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Forms Tax

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Forms Tax

Forms tax 7. Forms tax   Interest Income Table of Contents Reminder Introduction Useful Items - You may want to see: General InformationSSN for joint account. Forms tax Custodian account for your child. Forms tax Penalty for failure to supply SSN. Forms tax Reporting backup withholding. Forms tax Savings account with parent as trustee. Forms tax Interest not reported on Form 1099-INT. Forms tax Nominees. Forms tax Incorrect amount. Forms tax Information reporting requirement. Forms tax Taxable InterestInterest subject to penalty for early withdrawal. Forms tax Money borrowed to invest in certificate of deposit. Forms tax U. Forms tax S. Forms tax Savings Bonds Education Savings Bond Program U. Forms tax S. Forms tax Treasury Bills, Notes, and Bonds Bonds Sold Between Interest Dates Insurance State or Local Government Obligations Original Issue Discount (OID) When To Report Interest IncomeConstructive receipt. Forms tax How To Report Interest IncomeSchedule B (Form 1040A or 1040). Forms tax Reporting tax-exempt interest. Forms tax U. Forms tax S. Forms tax savings bond interest previously reported. Forms tax Reminder Foreign-source income. Forms tax  If you are a U. Forms tax S. Forms tax citizen with interest income from sources outside the United States (foreign income), you must report that income on your tax return unless it is exempt by U. Forms tax S. Forms tax law. Forms tax This is true whether you reside inside or outside the United States and whether or not you receive a Form 1099 from the foreign payer. Forms tax Introduction This chapter discusses the following topics. Forms tax Different types of interest income. Forms tax What interest is taxable and what interest is nontaxable. Forms tax When to report interest income. Forms tax How to report interest income on your tax return. Forms tax In general, any interest you receive or that is credited to your account and can be withdrawn is taxable income. Forms tax Exceptions to this rule are discussed later in this chapter. Forms tax You may be able to deduct expenses you have in earning this income on Schedule A (Form 1040) if you itemize your deductions. Forms tax See Money borrowed to invest in certificate of deposit , later, and chapter 28. Forms tax Useful Items - You may want to see: Publication 537 Installment Sales 550 Investment Income and Expenses 1212 Guide to Original Issue Discount (OID) Instruments Form (and Instructions) Schedule B (Form 1040A or 1040) Interest and Ordinary Dividends 8815 Exclusion of Interest From Series EE and I U. Forms tax S. Forms tax Savings Bonds Issued After 1989 8818 Optional Form To Record Redemption of Series EE and I U. Forms tax S. Forms tax Savings Bonds Issued After 1989 General Information A few items of general interest are covered here. Forms tax Recordkeeping. Forms tax You should keep a list showing sources and interest amounts received during the year. Forms tax Also, keep the forms you receive showing your interest income (Forms 1099-INT, for example) as an important part of your records. Forms tax Tax on unearned income of certain children. Forms tax    Part of a child's 2013 unearned income may be taxed at the parent's tax rate. Forms tax If so, Form 8615, Tax for Certain Children Who Have Unearned Income, must be completed and attached to the child's tax return. Forms tax If not, Form 8615 is not required and the child's income is taxed at his or her own tax rate. Forms tax   Some parents can choose to include the child's interest and dividends on the parent's return. Forms tax If you can, use Form 8814, Parents' Election To Report Child's Interest and Dividends, for this purpose. Forms tax   For more information about the tax on unearned income of children and the parents' election, see chapter 31. Forms tax Beneficiary of an estate or trust. Forms tax   Interest you receive as a beneficiary of an estate or trust is generally taxable income. Forms tax You should receive a Schedule K-1 (Form 1041), Beneficiary's Share of Income, Deductions, Credits, etc. Forms tax , from the fiduciary. Forms tax Your copy of Schedule K-1 (Form 1041) and its instructions will tell you where to report the income on your Form 1040. Forms tax Social security number (SSN). Forms tax   You must give your name and SSN or individual tax identification number (ITIN) to any person required by federal tax law to make a return, statement, or other document that relates to you. Forms tax This includes payers of interest. Forms tax If you do not give your SSN or ITIN to the payer of interest, you may have to pay a penalty. Forms tax SSN for joint account. Forms tax   If the funds in a joint account belong to one person, list that person's name first on the account and give that person's SSN to the payer. Forms tax (For information on who owns the funds in a joint account, see Joint accounts , later. Forms tax ) If the joint account contains combined funds, give the SSN of the person whose name is listed first on the account. Forms tax This is because only one name and SSN can be shown on Form 1099. Forms tax   These rules apply both to joint ownership by a married couple and to joint ownership by other individuals. Forms tax For example, if you open a joint savings account with your child using funds belonging to the child, list the child's name first on the account and give the child's SSN. Forms tax Custodian account for your child. Forms tax   If your child is the actual owner of an account that is recorded in your name as custodian for the child, give the child's SSN to the payer. Forms tax For example, you must give your child's SSN to the payer of interest on an account owned by your child, even though the interest is paid to you as custodian. Forms tax Penalty for failure to supply SSN. Forms tax   If you do not give your SSN to the payer of interest, you may have to pay a penalty. Forms tax See Failure to supply SSN under Penalties in chapter 1. Forms tax Backup withholding also may apply. Forms tax Backup withholding. Forms tax   Your interest income is generally not subject to regular withholding. Forms tax However, it may be subject to backup withholding to ensure that income tax is collected on the income. Forms tax Under backup withholding, the payer of interest must withhold, as income tax, on the amount you are paid, applying the appropriate withholding rate. Forms tax   Backup withholding may also be required if the IRS has determined that you underreported your interest or dividend income. Forms tax For more information, see Backup Withholding in chapter 4. Forms tax Reporting backup withholding. Forms tax   If backup withholding is deducted from your interest income, the payer must give you a Form 1099-INT for the year indicating the amount withheld. Forms tax The Form 1099-INT will show any backup withholding as “Federal income tax withheld. Forms tax ” Joint accounts. Forms tax   If two or more persons hold property (such as a savings account or bond) as joint tenants, tenants by the entirety, or tenants in common, each person's share of any interest from the property is determined by local law. Forms tax Income from property given to a child. Forms tax   Property you give as a parent to your child under the Model Gifts of Securities to Minors Act, the Uniform Gifts to Minors Act, or any similar law becomes the child's property. Forms tax   Income from the property is taxable to the child, except that any part used to satisfy a legal obligation to support the child is taxable to the parent or guardian having that legal obligation. Forms tax Savings account with parent as trustee. Forms tax   Interest income from a savings account opened for a minor child, but placed in the name and subject to the order of the parents as trustees, is taxable to the child if, under the law of the state in which the child resides, both of the following are true. Forms tax The savings account legally belongs to the child. Forms tax The parents are not legally permitted to use any of the funds to support the child. Forms tax Form 1099-INT. Forms tax   Interest income is generally reported to you on Form 1099-INT, or a similar statement, by banks, savings and loans, and other payers of interest. Forms tax This form shows you the interest you received during the year. Forms tax Keep this form for your records. Forms tax You do not have to attach it to your tax return. Forms tax   Report on your tax return the total interest income you receive for the tax year. Forms tax Interest not reported on Form 1099-INT. Forms tax   Even if you do not receive Form 1099-INT, you must still report all of your interest income. Forms tax For example, you may receive distributive shares of interest from partnerships or S corporations. Forms tax This interest is reported to you on Schedule K-1 (Form 1065), Partner's Share of Income, Deduction, Credits, etc. Forms tax , or Schedule K-1 (Form 1120S), Shareholder's Share of Income, Deductions, Credits, etc. Forms tax Nominees. Forms tax   Generally, if someone receives interest as a nominee for you, that person must give you a Form 1099-INT showing the interest received on your behalf. Forms tax   If you receive a Form 1099-INT that includes amounts belonging to another person, see the discussion on nominee distributions under How To Report Interest Income in chapter 1 of Publication 550, or Schedule B (Form 1040A or 1040) instructions. Forms tax Incorrect amount. Forms tax   If you receive a Form 1099-INT that shows an incorrect amount (or other incorrect information), you should ask the issuer for a corrected form. Forms tax The new Form 1099-INT you receive will be marked “Corrected. Forms tax ” Form 1099-OID. Forms tax   Reportable interest income also may be shown on Form 1099-OID, Original Issue Discount. Forms tax For more information about amounts shown on this form, see Original Issue Discount (OID) , later in this chapter. Forms tax Exempt-interest dividends. Forms tax   Exempt-interest dividends you receive from a mutual fund or other regulated investment company, including those received from a qualified fund of funds in any tax year beginning after December 22, 2010, are not included in your taxable income. Forms tax (However, see Information reporting requirement , next. Forms tax ) Exempt-interest dividends should be shown in box 10 of Form 1099-DIV. Forms tax You do not reduce your basis for distributions that are exempt-interest dividends. Forms tax Information reporting requirement. Forms tax   Although exempt-interest dividends are not taxable, you must show them on your tax return if you have to file. Forms tax This is an information reporting requirement and does not change the exempt-interest dividends into taxable income. Forms tax Note. Forms tax Exempt-interest dividends paid from specified private activity bonds may be subject to the alternative minimum tax. Forms tax See Alternative Minimum Tax (AMT) in chapter 30 for more information. Forms tax Chapter 1 of Publication 550 contains a discussion on private activity bonds under State or Local Government Obligations. Forms tax Interest on VA dividends. Forms tax   Interest on insurance dividends left on deposit with the Department of Veterans Affairs (VA) is not taxable. Forms tax This includes interest paid on dividends on converted United States Government Life Insurance and on National Service Life Insurance policies. Forms tax Individual retirement arrangements (IRAs). Forms tax   Interest on a Roth IRA generally is not taxable. Forms tax Interest on a traditional IRA is tax deferred. Forms tax You generally do not include it in your income until you make withdrawals from the IRA. Forms tax See chapter 17. Forms tax Taxable Interest Taxable interest includes interest you receive from bank accounts, loans you make to others, and other sources. Forms tax The following are some sources of taxable interest. Forms tax Dividends that are actually interest. Forms tax   Certain distributions commonly called dividends are actually interest. Forms tax You must report as interest so-called “dividends” on deposits or on share accounts in: Cooperative banks, Credit unions, Domestic building and loan associations, Domestic savings and loan associations, Federal savings and loan associations, and Mutual savings banks. Forms tax  The “dividends” will be shown as interest income on Form 1099-INT. Forms tax Money market funds. Forms tax   Money market funds pay dividends and are offered by nonbank financial institutions, such as mutual funds and stock brokerage houses. Forms tax Generally, amounts you receive from money market funds should be reported as dividends, not as interest. Forms tax Certificates of deposit and other deferred interest accounts. Forms tax   If you open any of these accounts, interest may be paid at fixed intervals of 1 year or less during the term of the account. Forms tax You generally must include this interest in your income when you actually receive it or are entitled to receive it without paying a substantial penalty. Forms tax The same is true for accounts that mature in 1 year or less and pay interest in a single payment at maturity. Forms tax If interest is deferred for more than 1 year, see Original Issue Discount (OID) , later. Forms tax Interest subject to penalty for early withdrawal. Forms tax   If you withdraw funds from a deferred interest account before maturity, you may have to pay a penalty. Forms tax You must report the total amount of interest paid or credited to your account during the year, without subtracting the penalty. Forms tax See Penalty on early withdrawal of savings in chapter 1 of Publication 550 for more information on how to report the interest and deduct the penalty. Forms tax Money borrowed to invest in certificate of deposit. Forms tax   The interest you pay on money borrowed from a bank or savings institution to meet the minimum deposit required for a certificate of deposit from the institution and the interest you earn on the certificate are two separate items. Forms tax You must report the total interest you earn on the certificate in your income. Forms tax If you itemize deductions, you can deduct the interest you pay as investment interest, up to the amount of your net investment income. Forms tax See Interest Expenses in chapter 3 of Publication 550. Forms tax Example. Forms tax You deposited $5,000 with a bank and borrowed $5,000 from the bank to make up the $10,000 minimum deposit required to buy a 6-month certificate of deposit. Forms tax The certificate earned $575 at maturity in 2013, but you received only $265, which represented the $575 you earned minus $310 interest charged on your $5,000 loan. Forms tax The bank gives you a Form 1099-INT for 2013 showing the $575 interest you earned. Forms tax The bank also gives you a statement showing that you paid $310 interest for 2013. Forms tax You must include the $575 in your income. Forms tax If you itemize your deductions on Schedule A (Form 1040), you can deduct $310, subject to the net investment income limit. Forms tax Gift for opening account. Forms tax   If you receive noncash gifts or services for making deposits or for opening an account in a savings institution, you may have to report the value as interest. Forms tax   For deposits of less than $5,000, gifts or services valued at more than $10 must be reported as interest. Forms tax For deposits of $5,000 or more, gifts or services valued at more than $20 must be reported as interest. Forms tax The value is determined by the cost to the financial institution. Forms tax Example. Forms tax You open a savings account at your local bank and deposit $800. Forms tax The account earns $20 interest. Forms tax You also receive a $15 calculator. Forms tax If no other interest is credited to your account during the year, the Form 1099-INT you receive will show $35 interest for the year. Forms tax You must report $35 interest income on your tax return. Forms tax Interest on insurance dividends. Forms tax   Interest on insurance dividends left on deposit with an insurance company that can be withdrawn annually is taxable to you in the year it is credited to your account. Forms tax However, if you can withdraw it only on the anniversary date of the policy (or other specified date), the interest is taxable in the year that date occurs. Forms tax Prepaid insurance premiums. Forms tax   Any increase in the value of prepaid insurance premiums, advance premiums, or premium deposit funds is interest if it is applied to the payment of premiums due on insurance policies or made available for you to withdraw. Forms tax U. Forms tax S. Forms tax obligations. Forms tax   Interest on U. Forms tax S. Forms tax obligations, such as U. Forms tax S. Forms tax Treasury bills, notes, and bonds, issued by any agency or instrumentality of the United States is taxable for federal income tax purposes. Forms tax Interest on tax refunds. Forms tax   Interest you receive on tax refunds is taxable income. Forms tax Interest on condemnation award. Forms tax   If the condemning authority pays you interest to compensate you for a delay in payment of an award, the interest is taxable. Forms tax Installment sale payments. Forms tax   If a contract for the sale or exchange of property provides for deferred payments, it also usually provides for interest payable with the deferred payments. Forms tax That interest is taxable when you receive it. Forms tax If little or no interest is provided for in a deferred payment contract, part of each payment may be treated as interest. Forms tax See Unstated Interest and Original Issue Discount in Publication 537, Installment Sales. Forms tax Interest on annuity contract. Forms tax   Accumulated interest on an annuity contract you sell before its maturity date is taxable. Forms tax Usurious interest. Forms tax   Usurious interest is interest charged at an illegal rate. Forms tax This is taxable as interest unless state law automatically changes it to a payment on the principal. Forms tax Interest income on frozen deposits. Forms tax   Exclude from your gross income interest on frozen deposits. Forms tax A deposit is frozen if, at the end of the year, you cannot withdraw any part of the deposit because: The financial institution is bankrupt or insolvent, or The state where the institution is located has placed limits on withdrawals because other financial institutions in the state are bankrupt or insolvent. Forms tax   The amount of interest you must exclude is the interest that was credited on the frozen deposits minus the sum of: The net amount you withdrew from these deposits during the year, and The amount you could have withdrawn as of the end of the year (not reduced by any penalty for premature withdrawals of a time deposit). Forms tax If you receive a Form 1099-INT for interest income on deposits that were frozen at the end of 2013, see Frozen deposits under How To Report Interest Income in chapter 1 of Publication 550, for information about reporting this interest income exclusion on your tax return. Forms tax   The interest you exclude is treated as credited to your account in the following year. Forms tax You must include it in income in the year you can withdraw it. Forms tax Example. Forms tax $100 of interest was credited on your frozen deposit during the year. Forms tax You withdrew $80 but could not withdraw any more as of the end of the year. Forms tax You must include $80 in your income and exclude $20 from your income for the year. Forms tax You must include the $20 in your income for the year you can withdraw it. Forms tax Bonds traded flat. Forms tax   If you buy a bond at a discount when interest has been defaulted or when the interest has accrued but has not been paid, the transaction is described as trading a bond flat. Forms tax The defaulted or unpaid interest is not income and is not taxable as interest if paid later. Forms tax When you receive a payment of that interest, it is a return of capital that reduces the remaining cost basis of your bond. Forms tax Interest that accrues after the date of purchase, however, is taxable interest income for the year it is received or accrued. Forms tax See Bonds Sold Between Interest Dates , later, for more information. Forms tax Below-market loans. Forms tax   In general, a below-market loan is a loan on which no interest is charged or on which interest is charged at a rate below the applicable federal rate. Forms tax See Below-Market Loans in chapter 1 of Publication 550 for more information. Forms tax U. Forms tax S. Forms tax Savings Bonds This section provides tax information on U. Forms tax S. Forms tax savings bonds. Forms tax It explains how to report the interest income on these bonds and how to treat transfers of these bonds. Forms tax For other information on U. Forms tax S. Forms tax savings bonds, write to:  For series EE and I paper savings bonds: Bureau of the Public Debt Division of Customer Assistance P. Forms tax O. Forms tax Box 7012 Parkersburg, WV 26106-7012  For series EE and I electronic bonds: Bureau of the Public Debt Division of Customer Assistance P. Forms tax O. Forms tax Box 7015 Parkersburg, WV 26106–7015  For series HH/H: Bureau of the Public Debt Division of Customer Assistance P. Forms tax O. Forms tax Box 2186 Parkersburg, WV 26106-2186 Or, on the Internet, visit: www. Forms tax treasurydirect. Forms tax gov/indiv/indiv. Forms tax htm. Forms tax Accrual method taxpayers. Forms tax   If you use an accrual method of accounting, you must report interest on U. Forms tax S. Forms tax savings bonds each year as it accrues. Forms tax You cannot postpone reporting interest until you receive it or until the bonds mature. Forms tax Accrual methods of accounting are explained in chapter 1 under Accounting Methods . Forms tax Cash method taxpayers. Forms tax   If you use the cash method of accounting, as most individual taxpayers do, you generally report the interest on U. Forms tax S. Forms tax savings bonds when you receive it. Forms tax The cash method of accounting is explained in chapter 1 under Accounting Methods. Forms tax But see Reporting options for cash method taxpayers , later. Forms tax Series HH bonds. Forms tax    These bonds were issued at face value. Forms tax Interest is paid twice a year by direct deposit to your bank account. Forms tax If you are a cash method taxpayer, you must report interest on these bonds as income in the year you receive it. Forms tax   Series HH bonds were first offered in 1980 and last offered in August 2004. Forms tax Before 1980, series H bonds were issued. Forms tax Series H bonds are treated the same as series HH bonds. Forms tax If you are a cash method taxpayer, you must report the interest when you receive it. Forms tax   Series H bonds have a maturity period of 30 years. Forms tax Series HH bonds mature in 20 years. Forms tax The last series H bonds matured in 2009. Forms tax Series EE and series I bonds. Forms tax   Interest on these bonds is payable when you redeem the bonds. Forms tax The difference between the purchase price and the redemption value is taxable interest. Forms tax Series EE bonds. Forms tax   Series EE bonds were first offered in January 1980 and have a maturity period of 30 years. Forms tax   Before July 1980, series E bonds were issued. Forms tax The original 10-year maturity period of series E bonds has been extended to 40 years for bonds issued before December 1965 and 30 years for bonds issued after November 1965. Forms tax Paper series EE and series E bonds are issued at a discount. Forms tax The face value is payable to you at maturity. Forms tax Electronic series EE bonds are issued at their face value. Forms tax The face value plus accrued interest is payable to you at maturity. Forms tax As of January 1, 2012, paper savings bonds were no longer sold at financial institutions. Forms tax   Owners of paper series EE bonds can convert them to electronic bonds. Forms tax These converted bonds do not retain the denomination listed on the paper certificate but are posted at their purchase price (with accrued interest). Forms tax Series I bonds. Forms tax   Series I bonds were first offered in 1998. Forms tax These are inflation-indexed bonds issued at their face amount with a maturity period of 30 years. Forms tax The face value plus all accrued interest is payable to you at maturity. Forms tax Reporting options for cash method taxpayers. Forms tax   If you use the cash method of reporting income, you can report the interest on series EE, series E, and series I bonds in either of the following ways. Forms tax Method 1. Forms tax Postpone reporting the interest until the earlier of the year you cash or dispose of the bonds or the year they mature. Forms tax (However, see Savings bonds traded , later. Forms tax )  Note. Forms tax Series EE bonds issued in 1983 matured in 2013. Forms tax If you have used method 1, you generally must report the interest on these bonds on your 2013 return. Forms tax The last series E bonds were issued in 1980 and matured in 2010. Forms tax If you used method 1, you generally should have reported the interest on these bonds on your 2010 return. Forms tax Method 2. Forms tax Choose to report the increase in redemption value as interest each year. Forms tax You must use the same method for all series EE, series E, and series I bonds you own. Forms tax If you do not choose method 2 by reporting the increase in redemption value as interest each year, you must use method 1. Forms tax    If you plan to cash your bonds in the same year you will pay for higher education expenses, you may want to use method 1 because you may be able to exclude the interest from your income. Forms tax To learn how, see Education Savings Bond Program, later. Forms tax Change from method 1. Forms tax   If you want to change your method of reporting the interest from method 1 to method 2, you can do so without permission from the IRS. Forms tax In the year of change you must report all interest accrued to date and not previously reported for all your bonds. Forms tax   Once you choose to report the interest each year, you must continue to do so for all series EE, series E, and series I bonds you own and for any you get later, unless you request permission to change, as explained next. Forms tax Change from method 2. Forms tax   To change from method 2 to method 1, you must request permission from the IRS. Forms tax Permission for the change is automatically granted if you send the IRS a statement that meets all the following requirements. Forms tax You have typed or printed the following number at the top: “131. Forms tax ” It includes your name and social security number under “131. Forms tax ” It includes the year of change (both the beginning and ending dates). Forms tax It identifies the savings bonds for which you are requesting this change. Forms tax It includes your agreement to: Report all interest on any bonds acquired during or after the year of change when the interest is realized upon disposition, redemption, or final maturity, whichever is earliest, and Report all interest on the bonds acquired before the year of change when the interest is realized upon disposition, redemption, or final maturity, whichever is earliest, with the exception of the interest reported in prior tax years. Forms tax   You must attach this statement to your tax return for the year of change, which you must file by the due date (including extensions). Forms tax   You can have an automatic extension of 6 months from the due date of your return for the year of change (excluding extensions) to file the statement with an amended return. Forms tax On the statement, type or print “Filed pursuant to section 301. Forms tax 9100-2. Forms tax ” To get this extension, you must have filed your original return for the year of the change by the due date (including extensions). Forms tax    By the date you file the original statement with your return, you must also send a signed copy to the address below. Forms tax   Internal Revenue Service Attention: CC:IT&A (Automatic Rulings Branch) P. Forms tax O. Forms tax Box 7604 Benjamin Franklin Station Washington, DC 20044   If you use a private delivery service, send the signed copy to the address below. Forms tax   Internal Revenue Service Attention: CC:IT&A (Automatic Rulings Branch) Room 5336 1111 Constitution Avenue, NW  Washington, DC 20224   Instead of filing this statement, you can request permission to change from method 2 to method 1 by filing Form 3115, Application for Change in Accounting Method. Forms tax In that case, follow the form instructions for an automatic change. Forms tax No user fee is required. Forms tax Co-owners. Forms tax   If a U. Forms tax S. Forms tax savings bond is issued in the names of co-owners, such as you and your child or you and your spouse, interest on the bond is generally taxable to the co-owner who bought the bond. Forms tax One co-owner's funds used. Forms tax    If you used your funds to buy the bond, you must pay the tax on the interest. Forms tax This is true even if you let the other co-owner redeem the bond and keep all the proceeds. Forms tax Under these circumstances, the co-owner who redeemed the bond will receive a Form 1099-INT at the time of redemption and must provide you with another Form 1099-INT showing the amount of interest from the bond taxable to you. Forms tax The co-owner who redeemed the bond is a “nominee. Forms tax ” See Nominee distributions under How To Report Interest Income in chapter 1 of Publication 550 for more information about how a person who is a nominee reports interest income belonging to another person. Forms tax Both co-owners' funds used. Forms tax   If you and the other co-owner each contribute part of the bond's purchase price, the interest is generally taxable to each of you, in proportion to the amount each of you paid. Forms tax Community property. Forms tax   If you and your spouse live in a community property state and hold bonds as community property, one-half of the interest is considered received by each of you. Forms tax If you file separate returns, each of you generally must report one-half of the bond interest. Forms tax For more information about community property, see Publication 555. Forms tax Table 7-1. Forms tax   These rules are also shown in Table 7-1. Forms tax Ownership transferred. Forms tax   If you bought series E, series EE, or series I bonds entirely with your own funds and had them reissued in your co-owner's name or beneficiary's name alone, you must include in your gross income for the year of reissue all interest that you earned on these bonds and have not previously reported. Forms tax But, if the bonds were reissued in your name alone, you do not have to report the interest accrued at that time. Forms tax   This same rule applies when bonds (other than bonds held as community property) are transferred between spouses or incident to divorce. Forms tax Purchased jointly. Forms tax   If you and a co-owner each contributed funds to buy series E, series EE, or series I bonds jointly and later have the bonds reissued in the co-owner's name alone, you must include in your gross income for the year of reissue your share of all the interest earned on the bonds that you have not previously reported. Forms tax The former co-owner does not have to include in gross income at the time of reissue his or her share of the interest earned that was not reported before the transfer. Forms tax This interest, however, as well as all interest earned after the reissue, is income to the former co-owner. Forms tax   This income-reporting rule also applies when the bonds are reissued in the name of your former co-owner and a new co-owner. Forms tax But the new co-owner will report only his or her share of the interest earned after the transfer. Forms tax   If bonds that you and a co-owner bought jointly are reissued to each of you separately in the same proportion as your contribution to the purchase price, neither you nor your co-owner has to report at that time the interest earned before the bonds were reissued. Forms tax    Table 7-1. Forms tax Who Pays the Tax on U. Forms tax S. Forms tax Savings Bond Interest IF . Forms tax . Forms tax . Forms tax THEN the interest must be reported by . Forms tax . Forms tax . Forms tax you buy a bond in your name and the name of another person as co-owners, using only your own funds you. Forms tax you buy a bond in the name of another person, who is the sole owner of the bond the person for whom you bought the bond. Forms tax you and another person buy a bond as co-owners, each contributing part of the purchase price both you and the other co-owner, in proportion to the amount each paid for the bond. Forms tax you and your spouse, who live in a community property state, buy a bond that is community property you and your spouse. Forms tax If you file separate returns, both you and your spouse generally report one-half of the interest. Forms tax Example 1. Forms tax You and your spouse each spent an equal amount to buy a $1,000 series EE savings bond. Forms tax The bond was issued to you and your spouse as co-owners. Forms tax You both postpone reporting interest on the bond. Forms tax You later have the bond reissued as two $500 bonds, one in your name and one in your spouse's name. Forms tax At that time neither you nor your spouse has to report the interest earned to the date of reissue. Forms tax Example 2. Forms tax You bought a $1,000 series EE savings bond entirely with your own funds. Forms tax The bond was issued to you and your spouse as co-owners. Forms tax You both postpone reporting interest on the bond. Forms tax You later have the bond reissued as two $500 bonds, one in your name and one in your spouse's name. Forms tax You must report half the interest earned to the date of reissue. Forms tax Transfer to a trust. Forms tax   If you own series E, series EE, or series I bonds and transfer them to a trust, giving up all rights of ownership, you must include in your income for that year the interest earned to the date of transfer if you have not already reported it. Forms tax However, if you are considered the owner of the trust and if the increase in value both before and after the transfer continues to be taxable to you, you can continue to defer reporting the interest earned each year. Forms tax You must include the total interest in your income in the year you cash or dispose of the bonds or the year the bonds finally mature, whichever is earlier. Forms tax   The same rules apply to previously unreported interest on series EE or series E bonds if the transfer to a trust consisted of series HH or series H bonds you acquired in a trade for the series EE or series E bonds. Forms tax See Savings bonds traded , later. Forms tax Decedents. Forms tax   The manner of reporting interest income on series E, series EE, or series I bonds, after the death of the owner (decedent), depends on the accounting and income-reporting methods previously used by the decedent. Forms tax This is explained in chapter 1 of Publication 550. Forms tax Savings bonds traded. Forms tax   If you postponed reporting the interest on your series EE or series E bonds, you did not recognize taxable income when you traded the bonds for series HH or series H bonds, unless you received cash in the trade. Forms tax (You cannot trade series I bonds for series HH bonds. Forms tax After August 31, 2004, you cannot trade any other series of bonds for series HH bonds. Forms tax ) Any cash you received is income up to the amount of the interest earned on the bonds traded. Forms tax When your series HH or series H bonds mature, or if you dispose of them before maturity, you report as interest the difference between their redemption value and your cost. Forms tax Your cost is the sum of the amount you paid for the traded series EE or series E bonds plus any amount you had to pay at the time of the trade. Forms tax Example. Forms tax You traded series EE bonds (on which you postponed reporting the interest) for $2,500 in series HH bonds and $223 in cash. Forms tax You reported the $223 as taxable income on your tax return. Forms tax At the time of the trade, the series EE bonds had accrued interest of $523 and a redemption value of $2,723. Forms tax You hold the series HH bonds until maturity, when you receive $2,500. Forms tax You must report $300 as interest income in the year of maturity. Forms tax This is the difference between their redemption value, $2,500, and your cost, $2,200 (the amount you paid for the series EE bonds). Forms tax (It is also the difference between the accrued interest of $523 on the series EE bonds and the $223 cash received on the trade. Forms tax ) Choice to report interest in year of trade. Forms tax   You could have chosen to treat all of the previously unreported accrued interest on the series EE or series E bonds traded for series HH bonds as income in the year of the trade. Forms tax If you made this choice, it is treated as a change from method 1. Forms tax See Change from method 1 under Series EE and series I bonds, earlier. Forms tax Form 1099-INT for U. Forms tax S. Forms tax savings bonds interest. Forms tax   When you cash a bond, the bank or other payer that redeems it must give you a Form 1099-INT if the interest part of the payment you receive is $10 or more. Forms tax Box 3 of your Form 1099-INT should show the interest as the difference between the amount you received and the amount paid for the bond. Forms tax However, your Form 1099-INT may show more interest than you have to include on your income tax return. Forms tax For example, this may happen if any of the following are true. Forms tax You chose to report the increase in the redemption value of the bond each year. Forms tax The interest shown on your Form 1099-INT will not be reduced by amounts previously included in income. Forms tax You received the bond from a decedent. Forms tax The interest shown on your Form 1099-INT will not be reduced by any interest reported by the decedent before death, or on the decedent's final return, or by the estate on the estate's income tax return. Forms tax Ownership of the bond was transferred. Forms tax The interest shown on your Form 1099-INT will not be reduced by interest that accrued before the transfer. Forms tax You were named as a co-owner, and the other co-owner contributed funds to buy the bond. Forms tax The interest shown on your Form 1099-INT will not be reduced by the amount you received as nominee for the other co-owner. Forms tax (See Co-owners , earlier in this chapter, for more information about the reporting requirements. Forms tax ) You received the bond in a taxable distribution from a retirement or profit-sharing plan. Forms tax The interest shown on your Form 1099-INT will not be reduced by the interest portion of the amount taxable as a distribution from the plan and not taxable as interest. Forms tax (This amount is generally shown on Form 1099-R, Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. Forms tax , for the year of distribution. Forms tax )   For more information on including the correct amount of interest on your return, see How To Report Interest Income , later. Forms tax Publication 550 includes examples showing how to report these amounts. Forms tax    Interest on U. Forms tax S. Forms tax savings bonds is exempt from state and local taxes. Forms tax The Form 1099-INT you receive will indicate the amount that is for U. Forms tax S. Forms tax savings bond interest in box 3. Forms tax Education Savings Bond Program You may be able to exclude from income all or part of the interest you receive on the redemption of qualified U. Forms tax S. Forms tax savings bonds during the year if you pay qualified higher educational expenses during the same year. Forms tax This exclusion is known as the Education Savings Bond Program. Forms tax You do not qualify for this exclusion if your filing status is married filing separately. Forms tax Form 8815. Forms tax   Use Form 8815 to figure your exclusion. Forms tax Attach the form to your Form 1040 or Form 1040A. Forms tax Qualified U. Forms tax S. Forms tax savings bonds. Forms tax   A qualified U. Forms tax S. Forms tax savings bond is a series EE bond issued after 1989 or a series I bond. Forms tax The bond must be issued either in your name (sole owner) or in your and your spouse's names (co-owners). Forms tax You must be at least 24 years old before the bond's issue date. Forms tax For example, a bond bought by a parent and issued in the name of his or her child under age 24 does not qualify for the exclusion by the parent or child. Forms tax    The issue date of a bond may be earlier than the date the bond is purchased because the issue date assigned to a bond is the first day of the month in which it is purchased. Forms tax Beneficiary. Forms tax   You can designate any individual (including a child) as a beneficiary of the bond. Forms tax Verification by IRS. Forms tax   If you claim the exclusion, the IRS will check it by using bond redemption information from the Department of the Treasury. Forms tax Qualified expenses. Forms tax   Qualified higher educational expenses are tuition and fees required for you, your spouse, or your dependent (for whom you claim an exemption) to attend an eligible educational institution. Forms tax   Qualified expenses include any contribution you make to a qualified tuition program or to a Coverdell education savings account. Forms tax   Qualified expenses do not include expenses for room and board or for courses involving sports, games, or hobbies that are not part of a degree or certificate granting program. Forms tax Eligible educational institutions. Forms tax   These institutions include most public, private, and nonprofit universities, colleges, and vocational schools that are accredited and eligible to participate in student aid programs run by the U. Forms tax S. Forms tax Department of Education. Forms tax Reduction for certain benefits. Forms tax   You must reduce your qualified higher educational expenses by all of the following tax-free benefits. Forms tax Tax-free part of scholarships and fellowships (see Scholarships and fellowships in chapter 12). Forms tax Expenses used to figure the tax-free portion of distributions from a Coverdell ESA. Forms tax Expenses used to figure the tax-free portion of distributions from a qualified tuition program. Forms tax Any tax-free payments (other than gifts or inheritances) received for educational expenses, such as Veterans' educational assistance benefits, Qualified tuition reductions, or Employer-provided educational assistance. Forms tax Any expense used in figuring the American Opportunity and lifetime learning credits. Forms tax Amount excludable. Forms tax   If the total proceeds (interest and principal) from the qualified U. Forms tax S. Forms tax savings bonds you redeem during the year are not more than your adjusted qualified higher educational expenses for the year, you may be able to exclude all of the interest. Forms tax If the proceeds are more than the expenses, you may be able to exclude only part of the interest. Forms tax   To determine the excludable amount, multiply the interest part of the proceeds by a fraction. Forms tax The numerator of the fraction is the qualified higher educational expenses you paid during the year. Forms tax The denominator of the fraction is the total proceeds you received during the year. Forms tax Example. Forms tax In February 2013, Mark and Joan, a married couple, cashed a qualified series EE U. Forms tax S. Forms tax savings bond they bought in April 1997. Forms tax They received proceeds of $8,372 representing principal of $5,000 and interest of $3,372. Forms tax In 2013, they paid $4,000 of their daughter's college tuition. Forms tax They are not claiming an education credit for that amount, and their daughter does not have any tax-free educational assistance. Forms tax They can exclude $1,611 ($3,372 × ($4,000 ÷ $8,372)) of interest in 2013. Forms tax They must pay tax on the remaining $1,761 ($3,372 − $1,611) interest. Forms tax Modified adjusted gross income limit. Forms tax   The interest exclusion is limited if your modified adjusted gross income (modified AGI) is: $74,700 to $89,700 for taxpayers filing single or head of household, and $112,050 to $142,050 for married taxpayers filing jointly or for a qualifying widow(er) with dependent child. Forms tax You do not qualify for the interest exclusion if your modified AGI is equal to or more than the upper limit for your filing status. Forms tax   Modified AGI, for purposes of this exclusion, is adjusted gross income (Form 1040, line 37, or Form 1040A, line 21) figured before the interest exclusion, and modified by adding back any: Foreign earned income exclusion, Foreign housing exclusion and deduction, Exclusion of income for bona fide residents of American Samoa, Exclusion for income from Puerto Rico, Exclusion for adoption benefits received under an employer's adoption assistance program, Deduction for tuition and fees, Deduction for student loan interest, and Deduction for domestic production activities. Forms tax   Use the Line 9 Worksheet in the Form 8815 instructions to figure your modified AGI. Forms tax If you claim any of the exclusion or deduction items listed above (except items 6, 7, and 8), add the amount of the exclusion or deduction (except items 6, 7, and 8) to the amount on line 5 of the worksheet, and enter the total on Form 8815, line 9, as your modified AGI. Forms tax   If you have investment interest expense incurred to earn royalties and other investment income, see Education Savings Bond Program in chapter 1 of Publication 550. Forms tax Recordkeeping. Forms tax If you claim the interest exclusion, you must keep a written record of the qualified U. Forms tax S. Forms tax savings bonds you redeem. Forms tax Your record must include the serial number, issue date, face value, and total redemption proceeds (principal and interest) of each bond. Forms tax You can use Form 8818 to record this information. Forms tax You should also keep bills, receipts, canceled checks, or other documentation that shows you paid qualified higher educational expenses during the year. Forms tax U. Forms tax S. Forms tax Treasury Bills, Notes, and Bonds Treasury bills, notes, and bonds are direct debts (obligations) of the U. Forms tax S. Forms tax Government. Forms tax Taxation of interest. Forms tax   Interest income from Treasury bills, notes, and bonds is subject to federal income tax but is exempt from all state and local income taxes. Forms tax You should receive Form 1099-INT showing the interest (in box 3) paid to you for the year. Forms tax   Payments of principal and interest generally will be credited to your designated checking or savings account by direct deposit through the TreasuryDirect® system. Forms tax Treasury bills. Forms tax   These bills generally have a 4-week, 13-week, 26-week, or 52-week maturity period. Forms tax They are generally issued at a discount in the amount of $100 and multiples of $100. Forms tax The difference between the discounted price you pay for the bills and the face value you receive at maturity is interest income. Forms tax Generally, you report this interest income when the bill is paid at maturity. Forms tax If you paid a premium for a bill (more than the face value), you generally report the premium as a section 171 deduction when the bill is paid at maturity. Forms tax Treasury notes and bonds. Forms tax   Treasury notes have maturity periods of more than 1 year, ranging up to 10 years. Forms tax Maturity periods for Treasury bonds are longer than 10 years. Forms tax Both generally are issued in denominations of $100 to $1 million and generally pay interest every 6 months. Forms tax Generally, you report this interest for the year paid. Forms tax For more information, see U. Forms tax S. Forms tax Treasury Bills, Notes, and Bonds in chapter 1 of Publication 550. Forms tax For other information on Treasury notes or bonds, write to:  Bureau of the Public Debt P. Forms tax O. Forms tax Box 7015 Parkersburg, WV 26106-7015 Or, on the Internet, visit: www. Forms tax treasurydirect. Forms tax gov/indiv/indiv. Forms tax htm. Forms tax For information on series EE, series I, and series HH savings bonds, see U. Forms tax S. Forms tax Savings Bonds , earlier. Forms tax Treasury inflation-protected securities (TIPS). Forms tax   These securities pay interest twice a year at a fixed rate, based on a principal amount adjusted to take into account inflation and deflation. Forms tax For the tax treatment of these securities, see Inflation-Indexed Debt Instruments under Original Issue Discount (OID), in Publication 550. Forms tax Bonds Sold Between Interest Dates If you sell a bond between interest payment dates, part of the sales price represents interest accrued to the date of sale. Forms tax You must report that part of the sales price as interest income for the year of sale. Forms tax If you buy a bond between interest payment dates, part of the purchase price represents interest accrued before the date of purchase. Forms tax When that interest is paid to you, treat it as a return of your capital investment, rather than interest income, by reducing your basis in the bond. Forms tax See Accrued interest on bonds under How To Report Interest Income in chapter 1 of Publication 550 for information on reporting the payment. Forms tax Insurance Life insurance proceeds paid to you as beneficiary of the insured person are usually not taxable. Forms tax But if you receive the proceeds in installments, you must usually report a part of each installment payment as interest income. Forms tax For more information about insurance proceeds received in installments, see Publication 525, Taxable and Nontaxable Income. Forms tax Annuity. Forms tax   If you buy an annuity with life insurance proceeds, the annuity payments you receive are taxed as pension and annuity income from a nonqualified plan, not as interest income. Forms tax See chapter 10 for information on pension and annuity income from nonqualified plans. Forms tax State or Local Government Obligations Interest on a bond used to finance government operations generally is not taxable if the bond is issued by a state, the District of Columbia, a possession of the United States, or any of their political subdivisions. Forms tax Bonds issued after 1982 (including tribal economic development bonds issued after February 17, 2009) by an Indian tribal government are treated as issued by a state. Forms tax Interest on these bonds is generally tax exempt if the bonds are part of an issue of which substantially all proceeds are to be used in the exercise of any essential government function. Forms tax For information on federally guaranteed bonds, mortgage revenue bonds, arbitrage bonds, private activity bonds, qualified tax credit bonds, and Build America bonds, see State or Local Government Obligations in chapter 1 of Publication 550. Forms tax Information reporting requirement. Forms tax   If you must file a tax return, you are required to show any tax-exempt interest you received on your return. Forms tax This is an information reporting requirement only. Forms tax It does not change tax-exempt interest to taxable interest. Forms tax Original Issue Discount (OID) Original issue discount (OID) is a form of interest. Forms tax You generally include OID in your income as it accrues over the term of the debt instrument, whether or not you receive any payments from the issuer. Forms tax A debt instrument generally has OID when the instrument is issued for a price that is less than its stated redemption price at maturity. Forms tax OID is the difference between the stated redemption price at maturity and the issue price. Forms tax All debt instruments that pay no interest before maturity are presumed to be issued at a discount. Forms tax Zero coupon bonds are one example of these instruments. Forms tax The OID accrual rules generally do not apply to short-term obligations (those with a fixed maturity date of 1 year or less from date of issue). Forms tax See Discount on Short-Term Obligations in chapter 1 of Publication 550. Forms tax De minimis OID. Forms tax   You can treat the discount as zero if it is less than one-fourth of 1% (. Forms tax 0025) of the stated redemption price at maturity multiplied by the number of full years from the date of original issue to maturity. Forms tax This small discount is known as “de minimis” OID. Forms tax Example 1. Forms tax You bought a 10-year bond with a stated redemption price at maturity of $1,000, issued at $980 with OID of $20. Forms tax One-fourth of 1% of $1,000 (stated redemption price) times 10 (the number of full years from the date of original issue to maturity) equals $25. Forms tax Because the $20 discount is less than $25, the OID is treated as zero. Forms tax (If you hold the bond at maturity, you will recognize $20 ($1,000 − $980) of capital gain. Forms tax ) Example 2. Forms tax The facts are the same as in Example 1, except that the bond was issued at $950. Forms tax The OID is $50. Forms tax Because the $50 discount is more than the $25 figured in Example 1, you must include the OID in income as it accrues over the term of the bond. Forms tax Debt instrument bought after original issue. Forms tax   If you buy a debt instrument with de minimis OID at a premium, the discount is not includible in income. Forms tax If you buy a debt instrument with de minimis OID at a discount, the discount is reported under the market discount rules. Forms tax See Market Discount Bonds in chapter 1 of Publication 550. Forms tax Exceptions to reporting OID. Forms tax   The OID rules discussed in this chapter do not apply to the following debt instruments. Forms tax Tax-exempt obligations. Forms tax (However, see Stripped tax-exempt obligations under Stripped Bonds and Coupons in chapter 1 of Publication 550). Forms tax U. Forms tax S. Forms tax savings bonds. Forms tax Short-term debt instruments (those with a fixed maturity date of not more than 1 year from the date of issue). Forms tax Obligations issued by an individual before March 2, 1984. Forms tax Loans between individuals if all the following are true. Forms tax The lender is not in the business of lending money. Forms tax The amount of the loan, plus the amount of any outstanding prior loans between the same individuals, is $10,000 or less. Forms tax Avoiding any federal tax is not one of the principal purposes of the loan. Forms tax Form 1099-OID. Forms tax   The issuer of the debt instrument (or your broker if you held the instrument through a broker) should give you Form 1099-OID, or a similar statement, if the total OID for the calendar year is $10 or more. Forms tax Form 1099-OID will show, in box 1, the amount of OID for the part of the year that you held the bond. Forms tax It also will show, in box 2, the stated interest you must include in your income. Forms tax A copy of Form 1099-OID will be sent to the IRS. Forms tax Do not file your copy with your return. Forms tax Keep it for your records. Forms tax   In most cases, you must report the entire amount in boxes 1 and 2 of Form 1099-OID as interest income. Forms tax But see Refiguring OID shown on Form 1099-OID, later in this discussion, for more information. Forms tax Form 1099-OID not received. Forms tax   If you had OID for the year but did not receive a Form 1099-OID, you can find tables on IRS. Forms tax gov that list total OID on certain debt instruments and have information that will help you figure OID. Forms tax For the latest OID tables, go to www. Forms tax irs. Forms tax gov and enter “OID tables” in the Search box. Forms tax If your debt instrument is not listed, consult the issuer for further information about the accrued OID for the year. Forms tax Nominee. Forms tax   If someone else is the holder of record (the registered owner) of an OID instrument belonging to you and receives a Form 1099-OID on your behalf, that person must give you a Form 1099-OID. Forms tax Refiguring OID shown on Form 1099-OID. Forms tax   You must refigure the OID shown in box 1 or box 8 of Form 1099-OID if either of the following apply. Forms tax You bought the debt instrument after its original issue and paid a premium or an acquisition premium. Forms tax The debt instrument is a stripped bond or a stripped coupon (including certain zero coupon instruments). Forms tax For information about figuring the correct amount of OID to include in your income, see Figuring OID on Long-Term Debt Instruments in Publication 1212. Forms tax Refiguring periodic interest shown on Form 1099-OID. Forms tax   If you disposed of a debt instrument or acquired it from another holder during the year, see Bonds Sold Between Interest Dates , earlier, for information about the treatment of periodic interest that may be shown in box 2 of Form 1099-OID for that instrument. Forms tax Certificates of deposit (CDs). Forms tax   If you buy a CD with a maturity of more than 1 year, you must include in income each year a part of the total interest due and report it in the same manner as other OID. Forms tax   This also applies to similar deposit arrangements with banks, building and loan associations, etc. Forms tax , including: Time deposits, Bonus plans, Savings certificates, Deferred income certificates, Bonus savings certificates, and Growth savings certificates. Forms tax Bearer CDs. Forms tax   CDs issued after 1982 generally must be in registered form. Forms tax Bearer CDs are CDs not in registered form. Forms tax They are not issued in the depositor's name and are transferable from one individual to another. Forms tax   Banks must provide the IRS and the person redeeming a bearer CD with a Form 1099-INT. Forms tax More information. Forms tax   See chapter 1 of Publication 550 for more information about OID and related topics, such as market discount bonds. Forms tax When To Report Interest Income When to report your interest income depends on whether you use the cash method or an accrual method to report income. Forms tax Cash method. Forms tax   Most individual taxpayers use the cash method. Forms tax If you use this method, you generally report your interest income in the year in which you actually or constructively receive it. Forms tax However, there are special rules for reporting the discount on certain debt instruments. Forms tax See U. Forms tax S. Forms tax Savings Bonds and Original Issue Discount (OID) , earlier. Forms tax Example. Forms tax On September 1, 2011, you loaned another individual $2,000 at 12%, compounded annually. Forms tax You are not in the business of lending money. Forms tax The note stated that principal and interest would be due on August 31, 2013. Forms tax In 2013, you received $2,508. Forms tax 80 ($2,000 principal and $508. Forms tax 80 interest). Forms tax If you use the cash method, you must include in income on your 2013 return the $508. Forms tax 80 interest you received in that year. Forms tax Constructive receipt. Forms tax   You constructively receive income when it is credited to your account or made available to you. Forms tax You do not need to have physical possession of it. Forms tax For example, you are considered to receive interest, dividends, or other earnings on any deposit or account in a bank, savings and loan, or similar financial institution, or interest on life insurance policy dividends left to accumulate, when they are credited to your account and subject to your withdrawal. Forms tax This is true even if they are not yet entered in your passbook. Forms tax   You constructively receive income on the deposit or account even if you must: Make withdrawals in multiples of even amounts, Give a notice to withdraw before making the withdrawal, Withdraw all or part of the account to withdraw the earnings, or Pay a penalty on early withdrawals, unless the interest you are to receive on an early withdrawal or redemption is substantially less than the interest payable at maturity. Forms tax Accrual method. Forms tax   If you use an accrual method, you report your interest income when you earn it, whether or not you have received it. Forms tax Interest is earned over the term of the debt instrument. Forms tax Example. Forms tax If, in the previous example, you use an accrual method, you must include the interest in your income as you earn it. Forms tax You would report the interest as follows: 2011, $80; 2012, $249. Forms tax 60; and 2013, $179. Forms tax 20. Forms tax Coupon bonds. Forms tax   Interest on coupon bonds is taxable in the year the coupon becomes due and payable. Forms tax It does not matter when you mail the coupon for payment. Forms tax How To Report Interest Income Generally, you report all your taxable interest income on Form 1040, line 8a; Form 1040A, line 8a; or Form 1040EZ, line 2. Forms tax You cannot use Form 1040EZ if your taxable interest income is more than $1,500. Forms tax Instead, you must use Form 1040A or Form 1040. Forms tax Form 1040A. Forms tax   You must complete Schedule B (Form 1040A or 1040), Part I, if you file Form 1040A and any of the following are true. Forms tax Your taxable interest income is more than $1,500. Forms tax You are claiming the interest exclusion under the Education Savings Bond Program (discussed earlier). Forms tax You received interest from a seller-financed mortgage, and the buyer used the property as a home. Forms tax You received a Form 1099-INT for U. Forms tax S. Forms tax savings bond interest that includes amounts you reported before 2013. Forms tax You received, as a nominee, interest that actually belongs to someone else. Forms tax You received a Form 1099-INT for interest on frozen deposits. Forms tax You are reporting OID in an amount less than the amount shown on Form 1099-OID. Forms tax You received a Form 1099-INT for interest on a bond you bought between interest payment dates. Forms tax You acquired taxable bonds after 1987 and choose to reduce interest income from the bonds by any amortizable bond premium (see Bond Premium Amortization in chapter 3 of Publication 550). Forms tax List each payer's name and the amount of interest income received from each payer on line 1. Forms tax If you received a Form 1099-INT or Form 1099-OID from a brokerage firm, list the brokerage firm as the payer. Forms tax   You cannot use Form 1040A if you must use Form 1040, as described next. Forms tax Form 1040. Forms tax   You must use Form 1040 instead of Form 1040A or Form 1040EZ if: You forfeited interest income because of the early withdrawal of a time deposit; You acquired taxable bonds after 1987, you choose to reduce interest income from the bonds by any amortizable bond premium, and you are deducting the excess of bond premium amortization for the accrual period over the qualified stated interest for the period (see Bond Premium Amortization in chapter 3 of Publication 550); or You received tax-exempt interest from private activity bonds issued after August 7, 1986. Forms tax Schedule B (Form 1040A or 1040). Forms tax   You must complete Schedule B (Form 1040A or 1040), Part I, if you file Form 1040 and any of the following apply. Forms tax Your taxable interest income is more than $1,500. Forms tax You are claiming the interest exclusion under the Education Savings Bond Program (discussed earlier). Forms tax You received interest from a seller-financed mortgage, and the buyer used the property as a home. Forms tax You received a Form 1099-INT for U. Forms tax S. Forms tax savings bond interest that includes amounts you reported before 2013. Forms tax You received, as a nominee, interest that actually belongs to someone else. Forms tax You received a Form 1099-INT for interest on frozen deposits. Forms tax You received a Form 1099-INT for interest on a bond you bought between interest payment dates. Forms tax You are reporting OID in an amount less than the amount shown on Form 1099-OID. Forms tax Statement (2) in the preceding list under Form 1040 is true. Forms tax In Part I, line 1, list each payer's name and the amount received from each. Forms tax If you received a Form 1099-INT or Form 1099-OID from a brokerage firm, list the brokerage firm as the payer. Forms tax Reporting tax-exempt interest. Forms tax   Total your tax-exempt interest (such as interest or accrued OID on certain state and municipal bonds, including tax-exempt interest on zero coupon municipal bonds) and exempt-interest dividends from a mutual fund as shown on Form 1099-INT, box 8, and on Form 1099-DIV, box 10. Forms tax Add these amounts to any other tax-exempt interest you received. Forms tax Report the total on line 8b of Form 1040A or 1040. Forms tax   If you file Form 1040EZ, enter “TEI” and the amount in the space to the left of line 2. Forms tax Do not add tax-exempt interest in the total on Form 1040EZ, line 2. Forms tax   Form 1099-INT, box 9, and Form 1099-DIV, box 11, show the tax-exempt interest subject to the alternative minimum tax on Form 6251. Forms tax These amounts are already included in the amounts on Form 1099-INT, box 8, and Form 1099-DIV, box 10. Forms tax Do not add the amounts in Form 1099-INT, box 9 and Form 1099-DIV, box 11 to, or subtract them from, the amounts on Form 1099-INT, box 8, and Form 1099-DIV, box 10. Forms tax    Do not report interest from an individual retirement account (IRA) as tax-exempt interest. Forms tax Form 1099-INT. Forms tax   Your taxable interest income, except for interest from U. Forms tax S. Forms tax savings bonds and Treasury obligations, is shown in box 1 of Form 1099-INT. Forms tax Add this amount to any other taxable interest income you received. Forms tax You must report all of your taxable interest income even if you do not receive a Form 1099-INT. Forms tax Generally, contact your financial institution if you do not receive a Form 1099-INT by February 15. Forms tax Your identifying number may be truncated on any paper Form 1099-INT you receive. Forms tax   If you forfeited interest income because of the early withdrawal of a time deposit, the deductible amount will be shown on Form 1099-INT in box 2. Forms tax See Penalty on early withdrawal of savings in chapter 1 of Publication 550. Forms tax   Box 3 of Form 1099-INT shows the interest income you received from U. Forms tax S. Forms tax savings bonds, Treasury bills, Treasury notes, and Treasury bonds. Forms tax Add the amount shown in box 3 to any other taxable interest income you received, unless part of the amount in box 3 was previously included in your interest income. Forms tax If part of the amount shown in box 3 was previously included in your interest income, see U. Forms tax S. Forms tax savings bond interest previously reported , later. Forms tax   Box 4 of Form 1099-INT will contain an amount if you were subject to backup withholding. Forms tax Report the amount from box 4 on Form 1040EZ, line 7; on Form 1040A, line 36; or Form 1040, line 62 (federal income tax withheld). Forms tax   Box 5 of Form 1099-INT shows investment expenses you may be able to deduct as an itemized deduction. Forms tax See chapter 28 for more information about investment expenses. Forms tax   If there are entries in boxes 6 and 7 of Form 1099-INT, you must file Form 1040. Forms tax You may be able to take a credit for the amount shown in box 6 unless you deduct this amount on line 8 of Schedule A (Form 1040). Forms tax To take the credit, you may have to file Form 1116, Foreign Tax Credit. Forms tax For more information, see Publication 514, Foreign Tax Credit for Individuals. Forms tax U. Forms tax S. Forms tax savings bond interest previously reported. Forms tax   If you received a Form 1099-INT for U. Forms tax S. Forms tax savings bond interest, the form may show interest you do not have to report. Forms tax See Form 1099-INT for U. Forms tax S. Forms tax savings bonds interest , earlier, under U. Forms tax S. Forms tax Savings Bonds. Forms tax   On Schedule B (Form 1040A or 1040), Part I, line 1, report all the interest shown on your Form 1099-INT. Forms tax Then follow these steps. Forms tax Several lines above line 2, enter a subtotal of all interest listed on line 1. Forms tax Below the subtotal enter “U. Forms tax S. Forms tax Savings Bond Interest Previously Reported” and enter amounts previously reported or interest accrued before you received the bond. Forms tax Subtract these amounts from the subtotal and enter the result on line 2. Forms tax More information. Forms tax   For more information about how to report interest income, see chapter 1 of Publication 550 or the instructions for the form you must file. Forms tax Prev  Up  Next   Home   More Online Publications
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IRS Releases the “Dirty Dozen” Tax Scams for 2014; Identity Theft, Phone Scams Lead List

IR-2014-16, Feb. 19, 2014

WASHINGTON — The Internal Revenue Service today issued its annual “Dirty Dozen” list of tax scams, reminding taxpayers to use caution during tax season to protect themselves against a wide range of schemes ranging from identity theft to return preparer fraud.

The Dirty Dozen listing, compiled by the IRS each year, lists a variety of common scams taxpayers can encounter at any point during the year. But many of these schemes peak during filing season as people prepare their tax returns.

"Taxpayers should be on the lookout for tax scams using the IRS name,” said IRS Commissioner John Koskinen. “These schemes jump every year at tax time. Scams can be sophisticated and take many different forms. We urge people to protect themselves and use caution when viewing e-mails, receiving telephone calls or getting advice on tax issues.”

Illegal scams can lead to significant penalties and interest and possible criminal prosecution. IRS Criminal Investigation works closely with the Department of Justice (DOJ) to shutdown scams and prosecute the criminals behind them.

The following are the Dirty Dozen tax scams for 2014:

Identity Theft

Tax fraud through the use of identity theft tops this year’s Dirty Dozen list. Identity theft occurs when someone uses your personal information, such as your name, Social Security number (SSN) or other identifying information, without your permission, to commit fraud or other crimes. In many cases, an identity thief uses a legitimate taxpayer’s identity to fraudulently file a tax return and claim a refund.

The agency’s work on identity theft and refund fraud continues to grow, touching nearly every part of the organization. For the 2014 filing season, the IRS has expanded these efforts to better protect taxpayers and help victims.

The IRS has a special section on IRS.gov dedicated to identity theft issues, including YouTube videos, tips for taxpayers and an assistance guide. For victims, the information includes how to contact the IRS Identity Protection Specialized Unit. For other taxpayers, there are tips on how taxpayers can protect themselves against identity theft.

Taxpayers who believe they are at risk of identity theft due to lost or stolen personal information should contact the IRS immediately so the agency can take action to secure their tax account. Taxpayers can call the IRS Identity Protection Specialized Unit at 800-908-4490. More information can be found on the special identity protection page.

Pervasive Telephone Scams

The IRS has seen a recent increase in local phone scams across the country, with callers pretending to be from the IRS in hopes of stealing money or identities from victims.

These phone scams include many variations, ranging from instances from where callers say the victims owe money or are entitled to a huge refund. Some calls can threaten arrest and threaten a driver’s license revocation. Sometimes these calls are paired with follow-up calls from people saying they are from the local police department or the state motor vehicle department.

Characteristics of these scams can include:

  • Scammers use fake names and IRS badge numbers. They generally use common names and surnames to identify themselves.
  • Scammers may be able to recite the last four digits of a victim’s Social Security Number.
  • Scammers “spoof” or imitate the IRS toll-free number on caller ID to make it appear that it’s the IRS calling.
  • Scammers sometimes send bogus IRS emails to some victims to support their bogus calls.
  • Victims hear background noise of other calls being conducted to mimic a call site.

After threatening victims with jail time or a driver’s license revocation, scammers hang up and others soon call back pretending to be from the local police or DMV, and the caller ID supports their claim.

In another variation, one sophisticated phone scam has targeted taxpayers, including recent immigrants, throughout the country. Victims are told they owe money to the IRS and it must be paid promptly through a pre-loaded debit card or wire transfer. If the victim refuses to cooperate, they are then threatened with arrest, deportation or suspension of a business or driver’s license. In many cases, the caller becomes hostile and insulting.

If you get a phone call from someone claiming to be from the IRS, here’s what you should do: If you know you owe taxes or you think you might owe taxes, call the IRS at 800-829-1040. The IRS employees at that line can help you with a payment issue – if there really is such an issue.

If you know you don’t owe taxes or have no reason to think that you owe any taxes (for example, you’ve never received a bill or the caller made some bogus threats as described above), then call and report the incident to the Treasury Inspector General for Tax Administration at 800-366-4484.

If you’ve been targeted by these scams, you should also contact the Federal Trade Commission and use their “FTC Complaint Assistant” at FTC.gov.  Please add "IRS Telephone Scam" to the comments of your complaint.

Phishing

Phishing is a scam typically carried out with the help of unsolicited email or a fake website that poses as a legitimate site to lure in potential victims and prompt them to provide valuable personal and financial information. Armed with this information, a criminal can commit identity theft or financial theft.

If you receive an unsolicited email that appears to be from either the IRS or an organization closely linked to the IRS, such as the Electronic Federal Tax Payment System (EFTPS), report it by sending it to phishing@irs.gov.

It is important to keep in mind the IRS does not initiate contact with taxpayers by email to request personal or financial information. This includes any type of electronic communication, such as text messages and social media channels. The IRS has information online that can help you protect yourself from email scams.

False Promises of “Free Money” from Inflated Refunds

Scam artists routinely pose as tax preparers during tax time, luring victims in by promising large federal tax refunds or refunds that people never dreamed they were due in the first place.

Scam artists use flyers, advertisements, phony store fronts and even word of mouth to throw out a wide net for victims. They may even spread the word through community groups or churches where trust is high. Scammers prey on people who do not have a filing requirement, such as low-income individuals or the elderly. They also prey on non-English speakers, who may or may not have a filing requirement.

Scammers build false hope by duping people into making claims for fictitious rebates, benefits or tax credits. They charge good money for very bad advice. Or worse, they file a false return in a person's name and that person never knows that a refund was paid.

Scam artists also victimize people with a filing requirement and due a refund by promising inflated refunds based on fictitious Social Security benefits and false claims for education credits, the Earned Income Tax Credit (EITC), or the American Opportunity Tax Credit, among others.

The IRS sometimes hears about scams from victims complaining about losing their federal benefits, such as Social Security benefits, certain veteran’s benefits or low-income housing benefits. The loss of benefits was the result of false claims being filed with the IRS that provided false income amounts.

While honest tax preparers provide their customers a copy of the tax return they’ve prepared, victims of scam frequently are not given a copy of what was filed. Victims also report that the fraudulent refund is deposited into the scammer’s bank account. The scammers deduct a large “fee” before cutting a check to the victim, a practice not used by legitimate tax preparers.

The IRS reminds all taxpayers that they are legally responsible for what’s on their returns even if it was prepared by someone else. Taxpayers who buy into such schemes can end up being penalized for filing false claims or receiving fraudulent refunds.

Taxpayers should take care when choosing an individual or firm to prepare their taxes. Honest return preparers generally: ask for proof of income and eligibility for credits and deductions; sign returns as the preparer; enter their IRS Preparer Tax Identification Number (PTIN); provide the taxpayer a copy of the return.

Beware: Intentional mistakes of this kind can result in a $5,000 penalty.

Return Preparer Fraud

About 60 percent of taxpayers will use tax professionals this year to prepare their tax returns. Most return preparers provide honest service to their clients. But, some unscrupulous preparers prey on unsuspecting taxpayers, and the result can be refund fraud or identity theft.

It is important to choose carefully when hiring an individual or firm to prepare your return. This year, the IRS wants to remind all taxpayers that they should use only preparers who sign the returns they prepare and enter their IRS Preparer Tax Identification Numbers (PTINs).

The IRS also has a web page to assist taxpayers. For tips about choosing a preparer, details on preparer qualifications and information on how and when to make a complaint, view IRS Fact Sheet 2014-5, IRS Offers Advice on How to Choose a Tax Preparer.

Remember: Taxpayers are legally responsible for what’s on their tax return even if it is prepared by someone else. Make sure the preparer you hire is up to the task.

IRS.gov has general information on reporting tax fraud. More specifically, you report abusive tax preparers to the IRS on Form 14157, Complaint: Tax Return Preparer. Download Form 14157 and fill it out or order by mail at 800-TAX FORM (800-829-3676). The form includes a return address.

Hiding Income Offshore

Over the years, numerous individuals have been identified as evading U.S. taxes by hiding income in offshore banks, brokerage accounts or nominee entities and then using debit cards, credit cards or wire transfers to access the funds. Others have employed foreign trusts, employee-leasing schemes, private annuities or insurance plans for the same purpose.

The IRS uses information gained from its investigations to pursue taxpayers with undeclared accounts, as well as the banks and bankers suspected of helping clients hide their assets overseas. The IRS works closely with the Department of Justice (DOJ) to prosecute tax evasion cases.

While there are legitimate reasons for maintaining financial accounts abroad, there are reporting requirements that need to be fulfilled. U.S. taxpayers who maintain such accounts and who do not comply with reporting requirements are breaking the law and risk significant penalties and fines, as well as the possibility of criminal prosecution.

Since 2009, tens of thousands of individuals have come forward voluntarily to disclose their foreign financial accounts, taking advantage of special opportunities to comply with the U.S. tax system and resolve their tax obligations. And, with new foreign account reporting requirements being phased in over the next few years, hiding income offshore is increasingly more difficult.

At the beginning of 2012, the IRS reopened the Offshore Voluntary Disclosure Program (OVDP) following continued strong interest from taxpayers and tax practitioners after the closure of the 2011 and 2009 programs. The IRS works on a wide range of international tax issues with DOJ to pursue criminal prosecution of international tax evasion. This program will be open for an indefinite period until otherwise announced.

The IRS has collected billions of dollars in back taxes, interest and penalties so far from people who participated in offshore voluntary disclosure programs since 2009. It is in the best long-term interest of taxpayers to come forward, catch up on their filing requirements and pay their fair share.

Impersonation of Charitable Organizations

Another long-standing type of abuse or fraud is scams that occur in the wake of significant natural disasters.

Following major disasters, it’s common for scam artists to impersonate charities to get money or private information from well-intentioned taxpayers. Scam artists can use a variety of tactics. Some scammers operating bogus charities may contact people by telephone or email to solicit money or financial information. They may even directly contact disaster victims and claim to be working for or on behalf of the IRS to help the victims file casualty loss claims and get tax refunds.

They may attempt to get personal financial information or Social Security numbers that can be used to steal the victims’ identities or financial resources. Bogus websites may solicit funds for disaster victims. The IRS cautions both victims of natural disasters and people wishing to make charitable donations to avoid scam artists by following these tips:

  • To help disaster victims, donate to recognized charities.
  • Be wary of charities with names that are similar to familiar or nationally known organizations. Some phony charities use names or websites that sound or look like those of respected, legitimate organizations. IRS.gov has a search feature, Exempt Organizations Select Check, which allows people to find legitimate, qualified charities to which donations may be tax-deductible.
  • Don’t give out personal financial information, such as Social Security numbers or credit card and bank account numbers and passwords, to anyone who solicits a contribution from you. Scam artists may use this information to steal your identity and money.
  • Don’t give or send cash. For security and tax record purposes, contribute by check or credit card or another way that provides documentation of the gift.

Call the IRS toll-free disaster assistance telephone number (866-562-5227) if you are a disaster victim with specific questions about tax relief or disaster related tax issues.

False Income, Expenses or Exemptions

Another scam involves inflating or including income on a tax return that was never earned, either as wages or as self-employment income in order to maximize refundable credits. Claiming income you did not earn or expenses you did not pay in order to secure larger refundable credits such as the Earned Income Tax Credit could have serious repercussions. This could result in repaying the erroneous refunds, including interest and penalties, and in some cases, even prosecution.

Additionally, some taxpayers are filing excessive claims for the fuel tax credit. Farmers and other taxpayers who use fuel for off-highway business purposes may be eligible for the fuel tax credit. But other individuals have claimed the tax credit although they were not eligible. Fraud involving the fuel tax credit is considered a frivolous tax claim and can result in a penalty of $5,000.

Frivolous Arguments

Promoters of frivolous schemes encourage taxpayers to make unreasonable and outlandish claims to avoid paying the taxes they owe. The IRS has a list of frivolous tax arguments that taxpayers should avoid. These arguments are wrong and have been thrown out of court. While taxpayers have the right to contest their tax liabilities in court, no one has the right to disobey the law or disregard their responsibility to pay taxes.

Those who promote or adopt frivolous positions risk a variety of penalties.  For example, taxpayers could be responsible for an accuracy-related penalty, a civil fraud penalty, an erroneous refund claim penalty, or a failure to file penalty.  The Tax Court may also impose a penalty against taxpayers who make frivolous arguments in court.   

Taxpayers who rely on frivolous arguments and schemes may also face criminal prosecution for attempting to evade or defeat tax. Similarly, taxpayers may be convicted of a felony for willfully making and signing under penalties of perjury any return, statement, or other document that the person does not believe to be true and correct as to every material matter.  Persons who promote frivolous arguments and those who assist taxpayers in claiming tax benefits based on frivolous arguments may be prosecuted for a criminal felony.

Falsely Claiming Zero Wages or Using False Form 1099

Filing a phony information return is an illegal way to lower the amount of taxes an individual owes. Typically, a Form 4852 (Substitute Form W-2) or a “corrected” Form 1099 is used as a way to improperly reduce taxable income to zero. The taxpayer may also submit a statement rebutting wages and taxes reported by a payer to the IRS.

Sometimes, fraudsters even include an explanation on their Form 4852 that cites statutory language on the definition of wages or may include some reference to a paying company that refuses to issue a corrected Form W-2 for fear of IRS retaliation. Taxpayers should resist any temptation to participate in any variations of this scheme. Filing this type of return may result in a $5,000 penalty.

Some people also attempt fraud using false Form 1099 refund claims. In some cases, individuals have made refund claims based on the bogus theory that the federal government maintains secret accounts for U.S. citizens and that taxpayers can gain access to the accounts by issuing 1099-OID forms to the IRS. In this ongoing scam, the perpetrator files a fake information return, such as a Form 1099 Original Issue Discount (OID), to justify a false refund claim on a corresponding tax return.

Don’t fall prey to people who encourage you to claim deductions or credits to which you are not entitled or willingly allow others to use your information to file false returns. If you are a party to such schemes, you could be liable for financial penalties or even face criminal prosecution.

Abusive Tax Structures

Abusive tax schemes have evolved from simple structuring of abusive domestic and foreign trust arrangements into sophisticated strategies that take advantage of the financial secrecy laws of some foreign jurisdictions and the availability of credit/debit cards issued from offshore financial institutions.

IRS Criminal Investigation (CI) has developed a nationally coordinated program to combat these abusive tax schemes. CI's primary focus is on the identification and investigation of the tax scheme promoters as well as those who play a substantial or integral role in facilitating, aiding, assisting, or furthering the abusive tax scheme (e.g., accountants, lawyers).  Secondarily, but equally important, is the investigation of investors who knowingly participate in abusive tax schemes.

What is an abusive scheme? The Abusive Tax Schemes program encompasses violations of the Internal Revenue Code (IRC) and related statutes where multiple flow-through entities are used as an integral part of the taxpayer's scheme to evade taxes.  These schemes are characterized by the use of Limited Liability Companies (LLCs), Limited Liability Partnerships (LLPs), International Business Companies (IBCs), foreign financial accounts, offshore credit/debit cards and other similar instruments.  The schemes are usually complex involving multi-layer transactions for the purpose of concealing the true nature and ownership of the taxable income and/or assets.

Form over substance are the most important words to remember before buying into any arrangements that promise to "eliminate" or "substantially reduce" your tax liability.  The promoters of abusive tax schemes often employ financial instruments in their schemes.  However, the instruments are used for improper purposes including the facilitation of tax evasion.

The IRS encourages taxpayers to report unlawful tax evasion. Where Do You Report Suspected Tax Fraud Activity?

Misuse of Trusts

Trusts also commonly show up in abusive tax structures. They are highlighted here because unscrupulous promoters continue to urge taxpayers to transfer large amounts of assets into trusts. These assets include not only cash and investments, but also successful on-going businesses. There are legitimate uses of trusts in tax and estate planning, but the IRS commonly sees highly questionable transactions. These transactions promise reduced taxable income, inflated deductions for personal expenses, the reduction or elimination of self-employment taxes and reduced estate or gift transfer taxes. These transactions commonly arise when taxpayers are transferring wealth from one generation to another. Questionable trusts rarely deliver the tax benefits promised and are used primarily as a means of avoiding income tax liability and hiding assets from creditors, including the IRS.

IRS personnel continue to see an increase in the improper use of private annuity trusts and foreign trusts to shift income and deduct personal expenses, as well as to avoid estate transfer taxes. As with other arrangements, taxpayers should seek the advice of a trusted professional before entering a trust arrangement.

The IRS reminds taxpayers that tax scams can take many forms beyond the “Dirty Dozen,” and people should be on the lookout for many other schemes. More information on tax scams is available at IRS.gov.

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Page Last Reviewed or Updated: 21-Feb-2014

The Forms Tax

Forms tax 15. Forms tax   Venta de su Vivienda Table of Contents Recordatorio Introduction Useful Items - You may want to see: Vivienda Principal Cómo Calcular las Pérdidas o Ganancias Precio de Venta Cantidad Recibida Base Ajustada Cantidad de Pérdidas o Ganancias Enajenaciones que no Sean Ventas Cómo Determinar la Base Cómo Excluir las GananciasExclusión Máxima Requisitos de Propietario y de Uso Exclusión Máxima Reducida Uso Comercial o Alquiler de Vivienda Cómo Declarar la VentaHipoteca financiada por el vendedor. Forms tax Información adicional. Forms tax Situaciones EspecialesExcepción para ventas a personas emparentadas o vinculadas. Forms tax Recuperación (Devolución) de un Subsidio Hipotecario Federal Recordatorio Venta de vivienda con puntos no deducidos. Forms tax  Si no ha deducido todos los puntos que pagó para asegurar una hipoteca sobre su vivienda anterior, tal vez pueda deducir los puntos restantes en el año de la venta. Forms tax Consulte Hipoteca que termina antes del plazo de vigencia convenido bajo Puntos en el capítulo 23. Forms tax Introduction Este capítulo explica las reglas tributarias que son aplicables cuando vende su vivienda principal. Forms tax En la mayoría de los casos, su vivienda principal es aquélla en la que vive la mayor parte del tiempo. Forms tax Si vendió su vivienda principal en el año 2013, es posible que pueda excluir de sus ingresos todas las ganancias hasta un máximo de $250,000 ($500,000 en una declaración conjunta, en la mayoría de los casos). Forms tax Consulte Cómo Excluir las Ganancias , más adelante. Forms tax Generalmente, si puede excluir todas las ganancias, no es necesario que declare dicha venta en su declaración de impuestos. Forms tax Si tiene ganancias que no se pueden excluir, éstas son tributables. Forms tax Declare estas ganancias en el Formulario 8949, Sales and Other Dispositions of Capital Assets (Ventas y otras enajenaciones de bienes de capital), en inglés, y en el Anexo D (Formulario 1040). Forms tax Es posible que también tenga que llenar el Formulario 4797, Sales of Business Property (Ventas de propiedad comercial), en inglés. Forms tax Consulte Cómo Declarar la Venta , más adelante. Forms tax Si tiene pérdidas de la venta, generalmente no puede deducirlas en su declaración. Forms tax Sin embargo, podría verse obligado a declararlas. Forms tax Consulte Cómo Declarar la Venta , más adelante. Forms tax Los temas principales de este capítulo son los siguientes: Cómo calcular las pérdidas o ganancias. Forms tax Cómo determinar la base. Forms tax Cómo excluir las ganancias. Forms tax Requisitos de propiedad y de uso. Forms tax Cómo declarar la venta. Forms tax Otros temas incluyen lo siguiente: Uso comercial o alquiler de vivienda. Forms tax Recuperación de un subsidio hipotecario federal. Forms tax Useful Items - You may want to see: Publicación 523 Selling Your Home (Venta de su vivienda), en inglés 530 Tax Information for Homeowners (Información tributaria para propietarios de vivienda), en inglés 547(SP) Hechos Fortuitos, Desastres y Robos Formulario (e Instrucciones) Anexo D (Formulario 1040) Capital Gains and Losses (Ganancias y pérdidas de capital), en inglés 982 Reduction of Tax Attributes Due to Discharge of Indebtedness (Reducción de atributos tributarios debido a la liquidación de deudas), en inglés 8828 Recapture of Federal Mortgage Subsidy (Recuperación del subsidio hipotecario federal), en inglés 8949 Sales and Other Dispositions of Capital Assets (Ventas y otras enajenaciónes de bienes de capital), en inglés Vivienda Principal Esta sección explica el término “vivienda principal”. Forms tax Generalmente, la vivienda en que usted vive la mayor parte del tiempo es su vivienda principal y puede ser un(a): Casa, Casa flotante, Casa rodante, Apartamento de cooperativa o Condominio. Forms tax Para excluir ganancias según las reglas del presente capítulo, en la mayoría de los casos tiene que haber sido propietario y habitado la propiedad como vivienda principal durante un mínimo de 2 años durante el período de 5 años que termina en la fecha de la venta. Forms tax Terreno. Forms tax   Si vende el terreno en que se encuentra ubicada su vivienda principal, pero no la casa misma, no puede excluir ganancias provenientes de la venta del terreno. Forms tax Sin embargo, si vende terrenos baldíos usados como parte de su vivienda principal y contiguos a la misma, tal vez pueda excluir la ganancia proveniente de la venta de dichos terrenos en ciertos casos. Forms tax Vea Vacant land (Terreno baldío), bajo Main Home (Vivienda principal) en la Publicación 523, en inglés, para más información. Forms tax Ejemplo. Forms tax Compra un terreno y traslada su vivienda principal ahí. Forms tax Luego, vende el terreno en que se encuentra ubicada su vivienda principal. Forms tax Esta venta no se considera venta de su vivienda principal y no puede excluir las ganancias provenientes de la venta del terreno. Forms tax Más de una vivienda. Forms tax   Si es propietario de más de una vivienda, solamente puede excluir las ganancias de la venta de su vivienda principal. Forms tax Tiene que incluir en sus ingresos las ganancias procedentes de la venta de cualquier otra vivienda. Forms tax Si es propietario de dos viviendas y vive en ambas, su vivienda principal generalmente es aquella en que vive la mayor parte del tiempo durante el año. Forms tax Ejemplo 1. Forms tax Usted es propietario de dos casas, una en Nueva York y otra en Florida. Forms tax Entre 2009 y 2013, usted vive en la casa de Nueva York por 7 meses y en la residencia de Florida durante 5 meses de cada año. Forms tax En la ausencia de hechos y circunstancias que indiquen lo contrario, la casa de Nueva York es su vivienda principal. Forms tax Usted califica para la exclusión de la ganancia de la venta de la casa de Nueva York, pero no por la casa en Florida en el 2013. Forms tax Ejemplo 2. Forms tax Usted es propietario de una casa, pero vive en otra casa que alquila. Forms tax La casa alquilada es su vivienda principal. Forms tax Ejemplo 3. Forms tax Usted es propietario de dos casas, una en Virginia y otra en New Hampshire. Forms tax En 2009 y 2010, usted vivió en la casa de Virginia. Forms tax En 2011 y 2012, vivió en la casa de New Hampshire. Forms tax En 2013, vivió otra vez en la casa de Virginia. Forms tax Su residencia principal en 2009, 2010 y 2013 es la residencia de Virginia. Forms tax En 2011 y 2012, su residencia principal es la residencia de New Hampshire. Forms tax Usted reúne los requisitos para la exclusión de la ganancia de la venta de cualesquiera de las casas (pero no ambas) en el 2013. Forms tax Propiedad usada parcialmente como su vivienda principal. Forms tax   Si usa solamente una parte de la propiedad como vivienda principal, las reglas que se abordan en este capítulo son aplicables sólo a las pérdidas o ganancias de la venta de esa parte de la propiedad. Forms tax Para obtener detalles, consulte Uso Comercial o Alquiler de Vivienda , más adelante. Forms tax Cómo Calcular las Pérdidas o Ganancias Para calcular las pérdidas o ganancias procedentes de la venta de su vivienda principal, tiene que saber cuál es el precio de venta, la cantidad recibida y la base ajustada. Forms tax Reste la base ajustada de la cantidad recibida para obtener el total de pérdidas o ganancias. Forms tax     Precio de venta     − Gastos de venta       Cantidad recibida       Cantidad recibida     − Base ajustada       Pérdidas o ganancias   Precio de Venta El precio de venta es la cantidad total que recibe por su vivienda. Forms tax Esto incluye dinero y el valor justo de mercado de cualquier otro bien o servicio que reciba y todos los pagarés, hipotecas u otras deudas que adquiere el comprador como parte de la venta. Forms tax Pago efectuado por su empleador. Forms tax   Es posible que tenga que vender su vivienda debido a un traslado de trabajo. Forms tax Si su empleador le paga las pérdidas originadas por la venta o gastos de venta, no incluya el pago como parte del precio de venta. Forms tax Su empleador incluirá el pago como salario en el recuadro 1 del Formulario W-2 y usted lo incluirá en los ingresos en la línea 7 del Formulario 1040. Forms tax Opción de compra. Forms tax   Si otorga una opción de compra para su vivienda y esa opción se ejecuta, sume al precio de venta de la vivienda la cantidad que reciba por la opción. Forms tax Si la opción no se ejecuta, tiene que declarar la cantidad como ingreso ordinario en el año en que venza la opción. Forms tax Declare esta cantidad en la línea 21 del Formulario 1040. Forms tax Formulario 1099-S. Forms tax   Si recibió el Formulario 1099-S, Proceeds From Real Estate Transactions (Utilidades de transacciones de bienes raíces), en inglés, el recuadro 2 Gross Proceeds (Utilidades brutas) debe mostrar la cantidad total que recibió por su vivienda. Forms tax   Sin embargo, el recuadro 2 no incluirá el valor justo de mercado de servicios o bienes que no sean dinero en efectivo o pagarés que haya recibido o recibirá. Forms tax En lugar de esto, el recuadro 4 estará marcado para indicar que ha recibido (o que se anticipa que va a recibir) estos bienes. Forms tax Cantidad Recibida La cantidad recibida corresponde al precio de venta menos los gastos de venta. Forms tax Gastos de venta. Forms tax   Los gastos de venta incluyen: Comisiones, Cargos por publicidad, Honorarios legales y Cargos de préstamo pagados por el vendedor, como tarifas por colocación de préstamos o “puntos”. Forms tax Base Ajustada Durante el período en el que haya sido propietario de su vivienda, es posible que haya realizado ajustes (aumentos o disminuciones) a la base. Forms tax Esta base ajustada se tiene que determinar antes de poder calcular las pérdidas o ganancias de la venta de su vivienda. Forms tax Para obtener información sobre cómo calcular la base ajustada de su vivienda, consulte Cómo Determinar la Base , más adelante. Forms tax Cantidad de Pérdidas o Ganancias Para calcular la cantidad de pérdidas o ganancias, compare la cantidad recibida con la base ajustada. Forms tax Ganancias de la venta. Forms tax   Si la cantidad recibida es mayor que la base ajustada, la diferencia es una ganancia y, a excepción de cualquier parte que pueda excluir, dicha ganancia suele ser tributable. Forms tax Pérdidas de la venta. Forms tax   Si la cantidad recibida es menor que la base ajustada, la diferencia es una pérdida. Forms tax Las pérdidas provenientes de la venta de su vivienda principal no se pueden deducir. Forms tax Vivienda de propiedad conjunta. Forms tax   Si usted y su cónyuge venden su vivienda de propiedad conjunta y presentan una declaración conjunta, debe calcular sus pérdidas o ganancias como si fueran un solo contribuyente. Forms tax Declaraciones por separado. Forms tax   Si usted y su cónyuge presentan declaraciones por separado, cada uno tiene que calcular sus propias pérdidas o ganancias conforme a su participación en la propiedad de la vivienda. Forms tax Generalmente, dicha participación está determinada por la ley estatal. Forms tax Copropietarios no casados. Forms tax   Si usted y un copropietario que no sea su cónyuge venden su vivienda de propiedad conjunta, cada uno tiene que calcular sus propias pérdidas o ganancias conforme a su participación en la propiedad de la vivienda. Forms tax Cada uno debe aplicar las reglas que se abordan en este capítulo de manera individual. Forms tax Enajenaciones que no Sean Ventas Hay ciertas reglas especiales para otras enajenaciones de su vivienda principal. Forms tax Ejecución hipotecaria o embargo de bienes. Forms tax   Si su vivienda estuvo sujeta a juicio hipotecario o embargo, ésto se considera enajenación de la vivienda principal. Forms tax Consulte la Publicación 4681, Canceled Debts, Foreclosures, Repossessions, and Abandonments (Deudas canceladas, ejecuciones hipotecarias, embargo y abandonos), en inglés, para calcular si tiene ingreso ordinario, pérdidas o ganancias. Forms tax Abandono. Forms tax   Si abandona su vivienda, vea la Publicación 4681, en inglés, para determinar si usted tiene ingresos ordinarios, ganancia o pérdida. Forms tax Intercambio de viviendas. Forms tax   Si intercambia su antigua vivienda por otra, trate el intercambio como una compraventa. Forms tax Ejemplo. Forms tax Usted habitaba y era propietario de una vivienda que tenía una base ajustada de $41,000. Forms tax Un agente de bienes raíces aceptó su antigua vivienda por un valor de $50,000 como pago parcial para la compra de una nueva vivienda con un valor de $80,000. Forms tax Esta transacción se trata como venta de su antigua vivienda por $50,000 con una ganancia de $9,000 ($50,000 – $41,000). Forms tax Si el agente de bienes raíces le hubiese concedido $27,000 y hubiese asumido su hipoteca por pagar de $23,000 sobre su antigua vivienda, el precio de venta aún sería $50,000 (los $27,000 concedidos para el intercambio más la hipoteca de $23,000 que asumió). Forms tax Traspaso a cónyuge. Forms tax   Si traspasa su vivienda a su cónyuge, o lo traspasa a su ex cónyuge por causa de divorcio, en la mayoría de los casos no hay pérdidas ni ganancias. Forms tax Esto es cierto aun si recibe dinero en efectivo u otra compensación por su vivienda. Forms tax Por lo tanto, no son aplicables las reglas de este capítulo. Forms tax Información adicional. Forms tax   Si necesita más información, consulte Transfer to spouse (Traspaso a cónyuge) en la Publicación 523, y Property Settlements (Liquidaciones de bienes) en la Publicación 504, Divorced or Separated Individuals (Personas divorciadas o separadas), ambas en inglés. Forms tax Conversión involuntaria. Forms tax   Si su vivienda es destruida o expropiada, y usted recibe dinero u otros bienes a cambio, como el pago de un seguro o indemnización por causa de expropiación forzosa, esto es una enajenación. Forms tax Esto se considera una venta y quizás pueda excluir la totalidad o parte de la ganancia proveniente de la destrucción o expropiación de su vivienda, según se explica más adelante, bajo Situaciones Especiales . Forms tax Cómo Determinar la Base Debe saber cuál es la base de su vivienda para poder calcular toda pérdida o ganancia al momento de la venta. Forms tax La base de su vivienda se determina dependiendo de cómo la obtuvo. Forms tax Generalmente, la base es el costo de la vivienda si la compró o construyó. Forms tax Si la obtuvo de alguna otra manera (herencia, regalo, etc. Forms tax ), la base, por lo general, es el valor justo de mercado cuando la recibió o la base ajustada del dueño anterior. Forms tax Mientras fue propietario de su vivienda, es posible que realizara ajustes (aumentos o disminuciones) a la base de su vivienda. Forms tax El resultado de estos ajustes es la base ajustada de la vivienda, la cual se usa para calcular las pérdidas o ganancias de la venta de la misma. Forms tax Consulte Base Ajustada , más adelante. Forms tax Puede obtener más información sobre la base y la base ajustada en el capítulo 13 de esta publicación y en la Publicación 523, en inglés. Forms tax Costo como Base El costo de la propiedad es la cantidad que pagó por ella en efectivo o a través de obligaciones de deuda, otros bienes o servicios. Forms tax Compra. Forms tax   Si compró una vivienda, la base es lo que a usted le cuesta. Forms tax Esto incluye el precio de compra y ciertos costos de cierre. Forms tax En la mayoría de los casos, el precio de compra incluye su pago inicial o enganche y toda deuda que haya entregado al vendedor en pago por la vivienda, como una primera o segunda hipoteca o pagarés. Forms tax Si construye una vivienda o contrata a terceros para construirla, su precio de compra puede incluir los costos de construcción, como se explica en la Publicación 523, en inglés. Forms tax Gastos de transacción o costos de cierre. Forms tax   Al momento de comprar su vivienda, es posible que haya tenido costos de cierre además del precio del contrato de la propiedad. Forms tax Puede incluir en la base algunos de los gastos de transacción y costos de cierre que pagó por la compra de la vivienda, pero no puede incluir en la base los cargos y costos por la obtención de un préstamo hipotecario. Forms tax Un cargo que se paga por la compra de la vivienda es todo cargo que hubiera tenido que pagar aún si hubiera pagado por ella en efectivo (es decir, sin tener que financiarla). Forms tax   El capítulo 13 indica algunos de los gastos de transacción y costos de cierre que puede incluir en la base de su propiedad, incluida su vivienda. Forms tax Asimismo, indica algunos de los costos de cierre que no se pueden incluir en la base. Forms tax   Además, consulte la Publicación 523, en inglés, para información adicional y una definición de la base distinta a la del costo. Forms tax Base Ajustada La base ajustada es su costo u otra base a la que se le restan o suman ciertas cantidades. Forms tax Para calcular su base ajustada, puede utilizar la Hoja de Trabajo 1 de la Publicación 523, en inglés. Forms tax No utilice la Hoja de Trabajo 1 si adquirió participación en su vivienda de un difunto que falleció en 2010 y cuyo albacea ha presentado el Formulario 8939, Allocation of Increase in Basis for Property Acquired From a Decedent (Distribución del aumento en la base de propiedad adquirida de un difunto), en inglés. Forms tax Aumentos a la base. Forms tax   Incluyen lo siguiente: Ampliación y otras mejoras que tengan una vida útil superior a 1 año. Forms tax Tasaciones especiales para mejoras locales. Forms tax Toda cantidad que usted haya gastado después de un hecho fortuito para restaurar la propiedad dañada. Forms tax Mejoras. Forms tax   Éstas agregan valor a su vivienda, prolongan su vida útil o la adaptan para nuevos usos. Forms tax Debe sumar a la base de la propiedad el costo de las ampliaciones y otras mejoras realizadas. Forms tax   Por ejemplo, instalar una sala de recreación u otro baño en su sótano sin mejoras, levantar una cerca nueva, instalar nueva plomería o cablería, colocar un nuevo techo o pavimentar la entrada al garaje son actividades que constituyen mejoras. Forms tax Una ampliación a su vivienda, como una nueva terraza, un solario o un garaje, también constituye una mejora. Forms tax Reparaciones. Forms tax   Éstas mantienen su vivienda en buenas condiciones, pero no le agregan valor ni prolongan su vida útil. Forms tax No sume el costo a la base de su propiedad. Forms tax   Pintar el interior y exterior de su casa, reparar canaletas o pisos, reparar goteras o yeso y reemplazar ventanas rotas son ejemplos de reparaciones. Forms tax Disminuciones a la base. Forms tax   Incluyen lo siguiente: Liquidaciones de la deuda calificada sobre la vivienda principal excluidas de ingreso. Forms tax La cancelación parcial o completa del ingreso por una deuda que se excluyó debido a su quiebra o insolvencia. Forms tax Para obtener más detalles, vea la Publicación 4681, en inglés. Forms tax Ganancias aplazadas provenientes de la venta de una vivienda anterior antes del 7 de mayo de 1997. Forms tax Pérdidas fortuitas deducibles. Forms tax Pagos de seguro que haya recibido o que espera recibir por pérdidas fortuitas. Forms tax Pagos que haya recibido por otorgar una servidumbre o un derecho de paso. Forms tax Depreciación permitida o permisible si usó su vivienda para fines comerciales o de alquiler. Forms tax Créditos relacionados con la eficiencia energética, permitidos por gastos incurridos en el hogar. Forms tax Reste del aumento a la base, que de otra manera se permitiría por gastos en la vivienda, por la cantidad del crédito permitido por dichos gastos. Forms tax Crédito tributario por adopción que haya declarado por mejoras agregadas a la base de su vivienda. Forms tax Pagos no tributables de un programa de asistencia para adopción de su empleador que haya utilizado para mejoras realizadas agregadas a la base de su vivienda. Forms tax Subsidio por ahorro de energía excluido de su ingreso bruto porque lo recibió (directa o indirectamente) de alguno de los servicios públicos después de 1992 para comprar o instalar un medio de ahorro de energía. Forms tax Un medio de ahorro de energía es una instalación o modificación principalmente diseñada para reducir el consumo de electricidad o gas natural, o para mejorar el uso de la demanda de energía de una vivienda. Forms tax Crédito tributario para el comprador de su primera vivienda en el Distrito de Columbia (permisible para la compra de una primera vivienda en el Distrito de Columbia a partir del 5 de agosto de 1997 y antes del 1 de enero del 2012). Forms tax Impuesto general de ventas (permitido a partir del 2004 y antes del 2014) reclamado como una deducción detallada en el Anexo A (Formulario 1040) que fue impuesto por la compra de bienes muebles, tales como una casa flotante usada como su hogar or casa móvil. Forms tax Liquidaciones de la deuda calificada sobre la vivienda principal. Forms tax   Quizás pueda excluir de los ingresos brutos una liquidación de la deuda calificada sobre una vivienda principal. Forms tax Esta exclusión corresponde a liquidaciones efectuadas después de 2006 y antes de 2014. Forms tax Si opta por excluir estos ingresos, tiene que restar de la base de la vivienda principal (pero no por debajo de cero) la cantidad excluida de los ingresos brutos. Forms tax   Presente el Formulario 982, en inglés, junto con la declaración de impuestos. Forms tax Vea las instrucciones del mismo para información detallada. Forms tax Documentación. Forms tax Debe mantener documentación para demostrar la base ajustada de su vivienda. Forms tax Normalmente, tiene que conservar dicha documentación durante 3 años después de la fecha de vencimiento para presentar la declaración del año tributario en el que vendió su vivienda. Forms tax Sin embargo, si vendió su vivienda antes del 7 de mayo de 1997 y aplazó el impuesto sobre las ganancias, la base de esa vivienda afecta la base de la nueva vivienda que compró. Forms tax Conserve la documentación que demuestre la base de ambas viviendas todo el tiempo que sea necesario para efectos de impuestos. Forms tax La documentación que debe conservar incluye: Comprobante del precio de compra y gastos de compra de la vivienda; Comprobantes y otra documentación de todas las mejoras, ampliaciones y otros elementos que afecten la base ajustada de la vivienda; Toda hoja de trabajo y otros cálculos que haya usado para calcular la base ajustada de la vivienda que vendió, las ganancias o pérdidas de la venta, la exclusión y las ganancias tributables; Todo Formulario 982, en inglés, que haya presentado para declarar una liquidación de la deuda calificada sobre la vivienda principal; Todo Formulario 2119, Sale of Your Home (Venta de su vivienda), en inglés, que haya presentado para aplazar la ganancia proveniente de la venta de una vivienda anterior antes del 7 de mayo de 1997 y Toda hoja de trabajo que haya usado para preparar el Formulario 2119, como la Adjusted Basis of Home Sold Worksheet (Hoja de trabajo de base ajustada de vivienda vendida) o Capital Improvements Worksheet (Hoja de trabajo de mejoras de capital) de las Instrucciones del Formulario 2119, en inglés, u otra fuente de cálculos. Forms tax Cómo Excluir las Ganancias Es posible que reúna los requisitos para excluir de su ingreso la totalidad o parte de las ganancias obtenidas de la venta de su vivienda principal. Forms tax Esto significa que, si reúne los requisitos, no tendrá que pagar impuestos sobre las ganancias hasta el límite descrito bajo Exclusión Máxima , presentado a continuación. Forms tax Para tener derecho a esta opción, tiene que satisfacer los requisitos de propietario y de uso que se describen más adelante. Forms tax Puede optar por no declarar la exclusión, incluyendo las ganancias obtenidas de la venta en los ingresos brutos en su declaración de impuestos para el año de la venta. Forms tax Puede utilizar la Hoja de Trabajo 2 de la Publicación 523 para calcular la cantidad de la exclusión y ganancia tributable, si la hubiera. Forms tax Si obtiene alguna ganancia tributable de la venta de su vivienda, podría verse obligado a aumentar la retención del impuesto o pagar impuestos estimados. Forms tax Vea la Publicación 505, Tax Withholding and Estimated Tax (Retención del impuesto e impuesto estimado), en inglés. Forms tax Exclusión Máxima Puede excluir hasta $250,000 de las ganancias (aparte de las ganancias asignadas a períodos de uso no calificadas) de la venta de su vivienda principal si se cumplen todas las siguientes condiciones: Usted reúne los requisitos de propietario. Forms tax Usted reúne los requisitos de uso. Forms tax Durante el período de 2 años inmediatamente anterior a la fecha de la venta no excluyó ganancias obtenidas de la venta de otra vivienda. Forms tax Para detalles sobre ganancias asignadas a períodos de uso no calificados, vea Períodos de uso no calificado, más adelante. Forms tax Tal vez pueda excluir hasta $500,000 de las ganancias (aparte de las ganancias asignadas a períodos de uso no calificadas) obtenidas de la venta de su vivienda principal si está casado, presenta una declaración conjunta y reúne los requisitos enumerados en el tema sobre las reglas especiales correspondientes a declaraciones conjuntas, bajo Personas Casadas , más adelante. Forms tax Requisitos de Propietario y de Uso Para reclamar una exclusión, tiene que satisfacer los requisitos de propietario y de uso. Forms tax Esto significa que durante el período de 5 años inmediatamente anterior a la fecha de la venta, usted tiene que haber: Sido propietario de la vivienda durante un mínimo de 2 años (requisito de propietario) y Vivido en la vivienda como su vivienda principal durante un mínimo de 2 años (requisito de uso). Forms tax Excepción. Forms tax   Si fue propietario y vivió en la propiedad como su vivienda principal por menos de 2 años, en algunos casos aún puede reclamar una exclusión. Forms tax Sin embargo, la cantidad máxima que podría excluir sería menor. Forms tax Consulte Exclusión Máxima Reducida , más adelante. Forms tax Ejemplo 1 —posesión y ocupación de la vivienda durante 2 años. Forms tax Amanda compró su vivienda principal y se mudó a ésta en septiembre del año 2011. Forms tax Vendió la vivienda con ganancias en octubre de 2013. Forms tax Durante el período de 5 años que finalizó en la fecha de la venta en octubre de 2013, ella fue propietaria de la vivienda y vivió en ella más de 2 años. Forms tax Por lo tanto, satisface los requisitos de propietario y de uso. Forms tax Ejemplo 2 —satisfacción del requisito de propiedad, pero no de uso. Forms tax Daniel compró una vivienda, vivió en ella durante 6 meses, se mudó y nunca volvió a vivir en la casa. Forms tax Luego la vendió con ganancias. Forms tax Fue propietario de la vivienda durante el período completo de 5 años inmediatamente anterior a la fecha de la venta. Forms tax Él satisface el requisito de propietario, pero no el de uso. Forms tax No puede excluir ninguna parte de sus ganancias procedentes de la venta, a menos que haya reunido los requisitos para una exclusión máxima reducida (como se explica más adelante). Forms tax Período de Propietario y de Uso Los 2 años de propietario y de uso requeridos durante el período de 5 años inmediatamente anterior a la fecha de la venta no tienen que ser continuos ni ocurrir simultáneamente. Forms tax Satisface los requisitos si puede demostrar que fue propietario y vivió en la propiedad como su vivienda principal durante 24 meses completos o 730 días (365 × 2) durante el período de 5 años inmediatamente anterior a la fecha de la venta. Forms tax Ausencia temporal. Forms tax   Las ausencias temporales breves por vacaciones u otras ausencias estacionales, aun si alquila la propiedad durante estas ausencias, se consideran períodos de uso. Forms tax En los siguientes ejemplos, se supone que la exclusión máxima reducida (explicada más adelante) no es aplicable a las ventas. Forms tax Ejemplo 1. Forms tax David Gallegos, soltero, compró una vivienda y se mudó a ella el 1 de febrero de 2011. Forms tax En 2011 y 2012, David se ausentó de su casa en el verano por dos meses mientras se tomaba unas vacaciones. Forms tax Vendió la casa el 1 de marzo del año 2013. Forms tax Aunque el período total en el que David usó su casa es menos de 2 años (21 meses), puede excluir toda ganancia hasta $250,000 ya que cumple con los requisitos. Forms tax Las vacaciones de 2 meses son ausencias cortas temporales y se cuentan como períodos de uso al determinar si David usó la casa los 2 años exigidos. Forms tax Ejemplo 2. Forms tax El profesor Pablo Barba, soltero, compró una casa y se mudó a ella el 18 de agosto de 2010. Forms tax Vivió en ella como su vivienda principal en forma continua hasta el 5 de enero de 2012, fecha en que viajó al extranjero para disfrutar de un año sabático. Forms tax El 6 de febrero de 2013, un mes después de regresar de la ausencia, vendió la casa con ganancias. Forms tax Dado que su ausencia no fue una ausencia temporal breve, no puede incluir el período de ausencia para satisfacer el requisito de uso de 2 años. Forms tax No puede excluir parte alguna de sus ganancias porque no usó ese domicilio por los 2 años exigidos. Forms tax Satisfacción de los requisitos de propietario y de uso durante períodos diferentes. Forms tax   Puede satisfacer los requisitos de propietario y de uso durante períodos diferentes de 2 años. Forms tax Sin embargo, tiene que satisfacer ambos requisitos durante el período de 5 años inmediatamente anterior a la fecha de la venta. Forms tax Ejemplo. Forms tax A partir del 2002, Elena Jara vivía en un apartamento alquilado. Forms tax Posteriormente, el edificio de apartamentos se transformó en condominios y compró su mismo apartamento el 3 de diciembre de 2010. Forms tax En el año 2011, Elena se enfermó y el 14 de abril de ese año se mudó a la casa de su hija. Forms tax El 12 de julio de 2013, mientras aún vivía en casa de su hija, Elena vendió su condominio. Forms tax Elena puede excluir las ganancias provenientes de la venta de su condominio porque satisfizo los requisitos de propietario y de uso durante el período de 5 años del 13 de julio de 2008 al 12 de julio de 2013, fecha en que vendió su condominio. Forms tax Ella fue propietaria del condominio desde el 3 de diciembre del año 2010 hasta el 12 de julio del año 2013 (más de 2 años). Forms tax Vivió en la propiedad desde el 13 de julio del año 2008 (inicio del período de 5 años) hasta el 14 de abril del año 2011 (más de 2 años). Forms tax El tiempo que Elena vivió en la casa de su hija durante el período de 5 años se puede contar para el período de propietario y el tiempo que vivió en su apartamento alquilado durante esos 5 años se puede contar para el período de uso. Forms tax Apartamento de cooperativa. Forms tax   Si, como inquilino-accionista, vendió acciones en una cooperativa de viviendas, los requisitos de propietario y de uso se satisfacen siempre y cuando durante el período de 5 años inmediatamente anterior a la fecha de la venta usted: Haya sido propietario de las acciones durante un mínimo de 2 años y Haya vivido en la casa o apartamento que sus acciones le dan derecho a ocupar como su vivienda principal durante un mínimo de 2 años. Forms tax Excepciones a los Requisitos de Propietario y de Uso Los siguientes temas abordan excepciones a los requisitos de propietario y de uso para ciertos contribuyentes. Forms tax Excepción para personas incapacitadas. Forms tax   Existe una excepción al requisito de uso si: Queda física o mentalmente incapacitado para cuidarse a sí mismo y Fue propietario y vivió en su casa como su vivienda principal por un total mínimo de un año durante el período de 5 años antes de la venta de su vivienda. Forms tax Conforme a esta excepción, se considera que vive en la vivienda durante todo momento en el período de 5 años en que haya sido propietario de ella y haya vivido en un establecimiento (incluido un hogar de ancianos) con licencia emitida por un estado o subdivisión política para cuidar personas en esa situación. Forms tax Si satisface esta excepción al requisito de uso, aún tiene que satisfacer el requisito de propietario de 2 de los 5 años para reclamar la exclusión. Forms tax Vivienda anterior destruida o expropiada. Forms tax   Para fines de los requisitos de propietario y de uso, debe sumar el tiempo que fue propietario y vivió en una vivienda anterior destruida o expropiada y el tiempo que fue propietario y vivió en la vivienda de reemplazo de cuya venta desea excluir las ganancias. Forms tax Esta regla es aplicable si alguna parte de la base de la vivienda que vendió dependía de la base de aquélla destruida o expropiada. Forms tax De lo contrario, tiene que haber sido propietario y vivido en la misma vivienda durante 2 de los 5 años anteriores a la venta, lo cual le permitirá reunir los requisitos para la exclusión. Forms tax Miembros de los servicios uniformados o del Servicio Diplomático, empleados de los servicios de inteligencia o empleados o voluntarios del Cuerpo de Paz. Forms tax   Puede optar por suspender el período del requisito de 5 años de propietario y uso durante todo período en el que usted o su cónyuge preste “servicio prolongado en forma oficial y calificada” como miembro de los servicios uniformados o del Servicio Diplomático de los Estados Unidos o como empleado de los servicios de inteligencia. Forms tax Puede optar por suspender el período del requisito de 5 años de propietario y uso durante el período que usted o su cónyuge preste “servicio prolongado en forma oficial y calificada” en el extranjero como empleado o voluntario inscrito o voluntario líder del Cuerpo de Paz. Forms tax Esto significa que podría satisfacer el requisito de uso de 2 años aún cuando, debido a su servicio, no haya vivido realmente en su casa por lo menos los 2 años requeridos de los 5 años que terminan en la fecha de la venta. Forms tax   Si esto le ayuda a reunir los requisitos para excluir ganancias, puede optar por suspender el período obligatorio de 5 años, presentando una declaración para el año de venta que no incluya las ganancias. Forms tax   Para más información sobre la suspensión del período de 5 años, vea Members of the uniformed services or Foreign Service, employees of the intelligence community, or employees or volunteers of the Peace Corps (Miembros de los servicios uniformados o del Servicio Diplomático, empleados de los servicios de inteligencia o empleados o voluntarios del Cuerpo de Paz), en la Publicación 523, en inglés. Forms tax Personas Casadas Si usted y su cónyuge presentan una declaración conjunta para el año de la venta y uno de ustedes satisface los requisitos de propiedad y de uso, pueden excluir hasta $250,000 de la ganancia procedente de dicha venta. Forms tax (Sin embargo, consulte Reglas especiales para declaraciones conjuntas , que aparece a continuación). Forms tax Reglas especiales para declaraciones conjuntas. Forms tax   Puede excluir hasta $500,000 de la totalidad de la ganancia sobre la venta de su vivienda principal si se cumple lo siguiente: Está casado y presenta una declaración conjunta para el año. Forms tax Usted o su cónyuge cumple el requisito de propietario. Forms tax Usted y su cónyuge cumplen el requisito de uso. Forms tax Durante el período de 2 años que termina en la fecha de la venta, ni usted ni su cónyuge excluyó ganancia alguna proveniente de la venta de otra vivienda. Forms tax Si uno de los dos cónyuges no satisface estos requisitos, la exclusión máxima que el matrimonio puede declarar es el total de las exclusiones máximas a las que tendría derecho cada cónyuge si no estuviese casado y las cantidades se calculasen por separado. Forms tax Para este fin, se considera que cada cónyuge era dueño de la propiedad durante el período en el que uno de los dos fue dueño de la misma. Forms tax Ejemplo 1 —uno de los cónyuges vende una vivienda. Forms tax Emilia vende su vivienda en junio de 2013 con una ganancia de $300,000. Forms tax Posteriormente en ese año, se casa con Jaime. Forms tax Ella satisface los requisitos de propiedad y de uso, pero Jaime no. Forms tax Emilia puede excluir hasta $250,000 de las ganancias en una declaración por separado o conjunta para el año 2013. Forms tax La exclusión máxima de $500,000 para ciertas declaraciones conjuntas no es aplicable en este caso, ya que Jaime no cumple el requisito de uso. Forms tax Ejemplo 2 —cada cónyuge vende una vivienda. Forms tax El caso es igual al del Ejemplo 1 , excepto que Jaime también vende una vivienda en el año 2013 con una ganancia de $200,000 antes de casarse con Emilia. Forms tax Él satisface los requisitos de propietario y de uso en su vivienda pero Emilia no. Forms tax Emilia puede excluir $250,000 de las ganancias y Jaime puede excluir $200,000 de las ganancias de la venta de sus propias viviendas. Forms tax Sin embargo, Emilia no puede utilizar la exclusión no usada de Jaime para excluir más de $250,000 de las ganancias. Forms tax Por lo tanto, Emilia y Jaime tienen que reconocer $50,000 de las ganancias de la venta de la vivienda de Emilia. Forms tax La exclusión máxima de $500,000 para ciertas declaraciones conjuntas no es aplicable en este caso, ya que Emilia y Jaime ambos no cumplen el requisito de uso para el mismo hogar. Forms tax Venta de la vivienda principal por el cónyuge sobreviviente. Forms tax   Si su cónyuge murió y usted no se volvió a casar antes de la fecha de la venta, se considera que ha sido propietario y ha vivido en la propiedad como su vivienda principal durante todo el período en que su cónyuge fue propietario y vivió en ella como vivienda principal. Forms tax   Si reúne todos los siguientes requisitos, puede tener el derecho de excluir hasta $500,000 procedentes de toda ganancia de la venta o del intercambio de su vivienda principal: La venta o el intercambio se realizó después de 2008. Forms tax La venta o el intercambio se realizó dentro de los 2 años después de la fecha del fa- llecimiento de su cónyuge. Forms tax No se ha vuelto a casar. Forms tax Usted y su cónyuge reunían el requisito de uso en la fecha del fallecimiento de su cónyuge. Forms tax Usted o su cónyuge reunían el requisito de propietario en la fecha del fallecimiento de su cónyuge. Forms tax Ni usted ni su cónyuge excluyó ganancia alguna procedente de la venta de otra vivienda durante los últimos 2 años. Forms tax Ejemplo. Forms tax   Geraldo es dueño de una casa y habita en la misma como su vivienda principal desde 2009. Forms tax Geraldo y Wilma se casaron el 1 de julio de 2013, y desde esa fecha habitan en la casa de Geraldo considerándola su vivienda principal. Forms tax Geraldo falleció el 15 de agosto de 2013 y Wilma heredó la propiedad. Forms tax Wilma vendió la propiedad el 3 de septiembre de 2013, fecha en la cual no se había vuelto a casar. Forms tax Aunque Wilma fue dueña de la casa y habitó en la misma menos de 2 años, se considera que ha cumplido los requisitos de propiedad y de uso porque el período correspondiente a su propiedad y uso de la casa abarca el período en el que Geraldo fue dueño de la misma y habitó en ella antes de fallecer. Forms tax Vivienda traspasada por cónyuge. Forms tax   Si su cónyuge le traspasó su vivienda (o ex cónyuge si el traspaso se relaciona con su divorcio), se considera que ha sido propietario durante todo el período en que su cónyuge fue propietario. Forms tax Uso de vivienda después del divorcio. Forms tax   Se considera que ha usado la propiedad como su vivienda principal durante todo el período en que: Usted fue su propietario y Se permita que el cónyuge o ex cónyuge viva en ella conforme a un instrumento de divorcio o separación y éste la usa como vivienda principal. Forms tax Exclusión Máxima Reducida Si no reúne los requisitos para reclamar la exclusión de $250,000 o $500,000, aún puede tener derecho a una exclusión reducida. Forms tax Esto corresponde a aquellas personas que: No satisfagan los requisitos de propietario y de uso o Hayan reclamado la exclusión dentro de 2 años de vender su vivienda actual. Forms tax En los dos casos, para tener derecho a una exclusión reducida, la venta de su vivienda principal tiene que deberse a uno de los siguientes motivos: Un cambio del lugar de empleo. Forms tax Salud. Forms tax Circunstancias imprevistas. Forms tax Circunstancias imprevistas. Forms tax   Se considera que la venta de su vivienda principal es por una circunstancia imprevista si el motivo principal de venta es un hecho que usted no hubiera podido anticipar razonablemente antes de comprar y ocupar su vivienda principal. Forms tax   Vea la Publicación 523, en inglés, para más información y para utilizar la Worksheet 3 (Hoja de trabajo 3) para calcular la exclusión máxima reducida. Forms tax Uso Comercial o Alquiler de Vivienda Tal vez pueda excluir sus ganancias provenientes de la venta de una vivienda que haya utilizado para fines comerciales o para producir ingresos de alquiler. Forms tax Sin embargo, tiene que satisfacer los requisitos de propietario y de uso. Forms tax Períodos de uso no calificado. Forms tax   En la mayoría de los casos, la ganancia de la venta o intercambio de su vivienda principal no calificará para su exclusión en la medida en que las ganancias se asignan a los períodos de uso no calificado. Forms tax Se considera que el uso no calificado es todo período a partir del 2008 en que ni usted ni su cónyuge (o su ex cónyuge) usó la propiedad como vivienda principal con las siguientes excepciones. Forms tax Excepciones. Forms tax   Un período de uso no calificado no incluye: Cualquier parte del período de 5 años que termine en la fecha de la venta o intercambio después de la última fecha que usted o su cónyuge usó la vivienda como vivienda principal. Forms tax Cualquier período (que no exceda de un período de 10 años en su totalidad) durante el cual usted (o su cónyuge) están prestando servicio prolongado en forma oficial y calificada: Como miembro de los servicios uniformados, Como miembro del Servicio Diplomático de los Estados Unidos o Como empleado de los servicios de inteligencia, y Cualquier otro período de ausencia temporal (que no exceda de un período de 2 años en su totalidad) debido a un cambio de empleo, condición de salud o tales circunstancias imprevistas que hayan sido especificados por el IRS. Forms tax La ganancia resultante de la venta de la propiedad se divide entre períodos de uso calificado y no calificado a base de la cantidad de tiempo que la propiedad sirvió para uso calificado y no calificado. Forms tax La ganancia derivada de la venta o intercambio de una vivienda principal asignada a períodos de uso calificado todavía calificará para la exclusión de la venta de su vivienda principal. Forms tax La ganancia derivada de la venta o intercambio de una vivienda principal asignada a períodos de uso no calificado no reunirá los requisitos para la exclusión. Forms tax Cálculos. Forms tax   Para calcular la parte de la ganancia que se le asignará al período de uso no calificado, multiplique la ganancia por la siguiente fracción:   Total de uso no calificado durante el período de propietario a partir del 2008      Total del período de propietario   Este cálculo se puede encontrar en la Hoja de Trabajo 2, línea 10, en la Publicación 523, en inglés. Forms tax Ejemplo 1. Forms tax El 23 de mayo de 2007, Amelia (soltera en cada año de este ejemplo) compró una casa. Forms tax Se mudó a la casa en esa fecha y vivió ahí hasta el 31 de mayo de 2009, fecha en la que se mudó de la casa y la puso en alquiler. Forms tax La casa estuvo alquilada desde el 1 de junio de 2009 al 31 de marzo de 2011. Forms tax Amelia reclamó deducciónes por depreciación del 2009 al 2011 por un total de $10,000. Forms tax Amelia se mudó a su casa nuevamente el 1 de abril de 2011 y vivió en ella hasta que la vendió el 31 de enero de 2013 por una ganancia de $200,000. Forms tax Durante el período de 5 años que termina en la fecha de la venta (31 de enero de 2008 – 31 de enero de 2013), Amelia fue la propietaria y vivió en la casa durante más de 2 años, como se indica en la siguiente tabla. Forms tax Período de  5 años Usada como Vivienda Principal Usada como Vivienda de Alquiler 31/01/08 – 31/05/09 16 meses       01/06/09 – 31/03/11   22 meses 01/04/11 – 31/01/13 22 meses         38 meses 22 meses Durante el período que Amelia fue propietaria de la casa (2,080 días), el período de uso no calificado fue de 668 días. Forms tax Amelia divide 668 entre 2,080 y obtiene un decimal (redondeado al menos tres decimales) de 0. Forms tax 321. Forms tax Para calcular la ganancia atribuible al período de uso no calificado, se multiplica $190,000 (la ganancia no es atribuible a la deducción por depreciación $10,000) por 0. Forms tax 321. Forms tax Debido a que la ganancia atribuible a los períodos no calificados es $60,990, Amelia puede excluir $129,010 de su ganancia. Forms tax Ejemplo 2. Forms tax Guillermo fue propietario de una casa y la usó como su vivienda principal de 2007 a 2010. Forms tax El 1 de enero de 2011, se mudó a otro estado. Forms tax Alquiló su casa desde esa fecha hasta el 30 de abril de 2013, fecha en que la vendió. Forms tax Durante el período de 5 años que termina en la fecha de la venta (1 de mayo de 2008 – 30 de abril de 2013), Guillermo fue el propietario de esa casa y vivió en ella durante más de 2 años. Forms tax Tiene que declarar la venta en el Formulario 4797, en inglés, debido a que la casa era una propiedad de alquiler en la fecha de venta. Forms tax Ya que el período de uso no calificado no incluye cualquier parte del período de 5 años después de la última fecha que Guillermo vivió en su vivienda, él no tiene un período de uso no calificado. Forms tax Puesto que cumplió los requisitos de propietario y de uso, puede excluir ganancias de hasta $250,000. Forms tax No obstante, no puede excluir la parte de las ganancias equivalente a la depreciación que reclamó o que pudo haber reclamado por alquilar la casa, como se explica a continuación. Forms tax Depreciación después del 6 de mayo de 1997. Forms tax   Si tenía derecho a declarar deducciones por depreciación porque usó su vivienda para fines comerciales o como propiedad de alquiler, no puede excluir aquella parte de sus ganancias que sea equivalente a cualquier depreciación permitida o permisible como deducción para los períodos después del 6 de mayo de 1997. Forms tax Si puede demostrar mediante documentación adecuada u otras pruebas que la depreciación permitida era menor que la cantidad permisible, puede limitar la cantidad de ganancias obtenidas de modo que dicha cantidad sea igual a la cantidad de depreciación. Forms tax Vea la Publicación 544, en inglés, para información adicional. Forms tax Propiedad usada parcialmente para fines comerciales o de alquiler. Forms tax   Si usó la propiedad en parte como vivienda principal y en parte para fines comerciales o para producir ingresos de alquiler, consulte la Publicación 523, en inglés. Forms tax Cómo Declarar la Venta No declare la venta de su vivienda principal del año 2013 en su declaración de impuestos, a menos que: Tenga ganancias y no reúna los requisitos para excluir la totalidad de éstas Tenga ganancias y opte por no excluirlas o Haya recibido un Formulario 1099-S. Forms tax Si algunas de estas situaciones aplican, informe la ganancia total o pérdidas. Forms tax Para detalles de cómo informar las pérdidas o ganancias, vea las Instrucciones para el Anexo D del Formulario 1040 y las Instrucciones del Formulario 8949, en inglés. Forms tax Si usted usó la vivienda para propósitos de negocios o para sacar ingresos por el alquiler, usted posiblemente tenga que usar el Formulario 4797 para informar la venta de la parte de la propiedad usada para negocios o alquiler (o la venta de la propiedad entera, si se usó exclusivamente para negocios o alquiler). Forms tax Consulte la sección Business Use or Rental of Home (Uso de vivienda como negocio o para alquiler), en inglés, en la Publicación 523, y las Instrucciones del Formulario 4797. Forms tax Ventas a plazos. Forms tax    Algunas ventas se realizan según acuerdos que estipulan que parte o la totalidad del precio de venta se debe pagar en un año posterior. Forms tax Estas ventas se denominan “ventas a plazos”. Forms tax Si financia la compra del comprador de su casa, en lugar de que éste solicite un préstamo o hipoteca a un banco, probablemente tenga una venta a plazos. Forms tax Tal vez pueda declarar la parte de las ganancias que no puede excluir sobre la base a plazos. Forms tax    Use el Formulario 6252, Installment Sale Income (Ingresos de venta a plazos), en inglés, para declarar la venta. Forms tax Anote la exclusión en la línea 15 del Formulario 6252. Forms tax Hipoteca financiada por el vendedor. Forms tax   Si vende su vivienda y tiene un pagaré, hipoteca u otro acuerdo financiero, en la mayoría de los casos los pagos que reciba constan de intereses y capital. Forms tax Tiene que declarar por separado como ingreso de intereses los intereses que reciba como parte de cada pago. Forms tax Si el comprador de su vivienda usa la propiedad como vivienda principal o segunda vivienda, también tiene que declarar el nombre, la dirección y el número de Seguro Social (SSN, por sus siglas en inglés) del comprador en la línea 1 del Anexo B (Formulario 1040A o 1040). Forms tax El comprador tiene que darle su SSN y usted tiene que darle el suyo al comprador. Forms tax Si no satisface estos requisitos, es posible que tenga que pagar una multa de $50 por cada incumplimiento. Forms tax Si usted o el comprador no tiene un SSN y no reúne los requisitos para obtener uno, vea Número de Seguro Social , en el capítulo 1. Forms tax Información adicional. Forms tax   Para obtener más información acerca de las ventas a plazos, consulte la Publicación 537, Installment Sales (Ventas a plazos), en inglés. Forms tax Situaciones Especiales Las siguientes situaciones especiales pueden afectar su exclusión. Forms tax Venta de vivienda adquirida a través de un intercambio de bienes del mismo tipo. Forms tax   No puede reclamar la exclusión si: Adquirió su vivienda a través de un intercambio de bienes del mismo tipo (también conocido como intercambio conforme a la sección 1031) o la base de su vivienda se determina según la base de la vivienda de la persona que la adquirió mediante un intercambio de bienes del mismo tipo (por ejemplo, recibió la vivienda de dicha persona como un regalo) y Vendió la vivienda durante el período de 5 años a partir de la fecha en que se adquirió por medio del intercambio de bienes del mismo tipo. Forms tax Las ganancias provenientes de un intercambio de bienes del mismo tipo no están sujetas al impuesto en la fecha de dicho intercambio. Forms tax Esto quiere decir que las ganancias no se tributarán hasta que venda o enajene de otra manera la propiedad que haya recibido. Forms tax Para diferir ganancias provenientes de un intercambio de bienes del mismo tipo, tiene que haber intercambiado bienes comerciales o de inversión por bienes comerciales o de inversión del mismo tipo. Forms tax Para más información sobre los intercambios de bienes del mismo tipo, vea la Publicación 544, Sales and Other Dispositions of Assets (Ventas y otras enajenaciones de bienes), en inglés. Forms tax Vivienda cedida a través de intercambio de bienes del mismo tipo. Forms tax   Si usa su vivienda principal en parte para propósitos comerciales o de alquiler y luego intercambia la misma por otra propiedad, vea la Publicación 523, en inglés. Forms tax Expatriados. Forms tax   No puede reclamar la exclusión si el impuesto de expatriación es aplicable en su caso. Forms tax El impuesto de expatriación corresponde a determinados ciudadanos estadounidenses que han renunciado a su ciudadanía (y a determinados residentes de largo plazo que han terminado su residencia). Forms tax Consulte la sección titulada Expatriation Tax (Impuesto de expatriación) en el capítulo 4 de la Publicación 519, U. Forms tax S. Forms tax Tax Guide for Aliens (Guía tributaria de los Estados Unidos para extranjeros), en inglés, para obtener más información acerca del impuesto de expatriación. Forms tax Vivienda destruida o expropiada. Forms tax   Si su vivienda fue destruida o expropiada, toda ganancia (por ejemplo, debido a pagos del seguro que recibió) procedente de aquel acontecimiento reúne los requisitos para la exclusión. Forms tax   Toda parte de las ganancias que no se pueda excluir (por superar el límite de exclusión máxima), se puede aplazar según las reglas que se explican en las siguientes publicaciones: Publicación 547(SP) en el caso de una vivienda que fue destruida o Capítulo 1 de la Publicación 544, en inglés, en el caso de una vivienda que fue expropiada. Forms tax Venta de participación restante. Forms tax   Sujeto a otras reglas del presente capítulo, puede optar por excluir ganancias procedentes de la venta de una participación restante en su vivienda. Forms tax Si elige esta opción, no puede excluir ganancias de la venta de ninguna otra participación en la vivienda que venda por separado. Forms tax Excepción para ventas a personas emparentadas o vinculadas. Forms tax   No puede excluir ganancias procedentes de la venta de una participación restante en su vivienda a una persona emparentada o vinculada. Forms tax Las personas emparentadas incluyen a sus hermanos y hermanas, medios hermanos y medias hermanas, cónyuges, antecesores (padres, abuelos, etc. Forms tax ) y descendientes directos (hijos, nietos, etc. Forms tax ). Forms tax Las personas vinculadas también incluyen a ciertas sociedades anónimas, sociedades colectivas, fideicomisos y organizaciones exentas de impuestos. Forms tax Recuperación (Devolución) de un Subsidio Hipotecario Federal Si financió su vivienda a través de un programa de subsidio federal (préstamos de bonos hipotecarios calificados exentos de impuestos o préstamos con certificados de crédito hipotecario), es posible que tenga que devolver la totalidad o parte del beneficio que recibió de ese programa cuando venda o enajene su vivienda. Forms tax Puede recuperar el beneficio al aumentar su impuesto federal sobre el ingreso para el año de la venta. Forms tax Es posible que tenga que pagar este impuesto de recuperación aun si puede excluir sus ganancias del ingreso según las reglas explicadas anteriormente; esa exclusión no afecta el impuesto de recuperación. Forms tax Préstamos sujetos a reglas de recuperación. Forms tax   La recuperación es aplicable a préstamos que: Se originaron de las utilidades de bonos hipotecarios calificados o Se basaron en certificados de crédito hipotecario. Forms tax La recuperación también se aplica a las asunciones de estos préstamos. Forms tax Cuándo es aplicable la recuperación. Forms tax   La recuperación del subsidio hipotecario federal es aplicable solamente si satisface las dos condiciones siguientes: Dentro de los primeros 9 años después de la fecha de cierre de su préstamo hipotecario, vende o enajena su vivienda, gene- rando ganancias. Forms tax Su ingreso para el año de la enajenación es mayor que el ingreso calificado ajustado de ese año para el tamaño de su familia (en relación a los requisitos de ingresos que tiene que satisfacer una persona para tener derecho a participar en el programa de subsidio federal). Forms tax Cuándo no es aplicable la recuperación. Forms tax   La recuperación no es aplicable si le corresponde una de las siguientes situaciones: Su préstamo hipotecario fue un préstamo calificado para mejoras de vivienda (QHIL, por sus siglas en inglés) de no más de $15,000 y se usó para hacer modificaciones, reparaciones y mejoras que protejan o mejoren la habitabilidad y la eficiencia energética de su vivienda. Forms tax Su préstamo hipotecario fue un préstamo calificado para mejoras de vivienda de no más de $150,000 para un QHIL que se utiliza con el fin de reparar daños ocasionados a viviendas por el huracán Katrina en la zona de desastre del huracán; para un QHIL financiado por un bono hipotecario calificado, el cual es un Bono de la Zona de Oportunidad del Golfo; o para un QHIL para una vivienda habitada por su dueño en la Zona de Oportunidad del Golfo (Zona GO), Zona GO de Rita o Zona GO de Wilma. Forms tax Vea la Publicación 4492(SP), Información para los Contribuyentes Afectados por los Huracanes Katrina, Rita y Wilma, para información adicional. Forms tax Asimismo, vea la Publicación 4492-B, Information for Affected Taxpayers in the Midwestern Disaster Areas (Información para contribuyentes afectados de la zona de desastre del Medio Oeste), en inglés, para más información. Forms tax La vivienda se enajena como consecuencia de su muerte. Forms tax Enajena su vivienda más de 9 años después de la fecha de cierre de su préstamo hipotecario. Forms tax Traspasa la vivienda a su cónyuge o a su ex cónyuge por motivos de divorcio, situación en la que no hay ganancias incluidas en sus ingresos. Forms tax Enajena la vivienda con pérdidas. Forms tax Su vivienda resulta destruida por un hecho fortuito y usted la repone en su lugar original dentro de 2 años después del cierre del año tributario en que se produjo la destrucción. Forms tax El período de reemplazo se aumenta para viviendas principales destruidas si su vivienda estaba ubicada en la zona de desastre de Kansas, una de las zonas de desastre del Medio Oeste, la zona del Huracán Katrina u otra zona de desastre declarada como tal por el gobierno federal. Forms tax Para más información, vea Plazo de Reposición, en la Publicación 547(SP). Forms tax Refinancia su préstamo hipotecario (a menos que posteriormente satisfaga todas las condiciones anteriores indicadas bajo Cuándo es aplicable la recuperación ). Forms tax Aviso de cantidades. Forms tax   En la fecha de liquidación de su préstamo hipotecario, o en una fecha cercana, deberá recibir un aviso que esta- blezca la cantidad de subsidio federal y cualquier otra información que necesite para calcular su impuesto de recuperación. Forms tax Cómo calcular y declarar la recuperación. Forms tax    El impuesto de recuperación se calcula en el Formulario 8828, en inglés. Forms tax Si vende su vivienda y su hipoteca está sujeta a las reglas de recuperación, tiene que presentar el Formulario 8828 aún si no adeuda un impuesto de recuperación. Forms tax Adjunte el Formulario 8828 al Formulario 1040. Forms tax Para obtener más información, vea el Formulario 8828 y las instrucciones correspondientes, en inglés. Forms tax Prev  Up  Next   Home   More Online Publications