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File state income tax online free Publicación 4492(SP) - Main Contents Tabla de contenidos DefinicionesZona de Desastre del Huracán Katrina Zona de Desastre del Huracán Katrina con Cobertura Zona de Oportunidad del Golfo (GO) (Zona Central del Desastre) Zona de Desastre del Huracán Rita (Zona de Desastre de Rita con Cobertura) Zona GO de Rita Zona de Desastre del Huracán Wilma Zona de Desastre del Huracán Wilma con Cobertura Zona GO de Wilma Prórrogas de las Fechas de Vencimiento Tributarias Incentivos por Contribuciones CaritativasSuspensión Temporal de los Límites sobre las Contribuciones Caritativas Tasa Estándar por Milla para el Uso de Vehículos para Fines Caritativos Reembolsos de Millas a Voluntarios que Prestaron Servicios con Fines Caritativos Deducción Caritativa por Contribuciones de Inventario de Alimentos Deducción Caritativa por Contribuciones de Inventarios de Libros a Escuelas Públicas Pérdidas por Hechos Fortuitos y RobosPlazo para hacer la elección. File state income tax online free Período de Reposición para que las Ganancias no sean Reconocidas Pérdidas Netas de Operación Las Cuentas IRA y Otros Planes de JubilaciónDefiniciones Tributación de Distribuciones Calificadas por Motivos de un Huracán Reintegro de Distribuciones Calificadas por Motivos de un Huracán Reintegro de Distribuciones Calificadas por la Compra o Construcción de un Hogar Principal Préstamos Provenientes de Planes Calificados Alivio Tributario Adicional para Personas FísicasCrédito por Ingreso del Trabajo y Crédito Tributario por Hijos Exenciones Adicionales por la Provisión de Vivienda para Personas que Tuvieron que Abandonar sus Hogares por Causa del Huracán Katrina Créditos Tributarios por Enseñanza Superior Recuperación del Subsidio Hipotecario Federal Exclusión de Ciertas Cancelaciones de Endeudamiento por Motivos del Huracán Katrina Alivio Tributario para la Reubicación Temporal Alivio Tributario Adicional para Empresas Asignación (Descuento) Especial de Depreciación Mayor Deducción Conforme a la Sección 179 Crédito por Oportunidad de Trabajo Créditos por la Retención de Empleados Crédito por Vivienda del Huracán Katrina Costos de Reforestación Costos de Demolición y Limpieza Aumento del Crédito Tributario por Rehabilitación Solicitud de Copia o Apógrafo de la Declaración de Impuestos Cómo Obtener Ayuda con los Impuestos Definiciones En esta publicación se utilizarán las siguientes definiciones: Zona de Desastre del Huracán Katrina La zona de desastre del huracán Katrina abarca el área que el Presidente declaró zona mayor de desastre debido al huracán Katrina, antes del 14 de septiembre del 2005. File state income tax online free La zona de desastre del huracán Katrina abarca los estados de Alabama, Florida, Louisiana y Mississippi en su totalidad. File state income tax online free Zona de Desastre del Huracán Katrina con Cobertura El IRS ha designado una parte de la zona del huracán Katrina como zona de desastre con cobertura. File state income tax online free La zona de desastre del huracán Katrina con cobertura abarca las siguientes áreas en cuatro estados distintos: Alabama. File state income tax online free   Los condados de Baldwin, Bibb, Choctaw, Clarke, Colbert, Cullman, Greene, Hale, Jefferson, Lamar, Lauderdale, Marengo, Marion, Mobile, Monroe, Perry, Pickens, Sumter, Tuscaloosa, Washington, Wilcox y Winston. File state income tax online free Florida. File state income tax online free   Los condados de Bay, Broward, Collier, Escambia, Franklin, Gulf, Miami-Dade, Monroe, Okaloosa, Santa Rosa y Walton. File state income tax online free Louisiana. File state income tax online free   Todas las parroquias. File state income tax online free Mississippi. File state income tax online free   Todos los condados. File state income tax online free Zona de Oportunidad del Golfo (GO) (Zona Central del Desastre) La Zona GO (también denominada zona central del desastre) abarca una parte de la zona de desastre ocasionada por el huracán Katrina que la Agencia Federal para el Manejo de Emergencias (conocida por sus siglas en inglés, FEMA) determinó ser elegible para recibir ayuda individual por sí sola o para recibir ambas ayuda individual y asistencia pública de parte del gobierno federal. File state income tax online free La Zona GO incluye las siguientes áreas en tres estados distintos: Alabama. File state income tax online free   Los condados de Baldwin, Choctaw, Clarke, Greene, Hale, Marengo, Mobile, Pickens, Sumter, Tuscaloosa y Washington. File state income tax online free Louisiana. File state income tax online free   Las parroquias de Acadia, Ascension, Assumption, Calcasieu, Cameron, East Baton Rouge, East Feliciana, Iberia, Iberville, Jefferson, Jefferson Davis, Lafayette, Lafourche, Livingston, Orleans, Plaquemines, Pointe Coupee, St. File state income tax online free Bernard, St. File state income tax online free Charles, St. File state income tax online free Helena, St. File state income tax online free James, St. File state income tax online free John the Baptist, St. File state income tax online free Martin, St. File state income tax online free Mary, St. File state income tax online free Tammany, Tangipahoa, Terrebonne, Vermilion, Washington, West Baton Rouge y West Feliciana. File state income tax online free Mississippi. File state income tax online free   Los condados de Adams, Amite, Attala, Choctaw, Claiborne, Clarke, Copiah, Covington, Forrest, Franklin, George, Greene, Hancock, Harrison, Hinds, Holmes, Humphreys, Jackson, Jasper, Jefferson, Jefferson Davis, Jones, Kemper, Lamar, Lauderdale, Lawrence, Leake, Lincoln, Lowndes, Madison, Marion, Neshoba, Newton, Noxubee, Oktibbeha, Pearl River, Perry, Pike, Rankin, Scott, Simpson, Smith, Stone, Walthall, Warren, Wayne, Wilkinson, Winston y Yazoo. File state income tax online free Zona de Desastre del Huracán Rita (Zona de Desastre de Rita con Cobertura) La zona de desastre del huracán Rita (también designada por el IRS como la zona de desastre de Rita con cobertura) abarca aquella que el Presidente declaró desastre mayor antes del 6 de octubre del 2005 debido al huracán Rita. File state income tax online free La zona de desastre del huracán Rita con cobertura incluye los estados de Louisiana y Texas en su totalidad. File state income tax online free Zona GO de Rita La Zona GO de Rita abarca la parte de la zona del huracán Rita que FEMA determinó ser elegible para recibir asistencia individual por sí sola o para recibir ambas asistencia pública e individual del gobierno federal. File state income tax online free La Zona GO de Rita incluye las siguientes áreas en dos estados: Louisiana. File state income tax online free   Las parroquias de Acadia, Allen, Ascension, Beauregard, Calcasieu, Cameron, Evangeline, Iberia, Jefferson, Jefferson Davis, Lafayette, Lafourche, Livingston, Plaquemines, Sabine, St. File state income tax online free Landry, St. File state income tax online free Martin, St. File state income tax online free Mary, St. File state income tax online free Tammany, Terrebonne, Vermilion, Vernon y West Baton Rouge. File state income tax online free Texas. File state income tax online free   Los condados de Angelina, Brazoria, Chambers, Fort Bend, Galveston, Hardin, Harris, Jasper, Jefferson, Liberty, Montgomery, Nacogdoches, Newton, Orange, Polk, Sabine, San Augustine, San Jacinto, Shelby, Trinity, Tyler y Walker. File state income tax online free Zona de Desastre del Huracán Wilma La zona de desastre del huracán Wilma abarca aquella zona que el Presidente declaró como desastre mayor antes del 14 de noviembre del 2005 debido al huracán Wilma. File state income tax online free La zona de desastre del huracán Wilma abarca el estado de Florida en su totalidad. File state income tax online free Zona de Desastre del Huracán Wilma con Cobertura Una parte de la zona de desastre del huracán Wilma ha sido designada por el IRS como zona de desastre de Wilma con cobertura. File state income tax online free La zona de desastre del huracán Wilma con cobertura incluye los siguientes condados: Florida. File state income tax online free   Brevard, Broward, Charlotte, Collier, DeSoto, Glades, Hardee, Hendry, Highlands, Indian River, Lee, Martin, Miami-Dade, Monroe, Okeechobee, Osceola, Palm Beach, Polk, St. File state income tax online free Lucie y Sarasota. File state income tax online free Zona GO de Wilma La Zona GO de Wilma abarca la parte de la zona del huracán Wilma que FEMA determinó ser elegible para recibir asistencia individual por sí sola o para recibir ambas asistencia pública e individual del gobierno federal. File state income tax online free La Zona GO de Wilma incluye los siguientes condados: Florida. File state income tax online free   Brevard, Broward, Collier, Glades, Hendry, Indian River, Lee, Martin, Miami-Dade, Monroe, Okeechobee, Palm Beach y St. File state income tax online free Lucie. File state income tax online free Prórrogas de las Fechas de Vencimiento Tributarias El IRS ha extendido las fechas de vencimiento aplicables para presentar la declaración de impuestos, el pago de impuestos y para efectuar ciertos trámites que tengan fecha de vencimiento hasta el 28 de febrero del 2006, en el caso de contribuyentes que se vieron afectados por los huracanes Katrina, Rita o Wilma. File state income tax online free La prórroga es aplicable a fechas de vencimiento (fechas de vencimiento originales o prorrogadas) que ocurren durante los períodos siguientes: Después del 28 de agosto del 2005 (23 de agosto del 2005 para los contribuyentes afectados en Florida) y antes del 28 de febrero del 2006 para contribuyentes afectados por el huracán Katrina. File state income tax online free Después del 22 de septiembre del 2005 y antes del 28 de febrero del 2006 para los contribuyentes afectados por el huracán Rita. File state income tax online free Después del 22 de octubre del 2005 y antes del 28 de febrero del 2006 para los contribuyentes afectados por el huracán Wilma. File state income tax online free Contribuyentes afectados. File state income tax online free   Los contribuyentes afectados elegibles para obtener una prórroga son los siguientes: Cualquier persona cuyo hogar principal está ubicado en una zona de desastre con cobertura. File state income tax online free Cualquier entidad comercial o empresario(a) por cuenta propia cuyo lugar principal de trabajo se encuentra en una zona de desastre con cobertura. File state income tax online free Cualquier individuo, entidad comercial o empresario(a) por cuenta propia cuya documentación o registros necesarios para cumplir una determinada fecha de vencimiento prorrogada se encuentran en una zona de desastre con cobertura o cuyo(a) preparador(a) de impuestos tiene su oficina en dicha zona. File state income tax online free El hogar principal o lugar principal de trabajo no necesariamente tiene que estar ubicado en la zona con cobertura. File state income tax online free Cualquier persona que haya visitado un condado o parroquia en la zona de desastre con cobertura del huracán Katrina o Rita que haya sufrido lesiones o haya perecido (y el caudal hereditario de una persona que haya perecido) como consecuencia del huracán o sus daños posteriores. File state income tax online free Cualquier herencia o fideicomiso cuyos registros necesarios para cumplir con una fecha de vencimiento de presentación o pago se encuentran en una zona de desastre con cobertura. File state income tax online free Por lo general, cualquier persona que haya trabajado en las actividades de socorro dentro de una zona de desastre con cobertura. File state income tax online free Sin embargo, un(a) empleado(a) que realiza tareas de socorro en la zona de desastre de Wilma no es considerado(a) un(a) contribuyente afectado(a), a menos que él o ella esté afiliado(a) con un organismo gubernamental o filantrópico reconocido dedicado a ayudar en dichas actividades de socorro. File state income tax online free El o la cónyuge de un(a) contribuyente afectado(a), únicamente en lo que respecta a una declaración conjunta de impuestos. File state income tax online free   A fin de asegurar un procesamiento correcto de la documentación, los contribuyentes afectados deben escribir la designación del desastre pertinente con tinta roja en la parte superior de cualesquier formas o documentos que presenten ante el IRS (por ejemplo: “Hurricane Katrina” (Huracán Katrina)). File state income tax online free Los contribuyentes afectados también pueden identificarse ante el personal del IRS o hacer preguntas relacionadas con el huracán llamando a la línea especial de emergencia en caso de desastres del IRS: 1-866-562-5227. File state income tax online free Actos prorrogados. File state income tax online free   Se han prorrogado las fechas de vencimiento para llevar a cabo lo siguiente: Presentación de declaraciones de impuestos sobre el ingreso, herencias, donaciones, traspasos entre generaciones, impuesto sobre artículos de uso y consumo o impuesto sobre la nómina. File state income tax online free Pago de cualquier impuesto sobre el ingreso, herencias, donaciones, traspasos entre generaciones, impuesto sobre artículos de uso y consumo o impuesto sobre la nómina. File state income tax online free Esto también incluye el pago de impuestos estimados. File state income tax online free Hacer ciertas aportaciones, distribuciones, contribuciones a las que se les ha dado un carácter diferente al que tenían o la reinversión que se hace a, o desde, un plan de jubilación calificado. File state income tax online free Presentar ciertas peticiones ante el Tribunal Tributario. File state income tax online free Presentar una reclamación de crédito o reembolso por cualquier impuesto. File state income tax online free Entablar una demanda sobre alguna reclamación de crédito o reembolso. File state income tax online free Ciertos otros actos que se describen en el Revenue Procedure 2005-27 (Procedimientos de Impuestos Internos 2005-27). File state income tax online free Puede encontrar estos procedimientos en la página 1050 del Internal Revenue Bulletin 2005-20 (Boletín de Impuestos Internos 2005-20) en www. File state income tax online free irs. File state income tax online free gov/pub/irs-irbs/irb05-20. File state income tax online free pdf. File state income tax online free Condonación de interés y multas. File state income tax online free   El IRS pudiera condonar el interés y las multas sobre cualquier impuesto sobre el ingreso, herencia, donaciones, nómina o artículos de uso y consumo que no se ha pagado en su totalidad durante el plazo de una prórroga. File state income tax online free Incentivos por Contribuciones Caritativas Suspensión Temporal de los Límites sobre las Contribuciones Caritativas Individuos. File state income tax online free   Las contribuciones calificadas no están sujetas al límite general sobre deducciones detalladas o al límite del 50% del ingreso bruto ajustado (conocido por sus siglas en inglés, AGI). File state income tax online free Una contribución calificada es una contribución caritativa que se ha pagado en efectivo o con cheque después del 27 de agosto del 2005 y antes del 1 de enero del 2006, a una organización con un límite del 50% (fuera de ciertas fundaciones privadas que se describen en la sección 509(a)(3)) si usted opta por dejar que el límite del 50% no sea aplicable a estas contribuciones. File state income tax online free   Su deducción por contribuciones calificadas está limitada a su ingreso bruto ajustado (AGI) menos su deducción por las demás aportaciones caritativas. File state income tax online free Puede traspasar al año siguiente cualquier contribución que no haya podido deducir en el 2005 debido a este límite. File state income tax online free En el año 2006, use la cantidad traspasada de sus contribuciones calificadas que no haya usado como traspaso de contribuciones sujetas al límite del 50%. File state income tax online free Excepción. File state income tax online free   Las contribuciones calificadas no incluyen a una contribución hecha a un fondo o cuenta separados para el(la) cual usted (o cualquier persona a quien usted nombre o designe) tenga o espere tener privilegios de asesoría relacionados con las distribuciones o inversiones basadas en su contribución. File state income tax online free Sociedades anónimas. File state income tax online free   Una sociedad anónima puede elegir deducir contribuciones calificadas en efectivo independientemente del límite del 10% sobre el ingreso tributable, si las contribuciones se efectuaron después del 27 de agosto del 2005 pero antes del 1 de enero del 2006 a una organización caritativa calificada (sin incluir ciertas fundaciones privadas que se describen en la sección 509(a)(3)), para ayudar en las tareas de socorro del huracán Katrina, Rita o Wilma. File state income tax online free La deducción de la sociedad anónima por estas contribuciones calificadas se limita al 100% del ingreso tributable (tal como se modificó para el límite del 10%) menos la deducción de dicha sociedad anónima por el resto de sus contribuciones caritativas. File state income tax online free Cualquier contribución calificada que sobrepase ese límite podrá traspasarse a los próximos 5 años, sujeta al límite del 10%. File state income tax online free Socios colectivos y accionistas. File state income tax online free   Cada socio(a) de una sociedad colectiva y cada accionista de una sociedad anónima de tipo "S" elige por separado no aplicar el límite correspondiente. File state income tax online free Más información. File state income tax online free   Para obtener mayor información, vea la Publicación 526, Charitable Contributions (Contribuciones Caritativas) o la Publicación 542, Corporations (Sociedades Anónimas), ambas en inglés. File state income tax online free La Publicación 526 incluye una hoja de trabajo que puede utilizar para determinar su deducción si es que hay algún límite que sea aplicable a sus contribuciones caritativas. File state income tax online free Tasa Estándar por Milla para el Uso de Vehículos para Fines Caritativos A continuación se indican las tasas estándar por milla especiales que entraron en vigencia en el 2005 y 2006 para cubrir el costo del uso de su automóvil con fines caritativos que estén únicamente relacionados con el huracán Katrina. File state income tax online free 29 centavos por milla durante el período del 25 al 31 de agosto del 2005. File state income tax online free 34 centavos por milla durante el período del 1 de septiembre al 31 de diciembre del 2005. File state income tax online free 32 centavos por milla durante el período del 1 de enero al 31 de diciembre del 2006. File state income tax online free Reembolsos de Millas a Voluntarios que Prestaron Servicios con Fines Caritativos Usted puede excluir de su ingreso cantidades de dinero que reciba como reembolso de millas por usar un automóvil de pasajeros privado a fin de beneficiar a una organización caritativa calificada que proporciona servicios de socorro relacionados con el huracán Katrina durante el período del 25 de agosto del 2005 al 31 de diciembre del 2006. File state income tax online free No puede reclamar una deducción o crédito por cantidades que reciba como reembolso de millas recorridas. File state income tax online free Usted debe mantener documentadas las millas recorridas, la hora, el lugar (o uso) y propósito del uso de esas millas. File state income tax online free La cantidad que puede excluir del ingreso no puede ser mayor a la tasa estándar por milla para fines laborales (que se muestra a continuación) por gastos en los que incurrió durante los siguientes períodos: 40. File state income tax online free 5 centavos por milla para el período del 25 al 31 de agosto del 2005. File state income tax online free 48. File state income tax online free 5 centavos por milla para el período del 1 de septiembre al 31 de diciembre del 2005. File state income tax online free 44. File state income tax online free 5 centavos por milla para el período del 1 de enero al 31 de diciembre del 2006. File state income tax online free Deducción Caritativa por Contribuciones de Inventario de Alimentos Cualquier contribuyente que trabaje en un oficio o negocio que es elegible para reclamar una deducción por la contribución de un inventario de “alimentos evidentemente nutritivos” a una organización caritativa calificada descrita en la sección 501(c)(3) (a excepción de fundaciones privadas de carácter no operacional) después del 27 de agosto del 2005 y antes del 1 de enero del 2006. File state income tax online free Los “alimentos evidentemente nutritivos” son aquellos que reúnen las normas de calidad y contenido de etiquetas que imponen las leyes y reglamentos federales, estatales y locales, aunque es posible que los alimentos no estén listos para la comercialización debido a su apariencia, punto de maduración, frescura, categoría, tamaño, excedente u otras condiciones. File state income tax online free La deducción es equivalente al menor de uno de los siguientes: La base de los alimentos donados, más la mitad de la ganancia que se hubiera obtenido si dichos alimentos se hubieran vendido al valor normal en el mercado en la fecha de donación o Dos veces la base de los alimentos donados. File state income tax online free El(La) contribuyente debe recibir una certificación de parte del donatario que establezca lo siguiente: Que los alimentos donados se relacionan con la finalidad o la función de la base para exención del donatario conforme a la sección 501(c)(3) y han de usarse únicamente para fines de cuidado de personas enfermas, necesitadas o niños de corta edad y Que los alimentos no se proporcionaron a cambio de dinero, de otra propiedad o servicios algunos. File state income tax online free En el caso de un(a) contribuyente que no sea una sociedad anónima de tipo "C", la deducción se limita al 10% del ingreso total neto del(la) contribuyente de todas las actividades comerciales o empresariales de las cuales se efectuaron las contribuciones (calculada sin considerar la deducción por contribuciones caritativas). File state income tax online free Por ejemplo, si un(a) contribuyente es un(a) empresario(a) por cuenta propia, un(a) accionista de una sociedad anónima de tipo "S" y además es socio(a) de una sociedad colectiva y cada una de estas entidades efectuó una contribución de inventario de alimentos evidentemente nutritivos, la deducción del(la) contribuyente está limitada al 10% del ingreso total neto de su empresa por cuenta propia, sociedad anónima de tipo "S" y sociedad colectiva (calculada sin considerar la deducción por contribuciones caritativas). File state income tax online free Deducción Caritativa por Contribuciones de Inventarios de Libros a Escuelas Públicas A una sociedad anónima (que no sea una sociedad anónima de tipo "S") se le pudiera permitir tomar una deducción caritativa por alguna contribución calificada de libros que haya efectuado después del 27 de agosto del 2005 y antes del 1 de enero del 2006 a una escuela pública que: Imparte una educación primaria o secundaria (kinder hasta el grado número 12, inclusive) y Normalmente mantiene un profesorado docente y un programa de estudios normal y cuenta con estudiantes que asisten al lugar donde las actividades educativas se realizan de manera habitual. File state income tax online free La deducción es equivalente al menor de una de las siguientes: La base de los libros donados, más la mitad de la ganancia que se hubiera realizado si dichos libros donados se hubieran vendido al valor normal en el mercado en la fecha de donación o Dos veces la base de los libros donados. File state income tax online free La sociedad anónima debe recibir certificación por escrito de la escuela que establezca que los libros donados son adecuados para los programas educativos que imparte la institución y que se utilizarán para esos programas. File state income tax online free Pérdidas por Hechos Fortuitos y Robos Los siguientes párrafos explican los cambios realizados a las pérdidas por hechos fortuitos y robos ocasionadas por el huracán Katrina, Rita o Wilma. File state income tax online free Para mayor información, vea la Publicación 547(SP), en español. File state income tax online free Límites sobre las pérdidas personales por hechos fortuitos o robos ocasionadas por el huracán Katrina, Rita o Wilma. File state income tax online free   Las siguientes pérdidas de bienes de uso personal no están sujetas a los límites del 100% o del 10% del ingreso bruto ajustado: Las pérdidas que surgieron en la zona de desastre del huracán Katrina después del 24 de agosto del 2005 y que fueron causadas por el huracán Katrina. File state income tax online free Las pérdidas que surgieron en la zona de desastre del huracán Rita después del 22 de septiembre del 2005 y que fueron causadas por el huracán Rita. File state income tax online free Las pérdidas que surgieron en la zona de desastre del huracán Wilma después del 22 de octubre del 2005 y que fueron causadas por el huracán Wilma. File state income tax online free Las pérdidas calificadas incluyen aquellas por inundaciones u otros hechos fortuitos y por robo que se hayan originado en la zona de desastre del huracán y que fueron provocadas por éste. File state income tax online free Instrucciones especiales para personas que eligen reclamar una pérdida por hechos fortuitos o robos a causa del huracán Katrina, Rita o Wilma para el 2004. File state income tax online free   Las pérdidas por hechos fortuitos y robos por lo general se deducen sólo en el año en el cual el hecho fortuito ocurrió o se descubrió el robo. File state income tax online free Sin embargo, los huracanes Katrina, Rita y Wilma son desastres declarados por el Presidente. File state income tax online free Por lo tanto, en su declaración de impuestos del año anterior, puede elegir deducir las pérdidas que sufrió debido a estos huracanes. File state income tax online free Si decide hacerlo, utilice las instrucciones siguientes para llenar sus formas. File state income tax online free   Las personas que presentan o enmiendan su declaración de impuestos del 2004 cuyas únicas pérdidas por hecho fortuito o robo de sus bienes personales que incluyeron en esa declaración fueron ocasionadas por el huracán Katrina, Rita o Wilma deben anotar lo siguiente en la parte superior de la Forma 1040 ó 1040X: “Hurricane Katrina”, “Hurricane Rita” o “Hurricane Wilma”. File state income tax online free También han de completar y adjuntar la Forma 4684, en inglés y escribir “Hurricane Katrina”, “Hurricane Rita” o “Hurricane Wilma” en la línea de puntos junto a la línea 11 y anote -0- en las líneas 11 y 17. File state income tax online free   Las personas que presentan o enmiendan su declaración de impuestos del 2004 y que también hayan sufrido una pérdida de sus bienes personales por hecho fortuito o robo no relacionada con los huracanes Katrina, Rita o Wilma, no deben tomar en cuenta la precaución para otros contribuyentes que aparece por encima de la línea 13, la cual estipula que se use una sola Forma 4684, sino que deben completar las líneas de la 13 a la 18 en dos Formas 4684, en inglés. File state income tax online free La Forma 1040 ó 1040X y la primera Forma 4684 deben prepararse como se explica anteriormente sólo para pérdidas provocadas por el huracán Katrina, Rita o Wilma. File state income tax online free La segunda Forma 4684 debe ser preparada de la manera acostumbrada para todas las ganancias y para aquellas pérdidas que no sean relacionadas con el huracán Katrina, Rita o Wilma. File state income tax online free Si ambas Formas 4684 muestran una pérdida en la línea 18, deben incorporar las pérdidas combinadas de esa línea en la línea 19 del Anexo A (Forma 1040). File state income tax online free Si en la segunda Forma 4684 hay alguna ganancia en la línea 15, no tome en cuenta las instrucciones de anotar dicha ganancia en el Anexo D (Forma 1040) sino que anote en la línea 19 del Anexo A (Forma 1040) el excedente de la pérdida de la primera Forma 4684 sobre la ganancia proveniente de la línea 15 de la segunda Forma 4684. File state income tax online free Plazo para hacer la elección. File state income tax online free   Usted debe hacer la elección de reclamar su pérdida por hecho fortuito o robo en el 2004, en la fecha más tardía de entre las siguientes: La fecha de vencimiento (sin prórrogas) para presentar su declaración de impuestos sobre el ingreso del 2005. File state income tax online free La fecha de vencimiento (con prórrogas) para presentar su declaración de impuestos sobre el ingreso del 2004. File state income tax online free Ejemplo 1. File state income tax online free Ejemplo. File state income tax online free Si usted es un(a) contribuyente de año calendario, tiene hasta el 17 de abril del 2006 para enmendar su declaración de impuestos del 2004, si desea reclamar una pérdida por hechos fortuitos o robo que haya ocurrido durante el 2005. File state income tax online free Período de Reposición para que las Ganancias no sean Reconocidas Por lo general, una conversión involuntaria ocurre cuando los bienes han sido dañados, destruidos, robados, incautados (confiscados), requisados o expropiados (condenados) y usted recibe otros bienes o dinero en pago, como por ejemplo, una indemnización que recibió del seguro o una indemnización por expropiación (condenación). File state income tax online free Por lo general, no es necesario que declare una ganancia (si la existe) si reemplaza la propiedad dentro de 2 años (4 años en el caso de un hogar principal ubicado en una zona de desastre declarada por el Presidente). File state income tax online free Sin embargo, si los bienes fueron convertidos involuntariamente después del 24 de agosto del 2005 debido al huracán Katrina, se aplicará un plazo de reposición de 5 años si la mayor parte del uso de los bienes de reposición se encuentra en la zona de desastre del huracán Katrina. File state income tax online free Para obtener mayor información, vea las Instrucciones para la Forma 4684, en inglés. File state income tax online free Pérdidas Netas de Operación Pérdida calificada en una Zona GO. File state income tax online free   Por lo general, usted puede traspasar una pérdida neta de operación (conocida por sus siglas en inglés, NOL) a los 2 años tributarios anteriores al año de dicha NOL. File state income tax online free Sin embargo, la porción de una NOL que es una pérdida calificada de la Zona GO puede traspasarse a los 5 años tributarios anteriores al año de dicha NOL. File state income tax online free Asimismo, el límite del 90% sobre la deducción por el impuesto alternativo del NOL (conocido por sus siglas en inglés, ATNOLD) no aplica a dicha porción de ATNOLD. File state income tax online free   Una pérdida calificada de la Zona GO es la menor de una de las siguientes: La pérdida neta de operación (NOL) en exceso de ese año sobre una pérdida de responsabilidad específica de ese año a la cual aplica un traspaso de 10 años. File state income tax online free El total de las siguientes deducciones (hasta el punto en que se tomen en consideración al calcular la NOL para ese año tributario): Pérdida calificada por hechos fortuitos de la Zona GO (según se define a continuación), Los gastos de mudanza que se hayan pagado o en los que haya incurrido después del 27 de agosto del 2005 y antes del 1 de enero del 2008, por emplear a una persona cuyo hogar principal se encontraba ubicado en la Zona GO antes del 28 de agosto del 2005 y que no pudo permanecer en esa vivienda a causa del huracán Katrina y cuya ubicación laboral principal (después de esa mudanza) se encuentra en la Zona GO, Gastos temporales de vivienda que haya pagado o en los que haya incurrido después del 27 de agosto del 2005 y antes del 1 de enero del 2008, para albergar a empleados del(la) contribuyente cuya ubicación laboral principal se encontraba en la Zona GO, La depreciación o amortización permisible para cualquier propiedad de la Zona GO por el año en que fue puesta en servicio (aún si decidió no reclamar el descuento por depreciación especial de la Zona GO para dicha propiedad en esa zona) y Gastos de reparación (incluyendo aquellos para la remoción de escombros) que haya pagado o en los que haya incurrido después del 27 de agosto del 2005 y antes del 1 de enero del 2008 por cualquier daño que haya causado el huracán Katrina a la propiedad ubicada en la Zona GO. File state income tax online free Pérdida por hechos fortuitos calificada en una Zona GO. File state income tax online free   Una pérdida por hechos fortuitos calificada por hechos fortuitos en la Zona GO es cualquier pérdida de propiedad deducible bajo la sección 1231 que se encuentra ubicada en la Zona GO si dicha pérdida fue ocasionada por el huracán Katrina. File state income tax online free Para estos fines, la cantidad de la pérdida se reduce a partir de cualquier ganancia reconocida de una conversión involuntaria de propiedad ubicada en la Zona GO a causa del huracán Katrina. File state income tax online free Esa pérdida que se consideró al calcular su pérdida calificada para la Zona GO no reúne las condiciones necesarias para la opción de ser considerada pérdida ocurrida durante el año tributario previo. File state income tax online free Traspaso a 5 años de NOL por ciertas pérdidas en actividades madereras. File state income tax online free   Por lo general, usted puede traspasar una parte de una pérdida neta de operación (NOL) debida al ingreso y a las deducciones atribuibles a una actividad agrícola a los 5 años tributarios anteriores al año de dicha pérdida. File state income tax online free Usted puede tratar el ingreso y las deducciones atribuibles a propiedad maderera calificada como atribuibles a una empresa agrícola si cualquier parte de la propiedad se encuentra ubicada en la Zona GO, la Zona GO Rita o la Zona GO Wilma y el ingreso y deducciones son asignables a la parte de su año tributario posterior a la fecha siguiente que corresponda: El 27 de agosto del 2005 si cualquier parte de la propiedad se encuentra ubicada en la Zona GO. File state income tax online free El 22 de septiembre del 2005 si cualquier parte de la propiedad se encuentra ubicada en la Zona GO de Rita (pero no en la Zona GO). File state income tax online free El 22 de octubre del 2005 si cualquier parte de la propiedad se encuentra ubicada en la Zona GO de Wilma (pero no en la Zona GO o en la Zona GO de Rita). File state income tax online free   Estas reglas no serán aplicables después del 2006. File state income tax online free   Sin embargo, estas reglas sólo serán aplicables a un productor maderero que cumpla con lo siguiente: Tiene propiedad de producción maderera calificada (según se define en la Publicación 535, Business Expenses (Gastos de Negocio), en inglés) en la fecha correspondiente a continuación: El 28 de agosto del 2005 si cualquier parte de la propiedad se encuentra ubicada en la Zona GO, El 23 de septiembre del 2005 si cualquier parte de la propiedad se encuentra ubicada en la Zona GO de Rita (pero no en la Zona GO) o El 23 de octubre del 2005 si cualquier parte de la propiedad se encuentra ubicada en la Zona GO de Wilma (pero no en la Zona GO o en la Zona GO de Rita); No sea una sociedad anónima con transacción pública de acciones en un mercado de valores establecido; No sea un fideicomiso para la inversión en bienes inmuebles; No sea dueño(a) de más de 500 acres de propiedad de actividad maderera calificada en las fechas anteriores que correspondan. File state income tax online free Más información. File state income tax online free   Para obtener mayor información sobre las pérdidas netas de operación, vea la Publicación 536, Net Operating Losses (Pérdidas Netas de Operación) o la Publicación 542, Corporations (Sociedades Anónimas), ambas en inglés. File state income tax online free Las Cuentas IRA y Otros Planes de Jubilación Nuevas reglas permiten retiros de dinero favorecidos por los impuestos, pagos de reintegro y préstamos de ciertos planes de jubilación para aquellos contribuyentes que sufrieron pérdidas económicas como consecuencia del huracán Katrina, Rita o Wilma. File state income tax online free Definiciones Distribución calificada por motivos del huracán. File state income tax online free   La distribución calificada por motivos de un huracán es cualquier distribución que haya recibido de un plan si lo siguiente es aplicable: La distribución se efectuó en las siguientes fechas: Después del 24 de agosto del 2005 y antes del 1 de enero del 2007 en el caso del huracán Katrina; Después del 22 de septiembre del 2005 y antes del 1 de enero del 2007 en el caso del huracán Rita o Después del 22 de octubre del 2005 y antes del 1 de enero del 2007 en el caso del huracán Wilma. File state income tax online free Su hogar principal se encontraba ubicado en una zona de desastre del huracán que aparece a continuación en la fecha determinada como se indica: El 28 de agosto del 2005 para la zona de desastre del huracán Katrina. File state income tax online free El 23 de septiembre del 2005 para la zona de desastre del huracán Rita. File state income tax online free El 23 de octubre del 2005 para la zona de desastre del huracán Wilma. File state income tax online free Usted sostuvo una pérdida económica debido al huracán Katrina, Rita o Wilma y su hogar principal se encontraba en esa zona de desastre en la fecha indicada en la sección 2) anterior. File state income tax online free Algunos ejemplos de pérdida económica incluyen, pero no se limita a: La pérdida, el daño o la destrucción de bienes inmuebles o personales debido a un incendio, inundación, saqueo, vandalismo, robo, viento u otras causas; La pérdida por haber quedado desamparado(a) (sin hogar) o La pérdida de medios de manutención (sostenimiento) propia debido a desempleo temporal o despidos permanentes. File state income tax online free   Si son aplicables las secciones de la 1) a la 3), por lo general, usted puede designar cualquier distribución (incluyendo los pagos periódicos y distribuciones mínimas requeridas) de un plan de jubilación elegible, independientemente de si esa distribución se efectuó a cuenta del huracán Katrina, Rita o Wilma. File state income tax online free Las distribuciones calificadas del huracán son permitidas sin tomar en cuenta la necesidad o cantidad real de su pérdida económica. File state income tax online free   El total de sus distribuciones calificadas de todos los planes está limitada a $100,000. File state income tax online free Si tiene distribuciones que superan los $100,000 a través de más de una clase de plan, como por ejemplo, un plan 401(k) y una cuenta IRA, usted puede asignar el límite de $100,000 entre esos planes según prefiera. File state income tax online free   Una reducción o compensación del balance de su cuenta (después del 24 de agosto del 2005 en el caso de Katrina; después del 22 de septiembre del 2005 en el caso de Rita; o después del 22 de octubre del 2005 para Wilma) en un plan de jubilación elegible para poder pagar un préstamo también puede designarse como distribución calificada por motivos del huracán. File state income tax online free Plan de jubilación elegible. File state income tax online free   Un plan de jubilación elegible puede ser cualquiera de los siguientes: Un plan calificado de pensión, de participación en las ganancias o de participación (bonificación) en acciones (incluyendo un plan 401(k)). File state income tax online free Un plan de anualidad calificado. File state income tax online free Un contrato de anualidad con abrigo tributario. File state income tax online free Un plan de compensación diferida gubernamental bajo la sección 457. File state income tax online free Una cuenta IRA de tipo SEP, SIMPLE o Roth. File state income tax online free Hogar principal. File state income tax online free   Por lo general, su hogar principal es el lugar donde usted vive la mayor parte del tiempo. File state income tax online free Una ausencia temporal debido a circunstancias especiales, tales como una enfermedad, educación, negocios, servicio militar, evacuación o vacaciones no cambiará su lugar principal de residencia u hogar principal. File state income tax online free Tributación de Distribuciones Calificadas por Motivos de un Huracán Las distribuciones calificadas por motivo de un huracán se incluyen en el ingreso en cantidades iguales durante un período de tres años. File state income tax online free Sin embargo, si así lo elige, puede incluir el total de la distribución en su ingreso para el año en que la recibió. File state income tax online free Las distribuciones calificadas por motivos del huracán no están sujetas al impuesto del 10% adicional (o el impuesto del 25% adicional en el caso de ciertas distribuciones de una cuenta SIMPLE IRA) sobre distribuciones tempranas provenientes de planes de jubilación calificados (incluyendo a cuentas IRA). File state income tax online free Sin embargo, cualquier distribución que usted reciba en exceso del límite de distribución calificado de $100,000 por motivos de un huracán puede estar sujeta al impuesto adicional sobre las distribuciones tempranas. File state income tax online free Para obtener más información, vea la Forma 8915, Qualified Hurricane Retirement Plan Distributions and Repayments (Distribuciones y Devoluciones (Reintegros) de Pagos Calificados de Planes de Jubilación a Causa de un Huracán), en inglés. File state income tax online free Reintegro de Distribuciones Calificadas por Motivos de un Huracán Si así lo escoge, por lo general, puede reintegrar cualquier porción de una distribución calificada hecha como consecuencia de un huracán que es elegible para ser reinvertida libre de impuestos en un plan de jubilación elegible. File state income tax online free Asimismo, también puede reintegrar una distribución calificada por motivo de un huracán proveniente de un plan de jubilación que se haya efectuado a causa de una situación grave (infortunio). File state income tax online free Sin embargo, para averiguar más sobre las distribuciones calificadas hechas como consecuencia de un huracán que no puede reintegrar, vea, Excepciones, a continuación. File state income tax online free Usted tiene tres años a partir del día siguiente a la fecha en que recibió la distribución para reintegrarla. File state income tax online free Las cantidades que usted reintegra se consideran una reinversión calificada y no se incluyen en su ingreso. File state income tax online free Del mismo modo, para propósitos de la limitación de realizar una sola reinversión por año que tienen las cuentas IRA, un reintegro a una cuenta IRA no se considera una reinversión calificada. File state income tax online free Para obtener mayor información sobre cómo declarar los reintegros, vea la Forma 8915, en inglés. File state income tax online free Excepciones. File state income tax online free   Usted no puede reintegrar los siguientes tipos de distribuciones: Distribuciones calificadas debido al huracán que haya recibido como beneficiario(a) (que no sea un(a) cónyuge sobreviviente). File state income tax online free Distribuciones mínimas requeridas. File state income tax online free Pagos periódicos (que no sean de aquellos de una cuenta IRA) que son para: Un período de 10 años o más, Su vida o su expectativa de vida o El período de vida conjunta o expectativas de vida conjunta para usted y su beneficiario(a). File state income tax online free Reintegro de Distribuciones Calificadas por la Compra o Construcción de un Hogar Principal Si recibe una distribución calificada para comprar o construir un hogar principal en la zona de desastre del huracán Katrina, Rita o Wilma, usted puede hacer los reintegros de esa distribución antes del 1 de marzo del 2006 a un plan de jubilación elegible después del 24 de agosto del 2005 (Katrina); después del 22 de septiembre del 2005 (Rita); o después del 22 de octubre del 2005 (Wilma). File state income tax online free Para estos propósitos, un plan de jubilación elegible es aquel plan, anualidad o cuenta IRA en el cual se puede efectuar una reinversión. File state income tax online free Para que una distribución sea calificada, ésta debe cumplir con los requisitos siguientes: La distribución es una distribución hecha como consecuencia de una situación grave (infortunio) de un plan 401(k), de un contrato de anualidad con abrigo tributario o la distribución de una cuenta IRA para una persona que por primera vez compra una vivienda. File state income tax online free La distribución se recibió en el año 2005 después del 28 de febrero y antes de las siguientes fechas: El 29 de agosto en el caso del huracán Katrina. File state income tax online free El 24 de septiembre en el caso del huracán Rita. File state income tax online free El 24 de octubre en el caso del huracán Wilma. File state income tax online free La distribución se iba a utilizar para comprar o construir un hogar principal en la zona de desastre del huracán Katrina, Rita o Wilma que no fue adquirido o construido debido a estos huracanes. File state income tax online free Las cantidades que se reintegren antes del 1 de marzo del 2006 se considerarán reinversión calificada y no se incluirán en el ingreso. File state income tax online free Del mismo modo, y para propósitos de la limitación de una sola reinversión por año que corresponde a las cuentas IRA, un reintegro a una cuenta IRA no se considerará reinversión calificada. File state income tax online free Las distribuciones calificadas que no se reintegren antes del 1 de marzo del 2006 pueden estar sujetas a impuestos para el 2005 y al impuesto del 10% adicional sobre las distribuciones tempranas (o al impuesto del 25% adicional en el caso de ciertos planes de cuentas SIMPLE IRA). File state income tax online free Usted debe presentar la Forma 8915, en inglés, si recibió alguna distribución calificada que haya reintegrado, en su totalidad o en parte, antes del 1 de marzo del 2006. File state income tax online free Préstamos Provenientes de Planes Calificados Los siguientes beneficios se encuentran disponibles para personas calificadas: Aumentos a los límites de distribución que se tratan como préstamos de planes provistos por el(la) patrono(a) o empleador(a). File state income tax online free Una suspensión de un año para pagos que vencen sobre préstamos a través de algún plan. File state income tax online free Persona calificada. File state income tax online free   Usted es una persona calificada si son aplicables cualesquiera de las siguientes condiciones: El 28 de agosto del 2005 su hogar principal se encontraba en la zona de desastre del huracán Katrina y tuvo una pérdida económica debido a este huracán. File state income tax online free El 23 de septiembre del 2005 su hogar principal se encontraba en la zona de desastre del huracán Rita y tuvo una pérdida económica debido a este huracán. File state income tax online free El 23 de octubre del 2005 su hogar principal se encontraba en la zona de desastre del huracán Wilma y tuvo una pérdida económica debido a este huracán. File state income tax online free Ejemplos de pérdida económica incluyen, pero no se limitan a: La pérdida, daño o destrucción de bienes inmuebles o personales debido a un incendio, inundación, saqueo, vandalismo, robo, viento u otra causa; La pérdida por haber quedado desamparado(a) (sin hogar) o La pérdida de los medios de manutención (sostenimiento) debido a despidos temporales o permanentes. File state income tax online free Límites sobre los préstamos de planes. File state income tax online free   El límite de $50,000 para distribuciones que se consideran préstamos de un plan se ha aumentado a $100,000. File state income tax online free Además, el límite basado en el 50% de sus beneficios acumulados protegidos se ha aumentado al 100% de dichos beneficios. File state income tax online free Los límites más altos son únicamente aplicables a préstamos recibidos durante el siguiente período: Si su hogar principal estaba ubicado en la zona de desastre del huracán Katrina, el período comenzó el 24 de septiembre del 2005 y termina el 31 de diciembre del 2006. File state income tax online free Si su hogar principal estaba ubicado en la zona de desastre del huracán Rita o Wilma, el período comenzó el 21 de diciembre del 2005 y termina el 31 de diciembre del 2006. File state income tax online free Si usted es una persona calificada según las condiciones para el caso del huracán Katrina y según otro huracán, utilice el período basado en el huracán Katrina. File state income tax online free Suspensión de un año de los pagos de préstamos. File state income tax online free   El(La) administrador(a) de un plan puede suspender por un año los pagos de préstamos de aquel plan con vencimiento antes del 2007. File state income tax online free Para calificar para esta suspensión, la fecha de vencimiento de cualquier pago de esos préstamos debe ocurrir durante el período que comienza: El 25 de agosto del 2005 si su hogar principal se encontraba ubicado en la zona de desastre del huracán Katrina. File state income tax online free El 23 de septiembre del 2005 si su hogar principal se encontraba ubicado en la zona de desastre del huracán Rita. File state income tax online free El 23 de octubre del 2005 si su hogar principal se encontraba ubicado en la zona de desastre del huracán Wilma. File state income tax online free Si es una persona calificada por motivo de más de un huracán, utilice el período con la fecha de inicio más temprana. File state income tax online free Alivio Tributario Adicional para Personas Físicas Crédito por Ingreso del Trabajo y Crédito Tributario por Hijos Usted puede elegir usar su ingreso del trabajo del 2004 para calcular su crédito por ingreso del trabajo (conocido por sus siglas en inglés, EIC) del 2005 y el crédito tributario adicional por hijos si cumple con lo siguiente: Su ingreso del trabajo del 2005 es menor a su ingreso del trabajo del 2004 y Por lo menos una de las siguientes aseveraciones es cierta: El 25 de agosto del 2005 su hogar principal se encontraba en la Zona de Oportunidad del Golfo (GO). File state income tax online free El 25 de agosto del 2005 su hogar principal se encontraba en la zona de desastre del huracán Katrina y tuvo que abandonar esa vivienda a causa del huracán Katrina. File state income tax online free El 23 de septiembre del 2005 su hogar principal se encontraba en la Zona GO de Rita. File state income tax online free El 23 de septiembre del 2005 su hogar principal se encontraba en la zona de desastre del huracán Rita y tuvo que abandonar esa vivienda a causa del huracán Rita. File state income tax online free El 23 de octubre del 2005 su hogar principal se encontraba en la Zona GO de Wilma. File state income tax online free El 23 de octubre del 2005 su hogar principal se encontraba en la zona de desastre del huracán Wilma y usted tuvo que abandonar esa vivienda por causa del huracán Wilma. File state income tax online free Ingreso del trabajo. File state income tax online free   Para propósitos de esta elección, su ingreso del trabajo tanto para el EIC como para el crédito tributario adicional por hijos es la cantidad de ingreso del trabajo que se utiliza para calcular su EIC, aún si no reclamó el EIC y aun cuando esa cantidad sea distinta a su ingreso del trabajo para el crédito tributario adicional por hijos. File state income tax online free Si está reclamando sólo el crédito tributario adicional por hijos, usted debe calcular la cantidad de su ingreso del trabajo para propósitos del EIC a fin de determinar si es elegible para hacer la elección y determinar la cantidad del crédito. File state income tax online free Declaraciones conjuntas. File state income tax online free   Si presenta una declaración de impuestos conjuntamente con su cónyuge, usted califica para hacer esta elección aún si sólo un(a) cónyuge satisface los requisitos. File state income tax online free Si hace esta elección, su ingreso del trabajo del 2004 es la suma de su ingreso del trabajo y el de su cónyuge durante el 2004. File state income tax online free Cómo hacer la elección. File state income tax online free   Si decide usar su ingreso del trabajo del 2004, esta elección es aplicable para calcular su EIC y su crédito tributario adicional por hijos. File state income tax online free Sin embargo, puede elegir este último crédito aún si no ha elegido reclamar el EIC. File state income tax online free   Si elige usar su ingreso del trabajo del 2004, esto puede aumentar o disminuir su EIC. File state income tax online free Siga los siguientes pasos para decidir si va a hacer esa elección o no: Calcule su EIC del 2005 utilizando su ingreso del trabajo del 2004. File state income tax online free Calcule su crédito tributario adicional por hijos del 2005 utilizando su ingreso del trabajo del 2004 para propósitos del EIC. File state income tax online free Sume los resultados de (1) y (2). File state income tax online free Calcule su EIC del 2005 utilizando su ingreso del trabajo del 2005. File state income tax online free Calcule su crédito tributario adicional por hijos utilizando su ingreso del trabajo del 2005 para propósitos del crédito tributario adicional por hijos. File state income tax online free Sume los resultados de (4) y (5). File state income tax online free Compare los resultados de los números (3) y (6). File state income tax online free Si la cantidad de (3) es mayor que la de (6), será a beneficio suyo hacer esta elección. File state income tax online free Si la cantidad de (3) es igual o menor que la de (6), no le ayudará hacer esta elección. File state income tax online free   Si elige utilizar su ingreso del trabajo del 2004 y está reclamando el EIC, escriba “PYEI” y la cantidad de su ingreso del trabajo del 2004 sobre la línea de puntos junto a la línea 66a de la Forma 1040, en la línea directamente al lado de la línea 41a de la Forma 1040A o en el espacio a la izquierda de la línea 8a de la Forma 1040EZ. File state income tax online free   Si elige utilizar su ingreso del trabajo del 2004 y está reclamando el crédito tributario adicional por hijos, anote su ingreso del trabajo del 2004 para fines del EIC (aún si no reclamó el EIC) en la línea 4a de la Forma 8812, Additional Child Tax Credit (Crédito Tributario Adicional por Hijos), en inglés y marque el encasillado correspondiente en esa línea. File state income tax online free   Debido a que la Forma 8812 se publicó antes de que entrara en vigencia la legislación de la Zona GO, las instrucciones se refieren únicamente a personas cuyo hogar principal estaba en la zona de desastre del huracán Katrina. File state income tax online free Cuando llene la línea 4a de la Forma 8812, utilice las reglas anteriores para poder determinar si es elegible para hacer esa elección (en lugar de las instrucciones de la Forma 8812). File state income tax online free Cómo obtener la información de su declaración de impuestos para el 2004. File state income tax online free   Si usted no tiene los registros de sus impuestos del 2004, puede obtener la cantidad de ingreso del trabajo que se usó para calcular su EIC del 2004 llamando al número 1-866-562-5227. File state income tax online free También puede obtener esta información en el cibersitio del IRS en www. File state income tax online free irs. File state income tax online free gov. File state income tax online free   Si prefiere calcular usted mismo(a) su ingreso del trabajo para el 2004, copias o apógrafos de sus declaraciones de impuestos presentadas y procesadas le pueden servir para reconstruir sus registros tributarios. File state income tax online free Vea, Solicitud de Copia o Apógrafo de la Declaración de Impuestos, en la página 19. File state income tax online free Exenciones Adicionales por la Provisión de Vivienda para Personas que Tuvieron que Abandonar sus Hogares por Causa del Huracán Katrina Es posible que pueda reclamar una exención adicional de $500 por cada persona desamparada a causa del huracán Katrina y que usted haya albergado en su hogar principal. File state income tax online free Puede reclamar esta exención adicional en la nueva Forma 8914, Exemption Amount for Taxpayers Housing Individuals Displaced by Hurricane Katrina (Cantidad de la Exención para Contribuyentes dando Alojamiento a Personas Desplazadas por el Huracán Katrina), disponible en inglés. File state income tax online free La cantidad de la exención adicional es permisible una vez por contribuyente en el caso de una persona determinada en el año 2005 ó 2006, pero no en ambos años. File state income tax online free La cantidad de la exención adicional máxima que usted puede reclamar por todas las personas desamparadas es de $2,000 ($1,000 si es casado(a) que presenta por separado). File state income tax online free La cantidad de la exención adicional que reclame por personas desamparadas en el 2005 reducirá el máximo de $2,000 para el 2006. File state income tax online free Si dos o más contribuyentes viven en el mismo hogar, sólo uno(a) de ellos puede reclamar la exención adicional por una persona desamparada a quien haya albergado. File state income tax online free Si es casado(a) que presenta por separado, sólo un(a) cónyuge puede pedir esa exención adicional por una persona determinada que haya sido desamparada. File state income tax online free Para que a usted se le pueda considerar que proporcionó vivienda, tiene que tener un interés legal en el hogar principal (es decir, que usted sea el(la) dueño(a) o que alquile). File state income tax online free Para calificar como una persona desamparada, la persona: Debe haber tenido su hogar principal en la zona de desastre del huracán Katrina el 28 de agosto del 2005 y debe haber quedado desamparado(a) (sin hogar). File state income tax online free Si el hogar principal del individuo se encontraba fuera de la zona central del desastre, ese hogar debe haber sufrido daños por el huracán Katrina o la persona debe haber sido evacuada de esa vivienda debido al huracán Katrina, Se le debió haber provisto vivienda en su hogar principal durante un período de por lo menos 60 días consecutivos que concluya durante el año tributario para el cual se reclama la exención y No puede ser su cónyuge o dependiente. File state income tax online free Usted no puede reclamar la exención adicional si recibe alquiler (u otra cantidad) de cualquier fuente por alojamiento. File state income tax online free Se le permite recibir pagos o reembolsos que no estén relacionados con los costos normales de vivienda, entre ellos: Alimentos, ropa o artículos personales que consume o usa la persona desamparada. File state income tax online free Reembolso por el costo de cualquier llamada de larga distancia que haya hecho la persona desamparada. File state income tax online free Reembolso por el costo de la gasolina de su automóvil si la persona desamparada lo utilizó. File state income tax online free Sin embargo, no puede reclamar la exención adicional si recibió un reembolso por los gastos adicionales de calefacción, electricidad o agua utilizada por esa persona desamparada. File state income tax online free Asimismo, usted debe declarar en la Forma 8914, en inglés, el número de seguro social o número de identificación del contribuyente de la persona a quien usted dio alojamiento para poder reclamar una exención adicional. File state income tax online free Para obtener más información, vea la Forma 8914, en inglés. File state income tax online free Créditos Tributarios por Enseñanza Superior Los créditos por enseñanza superior se han ampliado para cualquier año tributario que comience en el 2005 ó 2006 en el caso de aquellos estudiantes que asisten a una institución educacional elegible ubicada en la Zona de Oportunidad del Golfo (estudiantes de GOZ). File state income tax online free El crédito Hope para un(a) estudiante de GOZ se aumenta al 100% de los primeros $2,000 en gastos calificados de educación y al 50% de los $2,000 siguientes en gastos calificados de educación, para lograr un crédito máximo de $3,000 por estudiante. File state income tax online free La tasa del crédito perpetuo (vitalicio) por aprendizaje en el caso de un(a) estudiante de GOZ se aumenta del 20% al 40%. File state income tax online free También se ha ampliado la definición de gastos calificados de educación para un(a) estudiante de GOZ. File state income tax online free Además de la matrícula y los cargos que se requieren para que el(la) estudiante se matricule o asista a una institución educacional elegible, los gastos educativos calificados para un(a) estudiante de GOZ incluirán lo siguiente: Libros, materiales y equipo requeridos para la matrícula o la asistencia a una institución educacional elegible. File state income tax online free En el caso de un(a) estudiante con necesidades especiales, los gastos que sean necesarios para la matrícula o asistencia de la persona a una institución de educación elegible. File state income tax online free Para un(a) estudiante que asiste por lo menos a tiempo parcial, los costos razonables de alojamiento y gastos relacionados, pero sólo en la medida en que los costos no excedan la cantidad mayor de las siguientes dos cantidades: La asignación para alojamiento y gastos relacionados de un(a) estudiante, según la determine la institución educacional elegible, que se incluyó en los costos de asistencia a clases (para propósitos de ayuda financiera federal) para un período académico determinado y los arreglos de alojamiento particulares del(la) estudiante. File state income tax online free La cantidad real que se cobra si el(la) estudiante reside en un dormitorio propiedad de la institución educacional elegible o en un dormitorio administrado por dicha institución. File state income tax online free Tendrá que comunicarse con la institución educacional elegible para saber cuáles son los costos calificados de alojamiento y gastos relacionados. File state income tax online free Para obtener más información, vea la Forma 8863, Education Credits (Hope and Lifetime Learning Credits) (Créditos por Enseñanza Superior (Crédito Hope y Crédito Perpetuo (Vitalicio) por Aprendizaje)), en inglés. File state income tax online free Recuperación del Subsidio Hipotecario Federal Por lo general, si usted financió su hogar a través de un programa de subsidio federal (préstamos de bonos hipotecarios calificados exentos de impuesto o préstamos con certificados de crédito hipotecario), es posible que tenga que recuperar todo o parte del beneficio que recibió de ese programa cuando venda o de otro modo se deshaga de su vivienda. File state income tax online free Sin embargo, no tendrá que recuperar beneficio alguno si su préstamo hipotecario estaba calificado para mejoras del hogar no superiores a los $15,000. File state income tax online free Esta cantidad se aumentará a $150,000 si el préstamo se otorgó antes del año 2011 y se usó para los siguientes fines: Reparaciones debidas a daños ocasionados por el huracán Katrina a una residencia dentro de la zona de desastre de dicho huracán o Cambios, reparaciones o mejoras a una residencia existente ocupada por su dueño(a) que se encuentra ubicada en la Zona GO, la Zona GO de Rita o la Zona GO de Wilma. File state income tax online free Exclusión de Ciertas Cancelaciones de Endeudamiento por Motivos del Huracán Katrina Por lo general, el pago de deudas no empresariales realizado después del 24 de agosto del 2005 y antes del 1 de enero del 2007 (tales como las hipotecas), se excluyen del ingreso de aquellas personas cuyo hogar principal se encontraba ubicado en la zona de desastre del huracán Katrina el 25 de agosto del 2005. File state income tax online free Si el hogar principal de la persona estaba fuera de la zona central del desastre, la persona también debe haber tenido pérdida económica a causa del huracán Katrina. File state income tax online free Entre los ejemplos de pérdida económica se incluyen, pero no se limitan a: La pérdida, daño o destrucción de bienes inmuebles o personales debido a un incendio, inundación, saqueo, vandalismo, robo, viento u otra causa; La pérdida por haber quedado desamparado(a) (sin hogar) o La pérdida de los medios de manutención (sostenimiento) debido a despidos temporales o permanentes. File state income tax online free Esta ayuda no aplica a cualquier deuda asegurada por bienes inmuebles ubicados fuera de la zona de desastre del huracán Katrina. File state income tax online free Es posible que también tenga que reducir ciertos atributos tributarios por la cantidad excluida. File state income tax online free Para obtener mayor información al respecto, vea la Forma 982, Reduction of Tax Attributes Due to Discharge of Indebtedness (and Section 1082 Basis of Adjustment) (Reducción de Atributos Tributarios Debida a la Cancelación de Endeudamiento (y el Ajuste a la Base bajo la Sección 1082)), en inglés. File state income tax online free Alivio Tributario para la Reubicación Temporal Conforme a la Gulf Opportunity Zone Act of 2005 (Ley de la Zona de Oportunidad del Golfo del 2005), el IRS puede adaptar las leyes de impuestos internos para asegurar que los contribuyentes no pierdan alguna deducción o crédito o tengan un cambio en su estado civil para efectos de la declaración a causa de alguna reubicación temporal debida al huracán Katrina, Rita o Wilma. File state income tax online free Sin embargo, cualquier ajuste de este tipo debe asegurar que un individuo no sea considerado para los mismos beneficios tributarios a través de más de un(a) contribuyente. File state income tax online free El IRS ha ejercido esta autoridad de la manera siguiente: Al determinar si usted proporcionó más de la mitad del costo de la manutención (sostenimiento) de un hogar, puede excluir del total de los costos del hogar cualquier asistencia que haya recibido del gobierno o de organizaciones caritativas debido a que a usted se le reubicó temporalmente a causa del huracán Katrina, Rita o Wilma. File state income tax online free Al determinar si proporcionó más de la mitad del sostenimiento de una persona, usted puede no tomar en cuenta cualquier ayuda del gobierno o de organizaciones caritativas debido a que a usted se le reubicó temporalmente a causa del huracán Katrina, Rita o Wilma. File state income tax online free Usted puede tratar como estudiante a un individuo que se haya matriculado en una institución educativa antes del 25 de agosto del 2005 y que no pueda asistir a clases debido al huracán Katrina, por cada mes durante el período de matrícula en que dicha persona no puede asistir a clases según lo planificado, a causa del huracán Katrina. File state income tax online free Usted puede tratar como estudiante a un individuo que se haya matriculado en una institución educativa antes del 23 de septiembre del 2005 y que no pueda asistir a clases debido al huracán Rita, por cada mes durante el período de matrícula en que dicha persona no puede asistir a clases según lo planificado, a causa del huracán Rita. File state income tax online free Usted puede tratar como estudiante a un individuo que se haya matriculado en una institución educativa antes del 23 de octubre del 2005 y que no pueda asistir a clases debido al huracán Wilma, por cada mes durante el período de matrícula en que dicha persona no puede asistir a clases según lo planificado, a causa del huracán Wilma. File state income tax online free Alivio Tributario Adicional para Empresas Asignación (Descuento) Especial de Depreciación Usted puede usar una asignación (descuento) especial por depreciación de una propiedad ubicada en la Zona de Oportunidad del Golfo (GO) (definida más adelante) que haya comenzado a usar después del 27 de agosto del 2005. File state income tax online free Esta asignación (descuento) representa una deducción adicional del 50% de la base depreciable de dicha propiedad (después de haber aplicado una deducción bajo la sección 179 y antes de calcular su deducción por depreciación normal). File state income tax online free La asignación (descuento) especial es aplicable únicamente para el primer año en que la propiedad se comenzó a utilizar. File state income tax online free La asignación (descuento) se puede deducir tanto para el impuesto normal como para el impuesto alternativo mínimo (conocido por sus siglas en inglés, AMT). File state income tax online free No se requiere un ajuste del AMT para cualquier depreciación que aparezca en la base restante de la propiedad. File state income tax online free Usted puede elegir por no deducir la asignación (el descuento) especial por depreciación en la Zona GO de alguna propiedad que esté calificada. File state income tax online free Si elige hacer esto para cualquier propiedad, entonces esto será aplicable a toda propiedad que se encuentre en la misma categoría y que haya comenzado a usar durante el año. File state income tax online free Propiedad calificada de la Zona GO. File state income tax online free   La propiedad que califica para la asignación (el descuento) especial por depreciación de la Zona GO incluye a las siguientes: Propiedad tangible depreciada conforme al sistema acelerado y modificado de recuperación de costos (conocido por sus siglas en inglés, MACRS) con un período de recuperación de 20 años o menos. File state income tax online free Propiedad de servicios de agua potable. File state income tax online free Programas de computación que se encuentran a disponibilidad inmediata para la compra del público en general, que están sujetos a una licencia no exclusiva y que no se hayan modificado considerablemente. File state income tax online free (El costo de algunos programas de computación se trata como parte del costo de la maquinaria (hardware) y es depreciado conforme al sistema MACRS). File state income tax online free Propiedad calificada para mejoras con fines de arrendamiento. File state income tax online free Bienes inmuebles no residenciales y bienes muebles residenciales de alquiler. File state income tax online free   Para mayor información, vea la Publicación 946, How to Depreciate Property (Cómo Depreciar los Bienes), en inglés. File state income tax online free Otras pruebas con las que se debe cumplir. File state income tax online free   Para calificar como bienes de la Zona GO, dichos bienes también deben satisfacer las pruebas siguientes: Usted debe haber adquirido la propiedad, a través de la compra, después del 27 de agosto del 2005, pero sólo si no existía un contrato obligatorio por escrito vigente para esa adquisición antes del 28 de agosto del 2005. File state income tax online free La propiedad se debe haber comenzado a usar antes del 2008 (2009 en el caso de bienes inmuebles no residenciales y bienes muebles residenciales de alquiler). File state income tax online free Substancialmente todo el uso de la propiedad debe ocurrir en la Zona GO y durante actividades comerciales y empresariales en operación en la Zona GO. File state income tax online free Usted debe ser quien utiliza por primera vez los bienes o propiedad en la Zona GO después del 27 de agosto del 2005. File state income tax online free Los bienes usados pueden calificar como propiedad de la Zona GO si no han sido usados previamente en la Zona GO. File state income tax online free Asimismo, los gastos de capital adicionales en los que haya incurrido después del 27 de agosto del 2005 con el fin de reacondicionar o reconstruir su propiedad satisfacen la prueba de uso original si fue usted quien comenzó a usar orginalmente esa propiedad en la Zona GO. File state income tax online free Propiedad excluida (sin cobertura). File state income tax online free   La propiedad calificada de la Zona GO no incluye las situaciones siguientes: Propiedad que se requiere ser depreciada utilizando el sistema alternativo de depreciación (conocido por sus siglas en inglés, ADS). File state income tax online free Cualquier parte de una propiedad que sea financiada con las ganancias de una obligación exenta de impuesto conforme a la sección 103. File state income tax online free Propiedad por la cual reclama una deducción por revitalización comercial. File state income tax online free Cualquier propiedad utilizada en conexión con cualquier centro de golf, club campestre, salón de masajes, establecimiento de baños de belleza y establecimientos de bronceado o cualesquier establecimientos, privados o comerciales, cuya actividad comercial principal sea la venta de bebidas alcohólicas para el consumo fuera de los locales. File state income tax online free Cualquier propiedad para las apuestas de juego o de carreras de animales (según se define más adelante). File state income tax online free Propiedad dentro de la misma categoría que aquella por la cual optó por no reclamar una asignación (descuento) especial por depreciación de la Zona GO. File state income tax online free   Una propiedad o bien dedicado a las apuestas o a las carreras de animales se define como: Cualquier equipo, mueble, programa de computación u otros bienes utilizados directamente en actividades de juego con apuestas, carreras de animales o para ver dichas carreras en un estableci
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Page Last Reviewed or Updated: 26-Mar-2014

 

The File State Income Tax Online Free

File state income tax online free Publication 1212 - Main Content Table of Contents Definitions Debt Instruments on the OID List Debt Instruments Not on the OID List Information for Brokers and Other MiddlemenShort-Term Obligations Redeemed at Maturity Long-Term Debt Instruments Certificates of Deposit Bearer Bonds and Coupons Backup Withholding Information for Owners of OID Debt InstrumentsExceptions. File state income tax online free Adjustment for premium. File state income tax online free Adjustment for acquisition premium. File state income tax online free Adjustment for market discount. File state income tax online free Form 1099-OID How To Report OID Figuring OID on Long-Term Debt Instruments Figuring OID on Stripped Bonds and Coupons How To Get Tax HelpLow Income Taxpayer Clinics Definitions The following terms are used throughout this publication. File state income tax online free “Original issue discount” is defined first. File state income tax online free The other terms are listed alphabetically. File state income tax online free Original issue discount (OID). File state income tax online free   OID is a form of interest. File state income tax online free It is the excess of a debt instrument's stated redemption price at maturity over its issue price (acquisition price for a stripped bond or coupon). File state income tax online free Zero coupon bonds and debt instruments that pay no stated interest until maturity are examples of debt instruments that have OID. File state income tax online free Accrual period. File state income tax online free   An accrual period is an interval of time used to measure OID. File state income tax online free The length of an accrual period can be 6 months, a year, or some other period, depending on when the debt instrument was issued. File state income tax online free Acquisition premium. File state income tax online free   Acquisition premium is the excess of a debt instrument's adjusted basis immediately after purchase, including purchase at original issue, over the debt instrument's adjusted issue price at that time. File state income tax online free A debt instrument does not have acquisition premium, however, if the debt instrument was purchased at a premium. File state income tax online free See Premium, later. File state income tax online free Adjusted issue price. File state income tax online free   The adjusted issue price of a debt instrument at the beginning of an accrual period is used to figure the OID allocable to that period. File state income tax online free In general, the adjusted issue price at the beginning of the debt instrument's first accrual period is its issue price. File state income tax online free The adjusted issue price at the beginning of any subsequent accrual period is the sum of the issue price and all the OID includible in income before that accrual period minus any payment previously made on the debt instrument, other than a payment of qualified stated interest. File state income tax online free Debt instrument. File state income tax online free   The term “debt instrument” means any instrument or contractual arrangement that constitutes indebtedness under general principles of federal income tax law (including, for example, a bond, debenture, note, certificate, or other evidence of indebtedness). File state income tax online free It generally does not include an annuity contract. File state income tax online free Issue price. File state income tax online free   For debt instruments listed in Section I-A and Section I-B, the issue price generally is the initial offering price to the public (excluding bond houses and brokers) at which a substantial amount of these instruments was sold. File state income tax online free Market discount. File state income tax online free   Market discount arises when a debt instrument purchased in the secondary market has decreased in value since its issue date, generally because of an increase in interest rates. File state income tax online free An OID debt instrument has market discount if your adjusted basis in the debt instrument immediately after you acquired it (usually its purchase price) was less than the debt instrument's issue price plus the total OID that accrued before you acquired it. File state income tax online free The market discount is the difference between the issue price plus accrued OID and your adjusted basis. File state income tax online free Premium. File state income tax online free   A debt instrument is purchased at a premium if its adjusted basis immediately after purchase is greater than the total of all amounts payable on the debt instrument after the purchase date, other than qualified stated interest. File state income tax online free The premium is the excess of the adjusted basis over the payable amounts. File state income tax online free See Publication 550 for information on the tax treatment of bond premium. File state income tax online free Qualified stated interest. File state income tax online free   In general, qualified stated interest is stated interest that is unconditionally payable in cash or property (other than debt instruments of the issuer) at least annually over the term of the debt instrument at a single fixed rate. File state income tax online free Stated redemption price at maturity. File state income tax online free   A debt instrument's stated redemption price at maturity is the sum of all amounts (principal and interest) payable on the debt instrument other than qualified stated interest. File state income tax online free Yield to maturity (YTM). File state income tax online free   In general, the YTM is the discount rate that, when used in figuring the present value of all principal and interest payments, produces an amount equal to the issue price of the debt instrument. File state income tax online free The YTM is generally shown on the face of the debt instrument or in the literature you receive from your broker. File state income tax online free If you do not have this information, consult your broker, tax advisor, or the issuer. File state income tax online free Debt Instruments on the OID List The OID list on the IRS website can be used by brokers and other middlemen to prepare information returns. File state income tax online free If you own a listed debt instrument, you generally should not rely on the information in the OID list to determine (or compare) the OID to be reported on your tax return. File state income tax online free The OID amounts listed are figured without reference to the price or date at which you acquired the debt instrument. File state income tax online free For information about determining the OID to be reported on your tax return, see the instructions for figuring OID under Information for Owners of OID Debt Instruments, later. File state income tax online free The following discussions explain what information is contained in each section of the list. File state income tax online free Section I. File state income tax online free   This section contains publicly offered, long-term debt instruments. File state income tax online free Section I-A: Corporate Debt Instruments Issued Before 1985. File state income tax online free Section I-B: Corporate Debt Instruments Issued After 1984. File state income tax online free Section I-C: Inflation-Indexed Debt Instruments. File state income tax online free For each publicly offered debt instrument in Section I, the list contains the following information. File state income tax online free The name of the issuer. File state income tax online free The Committee on Uniform Security Identification Procedures (CUSIP) number. File state income tax online free The issue date. File state income tax online free The maturity date. File state income tax online free The issue price expressed as a percent of principal or of stated redemption price at maturity. File state income tax online free The annual stated or coupon interest rate. File state income tax online free (This rate is shown as 0. File state income tax online free 00 if no annual interest payments are provided. File state income tax online free ) The yield to maturity will be added to Section I-B for bonds issued after December 31, 2006. File state income tax online free The total OID accrued up to January 1 of a calendar year. File state income tax online free (This information is not available for every instrument. File state income tax online free ) For long-term debt instruments issued after July 1, 1982, the daily OID for the accrual periods falling in a calendar year and a subsequent year. File state income tax online free The total OID per $1,000 of principal or maturity value for a calendar year and a subsequent year. File state income tax online free Section II. File state income tax online free   This section contains stripped coupons and principal components of U. File state income tax online free S. File state income tax online free Treasury and Government-Sponsored Enterprise debt instruments. File state income tax online free These stripped components are available through the Department of the Treasury's Separate Trading of Registered Interest and Principal of Securities (STRIPS) program and government-sponsored enterprises such as the Resolution Funding Corporation. File state income tax online free This section also includes debt instruments backed by U. File state income tax online free S. File state income tax online free Treasury securities that represent ownership interests in those securities. File state income tax online free   The obligations listed in Section II are arranged by maturity date. File state income tax online free The amounts listed are the total OID for a calendar year per $1,000 of redemption price. File state income tax online free Section III. File state income tax online free   This section contains short-term discount obligations. File state income tax online free Section III-A: Short-Term U. File state income tax online free S. File state income tax online free Treasury Bills. File state income tax online free Section III-B: Federal Home Loan Banks. File state income tax online free Section III-C: Federal National Mortgage Association. File state income tax online free Section III-D: Federal Farm Credit Banks. File state income tax online free Section III-E: Federal Home Loan Mortgage Corporation. File state income tax online free Section III-F: Federal Agricultural Mortgage Corporation. File state income tax online free    Information that supplements Section III-A is available on the Internet at http://www. File state income tax online free treasurydirect. File state income tax online free gov/tdhome. File state income tax online free htm. File state income tax online free   The short-term obligations listed in this section are arranged by maturity date. File state income tax online free For each obligation, the list contains the CUSIP number, maturity date, issue date, issue price (expressed as a percent of principal), and discount to be reported as interest for a calendar year per $1,000 of redemption price. File state income tax online free Brokers and other middlemen should rely on the issue price information in Section III only if they are unable to determine the price actually paid by the owner. File state income tax online free Debt Instruments Not on the OID List The list of debt instruments discussed earlier does not contain the following items. File state income tax online free U. File state income tax online free S. File state income tax online free savings bonds. File state income tax online free Certificates of deposit and other face-amount certificates issued at a discount, including syndicated certificates of deposit. File state income tax online free Obligations issued by tax-exempt organizations. File state income tax online free OID debt instruments that matured or were entirely called by the issuer before the tables were posted on the IRS website. File state income tax online free Mortgage-backed securities and mortgage participation certificates. File state income tax online free Long-term OID debt instruments issued before May 28, 1969. File state income tax online free Short-term obligations, other than the obligations listed in Section III. File state income tax online free Debt instruments issued at a discount by states or their political subdivisions. File state income tax online free REMIC regular interests and CDOs. File state income tax online free Commercial paper and banker's acceptances issued at a discount. File state income tax online free Obligations issued at a discount by individuals. File state income tax online free Foreign obligations not traded in the United States and obligations not issued in the United States. File state income tax online free Information for Brokers and Other Middlemen The following discussions contain specific instructions for brokers and middlemen who hold or redeem a debt instrument for the owner. File state income tax online free In general, you must file a Form 1099 for the debt instrument if the interest or OID to be included in the owner's income for a calendar year totals $10 or more. File state income tax online free You also must file a Form 1099 if you were required to deduct and withhold tax, even if the interest or OID is less than $10. File state income tax online free See Backup Withholding, later. File state income tax online free If you must file a Form 1099, furnish a copy to the owner of the debt instrument by January 31 in the year it is due. File state income tax online free File all your Forms 1099 with the IRS, accompanied by Form 1096, by February 28 in the year it is due (March 31 if you file electronically). File state income tax online free Electronic payee statements. File state income tax online free   You can issue Form 1099-OID electronically with the consent of the recipient. File state income tax online free More information. File state income tax online free   For more information, including penalties for failure to file (or furnish) required information returns or statements, see the General Instructions for Certain Information Returns (Forms 1098, 1099, 3921, 3922, 5498, and W-2G) for the appropriate calendar year. File state income tax online free Short-Term Obligations Redeemed at Maturity If you redeem a short-term discount obligation for the owner at maturity, you must report the discount as interest on Form 1099-INT. File state income tax online free To figure the discount, use the purchase price shown on the owner's copy of the purchase confirmation receipt or similar record, or the price shown in your transaction records. File state income tax online free If you sell the obligation for the owner before maturity, you must file Form 1099-B to reflect the gross proceeds to the seller. File state income tax online free Do not report the accrued discount to the date of sale on either Form 1099-INT or Form 1099-OID. File state income tax online free If the owner's purchase price cannot be determined, figure the discount as if the owner had purchased the obligation at its original issue price. File state income tax online free A special rule is used to determine the original issue price for information reporting on U. File state income tax online free S. File state income tax online free Treasury bills (T-bills) listed in Section III-A. File state income tax online free Under this rule, you treat as the original issue price of the T-bill the noncompetitive (weighted average of accepted auction bids) discount price for the longest-maturity T-bill maturing on the same date as the T-bill being redeemed. File state income tax online free This noncompetitive discount price is the issue price (expressed as a percent of principal) shown in Section III-A. File state income tax online free A similar rule is used to figure the discount on short-term discount obligations issued by the organizations listed in Section III-B through Section III-F. File state income tax online free Example 1. File state income tax online free There are 13-week and 26-week T-bills maturing on the same date as the T-bill being redeemed. File state income tax online free The price actually paid by the owner cannot be established by owner or middleman records. File state income tax online free You treat as the issue price of the T-bill the noncompetitive discount price (expressed as a percent of principal) shown in Section III-A for a 26-week bill maturing on the same date as the T-bill redeemed. File state income tax online free The interest you report on Form 1099-INT is the OID (per $1,000 of principal) shown in Section III-A for that obligation. File state income tax online free Long-Term Debt Instruments If you hold a long-term OID debt instrument as a nominee for the true owner, you generally must file Form 1099-OID. File state income tax online free For this purpose, you can rely on Section I of the OID list to determine the following information. File state income tax online free Whether a debt instrument has OID. File state income tax online free The OID to be reported on the Form 1099-OID. File state income tax online free In general, you must report OID on publicly offered, long-term debt instruments listed in Section I. File state income tax online free You also can report OID on other long-term debt instruments. File state income tax online free Form 1099-OID. File state income tax online free   On Form 1099-OID for a calendar year show the following information. File state income tax online free Box 1. File state income tax online free The OID for the actual dates the owner held the debt instruments during a calendar year. File state income tax online free To determine this amount, see Figuring OID, next. File state income tax online free Box 2. File state income tax online free The qualified stated interest paid or credited during the calendar year. File state income tax online free Interest reported here is not reported on Form 1099-INT. File state income tax online free The qualified stated interest on Treasury inflation-protected securities may be reported on Form 1099-INT in box 3 instead. File state income tax online free Box 3. File state income tax online free Any interest or principal forfeited because of an early withdrawal that the owner can deduct from gross income. File state income tax online free Do not reduce the amounts in boxes 1 and 2 by the forfeiture. File state income tax online free Box 4. File state income tax online free Any backup withholding for this debt instrument. File state income tax online free Box 7. File state income tax online free The CUSIP number, if any. File state income tax online free If there is no CUSIP number, give a description of the debt instrument, including the abbreviation for the stock exchange, the abbreviation used by the stock exchange for the issuer, the coupon rate, and the year of maturity (for example, NYSE XYZ 12. File state income tax online free 50 2006). File state income tax online free If the issuer of the debt instrument is other than the payer, show the name of the issuer in this box. File state income tax online free Box 8. File state income tax online free The OID on a U. File state income tax online free S. File state income tax online free Treasury obligation for the part of the year the owner held the debt instrument. File state income tax online free Box 9. File state income tax online free Investment expenses passed on to holders of a single-class REMIC. File state income tax online free Boxes 10-12. File state income tax online free Use to report any state income tax withheld for this debt instrument. File state income tax online free Figuring OID. File state income tax online free   You can determine the OID on a long-term debt instrument by using either of the following. File state income tax online free Section I of the OID list. File state income tax online free The income tax regulations. File state income tax online free Using Section I. File state income tax online free   If the owner held the debt instrument for the entire calendar year, report the OID shown in Section I for the calendar year. File state income tax online free Because OID is listed for each $1,000 of stated redemption price at maturity, you must adjust the listed amount to reflect the debt instrument's actual stated redemption price at maturity. File state income tax online free For example, if the debt instrument's stated redemption price at maturity is $500, report one-half the listed OID. File state income tax online free   If the owner held the debt instrument for less than the entire calendar year, figure the OID to report as follows. File state income tax online free Look up the daily OID for the first accrual period in the calendar year during which the owner held the debt instrument. File state income tax online free Multiply the daily OID by the number of days the owner held the debt instrument during that accrual period. File state income tax online free Repeat steps (1) and (2) for any remaining accrual periods for the year during which the owner held the debt instrument. File state income tax online free Add the results in steps (2) and (3) to determine the owner's OID per $1,000 of stated redemption price at maturity. File state income tax online free If necessary, adjust the OID in (4) to reflect the debt instrument's stated redemption price at maturity. File state income tax online free Report the result on Form 1099-OID in box 1. File state income tax online free Using the income tax regulations. File state income tax online free   Instead of using Section I to figure OID, you can use the regulations under sections 1272 through 1275 of the Internal Revenue Code. File state income tax online free For example, under the regulations, you can use monthly accrual periods in figuring OID for a debt instrument issued after April 3, 1994, that provides for monthly payments. File state income tax online free (If you use Section I-B, the OID is figured using 6-month accrual periods. File state income tax online free )   For a general explanation of the rules for figuring OID under the regulations, see Figuring OID on Long-Term Debt Instruments under Information for Owners of OID Debt Instruments, later. File state income tax online free Certificates of Deposit If you hold a bank certificate of deposit (CD) as a nominee, you must determine whether the CD has OID and any OID includible in the income of the owner. File state income tax online free You must file an information return showing the reportable interest and OID, if any, on the CD. File state income tax online free These rules apply whether or not you sold the CD to the owner. File state income tax online free Report OID on a CD in the same way as OID on other debt instruments. File state income tax online free See Short-Term Obligations Redeemed at Maturity and Long-Term Debt Instruments, earlier. File state income tax online free Bearer Bonds and Coupons If a coupon from a bearer bond is presented to you for collection before the bond matures, you generally must report the interest on Form 1099-INT. File state income tax online free However, do not report the interest if either of the following apply. File state income tax online free You hold the bond as a nominee for the true owner. File state income tax online free The payee is a foreign person. File state income tax online free See Payments to foreign person under Backup Withholding, later. File state income tax online free Because you cannot assume the presenter of the coupon also owns the bond, you should not report OID on the bond on Form 1099-OID. File state income tax online free The coupon may have been “stripped” (separated) from the bond and separately purchased. File state income tax online free However, if a long-term bearer bond on the OID list is presented to you for redemption upon call or maturity, you should prepare a Form 1099-OID showing the OID for that calendar year, as well as any coupon interest payments collected at the time of redemption. File state income tax online free Backup Withholding If you report OID on Form 1099-OID or interest on Form 1099-INT for a calendar year, you may be required to apply backup withholding to the reportable payment at a rate of 28%. File state income tax online free The backup withholding is deducted at the time a cash payment is made. File state income tax online free See Pub. File state income tax online free 1281, Backup Withholding for Missing and Incorrect Name/TIN(s), for more information. File state income tax online free Backup withholding generally applies in the following situations. File state income tax online free The payee does not give you a taxpayer identification number (TIN). File state income tax online free The IRS notifies you that the payee gave an incorrect TIN. File state income tax online free The IRS notifies you that the payee is subject to backup withholding due to payee underreporting. File state income tax online free For debt instruments acquired after 1983: The payee does not certify, under penalties of perjury, that he or she is not subject to backup withholding under (3), or The payee does not certify, under penalties of perjury, that the TIN given is correct. File state income tax online free However, for short-term discount obligations (other than government obligations), bearer bonds and coupons, and U. File state income tax online free S. File state income tax online free savings bonds, backup withholding applies only if the payee does not give you a TIN or gives you an obviously incorrect number for a TIN. File state income tax online free Short-term obligations. File state income tax online free   Backup withholding applies to OID on a short-term obligation only when the OID is paid at maturity. File state income tax online free However, backup withholding applies to any interest payable before maturity when the interest is paid or credited. File state income tax online free   If the owner of a short-term obligation at maturity is not the original owner and can establish the purchase price of the obligation, the amount subject to backup withholding must be determined by treating the purchase price as the issue price. File state income tax online free However, you can choose to disregard that price if it would require significant manual intervention in the computer or recordkeeping system used for the obligation. File state income tax online free If the purchase price of a listed obligation is not established or is disregarded, you must use the issue price shown in Section III. File state income tax online free Long-term obligations. File state income tax online free   If no cash payments are made on a long-term obligation before maturity, backup withholding applies only at maturity. File state income tax online free The amount subject to backup withholding is the OID includible in the owner's gross income for the calendar year when the obligation matures. File state income tax online free The amount to be withheld is limited to the cash paid. File state income tax online free Registered long-term obligations with cash payments. File state income tax online free   If a registered long-term obligation has cash payments before maturity, backup withholding applies when a cash payment is made. File state income tax online free The amount subject to backup withholding is the total of the qualified stated interest (defined earlier under Definitions) and OID includible in the owner's gross income for the calendar year when the payment is made. File state income tax online free If more than one cash payment is made during the year, the OID subject to withholding for the year must be allocated among the expected cash payments in the ratio that each bears to the total of the expected cash payments. File state income tax online free For any payment, the required withholding is limited to the cash paid. File state income tax online free Payee not the original owner. File state income tax online free   If the payee is not the original owner of the obligation, the OID subject to backup withholding is the OID includible in the gross income of all owners during the calendar year (without regard to any amount paid by the new owner at the time of transfer). File state income tax online free The amount subject to backup withholding at maturity of a listed obligation must be determined using the issue price shown in Section I. File state income tax online free Bearer long-term obligations with cash payments. File state income tax online free   If a bearer long-term obligation has cash payments before maturity, backup withholding applies when the cash payments are made. File state income tax online free For payments before maturity, the amount subject to withholding is the qualified stated interest (defined earlier under Definitions) includible in the owner's gross income for the calendar year. File state income tax online free For a payment at maturity, the amount subject to withholding is only the total of any qualified stated interest paid at maturity and the OID includible in the owner's gross income for the calendar year when the obligation matures. File state income tax online free The required withholding at maturity is limited to the cash paid. File state income tax online free Sales and redemptions. File state income tax online free   If you report the gross proceeds from a sale, exchange, or redemption of a debt instrument on Form 1099-B for a calendar year, you may be required to withhold 28% of the amount reported. File state income tax online free Backup withholding applies in the following situations. File state income tax online free The payee does not give you a TIN. File state income tax online free The IRS notifies you that the payee gave an incorrect TIN. File state income tax online free For debt instruments held in an account opened after 1983, the payee does not certify, under penalties of perjury, that the TIN given is correct. File state income tax online free Payments outside the United States to U. File state income tax online free S. File state income tax online free person. File state income tax online free   The requirements for backup withholding and information reporting apply to payments of OID and interest made outside the United States to a U. File state income tax online free S. File state income tax online free person, a controlled foreign corporation, or a foreign person at least 50% of whose income for the preceding 3-year period is effectively connected with the conduct of a U. File state income tax online free S. File state income tax online free trade or business. File state income tax online free Payments to foreign person. File state income tax online free   The following discussions explain the rules for backup withholding and information reporting on payments to foreign persons. File state income tax online free U. File state income tax online free S. File state income tax online free -source amount. File state income tax online free   Backup withholding and information reporting are not required for payments of U. File state income tax online free S. File state income tax online free -source OID, interest, or proceeds from a sale or redemption of an OID instrument if the payee has given you proof (generally the appropriate Form W-8 or an acceptable substitute) that the payee is a foreign person. File state income tax online free A U. File state income tax online free S. File state income tax online free resident is not a foreign person. File state income tax online free For proof of the payee's foreign status, you can rely on the appropriate Form W-8 or on documentary evidence for payments made outside the United States to an offshore account or, in case of broker proceeds, a sale effected outside the United States. File state income tax online free Receipt of the appropriate Form W-8 does not relieve you from information reporting and backup withholding if you actually know the payee is a U. File state income tax online free S. File state income tax online free person. File state income tax online free   For information about the 28% withholding tax that may apply to payments of U. File state income tax online free S. File state income tax online free -source OID or interest to foreign persons, see Publication 515. File state income tax online free Foreign-source amount. File state income tax online free   Backup withholding and information reporting are not required for payments of foreign-source OID and interest made outside the United States. File state income tax online free However, if the payments are made inside the United States, the requirements for backup withholding and information reporting will apply unless the payee has given you the appropriate Form W-8 or acceptable substitute as proof that the payee is a foreign person. File state income tax online free More information. File state income tax online free   For more information about backup withholding and information reporting on foreign-source amounts or payments to foreign persons, see Regulations section 1. File state income tax online free 6049-5. File state income tax online free Information for Owners of OID Debt Instruments This section is for persons who prepare their own tax returns. File state income tax online free It discusses the income tax rules for figuring and reporting OID on long-term debt instruments. File state income tax online free It also includes a similar discussion for stripped bonds and coupons, such as zero coupon bonds available through the Department of the Treasury's STRIPS program and government-sponsored enterprises such as the Resolution Funding Corporation. File state income tax online free However, the information provided does not cover every situation. File state income tax online free More information can be found in the regulations under sections 1271 through 1275 of the Internal Revenue Code. File state income tax online free Including OID in income. File state income tax online free   Generally, you include OID in income as it accrues each year, whether or not you receive any payments from the debt instrument issuer. File state income tax online free Exceptions. File state income tax online free   The rules for including OID in income as it accrues generally do not apply to the following debt instruments. File state income tax online free U. File state income tax online free S. File state income tax online free savings bonds. File state income tax online free Tax-exempt obligations. File state income tax online free (However, see Tax-Exempt Bonds and Coupons, later. File state income tax online free ) Obligations issued by individuals before March 2, 1984. File state income tax online free Loans of $10,000 or less between individuals who are not in the business of lending money. File state income tax online free (The dollar limit includes outstanding prior loans by the lender to the borrower. File state income tax online free ) This exception does not apply if a principal purpose of the loan is to avoid any federal tax. File state income tax online free   See chapter 1 of Publication 550 for information about the rules for these and other types of discounted debt instruments, such as short-term and market discount obligations. File state income tax online free Publication 550 also discusses rules for holders of REMIC interests and CDOs. File state income tax online free De minimis rule. File state income tax online free   You can treat OID as zero if the total OID on a debt instrument is less than one-fourth of 1% (. File state income tax online free 0025) of the stated redemption price at maturity multiplied by the number of full years from the date of original issue to maturity. File state income tax online free Debt instruments with de minimis OID are not listed in this publication. File state income tax online free There are special rules to determine the de minimis amount in the case of debt instruments that provide for more than one payment of principal. File state income tax online free Also, the de minimis rules generally do not apply to tax-exempt obligations. File state income tax online free Example 2. File state income tax online free You bought at issuance a 10-year debt instrument with a stated redemption price at maturity of $1,000, issued at $980 with OID of $20. File state income tax online free One-fourth of 1% of $1,000 (the stated redemption price) times 10 (the number of full years from the date of original issue to maturity) equals $25. File state income tax online free Under the de minimis rule, you can treat the OID as zero because the $20 discount is less than $25. File state income tax online free Example 3. File state income tax online free Assume the same facts as Example 2, except the debt instrument was issued at $950. File state income tax online free You must report part of the $50 OID each year because it is more than $25. File state income tax online free Choice to report all interest as OID. File state income tax online free   Generally, you can choose to treat all interest on a debt instrument acquired after April 3, 1994, as OID and include it in gross income by using the constant yield method. File state income tax online free See Constant yield method under Debt Instruments Issued After 1984, later, for more information. File state income tax online free   For this choice, interest includes stated interest, acquisition discount, OID, de minimis OID, market discount, de minimis market discount, and unstated interest, as adjusted by any amortizable bond premium or acquisition premium. File state income tax online free For more information, see Regulations section 1. File state income tax online free 1272-3. File state income tax online free Purchase after date of original issue. File state income tax online free   A debt instrument you purchased after the date of original issue may have premium, acquisition premium, or market discount. File state income tax online free If so, the OID reported to you on Form 1099-OID may have to be adjusted. File state income tax online free For more information, see Showing an OID adjustment under How To Report OID, later. File state income tax online free The following rules generally do not apply to contingent payment debt instruments. File state income tax online free Adjustment for premium. File state income tax online free   If your debt instrument (other than an inflation-indexed debt instrument) has premium, do not report any OID as ordinary income. File state income tax online free Your adjustment is the total OID shown on your Form 1099-OID. File state income tax online free Adjustment for acquisition premium. File state income tax online free   If your debt instrument has acquisition premium, reduce the OID you report. File state income tax online free Your adjustment is the difference between the OID shown on your Form 1099-OID and the reduced OID amount figured using the rules explained later under Figuring OID on Long-Term Debt Instruments. File state income tax online free Adjustment for market discount. File state income tax online free   If your debt instrument has market discount that you choose to include in income currently, increase the OID you report. File state income tax online free Your adjustment is the accrued market discount for the year. File state income tax online free See Market Discount Bonds in chapter 1 of Publication 550 for information on how to figure accrued market discount and include it in your income currently and for other information about market discount bonds. File state income tax online free If you choose to use the constant yield method to figure accrued market discount, also see Figuring OID on Long-Term Debt Instruments, later. File state income tax online free The constant yield method of figuring accrued OID, explained in those discussions under Constant yield method, is also used to figure accrued market discount. File state income tax online free For more information concerning premium or market discount on an inflation-indexed debt instrument, see Regulations section 1. File state income tax online free 1275-7. File state income tax online free Sale, exchange, or redemption. File state income tax online free   Generally, you treat your gain or loss from the sale, exchange, or redemption of a discounted debt instrument as a capital gain or loss if you held the debt instrument as a capital asset. File state income tax online free If you sold the debt instrument through a broker, you should receive Form 1099-B or an equivalent statement from the broker. File state income tax online free Use the Form 1099-B or other statement and your brokerage statements to complete Form 8949, and Schedule D (Form 1040). File state income tax online free   Your gain or loss is the difference between the amount you realized on the sale, exchange, or redemption and your basis in the debt instrument. File state income tax online free Your basis, generally, is your cost increased by the OID you have included in income each year you held it. File state income tax online free In general, to determine your gain or loss on a tax-exempt bond, figure your basis in the bond by adding to your cost the OID you would have included in income if the bond had been taxable. File state income tax online free   See chapter 4 of Publication 550 for more information about the tax treatment of the sale or redemption of discounted debt instruments. File state income tax online free Example 4. File state income tax online free Larry, a calendar year taxpayer, bought a corporate debt instrument at original issue for $86,235. File state income tax online free 00 on November 1 of Year 1. File state income tax online free The 15-year debt instrument matures on October 31 of Year 16 at a stated redemption price of $100,000. File state income tax online free The debt instrument provides for semiannual payments of interest at 10%. File state income tax online free Assume the debt instrument is a capital asset in Larry's hands. File state income tax online free The debt instrument has $13,765. File state income tax online free 00 of OID ($100,000 stated redemption price at maturity minus $86,235. File state income tax online free 00 issue price). File state income tax online free Larry sold the debt instrument for $90,000 on November 1 of Year 4. File state income tax online free Including the OID he will report for the period he held the debt instrument in Year 4, Larry has included $4,556. File state income tax online free 00 of OID in income and has increased his basis by that amount to $90,791. File state income tax online free 00. File state income tax online free Larry has realized a loss of $791. File state income tax online free 00. File state income tax online free All of Larry's loss is capital loss. File state income tax online free Form 1099-OID The issuer of the debt instrument (or your broker, if you purchased or held the debt instrument through a broker) should give you a copy of Form 1099-OID or a similar statement if the accrued OID for the calendar year is $10 or more and the term of the debt instrument is more than 1 year. File state income tax online free Form 1099-OID shows all OID income in box 1 except OID on a U. File state income tax online free S. File state income tax online free Treasury obligation, which is shown in box 8. File state income tax online free It also shows, in box 2, any qualified stated interest you must include in income. File state income tax online free (However, any qualified stated interest on Treasury inflation-protected securities can be reported on Form 1099-INT in box 3. File state income tax online free ) A copy of Form 1099-OID will be sent to the IRS. File state income tax online free Do not attach your copy to your tax return. File state income tax online free Keep it for your records. File state income tax online free If you are required to file a tax return and you receive Form 1099-OID showing taxable amounts, you must report these amounts on your return. File state income tax online free A 20% accuracy-related penalty may be charged for underpayment of tax due to either negligence or disregard of rules and regulations or substantial understatement of tax. File state income tax online free Form 1099-OID not received. File state income tax online free   If you held an OID debt instrument for a calendar year but did not receive a Form 1099-OID, refer to the discussions under Figuring OID on Long-Term Debt Instruments, later, for information on the OID you must report. File state income tax online free Refiguring OID. File state income tax online free   You must refigure the OID shown on Form 1099-OID, in box 1 or box 8, to determine the proper amount to include in income if one of the following applies. File state income tax online free You bought the debt instrument at a premium or at an acquisition premium. File state income tax online free The debt instrument is a stripped bond or coupon (including zero coupon bonds backed by U. File state income tax online free S. File state income tax online free Treasury securities). File state income tax online free The debt instrument is a contingent payment or inflation-indexed debt instrument. File state income tax online free See the discussions under Figuring OID on Long-Term Debt Instruments or Figuring OID on Stripped Bonds and Coupons, later, for the specific computations. File state income tax online free Refiguring interest. File state income tax online free   If you disposed of a debt instrument or acquired it from another holder between interest dates, see the discussion under Bonds Sold Between Interest Dates in chapter 1 of Publication 550 for information about refiguring the interest shown on Form 1099-OID in box 2. File state income tax online free Nominee. File state income tax online free   If you are the holder of an OID debt instrument and you receive a Form 1099-OID that shows your taxpayer identification number and includes amounts belonging to another person, you are considered a “nominee. File state income tax online free ” You must file another Form 1099-OID for each actual owner, showing the OID for the owner. File state income tax online free Show the owner of the debt instrument as the “recipient” and you as the “payer. File state income tax online free ”   Complete Form 1099-OID and Form 1096 and file the forms with the Internal Revenue Service Center for your area. File state income tax online free You must also give a copy of the Form 1099-OID to the actual owner. File state income tax online free However, you are not required to file a nominee return to show amounts belonging to your spouse. File state income tax online free See the Form 1099 instructions for more information. File state income tax online free   When preparing your tax return, follow the instructions under Showing an OID adjustment in the next discussion. File state income tax online free How To Report OID Generally, you report your taxable interest and OID income on the interest line of Form 1040EZ, Form 1040A, or Form 1040. File state income tax online free Form 1040 or Form 1040A required. File state income tax online free   You must use Form 1040 or Form 1040A (you cannot use Form 1040EZ) under either of the following conditions. File state income tax online free You received a Form 1099-OID as a nominee for the actual owner. File state income tax online free Your total interest and OID income for the year was more than $1,500. File state income tax online free Form 1040 required. File state income tax online free   You must use Form 1040 (you cannot use Form 1040A or Form 1040EZ) if you are reporting more or less OID than the amount shown on Form 1099-OID, other than because you are a nominee. File state income tax online free For example, if you paid a premium or an acquisition premium when you purchased the debt instrument, you must use Form 1040 because you will report less OID than shown on Form 1099-OID. File state income tax online free Also, you must use Form 1040 if you were charged an early withdrawal penalty. File state income tax online free Where to report. File state income tax online free   List each payer's name (if a brokerage firm gave you a Form 1099, list the brokerage firm as the payer) and the amount received from each payer on Form 1040A, Schedule B, Part I, line 1, or Form 1040, Schedule B, line 1. File state income tax online free Include all OID and periodic interest shown on any Form 1099-OID, boxes 1, 2, and 8, you received for the tax year. File state income tax online free Also include any other OID and interest income for which you did not receive a Form 1099. File state income tax online free Showing an OID adjustment. File state income tax online free   If you use Form 1040 to report more or less OID than shown on Form 1099-OID, list the full OID on Schedule B, Part I, line 1, and follow the instructions under 1 or 2, next. File state income tax online free   If you use Form 1040A to report the OID shown on a Form 1099-OID you received as a nominee for the actual owner, list the full OID on Schedule B, Part I, line 1 and follow the instructions under 1. File state income tax online free If the OID, as adjusted, is less than the amount shown on Form 1099-OID, show the adjustment as follows. File state income tax online free Under your last entry on line 1, subtotal all interest and OID income listed on line 1. File state income tax online free Below the subtotal, write “Nominee Distribution” or “OID Adjustment” and show the OID you are not required to report. File state income tax online free Subtract that OID from the subtotal and enter the result on line 2. File state income tax online free If the OID, as adjusted, is more than the amount shown on Form 1099-OID, show the adjustment as follows. File state income tax online free Under your last entry on line 1, subtotal all interest and OID income listed on line 1. File state income tax online free Below the subtotal, write “OID Adjustment” and show the additional OID. File state income tax online free Add that OID to the subtotal and enter the result on line 2. File state income tax online free Figuring OID on Long-Term Debt Instruments How you figure the OID on a long-term debt instrument depends on the date it was issued. File state income tax online free It also may depend on the type of the debt instrument. File state income tax online free There are different rules for each of the following debt instruments. File state income tax online free Corporate debt instruments issued after 1954 and before May 28, 1969, and government debt instruments issued after 1954 and before July 2, 1982. File state income tax online free Corporate debt instruments issued after May 27, 1969, and before July 2, 1982. File state income tax online free Debt instruments issued after July 1, 1982, and before 1985. File state income tax online free Debt instruments issued after 1984 (other than debt instruments described in (5) and (6)). File state income tax online free Contingent payment debt instruments issued after August 12, 1996. File state income tax online free Inflation-indexed debt instruments (including Treasury inflation-protected securities) issued after January 5, 1997. File state income tax online free Zero coupon bonds. File state income tax online free   The rules for figuring OID on zero coupon bonds backed by U. File state income tax online free S. File state income tax online free Treasury securities are discussed under Figuring OID on Stripped Bonds and Coupons, later. File state income tax online free Corporate Debt Instruments Issued After 1954 and Before May 28, 1969, and Government Debt Instruments Issued After 1954 and Before July 2, 1982 If you hold these debt instruments as capital assets, you include OID in income only in the year the debt instrument is sold, exchanged, or redeemed, and only if you have a gain. File state income tax online free The OID, which is taxed as ordinary income, generally equals the following amount. File state income tax online free   number of full months you held the debt instrument  number of full months from date of original issue to date of maturity X original issue discount The balance of the gain is capital gain. File state income tax online free If there is a loss on the sale of the debt instrument, the entire loss is a capital loss and no OID is reported. File state income tax online free Corporate Debt Instruments Issued After May 27, 1969, and Before July 2, 1982 If you hold these debt instruments as capital assets, you must include part of the OID in income each year you own the debt instruments. File state income tax online free For information about showing the correct OID on your tax return, see the discussion under How To Report OID, earlier. File state income tax online free Your basis in the debt instrument is increased by the OID you include in income. File state income tax online free Form 1099-OID. File state income tax online free   You should receive a Form 1099-OID showing OID for the part of the year you held the debt instrument. File state income tax online free However, if you paid an acquisition premium, you may need to refigure the OID to report on your tax return. File state income tax online free See Reduction for acquisition premium, later. File state income tax online free If you held an OID debt instrument in a calendar year but did not receive a Form 1099-OID, see Form 1099-OID not received, immediately below, and refer to Section I-A available at www. File state income tax online free irs. File state income tax online free gov/pub1212 by clicking the link under Recent Developments. File state income tax online free Form 1099-OID not received. File state income tax online free    The OID listed is for each $1,000 of redemption price. File state income tax online free You must adjust the listed amount if your debt instrument has a different principal amount. File state income tax online free For example, if you have a debt instrument with a $500 principal amount, use one-half the listed amount to figure your OID. File state income tax online free   If you held the debt instrument the entire year, use the OID shown in Section I-A for a calendar year. File state income tax online free (If your debt instrument is not listed in Section I-A, consult the issuer for information about the issue price and the OID that accrued for that year. File state income tax online free ) If you did not hold the debt instrument the entire year, figure your OID using the following method. File state income tax online free Divide the OID shown by 12. File state income tax online free Multiply the result in (1) by the number of complete and partial months (for example, 6½ months) you held the debt instrument during a calendar year. File state income tax online free This is the OID to include in income unless you paid an acquisition premium. File state income tax online free The reduction for acquisition premium is discussed next. File state income tax online free Reduction for acquisition premium. File state income tax online free   If you bought the debt instrument at an acquisition premium, figure the OID to include in income as follows. File state income tax online free Divide the total OID on the debt instrument by the number of complete months, and any part of a month, from the date of original issue to the maturity date. File state income tax online free This is the monthly OID. File state income tax online free Subtract from your cost the issue price and the accumulated OID from the date of issue to the date of purchase. File state income tax online free (If the result is zero or less, stop here. File state income tax online free You did not pay an acquisition premium. File state income tax online free ) Divide the amount figured in (2) by the number of complete months, and any part of a month, from the date of your purchase to the maturity date. File state income tax online free Subtract the amount figured in (3) from the amount figured in (1). File state income tax online free This is the OID to include in income for each month you hold the debt instrument during the year. File state income tax online free Transfers during the month. File state income tax online free   If you buy or sell a debt instrument on any day other than the same day of the month as the date of original issue, the ratable monthly portion of OID for the month of sale is divided between the seller and the buyer according to the number of days each held the debt instrument. File state income tax online free Your holding period for this purpose begins the day you acquire the debt instrument and ends the day before you dispose of it. File state income tax online free Debt Instruments Issued After July 1, 1982, and Before 1985 If you hold these debt instruments as capital assets, you must include part of the OID in income each year you own the debt instruments and increase your basis by the amount included. File state income tax online free For information about showing the correct OID on your tax return, see How To Report OID, earlier. File state income tax online free Form 1099-OID. File state income tax online free   You should receive a Form 1099-OID showing OID for the part of the year you held the debt instrument. File state income tax online free However, if you paid an acquisition premium, you may need to refigure the OID to report on your tax return. File state income tax online free See Constant yield method and the discussions on acquisition premium that follow, later. File state income tax online free If you held an OID debt instrument in a calendar year but did not receive a Form 1099-OID, see Form 1099-OID not received, immediately below, and refer to Section I-A available at www. File state income tax online free irs. File state income tax online free gov/pub1212 by clicking the link under Recent Developments. File state income tax online free Form 1099-OID not received. File state income tax online free    The OID listed is for each $1,000 of redemption price. File state income tax online free You must adjust the listed amount if your debt instrument has a different principal amount. File state income tax online free For example, if you have a debt instrument with a $500 principal amount, use one-half the listed amount to figure your OID. File state income tax online free   If you held the debt instrument the entire year, use the OID shown in Section I-A. File state income tax online free (If your instrument is not listed in Section I-A, consult the issuer for information about the issue price, the yield to maturity, and the OID that accrued for that year. File state income tax online free ) If you did not hold the debt instrument the entire year, figure your OID using either of the following methods. File state income tax online free Method 1. File state income tax online free    Divide the total OID for a calendar year by 365 (366 for leap years). File state income tax online free Multiply the result in (1) by the number of days you held the debt instrument during that particular year. File state income tax online free  This computation is an approximation and may result in a slightly higher OID than Method 2. File state income tax online free Method 2. File state income tax online free    Look up the daily OID for the first accrual period you held the debt instrument during a calendar year. File state income tax online free (See Accrual period under Constant yield method, next. File state income tax online free ) Multiply the daily OID by the number of days you held the debt instrument during that accrual period. File state income tax online free If you held the debt instrument for part of both accrual periods, repeat (1) and (2) for the second accrual period. File state income tax online free Add the results of (2) and (3). File state income tax online free This is the OID to include in income, unless you paid an acquisition premium. File state income tax online free (The reduction for acquisition premium is discussed later. File state income tax online free ) Constant yield method. File state income tax online free   This discussion shows how to figure OID on debt instruments issued after July 1, 1982, and before 1985, using a constant yield method. File state income tax online free OID is allocated over the life of the debt instrument through adjustments to the issue price for each accrual period. File state income tax online free   Figure the OID allocable to any accrual period as follows. File state income tax online free Multiply the adjusted issue price at the beginning of the accrual period by the debt instrument's yield to maturity. File state income tax online free Subtract from the result in (1) any qualified stated interest allocable to the accrual period. File state income tax online free Accrual period. File state income tax online free   An accrual period for any OID debt instrument issued after July 1, 1982, and before 1985 is each 1-year period beginning on the date of the issue of the obligation and each anniversary thereafter, or the shorter period to maturity for the last accrual period. File state income tax online free Your tax year will usually include parts of two accrual periods. File state income tax online free Daily OID. File state income tax online free   The OID for any accrual period is allocated equally to each day in the accrual period. File state income tax online free You must include in income the sum of the OID amounts for each day you hold the debt instrument during the year. File state income tax online free If your tax year includes parts of two or more accrual periods, you must include the proper daily OID amounts for each accrual period. File state income tax online free Figuring daily OID. File state income tax online free   The daily OID for the initial accrual period is figured using the following formula. File state income tax online free   (ip × ytm) − qsi     p   ip = issue price ytm = yield to maturity qsi = qualified stated interest p = number of days in accrual period         The daily OID for subsequent accrual periods is figured the same way except the adjusted issue price at the beginning of each period is used in the formula instead of the issue price. File state income tax online free Reduction for acquisition premium on debt instruments purchased before July 19, 1984. File state income tax online free   If you bought the debt instrument at an acquisition premium before July 19, 1984, figure the OID includible in income by reducing the daily OID by the daily acquisition premium. File state income tax online free Figure the daily acquisition premium by dividing the total acquisition premium by the number of days in the period beginning on your purchase date and ending on the day before the date of maturity. File state income tax online free Reduction for acquisition premium on debt instruments purchased after July 18, 1984. File state income tax online free   If you bought the debt instrument at an acquisition premium after July 18, 1984, figure the OID includible in income by reducing the daily OID by the daily acquisition premium. File state income tax online free However, the method of figuring the daily acquisition premium is different from the method described in the preceding discussion. File state income tax online free To figure the daily acquisition premium under this method, multiply the daily OID by the following fraction. File state income tax online free The numerator is the acquisition premium. File state income tax online free The denominator is the total OID remaining for the debt instrument after your purchase date. File state income tax online free Section I-A is available at www. File state income tax online free irs. File state income tax online free gov/pub1212 and clicking the link under Recent Developments. File state income tax online free Using Section I-A to figure accumulated OID. File state income tax online free   If you bought your corporate debt instrument in a calendar year or the subsequent year, you can figure the accumulated OID to the date of purchase by adding the following amounts. File state income tax online free The amount from the “Total OID to January 1, YYYY” column for your debt instrument. File state income tax online free The OID from January 1 of a calendar year to the date of purchase, figured as follows. File state income tax online free Multiply the daily OID for the first accrual period in the calendar year by the number of days from January 1 to the date of purchase, or the end of the accrual period if the debt instrument was purchased in the second or third accrual period. File state income tax online free Multiply the daily OID for each subsequent accrual period by the number of days in the period to the date of purchase or the end of the accrual period, whichever applies. File state income tax online free Add the amounts figured in (2a) and (2b). File state income tax online free Debt Instruments Issued After 1984 If you hold debt instruments issued after 1984, you must report part of the OID in gross income each year that you own the debt instruments. File state income tax online free You must include the OID in gross income whether or not you hold the debt instrument as a capital asset. File state income tax online free Your basis in the debt instrument is increased by the OID you include in income. File state income tax online free For information about showing the correct OID on your tax return, see How To Report OID, earlier. File state income tax online free Form 1099-OID. File state income tax online free   You should receive a Form 1099-OID showing OID for the part of a calendar year you held the debt instrument. File state income tax online free However, if you paid an acquisition premium, you may need to refigure the OID to report on your tax return. File state income tax online free See Constant yield method and Reduction for acquisition premium, later. File state income tax online free   You may also need to refigure the OID for a contingent payment or inflation-indexed debt instrument on which the amount reported on Form 1099-OID is inaccurate. File state income tax online free See Contingent Payment Debt Instruments or Inflation-Indexed Debt Instruments, later. File state income tax online free If you held an OID debt instrument in a calendar year but did not receive a Form 1099-OID, see Form 1099-OID not received, immediately below, and refer to Section I-B available at www. File state income tax online free irs. File state income tax online free gov/pub1212 by clicking the link under Recent Developments. File state income tax online free Form 1099-OID not received. File state income tax online free   The OID listed is for each $1,000 of redemption price. File state income tax online free You must adjust the listed amount if your debt instrument has a different principal amount. File state income tax online free For example, if you have a debt instrument with a $500 principal amount, use one-half the listed amount to figure your OID. File state income tax online free   Use the OID shown in Section I-B for a calendar year if you held the debt instrument the entire year. File state income tax online free (If your debt instrument is not listed in Section I-B, consult the issuer for information about the issue price, the yield to maturity, and the OID that accrued for that year. File state income tax online free ) If you did not hold the debt instrument the entire year, figure your OID as follows. File state income tax online free Look up the daily OID for the first accrual period in which you held the debt instrument during a calendar year. File state income tax online free (See Accrual period under Constant yield method, later. File state income tax online free ) Multiply the daily OID by the number of days you held the debt instrument during that accrual period. File state income tax online free Repeat (1) and (2) for any remaining accrual periods in which you held the debt instrument. File state income tax online free Add the results of (2) and (3). File state income tax online free This is the OID to include in income for that year, unless you paid an acquisition premium. File state income tax online free (The reduction for acquisition premium is discussed later. File state income tax online free ) Tax-exempt bond. File state income tax online free   If you own a tax-exempt bond, figure your basis in the bond by adding to your cost the OID you would have included in income if the bond had been taxable. File state income tax online free You need to make this adjustment to determine if you have a gain or loss on a later disposition of the bond. File state income tax online free In general, use the rules that follow to determine your OID. File state income tax online free Constant yield method. File state income tax online free   This discussion shows how to figure OID on debt instruments issued after 1984 using a constant yield method. File state income tax online free (The special rules that apply to contingent payment debt instruments and inflation-indexed debt instruments are explained later. File state income tax online free ) OID is allocated over the life of the debt instrument through adjustments to the issue price for each accrual period. File state income tax online free   Figure the OID allocable to any accrual period as follows. File state income tax online free Multiply the adjusted issue price at the beginning of the accrual period by a fraction. File state income tax online free The numerator of the fraction is the debt instrument's yield to maturity and the denominator is the number of accrual periods per year. File state income tax online free The yield must be stated appropriately taking into account the length of the particular accrual period. File state income tax online free Subtract from the result in (1) any qualified stated interest allocable to the accrual period. File state income tax online free Accrual period. File state income tax online free   For debt instruments issued after 1984 and before April 4, 1994, an accrual period is each 6-month period that ends on the day that corresponds to the stated maturity date of the debt instrument or the date 6 months before that date. File state income tax online free For example, a debt instrument maturing on March 31 has accrual periods that end on September 30 and March 31 of each calendar year. File state income tax online free Any short period is included as the first accrual period. File state income tax online free   For debt instruments issued after April 3, 1994, accrual periods may be of any length and may vary in length over the term of the debt instrument, as long as each accrual period is no longer than 1 year and all payments are made on the first or last day of an accrual period. File state income tax online free However, the OID listed for these debt instruments in Section I-B has been figured using 6-month accrual periods. File state income tax online free Daily OID. File state income tax online free   The OID for any accrual period is allocated equally to each day in the accrual period. File state income tax online free Figure the amount to include in income by adding the OID for each day you hold the debt instrument during the year. File state income tax online free Since your tax year will usually include parts of two or more accrual periods, you must include the proper daily OID for each accrual period. File state income tax online free If your debt instrument has 6-month accrual periods, your tax year will usually include one full 6-month accrual period and parts of two other 6-month periods. File state income tax online free Figuring daily OID. File state income tax online free   The daily OID for the initial accrual period is figured using the following formula. File state income tax online free   (ip × ytm/n) − qsi     p   ip = issue price ytm = yield to maturity n = number of accrual periods in 1 year qsi = qualified stated interest p = number of days in accrual period       The daily OID for subsequent accrual periods is figured the same way except the adjusted issue price at the beginning of each period is used in the formula instead of the issue price. File state income tax online free Example 5. File state income tax online free On January 1 of Year 1, you bought a 15-year, 10% debt instrument of A Corporation at original issue for $86,235. File state income tax online free 17. File state income tax online free According to the prospectus, the debt instrument matures on December 31 of Year 15 at a stated redemption price of $100,000. File state income tax online free The yield to maturity is 12%, compounded semiannually. File state income tax online free The debt instrument provides for qualified stated interest payments of $5,000 on June 30 and December 31 of each calendar year. File state income tax online free The accrual periods are the 6-month periods ending on each of these dates. File state income tax online free The number of days for the first accrual period (January 1 through June 30) is 181 days (182 for leap years). File state income tax online free The daily OID for the first accrual period is figured as follows. File state income tax online free   ($86,235. File state income tax online free 17 x . File state income tax online free 12/2) – $5,000     181 days     = $174. File state income tax online free 11020 = $. File state income tax online free 96193   181           The adjusted issue price at the beginning of the second accrual period is the issue price plus the OID previously includible in income ($86,235. File state income tax online free 17 + $174. File state income tax online free 11), or $86,409. File state income tax online free 28. File state income tax online free The number of days for the second accrual period (July 1 through December 31) is 184 days. File state income tax online free The daily OID for the second accrual period is figured as follows. File state income tax online free   ($86,409. File state income tax online free 28 x . File state income tax online free 12/2) – $5,000     184 days     = $184. File state income tax online free 55681 = $1. File state income tax online free 00303   184 Since the first and second accrual periods coincide exactly with your tax year, you include in income for Year 1 the OID allocable to the first two accrual periods, $174. File state income tax online free 11 ($. File state income tax online free 95665 × 182 days) plus $184. File state income tax online free 56 ($1. File state income tax online free 00303 × 184 days), or $358. File state income tax online free 67. File state income tax online free Add the OID to the $10,000 interest you report on your income tax return for Year 1. File state income tax online free Example 6. File state income tax online free Assume the same facts as in Example 5, except that you bought the debt instrument at original issue on May 1 of Year 1, with a maturity date of April 30, Year 16. File state income tax online free Also, the interest payment dates are October 31 and April 30 of each calendar year. File state income tax online free The accrual periods are the 6-month periods ending on each of these dates. File state income tax online free The number of days for the first accrual period (May 1 through October 31) is 184 days. File state income tax online free The daily OID for the first accrual period is figured as follows. File state income tax online free   ($86,235. File state income tax online free 17 x . File state income tax online free 12/2) – $5,000     184 days     = $174. File state income tax online free 11020 = $. File state income tax online free 94625   184           The number of days for the second accrual period (November 1 through April 30) is 181 days (182 for leap years). File state income tax online free The daily OID for the second accrual period is figured as follows. File state income tax online free   ($86,409. File state income tax online free 28 x . File state income tax online free 12/2) – $5,000     181 days     = $184. File state income tax online free 55681 = $1. File state income tax online free 01965   181 If you hold the debt instrument through the end of Year 1, you must include $236. File state income tax online free 31 of OID in income. File state income tax online free This is $174. File state income tax online free 11 ($. File state income tax online free 94625 × 184 days) for the period May 1 through October 31 plus $62. File state income tax online free 20 ($1. File state income tax online free 01965 × 61 days) for the period November 1 through December 31. File state income tax online free The OID is added to the $5,000 interest income paid on October 31 of Year 1. File state income tax online free Your basis in the debt instrument is increased by the OID you include in income. File state income tax online free On January 1 of Year 2, your basis in the A Corporation debt instrument is $86,471. File state income tax online free 48 ($86,235. File state income tax online free 17 + $236. File state income tax online free 31). File state income tax online free Short first accrual period. File state income tax online free   You may have to make adjustments if a debt instrument has a short first accrual period. File state income tax online free For example, a debt instrument with 6-month accrual periods that is issued on February 15 and matures on October 31 has a short first accrual period that ends April 30. File state income tax online free (The remaining accrual periods begin on May 1 and November 1. File state income tax online free ) For this short period, figure the daily OID as described earlier, but adjust the yield for the length of the short accrual period. File state income tax online free You may use any reasonable compounding method in determining OID for a short period. File state income tax online free Examples of reasonable compounding methods include continuous compounding and monthly compounding (that is, simple interest within a month). File state income tax online free Consult your tax advisor for more information about making this computation. File state income tax online free   The OID for the final accrual period is the difference between the amount payable at maturity (other than a payment of qualified stated interest) and the adjusted issue price at the beginning of the final accrual period. File state income tax online free Reduction for acquisition premium. File state income tax online free   If you bought the debt instrument at an acquisition premium, figure the OID includible in income by reducing the daily OID by the daily acquisition premium. File state income tax online free To figure the daily acquisition premium, multiply the daily OID by the following fraction. File state income tax online free The numerator is the acquisition premium. File state income tax online free The denominator is the total OID remaining for the debt instrument after your purchase date. File state income tax online free Example 7. File state income tax online free Assume the same facts as in Example 6, except that you bought the debt instrument on November 1 of Year 1 for $87,000, after its original issue on May 1 of Year 1. File state income tax online free The adjusted issue price on November 1 of Year 1 is $86,409. File state income tax online free 28 ($86,235. File state income tax online free 17 + $174. File state income tax online free 11). File state income tax online free In this case, you paid an acquisition premium of $590. File state income tax online free 72 ($87,000 − $86,409. File state income tax online free 28). File state income tax online free The daily OID for the accrual period November 1 through April 30, reduced for the acquisition premium, is figured as follows. File state income tax online free 1) Daily OID on date of purchase (2nd accrual period) $1. File state income tax online free 01965*  2)  Acquisition premium $590. File state income tax online free 72    3)  Total OID remaining after purchase date ($13,764. File state income tax online free 83 − $174. File state income tax online free 11) 13,590. File state income tax online free 72   4) Line 2 ÷ line 3 . File state income tax online free 04346  5)  Line 1 × line 4 . File state income tax online free 04432  6)  Daily OID reduced for the acquisition premium. File state income tax online free Line 1 − line 5 $0. File state income tax online free 97533  * As shown in Example 6. File state income tax online free The total OID to include in income for Year 1 is $59. File state income tax online free 50 ($. File state income tax online free 97533 × 61 days). File state income tax online free Contingent Payment Debt Instruments This discussion shows how to figure OID on a contingent payment debt instrument issued after August 12, 1996, that was issued for cash or publicly traded property. File state income tax online free In general, a contingent payment debt instrument provides for one or more payments that are contingent as to timing or amount. File state income tax online free If you hold a contingent payment bond, you must report OID as it accrues each year. File state income tax online free Because the actual payments on a contingent payment debt instrument cannot be known in advance, issuers and holders cannot use the constant yield method (discussed earlier under Debt Instruments Issued After 1984) without making certain assumptions about the payments on the debt instrument. File state income tax online free To figure OID accruals on contingent payment debt instruments, holders and issuers must use the noncontingent bond method. File state income tax online free Noncontingent bond method. File state income tax online free    Under this method, the issuer must compute a comparable yield for the debt instrument and, based on this yield, construct a projected payment schedule for the instrument, which includes a projected fixed amount for each contingent payment. File state income tax online free In general, holders and issuers accrue OID on this projected payment schedule using the constant yield method that applies to fixed payment debt instruments. File state income tax online free When a contingent payment differs from the projected fixed amount, the holders and issuers make adjustments to their OID accruals. File state income tax online free If the actual contingent payment is larger than expected, both the issuer and the holder increase their OID accruals. File state income tax online free If the actual contingent payment is smaller than expected, holders and issuers generally decrease their OID accruals. File state income tax online free Form 1099-OID. File state income tax online free   The amount shown on Form 1099-OID in box 1 you receive for a contingent payment debt instrument may not be the correct amount to include in income. File state income tax online free For example, the amount may not be correct if the contingent payment was different from the projected amount. File state income tax online free If the amount in box 1 is not correct, you must figure the OID to report on your return under the following rules. File state income tax online free For information on showing an OID adjustment on your tax return, see How To Report OID, earlier. File state income tax online free Figuring OID. File state income tax online free   To figure OID on a contingent payment debt instrument, you need to know the “comparable yield” and “projected payment schedule” of the debt instrument. File state income tax online free The issuer must make these available to you. File state income tax online free Comparable yield. File state income tax online free   The comparable yield generally is the yield at which the issuer would issue a fixed rate debt instrument with terms and conditions similar to those of the contingent payment debt instrument. File state income tax online free The comparable yield is determined as of the debt instrument's issue date. File state income tax online free Projected payment schedule. File state income tax online free   The projected payment schedule for a contingent payment debt instrument includes all fixed payments due under the instrument and a projected fixed amount for each contingent payment. File state income tax online free The projected payment schedule is created by the issuer as of the debt instrument's issue date. File state income tax online free It is used to determine the issuer's and holder's interest accruals and adjustments. File state income tax online free Steps for figuring OID. File state income tax online free   Figure the OID on a contingent payment debt instrument in two steps. File state income tax online free Figure the OID using the constant yield method (discussed earlier under Debt Instruments Issued After 1984 ) that applies to fixed payment debt instruments. File state income tax online free Use the comparable yield as the yield to maturity. File state income tax online free In general, use the projected payment schedule to determine the instrument's adjusted issue price at the beginning of each accrual period (other than the initial period). File state income tax online free Do not treat any amount payable as qualified stated interest. File state income tax online free Adjust the OID in (1) to account for actual contingent payments. File state income tax online free If the contingent payment is greater than the projected fixed amount, you have a positive adjustment. File state income tax online free If the contingent payment is less than the projected fixed amount, you have a negative adjustment. File state income tax online free Net positive adjustment. File state income tax online free   A net positive adjustment exists for a tax year when the total of any positive adjustments described in (2) above for the tax year is more than the total of any negative adjustments for the tax year. File state income tax online free Treat a net positive adjustment as additional OID for the tax year. File state income tax online free Net negative adjustment. File state income tax online free   A net negative adjustment exists for a tax year when the total of any negative adjustments described in (2) above for the tax year is more than the total of any positive adjustments for the tax year. File state income tax online free Use a net negative adjustment to offset OID on the debt instrument for the tax year. File state income tax online free If the net negative adjustment is more than the OID on the debt instrument for the tax year, you can claim the difference as an ordinary loss. File state income tax online free However, the amount you can claim as an ordinary loss is limited to the OID on the debt instrument you included in income in prior tax years. File state income tax online free You must carry forward any net negative adjustment that is more than the total OID for the tax year and prior tax years and treat it as a negative adjustment in the next tax year. File state income tax online free Basis adjustments. File state income tax online free   In general, increase your basis in a contingent payment debt instrument by the OID included in income. File state income tax online free Your basis, however, is not affected by any negative or positive adjustments. File state income tax online free Decrease your basis by any noncontingent payment received and the projected contingent payment scheduled to be received. File state income tax online free Treatment of gain or loss on sale or exchange. File state income tax online free   If you sell a contingent payment debt instrument at a gain, your gain is ordinary income (interest income), even if you hold the debt instrument as a capital asset. File state income tax online free If you sell a contingent payment debt instrument at a loss, your loss is an ordinary loss to the extent of your prior OID accruals on the debt instrument. File state income tax online free If the debt instrument is a capital asset, treat any loss that is more than your prior OID accruals as a capital loss. File state income tax online free See Regulations section 1. File state income tax online free 1275-4 for exceptions to these rules. File state income tax online free Premium, acquisition premium, and market discount. File state income tax online free   The rules for accruing premium, acquisition premium, and market discount do not apply to a contingent payment debt instrument. File state income tax online free See Regulations section 1. File state income tax online free 1275-4 to determine how to account for these items. File state income tax online free Inflation-Indexed Debt Instruments This discussion shows how you figure OID on certain inflation-indexed debt instruments issued after January 5, 1997. File state income tax online free An inflation-indexed debt instrument is generally a debt instrument on which the payments are adjusted for inflation and d