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How To File A 1040x Amendment

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How To File A 1040x Amendment

How to file a 1040x amendment 12. How to file a 1040x amendment   Other Income Table of Contents Introduction Useful Items - You may want to see: Bartering Canceled DebtsInterest included in canceled debt. How to file a 1040x amendment Exceptions Host or Hostess Life Insurance ProceedsSurviving spouse. How to file a 1040x amendment Endowment Contract Proceeds Accelerated Death Benefits Public Safety Officer Killed in the Line of Duty Partnership Income S Corporation Income RecoveriesItemized Deduction Recoveries Rents from Personal Property RepaymentsMethod 1. How to file a 1040x amendment Method 2. How to file a 1040x amendment RoyaltiesDepletion. How to file a 1040x amendment Coal and iron ore. How to file a 1040x amendment Sale of property interest. How to file a 1040x amendment Part of future production sold. How to file a 1040x amendment Unemployment BenefitsTypes of unemployment compensation. How to file a 1040x amendment Governmental program. How to file a 1040x amendment Repayment of unemployment compensation. How to file a 1040x amendment Tax withholding. How to file a 1040x amendment Repayment of benefits. How to file a 1040x amendment Welfare and Other Public Assistance Benefits Other IncomeEmotional distress. How to file a 1040x amendment Deduction for costs involved in unlawful discrimination suits. How to file a 1040x amendment Energy conservation measure. How to file a 1040x amendment Dwelling unit. How to file a 1040x amendment Current income required to be distributed. How to file a 1040x amendment Current income not required to be distributed. How to file a 1040x amendment How to report. How to file a 1040x amendment Losses. How to file a 1040x amendment Grantor trust. How to file a 1040x amendment Nonemployee compensation. How to file a 1040x amendment Corporate director. How to file a 1040x amendment Personal representatives. How to file a 1040x amendment Manager of trade or business for bankruptcy estate. How to file a 1040x amendment Notary public. How to file a 1040x amendment Election precinct official. How to file a 1040x amendment Difficulty-of-care payments. How to file a 1040x amendment Maintaining space in home. How to file a 1040x amendment Reporting taxable payments. How to file a 1040x amendment Lotteries and raffles. How to file a 1040x amendment Form W-2G. How to file a 1040x amendment Reporting winnings and recordkeeping. How to file a 1040x amendment Inherited pension or IRA. How to file a 1040x amendment Employee awards or bonuses. How to file a 1040x amendment Pulitzer, Nobel, and similar prizes. How to file a 1040x amendment Payment for services. How to file a 1040x amendment VA payments. How to file a 1040x amendment Prizes. How to file a 1040x amendment Strike and lockout benefits. How to file a 1040x amendment Introduction You must include on your return all items of income you receive in the form of money, property, and services unless the tax law states that you do not include them. How to file a 1040x amendment Some items, however, are only partly excluded from income. How to file a 1040x amendment This chapter discusses many kinds of income and explains whether they are taxable or nontaxable. How to file a 1040x amendment Income that is taxable must be reported on your tax return and is subject to tax. How to file a 1040x amendment Income that is nontaxable may have to be shown on your tax return but is not taxable. How to file a 1040x amendment This chapter begins with discussions of the following income items. How to file a 1040x amendment Bartering. How to file a 1040x amendment Canceled debts. How to file a 1040x amendment Sales parties at which you are the host or hostess. How to file a 1040x amendment Life insurance proceeds. How to file a 1040x amendment Partnership income. How to file a 1040x amendment S Corporation income. How to file a 1040x amendment Recoveries (including state income tax refunds). How to file a 1040x amendment Rents from personal property. How to file a 1040x amendment Repayments. How to file a 1040x amendment Royalties. How to file a 1040x amendment Unemployment benefits. How to file a 1040x amendment Welfare and other public assistance benefits. How to file a 1040x amendment These discussions are followed by brief discussions of other income items. How to file a 1040x amendment Useful Items - You may want to see: Publication 525 Taxable and Nontaxable Income 544 Sales and Other Dispositions of Assets 4681 Canceled Debts, Foreclosures, Repossessions, and Abandonments Bartering Bartering is an exchange of property or services. How to file a 1040x amendment You must include in your income, at the time received, the fair market value of property or services you receive in bartering. How to file a 1040x amendment If you exchange services with another person and you both have agreed ahead of time on the value of the services, that value will be accepted as fair market value unless the value can be shown to be otherwise. How to file a 1040x amendment Generally, you report this income on Schedule C (Form 1040), Profit or Loss From Business, or Schedule C-EZ (Form 1040), Net Profit From Business. How to file a 1040x amendment However, if the barter involves an exchange of something other than services, such as in Example 3 below, you may have to use another form or schedule instead. How to file a 1040x amendment Example 1. How to file a 1040x amendment You are a self-employed attorney who performs legal services for a client, a small corporation. How to file a 1040x amendment The corporation gives you shares of its stock as payment for your services. How to file a 1040x amendment You must include the fair market value of the shares in your income on Schedule C (Form 1040) or Schedule C-EZ (Form 1040) in the year you receive them. How to file a 1040x amendment Example 2. How to file a 1040x amendment You are self-employed and a member of a barter club. How to file a 1040x amendment The club uses “credit units” as a means of exchange. How to file a 1040x amendment It adds credit units to your account for goods or services you provide to members, which you can use to purchase goods or services offered by other members of the barter club. How to file a 1040x amendment The club subtracts credit units from your account when you receive goods or services from other members. How to file a 1040x amendment You must include in your income the value of the credit units that are added to your account, even though you may not actually receive goods or services from other members until a later tax year. How to file a 1040x amendment Example 3. How to file a 1040x amendment You own a small apartment building. How to file a 1040x amendment In return for 6 months rent-free use of an apartment, an artist gives you a work of art she created. How to file a 1040x amendment You must report as rental income on Schedule E (Form 1040), Supplemental Income and Loss, the fair market value of the artwork, and the artist must report as income on Schedule C (Form 1040) or Schedule C-EZ (Form 1040) the fair rental value of the apartment. How to file a 1040x amendment Form 1099-B from barter exchange. How to file a 1040x amendment   If you exchanged property or services through a barter exchange, Form 1099-B, Proceeds From Broker and Barter Exchange Transactions, or a similar statement from the barter exchange should be sent to you by February 18, 2014. How to file a 1040x amendment It should show the value of cash, property, services, credits, or scrip you received from exchanges during 2013. How to file a 1040x amendment The IRS also will receive a copy of Form 1099-B. How to file a 1040x amendment Canceled Debts In most cases, if a debt you owe is canceled or forgiven, other than as a gift or bequest, you must include the canceled amount in your income. How to file a 1040x amendment You have no income from the canceled debt if it is intended as a gift to you. How to file a 1040x amendment A debt includes any indebtedness for which you are liable or which attaches to property you hold. How to file a 1040x amendment If the debt is a nonbusiness debt, report the canceled amount on Form 1040, line 21. How to file a 1040x amendment If it is a business debt, report the amount on Schedule C (Form 1040) or Schedule C-EZ (Form 1040) (or on Schedule F (Form 1040), Profit or Loss From Farming, if the debt is farm debt and you are a farmer). How to file a 1040x amendment Form 1099-C. How to file a 1040x amendment   If a Federal Government agency, financial institution, or credit union cancels or forgives a debt you owe of $600 or more, you will receive a Form 1099-C, Cancellation of Debt. How to file a 1040x amendment The amount of the canceled debt is shown in box 2. How to file a 1040x amendment Interest included in canceled debt. How to file a 1040x amendment   If any interest is forgiven and included in the amount of canceled debt in box 2, the amount of interest also will be shown in box 3. How to file a 1040x amendment Whether or not you must include the interest portion of the canceled debt in your income depends on whether the interest would be deductible when you paid it. How to file a 1040x amendment See Deductible debt under Exceptions, later. How to file a 1040x amendment   If the interest would not be deductible (such as interest on a personal loan), include in your income the amount from Form 1099-C, box 2. How to file a 1040x amendment If the interest would be deductible (such as on a business loan), include in your income the net amount of the canceled debt (the amount shown in box 2 less the interest amount shown in box 3). How to file a 1040x amendment Discounted mortgage loan. How to file a 1040x amendment   If your financial institution offers a discount for the early payment of your mortgage loan, the amount of the discount is canceled debt. How to file a 1040x amendment You must include the canceled amount in your income. How to file a 1040x amendment Mortgage relief upon sale or other disposition. How to file a 1040x amendment   If you are personally liable for a mortgage (recourse debt), and you are relieved of the mortgage when you dispose of the property, you may realize gain or loss up to the fair market value of the property. How to file a 1040x amendment To the extent the mortgage discharge exceeds the fair market value of the property, it is income from discharge of indebtedness unless it qualifies for exclusion under Excluded debt , later. How to file a 1040x amendment Report any income from discharge of indebtedness on nonbusiness debt that does not qualify for exclusion as other income on Form 1040, line 21. How to file a 1040x amendment    You may be able to exclude part of the mortgage relief on your principal residence. How to file a 1040x amendment See Excluded debt, later. How to file a 1040x amendment   If you are not personally liable for a mortgage (nonrecourse debt), and you are relieved of the mortgage when you dispose of the property (such as through foreclosure), that relief is included in the amount you realize. How to file a 1040x amendment You may have a taxable gain if the amount you realize exceeds your adjusted basis in the property. How to file a 1040x amendment Report any gain on nonbusiness property as a capital gain. How to file a 1040x amendment   See Publication 4681 for more information. How to file a 1040x amendment Stockholder debt. How to file a 1040x amendment   If you are a stockholder in a corporation and the corporation cancels or forgives your debt to it, the canceled debt is a constructive distribution that is generally dividend income to you. How to file a 1040x amendment For more information, see Publication 542, Corporations. How to file a 1040x amendment   If you are a stockholder in a corporation and you cancel a debt owed to you by the corporation, you generally do not realize income. How to file a 1040x amendment This is because the canceled debt is considered as a contribution to the capital of the corporation equal to the amount of debt principal that you canceled. How to file a 1040x amendment Repayment of canceled debt. How to file a 1040x amendment   If you included a canceled amount in your income and later pay the debt, you may be able to file a claim for refund for the year the amount was included in income. How to file a 1040x amendment You can file a claim on Form 1040X if the statute of limitations for filing a claim is still open. How to file a 1040x amendment The statute of limitations generally does not end until 3 years after the due date of your original return. How to file a 1040x amendment Exceptions There are several exceptions to the inclusion of canceled debt in income. How to file a 1040x amendment These are explained next. How to file a 1040x amendment Student loans. How to file a 1040x amendment   Certain student loans contain a provision that all or part of the debt incurred to attend the qualified educational institution will be canceled if you work for a certain period of time in certain professions for any of a broad class of employers. How to file a 1040x amendment   You do not have income if your student loan is canceled after you agreed to this provision and then performed the services required. How to file a 1040x amendment To qualify, the loan must have been made by: The Federal Government, a state or local government, or an instrumentality, agency, or subdivision thereof, A tax-exempt public benefit corporation that has assumed control of a state, county, or municipal hospital, and whose employees are considered public employees under state law, or An educational institution: Under an agreement with an entity described in (1) or (2) that provided the funds to the institution to make the loan, or As part of a program of the institution designed to encourage its students to serve in occupations with unmet needs or in areas with unmet needs and under which the services provided by the students (or former students) are for or under the direction of a governmental unit or a tax-exempt organization described in section 501(c)(3). How to file a 1040x amendment   A loan to refinance a qualified student loan also will qualify if it was made by an educational institution or a qualified tax-exempt organization under its program designed as described in (3)(b) above. How to file a 1040x amendment Education loan repayment assistance. How to file a 1040x amendment   Education loan repayments made to you by the National Health Service Corps Loan Repayment Program (NHSC Loan Repayment Program), a state education loan repayment program eligible for funds under the Public Health Service Act, or any other state loan repayment or loan forgiveness program that is intended to provide for the increased availability of health services in underserved or health professional shortage areas are not taxable. How to file a 1040x amendment    The provision relating to the “other state loan repayment or loan forgiveness program” was added to this exclusion for amounts received in tax years beginning after December 31, 2008. How to file a 1040x amendment If you included these amounts in income in 2010, 2011, or 2012, you should file an amended tax return to exclude this income. How to file a 1040x amendment See Form 1040X and its instructions for details on filing. How to file a 1040x amendment Deductible debt. How to file a 1040x amendment   You do not have income from the cancellation of a debt if your payment of the debt would be deductible. How to file a 1040x amendment This exception applies only if you use the cash method of accounting. How to file a 1040x amendment For more information, see chapter 5 of Publication 334, Tax Guide for Small Business. How to file a 1040x amendment Price reduced after purchase. How to file a 1040x amendment   In most cases, if the seller reduces the amount of debt you owe for property you purchased, you do not have income from the reduction. How to file a 1040x amendment The reduction of the debt is treated as a purchase price adjustment and reduces your basis in the property. How to file a 1040x amendment Excluded debt. How to file a 1040x amendment   Do not include a canceled debt in your gross income in the following situations. How to file a 1040x amendment The debt is canceled in a bankruptcy case under title 11 of the U. How to file a 1040x amendment S. How to file a 1040x amendment Code. How to file a 1040x amendment See Publication 908, Bankruptcy Tax Guide. How to file a 1040x amendment The debt is canceled when you are insolvent. How to file a 1040x amendment However, you cannot exclude any amount of canceled debt that is more than the amount by which you are insolvent. How to file a 1040x amendment See Publication 908. How to file a 1040x amendment The debt is qualified farm debt and is canceled by a qualified person. How to file a 1040x amendment See chapter 3 of Publication 225, Farmer's Tax Guide. How to file a 1040x amendment The debt is qualified real property business debt. How to file a 1040x amendment See chapter 5 of Publication 334. How to file a 1040x amendment The cancellation is intended as a gift. How to file a 1040x amendment The debt is qualified principal residence indebtedness. How to file a 1040x amendment See Publication 525 for additional information. How to file a 1040x amendment Host or Hostess If you host a party or event at which sales are made, any gift or gratuity you receive for giving the event is a payment for helping a direct seller make sales. How to file a 1040x amendment You must report this item as income at its fair market value. How to file a 1040x amendment Your out-of-pocket party expenses are subject to the 50% limit for meal and entertainment expenses. How to file a 1040x amendment These expenses are deductible as miscellaneous itemized deductions subject to the 2%-of-AGI limit on Schedule A (Form 1040), but only up to the amount of income you receive for giving the party. How to file a 1040x amendment For more information about the 50% limit for meal and entertainment expenses, see chapter 26. How to file a 1040x amendment Life Insurance Proceeds Life insurance proceeds paid to you because of the death of the insured person are not taxable unless the policy was turned over to you for a price. How to file a 1040x amendment This is true even if the proceeds were paid under an accident or health insurance policy or an endowment contract. How to file a 1040x amendment However, interest income received as a result of life insurance proceeds may be taxable. How to file a 1040x amendment Proceeds not received in installments. How to file a 1040x amendment   If death benefits are paid to you in a lump sum or other than at regular intervals, include in your income only the benefits that are more than the amount payable to you at the time of the insured person's death. How to file a 1040x amendment If the benefit payable at death is not specified, you include in your income the benefit payments that are more than the present value of the payments at the time of death. How to file a 1040x amendment Proceeds received in installments. How to file a 1040x amendment   If you receive life insurance proceeds in installments, you can exclude part of each installment from your income. How to file a 1040x amendment   To determine the excluded part, divide the amount held by the insurance company (generally the total lump sum payable at the death of the insured person) by the number of installments to be paid. How to file a 1040x amendment Include anything over this excluded part in your income as interest. How to file a 1040x amendment Surviving spouse. How to file a 1040x amendment   If your spouse died before October 23, 1986, and insurance proceeds paid to you because of the death of your spouse are received in installments, you can exclude up to $1,000 a year of the interest included in the installments. How to file a 1040x amendment If you remarry, you can continue to take the exclusion. How to file a 1040x amendment Surrender of policy for cash. How to file a 1040x amendment   If you surrender a life insurance policy for cash, you must include in income any proceeds that are more than the cost of the life insurance policy. How to file a 1040x amendment In most cases, your cost (or investment in the contract) is the total of premiums that you paid for the life insurance policy, less any refunded premiums, rebates, dividends, or unrepaid loans that were not included in your income. How to file a 1040x amendment    You should receive a Form 1099-R showing the total proceeds and the taxable part. How to file a 1040x amendment Report these amounts on lines 16a and 16b of Form 1040 or lines 12a and 12b of Form 1040A. How to file a 1040x amendment More information. How to file a 1040x amendment   For more information, see Life Insurance Proceeds in Publication 525. How to file a 1040x amendment Endowment Contract Proceeds An endowment contract is a policy under which you are paid a specified amount of money on a certain date unless you die before that date, in which case, the money is paid to your designated beneficiary. How to file a 1040x amendment Endowment proceeds paid in a lump sum to you at maturity are taxable only if the proceeds are more than the cost of the policy. How to file a 1040x amendment To determine your cost, subtract any amount that you previously received under the contract and excluded from your income from the total premiums (or other consideration) paid for the contract. How to file a 1040x amendment Include the part of the lump sum payment that is more than your cost in your income. How to file a 1040x amendment Accelerated Death Benefits Certain amounts paid as accelerated death benefits under a life insurance contract or viatical settlement before the insured's death are excluded from income if the insured is terminally or chronically ill. How to file a 1040x amendment Viatical settlement. How to file a 1040x amendment   This is the sale or assignment of any part of the death benefit under a life insurance contract to a viatical settlement provider. How to file a 1040x amendment A viatical settlement provider is a person who regularly engages in the business of buying or taking assignment of life insurance contracts on the lives of insured individuals who are terminally or chronically ill and who meets the requirements of section 101(g)(2)(B) of the Internal Revenue Code. How to file a 1040x amendment Exclusion for terminal illness. How to file a 1040x amendment    Accelerated death benefits are fully excludable if the insured is a terminally ill individual. How to file a 1040x amendment This is a person who has been certified by a physician as having an illness or physical condition that can reasonably be expected to result in death within 24 months from the date of the certification. How to file a 1040x amendment Exclusion for chronic illness. How to file a 1040x amendment    If the insured is a chronically ill individual who is not terminally ill, accelerated death benefits paid on the basis of costs incurred for qualified long-term care services are fully excludable. How to file a 1040x amendment Accelerated death benefits paid on a per diem or other periodic basis are excludable up to a limit. How to file a 1040x amendment This limit applies to the total of the accelerated death benefits and any periodic payments received from long-term care insurance contracts. How to file a 1040x amendment For information on the limit and the definitions of chronically ill individual, qualified long-term care services, and long-term care insurance contracts, see Long-Term Care Insurance Contracts under Sickness and Injury Benefits in Publication 525. How to file a 1040x amendment Exception. How to file a 1040x amendment   The exclusion does not apply to any amount paid to a person (other than the insured) who has an insurable interest in the life of the insured because the insured: Is a director, officer, or employee of the person, or Has a financial interest in the person's business. How to file a 1040x amendment Form 8853. How to file a 1040x amendment   To claim an exclusion for accelerated death benefits made on a per diem or other periodic basis, you must file Form 8853, Archer MSAs and Long-Term Care Insurance Contracts, with your return. How to file a 1040x amendment You do not have to file Form 8853 to exclude accelerated death benefits paid on the basis of actual expenses incurred. How to file a 1040x amendment Public Safety Officer Killed in the Line of Duty If you are a survivor of a public safety officer who was killed in the line of duty, you may be able to exclude from income certain amounts you receive. How to file a 1040x amendment For this purpose, the term public safety officer includes law enforcement officers, firefighters, chaplains, and rescue squad and ambulance crew members. How to file a 1040x amendment For more information, see Publication 559, Survivors, Executors, and Administrators. How to file a 1040x amendment Partnership Income A partnership generally is not a taxable entity. How to file a 1040x amendment The income, gains, losses, deductions, and credits of a partnership are passed through to the partners based on each partner's distributive share of these items. How to file a 1040x amendment Schedule K-1 (Form 1065). How to file a 1040x amendment    Although a partnership generally pays no tax, it must file an information return on Form 1065, U. How to file a 1040x amendment S. How to file a 1040x amendment Return of Partnership Income, and send Schedule K-1 (Form 1065) to each partner. How to file a 1040x amendment In addition, the partnership will send each partner a copy of the Partner's Instructions for Schedule K-1 (Form 1065) to help each partner report his or her share of the partnership's income, deductions, credits, and tax preference items. How to file a 1040x amendment Keep Schedule K-1 (Form 1065) for your records. How to file a 1040x amendment Do not attach it to your Form 1040, unless you are specifically required to do so. How to file a 1040x amendment For more information on partnerships, see Publication 541, Partnerships. How to file a 1040x amendment Qualified joint venture. How to file a 1040x amendment   If you and your spouse each materially participate as the only members of a jointly owned and operated business, and you file a joint return for the tax year, you can make a joint election to be treated as a qualified joint venture instead of a partnership. How to file a 1040x amendment To make this election, you must divide all items of income, gain, loss, deduction, and credit attributable to the business between you and your spouse in accordance with your respective interests in the venture. How to file a 1040x amendment For further information on how to make the election and which schedule(s) to file, see the instructions for your individual tax return. How to file a 1040x amendment S Corporation Income In most cases, an S corporation does not pay tax on its income. How to file a 1040x amendment Instead, the income, losses, deductions, and credits of the corporation are passed through to the shareholders based on each shareholder's pro rata share. How to file a 1040x amendment Schedule K-1 (Form 1120S). How to file a 1040x amendment   An S corporation must file a return on Form 1120S, U. How to file a 1040x amendment S. How to file a 1040x amendment Income Tax Return for an S Corporation, and send Schedule K-1 (Form 1120S) to each shareholder. How to file a 1040x amendment In addition, the S corporation will send each shareholder a copy of the Shareholder's Instructions for Schedule K-1 (Form 1120S) to help each shareholder report his or her share of the S corporation's income, losses, credits, and deductions. How to file a 1040x amendment Keep Schedule K-1 (Form 1120S) for your records. How to file a 1040x amendment Do not attach it to your Form 1040, unless you are specifically required to do so. How to file a 1040x amendment For more information on S corporations and their shareholders, see the Instructions for Form 1120S. How to file a 1040x amendment Recoveries A recovery is a return of an amount you deducted or took a credit for in an earlier year. How to file a 1040x amendment The most common recoveries are refunds, reimbursements, and rebates of deductions itemized on Schedule A (Form 1040). How to file a 1040x amendment You also may have recoveries of non-itemized deductions (such as payments on previously deducted bad debts) and recoveries of items for which you previously claimed a tax credit. How to file a 1040x amendment Tax benefit rule. How to file a 1040x amendment   You must include a recovery in your income in the year you receive it up to the amount by which the deduction or credit you took for the recovered amount reduced your tax in the earlier year. How to file a 1040x amendment For this purpose, any increase to an amount carried over to the current year that resulted from the deduction or credit is considered to have reduced your tax in the earlier year. How to file a 1040x amendment For more information, see Publication 525. How to file a 1040x amendment Federal income tax refund. How to file a 1040x amendment   Refunds of federal income taxes are not included in your income because they are never allowed as a deduction from income. How to file a 1040x amendment State tax refund. How to file a 1040x amendment   If you received a state or local income tax refund (or credit or offset) in 2013, you generally must include it in income if you deducted the tax in an earlier year. How to file a 1040x amendment The payer should send Form 1099-G, Certain Government Payments, to you by January 31, 2014. How to file a 1040x amendment The IRS also will receive a copy of the Form 1099-G. How to file a 1040x amendment If you file Form 1040, use the State and Local Income Tax Refund Worksheet in the 2013 Form 1040 instructions for line 10 to figure the amount (if any) to include in your income. How to file a 1040x amendment See Publication 525 for when you must use another worksheet. How to file a 1040x amendment   If you could choose to deduct for a tax year either: State and local income taxes, or State and local general sales taxes, then the maximum refund that you may have to include in income is limited to the excess of the tax you chose to deduct for that year over the tax you did not choose to deduct for that year. How to file a 1040x amendment For examples, see Publication 525. How to file a 1040x amendment Mortgage interest refund. How to file a 1040x amendment    If you received a refund or credit in 2013 of mortgage interest paid in an earlier year, the amount should be shown in box 3 of your Form 1098, Mortgage Interest Statement. How to file a 1040x amendment Do not subtract the refund amount from the interest you paid in 2013. How to file a 1040x amendment You may have to include it in your income under the rules explained in the following discussions. How to file a 1040x amendment Interest on recovery. How to file a 1040x amendment   Interest on any of the amounts you recover must be reported as interest income in the year received. How to file a 1040x amendment For example, report any interest you received on state or local income tax refunds on Form 1040, line 8a. How to file a 1040x amendment Recovery and expense in same year. How to file a 1040x amendment   If the refund or other recovery and the expense occur in the same year, the recovery reduces the deduction or credit and is not reported as income. How to file a 1040x amendment Recovery for 2 or more years. How to file a 1040x amendment   If you receive a refund or other recovery that is for amounts you paid in 2 or more separate years, you must allocate, on a pro rata basis, the recovered amount between the years in which you paid it. How to file a 1040x amendment This allocation is necessary to determine the amount of recovery from any earlier years and to determine the amount, if any, of your allowable deduction for this item for the current year. How to file a 1040x amendment For information on how to compute the allocation, see Recoveries in Publication 525. How to file a 1040x amendment Itemized Deduction Recoveries If you recover any amount that you deducted in an earlier year on Schedule A (Form 1040), you generally must include the full amount of the recovery in your income in the year you receive it. How to file a 1040x amendment Where to report. How to file a 1040x amendment   Enter your state or local income tax refund on Form 1040, line 10, and the total of all other recoveries as other income on Form 1040, line 21. How to file a 1040x amendment You cannot use Form 1040A or Form 1040EZ. How to file a 1040x amendment Standard deduction limit. How to file a 1040x amendment   You generally are allowed to claim the standard deduction if you do not itemize your deductions. How to file a 1040x amendment Only your itemized deductions that are more than your standard deduction are subject to the recovery rule (unless you are required to itemize your deductions). How to file a 1040x amendment If your total deductions on the earlier year return were not more than your income for that year, include in your income this year the lesser of: Your recoveries, or The amount by which your itemized deductions exceeded the standard deduction. How to file a 1040x amendment Example. How to file a 1040x amendment For 2012, you filed a joint return. How to file a 1040x amendment Your taxable income was $60,000 and you were not entitled to any tax credits. How to file a 1040x amendment Your standard deduction was $11,900, and you had itemized deductions of $14,000. How to file a 1040x amendment In 2013, you received the following recoveries for amounts deducted on your 2012 return: Medical expenses $200 State and local income tax refund 400 Refund of mortgage interest 325 Total recoveries $925 None of the recoveries were more than the deductions taken for 2012. How to file a 1040x amendment The difference between the state and local income tax you deducted and your local general sales tax was more than $400. How to file a 1040x amendment Your total recoveries are less than the amount by which your itemized deductions exceeded the standard deduction ($14,000 − 11,900 = $2,100), so you must include your total recoveries in your income for 2013. How to file a 1040x amendment Report the state and local income tax refund of $400 on Form 1040, line 10, and the balance of your recoveries, $525, on Form 1040, line 21. How to file a 1040x amendment Standard deduction for earlier years. How to file a 1040x amendment   To determine if amounts recovered in 2013 must be included in your income, you must know the standard deduction for your filing status for the year the deduction was claimed. How to file a 1040x amendment Look in the instructions for your tax return from prior years to locate the standard deduction for the filing status for that prior year. How to file a 1040x amendment Example. How to file a 1040x amendment You filed a joint return on Form 1040 for 2012 with taxable income of $45,000. How to file a 1040x amendment Your itemized deductions were $12,350. How to file a 1040x amendment The standard deduction that you could have claimed was $11,900. How to file a 1040x amendment In 2013, you recovered $2,100 of your 2012 itemized deductions. How to file a 1040x amendment None of the recoveries were more than the actual deductions for 2012. How to file a 1040x amendment Include $450 of the recoveries in your 2013 income. How to file a 1040x amendment This is the smaller of your recoveries ($2,100) or the amount by which your itemized deductions were more than the standard deduction ($12,350 − $11,900 = $450). How to file a 1040x amendment Recovery limited to deduction. How to file a 1040x amendment   You do not include in your income any amount of your recovery that is more than the amount you deducted in the earlier year. How to file a 1040x amendment The amount you include in your income is limited to the smaller of: The amount deducted on Schedule A (Form 1040), or The amount recovered. How to file a 1040x amendment Example. How to file a 1040x amendment During 2012 you paid $1,700 for medical expenses. How to file a 1040x amendment From this amount you subtracted $1,500, which was 7. How to file a 1040x amendment 5% of your adjusted gross income. How to file a 1040x amendment Your actual medical expense deduction was $200. How to file a 1040x amendment In 2013, you received a $500 reimbursement from your medical insurance for your 2012 expenses. How to file a 1040x amendment The only amount of the $500 reimbursement that must be included in your income for 2013 is $200—the amount actually deducted. How to file a 1040x amendment Other recoveries. How to file a 1040x amendment   See Recoveries in Publication 525 if: You have recoveries of items other than itemized deductions, or You received a recovery for an item for which you claimed a tax credit (other than investment credit or foreign tax credit) in a prior year. How to file a 1040x amendment Rents from Personal Property If you rent out personal property, such as equipment or vehicles, how you report your income and expenses is in most cases determined by: Whether or not the rental activity is a business, and Whether or not the rental activity is conducted for profit. How to file a 1040x amendment In most cases, if your primary purpose is income or profit and you are involved in the rental activity with continuity and regularity, your rental activity is a business. How to file a 1040x amendment See Publication 535, Business Expenses, for details on deducting expenses for both business and not-for-profit activities. How to file a 1040x amendment Reporting business income and expenses. How to file a 1040x amendment    If you are in the business of renting personal property, report your income and expenses on Schedule C or Schedule C-EZ (Form 1040). How to file a 1040x amendment The form instructions have information on how to complete them. How to file a 1040x amendment Reporting nonbusiness income. How to file a 1040x amendment   If you are not in the business of renting personal property, report your rental income on Form 1040, line 21. How to file a 1040x amendment List the type and amount of the income on the dotted line next to line 21. How to file a 1040x amendment Reporting nonbusiness expenses. How to file a 1040x amendment   If you rent personal property for profit, include your rental expenses in the total amount you enter on Form 1040, line 36. How to file a 1040x amendment Also enter the amount and “PPR” on the dotted line next to line 36. How to file a 1040x amendment   If you do not rent personal property for profit, your deductions are limited and you cannot report a loss to offset other income. How to file a 1040x amendment See Activity not for profit , under Other Income, later. How to file a 1040x amendment Repayments If you had to repay an amount that you included in your income in an earlier year, you may be able to deduct the amount repaid from your income for the year in which you repaid it. How to file a 1040x amendment Or, if the amount you repaid is more than $3,000, you may be able to take a credit against your tax for the year in which you repaid it. How to file a 1040x amendment Generally, you can claim a deduction or credit only if the repayment qualifies as an expense or loss incurred in your trade or business or in a for-profit transaction. How to file a 1040x amendment Type of deduction. How to file a 1040x amendment   The type of deduction you are allowed in the year of repayment depends on the type of income you included in the earlier year. How to file a 1040x amendment You generally deduct the repayment on the same form or schedule on which you previously reported it as income. How to file a 1040x amendment For example, if you reported it as self-employment income, deduct it as a business expense on Schedule C or Schedule C-EZ (Form 1040) or Schedule F (Form 1040). How to file a 1040x amendment If you reported it as a capital gain, deduct it as a capital loss as explained in the Instructions for Schedule D (Form 1040). How to file a 1040x amendment If you reported it as wages, unemployment compensation, or other nonbusiness income, deduct it as a miscellaneous itemized deduction on Schedule A (Form 1040). How to file a 1040x amendment Repaid social security benefits. How to file a 1040x amendment   If you repaid social security benefits or equivalent railroad retirement benefits, see Repayment of benefits in chapter 11. How to file a 1040x amendment Repayment of $3,000 or less. How to file a 1040x amendment   If the amount you repaid was $3,000 or less, deduct it from your income in the year you repaid it. How to file a 1040x amendment If you must deduct it as a miscellaneous itemized deduction, enter it on Schedule A (Form 1040), line 23. How to file a 1040x amendment Repayment over $3,000. How to file a 1040x amendment   If the amount you repaid was more than $3,000, you can deduct the repayment (as explained under Type of deduction , earlier). How to file a 1040x amendment However, you can choose instead to take a tax credit for the year of repayment if you included the income under a claim of right. How to file a 1040x amendment This means that at the time you included the income, it appeared that you had an unrestricted right to it. How to file a 1040x amendment If you qualify for this choice, figure your tax under both methods and compare the results. How to file a 1040x amendment Use the method (deduction or credit) that results in less tax. How to file a 1040x amendment When determining whether the amount you repaid was more or less than $3,000, consider the total amount being repaid on the return. How to file a 1040x amendment Each instance of repayment is not considered separately. How to file a 1040x amendment Method 1. How to file a 1040x amendment   Figure your tax for 2013 claiming a deduction for the repaid amount. How to file a 1040x amendment If you must deduct it as a miscellaneous itemized deduction, enter it on Schedule A (Form 1040), line 28. How to file a 1040x amendment Method 2. How to file a 1040x amendment   Figure your tax for 2013 claiming a credit for the repaid amount. How to file a 1040x amendment Follow these steps. How to file a 1040x amendment Figure your tax for 2013 without deducting the repaid amount. How to file a 1040x amendment Refigure your tax from the earlier year without including in income the amount you repaid in 2013. How to file a 1040x amendment Subtract the tax in (2) from the tax shown on your return for the earlier year. How to file a 1040x amendment This is the credit. How to file a 1040x amendment Subtract the answer in (3) from the tax for 2013 figured without the deduction (Step 1). How to file a 1040x amendment   If method 1 results in less tax, deduct the amount repaid. How to file a 1040x amendment If method 2 results in less tax, claim the credit figured in (3) above on Form 1040, line 71, by adding the amount of the credit to any other credits on this line, and entering “I. How to file a 1040x amendment R. How to file a 1040x amendment C. How to file a 1040x amendment 1341” in the column to the right of line 71. How to file a 1040x amendment   An example of this computation can be found in Publication 525. How to file a 1040x amendment Repaid wages subject to social security and Medicare taxes. How to file a 1040x amendment   If you had to repay an amount that you included in your wages or compensation in an earlier year on which social security, Medicare, or tier 1 RRTA taxes were paid, ask your employer to refund the excess amount to you. How to file a 1040x amendment If the employer refuses to refund the taxes, ask for a statement indicating the amount of the overcollection to support your claim. How to file a 1040x amendment File a claim for refund using Form 843, Claim for Refund and Request for Abatement. How to file a 1040x amendment Repaid wages subject to Additional Medicare Tax. How to file a 1040x amendment   Employers cannot make an adjustment or file a claim for refund for Additional Medicare Tax withholding when there is a repayment of wages received by an employee in a prior year because the employee determines liability for Additional Medicare Tax on the employee's income tax return for the prior year. How to file a 1040x amendment If you had to repay an amount that you included in your wages or compensation in an earlier year, and on which Additional Medicare Tax was paid, you may be able to recover the Additional Medicare Tax paid on the amount. How to file a 1040x amendment To recover Additional Medicare Tax on the repaid wages or compensation, you must file Form 1040X, Amended U. How to file a 1040x amendment S. How to file a 1040x amendment Individual Income Tax Return, for the prior year in which the wages or compensation were originally received. How to file a 1040x amendment See the Instructions for Form 1040X. How to file a 1040x amendment Royalties Royalties from copyrights, patents, and oil, gas, and mineral properties are taxable as ordinary income. How to file a 1040x amendment In most cases you report royalties in Part I of Schedule E (Form 1040). How to file a 1040x amendment However, if you hold an operating oil, gas, or mineral interest or are in business as a self-employed writer, inventor, artist, etc. How to file a 1040x amendment , report your income and expenses on Schedule C or Schedule C-EZ (Form 1040). How to file a 1040x amendment Copyrights and patents. How to file a 1040x amendment   Royalties from copyrights on literary, musical, or artistic works, and similar property, or from patents on inventions, are amounts paid to you for the right to use your work over a specified period of time. How to file a 1040x amendment Royalties generally are based on the number of units sold, such as the number of books, tickets to a performance, or machines sold. How to file a 1040x amendment Oil, gas, and minerals. How to file a 1040x amendment   Royalty income from oil, gas, and mineral properties is the amount you receive when natural resources are extracted from your property. How to file a 1040x amendment The royalties are based on units, such as barrels, tons, etc. How to file a 1040x amendment , and are paid to you by a person or company who leases the property from you. How to file a 1040x amendment Depletion. How to file a 1040x amendment   If you are the owner of an economic interest in mineral deposits or oil and gas wells, you can recover your investment through the depletion allowance. How to file a 1040x amendment For information on this subject, see chapter 9 of Publication 535. How to file a 1040x amendment Coal and iron ore. How to file a 1040x amendment   Under certain circumstances, you can treat amounts you receive from the disposal of coal and iron ore as payments from the sale of a capital asset, rather than as royalty income. How to file a 1040x amendment For information about gain or loss from the sale of coal and iron ore, see Publication 544. How to file a 1040x amendment Sale of property interest. How to file a 1040x amendment   If you sell your complete interest in oil, gas, or mineral rights, the amount you receive is considered payment for the sale of property used in a trade or business under section 1231, not royalty income. How to file a 1040x amendment Under certain circumstances, the sale is subject to capital gain or loss treatment as explained in the Instructions for Schedule D (Form 1040). How to file a 1040x amendment For more information on selling section 1231 property, see chapter 3 of Publication 544. How to file a 1040x amendment   If you retain a royalty, an overriding royalty, or a net profit interest in a mineral property for the life of the property, you have made a lease or a sublease, and any cash you receive for the assignment of other interests in the property is ordinary income subject to a depletion allowance. How to file a 1040x amendment Part of future production sold. How to file a 1040x amendment   If you own mineral property but sell part of the future production, in most cases you treat the money you receive from the buyer at the time of the sale as a loan from the buyer. How to file a 1040x amendment Do not include it in your income or take depletion based on it. How to file a 1040x amendment   When production begins, you include all the proceeds in your income, deduct all the production expenses, and deduct depletion from that amount to arrive at your taxable income from the property. How to file a 1040x amendment Unemployment Benefits The tax treatment of unemployment benefits you receive depends on the type of program paying the benefits. How to file a 1040x amendment Unemployment compensation. How to file a 1040x amendment   You must include in income all unemployment compensation you receive. How to file a 1040x amendment You should receive a Form 1099-G showing in box 1 the total unemployment compensation paid to you. How to file a 1040x amendment In most cases, you enter unemployment compensation on line 19 of Form 1040, line 13 of Form 1040A, or line 3 of Form 1040EZ. How to file a 1040x amendment Types of unemployment compensation. How to file a 1040x amendment   Unemployment compensation generally includes any amount received under an unemployment compensation law of the United States or of a state. How to file a 1040x amendment It includes the following benefits. How to file a 1040x amendment Benefits paid by a state or the District of Columbia from the Federal Unemployment Trust Fund. How to file a 1040x amendment State unemployment insurance benefits. How to file a 1040x amendment Railroad unemployment compensation benefits. How to file a 1040x amendment Disability payments from a government program paid as a substitute for unemployment compensation. How to file a 1040x amendment (Amounts received as workers' compensation for injuries or illness are not unemployment compensation. How to file a 1040x amendment See chapter 5 for more information. How to file a 1040x amendment ) Trade readjustment allowances under the Trade Act of 1974. How to file a 1040x amendment Unemployment assistance under the Disaster Relief and Emergency Assistance Act. How to file a 1040x amendment Unemployment assistance under the Airline Deregulation Act of 1974 Program. How to file a 1040x amendment Governmental program. How to file a 1040x amendment   If you contribute to a governmental unemployment compensation program and your contributions are not deductible, amounts you receive under the program are not included as unemployment compensation until you recover your contributions. How to file a 1040x amendment If you deducted all of your contributions to the program, the entire amount you receive under the program is included in your income. How to file a 1040x amendment Repayment of unemployment compensation. How to file a 1040x amendment   If you repaid in 2013 unemployment compensation you received in 2013, subtract the amount you repaid from the total amount you received and enter the difference on line 19 of Form 1040, line 13 of Form 1040A, or line 3 of Form 1040EZ. How to file a 1040x amendment On the dotted line next to your entry enter “Repaid” and the amount you repaid. How to file a 1040x amendment If you repaid unemployment compensation in 2013 that you included in income in an earlier year, you can deduct the amount repaid on Schedule A (Form 1040), line 23, if you itemize deductions. How to file a 1040x amendment If the amount is more than $3,000, see Repayments , earlier. How to file a 1040x amendment Tax withholding. How to file a 1040x amendment   You can choose to have federal income tax withheld from your unemployment compensation. How to file a 1040x amendment To make this choice, complete Form W-4V, Voluntary Withholding Request, and give it to the paying office. How to file a 1040x amendment Tax will be withheld at 10% of your payment. How to file a 1040x amendment    If you do not choose to have tax withheld from your unemployment compensation, you may be liable for estimated tax. How to file a 1040x amendment If you do not pay enough tax, either through withholding or estimated tax, or a combination of both, you may have to pay a penalty. How to file a 1040x amendment For more information on estimated tax, see chapter 4. How to file a 1040x amendment Supplemental unemployment benefits. How to file a 1040x amendment   Benefits received from an employer-financed fund (to which the employees did not contribute) are not unemployment compensation. How to file a 1040x amendment They are taxable as wages and are subject to withholding for income tax. How to file a 1040x amendment They may be subject to social security and Medicare taxes. How to file a 1040x amendment For more information, see Supplemental Unemployment Benefits in section 5 of Publication 15-A, Employer's Supplemental Tax Guide. How to file a 1040x amendment Report these payments on line 7 of Form 1040 or Form 1040A or on line 1 of Form 1040EZ. How to file a 1040x amendment Repayment of benefits. How to file a 1040x amendment   You may have to repay some of your supplemental unemployment benefits to qualify for trade readjustment allowances under the Trade Act of 1974. How to file a 1040x amendment If you repay supplemental unemployment benefits in the same year you receive them, reduce the total benefits by the amount you repay. How to file a 1040x amendment If you repay the benefits in a later year, you must include the full amount of the benefits received in your income for the year you received them. How to file a 1040x amendment   Deduct the repayment in the later year as an adjustment to gross income on Form 1040. How to file a 1040x amendment (You cannot use Form 1040A or Form 1040EZ. How to file a 1040x amendment ) Include the repayment on Form 1040, line 36, and enter “Sub-Pay TRA” and the amount on the dotted line next to line 36. How to file a 1040x amendment If the amount you repay in a later year is more than $3,000, you may be able to take a credit against your tax for the later year instead of deducting the amount repaid. How to file a 1040x amendment For more information on this, see Repayments , earlier. How to file a 1040x amendment Private unemployment fund. How to file a 1040x amendment   Unemployment benefit payments from a private (nonunion) fund to which you voluntarily contribute are taxable only if the amounts you receive are more than your total payments into the fund. How to file a 1040x amendment Report the taxable amount on Form 1040, line 21. How to file a 1040x amendment Payments by a union. How to file a 1040x amendment   Benefits paid to you as an unemployed member of a union from regular union dues are included in your income on Form 1040, line 21. How to file a 1040x amendment However, if you contribute to a special union fund and your payments to the fund are not deductible, the unemployment benefits you receive from the fund are includible in your income only to the extent they are more than your contributions. How to file a 1040x amendment Guaranteed annual wage. How to file a 1040x amendment   Payments you receive from your employer during periods of unemployment, under a union agreement that guarantees you full pay during the year, are taxable as wages. How to file a 1040x amendment Include them on line 7 of Form 1040 or Form 1040A or on line 1 of Form 1040EZ. How to file a 1040x amendment State employees. How to file a 1040x amendment   Payments similar to a state's unemployment compensation may be made by the state to its employees who are not covered by the state's unemployment compensation law. How to file a 1040x amendment Although the payments are fully taxable, do not report them as unemployment compensation. How to file a 1040x amendment Report these payments on Form 1040, line 21. How to file a 1040x amendment Welfare and Other Public Assistance Benefits Do not include in your income governmental benefit payments from a public welfare fund based upon need, such as payments to blind individuals under a state public assistance law. How to file a 1040x amendment Payments from a state fund for the victims of crime should not be included in the victims' incomes if they are in the nature of welfare payments. How to file a 1040x amendment Do not deduct medical expenses that are reimbursed by such a fund. How to file a 1040x amendment You must include in your income any welfare payments that are compensation for services or that are obtained fraudulently. How to file a 1040x amendment Reemployment Trade Adjustment Assistance (RTAA) payments. How to file a 1040x amendment   RTAA payments received from a state must be included in your income. How to file a 1040x amendment The state must send you Form 1099-G to advise you of the amount you should include in income. How to file a 1040x amendment The amount should be reported on Form 1040, line 21. How to file a 1040x amendment Persons with disabilities. How to file a 1040x amendment   If you have a disability, you must include in income compensation you receive for services you perform unless the compensation is otherwise excluded. How to file a 1040x amendment However, you do not include in income the value of goods, services, and cash that you receive, not in return for your services, but for your training and rehabilitation because you have a disability. How to file a 1040x amendment Excludable amounts include payments for transportation and attendant care, such as interpreter services for the deaf, reader services for the blind, and services to help individuals with an intellectual disability do their work. How to file a 1040x amendment Disaster relief grants. How to file a 1040x amendment    Do not include post-disaster grants received under the Robert T. How to file a 1040x amendment Stafford Disaster Relief and Emergency Assistance Act in your income if the grant payments are made to help you meet necessary expenses or serious needs for medical, dental, housing, personal property, transportation, child care, or funeral expenses. How to file a 1040x amendment Do not deduct casualty losses or medical expenses that are specifically reimbursed by these disaster relief grants. How to file a 1040x amendment If you have deducted a casualty loss for the loss of your personal residence and you later receive a disaster relief grant for the loss of the same residence, you may have to include part or all of the grant in your taxable income. How to file a 1040x amendment See Recoveries , earlier. How to file a 1040x amendment Unemployment assistance payments under the Act are taxable unemployment compensation. How to file a 1040x amendment See Unemployment compensation under Unemployment Benefits, earlier. How to file a 1040x amendment Disaster relief payments. How to file a 1040x amendment   You can exclude from income any amount you receive that is a qualified disaster relief payment. How to file a 1040x amendment A qualified disaster relief payment is an amount paid to you: To reimburse or pay reasonable and necessary personal, family, living, or funeral expenses that result from a qualified disaster; To reimburse or pay reasonable and necessary expenses incurred for the repair or rehabilitation of your home or repair or replacement of its contents to the extent it is due to a qualified disaster; By a person engaged in the furnishing or sale of transportation as a common carrier because of the death or personal physical injuries incurred as a result of a qualified disaster; or By a federal, state, or local government, or agency, or instrumentality in connection with a qualified disaster in order to promote the general welfare. How to file a 1040x amendment You can exclude this amount only to the extent any expense it pays for is not paid for by insurance or otherwise. How to file a 1040x amendment The exclusion does not apply if you were a participant or conspirator in a terrorist action or a representative of one. How to file a 1040x amendment   A qualified disaster is: A disaster which results from a terrorist or military action; A federally declared disaster; or A disaster which results from an accident involving a common carrier, or from any other event, which is determined to be catastrophic by the Secretary of the Treasury or his or her delegate. How to file a 1040x amendment   For amounts paid under item (4), a disaster is qualified if it is determined by an applicable federal, state, or local authority to warrant assistance from the federal, state, or local government, agency, or instrumentality. How to file a 1040x amendment Disaster mitigation payments. How to file a 1040x amendment   You also can exclude from income any amount you receive that is a qualified disaster mitigation payment. How to file a 1040x amendment Qualified disaster mitigation payments are also most commonly paid to you in the period immediately following damage to property as a result of a natural disaster. How to file a 1040x amendment However, disaster mitigation payments are used to mitigate (reduce the severity of) potential damage from future natural disasters. How to file a 1040x amendment They are paid to you through state and local governments based on the provisions of the Robert T. How to file a 1040x amendment Stafford Disaster Relief and Emergency Assistance Act or the National Flood Insurance Act. How to file a 1040x amendment   You cannot increase the basis or adjusted basis of your property for improvements made with nontaxable disaster mitigation payments. How to file a 1040x amendment Home Affordable Modification Program (HAMP). How to file a 1040x amendment   If you benefit from Pay-for-Performance Success Payments under HAMP, the payments are not taxable. How to file a 1040x amendment Mortgage assistance payments under section 235 of the National Housing Act. How to file a 1040x amendment   Payments made under section 235 of the National Housing Act for mortgage assistance are not included in the homeowner's income. How to file a 1040x amendment Interest paid for the homeowner under the mortgage assistance program cannot be deducted. How to file a 1040x amendment Medicare. How to file a 1040x amendment   Medicare benefits received under title XVIII of the Social Security Act are not includible in the gross income of the individuals for whom they are paid. How to file a 1040x amendment This includes basic (part A (Hospital Insurance Benefits for the Aged)) and supplementary (part B (Supplementary Medical Insurance Benefits for the Aged)). How to file a 1040x amendment Old-age, survivors, and disability insurance benefits (OASDI). How to file a 1040x amendment   Generally, OASDI payments under section 202 of title II of the Social Security Act are not includible in the gross income of the individuals to whom they are paid. How to file a 1040x amendment This applies to old-age insurance benefits, and insurance benefits for wives, husbands, children, widows, widowers, mothers and fathers, and parents, as well as the lump-sum death payment. How to file a 1040x amendment Nutrition Program for the Elderly. How to file a 1040x amendment    Food benefits you receive under the Nutrition Program for the Elderly are not taxable. How to file a 1040x amendment If you prepare and serve free meals for the program, include in your income as wages the cash pay you receive, even if you are also eligible for food benefits. How to file a 1040x amendment Payments to reduce cost of winter energy. How to file a 1040x amendment   Payments made by a state to qualified people to reduce their cost of winter energy use are not taxable. How to file a 1040x amendment Other Income The following brief discussions are arranged in alphabetical order. How to file a 1040x amendment Other income items briefly discussed below are referenced to publications which provide more topical information. How to file a 1040x amendment Activity not for profit. How to file a 1040x amendment   You must include on your return income from an activity from which you do not expect to make a profit. How to file a 1040x amendment An example of this type of activity is a hobby or a farm you operate mostly for recreation and pleasure. How to file a 1040x amendment Enter this income on Form 1040, line 21. How to file a 1040x amendment Deductions for expenses related to the activity are limited. How to file a 1040x amendment They cannot total more than the income you report and can be taken only if you itemize deductions on Schedule A (Form 1040). How to file a 1040x amendment See Not-for-Profit Activities in chapter 1 of Publication 535 for information on whether an activity is considered carried on for a profit. How to file a 1040x amendment Alaska Permanent Fund dividend. How to file a 1040x amendment   If you received a payment from Alaska's mineral income fund (Alaska Permanent Fund dividend), report it as income on line 21 of Form 1040, line 13 of Form 1040A, or line 3 of Form 1040EZ. How to file a 1040x amendment The state of Alaska sends each recipient a document that shows the amount of the payment with the check. How to file a 1040x amendment The amount also is reported to IRS. How to file a 1040x amendment Alimony. How to file a 1040x amendment   Include in your income on Form 1040, line 11, any alimony payments you receive. How to file a 1040x amendment Amounts you receive for child support are not income to you. How to file a 1040x amendment Alimony and child support payments are discussed in chapter 18. How to file a 1040x amendment Bribes. How to file a 1040x amendment   If you receive a bribe, include it in your income. How to file a 1040x amendment Campaign contributions. How to file a 1040x amendment   These contributions are not income to a candidate unless they are diverted to his or her personal use. How to file a 1040x amendment To be exempt from tax, the contributions must be spent for campaign purposes or kept in a fund for use in future campaigns. How to file a 1040x amendment However, interest earned on bank deposits, dividends received on contributed securities, and net gains realized on sales of contributed securities are taxable and must be reported on Form 1120-POL, U. How to file a 1040x amendment S. How to file a 1040x amendment Income Tax Return for Certain Political Organizations. How to file a 1040x amendment Excess campaign funds transferred to an office account must be included in the officeholder's income on Form 1040, line 21, in the year transferred. How to file a 1040x amendment Car pools. How to file a 1040x amendment   Do not include in your income amounts you receive from the passengers for driving a car in a car pool to and from work. How to file a 1040x amendment These amounts are considered reimbursement for your expenses. How to file a 1040x amendment However, this rule does not apply if you have developed car pool arrangements into a profit-making business of transporting workers for hire. How to file a 1040x amendment Cash rebates. How to file a 1040x amendment   A cash rebate you receive from a dealer or manufacturer of an item you buy is not income, but you must reduce your basis by the amount of the rebate. How to file a 1040x amendment Example. How to file a 1040x amendment You buy a new car for $24,000 cash and receive a $2,000 rebate check from the manufacturer. How to file a 1040x amendment The $2,000 is not income to you. How to file a 1040x amendment Your basis in the car is $22,000. How to file a 1040x amendment This is the basis on which you figure gain or loss if you sell the car and depreciation if you use it for business. How to file a 1040x amendment Casualty insurance and other reimbursements. How to file a 1040x amendment   You generally should not report these reimbursements on your return unless you are figuring gain or loss from the casualty or theft. How to file a 1040x amendment See chapter 25 for more information. How to file a 1040x amendment Child support payments. How to file a 1040x amendment   You should not report these payments on your return. How to file a 1040x amendment See chapter 18 for more information. How to file a 1040x amendment Court awards and damages. How to file a 1040x amendment   To determine if settlement amounts you receive by compromise or judgment must be included in your income, you must consider the item that the settlement replaces. How to file a 1040x amendment The character of the income as ordinary income or capital gain depends on the nature of the underlying claim. How to file a 1040x amendment Include the following as ordinary income. How to file a 1040x amendment Interest on any award. How to file a 1040x amendment Compensation for lost wages or lost profits in most cases. How to file a 1040x amendment Punitive damages, in most cases. How to file a 1040x amendment It does not matter if they relate to a physical injury or physical sickness. How to file a 1040x amendment Amounts received in settlement of pension rights (if you did not contribute to the plan). How to file a 1040x amendment Damages for: Patent or copyright infringement, Breach of contract, or Interference with business operations. How to file a 1040x amendment Back pay and damages for emotional distress received to satisfy a claim under title VII of the Civil Rights Act of 1964. How to file a 1040x amendment Attorney fees and costs (including contingent fees) where the underlying recovery is included in gross income. How to file a 1040x amendment   Do not include in your income compensatory damages for personal physical injury or physical sickness (whether received in a lump sum or installments). How to file a 1040x amendment Emotional distress. How to file a 1040x amendment   Emotional distress itself is not a physical injury or physical sickness, but damages you receive for emotional distress due to a physical injury or sickness are treated as received for the physical injury or sickness. How to file a 1040x amendment Do not include them in your income. How to file a 1040x amendment   If the emotional distress is due to a personal injury that is not due to a physical injury or sickness (for example, employment discrimination or injury to reputation), you must include the damages in your income, except for any damages you receive for medical care due to that emotional distress. How to file a 1040x amendment Emotional distress includes physical symptoms that result from emotional distress, such as headaches, insomnia, and stomach disorders. How to file a 1040x amendment Deduction for costs involved in unlawful discrimination suits. How to file a 1040x amendment   You may be able to deduct attorney fees and court costs paid to recover a judgment or settlement for a claim of unlawful discrimination under various provisions of federal, state, and local law listed in Internal Revenue Code section 62(e), a claim against the United States government, or a claim under section 1862(b)(3)(A) of the Social Security Act. How to file a 1040x amendment For more information, see Publication 525. How to file a 1040x amendment Credit card insurance. How to file a 1040x amendment   In most cases, if you receive benefits under a credit card disability or unemployment insurance plan, the benefits are taxable to you. How to file a 1040x amendment These plans make the minimum monthly payment on your credit card account if you cannot make the payment due to injury, illness, disability, or unemployment. How to file a 1040x amendment Report on Form 1040, line 21, the amount of benefits you received during the year that is more than the amount of the premiums you paid during the year. How to file a 1040x amendment Down payment assistance. How to file a 1040x amendment   If you purchase a home and receive assistance from a nonprofit corporation to make the down payment, that assistance is not included in your income. How to file a 1040x amendment If the corporation qualifies as a tax-exempt charitable organization, the assistance is treated as a gift and is included in your basis of the house. How to file a 1040x amendment If the corporation does not qualify, the assistance is treated as a rebate or reduction of the purchase price and is not included in your basis. How to file a 1040x amendment Employment agency fees. How to file a 1040x amendment   If you get a job through an employment agency, and the fee is paid by your employer, the fee is not includible in your income if you are not liable for it. How to file a 1040x amendment However, if you pay it and your employer reimburses you for it, it is includible in your income. How to file a 1040x amendment Energy conservation subsidies. How to file a 1040x amendment   You can exclude from gross income any subsidy provided, either directly or indirectly, by public utilities for the purchase or installation of an energy conservation measure for a dwelling unit. How to file a 1040x amendment Energy conservation measure. How to file a 1040x amendment   This includes installations or modifications that are primarily designed to reduce consumption of electricity or natural gas, or improve the management of energy demand. How to file a 1040x amendment Dwelling unit. How to file a 1040x amendment   This includes a house, apartment, condominium, mobile home, boat, or similar property. How to file a 1040x amendment If a building or structure contains both dwelling and other units, any subsidy must be properly allocated. How to file a 1040x amendment Estate and trust income. How to file a 1040x amendment    An estate or trust, unlike a partnership, may have to pay federal income tax. How to file a 1040x amendment If you are a beneficiary of an estate or trust, you may be taxed on your share of its income distributed or required to be distributed to you. How to file a 1040x amendment However, there is never a double tax. How to file a 1040x amendment Estates and trusts file their returns on Form 1041, U. How to file a 1040x amendment S. How to file a 1040x amendment Income Tax Return for Estates and Trusts, and your share of the income is reported to you on Schedule K-1 (Form 1041). How to file a 1040x amendment Current income required to be distributed. How to file a 1040x amendment   If you are the beneficiary of an estate or trust that must distribute all of its current income, you must report your share of the distributable net income, whether or not you actually received it. How to file a 1040x amendment Current income not required to be distributed. How to file a 1040x amendment    If you are the beneficiary of an estate or trust and the fiduciary has the choice of whether to distribute all or part of the current income, you must report: All income that is required to be distributed to you, whether or not it is actually distributed, plus All other amounts actually paid or credited to you, up to the amount of your share of distributable net income. How to file a 1040x amendment How to report. How to file a 1040x amendment   Treat each item of income the same way that the estate or trust would treat it. How to file a 1040x amendment For example, if a trust's dividend income is distributed to you, you report the distribution as dividend income on your return. How to file a 1040x amendment The same rule applies to distributions of tax-exempt interest and capital gains. How to file a 1040x amendment   The fiduciary of the estate or trust must tell you the type of items making up your share of the estate or trust income and any credits you are allowed on your individual income tax return. How to file a 1040x amendment Losses. How to file a 1040x amendment   Losses of estates and trusts generally are not deductible by the beneficiaries. How to file a 1040x amendment Grantor trust. How to file a 1040x amendment   Income earned by a grantor trust is taxable to the grantor, not the beneficiary, if the grantor keeps certain control over the trust. How to file a 1040x amendment (The grantor is the one who transferred property to the trust. How to file a 1040x amendment ) This rule applies if the property (or income from the property) put into the trust will or may revert (be returned) to the grantor or the grantor's spouse. How to file a 1040x amendment   Generally, a trust is a grantor trust if the grantor has a reversionary interest valued (at the date of transfer) at more than 5% of the value of the transferred property. How to file a 1040x amendment Expenses paid by another. How to file a 1040x amendment   If your personal expenses are paid for by another person, such as a corporation, the payment may be taxable to you depending upon your relationship with that person and the nature of the payment. How to file a 1040x amendment But if the payment makes up for a loss caused by that person, and only restores you to the position you were in before the loss, the payment is not includible in your income. How to file a 1040x amendment Fees for services. How to file a 1040x amendment   Include all fees for your services in your income. How to file a 1040x amendment Examples of these fees are amounts you receive for services you perform as: A corporate director, An executor, administrator, or personal representative of an estate, A manager of a trade or business you operated before declaring Chapter 11 bankruptcy, A notary public, or An election precinct official. How to file a 1040x amendment Nonemployee compensation. How to file a 1040x amendment   If you are not an employee and the fees for your services from the same payer total $600 or more for the year, you may receive a Form 1099-MISC. How to file a 1040x amendment You may need to report your fees as self-employment income. How to file a 1040x amendment See Self-Employed Persons , in chapter 1, for a discussion of when you are considered self-employed. How to file a 1040x amendment Corporate director. How to file a 1040x amendment   Corporate director fees are self-employment income. How to file a 1040x amendment Report these payments on Schedule C or Schedule C-EZ (Form 1040). How to file a 1040x amendment Personal representatives. How to file a 1040x amendment   All personal representatives must include in their gross income fees paid to them from an estate. How to file a 1040x amendment If you are not in the trade or business of being an executor (for instance, you are the executor of a friend's or relative's estate), report these fees on Form 1040, line 21. How to file a 1040x amendment If you are in the trade or business of being an executor, report these fees as self-employment income on Schedule C or Schedule C-EZ (Form 1040). How to file a 1040x amendment The fee is not includible in income if it is waived. How to file a 1040x amendment Manager of trade or business for bankruptcy estate. How to file a 1040x amendment   Include in your income all payments received from your bankruptcy estate for managing or operating a trade or business that you operated before you filed for bankruptcy. How to file a 1040x amendment Report this income on Form 1040, line 21. How to file a 1040x amendment Notary public. How to file a 1040x amendment    Report payments for these services on Schedule C or Schedule C-EZ (Form 1040). How to file a 1040x amendment These payments are not subject to self-employment tax. How to file a 1040x amendment See the separate instructions for Schedule SE (Form 1040) for details. How to file a 1040x amendment Election precinct official. How to file a 1040x amendment    You should receive a Form W-2 showing payments for services performed as an election official or election worker. How to file a 1040x amendment Report these payments on line 7 of Form 1040 or Form 1040A or on line 1 of Form 1040EZ. How to file a 1040x amendment Foster care providers. How to file a 1040x amendment   Payments you receive from a state, political subdivision, or a qualified foster care placement agency for providing care to qualified foster individuals in your home generally are not included in your income. How to file a 1040x amendment However, you must include in your income payments received for the care of more than 5 individuals age 19 or older and certain difficulty-of-care payments. How to file a 1040x amendment   A qualified foster individual is a person who: Is living in a foster family home, and Was placed there by: An agency of a state or one of its political subdivisions, or A qualified foster care placement agency. How to file a 1040x amendment Difficulty-of-care payments. How to file a 1040x amendment   These are additional payments that are designated by the payer as compensation for providing the additional care that is required for physically, mentally, or emotionally handicapped qualified foster individuals. How to file a 1040x amendment A state must determine that the additional compensation is needed, and the care for which the payments are made must be provided in your home. How to file a 1040x amendment   You must include in your income difficulty-of-care payments received for more than: 10 qualified foster individuals under age 19, or 5 qualified foster individuals age 19 or older. How to file a 1040x amendment Maintaining space in home. How to file a 1040x amendment   If you are paid to maintain space in your home for emergency foster care, you must include the payment in your income. How to file a 1040x amendment Reporting taxable payments. How to file a 1040x amendment    If you receive payments that you must include in your income, you are in business as a foster care provider and you are self-employed. How to file a 1040x amendment Report the payments on Schedule C or Schedule C-EZ (Form 1040). How to file a 1040x amendment See Publication 587, Business Use of Your Home, to help you determine the amount you can deduct for the use of your home. How to file a 1040x amendment Found property. How to file a 1040x amendment   If you find and keep property that does not belong to you that has been lost or abandoned (treasure-trove), it is taxable to you at its fair market value in the first year it is your undisputed possession. How to file a 1040x amendment Free tour. How to file a 1040x amendment   If you received a free tour from a travel agency for organizing a group of tourists, you must include its value in your income. How to file a 1040x amendment Report the fair market value of the tour on Form 1040, line 21, if you are not in the trade or business of organizing tours. How to file a 1040x amendment You cannot deduct your expenses in serving as the voluntary leader of the group at the group's request. How to file a 1040x amendment If you organize tours as a trade or business, report the tour's value on Schedule C or Schedule C-EZ (Form 1040). How to file a 1040x amendment Gambling winnings. How to file a 1040x amendment   You must include your gambling winnings in income on Form 1040, line 21. How to file a 1040x amendment If you itemize your deductions on Schedule A (Form 1040), you can deduct gambling losses you had during the year, but only up to the amount of your winnings. How to file a 1040x amendment Lotteries and raffles. How to file a 1040x amendment   Winnings from lotteries and raffles are gambling winnings. How to file a 1040x amendment In addition to cash winnings, you must include in your income the fair market value of bonds, cars, houses, and other noncash prizes. How to file a 1040x amendment    If you win a state lottery prize payable in installments, see Publication 525 for more information. How to file a 1040x amendment Form W-2G. How to file a 1040x amendment   You may have received a Form W-2G, Certain Gambling Winnings, showing the amount of your gambling winnings and any tax taken out of them. How to file a 1040x amendment Include the amount from box 1 on Form 1040, line 21. How to file a 1040x amendment Include the amount shown in box 4 on Form 1040, line 62, as federal income tax withheld. How to file a 1040x amendment Reporting winnings and recordkeeping. How to file a 1040x amendment   For more information on reporting gam
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Letter 2272C Frequently Asked Questions (FAQs)

What is the letter telling me?

This letter is a response to your oral or written request to pay your balance due in installments. It explains why the IRS cannot establish the agreement.

What do I have to do?

Provide the IRS the requested information or provide an explanation on why you cannot.

How much time do I have?

The letter provides you a specific amount of time you have to gather the requested information and return it to us. However, responding quickly will resolve your account issue sooner.

What happens if I don't take any action?

The law allows IRS to proceed with enforcement action which could result in a levy on your bank account or wages, or liens on personal property.

Who should I contact?

The letter provides a specific contact telephone number. The person who answers the phone will assist you.

What if I don't agree or have already taken corrective action?

If your Installment Agreement is rejected, the letter will provide you information on how to Appeal the Rejection. If you have provided the information we requested within the last 45 days, you may want to call the number on the letter to verify your case is being re-considered.

Page Last Reviewed or Updated: 30-Jan-2014

The How To File A 1040x Amendment

How to file a 1040x amendment 31. How to file a 1040x amendment   Impuesto sobre Ingresos No Derivados del Trabajo de Determinados Hijos Table of Contents ¿Que Hay de Nuevo? Introduction Useful Items - You may want to see: Cómo Saber si se Tiene que Utilizar la Declaración del Padre o de la MadrePadres que no Presentan la Declaración Conjunta Elección de los Padres de Declarar los Intereses y Dividendos del HijoConsecuencias de Incluir los Ingresos del Hijo Cómo Calcular los Ingresos del Hijo Cómo Calcular el Impuesto Adicional Impuesto para Determinados Hijos con Ingresos No Derivados del TrabajoCómo Facilitar Información sobre los Padres (líneas A-C del Formulario 8615) Paso 1. How to file a 1040x amendment Cómo Calcular los Ingresos Netos No Derivados del Trabajo del Hijo (Parte I del Formulario 8615) Paso 2. How to file a 1040x amendment Cómo Calcular el Impuesto Provisional a la Tasa Impositiva de los Padres (Parte II del Formulario 8615) Paso 3. How to file a 1040x amendment Cómo Calcular el Impuesto del Hijo (Parte III del Formulario 8615) ¿Que Hay de Nuevo? Impuesto sobre el ingreso neto de inversiones. How to file a 1040x amendment  Para años empezando después del 31 de diciembre de 2012, el impuesto de un hijo, el cual se calcula en el Formulario 8615, puede estar sujeto al impuesto sobre el ingreso neto de inversiones (NIIT, por sus siglas en inglés). How to file a 1040x amendment El NIIT es un impuesto de 3. How to file a 1040x amendment 8% sobre la cantidad menor entre el ingreso neto de inversión o el exceso del ingreso bruto ajustado modificado (MAGI) del hijo que exceda del límite superior específico. How to file a 1040x amendment Utilice el Formulario 8960, Net Investment Income Tax (Impuesto sobre ingreso neto de inversiones), en inglés, para calcular este impuesto. How to file a 1040x amendment Para más información sobre el NIIT, visite www. How to file a 1040x amendment irs. How to file a 1040x amendment gov e ingrese “Net Investment Income Tax” en la casilla de búsqueda “Search” (Buscar), en inglés. How to file a 1040x amendment Introduction Este capítulo explica los dos requisitos siguientes, los cuales podrían afectar el impuesto sobre ingresos no derivados del trabajo de determinados hijos: Si los ingresos procedentes de intereses y dividendos del hijo (incluidas las distribuciones de ganancias de capital) totalizan menos de $10,000, el padre o la madre tal vez pueda optar por incluir dichos ingresos en la declaración de uno de los padres en vez de presentar una declaración a nombre del hijo. How to file a 1040x amendment Vea Elección de los Padres de Declarar Intereses y Dividendos del Hijo , más adelante. How to file a 1040x amendment Si el total de intereses, dividendos y otros ingresos no derivados del trabajo del hijo sobrepasa $2,000, una parte de dichos ingresos podría estar sujeta a la misma tasa de impuesto que la de sus padres en lugar de estar sujeta a la tasa del hijo. How to file a 1040x amendment (Vea Impuesto para Determinados Hijos con Ingresos No Derivados del Trabajo , más adelante). How to file a 1040x amendment En lo que concierne a estos requisitos, el término “hijo” abarca a hijos legalmente adoptados e hijastros. How to file a 1040x amendment Estos requisitos corresponden tanto si el hijo es dependiente como si no lo es. How to file a 1040x amendment Useful Items - You may want to see: Publicación 929 Tax Rules for Children and Dependents (Requisitos tributarios para hijos y dependientes), en inglés Formulario (e Instrucciones) 8615 Tax for Certain Children Who Have Unearned Income (Impuesto para determinados hijos con ingresos no derivados del trabajo), en inglés 8814 Parents' Election To Report Child's Interest and Dividends (Elección de los padres de declarar los intereses y dividendos del hijo), en inglés Cómo Saber si se Tiene que Utilizar la Declaración del Padre o de la Madre Si los padres del hijo están casados el uno con el otro y presentan una declaración conjunta, básese en la declaración conjunta para calcular el impuesto sobre los ingresos no derivados del trabajo de dicho hijo. How to file a 1040x amendment La tasa impositiva y otra información de dicha declaración se utiliza para calcular el impuesto del hijo según se explica más adelante bajo Impuesto para Determinados Hijos con Ingresos No Derivados del Trabajo . How to file a 1040x amendment Padres que no Presentan la Declaración Conjunta Para los padres que no presenten la declaración conjunta, los siguientes temas aclaran, cuál declaración de impuestos de los padres tiene que utilizar para calcular el impuesto. How to file a 1040x amendment Sólo el padre o la madre cuya declaración se utilice puede elegir la opción descrita bajo Elección de los Padres de Declarar Intereses y Dividendos del Hijo . How to file a 1040x amendment Padres casados. How to file a 1040x amendment   Si los padres del hijo presentan declaraciones por separado, utilice la declaración de quien tenga el mayor ingreso tributable. How to file a 1040x amendment Padres que no viven juntos. How to file a 1040x amendment   Si los padres del hijo están casados el uno con el otro pero no viven juntos, y el padre o la madre con quien vive el hijo (el padre o la madre con custodia) se considera no casado, utilice la declaración del padre o de la madre con custodia. How to file a 1040x amendment Si el padre o la madre con custodia no es considerado no casado, utilice la declaración de quien tenga el mayor ingreso tributable. How to file a 1040x amendment   Para una explicación sobre cuándo una persona casada que vive aparte de su cónyuge es considerada no casada, vea Cabeza de Familia en el capítulo 2. How to file a 1040x amendment Padres divorciados. How to file a 1040x amendment   Si los padres del hijo están divorciados o legalmente separados y el padre o la madre que tuvo la custodia del hijo durante la mayor parte del año (el padre o la madre con custodia) no se ha vuelto a casar, utilice la declaración del padre o de la madre con custodia. How to file a 1040x amendment Padre o madre con custodia que se ha vuelto a casar. How to file a 1040x amendment   Si el padre o la madre con custodia ha vuelto a casarse, el padrastro o la madrastra (en vez del padre o la madre sin custodia) se considera el otro padre o la otra madre del hijo. How to file a 1040x amendment Por lo tanto, si el padre o la madre con custodia y el padrastro o la madrastra presentan una declaración conjunta, utilice dicha declaración conjunta. How to file a 1040x amendment No utilice la declaración del padre o de la madre sin custodia. How to file a 1040x amendment   Si el padre o la madre con custodia está casado con el padrastro o la madrastra pero presentan declaraciones por separado, utilice la declaración de quien tenga el mayor ingreso tributable. How to file a 1040x amendment Si el padre o la madre con custodia está casado con el padrastro o la madrastra pero no viven juntos, corresponde el tema anterior Padres que no viven juntos . How to file a 1040x amendment Padres que nunca se han casado. How to file a 1040x amendment   Si los padres del hijo nunca han estado casados el uno con el otro pero vivieron juntos durante todo el año, utilice la declaración de quien tenga el mayor ingreso tributable. How to file a 1040x amendment Si los padres no vivieron juntos durante todo el año, corresponden los requisitos explicados anteriormente bajo Padres divorciados . How to file a 1040x amendment Padre viudo o madre viuda que se vuelve a casar. How to file a 1040x amendment   Si un viudo o una viuda vuelve a casarse, el nuevo cónyuge se considera el otro padre o la otra madre del hijo. How to file a 1040x amendment En este caso, corresponden los requisitos explicados anteriormente bajo Padre o madre con custodia que se ha vuelto a casar . How to file a 1040x amendment Elección de los Padres de Declarar los Intereses y Dividendos del Hijo Tal vez pueda optar por incluir los ingresos de su hijo procedentes de intereses y dividendos (incluidas las distribuciones de ganancias de capital) en la declaración de impuestos. How to file a 1040x amendment En tal caso, su hijo no estará obligado a presentar una declaración. How to file a 1040x amendment Puede elegir esta opción sólo si se cumplen todas las condiciones siguientes: Su hijo tenía menos de 19 años de edad (o tenía menos de 24 años si era estudiante a tiempo completo) al finalizar el año. How to file a 1040x amendment Su hijo recibió ingresos sólo de intereses y dividendos (incluidas las distribuciones de ganancias de capital y dividendos del Alaska Permanent Fund (Fondo Permanente de Alaska)). How to file a 1040x amendment Los ingresos brutos del hijo eran menos de $10,000. How to file a 1040x amendment El hijo está obligado a presentar la declaración a no ser que usted elija incluir estos ingresos. How to file a 1040x amendment El hijo no presenta una declaración conjunta correspondiente al año actual. How to file a 1040x amendment No se efectuó ningún pago de impuestos estimados para el año ni se aplicó a este año ningún pago del año anterior (ni de una declaración enmendada) en exceso bajo el nombre y número de Seguro Social de su hijo. How to file a 1040x amendment No se retuvo de los ingresos de su hijo ningún impuesto federal sobre los ingresos conforme a las reglas de la retención adicional. How to file a 1040x amendment Usted es el padre o la madre cuya declaración se tiene que utilizar al aplicar los requisitos tributarios especiales para hijos. How to file a 1040x amendment (Vea Cómo Saber si se Tiene que Utilizar la Declaración del Padre o de la Madre , anteriormente). How to file a 1040x amendment Estas condiciones se hallan también en la Figura 31-A. How to file a 1040x amendment Determinados cumpleaños el 1 de enero. How to file a 1040x amendment   Un hijo que haya nacido el 1 de enero de 1995 se considerará de 19 años de edad al final del año 2013. How to file a 1040x amendment Usted no puede optar por declarar los intereses y dividendos de tal hijo a menos que éste fuera estudiante a tiempo completo. How to file a 1040x amendment   Aquel hijo que haya nacido el 1 de enero de 1990 se considerará de 24 años de edad al final del año 2013. How to file a 1040x amendment Usted no puede optar por declarar los intereses y dividendos de tal hijo. How to file a 1040x amendment Estudiante a tiempo completo. How to file a 1040x amendment   Un estudiante a tiempo completo es un hijo matriculado como tal durante alguna parte de cada uno de 5 meses del año calendario en una escuela o que asistió a tiempo completo a un curso de capacitación agrícola ofrecido sobre el terreno por una escuela, agencia del estado, condado o gobierno local. How to file a 1040x amendment El término “escuela” abarca escuelas politécnicas, profesionales e industriales. How to file a 1040x amendment Una escuela no incluye un curso de capacitación en el trabajo, escuela por correspondencia, ni escuelas que ofrecen cursos sólo por Internet. How to file a 1040x amendment Cómo optar por incluir los ingresos de su hijo. How to file a 1040x amendment   Elija incluir los ingresos de su hijo adjuntando el Formulario 8814 al Formulario 1040. How to file a 1040x amendment (Si opta por hacer esto, no puede presentar el Formulario 1040A ni el Formulario 1040EZ). How to file a 1040x amendment Adjunte un Formulario 8814 distinto correspondiente a cada hijo cuyos ingresos desee incluir. How to file a 1040x amendment Puede incluir los ingresos de uno o más hijos y no incluir los ingresos de otros. How to file a 1040x amendment Consecuencias de Incluir los Ingresos del Hijo El impuesto federal sobre los ingresos de su hijo podría ser mayor si opta por usar el Formulario 8814. How to file a 1040x amendment La tasa impositiva podría ser más alta. How to file a 1040x amendment   Si su hijo recibió dividendos calificados o distribuciones de ganancias de capital, usted podría pagar hasta $100 adicionales de impuestos si incluye los ingresos de su hijo en vez de presentar una declaración de impuestos por separado a nombre del hijo. How to file a 1040x amendment Esto se debe a que la tasa impositiva que corresponde a los ingresos de su hijo entre $1,000 y $2,000 es de 10% si usted opta por incluirlos. How to file a 1040x amendment No obstante, si presenta una declaración por separado en nombre del hijo, la tasa impositiva podría bajar hasta 0% (porcentaje de cero) debido a las tasas impositivas preferentes para dividendos calificados y distribuciones de ganancias de capital. How to file a 1040x amendment Deducciones que no puede tomar. How to file a 1040x amendment   Al hacer la elección de incluir estos ingresos en el Formulario 8814, no puede tomar ninguna de las deducciones siguientes a la que el hijo tendría derecho en su propia declaración. How to file a 1040x amendment La deducción estándar adicional si el hijo es ciego. How to file a 1040x amendment La deducción por una multa por el retiro prematuro de los ahorros de su hijo. How to file a 1040x amendment Deducciones detalladas (como gastos de inversiones de su hijo o donaciones caritativas). How to file a 1040x amendment Deducciones o créditos reducidos. How to file a 1040x amendment   Si utiliza el Formulario 8814, su ingreso bruto ajustado aumentado podría reducir determinados créditos o deducciones en la declaración, incluyendo lo siguiente: Deducciones por aportaciones a una cuenta de ahorros tradicional para la jubilación (IRA, por sus siglas en inglés). How to file a 1040x amendment Deducciones por intereses sobre un préstamo de estudios. How to file a 1040x amendment Deducciones detalladas por gastos médicos, pérdidas por hecho fortuito y robo y ciertos gastos misceláneos. How to file a 1040x amendment Crédito por gastos del cuidado de hijos y dependientes. How to file a 1040x amendment Crédito tributario por hijos. How to file a 1040x amendment Créditos tributarios por estudios. How to file a 1040x amendment Crédito por ingreso del trabajo. How to file a 1040x amendment Figura 31-A. How to file a 1040x amendment ¿Puede Incluir Usted en su Declaración de Impuestos los Ingresos de su Hijo? Please click here for the text description of the image. How to file a 1040x amendment Figura 31–A. How to file a 1040x amendment ¿Puede Incluir Usted en su Declaración de Impuestos los Ingresos de su Hijo? Multa por pago insuficiente del impuesto estimado. How to file a 1040x amendment   Si elige incluir estos ingresos para 2013 y no se le retuvo impuesto suficiente o no pagó suficiente impuesto estimado para saldar los impuestos adeudados, podría estar sujeto a una multa. How to file a 1040x amendment Si piensa elegir lo mismo para 2014, es posible que necesite aumentar la retención de impuestos federales sobre el ingreso o los pagos de impuesto estimado para evitar la multa. How to file a 1040x amendment Vea el capítulo 4 para más información. How to file a 1040x amendment Cómo Calcular los Ingresos del Hijo Utilice la Parte I del Formulario 8814 para calcular los ingresos de su hijo procedentes de intereses y dividendos declarados por usted. How to file a 1040x amendment A sus ingresos sólo se le añade la cantidad que sea superior a $2,000. How to file a 1040x amendment La cantidad superior a $2,000 se indica en la línea 6 del Formulario 8814. How to file a 1040x amendment A menos que los ingresos del hijo abarquen dividendos calificados o distribuciones de ganancias de capital (explicadas a continuación), la misma cantidad se indica en la línea 12 del Formulario 8814. How to file a 1040x amendment Incluya la cantidad de la línea 12 del Formulario 8814 en la línea 21 del Formulario 1040. How to file a 1040x amendment Anote en inglés “Form 8814” en la línea de puntos al lado de la línea 21. How to file a 1040x amendment Si presenta más de un Formulario 8814, incluya el total de los montos de la línea 12 de todos los Formularios 8814 en la línea 21 del Formulario 1040. How to file a 1040x amendment Distribuciones de ganancias de capital y dividendos calificados. How to file a 1040x amendment   Si se incluye alguna distribución de ganancias de capital en los ingresos de dividendos de su hijo, vea Capital gain distributions (Distribuciones de ganancias de capital) bajo Figuring Child's Income (Cómo calcular los ingresos del hijo) en la Parte 2 de la Publicación 929, en inglés. How to file a 1040x amendment Si se incluye algún dividendo calificado en los ingresos de dividendos de su hijo, vea Qualified dividends (Dividendos calificados) bajo Figuring Child's Income (Cómo calcular los ingresos del hijo) en la Parte 2 de la Publicación 929, en inglés. How to file a 1040x amendment Cómo Calcular el Impuesto Adicional Utilice la Parte II del Formulario 8814 para calcular el impuesto sobre los $2,000 de los intereses y dividendos de su hijo que no incluya usted en sus ingresos. How to file a 1040x amendment Este impuesto se suma al impuesto calculado sobre los ingresos suyos. How to file a 1040x amendment Dicho impuesto adicional es la cantidad que sea menor entre: El 10% (multiplicado por la cantidad de los ingresos brutos de su hijo menos $1,000) o $100. How to file a 1040x amendment Incluya el monto de la línea 15 de todos los Formularios 8814 en el total de la línea 44 del Formulario 1040. How to file a 1040x amendment Marque el recuadro a de la línea 44 del Formulario 1040. How to file a 1040x amendment Figura 31-B. How to file a 1040x amendment ¿Tiene que Utilizar el Formulario 8615 para Calcular los Impuestos de su Hijo? Please click here for the text description of the image. How to file a 1040x amendment Figura 31-B. How to file a 1040x amendment ¿Tiene que Utilizar el Formulario 8615 para Calcular los Impuestos de su Hijo? Impuesto para Determinados Hijos con Ingresos No Derivados del Trabajo Si el total de intereses, dividendos y otros ingresos no derivados del trabajo de un hijo sobrepasa $2,000, una parte de dichos ingresos podría estar sujeta a la misma tasa impositiva que la de sus padres en lugar de estar sujeta a la tasa del hijo. How to file a 1040x amendment Si el padre o la madre no elige, o no puede elegir, incluir los ingresos del hijo en su declaración, utilice el Formulario 8615 para calcular los impuestos del hijo. How to file a 1040x amendment Adjunte el formulario completado al Formulario 1040 o al Formulario 1040A del hijo. How to file a 1040x amendment Cuándo se tiene que presentar el Formulario 8615. How to file a 1040x amendment   El Formulario 8615 tiene que presentarse para un hijo si se dan todas las siguientes condiciones: Los ingresos del hijo no derivados del trabajo eran superiores a $2,000. How to file a 1040x amendment El hijo está obligado a presentar una declaración para 2013. How to file a 1040x amendment Dicho hijo: Era menor de 18 años de edad al final del año, Tenía 18 años a finales del año y su ingreso del trabajo no constituía más de la mitad de su manutención o Era estudiante a tiempo completo mayor de 18 años y menor de 24 años al finalizar el año y su ingreso del trabajo no constituía más de la mitad de la manutención suya. How to file a 1040x amendment Por lo menos uno de los padres del hijo estaba vivo al finalizar el año 2013. How to file a 1040x amendment El hijo no presenta una declaración conjunta para 2013. How to file a 1040x amendment Estas condiciones se hallan también en la Figura 31-B. How to file a 1040x amendment Ingreso del trabajo. How to file a 1040x amendment   El ingreso del trabajo incluye sueldos, salarios, propinas y otras remuneraciones recibidas por servicios personales que usted prestó. How to file a 1040x amendment No incluye los ingresos no derivados del trabajo según se define más adelante en este capítulo. How to file a 1040x amendment Manutención. How to file a 1040x amendment   La manutención de su hijo incluye todas las cantidades gastadas para proveerle alimentos, alojamiento, ropa, educación, cuidado médico y dental, recreación, transporte y necesidades similares. How to file a 1040x amendment Al calcular la manutención de su hijo, incluya aquélla proporcionada por usted, su hijo y otras personas. How to file a 1040x amendment Sin embargo, no se considera como manutención una beca que su hijo haya recibido si éste es estudiante a tiempo completo. How to file a 1040x amendment Vea el capítulo 3 para más detalles acerca de la manutención. How to file a 1040x amendment Determinados cumpleaños el 1 de enero. How to file a 1040x amendment   Utilice la siguiente tabla para saber si determinados hijos con cumpleaños en el 1 de enero cumplen la condición 3 bajo Cuándo se tiene que presentar el Formulario 8615. How to file a 1040x amendment    SI un hijo nació. How to file a 1040x amendment . How to file a 1040x amendment . How to file a 1040x amendment ENTONCES, al finalizar 2013, se considera que el hijo tiene. How to file a 1040x amendment . How to file a 1040x amendment . How to file a 1040x amendment el 1 de enero de 1996 18 años* el 1 de enero de 1995 19 años** el 1 de enero de 1990 24 años*** *Este hijo no es menor de 18 años. How to file a 1040x amendment El hijo cumple la condición 3 sólo si éste no tuvo ingresos derivados del trabajo superiores a más de la mitad de la manutención suya. How to file a 1040x amendment  **El hijo cumple la condición 3 sólo si éste era estudiante a tiempo completo y no tuvo ingresos derivados del trabajo superiores a más de la mitad de la manutención suya. How to file a 1040x amendment  ***No utilice el Formulario 8615 para este hijo. How to file a 1040x amendment Cómo Facilitar Información sobre los Padres (líneas A-C del Formulario 8615) En las líneas A y B del Formulario 8615, escriba el nombre y número de Seguro Social de los padres. How to file a 1040x amendment (Si los padres presentaron una declaración conjunta, escriba el nombre y número de Seguro Social que aparezca primero en la declaración conjunta). How to file a 1040x amendment En la línea C, marque el recuadro correspondiente al estado civil para efectos de la declaración del padre o de la madre. How to file a 1040x amendment Vea Cómo Saber si se Tiene que Utilizar la Declaración del Padre o de la Madre al principio de este capítulo para información sobre qué información de la declaración de los padres tiene que utilizar para llenar el Formulario 8615. How to file a 1040x amendment Padre o madre con año tributario distinto. How to file a 1040x amendment   Si el padre o la madre y el hijo no tienen el mismo año tributario, complete el Formulario 8615 utilizando la información de la declaración del padre o de la madre para el año tributario que finalice durante el año tributario del hijo. How to file a 1040x amendment Si no se obtiene a tiempo la información de la declaración del padre o de la madre. How to file a 1040x amendment   Si la información necesaria de la declaración de los padres no se obtiene para la fecha de vencimiento del plazo de entrega de la declaración del hijo (normalmente el 15 de abril), puede utilizar cálculos aproximados para presentar la declaración. How to file a 1040x amendment   Puede utilizar cualquier cálculo aproximado razonable. How to file a 1040x amendment Dicho cálculo puede derivarse de información de la declaración del año anterior. How to file a 1040x amendment Si utiliza un cálculo aproximado en el Formulario 8615, anote en inglés, “Estimated” (Aproximado) en la línea junto a dicha cantidad. How to file a 1040x amendment    Cuando obtenga la información correcta, presente una declaración enmendada utilizando el Formulario 1040X, Amended U. How to file a 1040x amendment S. How to file a 1040x amendment Individual Income Tax Return (Declaración enmendada de impuestos sobre el ingreso personal de los Estados Unidos), en inglés. How to file a 1040x amendment   En vez de utilizar cálculos aproximados, quizás pueda conseguir una prórroga automática de 6 meses para presentar la declaración de impuestos si para la fecha de vencimiento del plazo de entrega de la misma, presenta el Formulario 4868(SP), Solicitud de Prórroga Automática para Presentar la Declaración del Impuesto sobre el Ingreso Personal de los Estados Unidos (o el Formulario 4868, en inglés). How to file a 1040x amendment Las prórrogas se explican en el capítulo 1 . How to file a 1040x amendment Paso 1. How to file a 1040x amendment Cómo Calcular los Ingresos Netos No Derivados del Trabajo del Hijo (Parte I del Formulario 8615) Al calcular el impuesto de un hijo utilizando el Formulario 8615, el primer paso es calcular los ingresos netos no derivados del trabajo del hijo. How to file a 1040x amendment Para hacerlo, utilice la Parte I del Formulario 8615. How to file a 1040x amendment Línea 1 (ingresos no derivados del trabajo). How to file a 1040x amendment   Si el hijo no recibió ingresos del trabajo, anote en esta línea los ingresos brutos ajustados indicados en la declaración del hijo. How to file a 1040x amendment Los ingresos brutos ajustados aparecen en la línea 38 del Formulario 1040 o en la línea 22 del Formulario 1040A. How to file a 1040x amendment No se puede utilizar el Formulario 1040EZ si se tiene que presentar el Formulario 8615. How to file a 1040x amendment   Si el hijo sí recibió ingresos del trabajo, calcule la cantidad a anotar en la línea 1 del Formulario 8615 utilizando la hoja de trabajo de las instrucciones del formulario. How to file a 1040x amendment   No obstante, si el hijo: ha excluido de la declaración algunos ingresos ganados en el extranjero, ha deducido alguna pérdida del trabajo por cuenta propia o ha deducido alguna pérdida neta de operación de otro año, utilice la Alternate Worksheet (Hoja de trabajo alternativa) para la línea 1 del Formulario 8615 que se encuentra en la Publicación 929, en inglés, para calcular la cantidad a anotar en la línea 1 del Formulario 8615. How to file a 1040x amendment Definición de los ingresos no derivados del trabajo. How to file a 1040x amendment   Los ingresos no derivados del trabajo generalmente son todos los ingresos que no sean sueldos, salarios ni otras cantidades recibidas como pago por trabajo que de hecho se haya realizado. How to file a 1040x amendment Dichos ingresos abarcan los intereses tributables, dividendos (inclusive las distribuciones de ganancias de capital), ganancias de capital, compensación por desempleo, la parte sujeta a impuestos de pagos del Seguro Social y pensiones y determinadas distribuciones de fideicomisos. How to file a 1040x amendment Además, los ingresos no derivados del trabajo abarcan cantidades derivadas de bienes que el hijo haya adquirido con ingresos del trabajo (como intereses sobre una cuenta de ahorros en la que el hijo haya depositado sueldos). How to file a 1040x amendment Ingresos no sujetos a impuestos. How to file a 1040x amendment   Para este fin, los ingresos no derivados del trabajo sólo abarcan cantidades que su hijo tenga que incluir en el total de ingresos. How to file a 1040x amendment No se incluyen los ingresos no tributables no derivados del trabajo, tales como los intereses exentos de impuestos y la parte no tributable de pagos del Seguro Social y pensiones. How to file a 1040x amendment Ingresos procedentes de bienes recibidos como regalo. How to file a 1040x amendment   Los ingresos no derivados del trabajo de un hijo abarcan todo ingreso generado por bienes que pertenezcan al hijo. How to file a 1040x amendment Esto es así aun si se le traspasaron los bienes al hijo, independientemente de cuándo se traspasaron o se compraron dichos bienes ni quién los traspasó. How to file a 1040x amendment   Los ingresos no derivados del trabajo de un hijo incluyen ingresos generados por bienes dados al hijo como regalo. How to file a 1040x amendment Esto incluye regalos dados al hijo por los abuelos o cualquier otra persona y regalos dados conforme a la Uniform Gift to Minors Act (Ley de Uniformidad Respecto a Regalos a Menores). How to file a 1040x amendment Ejemplo. How to file a 1040x amendment Amanda Naranjo, de 13 años de edad, recibió los siguientes ingresos: Dividendos — $800 Salarios — $2,100 Intereses tributables — $1,200 Intereses exentos de impuestos — $100 Ganancias netas de capital — $100 Los dividendos eran dividendos calificados sobre acciones que le habían regalado sus abuelos. How to file a 1040x amendment Los ingresos no derivados del trabajo de Amanda son $2,100. How to file a 1040x amendment Éste es el total de dividendos ($800), intereses tributables ($1,200) y ganancias netas de capital ($100). How to file a 1040x amendment Su salario se considera ingreso del trabajo, y no de ingreso no derivado del trabajo porque se le paga por un trabajo que de hecho se ha realizado. How to file a 1040x amendment No se incluyen los intereses exentos de impuestos porque éstos no están sujetos a impuestos. How to file a 1040x amendment Ingresos provenientes de fideicomisos. How to file a 1040x amendment   Si el hijo es beneficiario de un fideicomiso, las distribuciones de intereses, dividendos, ganancias de capital y otros ingresos no derivados del trabajo tributables procedentes de dicho fideicomiso se consideran ingresos no derivados del trabajo del hijo. How to file a 1040x amendment   No obstante, para llenar el Formulario 8615, una distribución tributable de un fideicomiso calificado establecido para casos de incapacidad no se considera ingresos no derivados del trabajo sino ingresos del trabajo. How to file a 1040x amendment Línea 2 (deducciones). How to file a 1040x amendment   Si el hijo no detalla las deducciones en el Anexo A del Formulario 1040, anote $2,000 en la línea 2. How to file a 1040x amendment   Si el hijo sí detalla las deducciones, anote en la línea 2 la cantidad mayor entre: $1,000 más la parte de las deducciones detalladas del hijo de la línea 29 del Anexo A del Formulario 1040 que esté directamente relacionada con la generación de ingresos no derivados del trabajo anotados en la línea 1 o $2,000. How to file a 1040x amendment Relación directa entre las deducciones y la generación de ingresos no derivados del trabajo. How to file a 1040x amendment   Se considera que las deducciones detalladas están directamente relacionadas con la generación de ingresos no derivados del trabajo si las mismas corresponden a gastos pagados para generar o cobrar ingresos sujetos a impuestos o para administrar, conservar o mantener bienes cuyo fin es generar ingresos. How to file a 1040x amendment Esos gastos abarcan cargos por custodia y servicios, cargos por servicios de cobro de intereses y dividendos tributables y determinados cargos por asesoramiento sobre inversiones. How to file a 1040x amendment   Estos gastos se suman a otras deducciones detalladas misceláneas en el Anexo A (Formulario 1040). How to file a 1040x amendment Sólo se puede deducir la cantidad que sea superior al 2% de los ingresos brutos ajustados del hijo. How to file a 1040x amendment Vea el capítulo 28 para más información. How to file a 1040x amendment Ejemplo 1. How to file a 1040x amendment Roberto, de 12 años de edad, tiene ingresos no derivados del trabajo de $8,000, sin otros ingresos ni ajustes a los ingresos. How to file a 1040x amendment Tiene deducciones detalladas de $300 (netas del límite del 2%) que están directamente relacionadas con sus ingresos no derivados del trabajo. How to file a 1040x amendment Tiene ingresos brutos ajustados de $8,000 que se anotan en la línea 38 del Formulario 1040 y en la línea 1 del Formulario 8615. How to file a 1040x amendment En la línea 2 se anotan $2,000 porque dicha cantidad supera la suma de $1,000 más las deducciones detalladas de $300 directamente relacionadas con la generación de ingresos de inversiones. How to file a 1040x amendment Ejemplo 2. How to file a 1040x amendment Elena, de 8 años de edad, tiene ingresos no derivados del trabajo de $16,000 y tiene una multa de $100 por retiro prematuro. How to file a 1040x amendment No tiene otros ingresos. How to file a 1040x amendment Tiene deducciones detalladas de $1,050 (netas del límite del 2%) que están directamente relacionadas con la generación de sus ingresos no derivados del trabajo. How to file a 1040x amendment Sus ingresos brutos ajustados, anotados en la línea 1, son $15,900 ($16,000 − $100). How to file a 1040x amendment La cantidad de la línea 2 es $2,050. How to file a 1040x amendment Ésta es la cantidad mayor de: $1,000 más los $1,050 de deducciones detalladas directamente relacionadas con la generación de ingresos de inversiones o $2,000. How to file a 1040x amendment Línea 3. How to file a 1040x amendment   De la línea 1 reste la línea 2 y anote el resultado en esta línea. How to file a 1040x amendment Si es cero o menos, no llene el resto del formulario. How to file a 1040x amendment No obstante, tiene que adjuntar el Formulario 8615 a la declaración del hijo. How to file a 1040x amendment Calcule el impuesto sobre los ingresos tributables del hijo de manera normal. How to file a 1040x amendment Línea 4 (ingresos tributables del hijo). How to file a 1040x amendment   Anote en la línea 4 los ingresos tributables del hijo provenientes de la línea 43 del Formulario 1040 o de la línea 27 del Formulario 1040A. How to file a 1040x amendment   Sin embargo, si el hijo presenta el Formulario 2555 o el Formulario 2555-EZ para declarar la exclusión de ingresos ganados en el extranjero, la exclusión por concepto de vivienda o la deducción por concepto de vivienda, vea las Instrucciones del Formulario 8615 o la Publicación 929, ambas en inglés. How to file a 1040x amendment Línea 5 (ingresos netos no derivados del trabajo). How to file a 1040x amendment   Los ingresos netos no derivados del trabajo del hijo no pueden sobrepasar sus ingresos tributables. How to file a 1040x amendment Anote en la línea 5 del Formulario 8615 la cantidad de la línea 3 o la línea 4, la que sea menor. How to file a 1040x amendment Esta cantidad corresponde a los ingresos netos no derivados del trabajo del hijo. How to file a 1040x amendment   Si es cero o menos, no llene el resto del formulario. How to file a 1040x amendment No obstante, tiene que adjuntar el Formulario 8615 a la declaración del hijo. How to file a 1040x amendment Calcule el impuesto sobre los ingresos tributables del hijo de manera normal. How to file a 1040x amendment Paso 2. How to file a 1040x amendment Cómo Calcular el Impuesto Provisional a la Tasa Impositiva de los Padres (Parte II del Formulario 8615) El siguiente paso al llenar el Formulario 8615 es calcular un impuesto provisional sobre los ingresos netos no derivados del trabajo del hijo utilizando la tasa impositiva del padre o de la madre. How to file a 1040x amendment El impuesto provisional a la tasa impositiva del padre o de la madre es la diferencia entre el impuesto sobre los ingresos tributables del padre o de la madre calculados con los ingresos netos no derivados del trabajo del hijo (más los ingresos netos no derivados del trabajo de cualquier otro hijo cuyo Formulario 8615 incluya la información de la declaración de impuestos del padre o de la madre) y el impuesto calculado sin dichos ingresos. How to file a 1040x amendment Al calcular el impuesto provisional a la tasa impositiva del padre o de la madre en el Formulario 8615, no vuelva a calcular las exclusiones, deducciones ni créditos en la declaración del padre o de la madre debido a los ingresos netos no derivados del trabajo del hijo. How to file a 1040x amendment Por ejemplo, no vuelva a calcular la deducción por gastos médicos. How to file a 1040x amendment Calcule el impuesto provisional en las líneas 6 a 13 del Formulario 8615. How to file a 1040x amendment Nota: Si el hijo o el padre o la madre tiene pérdidas o ganancias de capital, obtenga la Publicación 929, en inglés, para información que le será de ayuda al completar la Parte II del Formulario 8615. How to file a 1040x amendment Línea 6 (ingresos tributables del padre o de la madre). How to file a 1040x amendment   Anote en la línea 6 los ingresos tributables del padre o de la madre provenientes de la línea 43 del Formulario 1040, de la línea 27 del Formulario 1040A o la línea 6 del Formulario 1040EZ. How to file a 1040x amendment   Si utilizó la Foreign Earned Income Tax Worksheet (Hoja de trabajo para el impuesto sobre los ingresos del trabajo en el extranjero) de las instrucciones del Formulario 1040 para calcular el impuesto correspondiente al padre o a la madre, anote la cantidad de la línea 3 de dicha hoja de trabajo en vez de los ingresos tributables del padre o de la madre. How to file a 1040x amendment Línea 7 (ingresos netos no derivados del trabajo de otros hijos). How to file a 1040x amendment   Si la información de la declaración del padre o de la madre se utiliza también en el Formulario 8615 de otro hijo, anote en la línea 7 el total de las cantidades de la línea 5 de los Formularios 8615 de todos los demás hijos. How to file a 1040x amendment No incluya la cantidad de la línea 5 del Formulario 8615 que esté llenando. How to file a 1040x amendment Ejemplo. How to file a 1040x amendment Pablo y Juana del Pozo tienen tres hijos, Sandra, Geraldo y Miguel, quienes tienen que adjuntar el Formulario 8615 a sus declaraciones de impuestos respectivas. How to file a 1040x amendment Los ingresos netos no derivados del trabajo de los hijos en la línea 5 de sus Formularios 8615 son: Sandra — $800 Geraldo — $600 Miguel — $1,000 La línea 7 del Formulario 8615 de Sandra indicará $1,600, o sea, el total de las cantidades anotadas en la línea 5 de los Formularios 8615 de Geraldo y Miguel. How to file a 1040x amendment La línea 7 del Formulario 8615 de Geraldo indicará $1,800 ($800 + $1,000). How to file a 1040x amendment La línea 7 del Formulario 8615 de Miguel indicará $1,400 ($800 + $600). How to file a 1040x amendment Si no está disponible la información de los otros hijos. How to file a 1040x amendment   Si no está disponible la cantidad de los ingresos netos no derivados del trabajo de los otros hijos antes de que venza el plazo para presentar la declaración, preséntela anotando cálculos aproximados o solicite una prórroga del plazo para presentarla. How to file a 1040x amendment Vea Si no se obtiene a tiempo la información de la declaración del padre o de la madre , anteriormente. How to file a 1040x amendment Línea 11 (impuesto provisional). How to file a 1040x amendment   Reste la línea 10 de la línea 9 y anote el resultado en esta línea. How to file a 1040x amendment Éste es el impuesto provisional. How to file a 1040x amendment   Si la línea 7 está en blanco, ignore las líneas 12a y 12b y anote en la línea 13 la cantidad proveniente de la línea 11. How to file a 1040x amendment Ignore asimismo el tema siguiente que trata de las líneas 12a y 12b. How to file a 1040x amendment Líneas 12a y 12b (dividiendo el impuesto provisional). How to file a 1040x amendment   Si anota alguna cantidad en la línea 7 (fuera de cero), divida el impuesto provisional indicado en la línea 11 entre los hijos según la participación de cada hijo en el total de los ingresos netos no derivados del trabajo. How to file a 1040x amendment Esto se hace en las líneas 12a, 12b y 13. How to file a 1040x amendment Sume la cantidad de la línea 7 a la de la línea 5 y anote el total en la línea 12a. How to file a 1040x amendment Divida la cantidad de la línea 5 entre la de la línea 12a y anote el resultado, como número decimal, en la línea 12b. How to file a 1040x amendment Ejemplo. How to file a 1040x amendment En el ejemplo anterior bajo Línea 7 (ingresos netos no derivados del trabajo de otros hijos), el Formulario 8615 de Sandra indica $1,600 en la línea 7. How to file a 1040x amendment La cantidad anotada en la línea 12a es $2,400, o sea, el total de las cantidades provenientes de las líneas 5 y 7 ($800 + $1,600). How to file a 1040x amendment El número decimal en la línea 12b es . How to file a 1040x amendment 333, calculado de la siguienta manera y redondeado hasta tres decimales:   $800 = . How to file a 1040x amendment 333     $2,400   Paso 3. How to file a 1040x amendment Cómo Calcular el Impuesto del Hijo (Parte III del Formulario 8615) El último paso para calcular el impuesto de su hijo utilizando el Formulario 8615 es determinar la cantidad mayor entre: El total de: La parte del impuesto provisional correspondiente al hijo basado en la tasa impositiva del padre o de la madre, más El impuesto sobre los ingresos tributables del hijo que sean superiores a los ingresos netos no derivados del trabajo, calculado a la tasa impositiva del hijo o El impuesto sobre los ingresos tributables del hijo calculado a la tasa impositiva del hijo. How to file a 1040x amendment Éste es el impuesto del hijo. How to file a 1040x amendment Se calcula en las líneas 14 a 18 del Formulario 8615. How to file a 1040x amendment Impuesto mínimo alternativo. How to file a 1040x amendment   Un hijo puede estar sujeto al impuesto mínimo alternativo (AMT, por sus siglas en inglés) si cuenta con determinados elementos que reciben un trato preferente conforme a la ley tributaria. How to file a 1040x amendment Vea el tema titulado Impuesto Mínimo Alternativo (AMT) , en el capítulo 30. How to file a 1040x amendment    Para información adicional acerca de quién tiene que pagar el AMT y cómo calcularlo, vea el Formulario 6251, Alternative Minimum Tax—Individuals (Impuesto mínimo alternativo—individuos), en inglés. How to file a 1040x amendment Para información sobre límites especiales aplicables a un hijo que presente el Formulario 6251, vea Certain Children Under Age 24 (Determinados hijos menores de 24 años de edad), en las Instrucciones para el Formulario 6251, en inglés. How to file a 1040x amendment Prev  Up  Next   Home   More Online Publications