médicos requeridos por un empleador. File 2011 california state taxes Impuestos sobre una profesión u ocupación. File 2011 california state taxes Pasaporte para un viaje de negocios. File 2011 california state taxes Suscripciones a revistas profesionales y de industria relacionadas con su trabajo. File 2011 california state taxes Viajes, transporte, entretenimiento y regalos relacionados con su trabajo. File 2011 california state taxes (Vea el capítulo 26). File 2011 california state taxes Seguro de Responsabilidad Comercial Puede deducir las primas de seguro que pagó para protegerse contra responsabilidad personal por actos ilícitos en el trabajo. File 2011 california state taxes Daños por Incumplimiento de Contrato de Empleo Si deja de cumplir con un contrato de empleo, puede deducir los daños que pague a su antiguo empleador que sean atribuibles a la paga que había recibido de ese empleador. File 2011 california state taxes Depreciación de Computadoras Puede declarar una deducción por depreciación de una computadora que usted usa en el trabajo como empleado si su uso: Es para conveniencia de su empleador y Se requiere como una condición de su empleo. File 2011 california state taxes Para obtener información acerca de las reglas y excepciones a las reglas que afectan las deducciones permitidas por una computadora en su casa, vea la Publicación 529, en inglés. File 2011 california state taxes Cuotas a Cámaras de Comercio y Asociaciones Profesionales Es posible que pueda deducir cuotas pagadas a organizaciones profesionales (como asociaciones de abogados y asociaciones médicas) y a cámaras de comercio y organizaciones parecidas, si la afiliación le ayuda a realizar los deberes de su trabajo. File 2011 california state taxes Estas organizaciones incluyen: Juntas comerciales, Asociaciones comerciales, Organizaciones cívicas o de servicios públicos, Juntas de bienes raíces y Asociaciones profesionales. File 2011 california state taxes Actividades políticas y de cabildeo. File 2011 california state taxes   Quizás no pueda deducir la parte de sus cuotas destinada a ciertas actividades políticas y de cabildeo. File 2011 california state taxes Vea Cuotas usadas para cabildeo bajo Gastos no Deducibles, más adelante. File 2011 california state taxes Gastos del Educador Si en el año 2013 usted era un educador que reunía los requisitos, usted puede deducir hasta $250 de gastos calificados que usted pagó en el año 2013 como ajuste a los ingresos brutos, en la línea 23 del Formulario 1040, en vez de una deducción detallada miscelánea. File 2011 california state taxes Si presenta el Formluario 1040A, usted podría deducir estos gastos en la línea 16. File 2011 california state taxes Si usted y su cónyuge están presentando una declaración conjunta y ambos fueron educadores calificados, la deducción máxima es $500. File 2011 california state taxes No obstante, ninguno puede deducir más de $250 como gastos calificados. File 2011 california state taxes Oficina en el Domicilio Si de manera habitual, usted usa una parte de su domicilio exclusivamente para propósitos comerciales, tal vez pueda deducir una parte de los gastos de operación y depreciación de su domicilio. File 2011 california state taxes Puede reclamar esta deducción por el uso comercial de una parte de su domicilio sólo si utiliza esa parte habitual y exclusivamente: Como el lugar principal de negocios para algún oficio o negocio, Como lugar para reunirse o recibir a sus pacientes o clientes en el transcurso normal de su oficio o negocio o En el caso de un edificio separado no conectado a su domicilio, si lo usa para fines de su oficio o negocio. File 2011 california state taxes Dicho uso comercial, habitual y exclusivo tiene que ser para conveniencia de su empleador y no sólo adecuado y útil para su propio trabajo. File 2011 california state taxes Vea la Publicación 587, en inglés, para obtener información más detallada y una hoja de trabajo. File 2011 california state taxes Gastos Relacionados con la Búsqueda de Empleo Puede deducir determinados gastos que tenga al buscar un nuevo trabajo en su profesión actual, incluso si no lo consigue. File 2011 california state taxes Pero no puede deducir estos gastos si: Busca trabajo en una nueva profesión, Hubo una pausa considerable entre el término de su último trabajo y la búsqueda de un trabajo nuevo o Busca trabajo por primera vez. File 2011 california state taxes Cuotas de agencias de colocación y empleo. File 2011 california state taxes   Puede deducir cuotas que pague a agencias de colocación y empleo que usa como parte de su búsqueda de trabajo en su profesión actual. File 2011 california state taxes Si el empleador le devuelve dinero. File 2011 california state taxes   Si, en un año posterior, su empleador le devuelve el dinero de las cuotas de agencias de empleo, usted tiene que incluir la cantidad que reciba en sus ingresos brutos hasta que llegue al total del beneficio tributario que recibió en el año anterior. File 2011 california state taxes (Vea Recuperaciones de Fondos en el capítulo 12). File 2011 california state taxes Si el empleador le paga a la agencia de empleo. File 2011 california state taxes   Si su empleador paga las cuotas directamente a la agencia de empleo y usted no es responsable de pagarlas, no puede incluirlas en sus ingresos brutos. File 2011 california state taxes Currículum vitae. File 2011 california state taxes   Puede deducir lo que gaste para preparar o enviar por correo copias de un currículum vitae a posibles empleadores siempre que busca un trabajo nuevo en su profesión actual. File 2011 california state taxes Gastos de viaje y transporte. File 2011 california state taxes   Si viaja a algún lugar y durante su estadía busca un trabajo nuevo en su profesión actual, tal vez pueda deducir los gastos de viaje de ida y vuelta al lugar. File 2011 california state taxes Puede deducir los gastos de viaje si el viaje se realizó principalmente para buscar un trabajo nuevo. File 2011 california state taxes Es importante saber qué parte del tiempo dedique a actividades personales y qué parte del tiempo dedique a buscar trabajo para determinar si el viaje se hizo principalmente por motivos personales o para buscar un trabajo nuevo. File 2011 california state taxes   Incluso si no puede deducir los gastos de viaje de ida y vuelta al lugar, puede deducir los gastos de buscar trabajo nuevo en su profesión actual que incurra mientras se encuentra en dicho lugar. File 2011 california state taxes   Puede optar por utilizar la tarifa estándar por milla para calcular los gastos de automóvil. File 2011 california state taxes La tarifa correspondiente al año 2013 para uso comercial de un vehículo es 56½ centavos por milla. File 2011 california state taxes Vea el capítulo 26 para más información. File 2011 california state taxes Licencias y Tarifas Reglamentarias Puede deducir la cantidad que pague cada año a gobiernos estatales o locales por licencias y tarifas reglamentarias para su oficio, negocio o profesión. File 2011 california state taxes Impuestos Incidentales al Trabajo Puede deducir un impuesto incidental al trabajo que una localidad le cobre a una tarifa fija por el privilegio de trabajar o realizar un negocio dentro de dicha localidad. File 2011 california state taxes Si usted es empleado, puede reclamar impuestos incidentales al trabajo sólo como deducción miscelánea sujeta al límite del 2%; no puede reclamarlos como una deducción en otro lugar de su declaración. File 2011 california state taxes Reintegro de un Pago de Asistencia Un “pago de asistencia” es aquel pago que se recibe de acuerdo con un plan del empleador para ayudar a los empleados que pierden su empleo debido a la falta de trabajo. File 2011 california state taxes Si usted reintegra un pago de asistencia de suma global que recibió y había incluido en sus ingresos en un año anterior, puede deducir dicho reintegro. File 2011 california state taxes Gastos de Investigación de un Profesor Universitario Si es profesor universitario, puede deducir los gastos de investigación, incluidos gastos de viaje y gastos en los que incurra por enseñar, dar conferencias o escribir y publicar temas relacionados directamente con su labor de enseñanza. File 2011 california state taxes Tiene que haber comenzado la investigación como parte de los deberes de enseñanza que se esperan de un profesor y sin expectativas lucrativas además del sueldo. File 2011 california state taxes No obstante, no puede deducir los costos de viajes como una forma de educación. File 2011 california state taxes Herramientas Utilizadas en su Trabajo Por lo general, puede deducir los gastos por herramientas que usa en su trabajo si éstas se desgastan y se deshace de ellas dentro de 1 año después de la fecha de compra. File 2011 california state taxes Puede depreciar el costo de las herramientas cuya vida sea mayor del año tributario. File 2011 california state taxes Para obtener más información acerca de la depreciación, vea la Publicación 946, en inglés. File 2011 california state taxes Cuotas y Gastos de Afiliación a un Sindicato Puede deducir cuotas y tarifas iniciales que pague para afiliarse a un sindicato. File 2011 california state taxes También puede deducir contribuciones destinadas a los beneficios para miembros del sindicato desempleados. File 2011 california state taxes No obstante, no puede deducir la parte de las contribuciones o aportaciones destinadas a los fondos para el pago de beneficios por enfermedad, accidente o fallecimiento. File 2011 california state taxes Asimismo, no puede deducir aportaciones a un fondo de pensiones, incluso si el sindicato le exige que realice las aportaciones. File 2011 california state taxes Tal vez no pueda deducir las cantidades que pague al sindicato si éstas están relacionadas con determinadas actividades políticas o de cabildeo. File 2011 california state taxes Vea Gastos de Cabildeo bajo Gastos no Deducibles, más adelante. File 2011 california state taxes Ropa de Trabajo y Uniformes Puede deducir el costo y mantenimiento de la ropa de trabajo si se cumplen los dos requisitos siguientes: Está obligado a usarlas como condición de empleo. File 2011 california state taxes La ropa no es adecuada para uso cotidiano. File 2011 california state taxes No es suficiente usar ropa distintiva. File 2011 california state taxes Su empleador tiene que requerir específicamente esa ropa. File 2011 california state taxes Tampoco es suficiente que, de hecho, no use su ropa de trabajo en otro lugar. File 2011 california state taxes La ropa no puede servir para reemplazar su ropa habitual. File 2011 california state taxes Algunos ejemplos de trabajadores que tal vez puedan deducir el costo y mantenimiento de la ropa de trabajo son: personas que realicen entregas, bomberos, proveedores de servicios de la salud, agentes encargados de mantener el orden público, carteros, atletas profesionales y trabajadores del transporte (aéreo, ferroviario, terrestre, etc. File 2011 california state taxes ). File 2011 california state taxes Los músicos y artistas pueden deducir el costo de la ropa y los accesorios de teatro si no son adecuados para su uso cotidiano. File 2011 california state taxes Sin embargo, la ropa de trabajo que conste de un gorro blanco, camisa blanca o chaqueta blanca, overol (de pintor) blanco y zapatos de trabajo estándar, como la que debe usar un pintor en su trabajo por exigencia de su sindicato, no es distintiva en cuanto a carácter ni a la naturaleza del uniforme. File 2011 california state taxes Igualmente, los costos de compra y mantenimiento de ropa de trabajo azul usada por un soldador a solicitud de un capataz no son deducibles. File 2011 california state taxes Ropa de protección. File 2011 california state taxes   Puede deducir el costo de la ropa de protección obligatoria en su trabajo, como zapatos o botas de seguridad, anteojos de seguridad, cascos y guantes de trabajo. File 2011 california state taxes   Algunos ejemplos de trabajadores a los que quizás se les exija usar artículos de seguridad son: carpinteros, trabajadores del cemento, trabajadores de productos químicos, electricistas, tripulación de barcos de pesca, maquinistas, trabajadores de campos petrolíferos, fontaneros, técnicos en tuberías y conductores de camiones. File 2011 california state taxes Uniformes militares. File 2011 california state taxes   Generalmente, no puede deducir el costo de uniformes si está en servicio activo a tiempo completo en las Fuerzas Armadas. File 2011 california state taxes Sin embargo, si es miembro en reserva de las Fuerzas Armadas, puede deducir el costo no reembolsado de su uniforme si los reglamentos militares exigen que su uso se limite a cuando esté en servicio como miembro en reserva. File 2011 california state taxes Al calcular la deducción, tiene que deducir del costo la asignación no gravable que reciba por estos gastos. File 2011 california state taxes   Si las reglas militares locales no le permiten que use uniformes de faena cuando no esté de servicio, puede deducir la cantidad por la cual el costo de compra y mantenimiento de estos uniformes sea superior a la asignación por uniforme que reciba. File 2011 california state taxes   Puede deducir el costo de sus uniformes si es miembro del personal o profesorado civil de una escuela militar. File 2011 california state taxes Costos de la Preparación de la Declaración de Impuestos (Línea 22) Generalmente, puede deducir los costos de la preparación de la declaración de impuestos en el año en el que los paga. File 2011 california state taxes De este modo, en la declaración de impuestos de 2013, puede deducir los costos pagados en el año 2013 por la preparación de la declaración del año 2012. File 2011 california state taxes Estos costos incluyen el costo de los programas de software de preparación de impuestos y publicaciones tributarias. File 2011 california state taxes También incluyen todo costo que haya pagado por la presentación electrónica de su declaración. File 2011 california state taxes Otros Gastos (Línea 23) Puede deducir otros gastos determinados como deducciones detalladas misceláneas sujetas al límite del 2%. File 2011 california state taxes En la línea 23 del Anexo A (Formulario 1040), puede deducir gastos que paga para: Generar o cobrar ingresos que se tienen que incluir en sus ingresos brutos, Administrar, conservar o mantener en buen estado propiedad cuya finalidad es generar un ingreso de estas características o Determinar, impugnar, pagar o solicitar un reembolso de algún impuesto. File 2011 california state taxes Puede deducir gastos que pague para los fines indicados en las secciones (1) y (2) anteriores sólo si están razonable y estrechamente relacionados con estos fines. File 2011 california state taxes Algunos de estos gastos se explican más adelante. File 2011 california state taxes Si los gastos que pague generan ingresos que sólo sean parcialmente tributables, vea Gastos de Ingresos Exentos de Impuestos más adelante, bajo Gastos no Deducibles. File 2011 california state taxes Cargos de Tasación Puede deducir cargos de tasación si los paga para calcular una pérdida por hecho fortuito o el valor justo de mercado de una propiedad donada. File 2011 california state taxes Pérdidas por Hecho Fortuito y Robo Puede deducir una pérdida por hecho fortuito o robo como una deducción detallada miscelánea sujeta al límite del 2% si utilizaba la propiedad dañada o robada para realizar servicios como empleado. File 2011 california state taxes Primero declare la pérdida en la Sección B del Formulario 4684, Casualties and Thefts (Hechos fortuitos y robos), en inglés. File 2011 california state taxes Es posible que también tenga que incluir la pérdida en el Formulario 4797, Sales of Business Property (Ventas de propiedades de negocios), también en inglés, si es que está obligado por otras razones a presentar ese formulario. File 2011 california state taxes Para calcular su deducción, sume todas las pérdidas por hecho fortuito o robo de este tipo de propiedad que se incluyan en las líneas 32 y 38b del Formulario 4684, o la línea 18a del Formulario 4797, ambos en inglés. File 2011 california state taxes Para información sobre otras pérdidas por hecho fortuito o robo, vea el capítulo 25. File 2011 california state taxes Apoyo Administrativo y Alquiler de Oficina Puede deducir gastos de oficina, (por ejemplo apoyo administrativo y alquiler), que usted incurre con respecto a sus inversiones y al cobro de los ingresos tributables generados por las mismas. File 2011 california state taxes Cargos de Tramitación por el Uso de una Tarjeta de Crédito o Débito Puede deducir el cargo administrativo que le cobra el tramitador de la tarjeta de crédito por efectuar un pago del impuesto sobre los ingresos (inclusive pagos del impuesto estimado) con tarjeta de crédito o débito. File 2011 california state taxes Dichos cargos son deducibles en el año en que se paguen. File 2011 california state taxes Depreciación de Computadora de Uso Doméstico Puede deducir la depreciación de su computadora de uso doméstico si la utiliza para generar ingresos (por ejemplo, para administrar sus inversiones que generen ingresos tributables). File 2011 california state taxes Por lo general, tiene que depreciar la computadora según el método uniforme durante el período de recuperación del Sistema Alternativo de Depreciación (ADS, por sus siglas en inglés). File 2011 california state taxes Si trabaja como empleado y también utiliza la computadora en ese trabajo, vea la Publicación 946, en inglés. File 2011 california state taxes Deducciones que le Sobran de un Caudal Hereditario Si las deducciones totales de un caudal hereditario en su año tributario anterior son superiores a su ingreso bruto de ese año, los beneficiarios que heredan la propiedad pueden deducir la cantidad que le sobró en exceso. File 2011 california state taxes No incluya las deducciones por la exención personal del caudal hereditario y las donaciones con fines benéficos al calcular las deducciones totales del caudal hereditario. File 2011 california state taxes Los beneficiarios pueden reclamar la deducción sólo para el año tributario en el que, o con el que, termina el caudal hereditario, sea el año final un año normal o un año tributario corto. File 2011 california state taxes Para obtener más información, vea Termination of Estate (Terminación de un caudal hereditario) en la Publicación 559, Survivors, Executors, and Administrators (Sobrevivientes, albaceas y administradores), en inglés. File 2011 california state taxes Cargos del Cobro de Intereses y Dividendos Puede deducir cargos que paga a un agente de bolsa, banco, fideicomisario o agente parecido por el cobro de los intereses de los bonos o dividendos de acciones tributables. File 2011 california state taxes Sin embargo, no puede deducir un cargo que pague a un agente de bolsa para comprar bienes de inversión, como acciones o bonos. File 2011 california state taxes Tiene que agregar el cargo al costo de los bienes. File 2011 california state taxes No puede deducir el cargo que pague a un agente de bolsa para vender valores. File 2011 california state taxes Puede usar el cargo sólo para calcular las pérdidas o ganancias de la venta. File 2011 california state taxes Vea las Instrucciones del Formulario 8949, para obtener información sobre cómo declarar el cargo. File 2011 california state taxes Gastos Relacionados con un Pasatiempo Por lo general, puede deducir gastos relacionados con un pasatiempo, pero sólo hasta la cantidad del ingreso generado por el mismo. File 2011 california state taxes Un pasatiempo no es un negocio porque no se realiza para obtener un beneficio económico. File 2011 california state taxes Consulte Actividad sin fines de lucro en el capítulo 12 bajo Otros Ingresos. File 2011 california state taxes Deducciones Indirectas de Entidades que Traspasan los Atributos Tributarios Las entidades que traspasan los atributos tributarios incluyen sociedades colectivas, sociedades anónimas de tipo S y fondos mutuos que no se ofrecen al público. File 2011 california state taxes Las deducciones de dichas entidades se traspasan a los socios o accionistas. File 2011 california state taxes Los socios o accionistas pueden deducir su parte de las deducciones traspasadas para gastos de inversión como deducciones detalladas misceláneas sujetas al límite del 2%. File 2011 california state taxes Ejemplo. File 2011 california state taxes Usted es miembro de un club de inversiones formado exclusivamente para invertir en valores. File 2011 california state taxes El club se considera una sociedad colectiva. File 2011 california state taxes Los ingresos de la sociedad colectiva provienen exclusivamente de dividendos, intereses y ganancias tributables procedentes de la venta de valores. File 2011 california state taxes En este caso, usted puede deducir su parte de los gastos de operación de la sociedad colectiva como deducciones detalladas misceláneas sujetas al límite del 2%. File 2011 california state taxes No obstante, si el club de inversiones tiene inversiones que generan ingresos no tributables también, no puede deducir su parte de los gastos que generan ingresos no tributables. File 2011 california state taxes Fondos mutuos de oferta pública. File 2011 california state taxes   Los fondos mutuos de oferta pública no traspasan deducciones por gastos de inversión a los accionistas. File 2011 california state taxes Un fondo mutuo es “de oferta pública” si: Se comercializa continuamente en virtud de una oferta pública, Se cotiza habitualmente en un mercado bursátil de valores establecido o Están bajo la propiedad de al menos 500 personas en todo momento durante el año tributario. File 2011 california state taxes   El fondo mutuo de oferta pública le enviará un Formulario 1099-DIV, Dividends and Distributions (Dividendos y distribuciones), en inglés, o un formulario sustitutivo, que indique la cantidad neta del ingreso de dividendos (dividendos brutos menos gastos de inversión). File 2011 california state taxes Esta cifra neta es la cantidad que declara como ingresos. File 2011 california state taxes Usted no puede también deducir los gastos de inversión incurridos por fondos mutuos de oferta pública porque ya se incluyen como parte de la cantidad neta del ingreso de dividendos. File 2011 california state taxes Declaraciones informativas. File 2011 california state taxes   Las entidades que traspasan los atributos tributarios deben enviarle declaraciones informativas. File 2011 california state taxes Sociedades colectivas y de tipo S. File 2011 california state taxes   Estas entidades generan el Anexo K-1, el cual indica los conceptos y las cantidades que tiene que declarar y también identifica los anexos y las líneas de la declaración de impuestos que se deben usar. File 2011 california state taxes Fondos mutuos que no son de oferta pública. File 2011 california state taxes   Estos fondos le enviarán un Formulario 1099-DIV, Dividends and Distributions (Dividendos y distribuciones), o un formulario sustitutivo, el cual indicará su parte de los ingresos brutos y los gastos de inversión. File 2011 california state taxes Puede declarar los gastos sólo como una deducción detallada miscelánea sujeta al límite del 2%. File 2011 california state taxes Cargos y Gastos Relacionados con la Inversión Puede deducir cargos relacionados con la inversión, custodia, administración de fideicomiso y otros gastos que pague por la administración de inversiones que generen ingresos tributables. File 2011 california state taxes Gastos Legales Por lo general, puede deducir gastos legales en los que incurra al intentar generar o cobrar ingresos tributables o que pague en conexión con la determinación, cobro o reembolso de un impuesto. File 2011 california state taxes También puede deducir gastos legales que: Estén relacionados con la realización o conservación de su trabajo, como los que pague para defenderse contra acusaciones penales que se levanten por las acciones de su oficio o negocio, Sean para asesoría tributaria relacionada con un divorcio, si la factura indica cuánto corresponde a la asesoría tributaria y se determina de una forma razonable o Sean para cobrar una pensión tributable para el cónyuge divorciado. File 2011 california state taxes Puede deducir los gastos que incurrió para resolver problemas tributarios relacionados con las pérdidas o ganancias de un negocio (Anexo C o C-EZ), alquileres o regalías (Anexo E) o gastos e ingresos agrícolas (Anexo F) en el anexo apropiado, todos en inglés. File 2011 california state taxes Debe deducir los gastos que incurrió para resolver problemas tributarios no comerciales en el Anexo A (Formulario 1040). File 2011 california state taxes Vea Costos de la Preparación de la Declaración de Impuestos , anteriormente. File 2011 california state taxes Pérdidas de Depósitos Para obtener información acerca de si puede deducir la pérdida de un depósito que usted hizo en una institución financiera que reúna los requisitos y cómo declarar la deducción si tiene derecho a ella, vea Pérdidas de Depósitos en el capítulo 25. File 2011 california state taxes Reintegros de Ingresos Si tuvo que reintegrar una cantidad que incluyó como ingresos en un año anterior, es posible que pueda deducir dicha cantidad reintegrada. File 2011 california state taxes Si la cantidad que tuvo que reintegrar era ingreso ordinario de $3,000 o menos, la deducción está sujeta al límite del 2%. File 2011 california state taxes Si fue más de $3,000, vea Reintegros por la Reclamación de un Derecho bajo Deducciones no Sujetas al Límite del 2%, más adelante. File 2011 california state taxes Reintegros de Beneficios del Seguro Social Para obtener información acerca de cómo deducir los reintegros de ciertos beneficios del Seguro Social, vea Reintegros Superiores a los Beneficios Brutos en el capítulo 11. File 2011 california state taxes Alquiler de Caja de Seguridad Puede deducir el alquiler de una caja de seguridad si la utiliza para almacenar bonos y acciones que generen ingresos tributables o documentos y papeles relacionados con inversiones. File 2011 california state taxes No puede deducir el alquiler si sólo utiliza la caja para guardar joyas, otras pertenencias personales o valores exentos de impuestos. File 2011 california state taxes Cargos Administrativos de los Planes de Reinversión de Dividendos Puede deducir los cargos administrativos que pague como abonado a un plan de reinversión de dividendos. File 2011 california state taxes Estos cargos administrativos incluyen pagos por: Poseer acciones adquiridas mediante un plan, Cobrar y reinvertir dividendos en efectivo, y Mantener documentación personal y proporcionar estados de cuenta detallados. File 2011 california state taxes Honorarios por Administración de un Fideicomiso de Arreglos IRA Los honorarios de administración de un fideicomiso que se facturen por separado y que usted pague en relación con un arreglo de ahorros para la jubilación (IRA, por sus siglas en inglés) son deducibles (si son ordinarios y necesarios) como deducción detallada miscelánea sujeta al límite del 2%. File 2011 california state taxes Para obtener más información acerca de los arreglos IRA, vea el capítulo 17. File 2011 california state taxes Deducciones no Sujetas al Límite del 2% Puede deducir los artículos indicados a continuación como deducciones detalladas misceláneas. File 2011 california state taxes No están sujetas al límite del 2%. File 2011 california state taxes Declare estos artículos en la línea 28 del Anexo A del Formulario 1040. File 2011 california state taxes Lista de Deducciones Se explica cada uno de los siguientes artículos en detalle después de la lista (excepto cuando se indica al contrario). File 2011 california state taxes Prima amortizable de bonos tributables. File 2011 california state taxes Pérdidas por hecho fortuito y robo de una propiedad que genera ingresos. File 2011 california state taxes Impuesto federal sobre la herencia atribuible a los ingresos de un difunto. File 2011 california state taxes Pérdidas de apuestas y juegos de azar hasta la cantidad de sus ganancias del juego. File 2011 california state taxes Gastos del trabajo relacionados con los impedimentos de personas con incapacidades. File 2011 california state taxes Pérdida por otras actividades anotadas en el recuadro 2 del Anexo K-1 del Formulario 1065-B. File 2011 california state taxes Pérdidas por estafas de inversiones engañosas tipo Ponzi. File 2011 california state taxes Vea, Pérdidas proveneintes de estafas de inversiones del tipo Ponzi (Ponzi schemes) , en el capítulo 25. File 2011 california state taxes Reintegros de más de $3,000 por la reclamación de un derecho. File 2011 california state taxes Inversión no recuperada en una anualidad. File 2011 california state taxes Prima Amortizable de Bonos Tributables En general, si la cantidad que paga por un bono es superior a la cantidad de capital estipulado, el excedente corresponde a la prima de los bonos. File 2011 california state taxes Puede optar por amortizar la prima de bonos tributables. File 2011 california state taxes Por lo general, la amortización de la prima compensa los ingresos de intereses sobre el bono en lugar de ser una deducción diferente. File 2011 california state taxes Parte de la prima de algunos bonos puede ser una deducción miscelánea no sujeta al límite del 2%. File 2011 california state taxes Para obtener más información, vea Amortizable Premium on Taxable Bonds (Prima amortizable de bonos tributables) en la Publicación 529 y Bond Premium Amortization (Amortización de prima de bono) en el capítulo 3 de la Publicación 550, Investment Income and Expenses (Gastos e ingresos de inversión), ambas en inglés. File 2011 california state taxes Pérdidas por Hecho Fortuito y Robo de Propiedad que Genera Ingresos Puede deducir una pérdida por hecho fortuito o robo como deducción detallada miscelánea no sujeta al límite del 2% si la propiedad dañada o robada era una propiedad que generaba ingresos (propiedad que se tiene con fines de inversión, tal como acciones, pagarés, bonos, oro, plata, terrenos sin construir y obras de arte). File 2011 california state taxes Primero, declare la pérdida en la Sección B del Formulario 4684. File 2011 california state taxes Asimismo, es posible que tenga que incluir la pérdida en el Formulario 4797, Sales of Business Property (Ventas de bienes comerciales), en inglés, si por algún otro motivo está obligado a presentar ese formulario. File 2011 california state taxes Para calcular su deducción, sume todas las pérdidas por hecho fortuito o robo de este tipo de propiedad que se incluyan en las líneas 32 y 38b del Formulario 4684, o la línea 18a del Formulario 4797. File 2011 california state taxes Para obtener más información acerca de las pérdidas por hecho fortuito y robo, consulte el capítulo 25. File 2011 california state taxes Impuesto Federal sobre la Herencia Atribuible a los Ingresos de un Difunto Puede deducir el impuesto federal sobre la herencia atribuible a los ingresos de un difunto que usted, como beneficiario, incluye en sus ingresos brutos. File 2011 california state taxes Los ingresos de un difunto son ingresos brutos que habría recibido éste si no hubiese fallecido y que no se podían incluir debidamente en la última declaración de impuestos del difunto. File 2011 california state taxes Vea la Publicación 559, en inglés, para obtener más información. File 2011 california state taxes Pérdidas de Apuestas y Juegos de Azar hasta la Cantidad de sus Ganancias de Juego Tiene que declarar la cantidad total de sus ganancias de apuestas y juegos de azar que tuvo en el año en la línea 21 del Formulario 1040. File 2011 california state taxes Debe deducir sus pérdidas de juego que tuvo en el año en la línea 28 del Anexo A del Formulario 1040. File 2011 california state taxes No puede deducir las pérdidas de apuestas y juegos de azar que sean superiores a las ganancias. File 2011 california state taxes No puede reducir las ganancias de apuestas y juegos de azar por las pérdidas de juego y declarar la diferencia. File 2011 california state taxes Tiene que declarar la cantidad total de las ganancias como ingresos, y las pérdidas (hasta la cantidad de su ganancias), como deducción detallada. File 2011 california state taxes Por consiguiente, su documentación debe mostrar las ganancias por separado de las pérdidas. File 2011 california state taxes Diario de ganancias y pérdidas. File 2011 california state taxes Tiene que mantener un diario exacto o registro parecido de sus ganancias y pérdidas provenientes de apuestas y juegos de azar. File 2011 california state taxes Su diario debe contener, como mínimo, la siguiente información: La fecha y el tipo de apuesta específica o actividad de apuestas. File 2011 california state taxes El nombre y la dirección o ubicación del establecimiento de apuestas. File 2011 california state taxes Los nombres de otras personas que lo acompañan en el establecimiento de apuestas. File 2011 california state taxes La (o las) cantidad(es) que ganó o perdió. File 2011 california state taxes Vea la Publicación 529, en inglés, para información adicional. File 2011 california state taxes Gastos de Trabajo Relacionados con un Impedimento Si tiene una incapacidad física o mental que limite su capacidad para trabajar o limite sustancialmente una o más de las actividades principales de la vida (como realizar tareas manuales, caminar, hablar, respirar, aprender y trabajar), puede deducir sus gastos de trabajo relacionados con dicho impedimento. File 2011 california state taxes Los gastos de trabajo relacionados con un impedimento son gastos ordinarios y necesarios del negocio incurridos por servicios de un asistente en su lugar de trabajo y por otros gastos relacionados con su lugar de trabajo que sean necesarios para que pueda trabajar. File 2011 california state taxes Personas que trabajan por cuenta propia. File 2011 california state taxes   Si trabaja por cuenta propia, anote los gastos de trabajo relacionados con su incapacidad en el formulario correspondiente (Anexo C, C-EZ, E o F) que utilice para declarar los ingresos y gastos de negocio. File 2011 california state taxes Pérdida por Otras Actividades Anotadas en el Recuadro 2 del Anexo K-1 del Formulario 1065-B Si la cantidad declarada en el recuadro 2 del Anexo K-1 del Formulario 1065-B es una pérdida, declárela en la línea 28 del Anexo A del Formulario 1040. File 2011 california state taxes No está sujeto a las limitaciones de actividades pasivas. File 2011 california state taxes Reintegros por la Reclamación de un Derecho Si tuvo que reintegrar más de $3,000 que incluyó en los ingresos de un año anterior porque en ese momento pensaba que tenía un derecho no restringido a dichos ingresos, tal vez pueda deducir la cantidad que pagó o solicitar que se la acrediten en sus impuestos. File 2011 california state taxes Vea Reintegros en el capítulo 12, para más información. File 2011 california state taxes Inversión no Recuperada en una Anualidad Un jubilado que haya contribuido al costo de una anualidad puede excluir de sus ingresos parte de cada pago que reciba, por ser rendimiento exento de impuestos de la inversión del jubilado. File 2011 california state taxes Si el jubilado muere antes de recuperar toda la inversión libre de impuestos, se podría deducir toda inversión no recuperada en la declaración final de impuestos del jubilado. File 2011 california state taxes Vea el capítulo 10 para obtener más información acerca del trato tributario de las pensiones y anualidades. File 2011 california state taxes Gastos no Deducibles A continuación se enumeran algunos ejemplos de gastos no deducibles. File 2011 california state taxes Luego, se explican en mayor detalle los gastos no deducibles adicionales. File 2011 california state taxes Lista de Gastos no Deducibles Comisiones de agentes bursátiles que usted pagó con respecto a su arreglo IRA u otra propiedad de inversión. File 2011 california state taxes Gastos de entierro o funeral, incluido el costo de la tumba. File 2011 california state taxes Gastos de capital. File 2011 california state taxes Cargos y licencias, como licencias de automóvil, de matrimonio y placas de identificación. File 2011 california state taxes Pérdidas relacionadas con pasatiempos; no obstante, vea Gastos Relacionados con un Pasatiempo , anteriormente. File 2011 california state taxes Reparaciones, seguro y alquiler de la vivienda. File 2011 california state taxes Sobornos y comisiones clandestinas. File 2011 california state taxes Vea Bribes and kickbacks (Sobornos y comisiones clandestinas) en el capítulo 11 de la Publicación 535, en inglés. File 2011 california state taxes Pérdidas de la venta de su vivienda, mobiliario, automóvil personal, etc. File 2011 california state taxes Primas de seguro personal por incapacidad. File 2011 california state taxes Gastos personales, de vida o familiares. File 2011 california state taxes Valor de salarios no recibidos o período de vacaciones no utilizadas. File 2011 california state taxes Gastos de Adopción No puede deducir los gastos que incurre en la adopción de un niño, pero tal vez pueda tomar un crédito para esos gastos. File 2011 california state taxes Vea el capítulo 36. File 2011 california state taxes Gastos de Campaña Electoral No puede deducir gastos que un candidato para un cargo público incurre en su campaña electoral, incluso si el candidato está postulando para la reelección a dicho cargo. File 2011 california state taxes Estos incluyen cargos de calificación e inscripción para las elecciones primarias. File 2011 california state taxes Honorarios legales. File 2011 california state taxes   No puede deducir honorarios legales que se pagan para defender cargos derivados de la participación en una campaña política. File 2011 california state taxes Cargos por Emisión de Cheques de Cuenta Personal Si tiene una cuenta corriente personal, no puede deducir cargos cobrados por el banco por el privilegio de emitir cheques, incluso si la cuenta devenga intereses. File 2011 california state taxes Cuotas de Clubes Por lo general, no puede deducir el costo de afiliación a un club organizado para fines comerciales, de placer, recreación u otro fin social. File 2011 california state taxes Esto incluye clubes de negocios, sociales, atléticos, de almuerzo, deportivos, de aerolíneas, hoteles, golf y de campo. File 2011 california state taxes No puede deducir cuotas pagadas a una organización si uno de los propósitos principales de ésta es: Realizar actividades sociales para los miembros o sus invitados u Ofrecer a los miembros o sus invitados acceso a establecimientos de actividades sociales. File 2011 california state taxes No se pueden deducir las cuotas pagadas a aerolíneas, hoteles o clubes de almuerzo. File 2011 california state taxes Gastos de Transporte entre su Domicilio y el Trabajo No puede deducir gastos de viaje de ida y vuelta al trabajo (el costo de su transporte entre su residencia y su lugar de trabajo principal o habitual). File 2011 california state taxes Si transporta herramientas, instrumentos u otros artículos en su automóvil de ida y vuelta a su trabajo, puede deducir sólo el costo adicional de transporte de dichos artículos, como el alquiler de un remolque para el transporte de los mismos. File 2011 california state taxes Multas o Sanciones No puede deducir multas o sanciones que pague a una oficina del gobierno por infringir una ley. File 2011 california state taxes Esto incluye cantidades pagadas para liquidar su responsabilidad real o posible de una multa o sanción (civil o penal). File 2011 california state taxes Las multas o sanciones incluyen multas de estacionamiento, sanciones tributarias y sanciones deducidas de su sueldo de maestro después de una huelga ilícita. File 2011 california state taxes Gastos de Balnearios No puede deducir gastos de un balneario (spa), aun si existe un requisito laboral para mantenerse en excelente condición física, como podría ser el caso de un oficial encargado del orden público. File 2011 california state taxes Sistema de Seguridad Residencial No puede deducir el costo de un sistema de seguridad residencial como una deducción miscelánea. File 2011 california state taxes Sin embargo, tal vez pueda reclamar una deducción por un sistema de seguridad residencial como gasto de negocios, si es que tiene una oficina en su casa. File 2011 california state taxes Vea Oficina en el Domicilio bajo Gastos del Empleado no Reembolsados, anteriormente, y Security System (Sistema de seguridad) bajo Deducting Expenses (Deducción de gastos) en la Publicación 587, en inglés. File 2011 california state taxes Seminarios Relacionados con Inversiones No puede deducir gastos por asistir a una convención, seminario o reunión parecida para fines de inversión. File 2011 california state taxes Primas de Seguro de Vida No puede deducir primas que pague por su propio seguro de vida. File 2011 california state taxes Tal vez pueda deducir como pensión para el cónyuge divorciado primas que pague por las pólizas de seguro de vida asignadas a su ex-cónyuge. File 2011 california state taxes Consulte el capítulo 18 para información sobre la pensión alimenticia. File 2011 california state taxes Gastos de Cabildeo Por lo general, no puede deducir cantidades pagadas o incurridas por concepto de cabildeo. File 2011 california state taxes Estos incluyen gastos para: Influenciar el proceso de legislación, Participar o intervenir en una campaña política a favor o en contra de un candidato a un cargo público, Intentar influenciar al público en general, o a un segmento del público, respecto a las elecciones, materias legislativas o referéndums o Comunicarse directamente con funcionarios del poder ejecutivo bajo protección en un intento de influenciar las acciones del funcionario o las opiniones del mismo. File 2011 california state taxes Los gastos de cabildeo también incluyen cantidades pagadas o gastos en los que ha incurrido para la investigación, preparación, planificación o coordinación de cualquiera de estas actividades. File 2011 california state taxes Cuotas usadas para cabildeo. File 2011 california state taxes   Si una organización exenta de impuestos le notifica que esa parte de las cuotas u otras cantidades que usted paga a la organización se utilizan para pagar gastos de cabildeo no deducibles, no puede deducir esa parte de las cuotas. File 2011 california state taxes Vea Lobbying Expenses (Gastos de cabildeo) en la Publicación 529, en inglés, para obtener información sobre las excepciones. File 2011 california state taxes Dinero en Efectivo o Bienes Perdidos o Extraviados No puede deducir una pérdida basada en la simple desaparición de dinero o bienes. File 2011 california state taxes Sin embargo, una pérdida o desaparición accidental de bienes puede considerarse hecho fortuito si es causada por un acontecimiento que se pueda identificar y que sea repentino, inesperado o poco común. File 2011 california state taxes Vea el capítulo 25. File 2011 california state taxes Ejemplo. File 2011 california state taxes Se cierra una puerta de su automóvil accidentalmente en su mano y rompe el engaste de su anillo de diamante. File 2011 california state taxes El diamante se cae del anillo y nunca lo pudo encontrar. File 2011 california state taxes La pérdida del diamante es un hecho fortuito. File 2011 california state taxes Almuerzos con Compañeros de Trabajo No puede deducir los gastos de almuerzos con compañeros de trabajo, excepto si viaja lejos de casa por razones comerciales. File 2011 california state taxes Vea el capítulo 26 para obtener información acerca de los gastos deducibles mientras se encuentra lejos de su domicilio. File 2011 california state taxes Comidas Cuando Trabaja Hasta Tarde No puede deducir el costo de comidas si trabaja hasta tarde. File 2011 california state taxes Sin embargo, tal vez pueda declarar una deducción si el costo de las comidas es un gasto de entretenimiento deducible o si viaja lejos de casa. File 2011 california state taxes Vea el capítulo 26 para obtener información sobre gastos de entretenimiento deducibles y gastos durante viajes lejos de su domicilio. File 2011 california state taxes Gastos por Asuntos Legales Personales No puede deducir gastos por asuntos legales personales, como aquéllos en los que se ha incurrido en los siguientes casos: Tutoría de hijos. File 2011 california state taxes Demanda por incumplimiento de promesa de matrimonio. File 2011 california state taxes Cargos civiles o penales derivados de una relación personal. File 2011 california state taxes Daños por lesiones personales, a excepción de ciertas reclamaciones por discriminación ilegal y por denuncia de actividades ilícitas en una empresa. File 2011 california state taxes Preparación de un título (o defensa o perfeccionamiento de un título). File 2011 california state taxes Preparación de un testamento. File 2011 california state taxes Reclamaciones de propiedad o liquidación de propiedad en un divorcio. File 2011 california state taxes No puede deducir estos gastos incluso si una consecuencia del proceso legal es la pérdida de propiedad que genera ingresos. File 2011 california state taxes Donaciones Políticas No puede deducir donaciones hechas a un candidato político, un comité de campaña o un fondo para publicar boletines. File 2011 california state taxes Los avisos publicitarios en programas de convenciones y entradas a cenas o programas que benefician a un partido o candidato político no son deducibles. File 2011 california state taxes Costos de Acreditación Profesional No puede deducir costos de acreditación profesional tales como: Costos de certificado de contabilidad pagados para el derecho inicial de poder practicar la contabilidad. File 2011 california state taxes Costos del examen para el ejercicio de la abogacía y gastos afines para asegurarse el ingreso inicial al colegio de abogados. File 2011 california state taxes Costos de licencias médicas y dentales para obtener la primera licencia de ejercicio de la profesión. File 2011 california state taxes Reputación Profesional No puede deducir gastos por salir en un programa de radio o televisión para aumentar su prestigio personal o establecer su reputación profesional. File 2011 california state taxes Aportaciones a un Fondo de Ayuda Económica No puede deducir aportaciones pagadas a un plan privado que pague beneficios a los empleados cubiertos que no puedan trabajar debido a una lesión o enfermedad no relacionada con el trabajo. File 2011 california state taxes Servicio Telefónico Residencial No puede deducir un cobro (incluidos impuestos) por un servicio telefónico local básico de la línea telefónica principal de su residencia, aun cuando se utilice en una ocupación o negocio. File 2011 california state taxes Reuniones de Accionistas No puede deducir gastos de transporte ni otros que paga para asistir a reuniones de accionistas de empresas en las que tiene participación accionaria, pero no de otra índole. File 2011 california state taxes No puede deducir estos gastos aunque asista a la reunión para obtener información que podría ser útil al efectuar otras inversiones. File 2011 california state taxes Gastos de Ingresos Exentos de Impuestos No puede deducir gastos que incurre para generar ingresos exentos de impuestos. File 2011 california state taxes No puede deducir intereses de una deuda en la que haya incurrido o continúa para comprar o portar valores exentos de impuestos. File 2011 california state taxes Si usted incurre gastos para generar ingresos tributables y exentos de impuestos, pero no puede identificar los gastos que generan cada tipo de ingreso, tiene que dividir los gastos según la cantidad de cada tipo de ingreso para determinar la cantidad que puede deducir. File 2011 california state taxes Ejemplo. File 2011 california state taxes Durante el año recibió intereses tributables de $4,800 e intereses exentos de impuestos de $1,200. File 2011 california state taxes Al obtener este ingreso, tuvo un total de gastos de $500 durante el año. File 2011 california state taxes No puede identificar la cantidad de cada gasto correspondiente a cada ingreso. File 2011 california state taxes Por lo tanto, el 80% ($4,800/$6,000) del gasto corresponde a los intereses tributables y el 20% ($1,200/$6,000) corresponde a los intereses exentos de impuestos. File 2011 california state taxes Puede deducir, sujeto al límite del 2%, gastos de $400 (80% de $500). File 2011 california state taxes Gastos de Viaje para Otra Persona Por lo general, no puede deducir los gastos de viaje que pague o en los que incurra para su cónyuge, dependiente, u otra persona que lo acompañe (o su empleado) en un viaje de negocios o por motivos personales, a menos que el cónyuge, el dependiente, o la otra persona sea un empleado del contribuyente; el viaje sea para un propósito comercial de buena fe (bona fide); y tales gastos serían de otra manera deducibles por el cónyuge, dependiente u otra persona. File 2011 california state taxes Vea el capítulo 26 para más información sobre gastos de viaje deducibles. File 2011 california state taxes Aportaciones Voluntarias al Fondo de Beneficios por Desempleo No puede deducir aportaciones voluntarias al fondo de beneficios por desempleo que usted realice a un fondo sindical o a un fondo privado. File 2011 california state taxes Sin embargo, puede deducir las aportaciones como impuestos si la ley estatal le exige que las haga a un fondo de desempleo del estado que le protege de la pérdida de sueldos por desempleo causado por condiciones comerciales. File 2011 california state taxes Relojes de Pulsera No puede deducir el costo de un reloj de pulsera, incluso si existe un requisito laboral que establezca que tiene que saber la hora correcta para realizar sus funciones de manera adecuada. File 2011 california state taxes Prev  Up  Next   Home   More Online Publications
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The File 2011 California State Taxes

File 2011 california state taxes Publication 1212 - Main Content Table of Contents Definitions Debt Instruments on the OID List Debt Instruments Not on the OID List Information for Brokers and Other MiddlemenShort-Term Obligations Redeemed at Maturity Long-Term Debt Instruments Certificates of Deposit Bearer Bonds and Coupons Backup Withholding Information for Owners of OID Debt InstrumentsExceptions. File 2011 california state taxes Adjustment for premium. File 2011 california state taxes Adjustment for acquisition premium. File 2011 california state taxes Adjustment for market discount. File 2011 california state taxes Form 1099-OID How To Report OID Figuring OID on Long-Term Debt Instruments Figuring OID on Stripped Bonds and Coupons How To Get Tax HelpLow Income Taxpayer Clinics Definitions The following terms are used throughout this publication. File 2011 california state taxes “Original issue discount” is defined first. File 2011 california state taxes The other terms are listed alphabetically. File 2011 california state taxes Original issue discount (OID). File 2011 california state taxes   OID is a form of interest. File 2011 california state taxes It is the excess of a debt instrument's stated redemption price at maturity over its issue price (acquisition price for a stripped bond or coupon). File 2011 california state taxes Zero coupon bonds and debt instruments that pay no stated interest until maturity are examples of debt instruments that have OID. File 2011 california state taxes Accrual period. File 2011 california state taxes   An accrual period is an interval of time used to measure OID. File 2011 california state taxes The length of an accrual period can be 6 months, a year, or some other period, depending on when the debt instrument was issued. File 2011 california state taxes Acquisition premium. File 2011 california state taxes   Acquisition premium is the excess of a debt instrument's adjusted basis immediately after purchase, including purchase at original issue, over the debt instrument's adjusted issue price at that time. File 2011 california state taxes A debt instrument does not have acquisition premium, however, if the debt instrument was purchased at a premium. File 2011 california state taxes See Premium, later. File 2011 california state taxes Adjusted issue price. File 2011 california state taxes   The adjusted issue price of a debt instrument at the beginning of an accrual period is used to figure the OID allocable to that period. File 2011 california state taxes In general, the adjusted issue price at the beginning of the debt instrument's first accrual period is its issue price. File 2011 california state taxes The adjusted issue price at the beginning of any subsequent accrual period is the sum of the issue price and all the OID includible in income before that accrual period minus any payment previously made on the debt instrument, other than a payment of qualified stated interest. File 2011 california state taxes Debt instrument. File 2011 california state taxes   The term “debt instrument” means any instrument or contractual arrangement that constitutes indebtedness under general principles of federal income tax law (including, for example, a bond, debenture, note, certificate, or other evidence of indebtedness). File 2011 california state taxes It generally does not include an annuity contract. File 2011 california state taxes Issue price. File 2011 california state taxes   For debt instruments listed in Section I-A and Section I-B, the issue price generally is the initial offering price to the public (excluding bond houses and brokers) at which a substantial amount of these instruments was sold. File 2011 california state taxes Market discount. File 2011 california state taxes   Market discount arises when a debt instrument purchased in the secondary market has decreased in value since its issue date, generally because of an increase in interest rates. File 2011 california state taxes An OID debt instrument has market discount if your adjusted basis in the debt instrument immediately after you acquired it (usually its purchase price) was less than the debt instrument's issue price plus the total OID that accrued before you acquired it. File 2011 california state taxes The market discount is the difference between the issue price plus accrued OID and your adjusted basis. File 2011 california state taxes Premium. File 2011 california state taxes   A debt instrument is purchased at a premium if its adjusted basis immediately after purchase is greater than the total of all amounts payable on the debt instrument after the purchase date, other than qualified stated interest. File 2011 california state taxes The premium is the excess of the adjusted basis over the payable amounts. File 2011 california state taxes See Publication 550 for information on the tax treatment of bond premium. File 2011 california state taxes Qualified stated interest. File 2011 california state taxes   In general, qualified stated interest is stated interest that is unconditionally payable in cash or property (other than debt instruments of the issuer) at least annually over the term of the debt instrument at a single fixed rate. File 2011 california state taxes Stated redemption price at maturity. File 2011 california state taxes   A debt instrument's stated redemption price at maturity is the sum of all amounts (principal and interest) payable on the debt instrument other than qualified stated interest. File 2011 california state taxes Yield to maturity (YTM). File 2011 california state taxes   In general, the YTM is the discount rate that, when used in figuring the present value of all principal and interest payments, produces an amount equal to the issue price of the debt instrument. File 2011 california state taxes The YTM is generally shown on the face of the debt instrument or in the literature you receive from your broker. File 2011 california state taxes If you do not have this information, consult your broker, tax advisor, or the issuer. File 2011 california state taxes Debt Instruments on the OID List The OID list on the IRS website can be used by brokers and other middlemen to prepare information returns. File 2011 california state taxes If you own a listed debt instrument, you generally should not rely on the information in the OID list to determine (or compare) the OID to be reported on your tax return. File 2011 california state taxes The OID amounts listed are figured without reference to the price or date at which you acquired the debt instrument. File 2011 california state taxes For information about determining the OID to be reported on your tax return, see the instructions for figuring OID under Information for Owners of OID Debt Instruments, later. File 2011 california state taxes The following discussions explain what information is contained in each section of the list. File 2011 california state taxes Section I. File 2011 california state taxes   This section contains publicly offered, long-term debt instruments. File 2011 california state taxes Section I-A: Corporate Debt Instruments Issued Before 1985. File 2011 california state taxes Section I-B: Corporate Debt Instruments Issued After 1984. File 2011 california state taxes Section I-C: Inflation-Indexed Debt Instruments. File 2011 california state taxes For each publicly offered debt instrument in Section I, the list contains the following information. File 2011 california state taxes The name of the issuer. File 2011 california state taxes The Committee on Uniform Security Identification Procedures (CUSIP) number. File 2011 california state taxes The issue date. File 2011 california state taxes The maturity date. File 2011 california state taxes The issue price expressed as a percent of principal or of stated redemption price at maturity. File 2011 california state taxes The annual stated or coupon interest rate. File 2011 california state taxes (This rate is shown as 0. File 2011 california state taxes 00 if no annual interest payments are provided. File 2011 california state taxes ) The yield to maturity will be added to Section I-B for bonds issued after December 31, 2006. File 2011 california state taxes The total OID accrued up to January 1 of a calendar year. File 2011 california state taxes (This information is not available for every instrument. File 2011 california state taxes ) For long-term debt instruments issued after July 1, 1982, the daily OID for the accrual periods falling in a calendar year and a subsequent year. File 2011 california state taxes The total OID per $1,000 of principal or maturity value for a calendar year and a subsequent year. File 2011 california state taxes Section II. File 2011 california state taxes   This section contains stripped coupons and principal components of U. File 2011 california state taxes S. File 2011 california state taxes Treasury and Government-Sponsored Enterprise debt instruments. File 2011 california state taxes These stripped components are available through the Department of the Treasury's Separate Trading of Registered Interest and Principal of Securities (STRIPS) program and government-sponsored enterprises such as the Resolution Funding Corporation. File 2011 california state taxes This section also includes debt instruments backed by U. File 2011 california state taxes S. File 2011 california state taxes Treasury securities that represent ownership interests in those securities. File 2011 california state taxes   The obligations listed in Section II are arranged by maturity date. File 2011 california state taxes The amounts listed are the total OID for a calendar year per $1,000 of redemption price. File 2011 california state taxes Section III. File 2011 california state taxes   This section contains short-term discount obligations. File 2011 california state taxes Section III-A: Short-Term U. File 2011 california state taxes S. File 2011 california state taxes Treasury Bills. File 2011 california state taxes Section III-B: Federal Home Loan Banks. File 2011 california state taxes Section III-C: Federal National Mortgage Association. File 2011 california state taxes Section III-D: Federal Farm Credit Banks. File 2011 california state taxes Section III-E: Federal Home Loan Mortgage Corporation. File 2011 california state taxes Section III-F: Federal Agricultural Mortgage Corporation. File 2011 california state taxes    Information that supplements Section III-A is available on the Internet at http://www. File 2011 california state taxes treasurydirect. File 2011 california state taxes gov/tdhome. File 2011 california state taxes htm. File 2011 california state taxes   The short-term obligations listed in this section are arranged by maturity date. File 2011 california state taxes For each obligation, the list contains the CUSIP number, maturity date, issue date, issue price (expressed as a percent of principal), and discount to be reported as interest for a calendar year per $1,000 of redemption price. File 2011 california state taxes Brokers and other middlemen should rely on the issue price information in Section III only if they are unable to determine the price actually paid by the owner. File 2011 california state taxes Debt Instruments Not on the OID List The list of debt instruments discussed earlier does not contain the following items. File 2011 california state taxes U. File 2011 california state taxes S. File 2011 california state taxes savings bonds. File 2011 california state taxes Certificates of deposit and other face-amount certificates issued at a discount, including syndicated certificates of deposit. File 2011 california state taxes Obligations issued by tax-exempt organizations. File 2011 california state taxes OID debt instruments that matured or were entirely called by the issuer before the tables were posted on the IRS website. File 2011 california state taxes Mortgage-backed securities and mortgage participation certificates. File 2011 california state taxes Long-term OID debt instruments issued before May 28, 1969. File 2011 california state taxes Short-term obligations, other than the obligations listed in Section III. File 2011 california state taxes Debt instruments issued at a discount by states or their political subdivisions. File 2011 california state taxes REMIC regular interests and CDOs. File 2011 california state taxes Commercial paper and banker's acceptances issued at a discount. File 2011 california state taxes Obligations issued at a discount by individuals. File 2011 california state taxes Foreign obligations not traded in the United States and obligations not issued in the United States. File 2011 california state taxes Information for Brokers and Other Middlemen The following discussions contain specific instructions for brokers and middlemen who hold or redeem a debt instrument for the owner. File 2011 california state taxes In general, you must file a Form 1099 for the debt instrument if the interest or OID to be included in the owner's income for a calendar year totals $10 or more. File 2011 california state taxes You also must file a Form 1099 if you were required to deduct and withhold tax, even if the interest or OID is less than $10. File 2011 california state taxes See Backup Withholding, later. File 2011 california state taxes If you must file a Form 1099, furnish a copy to the owner of the debt instrument by January 31 in the year it is due. File 2011 california state taxes File all your Forms 1099 with the IRS, accompanied by Form 1096, by February 28 in the year it is due (March 31 if you file electronically). File 2011 california state taxes Electronic payee statements. File 2011 california state taxes   You can issue Form 1099-OID electronically with the consent of the recipient. File 2011 california state taxes More information. File 2011 california state taxes   For more information, including penalties for failure to file (or furnish) required information returns or statements, see the General Instructions for Certain Information Returns (Forms 1098, 1099, 3921, 3922, 5498, and W-2G) for the appropriate calendar year. File 2011 california state taxes Short-Term Obligations Redeemed at Maturity If you redeem a short-term discount obligation for the owner at maturity, you must report the discount as interest on Form 1099-INT. File 2011 california state taxes To figure the discount, use the purchase price shown on the owner's copy of the purchase confirmation receipt or similar record, or the price shown in your transaction records. File 2011 california state taxes If you sell the obligation for the owner before maturity, you must file Form 1099-B to reflect the gross proceeds to the seller. File 2011 california state taxes Do not report the accrued discount to the date of sale on either Form 1099-INT or Form 1099-OID. File 2011 california state taxes If the owner's purchase price cannot be determined, figure the discount as if the owner had purchased the obligation at its original issue price. File 2011 california state taxes A special rule is used to determine the original issue price for information reporting on U. File 2011 california state taxes S. File 2011 california state taxes Treasury bills (T-bills) listed in Section III-A. File 2011 california state taxes Under this rule, you treat as the original issue price of the T-bill the noncompetitive (weighted average of accepted auction bids) discount price for the longest-maturity T-bill maturing on the same date as the T-bill being redeemed. File 2011 california state taxes This noncompetitive discount price is the issue price (expressed as a percent of principal) shown in Section III-A. File 2011 california state taxes A similar rule is used to figure the discount on short-term discount obligations issued by the organizations listed in Section III-B through Section III-F. File 2011 california state taxes Example 1. File 2011 california state taxes There are 13-week and 26-week T-bills maturing on the same date as the T-bill being redeemed. File 2011 california state taxes The price actually paid by the owner cannot be established by owner or middleman records. File 2011 california state taxes You treat as the issue price of the T-bill the noncompetitive discount price (expressed as a percent of principal) shown in Section III-A for a 26-week bill maturing on the same date as the T-bill redeemed. File 2011 california state taxes The interest you report on Form 1099-INT is the OID (per $1,000 of principal) shown in Section III-A for that obligation. File 2011 california state taxes Long-Term Debt Instruments If you hold a long-term OID debt instrument as a nominee for the true owner, you generally must file Form 1099-OID. File 2011 california state taxes For this purpose, you can rely on Section I of the OID list to determine the following information. File 2011 california state taxes Whether a debt instrument has OID. File 2011 california state taxes The OID to be reported on the Form 1099-OID. File 2011 california state taxes In general, you must report OID on publicly offered, long-term debt instruments listed in Section I. File 2011 california state taxes You also can report OID on other long-term debt instruments. File 2011 california state taxes Form 1099-OID. File 2011 california state taxes   On Form 1099-OID for a calendar year show the following information. File 2011 california state taxes Box 1. File 2011 california state taxes The OID for the actual dates the owner held the debt instruments during a calendar year. File 2011 california state taxes To determine this amount, see Figuring OID, next. File 2011 california state taxes Box 2. File 2011 california state taxes The qualified stated interest paid or credited during the calendar year. File 2011 california state taxes Interest reported here is not reported on Form 1099-INT. File 2011 california state taxes The qualified stated interest on Treasury inflation-protected securities may be reported on Form 1099-INT in box 3 instead. File 2011 california state taxes Box 3. File 2011 california state taxes Any interest or principal forfeited because of an early withdrawal that the owner can deduct from gross income. File 2011 california state taxes Do not reduce the amounts in boxes 1 and 2 by the forfeiture. File 2011 california state taxes Box 4. File 2011 california state taxes Any backup withholding for this debt instrument. File 2011 california state taxes Box 7. File 2011 california state taxes The CUSIP number, if any. File 2011 california state taxes If there is no CUSIP number, give a description of the debt instrument, including the abbreviation for the stock exchange, the abbreviation used by the stock exchange for the issuer, the coupon rate, and the year of maturity (for example, NYSE XYZ 12. File 2011 california state taxes 50 2006). File 2011 california state taxes If the issuer of the debt instrument is other than the payer, show the name of the issuer in this box. File 2011 california state taxes Box 8. File 2011 california state taxes The OID on a U. File 2011 california state taxes S. File 2011 california state taxes Treasury obligation for the part of the year the owner held the debt instrument. File 2011 california state taxes Box 9. File 2011 california state taxes Investment expenses passed on to holders of a single-class REMIC. File 2011 california state taxes Boxes 10-12. File 2011 california state taxes Use to report any state income tax withheld for this debt instrument. File 2011 california state taxes Figuring OID. File 2011 california state taxes   You can determine the OID on a long-term debt instrument by using either of the following. File 2011 california state taxes Section I of the OID list. File 2011 california state taxes The income tax regulations. File 2011 california state taxes Using Section I. File 2011 california state taxes   If the owner held the debt instrument for the entire calendar year, report the OID shown in Section I for the calendar year. File 2011 california state taxes Because OID is listed for each $1,000 of stated redemption price at maturity, you must adjust the listed amount to reflect the debt instrument's actual stated redemption price at maturity. File 2011 california state taxes For example, if the debt instrument's stated redemption price at maturity is $500, report one-half the listed OID. File 2011 california state taxes   If the owner held the debt instrument for less than the entire calendar year, figure the OID to report as follows. File 2011 california state taxes Look up the daily OID for the first accrual period in the calendar year during which the owner held the debt instrument. File 2011 california state taxes Multiply the daily OID by the number of days the owner held the debt instrument during that accrual period. File 2011 california state taxes Repeat steps (1) and (2) for any remaining accrual periods for the year during which the owner held the debt instrument. File 2011 california state taxes Add the results in steps (2) and (3) to determine the owner's OID per $1,000 of stated redemption price at maturity. File 2011 california state taxes If necessary, adjust the OID in (4) to reflect the debt instrument's stated redemption price at maturity. File 2011 california state taxes Report the result on Form 1099-OID in box 1. File 2011 california state taxes Using the income tax regulations. File 2011 california state taxes   Instead of using Section I to figure OID, you can use the regulations under sections 1272 through 1275 of the Internal Revenue Code. File 2011 california state taxes For example, under the regulations, you can use monthly accrual periods in figuring OID for a debt instrument issued after April 3, 1994, that provides for monthly payments. File 2011 california state taxes (If you use Section I-B, the OID is figured using 6-month accrual periods. File 2011 california state taxes )   For a general explanation of the rules for figuring OID under the regulations, see Figuring OID on Long-Term Debt Instruments under Information for Owners of OID Debt Instruments, later. File 2011 california state taxes Certificates of Deposit If you hold a bank certificate of deposit (CD) as a nominee, you must determine whether the CD has OID and any OID includible in the income of the owner. File 2011 california state taxes You must file an information return showing the reportable interest and OID, if any, on the CD. File 2011 california state taxes These rules apply whether or not you sold the CD to the owner. File 2011 california state taxes Report OID on a CD in the same way as OID on other debt instruments. File 2011 california state taxes See Short-Term Obligations Redeemed at Maturity and Long-Term Debt Instruments, earlier. File 2011 california state taxes Bearer Bonds and Coupons If a coupon from a bearer bond is presented to you for collection before the bond matures, you generally must report the interest on Form 1099-INT. File 2011 california state taxes However, do not report the interest if either of the following apply. File 2011 california state taxes You hold the bond as a nominee for the true owner. File 2011 california state taxes The payee is a foreign person. File 2011 california state taxes See Payments to foreign person under Backup Withholding, later. File 2011 california state taxes Because you cannot assume the presenter of the coupon also owns the bond, you should not report OID on the bond on Form 1099-OID. File 2011 california state taxes The coupon may have been “stripped” (separated) from the bond and separately purchased. File 2011 california state taxes However, if a long-term bearer bond on the OID list is presented to you for redemption upon call or maturity, you should prepare a Form 1099-OID showing the OID for that calendar year, as well as any coupon interest payments collected at the time of redemption. File 2011 california state taxes Backup Withholding If you report OID on Form 1099-OID or interest on Form 1099-INT for a calendar year, you may be required to apply backup withholding to the reportable payment at a rate of 28%. File 2011 california state taxes The backup withholding is deducted at the time a cash payment is made. File 2011 california state taxes See Pub. File 2011 california state taxes 1281, Backup Withholding for Missing and Incorrect Name/TIN(s), for more information. File 2011 california state taxes Backup withholding generally applies in the following situations. File 2011 california state taxes The payee does not give you a taxpayer identification number (TIN). File 2011 california state taxes The IRS notifies you that the payee gave an incorrect TIN. File 2011 california state taxes The IRS notifies you that the payee is subject to backup withholding due to payee underreporting. File 2011 california state taxes For debt instruments acquired after 1983: The payee does not certify, under penalties of perjury, that he or she is not subject to backup withholding under (3), or The payee does not certify, under penalties of perjury, that the TIN given is correct. File 2011 california state taxes However, for short-term discount obligations (other than government obligations), bearer bonds and coupons, and U. File 2011 california state taxes S. File 2011 california state taxes savings bonds, backup withholding applies only if the payee does not give you a TIN or gives you an obviously incorrect number for a TIN. File 2011 california state taxes Short-term obligations. File 2011 california state taxes   Backup withholding applies to OID on a short-term obligation only when the OID is paid at maturity. File 2011 california state taxes However, backup withholding applies to any interest payable before maturity when the interest is paid or credited. File 2011 california state taxes   If the owner of a short-term obligation at maturity is not the original owner and can establish the purchase price of the obligation, the amount subject to backup withholding must be determined by treating the purchase price as the issue price. File 2011 california state taxes However, you can choose to disregard that price if it would require significant manual intervention in the computer or recordkeeping system used for the obligation. File 2011 california state taxes If the purchase price of a listed obligation is not established or is disregarded, you must use the issue price shown in Section III. File 2011 california state taxes Long-term obligations. File 2011 california state taxes   If no cash payments are made on a long-term obligation before maturity, backup withholding applies only at maturity. File 2011 california state taxes The amount subject to backup withholding is the OID includible in the owner's gross income for the calendar year when the obligation matures. File 2011 california state taxes The amount to be withheld is limited to the cash paid. File 2011 california state taxes Registered long-term obligations with cash payments. File 2011 california state taxes   If a registered long-term obligation has cash payments before maturity, backup withholding applies when a cash payment is made. File 2011 california state taxes The amount subject to backup withholding is the total of the qualified stated interest (defined earlier under Definitions) and OID includible in the owner's gross income for the calendar year when the payment is made. File 2011 california state taxes If more than one cash payment is made during the year, the OID subject to withholding for the year must be allocated among the expected cash payments in the ratio that each bears to the total of the expected cash payments. File 2011 california state taxes For any payment, the required withholding is limited to the cash paid. File 2011 california state taxes Payee not the original owner. File 2011 california state taxes   If the payee is not the original owner of the obligation, the OID subject to backup withholding is the OID includible in the gross income of all owners during the calendar year (without regard to any amount paid by the new owner at the time of transfer). File 2011 california state taxes The amount subject to backup withholding at maturity of a listed obligation must be determined using the issue price shown in Section I. File 2011 california state taxes Bearer long-term obligations with cash payments. File 2011 california state taxes   If a bearer long-term obligation has cash payments before maturity, backup withholding applies when the cash payments are made. File 2011 california state taxes For payments before maturity, the amount subject to withholding is the qualified stated interest (defined earlier under Definitions) includible in the owner's gross income for the calendar year. File 2011 california state taxes For a payment at maturity, the amount subject to withholding is only the total of any qualified stated interest paid at maturity and the OID includible in the owner's gross income for the calendar year when the obligation matures. File 2011 california state taxes The required withholding at maturity is limited to the cash paid. File 2011 california state taxes Sales and redemptions. File 2011 california state taxes   If you report the gross proceeds from a sale, exchange, or redemption of a debt instrument on Form 1099-B for a calendar year, you may be required to withhold 28% of the amount reported. File 2011 california state taxes Backup withholding applies in the following situations. File 2011 california state taxes The payee does not give you a TIN. File 2011 california state taxes The IRS notifies you that the payee gave an incorrect TIN. File 2011 california state taxes For debt instruments held in an account opened after 1983, the payee does not certify, under penalties of perjury, that the TIN given is correct. File 2011 california state taxes Payments outside the United States to U. File 2011 california state taxes S. File 2011 california state taxes person. File 2011 california state taxes   The requirements for backup withholding and information reporting apply to payments of OID and interest made outside the United States to a U. File 2011 california state taxes S. File 2011 california state taxes person, a controlled foreign corporation, or a foreign person at least 50% of whose income for the preceding 3-year period is effectively connected with the conduct of a U. File 2011 california state taxes S. File 2011 california state taxes trade or business. File 2011 california state taxes Payments to foreign person. File 2011 california state taxes   The following discussions explain the rules for backup withholding and information reporting on payments to foreign persons. File 2011 california state taxes U. File 2011 california state taxes S. File 2011 california state taxes -source amount. File 2011 california state taxes   Backup withholding and information reporting are not required for payments of U. File 2011 california state taxes S. File 2011 california state taxes -source OID, interest, or proceeds from a sale or redemption of an OID instrument if the payee has given you proof (generally the appropriate Form W-8 or an acceptable substitute) that the payee is a foreign person. File 2011 california state taxes A U. File 2011 california state taxes S. File 2011 california state taxes resident is not a foreign person. File 2011 california state taxes For proof of the payee's foreign status, you can rely on the appropriate Form W-8 or on documentary evidence for payments made outside the United States to an offshore account or, in case of broker proceeds, a sale effected outside the United States. File 2011 california state taxes Receipt of the appropriate Form W-8 does not relieve you from information reporting and backup withholding if you actually know the payee is a U. File 2011 california state taxes S. File 2011 california state taxes person. File 2011 california state taxes   For information about the 28% withholding tax that may apply to payments of U. File 2011 california state taxes S. File 2011 california state taxes -source OID or interest to foreign persons, see Publication 515. File 2011 california state taxes Foreign-source amount. File 2011 california state taxes   Backup withholding and information reporting are not required for payments of foreign-source OID and interest made outside the United States. File 2011 california state taxes However, if the payments are made inside the United States, the requirements for backup withholding and information reporting will apply unless the payee has given you the appropriate Form W-8 or acceptable substitute as proof that the payee is a foreign person. File 2011 california state taxes More information. File 2011 california state taxes   For more information about backup withholding and information reporting on foreign-source amounts or payments to foreign persons, see Regulations section 1. File 2011 california state taxes 6049-5. File 2011 california state taxes Information for Owners of OID Debt Instruments This section is for persons who prepare their own tax returns. File 2011 california state taxes It discusses the income tax rules for figuring and reporting OID on long-term debt instruments. File 2011 california state taxes It also includes a similar discussion for stripped bonds and coupons, such as zero coupon bonds available through the Department of the Treasury's STRIPS program and government-sponsored enterprises such as the Resolution Funding Corporation. File 2011 california state taxes However, the information provided does not cover every situation. File 2011 california state taxes More information can be found in the regulations under sections 1271 through 1275 of the Internal Revenue Code. File 2011 california state taxes Including OID in income. File 2011 california state taxes   Generally, you include OID in income as it accrues each year, whether or not you receive any payments from the debt instrument issuer. File 2011 california state taxes Exceptions. File 2011 california state taxes   The rules for including OID in income as it accrues generally do not apply to the following debt instruments. File 2011 california state taxes U. File 2011 california state taxes S. File 2011 california state taxes savings bonds. File 2011 california state taxes Tax-exempt obligations. File 2011 california state taxes (However, see Tax-Exempt Bonds and Coupons, later. File 2011 california state taxes ) Obligations issued by individuals before March 2, 1984. File 2011 california state taxes Loans of $10,000 or less between individuals who are not in the business of lending money. File 2011 california state taxes (The dollar limit includes outstanding prior loans by the lender to the borrower. File 2011 california state taxes ) This exception does not apply if a principal purpose of the loan is to avoid any federal tax. File 2011 california state taxes   See chapter 1 of Publication 550 for information about the rules for these and other types of discounted debt instruments, such as short-term and market discount obligations. File 2011 california state taxes Publication 550 also discusses rules for holders of REMIC interests and CDOs. File 2011 california state taxes De minimis rule. File 2011 california state taxes   You can treat OID as zero if the total OID on a debt instrument is less than one-fourth of 1% (. File 2011 california state taxes 0025) of the stated redemption price at maturity multiplied by the number of full years from the date of original issue to maturity. File 2011 california state taxes Debt instruments with de minimis OID are not listed in this publication. File 2011 california state taxes There are special rules to determine the de minimis amount in the case of debt instruments that provide for more than one payment of principal. File 2011 california state taxes Also, the de minimis rules generally do not apply to tax-exempt obligations. File 2011 california state taxes Example 2. File 2011 california state taxes You bought at issuance a 10-year debt instrument with a stated redemption price at maturity of $1,000, issued at $980 with OID of $20. File 2011 california state taxes One-fourth of 1% of $1,000 (the stated redemption price) times 10 (the number of full years from the date of original issue to maturity) equals $25. File 2011 california state taxes Under the de minimis rule, you can treat the OID as zero because the $20 discount is less than $25. File 2011 california state taxes Example 3. File 2011 california state taxes Assume the same facts as Example 2, except the debt instrument was issued at $950. File 2011 california state taxes You must report part of the $50 OID each year because it is more than $25. File 2011 california state taxes Choice to report all interest as OID. File 2011 california state taxes   Generally, you can choose to treat all interest on a debt instrument acquired after April 3, 1994, as OID and include it in gross income by using the constant yield method. File 2011 california state taxes See Constant yield method under Debt Instruments Issued After 1984, later, for more information. File 2011 california state taxes   For this choice, interest includes stated interest, acquisition discount, OID, de minimis OID, market discount, de minimis market discount, and unstated interest, as adjusted by any amortizable bond premium or acquisition premium. File 2011 california state taxes For more information, see Regulations section 1. File 2011 california state taxes 1272-3. File 2011 california state taxes Purchase after date of original issue. File 2011 california state taxes   A debt instrument you purchased after the date of original issue may have premium, acquisition premium, or market discount. File 2011 california state taxes If so, the OID reported to you on Form 1099-OID may have to be adjusted. File 2011 california state taxes For more information, see Showing an OID adjustment under How To Report OID, later. File 2011 california state taxes The following rules generally do not apply to contingent payment debt instruments. File 2011 california state taxes Adjustment for premium. File 2011 california state taxes   If your debt instrument (other than an inflation-indexed debt instrument) has premium, do not report any OID as ordinary income. File 2011 california state taxes Your adjustment is the total OID shown on your Form 1099-OID. File 2011 california state taxes Adjustment for acquisition premium. File 2011 california state taxes   If your debt instrument has acquisition premium, reduce the OID you report. File 2011 california state taxes Your adjustment is the difference between the OID shown on your Form 1099-OID and the reduced OID amount figured using the rules explained later under Figuring OID on Long-Term Debt Instruments. File 2011 california state taxes Adjustment for market discount. File 2011 california state taxes   If your debt instrument has market discount that you choose to include in income currently, increase the OID you report. File 2011 california state taxes Your adjustment is the accrued market discount for the year. File 2011 california state taxes See Market Discount Bonds in chapter 1 of Publication 550 for information on how to figure accrued market discount and include it in your income currently and for other information about market discount bonds. File 2011 california state taxes If you choose to use the constant yield method to figure accrued market discount, also see Figuring OID on Long-Term Debt Instruments, later. File 2011 california state taxes The constant yield method of figuring accrued OID, explained in those discussions under Constant yield method, is also used to figure accrued market discount. File 2011 california state taxes For more information concerning premium or market discount on an inflation-indexed debt instrument, see Regulations section 1. File 2011 california state taxes 1275-7. File 2011 california state taxes Sale, exchange, or redemption. File 2011 california state taxes   Generally, you treat your gain or loss from the sale, exchange, or redemption of a discounted debt instrument as a capital gain or loss if you held the debt instrument as a capital asset. File 2011 california state taxes If you sold the debt instrument through a broker, you should receive Form 1099-B or an equivalent statement from the broker. File 2011 california state taxes Use the Form 1099-B or other statement and your brokerage statements to complete Form 8949, and Schedule D (Form 1040). File 2011 california state taxes   Your gain or loss is the difference between the amount you realized on the sale, exchange, or redemption and your basis in the debt instrument. File 2011 california state taxes Your basis, generally, is your cost increased by the OID you have included in income each year you held it. File 2011 california state taxes In general, to determine your gain or loss on a tax-exempt bond, figure your basis in the bond by adding to your cost the OID you would have included in income if the bond had been taxable. File 2011 california state taxes   See chapter 4 of Publication 550 for more information about the tax treatment of the sale or redemption of discounted debt instruments. File 2011 california state taxes Example 4. File 2011 california state taxes Larry, a calendar year taxpayer, bought a corporate debt instrument at original issue for $86,235. File 2011 california state taxes 00 on November 1 of Year 1. File 2011 california state taxes The 15-year debt instrument matures on October 31 of Year 16 at a stated redemption price of $100,000. File 2011 california state taxes The debt instrument provides for semiannual payments of interest at 10%. File 2011 california state taxes Assume the debt instrument is a capital asset in Larry's hands. File 2011 california state taxes The debt instrument has $13,765. File 2011 california state taxes 00 of OID ($100,000 stated redemption price at maturity minus $86,235. File 2011 california state taxes 00 issue price). File 2011 california state taxes Larry sold the debt instrument for $90,000 on November 1 of Year 4. File 2011 california state taxes Including the OID he will report for the period he held the debt instrument in Year 4, Larry has included $4,556. File 2011 california state taxes 00 of OID in income and has increased his basis by that amount to $90,791. File 2011 california state taxes 00. File 2011 california state taxes Larry has realized a loss of $791. File 2011 california state taxes 00. File 2011 california state taxes All of Larry's loss is capital loss. File 2011 california state taxes Form 1099-OID The issuer of the debt instrument (or your broker, if you purchased or held the debt instrument through a broker) should give you a copy of Form 1099-OID or a similar statement if the accrued OID for the calendar year is $10 or more and the term of the debt instrument is more than 1 year. File 2011 california state taxes Form 1099-OID shows all OID income in box 1 except OID on a U. File 2011 california state taxes S. File 2011 california state taxes Treasury obligation, which is shown in box 8. File 2011 california state taxes It also shows, in box 2, any qualified stated interest you must include in income. File 2011 california state taxes (However, any qualified stated interest on Treasury inflation-protected securities can be reported on Form 1099-INT in box 3. File 2011 california state taxes ) A copy of Form 1099-OID will be sent to the IRS. File 2011 california state taxes Do not attach your copy to your tax return. File 2011 california state taxes Keep it for your records. File 2011 california state taxes If you are required to file a tax return and you receive Form 1099-OID showing taxable amounts, you must report these amounts on your return. File 2011 california state taxes A 20% accuracy-related penalty may be charged for underpayment of tax due to either negligence or disregard of rules and regulations or substantial understatement of tax. File 2011 california state taxes Form 1099-OID not received. File 2011 california state taxes   If you held an OID debt instrument for a calendar year but did not receive a Form 1099-OID, refer to the discussions under Figuring OID on Long-Term Debt Instruments, later, for information on the OID you must report. File 2011 california state taxes Refiguring OID. File 2011 california state taxes   You must refigure the OID shown on Form 1099-OID, in box 1 or box 8, to determine the proper amount to include in income if one of the following applies. File 2011 california state taxes You bought the debt instrument at a premium or at an acquisition premium. File 2011 california state taxes The debt instrument is a stripped bond or coupon (including zero coupon bonds backed by U. File 2011 california state taxes S. File 2011 california state taxes Treasury securities). File 2011 california state taxes The debt instrument is a contingent payment or inflation-indexed debt instrument. File 2011 california state taxes See the discussions under Figuring OID on Long-Term Debt Instruments or Figuring OID on Stripped Bonds and Coupons, later, for the specific computations. File 2011 california state taxes Refiguring interest. File 2011 california state taxes   If you disposed of a debt instrument or acquired it from another holder between interest dates, see the discussion under Bonds Sold Between Interest Dates in chapter 1 of Publication 550 for information about refiguring the interest shown on Form 1099-OID in box 2. File 2011 california state taxes Nominee. File 2011 california state taxes   If you are the holder of an OID debt instrument and you receive a Form 1099-OID that shows your taxpayer identification number and includes amounts belonging to another person, you are considered a “nominee. File 2011 california state taxes ” You must file another Form 1099-OID for each actual owner, showing the OID for the owner. File 2011 california state taxes Show the owner of the debt instrument as the “recipient” and you as the “payer. File 2011 california state taxes ”   Complete Form 1099-OID and Form 1096 and file the forms with the Internal Revenue Service Center for your area. File 2011 california state taxes You must also give a copy of the Form 1099-OID to the actual owner. File 2011 california state taxes However, you are not required to file a nominee return to show amounts belonging to your spouse. File 2011 california state taxes See the Form 1099 instructions for more information. File 2011 california state taxes   When preparing your tax return, follow the instructions under Showing an OID adjustment in the next discussion. File 2011 california state taxes How To Report OID Generally, you report your taxable interest and OID income on the interest line of Form 1040EZ, Form 1040A, or Form 1040. File 2011 california state taxes Form 1040 or Form 1040A required. File 2011 california state taxes   You must use Form 1040 or Form 1040A (you cannot use Form 1040EZ) under either of the following conditions. File 2011 california state taxes You received a Form 1099-OID as a nominee for the actual owner. File 2011 california state taxes Your total interest and OID income for the year was more than $1,500. File 2011 california state taxes Form 1040 required. File 2011 california state taxes   You must use Form 1040 (you cannot use Form 1040A or Form 1040EZ) if you are reporting more or less OID than the amount shown on Form 1099-OID, other than because you are a nominee. File 2011 california state taxes For example, if you paid a premium or an acquisition premium when you purchased the debt instrument, you must use Form 1040 because you will report less OID than shown on Form 1099-OID. File 2011 california state taxes Also, you must use Form 1040 if you were charged an early withdrawal penalty. File 2011 california state taxes Where to report. File 2011 california state taxes   List each payer's name (if a brokerage firm gave you a Form 1099, list the brokerage firm as the payer) and the amount received from each payer on Form 1040A, Schedule B, Part I, line 1, or Form 1040, Schedule B, line 1. File 2011 california state taxes Include all OID and periodic interest shown on any Form 1099-OID, boxes 1, 2, and 8, you received for the tax year. File 2011 california state taxes Also include any other OID and interest income for which you did not receive a Form 1099. File 2011 california state taxes Showing an OID adjustment. File 2011 california state taxes   If you use Form 1040 to report more or less OID than shown on Form 1099-OID, list the full OID on Schedule B, Part I, line 1, and follow the instructions under 1 or 2, next. File 2011 california state taxes   If you use Form 1040A to report the OID shown on a Form 1099-OID you received as a nominee for the actual owner, list the full OID on Schedule B, Part I, line 1 and follow the instructions under 1. File 2011 california state taxes If the OID, as adjusted, is less than the amount shown on Form 1099-OID, show the adjustment as follows. File 2011 california state taxes Under your last entry on line 1, subtotal all interest and OID income listed on line 1. File 2011 california state taxes Below the subtotal, write “Nominee Distribution” or “OID Adjustment” and show the OID you are not required to report. File 2011 california state taxes Subtract that OID from the subtotal and enter the result on line 2. File 2011 california state taxes If the OID, as adjusted, is more than the amount shown on Form 1099-OID, show the adjustment as follows. File 2011 california state taxes Under your last entry on line 1, subtotal all interest and OID income listed on line 1. File 2011 california state taxes Below the subtotal, write “OID Adjustment” and show the additional OID. File 2011 california state taxes Add that OID to the subtotal and enter the result on line 2. File 2011 california state taxes Figuring OID on Long-Term Debt Instruments How you figure the OID on a long-term debt instrument depends on the date it was issued. File 2011 california state taxes It also may depend on the type of the debt instrument. File 2011 california state taxes There are different rules for each of the following debt instruments. File 2011 california state taxes Corporate debt instruments issued after 1954 and before May 28, 1969, and government debt instruments issued after 1954 and before July 2, 1982. File 2011 california state taxes Corporate debt instruments issued after May 27, 1969, and before July 2, 1982. File 2011 california state taxes Debt instruments issued after July 1, 1982, and before 1985. File 2011 california state taxes Debt instruments issued after 1984 (other than debt instruments described in (5) and (6)). File 2011 california state taxes Contingent payment debt instruments issued after August 12, 1996. File 2011 california state taxes Inflation-indexed debt instruments (including Treasury inflation-protected securities) issued after January 5, 1997. File 2011 california state taxes Zero coupon bonds. File 2011 california state taxes   The rules for figuring OID on zero coupon bonds backed by U. File 2011 california state taxes S. File 2011 california state taxes Treasury securities are discussed under Figuring OID on Stripped Bonds and Coupons, later. File 2011 california state taxes Corporate Debt Instruments Issued After 1954 and Before May 28, 1969, and Government Debt Instruments Issued After 1954 and Before July 2, 1982 If you hold these debt instruments as capital assets, you include OID in income only in the year the debt instrument is sold, exchanged, or redeemed, and only if you have a gain. File 2011 california state taxes The OID, which is taxed as ordinary income, generally equals the following amount. File 2011 california state taxes   number of full months you held the debt instrument  number of full months from date of original issue to date of maturity X original issue discount The balance of the gain is capital gain. File 2011 california state taxes If there is a loss on the sale of the debt instrument, the entire loss is a capital loss and no OID is reported. File 2011 california state taxes Corporate Debt Instruments Issued After May 27, 1969, and Before July 2, 1982 If you hold these debt instruments as capital assets, you must include part of the OID in income each year you own the debt instruments. File 2011 california state taxes For information about showing the correct OID on your tax return, see the discussion under How To Report OID, earlier. File 2011 california state taxes Your basis in the debt instrument is increased by the OID you include in income. File 2011 california state taxes Form 1099-OID. File 2011 california state taxes   You should receive a Form 1099-OID showing OID for the part of the year you held the debt instrument. File 2011 california state taxes However, if you paid an acquisition premium, you may need to refigure the OID to report on your tax return. File 2011 california state taxes See Reduction for acquisition premium, later. File 2011 california state taxes If you held an OID debt instrument in a calendar year but did not receive a Form 1099-OID, see Form 1099-OID not received, immediately below, and refer to Section I-A available at www. File 2011 california state taxes irs. File 2011 california state taxes gov/pub1212 by clicking the link under Recent Developments. File 2011 california state taxes Form 1099-OID not received. File 2011 california state taxes    The OID listed is for each $1,000 of redemption price. File 2011 california state taxes You must adjust the listed amount if your debt instrument has a different principal amount. File 2011 california state taxes For example, if you have a debt instrument with a $500 principal amount, use one-half the listed amount to figure your OID. File 2011 california state taxes   If you held the debt instrument the entire year, use the OID shown in Section I-A for a calendar year. File 2011 california state taxes (If your debt instrument is not listed in Section I-A, consult the issuer for information about the issue price and the OID that accrued for that year. File 2011 california state taxes ) If you did not hold the debt instrument the entire year, figure your OID using the following method. File 2011 california state taxes Divide the OID shown by 12. File 2011 california state taxes Multiply the result in (1) by the number of complete and partial months (for example, 6½ months) you held the debt instrument during a calendar year. File 2011 california state taxes This is the OID to include in income unless you paid an acquisition premium. File 2011 california state taxes The reduction for acquisition premium is discussed next. File 2011 california state taxes Reduction for acquisition premium. File 2011 california state taxes   If you bought the debt instrument at an acquisition premium, figure the OID to include in income as follows. File 2011 california state taxes Divide the total OID on the debt instrument by the number of complete months, and any part of a month, from the date of original issue to the maturity date. File 2011 california state taxes This is the monthly OID. File 2011 california state taxes Subtract from your cost the issue price and the accumulated OID from the date of issue to the date of purchase. File 2011 california state taxes (If the result is zero or less, stop here. File 2011 california state taxes You did not pay an acquisition premium. File 2011 california state taxes ) Divide the amount figured in (2) by the number of complete months, and any part of a month, from the date of your purchase to the maturity date. File 2011 california state taxes Subtract the amount figured in (3) from the amount figured in (1). File 2011 california state taxes This is the OID to include in income for each month you hold the debt instrument during the year. File 2011 california state taxes Transfers during the month. File 2011 california state taxes   If you buy or sell a debt instrument on any day other than the same day of the month as the date of original issue, the ratable monthly portion of OID for the month of sale is divided between the seller and the buyer according to the number of days each held the debt instrument. File 2011 california state taxes Your holding period for this purpose begins the day you acquire the debt instrument and ends the day before you dispose of it. File 2011 california state taxes Debt Instruments Issued After July 1, 1982, and Before 1985 If you hold these debt instruments as capital assets, you must include part of the OID in income each year you own the debt instruments and increase your basis by the amount included. File 2011 california state taxes For information about showing the correct OID on your tax return, see How To Report OID, earlier. File 2011 california state taxes Form 1099-OID. File 2011 california state taxes   You should receive a Form 1099-OID showing OID for the part of the year you held the debt instrument. File 2011 california state taxes However, if you paid an acquisition premium, you may need to refigure the OID to report on your tax return. File 2011 california state taxes See Constant yield method and the discussions on acquisition premium that follow, later. File 2011 california state taxes If you held an OID debt instrument in a calendar year but did not receive a Form 1099-OID, see Form 1099-OID not received, immediately below, and refer to Section I-A available at www. File 2011 california state taxes irs. File 2011 california state taxes gov/pub1212 by clicking the link under Recent Developments. File 2011 california state taxes Form 1099-OID not received. File 2011 california state taxes    The OID listed is for each $1,000 of redemption price. File 2011 california state taxes You must adjust the listed amount if your debt instrument has a different principal amount. File 2011 california state taxes For example, if you have a debt instrument with a $500 principal amount, use one-half the listed amount to figure your OID. File 2011 california state taxes   If you held the debt instrument the entire year, use the OID shown in Section I-A. File 2011 california state taxes (If your instrument is not listed in Section I-A, consult the issuer for information about the issue price, the yield to maturity, and the OID that accrued for that year. File 2011 california state taxes ) If you did not hold the debt instrument the entire year, figure your OID using either of the following methods. File 2011 california state taxes Method 1. File 2011 california state taxes    Divide the total OID for a calendar year by 365 (366 for leap years). File 2011 california state taxes Multiply the result in (1) by the number of days you held the debt instrument during that particular year. File 2011 california state taxes  This computation is an approximation and may result in a slightly higher OID than Method 2. File 2011 california state taxes Method 2. File 2011 california state taxes    Look up the daily OID for the first accrual period you held the debt instrument during a calendar year. File 2011 california state taxes (See Accrual period under Constant yield method, next. File 2011 california state taxes ) Multiply the daily OID by the number of days you held the debt instrument during that accrual period. File 2011 california state taxes If you held the debt instrument for part of both accrual periods, repeat (1) and (2) for the second accrual period. File 2011 california state taxes Add the results of (2) and (3). File 2011 california state taxes This is the OID to include in income, unless you paid an acquisition premium. File 2011 california state taxes (The reduction for acquisition premium is discussed later. File 2011 california state taxes ) Constant yield method. File 2011 california state taxes   This discussion shows how to figure OID on debt instruments issued after July 1, 1982, and before 1985, using a constant yield method. File 2011 california state taxes OID is allocated over the life of the debt instrument through adjustments to the issue price for each accrual period. File 2011 california state taxes   Figure the OID allocable to any accrual period as follows. File 2011 california state taxes Multiply the adjusted issue price at the beginning of the accrual period by the debt instrument's yield to maturity. File 2011 california state taxes Subtract from the result in (1) any qualified stated interest allocable to the accrual period. File 2011 california state taxes Accrual period. File 2011 california state taxes   An accrual period for any OID debt instrument issued after July 1, 1982, and before 1985 is each 1-year period beginning on the date of the issue of the obligation and each anniversary thereafter, or the shorter period to maturity for the last accrual period. File 2011 california state taxes Your tax year will usually include parts of two accrual periods. File 2011 california state taxes Daily OID. File 2011 california state taxes   The OID for any accrual period is allocated equally to each day in the accrual period. File 2011 california state taxes You must include in income the sum of the OID amounts for each day you hold the debt instrument during the year. File 2011 california state taxes If your tax year includes parts of two or more accrual periods, you must include the proper daily OID amounts for each accrual period. File 2011 california state taxes Figuring daily OID. File 2011 california state taxes   The daily OID for the initial accrual period is figured using the following formula. File 2011 california state taxes   (ip × ytm) − qsi     p   ip = issue price ytm = yield to maturity qsi = qualified stated interest p = number of days in accrual period         The daily OID for subsequent accrual periods is figured the same way except the adjusted issue price at the beginning of each period is used in the formula instead of the issue price. File 2011 california state taxes Reduction for acquisition premium on debt instruments purchased before July 19, 1984. File 2011 california state taxes   If you bought the debt instrument at an acquisition premium before July 19, 1984, figure the OID includible in income by reducing the daily OID by the daily acquisition premium. File 2011 california state taxes Figure the daily acquisition premium by dividing the total acquisition premium by the number of days in the period beginning on your purchase date and ending on the day before the date of maturity. File 2011 california state taxes Reduction for acquisition premium on debt instruments purchased after July 18, 1984. File 2011 california state taxes   If you bought the debt instrument at an acquisition premium after July 18, 1984, figure the OID includible in income by reducing the daily OID by the daily acquisition premium. File 2011 california state taxes However, the method of figuring the daily acquisition premium is different from the method described in the preceding discussion. File 2011 california state taxes To figure the daily acquisition premium under this method, multiply the daily OID by the following fraction. File 2011 california state taxes The numerator is the acquisition premium. File 2011 california state taxes The denominator is the total OID remaining for the debt instrument after your purchase date. File 2011 california state taxes Section I-A is available at www. File 2011 california state taxes irs. File 2011 california state taxes gov/pub1212 and clicking the link under Recent Developments. File 2011 california state taxes Using Section I-A to figure accumulated OID. File 2011 california state taxes   If you bought your corporate debt instrument in a calendar year or the subsequent year, you can figure the accumulated OID to the date of purchase by adding the following amounts. File 2011 california state taxes The amount from the “Total OID to January 1, YYYY” column for your debt instrument. File 2011 california state taxes The OID from January 1 of a calendar year to the date of purchase, figured as follows. File 2011 california state taxes Multiply the daily OID for the first accrual period in the calendar year by the number of days from January 1 to the date of purchase, or the end of the accrual period if the debt instrument was purchased in the second or third accrual period. File 2011 california state taxes Multiply the daily OID for each subsequent accrual period by the number of days in the period to the date of purchase or the end of the accrual period, whichever applies. File 2011 california state taxes Add the amounts figured in (2a) and (2b). File 2011 california state taxes Debt Instruments Issued After 1984 If you hold debt instruments issued after 1984, you must report part of the OID in gross income each year that you own the debt instruments. File 2011 california state taxes You must include the OID in gross income whether or not you hold the debt instrument as a capital asset. File 2011 california state taxes Your basis in the debt instrument is increased by the OID you include in income. File 2011 california state taxes For information about showing the correct OID on your tax return, see How To Report OID, earlier. File 2011 california state taxes Form 1099-OID. File 2011 california state taxes   You should receive a Form 1099-OID showing OID for the part of a calendar year you held the debt instrument. File 2011 california state taxes However, if you paid an acquisition premium, you may need to refigure the OID to report on your tax return. File 2011 california state taxes See Constant yield method and Reduction for acquisition premium, later. File 2011 california state taxes   You may also need to refigure the OID for a contingent payment or inflation-indexed debt instrument on which the amount reported on Form 1099-OID is inaccurate. File 2011 california state taxes See Contingent Payment Debt Instruments or Inflation-Indexed Debt Instruments, later. File 2011 california state taxes If you held an OID debt instrument in a calendar year but did not receive a Form 1099-OID, see Form 1099-OID not received, immediately below, and refer to Section I-B available at www. File 2011 california state taxes irs. File 2011 california state taxes gov/pub1212 by clicking the link under Recent Developments. File 2011 california state taxes Form 1099-OID not received. File 2011 california state taxes   The OID listed is for each $1,000 of redemption price. File 2011 california state taxes You must adjust the listed amount if your debt instrument has a different principal amount. File 2011 california state taxes For example, if you have a debt instrument with a $500 principal amount, use one-half the listed amount to figure your OID. File 2011 california state taxes   Use the OID shown in Section I-B for a calendar year if you held the debt instrument the entire year. File 2011 california state taxes (If your debt instrument is not listed in Section I-B, consult the issuer for information about the issue price, the yield to maturity, and the OID that accrued for that year. File 2011 california state taxes ) If you did not hold the debt instrument the entire year, figure your OID as follows. File 2011 california state taxes Look up the daily OID for the first accrual period in which you held the debt instrument during a calendar year. File 2011 california state taxes (See Accrual period under Constant yield method, later. File 2011 california state taxes ) Multiply the daily OID by the number of days you held the debt instrument during that accrual period. File 2011 california state taxes Repeat (1) and (2) for any remaining accrual periods in which you held the debt instrument. File 2011 california state taxes Add the results of (2) and (3). File 2011 california state taxes This is the OID to include in income for that year, unless you paid an acquisition premium. File 2011 california state taxes (The reduction for acquisition premium is discussed later. File 2011 california state taxes ) Tax-exempt bond. File 2011 california state taxes   If you own a tax-exempt bond, figure your basis in the bond by adding to your cost the OID you would have included in income if the bond had been taxable. File 2011 california state taxes You need to make this adjustment to determine if you have a gain or loss on a later disposition of the bond. File 2011 california state taxes In general, use the rules that follow to determine your OID. File 2011 california state taxes Constant yield method. File 2011 california state taxes   This discussion shows how to figure OID on debt instruments issued after 1984 using a constant yield method. File 2011 california state taxes (The special rules that apply to contingent payment debt instruments and inflation-indexed debt instruments are explained later. File 2011 california state taxes ) OID is allocated over the life of the debt instrument through adjustments to the issue price for each accrual period. File 2011 california state taxes   Figure the OID allocable to any accrual period as follows. File 2011 california state taxes Multiply the adjusted issue price at the beginning of the accrual period by a fraction. File 2011 california state taxes The numerator of the fraction is the debt instrument's yield to maturity and the denominator is the number of accrual periods per year. File 2011 california state taxes The yield must be stated appropriately taking into account the length of the particular accrual period. File 2011 california state taxes Subtract from the result in (1) any qualified stated interest allocable to the accrual period. File 2011 california state taxes Accrual period. File 2011 california state taxes   For debt instruments issued after 1984 and before April 4, 1994, an accrual period is each 6-month period that ends on the day that corresponds to the stated maturity date of the debt instrument or the date 6 months before that date. File 2011 california state taxes For example, a debt instrument maturing on March 31 has accrual periods that end on September 30 and March 31 of each calendar year. File 2011 california state taxes Any short period is included as the first accrual period. File 2011 california state taxes   For debt instruments issued after April 3, 1994, accrual periods may be of any length and may vary in length over the term of the debt instrument, as long as each accrual period is no longer than 1 year and all payments are made on the first or last day of an accrual period. File 2011 california state taxes However, the OID listed for these debt instruments in Section I-B has been figured using 6-month accrual periods. File 2011 california state taxes Daily OID. File 2011 california state taxes   The OID for any accrual period is allocated equally to each day in the accrual period. File 2011 california state taxes Figure the amount to include in income by adding the OID for each day you hold the debt instrument during the year. File 2011 california state taxes Since your tax year will usually include parts of two or more accrual periods, you must include the proper daily OID for each accrual period. File 2011 california state taxes If your debt instrument has 6-month accrual periods, your tax year will usually include one full 6-month accrual period and parts of two other 6-month periods. File 2011 california state taxes Figuring daily OID. File 2011 california state taxes   The daily OID for the initial accrual period is figured using the following formula. File 2011 california state taxes   (ip × ytm/n) − qsi     p   ip = issue price ytm = yield to maturity n = number of accrual periods in 1 year qsi = qualified stated interest p = number of days in accrual period       The daily OID for subsequent accrual periods is figured the same way except the adjusted issue price at the beginning of each period is used in the formula instead of the issue price. File 2011 california state taxes Example 5. File 2011 california state taxes On January 1 of Year 1, you bought a 15-year, 10% debt instrument of A Corporation at original issue for $86,235. File 2011 california state taxes 17. File 2011 california state taxes According to the prospectus, the debt instrument matures on December 31 of Year 15 at a stated redemption price of $100,000. File 2011 california state taxes The yield to maturity is 12%, compounded semiannually. File 2011 california state taxes The debt instrument provides for qualified stated interest payments of $5,000 on June 30 and December 31 of each calendar year. File 2011 california state taxes The accrual periods are the 6-month periods ending on each of these dates. File 2011 california state taxes The number of days for the first accrual period (January 1 through June 30) is 181 days (182 for leap years). File 2011 california state taxes The daily OID for the first accrual period is figured as follows. File 2011 california state taxes   ($86,235. File 2011 california state taxes 17 x . File 2011 california state taxes 12/2) – $5,000     181 days     = $174. File 2011 california state taxes 11020 = $. File 2011 california state taxes 96193   181           The adjusted issue price at the beginning of the second accrual period is the issue price plus the OID previously includible in income ($86,235. File 2011 california state taxes 17 + $174. File 2011 california state taxes 11), or $86,409. File 2011 california state taxes 28. File 2011 california state taxes The number of days for the second accrual period (July 1 through December 31) is 184 days. File 2011 california state taxes The daily OID for the second accrual period is figured as follows. File 2011 california state taxes   ($86,409. File 2011 california state taxes 28 x . File 2011 california state taxes 12/2) – $5,000     184 days     = $184. File 2011 california state taxes 55681 = $1. File 2011 california state taxes 00303   184 Since the first and second accrual periods coincide exactly with your tax year, you include in income for Year 1 the OID allocable to the first two accrual periods, $174. File 2011 california state taxes 11 ($. File 2011 california state taxes 95665 × 182 days) plus $184. File 2011 california state taxes 56 ($1. File 2011 california state taxes 00303 × 184 days), or $358. File 2011 california state taxes 67. File 2011 california state taxes Add the OID to the $10,000 interest you report on your income tax return for Year 1. File 2011 california state taxes Example 6. File 2011 california state taxes Assume the same facts as in Example 5, except that you bought the debt instrument at original issue on May 1 of Year 1, with a maturity date of April 30, Year 16. File 2011 california state taxes Also, the interest payment dates are October 31 and April 30 of each calendar year. File 2011 california state taxes The accrual periods are the 6-month periods ending on each of these dates. File 2011 california state taxes The number of days for the first accrual period (May 1 through October 31) is 184 days. File 2011 california state taxes The daily OID for the first accrual period is figured as follows. File 2011 california state taxes   ($86,235. File 2011 california state taxes 17 x . File 2011 california state taxes 12/2) – $5,000     184 days     = $174. File 2011 california state taxes 11020 = $. File 2011 california state taxes 94625   184           The number of days for the second accrual period (November 1 through April 30) is 181 days (182 for leap years). File 2011 california state taxes The daily OID for the second accrual period is figured as follows. File 2011 california state taxes   ($86,409. File 2011 california state taxes 28 x . File 2011 california state taxes 12/2) – $5,000     181 days     = $184. File 2011 california state taxes 55681 = $1. File 2011 california state taxes 01965   181 If you hold the debt instrument through the end of Year 1, you must include $236. File 2011 california state taxes 31 of OID in income. File 2011 california state taxes This is $174. File 2011 california state taxes 11 ($. File 2011 california state taxes 94625 × 184 days) for the period May 1 through October 31 plus $62. File 2011 california state taxes 20 ($1. File 2011 california state taxes 01965 × 61 days) for the period November 1 through December 31. File 2011 california state taxes The OID is added to the $5,000 interest income paid on October 31 of Year 1. File 2011 california state taxes Your basis in the debt instrument is increased by the OID you include in income. File 2011 california state taxes On January 1 of Year 2, your basis in the A Corporation debt instrument is $86,471. File 2011 california state taxes 48 ($86,235. File 2011 california state taxes 17 + $236. File 2011 california state taxes 31). File 2011 california state taxes Short first accrual period. File 2011 california state taxes   You may have to make adjustments if a debt instrument has a short first accrual period. File 2011 california state taxes For example, a debt instrument with 6-month accrual periods that is issued on February 15 and matures on October 31 has a short first accrual period that ends April 30. File 2011 california state taxes (The remaining accrual periods begin on May 1 and November 1. File 2011 california state taxes ) For this short period, figure the daily OID as described earlier, but adjust the yield for the length of the short accrual period. File 2011 california state taxes You may use any reasonable compounding method in determining OID for a short period. File 2011 california state taxes Examples of reasonable compounding methods include continuous compounding and monthly compounding (that is, simple interest within a month). File 2011 california state taxes Consult your tax advisor for more information about making this computation. File 2011 california state taxes   The OID for the final accrual period is the difference between the amount payable at maturity (other than a payment of qualified stated interest) and the adjusted issue price at the beginning of the final accrual period. File 2011 california state taxes Reduction for acquisition premium. File 2011 california state taxes   If you bought the debt instrument at an acquisition premium, figure the OID includible in income by reducing the daily OID by the daily acquisition premium. File 2011 california state taxes To figure the daily acquisition premium, multiply the daily OID by the following fraction. File 2011 california state taxes The numerator is the acquisition premium. File 2011 california state taxes The denominator is the total OID remaining for the debt instrument after your purchase date. File 2011 california state taxes Example 7. File 2011 california state taxes Assume the same facts as in Example 6, except that you bought the debt instrument on November 1 of Year 1 for $87,000, after its original issue on May 1 of Year 1. File 2011 california state taxes The adjusted issue price on November 1 of Year 1 is $86,409. File 2011 california state taxes 28 ($86,235. File 2011 california state taxes 17 + $174. File 2011 california state taxes 11). File 2011 california state taxes In this case, you paid an acquisition premium of $590. File 2011 california state taxes 72 ($87,000 − $86,409. File 2011 california state taxes 28). File 2011 california state taxes The daily OID for the accrual period November 1 through April 30, reduced for the acquisition premium, is figured as follows. File 2011 california state taxes 1) Daily OID on date of purchase (2nd accrual period) $1. File 2011 california state taxes 01965*  2)  Acquisition premium $590. File 2011 california state taxes 72    3)  Total OID remaining after purchase date ($13,764. File 2011 california state taxes 83 − $174. File 2011 california state taxes 11) 13,590. File 2011 california state taxes 72   4) Line 2 ÷ line 3 . File 2011 california state taxes 04346  5)  Line 1 × line 4 . File 2011 california state taxes 04432  6)  Daily OID reduced for the acquisition premium. File 2011 california state taxes Line 1 − line 5 $0. File 2011 california state taxes 97533  * As shown in Example 6. File 2011 california state taxes The total OID to include in income for Year 1 is $59. File 2011 california state taxes 50 ($. File 2011 california state taxes 97533 × 61 days). File 2011 california state taxes Contingent Payment Debt Instruments This discussion shows how to figure OID on a contingent payment debt instrument issued after August 12, 1996, that was issued for cash or publicly traded property. File 2011 california state taxes In general, a contingent payment debt instrument provides for one or more payments that are contingent as to timing or amount. File 2011 california state taxes If you hold a contingent payment bond, you must report OID as it accrues each year. File 2011 california state taxes Because the actual payments on a contingent payment debt instrument cannot be known in advance, issuers and holders cannot use the constant yield method (discussed earlier under Debt Instruments Issued After 1984) without making certain assumptions about the payments on the debt instrument. File 2011 california state taxes To figure OID accruals on contingent payment debt instruments, holders and issuers must use the noncontingent bond method. File 2011 california state taxes Noncontingent bond method. File 2011 california state taxes    Under this method, the issuer must compute a comparable yield for the debt instrument and, based on this yield, construct a projected payment schedule for the instrument, which includes a projected fixed amount for each contingent payment. File 2011 california state taxes In general, holders and issuers accrue OID on this projected payment schedule using the constant yield method that applies to fixed payment debt instruments. File 2011 california state taxes When a contingent payment differs from the projected fixed amount, the holders and issuers make adjustments to their OID accruals. File 2011 california state taxes If the actual contingent payment is larger than expected, both the issuer and the holder increase their OID accruals. File 2011 california state taxes If the actual contingent payment is smaller than expected, holders and issuers generally decrease their OID accruals. File 2011 california state taxes Form 1099-OID. File 2011 california state taxes   The amount shown on Form 1099-OID in box 1 you receive for a contingent payment debt instrument may not be the correct amount to include in income. File 2011 california state taxes For example, the amount may not be correct if the contingent payment was different from the projected amount. File 2011 california state taxes If the amount in box 1 is not correct, you must figure the OID to report on your return under the following rules. File 2011 california state taxes For information on showing an OID adjustment on your tax return, see How To Report OID, earlier. File 2011 california state taxes Figuring OID. File 2011 california state taxes   To figure OID on a contingent payment debt instrument, you need to know the “comparable yield” and “projected payment schedule” of the debt instrument. File 2011 california state taxes The issuer must make these available to you. File 2011 california state taxes Comparable yield. File 2011 california state taxes   The comparable yield generally is the yield at which the issuer would issue a fixed rate debt instrument with terms and conditions similar to those of the contingent payment debt instrument. File 2011 california state taxes The comparable yield is determined as of the debt instrument's issue date. File 2011 california state taxes Projected payment schedule. File 2011 california state taxes   The projected payment schedule for a contingent payment debt instrument includes all fixed payments due under the instrument and a projected fixed amount for each contingent payment. File 2011 california state taxes The projected payment schedule is created by the issuer as of the debt instrument's issue date. File 2011 california state taxes It is used to determine the issuer's and holder's interest accruals and adjustments. File 2011 california state taxes Steps for figuring OID. File 2011 california state taxes   Figure the OID on a contingent payment debt instrument in two steps. File 2011 california state taxes Figure the OID using the constant yield method (discussed earlier under Debt Instruments Issued After 1984 ) that applies to fixed payment debt instruments. File 2011 california state taxes Use the comparable yield as the yield to maturity. File 2011 california state taxes In general, use the projected payment schedule to determine the instrument's adjusted issue price at the beginning of each accrual period (other than the initial period). File 2011 california state taxes Do not treat any amount payable as qualified stated interest. File 2011 california state taxes Adjust the OID in (1) to account for actual contingent payments. File 2011 california state taxes If the contingent payment is greater than the projected fixed amount, you have a positive adjustment. File 2011 california state taxes If the contingent payment is less than the projected fixed amount, you have a negative adjustment. File 2011 california state taxes Net positive adjustment. File 2011 california state taxes   A net positive adjustment exists for a tax year when the total of any positive adjustments described in (2) above for the tax year is more than the total of any negative adjustments for the tax year. File 2011 california state taxes Treat a net positive adjustment as additional OID for the tax year. File 2011 california state taxes Net negative adjustment. File 2011 california state taxes   A net negative adjustment exists for a tax year when the total of any negative adjustments described in (2) above for the tax year is more than the total of any positive adjustments for the tax year. File 2011 california state taxes Use a net negative adjustment to offset OID on the debt instrument for the tax year. File 2011 california state taxes If the net negative adjustment is more than the OID on the debt instrument for the tax year, you can claim the difference as an ordinary loss. File 2011 california state taxes However, the amount you can claim as an ordinary loss is limited to the OID on the debt instrument you included in income in prior tax years. File 2011 california state taxes You must carry forward any net negative adjustment that is more than the total OID for the tax year and prior tax years and treat it as a negative adjustment in the next tax year. File 2011 california state taxes Basis adjustments. File 2011 california state taxes   In general, increase your basis in a contingent payment debt instrument by the OID included in income. File 2011 california state taxes Your basis, however, is not affected by any negative or positive adjustments. File 2011 california state taxes Decrease your basis by any noncontingent payment received and the projected contingent payment scheduled to be received. File 2011 california state taxes Treatment of gain or loss on sale or exchange. File 2011 california state taxes   If you sell a contingent payment debt instrument at a gain, your gain is ordinary income (interest income), even if you hold the debt instrument as a capital asset. File 2011 california state taxes If you sell a contingent payment debt instrument at a loss, your loss is an ordinary loss to the extent of your prior OID accruals on the debt instrument. File 2011 california state taxes If the debt instrument is a capital asset, treat any loss that is more than your prior OID accruals as a capital loss. File 2011 california state taxes See Regulations section 1. File 2011 california state taxes 1275-4 for exceptions to these rules. File 2011 california state taxes Premium, acquisition premium, and market discount. File 2011 california state taxes   The rules for accruing premium, acquisition premium, and market discount do not apply to a contingent payment debt instrument. File 2011 california state taxes See Regulations section 1. File 2011 california state taxes 1275-4 to determine how to account for these items. File 2011 california state taxes Inflation-Indexed Debt Instruments This discussion shows how you figure OID on certain inflation-indexed debt instruments issued after January 5, 1997. File 2011 california state taxes An inflation-indexed debt instrument is generally a debt instrument on which the payments are adjusted for inflation and d