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Filelate com 1. Filelate com   Investment Income Table of Contents Topics - This chapter discusses: Useful Items - You may want to see: General InformationSSN for joint account. Filelate com Custodian account for your child. Filelate com Penalty for failure to supply SSN. Filelate com Certification. Filelate com Underreported interest and dividends. Filelate com How to stop backup withholding due to underreporting. Filelate com How to stop backup withholding due to an incorrect identification number. Filelate com Reporting backup withholding. Filelate com Nonresident aliens. Filelate com Penalties. Filelate com Savings account with parent as trustee. Filelate com Interest IncomeInterest not reported on Form 1099-INT. Filelate com Nominees. Filelate com Incorrect amount. Filelate com Information reporting requirement. Filelate com Taxable Interest — General Below-Market Loans U. Filelate com S. Filelate com Savings Bonds U. Filelate com S. Filelate com Treasury Bills, Notes, and Bonds Bonds Sold Between Interest Dates Insurance State or Local Government Obligations Discount on Debt InstrumentsOriginal Issue Discount (OID) Market Discount Bonds Discount on Short-Term Obligations Election To Report All Interest as OID When To Report Interest IncomeConstructive receipt. Filelate com How To Report Interest IncomeSchedule B (Form 1040A or 1040). Filelate com Worksheet for savings bonds distributed from a retirement or profit-sharing plan. Filelate com File Form 1099-INT with the IRS. Filelate com Dividends and Other DistributionsDividends not reported on Form 1099-DIV. Filelate com Nominees. Filelate com Ordinary Dividends Capital Gain Distributions Nondividend Distributions Liquidating Distributions Distributions of Stock and Stock Rights Other Distributions How To Report Dividend IncomeElection. Filelate com Independent contractor. Filelate com Investment interest deducted. Filelate com Exception 1. Filelate com Exception 2. Filelate com Undistributed capital gains. Filelate com File Form 1099-DIV with the IRS. Filelate com Stripped Preferred Stock REMICs, FASITs, and Other CDOsREMICs Collateralized Debt Obligations (CDOs) FASITs S CorporationsLimit on losses and deductions. Filelate com Passive activity losses. Filelate com Form 8582. Filelate com Investment ClubsInvestments in name of member. Filelate com Tax Treatment of the Club Topics - This chapter discusses: Interest Income , Discount on Debt Instruments , When To Report Interest Income , How To Report Interest Income , Dividends and Other Distributions , How To Report Dividend Income , Stripped Preferred Stock , Real estate mortgage investment conduits (REMICs), financial asset securitization investment trusts (FASITs), and other collateralized debt obligations (CDOs) , S Corporations , and Investment Clubs . Filelate com Useful Items - You may want to see: Publication 525 Taxable and Nontaxable Income 537 Installment Sales 590 Individual Retirement Arrangements (IRAs) 925 Passive Activity and At-Risk Rules 1212 Guide to Original Issue Discount (OID) Instruments Form (and Instructions) Schedule B (Form 1040A or 1040) Interest and Ordinary Dividends Schedule D (Form 1040) Capital Gains and Losses 1040 U. Filelate com S. Filelate com Individual Income Tax Return 1040A U. Filelate com S. Filelate com Individual Income Tax Return 1040EZ Income Tax Return for Single and Joint Filers With No Dependents 1099 General Instructions for Certain Information Returns 2439 Notice to Shareholder of Undistributed Long-Term Capital Gains 3115 Application for Change in Accounting Method 6251 Alternative Minimum Tax — Individuals 8582 Passive Activity Loss Limitations 8615 Tax for Certain Children Who Have Unearned Income 8814 Parents' Election To Report Child's Interest and Dividends 8815 Exclusion of Interest From Series EE and I U. Filelate com S. Filelate com Savings Bonds Issued After 1989 8818 Optional Form To Record Redemption of Series EE and I U. Filelate com S. Filelate com Savings Bonds Issued After 1989 8824 Like-Kind Exchanges 8949 Sales and Other Dispositions of Capital Assets 8960 Net Investment Income Tax—Individuals, Estates, and Trusts See chapter 5, How To Get Tax Help , for information about getting these publications and forms. Filelate com General Information A few items of general interest are covered here. Filelate com Recordkeeping. Filelate com You should keep a list showing sources and investment income amounts you receive during the year. Filelate com Also keep the forms you receive showing your investment income (Forms 1099-INT, Interest Income, and 1099-DIV, Dividends and Distributions, for example) as an important part of your records. Filelate com Net investment income tax (NIIT). Filelate com   Beginning in 2013, you may be subject to the NIIT. Filelate com The NIIT is a 3. Filelate com 8% tax on the lesser of your net investment income or the amount of your modified adjusted gross income (MAGI) that is over a threshold amount based on your filing status. Filelate com    Filing Status Threshold Amount Married filing jointly $250,000 Married filing separately $125,000 Single $200,000 Head of household (with qualifying person) $200,000 Qualifying Widow(er) with dependent child $250,000    For more information, see Form 8960 and Instructions for Form 8960. Filelate com Tax on unearned income of certain children. Filelate com   Part of a child's 2013 unearned income may be taxed at the parent's tax rate. Filelate com This may happen if all of the following are true. Filelate com The child had more than $2,000 of unearned income. Filelate com The child is required to file a tax return. Filelate com The child was: Under age 18 at the end of 2013, Age 18 at the end of 2013 and did not have earned income that was more than half of the child's support, or A full-time student over age 18 and under age 24 at the end of 2013 and did not have earned income that was more than half of the child's support. Filelate com At least one of the child's parents was alive at the end of 2013. Filelate com The child does not file a joint return for 2013. Filelate com A child born on January 1, 1996, is considered to be age 18 at the end of 2013; a child born on January 1, 1995, is considered to be age 19 at the end of 2013; a child born on January 1, 1990, is considered to be age 24 at the end of 2013. Filelate com   If all of these statements are true, Form 8615 must be completed and attached to the child's tax return. Filelate com If any of these statements is not true, Form 8615 is not required and the child's income is taxed at his or her own tax rate. Filelate com    However, the parent can choose to include the child's interest and dividends on the parent's return if certain requirements are met. Filelate com Use Form 8814 for this purpose. Filelate com   For more information about the tax on unearned income of children and the parents' election, see Publication 929, Tax Rules for Children and Dependents. Filelate com Beneficiary of an estate or trust. Filelate com   Interest, dividends, and other investment income you receive as a beneficiary of an estate or trust is generally taxable income. Filelate com You should receive a Schedule K-1 (Form 1041), Beneficiary's Share of Income, Deductions, Credits, etc. Filelate com , from the fiduciary. Filelate com Your copy of Schedule K-1 (Form 1041) and its instructions will tell you where to report the income on your Form 1040. Filelate com Social security number (SSN). Filelate com   You must give your name and SSN or individual tax identification number (ITIN) to any person required by federal tax law to make a return, statement, or other document that relates to you. Filelate com This includes payers of interest and dividends. Filelate com If you do not give your SSN or ITIN to the payer of interest, you may have to pay a penalty. Filelate com SSN for joint account. Filelate com   If the funds in a joint account belong to one person, list that person's name first on the account and give that person's SSN to the payer. Filelate com (For information on who owns the funds in a joint account, see Joint accounts , later. Filelate com ) If the joint account contains combined funds, give the SSN of the person whose name is listed first on the account. Filelate com This is because only one name and SSN can be shown on Form 1099. Filelate com   These rules apply both to joint ownership by a married couple and to joint ownership by other individuals. Filelate com For example, if you open a joint savings account with your child using funds belonging to the child, list the child's name first on the account and give the child's SSN. Filelate com Custodian account for your child. Filelate com   If your child is the actual owner of an account that is recorded in your name as custodian for the child, give the child's SSN to the payer. Filelate com For example, you must give your child's SSN to the payer of dividends on stock owned by your child, even though the dividends are paid to you as custodian. Filelate com Penalty for failure to supply SSN. Filelate com   You will be subject to a penalty if, when required, you fail to: Include your SSN on any return, statement, or other document, Give your SSN to another person who must include it on any return, statement, or other document, or Include the SSN of another person on any return, statement, or other document. Filelate com The penalty is $50 for each failure up to a maximum penalty of $100,000 for any calendar year. Filelate com   You will not be subject to this penalty if you can show that your failure to provide the SSN was due to reasonable cause and not to willful neglect. Filelate com   If you fail to supply an SSN, you may also be subject to backup withholding. Filelate com Backup withholding. Filelate com   Your investment income is generally not subject to regular withholding. Filelate com However, it may be subject to backup withholding to ensure that income tax is collected on the income. Filelate com Under backup withholding, the bank, broker, or other payer of interest, original issue discount (OID), dividends, cash patronage dividends, or royalties must withhold, as income tax, on the amount you are paid, applying the appropriate withholding rate. Filelate com   Backup withholding applies if: You do not give the payer your identification number (either a social security number or an employer identification number) in the required manner, The IRS notifies the payer that you gave an incorrect identification number, The IRS notifies the payer that you are subject to backup withholding on interest or dividends because you have underreported interest or dividends on your income tax return, or You are required, but fail, to certify that you are not subject to backup withholding for the reason described in (3). Filelate com Certification. Filelate com   For new accounts paying interest or dividends, you must certify under penalties of perjury that your SSN is correct and that you are not subject to backup withholding. Filelate com Your payer will give you a Form W-9, Request for Taxpayer Identification Number and Certification, or similar form, to make this certification. Filelate com If you fail to make this certification, backup withholding may begin immediately on your new account or investment. Filelate com Underreported interest and dividends. Filelate com   You will be considered to have underreported your interest and dividends if the IRS has determined for a tax year that: You failed to include any part of a reportable interest or dividend payment required to be shown on your return, or You were required to file a return and to include a reportable interest or dividend payment on that return, but you failed to file the return. Filelate com How to stop backup withholding due to underreporting. Filelate com   If you have been notified that you underreported interest or dividends, you can request a determination from the IRS to prevent backup withholding from starting or to stop backup withholding once it has begun. Filelate com You must show that at least one of the following situations applies. Filelate com No underreporting occurred. Filelate com You have a bona fide dispute with the IRS about whether underreporting occurred. Filelate com Backup withholding will cause or is causing an undue hardship, and it is unlikely that you will underreport interest and dividends in the future. Filelate com You have corrected the underreporting by filing a return if you did not previously file one and by paying all taxes, penalties, and interest due for any underreported interest or dividend payments. Filelate com   If the IRS determines that backup withholding should stop, it will provide you with a certification and will notify the payers who were sent notices earlier. Filelate com How to stop backup withholding due to an incorrect identification number. Filelate com   If you have been notified by a payer that you are subject to backup withholding because you have provided an incorrect SSN or employer identification number, you can stop it by following the instructions the payer gives you. Filelate com Reporting backup withholding. Filelate com   If backup withholding is deducted from your interest or dividend income or other reportable payment, the bank or other business must give you an information return for the year (for example, a Form 1099-INT) indicating the amount withheld. Filelate com The information return will show any backup withholding as “Federal income tax withheld. Filelate com ” Nonresident aliens. Filelate com    Generally, payments made to nonresident aliens are not subject to backup withholding. Filelate com You can use Form W-8BEN, Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding, to certify exempt status. Filelate com However, this does not exempt you from the 30% (or lower treaty) withholding rate that may apply to your investment income. Filelate com For information on the 30% rate, see Publication 519, U. Filelate com S. Filelate com Tax Guide for Aliens. Filelate com Penalties. Filelate com   There are civil and criminal penalties for giving false information to avoid backup withholding. Filelate com The civil penalty is $500. Filelate com The criminal penalty, upon conviction, is a fine of up to $1,000, or imprisonment of up to 1 year, or both. Filelate com Where to report investment income. Filelate com   Table 1-1 gives an overview of the forms and schedules to use to report some common types of investment income. Filelate com But see the rest of this publication for detailed information about reporting investment income. Filelate com Joint accounts. Filelate com   If two or more persons hold property (such as a savings account, bond, or stock) as joint tenants, tenants by the entirety, or tenants in common, each person's share of any interest or dividends from the property is determined by local law. Filelate com Community property states. Filelate com   If you are married and receive a distribution that is community income, one-half of the distribution is generally considered to be received by each spouse. Filelate com If you file separate returns, you must each report one-half of any taxable distribution. Filelate com See Publication 555, Community Property, for more information on community income. Filelate com   If the distribution is not considered community property and you and your spouse file separate returns, each of you must report your separate taxable distributions. Filelate com Example. Filelate com You and your spouse have a joint money market account. Filelate com Under state law, half the income from the account belongs to you, and half belongs to your spouse. Filelate com If you file separate returns, you each report half the income. Filelate com Income from property given to a child. Filelate com   Property you give as a parent to your child under the Model Gifts of Securities to Minors Act, the Uniform Gifts to Minors Act, or any similar law becomes the child's property. Filelate com   Income from the property is taxable to the child, except that any part used to satisfy a legal obligation to support the child is taxable to the parent or guardian having that legal obligation. Filelate com Savings account with parent as trustee. Filelate com   Interest income from a savings account opened for a minor child, but placed in the name and subject to the order of the parents as trustees, is taxable to the child if, under the law of the state in which the child resides, both of the following are true. Filelate com The savings account legally belongs to the child. Filelate com The parents are not legally permitted to use any of the funds to support the child. Filelate com Table 1-1. Filelate com Where To Report Common Types of Investment Income (For detailed information about reporting investment income, see the rest of this publication, especially How To Report Interest Income and How To Report Dividend Income in chapter 1. Filelate com ) Type of Income If you file Form 1040, report on . Filelate com . Filelate com . Filelate com If you can file Form 1040A, report on . Filelate com . Filelate com . Filelate com If you can file Form 1040EZ, report on . Filelate com . Filelate com . Filelate com Tax-exempt interest (Form 1099-INT, box 8) Line 8b Line 8b Space to the left of line 2 (enter “TEI” and the amount) Taxable interest that totals $1,500 or less Line 8a (You may need to file Schedule B as well. Filelate com ) Line 8a (You may need to file Schedule B as well. Filelate com ) Line 2 Taxable interest that totals more than $1,500 Line 8a; also use Schedule B, line 1 Line 8a; also use Schedule B, line 1   Savings bond interest you will exclude because of higher education expenses Schedule B; also use Form 8815 Schedule B; also use Form 8815   Ordinary dividends that total $1,500 or less Line 9a (You may need to file Schedule B as well. Filelate com ) Line 9a (You may need to file Schedule B as well. Filelate com )   Ordinary dividends that total more than $1,500 Line 9a; also use Schedule B, line 5 Line 9a; also use Schedule B, line 5   Qualified dividends (if you do not have to file Schedule D) Line 9b; also use the Qualified Dividends and Capital Gain Tax Worksheet, line 2 Line 9b; also use the Qualified Dividends and Capital Gain Tax Worksheet, line 2   Qualified dividends (if you have to file Schedule D) Line 9b; also use the Qualified Dividends and Capital Gain Tax Worksheet or the Schedule D Tax Worksheet, line 2 You cannot use Form 1040A    You cannot use Form 1040EZ Capital gain distributions (if you do not have to file Schedule D) Line 13; also use the Qualified Dividends and Capital Gain Tax Worksheet, line 3 Line 10; also use the Qualified Dividends and Capital Gain Tax Worksheet, line 3   Capital gain distributions (if you have to file Schedule D) Schedule D, line 13; also use the Qualified Dividends and Capital Gain Tax Worksheet or the Schedule D Tax Worksheet     Section 1250, 1202, or collectibles gain (Form 1099-DIV, box 2b, 2c, or 2d) Form 8949 and Schedule D     Nondividend distributions (Form 1099-DIV, box 3) Generally not reported*     Undistributed capital gains (Form 2439, boxes 1a - 1d) Schedule D     Gain or loss from sales of stocks or bonds Line 13; also use Form 8949, Schedule D, and the Qualified Dividends and Capital Gain Tax Worksheet or the Schedule D Tax Worksheet You cannot use Form 1040A   Gain or loss from exchanges of like-kind investment property Line 13; also use Schedule D, Form 8824, and the Qualified Dividends and Capital Gain Tax Worksheet or the Schedule D Tax Worksheet     *Report any amounts in excess of your basis in your mutual fund shares on Form 8949. Filelate com Use Part II if you held the shares more than 1 year. Filelate com Use Part I if you held your mutual fund shares 1 year or less. Filelate com For details on Form 8949, see Reporting Capital Gains and Losses in chapter 4, and the Instructions for Form 8949. Filelate com Accuracy-related penalty. Filelate com   An accuracy-related penalty of 20% can be charged for underpayments of tax due to negligence or disregard of rules or regulations or substantial understatement of tax. Filelate com For information on the penalty and any interest that applies, see Penalties in chapter 2. Filelate com Interest Income This section discusses the tax treatment of different types of interest income. Filelate com In general, any interest that you receive or that is credited to your account and can be withdrawn is taxable income. Filelate com (It does not have to be entered in your passbook. Filelate com ) Exceptions to this rule are discussed later. Filelate com Form 1099-INT. Filelate com   Interest income is generally reported to you on Form 1099-INT, or a similar statement, by banks, savings and loans, and other payers of interest. Filelate com This form shows you the interest you received during the year. Filelate com Keep this form for your records. Filelate com You do not have to attach it to your tax return. Filelate com   Report on your tax return the total interest income you receive for the tax year. Filelate com Interest not reported on Form 1099-INT. Filelate com   Even if you do not receive Form 1099-INT, you must still report all of your interest income. Filelate com For example, you may receive distributive shares of interest from partnerships or S corporations. Filelate com This interest is reported to you on Schedule K-1 (Form 1065), Partner's Share of Income, Deductions, Credits, etc. Filelate com , and Schedule K-1 (Form 1120S), Shareholder's Share of Income, Deductions, Credits, etc. Filelate com Nominees. Filelate com   Generally, if someone receives interest as a nominee for you, that person must give you a Form 1099-INT showing the interest received on your behalf. Filelate com   If you receive a Form 1099-INT that includes amounts belonging to another person, see the discussion on Nominee distributions , later, under How To Report Interest Income. Filelate com Incorrect amount. Filelate com   If you receive a Form 1099-INT that shows an incorrect amount (or other incorrect information), you should ask the issuer for a corrected form. Filelate com The new Form 1099-INT you receive will be marked “Corrected. Filelate com ” Form 1099-OID. Filelate com   Reportable interest income also may be shown on Form 1099-OID, Original Issue Discount. Filelate com For more information about amounts shown on this form, see Original Issue Discount (OID) , later in this chapter. Filelate com Exempt-interest dividends. Filelate com   Exempt-interest dividends you receive from a mutual fund or other regulated investment company, including those received from a qualified fund of funds in any tax year beginning after December 22, 2010, are not included in your taxable income. Filelate com (However, see Information reporting requirement , next. Filelate com ) Exempt-interest dividends should be shown in box 10 of Form 1099-DIV. Filelate com You do not reduce your basis for distributions that are exempt-interest dividends. Filelate com Information reporting requirement. Filelate com   Although exempt-interest dividends are not taxable, you must show them on your tax return if you have to file. Filelate com This is an information reporting requirement and does not change the exempt-interest dividends into taxable income. Filelate com See How To Report Interest Income , later. Filelate com Note. Filelate com Exempt-interest dividends paid from specified private activity bonds may be subject to the alternative minimum tax. Filelate com The exempt-interest dividends subject to the alternative minimum tax are shown in box 11 of Form 1099-DIV. Filelate com See Form 6251 and its instructions for more information about this tax. Filelate com Private activity bonds are discussed later under State or Local Government Obligations. Filelate com Interest on VA dividends. Filelate com   Interest on insurance dividends left on deposit with the Department of Veterans Affairs (VA) is not taxable. Filelate com This includes interest paid on dividends on converted United States Government Life Insurance policies and on National Service Life Insurance policies. Filelate com Individual retirement arrangements (IRAs). Filelate com   Interest on a Roth IRA generally is not taxable. Filelate com Interest on a traditional IRA is tax deferred. Filelate com You generally do not include it in your income until you make withdrawals from the IRA. Filelate com See Publication 590 for more information. Filelate com Taxable Interest — General Taxable interest includes interest you receive from bank accounts, loans you make to others, and other sources. Filelate com The following are some sources of taxable interest. Filelate com Dividends that are actually interest. Filelate com   Certain distributions commonly called dividends are actually interest. Filelate com You must report as interest so-called “dividends” on deposits or on share accounts in: Cooperative banks, Credit unions, Domestic building and loan associations, Domestic savings and loan associations, Federal savings and loan associations, and Mutual savings banks. Filelate com  The “dividends” will be shown as interest income on Form 1099-INT. Filelate com Money market funds. Filelate com   Money market funds are offered by nonbank financial institutions such as mutual funds and stock brokerage houses, and pay dividends. Filelate com Generally, amounts you receive from money market funds should be reported as dividends, not as interest. Filelate com Certificates of deposit and other deferred interest accounts. Filelate com   If you open any of these accounts, interest may be paid at fixed intervals of 1 year or less during the term of the account. Filelate com You generally must include this interest in your income when you actually receive it or are entitled to receive it without paying a substantial penalty. Filelate com The same is true for accounts that mature in 1 year or less and pay interest in a single payment at maturity. Filelate com If interest is deferred for more than 1 year, see Original Issue Discount (OID) , later. Filelate com Interest subject to penalty for early withdrawal. Filelate com   If you withdraw funds from a deferred interest account before maturity, you may have to pay a penalty. Filelate com You must report the total amount of interest paid or credited to your account during the year, without subtracting the penalty. Filelate com See Penalty on early withdrawal of savings under How To Report Interest Income, later, for more information on how to report the interest and deduct the penalty. Filelate com Money borrowed to invest in certificate of deposit. Filelate com   The interest you pay on money borrowed from a bank or savings institution to meet the minimum deposit required for a certificate of deposit from the institution and the interest you earn on the certificate are two separate items. Filelate com You must report the total interest you earn on the certificate in your income. Filelate com If you itemize deductions, you can deduct the interest you pay as investment interest, up to the amount of your net investment income. Filelate com See Interest Expenses in chapter 3. Filelate com Example. Filelate com You deposited $5,000 with a bank and borrowed $5,000 from the bank to make up the $10,000 minimum deposit required to buy a 6-month certificate of deposit. Filelate com The certificate earned $575 at maturity in 2013, but you received only $265, which represented the $575 you earned minus $310 interest charged on your $5,000 loan. Filelate com The bank gives you a Form 1099-INT for 2013 showing the $575 interest you earned. Filelate com The bank also gives you a statement showing that you paid $310 interest for 2013. Filelate com You must include the $575 in your income. Filelate com If you itemize your deductions on Schedule A (Form 1040), Itemized Deductions, you can deduct $310, subject to the net investment income limit. Filelate com Gift for opening account. Filelate com   If you receive noncash gifts or services for making deposits or for opening an account in a savings institution, you may have to report the value as interest. Filelate com   For deposits of less than $5,000, gifts or services valued at more than $10 must be reported as interest. Filelate com For deposits of $5,000 or more, gifts or services valued at more than $20 must be reported as interest. Filelate com The value is determined by the cost to the financial institution. Filelate com Example. Filelate com You open a savings account at your local bank and deposit $800. Filelate com The account earns $20 interest. Filelate com You also receive a $15 calculator. Filelate com If no other interest is credited to your account during the year, the Form 1099-INT you receive will show $35 interest for the year. Filelate com You must report $35 interest income on your tax return. Filelate com Interest on insurance dividends. Filelate com   Interest on insurance dividends left on deposit with an insurance company that can be withdrawn annually is taxable to you in the year it is credited to your account. Filelate com However, if you can withdraw it only on the anniversary date of the policy (or other specified date), the interest is taxable in the year that date occurs. Filelate com Prepaid insurance premiums. Filelate com   Any increase in the value of prepaid insurance premiums, advance premiums, or premium deposit funds is interest if it is applied to the payment of premiums due on insurance policies or made available for you to withdraw. Filelate com U. Filelate com S. Filelate com obligations. Filelate com   Interest on U. Filelate com S. Filelate com obligations, such as U. Filelate com S. Filelate com Treasury bills, notes, and bonds, issued by any agency or instrumentality of the United States is taxable for federal income tax purposes. Filelate com Interest on tax refunds. Filelate com   Interest you receive on tax refunds is taxable income. Filelate com Interest on condemnation award. Filelate com   If the condemning authority pays you interest to compensate you for a delay in payment of an award, the interest is taxable. Filelate com Installment sale payments. Filelate com   If a contract for the sale or exchange of property provides for deferred payments, it also usually provides for interest payable with the deferred payments. Filelate com That interest is taxable when you receive it. Filelate com If little or no interest is provided for in a deferred payment contract, part of each payment may be treated as interest. Filelate com See Unstated Interest and Original Issue Discount (OID) in Publication 537. Filelate com Interest on annuity contract. Filelate com   Accumulated interest on an annuity contract you sell before its maturity date is taxable. Filelate com Usurious interest. Filelate com   Usurious interest is interest charged at an illegal rate. Filelate com This is taxable as interest unless state law automatically changes it to a payment on the principal. Filelate com Interest income on frozen deposits. Filelate com   Exclude from your gross income interest on frozen deposits. Filelate com A deposit is frozen if, at the end of the year, you cannot withdraw any part of the deposit because: The financial institution is bankrupt or insolvent, or The state in which the institution is located has placed limits on withdrawals because other financial institutions in the state are bankrupt or insolvent. Filelate com   The amount of interest you must exclude is the interest that was credited on the frozen deposits minus the sum of: The net amount you withdrew from these deposits during the year, and The amount you could have withdrawn as of the end of the year (not reduced by any penalty for premature withdrawals of a time deposit). Filelate com If you receive a Form 1099-INT for interest income on deposits that were frozen at the end of 2013, see Frozen deposits under How To Report Interest Income for information about reporting this interest income exclusion on your tax return. Filelate com   The interest you exclude is treated as credited to your account in the following year. Filelate com You must include it in income in the year you can withdraw it. Filelate com Example. Filelate com $100 of interest was credited on your frozen deposit during the year. Filelate com You withdrew $80 but could not withdraw any more as of the end of the year. Filelate com You must include $80 in your income and exclude $20 from your income for the year. Filelate com You must include the $20 in your income for the year you can withdraw it. Filelate com Bonds traded flat. Filelate com    If you buy a bond at a discount when interest has been defaulted or when the interest has accrued but has not been paid, the transaction is described as trading a bond flat. Filelate com The defaulted or unpaid interest is not income and is not taxable as interest if paid later. Filelate com When you receive a payment of that interest, it is a return of capital that reduces the remaining cost basis of your bond. Filelate com Interest that accrues after the date of purchase, however, is taxable interest income for the year received or accrued. Filelate com See Bonds Sold Between Interest Dates , later in this chapter. Filelate com Below-Market Loans If you make a below-market gift or demand loan, you must report as interest income any forgone interest (defined later) from that loan. Filelate com The below-market loan rules and exceptions are described in this section. Filelate com For more information, see section 7872 of the Internal Revenue Code and its regulations. Filelate com If you receive a below-market loan, you may be able to deduct the forgone interest as well as any interest you actually paid, but not if it is personal interest. Filelate com Loans subject to the rules. Filelate com   The rules for below-market loans apply to: Gift loans, Pay-related loans, Corporation-shareholder loans, Tax avoidance loans, and Certain loans made to qualified continuing care facilities under a continuing care contract. Filelate com A pay-related loan is any below-market loan between an employer and an employee or between an independent contractor and a person for whom the contractor provides services. Filelate com A tax avoidance loan is any below-market loan where the avoidance of federal tax is one of the main purposes of the interest arrangement. Filelate com Forgone interest. Filelate com   For any period, forgone interest is: The amount of interest that would be payable for that period if interest accrued on the loan at the applicable federal rate and was payable annually on December 31, minus Any interest actually payable on the loan for the period. Filelate com Applicable federal rate. Filelate com   Applicable federal rates are published by the IRS each month in the Internal Revenue Bulletin. Filelate com Some IRS offices have these bulletins available for research. Filelate com See chapter 5, How To Get Tax Help , for other ways to get this information. Filelate com Rules for below-market loans. Filelate com   The rules that apply to a below-market loan depend on whether the loan is a gift loan, demand loan, or term loan. Filelate com Gift and demand loans. Filelate com   A gift loan is any below-market loan where the forgone interest is in the nature of a gift. Filelate com   A demand loan is a loan payable in full at any time upon demand by the lender. Filelate com A demand loan is a below-market loan if no interest is charged or if interest is charged at a rate below the applicable federal rate. Filelate com   A demand loan or gift loan that is a below-market loan is generally treated as an arm's-length transaction in which the lender is treated as having made: A loan to the borrower in exchange for a note that requires the payment of interest at the applicable federal rate, and An additional payment to the borrower in an amount equal to the forgone interest. Filelate com The borrower is generally treated as transferring the additional payment back to the lender as interest. Filelate com The lender must report that amount as interest income. Filelate com   The lender's additional payment to the borrower is treated as a gift, dividend, contribution to capital, pay for services, or other payment, depending on the substance of the transaction. Filelate com The borrower may have to report this payment as taxable income, depending on its classification. Filelate com These transfers are considered to occur annually, generally on December 31. Filelate com Term loans. Filelate com   A term loan is any loan that is not a demand loan. Filelate com A term loan is a below-market loan if the amount of the loan is more than the present value of all payments due under the loan. Filelate com   A lender who makes a below-market term loan other than a gift loan is treated as transferring an additional lump-sum cash payment to the borrower (as a dividend, contribution to capital, etc. Filelate com ) on the date the loan is made. Filelate com The amount of this payment is the amount of the loan minus the present value, at the applicable federal rate, of all payments due under the loan. Filelate com An equal amount is treated as original issue discount (OID). Filelate com The lender must report the annual part of the OID as interest income. Filelate com The borrower may be able to deduct the OID as interest expense. Filelate com See Original Issue Discount (OID) , later. Filelate com Exceptions to the below-market loan rules. Filelate com   Exceptions to the below-market loan rules are discussed here. Filelate com Exception for loans of $10,000 or less. Filelate com   The rules for below-market loans do not apply to any day on which the total outstanding amount of loans between the borrower and lender is $10,000 or less. Filelate com This exception applies only to: Gift loans between individuals if the gift loan is not directly used to buy or carry income-producing assets, and Pay-related loans or corporation-shareholder loans if the avoidance of federal tax is not a principal purpose of the interest arrangement. Filelate com This exception does not apply to a term loan described in (2) earlier that previously has been subject to the below-market loan rules. Filelate com Those rules will continue to apply even if the outstanding balance is reduced to $10,000 or less. Filelate com Exception for loans to continuing care facilities. Filelate com   Loans to qualified continuing care facilities under continuing care contracts are not subject to the rules for below-market loans for the calendar year if the lender or the lender's spouse is age 62 or older at the end of the year. Filelate com For the definitions of qualified continuing care facility and continuing care contract, see Internal Revenue Code section 7872(h). Filelate com Exception for loans without significant tax effect. Filelate com   Loans are excluded from the below-market loan rules if their interest arrangements do not have a significant effect on the federal tax liability of the borrower or the lender. Filelate com These loans include: Loans made available by the lender to the general public on the same terms and conditions that are consistent with the lender's customary business practice; Loans subsidized by a federal, state, or municipal government that are made available under a program of general application to the public; Certain employee-relocation loans; Certain loans from a foreign person, unless the interest income would be effectively connected with the conduct of a U. Filelate com S. Filelate com trade or business and would not be exempt from U. Filelate com S. Filelate com tax under an income tax treaty; Gift loans to a charitable organization, contributions to which are deductible, if the total outstanding amount of loans between the organization and lender is $250,000 or less at all times during the tax year; and Other loans on which the interest arrangement can be shown to have no significant effect on the federal tax liability of the lender or the borrower. Filelate com For a loan described in (6) above, all the facts and circumstances are used to determine if the interest arrangement has a significant effect on the federal tax liability of the lender or borrower. Filelate com Some factors to be considered are: Whether items of income and deduction generated by the loan offset each other; The amount of these items; The cost to you of complying with the below-market loan rules, if they were to apply; and Any reasons other than taxes for structuring the transaction as a below-market loan. Filelate com If you structure a transaction to meet this exception and one of the principal purposes of that structure is the avoidance of federal tax, the loan will be considered a tax-avoidance loan, and this exception will not apply. Filelate com Limit on forgone interest for gift loans of $100,000 or less. Filelate com   For gift loans between individuals, if the outstanding loans between the lender and borrower total $100,000 or less, the forgone interest to be included in income by the lender and deducted by the borrower is limited to the amount of the borrower's net investment income for the year. Filelate com If the borrower's net investment income is $1,000 or less, it is treated as zero. Filelate com This limit does not apply to a loan if the avoidance of federal tax is one of the main purposes of the interest arrangement. Filelate com Effective dates. Filelate com    These rules apply to term loans made after June 6, 1984, and to demand loans outstanding after that date. Filelate com U. Filelate com S. Filelate com Savings Bonds This section provides tax information on U. Filelate com S. Filelate com savings bonds. Filelate com It explains how to report the interest income on these bonds and how to treat transfers of these bonds. Filelate com U. Filelate com S. Filelate com savings bonds currently offered to individuals include Series EE bonds and Series I bonds. Filelate com For other information on U. Filelate com S. Filelate com savings bonds, write to:  For Series HH/H: Bureau of the Fiscal Service Division of Customer Assistance P. Filelate com O. Filelate com Box 2186 Parkersburg, WV 26106-2186  For Series EE and I paper savings bonds: Bureau of the Fiscal Service Division of Customer Assistance P. Filelate com O. Filelate com Box 7012 Parkersburg, WV 26106-7012  For Series EE and I electronic bonds: Bureau of the Fiscal Service  Division of Customer Assistance P. Filelate com O. Filelate com Box 7015 Parkersburg, WV 26106-7015 Or, on the Internet, visit: www. Filelate com treasurydirect. Filelate com gov/indiv/indiv. Filelate com htm. Filelate com Accrual method taxpayers. Filelate com   If you use an accrual method of accounting, you must report interest on U. Filelate com S. Filelate com savings bonds each year as it accrues. Filelate com You cannot postpone reporting interest until you receive it or until the bonds mature. Filelate com Cash method taxpayers. Filelate com   If you use the cash method of accounting, as most individual taxpayers do, you generally report the interest on U. Filelate com S. Filelate com savings bonds when you receive it. Filelate com But see Reporting options for cash method taxpayers , later. Filelate com Series HH bonds. Filelate com   These bonds were issued at face value. Filelate com Interest is paid twice a year by direct deposit to your bank account. Filelate com If you are a cash method taxpayer, you must report interest on these bonds as income in the year you receive it. Filelate com   Series HH bonds were first offered in 1980 and last offered in August 2004. Filelate com Before 1980, series H bonds were issued. Filelate com Series H bonds are treated the same as series HH bonds. Filelate com If you are a cash method taxpayer, you must report the interest when you receive it. Filelate com   Series H bonds have a maturity period of 30 years. Filelate com Series HH bonds mature in 20 years. Filelate com The last series H bonds matured in 2009. Filelate com The last series HH bonds will mature in 2024. Filelate com Series EE and series I bonds. Filelate com   Interest on these bonds is payable when you redeem the bonds. Filelate com The difference between the purchase price and the redemption value is taxable interest. Filelate com Series EE bonds. Filelate com   Series EE bonds were first offered in January 1980 and have a maturity period of 30 years. Filelate com Before July 1980, series E bonds were issued. Filelate com The original 10-year maturity period of series E bonds has been extended to 40 years for bonds issued before December 1965 and 30 years for bonds issued after November 1965. Filelate com Paper series EE and series E bonds are issued at a discount. Filelate com The face value is payable to you at maturity. Filelate com Electronic series EE bonds are issued at their face value. Filelate com The face value plus accrued interest is payable to you at maturity. Filelate com As of January 1, 2012, paper savings bonds were no longer sold at financial institutions. Filelate com    Owners of paper series EE bonds can convert them to electronic bonds. Filelate com These converted bonds do not retain the denomination listed on the paper certificate but are posted at their purchase price (with accrued interest). Filelate com Series I bonds. Filelate com   Series I bonds were first offered in 1998. Filelate com These are inflation-indexed bonds issued at their face amount with a maturity period of 30 years. Filelate com The face value plus all accrued interest is payable to you at maturity. Filelate com Reporting options for cash method taxpayers. Filelate com   If you use the cash method of reporting income, you can report the interest on series EE, series E, and series I bonds in either of the following ways. Filelate com Method 1. Filelate com Postpone reporting the interest until the earlier of the year you cash or dispose of the bonds or the year in which they mature. Filelate com (However, see Savings bonds traded , later. Filelate com )  Note. Filelate com Series EE bonds issued in 1983 matured in 2013. Filelate com If you have used method 1, you generally must report the interest on these bonds on your 2013 return. Filelate com The last series E bonds were issued in 1980 and matured in 2010. Filelate com If you used method 1, you generally should have reported the interest on these bonds on your 2010 return. Filelate com Method 2. Filelate com Choose to report the increase in redemption value as interest each year. Filelate com  You must use the same method for all series EE, series E, and series I bonds you own. Filelate com If you do not choose method 2 by reporting the increase in redemption value as interest each year, you must use method 1. Filelate com If you plan to cash your bonds in the same year you will pay for higher educational expenses, you may want to use method 1 because you may be able to exclude the interest from your income. Filelate com To learn how, see Education Savings Bond Program, later. Filelate com Change from method 1. Filelate com   If you want to change your method of reporting the interest from method 1 to method 2, you can do so without permission from the IRS. Filelate com In the year of change, you must report all interest accrued to date and not previously reported for all your bonds. Filelate com   Once you choose to report the interest each year, you must continue to do so for all series EE, series E, and series I bonds you own and for any you get later, unless you request permission to change, as explained next. Filelate com Change from method 2. Filelate com   To change from method 2 to method 1, you must request permission from the IRS. Filelate com Permission for the change is automatically granted if you send the IRS a statement that meets all the following requirements. Filelate com You have typed or printed the following number at the top: “131. Filelate com ” It includes your name and social security number under “131. Filelate com ” It includes the year of change (both the beginning and ending dates). Filelate com It identifies the savings bonds for which you are requesting this change. Filelate com It includes your agreement to: Report all interest on any bonds acquired during or after the year of change when the interest is realized upon disposition, redemption, or final maturity, whichever is earliest; and Report all interest on the bonds acquired before the year of change when the interest is realized upon disposition, redemption, or final maturity, whichever is earliest, with the exception of the interest reported in prior tax years. Filelate com   You must attach this statement to your tax return for the year of change, which you must file by the due date (including extensions). Filelate com   You can have an automatic extension of 6 months from the due date of your return for the year of change (excluding extensions) to file the statement with an amended return. Filelate com On the statement, type or print “Filed pursuant to section 301. Filelate com 9100-2. Filelate com ” To get this extension, you must have filed your original return for the year of the change by the due date (including extensions). Filelate com    By the date you file the original statement with your return, you must also send a signed copy to the address below. Filelate com    Internal Revenue Service Attention: CC:IT&A (Automatic Rulings Branch) P. Filelate com O. Filelate com Box 7604 Benjamin Franklin Station Washington, DC 20044   If you use a private delivery service, send the signed copy to the address below. Filelate com Internal Revenue Service Attention: CC:IT&A  (Automatic Rulings Branch) Room 5336 1111 Constitution Avenue, NW Washington, DC 20224    Instead of filing this statement, you can request permission to change from method 2 to method 1 by filing Form 3115. Filelate com In that case, follow the form instructions for an automatic change. Filelate com No user fee is required. Filelate com Co-owners. Filelate com   If a U. Filelate com S. Filelate com savings bond is issued in the names of co-owners, such as you and your child or you and your spouse, interest on the bond is generally taxable to the co-owner who bought the bond. Filelate com One co-owner's funds used. Filelate com   If you used your funds to buy the bond, you must pay the tax on the interest. Filelate com This is true even if you let the other co-owner redeem the bond and keep all the proceeds. Filelate com Under these circumstances, the co-owner who redeemed the bond will receive a Form 1099-INT at the time of redemption and must provide you with another Form 1099-INT showing the amount of interest from the bond taxable to you. Filelate com The co-owner who redeemed the bond is a “nominee. Filelate com ” See Nominee distributions under How To Report Interest Income, later, for more information about how a person who is a nominee reports interest income belonging to another person. Filelate com Both co-owners' funds used. Filelate com   If you and the other co-owner each contribute part of the bond's purchase price, the interest is generally taxable to each of you, in proportion to the amount each of you paid. Filelate com Community property. Filelate com   If you and your spouse live in a community property state and hold bonds as community property, one-half of the interest is considered received by each of you. Filelate com If you file separate returns, each of you generally must report one-half of the bond interest. Filelate com For more information about community property, see Publication 555. Filelate com Table 1-2. Filelate com   These rules are also shown in Table 1-2. Filelate com Child as only owner. Filelate com   Interest on U. Filelate com S. Filelate com savings bonds bought for and registered only in the name of your child is income to your child, even if you paid for the bonds and are named as beneficiary. Filelate com If the bonds are series EE, series E, or series I bonds, the interest on the bonds is income to your child in the earlier of the year the bonds are cashed or disposed of or the year the bonds mature, unless your child chooses to report the interest income each year. Filelate com Choice to report interest each year. Filelate com   The choice to report the accrued interest each year can be made either by your child or by you for your child. Filelate com This choice is made by filing an income tax return that shows all the interest earned to date, and by stating on the return that your child chooses to report the interest each year. Filelate com Either you or your child should keep a copy of this return. Filelate com   Unless your child is otherwise required to file a tax return for any year after making this choice, your child does not have to file a return only to report the annual accrual of U. Filelate com S. Filelate com savings bond interest under this choice. Filelate com However, see Tax on unearned income of certain children , earlier, under General Information. Filelate com Neither you nor your child can change the way you report the interest unless you request permission from the IRS, as discussed earlier under Change from method 2 . Filelate com Ownership transferred. Filelate com   If you bought series E, series EE, or series I bonds entirely with your own funds and had them reissued in your co-owner's name or beneficiary's name alone, you must include in your gross income for the year of reissue all interest that you earned on these bonds and have not previously reported. Filelate com But, if the bonds were reissued in your name alone, you do not have to report the interest accrued at that time. Filelate com   This same rule applies when bonds (other than bonds held as community property) are transferred between spouses or incident to divorce. Filelate com Example. Filelate com You bought series EE bonds entirely with your own funds. Filelate com You did not choose to report the accrued interest each year. Filelate com Later, you transfer the bonds to your former spouse under a divorce agreement. Filelate com You must include the deferred accrued interest, from the date of the original issue of the bonds to the date of transfer, in your income in the year of transfer. Filelate com Your former spouse includes in income the interest on the bonds from the date of transfer to the date of redemption. Filelate com Table 1-2. Filelate com Who Pays the Tax on U. Filelate com S. Filelate com Savings Bond Interest IF . Filelate com . Filelate com . Filelate com THEN the interest must be reported by . Filelate com . Filelate com . Filelate com you buy a bond in your name and the name of another person as co-owners, using only your own funds you. Filelate com you buy a bond in the name of another person, who is the sole owner of the bond the person for whom you bought the bond. Filelate com you and another person buy a bond as co-owners, each contributing part of the purchase price both you and the other co-owner, in proportion to the amount each paid for the bond. Filelate com you and your spouse, who live in a community property state, buy a bond that is community property you and your spouse. Filelate com If you file separate returns, both you and your spouse generally report one-half of the interest. Filelate com Purchased jointly. Filelate com   If you and a co-owner each contributed funds to buy series E, series EE, or series I bonds jointly and later have the bonds reissued in the co-owner's name alone, you must include in your gross income for the year of reissue your share of all the interest earned on the bonds that you have not previously reported. Filelate com The former co-owner does not have to include in gross income at the time of reissue his or her share of the interest earned that was not reported before the transfer. Filelate com This interest, however, as well as all interest earned after the reissue, is income to the former co-owner. Filelate com   This income-reporting rule also applies when the bonds are reissued in the name of your former co-owner and a new co-owner. Filelate com But the new co-owner will report only his or her share of the interest earned after the transfer. Filelate com   If bonds that you and a co-owner bought jointly are reissued to each of you separately in the same proportion as your contribution to the purchase price, neither you nor your co-owner has to report at that time the interest earned before the bonds were reissued. Filelate com Example 1. Filelate com You and your spouse each spent an equal amount to buy a $1,000 series EE savings bond. Filelate com The bond was issued to you and your spouse as co-owners. Filelate com You both postpone reporting interest on the bond. Filelate com You later have the bond reissued as two $500 bonds, one in your name and one in your spouse's name. Filelate com At that time neither you nor your spouse has to report the interest earned to the date of reissue. Filelate com Example 2. Filelate com You bought a $1,000 series EE savings bond entirely with your own funds. Filelate com The bond was issued to you and your spouse as co-owners. Filelate com You both postponed reporting interest on the bond. Filelate com You later have the bond reissued as two $500 bonds, one in your name and one in your spouse's name. Filelate com You must report half the interest earned to the date of reissue. Filelate com Transfer to a trust. Filelate com   If you own series E, series EE, or series I bonds and transfer them to a trust, giving up all rights of ownership, you must include in your income for that year the interest earned to the date of transfer if you have not already reported it. Filelate com However, if you are considered the owner of the trust and if the increase in value both before and after the transfer continues to be taxable to you, you can continue to defer reporting the interest earned each year. Filelate com You must include the total interest in your income in the year you cash or dispose of the bonds or the year the bonds finally mature, whichever is earlier. Filelate com   The same rules apply to previously unreported interest on series EE or series E bonds if the transfer to a trust consisted of series HH or series H bonds you acquired in a trade for the series EE or series E bonds. Filelate com See Savings bonds traded , later. Filelate com Decedents. Filelate com   The manner of reporting interest income on series E, series EE, or series I bonds, after the death of the owner (decedent), depends on the accounting and income-reporting methods previously used by the decedent. Filelate com Decedent who reported interest each year. Filelate com   If the bonds transferred because of death were owned by a person who used an accrual method, or who used the cash method and had chosen to report the interest each year, the interest earned in the year of death up to the date of death must be reported on that person's final return. Filelate com The person who acquires the bonds includes in income only interest earned after the date of death. Filelate com Decedent who postponed reporting interest. Filelate com   If the transferred bonds were owned by a decedent who had used the cash method and had not chosen to report the interest each year, and who had bought the bonds entirely with his or her own funds, all interest earned before death must be reported in one of the following ways. Filelate com The surviving spouse or personal representative (executor, administrator, etc. Filelate com ) who files the final income tax return of the decedent can choose to include on that return all interest earned on the bonds before the decedent's death. Filelate com The person who acquires the bonds then includes in income only interest earned after the date of death. Filelate com If the choice in (1) is not made, the interest earned up to the date of death is income in respect of the decedent and should not be included in the decedent's final return. Filelate com All interest earned both before and after the decedent's death (except any part reported by the estate on its income tax return) is income to the person who acquires the bonds. Filelate com If that person uses the cash method and does not choose to report the interest each year, he or she can postpone reporting it until the year the bonds are cashed or disposed of or the year they mature, whichever is earlier. Filelate com In the year that person reports the interest, he or she can claim a deduction for any federal estate tax paid on the part of the interest included in the decedent's estate. Filelate com For more information on income in respect of a decedent, see Publication 559, Survivors, Executors, and Administrators. Filelate com Example 1. Filelate com Your uncle, a cash method taxpayer, died and left you a $1,000 series EE bond. Filelate com He had bought the bond for $500 and had not chosen to report the interest each year. Filelate com At the date of death, interest of $200 had accrued on the bond, and its value of $700 was included in your uncle's estate. Filelate com Your uncle's executor chose not to include the $200 accrued interest in your uncle's final income tax return. Filelate com The $200 is income in respect of the decedent. Filelate com You are a cash method taxpayer and do not choose to report the interest each year as it is earned. Filelate com If you cash the bond when it reaches maturity value of $1,000, you report $500 interest income—the difference between maturity value of $1,000 and the original cost of $500. Filelate com For that year, you can deduct (as a miscellaneous itemized deduction not subject to the 2%-of-adjusted-gross-income limit) any federal estate tax paid because the $200 interest was included in your uncle's estate. Filelate com Example 2. Filelate com If, in Example 1 , the executor had chosen to include the $200 accrued interest in your uncle's final return, you would report only $300 as interest when you cashed the bond at maturity. Filelate com $300 is the interest earned after your uncle's death. Filelate com Example 3. Filelate com If, in Example 1 , you make or have made the choice to report the increase in redemption value as interest each year, you include in gross income for the year you acquire the bond all of the unreported increase in value of all series E, series EE, and series I bonds you hold, including the $200 on the bond you inherited from your uncle. Filelate com Example 4. Filelate com When your aunt died, she owned series HH bonds that she had acquired in a trade for series EE bonds. Filelate com You were the beneficiary of these bonds. Filelate com Your aunt used the cash method and did not choose to report the interest on the series EE bonds each year as it accrued. Filelate com Your aunt's executor chose not to include any interest earned before your aunt's death on her final return. Filelate com The income in respect of the decedent is the sum of the unreported interest on the series EE bonds and the interest, if any, payable on the series HH bonds but not received as of the date of your aunt's death. Filelate com You must report any interest received during the year as income on your return. Filelate com The part of the interest payable but not received before your aunt's death is income in respect of the decedent and may qualify for the estate tax deduction. Filelate com For information on when to report the interest on the series EE bonds traded, see Savings bonds traded , later. Filelate com Savings bonds distributed from a retirement or profit-sharing plan. Filelate com   If you acquire a U. Filelate com S. Filelate com savings bond in a taxable distribution from a retirement or profit-sharing plan, your income for the year of distribution includes the bond's redemption value (its cost plus the interest accrued before the distribution). Filelate com When you redeem the bond (whether in the year of distribution or later), your interest income includes only the interest accrued after the bond was distributed. Filelate com To figure the interest reported as a taxable distribution and your interest income when you redeem the bond, see Worksheet for savings bonds distributed from a retirement or profit-sharing plan under How To Report Interest Income, later. Filelate com Savings bonds traded. Filelate com   If you postponed reporting the interest on your series EE or series E bonds, you did not recognize taxable income when you traded the bonds for series HH or series H bonds, unless you received cash in the trade. Filelate com (You cannot trade series I bonds for series HH bonds. Filelate com After August 31, 2004, you cannot trade any other series of bonds for series HH bonds. Filelate com ) Any cash you received is income up to the amount of the interest earned on the bonds traded. Filelate com When your series HH or series H bonds mature, or if you dispose of them before maturity, you report as interest the difference between their redemption value and your cost. Filelate com Your cost is the sum of the amount you paid for the traded series EE or series E bonds plus any amount you had to pay at the time of the trade. Filelate com Example. Filelate com You traded series EE bonds (on which you postponed reporting the interest) for $2,500 in series HH bonds and $223 in cash. Filelate com You reported the $223 as taxable income on your tax return. Filelate com At the time of the trade, the series EE bonds had accrued interest of $523 and a redemption value of $2,723. Filelate com You hold the series HH bonds until maturity, when you receive $2,500. Filelate com You must report $300 as interest income in the year of maturity. Filelate com This is the difference between their redemption value, $2,500, and your cost, $2,200 (the amount you paid for the series EE bonds). Filelate com (It is also the difference between the accrued interest of $523 on the series EE bonds and the $223 cash received on the trade. Filelate com ) Choice to report interest in year of trade. Filelate com   You could have chosen to treat all of the previously unreported accrued interest on series EE or series E bonds traded for series HH bonds as income in the year of the trade. Filelate com If you made this choice, it is treated as a change from method 1. Filelate com See Change from method 1 under Series EE and series I bonds, earlier. Filelate com Form 1099-INT for U. Filelate com S. Filelate com savings bond interest. Filelate com   When you cash a bond, the bank or other payer that redeems it must give you a Form 1099-INT if the interest part of the payment you receive is $10 or more. Filelate com Box 3 of your Form 1099-INT should show the interest as the difference between the amount you received and the amount paid for the bond. Filelate com However, your Form 1099-INT may show more interest than you have to include on your income tax return. Filelate com For example, this may happen if any of the following are true. Filelate com You chose to report the increase in the redemption value of the bond each year. Filelate com The interest shown on your Form 1099-INT will not be reduced by amounts previously included in income. Filelate com You received the bond from a decedent. Filelate com The interest shown on your Form 1099-INT will not be reduced by any interest reported by the decedent before death, or on the decedent's final return, or by the estate on the estate's income tax return. Filelate com Ownership of the bond was transferred. Filelate com The interest shown on your Form 1099-INT will not be reduced by interest that accrued before the transfer. Filelate com You were named as a co-owner, and the other co-owner contributed funds to buy the bond. Filelate com The interest shown on your Form 1099-INT will not be reduced by the amount you received as nominee for the other co-owner. Filelate com (See Co-owners , earlier in this section, for more information about the reporting requirements. Filelate com ) You received the bond in a taxable distribution from a retirement or profit-sharing plan. Filelate com The interest shown on your Form 1099-INT will not be reduced by the interest portion of the amount taxable as a distribution from the plan and not taxable as interest. Filelate com (This amount is generally shown on Form 1099-R, Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. Filelate com , for the year of distribution. Filelate com )   For more information on including the correct amount of interest on your return, see U. Filelate com S. Filelate com savings bond interest previously reported or Nominee distributions under How To Report Interest Income, later. Filelate com    Interest on U. Filelate com S. Filelate com savings bonds is exempt from state and local taxes. Filelate com The Form 1099-INT you receive will indicate the amount that is for U. Filelate com S. Filelate com savings bonds interest in box 3. Filelate com Do not include this income on your state or local income tax return. Filelate com Education Savings Bond Program You may be able to exclude from income all or part of the interest you receive on the redemption of qualified U. Filelate com S. Filelate com savings bonds during the year if you pay qualified higher educational expenses during the same year. Filelate com This exclusion is known as the Education Savings Bond Program. Filelate com You do not qualify for this exclusion if your filing status is married filing separately. Filelate com Form 8815. Filelate com   Use Form 8815 to figure your exclusion. Filelate com Attach the form to your Form 1040 or Form 1040A. Filelate com Qualified U. Filelate com S. Filelate com savings bonds. Filelate com   A qualified U. Filelate com S. Filelate com savings bond is a series EE bond issued after 1989 or a series I bond. Filelate com The bond must be issued either in your name (sole owner) or in your and your spouse's names (co-owners). Filelate com You must be at least 24 years old before the bond's issue date. Filelate com For example, a bond bought by a parent and issued in the name of his or her child under age 24 does not qualify for the exclusion by the parent or child. Filelate com    The issue date of a bond may be earlier than the date the bond is purchased because the issue date assigned to a bond is the first day of the month in which it is purchased. Filelate com Beneficiary. Filelate com   You can designate any individual (including a child) as a beneficiary of the bond. Filelate com Verification by IRS. Filelate com   If you claim the exclusion, the IRS will check it by using bond redemption information from the Department of Treasury. Filelate com Qualified expenses. Filelate com   Qualified higher educational expenses are tuition and fees required for you, your spouse, or your dependent (for whom you claim an exemption) to attend an eligible educational institution. Filelate com   Qualified expenses include any contribution you make to a qualified tuition program or to a Coverdell education savings account. Filelate com For information about these programs, see Publication 970, Tax Benefits for Education. Filelate com   Qualified expenses do not include expenses for room and board or for courses involving sports, games, or hobbies that are not part of a degree or certificate granting program. Filelate com Eligible educational institutions. Filelate com   These institutions include most public, private, and nonprofit universities, colleges, and vocational schools that are accredited and eligible to participate in student aid programs run by the Department of Education. Filelate com Reduction for certain benefits. Filelate com   You must reduce your qualified higher educational expenses by all of the following tax-free benefits. Filelate com Tax-free part of scholarships and fellowships. Filelate com Expenses used to figure the tax-free portion of distributions from a Coverdell ESA. Filelate com Expenses used to figure the tax-free portion of distributions from a qualified tuition program. Filelate com Any tax-free payments (other than gifts or inheritances) received as educational assistance, such as: Veterans' educational assistance benefits, Qualified tuition reductions, or Employer-provided educational assistance. Filelate com Any expense used in figuring the American Opportunity and lifetime learning credits. Filelate com For information about these benefits, see Publication 970. Filelate com Amount excludable. Filelate com   If the total proceeds (interest and principal) from the qualified U. Filelate com S. Filelate com savings bonds you redeem during the year are not more than your adjusted qualified higher educational expenses for the year, you may be able to exclude all of the interest. Filelate com If the proceeds are more than the expenses, you may be able to exclude only part of the interest. Filelate com   To determine the excludable amount, multiply the interest part of the proceeds by a fraction. Filelate com The numer
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Publication 15 (Circular E), Employer's Tax Guide

This publication explains your tax responsibilities as an employer. 


Current Products


Recent Developments

Reminder for Employers: No Federal Income Tax Withholding on Disability Payments for Injuries Incurred as a Direct Result of a Terrorist Attack Directed Against the United States -- 04-FEB-2014

Answers to Frequently Asked Questions for Individuals of the Same Sex Who Are Married Under State Law

Notice 2013-61, Application of Windsor Decision and Revenue Ruling 2013–17 to Employment Taxes and Special Administrative Procedures for Employers to Make Adjustments or Claims for Refund or Credit

Revenue Ruling 2013-17, This revenue ruling determines the status of individuals of the same-sex who are lawfully married under the laws of a state that recognizes such marriages for Federal tax purposes.


Other Items You May Find Useful:


Comment on Publication 15

Use the Comment on Tax Forms and Publications web form to provide feedback on the content of this product. Although we cannot respond individually to each comment, we do appreciate your feedback and will consider all comments submitted.

CAUTION: We cannot respond to tax-related questions submitted using this page. Instead, please visit Tax Law Questions or call our toll-free number at 1-800-829-1040 (Individuals) or 1-800-829-4933 (Business).

Page Last Reviewed or Updated: 05-Feb-2014

The Filelate Com

Filelate com Index Symbols (ITIN), Filers who have certain child dependents with an Individual Taxpayer Identification Number (ITIN). Filelate com 10% tax for early withdrawal from IRA or retirement plan (see Early withdrawal from deferred interest account, subheading: Tax on) 10-year tax option, 10-Year Tax Option 401(k) plans Tax treatment of contributions, Elective deferrals. Filelate com 403(b) plans Rollovers, Rollovers, Rollover From Employer's Plan Into an IRA, Rollover from a qualified retirement plan into a Roth IRA. Filelate com 457 plans (see Section 457 deferred compensation plans) 529 plans (see Qualified tuition programs) 59 rule, Age 59½ rule. Filelate com 60 day rule, Time limit for making a rollover contribution. Filelate com 70 rule, Age 70½ rule. Filelate com , Nonresident alien spouse. Filelate com A Abandonment of home, Abandonment. Filelate com Abortion Deductibility as medical expense, Table 21-1. Filelate com Medical and Dental Expenses Checklist. Filelate com See Publication 502 for more information about these and other expenses. Filelate com Abroad, citizens traveling or working, Employees of foreign governments or international organizations. Filelate com , Foreign Employer, Travel Outside the United States, Travel Primarily for Business (see also Citizens outside U. Filelate com S. Filelate com ) (see also Foreign employment) Absence, temporary, Temporary absences. Filelate com , Temporary absences. Filelate com Accelerated death benefits, Accelerated Death Benefits, Exclusion for terminal illness. Filelate com Accident insurance, Accident or Health Plan Cafeteria plans, Cafeteria plans. Filelate com Long-term care, Long-term care coverage. Filelate com , Long-Term Care Insurance Contracts Accidental death benefits, Accidental death benefits. Filelate com Accidents, car, Deductible losses. Filelate com Value determination, Car value. Filelate com Willful negligence or intentional act as cause, Nondeductible losses. Filelate com Accountable plans for employee reimbursements, Accountable Plans, Related to employer. Filelate com Accountants Basis to include fees of, Cost Basis CPA review courses, Bar or CPA Review Course Accounting methods, Accounting Methods Accrual method (see Accrual method taxpayers) Cash method (see Cash method taxpayers) Change of Depreciation, to deduct unclaimed amount, Changing your accounting method to deduct unclaimed depreciation. Filelate com Accounting periods, Accounting Periods Calendar year, When Do I Have To File?, Accounting Periods, Accounting period. Filelate com Change in, standard deduction not allowed, Persons not eligible for the standard deduction. Filelate com Fiscal year, Accounting Periods, Fiscal year taxpayers. Filelate com , Fiscal Years Fringe benefits, Accounting period. Filelate com Accrual method taxpayers, Accrual method. Filelate com Taxes paid during tax year, deduction of, You must pay the tax during your tax year. Filelate com Accumulation distribution of trusts Tax on, Other taxes. Filelate com Accuracy-related penalties, Accuracy-related penalty. Filelate com Acknowledgment, Acknowledgment. Filelate com Activities not for profit, Activity not for profit. Filelate com Address, Name and Address Change of, Change of Address Foreign, Foreign address. Filelate com P. Filelate com O. Filelate com box, P. Filelate com O. Filelate com box. Filelate com Address, filing, Where To File Adjusted basis, Adjusted Basis, Postponed gain from sale of home. Filelate com Decreases to basis, Decreases to Basis Depreciation, Depreciation and section 179 deduction. Filelate com Easements, Easements. Filelate com Energy conservation subsidies exclusion, Exclusion of subsidies for energy conservation measures. Filelate com Gifts, Property Received as a Gift Home sale (see Sale of home) Improvements, Improvements. Filelate com Increases to basis, Increases to Basis Local assessments, Assessments for local improvements. Filelate com Sales of property, Adjusted basis. Filelate com Section 179 deduction, Depreciation and section 179 deduction. Filelate com Adjusted gross income (AGI) Medical and dental expenses and limit of deduction, How Much of the Expenses Can You Deduct?, What Tax Form Do You Use? Retirement savings contribution credit, Special Rules Adjustments, Adjustments and tax preference items. Filelate com Administrators, estate (see Executors and administrators) Adopted child, Exception for adopted child. Filelate com , Adopted child. Filelate com , Adopted child. Filelate com , Taxpayer identification numbers for adoptees. Filelate com Earned income credit, Adopted child. Filelate com Adoption, Adoption Credit, Child with special needs. Filelate com ATIN, Adoption taxpayer identification number (ATIN). Filelate com , Adoption taxpayer identification number (ATIN). Filelate com Child tax credit, Adopted child. Filelate com (see also Child tax credit) Credits, Personal Expenses Married filing separately, Special Rules Taking, When to take the credit. Filelate com Employer assistance, Adoption Assistance Exception for adopted child, Exception for adopted child. Filelate com Exemption for child, Personal Expenses Expenses not deductible Foster care prior to, no charitable deduction, Foster parents. Filelate com No charitable deduction for, Personal Expenses Foreign child, Foreign child. Filelate com Medical and dental expenses of adopted child, Qualifying Child Taxpayer identification number, Adoption taxpayer identification number (ATIN). Filelate com , Taxpayer identification numbers for aliens. Filelate com Taxpayer identification numbers (TINs), Adoption taxpayer identification number (ATIN). Filelate com Age Children's investments (see Children, subheading: Investment income of child under age 18) Form 1040EZ, taxpayer under 65 may use, You can use Form 1040EZ if all of the following apply. Filelate com Gross income and filing requirements (Table 1-1), Introduction IRAs Contribution cutoff at age 70, Age 70½ rule. Filelate com Distribution prior to age 59, Age 59½ rule. Filelate com Distribution required at age 70, IRA owners. Filelate com , Excess Accumulations (Insufficient Distributions) Pension distributions required at age 70, Age 70½. Filelate com Retirement plan recipients over age 75, Who must use the General Rule. Filelate com Roth IRAs, Is there an age limit for contributions?, Must you withdraw or use Roth IRA assets? Standard deduction for age 65 or older, Higher Standard Deduction for Age (65 or Older) Age test, Age Test (see Qualifying child) Agents, Losses on sales or trades of property. Filelate com (see also Fiduciaries) Income paid to, Payment to an agent. Filelate com Signing return, When someone can sign for you. Filelate com AGI (see Adjusted gross income (AGI)) Agricultural workers (see Farmers) (see Farmworkers) Agriculture (see Farming) Aircraft Charitable gift of, deduction for fair market value, Cars, boats, and airplanes. Filelate com Airline club dues Not entertainment expenses, Club dues and membership fees. Filelate com Airplanes, donations of, Cars, boats, and airplanes. Filelate com Airport transportation Business-related travel expense, Table 26-1. Filelate com Travel Expenses You Can Deduct This chart summarizes expenses you can deduct when you travel away from home for business purposes. Filelate com Alaska Standard meal allowance, Standard meal allowance for areas outside the continental United States. Filelate com Alaska Permanent Fund dividends, Alaska Permanent Fund dividend. Filelate com Child's dividends, Child's Alaska Permanent Fund dividends. Filelate com Income from, You can use Form 1040EZ if all of the following apply. Filelate com , You can use Form 1040A if all of the following apply. Filelate com , Alaska Permanent Fund dividends. Filelate com Investment income not to include, Investment income. Filelate com Alaska Unemployment Compensation Fund, Contributions to state benefit funds. Filelate com Alcohol rehabilitation centers Deductibility of medical expense, Table 21-1. Filelate com Medical and Dental Expenses Checklist. Filelate com See Publication 502 for more information about these and other expenses. Filelate com Alcoholic beverages IRA prohibited transactions in, Collectibles. Filelate com Aliens, Individual taxpayer identification number (ITIN) for aliens. Filelate com , Not earned income. Filelate com Dual-status (see Dual-status taxpayers) Filing required, Aliens Nonresident (see Nonresident aliens) Resident (see Resident aliens) Alimony, Alimony, Introduction, Spouse or former spouse. Filelate com , Payments not alimony. Filelate com , Payments to a third party. Filelate com , Life insurance premiums. Filelate com , Payments for jointly-owned home. Filelate com , Mortgage payments. Filelate com , Taxes and insurance. Filelate com , Other payments to a third party. Filelate com , Instruments Executed After 1984, Exception for instruments executed before 1985. Filelate com , Alimony requirements. Filelate com , Cash payment requirement. Filelate com , Payments to a third party. Filelate com , Payments designated as not alimony. Filelate com , Spouses cannot be members of the same household. Filelate com , Liability for payments after death of recipient spouse. Filelate com , Substitute payments. Filelate com , How To Deduct Alimony Paid, How To Report Alimony Received, Recapture Rule, Including the recapture in income. Filelate com , Deducting the recapture. Filelate com Definition of, Introduction Mortgage payments Interest deduction, Divorced or separated individuals. Filelate com Reporting of income, Alimony. Filelate com Alternative filing methods Electronic (see E-file ) Alternative minimum tax (AMT), Alternative Minimum Tax (AMT) Child's tax, figuring of, Alternative minimum tax. Filelate com Exempt-interest dividends, Alternative minimum tax treatment. Filelate com Filing requirements (Table 1-3), Figuring tax. Filelate com Incentive stock option, You can use Form 1040A if all of the following apply. Filelate com Nonrefundable credit for prior year tax, Nonrefundable Credit for Prior Year Minimum Tax Alternative motor vehicle credit, Alternative Motor Vehicle Credit, Amount of credit. Filelate com Ambulance service personnel Life insurance proceeds when death in line of duty, Public Safety Officer Killed in the Line of Duty Amended returns, Amended Returns and Claims for Refund, Form 1040X. Filelate com , Filing Form 1040X. Filelate com (see also Form 1040X) Itemized deduction, change to standard deduction, Changing your mind. Filelate com Standard deduction, change to itemized deductions, Changing your mind. Filelate com American citizens abroad, U. Filelate com S. Filelate com Citizens and Resident Aliens Living Abroad (see also Citizens outside U. Filelate com S. Filelate com ) Employment (see Foreign employment) American Indians (see Indians) American opportunity credit Tuition deduction and, Who Cannot Claim the Deduction American Samoa Income from, Individuals With Income From U. Filelate com S. Filelate com Possessions Amortization Bond premiums, treatment of, Amortization of bond premium. Filelate com AMT (see Alternative minimum tax (AMT)) Annuities, Rollovers (see also Rollovers) Cost computation, Cost (Investment in the Contract) Decedent's unrecovered investment in, Form W-2. Filelate com Early distributions from, Tax on Early Distributions Deferred annuity contracts, 5% rate on certain early distributions from deferred annuity contracts. Filelate com , Additional exceptions for nonqualified annuity contracts. Filelate com Estimated tax, Withholding and estimated tax. Filelate com Exclusion limit, Exclusion limit. Filelate com General Rule Annuity starting before November 19, 1996, Annuity starting before November 19, 1996. Filelate com Nonqualified plans and qualified plans for recipients over 75 years, Who must use the General Rule. Filelate com Purchased annuities, Purchased annuities. Filelate com Survivor's annuity, Survivors of retirees. Filelate com Guaranteed payments, Guaranteed payments. Filelate com IRAs as, Kinds of traditional IRAs. Filelate com Joint return, Joint return. Filelate com Loans from plan, Loans. Filelate com Lump-sum distributions, Lump-Sum Distributions Multiple plan benefits, More than one program. Filelate com , More than one annuity. Filelate com Partly taxable payments, Partly taxable payments. Filelate com Purchased annuities, Purchased annuities. Filelate com Reporting of, How To Report Retirement annuities, Retirement Plans, Pensions, and Annuities (see also Retirement plans) Rollovers, Rollovers Sale of, Sale of Annuity Gain as ordinary income, Tax-free exchange. Filelate com Simplified method to calculate tax-free part of annuity payment, Simplified Method Survivor's annuity, Survivors of retirees. Filelate com Worksheet for computation, How to use the Simplified Method. Filelate com Survivor annuities, Survivors and Beneficiaries Trade of insurance policies and annuities, Insurance policies and annuities. Filelate com Unrecovered investment, Unrecovered Investment in Annuity Withholding, Form W-2. Filelate com , Pensions and Annuities, Withholding and estimated tax. Filelate com Annulled marriages Filing status, Annulled marriages. Filelate com Anthrax incidents (see Terrorist attacks) Antiques (see Collectibles) Appliances Deterioration and damage, not casualty loss, Progressive deterioration. Filelate com Appraisal fees, Appraisal Fees Donated property, Appraisal Fees Not deductible as interest, Amounts charged for services. Filelate com Real estate transactions, when required by lender, Settlement costs. Filelate com Appraisals Casualty or theft losses, Appraisal. Filelate com , Costs of photographs and appraisals. Filelate com Archer MSAs, Medical savings accounts (MSAs). Filelate com Contributions, Archer MSA contributions. Filelate com Medical expenses paid for decedent from, Decedent Not deductible as medical expense, Table 21-1. Filelate com Medical and Dental Expenses Checklist. Filelate com See Publication 502 for more information about these and other expenses. Filelate com Armed forces, Types of Qualified Organizations, Table 24-1. Filelate com Examples of Charitable Contributions—A Quick Check, Armed Forces reservists. Filelate com (see also Reservists) (see also Veterans' organizations) Combat zone Extension to file return, Individuals Serving in Combat Zone Signing return for spouse, Spouse in combat zone. Filelate com Dependency allotments, Armed Forces dependency allotments. Filelate com Disability pay, Disability. Filelate com Disability pensions, Military and Government Disability Pensions GI Bill benefits, Tuition payments and allowances under the GI Bill. Filelate com Military, Military uniforms. Filelate com Military quarters allotments, Tax-exempt military quarters allowances. Filelate com Naval officers on permanent duty aboard ship, Members of the Armed Forces. Filelate com Permanent duty overseas, Members of the Armed Forces. Filelate com Real estate taxes when receiving housing allowance, Ministers' and military housing allowances. Filelate com , Ministers' and military housing allowance. Filelate com Rehabilitative program payments, Veterans' benefits. Filelate com Reserves, Armed Forces reservists traveling more than 100 miles from home. Filelate com Retirees' pay Taxable income, Military retirement pay. Filelate com Uniforms, Military uniforms. Filelate com Wages, Military Armed Forces Retiree's pay withholding, Military retirees. Filelate com Art works As capital assets, Capital Assets and Noncapital Assets, Gold, silver, stamps, coins, gems, etc. Filelate com Capital gains or losses from sale or trade of, Investment interest deducted. Filelate com Artists, performing (see Performing artists) Assessments, local (see Local assessments) Assistance (see Tax help) Assistance, tax (see Tax help) Assumption of mortgage, Assumption of mortgage. Filelate com Fees not included in basis, Settlement costs. Filelate com At-risk rules Rental property, At-Risk Rules Athletic events Charitable contributions, amount deductible, Athletic events. Filelate com ATIN (Adoption taxpayer identification number), Adoption taxpayer identification number (ATIN). Filelate com Attachment of wages, Garnisheed wages. Filelate com Attachments to return, Attachments Attorneys Bar review courses, Bar or CPA Review Course Attorneys' fees, Legal Expenses, Personal Legal Expenses Basis to include, Cost Basis Social security and railroad retirement benefits, deductions for, Legal expenses. Filelate com Title to property, for preparation, filing, etc. Filelate com , Settlement costs. Filelate com Audits Travel expense records, If your return is examined. Filelate com Auto insurance Medical expenses covered by, not deductible, Table 21-1. Filelate com Medical and Dental Expenses Checklist. Filelate com See Publication 502 for more information about these and other expenses. Filelate com Automatic extension of time to file, Automatic Extension, When to file. Filelate com Form 4868, E-file options. Filelate com Automatic investment services Holding period, determination of, Automatic investment service. Filelate com Awards (see Prizes and awards) Away-from-home travel (see Travel and transportation expenses) B Babysitting, Babysitting. Filelate com Back pay, award for, Back pay awards. Filelate com Emotional distress damages under title VII of Civil Rights Act of 1964, Court awards and damages. Filelate com Backup withholding, Backup Withholding, Backup withholding. Filelate com , Backup withholding. Filelate com Dividend income, Backup withholding. Filelate com , Reporting tax withheld. Filelate com Penalties, Penalties. Filelate com Bad debts Bank deposit, loss due to bank's insolvency or bankruptcy, Nonbusiness bad debt. Filelate com Reporting on Schedule D (Form 1040), How to report. Filelate com Claim for refund, Exceptions for special types of refunds. Filelate com , Filing a claim for refund. Filelate com Nonbusiness, Nonbusiness Bad Debts Recovery, Recoveries Reporting of, How to report bad debts. Filelate com Short-term capital loss, How to report bad debts. Filelate com When deductible, When deductible. Filelate com Baggage Business-related travel expense, Table 26-1. Filelate com Travel Expenses You Can Deduct This chart summarizes expenses you can deduct when you travel away from home for business purposes. Filelate com Balance due, Refund or balance due. Filelate com Bankruptcy Canceled debt not deemed to be income, Excluded debt. Filelate com Financial institution's bankruptcy causing deductible loss, Loss on Deposits Reporting of, Loss on deposits. Filelate com Banks Automatic investment service, determination of holding period, Automatic investment service. Filelate com IRAs with, When and How Can a Traditional IRA Be Opened? Losses on deposits, when casualty losses, Deposit in Insolvent or Bankrupt Financial Institution, Loss on Deposits Reporting of, Loss on deposits. Filelate com Money market accounts, Money Market Funds Bar associations Charitable contributions to, Contributions to Nonqualified Organizations Bar employees Tips (see Tip income) Bar review courses, Bar or CPA Review Course Bargain sales As charitable contributions, Bargain sales. Filelate com Basis of purchase, Bargain purchases. Filelate com Barter income, Bartering Definition of bartering, Bartering Form 1099-B, Form 1099-B from barter exchange. Filelate com Basis Adjusted basis, Adjusted Basis Allocation between business and personal use, Introduction Bad debts, Basis in bad debt required. Filelate com Bargain purchases, Bargain purchases. Filelate com Bonds, Stocks and Bonds, Bond premium. Filelate com Cost basis, Useful Items - You may want to see: IRAs for nondeductible contributions, Cost basis. Filelate com , Partly taxable. Filelate com Definition of, Introduction Gifts, Property Received as a Gift Home sales (see Sale of home) Improvements to real estate, Improvements. Filelate com Involuntary conversion, Involuntary Conversions Like-kind exchanges, Basis of property received. Filelate com Other than cost, Basis Other Than Cost, Tax-exempt obligations. Filelate com , No gain or loss. Filelate com Points not to be included, Settlement costs. Filelate com , Points. Filelate com Property received for services, Property Received for Services Real estate, Real Property Restricted property, Restricted property. Filelate com Stock or stock rights, Basis. Filelate com Tax-exempt obligations Bonds, Tax-exempt obligations. Filelate com Transfers between spouses, Property Transferred From a Spouse, Transfers Between Spouses Beetles Damage or destruction to trees and plants, when casualty loss, Progressive deterioration. Filelate com Beneficiaries, Beneficiary of an estate or trust. Filelate com , Rollover by surviving spouse. Filelate com , Estate and trust income. Filelate com , Losses. Filelate com (see also Estate beneficiaries) (see also Trust beneficiaries) Bequests, Estate and trust income. Filelate com , Losses. Filelate com , Gifts and inheritances. Filelate com , Income from property received as a gift. Filelate com (see also Estate beneficiaries) (see also Gifts) (see also Inheritance) Bicycle Fringe benefit, Qualified bicycle commuting. Filelate com Bingo, Table 24-1. Filelate com Examples of Charitable Contributions—A Quick Check, Contributions From Which You Benefit Birth control pills, Table 21-1. Filelate com Medical and Dental Expenses Checklist. Filelate com See Publication 502 for more information about these and other expenses. Filelate com Birth of child, Death or birth of child. Filelate com Head of household, qualifying person to file as, Death or birth. Filelate com , Death or birth. Filelate com Social security number to be obtained, Born and died in 2013. Filelate com Birth of dependent, Death or birth. Filelate com Blackmail Losses due to, Theft Blind persons Exemption from withholding, Age 65 or older or blind. Filelate com Guide dogs, deductible as medical expense, Table 21-1. Filelate com Medical and Dental Expenses Checklist. Filelate com See Publication 502 for more information about these and other expenses. Filelate com Impairment-related work expenses, deduction for, Impairment-Related Work Expenses Standard deduction for, Introduction, Higher Standard Deduction for Blindness Blood banks No charitable deduction for blood donations to, Table 24-1. Filelate com Examples of Charitable Contributions—A Quick Check, Value of Time or Services Blue books to determine fair market value, Cars, boats, and airplanes. Filelate com Boats Charitable gift of, deduction for fair market value, Cars, boats, and airplanes. Filelate com Donations of, Cars, boats, and airplanes. Filelate com Body scan, Table 21-1. Filelate com Medical and Dental Expenses Checklist. Filelate com See Publication 502 for more information about these and other expenses. Filelate com Bona fide business purpose Travel expenses, Bona fide business purpose. Filelate com Work-related education, Qualifying Work-Related Education Bonds Adjusted basis for, Stocks and Bonds Amortization of premium, Amortization of bond premium. Filelate com , Amortizable Premium on Taxable Bonds As capital assets, Capital Assets and Noncapital Assets, Stocks, stock rights, and bonds. Filelate com Convertible bonds, Convertible stocks and bonds. Filelate com Discounted Capital gain or loss, Discounted Debt Instruments Issued at discount, Original Issue Discount (OID) Market discount bonds, Market discount bonds. Filelate com Original issue discount, Original Issue Discount (OID) Redemption of, Redemption or retirement of bonds. Filelate com Retirement of, Retirement bonds. Filelate com , Redemption or retirement of bonds. Filelate com Sale of, Bonds Sold Between Interest Dates Savings, U. Filelate com S. Filelate com Savings Bonds, Series HH bonds. Filelate com , Series EE and series I bonds. Filelate com Sold at premium, computation of adjusted basis, Bond premium. Filelate com State or local government, tax-exempt, Tax-exempt state and local government bonds. Filelate com Tax-exempt, State or Local Government Obligations Bonuses, Supplemental Wages, Bonuses and awards. Filelate com , Employee awards or bonuses. Filelate com Bookkeeping (see Recordkeeping requirements) Books to determine fair market value, Car value. Filelate com Borrowed funds, Loans. Filelate com , Items You Cannot Deduct (see also Loans) Used for charitable contributions, deduction for, Borrowed funds. Filelate com Bottled water, Table 21-1. Filelate com Medical and Dental Expenses Checklist. Filelate com See Publication 502 for more information about these and other expenses. Filelate com Boy Scouts Charitable contributions to, Examples. Filelate com , Table 24-1. Filelate com Examples of Charitable Contributions—A Quick Check Braille books, Table 21-1. Filelate com Medical and Dental Expenses Checklist. Filelate com See Publication 502 for more information about these and other expenses. Filelate com Breach of contract Damages as income, Court awards and damages. Filelate com employment, Damages for Breach of Employment Contract Breast pump and supplies, Table 21-1. Filelate com Medical and Dental Expenses Checklist. Filelate com See Publication 502 for more information about these and other expenses. Filelate com Bribes, Bribes. Filelate com , List of Nondeductible Expenses Brokers Form 1099-B, Sales and Trades IRAs with, When and How Can a Traditional IRA Be Opened? Commissions, Brokers' commissions. Filelate com , Brokers' commissions. Filelate com Receiving dividends, reporting on Form 1099-MISC, Form 1099-MISC. Filelate com Burglary Losses due to, Theft Burial expenses, List of Nondeductible Expenses (see Funerals) Business associates, Meals and Incidental Expenses, Entertainment Expenses (see also Entertainment expenses) Business travel to meet, Transportation Expenses Travel expenses of, paying for, Business associate. Filelate com Business expenses, Meals and Incidental Expenses, Entertainment Expenses (see also Entertainment expenses) Job search expenses, Job interview expenses. Filelate com Meal expenses (see Meal and lodging expenses) Reimbursements, Expense allowances. Filelate com , Allowances and reimbursements. Filelate com Returning excess for business expenses, Returning Excess Reimbursements Returning excess business expenses, Expense allowances. Filelate com Travel (see Travel and transportation expenses) Work-related education, What Expenses Can Be Deducted Business organizations Charitable contributions to, Contributions to Nonqualified Organizations Business property As gift, adjusted basis for, Business property. Filelate com Basis for depreciation, Basis for depreciation. Filelate com Property use changed to, adjusted basis for, Property Changed From Personal to Business or Rental Use Sales or exchanges Like-kind exchanges, Like-kind exchanges. Filelate com Business tax credits Claim for refund, Exceptions for special types of refunds. Filelate com Business use of home, Home Office C Cafeteria plans, Cafeteria plans. Filelate com Calendar year taxpayers Accounting periods, When Do I Have To File?, Accounting Periods, Accounting period. Filelate com Filing due date, When Do I Have To File? California Nonoccupational Disability Benefit Fund, Contributions to state benefit funds. Filelate com Campaign contributions, Campaign contributions. Filelate com , Table 24-1. Filelate com Examples of Charitable Contributions—A Quick Check, Contributions to Nonqualified Organizations Presidential Election Campaign Fund, Presidential Election Campaign Fund Campaign expenses, Campaign Expenses Canada Resident of, Citizen or Resident Test, Child in Canada or Mexico. Filelate com Cancellation of debt, Canceled Debts Exceptions to treatment as income, Exceptions Candidates for public office Contributions to, no charitable deduction for, Table 24-1. Filelate com Examples of Charitable Contributions—A Quick Check, Contributions to Nonqualified Organizations Capital assets Coal and iron ore, Coal and iron ore. Filelate com Definition of, Capital Assets and Noncapital Assets Capital expenses, Capital expenses. Filelate com Capital gains or losses, Capital Gains and Losses, How to report and postpone gain. Filelate com , Reporting Gains and Losses Bad debts as short-term capital loss, How to report bad debts. Filelate com Carryover of, Long-term gains and losses. Filelate com , Capital loss carryover. Filelate com Worksheet, Figuring your carryover. Filelate com Character of gain, Capital Gains and Losses Character of loss, Capital Gains and Losses Child's distributions and dividends, reporting of, Child's capital gain distributions. Filelate com , Capital gain distributions and qualified dividends. Filelate com Collectibles, Investment interest deducted. Filelate com Deductions, Capital Losses Limit on, Limit on deduction. Filelate com Distributions, Money Market Funds Form 1040 or 1040A to be used, You can use Form 1040A if all of the following apply. Filelate com , How To Report Dividend Income Form 8949, Reporting Gains and Losses Hobbies, sales from collections, Hobby losses. Filelate com Holding period, determination of, Holding Period How to report, Reporting Capital Gains and Losses Installment sales and, Installment sales. Filelate com Lump-sum distributions from pensions and annuities, Capital Gain Treatment Mutual funds paying, Capital Gain Distributions Net capital gain, Capital Gains and Losses, Long-term gains and losses. Filelate com , Capital Gain Tax Rates Included as investment income, Choosing to include net capital gain. Filelate com Net long-term capital loss, Long-term gains and losses. Filelate com Sale of personal items, Sale of personal items. Filelate com Sale or trade of property held more than 1 year, Long-term or short-term. Filelate com , Long-term gains and losses. Filelate com Schedule D, Reporting Gains and Losses , Reporting Capital Gains and Losses Section 1250 gains from sale of real property, Capital Gains and Losses, Unrecaptured section 1250 gain. Filelate com State or local government bonds, tax-exempt, Tax-exempt state and local government bonds. Filelate com Tax rates, Capital Gain Tax Rates Total net gain, Total net gain or loss. Filelate com Total net loss, Total net gain or loss. Filelate com Undistributed gains, Long-term gains and losses. Filelate com Credit for tax on, Undistributed capital gains of mutual funds and REITs. Filelate com , Credit for Tax on Undistributed Capital Gain Car expenses, Car expenses. Filelate com Car pools, Car pools. Filelate com , Car pools. Filelate com Carrybacks Business tax credit carrybacks, Exceptions for special types of refunds. Filelate com Carryovers Capital loss, Long-term gains and losses. Filelate com , Capital loss carryover. Filelate com Worksheet, Figuring your carryover. Filelate com Investment interest, Limit on Deduction Cars, Transportation, Transporting school children. Filelate com , Car Expenses and Other Employee Business Expenses, Car Expenses (see also Standard mileage rates) (see also Travel and transportation) Accidents resulting in casualty loss, Deductible losses. Filelate com Value determination, Car value. Filelate com Willful negligence or intentional act as cause, Nondeductible losses. Filelate com Actual expenses, Car Expenses, Actual Car Expenses Advertising displays on, Advertising display on car. Filelate com Allowances from employers, Per Diem and Car Allowances As capital assets, Capital Assets and Noncapital Assets Blue book to determine fair market value, Cars, boats, and airplanes. Filelate com Books to determine fair market value, Car value. Filelate com Business and personal use, allocation between, Business and personal use. Filelate com , Separating expenses. Filelate com Business-related travel expenses, Table 26-1. Filelate com Travel Expenses You Can Deduct This chart summarizes expenses you can deduct when you travel away from home for business purposes. Filelate com Car pools, Car pools. Filelate com Charitable gift of, deduction for fair market value, Cars, boats, and airplanes. Filelate com Charitable organization service, use for, Car expenses. Filelate com Depreciation, Depreciation and section 179 deductions. Filelate com Donations of, Cars, boats, and airplanes. Filelate com Fixed and variable rate (FAVR), Fixed and variable rate (FAVR). Filelate com Form 2106 or 2106-EZ, how to fill out, Car expenses. Filelate com Hauling tools or instruments, Hauling tools or instruments. Filelate com Interest on loans, not deductible, Personal Interest Leased vehicles, Leasing a car. Filelate com Medical transportation, Table 21-1. Filelate com Medical and Dental Expenses Checklist. Filelate com See Publication 502 for more information about these and other expenses. Filelate com , Transportation, Car expenses. Filelate com Parking (see Parking fees) Personal property taxes on, deduction of, Personal Property Taxes Reporting of, How To Report Table 26-3 showing forms to be used, Per diem allowance more than federal rate. Filelate com Sale, trade-in, or other disposition, Sale, Trade-In, or Other Disposition Section 179 deductions, Depreciation and section 179 deductions. Filelate com Work-related education, transportation for, Using your car. Filelate com Cash Dividends paid as, Introduction Rebates, Cash rebates. Filelate com Sales of property for, Payment of cash. Filelate com Cash contributions, records to keep, Cash Contributions Cash method taxpayers, Cash method. Filelate com Bad debts, Basis in bad debt required. Filelate com Points, deduction of, Deduction Allowed in Year Paid Real estate transactions, tax allocation, Division of real estate taxes between buyers and sellers. Filelate com Taxes paid during tax year, deduction of, You must pay the tax during your tax year. Filelate com Worthless securities and negotiable promissory notes, Worthless securities. Filelate com Cash rebates, Cash rebates. Filelate com Casualties, Home destroyed or condemned. Filelate com Casualty insurance Premiums not in property basis, Settlement costs. Filelate com Reimbursements from, Casualty insurance and other reimbursements. Filelate com Casualty losses, Nonbusiness Casualty and Theft Losses, Net operating loss (NOL). Filelate com , Casualty and Theft Losses, Casualty and Theft Losses of Income-Producing Property Adjusted basis in property, Casualty and theft losses. Filelate com , Involuntary Conversions, Adjusted Basis, Adjustments to basis. Filelate com Amount of loss, Figuring a Loss Appraisals, Appraisal. Filelate com , Costs of photographs and appraisals. Filelate com Bank deposit, loss due to bank's insolvency or bankruptcy, Casualty loss or ordinary loss. Filelate com Costs Cleaning up or making repairs, Cost of cleaning up or making repairs. Filelate com Photographs and appraisals, Costs of photographs and appraisals. Filelate com Deductible losses, Deductible losses. Filelate com $100 rule, $100 Rule When to take (Table 25-2), Gains more than losses. Filelate com Deduction limits, Deduction Limits For personal property (Table 25-1), Actual reimbursement same as expected. Filelate com Definition of casualty, Casualty Disasters, Employer's emergency disaster fund. Filelate com , Disaster relief. Filelate com (see also Disaster relief) Employer's emergency disaster fund, Employer's emergency disaster fund. Filelate com Fair market value of property, Decrease in Fair Market Value Form 4684 to be filed, Forms to file. Filelate com Insurance proceeds, treatment of, Insurance and Other Reimbursements Net operating losses, Net operating loss (NOL). Filelate com Nondeductible losses, Deductible losses. Filelate com Proof of loss, Casualty loss proof. Filelate com Property used partly for business and partly for personal purposes, Property used partly for business and partly for personal purposes. Filelate com Reimbursement, Insurance and Other Reimbursements Reporting of gain or loss, When To Report Gains and Losses, Losses. Filelate com , How To Report Gains and Losses Single casualty on multiple properties, Single Casualty on Multiple Properties Cemeteries Charitable contributions to, Types of Qualified Organizations Certificate, mortgage credit, Who qualifies. Filelate com Certificates of deposit (CDs), Certificates of deposit (CDs). Filelate com , Individual Retirement Arrangements (IRAs) (see also Individual retirement arrangements (IRAs)) Chambers of commerce Charitable contributions to, Table 24-1. Filelate com Examples of Charitable Contributions—A Quick Check, Contributions to Nonqualified Organizations Entertainment expenses for attending meetings, Trade association meetings. Filelate com Change of address, Change of Address Change of name, Name change. Filelate com , Name changed. Filelate com Chaplains Life insurance proceeds when death in line of duty, Public Safety Officer Killed in the Line of Duty Charitable contributions, Contributions, Introduction, Organizations That Qualify To Receive Deductible Contributions, Types of Qualified Organizations, Contributions You Can Deduct, Contributions From Which You Benefit, Table 24-1. Filelate com Examples of Charitable Contributions—A Quick Check, Token items. Filelate com , Written statement. Filelate com , Contributions You Cannot Deduct, Contributions to Individuals, Contributions to Nonqualified Organizations, Contributions From Which You Benefit, Contributions of Property, Determining Fair Market Value, Large quantities. Filelate com , Giving Property That Has Decreased in Value, Giving Property That Has Increased in Value, Ordinary income property. Filelate com , Capital gain property. Filelate com , Amount of deduction — general rule. Filelate com , Bargain sales. Filelate com , When To Deduct, Time of making contribution. Filelate com , Noncash Contributions, Additional records. Filelate com , How To Report Gifts to reduce public debt, Gift To Reduce Debt Held by the Public Charitable distributions, qualified, Qualified charitable distributions (QCD). Filelate com Charity benefit events Deduction amount for charitable contributions, Charity benefit events. Filelate com Check-writing fees, Check-Writing Fees on Personal Account Checklists Medical and dental expense deductions (Table 21-1), Medicare A. Filelate com Checks As charitable contributions, Checks. Filelate com Canceled checks as evidence of travel expenses, Canceled check. Filelate com Constructive receipt of, Check received or available. Filelate com Child Foster child, Rule 10. Filelate com You Cannot Be a Qualifying Child of Another Taxpayer, Rule 13. Filelate com You Cannot Be a Qualifying Child of Another Taxpayer Married child, Married child. Filelate com Child and dependent care credit, You can use Form 1040A if all of the following apply. Filelate com Due diligence, Getting the information. Filelate com Earned income, Earned income. Filelate com Full-time student, Rule for student-spouse or spouse not able to care for self. Filelate com Married filing separately, Special Rules Payments to relatives, Payments to Relatives or Dependents Child born alive, Child born alive. Filelate com Child care, You can use Form 1040A if all of the following apply. Filelate com Babysitting, Babysitting. Filelate com Care providers, Childcare providers. Filelate com Expenses, Child care expenses. Filelate com Nursing care for healthy baby, not deductible as medical expense, Table 21-1. Filelate com Medical and Dental Expenses Checklist. Filelate com See Publication 502 for more information about these and other expenses. Filelate com Child custody, Custodial parent and noncustodial parent. Filelate com Child support, Child support payments. Filelate com Alimony, difference from, Payments not alimony. Filelate com , Alimony requirements. Filelate com , Child support. Filelate com Child tax credit, Who Should File, You can use Form 1040A if all of the following apply. Filelate com , Child tax credit. Filelate com , Child Tax Credit Additional credit, Additional Child Tax Credit Amount of credit, Amount of Credit Claiming, procedure for, Claiming the Credit Limits, Special Rules, Limits on the Credit Modified adjusted gross income, Modified AGI. Filelate com Married filing separately, Special Rules Qualifying child, Qualifying Child Child, qualifying, Qualifying Child Childcare Credit, Child and Dependent Care Credit Provider Taxpayer identification number, Provider Identification Test Children, Adoption Assistance, Personal Expenses (see also Adoption) Additional credit on child tax credit, Additional Child Tax Credit Adoption (see Adopted child) Babysitters, Babysitting. Filelate com Birth of child Head of household, qualifying person to file as, Death or birth. Filelate com , Death or birth. Filelate com Social security number to be obtained, Born and died in 2013. Filelate com Care providers, Childcare providers. Filelate com (see also Child care) Child's tax, figuring of, Step 3. Filelate com Figuring the Child's Tax (Form 8615, Part III) Alternative minimum tax, Alternative minimum tax. Filelate com Credit for, Who Should File, You can use Form 1040A if all of the following apply. Filelate com (see also Child and dependent care credit) (see also Child tax credit) Custody of, Custodial parent and noncustodial parent. Filelate com Death of child Head of household, qualifying person to file as, Death or birth. Filelate com , Death or birth. Filelate com Deductions, Line 2 (deductions). Filelate com Dividends of (see this heading: Investment income of child under age 18) Earnings of, Child's earnings. Filelate com Filing requirements, Child's earnings. Filelate com As dependents (Table 1-2), Do I Have To File a Return? Gifts to, Income from property given to a child. Filelate com , Income from property received as a gift. Filelate com Inclusion of child's income on parent's return (Figure 31-A), Penalty for underpayment of estimated tax. Filelate com Income, calculation of, Figuring Child's Income Capital gains distributions, Capital gain distributions and qualified dividends. Filelate com Investment income of, Tax on unearned income of certain children. Filelate com Investment income of child under age 18 Dependent filing requirements (Table 1-2), Do I Have To File a Return? Interest and dividends, Certain Children Under Age 19 or Full-Time Students Parents' election to report on Form 1040, Certain Children Under Age 19 or Full-Time Students, Investment income of child reported on parent's return. Filelate com Kidnapped, Kidnapped child. Filelate com , Kidnapped child. Filelate com Net unearned income, figuring of, Step 1. Filelate com Figuring the Child's Net Unearned Income (Form 8615, Part I) Nontaxable income, Nontaxable income. Filelate com Property received as gift, income from, Income from property received as a gift. Filelate com Signing return, parent for child, Spouse unable to sign. Filelate com Standard deduction for, Introduction, Standard Deduction for Dependents Stillborn, Stillborn child. Filelate com Support of (see Child support) Tax credit (see Child tax credit) Tentative tax figured at parent's tax rate, Step 2. Filelate com Figuring Tentative Tax at the Parent's Tax Rate (Form 8615, Part II) Transporting school children, Transporting school children. Filelate com Unearned income of, Tax on unearned income of certain children. Filelate com Unearned income of certain children, Introduction Form 8615, use of (Figure 31-B), Parental information, providing of, Providing Parental Information (Form 8615, lines A–C) Parents' election to report on Form 1040, Parent's Election To Report Child's Interest and Dividends Trust income, Trust income. Filelate com Unearned income defined, Unearned income defined. Filelate com Chronic illness Accelerated payment of life insurance proceeds (see Accelerated death benefits) Long-term care (see Long-term care insurance contracts) Church employees Filing requirements (Table 1-3), Figuring tax. Filelate com Churches, temples, etc. Filelate com Charitable contributions to, Examples. Filelate com , Table 24-1. Filelate com Examples of Charitable Contributions—A Quick Check Convention delegates, deduction of unreimbursed expenses, Conventions. Filelate com Citizen or resident test, Citizen or Resident Test Citizens outside U. Filelate com S. Filelate com Business travel outside U. Filelate com S. Filelate com , Travel Outside the United States, Travel Primarily for Business, Travel Primarily for Personal Reasons Self-employed persons, Exception 1 - No substantial control. Filelate com Standard meal allowance, Standard meal allowance for areas outside the continental United States. Filelate com Earned income exclusion, Reminders Employment (see Foreign employment) Extension of time to file, Individuals Outside the United States Filing requirements, U. Filelate com S. Filelate com Citizens and Resident Aliens Living Abroad Withholding from IRA distributions, IRA distributions delivered outside the United States. Filelate com Civic associations Charitable contributions to, Contributions to Nonqualified Organizations Contributions to, no charitable deduction for, Table 24-1. Filelate com Examples of Charitable Contributions—A Quick Check Civil defense organizations Charitable contributions to, Examples. Filelate com Civil service retirement benefits, Civil service retirement benefits. Filelate com Civil suits, Court awards and damages. Filelate com (see also Damages from lawsuits) Civil tax penalties (see Penalties) Clergy, Ministers. Filelate com Contributions that can be spent as individual wishes, not deductible charitable contribution, Contributions to Individuals Housing, Clergy Real estate taxes when receiving housing allowance, Ministers' and military housing allowances. Filelate com , Ministers' and military housing allowance. Filelate com Life insurance proceeds when chaplain died in line of duty, Public Safety Officer Killed in the Line of Duty Pensions, Pension. Filelate com Special income rules, Clergy Clerical help, deductibility of, Clerical Help and Office Rent Clients, Meals and Incidental Expenses, Entertainment Expenses (see also Entertainment expenses) Business travel to meet, Transportation Expenses Travel expenses of, paying for, Business associate. Filelate com Closing costs Real property transactions, Settlement costs. Filelate com Sale of home, Settlement fees or closing costs. Filelate com Clothing Military, Military uniforms. Filelate com Moth damage, not casualty loss, Progressive deterioration. Filelate com Uniforms Charitable organization requiring, deduction for cost and upkeep of, Uniforms. Filelate com Used clothing, charitable deduction for fair market value, Used clothing and household items. Filelate com work, Work Clothes and Uniforms Club dues and membership fees Entertainment expenses, Club dues and membership fees. Filelate com Co-owners Dwelling unit used as home by co-owner, rental income and expense allocation, Shared equity financing agreement. Filelate com Coal and iron ore, Coal and iron ore. Filelate com Coins (see Collectibles) Collectibles As capital assets, Capital Assets and Noncapital Assets, Gold, silver, stamps, coins, gems, etc. Filelate com Gains or losses from sale or trade of, Investment interest deducted. Filelate com IRA investment in, Investment in Collectibles, Exception. Filelate com College professor Research expenses, Research Expenses of a College Professor Colleges and universities Charitable contributions to, Examples. Filelate com , Table 24-1. Filelate com Examples of Charitable Contributions—A Quick Check Athletic events, amount deductible, Athletic events. Filelate com Education costs, Qualified tuition programs (QTPs). Filelate com (see also Qualified tuition programs) Employer-provided educational assistance, Qualified Education Expenses (see also Educational assistance) Combat zone Extension to file return, Individuals Serving in Combat Zone Signing return for spouse, Spouse in combat zone. Filelate com Commission drivers Deduction of expenses, Statutory employees. Filelate com Commissions, Supplemental Wages Advance, Advance commissions and other earnings. Filelate com IRAs with brokers, Brokers' commissions. Filelate com , Brokers' commissions. Filelate com Property basis to include when buyer pays, Settlement costs. Filelate com Sharing of (kickbacks), Kickbacks. Filelate com Unearned, deduction for repayment of, Advance commissions and other earnings. Filelate com Commodities Derivative financial instruments, Capital Assets and Noncapital Assets Common law marriage, Considered married. Filelate com Communist organizations Charitable contributions to, Contributions to Nonqualified Organizations Community property, Community income. Filelate com , Community property. Filelate com Alimony, difference from, Payments not alimony. Filelate com IRAs, Community property laws. Filelate com Married filing separately, Community property states. Filelate com Medical and dental expenses, Community property states. Filelate com Commuting expenses, Commuting expenses. Filelate com , Commuting Expenses Employer-provided commuter vehicle, Commuter highway vehicle. Filelate com Compensation, Wages, Salaries, and Other Earnings (see also Wages and salaries) Defined for IRA purposes, What is compensation? Defined for Roth IRA purposes, Compensation. Filelate com Employee, Employee Compensation Miscellaneous compensation, Miscellaneous Compensation Nonemployee, Nonemployee compensation. Filelate com Unemployment, Unemployment compensation. Filelate com Computation of tax, Computations Equal amounts, Equal amounts. Filelate com Negative amounts, Negative amounts. Filelate com Rounding off dollars, Rounding off dollars. Filelate com Computer, Depreciation on Computers Condemnation of property, Home destroyed or condemned. Filelate com , Condemnations. Filelate com Basis computation, Involuntary Conversions Disaster areas, government-ordered demolition of unsafe home, Deductible losses. Filelate com Period of ownership and use, Previous home destroyed or condemned. Filelate com Confidential information Privacy Act and paperwork reduction information, Reminders Travel expenses and, Confidential information. Filelate com Constructive receipt of income, Constructive receipt. Filelate com , Payment to an agent. Filelate com , Constructive receipt. Filelate com Contributions, Gift To Reduce Debt Held by the Public, Campaign contributions. Filelate com , Contributions, Table 24-1. Filelate com Examples of Charitable Contributions—A Quick Check, Contributions to Nonqualified Organizations, How To Report (see also Campaign contributions) (see also Charitable contributions) Nontaxable combat pay, Nontaxable combat pay. Filelate com Political, Political Contributions Reservist repayments, Qualified reservist repayments. Filelate com Retirement (see specific type of plan ) Controlled corporations Nontaxable stock purchase of, Property for stock of a controlled corporation. Filelate com Related party transactions, Losses on sales or trades of property. Filelate com Convenience fees, Credit or Debit Card Convenience Fees Conventions Delegates Deduction of unreimbursed expenses, Conventions. Filelate com Travel expenses, Conventions Travel expenses, Conventions Work-related education, deduction of travel expenses for overseas conventions, Cruises and conventions. Filelate com Conversion (see specific retirement or IRA plan ) Convertible stocks and bonds, Convertible stocks and bonds. Filelate com Cooperative housing Dwelling unit used as home, Introduction Mortgage interest statements, Form 1098, Mortgage Interest Statement Real estate taxes, deduction of, Tenant-shareholders in a cooperative housing corporation. Filelate com Sale or trade of Form 1099-S to report, Form 1099-S transactions. Filelate com Period of ownership and use, Cooperative apartment. Filelate com Cooperatives Patronage dividends, Patronage dividends. Filelate com Copyrights, Capital Assets and Noncapital Assets Infringement damages, Court awards and damages. Filelate com Royalties, Royalties Corporations, S Corporation Income (see also S corporations) Controlled corporations, Property for stock of a controlled corporation. Filelate com , Losses on sales or trades of property. Filelate com Director fees as self-employment income, Corporate director. Filelate com Reorganizations and nontaxable trade of stock, Corporate reorganizations. Filelate com Corrections (see Errors) Cosmetic surgery Not deductible as medical expense, Table 21-1. Filelate com Medical and Dental Expenses Checklist. Filelate com See Publication 502 for more information about these and other expenses. Filelate com Cosmetics Not deductible as medical expense, Table 21-1. Filelate com Medical and Dental Expenses Checklist. Filelate com See Publication 502 for more information about these and other expenses. Filelate com Cost basis, Useful Items - You may want to see: IRAs for nondeductible contributions, Cost basis. Filelate com , Partly taxable. Filelate com Cost-of-living allowances, Government cost-of-living allowances. Filelate com Country clubs Charitable contributions to, Contributions to Nonqualified Organizations Dues Charitable deduction not allowed, Table 24-1. Filelate com Examples of Charitable Contributions—A Quick Check, Membership fees or dues. Filelate com Entertainment expense deduction not allowed, Club dues and membership fees. Filelate com Coupon bonds, Coupon bonds. Filelate com Court awards and damages (see Damages from lawsuits) Cousin, Cousin. Filelate com Coverdell ESAs Additional tax on, Other taxes. Filelate com CPAs (see Accountants) Credit cards Annual fees, not deductible, Items You Cannot Deduct Benefits, taxability of insurance, Credit card insurance. Filelate com Charitable contributions charged to, Credit card. Filelate com Finance charges, not deductible, Personal Interest Payment of taxes, Reminders Credit for child and dependent care expenses, Credit for child and dependent care expenses. Filelate com , Credit for child and dependent care expenses. Filelate com Credit for prior year minimum tax Nonrefundable, Nonrefundable Credit for Prior Year Minimum Tax Credit for the elderly or the disabled, Credit for the elderly or the disabled. Filelate com , Credit for the elderly or the disabled. Filelate com Credit or debit cards Payment of taxes, E-file and pay by credit or debit card or by direct transfer from your bank account. Filelate com Credit reports Costs not included in property basis, Settlement costs. Filelate com Fees for, not deductible, Items You Cannot Deduct Credit to holders of tax credit bonds, Credit to Holders of Tax Credit Bonds Credits, Credits. Filelate com , Earned income credit. Filelate com , Credit for child and dependent care expenses. Filelate com , Credit for the elderly or the disabled. Filelate com , Earned income credit. Filelate com , Credit for child and dependent care expenses. Filelate com , Credit for the elderly or the disabled. Filelate com , Earned income credit. Filelate com Alternative motor vehicle, Alternative Motor Vehicle Credit American opportunity, Special Rules Build America bonds (see Credit to holders of tax credit bonds) Capital gains, undistributed, credit for tax on, Undistributed capital gains of mutual funds and REITs. Filelate com , Credit for Tax on Undistributed Capital Gain Child and dependent care, Child and Dependent Care Credit (see Child and dependent care credit) Child tax (see Child tax credit) Clean renewable energy bonds (see Credit to holders of tax credit bonds) Earned income, Earned Income Credit (EIC) (see Earned income credit) Elderly or the disabled, Credit for the Elderly or the Disabled Excess withholding, Credit for Excess Social Security Tax or Railroad Retirement Tax Withheld Foreign tax, Foreign Tax Credit Health coverage, Health Coverage Tax Credit Lifetime learning (see Lifetime learning credit) Mortgage interest, Mortgage Interest Credit Nonrefundable credits, Nonrefundable Credits Plug-in electric drive motor vehicle, Plug-in Electric Drive Motor Vehicle Credit Prior year minimum tax (AMT), nonrefundable, Nonrefundable Credit for Prior Year Minimum Tax Qualified energy conservation bonds (see Credit to holders of tax credit bonds) Qualified school construction bonds (see Credit to holders of tax credit bonds) Qualified zone academy bonds (see Credit to holders of tax credit bonds) Refundable credits, Refundable Credits Residential energy, Residential Energy Credits Retirement savings contribution, Retirement Savings Contributions Credit (Saver's Credit) Cremation Not deductible as medical expense, Table 21-1. Filelate com Medical and Dental Expenses Checklist. Filelate com See Publication 502 for more information about these and other expenses. Filelate com Criminal prosecutions Travel expenses for federal staff, Exception for federal crime investigations or prosecutions. Filelate com Cruises Travel expenses when incidental business activities, Trip Primarily for Personal Reasons Work-related education, deduction of expenses, Cruises and conventions. Filelate com Custodial fees, Investment Fees and Expenses Custody of child, Custodial parent and noncustodial parent. Filelate com Customers, Meals and Incidental Expenses, Entertainment Expenses (see also Entertainment expenses) Business travel to meet, Transportation Expenses Travel expenses of, paying for, Business associate. Filelate com D Daily allowance (see Per diem) Damage to property, Nonbusiness Casualty and Theft Losses (see also Casualty losses) Disasters, Employer's emergency disaster fund. Filelate com , Disaster relief. Filelate com (see also Disaster relief) Damages, Damages for Breach of Employment Contract Damages from lawsuits, Court awards and damages. Filelate com Medical expenses as part of settlement, Damages for Personal Injuries Dating your return, Signatures Daycare centers, You can use Form 1040A if all of the following apply. Filelate com , Childcare providers. Filelate com , Care outside your home. Filelate com (see also Child and dependent care credit) (see also Child care) De minimis benefits, De Minimis (Minimal) Benefits Deadlines (see Due dates) Death (see Decedents) Death benefits Accelerated, Accelerated Death Benefits, Exclusion for terminal illness. Filelate com Life insurance proceeds (see Life insurance) Public safety officers who died or were killed in line of duty, tax exclusion, Public Safety Officer Killed in the Line of Duty Death of child, Death or birth of child. Filelate com Death of dependent, Death or birth. Filelate com Debt instruments (see Bonds or Notes) Debts, Exceptions for special types of refunds. Filelate com , Recoveries (see also Bad debts) Canceled (see Cancellation of debt) Nonrecourse, Mortgage relief upon sale or other disposition. Filelate com Paid by another, Debts paid for you. Filelate com Payoff of debt included in sales transaction, Debt paid off. Filelate com Public, gifts to reduce, Gift To Reduce Debt Held by the Public Recourse, Mortgage relief upon sale or other disposition. Filelate com Refund offset against, Refunds. Filelate com , Offset against debts. Filelate com Deceased taxpayers (see Decedents) Decedents, Surviving Spouses, Executors, Administrators, and Legal Representatives (see also Executors and administrators) Capital loss of, Decedent's capital loss. Filelate com Deceased spouse, Surviving Spouses, Executors, Administrators, and Legal Representatives Personal exemption, Death of spouse. Filelate com Due dates, Filing for a decedent. Filelate com Filing requirements, Surviving Spouses, Executors, Administrators, and Legal Representatives Funeral expenses, Contributions to Individuals Medical and dental expenses, Decedent Savings bonds, Decedents. Filelate com Spouse's death, Spouse died during the year. Filelate com , Spouse died. Filelate com Standard deduction, Decedent's final return. Filelate com Transfer of property at death, Other property transactions. Filelate com Declaration of rights of taxpayers IRS request for information, Reminders Deduction Costs of discrimination suits, Deduction for costs involved in unlawful discrimination suits. Filelate com Deductions, Special Rules, Personal Exemptions and Dependents, Your Own Exemption, Recoveries, Nonbusiness Bad Debts, How to report bad debts. Filelate com , Capital Losses , Introduction, Standard Deduction, Points, Treatment by buyer. Filelate com , Meals and Incidental Expenses, Entertainment Expenses (see also Bad debts) (see also Capital losses) (see also Entertainment expenses) (see also Personal exemption) (see also Points) (see also Recovery of amounts previously deducted) (see also Standard deduction) Alimony, deductible by payer, How To Deduct Alimony Paid Casualty losses, Casualty and Theft Losses of Income-Producing Property (see Capital losses) Changing claim after filing, need to amend, Amended Returns and Claims for Refund Charitable contributions, Contributions, How To Report (see also Charitable contributions) Dental expenses (see Medical and dental expenses) Depreciation, Depreciation and section 179 deduction. Filelate com Educator expenses, Educator Expenses Estate, Excess Deductions of an Estate Fee-basis government officials, Special Rules Impairment-related work expenses, Impairment-Related Work Expenses, Impairment-related work expenses of disabled employees. Filelate com Interest (see Interest payments) Investment expenses, Investment expenses. Filelate com IRA contributions (see Individual retirement arrangements (IRAs)) Itemizing (see Itemized deductions) Long-term care insurance contracts, Table 21-1. Filelate com Medical and Dental Expenses Checklist. Filelate com See Publication 502 for more information about these and other expenses. Filelate com Medical expenses (see Medical and dental expenses) Mortgage interest, Hardest Hit Fund and Emergency Homeowners' Loan Programs. Filelate com (see Mortgages) Not itemizing, use of Form 1040A, You can use Form 1040A if all of the following apply. Filelate com Pass-through entities, Indirect Deductions of Pass-Through Entities Penalties, no deduction permitted, Penalties. Filelate com Performing artists' expenses, Expenses of certain performing artists. Filelate com Prepaid insurance premiums, Prepaid insurance premiums. Filelate com Prescription medicines, Table 21-1. Filelate com Medical and Dental Expenses Checklist. Filelate com See Publication 502 for more information about these and other expenses. Filelate com Rental expenses, When to deduct. Filelate com Repayments, Repayments Section 179 deductions Adjustment to basis for, Depreciation and section 179 deduction. Filelate com Car expenses, Depreciation and section 179 deductions. Filelate com Self-employed persons Health insurance premiums, Health Insurance Costs for Self-Employed Persons Social security and railroad retirement benefits, Deductions Related to Your Benefits Standard deduction, Standard Deduction, Married persons who filed separate returns. Filelate com Stop-smoking programs, Table 21-1. Filelate com Medical and Dental Expenses Checklist. Filelate com See Publication 502 for more information about these and other expenses. Filelate com Student loan interest deduction (see Student loans) Theft loss, Casualty and Theft Losses of Income-Producing Property Transportation expenses (see Travel and transportation expenses) Union dues (see Labor unions) Work-related education, What Expenses Can Be Deducted Deeds Preparation costs for, Amounts charged for services. Filelate com Recording fees, basis to include, Real estate taxes. Filelate com Deferred annuity contracts (see Annuities) Deferred compensation Limit, Elective deferrals. Filelate com Nonqualified plans, Nonqualified deferred compensation plans. Filelate com Deferred compensation plans (see Retirement plans) Delinquent taxes Real estate transactions, tax allocation, Real estate taxes for prior years. Filelate com Delivery services, Private delivery services. Filelate com Business-related travel expense, Table 26-1. Filelate com Travel Expenses You Can Deduct This chart summarizes expenses you can deduct when you travel away from home for business purposes. Filelate com Demutualization of life insurance companies, Demutualization of life insurance companies. Filelate com Dental expenses (see Medical and dental expenses) Dentures Deductibility as medical expense, Table 21-1. Filelate com Medical and Dental Expenses Checklist. Filelate com See Publication 502 for more information about these and other expenses. Filelate com Dependent care Benefits, Dependent care benefits. Filelate com , Dependent Care Benefits Center, Dependent care center. Filelate com Credit for, Child and Dependent Care Credit Dependent taxpayer test, Dependent Taxpayer Test Dependents, Who Should File, You can use Form 1040A if all of the following apply. Filelate com , Exception for adopted child. Filelate com , Filers who have certain child dependents with an Individual Taxpayer Identification Number (ITIN). Filelate com (see also Child tax credit) Birth of, Death or birth. Filelate com Born and died within year, Exception. Filelate com , Born and died in 2013. Filelate com Death of, Death or birth. Filelate com Deceased dependent's medical and dental expenses, What if you pay medical expenses of a deceased spouse or dependent? Disabled dependent care expenses, deduction for, Disabled Dependent Care Expenses Exemption for, Exemptions for Dependents Filing requirements, Child's earnings. Filelate com Earned income, unearned income, and gross income levels (Table 1-2), Do I Have To File a Return? Married, filing joint return, Joint Return Test, Joint Return Test (To Be a Qualifying Child) Medical and dental expenses, Dependent Qualifying child, Qualifying Child, Qualifying Child Qualifying relative, Qualifying Relative, Qualifying Child Social security number, Dependent's SSN. Filelate com Adoption taxpayer identification number, Adoption taxpayer identification number (ATIN). Filelate com , Taxpayer identification numbers for aliens. Filelate com Alien dependents, Born and died in 2013. Filelate com Standard deduction for, Standard Deduction for Dependents Travel expenses for, Travel expenses for another individual. Filelate com Tuition deduction for, Who Can Claim a Dependent's Expenses Dependents not allowed to claim dependents, Dependent Taxpayer Test Depletion allowance, Depletion. Filelate com Deposits, Fees and deposits. Filelate com Loss on, Loss on Deposits Losses on, Deposit in Insolvent or Bankrupt Financial Institution, Loss on Deposits Reporting of, Loss on deposits. Filelate com Depreciation Adjustment to basis for, Depreciation and section 179 deduction. Filelate com Cars, Depreciation and section 179 deductions. Filelate com Change of use of property, Basis for depreciation. Filelate com Computer, Depreciation on Computers Correcting amount claimed, Claiming the correct amount of depreciation. Filelate com Form 4562 Rental property depreciation, Depreciation Home computer, Depreciation on Home Computer Property used in trade or business, as noncapital assets, Capital Assets and Noncapital Assets Real property Gain from disposition of property, Depreciation after May 6, 1997. Filelate com Land, no depreciation of, Land. Filelate com Rental property, Depreciation. Filelate com , Depreciation Designated Roth Account Defined. Filelate com , Designated Roth accounts. Filelate com Designated Roth account, Designated Roth accounts. Filelate com , Designated Roth accounts. Filelate com Destroyed records, Destroyed records. Filelate com Diaper service, Table 21-1. Filelate com Medical and Dental Expenses Checklist. Filelate com See Publication 502 for more information about these and other expenses. Filelate com Differential wage payments, Differential wage payments. Filelate com Differential wages Wages for reservists Military reserves, Differential wage payments. Filelate com Direct deposit of refunds, Refunds Directors' fees, Corporate director. Filelate com Disabilities, persons with, Qualifying Person Test, Physically or mentally not able to care for oneself. Filelate com , Credit for the Elderly or the Disabled (see also Elderly or the disabled) Accrued leave payment, Accrued leave payment. Filelate com Armed forces, Disability. Filelate com Blind (see Blind persons) Cafeteria plans, Cafeteria plans. Filelate com Credit for (see Elderly or disabled, credit for) Dependent who is disabled, deduction for care expenses, Disabled Dependent Care Expenses Guide dogs, deductible as medical expense, Table 21-1. Filelate com Medical and Dental Expenses Checklist. Filelate com See Publication 502 for more information about these and other expenses. Filelate com Impairment-related work expenses of, Impairment-Related Work Expenses, Impairment-related work expenses of disabled employees. Filelate com Work-related education, Impairment-Related Work Expenses Insurance costs, Cost paid by you. Filelate com Military and government pensions, Military and Government Disability Pensions Public assistance benefits, Persons with disabilities. Filelate com Reporting of disability pension income, Disability Pensions Retirement, pensions, and profit-sharing plans, Sickness and Injury Benefits, Retirement and profit-sharing plans. Filelate com Signing of return by court-appointed representative, Court-appointed, conservator, or other fiduciary. Filelate com Social security and railroad retirement benefits, deductions for, Disability payments. Filelate com Special school or home for, deductibility of medical expense, Table 21-1. Filelate com Medical and Dental Expenses Checklist. Filelate com See Publication 502 for more information about these and other expenses. Filelate com Terrorist attack as cause of injury, disability payments excluded from taxation, Disability pensions. Filelate com Workers' compensation, Workers' Compensation Disability Income, Disability income. Filelate com Disability benefits Earned income credit, Form 4029. Filelate com Disability insurance payments Earned income credit, Disability insurance payments. Filelate com Disability, permanent and total disability, Permanent and total disability. Filelate com Disabled Child, Permanently and totally disabled. Filelate com Dependent, Disabled dependent working at sheltered workshop. Filelate com Disaster Assistance Act of 1988 Withholding, Federal Payments Disaster relief, Terrorist attack or military action. Filelate com , Disaster relief payments. Filelate com , Disaster relief. Filelate com (see also Terrorist attacks) Cash gifts to victims, Cash gifts. Filelate com Disaster Relief and Emergency Assistance Act Grants, Disaster relief grants. Filelate com Unemployment assistance, Types of unemployment compensation. Filelate com Employer's emergency disaster fund, Employer's emergency disaster fund. Filelate com Government-ordered demolition or relocation of home that is unsafe due to, Deductible losses. Filelate com Grants or payments, Disaster relief grants. Filelate com Replacement of lost or destroyed property, Disaster relief. Filelate com Discharge of qualified principal residence indebtedness, Discharges of qualified principal residence indebtedness. Filelate com , Adjusted Basis Disclosure statement, Disclosure statement. Filelate com Discount, bonds and notes issued at, Original Issue Discount (OID) Discounted debt instruments Capital gain or loss, Discounted Debt Instruments Discounts Employee discounts, effect on basis, Bargain purchases. Filelate com Distributions, Eligible rollover distributions. Filelate com (see also Rollovers) Early (see Early withdrawal from deferred interest account) Liquidating distributions, Liquidating Distributions Lump sum (see Lump-sum distributions) Nondividend distributions, Nondividend Distributions Qualified charitable, Qualified charitable distributions (QCD). Filelate com Qualified reservist, Qualified reservist distributions. Filelate com Required minimum distributions, Required distributions. Filelate com , Required distributions. Filelate com , When Must You Withdraw IRA Assets? (Required Minimum Distributions) (see also Individual retirement arrangements (IRAs)) (see also Pensions) Return of capital, Nondividend Distributions District of Columbia First-time homebuyer credit, Decreases to basis. Filelate com Dividends, Dividends and Other Distributions, Form 1099-DIV. Filelate com , More information. Filelate com (see also Form 1099-DIV) Alaska Permanent Fund (see Alaska Permanent Fund dividends) As stock dividends and stock rights, Distributions of Stock and Stock Rights Backup withholding, Backup withholding. Filelate com Beneficiary of estate or trust receiving, Beneficiary of an estate or trust. Filelate com Buying more stock with, Dividends Used to Buy More Stock Defined, Introduction Exempt-interest dividends, Other Distributions Expenses related to, deduction of, Expenses related to dividend income. Filelate com Fees to collect, Fees to Collect Interest and Dividends Foreign income, Reminder Holding period, determination of, Stock dividends. Filelate com Insurance dividends, Dividends on insurance policies. Filelate com Money market funds, Money Market Funds Nominees receiving on behalf of another, Nominees. Filelate com Nondividend distributions, Nondividend Distributions Ordinary dividends, Ordinary Dividends Patronage dividends, Patronage dividends. Filelate com Qualified, Qualified Dividends, Qualified dividends. Filelate com Real estate investment trusts (REITs) paying, Capital Gain Distributions Redemption treated as, Dividend versus sale or trade. Filelate com Reinvestment plans, Dividends Used to Buy More Stock Reporting of, How To Report Dividend Income As interest, Introduction Scrip dividends, Scrip dividends. Filelate com Sold stock, Dividends on stock sold. Filelate com Stockholder debts when canceled as, Stockholder debt. Filelate com Veterans' insurance, Dividends on veterans' insurance. Filelate com Divorced parents, Children of divorced or separated parents (or parents who live apart). Filelate com , Applying this special rule to divorced or separated parents (or parents who live apart). Filelate com Divorced taxpayers, Alimony. Filelate com (see also Alimony) Child and dependent care credit, Child of divorced or separated parents or parents living apart. Filelate com Child custody, Custodial parent and noncustodial parent. Filelate com Definition of divorce instrument for purposes of alimony, Divorce or separation instrument. Filelate com Estimated tax payments, Divorced Taxpayers Filing status, Divorced persons. Filelate com , Divorced persons. Filelate com IRAs, Kay Bailey Hutchison Spousal IRA. Filelate com , Transfers Incident to Divorce Medical and dental expenses of children of, Child of divorced or separated parents. Filelate com Mortgage interest, payment as alimony, Divorced or separated individuals. Filelate com Personal exemption, Divorced or separated spouse. Filelate com Real estate taxes, allocation of, Divorced individuals. Filelate com Transfers between spouses, Property Transferred From a Spouse, Transfers Between Spouses Use of home after divorce, Use of home after divorce. Filelate com Doctors' bills (see Medical and dental expenses) Documentary evidence Recordkeeping requirements, Documentary evidence. Filelate com Domestic help Withholding, Household workers. Filelate com Domestic help, no exemption for, Housekeepers, maids, or servants. Filelate com