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Free File State Taxes

Free file state taxes 3. Free file state taxes   Farm Income Table of Contents Introduction Topics - This chapter discusses: Useful Items - You may want to see: Schedule F (Form 1040) Sales of Farm ProductsSchedule F. Free file state taxes Form 4797. Free file state taxes Sales Caused by Weather-Related Conditions Rents (Including Crop Shares)Crop Shares Agricultural Program PaymentsCommodity Credit Corporation (CCC) Loans Conservation Reserve Program (CRP) Crop Insurance and Crop Disaster Payments Feed Assistance and Payments Cost-Sharing Exclusion (Improvements) Payments Under the Farm Security and Rural Investment Act of 2002 and Under the Food, Conservation, and Energy Act of 2008 Tobacco Quota Buyout Program Payments Other Payments Payment to More Than One Person Income From CooperativesPatronage Dividends Per-Unit Retain Certificates Cancellation of DebtGeneral Rule Exceptions Exclusions Income From Other SourcesSod. Free file state taxes Granting the right to remove deposits. Free file state taxes Income Averaging for FarmersElected Farm Income (EFI) How To Figure the Tax Effect on Other Tax Determinations Tax for Certain Children Who Have Unearned Income Alternative Minimum Tax (AMT) Schedule J Introduction You may receive income from many sources. Free file state taxes You must report the income from all the different sources on your tax return, unless it is excluded by law. Free file state taxes Where you report the income on your tax return depends on its source. Free file state taxes This chapter discusses farm income you report on Schedule F (Form 1040), Profit or Loss From Farming. Free file state taxes For information on where to report other income, see the Instructions for Form 1040, U. Free file state taxes S. Free file state taxes Individual Income Tax Return. Free file state taxes Accounting method. Free file state taxes   The rules discussed in this chapter assume you use the cash method of accounting. Free file state taxes Under the cash method, you generally include an item of income in gross income in the year you receive it. Free file state taxes See Cash Method in chapter 2. Free file state taxes   If you use an accrual method of accounting, different rules may apply to your situation. Free file state taxes See Accrual Method in chapter 2. Free file state taxes Topics - This chapter discusses: Schedule F Sales of farm products Rents (including crop shares) Agricultural program payments Income from cooperatives Cancellation of debt Income from other sources Income averaging for farmers Useful Items - You may want to see: Publication 525 Taxable and Nontaxable Income 550 Investment Income and Expenses 908 Bankruptcy Tax Guide 925 Passive Activity and At-Risk Rules 4681 Canceled Debts, Foreclosures, Repossessions, and Abandonments Form (and Instructions) 982 Reduction of Tax Attributes Due to Discharge of Indebtedness Sch E (Form 1040) Supplemental Income and Loss Sch J (Form 1040) Income Averaging for Farmers and Fishermen 1099-G Certain Government Payments 1099-PATR Taxable Distributions Received From Cooperatives 4797 Sales of Business Property 4835 Farm Rental Income and Expenses See chapter 16 for information about getting publications and forms. Free file state taxes Schedule F (Form 1040) Individuals, trusts, and partnerships report farm income on Schedule F (Form 1040), Profit or Loss From Farming. Free file state taxes Use this schedule to figure the net profit or loss from regular farming operations. Free file state taxes Income from farming reported on Schedule F includes amounts you receive from cultivating, operating, or managing a farm for gain or profit, either as owner or tenant. Free file state taxes This includes income from operating a stock, dairy, poultry, fish, fruit, or truck farm and income from operating a plantation, ranch, range, or orchard. Free file state taxes It also includes income from the sale of crop shares if you materially participate in producing the crop. Free file state taxes See Rents (Including Crop Shares) , later. Free file state taxes Income received from operating a nursery, which specializes in growing ornamental plants, is considered to be income from farming. Free file state taxes Income reported on Schedule F does not include gains or losses from sales or other dispositions of the following farm assets. Free file state taxes Land. Free file state taxes Depreciable farm equipment. Free file state taxes Buildings and structures. Free file state taxes Livestock held for draft, breeding, sport, or dairy purposes. Free file state taxes Gains and losses from most dispositions of farm assets are discussed in chapters 8 and 9. Free file state taxes Gains and losses from casualties, thefts, and condemnations are discussed in chapter 11. Free file state taxes Sales of Farm Products Where to report. Free file state taxes    Table 3-1 shows where to report the sale of farm products on your tax return. Free file state taxes Schedule F. Free file state taxes   Amounts received from the sales of products you raised on your farm for sale (or bought for resale), such as livestock, produce, or grains, are reported on Schedule F. Free file state taxes This includes money and the fair market value of any property or services you receive. Free file state taxes When you sell farm products bought for resale, your profit or loss is the difference between your selling price (money plus the fair market value of any property) and your basis in the item (usually the cost). Free file state taxes See chapter 6 for information on the basis of assets. Free file state taxes You generally report these amounts on Schedule F for the year you receive payment. Free file state taxes Example. Free file state taxes In 2012, you bought 20 feeder calves for $11,000 for resale. Free file state taxes You sold them in 2013 for $21,000. Free file state taxes You report the $21,000 sales price on Schedule F, line 1b, subtract your $11,000 basis on line 1d, and report the resulting $10,000 profit on line 1e. Free file state taxes Form 4797. Free file state taxes   Sales of livestock held for draft, breeding, sport, or dairy purposes may result in ordinary or capital gains or losses, depending on the circumstances. Free file state taxes In either case, you should always report these sales on Form 4797 instead of Schedule F. Free file state taxes See Livestock under Ordinary or Capital Gain or Loss in chapter 8. Free file state taxes Animals you do not hold primarily for sale are considered business assets of your farm. Free file state taxes Table 3-1. Free file state taxes Where To Report Sales of Farm Products Item Sold Schedule F Form 4797 Farm products raised for sale X   Farm products bought for resale X   Farm assets not held primarily for sale, such as livestock held for draft, breeding, sport, or dairy purposes (bought or raised)   X Sale by agent. Free file state taxes   If your agent sells your farm products, you have constructive receipt of the income when your agent receives payment and you must include the net proceeds from the sale in gross income for the year the agent receives payment. Free file state taxes This applies even if your agent pays you in a later year. Free file state taxes For a discussion on constructive receipt of income, see Cash Method under Accounting Methods in chapter 2. Free file state taxes Sales Caused by Weather-Related Conditions If you sell or exchange more livestock, including poultry, than you normally would in a year because of a drought, flood, or other weather-related condition, you may be able to postpone reporting the gain from the additional animals until the next year. Free file state taxes You must meet all the following conditions to qualify. Free file state taxes Your principal trade or business is farming. Free file state taxes You use the cash method of accounting. Free file state taxes You can show that, under your usual business practices, you would not have sold or exchanged the additional animals this year except for the weather-related condition. Free file state taxes The weather-related condition caused an area to be designated as eligible for assistance by the federal government. Free file state taxes Sales or exchanges made before an area became eligible for federal assistance qualify if the weather-related condition that caused the sale or exchange also caused the area to be designated as eligible for federal assistance. Free file state taxes The designation can be made by the President, the Department of Agriculture (or any of its agencies), or by other federal departments or agencies. Free file state taxes A weather-related sale or exchange of livestock (other than poultry) held for draft, breeding, or dairy purposes may be an involuntary conversion. Free file state taxes See Other Involuntary Conversions in chapter 11. Free file state taxes Usual business practice. Free file state taxes   You must determine the number of animals you would have sold had you followed your usual business practice in the absence of the weather-related condition. Free file state taxes Do this by considering all the facts and circumstances, but do not take into account your sales in any earlier year for which you postponed the gain. Free file state taxes If you have not yet established a usual business practice, rely on the usual business practices of similarly situated farmers in your general region. Free file state taxes Connection with affected area. Free file state taxes   The livestock does not have to be raised or sold in an area affected by a weather-related condition for the postponement to apply. Free file state taxes However, the sale must occur solely because of a weather-related condition that affected the water, grazing, or other requirements of the livestock. Free file state taxes This requirement generally will not be met if the costs of feed, water, or other requirements of the livestock affected by the weather-related condition are not substantial in relation to the total costs of holding the livestock. Free file state taxes Classes of livestock. Free file state taxes   You must figure the amount to be postponed separately for each generic class of animals—for example, hogs, sheep, and cattle. Free file state taxes Do not separate animals into classes based on age, sex, or breed. Free file state taxes Amount to be postponed. Free file state taxes   Follow these steps to figure the amount of gain to be postponed for each class of animals. Free file state taxes Divide the total income realized from the sale of all livestock in the class during the tax year by the total number of such livestock sold. Free file state taxes For this purpose, do not treat any postponed gain from the previous year as income received from the sale of livestock. Free file state taxes Multiply the result in (1) by the excess number of such livestock sold solely because of weather-related conditions. Free file state taxes Example. Free file state taxes You are a calendar year taxpayer and you normally sell 100 head of beef cattle a year. Free file state taxes As a result of drought, you sold 135 head during 2012. Free file state taxes You realized $70,200 from the sale. Free file state taxes On August 9, 2012, as a result of drought, the affected area was declared a disaster area eligible for federal assistance. Free file state taxes The income you can postpone until 2013 is $18,200 [($70,200 ÷ 135) × 35]. Free file state taxes How to postpone gain. Free file state taxes   To postpone gain, attach a statement to your tax return for the year of the sale. Free file state taxes The statement must include your name and address and give the following information for each class of livestock for which you are postponing gain. Free file state taxes A statement that you are postponing gain under Internal Revenue Code (IRC) section 451(e). Free file state taxes Evidence of the weather-related conditions that forced the early sale or exchange of the livestock and the date, if known, on which an area was designated as eligible for assistance by the federal government because of weather-related conditions. Free file state taxes A statement explaining the relationship of the area affected by the weather-related condition to your early sale or exchange of the livestock. Free file state taxes The number of animals sold in each of the 3 preceding years. Free file state taxes The number of animals you would have sold in the tax year had you followed your normal business practice in the absence of weather-related conditions. Free file state taxes The total number of animals sold and the number sold because of weather-related conditions during the tax year. Free file state taxes A computation, as described above, of the income to be postponed for each class of livestock. Free file state taxes   Generally, you must file the statement and the return by the due date of the return, including extensions. Free file state taxes However, for sales or exchanges treated as an involuntary conversion from weather-related sales of livestock in an area eligible for federal assistance (discussed in chapter 11), you can file this statement at any time during the replacement period. Free file state taxes For other sales or exchanges, if you timely filed your return for the year without postponing gain, you can still postpone gain by filing an amended return within 6 months of the due date of the return (excluding extensions). Free file state taxes Attach the statement to the amended return and write “Filed pursuant to section 301. Free file state taxes 9100-2” at the top of the amended return. Free file state taxes File the amended return at the same address you filed the original return. Free file state taxes Once you have filed the statement, you can cancel your postponement of gain only with the approval of the IRS. Free file state taxes Rents (Including Crop Shares) The rent you receive for the use of your farmland is generally rental income, not farm income. Free file state taxes However, if you materially participate in farming operations on the land, the rent is farm income. Free file state taxes See Landlord Participation in Farming in chapter 12. Free file state taxes Pasture income and rental. Free file state taxes   If you pasture someone else's livestock and take care of them for a fee, the income is from your farming business. Free file state taxes You must enter it as Other income on Schedule F. Free file state taxes If you simply rent your pasture for a flat cash amount without providing services, report the income as rent on Part I of Schedule E (Form 1040), Supplemental Income and Loss. Free file state taxes Crop Shares You must include rent you receive in the form of crop shares in income in the year you convert the shares to money or the equivalent of money. Free file state taxes It does not matter whether you use the cash method of accounting or an accrual method of accounting. Free file state taxes If you materially participate in operating a farm from which you receive rent in the form of crop shares or livestock, the rental income is included in self-employment income. Free file state taxes See Landlord Participation in Farming in chapter 12. Free file state taxes Report the rental income on Schedule F. Free file state taxes If you do not materially participate in operating the farm, report this income on Form 4835 and carry the net income or loss to Schedule E (Form 1040). Free file state taxes The income is not included in self-employment income. Free file state taxes Crop shares you use to feed livestock. Free file state taxes   Crop shares you receive as a landlord and feed to your livestock are considered converted to money when fed to the livestock. Free file state taxes You must include the fair market value of the crop shares in income at that time. Free file state taxes You are entitled to a business expense deduction for the livestock feed in the same amount and at the same time you include the fair market value of the crop share as rental income. Free file state taxes Although these two transactions cancel each other for figuring adjusted gross income on Form 1040, they may be necessary to figure your self-employment tax. Free file state taxes See  chapter 12. Free file state taxes Crop shares you give to others (gift). Free file state taxes   Crop shares you receive as a landlord and give to others are considered converted to money when you make the gift. Free file state taxes You must report the fair market value of the crop share as income, even though someone else receives payment for the crop share. Free file state taxes Example. Free file state taxes A tenant farmed part of your land under a crop-share arrangement. Free file state taxes The tenant harvested and delivered the crop in your name to an elevator company. Free file state taxes Before selling any of the crop, you instructed the elevator company to cancel your warehouse receipt and make out new warehouse receipts in equal amounts of the crop in the names of your children. Free file state taxes They sell their crop shares in the following year and the elevator company makes payments directly to your children. Free file state taxes In this situation, you are considered to have received rental income and then made a gift of that income. Free file state taxes You must include the fair market value of the crop shares in your income for the tax year you gave the crop shares to your children. Free file state taxes Crop share loss. Free file state taxes   If you are involved in a rental or crop-share lease arrangement, any loss from these activities may be subject to the limits under the passive loss rules. Free file state taxes See Publication 925 for information on these rules. Free file state taxes Agricultural Program Payments You must include in income most government payments, such as those for approved conservation practices, direct payments, and counter-cyclical payments, whether you receive them in cash, materials, services, or commodity certificates. Free file state taxes However, you can exclude from income some payments you receive under certain cost-sharing conservation programs. Free file state taxes See Cost-Sharing Exclusion (Improvements) , later. Free file state taxes Report the agricultural program payment on the appropriate line of Schedule F, Part I. Free file state taxes Report the full amount even if you return a government check for cancellation, refund any of the payment you receive, or the government collects all or part of the payment from you by reducing the amount of some other payment or Commodity Credit Corporation (CCC) loan. Free file state taxes However, you can deduct the amount you refund or return or that reduces some other payment or loan to you. Free file state taxes Claim the deduction on Schedule F for the year of repayment or reduction. Free file state taxes Commodity Credit Corporation (CCC) Loans Generally, you do not report loans you receive as income. Free file state taxes However, if you pledge part or all of your production to secure a CCC loan, you can treat the loan as if it were a sale of the crop and report the loan proceeds as income in the year you receive them. Free file state taxes You do not need approval from the IRS to adopt this method of reporting CCC loans. Free file state taxes Once you report a CCC loan as income for the year received, you generally must report all CCC loans in that year and later years in the same way. Free file state taxes However, you can obtain for your tax year an automatic consent to change your method of accounting for loans received from the CCC, from including the loan amount in gross income for the tax year in which the loan is received to treating the loan amount as a loan. Free file state taxes For more information, see Part I of the Instructions for Form 3115 and Revenue Procedure 2008-52. Free file state taxes Revenue Procedure 2008-52, 2008-36 I. Free file state taxes R. Free file state taxes B. Free file state taxes 587, is available at  www. Free file state taxes irs. Free file state taxes gov/irb/2008-36_IRB/ar09. Free file state taxes html. Free file state taxes You can request income tax withholding from CCC loan payments you receive. Free file state taxes Use Form W-4V, Voluntary Withholding Request. Free file state taxes See chapter 16 for information about ordering the form. Free file state taxes To elect to report a CCC loan as income, include the loan proceeds as income on Schedule F, line 7a, for the year you receive it. Free file state taxes Attach a statement to your return showing the details of the loan. Free file state taxes You must file the statement and the return by the due date of the return, including extensions. Free file state taxes If you timely filed your return for the year without making the election, you can still make the election by filing an amended return within 6 months of the due date of the return (excluding extensions). Free file state taxes Attach the statement to the amended return and write “Filed pursuant to section 301. Free file state taxes 9100-2” at the top of the return. Free file state taxes File the amended return at the same address you filed the original return. Free file state taxes When you make this election, the amount you report as income becomes your basis in the commodity. Free file state taxes See chapter 6 for information on the basis of assets. Free file state taxes If you later repay the loan, redeem the pledged commodity, and sell it, you report as income at the time of sale the sale proceeds minus your basis in the commodity. Free file state taxes If the sale proceeds are less than your basis in the commodity, you can report the difference as a loss on Schedule F. Free file state taxes If you forfeit the pledged crops to the CCC in full payment of the loan, the forfeiture is treated for tax purposes as a sale of the crops. Free file state taxes If you did not report the loan proceeds as income for the year you received them, you must include them in your income for the year of the forfeiture. Free file state taxes Form 1099-A. Free file state taxes   If you forfeit pledged crops to the CCC in full payment of a loan, you may receive a Form 1099-A, Acquisition or Abandonment of Secured Property. Free file state taxes “CCC” should be shown in box 6. Free file state taxes The amount of any CCC loan outstanding when you forfeited your commodity should also be indicated on the form. Free file state taxes Market Gain Under the CCC nonrecourse marketing assistance loan program, your repayment amount for a loan secured by your pledge of an eligible commodity is generally based on the lower of the loan rate or the prevailing world market price for the commodity on the date of repayment. Free file state taxes If you repay the loan when the world price is lower, the difference between that repayment amount and the original loan amount is market gain. Free file state taxes Whether you use cash or CCC certificates to repay the loan, you will receive a Form 1099-G showing the market gain you realized. Free file state taxes Market gain should be reported as follows. Free file state taxes If you elected to include the CCC loan in income in the year you received it, do not include the market gain in income. Free file state taxes However, adjust the basis of the commodity for the amount of the market gain. Free file state taxes If you did not include the CCC loan in income in the year received, include the market gain in your income. Free file state taxes The following examples show how to report market gain. Free file state taxes Example 1. Free file state taxes Mike Green is a cotton farmer. Free file state taxes He uses the cash method of accounting and files his tax return on a calendar year basis. Free file state taxes He has deducted all expenses incurred in producing the cotton and has a zero basis in the commodity. Free file state taxes In 2012, Mike pledged 1,000 pounds of cotton as collateral for a CCC loan of $2,000 (a loan rate of $2. Free file state taxes 00 per pound). Free file state taxes In 2013, he repaid the loan and redeemed the cotton for $1,500 when the world price was $1. Free file state taxes 50 per pound (lower than the loan amount). Free file state taxes Later in 2013, he sold the cotton for $2,500. Free file state taxes The market gain on the redemption was $. Free file state taxes 50 ($2. Free file state taxes 00 – $1. Free file state taxes 50) per pound. Free file state taxes Mike realized total market gain of $500 ($. Free file state taxes 50 x 1,000 pounds). Free file state taxes How he reports this market gain and figures his gain or loss from the sale of the cotton depends on whether he included CCC loans in income in 2012. Free file state taxes Included CCC loan. Free file state taxes   Mike reported the $2,000 CCC loan as income for 2012 on Schedule F, line 1b, so he is treated as if he sold the cotton for $2,000 when he pledged it and repurchased the cotton for $1,500 when he redeemed it. Free file state taxes The $500 market gain is not recognized on the redemption. Free file state taxes He reports it for 2013 as an agricultural program payment on Schedule F, line 4a, but does not include it as a taxable amount on line 4b. Free file state taxes   Mike's basis in the cotton after he redeemed it was $1,500, which is the redemption (repurchase) price paid for the cotton. Free file state taxes His gain from the sale is $1,000 ($2,500 – $1,500). Free file state taxes He reports the $1,000 gain as income for 2013 on Schedule F, line 1b. Free file state taxes Excluded CCC loan. Free file state taxes   Mike has income of $500 from market gain in 2013. Free file state taxes He reports it on Schedule F, lines 4a and 4b. Free file state taxes His basis in the cotton is zero, so his gain from its sale is $2,500. Free file state taxes He reports the $2,500 gain as income for 2013 on Schedule F, line 1b. Free file state taxes Example 2. Free file state taxes The facts are the same as in Example 1 except that, instead of selling the cotton for $2,500 after redeeming it, Mike entered into an option-to-purchase contract with a cotton buyer before redeeming the cotton. Free file state taxes Under that contract, Mike authorized the cotton buyer to pay the CCC loan on Mike's behalf. Free file state taxes In 2013, the cotton buyer repaid the loan for $1,500 and immediately exercised his option, buying the cotton for $1,500. Free file state taxes How Mike reports the $500 market gain on the redemption of the cotton and figures his gain or loss from its sale depends on whether he included CCC loans in income in 2012. Free file state taxes Included CCC loan. Free file state taxes   As in Example 1, Mike is treated as though he sold the cotton for $2,000 when he pledged it and repurchased the cotton for $1,500 when the cotton buyer redeemed it for him. Free file state taxes The $500 market gain is not recognized on the redemption. Free file state taxes Mike reports it for 2013 as an agricultural program payment on Schedule F, line 4a, but does not include it as a taxable amount on line 4b. Free file state taxes   Also, as in Example 1, Mike's basis in the cotton when the cotton buyer redeemed it for him was $1,500. Free file state taxes Mike has no gain or loss on its sale to the cotton buyer for that amount. Free file state taxes Excluded CCC loan. Free file state taxes   As in Example 1, Mike has income of $500 from market gain in 2013. Free file state taxes He reports it on Schedule F, lines 4a and 4b. Free file state taxes His basis in the cotton is zero, so his gain from its sale is $1,500. Free file state taxes He reports the $1,500 gain as income for 2013 on Schedule F, line 1b. Free file state taxes Conservation Reserve Program (CRP) Under the Conservation Reserve Program (CRP), if you own or operate highly erodible or other specified cropland, you may enter into a long-term contract with the USDA, agreeing to convert to a less intensive use of that cropland. Free file state taxes You must include the annual rental payments and any one-time incentive payment you receive under the program on Schedule F, lines 4a and 4b. Free file state taxes Cost-share payments you receive may qualify for the cost-sharing exclusion. Free file state taxes See Cost-Sharing Exclusion (Improvements) , later. Free file state taxes CRP payments are reported to you on Form 1099-G. Free file state taxes Individuals who are receiving Social Security retirement or disability benefits may exclude CRP payments when calculating self-employment tax. Free file state taxes See the instructions for Schedule SE (Form 1040). Free file state taxes Crop Insurance and Crop Disaster Payments You must include in income any crop insurance proceeds you receive as the result of physical crop damage or reduction of crop revenue, or both. Free file state taxes You generally include them in the year you receive them. Free file state taxes Treat as crop insurance proceeds the crop disaster payments you receive from the federal government as the result of destruction or damage to crops, or the inability to plant crops, because of drought, flood, or any other natural disaster. Free file state taxes You can request income tax withholding from crop disaster payments you receive from the federal government. Free file state taxes Use Form W-4V, Voluntary Withholding Request. Free file state taxes See chapter 16 for information about ordering the form. Free file state taxes Election to postpone reporting until the following year. Free file state taxes   You can postpone reporting some or all crop insurance proceeds as income until the year following the year the physical damage occurred if you meet all the following conditions. Free file state taxes You use the cash method of accounting. Free file state taxes You receive the crop insurance proceeds in the same tax year the crops are damaged. Free file state taxes You can show that under your normal business practice you would have included income from the damaged crops in any tax year following the year the damage occurred. Free file state taxes   Deferral is not permitted for proceeds received from revenue insurance policies. Free file state taxes   To postpone reporting some or all crop insurance proceeds received in 2013, report the amount you received on Schedule F, line 6a, but do not include it as a taxable amount on line 6b. Free file state taxes Check the box on line 8c and attach a statement to your tax return. Free file state taxes The statement must include your name and address and contain the following information. Free file state taxes A statement that you are making an election under IRC section 451(d) and Regulations section 1. Free file state taxes 451-6. Free file state taxes The specific crop or crops physically destroyed or damaged. Free file state taxes A statement that under your normal business practice you would have included income from some or all of the destroyed or damaged crops in gross income for a tax year following the year the crops were destroyed or damaged. Free file state taxes The cause of the physical destruction or damage and the date or dates it occurred. Free file state taxes The total payments you received from insurance carriers, itemized for each specific crop, and the date you received each payment. Free file state taxes The name of each insurance carrier from whom you received payments. Free file state taxes   One election covers all crops representing a single trade or business. Free file state taxes If you have more than one farming business, make a separate election for each one. Free file state taxes For example, if you operate two separate farms on which you grow different crops and you keep separate books for each farm, you should make two separate elections to postpone reporting insurance proceeds you receive for crops grown on each of your farms. Free file state taxes   An election is binding for the year unless the IRS approves your request to change it. Free file state taxes To request IRS approval to change your election, write to the IRS at the following address giving your name, address, identification number, the year you made the election, and your reasons for wanting to change it. Free file state taxes Ogden Submission Processing Center P. Free file state taxes O. Free file state taxes Box 9941 Ogden, UT 84409 Feed Assistance and Payments The Disaster Assistance Act of 1988 authorizes programs to provide feed assistance, reimbursement payments, and other benefits to qualifying livestock producers if the Secretary of Agriculture determines that, because of a natural disaster, a livestock emergency exists. Free file state taxes These programs include partial reimbursement for the cost of purchased feed and for certain transportation expenses. Free file state taxes They also include the donation or sale at a below-market price of feed owned by the Commodity Credit Corporation. Free file state taxes Include in income: The market value of donated feed, The difference between the market value and the price you paid for feed you buy at below-market prices, and Any cost reimbursement you receive. Free file state taxes You must include these benefits in income in the year you receive them. Free file state taxes You cannot postpone reporting them under the rules explained earlier for weather-related sales of livestock or crop insurance proceeds. Free file state taxes Report the benefits on Schedule F, Part I, as agricultural program payments. Free file state taxes You can usually take a current deduction for the same amount as a feed expense. Free file state taxes Cost-Sharing Exclusion (Improvements) You can exclude from your income part or all of a payment you receive under certain federal or state cost-sharing conservation, reclamation, and restoration programs. Free file state taxes A payment is any economic benefit you get as a result of an improvement. Free file state taxes However, this exclusion applies only to that part of a payment that meets all three of the following tests. Free file state taxes It was for a capital expense. Free file state taxes You cannot exclude any part of a payment for an expense you can deduct in the year you pay or incur it. Free file state taxes You must include the payment for a deductible expense in income, and you can take any offsetting deduction. Free file state taxes See chapter 5 for information on deducting soil and water conservation expenses. Free file state taxes It does not substantially increase your annual income from the property for which it is made. Free file state taxes An increase in annual income is substantial if it is more than the greater of the following amounts. Free file state taxes 10% of the average annual income derived from the affected property before receiving the improvement. Free file state taxes $2. Free file state taxes 50 times the number of affected acres. Free file state taxes The Secretary of Agriculture certified that the payment was primarily made for conserving soil and water resources, protecting or restoring the environment, improving forests, or providing a habitat for wildlife. Free file state taxes Qualifying programs. Free file state taxes   If the three tests listed above are met, you can exclude part or all of the payments from the following programs. Free file state taxes The rural clean water program authorized by the Federal Water Pollution Control Act. Free file state taxes The rural abandoned mine program authorized by the Surface Mining Control and Reclamation Act of 1977. Free file state taxes The water bank program authorized by the Water Bank Act. Free file state taxes The emergency conservation measures program authorized by title IV of the Agricultural Credit Act of 1978. Free file state taxes The agricultural conservation program authorized by the Soil Conservation and Domestic Allotment Act. Free file state taxes The great plains conservation program authorized by the Soil Conservation and Domestic Policy Act. Free file state taxes The resource conservation and development program authorized by the Bankhead-Jones Farm Tenant Act and by the Soil Conservation and Domestic Allotment Act. Free file state taxes Certain small watershed programs, listed later. Free file state taxes Any program of a state, possession of the United States, a political subdivision of any of these, or of the District of Columbia under which payments are made to individuals primarily for conserving soil, protecting or restoring the environment, improving forests, or providing a habitat for wildlife. Free file state taxes Several state programs have been approved. Free file state taxes For information about the status of those programs, contact the state offices of the Farm Service Agency (FSA) and the Natural Resources and Conservation Service (NRCS). Free file state taxes Small watershed programs. Free file state taxes   If the three tests listed earlier are met, you can exclude part or all of the payments you receive under the following programs for improvements made in connection with a watershed. Free file state taxes The programs under the Watershed Protection and Flood Prevention Act. Free file state taxes The flood prevention projects under the Flood Control Act of 1944. Free file state taxes The Emergency Watershed Protection Program under the Flood Control Act of 1950. Free file state taxes Certain programs under the Colorado River Basin Salinity Control Act. Free file state taxes The Wetlands Reserve Program authorized by the Food Security Act of 1985, the Federal Agriculture Improvement and Reform Act of 1996 and the Farm Security and Rural Investment Act of 2002. Free file state taxes The Environmental Quality Incentives Program (EQIP) authorized by the Federal Agriculture Improvement and Reform Act of 1996. Free file state taxes The Wildlife Habitat Incentives Program (WHIP) authorized by the Federal Agriculture Improvement and Reform Act of 1996. Free file state taxes The Soil and Water Conservation Assistance Program authorized by the Agricultural Risk Protection Act of 2000. Free file state taxes The Agricultural Management Assistance Program authorized by the Agricultural Risk Protection Act of 2000. Free file state taxes The Conservation Reserve Program authorized by the Food Security Act of 1985 and the Federal Agriculture Improvement and Reform Act of 1996. Free file state taxes The Forest Land Enhancement Program authorized under the Farm Security and Rural Investment Act of 2002. Free file state taxes The Conservation Security Program authorized by the Food Security Act of 1985. Free file state taxes The Forest Health Protection Program (FHPP) authorized by the Cooperative Forestry Assistance Act of 1978. Free file state taxes Income realized. Free file state taxes   The gross income you realize upon getting an improvement under these cost-sharing programs is the value of the improvement reduced by the sum of the excludable portion and your share of the cost of the improvement (if any). Free file state taxes Value of the improvement. Free file state taxes   You determine the value of the improvement by multiplying its fair market value (defined in chapter 6) by a fraction. Free file state taxes The numerator of the fraction is the total cost of the improvement (all amounts paid either by you or by the government for the improvement) reduced by the sum of the following items. Free file state taxes Any government payments under a program not listed earlier. Free file state taxes Any part of a government payment under a program listed earlier that the Secretary of Agriculture has not certified as primarily for conservation. Free file state taxes Any government payment to you for rent or for your services. Free file state taxes The denominator of the fraction is the total cost of the improvement. Free file state taxes Excludable portion. Free file state taxes   The excludable portion is the present fair market value of the right to receive annual income from the affected acreage of the greater of the following amounts. Free file state taxes 10% of the prior average annual income from the affected acreage. Free file state taxes The prior average annual income is the average of the gross receipts from the affected acreage for the last 3 tax years before the tax year in which you started to install the improvement. Free file state taxes $2. Free file state taxes 50 times the number of affected acres. Free file state taxes The calculation of present fair market value of the right to receive annual income is too complex to discuss in this publication. Free file state taxes You may need to consult your tax advisor for assistance. Free file state taxes Example. Free file state taxes One hundred acres of your land was reclaimed under a rural abandoned mine program contract with the Natural Resources Conservation Service of the USDA. Free file state taxes The total cost of the improvement was $500,000. Free file state taxes The USDA paid $490,000. Free file state taxes You paid $10,000. Free file state taxes The value of the cost-sharing improvement is $15,000. Free file state taxes The present fair market value of the right to receive the annual income described in (1) above is $1,380, and the present fair market value of the right to receive the annual income described in (2) is $1,550. Free file state taxes The excludable portion is the greater amount, $1,550. Free file state taxes You figure the amount to include in gross income as follows: Value of cost-sharing improvement $15,000 Minus: Your share $10,000     Excludable portion 1,550 11,550 Amount included in income $ 3,450 Effects of the exclusion. Free file state taxes   When you figure the basis of property you acquire or improve using cost-sharing payments excluded from income, subtract the excluded payments from your capital costs. Free file state taxes Any payment excluded from income is not part of your basis. Free file state taxes In the example above, the increase in basis is $500,000 – $490,000 + $3,450 = $13,450. Free file state taxes   In addition, you cannot take depreciation, amortization, or depletion deductions for the part of the cost of the property for which you receive cost-sharing payments you exclude from income. Free file state taxes How to report the exclusion. Free file state taxes   Attach a statement to your tax return (or amended return) for the tax year you receive the last government payment for the improvement. Free file state taxes The statement must include the following information. Free file state taxes The dollar amount of the cost funded by the government payment. Free file state taxes The value of the improvement. Free file state taxes The amount you are excluding. Free file state taxes   Report the total cost-sharing payments you receive on Schedule F, line 4a, and the taxable amount on line 4b. Free file state taxes Recapture. Free file state taxes   If you dispose of the property within 20 years after you received the excluded payments, you must treat as ordinary income part or all of the cost-sharing payments you excluded. Free file state taxes In the above example, if the 100 acres were sold within 20 years of the exclusion for a gain of $2,000, $1,550 of that amount would be included in ordinary income. Free file state taxes You must report the recapture on Form 4797. Free file state taxes See Section 1255 property under Other Gains in chapter 9. Free file state taxes Electing not to exclude payments. Free file state taxes   You can elect not to exclude all or part of any payments you receive under these programs. Free file state taxes If you make this election for all of these payments, none of the above restrictions and rules apply. Free file state taxes You must make this election by the due date, including extensions, for filing your return. Free file state taxes In the example above, an election not to exclude payments results in $5,000 included in income and a $15,000 increase in basis. Free file state taxes If you timely filed your return for the year without making the election, you can still make the election by filing an amended return within 6 months of the due date of the return (excluding extensions). Free file state taxes Write “Filed pursuant to section 301. Free file state taxes 9100-2” at the top of the amended return and file it at the same address you filed the original return. Free file state taxes Payments Under the Farm Security and Rural Investment Act of 2002 and Under the Food, Conservation, and Energy Act of 2008 The Farm Security and Rural Investment Act of 2002 created two new types of payments—direct and counter-cyclical payments. Free file state taxes You must include these payments on Schedule F, lines 4a and 4b. Free file state taxes The Food, Conservation, and Energy Act of 2008 provides for direct and counter-cyclical payments (DCP) as well as Average Crop Revenue Election (ACRE) payments. Free file state taxes You must include these payments on Schedule F, lines 6a and 6b. Free file state taxes The American Taxpayer Relief Act of 2012, enacted on January 2, 2013, amends the Food, Conservation, and Energy Act of 2008 and provided a one-year extension for these payments. Free file state taxes Tobacco Quota Buyout Program Payments The Fair and Equitable Tobacco Reform Act of 2004, title VI of the American Jobs Creation Act of 2004, terminated the tobacco marketing quota program and the tobacco price support program. Free file state taxes As a result, the USDA offered to enter into contracts with eligible tobacco quota holders and growers to provide compensation for the lost value of the quotas and related price support. Free file state taxes If you are an eligible tobacco quota holder, your contract entitles you to receive total payments of $7 per pound of quota in 10 equal annual payments in fiscal years 2005 through 2014. Free file state taxes If you are an eligible tobacco grower, your contract entitles you to receive total payments of up to $3 per pound of quota in 10 equal annual payments in fiscal years 2005 through 2014. Free file state taxes Tobacco Quota Holders Contract payments you receive are considered proceeds from a sale of your tobacco quota as of the date on which you and the USDA enter into the contract. Free file state taxes Your taxable gain or loss is the total amount received for your quota reduced by any amount treated as interest (discussed below), over your adjusted basis. Free file state taxes The gain or loss is capital or ordinary depending on how you used the quota. Free file state taxes See Capital or ordinary gain or loss , later. Free file state taxes Report the entire gain on your income tax return for the tax year that includes the date you entered into the contract if you elect not to use the installment method. Free file state taxes Adjusted basis. Free file state taxes   The adjusted basis of your quota is determined differently depending on how you obtained the quota. Free file state taxes The basis of a quota derived from an original grant by the federal government is zero. Free file state taxes The basis of a purchased quota is the purchase price. Free file state taxes The basis of a quota received as a gift is generally the same as the donor's basis. Free file state taxes However, under certain circumstances, the basis is increased by the amount of gift taxes paid. Free file state taxes If the basis is greater than the fair market value of the quota at the time of the gift, the basis for determining loss is the fair market value. Free file state taxes The basis of an inherited quota is generally the fair market value of the quota at the time of the decedent's death. Free file state taxes Reduction of basis. Free file state taxes   You are required to reduce the basis of your tobacco quota by the following amounts. Free file state taxes Deductions you took for amortization, depletion, or depreciation. Free file state taxes Amounts you previously deducted as a loss because of a reduction in the number of pounds of tobacco allowable under the quota. Free file state taxes The entire cost of a purchased quota you deducted in an earlier year (which reduces your basis to zero). Free file state taxes Amount treated as interest. Free file state taxes   You must reduce your tobacco quota buyout program payment by the amount treated as interest. Free file state taxes The interest is reportable as ordinary income. Free file state taxes If payments total $3,000 or less, your total quota buyout program payment does not include any amount treated as interest and you are not required to reduce the total payment you receive. Free file state taxes   In all other cases, a portion of each payment may be treated as interest for federal tax purposes. Free file state taxes You may be required to reduce your total quota buyout program payment before you calculate your gain or loss. Free file state taxes For more information, see Notice 2005-57, 2005-32 I. Free file state taxes R. Free file state taxes B. Free file state taxes 267, available at www. Free file state taxes irs. Free file state taxes gov/irb/2005-32_IRB/ar13. Free file state taxes html. Free file state taxes Installment method. Free file state taxes   You may use the installment method to report a gain if you receive at least one payment after the close of your tax year. Free file state taxes Under the installment method, a portion of the gain is taken into account in each year in which a payment is received. Free file state taxes See chapter 10 for more information. Free file state taxes Capital or ordinary gain or loss. Free file state taxes   Whether your gain or loss is ordinary or capital depends on how you used the quota. Free file state taxes Quota used in the trade or business of farming. Free file state taxes   If you used the quota in the trade or business of farming and you held it for more than one year, you report the transaction as a section 1231 transaction on Form 4797. Free file state taxes See Section 1231 transactions in the Instructions for Form 4797 for detailed information on reporting section 1231 transactions. Free file state taxes Quota held for investment. Free file state taxes   If you held the quota for investment purposes, any gain or loss is capital gain or loss. Free file state taxes The same result also applies if you held the quota for the production of income, though not connected with a trade or business. Free file state taxes Gain treated as ordinary income. Free file state taxes   If you previously deducted any of the following items, some or all of the capital gain must be recharacterized and reported as ordinary income. Free file state taxes Any resulting capital gain is taxed as ordinary income up to the amount previously deducted. Free file state taxes The cost of acquiring a quota. Free file state taxes Amounts for amortization, depletion, or depreciation. Free file state taxes Amounts to reflect a reduction in the quota pounds. Free file state taxes   You should include the ordinary income on your return for the tax year even if you use the installment method to report the remainder of the gain. Free file state taxes Self-employment income. Free file state taxes   The tobacco quota buyout payments are not self-employment income. Free file state taxes Income averaging for farmers. Free file state taxes   The gain or loss resulting from the quota payments does not qualify for income averaging. Free file state taxes A tobacco quota is considered an interest in land. Free file state taxes Income averaging is not available for gain or loss arising from the sale or other disposition of land. Free file state taxes Involuntary conversion. Free file state taxes   The buyout of the tobacco quota is not an involuntary conversion. Free file state taxes Form 1099-S. Free file state taxes   A tobacco quota is considered an interest in land, so the USDA will generally report the total amount you receive under a contract on Form 1099-S, Proceeds From Real Estate Transactions, if the amount is $600 or more. Free file state taxes The USDA will generally report any portion of a payment treated as interest of $600 or more to you on Form 1099-INT, Interest Income, for the year in which the payment is made. Free file state taxes Like-kind exchange of quota. Free file state taxes   You may postpone reporting the gain or loss from tobacco quota buyout payments by entering into a like-kind exchange if you comply with the requirements of section 1031 and the regulations thereunder. Free file state taxes See Notice 2005-57 for more information. Free file state taxes Tobacco Growers Contract payments you receive are determined by reference to the amount of quota under which you produced (or planted) quota tobacco during the 2002, 2003, and 2004 tobacco marketing years and are prorated based on the number of years that you produced (or planted) quota tobacco during those years. Free file state taxes Taxation of payments to tobacco growers. Free file state taxes   Payments to growers replace ordinary income that would have been earned had the tobacco marketing quota and price support programs continued. Free file state taxes Individuals will generally report the payments as an Agricultural program payment on Schedule F. Free file state taxes If you are a landowner who does not materially participate in the operation or management of the farm and are receiving the grower payment because your farm rental income is based on the tobacco grown by a tenant, the grower payment should be reported on Form 4835. Free file state taxes Self-employment income. Free file state taxes   Payments to growers generally represent self-employment income. Free file state taxes If the grower is an individual carrying on a trade or business and deriving income (other than farm rental income properly reported on Form 4835) from that trade or business, the payments are net earnings from self-employment. Free file state taxes Income averaging for farmers. Free file state taxes   Payments to growers who are individuals qualify for farm income averaging. Free file state taxes Form 1099-G. Free file state taxes   If the amount received in a taxable year is $600 or more, the amount will generally be reported by the USDA on a Form 1099-G. Free file state taxes Other Payments You must include most other government program payments in income. Free file state taxes Fertilizer and Lime Include in income the value of fertilizer or lime you receive under a government program. Free file state taxes How to claim the offsetting deduction is explained under Fertilizer and Lime in chapter 4. Free file state taxes Improvements If government payments are based on improvements, such as a pollution control facility, you must include them in income. Free file state taxes You must also capitalize the full cost of the improvement. Free file state taxes Since you have included the payments in income, they do not reduce your basis. Free file state taxes However, see Cost-Sharing Exclusion (Improvements) , earlier, for additional information. Free file state taxes National Tobacco Growers' Settlement Trust Fund Payments If you are a producer, landowner, or tobacco quota owner who receives money from the National Tobacco Growers' Settlement Trust Fund, you must report those payments as income. Free file state taxes You should receive a Form 1099-MISC, Miscellaneous Income, that shows the payment amount. Free file state taxes If you produce a tobacco crop, report the payments as income from farming on your Schedule F. Free file state taxes If you are a landowner or tobacco quota owner who leases tobacco-related property but you do not produce the crop, report the payments as farm rental income on Form 4835. Free file state taxes Payment to More Than One Person The USDA reports program payments to the IRS. Free file state taxes It reports a program payment intended for more than one person as having been paid to the person whose identification number is on record for that payment (payee of record). Free file state taxes If you, as the payee of record, receive a program payment belonging to someone else, such as your landlord, the amount belonging to the other person is a nominee distribution. Free file state taxes You should file Form 1099-G to report the identity of the actual recipient to the IRS. Free file state taxes You should also give this information to the recipient. Free file state taxes You can avoid the inconvenience of unnecessary inquiries about the identity of the recipient if you file this form. Free file state taxes Report the total amount reported to you as the payee of record on Schedule F, line 4a or 6a. Free file state taxes However, do not report as a taxable amount on line 4b or 6b any amount belonging to someone else. Free file state taxes See chapter 16 for information about ordering Form 1099-G. Free file state taxes Income From Cooperatives If you buy farm supplies through a cooperative, you may receive income from the cooperative in the form of patronage dividends (refunds). Free file state taxes If you sell your farm products through a cooperative, you may receive either patronage dividends or a per-unit retain certificate, explained later, from the cooperative. Free file state taxes Form 1099-PATR. Free file state taxes   The cooperative will report the income to you on Form 1099-PATR or a similar form and send a copy to the IRS. Free file state taxes Form 1099-PATR may also show an alternative minimum tax adjustment that you must include on Form 6251, Alternative Minimum Tax—Individuals, if you are required to file the form. Free file state taxes For information on the alternative minimum tax, see the Instructions for Form 6251. Free file state taxes Patronage Dividends You generally report patronage dividends as income on Schedule F, lines 3a and 3b, for the tax year you receive them. Free file state taxes They include the following items. Free file state taxes Money paid as a patronage dividend, including cash advances received (for example, from a marketing cooperative). Free file state taxes The stated dollar value of qualified written notices of allocation. Free file state taxes The fair market value of other property. Free file state taxes Do not report as income on line 3b any patronage dividends you receive from expenditures that were not deductible, such as buying personal or family items, capital assets, or depreciable property. Free file state taxes You must reduce the cost or other basis of these items by the amount of such patronage dividends received. Free file state taxes Personal items include fuel purchased for personal use, basic local telephone service, and personal long distance calls. Free file state taxes If you cannot determine what the dividend is for, report it as income on lines 3a and 3b. Free file state taxes Qualified written notice of allocation. Free file state taxes   If you receive a qualified written notice of allocation as part of a patronage dividend, you must generally include its stated dollar value in your income on Schedule F, lines 3a and 3b, in the year you receive it. Free file state taxes A written notice of allocation is qualified if at least 20% of the patronage dividend is paid in money or by qualified check and either of the following conditions is met. Free file state taxes The notice must be redeemable in cash for at least 90 days after it is issued, and you must have received a written notice of your right of redemption at the same time as the written notice of allocation. Free file state taxes You must have agreed to include the stated dollar value in income in the year you receive the notice by doing one of the following. Free file state taxes Signing and giving a written agreement to the cooperative. Free file state taxes Getting or keeping membership in the cooperative after it adopted a bylaw providing that membership constitutes agreement. Free file state taxes The cooperative must notify you in writing of this bylaw and give you a copy. Free file state taxes Endorsing and cashing a qualified check paid as part of the same patronage dividend. Free file state taxes You must cash the check by the 90th day after the close of the payment period for the cooperative's tax year for which the patronage dividend was paid. Free file state taxes Qualified check. Free file state taxes   A qualified check is any instrument that is redeemable in money and meets both of the following requirements. Free file state taxes It is part of a patronage dividend that also includes a qualified written notice of allocation for which you met condition 2(c), above. Free file state taxes It is imprinted with a statement that endorsing and cashing it constitutes the payee's consent to include in income the stated dollar value of any written notices of allocation paid as part of the same patronage dividend. Free file state taxes Loss on redemption. Free file state taxes   You can deduct on Schedule F, Part II, any loss incurred on the redemption of a qualified written notice of allocation you received in the ordinary course of your farming business. Free file state taxes The loss is the difference between the stated dollar amount of the qualified written notice you included in income and the amount you received when you redeemed it. Free file state taxes Nonqualified notice of allocation. Free file state taxes   Do not include the stated dollar value of any nonqualified notice of allocation in income when you receive it. Free file state taxes Your basis in the notice is zero. Free file state taxes You must include in income for the tax year of disposition any amount you receive from its sale, redemption, or other disposition. Free file state taxes Report that amount, up to the stated dollar value of the notice, on Schedule F, lines 3a and 3b. Free file state taxes However, do not include that amount in your income if the notice resulted from buying or selling capital assets or depreciable property or from buying personal items, as explained in the following discussions. Free file state taxes   If the amount you receive is more than the stated dollar value of the notice, report the excess as the type of income it represents. Free file state taxes For example, if it represents interest income, report it on your return as interest. Free file state taxes Buying or selling capital assets or depreciable property. Free file state taxes   Do not include in income patronage dividends from buying capital assets or depreciable property used in your business. Free file state taxes You must, however, reduce the basis of these assets by the dividends. Free file state taxes This reduction is taken into account as of the first day of the tax year in which the dividends are received. Free file state taxes If the dividends are more than your unrecovered basis, reduce the unrecovered basis to zero and include the difference on Schedule F, line 3a, for the tax year you receive them. Free file state taxes   This rule and the exceptions explained below also apply to amounts you receive from the sale, redemption, or other disposition of a nonqualified notice of allocation that resulted from buying or selling capital assets or depreciable property. Free file state taxes Example. Free file state taxes On July 1, 2012, Mr. Free file state taxes Brown, a patron of a cooperative association, bought a machine for his dairy farm business from the association for $2,900. Free file state taxes The machine has a life of 7 years under MACRS (as provided in the Table of Class Lives and Recovery Periods in Appendix B of Publication 946, Depreciation and Amortization). Free file state taxes Mr. Free file state taxes Brown files his return on a calendar year basis. Free file state taxes For 2012, he claimed a depreciation deduction of $311, using the 10. Free file state taxes 71% depreciation rate from the 150% declining balance, half-year convention table (shown in Table A-14 in Appendix A of Publication 946). Free file state taxes On July 2, 2013, the cooperative association paid Mr. Free file state taxes Brown a $300 cash patronage dividend for buying the machine. Free file state taxes Mr. Free file state taxes Brown adjusts the basis of the machine and figures his depreciation deduction for 2013 (and later years) as follows. Free file state taxes Cost of machine on July 1, 2012 $2,900 Minus: 2012 depreciation $311     2013 cash dividend 300 611 Adjusted basis for  depreciation for 2013: $2,289 Depreciation rate: 1 ÷ 6½ (remaining recovery period as of 1/1/2012) = 15. Free file state taxes 38% × 1. Free file state taxes 5 = 23. Free file state taxes 07% Depreciation deduction for 2013 ($2,289 × 23. Free file state taxes 07%) $528 Exceptions. Free file state taxes   If the dividends are for buying or selling capital assets or depreciable property you did not own at any time during the year you received the dividends, you must include them on Schedule F, lines 3a and 3b, unless one of the following rules applies. Free file state taxes If the dividends relate to a capital asset you held for more than 1 year for which a loss was or would have been deductible, treat them as gain from the sale or exchange of a capital asset held for more than 1 year. Free file state taxes If the dividends relate to a capital asset for which a loss was not or would not have been deductible, do not report them as income (ordinary or capital gain). Free file state taxes   If the dividends are for selling capital assets or depreciable property during the year you received the dividends, treat them as an additional amount received on the sale. Free file state taxes Personal purchases. Free file state taxes   Because you cannot deduct the cost of personal, living, or family items, such as supplies, equipment, or services not related to the production of farm income, you can omit from the taxable amount of patronage dividends on Schedule F, line 3b, any dividends from buying those items (and you must reduce the cost or other basis of those items by the amount of the dividends). Free file state taxes This rule also applies to amounts you receive from the sale, redemption, or other disposition of a nonqualified written notice of allocation resulting from these purchases. Free file state taxes Per-Unit Retain Certificates A per-unit retain certificate is any written notice that shows the stated dollar amount of a per-unit retain allocation made to you by the cooperative. Free file state taxes A per-unit retain allocation is an amount paid to patrons for products sold for them that is fixed without regard to the net earnings of the cooperative. Free file state taxes These allocations can be paid in money, other property, or qualified certificates. Free file state taxes Per-unit retain certificates issued by a cooperative generally receive the same tax treatment as patronage dividends, discussed earlier. Free file state taxes Qualified certificates. Free file state taxes   Qualified per-unit retain certificates are those issued to patrons who have agreed to include the stated dollar amount of these certificates in income in the year of receipt. Free file state taxes The agreement may be made in writing or by getting or keeping membership in a cooperative whose bylaws or charter states that membership constitutes agreement. Free file state taxes If you receive qualified per-unit retain certificates, include the stated dollar amount of the certificates in income on Schedule F, lines 3a and 3b, for the tax year you receive them. Free file state taxes Nonqualified certificates. Free file state taxes   Do not include the stated dollar value of a nonqualified per-unit retain certificate in income when you receive it. Free file state taxes Your basis in the certificate is zero. Free file state taxes You must include in income any amount you receive from its sale, redemption, or other disposition. Free file state taxes Report the amount you receive from the disposition as ordinary income on Schedule F, lines 3a and 3b, for the tax year of disposition. Free file state taxes Cancellation of Debt This section explains the general rule for including canceled debt in income and the exceptions to the general rule. Free file state taxes For more information on canceled debt, see Publication 4681, Canceled Debts, Foreclosures, Repossessions, and Abandonments. Free file state taxes General Rule Generally, if your debt is canceled or forgiven, other than as a gift or bequest to you, you must include the canceled amount in gross income for tax purposes. Free file state taxes Discharge of qualified farm indebtedness (defined below) is one of the exceptions to the general rule. Free file state taxes It is excluded from taxable income (see Exclusions , later). Free file state taxes Report the canceled amount on Schedule F, line 8, if you incurred the debt in your farming business. Free file state taxes If the debt is a nonbusiness debt, report the canceled amount as other income on Form 1040, line 21. Free file state taxes Election to defer income from discharge of indebtedness. Free file state taxes   You can elect to defer income from a discharge of business indebtedness that occurred after 2008 and before 2011. Free file state taxes Generally, if the election is made, the deferred income is included in gross income ratably over a 5-year period beginning in 2014 (for calendar year taxpayers) and the exclusions listed below do not apply. Free file state taxes See IRC section 108(i) and Publication 4681 for details. Free file state taxes Form 1099-C. Free file state taxes   If a federal agency, financial institution, credit union, finance company, or credit card company cancels or forgives your debt of $600 or more, you will receive a Form 1099-C, Cancellation of Debt. Free file state taxes The amount of debt canceled is shown in box 2. Free file state taxes Exceptions The following discussion covers some exceptions to the general rule for canceled debt. Free file state taxes These exceptions apply before the exclusions discussed below. Free file state taxes Price reduced after purchase. Free file state taxes   If your purchase of property was financed by the seller and the seller reduces the amount of the debt at a time when you are not insolvent and the reduction does not occur in a chapter 11 bankruptcy case, the amount of the debt reduction will be treated as a reduction in the purchase price of the property. Free file state taxes Reduce your basis in the property by the amount of the reduction in the debt. Free file state taxes The rules that apply to bankruptcy and insolvency are explained below under Exclusions . Free file state taxes Deductible debt. Free file state taxes   You do not realize income from a canceled debt to the extent the payment of the debt would have been a deductible expense. Free file state taxes This exception applies before the price reduction exception discussed above and the bankruptcy and insolvency exclusions discussed next. Free file state taxes Example. Free file state taxes You get accounting services for your farm on credit. Free file state taxes Later, you have trouble paying your farm debts, but you are not bankrupt or insolvent. Free file state taxes Your accountant forgives part of the amount you owe for the accounting services. Free file state taxes How you treat the canceled debt depends on your method of accounting. Free file state taxes Cash method — You do not include the canceled debt in income because payment of the debt would have been deductible as a business expense. Free file state taxes Accrual method — You include the canceled debt in income because the expense was deductible when you incurred the debt. Free file state taxes Exclusions Do not include canceled debt in income in the following situations. Free file state taxes The cancellation takes place in a bankruptcy case under title 11 of the U. Free file state taxes S. Free file state taxes Code. Free file state taxes The cancellation takes place when you are insolvent. Free file state taxes The canceled debt is a qualified farm debt. Free file state taxes The canceled debt is a qualified real property business debt (in the case of a taxpayer other than a C corporation). Free file state taxes See Publication 334, Tax Guide for Small Business, chapter 5. Free file state taxes The canceled debt is qualified principal residence indebtedness which is discharged after 2006 and before 2014. Free file state taxes The exclusions do not apply in the following situations: If a canceled debt is excluded from income because it takes place in a bankruptcy case, the exclusions in situations (2), (3), (4), and (5) do not apply. Free file state taxes If a canceled debt is excluded from income because it takes place when you are insolvent, the exclusions in situations (3) and (4) do not apply to the extent you are insolvent. Free file state taxes If a canceled debt is excluded from income because it is qualified principal residence indebtedness, the exclusion in situation (2) does not apply unless you elect to apply situation (2) instead of the exclusion for qualified principal residence indebtedness. Free file state taxes See Form 982 , later, for information on how to claim an exclusion for a canceled debt. Free file state taxes Debt. Free file state taxes   For this discussion, debt includes any debt for which you are liable or that attaches to property you hold. Free file state taxes Bankruptcy and Insolvency You can exclude a canceled debt from income if you are bankrupt or to the extent you are insolvent. Free file state taxes Bankruptcy. Free file state taxes   A bankruptcy case is a case under title 11 of the U. Free file state taxes S. Free file state taxes Code if you are under the jurisdiction of the court and the cancellation of the debt is granted by the court or is the result of a plan approved by the court. Free file state taxes   Do not include debt canceled in a bankruptcy case in your income in the year it is canceled. Free file state taxes Instead, you must use the amount canceled to reduce your tax attributes, explained below under Reduction of tax attributes . Free file state taxes Insolvency. Free file state taxes   You are insolvent to the extent your liabilities are more than the fair market value of your assets immediately before the cancellation of debt. Free file state taxes   You can exclude canceled debt from gross income up to the amount by which you are insolvent. Free file state taxes If the canceled debt is more than this amount and the debt qualifies, you can apply the rules for qualified farm debt or qualified real property business debt to the difference. Free file state taxes Otherwise, you include the difference in gross income. Free file state taxes Use the amount excluded because of insolvency to reduce any tax attributes, as explained below under Reduction of tax attributes . Free file state taxes You must reduce the tax attributes under the insolvency rules before applying the rules for qualified farm debt or for qualified real property business debt. Free file state taxes Example. Free file state taxes You had a $15,000 debt that was not qualified principal residence debt canceled outside of bankruptcy. Free file state taxes Immediately before the cancellation, your liabilities totaled $80,000 and your assets totaled $75,000. Free file state taxes Since your liabilities were more than your assets, you were insolvent to the extent of $5,000 ($80,000 − $75,000). Free file state taxes You can exclude this amount from income. Free file state taxes The remaining canceled debt ($10,000) may be subject to the qualified farm debt or qualified real property business debt rules. Free file state taxes If not, you must include it in income. Free file state taxes Reduction of tax attributes. Free file state taxes   If you exclude canceled debt from income in a bankruptcy case or during insolvency, you must use the excluded debt to reduce certain tax attributes. Free file state taxes Order of reduction. Free file state taxes   You must use the excluded canceled debt to reduce the following tax attributes in the order listed unless you elect to reduce the basis of depreciable property first, as explained later. Free file state taxes Net operating loss (NOL). Free file state taxes Reduce any NOL for the tax year of the debt cancellation, and then any NOL carryover to that year. Free file state taxes Reduce the NOL or NOL carryover one dollar for each dollar of excluded canceled debt. Free file state taxes General business credit carryover. Free file state taxes Reduce the credit carryover to or from the tax year of the debt cancellation. Free file state taxes Reduce the carryover 331/3 cents for each dollar of excluded canceled debt. Free file state taxes Minimum tax credit. Free file state taxes Reduce the minimum tax credit available at the beginning of the tax year following the tax year of the debt cancellation. Free file state taxes Reduce the credit 331/3 cents for each dollar of excluded canceled debt. Free file state taxes Capital loss. Free file state taxes Reduce any net capital loss for the tax year of the debt cancellation, and then any capital loss carryover to that year. Free file state taxes Reduce the capital loss or loss carryover one dollar for each dollar of excluded canceled debt. Free file state taxes Basis. Free file state taxes Reduce the basis of the property you hold at the beginning of the tax year following the tax year of the debt cancellation in the following order. Free file state taxes Real property (except inventory) used in your trade or business or held for investment that secured the canceled debt. Free file state taxes Personal property (except inventory and accounts and notes receivable) used in your trade or business or held for investment that secured the canceled debt. Free file state taxes Other property (except inventory and accounts and notes receivable) used in your trade or business or held for investment. Free file state taxes Inventory and accounts and notes receivable. Free file state taxes Other property. Free file state taxes Reduce the basis one dollar for each dollar of excluded canceled debt. Free file state taxes However, the reduction cannot be more than the total basis of property and the amount of money you hold immediately after the debt cancellation minus your total liabilities immediately after the cancellation. Free file state taxes For allocation rules that apply to basis reductions for multiple canceled debts, see Regulations section 1. Free file state taxes 1017-1(b)(2). Free file state taxes Also see Electing to reduce the basis of depreciable property
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Page Last Reviewed or Updated: 21-Mar-2014

The Free File State Taxes

Free file state taxes 22. Free file state taxes   Impuestos Table of Contents IntroductionGobierno tribal de indios estadounidenses. Free file state taxes Useful Items - You may want to see: Requisitos para Deducir Todo Impuesto Impuestos sobre los IngresosImpuestos Estatales y Locales sobre los Ingresos Impuestos Extranjeros sobre los Ingresos Impuestos Generales sobre las VentasVehículos de motor. Free file state taxes Impuestos sobre Bienes RaícesImpuestos sobre bienes raíces de años anteriores. Free file state taxes Ejemplos. Free file state taxes Formulario 1099-S. Free file state taxes Cantidades Relacionadas con Bienes Raíces que no Puede Deducir Impuestos sobre Bienes Muebles Impuestos y Cargos que no Puede Deducir Dónde se Anotan las Deducciones Introduction Este capítulo trata de los impuestos que puede deducir si detalla sus deducciones en el Anexo A (Formulario 1040). Free file state taxes También explica cuáles impuestos puede deducir en otros anexos o formularios y cuáles impuestos no puede deducir. Free file state taxes Este capítulo trata sobre los siguientes temas: Impuestos sobre los ingresos (federales, estatales, locales, y extranjeros). Free file state taxes Impuestos generales sobre ventas (estatales y locales). Free file state taxes Impuestos sobre bienes raíces (estatales, locales, y extranjeros). Free file state taxes Impuestos sobre bienes muebles (estatales y locales). Free file state taxes Impuestos y cargos que usted no puede deducir. Free file state taxes Use la Tabla 22-1 como guía para determinar cuáles impuestos se pueden deducir. Free file state taxes Hay una sección al final del capítulo que le explica cuál formulario debe usar para deducir diferentes tipos de impuestos. Free file state taxes Impuestos de negocio. Free file state taxes   Puede deducir ciertos impuestos solamente si son gastos ordinarios y necesarios de su ocupación o negocio o si los incurre para generar ingresos. Free file state taxes Para información sobre estos impuestos, vea la Publicación 535, Business Expenses (Gastos de negocio), en inglés. Free file state taxes Impuestos estatales o locales. Free file state taxes   Éstos son impuestos gravados por los 50 estados, posesiones (territorios no autónomos) de los EE. Free file state taxes UU. Free file state taxes o cualquiera de sus subdivisiones políticas (tal como un condado o una ciudad) o por el Distrito de Columbia. Free file state taxes Gobierno tribal de indios estadounidenses. Free file state taxes   Un gobierno tribal de indios estadounidenses, al que el Secretario del Tesoro reconoce que desempeña funciones gubernamentales sustanciales, se considera un estado para el propósito de reclamar una deducción tributaria. Free file state taxes Los impuestos sobre los ingresos, impuestos sobre bienes raíces e impuestos sobre bienes muebles gravados por dicho gobierno tribal de indios estadounidenses (o por cualquiera de sus subdivisiones tratadas como si fueran subdivisiones políticas de un estado) son deducibles. Free file state taxes Impuestos generales sobre las ventas. Free file state taxes   Estos son impuestos que se gravan a tasa fija sobre ventas al por menor. Free file state taxes Dichos impuestos corresponden a una amplia gama de diferentes tipos de artículos. Free file state taxes Impuestos extranjeros. Free file state taxes   Éstos son impuestos que grava un país extranjero o cualesquiera de sus subdivisiones políticas. Free file state taxes Useful Items - You may want to see: Publicación 514 Foreign Tax Credit for Individuals (Crédito por impuestos extranjeros para personas físicas), en inglés 530 Tax Information for Homeowners (Información tributaria para propietarios de vivienda), en inglés Formularios (e Instrucciones) Anexo A (Formulario 1040) Itemized Deductions (Deducciones detalladas), en inglés Anexo E (Formulario 1040) Supplemental Income and Loss (Ingresos y pérdidas suplementarios), en inglés 1116 Foreign Tax Credit (Crédito por impuestos extranjeros), en inglés Requisitos para Deducir Todo Impuesto Para que un impuesto sea deducible, se tienen que cumplir los dos requisitos siguientes: Se le tiene que gravar el impuesto a usted. Free file state taxes Usted tiene que pagar el impuesto durante su año tributario. Free file state taxes Se le tiene que gravar el impuesto a usted. Free file state taxes   En general, sólo puede deducir los impuestos que se le gravan a usted. Free file state taxes   Generalmente, puede deducir impuestos sobre bienes muebles sólo si usted es el dueño de la propiedad. Free file state taxes Si su cónyuge es dueño de la propiedad y paga impuestos sobre bienes raíces correspondientes a la misma, los impuestos se pueden deducir en la declaración separada de su cónyuge o en su declaración conjunta. Free file state taxes Tiene que pagar el impuesto durante su año tributario. Free file state taxes   Si es un contribuyente que usa el método contable a base de efectivo para pagar sus impuestos, puede deducir sólo aquellos impuestos que de hecho pagó durante su año tributario. Free file state taxes Si paga sus impuestos con cheque, el día en que envía o entrega el cheque se considera la fecha de pago, con tal de que el cheque sea aceptado por la institución financiera. Free file state taxes Si utiliza una cuenta para pagar por teléfono (como una tarjeta de crédito o retiro de fondos electrónico), la fecha de pago será la fecha en el estado de cuentas de la institución financiera indicando cuándo se hizo el pago. Free file state taxes Si usted disputa una obligación tributaria y es un contribuyente que usa el método a base de efectivo para pagar sus impuestos, puede deducir el impuesto únicamente en el año en que de hecho lo paga (o transfiere dinero u otros bienes para cumplir con la obligación en disputa). Free file state taxes Vea la Publicación 538, Accounting Periods and Methods (Períodos y métodos contables), en inglés, para más detalles. Free file state taxes    Si usa el método contable a base de lo devengado, vea la Publicación 538, en inglés, para más información. Free file state taxes Impuestos sobre los Ingresos Esta sección explica cuáles impuestos estatales y locales sobre los ingresos (incluyendo aportaciones del empleado a fondos estatales de beneficios) y cuáles impuestos sobre ingresos extranjeros se pueden deducir. Free file state taxes Impuestos Estatales y Locales sobre los Ingresos Puede deducir los impuestos estatales o locales sobre los ingresos. Free file state taxes Sin embargo, puede eligir deducir los impuestos generales estatales y locales sobre ventas en vez de deducir los impuestos estatales y locales sobre los ingresos. Free file state taxes Vea Impuestos Generales sobre las Ventas , mas adelante. Free file state taxes Excepción. Free file state taxes    No puede deducir impuestos estatales y locales que pague sobre ingresos exentos del impuesto federal sobre el ingreso, a menos que el ingreso exento del impuesto sea ingreso de intereses. Free file state taxes Por ejemplo, no puede deducir la parte del impuesto estatal sobre el ingreso que se grava sobre un subsidio por costo de vida exento del impuesto federal sobre el ingreso. Free file state taxes Qué Deducir Su deducción puede ser por impuestos retenidos, pagos de impuesto estimado u otros pagos de impuestos conforme a lo siguiente: Impuestos retenidos. Free file state taxes   Puede deducir los impuestos estatales y locales sobre el ingreso retenidos de su sueldo en el año en que son retenidos. Free file state taxes Sus Formularios W-2 indicarán la cantidad. Free file state taxes Los Formularios W-2G, 1099-G, 1099-R, y 1099-MISC también pueden indicar los impuestos sobre los ingresos estatales y locales retenidos. Free file state taxes Pagos de impuesto estimado. Free file state taxes   Puede deducir los pagos de impuesto estimado que hizo durante el año a un gobierno estatal o local. Free file state taxes Sin embargo, tendrá que tener una base razonable para hacer los pagos de impuesto estimado. Free file state taxes Todo pago de impuesto estimado estatal o local que no haya sido hecho de buena fe en el momento del pago no es deducible. Free file state taxes Por ejemplo, usted hizo un pago estimado del impuesto estatal sobre el ingreso. Free file state taxes No obstante, el cálculo aproximado de su obligación tributaria estatal resulta en que va a recibir un reembolso de todo su pago estimado. Free file state taxes Usted no tenía ninguna base razonable para creer que podría adeudar algún impuesto estatal sobre el ingreso adicional y no puede deducir el pago de impuesto estimado. Free file state taxes Reembolso aplicado a los impuestos. Free file state taxes   Puede deducir toda parte de un reembolso de impuestos estatales y locales sobre el ingreso de un año anterior que haya elegido utilizar para pagar sus impuestos estimados estatales o locales sobre el ingreso del año 2013. Free file state taxes    No reste de la deducción ninguno de los siguientes artículos: Todo reembolso de (o crédito por) el impuesto estatal o local sobre el ingreso (o crédito) que espere recibir para el año 2013. Free file state taxes Todo reembolso de (o crédito por) impuestos estatales y locales sobre los ingresos de un año anterior que de hecho haya recibido en 2013. Free file state taxes   Sin embargo, todo o parte de este reembolso (o crédito) puede ser tributable. Free file state taxes Vea Reembolso de (o crédito por) impuestos estatales o locales sobre el ingreso , más adelante. Free file state taxes Declaraciones federales separadas. Free file state taxes   Si usted y su cónyuge presentan declaraciones separadas del impuesto estatal, local y federal sobre el ingreso, cada uno puede deducir en su declaración federal sólo la cantidad de su propio impuesto estatal y local sobre el ingreso que pagó durante el año tributario. Free file state taxes Declaraciones conjuntas estatales y locales. Free file state taxes   Si usted y su cónyuge presentan declaraciones conjuntas estatales y locales y declaraciones federales separadas, cada uno puede deducir en su declaración federal separada parte del total de los impuestos estatales y locales sobre el ingreso pagados durante el año tributario. Free file state taxes Puede deducir sólo la cantidad del total de los impuestos que esté en proporción con sus ingresos brutos, comparados con la suma de los ingresos brutos de usted y los de su cónyuge. Free file state taxes Sin embargo, no puede deducir más de la cantidad que realmente pagó durante el año. Free file state taxes Puede evitar este cálculo si usted y su cónyuge son responsables, conjuntamente y por separado, de pagar la cantidad completa de impuestos estatales y locales sobre el ingreso. Free file state taxes De ser así, ambos pueden deducir en sus declaraciones federales separadas la cantidad que de hecho pagó cada uno. Free file state taxes Declaración conjunta federal. Free file state taxes   Si ustedes presentan una declaración conjunta federal, pueden deducir el total de los impuestos estatales y locales sobre el ingreso que pagaron ustedes dos. Free file state taxes Aportaciones a fondos de beneficios estatales. Free file state taxes    Como empleado, puede deducir aportaciones obligatorias hechas a fondos de beneficios estatales y retenidas de su salario que proveen protección contra la pérdida de salario. Free file state taxes Por ejemplo, algunos estados requieren que los empleados hagan aportaciones a fondos estatales que proveen beneficios del seguro por incapacidad o desempleo. Free file state taxes Los pagos obligatorios hechos a los siguientes fondos de beneficios estatales se pueden deducir como impuestos estatales sobre el ingreso en la línea 5 del Anexo A (Formulario 1040). Free file state taxes Fondo de Compensación por Desempleo de Alaska. Free file state taxes Fondo de Beneficios por Incapacidad no Laboral de California. Free file state taxes Fondo de Beneficios por Incapacidad no Laboral de Nueva Jersey. Free file state taxes Fondo de Compensación por Desempleo de Nueva Jersey. Free file state taxes Fondo de Beneficios por Incapacidad no Laboral de Nueva York. Free file state taxes Fondo de Compensación por Desempleo de Pennsylvania. Free file state taxes Fondo de Beneficios Temporales por Incapacidad de Rhode Island. Free file state taxes Fondo de Compensación Suplementaria del Seguro Obrero del Estado de Washington. Free file state taxes    Las aportaciones del empleado a planes de incapacidad privados o voluntarios no son deducibles. Free file state taxes Reembolso de (o crédito por) impuestos estatales o locales sobre el ingreso. Free file state taxes   Si recibe un reembolso de (o crédito por) impuestos estatales o locales sobre el ingreso en un año siguiente al año en que los pagó, puede verse obligado a incluir el reembolso en sus ingresos del año en que lo reciba, anotándolo en la línea 10 del Formulario 1040. Free file state taxes Esto incluye los reembolsos resultantes de impuestos que han sido retenidos en exceso, aplicados de una declaración de un año anterior, que no han sido calculados correctamente, o que han sido calculados nuevamente, debido a una declaración enmendada. Free file state taxes Si no detalló sus deducciones en el año anterior, no incluya el reembolso en los ingresos. Free file state taxes Si dedujo los impuestos en el año anterior, incluya todo o parte del reembolso en la línea 10 del Formulario 1040 en el año en que reciba el reembolso. Free file state taxes Para obtener una explicación de cuánto incluir, vea Recuperaciones de Fondos en el capítulo 12. Free file state taxes Impuestos Extranjeros sobre los Ingresos Generalmente, puede tomar una deducción o un crédito por los impuestos sobre los ingresos que le grava un país extranjero o una posesión (territorio no autónomo) de los Estados Unidos. Free file state taxes Sin embargo, no puede tomar una deducción ni un crédito por impuestos sobre los ingresos gravados a usted por otros países, que usted pagó sobre ingresos exentos del impuesto de los EE. Free file state taxes UU. Free file state taxes , conforme a la exclusión de ingresos ganados en el extranjero o la exclusión por concepto de vivienda en el extranjero. Free file state taxes Para información sobre estas exclusiones, vea la Publicación 54, Tax Guide for U. Free file state taxes S. Free file state taxes Citizens and Resident Aliens Abroad (Guía tributaria para ciudadanos y residentes extranjeros de los EE. Free file state taxes UU. Free file state taxes en el extranjero), en inglés. Free file state taxes Para información sobre el crédito por impuestos extranjeros, vea la Publicación 514, en inglés. Free file state taxes Impuestos Generales sobre las Ventas Puede optar por deducir impuestos generales estatales y locales sobre ventas, en lugar de impuestos estatales y locales sobre los ingresos, como deducción detallada en la línea 5b del Anexo A (Formulario 1040). Free file state taxes Usted puede calcular la deducción de impuestos sobre las ventas usando los gastos reales o las tablas correspondientes a impuestos estatales y locales. Free file state taxes Gastos reales. Free file state taxes   Normalmente, puede deducir los impuestos generales estatales y locales reales sobre las ventas (incluidos los impuestos de uso compensatorio) si la tasa de impuestos era igual a la tasa del impuesto general sobre las ventas. Free file state taxes No obstante, los impuestos sobre las ventas de comida, ropa, suministros médicos y vehículos motorizados son deducibles como impuestos generales sobre las ventas aun si la tasa de impuestos era inferior a la tasa del impuesto general sobre las ventas. Free file state taxes Si pagó impuestos sobre la venta de un vehículo motorizado a una tasa superior a la tasa del impuesto general sobre las ventas, puede deducir sólo la cantidad de impuestos que hubiera pagado conforme a la tasa del impuesto general sobre las ventas correspondientes a dicho vehículo. Free file state taxes Si usa el método basado en los gastos reales, tiene que tener recibos para demostrar los impuestos generales pagados sobre las ventas. Free file state taxes No incluya impuestos sobre las ventas pagado en los artículos utilizados en su actividad comercial o empresarial. Free file state taxes Vehículos de motor. Free file state taxes   Para propósitos de esta sección, los vehículos de motor incluyen: automóviles, motocicletas, casas rodantes, vehículos recreativos, vehículos utilitarios deportivos, camiones, camionetas y vehículos para uso fuera de la carretera. Free file state taxes Esto también incluye los impuestos sobre las ventas en un vehículo arrendado, pero no en los vehículos utilizados en su actividad comercial o empresarial. Free file state taxes Tablas de las tarifas opcionales para impuestos sobre las ventas. Free file state taxes   En vez de usar los gastos reales, puede calcular la deducción por impuestos generales estatales y locales sobre las ventas consultando las tablas de tarifas para el impuesto estatal y local sobre las ventas en las Instrucciones del Anexo A (Formulario1040). Free file state taxes Además, tal vez pueda añadir los impuestos generales estatales y locales sobre las ventas pagados sobre ciertos artículos específicos. Free file state taxes   Su cantidad correspondiente de las tarifas está basada en el estado donde vive, sus ingresos y el número de exenciones reclamadas en su declaración de impuestos. Free file state taxes Sus ingresos son el ingreso bruto ajustado más todo artículo no sujeto a impuestos, como los siguientes: Intereses exentos de impuestos. Free file state taxes Beneficios para veteranos. Free file state taxes Paga por combate no tributable. Free file state taxes Compensación del seguro obrero. Free file state taxes La parte no sujeta a impuestos de los beneficios del Seguro Social y de la jubilación de empleados ferroviarios. Free file state taxes La parte no sujeta a impuestos de una cuenta IRA, pensión o distribuciones de una anualidad, a excepción de las reinversiones. Free file state taxes Pagos de beneficios de asistencia pública. Free file state taxes   Si vivió en diferentes estados del país durante el mismo año tributario, tiene que prorratear la cantidad de las tarifas correspondiente a cada estado en el que vivió según las fechas en que vivió que en cada estado. Free file state taxes Vea las instrucciones de la línea 5 del Anexo A (Formulario 1040) para detalles adicionales. Free file state taxes Impuestos sobre Bienes Raíces Los impuestos sobre bienes raíces deducibles son todos los impuestos estatales, locales o extranjeros sobre bienes raíces que se graven para el bienestar general del público. Free file state taxes Puede deducir dichos impuestos sólo si se basan en el valor tasado de los bienes raíces y son cobrados uniformemente contra todos los bienes dentro de la jurisdicción de las autoridades tributarias. Free file state taxes Los impuestos sobre bienes raíces deducibles no suelen incluir impuestos cobrados por beneficios locales ni mejoras que aumentan el valor de los bienes. Free file state taxes Tampoco incluyen cargos detallados por servicios (tal como la recogida de basura) que se les cobran a bienes específicos o ciertas personas, aunque se les pague el cargo a las autoridades tributarias. Free file state taxes Para más información sobre impuestos y cargos que no son deducibles, vea Cantidades Relacionadas con Bienes Raíces que no Puede Deducir , más adelante. Free file state taxes Inquilinos-accionistas de una sociedad anónima de cooperativa de viviendas. Free file state taxes   Normalmente, si es inquilino-accionista de una sociedad anónima de cooperativa de viviendas, puede deducir la cantidad pagada a dicha sociedad anónima que corresponda a su parte de los impuestos sobre bienes raíces que dicha sociedad anónima pagó, o en los que incurrió por la vivienda de usted. Free file state taxes La sociedad anónima debería proporcionarle un estado de cuentas en el cual indica la parte de los impuestos que le corresponde. Free file state taxes Para más información, vea las Special Rules for Cooperatives (Reglas especiales para cooperativas), en la Publicación 530, en inglés. Free file state taxes División de los impuestos sobre bienes raíces entre compradores y vendedores. Free file state taxes   Si compró o vendió bienes raíces durante el año, los impuestos sobre bienes raíces tienen que ser divididos entre el comprador y el vendedor. Free file state taxes   El comprador y el vendedor tienen que dividir los impuestos de bienes raíces basándose en el número de días del año tributario para bienes raíces (el período relacionado con el impuesto gravado) que cada uno fue dueño de la propiedad. Free file state taxes Al vendedor se le trata como si hubiese pagado los impuestos hasta la fecha de la venta, pero sin incluir dicha fecha. Free file state taxes Al comprador se le trata como si hubiese pagado los impuestos a partir de la fecha de la venta. Free file state taxes Esto corresponde independientemente de las fechas de gravamen bajo la ley local. Free file state taxes Generalmente, esta información se incluye en el estado de liquidación proporcionado al cierre. Free file state taxes    Si usted (el vendedor) no puede deducir los impuestos hasta que se paguen debido a su uso del método contable a base de efectivo, y el comprador de su propiedad es personalmente responsable de pagar el impuesto, se considera que usted ha pagado su parte del impuesto en el momento de la venta. Free file state taxes Esto le permite deducir su parte del impuesto hasta la fecha de venta aunque de hecho no lo haya pagado. Free file state taxes Sin embargo, también tiene que incluir la cantidad de dicho impuesto en el precio de venta de la propiedad. Free file state taxes El comprador tiene que incluir la misma cantidad en su costo de la propiedad. Free file state taxes   Calcule su deducción tributaria sobre cada propiedad comprada o vendida durante el año tributario para bienes raíces conforme a lo siguiente: Hoja de Trabajo 22-1. Free file state taxes Cómo Calcular su Deducción por Impuestos sobre Bienes Raíces 1. Free file state taxes Anote el total de los impuestos sobre bienes raíces del año tributario para bienes raíces   2. Free file state taxes Anote el número de días del año tributario para bienes raíces que usted fue dueño de la propiedad   3. Free file state taxes Divida la cantidad de la línea 2 entre 365 (para años bisiestos, divida la cantidad de la línea 2 entre 366) . Free file state taxes 4. Free file state taxes Multiplique la línea 1 por la línea 3. Free file state taxes Ésta es su deducción. Free file state taxes Anótela en la línea 6 del Anexo A (Formulario 1040). Free file state taxes   Nota: Repita los pasos 1 al 4 para cada propiedad que compró o vendió durante el año tributario para bienes raíces. Free file state taxes La deducción total es la suma de las cantidades de la línea 4 para todas las propiedades. Free file state taxes Impuestos sobre bienes raíces de años anteriores. Free file state taxes   No divida impuestos morosos entre el comprador y el vendedor si dichos impuestos corresponden a un año tributario de bienes raíces anterior al año en que se vendió la propiedad. Free file state taxes Aunque el comprador acuerde pagar los impuestos morosos, el mismo no los puede deducir y tiene que sumarlos al costo de la propiedad. Free file state taxes El vendedor puede deducir estos impuestos pagados por el comprador. Free file state taxes Sin embargo, el vendedor tiene que incluirlos en el precio de venta. Free file state taxes Ejemplos. Free file state taxes   Los siguientes ejemplos demuestran cómo se dividen los impuestos sobre bienes raíces entre el comprador y el vendedor. Free file state taxes Ejemplo 1. Free file state taxes El año tributario de bienes raíces de José y María Blanco, tanto para su antigua vivienda como para su nueva vivienda, es el año natural. Free file state taxes El plazo para pagar vence el 1 de agosto. Free file state taxes El impuesto sobre su antigua vivienda, vendida el 7 de mayo, era $620. Free file state taxes El impuesto sobre su nueva vivienda, comprada el 3 de mayo, es $732. Free file state taxes Se considera que José y María han pagado una parte proporcional de los impuestos para bienes raíces sobre la antigua vivienda aunque de hecho no se los pagaron a las autoridades tributarias. Free file state taxes Por otro lado, pueden declarar sólo una parte proporcional de los impuestos que pagaron sobre su nueva propiedad, aunque pagaron la cantidad completa. Free file state taxes José y María fueron dueños de su antigua vivienda durante 126 días del año tributario para bienes raíces (del 1 de enero al 6 de mayo, el día antes de la venta). Free file state taxes Calculan su deducción tributaria sobre su antigua vivienda conforme a lo siguiente: Hoja de Trabajo 22-1. Free file state taxes Cómo Calcular su Deducción por Impuestos sobre Bienes Raíces−Impuestos sobre Antigua Vivienda 1. Free file state taxes Anote el total de los impuestos sobre bienes raíces del año tributario para bienes raíces $620 2. Free file state taxes Anote el número de días del año tributario para bienes raíces que usted fue dueño de la propiedad 126 3. Free file state taxes Divida la cantidad de la línea 2 entre 365 (para años bisiestos, divida la cantidad de la línea 2 entre 366) . Free file state taxes 3452 4. Free file state taxes Multiplique la línea 1 por la línea 3. Free file state taxes Ésta es su deducción. Free file state taxes Anótela en la línea 6 del Anexo A (Formulario 1040). Free file state taxes $214 Como los compradores de su antigua vivienda pagaron todos los impuestos, José y María también incluyen los $214 en el precio de venta de la antigua vivienda. Free file state taxes Los compradores suman los $214 al costo de su vivienda. Free file state taxes José y María fueron dueños de su nueva vivienda durante el año tributario para bienes raíces por 243 días (del 3 de mayo al 31 de diciembre, incluyendo la fecha de compra). Free file state taxes Calculan su deducción tributaria sobre su nueva vivienda conforme a lo siguiente: Hoja de Trabajo 22-1. Free file state taxes Cómo Calcular su Deducción por Impuestos sobre Bienes Raíces−Impuestos sobre Nueva Vivienda 1. Free file state taxes Anote el total de los impuestos sobre bienes raíces del año tributario para bienes raíces $732 2. Free file state taxes Anote el número de días del año tributario para bienes raíces que usted fue dueño de la propiedad 243 3. Free file state taxes Divida la cantidad de la línea 2 entre 365 (para años bisiestos, divida la cantidad de la línea 2 entre 366) . Free file state taxes 6658 4. Free file state taxes Multiplique la línea 1 por la línea 3. Free file state taxes Ésta es su deducción. Free file state taxes Anótela en la línea 6 del Anexo A (Formulario 1040). Free file state taxes $487 Como José y María pagaron todos los impuestos sobre la nueva vivienda, suman $245 ($732 pagados menos una deducción de $487) a su costo de la nueva vivienda. Free file state taxes Los vendedores suman estos $245 a su precio de venta y deducen los $245 como impuesto sobre los bienes raíces. Free file state taxes La deducción por el impuesto sobre bienes raíces de José y María por sus antiguas y nuevas viviendas es la suma de $214 y $487, o sea $701. Free file state taxes Anotarán esta cantidad en la línea 6 del Anexo A (Formulario 1040). Free file state taxes Ejemplo 2. Free file state taxes Jorge y Helena Moreno compraron una nueva casa el 3 de mayo del año 2013. Free file state taxes Su año tributario de bienes raíces para la nueva casa es el año natural. Free file state taxes Los impuestos sobre bienes raíces para el año 2012 fueron gravados en el estado donde viven los Moreno el 1 de enero del año 2013. Free file state taxes El plazo para pagar los impuestos venció el 31 de mayo del año 2013 y el 31 de octubre del año 2013. Free file state taxes Los Moreno acordaron pagar todos los impuestos morosos después de la fecha de compra. Free file state taxes Los impuestos sobre bienes raíces para el año 2012 fueron $680. Free file state taxes Pagaron $340 el 31 de mayo del año 2012 y $340 el 31 de octubre del año 2013. Free file state taxes Estos impuestos fueron para el año tributario de bienes raíces de 2012. Free file state taxes Los Moreno no pueden deducirlos ya que no fueron dueños de la propiedad hasta el año 2013. Free file state taxes En lugar de ello, tienen que añadir $680 al costo de su nueva vivienda. Free file state taxes En enero del año 2014, los Moreno reciben su estado de cuenta del impuesto sobre bienes raíces del año 2013 por $752 y pagarán esta cantidad en el año 2014. Free file state taxes Los Moreno fueron dueños de su nueva vivienda por 243 días (desde el 3 de mayo hasta el 31 de diciembre) durante el año tributario para bienes raíces de 2013. Free file state taxes Calcularán su deducción tributaria para el año 2014 conforme a lo siguiente: Hoja de Trabajo 22-1. Free file state taxes Cómo Calcular su Deducción por Impuestos sobre Bienes Raíces−Impuestos sobre Nueva Vivienda 1. Free file state taxes Anote el total de los impuestos sobre bienes raíces del año tributario para bienes raíces $752 2. Free file state taxes Anote el número de días del año tributario para bienes raíces que usted fue dueño de la propiedad 243 3. Free file state taxes Divida la cantidad de la línea 2 entre 365 (para años bisiestos, divida la cantidad de la línea 2 entre 366) . Free file state taxes 6658 4. Free file state taxes Multiplique la línea 1 por la línea 3. Free file state taxes Ésta es su deducción. Free file state taxes Anótela en la línea 6 del Anexo A (Formulario 1040). Free file state taxes $501 Los impuestos restantes de $251 (los $752 pagados menos una deducción de $501) que fueron pagados en el año 2014, junto con los $680 que fueron pagados en el año 2013, se suman al costo de su nueva vivienda. Free file state taxes Debido a que se considera que los impuestos hasta la fecha de venta han sido pagados por el vendedor en la fecha de venta, éste tiene derecho a una deducción tributaria de $931 para el año 2013. Free file state taxes Ésta es la suma de los $680 del año 2012 y los $251 por los 122 días durante los cuales fue dueño de la vivienda en el año 2013. Free file state taxes El vendedor también tiene que incluir los $931 en el precio de venta cuando calcule la ganancia o pérdida en la venta. Free file state taxes El vendedor debería ponerse en contacto con los Moreno en enero del año 2014 para averiguar cuánto impuesto sobre bienes raíces se debe pagar para el año 2013. Free file state taxes Formulario 1099-S. Free file state taxes   Para ciertas ventas o intercambios de bienes raíces, la persona encargada del cierre de la venta (generalmente el agente a cargo del cierre) prepara el Formulario 1099-S, Proceeds From Real Estate Transactions (Ganancias procedentes de transacciones de bienes raíces), en inglés, para declarar cierta información al IRS y al vendedor de la propiedad. Free file state taxes El recuadro 2 del Formulario 1099-S es para las utilidades brutas de la venta y debería incluir la parte de la obligación tributaria por bienes raíces correspondiente al vendedor que el comprador pagará a partir de la fecha de la venta. Free file state taxes El comprador incluye estos impuestos en la base del costo de la propiedad y el vendedor deduce esta cantidad como un impuesto pagado y lo incluye en el precio de venta de la propiedad. Free file state taxes   Para una transacción de bienes raíces que incluya una vivienda, todo impuesto sobre bienes raíces que el vendedor haya pagado por adelantado pero que es la obligación del comprador aparece en el recuadro 5 del Formulario 1099-S. Free file state taxes El comprador deduce esta cantidad como un impuesto sobre bienes raíces y el vendedor reduce esa misma cantidad de su deducción del impuesto sobre bienes raíces (o la incluye en el ingreso). Free file state taxes Vea Reembolso (o rebaja) , más adelante. Free file state taxes Impuestos depositados en plica. Free file state taxes   Si su pago hipotecario mensual incluye una cantidad depositada en plica (puesta bajo la custodia de un tercero) para impuestos sobre bienes raíces, es posible que no pueda deducir toda la cantidad que fue depositada en plica. Free file state taxes Puede deducir sólo el impuesto sobre bienes raíces que el tercero de hecho les pagó a las autoridades tributarias. Free file state taxes Si el tercero no le avisa de la cantidad de impuesto sobre bienes raíces pagada en nombre suyo, póngase en contacto con el tercero o las autoridades tributarias para averiguar la cantidad que debe usar en su declaración. Free file state taxes Tenencia en su totalidad. Free file state taxes   Si usted y su cónyuge tuvieron propiedad conyugal en su totalidad y presentan declaraciones federales separadas, cada uno de ustedes puede deducir sólo los impuestos que cada uno de ustedes pagó sobre la propiedad. Free file state taxes Personas divorciadas. Free file state taxes   Si su acuerdo de divorcio o separación declara que usted tiene que pagar los impuestos sobre bienes raíces por una vivienda cuyos dueños son usted y su cónyuge, una parte de sus pagos podría ser deducible como pensión para el cónyuge divorciado y otra parte como impuestos sobre bienes raíces. Free file state taxes Vea Impuestos y seguro en el capítulo 18 para más información. Free file state taxes Asignaciones para la vivienda para ministros de una orden religiosa y personal militar. Free file state taxes   Si es ministro de la iglesia o miembro de los servicios militares y recibe una asignación para su vivienda que puede excluir de sus ingresos, aún puede deducir todos los impuestos sobre bienes raíces que pague sobre su vivienda. Free file state taxes Reembolso (o rebaja). Free file state taxes   Si recibió un reembolso o una rebaja en el año tributario 2013 sobre bienes raíces que pagó ese año, tiene que reducir su deducción por la cantidad que se le ha reembolsado. Free file state taxes Si recibió un reembolso o una rebaja en el año tributario 2013 sobre bienes raíces que dedujo en un año anterior (ya sea como deducción detallada o como aumento en la deducción estándar), generalmente tiene que incluir el reembolso o la rebaja en los ingresos del año en que lo reciba. Free file state taxes Sin embargo, la cantidad que se incluye en los ingresos se limita a la cantidad de la deducción que disminuyó su impuesto en el año anterior. Free file state taxes Para más información, vea Recuperación de Fondos en el capítulo 12. Free file state taxes Tabla 22-1. Free file state taxes ¿Qué Impuestos Puede Deducir? Tipo de Impuestos Puede Deducir No Puede Deducir Honorarios y Cargos Honorarios y cargos que son gastos de su ocupación o negocio o de la generación de ingresos. Free file state taxes Honorarios y cargos que no son gastos de su ocupación o negocio o de la generación de ingresos, tales como cargos de licencias para conducir, inspección de vehículos, estacionamiento o cargos por servicios de agua (vea Impuestos y Cargos que no Puede Deducir ). Free file state taxes     Multas y sanciones. Free file state taxes Impuestos sobre los Ingresos Impuestos estatales y locales sobre los ingresos. Free file state taxes Impuestos federales sobre los ingresos. Free file state taxes   Impuestos extranjeros sobre los ingresos. Free file state taxes Aportaciones del empleado a planes de seguro por incapacidad privados o voluntarios. Free file state taxes   Aportaciones del empleado a fondos estatales, tal como se indica bajo Aportaciones a fondos de beneficios estatales . Free file state taxes Impuestos generales estatales y locales sobre las ventas si opta por deducir impuestos estatales y locales sobre los ingresos. Free file state taxes Impuestos Generales sobre las Ventas Impuestos generales estatales y locales sobre las ventas, incluyendo los impuestos de uso compensatorio. Free file state taxes Impuestos estatales y locales sobre los ingresos si opta por deducir impuestos generales estatales y locales sobre las ventas. Free file state taxes Otros Impuestos Impuestos que son gastos de su ocupación o negocio. Free file state taxes Impuestos federales sobre artículos de uso y consumo, tal como el impuesto sobre gasolina, que no son gastos de su ocupación o negocio o de la generación de ingresos. Free file state taxes   Impuestos sobre bienes que generan ingresos del alquiler o de regalías. Free file state taxes Impuestos per cápita. Free file state taxes   Impuestos sobre una profesión u ocupación. Free file state taxes Vea el capítulo 28. Free file state taxes     La mitad del impuesto sobre el trabajo por cuenta propia pagado. Free file state taxes   Impuestos sobre Bienes Muebles Impuestos estatales y locales sobre bienes muebles. Free file state taxes Aranceles de aduanas que no son gastos de su ocupación o negocio o de la generación de ingresos. Free file state taxes Impuestos sobre Bienes Raíces Impuestos estatales y locales sobre bienes raíces. Free file state taxes Impuestos sobre bienes raíces que se tratan como si hubiesen sido gravados a otra persona (vea División de los impuestos sobre bienes raíces entre compradores y vendedores ). Free file state taxes   Impuestos extranjeros sobre bienes raíces. Free file state taxes Impuestos para beneficios locales (con excepciones). Free file state taxes Vea Cantidades Relacionadas con Bienes Raíces que no Puede Deducir . Free file state taxes   La parte de los impuestos sobre bienes raíces del inquilino pagada por una sociedad anónima cooperativa de viviendas. Free file state taxes Cargos por la recogida de basura y desperdicios (hay excepciones). Free file state taxes Vea Cantidades Relacionadas con Bienes Raíces que no Puede Deducir . Free file state taxes     Aumento del alquiler debido a impuestos sobre bienes raíces más altos. Free file state taxes     Cuotas de la asociación de propietarios de viviendas. Free file state taxes Cantidades Relacionadas con Bienes Raíces que no Puede Deducir Los pagos de los siguientes no suelen ser deducibles como impuestos sobre bienes raíces: Impuestos por beneficios locales. Free file state taxes Cargos detallados por servicios (tales como cargos por la recogida de basura y desperdicios). Free file state taxes Impuestos de traspaso (impuestos de timbre). Free file state taxes Aumentos del alquiler ocasionados por aumentos en los impuestos sobre bienes raíces. Free file state taxes Cuotas de la asociación de propietarios de vivienda. Free file state taxes Impuestos por beneficios locales. Free file state taxes   Los impuestos deducibles sobre bienes raíces no suelen incluir impuestos gravados por beneficios locales y mejoras que tienden a aumentar el valor de la propiedad. Free file state taxes Estos incluyen impuestos por mejoras de calles, aceras o banquetas, cañerías principales, alcantarillado, instalaciones de estacionamiento público y mejoras parecidas. Free file state taxes Debe aumentar la base de su propiedad por la cantidad pagada. Free file state taxes   Los impuestos sobre beneficios locales se pueden deducir únicamente si son por mantenimiento, reparaciones o cargos de intereses relacionados con aquellos beneficios. Free file state taxes Si sólo una parte de los impuestos es por mantenimiento, reparaciones o intereses, tiene que poder determinar cuánta fue la cantidad de dicha parte para reclamar la deducción. Free file state taxes Si no puede determinar qué parte del impuesto es por mantenimiento, reparaciones o intereses, ninguna parte de éste es deducible. Free file state taxes    Los impuestos sobre beneficios locales podrían incluirse en su factura del impuesto sobre bienes raíces. Free file state taxes Si las autoridades tributarias (o prestamista hipotecario) no le proveen una copia de su factura del impuesto sobre bienes raíces, pídala. Free file state taxes Debe usar las reglas indicadas anteriormente para determinar si puede deducir el impuesto sobre beneficios locales. Free file state taxes Comuníquese con las autoridades tributarias si necesita información adicional sobre un cargo específico indicado en su factura del impuesto sobre bienes raíces. Free file state taxes Cargos detallados por servicios. Free file state taxes    Un cargo detallado por servicios sobre una propiedad o persona específica no es un impuesto, aun si el cargo se paga a las autoridades tributarias. Free file state taxes Por ejemplo, no puede deducir el cargo como un impuesto sobre bienes raíces si es: Un cargo unitario por el abastecimiento de un servicio (tal como un cargo de $5 que se cobra por cada 1,000 galones de agua que use), Un cargo periódico por un servicio residencial (tal como un cargo de $20 al mes o $240 al año que se le cobra a cada propietario de viviendas por la recogida de basura) o Un cargo fijo que se cobra por un solo servicio provisto por su gobierno (tal como un cargo de $30 por cortar el césped por haberla dejado crecer más de lo permitido conforme al reglamento local). Free file state taxes    Tiene que revisar su factura del impuesto sobre bienes raíces para determinar si algún cargo detallado no deducible, como los que se enumeran anteriormente, se ha incluido en la factura. Free file state taxes Si las autoridades tributarias (o el prestamista hipotecario) no le proveen una copia de su factura del impuesto sobre bienes raíces, pídala. Free file state taxes Excepción. Free file state taxes   Los cargos que se utilizan para mantener o mejorar servicios (tal como la recogida de basura o la protección policial o contra incendios) son deducibles como impuestos sobre bienes raíces si: Los cargos se gravan a una tasa similar para todos los bienes en la jurisdicción que impone el impuesto, Los fondos recaudados no tienen designación específica; en vez de ello, están mezclados con fondos fiscales generales y Los fondos utilizados para mantener y mejorar servicios no se limitan a la cantidad de dichos cargos recaudados ni están determinados por dicha cantidad. Free file state taxes Impuestos de traspaso (impuestos de timbre). Free file state taxes   No se pueden deducir los impuestos de traspaso ni impuestos similares, ni los cargos sobre la venta de una vivienda personal. Free file state taxes Si los paga el vendedor, son gastos de la venta y reducen la cantidad generada por la venta. Free file state taxes Si los paga el comprador, se incluyen en la base del costo de los bienes. Free file state taxes Aumento del alquiler debido a impuestos sobre bienes raíces más altos. Free file state taxes   Si su arrendador aumenta su alquiler en forma de recargo tributario (surcharge) debido a un aumento de los impuestos sobre bienes raíces, no puede deducir dicho aumento como impuesto. Free file state taxes Cuotas de la asociación de propietarios de vivienda. Free file state taxes   Estos cargos no se pueden deducir porque son gravados por la asociación de propietarios de vivienda y no por el gobierno estatal o local. Free file state taxes Impuestos sobre Bienes Muebles El impuesto sobre bienes muebles es deducible si es un impuesto estatal o local que: Se cobra sobre bienes muebles, Se basa únicamente en el valor de los bienes muebles y Se cobra anualmente, aunque se pague más o menos una vez al año. Free file state taxes Se puede considerar que un impuesto que reúna los requisitos anteriores ha sido cobrado sobre bienes muebles aunque sea para el ejercicio de un privilegio. Free file state taxes Por ejemplo, un impuesto anual basado en el valor reúne los requisitos como impuesto sobre bienes muebles, aunque se denomine un cargo de registro y sea para el privilegio de registrar automóviles o utilizarlos en las carreteras. Free file state taxes Si el impuesto se basa parcialmente en el valor y parcialmente en otros criterios, puede reunir los requisitos en parte. Free file state taxes Ejemplo. Free file state taxes El estado en el que vive cobra un impuesto anual del 1% del valor, más 50 centavos por quintal (cien libras de peso) de un vehículo por el registro del mismo. Free file state taxes Usted pagó $32 basados en el valor ($1,500) y peso (3,400 libras) de su automóvil. Free file state taxes Puede deducir $15 (1% x $1,500) como un impuesto sobre bienes muebles, ya que esa parte se basa en el valor. Free file state taxes Los $17 restantes ($0. Free file state taxes 50 x 34), basados en el peso, no se pueden deducir. Free file state taxes Impuestos y Cargos que no Puede Deducir Muchos impuestos del gobierno federal, estatal y local no son deducibles porque no pertenecen a las categorías mencionadas anteriormente. Free file state taxes Otros impuestos y cargos, tales como los impuestos federales sobre los ingresos, no son deducibles debido a que la ley tributaria prohibe específicamente la deducción de éstos. Free file state taxes Vea la Tabla 22-1. Free file state taxes Los impuestos y cargos que generalmente no se pueden deducir incluyen los siguientes: Impuestos sobre la nómina. Free file state taxes Esto incluye los impuestos del Seguro Social, Medicare e impuestos sobre la jubilación ferroviaria retenidos de su paga. Free file state taxes No obstante, una mitad del impuesto que usted paga sobre el trabajo por cuenta propia es deducible. Free file state taxes Asimismo, es posible que los impuestos del Seguro Social y otros impuestos laborales sobre la nómina que usted paga sobre el salario de un empleado doméstico se puedan incluir en los gastos médicos deducibles o en los gastos del cuidado de hijos que le permitan reclamar el crédito por gastos del cuidado de menores y dependientes. Free file state taxes Para más información, vea los capítulos 21 y 32. Free file state taxes Impuestos sobre caudales hereditarios, herencias, legados o sucesiones. Free file state taxes No obstante, puede deducir la parte del impuesto sobre la herencia atribuible al ingreso proveniente de un difunto si usted, como beneficiario, tiene que incluir dicho ingreso en su propio ingreso bruto. Free file state taxes En este caso, deduzca el impuesto sobre la herencia como deducción miscelánea no sujeta al límite del 2% del ingreso bruto ajustado. Free file state taxes Para más información, vea la Publicación 559, Survivors, Executors, and Administrators (Sobrevivientes, albaceas y administradores), en inglés. Free file state taxes Impuestos federales sobre los ingresos. Free file state taxes Incluye impuestos sobre los ingresos retenidos de su paga. Free file state taxes Multas y sanciones. Free file state taxes No puede deducir multas y sanciones pagadas a un gobierno por la violación de alguna ley, incluidas cantidades afines de garantía que haya perdido. Free file state taxes Impuestos sobre donaciones. Free file state taxes Cargos por licencias. Free file state taxes No puede deducir cargos por licencias para propósitos personales (cargos por licencia matrimonial, licencias para conducir y permiso para perros). Free file state taxes Impuestos per cápita. Free file state taxes No puede deducir los impuestos per cápita estatales o locales. Free file state taxes Muchos impuestos y cargos que no se enumeraron anteriormente tampoco pueden ser deducidos, a menos que sean gastos ordinarios y necesarios de una actividad comercial o una actividad que genere ingresos. Free file state taxes Para otros cargos que no se pueden deducir, vea Cantidades Relacionadas con Bienes Raíces que no Puede Deducir , anteriormente. Free file state taxes Dónde se Anotan las Deducciones Los impuestos se deducen en los siguientes anexos: Impuestos estatales y locales sobre los ingresos. Free file state taxes    Estos impuestos se deducen en la línea 5 del Anexo A (Formulario 1040), aunque su única fuente de ingresos sea de negocios, alquileres o regalías. Free file state taxes Marque el recuadro a en la línea 5. Free file state taxes Impuestos generales sobre las ventas. Free file state taxes   Los impuestos sobre las ventas se deducen en la línea 5 del Anexo A (Formulario 1040). Free file state taxes Usted tiene que marcar el recuadro b en la línea 5. Free file state taxes Si elige deducir estos impuestos, no puede deducir impuestos estatales y locales sobre los ingresos en el recuadro a de la línea 5 del Anexo A (Formulario 1040). Free file state taxes Impuestos extranjeros sobre los ingresos. Free file state taxes   Por lo general, los impuestos que paga a un país extranjero o una posesión (territorio no autónomo) estadounidense pueden ser reclamados como una deducción detallada en la línea 8 del Anexo A (Formulario 1040) o como un crédito a su favor para su impuesto sobre el ingreso de los EE. Free file state taxes UU. Free file state taxes en la línea 47 del Formulario 1040. Free file state taxes Para reclamar el crédito, es posible que tenga que llenar y adjuntar el Formulario 1116, en inglés. Free file state taxes Para más información, vea el capítulo 37 de esta publicación, las Instrucciones del Formulario 1040 o la Publicación 514, estos dos últimos en inglés. Free file state taxes Impuestos sobre bienes raíces e impuestos sobre bienes muebles. Free file state taxes    Los impuestos sobre bienes raíces e impuestos sobre bienes muebles se anotan en las líneas 6 y 7, respectivamente, del Anexo A (Formulario 1040), a menos que se paguen sobre bienes utilizados en su negocio. Free file state taxes En tal caso, se anotan en el Anexo C, Anexo C-EZ o Anexo F (Formulario 1040). Free file state taxes Los impuestos sobre propiedad que genere ingresos de alquiler o de regalías se anotan en el Anexo E (Formulario 1040). Free file state taxes Impuestos sobre el trabajo por cuenta propia. Free file state taxes    Deduzca la mitad de su impuesto sobre el trabajo por cuenta propia en la línea 27 del Formulario 1040. Free file state taxes Otros impuestos. Free file state taxes    Todos los demás impuestos deducibles se anotan en la línea 8 del Anexo A (Formulario 1040). Free file state taxes Prev  Up  Next   Home   More Online Publications