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Tax Planning Us 1040x

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Tax Planning Us 1040x

Tax planning us 1040x 4. Tax planning us 1040x   Sales and Trades of Investment Property Table of Contents IntroductionNominees. Tax planning us 1040x Topics - This chapter discusses: Useful Items - You may want to see: What Is a Sale or Trade?Dividend versus sale or trade. Tax planning us 1040x Worthless Securities Constructive Sales of Appreciated Financial Positions Section 1256 Contracts Marked to Market Basis of Investment PropertyCost Basis Basis Other Than Cost Adjusted Basis Stocks and Bonds How To Figure Gain or LossFair market value. Tax planning us 1040x Debt paid off. Tax planning us 1040x Payment of cash. Tax planning us 1040x Special Rules for Mutual Funds Nontaxable TradesLike-Kind Exchanges Corporate Stocks Exchange of Shares In One Mutual Fund For Shares In Another Mutual Fund Insurance Policies and Annuities U. Tax planning us 1040x S. Tax planning us 1040x Treasury Notes or Bonds Transfers Between Spouses Related Party TransactionsGain on Sale or Trade of Depreciable Property Capital Gains and LossesCapital or Ordinary Gain or Loss Holding Period Nonbusiness Bad Debts Short Sales Wash Sales Options Straddles Sales of Stock to ESOPs or Certain Cooperatives Rollover of Gain From Publicly Traded Securities Gains on Qualified Small Business Stock Exclusion of Gain From DC Zone Assets Reporting Capital Gains and LossesException 1. Tax planning us 1040x Exception 2. Tax planning us 1040x Section 1256 contracts and straddles. Tax planning us 1040x Market discount bonds. Tax planning us 1040x File Form 1099-B or Form 1099-S with the IRS. Tax planning us 1040x Capital Losses Capital Gain Tax Rates Special Rules for Traders in SecuritiesHow To Report Introduction This chapter explains the tax treatment of sales and trades of investment property. Tax planning us 1040x Investment property. Tax planning us 1040x   This is property that produces investment income. Tax planning us 1040x Examples include stocks, bonds, and Treasury bills and notes. Tax planning us 1040x Property used in a trade or business is not investment property. Tax planning us 1040x Form 1099-B. Tax planning us 1040x   If you sold property such as stocks, bonds, mutual funds, or certain commodities through a broker during the year, you should receive, for each sale, a Form 1099-B, Proceeds From Broker and Barter Exchange Transactions, or substitute statement, from the broker. Tax planning us 1040x You should receive the statement by February 15 of the next year. Tax planning us 1040x It will show the gross proceeds from the sale. Tax planning us 1040x The IRS will also get a copy of Form 1099-B from the broker. Tax planning us 1040x   Use Form 1099-B (or substitute statement received from your broker) to complete Form 8949. Tax planning us 1040x If you sold a covered security in 2013, your broker will send you a Form 1099-B (or substitute statement) that shows your basis. Tax planning us 1040x This will help you complete Form 8949. Tax planning us 1040x Generally, a covered security is a security you acquired after 2010, with certain exceptions explained in the Instructions for Form 8949. Tax planning us 1040x    For more information on Form 8949 and Schedule D (Form 1040), see Reporting Capital Gains and Losses in this chapter. Tax planning us 1040x Also see the Instructions for Form 8949 and the Instructions for Schedule D (Form 1040). Tax planning us 1040x Nominees. Tax planning us 1040x   If someone receives gross proceeds as a nominee for you, that person will give you a Form 1099-B, which will show gross proceeds received on your behalf. Tax planning us 1040x   If you receive a Form 1099-B that includes gross proceeds belonging to another person, see Nominees , later under Reporting Capital Gains and Losses for more information. Tax planning us 1040x Other property transactions. Tax planning us 1040x   Certain transfers of property are discussed in other IRS publications. Tax planning us 1040x These include: Sale of your main home, discussed in Publication 523, Selling Your Home; Installment sales, covered in Publication 537; Various types of transactions involving business property, discussed in Publication 544, Sales and Other Dispositions of Assets; Transfers of property at death, covered in Publication 559; and Disposition of an interest in a passive activity, discussed in Publication 925. Tax planning us 1040x Topics - This chapter discusses: What Is a Sale or Trade? , Basis of Investment Property , Adjusted Basis , How To Figure Gain or Loss , Nontaxable trades , Transfers Between Spouses , Related Party Transactions , Capital Gains and Losses , Reporting Capital Gains and Losses , and Special Rules for Traders in Securities . Tax planning us 1040x Useful Items - You may want to see: Publication 551 Basis of Assets Form (and Instructions) Schedule D (Form 1040) Capital Gains and Losses 6781 Gains and Losses From Section 1256 Contracts and Straddles 8582 Passive Activity Loss Limitations 8824 Like-Kind Exchanges 8949 Sales and Other Dispositions of Capital Assets See chapter 5, How To Get Tax Help , for information about getting these publications and forms. Tax planning us 1040x What Is a Sale or Trade? This section explains what is a sale or trade. Tax planning us 1040x It also explains certain transactions and events that are treated as sales or trades. Tax planning us 1040x A sale is generally a transfer of property for money or a mortgage, note, or other promise to pay money. Tax planning us 1040x A trade is a transfer of property for other property or services, and may be taxed in the same way as a sale. Tax planning us 1040x Sale and purchase. Tax planning us 1040x   Ordinarily, a transaction is not a trade when you voluntarily sell property for cash and immediately buy similar property to replace it. Tax planning us 1040x The sale and purchase are two separate transactions. Tax planning us 1040x But see Like-Kind Exchanges under Nontaxable Trades, later. Tax planning us 1040x Redemption of stock. Tax planning us 1040x   A redemption of stock is treated as a sale or trade and is subject to the capital gain or loss provisions unless the redemption is a dividend or other distribution on stock. Tax planning us 1040x Dividend versus sale or trade. Tax planning us 1040x   Whether a redemption is treated as a sale, trade, dividend, or other distribution depends on the circumstances in each case. Tax planning us 1040x Both direct and indirect ownership of stock will be considered. Tax planning us 1040x The redemption is treated as a sale or trade of stock if: The redemption is not essentially equivalent to a dividend — see Dividends and Other Distributions in chapter 1, There is a substantially disproportionate redemption of stock, There is a complete redemption of all the stock of the corporation owned by the shareholder, or The redemption is a distribution in partial liquidation of a corporation. Tax planning us 1040x Redemption or retirement of bonds. Tax planning us 1040x   A redemption or retirement of bonds or notes at their maturity generally is treated as a sale or trade. Tax planning us 1040x See Stocks, stock rights, and bonds and Discounted Debt Instruments under Capital or Ordinary Gain or Loss, later. Tax planning us 1040x   In addition, a significant modification of a bond is treated as a trade of the original bond for a new bond. Tax planning us 1040x For details, see Regulations section 1. Tax planning us 1040x 1001-3. Tax planning us 1040x Surrender of stock. Tax planning us 1040x   A surrender of stock by a dominant shareholder who retains ownership of more than half of the corporation's voting shares is treated as a contribution to capital rather than as an immediate loss deductible from taxable income. Tax planning us 1040x The surrendering shareholder must reallocate his or her basis in the surrendered shares to the shares he or she retains. Tax planning us 1040x Trade of investment property for an annuity. Tax planning us 1040x   The transfer of investment property to a corporation, trust, fund, foundation, or other organization, in exchange for a fixed annuity contract that will make guaranteed annual payments to you for life, is a taxable trade. Tax planning us 1040x If the present value of the annuity is more than your basis in the property traded, you have a taxable gain in the year of the trade. Tax planning us 1040x Figure the present value of the annuity according to factors used by commercial insurance companies issuing annuities. Tax planning us 1040x Transfer by inheritance. Tax planning us 1040x   The transfer of property of a decedent to the executor or administrator of the estate, or to the heirs or beneficiaries, is not a sale or other disposition. Tax planning us 1040x No taxable gain or deductible loss results from the transfer. Tax planning us 1040x Termination of certain rights and obligations. Tax planning us 1040x   The cancellation, lapse, expiration, or other termination of a right or obligation (other than a securities futures contract) with respect to property that is a capital asset (or that would be a capital asset if you acquired it) is treated as a sale. Tax planning us 1040x Any gain or loss is treated as a capital gain or loss. Tax planning us 1040x   This rule does not apply to the retirement of a debt instrument. Tax planning us 1040x See Redemption or retirement of bonds , earlier. Tax planning us 1040x Worthless Securities Stocks, stock rights, and bonds (other than those held for sale by a securities dealer) that became completely worthless during the tax year are treated as though they were sold on the last day of the tax year. Tax planning us 1040x This affects whether your capital loss is long term or short term. Tax planning us 1040x See Holding Period , later. Tax planning us 1040x Worthless securities also include securities that you abandon after March 12, 2008. Tax planning us 1040x To abandon a security, you must permanently surrender and relinquish all rights in the security and receive no consideration in exchange for it. Tax planning us 1040x All the facts and circumstances determine whether the transaction is properly characterized as an abandonment or other type of transaction, such as an actual sale or exchange, contribution to capital, dividend, or gift. Tax planning us 1040x If you are a cash basis taxpayer and make payments on a negotiable promissory note that you issued for stock that became worthless, you can deduct these payments as losses in the years you actually make the payments. Tax planning us 1040x Do not deduct them in the year the stock became worthless. Tax planning us 1040x How to report loss. Tax planning us 1040x   Report worthless securities in Form 8949, Part I or Part II, whichever applies. Tax planning us 1040x    Report your worthless securities transactions on Form 8949 with the correct box checked for these transactions. Tax planning us 1040x See Form 8949 and the Instructions for Form 8949. Tax planning us 1040x Filing a claim for refund. Tax planning us 1040x   If you do not claim a loss for a worthless security on your original return for the year it becomes worthless, you can file a claim for a credit or refund due to the loss. Tax planning us 1040x You must use Form 1040X, Amended U. Tax planning us 1040x S. Tax planning us 1040x Individual Income Tax Return, to amend your return for the year the security became worthless. Tax planning us 1040x You must file it within 7 years from the date your original return for that year had to be filed, or 2 years from the date you paid the tax, whichever is later. Tax planning us 1040x (Claims not due to worthless securities or bad debts generally must be filed within 3 years from the date a return is filed, or 2 years from the date the tax is paid, whichever is later. Tax planning us 1040x ) For more information about filing a claim, see Publication 556. Tax planning us 1040x Constructive Sales of Appreciated Financial Positions You are treated as having made a constructive sale when you enter into certain transactions involving an appreciated financial position (defined later) in stock, a partnership interest, or certain debt instruments. Tax planning us 1040x You must recognize gain as if the position were disposed of at its fair market value on the date of the constructive sale. Tax planning us 1040x This gives you a new holding period for the position that begins on the date of the constructive sale. Tax planning us 1040x Then, when you close the transaction, you reduce your gain (or increase your loss) by the gain recognized on the constructive sale. Tax planning us 1040x Constructive sale. Tax planning us 1040x   You are treated as having made a constructive sale of an appreciated financial position if you: Enter into a short sale of the same or substantially identical property, Enter into an offsetting notional principal contract relating to the same or substantially identical property, Enter into a futures or forward contract to deliver the same or substantially identical property (including a forward contract that provides for cash settlement), or Acquire the same or substantially identical property (if the appreciated financial position is a short sale, an offsetting notional principal contract, or a futures or forward contract). Tax planning us 1040x   You are also treated as having made a constructive sale of an appreciated financial position if a person related to you enters into a transaction described above with a view toward avoiding the constructive sale treatment. Tax planning us 1040x For this purpose, a related person is any related party described under Related Party Transactions , later in this chapter. Tax planning us 1040x Exception for nonmarketable securities. Tax planning us 1040x   You are not treated as having made a constructive sale solely because you entered into a contract for sale of any stock, debt instrument, or partnership interest that is not a marketable security if it settles within 1 year of the date you enter into it. Tax planning us 1040x Exception for certain closed transactions. Tax planning us 1040x   Do not treat a transaction as a constructive sale if all of the following are true. Tax planning us 1040x You closed the transaction on or before the 30th day after the end of your tax year. Tax planning us 1040x You held the appreciated financial position throughout the 60-day period beginning on the date you closed the transaction. Tax planning us 1040x Your risk of loss was not reduced at any time during that 60-day period by holding certain other positions. Tax planning us 1040x   If a closed transaction is reestablished in a substantially similar position during the 60-day period beginning on the date the first transaction was closed, this exception still applies if the reestablished position is closed before the 30th day after the end of your tax year in which the first transaction was closed and, after that closing, (2) and (3) above are true. Tax planning us 1040x   This exception also applies to successive short sales of an entire appreciated financial position. Tax planning us 1040x For more information, see Revenue Ruling 2003-1 in Internal Revenue Bulletin 2003-3. Tax planning us 1040x This bulletin is available at www. Tax planning us 1040x irs. Tax planning us 1040x gov/pub/irs-irbs/irb03-03. Tax planning us 1040x pdf. Tax planning us 1040x Appreciated financial position. Tax planning us 1040x   This is any interest in stock, a partnership interest, or a debt instrument (including a futures or forward contract, a short sale, or an option) if disposing of the interest would result in a gain. Tax planning us 1040x Exceptions. Tax planning us 1040x   An appreciated financial position does not include the following. Tax planning us 1040x Any position from which all of the appreciation is accounted for under marked-to-market rules, including section 1256 contracts (described later under Section 1256 Contracts Marked to Market ). Tax planning us 1040x Any position in a debt instrument if: The position unconditionally entitles the holder to receive a specified principal amount, The interest payments (or other similar amounts) with respect to the position are payable at a fixed rate or a variable rate described in Regulations section 1. Tax planning us 1040x 860G-1(a)(3), and The position is not convertible, either directly or indirectly, into stock of the issuer (or any related person). Tax planning us 1040x Any hedge with respect to a position described in (2). Tax planning us 1040x Certain trust instruments treated as stock. Tax planning us 1040x   For the constructive sale rules, an interest in an actively traded trust is treated as stock unless substantially all of the value of the property held by the trust is debt that qualifies for the exception to the definition of an appreciated financial position (explained in (2) above). Tax planning us 1040x Sale of appreciated financial position. Tax planning us 1040x   A transaction treated as a constructive sale of an appreciated financial position is not treated as a constructive sale of any other appreciated financial position, as long as you continue to hold the original position. Tax planning us 1040x However, if you hold another appreciated financial position and dispose of the original position before closing the transaction that resulted in the constructive sale, you are treated as if, at the same time, you constructively sold the other appreciated financial position. Tax planning us 1040x Section 1256 Contracts Marked to Market If you hold a section 1256 contract at the end of the tax year, you generally must treat it as sold at its fair market value on the last business day of the tax year. Tax planning us 1040x Section 1256 Contract A section 1256 contract is any: Regulated futures contract, Foreign currency contract, Nonequity option, Dealer equity option, or Dealer securities futures contract. Tax planning us 1040x Exceptions. Tax planning us 1040x   A section 1256 contract does not include: Interest rate swaps, Currency swaps, Basis swaps, Interest rate caps, Interest rate floors, Commodity swaps, Equity swaps, Equity index swaps, Credit default swaps, or Similar agreements. Tax planning us 1040x For more details, including definitions of these terms, see section 1256. Tax planning us 1040x Regulated futures contract. Tax planning us 1040x   This is a contract that: Provides that amounts which must be deposited to, or can be withdrawn from, your margin account depend on daily market conditions (a system of marking to market), and Is traded on, or subject to the rules of, a qualified board of exchange. Tax planning us 1040x A qualified board of exchange is a domestic board of trade designated as a contract market by the Commodity Futures Trading Commission, any board of trade or exchange approved by the Secretary of the Treasury, or a national securities exchange registered with the Securities and Exchange Commission. Tax planning us 1040x Foreign currency contract. Tax planning us 1040x   This is a contract that: Requires delivery of a foreign currency that has positions traded through regulated futures contracts (or settlement of which depends on the value of that type of foreign currency), Is traded in the interbank market, and Is entered into at arm's length at a price determined by reference to the price in the interbank market. Tax planning us 1040x   Bank forward contracts with maturity dates longer than the maturities ordinarily available for regulated futures contracts are considered to meet the definition of a foreign currency contract if the above three conditions are satisfied. Tax planning us 1040x   Special rules apply to certain foreign currency transactions. Tax planning us 1040x These transactions may result in ordinary gain or loss treatment. Tax planning us 1040x For details, see Internal Revenue Code section 988 and Regulations sections 1. Tax planning us 1040x 988-1(a)(7) and 1. Tax planning us 1040x 988-3. Tax planning us 1040x Nonequity option. Tax planning us 1040x   This is any listed option (defined later) that is not an equity option. Tax planning us 1040x Nonequity options include debt options, commodity futures options, currency options, and broad-based stock index options. Tax planning us 1040x A broad-based stock index is based on the value of a group of diversified stocks or securities (such as the Standard and Poor's 500 index). Tax planning us 1040x Warrants based on a stock index that are economically, substantially identical in all material respects to options based on a stock index are treated as options based on a stock index. Tax planning us 1040x Cash-settled options. Tax planning us 1040x   Cash-settled options based on a stock index and either traded on or subject to the rules of a qualified board of exchange are nonequity options if the Securities and Exchange Commission (SEC) determines that the stock index is broad based. Tax planning us 1040x   This rule does not apply to options established before the SEC determines that the stock index is broad based. Tax planning us 1040x Listed option. Tax planning us 1040x   This is any option traded on, or subject to the rules of, a qualified board or exchange (as discussed earlier under Regulated futures contract). Tax planning us 1040x A listed option, however, does not include an option that is a right to acquire stock from the issuer. Tax planning us 1040x Dealer equity option. Tax planning us 1040x   This is any listed option that, for an options dealer: Is an equity option, Is bought or granted by that dealer in the normal course of the dealer's business activity of dealing in options, and Is listed on the qualified board of exchange where that dealer is registered. Tax planning us 1040x   An “options dealer” is any person registered with an appropriate national securities exchange as a market maker or specialist in listed options. Tax planning us 1040x Equity option. Tax planning us 1040x   This is any option: To buy or sell stock, or That is valued directly or indirectly by reference to any stock or narrow-based security index. Tax planning us 1040x  Equity options include options on a group of stocks only if the group is a narrow-based stock index. Tax planning us 1040x Dealer securities futures contract. Tax planning us 1040x   For any dealer in securities futures contracts or options on those contracts, this is a securities futures contract (or option on such a contract) that: Is entered into by the dealer (or, in the case of an option, is purchased or granted by the dealer) in the normal course of the dealer's activity of dealing in this type of contract (or option), and Is traded on a qualified board or exchange (as defined under Regulated futures contract , earlier). Tax planning us 1040x A securities futures contract that is not a dealer securities futures contract is treated as described later under Securities Futures Contracts . Tax planning us 1040x Marked-to-Market Rules A section 1256 contract that you hold at the end of the tax year will generally be treated as sold at its fair market value on the last business day of the tax year, and you must recognize any gain or loss that results. Tax planning us 1040x That gain or loss is taken into account in figuring your gain or loss when you later dispose of the contract, as shown in the example under 60/40 rule, below. Tax planning us 1040x Hedging exception. Tax planning us 1040x   The marked-to-market rules do not apply to hedging transactions. Tax planning us 1040x See Hedging Transactions , later. Tax planning us 1040x 60/40 rule. Tax planning us 1040x   Under the marked-to-market system, 60% of your capital gain or loss will be treated as a long-term capital gain or loss, and 40% will be treated as a short-term capital gain or loss. Tax planning us 1040x This is true regardless of how long you actually held the property. Tax planning us 1040x Example. Tax planning us 1040x On June 22, 2012, you bought a regulated futures contract for $50,000. Tax planning us 1040x On December 31, 2012 (the last business day of your tax year), the fair market value of the contract was $57,000. Tax planning us 1040x You recognized a $7,000 gain on your 2012 tax return, treated as 60% long-term and 40% short-term capital gain. Tax planning us 1040x On February 1, 2013, you sold the contract for $56,000. Tax planning us 1040x Because you recognized a $7,000 gain on your 2012 return, you recognize a $1,000 loss ($57,000 − $56,000) on your 2013 tax return, treated as 60% long-term and 40% short-term capital loss. Tax planning us 1040x Limited partners or entrepreneurs. Tax planning us 1040x   The 60/40 rule does not apply to dealer equity options or dealer securities futures contracts that result in capital gain or loss allocable to limited partners or limited entrepreneurs (defined later under Hedging Transactions ). Tax planning us 1040x Instead, these gains or losses are treated as short term. Tax planning us 1040x Terminations and transfers. Tax planning us 1040x   The marked-to-market rules also apply if your obligation or rights under section 1256 contracts are terminated or transferred during the tax year. Tax planning us 1040x In this case, use the fair market value of each section 1256 contract at the time of termination or transfer to determine the gain or loss. Tax planning us 1040x Terminations or transfers may result from any offsetting, delivery, exercise, assignment, or lapse of your obligation or rights under section 1256 contracts. Tax planning us 1040x Loss carryback election. Tax planning us 1040x   An individual having a net section 1256 contracts loss (defined later), generally can elect to carry this loss back 3 years instead of carrying it over to the next year. Tax planning us 1040x See How To Report , later, for information about reporting this election on your return. Tax planning us 1040x   The loss carried back to any year under this election cannot be more than the net section 1256 contracts gain in that year. Tax planning us 1040x In addition, the amount of loss carried back to an earlier tax year cannot increase or produce a net operating loss for that year. Tax planning us 1040x   The loss is carried to the earliest carryback year first, and any unabsorbed loss amount can then be carried to each of the next 2 tax years. Tax planning us 1040x In each carryback year, treat 60% of the carryback amount as a long-term capital loss and 40% as a short-term capital loss from section 1256 contracts. Tax planning us 1040x   If only a portion of the net section 1256 contracts loss is absorbed by carrying the loss back, the unabsorbed portion can be carried forward, under the capital loss carryover rules, to the year following the loss. Tax planning us 1040x (See Capital Losses under Reporting Capital Gains and Losses, later. Tax planning us 1040x ) Figure your capital loss carryover as if, for the loss year, you had an additional short-term capital gain of 40% of the amount of net section 1256 contracts loss absorbed in the carryback years and an additional long-term capital gain of 60% of the absorbed loss. Tax planning us 1040x In the carryover year, treat any capital loss carryover from losses on section 1256 contracts as if it were a loss from section 1256 contracts for that year. Tax planning us 1040x Net section 1256 contracts loss. Tax planning us 1040x   This loss is the lesser of: The net capital loss for your tax year determined by taking into account only the gains and losses from section 1256 contracts, or The capital loss carryover to the next tax year determined without this election. Tax planning us 1040x Net section 1256 contracts gain. Tax planning us 1040x   This gain is the lesser of: The capital gain net income for the carryback year determined by taking into account only gains and losses from section 1256 contracts, or The capital gain net income for that year. Tax planning us 1040x  Figure your net section 1256 contracts gain for any carryback year without regard to the net section 1256 contracts loss for the loss year or any later tax year. Tax planning us 1040x Traders in section 1256 contracts. Tax planning us 1040x   Gain or loss from the trading of section 1256 contracts is capital gain or loss subject to the marked-to-market rules. Tax planning us 1040x However, this does not apply to contracts held for purposes of hedging property if any loss from the property would be an ordinary loss. Tax planning us 1040x Treatment of underlying property. Tax planning us 1040x   The determination of whether an individual's gain or loss from any property is ordinary or capital gain or loss is made without regard to the fact that the individual is actively engaged in dealing in or trading section 1256 contracts related to that property. Tax planning us 1040x How To Report If you disposed of regulated futures or foreign currency contracts in 2013 (or had unrealized profit or loss on these contracts that were open at the end of 2012 or 2013), you should receive Form 1099-B, or substitute statement, from your broker. Tax planning us 1040x Form 6781. Tax planning us 1040x   Use Part I of Form 6781 to report your gains and losses from all section 1256 contracts that are open at the end of the year or that were closed out during the year. Tax planning us 1040x This includes the amount shown in box 10 of Form 1099-B. Tax planning us 1040x Then enter the net amount of these gains and losses on Schedule D (Form 1040), line 4 or line 11, as appropriate. Tax planning us 1040x Include a copy of Form 6781 with your income tax return. Tax planning us 1040x   If the Form 1099-B you receive includes a straddle or hedging transaction, defined later, it may be necessary to show certain adjustments on Form 6781. Tax planning us 1040x Follow the Form 6781 instructions for completing Part I. Tax planning us 1040x Loss carryback election. Tax planning us 1040x   To carry back your loss under the election procedures described earlier, file Form 1040X or Form 1045, Application for Tentative Refund, for the year to which you are carrying the loss with an amended Form 6781 and an amended Schedule D (Form 1040) attached. Tax planning us 1040x Follow the instructions for completing Form 6781 for the loss year to make this election. Tax planning us 1040x Hedging Transactions The marked-to-market rules, described earlier, do not apply to hedging transactions. Tax planning us 1040x A transaction is a hedging transaction if both of the following conditions are met. Tax planning us 1040x You entered into the transaction in the normal course of your trade or business primarily to manage the risk of: Price changes or currency fluctuations on ordinary property you hold (or will hold), or Interest rate or price changes, or currency fluctuations, on your current or future borrowings or ordinary obligations. Tax planning us 1040x You clearly identified the transaction as being a hedging transaction before the close of the day on which you entered into it. Tax planning us 1040x This hedging transaction exception does not apply to transactions entered into by or for any syndicate. Tax planning us 1040x A syndicate is a partnership, S corporation, or other entity (other than a regular corporation) that allocates more than 35% of its losses to limited partners or limited entrepreneurs. Tax planning us 1040x A limited entrepreneur is a person who has an interest in an enterprise (but not as a limited partner) and who does not actively participate in its management. Tax planning us 1040x However, an interest is not considered held by a limited partner or entrepreneur if the interest holder actively participates (or did so for at least 5 full years) in the management of the entity, or is the spouse, child (including a legally adopted child), grandchild, or parent of an individual who actively participates in the management of the entity. Tax planning us 1040x Hedging loss limit. Tax planning us 1040x   If you are a limited partner or entrepreneur in a syndicate, the amount of a hedging loss you can claim is limited. Tax planning us 1040x A “hedging loss” is the amount by which the allowable deductions in a tax year that resulted from a hedging transaction (determined without regard to the limit) are more than the income received or accrued during the tax year from this transaction. Tax planning us 1040x   Any hedging loss allocated to you for the tax year is limited to your taxable income for that year from the trade or business in which the hedging transaction occurred. Tax planning us 1040x Ignore any hedging transaction items in determining this taxable income. Tax planning us 1040x If you have a hedging loss that is disallowed because of this limit, you can carry it over to the next tax year as a deduction resulting from a hedging transaction. Tax planning us 1040x   If the hedging transaction relates to property other than stock or securities, the limit on hedging losses applies if the limited partner or entrepreneur is an individual. Tax planning us 1040x   The limit on hedging losses does not apply to any hedging loss to the extent that it is more than all your unrecognized gains from hedging transactions at the end of the tax year that are from the trade or business in which the hedging transaction occurred. Tax planning us 1040x The term “unrecognized gain” has the same meaning as defined under Loss Deferral Rules in Straddles, later. Tax planning us 1040x Sale of property used in a hedge. Tax planning us 1040x   Once you identify personal property as being part of a hedging transaction, you must treat gain from its sale or exchange as ordinary income, not capital gain. Tax planning us 1040x Self-Employment Income Gains and losses derived in the ordinary course of a commodity or option dealer's trading in section 1256 contracts and property related to these contracts are included in net earnings from self-employment. Tax planning us 1040x See the Instructions for Schedule SE (Form 1040). Tax planning us 1040x In addition, the rules relating to contributions to self-employment retirement plans apply. Tax planning us 1040x For information on retirement plan contributions, see Publication 560 and Publication 590. Tax planning us 1040x Basis of Investment Property Basis is a way of measuring your investment in property for tax purposes. Tax planning us 1040x You must know the basis of your property to determine whether you have a gain or loss on its sale or other disposition. Tax planning us 1040x Investment property you buy normally has an original basis equal to its cost. Tax planning us 1040x If you get property in some way other than buying it, such as by gift or inheritance, its fair market value may be important in figuring the basis. Tax planning us 1040x Cost Basis The basis of property you buy is usually its cost. Tax planning us 1040x The cost is the amount you pay in cash, debt obligations, or other property or services. Tax planning us 1040x Unstated interest. Tax planning us 1040x   If you buy property on a time-payment plan that charges little or no interest, the basis of your property is your stated purchase price, minus the amount considered to be unstated interest. Tax planning us 1040x You generally have unstated interest if your interest rate is less than the applicable federal rate. Tax planning us 1040x For more information, see Unstated Interest and Original Issue Discount (OID) in Publication 537. Tax planning us 1040x Basis Other Than Cost There are times when you must use a basis other than cost. Tax planning us 1040x In these cases, you may need to know the property's fair market value or the adjusted basis of the previous owner. Tax planning us 1040x Fair market value. Tax planning us 1040x   This is the price at which the property would change hands between a buyer and a seller, neither being forced to buy or sell and both having reasonable knowledge of all the relevant facts. Tax planning us 1040x Sales of similar property, around the same date, may be helpful in figuring fair market value. Tax planning us 1040x Property Received for Services If you receive investment property for services, you must include the property's fair market value in income. Tax planning us 1040x The amount you include in income then becomes your basis in the property. Tax planning us 1040x If the services were performed for a price that was agreed to beforehand, this price will be accepted as the fair market value of the property if there is no evidence to the contrary. Tax planning us 1040x Restricted property. Tax planning us 1040x   If you receive, as payment for services, property that is subject to certain restrictions, your basis in the property generally is its fair market value when it becomes substantially vested. Tax planning us 1040x Property becomes substantially vested when it is transferable or is no longer subject to substantial risk of forfeiture, whichever happens first. Tax planning us 1040x See Restricted Property in Publication 525 for more information. Tax planning us 1040x Bargain purchases. Tax planning us 1040x   If you buy investment property at less than fair market value, as payment for services, you must include the difference in income. Tax planning us 1040x Your basis in the property is the price you pay plus the amount you include in income. Tax planning us 1040x Property Received in Taxable Trades If you received investment property in trade for other property, the basis of the new property is its fair market value at the time of the trade unless you received the property in a nontaxable trade. Tax planning us 1040x Example. Tax planning us 1040x You trade A Company stock for B Company stock having a fair market value of $1,200. Tax planning us 1040x If the adjusted basis of the A Company stock is less than $1,200, you have a taxable gain on the trade. Tax planning us 1040x If the adjusted basis of the A Company stock is more than $1,200, you have a deductible loss on the trade. Tax planning us 1040x The basis of your B Company stock is $1,200. Tax planning us 1040x If you later sell the B Company stock for $1,300, you will have a gain of $100. Tax planning us 1040x Property Received in Nontaxable Trades If you have a nontaxable trade, you do not recognize gain or loss until you dispose of the property you received in the trade. Tax planning us 1040x See Nontaxable Trades , later. Tax planning us 1040x The basis of property you received in a nontaxable or partly nontaxable trade is generally the same as the adjusted basis of the property you gave up. Tax planning us 1040x Increase this amount by any cash you paid, additional costs you had, and any gain recognized. Tax planning us 1040x Reduce this amount by any cash or unlike property you received, any loss recognized, and any liability of yours that was assumed or treated as assumed. Tax planning us 1040x Property Received From Your Spouse If property is transferred to you from your spouse (or former spouse, if the transfer is incident to your divorce), your basis is the same as your spouse's or former spouse's adjusted basis just before the transfer. Tax planning us 1040x See Transfers Between Spouses , later. Tax planning us 1040x Recordkeeping. Tax planning us 1040x The transferor must give you the records necessary to determine the adjusted basis and holding period of the property as of the date of the transfer. Tax planning us 1040x Property Received as a Gift To figure your basis in property that you received as a gift, you must know its adjusted basis to the donor just before it was given to you, its fair market value at the time it was given to you, the amount of any gift tax paid on it, and the date it was given to you. Tax planning us 1040x Fair market value less than donor's adjusted basis. Tax planning us 1040x   If the fair market value of the property at the time of the gift was less than the donor's adjusted basis just before the gift, your basis for gain on its sale or other disposition is the same as the donor's adjusted basis plus or minus any required adjustments to basis during the period you hold the property. Tax planning us 1040x Your basis for loss is its fair market value at the time of the gift plus or minus any required adjustments to basis during the period you hold the property. Tax planning us 1040x No gain or loss. Tax planning us 1040x   If you use the basis for figuring a gain and the result is a loss, and then use the basis for figuring a loss and the result is a gain, you will have neither a gain nor a loss. Tax planning us 1040x Example. Tax planning us 1040x You receive a gift of investment property having an adjusted basis of $10,000 at the time of the gift. Tax planning us 1040x The fair market value at the time of the gift is $9,000. Tax planning us 1040x You later sell the property for $9,500. Tax planning us 1040x You have neither gain nor loss. Tax planning us 1040x Your basis for figuring gain is $10,000, and $9,500 minus $10,000 results in a $500 loss. Tax planning us 1040x Your basis for figuring loss is $9,000, and $9,500 minus $9,000 results in a $500 gain. Tax planning us 1040x Fair market value equal to or more than donor's adjusted basis. Tax planning us 1040x   If the fair market value of the property at the time of the gift was equal to or more than the donor's adjusted basis just before the gift, your basis for gain or loss on its sale or other disposition is the donor's adjusted basis plus or minus any required adjustments to basis during the period you hold the property. Tax planning us 1040x Also, you may be allowed to add to the donor's adjusted basis all or part of any gift tax paid, depending on the date of the gift. Tax planning us 1040x Gift received before 1977. Tax planning us 1040x   If you received property as a gift before 1977, your basis in the property is the donor's adjusted basis increased by the total gift tax paid on the gift. Tax planning us 1040x However, your basis cannot be more than the fair market value of the gift at the time it was given to you. Tax planning us 1040x Example 1. Tax planning us 1040x You were given XYZ Company stock in 1976. Tax planning us 1040x At the time of the gift, the stock had a fair market value of $21,000. Tax planning us 1040x The donor's adjusted basis was $20,000. Tax planning us 1040x The donor paid a gift tax of $500 on the gift. Tax planning us 1040x Your basis for gain or loss is $20,500, the donor's adjusted basis plus the amount of gift tax paid. Tax planning us 1040x Example 2. Tax planning us 1040x The facts are the same as in Example 1 except that the gift tax paid was $1,500. Tax planning us 1040x Your basis is $21,000, the donor's adjusted basis plus the gift tax paid, but limited to the fair market value of the stock at the time of the gift. Tax planning us 1040x Gift received after 1976. Tax planning us 1040x   If you received property as a gift after 1976, your basis is the donor's adjusted basis increased by the part of the gift tax paid that was for the net increase in value of the gift. Tax planning us 1040x You figure this part by multiplying the gift tax paid on the gift by a fraction. Tax planning us 1040x The numerator (top part) is the net increase in value of the gift and the denominator (bottom part) is the amount of the gift. Tax planning us 1040x   The net increase in value of the gift is the fair market value of the gift minus the donor's adjusted basis. Tax planning us 1040x The amount of the gift is its value for gift tax purposes after reduction by any annual exclusion and marital or charitable deduction that applies to the gift. Tax planning us 1040x Example. Tax planning us 1040x In 2013, you received a gift of property from your mother. Tax planning us 1040x At the time of the gift, the property had a fair market value of $101,000 and an adjusted basis to her of $40,000. Tax planning us 1040x The amount of the gift for gift tax purposes was $87,000 ($101,000 minus the $14,000 annual exclusion), and your mother paid a gift tax of $21,000. Tax planning us 1040x You figure your basis in the following way: Fair market value $101,000 Minus: Adjusted basis 40,000 Net increase in value of gift $61,000 Gift tax paid $21,000 Multiplied by . Tax planning us 1040x 701 ($61,000 ÷ $87,000) . Tax planning us 1040x 701 Gift tax due to net increase in value $14,721 Plus: Adjusted basis of property to  your mother 40,000 Your basis in the property $54,721 Part sale, part gift. Tax planning us 1040x   If you get property in a transfer that is partly a sale and partly a gift, your basis is the larger of the amount you paid for the property or the transferor's adjusted basis in the property at the time of the transfer. Tax planning us 1040x Add to that amount the amount of any gift tax paid on the gift, as described in the preceding discussion. Tax planning us 1040x For figuring loss, your basis is limited to the property's fair market value at the time of the transfer. Tax planning us 1040x Gift tax information. Tax planning us 1040x   For information on gift tax, see Publication 950, Introduction to Estate and Gift Taxes. Tax planning us 1040x For information on figuring the amount of gift tax to add to your basis, see Property Received as a Gift in Publication 551. Tax planning us 1040x Property Received as Inheritance Before or after 2010. Tax planning us 1040x   If you inherited property from a decedent who died before or after 2010, or who died in 2010 and the executor of the decedent's estate elected not to file Form 8939, Allocation of Increase in Basis for Property Acquired From a Decedent, your basis in that property generally is its fair market value (its appraised value on Form 706, United States Estate (and Generation-Skipping Transfer) Tax Return) on: The date of the decedent's death, or The later alternate valuation date if the estate qualifies for, and elects to use, alternate valuation. Tax planning us 1040x If no Form 706 was filed, use the appraised value on the date of death for state inheritance or transmission taxes. Tax planning us 1040x For stocks and bonds, if no Form 706 was filed and there are no state inheritance or transmission taxes, see the Form 706 instructions for figuring the fair market value of the stocks and bonds on the date of the decedent's death. Tax planning us 1040x Appreciated property you gave the decedent. Tax planning us 1040x   Your basis in certain appreciated property that you inherited is the decedent's adjusted basis in the property immediately before death rather than its fair market value. Tax planning us 1040x This applies to appreciated property that you or your spouse gave the decedent as a gift during the 1-year period ending on the date of death. Tax planning us 1040x Appreciated property is any property whose fair market value on the day you gave it to the decedent was more than its adjusted basis. Tax planning us 1040x More information. Tax planning us 1040x   See Publication 551 for more information on the basis of inherited property, including community property, property held by a surviving tenant in a joint tenancy or tenancy by the entirety, a qualified joint interest, and a farm or closely held business. Tax planning us 1040x Inherited in 2010 and executor elected to file Form 8939. Tax planning us 1040x   If you inherited property from a decedent who died in 2010 and the executor made the election to file Form 8939, see Publication 4895, Tax Treatment of Property Acquired From a Decedent Dying in 2010, to figure your basis. Tax planning us 1040x Adjusted Basis Before you can figure any gain or loss on a sale, exchange, or other disposition of property or figure allowable depreciation, depletion, or amortization, you usually must make certain adjustments (increases and decreases) to the basis of the property. Tax planning us 1040x The result of these adjustments to the basis is the adjusted basis. Tax planning us 1040x Adjustments to the basis of stocks and bonds are explained in the following discussion. Tax planning us 1040x For information about other adjustments to basis, see Publication 551. Tax planning us 1040x Stocks and Bonds The basis of stocks or bonds you own generally is the purchase price plus the costs of purchase, such as commissions and recording or transfer fees. Tax planning us 1040x If you acquired stock or bonds other than by purchase, your basis is usually determined by fair market value or the previous owner's adjusted basis as discussed earlier under Basis Other Than Cost . Tax planning us 1040x The basis of stock must be adjusted for certain events that occur after purchase. Tax planning us 1040x For example, if you receive more stock from nontaxable stock dividends or stock splits, you must reduce the basis of your original stock. Tax planning us 1040x You must also reduce your basis when you receive nondividend distributions (discussed in chapter 1). Tax planning us 1040x These distributions, up to the amount of your basis, are a nontaxable return of capital. Tax planning us 1040x The IRS partners with companies that offer Form 8949 and Schedule D (Form 1040) software that can import trades from many brokerage firms and accounting software to help you keep track of your adjusted basis in securities. Tax planning us 1040x To find out more, go to www. Tax planning us 1040x irs. Tax planning us 1040x gov/Filing/Filing-Options. Tax planning us 1040x Identifying stock or bonds sold. Tax planning us 1040x   If you can adequately identify the shares of stock or the bonds you sold, their basis is the cost or other basis of the particular shares of stock or bonds. Tax planning us 1040x Adequate identification. Tax planning us 1040x   You will make an adequate identification if you show that certificates representing shares of stock from a lot that you bought on a certain date or for a certain price were delivered to your broker or other agent. Tax planning us 1040x Broker holds stock. Tax planning us 1040x   If you have left the stock certificates with your broker or other agent, you will make an adequate identification if you: Tell your broker or other agent the particular stock to be sold or transferred at the time of the sale or transfer, and Receive a written confirmation of this from your broker or other agent within a reasonable time. Tax planning us 1040x  Stock identified this way is the stock sold or transferred even if stock certificates from a different lot are delivered to the broker or other agent. Tax planning us 1040x Single stock certificate. Tax planning us 1040x   If you bought stock in different lots at different times and you hold a single stock certificate for this stock, you will make an adequate identification if you: Tell your broker or other agent the particular stock to be sold or transferred when you deliver the certificate to your broker or other agent, and Receive a written confirmation of this from your broker or other agent within a reasonable time. Tax planning us 1040x   If you sell part of the stock represented by a single certificate directly to the buyer instead of through a broker, you will make an adequate identification if you keep a written record of the particular stock that you intend to sell. Tax planning us 1040x Bonds. Tax planning us 1040x   These methods of identification also apply to bonds sold or transferred. Tax planning us 1040x Identification not possible. Tax planning us 1040x   If you buy and sell securities at various times in varying quantities and you cannot adequately identify the shares you sell, the basis of the securities you sell is the basis of the securities you acquired first. Tax planning us 1040x Except for certain mutual fund shares, discussed later, you cannot use the average price per share to figure gain or loss on the sale of the shares. Tax planning us 1040x Example. Tax planning us 1040x You bought 100 shares of stock of XYZ Corporation in 1998 for $10 a share. Tax planning us 1040x In January 1999 you bought another 200 shares for $11 a share. Tax planning us 1040x In July 1999 you gave your son 50 shares. Tax planning us 1040x In December 2001 you bought 100 shares for $9 a share. Tax planning us 1040x In April 2013 you sold 130 shares. Tax planning us 1040x You cannot identify the shares you disposed of, so you must use the stock you acquired first to figure the basis. Tax planning us 1040x The shares of stock you gave your son had a basis of $500 (50 × $10). Tax planning us 1040x You figure the basis of the 130 shares of stock you sold in 2013 as follows: 50 shares (50 × $10) balance of stock bought in 1998 $ 500 80 shares (80 × $11) stock bought in January 1999 880 Total basis of stock sold in 2013 $1,380 Shares in a mutual fund or REIT. Tax planning us 1040x    The basis of shares in a mutual fund (or other regulated investment company) or a real estate investment trust (REIT) is generally figured in the same way as the basis of other stock and usually includes any commissions or load charges paid for the purchase. Tax planning us 1040x Example. Tax planning us 1040x You bought 100 shares of Fund A for $10 a share. Tax planning us 1040x You paid a $50 commission to the broker for the purchase. Tax planning us 1040x Your cost basis for each share is $10. Tax planning us 1040x 50 ($1,050 ÷ 100). Tax planning us 1040x Commissions and load charges. Tax planning us 1040x   The fees and charges you pay to acquire or redeem shares of a mutual fund are not deductible. Tax planning us 1040x You can usually add acquisition fees and charges to your cost of the shares and thereby increase your basis. Tax planning us 1040x A fee paid to redeem the shares is usually a reduction in the redemption price (sales price). Tax planning us 1040x   You cannot add your entire acquisition fee or load charge to the cost of the mutual fund shares acquired if all of the following conditions apply. Tax planning us 1040x You get a reinvestment right because of the purchase of the shares or the payment of the fee or charge. Tax planning us 1040x You dispose of the shares within 90 days of the purchase date. Tax planning us 1040x You acquire new shares in the same mutual fund or another mutual fund, for which the fee or charge is reduced or waived because of the reinvestment right you got when you acquired the original shares. Tax planning us 1040x   The amount of the original fee or charge in excess of the reduction in (3) is added to the cost of the original shares. Tax planning us 1040x The rest of the original fee or charge is added to the cost basis of the new shares (unless all three conditions above also apply to the purchase of the new shares). Tax planning us 1040x Choosing average basis for mutual fund shares. Tax planning us 1040x   You can choose to use the average basis of mutual fund shares if you acquired the identical shares at various times and prices, or you acquired the shares after 2010 in connection with a dividend reinvestment plan, and left them on deposit in an account kept by a custodian or agent. Tax planning us 1040x The methods you can use to figure average basis are explained later. Tax planning us 1040x Undistributed capital gains. Tax planning us 1040x   If you had to include in your income any undistributed capital gains of the mutual fund or REIT, increase your basis in the stock by the difference between the amount you included and the amount of tax paid for you by the fund or REIT. Tax planning us 1040x See Undistributed capital gains of mutual funds and REITs under Capital Gain Distributions in chapter 1. Tax planning us 1040x Reinvestment right. Tax planning us 1040x   This is the right to acquire mutual fund shares in the same or another mutual fund without paying a fee or load charge, or by paying a reduced fee or load charge. Tax planning us 1040x      The original cost basis of mutual fund shares you acquire by reinvesting your distributions is the amount of the distributions used to purchase each full or fractional share. Tax planning us 1040x This rule applies even if the distribution is an exempt-interest dividend that you do not report as income. Tax planning us 1040x Table 4-1. Tax planning us 1040x This is a worksheet you can use to keep track of the adjusted basis of your mutual fund shares. Tax planning us 1040x Enter the cost per share when you acquire new shares and any adjustments to their basis when the adjustment occurs. Tax planning us 1040x This worksheet will help you figure the adjusted basis when you sell or redeem shares. Tax planning us 1040x Table 4-1. Tax planning us 1040x Mutual Fund Record Mutual Fund Acquired1 Adjustment to Basis Per Share Adjusted2 Basis Per Share Sold or redeemed Date Number of Shares Cost Per Share Date Number of Shares                                                                                                                                                                                                                                                                         1 Include share received from reinvestment of distributions. Tax planning us 1040x 2 Cost plus or minus adjustments. Tax planning us 1040x Automatic investment service. Tax planning us 1040x   If you participate in an automatic investment service, your basis for each share of stock, including fractional shares, bought by the bank or other agent is the purchase price plus a share of the broker's commission. Tax planning us 1040x Dividend reinvestment plans. Tax planning us 1040x   If you participate in a dividend reinvestment plan and receive stock from the corporation at a discount, your basis is the full fair market value of the stock on the dividend payment date. Tax planning us 1040x You must include the amount of the discount in your income. Tax planning us 1040x Public utilities. Tax planning us 1040x   If, before 1986, you excluded from income the value of stock you had received under a qualified public utility reinvestment plan, your basis in that stock is zero. Tax planning us 1040x Stock dividends. Tax planning us 1040x   Stock dividends are distributions made by a corporation of its own stock. Tax planning us 1040x Generally, stock dividends are not taxable to you. Tax planning us 1040x However, see Distributions of Stock and Stock Rights under Dividends and Other Distributions in chapter 1 for some exceptions. Tax planning us 1040x If the stock dividends are not taxable, you must divide your basis for the old stock between the old and new stock. Tax planning us 1040x New and old stock identical. Tax planning us 1040x   If the new stock you received as a nontaxable dividend is identical to the old stock on which the dividend was declared, divide the adjusted basis of the old stock by the number of shares of old and new stock. Tax planning us 1040x The result is your basis for each share of stock. Tax planning us 1040x Example 1. Tax planning us 1040x You owned one share of common stock that you bought for $45. Tax planning us 1040x The corporation distributed two new shares of common stock for each share held. Tax planning us 1040x You then had three shares of common stock. Tax planning us 1040x Your basis in each share is $15 ($45 ÷ 3). Tax planning us 1040x Example 2. Tax planning us 1040x You owned two shares of common stock. Tax planning us 1040x You bought one for $30 and the other for $45. Tax planning us 1040x The corporation distributed two new shares of common stock for each share held. Tax planning us 1040x You had six shares after the distribution—three with a basis of $10 each ($30 ÷ 3) and three with a basis of $15 each ($45 ÷ 3). Tax planning us 1040x New and old stock not identical. Tax planning us 1040x   If the new stock you received as a nontaxable dividend is not identical to the old stock on which it was declared, the basis of the new stock is calculated differently. Tax planning us 1040x Divide the adjusted basis of the old stock between the old and the new stock in the ratio of the fair market value of each lot of stock to the total fair market value of both lots on the date of distribution of the new stock. Tax planning us 1040x Example. Tax planning us 1040x You bought a share of common stock for $100. Tax planning us 1040x Later, the corporation distributed a share of preferred stock for each share of common stock held. Tax planning us 1040x At the date of distribution, your common stock had a fair market value of $150 and the preferred stock had a fair market value of $50. Tax planning us 1040x You figure the basis of the old and new stock by dividing your $100 basis between them. Tax planning us 1040x The basis of your common stock is $75 (($150 ÷ $200) × $100), and the basis of the new preferred stock is $25 (($50 ÷ $200) × $100). Tax planning us 1040x Stock bought at various times. Tax planning us 1040x   Figure the basis of stock dividends received on stock you bought at various times and at different prices by allocating to each lot of stock the share of the stock dividends due to it. Tax planning us 1040x Taxable stock dividends. Tax planning us 1040x   If your stock dividend is taxable when you receive it, the basis of your new stock is its fair market value on the date of distribution. Tax planning us 1040x The basis of your old stock does not change. Tax planning us 1040x Stock splits. Tax planning us 1040x   Figure the basis of stock splits in the same way as stock dividends if identical stock is distributed on the stock held. Tax planning us 1040x Stock rights. Tax planning us 1040x   A stock right is a right to acquire a corporation's stock. Tax planning us 1040x It may be exercised, it may be sold if it has a market value, or it may expire. Tax planning us 1040x Stock rights are rarely taxable when you receive them. Tax planning us 1040x See Distributions of Stock and Stock Rights under Dividends and Other Distributions in chapter 1. Tax planning us 1040x Taxable stock rights. Tax planning us 1040x   If you receive stock rights that are taxable, the basis of the rights is their fair market value at the time of distribution. Tax planning us 1040x The basis of the old stock does not change. Tax planning us 1040x Nontaxable stock rights. Tax planning us 1040x   If you receive nontaxable stock rights and allow them to expire, they have no basis. Tax planning us 1040x   If you exercise or sell the nontaxable stock rights and if, at the time of distribution, the stock rights had a fair market value of 15% or more of the fair market value of the old stock, you must divide the adjusted basis of the old stock between the old stock and the stock rights. Tax planning us 1040x Use a ratio of the fair market value of each to the total fair market value of both at the time of distribution. Tax planning us 1040x   If the fair market value of the stock rights was less than 15%, their basis is zero. Tax planning us 1040x However, you can choose to divide the basis of the old stock between the old stock and the stock rights. Tax planning us 1040x To make the choice, attach a statement to your return for the year in which you received the rights, stating that you choose to divide the basis of the stock. Tax planning us 1040x Basis of new stock. Tax planning us 1040x   If you exercise the stock rights, the basis of the new stock is its cost plus the basis of the stock rights exercised. Tax planning us 1040x Example. Tax planning us 1040x You own 100 shares of ABC Company stock, which cost you $22 per share. Tax planning us 1040x The ABC Company gave you 10 nontaxable stock rights that would allow you to buy 10 more shares at $26 per share. Tax planning us 1040x At the time the stock rights were distributed, the stock had a market value of $30, not including the stock rights. Tax planning us 1040x Each stock right had a market value of $3. Tax planning us 1040x The market value of the stock rights was less than 15% of the market value of the stock, but you chose to divide the basis of your stock between the stock and the rights. Tax planning us 1040x You figure the basis of the rights and the basis of the old stock as follows: 100 shares × $22 = $2,200, basis of old stock   100 shares × $30 = $3,000, market value of old stock   10 rights × $3 = $30, market value of rights   ($3,000 ÷ $3,030) × $2,200 = $2,178. Tax planning us 1040x 22, new basis of old stock   ($30 ÷ $3,030) × $2,200 = $21. Tax planning us 1040x 78, basis of rights   If you sell the rights, the basis for figuring gain or loss is $2. Tax planning us 1040x 18 ($21. Tax planning us 1040x 78 ÷ 10) per right. Tax planning us 1040x If you exercise the rights, the basis of the stock you acquire is the price you pay ($26) plus the basis of the right exercised ($2. Tax planning us 1040x 18), or $28. Tax planning us 1040x 18 per share. Tax planning us 1040x The remaining basis of the old stock is $21. Tax planning us 1040x 78 per share. Tax planning us 1040x Investment property received in liquidation. Tax planning us 1040x   In general, if you receive investment property as a distribution in partial or complete liquidation of a corporation and if you recognize gain or loss when you acquire the property, your basis in the property is its fair market value at the time of the distribution. Tax planning us 1040x S corporation stock. Tax planning us 1040x   You must increase your basis in stock of an S corporation by your pro rata share of the following items. Tax planning us 1040x All income items of the S corporation, including tax-exempt income, that are separately stated and passed through to you as a shareholder. Tax planning us 1040x The nonseparately stated income of the S corporation. Tax planning us 1040x The amount of the deduction for depletion (other than oil and gas depletion) that is more than the basis of the property being depleted. Tax planning us 1040x   You must decrease your basis in stock of an S corporation by your pro rata share of the following items. Tax planning us 1040x Distributions by the S corporation that were not included in your income. Tax planning us 1040x All loss and deduction items of the S corporation that are separately stated and passed through to you. Tax planning us 1040x Any nonseparately stated loss of the S corporation. Tax planning us 1040x Any expense of the S corporation that is not deductible in figuring its taxable income and not properly chargeable to a capital account. Tax planning us 1040x The amount of your deduction for depletion of oil and gas wells to the extent the deduction is not more than your share of the adjusted basis of the wells. Tax planning us 1040x However, your basis in the stock cannot be reduced below zero. Tax planning us 1040x Specialized small business investment company stock or partnership interest. Tax planning us 1040x   If you bought this stock or interest as replacement property for publicly traded securities you sold at a gain, you must reduce the basis of the stock or interest by the amount of any postponed gain on that sale. Tax planning us 1040x See Rollover of Gain From Publicly Traded Securities , later. Tax planning us 1040x Qualified small business stock. Tax planning us 1040x   If you bought this stock as replacement property for other qualified small business stock you sold at a gain, you must reduce the basis of this replacement stock by the amount of any postponed gain on the earlier sale. Tax planning us 1040x See Gains on Qualified Small Business Stock , later. Tax planning us 1040x Short sales. Tax planning us 1040x   If you cannot deduct payments you make to a lender in lieu of dividends on stock used in a short sale, the amount you pay to the lender is a capital expense, and you must add it to the basis of the stock used to close the short sale. Tax planning us 1040x   See Payments in lieu of dividends , later, for information about deducting payments in lieu of dividends. Tax planning us 1040x Premiums on bonds. Tax planning us 1040x   If you buy a bond at a premium, the premium is treated as part of your basis in the bond. Tax planning us 1040x If you choose to amortize the premium paid on a taxable bond, you must reduce the basis of the bond by the amortized part of the premium each year over the life of the bond. Tax planning us 1040x   Although you cannot deduct the premium on a tax-exempt bond, you must amortize it to determine your adjusted basis in the bond. Tax planning us 1040x You must reduce the basis of the bond by the premium you amortized for the period you held the bond. Tax planning us 1040x   See Bond Premium Amortization in chapter 3 for more information. Tax planning us 1040x Market discount on bonds. Tax planning us 1040x   If you include market discount on a bond in income currently, increase the basis of your bond by the amount of market discount you include in your income. Tax planning us 1040x See Market Discount Bonds in chapter 1 for more information. Tax planning us 1040x Bonds purchased at par value. Tax planning us 1040x   A bond purchased at par value (face amount) has no premium or discount. Tax planning us 1040x When you sell or otherwise dispose of the bond, you figure the gain or loss by comparing the bond proceeds to the purchase price of the bond. Tax planning us 1040x Example. Tax planning us 1040x You purchased a bond several years ago for its par value of $10,000. Tax planning us 1040x You sold the bond this year for $10,100. Tax planning us 1040x You have a gain of $100. Tax planning us 1040x However, if you had sold the bond for $9,900, you would have a loss of $100. Tax planning us 1040x Acquisition discount on short-term obligations. Tax planning us 1040x   If you include acquisition discount on a short-term obligation in your income currently, increase the basis of the obligation by the amount of acquisition discount you include in your income. Tax planning us 1040x See Discount on Short-Term Obligations in chapter 1 for more information. Tax planning us 1040x Original issue discount (OID) on debt instruments. Tax planning us 1040x   Increase the basis of a debt instrument by the OID you include in your income. Tax planning us 1040x See Original Issue Discount (OID) in chapter 1. Tax planning us 1040x Discounted tax-exempt obligations. Tax planning us 1040x   OID on tax-exempt obligations is generally not taxable. Tax planning us 1040x However, when you dispose of a tax-exempt obligation issued after September 3, 1982, that you acquired after March 1, 1984, you must accrue OID on the obligation to determine its adjusted basis. Tax planning us 1040x The accrued OID is added to the basis of the obligation to determine your gain or loss. Tax planning us 1040x   For information on determining OID on a long-term obligation, see Debt Instruments Issued After July 1, 1982, and Before 1985 or Debt Instruments Issued After 1984, whichever applies, in Publication 1212 under Figuring OID on Long-Term Debt Instruments. Tax planning us 1040x   If the tax-exempt obligation has a maturity of 1 year or less, accrue OID under the rules for acquisition discount on short-term obligations. Tax planning us 1040x See Discount on Short-Term Obligations in chapter 1. Tax planning us 1040x Stripped tax-exempt obligation. Tax planning us 1040x   If you acquired a stripped tax-exempt bond or coupon after October 22, 1986, you must accrue OID on it to determine its adjusted basis when you dispose of it. Tax planning us 1040x For stripped tax-exempt bonds or coupons acquired after June 10, 1987, part of this OID may be taxable. Tax planning us 1040x You accrue the OID on these obligations in the manner described in chapter 1 under Stripped Bonds and Coupons . Tax planning us 1040x   Increase your basis in the stripped tax-exempt bond or coupon by the taxable and nontaxable accrued OID. Tax planning us 1040x Also increase your basis by the interest that accrued (but was not paid and was not previously reflected in your basis) before the date you sold the bond or coupon. Tax planning us 1040x In addition, for bonds acquired after June 10, 1987, add to your basis any accrued market discount not previously reflected in basis. Tax planning us 1040x How To Figure Gain or Loss You figure gain or loss on a sale or trade of property by comparing the amount you realize with the adjusted basis of the property. Tax planning us 1040x Gain. Tax planning us 1040x   If the amount you realize from a sale or trade is more than the adjusted basis of the property you transfer, the difference is a gain. Tax planning us 1040x Loss. Tax planning us 1040x   If the adjusted basis of the property you transfer is more than the amount you realize, the difference is a loss. Tax planning us 1040x Amount realized. Tax planning us 1040x   The amount you realize from a sale or trade of property is everything you receive for the property minus your expenses of sale (such as redemption fees, sales commissions, sales charges, or exit fees). Tax planning us 1040x Amount realized includes the money you receive plus the fair market value of any property or services you receive. Tax planning us 1040x   If you finance the buyer's purchase of your property and the debt instrument does not provide for adequate stated interest, the unstated interest that you must report as ordinary income will reduce the amount realized from the sale. Tax planning us 1040x For more information, see Publication 537. Tax planning us 1040x   If a buyer of property issues a debt instrument to the seller of the property, the amount realized is determined by reference to the issue price of the debt instrument, which may or may not be the fair market value of the debt instrument. Tax planning us 1040x See Regulations section 1. Tax planning us 1040x 1001-1(g). Tax planning us 1040x However, if the debt instrument was previously issued by a third party (one not part of the sale transaction), the fair market value of the debt instrument is used to determine the amount realized. Tax planning us 1040x Fair market value. Tax planning us 1040x   Fair market value is the price at which property would change hands between a buyer and a seller, neither being forced to buy or sell and both having reasonable knowledge of all the relevant facts. Tax planning us 1040x Example. Tax planning us 1040x You trade A Company stock with an adjusted basis of $7,000 for B Company stock with a fair market value of $10,000, which is your amount realized. Tax planning us 1040x Your gain is $3,000 ($10,000 – $7,000). Tax planning us 1040x If you also receive a note for $6,000 that has an issue price of $6,000, your gain is $9,000 ($10,000 + $6,000 – $7,000). Tax planning us 1040x Debt paid off. Tax planning us 1040x   A debt against the property, or against you, that is paid off as a part of the transaction or that is assumed by the buyer must be included in the amount realized. Tax planning us 1040x This is true even if neither you nor the buyer is personally liable for the debt. Tax planning us 1040x For example, if you sell or trade property that is subject to a nonrecourse loan, the amount you realize generally includes the full amount of the note assumed by the buyer even if the amount of the note is more than the fair market value of the property. Tax planning us 1040x Example. Tax planning us 1040x You sell stock that you had pledged as security for a bank loan of $8,000. Tax planning us 1040x Your basis in the stock is $6,000. Tax planning us 1040x The buyer pays off your bank loan and pays you $20,000 in cash. Tax planning us 1040x The amount realized is $28,000 ($20,000 + $8,000). Tax planning us 1040x Your gain is $22,000 ($28,000 – $6,000). Tax planning us 1040x Payment of cash. Tax planning us 1040x   If you trade property and cash for other property, the amount you realize is the fair market value of the property you receive. Tax planning us 1040x Determine your gain or loss by subtracting the cash you pay and the adjusted basis of the property you trade in from the amount you realize. Tax planning us 1040x If the result is a positive number, it is a gain. Tax planning us 1040x If the result is a negative number, it is a loss. Tax planning us 1040x No gain or loss. Tax planning us 1040x   You may have to use a basis for figuring gain that is different from the basis used for figuring loss. Tax planning us 1040x In this case, you may have neither a gain nor a loss. Tax planning us 1040x See No gain or loss in the discussion on the basis of property you received as a gift under Basis Other Than Cost, earlier. Tax planning us 1040x Special Rules for Mutual Funds To figure your gain or loss when you dispose of mutual fund shares, you need to determine which shares were sold and the basis of those shares. Tax planning us 1040x If your shares in a mutual fund were acquired all on the same day and for the same price, figuring their basis is not difficu
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Indian Affairs provides services to approximately 1.9 million American Indians and Alaska Natives.

Contact the Agency or Department

Website: Indian Affairs

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Address: MS-4141-MIB
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The Tax Planning Us 1040x

Tax planning us 1040x 11. Tax planning us 1040x   Beneficios del Seguro Social y Beneficios Equivalentes de la Jubilación para Empleados Ferroviarios Table of Contents Introduction Useful Items - You may want to see: ¿Está Sujeta a Impuestos Alguna Parte de los Beneficios? Cómo Declarar los Beneficios¿Cuánto Está Sujeto a Impuestos? Ejemplos Deducciones Relacionadas con los BeneficiosReintegros Superiores a los Beneficios Brutos Introduction Este capítulo explica las reglas del impuesto federal sobre el ingreso para los beneficios del Seguro Social y beneficios equivalentes de la jubilación para empleados ferroviarios de nivel 1. Tax planning us 1040x Explica los siguientes temas: Cómo determinar si los beneficios están sujetos a impuestos. Tax planning us 1040x Cómo usar la hoja de trabajo de beneficios del Seguro Social (con ejemplos). Tax planning us 1040x Cómo declarar los beneficios sujetos a impuestos. Tax planning us 1040x Cómo tratar reintegros superiores a los beneficios recibidos durante el año. Tax planning us 1040x Los beneficios del Seguro Social incluyen los beneficios mensuales de jubilación, para el sobreviviente y de incapacidad. Tax planning us 1040x Éstos no incluyen pagos del Supplemental Security Income (Ingreso de seguridad suplementario o SSI, por sus siglas en inglés), los cuales no están sujetos a impuestos. Tax planning us 1040x Los beneficios equivalentes de la jubilación de empleados ferroviarios de nivel 1 son la parte de los beneficios de nivel 1 que un empleado ferroviario o beneficiario habría tenido derecho a recibir conforme al sistema del Seguro Social. Tax planning us 1040x Éstos se conocen habitualmente como el Social Security equivalent benefit (beneficio equivalente al Seguro Social o SSEB, por sus siglas en inglés) de los beneficios de nivel 1. Tax planning us 1040x Si recibió estos beneficios durante el año 2013, debería haber recibido un Formulario SSA-1099, Social Security Benefit Statement (Declaración de beneficios del Seguro Social), en inglés, o un Formulario RRB-1099, Payments by the Railroad Retirement Board (Pagos efectuados por la Junta de Jubilación Ferroviaria), en inglés. Tax planning us 1040x Estos formularios muestran las cantidades recibidas y reintegradas y los impuestos retenidos durante el año. Tax planning us 1040x Tal vez reciba más de uno de estos formularios para el mismo año. Tax planning us 1040x Debe sumar las cantidades que aparezcan en todos los Formularios SSA-1099 y los Formularios RRB-1099 que reciba para el año para determinar las cantidades totales recibidas y reintegradas, y los impuestos retenidos durante ese año. Tax planning us 1040x Consulte el Appendix (Apéndice) al final de la Publicación 915, Social Security and Equivalent Railroad Retirement Benefits (Beneficios del Seguro Social y beneficios equivalentes de jubilación para empleados ferroviarios), en inglés, para más información. Tax planning us 1040x Nota: El uso del término “beneficios” en este capítulo corresponde tanto a los beneficios del Seguro Social como a la parte del SSEB de los beneficios de jubilación de empleados ferroviarios de nivel 1. Tax planning us 1040x Lo que no cubre este capítulo. Tax planning us 1040x   Este capítulo no cubre las reglas tributarias para los siguientes beneficios de jubilación de empleados ferroviarios: Parte de los beneficios no equivalentes al Seguro Social (NSSEB, por sus siglas en inglés) de los beneficios de nivel 1. Tax planning us 1040x Beneficios de nivel 2. Tax planning us 1040x Beneficios dobles adquiridos. Tax planning us 1040x Beneficios suplementarios de anualidad. Tax planning us 1040x Para obtener información acerca de estos beneficios, consulte la Publicación 575, Pension and Annuity Income (Ingresos de pensiones y anualidades), en inglés. Tax planning us 1040x   Este capítulo no cubre las reglas tributarias para los beneficios del Seguro Social declarados en el Formulario SSA-1042S, Social Security Benefit Statement (Declaración de beneficios del Seguro Social), o Formulario RRB-1042S, Statement for Nonresident Alien Recipients of: Payments by the Railroad Retirement Board (Declaración para destinatarios extranjeros no residentes de: Pagos efectuados por la Junta de Jubilación Ferroviaria), en inglés. Tax planning us 1040x Para información sobre estos beneficios, vea la Publicación 519, U. Tax planning us 1040x S. Tax planning us 1040x Tax Guide for Aliens (Guía sobre los impuestos estadounidenses para extranjeros), en inglés, y la Publicación 915, en inglés. Tax planning us 1040x   Este capítulo tampoco cubre las reglas tributarias sobre los beneficios extranjeros del Seguro Social. Tax planning us 1040x Estos beneficios están sujetos a impuestos como anualidades, a menos que estén exentos de impuestos estadounidenses o sean tratados como beneficios del Seguro Social estadounidense conforme a un tratado tributario. Tax planning us 1040x Useful Items - You may want to see: Publicación 505 Tax Withholding and Estimated Tax (Retención del impuesto e impuesto estimado), en inglés 575 Pension and Annuity Income (Ingresos de pensiones y anualidades), en inglés 590 Individual Retirement Arrangements (IRAs) (Arreglos de ahorros para la jubilación (Arreglos IRA)), en inglés 915 Social Security and Equivalent Railroad Retirement Benefits (Beneficios del Seguro Social y beneficios equivalentes de jubilación para empleados ferroviarios), en inglés Formularios (e Instrucciones) 1040-ES Estimated Tax for Individuals (Impuesto estimado para las personas físicas), en inglés SSA-1099 Social Security Benefit Statement (Declaración de beneficios del Seguro Social), en inglés RRB-1099 Payments by the Railroad Retirement Board (Pagos efectuados por la Junta de Jubilación Ferroviaria), en inglés W-4V Voluntary Withholding Request (Solicitud de retención voluntaria), en inglés ¿Está Sujeta a Impuestos Alguna Parte de los Beneficios? Para saber si alguna parte de los beneficios puede estar sujeta a impuestos, compare la cantidad base de su estado civil para efectos de la declaración con el total de: La mitad de los beneficios, más Todos los demás ingresos, incluidos los intereses exentos de impuestos. Tax planning us 1040x Al hacer esta comparación, no reste de los demás ingresos ninguna de las siguientes exclusiones: Intereses sobre bonos de ahorros estadounidenses calificados; Beneficios por adopción proporcionados por el empleador; Ingresos devengados en el extranjero o vivienda en el extranjero ni Ingresos devengados por residentes bona fide de la Samoa Estadounidense o Puerto Rico. Tax planning us 1040x Beneficios por hijos. Tax planning us 1040x   Las reglas en este capítulo corresponden a beneficios recibidos por hijos. Tax planning us 1040x Vea A quién se le cobran impuestos , más adelante. Tax planning us 1040x Cómo calcular el ingreso total. Tax planning us 1040x   Para calcular el total de la mitad de los beneficios más otros ingresos, use la Hoja de Trabajo 11-1 que aparece más adelante en este capítulo. Tax planning us 1040x Si el total es mayor que la cantidad base, es posible que parte de los beneficios esté sujeta a impuestos. Tax planning us 1040x    Si es casado y presenta una declaración conjunta para el año 2013, usted y su cónyuge tienen que sumar sus ingresos y beneficios para calcular si alguna parte de la suma de éstos está sujeta a impuestos. Tax planning us 1040x Aun si su cónyuge no recibió beneficios, tiene que sumar el ingreso de su cónyuge al suyo para calcular si alguna parte de los beneficios está sujeta a impuestos. Tax planning us 1040x    Si el único ingreso que recibió durante el año 2013 fue del Seguro Social o la parte del SSEB de los beneficios de jubilación para empleados ferroviarios de nivel 1, los beneficios no están, por lo general, sujetos a impuestos y probablemente no tenga que presentar una declaración. Tax planning us 1040x Si tiene ingresos además de beneficios, tal vez tenga que presentar una declaración aun si ninguna parte de los beneficios está sujeta a impuestos. Tax planning us 1040x Cantidad base. Tax planning us 1040x   La cantidad base es: $25,000 si es soltero, cabeza de familia o viudo que reúne los requisitos; $25,000 si es casado que presenta una declaración por separado y vivió separado de su cónyuge durante todo el año 2013; $32,000 si es casado que presenta una declaración conjunta o $-0- si es casado que presenta una declaración por separado y vivió con su cónyuge en algún momento durante el año 2013. Tax planning us 1040x Hoja de Trabajo 11-1. Tax planning us 1040x    Puede usar la Hoja de Trabajo 11-1 para calcular la cantidad de ingresos y compararla con la cantidad base. Tax planning us 1040x Ésta es una manera rápida de averiguar si alguna parte de sus beneficios está sujeta a impuestos. Tax planning us 1040x Hoja de Trabajo 11-1. Tax planning us 1040x Una Manera Rápida de Averiguar si sus Beneficios Podrían Estar Sujetos a Impuestos A. Tax planning us 1040x Anote la cantidad del recuadro 5 de todos los Formularios SSA-1099 y RRB-1099. Tax planning us 1040x Incluya la cantidad total de los pagos de beneficios en suma global recibidos en el año 2013, para el año 2013 y años anteriores. Tax planning us 1040x Si recibió más de un formulario, sume las cantidades del recuadro 5 y anote el total. Tax planning us 1040x A. Tax planning us 1040x   Nota: Si la cantidad de la línea A es cero o menos, deténgase aquí; ninguna parte de los beneficios está sujeta a impuestos este año. Tax planning us 1040x B. Tax planning us 1040x Anote la mitad de la cantidad de la línea A B. Tax planning us 1040x   C. Tax planning us 1040x Anote las pensiones, salarios, intereses, dividendos y otros ingresos sujetos a impuestos C. Tax planning us 1040x   D. Tax planning us 1040x Anote todos los ingresos de intereses exentos de impuestos (como intereses de bonos municipales) más toda exclusión de los ingresos (enumerados anteriormente) . Tax planning us 1040x D. Tax planning us 1040x   E. Tax planning us 1040x Sume las líneas B, C y D E. Tax planning us 1040x   Nota: Compare la cantidad de la línea E con la cantidad base correspondiente a su estado civil para efectos de la declaración. Tax planning us 1040x Si la cantidad de la línea E es igual o menor que la cantidad base correspondiente a su estado civil, ninguna parte de sus beneficios está sujeta a impuestos este año. Tax planning us 1040x Si la cantidad de la línea E es mayor que la cantidad base, alguna parte de sus beneficios podría estar sujeta a impuestos. Tax planning us 1040x Tiene que completar la Hoja de Trabajo 1 de la Publicación 915, en inglés (o la Social Security Benefits Worksheet (Hoja de trabajo para beneficios del Seguro Social) de las instrucciones del formulario para la declaración de impuestos que usted presenta). Tax planning us 1040x Si ninguna parte de los beneficios está sujeta a impuestos, pero igual tiene que presentar una declaración, vea más adelante Beneficios no sujetos a impuestos , bajo Cómo Declarar los Beneficios. Tax planning us 1040x Ejemplo. Tax planning us 1040x Usted y su cónyuge (ambos mayores de 65 años de edad) presentan una declaración conjunta para el año 2013 y ambos recibieron beneficios del Seguro Social durante el año. Tax planning us 1040x En enero del año 2014, usted recibió un Formulario SSA-1099 que muestra beneficios netos de $7,500 en el recuadro 5. Tax planning us 1040x Su cónyuge recibió un Formulario SSA-1099 que muestra beneficios netos de $3,500 en el recuadro 5. Tax planning us 1040x Además, usted recibió una pensión sujeta a impuestos de $22,800 e ingresos de intereses de $500. Tax planning us 1040x No tuvo ningún ingreso de intereses exentos de impuestos. Tax planning us 1040x Sus beneficios no están sujetos a impuestos para el año 2013 debido a que su ingreso, según lo calculado en la Hoja de Trabajo 11-1 completada, no es mayor que la cantidad base ($32,000) para una persona casada que presenta una declaración conjunta. Tax planning us 1040x Aunque ninguna cantidad de sus beneficios está sujeta a impuestos, usted tiene que presentar una declaración para el año 2013 debido a que su ingreso bruto sujeto a impuestos ($23,300) excede de la cantidad mínima requerida para la presentación de la declaración correspondiente a su estado civil para efectos de la declaración. Tax planning us 1040x Hoja de Trabajo 11-1 completada. Tax planning us 1040x Una Manera Rápida de Averiguar si sus Beneficios Podrían Estar Sujetos a Impuestos A. Tax planning us 1040x Anote la cantidad del recuadro 5 de todos los Formularios SSA-1099 y RRB-1099. Tax planning us 1040x Incluya la cantidad total de los pagos de beneficios en suma global recibidos en el año 2013, para el año 2013 y años anteriores. Tax planning us 1040x Si recibió más de un formulario, sume las cantidades del recuadro 5 y anote el total. Tax planning us 1040x A. Tax planning us 1040x $ 11,000 Nota: Si la cantidad de la línea A es cero o menos, deténgase aquí; ninguna parte de los beneficios está sujeta a impuestos este año. Tax planning us 1040x B. Tax planning us 1040x Anote la mitad de la cantidad de la línea A B. Tax planning us 1040x 5,500 C. Tax planning us 1040x Anote las pensiones, salarios, intereses, dividendos y otros ingresos sujetos a impuestos C. Tax planning us 1040x 23,300 D. Tax planning us 1040x Anote todos los ingresos de intereses exentos de impuestos (como intereses de bonos municipales) más toda exclusión de los ingresos (enumerados anteriormente). Tax planning us 1040x D. Tax planning us 1040x -0- E. Tax planning us 1040x Sume las líneas B, C y D E. Tax planning us 1040x $28,800 Nota: Compare la cantidad de la línea E con la cantidad base correspondiente a su estado civil para efectos de la declaración. Tax planning us 1040x Si la cantidad de la línea E es igual o menor que la cantidad base correspondiente a su estado civil, ninguna parte de sus beneficios está sujeta a impuestos este año. Tax planning us 1040x Si la cantidad de la línea E es mayor que la cantidad base, alguna parte de sus beneficios podría estar sujeta a impuestos. Tax planning us 1040x Tiene que completar la Hoja de Trabajo 1 de la Publicación 915, en inglés (o la Social Security Benefits Worksheet (Hoja de trabajo para beneficios del Seguro Social) de las instrucciones del formulario para la declaración de impuestos que usted presenta). Tax planning us 1040x Si ninguna parte de los beneficios está sujeta a impuestos, pero igual tiene que presentar una declaración, vea más adelante Beneficios no sujetos a impuestos , bajo Cómo Declarar los Beneficios. Tax planning us 1040x A quién se le cobran impuestos. Tax planning us 1040x   Los beneficios se incluyen en los ingresos sujetos a impuestos (según estén sujetos a impuestos) de la persona que tiene derecho legal a recibirlos. Tax planning us 1040x Por ejemplo, si usted y su hijo reciben beneficios, pero el cheque de su hijo está a nombre de usted, tiene que usar sólo la parte de los beneficios que le corresponde a usted para ver si alguna parte de los beneficios en su caso está sujeta a impuestos. Tax planning us 1040x La mitad de la parte correspondiente a su hijo tiene que sumarse a los demás ingresos de su hijo para saber si alguna parte de esos beneficios está sujeta a impuestos para su hijo. Tax planning us 1040x Reintegro de beneficios. Tax planning us 1040x   Todo reintegro de beneficios que usted haya hecho durante el año 2013 tiene que restarse de los beneficios brutos que recibió en el año 2013. Tax planning us 1040x No importa si el reintegro fue por beneficios recibidos en el año 2013 o en un año anterior. Tax planning us 1040x Si el reintegro fue mayor que los beneficios brutos recibidos en el año 2013, consulte Reintegros Superiores a los Beneficios Brutos , más adelante. Tax planning us 1040x   Los beneficios brutos aparecen en el recuadro 3 del Formulario SSA-1099 o RRB-1099. Tax planning us 1040x Los reintegros aparecen en el recuadro 4. Tax planning us 1040x La cantidad del recuadro 5 muestra los beneficios netos del año 2013 (recuadro 3 menos recuadro 4). Tax planning us 1040x Use la cantidad del recuadro 5 para calcular si alguna parte de sus beneficios está sujeta a impuestos. Tax planning us 1040x Retención de impuestos e impuesto estimado. Tax planning us 1040x   Puede optar por que se haga la retención del impuesto federal sobre el ingreso de sus beneficios del Seguro Social y/o de la parte del SSEB de sus beneficios de jubilación para empleados ferroviarios de nivel 1. Tax planning us 1040x Si opta por hacerlo, tiene que completar un Formulario W-4V. Tax planning us 1040x   Si opta por no hacer la retención del impuesto sobre el ingreso, tal vez tenga que solicitar la retención adicional de otros ingresos o pagar un impuesto estimado durante el año. Tax planning us 1040x Para más detalles, consulte la Publicación 505 o las instrucciones para el Formulario 1040-ES, ambas en inglés. Tax planning us 1040x Cómo Declarar los Beneficios Si parte de sus beneficios está sujeta a impuestos, tiene que usar el Formulario 1040 o el Formulario 1040A. Tax planning us 1040x No puede usar el Formulario 1040EZ. Tax planning us 1040x Cómo hacer la declaración en el Formulario 1040. Tax planning us 1040x   Declare los beneficios netos (la cantidad total del recuadro 5 de todos los Formularios SSA-1099 y de los Formularios RRB-1099) en la línea 20a y la parte sujeta a impuestos en la línea 20b. Tax planning us 1040x Si es casado que presenta una declaración por separado y vivió separado de su cónyuge durante todo el año 2013, anote también “D” a la derecha de la palabra “ benefits ” (beneficios) en la línea 20a. Tax planning us 1040x Cómo hacer la declaración en el Formulario 1040A. Tax planning us 1040x   Declare los beneficios netos (la cantidad total del recuadro 5 de todos los Formularios SSA-1099 y de los Formularios RRB-1099) en la línea 14a y la parte sujeta a impuestos en la línea 14b. Tax planning us 1040x Si es casado que presenta una declaración por separado y vivió separado de su cónyuge durante todo el año 2013, anote también “D” a la derecha de la palabra “ benefits ” (beneficios) en la línea 14a. Tax planning us 1040x Beneficios no sujetos a impuestos. Tax planning us 1040x   Si presenta el Formulario 1040EZ, no declare beneficios en su declaración de impuestos. Tax planning us 1040x Si presenta el Formulario 1040 o Formulario 1040A, declare sus beneficios netos (la cantidad total del recuadro 5 de todos sus Formularios SSA-1099 y Formularios RRB-1099) en la línea 20a del Formulario 1040 o en la línea 14a del Formulario 1040A. Tax planning us 1040x Anote “-0-” en la línea 20b del Formulario 1040 o en la línea 14b del Formulario 1040A. Tax planning us 1040x Si es casado que presenta la declaración por separado y vivió separado de su cónyuge durante todo el año 2013, anote también “D” a la derecha de la palabra “ benefits ” (beneficios) en la línea 20a del Formulario 1040 o en la línea 14a del Formulario 1040A. Tax planning us 1040x ¿Cuánto Está Sujeto a Impuestos? Si parte de sus beneficios está sujeta a impuestos, dicha cantidad depende de la cantidad total de los beneficios y otros ingresos. Tax planning us 1040x Normalmente, cuanto más alta sea esa cantidad total, mayor es la parte sujeta a impuestos de los beneficios. Tax planning us 1040x Máxima parte sujeta a impuestos. Tax planning us 1040x   Por lo general, hasta el 50% de los beneficios están sujetos a impuestos. Tax planning us 1040x Sin embargo, hasta el 85% de los beneficios pueden estar sujetos a impuestos si en su caso se da alguna de las siguientes situaciones: El total de la mitad de los beneficios más todos los demás ingresos es mayor de $34,000 ($44,000 si es casado que presenta una declaración conjunta). Tax planning us 1040x Es casado que presenta una declaración por separado y vivió con su cónyuge en algún momento durante el año 2013. Tax planning us 1040x Qué hoja de trabajo debe usar. Tax planning us 1040x   En las instrucciones del Formulario 1040 o del Formulario 1040A hay una hoja de trabajo para calcular los beneficios sujetos a impuestos. Tax planning us 1040x Puede usar esa hoja de trabajo o la Hoja de Trabajo 1 de la Publicación 915, en inglés, a menos que alguna de las siguientes situaciones corresponda a su caso: Hizo aportaciones a un arreglo de ahorros para la jubilación (IRA, por sus siglas en inglés) tradicional y usted o su cónyuge está cubierto por un plan de jubilación del trabajo. Tax planning us 1040x En esta situación, usted tiene que usar las hojas de trabajo especiales del Appendix (Apéndice) B de la Publicación 590, en inglés, para calcular la deducción por un arreglo IRA y los beneficios sujetos a impuestos. Tax planning us 1040x La situación (1) no le corresponde y usted declara una exclusión por intereses sobre los bonos de ahorros estadounidenses calificados (Formulario 8815), beneficios por adopción (Formulario 8839), ingresos devengados en el extranjero o vivienda en el extranjero (Formulario 2555 o Formulario 2555-EZ), o ingresos devengados en la Samoa Estadounidense (Formulario 4563) o Puerto Rico declarados por residentes bona fide. Tax planning us 1040x En esta situación, se tiene que usar la Hoja de Trabajo 1 de la Publicación 915, en inglés, para calcular los beneficios sujetos a impuestos. Tax planning us 1040x Recibió un pago de suma global por un año anterior. Tax planning us 1040x En esta situación, complete además la Hoja de Trabajo 2 ó 3 y la Hoja de Trabajo 4 de la Publicación 915, en inglés. Tax planning us 1040x Consulte Elección de suma global , tema que aparece a continuación. Tax planning us 1040x Elección de suma global. Tax planning us 1040x   Tiene que incluir la parte sujeta a impuestos de un pago de suma global (retroactivo) de beneficios recibidos en el año 2013 en los ingresos del año 2013, aun si el pago incluye beneficios de un año anterior. Tax planning us 1040x    Este pago global de beneficios no debe confundirse con el pago global de beneficios por fallecimiento que la SSA y la RRB pagan a muchos de sus beneficiarios. Tax planning us 1040x Ninguna parte del pago global de beneficios por fallecimiento está sujeta a impuestos. Tax planning us 1040x   Generalmente, se usa el ingreso del año 2013 para calcular la parte sujeta a impuestos del total de beneficios recibidos en el año 2013. Tax planning us 1040x Sin embargo, tal vez pueda calcular la parte sujeta a impuestos de un pago de suma global de un año anterior por separado, mediante el uso del ingreso del año anterior. Tax planning us 1040x Puede optar por este método si eso reduce los beneficios sujetos a impuestos. Tax planning us 1040x Cómo elegir su opción. Tax planning us 1040x   Si recibió un pago global de beneficios en el año 2013 que incluya beneficios de uno o más años anteriores, siga las instrucciones de la Publicación 915 bajo Lump-Sum Election (Elección de suma global) para saber si dicha elección reducirá sus beneficios sujetos a impuestos. Tax planning us 1040x Ese análisis también explica cómo elegir la opción que le sea de mayor beneficio. Tax planning us 1040x    Debido a que los beneficios sujetos a impuestos de ese año anterior se incluyen en el ingreso del año 2013, no es necesario realizar ningún ajuste en la declaración del año anterior. Tax planning us 1040x No presente una declaración enmendada del año anterior. Tax planning us 1040x Ejemplos Los siguientes son algunos ejemplos que puede usar como guía para calcular la parte sujeta a impuestos de sus beneficios. Tax planning us 1040x Ejemplo 1. Tax planning us 1040x Jorge Blanco es soltero y presenta el Formulario 1040 para el año 2013. Tax planning us 1040x Jorge recibió los siguientes ingresos en el año 2013: Pensión íntegramente sujeta a impuestos $18,600 Salario de trabajo a tiempo parcial 9,400 Ingreso de intereses sujeto a impuestos 990 Total $28,990 Además, Jorge recibió beneficios del Seguro Social durante el año 2013. Tax planning us 1040x El Formulario SSA-1099 que recibió en enero del año 2014 muestra $5,980 en el recuadro 5. Tax planning us 1040x Para calcular sus beneficios sujetos a impuestos, Jorge completa la hoja de trabajo que aparece aquí. Tax planning us 1040x Hoja de Trabajo 1 completada. Tax planning us 1040x Cómo Calcular los Beneficios Sujetos a Impuestos 1. Tax planning us 1040x Anote la cantidad total del recuadro 5 de TODOS los Formularios SSA-1099 y RRB-1099. Tax planning us 1040x Además, anote esta cantidad en la línea 20a del Formulario 1040 o en la línea 14a del Formulario 1040A. Tax planning us 1040x $5,980 2. Tax planning us 1040x Anote la mitad de la línea 1. Tax planning us 1040x 2,990 3. Tax planning us 1040x Sume el total de las cantidades del:     Formulario 1040: Líneas 7, 8a, 9a, 10 a 14, 15b, 16b, 17 a 19 y 21. Tax planning us 1040x     Formulario 1040A: Líneas 7, 8a, 9a, 10, 11b, 12b y 13 28,990 4. Tax planning us 1040x Anote la cantidad, si la hubiera, de la línea 8b del Formulario 1040 o del Formulario 1040A. Tax planning us 1040x -0- 5. Tax planning us 1040x Anote el total de toda exclusión/ajuste por:     • Beneficios por adopción (línea 28 del Formulario 8839),     • Ingresos devengados en el extranjero o vivienda en el extranjero (líneas 45 y 50 del Formulario 2555 o línea 18 del Formulario 2555-EZ) y     • Ciertos ingresos de residentes bona fide de la Samoa Estadounidense (línea 15 del Formulario 4563) o de Puerto Rico . Tax planning us 1040x . Tax planning us 1040x -0- 6. Tax planning us 1040x Sume las líneas 2, 3, 4 y 5 31,980 7. Tax planning us 1040x Declarantes que presentan el Formulario 1040: Anote la cantidad de las líneas 23 a 32 del Formulario 1040 y toda cantidad que se haya anotado en la línea de puntos directamente al lado de la línea 36 del Formulario 1040. Tax planning us 1040x     Declarantes que presentan el Formulario 1040A: Anote la cantidad de las líneas 16 y 17 del Formulario 1040A. Tax planning us 1040x -0- 8. Tax planning us 1040x ¿Es la cantidad de la línea 7 menor que la cantidad de la línea 6?     No. Tax planning us 1040x Ninguna parte de los beneficios del Seguro Social está sujeta a impuestos. Tax planning us 1040x Anote -0- en la línea 20b del Formulario 1040 o en la línea 14b del Formulario 1040A. Tax planning us 1040x   Sí. Tax planning us 1040x Reste la línea 7 de la línea 6 31,980 9. Tax planning us 1040x Si es: Casado que presenta una declaración conjunta, anote $32,000. Tax planning us 1040x Soltero, cabeza de familia, viudo que reúne los requisitos o casado que presenta una declaración por separado y vivió separado de su cónyuge durante todo el año 2013, anote $25,000. Tax planning us 1040x 25,000   Nota: Si es casado que presenta una declaración por separado y vivió con su cónyuge en algún momento del año 2013, omita las líneas 9 a 16; multiplique la línea 8 por 85% (0. Tax planning us 1040x 85) y anote el resultado en la línea 17. Tax planning us 1040x Luego, pase a la línea 18. Tax planning us 1040x   10. Tax planning us 1040x ¿Es la cantidad de la línea 9 menor que la cantidad de la línea 8?     No. Tax planning us 1040x Ninguna parte de los beneficios está sujeta a impuestos. Tax planning us 1040x Anote “-0-” en la línea 20b del Formulario 1040 o en la línea 14b del Formulario 1040A. Tax planning us 1040x Si es casado que presenta una declaración por separado y vivió separado de su cónyuge durante todo el año 2013, asegúrese de haber anotado “D” a la derecha de la palabra “ benefits ” (beneficios) en la línea 20a del Formulario 1040 o la línea 14a del Formulario 1040A. Tax planning us 1040x     Sí. Tax planning us 1040x Reste la línea 9 de la línea 8 6,980 11. Tax planning us 1040x Anote $12,000 si es casado que presenta una declaración conjunta; $9,000 si es soltero, cabeza de familia, viudo que reúne los requisitos o casado que presenta una declaración por separado y vivió separado de su cónyuge durante todo el año 2013. Tax planning us 1040x 9,000 12. Tax planning us 1040x Reste la línea 11 de la línea 10. Tax planning us 1040x Si el resultado es cero o menos, anote “-0-”. Tax planning us 1040x -0- 13. Tax planning us 1040x De las líneas 10 y 11, anote la que sea menor 6,980 14. Tax planning us 1040x Anote la mitad de la línea 13. Tax planning us 1040x 3,490 15. Tax planning us 1040x De las líneas 2 y 14, anote la que sea menor 2,990 16. Tax planning us 1040x Multiplique la línea 12 por 85% (0. Tax planning us 1040x 85). Tax planning us 1040x Si la línea 12 es cero, anote “-0-”. Tax planning us 1040x -0- 17. Tax planning us 1040x Sume las líneas 15 y 16. Tax planning us 1040x 2,990 18. Tax planning us 1040x Multiplique la línea 1 por 85% (0. Tax planning us 1040x 85). Tax planning us 1040x 5,083 19. Tax planning us 1040x Beneficios sujetos a impuestos. Tax planning us 1040x De las líneas 17 y 18, anote la que sea menor. Tax planning us 1040x Además, anote esta cantidad en la línea 20b del Formulario 1040 o la línea 14b del Formulario 1040A. Tax planning us 1040x $2,990       La cantidad de la línea 19 de la hoja de trabajo de Jorge muestra que $2,990 de sus beneficios del Seguro Social están sujetos a impuestos. Tax planning us 1040x En la línea 20a de su Formulario 1040, Jorge anota sus beneficios netos de $5,980. Tax planning us 1040x En la línea 20b, anota beneficios sujetos a impuestos de $2,990. Tax planning us 1040x   Ejemplo 2. Tax planning us 1040x Raimundo y Alicia García presentan una declaración conjunta en el Formulario 1040A para el año 2013. Tax planning us 1040x Raimundo está jubilado y recibió una pensión íntegramente sujeta a impuestos de $15,500. Tax planning us 1040x Además, recibió beneficios del Seguro Social y su Formulario SSA-1099 para el año 2013 muestra beneficios netos de $5,600 en el recuadro 5. Tax planning us 1040x Alicia trabajó durante el año y tuvo un salario de $14,000. Tax planning us 1040x Ella efectuó un pago deducible a su arreglo IRA de $1,000. Tax planning us 1040x Raimundo y Alicia tienen dos cuentas de ahorros con un total de $250 de ingresos de intereses sujetos a impuestos. Tax planning us 1040x Ellos completan la Hoja de Trabajo 1, anotando $29,750 ($15,500 + $14,000 + $250) en la línea 3. Tax planning us 1040x Ellos descubren que ninguna parte de los beneficios del Seguro Social de Raimundo está sujeta a impuestos. Tax planning us 1040x En el Formulario 1040A, anotan $5,600 en la línea 14a y “-0-” en la línea 14b. Tax planning us 1040x Hoja de Trabajo 1 completada. Tax planning us 1040x Cómo Calcular los Beneficios Sujetos a Impuestos 1. Tax planning us 1040x Anote la cantidad total del recuadro 5 de TODOS los Formularios SSA-1099 y RRB-1099. Tax planning us 1040x Además, anote esta cantidad en la línea 20a del Formulario 1040 o en la línea 14a del Formulario 1040A. Tax planning us 1040x $5,600 2. Tax planning us 1040x Anote la mitad de la línea 1. Tax planning us 1040x 2,800 3. Tax planning us 1040x Sume el total de las cantidades del:     Formulario 1040: Líneas 7, 8a, 9a, 10 a 14, 15b, 16b,17 a 19 y 21. Tax planning us 1040x     Formulario 1040A: Líneas 7, 8a, 9a, 10, 11b, 12b y 13 29,750 4. Tax planning us 1040x Anote la cantidad, si la hubiera, de la línea 8b del Formulario 1040 o del Formulario 1040A. Tax planning us 1040x -0- 5. Tax planning us 1040x Anote el total de toda exclusión/ajuste por:     • Beneficios por adopción (línea 28 del Formulario 8839),     • Ingresos devengados en el extranjero o vivienda en el extranjero (líneas 45 y 50 del Formulario 2555 o línea 18 del Formulario 2555-EZ) y     • Ciertos ingresos de residentes bona fide de la Samoa Estadounidense (línea 15 del Formulario 4563) o de Puerto Rico -0- 6. Tax planning us 1040x Sume las líneas 2, 3, 4 y 5 32,550 7. Tax planning us 1040x Declarantes que presentan el Formulario 1040: Anote la cantidad de las líneas 23 a 32 del Formulario 1040 y toda cantidad que se haya anotado en la línea de puntos directamente al lado de la línea 36 del Formulario 1040. Tax planning us 1040x     Declarantes que presentan el Formulario 1040A: Anote la cantidad de las líneas 16 y 17 del Formulario 1040A. Tax planning us 1040x 1,000 8. Tax planning us 1040x ¿Es la cantidad de la línea 7 menor que la cantidad de la línea 6?     No. Tax planning us 1040x Ninguna parte de los beneficios del Seguro Social está sujeta a impuestos. Tax planning us 1040x Anote -0- en la línea 20b del Formulario 1040 o en la línea 14b del Formulario 1040A. Tax planning us 1040x   Sí. Tax planning us 1040x Reste la línea 7 de la línea 6 31,550 9. Tax planning us 1040x Si es: Casado que presenta una declaración conjunta, anote $32,000. Tax planning us 1040x Soltero, cabeza de familia, viudo que reúne los requisitos o casado que presenta una declaración por separado y vivió separado de su cónyuge durante todo el año 2013, anote $25,000. Tax planning us 1040x 32,000   Nota: Si es casado que presenta una declaración por separado y vivió con su cónyuge en algún momento del año 2013, omita las líneas 9 a 16; multiplique la línea 8 por 85% (0. Tax planning us 1040x 85) y anote el resultado en la línea 17. Tax planning us 1040x Luego, pase a la línea 18. Tax planning us 1040x   10. Tax planning us 1040x ¿Es la cantidad de la línea 9 menor que la cantidad de la línea 8?     No. Tax planning us 1040x Ninguna parte de los beneficios está sujeta a impuestos. Tax planning us 1040x Anote “-0-” en la línea 20b del Formulario 1040 o en la línea 14b del Formulario 1040A. Tax planning us 1040x Si es casado que presenta una declaración por separado y vivió separado de su cónyuge durante todo el año 2013, asegúrese de haber anotado “D” a la derecha de la palabra “ benefits ” (beneficios) en la línea 20a del Formulario 1040 o la línea 14a del Formulario 1040A. Tax planning us 1040x     Sí. Tax planning us 1040x Reste la línea 9 de la línea 8   11. Tax planning us 1040x Anote $12,000 si es casado que presenta una declaración conjunta; $9,000 si es soltero, cabeza de familia, viudo que reúne los requisitos o casado que presenta una declaración por separado y vivió separado de su cónyuge durante todo el año 2013. Tax planning us 1040x   12. Tax planning us 1040x Reste la línea 11 de la línea 10. Tax planning us 1040x Si el resultado es cero o menos, anote “-0-”. Tax planning us 1040x   13. Tax planning us 1040x De las líneas 10 y 11, anote la que sea menor   14. Tax planning us 1040x Anote la mitad de la línea 13. Tax planning us 1040x   15. Tax planning us 1040x De las líneas 2 y 14, anote la que sea menor   16. Tax planning us 1040x Multiplique la línea 12 por 85% (0. Tax planning us 1040x 85). Tax planning us 1040x Si la línea 12 es cero, anote “-0-”. Tax planning us 1040x   17. Tax planning us 1040x Sume las líneas 15 y 16. Tax planning us 1040x   18. Tax planning us 1040x Multiplique la línea 1 por 85% (0. Tax planning us 1040x 85). Tax planning us 1040x   19. Tax planning us 1040x Beneficios sujetos a impuestos. Tax planning us 1040x De las líneas 17 y 18, anote la que sea menor. Tax planning us 1040x Además, anote esta cantidad en la línea 20b del Formulario 1040 o la línea 14b del Formulario 1040A. Tax planning us 1040x   Ejemplo 3. Tax planning us 1040x José y Beatriz Pérez presentan una declaración conjunta en el Formulario 1040 del año 2013. Tax planning us 1040x José es empleado ferroviario jubilado y en el año 2013 recibió la parte de beneficios equivalentes del Seguro Social (SSEB, por sus siglas en inglés) de los beneficios de jubilación para empleados ferroviarios de nivel 1. Tax planning us 1040x El Formulario RRB-1099 de José muestra $10,000 en el recuadro 5. Tax planning us 1040x Beatriz es funcionaria del gobierno jubilada y recibe una pensión íntegramente sujeta a impuestos de $38,000. Tax planning us 1040x Ellos tuvieron $2,300 de ingresos de intereses sujetos a impuestos más $200 de intereses sobre bonos de ahorros estadounidenses calificados. Tax planning us 1040x Los intereses sobre bonos de ahorros cumplieron las condiciones de la exclusión. Tax planning us 1040x Calculan sus beneficios sujetos a impuestos completando la Hoja de Trabajo 1. Tax planning us 1040x Ya que han recibido intereses sobre bonos de ahorros estadounidenses calificados, siguen las instrucciones en la primera parte de la hoja de trabajo y, en la línea 3 de la misma, anotan la cantidad de la línea 2 del Anexo B (Formulario 1040A o del Formulario 1040) en vez de anotar la cantidad de la línea 8a del Formulario 1040. Tax planning us 1040x En la línea 3 de la hoja de trabajo, anotan $40,500 ($38,000 + $2,500). Tax planning us 1040x Hoja de Trabajo 1 completada. Tax planning us 1040x Cómo Calcular los Beneficios Sujetos a Impuestos Tenga en cuenta los siguientes puntos antes de completar esta hoja de trabajo: • Si es casado que presenta una declaración por separado y no vivió con su cónyuge durante todo el año 2013, anote “D” a la derecha de la palabra “benefits” (beneficios) en la línea 20a del Formulario 1040 o en la línea 14a del Formulario 1040A. Tax planning us 1040x • No utilice esta hoja de trabajo si reintegró beneficios en el año 2013 y el total de estos reintegros (el recuadro 4 de los Formularios SSA-1099 y RRB-1099) era mayor que los beneficios brutos que recibió para el año 2013 (el recuadro 3 de los Formularios SSA-1099 y RRB-1099). Tax planning us 1040x Ninguna parte de los beneficios está sujeta a impuestos para el año 2013. Tax planning us 1040x Para información adicional, vea Reintegros Superiores a los Beneficios Brutos . Tax planning us 1040x • Si presenta el Formulario 8815, Exclusion of Interest From Series EE and I U. Tax planning us 1040x S. Tax planning us 1040x Savings Bonds Issued After 1989 (Exclusión de los intereses provenientes de los bonos de ahorros estadounidenses calificados de las series EE e I emitidos después de 1989), no anote en la línea 3 de esta hoja de trabajo la cantidad de la línea 8a del Formulario 1040 o de la línea 3 del Formulario 1040A. Tax planning us 1040x En lugar de ello, anote la cantidad de la línea 2 del Anexo B del Formulario 1040A o Formulario 1040. Tax planning us 1040x       1. Tax planning us 1040x Anote la cantidad total del recuadro 5 de TODOS los Formularios SSA-1099 y RRB-1099. Tax planning us 1040x Además, anote esta cantidad en la línea 20a del Formulario 1040 o en la línea 14a del Formulario 1040A. Tax planning us 1040x $10,000 2. Tax planning us 1040x Anote la mitad de la línea 1. Tax planning us 1040x 5,000 3. Tax planning us 1040x Sume el total de las cantidades del:     Formulario 1040: Líneas 7, 8a, 9a, 10 a 14, 15b, 16b, 17 a 19 y 21. Tax planning us 1040x     Formulario 1040A: Líneas 7, 8a, 9a, 10, 11b, 12b y 13 40,500 4. Tax planning us 1040x Anote la cantidad, si la hubiera, de la línea 8b del Formulario 1040 o del Formulario 1040A. Tax planning us 1040x -0- 5. Tax planning us 1040x Anote el total de toda exclusión/ajuste por:     • Beneficios por adopción (línea 28 del Formulario 8839),     • Ingresos devengados en el extranjero o vivienda en el extranjero (líneas 45 y 50 del Formulario 2555 o línea 18 del Formulario 2555-EZ) y     • Ciertos ingresos de residentes bona fide de la Samoa Estadounidense (línea 15 del Formulario 4563) o de Puerto Rico . Tax planning us 1040x . Tax planning us 1040x -0- 6. Tax planning us 1040x Sume las líneas 2, 3, 4 y 5 45,500 7. Tax planning us 1040x Declarantes que presentan el Formulario 1040: Anote la cantidad de las líneas 23 a 32 del Formulario 1040, y toda cantidad que se haya anotado en la línea de puntos directamente al lado de la línea 36 del Formulario 1040. Tax planning us 1040x     Declarantes que presentan el Formulario 1040A: Anote la cantidad de las líneas 16 y 17 del Formulario 1040A. Tax planning us 1040x -0- 8. Tax planning us 1040x ¿Es la cantidad de la línea 7 menor que la cantidad de la línea 6?     No. Tax planning us 1040x Ninguna parte de los beneficios del Seguro Social está sujeta a impuestos. Tax planning us 1040x Anote “-0-” en la línea 20b del Formulario 1040 o en la línea 14b del Formulario 1040A. Tax planning us 1040x   Sí. Tax planning us 1040x Reste la línea 7 de la línea 6 45,500 9. Tax planning us 1040x Si es: Casado que presenta una declaración conjunta, anote $32,000. Tax planning us 1040x Soltero, cabeza de familia, viudo que reúne los requisitos o casado que presenta una declaración por separado y vivió separado de su cónyuge durante todo el año 2013, anote $25,000. Tax planning us 1040x 32,000   Nota: Si es casado que presenta una declaración por separado y vivió con su cónyuge en algún momento del año 2013, omita las líneas 9 a 16; multiplique la línea 8 por 85% (0. Tax planning us 1040x 85) y anote el resultado en la línea 17. Tax planning us 1040x Luego, pase a la línea 18. Tax planning us 1040x   10. Tax planning us 1040x ¿Es la cantidad de la línea 9 menor que la cantidad de la línea 8?     No. Tax planning us 1040x Ninguna parte de los beneficios está sujeta a impuestos. Tax planning us 1040x Anote “-0-” en la línea 20b del Formulario 1040 o en la línea 14b del Formulario 1040A. Tax planning us 1040x Si es casado que presenta una declaración por separado y vivió separado de su cónyuge durante todo el año 2013, asegúrese de haber anotado “D” a la derecha de la palabra “ benefits ” (beneficios) en la línea 20a del Formulario 1040 o la línea 14a del Formulario 1040A. Tax planning us 1040x     Sí. Tax planning us 1040x Reste la línea 9 de la línea 8 13,500 11. Tax planning us 1040x Anote $12,000 si es casado que presenta una declaración conjunta; $9,000 si es soltero, cabeza de familia, viudo que reúne los requisitos o casado que presenta una declaración por separado y vivió separado de su cónyuge durante todo el año 2013. Tax planning us 1040x 12,000 12. Tax planning us 1040x Reste la línea 11 de la línea 10. Tax planning us 1040x Si el resultado es cero o menos, anote “-0-”. Tax planning us 1040x 1,500 13. Tax planning us 1040x De las líneas 10 y 11, anote la que sea menor 12,000 14. Tax planning us 1040x Anote la mitad de la línea 13. Tax planning us 1040x 6,000 15. Tax planning us 1040x De las líneas 2 y 14, anote la que sea menor 5,000 16. Tax planning us 1040x Multiplique la línea 12 por 85% (0. Tax planning us 1040x 85). Tax planning us 1040x Si la línea 12 es cero, anote “-0-”. Tax planning us 1040x 1,275 17. Tax planning us 1040x Sume las líneas 15 y 16. Tax planning us 1040x 6,275 18. Tax planning us 1040x Multiplique la línea 1 por 85% (0. Tax planning us 1040x 85). Tax planning us 1040x 8,500 19. Tax planning us 1040x Beneficios sujetos a impuestos. Tax planning us 1040x De las líneas 17 y 18, anote la que sea menor. Tax planning us 1040x Además, anote esta cantidad en la línea 20b del Formulario 1040 o la línea 14b del Formulario 1040A. Tax planning us 1040x $6,275 Más del 50% de los beneficios netos de José están sujetos a impuestos debido a que el ingreso de la línea 8 de la hoja de trabajo ($45,500) es mayor que $44,000. Tax planning us 1040x José y Beatriz anotan $10,000 en la línea 20a del Formulario 1040 y $6,275 en la línea 20b del Formulario 1040. Tax planning us 1040x Deducciones Relacionadas con los Beneficios Tal vez tenga derecho a deducir ciertas cantidades relacionadas con los beneficios que reciba. Tax planning us 1040x Pagos por incapacidad. Tax planning us 1040x   Tal vez haya recibido pagos por incapacidad de su empleador o de una compañía de seguros que usted incluyó como ingresos en la declaración de impuestos de algún año anterior. Tax planning us 1040x Si recibió un pago de suma global de la SSA o de la RRB, y tuvo que reintegrar al empleador o compañía de seguros los pagos por incapacidad, puede declarar una deducción detallada por la parte de los pagos que incluyó en los ingresos brutos de ese año anterior. Tax planning us 1040x Si la cantidad que reintegra es más de $3,000, tal vez pueda reclamar un crédito tributario en su lugar. Tax planning us 1040x Declare la deducción o crédito de la misma manera que se explica bajo Reintegros Superiores a los Beneficios Brutos , más adelante. Tax planning us 1040x Gastos por asuntos legales. Tax planning us 1040x   Normalmente se pueden deducir gastos por asuntos legales pagados, o en los que haya incurrido, para producir o cobrar ingresos sujetos a impuestos o relacionados con la determinación, el cobro o el reembolso de algún impuesto. Tax planning us 1040x   Los gastos por asuntos legales por el cobro de la parte sujeta a impuestos de sus beneficios son deducibles como una deducción miscelánea detallada en la línea 23 del Anexo A (Formulario 1040). Tax planning us 1040x Reintegros Superiores a los Beneficios Brutos En algunas situaciones, el Formulario SSA-1099 o el Formulario RRB-1099 mostrará que el total de los beneficios reintegrados (recuadro 4) es superior a los beneficios brutos (recuadro 3) recibidos. Tax planning us 1040x Si esto ocurre, los beneficios netos del recuadro 5 serán una cifra negativa (una cifra entre paréntesis) y ninguna parte de los beneficios estará sujeta a impuestos. Tax planning us 1040x No use una hoja de trabajo en este caso. Tax planning us 1040x Si recibe más de un formulario, una cifra negativa en el recuadro 5 de un formulario compensa una cifra positiva en el recuadro 5 de otro formulario para ese mismo año. Tax planning us 1040x Si tiene alguna duda acerca de esta cifra negativa, comuníquese con la oficina local de la SSA o la oficina regional de la RRB. Tax planning us 1040x Declaración conjunta. Tax planning us 1040x   Si usted y su cónyuge presentan una declaración conjunta y su Formulario SSA-1099 o RRB-1099 tiene una cifra negativa en el recuadro 5, pero la de su cónyuge no, reste la cantidad del recuadro 5 de su formulario de la cantidad del recuadro 5 del formulario de su cónyuge. Tax planning us 1040x Esto se hace para obtener los beneficios netos al calcular si está sujeta a impuestos la suma de sus beneficios y los de su cónyuge. Tax planning us 1040x Ejemplo. Tax planning us 1040x Juan y María presentan una declaración conjunta para el año 2013. Tax planning us 1040x Juan recibió el Formulario SSA-1099 que muestra $3,000 en el recuadro 5. Tax planning us 1040x María también recibió el Formulario SSA-1099 y la cantidad en el recuadro 5 fue ($500). Tax planning us 1040x Juan y María anotarán $2,500 ($3,000 menos $500) en concepto de beneficios netos al calcular si alguna parte de la suma de sus beneficios está sujeta a impuestos. Tax planning us 1040x Reintegro de beneficios recibidos en un año anterior. Tax planning us 1040x   Si la cantidad total que aparece en el recuadro 5 de todos los Formularios SSA-1099 y RRB-1099 es una cifra negativa, puede declarar una deducción detallada por la parte de esta cifra negativa que representa los beneficios que usted incluyó en el ingreso bruto de un año anterior. Tax planning us 1040x Deducción de $3,000 o menos. Tax planning us 1040x   Si esta deducción es $3,000 o menos, está sujeta al límite del 2% del ingreso bruto ajustado que corresponde a ciertas deducciones misceláneas detalladas. Tax planning us 1040x Reclámela en la línea 23 del Anexo A (Formulario 1040). Tax planning us 1040x Deducción de más de $3,000. Tax planning us 1040x    Si esta deducción es superior a $3,000, usted debe calcular el impuesto de dos maneras: Calcule el impuesto para el año 2013 con la deducción detallada incluida en la línea 28 del Anexo A. Tax planning us 1040x Calcule el impuesto para el año 2013 en los pasos siguientes: Calcule el impuesto sin la deducción detallada incluida en la línea 28 del Anexo A. Tax planning us 1040x Para cada año después de 1983 para el cual una parte de la cifra negativa representa un reintegro de beneficios, vuelva a calcular los beneficios sujetos a impuestos como si el total de éstos para el año hubiera sido reducido por aquella parte de la cifra negativa. Tax planning us 1040x Luego, vuelva a calcular el impuesto para ese año. Tax planning us 1040x Reste el total de las cantidades de impuestos recalculadas en el apartado (b) del total de las cantidades de impuestos reales. Tax planning us 1040x Reste el resultado del apartado (c) del resultado del apartado (a). Tax planning us 1040x Compare el impuesto calculado con los métodos (1) y (2). Tax planning us 1040x Su impuesto para el año 2013 es la menor de las dos cantidades. Tax planning us 1040x Si el método (1) genera menos impuestos, declare la deducción detallada en la línea 28 del Anexo A (Formulario 1040). Tax planning us 1040x Si el método (2) genera menos impuestos, tome un crédito por la cantidad del paso 2(c), indicado anteriormente, en la línea 71 del Formulario 1040. Tax planning us 1040x Marque el recuadro d y escriba “ I. Tax planning us 1040x R. Tax planning us 1040x C. Tax planning us 1040x 1341 ” en el espacio al lado de ese recuadro. Tax planning us 1040x Si ambos métodos generan el mismo impuesto, deduzca el reintegro de la línea 28 del Anexo A (Formulario 1040). Tax planning us 1040x Prev  Up  Next   Home   More Online Publications