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File back tax online Publication 584-B - Additional Material Table of Contents This image is too large to be displayed in the current screen. File back tax online Please click the link to view the image. File back tax online Office Furniture and Fixtures This image is too large to be displayed in the current screen. File back tax online Please click the link to view the image. File back tax online Information Systems This image is too large to be displayed in the current screen. File back tax online Please click the link to view the image. File back tax online Motor Vehicles This image is too large to be displayed in the current screen. File back tax online Please click the link to view the image. File back tax online Office Supplies This image is too large to be displayed in the current screen. File back tax online Please click the link to view the image. File back tax online Building, Components, and Land This image is too large to be displayed in the current screen. File back tax online Please click the link to view the image. File back tax online Equipment Tax Publications for Individual TaxpayersSee How To Get Tax Help for a variety of ways to get publications, including by computer, phone, and mail. File back tax online General Guides 1 Your Rights as a Taxpayer 17 Your Federal Income Tax For Individuals 334 Tax Guide for Small Business (For Individuals Who Use Schedule C or C-EZ) 509 Tax Calendars for 2012 910 IRS Guide to Free Tax Services Specialized Publications 3 Armed Forces’ Tax Guide 54 Tax Guide for U. File back tax online S. File back tax online Citizens and Resident Aliens Abroad 225 Farmer’s Tax Guide 463 Travel, Entertainment, Gift, and Car Expenses 501 Exemptions, Standard Deduction, and Filing Information 502 Medical and Dental Expenses (Including the Health Coverage Tax Credit) 503 Child and Dependent Care Expenses 504 Divorced or Separated Individuals 505 Tax Withholding and Estimated Tax 514 Foreign Tax Credit for Individuals 516 U. File back tax online S. File back tax online Government Civilian Employees Stationed Abroad 517 Social Security and Other Information for Members of the Clergy and Religious Workers 519 U. File back tax online S. File back tax online Tax Guide for Aliens 521 Moving Expenses 523 Selling Your Home 524 Credit for the Elderly or the Disabled 525 Taxable and Nontaxable Income 526 Charitable Contributions 527 Residential Rental Property (Including Rental of Vacation Homes) 529 Miscellaneous Deductions 530 Tax Information for Homeowners 531 Reporting Tip Income 535 Business Expenses 536 Net Operating Losses (NOLs) for Individuals, Estates, and Trusts 537 Installment Sales 541 Partnerships 544 Sales and Other Dispositions of Assets 547 Casualties, Disasters, and Thefts 550 Investment Income and Expenses (Including Capital Gains and Losses) 551 Basis of Assets 554 Tax Guide for Seniors 555 Community Property 556 Examination of Returns, Appeal Rights, and Claims for Refund 559 Survivors, Executors, and Administrators 561 Determining the Value of Donated Property 570 Tax Guide for Individuals With Income From U. File back tax online S. File back tax online Possessions 571 Tax-Sheltered Annuity Plans (403(b) Plans) For Employees of Public Schools and Certain Tax-Exempt Organizations 575 Pension and Annuity Income 584 Casualty, Disaster, and Theft Loss Workbook (Personal-Use Property) 587 Business Use of Your Home (Including Use by Daycare Providers) 590 Individual Retirement Arrangements (IRAs) 594 The IRS Collection Process 596 Earned Income Credit (EIC) 721 Tax Guide to U. File back tax online S. File back tax online Civil Service Retirement Benefits 901 U. File back tax online S. File back tax online Tax Treaties 907 Tax Highlights for Persons with Disabilities 908 Bankruptcy Tax Guide 915 Social Security and Equivalent Railroad Retirement Benefits 925 Passive Activity and At-Risk Rules 926 Household Employer’s Tax Guide For Wages Paid in 2012 929 Tax Rules for Children and Dependents 936 Home Mortgage Interest Deduction 946 How To Depreciate Property 947 Practice Before the IRS and Power of Attorney 950 Introduction to Estate and Gift Taxes 969 Health Savings Accounts and Other Tax-Favored Health Plans 970 Tax Benefits for Education 971 Innocent Spouse Relief 972 Child Tax Credit 1542 Per Diem Rates (For Travel Within the Continental United States) 1544 Reporting Cash Payments of Over $10,000 (Received in a Trade or Business) 1546 Taxpayer Advocate Service – Your Voice at the IRS Spanish Language Publications 1SP Derechos del Contribuyente 17(SP) El Impuesto Federal sobre los Ingresos Para Personas Fisicas 547(SP) Hechos Fortuitos Desastres y Robos 584(SP) Registro de Pérdidas por Hechos Fortuitos (Imprevistos), Desastres y Robos (Propiedad de Uso Personal) 594SP El Proceso de Cobro del IRS 596SP Crédito por Ingreso del Trabajo 850(EN/SP) English-Spanish Glossary of Words and Phrases Used in Publications Issued by the Internal Revenue Service 1544 (SP) Informe de Pagos en Efectivo en Exceso de $10,000 (Recibidos en una Ocupación o Negocio) Commonly Used Tax FormsSee How To Get Tax Help for a variety of ways to get forms, including by computer, phone, and mail. File back tax online Form Number and Title 1040 U. File back tax online S. File back tax online Individual Income Tax Return Sch A Itemized Deductions Sch B Interest and Ordinary Dividends Sch C Profit or Loss From Business Sch C-EZ Net Profit From Business Sch D Capital Gains and Losses Sch E Supplemental Income and Loss Sch EIC Earned Income Credit Sch F Profit or Loss From Farming Sch H Household Employment Taxes Sch J Income Averaging for Farmers and Fishermen Sch R Credit for the Elderly or the Disabled Sch SE Self-Employment Tax 1040A U. File back tax online S. File back tax online Individual Income Tax Return Sch B Interest and Ordinary Dividends 1040EZ Income Tax Return for Single and Joint Filers With No Dependents 1040-ES Estimated Tax for Individuals 1040X Amended U. File back tax online S. File back tax online Individual Income Tax Return 2106 Employee Business Expenses 2106-EZ Unreimbursed Employee Business Expenses 2210 Underpayment of Estimated Tax by Individuals, Estates, and Trusts 2441 Child and Dependent Care Expenses 2848 Power of Attorney and Declaration of Representative 2848(SP) Poder Legal y Declaración del Representante 3903 Moving Expenses 4562 Depreciation and Amortization 4868 Application for Automatic Extension of Time To File U. File back tax online S. File back tax online Individual Income Tax Return 4868(SP) Solicitud de Prórroga Automática para Presentar la Declaración del Impuesto sobre el Ingreso Personal de los Estados Unidos 4952 Investment Interest Expense Deduction 5329 Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts 6251 Alternative Minimum Tax—Individuals 8283 Noncash Charitable Contributions 8582 Passive Activity Loss Limitations 8606 Nondeductible IRAs 8812 Additional Child Tax Credit 8822 Change of Address 8829 Expenses for Business Use of Your Home 8863 Education Credits (American Opportunity and Lifetime Learning Credits) 8949 Sales and Other Dispositions of Capital Assets 9465 Installment Agreement Request 9465(SP) Solicitud para un Plan de Pagos a Plazos         Prev  Up  Next   Home   More Online Publications
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About Tax Exempt Bonds

Tax Exempt Bonds (TEB) is a division of the Governmental Entities (GE) division of the Tax Exempt and Governmental Entities Division (TE/GE) of the Internal Revenue Service. 

The mission of TEB is to administer Federal tax laws applicable to tax-advantaged bonds and to provide our customers with top quality service by applying tax laws with integrity and fairness.

Our Compliance Program Management (CPM) and Field Operation (FO) programs focus on providing participants in the tax-advantaged bond industry with quality service and assistance to members of the tax-advantaged bond community in understanding their tax responsibilities.  TEB develops tailored education programs focused on tax-advantaged bond industry segments; monitors non-compliance trends to design pro-active education and outreach products; and designs and implements compliance programs and projects that foster voluntary resolution of infractions of the tax rules related to tax-advantaged bonds.

Rebecca L. Harrigal, Director

Under the direction of Rebecca L. Harrigal, TEB works closely with the Office of Associate Chief Counsel (TE/GE), other offices within the Internal Revenue Service, other regulatory agencies, state and local government officials, and others in the tax-advantaged bond community to encourage and achieve the highest degree of voluntary compliance with Federal tax laws. 

Steven A. Chamberlin,  CPM Manager

The Compliance and Program Management Program (formerly, Outreach, Planning, and Review), under the direction of Steven A. Chamberlin, is primarily responsible for the development and coordination of the Tax Exempt Bond Voluntary Compliance/Closing Agreement Program (TEB VCAP) as well as the development of ongoing outreach programs designed to effectively identify, provide guidance to, and address the needs of the various customer groups that comprise the tax-advantaged bond community. The CPM program also develops project initiatives; updates the Internal Revenue Manual (IRM) and Revenue Procedures; prepares taxpayer and employee education and training materials; handles general information requests and referrals; coordinates with the Office of Associate Chief Counsel to provide legal guidance; and performs program planning and evaluation functions.

Allyson Belsome, FO Manager

The Field Operations Program, under the direction of Allyson Belsome,  is primarily responsible for identifying and correcting noncompliance with Federal tax laws applicable to tax-advantaged bonds.  The FO office conducts examinations, with fairness and the highest level of integrity, at the issuer level.   The goal of the program is to pro-actively assist issuers in their tax-advantaged bond compliance with the Federal tax laws. FO personnel throughout the country are active not only in conducting examinations but also in assisting with the delivery of outreach programs to the tax-advantaged bond community.  FO concentrates its efforts on the many emerging issues and focus areas in the tax-advantaged bond community.

Voluntary Compliance Agreement Program

To promote voluntary compliance with the provisions of the Internal Revenue Code relating to tax-advantaged bonds, TEB expanded its voluntary closing agreement program (TEB VCAP). In expanding TEB VCAP, the IRS seeks to encourage issuers, conduit borrowers and other parties to bond transactions to exercise due diligence and to attempt to correct any issuance and post-issuance infractions of the applicable sections of the Internal Revenue Code and regulations. This expansion reflects the IRS's continuing policy of taxing bondholders only as a last resort and it's desire to resolve tax-advantaged bond infractions with other parties to the bond transactions.

Voluntary closing agreement requests from anonymous parties as well as requests on behalf of multiple issuers and issues are encouraged if a sufficient description of the appropriate facts and circumstances leading to the infraction are provided to the Service.

We welcome your interest in the CPM function and participation in the TEB VCAP program. We also welcome your suggestions about how we can improve the program and encourage up-front voluntary compliance. If you have any questions about the TEB VCAP or wish to discuss or submit a closing agreement request, please contact Steven A. Chamberlin, Manager, Compliance and Program Management by phone at (636) 255-1290 or FAX your inquiry to (636) 255-1447. You may also mail closing agreement requests to CPM at the following address:

Internal Revenue Service
SE:T:GE:TEB:CPM
TEB Room 128
1122 Town & Country Commons
Chesterfield, MO 63017-8293

 

Outreach

It is TEB's highest priority to communicate effectively with the diverse membership of the tax-advantaged bond community. TEB looks forward to working in partnership with state and local government officials, regulatory agencies, national governmental, industry, and professional associations, as well as your state and local affiliates and members. Please let us know if you have any requests for technical assistance or if you would like a speaker or panelist for your meeting, workshop, seminar or conference. We would also welcome the opportunity to assign a staff person to coordinate with your task forces or subcommittees or provide information for your newsletters or similar publications. Please feel free to link any of our materials to your websites as well. We welcome your suggestions concerning the type of materials you would like to see on this website in the future and the type of newsletters or publications that would be useful to you.

We welcome your suggestions concerning how we can better serve our customers.

Page Last Reviewed or Updated: 22-Nov-2013

The File Back Tax Online

File back tax online 16. File back tax online   Reporting Gains and Losses Table of Contents What's New Introduction Useful Items - You may want to see: Reporting Capital Gains and Losses Exception 1. File back tax online Exception 2. File back tax online File Form 1099-B or Form 1099-S with the IRS. File back tax online Capital Losses Capital Gain Tax Rates What's New Maximum capital gain rates. File back tax online . File back tax online  For 2013, the maximum capital gain rates are 0%, 15%, 20%, 25%, and 28%. File back tax online Introduction This chapter discusses how to report capital gains and losses from sales, exchanges, and other dispositions of investment property on Form 8949 and Schedule D (Form 1040). File back tax online The discussion includes the following topics. File back tax online How to report short-term gains and losses. File back tax online How to report long-term gains and losses. File back tax online How to figure capital loss carryovers. File back tax online How to figure your tax on a net capital gain. File back tax online If you sell or otherwise dispose of property used in a trade or business or for the production of income, see Publication 544, Sales and Other Dispositions of Assets, before completing Schedule D (Form 1040). File back tax online Useful Items - You may want to see: Publication 537 Installment Sales 544 Sales and Other Dispositions of Assets 550 Investment Income and Expenses Form (and Instructions) 4797 Sales of Business Property 6252 Installment Sale Income 8582 Passive Activity Loss Limitations 8949 Sales and Other Dispositions of Capital Assets Schedule D (Form 1040) Capital Gains and Losses Reporting Capital Gains and Losses Generally, report capital gains and losses on Form 8949. File back tax online Complete Form 8949 before you complete line 1b, 2, 3, 8b, 9, or 10 of Schedule D (Form 1040). File back tax online Use Form 8949 to report: The sale or exchange of a capital asset not reported on another form or schedule; Gains from involuntary conversions (other than from casualty or theft) of capital assets not held for business or profit; and Nonbusiness bad debts. File back tax online Use Schedule D (Form 1040): To figure the overall gain or loss from transactions reported on Form 8949; To report a gain from Form 6252 or Part I of Form 4797; To report a gain or loss from Form 4684, 6781, or 8824; To report capital gain distributions not reported directly on Form 1040 or Form 1040A; To report a capital loss carryover from the previous tax year to the current tax year; To report your share of a gain or (loss) from a partnership, S corporation, estate, or trust; To report transactions reported to you on a Form 1099-B (or substitute statement) showing basis was reported to the IRS and to which none of the Form 8949 adjustments or codes apply; and To report undistributed long-term capital gains from Form 2439. File back tax online On Form 8949, enter all sales and exchanges of capital assets, including stocks, bonds, etc. File back tax online , and real estate (if not reported on Form 4684, 4797, 6252, 6781, 8824, or line 1a or 8a of Schedule D). File back tax online Include these transactions even if you did not receive a Form 1099-B or 1099-S (or substitute statement) for the transaction. File back tax online Report short-term gains or losses in Part I. File back tax online Report long-term gains or losses in Part II. File back tax online Use as many Forms 8949 as you need. File back tax online Exceptions to filing Form 8949 and Schedule D (Form 1040). File back tax online   There are certain situations where you may not have to file Form 8949 and/or Schedule D (Form 1040). File back tax online Exception 1. File back tax online   You do not have to file Form 8949 or Schedule D (Form 1040) if you have no capital losses and your only capital gains are capital gain distributions from Form(s) 1099-DIV, box 2a (or substitute statements). File back tax online (If any Form(s) 1099-DIV (or substitute statements) you receive have an amount in box 2b (unrecaptured section 1250 gain), box 2c (section 1202 gain), or box 2d (collectibles (28%) gain), you do not qualify for this exception. File back tax online ) If you qualify for this exception, report your capital gain distributions directly on line 13 of Form 1040 (and check the box on line 13). File back tax online Also use the Qualified Dividends and Capital Gain Tax Worksheet in the Form 1040 instructions to figure your tax. File back tax online You can report your capital gain distributions on line 10 of Form 1040A, instead of on Form 1040, if none of the Forms 1099-DIV (or substitute statements) you received have an amount in box 2b, 2c, or 2d, and you do not have to file Form 1040. File back tax online Exception 2. File back tax online   You must file Schedule D (Form 1040), but generally do not have to file Form 8949, if Exception 1 does not apply and your only capital gains and losses are: Capital gain distributions; A capital loss carryover; A gain from Form 2439 or 6252 or Part I of Form 4797; A gain or loss from Form 4684, 6781, or 8824; A gain or loss from a partnership, S corporation, estate, or trust; or Gains and losses from transactions for which you received a Form 1099-B (or substitute statement) that shows the basis was reported to the IRS and for which you do not need to make any adjustments in column (g) of Form 8949 or enter any codes in column (f) of Form 8949. File back tax online Installment sales. File back tax online   You cannot use the installment method to report a gain from the sale of stock or securities traded on an established securities market. File back tax online You must report the entire gain in the year of sale (the year in which the trade date occurs). File back tax online Passive activity gains and losses. File back tax online    If you have gains or losses from a passive activity, you may also have to report them on Form 8582. File back tax online In some cases, the loss may be limited under the passive activity rules. File back tax online Refer to Form 8582 and its instructions for more information about reporting capital gains and losses from a passive activity. File back tax online Form 1099-B transactions. File back tax online   If you sold property, such as stocks, bonds, or certain commodities, through a broker, you should receive Form 1099-B or substitute statement from the broker. File back tax online Use the Form 1099-B or the substitute statement to complete Form 8949. File back tax online If you sold a covered security in 2013, your broker should send you a Form 1099-B (or substitute statement) that shows your basis. File back tax online This will help you complete Form 8949. File back tax online Generally, a covered security is a security you acquired after 2010. File back tax online   Report the gross proceeds shown in box 2a of Form 1099-B as the sales price in column (d) of either Part I or Part II of Form 8949, whichever applies. File back tax online However, if the broker advises you, in box 2a of Form 1099-B, that gross proceeds (sales price) less commissions and option premiums were reported to the IRS, enter that net sales price in column (d) of either Part I or Part II of Form 8949, whichever applies. File back tax online    Include in column (g) any expense of sale, such as broker's fees, commissions, state and local transfer taxes, and option premiums, unless you reported the net sales price in column (d). File back tax online If you include an expense of sale in column (g), enter “E” in column (f). File back tax online Form 1099-CAP transactions. File back tax online   If a corporation in which you own stock has had a change in control or a substantial change in capital structure, you should receive Form 1099-CAP or a substitute statement from the corporation. File back tax online Use the Form 1099-CAP or substitute statement to fill in Form 8949. File back tax online If your computations show that you would have a loss because of the change, do not enter any amounts on Form 8949 or Schedule D (Form 1040). File back tax online You cannot claim a loss on Schedule D (Form 1040) as a result of this transaction. File back tax online   Report the aggregate amount received shown in box 2 of Form 1099-CAP as the sales price in column (d) of either Part I or Part II of Form 8949, whichever applies. File back tax online Form 1099-S transactions. File back tax online   If you sold or traded reportable real estate, you generally should receive from the real estate reporting person a Form 1099-S showing the gross proceeds. File back tax online    “Reportable real estate” is defined as any present or future ownership interest in any of the following: Improved or unimproved land, including air space; Inherently permanent structures, including any residential, commercial, or industrial building; A condominium unit and its accessory fixtures and common elements, including land; and Stock in a cooperative housing corporation (as defined in section 216 of the Internal Revenue Code). File back tax online   A “real estate reporting person” could include the buyer's attorney, your attorney, the title or escrow company, a mortgage lender, your broker, the buyer's broker, or the person acquiring the biggest interest in the property. File back tax online   Your Form 1099-S will show the gross proceeds from the sale or exchange in box 2. File back tax online See the Instructions for Form 8949 and the Instructions for Schedule D (Form 1040) for how to report these transactions and include them in Part I or Part II of Form 8949 as appropriate. File back tax online However, report like-kind exchanges on Form 8824 instead. File back tax online   It is unlawful for any real estate reporting person to separately charge you for complying with the requirement to file Form 1099-S. File back tax online Nominees. File back tax online   If you receive gross proceeds as a nominee (that is, the gross proceeds are in your name but actually belong to someone else), see the Instructions for Form 8949 for how to report these amounts on Form 8949. File back tax online File Form 1099-B or Form 1099-S with the IRS. File back tax online   If you received gross proceeds as a nominee in 2013, you must file a Form 1099-B or Form 1099-S for those proceeds with the IRS. File back tax online Send the Form 1099-B or Form 1099-S with a Form 1096, Annual Summary and Transmittal of U. File back tax online S. File back tax online Information Returns, to your Internal Revenue Service Center by February 28, 2014 (March 31, 2014, if you file Form 1099-B or Form 1099-S electronically). File back tax online Give the actual owner of the proceeds Copy B of the Form 1099-B or Form 1099-S by February 18, 2014. File back tax online On Form 1099-B, you should be listed as the “Payer. File back tax online ” The other owner should be listed as the “Recipient. File back tax online ” On Form 1099-S, you should be listed as the “Filer. File back tax online ” The other owner should be listed as the “Transferor. File back tax online ” You do not have to file a Form 1099-B or Form 1099-S to show proceeds for your spouse. File back tax online For more information about the reporting requirements and the penalties for failure to file (or furnish) certain information returns, see the General Instructions for Certain Information Returns. File back tax online If you are filing electronically see Publication 1220. File back tax online Sale of property bought at various times. File back tax online   If you sell a block of stock or other property that you bought at various times, report the short-term gain or loss from the sale on one row in Part I of Form 8949, and the long-term gain or loss on one row in Part II of Form 8949. File back tax online Write “Various” in column (b) for the “Date acquired. File back tax online ” Sale expenses. File back tax online    On Form 8949, include in column (g) any expense of sale, such as broker's fees, commissions, state and local transfer taxes, and option premiums, unless you reported the net sales price in column (d). File back tax online If you include an expense of sale in column (g), enter “E” in column (f). File back tax online   For more information about adjustments to basis, see chapter 13. File back tax online Short-term gains and losses. File back tax online   Capital gain or loss on the sale or trade of investment property held 1 year or less is a short-term capital gain or loss. File back tax online You report it in Part I of Form 8949. File back tax online   You combine your share of short-term capital gain or loss from partnerships, S corporations, estates, and trusts, and any short-term capital loss carryover, with your other short-term capital gains and losses to figure your net short-term capital gain or loss on line 7 of Schedule D (Form 1040). File back tax online Long-term gains and losses. File back tax online    A capital gain or loss on the sale or trade of investment property held more than 1 year is a long-term capital gain or loss. File back tax online You report it in Part II of Form 8949. File back tax online   You report the following in Part II of Schedule D (Form 1040): Undistributed long-term capital gains from a mutual fund (or other regulated investment company) or real estate investment trust (REIT); Your share of long-term capital gains or losses from partnerships, S corporations, estates, and trusts; All capital gain distributions from mutual funds and REITs not reported directly on line 10 of Form 1040A or line 13 of Form 1040; and Long-term capital loss carryovers. File back tax online    The result after combining these items with your other long-term capital gains and losses is your net long-term capital gain or loss (Schedule D (Form 1040), line 15). File back tax online Total net gain or loss. File back tax online   To figure your total net gain or loss, combine your net short-term capital gain or loss (Schedule D (Form 1040), line 7) with your net long-term capital gain or loss (Schedule D (Form 1040), line 15). File back tax online Enter the result on Schedule D (Form 1040), Part III, line 16. File back tax online If your losses are more than your gains, see Capital Losses , next. File back tax online If both lines 15 and 16 of your Schedule D (Form 1040) are gains and your taxable income on your Form 1040 is more than zero, see Capital Gain Tax Rates , later. File back tax online Capital Losses If your capital losses are more than your capital gains, you can claim a capital loss deduction. File back tax online Report the amount of the deduction on line 13 of Form 1040, in parentheses. File back tax online Limit on deduction. File back tax online   Your allowable capital loss deduction, figured on Schedule D (Form 1040), is the lesser of: $3,000 ($1,500 if you are married and file a separate return); or Your total net loss as shown on line 16 of Schedule D (Form 1040). File back tax online   You can use your total net loss to reduce your income dollar for dollar, up to the $3,000 limit. File back tax online Capital loss carryover. File back tax online   If you have a total net loss on line 16 of Schedule D (Form 1040) that is more than the yearly limit on capital loss deductions, you can carry over the unused part to the next year and treat it as if you had incurred it in that next year. File back tax online If part of the loss is still unused, you can carry it over to later years until it is completely used up. File back tax online   When you figure the amount of any capital loss carryover to the next year, you must take the current year's allowable deduction into account, whether or not you claimed it and whether or not you filed a return for the current year. File back tax online   When you carry over a loss, it remains long term or short term. File back tax online A long-term capital loss you carry over to the next tax year will reduce that year's long-term capital gains before it reduces that year's short-term capital gains. File back tax online Figuring your carryover. File back tax online   The amount of your capital loss carryover is the amount of your total net loss that is more than the lesser of: Your allowable capital loss deduction for the year; or Your taxable income increased by your allowable capital loss deduction for the year and your deduction for personal exemptions. File back tax online   If your deductions are more than your gross income for the tax year, use your negative taxable income in computing the amount in item (2). File back tax online    Complete the Capital Loss Carryover Worksheet in the Instructions for Schedule D or Publication 550 to determine the part of your capital loss that you can carry over. File back tax online Example. File back tax online Bob and Gloria sold securities in 2013. File back tax online The sales resulted in a capital loss of $7,000. File back tax online They had no other capital transactions. File back tax online Their taxable income was $26,000. File back tax online On their joint 2013 return, they can deduct $3,000. File back tax online The unused part of the loss, $4,000 ($7,000 − $3,000), can be carried over to 2014. File back tax online If their capital loss had been $2,000, their capital loss deduction would have been $2,000. File back tax online They would have no carryover. File back tax online Use short-term losses first. File back tax online   When you figure your capital loss carryover, use your short-term capital losses first, even if you incurred them after a long-term capital loss. File back tax online If you have not reached the limit on the capital loss deduction after using the short-term capital losses, use the long-term capital losses until you reach the limit. File back tax online Decedent's capital loss. File back tax online    A capital loss sustained by a decedent during his or her last tax year (or carried over to that year from an earlier year) can be deducted only on the final income tax return filed for the decedent. File back tax online The capital loss limits discussed earlier still apply in this situation. File back tax online The decedent's estate cannot deduct any of the loss or carry it over to following years. File back tax online Joint and separate returns. File back tax online   If you and your spouse once filed separate returns and are now filing a joint return, combine your separate capital loss carryovers. File back tax online However, if you and your spouse once filed a joint return and are now filing separate returns, any capital loss carryover from the joint return can be deducted only on the return of the spouse who actually had the loss. File back tax online Capital Gain Tax Rates The tax rates that apply to a net capital gain are generally lower than the tax rates that apply to other income. File back tax online These lower rates are called the maximum capital gain rates. File back tax online The term “net capital gain” means the amount by which your net long-term capital gain for the year is more than your net short-term capital loss. File back tax online For 2013, the maximum capital gain rates are 0%, 15%, 20%, 25%, and 28%. File back tax online See Table 16-1 for details. File back tax online If you figure your tax using the maximum capital gain rate and the regular tax computation results in a lower tax, the regular tax computation applies. File back tax online Example. File back tax online All of your net capital gain is from selling collectibles, so the capital gain rate would be 28%. File back tax online If you are otherwise subject to a rate lower than 28%, the 28% rate does not apply. File back tax online Investment interest deducted. File back tax online   If you claim a deduction for investment interest, you may have to reduce the amount of your net capital gain that is eligible for the capital gain tax rates. File back tax online Reduce it by the amount of the net capital gain you choose to include in investment income when figuring the limit on your investment interest deduction. File back tax online This is done on the Schedule D Tax Worksheet or the Qualified Dividends and Capital Gain Tax Worksheet. File back tax online For more information about the limit on investment interest, see Interest Expenses in chapter 3 of Publication 550. File back tax online Table 16-1. File back tax online What Is Your Maximum Capital Gain Rate? IF your net capital gain is from . File back tax online . File back tax online . File back tax online THEN your  maximum capital gain rate is . File back tax online . File back tax online . File back tax online a collectibles gain 28% an eligible gain on qualified small business stock minus the section 1202 exclusion 28% an unrecaptured section 1250 gain 25% other gain1 and the regular tax rate that would apply is 39. File back tax online 6% 20% other gain1 and the regular tax rate that would apply is 25%, 28%, 33%, or 35% 15% other gain1 and the regular tax rate that would apply is 10% or 15% 0% 1 Other gain means any gain that is not collectibles gain, gain on qualified small business stock, or unrecaptured section 1250 gain. File back tax online     Collectibles gain or loss. File back tax online   This is gain or loss from the sale or trade of a work of art, rug, antique, metal (such as gold, silver, and platinum bullion), gem, stamp, coin, or alcoholic beverage held more than 1 year. File back tax online   Collectibles gain includes gain from sale of an interest in a partnership, S corporation, or trust due to unrealized appreciation of collectibles. File back tax online Gain on qualified small business stock. File back tax online    If you realized a gain from qualified small business stock that you held more than 5 years, you generally can exclude some or all of your gain under section 1202. File back tax online The eligible gain minus your section 1202 exclusion is a 28% rate gain. File back tax online See Gains on Qualified Small Business Stock in chapter 4 of Publication 550. File back tax online Unrecaptured section 1250 gain. File back tax online    Generally, this is any part of your capital gain from selling section 1250 property (real property) that is due to depreciation (but not more than your net section 1231 gain), reduced by any net loss in the 28% group. File back tax online Use the Unrecaptured Section 1250 Gain Worksheet in the Schedule D (Form 1040) instructions to figure your unrecaptured section 1250 gain. File back tax online For more information about section 1250 property and section 1231 gain, see chapter 3 of Publication 544. File back tax online Tax computation using maximum capital gain rates. File back tax online   Use the Qualified Dividends and Capital Gain Tax Worksheet or the Schedule D Tax Worksheet (whichever applies) to figure your tax if you have qualified dividends or net capital gain. File back tax online You have net capital gain if Schedule D (Form 1040), lines 15 and 16, are both gains. File back tax online Schedule D Tax Worksheet. File back tax online   Use the Schedule D Tax Worksheet in the Schedule D (Form 1040) instructions to figure your tax if: You have to file Schedule D (Form 1040); and Schedule D (Form 1040), line 18 (28% rate gain) or line 19 (unrecaptured section 1250 gain), is more than zero. File back tax online Qualified Dividends and Capital Gain Tax Worksheet. File back tax online   If you do not have to use the Schedule D Tax Worksheet (as explained above) and any of the following apply, use the Qualified Dividends and Capital Gain Tax Worksheet in the instructions for Form 1040 or Form 1040A (whichever you file) to figure your tax. File back tax online You received qualified dividends. File back tax online (See Qualified Dividends in chapter 8. File back tax online ) You do not have to file Schedule D (Form 1040) and you received capital gain distributions. File back tax online (See Exceptions to filing Form 8949 and Schedule D (Form 1040) , earlier. File back tax online ) Schedule D (Form 1040), lines 15 and 16, are both more than zero. File back tax online Alternative minimum tax. File back tax online   These capital gain rates are also used in figuring alternative minimum tax. File back tax online Prev  Up  Next   Home   More Online Publications