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College Students Filing Taxes

College students filing taxes 2. College students filing taxes   Depreciation of Rental Property Table of Contents The BasicsWhat Rental Property Can Be Depreciated? When Does Depreciation Begin and End? Depreciation Methods Basis of Depreciable Property Claiming the Special Depreciation Allowance MACRS DepreciationDepreciation Systems Property Classes Under GDS Recovery Periods Under GDS Conventions Figuring Your Depreciation Deduction Figuring MACRS Depreciation Under ADS Claiming the Correct Amount of Depreciation You recover the cost of income producing property through yearly tax deductions. College students filing taxes You do this by depreciating the property; that is, by deducting some of the cost each year on your tax return. College students filing taxes Three factors determine how much depreciation you can deduct each year: (1) your basis in the property, (2) the recovery period for the property, and (3) the depreciation method used. College students filing taxes You cannot simply deduct your mortgage or principal payments, or the cost of furniture, fixtures and equipment, as an expense. College students filing taxes You can deduct depreciation only on the part of your property used for rental purposes. College students filing taxes Depreciation reduces your basis for figuring gain or loss on a later sale or exchange. College students filing taxes You may have to use Form 4562 to figure and report your depreciation. College students filing taxes See Which Forms To Use in chapter 3. College students filing taxes Also see Publication 946. College students filing taxes Section 179 deduction. College students filing taxes   The section 179 deduction is a means of recovering part or all of the cost of certain qualifying property in the year you place the property in service. College students filing taxes This deduction is not allowed for property used in connection with residential rental property. College students filing taxes See chapter 2 of Publication 946. College students filing taxes Alternative minimum tax (AMT). College students filing taxes   If you use accelerated depreciation, you may be subject to the AMT. College students filing taxes Accelerated depreciation allows you to deduct more depreciation earlier in the recovery period than you could deduct using a straight line method (same deduction each year). College students filing taxes   The prescribed depreciation methods for rental real estate are not accelerated, so the depreciation deduction is not adjusted for the AMT. College students filing taxes However, accelerated methods are generally used for other property connected with rental activities (for example, appliances and wall-to-wall carpeting). College students filing taxes   To find out if you are subject to the AMT, see the Instructions for Form 6251. College students filing taxes The Basics The following section discusses the information you will need to have about the rental property and the decisions to be made before figuring your depreciation deduction. College students filing taxes What Rental Property Can Be Depreciated? You can depreciate your property if it meets all the following requirements. College students filing taxes You own the property. College students filing taxes You use the property in your business or income-producing activity (such as rental property). College students filing taxes The property has a determinable useful life. College students filing taxes The property is expected to last more than one year. College students filing taxes Property you own. College students filing taxes   To claim depreciation, you usually must be the owner of the property. College students filing taxes You are considered as owning property even if it is subject to a debt. College students filing taxes Rented property. College students filing taxes   Generally, if you pay rent for property, you cannot depreciate that property. College students filing taxes Usually, only the owner can depreciate it. College students filing taxes However, if you make permanent improvements to leased property, you may be able to depreciate the improvements. College students filing taxes See Additions or improvements to property , later in this chapter, under Recovery Periods Under GDS. College students filing taxes Cooperative apartments. College students filing taxes   If you are a tenant-stockholder in a cooperative housing corporation and rent your cooperative apartment to others, you can deduct depreciation on your stock in the corporation. College students filing taxes See chapter 4, Special Situations. College students filing taxes Property having a determinable useful life. College students filing taxes   To be depreciable, your property must have a determinable useful life. College students filing taxes This means that it must be something that wears out, decays, gets used up, becomes obsolete, or loses its value from natural causes. College students filing taxes What Rental Property Cannot Be Depreciated? Certain property cannot be depreciated. College students filing taxes This includes land and certain excepted property. College students filing taxes Land. College students filing taxes   You cannot depreciate the cost of land because land generally does not wear out, become obsolete, or get used up. College students filing taxes But if it does, the loss is accounted for upon disposition. College students filing taxes The costs of clearing, grading, planting, and landscaping are usually all part of the cost of land and cannot be depreciated. College students filing taxes   Although you cannot depreciate land, you can depreciate certain land preparation costs, such as landscaping costs, incurred in preparing land for business use. College students filing taxes These costs must be so closely associated with other depreciable property that you can determine a life for them along with the life of the associated property. College students filing taxes Example. College students filing taxes You built a new house to use as a rental and paid for grading, clearing, seeding, and planting bushes and trees. College students filing taxes Some of the bushes and trees were planted right next to the house, while others were planted around the outer border of the lot. College students filing taxes If you replace the house, you would have to destroy the bushes and trees right next to it. College students filing taxes These bushes and trees are closely associated with the house, so they have a determinable useful life. College students filing taxes Therefore, you can depreciate them. College students filing taxes Add your other land preparation costs to the basis of your land because they have no determinable life and you cannot depreciate them. College students filing taxes Excepted property. College students filing taxes   Even if the property meets all the requirements listed earlier under What Rental Property Can Be Depreciated , you cannot depreciate the following property. College students filing taxes Property placed in service and disposed of (or taken out of business use) in the same year. College students filing taxes Equipment used to build capital improvements. College students filing taxes You must add otherwise allowable depreciation on the equipment during the period of construction to the basis of your improvements. College students filing taxes For more information, see chapter 1 of Publication 946. College students filing taxes When Does Depreciation Begin and End? You begin to depreciate your rental property when you place it in service for the production of income. College students filing taxes You stop depreciating it either when you have fully recovered your cost or other basis, or when you retire it from service, whichever happens first. College students filing taxes Placed in Service You place property in service in a rental activity when it is ready and available for a specific use in that activity. College students filing taxes Even if you are not using the property, it is in service when it is ready and available for its specific use. College students filing taxes Example 1. College students filing taxes On November 22 of last year, you purchased a dishwasher for your rental property. College students filing taxes The appliance was delivered on December 7, but was not installed and ready for use until January 3 of this year. College students filing taxes Because the dishwasher was not ready for use last year, it is not considered placed in service until this year. College students filing taxes If the appliance had been installed and ready for use when it was delivered in December of last year, it would have been considered placed in service in December, even if it was not actually used until this year. College students filing taxes Example 2. College students filing taxes On April 6, you purchased a house to use as residential rental property. College students filing taxes You made extensive repairs to the house and had it ready for rent on July 5. College students filing taxes You began to advertise the house for rent in July and actually rented it beginning September 1. College students filing taxes The house is considered placed in service in July when it was ready and available for rent. College students filing taxes You can begin to depreciate the house in July. College students filing taxes Example 3. College students filing taxes You moved from your home in July. College students filing taxes During August and September you made several repairs to the house. College students filing taxes On October 1, you listed the property for rent with a real estate company, which rented it on December 1. College students filing taxes The property is considered placed in service on October 1, the date when it was available for rent. College students filing taxes Conversion to business use. College students filing taxes   If you place property in service in a personal activity, you cannot claim depreciation. College students filing taxes However, if you change the property's use to business or the production of income, you can begin to depreciate it at the time of the change. College students filing taxes You place the property in service for business or income-producing use on the date of the change. College students filing taxes Example. College students filing taxes You bought a house and used it as your personal home several years before you converted it to rental property. College students filing taxes Although its specific use was personal and no depreciation was allowable, you placed the home in service when you began using it as your home. College students filing taxes You can begin to claim depreciation in the year you converted it to rental property because at that time its use changed to the production of income. College students filing taxes Idle Property Continue to claim a deduction for depreciation on property used in your rental activity even if it is temporarily idle (not in use). College students filing taxes For example, if you must make repairs after a tenant moves out, you still depreciate the rental property during the time it is not available for rent. College students filing taxes Cost or Other Basis Fully Recovered You must stop depreciating property when the total of your yearly depreciation deductions equals your cost or other basis of your property. College students filing taxes For this purpose, your yearly depreciation deductions include any depreciation that you were allowed to claim, even if you did not claim it. College students filing taxes See Basis of Depreciable Property , later. College students filing taxes Retired From Service You stop depreciating property when you retire it from service, even if you have not fully recovered its cost or other basis. College students filing taxes You retire property from service when you permanently withdraw it from use in a trade or business or from use in the production of income because of any of the following events. College students filing taxes You sell or exchange the property. College students filing taxes You convert the property to personal use. College students filing taxes You abandon the property. College students filing taxes The property is destroyed. College students filing taxes Depreciation Methods Generally, you must use the Modified Accelerated Cost Recovery System (MACRS) to depreciate residential rental property placed in service after 1986. College students filing taxes If you placed rental property in service before 1987, you are using one of the following methods. College students filing taxes ACRS (Accelerated Cost Recovery System) for property placed in service after 1980 but before 1987. College students filing taxes Straight line or declining balance method over the useful life of property placed in service before 1981. College students filing taxes See MACRS Depreciation , later, for more information. College students filing taxes Rental property placed in service before 2013. College students filing taxes   Continue to use the same method of figuring depreciation that you used in the past. College students filing taxes Use of real property changed. College students filing taxes   Generally, you must use MACRS to depreciate real property that you acquired for personal use before 1987 and changed to business or income-producing use after 1986. College students filing taxes This includes your residence that you changed to rental use. College students filing taxes See Property Owned or Used in 1986 in Publication 946, chapter 1, for those situations in which MACRS is not allowed. College students filing taxes Improvements made after 1986. College students filing taxes   Treat an improvement made after 1986 to property you placed in service before 1987 as separate depreciable property. College students filing taxes As a result, you can depreciate that improvement as separate property under MACRS if it is the type of property that otherwise qualifies for MACRS depreciation. College students filing taxes For more information about improvements, see Additions or improvements to property , later in this chapter under Recovery Periods Under GDS. College students filing taxes This publication discusses MACRS depreciation only. College students filing taxes If you need information about depreciating property placed in service before 1987, see Publication 534. College students filing taxes Basis of Depreciable Property The basis of property used in a rental activity is generally its adjusted basis when you place it in service in that activity. College students filing taxes This is its cost or other basis when you acquired it, adjusted for certain items occurring before you place it in service in the rental activity. College students filing taxes If you depreciate your property under MACRS, you may also have to reduce your basis by certain deductions and credits with respect to the property. College students filing taxes Basis and adjusted basis are explained in the following discussions. College students filing taxes If you used the property for personal purposes before changing it to rental use, its basis for depreciation is the lesser of its adjusted basis or its fair market value when you change it to rental use. College students filing taxes See Basis of Property Changed to Rental Use in chapter 4. College students filing taxes Cost Basis The basis of property you buy is usually its cost. College students filing taxes The cost is the amount you pay for it in cash, in debt obligation, in other property, or in services. College students filing taxes Your cost also includes amounts you pay for: Sales tax charged on the purchase (but see Exception next), Freight charges to obtain the property, and Installation and testing charges. College students filing taxes Exception. College students filing taxes   If you deducted state and local general sales taxes as an itemized deduction on Schedule A (Form 1040), do not include those sales taxes as part of your cost basis. College students filing taxes Such taxes were deductible before 1987 and after 2003. College students filing taxes Loans with low or no interest. College students filing taxes   If you buy property on any time-payment plan that charges little or no interest, the basis of your property is your stated purchase price, less the amount considered to be unstated interest. College students filing taxes See Unstated Interest and Original Issue Discount (OID) in Publication 537, Installment Sales. College students filing taxes Real property. College students filing taxes   If you buy real property, such as a building and land, certain fees and other expenses you pay are part of your cost basis in the property. College students filing taxes Real estate taxes. College students filing taxes   If you buy real property and agree to pay real estate taxes on it that were owed by the seller and the seller does not reimburse you, the taxes you pay are treated as part of your basis in the property. College students filing taxes You cannot deduct them as taxes paid. College students filing taxes   If you reimburse the seller for real estate taxes the seller paid for you, you can usually deduct that amount. College students filing taxes Do not include that amount in your basis in the property. College students filing taxes Settlement fees and other costs. College students filing taxes   The following settlement fees and closing costs for buying the property are part of your basis in the property. College students filing taxes Abstract fees. College students filing taxes Charges for installing utility services. College students filing taxes Legal fees. College students filing taxes Recording fees. College students filing taxes Surveys. College students filing taxes Transfer taxes. College students filing taxes Title insurance. College students filing taxes Any amounts the seller owes that you agree to pay, such as back taxes or interest, recording or mortgage fees, charges for improvements or repairs, and sales commissions. College students filing taxes   The following are settlement fees and closing costs you cannot include in your basis in the property. College students filing taxes Fire insurance premiums. College students filing taxes Rent or other charges relating to occupancy of the property before closing. College students filing taxes Charges connected with getting or refinancing a loan, such as: Points (discount points, loan origination fees), Mortgage insurance premiums, Loan assumption fees, Cost of a credit report, and Fees for an appraisal required by a lender. College students filing taxes   Also, do not include amounts placed in escrow for the future payment of items such as taxes and insurance. College students filing taxes Assumption of a mortgage. College students filing taxes   If you buy property and become liable for an existing mortgage on the property, your basis is the amount you pay for the property plus the amount remaining to be paid on the mortgage. College students filing taxes Example. College students filing taxes You buy a building for $60,000 cash and assume a mortgage of $240,000 on it. College students filing taxes Your basis is $300,000. College students filing taxes Separating cost of land and buildings. College students filing taxes   If you buy buildings and your cost includes the cost of the land on which they stand, you must divide the cost between the land and the buildings to figure the basis for depreciation of the buildings. College students filing taxes The part of the cost that you allocate to each asset is the ratio of the fair market value of that asset to the fair market value of the whole property at the time you buy it. College students filing taxes   If you are not certain of the fair market values of the land and the buildings, you can divide the cost between them based on their assessed values for real estate tax purposes. College students filing taxes Example. College students filing taxes You buy a house and land for $200,000. College students filing taxes The purchase contract does not specify how much of the purchase price is for the house and how much is for the land. College students filing taxes The latest real estate tax assessment on the property was based on an assessed value of $160,000, of which $136,000 was for the house and $24,000 was for the land. College students filing taxes You can allocate 85% ($136,000 ÷ $160,000) of the purchase price to the house and 15% ($24,000 ÷ $160,000) of the purchase price to the land. College students filing taxes Your basis in the house is $170,000 (85% of $200,000) and your basis in the land is $30,000 (15% of $200,000). College students filing taxes Basis Other Than Cost You cannot use cost as a basis for property that you received: In return for services you performed; In an exchange for other property; As a gift; From your spouse, or from your former spouse as the result of a divorce; or As an inheritance. College students filing taxes If you received property in one of these ways, see Publication 551 for information on how to figure your basis. College students filing taxes Adjusted Basis To figure your property's basis for depreciation, you may have to make certain adjustments (increases and decreases) to the basis of the property for events occurring between the time you acquired the property and the time you placed it in service for business or the production of income. College students filing taxes The result of these adjustments to the basis is the adjusted basis. College students filing taxes Increases to basis. College students filing taxes   You must increase the basis of any property by the cost of all items properly added to a capital account. College students filing taxes These include the following. College students filing taxes The cost of any additions or improvements made before placing your property into service as a rental that have a useful life of more than 1 year. College students filing taxes Amounts spent after a casualty to restore the damaged property. College students filing taxes The cost of extending utility service lines to the property. College students filing taxes Legal fees, such as the cost of defending and perfecting title, or settling zoning issues. College students filing taxes Additions or improvements. College students filing taxes   Add to the basis of your property the amount an addition or improvement actually cost you, including any amount you borrowed to make the addition or improvement. College students filing taxes This includes all direct costs, such as material and labor, but does not include your own labor. College students filing taxes It also includes all expenses related to the addition or improvement. College students filing taxes   For example, if you had an architect draw up plans for remodeling your property, the architect's fee is a part of the cost of the remodeling. College students filing taxes Or, if you had your lot surveyed to put up a fence, the cost of the survey is a part of the cost of the fence. College students filing taxes   Keep separate accounts for depreciable additions or improvements made after you place the property in service in your rental activity. College students filing taxes For information on depreciating additions or improvements, see Additions or improvements to property , later in this chapter, under Recovery Periods Under GDS. College students filing taxes    The cost of landscaping improvements is usually treated as an addition to the basis of the land, which is not depreciable. College students filing taxes However, see What Rental Property Cannot Be Depreciated, earlier. College students filing taxes Assessments for local improvements. College students filing taxes   Assessments for items which tend to increase the value of property, such as streets and sidewalks, must be added to the basis of the property. College students filing taxes For example, if your city installs curbing on the street in front of your house, and assesses you and your neighbors for its cost, you must add the assessment to the basis of your property. College students filing taxes Also add the cost of legal fees paid to obtain a decrease in an assessment levied against property to pay for local improvements. College students filing taxes You cannot deduct these items as taxes or depreciate them. College students filing taxes    However, you can deduct as taxes, charges or assessments for maintenance, repairs, or interest charges related to the improvements. College students filing taxes Do not add them to your basis in the property. College students filing taxes Deducting vs. College students filing taxes capitalizing costs. College students filing taxes   Do not add to your basis costs you can deduct as current expenses. College students filing taxes However, there are certain costs you can choose either to deduct or to capitalize. College students filing taxes If you capitalize these costs, include them in your basis. College students filing taxes If you deduct them, do not include them in your basis. College students filing taxes   The costs you may choose to deduct or capitalize include carrying charges, such as interest and taxes, that you must pay to own property. College students filing taxes   For more information about deducting or capitalizing costs and how to make the election, see Carrying Charges in Publication 535, chapter 7. College students filing taxes Decreases to basis. College students filing taxes   You must decrease the basis of your property by any items that represent a return of your cost. College students filing taxes These include the following. College students filing taxes Insurance or other payment you receive as the result of a casualty or theft loss. College students filing taxes Casualty loss not covered by insurance for which you took a deduction. College students filing taxes Amount(s) you receive for granting an easement. College students filing taxes Residential energy credits you were allowed before 1986, or after 2005, if you added the cost of the energy items to the basis of your home. College students filing taxes Exclusion from income of subsidies for energy conservation measures. College students filing taxes Special depreciation allowance claimed on qualified property. College students filing taxes Depreciation you deducted, or could have deducted, on your tax returns under the method of depreciation you chose. College students filing taxes If you did not deduct enough or deducted too much in any year, see Depreciation under Decreases to Basis in Publication 551. College students filing taxes   If your rental property was previously used as your main home, you must also decrease the basis by the following. College students filing taxes Gain you postponed from the sale of your main home before May 7, 1997, if the replacement home was converted to your rental property. College students filing taxes District of Columbia first-time homebuyer credit allowed on the purchase of your main home after August 4, 1997 and before January 1, 2012. College students filing taxes Amount of qualified principal residence indebtedness discharged on or after January 1, 2007. College students filing taxes Claiming the Special Depreciation Allowance For 2013, your residential rental property may qualify for a special depreciation allowance. College students filing taxes This allowance is figured before you figure your regular depreciation deduction. College students filing taxes See Publication 946, chapter 3, for details. College students filing taxes Also see the Instructions for Form 4562, Line 14. College students filing taxes If you qualify for, but choose not to take, a special depreciation allowance, you must attach a statement to your return. College students filing taxes The details of this election are in Publication 946, chapter 3, and the Instructions for Form 4562, Line 14. College students filing taxes MACRS Depreciation Most business and investment property placed in service after 1986 is depreciated using MACRS. College students filing taxes This section explains how to determine which MACRS depreciation system applies to your property. College students filing taxes It also discusses other information you need to know before you can figure depreciation under MACRS. College students filing taxes This information includes the property's: Recovery class, Applicable recovery period, Convention, Placed-in-service date, Basis for depreciation, and Depreciation method. College students filing taxes Depreciation Systems MACRS consists of two systems that determine how you depreciate your property—the General Depreciation System (GDS) and the Alternative Depreciation System (ADS). College students filing taxes You must use GDS unless you are specifically required by law to use ADS or you elect to use ADS. College students filing taxes Excluded Property You cannot use MACRS for certain personal property (such as furniture or appliances) placed in service in your rental property in 2013 if it had been previously placed in service before 1987 when MACRS became effective. College students filing taxes In most cases, personal property is excluded from MACRS if you (or a person related to you) owned or used it in 1986 or if your tenant is a person (or someone related to the person) who owned or used it in 1986. College students filing taxes However, the property is not excluded if your 2013 deduction under MACRS (using a half-year convention) is less than the deduction you would have under ACRS. College students filing taxes For more information, see What Method Can You Use To Depreciate Your Property? in Publication 946, chapter 1. College students filing taxes Electing ADS If you choose, you can use the ADS method for most property. College students filing taxes Under ADS, you use the straight line method of depreciation. College students filing taxes The election of ADS for one item in a class of property generally applies to all property in that class that is placed in service during the tax year of the election. College students filing taxes However, the election applies on a property-by-property basis for residential rental property and nonresidential real property. College students filing taxes If you choose to use ADS for your residential rental property, the election must be made in the first year the property is placed in service. College students filing taxes Once you make this election, you can never revoke it. College students filing taxes For property placed in service during 2013, you make the election to use ADS by entering the depreciation on Form 4562, Part III, Section C, line 20c. College students filing taxes Property Classes Under GDS Each item of property that can be depreciated under MACRS is assigned to a property class, determined by its class life. College students filing taxes The property class generally determines the depreciation method, recovery period, and convention. College students filing taxes The property classes under GDS are: 3-year property, 5-year property, 7-year property, 10-year property, 15-year property, 20-year property, Nonresidential real property, and Residential rental property. College students filing taxes Under MACRS, property that you placed in service during 2013 in your rental activities generally falls into one of the following classes. College students filing taxes 5-year property. College students filing taxes This class includes computers and peripheral equipment, office machinery (typewriters, calculators, copiers, etc. College students filing taxes ), automobiles, and light trucks. College students filing taxes This class also includes appliances, carpeting, furniture, etc. College students filing taxes , used in a residential rental real estate activity. College students filing taxes Depreciation on automobiles, other property used for transportation, computers and related peripheral equipment, and property of a type generally used for entertainment, recreation, or amusement is limited. College students filing taxes See chapter 5 of Publication 946. College students filing taxes 7-year property. College students filing taxes This class includes office furniture and equipment (desks, file cabinets, etc. College students filing taxes ). College students filing taxes This class also includes any property that does not have a class life and that has not been designated by law as being in any other class. College students filing taxes 15-year property. College students filing taxes This class includes roads, fences, and shrubbery (if depreciable). College students filing taxes Residential rental property. College students filing taxes This class includes any real property that is a rental building or structure (including a mobile home) for which 80% or more of the gross rental income for the tax year is from dwelling units. College students filing taxes It does not include a unit in a hotel, motel, inn, or other establishment where more than half of the units are used on a transient basis. College students filing taxes If you live in any part of the building or structure, the gross rental income includes the fair rental value of the part you live in. College students filing taxes The other property classes do not generally apply to property used in rental activities. College students filing taxes These classes are not discussed in this publication. College students filing taxes See Publication 946 for more information. College students filing taxes Recovery Periods Under GDS The recovery period of property is the number of years over which you recover its cost or other basis. College students filing taxes The recovery periods are generally longer under ADS than GDS. College students filing taxes The recovery period of property depends on its property class. College students filing taxes Under GDS, the recovery period of an asset is generally the same as its property class. College students filing taxes Class lives and recovery periods for most assets are listed in Appendix B of Publication 946. College students filing taxes See Table 2-1 for recovery periods of property commonly used in residential rental activities. College students filing taxes Qualified Indian reservation property. College students filing taxes   Shorter recovery periods are provided under MACRS for qualified Indian reservation property placed in service on Indian reservations. College students filing taxes For more information, see chapter 4 of Publication 946. College students filing taxes Additions or improvements to property. College students filing taxes   Treat additions or improvements you make to your depreciable rental property as separate property items for depreciation purposes. College students filing taxes   The property class and recovery period of the addition or improvement is the one that would apply to the original property if you had placed it in service at the same time as the addition or improvement. College students filing taxes   The recovery period for an addition or improvement to property begins on the later of: The date the addition or improvement is placed in service, or The date the property to which the addition or improvement was made is placed in service. College students filing taxes Example. College students filing taxes You own a residential rental house that you have been renting since 1986 and depreciating under ACRS. College students filing taxes You built an addition onto the house and placed it in service in 2013. College students filing taxes You must use MACRS for the addition. College students filing taxes Under GDS, the addition is depreciated as residential rental property over 27. College students filing taxes 5 years. College students filing taxes Table 2-1. College students filing taxes MACRS Recovery Periods for Property Used in Rental Activities   MACRS Recovery Period   Type of Property General Depreciation System Alternative Depreciation System   Computers and their peripheral equipment 5 years 5 years   Office machinery, such as: Typewriters Calculators Copiers 5 years 6 years   Automobiles 5 years 5 years   Light trucks 5 years 5 years   Appliances, such as: Stoves Refrigerators 5 years 9 years   Carpets 5 years 9 years   Furniture used in rental property 5 years 9 years   Office furniture and equipment, such as: Desks Files 7 years 10 years   Any property that does not have a class life and that has not been designated by law as being in any other class 7 years 12 years   Roads 15 years 20 years   Shrubbery 15 years 20 years   Fences 15 years 20 years   Residential rental property (buildings or structures) and structural components such as furnaces, waterpipes, venting, etc. College students filing taxes 27. College students filing taxes 5 years 40 years   Additions and improvements, such as a new roof The same recovery period as that of the property to which the addition or improvement is made, determined as if the property were placed in service at the same time as the addition or improvement. College students filing taxes   Conventions A convention is a method established under MACRS to set the beginning and end of the recovery period. College students filing taxes The convention you use determines the number of months for which you can claim depreciation in the year you place property in service and in the year you dispose of the property. College students filing taxes Mid-month convention. College students filing taxes    A mid-month convention is used for all residential rental property and nonresidential real property. College students filing taxes Under this convention, you treat all property placed in service, or disposed of, during any month as placed in service, or disposed of, at the midpoint of that month. College students filing taxes Mid-quarter convention. College students filing taxes   A mid-quarter convention must be used if the mid-month convention does not apply and the total depreciable basis of MACRS property placed in service in the last 3 months of a tax year (excluding nonresidential real property, residential rental property, and property placed in service and disposed of in the same year) is more than 40% of the total basis of all such property you place in service during the year. College students filing taxes   Under this convention, you treat all property placed in service, or disposed of, during any quarter of a tax year as placed in service, or disposed of, at the midpoint of the quarter. College students filing taxes Example. College students filing taxes During the tax year, Tom Martin purchased the following items to use in his rental property. College students filing taxes He elects not to claim the special depreciation allowance discussed earlier. College students filing taxes A dishwasher for $400 that he placed in service in January. College students filing taxes Used furniture for $100 that he placed in service in September. College students filing taxes A refrigerator for $800 that he placed in service in October. College students filing taxes Tom uses the calendar year as his tax year. College students filing taxes The total basis of all property placed in service that year is $1,300. College students filing taxes The $800 basis of the refrigerator placed in service during the last 3 months of his tax year exceeds $520 (40% × $1,300). College students filing taxes Tom must use the mid-quarter convention instead of the half-year convention for all three items. College students filing taxes Half-year convention. College students filing taxes    The half-year convention is used if neither the mid-quarter convention nor the mid-month convention applies. College students filing taxes Under this convention, you treat all property placed in service, or disposed of, during a tax year as placed in service, or disposed of, at the midpoint of that tax year. College students filing taxes   If this convention applies, you deduct a half year of depreciation for the first year and the last year that you depreciate the property. College students filing taxes You deduct a full year of depreciation for any other year during the recovery period. College students filing taxes Figuring Your Depreciation Deduction You can figure your MACRS depreciation deduction in one of two ways. College students filing taxes The deduction is substantially the same both ways. College students filing taxes You can either: Actually compute the deduction using the depreciation method and convention that apply over the recovery period of the property, or Use the percentage from the MACRS percentage tables. College students filing taxes In this publication we will use the percentage tables. College students filing taxes For instructions on how to compute the deduction, see chapter 4 of Publication 946. College students filing taxes Residential rental property. College students filing taxes   You must use the straight line method and a mid-month convention for residential rental property. College students filing taxes In the first year that you claim depreciation for residential rental property, you can claim depreciation only for the number of months the property is in use, and you must use the mid-month convention (explained under Conventions , earlier). College students filing taxes 5-, 7-, or 15-year property. College students filing taxes   For property in the 5- or 7-year class, use the 200% declining balance method and a half-year convention. College students filing taxes However, in limited cases you must use the mid-quarter convention, if it applies. College students filing taxes For property in the 15-year class, use the 150% declining balance method and a half-year convention. College students filing taxes   You can also choose to use the 150% declining balance method for property in the 5- or 7-year class. College students filing taxes The choice to use the 150% method for one item in a class of property applies to all property in that class that is placed in service during the tax year of the election. College students filing taxes You make this election on Form 4562. College students filing taxes In Part III, column (f), enter “150 DB. College students filing taxes ” Once you make this election, you cannot change to another method. College students filing taxes   If you use either the 200% or 150% declining balance method, you figure your deduction using the straight line method in the first tax year that the straight line method gives you an equal or larger deduction. College students filing taxes   You can also choose to use the straight line method with a half-year or mid-quarter convention for 5-, 7-, or 15-year property. College students filing taxes The choice to use the straight line method for one item in a class of property applies to all property in that class that is placed in service during the tax year of the election. College students filing taxes You elect the straight line method on Form 4562. College students filing taxes In Part III, column (f), enter “S/L. College students filing taxes ” Once you make this election, you cannot change to another method. College students filing taxes MACRS Percentage Tables You can use the percentages in Table 2-2, earlier, to compute annual depreciation under MACRS. College students filing taxes The tables show the percentages for the first few years or until the change to the straight line method is made. College students filing taxes See Appendix A of Publication 946 for complete tables. College students filing taxes The percentages in Tables 2-2a, 2-2b, and 2-2c make the change from declining balance to straight line in the year that straight line will give a larger deduction. College students filing taxes If you elect to use the straight line method for 5-, 7-, or 15-year property, or the 150% declining balance method for 5- or 7-year property, use the tables in Appendix A of Publication 946. College students filing taxes How to use the percentage tables. College students filing taxes   You must apply the table rates to your property's unadjusted basis (defined below) each year of the recovery period. College students filing taxes   Once you begin using a percentage table to figure depreciation, you must continue to use it for the entire recovery period unless there is an adjustment to the basis of your property for a reason other than: Depreciation allowed or allowable, or An addition or improvement that is depreciated as a separate item of property. College students filing taxes   If there is an adjustment for any reason other than (1) or (2), for example, because of a deductible casualty loss, you can no longer use the table. College students filing taxes For the year of the adjustment and for the remaining recovery period, figure depreciation using the property's adjusted basis at the end of the year and the appropriate depreciation method, as explained earlier under Figuring Your Depreciation Deduction . College students filing taxes See Figuring the Deduction Without Using the Tables in Publication 946, chapter 4. College students filing taxes Unadjusted basis. College students filing taxes   This is the same basis you would use to figure gain on a sale (see Basis of Depreciable Property , earlier), but without reducing your original basis by any MACRS depreciation taken in earlier years. College students filing taxes   However, you do reduce your original basis by other amounts claimed on the property, including: Any amortization, Any section 179 deduction, and Any special depreciation allowance. College students filing taxes For more information, see chapter 4 of Publication 946. College students filing taxes Please click here for the text description of the image. College students filing taxes Table 2-2 Tables 2-2a, 2-2b, and 2-2c. College students filing taxes   The percentages in these tables take into account the half-year and mid-quarter conventions. College students filing taxes Use Table 2-2a for 5-year property, Table 2-2b for 7-year property, and Table 2-2c for 15-year property. College students filing taxes Use the percentage in the second column (half-year convention) unless you are required to use the mid-quarter convention (explained earlier). College students filing taxes If you must use the mid-quarter convention, use the column that corresponds to the calendar year quarter in which you placed the property in service. College students filing taxes Example 1. College students filing taxes You purchased a stove and refrigerator and placed them in service in June. College students filing taxes Your basis in the stove is $600 and your basis in the refrigerator is $1,000. College students filing taxes Both are 5-year property. College students filing taxes Using the half-year convention column in Table 2-2a, the depreciation percentage for Year 1 is 20%. College students filing taxes For that year your depreciation deduction is $120 ($600 × . College students filing taxes 20) for the stove and $200 ($1,000 × . College students filing taxes 20) for the refrigerator. College students filing taxes For Year 2, the depreciation percentage is 32%. College students filing taxes That year's depreciation deduction will be $192 ($600 × . College students filing taxes 32) for the stove and $320 ($1,000 × . College students filing taxes 32) for the refrigerator. College students filing taxes Example 2. College students filing taxes Assume the same facts as in Example 1, except you buy the refrigerator in October instead of June. College students filing taxes Since the refrigerator was placed in service in the last 3 months of the tax year, and its basis ($1,000) is more than 40% of the total basis of all property placed in service during the year ($1,600 × . College students filing taxes 40 = $640), you are required to use the mid-quarter convention to figure depreciation on both the stove and refrigerator. College students filing taxes Because you placed the refrigerator in service in October, you use the fourth quarter column of Table 2-2a and find the depreciation percentage for Year 1 is 5%. College students filing taxes Your depreciation deduction for the refrigerator is $50 ($1,000 x . College students filing taxes 05). College students filing taxes Because you placed the stove in service in June, you use the second quarter column of Table 2-2a and find the depreciation percentage for Year 1 is 25%. College students filing taxes For that year, your depreciation deduction for the stove is $150 ($600 x . College students filing taxes 25). College students filing taxes Table 2-2d. College students filing taxes    Use this table when you are using the GDS 27. College students filing taxes 5 year option for residential rental property. College students filing taxes Find the row for the month that you placed the property in service. College students filing taxes Use the percentages listed for that month to figure your depreciation deduction. College students filing taxes The mid-month convention is taken into account in the percentages shown in the table. College students filing taxes Continue to use the same row (month) under the column for the appropriate year. College students filing taxes Example. College students filing taxes You purchased a single family rental house for $185,000 and placed it in service on February 8. College students filing taxes The sales contract showed that the building cost $160,000 and the land cost $25,000. College students filing taxes Your basis for depreciation is its original cost, $160,000. College students filing taxes This is the first year of service for your residential rental property and you decide to use GDS which has a recovery period of 27. College students filing taxes 5 years. College students filing taxes Using Table 2-2d, you find that the percentage for property placed in service in February of Year 1 is 3. College students filing taxes 182%. College students filing taxes That year's depreciation deduction is $5,091 ($160,000 x . College students filing taxes 03182). College students filing taxes Figuring MACRS Depreciation Under ADS Table 2–1, earlier, shows the ADS recovery periods for property used in rental activities. College students filing taxes See Appendix B in Publication 946 for other property. College students filing taxes If your property is not listed in Appendix B, it is considered to have no class life. College students filing taxes Under ADS, personal property with no class life is depreciated using a recovery period of 12 years. College students filing taxes Use the mid-month convention for residential rental property and nonresidential real property. College students filing taxes For all other property, use the half-year or mid-quarter convention, as appropriate. College students filing taxes See Publication 946 for ADS depreciation tables. College students filing taxes Claiming the Correct Amount of Depreciation You should claim the correct amount of depreciation each tax year. College students filing taxes If you did not claim all the depreciation you were entitled to deduct, you must still reduce your basis in the property by the full amount of depreciation that you could have deducted. College students filing taxes For more information, see Depreciation under Decreases to Basis in Publication 551. College students filing taxes If you deducted an incorrect amount of depreciation for property in any year, you may be able to make a correction by filing Form 1040X, Amended U. College students filing taxes S. College students filing taxes Individual Income Tax Return. College students filing taxes If you are not allowed to make the correction on an amended return, you can change your accounting method to claim the correct amount of depreciation. College students filing taxes Filing an amended return. College students filing taxes   You can file an amended return to correct the amount of depreciation claimed for any property in any of the following situations. College students filing taxes You claimed the incorrect amount because of a mathematical error made in any year. College students filing taxes You claimed the incorrect amount because of a posting error made in any year. College students filing taxes You have not adopted a method of accounting for property placed in service by you in tax years ending after December 29, 2003. College students filing taxes You claimed the incorrect amount on property placed in service by you in tax years ending before December 30, 2003. College students filing taxes   Generally, you adopt a method of accounting for depreciation by using a permissible method of determining depreciation when you file your first tax return for the property used in your rental activity. College students filing taxes This also occurs when you use the same impermissible method of determining depreciation (for example, using the wrong MACRS recovery period) in two or more consecutively filed tax returns. College students filing taxes   If an amended return is allowed, you must file it by the later of the following dates. College students filing taxes 3 years from the date you filed your original return for the year in which you did not deduct the correct amount. College students filing taxes A return filed before an unextended due date is considered filed on that due date. College students filing taxes 2 years from the time you paid your tax for that year. College students filing taxes Changing your accounting method. College students filing taxes   To change your accounting method, you generally must file Form 3115, Application for Change in Accounting Method, to get the consent of the IRS. College students filing taxes In some instances, that consent is automatic. College students filing taxes For more information, see Changing Your Accounting Method in Publication 946,  chapter 1. College students filing taxes Prev  Up  Next   Home   More Online Publications
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The College Students Filing Taxes

College students filing taxes 30. College students filing taxes   Cómo Calcular los Impuestos Table of Contents Introduction Cómo Calcular los Impuestos Impuesto Mínimo Alternativo (AMT) Impuestos Calculados por el IRS Cómo Presentar la Declaración Introduction Una vez que haya calculado los ingresos y deducciones según se explica en las Partes Uno a Cinco, calcule los impuestos. College students filing taxes Este capítulo trata sobre los temas siguientes: Los pasos a seguir para calcular los impuestos, Un impuesto adicional que podría verse obligado a pagar, el cual se denomina “impuesto mínimo alternativo” (AMT, por sus siglas en inglés) y Las condiciones que tiene que cumplir si desea que el IRS le calcule los impuestos. College students filing taxes Cómo Calcular los Impuestos El impuesto sobre los ingresos se basa en los ingresos tributables. College students filing taxes Después de haber calculado el impuesto sobre los ingresos y el impuesto mínimo alternativo, si lo hubiera, reste los créditos tributarios y sume cualquier otro impuesto adeudado. College students filing taxes El resultado es el total de los impuestos. College students filing taxes Compare el total de los impuestos con el total de los pagos que ha efectuado para saber si tiene derecho a un reembolso o si tiene que efectuar un pago. College students filing taxes Esta sección expone los puntos generales para calcular el impuesto. College students filing taxes Puede encontrar instrucciones detalladas en las Instrucciones de los Formularios 1040EZ, 1040A y 1040. College students filing taxes Si no está seguro de qué formulario tributario debe presentar, vea ¿Qué Formulario Debo Usar? , en el capítulo 1. College students filing taxes Impuestos. College students filing taxes   La mayor parte de los contribuyentes utiliza la Tabla de Impuestos o la Hoja de Trabajo para el Cálculo del Impuesto para calcular el impuesto sobre el ingreso. College students filing taxes No obstante, existen métodos especiales si los ingresos incluyen cualquiera de los siguientes puntos: Una ganancia neta de capital. College students filing taxes (Vea el capítulo 16). College students filing taxes Dividendos calificados gravados a la misma tasa que una ganancia neta de capital. College students filing taxes (Vea los capítulos 8 y 16). College students filing taxes Distribuciones de suma global. College students filing taxes (Vea el capítulo 10). College students filing taxes Ingresos procedentes de la agricultura o pesca. College students filing taxes (Vea el Anexo J del Formulario 1040, Income Averaging for Farmers and Fishermen (Cómo calcular el promedio de ingresos para los agricultores y pescadores), en inglés. College students filing taxes Ingresos de inversiones de más de $2,000 para determinados hijos. College students filing taxes (Vea el capítulo 31). College students filing taxes Elección del padre o de la madre de declarar los intereses y dividendos de un hijo. College students filing taxes (Vea el capítulo 31). College students filing taxes Exclusión de ingresos devengados en el extranjero o exclusión por concepto de vivienda en el extranjero. College students filing taxes (Vea el Formulario 2555, Foreign Earned Income (Ingresos devengados en el extranjero) o el Formulario 2555-EZ, Foreign Earned Income Exclusion (Exclusión de ingresos devengados en el extranjero) y el Foreign Earned Income Tax Worksheet (Hoja de trabajo para los impuestos sobre ingresos devengados en el extranjero) de las Instrucciones del Formulario 1040), todos en inglés. College students filing taxes Créditos. College students filing taxes   Luego de haber calculado el impuesto sobre los ingresos y todo impuesto mínimo alternativo (explicado más adelante), verifique si tiene derecho a algún crédito tributario. College students filing taxes Puede encontrar información para saber si tiene derecho a estos créditos tributarios en los capítulos 32 al 37 y en las instrucciones de los formularios de impuestos. College students filing taxes La tabla a continuación muestra los créditos que tal vez pueda restar del impuesto y le indica en dónde puede encontrar más información sobre cada crédito. College students filing taxes CRÉDITOS Para información sobre: Vea el   capítulo: Adopción 37 Vehículo motorizado alternativo 37 Propiedad para reabastecimiento de vehículos con combustible alternativo 37 Cuidado de menores y dependientes 32 Crédito tributario por hijos 34 Crédito para titulares de bonos de crédito tributario 37 Estudios 35 Ancianos o personas incapacitadas 33 Crédito por vehículos eléctricos 37 Impuestos del extranjero 37 Intereses hipotecarios 37 Impuesto mínimo de años anteriores 37 Energía residencial 37 Aportaciones a arreglos de ahorros para la jubilación 37   Hay algunos créditos (como el crédito por ingreso del trabajo) que no aparecen en la lista porque se consideran pagos. College students filing taxes Vea Pagos , más adelante. College students filing taxes   Existen otros créditos no abordados en esta publicación. College students filing taxes Éstos abarcan los siguientes créditos: Crédito general para negocios, el cual se compone de distintos créditos relacionados con los negocios. College students filing taxes Éstos suelen declararse en el Formulario 3800, General Business Credit (Crédito general para negocios) y se explican en el capítulo 4 de la Publicación 334, Tax Guide for Small Business (Guía tributaria para pequeños negocios), ambos en inglés. College students filing taxes Crédito por producción de electricidad renovable, carbón refinado y carbón de yacimientos en tierras pertenecientes a indios para electricidad y carbón refinado producidos en instalaciones puestas en funcionamiento después del 22 de octubre de 2004 (después del 2 de octubre de 2008, para la electricidad producida mediante la energía hidrocinética renovable y la energía marina renovable) y carbón de yacimientos en tierras pertenecientes a indios producido en instalaciones puestas en funcionamiento después del 8 de agosto de 2005. College students filing taxes Vea la Parte II del Formulario 8835, Renewable Electricity, Refined Coal, and Indian Coal Production Credit (Crédito por producción de electricidad renovable, carbón refinado y carbón de yacimientos en tierras pertenecientes a indios), en inglés. College students filing taxes Crédito de oportunidad laboral. College students filing taxes Vea el Formulario 5884, Work Opportunity Credit (Crédito de oportunidad laboral), en inglés. College students filing taxes Crédito por impuestos del Seguro Social y Medicare del empleador pagados sobre ciertas propinas del empleado. College students filing taxes Vea el Formulario 8846, Credit for Employer Social Security and Medicare Taxes Paid on Certain Employee Tips (Crédito por impuestos del Seguro Social y del Medicare pagados por el empleador sobre ciertas propinas del empleado), en inglés. College students filing taxes Otros impuestos. College students filing taxes   Después de haber restado los créditos tributarios, determine si tiene que pagar impuestos adicionales. College students filing taxes Este capítulo no explica dichos impuestos adicionales. College students filing taxes Esa información aparece en otros capítulos de esta publicación y en las instrucciones de los formularios. College students filing taxes Consulte la tabla siguiente para ver otros impuestos que tal vez necesite sumar al impuesto sobre los ingresos. College students filing taxes OTROS IMPUESTOS Para información sobre: Vea el   capítulo: Impuestos adicionales sobre planes de jubilación y arreglos IRA calificados 10, 17 Impuestos sobre el empleo de empleados domésticos 32 Recuperación de un crédito para estudios 35 Impuesto del Seguro Social y Medicare sobre el salario 5 Impuesto del Seguro Social y Medicare sobre las propinas 6 Impuestos no retenidos del Seguro Social y Medicare sobre propinas 6   Usted quizás podría verse obligado a pagar el impuesto mínimo alternativo (el cual se explica más adelante en este capítulo). College students filing taxes   Existen impuestos adicionales que no se explican en esta publicación. College students filing taxes Éstos abarcan lo siguiente: Impuesto sobre el trabajo por cuenta propia. College students filing taxes Tiene que calcular este impuesto si cualquiera de las dos condiciones siguientes le corresponde (o a su cónyuge, si usted presenta una declaración conjunta). College students filing taxes Tiene ganancias netas provenientes del trabajo por cuenta propia de $400 o más, salvo ingresos de un empleado de una iglesia. College students filing taxes El término “ganancias netas provenientes del trabajo por cuenta propia” puede incluir determinada remuneración que no recibió como empleado y otras cantidades detalladas en el Formulario 1099-MISC, Miscellaneous Income (Ingresos misceláneos), en inglés. College students filing taxes Si recibió el Formulario 1099-MISC, vea las Instructions for Recipient (Instrucciones para el destinatario), al dorso del mismo. College students filing taxes Asimismo, vea las instrucciones del Anexo SE del Formulario 1040, Self-Employment Tax (Impuesto sobre el trabajo por cuenta propia) y la Publicación 334, Tax Guide for Small Business (Guía tributaria para pequeños negocios), ambas en inglés. College students filing taxes Recibió ingresos de $108. College students filing taxes 28 o más como empleado de una iglesia. College students filing taxes Impuesto Adicional del Medicare. College students filing taxes Comenzando en el año 2013, usted quizás podría estar sujeto a un Impuesto Adicional del Medicare de 0. College students filing taxes 9%, que se le aplica a los salarios sujetos al impuesto Medicare, la remuneración recibida conforme a la Railroad Retirement Act (Ley de Jubilación Ferroviaria) y el ingreso sobre el trabajo por cuenta propia que esté sobre cierta cantidad según su estado civil para efectos de la declaración. College students filing taxes Si desea más información, vea las instrucciones para la línea 60 del Formulario 1040 y las Instrucciones para el Formulario 8959, ambas disponibles en inglés. College students filing taxes Impuesto sobre los ingresos netos de inversión (NIIT, por sus siglas en inglés). College students filing taxes Comenzando en el año 2013, usted quizás podría estar sujeto al impuesto sobre los ingresos netos de inversión (NIIT, por sus siglas en inglés). College students filing taxes El NIIT es un impuesto de 3. College students filing taxes 8% sobre la cantidad menor entre el ingreso neto de inversión o la cantidad en exceso de su ingreso bruto ajustado modificado sobre una cantidad límite. College students filing taxes Si desea más información, vea las instrucciones para la línea 60 del Formulario 1040 y las Instrucciones para el Formulario 8960, ambas disponibles en inglés. College students filing taxes Impuestos sobre recuperaciones. College students filing taxes Podría verse obligado a pagar estos impuestos si antes ha reclamado un crédito por inversiones, crédito de vivienda para personas de bajos recursos, crédito por mercados nuevos, crédito por vehículos enchufables con motor de dirección eléctrica que reúnen los requisitos, crédito por vehículo motorizado alternativo, crédito por instalaciones para proveer cuidado de niños provistas por el empleador, crédito por empleo de indios estadounidenses u otros créditos enumerados en las instrucciones para la línea 60 del Formulario 1040. College students filing taxes Para información adicional, vea las instrucciones para la línea 60 del Formulario 1040. College students filing taxes Impuesto sobre beneficios en exceso de la sección 72(m)(5). College students filing taxes Si usted es (o fue) propietario del 5% de un negocio y recibió una distribución superior a los beneficios que se le ofrecen conforme a la fórmula para planes de pensiones o de anualidades calificados, tal vez tenga que pagar este impuesto adicional. College students filing taxes Vea Tax on Excess Benefits (Impuesto sobre beneficios en exceso), en el capítulo 4 de la Publicación 560, Retirement Plans for Small Business (Planes de jubilación para pequeños negocios), en inglés. College students filing taxes Impuesto del Seguro Social y Medicare sobre el seguro de vida colectivo a término fijo que no fue recaudado. College students filing taxes Si su antiguo empleador proveyó más de $50,000 en cobertura de seguro de vida colectivo a término fijo, usted tiene que pagar la parte correspondiente al empleado de los impuestos del Seguro Social y Medicare sobre esas primas. College students filing taxes La cantidad debe aparecer en el recuadro 12 del Formulario W-2 con los códigos M y N. College students filing taxes Impuestos sobre pagos de contrato blindado. College students filing taxes Este impuesto le corresponde si recibió un “pago de contrato blindado en exceso” ( “excess parachute payment” o EPP, por sus siglas en inglés) debido a un cambio de propietario o administración de la empresa. College students filing taxes La cantidad de este impuesto debe estar indicada en el recuadro 12 del Formulario W-2 con el código K. College students filing taxes Vea las instrucciones para la línea 60 del Formulario 1040. College students filing taxes Impuestos sobre distribuciones acumuladas de fideicomisos. College students filing taxes Esto le corresponde si es el beneficiario de un fideicomiso que haya acumulado ingresos, en vez de haberlos distribuido a intervalos regulares. College students filing taxes Vea el Formulario 4970, Tax on Accumulation Distribution of Trusts (Impuestos sobre distribuciones acumuladas de fideicomisos), y sus instrucciones, en inglés. College students filing taxes Impuestos adicionales sobre las cuentas HSA o MSA. College students filing taxes Puede que tenga que pagar impuestos adicionales si las cantidades que se han aportado a su cuenta de ahorros para la salud (HSA, por sus siglas en inglés) o su cuenta de ahorros para gastos médicos (MSA, por sus siglas en inglés) o las cantidades que se han distribuido de éstas no cumplen los requisitos correspondientes a dichas cuentas. College students filing taxes Vea la Publicación 969, Health Savings Accounts and Other Tax-Favored Health Plans (Cuentas de ahorros para la salud y otros planes para la salud con beneficios tributarios); el Formulario 8853, Archer MSAs and Long-Term Care Insurance Contracts (Cuentas Archer MSA de ahorros médicos y contratos del seguro de cuidado a largo plazo); Formulario 8889, Health Savings Accounts (HSAs) (Cuentas de ahorros médicos (HSA, por sus siglas en inglés)) y el Formulario 5329, Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts (Impuestos adicionales sobre planes calificados (incluidos los arreglos IRA) y otras cuentas con beneficios tributarios), todos en inglés. College students filing taxes Impuestos adicionales en cuentas Coverdell ESA para estudios. College students filing taxes Esto es aplicable si las cantidades que se han aportado a su cuenta Coverdell ESA para estudios o que se han distribuido de la misma no satisfacen los requisitos correspondientes a dichas cuentas. College students filing taxes Vea la Publicación 970, Tax Benefits for Education (Prestaciones tributarias para estudios) y el Formulario 5329, ambos en inglés. College students filing taxes Impuestos adicionales sobre programas de matrícula calificada. College students filing taxes Esto corresponde a cantidades distribuidas de programas de matrícula calificada generales pero que no cumplan los requisitos de dichas cuentas. College students filing taxes Vea la Publicación 970 y el Formulario 5329, ambos en inglés. College students filing taxes Impuestos sobre artículos de uso y consumo gravados sobre remuneraciones de acciones internas de una empresa expatriada. College students filing taxes Tal vez adeude un impuesto sobre artículos de uso y consumo del 15% sobre el valor de opciones de acciones no estatutarias y sobre otra remuneración determinada procedente de las acciones, de las cuales usted o un miembro de su familia es dueño, que es de una empresa expatriada o su grupo ampliado de filiales en las que usted fue ejecutivo, directivo o propietario de más del 10%. College students filing taxes Para información adicional, vea las instrucciones para la línea 60 del Formulario 1040. College students filing taxes Impuestos adicionales sobre ingresos recibidos de un plan de remuneración diferida no calificado que no reúna determinados requisitos adicionales. College students filing taxes Estos ingresos tienen que aparecer en el recuadro 12 del Formulario W-2, con el código Z o en el recuadro 15b del Formulario 1099-MISC. College students filing taxes Para información adicional, vea las instrucciones para la línea 60 del Formulario 1040. College students filing taxes Intereses sobre los impuestos adeudados sobre ingresos de pagos a plazo procedentes de la venta de ciertos terrenos residenciales y multipropiedades. College students filing taxes Para información adicional, vea las instrucciones para la línea 60 del Formulario 1040. College students filing taxes Intereses sobre los impuestos diferidos sobre ganancias de ciertas ventas a plazos con precio de venta superior a $150,000. College students filing taxes Para información adicional, vea las instrucciones para la línea 60 del Formulario 1040. College students filing taxes Devolución del crédito tributario para comprador de primera vivienda. College students filing taxes Si desea más información, vea el Formulario 5405, Repayment of the First-Time Homebuyer Credit (Devolución del crédito tributario para comprador de primera vivienda) y sus instrucciones, disponibles en inglés. College students filing taxes Además, vea las instrucciones para la línea 59b del Formulario 1040, en inglés. College students filing taxes Pagos. College students filing taxes   Después de calcular el impuesto total, calcule el total de los pagos que ya haya efectuado para el año. College students filing taxes Incluya los créditos que se tratan como pagos. College students filing taxes Este capítulo no explica dichos pagos ni créditos. College students filing taxes Esa información aparece en otros capítulos de esta publicación y en las instrucciones de los formularios. College students filing taxes Vea la siguiente tabla para saber qué cantidades se pueden incluir en el total de sus pagos. College students filing taxes PAGOS Para información sobre: Vea el   capítulo: Crédito tributario por hijos (adicional) 34 Crédito por ingreso del trabajo 36 Impuestos estimados pagados 4 Impuestos de Seguro Social o impuestos de la jubilación ferroviaria retenidos en exceso 37 Retención del impuesto federal sobre los ingresos 4 Crédito tributario por cobertura del seguro médico 37 Crédito por sociedad inversionista reglamentada 37 Impuesto pagado a través de prórroga 1   Otro crédito que se considera un pago es el crédito por concepto del impuesto federal sobre artículos de uso y consumo pagado sobre combustibles. College students filing taxes Este crédito es para personas que hagan uso no tributable de determinados combustibles, tales como diésel y keroseno. College students filing taxes Se declara en la línea 70 del Formulario 1040. College students filing taxes Vea el Formulario 4136, Credit for Federal Tax Paid on Fuels (Crédito por impuestos federales pagados sobre combustibles), en inglés. College students filing taxes Reembolso o saldo adeudado. College students filing taxes   Para saber si tiene derecho a recibir un reembolso o si tiene que efectuar algún pago, compare el total de los pagos con el total del impuesto. College students filing taxes Si tiene derecho a un reembolso, vea las instrucciones del formulario que presentará para saber cómo puede depositar dicho reembolso directamente en una o más de sus cuentas o para comprar bonos de ahorros de los Estados Unidos en vez de recibir un cheque en papel. College students filing taxes Impuesto Mínimo Alternativo (AMT) Esta sección explica brevemente el impuesto adicional que podría verse obligado a pagar. College students filing taxes La ley tributaria les da un trato especial a determinados tipos de ingresos y permite deducciones y créditos especiales para algunos tipos de gastos. College students filing taxes Los contribuyentes que se vean beneficiados por este trato particular podrían estar obligados a pagar al menos una cantidad mínima de impuestos mediante otro impuesto adicional denominado “impuesto mínimo alternativo” (AMT, por sus siglas en inglés). College students filing taxes Tal vez tenga que pagar el impuesto mínimo alternativo si sus ingresos tributables para fines tributarios normales, sumados a determinados ajustes y elementos de preferencia tributaria, superan una determinada cantidad. College students filing taxes Vea el Formulario 6251, Alternative Minimum Tax — Individuals (Impuesto mínimo alternativo — personas físicas), en inglés. College students filing taxes Ajustes y elementos de preferencia tributaria. College students filing taxes   Los ajustes más comunes y elementos de preferencia tributaria abarcan los siguientes casos: Inclusión de exenciones personales, Inclusión de la deducción estándar (si ésta se reclamó), Inclusión de deducciones detalladas por concepto de impuestos estatales y locales, determinados intereses, la mayor parte de las deducciones misceláneas y parte de los gastos médicos, Exclusión de todo reembolso de impuestos estatales y locales que se haya incluido en los ingresos brutos, Cambios en la depreciación acelerada de determinados bienes, La diferencia entre ganancias y pérdidas sobre la venta de bienes declarada para fines tributarios normales y del impuesto mínimo alternativo, Inclusión de determinados ingresos procedentes de opciones de compra de acciones con incentivo, Cambio en ciertas deducciones por pérdidas de actividades pasivas, Inclusión de algún valor de agotamiento que sea superior a la base ajustada de los bienes, Inclusión de una parte de la deducción por ciertos gastos de perforación intangibles e Inclusión de intereses exentos de impuestos sobre determinados bonos de una actividad privada. College students filing taxes Información adicional. College students filing taxes   Para más información acerca del impuesto mínimo alternativo, vea las Instrucciones para el Formulario 6251, en inglés. College students filing taxes Impuestos Calculados por el IRS Si presenta la declaración para el 15 de abril de 2014, puede pedir que el IRS le calcule los impuestos en el Formulario 1040EZ, el Formulario 1040A o el Formulario 1040. College students filing taxes Si el IRS le calcula los impuestos y usted pagó demasiado, recibirá un reembolso. College students filing taxes Si no pagó lo suficiente, recibirá una factura que indique el saldo adeudado. College students filing taxes Para no tener que pagar intereses o una multa por pagos morosos, tiene que pagar la factura dentro de 30 días a partir de la fecha de la factura o para la fecha de vencimiento para la presentación de la declaración, la que ocurra más tarde. College students filing taxes El IRS también le calcula el crédito para ancianos o personas incapacitadas además del crédito por ingreso del trabajo. College students filing taxes Cuándo el IRS no puede calcularle los impuestos. College students filing taxes   El IRS no puede calcularle los impuestos si se da alguna de las siguientes condiciones: Desea que el reembolso se deposite directamente en sus cuentas. College students filing taxes Desea que alguna parte del reembolso se aplique al impuesto estimado de 2014. College students filing taxes Recibió ingresos para el año de fuentes que no sean salarios, sueldos, propinas, intereses, dividendos, beneficios de Seguro Social sujetos a impuestos, compensación por desempleo, distribuciones de un arreglo IRA, pensiones y anualidades. College students filing taxes Su ingreso tributable es $100,000 o más. College students filing taxes Detalla las deducciones. College students filing taxes Presenta cualquiera de los siguientes formularios: Formulario 2555, Foreign Earned Income (Ingresos devengados en el extranjero), en inglés. College students filing taxes Formulario 2555-EZ, Foreign Earned Income Exclusion (Exclusión de ingresos devengados en el extranjero), en inglés. College students filing taxes Formulario 4137, Social Security and Medicare Tax on Unreported Tip Income (Impuestos del Seguro Social y Medicare sobre el ingreso de propinas no declaradas), en inglés. College students filing taxes Formulario 4970, Tax on Accumulation Distribution of Trusts (Impuesto sobre distribuciones acumuladas de un fideicomiso), en inglés. College students filing taxes Formulario 4972, Tax on Lump-Sum Distributions (Impuesto sobre distribuciones de sumas globales), en inglés. College students filing taxes Formulario 6198, At-Risk Limitations (Límites sobre el monto en riesgo), en inglés. College students filing taxes Formulario 6251, Alternative Minimum Tax—Individuals (Impuesto mínimo alternativo—personas físicas), en inglés. College students filing taxes Formulario 8606, Nondeductible IRAs (Arreglos IRA no deducibles), en inglés. College students filing taxes Formulario 8615, Tax for Certain Children Who Have Unearned Income (Impuesto para determinados hijos con ingresos no derivados del trabajo), en inglés. College students filing taxes Formulario 8814, Parents' Election To Report Child's Interest and Dividends (Decisión de los padres de declarar los intereses y dividendos del hijo), en inglés. College students filing taxes Formulario 8839, Qualified Adoption Expenses (Gastos de adopción calificados), en inglés. College students filing taxes Formulario 8853, Archer MSAs and Long-Term Care Insurance Contracts (Planes de ahorros para gastos médicos Archer y contratos de seguro para cuidados a largo plazo), en inglés. College students filing taxes Formulario 8889, Health Savings Accounts (HSAs) (Cuentas de ahorro para gastos médicos (HSA)), en inglés. College students filing taxes Formulario 8919, Uncollected Social Security and Medicare Tax on Wages (Impuestos sobre salarios sujetos al Seguro Social y al Medicare no recaudados), en inglés. College students filing taxes Cómo Presentar la Declaración Después de haber completado las líneas del formulario de impuestos que va a presentar, escriba su nombre y dirección. College students filing taxes En el espacio provisto, anote su número de Seguro Social. College students filing taxes Si es casado, escriba los números de Seguro Social de usted y su cónyuge aun si presenta una declaración por separado. College students filing taxes Firme y feche la declaración y escriba su(s) oficio(s). College students filing taxes Si presenta una declaración conjunta, usted y su cónyuge tienen que firmarla. College students filing taxes En el espacio provisto, anote un número telefónico con su código de área donde ubicarlo durante el día. College students filing taxes Esto agilizará la tramitación de su declaración si el IRS tiene una pregunta que puede ser resuelta por teléfono. College students filing taxes Si presenta una declaración conjunta de impuestos, anote el número de teléfono donde usted o su cónyuge pueden ser localizados durante el día. College students filing taxes Si desea autorizar al IRS para que hable sobre su declaración de impuestos del año 2013 con su amigo, con un miembro de su familia o con cualquier persona que usted elija, marque el recuadro “ Yes ” (Sí) en el área titulada “ Third Party Designee ” (Designación de un tercero) de su declaración de impuestos. College students filing taxes También, escriba el nombre del designado, número de teléfono y cualesquier 5 dígitos que el designado elija como su número de identificación personal (PIN, por sus siglas en inglés). College students filing taxes Si marca el recuadro “ Yes ” (Sí), usted y su cónyuge, si presentan una declaración conjunta, autoriza(n) a los empleados del IRS a llamar al designado para que éste conteste toda pregunta que surja durante el trámite de su declaración de impuestos. College students filing taxes Complete y adjunte a su declaración en papel cualesquier anexo y formulario solicitado en las líneas que usted completó. College students filing taxes Adjunte una copia de cada uno de los Formularios W-2 a la declaración en papel. College students filing taxes Además, adjunte a su declaración en papel todo Formulario 1099-R recibido que indique retención de impuestos en el recuadro 4. College students filing taxes Envíe la declaración al Internal Revenue Service Center (Centro de Servicio del IRS) que corresponda al área donde vive. College students filing taxes Una lista de direcciones de Centros de Servicio se halla al final de la publicación y en las instrucciones de su declaración de impuestos. College students filing taxes Datos a Incluir en el Formulario 1040EZ Lea las líneas 1 a 8b y llene las líneas que le correspondan. College students filing taxes No llene las líneas 9 a 12. College students filing taxes Si presenta una declaración conjunta, utilice el espacio a la izquierda de la línea 6 para indicar por separado los ingresos tributables suyos y los de su cónyuge. College students filing taxes Pagos. College students filing taxes   Anote en la línea 7 todo impuesto federal sobre los ingresos que se le haya retenido. College students filing taxes El impuesto federal sobre los ingresos retenido aparece en el recuadro 2 del Formulario W-2 o en el recuadro 4 del Formulario 1099. College students filing taxes Crédito por ingreso del trabajo. College students filing taxes   Si puede reclamar este crédito, según se explica en el capítulo 36 , el IRS se lo puede calcular. College students filing taxes Escriba “EIC” en el espacio a la izquierda de la línea 8a. College students filing taxes Anote en la línea 8b la paga no tributable por combate que desee incluir en los ingresos derivados del trabajo. College students filing taxes   Si su crédito de cualquier año posterior a 1996 fue reducido o denegado por el IRS, quizás tenga que presentar junto con la declaración el Formulario 8862(SP), Información Para Reclamar el Crédito Por Ingreso del Trabajo Después de Haber Sido Denegado (o el Formulario 8862, Information To Claim Earned Income Credit After Disallowance, en inglés). College students filing taxes Para detalles adicionales, vea las Instrucciones para el Formulario 1040EZ, en inglés. College students filing taxes Datos a Incluir en el Formulario 1040A Lea las líneas 1 a 27 y llene las líneas que le correspondan. College students filing taxes Si presenta una declaración conjunta, utilice el espacio a la izquierda de la línea 27 para indicar por separado los ingresos tributables suyos y los de su cónyuge. College students filing taxes No llene la línea 28. College students filing taxes Llene las líneas 29 a 33 y 36 a 40 si le corresponden. College students filing taxes Sin embargo, no llene las líneas 30 ni 38a si desea que el IRS le calcule los créditos indicados en dichas líneas. College students filing taxes Además, escriba toda información adicional que le corresponda en el espacio a la izquierda de la línea 41. College students filing taxes No llene las líneas 34, 35 ni 42 a la 46. College students filing taxes Pagos. College students filing taxes   Anote todo impuesto federal retenido sobre los ingresos que se indique en el recuadro 2 del Formulario W-2 o en el recuadro 4 del Formulario 1099, en la línea 36. College students filing taxes Anote en la línea 37 todo pago de impuesto estimado que haya efectuado. College students filing taxes Crédito por gastos del cuidado de menores y dependientes. College students filing taxes   Si puede reclamar este crédito, según se explica en el capítulo 32 , complete el Formulario 2441, Child and Dependent Care Expenses (Gastos del cuidado de menores y dependientes), en inglés, y adjúntelo a su declaración. College students filing taxes Anote la cantidad del crédito en la línea 29. College students filing taxes El IRS no le calculará este crédito. College students filing taxes Crédito para ancianos o personas incapacitadas. College students filing taxes   Si puede reclamar este crédito, según se explica en el capítulo 33 , el IRS le calculará este crédito. College students filing taxes Escriba “ CFE ” en el espacio a la izquierda de la línea 30 y adjunte el Anexo R del Formulario 1040, Credit for the Elderly or the Disabled (Crédito para ancianos o personas incapacitadas), en inglés, a su declaración de impuestos en papel. College students filing taxes En el Anexo R, marque el recuadro de la Parte I correspondiente a su estado civil para efectos de la declaración y edad. College students filing taxes Complete la Parte II y las líneas 11 y 13 de la Parte III, si le corresponden. College students filing taxes Crédito por ingreso del trabajo. College students filing taxes   Si puede reclamar este crédito, según se explica en el capítulo 36 , el IRS se lo calculará. College students filing taxes Anote “EIC” a la izquierda del espacio de la línea 38a. College students filing taxes Anote en la línea 38b la paga no tributable por combate que desee incluir en los ingresos derivados del trabajo. College students filing taxes   Si tiene un hijo que le da derecho a este crédito, tiene que llenar el Anexo EIC (Formulario 1040 ó 1040A), Earned Income Credit (Crédito por ingreso del trabajo), en inglés, y adjuntarlo a su declaración en papel. College students filing taxes Si no provee el número de Seguro Social de su hijo en la línea 2 del Anexo EIC, el crédito será reducido o denegado a menos que el hijo haya nacido y fallecido en el año 2013. College students filing taxes   Si su crédito de cualquier año posterior a 1996 fue reducido o denegado por el IRS, tal vez tenga que presentar junto con la declaración el Formulario 8862(SP) (o el Formulario 8862, en inglés). College students filing taxes Para detalles adicionales, vea las Instrucciones para el Formulario 1040A. College students filing taxes Datos a Incluir en el Formulario 1040 Lea las líneas 1 a 43 y llene las líneas que le correspondan. College students filing taxes No llene la línea 44. College students filing taxes Si presenta una declaración conjunta, utilice el espacio bajo las palabras “ Adjusted Gross Income ” (Ingresos brutos ajustados), en la primera página de la declaración para indicar por separado los ingresos tributables suyos y los de su cónyuge. College students filing taxes Lea las líneas 45 a la 71. College students filing taxes Llene las líneas que le correspondan, pero no llene las líneas 54, 61 ni 72. College students filing taxes Además, no complete la línea 55 ni las líneas 73 a 77. College students filing taxes No llene el recuadro “ c ” de la línea 53 si completa el Anexo R del Formulario 1040A o 1040, ni la línea 64a si desea que el IRS le calcule los créditos indicados en dichas líneas. College students filing taxes Pagos. College students filing taxes   Anote todo impuesto federal retenido sobre los ingresos que se indique en el recuadro 2 del Formulario W-2 o en el recuadro 4 del Formulario 1099, en la línea 62. College students filing taxes Anote en la línea 63 todo pago de impuesto estimado que haya efectuado. College students filing taxes Crédito por gastos del cuidado de menores y dependientes. College students filing taxes   Si puede reclamar este crédito, según se explica en el capítulo 32 , complete el Formulario 2441, en inglés, y adjúntelo a su declaración en papel. College students filing taxes Anote la cantidad del crédito en la línea 48. College students filing taxes El IRS no le calculará este crédito. College students filing taxes Crédito para ancianos o personas incapacitadas. College students filing taxes   Si puede reclamar este crédito, según se explica en el capítulo 33 , el IRS puede calcularle este crédito. College students filing taxes Escriba “CFE” al lado de la línea 53 y marque el recuadro “ c ” y adjunte el Anexo R del Formulario 1040A o 1040 a su declaración en papel. College students filing taxes En el Anexo R del Formulario 1040A o 1040, marque el recuadro de la Parte I correspondiente a su estado civil para efectos de la declaración y edad. College students filing taxes Complete la Parte II y las líneas 11 y 13 de la Parte III, si le corresponden. College students filing taxes Crédito por ingreso del trabajo. College students filing taxes   Si puede reclamar este crédito, según se explica en el capítulo 36 , el IRS se lo calculará. College students filing taxes Anote “EIC” en la línea de puntos al lado de la línea 64a del Formulario 1040. College students filing taxes Anote en la línea 64b la paga no tributable por combate que desee incluir en los ingresos derivados del trabajo. College students filing taxes   Si tiene un hijo que le dé derecho a este crédito, tiene que llenar el Anexo EIC, Earned Income Credit (Crédito por ingreso del trabajo), en inglés, y adjuntarlo a su declaración en papel. College students filing taxes Si no provee el número de Seguro Social de su hijo en la línea 2 del Anexo EIC (Formulario 1040 ó 1040A), el crédito será reducido o denegado a menos que su hijo haya nacido y fallecido en el año 2013. College students filing taxes   Si su crédito de cualquier año posterior a 1996 fue reducido o denegado por el IRS, tal vez tenga que presentar junto con la declaración el Formulario 8862(SP), (o el Formulario 8862, en inglés). College students filing taxes Para detalles adicionales, vea las Instrucciones para el Formulario 1040, en inglés. College students filing taxes Prev  Up  Next   Home   More Online Publications