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H&r block on line 5. H&r block on line   Illustrated Examples Table of Contents Illustrated Example of Form 4563Line 1. H&r block on line Line 2. H&r block on line Lines 3a and 3b. H&r block on line Lines 4a and 4b. H&r block on line Line 5. H&r block on line Line 6. H&r block on line Line 7. H&r block on line Line 9. H&r block on line Line 15. H&r block on line Illustrated Example of Form 5074Part I. H&r block on line Part II. H&r block on line Part III. H&r block on line Illustrated Example of Form 8689Part I. H&r block on line Part II. H&r block on line Part III. H&r block on line Part IV. H&r block on line Use the following examples to help you complete the correct attachment to your Form 1040. H&r block on line The completed form for each example is shown on the pages that follow. H&r block on line Illustrated Example of Form 4563 John Black is a U. H&r block on line S. H&r block on line citizen, single, and under 65. H&r block on line He was a bona fide resident of American Samoa during all of 2013. H&r block on line John must file Form 1040 because his gross income from sources outside the possessions ($10,000 of dividends from U. H&r block on line S. H&r block on line corporations) is more than his adjusted filing requirement for single filers under 65. H&r block on line (See Filing Requirement if Possession Income Is Excluded in chapter 4. H&r block on line ) Because he must file Form 1040 (not illustrated), he fills out Form 4563 to determine the amount of income from American Samoa he can exclude. H&r block on line See Bona Fide Resident of American Samoa in chapter 3. H&r block on line Completing Form 4563. H&r block on line   John enters his name and social security number at the top of the form. H&r block on line Line 1. H&r block on line   On Form 4563 (see later), John enters the date his bona fide residence began in American Samoa, June 2, 2012. H&r block on line Because he is still a bona fide resident, he enters “not ended” in the second blank space. H&r block on line Line 2. H&r block on line   He checks the box labeled “Rented house or apartment” to describe his type of living quarters in American Samoa. H&r block on line Lines 3a and 3b. H&r block on line   He checks “No” on line 3a because no family members lived with him. H&r block on line He leaves line 3b blank. H&r block on line Lines 4a and 4b. H&r block on line   He checks “No” on line 4a because he did not maintain a home outside American Samoa. H&r block on line He leaves line 4b blank. H&r block on line Line 5. H&r block on line   He enters the name and address of his employer, Samoa Products Co. H&r block on line It is a private American Samoa corporation. H&r block on line Line 6. H&r block on line   He enters the dates of his 2-week vacation to New Zealand from November 11 to November 25. H&r block on line That was his only trip outside American Samoa during the year. H&r block on line Line 7. H&r block on line   He enters the $24,000 in wages he received from Samoa Products Co. H&r block on line Line 9. H&r block on line   He received $220 in dividends from an American Samoa corporation, which he enters here. H&r block on line He also received $10,000 of dividends from a U. H&r block on line S. H&r block on line corporation, but he will enter that amount only on his Form 1040 because the U. H&r block on line S. H&r block on line dividends do not qualify for the possession exclusion. H&r block on line Line 15. H&r block on line   John totals the amounts on lines 7 and 9 to get the amount he can exclude from his gross income in 2013. H&r block on line He will not enter his excluded income on Form 1040. H&r block on line However, he will attach his completed Form 4563 to his Form 1040. H&r block on line Illustrated Example of Form 5074 Tracy Grey is a U. H&r block on line S. H&r block on line citizen who is a self-employed fisheries consultant with a tax home in New York. H&r block on line Her only income for 2013 was net self-employment income of $80,000. H&r block on line Of the $80,000, $20,000 was from consulting work in Guam and the rest was earned in the United States. H&r block on line Thinking she would owe tax to Guam on the $20,000, Tracy made estimated tax payments of $1,409 to Guam. H&r block on line She was not a bona fide resident of Guam during 2013. H&r block on line Tracy completes Form 1040 (not illustrated), reporting her worldwide income. H&r block on line Because the adjusted gross income on her Form 1040 was $50,000 or more and at least $5,000 of her gross income is from Guam, Tracy must file Form 5074 with her Form 1040. H&r block on line All amounts reported on Form 5074 are also reported on her Form 1040. H&r block on line See U. H&r block on line S. H&r block on line Citizen or Resident Alien (Other Than a Bona Fide Resident of Guam) in chapter 3. H&r block on line Completing Form 5074. H&r block on line   Tracy enters her name and social security number at the top of the form. H&r block on line Part I. H&r block on line   On Form 5074 (see later), Tracy enters her self-employment income from Guam ($20,000) on line 6. H&r block on line She has no other income from Guam, so the total on line 16 is $20,000. H&r block on line Part II. H&r block on line   Tracy's only adjustment in Part II is the deductible part of the self-employment tax on her net income earned in Guam. H&r block on line She enters $1,413 on line 21 and line 28. H&r block on line Her adjusted gross income on line 29 is $18,587. H&r block on line Part III. H&r block on line   Tracy made estimated tax payments of $1,409. H&r block on line She enters this amount on line 30, and again on line 34 as the total payments. H&r block on line Illustrated Example of Form 8689 Juan and Carla Moreno live and work in the United States. H&r block on line In 2013, they received $14,400 in income from the rental of a condominium they own in the U. H&r block on line S. H&r block on line Virgin Islands (USVI). H&r block on line The rental income was deposited in a bank in the USVI and they received $500 of interest on this income. H&r block on line They were not bona fide residents of the USVI during the entire tax year. H&r block on line The Morenos complete Form 1040 (not illustrated), reporting their income from all sources, including their interest income and the income and expenses from their USVI rental property (reported on Schedule E (Form 1040)). H&r block on line The Morenos take the standard deduction for married filing jointly, both are under 65, and they have no dependents. H&r block on line The Morenos also complete Form 8689 to determine how much of their U. H&r block on line S. H&r block on line tax shown on Form 1040, line 61 (with certain adjustments), must be paid to the U. H&r block on line S. H&r block on line Virgin Islands. H&r block on line See U. H&r block on line S. H&r block on line Citizen or Resident Alien (Other Than a Bona Fide Resident of the USVI) in chapter 3. H&r block on line The Morenos file their Form 1040, attaching Form 8689 and all other schedules, with the Internal Revenue Service. H&r block on line At the same time, they send a copy of their Form 1040 with all attachments, including Form 8689, to the Virgin Islands Bureau of Internal Revenue. H&r block on line The Virgin Islands Bureau of Internal Revenue will process this copy. H&r block on line Completing Form 8689. H&r block on line   Juan and Carla enter their names and Juan's social security number at the top of the form. H&r block on line Part I. H&r block on line   The Morenos enter their income from the USVI in Part I (see later). H&r block on line The interest income is entered on line 2 and the net rental income of $6,200 ($14,400 of rental income minus $8,200 of rental expenses) is entered on line 11. H&r block on line The Morenos' total USVI income of $6,700 is entered on line 16. H&r block on line Part II. H&r block on line   The Morenos have no adjustments to their USVI income, so they enter zero (-0-) on line 28, and $6,700 on line 29. H&r block on line Their USVI adjusted gross income (AGI) is $6,700. H&r block on line Part III. H&r block on line   On line 30, the Morenos enter the amount from Form 1040, line 61 ($4,539). H&r block on line Their Form 1040 does not show any entries required on line 31, so they leave that line blank and enter $4,539 on line 32. H&r block on line   The Morenos enter their worldwide AGI, $54,901 (Form 1040, line 38), on line 33. H&r block on line Next, they find what percentage of their AGI is from USVI sources ($6,700 ÷ $54,901 = 0. H&r block on line 122) and enter that as a decimal on line 34. H&r block on line They then apply that percentage to the U. H&r block on line S. H&r block on line tax entered on line 32 to find the amount of U. H&r block on line S. H&r block on line tax allocated to USVI income ($4,539 x 0. H&r block on line 122 = $554), and enter that amount on line 35. H&r block on line Part IV. H&r block on line   Part IV is used to show payments of income tax to the USVI only. H&r block on line The Morenos had no tax withheld by the U. H&r block on line S. H&r block on line Virgin Islands, but made estimated tax payments to the USVI of $400, which they entered on lines 37 and 39. H&r block on line They include this amount ($400) in the total payments on Form 1040, line 72. H&r block on line On the dotted line next to the entry space for line 72, they enter “Form 8689” and show the amount. H&r block on line The Morenos do not complete Form 1116 because they receive credit on Form 1040, line 72, for the tax paid to the USVI. H&r block on line   The income tax they owe to the USVI ($154) is shown on Form 8689, line 44. H&r block on line They enter this amount on line 45. H&r block on line They also include this additional amount ($154) on the dotted line next to the entry space and in the total on Form 1040, line 72. H&r block on line The Morenos will pay their USVI tax at the same time they file the copy of their U. H&r block on line S. H&r block on line income tax return with the U. H&r block on line S. H&r block on line Virgin Islands. H&r block on line This image is too large to be displayed in the current screen. H&r block on line Please click the link to view the image. H&r block on line Form 4563, page 1 for John Black This image is too large to be displayed in the current screen. H&r block on line Please click the link to view the image. H&r block on line Form 5074, for Tracy Grey This image is too large to be displayed in the current screen. H&r block on line Please click the link to view the image. H&r block on line Form 8689, page 1 for Juan and Carla Moreno Prev  Up  Next   Home   More Online Publications
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    H&r block on line 29. H&r block on line   Límite sobre Deducciones Detalladas Table of Contents Introduction Useful Items - You may want to see: ¿Está Usted Sujeto al Límite? ¿Qué Deducciones Detalladas Están Limitadas? ¿Qué Deducciones Detalladas no Están Limitadas? ¿Cómo se Calcula el Límite?Ejemplo Introduction Este capítulo trata del límite general sobre las deducciones detalladas en el Anexo A (Formulario 1040). H&r block on line Los temas abarcan: Quién está sujeto al límite. H&r block on line Qué deducciones detalladas están limitadas. H&r block on line Cómo calcular el límite. H&r block on line Useful Items - You may want to see: Formulario (e Instrucciones) Anexo A (Formulario 1040) Itemized Deductions (Deducciones detalladas), en inglés. H&r block on line ¿Está Usted Sujeto al Límite? Si tiene ingresos brutos ajustados (AGI, por sus siglas en inglés) de más de $300,000, si es casado que presenta la declaración conjunta o viudo calificado, $275,000, si es cabeza de familia, $250,000, si es soltero o $150,000, si es casado que presenta la declaración por separado, está sujeto al límite sobre determinadas deducciones detalladas. H&r block on line El ingreso bruto ajustado (AGI) es la cantidad de la línea 38 (Formulario 1040). H&r block on line ¿Qué Deducciones Detalladas Están Limitadas? Las siguientes deducciones del Anexo A (Formulario 1040) están sujetas al límite general sobre las deducciones detalladas: Impuestos pagados —línea 9. H&r block on line Intereses pagados —líneas 10,11,12 y 13. H&r block on line Donaciones a organizaciones caritativas —línea 19. H&r block on line Gastos laborales y determinadas deducciones misceláneas —línea 27. H&r block on line Otras deducciones misceláneas —línea 28, excluyendo pérdidas por apuestas y juegos de azar y por hecho fortuito o robo. H&r block on line ¿Qué Deducciones Detalladas no Están Limitadas? Las siguientes deducciones del Anexo A (Formulario 1040) no están sujetas al límite general sobre las deducciones detalladas. H&r block on line Sin embargo, igualmente están sujetas a otros límites aplicables. H&r block on line Gastos médicos y dentales —línea 4. H&r block on line Gastos de intereses de inversión —línea 14. H&r block on line Pérdidas por hecho fortuito y robo de bienes de uso personal —línea 20. H&r block on line Pérdidas por hecho fortuito y robo de bienes que generan ingresos —línea 28. H&r block on line Pérdidas por apuestas y juegos de azar —línea 28. H&r block on line ¿Cómo se Calcula el Límite? Si las deducciones detalladas están sujetas al límite, el total de todas sus deducciones detalladas es reducido por la cantidad menor de uno de: el 80% de las deducciones detalladas afectadas por el límite. H&r block on line Vea ¿Qué Deducciones Detalladas Están Limitadas? , anteriormente o el 3% de la cantidad por la cual los ingresos brutos ajustados sobrepasen $300,000, si es casado que presenta la declaración conjunta o viudo calificado, $275,000, si es cabeza de familia, $250,000, si es soltero o $150,000, si es casado que presenta la declaración por separado. H&r block on line Antes de calcular el límite general sobre las deducciones detalladas, primero tiene que llenar las líneas 1 a 28 del Anexo A (Formulario 1040), incluyendo todo formulario afín (tal como el Formulario 2106, el Formulario 4684, etc. H&r block on line ) El límite general sobre las deducciones detalladas se calcula después de haberse aplicado cualquier otro límite sobre la asignación de alguna deducción detallada. H&r block on line Estos límites adicionales abarcan los límites sobre donaciones caritativas (capítulo 24), el límite sobre determinados gastos de comida y entretenimiento (capítulo 26) y el límite del 2% de los ingresos brutos ajustados sobre determinadas deducciones misceláneas (capítulo 28). H&r block on line Hoja de trabajo de deducciones detalladas. H&r block on line   Después de completar hasta la línea 28, inclusive, del Anexo A (Formulario 1040), puede utilizar la Itemized Deductions Worksheet (Hoja de trabajo de las deducciones detalladas), en las Instrucciones del Anexo A (Formulario 1040) para calcular el límite. H&r block on line Anote el resultado en la línea 29 del Anexo A (Formulario 1040). H&r block on line Guarde la hoja de trabajo con su documentación. H&r block on line Debe comparar la cantidad de la deducción estándar con la cantidad de las deducciones detalladas después de aplicar el límite. H&r block on line Utilice la cantidad mayor cuando complete la línea 40 (Formulario 1040). H&r block on line Vea el capítulo 20 para información sobre cómo calcular la deducción estándar. H&r block on line Ejemplo Para el año tributario 2013, Guillermo y Teresa Valdez presentan la declaración conjunta en el Formulario 1040. H&r block on line Tienen ingresos brutos ajustados de $325,500 en la línea 38. H&r block on line Las deducciones detalladas de su Anexo A son las siguientes: Impuestos pagados —línea 9   $ 17,900 Intereses pagados —líneas 10,11,12 y 13   45,000 Gasto de intereses de inversión  —línea 14   41,000 Donaciones a organizaciones caritativas —línea 19   21,000 Gastos laborales —línea 27   17,240 Total   $142,140       La deducción por gastos de intereses de inversión de los Valdez ($41,000 de la línea 14 del Anexo A (Formulario 1040) no está sujeta al límite general de las deducciones detalladas. H&r block on line Los Valdez utilizan la Itemized Deductions Worksheet (Hoja de trabajo de las deducciones detalladas), en las Instrucciones del Anexo A (Formulario 1040) para calcular el límite general. H&r block on line Del total de las deducciones detalladas de $142,140, los Valdez pueden deducir sólo $141,375 ($142,140 - $765). H&r block on line Anotan $141,375 en la línea 29 del Anexo A (Formulario 1040). H&r block on line Prev  Up  Next   Home   More Online Publications