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Can I Still File 2012 Taxes Online

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Can I Still File 2012 Taxes Online

Can i still file 2012 taxes online Publication 571 - Introductory Material Table of Contents Future Developments What's New for 2013 What's New for 2014 Reminder IntroductionOrdering forms and publications. Can i still file 2012 taxes online Tax questions. Can i still file 2012 taxes online Useful Items - You may want to see: Future Developments For the latest information about developments related to Publication 571 and its instructions, such as legislation enacted after they were published, go to www. Can i still file 2012 taxes online irs. Can i still file 2012 taxes online gov/pub571. Can i still file 2012 taxes online What's New for 2013 Retirement savings contributions credit. Can i still file 2012 taxes online  For 2013, the adjusted gross income limitations have increased from $57,500 to $59,000 for married filing jointly filers, from $43,125 to $44,250 for head of household filers, and from $28,750 to $29,500 for single, married filing separately, or qualifying widow(er) with dependent child filers. Can i still file 2012 taxes online See chapter 10, Retirement Savings Contributions Credit (Saver's Credit), for additional information. Can i still file 2012 taxes online Limit on elective deferrals. Can i still file 2012 taxes online  For 2013, the limit on elective deferrals has increased from $17,000 to $17,500. Can i still file 2012 taxes online Limit on annual additions. Can i still file 2012 taxes online  For 2013, the limit on annual additions has increased from $50,000 to $51,000. Can i still file 2012 taxes online What's New for 2014 Retirement savings contributions credit. Can i still file 2012 taxes online  For 2014, the adjusted gross income limitations have increased from $59,000 to $60,000 for married filing jointly filers, from $44,250 to $45,000 for head of household filers, and from $29,500 to $30,000 for single, married filing separately, or qualifying widow(er) with dependent child filers. Can i still file 2012 taxes online See chapter 10, Retirement Savings Contributions Credit (Saver's Credit), for additional information. Can i still file 2012 taxes online Limit on elective deferrals. Can i still file 2012 taxes online  For 2014, the limit on elective deferrals remains unchanged at $17,500. Can i still file 2012 taxes online Limit on annual additions. Can i still file 2012 taxes online  For 2014, the limit on annual additions has increased from $51,000 to $52,000. Can i still file 2012 taxes online Reminder Photographs of missing children. Can i still file 2012 taxes online  The Internal Revenue Service is a proud partner with the National Center for Missing and Exploited Children. Can i still file 2012 taxes online Photographs of missing children selected by the Center may appear in this publication on pages that would otherwise be blank. Can i still file 2012 taxes online You can help bring these children home by looking at the photographs and calling 1-800-THE-LOST (1-800-843-5678) if you recognize a child. Can i still file 2012 taxes online Introduction This publication can help you better understand the tax rules that apply to your 403(b) (tax-sheltered annuity) plan. Can i still file 2012 taxes online In this publication, you will find information to help you: Determine the maximum amount that can be contributed to your 403(b) account in 2014. Can i still file 2012 taxes online Determine the maximum amount that could have been contributed to your 403(b) account in 2013. Can i still file 2012 taxes online Identify excess contributions. Can i still file 2012 taxes online Understand the basic rules for claiming the retirement savings contributions credit. Can i still file 2012 taxes online Understand the basic rules for distributions and rollovers from 403(b) accounts. Can i still file 2012 taxes online This publication does not provide specific information on the following topics. Can i still file 2012 taxes online Distributions from 403(b) accounts. Can i still file 2012 taxes online This is covered in Publication 575, Pension and Annuity Income. Can i still file 2012 taxes online Rollovers. Can i still file 2012 taxes online This is covered in Publication 590, Individual Retirement Arrangements (IRAs). Can i still file 2012 taxes online How to use this publication. Can i still file 2012 taxes online   This publication is organized into chapters to help you find information easily. Can i still file 2012 taxes online    Chapter 1 answers questions frequently asked by 403(b) plan participants. Can i still file 2012 taxes online    Chapters 2 through 6 explain the rules and terms you need to know to figure the maximum amount that could have been contributed to your 403(b) account for 2013 and the maximum amount that can be contributed to your 403(b) account in 2014. Can i still file 2012 taxes online    Chapter 7 provides general information on the prevention and correction of excess contributions to your 403(b) account. Can i still file 2012 taxes online    Chapter 8 provides general information on distributions, transfers, and rollovers. Can i still file 2012 taxes online    Chapter 9 provides blank worksheets that you will need to accurately and actively participate in your 403(b) plan. Can i still file 2012 taxes online Filled-in samples of most of these worksheets can be found throughout this publication. Can i still file 2012 taxes online    Chapter 10 explains the rules for claiming the retirement savings contributions credit (saver's credit). Can i still file 2012 taxes online Comments and suggestions. Can i still file 2012 taxes online   We welcome your comments about this publication and your suggestions for future editions. Can i still file 2012 taxes online   You can write to us at the following address: Internal Revenue Service Tax Forms and Publications Division 1111 Constitution Ave. Can i still file 2012 taxes online NW, IR-6526 Washington, DC 20224   We respond to many letters by telephone. Can i still file 2012 taxes online Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your correspondence. Can i still file 2012 taxes online   You can send your comments from www. Can i still file 2012 taxes online irs. Can i still file 2012 taxes online gov/formspubs/. Can i still file 2012 taxes online Click on “More Information” and then on “Comment on Tax Forms and Publications. Can i still file 2012 taxes online ”   Although we cannot respond individually to each comment received, we do appreciate your feedback and will consider your comments as we revise our tax products. Can i still file 2012 taxes online Ordering forms and publications. Can i still file 2012 taxes online   Visit www. Can i still file 2012 taxes online irs. Can i still file 2012 taxes online gov/formspubs/ to download forms and publications, call 1-800-TAX-FORM (1-800-829-3676), or write to the address below and receive a response within 10 days after your request is received. Can i still file 2012 taxes online  Internal Revenue Service 1201 N. Can i still file 2012 taxes online Mitsubishi Motorway Bloomington, IL 61705-6613 Tax questions. Can i still file 2012 taxes online   If you have a tax question, check the information available on IRS. Can i still file 2012 taxes online gov or call 1-800-829-1040. Can i still file 2012 taxes online We cannot answer tax questions sent to either of the above addresses. Can i still file 2012 taxes online Useful Items - You may want to see: Publication 517 Social Security and Other Information for Members of the Clergy and Religious Workers 575 Pension and Annuity Income 590 Individual Retirement Arrangements (IRAs) Form (and Instructions) W-2 Wage and Tax Statement 1099-R Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. Can i still file 2012 taxes online 5329 Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts 5330 Return of Excise Taxes Related to Employee Benefit Plans Prev  Up  Next   Home   More Online Publications
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Tax Information for Issuers

Publication 3755 - Filing Requirements
TEB's first publication outlines the filing requirements for issuers of tax-exempt bonds, including Forms 8038, 8038-G and 8038-T.

Publication 4079 - Tax-Exempt Governmental Bonds Compliance Guide
This publication provides an overview for state and local governments of the key rules under the federal tax law that generally apply to municipal financing arrangements commonly known as governmental bonds.

Publication 4078 - Tax Exempt Private Activity Bonds Compliance Guide
This publication provides an overview for state and local government issuers and borrowers of bond proceeds of the general post-issuance rules under federal tax law that apply to municipal financing arrangements known as qualified private activity bonds.

Publication 4077 - Tax Exempt Bonds for 501(c)(3) Charitable Organizations
This publication provides an overview for state and local government issuers and 501(c)(3) tax exempt charitable organizations of the general post-issuance rules under the federal tax law that generally apply to municipal and financing arrangements commonly known as 501(c)(3) bonds.

Page Last Reviewed or Updated: 22-Apr-2013

The Can I Still File 2012 Taxes Online

Can i still file 2012 taxes online 15. Can i still file 2012 taxes online   Selling Your Home Table of Contents Reminder Introduction Useful Items - You may want to see: Main Home Figuring Gain or LossSelling Price Amount Realized Adjusted Basis Amount of Gain or Loss Dispositions Other Than Sales Determining Basis Excluding the GainMaximum Exclusion Ownership and Use Tests Reduced Maximum Exclusion Business Use or Rental of Home Reporting the SaleSeller-financed mortgage. Can i still file 2012 taxes online More information. Can i still file 2012 taxes online Special SituationsException for sales to related persons. Can i still file 2012 taxes online Recapturing (Paying Back) a Federal Mortgage Subsidy Reminder Home sold with undeducted points. Can i still file 2012 taxes online  If you have not deducted all the points you paid to secure a mortgage on your old home, you may be able to deduct the remaining points in the year of the sale. Can i still file 2012 taxes online See Mortgage ending early under Points in chapter 23. Can i still file 2012 taxes online Introduction This chapter explains the tax rules that apply when you sell your main home. Can i still file 2012 taxes online In most cases, your main home is the one in which you live most of the time. Can i still file 2012 taxes online If you sold your main home in 2013, you may be able to exclude from income any gain up to a limit of $250,000 ($500,000 on a joint return in most cases). Can i still file 2012 taxes online See Excluding the Gain , later. Can i still file 2012 taxes online Generally, if you can exclude all the gain, you do not need to report the sale on your tax return. Can i still file 2012 taxes online If you have gain that cannot be excluded, it is taxable. Can i still file 2012 taxes online Report it on Form 8949, Sales and Other Dispositions of Capital Assets, and Schedule D (Form 1040). Can i still file 2012 taxes online You may also have to complete Form 4797, Sales of Business Property. Can i still file 2012 taxes online See Reporting the Sale , later. Can i still file 2012 taxes online If you have a loss on the sale, you generally cannot deduct it on your return. Can i still file 2012 taxes online However, you may need to report it. Can i still file 2012 taxes online See Reporting the Sale , later. Can i still file 2012 taxes online The following are main topics in this chapter. Can i still file 2012 taxes online Figuring gain or loss. Can i still file 2012 taxes online Basis. Can i still file 2012 taxes online Excluding the gain. Can i still file 2012 taxes online Ownership and use tests. Can i still file 2012 taxes online Reporting the sale. Can i still file 2012 taxes online Other topics include the following. Can i still file 2012 taxes online Business use or rental of home. Can i still file 2012 taxes online Recapturing a federal mortgage subsidy. Can i still file 2012 taxes online Useful Items - You may want to see: Publication 523 Selling Your Home 530 Tax Information for Homeowners 547 Casualties, Disasters, and Thefts Form (and Instructions) Schedule D (Form 1040) Capital Gains and Losses 982 Reduction of Tax Attributes Due to Discharge of Indebtedness 8828 Recapture of Federal Mortgage Subsidy 8949 Sales and Other Dispositions of Capital Assets Main Home This section explains the term “main home. Can i still file 2012 taxes online ” Usually, the home you live in most of the time is your main home and can be a: House, Houseboat, Mobile home, Cooperative apartment, or Condominium. Can i still file 2012 taxes online To exclude gain under the rules of this chapter, you in most cases must have owned and lived in the property as your main home for at least 2 years during the 5-year period ending on the date of sale. Can i still file 2012 taxes online Land. Can i still file 2012 taxes online   If you sell the land on which your main home is located, but not the house itself, you cannot exclude any gain you have from the sale of the land. Can i still file 2012 taxes online However, if you sell vacant land used as part of your main home and that is adjacent to it, you may be able to exclude the gain from the sale under certain circumstances. Can i still file 2012 taxes online See Vacant land under Main Home in Publication 523 for more information. Can i still file 2012 taxes online Example. Can i still file 2012 taxes online You buy a piece of land and move your main home to it. Can i still file 2012 taxes online Then you sell the land on which your main home was located. Can i still file 2012 taxes online This sale is not considered a sale of your main home, and you cannot exclude any gain on the sale of the land. Can i still file 2012 taxes online More than one home. Can i still file 2012 taxes online   If you have more than one home, you can exclude gain only from the sale of your main home. Can i still file 2012 taxes online You must include in income gain from the sale of any other home. Can i still file 2012 taxes online If you have two homes and live in both of them, your main home is ordinarily the one you live in most of the time during the year. Can i still file 2012 taxes online Example 1. Can i still file 2012 taxes online You own two homes, one in New York and one in Florida. Can i still file 2012 taxes online From 2009 through 2013, you live in the New York home for 7 months and in the Florida residence for 5 months of each year. Can i still file 2012 taxes online In the absence of facts and circumstances indicating otherwise, the New York home is your main home. Can i still file 2012 taxes online You would be eligible to exclude the gain from the sale of the New York home but not of the Florida home in 2013. Can i still file 2012 taxes online Example 2. Can i still file 2012 taxes online You own a house, but you live in another house that you rent. Can i still file 2012 taxes online The rented house is your main home. Can i still file 2012 taxes online Example 3. Can i still file 2012 taxes online You own two homes, one in Virginia and one in New Hampshire. Can i still file 2012 taxes online In 2009 and 2010, you lived in the Virginia home. Can i still file 2012 taxes online In 2011 and 2012, you lived in the New Hampshire home. Can i still file 2012 taxes online In 2013, you lived again in the Virginia home. Can i still file 2012 taxes online Your main home in 2009, 2010, and 2013 is the Virginia home. Can i still file 2012 taxes online Your main home in 2011 and 2012 is the New Hampshire home. Can i still file 2012 taxes online You would be eligible to exclude gain from the sale of either home (but not both) in 2013. Can i still file 2012 taxes online Property used partly as your main home. Can i still file 2012 taxes online   If you use only part of the property as your main home, the rules discussed in this publication apply only to the gain or loss on the sale of that part of the property. Can i still file 2012 taxes online For details, see Business Use or Rental of Home , later. Can i still file 2012 taxes online Figuring Gain or Loss To figure the gain or loss on the sale of your main home, you must know the selling price, the amount realized, and the adjusted basis. Can i still file 2012 taxes online Subtract the adjusted basis from the amount realized to get your gain or loss. Can i still file 2012 taxes online     Selling price     − Selling expenses       Amount realized       Amount realized     − Adjusted basis       Gain or loss   Selling Price The selling price is the total amount you receive for your home. Can i still file 2012 taxes online It includes money and the fair market value of any other property or any other services you receive and all notes, mortgages or other debts assumed by the buyer as part of the sale. Can i still file 2012 taxes online Payment by employer. Can i still file 2012 taxes online   You may have to sell your home because of a job transfer. Can i still file 2012 taxes online If your employer pays you for a loss on the sale or for your selling expenses, do not include the payment as part of the selling price. Can i still file 2012 taxes online Your employer will include it as wages in box 1 of your Form W-2, and you will include it in your income on Form 1040, line 7. Can i still file 2012 taxes online Option to buy. Can i still file 2012 taxes online   If you grant an option to buy your home and the option is exercised, add the amount you receive for the option to the selling price of your home. Can i still file 2012 taxes online If the option is not exercised, you must report the amount as ordinary income in the year the option expires. Can i still file 2012 taxes online Report this amount on Form 1040, line 21. Can i still file 2012 taxes online Form 1099-S. Can i still file 2012 taxes online   If you received Form 1099-S, Proceeds From Real Estate Transactions, box 2 (Gross proceeds) should show the total amount you received for your home. Can i still file 2012 taxes online   However, box 2 will not include the fair market value of any services or property other than cash or notes you received or will receive. Can i still file 2012 taxes online Instead, box 4 will be checked to indicate your receipt or expected receipt of these items. Can i still file 2012 taxes online Amount Realized The amount realized is the selling price minus selling expenses. Can i still file 2012 taxes online Selling expenses. Can i still file 2012 taxes online   Selling expenses include: Commissions, Advertising fees, Legal fees, and Loan charges paid by the seller, such as loan placement fees or “points. Can i still file 2012 taxes online ” Adjusted Basis While you owned your home, you may have made adjustments (increases or decreases) to the basis. Can i still file 2012 taxes online This adjusted basis must be determined before you can figure gain or loss on the sale of your home. Can i still file 2012 taxes online For information on how to figure your home's adjusted basis, see Determining Basis , later. Can i still file 2012 taxes online Amount of Gain or Loss To figure the amount of gain or loss, compare the amount realized to the adjusted basis. Can i still file 2012 taxes online Gain on sale. Can i still file 2012 taxes online   If the amount realized is more than the adjusted basis, the difference is a gain and, except for any part you can exclude, in most cases is taxable. Can i still file 2012 taxes online Loss on sale. Can i still file 2012 taxes online   If the amount realized is less than the adjusted basis, the difference is a loss. Can i still file 2012 taxes online A loss on the sale of your main home cannot be deducted. Can i still file 2012 taxes online Jointly owned home. Can i still file 2012 taxes online   If you and your spouse sell your jointly owned home and file a joint return, you figure your gain or loss as one taxpayer. Can i still file 2012 taxes online Separate returns. Can i still file 2012 taxes online   If you file separate returns, each of you must figure your own gain or loss according to your ownership interest in the home. Can i still file 2012 taxes online Your ownership interest is generally determined by state law. Can i still file 2012 taxes online Joint owners not married. Can i still file 2012 taxes online   If you and a joint owner other than your spouse sell your jointly owned home, each of you must figure your own gain or loss according to your ownership interest in the home. Can i still file 2012 taxes online Each of you applies the rules discussed in this chapter on an individual basis. Can i still file 2012 taxes online Dispositions Other Than Sales Some special rules apply to other dispositions of your main home. Can i still file 2012 taxes online Foreclosure or repossession. Can i still file 2012 taxes online   If your home was foreclosed on or repossessed, you have a disposition. Can i still file 2012 taxes online See Publication 4681, Canceled Debts, Foreclosures, Repossessions, and Abandonments, to determine if you have ordinary income, gain, or loss. Can i still file 2012 taxes online Abandonment. Can i still file 2012 taxes online   If you abandon your home, see Publication 4681 to determine if you have ordinary income, gain, or loss. Can i still file 2012 taxes online Trading (exchanging) homes. Can i still file 2012 taxes online   If you trade your old home for another home, treat the trade as a sale and a purchase. Can i still file 2012 taxes online Example. Can i still file 2012 taxes online You owned and lived in a home with an adjusted basis of $41,000. Can i still file 2012 taxes online A real estate dealer accepted your old home as a trade-in and allowed you $50,000 toward a new home priced at $80,000. Can i still file 2012 taxes online This is treated as a sale of your old home for $50,000 with a gain of $9,000 ($50,000 – $41,000). Can i still file 2012 taxes online If the dealer had allowed you $27,000 and assumed your unpaid mortgage of $23,000 on your old home, your sales price would still be $50,000 (the $27,000 trade-in allowed plus the $23,000 mortgage assumed). Can i still file 2012 taxes online Transfer to spouse. Can i still file 2012 taxes online   If you transfer your home to your spouse or you transfer it to your former spouse incident to your divorce, you in most cases have no gain or loss. Can i still file 2012 taxes online This is true even if you receive cash or other consideration for the home. Can i still file 2012 taxes online As a result, the rules in this chapter do not apply. Can i still file 2012 taxes online More information. Can i still file 2012 taxes online   If you need more information, see Transfer to spouse in Publication 523 and Property Settlements in Publication 504, Divorced or Separated Individuals. Can i still file 2012 taxes online Involuntary conversion. Can i still file 2012 taxes online   You have a disposition when your home is destroyed or condemned and you receive other property or money in payment, such as insurance or a condemnation award. Can i still file 2012 taxes online This is treated as a sale and you may be able to exclude all or part of any gain from the destruction or condemnation of your home, as explained later under Special Situations . Can i still file 2012 taxes online Determining Basis You need to know your basis in your home to figure any gain or loss when you sell it. Can i still file 2012 taxes online Your basis in your home is determined by how you got the home. Can i still file 2012 taxes online Generally, your basis is its cost if you bought it or built it. Can i still file 2012 taxes online If you got it in some other way (inheritance, gift, etc. Can i still file 2012 taxes online ), your basis is generally either its fair market value when you received it or the adjusted basis of the previous owner. Can i still file 2012 taxes online While you owned your home, you may have made adjustments (increases or decreases) to your home's basis. Can i still file 2012 taxes online The result of these adjustments is your home's adjusted basis, which is used to figure gain or loss on the sale of your home. Can i still file 2012 taxes online See Adjusted Basis , later. Can i still file 2012 taxes online You can find more information on basis and adjusted basis in chapter 13 of this publication and in Publication 523. Can i still file 2012 taxes online Cost As Basis The cost of property is the amount you paid for it in cash, debt obligations, other property, or services. Can i still file 2012 taxes online Purchase. Can i still file 2012 taxes online   If you bought your home, your basis is its cost to you. Can i still file 2012 taxes online This includes the purchase price and certain settlement or closing costs. Can i still file 2012 taxes online In most cases, your purchase price includes your down payment and any debt, such as a first or second mortgage or notes you gave the seller in payment for the home. Can i still file 2012 taxes online If you build, or contract to build, a new home, your purchase price can include costs of construction, as discussed in Publication 523. Can i still file 2012 taxes online Settlement fees or closing costs. Can i still file 2012 taxes online   When you bought your home, you may have paid settlement fees or closing costs in addition to the contract price of the property. Can i still file 2012 taxes online You can include in your basis some of the settlement fees and closing costs you paid for buying the home, but not the fees and costs for getting a mortgage loan. Can i still file 2012 taxes online A fee paid for buying the home is any fee you would have had to pay even if you paid cash for the home (that is, without the need for financing). Can i still file 2012 taxes online    Chapter 13 lists some of the settlement fees and closing costs that you can include in the basis of property, including your home. Can i still file 2012 taxes online It also lists some settlement costs that cannot be included in basis. Can i still file 2012 taxes online   Also see Publication 523 for additional items and a discussion of basis other than cost. Can i still file 2012 taxes online Adjusted Basis Adjusted basis is your cost or other basis increased or decreased by certain amounts. Can i still file 2012 taxes online To figure your adjusted basis, you can use Worksheet 1 in Publication 523. Can i still file 2012 taxes online Do not use Worksheet 1 if you acquired an interest in your home from a decedent who died in 2010 and whose executor filed Form 8939, Allocation of Increase in Basis for Property Acquired From a Decedent. Can i still file 2012 taxes online Increases to basis. Can i still file 2012 taxes online   These include the following. Can i still file 2012 taxes online Additions and other improvements that have a useful life of more than 1 year. Can i still file 2012 taxes online Special assessments for local improvements. Can i still file 2012 taxes online Amounts you spent after a casualty to restore damaged property. Can i still file 2012 taxes online Improvements. Can i still file 2012 taxes online   These add to the value of your home, prolong its useful life, or adapt it to new uses. Can i still file 2012 taxes online You add the cost of additions and other improvements to the basis of your property. Can i still file 2012 taxes online   For example, putting a recreation room or another bathroom in your unfinished basement, putting up a new fence, putting in new plumbing or wiring, putting on a new roof, or paving your unpaved driveway are improvements. Can i still file 2012 taxes online An addition to your house, such as a new deck, a sunroom, or a new garage, is also an improvement. Can i still file 2012 taxes online Repairs. Can i still file 2012 taxes online   These maintain your home in good condition but do not add to its value or prolong its life. Can i still file 2012 taxes online You do not add their cost to the basis of your property. Can i still file 2012 taxes online   Examples of repairs include repainting your house inside or outside, fixing your gutters or floors, repairing leaks or plastering, and replacing broken window panes. Can i still file 2012 taxes online Decreases to basis. Can i still file 2012 taxes online   These include the following. Can i still file 2012 taxes online Discharge of qualified principal residence indebtedness that was excluded from income. Can i still file 2012 taxes online Some or all of the cancellation of debt income that was excluded due to your bankruptcy or insolvency. Can i still file 2012 taxes online For details, see Publication 4681. Can i still file 2012 taxes online Gain you postponed from the sale of a previous home before May 7, 1997. Can i still file 2012 taxes online Deductible casualty losses. Can i still file 2012 taxes online Insurance payments you received or expect to receive for casualty losses. Can i still file 2012 taxes online Payments you received for granting an easement or right-of-way. Can i still file 2012 taxes online Depreciation allowed or allowable if you used your home for business or rental purposes. Can i still file 2012 taxes online Energy-related credits allowed for expenditures made on the residence. Can i still file 2012 taxes online (Reduce the increase in basis otherwise allowable for expenditures on the residence by the amount of credit allowed for those expenditures. Can i still file 2012 taxes online ) Adoption credit you claimed for improvements added to the basis of your home. Can i still file 2012 taxes online Nontaxable payments from an adoption assistance program of your employer you used for improvements you added to the basis of your home. Can i still file 2012 taxes online Energy conservation subsidy excluded from your gross income because you received it (directly or indirectly) from a public utility after 1992 to buy or install any energy conservation measure. Can i still file 2012 taxes online An energy conservation measure is an installation or modification primarily designed either to reduce consumption of electricity or natural gas or to improve the management of energy demand for a home. Can i still file 2012 taxes online District of Columbia first-time homebuyer credit (allowed on the purchase of a principal residence in the District of Columbia beginning on August 5, 1997 and before January 1, 2012). Can i still file 2012 taxes online General sales taxes (allowed beginning 2004 and ending before 2014) claimed as an itemized deduction on Schedule A (Form 1040) that were imposed on the purchase of personal property, such as a houseboat used as your home or a mobile home. Can i still file 2012 taxes online Discharges of qualified principal residence indebtedness. Can i still file 2012 taxes online   You may be able to exclude from gross income a discharge of qualified principal residence indebtedness. Can i still file 2012 taxes online This exclusion applies to discharges made after 2006 and before 2014. Can i still file 2012 taxes online If you choose to exclude this income, you must reduce (but not below zero) the basis of the principal residence by the amount excluded from your gross income. Can i still file 2012 taxes online   File Form 982 with your tax return. Can i still file 2012 taxes online See the form's instructions for detailed information. Can i still file 2012 taxes online Recordkeeping. Can i still file 2012 taxes online You should keep records to prove your home's adjusted basis. Can i still file 2012 taxes online Ordinarily, you must keep records for 3 years after the due date for filing your return for the tax year in which you sold your home. Can i still file 2012 taxes online But if you sold a home before May 7, 1997, and postponed tax on any gain, the basis of that home affects the basis of the new home you bought. Can i still file 2012 taxes online Keep records proving the basis of both homes as long as they are needed for tax purposes. Can i still file 2012 taxes online The records you should keep include: Proof of the home's purchase price and purchase expenses, Receipts and other records for all improvements, additions, and other items that affect the home's adjusted basis, Any worksheets or other computations you used to figure the adjusted basis of the home you sold, the gain or loss on the sale, the exclusion, and the taxable gain, Any Form 982 you filed to report any discharge of qualified principal residence indebtedness, Any Form 2119, Sale of Your Home, you filed to postpone gain from the sale of a previous home before May 7, 1997, and Any worksheets you used to prepare Form 2119, such as the Adjusted Basis of Home Sold Worksheet or the Capital Improvements Worksheet from the Form 2119 instructions, or other source of computations. Can i still file 2012 taxes online Excluding the Gain You may qualify to exclude from your income all or part of any gain from the sale of your main home. Can i still file 2012 taxes online This means that, if you qualify, you will not have to pay tax on the gain up to the limit described under Maximum Exclusion , next. Can i still file 2012 taxes online To qualify, you must meet the ownership and use tests described later. Can i still file 2012 taxes online You can choose not to take the exclusion by including the gain from the sale in your gross income on your tax return for the year of the sale. Can i still file 2012 taxes online You can use Worksheet 2 in Publication 523 to figure the amount of your exclusion and your taxable gain, if any. Can i still file 2012 taxes online If you have any taxable gain from the sale of your home, you may have to increase your withholding or make estimated tax payments. Can i still file 2012 taxes online See Publication 505, Tax Withholding and Estimated Tax. Can i still file 2012 taxes online Maximum Exclusion You can exclude up to $250,000 of the gain (other than gain allocated to periods of nonqualified use) on the sale of your main home if all of the following are true. Can i still file 2012 taxes online You meet the ownership test. Can i still file 2012 taxes online You meet the use test. Can i still file 2012 taxes online During the 2-year period ending on the date of the sale, you did not exclude gain from the sale of another home. Can i still file 2012 taxes online For details on gain allocated to periods of nonqualified use, see Periods of nonqualified use , later. Can i still file 2012 taxes online You may be able to exclude up to $500,000 of the gain (other than gain allocated to periods of nonqualified use) on the sale of your main home if you are married and file a joint return and meet the requirements listed in the discussion of the special rules for joint returns, later, under Married Persons . Can i still file 2012 taxes online Ownership and Use Tests To claim the exclusion, you must meet the ownership and use tests. Can i still file 2012 taxes online This means that during the 5-year period ending on the date of the sale, you must have: Owned the home for at least 2 years (the ownership test), and Lived in the home as your main home for at least 2 years (the use test). Can i still file 2012 taxes online Exception. Can i still file 2012 taxes online   If you owned and lived in the property as your main home for less than 2 years, you can still claim an exclusion in some cases. Can i still file 2012 taxes online However, the maximum amount you may be able to exclude will be reduced. Can i still file 2012 taxes online See Reduced Maximum Exclusion , later. Can i still file 2012 taxes online Example 1—home owned and occupied for at least 2 years. Can i still file 2012 taxes online Mya bought and moved into her main home in September 2011. Can i still file 2012 taxes online She sold the home at a gain in October 2013. Can i still file 2012 taxes online During the 5-year period ending on the date of sale in October 2013, she owned and lived in the home for more than 2 years. Can i still file 2012 taxes online She meets the ownership and use tests. Can i still file 2012 taxes online Example 2—ownership test met but use test not met. Can i still file 2012 taxes online Ayden bought a home, lived in it for 6 months, moved out, and never occupied the home again. Can i still file 2012 taxes online He later sold the home for a gain. Can i still file 2012 taxes online He owned the home during the entire 5-year period ending on the date of sale. Can i still file 2012 taxes online He meets the ownership test but not the use test. Can i still file 2012 taxes online He cannot exclude any part of his gain on the sale unless he qualified for a reduced maximum exclusion (explained later). Can i still file 2012 taxes online Period of Ownership and Use The required 2 years of ownership and use during the 5-year period ending on the date of the sale do not have to be continuous nor do they both have to occur at the same time. Can i still file 2012 taxes online You meet the tests if you can show that you owned and lived in the property as your main home for either 24 full months or 730 days (365 × 2) during the 5-year period ending on the date of sale. Can i still file 2012 taxes online Temporary absence. Can i still file 2012 taxes online   Short temporary absences for vacations or other seasonal absences, even if you rent out the property during the absences, are counted as periods of use. Can i still file 2012 taxes online The following examples assume that the reduced maximum exclusion (discussed later) does not apply to the sales. Can i still file 2012 taxes online Example 1. Can i still file 2012 taxes online David Johnson, who is single, bought and moved into his home on February 1, 2011. Can i still file 2012 taxes online Each year during 2011 and 2012, David left his home for a 2-month summer vacation. Can i still file 2012 taxes online David sold the house on March 1, 2013. Can i still file 2012 taxes online Although the total time David used his home is less than 2 years (21 months), he meets the requirement and may exclude gain. Can i still file 2012 taxes online The 2-month vacations are short temporary absences and are counted as periods of use in determining whether David used the home for the required 2 years. Can i still file 2012 taxes online Example 2. Can i still file 2012 taxes online Professor Paul Beard, who is single, bought and moved into a house on August 18, 2010. Can i still file 2012 taxes online He lived in it as his main home continuously until January 5, 2012, when he went abroad for a 1-year sabbatical leave. Can i still file 2012 taxes online On February 6, 2013, 1 month after returning from the leave, Paul sold the house at a gain. Can i still file 2012 taxes online Because his leave was not a short temporary absence, he cannot include the period of leave to meet the 2-year use test. Can i still file 2012 taxes online He cannot exclude any part of his gain, because he did not use the residence for the required 2 years. Can i still file 2012 taxes online Ownership and use tests met at different times. Can i still file 2012 taxes online   You can meet the ownership and use tests during different 2-year periods. Can i still file 2012 taxes online However, you must meet both tests during the 5-year period ending on the date of the sale. Can i still file 2012 taxes online Example. Can i still file 2012 taxes online Beginning in 2002, Helen Jones lived in a rented apartment. Can i still file 2012 taxes online The apartment building was later converted to condominiums, and she bought her same apartment on December 3, 2010. Can i still file 2012 taxes online In 2011, Helen became ill and on April 14 of that year she moved to her daughter's home. Can i still file 2012 taxes online On July 12, 2013, while still living in her daughter's home, she sold her condominium. Can i still file 2012 taxes online Helen can exclude gain on the sale of her condominium because she met the ownership and use tests during the 5-year period from July 13, 2008, to July 12, 2013, the date she sold the condominium. Can i still file 2012 taxes online She owned her condominium from December 3, 2010, to July 12, 2013 (more than 2 years). Can i still file 2012 taxes online She lived in the property from July 13, 2008 (the beginning of the 5-year period), to April 14, 2011 (more than 2 years). Can i still file 2012 taxes online The time Helen lived in her daughter's home during the 5-year period can be counted toward her period of ownership, and the time she lived in her rented apartment during the 5-year period can be counted toward her period of use. Can i still file 2012 taxes online Cooperative apartment. Can i still file 2012 taxes online   If you sold stock as a tenant-stockholder in a cooperative housing corporation, the ownership and use tests are met if, during the 5-year period ending on the date of sale, you: Owned the stock for at least 2 years, and Lived in the house or apartment that the stock entitles you to occupy as your main home for at least 2 years. Can i still file 2012 taxes online Exceptions to Ownership and Use Tests The following sections contain exceptions to the ownership and use tests for certain taxpayers. Can i still file 2012 taxes online Exception for individuals with a disability. Can i still file 2012 taxes online   There is an exception to the use test if: You become physically or mentally unable to care for yourself, and You owned and lived in your home as your main home for a total of at least 1 year during the 5-year period before the sale of your home. Can i still file 2012 taxes online Under this exception, you are considered to live in your home during any time within the 5-year period that you own the home and live in a facility (including a nursing home) licensed by a state or political subdivision to care for persons in your condition. Can i still file 2012 taxes online If you meet this exception to the use test, you still have to meet the 2-out-of-5-year ownership test to claim the exclusion. Can i still file 2012 taxes online Previous home destroyed or condemned. Can i still file 2012 taxes online   For the ownership and use tests, you add the time you owned and lived in a previous home that was destroyed or condemned to the time you owned and lived in the replacement home on whose sale you wish to exclude gain. Can i still file 2012 taxes online This rule applies if any part of the basis of the home you sold depended on the basis of the destroyed or condemned home. Can i still file 2012 taxes online Otherwise, you must have owned and lived in the same home for 2 of the 5 years before the sale to qualify for the exclusion. Can i still file 2012 taxes online Members of the uniformed services or Foreign Service, employees of the intelligence community, or employees or volunteers of the Peace Corps. Can i still file 2012 taxes online   You can choose to have the 5-year test period for ownership and use suspended during any period you or your spouse serve on “qualified official extended duty” as a member of the uniformed services or Foreign Service of the United States, or as an employee of the intelligence community. Can i still file 2012 taxes online You can choose to have the 5-year test period for ownership and use suspended during any period you or your spouse serve outside the United States either as an employee of the Peace Corps on "qualified official extended duty" or as an enrolled volunteer or volunteer leader of the Peace Corps. Can i still file 2012 taxes online This means that you may be able to meet the 2-year use test even if, because of your service, you did not actually live in your home for at least the required 2 years during the 5-year period ending on the date of sale. Can i still file 2012 taxes online   If this helps you qualify to exclude gain, you can choose to have the 5-year test period suspended by filing a return for the year of sale that does not include the gain. Can i still file 2012 taxes online For more information about the suspension of the 5-year test period, see Members of the uniformed services or Foreign Service, employees of the intelligence community, or employees or volunteers of the Peace Corps in Publication 523. Can i still file 2012 taxes online Married Persons If you and your spouse file a joint return for the year of sale and one spouse meets the ownership and use tests, you can exclude up to $250,000 of the gain. Can i still file 2012 taxes online (But see Special rules for joint returns , next. Can i still file 2012 taxes online ) Special rules for joint returns. Can i still file 2012 taxes online   You can exclude up to $500,000 of the gain on the sale of your main home if all of the following are true. Can i still file 2012 taxes online You are married and file a joint return for the year. Can i still file 2012 taxes online Either you or your spouse meets the ownership test. Can i still file 2012 taxes online Both you and your spouse meet the use test. Can i still file 2012 taxes online During the 2-year period ending on the date of the sale, neither you nor your spouse excluded gain from the sale of another home. Can i still file 2012 taxes online If either spouse does not satisfy all these requirements, the maximum exclusion that can be claimed by the couple is the total of the maximum exclusions that each spouse would qualify for if not married and the amounts were figured separately. Can i still file 2012 taxes online For this purpose, each spouse is treated as owning the property during the period that either spouse owned the property. Can i still file 2012 taxes online Example 1—one spouse sells a home. Can i still file 2012 taxes online Emily sells her home in June 2013 for a gain of $300,000. Can i still file 2012 taxes online She marries Jamie later in the year. Can i still file 2012 taxes online She meets the ownership and use tests, but Jamie does not. Can i still file 2012 taxes online Emily can exclude up to $250,000 of gain on a separate or joint return for 2013. Can i still file 2012 taxes online The $500,000 maximum exclusion for certain joint returns does not apply because Jamie does not meet the use test. Can i still file 2012 taxes online Example 2—each spouse sells a home. Can i still file 2012 taxes online The facts are the same as in Example 1 except that Jamie also sells a home in 2013 for a gain of $200,000 before he marries Emily. Can i still file 2012 taxes online He meets the ownership and use tests on his home, but Emily does not. Can i still file 2012 taxes online Emily can exclude $250,000 of gain and Jamie can exclude $200,000 of gain on the respective sales of their individual homes. Can i still file 2012 taxes online However, Emily cannot use Jamie's unused exclusion to exclude more than $250,000 of gain. Can i still file 2012 taxes online Therefore, Emily and Jamie must recognize $50,000 of gain on the sale of Emily's home. Can i still file 2012 taxes online The $500,000 maximum exclusion for certain joint returns does not apply because Emily and Jamie do not both meet the use test for the same home. Can i still file 2012 taxes online Sale of main home by surviving spouse. Can i still file 2012 taxes online   If your spouse died and you did not remarry before the date of sale, you are considered to have owned and lived in the property as your main home during any period of time when your spouse owned and lived in it as a main home. Can i still file 2012 taxes online   If you meet all of the following requirements, you may qualify to exclude up to $500,000 of any gain from the sale or exchange of your main home. Can i still file 2012 taxes online The sale or exchange took place after 2008. Can i still file 2012 taxes online The sale or exchange took place no more than 2 years after the date of death of your spouse. Can i still file 2012 taxes online You have not remarried. Can i still file 2012 taxes online You and your spouse met the use test at the time of your spouse's death. Can i still file 2012 taxes online You or your spouse met the ownership test at the time of your spouse's death. Can i still file 2012 taxes online Neither you nor your spouse excluded gain from the sale of another home during the last 2 years. Can i still file 2012 taxes online Example. Can i still file 2012 taxes online   Harry owned and used a house as his main home since 2009. Can i still file 2012 taxes online Harry and Wilma married on July 1, 2013, and from that date they use Harry's house as their main home. Can i still file 2012 taxes online Harry died on August 15, 2013, and Wilma inherited the property. Can i still file 2012 taxes online Wilma sold the property on September 3, 2013, at which time she had not remarried. Can i still file 2012 taxes online Although Wilma owned and used the house for less than 2 years, Wilma is considered to have satisfied the ownership and use tests because her period of ownership and use includes the period that Harry owned and used the property before death. Can i still file 2012 taxes online Home transferred from spouse. Can i still file 2012 taxes online   If your home was transferred to you by your spouse (or former spouse if the transfer was incident to divorce), you are considered to have owned it during any period of time when your spouse owned it. Can i still file 2012 taxes online Use of home after divorce. Can i still file 2012 taxes online   You are considered to have used property as your main home during any period when: You owned it, and Your spouse or former spouse is allowed to live in it under a divorce or separation instrument and uses it as his or her main home. Can i still file 2012 taxes online Reduced Maximum Exclusion If you fail to meet the requirements to qualify for the $250,000 or $500,000 exclusion, you may still qualify for a reduced exclusion. Can i still file 2012 taxes online This applies to those who: Fail to meet the ownership and use tests, or Have used the exclusion within 2 years of selling their current home. Can i still file 2012 taxes online In both cases, to qualify for a reduced exclusion, the sale of your main home must be due to one of the following reasons. Can i still file 2012 taxes online A change in place of employment. Can i still file 2012 taxes online Health. Can i still file 2012 taxes online Unforeseen circumstances. Can i still file 2012 taxes online Unforeseen circumstances. Can i still file 2012 taxes online   The sale of your main home is because of an unforeseen circumstance if your primary reason for the sale is the occurrence of an event that you could not reasonably have anticipated before buying and occupying your main home. Can i still file 2012 taxes online   See Publication 523 for more information and to use Worksheet 3 to figure your reduced maximum exclusion. Can i still file 2012 taxes online Business Use or Rental of Home You may be able to exclude gain from the sale of a home you have used for business or to produce rental income. Can i still file 2012 taxes online But you must meet the ownership and use tests. Can i still file 2012 taxes online Periods of nonqualified use. Can i still file 2012 taxes online   In most cases, gain from the sale or exchange of your main home will not qualify for the exclusion to the extent that the gains are allocated to periods of nonqualified use. Can i still file 2012 taxes online Nonqualified use is any period after 2008 during which neither you nor your spouse (or your former spouse) used the property as a main home with the following exceptions. Can i still file 2012 taxes online Exceptions. Can i still file 2012 taxes online   A period of nonqualified use does not include: Any portion of the 5-year period ending on the date of the sale or exchange after the last date you (or your spouse) use the property as a main home; Any period (not to exceed an aggregate period of 10 years) during which you (or your spouse) are serving on qualified official extended duty: As a member of the uniformed services; As a member of the Foreign Service of the United States; or As an employee of the intelligence community; and Any other period of temporary absence (not to exceed an aggregate period of 2 years) due to change of employment, health conditions, or such other unforeseen circumstances as may be specified by the IRS. Can i still file 2012 taxes online The gain resulting from the sale of the property is allocated between qualified and nonqualified use periods based on the amount of time the property was held for qualified and nonqualified use. Can i still file 2012 taxes online Gain from the sale or exchange of a main home allocable to periods of qualified use will continue to qualify for the exclusion for the sale of your main home. Can i still file 2012 taxes online Gain from the sale or exchange of property allocable to nonqualified use will not qualify for the exclusion. Can i still file 2012 taxes online Calculation. Can i still file 2012 taxes online   To figure the portion of the gain allocated to the period of nonqualified use, multiply the gain by the following fraction:   Total nonqualified use during the period of ownership after 2008      Total period of ownership     This calculation can be found in Worksheet 2, line 10, in Publication 523. Can i still file 2012 taxes online Example 1. Can i still file 2012 taxes online On May 23, 2007, Amy, who is unmarried for all years in this example, bought a house. Can i still file 2012 taxes online She moved in on that date and lived in it until May 31, 2009, when she moved out of the house and put it up for rent. Can i still file 2012 taxes online The house was rented from June 1, 2009, to March 31, 2011. Can i still file 2012 taxes online Amy claimed depreciation deductions in 2009 through 2011 totaling $10,000. Can i still file 2012 taxes online Amy moved back into the house on April 1, 2011, and lived there until she sold it on January 31, 2013, for a gain of $200,000. Can i still file 2012 taxes online During the 5-year period ending on the date of the sale (January 31, 2008-January 31, 2013), Amy owned and lived in the house for more than 2 years as shown in the following table. Can i still file 2012 taxes online Five Year Period Used as  Home Used as  Rental 1/31/08 – 5/31/09 16 months       6/1/09 – 3/31/11   22 months 4/1/11 – 1/31/13 22 months         38 months 22 months During the period Amy owned the house (2,080 days), her period of nonqualified use was 668 days. Can i still file 2012 taxes online Amy divides 668 by 2,080 and obtains a decimal (rounded to at least three decimal places) of 0. Can i still file 2012 taxes online 321. Can i still file 2012 taxes online To figure her gain attributable to the period of nonqualified use, she multiplies $190,000 (the gain not attributable to the $10,000 depreciation deduction) by 0. Can i still file 2012 taxes online 321. Can i still file 2012 taxes online Because the gain attributable to periods of nonqualified use is $60,990, Amy can exclude $129,010 of her gain. Can i still file 2012 taxes online Example 2. Can i still file 2012 taxes online William owned and used a house as his main home from 2007 through 2010. Can i still file 2012 taxes online On January 1, 2011, he moved to another state. Can i still file 2012 taxes online He rented his house from that date until April 30, 2013, when he sold it. Can i still file 2012 taxes online During the 5-year period ending on the date of sale (May 1, 2008-April 30, 2013), William owned and lived in the house for more than 2 years. Can i still file 2012 taxes online He must report the sale on Form 4797 because it was rental property at the time of sale. Can i still file 2012 taxes online Because the period of nonqualified use does not include any part of the 5-year period after the last date William lived in the house, he has no period of nonqualified use. Can i still file 2012 taxes online Because he met the ownership and use tests, he can exclude gain up to $250,000. Can i still file 2012 taxes online However, he cannot exclude the part of the gain equal to the depreciation he claimed or could have claimed for renting the house, as explained next. Can i still file 2012 taxes online Depreciation after May 6, 1997. Can i still file 2012 taxes online   If you were entitled to take depreciation deductions because you used your home for business purposes or as rental property, you cannot exclude the part of your gain equal to any depreciation allowed or allowable as a deduction for periods after May 6, 1997. Can i still file 2012 taxes online If you can show by adequate records or other evidence that the depreciation allowed was less than the amount allowable, then you may limit the amount of gain recognized to the depreciation allowed. Can i still file 2012 taxes online See Publication 544 for more information. Can i still file 2012 taxes online Property used partly for business or rental. Can i still file 2012 taxes online   If you used property partly as a home and partly for business or to produce rental income, see Publication 523. Can i still file 2012 taxes online Reporting the Sale Do not report the 2013 sale of your main home on your tax return unless: You have a gain and do not qualify to exclude all of it, You have a gain and choose not to exclude it, or You received Form 1099-S. Can i still file 2012 taxes online If any of these conditions apply, report the entire gain or loss. Can i still file 2012 taxes online For details on how to report the gain or loss, see the Instructions for Schedule D (Form 1040) and the Instructions for Form 8949. Can i still file 2012 taxes online If you used the home for business or to produce rental income, you may have to use Form 4797 to report the sale of the business or rental part (or the sale of the entire property if used entirely for business or rental). Can i still file 2012 taxes online See Business Use or Rental of Home in Publication 523 and the Instructions for Form 4797. Can i still file 2012 taxes online Installment sale. Can i still file 2012 taxes online    Some sales are made under arrangements that provide for part or all of the selling price to be paid in a later year. Can i still file 2012 taxes online These sales are called “installment sales. Can i still file 2012 taxes online ” If you finance the buyer's purchase of your home yourself instead of having the buyer get a loan or mortgage from a bank, you probably have an installment sale. Can i still file 2012 taxes online You may be able to report the part of the gain you cannot exclude on the installment basis. Can i still file 2012 taxes online    Use Form 6252, Installment Sale Income, to report the sale. Can i still file 2012 taxes online Enter your exclusion on line 15 of Form 6252. Can i still file 2012 taxes online Seller-financed mortgage. Can i still file 2012 taxes online   If you sell your home and hold a note, mortgage, or other financial agreement, the payments you receive in most cases consist of both interest and principal. Can i still file 2012 taxes online You must separately report as interest income the interest you receive as part of each payment. Can i still file 2012 taxes online If the buyer of your home uses the property as a main or second home, you must also report the name, address, and social security number (SSN) of the buyer on line 1 of Schedule B (Form 1040A or 1040). Can i still file 2012 taxes online The buyer must give you his or her SSN, and you must give the buyer your SSN. Can i still file 2012 taxes online Failure to meet these requirements may result in a $50 penalty for each failure. Can i still file 2012 taxes online If either you or the buyer does not have and is not eligible to get an SSN, see Social Security Number in chapter 1. Can i still file 2012 taxes online More information. Can i still file 2012 taxes online   For more information on installment sales, see Publication 537, Installment Sales. Can i still file 2012 taxes online Special Situations The situations that follow may affect your exclusion. Can i still file 2012 taxes online Sale of home acquired in a like-kind exchange. Can i still file 2012 taxes online   You cannot claim the exclusion if: You acquired your home in a like-kind exchange (also known as a section 1031 exchange), or your basis in your home is determined by reference to the basis of the home in the hands of the person who acquired the property in a like-kind exchange (for example, you received the home from that person as a gift), and You sold the home during the 5-year period beginning with the date your home was acquired in the like-kind exchange. Can i still file 2012 taxes online Gain from a like-kind exchange is not taxable at the time of the exchange. Can i still file 2012 taxes online This means that gain will not be taxed until you sell or otherwise dispose of the property you receive. Can i still file 2012 taxes online To defer gain from a like-kind exchange, you must have exchanged business or investment property for business or investment property of a like kind. Can i still file 2012 taxes online For more information about like-kind exchanges, see Publication 544, Sales and Other Dispositions of Assets. Can i still file 2012 taxes online Home relinquished in a like-kind exchange. Can i still file 2012 taxes online   If you use your main home partly for business or rental purposes and then exchange the home for another property, see Publication 523. Can i still file 2012 taxes online Expatriates. Can i still file 2012 taxes online   You cannot claim the exclusion if the expatriation tax applies to you. Can i still file 2012 taxes online The expatriation tax applies to certain U. Can i still file 2012 taxes online S. Can i still file 2012 taxes online citizens who have renounced their citizenship (and to certain long-term residents who have ended their residency). Can i still file 2012 taxes online For more information about the expatriation tax, see Expatriation Tax in chapter 4 of Publication 519, U. Can i still file 2012 taxes online S. Can i still file 2012 taxes online Tax Guide for Aliens. Can i still file 2012 taxes online Home destroyed or condemned. Can i still file 2012 taxes online   If your home was destroyed or condemned, any gain (for example, because of insurance proceeds you received) qualifies for the exclusion. Can i still file 2012 taxes online   Any part of the gain that cannot be excluded (because it is more than the maximum exclusion) can be postponed under the rules explained in: Publication 547, in the case of a home that was destroyed, or Publication 544, chapter 1, in the case of a home that was condemned. Can i still file 2012 taxes online Sale of remainder interest. Can i still file 2012 taxes online   Subject to the other rules in this chapter, you can choose to exclude gain from the sale of a remainder interest in your home. Can i still file 2012 taxes online If you make this choice, you cannot choose to exclude gain from your sale of any other interest in the home that you sell separately. Can i still file 2012 taxes online Exception for sales to related persons. Can i still file 2012 taxes online   You cannot exclude gain from the sale of a remainder interest in your home to a related person. Can i still file 2012 taxes online Related persons include your brothers, sisters, half-brothers, half-sisters, spouse, ancestors (parents, grandparents, etc. Can i still file 2012 taxes online ), and lineal descendants (children, grandchildren, etc. Can i still file 2012 taxes online ). Can i still file 2012 taxes online Related persons also include certain corporations, partnerships, trusts, and exempt organizations. Can i still file 2012 taxes online Recapturing (Paying Back) a Federal Mortgage Subsidy If you financed your home under a federally subsidized program (loans from tax-exempt qualified mortgage bonds or loans with mortgage credit certificates), you may have to recapture all or part of the benefit you received from that program when you sell or otherwise dispose of your home. Can i still file 2012 taxes online You recapture the benefit by increasing your federal income tax for the year of the sale. Can i still file 2012 taxes online You may have to pay this recapture tax even if you can exclude your gain from income under the rules discussed earlier; that exclusion does not affect the recapture tax. Can i still file 2012 taxes online Loans subject to recapture rules. Can i still file 2012 taxes online   The recapture applies to loans that: Came from the proceeds of qualified mortgage bonds, or Were based on mortgage credit certificates. Can i still file 2012 taxes online The recapture also applies to assumptions of these loans. Can i still file 2012 taxes online When recapture applies. Can i still file 2012 taxes online   Recapture of the federal mortgage subsidy applies only if you meet both of the following conditions. Can i still file 2012 taxes online You sell or otherwise dispose of your home at a gain within the first 9 years after the date you close your mortgage loan. Can i still file 2012 taxes online Your income for the year of disposition is more than that year's adjusted qualifying income for your family size for that year (related to the income requirements a person must meet to qualify for the federally subsidized program). Can i still file 2012 taxes online When recapture does not apply. Can i still file 2012 taxes online   Recapture does not apply in any of the following situations. Can i still file 2012 taxes online Your mortgage loan was a qualified home improvement loan (QHIL) of not more than $15,000 used for alterations, repairs, and improvements that protect or improve the basic livability or energy efficiency of your home. Can i still file 2012 taxes online Your mortgage loan was a QHIL of not more than $150,000 in the case of a QHIL used to repair damage from Hurricane Katrina to homes in the hurricane disaster area; a QHIL funded by a qualified mortgage bond that is a qualified Gulf Opportunity Zone Bond; or a QHIL for an owner-occupied home in the Gulf Opportunity Zone (GO Zone), Rita GO Zone, or Wilma GO Zone. Can i still file 2012 taxes online For more information, see Publication 4492, Information for Taxpayers Affected by Hurricanes Katrina, Rita, and Wilma. Can i still file 2012 taxes online Also see Publication 4492-B, Information for Affected Taxpayers in the Midwestern Disaster Areas. Can i still file 2012 taxes online The home is disposed of as a result of your death. Can i still file 2012 taxes online You dispose of the home more than 9 years after the date you closed your mortgage loan. Can i still file 2012 taxes online You transfer the home to your spouse, or to your former spouse incident to a divorce, where no gain is included in your income. Can i still file 2012 taxes online You dispose of the home at a loss. Can i still file 2012 taxes online Your home is destroyed by a casualty, and you replace it on its original site within 2 years after the end of the tax year when the destruction happened. Can i still file 2012 taxes online The replacement period is extended for main homes destroyed in a federally declared disaster area, a Midwestern disaster area, the Kansas disaster area, and the Hurricane Katrina disaster area. Can i still file 2012 taxes online For more information, see Replacement Period in Publication 547. Can i still file 2012 taxes online You refinance your mortgage loan (unless you later meet the conditions listed previously under When recapture applies ). Can i still file 2012 taxes online Notice of amounts. Can i still file 2012 taxes online   At or near the time of settlement of your mortgage loan, you should receive a notice that provides the federally subsidized amount and other information you will need to figure your recapture tax. Can i still file 2012 taxes online How to figure and report the recapture. Can i still file 2012 taxes online    The recapture tax is figured on Form 8828. Can i still file 2012 taxes online If you sell your home and your mortgage is subject to recapture rules, you must file Form 8828 even if you do not owe a recapture tax. Can i still file 2012 taxes online Attach Form 8828 to your Form 1040. Can i still file 2012 taxes online For more information, see Form 8828 and its instructions. 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