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Free Online State Tax Filing

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Free Online State Tax Filing

Free online state tax filing Publication 526 - Main Content Table of Contents Organizations That Qualify To Receive Deductible ContributionsTypes of Qualified Organizations Contributions You Can DeductContributions From Which You Benefit Expenses Paid for Student Living With You Out-of-Pocket Expenses in Giving Services Expenses of Whaling Captains Contributions You Cannot DeductContributions to Individuals Contributions to Nonqualified Organizations Contributions From Which You Benefit Value of Time or Services Personal Expenses Appraisal Fees Contributions to Donor-Advised Funds Partial Interest in Property Contributions of PropertyContributions Subject to Special Rules Determining Fair Market Value Giving Property That Has Decreased in Value Giving Property That Has Increased in Value Penalty When To DeductChecks. Free online state tax filing Text message. Free online state tax filing Credit card. Free online state tax filing Pay-by-phone account. Free online state tax filing Stock certificate. Free online state tax filing Promissory note. Free online state tax filing Option. Free online state tax filing Borrowed funds. Free online state tax filing Conditional gift. Free online state tax filing Limits on Deductions50% Limit 30% Limit Special 30% Limit for Capital Gain Property 20% Limit Special 50% Limit for Qualified Conservation Contributions How To Figure Your Deduction When Limits Apply Records To KeepCash Contributions Noncash Contributions Out-of-Pocket Expenses How To ReportReporting expenses for student living with you. Free online state tax filing Total deduction over $500. Free online state tax filing Deduction over $5,000 for one item. Free online state tax filing Vehicle donations. Free online state tax filing Clothing and household items not in good used condition. Free online state tax filing Easement on building in historic district. Free online state tax filing Deduction over $500,000. Free online state tax filing How To Get Tax HelpLow Income Taxpayer Clinics Organizations That Qualify To Receive Deductible Contributions You can deduct your contributions only if you make them to a qualified organization. Free online state tax filing Most organizations, other than churches and governments, must apply to the IRS to become a qualified organization. Free online state tax filing How to check whether an organization can receive deductible charitable contributions. Free online state tax filing   You can ask any organization whether it is a qualified organization, and most will be able to tell you. Free online state tax filing Or go to IRS. Free online state tax filing gov. Free online state tax filing Click on “Tools” and then on “Exempt Organizations Select Check” (www. Free online state tax filing irs. Free online state tax filing gov/Charities-&-Non-Profits/Exempt-Organizations-Select-Check). Free online state tax filing This online tool will enable you to search for qualified organizations. Free online state tax filing You can also call the IRS to find out if an organization is qualified. Free online state tax filing Call 1-877-829-5500. Free online state tax filing People who are deaf, hard of hearing, or have a speech disability and who have access to TTY/TDD equipment can call 1-800-829-4059. Free online state tax filing Deaf or hard of hearing individuals can also contact the IRS through relay services such as the Federal Relay Service at www. Free online state tax filing gsa. Free online state tax filing gov/fedrelay. Free online state tax filing Types of Qualified Organizations Generally, only the following types of organizations can be qualified organizations. Free online state tax filing A community chest, corporation, trust, fund, or foundation organized or created in or under the laws of the United States, any state, the District of Columbia, or any possession of the United States (including Puerto Rico). Free online state tax filing It must, however, be organized and operated only for charitable, religious, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Free online state tax filing Certain organizations that foster national or international amateur sports competition also qualify. Free online state tax filing War veterans' organizations, including posts, auxiliaries, trusts, or foundations, organized in the United States or any of its possessions (including Puerto Rico). Free online state tax filing Domestic fraternal societies, orders, and associations operating under the lodge system. Free online state tax filing (Your contribution to this type of organization is deductible only if it is to be used solely for charitable, religious, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Free online state tax filing ) Certain nonprofit cemetery companies or corporations. Free online state tax filing (Your contribution to this type of organization is not deductible if it can be used for the care of a specific lot or mausoleum crypt. Free online state tax filing ) The United States or any state, the District of Columbia, a U. Free online state tax filing S. Free online state tax filing possession (including Puerto Rico), a political subdivision of a state or U. Free online state tax filing S. Free online state tax filing possession, or an Indian tribal government or any of its subdivisions that perform substantial government functions. Free online state tax filing (Your contribution to this type of organization is deductible only if it is to be used solely for public purposes. Free online state tax filing ) Example 1. Free online state tax filing You contribute cash to your city's police department to be used as a reward for information about a crime. Free online state tax filing The city police department is a qualified organization, and your contribution is for a public purpose. Free online state tax filing You can deduct your contribution. Free online state tax filing Example 2. Free online state tax filing You make a voluntary contribution to the social security trust fund, not earmarked for a specific account. Free online state tax filing Because the trust fund is part of the U. Free online state tax filing S. Free online state tax filing Government, you contributed to a qualified organization. Free online state tax filing You can deduct your contribution. Free online state tax filing Examples. Free online state tax filing   The following list gives some examples of qualified organizations. Free online state tax filing Churches, a convention or association of churches, temples, synagogues, mosques, and other religious organizations. Free online state tax filing Most nonprofit charitable organizations such as the American Red Cross and the United Way. Free online state tax filing Most nonprofit educational organizations, including the Boy Scouts of America, Girl Scouts of America, colleges, and museums. Free online state tax filing This also includes nonprofit daycare centers that provide childcare to the general public if substantially all the childcare is provided to enable parents and guardians to be gainfully employed. Free online state tax filing However, if your contribution is a substitute for tuition or other enrollment fee, it is not deductible as a charitable contribution, as explained later under Contributions You Cannot Deduct . Free online state tax filing Nonprofit hospitals and medical research organizations. Free online state tax filing Utility company emergency energy programs, if the utility company is an agent for a charitable organization that assists individuals with emergency energy needs. Free online state tax filing Nonprofit volunteer fire companies. Free online state tax filing Nonprofit organizations that develop and maintain public parks and recreation facilities. Free online state tax filing Civil defense organizations. Free online state tax filing Canadian charities. Free online state tax filing   You may be able to deduct contributions to certain Canadian charitable organizations covered under an income tax treaty with Canada. Free online state tax filing To deduct your contribution to a Canadian charity, you generally must have income from sources in Canada. Free online state tax filing See Publication 597, Information on the United States-Canada Income Tax Treaty, for information on how to figure your deduction. Free online state tax filing Mexican charities. Free online state tax filing   Under the U. Free online state tax filing S. Free online state tax filing -Mexico income tax treaty, a contribution to a Mexican charitable organization may be deductible, but only if and to the extent the contribution would have been treated as a charitable contribution to a public charity created or organized under U. Free online state tax filing S. Free online state tax filing law. Free online state tax filing To deduct your contribution to a Mexican charity, you must have income from sources in Mexico. Free online state tax filing The limits described in Limits on Deductions , later, apply and are figured using your income from Mexican sources. Free online state tax filing Israeli charities. Free online state tax filing   Under the U. Free online state tax filing S. Free online state tax filing -Israel income tax treaty, a contribution to an Israeli charitable organization is deductible if and to the extent the contribution would have been treated as a charitable contribution if the organization had been created or organized under U. Free online state tax filing S. Free online state tax filing law. Free online state tax filing To deduct your contribution to an Israeli charity, you must have income from sources in Israel. Free online state tax filing The limits described in Limits on Deductions , later, apply. Free online state tax filing The deduction is also limited to 25% of your adjusted gross income from Israeli sources. Free online state tax filing Contributions You Can Deduct Generally, you can deduct contributions of money or property you make to, or for the use of, a qualified organization. Free online state tax filing A contribution is “for the use of” a qualified organization when it is held in a legally enforceable trust for the qualified organization or in a similar legal arrangement. Free online state tax filing The contributions must be made to a qualified organization and not set aside for use by a specific person. Free online state tax filing If you give property to a qualified organization, you generally can deduct the fair market value of the property at the time of the contribution. Free online state tax filing See Contributions of Property , later. Free online state tax filing Your deduction for charitable contributions generally cannot be more than 50% of your adjusted gross income (AGI), but in some cases 20% and 30% limits may apply. Free online state tax filing In addition, the total of your charitable contributions deduction and certain other itemized deductions may be limited. Free online state tax filing See Limits on Deductions , later. Free online state tax filing Table 1 in this publication gives examples of contributions you can and cannot deduct. Free online state tax filing Contributions From Which You Benefit If you receive a benefit as a result of making a contribution to a qualified organization, you can deduct only the amount of your contribution that is more than the value of the benefit you receive. Free online state tax filing Also see Contributions From Which You Benefit under Contributions You Cannot Deduct, later. Free online state tax filing If you pay more than fair market value to a qualified organization for goods or services, the excess may be a charitable contribution. Free online state tax filing For the excess amount to qualify, you must pay it with the intent to make a charitable contribution. Free online state tax filing Example 1. Free online state tax filing You pay $65 for a ticket to a dinner-dance at a church. Free online state tax filing Your entire $65 payment goes to the church. Free online state tax filing The ticket to the dinner-dance has a fair market value of $25. Free online state tax filing When you buy your ticket, you know its value is less than your payment. Free online state tax filing To figure the amount of your charitable contribution, subtract the value of the benefit you receive ($25) from your total payment ($65). Free online state tax filing You can deduct $40 as a charitable contribution to the church. Free online state tax filing Example 2. Free online state tax filing At a fundraising auction conducted by a charity, you pay $600 for a week's stay at a beach house. Free online state tax filing The amount you pay is no more than the fair rental value. Free online state tax filing You have not made a deductible charitable contribution. Free online state tax filing Athletic events. Free online state tax filing   If you make a payment to, or for the benefit of, a college or university and, as a result, you receive the right to buy tickets to an athletic event in the athletic stadium of the college or university, you can deduct 80% of the payment as a charitable contribution. Free online state tax filing   If any part of your payment is for tickets (rather than the right to buy tickets), that part is not deductible. Free online state tax filing Subtract the price of the tickets from your payment. Free online state tax filing You can deduct 80% of the remaining amount as a charitable contribution. Free online state tax filing Example 1. Free online state tax filing You pay $300 a year for membership in a university's athletic scholarship program. Free online state tax filing The only benefit of membership is that you have the right to buy one season ticket for a seat in a designated area of the stadium at the university's home football games. Free online state tax filing You can deduct $240 (80% of $300) as a charitable contribution. Free online state tax filing Example 2. Free online state tax filing The facts are the same as in Example 1 except your $300 payment includes the purchase of one season ticket for the stated ticket price of $120. Free online state tax filing You must subtract the usual price of a ticket ($120) from your $300 payment. Free online state tax filing The result is $180. Free online state tax filing Your deductible charitable contribution is $144 (80% of $180). Free online state tax filing Charity benefit events. Free online state tax filing   If you pay a qualified organization more than fair market value for the right to attend a charity ball, banquet, show, sporting event, or other benefit event, you can deduct only the amount that is more than the value of the privileges or other benefits you receive. Free online state tax filing   If there is an established charge for the event, that charge is the value of your benefit. Free online state tax filing If there is no established charge, the reasonable value of the right to attend the event is the value of your benefit. Free online state tax filing Whether you use the tickets or other privileges has no effect on the amount you can deduct. Free online state tax filing However, if you return the ticket to the qualified organization for resale, you can deduct the entire amount you paid for the ticket. Free online state tax filing    Even if the ticket or other evidence of payment indicates that the payment is a “contribution,” this does not mean you can deduct the entire amount. Free online state tax filing If the ticket shows the price of admission and the amount of the contribution, you can deduct the contribution amount. Free online state tax filing Example. Free online state tax filing You pay $40 to see a special showing of a movie for the benefit of a qualified organization. Free online state tax filing Printed on the ticket is “Contribution–$40. Free online state tax filing ” If the regular price for the movie is $8, your contribution is $32 ($40 payment − $8 regular price). Free online state tax filing Membership fees or dues. Free online state tax filing   You may be able to deduct membership fees or dues you pay to a qualified organization. Free online state tax filing However, you can deduct only the amount that is more than the value of the benefits you receive. Free online state tax filing   You cannot deduct dues, fees, or assessments paid to country clubs and other social organizations. Free online state tax filing They are not qualified organizations. Free online state tax filing Certain membership benefits can be disregarded. Free online state tax filing   Both you and the organization can disregard the following membership benefits if you get them in return for an annual payment of $75 or less. Free online state tax filing Any rights or privileges, other than those discussed under Athletic events , earlier, that you can use frequently while you are a member, such as: Free or discounted admission to the organization's facilities or events, Free or discounted parking, Preferred access to goods or services, and Discounts on the purchase of goods and services. Free online state tax filing Admission, while you are a member, to events open only to members of the organization if the organization reasonably projects that the cost per person (excluding any allocated overhead) is not more than $10. Free online state tax filing 20. Free online state tax filing Token items. Free online state tax filing   You do not have to reduce your contribution by the value of any benefit you receive if both of the following are true. Free online state tax filing You receive only a small item or other benefit of token value. Free online state tax filing The qualified organization correctly determines that the value of the item or benefit you received is not substantial and informs you that you can deduct your payment in full. Free online state tax filing The organization determines whether the value of an item or benefit is substantial by using Revenue Procedures 90-12 and 92-49 and the inflation adjustment in Revenue Procedure 2012–41. Free online state tax filing Written statement. Free online state tax filing   A qualified organization must give you a written statement if you make a payment of more than $75 that is partly a contribution and partly for goods or services. Free online state tax filing The statement must say you can deduct only the amount of your payment that is more than the value of the goods or services you received. Free online state tax filing It must also give you a good faith estimate of the value of those goods or services. Free online state tax filing   The organization can give you the statement either when it solicits or when it receives the payment from you. Free online state tax filing Exception. Free online state tax filing   An organization will not have to give you this statement if one of the following is true. Free online state tax filing The organization is: A governmental organization described in (5) under Types of Qualified Organizations , earlier, or An organization formed only for religious purposes, and the only benefit you receive is an intangible religious benefit (such as admission to a religious ceremony) that generally is not sold in commercial transactions outside the donative context. Free online state tax filing You receive only items whose value is not substantial as described under Token items , earlier. Free online state tax filing You receive only membership benefits that can be disregarded, as described under Membership fees or dues , earlier. Free online state tax filing Expenses Paid for Student Living With You You may be able to deduct some expenses of having a student live with you. Free online state tax filing You can deduct qualifying expenses for a foreign or American student who: Lives in your home under a written agreement between you and a qualified organization (defined later) as part of a program of the organization to provide educational opportunities for the student, Is not your relative (defined later) or dependent (also defined later), and Is a full-time student in the twelfth or any lower grade at a school in the United States. Free online state tax filing You can deduct up to $50 a month for each full calendar month the student lives with you. Free online state tax filing Any month when conditions (1) through (3) above are met for 15 or more days counts as a full month. Free online state tax filing Qualified organization. Free online state tax filing   For these purposes, a qualified organization can be any of the organizations described earlier under Types of Qualified Organizations , except those in (4) and (5). Free online state tax filing For example, if you are providing a home for a student as part of a state or local government program, you cannot deduct your expenses as charitable contributions. Free online state tax filing But see Foster parents under Out-of-Pocket Expenses in Giving Services, later, if you provide the home as a foster parent. Free online state tax filing Relative. Free online state tax filing   The term “relative” means any of the following persons. Free online state tax filing Your child, stepchild, foster child, or a descendant of any of them (for example, your grandchild). Free online state tax filing A legally adopted child is considered your child. Free online state tax filing Your brother, sister, half brother, half sister, stepbrother, or stepsister. Free online state tax filing Your father, mother, grandparent, or other direct ancestor. Free online state tax filing Your stepfather or stepmother. Free online state tax filing A son or daughter of your brother or sister. Free online state tax filing A brother or sister of your father or mother. Free online state tax filing Your son-in-law, daughter-in-law, father-in-law, mother-in-law, brother-in-law, or sister-in-law. Free online state tax filing Dependent. Free online state tax filing   For this purpose, the term “dependent” means: A person you can claim as a dependent, or A person you could have claimed as a dependent except that: He or she received gross income of $3,900 or more, He or she filed a joint return, or You, or your spouse if filing jointly, could be claimed as a dependent on someone else's 2013 return. Free online state tax filing    Foreign students brought to this country under a qualified international education exchange program and placed in American homes for a temporary period generally are not U. Free online state tax filing S. Free online state tax filing residents and cannot be claimed as dependents. Free online state tax filing Qualifying expenses. Free online state tax filing   You may be able to deduct the cost of books, tuition, food, clothing, transportation, medical and dental care, entertainment, and other amounts you actually spend for the well-being of the student. Free online state tax filing Expenses that do not qualify. Free online state tax filing   You cannot deduct depreciation on your home, the fair market value of lodging, and similar items not considered amounts actually spent by you. Free online state tax filing Nor can you deduct general household expenses, such as taxes, insurance, and repairs. Free online state tax filing Reimbursed expenses. Free online state tax filing   In most cases, you cannot claim a charitable contribution deduction if you are compensated or reimbursed for any part of the costs of having a student live with you. Free online state tax filing However, you may be able to claim a charitable contribution deduction for the unreimbursed portion of your expenses if you are reimbursed only for an extraordinary or one-time item, such as a hospital bill or vacation trip, you paid in advance at the request of the student's parents or the sponsoring organization. Free online state tax filing Mutual exchange program. Free online state tax filing   You cannot deduct the costs of a foreign student living in your home under a mutual exchange program through which your child will live with a family in a foreign country. Free online state tax filing Reporting expenses. Free online state tax filing   For a list of what you must file with your return if you deduct expenses for a student living with you, see Reporting expenses for student living with you under How To Report, later. Free online state tax filing Out-of-Pocket Expenses in Giving Services Table 2. Free online state tax filing Volunteers' Questions and Answers If you volunteer for a qualified organization, the following questions and answers may apply to you. Free online state tax filing All of the rules explained in this publication also apply. Free online state tax filing See, in particular, Out-of-Pocket Expenses in Giving Services . Free online state tax filing Question Answer I volunteer 6 hours a week in the office of a qualified organization. Free online state tax filing The receptionist is paid $10 an hour for the same work. Free online state tax filing Can I deduct $60 a week for my time? No, you cannot deduct the value of your time or services. Free online state tax filing  The office is 30 miles from my home. Free online state tax filing Can I deduct any of my car expenses for these trips? Yes, you can deduct the costs of gas and oil that are directly related to getting to and from the place where you volunteer. Free online state tax filing If you do not want to figure your actual costs, you can deduct 14 cents for each mile. Free online state tax filing I volunteer as a Red Cross nurse's aide at a hospital. Free online state tax filing Can I deduct the cost of the uniforms I must wear? Yes, you can deduct the cost of buying and cleaning your uniforms if the hospital is a qualified organization, the uniforms are not suitable for everyday use, and you must wear them when volunteering. Free online state tax filing I pay a babysitter to watch my children while I volunteer for a qualified organization. Free online state tax filing Can I deduct these costs? No, you cannot deduct payments for childcare expenses as a charitable contribution, even if you would be unable to volunteer without childcare. Free online state tax filing (If you have childcare expenses so you can work for pay, see Publication 503, Child and Dependent Care Expenses. Free online state tax filing ) Although you cannot deduct the value of your services given to a qualified organization, you may be able to deduct some amounts you pay in giving services to a qualified organization. Free online state tax filing The amounts must be: Unreimbursed, Directly connected with the services, Expenses you had only because of the services you gave, and Not personal, living, or family expenses. Free online state tax filing Table 2 contains questions and answers that apply to some individuals who volunteer their services. Free online state tax filing Underprivileged youths selected by charity. Free online state tax filing   You can deduct reasonable unreimbursed out-of-pocket expenses you pay to allow underprivileged youths to attend athletic events, movies, or dinners. Free online state tax filing The youths must be selected by a charitable organization whose goal is to reduce juvenile delinquency. Free online state tax filing Your own similar expenses in accompanying the youths are not deductible. Free online state tax filing Conventions. Free online state tax filing   If a qualified organization selects you to attend a convention as its representative, you can deduct your unreimbursed expenses for travel, including reasonable amounts for meals and lodging, while away from home overnight for the convention. Free online state tax filing However, see Travel , later. Free online state tax filing   You cannot deduct personal expenses for sightseeing, fishing parties, theater tickets, or nightclubs. Free online state tax filing You also cannot deduct travel, meals and lodging, and other expenses for your spouse or children. Free online state tax filing   You cannot deduct your travel expenses in attending a church convention if you go only as a member of your church rather than as a chosen representative. Free online state tax filing You can, however, deduct unreimbursed expenses that are directly connected with giving services for your church during the convention. Free online state tax filing Uniforms. Free online state tax filing   You can deduct the cost and upkeep of uniforms that are not suitable for everyday use and that you must wear while performing donated services for a charitable organization. Free online state tax filing Foster parents. Free online state tax filing   You may be able to deduct as a charitable contribution some of the costs of being a foster parent (foster care provider) if you have no profit motive in providing the foster care and are not, in fact, making a profit. Free online state tax filing A qualified organization must select the individuals you take into your home for foster care. Free online state tax filing   You can deduct expenses that meet both of the following requirements. Free online state tax filing They are unreimbursed out-of-pocket expenses to feed, clothe, and care for the foster child. Free online state tax filing They are incurred primarily to benefit the qualified organization. Free online state tax filing   Unreimbursed expenses that you cannot deduct as charitable contributions may be considered support provided by you in determining whether you can claim the foster child as a dependent. Free online state tax filing For details, see Publication 501, Exemptions, Standard Deduction, and Filing Information. Free online state tax filing Example. Free online state tax filing You cared for a foster child because you wanted to adopt her, not to benefit the agency that placed her in your home. Free online state tax filing Your unreimbursed expenses are not deductible as charitable contributions. Free online state tax filing Church deacon. Free online state tax filing   You can deduct as a charitable contribution any unreimbursed expenses you have while in a permanent diaconate program established by your church. Free online state tax filing These expenses include the cost of vestments, books, and transportation required in order to serve in the program as either a deacon candidate or an ordained deacon. Free online state tax filing Car expenses. Free online state tax filing   You can deduct as a charitable contribution any unreimbursed out-of-pocket expenses, such as the cost of gas and oil, directly related to the use of your car in giving services to a charitable organization. Free online state tax filing You cannot deduct general repair and maintenance expenses, depreciation, registration fees, or the costs of tires or insurance. Free online state tax filing   If you do not want to deduct your actual expenses, you can use a standard mileage rate of 14 cents a mile to figure your contribution. Free online state tax filing   You can deduct parking fees and tolls whether you use your actual expenses or the standard mileage rate. Free online state tax filing   You must keep reliable written records of your car expenses. Free online state tax filing For more information, see Car expenses under Records To Keep, later. Free online state tax filing Travel. Free online state tax filing   Generally, you can claim a charitable contribution deduction for travel expenses necessarily incurred while you are away from home performing services for a charitable organization only if there is no significant element of personal pleasure, recreation, or vacation in the travel. Free online state tax filing This applies whether you pay the expenses directly or indirectly. Free online state tax filing You are paying the expenses indirectly if you make a payment to the charitable organization and the organization pays for your travel expenses. Free online state tax filing   The deduction for travel expenses will not be denied simply because you enjoy providing services to the charitable organization. Free online state tax filing Even if you enjoy the trip, you can take a charitable contribution deduction for your travel expenses if you are on duty in a genuine and substantial sense throughout the trip. Free online state tax filing However, if you have only nominal duties, or if for significant parts of the trip you do not have any duties, you cannot deduct your travel expenses. Free online state tax filing Example 1. Free online state tax filing You are a troop leader for a tax-exempt youth group and you take the group on a camping trip. Free online state tax filing You are responsible for overseeing the setup of the camp and for providing adult supervision for other activities during the entire trip. Free online state tax filing You participate in the activities of the group and enjoy your time with them. Free online state tax filing You oversee the breaking of camp and you transport the group home. Free online state tax filing You can deduct your travel expenses. Free online state tax filing Example 2. Free online state tax filing You sail from one island to another and spend 8 hours a day counting whales and other forms of marine life. Free online state tax filing The project is sponsored by a charitable organization. Free online state tax filing In most circumstances, you cannot deduct your expenses. Free online state tax filing Example 3. Free online state tax filing You work for several hours each morning on an archeological dig sponsored by a charitable organization. Free online state tax filing The rest of the day is free for recreation and sightseeing. Free online state tax filing You cannot take a charitable contribution deduction even though you work very hard during those few hours. Free online state tax filing Example 4. Free online state tax filing You spend the entire day attending a charitable organization's regional meeting as a chosen representative. Free online state tax filing In the evening you go to the theater. Free online state tax filing You can claim your travel expenses as charitable contributions, but you cannot claim the cost of your evening at the theater. Free online state tax filing Daily allowance (per diem). Free online state tax filing   If you provide services for a charitable organization and receive a daily allowance to cover reasonable travel expenses, including meals and lodging while away from home overnight, you must include in income any part of the allowance that is more than your deductible travel expenses. Free online state tax filing You may be able to deduct any necessary travel expenses that are more than the allowance. Free online state tax filing Deductible travel expenses. Free online state tax filing   These include: Air, rail, and bus transportation, Out-of-pocket expenses for your car, Taxi fares or other costs of transportation between the airport or station and your hotel, Lodging costs, and The cost of meals. Free online state tax filing Because these travel expenses are not business-related, they are not subject to the same limits as business related expenses. Free online state tax filing For information on business travel expenses, see Travel in Publication 463, Travel, Entertainment, Gift, and Car Expenses. Free online state tax filing Expenses of Whaling Captains You may be able to deduct as a charitable contribution any reasonable and necessary whaling expenses you pay during the year to carry out sanctioned whaling activities. Free online state tax filing The deduction is limited to $10,000 a year. Free online state tax filing To claim the deduction, you must be recognized by the Alaska Eskimo Whaling Commission as a whaling captain charged with the responsibility of maintaining and carrying out sanctioned whaling activities. Free online state tax filing Sanctioned whaling activities are subsistence bowhead whale hunting activities conducted under the management plan of the Alaska Eskimo Whaling Commission. Free online state tax filing Whaling expenses include expenses for: Acquiring and maintaining whaling boats, weapons, and gear used in sanctioned whaling activities, Supplying food for the crew and other provisions for carrying out these activities, and Storing and distributing the catch from these activities. Free online state tax filing You must keep records showing the time, place, date, amount, and nature of the expenses. Free online state tax filing For details, see Revenue Procedure 2006-50, which is on page 944 of Internal Revenue Bulletin 2006-47 at www. Free online state tax filing irs. Free online state tax filing gov/pub/irs-irbs/irb06-47. Free online state tax filing pdf. Free online state tax filing Contributions You Cannot Deduct There are some contributions you cannot deduct and others you can deduct only in part. Free online state tax filing You cannot deduct as a charitable contribution: A contribution to a specific individual, A contribution to a nonqualified organization, The part of a contribution from which you receive or expect to receive a benefit, The value of your time or services, Your personal expenses, A qualified charitable distribution from an individual retirement arrangement (IRA), Appraisal fees, Certain contributions to donor-advised funds, or Certain contributions of partial interests in property. Free online state tax filing Detailed discussions of these items follow. Free online state tax filing Contributions to Individuals You cannot deduct contributions to specific individuals, including the following. Free online state tax filing Contributions to fraternal societies made for the purpose of paying medical or burial expenses of members. Free online state tax filing Contributions to individuals who are needy or worthy. Free online state tax filing You cannot deduct these contributions even if you make them to a qualified organization for the benefit of a specific person. Free online state tax filing But you can deduct a contribution to a qualified organization that helps needy or worthy individuals if you do not indicate that your contribution is for a specific person. Free online state tax filing Example. Free online state tax filing You can deduct contributions to a qualified organization for flood relief, hurricane relief, or other disaster relief. Free online state tax filing However, you cannot deduct contributions earmarked for relief of a particular individual or family. Free online state tax filing Payments to a member of the clergy that can be spent as he or she wishes, such as for personal expenses. Free online state tax filing Expenses you paid for another person who provided services to a qualified organization. Free online state tax filing Example. Free online state tax filing Your son does missionary work. Free online state tax filing You pay his expenses. Free online state tax filing You cannot claim a deduction for your son's unreimbursed expenses related to his contribution of services. Free online state tax filing Payments to a hospital that are for a specific patient's care or for services for a specific patient. Free online state tax filing You cannot deduct these payments even if the hospital is operated by a city, state, or other qualified organization. Free online state tax filing Contributions to Nonqualified Organizations You cannot deduct contributions to organizations that are not qualified to receive tax-deductible contributions, including the following. Free online state tax filing Certain state bar associations if: The bar is not a political subdivision of a state, The bar has private, as well as public, purposes, such as promoting the professional interests of members, and Your contribution is unrestricted and can be used for private purposes. Free online state tax filing Chambers of commerce and other business leagues or organizations. Free online state tax filing Civic leagues and associations. Free online state tax filing Communist organizations. Free online state tax filing Country clubs and other social clubs. Free online state tax filing Foreign organizations other than certain Canadian, Israeli, or Mexican charitable organizations. Free online state tax filing (See Canadian charities , Mexican charities , and Israeli charities under Organizations That Qualify To Receive Deductible Contributions, earlier. Free online state tax filing ) Also, you cannot deduct a contribution you made to any qualifying organization if the contribution is earmarked to go to a foreign organization. Free online state tax filing However, certain contributions to a qualified organization for use in a program conducted by a foreign charity may be deductible as long as they are not earmarked to go to the foreign charity. Free online state tax filing For the contribution to be deductible, the qualified organization must approve the program as furthering its own exempt purposes and must keep control over the use of the contributed funds. Free online state tax filing The contribution is also deductible if the foreign charity is only an administrative arm of the qualified organization. Free online state tax filing Homeowners' associations. Free online state tax filing Labor unions. Free online state tax filing But you may be able to deduct union dues as a miscellaneous itemized deduction, subject to the 2%-of-adjusted-gross-income limit, on Schedule A (Form 1040). Free online state tax filing See Publication 529, Miscellaneous Deductions. Free online state tax filing Political organizations and candidates. Free online state tax filing Contributions From Which You Benefit If you receive or expect to receive a financial or economic benefit as a result of making a contribution to a qualified organization, you cannot deduct the part of the contribution that represents the value of the benefit you receive. Free online state tax filing See Contributions From Which You Benefit under Contributions You Can Deduct, earlier. Free online state tax filing These contributions include the following. Free online state tax filing Contributions for lobbying. Free online state tax filing This includes amounts you earmark for use in, or in connection with, influencing specific legislation. Free online state tax filing Contributions to a retirement home for room, board, maintenance, or admittance. Free online state tax filing Also, if the amount of your contribution depends on the type or size of apartment you will occupy, it is not a charitable contribution. Free online state tax filing Costs of raffles, bingo, lottery, etc. Free online state tax filing You cannot deduct as a charitable contribution amounts you pay to buy raffle or lottery tickets or to play bingo or other games of chance. Free online state tax filing For information on how to report gambling winnings and losses, see Deductions Not Subject to the 2% Limit in Publication 529. Free online state tax filing Dues to fraternal orders and similar groups. Free online state tax filing However, see Membership fees or dues under Contributions From Which You Benefit, earlier. Free online state tax filing Tuition, or amounts you pay instead of tuition. Free online state tax filing You cannot deduct as a charitable contribution amounts you pay as tuition even if you pay them for children to attend parochial schools or qualifying nonprofit daycare centers. Free online state tax filing You also cannot deduct any fixed amount you must pay in addition to, or instead of, tuition to enroll in a private school, even if it is designated as a “donation. Free online state tax filing ” Contributions connected with split-dollar insurance arrangements. Free online state tax filing You cannot deduct any part of a contribution to a charitable organization if, in connection with the contribution, the organization directly or indirectly pays, has paid, or is expected to pay any premium on any life insurance, annuity, or endowment contract for which you, any member of your family, or any other person chosen by you (other than a qualified charitable organization) is a beneficiary. Free online state tax filing Example. Free online state tax filing You donate money to a charitable organization. Free online state tax filing The charity uses the money to purchase a cash value life insurance policy. Free online state tax filing The beneficiaries under the insurance policy include members of your family. Free online state tax filing Even though the charity may eventually get some benefit out of the insurance policy, you cannot deduct any part of the donation. Free online state tax filing Qualified Charitable Distributions A qualified charitable distribution (QCD) is a distribution made directly by the trustee of your individual retirement arrangement (IRA), other than a SEP or SIMPLE IRA, to certain qualified organizations. Free online state tax filing You must have been at least age 70½ when the distribution was made. Free online state tax filing Your total QCDs for the year cannot be more than $100,000. Free online state tax filing If all the requirements are met, a QCD is nontaxable, but you cannot claim a charitable contribution deduction for a QCD. Free online state tax filing See Publication 590, Individual Retirement Arrangements (IRAs), for more information about QCDs. Free online state tax filing Value of Time or Services You cannot deduct the value of your time or services, including: Blood donations to the American Red Cross or to blood banks, and The value of income lost while you work as an unpaid volunteer for a qualified organization. Free online state tax filing Personal Expenses You cannot deduct personal, living, or family expenses, such as the following items. Free online state tax filing The cost of meals you eat while you perform services for a qualified organization, unless it is necessary for you to be away from home overnight while performing the services. Free online state tax filing Adoption expenses, including fees paid to an adoption agency and the costs of keeping a child in your home before adoption is final. Free online state tax filing However, you may be able to claim a tax credit for these expenses. Free online state tax filing Also, you may be able to exclude from your gross income amounts paid or reimbursed by your employer for your adoption expenses. Free online state tax filing See Form 8839, Qualified Adoption Expenses, and its instructions, for more information. Free online state tax filing You also may be able to claim an exemption for the child. Free online state tax filing See Exemptions for Dependents in Publication 501 for more information. Free online state tax filing Appraisal Fees You cannot deduct as a charitable contribution any fees you pay to find the fair market value of donated property. Free online state tax filing But you can claim them, subject to the 2%-of-adjusted-gross-income limit, as a miscellaneous itemized deduction on Schedule A (Form 1040). Free online state tax filing See Deductions Subject to the 2% Limit in Publication 529 for more information. Free online state tax filing Contributions to Donor-Advised Funds You cannot deduct a contribution to a donor-advised fund if: The qualified organization that sponsors the fund is a war veterans' organization, a fraternal society, or a nonprofit cemetery company, or You do not have an acknowledgment from that sponsoring organization that it has exclusive legal control over the assets contributed. Free online state tax filing There are also other circumstances in which you cannot deduct your contribution to a donor-advised fund. Free online state tax filing Generally, a donor-advised fund is a fund or account in which a donor can, because of being a donor, advise the fund how to distribute or invest amounts held in the fund. Free online state tax filing For details, see Internal Revenue Code section 170(f)(18). Free online state tax filing Partial Interest in Property Generally, you cannot deduct a contribution of less than your entire interest in property. Free online state tax filing For details, see Partial Interest in Property under Contributions of Property, later. Free online state tax filing Contributions of Property If you contribute property to a qualified organization, the amount of your charitable contribution is generally the fair market value of the property at the time of the contribution. Free online state tax filing However, if the property has increased in value, you may have to make some adjustments to the amount of your deduction. Free online state tax filing See Giving Property That Has Increased in Value , later. Free online state tax filing For information about the records you must keep and the information you must furnish with your return if you donate property, see Records To Keep and How To Report , later. Free online state tax filing Contributions Subject to Special Rules Special rules apply if you contribute: Clothing or household items, A car, boat, or airplane, Taxidermy property, Property subject to a debt, A partial interest in property, A fractional interest in tangible personal property, A qualified conservation contribution, A future interest in tangible personal property, Inventory from your business, or A patent or other intellectual property. Free online state tax filing These special rules are described next. Free online state tax filing Clothing and Household Items You cannot take a deduction for clothing or household items you donate unless the clothing or household items are in good used condition or better. Free online state tax filing Exception. Free online state tax filing   You can take a deduction for a contribution of an item of clothing or a household item that is not in good used condition or better if you deduct more than $500 for it and include a qualified appraisal of it with your return. Free online state tax filing Household items. Free online state tax filing   Household items include: Furniture and furnishings, Electronics, Appliances, Linens, and Other similar items. Free online state tax filing   Household items do not include: Food, Paintings, antiques, and other objects of art, Jewelry and gems, and Collections. Free online state tax filing Fair market value. Free online state tax filing   To determine the fair market value of these items, use the rules under Determining Fair Market Value , later. Free online state tax filing Cars, Boats, and Airplanes The following rules apply to any donation of a qualified vehicle. Free online state tax filing A qualified vehicle is: A car or any motor vehicle manufactured mainly for use on public streets, roads, and highways, A boat, or An airplane. Free online state tax filing Deduction more than $500. Free online state tax filing   If you donate a qualified vehicle with a claimed fair market value of more than $500, you can deduct the smaller of: The gross proceeds from the sale of the vehicle by the organization, or The vehicle's fair market value on the date of the contribution. Free online state tax filing If the vehicle's fair market value was more than your cost or other basis, you may have to reduce the fair market value to figure the deductible amount, as described under Giving Property That Has Increased in Value , later. Free online state tax filing Form 1098-C. Free online state tax filing   You must attach to your return Copy B of the Form 1098-C, Contributions of Motor Vehicles, Boats, and Airplanes, (or other statement containing the same information as Form 1098-C) you received from the organization. Free online state tax filing The Form 1098-C (or other statement) will show the gross proceeds from the sale of the vehicle. Free online state tax filing   If you e-file your return, you must: Attach Copy B of Form 1098-C to Form 8453, U. Free online state tax filing S. Free online state tax filing Individual Income Tax Transmittal for an IRS e-file Return, and mail the forms to the IRS, or Include Copy B of Form 1098-C as a pdf attachment if your software program allows it. Free online state tax filing   If you do not attach Form 1098-C (or other statement), you cannot deduct your contribution. Free online state tax filing    You must get Form 1098-C (or other statement) within 30 days of the sale of the vehicle. Free online state tax filing But if exception 1 or 2 (described later) applies, you must get Form 1098-C (or other statement) within 30 days of your donation. Free online state tax filing Filing deadline approaching and still no Form 1098-C. Free online state tax filing   If the filing deadline is approaching and you still do not have a Form 1098-C, you have two choices. Free online state tax filing Request an automatic 6-month extension of time to file your return. Free online state tax filing You can get this extension by filing Form 4868, Application for Automatic Extension of Time To File U. Free online state tax filing S. Free online state tax filing Individual Income Tax Return. Free online state tax filing For more information, see the instructions for Form 4868. Free online state tax filing File the return on time without claiming the deduction for the qualified vehicle. Free online state tax filing After receiving the Form 1098-C, file an amended return, Form 1040X, Amended U. Free online state tax filing S. Free online state tax filing Individual Income Tax Return, claiming the deduction. Free online state tax filing Attach Copy B of Form 1098-C (or other statement) to the amended return. Free online state tax filing Exceptions. Free online state tax filing   There are two exceptions to the rules just described for deductions of more than $500. Free online state tax filing Exception 1—vehicle used or improved by organization. Free online state tax filing   If the qualified organization makes a significant intervening use of or material improvement to the vehicle before transferring it, you generally can deduct the vehicle's fair market value at the time of the contribution. Free online state tax filing But if the vehicle's fair market value was more than your cost or other basis, you may have to reduce the fair market value to get the deductible amount, as described under Giving Property That Has Increased in Value , later. Free online state tax filing The Form 1098-C (or other statement) will show whether this exception applies. Free online state tax filing    Exception 2—vehicle given or sold to needy individual. Free online state tax filing   If the qualified organization will give the vehicle, or sell it for a price well below fair market value, to a needy individual to further the organization's charitable purpose, you generally can deduct the vehicle's fair market value at the time of the contribution. Free online state tax filing But if the vehicle's fair market value was more than your cost or other basis, you may have to reduce the fair market value to get the deductible amount, as described under Giving Property That Has Increased in Value , later. Free online state tax filing The Form 1098-C (or other statement) will show whether this exception applies. Free online state tax filing   This exception does not apply if the organization sells the vehicle at auction. Free online state tax filing In that case, you cannot deduct the vehicle's fair market value. Free online state tax filing Example. Free online state tax filing Anita donates a used car to a qualified organization. Free online state tax filing She bought it 3 years ago for $9,000. Free online state tax filing A used car guide shows the fair market value for this type of car is $6,000. Free online state tax filing However, Anita gets a Form 1098-C from the organization showing the car was sold for $2,900. Free online state tax filing Neither exception 1 nor exception 2 applies. Free online state tax filing If Anita itemizes her deductions, she can deduct $2,900 for her donation. Free online state tax filing She must attach Form 1098-C and Form 8283 to her return. Free online state tax filing Deduction $500 or less. Free online state tax filing   If the qualified organization sells the vehicle for $500 or less and exceptions 1 and 2 do not apply, you can deduct the smaller of: $500, or The vehicle's fair market value on the date of the contribution. Free online state tax filing But if the vehicle's fair market value was more than your cost or other basis, you may have to reduce the fair market value to get the deductible amount, as described under Giving Property That Has Increased in Value , later. Free online state tax filing   If the vehicle's fair market value is at least $250 but not more than $500, you must have a written statement from the qualified organization acknowledging your donation. Free online state tax filing The statement must contain the information and meet the tests for an acknowledgment described under Contributions of $250 or More under Records To Keep, later. Free online state tax filing Fair market value. Free online state tax filing   To determine a vehicle's fair market value, use the rules described under Determining Fair Market Value , later. Free online state tax filing Donations of inventory. Free online state tax filing   The vehicle donation rules just described do not apply to donations of inventory. Free online state tax filing For example, these rules do not apply if you are a car dealer who donates a car you had been holding for sale to customers. Free online state tax filing See Inventory , later. Free online state tax filing Taxidermy Property If you donate taxidermy property to a qualified organization, your deduction is limited to your basis in the property or its fair market value, whichever is less. Free online state tax filing This applies if you prepared, stuffed, or mounted the property or paid or incurred the cost of preparing, stuffing, or mounting the property. Free online state tax filing Your basis for this purpose includes only the cost of preparing, stuffing, and mounting the property. Free online state tax filing Your basis does not include transportation or travel costs. Free online state tax filing It also does not include the direct or indirect costs for hunting or killing an animal, such as equipment costs. Free online state tax filing In addition, it does not include the value of your time. Free online state tax filing Taxidermy property means any work of art that: Is the reproduction or preservation of an animal, in whole or in part, Is prepared, stuffed, or mounted to recreate one or more characteristics of the animal, and Contains a part of the body of the dead animal. Free online state tax filing Property Subject to a Debt If you contribute property subject to a debt (such as a mortgage), you must reduce the fair market value of the property by: Any allowable deduction for interest you paid (or will pay) that is attributable to any period after the contribution, and If the property is a bond, the lesser of: Any allowable deduction for interest you paid (or will pay) to buy or carry the bond that is attributable to any period before the contribution, or The interest, including bond discount, receivable on the bond that is attributable to any period before the contribution, and that is not includible in your income due to your accounting method. Free online state tax filing This prevents you from deducting the same amount as both investment interest and a charitable contribution. Free online state tax filing If the recipient (or another person) assumes the debt, you must also reduce the fair market value of the property by the amount of the outstanding debt assumed. Free online state tax filing The amount of the debt is also treated as an amount realized on the sale or exchange of property for purposes of figuring your taxable gain (if any). Free online state tax filing For more information, see Bargain Sales under Giving Property That Has Increased in Value, later. Free online state tax filing Partial Interest in Property Generally, you cannot deduct a charitable contribution of less than your entire interest in property. Free online state tax filing Right to use property. Free online state tax filing   A contribution of the right to use property is a contribution of less than your entire interest in that property and is not deductible. Free online state tax filing Example 1. Free online state tax filing You own a 10-story office building and donate rent-free use of the top floor to a charitable organization. Free online state tax filing Because you still own the building, you have contributed a partial interest in the property and cannot take a deduction for the contribution. Free online state tax filing Example 2. Free online state tax filing Mandy White owns a vacation home at the beach that she sometimes rents to others. Free online state tax filing For a fund-raising auction at her church, she donated the right to use the vacation home for 1 week. Free online state tax filing At the auction, the church received and accepted a bid from Lauren Green equal to the fair rental value of the home for 1 week. Free online state tax filing Mandy cannot claim a deduction because of the partial interest rule. Free online state tax filing Lauren cannot claim a deduction either, because she received a benefit equal to the amount of her payment. Free online state tax filing See Contributions From Which You Benefit , earlier. Free online state tax filing Exceptions. Free online state tax filing   You can deduct a charitable contribution of a partial interest in property only if that interest represents one of the following items. Free online state tax filing A remainder interest in your personal home or farm. Free online state tax filing A remainder interest is one that passes to a beneficiary after the end of an earlier interest in the property. Free online state tax filing Example. Free online state tax filing You keep the right to live in your home during your lifetime and give your church a remainder interest that begins upon your death. Free online state tax filing You can deduct the value of the remainder interest. Free online state tax filing An undivided part of your entire interest. Free online state tax filing This must consist of a part of every substantial interest or right you own in the property and must last as long as your interest in the property lasts. Free online state tax filing But see Fractional Interest in Tangible Personal Property , later. Free online state tax filing Example. Free online state tax filing You contribute voting stock to a qualified organization but keep the right to vote the stock. Free online state tax filing The right to vote is a substantial right in the stock. Free online state tax filing You have not contributed an undivided part of your entire interest and cannot deduct your contribution. Free online state tax filing A partial interest that would be deductible if transferred to certain types of trusts. Free online state tax filing A qualified conservation contribution (defined later). Free online state tax filing For information about how to figure the value of a contribution of a partial interest in property, see Partial Interest in Property Not in Trust in Publication 561. Free online state tax filing Fractional Interest in Tangible Personal Property You cannot deduct a charitable contribution of a fractional interest in tangible personal property unless all interests in the property are held immediately before the contribution by: You, or You and the qualifying organization receiving the contribution. Free online state tax filing If you make an additional contribution later, the fair market value of that contribution will be determined by using the smaller of: The fair market value of the property at the time of the initial contribution, or The fair market value of the property at the time of the additional contribution. Free online state tax filing Tangible personal property is defined later under Future Interest in Tangible Personal Property . Free online state tax filing A fractional interest in property is an undivided portion of your entire interest in the property. Free online state tax filing Example. Free online state tax filing An undivided one-quarter interest in a painting that entitles an art museum to possession of the painting for 3 months of each year is a fractional interest in the property. Free online state tax filing Recapture of deduction. Free online state tax filing   You must recapture your charitable contribution deduction by including it in your income if both of the following statements are true. Free online state tax filing You contributed a fractional interest in tangible personal property after August 17, 2006. Free online state tax filing You do not contribute the rest of your interests in the property to the original recipient or, if it no longer exists, another qualified organization on or before the earlier of: The date that is 10 years after the date of the initial contribution, or The date of your death. Free online state tax filing   Recapture is also required if the qualified organization has not taken substantial physical possession of the property and used it in a way related to the organization's purpose during the period beginning on the date of the initial contribution and ending on the earlier of: The date that is 10 years after the date of the initial contribution, or The date of your death. Free online state tax filing Additional tax. Free online state tax filing   If you must recapture your deduction, you must also pay interest and an additional tax equal to 10% of the amount recaptured. Free online state tax filing Qualified Conservation Contribution A qualified conservation contribution is a contribution of a qualified real property interest to a qualified organization to be used only for conservation purposes. Free online state tax filing Qualified organization. Free online state tax filing   For purposes of a qualified conservation contribution, a qualified organization is: A governmental unit, A publicly supported charity, or An organization controlled by, and operated for the exclusive benefit of, a governmental unit or a publicly supported charity. Free online state tax filing The organization also must have a commitment to protect the conservation purposes of the donation and must have the resources to enforce the restrictions. Free online state tax filing   A publicly supported charity is an organization of the type described in (1) under Types of Qualified Organizations , earlier, that normally receives a substantial part of its support, other than income from its exempt activities, from direct or indirect contributions from the general public or from governmental units. Free online state tax filing Qualified real property interest. Free online state tax filing   This is any of the following interests in real property. Free online state tax filing Your entire interest in real estate other than a mineral interest (subsurface oil, gas, or other minerals, and the right of access to these minerals). Free online state tax filing A remainder interest. Free online state tax filing A restriction (granted in perpetuity) on the use that may be made of the real property. Free online state tax filing Conservation purposes. Free online state tax filing   Your contribution must be made only for one of the following conservation purposes. Free online state tax filing Preserving land areas for outdoor recreation by, or for the education of, the general public. Free online state tax filing Protecting a relatively natural habitat of fish, wildlife, or plants, or a similar ecosystem. Free online state tax filing Preserving open space, including farmland and forest land, if it yields a significant public benefit. Free online state tax filing The open space must be preserved either for the scenic enjoyment of the general public or under a clearly defined federal, state, or local governmental conservation policy. Free online state tax filing Preserving a historically important land area or a certified historic structure. Free online state tax filing Building in registered historic district. Free online state tax filing   If a building in a registered historic district is a certified historic structure, a contribution of a qualified real property interest that is an easement or other restriction on the exterior of the building is deductible only if it meets all of the following conditions. Free online state tax filing The restriction must preserve the entire exterior of the building (including its front, sides, rear, and height) and must prohibit any change to the exterior of the building that is inconsistent with its historical character. Free online state tax filing You and the organization receiving the contribution must enter into a written agreement certifying, under penalty of perjury, that the organization: Is a qualified organization with a purpose of environmental protection, land conservation, open space preservation, or historic preservation, and Has the resources to manage and enforce the restriction and a commitment to do so. Free online state tax filing You must include with your return: A qualified appraisal, Photographs of the building's entire exterior, and A description of all restrictions on development of the building, such as zoning laws and restrictive covenants. Free online state tax filing   If you claimed the rehabilitation credit for the building for any of the 5 years before the year of the contribution, your charitable deduction is reduced. Free online state tax filing For more information, see Form 3468, Investment Credit, and Internal Revenue Code section 170(f)(14). Free online state tax filing   If you claim a deduction of more than $10,000, your deduction will not be allowed unless you pay a $500 filing fee. Free online state tax filing See Form 8283-V, Payment Voucher for Filing Fee Under Section 170(f)(13), and its instructions. Free online state tax filing You may be able to deduct the filing fee as a miscellaneous itemized deduction, subject to the 2%-of-adjusted-gross-income limit, on Schedule A (Form 1040). Free online state tax filing See Deductions Subject to the 2% Limit in Publication 529 for more information. Free online state tax filing More information. Free online state tax filing   For information about determining the fair market value of qualified conservation contributions, see Publication 561. Free online state tax filing For information about the limits that apply to deductions for this type of contribution, see Limits on Deductions , later. Free online state tax filing For more information about qualified conservation contributions, see Regulations section 1. Free online state tax filing 170A-14. Free online state tax filing Future Interest in Tangible Personal Property You cannot deduct the value of a charitable contribution of a future interest in tangible personal property until all intervening interests in and rights to the actual possession or enjoyment of the property have either expired or been turned over to someone other than yourself, a related person, or a related organization. Free online state tax filing But see Fractional Interest in Tangible Personal Property , earlier, and Tangible personal property put to unrelated use , later. Free online state tax filing Related persons include your spouse, children, grandchildren, brothers, sisters, and parents. Free online state tax filing Related organizations may include a partnership or corporation in which you have an interest, or an estate or trust with which you have a connection. Free online state tax filing Tangible personal property. Free online state tax filing   This is any property, other than land or buildings, that can be seen or touched. Free online state tax filing It includes furniture, books, jewelry, paintings, and cars. Free online state tax filing Future interest. Free online state tax filing   This is any interest that is to begin at some future time, regardless of whether it is designated as a future interest under state law. Free online state tax filing Example. Free online state tax filing You own an antique car that you contribute to a museum. Free online state tax filing You give up ownership, but retain the right to keep the car in your garage with your personal collection. Free online state tax filing Because you keep an interest in the property, you cannot deduct the contribution. Free online state tax filing If you turn the car over to the museum in a later year, giving up all rights to its use, possession, and enjoyment, you can take a deduction for the contribution in that later year. Free online state tax filing Inventory If you contribute inventory (property you sell in the course of your business), the amount you can deduct is the smaller of its fair market value on the day you contributed it or its basis. Free online state tax filing The basis of contributed inventory is any cost incurred for the inventory in an earlier year that you would otherwise include in your opening inventory for the year of the contribution. Free online state tax filing You must remove the amount of your charitable contribution deduction from your opening inventory. Free online state tax filing It is not part of the cost of goods sold. Free online state tax filing If the cost of donated inventory is not included in your opening inventory, the inventory's basis is zero and you cannot claim a charitable contribution deduction. Free online state tax filing Treat the inventory's cost as you would ordinarily treat it under your method of accounting. Free online state tax filing For example, include the purchase price of inventory bought and donated in the same year in the cost of goods sold for that year. Free online state tax filing A special rule applies to certain donations of food inventory. Free online state tax filing See Food Inventory, later. Free online state tax filing Patents and Other Intellectual Property If you donate intellectual property to a qualified organization, your deduction is limited to the basis of the property or the fair market value of the property, whichever is smaller. Free online state tax filing Intellectual property means any of the following: Patents. Free online state tax filing Copyrights (other than a copyright described in Internal Revenue Code sections 1221(a)(3) or 1231(b)(1)(C)). Free online state tax filing Trademarks. Free online state tax filing Trade names. Free online state tax filing Trade secrets. Free online state tax filing Know-how. Free online state tax filing Software (other than software described in Internal Revenue Code section 197(e)(3)(A)(i)). Free online state tax filing Other similar property or applications or registrations of such property. Free online state tax filing Additional deduction based on income. Free online state tax filing   You may be able to claim additional charitable contribution deductions in the year of the contribution and years following, based on the income, if any, from the donated property. Free online state tax filing   The following table shows the percentage of income from the property that you can deduct for each of your tax years ending on or after the date of the contribution. Free online state tax filing In the table, “tax year 1,” for example, means your first tax year ending on or after the date of the contribution. Free online state tax filing However, you can take the additional deduction only to the extent the total of the amounts figured using this table is more than the amount of the deduction claimed for the original donation of the property. Free online state tax filing   After the legal life of the intellectual property ends, or after the 10th anniversary of the donation, whichever is earlier, no additional deduction is allowed. Free online state tax filing The additional deductions cannot be taken for intellectual property donated to certain private foundations. Free online state tax filing Tax year Deductible percentage 1 100% 2 100% 3 90% 4 80% 5 70% 6 60% 7 50% 8 40% 9 30% 10 20% 11 10% 12 10% Reporting requirements. Free online state tax filing   You must inform the organization at the time of the donation that you intend to treat the donation as a contribution subject to the provisions just discussed. Free online state tax filing   The organization is required to file an information return showing the income from the property, with a copy to you. Free online state tax filing This is done on Form 8899, Notice of Income From Donated Intellectual Property. Free online state tax filing Determining Fair Market Value This section discusses general guidelines for determining the fair market value of various types of donated property. Free online state tax filing Publication 561 contains a more complete discussion. Free online state tax filing Fair market value is the price at which property would change hands between a willing buyer and a willing seller, neither having to buy or sell, and both having reasonable knowledge of all the relevant facts. Free online state tax filing Used clothing. Free online state tax filing   The fair market value of used clothing and other personal items is usually far less than the price you paid for them. Free online state tax filing There are no fixed formulas or methods for finding the value of items of clothing. Free online state tax filing   You should claim as the value the price that buyers of used items actually pay in used clothing stores, such as consignment or thrift shops. Free online state tax filing      Also see Clothing and Household Items , earlier. Free online state tax filing Example. Free online state tax filing    Kristin donated a coat to a thrift store operated by her church. Free online state tax filing She paid $300 for the coat 3 years ago. Free online state tax filing Similar coats in the thrift store sell for $50. Free online state tax filing The fair market value of the coat is $50. Free online state tax filing Kristin's donation is limited to $50. Free online state tax filing Household items. Free online state tax filing   The fair market value of used household items, such as furniture, appliances, and linens, is usually much lower than the price paid when new. Free online state tax filing These items may have little or no market value because they are in a worn condition, out of style, or no longer useful. Free online state tax filing For these reasons, formulas (such as using a percentage of the cost to buy a new replacement item) are not acceptable in determining value. Free online state tax filing   You should support your valuation with photographs, canceled checks, receipts from your purchase of the items, or other evidence. Free online state tax filing Magazine or newspaper articles and photographs that describe the items and statements by the recipients of the items are also useful. Free online state tax filing Do not include any of this evidence with your tax return. Free online state tax filing   If the property is valuable because it is old or unique, see the discussion under Paintings, Antiques, and Other Objects of Art in Publication 561. Free online state tax filing   Also see Clothing and Household Items , earlier. Free online state tax filing Cars, boats, and airplanes. Free online state tax filing   If you contribute a car, boat, or airplane to a charitable organization, you must determine its fair market value. Free online state tax filing Boats. Free online state tax filing   Except for small, inexpensive boats, the valuation of boats should be based on an appraisal by a marine surveyor or appraiser because the physical condition is critical to the value. Free online state tax filing Cars. Free online state tax filing   Certain commercial firms and trade organizations publish used car pricing guides, commonly called “blue books,” containing complete dealer sale prices or dealer average prices for recent model years. Free online state tax filing The guides may be published monthly or seasonally, and for different regions of the country. Free online state tax filing These guides also provide estimates for adjusting for unusual equipment, unusual mileage, and physical condition. Free online state tax filing The prices are not “official” and these publications are not considered an appraisal of any specific donated property. Free online state tax filing But they do provide clues for making an appraisal and suggest relative prices for comparison with current sales and offerings in your area. Free online state tax filing   These publications are sometimes available from public libraries, or from the loan officer at a bank, credit union, or finance company. Free online state tax filing You can also find used car pricing information on the Internet. Free online state tax filing   To find the fair market value of a donated car, use the price listed in a used car guide for a private party sale, not the dealer retail value. Free online state tax filing However, the fair market value may be less if the car has engine trouble, body damage, high mileage, or any type of excessive wear. Free online state tax filing The fair market value of a donated car is the same as the price listed in a used car guide for a private party sale only if the guide lists a sales price for a car that is the same make, model, and year, sold in the same area, in the same condition, with the same or similar options or accessories, and with the same or similar warranties as the donated car. Free online state tax filing Example. Free online state tax filing You donate a used car in poor condition to a local high school for use by students studying car repair. Free online state tax filing A used car guide shows the dealer retail value for this type of car in poor condition is $1,600. Free online state tax filing However, the guide shows the price for a private party sale of the car is only $750. Free online state tax filing The fair market value of the car is considered to be $750. Free online state tax filing Large quantities. Free online state tax filing   If you contribute a large number of the same item, fair market value is the price at which comparable numbers of the item are being sold. Free online state tax filing Example. Free online state tax filing You purchase 500 bibles for $1,000. Free online state tax filing The person who sells them to you says the retail value of these bibles is $3,000. Free online state tax filing If you contribute the bibles to a qualified organization, you can claim a deduction only for the price at which similar numbers of the same bible are currently being sold. Free online state tax filing Your charitable contribution is $1,000, unless you can show that similar numbers of that bible wer
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Principal Reduction Alternative Under the Home Affordable Modification Program

Background


To help distressed homeowners lower their monthly mortgage payments, the U.S. Departments of the Treasury and of Housing and Urban Development established the Home Affordable Modification ProgramSM (HAMPSM) for mortgage loans that are not owned or guaranteed by Fannie Mae or Freddie Mac.

Under HAMP, a participating loan servicer must consider a sequence of modification steps for each eligible homeowner’s mortgage loan until the loan’s monthly payment is reduced to 31 percent of the homeowner’s verified monthly gross (pre-tax) income. Sometimes, a change in the mortgage loan’s interest rate is sufficient to reach the 31–percent target. Sometimes additional modification steps of term extension or forbearance are necessary as well. See the Home Affordable Modification Program (HAMP) page on the MakingHomeAffordable.gov website.

(For mortgage loans that are owned or guaranteed by Fannie Mae or Freddie Mac, eligible homeowners may be offered modifications under related programs also called “HAMP.” Because these related programs do not contain the principal reduction provision that these FAQs address, these FAQs use the term “HAMP” to refer only to the program for mortgage loans that are not owned or guaranteed by Fannie Mae or Freddie Mac.)

Since the last quarter of 2010, if a mortgage loan is being considered for a HAMP modification and if the ratio of the amount owed to the value of the home is greater than 115 percent, then the servicer must consider whether a Principal Reduction AlternativeSM (PRA) principal reduction should be effected as one part of the HAMP modification. See the Principal Reduction Alternative (PRA) page on the MakingHomeAffordable.gov website. 

For HAMP modifications that include a PRA principal reduction, the unpaid principal balance of the modified loan is divided into an interest-bearing principal amount and a non-interest-bearing PRA Forbearance Amount. If the homeowner then achieves a payment history that is sufficiently timely over a three-year period, the entire PRA Forbearance Amount is eventually reduced to zero. 

In connection with every HAMP modification of a loan that is not owned or guaranteed by Fannie Mae or Freddie Mac, to encourage participation in HAMP, the government provides incentives to the investor (that is, the holder of the loan), to the homeowner, and to the servicer. If a HAMP modification of such a mortgage loan includes a PRA principal reduction, the government makes additional incentive payments over three years to the investor. (These additional incentives are called “PRA investor incentive payments.”) The size of the PRA investor incentive payments depends not only on the amount of principal reduced but also on the loan-to-value ratio and the loan’s payment history before the HAMP modification. The PRA investor incentive payments range from 6% to 21% of the principal amount reduced.

For information on tax issues related to the Principal Reduction Alternative, see the questions and answers below.
 


Questions and Answers on Tax Issues Related to the Principal Reduction Alternative


Q1: If the government makes a PRA investor incentive payment to the holder of the mortgage loan, how is that payment analyzed for federal income tax purposes?

A1: The PRA investor incentive payment to the holder is treated as a payment on the loan by the government on behalf of the homeowner. 

Q2: Does a homeowner have income as a result of the government's having paid some of the homeowner’s mortgage loan by making a PRA investor incentive payment to the holder of the loan?

A2: No. This payment by the government on behalf of the homeowner is excludible from the homeowner’s income under the general welfare exclusion. Excluding this amount from the homeowner’s gross income is consistent with the treatment of Pay-for-Performance Success Payments, which are addressed in Revenue Ruling 2009–19

Q3: In a HAMP modification that includes a PRA principal reduction, the holder of the loan reduces the PRA Forbearance Amount by more than the PRA investor incentive payments (which are treated as payments on the loan on behalf of the homeowner). What federal income tax consequences for the homeowner result from that additional reduction by the holder?

A3: To the extent that the reduction in the PRA Forbearance Amount is more than the PRA investor incentive payments, the reduction is from the discharge of indebtedness. The full amount of this discharge of indebtedness is reported to the IRS and the homeowner on Form 1099–C, Cancellation of Debt, regardless of whether the homeowner may exclude any, or all, of it from gross income. See Questions 4 and 5 below for discussion of some exclusions that may apply.

Q4: Does the exclusion for qualified principal residence indebtedness apply to amounts discharged under a PRA principal reduction?

A4: The exclusion for qualified principal residence indebtedness may apply to a discharge of indebtedness under a PRA principal reduction if the amount discharged meets the criteria for qualified principal residence indebtedness. Under current law, this exclusion does not apply to discharges that occur after Dec. 31, 2013. For further discussion of the qualified principal residence exclusion, see the questions and answers on the The Mortgage Forgiveness Debt Relief Act and Debt Cancellation page.
 

Q5: Does the insolvency exclusion apply to amounts discharged under a PRA principal reduction?

A5: The insolvency exclusion may apply to a discharge of indebtedness under a PRA principal reduction to the extent that the taxpayer is insolvent when the discharge occurs. For further discussion of the insolvency exclusion, see page 4 of Publication 4681, Canceled Debts, Foreclosures, Repossessions, and Abandonments (for Individuals).

 

Page Last Reviewed or Updated: 06-Feb-2014

The Free Online State Tax Filing

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