Filing Your Taxes Online is Fast, Easy and Secure.
Start now and receive your tax refund in as little as 7 days.

1. Get Answers

Your online questions are customized to your unique tax situation.

2. Maximize your Refund

Find tax credits for everything from school tuition to buying a hybri

3. E-File for FREE

E-file free with direct deposit to get your refund in as few as 7 days.

Filing your taxes with paper mail can be difficult and it could take weeks for your refund to arrive. IRS e-file is easy, fast and secure. There is no paperwork going to the IRS so tax refunds can be processed in as little as 7 days with direct deposit. As you prepare your taxes online, you can see your tax refund in real time.

FREE audit support and representation from an enrolled agent – NEW and only from H&R Block

Irs Tax Forms For 2010

Complete Tax Free FileForm 1040x Fillable2011 1040 Ez Tax FormsMy Free Tax.com1040 EzIrs Form 1040ez FillableFree Tax 2007Tax Forms 1040 EzTaxact Amend 2010 Return1040ez Printable Tax FormsFree 1040xEz Form OnlineOnlinetaxes Hrblock ComTaxes 20121040 Ez TaxesWhere To File My State Taxes For FreeFree Irs Tax FilingEfile Taxes2009 Amended Tax Return1040 X FormHow To File Amended Tax Return 2012Need To File 2010 Taxes OnlineFile My State Taxes FreeFree Filing State Income TaxHow Do I File My 2012 Taxes NowHow Do I File My 2010 Taxes For FreeFree State Taxes Online FilingHow Do You Amend Tax ReturnsE File My State Taxes For Free2011 1040 FormFederal Tax Amendment FormFile Tax Amendment OnlineEfile ExtensionFree Federal And State Tax FilingAmended Tax Return For 20122012 1040ez FormFree File TaxesHow To File Free State TaxesFile 2010 Tax Return OnlineHow To Complete A 1040x

Irs Tax Forms For 2010

Irs tax forms for 2010 4. Irs tax forms for 2010   Limit on Elective Deferrals Table of Contents Excess elective deferrals. Irs tax forms for 2010 General Limit 15-Year RuleYears of Service Figuring the Limit on Elective DeferralsExample The second and final component of MAC is the limit on elective deferrals. Irs tax forms for 2010 This is a limit on the amount of contributions that can be made to your account through a salary reduction agreement. Irs tax forms for 2010 A salary reduction agreement is an agreement between you and your employer that allows for a portion of your compensation to be directly invested in a 403(b) account on your behalf. Irs tax forms for 2010 You can enter into more than one salary reduction agreement during a year. Irs tax forms for 2010 More than one 403(b) account. Irs tax forms for 2010 If, for any year, elective deferrals are contributed to more than one 403(b) account for you (whether or not with the same employer), you must combine all the elective deferrals to determine whether the total is more than the limit for that year. Irs tax forms for 2010 403(b) plan and another retirement plan. Irs tax forms for 2010 If, during the year, contributions in the form of elective deferrals are made to other retirement plans on your behalf, you must combine all of the elective deferrals to determine if they are more than your limit on elective deferrals. Irs tax forms for 2010 The limit on elective deferrals applies to amounts contributed to: 401(k) plans, to the extent excluded from income, Roth contribution programs, Section 501(c)(18) plans, to the extent excluded from income, Savings incentive match plan for employees (SIMPLE plans), Simplified employee pension (SEP) plans, and All 403(b) plans. Irs tax forms for 2010 Roth contribution program. Irs tax forms for 2010   Your 403(b) plan may allow you to designate all or a portion of your elective deferrals as Roth contributions. Irs tax forms for 2010 Elective deferrals designated as Roth contributions must be maintained in a separate Roth account and are not excludable from your gross income. Irs tax forms for 2010   The maximum amount of contributions allowed under a Roth contribution program is your limit on elective deferrals, less your elective deferrals not designated as Roth contributions. Irs tax forms for 2010 For more information on the Roth contribution program, see Publication 560, Retirement Plans for Small Business. Irs tax forms for 2010 Excess elective deferrals. Irs tax forms for 2010   If the amount contributed is more than the allowable limit, you must include the excess that is not a Roth contribution in your gross income for the year contributed. Irs tax forms for 2010 General Limit Under the general limit on elective deferrals, the most that can be contributed to your 403(b) account through a salary reduction agreement is $17,500 for 2013 and 2014. Irs tax forms for 2010 This limit applies without regard to community property laws. Irs tax forms for 2010 15-Year Rule If you have at least 15 years of service with an educational organization (such as a public or private school), hospital, home health service agency, health and welfare service agency, church, or convention or association of churches (or associated organization), the limit on elective deferrals to your 403(b) account is increased by the least of: $3,000, $15,000, reduced by the sum of: The additional pre-tax elective deferrals made in prior years because of this rule, plus The aggregate amount of designated Roth contributions permitted for prior years because of this rule, or $5,000 times the number of your years of service for the organization, minus the total elective deferrals made by your employer on your behalf for earlier years. Irs tax forms for 2010 If you qualify for the 15-year rule, your elective deferrals under this limit can be as high as $20,500 for 2013 and 2014. Irs tax forms for 2010 To determine whether you have 15 years of service with your employer, see Years of Service , next. Irs tax forms for 2010 Years of Service To determine if you are eligible for the increased limit on elective deferrals, you will first need to figure your years of service. Irs tax forms for 2010 How you figure your years of service depends on whether you were a full-time or a part-time employee, whether you worked for the full year or only part of the year, and whether you have worked for your employer for an entire year. Irs tax forms for 2010 You must figure years of service for each year during which you worked for the employer who is maintaining your 403(b) account. Irs tax forms for 2010 If more than one employer maintains a 403(b) account for you in the same year, you must figure years of service separately for each employer. Irs tax forms for 2010 Definition Your years of service are the total number of years you have worked as a full time employee for the employer maintaining your 403(b) account as of the end of the year. Irs tax forms for 2010 Figuring Your Years of Service Take the following rules into account when figuring your years of service. Irs tax forms for 2010 Status of employer. Irs tax forms for 2010   Your years of service include only periods during which your employer was a qualified employer. Irs tax forms for 2010 Your plan administrator can tell you whether or not your employer was qualified during all your periods of service. Irs tax forms for 2010 Service with one employer. Irs tax forms for 2010   Generally, you cannot count service for any employer other than the one who maintains your 403(b) account. Irs tax forms for 2010 Church employee. Irs tax forms for 2010   If you are a church employee, treat all of your years of service with related church organizations as years of service with the same employer. Irs tax forms for 2010 For more information about church employees, see chapter 5. Irs tax forms for 2010 Self-employed ministers. Irs tax forms for 2010   If you are a self-employed minister, your years of service include full and part years in which you have been treated as employed by a tax-exempt organization that is a qualified employer. Irs tax forms for 2010 Total years of service. Irs tax forms for 2010   When figuring prior years of service, figure each year individually and then add the individual years of service to determine your total years of service. Irs tax forms for 2010 Example. Irs tax forms for 2010 The annual work period for full-time teachers employed by ABC Public Schools is September through December and February through May. Irs tax forms for 2010 Marsha began working with ABC schools in September 2009. Irs tax forms for 2010 She has always worked full-time for each annual work period. Irs tax forms for 2010 At the end of 2013, Marsha had 4. Irs tax forms for 2010 5 years of service with ABC Public Schools, as shown in Table 4-1. Irs tax forms for 2010 Table 4-1. Irs tax forms for 2010 Marsha's Years of Service Note. Irs tax forms for 2010 This table shows how Marsha figures her years of service, as explained in the previous example. Irs tax forms for 2010 Year Period Worked Portion of Work Period Years of Service 2009 Sept. Irs tax forms for 2010 –Dec. Irs tax forms for 2010 . Irs tax forms for 2010 5 year . Irs tax forms for 2010 5 year 2010 Feb. Irs tax forms for 2010 –May . Irs tax forms for 2010 5 year 1 year Sept. Irs tax forms for 2010 –Dec. Irs tax forms for 2010 . Irs tax forms for 2010 5 year 2011 Feb. Irs tax forms for 2010 –May . Irs tax forms for 2010 5 year 1 year Sept. Irs tax forms for 2010 –Dec. Irs tax forms for 2010 . Irs tax forms for 2010 5 year 2012 Feb. Irs tax forms for 2010 –May . Irs tax forms for 2010 5 year 1 year Sept. Irs tax forms for 2010 –Dec. Irs tax forms for 2010 . Irs tax forms for 2010 5 year 2013 Feb. Irs tax forms for 2010 –May . Irs tax forms for 2010 5 year 1 year Sept. Irs tax forms for 2010 –Dec. Irs tax forms for 2010 . Irs tax forms for 2010 5 year Total years of service 4. Irs tax forms for 2010 5 years Full-time or part-time. Irs tax forms for 2010   To figure your years of service, you must analyze each year individually and determine whether you worked full-time for the full year or something other than full-time. Irs tax forms for 2010 When determining whether you worked full-time or something other than full-time, use your employer's annual work period as the standard. Irs tax forms for 2010 Employer's annual work period. Irs tax forms for 2010   Your employer's annual work period is the usual amount of time an individual working full-time in a specific position is required to work. Irs tax forms for 2010 Generally, this period of time is expressed in days, weeks, months, or semesters, and can span 2 calendar years. Irs tax forms for 2010 Note. Irs tax forms for 2010 You cannot accumulate more than 1 year of service in a 12-month period. Irs tax forms for 2010 Example. Irs tax forms for 2010 All full-time teachers at ABC Public Schools are required to work both the September through December semester and the February through May semester. Irs tax forms for 2010 Therefore, the annual work period for full-time teachers employed by ABC Public Schools is September through December and February through May. Irs tax forms for 2010 Teachers at ABC Public Schools who work both semesters in the same calendar year are considered working a full year of service in that calendar year. Irs tax forms for 2010 Full-Time Employee for the Full Year Count each full year during which you were employed full-time as 1 year of service. Irs tax forms for 2010 In determining whether you were employed full-time, compare the amount of work you were required to perform with the amount of work normally required of others who held the same position with the same employer and who generally received most of their pay from the position. Irs tax forms for 2010 How to compare. Irs tax forms for 2010   You can use any method that reasonably and accurately reflects the amount of work required. Irs tax forms for 2010 For example, if you are a teacher, you can use the number of hours of classroom instruction as a measure of the amount of work required. Irs tax forms for 2010   In determining whether positions with the same employer are the same, consider all of the facts and circumstances concerning the positions, including the work performed, the methods by which pay is determined, and the descriptions (or titles) of the positions. Irs tax forms for 2010 Example. Irs tax forms for 2010 An assistant professor employed in the English department of a university will be considered a full-time employee if the amount of work that he or she is required to perform is the same as the amount of work normally required of assistant professors of English at that university who get most of their pay from that position. Irs tax forms for 2010   If no one else works for your employer in the same position, compare your work with the work normally required of others who held the same position with similar employers or similar positions with your employer. Irs tax forms for 2010 Full year of service. Irs tax forms for 2010   A full year of service for a particular position means the usual annual work period of anyone employed full-time in that general type of work at that place of employment. Irs tax forms for 2010 Example. Irs tax forms for 2010 If a doctor works for a hospital 12 months of a year except for a 1-month vacation, the doctor will be considered as employed for a full year if the other doctors at that hospital also work 11 months of the year with a 1-month vacation. Irs tax forms for 2010 Similarly, if the usual annual work period at a university consists of the fall and spring semesters, an instructor at that university who teaches these semesters will be considered as working a full year. Irs tax forms for 2010 Other Than Full-Time for the Full Year If, during any year, you were employed full-time for only part of your employer's annual work period, part-time for the entire annual work period, or part-time for only part of the work period, your year of service for that year is a fraction of your employer's annual work period. Irs tax forms for 2010 Full-time for part of the year. Irs tax forms for 2010   If, during a year, you were employed full-time for only part of your employer's annual work period, figure the fraction for that year as follows: The numerator (top number) is the number of weeks, months, or semesters you were a full-time employee. Irs tax forms for 2010 The denominator (bottom number) is the number of weeks, months, or semesters considered the normal annual work period for the position. Irs tax forms for 2010 Example. Irs tax forms for 2010 Jason was employed as a full-time instructor by a local college for the 4 months of the 2013 spring semester (February 2013 through May 2013). Irs tax forms for 2010 The annual work period for the college is 8 months (February through May and July through October). Irs tax forms for 2010 Given these facts, Jason was employed full-time for part of the annual work period and provided ½ of a year of service. Irs tax forms for 2010 Jason's years of service computation for 2013 is as follows: Number of months Jason worked = 4 = 1 Number of months in annual work period 8 2 Part-time for the full year. Irs tax forms for 2010   If, during a year, you were employed part-time for the employer's entire annual work period, you figure the fraction for that year as follows: The numerator (top number) is the number of hours or days you worked. Irs tax forms for 2010 The denominator (bottom number) is the number of hours or days normally required of someone holding the same position who works full-time. Irs tax forms for 2010 Example. Irs tax forms for 2010 Vance teaches one course at a local medical school. Irs tax forms for 2010 He teaches 3 hours per week for two semesters. Irs tax forms for 2010 Other faculty members at the same school teach 9 hours per week for two semesters. Irs tax forms for 2010 The annual work period of the medical school is two semesters. Irs tax forms for 2010 An instructor teaching 9 hours a week for two semesters is considered a full-time employee. Irs tax forms for 2010 Given these facts, Vance has worked part-time for a full annual work period. Irs tax forms for 2010 Vance has completed 1/3 of a year of service, figured as shown below. Irs tax forms for 2010 Number of hours per week Vance worked = 3 = 1 Number of hours per week considered full-time 9 3 Part-time for part of the year. Irs tax forms for 2010   If, during any year, you were employed part-time for only part of your employer's annual work period, you figure your fraction for that year by multiplying two fractions. Irs tax forms for 2010   Figure the first fraction as though you had worked full-time for part of the annual work period. Irs tax forms for 2010 The fraction is as follows: The numerator (top number) is the number of weeks, months, or semesters you were a full-time employee. Irs tax forms for 2010 The denominator (bottom number) is the number of weeks, months, or semesters considered the normal annual work period for the position. Irs tax forms for 2010   Figure the second fraction as though you had worked part-time for the entire annual work period. Irs tax forms for 2010 The fraction is as follows: The numerator (top number) is the number of hours or days you worked. Irs tax forms for 2010 The denominator (bottom number) is the number of hours or days normally required of someone holding the same position who works full-time. Irs tax forms for 2010   Once you have figured these two fractions, multiply them together to determine the fraction representing your partial year of service for the year. Irs tax forms for 2010 Example. Irs tax forms for 2010 Maria, an attorney, teaches a course for one semester at a law school. Irs tax forms for 2010 She teaches 3 hours per week. Irs tax forms for 2010 The annual work period for teachers at the school is two semesters. Irs tax forms for 2010 All full-time instructors at the school are required to teach 12 hours per week. Irs tax forms for 2010 Based on these facts, Maria is employed part-time for part of the annual work period. Irs tax forms for 2010 Her year of service for this year is determined by multiplying two fractions. Irs tax forms for 2010 Her computation is as follows: Maria's first fraction Number of semesters Maria worked = 1 Number of semesters in annual work period 2 Maria's second fraction Number of hours Maria worked per week = 3 = 1 Number of hours per week considered full-time 12 4 Maria would multiply these fractions to obtain the fractional year of service: 1 x 1 = 1         2 4 8         Figuring the Limit on Elective Deferrals You can use Part II of Worksheet 1 in chapter 9 to figure the limit on elective deferrals. Irs tax forms for 2010 Example Floyd has figured his limit on annual additions. Irs tax forms for 2010 The only other component needed before he can determine his MAC for 2014 is his limit on elective deferrals. Irs tax forms for 2010 Figuring Floyd's limit on elective deferrals. Irs tax forms for 2010   Floyd has been employed with his current employer for less than 15 years. Irs tax forms for 2010 He is not eligible for the special 15-year increase. Irs tax forms for 2010 Therefore, his limit on elective deferrals for 2014 is $17,500 as shown in Table 4-2. Irs tax forms for 2010 Floyd's employer will not make any nonelective contributions to his 403(b) account and Floyd will not make any after-tax contributions. Irs tax forms for 2010 Additionally, Floyd's employer does not offer a Roth contribution program. Irs tax forms for 2010 Figuring Floyd's MAC Floyd has determined that his limit on annual additions for 2014 is $52,000 and his limit on elective deferrals is $17,500. Irs tax forms for 2010 Because elective deferrals are the only contributions made to Floyd's account, the maximum amount that can be contributed to a 403(b) account on Floyd's behalf in 2014 is $17,500, the lesser of both limits. Irs tax forms for 2010 Table 4-2. Irs tax forms for 2010 Worksheet 1. Irs tax forms for 2010 Maximum Amount Contributable (MAC) Note. Irs tax forms for 2010 Use this worksheet to figure your MAC. Irs tax forms for 2010 Part I. Irs tax forms for 2010 Limit on Annual Additions     1. Irs tax forms for 2010 Enter your includible compensation for your most recent year of service 1. Irs tax forms for 2010 $70,475 2. Irs tax forms for 2010 Maximum: For 2013 enter $51,000 For 2014 enter $52,000 2. Irs tax forms for 2010 52,000 3. Irs tax forms for 2010 Enter the lesser of line 1 or line 2. Irs tax forms for 2010 This is your limit on annual additions 3. Irs tax forms for 2010 52,000   Caution: If you had only nonelective contributions, skip Part II and enter the amount from line 3 on line 18. Irs tax forms for 2010     Part II. Irs tax forms for 2010 Limit on Elective Deferrals     4. Irs tax forms for 2010 Maximum contribution: For 2013, enter $17,500 For 2014, enter $17,500 4. Irs tax forms for 2010 17,500   Note. Irs tax forms for 2010 If you have at least 15 years of service with a qualifying organization, complete lines 5 through 17. Irs tax forms for 2010 If not, enter zero (-0-) on line 16 and go to line 17. Irs tax forms for 2010     5. Irs tax forms for 2010 Amount per year of service 5. Irs tax forms for 2010 5,000 6. Irs tax forms for 2010 Enter your years of service 6. Irs tax forms for 2010   7. Irs tax forms for 2010 Multiply line 5 by line 6 7. Irs tax forms for 2010   8. Irs tax forms for 2010 Enter the total of all elective deferrals made for you by the qualifying organization for prior years 8. Irs tax forms for 2010   9. Irs tax forms for 2010 Subtract line 8 from line 7. Irs tax forms for 2010 If zero or less, enter zero (-0-) 9. Irs tax forms for 2010   10. Irs tax forms for 2010 Maximum increase in limit for long service 10. Irs tax forms for 2010 15,000 11. Irs tax forms for 2010 Enter the total of additional pre-tax elective deferrals made in prior years under the 15-year rule 11. Irs tax forms for 2010   12. Irs tax forms for 2010 Enter the aggregate amount of all designated Roth contributions permitted for prior years under the 15-year rule 12. Irs tax forms for 2010   13. Irs tax forms for 2010 Add lines 11 and 12 13. Irs tax forms for 2010   14. Irs tax forms for 2010 Subtract line 13 from line 10 14. Irs tax forms for 2010   15. Irs tax forms for 2010 Maximum additional contributions 15. Irs tax forms for 2010 3,000 16. Irs tax forms for 2010 Enter the least of lines 9, 14, or 15. Irs tax forms for 2010 This is your increase in the limit for long service 16. Irs tax forms for 2010 -0- 17. Irs tax forms for 2010 Add lines 4 and 16. Irs tax forms for 2010 This is your limit on elective deferrals 17. Irs tax forms for 2010 17,500   Part III. Irs tax forms for 2010 Maximum Amount Contributable     18. Irs tax forms for 2010 If you had only nonelective contributions, enter the amount from line 3. Irs tax forms for 2010 This is your MAC. Irs tax forms for 2010    If you had only elective deferrals, enter the lesser of lines 3 or 17. Irs tax forms for 2010 This is your MAC. Irs tax forms for 2010    If you had both elective deferrals and nonelective contributions, enter the amount from line 3. Irs tax forms for 2010 This is your MAC. Irs tax forms for 2010 (Use the amount on line 17 to determine if you have excess elective deferrals as explained in chapter 7. Irs tax forms for 2010 ) 18. Irs tax forms for 2010 $17,500 Prev  Up  Next   Home   More Online Publications
Español

Federal Energy Regulatory Commission

The Federal Energy Regulatory Commission regulates interstate transmission of electricity, natural gas, and oil, and also regulates hydropower projects and natural gas terminals.

Contact the Agency or Department

Website: Federal Energy Regulatory Commission

E-mail:

Address: 888 First Street, NE
Washington, DC 20426

Phone Number: (202) 502-6088

Toll-free: (866) 208-3372

TTY: (202) 502-8659

The Irs Tax Forms For 2010

Irs tax forms for 2010 4. Irs tax forms for 2010   Reporting Gains and Losses Table of Contents Introduction Topics - This chapter discusses: Useful Items - You may want to see: Information Returns Schedule D and Form 8949Long and Short Term Net Gain or Loss Treatment of Capital Losses Capital Gains Tax Rates Form 4797Mark-to-market election. Irs tax forms for 2010 Introduction This chapter explains how to report capital gains and losses and ordinary gains and losses from sales, exchanges, and other dispositions of property. Irs tax forms for 2010 Although this discussion refers to Schedule D (Form 1040) and Form 8949, many of the rules discussed here also apply to taxpayers other than individuals. Irs tax forms for 2010 However, the rules for property held for personal use usually will not apply to taxpayers other than individuals. Irs tax forms for 2010 Topics - This chapter discusses: Information returns Schedule D (Form 1040) Form 4797 Form 8949 Useful Items - You may want to see: Publication 550 Investment Income and Expenses 537 Installment Sales Form (and Instructions) Schedule D (Form 1040) Capital Gains and Losses 1099-B Proceeds From Broker and Barter Exchange Transactions 1099-S Proceeds From Real Estate Transactions 4684 Casualties and Thefts 4797 Sales of Business Property 6252 Installment Sale Income 6781 Gains and Losses from Section 1256 Contracts and Straddles 8824 Like-Kind Exchanges 8949 Sales and Other Dispositions of Capital Assets See chapter 5 for information about getting publications and forms. Irs tax forms for 2010 Information Returns If you sell or exchange certain assets, you should receive an information return showing the proceeds of the sale. Irs tax forms for 2010 This information is also provided to the IRS. Irs tax forms for 2010 Form 1099-B. Irs tax forms for 2010   If you sold property, such as stocks, bonds, or certain commodities, through a broker, you should receive Form 1099-B, Proceeds From Broker and Barter Exchange Transactions, or a substitute statement from the broker. Irs tax forms for 2010 Use the Form 1099-B or a substitute statement to complete Form 8949 and/or Schedule D. Irs tax forms for 2010 Whether or not you receive 1099-B, you must report all taxable sales of stock, bonds, commodities, etc. Irs tax forms for 2010 on Form 8949 and/or Schedule D, as applicable. Irs tax forms for 2010 For more information on figuring gains and losses from these transactions, see chapter 4 in Publication 550. Irs tax forms for 2010 For information on reporting the gains and losses, see the Instructions for Form 8949 and the Instructions for Schedule D (Form 1040). Irs tax forms for 2010 Form 1099-S. Irs tax forms for 2010   An information return must be provided on certain real estate transactions. Irs tax forms for 2010 Generally, the person responsible for closing the transaction (the “real estate reporting person”) must report on Form 1099-S sales or exchanges of the following types of property. Irs tax forms for 2010 Land (improved or unimproved), including air space. Irs tax forms for 2010 An inherently permanent structure, including any residential, commercial, or industrial building. Irs tax forms for 2010 A condominium unit and its related fixtures and common elements (including land). Irs tax forms for 2010 Stock in a cooperative housing corporation. Irs tax forms for 2010 If you sold or exchanged any of the above types of property, the “real estate reporting person” must give you a copy of Form 1099-S or a statement containing the same information as the Form 1099-S. Irs tax forms for 2010 The “real estate reporting person” could include the buyer's attorney, your attorney, the title or escrow company, a mortgage lender, your broker, the buyer's broker, or the person acquiring the biggest interest in the property. Irs tax forms for 2010   For more information see chapter 4 in Publication 550. Irs tax forms for 2010 Also, see the Instructions for Form 8949. Irs tax forms for 2010 Schedule D and Form 8949 Form 8949. Irs tax forms for 2010   Individuals, corporations, and partnerships, use Form 8949 to report the following. Irs tax forms for 2010    Sales or exchanges of capital assets, including stocks, bonds, etc. Irs tax forms for 2010 , and real estate (if not reported on another form or schedule such as Form 4684, 4797, 6252, 6781, or 8824). Irs tax forms for 2010 Include these transactions even if you did not receive a Form 1099-B or 1099-S. Irs tax forms for 2010 Gains from involuntary conversions (other than from casualty or theft) of capital assets not held for business or profit. Irs tax forms for 2010 Nonbusiness bad debts. Irs tax forms for 2010   Individuals, If you are filing a joint return, complete as many copies of Form 8949 as you need to report all of your and your spouse's transactions. Irs tax forms for 2010 You and your spouse may list your transactions on separate forms or you may combine them. Irs tax forms for 2010 However, you must include on your Schedule D the totals from all Forms 8949 for both you and your spouse. Irs tax forms for 2010    Corporations and electing large partnerships also use Form 8949 to report their share of gain or loss from a partnership, S Corporation, estate or trust. Irs tax forms for 2010   Business entities meeting certain criteria, may have an exception to some of the normal requirements for completing Form 8949. Irs tax forms for 2010 See the Instructions for Form 8949. Irs tax forms for 2010 Schedule D. Irs tax forms for 2010    Use Schedule D (Form 1040) to figure the overall gain or loss from transactions reported on Form 8949, and to report certain transactions you do not have to report on Form 8949. Irs tax forms for 2010 Before completing Schedule D, you may have to complete other forms as shown below. Irs tax forms for 2010    Complete all applicable lines of Form 8949 before completing lines 1b, 2, 3, 8b, 9, or 10 of your applicable Schedule D. Irs tax forms for 2010 Enter on Schedule D the combined totals from all your Forms 8949. Irs tax forms for 2010 For a sale, exchange, or involuntary conversion of business property, complete Form 4797 (discussed later). Irs tax forms for 2010 For a like-kind exchange, complete Form 8824. Irs tax forms for 2010 See Reporting the exchange under Like-Kind Exchanges in chapter 1. Irs tax forms for 2010 For an installment sale, complete Form 6252. Irs tax forms for 2010 See Publication 537. Irs tax forms for 2010 For an involuntary conversion due to casualty or theft, complete Form 4684. Irs tax forms for 2010 See Publication 547, Casualties, Disasters, and Thefts. Irs tax forms for 2010 For a disposition of an interest in, or property used in, an activity to which the at-risk rules apply, complete Form 6198, At-Risk Limitations. Irs tax forms for 2010 See Publication 925, Passive Activity and At-Risk Rules. Irs tax forms for 2010 For a disposition of an interest in, or property used in, a passive activity, complete Form 8582, Passive Activity Loss Limitations. Irs tax forms for 2010 See Publication 925. Irs tax forms for 2010 For gains and losses from section 1256 contracts and straddles, complete Form 6781. Irs tax forms for 2010 See Publication 550. Irs tax forms for 2010 Personal-use property. Irs tax forms for 2010   Report gain on the sale or exchange of property held for personal use (such as your home) on Form 8949 and Schedule D (Form 1040), as applicable. Irs tax forms for 2010 Loss from the sale or exchange of property held for personal use is not deductible. Irs tax forms for 2010 But if you had a loss from the sale or exchange of real estate held for personal use for which you received a Form 1099-S, report the transaction on Form 8949 and Schedule D, even though the loss is not deductible. Irs tax forms for 2010 See the Instructions for Schedule D (Form 1040) and the Instructions for Form 8949 for information on how to report the transaction. Irs tax forms for 2010 Long and Short Term Where you report a capital gain or loss depends on how long you own the asset before you sell or exchange it. Irs tax forms for 2010 The time you own an asset before disposing of it is the holding period. Irs tax forms for 2010 If you received a Form 1099-B, (or substitute statement) box 1c may help you determine whether the gain or loss is short-term or long-term. Irs tax forms for 2010 If you hold a capital asset 1 year or less, the gain or loss from its disposition is short term. Irs tax forms for 2010 Report it in Part I of Form 8949 and/or Schedule D, as applicable. Irs tax forms for 2010 If you hold a capital asset longer than 1 year, the gain or loss from its disposition is long term. Irs tax forms for 2010 Report it in Part II of Form 8949 and/or Schedule D, as applicable. Irs tax forms for 2010   Table 4-1. Irs tax forms for 2010 Do I Have a Short-Term or Long-Term Gain or Loss? IF you hold the property. Irs tax forms for 2010 . Irs tax forms for 2010 . Irs tax forms for 2010  THEN you have a. Irs tax forms for 2010 . Irs tax forms for 2010 . Irs tax forms for 2010 1 year or less, Short-term capital gain or  loss. Irs tax forms for 2010 More than 1 year, Long-term capital gain or  loss. Irs tax forms for 2010 These distinctions are essential to correctly arrive at your net capital gain or loss. Irs tax forms for 2010 Capital losses are allowed in full against capital gains plus up to $3,000 of ordinary income. Irs tax forms for 2010 See Capital Gains Tax Rates, later. Irs tax forms for 2010 Holding period. Irs tax forms for 2010   To figure if you held property longer than 1 year, start counting on the day following the day you acquired the property. Irs tax forms for 2010 The day you disposed of the property is part of your holding period. Irs tax forms for 2010 Example. Irs tax forms for 2010 If you bought an asset on June 19, 2012, you should start counting on June 20, 2012. Irs tax forms for 2010 If you sold the asset on June 19, 2013, your holding period is not longer than 1 year, but if you sold it on June 20, 2013, your holding period is longer than 1 year. Irs tax forms for 2010 Patent property. Irs tax forms for 2010   If you dispose of patent property, you generally are considered to have held the property longer than 1 year, no matter how long you actually held it. Irs tax forms for 2010 For more information, see Patents in chapter 2. Irs tax forms for 2010 Inherited property. Irs tax forms for 2010   If you inherit property, you are considered to have held the property longer than 1 year, regardless of how long you actually held it. Irs tax forms for 2010 Installment sale. Irs tax forms for 2010   The gain from an installment sale of an asset qualifying for long-term capital gain treatment in the year of sale continues to be long term in later tax years. Irs tax forms for 2010 If it is short term in the year of sale, it continues to be short term when payments are received in later tax years. Irs tax forms for 2010    The date the installment payment is received determines the capital gains rate that should be applied not the date the asset was sold under an installment contract. Irs tax forms for 2010 Nontaxable exchange. Irs tax forms for 2010   If you acquire an asset in exchange for another asset and your basis for the new asset is figured, in whole or in part, by using your basis in the old property, the holding period of the new property includes the holding period of the old property. Irs tax forms for 2010 That is, it begins on the same day as your holding period for the old property. Irs tax forms for 2010 Example. Irs tax forms for 2010 You bought machinery on December 4, 2012. Irs tax forms for 2010 On June 4, 2013, you traded this machinery for other machinery in a nontaxable exchange. Irs tax forms for 2010 On December 5, 2013, you sold the machinery you got in the exchange. Irs tax forms for 2010 Your holding period for this machinery began on December 5, 2012. Irs tax forms for 2010 Therefore, you held it longer than 1 year. Irs tax forms for 2010 Corporate liquidation. Irs tax forms for 2010   The holding period for property you receive in a liquidation generally starts on the day after you receive it if gain or loss is recognized. Irs tax forms for 2010 Profit-sharing plan. Irs tax forms for 2010   The holding period of common stock withdrawn from a qualified contributory profit-sharing plan begins on the day following the day the plan trustee delivered the stock to the transfer agent with instructions to reissue the stock in your name. Irs tax forms for 2010 Gift. Irs tax forms for 2010   If you receive a gift of property and your basis in it is figured using the donor's basis, your holding period includes the donor's holding period. Irs tax forms for 2010 For more information on basis, see Publication 551, Basis of Assets. Irs tax forms for 2010 Real property. Irs tax forms for 2010   To figure how long you held real property, start counting on the day after you received title to it or, if earlier, the day after you took possession of it and assumed the burdens and privileges of ownership. Irs tax forms for 2010   However, taking possession of real property under an option agreement is not enough to start the holding period. Irs tax forms for 2010 The holding period cannot start until there is an actual contract of sale. Irs tax forms for 2010 The holding period of the seller cannot end before that time. Irs tax forms for 2010 Repossession. Irs tax forms for 2010   If you sell real property but keep a security interest in it and then later repossess it, your holding period for a later sale includes the period you held the property before the original sale, as well as the period after the repossession. Irs tax forms for 2010 Your holding period does not include the time between the original sale and the repossession. Irs tax forms for 2010 That is, it does not include the period during which the first buyer held the property. Irs tax forms for 2010 Nonbusiness bad debts. Irs tax forms for 2010   Nonbusiness bad debts are short-term capital losses. Irs tax forms for 2010 For information on nonbusiness bad debts, see chapter 4 of Publication 550. Irs tax forms for 2010    Net Gain or Loss The totals for short-term capital gains and losses and the totals for long-term capital gains and losses must be figured separately. Irs tax forms for 2010 Net short-term capital gain or loss. Irs tax forms for 2010   Combine your short-term capital gains and losses, including your share of short-term capital gains or losses from partnerships, S corporations, and fiduciaries and any short-term capital loss carryover. Irs tax forms for 2010 Do this by adding all your short-term capital gains. Irs tax forms for 2010 Then add all your short-term capital losses. Irs tax forms for 2010 Subtract the lesser total from the other. Irs tax forms for 2010 The result is your net short-term capital gain or loss. Irs tax forms for 2010 Net long-term capital gain or loss. Irs tax forms for 2010   Follow the same steps to combine your long-term capital gains and losses. Irs tax forms for 2010 Include the following items. Irs tax forms for 2010 Net section 1231 gain from Part I, Form 4797, after any adjustment for nonrecaptured section 1231 losses from prior tax years. Irs tax forms for 2010 Capital gain distributions from regulated investment companies (mutual funds) and real estate investment trusts. Irs tax forms for 2010 Your share of long-term capital gains or losses from partnerships, S corporations, and fiduciaries. Irs tax forms for 2010 Any long-term capital loss carryover. Irs tax forms for 2010 The result from combining these items with other long-term capital gains and losses is your net long-term capital gain or loss. Irs tax forms for 2010 Net gain. Irs tax forms for 2010   If the total of your capital gains is more than the total of your capital losses, the difference is taxable. Irs tax forms for 2010 Different tax rates may apply to the part that is a net capital gain. Irs tax forms for 2010 See Capital Gains Tax Rates, later. Irs tax forms for 2010 Net loss. Irs tax forms for 2010   If the total of your capital losses is more than the total of your capital gains, the difference is deductible. Irs tax forms for 2010 But there are limits on how much loss you can deduct and when you can deduct it. Irs tax forms for 2010 See Treatment of Capital Losses, next. Irs tax forms for 2010    Treatment of Capital Losses If your capital losses are more than your capital gains, you can deduct the difference as a capital loss deduction even if you do not have ordinary income to offset it. Irs tax forms for 2010 The yearly limit on the amount of the capital loss you can deduct is $3,000 ($1,500 if you are married and file a separate return). Irs tax forms for 2010 Table 4-2. Irs tax forms for 2010 Holding Period for Different Types of Acquisitions Type of acquisition: When your holding period starts: Stocks and bonds bought on a securities market Day after trading date you bought security. Irs tax forms for 2010 Ends on trading date you sold security. Irs tax forms for 2010 U. Irs tax forms for 2010 S. Irs tax forms for 2010 Treasury notes and bonds If bought at auction, day after notification of bid acceptance. Irs tax forms for 2010 If bought through subscription, day after subscription was submitted. Irs tax forms for 2010 Nontaxable exchanges Day after date you acquired old property. Irs tax forms for 2010 Gift If your basis is giver's adjusted basis, same day as giver's holding period began. Irs tax forms for 2010 If your basis is FMV, day after date of gift. Irs tax forms for 2010 Real property bought Generally, day after date you received title to the property. Irs tax forms for 2010 Real property repossessed Day after date you originally received title to the property, but does not include time between the original sale and date of repossession. Irs tax forms for 2010 Capital loss carryover. Irs tax forms for 2010   Generally, you have a capital loss carryover if either of the following situations applies to you. Irs tax forms for 2010 Your net loss is more than the yearly limit. Irs tax forms for 2010 Your taxable income without your deduction for exemptions is less than zero. Irs tax forms for 2010 If either of these situations applies to you for 2013, see Capital Losses under Reporting Capital Gains and Losses in chapter 4 of Publication 550 to figure the amount you can carryover to 2014. Irs tax forms for 2010 Example. Irs tax forms for 2010 Bob and Gloria Sampson sold property in 2013. Irs tax forms for 2010 The sale resulted in a capital loss of $7,000. Irs tax forms for 2010 The Sampsons had no other capital transactions. Irs tax forms for 2010 On their joint 2013 return, the Sampsons deduct $3,000, the yearly limit. Irs tax forms for 2010 They had taxable income of $2,000. Irs tax forms for 2010 The unused part of the loss, $4,000 ($7,000 − $3,000), is carried over to 2014. Irs tax forms for 2010 If the Sampsons' capital loss had been $2,000, it would not have been more than the yearly limit. Irs tax forms for 2010 Their capital loss deduction would have been $2,000. Irs tax forms for 2010 They would have no carryover to 2014. Irs tax forms for 2010 Short-term and long-term losses. Irs tax forms for 2010   When you carry over a loss, it retains its original character as either long term or short term. Irs tax forms for 2010 A short-term loss you carry over to the next tax year is added to short-term losses occurring in that year. Irs tax forms for 2010 A long-term loss you carry over to the next tax year is added to long-term losses occurring in that year. Irs tax forms for 2010 A long-term capital loss you carry over to the next year reduces that year's long-term gains before its short-term gains. Irs tax forms for 2010   If you have both short-term and long-term losses, your short-term losses are used first against your allowable capital loss deduction. Irs tax forms for 2010 If, after using your short-term losses, you have not reached the limit on the capital loss deduction, use your long-term losses until you reach the limit. Irs tax forms for 2010 To figure your capital loss carryover from 2013 to 2014 use the Capital Loss Carryover Worksheet in the 2013 Instructions for Schedule D (Form 1040). Irs tax forms for 2010 Joint and separate returns. Irs tax forms for 2010   On a joint return, the capital gains and losses of spouses are figured as the gains and losses of an individual. Irs tax forms for 2010 If you are married and filing a separate return, your yearly capital loss deduction is limited to $1,500. Irs tax forms for 2010 Neither you nor your spouse can deduct any part of the other's loss. Irs tax forms for 2010   If you and your spouse once filed separate returns and are now filing a joint return, combine your separate capital loss carryovers. Irs tax forms for 2010 However, if you and your spouse once filed jointly and are now filing separately, any capital loss carryover from the joint return can be deducted only on the return of the spouse who actually had the loss. Irs tax forms for 2010 Death of taxpayer. Irs tax forms for 2010   Capital losses cannot be carried over after a taxpayer's death. Irs tax forms for 2010 They are deductible only on the final income tax return filed on the decedent's behalf. Irs tax forms for 2010 The yearly limit discussed earlier still applies in this situation. Irs tax forms for 2010 Even if the loss is greater than the limit, the decedent's estate cannot deduct the difference or carry it over to following years. Irs tax forms for 2010 Corporations. Irs tax forms for 2010   A corporation can deduct capital losses only up to the amount of its capital gains. Irs tax forms for 2010 In other words, if a corporation has a net capital loss, it cannot be deducted in the current tax year. Irs tax forms for 2010 It must be carried to other tax years and deducted from capital gains occurring in those years. Irs tax forms for 2010 For more information, see Publication 542. Irs tax forms for 2010 Capital Gains Tax Rates The tax rates that apply to a net capital gain are generally lower than the tax rates that apply to other income. Irs tax forms for 2010 These lower rates are called the maximum capital gains rates. Irs tax forms for 2010 The term “net capital gain” means the amount by which your net long-term capital gain for the year is more than your net short-term capital loss. Irs tax forms for 2010 For 2013, the maximum tax rates for individuals are 0%, 15%, 20%, 25%, and 28%. Irs tax forms for 2010 Also, individuals, use the Qualified Dividends and Capital Gain Worksheet in the Instructions for Form 1040, or the Schedule D Tax Computation Worksheet in the Instructions for Schedule D (Form 1040) (whichever applies) to figure your tax if you have qualified dividends or net capital gain. Irs tax forms for 2010 For more information, see chapter 4 of Publication 550. Irs tax forms for 2010 Also see the Instructions for Schedule D (Form 1040). Irs tax forms for 2010 Unrecaptured section 1250 gain. Irs tax forms for 2010   Generally, this is the part of any long-term capital gain on section 1250 property (real property) that is due to depreciation. Irs tax forms for 2010 Unrecaptured section 1250 gain cannot be more than the net section 1231 gain or include any gain otherwise treated as ordinary income. Irs tax forms for 2010 Use the worksheet in the Schedule D instructions to figure your unrecaptured section 1250 gain. Irs tax forms for 2010 For more information about section 1250 property and net section 1231 gain, see chapter 3. Irs tax forms for 2010 Form 4797 Use Form 4797 to report: The sale or exchange of: Property used in your trade or business; Depreciable and amortizable property; Oil, gas, geothermal, or other mineral properties; and Section 126 property. Irs tax forms for 2010 The involuntary conversion (from other than casualty or theft) of property used in your trade or business and capital assets held in connection with a trade or business or a transaction entered into for profit. Irs tax forms for 2010 The disposition of noncapital assets (other than inventory or property held primarily for sale to customers in the ordinary course of your trade or business). Irs tax forms for 2010 The disposition of capital assets not reported on Schedule D. Irs tax forms for 2010 The gain or loss (including any related recapture) for partners and S corporation shareholders from certain section 179 property dispositions by partnerships (other than electing large partnerships) and S corporations. Irs tax forms for 2010 The computation of recapture amounts under sections 179 and 280F(b)(2) when the business use of section 179 or listed property decreases to 50% or less. Irs tax forms for 2010 Gains or losses treated as ordinary gains or losses, if you are a trader in securities or commodities and made a mark-to-market election under Internal Revenue Code section 475(f). Irs tax forms for 2010 You can use Form 4797 with Form 1040, 1065, 1120, or 1120S. Irs tax forms for 2010 Section 1231 gains and losses. Irs tax forms for 2010   Show any section 1231 gains and losses in Part I. Irs tax forms for 2010 Carry a net gain to Schedule D (Form 1040) as a long-term capital gain. Irs tax forms for 2010 Carry a net loss to Part II of Form 4797 as an ordinary loss. Irs tax forms for 2010   If you had any nonrecaptured net section 1231 losses from the preceding 5 tax years, reduce your net gain by those losses and report the amount of the reduction as an ordinary gain in Part II. Irs tax forms for 2010 Report any remaining gain on Schedule D (Form 1040). Irs tax forms for 2010 See Section 1231 Gains and Losses in chapter 3. Irs tax forms for 2010 Ordinary gains and losses. Irs tax forms for 2010   Show any ordinary gains and losses in Part II. Irs tax forms for 2010 This includes a net loss or a recapture of losses from prior years figured in Part I of Form 4797. Irs tax forms for 2010 It also includes ordinary gain figured in Part III. Irs tax forms for 2010 Mark-to-market election. Irs tax forms for 2010   If you made a mark-to-market election, you should report all gains and losses from trading as ordinary gains and losses in Part II of Form 4797, instead of as capital gains and losses on Form 8949 and Schedule D (Form 1040). Irs tax forms for 2010 See the Instructions for Form 4797. Irs tax forms for 2010 Also see Special Rules for Traders in Securities, in chapter 4 of Publication 550. Irs tax forms for 2010 Ordinary income from depreciation. Irs tax forms for 2010   Figure the ordinary income from depreciation on personal property and additional depreciation on real property (as discussed in chapter 3) in Part III. Irs tax forms for 2010 Carry the ordinary income to Part II of Form 4797 as an ordinary gain. Irs tax forms for 2010 Carry any remaining gain to Part I as section 1231 gain, unless it is from a casualty or theft. Irs tax forms for 2010 Carry any remaining gain from a casualty or theft to Form 4684. Irs tax forms for 2010 Prev  Up  Next   Home   More Online Publications