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

1. Get Answers

Your online questions are customized to your unique tax situation.

2. Maximize your Refund

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

3. E-File for FREE

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

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

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

Tax Software Reviews

H&r BlockHow To File 2010 Taxes OnlineAmended 1040ezFile My 2012 TaxesFile 2011 Tax Return OnlineH & R Block Free Tax Filing2012 Free Tax Software OnlineH And R Block Free Tax PreparationIllinois 1040xTax Form 1040nr EzAmend A 2013 Tax ReturnFiling 2012 Tax ReturnHow To Fill Out An Amended Tax ReturnForm 1040nr Ez 20121040a 2011 Tax FormFree Federal And Free State Tax FilingEz TaxFree H&r Block TaxIrs Form 1040ez Tax Tables2012 Form 1040 Schedule A2011 Free Tax UsaFile Only State Taxes FreeFree 2010 State Tax FilingIrs GovefileFree Tax Prep2011 Form 1040HrblockHr Block TaxEz 40 Tax FormTax Forms 1040 EzIrs 1040ez Tax Table2011 Ez Tax Form1040 Ez 2012Hrblock MilitaryNj 1040nr2011 Federal Tax Forms 1040Where Can I Get State Tax FormsFile Tax Extension Online FreeFile State Taxes2011 1040 Tax Form

Tax Software Reviews

Tax software reviews 14. Tax software reviews   Sale of Property Table of Contents Reminder Introduction Useful Items - You may want to see: Sales and TradesWhat Is a Sale or Trade? How To Figure Gain or Loss Nontaxable Trades Transfers Between Spouses Related Party Transactions Capital Gains and LossesCapital or Ordinary Gain or Loss Capital Assets and Noncapital Assets Holding Period Nonbusiness Bad Debts Wash Sales Rollover of Gain From Publicly Traded Securities Reminder Foreign income. Tax software reviews  If you are a U. Tax software reviews S. Tax software reviews citizen who sells property located outside the United States, you must report all gains and losses from the sale of that property on your tax return unless it is exempt by U. Tax software reviews S. Tax software reviews law. Tax software reviews This is true whether you reside inside or outside the United States and whether or not you receive a Form 1099 from the payer. Tax software reviews Introduction This chapter discusses the tax consequences of selling or trading investment property. Tax software reviews It explains the following. Tax software reviews What a sale or trade is. Tax software reviews Figuring gain or loss. Tax software reviews Nontaxable trades. Tax software reviews Related party transactions. Tax software reviews Capital gains or losses. Tax software reviews Capital assets and noncapital assets. Tax software reviews Holding period. Tax software reviews Rollover of gain from publicly traded securities. Tax software reviews Other property transactions. Tax software reviews   Certain transfers of property are not discussed here. Tax software reviews They are discussed in other IRS publications. Tax software reviews These include the following. Tax software reviews Sales of a main home, covered in chapter 15. Tax software reviews Installment sales, covered in Publication 537, Installment Sales. Tax software reviews Transactions involving business property, covered in Publication 544, Sales and Other Dispositions of Assets. Tax software reviews Dispositions of an interest in a passive activity, covered in Publication 925, Passive Activity and At-Risk Rules. Tax software reviews    Publication 550, Investment Income and Expenses (Including Capital Gains and Losses), provides a more detailed discussion about sales and trades of investment property. Tax software reviews Publication 550 includes information about the rules covering nonbusiness bad debts, straddles, section 1256 contracts, puts and calls, commodity futures, short sales, and wash sales. Tax software reviews It also discusses investment-related expenses. Tax software reviews Useful Items - You may want to see: Publication 550 Investment Income and Expenses Form (and Instructions) Schedule D (Form 1040) Capital Gains and Losses 8949 Sales and Other Dispositions of Capital Assets 8824 Like-Kind Exchanges Sales and Trades If you sold property such as stocks, bonds, 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 software reviews Generally, you should receive the statement by February 15 of the next year. Tax software reviews It will show the gross proceeds from the sale. Tax software reviews If you sold a covered security in 2013, your 1099-B (or substitute statement) will show your basis. Tax software reviews Generally, a covered security is a security you acquired after 2010, with certain exceptions. Tax software reviews See the Instructions for Form 8949. Tax software reviews The IRS will also get a copy of Form 1099-B from the broker. Tax software reviews Use Form 1099-B (or substitute statement received from your broker) to complete Form 8949. Tax software reviews What Is a Sale or Trade? This section explains what is a sale or trade. Tax software reviews It also explains certain transactions and events that are treated as sales or trades. Tax software reviews A sale is generally a transfer of property for money or a mortgage, note, or other promise to pay money. Tax software reviews A trade is a transfer of property for other property or services and may be taxed in the same way as a sale. Tax software reviews Sale and purchase. Tax software reviews   Ordinarily, a transaction is not a trade when you voluntarily sell property for cash and immediately buy similar property to replace it. Tax software reviews The sale and purchase are two separate transactions. Tax software reviews But see Like-kind exchanges under Nontaxable Trades, later. Tax software reviews Redemption of stock. Tax software reviews   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 software reviews Dividend versus sale or trade. Tax software reviews   Whether a redemption is treated as a sale, trade, dividend, or other distribution depends on the circumstances in each case. Tax software reviews Both direct and indirect ownership of stock will be considered. Tax software reviews The redemption is treated as a sale or trade of stock if: The redemption is not essentially equivalent to a dividend (see chapter 8), 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 software reviews Redemption or retirement of bonds. Tax software reviews   A redemption or retirement of bonds or notes at their maturity is generally treated as a sale or trade. Tax software reviews   In addition, a significant modification of a bond is treated as a trade of the original bond for a new bond. Tax software reviews For details, see Regulations section 1. Tax software reviews 1001-3. Tax software reviews Surrender of stock. Tax software reviews   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 software reviews The surrendering shareholder must reallocate his or her basis in the surrendered shares to the shares he or she retains. Tax software reviews Worthless securities. Tax software reviews    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 software reviews This affects whether your capital loss is long term or short term. Tax software reviews See Holding Period , later. Tax software reviews   Worthless securities also include securities that you abandon after March 12, 2008. Tax software reviews To abandon a security, you must permanently surrender and relinquish all rights in the security and receive no consideration in exchange for it. Tax software reviews 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 software reviews    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 software reviews Do not deduct them in the year the stock became worthless. Tax software reviews How to report loss. Tax software reviews    Report worthless securities in Part I or Part II, whichever applies, of Form 8949. Tax software reviews In column (a), enter “Worthless. Tax software reviews ”    Report your worthless securities transactions on Form 8949 with the correct box checked for these transactions. Tax software reviews See Form 8949 and the Instructions for Form 8949. Tax software reviews For more information on Form 8949 and Schedule D (Form 1040), see Reporting Capital Gains and Losses in chapter 16. Tax software reviews See also Schedule D (Form 1040), Form 8949, and their separate instructions. Tax software reviews Filing a claim for refund. Tax software reviews   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 software reviews You must use Form 1040X, Amended U. Tax software reviews S. Tax software reviews Individual Income Tax Return, to amend your return for the year the security became worthless. Tax software reviews 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 software reviews For more information about filing a claim, see Amended Returns and Claims for Refund in chapter 1. Tax software reviews 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 software reviews Gain. Tax software reviews   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 software reviews Loss. Tax software reviews   If the adjusted basis of the property you transfer is more than the amount you realize, the difference is a loss. Tax software reviews Adjusted basis. Tax software reviews   The adjusted basis of property is your original cost or other original basis properly adjusted (increased or decreased) for certain items. Tax software reviews See chapter 13 for more information about determining the adjusted basis of property. Tax software reviews Amount realized. Tax software reviews   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 software reviews Amount realized includes the money you receive plus the fair market value of any property or services you receive. Tax software reviews If you received a note or other debt instrument for the property, see How To Figure Gain or Loss in chapter 4 of Publication 550 to figure the amount realized. Tax software reviews 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 software reviews For more information, see Publication 537. Tax software reviews Fair market value. Tax software reviews   Fair market value 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 software reviews Example. Tax software reviews 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 software reviews Your gain is $3,000 ($10,000 − $7,000). Tax software reviews Debt paid off. Tax software reviews    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 software reviews This is true even if neither you nor the buyer is personally liable for the debt. Tax software reviews 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 software reviews Example. Tax software reviews You sell stock that you had pledged as security for a bank loan of $8,000. Tax software reviews Your basis in the stock is $6,000. Tax software reviews The buyer pays off your bank loan and pays you $20,000 in cash. Tax software reviews The amount realized is $28,000 ($20,000 + $8,000). Tax software reviews Your gain is $22,000 ($28,000 − $6,000). Tax software reviews Payment of cash. Tax software reviews   If you trade property and cash for other property, the amount you realize is the fair market value of the property you receive. Tax software reviews Determine your gain or loss by subtracting the cash you pay plus the adjusted basis of the property you trade in from the amount you realize. Tax software reviews If the result is a positive number, it is a gain. Tax software reviews If the result is a negative number, it is a loss. Tax software reviews No gain or loss. Tax software reviews   You may have to use a basis for figuring gain that is different from the basis used for figuring loss. Tax software reviews In this case, you may have neither a gain nor a loss. Tax software reviews See Basis Other Than Cost in chapter 13. Tax software reviews Nontaxable Trades This section discusses trades that generally do not result in a taxable gain or deductible loss. Tax software reviews For more information on nontaxable trades, see chapter 1 of Publication 544. Tax software reviews Like-kind exchanges. Tax software reviews   If you trade business or investment property for other business or investment property of a like kind, you do not pay tax on any gain or deduct any loss until you sell or dispose of the property you receive. Tax software reviews To be nontaxable, a trade must meet all six of the following conditions. Tax software reviews The property must be business or investment property. Tax software reviews You must hold both the property you trade and the property you receive for productive use in your trade or business or for investment. Tax software reviews Neither property may be property used for personal purposes, such as your home or family car. Tax software reviews The property must not be held primarily for sale. Tax software reviews The property you trade and the property you receive must not be property you sell to customers, such as merchandise. Tax software reviews The property must not be stocks, bonds, notes, choses in action, certificates of trust or beneficial interest, or other securities or evidences of indebtedness or interest, including partnership interests. Tax software reviews However, see Special rules for mutual ditch, reservoir, or irrigation company stock, in chapter 4 of Publication 550 for an exception. Tax software reviews Also, you can have a nontaxable trade of corporate stocks under a different rule, as discussed later. Tax software reviews There must be a trade of like property. Tax software reviews The trade of real estate for real estate, or personal property for similar personal property, is a trade of like property. Tax software reviews The trade of an apartment house for a store building, or a panel truck for a pickup truck, is a trade of like property. Tax software reviews The trade of a piece of machinery for a store building is not a trade of like property. Tax software reviews Real property located in the United States and real property located outside the United States are not like property. Tax software reviews Also, personal property used predominantly within the United States and personal property used predominantly outside the United States are not like property. Tax software reviews The property to be received must be identified in writing within 45 days after the date you transfer the property given up in the trade. Tax software reviews The property to be received must be received by the earlier of: The 180th day after the date on which you transfer the property given up in the trade, or The due date, including extensions, for your tax return for the year in which the transfer of the property given up occurs. Tax software reviews    If you trade property with a related party in a like-kind exchange, a special rule may apply. Tax software reviews See Related Party Transactions , later in this chapter. Tax software reviews Also, see chapter 1 of Publication 544 for more information on exchanges of business property and special rules for exchanges using qualified intermediaries or involving multiple properties. Tax software reviews Partly nontaxable exchange. Tax software reviews   If you receive money or unlike property in addition to like property, and the above six conditions are met, you have a partly nontaxable trade. Tax software reviews You are taxed on any gain you realize, but only up to the amount of the money and the fair market value of the unlike property you receive. Tax software reviews You cannot deduct a loss. Tax software reviews Like property and unlike property transferred. Tax software reviews   If you give up unlike property in addition to the like property, you must recognize gain or loss on the unlike property you give up. Tax software reviews The gain or loss is the difference between the adjusted basis of the unlike property and its fair market value. Tax software reviews Like property and money transferred. Tax software reviews   If all of the above conditions (1) – (6) are met, you have a nontaxable trade even if you pay money in addition to the like property. Tax software reviews Basis of property received. Tax software reviews   To figure the basis of the property received, see Nontaxable Exchanges in chapter 13. Tax software reviews How to report. Tax software reviews   You must report the trade of like property on Form 8824. Tax software reviews If you figure a recognized gain or loss on Form 8824, report it on Schedule D (Form 1040), or on Form 4797, Sales of Business Property, whichever applies. Tax software reviews See the instructions for Line 22 in the Instructions for Form 8824. Tax software reviews   For information on using Form 4797, see chapter 4 of Publication 544. Tax software reviews Corporate stocks. Tax software reviews   The following trades of corporate stocks generally do not result in a taxable gain or a deductible loss. Tax software reviews Corporate reorganizations. Tax software reviews   In some instances, a company will give you common stock for preferred stock, preferred stock for common stock, or stock in one corporation for stock in another corporation. Tax software reviews If this is a result of a merger, recapitalization, transfer to a controlled corporation, bankruptcy, corporate division, corporate acquisition, or other corporate reorganization, you do not recognize gain or loss. Tax software reviews Stock for stock of the same corporation. Tax software reviews   You can exchange common stock for common stock or preferred stock for preferred stock in the same corporation without having a recognized gain or loss. Tax software reviews This is true for a trade between two stockholders as well as a trade between a stockholder and the corporation. Tax software reviews Convertible stocks and bonds. Tax software reviews   You generally will not have a recognized gain or loss if you convert bonds into stock or preferred stock into common stock of the same corporation according to a conversion privilege in the terms of the bond or the preferred stock certificate. Tax software reviews Property for stock of a controlled corporation. Tax software reviews   If you transfer property to a corporation solely in exchange for stock in that corporation, and immediately after the trade you are in control of the corporation, you ordinarily will not recognize a gain or loss. Tax software reviews This rule applies both to individuals and to groups who transfer property to a corporation. Tax software reviews It does not apply if the corporation is an investment company. Tax software reviews   For this purpose, to be in control of a corporation, you or your group of transferors must own, immediately after the exchange, at least 80% of the total combined voting power of all classes of stock entitled to vote and at least 80% of the outstanding shares of each class of nonvoting stock of the corporation. Tax software reviews   If this provision applies to you, you may have to attach to your return a complete statement of all facts pertinent to the exchange. Tax software reviews For details, see Regulations section 1. Tax software reviews 351-3. Tax software reviews Additional information. Tax software reviews   For more information on trades of stock, see Nontaxable Trades in chapter 4 of Publication 550. Tax software reviews Insurance policies and annuities. Tax software reviews   You will not have a recognized gain or loss if the insured or annuitant is the same under both contracts and you trade: A life insurance contract for another life insurance contract or for an endowment or annuity contract or for a qualified long-term care insurance contract, An endowment contract for another endowment contract that provides for regular payments beginning at a date no later than the beginning date under the old contract or for an annuity contract or for a qualified long-term insurance contract, An annuity contract for annuity contract or for a qualified long-term care insurance contract, or A qualified long-term care insurance contract for a qualified long-term care insurance contract. Tax software reviews   You also may not have to recognize gain or loss on an exchange of a portion of an annuity contract for another annuity contract. Tax software reviews For transfers completed before October 24, 2011, see Revenue Ruling 2003-76 in Internal Revenue Bulletin 2003-33 and Revenue Procedure 2008-24 in Internal Revenue Bulletin 2008-13. Tax software reviews Revenue Ruling 2003-76 is available at www. Tax software reviews irs. Tax software reviews gov/irb/2003-33_IRB/ar11. Tax software reviews html. Tax software reviews Revenue Procedure 2008-24 is available at www. Tax software reviews irs. Tax software reviews gov/irb/2008-13_IRB/ar13. Tax software reviews html. Tax software reviews For transfers completed on or after October 24, 2011, see Revenue Ruling 2003-76, above, and Revenue Procedure 2011-38, in Internal Revenue Bulletin 2011-30. Tax software reviews Revenue Procedure 2011-38 is available at www. Tax software reviews irs. Tax software reviews gov/irb/2011-30_IRB/ar09. Tax software reviews html. Tax software reviews   For tax years beginning after December 31, 2010, amounts received as an annuity for a period of 10 years or more, or for the lives of one or more individuals, under any portion of an annuity, endowment, or life insurance contract, are treated as a separate contract and are considered partial annuities. Tax software reviews A portion of an annuity, endowment, or life insurance contract may be annuitized, provided that the annuitization period is for 10 years or more or for the lives of one or more individuals. Tax software reviews The investment in the contract is allocated between the part of the contract from which amounts are received as an annuity and the part of the contract from which amounts are not received as an annuity. Tax software reviews   Exchanges of contracts not included in this list, such as an annuity contract for an endowment contract, or an annuity or endowment contract for a life insurance contract, are taxable. Tax software reviews Demutualization of life insurance companies. Tax software reviews   If you received stock in exchange for your equity interest as a policyholder or an annuitant, you generally will not have a recognized gain or loss. Tax software reviews See Demutualization of Life Insurance Companies in Publication 550. Tax software reviews U. Tax software reviews S. Tax software reviews Treasury notes or bonds. Tax software reviews   You can trade certain issues of U. Tax software reviews S. Tax software reviews Treasury obligations for other issues designated by the Secretary of the Treasury, with no gain or loss recognized on the trade. Tax software reviews See Savings bonds traded in chapter 1 of Publication 550 for more information. Tax software reviews Transfers Between Spouses Generally, no gain or loss is recognized on a transfer of property from an individual to (or in trust for the benefit of) a spouse, or if incident to a divorce, a former spouse. Tax software reviews This nonrecognition rule does not apply in the following situations. Tax software reviews The recipient spouse or former spouse is a nonresident alien. Tax software reviews Property is transferred in trust and liability exceeds basis. Tax software reviews Gain must be recognized to the extent the amount of the liabilities assumed by the trust, plus any liabilities on the property, exceed the adjusted basis of the property. Tax software reviews For other situations, see Transfers Between Spouses in chapter 4 of Publication 550. Tax software reviews Any transfer of property to a spouse or former spouse on which gain or loss is not recognized is treated by the recipient as a gift and is not considered a sale or exchange. Tax software reviews The recipient's basis in the property will be the same as the adjusted basis of the giver immediately before the transfer. Tax software reviews This carryover basis rule applies whether the adjusted basis of the transferred property is less than, equal to, or greater than either its fair market value at the time of transfer or any consideration paid by the recipient. Tax software reviews This rule applies for purposes of determining loss as well as gain. Tax software reviews Any gain recognized on a transfer in trust increases the basis. Tax software reviews A transfer of property is incident to a divorce if the transfer occurs within 1 year after the date on which the marriage ends, or if the transfer is related to the ending of the marriage. Tax software reviews Related Party Transactions Special rules apply to the sale or trade of property between related parties. Tax software reviews Gain on sale or trade of depreciable property. Tax software reviews   Your gain from the sale or trade of property to a related party may be ordinary income, rather than capital gain, if the property can be depreciated by the party receiving it. Tax software reviews See chapter 3 of Publication 544 for more information. Tax software reviews Like-kind exchanges. Tax software reviews   Generally, if you trade business or investment property for other business or investment property of a like kind, no gain or loss is recognized. Tax software reviews See Like-kind exchanges , earlier, under Nontaxable Trades. Tax software reviews   This rule also applies to trades of property between related parties, defined next under Losses on sales or trades of property. Tax software reviews However, if either you or the related party disposes of the like property within 2 years after the trade, you both must report any gain or loss not recognized on the original trade on your return filed for the year in which the later disposition occurs. Tax software reviews See Related Party Transactions in chapter 4 of Publication 550 for exceptions. Tax software reviews Losses on sales or trades of property. Tax software reviews   You cannot deduct a loss on the sale or trade of property, other than a distribution in complete liquidation of a corporation, if the transaction is directly or indirectly between you and the following related parties. Tax software reviews Members of your family. Tax software reviews This includes only your brothers and sisters, half-brothers and half-sisters, spouse, ancestors (parents, grandparents, etc. Tax software reviews ), and lineal descendants (children, grandchildren, etc. Tax software reviews ). Tax software reviews A partnership in which you directly or indirectly own more than 50% of the capital interest or the profits interest. Tax software reviews A corporation in which you directly or indirectly own more than 50% in value of the outstanding stock. Tax software reviews (See Constructive ownership of stock , later. Tax software reviews ) A tax-exempt charitable or educational organization directly or indirectly controlled, in any manner or by any method, by you or by a member of your family, whether or not this control is legally enforceable. Tax software reviews   In addition, a loss on the sale or trade of property is not deductible if the transaction is directly or indirectly between the following related parties. Tax software reviews A grantor and fiduciary, or the fiduciary and beneficiary, of any trust. Tax software reviews Fiduciaries of two different trusts, or the fiduciary and beneficiary of two different trusts, if the same person is the grantor of both trusts. Tax software reviews A trust fiduciary and a corporation of which more than 50% in value of the outstanding stock is directly or indirectly owned by or for the trust, or by or for the grantor of the trust. Tax software reviews A corporation and a partnership if the same persons own more than 50% in value of the outstanding stock of the corporation and more than 50% of the capital interest, or the profits interest, in the partnership. Tax software reviews Two S corporations if the same persons own more than 50% in value of the outstanding stock of each corporation. Tax software reviews Two corporations, one of which is an S corporation, if the same persons own more than 50% in value of the outstanding stock of each corporation. Tax software reviews An executor and a beneficiary of an estate (except in the case of a sale or trade to satisfy a pecuniary bequest). Tax software reviews Two corporations that are members of the same controlled group. Tax software reviews (Under certain conditions, however, these losses are not disallowed but must be deferred. Tax software reviews ) Two partnerships if the same persons own, directly or indirectly, more than 50% of the capital interests or the profit interests in both partnerships. Tax software reviews Multiple property sales or trades. Tax software reviews   If you sell or trade to a related party a number of blocks of stock or pieces of property in a lump sum, you must figure the gain or loss separately for each block of stock or piece of property. Tax software reviews The gain on each item may be taxable. Tax software reviews However, you cannot deduct the loss on any item. Tax software reviews Also, you cannot reduce gains from the sales of any of these items by losses on the sales of any of the other items. Tax software reviews Indirect transactions. Tax software reviews   You cannot deduct your loss on the sale of stock through your broker if, under a prearranged plan, a related party buys the same stock you had owned. Tax software reviews This does not apply to a trade between related parties through an exchange that is purely coincidental and is not prearranged. Tax software reviews Constructive ownership of stock. Tax software reviews   In determining whether a person directly or indirectly owns any of the outstanding stock of a corporation, the following rules apply. Tax software reviews Rule 1. Tax software reviews   Stock directly or indirectly owned by or for a corporation, partnership, estate, or trust is considered owned proportionately by or for its shareholders, partners, or beneficiaries. Tax software reviews Rule 2. Tax software reviews   An individual is considered to own the stock directly or indirectly owned by or for his or her family. Tax software reviews Family includes only brothers and sisters, half-brothers and half-sisters, spouse, ancestors, and lineal descendants. Tax software reviews Rule 3. Tax software reviews   An individual owning, other than by applying rule 2, any stock in a corporation is considered to own the stock directly or indirectly owned by or for his or her partner. Tax software reviews Rule 4. Tax software reviews   When applying rule 1, 2, or 3, stock constructively owned by a person under rule 1 is treated as actually owned by that person. Tax software reviews But stock constructively owned by an individual under rule 2 or rule 3 is not treated as owned by that individual for again applying either rule 2 or rule 3 to make another person the constructive owner of the stock. Tax software reviews Property received from a related party. Tax software reviews    If you sell or trade at a gain property you acquired from a related party, you recognize the gain only to the extent it is more than the loss previously disallowed to the related party. Tax software reviews This rule applies only if you are the original transferee and you acquired the property by purchase or exchange. Tax software reviews This rule does not apply if the related party's loss was disallowed because of the wash sale rules described in chapter 4 of Publication 550 under Wash Sales. Tax software reviews   If you sell or trade at a loss property you acquired from a related party, you cannot recognize the loss that was not allowed to the related party. Tax software reviews Example 1. Tax software reviews Your brother sells you stock for $7,600. Tax software reviews His cost basis is $10,000. Tax software reviews Your brother cannot deduct the loss of $2,400. Tax software reviews Later, you sell the same stock to an unrelated party for $10,500, realizing a gain of $2,900. Tax software reviews Your reportable gain is $500 (the $2,900 gain minus the $2,400 loss not allowed to your brother). Tax software reviews Example 2. Tax software reviews If, in Example 1, you sold the stock for $6,900 instead of $10,500, your recognized loss is only $700 (your $7,600 basis minus $6,900). Tax software reviews You cannot deduct the loss that was not allowed to your brother. Tax software reviews Capital Gains and Losses This section discusses the tax treatment of gains and losses from different types of investment transactions. Tax software reviews Character of gain or loss. Tax software reviews   You need to classify your gains and losses as either ordinary or capital gains or losses. Tax software reviews You then need to classify your capital gains and losses as either short term or long term. Tax software reviews If you have long-term gains and losses, you must identify your 28% rate gains and losses. Tax software reviews If you have a net capital gain, you must also identify any unrecaptured section 1250 gain. Tax software reviews   The correct classification and identification helps you figure the limit on capital losses and the correct tax on capital gains. Tax software reviews Reporting capital gains and losses is explained in chapter 16. Tax software reviews Capital or Ordinary Gain or Loss If you have a taxable gain or a deductible loss from a transaction, it may be either a capital gain or loss or an ordinary gain or loss, depending on the circumstances. Tax software reviews Generally, a sale or trade of a capital asset (defined next) results in a capital gain or loss. Tax software reviews A sale or trade of a noncapital asset generally results in ordinary gain or loss. Tax software reviews Depending on the circumstances, a gain or loss on a sale or trade of property used in a trade or business may be treated as either capital or ordinary, as explained in Publication 544. Tax software reviews In some situations, part of your gain or loss may be a capital gain or loss and part may be an ordinary gain or loss. Tax software reviews Capital Assets and Noncapital Assets For the most part, everything you own and use for personal purposes, pleasure, or investment is a capital asset. Tax software reviews Some examples are: Stocks or bonds held in your personal account, A house owned and used by you and your family, Household furnishings, A car used for pleasure or commuting, Coin or stamp collections, Gems and jewelry, and Gold, silver, or any other metal. Tax software reviews Any property you own is a capital asset, except the following noncapital assets. Tax software reviews Property held mainly for sale to customers or property that will physically become a part of the merchandise for sale to customers. Tax software reviews For an exception, see Capital Asset Treatment for Self-Created Musical Works , later. Tax software reviews Depreciable property used in your trade or business, even if fully depreciated. Tax software reviews Real property used in your trade or business. Tax software reviews A copyright, a literary, musical, or artistic composition, a letter or memorandum, or similar property that is: Created by your personal efforts, Prepared or produced for you (in the case of a letter, memorandum, or similar property), or Acquired under circumstances (for example, by gift) entitling you to the basis of the person who created the property or for whom it was prepared or produced. Tax software reviews For an exception to this rule, see Capital Asset Treatment for Self-Created Musical Works , later. Tax software reviews Accounts or notes receivable acquired in the ordinary course of a trade or business for services rendered or from the sale of property described in (1). Tax software reviews U. Tax software reviews S. Tax software reviews Government publications that you received from the government free or for less than the normal sales price, or that you acquired under circumstances entitling you to the basis of someone who received the publications free or for less than the normal sales price. Tax software reviews Certain commodities derivative financial instruments held by commodities derivatives dealers. Tax software reviews Hedging transactions, but only if the transaction is clearly identified as a hedging transaction before the close of the day on which it was acquired, originated, or entered into. Tax software reviews Supplies of a type you regularly use or consume in the ordinary course of your trade or business. Tax software reviews Investment Property Investment property is a capital asset. Tax software reviews Any gain or loss from its sale or trade is generally a capital gain or loss. Tax software reviews Gold, silver, stamps, coins, gems, etc. Tax software reviews   These are capital assets except when they are held for sale by a dealer. Tax software reviews Any gain or loss you have from their sale or trade generally is a capital gain or loss. Tax software reviews Stocks, stock rights, and bonds. Tax software reviews   All of these (including stock received as a dividend) are capital assets except when held for sale by a securities dealer. Tax software reviews However, if you own small business stock, see Losses on Section 1244 (Small Business) Stock , later, and Losses on Small Business Investment Company Stock, in chapter 4 of Publication 550. Tax software reviews Personal Use Property Property held for personal use only, rather than for investment, is a capital asset, and you must report a gain from its sale as a capital gain. Tax software reviews However, you cannot deduct a loss from selling personal use property. Tax software reviews Capital Asset Treatment for Self-Created Musical Works You can elect to treat musical compositions and copyrights in musical works as capital assets when you sell or exchange them if: Your personal efforts created the property, or You acquired the property under circumstances (for example, by gift) entitling you to the basis of the person who created the property or for whom it was prepared or produced. Tax software reviews You must make a separate election for each musical composition (or copyright in a musical work) sold or exchanged during the tax year. Tax software reviews You must make the election on or before the due date (including extensions) of the income tax return for the tax year of the sale or exchange. Tax software reviews You must make the election on Form 8949 by treating the sale or exchange as the sale or exchange of a capital asset, according to Form 8949, Schedule D (Form 1040), and their separate instructions. Tax software reviews For more information on Form 8949 and Schedule D (Form 1040), see Reporting Capital Gains and Losses in chapter 16. Tax software reviews See also Schedule D (Form 1040), Form 8949, and their separate instructions. Tax software reviews You can revoke the election if you have IRS approval. Tax software reviews To get IRS approval, you must submit a request for a letter ruling under the appropriate IRS revenue procedure. Tax software reviews See, for example, Rev. Tax software reviews Proc. Tax software reviews 2013-1, corrected by Announcement 2013–9, and amplified and modified by Rev. Tax software reviews Proc. Tax software reviews 2013–32, available at www. Tax software reviews irs. Tax software reviews gov/irb/2013-01_IRB/ar06. Tax software reviews html. Tax software reviews Alternatively, you are granted an automatic 6-month extension from the due date of your income tax return (excluding extensions) to revoke the election, provided you timely file your income tax return, and within this 6-month extension period, you file Form 1040X that treats the sale or exchange as the sale or exchange of property that is not a capital asset. Tax software reviews Discounted Debt Instruments Treat your gain or loss on the sale, redemption, or retirement of a bond or other debt instrument originally issued at a discount or bought at a discount as capital gain or loss, except as explained in the following discussions. Tax software reviews Short-term government obligations. Tax software reviews   Treat gains on short-term federal, state, or local government obligations (other than tax-exempt obligations) as ordinary income up to your ratable share of the acquisition discount. Tax software reviews This treatment applies to obligations with a fixed maturity date not more than 1 year from the date of issue. Tax software reviews Acquisition discount is the stated redemption price at maturity minus your basis in the obligation. Tax software reviews   However, do not treat these gains as income to the extent you previously included the discount in income. Tax software reviews See Discount on Short-Term Obligations in chapter 1 of Publication 550. Tax software reviews Short-term nongovernment obligations. Tax software reviews   Treat gains on short-term nongovernment obligations as ordinary income up to your ratable share of original issue discount (OID). Tax software reviews This treatment applies to obligations with a fixed maturity date of not more than 1 year from the date of issue. Tax software reviews   However, to the extent you previously included the discount in income, you do not have to include it in income again. Tax software reviews See Discount on Short-Term Obligations in chapter 1 of Publication 550. Tax software reviews Tax-exempt state and local government bonds. Tax software reviews   If these bonds were originally issued at a discount before September 4, 1982, or you acquired them before March 2, 1984, treat your part of OID as tax-exempt interest. Tax software reviews To figure your gain or loss on the sale or trade of these bonds, reduce the amount realized by your part of OID. Tax software reviews   If the bonds were issued after September 3, 1982, and acquired after March 1, 1984, increase the adjusted basis by your part of OID to figure gain or loss. Tax software reviews For more information on the basis of these bonds, see Discounted Debt Instruments in chapter 4 of Publication 550. Tax software reviews   Any gain from market discount is usually taxable on disposition or redemption of tax-exempt bonds. Tax software reviews If you bought the bonds before May 1, 1993, the gain from market discount is capital gain. Tax software reviews If you bought the bonds after April 30, 1993, the gain is ordinary income. Tax software reviews   You figure the market discount by subtracting the price you paid for the bond from the sum of the original issue price of the bond and the amount of accumulated OID from the date of issue that represented interest to any earlier holders. Tax software reviews For more information, see Market Discount Bonds in chapter 1 of Publication 550. Tax software reviews    A loss on the sale or other disposition of a tax-exempt state or local government bond is deductible as a capital loss. Tax software reviews Redeemed before maturity. Tax software reviews   If a state or local bond issued before June 9, 1980, is redeemed before it matures, the OID is not taxable to you. Tax software reviews   If a state or local bond issued after June 8, 1980, is redeemed before it matures, the part of OID earned while you hold the bond is not taxable to you. Tax software reviews However, you must report the unearned part of OID as a capital gain. Tax software reviews Example. Tax software reviews On July 2, 2002, the date of issue, you bought a 20-year, 6% municipal bond for $800. Tax software reviews The face amount of the bond was $1,000. Tax software reviews The $200 discount was OID. Tax software reviews At the time the bond was issued, the issuer had no intention of redeeming it before it matured. Tax software reviews The bond was callable at its face amount beginning 10 years after the issue date. Tax software reviews The issuer redeemed the bond at the end of 11 years (July 2, 2013) for its face amount of $1,000 plus accrued annual interest of $60. Tax software reviews The OID earned during the time you held the bond, $73, is not taxable. Tax software reviews The $60 accrued annual interest also is not taxable. Tax software reviews However, you must report the unearned part of OID ($127) as a capital gain. Tax software reviews Long-term debt instruments issued after 1954 and before May 28, 1969 (or before July 2, 1982, if a government instrument). Tax software reviews   If you sell, trade, or redeem for a gain one of these debt instruments, the part of your gain that is not more than your ratable share of the OID at the time of the sale or redemption is ordinary income. Tax software reviews The rest of the gain is capital gain. Tax software reviews If, however, there was an intention to call the debt instrument before maturity, all of your gain that is not more than the entire OID is treated as ordinary income at the time of the sale. Tax software reviews This treatment of taxable gain also applies to corporate instruments issued after May 27, 1969, under a written commitment that was binding on May 27, 1969, and at all times thereafter. Tax software reviews Long-term debt instruments issued after May 27, 1969 (or after July 1, 1982, if a government instrument). Tax software reviews   If you hold one of these debt instruments, you must include a part of OID in your gross income each year you own the instrument. Tax software reviews Your basis in that debt instrument is increased by the amount of OID that you have included in your gross income. Tax software reviews See Original Issue Discount (OID) in chapter 7 for information about OID that you must report on your tax return. Tax software reviews   If you sell or trade the debt instrument before maturity, your gain is a capital gain. Tax software reviews However, if at the time the instrument was originally issued there was an intention to call it before its maturity, your gain generally is ordinary income to the extent of the entire OID reduced by any amounts of OID previously includible in your income. Tax software reviews In this case, the rest of the gain is capital gain. Tax software reviews Market discount bonds. Tax software reviews   If the debt instrument has market discount and you chose to include the discount in income as it accrued, increase your basis in the debt instrument by the accrued discount to figure capital gain or loss on its disposition. Tax software reviews If you did not choose to include the discount in income as it accrued, you must report gain as ordinary interest income up to the instrument's accrued market discount. Tax software reviews The rest of the gain is capital gain. Tax software reviews See Market Discount Bonds in chapter 1 of Publication 550. Tax software reviews   A different rule applies to market discount bonds issued before July 19, 1984, and purchased by you before May 1, 1993. Tax software reviews See Market discount bonds under Discounted Debt Instruments in chapter 4 of Publication 550. Tax software reviews Retirement of debt instrument. Tax software reviews   Any amount you receive on the retirement of a debt instrument is treated in the same way as if you had sold or traded that instrument. Tax software reviews Notes of individuals. Tax software reviews   If you hold an obligation of an individual issued with OID after March 1, 1984, you generally must include the OID in your income currently, and your gain or loss on its sale or retirement is generally capital gain or loss. Tax software reviews An exception to this treatment applies if the obligation is a loan between individuals and all the following requirements are met. Tax software reviews The lender is not in the business of lending money. Tax software reviews The amount of the loan, plus the amount of any outstanding prior loans, is $10,000 or less. Tax software reviews Avoiding federal tax is not one of the principal purposes of the loan. Tax software reviews   If the exception applies, or the obligation was issued before March 2, 1984, you do not include the OID in your income currently. Tax software reviews When you sell or redeem the obligation, the part of your gain that is not more than your accrued share of OID at that time is ordinary income. Tax software reviews The rest of the gain, if any, is capital gain. Tax software reviews Any loss on the sale or redemption is capital loss. Tax software reviews Deposit in Insolvent or Bankrupt Financial Institution If you lose money you have on deposit in a bank, credit union, or other financial institution that becomes insolvent or bankrupt, you may be able to deduct your loss in one of three ways. Tax software reviews Ordinary loss. Tax software reviews Casualty loss. Tax software reviews Nonbusiness bad debt (short-term capital loss). Tax software reviews  For more information, see Deposit in Insolvent or Bankrupt Financial Institution, in chapter 4 of Publication 550. Tax software reviews Sale of Annuity The part of any gain on the sale of an annuity contract before its maturity date that is based on interest accumulated on the contract is ordinary income. Tax software reviews Losses on Section 1244 (Small Business) Stock You can deduct as an ordinary loss, rather than as a capital loss, your loss on the sale, trade, or worthlessness of section 1244 stock. Tax software reviews Report the loss on Form 4797, line 10. Tax software reviews Any gain on section 1244 stock is a capital gain if the stock is a capital asset in your hands. Tax software reviews Report the gain on Form 8949. Tax software reviews See Losses on Section 1244 (Small Business) Stock in chapter 4 of Publication 550. Tax software reviews For more information on Form 8949 and Schedule D (Form 1040), see Reporting Capital Gains and Losses in chapter 16. Tax software reviews See also Schedule D (Form 1040), Form 8949, and their separate instructions. Tax software reviews Holding Period If you sold or traded investment property, you must determine your holding period for the property. Tax software reviews Your holding period determines whether any capital gain or loss was a short-term or long-term capital gain or loss. Tax software reviews Long-term or short-term. Tax software reviews   If you hold investment property more than 1 year, any capital gain or loss is a long-term capital gain or loss. Tax software reviews If you hold the property 1 year or less, any capital gain or loss is a short-term capital gain or loss. Tax software reviews   To determine how long you held the investment property, begin counting on the date after the day you acquired the property. Tax software reviews The day you disposed of the property is part of your holding period. Tax software reviews Example. Tax software reviews If you bought investment property on February 6, 2012, and sold it on February 6, 2013, your holding period is not more than 1 year and you have a short-term capital gain or loss. Tax software reviews If you sold it on February 7, 2013, your holding period is more than 1 year and you will have a long-term capital gain or loss. Tax software reviews Securities traded on established market. Tax software reviews   For securities traded on an established securities market, your holding period begins the day after the trade date you bought the securities, and ends on the trade date you sold them. Tax software reviews    Do not confuse the trade date with the settlement date, which is the date by which the stock must be delivered and payment must be made. Tax software reviews Example. Tax software reviews You are a cash method, calendar year taxpayer. Tax software reviews You sold stock at a gain on December 30, 2013. Tax software reviews According to the rules of the stock exchange, the sale was closed by delivery of the stock 4 trading days after the sale, on January 6, 2014. Tax software reviews You received payment of the sales price on that same day. Tax software reviews Report your gain on your 2013 return, even though you received the payment in 2014. Tax software reviews The gain is long term or short term depending on whether you held the stock more than 1 year. Tax software reviews Your holding period ended on December 30. Tax software reviews If you had sold the stock at a loss, you would also report it on your 2013 return. Tax software reviews U. Tax software reviews S. Tax software reviews Treasury notes and bonds. Tax software reviews   The holding period of U. Tax software reviews S. Tax software reviews Treasury notes and bonds sold at auction on the basis of yield starts the day after the Secretary of the Treasury, through news releases, gives notification of acceptance to successful bidders. Tax software reviews The holding period of U. Tax software reviews S. Tax software reviews Treasury notes and bonds sold through an offering on a subscription basis at a specified yield starts the day after the subscription is submitted. Tax software reviews Automatic investment service. Tax software reviews   In determining your holding period for shares bought by the bank or other agent, full shares are considered bought first and any fractional shares are considered bought last. Tax software reviews Your holding period starts on the day after the bank's purchase date. Tax software reviews If a share was bought over more than one purchase date, your holding period for that share is a split holding period. Tax software reviews A part of the share is considered to have been bought on each date that stock was bought by the bank with the proceeds of available funds. Tax software reviews Nontaxable trades. Tax software reviews   If you acquire investment property in a trade for other investment property and your basis for the new property is determined, in whole or in part, by your basis in the old property, your holding period for the new property begins on the day following the date you acquired the old property. Tax software reviews Property received as a gift. Tax software reviews   If you receive a gift of property and your basis is determined by the donor's adjusted basis, your holding period is considered to have started on the same day the donor's holding period started. Tax software reviews   If your basis is determined by the fair market value of the property, your holding period starts on the day after the date of the gift. Tax software reviews Inherited property. Tax software reviews   Generally, if you inherited investment property, your capital gain or loss on any later disposition of that property is long-term capital gain or loss. Tax software reviews This is true regardless of how long you actually held the property. Tax software reviews However, if you inherited property from someone who died in 2010, see the information below. Tax software reviews Inherited property from someone who died in 2010. Tax software reviews   If you inherit investment property from a decedent who died in 2010, and the executor of the decedent's estate made the election to file Form 8939, refer to the information provided by the executor or see Publication 4895, Tax Treatment of Property Acquired From a Decedent Dying in 2010, to determine your holding period. Tax software reviews Real property bought. Tax software reviews   To figure how long you have held real property bought under an unconditional contract, begin counting on the day after you received title to it or on the day after you took possession of it and assumed the burdens and privileges of ownership, whichever happened first. Tax software reviews However, taking delivery or possession of real property under an option agreement is not enough to start the holding period. Tax software reviews The holding period cannot start until there is an actual contract of sale. Tax software reviews The holding period of the seller cannot end before that time. Tax software reviews Real property repossessed. Tax software reviews   If you sell real property but keep a security interest in it, and then later repossess the property under the terms of the sales contract, your holding period for a later sale includes the period you held the property before the original sale and the period after the repossession. Tax software reviews Your holding period does not include the time between the original sale and the repossession. Tax software reviews That is, it does not include the period during which the first buyer held the property. Tax software reviews Stock dividends. Tax software reviews   The holding period for stock you received as a taxable stock dividend begins on the date of distribution. Tax software reviews   The holding period for new stock you received as a nontaxable stock dividend begins on the same day as the holding period of the old stock. Tax software reviews This rule also applies to stock acquired in a “spin-off,” which is a distribution of stock or securities in a controlled corporation. Tax software reviews Nontaxable stock rights. Tax software reviews   Your holding period for nontaxable stock rights begins on the same day as the holding period of the underlying stock. Tax software reviews The holding period for stock acquired through the exercise of stock rights begins on the date the right was exercised. Tax software reviews Nonbusiness Bad Debts If someone owes you money that you cannot collect, you have a bad debt. Tax software reviews You may be able to deduct the amount owed to you when you figure your tax for the year the debt becomes worthless. Tax software reviews Generally, nonbusiness bad debts are bad debts that did not come from operating your trade or business, and are deductible as short-term capital losses. Tax software reviews To be deductible, nonbusiness bad debts must be totally worthless. Tax software reviews You cannot deduct a partly worthless nonbusiness debt. Tax software reviews Genuine debt required. Tax software reviews   A debt must be genuine for you to deduct a loss. Tax software reviews A debt is genuine if it arises from a debtor-creditor relationship based on a valid and enforceable obligation to repay a fixed or determinable sum of money. Tax software reviews Basis in bad debt required. Tax software reviews    To deduct a bad debt, you must have a basis in it—that is, you must have already included the amount in your income or loaned out your cash. Tax software reviews For example, you cannot claim a bad debt deduction for court-ordered child support not paid to you by your former spouse. Tax software reviews If you are a cash method taxpayer (as most individuals are), you generally cannot take a bad debt deduction for unpaid salaries, wages, rents, fees, interest, dividends, and similar items. Tax software reviews When deductible. Tax software reviews   You can take a bad debt deduction only in the year the debt becomes worthless. Tax software reviews You do not have to wait until a debt is due to determine whether it is worthless. Tax software reviews A debt becomes worthless when there is no longer any chance that the amount owed will be paid. Tax software reviews   It is not necessary to go to court if you can show that a judgment from the court would be uncollectible. Tax software reviews You must only show that you have taken reasonable steps to collect the debt. Tax software reviews Bankruptcy of your debtor is generally good evidence of the worthlessness of at least a part of an unsecured and unpreferred debt. Tax software reviews How to report bad debts. Tax software reviews    Deduct nonbusiness bad debts as short-term capital losses on Form 8949. Tax software reviews    Make sure you report your bad debt(s) (and any other short-term transactions for which you did not receive a Form 1099-B) on Form 8949, Part I, with box C checked. Tax software reviews    For more information on Form 8949 and Schedule D (Form 1040), see Reporting Capital Gains and Losses in chapter 16. Tax software reviews See also Schedule D (Form 1040), Form 8949, and their separate instructions. Tax software reviews   For each bad debt, attach a statement to your return that contains: A description of the debt, including the amount, and the date it became due, The name of the debtor, and any business or family relationship between you and the debtor, The efforts you made to collect the debt, and Why you decided the debt was worthless. Tax software reviews For example, you could show that the borrower has declared bankruptcy, or that legal action to collect would probably not result in payment of any part of the debt. Tax software reviews Filing a claim for refund. Tax software reviews    If you do not deduct a bad debt on your original return for the year it becomes worthless, you can file a claim for a credit or refund due to the bad debt. Tax software reviews To do this, use Form 1040X to amend your return for the year the debt became worthless. Tax software reviews 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 software reviews For more information about filing a claim, see Amended Returns and Claims for Refund in chapter 1. Tax software reviews Additional information. Tax software reviews   For more information, see Nonbusiness Bad Debts in Publication 550. Tax software reviews For information on business bad debts, see chapter 10 of Publication 535, Business Expenses. Tax software reviews Wash Sales You cannot deduct losses from sales or trades of stock or securities in a wash sale. Tax software reviews A wash sale occurs when you sell or trade stock or securities at a loss and within 30 days before or after the sale you: Buy substantially identical stock or securities, Acquire substantially identical stock or securities in a fully taxable trade, Acquire a contract or option to buy substantially identical stock or securities, or Acquire substantially identical stock for your individual retirement account (IRA) or Roth IRA. Tax software reviews If your loss was disallowed because of the wash sale rules, add the disallowed loss to the cost of the new stock or securities (except in (4) above). Tax software reviews The result is your basis in the new stock or securities. Tax software reviews This adjustment postpones the loss deduction until the disposition of the new stock or securities. Tax software reviews Your holding period for the new stock or securities includes the holding period of the stock or securities sold. Tax software reviews For more information, see Wash Sales, in chapter 4 of Publication 550. Tax software reviews Rollover of Gain From Publicly Traded Securities You may qualify for a tax-free rollover of certain gains from the sale of publicly traded securities. Tax software reviews This means that if you buy certain replacement property and make the choice described in this section, you postpone part or all of your gain. Tax software reviews You postpone the gain by adjusting the basis of the replacement property as described in Basis of replacement property , later. Tax software reviews This postpones your gain until the year you dispose of the replacement property. Tax software reviews You qualify to make this choice if you meet all the following tests. Tax software reviews You sell publicly traded securities at a gain. Tax software reviews Publicly traded securities are securities traded on an established securities market. Tax software reviews Your gain from the sale is a capital gain. Tax software reviews During the 60-day period beginning on the date of the sale, you buy replacement property. Tax software reviews This replacement property must be either common stock of, or a partnership interest in a specialized small business investment company (SSBIC). Tax software reviews This is any partnership or corporation licensed by the Small Business Administration under section 301(d) of the Small Business Investment Act of 1958, as in effect on May 13, 1993. Tax software reviews Amount of gain recognized. Tax software reviews   If you make the choice described in this section, you must recognize gain only up to the following amount. Tax software reviews The amount realized on the sale, minus The cost of any common stock or partnership interest in an SSBIC that you bought during the 60-day period beginning on the date of sale (and did not previously take into account on an earlier sale of publicly traded securities). Tax software reviews  If this amount is less than the amount of your gain, you can postpone the rest of your gain, subject to the limit described next. Tax software reviews If this amount is equal to or more than the amount of your gain, you must recognize the full amount of your gain. Tax software reviews Limit on gain postponed. Tax software reviews   The amount of gain you can postpone each year is limited to the smaller of: $50,000 ($25,000 if you are married and file a separate return), or $500,000 ($250,000 if you are married and file a separate return), minus the amount of gain you postponed for all earlier years. Tax software reviews Basis of replacement property. Tax software reviews   You must subtract the amount of postponed gain from the basis of your replacement property. Tax software reviews How to report and postpone gain. Tax software reviews    See How to report and postpone gain under Rollover of Gain From Publicly Traded Securities in chapter 4 of Publication 550 for details. Tax software reviews Prev  Up  Next   Home   More Online Publications
 
Print - Click this link to Print this page

Address Changes

Question: Should I notify the IRS of my change of address?

Answer:

Yes, if you move, you should notify the IRS of your new address. We need to change our records so that any tax refunds due to you or any other IRS communications will reach you in a timely manner.  If you filed a joint return, you should provide the same information and signatures for both spouses. If you filed a joint return and you and/or your spouse have since established separate residences, you both should notify the IRS of your new addresses.

There are several ways to notify the IRS of an address change:

  • Tax Return: Update your address in the appropriate boxes on your tax return;
  • Submit a Form: Form 8822 (PDF), Change of Address, and/or Form 8822-B (PDF), Change of Address - Business;
  • Written Notification: Mail a signed written statement to an appropriate Service address informing the Service that you wish that the address of record be changed to a new address.  Generally, the appropriate Service address is the campus where you filed your last return.  In addition to the new address, this notification must contain your full name and old address as well as your social security number, individual taxpayer identification number, or employer identification number;
  • Oral Notification: Provide an oral statement in person or directly via telephone to a Service employee who has access to the Service Master File informing the Service employee of the address change. In addition to the new address, you must provide your full name and old address as well as your social security number, individual taxpayer identification number, or employee identification number;
  • Electronic Notification: Many taxpayers may submit their new address information through one of the secure applications found on the IRS website, such as Where’s My Refund?.  In addition to the new address, you must also provide your social security number, individual taxpayer identification number, or employer identification number, as well as any additional information requested by the specific application. You cannot notify the IRS of an address change through other forms of electronic notification, such as electronic mail sent to an IRS email address.

Note: The IRS may also update your address of record based on any new address you provide to the U.S. Postal Service (USPS) that the USPS retains in its National Change of Address (NCOA) database.  However, even if you notify USPS of your new address, you should still notify the IRS directly.  Because not all post offices forward government checks, notifying the post office that services your old address ensures that your mail will be forwarded, but not necessarily your refund check.

Caution:  If you are a representative signing on behalf of the taxpayer, you must attach to the written statement or to Forms 8822/8822-B a copy of your power of attorney.  You can use Form 2848 (PDF), Power of Attorney and Declaration of Representative.  The IRS will not complete an address change from an "unauthorized" third party.


Category: IRS Procedures
Subcategory: Address Changes

Please provide your feedback.

1. Was it easy to find your information within the above Frequently Asked Question?

2. How satisfied are you with the information provided within the above Frequently Asked Question?

3. If you still need help from the IRS, what would your next step be?




The OMB number for this study is 1545-1432.
If you have any comments regarding this study, please write to:
IRS, Tax Products Coordinating Committee
SE:W:CAR:MP:T:T:SP
1111 Constitution Avenue NW
Washington, DC 20224

The Tax Software Reviews

Tax software reviews Index A Accounting method Accrual, Accrual Method, Accrual method. Tax software reviews Automatic procedures, Automatic change procedures. Tax software reviews Cash, Cash Method, Cash method. Tax software reviews Change in, Change in Accounting Method Combination, Combination Method Special, Special Methods Accounting periods, Accounting Periods Accrual method Income - general rule, Income—General Rule Income - special rules, Income—Special Rules Of accounting, Accrual Method Adjusted basis, Adjusted basis. Tax software reviews Administrator, Executor or administrator. Tax software reviews Alternative fuel vehicle refueling property credit, Alternative fuel vehicle refueling property credit (Form 8911). Tax software reviews Alternative motor vehicle credit, Alternative motor vehicle credit (Form 8910). Tax software reviews Appeal rights, Appeals. Tax software reviews Appreciation, Appreciation. Tax software reviews Audits, Examinations (audits). Tax software reviews Automobile (see Car expenses) B Bad debts, Bad Debts Barter income, Bartering for Property or Services Basis of property, Basis. Tax software reviews Bribes, Expenses You Cannot Deduct Business expenses, Business Expenses Business income, Business Income Business use of your home, Business Use of Your Home C Canceled debt, Canceled Debt Cancellation of qualified real property business debt, Cancellation of qualified real property business debt. Tax software reviews Capital gain or loss, Is My Gain or Loss Ordinary or Capital? Car expenses, Car and Truck Expenses, Methods for Deducting Car and Truck Expenses Carbon dioxide sequestration credit, Carbon dioxide sequestration credit (Form 8933). Tax software reviews Cash discount, Cash discounts. Tax software reviews , Cash discounts. Tax software reviews Cash method Expenses, Expenses Income, Income Changing accounting method, Changing accounting method. Tax software reviews Charitable contributions, Expenses You Cannot Deduct Child employed by parent, Child employed by parent. Tax software reviews Claim for refund, Refunds. Tax software reviews Collection of tax, Collections. Tax software reviews Combination method of accounting, Combination Method Comments on publication, Comments and suggestions. Tax software reviews Condemned property, Condemned property. Tax software reviews Consignments, Consignments. Tax software reviews Construction allowances, Construction allowances. Tax software reviews Cost of goods sold, How To Figure Cost of Goods Sold Credit Alternative fuel vehicle refueling property, Alternative fuel vehicle refueling property credit (Form 8911). Tax software reviews Alternative motor vehicle, Alternative motor vehicle credit (Form 8910). Tax software reviews Carbon dioxide sequestration, Carbon dioxide sequestration credit (Form 8933). Tax software reviews Disabled access, Disabled access credit (Form 8826). Tax software reviews Distilled spirits, Distilled spirits credit (Form 8906). Tax software reviews Employer-provided childcare, Credit for employer-provided childcare facilities and services (Form 8882). Tax software reviews How to claim, How To Claim the Credit Indian coal, Renewable electricity, refined coal, and Indian coal production credit (Form 8835). Tax software reviews Investment, Investment credit (Form 3468). Tax software reviews Low sulfur diesel fuel production, Low sulfur diesel fuel production credit (Form 8896). Tax software reviews Low-income housing, Low-income housing credit (Form 8586). Tax software reviews New markets, New markets credit (Form 8874). Tax software reviews Nonconventional source fuel, Nonconventional source fuel credit (Form 8907). Tax software reviews Orphan drug, Orphan drug credit (Form 8820). Tax software reviews Qualified plug-in electric drive motor vehicle, Qualified plug-in electric drive motor vehicle credit (Form 8936). Tax software reviews Refined coal, Renewable electricity, refined coal, and Indian coal production credit (Form 8835). Tax software reviews Renewable electricity, Renewable electricity, refined coal, and Indian coal production credit (Form 8835). Tax software reviews Small employer health insurance premiums, Credit for small employer health insurance premiums (Form 8941). Tax software reviews Small employer pension plan startup costs, Credit for small employer pension plan startup costs (Form 8881). Tax software reviews Taxes paid on certain employee tips, Credit for employer social security and Medicare taxes paid on certain employee tips (Form 8846). Tax software reviews Work opportunity, Work opportunity credit (Form 5884). Tax software reviews D Damages, Damages. Tax software reviews Debt Bad, Bad Debts Canceled, Canceled Debt Qualified real property business, Qualified real property business debt. Tax software reviews Refund offset against, Offset against debts. Tax software reviews Definitions Accounting methods, Accounting Methods Accounting periods, Accounting Periods Barter, Bartering for Property or Services Basis, Basis. Tax software reviews Business bad debt, Business bad debt. Tax software reviews Calendar tax year, Calendar tax year. Tax software reviews Cash discount, Cash discounts. Tax software reviews , Cash discounts. Tax software reviews Disposition of property, What Is a Disposition of Property? Drawing account, Merchandise withdrawn from sale. Tax software reviews Entertainment expenses, Entertainment expenses. Tax software reviews Fair market value, Fair market value. Tax software reviews Fiscal tax year, Fiscal tax year. Tax software reviews Fringe benefit, Fringe benefits. Tax software reviews Local transportation expenses, Local transportation expenses. Tax software reviews Necessary expense, Introduction Net operating loss, Net Operating Losses (NOLs) Nonbusiness bad debt, Nonbusiness bad debts. Tax software reviews Ordinary expense, Introduction Principal place of business, Principal place of business. Tax software reviews Qualified long-term real property, Qualified long-term real property. Tax software reviews Qualified real property business debt, Cancellation of qualified real property business debt. Tax software reviews Rent, Rent Expense Restricted property, Other Income Retail space, Retail space. Tax software reviews Self-employment (SE) tax, Self-Employment (SE) Tax Sole proprietor, Sole proprietor. Tax software reviews Tax home, Local transportation expenses. Tax software reviews Trade discount, Trade discounts. Tax software reviews , Cash discounts. Tax software reviews Travel expenses, Travel, Meals, and Entertainment Depreciation Deduction, Depreciation Listed property, Listed property. Tax software reviews Depreciation, recapture, Recapture of depreciation. Tax software reviews Direct seller, Direct seller. Tax software reviews , Real estate agent or direct seller. Tax software reviews Disabled access credit, Disabled access credit (Form 8826). Tax software reviews Disposition of property Business property, Introduction Installment sale, Installment sales. Tax software reviews , Installment sales. Tax software reviews Like-kind exchange, Like-kind exchanges. Tax software reviews , Like-kind exchanges. Tax software reviews , Exchange of like-kind property. Tax software reviews Nontaxable exchange, Nontaxable exchanges. Tax software reviews Sale of a business, Sale of a business. Tax software reviews Distilled spirits credit, Distilled spirits credit (Form 8906). Tax software reviews Dividend income, Interest and Dividend Income Donation of inventory, Donation of inventory. Tax software reviews Drawing account, Merchandise withdrawn from sale. Tax software reviews Due date of return, When Is My Tax Return Due? E e-file, IRS e-file (Electronic Filing) Economic injury, Economic injury. Tax software reviews EFTPS, EFTPS Electronic filing, IRS e-file (Electronic Filing) Employee, Employee. Tax software reviews Employee benefit programs, Fringe benefits. Tax software reviews Employees' pay, Employees' Pay Employer identification number (EIN), Employer identification number (EIN). Tax software reviews Employment taxes About, Employment Taxes Deduction for, Employment taxes. Tax software reviews Entertainment expenses, Entertainment expenses. Tax software reviews (see Travel expenses) Escrow, payments placed in, Payment placed in escrow. Tax software reviews Estimated tax, How Do I Pay Income Tax? Examinations (audits), Examinations (audits). Tax software reviews Excise taxes About, Excise Taxes Deduction for, Excise taxes. Tax software reviews Executor, Executor or administrator. Tax software reviews Expenses, Business Expenses Bad debts, Bad Debts Car, Car and Truck Expenses Depreciation, Depreciation Employees' pay, Employees' Pay Entertainment, Travel, Meals, and Entertainment Home, business use, Business Use of Your Home Insurance, Insurance Interest, Interest Legal and professional fees, Legal and Professional Fees Meals, Travel, Meals, and Entertainment Nondeductible, Expenses You Cannot Deduct Other, Other Expenses You Can Deduct Pension plans, Pension Plans Rent, Rent Expense Taxes, Taxes Travel, Travel, Meals, and Entertainment Truck, Car and Truck Expenses F Fair market value, Fair market value. Tax software reviews Filing business taxes, Filing and Paying Business Taxes Fishing crew member, Fishing crew member. Tax software reviews , Fishing crew member. Tax software reviews Form 1040 (tax return), How Do I File? 1040-ES (estimated tax), How Do I Pay Income Tax? 1040-V (voucher), Balance due. Tax software reviews 1099-B (barter), Information returns. Tax software reviews 1099-MISC (miscellaneous), Form 1099-MISC. Tax software reviews , Information returns. Tax software reviews 1128 (change tax year), Change in tax year. Tax software reviews 2210 (underpayment of estimated tax), Penalty for underpayment of tax. Tax software reviews 2290 (excise tax for heavy trucks), Form 2290. Tax software reviews 3115 (change accounting method), Change in Accounting Method 3468 (investment credit), Investment credit (Form 3468). Tax software reviews 3800 (general business credit), Useful Items - You may want to see: 4562 (depreciation), Form 4562. Tax software reviews 4684 (casualty and theft), Casualties and thefts. Tax software reviews 4797 (sale of business property), Dispositions of business property and depreciable property. Tax software reviews , Condemned property. Tax software reviews , Listed property. Tax software reviews 4868 (extension), When Is My Tax Return Due? 5884 (work opportunity credit), Work opportunity credit (Form 5884). Tax software reviews 6251 (alternative minimum tax), Useful Items - You may want to see: 6252 (installment sale), Installment sales. Tax software reviews 720 (excise tax return), Form 720. Tax software reviews 8300 (cash payments over $10,000), Form 8300. Tax software reviews 8586 (low-income housing), Low-income housing credit (Form 8586). Tax software reviews 8594 (asset acquisition), Sale of a business. Tax software reviews 8820 (orphan drug credit), Orphan drug credit (Form 8820). Tax software reviews 8824 (like-kind exchange), Like-kind exchanges. Tax software reviews , Like-kind exchanges. Tax software reviews 8826 (disabled access credit), Disabled access credit (Form 8826). Tax software reviews 8829 (business in home), Deduction limit. Tax software reviews 8835 (renewable electricity, coal credit), Renewable electricity, refined coal, and Indian coal production credit (Form 8835). Tax software reviews 8846 (credit for social security on tip income), Credit for employer social security and Medicare taxes paid on certain employee tips (Form 8846). Tax software reviews 8857 (innocent spouse), Innocent spouse relief. Tax software reviews 8874 (new markets credit), New markets credit (Form 8874). Tax software reviews 8879 (self-selected PIN), Using an Authorized IRS e-file Provider 8881 (pension plan startup costs credit), Credit for small employer pension plan startup costs (Form 8881). Tax software reviews 8882 (employer-provided childcare credit), Credit for employer-provided childcare facilities and services (Form 8882). Tax software reviews 8886 (transaction statement), Reminders 8896 (low sulfur diesel fuel production credit), Low sulfur diesel fuel production credit (Form 8896). Tax software reviews 8906 (distilled spirits credit), Distilled spirits credit (Form 8906). Tax software reviews 8907 (nonconventional fuel credit), Nonconventional source fuel credit (Form 8907). Tax software reviews 8910 (alternative vehicle credit), Alternative motor vehicle credit (Form 8910). Tax software reviews , Car and Truck Expenses 8911 (alternative fuel refueling property credit), Alternative fuel vehicle refueling property credit (Form 8911). Tax software reviews 8933 (carbon dioxide sequestration credit), Carbon dioxide sequestration credit (Form 8933). Tax software reviews 8936 (qualified plug-in electric drive motor vehicle), Qualified plug-in electric drive motor vehicle credit (Form 8936). Tax software reviews 8941 (small employer health insurance premiums), Credit for small employer health insurance premiums (Form 8941). Tax software reviews 982 (discharge of indebtedness), Exclusions Schedule C (sole proprietor), How Do I File? Schedule C-EZ (sole proprietor), How Do I File? Schedule SE (self-employment tax), Who must pay self-employment tax. Tax software reviews SS-4 (application for EIN), Employer identification number (EIN). Tax software reviews SS-5 (application for SSN), Social security number (SSN). Tax software reviews W-2 (report wages), Form W-2. Tax software reviews W-4 (employee withholding), Employee. Tax software reviews W-7 (application for ITIN), Individual taxpayer identification number (ITIN). Tax software reviews W-9 (request for TIN), Other payee. Tax software reviews Fringe benefits, Fringe benefits. Tax software reviews Fuel taxes, Fuel taxes. Tax software reviews G Gains and losses, Gains and losses. Tax software reviews General business credits, General Business Credits, Business Credits Gross profit Accuracy, Testing Gross Profit Accuracy Additions to, Additions to Gross Profit Guidelines for selected occupations, Guidelines for Selected Occupations (see also Occupations, selected) H Health insurance, deduction for self-employed, Self-employed health insurance deduction. Tax software reviews Home, business use of, Business Use of Your Home Hotels, boarding houses, and apartments, Hotels, boarding houses, and apartments. Tax software reviews Husband and wife business, Business owned and operated by spouses. Tax software reviews I Identification numbers, Identification Numbers Income, Items That Are Not Income (see also Not income) Accounting for your, Accounting for Your Income Barter, Bartering for Property or Services Business, Business Income Damages, Damages. Tax software reviews Gains and losses, Gains and losses. Tax software reviews Kickbacks, Kickbacks. Tax software reviews Kinds of income, Kinds of Income Lost income payments, Lost income payments. Tax software reviews Other, Other Income Paid to a third party, Income paid to a third party. Tax software reviews Personal property rent, Personal Property Rents Promissory notes, Promissory notes. Tax software reviews Recapture of depreciation, Recapture of depreciation. Tax software reviews Recovery of items previously deducted, Recovery of items previously deducted. Tax software reviews Rental, Real Estate Rents, Personal Property Rents Restricted property, Restricted property. Tax software reviews Income tax About, Income Tax Deduction for, Income taxes. Tax software reviews How to pay, How Do I Pay Income Tax? Underpayment penalty, Penalty for underpayment of tax. Tax software reviews Income tax return, who must file, Do I Have To File an Income Tax Return? Independent contractor, Independent contractor. Tax software reviews , Employment Taxes, Sole proprietor or independent contractor. Tax software reviews Individual taxpayer identification number (ITIN), Individual taxpayer identification number (ITIN). Tax software reviews Information returns, Information Returns Information, How to get more, How To Get More Information Innocent spouse relief, Innocent spouse relief. Tax software reviews Installment sales, Installment sales. Tax software reviews Insurance Expense, Insurance Nondeductible premiums, Nondeductible premiums. Tax software reviews Prepayment, Prepayment. Tax software reviews Proceeds, Insurance proceeds. Tax software reviews Self-employed health, Self-employed health insurance deduction. Tax software reviews Insurance agent Former, Insurance agent, former. Tax software reviews Retired, Insurance agent, retired. Tax software reviews Interest Expenses, Interest Income, Interest and Dividend Income Inventories, Inventories Investment credit, Investment credit (Form 3468). Tax software reviews K Kickbacks, Kickbacks. Tax software reviews , Expenses You Cannot Deduct L Lease bonus, Lease bonus. Tax software reviews Lease cancellation payments, Lease cancellation payments. Tax software reviews Legal fees, Legal and Professional Fees Like-kind exchanges, Like-kind exchanges. Tax software reviews , Exchange of like-kind property. Tax software reviews Limited liability company, Limited liability company (LLC). Tax software reviews Listed property, Listed property. Tax software reviews Lobbying expense, Expenses You Cannot Deduct Local transportation expenses, Local transportation expenses. Tax software reviews Lodging, Meals and lodging. Tax software reviews Long-term capital gain or loss, Is My Capital Gain or Loss Short Term or Long Term? Lost income payments, Lost income payments. Tax software reviews Low sulfur diesel fuel production credit, Low sulfur diesel fuel production credit (Form 8896). Tax software reviews Low-income housing credit, Low-income housing credit (Form 8586). Tax software reviews M Meals, Meals and lodging. Tax software reviews (see Travel expenses) Methods for figuring net earnings, Methods for Figuring Net Earnings Mileage rate for vehicles, Standard mileage rate. Tax software reviews Motor vehicle, alternative credit, Alternative motor vehicle credit (Form 8910). Tax software reviews N Net operating losses, Net Operating Losses (NOLs) Net profit or loss, Introduction New markets credit, New markets credit (Form 8874). Tax software reviews Newspaper carrier or distributor, Newspaper carrier or distributor. Tax software reviews Newspaper or magazine vendor, Newspaper or magazine vendor. Tax software reviews Nonbusiness bad debt, Nonbusiness bad debts. Tax software reviews Nonconventional source fuel credit, Nonconventional source fuel credit (Form 8907). Tax software reviews Nondeductible insurance premiums, Nondeductible premiums. Tax software reviews Nonemployee compensation, Introduction Nontaxable exchanges, Nontaxable exchanges. Tax software reviews Not income Appreciation, Appreciation. Tax software reviews Consignments, Consignments. Tax software reviews Constructions allowances, Construction allowances. Tax software reviews Exchange of like-kind property, Exchange of like-kind property. Tax software reviews Leasehold improvements, Leasehold improvements. Tax software reviews Loans, Loans. Tax software reviews Sales tax, Sales tax. Tax software reviews Not-for-profit activities, Not-for-Profit Activities Notary public, Notary public. Tax software reviews , Notary public. Tax software reviews O Occupations, selected Administrator, Executor or administrator. Tax software reviews Direct seller, Direct seller. Tax software reviews , Real estate agent or direct seller. Tax software reviews Executor, Executor or administrator. Tax software reviews Fishing crew member, Fishing crew member. Tax software reviews Insurance agent, former, Insurance agent, former. Tax software reviews Insurance agent, retired, Insurance agent, retired. Tax software reviews Newspaper carrier or distributor, Newspaper carrier or distributor. Tax software reviews Newspaper or magazine vendor, Newspaper or magazine vendor. Tax software reviews Notary public, Notary public. Tax software reviews Public official, Public official. Tax software reviews Real estate agent, Real estate agent or direct seller. Tax software reviews Securities dealer, Securities dealer. Tax software reviews Securities trader, Securities trader. Tax software reviews Office in the home, Office in the home. Tax software reviews (see also Business use of your home) Optional methods, using both, Using Both Optional Methods Ordinary gain or loss, Is My Gain or Loss Ordinary or Capital? Orphan drug credit, Orphan drug credit (Form 8820). Tax software reviews P Parking fees, Parking fees and tolls. Tax software reviews Partners, husband and wife, Business owned and operated by spouses. Tax software reviews Pay, kinds of, Kinds of pay. Tax software reviews Paying Business taxes, Filing and Paying Business Taxes Income tax, How Do I Pay Income Tax? Payments to third parties, Payments to third parties. Tax software reviews Penalties and fines, Expenses You Cannot Deduct Penalty Failure to file Form 8300, Penalties. Tax software reviews Failure to file information returns, Penalties. Tax software reviews Failure to furnish correct payee statements, Penalties. Tax software reviews Underpayment of tax, Penalty for underpayment of tax. Tax software reviews Waiver of, Waiver of penalties. Tax software reviews Pension plans, Pension Plans Personal property tax, Personal property tax. Tax software reviews Prepaid expense Extends useful life, Prepayment. Tax software reviews Rent, Rent paid in advance. Tax software reviews Professional fees, Legal and Professional Fees Promissory notes, Promissory notes. Tax software reviews Public official, Public official. Tax software reviews Punitive damages, Punitive damages. Tax software reviews Q Qualified plug-in electric drive motor vehicle credit, Qualified plug-in electric drive motor vehicle credit (Form 8936). Tax software reviews Qualified real property business debt, Qualified real property business debt. Tax software reviews R Real estate Agent, Real estate agent or direct seller. Tax software reviews Dealer, Real estate dealer. Tax software reviews Rent, Real Estate Rents Taxes, Real estate taxes. Tax software reviews Recovery of items previously deducted, Recovery of items previously deducted. Tax software reviews Refund Inquiries, Refund inquiries. Tax software reviews Offsets against debts, Offset against debts. Tax software reviews Related persons Unreasonable rent, Unreasonable rent. Tax software reviews Renewable electricity, refined coal, and Indian coal production credit, Renewable electricity, refined coal, and Indian coal production credit (Form 8835). Tax software reviews Rent expense, Rent Expense Rental income, Real Estate Rents Repayment of income, Repayment of income. Tax software reviews Reportable transaction disclosure statement, Reminders Reporting self-employment tax, Reporting Self-Employment Tax Restricted property, Restricted property. Tax software reviews Retirement plans (see Pension plans) S Salaries, Employees' Pay Sale of a business, Sale of a business. Tax software reviews Sale of property, What Is a Disposition of Property? (see also Disposition of property) Sales of assets, Introduction Sales tax, Sales tax. Tax software reviews Schedule C, How Do I File? Schedule C-EZ, How Do I File? Schedule SE (Form 1040), Who must pay self-employment tax. Tax software reviews Schedule SE, filing requirement, Reporting Self-Employment Tax SE tax About, Self-Employment (SE) Tax Aliens, Aliens. Tax software reviews Child employed by parent, Child employed by parent. Tax software reviews Church employee, Church employee. Tax software reviews Community property income, Community Property Income Deduction for, Self-employment tax. Tax software reviews Earning credits, Earning credits in 2013 and 2014. Tax software reviews Effects of using an optional method, Effects of using an optional method. Tax software reviews Farm optional method, Farm Optional Method Fiscal year filer, Fiscal Year Filer Fishing crew member, Fishing crew member. Tax software reviews Gain or loss, Gain or Loss Government employee, State or local government employee. Tax software reviews , Foreign government or international organization employee. Tax software reviews Joint return, Joint return. Tax software reviews Lost income payments, Lost Income Payments Maximum earnings For 2011, What's New for 2013, Maximum earnings subject to SE tax. Tax software reviews Subject to, Maximum earnings subject to self-employment tax. Tax software reviews Methods for figuring net earnings, Methods for Figuring Net Earnings More than one business, More Than One Business, More than one business. Tax software reviews Nonfarm optional method, Nonfarm Optional Method Notary public, Notary public. Tax software reviews Optional methods Farm, Farm Optional Method Nonfarm, Nonfarm Optional Method Rate, SE tax rate. Tax software reviews Regular method, Regular Method Residing abroad, U. Tax software reviews S. Tax software reviews citizen or resident alien residing abroad. Tax software reviews Special rules and exceptions, Special Rules and Exceptions Tax rate, SE tax rate. Tax software reviews Time limit for posting income, The Social Security Administration (SSA) time limit for posting self-employment income. Tax software reviews Who must pay, Who Must Pay SE Tax? Why use an optional method, Why use an optional method? Section 179 Deduction, Section 179 deduction. Tax software reviews Property, Section 179 property. Tax software reviews Securities Dealer, Securities dealer. Tax software reviews Trader, Securities trader. Tax software reviews Self-employed health insurance deduction, Self-employed health insurance deduction. Tax software reviews Self-employment tax (see SE tax) Settlement payments, Settlement payments. Tax software reviews Short-term capital gain or loss, Is My Capital Gain or Loss Short Term or Long Term? Signature, electronic, Electronic signatures. Tax software reviews Small Business Administration, Small Business Administration Small employer health insurance premiums credit, Credit for small employer health insurance premiums (Form 8941). Tax software reviews Social security coverage, Social security coverage. Tax software reviews Social security number (SSN), Social security number (SSN). Tax software reviews Sole proprietor, Sole proprietor. Tax software reviews , Sole proprietor or independent contractor. Tax software reviews Sport utility vehicle, Section 179 deduction. Tax software reviews Standard mileage rate, Standard mileage rate. Tax software reviews For 2011, What's New for 2013 Statutory employee, Statutory employee. Tax software reviews Suggestions for publication, Comments and suggestions. Tax software reviews SUV, Section 179 deduction. Tax software reviews T Tax home, Local transportation expenses. Tax software reviews , Travel expenses. Tax software reviews Tax preparation fees, Tax preparation fees. Tax software reviews Tax refund Claim for, Refunds. Tax software reviews Offset against debts, Offset against debts. Tax software reviews Tax return How to file, How Do I File? Who must file, Do I Have To File an Income Tax Return? Tax year, Accounting Periods Calendar, Calendar tax year. Tax software reviews Change in, Change in tax year. Tax software reviews Fiscal, Fiscal tax year. Tax software reviews Taxes Deduction for, Taxes Employment, Employment Taxes, Employment taxes. Tax software reviews Excise, Excise Taxes, Excise taxes. Tax software reviews Fuel, Fuel taxes. Tax software reviews Income, Income Tax, Income taxes. Tax software reviews Paid on certain employee tips, Credit for employer social security and Medicare taxes paid on certain employee tips (Form 8846). Tax software reviews Personal property, Personal property tax. Tax software reviews Real estate, Real estate taxes. Tax software reviews Sales, Sales tax. Tax software reviews Self-employment, Self-Employment (SE) Tax, Self-employment tax. Tax software reviews Taxpayer rights, Declaration of Taxpayer Rights Third parties, Payments to, Payments to third parties. Tax software reviews Tolls, Parking fees and tolls. Tax software reviews Trade discount, Trade discounts. Tax software reviews , Trade discounts. Tax software reviews Trade or business, Trade or business. Tax software reviews Trailer park owner, Trailer park owner. Tax software reviews Transportation expenses, Local transportation expenses. Tax software reviews Travel expenses, Travel expenses. Tax software reviews U Underpayment of tax penalty, Penalty for underpayment of tax. Tax software reviews Uniform capitalization rules, Uniform Capitalization Rules W Wages, Employees' Pay Work opportunity credit, Work opportunity credit (Form 5884). Tax software reviews Prev  Up     Home   More Online Publications