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Filing Amended Tax Return 2013

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Filing Amended Tax Return 2013

Filing amended tax return 2013 Publication 901 - Main Content Table of Contents Application of Treaties Tax Exemptions Provided by TreatiesPersonal Services Income Professors, Teachers, and Researchers Students and Apprentices Wages and Pensions Paid by a Foreign Government Explanation of TablesTable 1 Table 2 Table 3 Application of Treaties The United States has income tax treaties with a number of foreign countries. Filing amended tax return 2013 Under these treaties, residents (not necessarily citizens) of foreign countries are taxed at a reduced rate, or are exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income taxes on certain items of income they receive from sources within the United States. Filing amended tax return 2013 These reduced rates and exemptions vary among countries and specific items of income. Filing amended tax return 2013 If there is no treaty between your country and the United States, you must pay tax on the income in the same way and at the same rates shown in the instructions for Form 1040NR. Filing amended tax return 2013 Also see Publication 519. Filing amended tax return 2013 Many of the individual states of the United States tax the income of their residents. Filing amended tax return 2013 Therefore, you should consult the tax authorities of the state in which you live to find out if that state taxes the income of individuals and, if so, whether the tax applies to any of your income. Filing amended tax return 2013 Tax treaties reduce the U. Filing amended tax return 2013 S. Filing amended tax return 2013 taxes of residents of foreign countries. Filing amended tax return 2013 With certain exceptions, they do not reduce the U. Filing amended tax return 2013 S. Filing amended tax return 2013 taxes of U. Filing amended tax return 2013 S. Filing amended tax return 2013 citizens or residents. Filing amended tax return 2013 U. Filing amended tax return 2013 S. Filing amended tax return 2013 citizens and residents are subject to U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax on their worldwide income. Filing amended tax return 2013 Treaty provisions generally are reciprocal (apply to both treaty countries); therefore, a U. Filing amended tax return 2013 S. Filing amended tax return 2013 citizen or resident who receives income from a treaty country may refer to the tables in this publication to see if a tax treaty might affect the tax to be paid to that foreign country. Filing amended tax return 2013 Foreign taxing authorities sometimes require certification from the U. Filing amended tax return 2013 S. Filing amended tax return 2013 Government that an applicant filed an income tax return as a U. Filing amended tax return 2013 S. Filing amended tax return 2013 citizen or resident, as part of the proof of entitlement to the treaty benefits. Filing amended tax return 2013 See Form 8802, Application for United States Residency Certification, to request a certification. Filing amended tax return 2013 Disclosure of a treaty-based position that reduces your tax. Filing amended tax return 2013   If you take the position that any U. Filing amended tax return 2013 S. Filing amended tax return 2013 tax is overruled or otherwise reduced by a U. Filing amended tax return 2013 S. Filing amended tax return 2013 treaty (a treaty-based position), you generally must disclose that position on Form 8833 and attach it to your return. Filing amended tax return 2013 If you are not required to file a return because of your treaty-based position, you must file a return anyway to report your position. Filing amended tax return 2013 The filing of Form 8833 does not apply to a reduced rate of withholding tax on noneffectively connected income, such as dividends, interest, rents or royalties, or to a reduced rate of tax on pay received for services performed as an employee, including pensions, annuities, and social security. Filing amended tax return 2013 For more information, see Publication 519 and the Form 8833 instructions. Filing amended tax return 2013   If you fail to file Form 8833, you may have to pay a $1,000 penalty. Filing amended tax return 2013 Corporations are subject to a $10,000 penalty for each failure. Filing amended tax return 2013 Tax Exemptions Provided by Treaties In addition to the tables in the back of this publication, this publication contains discussions of the exemptions from tax and certain other effects of the tax treaties on the following types of income. Filing amended tax return 2013 Pay for certain personal services performed in the United States. Filing amended tax return 2013 Pay of a professor, teacher, or researcher who teaches or performs research in the United States for a limited time. Filing amended tax return 2013 Amounts received for maintenance and studies by a foreign student or apprentice who is here for study or experience. Filing amended tax return 2013 Wages, salaries, and pensions paid by a foreign government. Filing amended tax return 2013 Personal Services Income Pay for certain personal services performed in the United States is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if you are a resident of one of the countries discussed below, if you are in the United States for a limited number of days, and if you meet certain other conditions. Filing amended tax return 2013 For this purpose, the word “day” means a day during any part of which you are physically present in the United States. Filing amended tax return 2013 Terms defined. Filing amended tax return 2013   Several terms appear in many of the discussions that follow. Filing amended tax return 2013 The exact meanings of the terms are determined by the particular tax treaty under discussion; thus, the meanings vary among treaties. Filing amended tax return 2013 The definitions that follow are, therefore, general definitions that may not give the exact meaning intended by a particular treaty. Filing amended tax return 2013   The terms fixed base and permanent establishment generally mean a fixed place of business, such as a place of management, a branch, an office, a factory, a warehouse, or a mining site, through which an enterprise carries on its business. Filing amended tax return 2013   The term borne by generally means having ultimate financial accounting responsibility for, or providing the monetary resources for, an expenditure or payment, even if another entity in another location actually made the expenditure or payment. Filing amended tax return 2013 Australia Income that residents of Australia receive for performing personal services as independent contractors or self-employed individuals (independent personal services) in the United States during the tax year is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if the residents: Are in the United States for no more than 183 days during the tax year, and Do not have a fixed base regularly available to them in the United States for the purpose of performing the services. Filing amended tax return 2013 If they have a fixed base available in the United States, they are taxed on the income attributable to the fixed base. Filing amended tax return 2013 Pay that residents of Australia receive for labor or personal services performed in the United States as employees (dependent personal services), including services as a director of a company, is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if: The residents are in the United States for no more than 183 days during the tax year, The pay is paid by, or on behalf of, an employer or company that is not a resident of the United States, and The pay is not deductible in determining the taxable income of the trade or business of the employer (or company) in the United States. Filing amended tax return 2013 These exemptions do not apply to public entertainers (such as theater, motion picture, radio, or television entertainers, musicians, and athletes) from Australia who earn more than $10,000 in gross receipts, including reimbursed expenses, from their entertainment activities in the United States during the tax year. Filing amended tax return 2013 Austria Income that residents of Austria receive for personal services as independent contractors or self-employed individuals (independent personal services) in the United States is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if they do not have a fixed base regularly available to them in the United States for performing the services. Filing amended tax return 2013 If they have a fixed base available in the United States, they are taxed on the income attributable to the fixed base. Filing amended tax return 2013 Income that residents of Austria receive for services performed in the United States as employees (dependent personal services) is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if the residents meet the following requirements. Filing amended tax return 2013 They are in the United States for no more than 183 days in any 12-month period beginning or ending in the tax year. Filing amended tax return 2013 Their income is paid by, or on behalf of, an employer who is not a U. Filing amended tax return 2013 S. Filing amended tax return 2013 resident. Filing amended tax return 2013 Their income is not borne by a permanent establishment or a fixed base that the employer has in the United States. Filing amended tax return 2013 These exemptions do not apply to public entertainers (such as theater, motion picture, radio, or television entertainers, musicians, and athletes) from Austria who earn more than $20,000 in gross receipts, including reimbursed expenses, from their entertainment activities in the United States during the tax year. Filing amended tax return 2013 Income received by a resident of Austria for services performed as an employee and member of the regular complement of a ship or aircraft operated in international traffic is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax. Filing amended tax return 2013 Bangladesh Income that residents of Bangladesh receive for performing personal services as independent contractors or self-employed individuals (independent personal services) in the United States during the tax year is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if the residents: Are in the United States for no more than 183 days in any 12-month period beginning or ending in the tax year, or Do not have a fixed base regularly available to them in the United States for the purpose of performing the services. Filing amended tax return 2013 If they have a fixed base available in the United States, they are taxed on the income attributable to the fixed base. Filing amended tax return 2013 Income that residents of Bangladesh receive for services performed in the United States as employees (dependent personal services) is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if the residents meet the following requirements. Filing amended tax return 2013 They are in the United States for no more than 183 days in any 12-month period beginning or ending in the tax year. Filing amended tax return 2013 Their income is paid by, or on behalf of, an employer who is not a U. Filing amended tax return 2013 S. Filing amended tax return 2013 resident. Filing amended tax return 2013 Their income is not borne by a permanent establishment or a fixed base that the employer has in the United States. Filing amended tax return 2013 These exemptions do not apply to pubic entertainers (such as theater, motion picture, radio, or television entertainers, musicians, and athletes) from Bangladesh who earn more than $10,000 in gross receipts, including reimbursed expenses, from their entertainment activities in the United States during the tax year. Filing amended tax return 2013 Regardless of these limits, income of Bangladesh entertainers is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if their visit to the United States is wholly or mainly supported by public funds of Bangladesh, its political subdivisions, or local authorities. Filing amended tax return 2013 Income received from employment as a member of the regular complement of a ship or an aircraft operated by a Bangladesh enterprise in international traffic is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 tax. Filing amended tax return 2013 If the ship or aircraft is operated by a U. Filing amended tax return 2013 S. Filing amended tax return 2013 enterprise, the income is subject to U. Filing amended tax return 2013 S. Filing amended tax return 2013 tax. Filing amended tax return 2013 If the resident of Bangladesh is a shareholder in a U. Filing amended tax return 2013 S. Filing amended tax return 2013 corporation, these exemptions do not apply to directors' fees received as a member of the board of directors of the U. Filing amended tax return 2013 S. Filing amended tax return 2013 corporation. Filing amended tax return 2013 The amount received by the shareholder that is more than the amount paid to a director that is not a shareholder is subject to U. Filing amended tax return 2013 S. Filing amended tax return 2013 tax at the rate of 15%. Filing amended tax return 2013 Barbados Income that residents of Barbados receive for performing personal services as independent contractors or self-employed individuals (independent personal services) in the United States during the tax year is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if the residents: Are in the United States for no more than 89 days during the tax year, Earn net income for independent services provided to U. Filing amended tax return 2013 S. Filing amended tax return 2013 residents that is not more than $5,000 (there is no dollar limit if the contractors are not U. Filing amended tax return 2013 S. Filing amended tax return 2013 residents), and Do not have a regular base available in the United States for performing the services. Filing amended tax return 2013 If they have a regular base available in the United States but otherwise meet the conditions for exemption, they are taxed only on the income attributable to the regular base. Filing amended tax return 2013 Income that residents of Barbados receive for personal services performed in the United States as employees (dependent personal services) is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 tax if the residents meet four requirements. Filing amended tax return 2013 They are in the United States for no more than 183 days during the calendar year. Filing amended tax return 2013 The income earned in the calendar year in the United States is not more than $5,000. Filing amended tax return 2013 Their income is paid by or for an employer who is not a U. Filing amended tax return 2013 S. Filing amended tax return 2013 resident. Filing amended tax return 2013 The income is not borne by a permanent establishment or regular base of the employer in the United States. Filing amended tax return 2013 Income of a Barbadian resident from employment as a member of the regular complement of a ship or aircraft operated in international traffic is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 tax. Filing amended tax return 2013 These exemptions do not apply to Barbadian resident public entertainers (such as theater, motion picture, radio, or television artists, musicians, or athletes) who receive gross receipts of more than $250 per day or $4,000 in the tax year, not including reimbursed expenses, from their entertainment activities in the United States. Filing amended tax return 2013 However, the exemptions do apply regardless of these limits on gross receipts if the entertainer's visit to the United States is substantially supported by Barbadian public funds or if the entertainer's services are provided to a nonprofit organization. Filing amended tax return 2013 Belgium Income that residents of Belgium receive for personal services as independent contractors or self-employed individuals are subject to the provisions of Article 7 (Business Profits) of the treaty. Filing amended tax return 2013 Under that provision, business profits are exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax unless the individual has a permanent establishment in the United States. Filing amended tax return 2013 If they have a permanent establishment in the United States, they are taxed on the profit attributable to the permanent establishment. Filing amended tax return 2013 Income that residents of Belgium receive for services performed in the United States as employees (dependent personal services) is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if the residents meet the following requirements. Filing amended tax return 2013 They are in the United States for no more than 183 days in any 12-month period beginning or ending in the tax year. Filing amended tax return 2013 Their income is paid by, or on behalf of, an employer who is not a U. Filing amended tax return 2013 S. Filing amended tax return 2013 resident. Filing amended tax return 2013 Their income is not borne by a permanent establishment that the employer has in the United States. Filing amended tax return 2013 The exemption does not apply to directors' fees and similar payments received by a resident of Belgium for services performed in the United States as a member of the board of directors of a company that is a resident of the United States. Filing amended tax return 2013 Public entertainers (such as theater, motion picture, radio, or television artists, musicians, or athletes) from Belgium who earn more than $20,000 in gross receipts, including reimbursed expenses, from their entertainment activities in the United States during the tax year are subject to U. Filing amended tax return 2013 S. Filing amended tax return 2013 tax. Filing amended tax return 2013 Income received by a resident of Belgium for services performed as an employee and member of the regular complement of a ship or aircraft operated in international traffic is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax. Filing amended tax return 2013 Bulgaria Income that residents of Bulgaria receive for personal services as independent contractors or self-employed individuals is subject to the provisions of Article 7 (Business Profits) of the treaty. Filing amended tax return 2013 Under that provision, business profits are exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax unless the individual has a permanent establishment in the United States. Filing amended tax return 2013 If they have a permanent establishment in the United States, they are taxed on the profit attributable to the permanent establishment. Filing amended tax return 2013 Under Article 5 (Permanent Establishment), you may be considered to provide services through a permanent establishment in the United States even if you do not have a fixed place of business. Filing amended tax return 2013 Income that residents of Bulgaria receive for services performed in the United States as employees (dependent personal services) is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if the residents meet the following requirements. Filing amended tax return 2013 They are in the United States for no more than 183 days in any 12-month period beginning or ending in the tax year. Filing amended tax return 2013 Their income is paid by, or on behalf of, an employer who is not a U. Filing amended tax return 2013 S. Filing amended tax return 2013 resident. Filing amended tax return 2013 Their income is not borne by a permanent establishment that the employer has in the United States. Filing amended tax return 2013 The exemption does not apply to directors' fees and similar payments received by a resident of Bulgaria as a member of the board of directors of a U. Filing amended tax return 2013 S. Filing amended tax return 2013 company. Filing amended tax return 2013 Public entertainers (such as theater, motion picture, radio, or television artists, musicians, or athletes) from Bulgaria who earn more than $15,000 in gross receipts, including reimbursed expenses, from their entertainment activities in the United States during the tax year are subject to U. Filing amended tax return 2013 S. Filing amended tax return 2013 tax. Filing amended tax return 2013 Income received by a resident of Bulgaria for services performed as an employee and member of the regular complement of a ship or aircraft operated in international traffic is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax. Filing amended tax return 2013 Canada Income that residents of Canada receive for personal services as independent contractors or self-employed individuals is subject to the provisions of Article VII (Business Profits) of the treaty. Filing amended tax return 2013 Under that provision, business profits are exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax unless the individual has a permanent establishment in the United States. Filing amended tax return 2013 If they have a permanent establishment in the United States, they are taxed on the profit attributable to the permanent establishment. Filing amended tax return 2013 Under Article V (Permanent Establishment), you may be considered to provide services through a permanent establishment in the United States even if you do not have a fixed place of business. Filing amended tax return 2013 Income that residents of Canada receive for personal services performed as employees (dependent personal services) in the United States is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 tax if it is not more than $10,000 for the year. Filing amended tax return 2013 If the income is more than $10,000 for the year, it is exempt only if: The residents are present in the United States for no more than 183 days in any 12-month period beginning or ending in the tax year, and The income is not paid by, or on behalf of, a U. Filing amended tax return 2013 S. Filing amended tax return 2013 resident, and is not borne by a permanent establishment in the United States. Filing amended tax return 2013 Public entertainers (such as theater, motion picture, radio, or television artists, musicians, or athletes) from Canada who derive more than $15,000 in gross receipts, including reimbursed expenses, from their entertainment activities in the United States during the calendar year are subject to U. Filing amended tax return 2013 S. Filing amended tax return 2013 tax. Filing amended tax return 2013 However, this article does not apply to athletes participating in team sports in leagues with regularly scheduled games in both Canada and the United States. Filing amended tax return 2013 Pay received by a resident of Canada for employment regularly done in more than one country on a ship, aircraft, motor vehicle, or train operated by a Canadian resident is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 tax. Filing amended tax return 2013 China, People's Republic of Income that residents of the People's Republic of China receive for personal services as independent contractors or self-employed individuals (independent personal services) that they perform during the tax year in the United States is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if the residents: Are present in the United States for no more than 183 days in the calendar year, and Do not have a fixed base regularly available in the United States for performing the services. Filing amended tax return 2013 If they have a fixed base available in the United States, they are taxable on the income attributable to the fixed base. Filing amended tax return 2013 Pay received by residents of the People's Republic of China for services performed as employees (dependent personal services) in the United States is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 tax if: The residents are present in the United States for no more than 183 days in the calendar year, The pay is paid by or for an employer who is not a U. Filing amended tax return 2013 S. Filing amended tax return 2013 resident, and The pay is not borne by a permanent establishment or fixed base that the employer has in the United States. Filing amended tax return 2013 These exemptions do not apply to directors' fees for service on the board of directors of a U. Filing amended tax return 2013 S. Filing amended tax return 2013 corporation. Filing amended tax return 2013 These exemptions generally do not apply to income received as a public entertainer (such as a theater, motion picture, radio, or television artist, musician, or athlete). Filing amended tax return 2013 However, income of athletes or public entertainers from China participating in a cultural exchange program agreed upon by the U. Filing amended tax return 2013 S. Filing amended tax return 2013 and Chinese governments is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 tax. Filing amended tax return 2013 Commonwealth of Independent States Income that residents of a C. Filing amended tax return 2013 I. Filing amended tax return 2013 S. Filing amended tax return 2013 member receive for performing personal services in the United States is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if those residents are in the United States for no more than 183 days during the tax year. Filing amended tax return 2013 Pay received by an employee who is a member of the regular complement of a ship or aircraft operated in international traffic by a C. Filing amended tax return 2013 I. Filing amended tax return 2013 S. Filing amended tax return 2013 member or a resident of a C. Filing amended tax return 2013 I. Filing amended tax return 2013 S. Filing amended tax return 2013 member is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 tax. Filing amended tax return 2013 Cyprus Income that residents of Cyprus receive for performing personal services as independent contractors or self-employed individuals (independent personal services) in the United States during the tax year is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if the residents: Are present in the United States for less than 183 days in the tax year, and Do not have a fixed base regularly available to them in the United States for performing the services. Filing amended tax return 2013 If they have a fixed base available in the United States, they are taxable on the income attributable to the fixed base. Filing amended tax return 2013 Pay received by residents of Cyprus from services performed as employees (dependent personal services), including services as an officer of a corporation, is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if: The residents are in the United States for less than 183 days during the tax year, The pay is paid by or for an employer who is not a U. Filing amended tax return 2013 S. Filing amended tax return 2013 resident, and The pay is not borne by a permanent establishment, fixed base, or trade or business that the employer has in the United States. Filing amended tax return 2013 Pay received by a Cyprus resident for performing personal services as an employee and member of the regular complement of a ship or aircraft operated in international traffic by a resident of Cyprus is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 tax. Filing amended tax return 2013 These exemptions do not apply to Cyprus resident public entertainers (theater, motion picture, radio, or television artists, musicians, or athletes) who receive gross receipts of more than $500 per day or $5,000 for the tax year, not including reimbursed expenses, from their entertainment activities in the United States. Filing amended tax return 2013 Directors' fees received by residents of Cyprus for service on the board of directors of a U. Filing amended tax return 2013 S. Filing amended tax return 2013 corporation are exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax to the extent of a reasonable fixed amount payable to all directors for each day of attendance at directors' meetings held in the United States. Filing amended tax return 2013 Czech Republic Income that residents of the Czech Republic receive for performing personal services as independent contractors or self-employed individuals (independent personal services) in the United States is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if the residents: Are present in the United States for no more than 183 days in any 12-month period, and Do not have a fixed base regularly available to them in the United States for performing the services. Filing amended tax return 2013 If they have a fixed base available, they are taxed only on income attributable to the fixed base. Filing amended tax return 2013 Income that residents of the Czech Republic receive for employment in the United States (dependent personal services) is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if the following three requirements are met. Filing amended tax return 2013 The resident is present in the United States for no more than 183 days in any 12-month period. Filing amended tax return 2013 The income is paid by, or on behalf of, an employer who is not a U. Filing amended tax return 2013 S. Filing amended tax return 2013 resident. Filing amended tax return 2013 The income is not borne by a permanent establishment or a fixed base that the employer has in the United States. Filing amended tax return 2013 These exemptions do not apply to income residents of the Czech Republic receive as public entertainers (such as theater, motion picture, radio, or television artists, or musicians) or sportsmen if their gross receipts, including reimbursed expenses, are more than $20,000 during the tax year. Filing amended tax return 2013 Regardless of these limits, income of Czech entertainers and sportsmen is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if their visit to the United States is substantially supported by public funds of the Czech Republic, its political subdivisions, or local authorities, or the visit is made pursuant to a specific arrangement between the United States and the Czech Republic. Filing amended tax return 2013 These exemptions do not apply to directors' fees and similar payments received by a resident of the Czech Republic as a member of the board of directors of a company that is a resident of the United States. Filing amended tax return 2013 Income from employment as a member of the regular complement of a ship or aircraft operated by a Czech enterprise in international traffic is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax. Filing amended tax return 2013 If the ship or aircraft is operated by a U. Filing amended tax return 2013 S. Filing amended tax return 2013 enterprise, the income is subject to U. Filing amended tax return 2013 S. Filing amended tax return 2013 tax. Filing amended tax return 2013 Denmark Income that residents of Denmark receive for personal services as independent contractors or self-employed individuals (independent personal services) in the United States is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if they do not have a fixed base regularly available to them in the United States for performing the services. Filing amended tax return 2013 If they have a fixed base available in the United States, they are taxed on the income attributable to the fixed base. Filing amended tax return 2013 Income that residents of Denmark receive for services performed in the United States as employees (dependent personal services) is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if the residents meet the following requirements. Filing amended tax return 2013 They are in the United States for no more than 183 days in any 12-month period beginning or ending in the tax year. Filing amended tax return 2013 Their income is paid by, or on behalf of, an employer who is not a U. Filing amended tax return 2013 S. Filing amended tax return 2013 resident. Filing amended tax return 2013 Their income is not borne by a permanent establishment or a fixed base that the employer has in the United States. Filing amended tax return 2013 These exemptions do not apply to directors' fees and similar payments received by a resident of Denmark as a member of the board of directors of a company that is a resident of the United States. Filing amended tax return 2013 These exemptions do not apply to public entertainers (such as theater, motion picture, radio, or television artists, musicians, and athletes) from Denmark who earn more than $20,000 in gross receipts, including reimbursed expenses, from their entertainment activities in the United States during the tax year. Filing amended tax return 2013 Income received by a resident of Denmark for services performed as an employee and member of the regular complement of a ship or aircraft operated in international traffic is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax. Filing amended tax return 2013 Egypt Income that residents of Egypt receive for performing personal services as independent contractors or as self-employed individuals (independent personal services) in the United States during the tax year is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if they are in the United States for no more than 89 days during the tax year. Filing amended tax return 2013 Income that residents of Egypt receive for labor or personal services performed in the United States as employees (dependent personal services), including income for services performed by an officer of a corporation or company, is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if the residents meet four requirements. Filing amended tax return 2013 They are in the United States for no more than 89 days during the tax year. Filing amended tax return 2013 They are employees of a resident of, or a permanent establishment in, Egypt. Filing amended tax return 2013 Their income is not borne by a permanent establishment that the employer has in the United States. Filing amended tax return 2013 Their income is subject to Egyptian tax. Filing amended tax return 2013 This exemption does not apply to pay received by a resident of Egypt who is an employee and member of the regular complement of a ship or an aircraft operated in international traffic by a resident of the United States. Filing amended tax return 2013 These exemptions do not apply to Egyptian resident public entertainers (theater, motion picture, radio, or television artists, musicians, or athletes), who earn income for services as public entertainers if the gross amount of the income is more than $400 for each day they are in the United States performing the services. Filing amended tax return 2013 Estonia Income that residents of Estonia receive for performing personal services as independent contractors or self-employed individuals (independent personal services) in the United States is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if the residents: Are in the United States for no more than 183 days in any 12-month period beginning or ending in the tax year, and Do not have a fixed base regularly available to them in the United States for performing the services. Filing amended tax return 2013 If they have a fixed base available, they are taxed on the income attributable to the fixed base. Filing amended tax return 2013 Income that residents of Estonia receive for services performed in the United States as employees (dependent personal services) is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if the following requirements are met. Filing amended tax return 2013 The resident is in the United States for no more than 183 days in any 12-month period beginning or ending in the tax year. Filing amended tax return 2013 The income is paid by, or on behalf of, an employer who is not a U. Filing amended tax return 2013 S. Filing amended tax return 2013 resident. Filing amended tax return 2013 The income is not borne by a permanent establishment or a fixed base that the employer has in the United States. Filing amended tax return 2013 These exemptions do not apply to directors' fees and similar payments received by a resident of Estonia as a member of the board of directors or similar body of a company that is a U. Filing amended tax return 2013 S. Filing amended tax return 2013 resident. Filing amended tax return 2013 Pay received for employment as a member of the regular complement of a ship or an aircraft operated in international traffic by a United States enterprise is subject to U. Filing amended tax return 2013 S. Filing amended tax return 2013 tax. Filing amended tax return 2013 These exemptions do not apply to income residents of Estonia receive as public entertainers (such as theater, motion picture, radio, or television artists, or musicians) or sportsmen if their gross receipts, including reimbursed expenses, are more than $20,000 for their personal activities in the United States during the tax year. Filing amended tax return 2013 Regardless of these limits, income of Estonian entertainers or athletes is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if their visit to the United States is wholly or mainly supported by public funds of Estonia, its political subdivisions, or local authorities. Filing amended tax return 2013 Finland Income that residents of Finland receive for performing personal services as independent contractors or self-employed individuals (independent personal services) in the United States is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if they do not have a fixed base regularly available to them in the United States for performing the services. Filing amended tax return 2013 If they have a fixed base available in the United States, they are taxed on the income attributable to the fixed base. Filing amended tax return 2013 Income that residents of Finland receive for labor or personal services performed in the United States as employees (dependent personal services) is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if the residents meet three requirements. Filing amended tax return 2013 They are in the United States for no more than 183 days during any 12-month period. Filing amended tax return 2013 Their income is paid by, or on behalf of, an employer who is not a resident of the United States. Filing amended tax return 2013 Their income is not borne by a permanent establishment, fixed base, or trade or business that the employer has in the United States. Filing amended tax return 2013 The exemption does not apply to pay received by a resident of Finland who is an employee and member of the regular complement of a ship or aircraft operated in international traffic by a resident of the United States. Filing amended tax return 2013 These exemptions do not apply to income residents of Finland receive as public entertainers or sportsmen if the gross income, including reimbursed expenses, is more than $20,000 for their personal activities in the United States during the calendar year. Filing amended tax return 2013 France Income that residents of France receive for performing personal services as independent contractors or self-employed individuals (independent personal services) in the United States is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if they do not have a fixed base regularly available to them in the United States for performing the services. Filing amended tax return 2013 If they have a fixed base available in the United States, they are taxed on the income attributable to the fixed base. Filing amended tax return 2013 Income that residents of France receive for labor or personal services performed in the United States as employees (dependent personal services) is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if the residents meet three requirements. Filing amended tax return 2013 They are in the United States for no more than 183 days in any 12-month period. Filing amended tax return 2013 Their income is paid by, or on behalf of, an employer who is not a resident of the United States. Filing amended tax return 2013 Their income is not borne by a permanent establishment or a fixed base that the employer has in the United States. Filing amended tax return 2013 Income for services performed by a resident of France as an employee and member of the regular complement of a ship or an aircraft operated in international traffic is exempt from tax in the United States. Filing amended tax return 2013 These exemptions do not apply to public entertainers (such as theater, motion picture, radio, or television artists, or musicians), or sportsmen from France who earn more than $10,000 in gross receipts, including reimbursed expenses, from their entertainment activities in the United States during the tax year. Filing amended tax return 2013 Regardless of these limits, income of French entertainers or sportsmen is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 tax if their visit is principally supported by public funds of France. Filing amended tax return 2013 These exemptions do not apply to directors' fees and similar payments received by a resident of France as a member of the board of directors of a company that is a resident of the United States. Filing amended tax return 2013 Germany Income that residents of Germany receive for personal services as independent contractors or self-employed individuals are subject to the provisions of Article 7 (Business Profits) of the treaty. Filing amended tax return 2013 Under that provision, business profits are exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax unless the individual has a permanent establishment in the United States. Filing amended tax return 2013 If they have a permanent establishment in the United States, they are taxed on the profit attributable to the permanent establishment. Filing amended tax return 2013 Income that residents of Germany receive for labor or personal services performed in the United States as employees (dependent personal services) is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 tax if the residents meet three requirements. Filing amended tax return 2013 They are in the United States for no more than 183 days during the calendar year. Filing amended tax return 2013 The income is paid by, or on behalf of, an employer who is not a resident of the United States. Filing amended tax return 2013 The income is not borne by a permanent establishment that the employer has in the United States. Filing amended tax return 2013 Pay received by a resident of Germany for services performed as an employee and member of the regular complement of a ship or aircraft operated in international traffic is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 tax. Filing amended tax return 2013 The exemption does not apply to directors' fees and other similar payments received by a resident of Germany for services performed in the United States as a member of the board of directors of a company resident in the United States. Filing amended tax return 2013 Income residents of Germany receive as public entertainers (such as theater, motion picture, radio, or television artists, or musicians) or athletes is subject to U. Filing amended tax return 2013 S. Filing amended tax return 2013 tax if their gross receipts, including reimbursed expenses, from their entertainment activities in the United States are more than $20,000 during the calendar year. Filing amended tax return 2013 Income of German entertainers or athletes is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 tax if their visit to the United States is substantially supported by public funds of Germany, its political subdivisions, or local authorities. Filing amended tax return 2013 Greece Income that residents of Greece receive for labor or personal services (including practicing liberal and artistic professions) is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if they are in the United States for no more than 183 days during the tax year and the pay is not more than $10,000. Filing amended tax return 2013 The pay, regardless of amount, is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if it is for labor or personal services performed as employees of, or under contract with, a resident of Greece or a Greek corporation or other entity of Greece, and if the residents are in the United States for no more than 183 days during the tax year. Filing amended tax return 2013 Hungary Income that residents of Hungary receive for performing personal services as independent contractors or self-employed individuals (independent personal services) in the United States during the tax year is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 tax if the residents: Are in the United States for no more than 183 days during the tax year, and Do not have a fixed base regularly available in the United States. Filing amended tax return 2013 If they have a fixed base available in the United States, they are taxed on the income attributable to the fixed base. Filing amended tax return 2013 Income that residents of Hungary receive for labor or personal services performed in the United States as employees (dependent personal services) is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if the residents meet three requirements. Filing amended tax return 2013 They are in the United States for no more than 183 days during the tax year. Filing amended tax return 2013 Their income is paid by or on behalf of an employer who is not a resident of the United States. Filing amended tax return 2013 Their income is not borne by a permanent establishment or a fixed base that the employer has in the United States. Filing amended tax return 2013 Pay received by an employee who is a member of the regular complement of a ship or aircraft operated by a Hungarian enterprise in international traffic is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 tax. Filing amended tax return 2013 If the ship or aircraft is operated by a U. Filing amended tax return 2013 S. Filing amended tax return 2013 enterprise, the pay is subject to U. Filing amended tax return 2013 S. Filing amended tax return 2013 tax. Filing amended tax return 2013 Iceland Income that residents of Iceland receive for personal services as independent contractors or self-employed individuals is subject to the provisions of Article 7 (Business Profits) of the treaty. Filing amended tax return 2013 Under that provision, business profits are exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax unless the individual has a permanent establishment in the United States. Filing amended tax return 2013 If they have a permanent establishment in the United States, they are taxed on the profit attributable to the permanent establishment. Filing amended tax return 2013 Income that residents of Iceland receive for services performed in the United States as employees (dependent personal services) is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if the residents meet the following requirements. Filing amended tax return 2013 They are in the United States for no more than 183 days in any 12-month period beginning or ending in the tax year. Filing amended tax return 2013 Their income is paid by, or on behalf of, an employer who is not a U. Filing amended tax return 2013 S. Filing amended tax return 2013 resident. Filing amended tax return 2013 Their income is not borne by a permanent establishment that the employer has in the United States. Filing amended tax return 2013 The exemption does not apply to directors' fees and similar payments received by a resident of Iceland as a member of the board of directors of a U. Filing amended tax return 2013 S. Filing amended tax return 2013 company. Filing amended tax return 2013 Public entertainers (such as theater, motion picture, radio, or television artists, musicians, or athletes) from Iceland who earn more than $20,000 in gross receipts, including reimbursed expenses, from their entertainment activities in the United States during the tax year are subject to U. Filing amended tax return 2013 S. Filing amended tax return 2013 tax. Filing amended tax return 2013 Income received by a resident of Iceland for services performed as an employee and member of the regular complement of a ship or aircraft operated in international traffic is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax. Filing amended tax return 2013 India Income that residents of India receive for performing personal services in the United States during the tax year as independent contractors or self-employed individuals (independent personal services) is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if the residents: Are present in the United States for no more than 89 days during the tax year, and Do not have a fixed base regularly available to them in the United States for performing the services. Filing amended tax return 2013 If they have a fixed base available, they are taxed only on income attributable to the fixed base. Filing amended tax return 2013 Income that residents of India receive for personal services performed in the United States as employees (dependent personal services) is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if the residents meet three requirements. Filing amended tax return 2013 They are present in the United States for no more than 183 days during the tax year. Filing amended tax return 2013 The income is paid by, or on behalf of, an employer who is not a resident of the United States. Filing amended tax return 2013 The income is not borne by a permanent establishment, fixed base, or trade or business the employer has in the United States. Filing amended tax return 2013 The exemption does not apply to pay received by a resident of India for services performed as an employee aboard a ship or aircraft operated in international traffic by a U. Filing amended tax return 2013 S. Filing amended tax return 2013 enterprise. Filing amended tax return 2013 These exemptions do not apply to directors' fees and similar payments received by an Indian resident as a member of the board of directors of a company that is a U. Filing amended tax return 2013 S. Filing amended tax return 2013 resident. Filing amended tax return 2013 These exemptions do not apply to income residents of India receive as public entertainers (such as theater, motion picture, radio, or television artists, or musicians) or athletes if their net income is more than $1,500 during the tax year for their entertainment activities in the United States. Filing amended tax return 2013 Regardless of this limit, the income of Indian entertainers and athletes is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 tax if their visit to the United States is wholly or substantially supported from the public funds of the Indian Government, its political subdivisions, or local authorities. Filing amended tax return 2013 Indonesia Income that residents of Indonesia receive for performing personal services as individual contractors or self-employed individuals (independent personal services) in the United States during the tax year is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if the residents: Are present in the United States for no more than 119 days during any consecutive 12-month period, and Do not have a fixed base regularly available to them in the United States for performing the services. Filing amended tax return 2013 If they have a fixed base available, they are taxed only on the income attributable to the fixed base. Filing amended tax return 2013 Income that residents of Indonesia receive for personal services performed in the United States as employees (dependent personal services) is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if the residents meet three requirements. Filing amended tax return 2013 They are present in the United States no more than 119 days during any consecutive 12-month period. Filing amended tax return 2013 The income is paid by, or on behalf of, an employer who is not a resident of the United States. Filing amended tax return 2013 The income is not borne or reimbursed by a permanent establishment the employer has in the United States. Filing amended tax return 2013 Pay received by an individual for services performed as an employee aboard a ship or aircraft operated by an Indonesian resident in international traffic is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 tax if the individual is a member of the regular complement of the ship or aircraft. Filing amended tax return 2013 These exemptions do not apply to income residents of Indonesia receive as public entertainers (such as theater, motion picture, radio, or television artists, or musicians) or athletes if their gross receipts, including reimbursed expenses, are more than $2,000 during any consecutive 12-month period. Filing amended tax return 2013 Regardless of these limits, income of Indonesian entertainers and athletes is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 tax if their visit to the United States is substantially supported or sponsored by the Indonesian Government and the Indonesian competent authority certifies that the entertainers or athletes qualify for this exemption. Filing amended tax return 2013 Ireland Income that residents of Ireland receive for personal services as independent contractors or self-employed individuals (independent personal services) in the United States is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if they do not have a fixed base regularly available to them in the United States for performing the services. Filing amended tax return 2013 If they have a fixed base available in the United States, they are taxed on the income attributable to the fixed base. Filing amended tax return 2013 Income that residents of Ireland receive for services performed in the United States as employees (dependent personal services) is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if the residents meet the following requirements. Filing amended tax return 2013 They are in the United States for no more than 183 days in any 12-month period beginning or ending in the tax year. Filing amended tax return 2013 Their income is paid by, or on behalf of, an employer who is not a U. Filing amended tax return 2013 S. Filing amended tax return 2013 resident. Filing amended tax return 2013 Their income is not borne by a permanent establishment or a fixed base that the employer has in the United States. Filing amended tax return 2013 These exemptions do not apply to directors' fees and similar payments received by a resident of Ireland as a member of the board of directors of a company that is a resident of the United States. Filing amended tax return 2013 However, amounts received for attending meetings in Ireland are not subject to U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax. Filing amended tax return 2013 Income received by a resident of Ireland for services performed as an employee and member of the regular complement of a ship or aircraft operated in international traffic is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax. Filing amended tax return 2013 These exemptions do not apply to public entertainers (such as theater, motion picture, radio, or television entertainers, musicians, and athletes) from Ireland who earn more than $20,000 in gross receipts, including reimbursed expenses, from their entertainment activities in the United States during the tax year. Filing amended tax return 2013 Israel Income that residents of Israel receive for performing personal services as independent contractors or as self-employed individuals (independent personal services) in the United States during the tax year is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if they are in the United States for no more than 182 days during the tax year. Filing amended tax return 2013 Income that residents of Israel receive for labor or personal services performed in the United States as employees (dependent personal services), including income for services performed by an officer of a corporation or company, is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if the residents meet four requirements. Filing amended tax return 2013 They are in the United States for no more than 182 days during the tax year. Filing amended tax return 2013 They are employees of a resident of, or a permanent establishment in, Israel. Filing amended tax return 2013 Their income is not borne by a permanent establishment that the employer has in the United States. Filing amended tax return 2013 Their income is subject to Israeli tax. Filing amended tax return 2013 The exemption does not apply to pay received by an employee for labor or personal services performed as a member of the regular complement of a ship or an aircraft operated in international traffic by a U. Filing amended tax return 2013 S. Filing amended tax return 2013 resident. Filing amended tax return 2013 These exemptions do not apply to income that residents of Israel receive as public entertainers (such as theater, motion picture, radio, or television artists, musicians, or athletes), if the gross amount of the income is more than $400 for each day they are in the United States performing the services. Filing amended tax return 2013 Italy Income that residents of Italy receive for personal services as independent contractors or self-employed individuals (independent personal services) in the United States is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if they do not have a fixed base regularly available to them in the United States for performing the services. Filing amended tax return 2013 If they have a fixed base available in the United States, they are taxed on the income attributable to the fixed base. Filing amended tax return 2013 Income that residents of Italy receive for labor or personal services performed in the United States as employees (dependent personal services) is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if the following requirements are met. Filing amended tax return 2013 The residents are in the United States for no more than 183 days during the tax year. Filing amended tax return 2013 The income is paid by, or on behalf of, an employer who is not a resident of the United States. Filing amended tax return 2013 The income is not borne by a permanent establishment or a fixed base that the employer has in the United States. Filing amended tax return 2013 These exemptions do not apply to directors' fees and similar payments received by a resident of Italy for services performed in the United States as a member of the board of directors of a company that is a U. Filing amended tax return 2013 S. Filing amended tax return 2013 resident. Filing amended tax return 2013 Pay received for employment regularly exercised aboard a ship or aircraft operated by a U. Filing amended tax return 2013 S. Filing amended tax return 2013 enterprise is subject to U. Filing amended tax return 2013 S. Filing amended tax return 2013 tax. Filing amended tax return 2013 These exemptions do not apply to income residents of Italy receive as public entertainers (such as theater, motion picture, radio, or television artists, musicians, or athletes) if they are present in the United States for more than 90 days during the tax year or their gross receipts, including reimbursed expenses, are more than $20,000 during the tax year for their entertainment activities in the United States. Filing amended tax return 2013 Jamaica Income that residents of Jamaica receive for the performance of personal services as independent contractors or self-employed individuals (independent personal services) in the United States during the tax year is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if the residents: Are in the United States for no more than 89 days during the tax year, Do not have a fixed base regularly available to them in the United States for performing their services, and Earn net income for those services that is not more than $5,000 during the tax year if the income is from a U. Filing amended tax return 2013 S. Filing amended tax return 2013 contractor. Filing amended tax return 2013 If they have a fixed base available in the United States, they are taxed only on the income that is attributable to the fixed base. Filing amended tax return 2013 There is no dollar limit for condition (3) if the contractor is from a country other than the United States. Filing amended tax return 2013 Income that residents of Jamaica receive for personal services performed in the United States as employees (dependent personal services) is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if the residents meet four requirements. Filing amended tax return 2013 They are in the United States for no more than 183 days during the tax year. Filing amended tax return 2013 Their income is paid by or for an employer who is not a resident of the United States. Filing amended tax return 2013 Their income is not borne by a permanent establishment or a fixed base that the employer has in the United States. Filing amended tax return 2013 Their net income received for the services is not more than $5,000 during the tax year. Filing amended tax return 2013 Pay received from employment as a member of the regular complement of a ship or an aircraft operated in international traffic by a Jamaican enterprise is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 tax. Filing amended tax return 2013 If the ship or aircraft is operated by a U. Filing amended tax return 2013 S. Filing amended tax return 2013 enterprise, the pay is subject to U. Filing amended tax return 2013 S. Filing amended tax return 2013 tax. Filing amended tax return 2013 These exemptions do not apply to income that residents of Jamaica receive for performing services in the United States as entertainers, such as theater, motion picture, radio, or television artists, musicians, or athletes, if the gross receipts (excluding reimbursements for expenses) from the services are more than $400 a day or $5,000 for the tax year. Filing amended tax return 2013 Directors' fees received by residents of Jamaica for services performed in the United States as members of boards of directors of U. Filing amended tax return 2013 S. Filing amended tax return 2013 corporations are exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 tax if the fees (excluding reimbursed expenses) are not more than $400 per day for each day the directors are present in the United States to perform the services. Filing amended tax return 2013 Japan Income that residents of Japan receive for personal services as independent contractors or self-employed individuals is subject to the provisions of Article 7 (business profits) of the treaty. Filing amended tax return 2013 Under that provision, business profits are exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax unless the individual has a permanent establishment in the United States. Filing amended tax return 2013 If they have a permanent establishment in the United States, they are taxed on the profits attributable to the permanent establishment. Filing amended tax return 2013 Income that residents of Japan receive for services performed in the United States as employees (dependent personal services) is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if the residents meet the following requirements. Filing amended tax return 2013 They are in the United States for no more than 183 days in any 12-month period beginning or ending in the tax year. Filing amended tax return 2013 Their income is paid by, or on behalf of, an employer who is not a U. Filing amended tax return 2013 S. Filing amended tax return 2013 resident. Filing amended tax return 2013 Their income is not borne by a permanent establishment that the employer has in the United States. Filing amended tax return 2013 The exemption does not apply to directors' fees and similar payments received by a resident of Japan for services performed as a member of the board of directors of a company that is a resident of the United States. Filing amended tax return 2013 The exemption does not apply to a resident of Japan who performs services as an employee aboard a ship or an aircraft operated in international traffic by a U. Filing amended tax return 2013 S. Filing amended tax return 2013 resident. Filing amended tax return 2013 Public entertainers (such as theater, motion picture, radio, or television artists, musicians, or athletes) from Japan who earn more than $10,000 in gross receipts, including reimbursed expenses, from their entertainment activities in the United States during the tax year are subject to U. Filing amended tax return 2013 S. Filing amended tax return 2013 tax. Filing amended tax return 2013 Kazakhstan Income that residents of Kazakhstan receive for performing personal services as independent contractors or self-employed individuals (independent personal services) in the United States is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if: The residents are in the United States for no more than 183 days in any consecutive 12-month period, and The income is not attributable to a fixed base in the United States which is regularly available to the residents. Filing amended tax return 2013 If the residents have a fixed base available, they are taxed only on the income attributable to the fixed base. Filing amended tax return 2013 Income that residents of Kazakhstan receive for employment in the United States (dependent personal services) is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if the following three requirements are met. Filing amended tax return 2013 The resident is in the United States for no more than 183 days in any 12-month period. Filing amended tax return 2013 The income is paid by, or on behalf of, an employer who is not a resident of the United States. Filing amended tax return 2013 The income is not borne by a permanent establishment or a fixed base that the employer has in the United States. Filing amended tax return 2013 Income derived by a resident of Kazakhstan from employment as a member of the regular complement of a ship or aircraft operated in international traffic is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 tax. Filing amended tax return 2013 These exemptions do not apply to directors' fees and similar payments received by a resident of Kazakhstan as a member of the board of directors or similar body of a company that is a U. Filing amended tax return 2013 S. Filing amended tax return 2013 resident. Filing amended tax return 2013 Korea, South Income that residents of South Korea receive for performing personal services as independent contractors or self-employed individuals (independent personal services) in the United States during the tax year is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 tax if the residents: Are in the United States for no more than 182 days during the tax year, Earn income for those services that is not more than $3,000 during the tax year, and Do not maintain a fixed base in the United States for more than 182 days during the tax year. Filing amended tax return 2013 If they maintain a fixed base in the United States for more than 182 days, they are taxed on the income attributable to the fixed base. Filing amended tax return 2013 Income that residents of Korea receive for labor or personal services performed in the United States as employees (dependent personal services), including pay for services performed as an officer of a corporation, is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 tax if the residents meet four requirements. Filing amended tax return 2013 They are in the United States for no more than 182 days during the tax year. Filing amended tax return 2013 They are employees of a resident of Korea or of a permanent establishment maintained in Korea. Filing amended tax return 2013 Their compensation is not borne by a permanent establishment that the employer has in the United States. Filing amended tax return 2013 Their income for those services is not more than $3,000. Filing amended tax return 2013 Pay received by employees who are members of the regular complement of a ship or aircraft operated by a resident of Korea in international traffic is exempt. Filing amended tax return 2013 Latvia Income that residents of Latvia receive for performing personal services as independent contractors or self-employed individuals (independent personal services) in the United States is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if the residents: Are in the United States for no more than 183 days in any 12-month period beginning or ending in the tax year, and Do not have a fixed base regularly available to them in the United States for performing the services. Filing amended tax return 2013 If they have a fixed base available, they are taxed only on the income attributable to the fixed base. Filing amended tax return 2013 Income that residents of Latvia receive for services performed in the United States as employees (dependent personal services) is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if the following requirements are met. Filing amended tax return 2013 The resident is in the United States for no more than 183 days in any 12-month period beginning or ending in the tax year. Filing amended tax return 2013 The income is paid by, or on behalf of, an employer who is not a U. Filing amended tax return 2013 S. Filing amended tax return 2013 resident. Filing amended tax return 2013 The income is not borne by a permanent establishment or a fixed base that the employer has in the United States. Filing amended tax return 2013 The exemption does not apply to pay received for employment as a member of the regular complement of a ship or an aircraft operated in international traffic by a U. Filing amended tax return 2013 S. Filing amended tax return 2013 enterprise. Filing amended tax return 2013 The exemptions do not apply to directors' fees and similar payments received by a resident of Latvia as a member of the board of directors or similar body of a company that is a U. Filing amended tax return 2013 S. Filing amended tax return 2013 resident. Filing amended tax return 2013 The exemptions do not apply to income residents of Latvia receive as public entertainers (such as theater, motion picture, radio, or television artists, or musicians) or sportsmen if their gross receipts, including reimbursed expenses, are more than $20,000 for their personal activities in the United States during the tax year. Filing amended tax return 2013 Regardless of these limits, income of Latvian entertainers or athletes is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if their visit to the United States is wholly or mainly supported by public funds of Latvia, its political subdivisions, or local authorities. Filing amended tax return 2013 Lithuania Income that residents of Lithuania receive for performing personal services as independent contractors or self-employed individuals (independent personal services) in the United States is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if the residents: Are in the United States for no more than 183 days in any 12-month period beginning or ending in the tax year, and Do not have a fixed base regularly available to them in the United States for performing the services. Filing amended tax return 2013 If they have a fixed base available, they are taxed only on the income attributable to the fixed base. Filing amended tax return 2013 Income that residents of Lithuania receive for services performed in the United States as employees (dependent personal services) is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if the following requirements are met. Filing amended tax return 2013 The resident is in the United States for no more than 183 days in any 12-month period beginning or ending in the tax year. Filing amended tax return 2013 The income is paid by, or on behalf of, an employer who is not a U. Filing amended tax return 2013 S. Filing amended tax return 2013 resident. Filing amended tax return 2013 The income is not borne by a permanent establishment or a fixed base that the employer has in the United States. Filing amended tax return 2013 The exemption does not apply to pay received for employment as a member of the regular complement of a ship or an aircraft operated in international traffic by a U. Filing amended tax return 2013 S. Filing amended tax return 2013 enterprise. Filing amended tax return 2013 The exemptions do not apply to directors' fees and similar payments received by a resident of Lithuania as a member of the board of directors or similar body of a company that is a U. Filing amended tax return 2013 S. Filing amended tax return 2013 resident. Filing amended tax return 2013 The exemptions do not apply to income residents of Lithuania receive as public entertainers (such as theater, motion picture, radio, or television artists, or musicians) or sportsmen if their gross receipts, including reimbursed expenses, are more than $20,000 for their personal activities in the United States during the tax year. Filing amended tax return 2013 Regardless of these limits, income of Lithuanian entertainers or athletes is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if their visit to the United States is wholly or mainly supported by public funds of Lithuania, its political subdivisions, or local authorities. Filing amended tax return 2013 Luxembourg Income that residents of Luxembourg receive for personal services as independent contractors or self-employed individuals (independent personal services) in the United States is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if they do not have a fixed base regularly available to them in the United States for performing the services. Filing amended tax return 2013 If they have a fixed base available in the United States, they are taxed on the income attributable to the fixed base. Filing amended tax return 2013 Income that residents of Luxembourg receive for services performed in the United States as employees (dependent personal services) is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if the residents meet the following requirements. Filing amended tax return 2013 They are in the United States for no more than 183 days in any 12-month period beginning or ending in the tax year. Filing amended tax return 2013 Their income is paid by, or on behalf of, an employer who is not a U. Filing amended tax return 2013 S. Filing amended tax return 2013 resident. Filing amended tax return 2013 Their income is not borne by a permanent establishment or a fixed base that the employer has in the United States. Filing amended tax return 2013 The exemption does not apply to pay received for employment exercised continuously or predominantly aboard a ship or aircraft operated in international traffic by a U. Filing amended tax return 2013 S. Filing amended tax return 2013 enterprise. Filing amended tax return 2013 The exemptions do not apply to directors' fees and similar payments received by a resident of Luxembourg for services performed in the United States as a member of the board of directors of a company that is a resident of the United States. Filing amended tax return 2013 The exemptions do not apply to public entertainers (such as theater, motion picture, radio, or television artists, musicians, or athletes) from Luxembourg who earn more than $10,000 in gross receipts, including reimbursed expenses, from their entertainment activities in the United States during the tax year. Filing amended tax return 2013 Malta Income that residents of Malta receive for personal services as independent contractors or self-employed individuals is subject to the provisions of Article 7 (Business Profits) of the treaty. Filing amended tax return 2013 Under that provision, business profits are exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax unless the individual has a permanent establishment in the United States. Filing amended tax return 2013 If they have a permanent establishment in the United States, they are taxed on the profits attributable to the permanent establishment. Filing amended tax return 2013 Income that residents of Malta receive for services performed in the United States as employees (dependent personal services) is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if the residents meet the following requirements. Filing amended tax return 2013 They are in the United States for no more than 183 days in any 12-month period beginning or ending in the tax year. Filing amended tax return 2013 Their income is paid by, or on behalf of, an employer who is not a U. Filing amended tax return 2013 S. Filing amended tax return 2013 resident. Filing amended tax return 2013 Their income is not borne by a permanent establishment that the employer has in the United States. Filing amended tax return 2013 The exemption does not apply to directors' fees and similar payments received by a resident of Malta for services performed in the United States as a member of the board of directors of a company that is a resident of the United States. Filing amended tax return 2013 Public entertainers (such as theater, motion picture, radio, or television artists, musicians, or athletes) from Malta who earn more than $20,000 in gross receipts, including reimbursed expenses, from their entertainment activities in the United States during the tax year are subject to U. Filing amended tax return 2013 S. Filing amended tax return 2013 tax. Filing amended tax return 2013 Income received by a resident of Malta for employment aboard a ship or an aircraft operated in international traffic is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if the individual is a member of the regular complement of the ship or aircraft. Filing amended tax return 2013 Mexico Income that residents of Mexico receive for performing personal services as independent contractors or self-employed individuals (independent personal services) in the United States is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if the residents: Are in the United States for no more than 182 days in a 12-month period, and Do not have a fixed base that they regularly use for performing the services. Filing amended tax return 2013 If they have a fixed base available, they are taxed only on income attributable to the fixed base. Filing amended tax return 2013 Income that residents of Mexico receive for employment in the United States (dependent personal services) is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 tax if the following three requirements are met. Filing amended tax return 2013 The resident is present in the United States for no more than 183 days in a 12-month period. Filing amended tax return 2013 The income is paid by, or on behalf of, an employer who is not a resident of the United States. Filing amended tax return 2013 The income is not borne by a permanent establishment or fixed base that the employer has in the United States. Filing amended tax return 2013 These exemptions do not apply to directors' fees and similar payments received by a resident of Mexico for services performed outside Mexico as a director or overseer of a company that is a U. Filing amended tax return 2013 S. Filing amended tax return 2013 resident. Filing amended tax return 2013 These exemptions do not apply to income residents of Mexico receive as public entertainers (such as theater, motion picture, radio, or television artists, or musicians) or athletes if the income, including reimbursed expenses, is more than $3,000 during the tax year for their entertainment activities in the United States. Filing amended tax return 2013 This includes income from activities performed in the United States relating to the entertainer or athlete's reputation, such as endorsements of commercial products. Filing amended tax return 2013 Regardless of this limit, the income of Mexican entertainers and athletes is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 tax if their visit to the United States is substantially supported by public funds of Mexico, its political subdivisions, or local authorities. Filing amended tax return 2013 Morocco Income that residents of Morocco receive for performing personal services as independent contractors or as self-employed persons (independent personal services) in the United States during the tax year is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if the residents: Are in the United States for no more than 182 days during the tax year, Do not maintain a fixed base in the United States for more than 89 days during the tax year, and Earn total income for those services that is not more than $5,000. Filing amended tax return 2013 If they have a fixed base in the United States for more than 89 days, they are taxed only on the income attributable to the fixed base. Filing amended tax return 2013 Income that residents of Morocco receive for labor or personal services performed in the United States as employees (dependent personal services) is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if the residents meet three requirements. Filing amended tax return 2013 They are in the United States for less than 183 days during the tax year. Filing amended tax return 2013 They are employees of a resident of Morocco or of a permanent establishment of a resident of a country other than Morocco if the permanent establishment is located in Morocco. Filing amended tax return 2013 Their income is not borne by a permanent establishment that the employer has in the United States. Filing amended tax return 2013 Compensation received for services performed by a member of the board of directors of a corporation does not qualify for this exemption. Filing amended tax return 2013 Income received by an individual for performing labor or personal services as an employee aboard a ship or an aircraft operated in international traffic by a Moroccan resident is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if the individual is a member of the regular complement of the ship or aircraft. Filing amended tax return 2013 These exemptions do not apply to income received for services performed in the United States by professional entertainers, including theater, film, radio, and television performers, musicians, and athletes, unless the services are performed by, or for the account of, a Moroccan nonprofit organization. Filing amended tax return 2013 Netherlands Income that residents of the Netherlands receive for performing personal services as independent contractors or self-employed individuals (independent personal services) in the United States is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if the income is not attributable to a fixed base in the United States that is regularly available for performing the services. Filing amended tax return 2013 Income that residents of the Netherlands receive for employment in the United States (dependent personal services) is exempt from U. Filing amended tax return 2013 S. Filing amended tax return 2013 income tax if the following three requirements are met. Filing amended tax return 2013 The resident is in the United States for no more than 183 days during the tax year. Filing amended tax return 2013 The income is paid by, or on behalf of, an employer who is not a U. Filing amended tax return 2013 S. Filing amended tax return 2013 resident. Filing amended tax return 2013 The income is not borne by a permanent establishment or fixed base the employer has in the United States. Filing amended tax return 2013 Income received by a Netherlands resident for employment as a member of the regular complement of a ship or
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The Filing Amended Tax Return 2013

Filing amended tax return 2013 5. Filing amended tax return 2013   Business Income Table of Contents Introduction Kinds of IncomeBartering for Property or Services Real Estate Rents Personal Property Rents Interest and Dividend Income Canceled Debt Other Income Items That Are Not IncomeAmount you can exclude. Filing amended tax return 2013 Short-term lease. Filing amended tax return 2013 Retail space. Filing amended tax return 2013 Qualified long-term real property. Filing amended tax return 2013 Guidelines for Selected Occupations Accounting for Your Income Introduction This chapter primarily explains business income and how to account for it on your tax return, what items are not considered income, and gives guidelines for selected occupations. Filing amended tax return 2013 If there is a connection between any income you receive and your business, the income is business income. Filing amended tax return 2013 A connection exists if it is clear that the payment of income would not have been made if you did not have the business. Filing amended tax return 2013 You can have business income even if you are not involved in the activity on a regular full-time basis. Filing amended tax return 2013 Income from work you do on the side in addition to your regular job can be business income. Filing amended tax return 2013 You report most business income, such as income from selling your products or services, on Schedule C or C-EZ. Filing amended tax return 2013 But you report the income from the sale of business assets, such as land and office buildings, on other forms instead of Schedule C or C-EZ. Filing amended tax return 2013 For information on selling business assets, see chapter 3. Filing amended tax return 2013 Nonemployee compensation. Filing amended tax return 2013 Business income includes amounts you received in your business that were properly shown on Forms 1099-MISC. Filing amended tax return 2013 This includes amounts reported as nonemployee compensation in box 7 of the form. Filing amended tax return 2013 You can find more information in the instructions on the back of the Form 1099-MISC you received. Filing amended tax return 2013 Kinds of Income You must report on your tax return all income you receive from your business unless it is excluded by law. Filing amended tax return 2013 In most cases, your business income will be in the form of cash, checks, and credit card charges. Filing amended tax return 2013 But business income can be in other forms, such as property or services. Filing amended tax return 2013 These and other types of income are explained next. Filing amended tax return 2013 If you are a U. Filing amended tax return 2013 S. Filing amended tax return 2013 citizen who has business income from sources outside the United States (foreign income), you must report that income on your tax return unless it is exempt from tax under U. Filing amended tax return 2013 S. Filing amended tax return 2013 law. Filing amended tax return 2013 If you live outside the United States, you may be able to exclude part or all of your foreign-source business income. Filing amended tax return 2013 For details, see Publication 54, Tax Guide for U. Filing amended tax return 2013 S. Filing amended tax return 2013 Citizens and Resident Aliens Abroad. Filing amended tax return 2013 Bartering for Property or Services Bartering is an exchange of property or services. Filing amended tax return 2013 You must include in your gross receipts, at the time received, the fair market value of property or services you receive in exchange for something else. Filing amended tax return 2013 If you exchange services with another person and you both have agreed ahead of time on the value of the services, that value will be accepted as the fair market value unless the value can be shown to be otherwise. Filing amended tax return 2013 Example 1. Filing amended tax return 2013 You are a self-employed lawyer. Filing amended tax return 2013 You perform legal services for a client, a small corporation. Filing amended tax return 2013 In payment for your services, you receive shares of stock in the corporation. Filing amended tax return 2013 You must include the fair market value of the shares in income. Filing amended tax return 2013 Example 2. Filing amended tax return 2013 You are an artist and create a work of art to compensate your landlord for the rent-free use of your apartment. Filing amended tax return 2013 You must include the fair rental value of the apartment in your gross receipts. Filing amended tax return 2013 Your landlord must include the fair market value of the work of art in his or her rental income. Filing amended tax return 2013 Example 3. Filing amended tax return 2013 You are a self-employed accountant. Filing amended tax return 2013 Both you and a house painter are members of a barter club, an organization that each year gives its members a directory of members and the services each member provides. Filing amended tax return 2013 Members get in touch with other members directly and bargain for the value of the services to be performed. Filing amended tax return 2013 In return for accounting services you provided for the house painter's business, the house painter painted your home. Filing amended tax return 2013 You must include in gross receipts the fair market value of the services you received from the house painter. Filing amended tax return 2013 The house painter must include the fair market value of your accounting services in his or her gross receipts. Filing amended tax return 2013 Example 4. Filing amended tax return 2013 You are a member of a barter club that uses credit units to credit or debit members' accounts for goods or services provided or received. Filing amended tax return 2013 As soon as units are credited to your account, you can use them to buy goods or services or sell or transfer the units to other members. Filing amended tax return 2013 You must include the value of credit units you received in your gross receipts for the tax year in which the units are credited to your account. Filing amended tax return 2013 The dollar value of units received for services by an employee of the club, who can use the units in the same manner as other members, must be included in the employee's gross income for the tax year in which received. Filing amended tax return 2013 It is wages subject to social security and Medicare taxes (FICA), federal unemployment taxes (FUTA), and income tax withholding. Filing amended tax return 2013 See Publication 15 (Circular E), Employer's Tax Guide. Filing amended tax return 2013 Example 5. Filing amended tax return 2013 You operate a plumbing business and use the cash method of accounting. Filing amended tax return 2013 You join a barter club and agree to provide plumbing services to any member for a specified number of hours. Filing amended tax return 2013 Each member has access to a directory that lists the members of the club and the services available. Filing amended tax return 2013 Members contact each other directly and request services to be performed. Filing amended tax return 2013 You are not required to provide services unless requested by another member, but you can use as many of the offered services as you wish without paying a fee. Filing amended tax return 2013 You must include the fair market value of any services you receive from club members in your gross receipts when you receive them even if you have not provided any services to club members. Filing amended tax return 2013 Information returns. Filing amended tax return 2013   If you are involved in a bartering transaction, you may have to file either of the following forms. Filing amended tax return 2013 Form 1099-B, Proceeds From Broker and Barter Exchange Transactions. Filing amended tax return 2013 Form 1099-MISC, Miscellaneous Income. Filing amended tax return 2013 For information about these forms, see the General Instructions for Certain Information Returns. Filing amended tax return 2013 Real Estate Rents If you are a real estate dealer who receives income from renting real property or an owner of a hotel, motel, etc. Filing amended tax return 2013 , who provides services (maid services, etc. Filing amended tax return 2013 ) for guests, report the rental income and expenses on Schedule C or C-EZ. Filing amended tax return 2013 If you are not a real estate dealer or the kind of owner described in the preceding sentence, report the rental income and expenses on Schedule E. Filing amended tax return 2013 For more information, see Publication 527, Residential Rental Property (Including Rental of Vacation Homes). Filing amended tax return 2013 Real estate dealer. Filing amended tax return 2013   You are a real estate dealer if you are engaged in the business of selling real estate to customers with the purpose of making a profit from those sales. Filing amended tax return 2013 Rent you receive from real estate held for sale to customers is subject to SE tax. Filing amended tax return 2013 However, rent you receive from real estate held for speculation or investment is not subject to SE tax. Filing amended tax return 2013 Trailer park owner. Filing amended tax return 2013   Rental income from a trailer park is subject to SE tax if you are a self-employed trailer park owner who provides trailer lots and facilities and substantial services for the convenience of your tenants. Filing amended tax return 2013    You generally are considered to provide substantial services for tenants if they are primarily for the tenants' convenience and normally are not provided to maintain the lots in a condition for occupancy. Filing amended tax return 2013 Services are substantial if the compensation for the services makes up a material part of the tenants' rental payments. Filing amended tax return 2013   Examples of services that are not normally provided for the tenants' convenience include supervising and maintaining a recreational hall provided by the park, distributing a monthly newsletter to tenants, operating a laundry facility, and helping tenants buy or sell their trailers. Filing amended tax return 2013   Examples of services that are normally provided to maintain the lots in a condition for tenant occupancy include city sewerage, electrical connections, and roadways. Filing amended tax return 2013 Hotels, boarding houses, and apartments. Filing amended tax return 2013   Rental income you receive for the use or occupancy of hotels, boarding houses, or apartment houses is subject to SE tax if you provide services for the occupants. Filing amended tax return 2013   Generally, you are considered to provide services for the occupants if the services are primarily for their convenience and are not services normally provided with the rental of rooms for occupancy only. Filing amended tax return 2013 An example of a service that is not normally provided for the convenience of the occupants is maid service. Filing amended tax return 2013 However, providing heat and light, cleaning stairways and lobbies, and collecting trash are services normally provided for the occupants' convenience. Filing amended tax return 2013 Prepaid rent. Filing amended tax return 2013   Advance payments received under a lease that does not put any restriction on their use or enjoyment are income in the year you receive them. Filing amended tax return 2013 This is true no matter what accounting method or period you use. Filing amended tax return 2013 Lease bonus. Filing amended tax return 2013   A bonus you receive from a lessee for granting a lease is an addition to the rent. Filing amended tax return 2013 Include it in your gross receipts in the year received. Filing amended tax return 2013 Lease cancellation payments. Filing amended tax return 2013   Report payments you receive from your lessee for canceling a lease in your gross receipts in the year received. Filing amended tax return 2013 Payments to third parties. Filing amended tax return 2013   If your lessee makes payments to someone else under an agreement to pay your debts or obligations, include the payments in your gross receipts when the lessee makes the payments. Filing amended tax return 2013 A common example of this kind of income is a lessee's payment of your property taxes on leased real property. Filing amended tax return 2013 Settlement payments. Filing amended tax return 2013   Payments you receive in settlement of a lessee's obligation to restore the leased property to its original condition are income in the amount that the payments exceed the adjusted basis of the leasehold improvements destroyed, damaged, removed, or disconnected by the lessee. Filing amended tax return 2013 Personal Property Rents If you are in the business of renting personal property (equipment, vehicles, formal wear, etc. Filing amended tax return 2013 ), include the rental amount you receive in your gross receipts on Schedule C or C-EZ. Filing amended tax return 2013 Prepaid rent and other payments described in the preceding Real Estate Rents discussion can also be received for renting personal property. Filing amended tax return 2013 If you receive any of those payments, include them in your gross receipts as explained in that discussion. Filing amended tax return 2013 Interest and Dividend Income Interest and dividends may be considered business income. Filing amended tax return 2013 Interest. Filing amended tax return 2013   Interest received on notes receivable that you have accepted in the ordinary course of business is business income. Filing amended tax return 2013 Interest received on loans is business income if you are in the business of lending money. Filing amended tax return 2013 Uncollectible loans. Filing amended tax return 2013   If a loan payable to you becomes uncollectible during the tax year and you use an accrual method of accounting, you must include in gross income interest accrued up to the time the loan became uncollectible. Filing amended tax return 2013 If the accrued interest later becomes uncollectible, you may be able to take a bad debt deduction. Filing amended tax return 2013 See Bad Debts in chapter 8. Filing amended tax return 2013 Unstated interest. Filing amended tax return 2013   If little or no interest is charged on an installment sale, you may have to treat a part of each payment as unstated interest. Filing amended tax return 2013 See Unstated Interest and Original Issue Discount (OID) in Publication 537, Installment Sales. Filing amended tax return 2013 Dividends. Filing amended tax return 2013   Generally, dividends are business income to dealers in securities. Filing amended tax return 2013 For most sole proprietors and statutory employees, however, dividends are nonbusiness income. Filing amended tax return 2013 If you hold stock as a personal investment separately from your business activity, the dividends from the stock are nonbusiness income. Filing amended tax return 2013   If you receive dividends from business insurance premiums you deducted in an earlier year, you must report all or part of the dividend as business income on your return. Filing amended tax return 2013 To find out how much you have to report, see   Recovery of items previously deducted under Other Income, later. Filing amended tax return 2013 Canceled Debt The following explains the general rule for including canceled debt in income and the exceptions to the general rule. Filing amended tax return 2013 General Rule Generally, if your debt is canceled or forgiven, other than as a gift or bequest to you, you must include the canceled amount in your gross income for tax purposes. Filing amended tax return 2013 Report the canceled amount on line 6 of Schedule C if you incurred the debt in your business. Filing amended tax return 2013 If the debt is a nonbusiness debt, report the canceled amount on line 21 of Form 1040. Filing amended tax return 2013 Exceptions The following discussion covers some exceptions to the general rule for canceled debt. Filing amended tax return 2013 Price reduced after purchase. Filing amended tax return 2013   If you owe a debt to the seller for property you bought and the seller reduces the amount you owe, you generally do not have income from the reduction. Filing amended tax return 2013 Unless you are bankrupt or insolvent, treat the amount of the reduction as a purchase price adjustment and reduce your basis in the property. Filing amended tax return 2013 Deductible debt. Filing amended tax return 2013   You do not realize income from a canceled debt to the extent the payment of the debt would have led to a deduction. Filing amended tax return 2013 Example. Filing amended tax return 2013 You get accounting services for your business on credit. Filing amended tax return 2013 Later, you have trouble paying your business debts, but you are not bankrupt or insolvent. Filing amended tax return 2013 Your accountant forgives part of the amount you owe for the accounting services. Filing amended tax return 2013 How you treat the canceled debt depends on your method of accounting. Filing amended tax return 2013 Cash method — You do not include the canceled debt in income because payment of the debt would have been deductible as a business expense. Filing amended tax return 2013 Accrual method — You include the canceled debt in income because the expense was deductible when you incurred the debt. Filing amended tax return 2013   For information on the cash and accrual methods of accounting, see chapter 2. Filing amended tax return 2013 Exclusions Do not include canceled debt in income in the following situations. Filing amended tax return 2013 However, you may be required to file Form 982, Reduction of Tax Attributes Due to Discharge of Indebtedness. Filing amended tax return 2013 For more information, see Form 982. Filing amended tax return 2013 The cancellation takes place in a bankruptcy case under title 11 of the U. Filing amended tax return 2013 S. Filing amended tax return 2013 Code (relating to bankruptcy). Filing amended tax return 2013 See Publication 908, Bankruptcy Tax Guide. Filing amended tax return 2013 The cancellation takes place when you are insolvent. Filing amended tax return 2013 You can exclude the canceled debt to the extent you are insolvent. Filing amended tax return 2013 See Publication 908. Filing amended tax return 2013 The canceled debt is a qualified farm debt owed to a qualified person. Filing amended tax return 2013 See chapter 3 in Publication 225, Farmer's Tax Guide. Filing amended tax return 2013 The canceled debt is a qualified real property business debt. Filing amended tax return 2013 This situation is explained later. Filing amended tax return 2013 The canceled debt is qualified principal residence indebtedness which is discharged after 2006. Filing amended tax return 2013 See Form 982. Filing amended tax return 2013 If a canceled debt is excluded from income because it takes place in a bankruptcy case, the exclusions in situations 2 through 5 do not apply. Filing amended tax return 2013 If it takes place when you are insolvent, the exclusions in situations 3 and 4 do not apply to the extent you are insolvent. Filing amended tax return 2013 Debt. Filing amended tax return 2013   For purposes of this discussion, debt includes any debt for which you are liable or which attaches to property you hold. Filing amended tax return 2013 Qualified real property business debt. Filing amended tax return 2013   You can elect to exclude (up to certain limits) the cancellation of qualified real property business debt. Filing amended tax return 2013 If you make the election, you must reduce the basis of your depreciable real property by the amount excluded. Filing amended tax return 2013 Make this reduction at the beginning of your tax year following the tax year in which the cancellation occurs. Filing amended tax return 2013 However, if you dispose of the property before that time, you must reduce its basis immediately before the disposition. Filing amended tax return 2013 Cancellation of qualified real property business debt. Filing amended tax return 2013   Qualified real property business debt is debt (other than qualified farm debt) that meets all the following conditions. Filing amended tax return 2013 It was incurred or assumed in connection with real property used in a trade or business. Filing amended tax return 2013 It was secured by such real property. Filing amended tax return 2013 It was incurred or assumed at either of the following times. Filing amended tax return 2013 Before January 1, 1993. Filing amended tax return 2013 After December 31, 1992, if incurred or assumed to acquire, construct, or substantially improve the real property. Filing amended tax return 2013 It is debt to which you choose to apply these rules. Filing amended tax return 2013   Qualified real property business debt includes refinancing of debt described in (3) earlier, but only to the extent it does not exceed the debt being refinanced. Filing amended tax return 2013   You cannot exclude more than either of the following amounts. Filing amended tax return 2013 The excess (if any) of: The outstanding principal of qualified real property business debt (immediately before the cancellation), over The fair market value (immediately before the cancellation) of the business real property that is security for the debt, reduced by the outstanding principal amount of any other qualified real property business debt secured by this property immediately before the cancellation. Filing amended tax return 2013 The total adjusted bases of depreciable real property held by you immediately before the cancellation. Filing amended tax return 2013 These adjusted bases are determined after any basis reduction due to a cancellation in bankruptcy, insolvency, or of qualified farm debt. Filing amended tax return 2013 Do not take into account depreciable real property acquired in contemplation of the cancellation. Filing amended tax return 2013 Election. Filing amended tax return 2013   To make this election, complete Form 982 and attach it to your income tax return for the tax year in which the cancellation occurs. Filing amended tax return 2013 You must file your return by the due date (including extensions). Filing amended tax return 2013 If you timely filed your return for the year without making the election, you can still make the election by filing an amended return within 6 months of the due date of the return (excluding extensions). Filing amended tax return 2013 For more information, see When To File in the form instructions. Filing amended tax return 2013 Other Income The following discussion explains how to treat other types of business income you may receive. Filing amended tax return 2013 Restricted property. Filing amended tax return 2013   Restricted property is property that has certain restrictions that affect its value. Filing amended tax return 2013 If you receive restricted stock or other property for services performed, the fair market value of the property in excess of your cost is included in your income on Schedule C or C-EZ when the restriction is lifted. Filing amended tax return 2013 However, you can choose to be taxed in the year you receive the property. Filing amended tax return 2013 For more information on including restricted property in income, see Publication 525, Taxable and Nontaxable Income. Filing amended tax return 2013 Gains and losses. Filing amended tax return 2013   Do not report on Schedule C or C-EZ a gain or loss from the disposition of property that is neither stock in trade nor held primarily for sale to customers. Filing amended tax return 2013 Instead, you must report these gains and losses on other forms. Filing amended tax return 2013 For more information, see chapter 3. Filing amended tax return 2013 Promissory notes. Filing amended tax return 2013   Report promissory notes and other evidences of debt issued to you in a sale or exchange of property that is stock in trade or held primarily for sale to customers on Schedule C or C-EZ. Filing amended tax return 2013 In general, you report them at their stated principal amount (minus any unstated interest) when you receive them. Filing amended tax return 2013 Lost income payments. Filing amended tax return 2013   If you reduce or stop your business activities, report on Schedule C or C-EZ any payment you receive for the lost income of your business from insurance or other sources. Filing amended tax return 2013 Report it on Schedule C or C-EZ even if your business is inactive when you receive the payment. Filing amended tax return 2013 Damages. Filing amended tax return 2013   You must include in gross income compensation you receive during the tax year as a result of any of the following injuries connected with your business. Filing amended tax return 2013 Patent infringement. Filing amended tax return 2013 Breach of contract or fiduciary duty. Filing amended tax return 2013 Antitrust injury. Filing amended tax return 2013 Economic injury. Filing amended tax return 2013   You may be entitled to a deduction against the income if it compensates you for actual economic injury. Filing amended tax return 2013 Your deduction is the smaller of the following amounts. Filing amended tax return 2013 The amount you receive or accrue for damages in the tax year reduced by the amount you pay or incur in the tax year to recover that amount. Filing amended tax return 2013 Your loss from the injury that you have not yet deducted. Filing amended tax return 2013 Punitive damages. Filing amended tax return 2013   You must also include punitive damages in income. Filing amended tax return 2013 Kickbacks. Filing amended tax return 2013   If you receive any kickbacks, include them in your income on Schedule C or C-EZ. Filing amended tax return 2013 However, do not include them if you properly treat them as a reduction of a related expense item, a capital expenditure, or cost of goods sold. Filing amended tax return 2013 Recovery of items previously deducted. Filing amended tax return 2013   If you recover a bad debt or any other item deducted in a previous year, include the recovery in income on Schedule C or C-EZ. Filing amended tax return 2013 However, if all or part of the deduction in earlier years did not reduce your tax, you can exclude the part that did not reduce your tax. Filing amended tax return 2013 If you exclude part of the recovery from income, you must include with your return a computation showing how you figured the exclusion. Filing amended tax return 2013 Example. Filing amended tax return 2013 Joe Smith, a sole proprietor, had gross income of $8,000, a bad debt deduction of $300, and other allowable deductions of $7,700. Filing amended tax return 2013 He also had 2 personal exemptions for a total of $7,800. Filing amended tax return 2013 He would not pay income tax even if he did not deduct the bad debt. Filing amended tax return 2013 Therefore, he will not report as income any part of the $300 he may recover in any future year. Filing amended tax return 2013 Exception for depreciation. Filing amended tax return 2013   This rule does not apply to depreciation. Filing amended tax return 2013 You recover depreciation using the rules explained next. Filing amended tax return 2013 Recapture of depreciation. Filing amended tax return 2013   In the following situations, you have to recapture the depreciation deduction. Filing amended tax return 2013 This means you include in income part or all of the depreciation you deducted in previous years. Filing amended tax return 2013 Listed property. Filing amended tax return 2013   If your business use of listed property (explained in chapter 8 under Depreciation ) falls to 50% or less in a tax year after the tax year you placed the property in service, you may have to recapture part of the depreciation deduction. Filing amended tax return 2013 You do this by including in income on Schedule C part of the depreciation you deducted in previous years. Filing amended tax return 2013 Use Part IV of Form 4797, Sales of Business Property, to figure the amount to include on Schedule C. Filing amended tax return 2013 For more information, see What is the Business-Use Requirement? in chapter 5 of Publication 946, How To Depreciate Property. Filing amended tax return 2013 That chapter explains how to determine whether property is used more than 50% in your business. Filing amended tax return 2013 Section 179 property. Filing amended tax return 2013   If you take a section 179 deduction (explained in chapter 8 under Depreciation ) for an asset and before the end of the asset's recovery period the percentage of business use drops to 50% or less, you must recapture part of the section 179 deduction. Filing amended tax return 2013 You do this by including in income on Schedule C part of the deduction you took. Filing amended tax return 2013 Use Part IV of Form 4797 to figure the amount to include on Schedule C. Filing amended tax return 2013 See chapter 2 in Publication 946 to find out when you recapture the deduction. Filing amended tax return 2013 Sale or exchange of depreciable property. Filing amended tax return 2013   If you sell or exchange depreciable property at a gain, you may have to treat all or part of the gain due to depreciation as ordinary income. Filing amended tax return 2013 You figure the income due to depreciation recapture in Part III of Form 4797. Filing amended tax return 2013 For more information, see chapter 4 in Publication 544, Sales and Other Dispositions of Assets. Filing amended tax return 2013 Items That Are Not Income In some cases the property or money you receive is not income. Filing amended tax return 2013 Appreciation. Filing amended tax return 2013   Increases in value of your property are not income until you realize the increases through a sale or other taxable disposition. Filing amended tax return 2013 Consignments. Filing amended tax return 2013   Consignments of merchandise to others to sell for you are not sales. Filing amended tax return 2013 The title of merchandise remains with you, the consignor, even after the consignee possesses the merchandise. Filing amended tax return 2013 Therefore, if you ship goods on consignment, you have no profit or loss until the consignee sells the merchandise. Filing amended tax return 2013 Merchandise you have shipped out on consignment is included in your inventory until it is sold. Filing amended tax return 2013   Do not include merchandise you receive on consignment in your inventory. Filing amended tax return 2013 Include your profit or commission on merchandise consigned to you in your income when you sell the merchandise or when you receive your profit or commission, depending upon the method of accounting you use. Filing amended tax return 2013 Construction allowances. Filing amended tax return 2013   If you enter into a lease after August 5, 1997, you can exclude from income the construction allowance you receive (in cash or as a rent reduction) from your landlord if you receive it under both the following conditions. Filing amended tax return 2013 Under a short-term lease of retail space. Filing amended tax return 2013 For the purpose of constructing or improving qualified long-term real property for use in your business at that retail space. Filing amended tax return 2013 Amount you can exclude. Filing amended tax return 2013   You can exclude the construction allowance to the extent it does not exceed the amount you spent for construction or improvements. Filing amended tax return 2013 Short-term lease. Filing amended tax return 2013   A short-term lease is a lease (or other agreement for occupancy or use) of retail space for 15 years or less. Filing amended tax return 2013 The following rules apply in determining whether the lease is for 15 years or less. Filing amended tax return 2013 Take into account options to renew when figuring whether the lease is for 15 years or less. Filing amended tax return 2013 But do not take into account any option to renew at fair market value determined at the time of renewal. Filing amended tax return 2013 Two or more successive leases that are part of the same transaction (or a series of related transactions) for the same or substantially similar retail space are treated as one lease. Filing amended tax return 2013 Retail space. Filing amended tax return 2013   Retail space is real property leased, occupied, or otherwise used by you as a tenant in your business of selling tangible personal property or services to the general public. Filing amended tax return 2013 Qualified long-term real property. Filing amended tax return 2013   Qualified long-term real property is nonresidential real property that is part of, or otherwise present at, your retail space and that reverts to the landlord when the lease ends. Filing amended tax return 2013 Exchange of like-kind property. Filing amended tax return 2013   If you exchange your business property or property you hold for investment solely for property of a like kind to be used in your business or to be held for investment, no gain or loss is recognized. Filing amended tax return 2013 This means that the gain is not taxable and the loss is not deductible. Filing amended tax return 2013 A common type of nontaxable exchange is the trade-in of a business automobile for another business automobile. Filing amended tax return 2013 For more information, see Form 8824. Filing amended tax return 2013 Leasehold improvements. Filing amended tax return 2013   If a tenant erects buildings or makes improvements to your property, the increase in the value of the property due to the improvements is not income to you. Filing amended tax return 2013 However, if the facts indicate that the improvements are a payment of rent to you, then the increase in value would be income. Filing amended tax return 2013 Loans. Filing amended tax return 2013   Money borrowed through a bona fide loan is not income. Filing amended tax return 2013 Sales tax. Filing amended tax return 2013   State and local sales taxes imposed on the buyer, which you were required to collect and pay over to state or local governments, are not income. Filing amended tax return 2013 Guidelines for Selected Occupations This section provides information to determine whether your earnings should be reported on Schedule C (Form 1040) or C-EZ (Form 1040). Filing amended tax return 2013 Direct seller. Filing amended tax return 2013   You must report all income you receive as a direct seller on Schedule C or C-EZ. Filing amended tax return 2013 This includes any of the following. Filing amended tax return 2013 Income from sales—payments you receive from customers for products they buy from you. Filing amended tax return 2013 Commissions, bonuses, or percentages you receive for sales and the sales of others who work under you. Filing amended tax return 2013 Prizes, awards, and gifts you receive from your selling business. Filing amended tax return 2013 You must report this income regardless of whether it is reported to you on an information return. Filing amended tax return 2013   You are a direct seller if you meet all the following conditions. Filing amended tax return 2013 You are engaged in one of the following trades or businesses. Filing amended tax return 2013 Selling or soliciting the sale of consumer products either in a home or other place that is not a permanent retail establishment, or to any buyer on a buy-sell basis or a deposit-commission basis for resale in a home or other place of business that is not a permanent retail establishment. Filing amended tax return 2013 Delivering or distributing newspapers or shopping news (including any services directly related to that trade or business). Filing amended tax return 2013 Substantially all your pay (whether paid in cash or not) for services described above is directly related to sales or other output (including performance of services) rather than to the number of hours worked. Filing amended tax return 2013 Your services are performed under a written contract between you and the person for whom you perform the services, and the contract provides that you will not be treated as an employee for federal tax purposes. Filing amended tax return 2013 Executor or administrator. Filing amended tax return 2013   If you administer a deceased person's estate, your fees are reported on Schedule C or C-EZ if you are one of the following: A professional fiduciary. Filing amended tax return 2013 A nonprofessional fiduciary (personal representative) and both of the following apply. Filing amended tax return 2013 The estate includes an active trade or business in which you actively participate. Filing amended tax return 2013 Your fees are related to the operation of that trade or business. Filing amended tax return 2013 A nonprofessional fiduciary of a single estate that requires extensive managerial activities on your part for a long period of time, provided these activities are enough to be considered a trade or business. Filing amended tax return 2013    If the fees do not meet the above requirements, report them on line 21 of Form 1040. Filing amended tax return 2013 Fishing crew member. Filing amended tax return 2013    If you are a member of the crew that catches fish or other water life, your earnings are reported on Schedule C or C-EZ if you meet all the requirements shown in chapter 10 under Fishing crew member . Filing amended tax return 2013 Insurance agent, former. Filing amended tax return 2013   Termination payments you receive as a former self-employed insurance agent from an insurance company because of services you performed for that company are not reported on Schedule C or C-EZ if all the following conditions are met. Filing amended tax return 2013 You received payments after your agreement to perform services for the company ended. Filing amended tax return 2013 You did not perform any services for the company after your service agreement ended and before the end of the year in which you received the payment. Filing amended tax return 2013 You entered into a covenant not to compete against the company for at least a 1-year period beginning on the date your service agreement ended. Filing amended tax return 2013 The amount of the payments depended primarily on policies sold by you or credited to your account during the last year of your service agreement or the extent to which those policies remain in force for some period after your service agreement ended, or both. Filing amended tax return 2013 The amount of the payment did not depend to any extent on length of service or overall earnings from services performed for the company (regardless of whether eligibility for the payments depended on length of service). Filing amended tax return 2013 Insurance agent, retired. Filing amended tax return 2013   Income paid by an insurance company to a retired self-employed insurance agent based on a percentage of commissions received before retirement is reported on Schedule C or C-EZ. Filing amended tax return 2013 Also, renewal commissions and deferred commissions for sales made before retirement are generally reported on Schedule C or C-EZ. Filing amended tax return 2013   However, renewal commissions paid to the survivor of an insurance agent are not reported on Schedule C or C-EZ. Filing amended tax return 2013 Newspaper carrier or distributor. Filing amended tax return 2013   You are a direct seller and your earnings are reported on Schedule C or C-EZ if all the following conditions apply. Filing amended tax return 2013 You are in the business of delivering or distributing newspapers or shopping news (including directly related services such as soliciting customers and collecting receipts). Filing amended tax return 2013 Substantially all your pay for these services directly relates to your sales or other output rather than to the number of hours you work. Filing amended tax return 2013 You perform the services under a written contract that says you will not be treated as an employee for federal tax purposes. Filing amended tax return 2013   This rule applies whether or not you hire others to help you make deliveries. Filing amended tax return 2013 It also applies whether you buy the papers from the publisher or are paid based on the number of papers you deliver. Filing amended tax return 2013 Newspaper or magazine vendor. Filing amended tax return 2013   If you are 18 or older and you sell newspapers or magazines, your earnings are reported on Schedule C or C-EZ if all the following conditions apply. Filing amended tax return 2013 You sell newspapers or magazines to ultimate consumers. Filing amended tax return 2013 You sell them at a fixed price. Filing amended tax return 2013 Your earnings are based on the difference between the sales price and your cost of goods sold. Filing amended tax return 2013   This rule applies whether or not you are guaranteed a minimum amount of earnings. Filing amended tax return 2013 It also applies whether or not you receive credit for unsold newspapers or magazines you return to your supplier. Filing amended tax return 2013 Notary public. Filing amended tax return 2013   Fees you receive for services you perform as a notary public are reported on Schedule C or C-EZ. Filing amended tax return 2013 These payments are not subject to self-employment tax (see the instructions for Schedule SE (Form 1040)). Filing amended tax return 2013 Public official. Filing amended tax return 2013   Public officials generally do not report what they earn for serving in public office on Schedule C or C-EZ. Filing amended tax return 2013 This rule applies to payments received by an elected tax collector from state funds on the basis of a fixed percentage of the taxes collected. Filing amended tax return 2013 Public office includes any elective or appointive office of the United States or its possessions, the District of Columbia, a state or its political subdivisions, or a wholly owned instrumentality of any of these. Filing amended tax return 2013   Public officials of state or local governments report their fees on Schedule C or C-EZ if they are paid solely on a fee basis and if their services are eligible for, but not covered by, social security under a federal-state agreement. Filing amended tax return 2013 Real estate agent or direct seller. Filing amended tax return 2013   If you are a licensed real estate agent or a direct seller, your earnings are reported on Schedule C or C-EZ if both the following apply. Filing amended tax return 2013 Substantially all your pay for services as a real estate agent or direct seller directly relates to your sales or other output rather than to the number of hours you work. Filing amended tax return 2013 You perform the services under a written contract that says you will not be treated as an employee for federal tax purposes. Filing amended tax return 2013 Securities dealer. Filing amended tax return 2013   If you are a dealer in options or commodities, your gains and losses from dealing or trading in section 1256 contracts (regulated futures contracts, foreign currency contracts, nonequity options, dealer equity options, and dealer securities futures contracts) or property related to those contracts (such as stock used to hedge options) are reported on Schedule C or C-EZ. Filing amended tax return 2013 For more information, see sections 1256 and 1402(i). Filing amended tax return 2013 Securities trader. Filing amended tax return 2013   You are a trader in securities if you are engaged in the business of buying and selling securities for your own account. Filing amended tax return 2013 As a trader in securities, your gain or loss from the disposition of securities is not reported on Schedule C or C-EZ. Filing amended tax return 2013 However, see Securities dealer , earlier, for an exception that applies to section 1256 contracts. Filing amended tax return 2013 For more information about securities traders, see Publication 550, Investment Income and Expenses. Filing amended tax return 2013 Accounting for Your Income Accounting for your income for income tax purposes differs at times from accounting for financial purposes. Filing amended tax return 2013 This section discusses some of the more common differences that may affect business transactions. Filing amended tax return 2013 Figure your business income on the basis of a tax year and according to your regular method of accounting (see chapter 2). Filing amended tax return 2013 If the sale of a product is an income-producing factor in your business, you usually have to use inventories to clearly show your income. Filing amended tax return 2013 Dealers in real estate are not allowed to use inventories. Filing amended tax return 2013 For more information on inventories, see chapter 2. Filing amended tax return 2013 Income paid to a third party. Filing amended tax return 2013   All income you earn is taxable to you. Filing amended tax return 2013 You cannot avoid tax by having the income paid to a third party. Filing amended tax return 2013 Example. Filing amended tax return 2013 You rent out your property and the rental agreement directs the lessee to pay the rent to your son. Filing amended tax return 2013 The amount paid to your son is gross income to you. Filing amended tax return 2013 Cash discounts. Filing amended tax return 2013   These are amounts the seller permits you to deduct from the invoice price for prompt payment. Filing amended tax return 2013 For income tax purposes, you can use either of the following two methods to account for cash discounts. Filing amended tax return 2013 Deduct the cash discount from purchases (see Line 36, Purchases Less Cost of Items Withdrawn for Personal Use in chapter 6). Filing amended tax return 2013 Credit the cash discount to a discount income account. Filing amended tax return 2013 You must use the chosen method every year for all your purchase discounts. Filing amended tax return 2013   If you use the second method, the credit balance in the account at the end of your tax year is business income. Filing amended tax return 2013 Under this method, you do not reduce the cost of goods sold by the cash discounts you received. Filing amended tax return 2013 When valuing your closing inventory, you cannot reduce the invoice price of merchandise on hand at the close of the tax year by the average or estimated discounts received on the merchandise. Filing amended tax return 2013 Trade discounts. Filing amended tax return 2013   These are reductions from list or catalog prices and usually are not written into the invoice or charged to the customer. Filing amended tax return 2013 Do not enter these discounts on your books of account. Filing amended tax return 2013 Instead, use only the net amount as the cost of the merchandise purchased. Filing amended tax return 2013 For more information, see Trade discounts in chapter 6. Filing amended tax return 2013 Payment placed in escrow. Filing amended tax return 2013   If the buyer of your property places part or all of the purchase price in escrow, you do not include any part of it in gross sales until you actually or constructively receive it. Filing amended tax return 2013 However, upon completion of the terms of the contract and the escrow agreement, you will have taxable income, even if you do not accept the money until the next year. Filing amended tax return 2013 Sales returns and allowances. Filing amended tax return 2013   Credits you allow customers for returned merchandise and any other allowances you make on sales are deductions from gross sales in figuring net sales. Filing amended tax return 2013 Advance payments. Filing amended tax return 2013   Special rules dealing with an accrual method of accounting for payments received in advance are discussed in chapter 2 under Accrual Method. Filing amended tax return 2013 Insurance proceeds. Filing amended tax return 2013   If you receive insurance or another type of reimbursement for a casualty or theft loss, you must subtract it from the loss when you figure your deduction. Filing amended tax return 2013 You cannot deduct the reimbursed part of a casualty or theft loss. Filing amended tax return 2013   For information on casualty or theft losses, see Publication 547, Casualties, Disasters, and Thefts. 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