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2012 Tax Filing Online

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2012 Tax Filing Online

2012 tax filing online 12. 2012 tax filing online   How To Get More Information Table of Contents Internal Revenue ServiceLow Income Taxpayer Clinics (LITCs) Small Business Administration Other Federal Agencies This section describes the help the IRS and other federal agencies offer to taxpayers who operate their own businesses. 2012 tax filing online Internal Revenue Service Whether it's help with a tax issue, preparing your tax return or a need for a free publication or form, get the help you need the way you want it: online, use a smart phone, call or walk in to an IRS office or volunteer site near you. 2012 tax filing online Free help with your return. 2012 tax filing online   You can get free help preparing your return nationwide from IRS-certified volunteers. 2012 tax filing online The Volunteer Income Tax Assistance (VITA) program helps low-to-moderate income, elderly, people with disabilities, and limited English proficient taxpayers. 2012 tax filing online The Tax Counseling for the Elderly (TCE) program helps taxpayers age 60 and older with their tax returns. 2012 tax filing online Most VITA and TCE sites offer free electronic filing and all volunteers will let you know about credits and deductions you may be entitled to claim. 2012 tax filing online In addition, some VITA and TCE sites provide taxpayers the opportunity to prepare their own return with help from an IRS-certified volunteer. 2012 tax filing online To find the nearest VITA or TCE site, you can use the VITA Locator Tool on IRS. 2012 tax filing online gov, download the IRS2Go app, or call 1-800-906-9887. 2012 tax filing online   As part of the TCE program, AARP offers the Tax-Aide counseling program. 2012 tax filing online To find the nearest AARP Tax-Aide site, visit AARP's website at www. 2012 tax filing online aarp. 2012 tax filing online org/money/taxaide or call 1-888-227-7669. 2012 tax filing online For more information on these programs, go to IRS. 2012 tax filing online gov and enter “VITA” in the search box. 2012 tax filing online Internet. 2012 tax filing online    IRS. 2012 tax filing online gov and IRS2Go are ready when you are —24 hours a day, 7 days a week. 2012 tax filing online Download the free IRS2Go app from the iTunes app store or from Google Play. 2012 tax filing online Use it to check your refund status, order transcripts of your tax returns or tax account, watch the IRS YouTube channel, get IRS news as soon as it's released to the public, subscribe to filing season updates or daily tax tips, and follow the IRS Twitter news feed, @IRSnews, to get the latest federal tax news, including information about tax law changes and important IRS programs. 2012 tax filing online Check the status of your 2013 refund with the Where's My Refund? application on IRS. 2012 tax filing online gov or download the IRS2Go app and select the Refund Status option. 2012 tax filing online The IRS issues more than 9 out of 10 refunds in less than 21 days. 2012 tax filing online Using these applications, you can start checking on the status of your return within 24 hours after we receive your e-filed return or 4 weeks after you mail a paper return. 2012 tax filing online You will also be given a personalized refund date as soon as the IRS processes your tax return and approves your refund. 2012 tax filing online The IRS updates Where's My Refund? every 24 hours, usually overnight, so you only need to check once a day. 2012 tax filing online Use the Interactive Tax Assistant (ITA) to research your tax questions. 2012 tax filing online No need to wait on the phone or stand in line. 2012 tax filing online The ITA is available 24 hours a day, 7 days a week, and provides you with a variety of tax information related to general filing topics, deductions, credits, and income. 2012 tax filing online When you reach the response screen, you can print the entire interview and the final response for your records. 2012 tax filing online New subject areas are added on a regular basis. 2012 tax filing online  Answers not provided through ITA may be found in Tax Trails, one of the Tax Topics on IRS. 2012 tax filing online gov which contain general individual and business tax information or by searching the IRS Tax Map, which includes an international subject index. 2012 tax filing online You can use the IRS Tax Map, to search publications and instructions by topic or keyword. 2012 tax filing online The IRS Tax Map integrates forms and publications into one research tool and provides single-point access to tax law information by subject. 2012 tax filing online When the user searches the IRS Tax Map, they will be provided with links to related content in existing IRS publications, forms and instructions, questions and answers, and Tax Topics. 2012 tax filing online Coming this filing season, you can immediately view and print for free all 5 types of individual federal tax transcripts (tax returns, tax account, record of account, wage and income statement, and certification of non-filing) using Get Transcript. 2012 tax filing online You can also ask the IRS to mail a return or an account transcript to you. 2012 tax filing online Only the mail option is available by choosing the Tax Records option on the IRS2Go app by selecting Mail Transcript on IRS. 2012 tax filing online gov or by calling 1-800-908-9946. 2012 tax filing online Tax return and tax account transcripts are generally available for the current year and the past three years. 2012 tax filing online Determine if you are eligible for the EITC and estimate the amount of the credit with the Earned Income Tax Credit (EITC) Assistant. 2012 tax filing online Visit Understanding Your IRS Notice or Letter to get answers to questions about a notice or letter you received from the IRS. 2012 tax filing online If you received the First Time Homebuyer Credit, you can use the First Time Homebuyer Credit Account Look-up tool for information on your repayments and account balance. 2012 tax filing online Check the status of your amended return using Where's My Amended Return? Go to IRS. 2012 tax filing online gov and enter Where's My Amended Return? in the search box. 2012 tax filing online You can generally expect your amended return to be processed up to 12 weeks from the date we receive it. 2012 tax filing online It can take up to 3 weeks from the date you mailed it to show up in our system. 2012 tax filing online Make a payment using one of several safe and convenient electronic payment options available on IRS. 2012 tax filing online gov. 2012 tax filing online Select the Payment tab on the front page of IRS. 2012 tax filing online gov for more information. 2012 tax filing online Determine if you are eligible and apply for an online payment agreement, if you owe more tax than you can pay today. 2012 tax filing online Figure your income tax withholding with the IRS Withholding Calculator on IRS. 2012 tax filing online gov. 2012 tax filing online Use it if you've had too much or too little withheld, your personal situation has changed, you're starting a new job or you just want to see if you're having the right amount withheld. 2012 tax filing online Determine if you might be subject to the Alternative Minimum Tax by using the Alternative Minimum Tax Assistant on IRS. 2012 tax filing online gov. 2012 tax filing online Request an Electronic Filing PIN by going to IRS. 2012 tax filing online gov and entering Electronic Filing PIN in the search box. 2012 tax filing online Download forms, instructions and publications, including accessible versions for people with disabilities. 2012 tax filing online Locate the nearest Taxpayer Assistance Center (TAC) using the Office Locator tool on IRS. 2012 tax filing online gov, or choose the Contact Us option on the IRS2Go app and search Local Offices. 2012 tax filing online An employee can answer questions about your tax account or help you set up a payment plan. 2012 tax filing online Before you visit, check the Office Locator on IRS. 2012 tax filing online gov, or Local Offices under Contact Us on IRS2Go to confirm the address, phone number, days and hours of operation, and the services provided. 2012 tax filing online If you have a special need, such as a disability, you can request an appointment. 2012 tax filing online Call the local number listed in the Office Locator, or look in the phone book under United States Government, Internal Revenue Service. 2012 tax filing online Apply for an Employer Identification Number (EIN). 2012 tax filing online Go to IRS. 2012 tax filing online gov and enter Apply for an EIN in the search box. 2012 tax filing online Read the Internal Revenue Code, regulations, or other official guidance. 2012 tax filing online Read Internal Revenue Bulletins. 2012 tax filing online Sign up to receive local and national tax news and more by email. 2012 tax filing online Just click on “subscriptions” above the search box on IRS. 2012 tax filing online gov and choose from a variety of options. 2012 tax filing online    Phone. 2012 tax filing online You can call the IRS, or you can carry it in your pocket with the IRS2Go app on your smart phone or tablet. 2012 tax filing online Download the free IRS2Go app from the iTunes app store or from Google Play. 2012 tax filing online Call to locate the nearest volunteer help site, 1-800-906-9887 or you can use the VITA Locator Tool on IRS. 2012 tax filing online gov, or download the IRS2Go app. 2012 tax filing online Low-to-moderate income, elderly, people with disabilities, and limited English proficient taxpayers can get free help with their tax return from the nationwide Volunteer Income Tax Assistance (VITA) program. 2012 tax filing online The Tax Counseling for the Elderly (TCE) program helps taxpayers age 60 and older with their tax returns. 2012 tax filing online Most VITA and TCE sites offer free electronic filing. 2012 tax filing online Some VITA and TCE sites provide IRS-certified volunteers who can help prepare your tax return. 2012 tax filing online Through the TCE program, AARP offers the Tax-Aide counseling program; call 1-888-227-7669 to find the nearest Tax-Aide location. 2012 tax filing online Call the automated Where's My Refund? information hotline to check the status of your 2013 refund 24 hours a day, 7 days a week at 1-800-829-1954. 2012 tax filing online If you e-file, you can start checking on the status of your return within 24 hours after the IRS receives your tax return or 4 weeks after you've mailed a paper return. 2012 tax filing online The IRS issues more than 9 out of 10 refunds in less than 21 days. 2012 tax filing online Where's My Refund? will give you a personalized refund date as soon as the IRS processes your tax return and approves your refund. 2012 tax filing online Before you call this automated hotline, have your 2013 tax return handy so you can enter your social security number, your filing status, and the exact whole dollar amount of your refund. 2012 tax filing online The IRS updates Where's My Refund? every 24 hours, usually overnight, so you only need to check once a day. 2012 tax filing online Note, the above information is for our automated hotline. 2012 tax filing online Our live phone and walk-in assistors can research the status of your refund only if it's been 21 days or more since you filed electronically or more than 6 weeks since you mailed your paper return. 2012 tax filing online Call the Amended Return Hotline, 1-866-464-2050, to check the status of your amended return. 2012 tax filing online You can generally expect your amended return to be processed up to 12 weeks from the date we receive it. 2012 tax filing online It can take up to 3 weeks from the date you mailed it to show up in our system. 2012 tax filing online Call 1-800-TAX-FORM (1-800-829-3676) to order current-year forms, instructions, publications, and prior-year forms and instructions (limited to 5 years). 2012 tax filing online You should receive your order within 10 business days. 2012 tax filing online Call TeleTax, 1-800-829-4477, to listen to pre-recorded messages covering general and business tax information. 2012 tax filing online If, between January and April 15, you still have questions about the Form 1040, 1040A, or 1040EZ (like filing requirements, dependents, credits, Schedule D, pensions and IRAs or self-employment taxes), call 1-800-829-1040. 2012 tax filing online Call using TTY/TDD equipment, 1-800-829-4059 to ask tax questions or order forms and publications. 2012 tax filing online The TTY/TDD telephone number is for people who are deaf, hard of hearing, or have a speech disability. 2012 tax filing online These individuals can also contact the IRS through relay services such as the Federal Relay Service. 2012 tax filing online    Walk-in. 2012 tax filing online You can find a selection of forms, publications and services — in-person. 2012 tax filing online Products. 2012 tax filing online You can walk in to some post offices, libraries, and IRS offices to pick up certain forms, instructions, and publications. 2012 tax filing online Some IRS offices, libraries, and city and county government offices have a collection of products available to photocopy from reproducible proofs. 2012 tax filing online Services. 2012 tax filing online You can walk in to your local TAC for face-to-face tax help. 2012 tax filing online An employee can answer questions about your tax account or help you set up a payment plan. 2012 tax filing online Before visiting, use the Office Locator tool on IRS. 2012 tax filing online gov, or choose the Contact Us option on the IRS2Go app and search Local Offices for days and hours of operation, and services provided. 2012 tax filing online    Mail. 2012 tax filing online You can send your order for forms, instructions, and publications to the address below. 2012 tax filing online You should receive a response within 10 business days after your request is received. 2012 tax filing online  Internal Revenue Service 1201 N. 2012 tax filing online Mitsubishi Motorway Bloomington, IL 61705-6613    The Taxpayer Advocate Service Is Here to Help You. 2012 tax filing online The Taxpayer Advocate Service (TAS) is your voice at the IRS. 2012 tax filing online Our job is to ensure that every taxpayer is treated fairly and that you know and understand your rights. 2012 tax filing online   What can TAS do for you? We can offer you free help with IRS problems that you can't resolve on your own. 2012 tax filing online We know this process can be confusing, but the worst thing you can do is nothing at all! TAS can help if you can't resolve your tax problem and: Your problem is causing financial difficulties for you, your family, or your business. 2012 tax filing online You face (or your business is facing) an immediate threat of adverse action. 2012 tax filing online You've tried repeatedly to contact the IRS but no one has responded, or the IRS hasn't responded by the date promised. 2012 tax filing online   If you qualify for our help, you'll be assigned to one advocate who'll be with you at every turn and will do everything possible to resolve your problem. 2012 tax filing online Here's why we can help: TAS is an independent organization within the IRS. 2012 tax filing online Our advocates know how to work with the IRS. 2012 tax filing online Our services are free and tailored to meet your needs. 2012 tax filing online We have offices in every state, the District of Columbia, and Puerto Rico. 2012 tax filing online   How can you reach us? If you think TAS can help you, call your local advocate, whose number is in your local directory and at Taxpayer Advocate, or call us toll-free at 1-877-777-4778. 2012 tax filing online   How else does TAS help taxpayers?  TAS also works to resolve large-scale, systemic problems that affect many taxpayers. 2012 tax filing online If you know of one of these broad issues, please report it to us through our Systemic Advocacy Management System. 2012 tax filing online Low Income Taxpayer Clinics (LITCs) Low Income Taxpayer Clinics (LITCs) serve individuals whose income is below a certain level and need to resolve tax problems such as audits, appeals and tax collection disputes. 2012 tax filing online Some clinics can provide information about taxpayer rights and responsibilities in different languages for individuals who speak English as a second language. 2012 tax filing online Visit Taxpayer Advocate or see IRS Publication 4134, Low Income Taxpayer Clinic List. 2012 tax filing online Small Business Administration The Small Business Administration (SBA) offers training and educational programs, counseling services, financial programs, and contract assistance for small business owners. 2012 tax filing online The SBA also has publications and videos on a variety of business topics. 2012 tax filing online The following briefly describes assistance provided by the SBA. 2012 tax filing online Small Business Development Centers (SBDCs). 2012 tax filing online   SBDCs provide counseling, training, and technical services to current and prospective small business owners who cannot afford the services of a private consultant. 2012 tax filing online Help is available when beginning, improving, or expanding a small business. 2012 tax filing online Business Information Centers (BICs). 2012 tax filing online   BICs offer a small business reference library, management video tapes, and computer technology to help plan a business. 2012 tax filing online BICs also offer one-on-one assistance. 2012 tax filing online Individuals who are in business or are interested in starting a business can use BICs as often as they wish at no charge. 2012 tax filing online Service Corps of Retired Executives (SCORE). 2012 tax filing online   SCORE provides small business counseling and training to current and prospective small business owners. 2012 tax filing online SCORE is made up of current and former business people who offer their expertise and knowledge to help people start, manage, and expand a small business. 2012 tax filing online SCORE also offers a variety of small business workshops. 2012 tax filing online Internet. 2012 tax filing online    You can visit the SBA website at www. 2012 tax filing online sba. 2012 tax filing online gov. 2012 tax filing online While visiting the SBA website, you can find a variety of information of interest to small business owners. 2012 tax filing online Phone. 2012 tax filing online    Call the SBA Answer Desk at 1-800-U-ASK-SBA (1-800-827-5722) for general information about programs available to assist small business owners. 2012 tax filing online Walk-in. 2012 tax filing online   You can walk in to a Small Business Development Center or Business Information Center to request assistance with your small business. 2012 tax filing online To find the location nearest you, visit the SBA website or call the SBA Answer Desk. 2012 tax filing online Other Federal Agencies Other federal agencies also publish publications and pamphlets to assist small businesses. 2012 tax filing online Most of these are available from the Superintendent of Documents at the Government Printing Office. 2012 tax filing online You can get information and order these publications and pamphlets in several ways. 2012 tax filing online Internet. 2012 tax filing online   You can visit the GPO website at  www. 2012 tax filing online access. 2012 tax filing online gpo. 2012 tax filing online gov. 2012 tax filing online Mail. 2012 tax filing online   Write to the GPO at the following address. 2012 tax filing online  Superintendent of Documents U. 2012 tax filing online S. 2012 tax filing online Government Printing Office P. 2012 tax filing online O. 2012 tax filing online Box 979050 St. 2012 tax filing online Louis, MO 63917-9000 Phone. 2012 tax filing online   Call the GPO toll-free at 1-866-512-1800 or at 202-512-1800 from the Washington, DC, area. 2012 tax filing online Prev  Up  Next   Home   More Online Publications
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Revoked? Reinstated? Learn More

Most tax-exempt organizations are required to file an annual return or notice with the Internal Revenue Service. (See Annual Return Filing Exceptions for a list of organizations that are not required to file.) Section 6033(j) of the Internal Revenue Code automatically revokes the exemption of any organization that fails to satisfy its filing requirement for three consecutive years. The automatic revocation of exemption is effective as of the due date of the third required annual filing or notice. Organizations on the Automatic Revocation of Exemption List (Auto-Revocation List) previously recognized as exempt under section 501(c)(3) of the Internal Revenue Code are no longer eligible to receive tax-deductible contributions under Code section 170.

Contributors and grantors can rely on the Exempt Organizations Select Check (Pub 78 data) page to determine organization deductibility and foundation status, even if the organization no longer appears in the Statistics of Income (SOI) Tax Stats - EO BMF. See Revenue Procedure 2011-33.

Publication of an organization’s name on the Auto-Revocation List serves as notice to donors and others that the organization is no longer eligible to receive tax-deductible contributions under section 170 and that donors and others may not rely on an IRS determination letter dated before the effective date of revocation or on a prior listing in either Exempt Organizations Select Check (Pub. 78 data) or the IRS Business Master File extract for purposes of claiming tax-deductible contributions. Because the list is an official IRS record of organizations that lost their exempt status for failing to file for three consecutive years, an organization whose exempt status is reinstated remains on the list. If, however, you think your organization was erroneously listed as revoked, see our frequently asked questions.

Because of system limitations, the name field may capture only the first few words of a long organizational name. For example, if the organization's full name is XXXXX YYYYY ZZZZZ University, Alumni Association Chapter 214, the name field may only display XXXXX YYYYY ZZZZZ University. You can check Exempt Organizations Select Check (Pub. 78 data) to ensure that an organization is still eligible to receive tax deductible contributions. For best search results, be sure to enter the exact legal name of the organization.
 

 


AUTOMATIC REVOCATION OF EXEMPTION LIST

 

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Page Last Reviewed or Updated: 05-Nov-2013

The 2012 Tax Filing Online

2012 tax filing online 3. 2012 tax filing online   Dispositions of Business Property Table of Contents Introduction Useful Items - You may want to see: What Is a Disposition of Property?Like-kind exchanges. 2012 tax filing online How Do I Figure a Gain or Loss?Is My Gain or Loss Ordinary or Capital? Is My Capital Gain or Loss Short Term or Long Term? Where Do I Report Gains and Losses? Introduction If you dispose of business property, you may have a gain or loss that you report on Form 1040. 2012 tax filing online However, in some cases you may have a gain that is not taxable or a loss that is not deductible. 2012 tax filing online This chapter discusses whether you have a disposition, how to figure the gain or loss, and where to report the gain or loss. 2012 tax filing online Useful Items - You may want to see: Publication 544 Sales and Other Dispositions of Assets Form (and Instructions) 4797 Sales of Business Property Sch D (Form 1040) Capital Gains and Losses See chapter 12 for information about getting publications and forms. 2012 tax filing online What Is a Disposition of Property? A disposition of property includes the following transactions. 2012 tax filing online You sell property for cash or other property. 2012 tax filing online You exchange property for other property. 2012 tax filing online You receive money as a tenant for the cancellation of a lease. 2012 tax filing online You receive money for granting the exclusive use of a copyright throughout its life in a particular medium. 2012 tax filing online You transfer property to satisfy a debt. 2012 tax filing online You abandon property. 2012 tax filing online Your bank or other financial institution forecloses on your mortgage or repossesses your property. 2012 tax filing online Your property is damaged, destroyed, or stolen, and you receive property or money in payment. 2012 tax filing online Your property is condemned, or disposed of under the threat of condemnation, and you receive property or money in payment. 2012 tax filing online For details about damaged, destroyed, or stolen property, see Publication 547, Casualties, Disasters, and Thefts. 2012 tax filing online For details about other dispositions, see chapter 1 in Publication 544. 2012 tax filing online Nontaxable exchanges. 2012 tax filing online   Certain exchanges of property are not taxable. 2012 tax filing online This means any gain from the exchange is not recognized and you cannot deduct any loss. 2012 tax filing online Your gain or loss will not be recognized until you sell or otherwise dispose of the property you receive. 2012 tax filing online Like-kind exchanges. 2012 tax filing online   A like-kind exchange is the exchange of property for the same kind of property. 2012 tax filing online It is the most common type of nontaxable exchange. 2012 tax filing online To be a like-kind exchange, the property traded and the property received must be both of the following. 2012 tax filing online Business or investment property. 2012 tax filing online Like property. 2012 tax filing online   Report the exchange of like-kind property on Form 8824, Like-Kind Exchanges. 2012 tax filing online For more information about like-kind exchanges, see chapter 1 in Publication 544. 2012 tax filing online Installment sales. 2012 tax filing online   An installment sale is a sale of property where you receive at least one payment after the tax year of the sale. 2012 tax filing online If you finance the buyer's purchase of your property, instead of having the buyer get a loan or mortgage from a third party, you probably have an installment sale. 2012 tax filing online   For more information about installment sales, see Publication 537, Installment Sales. 2012 tax filing online Sale of a business. 2012 tax filing online   The sale of a business usually is not a sale of one asset. 2012 tax filing online Instead, all the assets of the business are sold. 2012 tax filing online Generally, when this occurs, each asset is treated as being sold separately for determining the treatment of gain or loss. 2012 tax filing online   Both the buyer and seller involved in the sale of a business must report to the IRS the allocation of the sales price among the business assets. 2012 tax filing online Use Form 8594, Asset Acquisition Statement Under Section 1060, to provide this information. 2012 tax filing online The buyer and seller should each attach Form 8594 to their federal income tax return for the year in which the sale occurred. 2012 tax filing online   For more information about the sale of a business, see chapter 2 of Publication 544. 2012 tax filing online How Do I Figure a Gain or Loss? Table 3-1. 2012 tax filing online How To Figure a Gain or Loss IF your. 2012 tax filing online . 2012 tax filing online . 2012 tax filing online THEN you have a. 2012 tax filing online . 2012 tax filing online . 2012 tax filing online Adjusted basis is more than the amount realized Loss. 2012 tax filing online Amount realized is more than the adjusted basis Gain. 2012 tax filing online Basis, adjusted basis, amount realized, fair market value, and amount recognized are defined next. 2012 tax filing online You need to know these definitions to figure your gain or loss. 2012 tax filing online Basis. 2012 tax filing online   The cost or purchase price of property is usually its basis for figuring the gain or loss from its sale or other disposition. 2012 tax filing online However, if you acquired the property by gift, inheritance, or in some way other than buying it, you must use a basis other than its cost. 2012 tax filing online For more information about basis, see Publication 551, Basis of Assets. 2012 tax filing online Adjusted basis. 2012 tax filing online   The adjusted basis of property is your original cost or other basis plus certain additions, and minus certain deductions such as depreciation and casualty losses. 2012 tax filing online In determining gain or loss, the costs of transferring property to a new owner, such as selling expenses, are added to the adjusted basis of the property. 2012 tax filing online Amount realized. 2012 tax filing online   The amount you realize from a disposition is the total of all money you receive plus the fair market value of all property or services you receive. 2012 tax filing online The amount you realize also includes any of your liabilities that were assumed by the buyer and any liabilities to which the property you transferred is subject, such as real estate taxes or a mortgage. 2012 tax filing online Fair market value. 2012 tax filing online   Fair market value is the price at which the property would change hands between a buyer and a seller, neither having to buy or sell, and both having reasonable knowledge of all necessary facts. 2012 tax filing online Amount recognized. 2012 tax filing online   Your gain or loss realized from a disposition of property is usually a recognized gain or loss for tax purposes. 2012 tax filing online Recognized gains must be included in gross income. 2012 tax filing online Recognized losses are deductible from gross income. 2012 tax filing online However, a gain or loss realized from certain exchanges of property is not recognized. 2012 tax filing online See  Nontaxable exchanges, earlier. 2012 tax filing online Also, you cannot deduct a loss from the disposition of property held for personal use. 2012 tax filing online Is My Gain or Loss Ordinary or Capital? You must classify your gains and losses as either ordinary or capital gains or losses. 2012 tax filing online You must do this to figure your net capital gain or loss. 2012 tax filing online Generally, you will have a capital gain or loss if you dispose of a capital asset. 2012 tax filing online For the most part, everything you own and use for personal purposes or investment is a capital asset. 2012 tax filing online Certain property you use in your business is not a capital asset. 2012 tax filing online A gain or loss from a disposition of this property is an ordinary gain or loss. 2012 tax filing online However, if you held the property longer than 1 year, you may be able to treat the gain or loss as a capital gain or loss. 2012 tax filing online These gains and losses are called section 1231 gains and losses. 2012 tax filing online For more information about ordinary and capital gains and losses, see chapters 2 and 3 in Publication 544. 2012 tax filing online Is My Capital Gain or Loss Short Term or Long Term? If you have a capital gain or loss, you must determine whether it is long term or short term. 2012 tax filing online Whether a gain or loss is long or short term depends on how long you own the property before you dispose of it. 2012 tax filing online The time you own property before disposing of it is called the holding period. 2012 tax filing online Table 3-2. 2012 tax filing online Do I Have a Short-Term or Long-Term Gain or Loss? IF you hold the property. 2012 tax filing online . 2012 tax filing online . 2012 tax filing online THEN you have a. 2012 tax filing online . 2012 tax filing online . 2012 tax filing online 1 year or less Short-term capital gain or loss. 2012 tax filing online More than 1 year Long-term capital gain or loss. 2012 tax filing online For more information about short-term and long-term capital gains and losses, see chapter 4 of Publication 544. 2012 tax filing online Where Do I Report Gains and Losses? Report gains and losses from the following dispositions on the forms indicated. 2012 tax filing online The instructions for the forms explain how to fill them out. 2012 tax filing online Dispositions of business property and depreciable property. 2012 tax filing online   Use Form 4797. 2012 tax filing online If you have taxable gain, you may also have to use Schedule D (Form 1040). 2012 tax filing online Like-kind exchanges. 2012 tax filing online   Use Form 8824, Like-Kind Exchanges. 2012 tax filing online You may also have to use Form 4797 and Schedule D (Form 1040). 2012 tax filing online Installment sales. 2012 tax filing online   Use Form 6252, Installment Sale Income. 2012 tax filing online You may also have to use Form 4797 and Schedule D (Form 1040). 2012 tax filing online Casualties and thefts. 2012 tax filing online   Use Form 4684, Casualties and Thefts. 2012 tax filing online You may also have to use Form 4797. 2012 tax filing online Condemned property. 2012 tax filing online   Use Form 4797. 2012 tax filing online You may also have to use Schedule D (Form 1040). 2012 tax filing online Prev  Up  Next   Home   More Online Publications