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H&r block free taxes 37. H&r block free taxes   Otros Créditos Table of Contents Qué Hay de Nuevo Introduction Useful Items - You may want to see: Créditos no ReembolsablesCrédito por Adopción Crédito por Vehículo Motorizado Alternativo Crédito por Bienes de Reabastecimiento de Vehículos con Combustible Alternativo Crédito para Titulares de Bonos de Crédito Tributario Crédito por Impuestos Extranjeros Crédito por Intereses Hipotecarios Crédito no Reembolsable del Impuesto Mínimo de Años Anteriores Crédito por Vehículos Enchufables con Motor de Dirección Eléctrica Créditos por Energía de la Propiedad Residencial Crédito por Aportaciones a Cuentas de Ahorro para la Jubilación (Crédito del Ahorrador) Créditos ReembolsablesCrédito por el Impuesto sobre Ganancias de Capital no Distribuidas Crédito Tributario por Cobertura del Seguro Médico Crédito por Retención en Exceso del Impuesto del Seguro Social o del Impuesto de la Jubilación Ferroviaria Qué Hay de Nuevo Crédito por adopción. H&r block free taxes . H&r block free taxes  El crédito máximo por adopción es $12,970 para el año 2013. H&r block free taxes Vea Crédito por Adopción . H&r block free taxes Crédito por vehículo electrónico enchufable. H&r block free taxes  El crédito por vehículos electrónicos enchufables ha vencido. H&r block free taxes Crédito reembolsable del impuesto mínimo de años anteriores. H&r block free taxes   La parte reembolsable del crédito del impuesto mínimo alternativo de años anteriores ha vencido. H&r block free taxes Retención en exceso de los impuestos al Seguro Social y a la jubilación ferroviaria. H&r block free taxes . H&r block free taxes  Tanto los impuestos al Seguro Social como los impuestos del nivel 1 de jubilación ferroviaria (RRTA, por sus siglas en inglés) fueron retenidos de los salarios hasta el límite de $113,700 a una tasa de 6. H&r block free taxes 2% durante 2013. H&r block free taxes Si durante 2013, usted trabajó para más de un empleador y se le retuvo demasiado impuesto al Seguro Social o de jubilación ferroviaria, podría tener derecho a un crédito por la retención en exceso. H&r block free taxes Vea Crédito por Retención en Exceso del Impuesto del Seguro Social o deI Impuesto de la Jubilación Ferroviaria . H&r block free taxes Introduction Este capítulo trata de los siguientes créditos no reembolsables: Crédito por adopción. H&r block free taxes Crédito por vehículo motorizado alternativo. H&r block free taxes Crédito por bienes de reabastecimiento de vehículos con combustible alternativo. H&r block free taxes Crédito para titulares de bonos de crédito tributario. H&r block free taxes Crédito por impuestos extranjeros. H&r block free taxes Crédito por intereses hipotecarios. H&r block free taxes Crédito no reembolsable del impuesto mínimo de años anteriores. H&r block free taxes Crédito por vehículos enchufables con motor de dirección eléctrica. H&r block free taxes Créditos por energía de la propiedad residencial. H&r block free taxes Crédito por aportaciones a arreglos de ahorros para la jubilación. H&r block free taxes Este capítulo trata también de los siguientes créditos reembolsables: Crédito por el impuesto sobre ganancias de capital no distribuidas. H&r block free taxes Crédito tributario por cobertura del seguro médico. H&r block free taxes Crédito por retención en exceso del impuesto del Seguro Social o del impuesto de la jubilación ferroviaria. H&r block free taxes En otros capítulos de esta publicación, se explican otros créditos. H&r block free taxes Crédito por gastos del cuidado de menores y dependientes (capítulo 32). H&r block free taxes Crédito para ancianos o personas incapacitadas (capítulo 33). H&r block free taxes Crédito tributario por hijos (capítulo 34). H&r block free taxes Créditos tributarios por estudios (capítulo 35). H&r block free taxes Crédito por ingreso del trabajo (capítulo 36). H&r block free taxes Créditos no reembolsables. H&r block free taxes   La primera parte de este capítulo, Créditos no Reembolsables , abarca diez créditos que se restan de sus impuestos. H&r block free taxes Puede ser que estos créditos reduzcan los impuestos a cero. H&r block free taxes Si estos créditos superan el total de sus impuestos, no se le devuelve el excedente. H&r block free taxes Créditos reembolsables. H&r block free taxes   La segunda parte de este capítulo, Créditos Reembolsables , abarca tres créditos que se consideran pagos y que le pueden ser reembolsados. H&r block free taxes Estos créditos se agregan a los impuestos federales sobre el ingreso retenidos y todo pago de impuesto estimado que haya hecho. H&r block free taxes Si el total de éstos es superior al total de los impuestos, se le reembolsará el excedente. H&r block free taxes Useful Items - You may want to see: Publicación 502 Medical and Dental Expenses (Gastos médicos y dentales), en inglés 514 Foreign Tax Credit for Individuals (Crédito por impuestos del extranjero para personas físicas), en inglés 530 Tax Information for Homeowners (Información tributaria para propietarios de vivienda), en inglés 590 Individual Retirement Arrangements (IRAs) (Arreglos de ahorros para la jubilación (Arreglos IRA)), en inglés Formulario (e Instrucciones) 1116 Foreign Tax Credit (Crédito por impuestos extranjeros), en inglés 2439 Notice to Shareholder of Undistributed Long-Term Capital Gains (Aviso al accionista de ganancias de capital a largo plazo no distribuidas), en inglés 5695 Residential Energy Credits (Créditos por energía de la propiedad residencial), en inglés 8396 Mortgage Interest Credit (Crédito por intereses hipotecarios), en inglés 8801 Credit For Prior Year Minimum Tax – Individuals, Estates, and Trusts (Crédito del impuesto mínimo de años anteriores–personas físicas, caudales hereditarios o fideicomisos), en inglés 8828 Recapture of Federal Mortgage Subsidy (Recuperación del subsidio hipotecario federal), en inglés 8839 Qualified Adoption Expenses (Gastos de adopción calificados), en inglés 8880 Credit for Qualified Retirement Savings Contributions (Crédito por aportaciones calificadas a arreglos de ahorros para la jubilación), en inglés 8885 Health Coverage Tax Credit (Crédito tributario por cobertura del seguro médico), en inglés 8910 Alternative Motor Vehicle Credit (Crédito por vehículo motorizado alternativo), en inglés 8911 Alternative Fuel Vehicle Refueling Property Credit (Crédito por bienes de reabastecimiento de vehículos de combustible alternativo), en inglés 8912 Credit to Holders of Tax Credit Bonds (Crédito para titulares de bonos de crédito tributario), en inglés 8936 Qualified Plug-In Electric Drive Motor Vehicle Credit (Crédito por vehículos enchufables con motor de dirección eléctrica que reúnen los requisitos), en inglés Créditos no Reembolsables Los créditos tratados en esta parte del capítulo pueden reducir los impuestos. H&r block free taxes No obstante, si el total de estos créditos supera el total de sus impuestos, no se le devuelve el excedente. H&r block free taxes Crédito por Adopción Tal vez pueda tomar un crédito tributario de hasta $12,970 por gastos calificados que se hayan pagado para adoptar a un niño que reúna los requisitos. H&r block free taxes El crédito podría permitirse en el caso de la adopción de un niño con necesidades especiales aunque usted no tenga gastos calificados. H&r block free taxes El crédito se reduce si tiene ingresos brutos modificados (MAGI, por sus siglas en inglés) mayores de $194,580. H&r block free taxes Si tiene ingresos brutos modificados iguales o mayores de $234,580 no puede reclamar el crédito. H&r block free taxes Gastos de adopción calificados. H&r block free taxes   Los gastos de adopción calificados son gastos razonables y necesarios directamente relacionados con la adopción legal de un hijo que reúna los requisitos y cuyo fin sea la adopción legal. H&r block free taxes Dichos gastos abarcan: Honorarios de adopción, Costos judiciales, Honorarios de abogado, Gastos de viaje (incluyendo gastos de comida y alojamiento) mientras esté fuera de casa y Gastos de readopción para adoptar a un niño extranjero. H&r block free taxes Gastos no calificados. H&r block free taxes   Los gastos de adopción calificados no abarcan gastos: Que infrinjan la ley estatal o federal, Para llevar a cabo un acuerdo para autorizar los cuidados de un tutor (o padre sustituto), Por la adopción del hijo de su cónyuge, Para los cuales haya recibido fondos conforme a algún programa federal, estatal o local, Permitidos como crédito o deducción conforme a algún otro requisito de los impuestos federales sobre el ingreso o Pagados o reembolsados por su empleador o alguna otra persona u organización. H&r block free taxes Hijo que reúne los requisitos. H&r block free taxes   El término “hijo que reúne los requisitos” designa a toda persona que: Tenga menos de 18 años de edad o Esté física o mentalmente incapacitada para cuidar de sí misma. H&r block free taxes Hijo con necesidades especiales. H&r block free taxes   Un hijo con necesidades especiales reúne los requisitos si se dan las tres condiciones siguientes: El hijo fue ciudadano o residente de los Estados Unidos (incluyendo posesiones (territorios no autónomos) de los EE. H&r block free taxes UU. H&r block free taxes ) al iniciarse los trámites de adopción. H&r block free taxes Un estado (incluido el Distrito de Columbia) ha determinado que el hijo no puede o no debe ser devuelto al hogar de sus padres. H&r block free taxes El estado ha decidido que el hijo no puede ser adoptado a no ser que se les proporcione ayuda a los padres adoptivos. H&r block free taxes Los factores que los estados usan para llegar a esta determinación incluyen los siguientes: El origen étnico del hijo, La edad del hijo, Si el hijo es miembro de un grupo de minoría o tiene hermanos o hermanas y Si el hijo padece de una afección médica o un impedimento físico, mental o emocional. H&r block free taxes Cuándo reclamar el crédito. H&r block free taxes   Generalmente, hasta finalizar la adopción, se toma el crédito en el año siguiente al año en el que se hayan ocasionado o pagado los gastos calificados. H&r block free taxes Si se concluye el proceso de adopción, reclame el crédito en el año en el que se hayan ocasionado o pagado los gastos. H&r block free taxes Vea las Instrucciones del Formulario 8839 para más información sobre cuándo se debe reclamar el crédito. H&r block free taxes Hijo extranjero. H&r block free taxes   Si el hijo no es ciudadano o residente de los EE. H&r block free taxes UU. H&r block free taxes al empezar los trámites de adopción, usted no puede reclamar el crédito a menos que concluya el proceso de adopción. H&r block free taxes Todo gasto de adopción que se haya ocasionado o pagado en años anteriores al finalizar el proceso de adopción se considera ocasionado o pagado en el año en que se concluya dicho proceso. H&r block free taxes Cómo reclamar el crédito. H&r block free taxes   Calcule su crédito no reembolsable de 2013 y cualquier crédito que está traspasando a el 2014 en el Formulario 8839 y adjúntelo a su Formulario 1040. H&r block free taxes Incluya el crédito en el total de la línea 53 del Formulario 1040. H&r block free taxes Marque la casilla c y anote “8839” en la línea que se encuentra junto a esa casilla. H&r block free taxes Más información. H&r block free taxes   Para información adicional, vea las Instrucciones del Formulario 8839, en inglés. H&r block free taxes Crédito por Vehículo Motorizado Alternativo Quizás pueda reclamar este crédito si pone en uso un vehículo motorizado de pila de combustible calificado en 2013. H&r block free taxes Cantidad del crédito. H&r block free taxes   Generalmente, puede basarse en la certificación del fabricante al IRS para saber si un vehículo de cierta marca, modelo y año reúne los requisitos para el crédito y para la cantidad máxima del mismo por el cual reúne los requisitos. H&r block free taxes Si se trata de un fabricante extranjero, por lo general, puede basarse en la certificación de su distribuidor nacional al IRS. H&r block free taxes    Normalmente, la cantidad del crédito suele ser el 100% del crédito máximo permisible tal y como lo certifique el fabricante (o el distribuidor nacional al IRS). H&r block free taxes Cómo reclamar el crédito. H&r block free taxes   Para tomar el crédito, tiene que completar el Formulario 8910 y adjuntarlo al Formulario 1040. H&r block free taxes Incluya el crédito en el total de la línea 53 del Formulario 1040. H&r block free taxes Marque el recuadro c y anote “8910” en la línea al lado de dicho recuadro. H&r block free taxes Información adicional. H&r block free taxes   Para más información sobre el crédito, vea las Instrucciones del Formulario 8910. H&r block free taxes Crédito por Bienes de Reabastecimiento de Vehículos con Combustible Alternativo Tal vez pueda tomar un crédito si pone en uso en 2013 bienes de reabastecimiento de vehículos con combustible alternativo calificados. H&r block free taxes Bienes de reabastecimiento de vehículos de combustible alternativo calificados. H&r block free taxes   Los bienes de reabastecimiento de vehículos de combustible alternativo calificados son aquéllos (que no sean edificios ni los componentes estructurales de los mismos) que se utilicen para cualquiera de los siguientes: Para almacenar o surtir un combustible alternativo en el tanque de combustible de un vehículo de motor propulsado por dicho combustible, pero sólo si el proceso de almacenamiento o reabastecimiento se lleva a cabo en el sitio donde el combustible se coloca en ese tanque. H&r block free taxes Para recargar un vehículo eléctrico, pero sólo si la propiedad de recarga se encuentra en el lugar donde se recarga el vehículo. H&r block free taxes   Los siguientes son combustibles alternativos: Todo combustible del cual por lo menos el 85% del volumen consiste en uno o más de los siguientes: etanol, gas natural, gas natural comprimido, gas natural licuado, gas licuado de petróleo o hidrógeno. H&r block free taxes Toda mezcla que consista en dos o más de los siguientes: biodiésel, gasóleo (gasolina diésel) o queroseno y de la cual por lo menos el 20% del volumen consiste en biodiésel según determinado sin tener en cuenta cantidad alguna de queroseno. H&r block free taxes Electricidad. H&r block free taxes Cantidad del crédito. H&r block free taxes   Para bienes de uso personal, el crédito suele ser la cantidad menor entre el 30% del costo de dichos bienes o $1,000. H&r block free taxes Para bienes de uso comercial, el crédito suele ser la cantidad menor entre el 30% del costo de dichos bienes o $30,000. H&r block free taxes Cómo reclamar el crédito. H&r block free taxes   Para tomar el crédito, tiene que completar el Formulario 8911 y adjuntarlo al Formulario 1040. H&r block free taxes Incluya el crédito en el total de la línea 53 del Formulario 1040. H&r block free taxes Marque el recuadro c y anote “8911” en la línea al lado de dicho recuadro. H&r block free taxes Información adicional. H&r block free taxes   Para más información sobre el crédito, vea las instrucciones del Formulario 8911, en inglés. H&r block free taxes Crédito para Titulares de Bonos de Crédito Tributario Los bonos de crédito tributario son bonos de los cuales el titular recibe un crédito tributario en vez de los intereses sobre el bono, o una parte de los mismos. H&r block free taxes Tal vez pueda reclamar un crédito si es titular de uno de los siguientes bonos: Bonos de energía limpia y renovable (emitidos antes de 2010). H&r block free taxes Bonos de energía limpia y renovable nuevos. H&r block free taxes Bonos calificados de ahorro de energía. H&r block free taxes Bonos calificados de construcción de escuelas. H&r block free taxes Bonos para zonas de academia calificadas. H&r block free taxes Bonos de construcción de proyectos públicos en los Estados Unidos (Bonos Build America). H&r block free taxes En algunos casos, un emisor puede optar por recibir un crédito correspondiente a los intereses pagados sobre el bono. H&r block free taxes Si el emisor elige esta opción, usted no puede también reclamar un crédito. H&r block free taxes Ingresos procedentes de intereses. H&r block free taxes   La cantidad de todo crédito tributario permitido (calculado antes de aplicarse los límites de responsabilidad tributaria) se tiene que incluir en la declaración como ingresos procedentes de intereses. H&r block free taxes Cómo reclamar el crédito. H&r block free taxes   Complete el Formulario 8912 y adjúntelo al Formulario 1040. H&r block free taxes Incluya el crédito en el total de la línea 53 del Formulario 1040. H&r block free taxes Marque el recuadro c y anote “8912” en la línea al lado de dicho recuadro. H&r block free taxes Información adicional. H&r block free taxes   Para más información, vea las Instrucciones del Formulario 8912, en inglés. H&r block free taxes Crédito por Impuestos Extranjeros Generalmente, puede optar por declarar un crédito por los impuestos sobre el ingreso pagados o acumulados por usted a lo largo del año a un país extranjero o posesión (territorio no autónomo) de los Estados Unidos, aplicándolo como crédito contra el impuesto sobre el ingreso de los Estados Unidos. H&r block free taxes O puede deducirlos como una deducción detallada (vea el capítulo 22). H&r block free taxes No puede reclamar un crédito (ni una deducción) por impuestos sobre el ingreso extranjero pagado sobre ingresos que se excluyan del impuesto de los EE. H&r block free taxes UU. H&r block free taxes en los siguientes casos: Exclusión de ingresos ganados de fuentes en el extranjero. H&r block free taxes Exclusión por concepto de vivienda en el extranjero. H&r block free taxes Ingresos de fuentes en Puerto Rico exentos de impuestos de los Estados Unidos. H&r block free taxes Exclusión en las posesiones (territorios no autónomos) de los Estados Unidos. H&r block free taxes Límite del crédito. H&r block free taxes   A menos que decida no presentar el Formulario 1116 (vea Excepción , más adelante), el crédito por impuestos extranjeros pagados no puede superar los impuestos a pagar al gobierno de los Estados Unidos (línea 44 del Formulario 1040), multiplicados por una fracción. H&r block free taxes El numerador de esta fracción será los ingresos tributables de fuentes fuera de los Estados Unidos. H&r block free taxes El denominador será el total de los ingresos tributables de fuentes en los Estados Unidos y en el extranjero. H&r block free taxes Vea la Publicación 514, en inglés, para más información. H&r block free taxes Cómo reclamar el crédito. H&r block free taxes   Complete el Formulario 1116 y adjúntelo al Formulario 1040. H&r block free taxes Anote el crédito en la línea 47 del Formulario 1040. H&r block free taxes Excepción. H&r block free taxes   No necesita llenar el Formulario 1116 para reclamar el crédito si se dan todas las siguientes condiciones: Todos sus ingresos brutos de fuentes en el extranjero provienen de intereses y dividendos y dichos ingresos en su totalidad más los impuestos extranjeros que se pagaron sobre esos ingresos se les informaron a usted en el Formulario 1099-INT, Formulario 1099-DIV o en el Anexo K-1 (o un documento similar sustitutivo). H&r block free taxes Si usted tuvo ingreso de dividendos provenientes de participación en acciones, usted mantuvo en tenencia dichas acciones por lo menos 16 dias. H&r block free taxes No está presentando el Formulario 4563 ni excluyendo ingresos provenientes de fuentes en Puerto Rico. H&r block free taxes El total de los impuestos extranjeros no era superior a $300 ($600 si es casado que presenta una declaración conjunta). H&r block free taxes Todos sus impuestos extranjeros fueron: Adeudados legalmente y no reunían los requisitos para un reembolso y Pagados a países que son reconocidos como tal por los Estados Unidos y que no apoyan el terrorismo. H&r block free taxes Más información. H&r block free taxes   Para información más detallada acerca del crédito y estos requisitos, vea las Instrucciones del Formulario 1116, en inglés. H&r block free taxes Crédito por Intereses Hipotecarios El crédito por intereses hipotecarios tiene la finalidad de ayudar a personas de bajos recursos a comprar una vivienda. H&r block free taxes Si reúne los requisitos, puede reclamar el crédito cada año para una parte de los intereses hipotecarios de vivienda que pague. H&r block free taxes Quién reúne los requisitos. H&r block free taxes   Tal vez pueda reclamar el crédito si un gobierno estatal o local le emitió un certificado de crédito hipotecario que reúne los requisitos (MCC, por sus siglas en inglés). H&r block free taxes Generalmente, un MCC se emite sólo en relación con una nueva hipoteca para la compra de su vivienda principal. H&r block free taxes Cantidad del crédito. H&r block free taxes   Calcule su crédito en el Formulario 8396. H&r block free taxes Si la cantidad del préstamo hipotecario es igual (o menor que) a la cantidad adeudada confirmada (préstamo) que aparece en el MCC, anote en la línea 1 del Formulario 8396 todos los intereses que haya pagado sobre la hipoteca durante el año. H&r block free taxes   Si la cantidad del préstamo hipotecario es mayor que la cantidad adeudada confirmada que aparece en el MCC, puede calcular el crédito sólo sobre una parte de los intereses que haya pagado. H&r block free taxes Para encontrar la cantidad que debe anotar en la línea 1, multiplique por la siguiente fracción el total de los intereses que haya pagado sobre una hipoteca a lo largo del año. H&r block free taxes      Cantidad adeudada confirmada que aparece en el MCC     Cantidad original de la hipoteca      Límite basado en la tasa de crédito. H&r block free taxes   Si la tasa de crédito del certificado es superior al 20%, el crédito que se le permita no puede sobrepasar $2,000. H&r block free taxes Si dos o más personas (que no sean un matrimonio que presente una declaración conjunta) tienen una participación en la vivienda a la que se refiere el MCC, este límite de $2,000 tiene que dividirse según la participación de cada persona. H&r block free taxes Vea la Publicación 530, en inglés, para información adicional. H&r block free taxes Traspasos a un año posterior. H&r block free taxes   El crédito (luego de aplicar el límite basado en la tasa de crédito) también está sujeto a un límite basado en el impuesto calculado en el Formulario 8396. H&r block free taxes Si el crédito permitido disminuye a causa de este límite sobre los impuestos adeudados, puede traspasar la parte del crédito que no haya utilizado a los 3 próximos años o hasta que se utilice en su totalidad, lo que ocurra primero. H&r block free taxes   Si está sujeto al límite de los $2,000 debido a que la tasa de crédito del certificado es superior al 20%, no puede traspasar a un año posterior ninguna cantidad superior a $2,000 (o, en el caso de que tenga que dividir el crédito, la parte de los $2,000 que le corresponda). H&r block free taxes Cómo reclamar el crédito. H&r block free taxes    Calcule el crédito de 2013, y toda cantidad que se haya traspasado a 2014, en el Formulario 8396 y adjúntelo al Formulario 1040. H&r block free taxes Cerciórese de incluir todo crédito traspasado, correspondiente a 2010, 2011 y 2012. H&r block free taxes   Incluya el crédito en el total de la línea 53 del Formulario 1040. H&r block free taxes Marque el recuadro c y escriba “8396” en la línea al lado de dicho recuadro. H&r block free taxes Reducción de la deducción por intereses sobre una hipoteca de vivienda. H&r block free taxes   Si detalla sus deducciones en el Anexo A del Formulario 1040, tiene que restar la cantidad del crédito por intereses hipotecarios, indicada en la línea 3 del Formulario 8396, de la deducción por intereses sobre una hipoteca de vivienda. H&r block free taxes Tiene que hacerlo aunque parte de dicha cantidad se traspase a 2014. H&r block free taxes Para más información sobre la deducción por intereses sobre una hipoteca de vivienda, vea el capítulo 23. H&r block free taxes Recuperación del subsidio hipotecario federal. H&r block free taxes   Si recibió un MCC junto con el préstamo hipotecario, podría verse obligado a recuperar (reintegrar) todo o parte del beneficio que haya recibido de ese programa. H&r block free taxes Se le podría exigir esta recuperación si vende o enajena su vivienda con ganancias durante los 9 años siguientes al cierre de su préstamo hipotecario. H&r block free taxes Vea las Instrucciones para el Formulario 8828, disponibles en inglés, y el capítulo 15 para más información. H&r block free taxes Más información. H&r block free taxes   Para información más detallada acerca del crédito, vea las instrucciones del Formulario 8396, en inglés. H&r block free taxes Crédito no Reembolsable del Impuesto Mínimo de Años Anteriores La ley tributaria concede un trato especial a ciertos tipos de ingresos y permite deducciones y créditos especiales para algunos tipos de gastos. H&r block free taxes Si se beneficia de estas leyes, podría verse obligado a pagar por lo menos una cantidad mínima de impuestos además de cualquier otro impuesto sobre estas partidas. H&r block free taxes A esto se le llama impuesto mínimo alternativo (AMT, por sus siglas en inglés). H&r block free taxes El trato especial de ciertas partidas de ingresos y gastos sólo le permite aplazar el pago de los impuestos hasta un año posterior. H&r block free taxes Si pagó el impuesto mínimo alternativo en años anteriores a causa de estas partidas tributarias postergadas, tal vez pueda reclamar un crédito por el impuesto mínimo de años anteriores, a favor del impuesto habitual del año en curso. H&r block free taxes Quizás pueda reclamar un crédito y aplicarlo a favor del impuesto habitual si en 2012 tuvo: Impuesto mínimo alternativo adeudado y ajustes o partidas con beneficio tributario que no sean conceptos a excluirse, Un crédito del impuesto mínimo que traspase a 2013 o Un crédito no permitido por vehículos eléctricos calificados. H&r block free taxes Cómo reclamar el crédito. H&r block free taxes    Calcule el crédito no reembolsable de 2013 (de haberlo), y toda cantidad que se haya traspasado a 2014, en el Formulario 8801 y adjúntelo al Formulario 1040. H&r block free taxes Incluya el crédito en el total de la línea 53 del Formulario 1040 y marque el recuadro b. H&r block free taxes Puede traspasar a años posteriores, hasta agotarlo, todo crédito del impuesto mínimo de años anteriores que no se haya utilizado. H&r block free taxes Información adicional. H&r block free taxes   Para más información sobre el crédito, vea las Instrucciones del Formulario 8801, en inglés. H&r block free taxes Crédito por Vehículos Enchufables con Motor de Dirección Eléctrica Es posible que pueda tomar este crédito si, en 2013, puso en uso por fines de negocios o personales un vehículo enchufable con motor de dirección eléctrica o un vehículo eléctrico enchufable de dos o tres ruedas y dicho vehículo reúne los requisitos. H&r block free taxes Vehículos enchufables con motor de dirección eléctrica y que reúnen los requisitos. H&r block free taxes   El vehículo reúne los requisitos si es un vehículo nuevo con, por lo menos, cuatro llantas que: Es impulsado en su mayoría por un motor eléctrico que funciona con electricidad generada por una batería que tenga una capacidad de no menos de 4 kilovatios-horas y se puede recargar mediante una fuente externa de energía y El peso bruto del vehículo es menos de 14,000 libras. H&r block free taxes Vehículos eléctricos enchufables de dos o tres ruedas que reúnen los requisitos. H&r block free taxes   El vehículo reúne los requisitos si es un vehículo nuevo con dos o tres ruedas que: Tiene la capacidad de llegar a una velocidad de 45 millas por hora o más, Es impulsado en su mayoría por un motor eléctrico que funciona con electricidad generada por una batería que tenga una capacidad de no menos de 2. H&r block free taxes 5 kilovatios-horas y se puede recargar mediante una fuente externa de energía y El peso bruto del vehículo es menos de 14,000 libras. H&r block free taxes Certificación y otros requisitos   Generalmente, puede basarse en la certificación del fabricante al IRS (o en el caso de un fabricante extranjero, en la certificación del distribuidor doméstico) para saber si la marca, modelo y años específicos de un vehículo reúnen los requisitos del crédito y, si es aplicable, la cantidad del crédito para el cual califica. H&r block free taxes Sin embargo, si el IRS publica un aviso anunciando que la certificación de alguna marca, modelo y año ha sido retirada, usted no puede basarse en la certificación del vehículo si fue comprado después de la fecha de la publicación del aviso del retiro. H&r block free taxes   También tiene que cumplir los requisitos siguientes para calificar para el crédito: Usted es el dueño del vehículo. H&r block free taxes Si el vehículo es arrendado, sólo el arrendador, y no el arrendatario, tiene derecho al crédito. H&r block free taxes El vehículo fue puesto en servicio en 2013. H&r block free taxes El vehículo es fabricado principalmente para uso en calles, caminos y carreteras públicas. H&r block free taxes El uso original del vehículo comenzó con usted. H&r block free taxes Adquirió el vehículo para utilizarlo usted mismo o para el arrendamiento a un tercero y no para revenderlo. H&r block free taxes En el caso de un vehículo eléctrico enchufable de dos o tres ruedas que reúna los requisitos, el vehículo tiene que haber sido adquirido después de 2011 y antes de 2014. H&r block free taxes Utiliza el vehículo principalmente en los Estados Unidos. H&r block free taxes Cómo reclamar el crédito. H&r block free taxes   Para tomar el crédito, tiene que completar el Formulario 8936 y adjuntarlo a su Formulario 1040. H&r block free taxes Incluya el crédito en el total de la línea 53 del Formulario 1040. H&r block free taxes Marque el recuadro c y anote “8936” en la línea al lado de dicho recuadro. H&r block free taxes    Más información. H&r block free taxes   Para más información acerca del crédito, vea las instrucciones del Formulario 8936, en inglés. H&r block free taxes Créditos por Energía de la Propiedad Residencial Podría tener derecho a uno o los dos siguientes créditos si hizo mejoras para conservar energía en su vivienda ubicada en los Estados Unidos en 2013. H&r block free taxes Crédito tributario por energía de la propiedad no empresarial. H&r block free taxes Crédito de eficiencia energética para propiedades residenciales. H&r block free taxes Si es integrante de un comité de administración de condominios para un condominio del que sea dueño o inquilino-accionista de una sociedad anónima de cooperativa de viviendas, se considera que ha pagado la parte proporcionada que le corresponde de todo costo de tal comité o sociedad anónima para fines de estos créditos. H&r block free taxes Crédito tributario por energía de la propiedad no empresarial. H&r block free taxes   Tal vez pueda tomar un crédito igual a la suma de: El 10% de los costos pagados para mejoras de eficiencia energética instaladas en 2013 y Todo costo pagado o incurrido para energía de la propiedad residencial en 2013. H&r block free taxes   Existe un límite vitalicio de $500 para todos los años posteriores al año 2005, de lo que sólo $200 pueden ser por ventanas; $50 por un ventilador de circulación de aire principal avanzado; $150 por un calentador de agua a base de gas natural propano o petróleo; y $300 por cualquier artículo de eficiencia energética para propiedades residenciales. H&r block free taxes Si la cantidad total de los créditos tributarios por energía de la propiedad no empresarial que ha tomado en años previos (después del 2005) es más de $500, no puede tomar este crédito en el año 2013. H&r block free taxes Las mejoras de eficiencia energética que reúnen los requisitos son las siguientes mejoras siempre y cuando sean nuevas, se espere que sigan en uso por lo menos 5 años y cumplan determinados requisitos de la eficiencia energética: Todo material aislante o sistema que haya sido diseñado expresa y principalmente para reducir la pérdida o el aumento de temperatura (calentamiento) en una vivienda. H&r block free taxes Ventanas exteriores (incluidos tragaluces). H&r block free taxes Puertas exteriores. H&r block free taxes Todo techo de metal o asfalto que tenga capas pigmentadas o gránulos de enfriamiento adecuados que hayan sido diseñados expresa y principalmente para reducir el aumento de temperatura (calentamiento) de la vivienda. H&r block free taxes Se considera que la propiedad de energía residencial es cualquiera de los siguientes aparatos: Determinados calentadores eléctricos de agua con bomba de calor, bombas de calor eléctricas, acondicionadores de aire centrales, calentadores de agua a gas natural, propano o petróleo; y estufas que consumen combustibles de biomasa. H&r block free taxes Calderas de gas natural, propano o petróleo que reúnen los requisitos; y calderas de agua caliente a gas natural, propano o petróleo que reúnen los requisitos. H&r block free taxes Determinados ventiladores de circulación de aire principal avanzados que sean componentes de las calderas de gas natural, propano o petróleo. H&r block free taxes Crédito por energía eficaz de la propiedad residencial. H&r block free taxes   Quizás pueda tomar un crédito del 30% de los costos de propiedad eléctrica de energía solar, propiedad de calentamiento de agua por energía solar, propiedad de pilas de combustible, propiedad eólica de menor tamaño y propiedad de bomba de calor geotérmico. H&r block free taxes En el caso de costos pagados por propiedad de pilas de combustible que reúne los requisitos, la cantidad del crédito está limitada a $500 por cada medio kilovatio de capacidad de dicha propiedad. H&r block free taxes Reducción en la base. H&r block free taxes   Tiene que reducir la base de su vivienda por la cantidad de todo crédito permitido. H&r block free taxes Cómo reclamar el crédito. H&r block free taxes   Complete el Formulario 5695 y adjúntelo al Formulario 1040. H&r block free taxes Anote el crédito en la línea 52 del Formulario 1040. H&r block free taxes Información adicional. H&r block free taxes   Para más información sobre estos créditos, vea las instrucciones del Formulario 5695, en inglés. H&r block free taxes Crédito por Aportaciones a Cuentas de Ahorro para la Jubilación (Crédito del Ahorrador) Podría reclamar este crédito si usted, o su cónyuge si presenta una declaración conjunta, hizo: Aportaciones (que no sean reinversiones) a un arreglo IRA tradicional o un arreglo Roth IRA, Aplazamientos optativos a un plan conforme a la sección 401(k) o 403(b) (incluidas aportaciones a un arreglo designado Roth) o a un plan SEP, SIMPLE o plan gubernamental conforme a la sección 457, Aportaciones voluntarias del empleado a un plan de jubilación que reúna los requisitos (incluido el Thrift Savings Plan (Cuenta de Ahorros de Jubilación) para empleados del gobierno federal) o Aportaciones a un plan conforme a la sección 501(c)(18)(D). H&r block free taxes No obstante, no puede reclamar el crédito si se da cualquiera de las siguientes situaciones: La cantidad de la línea 38 del Formulario 1040 o de la línea 22 del Formulario 1040A es mayor de $29,500 ($44,250 si es cabeza de familia; $59,000 si es casado que presenta una declaración conjunta). H&r block free taxes La persona que hizo la aportación o el aplazamiento optativo que reúne los requisitos (a) nació después del 1 de enero de 1996, (b) ha sido declarado como dependiente en la declaración de impuestos de 2013 de otra persona o (c) era estudiante (se define a continuación). H&r block free taxes Estudiante. H&r block free taxes   Usted era estudiante si, durante alguna parte de cada uno de 5 meses del año natural de 2013: Estaba matriculado en una escuela como estudiante a tiempo completo o Tomó un curso a tiempo completo de capacitación agrícola ofrecido en terreno por una escuela o por una agencia del estado, condado o gobierno local. H&r block free taxes Escuela. H&r block free taxes   El término “escuela” abarca escuelas politécnicas, profesionales e industriales. H&r block free taxes Una escuela no incluye un curso de capacitación en el trabajo, escuela por correspondencia, ni escuelas que ofrecen cursos sólo por Internet. H&r block free taxes Cómo reclamar el crédito. H&r block free taxes   Calcule el crédito en el Formulario 8880. H&r block free taxes Anote el crédito en la línea 50 del Formulario 1040 o la línea 32 del Formulario 1040A y adjunte el Formulario 8880 a su declaración. H&r block free taxes Más información. H&r block free taxes   Para más información sobre el crédito, vea las instrucciones del Formulario 8880, disponibles en inglés. H&r block free taxes Créditos Reembolsables Los créditos explicados en esta parte del capítulo se tratan como pagos de impuestos. H&r block free taxes Si el total de estos créditos, impuestos federales sobre el ingreso retenidos y pagos de su impuesto estimado es mayor al total de sus impuestos, se le puede reembolsar el excedente. H&r block free taxes Crédito por el Impuesto sobre Ganancias de Capital no Distribuidas Tiene que incluir en los ingresos toda cantidad que le hayan asignado sociedades inversionistas reglamentadas (comúnmente llamadas fondos mutuos) o sociedades de inversión inmobiliaria (REIT, por sus siglas en inglés) como distribuciones de ganancias de capital, aunque de hecho no la haya recibido. H&r block free taxes Si el fondo mutuo o sociedad de inversión inmobiliaria pagó impuestos sobre la ganancia de capital, se le permite un crédito por los impuestos ya que se considera que usted lo pagó. H&r block free taxes El fondo mutuo o sociedad de inversión inmobiliaria le enviará el Formulario 2439 indicando su parte de las ganancias de capital no distribuidas y los impuestos pagados, de haberlos. H&r block free taxes Cómo reclamar el crédito. H&r block free taxes   Para reclamar el crédito, adjunte la Copia B del Formulario 2439 a su Formulario 1040. H&r block free taxes Incluya la cantidad de la casilla 2 de su Formulario 2439 en el total de la línea 71 del Formulario 1040 y marque la casilla a. H&r block free taxes Más información. H&r block free taxes   Vea Distribuciones de Ganancias de Capital , en el capítulo 8 para más información sobre ganancias de capital no distribuidas. H&r block free taxes Crédito Tributario por Cobertura del Seguro Médico Tal vez pueda reclamar este crédito para cualquier mes en el que se cumplan todos los siguientes requisitos el primer día del mes: Tenía derecho, como beneficiario, a recibir pagos de asistencia de ajuste comercial (TAA, por sus siglas en inglés), pagos de asistencia alternativa de ajuste comercial (ATAA, por sus siglas en inglés), pagos de asistencia de ajuste comercial relacionados con el reempleo (RTAA, por sus siglas en inglés) o una pensión de la Pension Benefit Guaranty Corporation (Corporación de garantía de beneficios de pensiones o PBGC, por sus siglas en inglés, y definida más adelante); o si era un miembro calificado de la familia de uno de estos individuos cuando dicho individuo falleció o cuando se finalizó su divorcio con uno de estos individuos. H&r block free taxes Usted y/o los miembros de su familia estaban cubiertos por un plan de seguro médico que reúne los requisitos y por el cual pagó la totalidad de las primas o su parte correspondiente directamente a dicho plan o al U. H&r block free taxes S. H&r block free taxes Treasury— HCTC (Tesoro de los Estados Unidos, Crédito por cobertura del seguro médico). H&r block free taxes No estaba inscrito en la Parte A, B o C del seguro Medicare o estaba inscrito en el programa Medicare pero su familia reunió los requisitos para el HCTC. H&r block free taxes No estaba inscrito en el programa Medicaid ni en el Children's Health Insurance Program (Programa de seguro médico para niños, (CHIP, por sus siglas en inglés)). H&r block free taxes No estaba inscrito en el programa Federal Employees Health Benefits (Seguro médico para empleados federales o FEHBP, por sus siglas en inglés) ni tenía derecho a recibir beneficios conforme al sistema médico militar de los EE. H&r block free taxes UU. H&r block free taxes (conocido en inglés como TRICARE). H&r block free taxes No estaba encarcelado por las autoridades federales, estatales o locales. H&r block free taxes Su empleador no pagó el 50% o más del costo de la cobertura. H&r block free taxes No recibió una reducción del 65% de una prima de COBRA de parte de su antiguo empleador o administrador de COBRA. H&r block free taxes Sin embargo, no puede tomar el crédito si otra persona lo puede reclamar a usted como dependiente en su declaración de impuestos de 2013. H&r block free taxes Si cumple todas estas condiciones, tal vez pueda tomar un crédito de hasta el 72. H&r block free taxes 5% de la cantidad que usted pagó directamente a un plan de salud calificado para usted y todo miembro de familia que reunió los requisitos. H&r block free taxes No puede tomar el crédito en el caso de primas de seguro sobre cobertura si en realidad fueron pagadas mediante una National Emergency Grant (Subvención para Emergencias Nacionales). H&r block free taxes La cantidad pagada por cobertura de seguro médico calificada tiene que reducirse por toda distribución de una cuenta Archer MSA de ahorros médicos u otra cuenta de ahorros para gastos médicos que se haya utilizado para pagar por dicha cobertura. H&r block free taxes Puede tomar este crédito y anotarlo en la declaración de impuestos o solicitar que se pague por adelantado en nombre suyo a su compañía de seguros. H&r block free taxes Si se paga el crédito por adelantado en nombre suyo, aquella cantidad disminuye la cantidad del crédito que se pueda declarar en la declaración de impuestos. H&r block free taxes Beneficiarios de la TAA. H&r block free taxes   Se considera que tiene derecho a la TAA el primer día del mes si, cualquier día de dicho mes o del anterior, usted: Recibió una asignación por reajuste comercial o Hubiera tenido derecho a recibir una asignación de esta índole salvo que no había agotado todos los derechos al seguro por desempleo (con excepción de toda compensación adicional que se pague con fondos estatales y no se reembolse con fondos federales) que le correspondiera recibir (o correspondería recibir si los solicitara). H&r block free taxes Ejemplo. H&r block free taxes   Recibió una asignación por ajuste comercial para el mes de enero de 2013. H&r block free taxes Tenía derecho a recibir la TAA el primer día de enero y febrero. H&r block free taxes Beneficiarios de la alternativa TAA. H&r block free taxes   Se considera que es un recipiente de la alternativa TAA el primer día del mes si, cualquier día de dicho mes o del anterior, usted recibió beneficios conforme a un programa de asistencia alternativa de ajuste comercial para empleados mayores de edad establecido por el Departamento de Trabajo. H&r block free taxes Ejemplo. H&r block free taxes   Recibió beneficios conforme a un programa de asistencia alternativa de ajuste comercial para empleados mayores de edad para el mes de octubre de 2013. H&r block free taxes El Departamento de Trabajo estableció el programa. H&r block free taxes Tenía derecho como beneficiario a recibir la alternativa TAA el primer día de octubre y noviembre. H&r block free taxes Beneficiarios de la RTAA. H&r block free taxes   Se considera que tiene derecho a la RTAA el primer día del mes si, cualquier día de dicho mes o del anterior, usted recibió beneficios conforme a un programa de asistencia de ajuste comercial relacionados con el reempleo para empleados mayores establecido por el Departamento de Trabajo. H&r block free taxes Beneficiarios de una pensión de la PBGC. H&r block free taxes   Se considera que tiene derecho como beneficiario a una pensión de la PBGC el primer día del mes si se dan las dos condiciones siguientes: Tenía 55 años de edad o más el primer día del mes. H&r block free taxes Recibió beneficios para dicho mes pagados por la PBGC conforme al Título IV de la Employee Retirement Income Security Act of 1974 (Ley de Seguridad de los Ingresos de Jubilación del Empleado de 1974 o ERISA, por sus siglas en inglés). H&r block free taxes Si recibió un pago de suma global de la PGBC después del 5 de agosto de 2002, cumple el requisito (2) anterior para todo mes en el que habría recibido un beneficio de la PBGC si no hubiese recibido el pago de suma global. H&r block free taxes Cómo reclamar el crédito. H&r block free taxes   Para tomar el crédito, tiene que completar el Formulario 8885 y adjuntarlo al Formulario 1040. H&r block free taxes Incluya el crédito en el total de la línea 71 del Formulario 1040 y marque el recuadro c. H&r block free taxes   Tiene que adjuntar cuentas de seguro de salud (o cupones de pago de COBRA) y pruebas de pago correspondientes a toda cantidad que se incluya en la línea 2 del Formulario 8885. H&r block free taxes Para información adicional, vea la Publicación 502 o el Formulario 8885, ambos en inglés. H&r block free taxes Más información. H&r block free taxes   Si desea ver las definiciones y los requisitos especiales, incluyendo los que se refieren a planes de seguro médico que reúnan los requisitos, familiares que podrían darle derecho al crédito (familiares calificados), el efecto de determinados sucesos importantes en la vida y planes de seguro médico provistos por el empleador, vea la Publicación 502 y las instrucciones del Formulario 8885, ambas en inglés. H&r block free taxes Crédito por Retención en Exceso del Impuesto del Seguro Social o del Impuesto de la Jubilación Ferroviaria La mayoría de los empleadores tienen que retener el impuesto del Seguro Social de los salarios de sus empleados. H&r block free taxes Si trabaja para un empleador ferroviario, dicho empleador tiene que retener el impuesto de jubilación ferroviaria (RRTA, por sus siglas en inglés) de nivel 1 y de nivel 2. H&r block free taxes Si trabajó para dos o más empleadores en 2013, es posible que hayan retenido de su salario demasiado impuesto del Seguro Social. H&r block free taxes Si uno o mas de esos empleadores era un empleador ferroviario, también es posible que se le haya retenido demasiado impuesto de jubilación ferroviaria de nivel 1 a la tasa de 6. H&r block free taxes 2%. H&r block free taxes Puede declarar el impuesto del Seguro Social o impuesto de jubilación ferroviaria de nivel 1 en exceso, aplicándolo como crédito a favor de los impuestos sobre los ingresos cuando presente su declaración. H&r block free taxes Para el impuesto RRTA de nivel 1, utilice únicamente la porción de impuesto de RRTA de nivel 1 que fue gravado a la tasa impositiva de 6. H&r block free taxes 2% al calcular si el exceso de impuesto de RRTA de nivel 1 fue retenido, no incluya ninguna porción del impuesto de RRTA de nivel 1 que fue retenido a la tasa impositiva de Medicare (1. H&r block free taxes 45%) o al a tasa impositiva del Impuesto Adicional del Medicare (0. H&r block free taxes 9%). H&r block free taxes En la siguiente tabla aparecen la cantidad máxima de salario sujeto a impuestos y la cantidad máxima de impuestos que debió haberse retenido para 2013. H&r block free taxes Tipo de impuesto Salario  máximo  sujeto a  impuestos Impuesto máximo que debió haberse retenido Seguro Social o  RRTA de nivel 1 $113,700 $7,049. H&r block free taxes 40 RRTA de nivel 2 $84,300 $3,709. H&r block free taxes 20 Todo salario está sujeto a la retención de impuestos al Medicare. H&r block free taxes   Utilice el Formulario 843, Claim for Refund and Request for Abatement (Solicitud de reembolso y reducción de impuestos), en inglés, para solicitar un reembolso del impuesto en exceso de la jubilación ferroviaria de nivel 2. H&r block free taxes Cerciórese de adjuntar una copia de todos los Formularios W-2 que tenga. H&r block free taxes Use la hoja de trabajo 3-3 de la Publicación 505, Tax Withholding and Estimated Tax (Retención de impuestos e impuesto estimado), en inglés, para poder calcular la cantidad en exceso. H&r block free taxes Error del empleador. H&r block free taxes   Si cualquier empleador le retuvo demasiados impuestos del Seguro Social o de la jubilación ferroviaria de nivel 1, no puede reclamar el exceso y aplicarlo como un crédito a favor de los impuestos sobre el ingreso. H&r block free taxes El empleador debe ajustarle los impuestos. H&r block free taxes Si el empleador no ajusta la recaudación en exceso, puede solicitar un reembolso utilizando el Formulario 843. H&r block free taxes Declaración conjunta. H&r block free taxes   Si presenta una declaración conjunta, no puede añadir a la cantidad retenida de su salario los impuestos del Seguro Social ni los de la jubilación ferroviaria de nivel 1 retenidos del salario de su cónyuge. H&r block free taxes Calcule por separado la retención que le corresponda a usted y la que corresponda a su cónyuge para determinar si se le han retenido impuestos en exceso a cualquiera de los dos. H&r block free taxes Cómo calcular el crédito si no trabajó para una empresa ferroviaria. H&r block free taxes   Si no trabajó para una empresa ferroviaria en 2013, calcule el crédito de la siguiente forma: 1. H&r block free taxes Sume todos los impuestos del Seguro Social retenidos (pero no más de $7,049. H&r block free taxes 40 por cada empleador). H&r block free taxes Anote el total aquí   2. H&r block free taxes Anote todo impuesto no retenido del Seguro Social sobre propinas o seguro de vida colectivo a término que aparezca en el total de la línea 60 del Formulario 1040, identificado como “UT”   3. H&r block free taxes Sume las líneas 1 y 2. H&r block free taxes Si el total es $7,049. H&r block free taxes 40 o menos, no siga. H&r block free taxes No puede reclamar el crédito   4. H&r block free taxes Límite sobre los impuestos del Seguro Social 7,049. H&r block free taxes 40 5. H&r block free taxes Crédito. H&r block free taxes De la línea 3, reste la línea 4. H&r block free taxes Anote el resultado aquí y en la línea 69 del Formulario 1040 (o la línea 41 del Formulario 1040A) $ Ejemplo. H&r block free taxes Está casado y presenta una declaración conjunta con su cónyuge quien no recibió ingresos brutos en 2013. H&r block free taxes Durante 2013, usted trabajó para la empresa Brown Technology Company y ganó un salario de $60,000. H&r block free taxes Le retuvieron impuestos del Seguro Social de $3,720. H&r block free taxes También trabajó para otro empleador en 2013 y ganó un salario de $55,000. H&r block free taxes De dicho salario, le retuvieron $3,410 de impuestos del Seguro Social. H&r block free taxes Como trabajó para más de un empleador y el total de su salario superó los $113,700, puede tomar un crédito de $80. H&r block free taxes 60 por los impuestos del Seguro Social retenidos en exceso. H&r block free taxes 1. H&r block free taxes Sume todo impuesto del Seguro Social retenido (pero no más de $7,049. H&r block free taxes 40 por cada empleador). H&r block free taxes Anote el total aquí $7,130. H&r block free taxes 00 2. H&r block free taxes Anote todo impuesto no retenido del Seguro Social sobre propinas o seguro de vida colectivo a término que aparezca en el total de la línea 60 del Formulario 1040, identificado como “UT” −0− 3. H&r block free taxes Sume las líneas 1 y 2. H&r block free taxes Si el total es $7,049. H&r block free taxes 40 o menos, no siga. H&r block free taxes No puede reclamar el crédito 7,130. H&r block free taxes 00 4. H&r block free taxes Límite sobre los impuestos del Seguro Social 7,049. H&r block free taxes 40 5. H&r block free taxes Crédito. H&r block free taxes De la línea 3, reste la línea 4. H&r block free taxes Anote el resultado aquí y en la línea 69 del Formulario 1040 (o la línea 41 del Formulario 1040A) $80. H&r block free taxes 60 Cómo calcular el crédito si trabajó para una empresa ferroviaria. H&r block free taxes   Si fue empleado ferroviario en algún momento durante 2013, calcule el crédito de la siguiente forma: 1. H&r block free taxes Sume todos los impuestos del Seguro Social y de la jubilación ferroviaria de nivel 1 retenidos a la tasa de 6. H&r block free taxes 2% (pero no más de $7,049. H&r block free taxes 40 por cada empleador). H&r block free taxes Anote el total aquí   2. H&r block free taxes Anote todos los impuestos no retenidos del Seguro Social y de la jubilación ferroviaria de nivel 1 sobre propinas o seguro de vida colectivo que aparezca en el total de la línea 60 del Formulario 1040, identificado como “UT”   3. H&r block free taxes Sume las líneas 1 y 2. H&r block free taxes Si el total es $7,049. H&r block free taxes 40 o menos, no siga. H&r block free taxes No puede reclamar el crédito   4. H&r block free taxes Límite sobre los impuestos del Seguro Social y de la jubilación ferroviaria de nivel 1 7,049. H&r block free taxes 40 5. H&r block free taxes Crédito. H&r block free taxes De la línea 3, reste la línea 4. H&r block free taxes Anote el resultado aquí y en la línea 69 del Formulario 1040 (o la línea 41 del Formulario 1040A) $ Cómo reclamar el crédito. H&r block free taxes   Anote el crédito en la línea 69 del Formulario 1040 o inclúyalo en el total de la línea 41 del Formulario 1040A. H&r block free taxes Más información. H&r block free taxes   Para información adicional sobre el crédito, vea la Publicación 505, en inglés. H&r block free taxes Prev  Up  Next   Home   More Online Publications
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The H&r Block Free Taxes

H&r block free taxes 14. H&r block free taxes   Sale of Property Table of Contents Reminder Introduction Useful Items - You may want to see: Sales and TradesWhat Is a Sale or Trade? How To Figure Gain or Loss Nontaxable Trades Transfers Between Spouses Related Party Transactions Capital Gains and LossesCapital or Ordinary Gain or Loss Capital Assets and Noncapital Assets Holding Period Nonbusiness Bad Debts Wash Sales Rollover of Gain From Publicly Traded Securities Reminder Foreign income. H&r block free taxes  If you are a U. H&r block free taxes S. H&r block free taxes citizen who sells property located outside the United States, you must report all gains and losses from the sale of that property on your tax return unless it is exempt by U. H&r block free taxes S. H&r block free taxes law. H&r block free taxes This is true whether you reside inside or outside the United States and whether or not you receive a Form 1099 from the payer. H&r block free taxes Introduction This chapter discusses the tax consequences of selling or trading investment property. H&r block free taxes It explains the following. H&r block free taxes What a sale or trade is. H&r block free taxes Figuring gain or loss. H&r block free taxes Nontaxable trades. H&r block free taxes Related party transactions. H&r block free taxes Capital gains or losses. H&r block free taxes Capital assets and noncapital assets. H&r block free taxes Holding period. H&r block free taxes Rollover of gain from publicly traded securities. H&r block free taxes Other property transactions. H&r block free taxes   Certain transfers of property are not discussed here. H&r block free taxes They are discussed in other IRS publications. H&r block free taxes These include the following. H&r block free taxes Sales of a main home, covered in chapter 15. H&r block free taxes Installment sales, covered in Publication 537, Installment Sales. H&r block free taxes Transactions involving business property, covered in Publication 544, Sales and Other Dispositions of Assets. H&r block free taxes Dispositions of an interest in a passive activity, covered in Publication 925, Passive Activity and At-Risk Rules. H&r block free taxes    Publication 550, Investment Income and Expenses (Including Capital Gains and Losses), provides a more detailed discussion about sales and trades of investment property. H&r block free taxes Publication 550 includes information about the rules covering nonbusiness bad debts, straddles, section 1256 contracts, puts and calls, commodity futures, short sales, and wash sales. H&r block free taxes It also discusses investment-related expenses. H&r block free taxes Useful Items - You may want to see: Publication 550 Investment Income and Expenses Form (and Instructions) Schedule D (Form 1040) Capital Gains and Losses 8949 Sales and Other Dispositions of Capital Assets 8824 Like-Kind Exchanges Sales and Trades If you sold property such as stocks, bonds, 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. H&r block free taxes Generally, you should receive the statement by February 15 of the next year. H&r block free taxes It will show the gross proceeds from the sale. H&r block free taxes If you sold a covered security in 2013, your 1099-B (or substitute statement) will show your basis. H&r block free taxes Generally, a covered security is a security you acquired after 2010, with certain exceptions. H&r block free taxes See the Instructions for Form 8949. H&r block free taxes The IRS will also get a copy of Form 1099-B from the broker. H&r block free taxes Use Form 1099-B (or substitute statement received from your broker) to complete Form 8949. H&r block free taxes What Is a Sale or Trade? This section explains what is a sale or trade. H&r block free taxes It also explains certain transactions and events that are treated as sales or trades. H&r block free taxes A sale is generally a transfer of property for money or a mortgage, note, or other promise to pay money. H&r block free taxes A trade is a transfer of property for other property or services and may be taxed in the same way as a sale. H&r block free taxes Sale and purchase. H&r block free taxes   Ordinarily, a transaction is not a trade when you voluntarily sell property for cash and immediately buy similar property to replace it. H&r block free taxes The sale and purchase are two separate transactions. H&r block free taxes But see Like-kind exchanges under Nontaxable Trades, later. H&r block free taxes Redemption of stock. H&r block free taxes   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. H&r block free taxes Dividend versus sale or trade. H&r block free taxes   Whether a redemption is treated as a sale, trade, dividend, or other distribution depends on the circumstances in each case. H&r block free taxes Both direct and indirect ownership of stock will be considered. H&r block free taxes The redemption is treated as a sale or trade of stock if: The redemption is not essentially equivalent to a dividend (see chapter 8), 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. H&r block free taxes Redemption or retirement of bonds. H&r block free taxes   A redemption or retirement of bonds or notes at their maturity is generally treated as a sale or trade. H&r block free taxes   In addition, a significant modification of a bond is treated as a trade of the original bond for a new bond. H&r block free taxes For details, see Regulations section 1. H&r block free taxes 1001-3. H&r block free taxes Surrender of stock. H&r block free taxes   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. H&r block free taxes The surrendering shareholder must reallocate his or her basis in the surrendered shares to the shares he or she retains. H&r block free taxes Worthless securities. H&r block free taxes    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. H&r block free taxes This affects whether your capital loss is long term or short term. H&r block free taxes See Holding Period , later. H&r block free taxes   Worthless securities also include securities that you abandon after March 12, 2008. H&r block free taxes To abandon a security, you must permanently surrender and relinquish all rights in the security and receive no consideration in exchange for it. H&r block free taxes 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. H&r block free taxes    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. H&r block free taxes Do not deduct them in the year the stock became worthless. H&r block free taxes How to report loss. H&r block free taxes    Report worthless securities in Part I or Part II, whichever applies, of Form 8949. H&r block free taxes In column (a), enter “Worthless. H&r block free taxes ”    Report your worthless securities transactions on Form 8949 with the correct box checked for these transactions. H&r block free taxes See Form 8949 and the Instructions for Form 8949. H&r block free taxes For more information on Form 8949 and Schedule D (Form 1040), see Reporting Capital Gains and Losses in chapter 16. H&r block free taxes See also Schedule D (Form 1040), Form 8949, and their separate instructions. H&r block free taxes Filing a claim for refund. H&r block free taxes   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. H&r block free taxes You must use Form 1040X, Amended U. H&r block free taxes S. H&r block free taxes Individual Income Tax Return, to amend your return for the year the security became worthless. H&r block free taxes 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. H&r block free taxes For more information about filing a claim, see Amended Returns and Claims for Refund in chapter 1. H&r block free taxes 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. H&r block free taxes Gain. H&r block free taxes   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. H&r block free taxes Loss. H&r block free taxes   If the adjusted basis of the property you transfer is more than the amount you realize, the difference is a loss. H&r block free taxes Adjusted basis. H&r block free taxes   The adjusted basis of property is your original cost or other original basis properly adjusted (increased or decreased) for certain items. H&r block free taxes See chapter 13 for more information about determining the adjusted basis of property. H&r block free taxes Amount realized. H&r block free taxes   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). H&r block free taxes Amount realized includes the money you receive plus the fair market value of any property or services you receive. H&r block free taxes If you received a note or other debt instrument for the property, see How To Figure Gain or Loss in chapter 4 of Publication 550 to figure the amount realized. H&r block free taxes 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. H&r block free taxes For more information, see Publication 537. H&r block free taxes Fair market value. H&r block free taxes   Fair market value 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. H&r block free taxes Example. H&r block free taxes 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. H&r block free taxes Your gain is $3,000 ($10,000 − $7,000). H&r block free taxes Debt paid off. H&r block free taxes    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. H&r block free taxes This is true even if neither you nor the buyer is personally liable for the debt. H&r block free taxes 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. H&r block free taxes Example. H&r block free taxes You sell stock that you had pledged as security for a bank loan of $8,000. H&r block free taxes Your basis in the stock is $6,000. H&r block free taxes The buyer pays off your bank loan and pays you $20,000 in cash. H&r block free taxes The amount realized is $28,000 ($20,000 + $8,000). H&r block free taxes Your gain is $22,000 ($28,000 − $6,000). H&r block free taxes Payment of cash. H&r block free taxes   If you trade property and cash for other property, the amount you realize is the fair market value of the property you receive. H&r block free taxes Determine your gain or loss by subtracting the cash you pay plus the adjusted basis of the property you trade in from the amount you realize. H&r block free taxes If the result is a positive number, it is a gain. H&r block free taxes If the result is a negative number, it is a loss. H&r block free taxes No gain or loss. H&r block free taxes   You may have to use a basis for figuring gain that is different from the basis used for figuring loss. H&r block free taxes In this case, you may have neither a gain nor a loss. H&r block free taxes See Basis Other Than Cost in chapter 13. H&r block free taxes Nontaxable Trades This section discusses trades that generally do not result in a taxable gain or deductible loss. H&r block free taxes For more information on nontaxable trades, see chapter 1 of Publication 544. H&r block free taxes Like-kind exchanges. H&r block free taxes   If you trade business or investment property for other business or investment property of a like kind, you do not pay tax on any gain or deduct any loss until you sell or dispose of the property you receive. H&r block free taxes To be nontaxable, a trade must meet all six of the following conditions. H&r block free taxes The property must be business or investment property. H&r block free taxes You must hold both the property you trade and the property you receive for productive use in your trade or business or for investment. H&r block free taxes Neither property may be property used for personal purposes, such as your home or family car. H&r block free taxes The property must not be held primarily for sale. H&r block free taxes The property you trade and the property you receive must not be property you sell to customers, such as merchandise. H&r block free taxes The property must not be stocks, bonds, notes, choses in action, certificates of trust or beneficial interest, or other securities or evidences of indebtedness or interest, including partnership interests. H&r block free taxes However, see Special rules for mutual ditch, reservoir, or irrigation company stock, in chapter 4 of Publication 550 for an exception. H&r block free taxes Also, you can have a nontaxable trade of corporate stocks under a different rule, as discussed later. H&r block free taxes There must be a trade of like property. H&r block free taxes The trade of real estate for real estate, or personal property for similar personal property, is a trade of like property. H&r block free taxes The trade of an apartment house for a store building, or a panel truck for a pickup truck, is a trade of like property. H&r block free taxes The trade of a piece of machinery for a store building is not a trade of like property. H&r block free taxes Real property located in the United States and real property located outside the United States are not like property. H&r block free taxes Also, personal property used predominantly within the United States and personal property used predominantly outside the United States are not like property. H&r block free taxes The property to be received must be identified in writing within 45 days after the date you transfer the property given up in the trade. H&r block free taxes The property to be received must be received by the earlier of: The 180th day after the date on which you transfer the property given up in the trade, or The due date, including extensions, for your tax return for the year in which the transfer of the property given up occurs. H&r block free taxes    If you trade property with a related party in a like-kind exchange, a special rule may apply. H&r block free taxes See Related Party Transactions , later in this chapter. H&r block free taxes Also, see chapter 1 of Publication 544 for more information on exchanges of business property and special rules for exchanges using qualified intermediaries or involving multiple properties. H&r block free taxes Partly nontaxable exchange. H&r block free taxes   If you receive money or unlike property in addition to like property, and the above six conditions are met, you have a partly nontaxable trade. H&r block free taxes You are taxed on any gain you realize, but only up to the amount of the money and the fair market value of the unlike property you receive. H&r block free taxes You cannot deduct a loss. H&r block free taxes Like property and unlike property transferred. H&r block free taxes   If you give up unlike property in addition to the like property, you must recognize gain or loss on the unlike property you give up. H&r block free taxes The gain or loss is the difference between the adjusted basis of the unlike property and its fair market value. H&r block free taxes Like property and money transferred. H&r block free taxes   If all of the above conditions (1) – (6) are met, you have a nontaxable trade even if you pay money in addition to the like property. H&r block free taxes Basis of property received. H&r block free taxes   To figure the basis of the property received, see Nontaxable Exchanges in chapter 13. H&r block free taxes How to report. H&r block free taxes   You must report the trade of like property on Form 8824. H&r block free taxes If you figure a recognized gain or loss on Form 8824, report it on Schedule D (Form 1040), or on Form 4797, Sales of Business Property, whichever applies. H&r block free taxes See the instructions for Line 22 in the Instructions for Form 8824. H&r block free taxes   For information on using Form 4797, see chapter 4 of Publication 544. H&r block free taxes Corporate stocks. H&r block free taxes   The following trades of corporate stocks generally do not result in a taxable gain or a deductible loss. H&r block free taxes Corporate reorganizations. H&r block free taxes   In some instances, a company will give you common stock for preferred stock, preferred stock for common stock, or stock in one corporation for stock in another corporation. H&r block free taxes If this is a result of a merger, recapitalization, transfer to a controlled corporation, bankruptcy, corporate division, corporate acquisition, or other corporate reorganization, you do not recognize gain or loss. H&r block free taxes Stock for stock of the same corporation. H&r block free taxes   You can exchange common stock for common stock or preferred stock for preferred stock in the same corporation without having a recognized gain or loss. H&r block free taxes This is true for a trade between two stockholders as well as a trade between a stockholder and the corporation. H&r block free taxes Convertible stocks and bonds. H&r block free taxes   You generally will not have a recognized gain or loss if you convert bonds into stock or preferred stock into common stock of the same corporation according to a conversion privilege in the terms of the bond or the preferred stock certificate. H&r block free taxes Property for stock of a controlled corporation. H&r block free taxes   If you transfer property to a corporation solely in exchange for stock in that corporation, and immediately after the trade you are in control of the corporation, you ordinarily will not recognize a gain or loss. H&r block free taxes This rule applies both to individuals and to groups who transfer property to a corporation. H&r block free taxes It does not apply if the corporation is an investment company. H&r block free taxes   For this purpose, to be in control of a corporation, you or your group of transferors must own, immediately after the exchange, at least 80% of the total combined voting power of all classes of stock entitled to vote and at least 80% of the outstanding shares of each class of nonvoting stock of the corporation. H&r block free taxes   If this provision applies to you, you may have to attach to your return a complete statement of all facts pertinent to the exchange. H&r block free taxes For details, see Regulations section 1. H&r block free taxes 351-3. H&r block free taxes Additional information. H&r block free taxes   For more information on trades of stock, see Nontaxable Trades in chapter 4 of Publication 550. H&r block free taxes Insurance policies and annuities. H&r block free taxes   You will not have a recognized gain or loss if the insured or annuitant is the same under both contracts and you trade: A life insurance contract for another life insurance contract or for an endowment or annuity contract or for a qualified long-term care insurance contract, An endowment contract for another endowment contract that provides for regular payments beginning at a date no later than the beginning date under the old contract or for an annuity contract or for a qualified long-term insurance contract, An annuity contract for annuity contract or for a qualified long-term care insurance contract, or A qualified long-term care insurance contract for a qualified long-term care insurance contract. H&r block free taxes   You also may not have to recognize gain or loss on an exchange of a portion of an annuity contract for another annuity contract. H&r block free taxes For transfers completed before October 24, 2011, see Revenue Ruling 2003-76 in Internal Revenue Bulletin 2003-33 and Revenue Procedure 2008-24 in Internal Revenue Bulletin 2008-13. H&r block free taxes Revenue Ruling 2003-76 is available at www. H&r block free taxes irs. H&r block free taxes gov/irb/2003-33_IRB/ar11. H&r block free taxes html. H&r block free taxes Revenue Procedure 2008-24 is available at www. H&r block free taxes irs. H&r block free taxes gov/irb/2008-13_IRB/ar13. H&r block free taxes html. H&r block free taxes For transfers completed on or after October 24, 2011, see Revenue Ruling 2003-76, above, and Revenue Procedure 2011-38, in Internal Revenue Bulletin 2011-30. H&r block free taxes Revenue Procedure 2011-38 is available at www. H&r block free taxes irs. H&r block free taxes gov/irb/2011-30_IRB/ar09. H&r block free taxes html. H&r block free taxes   For tax years beginning after December 31, 2010, amounts received as an annuity for a period of 10 years or more, or for the lives of one or more individuals, under any portion of an annuity, endowment, or life insurance contract, are treated as a separate contract and are considered partial annuities. H&r block free taxes A portion of an annuity, endowment, or life insurance contract may be annuitized, provided that the annuitization period is for 10 years or more or for the lives of one or more individuals. H&r block free taxes The investment in the contract is allocated between the part of the contract from which amounts are received as an annuity and the part of the contract from which amounts are not received as an annuity. H&r block free taxes   Exchanges of contracts not included in this list, such as an annuity contract for an endowment contract, or an annuity or endowment contract for a life insurance contract, are taxable. H&r block free taxes Demutualization of life insurance companies. H&r block free taxes   If you received stock in exchange for your equity interest as a policyholder or an annuitant, you generally will not have a recognized gain or loss. H&r block free taxes See Demutualization of Life Insurance Companies in Publication 550. H&r block free taxes U. H&r block free taxes S. H&r block free taxes Treasury notes or bonds. H&r block free taxes   You can trade certain issues of U. H&r block free taxes S. H&r block free taxes Treasury obligations for other issues designated by the Secretary of the Treasury, with no gain or loss recognized on the trade. H&r block free taxes See Savings bonds traded in chapter 1 of Publication 550 for more information. H&r block free taxes Transfers Between Spouses Generally, no gain or loss is recognized on a transfer of property from an individual to (or in trust for the benefit of) a spouse, or if incident to a divorce, a former spouse. H&r block free taxes This nonrecognition rule does not apply in the following situations. H&r block free taxes The recipient spouse or former spouse is a nonresident alien. H&r block free taxes Property is transferred in trust and liability exceeds basis. H&r block free taxes Gain must be recognized to the extent the amount of the liabilities assumed by the trust, plus any liabilities on the property, exceed the adjusted basis of the property. H&r block free taxes For other situations, see Transfers Between Spouses in chapter 4 of Publication 550. H&r block free taxes Any transfer of property to a spouse or former spouse on which gain or loss is not recognized is treated by the recipient as a gift and is not considered a sale or exchange. H&r block free taxes The recipient's basis in the property will be the same as the adjusted basis of the giver immediately before the transfer. H&r block free taxes This carryover basis rule applies whether the adjusted basis of the transferred property is less than, equal to, or greater than either its fair market value at the time of transfer or any consideration paid by the recipient. H&r block free taxes This rule applies for purposes of determining loss as well as gain. H&r block free taxes Any gain recognized on a transfer in trust increases the basis. H&r block free taxes A transfer of property is incident to a divorce if the transfer occurs within 1 year after the date on which the marriage ends, or if the transfer is related to the ending of the marriage. H&r block free taxes Related Party Transactions Special rules apply to the sale or trade of property between related parties. H&r block free taxes Gain on sale or trade of depreciable property. H&r block free taxes   Your gain from the sale or trade of property to a related party may be ordinary income, rather than capital gain, if the property can be depreciated by the party receiving it. H&r block free taxes See chapter 3 of Publication 544 for more information. H&r block free taxes Like-kind exchanges. H&r block free taxes   Generally, if you trade business or investment property for other business or investment property of a like kind, no gain or loss is recognized. H&r block free taxes See Like-kind exchanges , earlier, under Nontaxable Trades. H&r block free taxes   This rule also applies to trades of property between related parties, defined next under Losses on sales or trades of property. H&r block free taxes However, if either you or the related party disposes of the like property within 2 years after the trade, you both must report any gain or loss not recognized on the original trade on your return filed for the year in which the later disposition occurs. H&r block free taxes See Related Party Transactions in chapter 4 of Publication 550 for exceptions. H&r block free taxes Losses on sales or trades of property. H&r block free taxes   You cannot deduct a loss on the sale or trade of property, other than a distribution in complete liquidation of a corporation, if the transaction is directly or indirectly between you and the following related parties. H&r block free taxes Members of your family. H&r block free taxes This includes only your brothers and sisters, half-brothers and half-sisters, spouse, ancestors (parents, grandparents, etc. H&r block free taxes ), and lineal descendants (children, grandchildren, etc. H&r block free taxes ). H&r block free taxes A partnership in which you directly or indirectly own more than 50% of the capital interest or the profits interest. H&r block free taxes A corporation in which you directly or indirectly own more than 50% in value of the outstanding stock. H&r block free taxes (See Constructive ownership of stock , later. H&r block free taxes ) A tax-exempt charitable or educational organization directly or indirectly controlled, in any manner or by any method, by you or by a member of your family, whether or not this control is legally enforceable. H&r block free taxes   In addition, a loss on the sale or trade of property is not deductible if the transaction is directly or indirectly between the following related parties. H&r block free taxes A grantor and fiduciary, or the fiduciary and beneficiary, of any trust. H&r block free taxes Fiduciaries of two different trusts, or the fiduciary and beneficiary of two different trusts, if the same person is the grantor of both trusts. H&r block free taxes A trust fiduciary and a corporation of which more than 50% in value of the outstanding stock is directly or indirectly owned by or for the trust, or by or for the grantor of the trust. H&r block free taxes A corporation and a partnership if the same persons own more than 50% in value of the outstanding stock of the corporation and more than 50% of the capital interest, or the profits interest, in the partnership. H&r block free taxes Two S corporations if the same persons own more than 50% in value of the outstanding stock of each corporation. H&r block free taxes Two corporations, one of which is an S corporation, if the same persons own more than 50% in value of the outstanding stock of each corporation. H&r block free taxes An executor and a beneficiary of an estate (except in the case of a sale or trade to satisfy a pecuniary bequest). H&r block free taxes Two corporations that are members of the same controlled group. H&r block free taxes (Under certain conditions, however, these losses are not disallowed but must be deferred. H&r block free taxes ) Two partnerships if the same persons own, directly or indirectly, more than 50% of the capital interests or the profit interests in both partnerships. H&r block free taxes Multiple property sales or trades. H&r block free taxes   If you sell or trade to a related party a number of blocks of stock or pieces of property in a lump sum, you must figure the gain or loss separately for each block of stock or piece of property. H&r block free taxes The gain on each item may be taxable. H&r block free taxes However, you cannot deduct the loss on any item. H&r block free taxes Also, you cannot reduce gains from the sales of any of these items by losses on the sales of any of the other items. H&r block free taxes Indirect transactions. H&r block free taxes   You cannot deduct your loss on the sale of stock through your broker if, under a prearranged plan, a related party buys the same stock you had owned. H&r block free taxes This does not apply to a trade between related parties through an exchange that is purely coincidental and is not prearranged. H&r block free taxes Constructive ownership of stock. H&r block free taxes   In determining whether a person directly or indirectly owns any of the outstanding stock of a corporation, the following rules apply. H&r block free taxes Rule 1. H&r block free taxes   Stock directly or indirectly owned by or for a corporation, partnership, estate, or trust is considered owned proportionately by or for its shareholders, partners, or beneficiaries. H&r block free taxes Rule 2. H&r block free taxes   An individual is considered to own the stock directly or indirectly owned by or for his or her family. H&r block free taxes Family includes only brothers and sisters, half-brothers and half-sisters, spouse, ancestors, and lineal descendants. H&r block free taxes Rule 3. H&r block free taxes   An individual owning, other than by applying rule 2, any stock in a corporation is considered to own the stock directly or indirectly owned by or for his or her partner. H&r block free taxes Rule 4. H&r block free taxes   When applying rule 1, 2, or 3, stock constructively owned by a person under rule 1 is treated as actually owned by that person. H&r block free taxes But stock constructively owned by an individual under rule 2 or rule 3 is not treated as owned by that individual for again applying either rule 2 or rule 3 to make another person the constructive owner of the stock. H&r block free taxes Property received from a related party. H&r block free taxes    If you sell or trade at a gain property you acquired from a related party, you recognize the gain only to the extent it is more than the loss previously disallowed to the related party. H&r block free taxes This rule applies only if you are the original transferee and you acquired the property by purchase or exchange. H&r block free taxes This rule does not apply if the related party's loss was disallowed because of the wash sale rules described in chapter 4 of Publication 550 under Wash Sales. H&r block free taxes   If you sell or trade at a loss property you acquired from a related party, you cannot recognize the loss that was not allowed to the related party. H&r block free taxes Example 1. H&r block free taxes Your brother sells you stock for $7,600. H&r block free taxes His cost basis is $10,000. H&r block free taxes Your brother cannot deduct the loss of $2,400. H&r block free taxes Later, you sell the same stock to an unrelated party for $10,500, realizing a gain of $2,900. H&r block free taxes Your reportable gain is $500 (the $2,900 gain minus the $2,400 loss not allowed to your brother). H&r block free taxes Example 2. H&r block free taxes If, in Example 1, you sold the stock for $6,900 instead of $10,500, your recognized loss is only $700 (your $7,600 basis minus $6,900). H&r block free taxes You cannot deduct the loss that was not allowed to your brother. H&r block free taxes Capital Gains and Losses This section discusses the tax treatment of gains and losses from different types of investment transactions. H&r block free taxes Character of gain or loss. H&r block free taxes   You need to classify your gains and losses as either ordinary or capital gains or losses. H&r block free taxes You then need to classify your capital gains and losses as either short term or long term. H&r block free taxes If you have long-term gains and losses, you must identify your 28% rate gains and losses. H&r block free taxes If you have a net capital gain, you must also identify any unrecaptured section 1250 gain. H&r block free taxes   The correct classification and identification helps you figure the limit on capital losses and the correct tax on capital gains. H&r block free taxes Reporting capital gains and losses is explained in chapter 16. H&r block free taxes Capital or Ordinary Gain or Loss If you have a taxable gain or a deductible loss from a transaction, it may be either a capital gain or loss or an ordinary gain or loss, depending on the circumstances. H&r block free taxes Generally, a sale or trade of a capital asset (defined next) results in a capital gain or loss. H&r block free taxes A sale or trade of a noncapital asset generally results in ordinary gain or loss. H&r block free taxes Depending on the circumstances, a gain or loss on a sale or trade of property used in a trade or business may be treated as either capital or ordinary, as explained in Publication 544. H&r block free taxes In some situations, part of your gain or loss may be a capital gain or loss and part may be an ordinary gain or loss. H&r block free taxes Capital Assets and Noncapital Assets For the most part, everything you own and use for personal purposes, pleasure, or investment is a capital asset. H&r block free taxes Some examples are: Stocks or bonds held in your personal account, A house owned and used by you and your family, Household furnishings, A car used for pleasure or commuting, Coin or stamp collections, Gems and jewelry, and Gold, silver, or any other metal. H&r block free taxes Any property you own is a capital asset, except the following noncapital assets. H&r block free taxes Property held mainly for sale to customers or property that will physically become a part of the merchandise for sale to customers. H&r block free taxes For an exception, see Capital Asset Treatment for Self-Created Musical Works , later. H&r block free taxes Depreciable property used in your trade or business, even if fully depreciated. H&r block free taxes Real property used in your trade or business. H&r block free taxes A copyright, a literary, musical, or artistic composition, a letter or memorandum, or similar property that is: Created by your personal efforts, Prepared or produced for you (in the case of a letter, memorandum, or similar property), or Acquired under circumstances (for example, by gift) entitling you to the basis of the person who created the property or for whom it was prepared or produced. H&r block free taxes For an exception to this rule, see Capital Asset Treatment for Self-Created Musical Works , later. H&r block free taxes Accounts or notes receivable acquired in the ordinary course of a trade or business for services rendered or from the sale of property described in (1). H&r block free taxes U. H&r block free taxes S. H&r block free taxes Government publications that you received from the government free or for less than the normal sales price, or that you acquired under circumstances entitling you to the basis of someone who received the publications free or for less than the normal sales price. H&r block free taxes Certain commodities derivative financial instruments held by commodities derivatives dealers. H&r block free taxes Hedging transactions, but only if the transaction is clearly identified as a hedging transaction before the close of the day on which it was acquired, originated, or entered into. H&r block free taxes Supplies of a type you regularly use or consume in the ordinary course of your trade or business. H&r block free taxes Investment Property Investment property is a capital asset. H&r block free taxes Any gain or loss from its sale or trade is generally a capital gain or loss. H&r block free taxes Gold, silver, stamps, coins, gems, etc. H&r block free taxes   These are capital assets except when they are held for sale by a dealer. H&r block free taxes Any gain or loss you have from their sale or trade generally is a capital gain or loss. H&r block free taxes Stocks, stock rights, and bonds. H&r block free taxes   All of these (including stock received as a dividend) are capital assets except when held for sale by a securities dealer. H&r block free taxes However, if you own small business stock, see Losses on Section 1244 (Small Business) Stock , later, and Losses on Small Business Investment Company Stock, in chapter 4 of Publication 550. H&r block free taxes Personal Use Property Property held for personal use only, rather than for investment, is a capital asset, and you must report a gain from its sale as a capital gain. H&r block free taxes However, you cannot deduct a loss from selling personal use property. H&r block free taxes Capital Asset Treatment for Self-Created Musical Works You can elect to treat musical compositions and copyrights in musical works as capital assets when you sell or exchange them if: Your personal efforts created the property, or You acquired the property under circumstances (for example, by gift) entitling you to the basis of the person who created the property or for whom it was prepared or produced. H&r block free taxes You must make a separate election for each musical composition (or copyright in a musical work) sold or exchanged during the tax year. H&r block free taxes You must make the election on or before the due date (including extensions) of the income tax return for the tax year of the sale or exchange. H&r block free taxes You must make the election on Form 8949 by treating the sale or exchange as the sale or exchange of a capital asset, according to Form 8949, Schedule D (Form 1040), and their separate instructions. H&r block free taxes For more information on Form 8949 and Schedule D (Form 1040), see Reporting Capital Gains and Losses in chapter 16. H&r block free taxes See also Schedule D (Form 1040), Form 8949, and their separate instructions. H&r block free taxes You can revoke the election if you have IRS approval. H&r block free taxes To get IRS approval, you must submit a request for a letter ruling under the appropriate IRS revenue procedure. H&r block free taxes See, for example, Rev. H&r block free taxes Proc. H&r block free taxes 2013-1, corrected by Announcement 2013–9, and amplified and modified by Rev. H&r block free taxes Proc. H&r block free taxes 2013–32, available at www. H&r block free taxes irs. H&r block free taxes gov/irb/2013-01_IRB/ar06. H&r block free taxes html. H&r block free taxes Alternatively, you are granted an automatic 6-month extension from the due date of your income tax return (excluding extensions) to revoke the election, provided you timely file your income tax return, and within this 6-month extension period, you file Form 1040X that treats the sale or exchange as the sale or exchange of property that is not a capital asset. H&r block free taxes Discounted Debt Instruments Treat your gain or loss on the sale, redemption, or retirement of a bond or other debt instrument originally issued at a discount or bought at a discount as capital gain or loss, except as explained in the following discussions. H&r block free taxes Short-term government obligations. H&r block free taxes   Treat gains on short-term federal, state, or local government obligations (other than tax-exempt obligations) as ordinary income up to your ratable share of the acquisition discount. H&r block free taxes This treatment applies to obligations with a fixed maturity date not more than 1 year from the date of issue. H&r block free taxes Acquisition discount is the stated redemption price at maturity minus your basis in the obligation. H&r block free taxes   However, do not treat these gains as income to the extent you previously included the discount in income. H&r block free taxes See Discount on Short-Term Obligations in chapter 1 of Publication 550. H&r block free taxes Short-term nongovernment obligations. H&r block free taxes   Treat gains on short-term nongovernment obligations as ordinary income up to your ratable share of original issue discount (OID). H&r block free taxes This treatment applies to obligations with a fixed maturity date of not more than 1 year from the date of issue. H&r block free taxes   However, to the extent you previously included the discount in income, you do not have to include it in income again. H&r block free taxes See Discount on Short-Term Obligations in chapter 1 of Publication 550. H&r block free taxes Tax-exempt state and local government bonds. H&r block free taxes   If these bonds were originally issued at a discount before September 4, 1982, or you acquired them before March 2, 1984, treat your part of OID as tax-exempt interest. H&r block free taxes To figure your gain or loss on the sale or trade of these bonds, reduce the amount realized by your part of OID. H&r block free taxes   If the bonds were issued after September 3, 1982, and acquired after March 1, 1984, increase the adjusted basis by your part of OID to figure gain or loss. H&r block free taxes For more information on the basis of these bonds, see Discounted Debt Instruments in chapter 4 of Publication 550. H&r block free taxes   Any gain from market discount is usually taxable on disposition or redemption of tax-exempt bonds. H&r block free taxes If you bought the bonds before May 1, 1993, the gain from market discount is capital gain. H&r block free taxes If you bought the bonds after April 30, 1993, the gain is ordinary income. H&r block free taxes   You figure the market discount by subtracting the price you paid for the bond from the sum of the original issue price of the bond and the amount of accumulated OID from the date of issue that represented interest to any earlier holders. H&r block free taxes For more information, see Market Discount Bonds in chapter 1 of Publication 550. H&r block free taxes    A loss on the sale or other disposition of a tax-exempt state or local government bond is deductible as a capital loss. H&r block free taxes Redeemed before maturity. H&r block free taxes   If a state or local bond issued before June 9, 1980, is redeemed before it matures, the OID is not taxable to you. H&r block free taxes   If a state or local bond issued after June 8, 1980, is redeemed before it matures, the part of OID earned while you hold the bond is not taxable to you. H&r block free taxes However, you must report the unearned part of OID as a capital gain. H&r block free taxes Example. H&r block free taxes On July 2, 2002, the date of issue, you bought a 20-year, 6% municipal bond for $800. H&r block free taxes The face amount of the bond was $1,000. H&r block free taxes The $200 discount was OID. H&r block free taxes At the time the bond was issued, the issuer had no intention of redeeming it before it matured. H&r block free taxes The bond was callable at its face amount beginning 10 years after the issue date. H&r block free taxes The issuer redeemed the bond at the end of 11 years (July 2, 2013) for its face amount of $1,000 plus accrued annual interest of $60. H&r block free taxes The OID earned during the time you held the bond, $73, is not taxable. H&r block free taxes The $60 accrued annual interest also is not taxable. H&r block free taxes However, you must report the unearned part of OID ($127) as a capital gain. H&r block free taxes Long-term debt instruments issued after 1954 and before May 28, 1969 (or before July 2, 1982, if a government instrument). H&r block free taxes   If you sell, trade, or redeem for a gain one of these debt instruments, the part of your gain that is not more than your ratable share of the OID at the time of the sale or redemption is ordinary income. H&r block free taxes The rest of the gain is capital gain. H&r block free taxes If, however, there was an intention to call the debt instrument before maturity, all of your gain that is not more than the entire OID is treated as ordinary income at the time of the sale. H&r block free taxes This treatment of taxable gain also applies to corporate instruments issued after May 27, 1969, under a written commitment that was binding on May 27, 1969, and at all times thereafter. H&r block free taxes Long-term debt instruments issued after May 27, 1969 (or after July 1, 1982, if a government instrument). H&r block free taxes   If you hold one of these debt instruments, you must include a part of OID in your gross income each year you own the instrument. H&r block free taxes Your basis in that debt instrument is increased by the amount of OID that you have included in your gross income. H&r block free taxes See Original Issue Discount (OID) in chapter 7 for information about OID that you must report on your tax return. H&r block free taxes   If you sell or trade the debt instrument before maturity, your gain is a capital gain. H&r block free taxes However, if at the time the instrument was originally issued there was an intention to call it before its maturity, your gain generally is ordinary income to the extent of the entire OID reduced by any amounts of OID previously includible in your income. H&r block free taxes In this case, the rest of the gain is capital gain. H&r block free taxes Market discount bonds. H&r block free taxes   If the debt instrument has market discount and you chose to include the discount in income as it accrued, increase your basis in the debt instrument by the accrued discount to figure capital gain or loss on its disposition. H&r block free taxes If you did not choose to include the discount in income as it accrued, you must report gain as ordinary interest income up to the instrument's accrued market discount. H&r block free taxes The rest of the gain is capital gain. H&r block free taxes See Market Discount Bonds in chapter 1 of Publication 550. H&r block free taxes   A different rule applies to market discount bonds issued before July 19, 1984, and purchased by you before May 1, 1993. H&r block free taxes See Market discount bonds under Discounted Debt Instruments in chapter 4 of Publication 550. H&r block free taxes Retirement of debt instrument. H&r block free taxes   Any amount you receive on the retirement of a debt instrument is treated in the same way as if you had sold or traded that instrument. H&r block free taxes Notes of individuals. H&r block free taxes   If you hold an obligation of an individual issued with OID after March 1, 1984, you generally must include the OID in your income currently, and your gain or loss on its sale or retirement is generally capital gain or loss. H&r block free taxes An exception to this treatment applies if the obligation is a loan between individuals and all the following requirements are met. H&r block free taxes The lender is not in the business of lending money. H&r block free taxes The amount of the loan, plus the amount of any outstanding prior loans, is $10,000 or less. H&r block free taxes Avoiding federal tax is not one of the principal purposes of the loan. H&r block free taxes   If the exception applies, or the obligation was issued before March 2, 1984, you do not include the OID in your income currently. H&r block free taxes When you sell or redeem the obligation, the part of your gain that is not more than your accrued share of OID at that time is ordinary income. H&r block free taxes The rest of the gain, if any, is capital gain. H&r block free taxes Any loss on the sale or redemption is capital loss. H&r block free taxes Deposit in Insolvent or Bankrupt Financial Institution If you lose money you have on deposit in a bank, credit union, or other financial institution that becomes insolvent or bankrupt, you may be able to deduct your loss in one of three ways. H&r block free taxes Ordinary loss. H&r block free taxes Casualty loss. H&r block free taxes Nonbusiness bad debt (short-term capital loss). H&r block free taxes  For more information, see Deposit in Insolvent or Bankrupt Financial Institution, in chapter 4 of Publication 550. H&r block free taxes Sale of Annuity The part of any gain on the sale of an annuity contract before its maturity date that is based on interest accumulated on the contract is ordinary income. H&r block free taxes Losses on Section 1244 (Small Business) Stock You can deduct as an ordinary loss, rather than as a capital loss, your loss on the sale, trade, or worthlessness of section 1244 stock. H&r block free taxes Report the loss on Form 4797, line 10. H&r block free taxes Any gain on section 1244 stock is a capital gain if the stock is a capital asset in your hands. H&r block free taxes Report the gain on Form 8949. H&r block free taxes See Losses on Section 1244 (Small Business) Stock in chapter 4 of Publication 550. H&r block free taxes For more information on Form 8949 and Schedule D (Form 1040), see Reporting Capital Gains and Losses in chapter 16. H&r block free taxes See also Schedule D (Form 1040), Form 8949, and their separate instructions. H&r block free taxes Holding Period If you sold or traded investment property, you must determine your holding period for the property. H&r block free taxes Your holding period determines whether any capital gain or loss was a short-term or long-term capital gain or loss. H&r block free taxes Long-term or short-term. H&r block free taxes   If you hold investment property more than 1 year, any capital gain or loss is a long-term capital gain or loss. H&r block free taxes If you hold the property 1 year or less, any capital gain or loss is a short-term capital gain or loss. H&r block free taxes   To determine how long you held the investment property, begin counting on the date after the day you acquired the property. H&r block free taxes The day you disposed of the property is part of your holding period. H&r block free taxes Example. H&r block free taxes If you bought investment property on February 6, 2012, and sold it on February 6, 2013, your holding period is not more than 1 year and you have a short-term capital gain or loss. H&r block free taxes If you sold it on February 7, 2013, your holding period is more than 1 year and you will have a long-term capital gain or loss. H&r block free taxes Securities traded on established market. H&r block free taxes   For securities traded on an established securities market, your holding period begins the day after the trade date you bought the securities, and ends on the trade date you sold them. H&r block free taxes    Do not confuse the trade date with the settlement date, which is the date by which the stock must be delivered and payment must be made. H&r block free taxes Example. H&r block free taxes You are a cash method, calendar year taxpayer. H&r block free taxes You sold stock at a gain on December 30, 2013. H&r block free taxes According to the rules of the stock exchange, the sale was closed by delivery of the stock 4 trading days after the sale, on January 6, 2014. H&r block free taxes You received payment of the sales price on that same day. H&r block free taxes Report your gain on your 2013 return, even though you received the payment in 2014. H&r block free taxes The gain is long term or short term depending on whether you held the stock more than 1 year. H&r block free taxes Your holding period ended on December 30. H&r block free taxes If you had sold the stock at a loss, you would also report it on your 2013 return. H&r block free taxes U. H&r block free taxes S. H&r block free taxes Treasury notes and bonds. H&r block free taxes   The holding period of U. H&r block free taxes S. H&r block free taxes Treasury notes and bonds sold at auction on the basis of yield starts the day after the Secretary of the Treasury, through news releases, gives notification of acceptance to successful bidders. H&r block free taxes The holding period of U. H&r block free taxes S. H&r block free taxes Treasury notes and bonds sold through an offering on a subscription basis at a specified yield starts the day after the subscription is submitted. H&r block free taxes Automatic investment service. H&r block free taxes   In determining your holding period for shares bought by the bank or other agent, full shares are considered bought first and any fractional shares are considered bought last. H&r block free taxes Your holding period starts on the day after the bank's purchase date. H&r block free taxes If a share was bought over more than one purchase date, your holding period for that share is a split holding period. H&r block free taxes A part of the share is considered to have been bought on each date that stock was bought by the bank with the proceeds of available funds. H&r block free taxes Nontaxable trades. H&r block free taxes   If you acquire investment property in a trade for other investment property and your basis for the new property is determined, in whole or in part, by your basis in the old property, your holding period for the new property begins on the day following the date you acquired the old property. H&r block free taxes Property received as a gift. H&r block free taxes   If you receive a gift of property and your basis is determined by the donor's adjusted basis, your holding period is considered to have started on the same day the donor's holding period started. H&r block free taxes   If your basis is determined by the fair market value of the property, your holding period starts on the day after the date of the gift. H&r block free taxes Inherited property. H&r block free taxes   Generally, if you inherited investment property, your capital gain or loss on any later disposition of that property is long-term capital gain or loss. H&r block free taxes This is true regardless of how long you actually held the property. H&r block free taxes However, if you inherited property from someone who died in 2010, see the information below. H&r block free taxes Inherited property from someone who died in 2010. H&r block free taxes   If you inherit investment property from a decedent who died in 2010, and the executor of the decedent's estate made the election to file Form 8939, refer to the information provided by the executor or see Publication 4895, Tax Treatment of Property Acquired From a Decedent Dying in 2010, to determine your holding period. H&r block free taxes Real property bought. H&r block free taxes   To figure how long you have held real property bought under an unconditional contract, begin counting on the day after you received title to it or on the day after you took possession of it and assumed the burdens and privileges of ownership, whichever happened first. H&r block free taxes However, taking delivery or possession of real property under an option agreement is not enough to start the holding period. H&r block free taxes The holding period cannot start until there is an actual contract of sale. H&r block free taxes The holding period of the seller cannot end before that time. H&r block free taxes Real property repossessed. H&r block free taxes   If you sell real property but keep a security interest in it, and then later repossess the property under the terms of the sales contract, your holding period for a later sale includes the period you held the property before the original sale and the period after the repossession. H&r block free taxes Your holding period does not include the time between the original sale and the repossession. H&r block free taxes That is, it does not include the period during which the first buyer held the property. H&r block free taxes Stock dividends. H&r block free taxes   The holding period for stock you received as a taxable stock dividend begins on the date of distribution. H&r block free taxes   The holding period for new stock you received as a nontaxable stock dividend begins on the same day as the holding period of the old stock. H&r block free taxes This rule also applies to stock acquired in a “spin-off,” which is a distribution of stock or securities in a controlled corporation. H&r block free taxes Nontaxable stock rights. H&r block free taxes   Your holding period for nontaxable stock rights begins on the same day as the holding period of the underlying stock. H&r block free taxes The holding period for stock acquired through the exercise of stock rights begins on the date the right was exercised. H&r block free taxes Nonbusiness Bad Debts If someone owes you money that you cannot collect, you have a bad debt. H&r block free taxes You may be able to deduct the amount owed to you when you figure your tax for the year the debt becomes worthless. H&r block free taxes Generally, nonbusiness bad debts are bad debts that did not come from operating your trade or business, and are deductible as short-term capital losses. H&r block free taxes To be deductible, nonbusiness bad debts must be totally worthless. H&r block free taxes You cannot deduct a partly worthless nonbusiness debt. H&r block free taxes Genuine debt required. H&r block free taxes   A debt must be genuine for you to deduct a loss. H&r block free taxes A debt is genuine if it arises from a debtor-creditor relationship based on a valid and enforceable obligation to repay a fixed or determinable sum of money. H&r block free taxes Basis in bad debt required. H&r block free taxes    To deduct a bad debt, you must have a basis in it—that is, you must have already included the amount in your income or loaned out your cash. H&r block free taxes For example, you cannot claim a bad debt deduction for court-ordered child support not paid to you by your former spouse. H&r block free taxes If you are a cash method taxpayer (as most individuals are), you generally cannot take a bad debt deduction for unpaid salaries, wages, rents, fees, interest, dividends, and similar items. H&r block free taxes When deductible. H&r block free taxes   You can take a bad debt deduction only in the year the debt becomes worthless. H&r block free taxes You do not have to wait until a debt is due to determine whether it is worthless. H&r block free taxes A debt becomes worthless when there is no longer any chance that the amount owed will be paid. H&r block free taxes   It is not necessary to go to court if you can show that a judgment from the court would be uncollectible. H&r block free taxes You must only show that you have taken reasonable steps to collect the debt. H&r block free taxes Bankruptcy of your debtor is generally good evidence of the worthlessness of at least a part of an unsecured and unpreferred debt. H&r block free taxes How to report bad debts. H&r block free taxes    Deduct nonbusiness bad debts as short-term capital losses on Form 8949. H&r block free taxes    Make sure you report your bad debt(s) (and any other short-term transactions for which you did not receive a Form 1099-B) on Form 8949, Part I, with box C checked. H&r block free taxes    For more information on Form 8949 and Schedule D (Form 1040), see Reporting Capital Gains and Losses in chapter 16. H&r block free taxes See also Schedule D (Form 1040), Form 8949, and their separate instructions. H&r block free taxes   For each bad debt, attach a statement to your return that contains: A description of the debt, including the amount, and the date it became due, The name of the debtor, and any business or family relationship between you and the debtor, The efforts you made to collect the debt, and Why you decided the debt was worthless. H&r block free taxes For example, you could show that the borrower has declared bankruptcy, or that legal action to collect would probably not result in payment of any part of the debt. H&r block free taxes Filing a claim for refund. H&r block free taxes    If you do not deduct a bad debt on your original return for the year it becomes worthless, you can file a claim for a credit or refund due to the bad debt. H&r block free taxes To do this, use Form 1040X to amend your return for the year the debt became worthless. H&r block free taxes 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. H&r block free taxes For more information about filing a claim, see Amended Returns and Claims for Refund in chapter 1. H&r block free taxes Additional information. H&r block free taxes   For more information, see Nonbusiness Bad Debts in Publication 550. H&r block free taxes For information on business bad debts, see chapter 10 of Publication 535, Business Expenses. H&r block free taxes Wash Sales You cannot deduct losses from sales or trades of stock or securities in a wash sale. H&r block free taxes A wash sale occurs when you sell or trade stock or securities at a loss and within 30 days before or after the sale you: Buy substantially identical stock or securities, Acquire substantially identical stock or securities in a fully taxable trade, Acquire a contract or option to buy substantially identical stock or securities, or Acquire substantially identical stock for your individual retirement account (IRA) or Roth IRA. H&r block free taxes If your loss was disallowed because of the wash sale rules, add the disallowed loss to the cost of the new stock or securities (except in (4) above). H&r block free taxes The result is your basis in the new stock or securities. H&r block free taxes This adjustment postpones the loss deduction until the disposition of the new stock or securities. H&r block free taxes Your holding period for the new stock or securities includes the holding period of the stock or securities sold. H&r block free taxes For more information, see Wash Sales, in chapter 4 of Publication 550. H&r block free taxes Rollover of Gain From Publicly Traded Securities You may qualify for a tax-free rollover of certain gains from the sale of publicly traded securities. H&r block free taxes This means that if you buy certain replacement property and make the choice described in this section, you postpone part or all of your gain. H&r block free taxes You postpone the gain by adjusting the basis of the replacement property as described in Basis of replacement property , later. H&r block free taxes This postpones your gain until the year you dispose of the replacement property. H&r block free taxes You qualify to make this choice if you meet all the following tests. H&r block free taxes You sell publicly traded securities at a gain. H&r block free taxes Publicly traded securities are securities traded on an established securities market. H&r block free taxes Your gain from the sale is a capital gain. H&r block free taxes During the 60-day period beginning on the date of the sale, you buy replacement property. H&r block free taxes This replacement property must be either common stock of, or a partnership interest in a specialized small business investment company (SSBIC). H&r block free taxes This is any partnership or corporation licensed by the Small Business Administration under section 301(d) of the Small Business Investment Act of 1958, as in effect on May 13, 1993. H&r block free taxes Amount of gain recognized. H&r block free taxes   If you make the choice described in this section, you must recognize gain only up to the following amount. H&r block free taxes The amount realized on the sale, minus The cost of any common stock or partnership interest in an SSBIC that you bought during the 60-day period beginning on the date of sale (and did not previously take into account on an earlier sale of publicly traded securities). H&r block free taxes  If this amount is less than the amount of your gain, you can postpone the rest of your gain, subject to the limit described next. H&r block free taxes If this amount is equal to or more than the amount of your gain, you must recognize the full amount of your gain. H&r block free taxes Limit on gain postponed. H&r block free taxes   The amount of gain you can postpone each year is limited to the smaller of: $50,000 ($25,000 if you are married and file a separate return), or $500,000 ($250,000 if you are married and file a separate return), minus the amount of gain you postponed for all earlier years. H&r block free taxes Basis of replacement property. H&r block free taxes   You must subtract the amount of postponed gain from the basis of your replacement property. H&r block free taxes How to report and postpone gain. H&r block free taxes    See How to report and postpone gain under Rollover of Gain From Publicly Traded Securities in chapter 4 of Publication 550 for details. H&r block free taxes Prev  Up  Next   Home   More Online Publications