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Free Tax Preparation 2012

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Free Tax Preparation 2012

Free tax preparation 2012 4. Free tax preparation 2012   Sales and Trades of Investment Property Table of Contents IntroductionNominees. Free tax preparation 2012 Topics - This chapter discusses: Useful Items - You may want to see: What Is a Sale or Trade?Dividend versus sale or trade. Free tax preparation 2012 Worthless Securities Constructive Sales of Appreciated Financial Positions Section 1256 Contracts Marked to Market Basis of Investment PropertyCost Basis Basis Other Than Cost Adjusted Basis Stocks and Bonds How To Figure Gain or LossFair market value. Free tax preparation 2012 Debt paid off. Free tax preparation 2012 Payment of cash. Free tax preparation 2012 Special Rules for Mutual Funds Nontaxable TradesLike-Kind Exchanges Corporate Stocks Exchange of Shares In One Mutual Fund For Shares In Another Mutual Fund Insurance Policies and Annuities U. Free tax preparation 2012 S. Free tax preparation 2012 Treasury Notes or Bonds Transfers Between Spouses Related Party TransactionsGain on Sale or Trade of Depreciable Property Capital Gains and LossesCapital or Ordinary Gain or Loss Holding Period Nonbusiness Bad Debts Short Sales Wash Sales Options Straddles Sales of Stock to ESOPs or Certain Cooperatives Rollover of Gain From Publicly Traded Securities Gains on Qualified Small Business Stock Exclusion of Gain From DC Zone Assets Reporting Capital Gains and LossesException 1. Free tax preparation 2012 Exception 2. Free tax preparation 2012 Section 1256 contracts and straddles. Free tax preparation 2012 Market discount bonds. Free tax preparation 2012 File Form 1099-B or Form 1099-S with the IRS. Free tax preparation 2012 Capital Losses Capital Gain Tax Rates Special Rules for Traders in SecuritiesHow To Report Introduction This chapter explains the tax treatment of sales and trades of investment property. Free tax preparation 2012 Investment property. Free tax preparation 2012   This is property that produces investment income. Free tax preparation 2012 Examples include stocks, bonds, and Treasury bills and notes. Free tax preparation 2012 Property used in a trade or business is not investment property. Free tax preparation 2012 Form 1099-B. Free tax preparation 2012   If you sold property such as stocks, bonds, mutual funds, or certain commodities through a broker during the year, you should receive, for each sale, a Form 1099-B, Proceeds From Broker and Barter Exchange Transactions, or substitute statement, from the broker. Free tax preparation 2012 You should receive the statement by February 15 of the next year. Free tax preparation 2012 It will show the gross proceeds from the sale. Free tax preparation 2012 The IRS will also get a copy of Form 1099-B from the broker. Free tax preparation 2012   Use Form 1099-B (or substitute statement received from your broker) to complete Form 8949. Free tax preparation 2012 If you sold a covered security in 2013, your broker will send you a Form 1099-B (or substitute statement) that shows your basis. Free tax preparation 2012 This will help you complete Form 8949. Free tax preparation 2012 Generally, a covered security is a security you acquired after 2010, with certain exceptions explained in the Instructions for Form 8949. Free tax preparation 2012    For more information on Form 8949 and Schedule D (Form 1040), see Reporting Capital Gains and Losses in this chapter. Free tax preparation 2012 Also see the Instructions for Form 8949 and the Instructions for Schedule D (Form 1040). Free tax preparation 2012 Nominees. Free tax preparation 2012   If someone receives gross proceeds as a nominee for you, that person will give you a Form 1099-B, which will show gross proceeds received on your behalf. Free tax preparation 2012   If you receive a Form 1099-B that includes gross proceeds belonging to another person, see Nominees , later under Reporting Capital Gains and Losses for more information. Free tax preparation 2012 Other property transactions. Free tax preparation 2012   Certain transfers of property are discussed in other IRS publications. Free tax preparation 2012 These include: Sale of your main home, discussed in Publication 523, Selling Your Home; Installment sales, covered in Publication 537; Various types of transactions involving business property, discussed in Publication 544, Sales and Other Dispositions of Assets; Transfers of property at death, covered in Publication 559; and Disposition of an interest in a passive activity, discussed in Publication 925. Free tax preparation 2012 Topics - This chapter discusses: What Is a Sale or Trade? , Basis of Investment Property , Adjusted Basis , How To Figure Gain or Loss , Nontaxable trades , Transfers Between Spouses , Related Party Transactions , Capital Gains and Losses , Reporting Capital Gains and Losses , and Special Rules for Traders in Securities . Free tax preparation 2012 Useful Items - You may want to see: Publication 551 Basis of Assets Form (and Instructions) Schedule D (Form 1040) Capital Gains and Losses 6781 Gains and Losses From Section 1256 Contracts and Straddles 8582 Passive Activity Loss Limitations 8824 Like-Kind Exchanges 8949 Sales and Other Dispositions of Capital Assets See chapter 5, How To Get Tax Help , for information about getting these publications and forms. Free tax preparation 2012 What Is a Sale or Trade? This section explains what is a sale or trade. Free tax preparation 2012 It also explains certain transactions and events that are treated as sales or trades. Free tax preparation 2012 A sale is generally a transfer of property for money or a mortgage, note, or other promise to pay money. Free tax preparation 2012 A trade is a transfer of property for other property or services, and may be taxed in the same way as a sale. Free tax preparation 2012 Sale and purchase. Free tax preparation 2012   Ordinarily, a transaction is not a trade when you voluntarily sell property for cash and immediately buy similar property to replace it. Free tax preparation 2012 The sale and purchase are two separate transactions. Free tax preparation 2012 But see Like-Kind Exchanges under Nontaxable Trades, later. Free tax preparation 2012 Redemption of stock. Free tax preparation 2012   A redemption of stock is treated as a sale or trade and is subject to the capital gain or loss provisions unless the redemption is a dividend or other distribution on stock. Free tax preparation 2012 Dividend versus sale or trade. Free tax preparation 2012   Whether a redemption is treated as a sale, trade, dividend, or other distribution depends on the circumstances in each case. Free tax preparation 2012 Both direct and indirect ownership of stock will be considered. Free tax preparation 2012 The redemption is treated as a sale or trade of stock if: The redemption is not essentially equivalent to a dividend — see Dividends and Other Distributions in chapter 1, There is a substantially disproportionate redemption of stock, There is a complete redemption of all the stock of the corporation owned by the shareholder, or The redemption is a distribution in partial liquidation of a corporation. Free tax preparation 2012 Redemption or retirement of bonds. Free tax preparation 2012   A redemption or retirement of bonds or notes at their maturity generally is treated as a sale or trade. Free tax preparation 2012 See Stocks, stock rights, and bonds and Discounted Debt Instruments under Capital or Ordinary Gain or Loss, later. Free tax preparation 2012   In addition, a significant modification of a bond is treated as a trade of the original bond for a new bond. Free tax preparation 2012 For details, see Regulations section 1. Free tax preparation 2012 1001-3. Free tax preparation 2012 Surrender of stock. Free tax preparation 2012   A surrender of stock by a dominant shareholder who retains ownership of more than half of the corporation's voting shares is treated as a contribution to capital rather than as an immediate loss deductible from taxable income. Free tax preparation 2012 The surrendering shareholder must reallocate his or her basis in the surrendered shares to the shares he or she retains. Free tax preparation 2012 Trade of investment property for an annuity. Free tax preparation 2012   The transfer of investment property to a corporation, trust, fund, foundation, or other organization, in exchange for a fixed annuity contract that will make guaranteed annual payments to you for life, is a taxable trade. Free tax preparation 2012 If the present value of the annuity is more than your basis in the property traded, you have a taxable gain in the year of the trade. Free tax preparation 2012 Figure the present value of the annuity according to factors used by commercial insurance companies issuing annuities. Free tax preparation 2012 Transfer by inheritance. Free tax preparation 2012   The transfer of property of a decedent to the executor or administrator of the estate, or to the heirs or beneficiaries, is not a sale or other disposition. Free tax preparation 2012 No taxable gain or deductible loss results from the transfer. Free tax preparation 2012 Termination of certain rights and obligations. Free tax preparation 2012   The cancellation, lapse, expiration, or other termination of a right or obligation (other than a securities futures contract) with respect to property that is a capital asset (or that would be a capital asset if you acquired it) is treated as a sale. Free tax preparation 2012 Any gain or loss is treated as a capital gain or loss. Free tax preparation 2012   This rule does not apply to the retirement of a debt instrument. Free tax preparation 2012 See Redemption or retirement of bonds , earlier. Free tax preparation 2012 Worthless Securities Stocks, stock rights, and bonds (other than those held for sale by a securities dealer) that became completely worthless during the tax year are treated as though they were sold on the last day of the tax year. Free tax preparation 2012 This affects whether your capital loss is long term or short term. Free tax preparation 2012 See Holding Period , later. Free tax preparation 2012 Worthless securities also include securities that you abandon after March 12, 2008. Free tax preparation 2012 To abandon a security, you must permanently surrender and relinquish all rights in the security and receive no consideration in exchange for it. Free tax preparation 2012 All the facts and circumstances determine whether the transaction is properly characterized as an abandonment or other type of transaction, such as an actual sale or exchange, contribution to capital, dividend, or gift. Free tax preparation 2012 If you are a cash basis taxpayer and make payments on a negotiable promissory note that you issued for stock that became worthless, you can deduct these payments as losses in the years you actually make the payments. Free tax preparation 2012 Do not deduct them in the year the stock became worthless. Free tax preparation 2012 How to report loss. Free tax preparation 2012   Report worthless securities in Form 8949, Part I or Part II, whichever applies. Free tax preparation 2012    Report your worthless securities transactions on Form 8949 with the correct box checked for these transactions. Free tax preparation 2012 See Form 8949 and the Instructions for Form 8949. Free tax preparation 2012 Filing a claim for refund. Free tax preparation 2012   If you do not claim a loss for a worthless security on your original return for the year it becomes worthless, you can file a claim for a credit or refund due to the loss. Free tax preparation 2012 You must use Form 1040X, Amended U. Free tax preparation 2012 S. Free tax preparation 2012 Individual Income Tax Return, to amend your return for the year the security became worthless. Free tax preparation 2012 You must file it within 7 years from the date your original return for that year had to be filed, or 2 years from the date you paid the tax, whichever is later. Free tax preparation 2012 (Claims not due to worthless securities or bad debts generally must be filed within 3 years from the date a return is filed, or 2 years from the date the tax is paid, whichever is later. Free tax preparation 2012 ) For more information about filing a claim, see Publication 556. Free tax preparation 2012 Constructive Sales of Appreciated Financial Positions You are treated as having made a constructive sale when you enter into certain transactions involving an appreciated financial position (defined later) in stock, a partnership interest, or certain debt instruments. Free tax preparation 2012 You must recognize gain as if the position were disposed of at its fair market value on the date of the constructive sale. Free tax preparation 2012 This gives you a new holding period for the position that begins on the date of the constructive sale. Free tax preparation 2012 Then, when you close the transaction, you reduce your gain (or increase your loss) by the gain recognized on the constructive sale. Free tax preparation 2012 Constructive sale. Free tax preparation 2012   You are treated as having made a constructive sale of an appreciated financial position if you: Enter into a short sale of the same or substantially identical property, Enter into an offsetting notional principal contract relating to the same or substantially identical property, Enter into a futures or forward contract to deliver the same or substantially identical property (including a forward contract that provides for cash settlement), or Acquire the same or substantially identical property (if the appreciated financial position is a short sale, an offsetting notional principal contract, or a futures or forward contract). Free tax preparation 2012   You are also treated as having made a constructive sale of an appreciated financial position if a person related to you enters into a transaction described above with a view toward avoiding the constructive sale treatment. Free tax preparation 2012 For this purpose, a related person is any related party described under Related Party Transactions , later in this chapter. Free tax preparation 2012 Exception for nonmarketable securities. Free tax preparation 2012   You are not treated as having made a constructive sale solely because you entered into a contract for sale of any stock, debt instrument, or partnership interest that is not a marketable security if it settles within 1 year of the date you enter into it. Free tax preparation 2012 Exception for certain closed transactions. Free tax preparation 2012   Do not treat a transaction as a constructive sale if all of the following are true. Free tax preparation 2012 You closed the transaction on or before the 30th day after the end of your tax year. Free tax preparation 2012 You held the appreciated financial position throughout the 60-day period beginning on the date you closed the transaction. Free tax preparation 2012 Your risk of loss was not reduced at any time during that 60-day period by holding certain other positions. Free tax preparation 2012   If a closed transaction is reestablished in a substantially similar position during the 60-day period beginning on the date the first transaction was closed, this exception still applies if the reestablished position is closed before the 30th day after the end of your tax year in which the first transaction was closed and, after that closing, (2) and (3) above are true. Free tax preparation 2012   This exception also applies to successive short sales of an entire appreciated financial position. Free tax preparation 2012 For more information, see Revenue Ruling 2003-1 in Internal Revenue Bulletin 2003-3. Free tax preparation 2012 This bulletin is available at www. Free tax preparation 2012 irs. Free tax preparation 2012 gov/pub/irs-irbs/irb03-03. Free tax preparation 2012 pdf. Free tax preparation 2012 Appreciated financial position. Free tax preparation 2012   This is any interest in stock, a partnership interest, or a debt instrument (including a futures or forward contract, a short sale, or an option) if disposing of the interest would result in a gain. Free tax preparation 2012 Exceptions. Free tax preparation 2012   An appreciated financial position does not include the following. Free tax preparation 2012 Any position from which all of the appreciation is accounted for under marked-to-market rules, including section 1256 contracts (described later under Section 1256 Contracts Marked to Market ). Free tax preparation 2012 Any position in a debt instrument if: The position unconditionally entitles the holder to receive a specified principal amount, The interest payments (or other similar amounts) with respect to the position are payable at a fixed rate or a variable rate described in Regulations section 1. Free tax preparation 2012 860G-1(a)(3), and The position is not convertible, either directly or indirectly, into stock of the issuer (or any related person). Free tax preparation 2012 Any hedge with respect to a position described in (2). Free tax preparation 2012 Certain trust instruments treated as stock. Free tax preparation 2012   For the constructive sale rules, an interest in an actively traded trust is treated as stock unless substantially all of the value of the property held by the trust is debt that qualifies for the exception to the definition of an appreciated financial position (explained in (2) above). Free tax preparation 2012 Sale of appreciated financial position. Free tax preparation 2012   A transaction treated as a constructive sale of an appreciated financial position is not treated as a constructive sale of any other appreciated financial position, as long as you continue to hold the original position. Free tax preparation 2012 However, if you hold another appreciated financial position and dispose of the original position before closing the transaction that resulted in the constructive sale, you are treated as if, at the same time, you constructively sold the other appreciated financial position. Free tax preparation 2012 Section 1256 Contracts Marked to Market If you hold a section 1256 contract at the end of the tax year, you generally must treat it as sold at its fair market value on the last business day of the tax year. Free tax preparation 2012 Section 1256 Contract A section 1256 contract is any: Regulated futures contract, Foreign currency contract, Nonequity option, Dealer equity option, or Dealer securities futures contract. Free tax preparation 2012 Exceptions. Free tax preparation 2012   A section 1256 contract does not include: Interest rate swaps, Currency swaps, Basis swaps, Interest rate caps, Interest rate floors, Commodity swaps, Equity swaps, Equity index swaps, Credit default swaps, or Similar agreements. Free tax preparation 2012 For more details, including definitions of these terms, see section 1256. Free tax preparation 2012 Regulated futures contract. Free tax preparation 2012   This is a contract that: Provides that amounts which must be deposited to, or can be withdrawn from, your margin account depend on daily market conditions (a system of marking to market), and Is traded on, or subject to the rules of, a qualified board of exchange. Free tax preparation 2012 A qualified board of exchange is a domestic board of trade designated as a contract market by the Commodity Futures Trading Commission, any board of trade or exchange approved by the Secretary of the Treasury, or a national securities exchange registered with the Securities and Exchange Commission. Free tax preparation 2012 Foreign currency contract. Free tax preparation 2012   This is a contract that: Requires delivery of a foreign currency that has positions traded through regulated futures contracts (or settlement of which depends on the value of that type of foreign currency), Is traded in the interbank market, and Is entered into at arm's length at a price determined by reference to the price in the interbank market. Free tax preparation 2012   Bank forward contracts with maturity dates longer than the maturities ordinarily available for regulated futures contracts are considered to meet the definition of a foreign currency contract if the above three conditions are satisfied. Free tax preparation 2012   Special rules apply to certain foreign currency transactions. Free tax preparation 2012 These transactions may result in ordinary gain or loss treatment. Free tax preparation 2012 For details, see Internal Revenue Code section 988 and Regulations sections 1. Free tax preparation 2012 988-1(a)(7) and 1. Free tax preparation 2012 988-3. Free tax preparation 2012 Nonequity option. Free tax preparation 2012   This is any listed option (defined later) that is not an equity option. Free tax preparation 2012 Nonequity options include debt options, commodity futures options, currency options, and broad-based stock index options. Free tax preparation 2012 A broad-based stock index is based on the value of a group of diversified stocks or securities (such as the Standard and Poor's 500 index). Free tax preparation 2012 Warrants based on a stock index that are economically, substantially identical in all material respects to options based on a stock index are treated as options based on a stock index. Free tax preparation 2012 Cash-settled options. Free tax preparation 2012   Cash-settled options based on a stock index and either traded on or subject to the rules of a qualified board of exchange are nonequity options if the Securities and Exchange Commission (SEC) determines that the stock index is broad based. Free tax preparation 2012   This rule does not apply to options established before the SEC determines that the stock index is broad based. Free tax preparation 2012 Listed option. Free tax preparation 2012   This is any option traded on, or subject to the rules of, a qualified board or exchange (as discussed earlier under Regulated futures contract). Free tax preparation 2012 A listed option, however, does not include an option that is a right to acquire stock from the issuer. Free tax preparation 2012 Dealer equity option. Free tax preparation 2012   This is any listed option that, for an options dealer: Is an equity option, Is bought or granted by that dealer in the normal course of the dealer's business activity of dealing in options, and Is listed on the qualified board of exchange where that dealer is registered. Free tax preparation 2012   An “options dealer” is any person registered with an appropriate national securities exchange as a market maker or specialist in listed options. Free tax preparation 2012 Equity option. Free tax preparation 2012   This is any option: To buy or sell stock, or That is valued directly or indirectly by reference to any stock or narrow-based security index. Free tax preparation 2012  Equity options include options on a group of stocks only if the group is a narrow-based stock index. Free tax preparation 2012 Dealer securities futures contract. Free tax preparation 2012   For any dealer in securities futures contracts or options on those contracts, this is a securities futures contract (or option on such a contract) that: Is entered into by the dealer (or, in the case of an option, is purchased or granted by the dealer) in the normal course of the dealer's activity of dealing in this type of contract (or option), and Is traded on a qualified board or exchange (as defined under Regulated futures contract , earlier). Free tax preparation 2012 A securities futures contract that is not a dealer securities futures contract is treated as described later under Securities Futures Contracts . Free tax preparation 2012 Marked-to-Market Rules A section 1256 contract that you hold at the end of the tax year will generally be treated as sold at its fair market value on the last business day of the tax year, and you must recognize any gain or loss that results. Free tax preparation 2012 That gain or loss is taken into account in figuring your gain or loss when you later dispose of the contract, as shown in the example under 60/40 rule, below. Free tax preparation 2012 Hedging exception. Free tax preparation 2012   The marked-to-market rules do not apply to hedging transactions. Free tax preparation 2012 See Hedging Transactions , later. Free tax preparation 2012 60/40 rule. Free tax preparation 2012   Under the marked-to-market system, 60% of your capital gain or loss will be treated as a long-term capital gain or loss, and 40% will be treated as a short-term capital gain or loss. Free tax preparation 2012 This is true regardless of how long you actually held the property. Free tax preparation 2012 Example. Free tax preparation 2012 On June 22, 2012, you bought a regulated futures contract for $50,000. Free tax preparation 2012 On December 31, 2012 (the last business day of your tax year), the fair market value of the contract was $57,000. Free tax preparation 2012 You recognized a $7,000 gain on your 2012 tax return, treated as 60% long-term and 40% short-term capital gain. Free tax preparation 2012 On February 1, 2013, you sold the contract for $56,000. Free tax preparation 2012 Because you recognized a $7,000 gain on your 2012 return, you recognize a $1,000 loss ($57,000 − $56,000) on your 2013 tax return, treated as 60% long-term and 40% short-term capital loss. Free tax preparation 2012 Limited partners or entrepreneurs. Free tax preparation 2012   The 60/40 rule does not apply to dealer equity options or dealer securities futures contracts that result in capital gain or loss allocable to limited partners or limited entrepreneurs (defined later under Hedging Transactions ). Free tax preparation 2012 Instead, these gains or losses are treated as short term. Free tax preparation 2012 Terminations and transfers. Free tax preparation 2012   The marked-to-market rules also apply if your obligation or rights under section 1256 contracts are terminated or transferred during the tax year. Free tax preparation 2012 In this case, use the fair market value of each section 1256 contract at the time of termination or transfer to determine the gain or loss. Free tax preparation 2012 Terminations or transfers may result from any offsetting, delivery, exercise, assignment, or lapse of your obligation or rights under section 1256 contracts. Free tax preparation 2012 Loss carryback election. Free tax preparation 2012   An individual having a net section 1256 contracts loss (defined later), generally can elect to carry this loss back 3 years instead of carrying it over to the next year. Free tax preparation 2012 See How To Report , later, for information about reporting this election on your return. Free tax preparation 2012   The loss carried back to any year under this election cannot be more than the net section 1256 contracts gain in that year. Free tax preparation 2012 In addition, the amount of loss carried back to an earlier tax year cannot increase or produce a net operating loss for that year. Free tax preparation 2012   The loss is carried to the earliest carryback year first, and any unabsorbed loss amount can then be carried to each of the next 2 tax years. Free tax preparation 2012 In each carryback year, treat 60% of the carryback amount as a long-term capital loss and 40% as a short-term capital loss from section 1256 contracts. Free tax preparation 2012   If only a portion of the net section 1256 contracts loss is absorbed by carrying the loss back, the unabsorbed portion can be carried forward, under the capital loss carryover rules, to the year following the loss. Free tax preparation 2012 (See Capital Losses under Reporting Capital Gains and Losses, later. Free tax preparation 2012 ) Figure your capital loss carryover as if, for the loss year, you had an additional short-term capital gain of 40% of the amount of net section 1256 contracts loss absorbed in the carryback years and an additional long-term capital gain of 60% of the absorbed loss. Free tax preparation 2012 In the carryover year, treat any capital loss carryover from losses on section 1256 contracts as if it were a loss from section 1256 contracts for that year. Free tax preparation 2012 Net section 1256 contracts loss. Free tax preparation 2012   This loss is the lesser of: The net capital loss for your tax year determined by taking into account only the gains and losses from section 1256 contracts, or The capital loss carryover to the next tax year determined without this election. Free tax preparation 2012 Net section 1256 contracts gain. Free tax preparation 2012   This gain is the lesser of: The capital gain net income for the carryback year determined by taking into account only gains and losses from section 1256 contracts, or The capital gain net income for that year. Free tax preparation 2012  Figure your net section 1256 contracts gain for any carryback year without regard to the net section 1256 contracts loss for the loss year or any later tax year. Free tax preparation 2012 Traders in section 1256 contracts. Free tax preparation 2012   Gain or loss from the trading of section 1256 contracts is capital gain or loss subject to the marked-to-market rules. Free tax preparation 2012 However, this does not apply to contracts held for purposes of hedging property if any loss from the property would be an ordinary loss. Free tax preparation 2012 Treatment of underlying property. Free tax preparation 2012   The determination of whether an individual's gain or loss from any property is ordinary or capital gain or loss is made without regard to the fact that the individual is actively engaged in dealing in or trading section 1256 contracts related to that property. Free tax preparation 2012 How To Report If you disposed of regulated futures or foreign currency contracts in 2013 (or had unrealized profit or loss on these contracts that were open at the end of 2012 or 2013), you should receive Form 1099-B, or substitute statement, from your broker. Free tax preparation 2012 Form 6781. Free tax preparation 2012   Use Part I of Form 6781 to report your gains and losses from all section 1256 contracts that are open at the end of the year or that were closed out during the year. Free tax preparation 2012 This includes the amount shown in box 10 of Form 1099-B. Free tax preparation 2012 Then enter the net amount of these gains and losses on Schedule D (Form 1040), line 4 or line 11, as appropriate. Free tax preparation 2012 Include a copy of Form 6781 with your income tax return. Free tax preparation 2012   If the Form 1099-B you receive includes a straddle or hedging transaction, defined later, it may be necessary to show certain adjustments on Form 6781. Free tax preparation 2012 Follow the Form 6781 instructions for completing Part I. Free tax preparation 2012 Loss carryback election. Free tax preparation 2012   To carry back your loss under the election procedures described earlier, file Form 1040X or Form 1045, Application for Tentative Refund, for the year to which you are carrying the loss with an amended Form 6781 and an amended Schedule D (Form 1040) attached. Free tax preparation 2012 Follow the instructions for completing Form 6781 for the loss year to make this election. Free tax preparation 2012 Hedging Transactions The marked-to-market rules, described earlier, do not apply to hedging transactions. Free tax preparation 2012 A transaction is a hedging transaction if both of the following conditions are met. Free tax preparation 2012 You entered into the transaction in the normal course of your trade or business primarily to manage the risk of: Price changes or currency fluctuations on ordinary property you hold (or will hold), or Interest rate or price changes, or currency fluctuations, on your current or future borrowings or ordinary obligations. Free tax preparation 2012 You clearly identified the transaction as being a hedging transaction before the close of the day on which you entered into it. Free tax preparation 2012 This hedging transaction exception does not apply to transactions entered into by or for any syndicate. Free tax preparation 2012 A syndicate is a partnership, S corporation, or other entity (other than a regular corporation) that allocates more than 35% of its losses to limited partners or limited entrepreneurs. Free tax preparation 2012 A limited entrepreneur is a person who has an interest in an enterprise (but not as a limited partner) and who does not actively participate in its management. Free tax preparation 2012 However, an interest is not considered held by a limited partner or entrepreneur if the interest holder actively participates (or did so for at least 5 full years) in the management of the entity, or is the spouse, child (including a legally adopted child), grandchild, or parent of an individual who actively participates in the management of the entity. Free tax preparation 2012 Hedging loss limit. Free tax preparation 2012   If you are a limited partner or entrepreneur in a syndicate, the amount of a hedging loss you can claim is limited. Free tax preparation 2012 A “hedging loss” is the amount by which the allowable deductions in a tax year that resulted from a hedging transaction (determined without regard to the limit) are more than the income received or accrued during the tax year from this transaction. Free tax preparation 2012   Any hedging loss allocated to you for the tax year is limited to your taxable income for that year from the trade or business in which the hedging transaction occurred. Free tax preparation 2012 Ignore any hedging transaction items in determining this taxable income. Free tax preparation 2012 If you have a hedging loss that is disallowed because of this limit, you can carry it over to the next tax year as a deduction resulting from a hedging transaction. Free tax preparation 2012   If the hedging transaction relates to property other than stock or securities, the limit on hedging losses applies if the limited partner or entrepreneur is an individual. Free tax preparation 2012   The limit on hedging losses does not apply to any hedging loss to the extent that it is more than all your unrecognized gains from hedging transactions at the end of the tax year that are from the trade or business in which the hedging transaction occurred. Free tax preparation 2012 The term “unrecognized gain” has the same meaning as defined under Loss Deferral Rules in Straddles, later. Free tax preparation 2012 Sale of property used in a hedge. Free tax preparation 2012   Once you identify personal property as being part of a hedging transaction, you must treat gain from its sale or exchange as ordinary income, not capital gain. Free tax preparation 2012 Self-Employment Income Gains and losses derived in the ordinary course of a commodity or option dealer's trading in section 1256 contracts and property related to these contracts are included in net earnings from self-employment. Free tax preparation 2012 See the Instructions for Schedule SE (Form 1040). Free tax preparation 2012 In addition, the rules relating to contributions to self-employment retirement plans apply. Free tax preparation 2012 For information on retirement plan contributions, see Publication 560 and Publication 590. Free tax preparation 2012 Basis of Investment Property Basis is a way of measuring your investment in property for tax purposes. Free tax preparation 2012 You must know the basis of your property to determine whether you have a gain or loss on its sale or other disposition. Free tax preparation 2012 Investment property you buy normally has an original basis equal to its cost. Free tax preparation 2012 If you get property in some way other than buying it, such as by gift or inheritance, its fair market value may be important in figuring the basis. Free tax preparation 2012 Cost Basis The basis of property you buy is usually its cost. Free tax preparation 2012 The cost is the amount you pay in cash, debt obligations, or other property or services. Free tax preparation 2012 Unstated interest. Free tax preparation 2012   If you buy property on a time-payment plan that charges little or no interest, the basis of your property is your stated purchase price, minus the amount considered to be unstated interest. Free tax preparation 2012 You generally have unstated interest if your interest rate is less than the applicable federal rate. Free tax preparation 2012 For more information, see Unstated Interest and Original Issue Discount (OID) in Publication 537. Free tax preparation 2012 Basis Other Than Cost There are times when you must use a basis other than cost. Free tax preparation 2012 In these cases, you may need to know the property's fair market value or the adjusted basis of the previous owner. Free tax preparation 2012 Fair market value. Free tax preparation 2012   This is the price at which the property would change hands between a buyer and a seller, neither being forced to buy or sell and both having reasonable knowledge of all the relevant facts. Free tax preparation 2012 Sales of similar property, around the same date, may be helpful in figuring fair market value. Free tax preparation 2012 Property Received for Services If you receive investment property for services, you must include the property's fair market value in income. Free tax preparation 2012 The amount you include in income then becomes your basis in the property. Free tax preparation 2012 If the services were performed for a price that was agreed to beforehand, this price will be accepted as the fair market value of the property if there is no evidence to the contrary. Free tax preparation 2012 Restricted property. Free tax preparation 2012   If you receive, as payment for services, property that is subject to certain restrictions, your basis in the property generally is its fair market value when it becomes substantially vested. Free tax preparation 2012 Property becomes substantially vested when it is transferable or is no longer subject to substantial risk of forfeiture, whichever happens first. Free tax preparation 2012 See Restricted Property in Publication 525 for more information. Free tax preparation 2012 Bargain purchases. Free tax preparation 2012   If you buy investment property at less than fair market value, as payment for services, you must include the difference in income. Free tax preparation 2012 Your basis in the property is the price you pay plus the amount you include in income. Free tax preparation 2012 Property Received in Taxable Trades If you received investment property in trade for other property, the basis of the new property is its fair market value at the time of the trade unless you received the property in a nontaxable trade. Free tax preparation 2012 Example. Free tax preparation 2012 You trade A Company stock for B Company stock having a fair market value of $1,200. Free tax preparation 2012 If the adjusted basis of the A Company stock is less than $1,200, you have a taxable gain on the trade. Free tax preparation 2012 If the adjusted basis of the A Company stock is more than $1,200, you have a deductible loss on the trade. Free tax preparation 2012 The basis of your B Company stock is $1,200. Free tax preparation 2012 If you later sell the B Company stock for $1,300, you will have a gain of $100. Free tax preparation 2012 Property Received in Nontaxable Trades If you have a nontaxable trade, you do not recognize gain or loss until you dispose of the property you received in the trade. Free tax preparation 2012 See Nontaxable Trades , later. Free tax preparation 2012 The basis of property you received in a nontaxable or partly nontaxable trade is generally the same as the adjusted basis of the property you gave up. Free tax preparation 2012 Increase this amount by any cash you paid, additional costs you had, and any gain recognized. Free tax preparation 2012 Reduce this amount by any cash or unlike property you received, any loss recognized, and any liability of yours that was assumed or treated as assumed. Free tax preparation 2012 Property Received From Your Spouse If property is transferred to you from your spouse (or former spouse, if the transfer is incident to your divorce), your basis is the same as your spouse's or former spouse's adjusted basis just before the transfer. Free tax preparation 2012 See Transfers Between Spouses , later. Free tax preparation 2012 Recordkeeping. Free tax preparation 2012 The transferor must give you the records necessary to determine the adjusted basis and holding period of the property as of the date of the transfer. Free tax preparation 2012 Property Received as a Gift To figure your basis in property that you received as a gift, you must know its adjusted basis to the donor just before it was given to you, its fair market value at the time it was given to you, the amount of any gift tax paid on it, and the date it was given to you. Free tax preparation 2012 Fair market value less than donor's adjusted basis. Free tax preparation 2012   If the fair market value of the property at the time of the gift was less than the donor's adjusted basis just before the gift, your basis for gain on its sale or other disposition is the same as the donor's adjusted basis plus or minus any required adjustments to basis during the period you hold the property. Free tax preparation 2012 Your basis for loss is its fair market value at the time of the gift plus or minus any required adjustments to basis during the period you hold the property. Free tax preparation 2012 No gain or loss. Free tax preparation 2012   If you use the basis for figuring a gain and the result is a loss, and then use the basis for figuring a loss and the result is a gain, you will have neither a gain nor a loss. Free tax preparation 2012 Example. Free tax preparation 2012 You receive a gift of investment property having an adjusted basis of $10,000 at the time of the gift. Free tax preparation 2012 The fair market value at the time of the gift is $9,000. Free tax preparation 2012 You later sell the property for $9,500. Free tax preparation 2012 You have neither gain nor loss. Free tax preparation 2012 Your basis for figuring gain is $10,000, and $9,500 minus $10,000 results in a $500 loss. Free tax preparation 2012 Your basis for figuring loss is $9,000, and $9,500 minus $9,000 results in a $500 gain. Free tax preparation 2012 Fair market value equal to or more than donor's adjusted basis. Free tax preparation 2012   If the fair market value of the property at the time of the gift was equal to or more than the donor's adjusted basis just before the gift, your basis for gain or loss on its sale or other disposition is the donor's adjusted basis plus or minus any required adjustments to basis during the period you hold the property. Free tax preparation 2012 Also, you may be allowed to add to the donor's adjusted basis all or part of any gift tax paid, depending on the date of the gift. Free tax preparation 2012 Gift received before 1977. Free tax preparation 2012   If you received property as a gift before 1977, your basis in the property is the donor's adjusted basis increased by the total gift tax paid on the gift. Free tax preparation 2012 However, your basis cannot be more than the fair market value of the gift at the time it was given to you. Free tax preparation 2012 Example 1. Free tax preparation 2012 You were given XYZ Company stock in 1976. Free tax preparation 2012 At the time of the gift, the stock had a fair market value of $21,000. Free tax preparation 2012 The donor's adjusted basis was $20,000. Free tax preparation 2012 The donor paid a gift tax of $500 on the gift. Free tax preparation 2012 Your basis for gain or loss is $20,500, the donor's adjusted basis plus the amount of gift tax paid. Free tax preparation 2012 Example 2. Free tax preparation 2012 The facts are the same as in Example 1 except that the gift tax paid was $1,500. Free tax preparation 2012 Your basis is $21,000, the donor's adjusted basis plus the gift tax paid, but limited to the fair market value of the stock at the time of the gift. Free tax preparation 2012 Gift received after 1976. Free tax preparation 2012   If you received property as a gift after 1976, your basis is the donor's adjusted basis increased by the part of the gift tax paid that was for the net increase in value of the gift. Free tax preparation 2012 You figure this part by multiplying the gift tax paid on the gift by a fraction. Free tax preparation 2012 The numerator (top part) is the net increase in value of the gift and the denominator (bottom part) is the amount of the gift. Free tax preparation 2012   The net increase in value of the gift is the fair market value of the gift minus the donor's adjusted basis. Free tax preparation 2012 The amount of the gift is its value for gift tax purposes after reduction by any annual exclusion and marital or charitable deduction that applies to the gift. Free tax preparation 2012 Example. Free tax preparation 2012 In 2013, you received a gift of property from your mother. Free tax preparation 2012 At the time of the gift, the property had a fair market value of $101,000 and an adjusted basis to her of $40,000. Free tax preparation 2012 The amount of the gift for gift tax purposes was $87,000 ($101,000 minus the $14,000 annual exclusion), and your mother paid a gift tax of $21,000. Free tax preparation 2012 You figure your basis in the following way: Fair market value $101,000 Minus: Adjusted basis 40,000 Net increase in value of gift $61,000 Gift tax paid $21,000 Multiplied by . Free tax preparation 2012 701 ($61,000 ÷ $87,000) . Free tax preparation 2012 701 Gift tax due to net increase in value $14,721 Plus: Adjusted basis of property to  your mother 40,000 Your basis in the property $54,721 Part sale, part gift. Free tax preparation 2012   If you get property in a transfer that is partly a sale and partly a gift, your basis is the larger of the amount you paid for the property or the transferor's adjusted basis in the property at the time of the transfer. Free tax preparation 2012 Add to that amount the amount of any gift tax paid on the gift, as described in the preceding discussion. Free tax preparation 2012 For figuring loss, your basis is limited to the property's fair market value at the time of the transfer. Free tax preparation 2012 Gift tax information. Free tax preparation 2012   For information on gift tax, see Publication 950, Introduction to Estate and Gift Taxes. Free tax preparation 2012 For information on figuring the amount of gift tax to add to your basis, see Property Received as a Gift in Publication 551. Free tax preparation 2012 Property Received as Inheritance Before or after 2010. Free tax preparation 2012   If you inherited property from a decedent who died before or after 2010, or who died in 2010 and the executor of the decedent's estate elected not to file Form 8939, Allocation of Increase in Basis for Property Acquired From a Decedent, your basis in that property generally is its fair market value (its appraised value on Form 706, United States Estate (and Generation-Skipping Transfer) Tax Return) on: The date of the decedent's death, or The later alternate valuation date if the estate qualifies for, and elects to use, alternate valuation. Free tax preparation 2012 If no Form 706 was filed, use the appraised value on the date of death for state inheritance or transmission taxes. Free tax preparation 2012 For stocks and bonds, if no Form 706 was filed and there are no state inheritance or transmission taxes, see the Form 706 instructions for figuring the fair market value of the stocks and bonds on the date of the decedent's death. Free tax preparation 2012 Appreciated property you gave the decedent. Free tax preparation 2012   Your basis in certain appreciated property that you inherited is the decedent's adjusted basis in the property immediately before death rather than its fair market value. Free tax preparation 2012 This applies to appreciated property that you or your spouse gave the decedent as a gift during the 1-year period ending on the date of death. Free tax preparation 2012 Appreciated property is any property whose fair market value on the day you gave it to the decedent was more than its adjusted basis. Free tax preparation 2012 More information. Free tax preparation 2012   See Publication 551 for more information on the basis of inherited property, including community property, property held by a surviving tenant in a joint tenancy or tenancy by the entirety, a qualified joint interest, and a farm or closely held business. Free tax preparation 2012 Inherited in 2010 and executor elected to file Form 8939. Free tax preparation 2012   If you inherited property from a decedent who died in 2010 and the executor made the election to file Form 8939, see Publication 4895, Tax Treatment of Property Acquired From a Decedent Dying in 2010, to figure your basis. Free tax preparation 2012 Adjusted Basis Before you can figure any gain or loss on a sale, exchange, or other disposition of property or figure allowable depreciation, depletion, or amortization, you usually must make certain adjustments (increases and decreases) to the basis of the property. Free tax preparation 2012 The result of these adjustments to the basis is the adjusted basis. Free tax preparation 2012 Adjustments to the basis of stocks and bonds are explained in the following discussion. Free tax preparation 2012 For information about other adjustments to basis, see Publication 551. Free tax preparation 2012 Stocks and Bonds The basis of stocks or bonds you own generally is the purchase price plus the costs of purchase, such as commissions and recording or transfer fees. Free tax preparation 2012 If you acquired stock or bonds other than by purchase, your basis is usually determined by fair market value or the previous owner's adjusted basis as discussed earlier under Basis Other Than Cost . Free tax preparation 2012 The basis of stock must be adjusted for certain events that occur after purchase. Free tax preparation 2012 For example, if you receive more stock from nontaxable stock dividends or stock splits, you must reduce the basis of your original stock. Free tax preparation 2012 You must also reduce your basis when you receive nondividend distributions (discussed in chapter 1). Free tax preparation 2012 These distributions, up to the amount of your basis, are a nontaxable return of capital. Free tax preparation 2012 The IRS partners with companies that offer Form 8949 and Schedule D (Form 1040) software that can import trades from many brokerage firms and accounting software to help you keep track of your adjusted basis in securities. Free tax preparation 2012 To find out more, go to www. Free tax preparation 2012 irs. Free tax preparation 2012 gov/Filing/Filing-Options. Free tax preparation 2012 Identifying stock or bonds sold. Free tax preparation 2012   If you can adequately identify the shares of stock or the bonds you sold, their basis is the cost or other basis of the particular shares of stock or bonds. Free tax preparation 2012 Adequate identification. Free tax preparation 2012   You will make an adequate identification if you show that certificates representing shares of stock from a lot that you bought on a certain date or for a certain price were delivered to your broker or other agent. Free tax preparation 2012 Broker holds stock. Free tax preparation 2012   If you have left the stock certificates with your broker or other agent, you will make an adequate identification if you: Tell your broker or other agent the particular stock to be sold or transferred at the time of the sale or transfer, and Receive a written confirmation of this from your broker or other agent within a reasonable time. Free tax preparation 2012  Stock identified this way is the stock sold or transferred even if stock certificates from a different lot are delivered to the broker or other agent. Free tax preparation 2012 Single stock certificate. Free tax preparation 2012   If you bought stock in different lots at different times and you hold a single stock certificate for this stock, you will make an adequate identification if you: Tell your broker or other agent the particular stock to be sold or transferred when you deliver the certificate to your broker or other agent, and Receive a written confirmation of this from your broker or other agent within a reasonable time. Free tax preparation 2012   If you sell part of the stock represented by a single certificate directly to the buyer instead of through a broker, you will make an adequate identification if you keep a written record of the particular stock that you intend to sell. Free tax preparation 2012 Bonds. Free tax preparation 2012   These methods of identification also apply to bonds sold or transferred. Free tax preparation 2012 Identification not possible. Free tax preparation 2012   If you buy and sell securities at various times in varying quantities and you cannot adequately identify the shares you sell, the basis of the securities you sell is the basis of the securities you acquired first. Free tax preparation 2012 Except for certain mutual fund shares, discussed later, you cannot use the average price per share to figure gain or loss on the sale of the shares. Free tax preparation 2012 Example. Free tax preparation 2012 You bought 100 shares of stock of XYZ Corporation in 1998 for $10 a share. Free tax preparation 2012 In January 1999 you bought another 200 shares for $11 a share. Free tax preparation 2012 In July 1999 you gave your son 50 shares. Free tax preparation 2012 In December 2001 you bought 100 shares for $9 a share. Free tax preparation 2012 In April 2013 you sold 130 shares. Free tax preparation 2012 You cannot identify the shares you disposed of, so you must use the stock you acquired first to figure the basis. Free tax preparation 2012 The shares of stock you gave your son had a basis of $500 (50 × $10). Free tax preparation 2012 You figure the basis of the 130 shares of stock you sold in 2013 as follows: 50 shares (50 × $10) balance of stock bought in 1998 $ 500 80 shares (80 × $11) stock bought in January 1999 880 Total basis of stock sold in 2013 $1,380 Shares in a mutual fund or REIT. Free tax preparation 2012    The basis of shares in a mutual fund (or other regulated investment company) or a real estate investment trust (REIT) is generally figured in the same way as the basis of other stock and usually includes any commissions or load charges paid for the purchase. Free tax preparation 2012 Example. Free tax preparation 2012 You bought 100 shares of Fund A for $10 a share. Free tax preparation 2012 You paid a $50 commission to the broker for the purchase. Free tax preparation 2012 Your cost basis for each share is $10. Free tax preparation 2012 50 ($1,050 ÷ 100). Free tax preparation 2012 Commissions and load charges. Free tax preparation 2012   The fees and charges you pay to acquire or redeem shares of a mutual fund are not deductible. Free tax preparation 2012 You can usually add acquisition fees and charges to your cost of the shares and thereby increase your basis. Free tax preparation 2012 A fee paid to redeem the shares is usually a reduction in the redemption price (sales price). Free tax preparation 2012   You cannot add your entire acquisition fee or load charge to the cost of the mutual fund shares acquired if all of the following conditions apply. Free tax preparation 2012 You get a reinvestment right because of the purchase of the shares or the payment of the fee or charge. Free tax preparation 2012 You dispose of the shares within 90 days of the purchase date. Free tax preparation 2012 You acquire new shares in the same mutual fund or another mutual fund, for which the fee or charge is reduced or waived because of the reinvestment right you got when you acquired the original shares. Free tax preparation 2012   The amount of the original fee or charge in excess of the reduction in (3) is added to the cost of the original shares. Free tax preparation 2012 The rest of the original fee or charge is added to the cost basis of the new shares (unless all three conditions above also apply to the purchase of the new shares). Free tax preparation 2012 Choosing average basis for mutual fund shares. Free tax preparation 2012   You can choose to use the average basis of mutual fund shares if you acquired the identical shares at various times and prices, or you acquired the shares after 2010 in connection with a dividend reinvestment plan, and left them on deposit in an account kept by a custodian or agent. Free tax preparation 2012 The methods you can use to figure average basis are explained later. Free tax preparation 2012 Undistributed capital gains. Free tax preparation 2012   If you had to include in your income any undistributed capital gains of the mutual fund or REIT, increase your basis in the stock by the difference between the amount you included and the amount of tax paid for you by the fund or REIT. Free tax preparation 2012 See Undistributed capital gains of mutual funds and REITs under Capital Gain Distributions in chapter 1. Free tax preparation 2012 Reinvestment right. Free tax preparation 2012   This is the right to acquire mutual fund shares in the same or another mutual fund without paying a fee or load charge, or by paying a reduced fee or load charge. Free tax preparation 2012      The original cost basis of mutual fund shares you acquire by reinvesting your distributions is the amount of the distributions used to purchase each full or fractional share. Free tax preparation 2012 This rule applies even if the distribution is an exempt-interest dividend that you do not report as income. Free tax preparation 2012 Table 4-1. Free tax preparation 2012 This is a worksheet you can use to keep track of the adjusted basis of your mutual fund shares. Free tax preparation 2012 Enter the cost per share when you acquire new shares and any adjustments to their basis when the adjustment occurs. Free tax preparation 2012 This worksheet will help you figure the adjusted basis when you sell or redeem shares. Free tax preparation 2012 Table 4-1. Free tax preparation 2012 Mutual Fund Record Mutual Fund Acquired1 Adjustment to Basis Per Share Adjusted2 Basis Per Share Sold or redeemed Date Number of Shares Cost Per Share Date Number of Shares                                                                                                                                                                                                                                                                         1 Include share received from reinvestment of distributions. Free tax preparation 2012 2 Cost plus or minus adjustments. Free tax preparation 2012 Automatic investment service. Free tax preparation 2012   If you participate in an automatic investment service, your basis for each share of stock, including fractional shares, bought by the bank or other agent is the purchase price plus a share of the broker's commission. Free tax preparation 2012 Dividend reinvestment plans. Free tax preparation 2012   If you participate in a dividend reinvestment plan and receive stock from the corporation at a discount, your basis is the full fair market value of the stock on the dividend payment date. Free tax preparation 2012 You must include the amount of the discount in your income. Free tax preparation 2012 Public utilities. Free tax preparation 2012   If, before 1986, you excluded from income the value of stock you had received under a qualified public utility reinvestment plan, your basis in that stock is zero. Free tax preparation 2012 Stock dividends. Free tax preparation 2012   Stock dividends are distributions made by a corporation of its own stock. Free tax preparation 2012 Generally, stock dividends are not taxable to you. Free tax preparation 2012 However, see Distributions of Stock and Stock Rights under Dividends and Other Distributions in chapter 1 for some exceptions. Free tax preparation 2012 If the stock dividends are not taxable, you must divide your basis for the old stock between the old and new stock. Free tax preparation 2012 New and old stock identical. Free tax preparation 2012   If the new stock you received as a nontaxable dividend is identical to the old stock on which the dividend was declared, divide the adjusted basis of the old stock by the number of shares of old and new stock. Free tax preparation 2012 The result is your basis for each share of stock. Free tax preparation 2012 Example 1. Free tax preparation 2012 You owned one share of common stock that you bought for $45. Free tax preparation 2012 The corporation distributed two new shares of common stock for each share held. Free tax preparation 2012 You then had three shares of common stock. Free tax preparation 2012 Your basis in each share is $15 ($45 ÷ 3). Free tax preparation 2012 Example 2. Free tax preparation 2012 You owned two shares of common stock. Free tax preparation 2012 You bought one for $30 and the other for $45. Free tax preparation 2012 The corporation distributed two new shares of common stock for each share held. Free tax preparation 2012 You had six shares after the distribution—three with a basis of $10 each ($30 ÷ 3) and three with a basis of $15 each ($45 ÷ 3). Free tax preparation 2012 New and old stock not identical. Free tax preparation 2012   If the new stock you received as a nontaxable dividend is not identical to the old stock on which it was declared, the basis of the new stock is calculated differently. Free tax preparation 2012 Divide the adjusted basis of the old stock between the old and the new stock in the ratio of the fair market value of each lot of stock to the total fair market value of both lots on the date of distribution of the new stock. Free tax preparation 2012 Example. Free tax preparation 2012 You bought a share of common stock for $100. Free tax preparation 2012 Later, the corporation distributed a share of preferred stock for each share of common stock held. Free tax preparation 2012 At the date of distribution, your common stock had a fair market value of $150 and the preferred stock had a fair market value of $50. Free tax preparation 2012 You figure the basis of the old and new stock by dividing your $100 basis between them. Free tax preparation 2012 The basis of your common stock is $75 (($150 ÷ $200) × $100), and the basis of the new preferred stock is $25 (($50 ÷ $200) × $100). Free tax preparation 2012 Stock bought at various times. Free tax preparation 2012   Figure the basis of stock dividends received on stock you bought at various times and at different prices by allocating to each lot of stock the share of the stock dividends due to it. Free tax preparation 2012 Taxable stock dividends. Free tax preparation 2012   If your stock dividend is taxable when you receive it, the basis of your new stock is its fair market value on the date of distribution. Free tax preparation 2012 The basis of your old stock does not change. Free tax preparation 2012 Stock splits. Free tax preparation 2012   Figure the basis of stock splits in the same way as stock dividends if identical stock is distributed on the stock held. Free tax preparation 2012 Stock rights. Free tax preparation 2012   A stock right is a right to acquire a corporation's stock. Free tax preparation 2012 It may be exercised, it may be sold if it has a market value, or it may expire. Free tax preparation 2012 Stock rights are rarely taxable when you receive them. Free tax preparation 2012 See Distributions of Stock and Stock Rights under Dividends and Other Distributions in chapter 1. Free tax preparation 2012 Taxable stock rights. Free tax preparation 2012   If you receive stock rights that are taxable, the basis of the rights is their fair market value at the time of distribution. Free tax preparation 2012 The basis of the old stock does not change. Free tax preparation 2012 Nontaxable stock rights. Free tax preparation 2012   If you receive nontaxable stock rights and allow them to expire, they have no basis. Free tax preparation 2012   If you exercise or sell the nontaxable stock rights and if, at the time of distribution, the stock rights had a fair market value of 15% or more of the fair market value of the old stock, you must divide the adjusted basis of the old stock between the old stock and the stock rights. Free tax preparation 2012 Use a ratio of the fair market value of each to the total fair market value of both at the time of distribution. Free tax preparation 2012   If the fair market value of the stock rights was less than 15%, their basis is zero. Free tax preparation 2012 However, you can choose to divide the basis of the old stock between the old stock and the stock rights. Free tax preparation 2012 To make the choice, attach a statement to your return for the year in which you received the rights, stating that you choose to divide the basis of the stock. Free tax preparation 2012 Basis of new stock. Free tax preparation 2012   If you exercise the stock rights, the basis of the new stock is its cost plus the basis of the stock rights exercised. Free tax preparation 2012 Example. Free tax preparation 2012 You own 100 shares of ABC Company stock, which cost you $22 per share. Free tax preparation 2012 The ABC Company gave you 10 nontaxable stock rights that would allow you to buy 10 more shares at $26 per share. Free tax preparation 2012 At the time the stock rights were distributed, the stock had a market value of $30, not including the stock rights. Free tax preparation 2012 Each stock right had a market value of $3. Free tax preparation 2012 The market value of the stock rights was less than 15% of the market value of the stock, but you chose to divide the basis of your stock between the stock and the rights. Free tax preparation 2012 You figure the basis of the rights and the basis of the old stock as follows: 100 shares × $22 = $2,200, basis of old stock   100 shares × $30 = $3,000, market value of old stock   10 rights × $3 = $30, market value of rights   ($3,000 ÷ $3,030) × $2,200 = $2,178. Free tax preparation 2012 22, new basis of old stock   ($30 ÷ $3,030) × $2,200 = $21. Free tax preparation 2012 78, basis of rights   If you sell the rights, the basis for figuring gain or loss is $2. Free tax preparation 2012 18 ($21. Free tax preparation 2012 78 ÷ 10) per right. Free tax preparation 2012 If you exercise the rights, the basis of the stock you acquire is the price you pay ($26) plus the basis of the right exercised ($2. Free tax preparation 2012 18), or $28. Free tax preparation 2012 18 per share. Free tax preparation 2012 The remaining basis of the old stock is $21. Free tax preparation 2012 78 per share. Free tax preparation 2012 Investment property received in liquidation. Free tax preparation 2012   In general, if you receive investment property as a distribution in partial or complete liquidation of a corporation and if you recognize gain or loss when you acquire the property, your basis in the property is its fair market value at the time of the distribution. Free tax preparation 2012 S corporation stock. Free tax preparation 2012   You must increase your basis in stock of an S corporation by your pro rata share of the following items. Free tax preparation 2012 All income items of the S corporation, including tax-exempt income, that are separately stated and passed through to you as a shareholder. Free tax preparation 2012 The nonseparately stated income of the S corporation. Free tax preparation 2012 The amount of the deduction for depletion (other than oil and gas depletion) that is more than the basis of the property being depleted. Free tax preparation 2012   You must decrease your basis in stock of an S corporation by your pro rata share of the following items. Free tax preparation 2012 Distributions by the S corporation that were not included in your income. Free tax preparation 2012 All loss and deduction items of the S corporation that are separately stated and passed through to you. Free tax preparation 2012 Any nonseparately stated loss of the S corporation. Free tax preparation 2012 Any expense of the S corporation that is not deductible in figuring its taxable income and not properly chargeable to a capital account. Free tax preparation 2012 The amount of your deduction for depletion of oil and gas wells to the extent the deduction is not more than your share of the adjusted basis of the wells. Free tax preparation 2012 However, your basis in the stock cannot be reduced below zero. Free tax preparation 2012 Specialized small business investment company stock or partnership interest. Free tax preparation 2012   If you bought this stock or interest as replacement property for publicly traded securities you sold at a gain, you must reduce the basis of the stock or interest by the amount of any postponed gain on that sale. Free tax preparation 2012 See Rollover of Gain From Publicly Traded Securities , later. Free tax preparation 2012 Qualified small business stock. Free tax preparation 2012   If you bought this stock as replacement property for other qualified small business stock you sold at a gain, you must reduce the basis of this replacement stock by the amount of any postponed gain on the earlier sale. Free tax preparation 2012 See Gains on Qualified Small Business Stock , later. Free tax preparation 2012 Short sales. Free tax preparation 2012   If you cannot deduct payments you make to a lender in lieu of dividends on stock used in a short sale, the amount you pay to the lender is a capital expense, and you must add it to the basis of the stock used to close the short sale. Free tax preparation 2012   See Payments in lieu of dividends , later, for information about deducting payments in lieu of dividends. Free tax preparation 2012 Premiums on bonds. Free tax preparation 2012   If you buy a bond at a premium, the premium is treated as part of your basis in the bond. Free tax preparation 2012 If you choose to amortize the premium paid on a taxable bond, you must reduce the basis of the bond by the amortized part of the premium each year over the life of the bond. Free tax preparation 2012   Although you cannot deduct the premium on a tax-exempt bond, you must amortize it to determine your adjusted basis in the bond. Free tax preparation 2012 You must reduce the basis of the bond by the premium you amortized for the period you held the bond. Free tax preparation 2012   See Bond Premium Amortization in chapter 3 for more information. Free tax preparation 2012 Market discount on bonds. Free tax preparation 2012   If you include market discount on a bond in income currently, increase the basis of your bond by the amount of market discount you include in your income. Free tax preparation 2012 See Market Discount Bonds in chapter 1 for more information. Free tax preparation 2012 Bonds purchased at par value. Free tax preparation 2012   A bond purchased at par value (face amount) has no premium or discount. Free tax preparation 2012 When you sell or otherwise dispose of the bond, you figure the gain or loss by comparing the bond proceeds to the purchase price of the bond. Free tax preparation 2012 Example. Free tax preparation 2012 You purchased a bond several years ago for its par value of $10,000. Free tax preparation 2012 You sold the bond this year for $10,100. Free tax preparation 2012 You have a gain of $100. Free tax preparation 2012 However, if you had sold the bond for $9,900, you would have a loss of $100. Free tax preparation 2012 Acquisition discount on short-term obligations. Free tax preparation 2012   If you include acquisition discount on a short-term obligation in your income currently, increase the basis of the obligation by the amount of acquisition discount you include in your income. Free tax preparation 2012 See Discount on Short-Term Obligations in chapter 1 for more information. Free tax preparation 2012 Original issue discount (OID) on debt instruments. Free tax preparation 2012   Increase the basis of a debt instrument by the OID you include in your income. Free tax preparation 2012 See Original Issue Discount (OID) in chapter 1. Free tax preparation 2012 Discounted tax-exempt obligations. Free tax preparation 2012   OID on tax-exempt obligations is generally not taxable. Free tax preparation 2012 However, when you dispose of a tax-exempt obligation issued after September 3, 1982, that you acquired after March 1, 1984, you must accrue OID on the obligation to determine its adjusted basis. Free tax preparation 2012 The accrued OID is added to the basis of the obligation to determine your gain or loss. Free tax preparation 2012   For information on determining OID on a long-term obligation, see Debt Instruments Issued After July 1, 1982, and Before 1985 or Debt Instruments Issued After 1984, whichever applies, in Publication 1212 under Figuring OID on Long-Term Debt Instruments. Free tax preparation 2012   If the tax-exempt obligation has a maturity of 1 year or less, accrue OID under the rules for acquisition discount on short-term obligations. Free tax preparation 2012 See Discount on Short-Term Obligations in chapter 1. Free tax preparation 2012 Stripped tax-exempt obligation. Free tax preparation 2012   If you acquired a stripped tax-exempt bond or coupon after October 22, 1986, you must accrue OID on it to determine its adjusted basis when you dispose of it. Free tax preparation 2012 For stripped tax-exempt bonds or coupons acquired after June 10, 1987, part of this OID may be taxable. Free tax preparation 2012 You accrue the OID on these obligations in the manner described in chapter 1 under Stripped Bonds and Coupons . Free tax preparation 2012   Increase your basis in the stripped tax-exempt bond or coupon by the taxable and nontaxable accrued OID. Free tax preparation 2012 Also increase your basis by the interest that accrued (but was not paid and was not previously reflected in your basis) before the date you sold the bond or coupon. Free tax preparation 2012 In addition, for bonds acquired after June 10, 1987, add to your basis any accrued market discount not previously reflected in basis. Free tax preparation 2012 How To Figure Gain or Loss You figure gain or loss on a sale or trade of property by comparing the amount you realize with the adjusted basis of the property. Free tax preparation 2012 Gain. Free tax preparation 2012   If the amount you realize from a sale or trade is more than the adjusted basis of the property you transfer, the difference is a gain. Free tax preparation 2012 Loss. Free tax preparation 2012   If the adjusted basis of the property you transfer is more than the amount you realize, the difference is a loss. Free tax preparation 2012 Amount realized. Free tax preparation 2012   The amount you realize from a sale or trade of property is everything you receive for the property minus your expenses of sale (such as redemption fees, sales commissions, sales charges, or exit fees). Free tax preparation 2012 Amount realized includes the money you receive plus the fair market value of any property or services you receive. Free tax preparation 2012   If you finance the buyer's purchase of your property and the debt instrument does not provide for adequate stated interest, the unstated interest that you must report as ordinary income will reduce the amount realized from the sale. Free tax preparation 2012 For more information, see Publication 537. Free tax preparation 2012   If a buyer of property issues a debt instrument to the seller of the property, the amount realized is determined by reference to the issue price of the debt instrument, which may or may not be the fair market value of the debt instrument. Free tax preparation 2012 See Regulations section 1. Free tax preparation 2012 1001-1(g). Free tax preparation 2012 However, if the debt instrument was previously issued by a third party (one not part of the sale transaction), the fair market value of the debt instrument is used to determine the amount realized. Free tax preparation 2012 Fair market value. Free tax preparation 2012   Fair market value is the price at which property would change hands between a buyer and a seller, neither being forced to buy or sell and both having reasonable knowledge of all the relevant facts. Free tax preparation 2012 Example. Free tax preparation 2012 You trade A Company stock with an adjusted basis of $7,000 for B Company stock with a fair market value of $10,000, which is your amount realized. Free tax preparation 2012 Your gain is $3,000 ($10,000 – $7,000). Free tax preparation 2012 If you also receive a note for $6,000 that has an issue price of $6,000, your gain is $9,000 ($10,000 + $6,000 – $7,000). Free tax preparation 2012 Debt paid off. Free tax preparation 2012   A debt against the property, or against you, that is paid off as a part of the transaction or that is assumed by the buyer must be included in the amount realized. Free tax preparation 2012 This is true even if neither you nor the buyer is personally liable for the debt. Free tax preparation 2012 For example, if you sell or trade property that is subject to a nonrecourse loan, the amount you realize generally includes the full amount of the note assumed by the buyer even if the amount of the note is more than the fair market value of the property. Free tax preparation 2012 Example. Free tax preparation 2012 You sell stock that you had pledged as security for a bank loan of $8,000. Free tax preparation 2012 Your basis in the stock is $6,000. Free tax preparation 2012 The buyer pays off your bank loan and pays you $20,000 in cash. Free tax preparation 2012 The amount realized is $28,000 ($20,000 + $8,000). Free tax preparation 2012 Your gain is $22,000 ($28,000 – $6,000). Free tax preparation 2012 Payment of cash. Free tax preparation 2012   If you trade property and cash for other property, the amount you realize is the fair market value of the property you receive. Free tax preparation 2012 Determine your gain or loss by subtracting the cash you pay and the adjusted basis of the property you trade in from the amount you realize. Free tax preparation 2012 If the result is a positive number, it is a gain. Free tax preparation 2012 If the result is a negative number, it is a loss. Free tax preparation 2012 No gain or loss. Free tax preparation 2012   You may have to use a basis for figuring gain that is different from the basis used for figuring loss. Free tax preparation 2012 In this case, you may have neither a gain nor a loss. Free tax preparation 2012 See No gain or loss in the discussion on the basis of property you received as a gift under Basis Other Than Cost, earlier. Free tax preparation 2012 Special Rules for Mutual Funds To figure your gain or loss when you dispose of mutual fund shares, you need to determine which shares were sold and the basis of those shares. Free tax preparation 2012 If your shares in a mutual fund were acquired all on the same day and for the same price, figuring their basis is not difficu
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Deducting Business Expenses

Business expenses are the cost of carrying on a trade or business. These expenses are usually deductible if the business is operated to make a profit.

What Can I Deduct?

To be deductible, a business expense must be both ordinary and necessary. An ordinary expense is one that is common and accepted in your trade or business. A necessary expense is one that is helpful and appropriate for your trade or business. An expense does not have to be indispensable to be considered necessary.

It is important to separate business expenses from the following expenses:

  • The expenses used to figure the cost of goods sold,
  • Capital Expenses, and
  • Personal Expenses.

Cost of Goods Sold

If your business manufactures products or purchases them for resale, you generally must value inventory at the beginning and end of each tax year to determine your cost of goods sold. Some of your expenses may be included in figuring the cost of goods sold. Cost of goods sold is deducted from your gross receipts to figure your gross profit for the year. If you include an expense in the cost of goods sold, you cannot deduct it again as a business expense.

The following are types of expenses that go into figuring the cost of goods sold.

  • The cost of products or raw materials, including freight
  • Storage
  • Direct labor costs (including contributions to pensions or annuity plans) for workers who produce the products
  • Factory overhead

Under the uniform capitalization rules, you must capitalize the direct costs and part of the indirect costs for certain production or resale activities. Indirect costs include rent, interest, taxes, storage, purchasing, processing, repackaging, handling, and administrative costs.

This rule does not apply to personal property you acquire for resale if your average annual gross receipts (or those of your predecessor) for the preceding 3 tax years are not more than $10 million.

For additional information, refer to the chapter on Cost of Goods Sold, Publication 334, Tax Guide for Small Businesses and the chapter on Inventories, Publication 538, Accounting Periods and Methods.

Capital Expenses

You must capitalize, rather than deduct, some costs. These costs are a part of your investment in your business and are called capital expenses. Capital expenses are considered assets in your business. There are, in general, three types of costs you capitalize.

  • Business start-up cost (See the note below)
  • Business assets
  • Improvements

Note: You can elect to deduct or amortize certain business start-up costs. Refer to chapters 7 and 8 of Publication 535, Business Expenses.

Personal versus Business Expenses

Generally, you cannot deduct personal, living, or family expenses. However, if you have an expense for something that is used partly for business and partly for personal purposes, divide the total cost between the business and personal parts. You can deduct the business part.

For example, if you borrow money and use 70% of it for business and the other 30% for a family vacation, you can deduct 70% of the interest as a business expense. The remaining 30% is personal interest and is not deductible. Refer to chapter 4 of Publication 535, Business Expenses, for information on deducting interest and the allocation rules.

Business Use of Your Home

If you use part of your home for business, you may be able to deduct expenses for the business use of your home. These expenses may include mortgage interest, insurance, utilities, repairs, and depreciation. Refer to Home Office Deduction and Publication 587, Business Use of Your Home, for more information.

Business Use of Your Car

If you use your car in your business, you can deduct car expenses. If you use your car for both business and personal purposes, you must divide your expenses based on actual mileage. Refer to Publication 463, Travel, Entertainment, Gift, and Car Expenses. For a list of current and prior year mileage rates see the Standard Mileage Rates.

Other Types of Business Expenses

  • Employees' Pay - You can generally deduct the pay you give your employees for the services they perform for your business.
  • Retirement Plans - Retirement plans are savings plans that offer you tax advantages to set aside money for your own, and your employees' retirement.
  • Rent Expense - Rent is any amount you pay for the use of property you do not own. In general, you can deduct rent as an expense only if the rent is for property you use in your trade or business. If you have or will receive equity in or title to the property, the rent is not deductible.
  • Interest - Business interest expense is an amount charged for the use of money you borrowed for business activities.
  • Taxes - You can deduct various federal, state, local, and foreign taxes directly attributable to your trade or business as business expenses.
  • Insurance - Generally, you can deduct the ordinary and necessary cost of insurance as a business expense, if it is for your trade, business, or profession.

This list is not all inclusive of the types of business expenses that you can deduct. For additional information, refer to Publication 535, Business Expenses.

Page Last Reviewed or Updated: 04-Feb-2014

The Free Tax Preparation 2012

Free tax preparation 2012 5. Free tax preparation 2012   Salarios, Sueldos y Otros Ingresos Table of Contents Recordatorio Introduction Useful Items - You may want to see: Remuneración del EmpleadoNiñeras. Free tax preparation 2012 Otras Clases de Remuneración Beneficios Marginales Aportaciones a un Plan de Jubilación Opciones de Compra de Acciones Bienes Restringidos Reglas Especiales para Algunos EmpleadosClero Miembros de Órdenes Religiosas Empleador Extranjero Fuerzas Armadas Voluntarios Beneficios por Enfermedad y LesionesPensiones por Incapacidad Contratos de Seguro de Cuidados a Largo Plazo Compensación del Seguro Obrero Otros Beneficios por Enfermedad y Lesiones Recordatorio Ingresos de fuentes en el extranjero. Free tax preparation 2012   Si usted es ciudadano de los Estados Unidos o residente extranjero, tiene que declarar en la declaración de impuestos todo ingreso proveniente de fuentes fuera de los Estados Unidos (ingresos del extranjero) a menos que esté exento conforme a las leyes de los Estados Unidos. Free tax preparation 2012 Esto corresponde independientemente de si reside dentro o fuera de los Estados Unidos y si ha recibido o no el Formulario W-2, Wage and Tax Statement (Comprobante de salarios e impuestos), en inglés, o el Formulario 1099, también en inglés, de un pagador extranjero. Free tax preparation 2012 Esto corresponde tanto a ingresos derivados del trabajo (como salarios y propinas) como a ingresos no derivados del trabajo (como intereses, dividendos, ganancias de capital, pensiones, alquileres y regalías). Free tax preparation 2012 Si reside fuera de los Estados Unidos, es posible que pueda excluir la totalidad o parte de sus ingresos del trabajo provenientes de fuentes extranjeras. Free tax preparation 2012 Para más información, vea la Publicación 54, Tax Guide for U. Free tax preparation 2012 S. Free tax preparation 2012 Citizens and Resident Aliens Abroad (Guía tributaria para ciudadanos y extranjeros residentes de los Estados Unidos que viven en el extranjero), en inglés. Free tax preparation 2012 Introduction Este capítulo abarca la compensación recibida por servicios prestados como empleado, tales como sueldos, salarios y beneficios marginales. Free tax preparation 2012 Se incluyen los siguientes temas: Bonificaciones y premios. Free tax preparation 2012 Reglas especiales para ciertos empleados. Free tax preparation 2012 Beneficios por enfermedad y lesiones. Free tax preparation 2012 Este capítulo explica cuáles son los ingresos que se incluyen en los ingresos brutos del empleado y cuáles no se incluyen. Free tax preparation 2012 Useful Items - You may want to see: Publicación 463 Travel, Entertainment, Gift, and Car Expenses (Gastos de viaje, entretenimiento, obsequios y automóvil), en inglés 525 Taxable and Nontaxable Income (Ingresos tributables y no tributables), en inglés Remuneración del Empleado Esta sección abarca varios tipos de remuneración del empleado incluyendo beneficios marginales, aportaciones a planes de jubilación, opciones para la compra de acciones y propiedad restringida. Free tax preparation 2012 Formulario W-2. Free tax preparation 2012    Si es empleado, debe recibir un Formulario W-2 de su empleador que muestre la remuneración que recibió por sus servicios. Free tax preparation 2012 Incluya la cantidad de la remuneración en la línea 7 del Formulario 1040 o del Formulario 1040A o en la línea 1 del Formulario 1040EZ, aún si no recibe un Formulario W-2. Free tax preparation 2012   Si prestó servicios, en otra calidad que no sea la de contratista independiente, y su empleador no le retuvo del sueldo impuestos del Seguro Social y Medicare, tiene que presentar el Formulario 8919, Uncollected Social Security and Medicare Tax on Wages (Impuestos del Seguro Social y Medicare sobre el salario no retenidos), en inglés, junto con el Formulario 1040. Free tax preparation 2012 Dicha parte del salario tiene que anotarse en la línea 7 del Formulario 1040. Free tax preparation 2012 Vea el Formulario 8919 para más información. Free tax preparation 2012 Proveedores de cuidado de menores. Free tax preparation 2012    Si provee cuidado de menores, ya sea en el hogar del menor, en el hogar de usted o en algún otro sitio comercial, la remuneración que usted reciba tiene que ser incluida en sus ingresos. Free tax preparation 2012 Si no es un empleado, usted probablemente trabaje por cuenta propia y tiene que incluir los pagos por los servicios en el Anexo C (Formulario 1040), Profit or Loss From Business (Ganancias o pérdidas de un negocio), o en el Anexo C-EZ (Formulario 1040), Net Profit From Business (Utilidad neta de un negocio), ambos en inglés. Free tax preparation 2012 Generalmente, no es empleado a menos que esté sujeto a la voluntad y control de la persona que lo emplea en cuanto a lo que tiene que hacer y cómo lo tiene que hacer. Free tax preparation 2012 Niñeras. Free tax preparation 2012   Si cuida a niños de parientes o vecinos, ya sea con regularidad o sólo ocasionalmente, las reglas para los proveedores del cuidado de menores le corresponden a usted. Free tax preparation 2012 Otras Clases de Remuneración Esta sección trata de diferentes clases de remuneración del empleado. Free tax preparation 2012 Comisiones pagadas por adelantado y otros ingresos. Free tax preparation 2012   Si recibe comisiones pagadas por adelantado u otras cantidades por servicios que prestará en el futuro y usted es contribuyente que usa el método contable a base de efectivo, tendrá que incluir estas cantidades en el ingreso del año en que las reciba. Free tax preparation 2012    Si reintegra comisiones no devengadas u otras cantidades en el mismo año en que las recibe, reste el reintegro de sus ingresos. Free tax preparation 2012 Si las reintegra en un año tributario posterior, puede deducir el reintegro como una deducción detallada en el Anexo A (Formulario 1040) o quizás pueda reclamar un crédito para ese año. Free tax preparation 2012 Vea Reintegros en el capítulo 12. Free tax preparation 2012 Asignaciones y reembolsos. Free tax preparation 2012    Si recibe asignaciones o reembolsos de su empleador para cubrir gastos de viaje, transporte u otros gastos relacionados con un negocio, vea la Publicación 463, en inglés. Free tax preparation 2012 Si se le reembolsan gastos de mudanza, vea la Publicación 521, Moving Expenses (Gastos de mudanza), en inglés. Free tax preparation 2012 Pago de sueldo atrasado como indemnización. Free tax preparation 2012    Incluya en sus ingresos las cantidades que se le otorguen en un convenio o sentencia para pagar sueldos atrasados. Free tax preparation 2012 Estas cantidades incluyen pagos hechos a usted por daños, primas de seguro de vida no pagadas y primas de seguro de salud no pagadas. Free tax preparation 2012 Su empleador debe informarle de las mismas en el Formulario W-2. Free tax preparation 2012 Bonificaciones y premios. Free tax preparation 2012   Las bonificaciones o premios que usted reciba por trabajo sobresaliente se incluyen en los ingresos y deben aparecer en su Formulario W-2. Free tax preparation 2012 Éstos incluyen premios como viajes de vacaciones por alcanzar objetivos de ventas. Free tax preparation 2012 Si el premio o recompensa que recibe es en mercancía o servicios, tiene que incluir en sus ingresos el valor justo de mercado de los mismos. Free tax preparation 2012 Sin embargo, si su empleador solamente promete pagarle una bonificación o premio en el futuro, no es tributable hasta que usted lo reciba o esté a su disposición. Free tax preparation 2012 Premio por logros del empleado. Free tax preparation 2012   Si recibe bienes muebles tangibles (que no sean efectivo, un certificado de regalo u otro artículo similar) como premio por años de servicio o por prácticas óptimas de seguridad, por lo general podrá excluir el valor de sus ingresos. Free tax preparation 2012 Sin embargo, la cantidad que puede excluir se limita a la cantidad del costo para su empleador y no puede ser más de $1,600 ($400 por premios que no sean premios de planes calificados) por todos los premios de esa índole que reciba durante el año. Free tax preparation 2012 Su empleador le puede decir si su premio pertenece a un plan calificado. Free tax preparation 2012 Su empleador tiene que entregarle el premio como parte de una ceremonia o presentación notable, bajo condiciones y circunstancias en las cuales no hay una probabilidad considerable de que el mismo sea una remuneración disimulada. Free tax preparation 2012   No obstante, la exclusión no corresponde a los siguientes premios: Un premio por años de servicio si usted lo recibió por menos de cinco años de servicio o si recibió otro premio por años de servicio durante el año o durante los cuatro años anteriores. Free tax preparation 2012 Un premio por prácticas óptimas de seguridad si es gerente, administrador, empleado oficinista u otro empleado profesional, o si más del 10% de los empleados que reúnen los requisitos recibieron premios anteriormente por prácticas óptimas de seguridad durante el año. Free tax preparation 2012 Ejemplo. Free tax preparation 2012 Benito Valverde recibió tres premios por logros como empleado durante el año: un premio de un plan no calificado que fue un reloj con un valor de $250 y dos premios de un plan calificado que constan de un aparato estereofónico con un valor de $1,000 y un juego de palos de golf con un valor de $500. Free tax preparation 2012 Suponiendo que, por lo demás, los requisitos para los premios de planes calificados se han cumplido, cada premio por sí solo estaría excluido de los ingresos. Free tax preparation 2012 Sin embargo, ya que el valor total de todos los premios es $1,750 y excede de $1,600, Benito tiene que incluir $150 ($1,750 – $1,600) en los ingresos. Free tax preparation 2012 Pagos de salarios diferenciales. Free tax preparation 2012   Los pagos de salarios diferenciales se definen como cualquier pago que le haya hecho un empleador y que corresponda a cualquier período de más de 30 días durante el cual preste servicio activo como miembro de los servicios uniformados. Free tax preparation 2012 Dichos pagos representan la totalidad, o una parte de, los salarios que hubiera recibido del empleador durante ese período. Free tax preparation 2012 Se considera que estos pagos son sueldos y están sujetos a la retención del ingreso federal sobre los ingresos. Free tax preparation 2012 Sin embargo, no están sujetos a los impuestos de la Ley de Contribución al Seguro Social (FICA, por sus siglas en inglés) ni a los impuestos de la Ley Federal de Contribución para el Desempleo (FUTA, por sus siglas en inglés). Free tax preparation 2012 Los pagos de salarios diferenciales se declaran como salarios en el Formulario W-2. Free tax preparation 2012 Asignaciones del gobierno por costo de vida. Free tax preparation 2012   La mayoría de los pagos que los empleados civiles del gobierno de los Estados Unidos reciben por trabajo en el extranjero es tributable. Free tax preparation 2012 Sin embargo, ciertas asignaciones por costo de vida son libres de impuestos. Free tax preparation 2012 La Publicación 516, U. Free tax preparation 2012 S. Free tax preparation 2012 Government Civilian Employees Stationed Abroad (Empleados civiles del gobierno de los Estados Unidos con puesto en el extranjero), en inglés, provee una explicación sobre el trato tributario de dichas asignaciones, pagos diferenciales y otra paga especial que usted recibe por trabajar en el extranjero. Free tax preparation 2012 Planes de compensación diferida no calificados. Free tax preparation 2012   Su empleador le informará del total de cantidades diferidas para el año conforme a un plan de compensación diferida no calificado. Free tax preparation 2012 Esta cantidad aparece en el recuadro 12 del Formulario W-2, con el código Y. Free tax preparation 2012 Esta cantidad no se incluye en los ingresos. Free tax preparation 2012   Sin embargo, si en algún momento del año tributario, el plan no cumple ciertos requisitos, o no se opera conforme a dichos requisitos, todas las cantidades diferidas conforme al plan para ese año tributario y todos los años tributarios anteriores se incluyen en los ingresos del año en curso. Free tax preparation 2012 Esta cantidad se incluye en el salario, el cual aparece en el recuadro 1 del Formulario W-2. Free tax preparation 2012 Dicha cantidad se anota también en el recuadro 12 del Formulario W-2, con el código Z. Free tax preparation 2012 Pagaré recibido por servicios. Free tax preparation 2012    Si su empleador le da un pagaré garantizado como pago por sus servicios, tendrá que incluir el valor justo de mercado (usualmente el valor de descuento) del pagaré en los ingresos del año en que lo recibió. Free tax preparation 2012 Luego, cuando reciba pagos sobre el pagaré, una proporción de cada pago es la recuperación del valor justo de mercado que usted previamente había incluido en los ingresos. Free tax preparation 2012 No vuelva a incluir esa parte en los ingresos. Free tax preparation 2012 Incluya el resto del pago en los ingresos del año en que recibió el pago. Free tax preparation 2012   Si su empleador le da un pagaré no garantizado y no negociable como pago por sus servicios, los pagos sobre el pagaré que se aplican al capital del mismo se consideran ingresos de remuneración cuando usted los recibe. Free tax preparation 2012 Indemnización por despido. Free tax preparation 2012   Los pagos recibidos por concepto de indemnización por despido y cancelación de contrato laboral tienen que ser incluidos en los ingresos. Free tax preparation 2012 Pago por vacaciones acumuladas. Free tax preparation 2012    Si es empleado federal y recibe un pago global en concepto de vacaciones acumuladas al jubilarse o renunciar, esta cantidad se incluye como salario en el Formulario W-2. Free tax preparation 2012   Si renuncia de una agencia federal y es empleado por otra, podría tener que devolver a la segunda agencia parte del pago global por vacaciones anuales acumuladas. Free tax preparation 2012 Puede reducir el salario bruto restando la cantidad que devolvió en el mismo año tributario en que la recibió. Free tax preparation 2012 Adjunte a la declaración de impuestos una copia del recibo o estado de cuentas que le dio la agencia a la cual le devolvió dicho pago para explicar la diferencia entre el salario en la declaración y el salario en los Formularios W-2. Free tax preparation 2012 Servicios de ayuda para obtener otro trabajo. Free tax preparation 2012   Si elige aceptar una cantidad reducida en concepto de indemnización por despido para recibir servicios de ayuda para encontrar otro trabajo (como capacitación para escribir su hoja de vida y hacer entrevistas), tendrá que incluir la cantidad no reducida de la indemnización en los ingresos. Free tax preparation 2012    No obstante, puede deducir el valor de estos servicios de ayuda para encontrar otro trabajo (hasta la diferencia entre la indemnización por despido incluida en los ingresos y la cantidad que en verdad recibió) como una deducción miscelánea (sujeta al límite del 2% del ingreso bruto ajustado o AGI, por sus siglas en inglés) en el Anexo A (Formulario 1040). Free tax preparation 2012 Pagos por enfermedad. Free tax preparation 2012   Los pagos que reciba de su empleador mientras esté enfermo o lesionado son parte del sueldo o salario. Free tax preparation 2012 Además, tiene que incluir en los ingresos los beneficios por enfermedad que reciba de cualquiera de los siguientes pagadores: Un fondo de bienestar social. Free tax preparation 2012 Un fondo estatal para enfermedad o incapacidad. Free tax preparation 2012 Una asociación de empleadores o empleados. Free tax preparation 2012 Una compañía de seguros, si su empleador pagó el plan. Free tax preparation 2012 No obstante, si pagó las primas de una póliza de accidente o de seguro de salud, las prestaciones que reciba conforme a la póliza no están sujetas a impuestos. Free tax preparation 2012 Para más información, vea la Publicación 525, en inglés. Free tax preparation 2012 Impuestos del Seguro Social y Medicare pagados por el empleador. Free tax preparation 2012   Si usted y su empleador tienen un acuerdo conforme al cual su empleador paga su impuesto del Seguro Social y Medicare sin deducirlos de su salario bruto, tendrá que declarar la cantidad de impuestos que se pagó por usted como salario sujeto a impuestos en la declaración. Free tax preparation 2012 El pago también se considera salario para calcular los impuestos y beneficios del Seguro Social y Medicare. Free tax preparation 2012 No obstante, estos pagos no se consideran salario del Seguro Social y Medicare si usted es trabajador doméstico o trabajador agrícola. Free tax preparation 2012 Derechos de revalorización de acciones. Free tax preparation 2012   No incluya un derecho de revalorización de acciones que le haya provisto su empleador en los ingresos hasta que ejerza (haga uso de) ese derecho. Free tax preparation 2012 Cuando ejerza ese derecho, tiene derecho a un pago en efectivo equivalente al valor justo de mercado de las acciones de la sociedad anónima en la fecha en que ejerció su derecho menos el valor justo de mercado de las acciones en la fecha en que se le otorgó el derecho. Free tax preparation 2012 Incluya el pago en efectivo en los ingresos del año en que ejerza su derecho. Free tax preparation 2012 Beneficios Marginales Los beneficios marginales que reciba relacionados con el desempeño de sus servicios se incluyen en los ingresos como remuneración a menos que pague su valor justo de mercado o estén específicamente excluidos por ley. Free tax preparation 2012 Abstenerse de prestar servicios (por ejemplo, conforme a un convenio de no competencia) se considera desempeño de sus servicios para los propósitos de estas reglas. Free tax preparation 2012 Período contable. Free tax preparation 2012   Tiene que usar el mismo período contable que su empleador para declarar los beneficios marginales sujetos a impuestos que no sean en efectivo. Free tax preparation 2012 Su empleador tiene la opción de declarar los beneficios marginales sujetos a impuestos que no sean en efectivo usando cualquiera de las dos reglas siguientes: Regla general: los beneficios se declaran para un año natural (1 de enero – 31 de diciembre). Free tax preparation 2012 Regla especial del período contable: los beneficios provistos durante los 2 últimos meses del año natural (o de cualquier período más corto) son tratados como si hubiesen sido pagados durante el siguiente año natural. Free tax preparation 2012 Por ejemplo, cada año su empleador declara el valor de los beneficios provistos durante los últimos 2 meses del año anterior y los primeros 10 meses del año en curso. Free tax preparation 2012  Su empleador no tiene que usar el mismo período contable para cada beneficio marginal, pero tiene que usar el mismo período para todos los empleados que reciban un beneficio particular. Free tax preparation 2012   Si desea declarar una deducción por gastos de negocio como empleado (en el caso del uso de un auto, por ejemplo), tiene que usar el mismo período contable que use para declarar el beneficio. Free tax preparation 2012 Formulario W-2. Free tax preparation 2012   Su empleador tiene que incluir todos los beneficios marginales en la casilla 1 del Formulario W-2 como salarios, propinas y otra remuneración; y si corresponde, en las casillas 3 y 5 como salarios sujetos a los impuestos al Seguro Social y al Medicare. Free tax preparation 2012 Aunque no se requiere, su empleador podría incluir el valor total de los beneficios marginales en la casilla 14 (o en un estado por separado). Free tax preparation 2012 Sin embargo, si su empleador le proveyó a usted un vehículo e incluyó el 100% de su valor de alquiler anual en los ingresos de usted, dicho empleador tiene que declararle este valor a usted por separado en la casilla 14 (o en un estado por separado). Free tax preparation 2012 Plan de Accidente o de Salud Generalmente, el valor de la cobertura de un seguro de accidente o de salud provisto por su empleador no se incluye en los ingresos. Free tax preparation 2012 Los beneficios que reciba del plan pueden estar sujetos a impuestos, como se explica más adelante en la sección titulada Beneficios por Enfermedad y Lesiones . Free tax preparation 2012 Para más información sobre los asuntos tratados en esta sección, salvo la cobertura para cuidados a largo plazo, vea la Publicación 969, Health Savings Accounts and Other Tax-Favored Health Plans (Cuentas de ahorros para gastos médicos y otros planes para gastos médicos con beneficios tributarios), en inglés. Free tax preparation 2012 Cobertura para cuidados a largo plazo. Free tax preparation 2012    Las aportaciones de su empleador para cubrir servicios de cuidados a largo plazo generalmente no se incluyen en los ingresos. Free tax preparation 2012 Sin embargo, las aportaciones hechas a una cuenta flexible de gastos médicos u otro plan similar (como un cafeteria plan (plan flexible de beneficios)) tienen que incluirse en los ingresos. Free tax preparation 2012 Esta cantidad se informa como salario en el recuadro 1 del Formulario W-2. Free tax preparation 2012   Las aportaciones a este tipo de plan se explican en la Publicación 502, Medical and Dental Expenses (Gastos médicos y dentales), en inglés. Free tax preparation 2012 Aportaciones a una cuenta de ahorros médicos Archer (conocida como Archer MSA, en inglés). Free tax preparation 2012    Las aportaciones hechas por su empleador a una cuenta de ahorros médicos Archer por lo general no se incluyen en los ingresos. Free tax preparation 2012 El total se declara en el recuadro 12 del Formulario W-2 con el código R. Free tax preparation 2012 Tiene que declarar esta cantidad en el Formulario 8853, Archer MSAs and Long-Term Care Insurance Contracts (Cuentas Archer MSA de ahorros médicos y contratos de seguros de cuidado a largo plazo), en inglés. Free tax preparation 2012 Adjunte el formulario a la declaración de impuestos. Free tax preparation 2012 Cuenta flexible de ahorros para gastos médicos (conocida como Health FSA, en inglés). Free tax preparation 2012   Si su empleador provee una cuenta flexible de ahorros para gastos médicos que reúna los requisitos como seguro de accidente o de salud, la cantidad de la reducción de su salario y los reembolsos de sus gastos por cuidados médicos generalmente no se incluyen en los ingresos. Free tax preparation 2012 Nota: Para los años de planes que comienzan después de 2012, las cuentas flexibles de ahorros están sujetas a un límite de $2,500 de aportaciones realizadas por medio de reducción en su salario. Free tax preparation 2012 Este límite de $2,500 está sujeto a ajuste por inflación para los años de planes que comienzan después de 2013. Free tax preparation 2012 Si desea más información, vea el Notice 2012-40 (Aviso 2012-40), que se encuentra en la página 1046 del Internal Revenue Bulletin 2012-26 (Boletín de Impuestos Internos 2012-26), disponible en inglés, en www. Free tax preparation 2012 irs. Free tax preparation 2012 gov/irb/2012-26_IRB/ar09. Free tax preparation 2012 html. Free tax preparation 2012 Cuenta de reembolso de gastos médicos (HRA, por sus siglas en inglés). Free tax preparation 2012   Si su empleador provee una cuenta de reembolso de gastos médicos (HRA) que reúna los requisitos como un seguro de accidente o de salud, la cobertura y reembolsos de sus gastos por cuidados médicos por lo general no se incluyen en los ingresos. Free tax preparation 2012 Cuenta de ahorros para gastos médicos (HSA, por sus siglas en inglés). Free tax preparation 2012   Si reúne los requisitos, usted y cualquier otra persona, incluyendo su empleador o un miembro de su familia, pueden hacer aportaciones a la cuenta HSA (de usted). Free tax preparation 2012 Las aportaciones, excepto las del empleador, se pueden deducir en la declaración independientemente de si detalla o no las deducciones. Free tax preparation 2012 Las aportaciones hechas por su empleador no se incluyen en los ingresos. Free tax preparation 2012 El dinero retirado de la cuenta HSA que se utilice para pagar gastos médicos calificados no se incluye en los ingresos. Free tax preparation 2012 Las distribuciones de la cuenta que no se utilicen para gastos médicos se incluyen en los ingresos. Free tax preparation 2012 Vea la Publicación 969, en inglés, para los requisitos correspondientes a una cuenta HSA. Free tax preparation 2012   Las aportaciones hechas por una sociedad colectiva a la cuenta HSA de un socio bona fide no corresponden a aportaciones hechas por un empleador. Free tax preparation 2012 Estas aportaciones se consideran distribuciones de dinero de la cuenta y no se incluyen en el ingreso bruto de dicho socio. Free tax preparation 2012 Las aportaciones hechas por una sociedad colectiva a la cuenta HSA de un socio por servicios prestados se tratan como pagos garantizados que se pueden incluir en el ingreso bruto del socio. Free tax preparation 2012 En ambos casos, el socio puede deducir las aportaciones hechas a su cuenta HSA. Free tax preparation 2012   Las aportaciones hechas por una sociedad anónima de tipo S a la cuenta HSA de un empleado-accionista del 2% por servicios prestados se tratan como pagos garantizados y se incluyen en el ingreso bruto del empleado-accionista. Free tax preparation 2012 El empleado-accionista puede deducir la aportación hecha a su cuenta HSA. Free tax preparation 2012 Distribución de fondos calificada a una cuenta de ahorros para gastos médicos (HSA). Free tax preparation 2012   Se puede realizar una sola distribución de un arreglo de ahorros para la jubilación (IRA) a una cuenta HSA y normalmente no se incluye ninguna parte de dicha distribución en los ingresos. Free tax preparation 2012 Consulte la Publicación 590 para ver los requisitos correspondientes a estas distribuciones de fondos calificadas a una cuenta HSA. Free tax preparation 2012 Falta de cumplimiento con los requisitos. Free tax preparation 2012   Si su cuenta de ahorros para gastos médicos (HSA) recibió distribuciones calificadas (para cuentas HSA) de una cuenta flexible para gastos médicos (Health FSA) o de un plan de reembolso de gastos médicos (HRA) (temas tratados anteriormente) o de una distribución de fondos calificada para una cuenta HSA, usted tiene que reunir los requisitos para fines de una cuenta HSA en el período desde el mes en el que se haya realizado la distribución calificada hasta el último día del duodécimo mes siguiente a dicho mes. Free tax preparation 2012 Si no reúne los requisitos durante este período y esto no se debe a fallecimiento o incapacidad, tiene que incluir la distribución en los ingresos del año tributario en el que deje de reunir los requisitos. Free tax preparation 2012 Dichos ingresos están sujetos a un impuesto adicional del 10%. Free tax preparation 2012 Ayuda para Adopción Es posible que pueda excluir de los ingresos cantidades pagadas o gastos incurridos por su empleador por gastos calificados de adopción relacionados con la adopción de un hijo que reúna los requisitos. Free tax preparation 2012 Vea las instrucciones para el Formulario 8839, Qualified Adoption Expenses (Gastos de adopción calificados), en inglés, para más información. Free tax preparation 2012 Los beneficios por adopción los declara el empleador en el recuadro 12 del Formulario W-2 con el código T. Free tax preparation 2012 También se incluyen como remuneración del Seguro Social y Medicare en los recuadros 3 y 5. Free tax preparation 2012 Sin embargo, no se incluyen como salario en el recuadro 1. Free tax preparation 2012 Para determinar las cantidades sujetas a impuestos y las que no lo están, tiene que llenar la Parte III del Formulario 8839, en inglés. Free tax preparation 2012 Adjunte el formulario a su declaración de impuestos. Free tax preparation 2012 Beneficios De Minimis (Mínimos) Si su empleador le provee un producto o servicio y el costo del mismo es tan pequeño que no sería razonable para el empleador declararlo, el valor no se incluye en los ingresos. Free tax preparation 2012 Generalmente, el valor de los beneficios como descuentos en las cafeterías de la compañía, el costo de transporte por taxi para regresar a su casa cuando trabaje horas extra y comidas patrocinadas por la compañía no se incluyen en los ingresos. Free tax preparation 2012 Obsequios por fiestas. Free tax preparation 2012   Si su empleador le obsequia un pavo, jamón u otro artículo de valor nominal por Navidad u otras fiestas, no incluya el valor del obsequio en los ingresos. Free tax preparation 2012 Sin embargo, si su empleador le obsequia dinero en efectivo, un certificado de regalo o un artículo similar que usted fácilmente puede canjear por efectivo, incluya el valor de ese obsequio como salario o sueldo adicional sea cual sea la cantidad en cuestión. Free tax preparation 2012 Ayuda para Educación Puede excluir de sus ingresos hasta $5,250 en concepto de ayuda calificada para educación provista por el empleador. Free tax preparation 2012 Para más información, vea la Publicación 970, Tax Benefits for Education (Beneficios tributarios para estudios), en inglés. Free tax preparation 2012 Seguro de Vida Colectivo a Término Fijo Por lo general, el costo de hasta $50,000 de la cobertura de un seguro de vida colectivo a término fijo provisto por su empleador (o un empleador anterior) no se incluye en los ingresos. Free tax preparation 2012 Sin embargo, tiene que incluir en los ingresos el costo del seguro provisto por su empleador si es superior a $50,000 de cobertura menos toda cantidad que pague por la compra del seguro. Free tax preparation 2012 Para las excepciones, vea Costo exento de impuestos en su totalidad , y Costo sujeto a impuestos en su totalidad , más adelante. Free tax preparation 2012 Si su empleador provee más de $50,000 en cobertura, la cantidad incluida en los ingresos se declara como parte de su salario en el recuadro 1 del Formulario W-2. Free tax preparation 2012 También aparece por separado en el recuadro 12 con el código C. Free tax preparation 2012 Seguro de vida colectivo a término a fijo. Free tax preparation 2012   Este tipo de seguro proporciona protección mediante un seguro de vida a término fijo (un seguro que tiene vigencia por un período de tiempo fijo) que: Provee una indemnización general por fallecimiento del asegurado, Se ofrece a un grupo de empleados, Se ofrece conforme a una póliza a nombre del empleador, y Provee una cantidad de seguro para cada empleado basada en una fórmula que impide una selección individual. Free tax preparation 2012 Beneficios permanentes. Free tax preparation 2012   Si su póliza de seguro de vida colectivo a término fijo incluye beneficios permanentes, como el valor de su pago completo o el valor en efectivo de recuperación de la póliza, tiene que incluir en los ingresos, como salario, el costo de los beneficios permanentes menos la cantidad que pague por ellos. Free tax preparation 2012 Su empleador debe poder decirle la cantidad que tiene que incluir en los ingresos. Free tax preparation 2012 Beneficios por fallecimiento accidental. Free tax preparation 2012   El seguro que provee beneficios por fallecimiento accidental u otro tipo de beneficios por fallecimiento pero no provee beneficios por fallecimiento en general (seguro de viajes, por ejemplo) no es seguro de vida colectivo a término fijo. Free tax preparation 2012 Empleador anterior. Free tax preparation 2012   Si un empleador anterior proveyó más de $50,000 en cobertura de seguro de vida colectivo a término fijo durante el año, la cantidad incluida en sus ingresos se declara como salario en el recuadro 1 del Formulario W-2. Free tax preparation 2012 También aparece por separado en el recuadro 12 con el código C. Free tax preparation 2012 El recuadro 12 también muestra, con los códigos M y N, la cantidad de impuestos sin cobrar del Seguro Social y Medicare sobre la cobertura en exceso. Free tax preparation 2012 Tiene que pagar estos impuestos con su declaración de impuestos. Free tax preparation 2012 Inclúyalos en el impuesto total en la línea 60 del Formulario 1040 y siga las instrucciones para la línea 60. Free tax preparation 2012 Para más información, vea las Instrucciones del Formulario 1040, en inglés. Free tax preparation 2012 Dos o más empleadores. Free tax preparation 2012   Su exclusión para la cobertura del seguro de vida colectivo a término fijo no puede sobrepasar el costo de $50,000 de cobertura provista por su empleador, independientemente de si el seguro es provisto por un solo empleador o por varios empleadores. Free tax preparation 2012 Si dos o más empleadores proveen cobertura de seguro que sume más de $50,000, las cantidades declaradas como salarios en los Formularios W-2 no serán correctas. Free tax preparation 2012 Tiene que calcular cuánto tiene que incluir en los ingresos. Free tax preparation 2012 A la cantidad que calcule, réstele la cantidad declarada con el código C en el recuadro 12 de los Formularios W-2, sume el resultado al salario declarado en el recuadro 1 y declare el total en su declaración de impuestos. Free tax preparation 2012 Cómo calcular el costo tributable. Free tax preparation 2012   Utilice la hoja de trabajo siguiente para calcular la cantidad a incluir en los ingresos. Free tax preparation 2012     Hoja de Trabajo 5-1. Free tax preparation 2012 Cómo Calcular el Costo del Seguro de Vida Colectivo a Término Fijo a Incluir en los Ingresos 1. Free tax preparation 2012 Anote la cantidad total de su cobertura de seguro provista por su(s) empleador(es). Free tax preparation 2012 1. Free tax preparation 2012   2. Free tax preparation 2012 Límite sobre la exclusión para la cobertura del seguro de vida colectivo a término fijo provista por su empleador. Free tax preparation 2012 2. Free tax preparation 2012 50,000 3. Free tax preparation 2012 Reste la línea 2 de la línea 1. Free tax preparation 2012 3. Free tax preparation 2012   4. Free tax preparation 2012 Divida la línea 3 entre $1,000. Free tax preparation 2012 Incluya sólo un decimal. Free tax preparation 2012 4. Free tax preparation 2012   5. Free tax preparation 2012 Vaya a la Tabla 5-1. Free tax preparation 2012 Según la edad que tenga el último día del año tributario, busque el grupo correspondiente a su edad en la columna izquierda y anote el costo correspondiente indicado en la columna derecha. Free tax preparation 2012 5. Free tax preparation 2012   6. Free tax preparation 2012 Multiplique la línea 4 por la línea 5. Free tax preparation 2012 6. Free tax preparation 2012   7. Free tax preparation 2012 Anote el número de meses completos de cobertura a este costo. Free tax preparation 2012 7. Free tax preparation 2012   8. Free tax preparation 2012 Multiplique la línea 6 por la línea 7. Free tax preparation 2012 8. Free tax preparation 2012   9. Free tax preparation 2012 Anote las primas que pagó al mes. Free tax preparation 2012 9. Free tax preparation 2012       10. Free tax preparation 2012 Anote el número de meses que pagó las primas. Free tax preparation 2012 10. Free tax preparation 2012       11. Free tax preparation 2012 Multiplique la línea 9 por la línea 10. Free tax preparation 2012 11. Free tax preparation 2012   12. Free tax preparation 2012 Reste la línea 11 de la línea 8. Free tax preparation 2012 Incluya esta cantidad en sus ingresos como salario 12. Free tax preparation 2012   Tabla 5-1. Free tax preparation 2012 Costo de Cada $1,000 de Seguro de Vida Colectivo a Término Fijo por un Mes Edad Costo Menor de 25 años $ 0. Free tax preparation 2012 05 De 25 a 29 años 0. Free tax preparation 2012 06 De 30 a 34 años 0. Free tax preparation 2012 08 De 35 a 39 años 0. Free tax preparation 2012 09 De 40 a 44 años 0. Free tax preparation 2012 10 De 45 a 49 años 0. Free tax preparation 2012 15 De 50 a 54 años 0. Free tax preparation 2012 23 De 55 a 59 años 0. Free tax preparation 2012 43 De 60 a 64 años 0. Free tax preparation 2012 66 De 65 a 69 años 1. Free tax preparation 2012 27 De 70 años en adelante 2. Free tax preparation 2012 06 Ejemplo. Free tax preparation 2012 Usted tiene 51 años de edad y trabaja para los empleadores A y B. Free tax preparation 2012 Ambos empleadores le proveen cobertura de seguro de vida colectivo a término fijo para el año entero. Free tax preparation 2012 Su cobertura es $35,000 con el empleador A y $45,000 con el empleador B. Free tax preparation 2012 Usted paga las primas mensuales de $4. Free tax preparation 2012 15 conforme al plan colectivo del empleador B. Free tax preparation 2012 La cantidad a ser incluida en los ingresos se calcula según lo indicado en la Hoja de Trabajo 5-1. Free tax preparation 2012 Cómo Calcular el Costo del Seguro de Vida Colectivo a Término Fijo a Incluir en los Ingresos – Ejemplo, a continuación. Free tax preparation 2012    Hoja de Trabajo 5-1. Free tax preparation 2012 Cómo Calcular el Costo del Seguro de Vida Colectivo a Término Fijo a Incluir en los Ingresos – Ejemplo 1. Free tax preparation 2012 Anote la cantidad total de su cobertura de seguro provista por su(s) empleador(es). Free tax preparation 2012 1. Free tax preparation 2012 80,000 2. Free tax preparation 2012 Límite sobre la exclusión para la cobertura del seguro de vida colectivo a término fijo provista por su empleador. Free tax preparation 2012 2. Free tax preparation 2012 50,000 3. Free tax preparation 2012 Reste la línea 2 de la línea 1. Free tax preparation 2012 3. Free tax preparation 2012 30,000 4. Free tax preparation 2012 Divida la línea 3 entre $1,000. Free tax preparation 2012 Incluya sólo un decimal. Free tax preparation 2012 4. Free tax preparation 2012 30. Free tax preparation 2012 0 5. Free tax preparation 2012 Vaya a la Tabla 5-1. Free tax preparation 2012 Según la edad que tenga el último día del año tributario, busque el grupo correspondiente a su edad en la columna izquierda y anote el costo correspondiente indicado en la columna derecha. Free tax preparation 2012 5. Free tax preparation 2012 . Free tax preparation 2012 23 6. Free tax preparation 2012 Multiplique la línea 4 por la línea 5. Free tax preparation 2012 6. Free tax preparation 2012 6. Free tax preparation 2012 90 7. Free tax preparation 2012 Anote el número de meses completos de cobertura a este costo. Free tax preparation 2012 7. Free tax preparation 2012 12 8. Free tax preparation 2012 Multiplique la línea 6 por la línea 7. Free tax preparation 2012 8. Free tax preparation 2012 82. Free tax preparation 2012 80 9. Free tax preparation 2012 Anote las primas que pagó al mes. Free tax preparation 2012 9. Free tax preparation 2012 4. Free tax preparation 2012 15     10. Free tax preparation 2012 Anote el número de meses que pagó las primas. Free tax preparation 2012 10. Free tax preparation 2012 12     11. Free tax preparation 2012 Multiplique la línea 9 por la línea 10. Free tax preparation 2012 11. Free tax preparation 2012 49. Free tax preparation 2012 80 12. Free tax preparation 2012 Reste la línea 11 de la línea 8. Free tax preparation 2012 Incluya esta cantidad en sus ingresos como salario. Free tax preparation 2012 12. Free tax preparation 2012 33. Free tax preparation 2012 00 Costo exento de impuestos en su totalidad. Free tax preparation 2012   No se grava impuesto alguno sobre el costo del seguro de vida colectivo a término fijo si se da alguna de las siguientes circunstancias: Está permanente y totalmente incapacitado y ha cesado su trabajo. Free tax preparation 2012 Su empleador es el beneficiario de la póliza por el período completo de vigencia del seguro durante el año tributario. Free tax preparation 2012 Una organización benéfica (definida en el capítulo 24), para la cual las aportaciones son deducibles, es la única beneficiaria de la póliza por el período completo de vigencia del seguro durante el año tributario. Free tax preparation 2012 (No tiene derecho a una deducción en concepto de donación caritativa por nombrar a una organización benéfica beneficiaria de su póliza). Free tax preparation 2012 El plan existía el 1 de enero de 1984 y Se jubiló antes del 2 de enero de 1984 y estaba cubierto por el plan cuando se jubiló o Llegó a los 55 años de edad antes del 2 enero de 1984 y estaba empleado por el empleador o su predecesor en 1983. Free tax preparation 2012 Costo sujeto a impuestos en su totalidad. Free tax preparation 2012   Se grava la totalidad del costo del seguro de vida colectivo a término fijo si se da alguna de las siguientes circunstancias: El empleador provee el seguro por medio de un fideicomiso para empleados calificado, como un fideicomiso de pensiones o un plan de anualidades calificado. Free tax preparation 2012 Usted es un empleado clave y el plan de su empleador discrimina a favor de los empleados clave. Free tax preparation 2012 Servicios de Planificación para la Jubilación Si su empleador tiene un plan calificado de jubilación, los servicios de planificación calificados para la jubilación provistos a usted (y a su cónyuge) por el empleador no se incluyen en los ingresos. Free tax preparation 2012 Los servicios calificados incluyen asesoramiento sobre planificación para la jubilación, información sobre el plan de jubilación de su empleador e información sobre cómo podría encajar este plan dentro de su plan general individual de ingresos para la jubilación. Free tax preparation 2012 No puede excluir el valor de ningún servicio de preparación de impuestos, contabilidad, ni servicios de un abogado o corredor de bolsa provistos por su empleador. Free tax preparation 2012 Transporte Si su empleador le provee un beneficio marginal de transporte calificado, éste puede ser excluido de sus ingresos, hasta ciertos límites. Free tax preparation 2012 Un beneficio marginal de transporte calificado es: Transporte en vehículos de desplazamiento en carretera (como furgonetas) entre su hogar y el lugar de trabajo, Una tarjeta abonada de transporte colectivo, Estacionamiento que reúna los requisitos. Free tax preparation 2012 Desplazamiento calificado de ida y vuelta al trabajo en bicicleta. Free tax preparation 2012 Los reembolsos en efectivo hechos por su empleador para dichos gastos conforme a un acuerdo bona fide para reembolsos también son excluibles. Free tax preparation 2012 Sin embargo, el reembolso en efectivo de una tarjeta abonada de transporte colectivo es excluible sólo si no tiene a su disposición un recibo o artículo similar que pueda ser canjeado únicamente por una tarjeta abonada de transporte colectivo. Free tax preparation 2012 Límite de exclusión. Free tax preparation 2012   La exclusión para el transporte al trabajo en vehículos de carretera y los beneficios marginales de tarjetas abonadas de transporte colectivo no puede ser mayor que $245 al mes. Free tax preparation 2012   La exclusión por el beneficio marginal de estacionamiento calificado no puede ser mayor de $245 al mes. Free tax preparation 2012   La exclusión para desplazarse en bicicleta hasta el lugar de trabajo y de vuelta a la casa, conforme a los requisitos y durante un año natural, se calcula multiplicando $20 por el número de meses, los cuales reúnen los requisitos, en los que dicho desplazamiento se haya realizado durante dicho año. Free tax preparation 2012   Si los beneficios tienen un valor superior a estos límites, la cantidad en exceso tiene que incluirse en los ingresos. Free tax preparation 2012 Usted no tiene derecho a estas exclusiones si los reembolsos se efectúan conforme a un acuerdo de reducción de remuneración. Free tax preparation 2012 Vehículo de transporte al trabajo en carretera. Free tax preparation 2012   Es un vehículo de uso en carretera con asientos para por lo menos seis adultos (sin incluir al chófer). Free tax preparation 2012 Se espera que por lo menos el 80% del millaje del vehículo sea por: Transporte de empleados de su casa al trabajo y viceversa y Viajes durante los cuales los empleados ocupan por lo menos la mitad de los asientos para adultos del vehículo (sin incluir al chófer). Free tax preparation 2012 Tarjeta abonada de transporte. Free tax preparation 2012   Es toda tarjeta, ficha, billete o vale que le dé a la persona el derecho de viajar en transporte colectivo (ya sea público o privado) gratis o con descuento o a viajar en un vehículo de transporte por carretera operado por una persona que se dedique al negocio de transportar personas a cambio de remuneración. Free tax preparation 2012 Estacionamiento que reúne los requisitos. Free tax preparation 2012   Es un estacionamiento provisto a un empleado en el sitio del local comercial del empleador, o cerca del mismo. Free tax preparation 2012 También incluye el estacionamiento en el lugar, o cerca del lugar, desde el cual el empleado viaja a su lugar de trabajo en transporte público, en un vehículo de transporte en carretera o en un vehículo sujeto a un convenio entre dueños de autos para turnarse en el transporte a sus lugares de trabajo. Free tax preparation 2012 No incluye el estacionamiento en el hogar del empleado o cerca del mismo. Free tax preparation 2012 Desplazamiento calificado de ida y vuelta al trabajo en bicicleta. Free tax preparation 2012   Éste es un reembolso basado en el número de meses calificados de desplazamiento de ida y vuelta al trabajo en bicicleta durante el año. Free tax preparation 2012 Un mes calificado de desplazamiento de ida y vuelta al trabajo en bicicleta es cualquier mes en el que utilice la bicicleta de manera habitual para una parte sustancial del viaje de ida y vuelta al trabajo sin recibir los demás beneficios marginales de transporte calificados. Free tax preparation 2012 Puede recibir el reembolso por gastos en los que incurrió durante el año al comprar una bicicleta y por mejoras, reparaciones y almacenaje relacionados con la bicicleta. Free tax preparation 2012 Aportaciones a un Plan de Jubilación Las aportaciones hechas por su empleador a un plan calificado de jubilación para usted no se incluyen en los ingresos en el momento en que se hacen. Free tax preparation 2012 Su empleador le puede decir si su plan de jubilación reúne los requisitos. Free tax preparation 2012 Sin embargo, es posible que el costo de cobertura de un seguro de vida incluido en el plan tenga que incluirse. Free tax preparation 2012 Vea el tema titulado Seguro de Vida Colectivo a Término Fijo , anteriormente, bajo Beneficios Marginales. Free tax preparation 2012 Si su empleador hace pagos a un plan no calificado para usted, generalmente tiene que incluir las aportaciones en los ingresos como salario para el año tributario en que se hicieron las aportaciones. Free tax preparation 2012 Sin embargo, si los intereses que recibe del plan no se pueden traspasar o están sujetos a un riesgo considerable de ser decomisados (o sea, usted tiene buena probabilidad de perderlos) en el momento de la aportación, no tiene que incluir el valor de los intereses en los ingresos hasta que sean transferibles, o no estén sujetos a dicho riesgo de ser decomisados. Free tax preparation 2012 Para información sobre las distribuciones de planes de jubilación, vea la Publicación 575, Pension and Annuity Income (Ingresos de pensiones y anualidades), (o la Publicación 721, Tax Guide to U. Free tax preparation 2012 S. Free tax preparation 2012 Civil Service Retirement Benefits (Guía tributaria de beneficios de jubilación federales de los Estados Unidos)), ambas en inglés, si usted es empleado o jubilado federal. Free tax preparation 2012 Aplazamientos electivos. Free tax preparation 2012   Si tiene derecho a ciertos tipos de planes de jubiliación, puede escoger apartar parte de su salario para que su empleador lo aporte a un fondo para la jubiliación, en vez de serle pagado a usted. Free tax preparation 2012 La cantidad que aparte (denominada aplazamiento electivo) se considera aportación del empleador a un plan calificado. Free tax preparation 2012 Un aplazamiento electivo, que no sea una aportación designada hecha a un arreglo Roth (tema que se aborda más adelante), no se incluye en el salario sujeto a impuestos sobre el ingreso en el momento en que se hace la aportación. Free tax preparation 2012 Sin embargo, sí se incluye en el salario sujeto a impuestos del Seguro Social y Medicare. Free tax preparation 2012   Los aplazamientos electivos incluyen aportaciones electivas hechas a los siguientes planes de jubilación: Acuerdos de pago en efectivo o diferidos (planes conforme a la sección 401(k)). Free tax preparation 2012 Thrift Savings Plan (Cuenta de ahorros para la jubilación) para empleados del gobierno federal. Free tax preparation 2012 Planes de pensiones simplificadas para empleados mediante la reducción de salarios (conocidos en inglés como salary reduction simplified employee pension plans (SARSEP)). Free tax preparation 2012 Planes de incentivos de ahorros para empleados en los que el empleador aporta cantidades iguales (conocidos en inglés como savings incentive match plans for employees (SIMPLE plans)). Free tax preparation 2012 Planes de anualidades con protección tributaria (planes conforme a la sección 403(b)). Free tax preparation 2012 Planes conforme a la sección 501(c)(18)(D). Free tax preparation 2012 Planes conforme a la sección 457. Free tax preparation 2012 Plan calificado de aportaciones automáticas. Free tax preparation 2012   A través de un plan calificado de aportaciones automáticas, su empleador puede considerar que usted ha optado por aportar parte de su salario a un plan conforme a la sección 401(k). Free tax preparation 2012 A usted se le debe enviar una notificación por escrito de los derechos y deberes que le corresponden conforme al plan calificado de aportaciones automáticas. Free tax preparation 2012 Dicha notificación tiene que explicar: Su derecho a optar por que no se efectúen aportaciones optativas o por que sí se efectúen, pero a un porcentaje distinto y Cómo se invertirán las aportaciones efectuadas si usted no toma una decisión en cuanto a la inversión de las mismas. Free tax preparation 2012   Después de recibir la notificación y antes de que se efectúe la primera aportación optativa, es obligatorio que tenga un período razonable para elegir una opción en cuanto a las aportaciones. Free tax preparation 2012 Límite global sobre aplazamientos. Free tax preparation 2012   En el año 2013, por lo general, no debió haber diferido más de un total de $17,500 en aportaciones a los planes enumerados anteriormente en los apartados (1) al (3) y (5). Free tax preparation 2012 El límite sobre aportaciones hechas a un plan SIMPLE es $12,000. Free tax preparation 2012 El límite sobre aportaciones hechas a planes conforme a la sección 501(c)(18)(D) es $7,000 o el 25% de su remuneración, la cantidad que sea menor. Free tax preparation 2012 El límite sobre aportaciones hechas a planes conforme a la sección 457 es su remuneración incluible o $17,500, la cantidad que sea menor. Free tax preparation 2012 Las cantidades diferidas bajo los límites específicos del plan son parte del límite global sobre aplazamientos. Free tax preparation 2012 Aportaciones designadas a un arreglo Roth. Free tax preparation 2012   Los empleadores con planes conforme a las secciones 401(k) y 403(b) pueden establecer programas calificados de aportaciones a un arreglo Roth para hacer que la totalidad o parte de sus aplazamientos electivos al plan se designen a aportaciones a un arreglo Roth después de impuestos. Free tax preparation 2012 Las aportaciones designadas a un arreglo Roth se consideran aplazamientos electivos, salvo que se incluyen en los ingresos. Free tax preparation 2012 Aplazamientos en exceso. Free tax preparation 2012   Su empleador o el administrador de su plan debería aplicar el límite anual correspondiente al calcular sus aportaciones al plan. Free tax preparation 2012 No obstante, usted es responsable de controlar o llevar la cuenta del total que aplace para asegurarse de que los aplazamientos no sean mayores al límite global. Free tax preparation 2012   Si aparta una cantidad mayor al límite, el exceso generalmente tiene que incluirse en los ingresos de ese año, a no ser que tenga un aplazamiento en exceso de una aportación designada a un arreglo Roth. Free tax preparation 2012 Vea la Publicación 525, en inglés, para una explicación sobre el tratamiento tributario de los aplazamientos en exceso. Free tax preparation 2012 Aportaciones de actualización. Free tax preparation 2012   Es posible que se le permita hacer aportaciones de actualización (aplazamientos electivos adicionales) si tiene 50 años de edad o más para el final del año tributario. Free tax preparation 2012 Opciones de Compra de Acciones Si recibe una opción no estatutaria para comprar o vender acciones u otros bienes como pago por sus servicios, normalmente tendrá ingresos cuando reciba la opción, cuando ejerza la opción (cuando la use para comprar o vender las acciones u otros bienes) o cuando venda o de otra manera enajene la opción. Free tax preparation 2012 Sin embargo, si su opción es una opción estatutaria de acciones, no tendrá ningún ingreso hasta que venda o intercambie sus acciones. Free tax preparation 2012 Su empleador le puede decir qué clase de opción tiene. Free tax preparation 2012 Para más información, vea la Publicación 525, en inglés. Free tax preparation 2012 Bienes Restringidos Por lo general, si recibe bienes a cambio de sus servicios, tiene que incluir el valor justo de mercado en los ingresos en el año en que reciba los bienes. Free tax preparation 2012 Sin embargo, si recibe acciones u otros bienes que tengan ciertas restricciones que afecten su valor, no incluya el valor de los bienes en los ingresos hasta que se hayan adquirido todos los derechos a los mismos. Free tax preparation 2012 Puede elegir incluir el valor de los bienes en los ingresos en el año en que le son traspasados a usted. Free tax preparation 2012 Para más información, vea Restricted Property (Bienes restringidos), en la Publicación 525, en inglés. Free tax preparation 2012 Dividendos recibidos de acciones restringidas. Free tax preparation 2012   Los dividendos que reciba de acciones restringidas se consideran remuneración y no ingresos de dividendos. Free tax preparation 2012 Su empleador debe incluir estos pagos en el Formulario W-2. Free tax preparation 2012 Acciones que usted elija incluir en los ingresos. Free tax preparation 2012   Los dividendos que reciba de acciones restringidas que usted eligió incluir en los ingresos en el año en que se traspasaron son tratados como cualquier otro dividendo. Free tax preparation 2012 Declárelos en la declaración de impuestos como dividendos. Free tax preparation 2012 Para una explicación sobre dividendos, vea el capítulo 8 . Free tax preparation 2012    Para más información sobre cómo tratar los dividendos declarados en el Formulario W-2 y el Formulario 1099-DIV, vea Dividends received on restricted stock (Dividendos recibidos de acciones restringidas), en la Publicación 525, en inglés. Free tax preparation 2012 Reglas Especiales para Algunos Empleados Esta sección trata de las reglas especiales para personas que tengan ciertas clases de empleo: miembros del clero, miembros de órdenes religiosas, personas que trabajan para empleadores extranjeros, personal militar y voluntarios. Free tax preparation 2012 Clero Por lo general, si es miembro del clero, tiene que incluir en sus ingresos las ofrendas y honorarios que reciba por oficiar en matrimonios, bautizos, funerales, misas, etc. Free tax preparation 2012 , además de su sueldo o salario. Free tax preparation 2012 Si la ofrenda se hace a la institución religiosa, no se le grava a usted. Free tax preparation 2012 Si es miembro de una organización religiosa y le da ganancias de otras fuentes a dicha organización religiosa, tiene que incluir dichas ganancias en sus ingresos. Free tax preparation 2012 No obstante, quizás tenga derecho a una deducción de la cantidad pagada a la organización caritativa. Free tax preparation 2012 Vea el capítulo 24 . Free tax preparation 2012 Pensión. Free tax preparation 2012    Una pensión o pago por jubilación para un miembro del clero suele tratarse igual que otra pensión o anualidad. Free tax preparation 2012 Tiene que declararse en las líneas 16a y 16b del Formulario 1040 o en las líneas 12a y 12b del Formulario 1040A. Free tax preparation 2012 Vivienda. Free tax preparation 2012    Hay reglas especiales en cuanto a vivienda para los miembros del clero. Free tax preparation 2012 Conforme a estas reglas, no se incluye en los ingresos el valor del alquiler de una vivienda (incluyendo servicios públicos) ni una asignación para vivienda que le haya sido proporcionada como parte de su paga. Free tax preparation 2012 Sin embargo, la exclusión no puede ser mayor que la paga razonable por sus servicios. Free tax preparation 2012 Si paga por los servicios públicos, puede excluir toda asignación designada al costo de los servicios, hasta el costo real. Free tax preparation 2012 La vivienda o la asignación se le tiene que ofrecer como compensación por sus servicios como ministro ordenado, con licencia o con comisión. Free tax preparation 2012 No obstante, tiene que incluir el valor del alquiler de la vivienda o de la asignación para la vivienda como ganancias del trabajo por cuenta propia en el Anexo SE (Formulario 1040) si está sujeto al impuesto del trabajo por cuenta propia. Free tax preparation 2012 Para más información, vea la Publicación 517, Social Security and Other Information for Members of the Clergy and Religious Workers (Seguro Social y otra información para miembros del clero y empleados religiosos), en inglés. Free tax preparation 2012 Miembros de Órdenes Religiosas Si es miembro de una orden religiosa que ha hecho un voto de pobreza, la manera de tratar las ganancias a las cuales ha renunciado y que ha entregado a la orden depende de si presta servicios a la misma. Free tax preparation 2012 Servicios prestados a la orden religiosa. Free tax preparation 2012   Si presta servicios en representación de la orden en el desempeño de los deberes requeridos por la misma, no incluya en sus ingresos las cantidades entregadas a la orden. Free tax preparation 2012   Si su orden le manda prestar servicios para otra entidad de la iglesia supervisora o una institución asociada, se considera que presta los servicios en representación de la orden. Free tax preparation 2012 Los sueldos o salarios que gane en representación de una orden, y que le entregue a la misma, no se incluyen en sus ingresos. Free tax preparation 2012 Ejemplo. Free tax preparation 2012 Usted es miembro de una orden religiosa y ha hecho un voto de pobreza. Free tax preparation 2012 Renuncia a todo derecho sobre sus ganancias y le entrega a la orden todo sueldo o salario que gane. Free tax preparation 2012 Usted es enfermero registrado, por lo tanto su orden lo asigna a trabajar en un hospital que es una institución asociada con la iglesia. Free tax preparation 2012 No obstante, se mantiene bajo el mando general y el control de la orden. Free tax preparation 2012 A usted se le considera agente de la orden y los sueldos o salarios que gane en ese hospital y entregue a la orden no se incluyen en los ingresos. Free tax preparation 2012 Servicios prestados fuera de la orden religiosa. Free tax preparation 2012   Si a usted se le instruye que trabaje fuera de la orden, sus servicios no son un desempeño de los deberes requeridos por la orden a menos que dichos servicios cumplan los dos requisitos siguientes: Son tipos de servicios que normalmente son deberes de los miembros de la orden. Free tax preparation 2012 Son parte de los deberes que usted tiene que prestar para la orden, o en nombre de la misma, como su agente. Free tax preparation 2012 Si es empleado de un tercero y presta servicios a éste, se considera que la orden no le exige a usted que preste dichos servicios. Free tax preparation 2012 Las cantidades que reciba por estos servicios se incluyen en sus ingresos, aun si ha hecho un voto de pobreza. Free tax preparation 2012 Ejemplo. Free tax preparation 2012 Marcos Moreno es miembro de una orden religiosa y ha hecho un voto de pobreza. Free tax preparation 2012 Ha renunciado a todo derecho a sus ganancias y se las entrega a la orden. Free tax preparation 2012 Marcos es maestro. Free tax preparation 2012 Sus superiores de la orden le dijeron que obtuviera empleo en una escuela privada exenta de impuestos. Free tax preparation 2012 Marcos se convirtió en un empleado de la escuela y, a solicitud suya, la escuela pagó su salario directamente a la orden. Free tax preparation 2012 Debido a que Marcos es empleado de la escuela, se considera que presta servicios para la escuela en vez de como agente de la orden. Free tax preparation 2012 El salario que gana Marcos por trabajar en la escuela se incluye en sus ingresos. Free tax preparation 2012 Empleador Extranjero Hay reglas especiales que se aplican a personas que trabajan para un empleador extranjero. Free tax preparation 2012 Ciudadano estadounidense. Free tax preparation 2012   Si es ciudadano estadounidense que trabaja en los Estados Unidos para un gobierno extranjero, una organización internacional, una embajada extranjera o cualquier empleador extranjero, tiene que incluir su sueldo en los ingresos. Free tax preparation 2012 Impuestos del Seguro Social y Medicare. Free tax preparation 2012   Está exento de los impuestos del Seguro Social y Medicare para empleados si trabaja en los Estados Unidos para una organización internacional o un gobierno extranjero. Free tax preparation 2012 No obstante, tiene que pagar impuestos sobre el trabajo por cuenta propia sobre sus ingresos por servicios prestados en los Estados Unidos, a pesar de que no trabaja por cuenta propia. Free tax preparation 2012 Esta regla también corresponde si es empleado de una agencia calificada que pertenezca en su totalidad a un gobierno extranjero. Free tax preparation 2012 Empleados de organizaciones internacionales o de gobiernos extranjeros. Free tax preparation 2012   Su remuneración por prestar servicios oficiales a una organización internacional está exenta de impuestos federales sobre los ingresos si no es ciudadano estadounidense o si es ciudadano de las Filipinas (independientemente de si usted es o no ciudadano estadounidense). Free tax preparation 2012   Su remuneración por prestar servicios oficiales a un gobierno extranjero está exenta de impuestos federales sobre los ingresos si se cumplen todas las siguientes condiciones: No es ciudadano estadounidense o es ciudadano filipino (independientemente de que sea o no ciudadano estadounidense). Free tax preparation 2012 Su trabajo se parece al trabajo desempeñado por empleados de los Estados Unidos en países extranjeros. Free tax preparation 2012 El gobierno extranjero ofrece una exención igual a empleados de los Estados Unidos que se encuentren en su país. Free tax preparation 2012 Renuncia al estado de extranjero. Free tax preparation 2012   Podrían corresponderle reglas diferentes si es extranjero que trabaja para un gobierno extranjero o una organización internacional y presenta una renuncia conforme a la sección 247(b) de la Immigration and Nationality Act (Ley de Inmigración y Nacionalidad) para mantener su estado de inmigrante. Free tax preparation 2012 Vea el tema titulado Foreign Employer (Empleador extranjero) en la Publicación 525, en inglés. Free tax preparation 2012 Empleo en el extranjero. Free tax preparation 2012   Para información sobre el trato tributario de los ingresos ganados en el extranjero, obtenga la Publicación 54, en inglés. Free tax preparation 2012 Fuerzas Armadas Los pagos que reciba como miembro de las Fuerzas Armadas suelen estar sujetos a impuestos como sueldo o salario, con excepción del pago de jubilación que está sujeto a impuestos como una pensión. Free tax preparation 2012 A las asignaciones generalmente no se les gravan impuestos. Free tax preparation 2012 Para información sobre el trato tributario de las asignaciones y beneficios militares, obtenga la Publicación 3, Armed Forces' Tax Guide (Guía tributaria para las Fuerzas Armadas), en inglés. Free tax preparation 2012 Pagos de salarios diferenciales. Free tax preparation 2012   Si una persona que presta servicio activo como miembro de las Fuerzas Armadas recibe pagos de un empleador correspondientes a cualquier período de dicho servicio, éstos se tratan como remuneración. Free tax preparation 2012 Estos salarios están sujetos a la retención del impuesto sobre los ingresos y se declaran en el Formulario W-2. Free tax preparation 2012 Vea la sección Otras Clases de Remuneración , anteriormente. Free tax preparation 2012 Pagos de la jubilación militar. Free tax preparation 2012   Si sus pagos de jubilación se basan en edad o duración de servicio, están sujetos a impuestos y tienen que incluirse en sus ingresos como una pensión en las líneas 16a y 16b del Formulario 1040, o en las líneas 12a y 12b del Formulario 1040A. Free tax preparation 2012 No incluya en los ingresos ninguna reducción de pago de jubilación o anticipo para proveer una anualidad de sobreviviente para su cónyuge o hijos conforme al Retired Serviceman's Family Protection Plan (Plan de protección para las familias de militares jubilados) o el Survivor Benefit Plan (Plan de beneficios para sobrevivientes). Free tax preparation 2012   Para una explicación más detallada sobre las anualidades para sobrevivientes, vea el capítulo 10 . Free tax preparation 2012 Incapacidad. Free tax preparation 2012   Si se jubiló por incapacidad, vea el tema titulado Pensiones Militares y Gubernamentales por Incapacidad bajo Beneficios por Enfermedad y Lesiones, más adelante. Free tax preparation 2012 Beneficios para veteranos. Free tax preparation 2012   No incluya en sus ingresos beneficio alguno para veteranos pagado conforme a alguna ley, reglamento o práctica administrativa administrada por el Departamento de Asuntos de Veteranos (VA, por sus siglas en inglés). Free tax preparation 2012 Las cantidades siguientes pagadas a veteranos o a sus familias no están sujetas a impuestos: Asignaciones para educación, capacitación y subsistencia. Free tax preparation 2012 Pagos de compensación por incapacidad y pagos de pensión por incapacidad hechos a veteranos o a sus familias. Free tax preparation 2012 Subvenciones para casas diseñadas para habitantes en silla de ruedas. Free tax preparation 2012 Subvenciones para vehículos motorizados para veteranos que han perdido la vista o el uso de sus extremidades. Free tax preparation 2012 Ganancias y dividendos de seguros pagados a veteranos o a sus beneficiarios, incluyendo las ganancias de una póliza de seguro dotal para veteranos pagadas antes del fallecimiento. Free tax preparation 2012 Intereses sobre dividendos de seguros que deje en depósito en el Departamento de Asuntos de Veteranos. Free tax preparation 2012 Beneficios de un programa para el cuidado de dependientes. Free tax preparation 2012 La prestación pagada al sobreviviente de un miembro de las Fuerzas Armadas que falleció después del 10 de septiembre de 2001. Free tax preparation 2012 Pagos hechos conforme al programa de terapia laboral remunerada. Free tax preparation 2012 Todo pago de bonificación de un estado o subdivisión política por servicios prestados en una zona de combate. Free tax preparation 2012 Voluntarios El trato tributario de las cantidades que reciba como trabajador voluntario del Cuerpo de Paz o una agencia similar se trata en los párrafos siguientes. Free tax preparation 2012 Cuerpo de Paz. Free tax preparation 2012   Las asignaciones de subsistencia que reciba como voluntario del Cuerpo de Paz, o como líder voluntario del mismo, por concepto de vivienda, servicios públicos, suministros para el hogar, alimento y ropa están exentas de impuestos. Free tax preparation 2012 Asignaciones sujetas a impuestos. Free tax preparation 2012   Las asignaciones siguientes tienen que incluirse en sus ingresos y declararse como salario: Asignaciones pagadas a su cónyuge e hijos menores de edad mientras usted es líder voluntario en capacitación en los Estados Unidos. Free tax preparation 2012 Asignaciones para subsistencia designadas por el Director del Cuerpo de Paz como remuneración básica. Free tax preparation 2012 Éstas son asignaciones para artículos personales como ayuda con los quehaceres domésticos, lavado y mantenimiento de ropa, entretenimiento y recreación, transporte y otros gastos misceláneos. Free tax preparation 2012 Asignaciones para permisos o licencias (por vacaciones o enfermedad). Free tax preparation 2012 Asignaciones de reajuste o pagos de terminación. Free tax preparation 2012 Se considera que éstas son recibidas por usted cuando se abonan a su cuenta. Free tax preparation 2012 Ejemplo. Free tax preparation 2012 Gastón Carranza, un voluntario del Cuerpo de Paz, recibe $175 mensuales como asignación de reajuste durante el período de servicio, a serle pagada en una suma global al concluir su período de servicio. Free tax preparation 2012 Aunque la asignación no está a su disposición hasta concluir su servicio, Gastón tiene que incluirla en sus ingresos cada mes cuando se acredite a su cuenta. Free tax preparation 2012 Volunteers in Service to America (Voluntarios del servicio para los Estados Unidos de América o VISTA, por sus siglas en inglés). Free tax preparation 2012   Si es voluntario del programa Volunteers in Service to America (Voluntarios del servicio para los Estados Unidos de América), tiene que incluir las asignaciones para comidas y alojamiento en los ingresos como salario. Free tax preparation 2012 Programas del National Senior Services Corps (Cuerpo nacional de servicios prestados por personas mayores). Free tax preparation 2012   Si recibe dinero por servicios de ayuda o reembolsos por gastos de bolsillo, no lo incluya en sus ingresos si proviene de los siguientes programas: Retired Senior Volunteer Program (o RSVP, por sus siglas en inglés) (Programa de voluntarios mayores jubilados). Free tax preparation 2012 Foster Grandparent Program (Programa de abuelos de crianza). Free tax preparation 2012 Senior Companion Program (Programa de acompañantes de personas mayores). Free tax preparation 2012 Service Corps of Retired Executives (Cuerpo de servicio de ejecutivos jubilados o SCORE, por sus siglas en inglés). Free tax preparation 2012   Si recibe dinero por servicios de ayuda o reembolsos de gastos de bolsillo, no lo incluya en sus ingresos si proviene del Service Corps of Retired Executives (Cuerpo de servicio de ejecutivos jubilados). Free tax preparation 2012 Asesoría voluntaria con los impuestos. Free tax preparation 2012   No incluya en los ingresos reembolso alguno que reciba por transporte, comidas u otros gastos en los que incurra mientras recibe capacitación para proveer, o mientras provee, asesoría voluntaria con los impuestos federales a personas mayores (conocida en inglés como Tax Counseling for the Elderly o TCE, por sus siglas en inglés). Free tax preparation 2012   Puede deducir como donación caritativa los gastos de bolsillo no reembolsados y en los que incurrió mientras tomaba parte en el Volunteer Income Tax Assistance Program (Programa de asistencia voluntaria para la preparación de impuestos sobre el ingreso o VITA, por sus siglas en inglés). Free tax preparation 2012 Vea el capítulo 24 . Free tax preparation 2012 Beneficios por Enfermedad y Lesiones Esta sección aborda diversas clases de beneficios por enfermedad o lesiones, incluyendo beneficios por incapacidad, contratos de seguros para cuidados a largo plazo, compensación del seguro obrero y otros beneficios. Free tax preparation 2012 Generalmente, tiene que declarar como ingresos toda cantidad que reciba por lesiones corporales o enfermedad de un plan de accidentes o de salud que pague su empleador. Free tax preparation 2012 Si usted y su empleador, ambos, pagan por el plan, sólo la cantidad que usted reciba por los pagos hechos por su empleador se declara como ingresos. Free tax preparation 2012 Sin embargo, puede ser que ciertos pagos no se le graven a usted. Free tax preparation 2012 Su empleador debería poder darle los detalles específicos sobre su plan de pensiones e informarle de la cantidad que usted pagó por su pensión por incapacidad. Free tax preparation 2012 Además de las pensiones y anualidades por incapacidad, quizás reciba otros pagos por enfermedad y lesiones. Free tax preparation 2012 No declare como ingresos ninguna cantidad recibida como reembolso de gastos médicos en los que incurrió después de establecerse el plan. Free tax preparation 2012 Costo pagado por usted. Free tax preparation 2012   Si usted paga el costo entero de un plan de salud o de accidente, no incluya como ingresos en su declaración de impuestos ninguna cantidad que reciba del plan por lesiones corporales o enfermedad. Free tax preparation 2012 Si su plan le reembolsó los gastos médicos que usted dedujo en un año anterior, quizás tenga que incluir en los ingresos algunos, o todos, los reembolsos. Free tax preparation 2012 Vea el tema titulado Reembolso en un año posterior , en el capítulo 21. Free tax preparation 2012 Planes flexibles de beneficios (Cafeteria plans). Free tax preparation 2012   Por lo general, si está cubierto por un plan de salud o de accidente a través de un plan flexible de beneficios y las primas del seguro no se incluyeron en los ingresos, se considera que no ha pagado las primas y tiene que incluir en los ingresos todos los beneficios que haya recibido. Free tax preparation 2012 Si las primas se incluyeron en los ingresos, se considera que ha pagado las primas y los beneficios que reciba no están sujetos a impuestos. Free tax preparation 2012 Pensiones por Incapacidad Si se jubiló por incapacidad, tiene que incluir en sus ingresos toda pensión por incapacidad que reciba conforme a un plan pagado por su empleador. Free tax preparation 2012 Tiene que declarar los pagos por incapacidad sujetos a impuestos como salario en la línea 7 del Formulario 1040 o del Formulario 1040A, hasta que usted cumpla la edad mínima para la jubilación. Free tax preparation 2012 La edad mínima para la jubilación es, por lo general, la edad en la cual usted puede recibir por primera vez una pensión o anualidad si no está incapacitado. Free tax preparation 2012 Podría tener derecho a un crédito tributario si estaba permanente y totalmente incapacitado cuando se jubiló. Free tax preparation 2012 Para más información sobre este crédito y la definición de incapacidad total y permanente, vea el capítulo 33. Free tax preparation 2012 A partir del día después de haber cumplido la edad mínima para la jubilación, los pagos que reciba están sujetos a impuestos como pensión o anualidad. Free tax preparation 2012 Declare estos pagos en las líneas 16a y 16b del Formulario 1040 o en las líneas 12a y 12b del Formulario 1040A. Free tax preparation 2012 Para información sobre las reglas para declarar pensiones, vea el tema titulado Cómo Hacer la Declaración , en el capítulo 10. Free tax preparation 2012 Para información sobre los pagos por incapacidad de un programa gubernamental provistos como sustituto de la compensación por desempleo, vea el capítulo 12 . Free tax preparation 2012 Planes de jubilación y de participación en las ganancias. Free tax preparation 2012   Si recibe pagos de un plan de jubilación o de participación en las ganancias que no provee jubilación por incapacidad, no declare los pagos como pensión por incapacidad. Free tax preparation 2012 Los pagos tienen que ser declarados como una pensión o anualidad. Free tax preparation 2012 Para más información sobre las pensiones, vea el capítulo 10 . Free tax preparation 2012 Pago por vacaciones acumuladas. Free tax preparation 2012   Si se jubila por incapacidad, todo pago global que reciba por vacaciones acumuladas se considera pago de sueldo. Free tax preparation 2012 Este pago no es un pago por incapacidad. Free tax preparation 2012 Inclúyalo en sus ingresos en el año tributario en que lo reciba. Free tax preparation 2012 Pensiones Militares y Gubernamentales por Incapacidad Algunas pensiones militares y gubernamentales por incapacidad no están sujetas a impuestos. Free tax preparation 2012 Incapacidad por servicio gubernamental. Free tax preparation 2012