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Military State Income Tax

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Military State Income Tax

Military state income tax 10. Military state income tax   Retirement Plans, Pensions, and Annuities Table of Contents What's New Reminder IntroductionThe General Rule. Military state income tax Individual retirement arrangements (IRAs). Military state income tax Civil service retirement benefits. Military state income tax Useful Items - You may want to see: General InformationIn-plan rollovers to designated Roth accounts. Military state income tax How To Report Cost (Investment in the Contract) Taxation of Periodic PaymentsExclusion limited to cost. Military state income tax Exclusion not limited to cost. Military state income tax Simplified Method Taxation of Nonperiodic PaymentsLump-Sum Distributions RolloversIn-plan rollovers to designated Roth accounts. Military state income tax Special Additional TaxesTax on Early Distributions Tax on Excess Accumulation Survivors and Beneficiaries What's New For purposes of the Net Investment Income Tax (NIIT), net investment income does not include distributions from a qualified retirement plan (for example, 401(a), 403(a), 403(b), 408, 408A, or 457(b) plans). Military state income tax However, these distributions are taken into account when determining the modified adjusted gross income threshold. Military state income tax Distributions from a nonqualified retirement plan are included in net investment income. Military state income tax See Form 8960, Net Investment Income Tax - Individuals, Estates, and Trusts, and its instructions for more information. Military state income tax Reminder Starting in 2013, the American Taxpayer Relief Act of 2012 expanded the rules for in-plan Roth rollovers to include more taxpayers. Military state income tax For more information, see Designated Roth accounts discussed later. Military state income tax Introduction This chapter discusses the tax treatment of distributions you receive from: An employee pension or annuity from a qualified plan, A disability retirement, and A purchased commercial annuity. Military state income tax What is not covered in this chapter. Military state income tax   The following topics are not discussed in this chapter. Military state income tax The General Rule. Military state income tax   This is the method generally used to determine the tax treatment of pension and annuity income from nonqualified plans (including commercial annuities). Military state income tax For a qualified plan, you generally cannot use the General Rule unless your annuity starting date is before November 19, 1996. Military state income tax For more information about the General Rule, see Publication 939, General Rule for Pensions and Annuities. Military state income tax Individual retirement arrangements (IRAs). Military state income tax   Information on the tax treatment of amounts you receive from an IRA is in chapter 17. Military state income tax Civil service retirement benefits. Military state income tax    If you are retired from the federal government (regular, phased, or disability retirement), see Publication 721, Tax Guide to U. Military state income tax S. Military state income tax Civil Service Retirement Benefits. Military state income tax Publication 721 also covers the information that you need if you are the survivor or beneficiary of a federal employee or retiree who died. Military state income tax Useful Items - You may want to see: Publication 575 Pension and Annuity Income 721 Tax Guide to U. Military state income tax S. Military state income tax Civil Service Retirement Benefits 939 General Rule for Pensions and Annuities Form (and Instructions) W-4P Withholding Certificate for Pension or Annuity Payments 1099-R Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. Military state income tax 4972 Tax on Lump-Sum Distributions 5329 Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts General Information Designated Roth accounts. Military state income tax   A designated Roth account is a separate account created under a qualified Roth contribution program to which participants may elect to have part or all of their elective deferrals to a 401(k), 403(b), or 457(b) plan designated as Roth contributions. Military state income tax Elective deferrals that are designated as Roth contributions are included in your income. Military state income tax However, qualified distributions are not included in your income. Military state income tax See Publication 575 for more information. Military state income tax In-plan rollovers to designated Roth accounts. Military state income tax   If you are a participant in a 401(k), 403(b), or 457(b) plan, your plan may permit you to roll over amounts in those plans to a designated Roth account within the same plan. Military state income tax The rollover of any untaxed amounts must be included in income. Military state income tax See Publication 575 for more information. Military state income tax More than one program. Military state income tax   If you receive benefits from more than one program under a single trust or plan of your employer, such as a pension plan and a profit-sharing plan, you may have to figure the taxable part of each pension or annuity contract separately. Military state income tax Your former employer or the plan administrator should be able to tell you if you have more than one pension or annuity contract. Military state income tax Section 457 deferred compensation plans. Military state income tax    If you work for a state or local government or for a tax-exempt organization, you may be able to participate in a section 457 deferred compensation plan. Military state income tax If your plan is an eligible plan, you are not taxed currently on pay that is deferred under the plan or on any earnings from the plan's investment of the deferred pay. Military state income tax You are generally taxed on amounts deferred in an eligible state or local government plan only when they are distributed from the plan. Military state income tax You are taxed on amounts deferred in an eligible tax-exempt organization plan when they are distributed or otherwise made available to you. Military state income tax   Your 457(b) plan may have a designated Roth account option. Military state income tax If so, you may be able to roll over amounts to the designated Roth account or make contributions. Military state income tax Elective deferrals to a designated Roth account are included in your income. Military state income tax Qualified distributions from a designated Roth account are not subject to tax. Military state income tax   This chapter covers the tax treatment of benefits under eligible section 457 plans, but it does not cover the treatment of deferrals. Military state income tax For information on deferrals under section 457 plans, see Retirement Plan Contributions under Employee Compensation in Publication 525, Taxable and Nontaxable Income. Military state income tax   For general information on these deferred compensation plans, see Section 457 Deferred Compensation Plans in Publication 575. Military state income tax Disability pensions. Military state income tax   If you retired on disability, you generally must include in income any disability pension you receive under a plan that is paid for by your employer. Military state income tax You must report your taxable disability payments as wages on line 7 of Form 1040 or Form 1040A until you reach minimum retirement age. Military state income tax Minimum retirement age generally is the age at which you can first receive a pension or annuity if you are not disabled. Military state income tax    You may be entitled to a tax credit if you were permanently and totally disabled when you retired. Military state income tax For information on the credit for the elderly or the disabled, see chapter 33. Military state income tax   Beginning on the day after you reach minimum retirement age, payments you receive are taxable as a pension or annuity. Military state income tax Report the payments on Form 1040, lines 16a and 16b, or on Form 1040A, lines 12a and 12b. Military state income tax    Disability payments for injuries incurred as a direct result of a terrorist attack directed against the United States (or its allies) are not included in income. Military state income tax For more information about payments to survivors of terrorist attacks, see Publication 3920, Tax Relief for Victims of Terrorist Attacks. Military state income tax   For more information on how to report disability pensions, including military and certain government disability pensions, see chapter 5. Military state income tax Retired public safety officers. Military state income tax   An eligible retired public safety officer can elect to exclude from income distributions of up to $3,000 made directly from a government retirement plan to the provider of accident, health, or long-term disability insurance. Military state income tax See Insurance Premiums for Retired Public Safety Officers in Publication 575 for more information. Military state income tax Railroad retirement benefits. Military state income tax   Part of any railroad retirement benefits you receive is treated for tax purposes as social security benefits, and part is treated as an employee pension. Military state income tax For information about railroad retirement benefits treated as social security benefits, see Publication 915, Social Security and Equivalent Railroad Retirement Benefits. Military state income tax For information about railroad retirement benefits treated as an employee pension, see Railroad Retirement Benefits in Publication 575. Military state income tax Withholding and estimated tax. Military state income tax   The payer of your pension, profit-sharing, stock bonus, annuity, or deferred compensation plan will withhold income tax on the taxable parts of amounts paid to you. Military state income tax You can tell the payer how much to withhold, or not to withhold, by filing Form W-4P. Military state income tax If you choose not to have tax withheld, or you do not have enough tax withheld, you may have to pay estimated tax. Military state income tax   If you receive an eligible rollover distribution, you cannot choose not to have tax withheld. Military state income tax Generally, 20% will be withheld, but no tax will be withheld on a direct rollover of an eligible rollover distribution. Military state income tax See Direct rollover option under Rollovers, later. Military state income tax   For more information, see Pensions and Annuities under Tax Withholding for 2014 in chapter 4. Military state income tax Qualified plans for self-employed individuals. Military state income tax   Qualified plans set up by self-employed individuals are sometimes called Keogh or H. Military state income tax R. Military state income tax 10 plans. Military state income tax Qualified plans can be set up by sole proprietors, partnerships (but not a partner), and corporations. Military state income tax They can cover self-employed persons, such as the sole proprietor or partners, as well as regular (common-law) employees. Military state income tax    Distributions from a qualified plan are usually fully taxable because most recipients have no cost basis. Military state income tax If you have an investment (cost) in the plan, however, your pension or annuity payments from a qualified plan are taxed under the Simplified Method. Military state income tax For more information about qualified plans, see Publication 560, Retirement Plans for Small Business. Military state income tax Purchased annuities. Military state income tax   If you receive pension or annuity payments from a privately purchased annuity contract from a commercial organization, such as an insurance company, you generally must use the General Rule to figure the tax-free part of each annuity payment. Military state income tax For more information about the General Rule, get Publication 939. Military state income tax Also, see Variable Annuities in Publication 575 for the special provisions that apply to these annuity contracts. Military state income tax Loans. Military state income tax   If you borrow money from your retirement plan, you must treat the loan as a nonperiodic distribution from the plan unless certain exceptions apply. Military state income tax This treatment also applies to any loan under a contract purchased under your retirement plan, and to the value of any part of your interest in the plan or contract that you pledge or assign. Military state income tax This means that you must include in income all or part of the amount borrowed. Military state income tax Even if you do not have to treat the loan as a nonperiodic distribution, you may not be able to deduct the interest on the loan in some situations. Military state income tax For details, see Loans Treated as Distributions in Publication 575. Military state income tax For information on the deductibility of interest, see chapter 23. Military state income tax Tax-free exchange. Military state income tax   No gain or loss is recognized on an exchange of an annuity contract for another annuity contract if the insured or annuitant remains the same. Military state income tax However, if an annuity contract is exchanged for a life insurance or endowment contract, any gain due to interest accumulated on the contract is ordinary income. Military state income tax See Transfers of Annuity Contracts in Publication 575 for more information about exchanges of annuity contracts. Military state income tax How To Report If you file Form 1040, report your total annuity on line 16a and the taxable part on line 16b. Military state income tax If your pension or annuity is fully taxable, enter it on line 16b; do not make an entry on line 16a. Military state income tax If you file Form 1040A, report your total annuity on line 12a and the taxable part on line 12b. Military state income tax If your pension or annuity is fully taxable, enter it on line 12b; do not make an entry on line 12a. Military state income tax More than one annuity. Military state income tax   If you receive more than one annuity and at least one of them is not fully taxable, enter the total amount received from all annuities on Form 1040, line 16a, or Form 1040A, line 12a, and enter the taxable part on Form 1040, line 16b, or Form 1040A, line 12b. Military state income tax If all the annuities you receive are fully taxable, enter the total of all of them on Form 1040, line 16b, or Form 1040A, line 12b. Military state income tax Joint return. Military state income tax   If you file a joint return and you and your spouse each receive one or more pensions or annuities, report the total of the pensions and annuities on Form 1040, line 16a, or Form 1040A, line 12a, and report the taxable part on Form 1040, line 16b, or Form 1040A, line 12b. Military state income tax Cost (Investment in the Contract) Before you can figure how much, if any, of a distribution from your pension or annuity plan is taxable, you must determine your cost (your investment in the contract) in the pension or annuity. Military state income tax Your total cost in the plan includes the total premiums, contributions, or other amounts you paid. Military state income tax This includes the amounts your employer contributed that were taxable to you when paid. Military state income tax Cost does not include any amounts you deducted or were excluded from your income. Military state income tax From this total cost, subtract any refunds of premiums, rebates, dividends, unrepaid loans that were not included in your income, or other tax-free amounts that you received by the later of the annuity starting date or the date on which you received your first payment. Military state income tax Your annuity starting date is the later of the first day of the first period for which you received a payment or the date the plan's obligations became fixed. Military state income tax Designated Roth accounts. Military state income tax   Your cost in these accounts is your designated Roth contributions that were included in your income as wages subject to applicable withholding requirements. Military state income tax Your cost will also include any in-plan Roth rollovers you included in income. Military state income tax Foreign employment contributions. Military state income tax   If you worked in a foreign country and contributions were made to your retirement plan, special rules apply in determining your cost. Military state income tax See Foreign employment contributions under Cost (Investment in the Contract) in Publication 575. Military state income tax Taxation of Periodic Payments Fully taxable payments. Military state income tax   Generally, if you did not pay any part of the cost of your employee pension or annuity and your employer did not withhold part of the cost from your pay while you worked, the amounts you receive each year are fully taxable. Military state income tax You must report them on your income tax return. Military state income tax Partly taxable payments. Military state income tax   If you paid part of the cost of your pension or annuity, you are not taxed on the part of the pension or annuity you receive that represents a return of your cost. Military state income tax The rest of the amount you receive is generally taxable. Military state income tax You figure the tax-free part of the payment using either the Simplified Method or the General Rule. Military state income tax Your annuity starting date and whether or not your plan is qualified determine which method you must or may use. Military state income tax   If your annuity starting date is after November 18, 1996, and your payments are from a qualified plan, you must use the Simplified Method. Military state income tax Generally, you must use the General Rule if your annuity is paid under a nonqualified plan, and you cannot use this method if your annuity is paid under a qualified plan. Military state income tax   If you had more than one partly taxable pension or annuity, figure the tax-free part and the taxable part of each separately. Military state income tax   If your annuity is paid under a qualified plan and your annuity starting date is after July 1, 1986, and before November 19, 1996, you could have chosen to use either the General Rule or the Simplified Method. Military state income tax Exclusion limit. Military state income tax   Your annuity starting date determines the total amount of annuity payments that you can exclude from your taxable income over the years. Military state income tax Once your annuity starting date is determined, it does not change. Military state income tax If you calculate the taxable portion of your annuity payments using the simplified method worksheet, the annuity starting date determines the recovery period for your cost. Military state income tax That recovery period begins on your annuity starting date and is not affected by the date you first complete the worksheet. Military state income tax Exclusion limited to cost. Military state income tax   If your annuity starting date is after 1986, the total amount of annuity income that you can exclude over the years as a recovery of the cost cannot exceed your total cost. Military state income tax Any unrecovered cost at your (or the last annuitant's) death is allowed as a miscellaneous itemized deduction on the final return of the decedent. Military state income tax This deduction is not subject to the 2%-of-adjusted-gross-income limit. Military state income tax Exclusion not limited to cost. Military state income tax   If your annuity starting date is before 1987, you can continue to take your monthly exclusion for as long as you receive your annuity. Military state income tax If you chose a joint and survivor annuity, your survivor can continue to take the survivor's exclusion figured as of the annuity starting date. Military state income tax The total exclusion may be more than your cost. Military state income tax Simplified Method Under the Simplified Method, you figure the tax-free part of each annuity payment by dividing your cost by the total number of anticipated monthly payments. Military state income tax For an annuity that is payable for the lives of the annuitants, this number is based on the annuitants' ages on the annuity starting date and is determined from a table. Military state income tax For any other annuity, this number is the number of monthly annuity payments under the contract. Military state income tax Who must use the Simplified Method. Military state income tax   You must use the Simplified Method if your annuity starting date is after November 18, 1996, and you both: Receive pension or annuity payments from a qualified employee plan, qualified employee annuity, or a tax-sheltered annuity (403(b)) plan, and On your annuity starting date, you were either under age 75, or entitled to less than 5 years of guaranteed payments. Military state income tax Guaranteed payments. Military state income tax   Your annuity contract provides guaranteed payments if a minimum number of payments or a minimum amount (for example, the amount of your investment) is payable even if you and any survivor annuitant do not live to receive the minimum. Military state income tax If the minimum amount is less than the total amount of the payments you are to receive, barring death, during the first 5 years after payments begin (figured by ignoring any payment increases), you are entitled to less than 5 years of guaranteed payments. Military state income tax How to use the Simplified Method. Military state income tax    Complete the Simplified Method Worksheet in Publication 575 to figure your taxable annuity for 2013. Military state income tax Single-life annuity. Military state income tax    If your annuity is payable for your life alone, use Table 1 at the bottom of the worksheet to determine the total number of expected monthly payments. Military state income tax Enter on line 3 the number shown for your age at the annuity starting date. Military state income tax Multiple-lives annuity. Military state income tax   If your annuity is payable for the lives of more than one annuitant, use Table 2 at the bottom of the worksheet to determine the total number of expected monthly payments. Military state income tax Enter on line 3 the number shown for the combined ages of you and the youngest survivor annuitant at the annuity starting date. Military state income tax   However, if your annuity starting date is before 1998, do not use Table 2 and do not combine the annuitants' ages. Military state income tax Instead you must use Table 1 and enter on line 3 the number shown for the primary annuitant's age on the annuity starting date. Military state income tax    Be sure to keep a copy of the completed worksheet; it will help you figure your taxable annuity next year. Military state income tax Example. Military state income tax Bill Smith, age 65, began receiving retirement benefits in 2013, under a joint and survivor annuity. Military state income tax Bill's annuity starting date is January 1, 2013. Military state income tax The benefits are to be paid for the joint lives of Bill and his wife Kathy, age 65. Military state income tax Bill had contributed $31,000 to a qualified plan and had received no distributions before the annuity starting date. Military state income tax Bill is to receive a retirement benefit of $1,200 a month, and Kathy is to receive a monthly survivor benefit of $600 upon Bill's death. Military state income tax Bill must use the Simplified Method to figure his taxable annuity because his payments are from a qualified plan and he is under age 75. Military state income tax Because his annuity is payable over the lives of more than one annuitant, he uses his and Kathy's combined ages and Table 2 at the bottom of the worksheet in completing line 3 of the worksheet. Military state income tax His completed worksheet is shown in Worksheet 10-A. Military state income tax Bill's tax-free monthly amount is $100 ($31,000 ÷ 310) as shown on line 4 of the worksheet. Military state income tax Upon Bill's death, if Bill has not recovered the full $31,000 investment, Kathy will also exclude $100 from her $600 monthly payment. Military state income tax The full amount of any annuity payments received after 310 payments are paid must be included in gross income. Military state income tax If Bill and Kathy die before 310 payments are made, a miscellaneous itemized deduction will be allowed for the unrecovered cost on the final income tax return of the last to die. Military state income tax This deduction is not subject to the 2%-of-adjusted- gross-income limit. Military state income tax Worksheet 10-A. Military state income tax Simplified Method Worksheet for Bill Smith 1. Military state income tax Enter the total pension or annuity payments received this year. Military state income tax Also, add this amount to the total for Form 1040, line 16a, or Form 1040A, line 12a 1. Military state income tax 14,400 2. Military state income tax Enter your cost in the plan (contract) at the annuity starting date plus any death benefit exclusion*. Military state income tax See Cost (Investment in the Contract) , earlier 2. Military state income tax 31,000       Note: If your annuity starting date was before this year and you completed this worksheet last year, skip line 3 and enter the amount from line 4 of last year's worksheet on line 4 below (even if the amount of your pension or annuity has changed). Military state income tax Otherwise, go to line 3. Military state income tax         3. Military state income tax Enter the appropriate number from Table 1 below. Military state income tax But if your annuity starting date was after 1997 and the payments are for your life and that of your beneficiary, enter the appropriate number from Table 2 below 3. Military state income tax 310     4. Military state income tax Divide line 2 by the number on line 3 4. Military state income tax 100     5. Military state income tax Multiply line 4 by the number of months for which this year's payments were made. Military state income tax If your annuity starting date was before 1987, enter this amount on line 8 below and skip lines 6, 7, 10, and 11. Military state income tax Otherwise, go to line 6 5. Military state income tax 1,200     6. Military state income tax Enter any amounts previously recovered tax free in years after 1986. Military state income tax This is the amount shown on line 10 of your worksheet for last year 6. Military state income tax -0-     7. Military state income tax Subtract line 6 from line 2 7. Military state income tax 31,000     8. Military state income tax Enter the smaller of line 5 or line 7 8. Military state income tax 1,200 9. Military state income tax Taxable amount for year. Military state income tax Subtract line 8 from line 1. Military state income tax Enter the result, but not less than zero. Military state income tax Also, add this amount to the total for Form 1040, line 16b, or Form 1040A, line 12b 9. Military state income tax 13,200   Note: If your Form 1099-R shows a larger taxable amount, use the amount figured on this line instead. Military state income tax If you are a retired public safety officer, see Insurance Premiums for Retired Public Safety Officers in Publication 575 before entering an amount on your tax return. Military state income tax     10. Military state income tax Was your annuity starting date before 1987? □ Yes. Military state income tax STOP. Military state income tax Do not complete the rest of this worksheet. Military state income tax  ☑ No. Military state income tax Add lines 6 and 8. Military state income tax This is the amount you have recovered tax free through 2013. Military state income tax You will need this number if you need to fill out this worksheet next year 10. Military state income tax 1,200 11. Military state income tax Balance of cost to be recovered. Military state income tax Subtract line 10 from line 2. Military state income tax If zero, you will not have to complete this worksheet next year. Military state income tax The payments you receive next year will generally be fully taxable 11. Military state income tax 29,800 TABLE 1 FOR LINE 3 ABOVE   AND your annuity starting date was— IF the age at annuity starting date was. Military state income tax . Military state income tax . Military state income tax before November 19, 1996, enter on line 3. Military state income tax . Military state income tax . Military state income tax after November 18, 1996, enter on line 3. Military state income tax . Military state income tax . Military state income tax 55 or under 300 360 56–60 260 310 61–65 240 260 66–70 170 210 71 or older 120 160 TABLE 2 FOR LINE 3 ABOVE IF the combined ages at annuity starting date were. Military state income tax . Military state income tax . Military state income tax   THEN enter on line 3. Military state income tax . Military state income tax . Military state income tax 110 or under   410 111–120   360 121–130   310 131–140   260 141 or older   210 * A death benefit exclusion (up to $5,000) applied to certain benefits received by employees who died before August 21, 1996. Military state income tax Who must use the General Rule. Military state income tax   You must use the General Rule if you receive pension or annuity payments from: A nonqualified plan (such as a private annuity, a purchased commercial annuity, or a nonqualified employee plan), or A qualified plan if you are age 75 or older on your annuity starting date and your annuity payments are guaranteed for at least 5 years. Military state income tax Annuity starting before November 19, 1996. Military state income tax   If your annuity starting date is after July 1, 1986, and before November 19, 1996, you had to use the General Rule for either circumstance just described. Military state income tax You also had to use it for any fixed-period annuity. Military state income tax If you did not have to use the General Rule, you could have chosen to use it. Military state income tax If your annuity starting date is before July 2, 1986, you had to use the General Rule unless you could use the Three-Year Rule. Military state income tax   If you had to use the General Rule (or chose to use it), you must continue to use it each year that you recover your cost. Military state income tax Who cannot use the General Rule. Military state income tax   You cannot use the General Rule if you receive your pension or annuity from a qualified plan and none of the circumstances described in the preceding discussions apply to you. Military state income tax See Who must use the Simplified Method , earlier. Military state income tax More information. Military state income tax   For complete information on using the General Rule, including the actuarial tables you need, see Publication 939. Military state income tax Taxation of Nonperiodic Payments Nonperiodic distributions are also known as amounts not received as an annuity. Military state income tax They include all payments other than periodic payments and corrective distributions. Military state income tax Examples of nonperiodic payments are cash withdrawals, distributions of current earnings, certain loans, and the value of annuity contracts transferred without full and adequate consideration. Military state income tax Corrective distributions of excess plan contributions. Military state income tax   Generally, if the contributions made for you during the year to certain retirement plans exceed certain limits, the excess is taxable to you. Military state income tax To correct an excess, your plan may distribute it to you (along with any income earned on the excess). Military state income tax For information on plan contribution limits and how to report corrective distributions of excess contributions, see Retirement Plan Contributions under Employee Compensation in Publication 525. Military state income tax Figuring the taxable amount of nonperiodic payments. Military state income tax   How you figure the taxable amount of a nonperiodic distribution depends on whether it is made before the annuity starting date, or on or after the annuity starting date. Military state income tax If it is made before the annuity starting date, its tax treatment also depends on whether it is made under a qualified or nonqualified plan. Military state income tax If it is made under a nonqualified plan, its tax treatment depends on whether it fully discharges the contract, is received under certain life insurance or endowment contracts, or is allocable to an investment you made before August 14, 1982. Military state income tax Annuity starting date. Military state income tax   The annuity starting date is either the first day of the first period for which you receive an annuity payment under the contract or the date on which the obligation under the contract becomes fixed, whichever is later. Military state income tax Distribution on or after annuity starting date. Military state income tax   If you receive a nonperiodic payment from your annuity contract on or after the annuity starting date, you generally must include all of the payment in gross income. Military state income tax Distribution before annuity starting date. Military state income tax   If you receive a nonperiodic distribution before the annuity starting date from a qualified retirement plan, you generally can allocate only part of it to the cost of the contract. Military state income tax You exclude from your gross income the part that you allocate to the cost. Military state income tax You include the remainder in your gross income. Military state income tax   If you receive a nonperiodic distribution before the annuity starting date from a plan other than a qualified retirement plan (nonqualified plan), it is allocated first to earnings (the taxable part) and then to the cost of the contract (the tax-free part). Military state income tax This allocation rule applies, for example, to a commercial annuity contract you bought directly from the issuer. Military state income tax    Distributions from nonqualified plans are subject to the net investment income tax. Military state income tax See the Instructions for Form 8960. Military state income tax   For more information, see Figuring the Taxable Amount under Taxation of Nonperiodic Payments in Publication 575. Military state income tax Lump-Sum Distributions This section on lump-sum distributions only applies if the plan participant was born before January 2, 1936. Military state income tax If the plan participant was born after January 1, 1936, the taxable amount of this nonperiodic payment is reported as discussed earlier. Military state income tax A lump-sum distribution is the distribution or payment in one tax year of a plan participant's entire balance from all of the employer's qualified plans of one kind (for example, pension, profit-sharing, or stock bonus plans). Military state income tax A distribution from a nonqualified plan (such as a privately purchased commercial annuity or a section 457 deferred compensation plan of a state or local government or tax-exempt organization) cannot qualify as a lump-sum distribution. Military state income tax The participant's entire balance from a plan does not include certain forfeited amounts. Military state income tax It also does not include any deductible voluntary employee contributions allowed by the plan after 1981 and before 1987. Military state income tax For more information about distributions that do not qualify as lump-sum distributions, see Distributions that do not qualify under Lump-Sum Distributions in Publication 575. Military state income tax If you receive a lump-sum distribution from a qualified employee plan or qualified employee annuity and the plan participant was born before January 2, 1936, you may be able to elect optional methods of figuring the tax on the distribution. Military state income tax The part from active participation in the plan before 1974 may qualify as capital gain subject to a 20% tax rate. Military state income tax The part from participation after 1973 (and any part from participation before 1974 that you do not report as capital gain) is ordinary income. Military state income tax You may be able to use the 10-year tax option, discussed later, to figure tax on the ordinary income part. Military state income tax Use Form 4972 to figure the separate tax on a lump-sum distribution using the optional methods. Military state income tax The tax figured on Form 4972 is added to the regular tax figured on your other income. Military state income tax This may result in a smaller tax than you would pay by including the taxable amount of the distribution as ordinary income in figuring your regular tax. Military state income tax How to treat the distribution. Military state income tax   If you receive a lump-sum distribution, you may have the following options for how you treat the taxable part. Military state income tax Report the part of the distribution from participation before 1974 as a capital gain (if you qualify) and the part from participation after 1973 as ordinary income. Military state income tax Report the part of the distribution from participation before 1974 as a capital gain (if you qualify) and use the 10-year tax option to figure the tax on the part from participation after 1973 (if you qualify). Military state income tax Use the 10-year tax option to figure the tax on the total taxable amount (if you qualify). Military state income tax Roll over all or part of the distribution. Military state income tax See Rollovers , later. Military state income tax No tax is currently due on the part rolled over. Military state income tax Report any part not rolled over as ordinary income. Military state income tax Report the entire taxable part of the distribution as ordinary income on your tax return. Military state income tax   The first three options are explained in the following discussions. Military state income tax Electing optional lump-sum treatment. Military state income tax   You can choose to use the 10-year tax option or capital gain treatment only once after 1986 for any plan participant. Military state income tax If you make this choice, you cannot use either of these optional treatments for any future distributions for the participant. Military state income tax Taxable and tax-free parts of the distribution. Military state income tax    The taxable part of a lump-sum distribution is the employer's contributions and income earned on your account. Military state income tax You may recover your cost in the lump sum and any net unrealized appreciation (NUA) in employer securities tax free. Military state income tax Cost. Military state income tax   In general, your cost is the total of: The plan participant's nondeductible contributions to the plan, The plan participant's taxable costs of any life insurance contract distributed, Any employer contributions that were taxable to the plan participant, and Repayments of any loans that were taxable to the plan participant. Military state income tax You must reduce this cost by amounts previously distributed tax free. Military state income tax Net unrealized appreciation (NUA). Military state income tax   The NUA in employer securities (box 6 of Form 1099-R) received as part of a lump-sum distribution is generally tax free until you sell or exchange the securities. Military state income tax (For more information, see Distributions of employer securities under Taxation of Nonperiodic Payments in Publication 575. Military state income tax ) Capital Gain Treatment Capital gain treatment applies only to the taxable part of a lump-sum distribution resulting from participation in the plan before 1974. Military state income tax The amount treated as capital gain is taxed at a 20% rate. Military state income tax You can elect this treatment only once for any plan participant, and only if the plan participant was born before January 2, 1936. Military state income tax Complete Part II of Form 4972 to choose the 20% capital gain election. Military state income tax For more information, see Capital Gain Treatment under Lump-Sum Distributions in Publication 575. Military state income tax 10-Year Tax Option The 10-year tax option is a special formula used to figure a separate tax on the ordinary income part of a lump-sum distribution. Military state income tax You pay the tax only once, for the year in which you receive the distribution, not over the next 10 years. Military state income tax You can elect this treatment only once for any plan participant, and only if the plan participant was born before January 2, 1936. Military state income tax The ordinary income part of the distribution is the amount shown in box 2a of the Form 1099-R given to you by the payer, minus the amount, if any, shown in box 3. Military state income tax You also can treat the capital gain part of the distribution (box 3 of Form 1099-R) as ordinary income for the 10-year tax option if you do not choose capital gain treatment for that part. Military state income tax Complete Part III of Form 4972 to choose the 10-year tax option. Military state income tax You must use the special Tax Rate Schedule shown in the instructions for Part III to figure the tax. Military state income tax Publication 575 illustrates how to complete Form 4972 to figure the separate tax. Military state income tax Rollovers If you withdraw cash or other assets from a qualified retirement plan in an eligible rollover distribution, you can defer tax on the distribution by rolling it over to another qualified retirement plan or a traditional IRA. Military state income tax For this purpose, the following plans are qualified retirement plans. Military state income tax A qualified employee plan. Military state income tax A qualified employee annuity. Military state income tax A tax-sheltered annuity plan (403(b) plan). Military state income tax An eligible state or local government section 457 deferred compensation plan. Military state income tax Eligible rollover distributions. Military state income tax   Generally, an eligible rollover distribution is any distribution of all or any part of the balance to your credit in a qualified retirement plan. Military state income tax For information about exceptions to eligible rollover distributions, see Publication 575. Military state income tax Rollover of nontaxable amounts. Military state income tax   You may be able to roll over the nontaxable part of a distribution (such as your after-tax contributions) made to another qualified retirement plan that is a qualified employee plan or a 403(b) plan, or to a traditional or Roth IRA. Military state income tax The transfer must be made either through a direct rollover to a qualified plan or 403(b) plan that separately accounts for the taxable and nontaxable parts of the rollover or through a rollover to a traditional or Roth IRA. Military state income tax   If you roll over only part of a distribution that includes both taxable and nontaxable amounts, the amount you roll over is treated as coming first from the taxable part of the distribution. Military state income tax   Any after-tax contributions that you roll over into your traditional IRA become part of your basis (cost) in your IRAs. Military state income tax To recover your basis when you take distributions from your IRA, you must complete Form 8606 for the year of the distribution. Military state income tax For more information, see the Form 8606 instructions. Military state income tax Direct rollover option. Military state income tax   You can choose to have any part or all of an eligible rollover distribution paid directly to another qualified retirement plan that accepts rollover distributions or to a traditional or Roth IRA. Military state income tax If you choose the direct rollover option, or have an automatic rollover, no tax will be withheld from any part of the distribution that is directly paid to the trustee of the other plan. Military state income tax Payment to you option. Military state income tax   If an eligible rollover distribution is paid to you, 20% generally will be withheld for income tax. Military state income tax However, the full amount is treated as distributed to you even though you actually receive only 80%. Military state income tax You generally must include in income any part (including the part withheld) that you do not roll over within 60 days to another qualified retirement plan or to a traditional or Roth IRA. Military state income tax (See Pensions and Annuities under Tax Withholding for 2014 in chapter 4. Military state income tax )    If you decide to roll over an amount equal to the distribution before withholding, your contribution to the new plan or IRA must include other money (for example, from savings or amounts borrowed) to replace the amount withheld. Military state income tax Time for making rollover. Military state income tax   You generally must complete the rollover of an eligible rollover distribution paid to you by the 60th day following the day on which you receive the distribution from your employer's plan. Military state income tax (If an amount distributed to you becomes a frozen deposit in a financial institution during the 60-day period after you receive it, the rollover period is extended for the period during which the distribution is in a frozen deposit in a financial institution. Military state income tax )   The IRS may waive the 60-day requirement where the failure to do so would be against equity or good conscience, such as in the event of a casualty, disaster, or other event beyond your reasonable control. Military state income tax   The administrator of a qualified plan must give you a written explanation of your distribution options within a reasonable period of time before making an eligible rollover distribution. Military state income tax Qualified domestic relations order (QDRO). Military state income tax   You may be able to roll over tax free all or part of a distribution from a qualified retirement plan that you receive under a QDRO. Military state income tax If you receive the distribution as an employee's spouse or former spouse (not as a nonspousal beneficiary), the rollover rules apply to you as if you were the employee. Military state income tax You can roll over the distribution from the plan into a traditional IRA or to another eligible retirement plan. Military state income tax See Rollovers in Publication 575 for more information on benefits received under a QDRO. Military state income tax Rollover by surviving spouse. Military state income tax   You may be able to roll over tax free all or part of a distribution from a qualified retirement plan you receive as the surviving spouse of a deceased employee. Military state income tax The rollover rules apply to you as if you were the employee. Military state income tax You can roll over a distribution into a qualified retirement plan or a traditional or Roth IRA. Military state income tax For a rollover to a Roth IRA, see Rollovers to Roth IRAs , later. Military state income tax    A distribution paid to a beneficiary other than the employee's surviving spouse is generally not an eligible rollover distribution. Military state income tax However, see Rollovers by nonspouse beneficiary next. Military state income tax Rollovers by nonspouse beneficiary. Military state income tax   If you are a designated beneficiary (other than a surviving spouse) of a deceased employee, you may be able to roll over tax free all or a portion of a distribution you receive from an eligible retirement plan of the employee. Military state income tax The distribution must be a direct trustee-to-trustee transfer to your traditional or Roth IRA that was set up to receive the distribution. Military state income tax The transfer will be treated as an eligible rollover distribution and the receiving plan will be treated as an inherited IRA. Military state income tax For information on inherited IRAs, see What if You Inherit an IRA? in chapter 1 of Publication 590, Individual Retirement Arrangements (IRAs). Military state income tax Retirement bonds. Military state income tax   If you redeem retirement bonds purchased under a qualified bond purchase plan, you can roll over the proceeds that exceed your basis tax free into an IRA (as discussed in Publication 590) or a qualified employer plan. Military state income tax Designated Roth accounts. Military state income tax   You can roll over an eligible rollover distribution from a designated Roth account into another designated Roth account or a Roth IRA. Military state income tax If you want to roll over the part of the distribution that is not included in income, you must make a direct rollover of the entire distribution or you can roll over the entire amount (or any portion) to a Roth IRA. Military state income tax For more information on rollovers from designated Roth accounts, see Rollovers in Publication 575. Military state income tax In-plan rollovers to designated Roth accounts. Military state income tax   If you are a plan participant in a 401(k), 403(b), or 457(b) plan, your plan may permit you to roll over amounts in those plans to a designated Roth account within the same plan. Military state income tax The rollover of any untaxed amounts must be included in income. Military state income tax See Designated Roth accounts under Rollovers in Publication 575 for more information. Military state income tax Rollovers to Roth IRAs. Military state income tax   You can roll over distributions directly from a qualified retirement plan (other than a designated Roth account) to a Roth IRA. Military state income tax   You must include in your gross income distributions from a qualified retirement plan (other than a designated Roth account) that you would have had to include in income if you had not rolled them over into a Roth IRA. Military state income tax You do not include in gross income any part of a distribution from a qualified retirement plan that is a return of contributions to the plan that were taxable to you when paid. Military state income tax In addition, the 10% tax on early distributions does not apply. Military state income tax More information. Military state income tax   For more information on the rules for rolling over distributions, see Rollovers in Publication 575. Military state income tax Special Additional Taxes To discourage the use of pension funds for purposes other than normal retirement, the law imposes additional taxes on early distributions of those funds and on failures to withdraw the funds timely. Military state income tax Ordinarily, you will not be subject to these taxes if you roll over all early distributions you receive, as explained earlier, and begin drawing out the funds at a normal retirement age, in reasonable amounts over your life expectancy. Military state income tax These special additional taxes are the taxes on: Early distributions, and Excess accumulation (not receiving minimum distributions). Military state income tax These taxes are discussed in the following sections. Military state income tax If you must pay either of these taxes, report them on Form 5329. Military state income tax However, you do not have to file Form 5329 if you owe only the tax on early distributions and your Form 1099-R correctly shows a “1” in box 7. Military state income tax Instead, enter 10% of the taxable part of the distribution on Form 1040, line 58 and write “No” under the heading “Other Taxes” to the left of line 58. Military state income tax Even if you do not owe any of these taxes, you may have to complete Form 5329 and attach it to your Form 1040. Military state income tax This applies if you meet an exception to the tax on early distributions but box 7 of your Form 1099-R does not indicate an exception. Military state income tax Tax on Early Distributions Most distributions (both periodic and nonperiodic) from qualified retirement plans and nonqualified annuity contracts made to you before you reach age 59½ are subject to an additional tax of 10%. Military state income tax This tax applies to the part of the distribution that you must include in gross income. Military state income tax For this purpose, a qualified retirement plan is: A qualified employee plan, A qualified employee annuity plan, A tax-sheltered annuity plan, or An eligible state or local government section 457 deferred compensation plan (to the extent that any distribution is attributable to amounts the plan received in a direct transfer or rollover from one of the other plans listed here or an IRA). Military state income tax 5% rate on certain early distributions from deferred annuity contracts. Military state income tax   If an early withdrawal from a deferred annuity is otherwise subject to the 10% additional tax, a 5% rate may apply instead. Military state income tax A 5% rate applies to distributions under a written election providing a specific schedule for the distribution of your interest in the contract if, as of March 1, 1986, you had begun receiving payments under the election. Military state income tax On line 4 of Form 5329, multiply the line 3 amount by 5% instead of 10%. Military state income tax Attach an explanation to your return. Military state income tax Distributions from Roth IRAs allocable to a rollover from an eligible retirement plan within the 5-year period. Military state income tax   If, within the 5-year period starting with the first day of your tax year in which you rolled over an amount from an eligible retirement plan to a Roth IRA, you take a distribution from the Roth IRA, you may have to pay the additional 10% tax on early distributions. Military state income tax You generally must pay the 10% additional tax on any amount attributable to the part of the rollover that you had to include in income. Military state income tax The additional tax is figured on Form 5329. Military state income tax For more information, see Form 5329 and its instructions. Military state income tax For information on qualified distributions from Roth IRAs, see Additional Tax on Early Distributions in chapter 2 of Publication 590. Military state income tax Distributions from designated Roth accounts allocable to in-plan Roth rollovers within the 5-year period. Military state income tax   If, within the 5-year period starting with the first day of your tax year in which you rolled over an amount from a 401(k), 403(b), or 457(b) plan to a designated Roth account, you take a distribution from the designated Roth account, you may have to pay the additional 10% tax on early distributions. Military state income tax You generally must pay the 10% additional tax on any amount attributable to the part of the in-plan rollover that you had to include in income. Military state income tax The additional tax is figured on Form 5329. Military state income tax For more information, see Form 5329 and its instructions. Military state income tax For information on qualified distributions from designated Roth accounts, see Designated Roth accounts under Taxation of Periodic Payments in Publication 575. Military state income tax Exceptions to tax. Military state income tax    Certain early distributions are excepted from the early distribution tax. Military state income tax If the payer knows that an exception applies to your early distribution, distribution code “2,” “3,” or “4” should be shown in box 7 of your Form 1099-R and you do not have to report the distribution on Form 5329. Military state income tax If an exception applies but distribution code “1” (early distribution, no known exception) is shown in box 7, you must file Form 5329. Military state income tax Enter the taxable amount of the distribution shown in box 2a of your Form 1099-R on line 1 of Form 5329. Military state income tax On line 2, enter the amount that can be excluded and the exception number shown in the Form 5329 instructions. Military state income tax    If distribution code “1” is incorrectly shown on your Form 1099-R for a distribution received when you were age 59½ or older, include that distribution on Form 5329. Military state income tax Enter exception number “12” on line 2. Military state income tax General exceptions. Military state income tax   The tax does not apply to distributions that are: Made as part of a series of substantially equal periodic payments (made at least annually) for your life (or life expectancy) or the joint lives (or joint life expectancies) of you and your designated beneficiary (if from a qualified retirement plan, the payments must begin after your separation from service), Made because you are totally and permanently disabled, or Made on or after the death of the plan participant or contract holder. Military state income tax Additional exceptions for qualified retirement plans. Military state income tax   The tax does not apply to distributions that are: From a qualified retirement plan (other than an IRA) after your separation from service in or after the year you reached age 55 (age 50 for qualified public safety employees), From a qualified retirement plan (other than an IRA) to an alternate payee under a qualified domestic relations order, From a qualified retirement plan to the extent you have deductible medical expenses that exceed 10% (or 7. Military state income tax 5% if you or your spouse are age 65 or older) of your adjusted gross income, whether or not you itemize your deductions for the year, From an employer plan under a written election that provides a specific schedule for distribution of your entire interest if, as of March 1, 1986, you had separated from service and had begun receiving payments under the election, From an employee stock ownership plan for dividends on employer securities held by the plan, From a qualified retirement plan due to an IRS levy of the plan, From elective deferral accounts under 401(k) or 403(b) plans or similar arrangements that are qualified reservist distributions, or Phased retirement annuity payments made to federal employees. Military state income tax See Pub. Military state income tax 721 for more information on the phased retirement program. Military state income tax Qualified public safety employees. Military state income tax   If you are a qualified public safety employee, distributions made from a governmental defined benefit pension plan are not subject to the additional tax on early distributions. Military state income tax You are a qualified public safety employee if you provide police protection, firefighting services, or emergency medical services for a state or municipality, and you separated from service in or after the year you attained age 50. Military state income tax Qualified reservist distributions. Military state income tax   A qualified reservist distribution is not subject to the additional tax on early distributions. Military state income tax A qualified reservist distribution is a distribution (a) from elective deferrals under a section 401(k) or 403(b) plan, or a similar arrangement, (b) to an individual ordered or called to active duty (because he or she is a member of a reserve component) for a period of more than 179 days or for an indefinite period, and (c) made during the period beginning on the date of the order or call and ending at the close of the active duty period. Military state income tax You must have been ordered or called to active duty after September 11, 2001. Military state income tax For more information, see Qualified reservist distributions under Special Additional Taxes in Publication 575. Military state income tax Additional exceptions for nonqualified annuity contracts. Military state income tax   The tax does not apply to distributions from: A deferred annuity contract to the extent allocable to investment in the contract before August 14, 1982, A deferred annuity contract under a qualified personal injury settlement, A deferred annuity contract purchased by your employer upon termination of a qualified employee plan or qualified employee annuity plan and held by your employer until your separation from service, or An immediate annuity contract (a single premium contract providing substantially equal annuity payments that start within 1 year from the date of purchase and are paid at least annually). Military state income tax Tax on Excess Accumulation To make sure that most of your retirement benefits are paid to you during your lifetime, rather than to your beneficiaries after your death, the payments that you receive from qualified retirement plans must begin no later than your required beginning date (defined later). Military state income tax The payments each year cannot be less than the required minimum distribution. Military state income tax Required distributions not made. Military state income tax   If the actual distributions to you in any year are less than the minimum required distribution for that year, you are subject to an additional tax. Military state income tax The tax equals 50% of the part of the required minimum distribution that was not distributed. Military state income tax   For this purpose, a qualified retirement plan includes: A qualified employee plan, A qualified employee annuity plan, An eligible section 457 deferred compensation plan, or A tax-sheltered annuity plan (403(b) plan)(for benefits accruing after 1986). Military state income tax Waiver. Military state income tax   The tax may be waived if you establish that the shortfall in distributions was due to reasonable error and that reasonable steps are being taken to remedy the shortfall. Military state income tax See the Instructions for Form 5329 for the procedure to follow if you believe you qualify for a waiver of this tax. Military state income tax State insurer delinquency proceedings. Military state income tax   You might not receive the minimum distribution because assets are invested in a contract issued by an insurance company in state insurer delinquency proceedings. Military state income tax If your payments are reduced below the minimum due to these proceedings, you should contact your plan administrator. Military state income tax Under certain conditions, you will not have to pay the 50% excise tax. Military state income tax Required beginning date. Military state income tax   Unless the rule for 5% owners applies, you generally must begin to receive distributions from your qualified retirement plan by April 1 of the year that follows the later of: The calendar year in which you reach age 70½, or The calendar year in which you retire from employment with the employer maintaining the plan. Military state income tax However, your plan may require you to begin to receive distributions by April 1 of the year that follows the year in which you reach age 70½, even if you have not retired. Military state income tax   If you reached age 70½ in 2013, you may be required to receive your first distribution by April 1, 2014. Military state income tax Your required distribution then must be made for 2014 by December 31, 2014. Military state income tax 5% owners. Military state income tax   If you are a 5% owner, you must begin to receive distributions by April 1 of the year that follows the calendar year in which you reach age 70½. Military state income tax   You are a 5% owner if, for the plan year ending in the calendar year in which you reach age 70½, you own (or are considered to own under section 318 of the Internal Revenue Code) more than 5% of the outstanding stock (or more than 5% of the total voting power of all stock) of the employer, or more than 5% of the capital or profits interest in the employer. Military state income tax Age 70½. Military state income tax   You reach age 70½ on the date that is 6 calendar months after the date of your 70th birthday. Military state income tax   For example, if you are retired and your 70th birthday was on June 30, 2013, you were age 70½ on December 30, 2013. Military state income tax If your 70th birthday was on July 1, 2013, you reached age 70½ on January 1, 2014. Military state income tax Required distributions. Military state income tax   By the required beginning date, as explained earlier, you must either: Receive your entire interest in the plan (for a tax-sheltered annuity, your entire benefit accruing after 1986), or Begin receiving periodic distributions in annual amounts calculated to distribute your entire interest (for a tax-sheltered annuity, your entire benefit accruing after 1986) over your life or life expectancy or over the joint lives or joint life expectancies of you and a designated beneficiary (or over a shorter period). Military state income tax Additional information. Military state income tax   For more information on this rule, see Tax on Excess Accumulation in Publication 575. Military state income tax Form 5329. Military state income tax   You must file Form 5329 if you owe tax because you did not receive a minimum required distribution from your qualified retirement plan. Military state income tax Survivors and Beneficiaries Generally, a survivor or beneficiary reports pension or annuity income in the same way the plan participant would have. Military state income tax However, some special rules apply. Military state income tax See Publication 575 for more information. Military state income tax Survivors of employees. Military state income tax   If you are entitled to receive a survivor annuity on the death of an employee who died, you can exclude part of each annuity payment as a tax-free recovery of the employee's investment in the contract. Military state income tax You must figure the taxable and tax-free parts of your annuity payments using the method that applies as if you were the employee. Military state income tax Survivors of retirees. Military state income tax   If you receive benefits as a survivor under a joint and survivor annuity, include those benefits in income in the same way the retiree would have included them in income. Military state income tax If you receive a survivor annuity because of the death of a retiree who had reported the annuity under the Three-Year Rule and recovered all of the cost tax free, your survivor payments are fully taxable. Military state income tax    If the retiree was reporting the annuity payments under the General Rule, you must apply the same exclusion percentage to your initial survivor annuity payment called for in the contract. Military state income tax The resulting tax-free amount will then remain fixed. Military state income tax Any increases in the survivor annuity are fully taxable. Military state income tax    If the retiree was reporting the annuity payments under the Simplified Method, the part of each payment that is tax free is the same as the tax-free amount figured by the retiree at the annuity starting date. Military state income tax This amount remains fixed even if the annuity payments are increased or decreased. Military state income tax See Simplified Method , earlier. Military state income tax   In any case, if the annuity starting date is after 1986, the total exclusion over the years cannot be more than the cost. Military state income tax Estate tax deduction. Military state income tax   If your annuity was a joint and survivor annuity that was included in the decedent's estate, an estate tax may have been paid on it. Military state income tax You can deduct the part of the total estate tax that was based on the annuity. Military state income tax The deceased annuitant must have died after the annuity starting date. Military state income tax (For details, see section 1. Military state income tax 691(d)-1 of the regulations. Military state income tax ) Deduct it in equal amounts over your remaining life expectancy. Military state income tax   If the decedent died before the annuity starting date of a deferred annuity contract and you receive a death benefit under that contract, the amount you receive (either in a lump sum or as periodic payments) in excess of the decedent's cost is included in your gross income as income in respect of a decedent for which you may be able to claim an estate tax deduction. Military state income tax   You can take the estate tax deduction as an itemized deduction on Schedule A, Form 1040. Military state income tax This deduction is not subject to the 2%-of-adjusted-gross-income limit on miscellaneous deductions. Military state income tax See Publication 559, Survivors, Executors, and Administrators, for more information on the estate tax deduction. Military state income tax Prev  Up  Next   Home   More Online Publications
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The Military State Income Tax

Military state income tax 22. Military state income tax   Impuestos Table of Contents IntroductionGobierno tribal de indios estadounidenses. Military state income tax Useful Items - You may want to see: Requisitos para Deducir Todo Impuesto Impuestos sobre los IngresosImpuestos Estatales y Locales sobre los Ingresos Impuestos Extranjeros sobre los Ingresos Impuestos Generales sobre las VentasVehículos de motor. Military state income tax Impuestos sobre Bienes RaícesImpuestos sobre bienes raíces de años anteriores. Military state income tax Ejemplos. Military state income tax Formulario 1099-S. Military state income tax Cantidades Relacionadas con Bienes Raíces que no Puede Deducir Impuestos sobre Bienes Muebles Impuestos y Cargos que no Puede Deducir Dónde se Anotan las Deducciones Introduction Este capítulo trata de los impuestos que puede deducir si detalla sus deducciones en el Anexo A (Formulario 1040). Military state income tax También explica cuáles impuestos puede deducir en otros anexos o formularios y cuáles impuestos no puede deducir. Military state income tax Este capítulo trata sobre los siguientes temas: Impuestos sobre los ingresos (federales, estatales, locales, y extranjeros). Military state income tax Impuestos generales sobre ventas (estatales y locales). Military state income tax Impuestos sobre bienes raíces (estatales, locales, y extranjeros). Military state income tax Impuestos sobre bienes muebles (estatales y locales). Military state income tax Impuestos y cargos que usted no puede deducir. Military state income tax Use la Tabla 22-1 como guía para determinar cuáles impuestos se pueden deducir. Military state income tax Hay una sección al final del capítulo que le explica cuál formulario debe usar para deducir diferentes tipos de impuestos. Military state income tax Impuestos de negocio. Military state income tax   Puede deducir ciertos impuestos solamente si son gastos ordinarios y necesarios de su ocupación o negocio o si los incurre para generar ingresos. Military state income tax Para información sobre estos impuestos, vea la Publicación 535, Business Expenses (Gastos de negocio), en inglés. Military state income tax Impuestos estatales o locales. Military state income tax   Éstos son impuestos gravados por los 50 estados, posesiones (territorios no autónomos) de los EE. Military state income tax UU. Military state income tax o cualquiera de sus subdivisiones políticas (tal como un condado o una ciudad) o por el Distrito de Columbia. Military state income tax Gobierno tribal de indios estadounidenses. Military state income tax   Un gobierno tribal de indios estadounidenses, al que el Secretario del Tesoro reconoce que desempeña funciones gubernamentales sustanciales, se considera un estado para el propósito de reclamar una deducción tributaria. Military state income tax Los impuestos sobre los ingresos, impuestos sobre bienes raíces e impuestos sobre bienes muebles gravados por dicho gobierno tribal de indios estadounidenses (o por cualquiera de sus subdivisiones tratadas como si fueran subdivisiones políticas de un estado) son deducibles. Military state income tax Impuestos generales sobre las ventas. Military state income tax   Estos son impuestos que se gravan a tasa fija sobre ventas al por menor. Military state income tax Dichos impuestos corresponden a una amplia gama de diferentes tipos de artículos. Military state income tax Impuestos extranjeros. Military state income tax   Éstos son impuestos que grava un país extranjero o cualesquiera de sus subdivisiones políticas. Military state income tax Useful Items - You may want to see: Publicación 514 Foreign Tax Credit for Individuals (Crédito por impuestos extranjeros para personas físicas), en inglés 530 Tax Information for Homeowners (Información tributaria para propietarios de vivienda), en inglés Formularios (e Instrucciones) Anexo A (Formulario 1040) Itemized Deductions (Deducciones detalladas), en inglés Anexo E (Formulario 1040) Supplemental Income and Loss (Ingresos y pérdidas suplementarios), en inglés 1116 Foreign Tax Credit (Crédito por impuestos extranjeros), en inglés Requisitos para Deducir Todo Impuesto Para que un impuesto sea deducible, se tienen que cumplir los dos requisitos siguientes: Se le tiene que gravar el impuesto a usted. Military state income tax Usted tiene que pagar el impuesto durante su año tributario. Military state income tax Se le tiene que gravar el impuesto a usted. Military state income tax   En general, sólo puede deducir los impuestos que se le gravan a usted. Military state income tax   Generalmente, puede deducir impuestos sobre bienes muebles sólo si usted es el dueño de la propiedad. Military state income tax Si su cónyuge es dueño de la propiedad y paga impuestos sobre bienes raíces correspondientes a la misma, los impuestos se pueden deducir en la declaración separada de su cónyuge o en su declaración conjunta. Military state income tax Tiene que pagar el impuesto durante su año tributario. Military state income tax   Si es un contribuyente que usa el método contable a base de efectivo para pagar sus impuestos, puede deducir sólo aquellos impuestos que de hecho pagó durante su año tributario. Military state income tax Si paga sus impuestos con cheque, el día en que envía o entrega el cheque se considera la fecha de pago, con tal de que el cheque sea aceptado por la institución financiera. Military state income tax Si utiliza una cuenta para pagar por teléfono (como una tarjeta de crédito o retiro de fondos electrónico), la fecha de pago será la fecha en el estado de cuentas de la institución financiera indicando cuándo se hizo el pago. Military state income tax Si usted disputa una obligación tributaria y es un contribuyente que usa el método a base de efectivo para pagar sus impuestos, puede deducir el impuesto únicamente en el año en que de hecho lo paga (o transfiere dinero u otros bienes para cumplir con la obligación en disputa). Military state income tax Vea la Publicación 538, Accounting Periods and Methods (Períodos y métodos contables), en inglés, para más detalles. Military state income tax    Si usa el método contable a base de lo devengado, vea la Publicación 538, en inglés, para más información. Military state income tax Impuestos sobre los Ingresos Esta sección explica cuáles impuestos estatales y locales sobre los ingresos (incluyendo aportaciones del empleado a fondos estatales de beneficios) y cuáles impuestos sobre ingresos extranjeros se pueden deducir. Military state income tax Impuestos Estatales y Locales sobre los Ingresos Puede deducir los impuestos estatales o locales sobre los ingresos. Military state income tax Sin embargo, puede eligir deducir los impuestos generales estatales y locales sobre ventas en vez de deducir los impuestos estatales y locales sobre los ingresos. Military state income tax Vea Impuestos Generales sobre las Ventas , mas adelante. Military state income tax Excepción. Military state income tax    No puede deducir impuestos estatales y locales que pague sobre ingresos exentos del impuesto federal sobre el ingreso, a menos que el ingreso exento del impuesto sea ingreso de intereses. Military state income tax Por ejemplo, no puede deducir la parte del impuesto estatal sobre el ingreso que se grava sobre un subsidio por costo de vida exento del impuesto federal sobre el ingreso. Military state income tax Qué Deducir Su deducción puede ser por impuestos retenidos, pagos de impuesto estimado u otros pagos de impuestos conforme a lo siguiente: Impuestos retenidos. Military state income tax   Puede deducir los impuestos estatales y locales sobre el ingreso retenidos de su sueldo en el año en que son retenidos. Military state income tax Sus Formularios W-2 indicarán la cantidad. Military state income tax Los Formularios W-2G, 1099-G, 1099-R, y 1099-MISC también pueden indicar los impuestos sobre los ingresos estatales y locales retenidos. Military state income tax Pagos de impuesto estimado. Military state income tax   Puede deducir los pagos de impuesto estimado que hizo durante el año a un gobierno estatal o local. Military state income tax Sin embargo, tendrá que tener una base razonable para hacer los pagos de impuesto estimado. Military state income tax Todo pago de impuesto estimado estatal o local que no haya sido hecho de buena fe en el momento del pago no es deducible. Military state income tax Por ejemplo, usted hizo un pago estimado del impuesto estatal sobre el ingreso. Military state income tax No obstante, el cálculo aproximado de su obligación tributaria estatal resulta en que va a recibir un reembolso de todo su pago estimado. Military state income tax Usted no tenía ninguna base razonable para creer que podría adeudar algún impuesto estatal sobre el ingreso adicional y no puede deducir el pago de impuesto estimado. Military state income tax Reembolso aplicado a los impuestos. Military state income tax   Puede deducir toda parte de un reembolso de impuestos estatales y locales sobre el ingreso de un año anterior que haya elegido utilizar para pagar sus impuestos estimados estatales o locales sobre el ingreso del año 2013. Military state income tax    No reste de la deducción ninguno de los siguientes artículos: Todo reembolso de (o crédito por) el impuesto estatal o local sobre el ingreso (o crédito) que espere recibir para el año 2013. Military state income tax Todo reembolso de (o crédito por) impuestos estatales y locales sobre los ingresos de un año anterior que de hecho haya recibido en 2013. Military state income tax   Sin embargo, todo o parte de este reembolso (o crédito) puede ser tributable. Military state income tax Vea Reembolso de (o crédito por) impuestos estatales o locales sobre el ingreso , más adelante. Military state income tax Declaraciones federales separadas. Military state income tax   Si usted y su cónyuge presentan declaraciones separadas del impuesto estatal, local y federal sobre el ingreso, cada uno puede deducir en su declaración federal sólo la cantidad de su propio impuesto estatal y local sobre el ingreso que pagó durante el año tributario. Military state income tax Declaraciones conjuntas estatales y locales. Military state income tax   Si usted y su cónyuge presentan declaraciones conjuntas estatales y locales y declaraciones federales separadas, cada uno puede deducir en su declaración federal separada parte del total de los impuestos estatales y locales sobre el ingreso pagados durante el año tributario. Military state income tax Puede deducir sólo la cantidad del total de los impuestos que esté en proporción con sus ingresos brutos, comparados con la suma de los ingresos brutos de usted y los de su cónyuge. Military state income tax Sin embargo, no puede deducir más de la cantidad que realmente pagó durante el año. Military state income tax Puede evitar este cálculo si usted y su cónyuge son responsables, conjuntamente y por separado, de pagar la cantidad completa de impuestos estatales y locales sobre el ingreso. Military state income tax De ser así, ambos pueden deducir en sus declaraciones federales separadas la cantidad que de hecho pagó cada uno. Military state income tax Declaración conjunta federal. Military state income tax   Si ustedes presentan una declaración conjunta federal, pueden deducir el total de los impuestos estatales y locales sobre el ingreso que pagaron ustedes dos. Military state income tax Aportaciones a fondos de beneficios estatales. Military state income tax    Como empleado, puede deducir aportaciones obligatorias hechas a fondos de beneficios estatales y retenidas de su salario que proveen protección contra la pérdida de salario. Military state income tax Por ejemplo, algunos estados requieren que los empleados hagan aportaciones a fondos estatales que proveen beneficios del seguro por incapacidad o desempleo. Military state income tax Los pagos obligatorios hechos a los siguientes fondos de beneficios estatales se pueden deducir como impuestos estatales sobre el ingreso en la línea 5 del Anexo A (Formulario 1040). Military state income tax Fondo de Compensación por Desempleo de Alaska. Military state income tax Fondo de Beneficios por Incapacidad no Laboral de California. Military state income tax Fondo de Beneficios por Incapacidad no Laboral de Nueva Jersey. Military state income tax Fondo de Compensación por Desempleo de Nueva Jersey. Military state income tax Fondo de Beneficios por Incapacidad no Laboral de Nueva York. Military state income tax Fondo de Compensación por Desempleo de Pennsylvania. Military state income tax Fondo de Beneficios Temporales por Incapacidad de Rhode Island. Military state income tax Fondo de Compensación Suplementaria del Seguro Obrero del Estado de Washington. Military state income tax    Las aportaciones del empleado a planes de incapacidad privados o voluntarios no son deducibles. Military state income tax Reembolso de (o crédito por) impuestos estatales o locales sobre el ingreso. Military state income tax   Si recibe un reembolso de (o crédito por) impuestos estatales o locales sobre el ingreso en un año siguiente al año en que los pagó, puede verse obligado a incluir el reembolso en sus ingresos del año en que lo reciba, anotándolo en la línea 10 del Formulario 1040. Military state income tax Esto incluye los reembolsos resultantes de impuestos que han sido retenidos en exceso, aplicados de una declaración de un año anterior, que no han sido calculados correctamente, o que han sido calculados nuevamente, debido a una declaración enmendada. Military state income tax Si no detalló sus deducciones en el año anterior, no incluya el reembolso en los ingresos. Military state income tax Si dedujo los impuestos en el año anterior, incluya todo o parte del reembolso en la línea 10 del Formulario 1040 en el año en que reciba el reembolso. Military state income tax Para obtener una explicación de cuánto incluir, vea Recuperaciones de Fondos en el capítulo 12. Military state income tax Impuestos Extranjeros sobre los Ingresos Generalmente, puede tomar una deducción o un crédito por los impuestos sobre los ingresos que le grava un país extranjero o una posesión (territorio no autónomo) de los Estados Unidos. Military state income tax Sin embargo, no puede tomar una deducción ni un crédito por impuestos sobre los ingresos gravados a usted por otros países, que usted pagó sobre ingresos exentos del impuesto de los EE. Military state income tax UU. Military state income tax , conforme a la exclusión de ingresos ganados en el extranjero o la exclusión por concepto de vivienda en el extranjero. Military state income tax Para información sobre estas exclusiones, vea la Publicación 54, Tax Guide for U. Military state income tax S. Military state income tax Citizens and Resident Aliens Abroad (Guía tributaria para ciudadanos y residentes extranjeros de los EE. Military state income tax UU. Military state income tax en el extranjero), en inglés. Military state income tax Para información sobre el crédito por impuestos extranjeros, vea la Publicación 514, en inglés. Military state income tax Impuestos Generales sobre las Ventas Puede optar por deducir impuestos generales estatales y locales sobre ventas, en lugar de impuestos estatales y locales sobre los ingresos, como deducción detallada en la línea 5b del Anexo A (Formulario 1040). Military state income tax Usted puede calcular la deducción de impuestos sobre las ventas usando los gastos reales o las tablas correspondientes a impuestos estatales y locales. Military state income tax Gastos reales. Military state income tax   Normalmente, puede deducir los impuestos generales estatales y locales reales sobre las ventas (incluidos los impuestos de uso compensatorio) si la tasa de impuestos era igual a la tasa del impuesto general sobre las ventas. Military state income tax No obstante, los impuestos sobre las ventas de comida, ropa, suministros médicos y vehículos motorizados son deducibles como impuestos generales sobre las ventas aun si la tasa de impuestos era inferior a la tasa del impuesto general sobre las ventas. Military state income tax Si pagó impuestos sobre la venta de un vehículo motorizado a una tasa superior a la tasa del impuesto general sobre las ventas, puede deducir sólo la cantidad de impuestos que hubiera pagado conforme a la tasa del impuesto general sobre las ventas correspondientes a dicho vehículo. Military state income tax Si usa el método basado en los gastos reales, tiene que tener recibos para demostrar los impuestos generales pagados sobre las ventas. Military state income tax No incluya impuestos sobre las ventas pagado en los artículos utilizados en su actividad comercial o empresarial. Military state income tax Vehículos de motor. Military state income tax   Para propósitos de esta sección, los vehículos de motor incluyen: automóviles, motocicletas, casas rodantes, vehículos recreativos, vehículos utilitarios deportivos, camiones, camionetas y vehículos para uso fuera de la carretera. Military state income tax Esto también incluye los impuestos sobre las ventas en un vehículo arrendado, pero no en los vehículos utilizados en su actividad comercial o empresarial. Military state income tax Tablas de las tarifas opcionales para impuestos sobre las ventas. Military state income tax   En vez de usar los gastos reales, puede calcular la deducción por impuestos generales estatales y locales sobre las ventas consultando las tablas de tarifas para el impuesto estatal y local sobre las ventas en las Instrucciones del Anexo A (Formulario1040). Military state income tax Además, tal vez pueda añadir los impuestos generales estatales y locales sobre las ventas pagados sobre ciertos artículos específicos. Military state income tax   Su cantidad correspondiente de las tarifas está basada en el estado donde vive, sus ingresos y el número de exenciones reclamadas en su declaración de impuestos. Military state income tax Sus ingresos son el ingreso bruto ajustado más todo artículo no sujeto a impuestos, como los siguientes: Intereses exentos de impuestos. Military state income tax Beneficios para veteranos. Military state income tax Paga por combate no tributable. Military state income tax Compensación del seguro obrero. Military state income tax La parte no sujeta a impuestos de los beneficios del Seguro Social y de la jubilación de empleados ferroviarios. Military state income tax La parte no sujeta a impuestos de una cuenta IRA, pensión o distribuciones de una anualidad, a excepción de las reinversiones. Military state income tax Pagos de beneficios de asistencia pública. Military state income tax   Si vivió en diferentes estados del país durante el mismo año tributario, tiene que prorratear la cantidad de las tarifas correspondiente a cada estado en el que vivió según las fechas en que vivió que en cada estado. Military state income tax Vea las instrucciones de la línea 5 del Anexo A (Formulario 1040) para detalles adicionales. Military state income tax Impuestos sobre Bienes Raíces Los impuestos sobre bienes raíces deducibles son todos los impuestos estatales, locales o extranjeros sobre bienes raíces que se graven para el bienestar general del público. Military state income tax Puede deducir dichos impuestos sólo si se basan en el valor tasado de los bienes raíces y son cobrados uniformemente contra todos los bienes dentro de la jurisdicción de las autoridades tributarias. Military state income tax Los impuestos sobre bienes raíces deducibles no suelen incluir impuestos cobrados por beneficios locales ni mejoras que aumentan el valor de los bienes. Military state income tax Tampoco incluyen cargos detallados por servicios (tal como la recogida de basura) que se les cobran a bienes específicos o ciertas personas, aunque se les pague el cargo a las autoridades tributarias. Military state income tax Para más información sobre impuestos y cargos que no son deducibles, vea Cantidades Relacionadas con Bienes Raíces que no Puede Deducir , más adelante. Military state income tax Inquilinos-accionistas de una sociedad anónima de cooperativa de viviendas. Military state income tax   Normalmente, si es inquilino-accionista de una sociedad anónima de cooperativa de viviendas, puede deducir la cantidad pagada a dicha sociedad anónima que corresponda a su parte de los impuestos sobre bienes raíces que dicha sociedad anónima pagó, o en los que incurrió por la vivienda de usted. Military state income tax La sociedad anónima debería proporcionarle un estado de cuentas en el cual indica la parte de los impuestos que le corresponde. Military state income tax Para más información, vea las Special Rules for Cooperatives (Reglas especiales para cooperativas), en la Publicación 530, en inglés. Military state income tax División de los impuestos sobre bienes raíces entre compradores y vendedores. Military state income tax   Si compró o vendió bienes raíces durante el año, los impuestos sobre bienes raíces tienen que ser divididos entre el comprador y el vendedor. Military state income tax   El comprador y el vendedor tienen que dividir los impuestos de bienes raíces basándose en el número de días del año tributario para bienes raíces (el período relacionado con el impuesto gravado) que cada uno fue dueño de la propiedad. Military state income tax Al vendedor se le trata como si hubiese pagado los impuestos hasta la fecha de la venta, pero sin incluir dicha fecha. Military state income tax Al comprador se le trata como si hubiese pagado los impuestos a partir de la fecha de la venta. Military state income tax Esto corresponde independientemente de las fechas de gravamen bajo la ley local. Military state income tax Generalmente, esta información se incluye en el estado de liquidación proporcionado al cierre. Military state income tax    Si usted (el vendedor) no puede deducir los impuestos hasta que se paguen debido a su uso del método contable a base de efectivo, y el comprador de su propiedad es personalmente responsable de pagar el impuesto, se considera que usted ha pagado su parte del impuesto en el momento de la venta. Military state income tax Esto le permite deducir su parte del impuesto hasta la fecha de venta aunque de hecho no lo haya pagado. Military state income tax Sin embargo, también tiene que incluir la cantidad de dicho impuesto en el precio de venta de la propiedad. Military state income tax El comprador tiene que incluir la misma cantidad en su costo de la propiedad. Military state income tax   Calcule su deducción tributaria sobre cada propiedad comprada o vendida durante el año tributario para bienes raíces conforme a lo siguiente: Hoja de Trabajo 22-1. Military state income tax Cómo Calcular su Deducción por Impuestos sobre Bienes Raíces 1. Military state income tax Anote el total de los impuestos sobre bienes raíces del año tributario para bienes raíces   2. Military state income tax Anote el número de días del año tributario para bienes raíces que usted fue dueño de la propiedad   3. Military state income tax Divida la cantidad de la línea 2 entre 365 (para años bisiestos, divida la cantidad de la línea 2 entre 366) . Military state income tax 4. Military state income tax Multiplique la línea 1 por la línea 3. Military state income tax Ésta es su deducción. Military state income tax Anótela en la línea 6 del Anexo A (Formulario 1040). Military state income tax   Nota: Repita los pasos 1 al 4 para cada propiedad que compró o vendió durante el año tributario para bienes raíces. Military state income tax La deducción total es la suma de las cantidades de la línea 4 para todas las propiedades. Military state income tax Impuestos sobre bienes raíces de años anteriores. Military state income tax   No divida impuestos morosos entre el comprador y el vendedor si dichos impuestos corresponden a un año tributario de bienes raíces anterior al año en que se vendió la propiedad. Military state income tax Aunque el comprador acuerde pagar los impuestos morosos, el mismo no los puede deducir y tiene que sumarlos al costo de la propiedad. Military state income tax El vendedor puede deducir estos impuestos pagados por el comprador. Military state income tax Sin embargo, el vendedor tiene que incluirlos en el precio de venta. Military state income tax Ejemplos. Military state income tax   Los siguientes ejemplos demuestran cómo se dividen los impuestos sobre bienes raíces entre el comprador y el vendedor. Military state income tax Ejemplo 1. Military state income tax El año tributario de bienes raíces de José y María Blanco, tanto para su antigua vivienda como para su nueva vivienda, es el año natural. Military state income tax El plazo para pagar vence el 1 de agosto. Military state income tax El impuesto sobre su antigua vivienda, vendida el 7 de mayo, era $620. Military state income tax El impuesto sobre su nueva vivienda, comprada el 3 de mayo, es $732. Military state income tax Se considera que José y María han pagado una parte proporcional de los impuestos para bienes raíces sobre la antigua vivienda aunque de hecho no se los pagaron a las autoridades tributarias. Military state income tax Por otro lado, pueden declarar sólo una parte proporcional de los impuestos que pagaron sobre su nueva propiedad, aunque pagaron la cantidad completa. Military state income tax José y María fueron dueños de su antigua vivienda durante 126 días del año tributario para bienes raíces (del 1 de enero al 6 de mayo, el día antes de la venta). Military state income tax Calculan su deducción tributaria sobre su antigua vivienda conforme a lo siguiente: Hoja de Trabajo 22-1. Military state income tax Cómo Calcular su Deducción por Impuestos sobre Bienes Raíces−Impuestos sobre Antigua Vivienda 1. Military state income tax Anote el total de los impuestos sobre bienes raíces del año tributario para bienes raíces $620 2. Military state income tax Anote el número de días del año tributario para bienes raíces que usted fue dueño de la propiedad 126 3. Military state income tax Divida la cantidad de la línea 2 entre 365 (para años bisiestos, divida la cantidad de la línea 2 entre 366) . Military state income tax 3452 4. Military state income tax Multiplique la línea 1 por la línea 3. Military state income tax Ésta es su deducción. Military state income tax Anótela en la línea 6 del Anexo A (Formulario 1040). Military state income tax $214 Como los compradores de su antigua vivienda pagaron todos los impuestos, José y María también incluyen los $214 en el precio de venta de la antigua vivienda. Military state income tax Los compradores suman los $214 al costo de su vivienda. Military state income tax José y María fueron dueños de su nueva vivienda durante el año tributario para bienes raíces por 243 días (del 3 de mayo al 31 de diciembre, incluyendo la fecha de compra). Military state income tax Calculan su deducción tributaria sobre su nueva vivienda conforme a lo siguiente: Hoja de Trabajo 22-1. Military state income tax Cómo Calcular su Deducción por Impuestos sobre Bienes Raíces−Impuestos sobre Nueva Vivienda 1. Military state income tax Anote el total de los impuestos sobre bienes raíces del año tributario para bienes raíces $732 2. Military state income tax Anote el número de días del año tributario para bienes raíces que usted fue dueño de la propiedad 243 3. Military state income tax Divida la cantidad de la línea 2 entre 365 (para años bisiestos, divida la cantidad de la línea 2 entre 366) . Military state income tax 6658 4. Military state income tax Multiplique la línea 1 por la línea 3. Military state income tax Ésta es su deducción. Military state income tax Anótela en la línea 6 del Anexo A (Formulario 1040). Military state income tax $487 Como José y María pagaron todos los impuestos sobre la nueva vivienda, suman $245 ($732 pagados menos una deducción de $487) a su costo de la nueva vivienda. Military state income tax Los vendedores suman estos $245 a su precio de venta y deducen los $245 como impuesto sobre los bienes raíces. Military state income tax La deducción por el impuesto sobre bienes raíces de José y María por sus antiguas y nuevas viviendas es la suma de $214 y $487, o sea $701. Military state income tax Anotarán esta cantidad en la línea 6 del Anexo A (Formulario 1040). Military state income tax Ejemplo 2. Military state income tax Jorge y Helena Moreno compraron una nueva casa el 3 de mayo del año 2013. Military state income tax Su año tributario de bienes raíces para la nueva casa es el año natural. Military state income tax Los impuestos sobre bienes raíces para el año 2012 fueron gravados en el estado donde viven los Moreno el 1 de enero del año 2013. Military state income tax El plazo para pagar los impuestos venció el 31 de mayo del año 2013 y el 31 de octubre del año 2013. Military state income tax Los Moreno acordaron pagar todos los impuestos morosos después de la fecha de compra. Military state income tax Los impuestos sobre bienes raíces para el año 2012 fueron $680. Military state income tax Pagaron $340 el 31 de mayo del año 2012 y $340 el 31 de octubre del año 2013. Military state income tax Estos impuestos fueron para el año tributario de bienes raíces de 2012. Military state income tax Los Moreno no pueden deducirlos ya que no fueron dueños de la propiedad hasta el año 2013. Military state income tax En lugar de ello, tienen que añadir $680 al costo de su nueva vivienda. Military state income tax En enero del año 2014, los Moreno reciben su estado de cuenta del impuesto sobre bienes raíces del año 2013 por $752 y pagarán esta cantidad en el año 2014. Military state income tax Los Moreno fueron dueños de su nueva vivienda por 243 días (desde el 3 de mayo hasta el 31 de diciembre) durante el año tributario para bienes raíces de 2013. Military state income tax Calcularán su deducción tributaria para el año 2014 conforme a lo siguiente: Hoja de Trabajo 22-1. Military state income tax Cómo Calcular su Deducción por Impuestos sobre Bienes Raíces−Impuestos sobre Nueva Vivienda 1. Military state income tax Anote el total de los impuestos sobre bienes raíces del año tributario para bienes raíces $752 2. Military state income tax Anote el número de días del año tributario para bienes raíces que usted fue dueño de la propiedad 243 3. Military state income tax Divida la cantidad de la línea 2 entre 365 (para años bisiestos, divida la cantidad de la línea 2 entre 366) . Military state income tax 6658 4. Military state income tax Multiplique la línea 1 por la línea 3. Military state income tax Ésta es su deducción. Military state income tax Anótela en la línea 6 del Anexo A (Formulario 1040). Military state income tax $501 Los impuestos restantes de $251 (los $752 pagados menos una deducción de $501) que fueron pagados en el año 2014, junto con los $680 que fueron pagados en el año 2013, se suman al costo de su nueva vivienda. Military state income tax Debido a que se considera que los impuestos hasta la fecha de venta han sido pagados por el vendedor en la fecha de venta, éste tiene derecho a una deducción tributaria de $931 para el año 2013. Military state income tax Ésta es la suma de los $680 del año 2012 y los $251 por los 122 días durante los cuales fue dueño de la vivienda en el año 2013. Military state income tax El vendedor también tiene que incluir los $931 en el precio de venta cuando calcule la ganancia o pérdida en la venta. Military state income tax El vendedor debería ponerse en contacto con los Moreno en enero del año 2014 para averiguar cuánto impuesto sobre bienes raíces se debe pagar para el año 2013. Military state income tax Formulario 1099-S. Military state income tax   Para ciertas ventas o intercambios de bienes raíces, la persona encargada del cierre de la venta (generalmente el agente a cargo del cierre) prepara el Formulario 1099-S, Proceeds From Real Estate Transactions (Ganancias procedentes de transacciones de bienes raíces), en inglés, para declarar cierta información al IRS y al vendedor de la propiedad. Military state income tax El recuadro 2 del Formulario 1099-S es para las utilidades brutas de la venta y debería incluir la parte de la obligación tributaria por bienes raíces correspondiente al vendedor que el comprador pagará a partir de la fecha de la venta. Military state income tax El comprador incluye estos impuestos en la base del costo de la propiedad y el vendedor deduce esta cantidad como un impuesto pagado y lo incluye en el precio de venta de la propiedad. Military state income tax   Para una transacción de bienes raíces que incluya una vivienda, todo impuesto sobre bienes raíces que el vendedor haya pagado por adelantado pero que es la obligación del comprador aparece en el recuadro 5 del Formulario 1099-S. Military state income tax El comprador deduce esta cantidad como un impuesto sobre bienes raíces y el vendedor reduce esa misma cantidad de su deducción del impuesto sobre bienes raíces (o la incluye en el ingreso). Military state income tax Vea Reembolso (o rebaja) , más adelante. Military state income tax Impuestos depositados en plica. Military state income tax   Si su pago hipotecario mensual incluye una cantidad depositada en plica (puesta bajo la custodia de un tercero) para impuestos sobre bienes raíces, es posible que no pueda deducir toda la cantidad que fue depositada en plica. Military state income tax Puede deducir sólo el impuesto sobre bienes raíces que el tercero de hecho les pagó a las autoridades tributarias. Military state income tax Si el tercero no le avisa de la cantidad de impuesto sobre bienes raíces pagada en nombre suyo, póngase en contacto con el tercero o las autoridades tributarias para averiguar la cantidad que debe usar en su declaración. Military state income tax Tenencia en su totalidad. Military state income tax   Si usted y su cónyuge tuvieron propiedad conyugal en su totalidad y presentan declaraciones federales separadas, cada uno de ustedes puede deducir sólo los impuestos que cada uno de ustedes pagó sobre la propiedad. Military state income tax Personas divorciadas. Military state income tax   Si su acuerdo de divorcio o separación declara que usted tiene que pagar los impuestos sobre bienes raíces por una vivienda cuyos dueños son usted y su cónyuge, una parte de sus pagos podría ser deducible como pensión para el cónyuge divorciado y otra parte como impuestos sobre bienes raíces. Military state income tax Vea Impuestos y seguro en el capítulo 18 para más información. Military state income tax Asignaciones para la vivienda para ministros de una orden religiosa y personal militar. Military state income tax   Si es ministro de la iglesia o miembro de los servicios militares y recibe una asignación para su vivienda que puede excluir de sus ingresos, aún puede deducir todos los impuestos sobre bienes raíces que pague sobre su vivienda. Military state income tax Reembolso (o rebaja). Military state income tax   Si recibió un reembolso o una rebaja en el año tributario 2013 sobre bienes raíces que pagó ese año, tiene que reducir su deducción por la cantidad que se le ha reembolsado. Military state income tax Si recibió un reembolso o una rebaja en el año tributario 2013 sobre bienes raíces que dedujo en un año anterior (ya sea como deducción detallada o como aumento en la deducción estándar), generalmente tiene que incluir el reembolso o la rebaja en los ingresos del año en que lo reciba. Military state income tax Sin embargo, la cantidad que se incluye en los ingresos se limita a la cantidad de la deducción que disminuyó su impuesto en el año anterior. Military state income tax Para más información, vea Recuperación de Fondos en el capítulo 12. Military state income tax Tabla 22-1. Military state income tax ¿Qué Impuestos Puede Deducir? Tipo de Impuestos Puede Deducir No Puede Deducir Honorarios y Cargos Honorarios y cargos que son gastos de su ocupación o negocio o de la generación de ingresos. Military state income tax Honorarios y cargos que no son gastos de su ocupación o negocio o de la generación de ingresos, tales como cargos de licencias para conducir, inspección de vehículos, estacionamiento o cargos por servicios de agua (vea Impuestos y Cargos que no Puede Deducir ). Military state income tax     Multas y sanciones. Military state income tax Impuestos sobre los Ingresos Impuestos estatales y locales sobre los ingresos. Military state income tax Impuestos federales sobre los ingresos. Military state income tax   Impuestos extranjeros sobre los ingresos. Military state income tax Aportaciones del empleado a planes de seguro por incapacidad privados o voluntarios. Military state income tax   Aportaciones del empleado a fondos estatales, tal como se indica bajo Aportaciones a fondos de beneficios estatales . Military state income tax Impuestos generales estatales y locales sobre las ventas si opta por deducir impuestos estatales y locales sobre los ingresos. Military state income tax Impuestos Generales sobre las Ventas Impuestos generales estatales y locales sobre las ventas, incluyendo los impuestos de uso compensatorio. Military state income tax Impuestos estatales y locales sobre los ingresos si opta por deducir impuestos generales estatales y locales sobre las ventas. Military state income tax Otros Impuestos Impuestos que son gastos de su ocupación o negocio. Military state income tax Impuestos federales sobre artículos de uso y consumo, tal como el impuesto sobre gasolina, que no son gastos de su ocupación o negocio o de la generación de ingresos. Military state income tax   Impuestos sobre bienes que generan ingresos del alquiler o de regalías. Military state income tax Impuestos per cápita. Military state income tax   Impuestos sobre una profesión u ocupación. Military state income tax Vea el capítulo 28. Military state income tax     La mitad del impuesto sobre el trabajo por cuenta propia pagado. Military state income tax   Impuestos sobre Bienes Muebles Impuestos estatales y locales sobre bienes muebles. Military state income tax Aranceles de aduanas que no son gastos de su ocupación o negocio o de la generación de ingresos. Military state income tax Impuestos sobre Bienes Raíces Impuestos estatales y locales sobre bienes raíces. Military state income tax Impuestos sobre bienes raíces que se tratan como si hubiesen sido gravados a otra persona (vea División de los impuestos sobre bienes raíces entre compradores y vendedores ). Military state income tax   Impuestos extranjeros sobre bienes raíces. Military state income tax Impuestos para beneficios locales (con excepciones). Military state income tax Vea Cantidades Relacionadas con Bienes Raíces que no Puede Deducir . Military state income tax   La parte de los impuestos sobre bienes raíces del inquilino pagada por una sociedad anónima cooperativa de viviendas. Military state income tax Cargos por la recogida de basura y desperdicios (hay excepciones). Military state income tax Vea Cantidades Relacionadas con Bienes Raíces que no Puede Deducir . Military state income tax     Aumento del alquiler debido a impuestos sobre bienes raíces más altos. Military state income tax     Cuotas de la asociación de propietarios de viviendas. Military state income tax Cantidades Relacionadas con Bienes Raíces que no Puede Deducir Los pagos de los siguientes no suelen ser deducibles como impuestos sobre bienes raíces: Impuestos por beneficios locales. Military state income tax Cargos detallados por servicios (tales como cargos por la recogida de basura y desperdicios). Military state income tax Impuestos de traspaso (impuestos de timbre). Military state income tax Aumentos del alquiler ocasionados por aumentos en los impuestos sobre bienes raíces. Military state income tax Cuotas de la asociación de propietarios de vivienda. Military state income tax Impuestos por beneficios locales. Military state income tax   Los impuestos deducibles sobre bienes raíces no suelen incluir impuestos gravados por beneficios locales y mejoras que tienden a aumentar el valor de la propiedad. Military state income tax Estos incluyen impuestos por mejoras de calles, aceras o banquetas, cañerías principales, alcantarillado, instalaciones de estacionamiento público y mejoras parecidas. Military state income tax Debe aumentar la base de su propiedad por la cantidad pagada. Military state income tax   Los impuestos sobre beneficios locales se pueden deducir únicamente si son por mantenimiento, reparaciones o cargos de intereses relacionados con aquellos beneficios. Military state income tax Si sólo una parte de los impuestos es por mantenimiento, reparaciones o intereses, tiene que poder determinar cuánta fue la cantidad de dicha parte para reclamar la deducción. Military state income tax Si no puede determinar qué parte del impuesto es por mantenimiento, reparaciones o intereses, ninguna parte de éste es deducible. Military state income tax    Los impuestos sobre beneficios locales podrían incluirse en su factura del impuesto sobre bienes raíces. Military state income tax Si las autoridades tributarias (o prestamista hipotecario) no le proveen una copia de su factura del impuesto sobre bienes raíces, pídala. Military state income tax Debe usar las reglas indicadas anteriormente para determinar si puede deducir el impuesto sobre beneficios locales. Military state income tax Comuníquese con las autoridades tributarias si necesita información adicional sobre un cargo específico indicado en su factura del impuesto sobre bienes raíces. Military state income tax Cargos detallados por servicios. Military state income tax    Un cargo detallado por servicios sobre una propiedad o persona específica no es un impuesto, aun si el cargo se paga a las autoridades tributarias. Military state income tax Por ejemplo, no puede deducir el cargo como un impuesto sobre bienes raíces si es: Un cargo unitario por el abastecimiento de un servicio (tal como un cargo de $5 que se cobra por cada 1,000 galones de agua que use), Un cargo periódico por un servicio residencial (tal como un cargo de $20 al mes o $240 al año que se le cobra a cada propietario de viviendas por la recogida de basura) o Un cargo fijo que se cobra por un solo servicio provisto por su gobierno (tal como un cargo de $30 por cortar el césped por haberla dejado crecer más de lo permitido conforme al reglamento local). Military state income tax    Tiene que revisar su factura del impuesto sobre bienes raíces para determinar si algún cargo detallado no deducible, como los que se enumeran anteriormente, se ha incluido en la factura. Military state income tax Si las autoridades tributarias (o el prestamista hipotecario) no le proveen una copia de su factura del impuesto sobre bienes raíces, pídala. Military state income tax Excepción. Military state income tax   Los cargos que se utilizan para mantener o mejorar servicios (tal como la recogida de basura o la protección policial o contra incendios) son deducibles como impuestos sobre bienes raíces si: Los cargos se gravan a una tasa similar para todos los bienes en la jurisdicción que impone el impuesto, Los fondos recaudados no tienen designación específica; en vez de ello, están mezclados con fondos fiscales generales y Los fondos utilizados para mantener y mejorar servicios no se limitan a la cantidad de dichos cargos recaudados ni están determinados por dicha cantidad. Military state income tax Impuestos de traspaso (impuestos de timbre). Military state income tax   No se pueden deducir los impuestos de traspaso ni impuestos similares, ni los cargos sobre la venta de una vivienda personal. Military state income tax Si los paga el vendedor, son gastos de la venta y reducen la cantidad generada por la venta. Military state income tax Si los paga el comprador, se incluyen en la base del costo de los bienes. Military state income tax Aumento del alquiler debido a impuestos sobre bienes raíces más altos. Military state income tax   Si su arrendador aumenta su alquiler en forma de recargo tributario (surcharge) debido a un aumento de los impuestos sobre bienes raíces, no puede deducir dicho aumento como impuesto. Military state income tax Cuotas de la asociación de propietarios de vivienda. Military state income tax   Estos cargos no se pueden deducir porque son gravados por la asociación de propietarios de vivienda y no por el gobierno estatal o local. Military state income tax Impuestos sobre Bienes Muebles El impuesto sobre bienes muebles es deducible si es un impuesto estatal o local que: Se cobra sobre bienes muebles, Se basa únicamente en el valor de los bienes muebles y Se cobra anualmente, aunque se pague más o menos una vez al año. Military state income tax Se puede considerar que un impuesto que reúna los requisitos anteriores ha sido cobrado sobre bienes muebles aunque sea para el ejercicio de un privilegio. Military state income tax Por ejemplo, un impuesto anual basado en el valor reúne los requisitos como impuesto sobre bienes muebles, aunque se denomine un cargo de registro y sea para el privilegio de registrar automóviles o utilizarlos en las carreteras. Military state income tax Si el impuesto se basa parcialmente en el valor y parcialmente en otros criterios, puede reunir los requisitos en parte. Military state income tax Ejemplo. Military state income tax El estado en el que vive cobra un impuesto anual del 1% del valor, más 50 centavos por quintal (cien libras de peso) de un vehículo por el registro del mismo. Military state income tax Usted pagó $32 basados en el valor ($1,500) y peso (3,400 libras) de su automóvil. Military state income tax Puede deducir $15 (1% x $1,500) como un impuesto sobre bienes muebles, ya que esa parte se basa en el valor. Military state income tax Los $17 restantes ($0. Military state income tax 50 x 34), basados en el peso, no se pueden deducir. Military state income tax Impuestos y Cargos que no Puede Deducir Muchos impuestos del gobierno federal, estatal y local no son deducibles porque no pertenecen a las categorías mencionadas anteriormente. Military state income tax Otros impuestos y cargos, tales como los impuestos federales sobre los ingresos, no son deducibles debido a que la ley tributaria prohibe específicamente la deducción de éstos. Military state income tax Vea la Tabla 22-1. Military state income tax Los impuestos y cargos que generalmente no se pueden deducir incluyen los siguientes: Impuestos sobre la nómina. Military state income tax Esto incluye los impuestos del Seguro Social, Medicare e impuestos sobre la jubilación ferroviaria retenidos de su paga. Military state income tax No obstante, una mitad del impuesto que usted paga sobre el trabajo por cuenta propia es deducible. Military state income tax Asimismo, es posible que los impuestos del Seguro Social y otros impuestos laborales sobre la nómina que usted paga sobre el salario de un empleado doméstico se puedan incluir en los gastos médicos deducibles o en los gastos del cuidado de hijos que le permitan reclamar el crédito por gastos del cuidado de menores y dependientes. Military state income tax Para más información, vea los capítulos 21 y 32. Military state income tax Impuestos sobre caudales hereditarios, herencias, legados o sucesiones. Military state income tax No obstante, puede deducir la parte del impuesto sobre la herencia atribuible al ingreso proveniente de un difunto si usted, como beneficiario, tiene que incluir dicho ingreso en su propio ingreso bruto. Military state income tax En este caso, deduzca el impuesto sobre la herencia como deducción miscelánea no sujeta al límite del 2% del ingreso bruto ajustado. Military state income tax Para más información, vea la Publicación 559, Survivors, Executors, and Administrators (Sobrevivientes, albaceas y administradores), en inglés. Military state income tax Impuestos federales sobre los ingresos. Military state income tax Incluye impuestos sobre los ingresos retenidos de su paga. Military state income tax Multas y sanciones. Military state income tax No puede deducir multas y sanciones pagadas a un gobierno por la violación de alguna ley, incluidas cantidades afines de garantía que haya perdido. Military state income tax Impuestos sobre donaciones. Military state income tax Cargos por licencias. Military state income tax No puede deducir cargos por licencias para propósitos personales (cargos por licencia matrimonial, licencias para conducir y permiso para perros). Military state income tax Impuestos per cápita. Military state income tax No puede deducir los impuestos per cápita estatales o locales. Military state income tax Muchos impuestos y cargos que no se enumeraron anteriormente tampoco pueden ser deducidos, a menos que sean gastos ordinarios y necesarios de una actividad comercial o una actividad que genere ingresos. Military state income tax Para otros cargos que no se pueden deducir, vea Cantidades Relacionadas con Bienes Raíces que no Puede Deducir , anteriormente. Military state income tax Dónde se Anotan las Deducciones Los impuestos se deducen en los siguientes anexos: Impuestos estatales y locales sobre los ingresos. Military state income tax    Estos impuestos se deducen en la línea 5 del Anexo A (Formulario 1040), aunque su única fuente de ingresos sea de negocios, alquileres o regalías. Military state income tax Marque el recuadro a en la línea 5. Military state income tax Impuestos generales sobre las ventas. Military state income tax   Los impuestos sobre las ventas se deducen en la línea 5 del Anexo A (Formulario 1040). Military state income tax Usted tiene que marcar el recuadro b en la línea 5. Military state income tax Si elige deducir estos impuestos, no puede deducir impuestos estatales y locales sobre los ingresos en el recuadro a de la línea 5 del Anexo A (Formulario 1040). Military state income tax Impuestos extranjeros sobre los ingresos. Military state income tax   Por lo general, los impuestos que paga a un país extranjero o una posesión (territorio no autónomo) estadounidense pueden ser reclamados como una deducción detallada en la línea 8 del Anexo A (Formulario 1040) o como un crédito a su favor para su impuesto sobre el ingreso de los EE. Military state income tax UU. Military state income tax en la línea 47 del Formulario 1040. Military state income tax Para reclamar el crédito, es posible que tenga que llenar y adjuntar el Formulario 1116, en inglés. Military state income tax Para más información, vea el capítulo 37 de esta publicación, las Instrucciones del Formulario 1040 o la Publicación 514, estos dos últimos en inglés. Military state income tax Impuestos sobre bienes raíces e impuestos sobre bienes muebles. Military state income tax    Los impuestos sobre bienes raíces e impuestos sobre bienes muebles se anotan en las líneas 6 y 7, respectivamente, del Anexo A (Formulario 1040), a menos que se paguen sobre bienes utilizados en su negocio. Military state income tax En tal caso, se anotan en el Anexo C, Anexo C-EZ o Anexo F (Formulario 1040). Military state income tax Los impuestos sobre propiedad que genere ingresos de alquiler o de regalías se anotan en el Anexo E (Formulario 1040). Military state income tax Impuestos sobre el trabajo por cuenta propia. Military state income tax    Deduzca la mitad de su impuesto sobre el trabajo por cuenta propia en la línea 27 del Formulario 1040. Military state income tax Otros impuestos. Military state income tax    Todos los demás impuestos deducibles se anotan en la línea 8 del Anexo A (Formulario 1040). Military state income tax Prev  Up  Next   Home   More Online Publications