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How To File 2012 Tax Return Late

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How To File 2012 Tax Return Late

How to file 2012 tax return late 23. How to file 2012 tax return late   Gastos de Intereses Table of Contents Introduction Useful Items - You may want to see: Intereses Hipotecarios de ViviendaCantidad Deducible Puntos Primas de Seguro Hipotecario Formulario 1098, Estado de Cuenta de los Intereses Hipotecarios Intereses Procedentes de InversionesBienes de Inversión Asignación de Gastos de Intereses Límite sobre la Deducción Cantidades que No Puede DeducirIntereses Personales Asignación de Intereses Cómo Hacer la DeclaraciónMás de un prestatario. How to file 2012 tax return late Fondos procedentes de una hipoteca utilizados para negocios o inversiones. How to file 2012 tax return late Introduction Este capítulo trata sobre los intereses que usted puede deducir. How to file 2012 tax return late Los intereses son la cantidad que paga por usar dinero prestado. How to file 2012 tax return late Los siguientes son tipos de intereses que se pueden deducir como deducciones detalladas en el Anexo A (Formulario 1040), Itemized Deductions (Deducciones detalladas), en inglés: Los intereses hipotecarios de vivienda, incluidos ciertos puntos y primas de seguro hipotecario. How to file 2012 tax return late Intereses procedentes de inversiones. How to file 2012 tax return late Este capítulo explica estas deducciones. How to file 2012 tax return late Asimismo, explica dónde deducir otros tipos de intereses y enumera algunos tipos de intereses que no puede deducir. How to file 2012 tax return late Use la Tabla 23-1 para averiguar dónde obtener más información sobre varios tipos de intereses, incluidos los intereses de inversiones. How to file 2012 tax return late Useful Items - You may want to see: Publicación 936 Home Mortgage Interest Deduction (Deducción por intereses hipotecarios de vivienda), en inglés. How to file 2012 tax return late 550 Investment Income and Expenses (Ingresos y gastos de inversiones), en inglés. How to file 2012 tax return late Intereses Hipotecarios de Vivienda Por lo general, los intereses hipotecarios de vivienda son todos los intereses que paga sobre un préstamo garantizado por su vivienda (vivienda principal o segunda vivienda). How to file 2012 tax return late El préstamo puede ser una hipoteca para la compra de su vivienda, una segunda hipoteca, una línea de crédito o un préstamo sobre el valor neto de la vivienda. How to file 2012 tax return late Puede deducir los intereses hipotecarios de vivienda si se reúnen todas las siguientes condiciones: Presenta el Formulario 1040 y detalla deducciones en el Anexo A (Formulario 1040). How to file 2012 tax return late La hipoteca es una deuda garantizada sobre una vivienda calificada en la cual tiene participación como dueño de la misma. How to file 2012 tax return late (Por lo general, una hipoteca es una deuda garantizada si pone como garantía su vivienda para proteger los intereses del prestamista. How to file 2012 tax return late El término “vivienda calificada” quiere decir su vivienda principal o segunda vivienda. How to file 2012 tax return late Para más información, vea la Publicación 936, Home Mortgage Interest Deduction (Deducción por intereses hipotecarios de vivienda), en inglés). How to file 2012 tax return late  Tanto usted como el prestamista tienen que tener la intención de que se pague el préstamo. How to file 2012 tax return late Cantidad Deducible En la mayor parte de los casos, podrá deducir todos los intereses hipotecarios de vivienda. How to file 2012 tax return late Cuánto puede deducir depende de la fecha en que obtuvo la hipoteca, la cantidad de la hipoteca y cómo usted usa los fondos procedentes de la misma. How to file 2012 tax return late Intereses totalmente deducibles. How to file 2012 tax return late   Si todas sus hipotecas corresponden a una o más de las tres categorías siguientes en todo momento durante el año, puede deducir todos los intereses sobre dichas hipotecas. How to file 2012 tax return late (Si una hipoteca corresponde a más de una categoría, sume la deuda que corresponde a cada categoría a la otra deuda de la misma categoría). How to file 2012 tax return late   Las tres categorías son: Las hipotecas que obtuvo a más tardar el 13 de octubre de 1987 (denominadas deudas con refugio legal). How to file 2012 tax return late Las hipotecas que obtuvo después del 13 de octubre de 1987 para comprar, construir o mejorar su vivienda (denominadas deudas por adquisición de vivienda), pero únicamente si a lo largo del año 2013 dichas hipotecas, más toda deuda contraída el 13 de octubre de 1987 o antes, ascendieron a $1 millón o menos ($500,000 o menos si es casado que presenta la declaración por separado). How to file 2012 tax return late Las hipotecas que obtuvo después del 13 de octubre de 1987 que no fueran para comprar, construir o mejorar su vivienda (denominadas deudas sobre el valor neto de la vivienda), pero únicamente si a lo largo del año 2013 dichas hipotecas ascendieron a $100,000 o menos ($50,000 o menos si es casado que presenta la declaración por separado) y cuyo total no era mayor que el valor justo de mercado de su vivienda reducido por los puntos (1) y (2). How to file 2012 tax return late Los límites en dólares para la segunda y tercera categoría son aplicables a la suma de las hipotecas sobre su vivienda principal y segunda vivienda. How to file 2012 tax return late   Vea la Parte II de la Publicación 936, en inglés, para definiciones más amplias de la deuda con refugio legal, deuda por adquisición de vivienda y deuda sobre el valor neto de la vivienda. How to file 2012 tax return late   Puede usar la Figura 23-A para verificar si los intereses hipotecarios de vivienda son totalmente deducibles. How to file 2012 tax return late Figura 23-A. How to file 2012 tax return late ¿Son Totalmente Deducibles los Intereses Hipotecarios de mi Vivienda? Instrucciones: Incluya los saldos de TODAS las hipotecas garantizadas por su vivienda principal y segunda vivienda. How to file 2012 tax return late Please click here for the text description of the image. How to file 2012 tax return late Figura 23−A. How to file 2012 tax return late ¿Son Totalmente Deducibles los Intereses Hipotecarios de mi Vivienda? Límites sobre la deducción. How to file 2012 tax return late   No puede deducir totalmente los intereses de una hipoteca que no corresponda a alguna de las tres categorías indicadas anteriormente. How to file 2012 tax return late Si éste es su caso, vea la Parte II de la Publicación 936, en inglés, para calcular la cantidad de los intereses que puede deducir. How to file 2012 tax return late Situaciones Especiales Esta sección describe ciertos elementos que se pueden incluir como intereses hipotecarios de vivienda y otros que no. How to file 2012 tax return late Además, describe ciertas situaciones especiales que podrían afectar su deducción. How to file 2012 tax return late Recargos por pagos hipotecarios tardíos. How to file 2012 tax return late   Puede deducir como intereses hipotecarios de vivienda un recargo por pagos tardíos si no fue por un servicio específico que se prestó en relación a su préstamo hipotecario. How to file 2012 tax return late Multa por pago adelantado de la hipoteca. How to file 2012 tax return late   Si salda su hipoteca de vivienda por adelantado, podría verse obligado a pagar una multa. How to file 2012 tax return late Puede deducir dicha multa como intereses hipotecarios de vivienda con tal de que la multa no sea por un servicio específico que se prestó, o costo en el que se incurrió, con respecto a su préstamo hipotecario. How to file 2012 tax return late Venta de vivienda. How to file 2012 tax return late   Si vende su vivienda, puede deducir los intereses hipotecarios de vivienda (sujetos a los límites correspondientes) pagados hasta la fecha de venta, excluyendo tal fecha. How to file 2012 tax return late Ejemplo. How to file 2012 tax return late Juan y Margarita Gallegos vendieron su vivienda el 7 de mayo. How to file 2012 tax return late Hasta el 30 de abril, hicieron pagos de intereses hipotecarios de vivienda de $1,220. How to file 2012 tax return late El informe de cierre de la venta de la vivienda mostraba intereses de $50 para el período de 6 días en el mes de mayo hasta la fecha de venta, excluyendo tal fecha. How to file 2012 tax return late Su deducción por intereses hipotecarios es $1,270 ($1,220 + $50). How to file 2012 tax return late Intereses pagados por adelantado. How to file 2012 tax return late   Si paga intereses por adelantado para un período que va más allá del final del año tributario, tiene que pagar dichos intereses a plazos intercalados a lo largo de los años tributarios correspondientes. How to file 2012 tax return late Puede deducir en cada año únicamente los intereses que puedan considerarse intereses hipotecarios de vivienda para ese año. How to file 2012 tax return late No obstante, hay una excepción correspondiente a los puntos, tema que se aborda más adelante. How to file 2012 tax return late Crédito por intereses hipotecarios. How to file 2012 tax return late   Quizás pueda reclamar un crédito por intereses hipotecarios si un gobierno estatal o local le otorgó un certificado de crédito hipotecario (MCC, por sus siglas en inglés). How to file 2012 tax return late Calcule el crédito en el Formulario 8396, Mortgage Interest Credit (Crédito por intereses hipotecarios), en inglés. How to file 2012 tax return late Si toma este crédito, tiene que reducir la deducción de intereses hipotecarios por la cantidad del crédito. How to file 2012 tax return late   Para más información sobre el crédito, vea el capítulo 37 . How to file 2012 tax return late Subsidio de vivienda para ministros de la iglesia y personal militar. How to file 2012 tax return late   Si es ministro de una iglesia o miembro de las Fuerzas Armadas y recibe un subsidio de vivienda que no está sujeto a impuestos, aún puede deducir sus intereses hipotecarios de vivienda. How to file 2012 tax return late Hardest Hit Fund (Fondo de ayuda para propietarios de vivienda más afectados) y los programas de préstamos de emergencia para propietarios de viviendas. How to file 2012 tax return late   Puede utilizar un método especial para calcular la deducción de los intereses de la hipoteca y los impuestos de bienes inmuebles en su vivienda principal si reúne ambas de las siguientes condiciones: Usted recibió ayuda conforme a: Un programa del Hardest Hit Fund (Fondo de ayuda para los propietarios de vivienda más afectados que viven en estados con alto desempleo y una baja en el precio de viviendas) del State Housing Finance Agency (State HFA) (Agencia del Financiamiento de Viviendas (HFA estatal)) para los mercados inmobiliarios, en el cual los pagos procedentes de dichos programas pueden usarse para pagar los intereses hipotecarios o Un Emergency Homeowner's Loan Program (Programa de préstamos de emergencia para propietarios de viviendas), administrado por el Departamento de Vivienda y Desarrollo Urbano (HUD, por sus siglas en inglés) o por un estado. How to file 2012 tax return late Usted reúne las condiciones de los reglamentos para deducir todos los intereses hipotecarios del préstamo y todos los impuestos de bienes inmuebles de su vivienda principal. How to file 2012 tax return late   Si reúne todas las condiciones, entonces puede deducir todos los pagos que hizo durante el año al prestamista hipotecario, a la HFA estatal o a HUD, en la hipoteca de la vivienda (incluyendo el monto que muestra el recuadro 3 del Formulario 1098-MA, Mortgage Assistance Payments (Pagos de ayuda para la hipoteca), pero no más de la suma de las cantidades mostradas en el Formulario 1098, Mortgage Interest Statement (Estado de cuenta de los intereses hipotecarios), en el recuadro 1 (intereses recibidos del (de los) pagador(es)), el recuadro 4 (primas de seguro hipotecario) y el recuadro 5 (impuestos sobre los bienes inmuebles). How to file 2012 tax return late Sin embargo, a usted no se le requiere utilizar este método especial para calcular la deducción para los intereses de la hipoteca y los impuestos de los bienes inmuebles en su vivienda principal. How to file 2012 tax return late Pagos de asistencia hipotecaria conforme a la sección 235 de la Ley de Vivienda Nacional. How to file 2012 tax return late   Si reúne los requisitos para recibir pagos de asistencia hipotecaria para familias de bajos recursos conforme a la sección 235 de la Ley de Vivienda Nacional (National Housing Act), la totalidad o parte de los intereses sobre su hipoteca podrían ser pagados en nombre suyo. How to file 2012 tax return late No puede deducir los intereses pagados en nombre suyo. How to file 2012 tax return late No tiene otro efecto sobre los impuestos. How to file 2012 tax return late   No incluya estos pagos de asistencia hipotecaria en sus ingresos. How to file 2012 tax return late Además, no use estos pagos para reducir otras deducciones, tales como los impuestos sobre bienes raíces. How to file 2012 tax return late Personas divorciadas o separadas. How to file 2012 tax return late   Si un acuerdo de divorcio o un acuerdo de separación matrimonial exige que usted o su cónyuge o ex cónyuge pague intereses hipotecarios de vivienda de la cual ambos son dueños, el pago de intereses podría considerarse pensión para el cónyuge divorciado. How to file 2012 tax return late Vea el tema Pagos por una vivienda comprada conjuntamente , en el capítulo 18. How to file 2012 tax return late Alquiler de terreno rescatable. How to file 2012 tax return late   Si hace pagos de alquiler anuales o periódicos sobre un alquiler de terreno rescatable, los puede deducir como intereses hipotecarios. How to file 2012 tax return late   Los pagos hechos para terminar el contrato de arrendamiento y para comprar la parte completa del arrendador de la tierra no se pueden deducir como intereses hipotecarios. How to file 2012 tax return late Para más información, vea la Publicación 936, en inglés. How to file 2012 tax return late Alquileres de terreno no rescatables. How to file 2012 tax return late   Los pagos hechos sobre un alquiler de terreno no rescatable no son intereses hipotecarios. How to file 2012 tax return late Los puede deducir como alquiler si son un gasto comercial o si corresponden a propiedad de alquiler. How to file 2012 tax return late Hipotecas inversas. How to file 2012 tax return late   Una hipoteca inversa es un préstamo cuyas condiciones permiten al prestamista pagarle (ya sea en suma global, con pago mensual por adelantado, línea de crédito o una combinación de estos tres métodos) mientras usted sigue como residente en su vivienda. How to file 2012 tax return late Una hipoteca inversa le da derecho a mantener la escritura de su vivienda. How to file 2012 tax return late Según el plan que tenga, la hipoteca inversa vence y comienza a generar intereses cuando se mude, venda su vivienda, llegue al término del plazo de un préstamo preseleccionado o fallezca. How to file 2012 tax return late Puesto que las hipotecas inversas se consideran anticipos de préstamo y no ingresos, el monto que reciba no está sujeto a impuestos. How to file 2012 tax return late Los intereses devengados (incluyendo un descuento de los intereses originales) sobre una hipoteca inversa no se pueden deducir hasta que se reembolse la totalidad del préstamo. How to file 2012 tax return late La deducción a la que tenga derecho podría estar limitada ya que un préstamo de hipoteca inversa suele estar sujeto al límite sobre la Home Equity Debt (Deuda sobre el valor neto de la vivienda), tema que se explica en la Publicación 936, en inglés. How to file 2012 tax return late Pagos de alquiler. How to file 2012 tax return late   Si vive en una casa antes del cierre final de la compra, todos los pagos que haga para ese período son alquiler y no son intereses. How to file 2012 tax return late Esto es cierto aun si se denominan intereses en los documentos relacionados con el cierre. How to file 2012 tax return late No puede deducir esos pagos como intereses hipotecarios de vivienda. How to file 2012 tax return late Fondos procedentes de una hipoteca invertidos en valores exentos de impuestos. How to file 2012 tax return late   No puede deducir los intereses hipotecarios de vivienda sobre la deuda con refugio legal o deuda sobre el valor neto de la vivienda si utilizó los fondos procedentes de la hipoteca para comprar valores o certificados que generan ingresos exentos de impuestos. How to file 2012 tax return late La “deuda con refugio legal” y la “deuda sobre el valor neto de la vivienda” se definen anteriormente bajo Cantidad Deducible. How to file 2012 tax return late Reembolsos de intereses. How to file 2012 tax return late   Si recibe un reembolso de intereses en el mismo año tributario en que los pagó, tiene que reducir su gasto de intereses por la cantidad que se le reembolse. How to file 2012 tax return late Si recibe un reembolso de intereses que dedujo en un año anterior, por regla general tiene que incluirlo en sus ingresos en el año en que lo reciba. How to file 2012 tax return late No obstante, necesita incluirlo sólo hasta la cantidad de la deducción que redujo su impuesto el año anterior. How to file 2012 tax return late Esto es cierto independientemente de si los intereses cobrados en exceso le fueron reembolsados o se usaron para reducir el principal pendiente de su hipoteca. How to file 2012 tax return late    Si recibe un reembolso de intereses que pagó en exceso en un año anterior, generalmente recibirá el Formulario 1098, Mortgage Interest Statement (Estado de cuenta de los intereses hipotecarios), en inglés, que muestra el reembolso en el recuadro 3. How to file 2012 tax return late Para más información sobre el Formulario 1098, vea Formulario 1098, Estado de Cuenta de los Intereses Hipotecarios , más adelante. How to file 2012 tax return late   Para más información sobre cómo tratar los reembolsos de intereses deducidos en años anteriores, vea Recuperación de Fondos , en el capítulo 12. How to file 2012 tax return late Puntos El término “puntos” se usa para describir ciertos cargos pagados, o tratados como pagados, por un prestatario para obtener una hipoteca de vivienda. How to file 2012 tax return late Los puntos también se pueden llamar costos originarios de un préstamo, cargos máximos de un préstamo, descuento del préstamo o puntos de descuento. How to file 2012 tax return late A un prestatario se le trata como si pagara todos los puntos que paga un vendedor de vivienda por la hipoteca del prestatario. How to file 2012 tax return late Vea Puntos pagados por el vendedor , más adelante. How to file 2012 tax return late Regla General Por lo general, no se puede deducir la cantidad completa de puntos en el año en que se pagaron. How to file 2012 tax return late Debido a que son intereses pagados por adelantado, generalmente se deducen proporcionalmente a lo largo de la vigencia (duración) de la hipoteca. How to file 2012 tax return late Vea Deducción Permitida Proporcionalmente , que se presenta a continuación. How to file 2012 tax return late Para excepciones a la regla general, vea Deducción Permitida en el Año del Pago , más adelante. How to file 2012 tax return late Deducción Permitida Proporcionalmente Si no reúne las condiciones mencionadas a continuación bajo Deducción Permitida en el Año del Pago , el préstamo no es considerado un préstamo para mejoras de viviendas, o si escoge no deducir la totalidad de sus puntos en el año en que los pagó, puede deducir los puntos proporcionalmente (igualmente) a lo largo de la vida del préstamo si reúne todas las condiciones siguientes: Utiliza el método contable a base de efectivo. How to file 2012 tax return late Esto significa que declara sus ingresos en el año en que los reciba y deduce sus gastos en el año en que los paga. How to file 2012 tax return late La mayoría de las personas usan este método. How to file 2012 tax return late Su préstamo está garantizado por una vivienda. How to file 2012 tax return late (La vivienda no necesita ser su vivienda principal). How to file 2012 tax return late El plazo del préstamo no es más de 30 años. How to file 2012 tax return late Si el plazo del préstamo es más de 10 años, las condiciones de su préstamo son las mismas que las de otros préstamos ofrecidos en su área para el mismo plazo o un plazo más largo. How to file 2012 tax return late El monto de su préstamo es de $250,000 o menos o el número de puntos no sobrepasa: 4, si el plazo del préstamo es 15 años o menos o 6, si el plazo del préstamo es más de 15 años. How to file 2012 tax return late Deducción Permitida en el Año del Pago Puede deducir la totalidad de los puntos en el año en que se pagaron si cumple todas las condiciones siguientes. How to file 2012 tax return late (Puede usar la Figura 23-B como guía rápida de referencia para averiguar si sus puntos son totalmente deducibles en el año del pago). How to file 2012 tax return late Su préstamo está garantizado por su vivienda principal. How to file 2012 tax return late (Su vivienda principal es aquélla donde usted reside la mayor parte del tiempo). How to file 2012 tax return late Pagar puntos es una práctica comercial establecida en el área donde se efectuó el préstamo. How to file 2012 tax return late Los puntos pagados no eran mayores que los puntos que se suelen cobrar en esa área. How to file 2012 tax return late Utiliza el método contable a base de efectivo. How to file 2012 tax return late Esto significa que declara sus ingresos en el año en que los reciba y deduce sus gastos en el año en que los paga. How to file 2012 tax return late (Si desea más información acerca de este método, vea Métodos Contables en el capítulo 1). How to file 2012 tax return late Los puntos no se pagaron en lugar de cantidades que suelen declarase por separado en el informe de cierre, tales como cargos por tasación, cargos por inspección, honorarios correspondientes al título de la propiedad, honorarios de abogado e impuestos sobre la propiedad. How to file 2012 tax return late Los fondos que usted proveyó antes del cierre, o en el momento del mismo, más los puntos pagados por el vendedor, eran por lo menos iguales a los puntos que se cobraron. How to file 2012 tax return late No se requiere que los fondos que proveyó hayan sido aplicados a los puntos. How to file 2012 tax return late Pueden incluir un pago inicial o de enganche, un depósito en plica, un depósito de buena fe y otros fondos que usted pagó en el momento, o antes, del cierre por cualquier razón. How to file 2012 tax return late No puede haber tomado prestados dichos fondos de su prestamista o agente hipotecario. How to file 2012 tax return late Usa el préstamo para comprar o construir su vivienda principal. How to file 2012 tax return late Los puntos se calcularon como un porcentaje del principal de la hipoteca. How to file 2012 tax return late La cantidad aparece indicada claramente en el informe de cierre (tal como el Settlement Statement, Form HUD-1 (Informe de Cierre, Formulario HUD-1, del Departamento de Vivienda y Desarrollo Urbano)) como puntos cobrados por la hipoteca. How to file 2012 tax return late Los puntos pueden aparecer indicados como puntos pagados con fondos suyos o del vendedor. How to file 2012 tax return late Figura 23-B. How to file 2012 tax return late ¿Son los Puntos Totalmente Deducibles este Año? Please click here for the text description of the image. How to file 2012 tax return late Figura 23-B. How to file 2012 tax return late ¿Son Los Puntos Totalmente Deducibles Este Año? Nota: Si reúne todas estas condiciones, puede optar por deducir la totalidad de los puntos en el año en que los pagó o deducirlos a lo largo de la vigencia del préstamo. How to file 2012 tax return late Préstamo para mejoras de vivienda. How to file 2012 tax return late   También puede deducir, en el año en que fueron pagados, la totalidad de los puntos pagados sobre un préstamo para mejorar su vivienda principal, si se cumplen las condiciones (1) a (6). How to file 2012 tax return late Segunda vivienda. How to file 2012 tax return late No puede deducir la totalidad de los puntos que pague sobre préstamos garantizados por su segunda vivienda en el año en el que los pagó. How to file 2012 tax return late Puede deducir esos puntos únicamente a lo largo de la vida del préstamo. How to file 2012 tax return late Refinanciamiento. How to file 2012 tax return late   Por regla general, los puntos que pague para refinanciar una hipoteca no son deducibles en su totalidad el año en que los pague. How to file 2012 tax return late Esto es cierto aunque la nueva hipoteca esté garantizada por su vivienda principal. How to file 2012 tax return late   Sin embargo, si usa parte de los fondos procedentes de la hipoteca refinanciada para mejorar su vivienda principal y cumple las primeras 6 condiciones que aparecen bajo Deducción Permitida en el Año del Pago , anteriormente, puede deducir toda la parte de los puntos relacionada con la mejora en el año en que los pagó con sus propios fondos. How to file 2012 tax return late Puede deducir el resto de los puntos a lo largo de la vida del préstamo. How to file 2012 tax return late Ejemplo 1. How to file 2012 tax return late En 1998, Guillermo Campos obtuvo una hipoteca para comprar una vivienda. How to file 2012 tax return late En el año 2013, Guillermo refinanció dicha hipoteca con un préstamo hipotecario de $100,000 a 15 años. How to file 2012 tax return late La hipoteca está garantizada por su vivienda. How to file 2012 tax return late Para obtener el nuevo préstamo, tuvo que pagar tres puntos ($3,000). How to file 2012 tax return late Dos puntos ($2,000) eran por intereses pagados por adelantado y un punto ($1,000) por servicios, en lugar de cantidades que generalmente se declaran por separado en el informe de cierre. How to file 2012 tax return late Guillermo pagó los puntos con sus fondos personales en vez de pagarlos con los fondos procedentes del nuevo préstamo. How to file 2012 tax return late El pago de los puntos es una práctica comercial establecida en esa área y los puntos que se cobraron no son mayores que la cantidad que se suele cobrar en dicha área. How to file 2012 tax return late El plazo para el primer pago de Guillermo sobre el nuevo préstamo venció el 1 de julio. How to file 2012 tax return late Hizo seis pagos sobre el préstamo en el año 2013 y es un contribuyente que sigue el método contable a base de efectivo. How to file 2012 tax return late Guillermo usó los fondos procedentes de la nueva hipoteca para amortizar su hipoteca actual. How to file 2012 tax return late Aunque el nuevo préstamo hipotecario era para que Guillermo siguiera siendo el dueño de su vivienda principal, dicho préstamo no era para la compra o mejora de aquella vivienda. How to file 2012 tax return late No puede deducir todos los puntos en el año 2013. How to file 2012 tax return late Puede deducir dos puntos ($2,000) proporcionalmente a lo largo de la vida del préstamo. How to file 2012 tax return late Deduce $67 [($2,000 ÷ 180 meses) × 6 pagos] de los puntos en el año 2013. How to file 2012 tax return late El otro punto ($1,000) era un cargo por servicios y no se puede deducir. How to file 2012 tax return late Ejemplo 2. How to file 2012 tax return late Los hechos son iguales a los del Ejemplo 1, excepto que Guillermo usó $25,000 de los fondos procedentes del préstamo para mejorar su vivienda y $75,000 para amortizar su hipoteca actual. How to file 2012 tax return late Guillermo deduce el 25% ($25,000 ÷ $100,000) de los puntos ($2,000) en el año 2013. How to file 2012 tax return late Su deducción es de $500 ($2,000 × 25%). How to file 2012 tax return late Además, Guillermo deduce la parte proporcionada de los $1,500 sobrantes ($2,000 − $500) que se tiene que pagar a plazos intercalados a lo largo de la vida del préstamo. How to file 2012 tax return late Esto es $50 [($1,500 ÷ 180 meses) × 6 pagos] en el año 2013. How to file 2012 tax return late La cantidad total que Guillermo deduce en el año 2013 es $550 ($500 + $50). How to file 2012 tax return late Situaciones Especiales Esta sección describe ciertas situaciones especiales que podrían afectar su deducción de puntos. How to file 2012 tax return late Descuento de la emisión original. How to file 2012 tax return late   Si no reúne los requisitos para deducir los puntos en el año en que los pagó o deducirlos proporcionalmente a lo largo de la vida del préstamo, o si escoge no utilizar ninguno de estos métodos, los puntos reducen el precio de emisión del préstamo. How to file 2012 tax return late Esta reducción resulta en un descuento de la emisión original, el cual se explica en el capítulo 4 de la Publicación 535, Business Expenses (Gastos de negocios), en inglés. How to file 2012 tax return late Cantidades cobradas por servicios. How to file 2012 tax return late   Las cantidades cobradas por el prestamista por servicios específicos relacionados con el préstamo no son intereses. How to file 2012 tax return late Ejemplos de estos cargos son: Cargos de tasación, Cargos por servicios de notario y Costos de preparación del pagaré hipotecario o escritura de título. How to file 2012 tax return late No puede deducir estas cantidades como puntos ni en el año en que las pagó ni a lo largo de la vigencia de la hipoteca. How to file 2012 tax return late Puntos pagados por el vendedor. How to file 2012 tax return late   El término “puntos” incluye cargos por colocación del préstamo que el vendedor le paga al prestamista para proporcionar financiamiento para el comprador. How to file 2012 tax return late En el caso del vendedor. How to file 2012 tax return late   El vendedor no puede deducir estos cargos como intereses. How to file 2012 tax return late Pero sí son un gasto de venta que reduce la cantidad obtenida por el mismo. How to file 2012 tax return late Vea el capítulo 15 para información sobre la venta de su vivienda. How to file 2012 tax return late En el caso del comprador. How to file 2012 tax return late    El comprador reduce la base de la vivienda por la cantidad de los puntos pagados por el vendedor y trata los puntos como si él o ella los hubiera pagado. How to file 2012 tax return late Si se cumplen todas las condiciones anteriores bajo Deducción Permitida en el Año del Pago , el comprador puede deducir los puntos en el año en que los pagó. How to file 2012 tax return late Si no se reúne alguna de esas condiciones, el comprador deduce los puntos a lo largo de la vida del préstamo. How to file 2012 tax return late   Para más información sobre la base, vea el capítulo 13 . How to file 2012 tax return late Si los fondos provistos son menores que los puntos. How to file 2012 tax return late   Si reúne todas las condiciones de la sección anterior Deducción Permitida en el Año del Pago , excepto que los fondos que proveyó eran menores que los puntos que le fueron cobrados (condición (6)), puede deducir los puntos en el año en que los pagó, hasta la cantidad de fondos que proveyó. How to file 2012 tax return late Además, puede deducir todo punto pagado por el vendedor. How to file 2012 tax return late Ejemplo 1. How to file 2012 tax return late Cuando sacó un préstamo hipotecario de $100,000 para comprar su vivienda en diciembre, le cobraron un punto ($1,000). How to file 2012 tax return late Usted reúne todas las condiciones para deducir puntos en el año en que los pagó, excepto que los únicos fondos que proveyó eran los de un pago inicial o enganche de $750. How to file 2012 tax return late De los $1,000 cobrados por puntos, puede deducir $750 en el año en que los pagó. How to file 2012 tax return late Puede deducir los $250 sobrantes a lo largo de la vigencia de la hipoteca. How to file 2012 tax return late Ejemplo 2. How to file 2012 tax return late Los hechos son iguales a los del Ejemplo 1, excepto que la persona que le vendió su vivienda también pagó un punto ($1,000) para ayudarlo a obtener su hipoteca. How to file 2012 tax return late En el año del pago, usted puede deducir $1,750 ($750 de la cantidad que le cobraron a usted más los $1,000 pagados por el vendedor). How to file 2012 tax return late Puede deducir los $250 sobrantes a lo largo de la vigencia de la hipoteca. How to file 2012 tax return late Tiene que restar de la base de su vivienda los $1,000 pagados por el vendedor. How to file 2012 tax return late Puntos en exceso. How to file 2012 tax return late   Si reúne todas las condiciones de la sección anterior, Deducción Permitida en el Año del Pago , salvo que los puntos pagados eran mayores que los que generalmente se pagan en su área (condición (3)), en el año del pago deduce sólo los puntos que se suelen cobrar. How to file 2012 tax return late Tiene que deducir los puntos adicionales a lo largo de la vigencia de la hipoteca. How to file 2012 tax return late Hipoteca que termina antes del plazo de vigencia convenido. How to file 2012 tax return late   Si distribuye la deducción de los puntos a lo largo de la vigencia de la hipoteca, puede deducir todo saldo restante en el año en que vence la hipoteca. How to file 2012 tax return late Sin embargo, si la refinancia con el mismo prestamista, no puede deducir ningún saldo restante de los puntos distribuidos a lo largo de la vigencia de dicha hipoteca. How to file 2012 tax return late En vez de ello, deduzca el saldo restante a lo largo de la vigencia del nuevo préstamo. How to file 2012 tax return late    Una hipoteca podría vencer antes de lo programado debido al pago por adelantado, refinanciamiento, ejecución de hipoteca o acontecimiento parecido. How to file 2012 tax return late Ejemplo. How to file 2012 tax return late Daniel pagó $3,000 en puntos en 2002 que tuvo que deducir distribuidos a lo largo de la vigiencia de su hipoteca de 15 años. How to file 2012 tax return late Deduce $200 en puntos por año. How to file 2012 tax return late Ha deducido $2,200 de estos puntos hasta el año 2012, inclusive. How to file 2012 tax return late Daniel pagó por adelantado la totalidad de su hipoteca en el año 2013. How to file 2012 tax return late Puede deducir los $800 de puntos restantes en el año 2013. How to file 2012 tax return late Límites sobre la deducción. How to file 2012 tax return late   No puede deducir la totalidad de los puntos sobre una hipoteca a menos que la misma corresponda a una de las categorías enumeradas anteriormente bajo Intereses totalmente deducibles . How to file 2012 tax return late Vea la Publicación 936, en inglés, para más información. How to file 2012 tax return late Primas de Seguro Hipotecario Las primas pagadas por un seguro hipotecario calificado durante el año 2013 se pueden deducir como intereses hipotecarios de vivienda. How to file 2012 tax return late Dicho seguro tiene que estar relacionado con una deuda por adquisición de vivienda; el contrato de seguro tiene que haberse emitido después del año 2006. How to file 2012 tax return late Seguro hipotecario calificado. How to file 2012 tax return late   El seguro hipotecario calificado incluye seguros hipotecarios facilitados por el Departamento de Asuntos de los Veteranos, la Administración Federal de Vivienda o el Servicio de la Vivienda Rural y seguros hipotecarios privados (como se define en la sección 2 de la Homeowners Protection Act (Ley de Protección del Propietario de Vivienda) de 1998, según vigencia del 20 de diciembre de 2006). How to file 2012 tax return late   El seguro hipotecario provisto por el Departamento de Asuntos de los Veteranos se conoce comúnmente como cargo de financiamiento (funding fee). How to file 2012 tax return late Si es provisto por el Servicio de la Vivienda Rural, entonces se conoce como cargo de garantía (guarantee fee). How to file 2012 tax return late Si el contrato de seguro hipotecario entró en vigencia en el año 2013, dichas comisiones se pueden deducir en su totalidad en ese mismo año. How to file 2012 tax return late Póngase en contacto con el emisor del seguro hipotecario para calcular el monto deducible, si éste no se ha declarado en el recuadro 4 del Formulario 1098. How to file 2012 tax return late Reglas especiales para pagos adelantados de seguro hipotecario. How to file 2012 tax return late   Normalmente, si pagó primas de un seguro hipotecario calificado que se puedan asignar a algún período después del cierre del año tributario, se considera que dichas primas se han pagado en el período al que se asignan. How to file 2012 tax return late Tiene que asignar las primas a lo largo del plazo de vigencia establecido por la hipoteca u 84 meses, lo que sea más corto, a partir del mes en el que se obtuvo el seguro. How to file 2012 tax return late No se permite deducción alguna por el saldo no amortizado si se paga la hipoteca antes del plazo de vigencia convenido. How to file 2012 tax return late Este párrafo no corresponde en el caso de un seguro hipotecario calificado que le haya facilitado el Departamento de Asuntos de los Veteranos o el Servicio de la Vivienda Rural. How to file 2012 tax return late Vea el Ejemplo que se presenta a continuación. How to file 2012 tax return late Ejemplo. How to file 2012 tax return late Ronaldo compró una vivienda en mayo de 2012 y la financió por medio de una hipoteca de 15 años. How to file 2012 tax return late Además, Ronaldo pagó por adelantado la totalidad de los $9,240 en seguros hipotecarios privados que estuvo obligado a pagar en el momento del cierre, en el mes de mayo. How to file 2012 tax return late Ya que los $9,240 en seguros hipotecarios privados se pueden asignar a períodos posteriores a 2012, Ronaldo tiene que asignar los $9,240 a lo largo del plazo de vigencia establecido por la hipoteca u 84 meses, lo que sea más corto. How to file 2012 tax return late Los ingresos brutos ajustados de Ronaldo son $76,000 para 2012. How to file 2012 tax return late Ronaldo puede deducir $880 ($9,240 ÷ 84 x 8 meses) por primas de un seguro hipotecario calificado en 2012. How to file 2012 tax return late Para 2013, Ronaldo puede deducir $1,320 ($9,240 ÷ 84 x 12 meses) si sus ingresos brutos ajustados son $100,000 o menos. How to file 2012 tax return late En este ejemplo, las primas de seguro hipotecario son asignadas a lo largo de 84 meses, lo cual es más corto que el plazo de vigencia de 15 años (180 meses) establecido por la hipoteca. How to file 2012 tax return late Límite sobre la deducción. How to file 2012 tax return late   Si su ingreso bruto ajustado en la línea 38 del Formulario 1040 es más de $100,000 ($50,000, si es casado que presenta la declaración por separado), se reduce, e incluso podría eliminarse, la cantidad de las primas del seguro hipotecario que de otro modo serían deducibles. How to file 2012 tax return late Para calcular la cantidad que puede deducir, vea Line 13 (Línea 13) en las Instrucciones del Anexo A (Formulario 1040) y complete la Mortgage Insurance Premiums Deduction Worksheet (Hoja de trabajo para la deducción de primas de seguro hipotecario). How to file 2012 tax return late Si su ingreso bruto ajustado es más de $109,000 ($54,500, si es casado que presenta la declaración por separado) no puede deducir las primas de un seguro hipotecario. How to file 2012 tax return late Formulario 1098, Estado de Cuenta de los Intereses Hipotecarios Si usted pagó $600 o más en intereses hipotecarios (incluidos ciertos puntos y primas de seguro hipotecario) durante el año sobre una hipoteca, generalmente recibirá un Formulario 1098, o estado de cuenta parecido, del titular de la hipoteca. How to file 2012 tax return late Recibirá el estado de cuenta si le paga intereses a una persona (incluyendo una institución financiera o una sociedad anónima cooperativa de viviendas) en el transcurso de la ocupación o negocio de aquella persona. How to file 2012 tax return late Una unidad del gobierno se considera una persona para fines de facilitar el estado de cuenta. How to file 2012 tax return late El estado de cuenta para cada año debería serle enviado a usted a más tardar el 31 de enero del año siguiente. How to file 2012 tax return late Una copia de este formulario también le será enviada al IRS. How to file 2012 tax return late En el estado de cuenta aparecerá el total de los intereses que usted pagó durante el año, todas las primas de seguro hipotecario que pagó y, si compró una vivienda principal durante el año, también aparecerán en el estado de cuenta los puntos deducibles pagados durante el año, incluidos puntos pagados por el vendedor. How to file 2012 tax return late Sin embargo, el estado de cuenta no debería mostrar ningún interés que una dependencia del gobierno haya pagado en nombre suyo. How to file 2012 tax return late Por regla general, el Formulario 1098 incluirá sólo los puntos que usted puede deducir totalmente en el año en que los pagó. How to file 2012 tax return late Sin embargo, ciertos puntos no incluidos en el Formulario 1098 también podrían ser deducibles en el año en que los pagó o a lo largo de la vigencia del préstamo. How to file 2012 tax return late Vea la sección anterior Puntos , para determinar si puede deducir puntos que no aparecen en el Formulario 1098. How to file 2012 tax return late Intereses pagados por adelantado en el Formulario 1098. How to file 2012 tax return late   Si pagó intereses por adelantado en el año 2013 devengados en su totalidad para el 15 de enero de 2014, estos intereses pagados por adelantado podrían ser incluidos en el recuadro 1 del Formulario 1098. How to file 2012 tax return late No obstante, no puede deducir la cantidad pagada por adelantado para enero del año 2014 en el año 2013. How to file 2012 tax return late (Vea Intereses pagados por adelantado , anteriormente). How to file 2012 tax return late Tendrá que calcular los intereses devengados en el año 2014 y restarlos de la cantidad del recuadro 1. How to file 2012 tax return late Incluirá los intereses para enero del año 2014 con los demás intereses que pague para el año 2014. How to file 2012 tax return late Vea Cómo Hacer la Declaración , más adelante. How to file 2012 tax return late Intereses reembolsados. How to file 2012 tax return late   Si recibió un reembolso de intereses hipotecarios que pagó en exceso en un año anterior, por lo general, recibirá un Formulario 1098 que muestre el reembolso en el recuadro 3. How to file 2012 tax return late Vea Reembolsos de intereses , anteriormente. How to file 2012 tax return late Primas de seguro hipotecario. How to file 2012 tax return late   La cantidad de primas de seguro hipotecario que pagó en el año 2013 podría aparecer en el recuadro 4 del Formulario 1098. How to file 2012 tax return late Vea Primas de Seguro Hipotecario , anteriormente. How to file 2012 tax return late Intereses Procedentes de Inversiones Esta sección trata sobre los gastos de intereses que quizás podría deducir como inversionista. How to file 2012 tax return late Si saca un préstamo para comprar propiedad que tiene con fines de inversión, los intereses que pague son intereses de inversión. How to file 2012 tax return late Puede deducir intereses de inversión conforme al límite explicado más adelante. How to file 2012 tax return late Sin embargo, no puede deducir intereses en los que incurrió para generar ingresos exentos de impuestos. How to file 2012 tax return late Tampoco puede deducir gastos de intereses sobre una doble opción simultánea de compra y venta. How to file 2012 tax return late Los intereses de inversión no incluyen intereses hipotecarios sobre una vivienda calificada. How to file 2012 tax return late Tampoco incluyen intereses que se hayan tenido en cuenta al calcular ingresos o pérdidas provenientes de una actividad pasiva. How to file 2012 tax return late Bienes de Inversión Los bienes que se tienen para fines de inversión incluyen bienes que producen intereses, dividendos, anualidades o regalías no generados en el curso normal de las operaciones de una ocupación o negocio. How to file 2012 tax return late Además, incluyen bienes que producen ganancias o pérdidas (no generadas en el curso normal de las operaciones de una ocupación o negocio) provenientes de la venta o intercambio comercial de bienes que producen este tipo de ingresos o que se tienen para fines de inversión (a excepción de intereses en una actividad pasiva). How to file 2012 tax return late Los bienes de inversión también incluyen la participación en una actividad relacionada con su ocupación o negocio en la que usted no participó materialmente (a excepción de una actividad pasiva). How to file 2012 tax return late Socios, accionistas y beneficiarios. How to file 2012 tax return late   Para determinar sus intereses de inversión, sume su participación en los intereses de inversión de una sociedad colectiva, sociedad anónima de tipo S, caudal hereditario o fideicomiso más sus demás intereses de inversión. How to file 2012 tax return late Asignación de Gastos de Intereses Si saca un préstamo para fines comerciales o personales además de fines de inversión, tiene que asignar la deuda entre estos fines. How to file 2012 tax return late Sólo el gasto de intereses de la parte de la deuda que se usa para fines de inversión se considera intereses de inversión. How to file 2012 tax return late La asignación no se ve afectada por el uso de bienes que garantizan la deuda. How to file 2012 tax return late Límite sobre la Deducción Por regla general, la deducción por gastos de intereses de inversión se limita a la cantidad del ingreso neto de inversiones. How to file 2012 tax return late Puede trasladar al año tributario siguiente la cantidad de intereses de inversión que no pudo deducir debido a este límite. How to file 2012 tax return late Los intereses trasladados se consideran intereses de inversión pagados o acumulados en ese año siguiente. How to file 2012 tax return late Puede trasladar al año tributario siguiente intereses de inversión denegados aun si son mayores que su ingreso tributable en el año en que los intereses se pagaron o se acumularon. How to file 2012 tax return late Ingresos Netos de Inversiones Determine la cantidad de sus ingresos netos de inversiones restando sus gastos de inversión (a excepción de los gastos de intereses) de sus ingresos de inversiones. How to file 2012 tax return late Ingresos procedentes de inversiones. How to file 2012 tax return late    Por regla general, esto incluye su ingreso bruto proveniente de bienes que se tengan con fines de inversión (tales como intereses, dividendos, anualidades y regalías). How to file 2012 tax return late El ingreso de inversiones no incluye dividendos del Alaska Permanent Fund (Fondo Permanente de Alaska). How to file 2012 tax return late Tampoco incluye dividendos calificados o ganancias de capital netas a no ser que usted escoja incluirlos. How to file 2012 tax return late Si escoge incluir dividendos calificados. How to file 2012 tax return late   Los ingresos de inversiones normalmente no incluyen dividendos calificados, explicados en el capítulo 8. How to file 2012 tax return late No obstante, puede escoger incluir la totalidad o parte de sus dividendos calificados en los ingresos de inversiones. How to file 2012 tax return late   Esta opción se hace llenando la línea 4g del Formulario 4952, en inglés, según las instrucciones del mismo. How to file 2012 tax return late   Si escoge incluir alguna cantidad de sus dividendos calificados en los ingresos de inversiones, tendrá que restar esa misma cantidad de los dividendos calificados con derecho a las tasas tributarias más bajas aplicadas a ganancias de capital. How to file 2012 tax return late Si escoge incluir ganancias netas de capital. How to file 2012 tax return late   Por regla general, los ingresos de inversiones no incluyen ganancias netas de capital provenientes de la enajenación de bienes de inversión (incluidas distribuciones de ganancias de capital provenientes de fondos mutuos). How to file 2012 tax return late No obstante, puede escoger incluir la totalidad o parte de sus ganancias netas de capital en los ingresos de inversiones. How to file 2012 tax return late    Esta opción se hace llenando la línea 4g del Formulario 4952, en inglés, según las instrucciones del mismo. How to file 2012 tax return late   Si escoge incluir alguna cantidad de sus ganancias netas de capital en los ingresos de inversiones, tiene que restar esa misma cantidad de las ganancias netas de capital con derecho a las tasas tributarias más bajas aplicadas a ganancias de capital. How to file 2012 tax return late    Antes de escoger entre las dos opciones, tenga en cuenta el efecto general sobre su obligación tributaria. How to file 2012 tax return late Compare el impuesto que pagaría si tomara una o ambas opciones con el impuesto si no tomara ninguna de las dos. How to file 2012 tax return late Ingresos de inversiones de un hijo declarados por los padres. How to file 2012 tax return late    Los ingresos de inversiones incluyen la parte del ingreso de intereses y dividendos de su hijo que escoge declarar en su declaración. How to file 2012 tax return late Si el hijo no tiene dividendos calificados, dividendos del Alaska Permanent Fund (Fondo Permanente de Alaska) o distribuciones de ganancias de capital, esta cantidad corresponde a la línea 6 del Formulario 8814, Parents' Election To Report Child's Interest and Dividends (Elección de los padres de declarar los intereses y dividendos del hijo), en inglés. How to file 2012 tax return late Dividendos calificados del hijo. How to file 2012 tax return late   Si parte de la cantidad que usted declara corresponde a los dividendos calificados de su hijo, esa parte (la cual se declara en la línea 9b del Formulario 1040) generalmente no cuenta como ingreso de inversiones. How to file 2012 tax return late Sin embargo, puede escoger incluir toda o parte de la misma en los ingresos de inversiones, como se explica en Si escoge incluir dividendos calificados , anteriormente. How to file 2012 tax return late   Sus ingresos de inversiones también incluyen la cantidad de la línea 12 del Formulario 8814 (o, si corresponde, la cantidad reducida calculada bajo Dividendos del Alaska Permanent Fund (Fondo Permanente de Alaska) del hijo, tema presentado a continuación. How to file 2012 tax return late Dividendos del Alaska Permanent Fund (Fondo Permanente de Alaska) del hijo. How to file 2012 tax return late   Si parte de la cantidad que declara corresponde a los dividendos de su hijo del Alaska Permanent Fund, dicha parte no cuenta como ingresos de inversiones. How to file 2012 tax return late Para calcular la cantidad de los ingresos de su hijo que usted puede considerar ingresos de inversiones suyos, empiece con la cantidad que aparece en la línea 6 del Formulario 8814. How to file 2012 tax return late Multiplique dicha cantidad por un porcentaje que sea igual a los dividendos del Alaska Permanent Fund divididos por el total de la línea 4 del Formulario 8814. How to file 2012 tax return late Reste el resultado de la cantidad de la línea 12 del Formulario 8814. How to file 2012 tax return late Distribuciones de las ganancias de capital del hijo. How to file 2012 tax return late    Si parte de la cantidad que usted declara corresponde a distribuciones de las ganancias de capital de su hijo, dicha parte (la cual se declara en la línea 13 del Anexo D o la línea 13 del Formulario 1040) generalmente no cuenta como ingresos de inversiones. How to file 2012 tax return late Sin embargo, puede escoger incluir la totalidad o parte de la misma en los ingresos de inversiones, como se explica en Si escoge incluir ganancias netas de capital , anteriormente. How to file 2012 tax return late   Sus ingresos de inversiones también incluyen la cantidad de la línea 12 del Formulario 8814 (o, si corresponde, la cantidad reducida calculada bajo Dividendos del Alaska Permanent Fund (Fondo Permanente de Alaska) del hijo , anteriormente). How to file 2012 tax return late Gastos de inversión. How to file 2012 tax return late   Los gastos de inversión incluyen las deducciones permitidas (a excepción de los gastos de intereses) relacionados directamente con la generación de ingresos de inversión. How to file 2012 tax return late Los gastos de inversión que se incluyan como deducción detallada miscelánea en el Anexo A (Formulario 1040) son deducciones permisibles después de haberse aplicado el límite del 2% que corresponde a las deducciones detalladas misceláneas. How to file 2012 tax return late Utilice la cantidad que sea menor entre: Los gastos de inversión incluidos en la línea 23 del Anexo A (Formulario 1040) o La cantidad de la línea 27 del Anexo A. How to file 2012 tax return late Pérdidas de actividades pasivas. How to file 2012 tax return late   Los ingresos o gastos que usted utilizó al calcular su ingreso o pérdida de una actividad pasiva no se incluyen al determinar sus ingresos o gastos de inversión (incluidos gastos de intereses de inversión). How to file 2012 tax return late Vea la Publicación 925, Passive Activity and At-Risk Rules (Actividad pasiva y reglas sobre el monto a riesgo), en inglés, para información acerca de las actividades pasivas. How to file 2012 tax return late Formulario 4952 Use el Formulario 4952, Investment Interest Expense Deduction (Deducción por gastos de intereses de inversión), en inglés, para calcular su deducción por intereses de inversión. How to file 2012 tax return late Excepción al uso del Formulario 4952. How to file 2012 tax return late   No tiene que llenar el Formulario 4952 ni adjuntarlo a su declaración si reúne todos los requisitos siguientes: Sus gastos de intereses de inversión no son mayores que sus ingresos de inversión provenientes de intereses y dividendos ordinarios menos los dividendos calificados. How to file 2012 tax return late No tiene ningún otro gasto de inversión deducible. How to file 2012 tax return late No ha traspasado ningún gasto de intereses de inversión del año 2012. How to file 2012 tax return late Si reúne todas estas condiciones, puede deducir todos sus intereses de inversión. How to file 2012 tax return late Información Adicional Para más información sobre los intereses de inversión, vea Interest Expenses (Gastos de intereses), en el capítulo 3 de la Publicación 550, en inglés. How to file 2012 tax return late Cantidades que No Puede Deducir Algunos pagos de intereses no son deducibles. How to file 2012 tax return late Ciertos gastos semejantes a los intereses tampoco son deducibles. How to file 2012 tax return late Los gastos no deducibles incluyen los siguientes: Intereses personales (explicados más adelante). How to file 2012 tax return late Cargos por servicios (no obstante, vea Otros Gastos (Línea 23) en el capítulo 28). How to file 2012 tax return late Cargos anuales por tarjetas de crédito. How to file 2012 tax return late Cargos de préstamos. How to file 2012 tax return late Cargos por investigación de crédito. How to file 2012 tax return late Intereses para comprar o tener valores exentos de impuestos. How to file 2012 tax return late Multas y sanciones. How to file 2012 tax return late   No puede deducir multas y sanciones pagadas a un gobierno por violaciones de la ley, independientemente de su naturaleza. How to file 2012 tax return late Intereses Personales Los intereses personales no son deducibles. How to file 2012 tax return late Los intereses personales son aquellos intereses que no son intereses hipotecarios de vivienda, intereses de inversión, intereses comerciales u otros intereses deducibles. How to file 2012 tax return late Incluyen lo siguiente: Intereses sobre préstamos de automóvil (a menos que usted use el automóvil para negocios). How to file 2012 tax return late Intereses sobre el impuesto federal, estatal o local sobre el ingreso. How to file 2012 tax return late Cargos por financiamiento de tarjetas de crédito, contratos de venta al por menor a plazos y cuentas de crédito rotativas en los que se ha incurrido por gastos personales. How to file 2012 tax return late Multas por pagos atrasados por una empresa de servicios públicos. How to file 2012 tax return late Quizás pueda deducir los intereses que pague sobre un préstamo de estudios calificado. How to file 2012 tax return late Para más detalles, vea la Publicación 970, Tax Benefits for Education (Beneficios tributarios por estudios), en inglés. How to file 2012 tax return late Asignación de Intereses Si usa los fondos de un préstamo para más de un propósito (por ejemplo, personal y comercial), tiene que asignar los intereses sobre el préstamo para cada uso. How to file 2012 tax return late Sin embargo, no tiene que asignar intereses hipotecarios de vivienda si son totalmente deducibles, independientemente de cómo se usen los fondos. How to file 2012 tax return late Los intereses sobre un préstamo (a excepción de intereses hipotecarios de vivienda totalmente deducibles) se asignan igual que se asigna el préstamo mismo. How to file 2012 tax return late Esto se hace averiguando cómo se asignaron a usos específicos los desembolsos de los fondos procedentes de la deuda. How to file 2012 tax return late Para más información sobre cómo hacer esto, vea el capítulo 4 de la Publicación 535, en inglés. How to file 2012 tax return late Cómo Hacer la Declaración Tiene que presentar el Formulario 1040 para deducir los gastos de intereses hipotecarios de vivienda en su declaración de impuestos. How to file 2012 tax return late El lugar donde se deducen los gastos de intereses suele depender de cómo se usen los fondos procedentes del préstamo. How to file 2012 tax return late Vea la Tabla 23-1 para un resumen de dónde deducir sus gastos de intereses. How to file 2012 tax return late Tabla 23-1. How to file 2012 tax return late Dónde Deducir los Gastos de Intereses SI usted tiene. How to file 2012 tax return late . How to file 2012 tax return late . How to file 2012 tax return late ENTONCES dedúzcalo en la. How to file 2012 tax return late . How to file 2012 tax return late . How to file 2012 tax return late Y para más información pase a la(s). How to file 2012 tax return late . How to file 2012 tax return late . How to file 2012 tax return late intereses deducibles sobre un préstamo de estudios línea 33 del Formulario 1040 o la línea 18 del Formulario 1040A Publicación 970, en inglés. How to file 2012 tax return late intereses deducibles sobre una hipoteca de vivienda y puntos declarados en el Formulario 1098 línea 10 del Anexo A (Formulario 1040) Publicación 936, en inglés. How to file 2012 tax return late intereses deducibles sobre una hipoteca de vivienda no declarados en el Formulario 1098 línea 11 del Anexo A (Formulario 1040) Publicación 936, en inglés. How to file 2012 tax return late puntos deducibles no declarados en el Formulario 1098 línea 12 del Anexo A (Formulario 1040) Publicación 936, en inglés. How to file 2012 tax return late primas de un seguro hipotecario deducibles línea 13 del Anexo A (Formulario 1040) Publicación 936, en inglés. How to file 2012 tax return late intereses de inversión deducibles (a excepción de intereses en los que se haya incurrido para generar alquileres o regalías) línea 14 del Anexo A (Formulario 1040) Publicación 550, en inglés. How to file 2012 tax return late intereses comerciales deducibles (no agrícolas) Anexo C o C-EZ (Formulario 1040) Publicación 535, en inglés. How to file 2012 tax return late intereses deducibles de negocio agrícola Anexo F (Formulario 1040) Publicaciones 225 y 535, en inglés. How to file 2012 tax return late intereses deducibles en los que se haya incurrido para generar alquileres o regalías Anexo E (Formulario 1040) Publicaciones 527 y 535, en inglés. How to file 2012 tax return late intereses personales no deducibles. How to file 2012 tax return late Intereses y puntos de una hipoteca de vivienda. How to file 2012 tax return late   Deduzca los intereses y puntos de una hipoteca de vivienda que le sean declarados a usted en el Formulario 1098, anotándolos en la línea 10 del Anexo A (Formulario 1040). How to file 2012 tax return late Si usted le pagó a la institución financiera más intereses deducibles que la cantidad que aparece en el Formulario 1098, anote la cantidad deducible que sea mayor en la línea 10. How to file 2012 tax return late Adjunte un documento escrito explicando la diferencia y escriba “See attached” (Vea el documento adjunto) en letra de molde al lado de la línea 10. How to file 2012 tax return late    En el caso de los intereses hipotecarios de vivienda que no se le declararon a usted en el Formulario 1098, dedúzcalos en la línea 11 del Anexo A (Formulario 1040). How to file 2012 tax return late Si le pagó intereses hipotecarios de vivienda a la persona a la cual le compró su vivienda, anote el nombre, dirección y número de identificación del contribuyente (TIN, por sus siglas en inglés) de dicha persona en la línea de puntos al lado de la línea 11. How to file 2012 tax return late El vendedor tiene que darle a usted este número y usted tiene que darle al vendedor su número de identificación del contribuyente. How to file 2012 tax return late Para este fin, puede utilizar el Formulario W-9(SP), Solicitud y Certificación del Número de Identificación del Contribuyente (o el Formulario W-9, en inglés). How to file 2012 tax return late La falta de cumplimiento de alguno de estos requisitos podría resultar en una multa de $50 por cada incumplimiento. How to file 2012 tax return late El TIN puede ser un número de Seguro Social, un número de identificación de contribuyente individual (emitido por el IRS) o un número de identificación del empleador. How to file 2012 tax return late Vea Número de Seguro Social , en el capítulo 1, para más información sobre los TIN. How to file 2012 tax return late    Si puede declarar una deducción por puntos que no le fueron comunicados en el Formulario 1098, deduzca esos puntos en la línea 12 del Anexo A (Formulario 1040). How to file 2012 tax return late    Deduzca primas de seguro hipotecario en la línea 13 del Anexo A (Formulario 1040). How to file 2012 tax return late Más de un prestatario. How to file 2012 tax return late   Si usted y por lo menos otra persona (que no sea su cónyuge, si presenta una declaración conjunta) eran responsables de pagar, y pagaron, los intereses de una hipoteca para su vivienda, y la otra persona recibió un Formulario 1098 mostrando los intereses pagados durante el año, adjunte un documento escrito a su declaración de impuestos explicándolo. How to file 2012 tax return late Anote la cantidad de los intereses que cada uno pagó y dé el nombre y la dirección de la persona que recibió el formulario. How to file 2012 tax return late Deduzca su parte de los intereses en la línea 11 del Anexo A (Formulario 1040) y escriba “ See attached ” (Vea el documento adjunto) en letra de molde al lado de esta línea. How to file 2012 tax return late Además, deduzca su parte de toda prima de seguro hipotecario en la línea 13 del Anexo A (Formulario 1040). How to file 2012 tax return late   Del mismo modo, si es el pagador oficial de una hipoteca sobre la cual hay otros prestatarios con derecho a una deducción por los intereses que aparecen en el Formulario 1098 que recibió, deduzca únicamente su parte de los intereses en la línea 10 del Anexo A (Formulario 1040). How to file 2012 tax return late Usted debe comunicarles a los demás prestatarios qué participación en los intereses tiene cada uno. How to file 2012 tax return late Fondos procedentes de una hipoteca utilizados para negocios o inversiones. How to file 2012 tax return late    Si su deducción por intereses hipotecarios de vivienda es limitada pero la totalidad o una parte de los fondos procedentes de la hipoteca se utilizaron para fines comerciales, de inversión o para otras actividades deducibles, vea la Tabla 23-1 . How to file 2012 tax return late La misma indica dónde deducir las partes de los intereses en exceso que correspondan a esas actividades. How to file 2012 tax return late Intereses de inversión. How to file 2012 tax return late    Deduzca los intereses de inversión, sujetos a ciertos límites explicados en la Publicación 550, en inglés, anotándolos en la línea 14 del Anexo A (Formulario 1040). How to file 2012 tax return late Amortización de primas sobre bonos. How to file 2012 tax return late   Hay varias maneras de tratar las primas que se pagan para comprar bonos tributables. How to file 2012 tax return late Vea Bond Premium Amortization (Amortización de Primas sobre Bonos) en la Publicación 550, en inglés. How to file 2012 tax return late Intereses por regalías o de alquiler que generen ingresos. How to file 2012 tax return late   Deduzca en la Parte I del Anexo E (Formulario 1040) los intereses sobre un préstamo para bienes de alquiler que generen ingresos o bienes que generen regalías y que no se usen en un negocio. How to file 2012 tax return late Ejemplo. How to file 2012 tax return late Usted alquila una parte de su vivienda y saca un préstamo para hacer reparaciones. How to file 2012 tax return late Puede deducir sólo el pago de intereses de la parte alquilada anotándolo en la Parte I del Anexo E (Formulario 1040). How to file 2012 tax return late Deduzca el resto del pago de intereses en el Anexo A (Formulario 1040) si son intereses hipotecarios de vivienda deducibles. 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How to file 2012 tax return late 26. How to file 2012 tax return late   Car Expenses and Other Employee Business Expenses Table of Contents What's New Introduction Useful Items - You may want to see: Travel ExpensesTraveling Away From Home Tax Home Temporary Assignment or Job What Travel Expenses Are Deductible? Travel in the United States Travel Outside the United States Conventions Entertainment Expenses50% Limit What Entertainment Expenses Are Deductible? What Entertainment Expenses Are Not Deductible? Gift Expenses Transportation ExpensesArmed Forces reservists. How to file 2012 tax return late Parking fees. How to file 2012 tax return late Advertising display on car. How to file 2012 tax return late Car pools. How to file 2012 tax return late Hauling tools or instruments. How to file 2012 tax return late Union members' trips from a union hall. How to file 2012 tax return late Car Expenses RecordkeepingHow To Prove Expenses How Long To Keep Records and Receipts How To ReportGifts. How to file 2012 tax return late Statutory employees. How to file 2012 tax return late Reimbursements Completing Forms 2106 and 2106-EZ Special Rules What's New Standard mileage rate. How to file 2012 tax return late  For 2013, the standard mileage rate for the cost of operating your car for business use is 56½ cents per mile. How to file 2012 tax return late Car expenses and use of the standard mileage rate are explained under Transportation Expenses , later. How to file 2012 tax return late Depreciation limits on cars, trucks, and vans. How to file 2012 tax return late  For 2013, the first-year limit on the total section 179 deduction, special depreciation allowance, and depreciation deduction for cars remains at $11,160 ($3,160 if you elect not to claim the special depreciation allowance). How to file 2012 tax return late For trucks and vans the first-year limit remains at $11,360 ($3,360 if you elect not to claim the special depreciation allowance). How to file 2012 tax return late For more information, see Depreciation limits in Publication 463. How to file 2012 tax return late Introduction You may be able to deduct the ordinary and necessary business-related expenses you have for: Travel, Entertainment, Gifts, or Transportation. How to file 2012 tax return late An ordinary expense is one that is common and accepted in your trade or business. How to file 2012 tax return late A necessary expense is one that is helpful and appropriate for your business. How to file 2012 tax return late An expense does not have to be required to be considered necessary. How to file 2012 tax return late This chapter explains the following. How to file 2012 tax return late What expenses are deductible. How to file 2012 tax return late How to report your expenses on your return. How to file 2012 tax return late What records you need to prove your expenses. How to file 2012 tax return late How to treat any expense reimbursements you may receive. How to file 2012 tax return late Who does not need to use this chapter. How to file 2012 tax return late   If you are an employee, you will not need to read this chapter if all of the following are true. How to file 2012 tax return late You fully accounted to your employer for your work-related expenses. How to file 2012 tax return late You received full reimbursement for your expenses. How to file 2012 tax return late Your employer required you to return any excess reimbursement and you did so. How to file 2012 tax return late There is no amount shown with a code “L” in box 12 of your Form W-2, Wage and Tax Statement. How to file 2012 tax return late If you meet all of these conditions, there is no need to show the expenses or the reimbursements on your return. How to file 2012 tax return late See Reimbursements , later, if you would like more information on reimbursements and accounting to your employer. How to file 2012 tax return late    If you meet these conditions and your employer included reimbursements on your Form W-2 in error, ask your employer for a corrected Form W-2. How to file 2012 tax return late Useful Items - You may want to see: Publication 463 Travel, Entertainment, Gift, and Car Expenses 535 Business Expenses Form (and Instructions) Schedule A (Form 1040) Itemized Deductions Schedule C (Form 1040) Profit or Loss From Business Schedule C-EZ (Form 1040) Net Profit From Business Schedule F (Form 1040) Profit or Loss From Farming Form 2106 Employee Business Expenses Form 2106-EZ Unreimbursed Employee Business Expenses Travel Expenses If you temporarily travel away from your tax home, you can use this section to determine if you have deductible travel expenses. How to file 2012 tax return late This section discusses: Traveling away from home, Tax home, Temporary assignment or job, and What travel expenses are deductible. How to file 2012 tax return late It also discusses the standard meal allowance, rules for travel inside and outside the United States, and deductible convention expenses. How to file 2012 tax return late Travel expenses defined. How to file 2012 tax return late   For tax purposes, travel expenses are the ordinary and necessary expenses (defined earlier) of traveling away from home for your business, profession, or job. How to file 2012 tax return late   You will find examples of deductible travel expenses in Table 26-1 . How to file 2012 tax return late Traveling Away From Home You are traveling away from home if: Your duties require you to be away from the general area of your tax home (defined later) substantially longer than an ordinary day's work, and You need to sleep or rest to meet the demands of your work while away from home. How to file 2012 tax return late This rest requirement is not satisfied by merely napping in your car. How to file 2012 tax return late You do not have to be away from your tax home for a whole day or from dusk to dawn as long as your relief from duty is long enough to get necessary sleep or rest. How to file 2012 tax return late Example 1. How to file 2012 tax return late You are a railroad conductor. How to file 2012 tax return late You leave your home terminal on a regularly scheduled round-trip run between two cities and return home 16 hours later. How to file 2012 tax return late During the run, you have 6 hours off at your turnaround point where you eat two meals and rent a hotel room to get necessary sleep before starting the return trip. How to file 2012 tax return late You are considered to be away from home. How to file 2012 tax return late Example 2. How to file 2012 tax return late You are a truck driver. How to file 2012 tax return late You leave your terminal and return to it later the same day. How to file 2012 tax return late You get an hour off at your turnaround point to eat. How to file 2012 tax return late Because you are not off to get necessary sleep and the brief time off is not an adequate rest period, you are not traveling away from home. How to file 2012 tax return late Members of the Armed Forces. How to file 2012 tax return late   If you are a member of the U. How to file 2012 tax return late S. How to file 2012 tax return late Armed Forces on a permanent duty assignment overseas, you are not traveling away from home. How to file 2012 tax return late You cannot deduct your expenses for meals and lodging. How to file 2012 tax return late You cannot deduct these expenses even if you have to maintain a home in the United States for your family members who are not allowed to accompany you overseas. How to file 2012 tax return late If you are transferred from one permanent duty station to another, you may have deductible moving expenses, which are explained in Publication 521, Moving Expenses. How to file 2012 tax return late    A naval officer assigned to permanent duty aboard a ship that has regular eating and living facilities has a tax home aboard ship for travel expense purposes. How to file 2012 tax return late Tax Home To determine whether you are traveling away from home, you must first determine the location of your tax home. How to file 2012 tax return late Generally, your tax home is your regular place of business or post of duty, regardless of where you maintain your family home. How to file 2012 tax return late It includes the entire city or general area in which your business or work is located. How to file 2012 tax return late If you have more than one regular place of business, your tax home is your main place of business. How to file 2012 tax return late See Main place of business or work , later. How to file 2012 tax return late If you do not have a regular or a main place of business because of the nature of your work, then your tax home may be the place where you regularly live. How to file 2012 tax return late See No main place of business or work , later. How to file 2012 tax return late If you do not have a regular or a main place of business or post of duty and there is no place where you regularly live, you are considered an itinerant (a transient) and your tax home is wherever you work. How to file 2012 tax return late As an itinerant, you cannot claim a travel expense deduction because you are never considered to be traveling away from home. How to file 2012 tax return late Main place of business or work. How to file 2012 tax return late   If you have more than one place of business or work, consider the following when determining which one is your main place of business or work. How to file 2012 tax return late The total time you ordinarily spend in each place. How to file 2012 tax return late The level of your business activity in each place. How to file 2012 tax return late Whether your income from each place is significant or insignificant. How to file 2012 tax return late Example. How to file 2012 tax return late You live in Cincinnati where you have a seasonal job for 8 months each year and earn $40,000. How to file 2012 tax return late You work the other 4 months in Miami, also at a seasonal job, and earn $15,000. How to file 2012 tax return late Cincinnati is your main place of work because you spend most of your time there and earn most of your income there. How to file 2012 tax return late No main place of business or work. How to file 2012 tax return late   You may have a tax home even if you do not have a regular or main place of business or work. How to file 2012 tax return late Your tax home may be the home where you regularly live. How to file 2012 tax return late Factors used to determine tax home. How to file 2012 tax return late   If you do not have a regular or main place of business or work, use the following three factors to determine where your tax home is. How to file 2012 tax return late You perform part of your business in the area of your main home and use that home for lodging while doing business in the area. How to file 2012 tax return late You have living expenses at your main home that you duplicate because your business requires you to be away from that home. How to file 2012 tax return late You have not abandoned the area in which both your historical place of lodging and your claimed main home are located; you have a member or members of your family living at your main home; or you often use that home for lodging. How to file 2012 tax return late   If you satisfy all three factors, your tax home is the home where you regularly live. How to file 2012 tax return late If you satisfy only two factors, you may have a tax home depending on all the facts and circumstances. How to file 2012 tax return late If you satisfy only one factor, you are an itinerant; your tax home is wherever you work and you cannot deduct travel expenses. How to file 2012 tax return late Example. How to file 2012 tax return late You are single and live in Boston in an apartment you rent. How to file 2012 tax return late You have worked for your employer in Boston for a number of years. How to file 2012 tax return late Your employer enrolls you in a 12-month executive training program. How to file 2012 tax return late You do not expect to return to work in Boston after you complete your training. How to file 2012 tax return late During your training, you do not do any work in Boston. How to file 2012 tax return late Instead, you receive classroom and on-the-job training throughout the United States. How to file 2012 tax return late You keep your apartment in Boston and return to it frequently. How to file 2012 tax return late You use your apartment to conduct your personal business. How to file 2012 tax return late You also keep up your community contacts in Boston. How to file 2012 tax return late When you complete your training, you are transferred to Los Angeles. How to file 2012 tax return late You do not satisfy factor (1) because you did not work in Boston. How to file 2012 tax return late You satisfy factor (2) because you had duplicate living expenses. How to file 2012 tax return late You also satisfy factor (3) because you did not abandon your apartment in Boston as your main home, you kept your community contacts, and you frequently returned to live in your apartment. How to file 2012 tax return late Therefore, you have a tax home in Boston. How to file 2012 tax return late Tax home different from family home. How to file 2012 tax return late   If you (and your family) do not live at your tax home (defined earlier), you cannot deduct the cost of traveling between your tax home and your family home. How to file 2012 tax return late You also cannot deduct the cost of meals and lodging while at your tax home. How to file 2012 tax return late See Example 1 . How to file 2012 tax return late   If you are working temporarily in the same city where you and your family live, you may be considered as traveling away from home. How to file 2012 tax return late See Example 2 . How to file 2012 tax return late Example 1. How to file 2012 tax return late You are a truck driver and you and your family live in Tucson. How to file 2012 tax return late You are employed by a trucking firm that has its terminal in Phoenix. How to file 2012 tax return late At the end of your long runs, you return to your home terminal in Phoenix and spend one night there before returning home. How to file 2012 tax return late You cannot deduct any expenses you have for meals and lodging in Phoenix or the cost of traveling from Phoenix to Tucson. How to file 2012 tax return late This is because Phoenix is your tax home. How to file 2012 tax return late Example 2. How to file 2012 tax return late Your family home is in Pittsburgh, where you work 12 weeks a year. How to file 2012 tax return late The rest of the year you work for the same employer in Baltimore. How to file 2012 tax return late In Baltimore, you eat in restaurants and sleep in a rooming house. How to file 2012 tax return late Your salary is the same whether you are in Pittsburgh or Baltimore. How to file 2012 tax return late Because you spend most of your working time and earn most of your salary in Baltimore, that city is your tax home. How to file 2012 tax return late You cannot deduct any expenses you have for meals and lodging there. How to file 2012 tax return late However, when you return to work in Pittsburgh, you are away from your tax home even though you stay at your family home. How to file 2012 tax return late You can deduct the cost of your round trip between Baltimore and Pittsburgh. How to file 2012 tax return late You can also deduct your part of your family's living expenses for meals and lodging while you are living and working in Pittsburgh. How to file 2012 tax return late Temporary Assignment or Job You may regularly work at your tax home and also work at another location. How to file 2012 tax return late It may not be practical to return to your tax home from this other location at the end of each work day. How to file 2012 tax return late Temporary assignment vs. How to file 2012 tax return late indefinite assignment. How to file 2012 tax return late   If your assignment or job away from your main place of work is temporary, your tax home does not change. How to file 2012 tax return late You are considered to be away from home for the whole period you are away from your main place of work. How to file 2012 tax return late You can deduct your travel expenses if they otherwise qualify for deduction. How to file 2012 tax return late Generally, a temporary assignment in a single location is one that is realistically expected to last (and does in fact last) for 1 year or less. How to file 2012 tax return late   However, if your assignment or job is indefinite, the location of the assignment or job becomes your new tax home and you cannot deduct your travel expenses while there. How to file 2012 tax return late An assignment or job in a single location is considered indefinite if it is realistically expected to last for more than 1 year, whether or not it actually lasts for more than 1 year. How to file 2012 tax return late   If your assignment is indefinite, you must include in your income any amounts you receive from your employer for living expenses, even if they are called travel allowances and you account to your employer for them. How to file 2012 tax return late You may be able to deduct the cost of relocating to your new tax home as a moving expense. How to file 2012 tax return late See Publication 521 for more information. How to file 2012 tax return late Exception for federal crime investigations or prosecutions. How to file 2012 tax return late   If you are a federal employee participating in a federal crime investigation or prosecution, you are not subject to the 1-year rule. How to file 2012 tax return late This means you may be able to deduct travel expenses even if you are away from your tax home for more than 1 year, provided you meet the other requirements for deductibility. How to file 2012 tax return late   For you to qualify, the Attorney General (or his or her designee) must certify that you are traveling: For the federal government, In a temporary duty status, and To investigate or prosecute, or provide support services for the investigation or prosecution of a federal crime. How to file 2012 tax return late Determining temporary or indefinite. How to file 2012 tax return late   You must determine whether your assignment is temporary or indefinite when you start work. How to file 2012 tax return late If you expect an assignment or job to last for 1 year or less, it is temporary unless there are facts and circumstances that indicate otherwise. How to file 2012 tax return late An assignment or job that is initially temporary may become indefinite due to changed circumstances. How to file 2012 tax return late A series of assignments to the same location, all for short periods but that together cover a long period, may be considered an indefinite assignment. How to file 2012 tax return late Going home on days off. How to file 2012 tax return late   If you go back to your tax home from a temporary assignment on your days off, you are not considered away from home while you are in your hometown. How to file 2012 tax return late You cannot deduct the cost of your meals and lodging there. How to file 2012 tax return late However, you can deduct your travel expenses, including meals and lodging, while traveling between your temporary place of work and your tax home. How to file 2012 tax return late You can claim these expenses up to the amount it would have cost you to stay at your temporary place of work. How to file 2012 tax return late   If you keep your hotel room during your visit home, you can deduct the cost of your hotel room. How to file 2012 tax return late In addition, you can deduct your expenses of returning home up to the amount you would have spent for meals had you stayed at your temporary place of work. How to file 2012 tax return late Probationary work period. How to file 2012 tax return late   If you take a job that requires you to move, with the understanding that you will keep the job if your work is satisfactory during a probationary period, the job is indefinite. How to file 2012 tax return late You cannot deduct any of your expenses for meals and lodging during the probationary period. How to file 2012 tax return late What Travel Expenses Are Deductible? Once you have determined that you are traveling away from your tax home, you can determine what travel expenses are deductible. How to file 2012 tax return late You can deduct ordinary and necessary expenses you have when you travel away from home on business. How to file 2012 tax return late The type of expense you can deduct depends on the facts and your circumstances. How to file 2012 tax return late Table 26-1 summarizes travel expenses you may be able to deduct. How to file 2012 tax return late You may have other deductible travel expenses that are not covered there, depending on the facts and your circumstances. How to file 2012 tax return late When you travel away from home on business, you should keep records of all the expenses you have and any advances you receive from your employer. How to file 2012 tax return late You can use a log, diary, notebook, or any other written record to keep track of your expenses. How to file 2012 tax return late The types of expenses you need to record, along with supporting documentation, are described in Table 26-2 , later. How to file 2012 tax return late Separating costs. How to file 2012 tax return late   If you have one expense that includes the costs of meals, entertainment, and other services (such as lodging or transportation), you must allocate that expense between the cost of meals and entertainment and the cost of other services. How to file 2012 tax return late You must have a reasonable basis for making this allocation. How to file 2012 tax return late For example, you must allocate your expenses if a hotel includes one or more meals in its room charge. How to file 2012 tax return late Travel expenses for another individual. How to file 2012 tax return late   If a spouse, dependent, or other individual goes with you (or your employee) on a business trip or to a business convention, you generally cannot deduct his or her travel expenses. How to file 2012 tax return late Employee. How to file 2012 tax return late   You can deduct the travel expenses of someone who goes with you if that person: Is your employee, Has a bona fide business purpose for the travel, and Would otherwise be allowed to deduct the travel expenses. How to file 2012 tax return late Business associate. How to file 2012 tax return late   If a business associate travels with you and meets the conditions in (2) and (3) above, you can deduct the travel expenses you have for that person. How to file 2012 tax return late A business associate is someone with whom you could reasonably expect to engage or deal in the active conduct of your business. How to file 2012 tax return late A business associate can be a current or prospective (likely to become) customer, client, supplier, employee, agent, partner, or professional advisor. How to file 2012 tax return late Bona fide business purpose. How to file 2012 tax return late   A bona fide business purpose exists if you can prove a real business purpose for the individual's presence. How to file 2012 tax return late Incidental services, such as typing notes or assisting in entertaining customers, are not enough to make the expenses deductible. How to file 2012 tax return late Example. How to file 2012 tax return late Jerry drives to Chicago on business and takes his wife, Linda, with him. How to file 2012 tax return late Linda is not Jerry's employee. How to file 2012 tax return late Linda occasionally types notes, performs similar services, and accompanies Jerry to luncheons and dinners. How to file 2012 tax return late The performance of these services does not establish that her presence on the trip is necessary to the conduct of Jerry's business. How to file 2012 tax return late Her expenses are not deductible. How to file 2012 tax return late Jerry pays $199 a day for a double room. How to file 2012 tax return late A single room costs $149 a day. How to file 2012 tax return late He can deduct the total cost of driving his car to and from Chicago, but only $149 a day for his hotel room. How to file 2012 tax return late If he uses public transportation, he can deduct only his fare. How to file 2012 tax return late Table 26-1. How to file 2012 tax return late Travel Expenses You Can Deduct This chart summarizes expenses you can deduct when you travel away from home for business purposes. How to file 2012 tax return late IF you have expenses for. How to file 2012 tax return late . How to file 2012 tax return late . How to file 2012 tax return late THEN you can deduct the cost of. How to file 2012 tax return late . How to file 2012 tax return late . How to file 2012 tax return late transportation travel by airplane, train, bus, or car between your home and your business destination. How to file 2012 tax return late If you were provided with a ticket or you are riding free as a result of a frequent traveler or similar program, your cost is zero. How to file 2012 tax return late If you travel by ship, see Luxury Water Travel and Cruise ships (under Conventions) in Publication 463 for additional rules and limits. How to file 2012 tax return late taxi, commuter bus, and airport limousine fares for these and other types of transportation that take you between: The airport or station and your hotel, and The hotel and the work location of your customers or clients, your business meeting place, or your temporary work location. How to file 2012 tax return late baggage and shipping sending baggage and sample or display material between your regular and temporary work locations. How to file 2012 tax return late car operating and maintaining your car when traveling away from home on business. How to file 2012 tax return late You can deduct actual expenses or the standard mileage rate as well as business-related tolls and parking. How to file 2012 tax return late If you rent a car while away from home on business, you can deduct only the business-use portion of the expenses. How to file 2012 tax return late lodging and meals your lodging and meals if your business trip is overnight or long enough that you need to stop for sleep or rest to properly perform your duties. How to file 2012 tax return late Meals include amounts spent for food, beverages, taxes, and related tips. How to file 2012 tax return late See Meals and Incidental Expenses for additional rules and limits. How to file 2012 tax return late cleaning dry cleaning and laundry. How to file 2012 tax return late telephone business calls while on your business trip. How to file 2012 tax return late This includes business communication by fax machine or other communication devices. How to file 2012 tax return late tips tips you pay for any expenses in this chart. How to file 2012 tax return late other other similar ordinary and necessary expenses related to your business travel. How to file 2012 tax return late These expenses might include transportation to or from a business meal, public stenographer's fees, computer rental fees, and operating and maintaining a house trailer. How to file 2012 tax return late Meals and Incidental Expenses You can deduct the cost of meals in either of the following situations. How to file 2012 tax return late It is necessary for you to stop for substantial sleep or rest to properly perform your duties while traveling away from home on business. How to file 2012 tax return late The meal is business-related entertainment. How to file 2012 tax return late Business-related entertainment is discussed under Entertainment Expenses , later. How to file 2012 tax return late The following discussion deals only with meals (and incidental expenses) that are not business-related entertainment. How to file 2012 tax return late Lavish or extravagant. How to file 2012 tax return late   You cannot deduct expenses for meals that are lavish or extravagant. How to file 2012 tax return late An expense is not considered lavish or extravagant if it is reasonable based on the facts and circumstances. How to file 2012 tax return late Expenses will not be disallowed merely because they are more than a fixed dollar amount or take place at deluxe restaurants, hotels, nightclubs, or resorts. How to file 2012 tax return late 50% limit on meals. How to file 2012 tax return late   You can figure your meal expenses using either of the following methods. How to file 2012 tax return late Actual cost. How to file 2012 tax return late The standard meal allowance. How to file 2012 tax return late Both of these methods are explained below. How to file 2012 tax return late But, regardless of the method you use, you generally can deduct only 50% of the unreimbursed cost of your meals. How to file 2012 tax return late   If you are reimbursed for the cost of your meals, how you apply the 50% limit depends on whether your employer's reimbursement plan was accountable or nonaccountable. How to file 2012 tax return late If you are not reimbursed, the 50% limit applies whether the unreimbursed meal expense is for business travel or business entertainment. How to file 2012 tax return late The 50% limit is explained later under Entertainment Expenses . How to file 2012 tax return late Accountable and nonaccountable plans are discussed later under Reimbursements . How to file 2012 tax return late Actual cost. How to file 2012 tax return late   You can use the actual cost of your meals to figure the amount of your expense before reimbursement and application of the 50% deduction limit. How to file 2012 tax return late If you use this method, you must keep records of your actual cost. How to file 2012 tax return late Standard meal allowance. How to file 2012 tax return late   Generally, you can use the “standard meal allowance” method as an alternative to the actual cost method. How to file 2012 tax return late It allows you to use a set amount for your daily meals and incidental expenses (M&IE), instead of keeping records of your actual costs. How to file 2012 tax return late The set amount varies depending on where and when you travel. How to file 2012 tax return late In this chapter, “standard meal allowance” refers to the federal rate for M&IE, discussed later under Amount of standard meal allowance . How to file 2012 tax return late If you use the standard meal allowance, you still must keep records to prove the time, place, and business purpose of your travel. How to file 2012 tax return late See Recordkeeping , later. How to file 2012 tax return late Incidental expenses. How to file 2012 tax return late   The term “incidental expenses” means fees and tips given to porters, baggage carriers, hotel staff, and staff on ships. How to file 2012 tax return late Incidental expenses do not include expenses for laundry, cleaning and pressing of clothing, lodging taxes, costs of telegrams or telephone calls, transportation between places of lodging or business and places where meals are taken, or the mailing cost of filing travel vouchers and paying employer-sponsored charge card billings. How to file 2012 tax return late Incidental expenses only method. How to file 2012 tax return late   You can use an optional method (instead of actual cost) for deducting incidental expenses only. How to file 2012 tax return late The amount of the deduction is $5 a day. How to file 2012 tax return late You can use this method only if you did not pay or incur any meal expenses. How to file 2012 tax return late You cannot use this method on any day that you use the standard meal allowance. How to file 2012 tax return late    Federal employees should refer to the Federal Travel Regulations at  www. How to file 2012 tax return late gsa. How to file 2012 tax return late gov. How to file 2012 tax return late Find “What GSA Offers” and click on “Regulations: FMR, FTR, & FAR” for Federal Travel Regulation (FTR) for changes affecting claims for reimbursement. How to file 2012 tax return late 50% limit may apply. How to file 2012 tax return late   If you use the standard meal allowance method for meal expenses and you are not reimbursed or you are reimbursed under a nonaccountable plan, you can generally deduct only 50% of the standard meal allowance. How to file 2012 tax return late If you are reimbursed under an accountable plan and you are deducting amounts that are more than your reimbursements, you can deduct only 50% of the excess amount. How to file 2012 tax return late The 50% limit is explained later under Entertainment Expenses . How to file 2012 tax return late Accountable and nonaccountable plans are discussed later under Reimbursements . How to file 2012 tax return late There is no optional standard lodging amount similar to the standard meal allowance. How to file 2012 tax return late Your allowable lodging expense deduction is your actual cost. How to file 2012 tax return late Who can use the standard meal allowance. How to file 2012 tax return late   You can use the standard meal allowance whether you are an employee or self-employed, and whether or not you are reimbursed for your traveling expenses. How to file 2012 tax return late   Use of the standard meal allowance for other travel. How to file 2012 tax return late    You can use the standard meal allowance to figure your meal expenses when you travel in connection with investment and other income-producing property. How to file 2012 tax return late You can also use it to figure your meal expenses when you travel for qualifying educational purposes. How to file 2012 tax return late You cannot use the standard meal allowance to figure the cost of your meals when you travel for medical or charitable purposes. How to file 2012 tax return late Amount of standard meal allowance. How to file 2012 tax return late   The standard meal allowance is the federal M&IE rate. How to file 2012 tax return late For travel in 2013, the daily rate for most small localities in the United States is $46. How to file 2012 tax return late   Most major cities and many other localities in the United States are designated as high-cost areas, qualifying for higher standard meal allowances. How to file 2012 tax return late You can find this information (organized by state) on the Internet at www. How to file 2012 tax return late gsa. How to file 2012 tax return late gov. How to file 2012 tax return late Click on “Per Diem Rates,” then select “2013” for the period January 1, 2013 – September 30, 2013, and select “2014” for the period October 1, 2013 – December 31, 2013. How to file 2012 tax return late However, you can apply the rates in effect before October 1, 2013, for expenses of all travel within the United States for 2013 instead of the updated rates. How to file 2012 tax return late You must consistently use either the rates for the first 9 months for all of 2013 or the updated rates for the period of October 1, 2013, through December 31, 2013. How to file 2012 tax return late   If you travel to more than one location in one day, use the rate in effect for the area where you stop for sleep or rest. How to file 2012 tax return late If you work in the transportation industry, however, see Special rate for transportation workers , later. How to file 2012 tax return late Standard meal allowance for areas outside the continental United States. How to file 2012 tax return late    The standard meal allowance rates above do not apply to travel in Alaska, Hawaii, or any other location outside the continental United States. How to file 2012 tax return late The Department of Defense establishes per diem rates for Alaska, Hawaii, Puerto Rico, American Samoa, Guam, Midway, the Northern Mariana Islands, the U. How to file 2012 tax return late S. How to file 2012 tax return late Virgin Islands, Wake Island, and other non-foreign areas outside the continental United States. How to file 2012 tax return late The Department of State establishes per diem rates for all other foreign areas. How to file 2012 tax return late    You can access per diem rates for non-foreign areas outside the continental United States at: www. How to file 2012 tax return late defensetravel. How to file 2012 tax return late dod. How to file 2012 tax return late mil/site/perdiemCalc. How to file 2012 tax return late cfm. How to file 2012 tax return late You can access all other foreign per diem rates at www. How to file 2012 tax return late state. How to file 2012 tax return late gov/travel/. How to file 2012 tax return late Click on “Travel Per Diem Allowances for Foreign Areas” under “Foreign Per Diem Rates,” to obtain the latest foreign per diem rates. How to file 2012 tax return late Special rate for transportation workers. How to file 2012 tax return late   You can use a special standard meal allowance if you work in the transportation industry. How to file 2012 tax return late You are in the transportation industry if your work: Directly involves moving people or goods by airplane, barge, bus, ship, train, or truck, and Regularly requires you to travel away from home and, during any single trip, usually involves travel to areas eligible for different standard meal allowance rates. How to file 2012 tax return late If this applies to you, you can claim a standard daily meal allowance of $59 ($65 for travel outside the continental United States). How to file 2012 tax return late   Using the special rate for transportation workers eliminates the need for you to determine the standard meal allowance for every area where you stop for sleep or rest. How to file 2012 tax return late If you choose to use the special rate for any trip, you must use the special rate (and not use the regular standard meal allowance rates) for all trips you take that year. How to file 2012 tax return late Travel for days you depart and return. How to file 2012 tax return late   For both the day you depart for and the day you return from a business trip, you must prorate the standard meal allowance (figure a reduced amount for each day). How to file 2012 tax return late You can do so by one of two methods. How to file 2012 tax return late Method 1: You can claim 3/4 of the standard meal allowance. How to file 2012 tax return late Method 2: You can prorate using any method that you consistently apply and that is in accordance with reasonable business practice. How to file 2012 tax return late Example. How to file 2012 tax return late Jen is employed in New Orleans as a convention planner. How to file 2012 tax return late In March, her employer sent her on a 3-day trip to Washington, DC, to attend a planning seminar. How to file 2012 tax return late She left her home in New Orleans at 10 a. How to file 2012 tax return late m. How to file 2012 tax return late on Wednesday and arrived in Washington, DC, at 5:30 p. How to file 2012 tax return late m. How to file 2012 tax return late After spending two nights there, she flew back to New Orleans on Friday and arrived back home at 8:00 p. How to file 2012 tax return late m. How to file 2012 tax return late Jen's employer gave her a flat amount to cover her expenses and included it with her wages. How to file 2012 tax return late Under Method 1, Jen can claim 2½ days of the standard meal allowance for Washington, DC: 3/4 of the daily rate for Wednesday and Friday (the days she departed and returned), and the full daily rate for Thursday. How to file 2012 tax return late Under Method 2, Jen could also use any method that she applies consistently and that is in accordance with reasonable business practice. How to file 2012 tax return late For example, she could claim 3 days of the standard meal allowance even though a federal employee would have to use Method 1 and be limited to only 2½ days. How to file 2012 tax return late Travel in the United States The following discussion applies to travel in the United States. How to file 2012 tax return late For this purpose, the United States includes only the 50 states and the District of Columbia. How to file 2012 tax return late The treatment of your travel expenses depends on how much of your trip was business related and on how much of your trip occurred within the United States. How to file 2012 tax return late See Part of Trip Outside the United States , later. How to file 2012 tax return late Trip Primarily for Business You can deduct all your travel expenses if your trip was entirely business related. How to file 2012 tax return late If your trip was primarily for business and, while at your business destination, you extended your stay for a vacation, made a personal side trip, or had other personal activities, you can deduct your business-related travel expenses. How to file 2012 tax return late These expenses include the travel costs of getting to and from your business destination and any business-related expenses at your business destination. How to file 2012 tax return late Example. How to file 2012 tax return late You work in Atlanta and take a business trip to New Orleans in May. How to file 2012 tax return late On your way home, you stop in Mobile to visit your parents. How to file 2012 tax return late You spend $1,996 for the 9 days you are away from home for travel, meals, lodging, and other travel expenses. How to file 2012 tax return late If you had not stopped in Mobile, you would have been gone only 6 days, and your total cost would have been $1,696. How to file 2012 tax return late You can deduct $1,696 for your trip, including the cost of round-trip transportation to and from New Orleans. How to file 2012 tax return late The deduction for your meals is subject to the 50% limit on meals mentioned earlier. How to file 2012 tax return late Trip Primarily for Personal Reasons If your trip was primarily for personal reasons, such as a vacation, the entire cost of the trip is a nondeductible personal expense. How to file 2012 tax return late However, you can deduct any expenses you have while at your destination that are directly related to your business. How to file 2012 tax return late A trip to a resort or on a cruise ship may be a vacation even if the promoter advertises that it is primarily for business. How to file 2012 tax return late The scheduling of incidental business activities during a trip, such as viewing videotapes or attending lectures dealing with general subjects, will not change what is really a vacation into a business trip. How to file 2012 tax return late Part of Trip Outside the United States If part of your trip is outside the United States, use the rules described later under Travel Outside the United States for that part of the trip. How to file 2012 tax return late For the part of your trip that is inside the United States, use the rules for travel in the United States. How to file 2012 tax return late Travel outside the United States does not include travel from one point in the United States to another point in the United States. How to file 2012 tax return late The following discussion can help you determine whether your trip was entirely within the United States. How to file 2012 tax return late Public transportation. How to file 2012 tax return late   If you travel by public transportation, any place in the United States where that vehicle makes a scheduled stop is a point in the United States. How to file 2012 tax return late Once the vehicle leaves the last scheduled stop in the United States on its way to a point outside the United States, you apply the rules under Travel Outside the United States . How to file 2012 tax return late Example. How to file 2012 tax return late You fly from New York to Puerto Rico with a scheduled stop in Miami. How to file 2012 tax return late You return to New York nonstop. How to file 2012 tax return late The flight from New York to Miami is in the United States, so only the flight from Miami to Puerto Rico is outside the United States. How to file 2012 tax return late Because there are no scheduled stops between Puerto Rico and New York, all of the return trip is outside the United States. How to file 2012 tax return late Private car. How to file 2012 tax return late   Travel by private car in the United States is travel between points in the United States, even when you are on your way to a destination outside the United States. How to file 2012 tax return late Example. How to file 2012 tax return late You travel by car from Denver to Mexico City and return. How to file 2012 tax return late Your travel from Denver to the border and from the border back to Denver is travel in the United States, and the rules in this section apply. How to file 2012 tax return late The rules under Travel Outside the United States apply to your trip from the border to Mexico City and back to the border. How to file 2012 tax return late Travel Outside the United States If any part of your business travel is outside the United States, some of your deductions for the cost of getting to and from your destination may be limited. How to file 2012 tax return late For this purpose, the United States includes only the 50 states and the District of Columbia. How to file 2012 tax return late How much of your travel expenses you can deduct depends in part upon how much of your trip outside the United States was business related. How to file 2012 tax return late See chapter 1 of Publication 463 for information on luxury water travel. How to file 2012 tax return late Travel Entirely for Business or Considered Entirely for Business You can deduct all your travel expenses of getting to and from your business destination if your trip is entirely for business or considered entirely for business. How to file 2012 tax return late Travel entirely for business. How to file 2012 tax return late   If you travel outside the United States and you spend the entire time on business activities, you can deduct all of your travel expenses. How to file 2012 tax return late Travel considered entirely for business. How to file 2012 tax return late   Even if you did not spend your entire time on business activities, your trip is considered entirely for business if you meet at least one of the following four exceptions. How to file 2012 tax return late Exception 1 - No substantial control. How to file 2012 tax return late   Your trip is considered entirely for business if you did not have substantial control over arranging the trip. How to file 2012 tax return late The fact that you control the timing of your trip does not, by itself, mean that you have substantial control over arranging your trip. How to file 2012 tax return late   You do not have substantial control over your trip if you: Are an employee who was reimbursed or paid a travel expense allowance, Are not related to your employer, and Are not a managing executive. How to file 2012 tax return late    “Related to your employer” is defined later in this chapter under Per Diem and Car Allowances . How to file 2012 tax return late   A “managing executive” is an employee who has the authority and responsibility, without being subject to the veto of another, to decide on the need for the business travel. How to file 2012 tax return late    A self-employed person generally has substantial control over arranging business trips. How to file 2012 tax return late Exception 2 - Outside United States no more than a week. How to file 2012 tax return late   Your trip is considered entirely for business if you were outside the United States for a week or less, combining business and nonbusiness activities. How to file 2012 tax return late One week means 7 consecutive days. How to file 2012 tax return late In counting the days, do not count the day you leave the United States, but do count the day you return to the United States. How to file 2012 tax return late Exception 3 - Less than 25% of time on personal activities. How to file 2012 tax return late   Your trip is considered entirely for business if: You were outside the United States for more than a week, and You spent less than 25% of the total time you were outside the United States on nonbusiness activities. How to file 2012 tax return late For this purpose, count both the day your trip began and the day it ended. How to file 2012 tax return late Exception 4 - Vacation not a major consideration. How to file 2012 tax return late   Your trip is considered entirely for business if you can establish that a personal vacation was not a major consideration, even if you have substantial control over arranging the trip. How to file 2012 tax return late Travel Primarily for Business If you travel outside the United States primarily for business but spend some of your time on nonbusiness activities, you generally cannot deduct all of your travel expenses. How to file 2012 tax return late You can only deduct the business portion of your cost of getting to and from your destination. How to file 2012 tax return late You must allocate the costs between your business and nonbusiness activities to determine your deductible amount. How to file 2012 tax return late These travel allocation rules are discussed in chapter 1 of Publication 463. How to file 2012 tax return late You do not have to allocate your travel expense deduction if you meet one of the four exceptions listed earlier under Travel considered entirely for business. How to file 2012 tax return late In those cases, you can deduct the total cost of getting to and from your destination. How to file 2012 tax return late Travel Primarily for Personal Reasons If you travel outside the United States primarily for vacation or for investment purposes, the entire cost of the trip is a nondeductible personal expense. How to file 2012 tax return late If you spend some time attending brief professional seminars or a continuing education program, you can deduct your registration fees and other expenses you have that are directly related to your business. How to file 2012 tax return late Conventions You can deduct your travel expenses when you attend a convention if you can show that your attendance benefits your trade or business. How to file 2012 tax return late You cannot deduct the travel expenses for your family. How to file 2012 tax return late If the convention is for investment, political, social, or other purposes unrelated to your trade or business, you cannot deduct the expenses. How to file 2012 tax return late Your appointment or election as a delegate does not, in itself, determine whether you can deduct travel expenses. How to file 2012 tax return late You can deduct your travel expenses only if your attendance is connected to your own trade or business. How to file 2012 tax return late Convention agenda. How to file 2012 tax return late   The convention agenda or program generally shows the purpose of the convention. How to file 2012 tax return late You can show your attendance at the convention benefits your trade or business by comparing the agenda with the official duties and responsibilities of your position. How to file 2012 tax return late The agenda does not have to deal specifically with your official duties and responsibilities; it will be enough if the agenda is so related to your position that it shows your attendance was for business purposes. How to file 2012 tax return late Conventions held outside the North American area. How to file 2012 tax return late    See chapter 1 of Publication 463 for information on conventions held outside the North American area. How to file 2012 tax return late Entertainment Expenses You may be able to deduct business-related entertainment expenses you have for entertaining a client, customer, or employee. How to file 2012 tax return late You can deduct entertainment expenses only if they are both ordinary and necessary (defined earlier in the Introduction ) and meet one of the following tests. How to file 2012 tax return late Directly-related test. How to file 2012 tax return late Associated test. How to file 2012 tax return late Both of these tests are explained in chapter 2 of Publication 463. How to file 2012 tax return late The amount you can deduct for entertainment expenses may be limited. How to file 2012 tax return late Generally, you can deduct only 50% of your unreimbursed entertainment expenses. How to file 2012 tax return late This limit is discussed next. How to file 2012 tax return late 50% Limit In general, you can deduct only 50% of your business-related meal and entertainment expenses. How to file 2012 tax return late (If you are subject to the Department of Transportation's “hours of service” limits, you can deduct 80% of your business-related meal and entertainment expenses. How to file 2012 tax return late See Individuals subject to “hours of service” limits , later. How to file 2012 tax return late ) The 50% limit applies to employees or their employers, and to self-employed persons (including independent contractors) or their clients, depending on whether the expenses are reimbursed. How to file 2012 tax return late Figure 26-A summarizes the general rules explained in this section. How to file 2012 tax return late The 50% limit applies to business meals or entertainment expenses you have while: Traveling away from home (whether eating alone or with others) on business, Entertaining customers at your place of business, a restaurant, or other location, or Attending a business convention or reception, business meeting, or business luncheon at a club. How to file 2012 tax return late Included expenses. How to file 2012 tax return late   Expenses subject to the 50% limit include: Taxes and tips relating to a business meal or entertainment activity, Cover charges for admission to a nightclub, Rent paid for a room in which you hold a dinner or cocktail party, and Amounts paid for parking at a sports arena. How to file 2012 tax return late However, the cost of transportation to and from a business meal or a business-related entertainment activity is not subject to the 50% limit. How to file 2012 tax return late Application of 50% limit. How to file 2012 tax return late   The 50% limit on meal and entertainment expenses applies if the expense is otherwise deductible and is not covered by one of the exceptions discussed later in this section. How to file 2012 tax return late   The 50% limit also applies to certain meal and entertainment expenses that are not business related. How to file 2012 tax return late It applies to meal and entertainment expenses incurred for the production of income, including rental or royalty income. How to file 2012 tax return late It also applies to the cost of meals included in deductible educational expenses. How to file 2012 tax return late When to apply the 50% limit. How to file 2012 tax return late   You apply the 50% limit after determining the amount that would otherwise qualify for a deduction. How to file 2012 tax return late You first have to determine the amount of meal and entertainment expenses that would be deductible under the other rules discussed in this chapter. How to file 2012 tax return late Example 1. How to file 2012 tax return late You spend $200 for a business-related meal. How to file 2012 tax return late If $110 of that amount is not allowable because it is lavish and extravagant, the remaining $90 is subject to the 50% limit. How to file 2012 tax return late Your deduction cannot be more than $45 (. How to file 2012 tax return late 50 × $90). How to file 2012 tax return late Example 2. How to file 2012 tax return late You purchase two tickets to a concert and give them to a client. How to file 2012 tax return late You purchased the tickets through a ticket agent. How to file 2012 tax return late You paid $200 for the two tickets, which had a face value of $80 each ($160 total). How to file 2012 tax return late Your deduction cannot be more than $80 (. How to file 2012 tax return late 50 × $160). How to file 2012 tax return late Exceptions to the 50% Limit Generally, business-related meal and entertainment expenses are subject to the 50% limit. How to file 2012 tax return late Figure 26-A can help you determine if the 50% limit applies to you. How to file 2012 tax return late Your meal or entertainment expense is not subject to the 50% limit if the expense meets one of the following exceptions. How to file 2012 tax return late Employee's reimbursed expenses. How to file 2012 tax return late   If you are an employee, you are not subject to the 50% limit on expenses for which your employer reimburses you under an accountable plan. How to file 2012 tax return late Accountable plans are discussed later under Reimbursements . How to file 2012 tax return late Individuals subject to “hours of service” limits. How to file 2012 tax return late   You can deduct a higher percentage of your meal expenses while traveling away from your tax home if the meals take place during or incident to any period subject to the Department of Transportation's “hours of service” limits. How to file 2012 tax return late The percentage is 80%. How to file 2012 tax return late   Individuals subject to the Department of Transportation's “hours of service” limits include the following persons. How to file 2012 tax return late Certain air transportation workers (such as pilots, crew, dispatchers, mechanics, and control tower operators) who are under Federal Aviation Administration regulations. How to file 2012 tax return late Interstate truck operators and bus drivers who are under Department of Transportation regulations. How to file 2012 tax return late Certain railroad employees (such as engineers, conductors, train crews, dispatchers, and control operations personnel) who are under Federal Railroad Administration regulations. How to file 2012 tax return late Certain merchant mariners who are under Coast Guard regulations. How to file 2012 tax return late Other exceptions. How to file 2012 tax return late   There are also exceptions for the self-employed, advertising expenses, selling meals or entertainment, and charitable sports events. How to file 2012 tax return late These are discussed in Publication 463. How to file 2012 tax return late Figure 26-A. How to file 2012 tax return late Does the 50% Limit Apply to Your Expenses? There are exceptions to these rules. How to file 2012 tax return late See Exceptions to the 50% Limit . How to file 2012 tax return late Please click here for the text description of the image. How to file 2012 tax return late Entertainment expenses: 50% limit What Entertainment Expenses Are Deductible? This section explains different types of entertainment expenses you may be able to deduct. How to file 2012 tax return late Entertainment. How to file 2012 tax return late    Entertainment includes any activity generally considered to provide entertainment, amusement, or recreation. How to file 2012 tax return late Examples include entertaining guests at nightclubs; at social, athletic, and sporting clubs; at theaters; at sporting events; or on hunting, fishing, vacation, and similar trips. How to file 2012 tax return late A meal as a form of entertainment. How to file 2012 tax return late   Entertainment includes the cost of a meal you provide to a customer or client, whether the meal is a part of other entertainment or by itself. How to file 2012 tax return late A meal expense includes the cost of food, beverages, taxes, and tips for the meal. How to file 2012 tax return late To deduct an entertainment-related meal, you or your employee must be present when the food or beverages are provided. How to file 2012 tax return late You cannot claim the cost of your meal both as an entertainment expense and as a travel expense. How to file 2012 tax return late Separating costs. How to file 2012 tax return late   If you have one expense that includes the costs of entertainment and other services (such as lodging or transportation), you must allocate that expense between the cost of entertainment and the cost of other services. How to file 2012 tax return late You must have a reasonable basis for making this allocation. How to file 2012 tax return late For example, you must allocate your expenses if a hotel includes entertainment in its lounge on the same bill with your room charge. How to file 2012 tax return late Taking turns paying for meals or entertainment. How to file 2012 tax return late   If a group of business acquaintances take turns picking up each others' meal or entertainment checks without regard to whether any business purposes are served, no member of the group can deduct any part of the expense. How to file 2012 tax return late Lavish or extravagant expenses. How to file 2012 tax return late   You cannot deduct expenses for entertainment that are lavish or extravagant. How to file 2012 tax return late An expense is not considered lavish or extravagant if it is reasonable considering the facts and circumstances. How to file 2012 tax return late Expenses will not be disallowed just because they are more than a fixed dollar amount or take place at deluxe restaurants, hotels, nightclubs, or resorts. How to file 2012 tax return late Trade association meetings. How to file 2012 tax return late    You can deduct entertainment expenses that are directly related to, and necessary for, attending business meetings or conventions of certain exempt organizations if the expenses of your attendance are related to your active trade or business. How to file 2012 tax return late These organizations include business leagues, chambers of commerce, real estate boards, trade associations, and professional associations. How to file 2012 tax return late Entertainment tickets. How to file 2012 tax return late   Generally, you cannot deduct more than the face value of an entertainment ticket, even if you paid a higher price. How to file 2012 tax return late For example, you cannot deduct service fees you pay to ticket agencies or brokers or any amount over the face value of the tickets you pay to scalpers. How to file 2012 tax return late What Entertainment Expenses Are Not Deductible? This section explains different types of entertainment expenses you generally may not be able to deduct. How to file 2012 tax return late Club dues and membership fees. How to file 2012 tax return late   You cannot deduct dues (including initiation fees) for membership in any club organized for: Business, Pleasure, Recreation, or Other social purpose. How to file 2012 tax return late This rule applies to any membership organization if one of its principal purposes is either: To conduct entertainment activities for members or their guests, or To provide members or their guests with access to entertainment facilities. How to file 2012 tax return late   The purposes and activities of a club, not its name, will determine whether or not you can deduct the dues. How to file 2012 tax return late You cannot deduct dues paid to: Country clubs, Golf and athletic clubs, Airline clubs, Hotel clubs, and Clubs operated to provide meals under circumstances generally considered to be conducive to business discussions. How to file 2012 tax return late Entertainment facilities. How to file 2012 tax return late   Generally, you cannot deduct any expense for the use of an entertainment facility. How to file 2012 tax return late This includes expenses for depreciation and operating costs such as rent, utilities, maintenance, and protection. How to file 2012 tax return late   An entertainment facility is any property you own, rent, or use for entertainment. How to file 2012 tax return late Examples include a yacht, hunting lodge, fishing camp, swimming pool, tennis court, bowling alley, car, airplane, apartment, hotel suite, or home in a vacation resort. How to file 2012 tax return late Out-of-pocket expenses. How to file 2012 tax return late   You can deduct out-of-pocket expenses, such as for food and beverages, catering, gas, and fishing bait, that you provided during entertainment at a facility. How to file 2012 tax return late These are not expenses for the use of an entertainment facility. How to file 2012 tax return late However, these expenses are subject to the directly-related and associated tests and to the 50% Limit discussed earlier. How to file 2012 tax return late Additional information. How to file 2012 tax return late   For more information on entertainment expenses, including discussions of the directly-related and associated tests, see chapter 2 of Publication 463. How to file 2012 tax return late Gift Expenses If you give gifts in the course of your trade or business, you can deduct all or part of the cost. How to file 2012 tax return late This section explains the limits and rules for deducting the costs of gifts. How to file 2012 tax return late $25 limit. How to file 2012 tax return late   You can deduct no more than $25 for business gifts you give directly or indirectly to each person during your tax year. How to file 2012 tax return late A gift to a company that is intended for the eventual personal use or benefit of a particular person or a limited class of people will be considered an indirect gift to that particular person or to the individuals within that class of people who receive the gift. How to file 2012 tax return late   If you give a gift to a member of a customer's family, the gift is generally considered to be an indirect gift to the customer. How to file 2012 tax return late This rule does not apply if you have a bona fide, independent business connection with that family member and the gift is not intended for the customer's eventual use or benefit. How to file 2012 tax return late   If you and your spouse both give gifts, both of you are treated as one taxpayer. How to file 2012 tax return late It does not matter whether you have separate businesses, are separately employed, or whether each of you has an independent connection with the recipient. How to file 2012 tax return late If a partnership gives gifts, the partnership and the partners are treated as one taxpayer. How to file 2012 tax return late Incidental costs. How to file 2012 tax return late   Incidental costs, such as engraving on jewelry, or packaging, insuring, and mailing, are generally not included in determining the cost of a gift for purposes of the $25 limit. How to file 2012 tax return late   A cost is incidental only if it does not add substantial value to the gift. How to file 2012 tax return late For example, the cost of customary gift wrapping is an incidental cost. How to file 2012 tax return late However, the purchase of an ornamental basket for packaging fruit is not an incidental cost if the value of the basket is substantial compared to the value of the fruit. How to file 2012 tax return late Exceptions. How to file 2012 tax return late   The following items are not considered gifts for purposes of the $25 limit. How to file 2012 tax return late An item that costs $4 or less and: Has your name clearly and permanently imprinted on the gift, and Is one of a number of identical items you widely distribute. How to file 2012 tax return late Examples include pens, desk sets, and plastic bags and cases. How to file 2012 tax return late Signs, display racks, or other promotional material to be used on the business premises of the recipient. How to file 2012 tax return late Gift or entertainment. How to file 2012 tax return late   Any item that might be considered either a gift or entertainment generally will be considered entertainment. How to file 2012 tax return late However, if you give a customer packaged food or beverages you intend the customer to use at a later date, treat it as a gift. How to file 2012 tax return late    If you give a customer tickets to a theater performance or sporting event and you do not go with the customer to the performance or event, you have a choice. How to file 2012 tax return late You can treat the cost of the tickets as either a gift expense or an entertainment expense, whichever is to your advantage. How to file 2012 tax return late    If you go with the customer to the event, you must treat the cost of the tickets as an entertainment expense. How to file 2012 tax return late You cannot choose, in this case, to treat the cost of the tickets as a gift expense. How to file 2012 tax return late Transportation Expenses This section discusses expenses you can deduct for business transportation when you are not traveling away from home as defined earlier under Travel Expenses . How to file 2012 tax return late These expenses include the cost of transportation by air, rail, bus, taxi, etc. How to file 2012 tax return late , and the cost of driving and maintaining your car. How to file 2012 tax return late Transportation expenses include the ordinary and necessary costs of all of the following. How to file 2012 tax return late Getting from one workplace to another in the course of your business or profession when you are traveling within the area of your tax home. How to file 2012 tax return late (Tax home is defined earlier under Travel Expenses . How to file 2012 tax return late ) Visiting clients or customers. How to file 2012 tax return late Going to a business meeting away from your regular workplace. How to file 2012 tax return late Getting from your home to a temporary workplace when you have one or more regular places of work. How to file 2012 tax return late These temporary workplaces can be either within the area of your tax home or outside that area. How to file 2012 tax return late Transportation expenses do not include expenses you have while traveling away from home overnight. How to file 2012 tax return late Those expenses are travel expenses, discussed earlier. How to file 2012 tax return late However, if you use your car while traveling away from home overnight, use the rules in this section to figure your car expense deduction. How to file 2012 tax return late See Car Expenses , later. How to file 2012 tax return late Illustration of transportation expenses. How to file 2012 tax return late    Figure 26-B illustrates the rules for when you can deduct transportation expenses when you have a regular or main job away from your home. How to file 2012 tax return late You may want to refer to it when deciding whether you can deduct your transportation expenses. How to file 2012 tax return late Daily transportation expenses you incur while traveling from home to one or more regular places of business are generally nondeductible commuting expenses. How to file 2012 tax return late However, there are many exceptions for deducting transportation expenses, like whether your work location is temporary (inside or outside the metropolitan area), traveling for same trade or business, or if you have a home office. How to file 2012 tax return late Temporary work location. How to file 2012 tax return late   If you have one or more regular work locations away from your home and you commute to a temporary work location in the same trade or business, you can deduct the expenses of the daily round-trip transportation between your home and the temporary location, regardless of distance. How to file 2012 tax return late   If your employment at a work location is realistically expected to last (and does in fact last) for 1 year or less, the employment is temporary unless there are facts and circumstances that would indicate otherwise. How to file 2012 tax return late   If your employment at a work location is realistically expected to last for more than 1 year or if there is no realistic expectation that the employment will last for 1 year or less, the employment is not temporary, regardless of whether it actually lasts for more than 1 year. How to file 2012 tax return late   If employment at a work location initially is realistically expected to last for 1 year or less, but at some later date the employment is realistically expected to last more than 1 year, that employment will be treated as temporary (unless there are facts and circumstances that would indicate otherwise) until your expectation changes. How to file 2012 tax return late It will not be treated as temporary after the date you determine it will last more than 1 year. How to file 2012 tax return late   If the temporary work location is beyond the general area of your regular place of work and you stay overnight, you are traveling away from home. How to file 2012 tax return late You may have deductible travel expenses as discussed earlier in this chapter. How to file 2012 tax return late No regular place of work. How to file 2012 tax return late   If you have no regular place of work but ordinarily work in the metropolitan area where you live, you can deduct daily transportation costs between home and a temporary work site outside that metropolitan area. How to file 2012 tax return late   Generally, a metropolitan area includes the area within the city limits and the suburbs that are considered part of that metropolitan area. How to file 2012 tax return late   You cannot deduct daily transportation costs between your home and temporary work sites within your metropolitan area. How to file 2012 tax return late These are nondeductible commuting expenses. How to file 2012 tax return late Two places of work. How to file 2012 tax return late   If you work at two places in one day, whether or not for the same employer, you can deduct the expense of getting from one workplace to the other. How to file 2012 tax return late However, if for some personal reason you do not go directly from one location to the other, you cannot deduct more than the amount it would have cost you to go directly from the first location to the second. How to file 2012 tax return late   Transportation expenses you have in going between home and a part-time job on a day off from your main job are commuting expenses. How to file 2012 tax return late You cannot deduct them. How to file 2012 tax return late Armed Forces reservists. How to file 2012 tax return late   A meeting of an Armed Forces reserve unit is a second place of business if the meeting is held on a day on which you work at your regular job. How to file 2012 tax return late You can deduct the expense of getting from one workplace to the other as just discussed under Two places of work , earlier. How to file 2012 tax return late   You usually cannot deduct the expense if the reserve meeting is held on a day on which you do not work at your regular job. How to file 2012 tax return late In this case, your transportation generally is a nondeductible commuting expense. How to file 2012 tax return late However, you can deduct your transportation expenses if the location of the meeting is temporary and you have one or more regular places of work. How to file 2012 tax return late   If you ordinarily work in a particular metropolitan area but not at any specific location and the reserve meeting is held at a temporary location outside that metropolitan area, you can deduct your transportation expenses. How to file 2012 tax return late   If you travel away from home overnight to attend a guard or reserve meeting, you can deduct your travel expenses. How to file 2012 tax return late These expenses are discussed earlier under Travel Expenses . How to file 2012 tax return late   If you travel more than 100 miles away from home in connection with your performance of services as a member of the reserves, you may be able to deduct some of your reserve-related travel costs as an adjustment to income rather than as an itemized deduction. How to file 2012 tax return late See Armed Forces reservists traveling more than 100 miles from home under Special Rules, later. How to file 2012 tax return late Commuting expenses. How to file 2012 tax return late   You cannot deduct the costs of taking a bus, trolley, subway, or taxi, or of driving a car between your home and your main or regular place of work. How to file 2012 tax return late These costs are personal commuting expenses. How to file 2012 tax return late You cannot deduct commuting expenses no matter how far your home is from your regular place of work. How to file 2012 tax return late You cannot deduct commuting expenses even if you work during the commuting trip. How to file 2012 tax return late Example. How to file 2012 tax return late You sometimes use your cell phone to make business calls while commuting to and from work. How to file 2012 tax return late Sometimes business associates ride with you to and from work, and you have a business discussion in the car. How to file 2012 tax return late These activities do not change the trip from personal to business. How to file 2012 tax return late You cannot deduct your commuting expenses. How to file 2012 tax return late Parking fees. How to file 2012 tax return late   Fees you pay to park your car at your place of business are nondeductible commuting expenses. How to file 2012 tax return late You can, however, deduct business-related parking fees when visiting a customer or client. How to file 2012 tax return late Advertising display on car. How to file 2012 tax return late   Putting display material that advertises your business on your car does not change the use of your car from personal use to business use. How to file 2012 tax return late If you use this car for commuting or other personal uses, you still cannot deduct your expenses for those uses. How to file 2012 tax return late Car pools. How to file 2012 tax return late   You cannot deduct the cost of using your car in a nonprofit car pool. How to file 2012 tax return late Do not include payments you receive from the passengers in your income. How to file 2012 tax return late These payments are considered reimbursements of your expenses. How to file 2012 tax return late However, if you operate a car pool for a profit, you must include payments from passengers in your income. How to file 2012 tax return late You can then deduct your car expenses (using the rules in this chapter). How to file 2012 tax return late Hauling tools or instruments. How to file 2012 tax return late   Hauling tools or instruments in your car while commuting to and from work does not make your car expenses deductible. How to file 2012 tax return late However, you can deduct any additional costs you have for hauling tools or instruments (such as for renting a trailer you tow with your car). How to file 2012 tax return late Union members' trips from a union hall. How to file 2012 tax return late   If you get your work assignments at a union hall and then go to your place of work, the costs of getting from the union hall to your place of work are nondeductible commuting expenses. How to file 2012 tax return late Although you need the union to get your work assignments, you are employed where you work, not where the union hall is located. How to file 2012 tax return late Office in the home. How to file 2012 tax return late   If you have an office in your home that qualifies as a principal place of business, you can deduct your daily transportation costs between your home and another work location in the same trade or business. How to file 2012 tax return late (See chapter 28 for information on determining if your home office qualifies as a principal place of business. How to file 2012 tax return late ) Figure 26-B. How to file 2012 tax return late When Are Transportation Expenses Deductible? Most employees and self-employed persons can use this chart. How to file 2012 tax return late (Do not use this chart if your home is your principal place of business. How to file 2012 tax return late See Office in the home . How to file 2012 tax return late ) Please click here for the text description of the image. How to file 2012 tax return late Figure 26-B. How to file 2012 tax return late Local Transportation Examples of deductible transportation. How to file 2012 tax return late   The following examples show when you can deduct transportation expenses based on the location of your work and your home. How to file 2012 tax return late Example 1. How to file 2012 tax return late You regularly work in an office in the city where you live. How to file 2012 tax return late Your employer sends you to a 1-week training session at a different office in the same city. How to file 2012 tax return late You travel directly from your home to the training location and return each day. How to file 2012 tax return late You can deduct the cost of your daily round-trip transportation between your home and the training location. How to file 2012 tax return late Example 2. How to file 2012 tax return late Your principal place of business is in your home. How to file 2012 tax return late You can deduct the cost of round-trip transportation between your qualifying home office and your client's or customer's place of business. How to file 2012 tax return late Example 3. How to file 2012 tax return late You have no regular office, and you do not have an office in your home. How to file 2012 tax return late In this case, the location of your first business contact inside the metropolitan area is considered your office. How to file 2012 tax return late Transportation expenses between your home and this first contact are nondeductible commuting expenses. How to file 2012 tax return late Transportation expenses between your last business contact and your home are also nondeductible commuting expenses. How to file 2012 tax return late While you cannot deduct the costs of these first and last trips, you can deduct the costs of going from one client or customer to another. How to file 2012 tax return late With no regular or home office, the costs of travel between two or more business contacts in a metropolitan area are deductible while the costs of travel between the home to (and from) business contacts are not deductible. How to file 2012 tax return late Car Expenses If you use your car for business purposes, you may be able to deduct car expenses. How to file 2012 tax return late You generally can use one of the two following methods to figure your deductible expenses. How to file 2012 tax return late Standard mileage rate. How to file 2012 tax return late Actual car expenses. How to file 2012 tax return late If you use actual car expenses to figure your deduction for a car you lease, there are rules that affect the amount of your lease payments you can deduct. How to file 2012 tax return late See Leasing a car under Actual Car Expenses, later. How to file 2012 tax return late In this chapter, “car” includes a van, pickup, or panel truck. How to file 2012 tax return late Rural mail carriers. How to file 2012 tax return late   If you are a rural mail carrier, you may be able to treat the amount of qualified reimbursement you received as the amount of your allowable expense. How to file 2012 tax return late Because the qualified reimbursement is treated as paid under an accountable plan, your employer should not include the amount of reimbursement in your income. How to file 2012 tax return late   If your vehicle expenses are more than the amount of your reimbursement, you can deduct the unreimbursed expenses as an itemized deduction on Schedule A (Form 1040). How to file 2012 tax return late You must complete Form 2106 and attach it to your Form 1040. How to file 2012 tax return late   A “qualified reimbursement” is the reimbursement you receive that meets both of the following conditions. How to file 2012 tax return late It is given as an equipment maintenance allowance (EMA) to employees of the U. How to file 2012 tax return late S. How to file 2012 tax return late Postal Service. How to file 2012 tax return late It is at the rate contained in the 1991 collective bargaining agreement. How to file 2012 tax return late Any later agreement cannot increase the qualified reimbursement amount by more than the rate of inflation. How to file 2012 tax return late See your employer for information on your reimbursement. How to file 2012 tax return late If you are a rural mail carrier and received a qualified reimbursement, you cannot use the standard mileage rate. How to file 2012 tax return late Standard Mileage Rate You may be able to use the standard mileage rate to figure the deductible costs of operating your car for business purposes. How to file 2012 tax return late For 2013, the standard mileage rate for business use is 56½ cents per mile. How to file 2012 tax return late If you use the standard mileage rate for a year, you cannot deduct your actual car expenses for that year, but see Parking fees and tolls, later. How to file 2012 tax return late You generally can use the standard mileage rate whether or not you are reimbursed and whether or not any reimbursement is more or less than the amount figured using the standard mileage rate. How to file 2012 tax return late See Reimbursements under How To Report, later. How to file 2012 tax return late Choosing the standard mileage rate. How to file 2012 tax return late   If you want to use the standard mileage rate for a car you own, you must choose to use it in the first year the car is available for use in your business. How to file 2012 tax return late Then in later years, you can choose to use either the standard mileage rate or actual expenses. How to file 2012 tax return late   If you want to use the standard mileage rate for a car you lease, you must use it for the entire lease period. How to file 2012 tax return late   You must make the choice to use the standard mileage rate by the due date (including extensions) of your return. How to file 2012 tax return late You cannot revoke the choice. How to file 2012 tax return late However, in a later year, you can switch from the standard mileage rate to the actual expenses method. How to file 2012 tax return late If you change to the actual expenses method in a later year, but before your car is fully depreciated, you have to estimate the remaining useful life of the car and use straight line depreciation. How to file 2012 tax return late Example. How to file 2012 tax return late Larry is an employee who occasionally uses his own car for business purposes. How to file 2012 tax return late He purchased the car in 2011, but he did not claim any unreimburse