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File An Extension On My Taxes

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File An Extension On My Taxes

File an extension on my taxes 21. File an extension on my taxes   Gastos Médicos y Dentales Table of Contents Qué Hay de Nuevo Introduction Useful Items - You may want to see: ¿Qué Son Gastos Médicos? ¿Qué Gastos Puede Incluir Este Año?Estados donde rige la ley de los bienes gananciales. File an extension on my taxes ¿Qué Cantidad de los Gastos Puede Deducir? ¿De Qué Personas Puede Incluir Gastos Médicos?Usted Cónyuge Dependiente Difuntos ¿Qué Gastos Médicos se Pueden Incluir?Primas de Seguros Comidas y Alojamiento Transporte Gastos del Cuidado de un Dependiente Incapacitado ¿Cómo se Tratan los Reembolsos?Reembolso de Seguros Indemnizaciones por Lesiones Personales Cómo Calcular y Reclamar la Deducción en su Declaración de Impuestos¿Qué Formulario Debe Usar para la Declaración? Gastos de Trabajo Relacionados con un Impedimento Costos del Seguro Médico para Personas que Trabajan por Cuenta Propia Qué Hay de Nuevo Gastos médicos y dentales. File an extension on my taxes  Comenzando el 1 de enero de 2013, usted puede deducir sólo la parte de sus gastos médicos y dentales que exceda del 10% de su ingreso bruto ajustado (AGI, por sus siglas en inglés) (7. File an extension on my taxes 5% si usted o su cónyuge tiene 65 años de edad o más). File an extension on my taxes Tarifa estándar por milla. File an extension on my taxes  La tarifa estándar por milla permitida para gastos de operación de un automóvil cuando se usa por razones médicas es 24 centavos por milla. File an extension on my taxes Vea Transporte bajo ¿Qué Gastos Médicos se Pueden Incluir?, más adelante. File an extension on my taxes Introduction Este capítulo le ayudará a determinar: Qué son gastos médicos. File an extension on my taxes Qué gastos puede incluir este año. File an extension on my taxes Qué cantidad de los gastos puede deducir. File an extension on my taxes De qué personas puede incluir gastos médicos. File an extension on my taxes Qué gastos médicos se pueden incluir. File an extension on my taxes Cómo tratar los reembolsos. File an extension on my taxes Cómo declarar la deducción en la declaración de impuestos. File an extension on my taxes Cómo declarar gastos de trabajo relacionados con la incapacidad. File an extension on my taxes Cómo declarar los costos del seguro médico si trabaja por cuenta propia. File an extension on my taxes Useful Items - You may want to see: Publicaciones 502 Medical and Dental Expenses (Gastos médicos y dentales), en inglés 969 Health Savings Accounts and Other Tax-Favored Health Plans (Cuentas de ahorros para gastos médicos y otros planes para gastos médicos con beneficios tributarios), en inglés Formularios (e Instrucciones) Anexo A (Formulario 1040) Itemized Deductions (Deducciones detalladas), en inglés ¿Qué Son Gastos Médicos? Los gastos médicos incluyen pagos por diagnóstico, cura, alivio, tratamiento o prevención de enfermedades o por tratamientos que afecten alguna parte o función del cuerpo. File an extension on my taxes Estos gastos abarcan los pagos por servicios médicos legales prestados por médicos, cirujanos, dentistas y otros profesionales de la salud. File an extension on my taxes Incluyen los costos de equipo, suministros y dispositivos de diagnósticos que se necesiten para estos propósitos. File an extension on my taxes Los gastos de cuidados médicos tienen que ser principalmente para aliviar o prevenir un defecto o enfermedad física o mental. File an extension on my taxes No incluya gastos que sean tan sólo beneficiosos para la salud en general, como vitaminas o vacaciones. File an extension on my taxes Los gastos médicos incluyen las primas pagadas por un seguro que cubra los gastos de cuidados médicos y las cantidades pagadas por transporte para recibir cuidados médicos. File an extension on my taxes Los gastos médicos también incluyen cantidades pagadas por servicios calificados de cuidados a largo plazo y cantidades limitadas pagadas por cualquier contrato de cuidados a largo plazo calificado. File an extension on my taxes ¿Qué Gastos Puede Incluir Este Año? Puede incluir sólo los gastos médicos y dentales que pagó este año, independientemente de cuándo se proveyeron los servicios. File an extension on my taxes Si paga gastos médicos por cheque, el día en que envíe o entregue el cheque suele ser la fecha de pago. File an extension on my taxes Si paga sus gastos médicos por medio de una “cuenta a pagar por teléfono” o Internet, la fecha indicada en el estado de cuentas de la institución financiera que señala cuándo se hizo el pago se considera la fecha de pago. File an extension on my taxes Si utiliza una tarjeta de crédito, incluya los gastos médicos que cargue a su tarjeta de crédito en el año en que se haga el cargo, no en el que de hecho pague el monto cargado a su tarjeta de crédito. File an extension on my taxes Declaraciones por separado. File an extension on my taxes   Si usted y su cónyuge viven en un estado donde no rigen las leyes de los bienes gananciales y presentan declaraciones por separado, cada uno de ustedes puede incluir sólo los gastos médicos que cada uno de hecho pagó. File an extension on my taxes Todos los gastos médicos pagados de una cuenta corriente conjunta en la cual son dueños por igual usted y su cónyuge se consideran pagados equitativamente por cada uno de ustedes, a menos que pueda demostrar lo contrario. File an extension on my taxes Estados donde rige la ley de los bienes gananciales. File an extension on my taxes   Si usted y su cónyuge viven en un estado donde rigen las leyes de los bienes gananciales y presentan declaraciones por separado o están inscritos como parejas de hecho en Nevada, Washington o California, todos los gastos médicos pagados de fondos de la comunidad conyugal se dividen por igual. File an extension on my taxes Cada uno de ustedes debería incluir la mitad de los gastos. File an extension on my taxes Si los gastos médicos se pagan de los fondos separados de un cónyuge, sólo el cónyuge que pagó los gastos médicos puede incluirlos. File an extension on my taxes Si usted vive en un estado donde rigen las leyes de los bienes gananciales, y no presenta una declaración conjunta, vea la Publicación 555, Community Property (Bienes gananciales), en inglés. File an extension on my taxes ¿Qué Cantidad de los Gastos Puede Deducir? Por lo general, puede deducir en el Anexo A (Formulario 1040) sólo la cantidad de sus gastos médicos y dentales que exceda del 10% (7. File an extension on my taxes 5% si usted o su cónyuge tiene 65 años de edad o más) de su ingreso bruto ajustado (AGI, por sus siglas en inglés) (línea 38 del Formulario 1040). File an extension on my taxes Ejemplo. File an extension on my taxes Usted no está casado, es menor de 65 años de edad y su ingreso bruto ajustado es $40,000. File an extension on my taxes El 10% de esa cantidad es $4,000. File an extension on my taxes Usted pagó gastos médicos de $2,500. File an extension on my taxes No puede deducir ningunos de sus gastos médicos porque éstos no son mayores que el 10% de su ingreso bruto ajustado. File an extension on my taxes ¿De Qué Personas Puede Incluir Gastos Médicos? Normalmente, puede incluir gastos médicos que pagó por usted mismo o por alguien que fuera su cónyuge o su dependiente cuando se proporcionaron los servicios o cuando usted los pagó. File an extension on my taxes Hay reglas distintas para personas fallecidas y personas nombradas en acuerdos de manutención múltiple. File an extension on my taxes Vea Manutención reclamada conforme a un acuerdo de manutención múltiple , más adelante. File an extension on my taxes Usted Puede incluir los gastos médicos que pagó por usted mismo. File an extension on my taxes Cónyuge Puede incluir los gastos médicos que pagó por su cónyuge. File an extension on my taxes Para incluir estos gastos, tiene que haber estado casado en el momento en que su cónyuge recibió los servicios médicos o en el momento en que usted los pagó. File an extension on my taxes Ejemplo 1. File an extension on my taxes María recibió tratamiento médico antes de casarse con Guillermo. File an extension on my taxes Guillermo pagó por el tratamiento después de casarse. File an extension on my taxes Guillermo puede incluir estos gastos al calcular su deducción por gastos médicos aunque Guillermo y María presenten declaraciones separadas. File an extension on my taxes Si María hubiera pagado los gastos, Guillermo no podría incluir los gastos de María en la declaración separada de él. File an extension on my taxes María incluiría las cantidades que ella pagó a lo largo del año en su declaración separada. File an extension on my taxes Si presentaran una declaración conjunta, los gastos médicos que ambos pagaron a lo largo del año se usarían para calcular la deducción de gastos médicos de ambos. File an extension on my taxes Ejemplo 2. File an extension on my taxes Este año, Juan pagó gastos médicos por su cónyuge Luisa, la cual murió el año pasado. File an extension on my taxes Juan se casó con Beatriz este año y presentan una declaración conjunta. File an extension on my taxes Debido a que Juan estaba casado con Luisa cuando ella recibió los servicios médicos, puede incluir esos gastos al calcular su deducción por gastos médicos correspondiente a este año. File an extension on my taxes Dependiente Puede incluir los gastos médicos que pagó por su dependiente. File an extension on my taxes Para incluir estos gastos, la persona tiene que haber sido su dependiente en el momento en que se proveyeron los servicios médicos o en el momento en que usted pagó los gastos. File an extension on my taxes Generalmente, una persona puede considerarse su dependiente para propósitos de la deducción de gastos médicos si se cumplen los dos requisitos siguientes: La persona era hijo calificado (definido más adelante) o pariente calificado (definido más adelante) y La persona era ciudadana o nacional de los Estados Unidos o era residente de los Estados Unidos, Canadá o México. File an extension on my taxes Si su hijo calificado fue adoptado, vea el tema que se presenta a continuación, Excepción por hijo adoptivo . File an extension on my taxes Puede incluir los gastos médicos que pagó a nombre de una persona que hubiera sido su dependiente, salvo que: Dicha persona recibió ingresos brutos de $3,900 o más en 2013, Dicha persona presentó una declaración conjunta para el año 2013 o Usted, o su cónyuge si presentan una declaración conjunta, puede ser reclamado como dependiente en la declaración de 2013 de otra persona. File an extension on my taxes Excepción por hijo adoptivo. File an extension on my taxes   Si usted es ciudadano o nacional estadounidense y su hijo adoptivo vivió con usted como miembro de su unidad familiar durante el año 2013, dicho hijo no tiene que ser ciudadano o nacional estadounidense ni ser residente de los Estados Unidos, Canadá o México. File an extension on my taxes Hijo Calificado Un hijo calificado es un hijo que: Es su hijo o hija, hijastro o hijastra, hijo de crianza, hermano o hermana, hermanastro o hermanastra, medio hermano o media hermana o descendiente de cualquiera de ellos (por ejemplo, su nieto, sobrino o sobrina), Tenía: Menos de 19 años de edad al final del año 2013 y era menor que usted (o su cónyuge, si presenta una declaración conjunta), Menos de 24 años de edad al final del año 2013, era estudiante de tiempo completo y menor que usted (o su cónyuge, si presenta una declaración conjunta) o Cualquier edad y estaba total y permanentemente incapacitado, Vivió con usted por más de la mitad del año 2013, No proveyó más de la mitad de su propia manutención durante el año 2013 y No presentó una declaración conjunta, a menos que la haya presentado únicamente para reclamar un reembolso. File an extension on my taxes Hijo adoptivo. File an extension on my taxes   Un hijo legalmente adoptado se considera su propio hijo. File an extension on my taxes Esto incluye a un hijo colocado legalmente bajo su cargo para adopción legal. File an extension on my taxes   Puede incluir los gastos médicos que pagó por un hijo antes de la adopción si el hijo reunía los requisitos para ser su dependiente cuando se proveyeron los servicios médicos o cuando se pagaron los gastos. File an extension on my taxes   Si reintegra a una agencia de adopciones o a otras personas los gastos médicos que ellas pagaron bajo un acuerdo con usted, es como si usted hubiera pagado dichos gastos con tal de que demuestre claramente que el pago es directamente atribuible al cuidado médico del hijo. File an extension on my taxes   Pero si usted paga a la agencia o a otra persona el cuidado médico que fue provisto y pagado antes de que empezaran las negociaciones de adopción, no los puede incluir como gastos médicos. File an extension on my taxes    Tal vez pueda tomar un crédito por otros gastos relacionados con la adopción. File an extension on my taxes Vea las Instrucciones para el Formulario 8839, Qualified Adoption Expenses (Gastos calificados de adopciones), en inglés, para más información. File an extension on my taxes Hijo de padres divorciados o separados. File an extension on my taxes   Para propósitos de la deducción de gastos médicos y dentales, un hijo de padres divorciados o separados puede considerarse dependiente de ambos padres. File an extension on my taxes Cada padre puede incluir los gastos médicos que él o ella pague por el hijo, aunque el otro padre declare la exención de dependencia del hijo, si: El hijo queda bajo la custodia de uno o ambos padres por más de la mitad del año, El hijo recibe más de la mitad de su manutención durante el año de sus padres y Los padres del hijo: Están divorciados o legalmente separados bajo un fallo de divorcio o de manutención por separación judicial, Están separados bajo un acuerdo de separación judicial escrito o Viven separados en todo momento durante los últimos 6 meses del año. File an extension on my taxes Esto no corresponde si la exención del hijo se reclama conforme a un acuerdo de manutención múltiple (explicado más adelante). File an extension on my taxes Pariente Calificado Un pariente calificado es una persona: Que es su: Hijo o hija, hijastro o hijastra, hijo de crianza o descendiente de cualquiera de ellos (por ejemplo, su nieto), Hermano o hermana, medio hermano o media hermana o un hijo de cualquiera de ellos, Padre, madre o antecesor o hermano o hermana de cualquiera de ellos (por ejemplo, su abuelo o abuela, o tío o tía), Hermanastro o hermanastra, padrastro, madrastra, yerno, nuera, suegro o suegra, cuñado o cuñada o Cualquier otra persona (que no sea su cónyuge) que haya vivido con usted durante todo el año como integrante de su unidad familiar si su relación no violó la ley local, Quien no era hijo calificado (vea Hijo Calificado , anteriormente) de cualquier otra persona para el año 2013 y Para la cual usted proveyó más de la mitad de la manutención del año 2013. File an extension on my taxes Pero vea Hijo de padres divorciados o separados , anteriormente, y Manutención reclamada conforme a un acuerdo de manutención múltiple, que aparece a continuación. File an extension on my taxes Manutención reclamada conforme a un acuerdo de manutención múltiple. File an extension on my taxes   Si se considera que usted proveyó más de la mitad de la manutención de un pariente conforme a un acuerdo de manutención múltiple, puede incluir los gastos médicos que pague por dicho pariente. File an extension on my taxes El acuerdo de manutención múltiple se usa cuando dos o más personas proveen más de la mitad de la manutención de una persona, pero ninguna persona sola provee más de la mitad. File an extension on my taxes   Todos los demás gastos médicos pagados por otras personas que firmaron con usted el acuerdo no pueden ser incluidos como gastos médicos por nadie. File an extension on my taxes Sin embargo, usted puede incluir la totalidad de la cantidad no reembolsada que usted pagó por concepto de gastos médicos. File an extension on my taxes Ejemplo. File an extension on my taxes Usted y sus tres hermanos proveen cada uno una cuarta parte del total de la manutención de su madre. File an extension on my taxes Conforme a un acuerdo de manutención múltiple, usted declara a su madre como su dependiente. File an extension on my taxes Usted pagó todos sus gastos médicos. File an extension on my taxes Sus hermanos le reembolsaron a usted las tres cuartas partes de dichos gastos. File an extension on my taxes Al calcular su deducción de gastos médicos, usted puede incluir sólo una cuarta parte de los gastos médicos de su madre. File an extension on my taxes Sus hermanos no pueden incluir ninguna parte de los gastos. File an extension on my taxes Sin embargo, si usted y sus hermanos comparten los gastos que no sean de manutención médica y usted paga por separado todos los gastos médicos de su madre, usted puede incluir la cantidad no reembolsada que pagó por concepto de gastos médicos en los gastos médicos de usted. File an extension on my taxes Difuntos Los gastos médicos que fueron pagados por el difunto antes de que falleciera se incluyen al calcular las deducciones por gastos médicos y dentales en la declaración de impuestos final sobre el ingreso del difunto. File an extension on my taxes Esto incluye gastos tanto para el cónyuge y los dependientes del difunto como para el mismo difunto. File an extension on my taxes El sobreviviente o representante personal de un difunto puede optar por tratar ciertos gastos médicos del difunto pagados por el caudal hereditario del mismo como si hubieran sido pagados por el difunto en el momento en que se le proveyeron los servicios médicos. File an extension on my taxes Los gastos se tienen que pagar dentro del plazo de 1 año a partir del día siguiente al día del fallecimiento. File an extension on my taxes Si usted es el sobreviviente o representante personal que elige esta opción, tendrá que adjuntar un documento escrito al Formulario 1040 del difunto (o la declaración enmendada del difunto, Formulario 1040X) explicando que los gastos no han sido y no serán declarados en la declaración del impuesto del caudal hereditario. File an extension on my taxes Los gastos médicos calificados que el difunto pagó antes de su muerte no son deducibles si fueron pagados por medio de una distribución exenta de impuestos proveniente de una cuenta Archer MSA de ahorros médicos, cuenta Medicare Advantage MSA u otra cuenta de ahorros para gastos médicos. File an extension on my taxes Las declaraciones enmendadas y reclamaciones de reembolsos se explican en el capítulo 1 . File an extension on my taxes ¿Y si usted paga gastos médicos de un cónyuge fallecido o un dependiente fallecido?   Si usted pagó gastos médicos para su cónyuge o dependiente fallecido, inclúyalos como gastos médicos en su Formulario 1040 en el año en que fueron pagados, independientemente de si se pagan antes o después de la muerte del difunto. File an extension on my taxes Los gastos pueden ser incluidos si la persona era su cónyuge o dependiente en el momento en que se proveyeron los servicios médicos o en el momento en que usted pagó los gastos. File an extension on my taxes ¿Qué Gastos Médicos se Pueden Incluir? Use la Tabla 21-1, anteriormente, como guía para determinar qué gastos médicos y dentales puede incluir en el Anexo A (Formulario 1040). File an extension on my taxes Esta tabla no abarca todos los gastos médicos en los que se puede incurrir. File an extension on my taxes Para determinar si un gasto no indicado en la tabla se puede incluir en el cálculo de la deducción por gastos médicos, vea la sección ¿Qué Son Gastos Médicos? , anteriormente. File an extension on my taxes Tabla 21-1. File an extension on my taxes Lista de Gastos Médicos y Dentales. File an extension on my taxes Vea la Publicación 502 para más información sobre estos gastos, entre otros. File an extension on my taxes Puede incluir: No puede incluir: Vendas Píldoras anticonceptivas recetadas por su médico Escaneo electrónico del cuerpo Libros en Braille Extractor de leche materna (sacaleches) y suministros relacionados Gastos de capital para equipo o mejoras a su vivienda que se necesitan para el cuidado médico (vea la hoja de trabajo de la Publicación 502, en inglés) Dispositivos de diagnóstico Gastos de un donante de órganos Cirugía ocular —para promover el funcionamiento correcto del ojo Ciertos procedimientos para aumentar la fertilidad Perros guía u otros animales de ayuda para personas ciegas, sordas o incapacitadas Cargos por servicios hospitalarios (pruebas de laboratorio, terapia, servicios de enfermería, cirugía, etc. File an extension on my taxes ) Eliminación de pintura a base de plomo Aborto legal Operación legal para evitar tener niños tal como una vasectomía o ligadura de trompas Contratos calificados del cuidado a largo plazo Comidas y alojamiento provistos por un hospital durante un tratamiento médico Cargos por servicios médicos (de médicos, dentistas, cirujanos, especialistas y otros profesionales médicos) Primas de la Parte D de Medicare Primas de seguros médicos y hospitalarios Servicios de enfermería Equipo de oxígeno y oxígeno Parte del cargo por cuidados de vida pagados a un hogar de ancianos designado para cuidados médicos Exámen físico Paquete para pruebas de embarazo Medicamentos recetados (por un médico) e insulina Tratamiento siquiátrico y sicológico Impuesto al Seguro Social, Impuesto al Medicare, prestaciones por desempleo (FUTA) e impuesto estatal sobre el salario de un trabajador que provee cuidados médicos (vea Salarios por servicios de enfermería, más adelante) Artículos especiales (piernas y brazos artificiales, dientes postizos, lentes (espejuelos), lentes de contacto, audífonos, muletas, sillas de ruedas, etc. File an extension on my taxes ) Educación especial para personas mental o físicamente incapacitadas Programas para dejar de fumar Transporte para cuidados médicos necesarios Tratamiento en un centro de rehabilitación para la adicción a drogas o alcohol (incluye las comidas y el alojamiento provistos por el centro) Salarios por servicios de enfermería Reducción de peso, ciertos gastos relacionados con la obesidad Cuidado infantil Agua embotellada Aportaciones hechas a una cuenta Archer MSA de ahorros médicos (vea la Publicación 969, en inglés) Servicio de pañales Gastos por concepto de su salud en general (aunque usted esté siguiendo los consejos de su médico) tales como: —La cuota de un club deportivo —Ayuda doméstica (incluso si es por recomendación de un médico) —Actividades sociales, tales como cursos de baile o de natación —Viaje para la mejora general de la salud Reembolsos de una cuenta para gastos médicos flexible (flexible spending account) (si las aportaciones fueron hechas antes de impuestos) Gastos de funeral, sepelio o cremación Pagos hechos a cuentas de ahorros para gastos médicos Operación, tratamiento o medicamento ilegal Pólizas de seguro de vida o de protección de ingresos, ni pólizas que proporcionen pagos en caso de pérdida de la vida, una extremidad, la vista, etc. File an extension on my taxes Ropa de maternidad Seguro médico incluido en una póliza de seguro de automóvil que cubra a todas las personas lesionadas en el automóvil o por el mismo Medicamentos que usted compre sin receta Cuidado de enfermería para un bebé que tenga buena salud Medicamentos recetados que usted trajo (o pidió por envío) de otro país, en la mayoría de los casos Suplementos nutritivos, vitaminas, suplementos a base de hierbas, “medicinas naturales”, etc. File an extension on my taxes , a menos que sean recomendados por un profesional médico como tratamiento para un padecimiento médico específico que haya sido diagnosticado por un médico Cirugía para propósitos puramente cosméticos Pasta de dientes, artículos de tocador, cosméticos, etc. File an extension on my taxes Blanqueamiento de dientes Gastos de reducción de peso que no sean para el tratamiento de la obesidad u otra enfermedad Primas de Seguros Puede incluir en los gastos médicos las primas que pague por pólizas de seguros que cubran los cuidados médicos. File an extension on my taxes Las pólizas de cuidados médicos pueden pagar por tratamientos que abarcan: Hospitalización, servicios de cirugía, radiografías, Medicamentos recetados e insulina, Cuidado dental, Reemplazo de lentes de contacto perdidos o dañados o Cuidados a largo plazo (sujetos a limitaciones adicionales). File an extension on my taxes Vea Qualified Long-Term Care Insurance Contracts (Contratos de seguro de cuidados a largo plazo calificados) en la Publicación 502, en inglés. File an extension on my taxes Si tiene una póliza que pague por cuidados que no sean médicos, puede incluir las primas por la parte de la póliza que corresponda a los cuidados médicos si el cargo por esta parte es razonable. File an extension on my taxes El costo de la parte médica se tiene que indicar por separado en el contrato del seguro o se le tiene que entregar a usted en un estado de cuentas por separado. File an extension on my taxes Nota: Al calcular la cantidad de primas de seguros que puede incluir en los gastos médicos en el Anexo A, no incluya ningún pago adelantado del crédito tributario por cobertura del seguro médico que aparezca en el recuadro 1 del Formulario 1099-H, Health Coverage Tax Credit (HCTC) Advance Payments (Pagos adelantados del crédito tributario por cobertura de seguro médico (HCTC, por sus siglas en inglés)). File an extension on my taxes Además, no incluya las primas de seguro que corresponden a un hijo no dependiente menor de 27 años de edad si sus primas aumentaron como resultado de incluir a este hijo en su póliza. File an extension on my taxes Plan de seguro médico provisto por el empleador. File an extension on my taxes   No incluya en sus gastos médicos y dentales ninguna prima de seguro pagada por un plan de seguro médico provisto por el empleador a menos que las primas se incluyan en el recuadro 1 del Formulario W-2. File an extension on my taxes Además, no incluya ningún otro gasto médico o dental pagado por dicho plan a menos que la cantidad pagada se incluya en el recuadro 1 del Formulario W-2. File an extension on my taxes Ejemplo. File an extension on my taxes Usted es empleado federal que participa en el plan de conversión de primas del programa de Federal Employee Health Benefits o FEHB, por sus siglas en inglés (Beneficios de salud para empleados federales). File an extension on my taxes Su parte de la prima del FEHB se paga mediante una reducción de su salario antes de imponerle impuestos. File an extension on my taxes Como usted es un empleado cuyas primas de seguro se pagan con dinero que nunca se incluye en sus ingresos brutos, no puede deducir las primas que fueron pagadas con dicho dinero. File an extension on my taxes Servicios de cuidado a largo plazo. File an extension on my taxes   Las aportaciones hechas por su empleador para proveer cobertura por servicios de cuidados a largo plazo calificados bajo una cuenta para gastos médicos flexible, o cuenta similar, tienen que ser incluidas en sus ingresos. File an extension on my taxes Esta cantidad será declarada como salario en el recuadro 1 del Formulario W-2. File an extension on my taxes Plan de reembolso de gastos médicos. File an extension on my taxes   Si tiene gastos médicos que son reembolsados por un plan de reembolso de gastos médicos (HRA, por sus siglas en inglés), no puede incluirlos en sus gastos médicos. File an extension on my taxes Esto se debe a que un HRA es financiado únicamente por el empleador. File an extension on my taxes Funcionarios jubilados del sector de seguridad pública. File an extension on my taxes   Si usted es funcionario jubilado de seguridad pública, no incluya como gastos médicos ninguna prima de un seguro médico o de cuidados a largo plazo si eligió que dicha prima se pagara con distribuciones exentas de impuestos procedentes de su plan de jubilación. File an extension on my taxes Esto corresponde solamente a distribuciones que de otro modo se incluirían en los ingresos. File an extension on my taxes Medicare A. File an extension on my taxes   Si está cubierto bajo el Seguro Social (o si es empleado del gobierno que pagó el impuesto del Medicare), está inscrito en el Medicare A. File an extension on my taxes El impuesto sobre la nómina pagado para el Medicare A no es gasto médico. File an extension on my taxes   Si no está cubierto bajo el Seguro Social (o si no es empleado del gobierno que pagó el impuesto del Medicare), puede inscribirse voluntariamente en el Medicare A. File an extension on my taxes En esta situación, puede incluir las primas pagadas por concepto de Medicare A como gasto médico. File an extension on my taxes Medicare B. File an extension on my taxes    Medicare B es un seguro médico suplementario. File an extension on my taxes Las primas que paga por concepto del Medicare B son un gasto médico. File an extension on my taxes Verifique la información que recibió de la Administración del Seguro Social para averiguar la prima correspondiente. File an extension on my taxes Medicare D. File an extension on my taxes    Medicare D es un programa voluntario de seguro para medicamentos recetados dirigido a personas con Medicare A o B. File an extension on my taxes Puede incluir las primas que pague por el Medicare D como un gasto médico. File an extension on my taxes Primas de seguros pagadas por adelantado. File an extension on my taxes   Las primas que pague antes de cumplir 65 años de edad por seguros de cuidados médicos a nombre de usted, su cónyuge o sus dependientes después de que usted alcance la edad de 65 años son gastos de cuidados médicos en el año en que se pagan si son: Pagaderas en plazos anuales fijos, o plazos más frecuentes y Pagaderas por al menos 10 años, o hasta que cumpla 65 años de edad (pero no por menos de 5 años). File an extension on my taxes Licencia por enfermedad sin usar para pagar primas. File an extension on my taxes   Tiene que incluir en los ingresos brutos los pagos en efectivo que reciba a la fecha de jubilarse por licencia de enfermedad que no haya usado. File an extension on my taxes También tiene que incluir en los ingresos brutos el valor de la licencia sin usar que, según usted elija, su empleador utiliza para cubrir el costo de su participación continuada en el plan de salud del empleador después de jubilarse. File an extension on my taxes Puede incluir este costo de participación continuada en el plan médico como gasto médico. File an extension on my taxes   Si participa en un plan de salud en el que su empleador utiliza automáticamente el valor de la licencia por enfermedad sin usar para cubrir el costo de su participación continuada en el plan de salud (y usted no tiene la opción de recibir dinero en efectivo), no incluya el valor de la licencia por enfermedad sin usar en los ingresos brutos. File an extension on my taxes No puede incluir este costo de su participación continuada en dicho plan de salud como gasto médico. File an extension on my taxes Comidas y Alojamiento Puede incluir en los gastos médicos el costo de comidas y alojamiento en un hospital o institución parecida si el motivo principal para estar allí es recibir cuidados médicos. File an extension on my taxes Vea Hogar de ancianos y de convalecencia , más adelante. File an extension on my taxes Tal vez pueda incluir en los gastos médicos el costo de alojamiento que no sea en un hospital o institución semejante. File an extension on my taxes Puede incluir el costo de tal alojamiento mientras esté lejos de su casa si se reúnen todos los siguientes requisitos: El alojamiento es principal y esencialmente para fines de cuidado médico. File an extension on my taxes El cuidado médico lo provee un médico de un hospital autorizado o de un centro médico asociado con un hospital autorizado o equivalente al mismo. File an extension on my taxes El alojamiento no es lujoso ni extravagante, dadas las circunstancias. File an extension on my taxes El placer personal, el recreo o las vacaciones no son factores significativos de la estadía fuera de su hogar. File an extension on my taxes La cantidad que incluya en los gastos médicos por concepto de alojamiento no puede ser mayor de $50 por cada noche por persona. File an extension on my taxes Puede incluir el alojamiento para una persona que viaje con la persona que recibe el cuidado médico. File an extension on my taxes Por ejemplo, si un padre o una madre viaja con un hijo enfermo, se pueden incluir hasta $100 por noche como gasto médico por alojamiento. File an extension on my taxes No se incluyen comidas. File an extension on my taxes Hogar de ancianos y de convalecencia. File an extension on my taxes   Puede incluir en los gastos médicos el costo del cuidado médico en un hogar de ancianos y de convalecencia, residencia de ancianos o un centro similar para usted, su cónyuge o sus dependientes. File an extension on my taxes Esto incluye el costo de comidas y alojamiento en el hogar o residencia si un motivo principal para estar allí es recibir cuidado médico. File an extension on my taxes   No incluya el costo de comidas y alojamiento si el motivo para estar en el hogar o residencia es personal. File an extension on my taxes Puede, sin embargo, incluir en los gastos médicos la parte del costo que corresponda al cuidado médico o de convalecencia. File an extension on my taxes Transporte Incluya en los gastos médicos cantidades pagadas por transporte si es principal y esencialmente para fines de cuidados médicos. File an extension on my taxes Puede incluir: Tarifas de autobús, taxi, tren o avión o servicios de ambulancia, Gastos de transporte de un padre o una madre que tiene que acompañar a un hijo que necesita cuidado médico, Gastos de transporte de una enfermera u otra persona que pueda poner inyecciones, suministrar medicamentos u otro tratamiento necesario para un paciente que viaje para recibir cuidado médico y que no pueda viajar solo y Gastos de transporte por visitas regulares a un dependiente que tenga una enfermedad mental, si dichas visitas son recomendadas como parte de su tratamiento. File an extension on my taxes Gastos de automóvil. File an extension on my taxes   Puede incluir gastos de bolsillo, tal como el costo de gasolina y aceite, cuando use su automóvil por razones médicas. File an extension on my taxes No puede incluir depreciación, seguro, reparaciones generales ni gastos de mantenimiento. File an extension on my taxes   Si no desea usar los gastos reales para el año 2013, puede usar una tarifa estándar de 24 centavos. File an extension on my taxes    También, puede incluir cargos por estacionamiento y peaje. File an extension on my taxes Puede añadir estos cargos a sus gastos médicos independientemente de si usa los gastos reales o la tarifa estándar por milla. File an extension on my taxes Ejemplo. File an extension on my taxes En 2013, Guillermo Martínez manejó 2,800 millas por razones médicas. File an extension on my taxes Gastó $500 en gasolina, $30 en aceite y $100 en peajes y estacionamiento. File an extension on my taxes Quiere calcular la cantidad que puede incluir en gastos médicos de ambas maneras para ver cuál de las dos le da la mayor deducción. File an extension on my taxes Calcula primero los gastos reales. File an extension on my taxes Suma los $500 por gasolina, $30 por aceite y $100 por peaje y estacionamiento, lo que da un total de $630. File an extension on my taxes Luego, Guillermo calcula la cantidad de la tarifa estándar por milla. File an extension on my taxes Multiplica las 2,800 millas por 24 centavos por milla y llega a un total de $672. File an extension on my taxes Luego, añade los $100 por peaje y estacionamiento, lo que da un total de $772. File an extension on my taxes Guillermo incluye los gastos de automóvil de $772 con sus demás gastos médicos para el año, ya que $772 es más que los $630 que calculó usando sus gastos reales. File an extension on my taxes Gastos de transporte que no puede incluir. File an extension on my taxes   No puede incluir en los gastos médicos el costo de los gastos de transporte en las siguientes situaciones: Ida y vuelta del trabajo, aun si su condición exije un medio de transporte poco común. File an extension on my taxes Viajes por motivos puramente personales a otra ciudad para una operación u otros cuidados médicos. File an extension on my taxes Viajes que son únicamente para mejorar la salud en general. File an extension on my taxes Los costos de operar un automóvil especialmente equipado por motivos que no sean médicos. File an extension on my taxes Gastos del Cuidado de un Dependiente Incapacitado Algunos gastos de cuidado de un dependiente incapacitado podrían reunir los requisitos para ser: Gastos médicos o Gastos relacionados con el empleo para reclamar un crédito por el cuidado de dependientes. File an extension on my taxes (Vea el capítulo 32 y la Publicación 503, Child and Dependent Care Expenses (Gastos del cuidado de menores y dependientes), en inglés). File an extension on my taxes Puede escoger aplicarlos de una u otra manera siempre que no use los mismos gastos para reclamar tanto un crédito como una deducción por gastos médicos. File an extension on my taxes ¿Cómo se Tratan los Reembolsos? Puede incluir en los gastos médicos únicamente las cantidades pagadas durante el año tributario para las cuales no recibió ningún reembolso de seguros ni de otro tipo. File an extension on my taxes Reembolso de Seguros Tiene que deducir del total de sus gastos médicos incurridos durante el año todos los reembolsos de gastos médicos que reciba de seguros u otras fuentes a lo largo del año. File an extension on my taxes Esto incluye los pagos de Medicare. File an extension on my taxes Aun si una póliza provee reembolso sólo por ciertos gastos médicos específicos, tiene que restar las cantidades que reciba de esa póliza del total de sus gastos médicos, incluyendo aquéllos que dicha póliza no reembolsa. File an extension on my taxes Ejemplo. File an extension on my taxes Usted tiene pólizas de seguros que cubren sus facturas de hospital y de médicos pero no sus facturas de cuidados de enfermería. File an extension on my taxes El pago que recibe del seguro para cubrir las facturas del hospital y de médico es superior a lo que le cobraron. File an extension on my taxes Al calcular su deducción médica, tiene que deducir de la cantidad total que gastó en cuidados médicos la cantidad total que recibió del seguro aun si las pólizas no cubren algunos de sus gastos médicos. File an extension on my taxes Plan (arreglo) de reembolso de gastos médicos. File an extension on my taxes   Un plan (arreglo) de reembolsos médicos (HRA, por sus siglas en inglés) es un plan establecido con fondos del empleador que reembolsa gastos de cuidados médicos a los empleados y permite trasladar al año siguiente cantidades no usadas. File an extension on my taxes Un plan HRA es financiado sólo por el empleador y los reembolsos por gastos médicos (hasta una cantidad máxima de dinero por período de cobertura) no se incluyen en sus ingresos. File an extension on my taxes Otros reembolsos. File an extension on my taxes   Por lo general, no se deduce de los gastos médicos la cantidad de los pagos que recibe por concepto de: La pérdida permanente o la pérdida del uso de un miembro o función del cuerpo (pérdida de una extremidad, vista, oído, etc. File an extension on my taxes ) o la desfiguración, siempre y cuando el pago se base en la naturaleza de la lesión, independientemente de cuánto tiempo esté ausente del trabajo o La pérdida de ingresos. File an extension on my taxes   Sin embargo, tiene que deducir de sus gastos médicos la parte de esos pagos que esté destinada a costos médicos. File an extension on my taxes Vea Cómo Calcular y Reclamar la Deducción en su Declaración de Impuestos , más adelante. File an extension on my taxes   Para saber cómo tratar las indemnizaciones recibidas por lesiones personales o enfermedad, vea Indemnizaciones por Lesiones Personales , más adelante. File an extension on my taxes No tiene una deducción médica si se le reembolsan todos sus gastos médicos del año. File an extension on my taxes Reembolso en exceso. File an extension on my taxes   Si se le reembolsa más de sus gastos médicos, podría verse obligado a incluir el excedente en los ingresos. File an extension on my taxes Puede utilizar la Figura 21-A como guía para decidir si alguna parte de su reembolso está sujeta a impuestos. File an extension on my taxes Primas pagadas por usted. File an extension on my taxes   Tiene un reembolso en exceso si paga la totalidad de la prima de su seguro médico, o todos los costos de un plan similar, y los pagos de seguro u otros reembolsos son mayores al total de los gastos médicos del año. File an extension on my taxes Generalmente no se incluye un reembolso en exceso en el ingreso bruto. File an extension on my taxes Primas pagadas por usted y su empleador. File an extension on my taxes   Si tanto usted como su empleador contribuyen a su plan de seguro médico y las aportaciones de su empleador no están incluidas en su ingreso bruto, tiene que incluir en su ingreso bruto la parte del reembolso en exceso contribuida por su empleador. File an extension on my taxes   Vea la Publicación 502, en inglés, para calcular el monto del reembolso en exceso que tiene que incluir en su ingreso bruto. File an extension on my taxes Reembolso en un año posterior. File an extension on my taxes   Si se le reembolsan en un año posterior los gastos médicos que dedujo en un año anterior, normalmente tiene que declarar el reembolso como ingreso hasta la cantidad que dedujo anteriormente por gastos médicos. File an extension on my taxes   No obstante, no declare como ingresos el reembolso que recibió, hasta la cantidad de deducciones médicas que no redujeron su impuesto del año anterior. File an extension on my taxes Para más información sobre la recuperación de una cantidad que declaró como deducción detallada en un año anterior, vea Recuperaciones de Deducciones Detalladas , en el capítulo 12. File an extension on my taxes    Figura 21-A. File an extension on my taxes ¿Es Tributable su Reembolso Médico en Exceso? Please click here for the text description of the image. File an extension on my taxes Figura 21−A. File an extension on my taxes ¿Es Tributable su Reembolso Médico en Exceso? Gastos médicos no deducidos. File an extension on my taxes   Si no dedujo un gasto médico en el año en que lo pagó porque sus gastos médicos no fueron más del 10% de su ingreso bruto ajustado (7. File an extension on my taxes 5% si usted o su cónyuge tiene 65 años de edad o más) o porque no detalló las deducciones, no incluya en sus ingresos el reembolso hasta el máximo de la cantidad del gasto. File an extension on my taxes No obstante, si el reembolso es mayor que el gasto, vea Reembolso en exceso , anteriormente. File an extension on my taxes Ejemplo. File an extension on my taxes En 2013, usted no estuvo casado, era menor de 65 años de edad y tuvo gastos médicos de $500. File an extension on my taxes No puede deducir los $500 porque es menos del 10% de su ingreso bruto ajustado. File an extension on my taxes Si, en un año posterior, se le reembolsa alguna parte de los $500 en gastos médicos, entonces usted no incluye esa cantidad en su ingreso bruto. File an extension on my taxes Indemnizaciones por Lesiones Personales Si recibe una indemnización en una demanda por lesiones personales, parte de esa indemnización podría corresponder a gastos médicos que dedujo en un año anterior. File an extension on my taxes De ser así, tiene que incluir esa parte en sus ingresos del año en el que la recibe en la medida en que dicha cantidad redujo sus ingresos tributables en el año anterior. File an extension on my taxes Vea Reembolso en un año posterior , presentado anteriormente bajo ¿Cómo se Tratan los Reembolsos? Gastos médicos futuros. File an extension on my taxes   Si recibe una indemnización por lesiones personales en una demanda por daños y perjuicios, parte de dicha indemnización podría estar destinada a futuros gastos médicos. File an extension on my taxes De ser así, tiene que reducir todos los gastos médicos futuros en los que incurra por esas lesiones hasta que se agote la cantidad que recibió. File an extension on my taxes Cómo Calcular y Reclamar la Deducción en su Declaración de Impuestos Una vez que haya determinado qué gastos médicos puede incluir, calcule y declare la deducción en su declaración de impuestos. File an extension on my taxes ¿Qué Formulario Debe Usar para la Declaración? Calcule la deducción por gastos médicos en el Anexo A (Formulario 1040). File an extension on my taxes No puede declarar gastos médicos en el Formulario 1040A ni en el Formulario 1040EZ. File an extension on my taxes Si necesita más información sobre las deducciones detalladas o no está seguro de poder detallar sus deducciones, vea el capítulo 20 de esta publicación. File an extension on my taxes Anote la cantidad que pagó por gastos médicos y dentales en el Anexo A (Formulario 1040). File an extension on my taxes Esta cantidad debería ser los gastos que no fueron reembolsados por seguros o alguna otra fuente. File an extension on my taxes Por lo general, puede deducir únicamente la cantidad de sus gastos médicos y dentales que sea más del 10% de su ingreso bruto ajustado (7. File an extension on my taxes 5% si usted o su cónyuge tiene 65 años de edad o más), el cual se encuentra en la línea 38 del Formulario 1040. File an extension on my taxes Gastos de Trabajo Relacionados con un Impedimento Si usted es una persona con una discapacidad, puede tomar una deducción de gastos de negocio que sean necesarios para poder trabajar. File an extension on my taxes Si toma una deducción de estos gastos de negocio relacionados con un impedimento, no reclame una deducción médica por los mismos gastos. File an extension on my taxes Usted tiene una discapacidad si tiene: Una discapacidad física o mental (por ejemplo, ceguera o sordera) que lo limite funcionalmente para trabajar o Un impedimento físico o mental (por ejemplo, un impedimento de la vista o del oído) que limita considerablemente una o más de las actividades importantes de su vida, como llevar a cabo tareas manuales, caminar, hablar, respirar, aprender o trabajar. File an extension on my taxes Definición de gastos de trabajo relacionados con un impedimento. File an extension on my taxes   Los “gastos de trabajo relacionados con un impedimento” son los gastos de negocio habituales y necesarios que: Son necesarios para que usted haga su trabajo de modo satisfactorio, Son para bienes y servicios que no se exigen ni se usan, salvo de manera imprevista, en sus actividades personales y No están cubiertos por otras leyes que rigen el impuesto sobre el ingreso. File an extension on my taxes Dónde se anota la deducción. File an extension on my taxes   Si trabaja por cuenta propia, deduzca los gastos de negocio en el formulario correspondiente (Anexo C, C-EZ, E o F) para declarar ingresos y gastos de negocio. File an extension on my taxes   Si es empleado, llene el Formulario 2106, Employee Business Expenses (Gastos de negocio del empleado), o el Formulario 2106-EZ, Unreimbursed Employee Business Expenses (Gastos de negocio del empleado no reembolsados), ambos en inglés. File an extension on my taxes Anote en el Anexo A (Formulario 1040) la parte de la cantidad del Formulario 2106, o el Formulario 2106-EZ, relacionada con su impedimento. File an extension on my taxes Anote la cantidad que no esté relacionada con su impedimento en el Anexo A (Formulario 1040). File an extension on my taxes Los gastos de trabajo relacionados con un impedimento no están sujetos al límite del 2% del ingreso bruto ajustado que corresponde a otros gastos de negocio del empleado. File an extension on my taxes Ejemplo. File an extension on my taxes Usted es ciego. File an extension on my taxes Necesita un lector para realizar su trabajo. File an extension on my taxes Tiene que servirse del lector tanto durante sus horas normales de trabajo en su lugar de trabajo como fuera de dicho lugar y horario. File an extension on my taxes Los servicios del lector son únicamente para su trabajo. File an extension on my taxes Puede deducir sus gastos por los servicios del lector como gastos de negocio. File an extension on my taxes Costos del Seguro Médico para Personas que Trabajan por Cuenta Propia Si usted trabajó por cuenta propia y tuvo una utilidad neta ese año, es posible que pueda deducir, como un ajuste a sus ingresos, las cantidades pagadas por seguro médico y seguro de cuidado a largo plazo calificado para usted, su cónyuge, sus dependientes y sus hijos menores de 27 años de edad a finales del año 2013. File an extension on my taxes Para ese fin, se considera que trabajó por cuenta propia si fue socio general (o socio en una sociedad limitada y recibía pagos garantizados) o recibió un salario de una sociedad anónima de tipo S en la que tenía una participación como accionista de más del 2%. File an extension on my taxes El plan de seguros debe estar a nombre de su ocupación o negocio y la deducción no puede ser mayor que su ingreso del trabajo procedente de dicha ocupación o negocio. File an extension on my taxes No puede deducir pagos por seguro médico por ningún mes en el que haya cumplido los requisitos para participar en algún plan de salud subvencionado por su empleador, el empleador de su cónyuge o el empleador de su dependiente o de su hijo menor de 27 años de edad a finales del año 2013. File an extension on my taxes No puede deducir pagos por un contrato de cuidados a largo plazo en ningún mes en el que haya cumplido los requisitos para participar en algún plan de seguro por cuidados a largo plazo subvencionado por su empleador o el empleador de su cónyuge. File an extension on my taxes Si reúne los requisitos para reclamar la deducción, use la Self-Employed Health Insurance Deduction Worksheet (Hoja de trabajo para deducciones del seguro médico para personas que trabajan por cuenta propia) de las Instrucciones del Formulario 1040, en inglés, para calcular la cantidad que puede deducir. File an extension on my taxes Pero si corresponde alguno de los siguientes puntos, no use dicha hoja de trabajo: Tuvo más de una fuente de ingresos sujeta al impuesto sobre el trabajo por cuenta propia. File an extension on my taxes Presenta el Formulario 2555, Foreign Earned Income (Ingreso devengado en el extranjero) o el Formulario 2555-EZ, Foreign Earned Income Exclusion (Exclusión de ingreso devengado en el extranjero), ambos en inglés. File an extension on my taxes Calcula la deducción usando cantidades pagadas por un seguro de cuidados a largo plazo calificado. File an extension on my taxes Si no puede usar la hoja de trabajo de las Instrucciones del Formulario 1040, use la hoja de trabajo de la Publicación 535, Business Expenses (Gastos de negocio), en inglés, para calcular su deducción. File an extension on my taxes Nota: Al calcular la cantidad que puede deducir por primas de seguros, no incluya ningún pago adelantado que aparezca en el Formulario 1099-H, Health Coverage Tax Credit (HCTC) Advance Payments (Pagos adelantados del crédito tributario por cobertura de seguro médico (HCTC, por sus siglas en inglés)). File an extension on my taxes Asimismo, si reclama el crédito tributario por cobertura de seguro médico, reste la cantidad que aparece en el Formulario 8885, en inglés, del total de las primas de seguros que pagó. File an extension on my taxes No incluya cantidades pagadas por cobertura de seguro médico si dichas cantidades se pagaron con distribuciones de un plan de jubilación que estaban exentas de impuestos porque usted es funcionario de seguridad pública jubilado. File an extension on my taxes Dónde se anota la deducción. File an extension on my taxes    Haga esta deducción en el Formulario 1040. File an extension on my taxes Si detalla sus deducciones y no declara en el Formulario 1040 el 100% de su seguro médico para personas que trabajan por cuenta propia, generalmente puede incluir las demás primas con todos los demás gastos médicos en el Anexo A (Formulario 1040), sujetos al límite del 10% (7. File an extension on my taxes 5% si usted o su cónyuge tiene 65 años de edad o más). File an extension on my taxes Vea el tema titulado “Self-Employed Health Insurance Deduction” (Deducción del seguro de salud de la persona que trabaja por cuenta propia), en el capítulo 6 de la Publicación 535, Business Expenses (Gastos de negocio), y el tema titulado “Medical and Dental Expenses” (Gastos médicos y dentales), en las Instrucciones para el Anexo A (Formulario 1040), ambos disponibles en inglés, para más información. File an extension on my taxes Prev  Up  Next   Home   More Online Publications
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African Development Foundation

The African Development Foundation provides grants to community groups and small enterprises that benefit under-served and marginalized groups in Africa.

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The File An Extension On My Taxes

File an extension on my taxes Publication 514 - Main Content Table of Contents Choosing To Take Credit or DeductionChoice Applies to All Qualified Foreign Taxes Making or Changing Your Choice Why Choose the Credit?Credit for Taxes Paid or Accrued Foreign Currency and Exchange Rates Foreign Tax Redetermination Who Can Take the Credit?U. File an extension on my taxes S. File an extension on my taxes Citizens Resident Aliens Nonresident Aliens What Foreign Taxes Qualify for the Credit?Tax Must Be Imposed on You You Must Have Paid or Accrued the Tax Tax Must Be the Legal and Actual Foreign Tax Liability Tax Must Be an Income Tax (or Tax in Lieu of Income Tax) Foreign Taxes for Which You Cannot Take a CreditTaxes on Excluded Income Taxes for Which You Can Only Take an Itemized Deduction Taxes on Foreign Mineral Income Taxes From International Boycott Operations Taxes on Combined Foreign Oil and Gas Income Taxes of U. File an extension on my taxes S. File an extension on my taxes Persons Controlling Foreign Corporations and Partnerships Taxes Related to a Foreign Tax Credit Splitting Event How To Figure the CreditLimit on the Credit Separate Limit Income Allocation of Foreign Taxes Foreign Taxes From a Partnership or an S Corporation Figuring the Limit Qualified Dividends Capital Gains and Losses Allocation of Foreign and U. File an extension on my taxes S. File an extension on my taxes Losses Tax Treaties Carryback and CarryoverTime Limit on Tax Assessment Claim for Refund Taxes All Credited or All Deducted Married Couples How To Claim the CreditForm 1116 Records To Keep Simple Example — Filled-In Form 1116Part I—Taxable Income or Loss From Sources Outside the United States (for Category Checked Above) Part II—Foreign Taxes Paid or Accrued Part III—Figuring the Credit Part IV—Summary of Credits From Separate Parts III Comprehensive Example — Filled-In Form 1116Foreign earned income. File an extension on my taxes Employee business expenses. File an extension on my taxes Forms 1116 Computation of Taxable Income Part I—Taxable Income or Loss From Sources Outside the United States (for Category Checked Above) Part II—Foreign Taxes Paid or Accrued Part III—Figuring the Credit Part IV—Summary of Credits From Separate Parts III Unused Foreign Taxes How To Get Tax HelpLow Income Taxpayer Clinics Choosing To Take Credit or Deduction You can choose whether to take the amount of any qualified foreign taxes paid or accrued during the year as a foreign tax credit or as an itemized deduction. File an extension on my taxes You can change your choice for each year's taxes. File an extension on my taxes To choose the foreign tax credit, in most cases you must complete Form 1116 and attach it to your U. File an extension on my taxes S. File an extension on my taxes tax return. File an extension on my taxes However, you may qualify for the exception that allows you to claim the foreign tax credit without using Form 1116. File an extension on my taxes See How To Figure the Credit , later. File an extension on my taxes To choose to claim the taxes as an itemized deduction, use Schedule A (Form 1040), Itemized Deductions. File an extension on my taxes Figure your tax both ways—claiming the credit and claiming the deduction. File an extension on my taxes Then fill out your return the way that benefits you more. File an extension on my taxes See Why Choose the Credit, later. File an extension on my taxes Choice Applies to All Qualified Foreign Taxes As a general rule, you must choose to take either a credit or a deduction for all qualified foreign taxes. File an extension on my taxes If you choose to take a credit for qualified foreign taxes, you must take the credit for all of them. File an extension on my taxes You cannot deduct any of them. File an extension on my taxes Conversely, if you choose to deduct qualified foreign taxes, you must deduct all of them. File an extension on my taxes You cannot take a credit for any of them. File an extension on my taxes See What Foreign Taxes Qualify for the Credit , later, for the meaning of qualified foreign taxes. File an extension on my taxes There are exceptions to this general rule, which are described next. File an extension on my taxes Exceptions for foreign taxes not allowed as a credit. File an extension on my taxes   Even if you claim a credit for other foreign taxes, you can deduct any foreign tax that is not allowed as a credit if: You paid the tax to a country for which a credit is not allowed because it provides support for acts of international terrorism, or because the United States does not have or does not conduct diplomatic relations with it or recognize its government and that government is not otherwise eligible to purchase defense articles or services under the Arms Export Control Act, You paid withholding tax on dividends from foreign corporations whose stock you did not hold for the required period of time, You paid withholding tax on income or gain (other than dividends) from property you did not hold for the required period of time, You paid withholding tax on income or gain to the extent you had to make related payments on positions in substantially similar or related property, You participated in or cooperated with an international boycott, You paid taxes in connection with the purchase or sale of oil or gas, or You paid or accrued taxes on income or gain in connection with a covered asset acquisition. File an extension on my taxes Covered asset acquisitions include certain acquisitions that result in a stepped-up basis for U. File an extension on my taxes S. File an extension on my taxes tax purposes. File an extension on my taxes For more information, see Internal Revenue Code section 901(m). File an extension on my taxes The IRS intends to issue guidance that will explain this provision in greater detail. File an extension on my taxes   For more information on these items, see Taxes for Which You Can Only Take an Itemized Deduction , later, under Foreign Taxes for Which You Cannot Take a Credit. File an extension on my taxes Foreign taxes that are not income taxes. File an extension on my taxes   In most cases, only foreign income taxes qualify for the foreign tax credit. File an extension on my taxes Other taxes, such as foreign real and personal property taxes, do not qualify. File an extension on my taxes But you may be able to deduct these other taxes even if you claim the foreign tax credit for foreign income taxes. File an extension on my taxes   In most cases, you can deduct these other taxes only if they are expenses incurred in a trade or business or in the production of income. File an extension on my taxes However, you can deduct foreign real property taxes that are not trade or business expenses as an itemized deduction on Schedule A (Form 1040). File an extension on my taxes Carrybacks and carryovers. File an extension on my taxes   There is a limit on the credit you can claim in a tax year. File an extension on my taxes If your qualified foreign taxes exceed the credit limit, you may be able to carry over or carry back the excess to another tax year. File an extension on my taxes If you deduct qualified foreign taxes in a tax year, you cannot use a carryback or carryover in that year. File an extension on my taxes That is because you cannot take both a deduction and a credit for qualified foreign taxes in the same tax year. File an extension on my taxes   For more information on the limit, see How To Figure the Credit , later. File an extension on my taxes For more information on carrybacks and carryovers, see Carryback and Carryover , later. File an extension on my taxes Making or Changing Your Choice You can make or change your choice to claim a deduction or credit at any time during the period within 10 years from the regular due date for filing the return (without regard to any extension of time to file) for the tax year in which the taxes were actually paid or accrued. File an extension on my taxes You make or change your choice on your tax return (or on an amended return) for the year your choice is to be effective. File an extension on my taxes Example. File an extension on my taxes You paid foreign taxes for the last 13 years and chose to deduct them on your U. File an extension on my taxes S. File an extension on my taxes income tax returns. File an extension on my taxes You were timely in both filing your returns and paying your U. File an extension on my taxes S. File an extension on my taxes tax liability. File an extension on my taxes In February 2013, you file an amended return for tax year 2002 choosing to take a credit for your 2002 foreign taxes because you now realize that the credit is more advantageous than the deduction for that year. File an extension on my taxes Because the regular due date of your 2002 return was April 15, 2003, this choice is timely (within 10 years). File an extension on my taxes Because there is a limit on the credit for your 2002 foreign tax, you have unused 2002 foreign taxes. File an extension on my taxes Ordinarily, you first carry back unused foreign taxes arising in 2002 to, and claim them as a credit in, the 2 preceding tax years. File an extension on my taxes If you are unable to claim all of them in those 2 years, you carry them forward to the 10 years following the year in which they arose. File an extension on my taxes Because you originally chose to deduct your foreign taxes and the 10-year period for changing the choice for 2000 and 2001 has passed, you cannot change your choice and carry the unused 2002 foreign taxes back to tax years 2000 and 2001. File an extension on my taxes Because the 10-year periods for changing the choice have not passed for your 2003 through 2012 income tax returns, you can still choose to claim the credit for those years and carry forward any unused 2002 foreign taxes. File an extension on my taxes However, you must reduce the unused 2002 foreign taxes that you carry forward by the amount that would have been allowed as a carryback if you had timely carried back the foreign tax to tax years 2000 and 2001. File an extension on my taxes You cannot take a credit or a deduction for foreign taxes paid on income you exclude under the foreign earned income exclusion or the foreign housing exclusion. File an extension on my taxes See Foreign Earned Income and Housing Exclusions under Foreign Taxes for Which You Cannot Take a Credit, later. File an extension on my taxes Why Choose the Credit? The foreign tax credit is intended to relieve you of a double tax burden when your foreign source income is taxed by both the United States and the foreign country. File an extension on my taxes In most cases, if the foreign tax rate is higher than the U. File an extension on my taxes S. File an extension on my taxes rate, there will be no U. File an extension on my taxes S. File an extension on my taxes tax on the foreign income. File an extension on my taxes If the foreign tax rate is lower than the U. File an extension on my taxes S. File an extension on my taxes rate, U. File an extension on my taxes S. File an extension on my taxes tax on the foreign income will be limited to the difference between the rates. File an extension on my taxes The foreign tax credit can only reduce U. File an extension on my taxes S. File an extension on my taxes taxes on foreign source income; it cannot reduce U. File an extension on my taxes S. File an extension on my taxes taxes on U. File an extension on my taxes S. File an extension on my taxes source income. File an extension on my taxes Although no one rule covers all situations, in most cases it is better to take a credit for qualified foreign taxes than to deduct them as an itemized deduction. File an extension on my taxes This is because: A credit reduces your actual U. File an extension on my taxes S. File an extension on my taxes income tax on a dollar-for-dollar basis, while a deduction reduces only your income subject to tax, You can choose to take the foreign tax credit even if you do not itemize your deductions. File an extension on my taxes You then are allowed the standard deduction in addition to the credit, and If you choose to take the foreign tax credit, and the taxes paid or accrued exceed the credit limit for the tax year, you may be able to carry over or carry back the excess to another tax year. File an extension on my taxes (See Limit on credit under How To Figure the Credit, later. File an extension on my taxes ) Example 1. File an extension on my taxes For 2013, you and your spouse have adjusted gross income of $80,300, including $20,000 of dividend income from foreign sources. File an extension on my taxes None of the dividends are qualified dividends. File an extension on my taxes You file a joint return and can claim two $3,900 exemptions. File an extension on my taxes You had to pay $2,000 in foreign income taxes on the dividend income. File an extension on my taxes If you take the foreign taxes as an itemized deduction, your total itemized deductions are $15,000. File an extension on my taxes Your taxable income then is $57,500 and your tax is $7,736. File an extension on my taxes If you take the credit instead, your itemized deductions are only $13,000. File an extension on my taxes Your taxable income then is $59,500 and your tax before the credit is $8,036. File an extension on my taxes After the credit, however, your tax is only $6,036. File an extension on my taxes Therefore, your tax is $1,700 lower ($7,736 − $6,036) by taking the credit. File an extension on my taxes Example 2. File an extension on my taxes In 2013, you receive investment income of $5,000 from a foreign country, which imposes a tax of $1,500 on that income. File an extension on my taxes You report on your U. File an extension on my taxes S. File an extension on my taxes return this income as well as $56,000 of U. File an extension on my taxes S. File an extension on my taxes source wages and an allowable $49,000 partnership loss from a U. File an extension on my taxes S. File an extension on my taxes partnership. File an extension on my taxes Your share of the partnership's gross income is $25,000 and your share of its expenses is $74,000. File an extension on my taxes You are single, entitled to one $3,900 exemption, and have other itemized deductions of $6,850. File an extension on my taxes If you deduct the foreign tax on your U. File an extension on my taxes S. File an extension on my taxes return, your taxable income is a negative $250 ($5,000 + $56,000 − $49,000 − $1,500 − $6,850 − $3,900) and your tax is $0. File an extension on my taxes If you take the credit instead, your taxable income is $1,250 ($5,000 + $56,000 − $49,000 − $3,900 − $6,850) and your tax before the credit is $126. File an extension on my taxes You can take a credit of only $113 because of limits discussed later. File an extension on my taxes Your tax after the credit is $13 ($126 − $113), which is $13 more than if you deduct the foreign tax. File an extension on my taxes If you choose the credit, you will have unused foreign taxes of $1,387 ($1,500 − $113). File an extension on my taxes When deciding whether to take the credit or the deduction this year, you will need to consider whether you can benefit from a carryback or carryover of that unused foreign tax. File an extension on my taxes Credit for Taxes Paid or Accrued You can claim the credit for a qualified foreign tax in the tax year in which you pay it or accrue it, depending on your method of accounting. File an extension on my taxes “Tax year” refers to the tax year for which your U. File an extension on my taxes S. File an extension on my taxes return is filed, not the tax year for which your foreign return is filed. File an extension on my taxes Accrual method of accounting. File an extension on my taxes   If you use an accrual method of accounting, you can claim the credit only in the year in which you accrue the tax. File an extension on my taxes You are using an accrual method of accounting if you report income when you earn it, rather than when you receive it, and you deduct your expenses when you incur them, rather than when you pay them. File an extension on my taxes   In most cases, foreign taxes accrue when all the events have taken place that fix the amount of the tax and your liability to pay it. File an extension on my taxes Generally, this occurs on the last day of the tax year for which your foreign return is filed. File an extension on my taxes Contesting your foreign tax liability. File an extension on my taxes   If you are contesting your foreign tax liability, you cannot accrue it and take a credit until the amount of foreign tax due is finally determined. File an extension on my taxes However, if you choose to pay the tax liability you are contesting, you can take a credit for the amount you pay before a final determination of foreign tax liability is made. File an extension on my taxes Once your liability is determined, the foreign tax credit is allowable for the year to which the foreign tax relates. File an extension on my taxes If the amount of foreign taxes taken as a credit differs from the final foreign tax liability, you may have to adjust the credit, as discussed later under Foreign Tax Redetermination . File an extension on my taxes You may have to post a bond. File an extension on my taxes   If you claim a credit for taxes accrued but not paid, you may have to post an income tax bond to guarantee your payment of any tax due in the event the amount of foreign tax paid differs from the amount claimed. File an extension on my taxes   The IRS can request this bond at any time without regard to the Time Limit on Tax Assessment discussed later under Carryback and Carryover. File an extension on my taxes Cash method of accounting. File an extension on my taxes   If you use the cash method of accounting, you can choose to take the credit either in the year you pay the tax or in the year you accrue it. File an extension on my taxes You are using the cash method of accounting if you report income in the year you actually or constructively receive it, and deduct expenses in the year you pay them. File an extension on my taxes Choosing to take credit in the year taxes accrue. File an extension on my taxes   Even if you use the cash method of accounting, you can choose to take a credit for foreign taxes in the year they accrue. File an extension on my taxes You make the choice by checking the box in Part II of Form 1116. File an extension on my taxes Once you make that choice, you must follow it in all later years and take a credit for foreign taxes in the year they accrue. File an extension on my taxes   In addition, the choice to take the credit when foreign taxes accrue applies to all foreign taxes qualifying for the credit. File an extension on my taxes You cannot take a credit for some foreign taxes when paid and take a credit for others when accrued. File an extension on my taxes   If you make the choice to take the credit when foreign taxes accrue and pay them in a later year, you cannot claim a deduction for any part of the previously accrued taxes. File an extension on my taxes Credit based on taxes paid in earlier year. File an extension on my taxes   If, in earlier years, you took the credit based on taxes paid, and this year you choose to take the credit based on taxes accrued, you may be able to take the credit this year for taxes from more than one year. File an extension on my taxes Example. File an extension on my taxes Last year you took the credit based on taxes paid. File an extension on my taxes This year you chose to take the credit based on taxes accrued. File an extension on my taxes During the year you paid foreign income taxes owed for last year. File an extension on my taxes You also accrued foreign income taxes for this year that you did not pay by the end of the year. File an extension on my taxes You can base the credit on your return for this year on both last year's taxes that you paid and this year's taxes that you accrued. File an extension on my taxes Foreign Currency and Exchange Rates U. File an extension on my taxes S. File an extension on my taxes income tax is imposed on income expressed in U. File an extension on my taxes S. File an extension on my taxes dollars, while in most cases the foreign tax is imposed on income expressed in foreign currency. File an extension on my taxes Therefore, fluctuations in the value of the foreign currency relative to the U. File an extension on my taxes S. File an extension on my taxes dollar may affect the foreign tax credit. File an extension on my taxes Translating foreign currency into U. File an extension on my taxes S. File an extension on my taxes dollars. File an extension on my taxes   If you receive all or part of your income or pay some or all of your expenses in foreign currency, you must translate the foreign currency into U. File an extension on my taxes S. File an extension on my taxes dollars. File an extension on my taxes How and when you do this depends on your functional currency. File an extension on my taxes In most cases, your functional currency is the U. File an extension on my taxes S. File an extension on my taxes dollar unless you are required to use the currency of a foreign country. File an extension on my taxes   You must make all federal income tax determinations in your functional currency. File an extension on my taxes The U. File an extension on my taxes S. File an extension on my taxes dollar is the functional currency for all taxpayers except some qualified business units. File an extension on my taxes A qualified business unit is a separate and clearly identified unit of a trade or business that maintains separate books and records. File an extension on my taxes Unless you are self-employed, your functional currency is the U. File an extension on my taxes S. File an extension on my taxes dollar. File an extension on my taxes   Even if you are self-employed and have a qualified business unit, your functional currency is the U. File an extension on my taxes S. File an extension on my taxes dollar if any of the following apply. File an extension on my taxes You conduct the business primarily in dollars. File an extension on my taxes The principal place of business is located in the United States. File an extension on my taxes You choose to or are required to use the dollar as your functional currency. File an extension on my taxes The business books and records are not kept in the currency of the economic environment in which a significant part of the business activities is conducted. File an extension on my taxes   If your functional currency is the U. File an extension on my taxes S. File an extension on my taxes dollar, you must immediately translate into dollars all items of income, expense, etc. File an extension on my taxes , that you receive, pay, or accrue in a foreign currency and that will affect computation of your income tax. File an extension on my taxes If there is more than one exchange rate, use the one that most properly reflects your income. File an extension on my taxes In most cases, you can get exchange rates from banks and U. File an extension on my taxes S. File an extension on my taxes Embassies. File an extension on my taxes   If your functional currency is not the U. File an extension on my taxes S. File an extension on my taxes dollar, make all income tax determinations in your functional currency. File an extension on my taxes At the end of the year, translate the results, such as income or loss, into U. File an extension on my taxes S. File an extension on my taxes dollars to report on your income tax return. File an extension on my taxes    For more information, write to: Internal Revenue Service International Section Philadelphia, PA 19255-0725 Rate of exchange for foreign taxes paid. File an extension on my taxes   Use the rate of exchange in effect on the date you paid the foreign taxes to the foreign country unless you meet the exception discussed next. File an extension on my taxes If your tax was withheld in foreign currency, use the rate of exchange in effect for the date on which the tax was withheld. File an extension on my taxes If you make foreign estimated tax payments, you use the rate of exchange in effect for the date on which you made the estimated tax payment. File an extension on my taxes   The exchange rate rules discussed here apply even if the foreign taxes are paid or accrued with respect to a foreign tax credit splitting event (discussed later). File an extension on my taxes Exception. File an extension on my taxes   If you claim the credit for foreign taxes on an accrual basis, in most cases you must use the average exchange rate for the tax year to which the taxes relate. File an extension on my taxes This rule applies to accrued taxes relating to tax years beginning after 1997 and only under the following conditions. File an extension on my taxes The foreign taxes are paid on or after the first day of the tax year to which they relate. File an extension on my taxes The foreign taxes are paid not later than 2 years after the close of the tax year to which they relate. File an extension on my taxes The foreign tax liability is not denominated in an inflationary currency (defined in the Form 1116 instructions). File an extension on my taxes (This condition applies to taxes paid or accrued in tax years beginning after November 6, 2007. File an extension on my taxes )   For all other foreign taxes, you should use the exchange rate in effect on the date you paid them. File an extension on my taxes Election to use exchange rate on date paid. File an extension on my taxes   If you have accrued foreign taxes that you are otherwise required to convert using the average exchange rate, you may elect to use the exchange rate in effect on the date the foreign taxes are paid if the taxes are denominated in a nonfunctional foreign currency. File an extension on my taxes If any of the accrued taxes are unpaid, you must translate them into U. File an extension on my taxes S. File an extension on my taxes dollars using the exchange rate on the last day of the U. File an extension on my taxes S. File an extension on my taxes tax year to which those taxes relate. File an extension on my taxes You may make the election for all nonfunctional currency foreign income taxes or only those nonfunctional currency foreign income taxes that are attributable to qualified business units with a U. File an extension on my taxes S. File an extension on my taxes dollar functional currency. File an extension on my taxes Once made, the election applies to the tax year for which made and all subsequent tax years unless revoked with the consent of the IRS. File an extension on my taxes The election is available for tax years beginning after 2004. File an extension on my taxes It must be made by the due date (including extensions) for filing the tax return for the first tax year to which the election applies. File an extension on my taxes Make the election by attaching a statement to the applicable tax return. File an extension on my taxes The statement must identify whether the election is made for all foreign taxes or only for foreign taxes attributable to qualified business units with a U. File an extension on my taxes S. File an extension on my taxes dollar functional currency. File an extension on my taxes Foreign Tax Redetermination A foreign tax redetermination is any change in your foreign tax liability that may affect your U. File an extension on my taxes S. File an extension on my taxes foreign tax credit claimed. File an extension on my taxes The year in which to claim the credit remains the year to which the foreign taxes paid or accrued relate, even if the change in foreign tax liability occurs in a later year. File an extension on my taxes If a foreign tax redetermination occurs, a redetermination of your U. File an extension on my taxes S. File an extension on my taxes tax liability is required if any of the following conditions apply. File an extension on my taxes The accrued taxes when paid differ from the amounts claimed as a credit. File an extension on my taxes The accrued taxes you claimed as a credit in one tax year are not paid within 2 years after the end of that tax year. File an extension on my taxes If this applies to you, you must reduce the credit previously claimed by the amount of the unpaid taxes. File an extension on my taxes You will not be allowed a credit for the unpaid taxes until you pay them. File an extension on my taxes When you pay the accrued taxes, a new foreign tax redetermination occurs and you must translate the taxes into U. File an extension on my taxes S. File an extension on my taxes dollars using the exchange rate as of the date they were paid. File an extension on my taxes The foreign tax credit is allowed for the year to which the foreign tax relates. File an extension on my taxes See Rate of exchange for foreign taxes paid , earlier, under Foreign Currency and Exchange Rates. File an extension on my taxes The foreign taxes you paid are refunded in whole or in part. File an extension on my taxes For taxes taken into account when accrued but translated into dollars on the date of payment, the dollar value of the accrued tax differs from the dollar value of the tax paid because of fluctuations in the exchange rate between the date of accrual and the date of payment. File an extension on my taxes However, no redetermination is required if the change in foreign tax liability for each foreign country is solely attributable to exchange rate fluctuations and is less than the smaller of: $10,000, or 2% of the total dollar amount of the foreign tax initially accrued for that foreign country for the U. File an extension on my taxes S. File an extension on my taxes tax year. File an extension on my taxes In this case, you must adjust your U. File an extension on my taxes S. File an extension on my taxes tax in the tax year in which the accrued foreign taxes are paid. File an extension on my taxes Notice to the Internal Revenue Service (IRS) of Redetermination You are required to notify the IRS about a foreign tax credit redetermination that affects your U. File an extension on my taxes S. File an extension on my taxes tax liability for each tax year affected by the redetermination. File an extension on my taxes In most cases, you must file Form 1040X, Amended U. File an extension on my taxes S. File an extension on my taxes Individual Income Tax Return, with a revised Form 1116 and a statement that contains information sufficient for the IRS to redetermine your U. File an extension on my taxes S. File an extension on my taxes tax liability for the year or years affected. File an extension on my taxes See Contents of statement , later. File an extension on my taxes You are not required to attach Form 1116 for a tax year affected by a redetermination if: The amount of your creditable taxes paid or accrued during the tax year is not more than $300 ($600 if married filing a joint return) as a result of the foreign tax redetermination, and You meet the requirements listed under Exemption from foreign tax credit limit under How To Figure the Credit, later. File an extension on my taxes There are other exceptions to this requirement. File an extension on my taxes They are discussed later under Due date of notification to IRS . File an extension on my taxes Contents of statement. File an extension on my taxes   The statement must include all of the following. File an extension on my taxes Your name, address, and taxpayer identification number. File an extension on my taxes The tax year or years that are affected by the foreign tax redetermination. File an extension on my taxes The date or dates the foreign taxes were accrued, if applicable. File an extension on my taxes The date or dates the foreign taxes were paid. File an extension on my taxes The amount of foreign taxes paid or accrued on each date (in foreign currency) and the exchange rate used to translate each amount. File an extension on my taxes Information sufficient to determine any interest due from or owing to you, including the amount of any interest paid to you by the foreign government and the dates received. File an extension on my taxes   In the case of any foreign taxes that were not paid before the date two years after the close of the tax year to which those taxes relate, you must provide the amount of those taxes in foreign currency and the exchange rate that was used to translate that amount when originally claimed as a credit. File an extension on my taxes   If any foreign tax was refunded in whole or in part, you must provide the date and amount (in foreign currency) of each refund, the exchange rate that was used to translate each amount when originally claimed as a credit, and the exchange rate for the date the refund was received (for purposes of computing foreign currency gain or loss under Internal Revenue Code section 988). File an extension on my taxes Due date of notification to IRS. File an extension on my taxes   If you pay less foreign tax than you originally claimed a credit for, in most cases you must file a notification by the due date (with extensions) of your original return for your tax year in which the foreign tax redetermination occurred. File an extension on my taxes There is no limit on the time the IRS has to redetermine and assess the correct U. File an extension on my taxes S. File an extension on my taxes tax due. File an extension on my taxes If you pay more foreign tax than you originally claimed a credit for, you have 10 years to file a claim for refund of U. File an extension on my taxes S. File an extension on my taxes taxes. File an extension on my taxes See Time Limit on Refund Claims , later. File an extension on my taxes   Exceptions to this due date are explained in the next two paragraphs. File an extension on my taxes Multiple redeterminations of U. File an extension on my taxes S. File an extension on my taxes tax liability for same tax year. File an extension on my taxes   Where more than one foreign tax redetermination requires a redetermination of U. File an extension on my taxes S. File an extension on my taxes tax liability for the same tax year and those redeterminations occur in the same tax year or within two consecutive tax years, you can file for that tax year one notification (Form 1040X with a Form 1116 and the required statement) that reflects all those tax redeterminations. File an extension on my taxes If you choose to file one notification, the due date for that notification is the due date of the original return (with extensions) for the year in which the first foreign tax redetermination that reduced your foreign tax liability occurred. File an extension on my taxes However, foreign tax redeterminations with respect to the tax year for which a redetermination of U. File an extension on my taxes S. File an extension on my taxes tax liability is required may occur after the due date for providing that notification. File an extension on my taxes In this situation, you may have to file more than one Form 1040X for that tax year. File an extension on my taxes Additional U. File an extension on my taxes S. File an extension on my taxes tax due eliminated by foreign tax credit carryback or carryover. File an extension on my taxes   If a foreign tax redetermination requires a redetermination of U. File an extension on my taxes S. File an extension on my taxes tax liability that would otherwise result in an additional amount of U. File an extension on my taxes S. File an extension on my taxes tax due, but the additional tax is eliminated by a carryback or carryover of an unused foreign tax, you do not have to amend your tax return for the year affected by the redetermination. File an extension on my taxes Instead, you can notify the IRS by attaching a statement to the original return for the tax year in which the foreign tax redetermination occurred. File an extension on my taxes You must file the statement by the due date (with extensions) of that return. File an extension on my taxes The statement must show the amount of the unused foreign taxes paid or accrued and a detailed schedule showing the computation of the carryback or carryover (including the amounts carried back or over to the year for which a redetermination on U. File an extension on my taxes S. File an extension on my taxes tax liability is required). File an extension on my taxes Failure-to-notify penalty. File an extension on my taxes   If you fail to notify the IRS of a foreign tax redetermination and cannot show reasonable cause for the failure, you may have to pay a penalty. File an extension on my taxes   For each month, or part of a month, that the failure continues, you pay a penalty of 5% of the tax due resulting from a redetermination of your U. File an extension on my taxes S. File an extension on my taxes tax. File an extension on my taxes This penalty cannot be more than 25% of the tax due. File an extension on my taxes Foreign tax refund. File an extension on my taxes   If you receive a foreign tax refund without interest from the foreign government, you will not have to pay interest on the amount of tax due resulting from the adjustment to your U. File an extension on my taxes S. File an extension on my taxes tax for the time before the date of the refund. File an extension on my taxes   However, if you receive a foreign tax refund with interest, you must pay interest to the IRS up to the amount of the interest paid to you by the foreign government. File an extension on my taxes The interest you must pay cannot be more than the interest you would have had to pay on taxes that were unpaid for any other reason for the same period. File an extension on my taxes Interest also is owed from the time you receive a refund until you pay the additional tax due. File an extension on my taxes Foreign tax imposed on foreign refund. File an extension on my taxes   If your foreign tax refund is taxed by the foreign country, you cannot take a separate credit or deduction for this additional foreign tax. File an extension on my taxes However, when you refigure the foreign tax credit taken for the original foreign tax, reduce the amount of the refund by the foreign tax paid on the refund. File an extension on my taxes Example. File an extension on my taxes You paid a foreign income tax of $3,000 in 2011, and received a foreign tax refund of $500 in 2013 on which a foreign tax of $100 was imposed. File an extension on my taxes When you refigure your credit for 2011, you must reduce the $3,000 you paid by $400. File an extension on my taxes Time Limit on Refund Claims You have 10 years to file a claim for refund of U. File an extension on my taxes S. File an extension on my taxes tax if you find that you paid or accrued a larger foreign tax than you claimed a credit for. File an extension on my taxes The 10-year period begins the day after the regular due date for filing the return (without extensions) for the year in which the taxes were actually paid or accrued. File an extension on my taxes You have 10 years to file your claim regardless of whether you claim the credit for taxes paid or taxes accrued. File an extension on my taxes The 10-year period applies to claims for refund or credit based on: Fixing math errors in figuring qualified foreign taxes, Reporting qualified foreign taxes not originally reported on the return, or Any other change in the size of the credit (including one caused by correcting the foreign tax credit limit). File an extension on my taxes The special 10-year period also applies to making or changing your choice to claim a deduction or credit for foreign taxes. File an extension on my taxes See Making or Changing Your Choice discussed earlier under Choosing To Take Credit or Deduction. File an extension on my taxes Who Can Take the Credit? U. File an extension on my taxes S. File an extension on my taxes citizens, resident aliens, and nonresident aliens who paid foreign income tax and are subject to U. File an extension on my taxes S. File an extension on my taxes tax on foreign source income may be able to take a foreign tax credit. File an extension on my taxes U. File an extension on my taxes S. File an extension on my taxes Citizens If you are a U. File an extension on my taxes S. File an extension on my taxes citizen, you are taxed by the United States on your worldwide income wherever you live. File an extension on my taxes You are normally entitled to take a credit for foreign taxes you pay or accrue. File an extension on my taxes Resident Aliens If you are a resident alien of the United States, you can take a credit for foreign taxes subject to the same general rules as U. File an extension on my taxes S. File an extension on my taxes citizens. File an extension on my taxes If you are a bona fide resident of Puerto Rico for the entire tax year, you also come under the same rules. File an extension on my taxes Usually, you can take a credit only for those foreign taxes imposed on income you actually or constructively received while you had resident alien status. File an extension on my taxes For information on alien status, see Publication 519. File an extension on my taxes Nonresident Aliens If you are a nonresident alien, you cannot take the credit in most cases. File an extension on my taxes However, you may be able to take the credit if: You were a bona fide resident of Puerto Rico during your entire tax year, or You pay or accrue tax to a foreign country or U. File an extension on my taxes S. File an extension on my taxes possession on income from foreign sources that is effectively connected with a trade or business in the United States. File an extension on my taxes But if you must pay tax to a foreign country or U. File an extension on my taxes S. File an extension on my taxes possession on income from U. File an extension on my taxes S. File an extension on my taxes sources only because you are a citizen or a resident of that country or U. File an extension on my taxes S. File an extension on my taxes possession, do not use that tax in figuring the amount of your credit. File an extension on my taxes For information on alien status and effectively connected income, see Publication 519. File an extension on my taxes What Foreign Taxes Qualify for the Credit? In most cases, the following four tests must be met for any foreign tax to qualify for the credit. File an extension on my taxes The tax must be imposed on you. File an extension on my taxes You must have paid or accrued the tax. File an extension on my taxes The tax must be the legal and actual foreign tax liability. File an extension on my taxes The tax must be an income tax (or a tax in lieu of an income tax). File an extension on my taxes Certain foreign taxes do not qualify for the credit even if the four tests are met. File an extension on my taxes See Foreign Taxes for Which You Cannot Take a Credit, later. File an extension on my taxes Tax Must Be Imposed on You You can claim a credit only for foreign taxes that are imposed on you by a foreign country or U. File an extension on my taxes S. File an extension on my taxes possession. File an extension on my taxes For example, a tax that is deducted from your wages is considered to be imposed on you. File an extension on my taxes You cannot shift the right to claim the credit by contract or other means. File an extension on my taxes Foreign country. File an extension on my taxes   A foreign country includes any foreign state and its political subdivisions. File an extension on my taxes Income, war profits, and excess profits taxes paid or accrued to a foreign city or province qualify for the foreign tax credit. File an extension on my taxes U. File an extension on my taxes S. File an extension on my taxes possessions. File an extension on my taxes   For foreign tax credit purposes, all qualified taxes paid to U. File an extension on my taxes S. File an extension on my taxes possessions are considered foreign taxes. File an extension on my taxes For this purpose, U. File an extension on my taxes S. File an extension on my taxes possessions include Puerto Rico and American Samoa. File an extension on my taxes   When the term “foreign country” is used in this publication, it includes U. File an extension on my taxes S. File an extension on my taxes possessions unless otherwise stated. File an extension on my taxes You Must Have Paid or Accrued the Tax In most cases, you can claim the credit only if you paid or accrued the foreign tax to a foreign country or U. File an extension on my taxes S. File an extension on my taxes possession. File an extension on my taxes However, the paragraphs that follow describe some instances in which you can claim the credit even if you did not directly pay or accrue the tax yourself. File an extension on my taxes Joint return. File an extension on my taxes   If you file a joint return, you can claim the credit based on the total foreign income taxes paid or accrued by you and your spouse. File an extension on my taxes Combined income. File an extension on my taxes   If foreign tax is imposed on the combined income of two or more persons (for example, spouses), the tax is allocated among, and considered paid by, these persons on a pro rata basis in proportion to each person's portion of the combined income, as determined under foreign law and Regulations section 1. File an extension on my taxes 901-2(f)(3)(iii). File an extension on my taxes Combined income with respect to each foreign tax that is imposed on a combined basis (and combined income subject to tax exemption or preferential tax rates) is computed separately, and the tax on that combined income is allocated separately. File an extension on my taxes   These rules apply to foreign taxes paid or accrued in tax years beginning after February 14, 2012. File an extension on my taxes However, you can choose to apply the new rules to foreign taxes paid or accrued in tax years beginning after December 31, 2010, and before February 15, 2012. File an extension on my taxes For more details, see paragraphs (f) and (h) of Regulations section 1. File an extension on my taxes 901-2. File an extension on my taxes For similar rules applicable to prior tax years, see Regulations section 1. File an extension on my taxes 901-2 (revised as of April 1, 2011). File an extension on my taxes Example. File an extension on my taxes You and your spouse reside in Country X, which imposes income tax on your combined incomes. File an extension on my taxes Both of you use the “u” as your functional currency. File an extension on my taxes Country X apportions tax based on income. File an extension on my taxes You had income of 30,000u and your spouse had income of 20,000u. File an extension on my taxes Your filing status on your U. File an extension on my taxes S. File an extension on my taxes income tax return is married filing separately. File an extension on my taxes You can claim only 60% (30,000u/50,000u) of the foreign taxes imposed on your income on your U. File an extension on my taxes S income tax return. File an extension on my taxes Your spouse can claim only 40% (20,000u/50,000u). File an extension on my taxes Partner or S corporation shareholder. File an extension on my taxes   If you are a member of a partnership, or a shareholder in an S corporation, you can claim the credit based on your proportionate share of the foreign income taxes paid or accrued by the partnership or the S corporation. File an extension on my taxes These amounts will be shown on the Schedule K-1 you receive from the partnership or S corporation. File an extension on my taxes However, if you are a shareholder in an S corporation that in turn owns stock in a foreign corporation, you cannot claim a credit for your share of foreign taxes paid by the foreign corporation. File an extension on my taxes Beneficiary. File an extension on my taxes   If you are a beneficiary of an estate or trust, you may be able to claim the credit based on your proportionate share of foreign income taxes paid or accrued by the estate or trust. File an extension on my taxes This amount will be shown on the Schedule K-1 you receive from the estate or trust. File an extension on my taxes However, you must show that the tax was imposed on income of the estate and not on income received by the decedent. File an extension on my taxes Mutual fund shareholder. File an extension on my taxes   If you are a shareholder of a mutual fund or other regulated investment company (RIC), you may be able to claim the credit based on your share of foreign income taxes paid by the fund if it chooses to pass the credit on to its shareholders. File an extension on my taxes You should receive from the mutual fund or other RIC a Form 1099-DIV, or similar statement, showing your share of the foreign income, and your share of the foreign taxes paid. File an extension on my taxes If you do not receive this information, you will need to contact the fund. File an extension on my taxes Controlled foreign corporation shareholder. File an extension on my taxes   If you are a shareholder of a controlled foreign corporation and choose to be taxed at corporate rates on the amount you must include in gross income from that corporation, you can claim the credit based on your share of foreign taxes paid or accrued by the controlled foreign corporation. File an extension on my taxes If you make this election, you must claim the credit by filing Form 1118, Foreign Tax Credit—Corporations. File an extension on my taxes Controlled foreign corporation. File an extension on my taxes   A controlled foreign corporation is a foreign corporation in which U. File an extension on my taxes S. File an extension on my taxes shareholders own more than 50% of the voting power or value of the stock. File an extension on my taxes You are considered a U. File an extension on my taxes S. File an extension on my taxes shareholder if you own, directly or indirectly, 10% or more of the total voting power of all classes of the foreign corporation's stock. File an extension on my taxes See Internal Revenue Code sections 951(b) and 958(b) for more information. File an extension on my taxes Tax Must Be the Legal and Actual Foreign Tax Liability The amount of foreign tax that qualifies is not necessarily the amount of tax withheld by the foreign country. File an extension on my taxes Only the legal and actual foreign tax liability that you paid or accrued during the year qualifies for the credit. File an extension on my taxes Foreign tax refund. File an extension on my taxes   You cannot take a foreign tax credit for income taxes paid to a foreign country if it is reasonably certain the amount would be refunded, credited, rebated, abated, or forgiven if you made a claim. File an extension on my taxes   For example, the United States has tax treaties with many countries allowing U. File an extension on my taxes S. File an extension on my taxes citizens and residents reductions in the rates of tax of those foreign countries. File an extension on my taxes However, some treaty countries require U. File an extension on my taxes S. File an extension on my taxes citizens and residents to pay the tax figured without regard to the lower treaty rates and then claim a refund for the amount by which the tax actually paid is more than the amount of tax figured using the lower treaty rate. File an extension on my taxes The qualified foreign tax is the amount figured using the lower treaty rate and not the amount actually paid, because the excess tax is refundable. File an extension on my taxes Subsidy received. File an extension on my taxes   Tax payments a foreign country returns to you in the form of a subsidy do not qualify for the foreign tax credit. File an extension on my taxes This rule applies even if the subsidy is given to a person related to you, or persons who participated with you in a transaction or a related transaction. File an extension on my taxes A subsidy can be provided by any means but must be determined, directly or indirectly, in relation to the amount of tax, or to the base used to figure the tax. File an extension on my taxes   The term “subsidy” includes any type of benefit. File an extension on my taxes Some ways of providing a subsidy are refunds, credits, deductions, payments, or discharges of obligations. File an extension on my taxes Shareholder receiving refund for corporate tax in integrated system. File an extension on my taxes   Under some foreign tax laws and treaties, a shareholder is considered to have paid part of the tax that is imposed on the corporation. File an extension on my taxes You may be able to claim a refund of these taxes from the foreign government. File an extension on my taxes You must include the refund (including any amount withheld) in your income in the year received. File an extension on my taxes Any tax withheld from the refund is a qualified foreign tax. File an extension on my taxes Example. File an extension on my taxes You are a shareholder of a French corporation. File an extension on my taxes You receive a $100 refund of the tax paid to France by the corporation on the earnings distributed to you as a dividend. File an extension on my taxes The French government imposes a 15% withholding tax ($15) on the refund you received. File an extension on my taxes You receive a check for $85. File an extension on my taxes You include $100 in your income. File an extension on my taxes The $15 of tax withheld is a qualified foreign tax. File an extension on my taxes Tax Must Be an Income Tax (or Tax in Lieu of Income Tax) In most cases, only income, war profits, and excess profits taxes (income taxes) qualify for the foreign tax credit. File an extension on my taxes Foreign taxes on wages, dividends, interest, and royalties qualify for the credit in most cases. File an extension on my taxes Furthermore, foreign taxes on income can qualify even though they are not imposed under an income tax law if the tax is in lieu of an income, war profits, or excess profits tax. File an extension on my taxes See Taxes in Lieu of Income Taxes , later. File an extension on my taxes Income Tax Simply because the levy is called an income tax by the foreign taxing authority does not make it an income tax for this purpose. File an extension on my taxes A foreign levy is an income tax only if it meets both of the following requirements. File an extension on my taxes It is a tax; that is, you have to pay it and you get no specific economic benefit (discussed below) from paying it. File an extension on my taxes The predominant character of the tax is that of an income tax in the U. File an extension on my taxes S. File an extension on my taxes sense. File an extension on my taxes A foreign levy may meet these requirements even if the foreign tax law differs from U. File an extension on my taxes S. File an extension on my taxes tax law. File an extension on my taxes The foreign law may include in income items that U. File an extension on my taxes S. File an extension on my taxes law does not include, or it may allow certain exclusions or deductions that U. File an extension on my taxes S. File an extension on my taxes law does not allow. File an extension on my taxes Specific economic benefit. File an extension on my taxes   In most cases, you get a specific economic benefit if you receive, or are considered to receive, an economic benefit from the foreign country imposing the levy, and: If there is a generally imposed income tax, the economic benefit is not available on substantially the same terms to all persons subject to the income tax, or If there is no generally imposed income tax, the economic benefit is not available on substantially the same terms to the population of the foreign country in general. File an extension on my taxes   You are considered to receive a specific economic benefit if you have a business transaction with a person who receives a specific economic benefit from the foreign country and, under the terms and conditions of the transaction, you receive directly or indirectly all or part of the benefit. File an extension on my taxes   However, see the exception discussed later under Pension, unemployment, and disability fund payments . File an extension on my taxes Economic benefits. File an extension on my taxes   Economic benefits include the following. File an extension on my taxes Goods. File an extension on my taxes Services. File an extension on my taxes Fees or other payments. File an extension on my taxes Rights to use, acquire, or extract resources, patents, or other property the foreign country owns or controls. File an extension on my taxes Discharges of contractual obligations. File an extension on my taxes   In most cases, the right or privilege merely to engage in business is not an economic benefit. File an extension on my taxes Dual-capacity taxpayers. File an extension on my taxes   If you are subject to a foreign country's levy and you also receive a specific economic benefit from that foreign country, you are a “dual-capacity taxpayer. File an extension on my taxes ” As a dual-capacity taxpayer, you cannot claim a credit for any part of the foreign levy, unless you establish that the amount paid under a distinct element of the foreign levy is a tax, rather than a compulsory payment for a direct or indirect specific economic benefit. File an extension on my taxes    For more information on how to establish amounts paid under separate elements of a levy, write to: Internal Revenue Service International Section Philadelphia, PA 19255-0725 Pension, unemployment, and disability fund payments. File an extension on my taxes   A foreign tax imposed on an individual to pay for retirement, old-age, death, survivor, unemployment, illness, or disability benefits, or for substantially similar purposes, is not payment for a specific economic benefit if the amount of the tax does not depend on the age, life expectancy, or similar characteristics of that individual. File an extension on my taxes    No deduction or credit is allowed, however, for social security taxes paid or accrued to a foreign country with which the United States has a social security agreement. File an extension on my taxes For more information about these agreements, see Publication 54. File an extension on my taxes Soak-up taxes. File an extension on my taxes   A foreign tax is not predominantly an income tax and does not qualify for credit to the extent it is a soak-up tax. File an extension on my taxes A tax is a soak-up tax to the extent that liability for it depends on the availability of a credit for it against income tax imposed by another country. File an extension on my taxes This rule applies only if and to the extent that the foreign tax would not be imposed if the credit were not available. File an extension on my taxes Penalties and interest. File an extension on my taxes   Amounts paid to a foreign government to satisfy a liability for interest, fines, penalties, or any similar obligation are not taxes and do not qualify for the credit. File an extension on my taxes Taxes not based on income. File an extension on my taxes   Foreign taxes based on gross receipts or the number of units produced, rather than on realized net income, do not qualify unless they are imposed in lieu of an income tax, as discussed next. File an extension on my taxes Taxes based on assets, such as property taxes, do not qualify for the credit. File an extension on my taxes Taxes in Lieu of Income Taxes A tax paid or accrued to a foreign country qualifies for the credit if it is imposed in lieu of an income tax otherwise generally imposed. File an extension on my taxes A foreign levy is a tax in lieu of an income tax only if: It is not payment for a specific economic benefit as discussed earlier, and The tax is imposed in place of, and not in addition to, an income tax otherwise generally imposed. File an extension on my taxes A tax in lieu of an income tax does not have to be based on realized net income. File an extension on my taxes A foreign tax imposed on gross income, gross receipts or sales, or the number of units produced or exported can qualify for the credit. File an extension on my taxes In most cases, a soak-up tax (discussed earlier) does not qualify as a tax in lieu of an income tax. File an extension on my taxes However, if the foreign country imposes a soak-up tax in lieu of an income tax, the amount that does not qualify for foreign tax credit is the lesser of the following amounts. File an extension on my taxes The soak-up tax. File an extension on my taxes The foreign tax you paid that is more than the amount you would have paid if you had been subject to the generally imposed income tax. File an extension on my taxes Foreign Taxes for Which You Cannot Take a Credit This part discusses the foreign taxes for which you cannot take a credit. File an extension on my taxes These are: Taxes on excluded income, Taxes for which you can only take an itemized deduction, Taxes on foreign mineral income, Taxes from international boycott operations, A portion of taxes on combined foreign oil and gas income, Taxes of U. File an extension on my taxes S. File an extension on my taxes persons controlling foreign corporations and partnerships who fail to file required information returns, and Taxes related to a foreign tax splitting event. File an extension on my taxes Taxes on Excluded Income You cannot take a credit for foreign taxes paid or accrued on certain income that is excluded from U. File an extension on my taxes S. File an extension on my taxes gross income. File an extension on my taxes Foreign Earned Income and Housing Exclusions You must reduce your foreign taxes available for the credit by the amount of those taxes paid or accrued on income that is excluded from U. File an extension on my taxes S. File an extension on my taxes income under the foreign earned income exclusion or the foreign housing exclusion. File an extension on my taxes See Publication 54 for more information on the foreign earned income and housing exclusions. File an extension on my taxes Wages completely excluded. File an extension on my taxes   If your wages are completely excluded, you cannot take a credit for any of the foreign taxes paid or accrued on these wages. File an extension on my taxes Wages partly excluded. File an extension on my taxes   If only part of your wages is excluded, you cannot take a credit for the foreign income taxes allocable to the excluded part. File an extension on my taxes You find the amount allocable to your excluded wages by multiplying the foreign tax paid or accrued on foreign earned income received or accrued during the tax year by a fraction. File an extension on my taxes   The numerator of the fraction is your foreign earned income and housing amounts excluded under the foreign earned income and housing exclusions for the tax year minus otherwise deductible expenses definitely related and properly apportioned to that income. File an extension on my taxes Deductible expenses do not include the foreign housing deduction. File an extension on my taxes   The denominator is your total foreign earned income received or accrued during the tax year minus all deductible expenses allocable to that income (including the foreign housing deduction). File an extension on my taxes If the foreign law taxes foreign earned income and some other income (for example, earned income from U. File an extension on my taxes S. File an extension on my taxes sources or a type of income not subject to U. File an extension on my taxes S. File an extension on my taxes tax), and the taxes on the other income cannot be segregated, the denominator of the fraction is the total amount of income subject to the foreign tax minus deductible expenses allocable to that income. File an extension on my taxes Example. File an extension on my taxes You are a U. File an extension on my taxes S. File an extension on my taxes citizen and a cash basis taxpayer, employed by Company X and living in Country A. File an extension on my taxes Your records show the following: Foreign earned income received $125,000 Unreimbursed business travel expenses 20,000 Income tax paid to Country A 30,000 Exclusion of foreign earned  income and housing allowance 97,600     Because you can exclude part of your wages, you cannot claim a credit for part of the foreign taxes. File an extension on my taxes To find that part, do the following. File an extension on my taxes First, find the amount of business expenses allocable to excluded wages and therefore not deductible. File an extension on my taxes To do this, multiply the otherwise deductible expenses by a fraction. File an extension on my taxes That fraction is the excluded wages over your foreign earned income. File an extension on my taxes   $20,000 × $97,600 $125,000 = $15,616             Next, find the numerator of the fraction by which you will multiply the foreign taxes paid. File an extension on my taxes To do this, subtract business expenses allocable to excluded wages ($15,616) from excluded wages ($97,600). File an extension on my taxes The result is $81,984. File an extension on my taxes Then, find the denominator of the fraction by subtracting all your deductible expenses from all your foreign earned income ($125,000 − $20,000 = $105,000). File an extension on my taxes Finally, multiply the foreign tax you paid by the resulting fraction. File an extension on my taxes   $30,000 × $81,984  $105,000 = $23,424 The amount of Country A tax you cannot take a credit for is $23,424. File an extension on my taxes Taxes on Income From Puerto Rico Exempt From U. File an extension on my taxes S. File an extension on my taxes Tax If you have income from Puerto Rican sources that is not taxable, you must reduce your foreign taxes paid or accrued by the taxes allocable to the exempt income. File an extension on my taxes For information on figuring the reduction, see Publication 570. File an extension on my taxes Possession Exclusion If you are a bona fide resident of American Samoa and exclude income from sources in American Samoa, you cannot take a credit for the taxes you pay or accrue on the excluded income. File an extension on my taxes For more information on this exclusion, see Publication 570. File an extension on my taxes Extraterritorial Income Exclusion You cannot take a credit for taxes you pay on qualifying foreign trade income excluded on Form 8873, Extraterritorial Income Exclusion. File an extension on my taxes However, see Internal Revenue Code section 943(d) for an exception for certain withholding taxes. File an extension on my taxes Taxes for Which You Can Only Take an Itemized Deduction You cannot claim a foreign tax credit for foreign income taxes paid or accrued under the following circumstances. File an extension on my taxes However, you can claim an itemized deduction for these taxes. File an extension on my taxes See Choosing To Take Credit or Deduction , earlier. File an extension on my taxes Taxes Imposed By Sanctioned Countries (Section 901(j) Income) You cannot claim a foreign tax credit for income taxes paid or accrued to any country if the income giving rise to the tax is for a period (the sanction period) during which: The Secretary of State has designated the country as one that repeatedly provides support for acts of international terrorism, The United States has severed or does not conduct diplomatic relations with the country, or The United States does not recognize the country's government, and that government is not otherwise eligible to purchase defense articles or services under the Arms Export Control Act. File an extension on my taxes The following countries meet this description for 2013. File an extension on my taxes Income taxes paid or accrued to these countries in 2013 do not qualify for the credit. File an extension on my taxes Cuba. File an extension on my taxes Iran. File an extension on my taxes Libya (but see Note later). File an extension on my taxes North Korea. File an extension on my taxes Sudan. File an extension on my taxes Syria. File an extension on my taxes Waiver of denial of the credit. File an extension on my taxes   A waiver can be granted to a sanctioned country if the President of the United States determines that granting the waiver is in the national interest of the United States and will expand trade and investment opportunities for U. File an extension on my taxes S. File an extension on my taxes companies in the sanctioned country. File an extension on my taxes The President must report to Congress his intentions to grant the waiver and his reasons for granting the waiver not less than 30 days before the date on which the waiver is granted. File an extension on my taxes Note. File an extension on my taxes Effective December 10, 2004, the President granted a waiver to Libya. File an extension on my taxes Income taxes arising on or after this date qualify for the credit if they meet the other requirements in this publication. File an extension on my taxes Limit on credit. File an extension on my taxes   In figuring the foreign tax credit limit, discussed later, income from a sanctioned country is a separate category of foreign income unless a Presidential waiver is granted. File an extension on my taxes You must fill out a separate Form 1116 for this income. File an extension on my taxes This will prevent you from claiming a credit for foreign taxes paid or accrued to the sanctioned country. File an extension on my taxes Example. File an extension on my taxes You lived and worked in Iran until August, when you were transferred to Italy. File an extension on my taxes You paid taxes to each country on the income earned in that country. File an extension on my taxes You cannot claim a foreign tax credit for the foreign taxes paid on the income earned in Iran. File an extension on my taxes Because the income earned in Iran is a separate category of foreign income, you must fill out a separate Form 1116 for that income. File an extension on my taxes You cannot take a credit for taxes paid on the income earned in Iran, but that income is taxable by the United States. File an extension on my taxes Figuring the credit when a sanction ends. File an extension on my taxes    Table 1 lists the countries for which sanctions have ended or for which a Presidential waiver has been granted. File an extension on my taxes For any of these countries, you can claim a foreign tax credit for the taxes paid or accrued to that country on the income for the period that begins after the end of the sanction period or the date the Presidential waiver was granted. File an extension on my taxes Example. File an extension on my taxes The sanctions against Country X ended on July 31. File an extension on my taxes On August 19, you receive a distribution from a mutual fund of Country X income. File an extension on my taxes The fund paid Country X income tax for you on the distribution. File an extension on my taxes Because the distribution was made after the sanction ended, you may include the foreign tax paid on the distribution to compute your foreign tax credit. File an extension on my taxes Amounts for the nonsanctioned period. File an extension on my taxes   If a sanction period ends (or a Presidential waiver is granted) during your tax year and you are not able to determine the actual income and taxes for that period, you can allocate amounts to that period based on the number of days in the period that fall in your tax year. File an extension on my taxes Multiply the income or taxes for the year by the following fraction to determine the amounts allocable to that period. File an extension on my taxes   Number of nonsanctioned days in year  Number of days in year Example. File an extension on my taxes You are a calendar year filer and received $20,000 of income from Country X in 2013 on which you paid tax of $4,500. File an extension on my taxes Sanctions against Country X ended on July 11, 2013. File an extension on my taxes You are unable to determine how much of the income or tax is for the nonsanctioned period. File an extension on my taxes Because your tax year starts on January 1, and the Country X sanction ended on July 11, 2013, 173 days of your tax year are in the nonsanctioned period. File an extension on my taxes You would compute the income for the nonsanctioned period as follows. File an extension on my taxes 173 365 × $20,000 = $9,479             You would figure the tax for the nonsanctioned period as follows. File an extension on my taxes 173 365 × $4,500 = $2,133 To figure your foreign tax credit, you would use $9,479 as the income from Country X and $2,133 as the tax. File an extension on my taxes Further information. File an extension on my taxes   The rules for figuring the foreign tax credit after a country's sanction period ends are more fully explained in Revenue Ruling 92-62, Cumulative Bulletin 1992-2, page 193. File an extension on my taxes This Cumulative Bulletin can be found in many libraries and IRS offices. File an extension on my taxes Table 1. File an extension on my taxes Countries Removed From the Sanction List or Granted Presidential Waiver   Sanction Period Country Starting Date Ending Date Iraq February 1, 1991 June 27, 2004 Libya January 1, 1987 December 9, 2004* *Presidential waiver granted for qualified income taxes arising after December 9, 2004. File an extension on my taxes Taxes Imposed on Certain Dividends You cannot claim a foreign tax credit for withholding tax (defined later ) on dividends paid or accrued if either of the following applies to the dividends. File an extension on my taxes The dividends are on stock you held for less than 16 days during the 31-day period that begins 15 days before the ex-dividend date (defined later). File an extension on my taxes The dividends are for a period or periods totaling more than 366 days on preferred stock you held for less than 46 days during the 91-day period that begins 45 days before the ex-dividend date. File an extension on my taxes If the dividend is not for more than 366 days, rule (1) applies to the preferred stock. File an extension on my taxes When figuring how long you held the stock, count the day you sold it, but do not count the day you acquired it or any days on which you were protected from risk of loss. File an extension on my taxes Regardless of how long you held the stock, you cannot claim the credit to the extent you have an obligation under a short sale or otherwise to make payments related to the dividend for positions in substantially similar or related property. File an extension on my taxes Withholding tax. File an extension on my taxes   For this purpose, withholding tax includes any tax determined on a gross basis. File an extension on my taxes It does not include any tax which is in the nature of a prepayment of a tax imposed on a net basis. File an extension on my taxes Ex-dividend date. File an extension on my taxes   The ex-dividend date is the first date following the declaration of a dividend on which the purchaser of a stock is not entitled to receive the next dividend payment. File an extension on my taxes Example 1. File an extension on my taxes You bought common stock from a foreign corporation on November 3. File an extension on my taxes You sold the stock on November 19. File an extension on my taxes You received a dividend on this stock because you owned it on the ex-dividend date of November 5. File an extension on my taxes To claim the credit, you must have held the stock for at least 16 days within the 31-day period that began on October 21 (15 days before the ex-dividend date). File an extension on my taxes Because you held the stock for 16 days, from November 4 until November 19, you are entitled to the credit. File an extension on my taxes Example 2. File an extension on my taxes The facts are the same as in Example 1 except that you sold the stock on November 14. File an extension on my taxes You held the stock for only 11 days. File an extension on my taxes You are not entitled to the credit. File an extension on my taxes Exception. File an extension on my taxes   If you are a securities dealer who actively conducts business in a foreign country, you may be able to claim a foreign tax credit for qualified taxes paid on dividends regardless of how long you held the stock or whether you were obligated to make payments for positions in substantially similar or related property. File an extension on my taxes See section 901(k)(4) of the Internal Revenue Code for more information. File an extension on my taxes Taxes Withheld on Income or Gain (Other Than Dividends) For income or gain (other than dividends) paid or accrued on property, you cannot claim a foreign tax credit for withholding tax (defined later): If you have not held the property for at least 16 days during the 31-day period that begins 15 days before the date on which the right to receive the payment arises, or To the extent you have to make related payments on positions in substantially similar or related property. File an extension on my taxes When figuring how long you held the property, count the day you sold it, but do not count the day you acquired it or any days on which you were protected from risk of loss. File an extension on my taxes Withholding tax. File an extension on my taxes   For this purpose, withholding tax includes any tax determined on a gross basis. File an extension on my taxes It does not include any tax which is in the nature of a prepayment of a tax imposed on a net basis. File an extension on my taxes Exception for dealers. File an extension on my taxes   If you are a dealer in property who actively conducts business in a foreign country, you may be able to claim a foreign tax credit for qualified taxes withheld on income or gain from that property regardless of how long you held it or whether you have to make related payments on positions in substantially similar or related property. File an extension on my taxes See section 901(I)(2) of the Internal Revenue Code for more information. File an extension on my taxes Covered Asset Acquisition ???You cannot take a credit for the disqualified portion of any foreign tax paid or accrued in connection with a covered asset acquisition. File an extension on my taxes A covered asset acquisition includes certain acquisitions that result in a stepped-up basis for U. File an extension on my taxes S. File an extension on my taxes tax purposes but not for foreign tax purposes. File an extension on my taxes For more information, see Internal Revenue Code section 901(m). File an extension on my taxes The IRS intends to issue guidance that will explain this provision in greater detail. File an extension on my taxes Taxes in Connection With the Purchase or Sale of Oil or Gas You cannot claim a foreign tax credit for taxes paid or accrued to a foreign country in connection with the purchase or sale of oil or gas extracted in that country if you do not have an economic interest in the oil or gas, and the purchase price or sales price is different from the fair market value of the oil or gas at the time of purchase or sale. File an extension on my taxes Taxes on Foreign Mineral Income You must reduce any taxes paid or accrued to a foreign country or possession on mineral income from that country or possession if you were allowed a deduction for percentage depletion for any part of the mineral income. File an extension on my taxes For details, see Regulations section 1. File an extension on my taxes 901-3. File an extension on my taxes Taxes From International Boycott Operations If you participate in or cooperate with an international boycott during the tax year, your foreign taxes resulting from boycott activities will reduce the total taxes available for credit. File an extension on my taxes See the instructions for line 12 in the Form 1116 instructions to figure this reduction. File an extension on my taxes In most cases, this rule does not apply to employees with wages who are working and living in boycotting countries, or to retirees with pensions who are living in these countries. File an extension on my taxes List of boycotting countries. File an extension on my taxes   A list of the countries which may require participation in or cooperation with an international boycott is published by the Department of the Treasury. File an extension on my taxes As of November 2013, the following countries are listed. File an extension on my taxes Iraq. File an extension on my taxes Kuwait. File an extension on my taxes Lebanon. File an extension on my taxes Libya. File an extension on my taxes Qatar. File an extension on my taxes Saudi Arabia. File an extension on my taxes Syria. File an extension on my taxes United Arab Emirates. File an extension on my taxes Yemen. File an extension on my taxes    For information concerning changes to the list, write to: Internal Revenue Service International Section Philadelphia, PA 19255-0725 Determinations of whether the boycott rule applies. File an extension on my taxes   You may request a determination from the Internal Revenue Service as to whether a particular operation constitutes participation in or cooperation with an international boycott. File an extension on my taxes The procedures for obtaining a determination from the Service are outlined in Revenue Procedure 77-9 in Cumulative Bulletin 1977-1. File an extension on my taxes Cumulative Bulletins are available in most IRS offices and you are welcome to read them there. File an extension on my taxes Public inspection. File an extension on my taxes   A determination and any related background file is open to public inspection. File an extension on my taxes However, your identity and certain other information will remain confidential. File an extension on my taxes Reporting requirements. File an extension on my taxes   You must file a report with the IRS if you or any of the following persons have operations in or related to a boycotting country or with the government, a company, or a national of a boycotting country. File an extension on my taxes A foreign corporation in which you own 10% or more of the voting power of all voting stock but only if you own the stock of the foreign corporation directly or through foreign entities. File an extension on my taxes A partnership in which you are a partner. File an extension on my taxes A trust you are treated as owning. File an extension on my taxes Form 5713 required. File an extension on my taxes   If you have to file a report, you must use Form 5713, International Boycott Report, and attach all supporting schedules. File an extension on my taxes See the Instructions for Form 5713 for information on when and where to file the form. File an extension on my taxes Penalty for failure to file. File an extension on my taxes   If you willfully fail to make a report, in addition to other penalties, you may be fined $25,000 or imprisoned for no more than one year, or both. File an extension on my taxes Taxes on Combined Foreign Oil and Gas Income You must reduce your foreign taxes by a portion of any foreign taxes imposed on combined foreign oil and gas income. File an extension on my taxes The amount of the reduction is the amount by which your foreign oil and gas taxes exceed the amount of your combined foreign oil and gas income multiplied by a fraction equal to your pre-credit U. File an extension on my taxes S. File an extension on my taxes tax liability (Form 1040, line 44) divided by your worldwide taxable income. File an extension on my taxes You may be entitled to carry over to other years taxes reduced under this rule. File an extension on my taxes See Internal Revenue Code section 907(f). File an extension on my taxes Combined foreign oil and gas income means the sum of foreign oil related income and foreign oil and gas extraction income. File an extension on my taxes Foreign oil and gas taxes are the sum of foreign oil and gas extraction taxes and foreign oil related taxes. File an extension on my taxes Taxes of U. File an extension on my taxes S. File an extension on my taxes Persons Controlling Foreign Corporations and Partnerships If you had control of a foreign corporation or a foreign partnership for the annual accounting period of that corporation or partnership that ended with or within your tax year, you may have to file an annual information return. File an extension on my taxes If you do not file the required information return, you may have to reduce the foreign taxes that may be used for the foreign tax credit. File an extension on my taxes See Penalty for not filing Form 5471 or Form 8865 , later. File an extension on my taxes U. File an extension on my taxes S. File an extension on my taxes persons controlling foreign corporations. File an extension on my taxes   If you are a U. File an extension on my taxes S. File an extension on my taxes citizen or resident who had control of a foreign corporation for an uninterrupted period of at least 30 days during the annual accounting period of that corporation, you may have to file an annual information return on Form 5471, Information Return of U. File an extension on my taxes S. File an extension on my taxes Persons With Respect To Certain Foreign Corporations. File an extension on my taxes Under this rule, you generally had control of a foreign corporation if at any time during your tax year you owned: Stock possessing more than 50% of the total combined voting power of all classes of stock entitled to vote, or More than 50% of the total value of shares of all classes of stock of the foreign corporation. File an extension on my taxes U. File an extension on my taxes S. File an extension on my taxes persons controlling foreign partnerships. File an extension on my taxes   If you are a U. File an extension on my taxes S. File an extension on my taxes citizen or resident who had control of a foreign partnership at any time during the partnership's tax year, you may have to file