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H&r Block Key Code Free State Filing

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H&r Block Key Code Free State Filing

H&r block key code free state filing 5. H&r block key code free state filing   Business Income Table of Contents Introduction Kinds of IncomeBartering for Property or Services Real Estate Rents Personal Property Rents Interest and Dividend Income Canceled Debt Other Income Items That Are Not IncomeAmount you can exclude. H&r block key code free state filing Short-term lease. H&r block key code free state filing Retail space. H&r block key code free state filing Qualified long-term real property. H&r block key code free state filing Guidelines for Selected Occupations Accounting for Your Income Introduction This chapter primarily explains business income and how to account for it on your tax return, what items are not considered income, and gives guidelines for selected occupations. H&r block key code free state filing If there is a connection between any income you receive and your business, the income is business income. H&r block key code free state filing A connection exists if it is clear that the payment of income would not have been made if you did not have the business. H&r block key code free state filing You can have business income even if you are not involved in the activity on a regular full-time basis. H&r block key code free state filing Income from work you do on the side in addition to your regular job can be business income. H&r block key code free state filing You report most business income, such as income from selling your products or services, on Schedule C or C-EZ. H&r block key code free state filing But you report the income from the sale of business assets, such as land and office buildings, on other forms instead of Schedule C or C-EZ. H&r block key code free state filing For information on selling business assets, see chapter 3. H&r block key code free state filing Nonemployee compensation. H&r block key code free state filing Business income includes amounts you received in your business that were properly shown on Forms 1099-MISC. H&r block key code free state filing This includes amounts reported as nonemployee compensation in box 7 of the form. H&r block key code free state filing You can find more information in the instructions on the back of the Form 1099-MISC you received. H&r block key code free state filing Kinds of Income You must report on your tax return all income you receive from your business unless it is excluded by law. H&r block key code free state filing In most cases, your business income will be in the form of cash, checks, and credit card charges. H&r block key code free state filing But business income can be in other forms, such as property or services. H&r block key code free state filing These and other types of income are explained next. H&r block key code free state filing If you are a U. H&r block key code free state filing S. H&r block key code free state filing citizen who has business income from sources outside the United States (foreign income), you must report that income on your tax return unless it is exempt from tax under U. H&r block key code free state filing S. H&r block key code free state filing law. H&r block key code free state filing If you live outside the United States, you may be able to exclude part or all of your foreign-source business income. H&r block key code free state filing For details, see Publication 54, Tax Guide for U. H&r block key code free state filing S. H&r block key code free state filing Citizens and Resident Aliens Abroad. H&r block key code free state filing Bartering for Property or Services Bartering is an exchange of property or services. H&r block key code free state filing You must include in your gross receipts, at the time received, the fair market value of property or services you receive in exchange for something else. H&r block key code free state filing If you exchange services with another person and you both have agreed ahead of time on the value of the services, that value will be accepted as the fair market value unless the value can be shown to be otherwise. H&r block key code free state filing Example 1. H&r block key code free state filing You are a self-employed lawyer. H&r block key code free state filing You perform legal services for a client, a small corporation. H&r block key code free state filing In payment for your services, you receive shares of stock in the corporation. H&r block key code free state filing You must include the fair market value of the shares in income. H&r block key code free state filing Example 2. H&r block key code free state filing You are an artist and create a work of art to compensate your landlord for the rent-free use of your apartment. H&r block key code free state filing You must include the fair rental value of the apartment in your gross receipts. H&r block key code free state filing Your landlord must include the fair market value of the work of art in his or her rental income. H&r block key code free state filing Example 3. H&r block key code free state filing You are a self-employed accountant. H&r block key code free state filing Both you and a house painter are members of a barter club, an organization that each year gives its members a directory of members and the services each member provides. H&r block key code free state filing Members get in touch with other members directly and bargain for the value of the services to be performed. H&r block key code free state filing In return for accounting services you provided for the house painter's business, the house painter painted your home. H&r block key code free state filing You must include in gross receipts the fair market value of the services you received from the house painter. H&r block key code free state filing The house painter must include the fair market value of your accounting services in his or her gross receipts. H&r block key code free state filing Example 4. H&r block key code free state filing You are a member of a barter club that uses credit units to credit or debit members' accounts for goods or services provided or received. H&r block key code free state filing As soon as units are credited to your account, you can use them to buy goods or services or sell or transfer the units to other members. H&r block key code free state filing You must include the value of credit units you received in your gross receipts for the tax year in which the units are credited to your account. H&r block key code free state filing The dollar value of units received for services by an employee of the club, who can use the units in the same manner as other members, must be included in the employee's gross income for the tax year in which received. H&r block key code free state filing It is wages subject to social security and Medicare taxes (FICA), federal unemployment taxes (FUTA), and income tax withholding. H&r block key code free state filing See Publication 15 (Circular E), Employer's Tax Guide. H&r block key code free state filing Example 5. H&r block key code free state filing You operate a plumbing business and use the cash method of accounting. H&r block key code free state filing You join a barter club and agree to provide plumbing services to any member for a specified number of hours. H&r block key code free state filing Each member has access to a directory that lists the members of the club and the services available. H&r block key code free state filing Members contact each other directly and request services to be performed. H&r block key code free state filing You are not required to provide services unless requested by another member, but you can use as many of the offered services as you wish without paying a fee. H&r block key code free state filing You must include the fair market value of any services you receive from club members in your gross receipts when you receive them even if you have not provided any services to club members. H&r block key code free state filing Information returns. H&r block key code free state filing   If you are involved in a bartering transaction, you may have to file either of the following forms. H&r block key code free state filing Form 1099-B, Proceeds From Broker and Barter Exchange Transactions. H&r block key code free state filing Form 1099-MISC, Miscellaneous Income. H&r block key code free state filing For information about these forms, see the General Instructions for Certain Information Returns. H&r block key code free state filing Real Estate Rents If you are a real estate dealer who receives income from renting real property or an owner of a hotel, motel, etc. H&r block key code free state filing , who provides services (maid services, etc. H&r block key code free state filing ) for guests, report the rental income and expenses on Schedule C or C-EZ. H&r block key code free state filing If you are not a real estate dealer or the kind of owner described in the preceding sentence, report the rental income and expenses on Schedule E. H&r block key code free state filing For more information, see Publication 527, Residential Rental Property (Including Rental of Vacation Homes). H&r block key code free state filing Real estate dealer. H&r block key code free state filing   You are a real estate dealer if you are engaged in the business of selling real estate to customers with the purpose of making a profit from those sales. H&r block key code free state filing Rent you receive from real estate held for sale to customers is subject to SE tax. H&r block key code free state filing However, rent you receive from real estate held for speculation or investment is not subject to SE tax. H&r block key code free state filing Trailer park owner. H&r block key code free state filing   Rental income from a trailer park is subject to SE tax if you are a self-employed trailer park owner who provides trailer lots and facilities and substantial services for the convenience of your tenants. H&r block key code free state filing    You generally are considered to provide substantial services for tenants if they are primarily for the tenants' convenience and normally are not provided to maintain the lots in a condition for occupancy. H&r block key code free state filing Services are substantial if the compensation for the services makes up a material part of the tenants' rental payments. H&r block key code free state filing   Examples of services that are not normally provided for the tenants' convenience include supervising and maintaining a recreational hall provided by the park, distributing a monthly newsletter to tenants, operating a laundry facility, and helping tenants buy or sell their trailers. H&r block key code free state filing   Examples of services that are normally provided to maintain the lots in a condition for tenant occupancy include city sewerage, electrical connections, and roadways. H&r block key code free state filing Hotels, boarding houses, and apartments. H&r block key code free state filing   Rental income you receive for the use or occupancy of hotels, boarding houses, or apartment houses is subject to SE tax if you provide services for the occupants. H&r block key code free state filing   Generally, you are considered to provide services for the occupants if the services are primarily for their convenience and are not services normally provided with the rental of rooms for occupancy only. H&r block key code free state filing An example of a service that is not normally provided for the convenience of the occupants is maid service. H&r block key code free state filing However, providing heat and light, cleaning stairways and lobbies, and collecting trash are services normally provided for the occupants' convenience. H&r block key code free state filing Prepaid rent. H&r block key code free state filing   Advance payments received under a lease that does not put any restriction on their use or enjoyment are income in the year you receive them. H&r block key code free state filing This is true no matter what accounting method or period you use. H&r block key code free state filing Lease bonus. H&r block key code free state filing   A bonus you receive from a lessee for granting a lease is an addition to the rent. H&r block key code free state filing Include it in your gross receipts in the year received. H&r block key code free state filing Lease cancellation payments. H&r block key code free state filing   Report payments you receive from your lessee for canceling a lease in your gross receipts in the year received. H&r block key code free state filing Payments to third parties. H&r block key code free state filing   If your lessee makes payments to someone else under an agreement to pay your debts or obligations, include the payments in your gross receipts when the lessee makes the payments. H&r block key code free state filing A common example of this kind of income is a lessee's payment of your property taxes on leased real property. H&r block key code free state filing Settlement payments. H&r block key code free state filing   Payments you receive in settlement of a lessee's obligation to restore the leased property to its original condition are income in the amount that the payments exceed the adjusted basis of the leasehold improvements destroyed, damaged, removed, or disconnected by the lessee. H&r block key code free state filing Personal Property Rents If you are in the business of renting personal property (equipment, vehicles, formal wear, etc. H&r block key code free state filing ), include the rental amount you receive in your gross receipts on Schedule C or C-EZ. H&r block key code free state filing Prepaid rent and other payments described in the preceding Real Estate Rents discussion can also be received for renting personal property. H&r block key code free state filing If you receive any of those payments, include them in your gross receipts as explained in that discussion. H&r block key code free state filing Interest and Dividend Income Interest and dividends may be considered business income. H&r block key code free state filing Interest. H&r block key code free state filing   Interest received on notes receivable that you have accepted in the ordinary course of business is business income. H&r block key code free state filing Interest received on loans is business income if you are in the business of lending money. H&r block key code free state filing Uncollectible loans. H&r block key code free state filing   If a loan payable to you becomes uncollectible during the tax year and you use an accrual method of accounting, you must include in gross income interest accrued up to the time the loan became uncollectible. H&r block key code free state filing If the accrued interest later becomes uncollectible, you may be able to take a bad debt deduction. H&r block key code free state filing See Bad Debts in chapter 8. H&r block key code free state filing Unstated interest. H&r block key code free state filing   If little or no interest is charged on an installment sale, you may have to treat a part of each payment as unstated interest. H&r block key code free state filing See Unstated Interest and Original Issue Discount (OID) in Publication 537, Installment Sales. H&r block key code free state filing Dividends. H&r block key code free state filing   Generally, dividends are business income to dealers in securities. H&r block key code free state filing For most sole proprietors and statutory employees, however, dividends are nonbusiness income. H&r block key code free state filing If you hold stock as a personal investment separately from your business activity, the dividends from the stock are nonbusiness income. H&r block key code free state filing   If you receive dividends from business insurance premiums you deducted in an earlier year, you must report all or part of the dividend as business income on your return. H&r block key code free state filing To find out how much you have to report, see   Recovery of items previously deducted under Other Income, later. H&r block key code free state filing Canceled Debt The following explains the general rule for including canceled debt in income and the exceptions to the general rule. H&r block key code free state filing General Rule Generally, if your debt is canceled or forgiven, other than as a gift or bequest to you, you must include the canceled amount in your gross income for tax purposes. H&r block key code free state filing Report the canceled amount on line 6 of Schedule C if you incurred the debt in your business. H&r block key code free state filing If the debt is a nonbusiness debt, report the canceled amount on line 21 of Form 1040. H&r block key code free state filing Exceptions The following discussion covers some exceptions to the general rule for canceled debt. H&r block key code free state filing Price reduced after purchase. H&r block key code free state filing   If you owe a debt to the seller for property you bought and the seller reduces the amount you owe, you generally do not have income from the reduction. H&r block key code free state filing Unless you are bankrupt or insolvent, treat the amount of the reduction as a purchase price adjustment and reduce your basis in the property. H&r block key code free state filing Deductible debt. H&r block key code free state filing   You do not realize income from a canceled debt to the extent the payment of the debt would have led to a deduction. H&r block key code free state filing Example. H&r block key code free state filing You get accounting services for your business on credit. H&r block key code free state filing Later, you have trouble paying your business debts, but you are not bankrupt or insolvent. H&r block key code free state filing Your accountant forgives part of the amount you owe for the accounting services. H&r block key code free state filing How you treat the canceled debt depends on your method of accounting. H&r block key code free state filing Cash method — You do not include the canceled debt in income because payment of the debt would have been deductible as a business expense. H&r block key code free state filing Accrual method — You include the canceled debt in income because the expense was deductible when you incurred the debt. H&r block key code free state filing   For information on the cash and accrual methods of accounting, see chapter 2. H&r block key code free state filing Exclusions Do not include canceled debt in income in the following situations. H&r block key code free state filing However, you may be required to file Form 982, Reduction of Tax Attributes Due to Discharge of Indebtedness. H&r block key code free state filing For more information, see Form 982. H&r block key code free state filing The cancellation takes place in a bankruptcy case under title 11 of the U. H&r block key code free state filing S. H&r block key code free state filing Code (relating to bankruptcy). H&r block key code free state filing See Publication 908, Bankruptcy Tax Guide. H&r block key code free state filing The cancellation takes place when you are insolvent. H&r block key code free state filing You can exclude the canceled debt to the extent you are insolvent. H&r block key code free state filing See Publication 908. H&r block key code free state filing The canceled debt is a qualified farm debt owed to a qualified person. H&r block key code free state filing See chapter 3 in Publication 225, Farmer's Tax Guide. H&r block key code free state filing The canceled debt is a qualified real property business debt. H&r block key code free state filing This situation is explained later. H&r block key code free state filing The canceled debt is qualified principal residence indebtedness which is discharged after 2006. H&r block key code free state filing See Form 982. H&r block key code free state filing If a canceled debt is excluded from income because it takes place in a bankruptcy case, the exclusions in situations 2 through 5 do not apply. H&r block key code free state filing If it takes place when you are insolvent, the exclusions in situations 3 and 4 do not apply to the extent you are insolvent. H&r block key code free state filing Debt. H&r block key code free state filing   For purposes of this discussion, debt includes any debt for which you are liable or which attaches to property you hold. H&r block key code free state filing Qualified real property business debt. H&r block key code free state filing   You can elect to exclude (up to certain limits) the cancellation of qualified real property business debt. H&r block key code free state filing If you make the election, you must reduce the basis of your depreciable real property by the amount excluded. H&r block key code free state filing Make this reduction at the beginning of your tax year following the tax year in which the cancellation occurs. H&r block key code free state filing However, if you dispose of the property before that time, you must reduce its basis immediately before the disposition. H&r block key code free state filing Cancellation of qualified real property business debt. H&r block key code free state filing   Qualified real property business debt is debt (other than qualified farm debt) that meets all the following conditions. H&r block key code free state filing It was incurred or assumed in connection with real property used in a trade or business. H&r block key code free state filing It was secured by such real property. H&r block key code free state filing It was incurred or assumed at either of the following times. H&r block key code free state filing Before January 1, 1993. H&r block key code free state filing After December 31, 1992, if incurred or assumed to acquire, construct, or substantially improve the real property. H&r block key code free state filing It is debt to which you choose to apply these rules. H&r block key code free state filing   Qualified real property business debt includes refinancing of debt described in (3) earlier, but only to the extent it does not exceed the debt being refinanced. H&r block key code free state filing   You cannot exclude more than either of the following amounts. H&r block key code free state filing The excess (if any) of: The outstanding principal of qualified real property business debt (immediately before the cancellation), over The fair market value (immediately before the cancellation) of the business real property that is security for the debt, reduced by the outstanding principal amount of any other qualified real property business debt secured by this property immediately before the cancellation. H&r block key code free state filing The total adjusted bases of depreciable real property held by you immediately before the cancellation. H&r block key code free state filing These adjusted bases are determined after any basis reduction due to a cancellation in bankruptcy, insolvency, or of qualified farm debt. H&r block key code free state filing Do not take into account depreciable real property acquired in contemplation of the cancellation. H&r block key code free state filing Election. H&r block key code free state filing   To make this election, complete Form 982 and attach it to your income tax return for the tax year in which the cancellation occurs. H&r block key code free state filing You must file your return by the due date (including extensions). H&r block key code free state filing If you timely filed your return for the year without making the election, you can still make the election by filing an amended return within 6 months of the due date of the return (excluding extensions). H&r block key code free state filing For more information, see When To File in the form instructions. H&r block key code free state filing Other Income The following discussion explains how to treat other types of business income you may receive. H&r block key code free state filing Restricted property. H&r block key code free state filing   Restricted property is property that has certain restrictions that affect its value. H&r block key code free state filing If you receive restricted stock or other property for services performed, the fair market value of the property in excess of your cost is included in your income on Schedule C or C-EZ when the restriction is lifted. H&r block key code free state filing However, you can choose to be taxed in the year you receive the property. H&r block key code free state filing For more information on including restricted property in income, see Publication 525, Taxable and Nontaxable Income. H&r block key code free state filing Gains and losses. H&r block key code free state filing   Do not report on Schedule C or C-EZ a gain or loss from the disposition of property that is neither stock in trade nor held primarily for sale to customers. H&r block key code free state filing Instead, you must report these gains and losses on other forms. H&r block key code free state filing For more information, see chapter 3. H&r block key code free state filing Promissory notes. H&r block key code free state filing   Report promissory notes and other evidences of debt issued to you in a sale or exchange of property that is stock in trade or held primarily for sale to customers on Schedule C or C-EZ. H&r block key code free state filing In general, you report them at their stated principal amount (minus any unstated interest) when you receive them. H&r block key code free state filing Lost income payments. H&r block key code free state filing   If you reduce or stop your business activities, report on Schedule C or C-EZ any payment you receive for the lost income of your business from insurance or other sources. H&r block key code free state filing Report it on Schedule C or C-EZ even if your business is inactive when you receive the payment. H&r block key code free state filing Damages. H&r block key code free state filing   You must include in gross income compensation you receive during the tax year as a result of any of the following injuries connected with your business. H&r block key code free state filing Patent infringement. H&r block key code free state filing Breach of contract or fiduciary duty. H&r block key code free state filing Antitrust injury. H&r block key code free state filing Economic injury. H&r block key code free state filing   You may be entitled to a deduction against the income if it compensates you for actual economic injury. H&r block key code free state filing Your deduction is the smaller of the following amounts. H&r block key code free state filing The amount you receive or accrue for damages in the tax year reduced by the amount you pay or incur in the tax year to recover that amount. H&r block key code free state filing Your loss from the injury that you have not yet deducted. H&r block key code free state filing Punitive damages. H&r block key code free state filing   You must also include punitive damages in income. H&r block key code free state filing Kickbacks. H&r block key code free state filing   If you receive any kickbacks, include them in your income on Schedule C or C-EZ. H&r block key code free state filing However, do not include them if you properly treat them as a reduction of a related expense item, a capital expenditure, or cost of goods sold. H&r block key code free state filing Recovery of items previously deducted. H&r block key code free state filing   If you recover a bad debt or any other item deducted in a previous year, include the recovery in income on Schedule C or C-EZ. H&r block key code free state filing However, if all or part of the deduction in earlier years did not reduce your tax, you can exclude the part that did not reduce your tax. H&r block key code free state filing If you exclude part of the recovery from income, you must include with your return a computation showing how you figured the exclusion. H&r block key code free state filing Example. H&r block key code free state filing Joe Smith, a sole proprietor, had gross income of $8,000, a bad debt deduction of $300, and other allowable deductions of $7,700. H&r block key code free state filing He also had 2 personal exemptions for a total of $7,800. H&r block key code free state filing He would not pay income tax even if he did not deduct the bad debt. H&r block key code free state filing Therefore, he will not report as income any part of the $300 he may recover in any future year. H&r block key code free state filing Exception for depreciation. H&r block key code free state filing   This rule does not apply to depreciation. H&r block key code free state filing You recover depreciation using the rules explained next. H&r block key code free state filing Recapture of depreciation. H&r block key code free state filing   In the following situations, you have to recapture the depreciation deduction. H&r block key code free state filing This means you include in income part or all of the depreciation you deducted in previous years. H&r block key code free state filing Listed property. H&r block key code free state filing   If your business use of listed property (explained in chapter 8 under Depreciation ) falls to 50% or less in a tax year after the tax year you placed the property in service, you may have to recapture part of the depreciation deduction. H&r block key code free state filing You do this by including in income on Schedule C part of the depreciation you deducted in previous years. H&r block key code free state filing Use Part IV of Form 4797, Sales of Business Property, to figure the amount to include on Schedule C. H&r block key code free state filing For more information, see What is the Business-Use Requirement? in chapter 5 of Publication 946, How To Depreciate Property. H&r block key code free state filing That chapter explains how to determine whether property is used more than 50% in your business. H&r block key code free state filing Section 179 property. H&r block key code free state filing   If you take a section 179 deduction (explained in chapter 8 under Depreciation ) for an asset and before the end of the asset's recovery period the percentage of business use drops to 50% or less, you must recapture part of the section 179 deduction. H&r block key code free state filing You do this by including in income on Schedule C part of the deduction you took. H&r block key code free state filing Use Part IV of Form 4797 to figure the amount to include on Schedule C. H&r block key code free state filing See chapter 2 in Publication 946 to find out when you recapture the deduction. H&r block key code free state filing Sale or exchange of depreciable property. H&r block key code free state filing   If you sell or exchange depreciable property at a gain, you may have to treat all or part of the gain due to depreciation as ordinary income. H&r block key code free state filing You figure the income due to depreciation recapture in Part III of Form 4797. H&r block key code free state filing For more information, see chapter 4 in Publication 544, Sales and Other Dispositions of Assets. H&r block key code free state filing Items That Are Not Income In some cases the property or money you receive is not income. H&r block key code free state filing Appreciation. H&r block key code free state filing   Increases in value of your property are not income until you realize the increases through a sale or other taxable disposition. H&r block key code free state filing Consignments. H&r block key code free state filing   Consignments of merchandise to others to sell for you are not sales. H&r block key code free state filing The title of merchandise remains with you, the consignor, even after the consignee possesses the merchandise. H&r block key code free state filing Therefore, if you ship goods on consignment, you have no profit or loss until the consignee sells the merchandise. H&r block key code free state filing Merchandise you have shipped out on consignment is included in your inventory until it is sold. H&r block key code free state filing   Do not include merchandise you receive on consignment in your inventory. H&r block key code free state filing Include your profit or commission on merchandise consigned to you in your income when you sell the merchandise or when you receive your profit or commission, depending upon the method of accounting you use. H&r block key code free state filing Construction allowances. H&r block key code free state filing   If you enter into a lease after August 5, 1997, you can exclude from income the construction allowance you receive (in cash or as a rent reduction) from your landlord if you receive it under both the following conditions. H&r block key code free state filing Under a short-term lease of retail space. H&r block key code free state filing For the purpose of constructing or improving qualified long-term real property for use in your business at that retail space. H&r block key code free state filing Amount you can exclude. H&r block key code free state filing   You can exclude the construction allowance to the extent it does not exceed the amount you spent for construction or improvements. H&r block key code free state filing Short-term lease. H&r block key code free state filing   A short-term lease is a lease (or other agreement for occupancy or use) of retail space for 15 years or less. H&r block key code free state filing The following rules apply in determining whether the lease is for 15 years or less. H&r block key code free state filing Take into account options to renew when figuring whether the lease is for 15 years or less. H&r block key code free state filing But do not take into account any option to renew at fair market value determined at the time of renewal. H&r block key code free state filing Two or more successive leases that are part of the same transaction (or a series of related transactions) for the same or substantially similar retail space are treated as one lease. H&r block key code free state filing Retail space. H&r block key code free state filing   Retail space is real property leased, occupied, or otherwise used by you as a tenant in your business of selling tangible personal property or services to the general public. H&r block key code free state filing Qualified long-term real property. H&r block key code free state filing   Qualified long-term real property is nonresidential real property that is part of, or otherwise present at, your retail space and that reverts to the landlord when the lease ends. H&r block key code free state filing Exchange of like-kind property. H&r block key code free state filing   If you exchange your business property or property you hold for investment solely for property of a like kind to be used in your business or to be held for investment, no gain or loss is recognized. H&r block key code free state filing This means that the gain is not taxable and the loss is not deductible. H&r block key code free state filing A common type of nontaxable exchange is the trade-in of a business automobile for another business automobile. H&r block key code free state filing For more information, see Form 8824. H&r block key code free state filing Leasehold improvements. H&r block key code free state filing   If a tenant erects buildings or makes improvements to your property, the increase in the value of the property due to the improvements is not income to you. H&r block key code free state filing However, if the facts indicate that the improvements are a payment of rent to you, then the increase in value would be income. H&r block key code free state filing Loans. H&r block key code free state filing   Money borrowed through a bona fide loan is not income. H&r block key code free state filing Sales tax. H&r block key code free state filing   State and local sales taxes imposed on the buyer, which you were required to collect and pay over to state or local governments, are not income. H&r block key code free state filing Guidelines for Selected Occupations This section provides information to determine whether your earnings should be reported on Schedule C (Form 1040) or C-EZ (Form 1040). H&r block key code free state filing Direct seller. H&r block key code free state filing   You must report all income you receive as a direct seller on Schedule C or C-EZ. H&r block key code free state filing This includes any of the following. H&r block key code free state filing Income from sales—payments you receive from customers for products they buy from you. H&r block key code free state filing Commissions, bonuses, or percentages you receive for sales and the sales of others who work under you. H&r block key code free state filing Prizes, awards, and gifts you receive from your selling business. H&r block key code free state filing You must report this income regardless of whether it is reported to you on an information return. H&r block key code free state filing   You are a direct seller if you meet all the following conditions. H&r block key code free state filing You are engaged in one of the following trades or businesses. H&r block key code free state filing Selling or soliciting the sale of consumer products either in a home or other place that is not a permanent retail establishment, or to any buyer on a buy-sell basis or a deposit-commission basis for resale in a home or other place of business that is not a permanent retail establishment. H&r block key code free state filing Delivering or distributing newspapers or shopping news (including any services directly related to that trade or business). H&r block key code free state filing Substantially all your pay (whether paid in cash or not) for services described above is directly related to sales or other output (including performance of services) rather than to the number of hours worked. H&r block key code free state filing Your services are performed under a written contract between you and the person for whom you perform the services, and the contract provides that you will not be treated as an employee for federal tax purposes. H&r block key code free state filing Executor or administrator. H&r block key code free state filing   If you administer a deceased person's estate, your fees are reported on Schedule C or C-EZ if you are one of the following: A professional fiduciary. H&r block key code free state filing A nonprofessional fiduciary (personal representative) and both of the following apply. H&r block key code free state filing The estate includes an active trade or business in which you actively participate. H&r block key code free state filing Your fees are related to the operation of that trade or business. H&r block key code free state filing A nonprofessional fiduciary of a single estate that requires extensive managerial activities on your part for a long period of time, provided these activities are enough to be considered a trade or business. H&r block key code free state filing    If the fees do not meet the above requirements, report them on line 21 of Form 1040. H&r block key code free state filing Fishing crew member. H&r block key code free state filing    If you are a member of the crew that catches fish or other water life, your earnings are reported on Schedule C or C-EZ if you meet all the requirements shown in chapter 10 under Fishing crew member . H&r block key code free state filing Insurance agent, former. H&r block key code free state filing   Termination payments you receive as a former self-employed insurance agent from an insurance company because of services you performed for that company are not reported on Schedule C or C-EZ if all the following conditions are met. H&r block key code free state filing You received payments after your agreement to perform services for the company ended. H&r block key code free state filing You did not perform any services for the company after your service agreement ended and before the end of the year in which you received the payment. H&r block key code free state filing You entered into a covenant not to compete against the company for at least a 1-year period beginning on the date your service agreement ended. H&r block key code free state filing The amount of the payments depended primarily on policies sold by you or credited to your account during the last year of your service agreement or the extent to which those policies remain in force for some period after your service agreement ended, or both. H&r block key code free state filing The amount of the payment did not depend to any extent on length of service or overall earnings from services performed for the company (regardless of whether eligibility for the payments depended on length of service). H&r block key code free state filing Insurance agent, retired. H&r block key code free state filing   Income paid by an insurance company to a retired self-employed insurance agent based on a percentage of commissions received before retirement is reported on Schedule C or C-EZ. H&r block key code free state filing Also, renewal commissions and deferred commissions for sales made before retirement are generally reported on Schedule C or C-EZ. H&r block key code free state filing   However, renewal commissions paid to the survivor of an insurance agent are not reported on Schedule C or C-EZ. H&r block key code free state filing Newspaper carrier or distributor. H&r block key code free state filing   You are a direct seller and your earnings are reported on Schedule C or C-EZ if all the following conditions apply. H&r block key code free state filing You are in the business of delivering or distributing newspapers or shopping news (including directly related services such as soliciting customers and collecting receipts). H&r block key code free state filing Substantially all your pay for these services directly relates to your sales or other output rather than to the number of hours you work. H&r block key code free state filing You perform the services under a written contract that says you will not be treated as an employee for federal tax purposes. H&r block key code free state filing   This rule applies whether or not you hire others to help you make deliveries. H&r block key code free state filing It also applies whether you buy the papers from the publisher or are paid based on the number of papers you deliver. H&r block key code free state filing Newspaper or magazine vendor. H&r block key code free state filing   If you are 18 or older and you sell newspapers or magazines, your earnings are reported on Schedule C or C-EZ if all the following conditions apply. H&r block key code free state filing You sell newspapers or magazines to ultimate consumers. H&r block key code free state filing You sell them at a fixed price. H&r block key code free state filing Your earnings are based on the difference between the sales price and your cost of goods sold. H&r block key code free state filing   This rule applies whether or not you are guaranteed a minimum amount of earnings. H&r block key code free state filing It also applies whether or not you receive credit for unsold newspapers or magazines you return to your supplier. H&r block key code free state filing Notary public. H&r block key code free state filing   Fees you receive for services you perform as a notary public are reported on Schedule C or C-EZ. H&r block key code free state filing These payments are not subject to self-employment tax (see the instructions for Schedule SE (Form 1040)). H&r block key code free state filing Public official. H&r block key code free state filing   Public officials generally do not report what they earn for serving in public office on Schedule C or C-EZ. H&r block key code free state filing This rule applies to payments received by an elected tax collector from state funds on the basis of a fixed percentage of the taxes collected. H&r block key code free state filing Public office includes any elective or appointive office of the United States or its possessions, the District of Columbia, a state or its political subdivisions, or a wholly owned instrumentality of any of these. H&r block key code free state filing   Public officials of state or local governments report their fees on Schedule C or C-EZ if they are paid solely on a fee basis and if their services are eligible for, but not covered by, social security under a federal-state agreement. H&r block key code free state filing Real estate agent or direct seller. H&r block key code free state filing   If you are a licensed real estate agent or a direct seller, your earnings are reported on Schedule C or C-EZ if both the following apply. H&r block key code free state filing Substantially all your pay for services as a real estate agent or direct seller directly relates to your sales or other output rather than to the number of hours you work. H&r block key code free state filing You perform the services under a written contract that says you will not be treated as an employee for federal tax purposes. H&r block key code free state filing Securities dealer. H&r block key code free state filing   If you are a dealer in options or commodities, your gains and losses from dealing or trading in section 1256 contracts (regulated futures contracts, foreign currency contracts, nonequity options, dealer equity options, and dealer securities futures contracts) or property related to those contracts (such as stock used to hedge options) are reported on Schedule C or C-EZ. H&r block key code free state filing For more information, see sections 1256 and 1402(i). H&r block key code free state filing Securities trader. H&r block key code free state filing   You are a trader in securities if you are engaged in the business of buying and selling securities for your own account. H&r block key code free state filing As a trader in securities, your gain or loss from the disposition of securities is not reported on Schedule C or C-EZ. H&r block key code free state filing However, see Securities dealer , earlier, for an exception that applies to section 1256 contracts. H&r block key code free state filing For more information about securities traders, see Publication 550, Investment Income and Expenses. H&r block key code free state filing Accounting for Your Income Accounting for your income for income tax purposes differs at times from accounting for financial purposes. H&r block key code free state filing This section discusses some of the more common differences that may affect business transactions. H&r block key code free state filing Figure your business income on the basis of a tax year and according to your regular method of accounting (see chapter 2). H&r block key code free state filing If the sale of a product is an income-producing factor in your business, you usually have to use inventories to clearly show your income. H&r block key code free state filing Dealers in real estate are not allowed to use inventories. H&r block key code free state filing For more information on inventories, see chapter 2. H&r block key code free state filing Income paid to a third party. H&r block key code free state filing   All income you earn is taxable to you. H&r block key code free state filing You cannot avoid tax by having the income paid to a third party. H&r block key code free state filing Example. H&r block key code free state filing You rent out your property and the rental agreement directs the lessee to pay the rent to your son. H&r block key code free state filing The amount paid to your son is gross income to you. H&r block key code free state filing Cash discounts. H&r block key code free state filing   These are amounts the seller permits you to deduct from the invoice price for prompt payment. H&r block key code free state filing For income tax purposes, you can use either of the following two methods to account for cash discounts. H&r block key code free state filing Deduct the cash discount from purchases (see Line 36, Purchases Less Cost of Items Withdrawn for Personal Use in chapter 6). H&r block key code free state filing Credit the cash discount to a discount income account. H&r block key code free state filing You must use the chosen method every year for all your purchase discounts. H&r block key code free state filing   If you use the second method, the credit balance in the account at the end of your tax year is business income. H&r block key code free state filing Under this method, you do not reduce the cost of goods sold by the cash discounts you received. H&r block key code free state filing When valuing your closing inventory, you cannot reduce the invoice price of merchandise on hand at the close of the tax year by the average or estimated discounts received on the merchandise. H&r block key code free state filing Trade discounts. H&r block key code free state filing   These are reductions from list or catalog prices and usually are not written into the invoice or charged to the customer. H&r block key code free state filing Do not enter these discounts on your books of account. H&r block key code free state filing Instead, use only the net amount as the cost of the merchandise purchased. H&r block key code free state filing For more information, see Trade discounts in chapter 6. H&r block key code free state filing Payment placed in escrow. H&r block key code free state filing   If the buyer of your property places part or all of the purchase price in escrow, you do not include any part of it in gross sales until you actually or constructively receive it. H&r block key code free state filing However, upon completion of the terms of the contract and the escrow agreement, you will have taxable income, even if you do not accept the money until the next year. H&r block key code free state filing Sales returns and allowances. H&r block key code free state filing   Credits you allow customers for returned merchandise and any other allowances you make on sales are deductions from gross sales in figuring net sales. H&r block key code free state filing Advance payments. H&r block key code free state filing   Special rules dealing with an accrual method of accounting for payments received in advance are discussed in chapter 2 under Accrual Method. H&r block key code free state filing Insurance proceeds. H&r block key code free state filing   If you receive insurance or another type of reimbursement for a casualty or theft loss, you must subtract it from the loss when you figure your deduction. H&r block key code free state filing You cannot deduct the reimbursed part of a casualty or theft loss. H&r block key code free state filing   For information on casualty or theft losses, see Publication 547, Casualties, Disasters, and Thefts. H&r block key code free state filing Prev  Up  Next   Home   More Online Publications
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The H&r Block Key Code Free State Filing

H&r block key code free state filing 35. H&r block key code free state filing   Créditos Tributarios por Estudios Table of Contents Introduction Useful Items - You may want to see: ¿Quién Puede Reclamar un Crédito Tributario por Estudios? Gastos de Estudios CalificadosNo se Permite Beneficio Doble Ajustes a los Gastos de Estudios Calificados Introduction Para 2013, hay dos créditos tributarios para personas que paguen gastos de enseñanza superior (postsecundaria). H&r block key code free state filing Éstos son: El crédito tributario de oportunidad para los estadounidenses y El crédito vitalicio por aprendizaje. H&r block key code free state filing Este capítulo explica en términos generales estos créditos tributarios por estudios. H&r block key code free state filing Para obtener la información detallada que necesitará para reclamar cualquiera de los créditos, y para ver ejemplos aclaratorios, consulte los capítulos 2 y 3 de la Publicación 970, Tax Benefits for Education (Beneficios tributarios por estudios), en inglés. H&r block key code free state filing ¿Puede reclamar más de un crédito por estudios este año?   Puede escoger sólo uno de los créditos por cada estudiante por cada año. H&r block key code free state filing Por ejemplo, si reclama el crédito tributario de oportunidad para los estadounidenses por un hijo en su declaración de impuestos de 2013, no puede tomar el crédito vitalicio por aprendizaje para 2013 si se trata del mismo hijo. H&r block key code free state filing   Si reúne los requisitos del crédito tributario de oportunidad para los estadounidenses y también del crédito vitalicio por aprendizaje por el mismo estudiante durante el mismo año, puede reclamar sólo uno de los dos créditos, pero no ambos. H&r block key code free state filing   Si paga gastos de estudios calificados por más de un estudiante durante el mismo año, puede reclamar el crédito tributario de oportunidad para los estadounidenses y el crédito vitalicio por aprendizaje basado por cada estudiante y por año. H&r block key code free state filing Esto quiere decir que, por ejemplo, puede reclamar el crédito tributario de oportunidad para los estadounidenses por un estudiante y el crédito vitalicio por aprendizaje por otro estudiante en el mismo año. H&r block key code free state filing    Tabla 35-1. H&r block key code free state filing Comparación de los Créditos Tributarios por Estudios Precaución: Puede reclamar el crédito tributario de oportunidad para los estadounidenses y el crédito vitalicio por aprendizaje en la misma declaración —pero no por el mismo estudiante. H&r block key code free state filing   Crédito tributario de oportunidad para los estadounidenses Crédito vitalicio por aprendizaje Crédito máximo Un crédito de hasta $2,500 por cada estudiante que reúne los requisitos Un crédito de hasta $2,000 por cada declaración Límite a los ingresos brutos ajustados modificados (MAGI, por sus siglas en inglés) $180,000 si es casado que presenta una declaración conjunta;  $90,000 si es soltero, cabeza de familia o viudo que reúne los requisitos $127,000 si es casado que presenta una declaración conjunta;  $63,000 si es soltero, cabeza de familia o viudo que reúne los requisitos Reembolsable o no reembolsable El 40% del crédito podría ser reembolsable El monto del crédito está limitado al monto de impuestos que tiene que pagar sobre sus ingresos sujetos a impuestos Número de años de enseñanza postsecundaria Disponible SÓLO si el estudiante no ha completado los 4 primeros años de enseñanza postsecundaria antes de 2013 Disponible para todo año de enseñanza postsecundaria y cursos para adquirir o mejorar aptitudes en el trabajo Número de años tributarios por los cuales se ofrece el crédito Disponible SÓLO por 4 años por cada estudiante que reúna los requisitos (incluido todo año en el que se haya reclamado el crédito Hope) Disponible por un número ilimitado de años Tipo de programa académico requerido El estudiante tiene que estar cursando un programa de estudios con miras a sacar una licenciatura u otro título o certificado académico acreditado El estudiante no necesita estar cursando un programa de estudios con miras a sacar una licenciatura u otro título o certificado académico acreditado Número de cursos El estudiante tiene que estar matriculado a medio tiempo como mínimo durante al menos un período académico que haya comenzado en el transcurso del año tributario Disponible para uno o más cursos Fallo condenatorio por delito grave de drogas Si para el fin de 2013 no consta fallo condenatorio alguno al estudiante por delito grave de poseer o distribuir drogas Fallos condenatorios por delito grave de drogas no hacen que el estudiante no reúna los requisitos Gastos que reúnen los requisitos Costos de matrícula y gastos de inscripción obligatorios y todos los materiales relacionados con un curso que necesita el estudiante, tanto si son comprados o no en la institución como condición de inscripción o asistencia Costos de matrícula y gastos de inscripción obligatorios (incluidas cantidades que tienen que pagarse a la institución por textos, materiales y equipo relacionados con un curso) Pagos por períodos académicos Pagos efectuados en 2013 para períodos académicos que se iniciaron en 2013 y en los tres primeros meses de 2014 Diferencias entre el crédito tributario de oportunidad para los estadounidenses y el crédito vitalicio por aprendizaje. H&r block key code free state filing   Existen varias diferencias entre estos dos créditos. H&r block key code free state filing Estas diferencias se resumen en la Tabla 35-1, más adelante. H&r block key code free state filing Useful Items - You may want to see: Publicación 970 Tax Benefits for Education (Beneficios tributarios por estudios), en inglés Formulario (e Instrucciones) 8863 Education Credits (American Opportunity and Lifetime Learning Credits) (Créditos tributarios por estudios (crédito tributario de oportunidad para los estadounidenses y crédito vitalicio por aprendizaje)), en inglés ¿Quién Puede Reclamar un Crédito Tributario por Estudios? Tal vez pueda reclamar un crédito tributario por estudios si usted, su cónyuge o un dependiente reclamado en su declaración de impuestos era estudiante matriculado en, o asistió a, una institución de enseñanza superior que reúne los requisitos. H&r block key code free state filing Los créditos se basan en la cantidad de gastos de estudios calificados que hayan sido pagados a nombre del estudiante en 2013 por períodos académicos que comenzaron en 2013 y en los primeros tres meses de 2014. H&r block key code free state filing Por ejemplo, si pagó $1,500 en diciembre de 2013 por una matrícula calificada por el semestre de primavera de 2014 que comience en enero de 2014, tal vez pueda usar los $1,500 en el cálculo del (de los) crédito(s) para 2013. H&r block key code free state filing Período académico. H&r block key code free state filing   Un período académico abarca un semestre, trimestre, cuatrimestre u otro período de estudios (como un curso de escuela de verano) según lo determine de manera razonable una institución de enseñanza superior. H&r block key code free state 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 período académico. H&r block key code free state filing Institución de enseñanza superior que reúne los requisitos. H&r block key code free state filing   Una “institución de enseñanza superior que reúne los requisitos” es todo 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. H&r block key code free state filing Esta clase de institución abarca prácticamente todas las instituciones acreditadas de enseñanza superior públicas, sin fines de lucro y las privadas con fines de lucro. H&r block key code free state filing La institución de enseñanza superior debe poder indicarle si reúne los requisitos. H&r block key code free state filing   Determinadas instituciones de enseñanza superior ubicadas en el extranjero participan también en los programas de Federal Student Aid (Asistencia Financiera al Estudiante o FSA, por sus siglas en inglés) del Departamento de Educación de los Estados Unidos. H&r block key code free state filing ¿Quién puede reclamar los gastos de un dependiente?   Si una persona reclama al estudiante como dependiente y se permite una deducción por aquel estudiante en la declaración de dicha persona, se considera que esa persona ha pagado todos los gastos de estudios calificados del estudiante. H&r block key code free state filing Por lo tanto, sólo esa persona puede reclamar un crédito por estudios en nombre del estudiante. H&r block key code free state filing Si un estudiante no es reclamado como dependiente en la declaración de impuestos de otra persona, sólo el estudiante puede reclamar un crédito. H&r block key code free state filing Gastos pagados por un tercero. H&r block key code free state filing   Los gastos de estudios calificados pagados en nombre del estudiante por una persona que no sea el estudiante (como un pariente) se tratan como si hubiesen sido pagados por dicho estudiante. H&r block key code free state filing Sin embargo, los gastos de estudios calificados pagados (o que se tratan como si hubiesen sido pagados) por un estudiante que es reclamado como dependiente en su declaración de impuestos, se tratan como si hubiesen sido pagados por usted. H&r block key code free state filing Por lo tanto, a usted se le trata como si hubiese pagado los gastos que fueron pagados por el tercero. H&r block key code free state filing Para más información y para ver un ejemplo, vea Who can Claim a Dependent's Expenses (¿Quién puede reclamar los gastos de un dependiente?) en el capítulo 2 ó 3 de la Publicación 970, en inglés. H&r block key code free state filing ¿Quién no puede reclamar el crédito?   No puede tomar un crédito tributario por estudios si alguna de las siguientes situaciones le corresponde: Usted es reclamado como dependiente en la declaración de impuestos de otra persona, como la de sus padres. H&r block key code free state filing Su estado civil para efectos de la declaración es casado que presenta una declaración por separado. H&r block key code free state filing Usted (o su cónyuge) fue extranjero no residente durante cualquier parte de 2013 y no optó por ser tratado como extranjero residente para fines tributarios. H&r block key code free state filing Sus ingresos brutos ajustados modificados (MAGI, por sus siglas en inglés) es uno de los siguientes: Crédito tributario de oportunidad para los estadounidenses: $180,000 o más si es casado que presenta la declaración conjunta, o $90,000 o más si es soltero, cabeza de familia o viudo que reúne los requisitos. H&r block key code free state filing Crédito vitalicio por aprendizaje: $127,000 o más si es casado que presenta la declaración conjunta, o $63,000 o más si es soltero, cabeza de familia o viudo que reúne los requisitos. H&r block key code free state filing   Por lo general, su MAGI es la cantidad de la línea 38 de su Formulario 1040 o la línea 22 del Formulario 1040A. H&r block key code free state filing No obstante, si presenta el Formulario 2555, 2555-EZ o 4563 o si excluye ingresos de fuentes dentro de Puerto Rico, sume la cantidad excluida del ingreso a la cantidad en la línea 38 de su Formulario 1040 o de la línea 22 del Formulario 1040A. H&r block key code free state filing Para más detalles, vea la Publicación 970, en inglés. H&r block key code free state filing   La Figura 35-A podría ser útil al momento de determinar si puede reclamar un crédito tributario por estudios en su declaración de impuestos. H&r block key code free state filing    El crédito tributario de oportunidad para los estadounidenses siempre será mayor que o igual al crédito vitalicio por aprendizaje para todo estudiante que reúna los requisitos para ambos créditos. H&r block key code free state filing Sin embargo, si no se cumplen todos los requisitos correspondientes al crédito tributario de oportunidad para los estadounidenses enumerados anteriormente en la Tabla 35-1, usted no puede reclamar dicho crédito en base de este estudiante. H&r block key code free state filing En lugar de ello, quizás podría reclamar el crédito vitalicio por aprendizaje por una parte o la totalidad de los gastos de estudios calificados de dicho estudiante. H&r block key code free state filing Para obtener información sobre otros beneficios relacionados con los estudios, vea la Publicación 970, en inglés. H&r block key code free state filing Gastos de Estudios Calificados Generalmente, se considera que los gastos de estudios calificados son cantidades pagadas en 2013 por matrícula y gastos escolares obligatorios para matricularse en un curso o asistir al mismo en una institución de enseñanza superior. H&r block key code free state filing No importa si los gastos fueron pagados en efectivo, por cheque, con tarjeta de crédito o débito, o con préstamos. H&r block key code free state filing Sólo reúnen los requisitos ciertos gastos por libros, materiales y equipos relacionados con un curso: Crédito tributario de oportunidad para los estadounidenses: Los gastos de estudios calificados abarcan cantidades gastadas en libros, materiales y equipos necesarios para cursos de un programa de estudios, ya sea o no que se compren estos materiales en la institución de enseñanza como condición para matricularse o asistir a tales cursos. H&r block key code free state filing Crédito vitalicio por aprendizaje: Los gastos de estudios calificados abarcan cantidades gastadas en libros, materiales y equipos sólo si se tienen que pagar a la institución como condición para matricularse o asistir a cursos. H&r block key code free state filing Los gastos de estudios calificados incluyen cuotas no académicas, tales como cuotas por actividades estudiantiles, cuotas por actividades deportivas u otros gastos no relacionados con el curso de instrucción, sólo si la cuota tiene que pagarse a la institución como condición de inscripción o asistencia. H&r block key code free state filing Sin embargo, las cuotas por gastos personales (descritos a continuación) nunca se consideran gastos de estudios calificados. H&r block key code free state filing Los gastos de estudios calificados no incluyen cantidades pagadas por: Gastos personales. H&r block key code free state filing Éstos incluyen gastos de alojamiento y comida, seguros, gastos médicos (incluyendo las cuotas de servicios de salud para estudiantes), transporte y otros gastos personales similares o de familia. H&r block key code free state filing Todo curso u otros estudios que se relacionen con deportes, juegos o pasatiempos o todo curso sin crédito académico, a menos que dicho curso o dichos estudios formen parte del programa de estudios para obtener un título del estudiante o (sólo en el caso del crédito vitalicio por aprendizaje) ayude al estudiante a adquirir o mejorar aptitudes en el trabajo. H&r block key code free state filing Usted debe recibir el Formulario 1098-T, Tuition Statement (Información sobre el pago de matrícula), en inglés, de la institución que informa cualesquiera de los pagos recibidos en 2013 (encasillado 1) o las cantidades facturadas en 2013 (encasillado 2). H&r block key code free state filing Sin embargo, la cantidad pagada (o tratada como pagada) puede ser distinta a la cantidad en el encasillado 1 ó 2 del Formulario 1098-T. H&r block key code free state filing Al completar el Formulario 8863, en inglés, utilice sólo las cantidades que realmente pagó (además de cualquier otra cantidad tratada como pagada) en 2013, reducida cuando sea necesario, como se describe en Ajustes a los Gastos de Estudios Calificados , más adelante. H&r block key code free state filing Los gastos de estudios calificados pagados en nombre del estudiante por una persona que no sea el estudiante (como un pariente) se tratan como si hubiesen sido pagados por dicho estudiante. H&r block key code free state filing Los gastos de estudios calificados pagados (o que se tratan como si hubiesen sido pagados) por un estudiante que es reclamado como dependiente en su declaración de impuestos se tratan como si hubiesen sido pagados por usted. H&r block key code free state filing Al calcular los créditos tributarios por estudios, si usted o el estudiante toman una deducción por gastos de enseñanza superior, tal como en el Anexo A o C (Formulario 1040), no pueden utilizar esos gastos como gastos de estudios calificados. H&r block key code free state filing Los gastos de estudios calificados para cualquier período académico tienen que ser reducidos por toda ayuda económica de estudios exenta de los impuestos asignable a dicho período académico. H&r block key code free state filing Vea Ajustes a los Gastos de Estudios Calificados , más adelante. H&r block key code free state filing Gastos pagados por adelantado. H&r block key code free state filing   Los gastos de estudios calificados pagados en 2013 para un período académico que comienza en los primeros tres meses de 2014 se pueden utilizar sólo en el cálculo del crédito por estudios de 2013. H&r block key code free state filing Vea Período académico , anteriormente. H&r block key code free state 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 del crédito por estudios sólo para 2013 (si reúne todos los otros requisitos). H&r block key code free state filing No puede utilizar cantidad alguna que haya pagado en 2012 ó 2014 para calcular su(s) crédito(s) tributario(s) por estudios de 2013. H&r block key code free state filing Gastos pagados con un préstamo. H&r block key code free state filing   Puede reclamar un crédito por estudios en el caso de gastos de estudios calificados que haya pagado con un préstamo. H&r block key code free state filing Utilice los gastos para calcular el crédito tributario por estudios correspondiente al año en que se paguen los gastos y no al año en el que se pague el préstamo. H&r block key code free state filing Trate los pagos del préstamo enviados directamente a la institución de enseñanza superior como si se hubiesen pagado en la fecha en que dicha institución abone los pagos a la cuenta del estudiante. H&r block key code free state filing Si el estudiante se retira de uno o más cursos. H&r block key code free state filing   Puede reclamar un crédito tributario por estudios en el caso de gastos de estudios calificados que no se le devuelvan al estudiante si el estudiante se retira de uno o más cursos. H&r block key code free state filing No se Permite Beneficio Doble No se permite hacer lo siguiente: Deducir gastos de enseñanza superior en su declaración de impuestos sobre los ingresos (por ejemplo, un gasto de negocio) y reclamar también un crédito por estudios basándose en dichos gastos. H&r block key code free state filing Reclamar más de un (1) crédito tributario por estudios basándose en los mismos gastos de estudios calificados. H&r block key code free state filing Reclamar un crédito por estudios basándose en los mismos gastos utilizados para calcular la parte exenta del impuesto de distribuciones de una cuenta de ahorros para estudios Coverdell (Coverdell ESA, por su abreviatura en inglés) o un programa de matrícula calificada (QTP, por sus siglas en inglés). H&r block key code free state filing Reclamar un crédito basándose en gastos de estudios calificados que hayan sido pagados con ayuda para estudios, tal como una beca o subvención o ayuda provista por el empleador, libres de impuestos. H&r block key code free state filing Vea Ajustes a los Gastos de Estudios Calificados, a continuación. H&r block key code free state filing Ajustes a los Gastos de Estudios Calificados Para cada estudiante, se tiene que restar los gastos de estudios calificados, pagados en 2013, por o en nombre de dicho estudiante bajo las siguientes reglas. H&r block key code free state filing El resultado es la cantidad ajustada en gastos de estudios calificados por cada estudiante. H&r block key code free state filing Ayuda económica para estudios exenta de impuestos. H&r block key code free state filing   Si en 2013 recibió ayuda económica para estudios que está exenta de impuestos, reste la cantidad de la ayuda económica para estudios exenta de impuestos asignable para cada período académico de la cantidad de gastos de estudios calificados para cada período académico. H&r block key code free state filing Vea Período académico , anteriormente. H&r block key code free state filing   La ayuda económica para estudios exenta de impuestos incluye: Partes no sujetas a impuestos de becas de estudios y becas de investigación (vea el capítulo 12 de esta publicación y el capítulo 1 de la Publicación 970, en inglés), La parte no sujeta a impuestos de subvenciones federales Pell (vea el capítulo 1 de la Publicación 970, en inglés), La parte no sujeta a impuestos de ayuda económica para estudios provista por el empleador (vea la Publicación 970, en inglés), Ayuda económica para estudios para veteranos (vea el capítulo 1 de la Publicación 970, en inglés) y Cualquier otro pago no sujeto a impuestos (libre de impuestos) (que no sean regalos ni herencias) recibido como ayuda económica para estudios. H&r block key code free state filing   Por lo general, toda beca de estudios o de investigación es tratada como una ayuda económica para estudios exenta de impuestos. H&r block key code free state filing Sin embargo, una beca de estudios o de investigación no será tratada como dicha ayuda al punto de que el estudiante la incluye como ingreso bruto (si el estudiante tiene que presentar una declaración de impuestos) para el año en que reciba la beca de estudios o de investigación y le corresponde uno de los siguientes: La beca de estudios o de investigación (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 estudios calificados), de la Publicación 970, en inglés, o La beca de estudios o de investigación (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. H&r block key code free state filing Podría aumentar el valor combinado del crédito tributario por estudios y cierta ayuda económica para estudios si el estudiante incluye alguna o toda ayuda económica para estudios del ingreso en el año en que recibió dicha ayuda. H&r block key code free state filing Para detalles, vea Adjustments of Qualified Education Expenses (Ajustes a los gastos de estudios calificados) en los capítulos 2 y 3 de la Publicación 970, en inglés. H&r block key code free state filing Cierta ayuda económica para estudios exenta de impuestos recibida después de 2013 podría ser tratada como un reembolso de gastos de estudios calificados que se pagaron en 2013. H&r block key code free state filing Esta ayuda económica para estudios exenta de impuestos es toda ayuda económica para estudios exenta de impuestos que usted o cualquier otro ha recibido después de 2013 por gastos de estudios calificados pagados en nombre de un estudiante en 2013 (o atribuible a la matrícula de una institución de enseñanza superior que reúne los requisitos durante 2013). H&r block key code free state filing Si dicha ayuda económica para estudios exenta de impuestos se recibe después de 2013 pero antes de que presente 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. H&r block key code free state filing Si dicha ayuda económica para estudios exenta de impuestos se recibe después de 2013 y después que presenta su declaración de impuestos sobre los ingresos para 2013, vea Reembolsos recibidos después de 2013 y después que presenta su declaración de impuestos sobre los ingresos, más adelante. H&r block key code free state filing Reembolsos. H&r block key code free state filing   Un reembolso de gastos de estudios calificados puede reducir gastos de estudios calificados por el año tributable o puede requerir que recupere (reintegre) el crédito tributario por estudios que reclamó en un año anterior. H&r block key code free state filing Cierta ayuda económica para estudios exenta de impuestos recibida después de 2013 puede ser tratada como un reembolso. H&r block key code free state filing Vea Ayuda económica para estudios exenta de impuestos, anteriormente. H&r block key code free state filing Reembolsos recibidos en 2013. H&r block key code free state filing   Por cada estudiante, calcule los gastos de estudios calificados ajustados de 2013 sumando todos los gastos de estudios calificados pagados en 2013 y reste todos los reembolsos de esos gastos recibidos de la institución de enseñanza superior que reúne los requisitos durante 2013. H&r block key code free state filing Reembolsos recibidos después de 2013 pero antes de presentar su declaración de impuestos sobre los ingresos. H&r block key code free state filing   Si alguien recibe un reembolso después de 2013 por gastos de estudios calificados pagado en nombre de un estudiante en 2013 y el reembolso es recibido antes de que presente su declaración de impuestos sobre los ingresos de 2013, reste la cantidad de gastos de estudios calificados de 2013 por la cantidad del reembolso. H&r block key code free state filing Reembolsos recibidos después de 2013 y después de presentar su declaración de impuestos sobre los ingresos. H&r block key code free state 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 después de presentar su declaración de impuestos sobre los ingresos de 2013, podría verse obligado a reintegrar parte o todo el crédito tributario por estudios que reclamó. H&r block key code free state filing Vea Recuperar (reintegrar) el crédito, a continuación. H&r block key code free state filing Recuperar (reintegrar) el crédito. H&r block key code free state filing   Si después de haber presentado su declaración de impuestos sobre los ingresos de 2013, recibe alguna ayuda económica para estudios exenta de impuestos o cualquier reembolso correspondiente a gastos de estudios calificados que haya pagado en 2013, tiene que recuperar (reintegrar) todo crédito en exceso. H&r block key code free state filing Cuando se vuelve a calcular la cantidad de gastos de estudios calificados ajustados de 2013, reste de dichos gastos la cantidad de la ayuda económica para estudios exenta de impuestos o el (los) reembolso(s) que haya recibido. H&r block key code free state filing Entonces se calcula nuevamente su(s) crédito(s) tributario(s) por estudios de 2013 y se calcula la cantidad por la cual su impuesto adeudado de 2013 hubiera aumentado si hubiese reclamado dicho(s) crédito(s) nuevamente calculado(s). H&r block key code free state filing Incluya esa cantidad como un impuesto adicional para el año en que la ayuda económica o el reembolso fueron recibidos. H&r block key code free state filing Ejemplo. H&r block key code free state filing   Usted pagó $8,000 por matrícula y gastos escolares de su hijo en diciembre de 2013 por el semestre de primavera que comienza en enero de 2014. H&r block key code free state filing Usted presentó su declaración de impuestos de 2013 el 3 de febrero de 2014 y reclamó un crédito vitalicio por aprendizaje de $1,600 ($8,000 de gastos de estudios calificados multiplicado por 0. H&r block key code free state filing 20). H&r block key code free state filing Usted no reclamó otros créditos tributarios. H&r block key code free state filing Después de haber presentado su declaración, su hijo se retiró de dos cursos y usted recibió un reembolso de $1,400. H&r block key code free state filing Tiene que volver a calcular su crédito vitalicio por aprendizaje de 2013 usando $6,600 ($1,400 del reembolso que se resta de los gastos de estudios calificados de $8,000). H&r block key code free state filing El crédito nuevamente calculado es $1,320 y su impuesto adeudado aumentó por $280. H&r block key code free state filing Tiene que incluir el resultado de $280 (lo que queda después de que haya restado $1,320 (el crédito nuevamente calculado) de $1,600 (el crédito que había reclamado originalmente)) como un impuesto adicional en su declaración de impuestos sobre los ingresos de 2014. H&r block key code free state filing Para determinar en dónde incluir dicho impuesto adicional, vea las instrucciones de su declaración de impuestos sobre los ingresos de 2014. H&r block key code free state filing    Si también paga gastos de estudios calificados en 2014 para un período académico que comienza en los primeros tres meses de 2014 y recibe ayuda económica para estudios exenta de impuestos o un reembolso como se explicó anteriormente, usted puede escoger reducir sus gastos de estudios calificados para el 2014 en vez de reducir sus gastos para 2013. H&r block key code free state filing Cantidades que no reducen los gastos de estudios calificados. H&r block key code free state filing   No reste de los gastos de estudios calificados las cantidades pagadas con fondos que el estudiante reciba como: Pagos por servicios, como salarios; Un préstamo; Un regalo; Una herencia o Un retiro de la cuenta de ahorros personal del estudiante. H&r block key code free state filing   No reste de los gastos de estudios calificados ninguna beca de estudios o beca de investigación reclamada como ingresos en la declaración de ingresos del estudiante en las siguientes situaciones: El uso del dinero está limitado, por los términos de la beca de estudios o de investigación, a los costos de asistencia (como alojamiento y comida) que no sean gastos de estudios calificados, como se definen en el capítulo 1 de la Publicación 970, en inglés. H&r block key code free state filing El uso del dinero no está limitado. H&r block key code free state filing   Para ver ejemplos, consulte el capítulo 2 de la Publicación 970, en inglés. H&r block key code free state filing Please click here for the text description of the image. H&r block key code free state filing Figura 35-A ¿Puede usted reclamar el crédito por Estudios para 2013? Prev  Up  Next   Home   More Online Publications