File your Taxes for Free!
  • Get your maximum refund*
  • 100% accurate calculations guaranteed*

TurboTax Federal Free Edition - File Taxes Online

Don't let filing your taxes get you down! We'll help make it as easy as possible. With e-file and direct deposit, there's no faster way to get your refund!

Approved TurboTax Affiliate Site. TurboTax and TurboTax Online, among others, are registered trademarks and/or service marks of Intuit Inc. in the United States and other countries. Other parties' trademarks or service marks are the property of the respective owners.


© 2012 - 2018 All rights reserved.

This is an Approved TurboTax Affiliate site. TurboTax and TurboTax Online, among other are registered trademarks and/or service marks of Intuit, Inc. in the United States and other countries. Other parties' trademarks or service marks are the property of the respective owners.
When discussing "Free e-file", note that state e-file is an additional fee. E-file fees do not apply to New York state returns. Prices are subject to change without notice. E-file and get your refund faster
*If you pay an IRS or state penalty or interest because of a TurboTax calculations error, we'll pay you the penalty and interest.
*Maximum Refund Guarantee - or Your Money Back: If you get a larger refund or smaller tax due from another tax preparation method, we'll refund the applicable TurboTax federal and/or state purchase price paid. TurboTax Federal Free Edition customers are entitled to payment of $14.99 and a refund of your state purchase price paid. Claims must be submitted within sixty (60) days of your TurboTax filing date and no later than 6/15/14. E-file, Audit Defense, Professional Review, Refund Transfer and technical support fees are excluded. This guarantee cannot be combined with the TurboTax Satisfaction (Easy) Guarantee. *We're so confident your return will be done right, we guarantee it. Accurate calculations guaranteed. If you pay an IRS or state penalty or interest because of a TurboTax calculations error, we'll pay you the penalty and interest.
https://turbotax.intuit.com/corp/guarantees.jsp

How To Submit An Amended Tax Return

Hr Block Free TaxesState Tax Preparation FreeHelp With 1040x First TimeEz Form 1040Where To File My State Taxes For FreeE File State Taxes Only FreeFree Tax PreparationFederal Income Tax 1040ez OnlineHow To File Ez Tax FormUs Irs Tax FormsHr Block E FileThere Previous Years Tax Software That FreeState Tax Return OnlineFree Federal And State Tax Filing 20132012 Ez Tax Form2011 Tax Returns2012 Tax Tables FederalFree 1040ez OnlineFile Free Federal And State Tax ReturnIrs Form 1040ez 2014My PayFile State Taxes FreeIrs Amendment Form2010 Income Tax FormsFree 1040ez FilingTaxcut SoftwareHow To File 2010 Taxes Online For Free2014 1040ez Tax FormsIs It Too Late To File 2012 Tax ReturnPrintable 1040 Form1040x IrsTax Act 2012 ReturnHow To Do Military TaxesFederal Income Tax 1040ezH&r Block TaxHow To Fill Out A 1040x Form For The IrsTax Return Form 1040ezEfile 2012 Tax Return FreeTurbotax Premier Federal & State Returns Plus Federal E File 20131040 Es Payment Voucher

How To Submit An Amended Tax Return

How to submit an amended tax return 13. How to submit an amended tax return   Base de Bienes Table of Contents Introduction Useful Items - You may want to see: Base de CostoBienes Raíces Base AjustadaAumentos a la Base Disminuciones a la Base Base Distinta al CostoBienes Recibidos por Servicios Intercambios Sujetos a Impuestos Conversiones Involuntarias Intercambios no Sujetos a Impuestos Bienes Traspasados de un Cónyuge Bienes Recibidos como Donación Bienes Heredados Bienes de Uso Personal Cambiados a Uso Comercial o de Alquiler Acciones y Bonos Introduction Este capítulo explica cómo calcular la base de bienes. How to submit an amended tax return Se divide en las siguientes secciones: Base de costo. How to submit an amended tax return Base ajustada. How to submit an amended tax return Base distinta al costo. How to submit an amended tax return Su base es la cantidad de inversión en bienes para propósitos no sujetos a impuestos. How to submit an amended tax return Use la base para calcular las pérdidas o ganancias provenientes de la venta, intercambio u otra enajenación de bienes. How to submit an amended tax return Además, use la base para calcular las deducciones por depreciación, amortización, agotamiento y pérdidas fortuitas. How to submit an amended tax return Si usa bienes para propósitos tanto comerciales como de inversión y personales, tiene que distribuir la base de acuerdo con el uso. How to submit an amended tax return Sólo se puede depreciar la base asignada al uso comercial o de inversión de los bienes. How to submit an amended tax return Su base original de los bienes se ajusta (aumenta o disminuye) según ciertos hechos. How to submit an amended tax return Por ejemplo, si realiza mejoras a los bienes, aumente la base. How to submit an amended tax return Si hace deducciones por depreciación o pérdidas fortuitas, o reclama ciertos créditos, reduzca la base. How to submit an amended tax return Mantenga documentación precisa de todos los artículos que afecten la base de sus bienes. How to submit an amended tax return Para más información sobre cómo mantener dicha documentación, consulte el capítulo 1 . How to submit an amended tax return Useful Items - You may want to see: Publicación 15-B Employer's Tax Guide to Fringe Benefits (Guía tributaria sobre beneficios marginales para empleadores), en inglés 525 Taxable and Nontaxable Income (Ingresos sujetos a impuestos y no sujetos a impuestos), en inglés 535 Business Expenses (Gastos de negocio), en inglés 537 Installment Sales (Ventas a plazos), en inglés 544 Sales and Other Dispositions of Assets (Ventas y otras enajenaciones de activos), en inglés 550 Investment Income and Expenses (Ingresos y gastos de inversión), en inglés 551 Basis of Assets (Base de activos), en inglés 946 How To Depreciate Property (Cómo depreciar los bienes), en inglés Base de Costo La base de los bienes comprados normalmente es el costo de dichos bienes. How to submit an amended tax return El costo es la cantidad que usted paga en efectivo, obligaciones de deuda, otros bienes o servicios. How to submit an amended tax return Éste también puede incluir cantidades que paga por los siguientes artículos: Impuesto sobre ventas, Flete, Instalación y pruebas, Impuestos sobre artículos de uso y consumo, Honorarios legales y contables (cuando se tienen que capitalizar), Timbres de recaudación de impuestos, Costos de registro e Impuestos sobre bienes raíces (si usted los asume por el vendedor). How to submit an amended tax return Además, la base de activos de bienes raíces y de negocios puede incluir otros artículos. How to submit an amended tax return Préstamos con intereses bajos o sin intereses. How to submit an amended tax return    Si compra bienes con un plan de pago a plazos con bajos intereses o sin intereses, la base de los bienes es el precio de compra establecido menos las cantidades consideradas intereses no establecidos. How to submit an amended tax return Por lo general, se tienen intereses no establecidos si la tasa de interés es menor que la tasa federal correspondiente. How to submit an amended tax return   Para obtener más información, consulte Unstated Interest and Original Issue Discount (OID) (Intereses no establecidos y descuento de la emisión original (OID, por sus siglas en inglés)) en la Publicación 537, en inglés. How to submit an amended tax return Bienes Raíces Los bienes raíces, conocidos también como bienes inmuebles, consisten en tierra y, normalmente, todo lo que esté construido sobre esta tierra, lo que crezca en ella y todo lo instalado en ésta. How to submit an amended tax return Si compra bienes raíces, algunos honorarios y otros gastos que usted pague son parte de la base de costo de los bienes. How to submit an amended tax return Compra por suma global. How to submit an amended tax return   Si compra edificios junto con la tierra por una suma global, asigne la base del costo entre la tierra y los edificios. How to submit an amended tax return Asigne el costo según los valores justos de mercado (FMV, por sus siglas en inglés) respectivos de la tierra y los edificios al momento de la compra. How to submit an amended tax return Calcule la base de cada uno de los activos multiplicando la suma global por una fracción. How to submit an amended tax return El numerador es el valor justo de mercado de dicho activo y el denominador es el valor justo de mercado de los bienes en su totalidad al momento de la compra. How to submit an amended tax return    Si no está seguro del valor justo de mercado de la tierra y los edificios, puede asignar la base de dichos bienes conforme a sus valores tasados para propósitos del impuesto sobre bienes raíces. How to submit an amended tax return Valor justo de mercado (FMV). How to submit an amended tax return   El valor justo de mercado (FMV, por sus siglas en inglés) es el precio por el cual los bienes cambian de propietario entre un comprador y un vendedor, cuando ninguno tiene la obligación de comprar o vender y cuando ambos tienen conocimiento razonable de todo hecho necesario. How to submit an amended tax return Las ventas de bienes similares alrededor de la misma fecha pueden ser útiles para calcular el valor justo de mercado de los bienes. How to submit an amended tax return Asunción de hipoteca. How to submit an amended tax return   Si compra bienes y asume una hipoteca existente sobre los bienes (o si compra bienes sujetos a hipoteca), su base incluye la cantidad que paga por los bienes más la cantidad que se tiene que pagar sobre la hipoteca. How to submit an amended tax return Cargos de liquidación. How to submit an amended tax return   Su base incluye los cargos de liquidación y los costos de cierre que pagó por comprar los bienes. How to submit an amended tax return Un cargo por comprar bienes es un costo que se tiene que pagar aun si compra los bienes en efectivo. How to submit an amended tax return No incluya en su base cargos ni costos por obtener un préstamo sobre los bienes. How to submit an amended tax return   Los siguientes son algunos de los cargos por liquidación o costos de cierre que puede incluir en la base de los bienes: Cargos por investigación del título de propiedad. How to submit an amended tax return Cargos por conexión de servicios públicos. How to submit an amended tax return Cargos por trámites legales (incluyendo cargos por la búsqueda del título y la preparación del contrato de compraventa y la escritura). How to submit an amended tax return Costos de registro. How to submit an amended tax return Cargos por estudios topográficos. How to submit an amended tax return Impuestos de traspaso. How to submit an amended tax return Seguro de título de la propiedad. How to submit an amended tax return Cantidades que adeuda el vendedor y que usted acuerda pagar, como impuestos o intereses atrasados, costos de registro y cargos hipotecarios, cargos por mejoras o reparaciones y comisiones por ventas. How to submit an amended tax return   Los costos de liquidación no incluyen cantidades puestas en depósito para el pago futuro de gastos como impuestos y seguro. How to submit an amended tax return   Los siguientes son algunos de los cargos por liquidación y costos de cierre que no puede incluir en la base de los bienes: Primas de un seguro contra hechos fortuitos. How to submit an amended tax return Alquiler por ocupación de la propiedad antes del cierre. How to submit an amended tax return Cargos por servicios públicos u otros servicios relacionados con la ocupación de la propiedad antes del cierre. How to submit an amended tax return Cargos relacionados con la obtención de un préstamo, tales como puntos (puntos de descuento, costos originarios del préstamo), primas de seguro hipotecario, cargos por asunción del préstamo, costo de un informe de crédito y cargos por una tasación que sea requisito del prestamista. How to submit an amended tax return Cargos por refinanciamiento de una hipoteca. How to submit an amended tax return Impuestos sobre bienes raíces. How to submit an amended tax return   Si paga los impuestos sobre bienes raíces que el vendedor adeudaba sobre los bienes raíces que usted compró y el vendedor no se los reembolsa, considere estos impuestos como parte de su base. How to submit an amended tax return No puede deducirlos como gasto. How to submit an amended tax return    Si le reembolsa al vendedor los impuestos que éste pagó por usted, normalmente puede deducir la cantidad como gasto en el año de la compra. How to submit an amended tax return No incluya esta cantidad en la base de bienes. How to submit an amended tax return Si no se los reembolsa al vendedor, tiene que restar esos impuestos de su base. How to submit an amended tax return Puntos. How to submit an amended tax return   Si paga puntos para obtener un préstamo (incluyendo una hipoteca, una segunda hipoteca, una línea de crédito o un préstamo sobre el valor neto de la vivienda), no sume los puntos a la base de los bienes correspondientes. How to submit an amended tax return Normalmente, los puntos se deducen a lo largo del plazo del préstamo. How to submit an amended tax return Para más información sobre cómo deducir puntos, consulte el capítulo 23 . How to submit an amended tax return Puntos de hipoteca de vivienda. How to submit an amended tax return   Le pueden corresponder reglas especiales sobre los puntos que usted y el vendedor paguen cuando usted obtenga una hipoteca para comprar su vivienda principal. How to submit an amended tax return Si se cumplen ciertos requisitos, puede deducir los puntos en su totalidad para el año en que se pagaron. How to submit an amended tax return Reduzca la base de su vivienda por los puntos que pagó el vendedor. How to submit an amended tax return Base Ajustada Antes de calcular las pérdidas o ganancias de una venta, intercambio u otra enajenación de bienes o de calcular la depreciación, agotamiento o amortización permisibles, por regla general, tiene que realizar ciertos ajustes (aumentos o disminuciones) a la base del costo o base distinta al costo (explicadas más adelante) de los bienes. How to submit an amended tax return El resultado de estos ajustes a la base es la base ajustada. How to submit an amended tax return Aumentos a la Base Aumente la base de los bienes por todos los artículos correctamente sumados a una cuenta de capital. How to submit an amended tax return Ejemplos de artículos que aumentan la base se encuentran en la Tabla 13-1. How to submit an amended tax return Algunos de estos artículos se explican a continuación. How to submit an amended tax return Mejoras. How to submit an amended tax return   Sume a su base de los bienes el costo de las mejoras que tengan vida útil de más de 1 año, si éstas aumentan el valor de los bienes, prolongan su vida útil o los adaptan para un uso diferente. How to submit an amended tax return Por ejemplo, las mejoras incluyen la instalación de una sala de recreación en un sótano no terminado, la construcción de un baño o dormitorio adicional, la colocación de una cerca, la instalación de nueva plomería o cableado, la instalación de un nuevo tejado o la pavimentación de la entrada de autos. How to submit an amended tax return Gravámenes por mejoras locales. How to submit an amended tax return   Sume a la base de los bienes los cargos por mejoras como calles y aceras o banquetas, si éstas aumentan el valor de los bienes. How to submit an amended tax return No deduzca dichos cargos como impuestos. How to submit an amended tax return Sin embargo, puede deducir como impuestos los cargos por mantenimiento, reparaciones o cargos de intereses relacionados con las mejoras. How to submit an amended tax return Ejemplo. How to submit an amended tax return El ayuntamiento transforma la calle ubicada frente a su tienda en un paseo peatonal y le tasa un gravamen a la propiedad de usted y a las de otros propietarios afectados por el costo del cambio de la calle. How to submit an amended tax return Sume dicho cargo a la base de sus bienes. How to submit an amended tax return En este ejemplo, el cargo es un activo depreciable. How to submit an amended tax return Disminuciones a la Base Reduzca la base de bienes por todo lo que represente un rendimiento de capital en el período durante el cual tuvo los bienes. How to submit an amended tax return Los ejemplos de artículos que reducen la base se encuentran en la Tabla 13-1. How to submit an amended tax return Algunos de estos artículos se explican a continuación. How to submit an amended tax return Tabla 13-1. How to submit an amended tax return Ejemplos de Ajustes a la Base Aumentos a la Base Disminuciones a la Base • Mejoras de capital: • Exclusión en los ingresos de subsidios  por sistemas de ahorro de energía   Ampliación de la vivienda     Instalación de un tejado completo     Pavimentación de la entrada de autos • Deducciones por pérdidas fortuitas o  por robo y reembolsos de seguros   Instalación de aire acondicionado central     Cambio del cableado en la vivienda         • Gravámenes por mejoras locales: • Ganancia aplazada de la venta de una  vivienda   Conexiones de agua     Extensión de cables de servicios públicos   hasta la propiedad • Crédito por vehículos con motor  alternativo (Formulario 8910)   Banquetas o aceras     Calles       • Crédito por bienes para recargar  vehículos de combustible alternativo   (Formulario 8911)             • Pérdidas por hechos fortuitos:  Restauración de bienes dañados   • Créditos por energía eficaz  residencial (Formulario 5695)         • Depreciación y deducción conforme a  la sección 179       • Honorarios legales: • Distribuciones de sociedades  anónimas no sujetos a impuestos   Costo de defender y perfeccionar un título   de propiedad     Honorarios por obtener la reducción de un   gravamen del ayuntamiento • Determinadas deudas canceladas  excluidas de los ingresos       • Costos de zonificación • Servidumbres (derechos de acceso  a la propiedad)         • Beneficios tributarios por adopción Pérdidas por hecho fortuito y robo. How to submit an amended tax return   Si tiene pérdidas por hecho fortuito o por robo, reste de la base de los bienes el dinero del seguro u otros reembolsos y las pérdidas deducibles no cubiertas por el seguro. How to submit an amended tax return    Tiene que aumentar la base de los bienes por la cantidad que gaste en reparaciones que restauren los bienes a su condición previa al hecho fortuito. How to submit an amended tax return   Para obtener más información acerca de las pérdidas fortuitas y por robo, consulte el capítulo 25 . How to submit an amended tax return Depreciación y deducción conforme a la sección 179. How to submit an amended tax return   Reste de la base de la propiedad comercial calificada las deducciones que haya declarado conforme a la sección 179 y la depreciación que haya deducido, o pudo haber deducido (incluyendo todo descuento especial por depreciación), en la declaración de impuestos según el método de depreciación que seleccionó. How to submit an amended tax return   Para obtener más información acerca de la depreciación y la deducción conforme a la sección 179, consulte la Publicación 946 y las Instrucciones del Formulario 4562, ambas en inglés. How to submit an amended tax return Ejemplo. How to submit an amended tax return Usted fue propietario de un dúplex usado como vivienda de alquiler que le costó $40,000, de los cuales $35,000 fueron asignados al edificio y $5,000 al terreno. How to submit an amended tax return Hizo una ampliación al dúplex que costó $10,000. How to submit an amended tax return En febrero del año pasado, el dúplex sufrió daños por un incendio. How to submit an amended tax return Hasta ese momento, usted había descontado una depreciación de $23,000. How to submit an amended tax return Vendió algunos materiales rescatados del siniestro por $1,300 y cobró $19,700 de la compañía de seguros. How to submit an amended tax return Dedujo una pérdida fortuita de $1,000 en su declaración de impuestos sobre el ingreso del año pasado. How to submit an amended tax return Gastó $19,000 del dinero del seguro para la restauración del dúplex, que se completó este año. How to submit an amended tax return Tiene que usar la base ajustada del dúplex después de la restauración para determinar la depreciación para el resto del período de recuperación de la propiedad. How to submit an amended tax return Calcule la base ajustada del dúplex de la siguiente manera: Costo original del dúplex $35,000 Ampliación hecha al dúplex 10,000 Costo total del dúplex $45,000 Menos: Depreciación 23,000 Base ajustada antes del hecho fortuito $22,000 Menos: Dinero del seguro $19,700     Pérdida fortuita deducida 1,000     Materiales rescatados 1,300 22,000 Base ajustada después del hecho fortuito $-0- Sume: Costo de restauración del dúplex 19,000 Base ajustada después de la restauración $19,000 Nota: La base del terreno es el costo original de $5,000. How to submit an amended tax return Servidumbres (derechos de acceso a la propiedad). How to submit an amended tax return   La cantidad recibida por otorgar una servidumbre normalmente se considera ganancia de la venta de una participación en bienes raíces. How to submit an amended tax return Esto reduce la base de la parte afectada de los bienes. How to submit an amended tax return Si la cantidad recibida es mayor que la base de la parte de la propiedad afectada por la servidumbre, reduzca su base de esa parte a cero y considere el remanente como una ganancia reconocida. How to submit an amended tax return   Si la ganancia es sobre bienes de capital, consulte el capítulo 16 para obtener más información acerca de cómo declararla. How to submit an amended tax return Si la ganancia es sobre bienes usados en una ocupación o negocio, consulte la Publicación 544, en inglés, para obtener información acerca de cómo declararla. How to submit an amended tax return Exclusión de subsidios por sistemas de ahorro de energía. How to submit an amended tax return   Puede excluir del ingreso bruto todo subsidio recibido de una compañía de servicios públicos por la compra o instalación de un sistema de ahorro de energía para una vivienda. How to submit an amended tax return De la base de los bienes para los cuales recibió el subsidio, reste la cantidad excluida. How to submit an amended tax return Para obtener más información acerca de este subsidio, consulte el capítulo 12 . How to submit an amended tax return Ganancia aplazada de la venta de una vivienda. How to submit an amended tax return    Si aplazó la ganancia de la venta de su vivienda principal según las reglas en vigencia antes del 7 de mayo de 1997, tiene que restar la ganancia aplazada de la base de la vivienda que adquirió como reposición. How to submit an amended tax return Para obtener más información acerca de las reglas sobre la venta de una vivienda, vea el capítulo 15 . How to submit an amended tax return Base Distinta al Costo En muchas ocasiones, no puede usar el costo como base. How to submit an amended tax return En estos casos, se puede usar el valor justo de mercado o la base ajustada de los bienes. How to submit an amended tax return El valor justo de mercado y la base ajustada se explican en secciones anteriores. How to submit an amended tax return Bienes Recibidos por Servicios Si recibe bienes por sus servicios, incluya el valor justo de mercado de dichos bienes en los ingresos. How to submit an amended tax return La cantidad que incluye en los ingresos es la base. How to submit an amended tax return Si los servicios se prestaron por un precio acordado con anticipación, éste se aceptará como el valor justo de mercado de los bienes si no existen pruebas de lo contrario. How to submit an amended tax return Bienes restringidos. How to submit an amended tax return   Si recibe bienes por sus servicios y los bienes están sujetos a ciertas restricciones, la base de los bienes es el valor justo de mercado en el momento en que estén sustancialmente establecidos sus derechos a dichos bienes. How to submit an amended tax return Sin embargo, esta regla no corresponde si elige incluir en los ingresos el valor justo de mercado de los bienes en el momento en que se le traspasen dichos bienes, menos la cantidad que pagó por éstos. How to submit an amended tax return Su derecho sobre esos bienes están sustancialmente establecidos cuando dichos bienes se pueden traspasar o cuando no están sujetos a un riesgo importante de pérdida (es decir, usted tiene pocas probabilidades de perderlos). How to submit an amended tax return Para obtener más información, consulte Restricted Property (Bienes restringidos) en la Publicación 525, en inglés. How to submit an amended tax return Compra por valor inferior. How to submit an amended tax return   Una compra por valor inferior es una compra de un artículo por un valor menor que su valor justo de mercado. How to submit an amended tax return Si, como compensación por servicios, compra productos u otros bienes por un valor menor al valor justo de mercado, incluya en su ingreso la diferencia entre el precio de compra y el valor justo de mercado de los bienes. How to submit an amended tax return La base de los bienes es el valor justo de mercado (precio de compra más la cantidad que se incluye en los ingresos). How to submit an amended tax return   Si la diferencia entre el precio de compra y el valor justo de mercado es un descuento al empleado, no incluya la diferencia en los ingresos. How to submit an amended tax return Sin embargo, la base de los bienes sigue siendo el valor justo de mercado. How to submit an amended tax return Consulte Employee Discounts (Descuentos del empleado) en la Publicación 15-B, en inglés. How to submit an amended tax return Intercambios Sujetos a Impuestos Un intercambio sujeto a impuestos es aquel intercambio en el que la ganancia está sujeta a impuestos o la pérdida es deducible. How to submit an amended tax return Una ganancia sujeta a impuestos o pérdida deducible también se conoce como ganancia o pérdida reconocida. How to submit an amended tax return Si recibe bienes como intercambio por otros bienes a través de un intercambio sujeto a impuestos, normalmente la base de los bienes que recibe es el valor justo de mercado al momento del intercambio. How to submit an amended tax return Conversiones Involuntarias Si recibe bienes de reposición como resultado de una conversión involuntaria, tal como un hecho fortuito, robo o expropiación forzosa, calcule la base de los bienes de reposición usando la base de los bienes convertidos. How to submit an amended tax return Bienes similares o afines. How to submit an amended tax return   Si recibe bienes de reposición similares o afines en servicio o uso a los bienes convertidos, la base de los bienes de reposición es la misma que la base de los bienes convertidos en la fecha de la conversión, con los siguientes ajustes: Reduzca la base por lo siguiente: Toda pérdida que reconozca en la conversión involuntaria. How to submit an amended tax return Todo dinero que reciba y que no gaste en bienes afines. How to submit an amended tax return Aumente la base por lo siguiente: Toda ganancia que reconozca en la conversión involuntaria. How to submit an amended tax return Todo costo de adquisición de los bienes de reposición. How to submit an amended tax return Dinero o bienes no similares ni afines. How to submit an amended tax return    Si recibe dinero o bienes no similares o no afines en servicio o uso a los bienes convertidos y compra bienes de reposición similares o afines en servicio o uso a los bienes convertidos, la base de los bienes de reposición es el costo menos la ganancia no reconocida en la conversión. How to submit an amended tax return Ejemplo. How to submit an amended tax return El estado expropió sus bienes. How to submit an amended tax return La base ajustada de los bienes era $26,000 y el estado le pagó $31,000 por éstos. How to submit an amended tax return Usted obtuvo una ganancia de $5,000 ($31,000 − $26,000). How to submit an amended tax return Por $29,000 compró bienes de reposición similares en uso a los bienes convertidos. How to submit an amended tax return Obtiene una ganancia de $2,000 ($31,000 − $29,000), la parte no gastada del pago que recibió del estado. How to submit an amended tax return Su ganancia no reconocida es $3,000, la diferencia entre los $5,000 de ganancia obtenida y los $2,000 de ganancia reconocida. How to submit an amended tax return La base de los bienes de reposición se calcula de la siguiente manera: Costo de los bienes de reposición $29,000 Menos: Ganancia no reconocida 3,000 Base de los bienes de reposición $26,000 Cómo distribuir la base. How to submit an amended tax return   Si compra más de una propiedad de reposición, distribuya la base entre los bienes de acuerdo con los costos respectivos. How to submit an amended tax return Base de depreciación. How to submit an amended tax return   Hay reglas especiales para determinar y depreciar la base de los bienes MACRS (Sistema modificado de recuperación acelerada de costos) adquiridos en una conversión involuntaria. How to submit an amended tax return Para información, vea What Is the Basis of Your Depreciable Property? (¿Cuál es la base de los bienes depreciables?), en el capítulo 1 de la Publicación 946, en inglés. How to submit an amended tax return Intercambios no Sujetos a Impuestos Un intercambio no sujeto a impuestos es aquel intercambio en el que no se gravan las ganancias y no se pueden deducir las pérdidas. How to submit an amended tax return Si recibe bienes por intercambio no sujetos a impuestos, normalmente la base es la misma que la base de los bienes que traspasó. How to submit an amended tax return Consulte Canjes no Sujetos a Impuestos en el capítulo 14. How to submit an amended tax return Intercambios de Bienes del Mismo Tipo El intercambio de bienes del mismo tipo es la clase más común de intercambio no sujeto a impuestos. How to submit an amended tax return Para considerarse intercambio de bienes del mismo tipo, tanto los bienes canjeados como los bienes recibidos tienen que ser los siguientes: Bienes calificados. How to submit an amended tax return Bienes del mismo tipo. How to submit an amended tax return La base de los bienes que recibe normalmente es la misma que la base ajustada de los bienes que traspase. How to submit an amended tax return Si canjea los bienes en un intercambio de bienes del mismo tipo y también paga dinero, la base de los bienes recibidos es la base ajustada de los bienes que entregó más el dinero que pagó. How to submit an amended tax return Bienes calificados. How to submit an amended tax return   En un intercambio de bienes del mismo tipo, tiene que mantener para inversión o uso productivo en su ocupación o negocio tanto los bienes que traspase como los bienes que reciba. How to submit an amended tax return Bienes del mismo tipo. How to submit an amended tax return   Tiene que haber un intercambio de bienes del mismo tipo. How to submit an amended tax return Los bienes del mismo tipo son bienes de la misma naturaleza o carácter, aun si son de grado o calidad diferente. How to submit an amended tax return El intercambio de bienes raíces por bienes raíces, o de bienes muebles por bienes muebles similares, es un intercambio de bienes del mismo tipo. How to submit an amended tax return Ejemplo. How to submit an amended tax return Usted canjea un camión viejo que usó en su negocio con una base ajustada de $1,700 por un camión nuevo que tiene un costo de $6,800. How to submit an amended tax return El concesionario le hace un descuento de $2,000 por el camión viejo y usted paga $4,800. How to submit an amended tax return Esto es un ejemplo de un intercambio de bienes del mismo tipo. How to submit an amended tax return La base del camión nuevo es $6,500 (la base ajustada del camión viejo, $1,700, más la cantidad que pagó, $4,800). How to submit an amended tax return Si vende el camión viejo a un tercero por $2,000, en lugar de hacer un canje y luego comprar un camión nuevo a un concesionario, usted tiene una ganancia sujeta a impuestos de $300 sobre la venta (el precio de venta de $2,000 menos la base ajustada de $1,700). How to submit an amended tax return La base del camión nuevo es el precio que paga al concesionario. How to submit an amended tax return Intercambios parcialmente no sujetos a impuestos. How to submit an amended tax return   Un intercambio parcialmente no sujeto a impuestos es un intercambio en el que usted recibe bienes que no son del mismo tipo o dinero, además de bienes del mismo tipo. How to submit an amended tax return La base de los bienes que recibe es igual a la base ajustada total de los bienes que traspasó, con los siguientes ajustes: Reduzca la base por lo siguiente: Todo el dinero que reciba. How to submit an amended tax return Todas las pérdidas que reconozca en el intercambio. How to submit an amended tax return Aumente la base por lo siguiente: Todos los costos adicionales en los que incurra. How to submit an amended tax return Todas las ganancias que reconozca en el intercambio. How to submit an amended tax return Si la otra parte implicada en el intercambio asume las deudas que le pertenecen a usted, trate la asunción de deuda como dinero que usted recibió en el intercambio. How to submit an amended tax return Asignación de la base. How to submit an amended tax return   Si recibe tanto bienes del mismo tipo como bienes que no son del mismo tipo en el intercambio, asigne la base primero a los bienes que no sean del mismo tipo, excepto dinero, hasta su valor justo de mercado en la fecha del intercambio. How to submit an amended tax return El resto es la base de los bienes del mismo tipo. How to submit an amended tax return Información adicional. How to submit an amended tax return   Para obtener más información, consulte Like-Kind Exchanges (Intercambios de bienes del mismo tipo) en el capítulo 1 de la Publicación 544, en inglés. How to submit an amended tax return Base de depreciación. How to submit an amended tax return   Hay reglas especiales para determinar y depreciar la base de los bienes MACRS adquiridos en un intercambio de bienes del mismo tipo. How to submit an amended tax return Para información, vea What Is the Basis of Your Depreciable Property? (¿Cuál es la base de los bienes depreciables?), en el capítulo 1 de la Publicación 946, en inglés. How to submit an amended tax return Bienes Traspasados de un Cónyuge La base de los bienes traspasados a usted o traspasados en fideicomiso para su beneficio por su cónyuge es la misma base que la base ajustada de su cónyuge. How to submit an amended tax return Se aplica la misma regla a un traspaso efectuado por su ex cónyuge en relación con su divorcio. How to submit an amended tax return Sin embargo, para bienes traspasados en fideicomiso, ajuste la base según las ganancias reconocidas por su cónyuge o ex cónyuge si las obligaciones asumidas, más las obligaciones a las que están sujetos los bienes, son mayores que la base ajustada de los bienes traspasados. How to submit an amended tax return Si los bienes que le son traspasados son bonos de ahorros estadounidenses de la serie E, serie EE o serie I, el cesionario tiene que incluir en el ingreso los intereses devengados a la fecha del traspaso. How to submit an amended tax return Su base en los bonos, inmediatamente después del traspaso, es igual a la base del cesionario más el ingreso de intereses que se pueda incluir en el ingreso del cesionario. How to submit an amended tax return Para obtener más información acerca de estos bonos, consulte el capítulo 7 . How to submit an amended tax return Al momento del traspaso, el cesionario tiene que entregarle la documentación necesaria para determinar la base ajustada y el período de tenencia de los bienes a partir de la fecha de traspaso. How to submit an amended tax return Para obtener más información acerca del traspaso de bienes de un cónyuge, consulte el capítulo 14 . How to submit an amended tax return Bienes Recibidos como Donación Para calcular la base de una propiedad recibida como donación, tiene que conocer la base ajustada del donante justo antes de la donación, el valor justo de mercado de esta propiedad al momento en que se dona y los impuestos sobre donaciones pagados por dicha propiedad. How to submit an amended tax return Valor justo de mercado menor que la base ajustada del donante. How to submit an amended tax return   Si el valor justo de mercado de los bienes al momento de la donación es menor que la base ajustada del donante, la base depende de si usted tiene ganancias o pérdidas cuando enajene los bienes. How to submit an amended tax return Su base para calcular ganancias es la misma que la base ajustada del donante más o menos los ajustes requeridos a la base mientras usted tenía los bienes. How to submit an amended tax return Su base para calcular pérdidas es el valor justo de mercado cuando recibió la donación más o menos los ajustes requeridos a la base mientras usted tenía los bienes. How to submit an amended tax return Vea Base Ajustada , anteriormente. How to submit an amended tax return Ejemplo. How to submit an amended tax return Usted recibió un acre de terreno como donación. How to submit an amended tax return Al momento de la donación, el terreno tenía un valor justo de mercado de $8,000. How to submit an amended tax return La base ajustada del donante era $10,000. How to submit an amended tax return Después de recibir los bienes, no sucedió nada que aumentara ni disminuyera la base de los mismos. How to submit an amended tax return Si posteriormente usted vende los bienes por $12,000, tendrá una ganancia de $2,000 porque tiene que usar la base ajustada del donante al momento de la donación ($10,000) como base para calcular la ganancia. How to submit an amended tax return Si vende los bienes por $7,000, tendrá una pérdida de $1,000 porque tiene que usar el valor justo de mercado al momento de la donación ($8,000) como base para calcular la pérdida. How to submit an amended tax return Si el precio de venta está entre $8,000 y $10,000, no tiene ganancias ni pérdidas. How to submit an amended tax return Bienes comerciales. How to submit an amended tax return   Si mantiene la donación como bienes comerciales, su base para calcular deducciones por depreciación, agotamiento o amortización es la misma que la base del donante más o menos los ajustes requeridos a la base mientras usted tiene los bienes. How to submit an amended tax return Valor justo de mercado igual o mayor que la base ajustada del donante. How to submit an amended tax return   Si el valor justo de mercado de los bienes es igual o mayor que la base ajustada del donante, la base es la base ajustada del donante al momento en que usted recibió la donación. How to submit an amended tax return Aumente la base por la totalidad o parte de los impuestos sobre donaciones pagados, según la fecha de donación, como se explica más adelante. How to submit an amended tax return   Además, para calcular las pérdidas o ganancias de una venta u otra enajenación o para calcular deducciones por depreciación, agotamiento o amortización sobre bienes comerciales, tiene que aumentar o reducir la base (la base ajustada del donante) por los ajustes requeridos a la base mientras usted tuvo los bienes. How to submit an amended tax return Vea Base Ajustada , anteriormente. How to submit an amended tax return   Si recibió una donación durante el año tributario, aumente la base de la donación (la base ajustada del donante) por la parte del impuesto sobre donaciones pagado sobre esta donación debido al aumento neto en valor de la donación. How to submit an amended tax return Calcule el aumento multiplicando el impuesto pagado sobre la donación por la siguiente fracción. How to submit an amended tax return El numerador de la fracción es el aumento neto del valor de la donación y el denominador es la cantidad de la donación. How to submit an amended tax return   El aumento neto del valor de la donación es el valor justo de mercado de la donación menos la base ajustada del donante. How to submit an amended tax return La cantidad de la donación es el valor para fines del impuesto sobre la donación después de haber sido reducida por toda exclusión anual y deducción conyugal o caritativa que corresponda a la donación. How to submit an amended tax return Ejemplo. How to submit an amended tax return En el año 2013, usted recibió una donación de bienes de su madre que tenía un valor justo de mercado de $50,000. How to submit an amended tax return La base ajustada de su madre era $20,000. How to submit an amended tax return La cantidad de la donación para propósitos del impuesto sobre donaciones era $36,000 ($50,000 menos la exclusión anual de $14,000). How to submit an amended tax return Su madre pagó un impuesto sobre donaciones de $7,320 sobre los bienes. How to submit an amended tax return La base de usted es $26,076, calculada de la siguiente manera: Valor justo de mercado. How to submit an amended tax return $50,000 Menos: Base ajustada −20,000 Aumento neto en valor $30,000     Impuesto sobre la donación pagado $7,320 Multiplicado por ($30,000 ÷ $36,000) × 0. How to submit an amended tax return 83 Impuesto sobre la donación debido al aumento neto en valor $6,076 Base ajustada de los bienes para su madre +20,000 La base de los bienes para usted $26,076 Nota: Si recibió una donación antes de 1977, la base de la donación para usted (la base ajustada del donante) incluye todos los impuestos sobre donaciones pagados sobre ésta. How to submit an amended tax return Sin embargo, la base no puede ser mayor que el valor justo de mercado de la donación al momento en que se le dio a usted. How to submit an amended tax return Bienes Heredados Su base en bienes heredados de un difunto que falleció antes del 1 de enero de 2010 o después del 31 de diciembre de 2010, es normalmente uno de los siguientes: El valor justo de mercado de los bienes en la fecha de muerte del difunto. How to submit an amended tax return El valor justo de mercado en la fecha de valuación alternativa si el representante personal del caudal hereditario elige usar una valuación alternativa. How to submit an amended tax return El valor según el método de valuación de uso especial para bienes raíces usados en actividades agrícolas o en el ejercicio de un negocio estrechamente controlado por pocos accionistas si se elige para propósitos del impuesto sobre la herencia. How to submit an amended tax return La base ajustada del terreno del difunto hasta el valor excluido de la herencia sujeto a impuestos del difunto como una servidumbre de conservación calificada. How to submit an amended tax return Si no hay que presentar una declaración del impuesto federal sobre la herencia, la base de los bienes heredados es el valor tasado en la fecha de fallecimiento para los impuestos estatales sobre la herencia o la transmisión. How to submit an amended tax return Para obtener más información, consulte las Instrucciones del Formulario 706, United States Estate (and Generation-Skipping Transfer) Tax Return (Declaración del impuesto sobre el patrimonio (y transferencia con salto de generación) de los Estados Unidos), en inglés. How to submit an amended tax return Bienes heredados de un difunto que falleció en 2010. How to submit an amended tax return   Si heredó bienes de un difunto que falleció en 2010, pueden aplicarse requisitos especiales. How to submit an amended tax return Para más información, vea la Publicación 4895, Tax Treatment of Property Acquired From a Decedent Dying in 2010 (Trato tributario de bienes adquiridos de un difunto que falleció en 2010), en inglés. How to submit an amended tax return Bienes gananciales. How to submit an amended tax return   En las jurisdicciones donde rigen las leyes de la comunidad de bienes gananciales (Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington y Wisconsin), se considera generalmente que cada cónyuge posee la mitad de los bienes gananciales. How to submit an amended tax return Al fallecer cualquiera de los cónyuges, el total del valor de los bienes gananciales, aún la parte que le pertenece al cónyuge sobreviviente, normalmente se convierte en la base de la totalidad de los bienes. How to submit an amended tax return Para que esta regla corresponda, por lo menos la mitad del valor de los bienes gananciales tiene que poderse incluir en el patrimonio bruto del difunto, independientemente de si se tiene que presentar o no una declaración sobre la herencia. How to submit an amended tax return Ejemplo. How to submit an amended tax return   Usted y su cónyuge tenían bienes gananciales cuya base era $80,000. How to submit an amended tax return Cuando su cónyuge falleció, la mitad del valor justo de mercado de los bienes gananciales era incluible en el patrimonio de su cónyuge. How to submit an amended tax return El valor justo de mercado de los intereses de los bienes gananciales era $100,000. How to submit an amended tax return La base de su mitad de los bienes después de la muerte de su cónyuge es $50,000 (la mitad del valor justo de mercado de $100,000). How to submit an amended tax return La base de la otra mitad que se pasa a los herederos de su cónyuge también es $50,000. How to submit an amended tax return   Para más información, vea la Publicación 555, Community Property (Comunidad de bienes gananciales), en inglés. How to submit an amended tax return Bienes de Uso Personal Cambiados a Uso Comercial o de Alquiler Si tiene bienes para uso personal y luego los cambia a uso comercial o los usa para producir ingresos de alquiler, puede empezar a depreciar dichos bienes al momento del cambio. How to submit an amended tax return Para hacerlo, tiene que calcular la base para propósitos de depreciación al momento del cambio. How to submit an amended tax return Un ejemplo de un cambio de bienes de uso personal a uso comercial o de alquiler sería alquilar su antigua vivienda personal. How to submit an amended tax return Base para propósitos de depreciación. How to submit an amended tax return   La base para depreciación es la menor de las siguientes cantidades: El valor justo de mercado de los bienes en la fecha del cambio. How to submit an amended tax return La base ajustada en la fecha del cambio. How to submit an amended tax return Ejemplo. How to submit an amended tax return Hace varios años, usted pagó $160,000 por construir su casa en un terreno que costó $25,000. How to submit an amended tax return Pagó $20,000 por mejoras permanentes a la vivienda y declaró una deducción por pérdidas fortuitas de $2,000 por daños a la vivienda antes de cambiar los bienes a uso de alquiler el año pasado. How to submit an amended tax return Como el terreno no es depreciable, usted incluye sólo el costo de la vivienda al calcular la base para propósitos de determinar depreciación. How to submit an amended tax return Su base ajustada en la vivienda, cuando cambió su uso, era $178,000 ($160,000 + $20,000 − $2,000). How to submit an amended tax return En la misma fecha, su propiedad tenía un valor justo de mercado de $180,000, del cual $15,000 correspondían al terreno y $165,000 a la vivienda. How to submit an amended tax return La base para calcular la depreciación de la vivienda es el valor justo de mercado en la fecha del cambio ($165,000) ya que es menor que la base ajustada ($178,000). How to submit an amended tax return Venta de bienes. How to submit an amended tax return   Si en el futuro usted vende o enajena los bienes cambiados a uso comercial o de alquiler, la base que use dependerá de si calcula pérdidas o ganancias. How to submit an amended tax return Ganancia. How to submit an amended tax return   La base para calcular una ganancia es la base ajustada de los bienes en el momento de la venta. How to submit an amended tax return Ejemplo. How to submit an amended tax return Suponga los mismos hechos que en el ejemplo anterior, excepto que usted vende los bienes obteniendo una ganancia después de descontar $37,500 por concepto de deducciones por depreciación. How to submit an amended tax return Su base ajustada para calcular la ganancia es $165,500 ($178,000 + $25,000 (terreno) − $37,500). How to submit an amended tax return Pérdida. How to submit an amended tax return   Calcule la base para una pérdida empezando con la base ajustada o el valor justo de mercado de los bienes al momento del cambio a uso comercial o de alquiler, el que sea menor. How to submit an amended tax return Luego haga ajustes (aumentos y reducciones) para el período después del cambio de uso de los bienes, como se explicó anteriormente bajo Base Ajustada . How to submit an amended tax return Ejemplo. How to submit an amended tax return Suponga los mismos hechos que en el ejemplo anterior, excepto que usted vende los bienes con pérdida después de descontar $37,500 por concepto de deducciones por depreciación. How to submit an amended tax return En este caso, empezaría con el valor justo de mercado en la fecha del cambio a uso de alquiler ($180,000), ya que es menor que la base ajustada de $203,000 ($178,000 + $25,000 (terreno)) en esa fecha. How to submit an amended tax return Reste de esa cantidad ($180,000) las deducciones por depreciación ($37,500). How to submit an amended tax return La base para pérdidas es $142,500 ($180,000 − $37,500). How to submit an amended tax return Acciones y Bonos La base de acciones o bonos que usted compre, por lo general, es el precio de compra más los costos de la compra, como comisiones y costos de registro o de traspaso. How to submit an amended tax return Si obtiene acciones o bonos por un medio que no sea la compra, la base suele determinarse por el valor justo de mercado o la base ajustada del propietario anterior, como se explica anteriormente. How to submit an amended tax return Tiene que ajustar la base de las acciones según ciertos hechos que sucedan después de la compra. How to submit an amended tax return Por ejemplo, si recibe acciones adicionales de dividendos de acciones no sujetas a impuestos o divisiones de acciones, reduzca la base para cada acción, dividiendo la base ajustada de las acciones antiguas entre el número de acciones antiguas y nuevas. How to submit an amended tax return Esta regla se aplica sólo cuando el número de acciones adicionales recibidas es idéntico al número de acciones tenidas. How to submit an amended tax return Además, reduzca la base cuando reciba distribuciones no sujetas a impuestos. How to submit an amended tax return Son un rendimiento de capital. How to submit an amended tax return Ejemplo. How to submit an amended tax return En el año 2011, compró 100 acciones de XYZ por $1,000, o sea, a $10 por acción. How to submit an amended tax return En el año 2012, compró 100 acciones de XYZ por $1,600, o sea, a $16 por acción. How to submit an amended tax return En el año 2013, XYZ declaró una división de acciones de 2 por 1. How to submit an amended tax return Ahora tiene 200 acciones con una base de $5 por acción y 200 acciones con una base de $8 por acción. How to submit an amended tax return Otras bases. How to submit an amended tax return   Existen otras maneras de calcular la base de acciones o bonos, según cómo los adquirió. How to submit an amended tax return Para obtener información más detallada, consulte Stocks and Bonds (Acciones y bonos) bajo Basis of Investment Property (Base de bienes de inversión) en el capítulo 4 de la Publicación 550, en inglés. How to submit an amended tax return Cómo identificar acciones o bonos vendidos. How to submit an amended tax return   Si puede identificar correctamente las acciones o los bonos que vendió, entonces la base de éstos es el costo u otra base de las acciones o bonos específicos. How to submit an amended tax return Si compra y vende valores en fechas distintas y en cantidades distintas y no puede identificar correctamente las acciones vendidas, entonces la base de los valores que venda es la base de los valores que adquirió primero. How to submit an amended tax return Para obtener más información sobre cómo identificar los valores que venda, consulte Stocks and Bonds (Acciones y bonos) bajo Basis of Investment Property (Base de bienes de inversión) en el capítulo 4 de la Publicación 550, en inglés. How to submit an amended tax return Acciones de fondos mutuos. How to submit an amended tax return   Si vende acciones de fondos mutuos que adquirió en fechas distintas y a precios distintos, y que dejó en depósito en una cuenta mantenida por un custodio o agente, puede optar por usar una base promedio. How to submit an amended tax return Para obtener más información, consulte la Publicación 550, en inglés. How to submit an amended tax return Prima de bonos. How to submit an amended tax return   Si compra un bono sujeto a impuestos con prima (o sea, a un precio que excede su valor nominal) y elige amortizarla, reste de la base del bono la prima amortizada que deduzca cada año. How to submit an amended tax return Para obtener más información, consulte Bond Premium Amortization (Amortización de primas de bonos) en el capítulo 3 de la Publicación 550, en inglés. How to submit an amended tax return Aunque no puede deducir la prima sobre un bono exento de impuestos, tiene que amortizar la prima cada año y restar la cantidad amortizada de la base del bono. How to submit an amended tax return Descuento de la emisión original (OID) sobre instrumentos de deuda. How to submit an amended tax return   Tiene que aumentar la base de un instrumento de deuda de un descuento de la emisión original (OID, por sus siglas en inglés) por el OID que incluya en sus ingresos por ese instrumento. How to submit an amended tax return Consulte Descuento de la emisión original (OID) en el capítulo 7 y la Publicación 1212, Guide to Original Issue Discount (OID) Instruments (Guía de instrumentos del descuento de la emisión original (OID)), en inglés. How to submit an amended tax return Obligaciones exentas de impuestos. How to submit an amended tax return    Por lo general, el OID sobre las obligaciones exentas de impuestos no está sujeto a impuestos. How to submit an amended tax return Sin embargo, cuando enajene una obligación exenta de impuestos emitida después del 3 de septiembre de 1982 y comprada después del 1 de marzo de 1984, tiene que acumular el OID sobre la obligación para determinar su base ajustada. How to submit an amended tax return El OID acumulado se suma a la base de la obligación para determinar su pérdida o ganancia. How to submit an amended tax return Consulte el cápitulo 4 de la Publicación 550, en inglés. How to submit an amended tax return Prev  Up  Next   Home   More Online Publications

The How To Submit An Amended Tax Return

How to submit an amended tax return 25. How to submit an amended tax return   Nonbusiness Casualty and Theft Losses Table of Contents What's New Introduction Useful Items - You may want to see: CasualtyFamily pet. How to submit an amended tax return Progressive deterioration. How to submit an amended tax return Damage from corrosive drywall. How to submit an amended tax return Theft Loss on Deposits Proof of Loss Figuring a LossDecrease in Fair Market Value Adjusted Basis Insurance and Other Reimbursements Single Casualty on Multiple Properties Deduction Limits$100 Rule 10% Rule When To Report Gains and LossesDisaster Area Loss How To Report Gains and Losses What's New New Section C of Form 4684 for Ponzi-type investment schemes. How to submit an amended tax return  Section C of Form 4684 is new for 2013. How to submit an amended tax return You must complete Section C if you are claiming a theft loss deduction due to a Ponzi-type investment scheme and are using Revenue Procedure 2009-20, as modified by Revenue Procedure 2011-58. How to submit an amended tax return Section C of Form 4684 replaces Appendix A in Revenue Procedure 2009-20. How to submit an amended tax return You do not need to complete Appendix A. How to submit an amended tax return For details, see Losses from Ponzi-type investment schemes , in this chapter. How to submit an amended tax return Introduction This chapter explains the tax treatment of personal (not business or investment related) casualty losses, theft losses, and losses on deposits. How to submit an amended tax return The chapter also explains the following  topics. How to submit an amended tax return How to figure the amount of your loss. How to submit an amended tax return How to treat insurance and other reimbursements you receive. How to submit an amended tax return The deduction limits. How to submit an amended tax return When and how to report a casualty or theft. How to submit an amended tax return Forms to file. How to submit an amended tax return    When you have a casualty or theft, you have to file Form 4684. How to submit an amended tax return You will also have to file one or more of the following forms. How to submit an amended tax return Schedule A (Form 1040), Itemized Deductions Schedule D (Form 1040), Capital Gains and Losses Condemnations. How to submit an amended tax return   For information on condemnations of property, see Involuntary Conversions in chapter 1 of Publication 544, Sales and Other Disposition of Assets. How to submit an amended tax return Workbook for casualties and thefts. How to submit an amended tax return    Publication 584 is available to help you make a list of your stolen or damaged personal-use property and figure your loss. How to submit an amended tax return It includes schedules to help you figure the loss on your home, its contents, and your motor vehicles. How to submit an amended tax return Business or investment-related losses. How to submit an amended tax return   For information on a casualty or theft loss of business or income-producing property, see Publication 547, Casualties, Disasters, and Thefts. How to submit an amended tax return Useful Items - You may want to see: Publication 544 Sales and Other Dispositions  of Assets 547 Casualties, Disasters, and   Thefts 584 Casualty, Disaster, and Theft   Loss Workbook (Personal-Use  Property) Form (and Instructions) Schedule A (Form 1040) Itemized Deductions Schedule D (Form 1040) Capital Gains and Losses 4684 Casualties and Thefts Casualty A casualty is the damage, destruction, or loss of property resulting from an identifiable event that is sudden, unexpected, or unusual. How to submit an amended tax return A sudden event is one that is swift, not gradual or progressive. How to submit an amended tax return An unexpected event is one that is ordinarily unanticipated and unintended. How to submit an amended tax return An unusual event is one that is not a day-to-day occurrence and that is not typical of the activity in which you were engaged. How to submit an amended tax return Deductible losses. How to submit an amended tax return   Deductible casualty losses can result from a number of different causes, including the following. How to submit an amended tax return Car accidents (but see Nondeductible losses , next, for exceptions). How to submit an amended tax return Earthquakes. How to submit an amended tax return Fires (but see Nondeductible losses , next, for exceptions). How to submit an amended tax return Floods. How to submit an amended tax return Government-ordered demolition or relocation of a home that is unsafe to use because of a disaster as discussed under Disaster Area Losses in Publication 547. How to submit an amended tax return Mine cave-ins. How to submit an amended tax return Shipwrecks. How to submit an amended tax return Sonic booms. How to submit an amended tax return Storms, including hurricanes and tornadoes. How to submit an amended tax return Terrorist attacks. How to submit an amended tax return Vandalism. How to submit an amended tax return Volcanic eruptions. How to submit an amended tax return Nondeductible losses. How to submit an amended tax return   A casualty loss is not deductible if the damage or destruction is caused by the following. How to submit an amended tax return Accidentally breaking articles such as glassware or china under normal conditions. How to submit an amended tax return A family pet (explained below). How to submit an amended tax return A fire if you willfully set it or pay someone else to set it. How to submit an amended tax return A car accident if your willful negligence or willful act caused it. How to submit an amended tax return The same is true if the willful act or willful negligence of someone acting for you caused the accident. How to submit an amended tax return Progressive deterioration (explained later). How to submit an amended tax return Family pet. How to submit an amended tax return   Loss of property due to damage by a family pet is not deductible as a casualty loss unless the requirements discussed earlier under Casualty are met. How to submit an amended tax return Example. How to submit an amended tax return Your antique oriental rug was damaged by your new puppy before it was housebroken. How to submit an amended tax return Because the damage was not unexpected and unusual, the loss is not deductible as a casualty loss. How to submit an amended tax return Progressive deterioration. How to submit an amended tax return    Loss of property due to progressive deterioration is not deductible as a casualty loss. How to submit an amended tax return This is because the damage results from a steadily operating cause or a normal process, rather than from a sudden event. How to submit an amended tax return The following are examples of damage due to progressive deterioration. How to submit an amended tax return The steady weakening of a building due to normal wind and weather conditions. How to submit an amended tax return The deterioration and damage to a water heater that bursts. How to submit an amended tax return However, the rust and water damage to rugs and drapes caused by the bursting of a water heater does qualify as a casualty. How to submit an amended tax return Most losses of property caused by droughts. How to submit an amended tax return To be deductible, a drought-related loss generally must be incurred in a trade or business or in a transaction entered into for profit. How to submit an amended tax return Termite or moth damage. How to submit an amended tax return The damage or destruction of trees, shrubs, or other plants by a fungus, disease, insects, worms, or similar pests. How to submit an amended tax return However, a sudden destruction due to an unexpected or unusual infestation of beetles or other insects may result in a casualty loss. How to submit an amended tax return Damage from corrosive drywall. How to submit an amended tax return   Under a special procedure, you may be able to claim a casualty loss deduction for amounts you paid to repair damage to your home and household appliances that resulted from corrosive drywall. How to submit an amended tax return For details, see Publication 547. How to submit an amended tax return Theft A theft is the taking and removing of money or property with the intent to deprive the owner of it. How to submit an amended tax return The taking of property must be illegal under the laws of the state where it occurred and it must have been done with criminal intent. How to submit an amended tax return You do not need to show a conviction for theft. How to submit an amended tax return Theft includes the taking of money or property by the following means. How to submit an amended tax return Blackmail. How to submit an amended tax return Burglary. How to submit an amended tax return Embezzlement. How to submit an amended tax return Extortion. How to submit an amended tax return Kidnapping for ransom. How to submit an amended tax return Larceny. How to submit an amended tax return Robbery. How to submit an amended tax return The taking of money or property through fraud or misrepresentation is theft if it is illegal under state or local law. How to submit an amended tax return Decline in market value of stock. How to submit an amended tax return   You cannot deduct as a theft loss the decline in market value of stock acquired on the open market for investment if the decline is caused by disclosure of accounting fraud or other illegal misconduct by the officers or directors of the corporation that issued the stock. How to submit an amended tax return However, you can deduct as a capital loss the loss you sustain when you sell or exchange the stock or the stock becomes completely worthless. How to submit an amended tax return You report a capital loss on Schedule D (Form 1040). How to submit an amended tax return For more information about stock sales, worthless stock, and capital losses, see chapter 4 of Publication 550. How to submit an amended tax return Mislaid or lost property. How to submit an amended tax return   The simple disappearance of money or property is not a theft. How to submit an amended tax return However, an accidental loss or disappearance of property can qualify as a casualty if it results from an identifiable event that is sudden, unexpected, or unusual. How to submit an amended tax return Sudden, unexpected, and unusual events are defined earlier. How to submit an amended tax return Example. How to submit an amended tax return A car door is accidentally slammed on your hand, breaking the setting of your diamond ring. How to submit an amended tax return The diamond falls from the ring and is never found. How to submit an amended tax return The loss of the diamond is a casualty. How to submit an amended tax return Losses from Ponzi-type investment schemes. How to submit an amended tax return   If you had a loss from a Ponzi-type investment scheme, see: Revenue Ruling 2009-9, 2009-14 I. How to submit an amended tax return R. How to submit an amended tax return B. How to submit an amended tax return 735 (available at www. How to submit an amended tax return irs. How to submit an amended tax return gov/irb/2009-14_IRB/ar07. How to submit an amended tax return html). How to submit an amended tax return Revenue Procedure 2009-20, 2009-14 I. How to submit an amended tax return R. How to submit an amended tax return B. How to submit an amended tax return 749 (available at www. How to submit an amended tax return irs. How to submit an amended tax return gov/irb/2009-14_IRB/ar11. How to submit an amended tax return html). How to submit an amended tax return Revenue Procedure 2011-58, 2011-50 I. How to submit an amended tax return R. How to submit an amended tax return B. How to submit an amended tax return 849 (available at www. How to submit an amended tax return irs. How to submit an amended tax return gov/irb/2011-50_IRB/ar11. How to submit an amended tax return html). How to submit an amended tax return If you qualify to use Revenue Procedure 2009-20, as modified by Revenue Procedure 2011-58, and you choose to follow the procedures in the guidance, first fill out Section C of Form 4684 to determine the amount to enter on Section B, line 28. How to submit an amended tax return Skip lines 19 to 27. How to submit an amended tax return Section C of Form 4684 replaces Appendix A in Revenue Procedure 2009-20. How to submit an amended tax return You do not need to complete Appendix A. How to submit an amended tax return For more information, see the above revenue ruling and revenue procedures, and the Instructions for Form 4684. How to submit an amended tax return   If you choose not to use the procedures in Revenue Procedure 2009-20, you may claim your theft loss by filling out Section B, lines 19 to 39, as appropriate. How to submit an amended tax return Loss on Deposits A loss on deposits can occur when a bank, credit union, or other financial institution becomes insolvent or bankrupt. How to submit an amended tax return If you incurred this type of loss, you can choose one of the following ways to deduct the loss. How to submit an amended tax return As a casualty loss. How to submit an amended tax return As an ordinary loss. How to submit an amended tax return As a nonbusiness bad debt. How to submit an amended tax return Casualty loss or ordinary loss. How to submit an amended tax return   You can choose to deduct a loss on deposits as a casualty loss or as an ordinary loss for any year in which you can reasonably estimate how much of your deposits you have lost in an insolvent or bankrupt financial institution. How to submit an amended tax return The choice is generally made on the return you file for that year and applies to all your losses on deposits for the year in that particular financial institution. How to submit an amended tax return If you treat the loss as a casualty or ordinary loss, you cannot treat the same amount of the loss as a nonbusiness bad debt when it actually becomes worthless. How to submit an amended tax return However, you can take a nonbusiness bad debt deduction for any amount of loss that is more than the estimated amount you deducted as a casualty or ordinary loss. How to submit an amended tax return Once you make this choice, you cannot change it without permission from the Internal Revenue Service. How to submit an amended tax return   If you claim an ordinary loss, report it as a miscellaneous itemized deduction on Schedule A (Form 1040), line 23. How to submit an amended tax return The maximum amount you can claim is $20,000 ($10,000 if you are married filing separately) reduced by any expected state insurance proceeds. How to submit an amended tax return Your loss is subject to the 2%-of-adjusted-gross-income limit. How to submit an amended tax return You cannot choose to claim an ordinary loss if any part of the deposit is federally insured. How to submit an amended tax return Nonbusiness bad debt. How to submit an amended tax return   If you do not choose to deduct the loss as a casualty loss or as an ordinary loss, you must wait until the year the actual loss is determined and deduct the loss as a nonbusiness bad debt in that year. How to submit an amended tax return How to report. How to submit an amended tax return   The kind of deduction you choose for your loss on deposits determines how you report your loss. How to submit an amended tax return If you choose: Casualty loss — report it on Form 4684 first and then on Schedule A (Form 1040). How to submit an amended tax return Ordinary loss — report it on Schedule A (Form 1040) as a miscellaneous itemized deduction. How to submit an amended tax return Nonbusiness bad debt — report it on Form 8949 first and then on Schedule D (Form 1040). How to submit an amended tax return More information. How to submit an amended tax return   For more information, see Special Treatment for Losses on Deposits in Insolvent or Bankrupt Financial Institutions in the Instructions for Form 4684 or Deposit in Insolvent or Bankrupt Financial Institution in Publication 550. How to submit an amended tax return Proof of Loss To deduct a casualty or theft loss, you must be able to prove that you had a casualty or theft. How to submit an amended tax return You also must be able to support the amount you take as a deduction. How to submit an amended tax return Casualty loss proof. How to submit an amended tax return   For a casualty loss, your records should show all the following. How to submit an amended tax return The type of casualty (car accident, fire, storm, etc. How to submit an amended tax return ) and when it occurred. How to submit an amended tax return That the loss was a direct result of the casualty. How to submit an amended tax return That you were the owner of the property or, if you leased the property from someone else, that you were contractually liable to the owner for the damage. How to submit an amended tax return Whether a claim for reimbursement exists for which there is a reasonable expectation of recovery. How to submit an amended tax return Theft loss proof. How to submit an amended tax return   For a theft loss, your records should show all the following. How to submit an amended tax return When you discovered that your property was missing. How to submit an amended tax return That your property was stolen. How to submit an amended tax return That you were the owner of the property. How to submit an amended tax return Whether a claim for reimbursement exists for which there is a reasonable expectation of recovery. How to submit an amended tax return It is important that you have records that will prove your deduction. How to submit an amended tax return If you do not have the actual records to support your deduction, you can use other satisfactory evidence to support it. How to submit an amended tax return Figuring a Loss Figure the amount of your loss using the following steps. How to submit an amended tax return Determine your adjusted basis in the property before the casualty or theft. How to submit an amended tax return Determine the decrease in fair market value of the property as a result of the casualty or theft. How to submit an amended tax return From the smaller of the amounts you determined in (1) and (2), subtract any insurance or other reimbursement you received or expect to receive. How to submit an amended tax return For personal-use property and property used in performing services as an employee, apply the deduction limits, discussed later, to determine the amount of your deductible loss. How to submit an amended tax return Gain from reimbursement. How to submit an amended tax return   If your reimbursement is more than your adjusted basis in the property, you have a gain. How to submit an amended tax return This is true even if the decrease in the FMV of the property is smaller than your adjusted basis. How to submit an amended tax return If you have a gain, you may have to pay tax on it, or you may be able to postpone reporting the gain. How to submit an amended tax return See Publication 547 for more information on how to treat a gain from a reimbursement for a casualty or theft. How to submit an amended tax return Leased property. How to submit an amended tax return   If you are liable for casualty damage to property you lease, your loss is the amount you must pay to repair the property minus any insurance or other reimbursement you receive or expect to receive. How to submit an amended tax return Decrease in Fair Market Value Fair market value (FMV) is the price for which you could sell your property to a willing buyer when neither of you has to sell or buy and both of you know all the relevant facts. How to submit an amended tax return The decrease in FMV used to figure the amount of a casualty or theft loss is the difference between the property's fair market value immediately before and immediately after the casualty or theft. How to submit an amended tax return FMV of stolen property. How to submit an amended tax return   The FMV of property immediately after a theft is considered to be zero, since you no longer have the property. How to submit an amended tax return Example. How to submit an amended tax return Several years ago, you purchased silver dollars at face value for $150. How to submit an amended tax return This is your adjusted basis in the property. How to submit an amended tax return Your silver dollars were stolen this year. How to submit an amended tax return The FMV of the coins was $1,000 just before they were stolen, and insurance did not cover them. How to submit an amended tax return Your theft loss is $150. How to submit an amended tax return Recovered stolen property. How to submit an amended tax return   Recovered stolen property is your property that was stolen and later returned to you. How to submit an amended tax return If you recovered property after you had already taken a theft loss deduction, you must refigure your loss using the smaller of the property's adjusted basis (explained later) or the decrease in FMV from the time just before it was stolen until the time it was recovered. How to submit an amended tax return Use this amount to refigure your total loss for the year in which the loss was deducted. How to submit an amended tax return   If your refigured loss is less than the loss you deducted, you generally have to report the difference as income in the recovery year. How to submit an amended tax return But report the difference only up to the amount of the loss that reduced your tax. How to submit an amended tax return For more information on the amount to report, see Recoveries in chapter 12. How to submit an amended tax return Figuring Decrease in FMV— Items To Consider To figure the decrease in FMV because of a casualty or theft, you generally need a competent appraisal. How to submit an amended tax return However, other measures can also be used to establish certain decreases. How to submit an amended tax return Appraisal. How to submit an amended tax return   An appraisal to determine the difference between the FMV of the property immediately before a casualty or theft and immediately afterward should be made by a competent appraiser. How to submit an amended tax return The appraiser must recognize the effects of any general market decline that may occur along with the casualty. How to submit an amended tax return This information is needed to limit any deduction to the actual loss resulting from damage to the property. How to submit an amended tax return   Several factors are important in evaluating the accuracy of an appraisal, including the following. How to submit an amended tax return The appraiser's familiarity with your property before and after the casualty or theft. How to submit an amended tax return The appraiser's knowledge of sales of comparable property in the area. How to submit an amended tax return The appraiser's knowledge of conditions in the area of the casualty. How to submit an amended tax return The appraiser's method of appraisal. How to submit an amended tax return    You may be able to use an appraisal that you used to get a federal loan (or a federal loan guarantee) as the result of a federally declared disaster to establish the amount of your disaster loss. How to submit an amended tax return For more information on disasters, see Disaster Area Losses, in Pub. How to submit an amended tax return 547. How to submit an amended tax return Cost of cleaning up or making repairs. How to submit an amended tax return   The cost of repairing damaged property is not part of a casualty loss. How to submit an amended tax return Neither is the cost of cleaning up after a casualty. How to submit an amended tax return But you can use the cost of cleaning up or making repairs after a casualty as a measure of the decrease in FMV if you meet all the following conditions. How to submit an amended tax return The repairs are actually made. How to submit an amended tax return The repairs are necessary to bring the property back to its condition before the casualty. How to submit an amended tax return The amount spent for repairs is not excessive. How to submit an amended tax return The repairs take care of the damage only. How to submit an amended tax return The value of the property after the repairs is not, due to the repairs, more than the value of the property before the casualty. How to submit an amended tax return Landscaping. How to submit an amended tax return   The cost of restoring landscaping to its original condition after a casualty may indicate the decrease in FMV. How to submit an amended tax return You may be able to measure your loss by what you spend on the following. How to submit an amended tax return Removing destroyed or damaged trees and shrubs minus any salvage you receive. How to submit an amended tax return Pruning and other measures taken to preserve damaged trees and shrubs. How to submit an amended tax return Replanting necessary to restore the property to its approximate value before the casualty. How to submit an amended tax return Car value. How to submit an amended tax return    Books issued by various automobile organizations that list your car may be useful in figuring the value of your car. How to submit an amended tax return You can use the book's retail values and modify them by such factors as mileage and the condition of your car to figure its value. How to submit an amended tax return The prices are not official, but they may be useful in determining value and suggesting relative prices for comparison with current sales and offerings in your area. How to submit an amended tax return If your car is not listed in the books, determine its value from other sources. How to submit an amended tax return A dealer's offer for your car as a trade-in on a new car is not usually a measure of its true value. How to submit an amended tax return Figuring Decrease in FMV— Items Not To Consider You generally should not consider the following items when attempting to establish the decrease in FMV of your property. How to submit an amended tax return Cost of protection. How to submit an amended tax return   The cost of protecting your property against a casualty or theft is not part of a casualty or theft loss. How to submit an amended tax return The amount you spend on insurance or to board up your house against a storm is not part of your loss. How to submit an amended tax return   If you make permanent improvements to your property to protect it against a casualty or theft, add the cost of these improvements to your basis in the property. How to submit an amended tax return An example would be the cost of a dike to prevent flooding. How to submit an amended tax return Exception. How to submit an amended tax return   You cannot increase your basis in the property by, or deduct as a business expense, any expenditures you made with respect to qualified disaster mitigation payments. How to submit an amended tax return See Disaster Area Losses in Publication 547. How to submit an amended tax return Incidental expenses. How to submit an amended tax return   Any incidental expenses you have due to a casualty or theft, such as expenses for the treatment of personal injuries, for temporary housing, or for a rental car, are not part of your casualty or theft loss. How to submit an amended tax return Replacement cost. How to submit an amended tax return   The cost of replacing stolen or destroyed property is not part of a casualty or theft loss. How to submit an amended tax return Sentimental value. How to submit an amended tax return   Do not consider sentimental value when determining your loss. How to submit an amended tax return If a family portrait, heirloom, or keepsake is damaged, destroyed, or stolen, you must base your loss on its FMV, as limited by your adjusted basis in the property. How to submit an amended tax return Decline in market value of property in or near casualty area. How to submit an amended tax return   A decrease in the value of your property because it is in or near an area that suffered a casualty, or that might again suffer a casualty, is not to be taken into consideration. How to submit an amended tax return You have a loss only for actual casualty damage to your property. How to submit an amended tax return However, if your home is in a federally declared disaster area, see Disaster Area Losses in Publication 547. How to submit an amended tax return Costs of photographs and appraisals. How to submit an amended tax return    Photographs taken after a casualty will be helpful in establishing the condition and value of the property after it was damaged. How to submit an amended tax return Photographs showing the condition of the property after it was repaired, restored, or replaced may also be helpful. How to submit an amended tax return    Appraisals are used to figure the decrease in FMV because of a casualty or theft. How to submit an amended tax return See Appraisal , earlier, under Figuring Decrease in FMV — Items To Consider, for information about appraisals. How to submit an amended tax return   The costs of photographs and appraisals used as evidence of the value and condition of property damaged as a result of a casualty are not a part of the loss. How to submit an amended tax return You can claim these costs as a miscellaneous itemized deduction subject to the 2%-of-adjusted-gross-income limit on Schedule A (Form 1040). How to submit an amended tax return For information about miscellaneous deductions, see chapter 28. How to submit an amended tax return Adjusted Basis Adjusted basis is your basis in the property (usually cost) increased or decreased by various events, such as improvements and casualty losses. How to submit an amended tax return For more information, see chapter 13. How to submit an amended tax return Insurance and Other Reimbursements If you receive an insurance payment or other type of reimbursement, you must subtract the reimbursement when you figure your loss. How to submit an amended tax return You do not have a casualty or theft loss to the extent you are reimbursed. How to submit an amended tax return If you expect to be reimbursed for part or all of your loss, you must subtract the expected reimbursement when you figure your loss. How to submit an amended tax return You must reduce your loss even if you do not receive payment until a later tax year. How to submit an amended tax return See Reimbursement Received After Deducting Loss , later. How to submit an amended tax return Failure to file a claim for reimbursement. How to submit an amended tax return   If your property is covered by insurance, you must file a timely insurance claim for reimbursement of your loss. How to submit an amended tax return Otherwise, you cannot deduct this loss as a casualty or theft loss. How to submit an amended tax return However, this rule does not apply to the portion of the loss not covered by insurance (for example, a deductible). How to submit an amended tax return Example. How to submit an amended tax return You have a car insurance policy with a $1,000 deductible. How to submit an amended tax return Because your insurance did not cover the first $1,000 of an auto collision, the $1,000 would be deductible (subject to the deduction limits discussed later). How to submit an amended tax return This is true even if you do not file an insurance claim, because your insurance policy would never have reimbursed you for the deductible. How to submit an amended tax return Types of Reimbursements The most common type of reimbursement is an insurance payment for your stolen or damaged property. How to submit an amended tax return Other types of reimbursements are discussed next. How to submit an amended tax return Also see the Instructions for Form 4684. How to submit an amended tax return Employer's emergency disaster fund. How to submit an amended tax return   If you receive money from your employer's emergency disaster fund and you must use that money to rehabilitate or replace property on which you are claiming a casualty loss deduction, you must take that money into consideration in computing the casualty loss deduction. How to submit an amended tax return Take into consideration only the amount you used to replace your destroyed or damaged property. How to submit an amended tax return Example. How to submit an amended tax return Your home was extensively damaged by a tornado. How to submit an amended tax return Your loss after reimbursement from your insurance company was $10,000. How to submit an amended tax return Your employer set up a disaster relief fund for its employees. How to submit an amended tax return Employees receiving money from the fund had to use it to rehabilitate or replace their damaged or destroyed property. How to submit an amended tax return You received $4,000 from the fund and spent the entire amount on repairs to your home. How to submit an amended tax return In figuring your casualty loss, you must reduce your unreimbursed loss ($10,000) by the $4,000 you received from your employer's fund. How to submit an amended tax return Your casualty loss before applying the deduction limits discussed later is $6,000. How to submit an amended tax return Cash gifts. How to submit an amended tax return   If you receive excludable cash gifts as a disaster victim and there are no limits on how you can use the money, you do not reduce your casualty loss by these excludable cash gifts. How to submit an amended tax return This applies even if you use the money to pay for repairs to property damaged in the disaster. How to submit an amended tax return Example. How to submit an amended tax return Your home was damaged by a hurricane. How to submit an amended tax return Relatives and neighbors made cash gifts to you that were excludable from your income. How to submit an amended tax return You used part of the cash gifts to pay for repairs to your home. How to submit an amended tax return There were no limits or restrictions on how you could use the cash gifts. How to submit an amended tax return Because it was an excludable gift, the money you received and used to pay for repairs to your home does not reduce your casualty loss on the damaged home. How to submit an amended tax return Insurance payments for living expenses. How to submit an amended tax return   You do not reduce your casualty loss by insurance payments you receive to cover living expenses in either of the following situations. How to submit an amended tax return You lose the use of your main home because of a casualty. How to submit an amended tax return Government authorities do not allow you access to your main home because of a casualty or threat of one. How to submit an amended tax return Inclusion in income. How to submit an amended tax return   If these insurance payments are more than the temporary increase in your living expenses, you must include the excess in your income. How to submit an amended tax return Report this amount on Form 1040, line 21. How to submit an amended tax return However, if the casualty occurs in a federally declared disaster area, none of the insurance payments are taxable. How to submit an amended tax return See Qualified disaster relief payments, under Disaster Area Losses in Publication 547. How to submit an amended tax return   A temporary increase in your living expenses is the difference between the actual living expenses you and your family incurred during the period you could not use your home and your normal living expenses for that period. How to submit an amended tax return Actual living expenses are the reasonable and necessary expenses incurred because of the loss of your main home. How to submit an amended tax return Generally, these expenses include the amounts you pay for the following. How to submit an amended tax return Rent for suitable housing. How to submit an amended tax return Transportation. How to submit an amended tax return Food. How to submit an amended tax return Utilities. How to submit an amended tax return Miscellaneous services. How to submit an amended tax return Normal living expenses consist of these same expenses that you would have incurred but did not because of the casualty or the threat of one. How to submit an amended tax return Example. How to submit an amended tax return As a result of a fire, you vacated your apartment for a month and moved to a motel. How to submit an amended tax return You normally pay $525 a month for rent. How to submit an amended tax return None was charged for the month the apartment was vacated. How to submit an amended tax return Your motel rent for this month was $1,200. How to submit an amended tax return You normally pay $200 a month for food. How to submit an amended tax return Your food expenses for the month you lived in the motel were $400. How to submit an amended tax return You received $1,100 from your insurance company to cover your living expenses. How to submit an amended tax return You determine the payment you must include in income as follows. How to submit an amended tax return 1) Insurance payment for living expenses $1,100 2) Actual expenses during the month you are unable to use your home because of fire 1,600   3) Normal living expenses 725   4) Temporary increase in living  expenses: Subtract line 3 from line 2 875 5) Amount of payment includible  in income: Subtract line 4  from line 1 $ 225 Tax year of inclusion. How to submit an amended tax return   You include the taxable part of the insurance payment in income for the year you regain the use of your main home or, if later, for the year you receive the taxable part of the insurance payment. How to submit an amended tax return Example. How to submit an amended tax return Your main home was destroyed by a tornado in August 2011. How to submit an amended tax return You regained use of your home in November 2012. How to submit an amended tax return The insurance payments you received in 2011 and 2012 were $1,500 more than the temporary increase in your living expenses during those years. How to submit an amended tax return You include this amount in income on your 2012 Form 1040. How to submit an amended tax return If, in 2013, you receive further payments to cover the living expenses you had in 2011 and 2012, you must include those payments in income on your 2013 Form 1040. How to submit an amended tax return Disaster relief. How to submit an amended tax return   Food, medical supplies, and other forms of assistance you receive do not reduce your casualty loss unless they are replacements for lost or destroyed property. How to submit an amended tax return Qualified disaster relief payments you receive for expenses you incurred as a result of a federally declared disaster are not taxable income to you. How to submit an amended tax return For more information, see Disaster Area Losses in Publication 547. How to submit an amended tax return Disaster unemployment assistance payments are unemployment benefits that are taxable. How to submit an amended tax return Generally, disaster relief grants and qualified disaster mitigation payments made under the Robert T. How to submit an amended tax return Stafford Disaster Relief and Emergency Assistance Act or the National Flood Insurance Act (as in effect on April 15, 2005) are not includible in your income. How to submit an amended tax return See Disaster Area Losses in Publication 547. How to submit an amended tax return Reimbursement Received After Deducting Loss If you figured your casualty or theft loss using your expected reimbursement, you may have to adjust your tax return for the tax year in which you receive your actual reimbursement. How to submit an amended tax return This section explains the adjustment you may have to make. How to submit an amended tax return Actual reimbursement less than expected. How to submit an amended tax return   If you later receive less reimbursement than you expected, include that difference as a loss with your other losses (if any) on your return for the year in which you can reasonably expect no more reimbursement. How to submit an amended tax return Example. How to submit an amended tax return Your personal car had an FMV of $2,000 when it was destroyed in a collision with another car in 2012. How to submit an amended tax return The accident was due to the negligence of the other driver. How to submit an amended tax return At the end of 2012, there was a reasonable prospect that the owner of the other car would reimburse you in full. How to submit an amended tax return You did not have a deductible loss in 2012. How to submit an amended tax return In January 2013, the court awarded you a judgment of $2,000. How to submit an amended tax return However, in July it became apparent that you will be unable to collect any amount from the other driver. How to submit an amended tax return You can deduct the loss in 2013 subject to the limits discussed later. How to submit an amended tax return Actual reimbursement more than expected. How to submit an amended tax return   If you later receive more reimbursement than you expected after you claimed a deduction for the loss, you may have to include the extra reimbursement in your income for the year you receive it. How to submit an amended tax return However, if any part of the original deduction did not reduce your tax for the earlier year, do not include that part of the reimbursement in your income. How to submit an amended tax return You do not refigure your tax for the year you claimed the deduction. How to submit an amended tax return For more information, see Recoveries in chapter 12. How to submit an amended tax return If the total of all the reimbursements you receive is more than your adjusted basis in the destroyed or stolen property, you will have a gain on the casualty or theft. How to submit an amended tax return If you have already taken a deduction for a loss and you receive the reimbursement in a later year, you may have to include the gain in your income for the later year. How to submit an amended tax return Include the gain as ordinary income up to the amount of your deduction that reduced your tax for the earlier year. How to submit an amended tax return See Figuring a Gain in Publication 547 for more information on how to treat a gain from the reimbursement of a casualty or theft. How to submit an amended tax return Actual reimbursement same as expected. How to submit an amended tax return   If you receive exactly the reimbursement you expected to receive, you do not have to include any of the reimbursement in your income and you cannot deduct any additional loss. How to submit an amended tax return Example. How to submit an amended tax return In December 2013, you had a collision while driving your personal car. How to submit an amended tax return Repairs to the car cost $950. How to submit an amended tax return You had $100 deductible collision insurance. How to submit an amended tax return Your insurance company agreed to reimburse you for the rest of the damage. How to submit an amended tax return Because you expected a reimbursement from the insurance company, you did not have a casualty loss deduction in 2013. How to submit an amended tax return Due to the $100 rule (discussed later under Deduction Limits ), you cannot deduct the $100 you paid as the deductible. How to submit an amended tax return When you receive the $850 from the insurance company in 2014, do not report it as income. How to submit an amended tax return Single Casualty on Multiple Properties Personal property. How to submit an amended tax return   Personal property is any property that is not real property. How to submit an amended tax return If your personal property is stolen or is damaged or destroyed by a casualty, you must figure your loss separately for each item of property. How to submit an amended tax return Then combine these separate losses to figure the total loss from that casualty or theft. How to submit an amended tax return Example. How to submit an amended tax return A fire in your home destroyed an upholstered chair, an oriental rug, and an antique table. How to submit an amended tax return You did not have fire insurance to cover your loss. How to submit an amended tax return (This was the only casualty or theft you had during the year. How to submit an amended tax return ) You paid $750 for the chair and you established that it had an FMV of $500 just before the fire. How to submit an amended tax return The rug cost $3,000 and had an FMV of $2,500 just before the fire. How to submit an amended tax return You bought the table at an auction for $100 before discovering it was an antique. How to submit an amended tax return It had been appraised at $900 before the fire. How to submit an amended tax return You figure your loss on each of these items as follows:     Chair Rug Table 1) Basis (cost) $750 $3,000 $100 2) FMV before fire $500 $2,500 $900 3) FMV after fire –0– –0– –0– 4) Decrease in FMV $500 $2,500 $900 5) Loss (smaller of (1) or  (4)) $500 $2,500 $100           6) Total loss     $3,100 Real property. How to submit an amended tax return   In figuring a casualty loss on personal-use real property, treat the entire property (including any improvements, such as buildings, trees, and shrubs) as one item. How to submit an amended tax return Figure the loss using the smaller of the adjusted basis or the decrease in FMV of the entire property. How to submit an amended tax return Example. How to submit an amended tax return You bought your home a few years ago. How to submit an amended tax return You paid $160,000 ($20,000 for the land and $140,000 for the house). How to submit an amended tax return You also spent $2,000 for landscaping. How to submit an amended tax return This year a fire destroyed your home. How to submit an amended tax return The fire also damaged the shrubbery and trees in your yard. How to submit an amended tax return The fire was your only casualty or theft loss this year. How to submit an amended tax return Competent appraisers valued the property as a whole at $200,000 before the fire, but only $30,000 after the fire. How to submit an amended tax return (The loss to your household furnishings is not shown in this example. How to submit an amended tax return It would be figured separately on each item, as explained earlier under Personal property . How to submit an amended tax return ) Shortly after the fire, the insurance company paid you $155,000 for the loss. How to submit an amended tax return You figure your casualty loss as follows: 1) Adjusted basis of the entire property (land, building, and landscaping) $162,000 2) FMV of entire property before fire $200,000 3) FMV of entire property after fire 30,000 4) Decrease in FMV of entire  property $170,000 5) Loss (smaller of (1) or (4)) $162,000 6) Subtract insurance 155,000 7) Amount of loss after reimbursement $7,000 Deduction Limits After you have figured your casualty or theft loss, you must figure how much of the loss you can deduct. How to submit an amended tax return If the loss was to property for your personal use or your family's use, there are two limits on the amount you can deduct for your casualty or theft loss. How to submit an amended tax return You must reduce each casualty or theft loss by $100 ($100 rule). How to submit an amended tax return You must further reduce the total of all your casualty or theft losses by 10% of your adjusted gross income (10% rule). How to submit an amended tax return You make these reductions on Form 4684. How to submit an amended tax return These rules are explained next and Table 25-1 summarizes how to apply the $100 rule and the 10% rule in various situations. How to submit an amended tax return For more detailed explanations and examples, see Publication 547. How to submit an amended tax return Table 25-1. How to submit an amended tax return How To Apply the Deduction Limits for Personal-Use Property   $100 Rule 10% Rule General Application You must reduce each casualty or theft loss by $100 when figuring your deduction. How to submit an amended tax return Apply this rule after you have figured the amount of your loss. How to submit an amended tax return You must reduce your total casualty or theft loss by 10% of your adjusted gross income. How to submit an amended tax return Apply this rule after you reduce each loss by $100 (the $100 rule). How to submit an amended tax return Single Event Apply this rule only once, even if many pieces of property are affected. How to submit an amended tax return Apply this rule only once, even if many pieces of property are affected. How to submit an amended tax return More Than One Event Apply to the loss from each event. How to submit an amended tax return Apply to the total of all your losses from all events. How to submit an amended tax return More Than One Person— With Loss From the Same Event (other than a married couple filing jointly) Apply separately to each person. How to submit an amended tax return Apply separately to each person. How to submit an amended tax return Married Couple—With Loss From the Same Event Filing Jointly Apply as if you were one person. How to submit an amended tax return Apply as if you were one person. How to submit an amended tax return Filing Separately Apply separately to each spouse. How to submit an amended tax return Apply separately to each spouse. How to submit an amended tax return More Than One Owner (other than a married couple filing jointly) Apply separately to each owner of jointly owned property. How to submit an amended tax return Apply separately to each owner of jointly owned property. How to submit an amended tax return Property used partly for business and partly for personal purposes. How to submit an amended tax return   When property is used partly for personal purposes and partly for business or income-producing purposes, the casualty or theft loss deduction must be figured separately for the personal-use part and for the business or income-producing part. How to submit an amended tax return You must figure each loss separately because the $100 rule and the 10% rule apply only to the loss on the personal-use part of the property. How to submit an amended tax return $100 Rule After you have figured your casualty or theft loss on personal-use property, you must reduce that loss by $100. How to submit an amended tax return This reduction applies to each total casualty or theft loss. How to submit an amended tax return It does not matter how many pieces of property are involved in an event. How to submit an amended tax return Only a single $100 reduction applies. How to submit an amended tax return Example. How to submit an amended tax return A hailstorm damages your home and your car. How to submit an amended tax return Determine the amount of loss, as discussed earlier, for each of these items. How to submit an amended tax return Since the losses are due to a single event, you combine the losses and reduce the combined amount by $100. How to submit an amended tax return Single event. How to submit an amended tax return   Generally, events closely related in origin cause a single casualty. How to submit an amended tax return It is a single casualty when the damage is from two or more closely related causes, such as wind and flood damage caused by the same storm. How to submit an amended tax return 10% Rule You must reduce the total of all your casualty or theft losses on personal-use property by 10% of your adjusted gross income. How to submit an amended tax return Apply this rule after you reduce each loss by $100. How to submit an amended tax return For more information, see the Form 4684 instructions. How to submit an amended tax return If you have both gains and losses from casualties or thefts, see Gains and losses , later in this discussion. How to submit an amended tax return Example 1. How to submit an amended tax return In June, you discovered that your house had been burglarized. How to submit an amended tax return Your loss after insurance reimbursement was $2,000. How to submit an amended tax return Your adjusted gross income for the year you discovered the theft is $29,500. How to submit an amended tax return You first apply the $100 rule and then the 10% rule. How to submit an amended tax return Figure your theft loss deduction as follows. How to submit an amended tax return 1) Loss after insurance $2,000 2) Subtract $100 100 3) Loss after $100 rule $1,900 4) Subtract 10% × $29,500 AGI 2,950 5) Theft loss deduction –0– You do not have a theft loss deduction because your loss after you apply the $100 rule ($1,900) is less than 10% of your adjusted gross income ($2,950). How to submit an amended tax return Example 2. How to submit an amended tax return In March, you had a car accident that totally destroyed your car. How to submit an amended tax return You did not have collision insurance on your car, so you did not receive any insurance reimbursement. How to submit an amended tax return Your loss on the car was $1,800. How to submit an amended tax return In November, a fire damaged your basement and totally destroyed the furniture, washer, dryer, and other items stored there. How to submit an amended tax return Your loss on the basement items after reimbursement was $2,100. How to submit an amended tax return Your adjusted gross income for the year that the accident and fire occurred is $25,000. How to submit an amended tax return You figure your casualty loss deduction as follows. How to submit an amended tax return       Base-     Car ment 1) Loss $1,800 $2,100 2) Subtract $100 per incident 100 100 3) Loss after $100 rule $1,700 $2,000 4) Total loss $3,700 5) Subtract 10% × $25,000 AGI 2,500 6) Casualty loss deduction $1,200 Gains and losses. How to submit an amended tax return   If you had both gains and losses from casualties or thefts to personal-use property, you must compare your total gains to your total losses. How to submit an amended tax return Do this after you have reduced each loss by any reimbursements and by $100, but before you have reduced the losses by 10% of your adjusted gross income. How to submit an amended tax return Casualty or theft gains do not include gains you choose to postpone. How to submit an amended tax return See Publication 547 for information on the postponement of gain. How to submit an amended tax return Losses more than gains. How to submit an amended tax return   If your losses are more than your recognized gains, subtract your gains from your losses and reduce the result by 10% of your adjusted gross income. How to submit an amended tax return The rest, if any, is your deductible loss from personal-use property. How to submit an amended tax return Gains more than losses. How to submit an amended tax return   If your recognized gains are more than your losses, subtract your losses from your gains. How to submit an amended tax return The difference is treated as capital gain and must be reported on Schedule D (Form 1040). How to submit an amended tax return The 10% rule does not apply to your gains. How to submit an amended tax return When To Report Gains and Losses Gains. How to submit an amended tax return   If you receive an insurance or other reimbursement that is more than your adjusted basis in the destroyed or stolen property, you have a gain from the casualty or theft. How to submit an amended tax return You must include this gain in your income in the year you receive the reimbursement, unless you choose to postpone reporting the gain as explained in Publication 547. How to submit an amended tax return If you have a loss, see Table 25-2 . How to submit an amended tax return Table 25-2. How to submit an amended tax return When To Deduct a Loss IF you have a loss. How to submit an amended tax return . How to submit an amended tax return . How to submit an amended tax return THEN deduct it in the year. How to submit an amended tax return . How to submit an amended tax return . How to submit an amended tax return from a casualty, the loss occurred. How to submit an amended tax return in a federally declared disaster area, the disaster occurred or the year immediately before the disaster. How to submit an amended tax return from a theft, the theft was discovered. How to submit an amended tax return on a deposit treated as a:   • casualty or any ordinary loss, a reasonable estimate can be made. How to submit an amended tax return • bad debt, deposits are totally worthless. How to submit an amended tax return Losses. How to submit an amended tax return   Generally, you can deduct a casualty loss that is not reimbursable only in the tax year in which the casualty occurred. How to submit an amended tax return This is true even if you do not repair or replace the damaged property until a later year. How to submit an amended tax return   You can deduct theft losses that are not reimbursable only in the year you discover your property was stolen. How to submit an amended tax return   If you are not sure whether part of your casualty or theft loss will be reimbursed, do not deduct that part until the tax year when you become reasonably certain that it will not be reimbursed. How to submit an amended tax return Loss on deposits. How to submit an amended tax return   If your loss is a loss on deposits in an insolvent or bankrupt financial institution, see Loss on Deposits , earlier. How to submit an amended tax return Disaster Area Loss You generally must deduct a casualty loss in the year it occurred. How to submit an amended tax return However, if you have a casualty loss from a federally declared disaster that occurred in an area warranting public or individual assistance (or both), you can choose to deduct the loss on your tax return or amended return for either of the following years. How to submit an amended tax return The year the disaster occurred. How to submit an amended tax return The year immediately preceding the year the disaster occurred. How to submit an amended tax return Gains. How to submit an amended tax return    Special rules apply if you choose to postpone reporting gain on property damaged or destroyed in a federally declared disaster area. How to submit an amended tax return For those special rules, see Publication 547. How to submit an amended tax return Postponed tax deadlines. How to submit an amended tax return   The IRS may postpone for up to 1 year certain tax deadlines of taxpayers who are affected by a federally declared disaster. How to submit an amended tax return The tax deadlines the IRS may postpone include those for filing income and employment tax returns, paying income and employment taxes, and making contributions to a traditional IRA or Roth IRA. How to submit an amended tax return   If any tax deadline is postponed, the IRS will publicize the postponement in your area by publishing a news release, revenue ruling, revenue procedure, notice, announcement, or other guidance in the Internal Revenue Bulletin (IRB). How to submit an amended tax return Go to www. How to submit an amended tax return irs. How to submit an amended tax return gov/uac/Tax-Relief-in-Disaster-Situations to find out if a tax deadline has been postponed for your area. How to submit an amended tax return Who is eligible. How to submit an amended tax return   If the IRS postpones a tax deadline, the following taxpayers are eligible for the postponement. How to submit an amended tax return Any individual whose main home is located in a covered disaster area (defined next). How to submit an amended tax return Any business entity or sole proprietor whose principal place of business is located in a covered disaster area. How to submit an amended tax return Any individual who is a relief worker affiliated with a recognized government or philanthropic organization who is assisting in a covered disaster area. How to submit an amended tax return Any individual, business entity, or sole proprietorship whose records are needed to meet a postponed tax deadline, provided those records are maintained in a covered disaster area. How to submit an amended tax return The main home or principal place of business does not have to be located in the covered disaster area. How to submit an amended tax return Any estate or trust that has tax records necessary to meet a postponed tax deadline, provided those records are maintained in a covered disaster area. How to submit an amended tax return The spouse on a joint return with a taxpayer who is eligible for postponements. How to submit an amended tax return Any individual, business entity, or sole proprietorship not located in a covered disaster area, but whose records necessary to meet a postponed tax deadline are located in the covered disaster area. How to submit an amended tax return Any individual visiting the covered disaster area who was killed or injured as a result of the disaster. How to submit an amended tax return Any other person determined by the IRS to be affected by a federally declared disaster. How to submit an amended tax return Covered disaster area. How to submit an amended tax return   This is an area of a federally declared disaster in which the IRS has decided to postpone tax deadlines for up to 1 year. How to submit an amended tax return Abatement of interest and penalties. How to submit an amended tax return   The IRS may abate the interest and penalties on underpaid income tax for the length of any postponement of tax deadlines. How to submit an amended tax return More information. How to submit an amended tax return   For more information, see Disaster Area Losses in Publication 547. How to submit an amended tax return How To Report Gains and Losses Use Form 4684 to report a gain or a deductible loss from a casualty or theft. How to submit an amended tax return If you have more than one casualty or theft, use a separate Form 4684 to determine your gain or loss for each event. How to submit an amended tax return Combine the gains and losses on one Form 4684. How to submit an amended tax return Follow the form instructions as to which lines to fill out. How to submit an amended tax return In addition, you must use the appropriate schedule to report a gain or loss. How to submit an amended tax return The schedule you use depends on whether you have a gain or loss. How to submit an amended tax return If you have a: Report it on: Gain Schedule D (Form 1040) Loss Schedule A (Form 1040) Adjustments to basis. How to submit an amended tax return   If you have a casualty or theft loss, you must decrease your basis in the property by any insurance or other reimbursement you receive, and by any deductible loss. How to submit an amended tax return Amounts you spend to restore your property after a casualty increase your adjusted basis. How to submit an amended tax return See Adjusted Basis in chapter 13 for more information. How to submit an amended tax return Net operating loss (NOL). How to submit an amended tax return    If your casualty or theft loss deduction causes your deductions for the year to be more than your income for the year, you may have an NOL. How to submit an amended tax return You can use an NOL to lower your tax in an earlier year, allowing you to get a refund for tax you have already paid. How to submit an amended tax return Or, you can use it to lower your tax in a later year. How to submit an amended tax return You do not have to be in business to have an NOL from a casualty or theft loss. How to submit an amended tax return For more information, see Publication 536, Net Operating Losses (NOLs) for Individuals, Estates, and Trusts. How to submit an amended tax return Prev  Up  Next   Home   More Online Publications