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E File 2010 Tax Return

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E File 2010 Tax Return

E file 2010 tax return 14. E file 2010 tax return   Venta de Bienes Table of Contents Recordatorio Introduction Useful Items - You may want to see: Ventas y CanjesQué es una Venta o Canje Cómo Calcular Pérdidas o Ganancias Canjes no Sujetos a Impuestos Traspasos entre Cónyuges Transacciones entre Partes Vinculadas Pérdidas y Ganancias de CapitalPérdidas o Ganancias Ordinarias o de Capital Bienes de Capital y Bienes que no Son de Capital Período de Tenencia Deudas Incobrables no Empresariales Ventas Ficticias Reinversiones de Ganancia de Valores Cotizados en Bolsa Recordatorio Ingresos del extranjero. E file 2010 tax return  Si es ciudadano de los EE. E file 2010 tax return UU. E file 2010 tax return y vende propiedad ubicada fuera de los Estados Unidos, tiene que declarar todas las ganancias y pérdidas provenientes de la venta de dicha propiedad en su declaración de impuestos, a menos que esté exenta conforme a las leyes de los Estados Unidos. E file 2010 tax return Este es el caso independientemente de si vive en o fuera de los Estados Unidos e independientemente de si recibe o no un Formulario 1099 del pagador. E file 2010 tax return Introduction Este capítulo trata sobre las consecuencias tributarias de vender o canjear bienes de inversión. E file 2010 tax return Entre los temas que se explican, se encuentran: Qué es una venta o canje. E file 2010 tax return Cómo calcular una ganancia o pérdida. E file 2010 tax return Canjes no sujetos a impuestos. E file 2010 tax return Transacciones entre partes vinculadas. E file 2010 tax return Pérdidas o ganancias de capital. E file 2010 tax return Bienes de capital y bienes que no son de capital. E file 2010 tax return Período de tenencia. E file 2010 tax return Reinversión de la ganancia proveniente de la venta de valores cotizados en bolsa. E file 2010 tax return Otras transacciones de bienes. E file 2010 tax return   Algunos traspasos de bienes no se tratan aquí. E file 2010 tax return Éstos se explican en otras publicaciones del IRS. E file 2010 tax return Dichas transacciones incluyen: La venta de una vivienda principal, que se explica en el capítulo 15. E file 2010 tax return Las ventas a plazos, las cuales se explican en la Publicación 537, Installment Sales (Ventas a plazo), en inglés. E file 2010 tax return Las transacciones que incluyen propiedades comerciales, las cuales se explican en la Publicación 544, Sales and Other Dispositions of Assets (Ventas y otras enajenaciones de bienes), en inglés. E file 2010 tax return Las enajenaciones de una participación en una actividad pasiva, las cuales se explican en la Publicación 925, Passive Activity and At-Risk Rules (Actividad pasiva y las reglas sobre el monto de riesgo), en inglés. E file 2010 tax return    La Publicación 550, Investment Income and Expenses (Including Capital Gains and Losses) (Ingresos y gastos de inversión (incluidas ganancias y pérdidas de capital)), en inglés, provee información más detallada acerca de las ventas y canjes de bienes de inversión. E file 2010 tax return La Publicación 550 incluye información acerca de las reglas sobre deudas incobrables no empresariales, combinación de contratos de opción de compra y venta, contratos conforme a la sección 1256, contratos de opción de compra y venta, futuros de productos básicos, ventas en descubierto y ventas ficticias. E file 2010 tax return También trata sobre los gastos relacionados con las inversiones. E file 2010 tax return Useful Items - You may want to see: Publicación 550 Investment Income and Expenses (Ingresos y gastos de inversiones), en inglés Formulario (e Instrucciones) Anexo D (Formulario 1040) Capital Gains and Losses (Ganancias y pérdidas de capital), en inglés 8949 Sales and Other Dispositions of Capital Assets (Ventas y otras enajenaciones de activos de capital), en inglés 8824 Like-Kind Exchanges (Intercambios de bienes del mismo tipo), en inglés Ventas y Canjes Si durante el año vendió bienes como acciones, bonos o ciertos productos básicos a través de un agente corredor bursátil, por cada venta, éste debería entregarle el Formulario 1099-B, Proceeds From Broker and Barter Exchange Transactions (Ganancias de transacciones de agentes de bolsa y trueque), en inglés, o un documento sustitutivo. E file 2010 tax return Por lo general, debería recibir el documento a más tardar el 15 de febrero del año siguiente. E file 2010 tax return Este documento mostrará las ganancias brutas de la venta. E file 2010 tax return Si usted vendió un valor bursátil amparado en el año 2013, la base de éste se indicará en su Formulario 1099-B (o documento sustitutivo). E file 2010 tax return Por lo general, un valor bursátil amparado es un valor bursátil que usted adquirió después de 2010 con ciertas excepciones. E file 2010 tax return Vea las Instrucciones para el Formulario 8949, en inglés. E file 2010 tax return El corredor le entregará al IRS una copia del Formulario 1099-B. E file 2010 tax return Use el Formulario 1099-B (o documento sustitutivo que le haya entregado el agente) para completar el Formulario 8949. E file 2010 tax return Qué es una Venta o Canje En esta sección se explica qué es una venta o canje. E file 2010 tax return También se explican ciertas transacciones y ciertos acontecimientos que se tratan como ventas o canjes. E file 2010 tax return Normalmente, una “venta” es el traspaso de bienes por dinero o hipoteca, pagaré u otra promesa de pago. E file 2010 tax return Un “canje” es el traspaso de bienes por otros bienes o servicios y se pueden imponer impuestos del mismo modo que una venta. E file 2010 tax return Compra y venta. E file 2010 tax return   Normalmente, una transacción no es un canje cuando vende voluntariamente bienes a cambio de efectivo e inmediatamente compra bienes similares para reponerlos. E file 2010 tax return La venta y compra son dos transacciones separadas. E file 2010 tax return No obstante, consulte Intercambios de bienes del mismo tipo bajo Canjes no Sujetos a Impuestos, más adelante. E file 2010 tax return Redención de acciones. E file 2010 tax return   Una redención de acciones se considera una venta o canje y está sujeta a las disposiciones de pérdidas o ganancias de capital a menos que la misma sea un dividendo u otra distribución de acciones. E file 2010 tax return Dividendo versus venta o canje. E file 2010 tax return   Una redención se trata como venta, canje, dividendo u otra distribución dependiendo de las circunstancias de cada caso. E file 2010 tax return Se tendrá en cuenta tanto la titularidad directa como la titularidad indirecta de la cartera de acciones. E file 2010 tax return La redención se considera una venta o canje de acciones si: La redención no es esencialmente equivalente a un dividendo (consulte el capítulo 8); Existe una redención de acciones muy desproporcionada; Existe una redención total de todas las acciones de la sociedad anónima que posee el accionista o Esta redención es una distribución en la liquidación parcial de una sociedad anónima. E file 2010 tax return Redención o cancelación de bonos. E file 2010 tax return   Normalmente, una redención o cancelación de bonos o pagarés al vencimiento se considera venta o canje. E file 2010 tax return   Además, una modificación significativa de un bono se trata como un canje del bono original por uno nuevo. E file 2010 tax return Para más información, vea la sección 1. E file 2010 tax return 1001-3 del Reglamento. E file 2010 tax return Rescate de acciones. E file 2010 tax return   El rescate de acciones efectuado por un accionista predominante que retiene la titularidad de más de la mitad de las acciones con derecho de voto pertenecientes a la sociedad anónima se considera una aportación al capital y no una pérdida inmediata deducible del ingreso sujeto a impuestos. E file 2010 tax return El accionista rescatante tiene que reasignar su base de las acciones rescatadas a las acciones que retuvo. E file 2010 tax return Valores bursátiles sin valor. E file 2010 tax return    Todas las acciones, los derechos de suscripción y bonos (que no sean aquéllos para la venta por un agente de valores) que perdieron por completo su valor durante el año tributario se considerarán vendidos el último día del año tributario. E file 2010 tax return Esto es aplicable si su pérdida de capital es de largo o corto plazo. E file 2010 tax return Consulte Período de Tenencia , más adelante. E file 2010 tax return   Los valores bursátiles sin valor incluyen también aquéllos abandonados después del 12 de marzo de 2008. E file 2010 tax return Para abandonar valores, tiene que renunciar permanentemente a todo derecho a los mismos sin recibir compensación alguna a cambio de éstos. E file 2010 tax return Todos los hechos y circunstancias determinan si la transacción se caracteriza correctamente como abandono u otro tipo de transacción, como una venta o intercambio, aportación al capital, dividendo o regalo. E file 2010 tax return    Si es contribuyente que usa el método de efectivo y realiza los pagos con un pagaré negociable que emitió para acciones que luego perdieron su valor, puede deducir estos pagos como pérdidas en los años en que realmente hizo los pagos. E file 2010 tax return No los deduzca en el año en que las acciones perdieron su valor. E file 2010 tax return Cómo declarar pérdidas. E file 2010 tax return    Declare los valores bursátiles sin valor en la Parte I o en la Parte II del Formulario 8949, según corresponda. E file 2010 tax return En la columna (a), anote “Worthless” (Sin valor). E file 2010 tax return Declare las transacciones de valores bursátiles sin valor en el Formulario 8949. E file 2010 tax return Marque el recuadro apropiado que corresponda a la clase de transacción. E file 2010 tax return Vea el Formulario 8949 y las Instrucciones para el Formulario 8949, en inglés. E file 2010 tax return Si desea obtener más información sobre el Formulario 8949 y el Anexo D (Formulario 1040), Capital Gains and Losses (Ganancias y pérdidas de capital), vea Cómo Declarar Ganancias y Pérdidas de Capital en el capítulo 16. E file 2010 tax return Además, vea el Anexo D (Formulario 1040), el Formulario 8949 y sus instrucciones por separado, en inglés. E file 2010 tax return Cómo reclamar un reembolso. E file 2010 tax return   Si no reclama una pérdida de valores bursátiles sin valor en la declaración original del año en que perdieron su valor, puede reclamar un crédito o reembolso por pérdidas. E file 2010 tax return Tiene que usar el Formulario 1040X, Amended U. E file 2010 tax return S. E file 2010 tax return Individual Income Tax Return (Declaración enmendada del impuesto federal estadounidense sobre los ingresos personales), en inglés, para enmendar la declaración del año en que sus valores perdieron valor. E file 2010 tax return Tiene que presentar la declaración dentro de los 7 años a partir de la fecha en la que tenía que presentar su declaración original para ese año, o bien dentro de un plazo de 2 años a partir de la fecha en que pagó el impuesto, lo que suceda más tarde. E file 2010 tax return Para obtener más información acerca de cómo presentar una reclamación, consulte Declaraciones Enmendadas y Reclamaciones de Reembolso en el capítulo 1. E file 2010 tax return Cómo Calcular Pérdidas o Ganancias Calcule las pérdidas o ganancias en una venta o canje de bienes comparando la cantidad recibida con la base ajustada de los bienes. E file 2010 tax return Ganancia. E file 2010 tax return   Si la cantidad que recibe de una venta o canje es mayor que la base ajustada de los bienes que traspasa, la diferencia es una ganancia. E file 2010 tax return Pérdida. E file 2010 tax return   Si la base ajustada de los bienes que traspasa es mayor que la cantidad que recibe, la diferencia es una pérdida. E file 2010 tax return Base ajustada. E file 2010 tax return   La base ajustada de los bienes es su costo original u otra base original ajustada correctamente (aumentada o disminuida) para ciertos conceptos. E file 2010 tax return Consulte el capítulo 13 para obtener más información acerca de cómo determinar la base ajustada de bienes. E file 2010 tax return Cantidad recibida. E file 2010 tax return   La cantidad que recibe de la venta o canje de bienes es todo lo que recibe por dichos bienes menos los gastos relacionados con la venta (cargos por redención, comisiones de ventas, gastos de ventas o exit fees (gastos por rescate anticipado de una inversión colocada en un fondo)). E file 2010 tax return La cantidad recibida incluye el dinero que recibe, más el valor justo de mercado de los bienes o servicios que recibe. E file 2010 tax return Si recibe un pagaré u otro instrumento de deuda por dichos bienes, para calcular la cantidad recibida, consulte How To Figure Gain or Loss (Cómo calcular las pérdidas o ganancias) en el capítulo 4 de la Publicación 550, en inglés. E file 2010 tax return Si financia la compra que hace el comprador de sus bienes (los de usted) y el instrumento de deuda no abarca los suficientes intereses establecidos, los intereses no establecidos que tiene que declarar como ingreso ordinario disminuirán la cantidad recibida de la venta. E file 2010 tax return Consulte la Publicación 537, en inglés, para obtener más información. E file 2010 tax return Valor justo de mercado. E file 2010 tax return   El valor justo de mercado es el precio que tienen los bienes al cambiar de dueño entre un comprador y un vendedor, sin que ninguno sea forzado a comprar o vender y teniendo ambos conocimiento razonable de todo hecho pertinente. E file 2010 tax return Ejemplo. E file 2010 tax return Usted canjea acciones de la Compañía A con una base ajustada de $7,000 por acciones de la Compañía B con un valor justo de mercado de $10,000, que es la cantidad que recibe. E file 2010 tax return Su ganancia es $3,000 ($10,000 − $7,000). E file 2010 tax return Deuda pagada por completo. E file 2010 tax return    Una deuda sobre los bienes, o en contra de usted, que se haya pagado por completo como parte de la transacción o que el comprador asuma, se tiene que incluir en la cantidad recibida. E file 2010 tax return Esto es aplicable aun si ni usted ni el comprador son personalmente responsables de la deuda. E file 2010 tax return Por ejemplo, si vende o canjea bienes que estén sujetos a un préstamo sin recurso, la cantidad que reciba generalmente incluye la cantidad total del pagaré asumido por el comprador, aun si la cantidad del pagaré es mayor que el valor justo de mercado de los bienes. E file 2010 tax return Ejemplo. E file 2010 tax return Usted vende acciones que ha dado en garantía para un préstamo bancario de $8,000. E file 2010 tax return Su base en las acciones es $6,000. E file 2010 tax return El comprador paga la totalidad de su préstamo bancario y le paga a usted $20,000 en efectivo. E file 2010 tax return La cantidad recibida es $28,000 ($20,000 + $8,000). E file 2010 tax return Su ganancia es $22,000 ($28,000 − $6,000). E file 2010 tax return Pago de efectivo. E file 2010 tax return   Si canjea bienes y efectivo por otros bienes, la cantidad que reciba es el valor justo de mercado de los bienes que reciba. E file 2010 tax return Determine sus pérdidas o ganancias restando el efectivo que pague más la base ajustada de los bienes que intercambie de la cantidad que reciba. E file 2010 tax return Si el resultado es un número positivo, es una ganancia. E file 2010 tax return Si el resultado es un número negativo, es una pérdida. E file 2010 tax return Sin pérdidas ni ganancias. E file 2010 tax return   Tal vez tenga que usar una base para calcular las ganancias distinta a la base para calcular las pérdidas. E file 2010 tax return En este caso, puede que no tenga ni ganancias ni pérdidas. E file 2010 tax return Consulte Base Distinta al Costo en el capítulo 13. E file 2010 tax return Canjes no Sujetos a Impuestos Esta sección trata sobre los canjes que no suelen generar una ganancia sujeta a impuestos o pérdida deducible. E file 2010 tax return Para obtener más información acerca de los canjes no sujetos a impuestos, consulte el capítulo 1 de la Publicación 544, en inglés. E file 2010 tax return Intercambio de bienes del mismo tipo. E file 2010 tax return   Si canjea bienes comerciales o de inversión por otros bienes comerciales o de inversión de un mismo tipo, no paga impuestos sobre las ganancias ni deduce pérdidas hasta que venda o enajene el bien que reciba. E file 2010 tax return Para estar exento de impuestos, el canje tiene que satisfacer las seis condiciones siguientes: Los bienes tienen que ser comerciales o de inversión. E file 2010 tax return Tiene que ser dueño de los bienes que canjea y los que recibe para fines de uso productivo en su ocupación o negocio o para inversión. E file 2010 tax return Ninguno de los bienes se puede usar para propósitos personales, como por ejemplo su vivienda o automóvil familiar. E file 2010 tax return Los bienes no pueden ser principalmente para la venta. E file 2010 tax return Los bienes que canjee y los que reciba no pueden ser bienes que venda a clientes, como mercancías. E file 2010 tax return Los bienes no pueden ser acciones, bonos, pagarés, derechos de acción, certificados de fideicomiso o derecho de usufructo ni otros valores o evidencia de deudas o intereses, incluidas las participaciones en sociedades colectivas. E file 2010 tax return Sin embargo, vea Special rules for mutual ditch, reservoir, or irrigation company stock (Reglas especiales para acciones de compañías de zanjas de uso compartido, embalses o represas o de riego) en el capítulo 4 de la Publicación 550 para ver una excepción. E file 2010 tax return Además, puede tener un canje no sujeto a impuestos de acciones de sociedades anónimas conforme a una regla distinta, como se describe más adelante. E file 2010 tax return Tiene que canjear bienes del mismo tipo. E file 2010 tax return El canje de bienes raíces por bienes raíces, o de bienes muebles por bienes muebles similares, es un canje de bienes del mismo tipo. E file 2010 tax return El canje de un edificio de apartamentos habitacional por un edificio de tienda o de un furgón por una camioneta es un canje de bienes del mismo tipo. E file 2010 tax return El canje de maquinaria por un edificio de tienda no es un canje de bienes del mismo tipo. E file 2010 tax return Los bienes raíces ubicados dentro de los Estados Unidos y aquéllos ubicados fuera de los Estados Unidos no son bienes del mismo tipo. E file 2010 tax return Asimismo, los bienes muebles utilizados predominantemente dentro de los Estados Unidos y los bienes muebles utilizados predominantemente fuera de los Estados Unidos no son bienes del mismo tipo. E file 2010 tax return Los bienes que se reciben tienen que identificarse por escrito dentro de los 45 días después de la fecha en que haya traspasado los bienes entregados en el canje. E file 2010 tax return Los bienes que se reciben tienen que recibirse a más tardar para una de las fechas siguientes, la que suceda antes: El día número 180 después de la fecha en que usted traspasó los bienes entregados en el canje o La fecha de vencimiento, incluidas las prórrogas, de su declaración de impuestos del año en que se produzca el traspaso de los bienes entregados en el canje. E file 2010 tax return   Puede aplicar una regla especial si canjea bienes con una parte vinculada en un intercambio de bienes del mismo tipo. E file 2010 tax return Consulte Transacciones entre Partes Vinculadas , más adelante en este capítulo. E file 2010 tax return Además, consulte el capítulo 1 de la Publicación 544, en inglés, para obtener más información acerca de los intercambios de bienes comerciales y de reglas especiales para intercambios con intermediarios calificados o de varios bienes. E file 2010 tax return Intercambio parcialmente no sujeto a impuestos. E file 2010 tax return   Si recibe dinero o bienes que no son del mismo tipo además de bienes del mismo tipo, y se cumplen las seis condiciones anteriores, significa que tiene un canje parcialmente no sujeto a impuestos. E file 2010 tax return Se gravan impuestos sobre las ganancias que obtenga, pero sólo hasta la cantidad de dinero y el valor justo de mercado de los bienes que reciba que no sean del mismo tipo. E file 2010 tax return No puede deducir una pérdida. E file 2010 tax return Traspaso de bienes del mismo tipo y de bienes que no son del mismo tipo. E file 2010 tax return   Si entrega bienes que no son del mismo tipo además de bienes del mismo tipo, tiene que reconocer pérdidas o ganancias en aquéllos que entregue que no sean del mismo tipo. E file 2010 tax return Las pérdidas o ganancias son la diferencia entre la base ajustada de los bienes que no son del mismo tipo y su valor justo de mercado. E file 2010 tax return Bienes del mismo tipo y dinero traspasados. E file 2010 tax return   Si se satisfacen todas las condiciones (1) a (6) que aparecen enumeradas anteriormente, tiene un canje no sujeto a impuestos aun si paga dinero además de los bienes del mismo tipo. E file 2010 tax return Base de bienes recibidos. E file 2010 tax return   Para calcular la base de los bienes recibidos, consulte Intercambios no Tributables en el capítulo 13. E file 2010 tax return Cómo declarar el canje. E file 2010 tax return   Tiene que declarar el canje de bienes del mismo tipo en el Formulario 8824, Like-Kind Exchanges (Intercambio de bienes del mismo tipo) en inglés. E file 2010 tax return Si calcula pérdidas o ganancias reconocidas en el Formulario 8824, declárelas en el Anexo D (Formulario 1040) o en el Formulario 4797, Sales of Business Property (Ventas de bienes comerciales), en inglés, según corresponda. E file 2010 tax return Vea las instrucciones para la línea 22 en las Instrucciones para el Formulario 8824, disponibles en inglés. E file 2010 tax return   Para obtener más información acerca del uso del Formulario 4797, consulte el capítulo 4 de la Publicación 544, en inglés. E file 2010 tax return Acciones de sociedades anónimas. E file 2010 tax return   Los siguientes canjes de acciones de sociedades anónimas generalmente no resultan en una ganancia sujeta a impuestos o pérdida deducible. E file 2010 tax return Reorganizaciones de sociedades anónimas. E file 2010 tax return   En algunos casos, una compañía le entregará acciones ordinarias a cambio de acciones preferentes, acciones preferentes a cambio de acciones ordinarias, o bien acciones de una sociedad anónima a cambio de acciones de otra. E file 2010 tax return Si esto es resultado de una fusión, recapitalización, traspaso a una sociedad anónima controlada, bancarrota (quiebra), división de sociedades anónimas, adquisición de sociedades anónimas u otra reorganización de sociedades anónimas, usted no reconoce pérdidas ni ganancias. E file 2010 tax return Acciones por acciones de la misma sociedad anónima. E file 2010 tax return   Puede intercambiar acciones ordinarias por acciones ordinarias o acciones preferentes por acciones preferentes de la misma sociedad anónima sin tener pérdidas ni ganancias reconocidas. E file 2010 tax return Esto es aplicable en un canje entre dos accionistas y también en un canje entre un accionista y la sociedad anónima. E file 2010 tax return Acciones y bonos convertibles. E file 2010 tax return   Normalmente, no tendrá pérdidas ni ganancias reconocidas si convierte bonos en acciones o acciones preferentes en acciones ordinarias de la misma sociedad anónima, según un privilegio de conversión en los términos del bono o del certificado de las acciones preferentes. E file 2010 tax return Bienes por acciones de una sociedad anónima controlada. E file 2010 tax return   Si traspasa bienes a una sociedad anónima únicamente a cambio de acciones de esa sociedad anónima, e inmediatamente después del canje usted se queda con el control de la sociedad anónima, normalmente no reconocerá pérdidas ni ganancias. E file 2010 tax return Esta regla se aplica a personas físicas y a grupos que traspasan bienes a una sociedad anónima. E file 2010 tax return No es aplicable si la sociedad anónima es una sociedad inversionista. E file 2010 tax return   Para estos efectos y para estar en control de una sociedad anónima, usted o su grupo de cesionistas tiene que poseer, inmediatamente después del intercambio, por lo menos el 80% del poder total combinado de votos de todas las clases de acciones con derecho a voto y por lo menos el 80% de las acciones en circulación de cada clase de acción sin derecho a voto de la sociedad anónima. E file 2010 tax return   Si esta disposición es aplicable en su caso, puede tener que tenga que adjuntar a la declaración de impuestos una declaración completa de todo hecho pertinente al intercambio. E file 2010 tax return Para más detalles, vea la sección 1. E file 2010 tax return 351-3 del Reglamento. E file 2010 tax return Información adicional. E file 2010 tax return   Para obtener más información acerca de los canjes de acciones, consulte Nontaxable Trades (Canjes no sujetos a impuestos) en el capítulo 4 de la Publicación 550, en inglés. E file 2010 tax return Pólizas de seguros y anualidades. E file 2010 tax return   No tendrá ganancias ni pérdidas reconocidas si el asegurado o pensionista es el mismo en ambos contratos y usted intercambia: Un contrato de seguro de vida por otro contrato de seguro de vida o por un contrato dotal o de anualidad, o por un contrato de cuidados a largo plazo calificado; Un contrato dotal por otro contrato dotal que estipule pagos regulares, a partir de una fecha no posterior a la fecha de inicio conforme al contrato antiguo o por un contrato de anualidad o por un contrato de cuidados a largo plazo calificado; Un contrato de anualidad por otro contrato de anualidad o por un contrato de cuidados a largo plazo calificado o Un contrato de cuidados a largo plazo calificado por un contrato de cuidados a largo plazo calificado. E file 2010 tax return   Puede que tampoco tenga que reconocer pérdidas ni ganancias en un intercambio de parte de un contrato de anualidad por otro contrato de anualidad. E file 2010 tax return Para información sobre traspasos completados antes del 24 de octubre de 2011, consulte la Revenue Ruling 2003-76 (Resolución Administrativa Tributaria 2003-76 en el Internal Revenue Bulletin 2003-33 (Boletín de Impuestos Internos 2003-33), en inglés, y la Revenue Procedure 2008-24 (Procedimiento Tributario 2008-24) en el Internal Revenue Bulletin 2008-13 (Boletín de Impuestos Internos 2008-13). E file 2010 tax return La Resolución Administrativa Tributaria 2003-76 está disponible en www. E file 2010 tax return irs. E file 2010 tax return gov/irb/2003-33_IRB/ar11. E file 2010 tax return html. E file 2010 tax return El Procedimiento Tributario 2008-24 está disponible en www. E file 2010 tax return irs. E file 2010 tax return gov/irb/2008-3_IRB/ar13. E file 2010 tax return html. E file 2010 tax return Para información sobre traspasos completados el 24 de octubre de 2011 o después, consulte la Resolución Administrativa Tributaria 2003-76, indicada anteriormente, y el Revenue Procedure 2011-38 (Procedimiento Tributario 2011-38) en el Internal Revenue Bulletin 2011-30 (Boletín de Impuestos Internos 2011-30), en inglés. E file 2010 tax return El Procedimiento Tributario 2011-38 está disponible en www. E file 2010 tax return irs. E file 2010 tax return gov/irb/2011-30_IRB/ar09. E file 2010 tax return html. E file 2010 tax return   Para años tributarios que empiezan después del 31 de diciembre de 2010, las cantidades recibidas como una anualidad por un período de 10 años o más o por la vida de una o más personas físicas, conforme a cualquier parte de un contrato de anualidad, contrato dotal o de seguro de vida, son tratadas como un contrato por separado y se consideran anualidades parciales. E file 2010 tax return Puede empezar a recibir los pagos correspondientes a una parte de una anualidad, contrato dotal o contrato de seguro de vida (anualización), provisto que el período de su distribución sea por 10 años o más, o por la vida de una o más personas físicas. E file 2010 tax return La inversión en el contrato es asignada entre la parte del contrato cuyas cantidades se reciban como una anualidad y la parte del contrato cuyas cantidades no se reciban como una anualidad. E file 2010 tax return   Los intercambios de contratos no incluidos en esta lista, como por ejemplo un contrato de anualidad por un contrato de seguro dotal, o bien un contrato de seguro dotal o anualidad por un contrato de seguro de vida, están sujetos a impuestos. E file 2010 tax return Desmutualización de compañías de seguros de vida. E file 2010 tax return   Si recibió acciones a cambio de su participación en el patrimonio neto como titular de póliza o pensionista, normalmente no tendrá pérdidas ni ganancias reconocidas. E file 2010 tax return Consulte Demutualization of Life Insurance Companies (Desmutualización de compañías de seguros de vida) en la Publicación 550, en inglés. E file 2010 tax return Pagarés o bonos del Tesoro de los Estados Unidos. E file 2010 tax return   Puede canjear ciertas emisiones de obligación del Tesoro de los Estados Unidos por otras emisiones designadas por el Secretario del Tesoro, sin pérdidas ni ganancias reconocidas en el canje. E file 2010 tax return Vea información adicional sobre este tema en el tema titulado Savings bonds traded (Cambio de los bonos de ahorro), en el capítulo 1 de la Publicación 550, en inglés. E file 2010 tax return Traspasos entre Cónyuges En general, no se reconocen las pérdidas ni las ganancias en un traspaso de bienes de una persona física a (o en fideicomiso para el beneficio de) un cónyuge, o en caso de divorcio, a un ex cónyuge. E file 2010 tax return Esta regla de no reconocimiento no es aplicable en las siguientes situaciones: El cónyuge o ex cónyuge beneficiario es extranjero no residente. E file 2010 tax return Se traspasan bienes en fideicomiso y la obligación excede de la base. E file 2010 tax return Las ganancias tienen que ser reconocidas en la medida en que la cantidad de las obligaciones asumidas por el fideicomiso, más las demás obligaciones sobre los bienes, sean mayores que la base ajustada de los mismos. E file 2010 tax return Para otras situaciones, vea el tema titulado Transfers Between Spouses (Traspasos entre cónyuges), en el capítulo 4 de la Publicación 550, en inglés. E file 2010 tax return El beneficiario trata todo traspaso de bienes a un cónyuge o ex cónyuge, sobre el cual no se reconocen pérdidas ni ganancias, como un regalo y no se considera venta ni intercambio. E file 2010 tax return La base del beneficiario en los bienes será la misma que la base ajustada del donante inmediatamente antes del traspaso. E file 2010 tax return Esta regla de traslado de la base se aplica independientemente de si la base ajustada de bienes traspasados es menor que, igual a, o mayor que el valor justo de mercado al momento del traspaso o menor que, igual a, o mayor que toda compensación pagada por el beneficiario. E file 2010 tax return Esta regla es aplicable en la determinación de ganancias y pérdidas. E file 2010 tax return Una ganancia reconocida sobre un traspaso de fideicomiso aumenta la base. E file 2010 tax return Un traspaso de bienes está relacionado con un divorcio si el traspaso sucede dentro de 1 año después de la fecha en la que termina el matrimonio o si se relaciona con la terminación del matrimonio. E file 2010 tax return Transacciones entre Partes Vinculadas Hay reglas especiales que son aplicables a la venta o canje de bienes entre partes vinculadas. E file 2010 tax return Ganancias sobre ventas o canje de bienes depreciables. E file 2010 tax return   Su ganancia de la venta o canje de bienes a una parte vinculada puede ser ingreso ordinario, y no ganancia de capital, si la parte que recibe los bienes puede depreciarlos. E file 2010 tax return Para obtener más información, consulte el capítulo 3 de la Publicación 544, en inglés. E file 2010 tax return Intercambio de bienes del mismo tipo. E file 2010 tax return   Normalmente, si canjea bienes comerciales o de inversión por otros bienes comerciales o de inversión del mismo tipo, no se reconocen pérdidas ni ganancias. E file 2010 tax return Consulte Intercambios de bienes del mismo tipo , anteriormente, bajo Canjes no Sujetos a Impuestos. E file 2010 tax return   Esta regla también es aplicable a los canjes de bienes entre partes vinculadas, lo que se define a continuación en Pérdidas sobre ventas o canjes de bienes . E file 2010 tax return Sin embargo, si usted o la parte vinculada enajena los bienes del mismo tipo dentro de los 2 años después del canje, ambos tienen que declarar pérdidas o ganancias no reconocidas en el canje original en la declaración presentada para el año en que se produzca la última enajenación. E file 2010 tax return Las excepciones a esta regla se hallan en el tema titulado Related Party Transactions (Transacciones entre partes vinculadas), en el capítulo 4 de la Publicación 550, en inglés. E file 2010 tax return Pérdidas sobre ventas o canjes de bienes. E file 2010 tax return   No puede deducir una pérdida sobre la venta o canje de bienes, salvo una distribución de la liquidación completa de una sociedad anónima, si la transacción se hace directa o indirectamente entre usted y las siguientes partes vinculadas: Miembros de su familia. E file 2010 tax return Incluye únicamente a sus hermanos y hermanas, medios hermanos y medias hermanas, cónyuge, antecesores (padres, abuelos, etc. E file 2010 tax return ) y descendientes directos (hijos, nietos, etcétera). E file 2010 tax return Una sociedad colectiva en la que tuvo directa o indirectamente más del 50% de la participación en el capital o en las utilidades. E file 2010 tax return Una sociedad anónima en la que tuvo directa o indirectamente más del 50% del valor de las acciones en circulación. E file 2010 tax return Consulte Propiedad implícita de acciones , más adelante. E file 2010 tax return Una organización caritativa o educativa exenta de impuestos que usted o un miembro de su familia controla directa o indirectamente, de cualquier forma o método, sin importar si este control es ejecutable legalmente. E file 2010 tax return   Además, no se puede deducir una pérdida sobre la venta o canje de bienes, si la transacción se hace directa o indirectamente entre las siguientes partes vinculadas: Un cesionista y un fiduciario, o el fiduciario y el beneficiario, de cualquier fideicomiso. E file 2010 tax return Fiduciarios de dos fideicomisos diferentes, o el fiduciario y el beneficiario de dos fideicomisos diferentes, si la misma persona es el cesionista de ambos fideicomisos. E file 2010 tax return Un fiduciario de fideicomiso y una sociedad anónima en la que más del 50% del valor de las acciones en circulación son de propiedad directa o indirecta del fideicomiso o para el mismo, o bien del cesionista del fideicomiso o para el mismo. E file 2010 tax return Una sociedad anónima y una sociedad colectiva si las mismas personas poseen más del 50% del valor de las acciones en circulación de la sociedad anónima y más del 50% de participación en el capital o participación en las utilidades de la sociedad colectiva. E file 2010 tax return Dos sociedades anónimas de tipo S si las mismas personas poseen más del 50% del valor de las acciones en circulación de cada sociedad anónima. E file 2010 tax return Dos sociedades anónimas, una de las cuales es una sociedad anónima de tipo S, si las mismas personas poseen más del 50% del valor de las acciones en circulación de cada sociedad anónima. E file 2010 tax return Un albacea y un beneficiario de un caudal hereditario (excepto en el caso de venta o canje para satisfacer una asignación testamentaria pecuniaria). E file 2010 tax return Dos sociedades anónimas que sean miembros del mismo grupo controlado. E file 2010 tax return (Sin embargo, en ciertas condiciones estas pérdidas no son denegadas, pero se tienen que diferir). E file 2010 tax return Dos sociedades colectivas si las mismas personas poseen, directa o indirectamente, más del 50% de la participación en el capital o de las utilidades en ambas sociedades colectivas. E file 2010 tax return Ventas o canjes de bienes múltiples. E file 2010 tax return   Si vende a una parte vinculada o canjea con ésta una cantidad de paquetes de acciones o bienes en una suma global, tiene que calcular las pérdidas o ganancias por separado para cada paquete de acciones o bienes. E file 2010 tax return Es posible que la ganancia por cada artículo pueda estar sujeta a impuestos. E file 2010 tax return Sin embargo, no puede deducir la pérdida de artículo alguno. E file 2010 tax return Tampoco puede reducir las ganancias provenientes de la venta de ninguno de estos artículos por las pérdidas provenientes de la venta de ninguno de los demás artículos. E file 2010 tax return Transacciones indirectas. E file 2010 tax return   No puede deducir las pérdidas de la venta de acciones a través de su agente si, conforme a un plan dispuesto previamente, una parte vinculada compra las mismas acciones que eran de usted. E file 2010 tax return Esto no es aplicable a un canje entre partes vinculadas a través de un intercambio que sea absolutamente fortuito y que no haya sido programado con antelación. E file 2010 tax return Propiedad implícita de acciones. E file 2010 tax return   Para determinar si una persona posee directa o indirectamente acciones vigentes de una sociedad anónima, se aplican las siguientes reglas: Regla 1. E file 2010 tax return   Las acciones de propiedad directa o indirecta de o para una sociedad anónima, sociedad colectiva, caudal hereditario o fideicomiso se consideran de propiedad proporcionalmente por o para sus accionistas, socios o beneficiarios. E file 2010 tax return Regla 2. E file 2010 tax return   Se considera que una persona es propietaria de las acciones poseídas directa o indirectamente por o para su familia. E file 2010 tax return La familia incluye únicamente a hermanos y hermanas, medios hermanos y medias hermanas, cónyuge, antecesores y descendientes directos. E file 2010 tax return Regla 3. E file 2010 tax return   Se considera que una persona física que sea propietaria de acciones de una sociedad anónima, siempre y cuando no sea mediante la aplicación de la Regla 2, es propietaria de las acciones de las cuales su socio es propietario directo o indirecto. E file 2010 tax return Regla 4. E file 2010 tax return   Al aplicar la Regla 1, 2 ó 3, las acciones de las cuales es dueña implícita una persona conforme a la Regla 1 se consideran realmente propiedad de esa persona. E file 2010 tax return Sin embargo, las acciones de propiedad implícita de una persona bajo la Regla 2 ó 3 no se consideran propiedad de esa persona si se usa nuevamente la Regla 2 ó 3 para hacer que otra persona sea el propietario implícito de dichas acciones. E file 2010 tax return Bienes recibidos de una parte vinculada. E file 2010 tax return    Si vende o canjea con ganancia bienes que adquirió de una parte vinculada, usted reconoce la ganancia solamente en la medida en que sea más que la pérdida previamente denegada a la parte vinculada. E file 2010 tax return Esta regla es aplicable solamente si es cesionario original y adquiere los bienes mediante compra o intercambio. E file 2010 tax return Esta regla no es aplicable si las pérdidas de la parte vinculada fueron denegadas debido a reglas de las ventas ficticias descritas en el capítulo 4 de la Publicación 550 bajo Wash Sales (Ventas ficticias), en inglés. E file 2010 tax return   Si vende o canjea con pérdida bienes que adquirió de una parte vinculada, no puede reconocer la pérdida que no fue permisible para la parte vinculada. E file 2010 tax return Ejemplo 1. E file 2010 tax return Su hermano le vende acciones por $7,600. E file 2010 tax return Su base de costo es $10,000. E file 2010 tax return Su hermano no puede deducir la pérdida de $2,400. E file 2010 tax return Después, usted vende las mismas acciones a una parte no vinculada por $10,500, obteniendo una ganancia de $2,900. E file 2010 tax return La ganancia a declarar es $500, es decir, la ganancia de $2,900 menos la pérdida de $2,400 no permitida a su hermano. E file 2010 tax return Ejemplo 2. E file 2010 tax return Si en el Ejemplo 1 usted vende las acciones por $6,900 en lugar de $10,500, su pérdida reconocida es solamente $700 (su base de $7,600 menos $6,900). E file 2010 tax return No puede deducir la pérdida no permitida a su hermano. E file 2010 tax return Pérdidas y Ganancias de Capital Esta sección explica el trato tributario de las ganancias y pérdidas de diferentes tipos de transacciones de inversiones. E file 2010 tax return Carácter de las pérdidas o ganancias. E file 2010 tax return   Debe clasificar sus ganancias y pérdidas como pérdidas o ganancias ordinarias o de capital. E file 2010 tax return Luego, debe clasificar sus ganancias y pérdidas de capital, ya sea a corto plazo o a largo plazo. E file 2010 tax return Si tiene ganancias y pérdidas a largo plazo, tiene que identificar las ganancias y pérdidas a una tasa de 28%. E file 2010 tax return Si tiene ganancias netas de capital, también tiene que identificar toda ganancia no recuperada conforme a la sección 1250. E file 2010 tax return   La clasificación e identificación correcta le ayuda a calcular el límite sobre las pérdidas de capital y el impuesto correcto sobre las ganancias de capital. E file 2010 tax return La declaración de las ganancias y pérdidas de capital se explica en el capítulo 16 . E file 2010 tax return Pérdidas o Ganancias Ordinarias o de Capital Si tiene una ganancia sujeta a impuestos o una pérdida deducible proveniente de una transacción, es posible que sea ganancia o pérdida ordinaria o de capital, dependiendo de las circunstancias. E file 2010 tax return Normalmente, la venta o canje de bienes de capital (definido a continuación) resulta en una pérdida o ganancia de capital. E file 2010 tax return La venta o canje de bienes que no son de capital generalmente resulta en una pérdida o ganancia ordinaria. E file 2010 tax return Según las circunstancias, una pérdida o ganancia sobre la venta o canje de bienes utilizados en su ocupación o negocio puede tratarse como ordinaria o de capital, como se explica en la Publicación 544, en inglés. E file 2010 tax return En algunas situaciones, parte de las pérdidas o ganancias puede ser pérdida o ganancia de capital y otra parte puede ser pérdida o ganancia ordinaria. E file 2010 tax return Bienes de Capital y Bienes que no Son de Capital La mayor parte de los bienes que usted posee y usa para fines personales, de placer o inversión constituye bienes de capital. E file 2010 tax return Ejemplos de éstos incluyen: Acciones o bonos que tenga en su cuenta personal; Una vivienda de la cual usted es dueño y que usan usted y su familia; Mobiliario doméstico; Un automóvil usado para recreación o para trasladarse de su hogar a su trabajo; Colecciones de monedas o estampillas; Gemas y joyas y Oro, plata o cualquier otro metal. E file 2010 tax return Todo bien que usted posea es bien de capital, a excepción de los siguientes bienes que no son de capital: Los bienes que posee principalmente para la venta a clientes o que físicamente formarán parte de la mercancía para la venta a clientes. E file 2010 tax return Para una excepción a esta regla, vea Obras Musicales de Creación Propia Tratadas como Bienes de Capital , más adelante. E file 2010 tax return Bienes depreciables usados en su ocupación o negocio, aun cuando estén completamente depreciados. E file 2010 tax return Bienes raíces que usa en su ocupación o negocio. E file 2010 tax return Derechos de autor, composiciones literarias, musicales o artísticas, cartas o memorandos, o bienes similares que sean: Creados con su propio esfuerzo, Preparados o producidos para usted (en el caso de una carta, memorándum o bienes similares) o Adquiridos bajo ciertas circunstancias (por ejemplo, como regalo), dándole a usted derecho a la base de la persona que creó la propiedad o para quien se preparó o se produjo. E file 2010 tax return Para una excepción a esta regla, vea Obras Musicales de Creación Propia Tratadas como Bienes de Capital , más adelante. E file 2010 tax return Cuentas o documentos por cobrar adquiridos en el curso normal de su ocupación o negocio por servicios prestados o provenientes de la venta de bienes que se describen en el punto (1). E file 2010 tax return Publicaciones del Gobierno de los Estados Unidos que recibió del gobierno en forma gratuita o por menos del precio de venta normal, o que compró en circunstancias que le dieron derecho a la base de alguien que recibió las publicaciones en forma gratuita o por menos del precio de venta normal. E file 2010 tax return Algunos instrumentos financieros derivados de productos básicos mantenidos por revendedores de derivados de productos básicos. E file 2010 tax return Transacciones de cobertura, pero sólo si la transacción está claramente identificada como transacción de este tipo antes del cierre del día en que se adquirió, se originó o en que usted la firmó. E file 2010 tax return Suministros del tipo que se usa o consume regularmente en el curso normal de su ocupación o negocio. E file 2010 tax return Bienes de Inversión Los bienes de inversión son bienes de capital. E file 2010 tax return Normalmente, una ganancia o pérdida proveniente de su venta o canje es una ganancia o pérdida de capital. E file 2010 tax return Oro, plata, estampillas, monedas, gemas, etcétera. E file 2010 tax return   Éstos son bienes de capital, excepto cuando están en posesión de un revendedor con fines de venta. E file 2010 tax return Normalmente, la pérdida o ganancia que asume de esta venta o canje es una pérdida o ganancia de capital. E file 2010 tax return Acciones, derechos de suscripción y bonos. E file 2010 tax return   Todo lo anterior (incluidas las acciones recibidas como dividendo) son bienes de capital, excepto cuando un revendedor de valores los tiene para la venta. E file 2010 tax return Sin embargo, si posee acciones de un pequeño negocio, consulte Pérdidas en Acciones conforme a la Sección 1244 (Pequeño Negocio) , más adelante, y Losses on Small Business Investment Company Stock (Pérdidas sobre acciones de sociedad inversionista especializada en pequeños negocios), en el capítulo 4 de la Publicación 550, en inglés. E file 2010 tax return Bienes de Uso Personal Los bienes mantenidos sólo para uso personal y no para inversión son bienes de capital y, por lo tanto, tiene que declarar una ganancia procedente de su venta como ganancia de capital. E file 2010 tax return Sin embargo, no puede deducir una pérdida por la venta de bienes de uso personal. E file 2010 tax return Obras Musicales de Creación Propia Tratadas como Bienes de Capital Puede optar por tratar las obras musicales y los derechos de autor asociados con obras musicales como bienes de capital al venderlos o intercambiarlos si: Creó dichos bienes por medio de sus propios esfuerzos o Adquirió los bienes bajo condiciones (como regalo, por ejemplo) que le dieron derecho a la base de la persona que creó dichos bienes o de la persona para quien fueron preparados o producidos. E file 2010 tax return Tiene que elegir una opción distinta para cada obra musical (o derecho de autor asociado con una obra musical) vendida o intercambiada durante el año tributario. E file 2010 tax return Tiene que elegir la opción en, o antes de, la fecha de vencimiento del plazo de entrega (incluyendo prórrogas) de la declaración de impuestos del año de la venta o intercambio. E file 2010 tax return Tiene que anotar la opción en el Formulario 8949, considerando la venta o intercambio como venta o intercambio de bienes de capital, conforme al Formulario 8949, el Anexo D (Formulario 1040) y sus instrucciones por separado, en inglés. E file 2010 tax return Si desea obtener más información sobre el Formulario 8949 y el Anexo D (Formulario 1040), vea Cómo Declarar Ganancias y Pérdidas de Capital en el capítulo 16. E file 2010 tax return Además, vea el Anexo D (Formulario 1040), el Formulario 8949 y sus instrucciones por separado, en inglés. E file 2010 tax return Puede revocar esta opción si el IRS se lo aprueba. E file 2010 tax return Para obtener la aprobación del IRS, tiene que enviar una solicitud al IRS para que éste le provea una carta de decisión sobre este asunto tributario conforme al Revenue Procedure (Procedimiento tributario) correspondiente a su situación. E file 2010 tax return Vea, por ejemplo, el Procedimiento Tributario 2013-1, rectificado por el Anuncio 2013-9, que fue ampliado y modificado a su vez por el Procedimiento Tributario 2013-32, en el Internal Revenue Bulletin (Boletín de Impuestos Internos), en inglés, en www. E file 2010 tax return irs. E file 2010 tax return gov/irb/2013-01_IRB/ar06. E file 2010 tax return html. E file 2010 tax return Como alternativa, se le otorga una prórroga automática de 6 meses a partir de la fecha de vencimiento del plazo de entrega de su declaración de impuestos sobre el ingreso (excluyendo prórrogas) para revocar la opción, con la condición de que presente a tiempo la declaración de impuestos sobre el ingreso y, durante este plazo de prórroga de 6 meses, presente el Formulario 1040X en el que la venta o intercambio se considere como venta o intercambio de bienes no de capital. E file 2010 tax return Instrumentos de Deuda Descontados Trate como ganancia o pérdida de capital su pérdida o ganancia de la venta, rescate o retiro de un bono u otro instrumento de deuda originalmente emitido con descuento o comprado con descuento, excepto según se explica a continuación. E file 2010 tax return Deudas gubernamentales a corto plazo. E file 2010 tax return   Trate las ganancias sobre las deudas de un gobierno federal, estatal o local a corto plazo (que no sean deudas exentas de impuestos) como ingresos ordinarios hasta su parte proporcional del descuento de adquisición. E file 2010 tax return Este trato se aplica a deudas que tienen una fecha de vencimiento fija de no más de 1 año a partir de la fecha de emisión. E file 2010 tax return El descuento de adquisiciones es el precio de rescate establecido al vencimiento menos la base de la deuda. E file 2010 tax return   Sin embargo, no trate estas ganancias como ingreso en la medida en que haya incluido previamente el descuento en los ingresos. E file 2010 tax return Consulte Discount on Short-Term Obligations (Descuento sobre deudas a corto plazo) en el capítulo 1 de la Publicación 550, en inglés. E file 2010 tax return Deudas no gubernamentales a corto plazo. E file 2010 tax return   Trate las ganancias sobre las deudas no gubernamentales a corto plazo como ingresos ordinarios hasta su parte proporcional del descuento de la emisión original (OID, por sus siglas en inglés). E file 2010 tax return Este trato se aplica a deudas que tienen una fecha de vencimiento fija de no más de 1 año a partir de la fecha de emisión. E file 2010 tax return   Sin embargo, no tiene que volver a incluir en los ingresos la parte del descuento que haya incluido previamente en los mismos. E file 2010 tax return Consulte Discount on Short-Term Obligations (Descuento sobre deudas a corto plazo) en el capítulo 1 de la Publicación 550, en inglés. E file 2010 tax return Bonos de gobiernos estatales y locales exentos de impuestos. E file 2010 tax return   Si estos bonos se emitieron originalmente con un descuento antes del 4 de septiembre de 1982, o bien si los adquirió antes del 2 de marzo de 1984, trate su parte del OID como intereses exentos de impuestos. E file 2010 tax return Para calcular las pérdidas o ganancias por la venta o canje de estos bonos, reste su parte del OID de la cantidad obtenida. E file 2010 tax return   Si los bonos fueron emitidos después del 3 de septiembre de 1982 y adquiridos después del 1 de marzo de 1984, sume a la base ajustada su parte del OID para calcular la pérdida o ganancia. E file 2010 tax return Para obtener más información acerca de la base de estos bonos, consulte Discounted Debt Instruments (Instrumentos de deuda descontados) en el capítulo 4 de la Publicación 550, en inglés. E file 2010 tax return   Normalmente, las ganancias del descuento comercial están sujetas a impuestos sobre la enajenación o rescate de los bonos exentos de impuestos. E file 2010 tax return Si compró los bonos antes del 1 de mayo de 1993, la ganancia del descuento comercial es una ganancia de capital. E file 2010 tax return Si compró los bonos después del 30 de abril de 1993, la ganancia constituye ingresos ordinarios. E file 2010 tax return   Usted calcula el descuento comercial restando el precio que pagó por el bono de la suma del precio original de emisión del bono y la cantidad del OID acumulado desde la fecha de emisión que representó intereses para los accionistas anteriores. E file 2010 tax return Para obtener más información, consulte Market Discount Bonds (Bonos con descuento en el mercado) en el capítulo 1 de la Publicación 550, en inglés. E file 2010 tax return    Una pérdida sobre la venta u otra enajenación de bonos de gobiernos estatales o locales exentos de impuestos es deducible como pérdida de capital. E file 2010 tax return Rescate antes del vencimiento. E file 2010 tax return   Si un bono local o estatal emitido antes del 9 de junio de 1980 se rescata antes de su vencimiento, entonces el OID no le está sujeto a impuestos a usted. E file 2010 tax return   Si un bono local o estatal emitido después del 8 de junio de 1980 se rescata antes de su vencimiento, entonces la parte del OID que generó ingresos mientras tuvo el bono no le está sujeto a impuestos a usted. E file 2010 tax return Sin embargo, tiene que declarar la parte no devengada del OID como ganancia de capital. E file 2010 tax return Ejemplo. E file 2010 tax return El 2 de julio de 2002, fecha de emisión, usted compró un bono municipal de 6% a 20 años por $800. E file 2010 tax return La cantidad nominal del bono fue $1,000. E file 2010 tax return El descuento de $200 se atribuyó al OID. E file 2010 tax return En el momento en que se emitió el bono, el emisor no tenía intención de rescatarlo antes de su vencimiento. E file 2010 tax return El bono fue rescatable en su cantidad nominal después de 10 años de la fecha de emisión. E file 2010 tax return El emisor rescató el bono al término de 11 años (2 de julio de 2013) por la cantidad nominal de $1,000, más los intereses anuales devengados de $60. E file 2010 tax return El OID de $73, obtenido durante el tiempo que tuvo el bono, no está sujeto a impuestos. E file 2010 tax return Los intereses anuales devengados de $60 tampoco están sujetos a impuestos. E file 2010 tax return Sin embargo, tiene que declarar la parte no devengada del OID ($127) como ganancia de capital. E file 2010 tax return Instrumentos de deuda a largo plazo emitidos después de 1954 y antes del 28 de mayo de 1969 (o antes del 2 de julio de 1982 si son instrumentos de gobierno). E file 2010 tax return   Si vende, canjea o rescata para obtener ganancia uno de estos instrumentos de deuda, el ingreso ordinario será la parte de la ganancia que no sea superior a la parte proporcional del OID al momento de la venta o rescate. E file 2010 tax return El resto de la ganancia es ganancia de capital. E file 2010 tax return Sin embargo, si hubo intención de rescatar el instrumento de deuda antes de su vencimiento, toda la ganancia que no supere el total del OID se tratará como ingreso ordinario al momento de la venta. E file 2010 tax return Este trato de ganancia sujeta a impuestos también es aplicable a los instrumentos de sociedades anónimas emitidos después del 27 de mayo de 1969, conforme a un acuerdo escrito vinculante a partir del 27 de mayo de 1969, y en todo momento después de esta fecha. E file 2010 tax return Instrumentos de deuda a largo plazo emitidos después del 27 de mayo de 1969 (o después del 1 de julio de 1982 si son instrumentos de gobierno). E file 2010 tax return   Si es dueño de uno de estos instrumentos de deuda, tiene que incluir una parte del OID en su ingreso bruto cada año que posee el instrumento. E file 2010 tax return Su base de dicho instrumento de deuda aumenta con la cantidad del OID que incluyó en sus ingresos brutos. E file 2010 tax return Consulte Descuento de la Emisión Original (OID) en el capítulo 7 para obtener información acerca del OID que tiene que declarar en su declaración de impuestos. E file 2010 tax return   Si vende o canjea el instrumento de deuda antes de su vencimiento, la ganancia que obtiene es ganancia de capital. E file 2010 tax return Sin embargo, si al momento de la emisión original del instrumento hubo una intención de rescatarlo antes de su vencimiento, normalmente la ganancia es ganancia ordinaria hasta el límite del total del OID menos las cantidades del OID que previamente se incluyeron en sus ingresos. E file 2010 tax return En este caso, el resto de la ganancia es ganancia de capital. E file 2010 tax return Bonos con descuento en el mercado. E file 2010 tax return   Si el instrumento de deuda tiene descuento en el mercado y usted optó por incluir en el ingreso el descuento a medida que se acumulaba, aumente su base en el instrumento de deuda por el descuento acumulado para calcular la pérdida o ganancia de capital sobre la enajenación. E file 2010 tax return Si optó por no incluir en el ingreso el descuento a medida que se acumulaba, tiene que declarar la ganancia como ingreso ordinario de intereses hasta el monto del descuento comercial acumulado del instrumento. E file 2010 tax return El resto son ganancias de capital. E file 2010 tax return Consulte Market Discount Bonds (Bonos de descuento en el mercado) en el capítulo 1 de la Publicación 550, en inglés. E file 2010 tax return   Se aplica una regla diferente a los bonos con descuento en el mercado emitidos antes del 19 de julio de 1984 y comprados por usted antes del 1 de mayo de 1993. E file 2010 tax return Consulte Market discount bonds (Bonos de descuento en el mercado) bajo Discounted Debt Instruments (Instrumentos de deuda descontados) en el capítulo 4 de la Publicación 550, en inglés. E file 2010 tax return Redención de instrumento de deuda. E file 2010 tax return   Las cantidades recibidas por la redención de un instrumento de deuda se tratan del mismo modo que si hubiera vendido o canjeado dicho instrumento. E file 2010 tax return Pagarés de personas físicas. E file 2010 tax return   Si mantiene la deuda de una persona física que se emitió con OID después del 1 de marzo de 1984, generalmente tiene que incluir el OID en su ingreso actual, y las pérdidas o ganancias sobre la venta o redención de la deuda son, por lo general, pérdidas o ganancias de capital. E file 2010 tax return Se aplica una excepción a este caso si la deuda es un préstamo entre personas físicas y se satisfacen los requisitos siguientes: El prestamista no se dedica al negocio de prestar dinero. E file 2010 tax return La cantidad del préstamo, más la cantidad de los préstamos anteriores pendientes, es $10,000 o menos. E file 2010 tax return La evasión de impuestos federales no es uno de los principales objetivos del préstamo. E file 2010 tax return   Si corresponde la excepción, o si la deuda fue emitida antes del 2 de marzo de 1984, usted no incluye el OID en sus ingresos actuales. E file 2010 tax return Cuando venda o rescate la deuda, la parte de su ganancia que no sea superior a la parte devengada del OID en ese momento es ingreso ordinario. E file 2010 tax return El resto de la ganancia, si la hay, es ganancia de capital. E file 2010 tax return Las pérdidas sobre las ventas o rescates son pérdidas de capital. E file 2010 tax return Depósito en Instituciones Financieras Insolventes o en Quiebra Si pierde dinero que tenga depositado en un banco, cooperativa de crédito u otra institución financiera que ya no es solvente o está en bancarrota, tal vez pueda deducir su pérdida en una de las tres maneras siguientes: Pérdida ordinaria. E file 2010 tax return Pérdida fortuita. E file 2010 tax return Deuda incobrable no comercial (pérdida de capital a corto plazo). E file 2010 tax return  Para más información, vea Deposit in Insolvent or Bankrupt Financial Institution (Depósito en institución financiera insolvente o en quiebra) en el capítulo 4 de la Publicación 550, en inglés. E file 2010 tax return Venta de Anualidad Se considera ingreso ordinario la parte de una ganancia sobre la venta de un contrato de anualidad antes de su fecha de vencimiento y que se basa en los intereses acumulados en el contrato. E file 2010 tax return Pérdidas en Acciones Conforme a la Sección 1244 (Pequeño Negocio) Usted puede deducir su pérdida proveniente de la venta, canje o falta de valor de acciones conforme a la sección 1244 como una pérdida ordinaria en vez de una pérdida de capital. E file 2010 tax return Declare la pérdida en la línea 10 del Formulario 4797. E file 2010 tax return Toda ganancia sobre acciones conforme a la sección 1244 es ganancia de capital si las acciones son bienes de capital en su mano. E file 2010 tax return Declare la ganancia en el Formulario 8949. E file 2010 tax return Consulte Losses on Section 1244 (Small Business) Stock (Pérdidas de acciones (de pequeño negocio) conforme a la sección 1244), en el capítulo 4 de la Publicación 550, en inglés. E file 2010 tax return Si desea obtener más información sobre el Formulario 8949 y el Anexo D (Formulario 1040), vea Cómo Declarar Ganancias y Pérdidas de Capital en el capítulo 16. E file 2010 tax return Además, vea el Anexo D (Formulario 1040), el Formulario 8949 y sus instrucciones por separado, en inglés. E file 2010 tax return Período de Tenencia Si vendió o canjeó bienes de inversión, tiene que determinar el período de tenencia de los bienes. E file 2010 tax return Su período de tenencia determina si una pérdida o ganancia de capital fue a corto o largo plazo. E file 2010 tax return Corto o largo plazo. E file 2010 tax return   Si mantiene bienes de inversión por más de 1 año, las pérdidas o ganancias de capital son a largo plazo. E file 2010 tax return Si mantiene bienes por 1 año o menos, las pérdidas o ganancias de capital son a corto plazo. E file 2010 tax return   Para determinar el tiempo en que tuvo bienes de inversión, empiece a contar a partir del día siguiente a la fecha en que adquirió los bienes. E file 2010 tax return El día en que enajenó los bienes forma parte del período de tenencia. E file 2010 tax return Ejemplo. E file 2010 tax return Si compró bienes de inversión el 6 de febrero de 2012 y los vendió el 6 de febrero de 2013, el período de tenencia no es superior a un 1 año y, por lo tanto, tiene pérdida o ganancia de capital a corto plazo. E file 2010 tax return Si vendió los bienes el 7 de febrero de 2013, el período de tenencia es superior a un 1 año y, por lo tanto, tiene una pérdida o ganancia de capital a largo plazo. E file 2010 tax return Valores cotizados en un mercado establecido. E file 2010 tax return   En lo que respecta a valores cotizados en un mercado de valores establecido, el período de tenencia comienza el día siguiente a la fecha de transacción en que compró los valores y termina en la fecha de transacción en que los vendió. E file 2010 tax return    No confunda la fecha de transacción con la fecha de liquidación, para la cual es la fecha en que se tienen que entregar las acciones y se tiene que efectuar el pago. E file 2010 tax return Ejemplo. E file 2010 tax return Usted es contribuyente con base de método de efectivo y año natural para la presentación de su declaración. E file 2010 tax return El 30 de diciembre de 2013, vendió acciones con ganancias. E file 2010 tax return Según las reglas de la bolsa, la venta se cerró con la entrega de las acciones 4 días comerciales después de la venta, el 6 de enero de 2014. E file 2010 tax return Recibió el pago del valor de la venta el mismo día. E file 2010 tax return Declare la ganancia en la declaración del año 2013, aunque haya recibido el pago en el año 2014. E file 2010 tax return La ganancia es a largo o corto plazo dependiendo de si tuvo las acciones más de un año. E file 2010 tax return Su período de tenencia terminó el 30 de diciembre. E file 2010 tax return Si hubiera vendido las acciones con pérdidas, también habría declarado las pérdidas en su declaración del año 2013. E file 2010 tax return Pagarés y bonos del Tesoro de los Estados Unidos. E file 2010 tax return   El período de tenencia de pagarés y bonos de los EE. E file 2010 tax return UU. E file 2010 tax return vendidos en subasta en base a su rendimiento se inicia el día después de que el Secretario del Tesoro, mediante comunicados de prensa, dé notificación a los postores cuyas ofertas hayan sido aceptadas. E file 2010 tax return El período de tenencia de pagarés y bonos de los EE. E file 2010 tax return UU. E file 2010 tax return con rendimiento determinado vendidos en base a suscripciones se inicia el día después de que se presente la suscripción. E file 2010 tax return Servicio de inversión automático. E file 2010 tax return   Al determinar el período de tenencia de acciones compradas a través del banco u otro agente, se considera que las acciones enteras se compraron al inicio y las acciones fraccionarias se compraron al final. E file 2010 tax return El período de tenencia de usted comienza el día siguiente de la fecha de compra del banco. E file 2010 tax return Si una acción se compró en más de una fecha de compra, el período de tenencia de esa acción es un período de tenencia dividido. E file 2010 tax return Se considera que se compró una parte de esa acción en cada fecha en que el banco haya comprado la acción con pagos procedentes de fondos disponibles. E file 2010 tax return Canjes no sujetos a impuestos. E file 2010 tax return   Si adquiere bienes de inversión en un canje por otros bienes de inversión y la base de los nuevos bienes está determinada, en su totalidad o en parte, por la base de los antiguos bienes, el período de tenencia de los nuevos bienes comienza el día siguiente de la fecha en que adquirió los antiguos bienes. E file 2010 tax return Bienes recibidos como regalo. E file 2010 tax return   Si recibe un regalo de bienes y la base se determina por la base ajustada del donante, se considera que el período de tenencia ha empezado el mismo día en que empezó el período de tenencia del donante. E file 2010 tax return   Si la base está determinada por el valor justo de mercado de los bienes, el período de tenencia comienza el día siguiente de la fecha del regalo. E file 2010 tax return Bienes heredados. E file 2010 tax return   Por lo general, si usted heredó bienes de inversión, su ganancia o pérdida de capital en cualquier enajenación que realice luego con ese bien es una ganancia o pérdida de capital a largo plazo. E file 2010 tax return Esto es así independientemente de cuánto tiempo usted tuvo el bien como su propiedad. E file 2010 tax return Sin embargo, si usted heredó los bienes de alguien que falleció en el 2010, vea la información que aparece a continuación. E file 2010 tax return Bienes heredados de una persona que falleció en el año 2010. E file 2010 tax return   Si hereda bienes de inversión de un difunto que falleció en el año 2010, y el albacea del patrimonio del difunto optó por presentar el Formulario 8939, consulte la información provista por el albacea o vea la Publicación 4895, Tax Treatment of Property Acquired From a Decedent Dying in 2010 (Trato tributario de bienes adquiridos de un difunto que falleció en 2010), en inglés, para determinar su período de tenencia. E file 2010 tax return Bienes raíces comprados. E file 2010 tax return   Para calcular el tiempo que tuvo bienes raíces comprados conforme a un contrato incondicional, empiece a contar el día después de la fecha en que recibió el título de los bienes o la fecha después de la que tomó posesión de los bienes y asumió las obligaciones y privilegios de propietario, lo que sucediera primero. E file 2010 tax return Sin embargo, aceptar la entrega o tomar posesión de bienes raíces conforme a un contrato de opción no es suficiente para comenzar el período de tenencia. E file 2010 tax return El período de tenencia no puede comenzar hasta que haya un contrato de venta real. E file 2010 tax return El período de tenencia del vendedor no puede terminar antes de esa fecha. E file 2010 tax return Si recupera la posesión de bienes raíces. E file 2010 tax return   Si vende bienes raíces pero retiene un derecho prendario a los mismos, y más adelante recupera la posesión de dichos bienes raíces según los términos del contrato de venta, el período de tenencia correspondiente a una venta posterior abarca el período durante el cual fue dueño de los bienes raíces antes de la primera venta y el período después de que haya recuperado la posesión de los mismos. E file 2010 tax return El período de tenencia no incluye el período entre la primera venta y la recuperación de la posesión de los bienes raíces. E file 2010 tax return Es decir, no incluye el período durante el cual el primer comprador fue dueño de dichos bienes raíces. E file 2010 tax return Dividendos de acciones. E file 2010 tax return   El período de tenencia de las acciones que usted recibió como dividendo de acciones sujeto a impuestos comienza en la fecha de distribución. E file 2010 tax return   El período de tenencia de acciones nuevas que recibió como dividendo de acciones no sujeto a impuestos comienza el mismo día que el período de tenencia de las antiguas acciones. E file 2010 tax return Esta regla también se aplica a acciones adquiridas en una “escisión”, lo cual es una distribución de acciones o valores en una sociedad anónima controlada. E file 2010 tax return Derechos de suscripción no sujetos a impuestos. E file 2010 tax return   El período de tenencia de derechos de suscripción no sujetos a impuestos comienza el mismo día que el período de tenencia de las acciones precedentes. E file 2010 tax return El período de tenencia de acciones adquiridas a través del ejercicio de derechos de suscripción comienza en la fecha en que se ejerció el derecho. E file 2010 tax return Deudas Incobrables no Empresariales Si alguien le debe dinero que usted no puede cobrar, entonces tiene una deuda incobrable. E file 2010 tax return Tal vez pueda deducir la cantidad adeudada cuando calcule su impuesto para el año en que la deuda pierda todo su valor. E file 2010 tax return Normalmente, las deudas incobrables no empresariales son deudas incobrables que no obtuvo en el transcurso de la operación de su ocupación o negocio, y son deducibles como pérdidas de capital a corto plazo. E file 2010 tax return Para que las deudas incobrables no comerciales sean deducibles, tienen que perder totalmente su valor. E file 2010 tax return No puede deducir una deuda no comercial que ha perdido sólo parte de su valor. E file 2010 tax return Requisito de deuda genuina. E file 2010 tax return   Una deuda tiene que ser genuina para que pueda deducir la pérdida. E file 2010 tax return Una deuda es genuina si surge de una relación deudor−acreedor que se basa en una obligación válida y ejecutable de reembolsar una suma de dinero fija o determinable. E file 2010 tax return Requisito de base en la deuda incobrable. E file 2010 tax return    Para deducir una deuda incobrable, tiene que tener una base en la misma, es decir, tiene que haber incluido previamente la cantidad en sus ingresos o haber prestado su efectivo. E file 2010 tax return Por ejemplo, no puede declarar una deducción por deuda incobrable por una pensión por orden judicial para hijos menores que su ex cónyuge no haya pagado. E file 2010 tax return Si es contribuyente con base de método a base de efectivo (como la mayoría de las personas físicas), normalmente no puede declarar una deducción por deuda incobrable por sueldos, salarios, alquileres, honorarios, intereses, dividendos y conceptos similares no pagados. E file 2010 tax return Cuándo son deducibles las deudas incobrables. E file 2010 tax return   Puede tomar una deducción por deuda incobrable sólo en el año en que la deuda pierde su valor. E file 2010 tax return No tiene que esperar el vencimiento de una deuda para saber si ha perdido su valor. E file 2010 tax return Una deuda pierde su valor cuando ya no cabe la posibilidad de que se pague la cantidad adeudada. E file 2010 tax return   No es necesario llevar el asunto ante los tribunales si puede demostrar que la deuda sería incobrable a pesar de una sentencia de compensación monetaria dictada por un tribunal. E file 2010 tax return Sólo tiene que demostrar que ha tomado medidas razonables para cobrar la deuda. E file 2010 tax return En la mayoría de los casos, la quiebra del deudor demuestra suf
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The E File 2010 Tax Return

E file 2010 tax return Publication 559 - Main Content Table of Contents Personal RepresentativeDuties Fees Received by Personal Representatives Final Income Tax Return for Decedent—Form 1040Name, Address, and Signature When and Where To File Filing Requirements Income To Include Exemptions and Deductions Credits, Other Taxes, and Payments Tax Forgiveness for Armed Forces Members, Victims of Terrorism, and Astronauts Filing Reminders Other Tax InformationTax Benefits for Survivors Income in Respect of a Decedent Deductions in Respect of a Decedent Estate Tax Deduction Gifts, Insurance, and Inheritances Other Items of Income Income Tax Return of an Estate— Form 1041Filing Requirements Income To Include Exemption and Deductions Credits, Tax, and Payments Name, Address, and Signature When and Where To File Distributions to BeneficiariesIncome That Must Be Distributed Currently Other Amounts Distributed Discharge of a Legal Obligation Character of Distributions How and When To Report Bequest Termination of Estate Estate and Gift TaxesApplicable Credit Amount Gift Tax Estate Tax Generation-Skipping Transfer Tax Comprehensive ExampleFinal Return for Decedent—Form 1040 Income Tax Return of an Estate—Form 1041 How To Get Tax HelpLow Income Taxpayer Clinics Personal Representative A personal representative of an estate is an executor, administrator, or anyone who is in charge of the decedent's property. E file 2010 tax return Generally, an executor (or executrix) is named in a decedent's will to administer the estate and distribute properties as the decedent has directed. E file 2010 tax return An administrator (or administratrix) is usually appointed by the court if no will exists, if no executor was named in the will, or if the named executor cannot or will not serve. E file 2010 tax return In general, an executor and an administrator perform the same duties and have the same responsibilities. E file 2010 tax return For estate tax purposes, if there is no executor or administrator appointed, qualified, and acting within the United States, the term “executor” includes anyone in actual or constructive possession of any property of the decedent. E file 2010 tax return It includes, among others, the decedent's agents and representatives; safe-deposit companies, warehouse companies, and other custodians of property in this country; brokers holding securities of the decedent as collateral; and the debtors of the decedent who are in this country. E file 2010 tax return Duties The primary duties of a personal representative are to collect all the decedent's assets, pay his or her creditors, and distribute the remaining assets to the heirs or other beneficiaries. E file 2010 tax return The personal representative also must perform the following duties. E file 2010 tax return Apply for an employer identification number (EIN) for the estate. E file 2010 tax return File all tax returns, including income, estate and gift tax returns, when due. E file 2010 tax return Pay the tax determined up to the date of discharge from duties. E file 2010 tax return Other duties of the personal representative in federal tax matters are discussed in other sections of this publication. E file 2010 tax return If any beneficiary is a nonresident alien, see Publication 515, Withholding of Tax on Nonresident Aliens and Foreign Entities, for information on the personal representative's duties as a withholding agent. E file 2010 tax return Penalty. E file 2010 tax return   There is a penalty for failure to file a tax return when due unless the failure is due to reasonable cause. E file 2010 tax return Reliance on an agent (attorney, accountant, etc. E file 2010 tax return ) is not reasonable cause for late filing. E file 2010 tax return It is the personal representative's duty to file the returns for the decedent and the estate when due. E file 2010 tax return Identification number. E file 2010 tax return   The first action you should take if you are the personal representative for the decedent is to apply for an EIN for the estate. E file 2010 tax return You should apply for this number as soon as possible because you need to enter it on returns, statements, and other documents you file concerning the estate. E file 2010 tax return You also must give the number to payers of interest and dividends and other payers who must file a return concerning the estate. E file 2010 tax return   You can get an EIN by applying online at www. E file 2010 tax return irs. E file 2010 tax return gov (click on "Apply for an EIN Online" under the Tools heading). E file 2010 tax return Generally, if you apply online, you will receive your EIN immediately upon completing the application. E file 2010 tax return You can also apply using Form SS-4, Application for Employer Identification Number. E file 2010 tax return Generally, if you apply by mail, it takes about 4 weeks to get your EIN. E file 2010 tax return See the form instructions for other ways to apply. E file 2010 tax return   Payers of interest and dividends report amounts on Forms 1099 using the identification number of the person to whom the account is payable. E file 2010 tax return After a decedent's death, Forms 1099 must reflect the identification number of the estate or beneficiary to whom the amounts are payable. E file 2010 tax return As the personal representative handling the estate, you must furnish this identification number to the payer. E file 2010 tax return For example, if interest is payable to the estate, the estate's EIN must be provided to the payer and used to report the interest on Form 1099-INT, Interest Income. E file 2010 tax return If the interest is payable to a surviving joint owner, the survivor's identification number, such as an SSN or ITIN, must be provided to the payer and used to report the interest. E file 2010 tax return   If the estate or a survivor may receive interest or dividends after you inform the payer of the decedent's death, the payer should give you (or the survivor) a Form W-9, Request for Taxpayer Identification Number and Certification (or a similar substitute form). E file 2010 tax return Complete this form to inform the payer of the estate's (or if completed by the survivor, the survivor's) identification number and return it to the payer. E file 2010 tax return    Do not use the deceased individual's identifying number to file an individual income tax return after the decedent's final tax return. E file 2010 tax return Also do not use it to make estimated tax payments for a tax year after the year of death. E file 2010 tax return Penalty. E file 2010 tax return   If you do not include the EIN or the taxpayer identification number of another person where it is required on a return, statement, or other document, you are liable for a penalty for each failure, unless you can show reasonable cause. E file 2010 tax return You also are liable for a penalty if you do not give the taxpayer identification number of another person when required on a return, statement, or other document. E file 2010 tax return Notice of fiduciary relationship. E file 2010 tax return   The term fiduciary means any person acting for another person. E file 2010 tax return It applies to persons who have positions of trust on behalf of others. E file 2010 tax return A personal representative for a decedent's estate is a fiduciary. E file 2010 tax return Form 56. E file 2010 tax return   If you are appointed to act in a fiduciary capacity for another, you must file a written notice with the IRS stating this. E file 2010 tax return Form 56, Notice Concerning Fiduciary Relationship, is used for this purpose. E file 2010 tax return See the Instructions for Form 56 for filing requirements and other information. E file 2010 tax return   File Form 56 as soon as all the necessary information (including the EIN) is available. E file 2010 tax return It notifies the IRS that you, as the fiduciary, are assuming the powers, rights, duties, and privileges of the decedent. E file 2010 tax return The notice remains in effect until you notify the IRS (by filing another Form 56) that your fiduciary relationship with the estate has terminated. E file 2010 tax return Termination of fiduciary relationship. E file 2010 tax return   Form 56 should also be filed to notify the IRS if your fiduciary relationship is terminated or when a successor fiduciary is appointed if the estate has not been terminated. E file 2010 tax return See Form 56 and its instructions for more information. E file 2010 tax return   At the time of termination of the fiduciary relationship, you may want to file Form 4810, Request for Prompt Assessment Under Internal Revenue Code Section 6501(d), and Form 5495, Request for Discharge From Personal Liability Under Internal Revenue Code Section 2204 or 6905, to wind up your duties as fiduciary. E file 2010 tax return See below for a discussion of these forms. E file 2010 tax return Request for prompt assessment (charge) of tax. E file 2010 tax return   The IRS ordinarily has 3 years from the date an income tax return is filed, or its due date, whichever is later, to charge any additional tax due. E file 2010 tax return However, as a personal representative, you may request a prompt assessment of tax after the return has been filed. E file 2010 tax return This reduces the time for making the assessment to 18 months from the date the written request for prompt assessment was received. E file 2010 tax return This request can be made for any tax return (except the estate tax return) of the decedent or the decedent's estate. E file 2010 tax return This may permit a quicker settlement of the tax liability of the estate and an earlier final distribution of the assets to the beneficiaries. E file 2010 tax return Form 4810. E file 2010 tax return   Form 4810 can be used for making this request. E file 2010 tax return It must be filed separately from any other document. E file 2010 tax return   As the personal representative for the decedent's estate, you are responsible for any additional taxes that may be due. E file 2010 tax return You can request prompt assessment of any of the decedent's taxes (other than federal estate taxes) for any years for which the statutory period for assessment is open. E file 2010 tax return This applies even though the returns were filed before the decedent's death. E file 2010 tax return Failure to report income. E file 2010 tax return   If you or the decedent failed to report substantial amounts of gross income (more than 25% of the gross income reported on the return) or filed a false or fraudulent return, your request for prompt assessment will not shorten the period during which the IRS may assess the additional tax. E file 2010 tax return However, such a request may relieve you of personal liability for the tax if you did not have knowledge of the unpaid tax. E file 2010 tax return Request for discharge from personal liability for tax. E file 2010 tax return   An executor can make a request for discharge from personal liability for a decedent's income, gift, and estate taxes. E file 2010 tax return The request must be made after the returns for those taxes are filed. E file 2010 tax return To make the request, file Form 5495. E file 2010 tax return For this purpose, an executor is an executor or administrator that is appointed, qualified, and acting within the United States. E file 2010 tax return   Within 9 months after receipt of the request, the IRS will notify the executor of the amount of taxes due. E file 2010 tax return If this amount is paid, the executor will be discharged from personal liability for any future deficiencies. E file 2010 tax return If the IRS has not notified the executor, he or she will be discharged from personal liability at the end of the 9-month period. E file 2010 tax return    Even if the executor is discharged from personal liability, the IRS will still be able to assess tax deficiencies against the executor to the extent he or she still has any of the decedent's property. E file 2010 tax return Insolvent estate. E file 2010 tax return   Generally, if a decedent's estate is insufficient to pay all the decedent's debts, the debts due to the United States must be paid first. E file 2010 tax return Both the decedent's federal income tax liabilities at the time of death and the estate's income tax liability are debts due to the United States. E file 2010 tax return The personal representative of an insolvent estate is personally responsible for any tax liability of the decedent or of the estate if he or she had notice of such tax obligations or failed to exercise due care in determining if such obligations existed before distribution of the estate's assets and before being discharged from duties. E file 2010 tax return The extent of such personal responsibility is the amount of any other payments made before paying the debts due to the United States, except where such other debt paid has priority over the debts due to the United States. E file 2010 tax return Income tax liabilities need not be formally assessed for the personal representative to be liable if he or she was aware or should have been aware of their existence. E file 2010 tax return Fees Received by Personal Representatives All personal representatives must include fees paid to them from an estate in their gross income. E file 2010 tax return If you are not in the trade or business of being an executor (for instance, you are the executor of a friend's or relative's estate), report these fees on your Form 1040, line 21. E file 2010 tax return If you are in the trade or business of being an executor, report fees received from the estate as self-employment income on Schedule C or Schedule C-EZ of your Form 1040. E file 2010 tax return If the estate operates a trade or business and you, as executor, actively participate in the trade or business while fulfilling your duties, any fees you receive related to the operation of the trade or business must be reported as self-employment income on Schedule C (or Schedule C-EZ) of your Form 1040. E file 2010 tax return Final Income Tax Return for Decedent—Form 1040 The personal representative (defined earlier) must file the final income tax return (Form 1040) of the decedent for the year of death and any returns not filed for preceding years. E file 2010 tax return A surviving spouse, under certain circumstances, may have to file the returns for the decedent. E file 2010 tax return See Joint Return, later. E file 2010 tax return Return for preceding year. E file 2010 tax return   If an individual died after the close of the tax year, but before the return for that year was filed, the return for the year just closed will not be the final return. E file 2010 tax return The return for that year will be a regular return and the personal representative must file it. E file 2010 tax return Example. E file 2010 tax return Samantha Smith died on March 21, 2013, before filing her 2012 tax return. E file 2010 tax return Her personal representative must file her 2012 return by April 15, 2013. E file 2010 tax return Her final tax return covering the period from January 1, 2013, to March 20, 2013, is due April 15, 2014. E file 2010 tax return Name, Address, and Signature Write the word “DECEASED,” the decedent's name, and the date of death across the top of the tax return. E file 2010 tax return If filing a joint return, write the name and address of the decedent and the surviving spouse in the name and address fields. E file 2010 tax return If a joint return is not being filed, write the decedent's name in the name field and the personal representative's name and address in the address field. E file 2010 tax return Third party designee. E file 2010 tax return   You can check the “Yes” box in the Third Party Designee area on page 2 of the return to authorize the IRS to discuss the return with a friend, family member, or any other person you choose. E file 2010 tax return This allows the IRS to call the person you identified as the designee to answer any questions that may arise during the processing of the return. E file 2010 tax return It also allows the designee to perform certain actions. E file 2010 tax return See the Instructions for Form 1040 for details. E file 2010 tax return Signature. E file 2010 tax return   If a personal representative has been appointed, that person must sign the return. E file 2010 tax return If it is a joint return, the surviving spouse must also sign it. E file 2010 tax return If no personal representative has been appointed, the surviving spouse (on a joint return) signs the return and writes in the signature area “Filing as surviving spouse. E file 2010 tax return ” If no personal representative has been appointed and if there is no surviving spouse, the person in charge of the decedent's property must file and sign the return as “personal representative. E file 2010 tax return ” Paid preparer. E file 2010 tax return   If you pay someone to prepare, assist in preparing, or review the tax return, that person must sign the return and fill in the other blanks in the Paid Preparer Use Only area of the return. E file 2010 tax return See the Form 1040 instructions for details. E file 2010 tax return When and Where To File The final income tax return is due at the same time the decedent's return would have been due had death not occurred. E file 2010 tax return A final return for a decedent who was a calendar year taxpayer is generally due on April 15 following the year of death, regardless of when during that year death occurred. E file 2010 tax return However, when the due date falls on a Saturday, Sunday, or legal holiday, the return is filed timely if filed by the next business day. E file 2010 tax return The tax return must be prepared for the year of death regardless of when during the year death occurred. E file 2010 tax return Generally, you must file the final income tax return of the decedent with the Internal Revenue Service Center for the place where you live. E file 2010 tax return A tax return for a decedent can be electronically filed. E file 2010 tax return A personal representative may also obtain an income tax filing extension on behalf of a decedent. E file 2010 tax return Filing Requirements The gross income, age, and filing status of a decedent generally determine whether a return must be filed. E file 2010 tax return Gross income is all income received by an individual from any source in the form of money, goods, property, and services that is not tax-exempt. E file 2010 tax return It includes gross receipts from self-employment, but if the business involves manufacturing, merchandising, or mining, subtract any cost of goods sold. E file 2010 tax return In general, filing status depends on whether the decedent was considered single or married at the time of death. E file 2010 tax return See the income tax return instructions or Publication 501, Exemptions, Standard Deduction, and Filing Information. E file 2010 tax return Refund A return must be filed to obtain a refund if tax was withheld from salaries, wages, pensions, or annuities, or if estimated tax was paid, even if a return is not otherwise required to be filed. E file 2010 tax return Also, the decedent may be entitled to other credits that result in a refund. E file 2010 tax return These advance payments of tax and credits are discussed later under Credits, Other Taxes, and Payments. E file 2010 tax return Form 1310, Statement of Person Claiming Refund Due a Deceased Taxpayer. E file 2010 tax return   Form 1310 does not have to be filed if you are claiming a refund and you are: A surviving spouse filing an original or amended joint return with the decedent, or A court-appointed or certified personal representative filing the decedent’s original return and a copy of the court certificate showing your appointment is attached to the return. E file 2010 tax return   If the personal representative is filing a claim for refund on Form 1040X, Amended U. E file 2010 tax return S. E file 2010 tax return Individual Income Tax Return, or Form 843, Claim for Refund and Request for Abatement, and the court certificate has already been filed with the IRS, attach Form 1310 and write “Certificate Previously Filed” at the bottom of the form. E file 2010 tax return Example. E file 2010 tax return Edward Green died before filing his tax return. E file 2010 tax return You were appointed the personal representative for Edward's estate, and you file his Form 1040 showing a refund due. E file 2010 tax return You do not need Form 1310 to claim the refund if you attach a copy of the court certificate showing you were appointed the personal representative. E file 2010 tax return    If you are a surviving spouse and you receive a tax refund check in both your name and your deceased spouse's name, you can have the check reissued in your name alone. E file 2010 tax return Return the joint-name check marked “VOID” to your local IRS office or the service center where you mailed your return, along with a written request for reissuance of the refund check. E file 2010 tax return A new check will be issued in your name and mailed to you. E file 2010 tax return Death certificate. E file 2010 tax return   When filing the decedent's final income tax return, do not attach the death certificate or other proof of death to the final return. E file 2010 tax return Instead, keep it for your records and provide it if requested. E file 2010 tax return Nonresident Alien If the decedent was a nonresident alien who would have had to file Form 1040NR, U. E file 2010 tax return S. E file 2010 tax return Nonresident Alien Income Tax Return, you must file that form for the decedent's final tax year. E file 2010 tax return See the Instructions for Form 1040NR for the filing requirements, due date, and where to file. E file 2010 tax return Joint Return Generally, the personal representative and the surviving spouse can file a joint return for the decedent and the surviving spouse. E file 2010 tax return However, the surviving spouse alone can file the joint return if no personal representative has been appointed before the due date for filing the final joint return for the year of death. E file 2010 tax return This also applies to the return for the preceding year if the decedent died after the close of the preceding tax year and before filing the return for that year. E file 2010 tax return The income of the decedent that was includible on his or her return for the year up to the date of death (see Income To Include, later) and the income of the surviving spouse for the entire year must be included in the final joint return. E file 2010 tax return A final joint return with the decedent cannot be filed if the surviving spouse remarried before the end of the year of the decedent's death. E file 2010 tax return The filing status of the decedent in this instance is married filing a separate return. E file 2010 tax return For information about tax benefits to which a surviving spouse may be entitled, see Tax Benefits for Survivors, later, under Other Tax Information. E file 2010 tax return Personal representative may revoke joint return election. E file 2010 tax return   A court-appointed personal representative may revoke an election to file a joint return previously made by the surviving spouse alone. E file 2010 tax return This is done by filing a separate return for the decedent within one year from the due date of the return (including any extensions). E file 2010 tax return The joint return made by the surviving spouse will then be regarded as the separate return of that spouse by excluding the decedent's items and refiguring the tax liability. E file 2010 tax return Relief from joint liability. E file 2010 tax return   In some cases, one spouse may be relieved of joint liability for tax, interest, and penalties on a joint return for items of the other spouse that were incorrectly reported on the joint return. E file 2010 tax return If the decedent qualified for this relief while alive, the personal representative can pursue an existing request, or file a request, for relief from joint liability. E file 2010 tax return For information on requesting this relief, see Publication 971, Innocent Spouse Relief. E file 2010 tax return Income To Include The decedent's income includible on the final return is generally determined as if the person were still alive except that the taxable period is usually shorter because it ends on the date of death. E file 2010 tax return The method of accounting regularly used by the decedent before death also determines the income includible on the final return. E file 2010 tax return This section explains how some types of income are reported on the final return. E file 2010 tax return For more information about accounting methods, see Publication 538, Accounting Periods and Methods. E file 2010 tax return Cash Method If the decedent accounted for income under the cash method, only those items actually or constructively received before death are included on the final return. E file 2010 tax return Constructive receipt of income. E file 2010 tax return   Interest from coupons on the decedent's bonds is constructively received by the decedent if the coupons matured in the decedent's final tax year, but had not been cashed. E file 2010 tax return Include the interest income on the final return. E file 2010 tax return   Generally, a dividend is considered constructively received if it was available for use by the decedent without restriction. E file 2010 tax return If the corporation customarily mailed its dividend checks, the dividend was includible when received. E file 2010 tax return If the individual died between the time the dividend was declared and the time it was received in the mail, the decedent did not constructively receive it before death. E file 2010 tax return Do not include the dividend in the final return. E file 2010 tax return Accrual Method Generally, under an accrual method of accounting, income is reported when earned. E file 2010 tax return If the decedent used an accrual method, only the income items normally accrued before death are included on the final return. E file 2010 tax return Interest and Dividend Income (Forms 1099) Form(s) 1099 reporting interest and dividends earned by the decedent before death should be received and the amounts included on the decedent's final return. E file 2010 tax return A separate Form 1099 should show the interest and dividends earned after the date of the decedent's death and paid to the estate or other recipient that must include those amounts on its return. E file 2010 tax return You can request corrected Forms 1099 if these forms do not properly reflect the right recipient or amounts. E file 2010 tax return For example, a Form 1099-INT, reporting interest payable to the decedent, may include income that should be reported on the final income tax return of the decedent, as well as income that the estate or other recipient should report, either as income earned after death or as income in respect of the decedent (discussed later). E file 2010 tax return For income earned after death, you should ask the payer for a Form 1099 that properly identifies the recipient (by name and identification number) and the proper amount. E file 2010 tax return If that is not possible, or if the form includes an amount that represents income in respect of the decedent, report the interest as shown next under How to report. E file 2010 tax return See U. E file 2010 tax return S. E file 2010 tax return savings bonds acquired from decedent under Income in Respect of a Decedent, later, for information on savings bond interest that may have to be reported on the final return. E file 2010 tax return How to report. E file 2010 tax return   If you are preparing the decedent's final return and you have received a Form 1099-INT for the decedent that includes amounts belonging to the decedent and to another recipient (the decedent's estate or another beneficiary), report the total interest shown on Form 1099-INT on Schedule B (Form 1040A or 1040), Interest and Ordinary Dividends. E file 2010 tax return Next, enter a subtotal of the interest shown on Forms 1099, and the interest reportable from other sources for which you did not receive Forms 1099. E file 2010 tax return Then, show any interest (including any interest you receive as a nominee) belonging to another recipient separately and subtract it from the subtotal. E file 2010 tax return Identify the amount of this adjustment as “Nominee Distribution” or other appropriate designation. E file 2010 tax return   Report dividend income for which you received a Form 1099-DIV, Dividends and Distributions, on the appropriate schedule using the same procedure. E file 2010 tax return    Note. E file 2010 tax return If the decedent received amounts as a nominee, you must give the actual owner a Form 1099, unless the owner is the decedent's spouse. E file 2010 tax return See General Instructions for Certain Information Returns (Forms 1097, 1098, 1099, 3921, 3922, 5498, and W-2G) for more information on filing Forms 1099. E file 2010 tax return Partnership Income The death of a partner closes the partnership's tax year for that partner. E file 2010 tax return Generally, it does not close the partnership's tax year for the remaining partners. E file 2010 tax return The decedent's distributive share of partnership items must be figured as if the partnership's tax year ended on the date the partner died. E file 2010 tax return To avoid an interim closing of the partnership books, the partners can agree to estimate the decedent's distributive share by prorating the amounts the partner would have included for the entire partnership tax year. E file 2010 tax return On the decedent's final return, include the decedent's distributive share of partnership items for the following periods. E file 2010 tax return The partnership's tax year that ended within or with the decedent's final tax year (the year ending on the date of death). E file 2010 tax return The period, if any, from the end of the partnership's tax year in (1) to the decedent's date of death. E file 2010 tax return Example. E file 2010 tax return Mary Smith was a partner in XYZ partnership and reported her income on a tax year ending December 31. E file 2010 tax return The partnership uses a tax year ending June 30. E file 2010 tax return Mary died August 31, 2013, and her estate established its tax year through August 31. E file 2010 tax return The distributive share of partnership items based on the decedent's partnership interest is reported as follows. E file 2010 tax return Final Return for the Decedent—January 1 through August 31, 2013, includes XYZ partnership items from (a) the partnership tax year ending June 30, 2013, and (b) the partnership tax year beginning July 1, 2013, and ending August 31, 2013 (the date of death). E file 2010 tax return Income Tax Return of the Estate—September 1, 2013, through August 31, 2014, includes XYZ partnership items for the period September 1, 2013, through June 30, 2014. E file 2010 tax return S Corporation Income If the decedent was a shareholder in an S corporation, include on the final return the decedent's share of the S corporation's items of income, loss, deduction, and credit for the following periods. E file 2010 tax return The corporation's tax year that ended within or with the decedent's final tax year (the year ending on the date of death). E file 2010 tax return The period, if any, from the end of the corporation's tax year in (1) to the decedent's date of death. E file 2010 tax return Self-Employment Income Include self-employment income actually or constructively received or accrued, depending on the decedent's accounting method. E file 2010 tax return For self-employment tax purposes only, the decedent's self-employment income will include the decedent's distributive share of a partnership's income or loss through the end of the month in which death occurred. E file 2010 tax return For this purpose, the partnership's income or loss is considered to be earned ratably over the partnership's tax year. E file 2010 tax return Community Income If the decedent was married and domiciled in a community property state, half of the income received and half of the expenses paid during the decedent's tax year by either the decedent or spouse may be considered to be the income and expenses of the other. E file 2010 tax return For more information, see Publication 555, Community Property. E file 2010 tax return HSA, Archer MSA, or Medicare Advantage MSA The treatment of an HSA (health savings account), an Archer MSA (medical savings account), or a Medicare Advantage MSA at the death of the account holder, depends on who acquires the interest in the account. E file 2010 tax return If the decedent's estate acquires the interest, the fair market value (FMV) of the assets in the account on the date of death is included in income on the decedent's final return. E file 2010 tax return The estate tax deduction, discussed later, does not apply to this amount. E file 2010 tax return If a beneficiary acquires the interest, see the discussion under Income in Respect of a Decedent, later. E file 2010 tax return For other information on HSAs, Archer MSAs, or Medicare Advantage MSAs, see Publication 969, Health Savings Accounts and Other Tax-Favored Health Plans. E file 2010 tax return Coverdell Education Savings Account (ESA) Generally, the balance in a Coverdell ESA must be distributed within 30 days after the individual for whom the account was established reaches age 30, or dies, whichever is earlier. E file 2010 tax return The treatment of the Coverdell ESA at the death of an individual under age 30 depends on who acquires the interest in the account. E file 2010 tax return If the decedent's estate acquires the interest, the earnings on the account must be included on the final income tax return of the decedent. E file 2010 tax return The estate tax deduction, discussed later, does not apply to this amount. E file 2010 tax return If a beneficiary acquires the interest, see the discussion under Income in Respect of a Decedent, later. E file 2010 tax return The age 30 limitation does not apply if the individual for whom the account was established or the beneficiary that acquires the account is an individual with special needs. E file 2010 tax return This includes an individual who, because of a physical, mental, or emotional condition (including a learning disability), requires additional time to complete his or her education. E file 2010 tax return For more information on Coverdell ESAs, see Publication 970, Tax Benefits for Education. E file 2010 tax return Accelerated Death Benefits Accelerated death benefits are amounts received under a life insurance contract before the death of the insured individual. E file 2010 tax return These benefits also include amounts received on the sale or assignment of the contract to a viatical settlement provider. E file 2010 tax return Generally, if the decedent received accelerated death benefits on the life of a terminally or chronically ill individual, whether on his or her own life or on the life of another person, those benefits are not included in the decedent's income. E file 2010 tax return For more information, see the discussion under Gifts, Insurance, and Inheritances under Other Tax Information, later. E file 2010 tax return Exemptions and Deductions Generally, the rules for exemptions and deductions allowed to an individual also apply to the decedent's final income tax return. E file 2010 tax return Show on the final return deductible items the decedent paid (or accrued, if the decedent reported deductions on an accrual method) before death. E file 2010 tax return This section contains a detailed discussion of medical expenses because the tax treatment of the decedent's medical expenses can be different. E file 2010 tax return See Medical Expenses, later. E file 2010 tax return Exemptions You can claim the decedent's personal exemption on the final income tax return. E file 2010 tax return If the decedent was another person's dependent (for example, a parent's), you cannot claim the personal exemption on the decedent's final return. E file 2010 tax return Standard Deduction If you do not itemize deductions on the final return, the full amount of the appropriate standard deduction is allowed regardless of the date of death. E file 2010 tax return For information on the appropriate standard deduction, see the Form 1040 income tax return instructions or Publication 501. E file 2010 tax return Medical Expenses Medical expenses paid before death by the decedent are deductible, subject to limits, on the final income tax return if deductions are itemized. E file 2010 tax return This includes expenses for the decedent, as well as for the decedent's spouse and dependents. E file 2010 tax return Beginning in 2013, medical expenses exceeding 10% of adjusted gross income (AGI) may be deducted, unless the decedent or their spouse is age 65 or older. E file 2010 tax return In that case medical expenses exceeding 7. E file 2010 tax return 5% of AGI may be deducted. E file 2010 tax return Qualified medical expenses are not deductible if paid with a tax-free distribution from an HSA or an Archer MSA. E file 2010 tax return Election for decedent's expenses. E file 2010 tax return   Medical expenses not paid before death are liabilities of the estate and are shown on the federal estate tax return (Form 706). E file 2010 tax return However, if medical expenses for the decedent are paid out of the estate during the 1-year period beginning with the day after death, you can elect to treat all or part of the expenses as paid by the decedent at the time they were incurred. E file 2010 tax return   If you make the election, you can claim all or part of the expenses on the decedent's income tax return (if deductions are itemized) rather than on the federal estate tax return (Form 706). E file 2010 tax return You can deduct expenses incurred in the year of death on the final income tax return. E file 2010 tax return You should file an amended return (Form 1040X) for medical expenses incurred in an earlier year, unless the statutory period for filing a claim for that year has expired. E file 2010 tax return   The amount you can deduct on the income tax return is the amount above 10% of adjusted gross income (or 7. E file 2010 tax return 5% of adjusted gross income if the decedent or the decedent's spouse was born before January 2, 1949). E file 2010 tax return Amounts not deductible because of this percentage cannot be claimed on the federal estate tax return. E file 2010 tax return Making the election. E file 2010 tax return   You make the election by attaching a statement, in duplicate, to the decedent's income tax return or amended return. E file 2010 tax return The statement must state that you have not claimed the amount as an estate tax deduction, and that the estate waives the right to claim the amount as a deduction. E file 2010 tax return This election applies only to expenses incurred for the decedent, not to expenses incurred to provide medical care for dependents. E file 2010 tax return Example. E file 2010 tax return Richard Brown used the cash method of accounting and filed his income tax return on a calendar year basis. E file 2010 tax return Richard died on June 1, 2013, at the age of 78, after incurring $800 in medical expenses. E file 2010 tax return Of that amount, $500 was incurred in 2012 and $300 was incurred in 2013. E file 2010 tax return Richard itemized his deductions when he filed his 2012 income tax return. E file 2010 tax return The personal representative of the estate paid the entire $800 liability in August 2013. E file 2010 tax return The personal representative may file an amended return (Form 1040X) for 2012 claiming the $500 medical expense as a deduction, subject to the 7. E file 2010 tax return 5% limit. E file 2010 tax return The $300 of expenses incurred in 2013 can be deducted on the final income tax return if deductions are itemized, subject to the 7. E file 2010 tax return 5% limit. E file 2010 tax return The personal representative must file a statement in duplicate with each return stating that these amounts have not been claimed on the federal estate tax return (Form 706), and waiving the right to claim such a deduction on Form 706 in the future. E file 2010 tax return Medical expenses not paid by estate. E file 2010 tax return   If you paid medical expenses for your deceased spouse or dependent, claim the expenses on your tax return for the year in which you paid them, whether they are paid before or after the decedent's death. E file 2010 tax return If the decedent was a child of divorced or separated parents, the medical expenses can usually be claimed by both the custodial and noncustodial parent to the extent paid by that parent during the year. E file 2010 tax return Insurance reimbursements. E file 2010 tax return   Insurance reimbursements of previously deducted medical expenses due a decedent at the time of death and later received by the decedent's estate are includible in the income tax return of the estate (Form 1041) for the year the reimbursements are received. E file 2010 tax return The reimbursements are also includible in the decedent's gross estate. E file 2010 tax return No deduction for funeral expenses can be taken on the final Form 1040 of a decedent. E file 2010 tax return These expenses may be deductible for estate tax purposes on Form 706. E file 2010 tax return Deduction for Losses A decedent's net operating loss deduction from a prior year and any capital losses (including capital loss carryovers) can be deducted only on the decedent's final income tax return. E file 2010 tax return A net operating loss on the decedent's final income tax return can be carried back to prior years. E file 2010 tax return (See Publication 536, Net Operating Losses (NOLs) for Individuals, Estates, and Trusts. E file 2010 tax return ) You cannot deduct any unused net operating loss or capital loss on the estate's income tax return. E file 2010 tax return At-risk loss limits. E file 2010 tax return   Special at-risk rules apply to most activities that are engaged in as a trade or business or for the production of income. E file 2010 tax return   These rules limit the deductible loss to the amount which the individual was considered at-risk in the activity. E file 2010 tax return An individual generally will be considered at-risk to the extent of the money and the adjusted basis of property that he or she contributed to the activity and certain amounts the individual borrowed for use in the activity. E file 2010 tax return An individual will be considered at-risk for amounts borrowed only if he or she was personally liable for the repayment or if the amounts borrowed were secured by property other than that used in the activity. E file 2010 tax return The individual is not considered at-risk for borrowed amounts if the lender has an interest in the activity or if the lender is related to a person who has an interest in the activity. E file 2010 tax return For more information, see Publication 925, Passive Activity and At-Risk Rules. E file 2010 tax return Passive activity rules. E file 2010 tax return   A passive activity is any trade or business activity in which the taxpayer does not materially participate. E file 2010 tax return To determine material participation, see Publication 925. E file 2010 tax return Rental activities are passive activities regardless of the taxpayer's participation, unless the taxpayer meets certain eligibility requirements. E file 2010 tax return   Individuals, estates, and trusts can offset passive activity losses only against passive activity income. E file 2010 tax return Passive activity losses or credits not allowed in one tax year can be carried forward to the next year. E file 2010 tax return   If a passive activity interest is transferred because a taxpayer dies, the accumulated unused passive activity losses are allowed as a deduction against the decedent's income in the year of death. E file 2010 tax return Losses are allowed only to the extent they are greater than the excess of the transferee's (recipient of the interest transferred) basis in the property over the decedent's adjusted basis in the property immediately before death. E file 2010 tax return The part of the accumulated losses equal to the excess is not allowed as a deduction for any tax year. E file 2010 tax return   Use Form 8582, Passive Activity Loss Limitations, to summarize losses and income from passive activities and to figure the amounts allowed. E file 2010 tax return For more information, see Publication 925. E file 2010 tax return Credits, Other Taxes, and Payments Discussed below are some of the tax credits, types of taxes that may be owed, income tax withheld, and estimated tax payments reported on the final return of a decedent. E file 2010 tax return Credits On the final income tax return, you can claim any tax credits that applied to the decedent before death. E file 2010 tax return Some of these credits are discussed next. E file 2010 tax return Earned income credit. E file 2010 tax return   If the decedent was an eligible individual, you can claim the earned income credit on the decedent's final return even though the return covers less than 12 months. E file 2010 tax return If the allowable credit is more than the tax liability for the year, the excess is refunded. E file 2010 tax return   For more information, see Publication 596, Earned Income Credit (EIC). E file 2010 tax return Credit for the elderly or the disabled. E file 2010 tax return   This credit is allowable on a decedent's final income tax return if the decedent met both of the following requirements in the year of death. E file 2010 tax return The decedent: Was a “qualified individual,” and Had income (adjusted gross income (AGI) and nontaxable social security and pensions) less than certain limits. E file 2010 tax return   For details on qualifying for or figuring the credit, see Publication 524, Credit for the Elderly or the Disabled. E file 2010 tax return Child tax credit. E file 2010 tax return   If the decedent had a qualifying child, you may be able to claim the child tax credit on the decedent's final return even though the return covers less than 12 months. E file 2010 tax return You may be able to claim the additional child tax credit and get a refund if the credit is more than the decedent's liability. E file 2010 tax return For more information, see the Instructions for Form 1040. E file 2010 tax return Adoption credit. E file 2010 tax return   Depending upon when the adoption was finalized, this credit may be taken on a decedent's final income tax return if the decedent: Adopted an eligible child and paid qualified adoption expenses, or Has a carryforward of an adoption credit from a prior year. E file 2010 tax return   Also, if the decedent is survived by a spouse who meets the filing status of qualifying widow(er), unused adoption credit may be carried forward and used following the death of the decedent. E file 2010 tax return See Form 8839, Qualified Adoption Expenses, and its instructions for more details. E file 2010 tax return General business tax credit. E file 2010 tax return   The general business credit available to a taxpayer is limited. E file 2010 tax return Any credit arising in a tax year beginning before 1998 that has not been used up can be carried forward for up to 15 years. E file 2010 tax return Any unused credit arising in a tax year beginning after 1997 has a 1-year carryback and a 20-year carryforward period. E file 2010 tax return   After the carryforward period, a deduction may be allowed for any unused business credit. E file 2010 tax return If the taxpayer dies before the end of the carryforward period, the deduction generally is allowed in the year of death. E file 2010 tax return   For more information on the general business credit, see Publication 334, Tax Guide for Small Business. E file 2010 tax return Other Taxes Taxes other than income tax that may be owed on the final return of a decedent include self-employment tax and alternative minimum tax, which are reported on Form 1040. E file 2010 tax return Self-employment tax. E file 2010 tax return   Self-employment tax may be owed on the final return if either of the following applied to the decedent in the year of death: Net earnings from self-employment (excluding income described in (2)) were $400 or more; or Wages from services performed as a church employee were $108. E file 2010 tax return 28 or more. E file 2010 tax return Alternative minimum tax (AMT). E file 2010 tax return   The tax laws give special treatment to certain types of income and allow special deductions and credits for certain types of expenses. E file 2010 tax return The alternative minimum tax (AMT) was enacted so taxpayers who benefit from these laws still pay at least a minimum amount of tax. E file 2010 tax return In general, the AMT is the excess of the tentative minimum tax over the regular tax shown on the return. E file 2010 tax return Form 6251. E file 2010 tax return    Use Form 6251, Alternative Minimum Tax—Individuals, to determine if this tax applies to the decedent. E file 2010 tax return See the form instructions for information on when you must attach Form 6251 to Form 1040. E file 2010 tax return Form 8801. E file 2010 tax return   If the decedent paid AMT in a previous year or had a credit carryforward, the decedent may be eligible for a minimum tax credit. E file 2010 tax return See Form 8801, Credit for Prior Year Minimum Tax—Individuals, Estates, and Trusts. E file 2010 tax return Payments of Tax The income tax withheld from the decedent's salary, wages, pensions, or annuities, and the amount paid as estimated tax are credits (advance payments of tax) that must be claimed on the final return. E file 2010 tax return Tax Forgiveness for Armed Forces Members, Victims of Terrorism, and Astronauts Income tax liability may be forgiven for a decedent who dies due to service in a combat zone, due to military or terrorist actions, as a result of a terrorist attack, or while serving in the line of duty as an astronaut. E file 2010 tax return Combat Zone If a member of the Armed Forces of the United States dies while in active service in a combat zone or from wounds, disease, or injury incurred in a combat zone, the decedent's income tax liability is abated (forgiven) for the entire year in which death occurred and for any prior tax year ending on or after the first day the person served in a combat zone in active service. E file 2010 tax return For this purpose, a qualified hazardous duty area is treated as a combat zone. E file 2010 tax return If the tax (including interest, additions to the tax, and additional amounts) for these years has been assessed, the assessment will be forgiven. E file 2010 tax return If the tax has been collected (regardless of the date of collection), that tax will be credited or refunded. E file 2010 tax return Any of the decedent's income tax for tax years before those mentioned above that remains unpaid as of the actual (or presumptive) date of death will not be assessed. E file 2010 tax return If any unpaid tax (including interest, additions to the tax, and additional amounts) has been assessed, this assessment will be forgiven. E file 2010 tax return Also, if any tax was collected after the date of death, that amount will be credited or refunded. E file 2010 tax return The date of death of a member of the Armed Forces reported as missing in action or as a prisoner of war is the date his or her name is removed from missing status for military pay purposes. E file 2010 tax return This is true even if death actually occurred earlier. E file 2010 tax return For other tax information for members of the Armed Forces, see Publication 3, Armed Forces' Tax Guide. E file 2010 tax return Military or Terrorist Actions The decedent's income tax liability is forgiven if, at death, he or she was a military or civilian employee of the United States who died because of wounds or injury incurred: While a U. E file 2010 tax return S. E file 2010 tax return employee, and In a military or terrorist action. E file 2010 tax return The forgiveness applies to the tax year in which death occurred and for any earlier tax year, beginning with the year before the year in which the wounds or injury occurred. E file 2010 tax return Example. E file 2010 tax return The income tax liability of a civilian employee of the United States who died in 2013 because of wounds incurred while a U. E file 2010 tax return S. E file 2010 tax return employee in a terrorist attack that occurred in 2008 will be forgiven for 2013 and for all prior tax years in the period 2007 through 2012. E file 2010 tax return Refunds are allowed for the tax years for which the period for filing a claim for refund has not ended, as discussed later. E file 2010 tax return Military or terrorist action defined. E file 2010 tax return   A military or terrorist action means the following. E file 2010 tax return Any terrorist activity that most of the evidence indicates was directed against the United States or any of its allies. E file 2010 tax return Any military action involving the U. E file 2010 tax return S. E file 2010 tax return Armed Forces and resulting from violence or aggression against the United States or any of its allies, or the threat of such violence or aggression. E file 2010 tax return   Terrorist activity includes criminal offenses intended to coerce, intimidate, or retaliate against the government or civilian population. E file 2010 tax return Military action does not include training exercises. E file 2010 tax return Any multinational force in which the United States is participating is treated as an ally of the United States. E file 2010 tax return Determining if a terrorist activity or military action has occurred. E file 2010 tax return   You may rely on published guidance from the IRS to determine if a particular event is considered a terrorist activity or military action. E file 2010 tax return Specified Terrorist Victim The Victims of Terrorism Tax Relief Act of 2001 (the Act) provides tax relief for those injured or killed as a result of terrorist attacks, certain survivors of those killed as a result of terrorist attacks, and others who were affected by terrorist attacks. E file 2010 tax return Under the Act, the federal income tax liability of those killed in the following attacks (specified terrorist victim) is forgiven for certain tax years. E file 2010 tax return The April 19, 1995, terrorist attack on the Alfred P. E file 2010 tax return Murrah Federal Building (Oklahoma City). E file 2010 tax return The September 11, 2001, terrorist attacks. E file 2010 tax return The terrorist attacks involving anthrax occurring after September 10, 2001, and before January 1, 2002. E file 2010 tax return The Act also exempts from federal income tax the following types of income. E file 2010 tax return Qualified disaster relief payments made after September 10, 2001, to cover personal, family, living, or funeral expenses incurred because of a terrorist attack. E file 2010 tax return Certain disability payments received in tax years ending after September 10, 2001, for injuries sustained in a terrorist attack. E file 2010 tax return Certain death benefits paid by an employer to the survivor of an employee because the employee died as a result of a terrorist attack. E file 2010 tax return Payments from the September 11th Victim Compensation Fund 2001. E file 2010 tax return The Act also reduces the estate tax of individuals who die as a result of a terrorist attack. E file 2010 tax return See Publication 3920, Tax Relief for Victims of Terrorist Attacks, for more information. E file 2010 tax return Astronauts Legislation extended the tax relief available under the Victims of Terrorism Tax Relief Act of 2001 (the Act) to astronauts who died in the line of duty after December 31, 2002. E file 2010 tax return The decedent's income tax liability is forgiven for the tax year in which death occurs, and for the tax year prior to death. E file 2010 tax return For information on death benefit payments and the reduction of federal estate taxes, see Publication 3920. E file 2010 tax return However, the discussions in that publication under Death Benefits and Estate Tax Reduction should be modified for astronauts (for example, by using the date of death of the astronaut instead of September 11, 2001). E file 2010 tax return For more information on the Act, see Publication 3920. E file 2010 tax return Claim for Credit or Refund If any of these tax-forgiveness situations applies to a prior year tax, any tax paid for which the period for filing a claim has not ended will be credited or refunded. E file 2010 tax return If any tax is still due, it will be canceled. E file 2010 tax return The normal period for filing a claim for credit or refund is 3 years after the return was filed or 2 years after the tax was paid, whichever is later. E file 2010 tax return If death occurred in a combat zone or from wounds, disease, or injury incurred in a combat zone, the period for filing the claim is extended by: The amount of time served in the combat zone (including any period in which the individual was in missing status), plus The period of continuous qualified hospitalization for injury from service in the combat zone, if any, plus The next 180 days. E file 2010 tax return Qualified hospitalization means any hospitalization outside the United States and any hospitalization in the United States of not more than 5 years. E file 2010 tax return This extended period for filing the claim also applies to a member of the Armed Forces who was deployed outside the United States in a designated contingency operation. E file 2010 tax return Filing a claim. E file 2010 tax return   Use the following procedures to file a claim. E file 2010 tax return If a U. E file 2010 tax return S. E file 2010 tax return individual income tax return (Form 1040, 1040A, or 1040EZ) has not been filed, you should make a claim for refund of any withheld income tax or estimated tax payments by filing Form 1040. E file 2010 tax return Form W-2, Wage and Tax Statement, must accompany all returns. E file 2010 tax return If a U. E file 2010 tax return S. E file 2010 tax return individual income tax return has been filed, you should make a claim for refund by filing Form 1040X. E file 2010 tax return You must file a separate Form 1040X for each year in question. E file 2010 tax return   You must file these returns and claims at the following address for regular mail (U. E file 2010 tax return S. E file 2010 tax return Postal Service). E file 2010 tax return    Internal Revenue Service 333 W. E file 2010 tax return Pershing, P5–6503 Kansas City, MO 64108   Identify all returns and claims for refund by writing “Iraq—KIA,” “Enduring Freedom—KIA,” “Kosovo Operation—KIA,” “Desert Storm—KIA,” or “Former Yugoslavia—KIA” in bold letters on the top of page 1 of the return or claim. E file 2010 tax return On the applicable return, write the same phrase on the line for total tax. E file 2010 tax return If the individual was killed in a terrorist or military action, put “KITA” on the front of the return and on the line for total tax. E file 2010 tax return   Include an attachment showing the computation of the decedent's tax liability and a computation of the amount to be forgiven. E file 2010 tax return On joint returns, make an allocation of the tax as described below under Joint returns. E file 2010 tax return If you cannot make a proper allocation, attach a statement of all income and deductions allocable to each spouse and the IRS will make the proper allocation. E file 2010 tax return   You must attach Form 1310 to all returns and claims for refund. E file 2010 tax return However, for exceptions to filing Form 1310, see Form 1310. E file 2010 tax return Statement of Person Claiming Refund Due a Deceased Taxpayer, under Refund, earlier. E file 2010 tax return   You must also attach proof of death that includes a statement that the individual was a U. E file 2010 tax return S. E file 2010 tax return employee on the date of injury and on the date of death and died as the result of a military or terrorist action. E file 2010 tax return For military and civilian employees of the Department of Defense, attach DD Form 1300, Report of Casualty. E file 2010 tax return For other U. E file 2010 tax return S. E file 2010 tax return civilian employees killed in the United States, attach a death certificate and a certification (letter) from the federal employer. E file 2010 tax return For other U. E file 2010 tax return S. E file 2010 tax return civilian employees killed overseas, attach a certification from the Department of State. E file 2010 tax return   If you do not have enough tax information to file a timely claim for refund, you can suspend the period for filing a claim by filing Form 1040X. E file 2010 tax return Attach Form 1310, any required documentation currently available, and a statement that you will file an amended claim as soon as you have the required tax information. E file 2010 tax return Joint returns. E file 2010 tax return   If a joint return was filed, only the decedent's part of the income tax liability is eligible for forgiveness. E file 2010 tax return Determine the decedent's tax liability as follows. E file 2010 tax return Figure the income tax for which the decedent would have been liable if a separate return had been filed. E file 2010 tax return Figure the income tax for which the spouse would have been liable if a separate return had been filed. E file 2010 tax return Multiply the joint tax liability by a fraction. E file 2010 tax return The numerator of the fraction is the amount in (1), above. E file 2010 tax return The denominator of the fraction is the total of (1) and (2). E file 2010 tax return   The resulting amount from (3) above is the decedent's tax liability eligible for forgiveness. E file 2010 tax return Filing Reminders To minimize the time needed to process the decedent's final return and issue any refund, be sure to follow these procedures. E file 2010 tax return Write “DECEASED,” the decedent's name, and the date of death across the top of the tax return. E file 2010 tax return If a personal representative has been appointed, the personal representative must sign the return. E file 2010 tax return If it is a joint return, the surviving spouse must also sign it. E file 2010 tax return If you are the decedent's spouse filing a joint return with the decedent and no personal representative has been appointed, write “Filing as surviving spouse” in the area where you sign the return. E file 2010 tax return If no personal representative has been appointed and if there is no surviving spouse, the person in charge of the decedent's property must file and sign the return as “personal representative. E file 2010 tax return ” To claim a refund for the decedent, do the following. E file 2010 tax return If you are the decedent's spouse filing a joint return with the decedent, file only the tax return to claim the refund. E file 2010 tax return If you are the personal representative and the return is not a joint return filed with the decedent's surviving spouse, file the return and attach a copy of the certificate that shows your appointment by the court. E file 2010 tax return (A power of attorney or a copy of the decedent's will is not acceptable evidence of your appointment as the personal representative. E file 2010 tax return ) If you are filing an amended return, attach Form 1310 and a copy of the certificate of appointment (or, if you have already sent the certificate of appointment to IRS, write “Certificate Previously Filed” at the bottom of Form 1310). E file 2010 tax return If you are not filing a joint return as the surviving spouse and a personal representative has not been appointed, file the return and attach Form 1310. E file 2010 tax return Other Tax Information Discussed below is information about the effect of an individual's death on the income tax liability of the survivors (including widows and widowers), the beneficiaries, and the estate. E file 2010 tax return Tax Benefits for Survivors Survivors can qualify for certain benefits when filing their own income tax returns. E file 2010 tax return Joint return by surviving spouse. E file 2010 tax return   A surviving spouse can file a joint return for the year of death and may qualify for special tax rates for the following 2 years, as explained under Qualifying widows and widowers, later. E file 2010 tax return Decedent as your dependent. E file 2010 tax return   If the decedent qualified as your dependent for a part of the year before death, you can claim the exemption for the dependent on your tax return, regardless of when death occurred during the year. E file 2010 tax return   If the decedent was your qualifying child, you may be able to claim the child tax credit or the earned income credit. E file 2010 tax return To determine if you qualify for the child tax credit, see the instructions for Form 1040, line 51; Form 1040A, line 33; or Form 1040NR, line 48. E file 2010 tax return To determine if you qualify for the earned income credit, see the instructions for Form 1040, lines 64a and 64b or Form 1040A, lines 38a and 38b. E file 2010 tax return Qualifying widows and widowers. E file 2010 tax return   If your spouse died within the 2 tax years preceding the year for which your return is being filed, you may be eligible to claim the filing status of qualifying widow(er) with dependent child and qualify to use the married-filing-jointly tax rates. E file 2010 tax return Requirements. E file 2010 tax return   Generally, you qualify for this special benefit if you meet all of the following requirements. E file 2010 tax return You were entitled to file a joint return with your spouse for the year of death—whether or not you actually filed jointly. E file 2010 tax return You did not remarry before the end of the current tax year. E file 2010 tax return You have a child, stepchild, or foster child who qualifies as your dependent for the tax year. E file 2010 tax return You provide more than half the cost of maintaining your home, which is the principal residence of that child for the entire year except for temporary absences. E file 2010 tax return Example. E file 2010 tax return William Burns' wife died in 2010. E file 2010 tax return William has not remarried and continued throughout 2011 and 2012 to maintain a home for himself and his dependent child. E file 2010 tax return For 2010, he was entitled to file a joint return for himself and his deceased wife. E file 2010 tax return For 2011 and 2012, he qualifies to file as a qualifying widower with dependent child. E file 2010 tax return For later years, he may qualify to file as a head of household. E file 2010 tax return Figuring your tax. E file 2010 tax return   Check the box on line 5 (Form 1040 or 1040A) under Filing Status on your tax return. E file 2010 tax return Use the Tax Rate Schedule or the column in the Tax Table for Married filing jointly, which gives you the split-income benefits. E file 2010 tax return   The last year you can file jointly with, or claim an exemption for, your deceased spouse is the year of death. E file 2010 tax return Joint return filing rules. E file 2010 tax return   If you are the surviving spouse and a personal representative is handling the estate for the decedent, you should coordinate filing your return for the year of death with this personal representative. E file 2010 tax return See Joint Return under Final Income Tax Return for Decedent—Form 1040, earlier. E file 2010 tax return Income in Respect of a Decedent All income the decedent would have received had death not occurred that was not properly includible on the final return, discussed earlier, is income in respect of a decedent. E file 2010 tax return If the decedent is a specified terrorist victim (see Specified Terrorist Victim, earlier), income received after the date of death and before the end of the decedent's tax year (determined without regard to death) is excluded from the recipient's gross income. E file 2010 tax return This exclusion does not apply to certain income. E file 2010 tax return For more information, see Publication 3920. E file 2010 tax return How To Report Income in respect of a decedent must be included in the income of one of the following. E file 2010 tax return The decedent's estate, if the estate receives it. E file 2010 tax return The beneficiary, if the right to income is passed directly to the beneficiary and the beneficiary receives it. E file 2010 tax return Any person to whom the estate properly distributes the right to receive it. E file 2010 tax return If you have to include income in respect of a decedent in your gross income and an estate tax return (Form 706) was filed for the decedent, you may be able to claim a deduction for the estate tax paid on that income. E file 2010 tax return See Estate Tax Deduction, later. E file 2010 tax return Example 1. E file 2010 tax return Frank Johnson owned and operated an apple orchard. E file 2010 tax return He used the cash method of accounting. E file 2010 tax return He sold and delivered 1,000 bushels of apples to a canning factory for $2,000, but did not receive payment before his death. E file 2010 tax return The proceeds from the sale are income in respect of a decedent. E file 2010 tax return When the estate was settled, payment had not been made and the estate transferred the right to the payment to his widow. E file 2010 tax return When Frank's widow collects the $2,000, she must include that amount in her return. E file 2010 tax return It is not reported on the final return of the decedent or on the return of the estate. E file 2010 tax return Example 2. E file 2010 tax return Assume the same facts as in Example 1, except that Frank used the accrual method of accounting. E file 2010 tax return The amount accrued from the sale of the apples would be included on his final return. E file 2010 tax return Neither the estate nor the widow would realize income in respect of a decedent when the money is later paid. E file 2010 tax return Example 3. E file 2010 tax return On February 1, George High, a cash method taxpayer, sold his tractor for $3,000, payable March 1 of the same year. E file 2010 tax return His adjusted basis in the tractor was $2,000. E file 2010 tax return George died on February 15, before receiving payment. E file 2010 tax return The gain to be reported as income in respect of a decedent is the $1,000 difference between the decedent's basis in the property and the sale proceeds. E file 2010 tax return In other words, the income in respect of a decedent is the gain the decedent would have realized had he lived. E file 2010 tax return Example 4. E file 2010 tax return Cathy O'Neil was entitled to a large salary payment at the date of her death. E file 2010 tax return The amount was to be paid in five annual installments. E file 2010 tax return The estate, after collecting two installments, distributed the right to the remaining installments to you, the beneficiary. E file 2010 tax return The payments are income in respect of a decedent. E file 2010 tax return None of the payments were includible on Cathy's final return. E file 2010 tax return The estate must include in its income the two installments it received, and you must include in your income each of the three installments as you receive them. E file 2010 tax return Example 5. E file 2010 tax return You inherited the right to receive renewal commissions on life insurance sold by your father before his death. E file 2010 tax return You inherited the right from your mother, who acquired it by bequest from your father. E file 2010 tax return Your mother died before she received all the commissions she had the right to receive, so you received the rest. E file 2010 tax return The commissions are income in respect of a decedent. E file 2010 tax return None of these commissions were includible in your father's final return. E file 2010 tax return The commissions received by your mother were included in her income. E file 2010 tax return The commissions you received are not includible in your mother's income, even on her final return. E file 2010 tax return You must include them in your income. E file 2010 tax return Character of income. E file 2010 tax return   The character of the income you receive in respect of a decedent remains the same as it would have been to the decedent if he or she were alive. E file 2010 tax return If the income would have been a capital gain to the decedent, it will be a capital gain to you. E file 2010 tax return Transfer of right to income. E file 2010 tax return   If you transfer your right to income in respect of a decedent, you must include in your income the greater of: The amount you receive for the right, or The fair market value of the right you transfer. E file 2010 tax return   If you make a gift of such a right, you must include in your income the fair market value of the right at the time of the gift. E file 2010 tax return   If the right to income from an installment obligation is transferred, the amount you must include in income is reduced by the basis of the obligation. E file 2010 tax return See Installment obligations, later. E file 2010 tax return Transfer defined. E file 2010 tax return   A transfer for this purpose includes a sale, exchange, or other disposition, the satisfaction of an installment obligation at other than face value, or the cancellation of an installment obligation. E file 2010 tax return Installment obligations. E file 2010 tax return   If the decedent sold property using the installment method and you are collecting payments on an installment obligation acquired from the decedent, use the same gross profit percentage the decedent used to figure the part of each payment that represents profit. E file 2010 tax return Include in your income the same profit the decedent would have included had death not occurred. E file 2010 tax return For more information, see Publication 537, Installment Sales. E file 2010 tax return   If you dispose of an installment obligation acquired from a decedent (other than by transfer to the obligor), the rules explained in Publication 537 for figuring gain or loss on the disposition apply to you. E file 2010 tax return Transfer to obligor. E file 2010 tax return   A transfer of a right to income, discussed earlier, has occurred if the decedent (seller) sold property using the installment method and the installment obligation was transferred to the obligor (buyer or person legally obligated to pay the installments). E file 2010 tax return A transfer also occurs if the obligation was canceled either at death or by the estate or person receiving the obligation from the decedent. E file 2010 tax return An obligation that becomes unenforceable is treated as having been canceled. E file 2010 tax return   If such a transfer occurs, the amount included in the income of the transferor (the estate or beneficiary) is the greater of the amount received or the fair market value of the installment obligation at the time of transfer, reduced by the basis of the obligation. E file 2010 tax return The basis of the obligation is the decedent's basis, adjusted for all installment payments received after the decedent's death and before the transfer. E file 2010 tax return   If the decedent and obligor were related persons, the fair market value of the obligation cannot be less than its face value. E file 2010 tax return Specific Types of Income in Respect of a Decedent This section explains and provides examples of some specific types of income in respect of a decedent. E file 2010 tax return Wages. E file 2010 tax return   The entire amount of wages or other employee compensation earned by the decedent but unpaid at the time of death is income in respect of a decedent. E file 2010 tax return The income is not reduced by any amounts withheld by the employer. E file 2010 tax return If the income is $600 or more, the employer should report it in box 3 of Form 1099-MISC, Miscellaneous Income, and give the recipient a copy of the form or a similar statement. E file 2010 tax return   Wages paid as income in respect of a decedent are not subject to federal income tax withholding. E file 2010 tax return However, if paid during the calendar year of death, they are subject to withholding for social security and Medicare taxes. E file 2010 tax return These taxes should be included on the decedent's Form W-2 along with the taxes withheld before death. E file 2010 tax return These wages are not included in box 1 of Form W-2. E file 2010 tax return   Wages paid as income in respect of a decedent after the year of death generally are not subject to withholding for any federal taxe