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Filing 2012 Taxes For Free

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Filing 2012 Taxes For Free

Filing 2012 taxes for free Publication 551 - Main Content Table of Contents Cost BasisStocks and Bonds Real Property Business Assets Allocating the Basis Adjusted BasisIncreases to Basis Decreases to Basis Adjustments to Basis Example Basis Other Than CostProperty Received for Services Taxable Exchanges Nontaxable Exchanges Property Transferred From a Spouse Property Received as a Gift Inherited Property Property Changed to Business or Rental Use How To Get Tax HelpLow Income Taxpayer Clinics (LITCs). Filing 2012 taxes for free Cost Basis The basis of property you buy is usually its cost. Filing 2012 taxes for free The cost is the amount you pay in cash, debt obligations, other property, or services. Filing 2012 taxes for free Your cost also includes amounts you pay for the following items. Filing 2012 taxes for free Sales tax, Freight, Installation and testing, Excise taxes, Legal and accounting fees (when they must be capitalized), Revenue stamps, Recording fees, and Real estate taxes (if assumed for the seller). Filing 2012 taxes for free  You may also have to capitalize (add to basis) certain other costs related to buying or producing property. Filing 2012 taxes for free Loans with low or no interest. Filing 2012 taxes for free   If you buy property on a time-payment plan that charges little or no interest, the basis of your property is your stated purchase price, minus the amount considered to be unstated interest. Filing 2012 taxes for free You generally have unstated interest if your interest rate is less than the applicable federal rate. Filing 2012 taxes for free For more information, see Unstated Interest and Original Issue Discount in Publication 537. Filing 2012 taxes for free Purchase of a business. Filing 2012 taxes for free   When you purchase a trade or business, you generally purchase all assets used in the business operations, such as land, buildings, and machinery. Filing 2012 taxes for free Allocate the price among the various assets, including any section 197 intangibles. Filing 2012 taxes for free See Allocating the Basis, later. Filing 2012 taxes for free Stocks and Bonds The basis of stocks or bonds you buy is generally the purchase price plus any costs of purchase, such as commissions and recording or transfer fees. Filing 2012 taxes for free If you get stocks or bonds other than by purchase, your basis is usually determined by the fair market value (FMV) or the previous owner's adjusted basis of the stock. Filing 2012 taxes for free You must adjust the basis of stocks for certain events that occur after purchase. Filing 2012 taxes for free See Stocks and Bonds in chapter 4 of Publication 550 for more information on the basis of stock. Filing 2012 taxes for free Identifying stock or bonds sold. Filing 2012 taxes for free   If you can adequately identify the shares of stock or the bonds you sold, their basis is the cost or other basis of the particular shares of stock or bonds. Filing 2012 taxes for free If you buy and sell securities at various times in varying quantities and you cannot adequately identify the shares you sell, the basis of the securities you sell is the basis of the securities you acquired first. Filing 2012 taxes for free For more information about identifying securities you sell, see Stocks and Bonds under Basis of Investment Property in chapter 4 of Publication 550. Filing 2012 taxes for free Mutual fund shares. Filing 2012 taxes for free   If you sell mutual fund shares acquired at different times and prices, you can choose to use an average basis. Filing 2012 taxes for free For more information, see Publication 550. Filing 2012 taxes for free Real Property Real property, also called real estate, is land and generally anything built on or attached to it. Filing 2012 taxes for free If you buy real property, certain fees and other expenses become part of your cost basis in the property. Filing 2012 taxes for free Real estate taxes. Filing 2012 taxes for free   If you pay real estate taxes the seller owed on real property you bought, and the seller did not reimburse you, treat those taxes as part of your basis. Filing 2012 taxes for free You cannot deduct them as taxes. Filing 2012 taxes for free   If you reimburse the seller for taxes the seller paid for you, you can usually deduct that amount as an expense in the year of purchase. Filing 2012 taxes for free Do not include that amount in the basis of the property. Filing 2012 taxes for free If you did not reimburse the seller, you must reduce your basis by the amount of those taxes. Filing 2012 taxes for free Settlement costs. Filing 2012 taxes for free   Your basis includes the settlement fees and closing costs for buying property. Filing 2012 taxes for free You cannot include in your basis the fees and costs for getting a loan on property. Filing 2012 taxes for free A fee for buying property is a cost that must be paid even if you bought the property for cash. Filing 2012 taxes for free   The following items are some of the settlement fees or closing costs you can include in the basis of your property. Filing 2012 taxes for free Abstract fees (abstract of title fees); Charges for installing utility services; Legal fees (including title search and preparation of the sales contract and deed); Recording fees; Surveys; Transfer taxes; Owner's title insurance; and Any amounts the seller owes that you agree to pay, such as back taxes or interest, recording or mortgage fees, charges for improvements or repairs, and sales commissions. Filing 2012 taxes for free   Settlement costs do not include amounts placed in escrow for the future payment of items such as taxes and insurance. Filing 2012 taxes for free   The following items are some settlement fees and closing costs you cannot include in the basis of the property. Filing 2012 taxes for free Casualty insurance premiums. Filing 2012 taxes for free Rent for occupancy of the property before closing. Filing 2012 taxes for free Charges for utilities or other services related to occupancy of the property before closing. Filing 2012 taxes for free Charges connected with getting a loan. Filing 2012 taxes for free The following are examples of these charges. Filing 2012 taxes for free Points (discount points, loan origination fees). Filing 2012 taxes for free Mortgage insurance premiums. Filing 2012 taxes for free Loan assumption fees. Filing 2012 taxes for free Cost of a credit report. Filing 2012 taxes for free Fees for an appraisal required by a lender. Filing 2012 taxes for free Fees for refinancing a mortgage. Filing 2012 taxes for free If these costs relate to business property, items (1) through (3) are deductible as business expenses. Filing 2012 taxes for free Items (4) and (5) must be capitalized as costs of getting a loan and can be deducted over the period of the loan. Filing 2012 taxes for free Points. Filing 2012 taxes for free   If you pay points to obtain a loan (including a mortgage, second mortgage, line of credit, or a home equity loan), do not add the points to the basis of the related property. Filing 2012 taxes for free Generally, you deduct the points over the term of the loan. Filing 2012 taxes for free For more information on how to deduct points, see Points in chapter 4 of Publication 535. Filing 2012 taxes for free Points on home mortgage. Filing 2012 taxes for free   Special rules may apply to points you and the seller pay when you obtain a mortgage to purchase your main home. Filing 2012 taxes for free If certain requirements are met, you can deduct the points in full for the year in which they are paid. Filing 2012 taxes for free Reduce the basis of your home by any seller-paid points. Filing 2012 taxes for free For more information, see Points in Publication 936, Home Mortgage Interest Deduction. Filing 2012 taxes for free Assumption of mortgage. Filing 2012 taxes for free   If you buy property and assume (or buy subject to) an existing mortgage on the property, your basis includes the amount you pay for the property plus the amount to be paid on the mortgage. Filing 2012 taxes for free Example. Filing 2012 taxes for free If you buy a building for $20,000 cash and assume a mortgage of $80,000 on it, your basis is $100,000. Filing 2012 taxes for free Constructing assets. Filing 2012 taxes for free   If you build property or have assets built for you, your expenses for this construction are part of your basis. Filing 2012 taxes for free Some of these expenses include the following costs. Filing 2012 taxes for free Land, Labor and materials, Architect's fees, Building permit charges, Payments to contractors, Payments for rental equipment, and Inspection fees. Filing 2012 taxes for free In addition, if you own a business and use your employees, material, and equipment to build an asset, do not deduct the following expenses. Filing 2012 taxes for free You must include them in the asset's basis. Filing 2012 taxes for free Employee wages paid for the construction work, reduced by any employment credits allowed; Depreciation on equipment you own while it is used in the construction; Operating and maintenance costs for equipment used in the construction; and The cost of business supplies and materials used in the construction. Filing 2012 taxes for free    Do not include the value of your own labor, or any other labor you did not pay for, in the basis of any property you construct. Filing 2012 taxes for free Business Assets If you purchase property to use in your business, your basis is usually its actual cost to you. Filing 2012 taxes for free If you construct, create, or otherwise produce property, you must capitalize the costs as your basis. Filing 2012 taxes for free In certain circumstances, you may be subject to the uniform capitalization rules, next. Filing 2012 taxes for free Uniform Capitalization Rules The uniform capitalization rules specify the costs you add to basis in certain circumstances. Filing 2012 taxes for free Activities subject to the rules. Filing 2012 taxes for free   You must use the uniform capitalization rules if you do any of the following in your trade or business or activity carried on for profit. Filing 2012 taxes for free Produce real or tangible personal property for use in the business or activity, Produce real or tangible personal property for sale to customers, or Acquire property for resale. Filing 2012 taxes for free However, this rule does not apply to personal property if your average annual gross receipts for the 3 previous tax years are $10 million or less. Filing 2012 taxes for free   You produce property if you construct, build, install, manufacture, develop, improve, create, raise, or grow the property. Filing 2012 taxes for free Treat property produced for you under a contract as produced by you up to the amount you pay or costs you otherwise incur for the property. Filing 2012 taxes for free Tangible personal property includes films, sound recordings, video tapes, books, or similar property. Filing 2012 taxes for free    Under the uniform capitalization rules, you must capitalize all direct costs and an allocable part of most indirect costs you incur due to your production or resale activities. Filing 2012 taxes for free To capitalize means to include certain expenses in the basis of property you produce or in your inventory costs rather than deduct them as a current expense. Filing 2012 taxes for free You recover these costs through deductions for depreciation, amortization, or cost of goods sold when you use, sell, or otherwise dispose of the property. Filing 2012 taxes for free   Any cost you cannot use to figure your taxable income for any tax year is not subject to the uniform capitalization rules. Filing 2012 taxes for free Example. Filing 2012 taxes for free If you incur a business meal expense for which your deduction would be limited to 50% of the cost of the meal, that amount is subject to the uniform capitalization rules. Filing 2012 taxes for free The nondeductible part of the cost is not subject to the uniform capitalization rules. Filing 2012 taxes for free More information. Filing 2012 taxes for free   For more information about these rules, see the regulations under section 263A of the Internal Revenue Code and Publication 538, Accounting Periods and Methods. Filing 2012 taxes for free Exceptions. Filing 2012 taxes for free   The following are not subject to the uniform capitalization rules. Filing 2012 taxes for free Property you produce that you do not use in your trade, business, or activity conducted for profit; Qualified creative expenses you pay or incur as a free-lance (self-employed) writer, photographer, or artist that are otherwise deductible on your tax return; Property you produce under a long-term contract, except for certain home construction contracts; Research and experimental expenses deductible under section 174 of the Internal Revenue Code; and Costs for personal property acquired for resale if your (or your predecessor's) average annual gross receipts for the 3 previous tax years do not exceed $10 million. Filing 2012 taxes for free For other exceptions to the uniform capitalization rules, see section 1. Filing 2012 taxes for free 263A-1(b) of the regulations. Filing 2012 taxes for free   For information on the special rules that apply to costs incurred in the business of farming, see chapter 6 of Publication 225, Farmer's Tax Guide. Filing 2012 taxes for free Intangible Assets Intangible assets include goodwill, patents, copyrights, trademarks, trade names, and franchises. Filing 2012 taxes for free The basis of an intangible asset is usually the cost to buy or create it. Filing 2012 taxes for free If you acquire multiple assets, for example a going business for a lump sum, see Allocating the Basis below to figure the basis of the individual assets. Filing 2012 taxes for free The basis of certain intangibles can be amortized. Filing 2012 taxes for free See chapter 8 of Publication 535 for information on the amortization of these costs. Filing 2012 taxes for free Patents. Filing 2012 taxes for free   The basis of a patent you get for an invention is the cost of development, such as research and experimental expenditures, drawings, working models, and attorneys' and governmental fees. Filing 2012 taxes for free If you deduct the research and experimental expenditures as current business expenses, you cannot include them in the basis of the patent. Filing 2012 taxes for free The value of the inventor's time spent on an invention is not part of the basis. Filing 2012 taxes for free Copyrights. Filing 2012 taxes for free   If you are an author, the basis of a copyright will usually be the cost of getting the copyright plus copyright fees, attorneys' fees, clerical assistance, and the cost of plates that remain in your possession. Filing 2012 taxes for free Do not include the value of your time as the author, or any other person's time you did not pay for. Filing 2012 taxes for free Franchises, trademarks, and trade names. Filing 2012 taxes for free   If you buy a franchise, trademark, or trade name, the basis is its cost, unless you can deduct your payments as a business expense. Filing 2012 taxes for free Allocating the Basis If you buy multiple assets for a lump sum, allocate the amount you pay among the assets you receive. Filing 2012 taxes for free You must make this allocation to figure your basis for depreciation and gain or loss on a later disposition of any of these assets. Filing 2012 taxes for free See Trade or Business Acquired below. Filing 2012 taxes for free Group of Assets Acquired If you buy multiple assets for a lump sum, you and the seller may agree to a specific allocation of the purchase price among the assets in the sales contract. Filing 2012 taxes for free If this allocation is based on the value of each asset and you and the seller have adverse tax interests, the allocation generally will be accepted. Filing 2012 taxes for free However, see Trade or Business Acquired, next. Filing 2012 taxes for free Trade or Business Acquired If you acquire a trade or business, allocate the consideration paid to the various assets acquired. Filing 2012 taxes for free Generally, reduce the consideration paid by any cash and general deposit accounts (including checking and savings accounts) received. Filing 2012 taxes for free Allocate the remaining consideration to the other business assets received in proportion to (but not more than) their fair market value in the following order. Filing 2012 taxes for free Certificates of deposit, U. Filing 2012 taxes for free S. Filing 2012 taxes for free Government securities, foreign currency, and actively traded personal property, including stock and securities. Filing 2012 taxes for free Accounts receivable, other debt instruments, and assets you mark to market at least annually for federal income tax purposes. Filing 2012 taxes for free Property of a kind that would properly be included in inventory if on hand at the end of the tax year or property held primarily for sale to customers in the ordinary course of business. Filing 2012 taxes for free All other assets except section 197 intangibles, goodwill, and going concern value. Filing 2012 taxes for free Section 197 intangibles except goodwill and going concern value. Filing 2012 taxes for free Goodwill and going concern value (whether or not they qualify as section 197 intangibles). Filing 2012 taxes for free Agreement. Filing 2012 taxes for free   The buyer and seller may enter into a written agreement as to the allocation of any consideration or the fair market value (FMV) of any of the assets. Filing 2012 taxes for free This agreement is binding on both parties unless the IRS determines the amounts are not appropriate. Filing 2012 taxes for free Reporting requirement. Filing 2012 taxes for free   Both the buyer and seller involved in the sale of business assets must report to the IRS the allocation of the sales price among section 197 intangibles and the other business assets. Filing 2012 taxes for free Use Form 8594 to provide this information. Filing 2012 taxes for free The buyer and seller should each attach Form 8594 to their federal income tax return for the year in which the sale occurred. Filing 2012 taxes for free More information. Filing 2012 taxes for free   See Sale of a Business in chapter 2 of Publication 544 for more information. Filing 2012 taxes for free Land and Buildings If you buy buildings and the land on which they stand for a lump sum, allocate the basis of the property among the land and the buildings so you can figure the depreciation allowable on the buildings. Filing 2012 taxes for free Figure the basis of each asset by multiplying the lump sum by a fraction. Filing 2012 taxes for free The numerator is the FMV of that asset and the denominator is the FMV of the whole property at the time of purchase. Filing 2012 taxes for free If you are not certain of the FMV of the land and buildings, you can allocate the basis based on their assessed values for real estate tax purposes. Filing 2012 taxes for free Demolition of building. Filing 2012 taxes for free   Add demolition costs and other losses incurred for the demolition of any building to the basis of the land on which the demolished building was located. Filing 2012 taxes for free Do not claim the costs as a current deduction. Filing 2012 taxes for free Modification of building. Filing 2012 taxes for free   A modification of a building will not be treated as a demolition if the following conditions are satisfied. Filing 2012 taxes for free 75 percent or more of the existing external walls of the building are retained in place as internal or external walls, and 75 percent or more of the existing internal structural framework of the building is retained in place. Filing 2012 taxes for free   If the building is a certified historic structure, the modification must also be part of a certified rehabilitation. Filing 2012 taxes for free   If these conditions are met, add the costs of the modifications to the basis of the building. Filing 2012 taxes for free Subdivided lots. Filing 2012 taxes for free   If you buy a tract of land and subdivide it, you must determine the basis of each lot. Filing 2012 taxes for free This is necessary because you must figure the gain or loss on the sale of each individual lot. Filing 2012 taxes for free As a result, you do not recover your entire cost in the tract until you have sold all of the lots. Filing 2012 taxes for free   To determine the basis of an individual lot, multiply the total cost of the tract by a fraction. Filing 2012 taxes for free The numerator is the FMV of the lot and the denominator is the FMV of the entire tract. Filing 2012 taxes for free Future improvement costs. Filing 2012 taxes for free   If you are a developer and sell subdivided lots before the development work is completed, you can (with IRS consent) include in the basis of the properties sold an allocation of the estimated future cost for common improvements. Filing 2012 taxes for free See Revenue Procedure 92–29 for more information, including an explanation of the procedures for getting consent from the IRS. Filing 2012 taxes for free Use of erroneous cost basis. Filing 2012 taxes for free   If you made a mistake in figuring the cost basis of subdivided lots sold in previous years, you cannot correct the mistake for years for which the statute of limitations (generally 3 tax years) has expired. Filing 2012 taxes for free Figure the basis of any remaining lots by allocating the correct original cost basis of the entire tract among the original lots. Filing 2012 taxes for free Example. Filing 2012 taxes for free You bought a tract of land to which you assigned a cost of $15,000. Filing 2012 taxes for free You subdivided the land into 15 building lots of equal size and equitably divided your basis so that each lot had a basis of $1,000. Filing 2012 taxes for free You treated the sale of each lot as a separate transaction and figured gain or loss separately on each sale. Filing 2012 taxes for free Several years later you determine that your original basis in the tract was $22,500 and not $15,000. Filing 2012 taxes for free You sold eight lots using $8,000 of basis in years for which the statute of limitations has expired. Filing 2012 taxes for free You now can take $1,500 of basis into account for figuring gain or loss only on the sale of each of the remaining seven lots ($22,500 basis divided among all 15 lots). Filing 2012 taxes for free You cannot refigure the basis of the eight lots sold in tax years barred by the statute of limitations. Filing 2012 taxes for free Adjusted Basis Before figuring gain or loss on a sale, exchange, or other disposition of property or figuring allowable depreciation, depletion, or amortization, you must usually make certain adjustments to the basis of the property. Filing 2012 taxes for free The result of these adjustments to the basis is the adjusted basis. Filing 2012 taxes for free Increases to Basis Increase the basis of any property by all items properly added to a capital account. Filing 2012 taxes for free These include the cost of any improvements having a useful life of more than 1 year. Filing 2012 taxes for free Rehabilitation expenses also increase basis. Filing 2012 taxes for free However, you must subtract any rehabilitation credit allowed for these expenses before you add them to your basis. Filing 2012 taxes for free If you have to recapture any of the credit, increase your basis by the recaptured amount. Filing 2012 taxes for free If you make additions or improvements to business property, keep separate accounts for them. Filing 2012 taxes for free Also, you must depreciate the basis of each according to the depreciation rules that would apply to the underlying property if you had placed it in service at the same time you placed the addition or improvement in service. Filing 2012 taxes for free For more information, see Publication 946. Filing 2012 taxes for free The following items increase the basis of property. Filing 2012 taxes for free The cost of extending utility service lines to the property; Impact fees; Legal fees, such as the cost of defending and perfecting title; Legal fees for obtaining a decrease in an assessment levied against property to pay for local improvements; Zoning costs; and The capitalized value of a redeemable ground rent. Filing 2012 taxes for free Assessments for Local Improvements Increase the basis of property by assessments for items such as paving roads and building ditches that increase the value of the property assessed. Filing 2012 taxes for free Do not deduct them as taxes. Filing 2012 taxes for free However, you can deduct as taxes charges for maintenance, repairs, or interest charges related to the improvements. Filing 2012 taxes for free Example. Filing 2012 taxes for free Your city changes the street in front of your store into an enclosed pedestrian mall and assesses you and other affected landowners for the cost of the conversion. Filing 2012 taxes for free Add the assessment to your property's basis. Filing 2012 taxes for free In this example, the assessment is a depreciable asset. Filing 2012 taxes for free Deducting vs. Filing 2012 taxes for free Capitalizing Costs Do not add to your basis costs you can deduct as current expenses. Filing 2012 taxes for free For example, amounts paid for incidental repairs or maintenance that are deductible as business expenses cannot be added to basis. Filing 2012 taxes for free However, you can choose either to deduct or to capitalize certain other costs. Filing 2012 taxes for free If you capitalize these costs, include them in your basis. Filing 2012 taxes for free If you deduct them, do not include them in your basis. Filing 2012 taxes for free See Uniform Capitalization Rules earlier. Filing 2012 taxes for free The costs you can choose to deduct or to capitalize include the following. Filing 2012 taxes for free Carrying charges, such as interest and taxes, that you pay to own property, except carrying charges that must be capitalized under the uniform capitalization rules; Research and experimentation costs; Intangible drilling and development costs for oil, gas, and geothermal wells; Exploration costs for new mineral deposits; Mining development costs for a new mineral deposit; Costs of establishing, maintaining, or increasing the circulation of a newspaper or other periodical; and Costs of removing architectural and transportation barriers to people with disabilities and the elderly. Filing 2012 taxes for free If you claim the disabled access credit, you must reduce the amount you deduct or capitalize by the amount of the credit. Filing 2012 taxes for free For more information about deducting or capitalizing costs, see chapter 7 in Publication 535. Filing 2012 taxes for free Table 1. Filing 2012 taxes for free Examples of Increases and Decreases to Basis Increases to Basis Decreases to Basis Capital improvements:   Putting an addition on your home   Replacing an entire roof  Paving your driveway  Installing central air conditioning Rewiring your home Exclusion from income of subsidies for energy conservation measures  Casualty or theft loss deductions and insurance reimbursements  Vehicle credits Assessments for local improvements: Water connections Sidewalks Roads Section 179 deduction  Casualty losses: Restoring damaged property Depreciation  Nontaxable corporate distributions Legal fees:  Cost of defending and perfecting a title   Zoning costs   Decreases to Basis The following are some items that reduce the basis of property. Filing 2012 taxes for free Section 179 deduction; Nontaxable corporate distributions; Deductions previously allowed (or allowable) for amortization, depreciation, and depletion; Exclusion of subsidies for energy conservation measures; Vehicle credits; Residential energy credits; Postponed gain from sale of home; Investment credit (part or all) taken; Casualty and theft losses and insurance reimbursement; Certain canceled debt excluded from income; Rebates from a manufacturer or seller; Easements; Gas-guzzler tax; Adoption tax benefits; and Credit for employer-provided child care. Filing 2012 taxes for free Some of these items are discussed next. Filing 2012 taxes for free Casualties and Thefts If you have a casualty or theft loss, decrease the basis in your property by any insurance or other reimbursement and by any deductible loss not covered by insurance. Filing 2012 taxes for free You must increase your basis in the property by the amount you spend on repairs that substantially prolong the life of the property, increase its value, or adapt it to a different use. Filing 2012 taxes for free To make this determination, compare the repaired property to the property before the casualty. Filing 2012 taxes for free For more information on casualty and theft losses, see Publication 547, Casualties, Disasters, and Thefts. Filing 2012 taxes for free Easements The amount you receive for granting an easement is generally considered to be a sale of an interest in real property. Filing 2012 taxes for free It reduces the basis of the affected part of the property. Filing 2012 taxes for free If the amount received is more than the basis of the part of the property affected by the easement, reduce your basis in that part to zero and treat the excess as a recognized gain. Filing 2012 taxes for free Vehicle Credits Unless you elect not to claim the qualified plug-in electric vehicle credit, the alternative motor vehicle credit, or the qualified plug-in electric drive motor vehicle credit, you may have to reduce the basis of each qualified vehicle by certain amounts reported. Filing 2012 taxes for free For more information, see Form 8834, Qualified Plug-in Electric and Electric Vehicle Credit; Form 8910, Alternative Motor Vehicle Credit; Form 8936, Qualified Plug-in Electric Drive Motor Vehicle Credit;and the related instructions. Filing 2012 taxes for free Gas-Guzzler Tax Decrease the basis in your car by the gas-guzzler (fuel economy) tax if you begin using the car within 1 year of the date of its first sale for ultimate use. Filing 2012 taxes for free This rule also applies to someone who later buys the car and begins using it not more than 1 year after the original sale for ultimate use. Filing 2012 taxes for free If the car is imported, the one-year period begins on the date of entry or withdrawal of the car from the warehouse if that date is later than the date of the first sale for ultimate use. Filing 2012 taxes for free Section 179 Deduction If you take the section 179 deduction for all or part of the cost of qualifying business property, decrease the basis of the property by the deduction. Filing 2012 taxes for free For more information about the section 179 deduction, see Publication 946. Filing 2012 taxes for free Exclusion of Subsidies for Energy Conservation Measures You can exclude from gross income any subsidy you received from a public utility company for the purchase or installation of any energy conservation measure for a dwelling unit. Filing 2012 taxes for free Reduce the basis of the property for which you received the subsidy by the excluded amount. Filing 2012 taxes for free For more information on this subsidy, see Publication 525. Filing 2012 taxes for free Depreciation Decrease the basis of property by the depreciation you deducted, or could have deducted, on your tax returns under the method of depreciation you chose. Filing 2012 taxes for free If you took less depreciation than you could have under the method chosen, decrease the basis by the amount you could have taken under that method. Filing 2012 taxes for free If you did not take a depreciation deduction, reduce the basis by the full amount of the depreciation you could have taken. Filing 2012 taxes for free Unless a timely election is made not to deduct the special depreciation allowance for property placed in service after September 10, 2001, decrease the property's basis by the special depreciation allowance you deducted or could have deducted. Filing 2012 taxes for free If you deducted more depreciation than you should have, decrease your basis by the amount equal to the depreciation you should have deducted plus the part of the excess depreciation you deducted that actually reduced your tax liability for the year. Filing 2012 taxes for free In decreasing your basis for depreciation, take into account the amount deducted on your tax returns as depreciation and any depreciation capitalized under the uniform capitalization rules. Filing 2012 taxes for free For information on figuring depreciation, see Publication 946. Filing 2012 taxes for free If you are claiming depreciation on a business vehicle, see Publication 463. Filing 2012 taxes for free If the car is not used more than 50% for business during the tax year, you may have to recapture excess depreciation. Filing 2012 taxes for free Include the excess depreciation in your gross income and add it to your basis in the property. Filing 2012 taxes for free For information on the computation of excess depreciation, see chapter 4 in Publication 463. Filing 2012 taxes for free Canceled Debt Excluded From Income If a debt you owe is canceled or forgiven, other than as a gift or bequest, you generally must include the canceled amount in your gross income for tax purposes. Filing 2012 taxes for free A debt includes any indebtedness for which you are liable or which attaches to property you hold. Filing 2012 taxes for free You can exclude canceled debt from income in the following situations. Filing 2012 taxes for free Debt canceled in a bankruptcy case or when you are insolvent, Qualified farm debt, and Qualified real property business debt (provided you are not a C corporation). Filing 2012 taxes for free If you exclude from income canceled debt under situation (1) or (2), you may have to reduce the basis of your depreciable and nondepreciable property. Filing 2012 taxes for free However, in situation (3), you must reduce the basis of your depreciable property by the excluded amount. Filing 2012 taxes for free For more information about canceled debt in a bankruptcy case or during insolvency, see Publication 908, Bankruptcy Tax Guide. Filing 2012 taxes for free For more information about canceled debt that is qualified farm debt, see chapter 3 in Publication 225. Filing 2012 taxes for free For more information about qualified real property business debt, see chapter 5 in Publication 334, Tax Guide for Small Business. Filing 2012 taxes for free Postponed Gain From Sale of Home If you postponed gain from the sale of your main home before May 7, 1997, you must reduce the basis of your new home by the postponed gain. Filing 2012 taxes for free For more information on the rules for the sale of a home, see Publication 523. Filing 2012 taxes for free Adoption Tax Benefits If you claim an adoption credit for the cost of improvements you added to the basis of your home, decrease the basis of your home by the credit allowed. Filing 2012 taxes for free This also applies to amounts you received under an employer's adoption assistance program and excluded from income. Filing 2012 taxes for free For more information Form 8839, Qualified Adoption Expenses. Filing 2012 taxes for free Employer-Provided Child Care If you are an employer, you can claim the employer-provided child care credit on amounts you paid or incurred to acquire, construct, rehabilitate, or expand property used as part of your qualified child care facility. Filing 2012 taxes for free You must reduce your basis in that property by the credit claimed. Filing 2012 taxes for free For more information, see Form 8882, Credit for Employer-Provided Child Care Facilities and Services. Filing 2012 taxes for free Adjustments to Basis Example In January 2005, you paid $80,000 for real property to be used as a factory. Filing 2012 taxes for free You also paid commissions of $2,000 and title search and legal fees of $600. Filing 2012 taxes for free You allocated the total cost of $82,600 between the land and the building—$10,325 for the land and $72,275 for the building. Filing 2012 taxes for free Immediately you spent $20,000 in remodeling the building before you placed it in service. Filing 2012 taxes for free You were allowed depreciation of $14,526 for the years 2005 through 2009. Filing 2012 taxes for free In 2008 you had a $5,000 casualty loss from a that was not covered by insurance on the building. Filing 2012 taxes for free You claimed a deduction for this loss. Filing 2012 taxes for free You spent $5,500 to repair the damages and extend the useful life of the building. Filing 2012 taxes for free The adjusted basis of the building on January 1, 2010, is figured as follows: Original cost of building including fees and commissions $72,275 Adjustments to basis:     Add:         Improvements 20,000   Repair of damages 5,500       $97,775 Subtract:       Depreciation $14,526     Deducted casualty loss 5,000 19,526 Adjusted basis on January 1, 2010 $78,249 The basis of the land, $10,325, remains unchanged. Filing 2012 taxes for free It is not affected by any of the above adjustments. Filing 2012 taxes for free Basis Other Than Cost There are many times when you cannot use cost as basis. Filing 2012 taxes for free In these cases, the fair market value or the adjusted basis of property may be used. Filing 2012 taxes for free Adjusted basis is discussed earlier. Filing 2012 taxes for free Fair market value (FMV). Filing 2012 taxes for free   FMV is the price at which property would change hands between a buyer and a seller, neither having to buy or sell, and both having reasonable knowledge of all necessary facts. Filing 2012 taxes for free Sales of similar property on or about the same date may be helpful in figuring the property's FMV. Filing 2012 taxes for free Property Received for Services If you receive property for services, include the property's FMV in income. Filing 2012 taxes for free The amount you include in income becomes your basis. Filing 2012 taxes for free If the services were performed for a price agreed on beforehand, it will be accepted as the FMV of the property if there is no evidence to the contrary. Filing 2012 taxes for free Bargain Purchases A bargain purchase is a purchase of an item for less than its FMV. Filing 2012 taxes for free If, as compensation for services, you purchase goods or other property at less than FMV, include the difference between the purchase price and the property's FMV in your income. Filing 2012 taxes for free Your basis in the property is its FMV (your purchase price plus the amount you include in income). Filing 2012 taxes for free If the difference between your purchase price and the FMV represents a qualified employee discount, do not include the difference in income. Filing 2012 taxes for free However, your basis in the property is still its FMV. Filing 2012 taxes for free See Employee Discounts in Publication 15-B. Filing 2012 taxes for free Restricted Property If you receive property for your services and the property is subject to certain restrictions, your basis in the property is its FMV when it becomes substantially vested unless you make the election discussed later. Filing 2012 taxes for free Property becomes substantially vested when your rights in the property or the rights of any person to whom you transfer the property are not subject to a substantial risk of forfeiture. Filing 2012 taxes for free There is substantial risk of forfeiture when the rights to full enjoyment of the property depend on the future performance of substantial services by any person. Filing 2012 taxes for free When the property becomes substantially vested, include the FMV, less any amount you paid for the property, in income. Filing 2012 taxes for free Example. Filing 2012 taxes for free Your employer gives you stock for services performed under the condition that you will have to return the stock unless you complete 5 years of service. Filing 2012 taxes for free The stock is under a substantial risk of forfeiture and is not substantially vested when you receive it. Filing 2012 taxes for free You do not report any income until you have completed the 5 years of service that satisfy the condition. Filing 2012 taxes for free Fair market value. Filing 2012 taxes for free   Figure the FMV of property you received without considering any restriction except one that by its terms will never end. Filing 2012 taxes for free Example. Filing 2012 taxes for free You received stock from your employer for services you performed. Filing 2012 taxes for free If you want to sell the stock while you are still employed, you must sell the stock to your employer at book value. Filing 2012 taxes for free At your retirement or death, you or your estate must offer to sell the stock to your employer at its book value. Filing 2012 taxes for free This is a restriction that by its terms will never end and you must consider it when you figure the FMV. Filing 2012 taxes for free Election. Filing 2012 taxes for free   You can choose to include in your gross income the FMV of the property at the time of transfer, less any amount you paid for it. Filing 2012 taxes for free If you make this choice, the substantially vested rules do not apply. Filing 2012 taxes for free Your basis is the amount you paid plus the amount you included in income. Filing 2012 taxes for free   See the discussion of Restricted Property in Publication 525 for more information. Filing 2012 taxes for free Taxable Exchanges A taxable exchange is one in which the gain is taxable or the loss is deductible. Filing 2012 taxes for free A taxable gain or deductible loss is also known as a recognized gain or loss. Filing 2012 taxes for free If you receive property in exchange for other property in a taxable exchange, the basis of property you receive is usually its FMV at the time of the exchange. Filing 2012 taxes for free A taxable exchange occurs when you receive cash or property not similar or related in use to the property exchanged. Filing 2012 taxes for free Example. Filing 2012 taxes for free You trade a tract of farm land with an adjusted basis of $3,000 for a tractor that has an FMV of $6,000. Filing 2012 taxes for free You must report a taxable gain of $3,000 for the land. Filing 2012 taxes for free The tractor has a basis of $6,000. Filing 2012 taxes for free Involuntary Conversions If you receive property as a result of an involuntary conversion, such as a casualty, theft, or condemnation, you can figure the basis of the replacement property you receive using the basis of the converted property. Filing 2012 taxes for free Similar or related property. Filing 2012 taxes for free   If you receive replacement property similar or related in service or use to the converted property, the replacement property's basis is the old property's basis on the date of the conversion. Filing 2012 taxes for free However, make the following adjustments. Filing 2012 taxes for free Decrease the basis by the following. Filing 2012 taxes for free Any loss you recognize on the conversion, and Any money you receive that you do not spend on similar property. Filing 2012 taxes for free Increase the basis by the following. Filing 2012 taxes for free Any gain you recognize on the conversion, and Any cost of acquiring the replacement property. Filing 2012 taxes for free Money or property not similar or related. Filing 2012 taxes for free   If you receive money or property not similar or related in service or use to the converted property, and you buy replacement property similar or related in service or use to the converted property, the basis of the new property is its cost decreased by the gain not recognized on the conversion. Filing 2012 taxes for free Example. Filing 2012 taxes for free The state condemned your property. Filing 2012 taxes for free The property had an adjusted basis of $26,000 and the state paid you $31,000 for it. Filing 2012 taxes for free You realized a gain of $5,000 ($31,000 − $26,000). Filing 2012 taxes for free You bought replacement property similar in use to the converted property for $29,000. Filing 2012 taxes for free You recognize a gain of $2,000 ($31,000 − $29,000), the unspent part of the payment from the state. Filing 2012 taxes for free Your gain not recognized is $3,000, the difference between the $5,000 realized gain and the $2,000 recognized gain. Filing 2012 taxes for free The basis of the new property is figured as follows: Cost of replacement property $29,000 Minus: Gain not recognized 3,000 Basis of the replacement property $26,000 Allocating the basis. Filing 2012 taxes for free   If you buy more than one piece of replacement property, allocate your basis among the properties based on their respective costs. Filing 2012 taxes for free Example. Filing 2012 taxes for free The state in the previous example condemned your unimproved real property and the replacement property you bought was improved real property with both land and buildings. Filing 2012 taxes for free Allocate the replacement property's $26,000 basis between land and buildings based on their respective costs. Filing 2012 taxes for free More information. Filing 2012 taxes for free   For more information about condemnations, see Involuntary Conversions in Publication 544. Filing 2012 taxes for free For more information about casualty and theft losses, see Publication 547. Filing 2012 taxes for free Nontaxable Exchanges A nontaxable exchange is an exchange in which you are not taxed on any gain and you cannot deduct any loss. Filing 2012 taxes for free If you receive property in a nontaxable exchange, its basis is usually the same as the basis of the property you transferred. Filing 2012 taxes for free A nontaxable gain or loss is also known as an unrecognized gain or loss. Filing 2012 taxes for free Like-Kind Exchanges The exchange of property for the same kind of property is the most common type of nontaxable exchange. Filing 2012 taxes for free To qualify as a like-kind exchange, you must hold for business or investment purposes both the property you transfer and the property you receive. Filing 2012 taxes for free There must also be an exchange of like-kind property. Filing 2012 taxes for free For more information, see Like-Kind Exchanges in Publication 544. Filing 2012 taxes for free The basis of the property you receive is the same as the basis of the property you gave up. Filing 2012 taxes for free Example. Filing 2012 taxes for free You exchange real estate (adjusted basis $50,000, FMV $80,000) held for investment for other real estate (FMV $80,000) held for investment. Filing 2012 taxes for free Your basis in the new property is the same as the basis of the old ($50,000). Filing 2012 taxes for free Exchange expenses. Filing 2012 taxes for free   Exchange expenses are generally the closing costs you pay. Filing 2012 taxes for free They include such items as brokerage commissions, attorney fees, deed preparation fees, etc. Filing 2012 taxes for free Add them to the basis of the like-kind property received. Filing 2012 taxes for free Property plus cash. Filing 2012 taxes for free   If you trade property in a like-kind exchange and also pay money, the basis of the property received is the basis of the property you gave up increased by the money you paid. Filing 2012 taxes for free Example. Filing 2012 taxes for free You trade in a truck (adjusted basis $3,000) for another truck (FMV $7,500) and pay $4,000. Filing 2012 taxes for free Your basis in the new truck is $7,000 (the $3,000 basis of the old truck plus the $4,000 paid). Filing 2012 taxes for free Special rules for related persons. Filing 2012 taxes for free   If a like-kind exchange takes place directly or indirectly between related persons and either party disposes of the property within 2 years after the exchange, the exchange no longer qualifies for like-kind exchange treatment. Filing 2012 taxes for free Each person must report any gain or loss not recognized on the original exchange. Filing 2012 taxes for free Each person reports it on the tax return filed for the year in which the later disposition occurs. Filing 2012 taxes for free If this rule applies, the basis of the property received in the original exchange will be its fair market value. Filing 2012 taxes for free   These rules generally do not apply to the following kinds of property dispositions. Filing 2012 taxes for free Dispositions due to the death of either related person, Involuntary conversions, and Dispositions in which neither the original exchange nor the subsequent disposition had as a main purpose the avoidance of federal income tax. Filing 2012 taxes for free Related persons. Filing 2012 taxes for free   Generally, related persons are ancestors, lineal descendants, brothers and sisters (whole or half), and a spouse. Filing 2012 taxes for free   For other related persons (for example, two corporations, an individual and a corporation, a grantor and fiduciary, etc. Filing 2012 taxes for free ), see Nondeductible Loss in chapter 2 of Publication 544. Filing 2012 taxes for free Exchange of business property. Filing 2012 taxes for free   Exchanging the assets of one business for the assets of another business is a multiple property exchange. Filing 2012 taxes for free For information on figuring basis, see Multiple Property Exchanges in chapter 1 of Publication 544. Filing 2012 taxes for free Partially Nontaxable Exchange A partially nontaxable exchange is an exchange in which you receive unlike property or money in addition to like property. Filing 2012 taxes for free The basis of the property you receive is the same as the basis of the property you gave up, with the following adjustments. Filing 2012 taxes for free Decrease the basis by the following amounts. Filing 2012 taxes for free Any money you receive, and Any loss you recognize on the exchange. Filing 2012 taxes for free Increase the basis by the following amounts. Filing 2012 taxes for free Any additional costs you incur, and Any gain you recognize on the exchange. Filing 2012 taxes for free If the other party to the exchange assumes your liabilities, treat the debt assumption as money you received in the exchange. Filing 2012 taxes for free Example. Filing 2012 taxes for free You traded a truck (adjusted basis $6,000) for a new truck (FMV $5,200) and $1,000 cash. Filing 2012 taxes for free You realized a gain of $200 ($6,200 − $6,000). Filing 2012 taxes for free This is the FMV of the truck received plus the cash minus the adjusted basis of the truck you traded ($5,200 + $1,000 – $6,000). Filing 2012 taxes for free You include all the gain in income (recognized gain) because the gain is less than the cash received. Filing 2012 taxes for free Your basis in the new truck is: Adjusted basis of old truck $6,000 Minus: Cash received (adjustment 1(a)) 1,000   $5,000 Plus: Gain recognized (adjustment 2(b)) 200 Basis of new truck $5,200 Allocation of basis. Filing 2012 taxes for free   Allocate the basis first to the unlike property, other than money, up to its FMV on the date of the exchange. Filing 2012 taxes for free The rest is the basis of the like property. Filing 2012 taxes for free Example. Filing 2012 taxes for free You had an adjusted basis of $15,000 in real estate you held for investment. Filing 2012 taxes for free You exchanged it for other real estate to be held for investment with an FMV of $12,500, a truck with an FMV of $3,000, and $1,000 cash. Filing 2012 taxes for free The truck is unlike property. Filing 2012 taxes for free You realized a gain of $1,500 ($16,500 − $15,000). Filing 2012 taxes for free This is the FMV of the real estate received plus the FMV of the truck received plus the cash minus the adjusted basis of the real estate you traded ($12,500 + $3,000 + $1,000 – $15,000). Filing 2012 taxes for free You include in income (recognize) all $1,500 of the gain because it is less than the FMV of the unlike property plus the cash received. Filing 2012 taxes for free Your basis in the properties you received is figured as follows. Filing 2012 taxes for free Adjusted basis of real estate transferred $15,000 Minus: Cash received (adjustment 1(a)) 1,000   $14,000 Plus: Gain recognized (adjustment 2(b)) 1,500 Total basis of properties received $15,500 Allocate the total basis of $15,500 first to the unlike property — the truck ($3,000). Filing 2012 taxes for free This is the truck's FMV. Filing 2012 taxes for free The rest ($12,500) is the basis of the real estate. Filing 2012 taxes for free Sale and Purchase If you sell property and buy similar property in two mutually dependent transactions, you may have to treat the sale and purchase as a single nontaxable exchange. Filing 2012 taxes for free Example. Filing 2012 taxes for free You are a salesperson and you use one of your cars 100% for business. Filing 2012 taxes for free You have used this car in your sales activities for 2 years and have depreciated it. Filing 2012 taxes for free Your adjusted basis in the car is $22,600 and its FMV is $23,100. Filing 2012 taxes for free You are interested in a new car, which sells for $28,000. Filing 2012 taxes for free If you trade your old car and pay $4,900 for the new one, your basis for depreciation for the new car would be $27,500 ($4,900 plus the $22,600 basis of your old car). Filing 2012 taxes for free However, you want a higher basis for depreciating the new car, so you agree to pay the dealer $28,000 for the new car if he will pay you $23,100 for your old car. Filing 2012 taxes for free Because the two transactions are dependent on each other, you are treated as having exchanged your old car for the new one and paid $4,900 ($28,000 − $23,100). Filing 2012 taxes for free Your basis for depreciating the new car is $27,500, the same as if you traded the old car. Filing 2012 taxes for free Partial Business Use of Property If you have property used partly for business and partly for personal use, and you exchange it in a nontaxable exchange for property to be used wholly or partly in your business, the basis of the property you receive is figured as if you had exchanged two properties. Filing 2012 taxes for free The first is an exchange of like-kind property. Filing 2012 taxes for free The second is personal-use property on which gain is recognized and loss is not recognized. Filing 2012 taxes for free First, figure your adjusted basis in the property as if you transferred two separate properties. Filing 2012 taxes for free Figure the adjusted basis of each part of the property by taking into account any adjustments to basis. Filing 2012 taxes for free Deduct the depreciation you took or could have taken from the adjusted basis of the business part. Filing 2012 taxes for free Then figure the amount realized for your property and allocate it to the business and nonbusiness parts of the property. Filing 2012 taxes for free The business part of the property is permitted to be exchanged tax free. Filing 2012 taxes for free However, you must recognize any gain from the exchange of the nonbusiness part. Filing 2012 taxes for free You are deemed to have received, in exchange for the nonbusiness part, an amount equal to its FMV on the date of the exchange. Filing 2012 taxes for free The basis of the property you acquired is the total basis of the property transferred (adjusted to the date of the exchange), increased by any gain recognized on the nonbusiness part. Filing 2012 taxes for free If the nonbusiness part of the property transferred is your main home, you may qualify to exclude from income all or part of the gain on that part. Filing 2012 taxes for free For more information, see Publication 523. Filing 2012 taxes for free Trade of car used partly in business. Filing 2012 taxes for free   If you trade in a car you used partly in your business for another car you will use in your business, your basis for depreciation of the new car is not the same as your basis for figuring a gain or loss on its sale. Filing 2012 taxes for free   For information on figuring your basis for depreciation, see Publication 463. Filing 2012 taxes for free Property Transferred From a Spouse The basis of property transferred to you or transferred in trust for your benefit by your spouse (or former spouse if the transfer is incident to divorce), is the same as your spouse's adjusted basis. Filing 2012 taxes for free However, adjust your basis for any gain recognized by your spouse or former spouse on property transferred in trust. Filing 2012 taxes for free This rule applies only to a transfer of property in trust in which the liabilities assumed, plus the liabilities to which the property is subject, are more than the adjusted basis of the property transferred. Filing 2012 taxes for free If the property transferred to you is a series E, series EE, or series I United States savings bond, the transferor must include in income the interest accrued to the date of transfer. Filing 2012 taxes for free Your basis in the bond immediately after the transfer is equal to the transferor's basis increased by the interest income includible in the transferor's income. Filing 2012 taxes for free For more information on these bonds, see Publication 550. Filing 2012 taxes for free At the time of the transfer, the transferor must give you the records necessary to determine the adjusted basis and holding period of the property as of the date of transfer. Filing 2012 taxes for free For more information, see Publication 504, Divorced or Separated Individuals. Filing 2012 taxes for free Property Received as a Gift To figure the basis of property you receive as a gift, you must know its adjusted basis (defined earlier) to the donor just before it was given to you, its FMV at the time it was given to you, and any gift tax paid on it. Filing 2012 taxes for free FMV Less Than Donor's Adjusted Basis If the FMV of the property at the time of the gift is less than the donor's adjusted basis, your basis depends on whether you have a gain or a loss when you dispose of the property. Filing 2012 taxes for free Your basis for figuring gain is the same as the donor's adjusted basis plus or minus any required adjustment to basis while you held the property. Filing 2012 taxes for free Your basis for figuring loss is its FMV when you received the gift plus or minus any required adjustment to basis while you held the property (see Adjusted Basis earlier). Filing 2012 taxes for free If you use the donor's adjusted basis for figuring a gain and get a loss, and then use the FMV for figuring a loss and have a gain, you have neither gain nor loss on the sale or disposition of the property. Filing 2012 taxes for free Example. Filing 2012 taxes for free You received an acre of land as a gift. Filing 2012 taxes for free At the time of the gift, the land had an FMV of $8,000. Filing 2012 taxes for free The donor's adjusted basis was $10,000. Filing 2012 taxes for free After you received the land, no events occurred to increase or decrease your basis. Filing 2012 taxes for free If you sell the land for $12,000, you will have a $2,000 gain because you must use the donor's adjusted basis ($10,000) at the time of the gift as your basis to figure gain. Filing 2012 taxes for free If you sell the land for $7,000, you will have a $1,000 loss because you must use the FMV ($8,000) at the time of the gift as your basis to figure a loss. Filing 2012 taxes for free If the sales price is between $8,000 and $10,000, you have neither gain nor loss. Filing 2012 taxes for free For instance, if the sales price was $9,000 and you tried to figure a gain using the donor's adjusted basis ($10,000), you would get a $1,000 loss. Filing 2012 taxes for free If you then tried to figure a loss using the FMV ($8,000), you would get a $1,000 gain. Filing 2012 taxes for free Business property. Filing 2012 taxes for free   If you hold the gift as business property, your basis for figuring any depreciation, depletion, or amortization deduction is the same as the donor's adjusted basis plus or minus any required adjustments to basis while you hold the property. Filing 2012 taxes for free FMV Equal to or More Than Donor's Adjusted Basis If the FMV of the property is equal to or greater than the donor's adjusted basis, your basis is the donor's adjusted basis at the time you received the gift. Filing 2012 taxes for free Increase your basis by all or part of any gift tax paid, depending on the date of the gift. Filing 2012 taxes for free Also, for figuring gain or loss from a sale or other disposition of the property, or for figuring depreciation, depletion, or amortization deductions on business property, you must increase or decrease your basis by any required adjustments to basis while you held the property. Filing 2012 taxes for free See Adjusted Basis earlier. Filing 2012 taxes for free Gift received before 1977. Filing 2012 taxes for free   If you received a gift before 1977, increase your basis in the gift (the donor's adjusted basis) by any gift tax paid on it. Filing 2012 taxes for free However, do not increase your basis above the FMV of the gift at the time it was given to you. Filing 2012 taxes for free Example 1. Filing 2012 taxes for free You were given a house in 1976 with an FMV of $21,000. Filing 2012 taxes for free The donor's adjusted basis was $20,000. Filing 2012 taxes for free The donor paid a gift tax of $500. Filing 2012 taxes for free Your basis is $20,500, the donor's adjusted basis plus the gift tax paid. Filing 2012 taxes for free Example 2. Filing 2012 taxes for free If, in Example 1, the gift tax paid had been $1,500, your basis would be $21,000. Filing 2012 taxes for free This is the donor's adjusted basis plus the gift tax paid, limited to the FMV of the house at the time you received the gift. Filing 2012 taxes for free Gift received after 1976. Filing 2012 taxes for free   If you received a gift after 1976, increase your basis in the gift (the donor's adjusted basis) by the part of the gift tax paid on it that is due to the net increase in value of the gift. Filing 2012 taxes for free Figure the increase by multiplying the gift tax paid by a fraction. Filing 2012 taxes for free The numerator of the fraction is the net increase in value of the gift and the denominator is the amount of the gift. Filing 2012 taxes for free   The net increase in value of the gift is the FMV of the gift less the donor's adjusted basis. Filing 2012 taxes for free The amount of the gift is its value for gift tax purposes after reduction by any annual exclusion and marital or charitable deduction that applies to the gift. Filing 2012 taxes for free For information on the gift tax, see Publication 950, Introduction to Estate and Gift Taxes. Filing 2012 taxes for free Example. Filing 2012 taxes for free In 2010, you received a gift of property from your mother that had an FMV of $50,000. Filing 2012 taxes for free Her adjusted basis was $20,000. Filing 2012 taxes for free The amount of the gift for gift tax purposes was $37,000 ($50,000 minus the $13,000 annual exclusion). Filing 2012 taxes for free She paid a gift tax of $9,000. Filing 2012 taxes for free Your basis, $27,290, is figured as follows: Fair market value $50,000 Minus: Adjusted basis 20,000 Net increase in value $30,000 Gift tax paid $9,000 Multiplied by ($30,000 ÷ $37,000) . Filing 2012 taxes for free 81 Gift tax due to net increase in value $7,290 Adjusted basis of property to your mother 20,000 Your basis in the property $27,290 Inherited Property Special rules apply to property acquired from a decedent who died in 2010. Filing 2012 taxes for free See Publication 4895, Tax Treatment of Property Acquired From a Decedent Dying in 2010, for details. Filing 2012 taxes for free If you inherited property from a decedent who died before 2010, your basis in property you inherit from a decedent is generally one of the following. Filing 2012 taxes for free The FMV of the property at the date of the individual's death. Filing 2012 taxes for free The FMV on the alternate valuation date if the personal representative for the estate chooses to use alternate valuation. Filing 2012 taxes for free For information on the alternate valuation date, see the Instructions for Form 706. Filing 2012 taxes for free The value under the special-use valuation method for real property used in farming or a closely held business if chosen for estate tax purposes. Filing 2012 taxes for free This method is discussed later. Filing 2012 taxes for free The decedent's adjusted basis in land to the extent of the value excluded from the decedent's taxable estate as a qualified conservation easement. Filing 2012 taxes for free For information on a qualified conservation easement, see the Instructions for Form 706. Filing 2012 taxes for free If a federal estate tax return does not have to be filed, your basis in the inherited property is its appraised value at the date of death for state inheritance or transmission taxes. Filing 2012 taxes for free For more information, see the Instructions for Form 706. Filing 2012 taxes for free Appreciated property. Filing 2012 taxes for free   The above rule does not apply to appreciated property you receive from a decedent if you or your spouse originally gave the property to the decedent within 1 year before the decedent's death. Filing 2012 taxes for free Your basis in this property is the same as the decedent's adjusted basis in the property immediately before his or her death, rather than its FMV. Filing 2012 taxes for free Appreciated property is any property whose FMV on the day it was given to the decedent is more than its adjusted basis. Filing 2012 taxes for free Community Property In community property states (Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin), husband and wife are each usually considered to own half the community property. Filing 2012 taxes for free When either spouse dies, the total value of the community property, even the part belonging to the surviving spouse, generally becomes the basis of the entire property. Filing 2012 taxes for free For this rule to apply, at least half the value of the community property interest must be includable in the decedent's gross estate, whether or not the estate must file a return. Filing 2012 taxes for free For example, you and your spouse owned community property that had a basis of $80,000. Filing 2012 taxes for free When your spouse died, half the FMV of the community interest was includible in your spouse's estate. Filing 2012 taxes for free The FMV of the community interest was $100,000. Filing 2012 taxes for free The basis of your half of the property after the death of your spouse is $50,000 (half of the $100,000 FMV). Filing 2012 taxes for free The basis of the other half to your spouse's heirs is also $50,000. Filing 2012 taxes for free For more information on community property, see Publication 555, Community Property. Filing 2012 taxes for free Property Held by Surviving Tenant The following example explains the rule for the basis of property held by a surviving tenant in joint tenancy or tenancy by the entirety. Filing 2012 taxes for free Example. Filing 2012 taxes for free John and Jim owned, as joint tenants with right of survivorship, business property they purchased for $30,000. Filing 2012 taxes for free John furnished two-thirds of the purchase price and Jim furnished one-third. Filing 2012 taxes for free Depreciation deductions allowed before John's death were $12,000. Filing 2012 taxes for free Under local law, each had a half interest in the income from the property. Filing 2012 taxes for free At the date of John's death, the property had an FMV of $60,000, two-thirds of which is includable in John's estate. Filing 2012 taxes for free Jim figures his basis in the property at the date of John's death as follows: Interest Jim bought with his own funds—1/3 of $30,000 cost $10,000   Interest Jim received on John's death—2/3 of $60,000 FMV 40,000 $50,000 Minus: ½ of $12,000 depreciation before John's death 6,000 Jim's basis at the date of John's death $44,000 If Jim had not contributed any part of the purchase price, his basis at the date of John's death would be $54,000. Filing 2012 taxes for free This is figured by subtracting from the $60,000 FMV, the $6,000 depreciation allocated to Jim's half interest before the date of death. Filing 2012 taxes for free If under local law Jim had no interest in the income from the property and he contributed no part of the purchase price, his basis at John's death would be $60,000, the FMV of the property. Filing 2012 taxes for free Qualified Joint Interest Include one-half of the value of a qualified joint interest in the decedent's gross estate. Filing 2012 taxes for free It does not matter how much each spouse contributed to the purchase price. Filing 2012 taxes for free Also, it does not matter which spouse dies first. Filing 2012 taxes for free A qualified joint interest is any interest in property held by husband and wife as either of the following. Filing 2012 taxes for free Tenants by the entirety, or Joint tenants with right of survivorship if husband and wife are the only joint tenants. Filing 2012 taxes for free Basis. Filing 2012 taxes for free   As the surviving spouse, your basis in property you owned with your spouse as a qualified joint interest is the cost of your half of the property with certain adjustments. Filing 2012 taxes for free Decrease the cost by any deductions allowed to you for depreciation and depletion. Filing 2012 taxes for free Increase the reduced cost by your basis in the half you inherited. Filing 2012 taxes for free Farm or Closely Held Business Under certain conditions, when a person dies the executor or personal representative of that person's estate can choose to value the qualified real property on other than its FMV. Filing 2012 taxes for free If so, the executor or personal representative values the qualified real property based on its use as a farm or its use in a closely held business. Filing 2012 taxes for free If the executor or personal representative chooses this method of valuation for estate tax purposes, that value is the basis of the property for the heirs. Filing 2012 taxes for free Qualified heirs should be able to get the necessary value from the executor or personal representative of the estate. Filing 2012 taxes for free Special-use valuation. Filing 2012 taxes for free   If you are a qualified heir who received special-use valuation property, your basis in the property is the estate's or trust's basis in that property immediately before the distribution. Filing 2012 taxes for free Increase your basis by any gain recognized by the estate or trust because of post-death appreciation. Filing 2012 taxes for free Post-death appreciation is the property's FMV on the date of distribution minus the property's FMV either on the date of the individual's death or the alternate valuation date. Filing 2012 taxes for free Figure all FMVs without regard to the special-use valuation. Filing 2012 taxes for free   You can elect to increase your basis in special-use valuation property if it becomes subject to the additional estate tax. Filing 2012 taxes for free This tax is assessed if, within 10 years after the death of the decedent, you transfer the property to a person who is not a member of your family or the property stops being used as a farm or in a closely held business. Filing 2012 taxes for free   To increase your basis in the property, you must make an irrevocable election and pay interest on the additional estate tax figured from the date 9 months after the decedent's death until the date of the payment of the additional estate tax. Filing 2012 taxes for free If you meet these requirements, increase your basis in the property to its FMV on the date of the decedent's death or the alternate valuation date. Filing 2012 taxes for free The increase in your basis is considered to have occurred immediately before the event that results in the additional estate tax. Filing 2012 taxes for free   You make the election by filing with Form 706-A a statement that does all of the following. Filing 2012 taxes for free Contains your name, address, and taxpayer identification number and those of the estate; Identifies the election as an election under section 1016(c) of the Internal Revenue Code; Specifies the property for which the election is made; and Provides any additional information required by the Instructions for Form 706-A. Filing 2012 taxes for free   For more information, see the Instructions for Form 706 and the Instructions for Form 706-A. Filing 2012 taxes for free Property Changed to Business or Rental Use If you hold property for personal use and then change it to business use or use it to produce rent, you must figure its basis for depreciation. Filing 2012 taxes for free An example of changing property held for personal use to business use would be renting out your former main home. Filing 2012 taxes for free Basis for depreciation. Filing 2012 taxes for free   The basis for depreciation is the lesser of the following amounts. Filing 2012 taxes for free The FMV of the property on the date of the change, or Your adjusted basis on the date of the change. Filing 2012 taxes for free Example. Filing 2012 taxes for free Several years ago you paid $160,000 to have your home built on a lot that cost $25,000. Filing 2012 taxes for free You paid $20,000 for permanent improvements to the house and claimed a $2,000 casualty loss deduction for damage to the house before changing the property to rental use last year. Filing 2012 taxes for free Because land is not depreciable, you include only the cost of the house when figuring the basis for depreciation. Filing 2012 taxes for free Your adjusted basis in the house when you changed its use was $178,000 ($160,000 + $20,000 − $2,000). Filing 2012 taxes for free On the same date, your property had an FMV of $180,000, of which $15,000 was for the land and $165,000 was for the house. Filing 2012 taxes for free The basis for figuring depreciation on the house is its FMV on the date of change ($165,000) because it is less than your adjusted basis ($178,000). Filing 2012 taxes for free Sale of property. Filing 2012 taxes for free   If you later sell or dispose of property changed to business or rental use, the basis of the property you use will depend on whether you are figuring gain or loss. Filing 2012 taxes for free Gain. Filing 2012 taxes for free   The basis for figuring a gain is your adjusted basis when you sell the property. Filing 2012 taxes for free Example. Filing 2012 taxes for free Assume the same facts as in the previous example except that you sell the property at a gain after being allowed depreciation deductions of $37,500. Filing 2012 taxes for free Your adjusted basis for figuring gain is $165,500 ($178,000 + $25,000 (land) − $37,500). Filing 2012 taxes for free Loss. Filing 2012 taxes for free   Figure the basis for a loss starting with the smaller of your adjusted basis or the FMV of the property at the time of the change to business or rental use. Filing 2012 taxes for free Then adjust this amount for the period after the change in the property's use, as discussed earlier under Adjusted Basis, to arrive at a basis for loss. Filing 2012 taxes for free Example. Filing 2012 taxes for free Assume the same facts as in the previous example, except that you sell the property at a loss after being allowed depreciation deductions of $37,500. Filing 2012 taxes for free In this case, you would start with the FMV on the date of the change to rental use ($180,000) because it is less than the adjusted basis of $203,000 ($178,000 + $25,000) on that date. Filing 2012 taxes for free Reduce that amount ($180,000) by the depreciation deductions to arrive at a basis for loss of $142,500 ($180,000 − $37,500). Filing 2012 taxes for free How To Get Tax Help You can get help with unresolved tax issues, order free publications and forms, ask tax questions, and get more information from the IRS in several ways. Filing 2012 taxes for free By selecting the method that is best for you, you will have quick and easy access to tax help. Filing 2012 taxes for free Contacting your Taxpayer Advocate. Filing 2012 taxes for free   The Taxpayer Advocate Service (TAS) is an independent organization within the IRS. Filing 2012 taxes for free We help taxpayers who are experiencing economic harm, such as not being able to provide necessities like housing, transportation, or food; taxpayers who are seeking help in resolving tax problems with the IRS; and those who believe that an IRS system or procedure is not working as it should. Filing 2012 taxes for free Here are seven things every taxpayer should know about TAS. Filing 2012 taxes for free TAS is your voice at the IRS. Filing 2012 taxes for free Our service is free, confidential, and tailored to meet your needs. Filing 2012 taxes for free You may be eligible for our help if you have tried to resolve your tax problem through normal IRS channels and have gotten nowhere, or you believe an IRS procedure just isn't working as it should. Filing 2012 taxes for free We help taxpayers whose problems are causing financial difficulty or significant cost, including the cost of professional representation. Filing 2012 taxes for free This includes businesses as well as individuals. Filing 2012 taxes for free Our employees know the IRS and how to navigate it. Filing 2012 taxes for free If you qualify for our help, we'll assign your case to an advocate who will listen to your problem, help you understand what needs to be done to resolve it, and stay with you every step of the way until your problem is resolved. Filing 2012 taxes for free We have at least one local taxpayer advocate in every state, the District of Columbia, and Puerto Rico. Filing 2012 taxes for free You can call your local advocate, whose number is in your phone book, in Publication 1546, Taxpayer Advocate Service—Your Voice at the IRS, and on our website at www. Filing 2012 taxes for free irs. Filing 2012 taxes for free gov/advocate. Filing 2012 taxes for free You can also call our toll-free line at 1-877-777-4778 or TTY/TDD 1-800-829-4059. Filing 2012 taxes for free You can learn about your rights and responsibilities as a taxpayer by visiting our online tax toolkit at www. Filing 2012 taxes for free taxtoolkit. Filing 2012 taxes for free irs. Filing 2012 taxes for free gov. Filing 2012 taxes for free You can get updates on hot tax topics by visiting our YouTube channel at www. Filing 2012 taxes for free youtube. Filing 2012 taxes for free com/tasnta and our Facebook page at www. Filing 2012 taxes for free facebook. Filing 2012 taxes for free com/YourVoiceAtIRS, or by following our tweets at www. Filing 2012 taxes for free twitter. Filing 2012 taxes for free com/YourVoiceAtIRS. Filing 2012 taxes for free Low Income Taxpayer Clinics (LITCs). Filing 2012 taxes for free   The Low Income Taxpayer Clinic program serves individuals who have a problem with the IRS and whose income is below a certain level. Filing 2012 taxes for free LITCs are independent from the IRS. Filing 2012 taxes for free Most LITCs can provide representation before the IRS or in court on audits, tax collection disputes, and other issues for free or a small fee. Filing 2012 taxes for free If an individual's native language is not English, some clinics can provide multilingual information about taxpayer rights and responsibilities. Filing 2012 taxes for free For more information, see Publication 4134, Low Income Taxpayer Clinic List. Filing 2012 taxes for free This publication is available at IRS. Filing 2012 taxes for free gov, by calling 1-800-TAX-FORM (1-800-829-3676), or at your local IRS office. Filing 2012 taxes for free Free tax services. Filing 2012 taxes for free   Publication 910, IRS Guide to Free Tax Services, is your guide to IRS services and resources. Filing 2012 taxes for free Learn about free tax information from the IRS, including publications, services, and education and assistance programs. Filing 2012 taxes for free The publication also has an index of over 100 TeleTax topics (recorded tax information) you can listen to on the telephone. Filing 2012 taxes for free The majority of the information and services listed in this publication are available to you free of charge. Filing 2012 taxes for free If there is a fee associated with a resource or service, it is listed in the publication. Filing 2012 taxes for free   Accessible versions of IRS published products are available on request in a variety of alternative formats for people with d
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Filing 2012 taxes for free 10. Filing 2012 taxes for free   Planes de Jubilación, Pensiones y Anualidades Table of Contents Qué Hay de Nuevo Recordatorio IntroductionLa Regla General. Filing 2012 taxes for free Arreglos de ahorros para la jubilación (IRA, por sus siglas en inglés). Filing 2012 taxes for free Beneficios de la jubilación del gobierno federal. Filing 2012 taxes for free Useful Items - You may want to see: Información GeneralReinversiones en arreglos de ahorros para la jubilación designados Roth IRA dentro del mismo plan. Filing 2012 taxes for free Cómo Hacer la Declaración Costo (Inversión en el Contrato) Tributación de Pagos PeriódicosExclusión limitada al costo. Filing 2012 taxes for free Exclusión no limitada al costo. Filing 2012 taxes for free Método Simplificado Tributación de Pagos no PeriódicosDistribuciones de Suma Global ReinversionesReinversiones en arreglos de ahorros para la jubilación designados Roth IRA dentro del mismo plan. Filing 2012 taxes for free Impuestos Adicionales EspecialesImpuesto sobre Distribuciones Prematuras Impuestos sobre Acumulación en Exceso Sobrevivientes y Beneficiarios Qué Hay de Nuevo Para propósitos del impuesto sobre los ingresos netos de inversión (NIIT, por sus siglas en inglés), los ingresos netos de inversión no incluyen distribuciones de un plan de jubilación calificado (por ejemplo, planes conforme a la sección 401(a), 403(a), 403(b), 408, 408A o 457(b) del Código de Impuestos Internos). Filing 2012 taxes for free Sin embargo, estas distribuciones sí se toman en cuenta al calcular el límite del ingreso bruto ajustado modificado. Filing 2012 taxes for free Las distribuciones de un plan de jubilación no calificado se incluyen en los ingresos netos de inversión. Filing 2012 taxes for free Vea el Formulario 8960, Net Investment Income Tax – Individuals, Estates, and Trusts (Impuesto sobre los ingresos netos de inversión –personas físicas, patrimonios y fideicomisos), además de sus instrucciones, disponibles en inglés, para más información. Filing 2012 taxes for free Recordatorio  Comenzando en el año 2013, La American Taxpayer Relief Act (Ley de Alivio para el Contribuyente Estadounidense) de 2012 ha ampliado las reglas para las reinversiones de planes de jubilación a opciones Roth. Filing 2012 taxes for free Conforme a las nuevas disposiciones, más contribuyentes pueden tomar ventaja de esta opción. Filing 2012 taxes for free Si desea más información, vea la sección titulada Arreglos de ahorros para la jubilación designados Roth , tema que se explica más adelante. Filing 2012 taxes for free Introduction Este capítulo explica el trato tributario de las distribuciones que usted reciba de: Una pensión o anualidad para empleados de un plan calificado, Una jubilación por incapacidad y Una anualidad comercial comprada. Filing 2012 taxes for free Lo que no abarca este capítulo. Filing 2012 taxes for free   Este capítulo no abarca los siguientes temas: La Regla General. Filing 2012 taxes for free   Éste es el método que se utiliza generalmente para determinar el trato tributario de ingresos de pensiones y anualidades de planes no calificados (incluidas las anualidades comerciales). Filing 2012 taxes for free Para un plan calificado, generalmente no se puede usar la Regla General a menos que la fecha de inicio de su anualidad sea anterior al 19 de noviembre de 1996. Filing 2012 taxes for free Para más información sobre la Regla General, vea la Publicación 939, General Rule for Pensions and Annuities (Regla general para pensiones y anualidades), en inglés. Filing 2012 taxes for free Arreglos de ahorros para la jubilación (IRA, por sus siglas en inglés). Filing 2012 taxes for free   La información acerca del trato tributario de las cantidades que reciba de un arreglo IRA se encuentra en el capítulo 17 . Filing 2012 taxes for free Beneficios de la jubilación del gobierno federal. Filing 2012 taxes for free    Si es jubilado del gobierno federal (jubilación regular, por fases o por incapacidad), consulte la Publicación 721, Tax Guide to U. Filing 2012 taxes for free S. Filing 2012 taxes for free Civil Service Retirement Benefits (Guía tributaria para beneficios de jubilación del gobierno federal de los Estados Unidos), en inglés. Filing 2012 taxes for free La Publicación 721 también contiene la información que necesita si es sobreviviente o beneficiario de un empleado o jubilado federal que haya fallecido. Filing 2012 taxes for free Useful Items - You may want to see: Publicación 575 Pension and Annuity Income (Ingreso de pensiones y anualidades), en inglés 721 Tax Guide to U. Filing 2012 taxes for free S. Filing 2012 taxes for free Civil Service Retirement Benefits (Guía tributaria para beneficios de jubilación del gobierno federal de los Estados Unidos), en inglés 939 General Rule for Pensions and Annuities (Regla general para pensiones y anualidades), en inglés Formulario (e Instrucciones) W-4P Withholding Certificate for Pension or Annuity Payments (Certificado de retenciones para pagos de pensiones o anualidades), en inglés 1099-R Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. Filing 2012 taxes for free (Distribuciones de pensiones, anualidades, planes de jubilación o de participación en las ganancias, arreglos de ahorros para la jubilación, contratos de seguros, etc. Filing 2012 taxes for free ), en inglés 4972 Tax on Lump-Sum Distributions (Impuesto sobre distribuciones de suma global), en inglés 5329 Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts (Impuestos adicionales sobre planes calificados (incluidos los arreglos de ahorros para la jubilación) y otras cuentas con beneficios tributarios), en inglés Información General Arreglos de ahorros para la jubilación designados Roth. Filing 2012 taxes for free   Un arreglo de ahorros para la jubilación designado Roth es una cuenta aparte creada dentro de un programa calificado de aportaciones a un arreglo Roth que permite a los participantes optar a que la totalidad o parte de sus aplazamientos electivos a un plan 401(k), 403(b) o 457(b) se consideren aportaciones hechas a un arreglo Roth. Filing 2012 taxes for free Los aplazamientos electivos que se consideran aportaciones a un arreglo Roth se incluyen en los ingresos. Filing 2012 taxes for free Sin embargo, las distribuciones calificadas no se incluyen en los ingresos. Filing 2012 taxes for free Vea la Publicación 575, en inglés, para más información. Filing 2012 taxes for free Reinversiones en arreglos de ahorros para la jubilación designados Roth IRA dentro del mismo plan. Filing 2012 taxes for free   Si usted es participante en un plan de tipo 401(k), 403(b) o 457(b), es posible que pueda reinvertir fondos de dichos planes en un arreglo de ahorros para la jubilación designado Roth dentro del mismo plan. Filing 2012 taxes for free Se tiene que incluir en los ingresos la reinversión de cantidades libres de impuestos. Filing 2012 taxes for free Consulte la Publicación 575, en inglés, para más información. Filing 2012 taxes for free Más de un programa. Filing 2012 taxes for free   Si recibe beneficios de más de un programa bajo un fideicomiso o plan de su empleador, como un plan de pensiones y un plan de participación en las ganancias, es posible que tenga que calcular por separado la parte sujeta a impuestos de cada pensión o contrato de anualidad. Filing 2012 taxes for free Su antiguo empleador o el administrador del plan debe poder indicarle si tiene más de un contrato de pensión o anualidad. Filing 2012 taxes for free Plan de compensación diferida conforme a la sección 457. Filing 2012 taxes for free   Si usted trabaja para el gobierno local o estatal o para una organización exenta de impuestos, podría participar en un plan de compensación diferida conforme a la sección 457. Filing 2012 taxes for free Si su plan cumple los requisitos, usted no paga ahora impuestos sobre los sueldos que se difieran bajo el plan ni sobre las utilidades recibidas de las inversiones hechas por el plan con los sueldos diferidos. Filing 2012 taxes for free Por lo general, usted paga impuestos sobre las cantidades diferidas en un plan local o estatal que cumpla los requisitos sólo cuando se distribuyen del plan. Filing 2012 taxes for free Usted paga impuestos en las cantidades diferidas de un plan de una organización exenta de impuestos cuando éstas son distribuidas o de otra manera están disponibles a usted. Filing 2012 taxes for free   Su plan 457(b) puede tener una opción para un arreglo de ahorros para la jubilación designado Roth. Filing 2012 taxes for free De ser así, quizás pueda reinvertir cantidades al arreglo de ahorros para la jubilación designado Roth o hacer aportaciones. Filing 2012 taxes for free Los aplazamientos electivos a un arreglo de ahorros para la jubilación designado Roth se incluyen en su ingreso. Filing 2012 taxes for free Las distribuciones calificadas de un arreglo designado Roth no están sujetas a impuestos. Filing 2012 taxes for free   Este capítulo explica el tratamiento tributario de los beneficios de un plan creado al amparo de la sección 457, pero no cubre el trato de las cantidades diferidas. Filing 2012 taxes for free Para más información acerca de las cantidades diferidas de planes conforme a la sección 457, vea Retirement Plan Contributions (Aportaciones a un plan de jubilación) bajo Employee Compensation (Compensación del empleado), en la Publicación 525, Taxable and Nontaxable Income (Ingresos tributables y no tributables), en inglés. Filing 2012 taxes for free   Para obtener información general acerca de planes de compensación diferida, vea Section 457 Deferred Compensation Plans (Planes de compensación diferida conforme a la sección 457), en la Publicación 575, en inglés. Filing 2012 taxes for free Pensiones por incapacidad. Filing 2012 taxes for free   Si se jubiló por incapacidad, generalmente tiene que incluir en los ingresos toda pensión por incapacidad que reciba conforme a un plan que pague su empleador. Filing 2012 taxes for free Tiene que declarar como salario los pagos por incapacidad sujetos a impuestos en la línea 7 del Formulario 1040 o del Formulario 1040A hasta que alcance la edad mínima de jubilación. Filing 2012 taxes for free En general, la edad mínima de jubilación corresponde a la edad en que puede recibir una pensión o anualidad por primera vez si no está incapacitado. Filing 2012 taxes for free    Quizás tenga derecho a un crédito tributario si estaba total y permanentemente incapacitado cuando se jubiló. Filing 2012 taxes for free Para obtener información sobre el crédito para ancianos o incapacitados, vea el capítulo 33 . Filing 2012 taxes for free   A partir del día después de cumplir la edad mínima de jubilación, los pagos que reciba están sujetos a impuestos en calidad de pensión o anualidad. Filing 2012 taxes for free Declare los pagos en las líneas 16a y 16b del Formulario 1040 o en las líneas 12a y 12b del Formulario 1040A. Filing 2012 taxes for free    Los pagos de incapacidad por lesiones causadas directamente por un ataque terrorista dirigido contra los Estados Unidos (o sus aliados) no se incluyen en los ingresos. Filing 2012 taxes for free Para obtener más información acerca de los pagos a sobrevivientes de ataques terroristas, consulte la Publicación 3920, Tax Relief for Victims of Terrorist Attacks (Alivio de impuestos para víctimas de ataques terroristas), en inglés. Filing 2012 taxes for free   Para obtener más información sobre cómo declarar pensiones por incapacidad, incluyendo pensiones militares y otras pensiones gubernamentales por incapacidad, consulte el capítulo 5 . Filing 2012 taxes for free Funcionarios jubilados del sector de la seguridad pública. Filing 2012 taxes for free   Un funcionario jubilado del sector de seguridad pública que reúna los requisitos puede optar por excluir de sus ingresos distribuciones de hasta $3,000 efectuadas directamente de un plan de jubilación del gobierno a un proveedor de seguro de accidente, salud o de cuidado por incapacidad a largo plazo. Filing 2012 taxes for free Vea Insurance Premiums for Retired Public Safety Officers (Primas de seguros para funcionarios jubilados del sector de seguridad pública), en la Publicación 575, en inglés, para más información. Filing 2012 taxes for free Beneficios de jubilación de empleados ferroviarios. Filing 2012 taxes for free   Para fines tributarios, una parte de los beneficios de la jubilación de empleados ferroviarios recibidos se considera beneficios del Seguro Social y otra parte se considera pensión del empleado. Filing 2012 taxes for free Para obtener información acerca de los beneficios de jubilación de empleados ferroviarios considerados beneficios del Seguro Social, consulte la Publicación 915, Social Security and Equivalent Railroad Retirement Benefits (Beneficios del Seguro Social y beneficios equivalentes de la jubilación de empleados ferroviarios), en inglés. Filing 2012 taxes for free Para obtener información acerca de los beneficios de jubilación de empleados ferroviarios considerados pensión del empleado, consulte Railroad Retirement Benefits (Beneficios de jubilación de empleados ferroviarios) en la Publicación 575, en inglés. Filing 2012 taxes for free Retención e impuesto estimado. Filing 2012 taxes for free   El pagador del plan de pensiones, participación en las ganancias, bonificación de acciones, anualidad o compensación diferida retendrá impuestos sobre el ingreso correspondiente a las partes sujetas a impuestos de las cantidades que se le han pagado a usted. Filing 2012 taxes for free Puede indicarle al pagador la cantidad de la retención a realizar al presentar el Formulario W-4P. Filing 2012 taxes for free Si escoge que no le retengan impuestos o si no le retienen suficientes impuestos, tal vez tenga que pagar un impuesto estimado. Filing 2012 taxes for free   Si se le paga una distribución con derecho a reinversión, no puede optar por que no le retengan impuestos. Filing 2012 taxes for free Generalmente, se le retendrá el 20%, pero no hay retención sobre una reinversión directa de una distribución con derecho a reinversión. Filing 2012 taxes for free Consulte Opción de reinversión directa en Reinversiones, más adelante. Filing 2012 taxes for free   Para obtener más información, consulte Pensiones y Anualidades bajo Retención de Impuesto para el Año 2014, en el capítulo 4. Filing 2012 taxes for free Planes calificados para trabajadores por cuenta propia. Filing 2012 taxes for free   En ciertas ocasiones, los planes calificados establecidos por trabajadores por cuenta propia se denominan planes Keogh o H. Filing 2012 taxes for free R. Filing 2012 taxes for free 10. Filing 2012 taxes for free Los planes calificados pueden ser establecidos por propietarios únicos, sociedades colectivas (pero no un socio) y sociedades anónimas. Filing 2012 taxes for free Pueden cubrir a personas que trabajen por cuenta propia, como el propietario único o socios, y empleados regulares (de acuerdo con el derecho consuetudinario). Filing 2012 taxes for free    Por lo general, las distribuciones de un plan calificado están sujetas a impuestos en su totalidad porque la mayoría de los beneficiarios no tiene una base de costos. Filing 2012 taxes for free No obstante, si tiene una inversión (costo) en el plan, sus pagos de pensión o anualidad de un plan calificado se gravan conforme al Método Simplificado. Filing 2012 taxes for free Para obtener más información acerca de los planes calificados, consulte la Publicación 560, Retirement Plans for Small Business (Planes de jubilación para pequeños negocios), en inglés. Filing 2012 taxes for free Anualidades compradas. Filing 2012 taxes for free   Si recibe pagos de pensión o anualidad de un contrato de anualidad de compra privada de una organización comercial, como una compañía de seguros, normalmente tiene que usar la Regla General para calcular la parte exenta de impuestos de cada pago de anualidad. Filing 2012 taxes for free Para obtener más información acerca de la Regla General, consulte la Publicación 939, en inglés. Filing 2012 taxes for free Asimismo, consulte Variable Annuities (Anualidades variables) en la Publicación 575, en inglés, para las disposiciones especiales que se aplican a estos contratos de anualidad. Filing 2012 taxes for free Préstamos. Filing 2012 taxes for free   Si toma un préstamo de su plan de pensiones, tiene que tratar el préstamo como una distribución no periódica salvo que se den ciertas excepciones. Filing 2012 taxes for free Este trato también le aplica a cualquier préstamo obtenido conforme a un contrato comprado bajo su plan de jubilación y al valor de cualquier parte de su interés en el plan o contrato que ha usado como colateral o que ha asignado. Filing 2012 taxes for free Esto significa que tiene que incluir en los ingresos la totalidad o parte de la cantidad obtenida en préstamo. Filing 2012 taxes for free Aun si no tiene que tratar el préstamo como una distribución no periódica, en algunas situaciones quizás no pueda deducir los intereses sobre el préstamo. Filing 2012 taxes for free Para más detalles, vea Loans Treated as Distributions (Préstamos tratados como distribuciones), en la Publicación 575, en inglés. Filing 2012 taxes for free Para obtener más información acerca de la posibilidad de deducción de intereses, vea el capítulo 23 . Filing 2012 taxes for free Intercambio exento de impuestos. Filing 2012 taxes for free   No se reconocen ganancias ni pérdidas en un intercambio de un contrato de anualidad por otro contrato de anualidad si el asegurado o pensionista sigue siendo el mismo. Filing 2012 taxes for free Sin embargo, la ganancia sobre el intercambio de un contrato de anualidad se considera ingresos ordinarios si la ganancia se debe a los intereses acumulados en el contrato y el intercambio del contrato de anualidad es por un seguro de vida o contrato de seguro dotal. Filing 2012 taxes for free Consulte Transfers of Annuity Contracts (Traspasos de contratos de anualidad), en la Publicación 575, en inglés, para obtener más información acerca del intercambio de contratos de anualidad. Filing 2012 taxes for free Cómo Hacer la Declaración Si presenta el Formulario 1040, declare la anualidad total en la línea 16a y la parte sujeta a impuestos en la línea 16b. Filing 2012 taxes for free Si la pensión o anualidad está íntegramente sujeta a impuestos, anótela en la línea 16b; no anote nada en la línea 16a. Filing 2012 taxes for free Si presenta el Formulario 1040A, declare su anualidad total en la línea 12a y la parte sujeta a impuestos en la línea 12b. Filing 2012 taxes for free Si la pensión o anualidad está íntegramente sujeta a impuestos, anótela en la línea 12b; no anote nada en la línea 12a. Filing 2012 taxes for free Más de una anualidad. Filing 2012 taxes for free   Si recibe más de una anualidad y al menos una de ellas no está integramente sujeta a impuestos, anote la cantidad total recibida de todas las anualidades en la línea 16a del Formulario 1040 o en la línea 12a del Formulario 1040A. Filing 2012 taxes for free Anote la parte sujeta a impuestos en la línea 16b del Formulario 1040 o en la línea 12b del Formulario 1040A. Filing 2012 taxes for free Si todas las anualidades que usted reciba están integramente sujetas a impuestos, anote la suma de dichas anualidades en la línea 16b del Formulario 1040 o en la línea 12b del Formulario 1040A. Filing 2012 taxes for free Declaración conjunta. Filing 2012 taxes for free   Si presenta una declaración conjunta y usted y su cónyuge reciben, cada uno, una o más pensiones o anualidades, declare el total de las pensiones y anualidades en la línea 16a del Formulario 1040 o en la línea 12a del Formulario 1040A. Filing 2012 taxes for free Declare la parte sujeta a impuestos en la línea 16b del Formulario 1040 o en la línea 12b del Formulario 1040A. Filing 2012 taxes for free Costo (Inversión en el Contrato) Antes de calcular qué parte, si la hay, de una distribución de su pensión o anualidad es tributable, tiene que determinar el costo (su inversión en el contrato) de la pensión o anualidad. Filing 2012 taxes for free Su costo total en el plan incluye la prima total, aportaciones y otras cantidades que haya pagado, en fin, todo lo que ha pagado. Filing 2012 taxes for free Asimismo, incluye las cantidades que su empleador pagó y que eran tributables para usted al momento de dicho pago. Filing 2012 taxes for free El costo no incluye cantidades que haya deducido o excluido de los ingresos. Filing 2012 taxes for free De este costo total pagado, reste todo reembolso de primas, descuentos, dividendos, préstamos no reembolsados u otras cantidades exentas de impuestos que haya recibido en la fecha de inicio de la anualidad o en la fecha en que recibió su primer pago, la que ocurra más tarde. Filing 2012 taxes for free La fecha de inicio de la anualidad es el primer día del primer período para el cual usted recibe un pago o la fecha en que se fijan las obligaciones del plan, lo que ocurra más tarde. Filing 2012 taxes for free Arreglos de ahorros para la jubilación designados Roth. Filing 2012 taxes for free   Su costo en estos arreglos se compone de las aportaciones designadas Roth que se incluyeron en sus ingresos como salario sujeto a los requisitos de retención de impuestos correspondientes. Filing 2012 taxes for free Su costo también incluye toda inversión en arreglos de ahorros para la jubilación Roth dentro del mismo plan que incluyó en sus ingresos. Filing 2012 taxes for free Aportaciones de empleo en el extranjero. Filing 2012 taxes for free   Si usted trabajó en un país extranjero y se hicieron aportaciones a su plan de jubilación, se aplican reglas especiales al determinar su costo. Filing 2012 taxes for free Consulte Foreign employment contributions (Aportaciones de empleo en el extranjero), bajo el tema Cost (Investment in the Contract) (Costo (Inversión en el contrato)), en inglés, en la Publicación 575, en inglés. Filing 2012 taxes for free Tributación de Pagos Periódicos Pagos íntegramente tributables. Filing 2012 taxes for free   Generalmente, si no pagó ninguna parte del costo de su pensión o anualidad del empleado y su empleador no retuvo parte del costo de su pago mientras usted trabajaba, las cantidades que recibe cada año son íntegramente tributables. Filing 2012 taxes for free Tiene que declararlas en la declaración del impuesto sobre los ingresos. Filing 2012 taxes for free Pagos parcialmente tributables. Filing 2012 taxes for free   Si pagó parte del costo de su pensión o anualidad, no se gravará la parte de la pensión o anualidad que usted reciba y que represente un rendimiento de su costo. Filing 2012 taxes for free El resto de la cantidad que reciba suele ser tributable. Filing 2012 taxes for free Debe calcular las partes exentas y no exentas de impuestos de sus pagos de pensiones o anualidades conforme al Método Simplificado o a la Regla General. Filing 2012 taxes for free La fecha de inicio de la anualidad determina qué método debe o puede usar. Filing 2012 taxes for free   Si la fecha de inicio de la anualidad es posterior al 18 de noviembre de 1996 y sus pagos son de un plan calificado, tiene que usar el Método Simplificado. Filing 2012 taxes for free Generalmente, tiene que usar la Regla General si su anualidad es pagada bajo un plan no calificado y usted no puede usar este método si su anualidad se pagó bajo un plan calificado. Filing 2012 taxes for free   Si tenía más de una pensión o anualidad parcialmente tributable, calcule por separado la parte exenta y no exenta de impuestos. Filing 2012 taxes for free   Si la anualidad se paga en virtud de un plan calificado y la fecha de inicio de la anualidad es posterior al 1 de julio de 1986 y anterior al 19 de noviembre de 1996, puede escoger usar la Regla General o el Método Simplificado. Filing 2012 taxes for free Límite de exclusión. Filing 2012 taxes for free   La fecha de inicio de la anualidad determina la cantidad total de pagos de anualidad que puede excluir de los ingresos tributables en el transcurso de los años. Filing 2012 taxes for free Una vez que determina la fecha de inicio de su anualidad, ésta no cambia. Filing 2012 taxes for free Si usted calcula la parte tributable del pago de su anualidad usando la Hoja de Trabajo del Método Simplificado, la fecha de inicio de la anualidad determina el período de recuperación para su costo. Filing 2012 taxes for free Este período de recuperación comienza en la fecha de inicio de su anualidad y no se influye por la fecha en que primero completó la hoja de trabajo. Filing 2012 taxes for free Exclusión limitada al costo. Filing 2012 taxes for free   Si la fecha de inicio de la anualidad es posterior a 1986, la cantidad total del ingreso de anualidades que puede excluir en el transcurso de los años como recuperación del costo no puede ser superior al costo total. Filing 2012 taxes for free Todo costo no recuperado en el momento de su muerte (o la muerte del último pensionista) se permite como deducción detallada miscelánea en la declaración final del fallecido. Filing 2012 taxes for free Esta deducción no está sujeta al límite del 2% del ingreso bruto ajustado. Filing 2012 taxes for free Exclusión no limitada al costo. Filing 2012 taxes for free   Si la fecha de inicio de la anualidad es anterior a 1987, puede continuar optando a la exclusión mensual en tanto siga recibiendo su anualidad. Filing 2012 taxes for free Si optó por una anualidad conjunta y de sobreviviente, su sobreviviente puede continuar optando a la exclusión del sobreviviente calculada a partir de la fecha de inicio de la anualidad. Filing 2012 taxes for free La exclusión total podría ser mayor al costo en el que incurra. Filing 2012 taxes for free Método Simplificado Conforme al Método Simplificado, la parte exenta de impuestos de cada pago de la anualidad se calcula dividiendo el costo entre el número total previsto de pagos mensuales. Filing 2012 taxes for free Para una anualidad pagada durante la vida de los pensionistas, este número se basa en las edades de los pensionistas en la fecha de inicio de la anualidad y se determina a partir de una tabla. Filing 2012 taxes for free Para cualquier otra anualidad, este número corresponde al número de pagos mensuales de la anualidad en virtud del contrato. Filing 2012 taxes for free Quién tiene que usar el Método Simplificado. Filing 2012 taxes for free   Usted tiene que usar el Método Simplificado si la fecha de inicio de la anualidad es posterior al 18 de noviembre de 1996 y cumple ambos requisitos: Recibe pagos de pensiones o anualidades de un plan calificado del empleado, anualidad calificada del empleado o plan de anualidad con refugio tributario (plan conforme a la sección 403(b)) y En la fecha de inicio de su anualidad, usted tenía menos de 75 de años de edad o tenía derecho a pagos garantizados por menos de 5 años. Filing 2012 taxes for free Pagos garantizados. Filing 2012 taxes for free   Su contrato de anualidad provee pagos garantizados si un número mínimo de pagos o una cantidad mínima (por ejemplo, la cantidad de su inversión) son pagados, aun si usted y algún pensionista sobreviviente no viven hasta que puedan recibir el mínimo. Filing 2012 taxes for free Si la cantidad mínima es inferior a la cantidad total de pagos que usted va a recibir, salvo que fallezca, durante los primeros 5 años posteriores al comienzo de los pagos (calculado omitiendo todos los aumentos en los pagos), tiene derecho a menos de 5 años de pagos garantizados. Filing 2012 taxes for free Hoja de Trabajo 10-A. Filing 2012 taxes for free Hoja de Trabajo del Método Simplificado para Guillermo Rojas. Filing 2012 taxes for free 1. Filing 2012 taxes for free Anote el total de pagos de pensión o anualidad recibidos este año. Filing 2012 taxes for free Asimismo, sume esta cantidad al total de la línea 16a del Formulario 1040 o de la línea 12a del Formulario 1040A 1. Filing 2012 taxes for free 14,400 2. Filing 2012 taxes for free Anote su costo en el plan (contrato) en la fecha de inicio de la anualidad más toda exclusión por beneficios en caso de fallecimiento*. Filing 2012 taxes for free Vea Costo (Inversión en el Contrato) , anteriormente 2. Filing 2012 taxes for free 31,000       Nota: Si la fecha de inicio de la anualidad fue antes del presente año y completó esta hoja de trabajo el año pasado, omita la línea 3 y anote la cantidad de la línea 4 de la hoja de trabajo del año pasado en la línea 4 siguiente (aun si la cantidad de la pensión o anualidad ha cambiado). Filing 2012 taxes for free De lo contrario, pase a la línea 3. Filing 2012 taxes for free         3. Filing 2012 taxes for free Anote el número correspondiente de la Tabla 1, presentada a continuación. Filing 2012 taxes for free Sin embargo, si la fecha de inicio de la anualidad fue después de 1997 y los pagos se realizarán durante su vida y la vida de su beneficiario, anote el número correspondiente de la Tabla 2 presentada a continuación 3. Filing 2012 taxes for free 310     4. Filing 2012 taxes for free Divida la línea 2 entre la cantidad anotada en la línea 3 4. Filing 2012 taxes for free 100     5. Filing 2012 taxes for free Multiplique la línea 4 por el número de meses durante los que se realizaron los pagos del presente año. Filing 2012 taxes for free Si la fecha de inicio de la anualidad fue antes de 1987, anote esta cantidad en la línea 8 más adelante y omita las líneas 6, 7, 10 y 11. Filing 2012 taxes for free De lo contrario, pase a la línea 6 . Filing 2012 taxes for free 5. Filing 2012 taxes for free 1,200     6. Filing 2012 taxes for free Anote todas las cantidades recuperadas previamente exentas de impuestos en los años siguientes a 1986. Filing 2012 taxes for free Esta cantidad aparece en la línea 10 de la hoja de trabajo del año pasado 6. Filing 2012 taxes for free −0−     7. Filing 2012 taxes for free Reste la línea 6 de la 2 7. Filing 2012 taxes for free 31,000     8. Filing 2012 taxes for free De las líneas 5 y 7, anote la cantidad que sea menor 8. Filing 2012 taxes for free 1,200 9. Filing 2012 taxes for free Cantidad tributable para el año. Filing 2012 taxes for free Reste la línea 8 de la línea 1. Filing 2012 taxes for free Anote el resultado, pero éste no puede ser menor que cero. Filing 2012 taxes for free Asimismo, sume esta cantidad al total de la línea 16b del Formulario 1040 o de la línea 12b del Formulario 1040A 9. Filing 2012 taxes for free 13,200   Nota: Si el Formulario 1099-R muestra una cantidad tributable mayor, use la cantidad de la línea 9 en su lugar. Filing 2012 taxes for free Si es funcionario jubilado del sector de seguridad pública, vea Insurance Premiums for Retired Public Safety Officers (Primas de Seguros para Funcionarios Jubilados del Sector de Seguridad Pública) en la Publicación 575, en inglés, antes de anotar una cantidad en la declaración de impuestos. Filing 2012 taxes for free     10. Filing 2012 taxes for free ¿La fecha de inicio de su anualidad fue anterior a 1987? □ Sí. Filing 2012 taxes for free NO SIGA. Filing 2012 taxes for free No llene el resto de esta hoja de trabajo. Filing 2012 taxes for free  ☑ No. Filing 2012 taxes for free Sume las líneas 6 y 8. Filing 2012 taxes for free El resultado es la cantidad recuperada exenta de impuestos hasta el año 2013 inclusive. Filing 2012 taxes for free Necesitará esta cifra si necesita llenar esta hoja de trabajo el año que viene 10. Filing 2012 taxes for free 1,200 11. Filing 2012 taxes for free Saldo del costo por recuperar. Filing 2012 taxes for free Reste la línea 10 de la línea 2. Filing 2012 taxes for free Si es cero, no tendrá que llenar esta hoja de trabajo para el año que viene. Filing 2012 taxes for free Los pagos que reciba el año próximo normalmente serán tributables en su totalidad 11. Filing 2012 taxes for free 29,800 TABLA 1 PARA LA LÍNEA 3 ANTERIOR   Y la fecha de inicio de su anualidad fue: SI la edad en la  fecha de inicio de la anualidad era. Filing 2012 taxes for free . Filing 2012 taxes for free . Filing 2012 taxes for free antes del 19 de noviembre de  1996, anote en la línea 3. Filing 2012 taxes for free . Filing 2012 taxes for free . Filing 2012 taxes for free después del 18 de noviembre de  1996, anote en la línea 3. Filing 2012 taxes for free . Filing 2012 taxes for free . Filing 2012 taxes for free 55 años de edad o menos 300 360 56–60 260 310 61–65 240 260 66–70 170 210 71 años de edad o más 120 160 TABLA 2 PARA LA LÍNEA 3 ANTERIOR SI la suma de las edades  en la fecha de inicio  de la anualidad era. Filing 2012 taxes for free . Filing 2012 taxes for free . Filing 2012 taxes for free   ENTONCES anote en la línea 3. Filing 2012 taxes for free . Filing 2012 taxes for free . Filing 2012 taxes for free 110 o menos   410 111–120   360 121–130   310 131–140   260 141 o más   210 * Una exclusión por beneficios en caso de fallecimiento (hasta $5,000) aplicada a ciertos beneficios recibidos por empleados que fallecieron antes del 21 de agosto de 1996. Filing 2012 taxes for free Cómo usar el Método Simplificado. Filing 2012 taxes for free    Complete la Hoja de Trabajo del Método Simplificado de la Publicación 575, en inglés, para calcular la anualidad tributable para 2013. Filing 2012 taxes for free Anualidad sobre una sola vida. Filing 2012 taxes for free    Si la anualidad solamente es pagada durante su vida, utilice la Tabla 1 en la parte inferior de la hoja de trabajo para determinar el número total de pagos mensuales previsto. Filing 2012 taxes for free En la línea 3, anote el número correspondiente a su edad en la fecha de inicio de la anualidad. Filing 2012 taxes for free Anualidad sobre más de una vida. Filing 2012 taxes for free   Si la anualidad es pagada durante la vida de más de una persona, utilice la Tabla 2 en la parte inferior de la hoja de trabajo para determinar el número total de pagos mensuales previsto. Filing 2012 taxes for free Anote en la línea 3 el número indicado en la tabla que es correspondiente a la suma de su edad y la del pensionista sobreviviente más joven en la fecha de inicio de la anualidad. Filing 2012 taxes for free   Sin embargo, si la fecha de inicio de su anualidad comenzó antes de 1998, no utilice la Tabla 2 y no sume las edades de los pensionistas. Filing 2012 taxes for free En vez de hacer eso, debe utilizar la Tabla 1 y anote en la línea 3 el número correspondiente a la edad del pensionista principal en la fecha de inicio de la anualidad. Filing 2012 taxes for free    Asegúrese de guardar una copia de la hoja de trabajo completada, ya que le será de utilidad para calcular su anualidad tributable en el año entrante. Filing 2012 taxes for free Ejemplo. Filing 2012 taxes for free Guillermo Rojas, de 65 años de edad, comenzó a recibir beneficios de jubilación en el año 2013, conforme a una anualidad conjunta y de sobreviviente. Filing 2012 taxes for free La fecha de inicio de la anualidad de Guillermo es el 1 de enero del año 2013. Filing 2012 taxes for free Los beneficios se pagarán durante la vida conjunta de Guillermo y su esposa Marta, de 65 años de edad. Filing 2012 taxes for free Guillermo había aportado $31,000 a un plan calificado y no había recibido distribuciones antes de la fecha de inicio de la anualidad. Filing 2012 taxes for free Guillermo recibirá un beneficio de jubilación de $1,200 mensuales y Marta recibirá un beneficio de sobreviviente mensual de $600 tras la muerte de Guillermo. Filing 2012 taxes for free Guillermo tiene que utilizar el Método Simplificado para calcular su anualidad tributable porque sus pagos provienen de un plan calificado y tiene menos de 75 años de edad. Filing 2012 taxes for free Dado que su anualidad es pagada durante la vida de más de un pensionista, utiliza la suma de su edad y la de Marta y la Tabla 2 que aparece en la parte inferior de la hoja de trabajo para completar la línea 3 de la misma. Filing 2012 taxes for free Su hoja de trabajo completada aparece en la Hoja de Trabajo 10-A . Filing 2012 taxes for free La cantidad mensual exenta de impuestos de Guillermo es $100 ($31,000 ÷ 310), como se indica en la línea 4 de la hoja de trabajo. Filing 2012 taxes for free Al morir Guillermo, si no ha recuperado la totalidad de la inversión de $31,000, Marta también excluirá $100 de su pago mensual de $600. Filing 2012 taxes for free La cantidad total de todos los pagos de anualidad recibidos después de haberse efectuado 310 pagos se tiene que incluir en el ingreso bruto. Filing 2012 taxes for free Si Guillermo y Marta fallecen antes de que se efectúen los 310 pagos, se permitirá una deducción detallada miscelánea por el costo no recuperado en la declaración del impuesto sobre el ingreso final del último en morir. Filing 2012 taxes for free Esta deducción no está sujeta al límite del 2% del ingreso bruto ajustado. Filing 2012 taxes for free Quién tiene que usar la Regla General. Filing 2012 taxes for free   Se tiene que usar la Regla General si se reciben pagos de pensiones o anualidades de: Un plan no calificado (como una anualidad privada, una anualidad comercial comprada o un plan de empleado no calificado) o Un plan calificado si tiene 75 años de edad o más en la fecha de inicio de su anualidad y sus pagos de anualidad están garantizados por un mínimo de 5 años. Filing 2012 taxes for free Anualidad cuya fecha de inicio es anterior al 19 de noviembre de 1996. Filing 2012 taxes for free   Si la fecha de inicio de la anualidad es posterior al 1 de julio de 1986 y anterior al 19 de noviembre de 1996, tuvo que utilizar la Regla General para cualquiera de las circunstancias descritas anteriormente. Filing 2012 taxes for free También tuvo que usarla para toda anualidad de plazo fijo. Filing 2012 taxes for free Si no tuvo que utilizar la Regla General, pudo haber escogido usarla. Filing 2012 taxes for free Si la fecha de inicio de la anualidad es anterior al 2 de julio de 1986, tuvo que usar la Regla General, a menos que haya podido usar la Regla de los Tres Años. Filing 2012 taxes for free   Si tuvo que usar la Regla General (o escogió usarla), debe continuar usándola cada año que recupere su costo. Filing 2012 taxes for free Quién no puede usar la Regla General. Filing 2012 taxes for free   No puede usar la Regla General si recibe su pensión o anualidad de un plan calificado y ninguna de las circunstancias descritas anteriormente corresponde a su caso. Filing 2012 taxes for free Consulte Quién tiene que usar el Método Simplificado , anteriormente. Filing 2012 taxes for free Información adicional. Filing 2012 taxes for free   Para obtener información completa acerca del uso de la Regla General, incluidas las tablas actuariales que necesitará utilizar, consulte la Publicación 939, en inglés. Filing 2012 taxes for free Tributación de Pagos no Periódicos Las distribuciones no periódicas también se conocen como cantidades que no son recibidas como una anualidad. Filing 2012 taxes for free Abarcan todos los pagos que no sean pagos periódicos o distribuciones correctivas. Filing 2012 taxes for free Ejemplos de pagos no periódicos son retiros en efectivo, distribuciones de las ganancias de utilidad corriente, ciertos préstamos y el valor de un contrato de anualidad transferido sin consideración completa y adecuada. Filing 2012 taxes for free Distribuciones correctivas de aportaciones en exceso hechas a un plan de jubilación. Filing 2012 taxes for free   Normalmente, si las aportaciones hechas para usted durante el año a determinados planes de jubilación exceden ciertos límites, usted es responsable de pagar impuestos sobre el excedente. Filing 2012 taxes for free Para corregir la cantidad en exceso, es posible que el plan se la devuelva (junto con todos los ingresos devengados sobre el mismo). Filing 2012 taxes for free Para información acerca de los límites sobre aportaciones a un plan de jubilación y cómo declarar distribuciones correctivas, vea Retirement Plan Contributions (Aportaciones a un plan de jubilación), bajo Employee Compensation (Compensación del empleado), en la Publicación 525, en inglés. Filing 2012 taxes for free Cómo calcular el monto sujeto a impuestos de los pagos que no son periódicos. Filing 2012 taxes for free   El método que usted usa para calcular el monto sujeto a impuestos de una distribución no periódica depende de si la misma se hace antes de la fecha de inicio de la anualidad, o si se hace en o después de la fecha de inicio de la anualidad. Filing 2012 taxes for free Si se hace la distribución antes de la fecha de inicio de la anualidad, el trato tributario de la misma también depende de si se hace conforme a un plan calificado o no calificado. Filing 2012 taxes for free Si se hace conforme a un plan no calificado, su trato tributario dependerá de si le da fin completamente al contrato, si se recibe bajo ciertos seguros de vida o contratos de seguro dotal o si se puede asignar a una cantidad que usted invirtió antes del 14 de agosto de 1982. Filing 2012 taxes for free Fecha de inicio de la anualidad. Filing 2012 taxes for free   La fecha de inicio de la anualidad es el primer día del primer período para el cual usted recibe un pago de anualidad según estipula el contrato, o la fecha en que la obligación estipulada en el contrato se convierta en obligación fija, la que ocurra más tarde. Filing 2012 taxes for free Distribución en la fecha de inicio de la anualidad o después de dicha fecha. Filing 2012 taxes for free   Si recibe un pago no periódico procedente de su contrato de anualidad en, o después de, la fecha de inicio de la anualidad, generalmente tiene que incluir la totalidad del mismo en su ingreso bruto. Filing 2012 taxes for free Distribución antes de la fecha de inicio de la anualidad. Filing 2012 taxes for free   Si recibe una distribución que no sea periódica antes de la fecha de inicio de la anualidad proveniente de un plan de jubilación calificado, generalmente puede asignar sólo una parte de dicha distribución al costo del contrato. Filing 2012 taxes for free Excluya del ingreso bruto la parte que asigne al costo. Filing 2012 taxes for free Incluya el resto en su ingreso bruto. Filing 2012 taxes for free   Si recibe una distribución no periódica antes de la fecha de inicio de la anualidad proveniente de un plan que no sea un plan de jubilación calificado (plan no calificado), por lo general la misma se asigna primero a las ganancias (la parte sujeta a impuestos) y luego al costo del contrato (la parte exenta de impuestos). Filing 2012 taxes for free Esta regla de asignación se aplica, por ejemplo, a un contrato de anualidad comercial que haya comprado directamente del emisor. Filing 2012 taxes for free    Las distribuciones de los planes no calificados están sujetas al impuesto sobre los ingresos netos de inversión. Filing 2012 taxes for free Vea las Instrucciones para el Formulario 8960, disponibles en inglés. Filing 2012 taxes for free   Para más información, vea Figuring the Taxable Amount (Cómo calcular el monto tributable), bajo Taxation of Nonperiodic Payments (Tributación de pagos no periódicos), en la Publicación 575, en inglés. Filing 2012 taxes for free Distribuciones de Suma Global Esta sección, que abarca el tema de las distribuciones de sumas globales, sólo aplica si el participante del plan nació antes del 2 de enero de 1936. Filing 2012 taxes for free Si el participante nació después del 1 de enero de 1936, la cantidad tributable de este pago no periódico se declara tal como se explicó anteriormente. Filing 2012 taxes for free Una distribución de suma global es la distribución o el pago, en un año tributario, del saldo total de un participante de un plan, de todos los planes del empleador calificados del mismo tipo (por ejemplo, planes de pensiones, de participación en las ganancias o de bonificación de acciones). Filing 2012 taxes for free La distribución de un plan no calificado (como una anualidad comercial de compra privada o un plan de compensación diferida de la sección 457 de un gobierno estatal o local o de una organización exenta de impuestos) no se puede considerar distribución de suma global. Filing 2012 taxes for free El saldo total de un participante de un plan no incluye ciertas cantidades a las cuales perdió el derecho a ellas. Filing 2012 taxes for free Tampoco incluye las aportaciones voluntarias del empleado que sean deducibles, permitidas por el plan después de 1981 y antes de 1987. Filing 2012 taxes for free Para obtener más información acerca de las distribuciones que no se pueden considerar distribuciones de suma global, consulte Distributions that do not qualify (Distribuciones que no reúnen los requisitos), bajo Lump-Sum Distributions (Distribuciones de suma global) en la Publicación 575, en inglés. Filing 2012 taxes for free Si recibe una distribución de suma global de un plan de empleado calificado o anualidad de empleado calificada y el participante del plan nació antes del 2 de enero de 1936, tal vez pueda elegir métodos alternos para el cálculo del impuesto sobre la distribución. Filing 2012 taxes for free La parte de la participación activa en el plan antes de 1974 puede considerarse ganancia de capital sujeta a una tasa de impuesto del 20%. Filing 2012 taxes for free La parte de la participación después de 1973 (y toda parte de la participación antes de 1974 que no declare como ganancia de capital) constituye ingresos ordinarios. Filing 2012 taxes for free Tal vez pueda usar la opción de impuesto de 10 años, la cual se explica más adelante, para calcular los impuestos sobre la parte de los ingresos ordinarios. Filing 2012 taxes for free Use el Formulario 4972 para calcular el impuesto separado sobre una distribución de suma global mediante los métodos a los que tiene opción. Filing 2012 taxes for free El impuesto calculado en el Formulario 4972 se suma al impuesto básico calculado en otros ingresos. Filing 2012 taxes for free Esto puede dar origen a un impuesto menor que el que usted pagaría si incluye la cantidad tributable de la distribución como ingresos ordinarios al calcular el impuesto básico. Filing 2012 taxes for free Cómo tratar la distribución. Filing 2012 taxes for free   Si recibe una distribución de suma global, podría tratar la parte tributable basándose en una de las siguientes opciones: Declare la parte de la distribución de la participación antes de 1974 como ganancia de capital (si reúne los requisitos) y la parte de la participación después de 1973 como ingresos ordinarios. Filing 2012 taxes for free Declare la parte de la distribución de la participación antes de 1974 como ganancia de capital (si reúne los requisitos) y use la opción de impuesto de 10 años para calcular los impuestos sobre la parte de la participación después de 1973 (si reúne los requisitos). Filing 2012 taxes for free Use la opción de impuesto de 10 años para calcular los impuestos sobre la cantidad tributable total (si reúne los requisitos). Filing 2012 taxes for free Reinvierta toda o parte de la distribución. Filing 2012 taxes for free Consulte Reinversiones , más adelante. Filing 2012 taxes for free Actualmente no se deben impuestos sobre la parte reinvertida. Filing 2012 taxes for free Declare toda parte no reinvertida como ingresos ordinarios. Filing 2012 taxes for free Declare toda parte tributable de la distribución como ingresos ordinarios en la declaración de impuestos. Filing 2012 taxes for free   Las tres primeras opciones se explican en los siguientes párrafos. Filing 2012 taxes for free Opción al trato de suma global. Filing 2012 taxes for free   Puede decidir usar la opción de impuesto de 10 años o el trato de ganancia de capital solamente una vez después de 1986 para todo participante de un plan. Filing 2012 taxes for free Si escoge esta alternativa, no puede optar a ninguno de estos dos tratos para futuras distribuciones destinadas al participante. Filing 2012 taxes for free Partes de la distribución sujetas a impuestos y exentas de impuestos. Filing 2012 taxes for free    La parte sujeta a impuestos de una distribución de suma global corresponde a las aportaciones del empleador y al ingreso ganado sobre su cuenta. Filing 2012 taxes for free Puede recuperar el costo de la suma global y toda revalorización neta no realizada (NUA, por sus siglas en inglés) en los valores bursátiles exentos de impuestos del empleador. Filing 2012 taxes for free Costo. Filing 2012 taxes for free   En general, su costo es el total de: Las aportaciones al plan no deducibles realizadas por el participante del plan, Los costos tributables del participante del plan de un contrato de seguro de vida ya pagado, Todas las aportaciones del empleador que hayan sido tributables para el participante del plan y Reembolsos de préstamos que hayan sido tributables para el participante del plan. Filing 2012 taxes for free Tiene que descontar de este costo las cantidades previamente pagadas exentas de impuestos. Filing 2012 taxes for free Revalorización neta no realizada (NUA, por sus siglas en inglés). Filing 2012 taxes for free   Por lo general, la NUA en los valores bursátiles del empleador (recuadro 6 del Formulario 1099-R) recibida como parte de una distribución de suma global está exenta de impuestos hasta que usted venda o intercambie los valores bursátiles. Filing 2012 taxes for free Para obtener más información, consulte Distributions of employer securities (Distribuciones de valores bursátiles del empleador), bajo Taxation of Nonperiodic Payments (Tributación de pagos no periódicos), en la Publicación 575, en inglés. Filing 2012 taxes for free Trato de Ganancias de Capital El trato de ganancias de capital solamente se aplica a la parte tributable de una distribución de suma global originada por la participación en el plan antes de 1974. Filing 2012 taxes for free La cantidad tratada como ganancia de capital se grava a una tasa del 20%. Filing 2012 taxes for free Puede elegir este trato solamente una vez para un participante de un plan y sólo si éste nació antes del 2 de enero de 1936. Filing 2012 taxes for free Complete la Parte II del Formulario 4972 para elegir la opción de ganancia de capital del 20%. Filing 2012 taxes for free Para obtener más información, vea Capital Gain Treatment (Trato de ganancias de capital) bajo Lump-Sum Distributions (Distribuciones de suma global), en la Publicación 575, en inglés. Filing 2012 taxes for free Opción de Impuesto de 10 Años La opción de impuesto de 10 años es una fórmula especial que se usa para calcular por separado un impuesto sobre la parte de ingresos ordinarios de una distribución de suma global. Filing 2012 taxes for free Usted paga el impuesto solamente una vez, para el año en que recibe la distribución, y no durante los siguientes 10 años. Filing 2012 taxes for free Puede elegir este trato solamente una vez para un participante de un plan y sólo si éste nació antes del 2 de enero de 1936. Filing 2012 taxes for free La parte de ingresos ordinarios de la distribución corresponde a la cantidad que se indica en el recuadro 2a del Formulario 1099-R que le entregó el pagador, menos la cantidad, si la hay, que se indica en el recuadro 3. Filing 2012 taxes for free También puede tratar la parte de la ganancia de capital de la distribución (recuadro 3 del Formulario 1099-R) como ingresos ordinarios para la opción de impuesto de 10 años si no elige el trato de ganancias de capital para esa parte. Filing 2012 taxes for free Complete la Parte III del Formulario 4972 para elegir la opción de impuesto de 10 años. Filing 2012 taxes for free Para calcular el impuesto, tiene que usar la Tasa Impositiva (Tax Rate Schedule) especial que se halla en las instrucciones de la Parte III. Filing 2012 taxes for free La Publicación 575, en inglés, muestra cómo completar el Formulario 4972 para calcular el impuesto por separado. Filing 2012 taxes for free Reinversiones Si retira dinero en efectivo u otros activos de un plan de jubilación calificado en una distribución con derecho a reinversión, puede diferir el impuesto sobre la distribución al reinvertirla a otro plan de jubilación calificado o arreglo IRA tradicional. Filing 2012 taxes for free Para este fin, los siguientes son planes de jubilación calificados: Un plan de empleado calificado. Filing 2012 taxes for free Un plan de anualidades de empleado calificado. Filing 2012 taxes for free Un plan de anualidades con refugio tributario (plan 403(b)). Filing 2012 taxes for free Un plan de compensación diferida de la sección 457 del gobierno estatal o local que reúna los requisitos. Filing 2012 taxes for free Distribuciones con derecho a reinversión. Filing 2012 taxes for free   Generalmente, una distribución con derecho a reinversión es toda distribución del total, o de alguna parte, del saldo a su favor en un plan de jubilación calificado. Filing 2012 taxes for free Para información sobre excepciones a las distribuciones con derecho a reinversión, vea la Publicación 575, en inglés. Filing 2012 taxes for free Reinversión de cantidades no tributables. Filing 2012 taxes for free   Tal vez usted pueda reinvertir la parte no tributable de una distribución (como sus aportaciones después de impuestos) realizada en otro plan de jubilación calificado que sea un plan de empleado calificado o plan de la sección 403(b), o en un arreglo IRA tradicional o Roth IRA. Filing 2012 taxes for free El traspaso se tiene que efectuar mediante una reinversión directa a un plan calificado o a un plan de la sección 403(b) que considere en forma separada las partes tributables y no tributables de la reinversión o a través de una reinversión en un arreglo IRA tradicional o en un arreglo Roth IRA. Filing 2012 taxes for free   Si solamente reinvierte parte de una distribución que incluya cantidades tributables y no tributables, la cantidad reinvertida se trata como si proviniera primero de la parte tributable de la distribución. Filing 2012 taxes for free   Toda aportación neta de impuestos que reinvierta en su arreglo IRA tradicional forma parte de la base (costo) en sus arreglos IRA. Filing 2012 taxes for free Para recuperar la base después de sacar distribuciones de su arreglo IRA, tiene que llenar el Formulario 8606 para el año de la distribución. Filing 2012 taxes for free Para más información, vea las Instrucciones para el Formulario 8606, en inglés. Filing 2012 taxes for free Opción de reinversión directa. Filing 2012 taxes for free   Puede elegir que se pague una parte o el total de una distribución con derecho a reinversión directamente a otro plan calificado que esté autorizado para recibirlas o a un arreglo IRA tradicional o arreglo Roth IRA. Filing 2012 taxes for free Si elige una reinversión directa o si se efectúa una reinversión automática, no se retendrán impuestos de ninguna parte de la distribución que se pague directamente al fideicomisario del otro plan. Filing 2012 taxes for free Si decide que se le pague la distribución. Filing 2012 taxes for free   Si se le paga una distribución con derecho a reinversión, normalmente se retendrá el 20% de la misma para fines del impuesto sobre los ingresos. Filing 2012 taxes for free No obstante, se considera que la totalidad de la distribución se le ha pagado aunque en realidad recibe sólo el 80% de la misma. Filing 2012 taxes for free Normalmente, tiene que incluir en los ingresos toda parte (incluyendo la parte retenida) que no reinvierta dentro de los 60 días en otro plan de jubilación calificado o en un arreglo IRA tradicional o arreglo Roth IRA. Filing 2012 taxes for free (Consulte Pensiones y Anualidades bajo Retención de Impuesto para el Año 2014, en el capítulo 4). Filing 2012 taxes for free    Si decide reinvertir una cantidad igual a la distribución antes de la retención, su aportación al nuevo plan o arreglo IRA tiene que incluir otro dinero (por ejemplo, de ahorros o cantidades obtenidas en préstamo) para reemplazar la cantidad retenida. Filing 2012 taxes for free Cuándo hacer la reinversión. Filing 2012 taxes for free   Generalmente, tiene que efectuar por completo la reinversión de una distribución con derecho a reinversión a más tardar 60 días después del día en que reciba la distribución del plan de su empleador. Filing 2012 taxes for free (Si recibe una distribución y durante los 60 días de haberla recibido ésta se convierte en depósito bloqueado de una institución financiera, el plazo de reinversión se prórroga por el período durante el cual la distribución se encuentre en un depósito bloqueado en una institución financiera). Filing 2012 taxes for free   El IRS puede retirar el requisito de 60 días si la aplicación de dicho requisito fuera contrario a un trato de equidad o de buena conciencia, como en el caso de un hecho fortuito, desastre u otro evento fuera de un control razonable. Filing 2012 taxes for free El administrador de un plan calificado tiene que entregarle una explicación por escrito de sus opciones de distribución dentro de un período razonable antes de realizar una distribución con derecho a reinversión. Filing 2012 taxes for free Orden de relaciones domésticas calificadas (QDRO, por sus siglas en inglés). Filing 2012 taxes for free   Tal vez pueda reinvertir la totalidad o parte exenta de impuestos de una distribución de un plan de jubilación calificado que reciba conforme a una orden de relaciones domésticas calificadas. Filing 2012 taxes for free Si recibe la distribución como cónyuge o ex cónyuge de un empleado (no como beneficiario que no es cónyuge), se aplican a su caso las reglas de reinversión como si usted fuese el empleado. Filing 2012 taxes for free Puede reinvertir la distribución del plan en un arreglo IRA tradicional o en otro plan de jubilación que reúna las condiciones. Filing 2012 taxes for free Consulte el tema titulado Rollovers (Reinversiones), en la Publicación 575, en inglés, para obtener más información acerca de los beneficios recibidos conforme a una orden de este tipo. Filing 2012 taxes for free Reinversiones por parte del cónyuge sobreviviente. Filing 2012 taxes for free   Tal vez pueda reinvertir, exenta de impuestos, la totalidad o parte de una distribución de un plan de jubilación calificado que reciba como cónyuge sobreviviente de un empleado fallecido. Filing 2012 taxes for free Las reglas de reinversión se le aplican como si usted fuese el empleado. Filing 2012 taxes for free Puede reinvertir una distribución en un plan de jubilación calificado o en un arreglo IRA tradicional o arreglo Roth IRA. Filing 2012 taxes for free En el caso de una reinversión en un arreglo Roth IRA, vea Reinversiones en arreglos Roth IRA , más adelante. Filing 2012 taxes for free    Una distribución pagada a un beneficiario distinto al cónyuge sobreviviente del empleado no suele ser una distribución con derecho a reinversión. Filing 2012 taxes for free No obstante, vea el tema que se presenta a continuación, Reinversiones por parte de un beneficiario que no sea el cónyuge . Filing 2012 taxes for free Reinversiones por parte de un beneficiario que no sea el cónyuge. Filing 2012 taxes for free   Si es beneficiario designado (que no sea el cónyuge sobreviviente) de un empleado fallecido, quizás pueda reinvertir la totalidad o parte exenta de impuestos de una distribución que reciba de un plan de jubilación calificado del empleado. Filing 2012 taxes for free La distribución debe ser un traspaso directo de fideicomisario a fideicomisario a su arreglo IRA tradicional o su arreglo Roth IRA establecido para recibir dicha distribución. Filing 2012 taxes for free El traspaso se considerará una distribución con derecho a reinversión y el plan que la recibe se considerará un arreglo IRA heredado. Filing 2012 taxes for free Para más información sobre los arreglos IRA heredados, vea el tema titulado What if You Inherit an IRA? (¿Qué ocurre si usted hereda un IRA?), en el capítulo 1 de la Publicación 590, Individual Retirement Arrangements (IRAs) (Arreglos individuales de ahorro para la jubilación (IRA, por sus siglas en inglés)), en inglés. Filing 2012 taxes for free Bonos de jubilación. Filing 2012 taxes for free   Si rescata bonos de jubilación obtenidos conforme a un plan de compra de bonos calificado, puede reinvertir exentos de impuesto en un arreglo IRA la parte de las ganancias que sea superior a la base (como se explica en la Publicación 590, en inglés) o en un plan de empleador calificado. Filing 2012 taxes for free Arreglos de ahorros para la jubilación designados Roth. Filing 2012 taxes for free   Puede reinvertir una distribución con derecho a reinversión desde un arreglo designado Roth a otro arreglo designado Roth o a un arreglo Roth IRA. Filing 2012 taxes for free Si desea reinvertir la parte de la distribución que no se incluya en los ingresos, tiene que hacer una reinversión directa de la distribución en su totalidad o puede reinvertir la cantidad entera (o cualquier parte de la misma) en un arreglo Roth IRA. Filing 2012 taxes for free Para más información sobre las reinversiones de arreglos designados Roth, vea el tema titulado Rollovers (Reinversiones), en la Publicación 575, en inglés. Filing 2012 taxes for free Reinversiones en arreglos de ahorros para la jubilación designados Roth IRA dentro del mismo plan. Filing 2012 taxes for free   Si usted es participante en un plan de tipo 401(k), 403(b) o 457(b), es posible que pueda reinvertir fondos de dichos planes en un arreglo designado Roth dentro del mismo plan. Filing 2012 taxes for free Se tiene que incluir en los ingresos la reinversión de cantidades libres de impuestos. Filing 2012 taxes for free Vea el tema titulado Designated Roth Accounts (Cuentas designadas Roth), que se encuentra bajo el tema Rollovers (Reinversiones), en la Publicación 575, en inglés, para más información. Filing 2012 taxes for free Reinversiones en arreglos Roth IRA. Filing 2012 taxes for free   Puede reinvertir distribuciones directamente de un plan de jubilación calificado en un arreglo Roth IRA. Filing 2012 taxes for free   Tiene que incluir en los ingresos brutos distribuciones procedentes de un plan de jubilación calificado (que no sea un arreglo designado Roth) que habría estado obligado a incluir en los ingresos si no las hubiera reinvertido en un arreglo Roth IRA. Filing 2012 taxes for free No se incluye en los ingresos brutos ninguna parte de una distribución procedente de un plan de jubilación calificado que sea una devolución de aportaciones a dicho plan que estuviesen sujetas a impuestos cuando las hizo. Filing 2012 taxes for free Asimismo, no corresponde el impuesto del 10% sobre distribuciones prematuras. Filing 2012 taxes for free Información adicional. Filing 2012 taxes for free   Para más información sobre las reglas relativas a la reinversión de distribuciones, vea el tema titulado Rollovers (Reinversiones), en la Publicación 575, en inglés. Filing 2012 taxes for free Impuestos Adicionales Especiales Para desalentar el uso de fondos de pensiones para fines que no sean los de la jubilación normal, la ley impone impuestos adicionales sobre distribuciones prematuras de aquellos fondos y en aquellos casos en que los fondos no se retiran a tiempo. Filing 2012 taxes for free Por lo general, no estará sujeto a estos impuestos si reinvierte toda distribución prematura que reciba, como se explica anteriormente, y comienza a retirar los fondos a una edad de jubilación normal y en cantidades razonables durante su expectativa de vida. Filing 2012 taxes for free Estos impuestos adicionales especiales son impuestos sobre: Distribuciones prematuras y Acumulación en exceso (sin recibir distribuciones mínimas). Filing 2012 taxes for free Estos impuestos se explican en las siguientes secciones. Filing 2012 taxes for free Si tiene que pagar alguno de estos impuestos, declárelo en el Formulario 5329. Filing 2012 taxes for free Sin embargo, no tiene que presentar el Formulario 5329 si adeuda solamente el impuesto sobre distribuciones prematuras y su Formulario 1099-R indica correctamente un “1” en el recuadro 7. Filing 2012 taxes for free En su lugar, anote el 10% de la parte tributable de la distribución en la línea 58 del Formulario 1040 y escriba “No” bajo el título “ Other Taxes ” (Otros impuestos) a la izquierda de la línea 58. Filing 2012 taxes for free Aun si no adeuda estos impuestos, es posible que tenga que completar el Formulario 5329 y adjuntarlo al Formulario 1040. Filing 2012 taxes for free Esto corresponde si cumple una excepción al impuesto sobre distribuciones prematuras, pero el recuadro 7 de su Formulario 1099-R no indica una excepción. Filing 2012 taxes for free Impuesto sobre Distribuciones Prematuras La mayoría de las distribuciones (periódicas y no periódicas) de planes de jubilación calificados y contratos de anualidades no calificados pagadas a usted antes de cumplir 59 años y medio de edad está sujeta a un impuesto adicional del 10%. Filing 2012 taxes for free Este impuesto se aplica a la parte de la distribución que tiene que incluir en el ingreso bruto. Filing 2012 taxes for free Para este fin, un plan de jubilación calificado es: Un plan de empleado calificado, Un plan de anualidades de empleado calificado, Un plan de anualidades con refugio tributario o Un plan de remuneración diferida de la sección 457 del gobierno estatal o local (en la medida en que alguna distribución sea atribuible a las cantidades que recibió el plan en un traspaso directo o reinversión de uno de los otros planes que se indican aquí o de un arreglo IRA). Filing 2012 taxes for free Tasa del 5% en ciertas distribuciones prematuras de contratos de anualidad diferida. Filing 2012 taxes for free   Si un retiro prematuro de una anualidad diferida está sujeto al impuesto adicional del 10%, en su lugar se podría aplicar una tasa de un 5%. Filing 2012 taxes for free La tasa del 5% se aplica a distribuciones conforme a una opción por escrito que estipule un plan de distribución de su participación en el contrato si, para el 1 de marzo de 1986, usted había comenzado a recibir pagos conforme a esa opción. Filing 2012 taxes for free En la línea 4 del Formulario 5329, en inglés, multiplique la cantidad de la línea 3 por el 5% en lugar del 10%. Filing 2012 taxes for free Adjunte una explicación a su declaración. Filing 2012 taxes for free Distribuciones de arreglos Roth IRA reinvertidas en un plan de jubilación que reúne los requisitos y dentro del plazo de cinco años. Filing 2012 taxes for free   Si reinvirtió fondos de un plan de jubilación, el cual reúne los requisitos, en un arreglo Roth IRA y recibe una distribución de este arreglo Roth IRA dentro del plazo de cinco años que se inicia en el primer día del año tributario en el que efectuó dicha reinversión, es posible que tenga que pagar el impuesto adicional del 10% sobre distribuciones prematuras. Filing 2012 taxes for free Normalmente, paga el impuesto adicional del 10% sobre toda cantidad atribuible a la parte de la reinversión que usted estuviera obligado a incluir en los ingresos. Filing 2012 taxes for free Se utiliza el Formulario 5329 para calcular el impuesto adicional. Filing 2012 taxes for free Para más información, vea el Formulario 5329 y las instrucciones del mismo. Filing 2012 taxes for free Para información sobre distribuciones calificadas de un arreglo Roth IRA, vea Additional Tax on Early Distributions (Impuesto adicional sobre distribuciones prematuras) en el capítulo 2 de la Publicación 590, en inglés. Filing 2012 taxes for free Distribuciones de arreglos de ahorros para la jubilación designados Roth asignables a distribuciones de un arreglo para la jubilación Roth efectuadas dentro del plazo de cinco años. Filing 2012 taxes for free   Si reinvirtió fondos de un plan de tipo 401(k), 403(b) o 457(b) en un arreglo designado Roth IRA y recibe una distribución de este arreglo designado Roth IRA dentro del plazo de cinco años que se inicia en el primer día del año tributario en el que efectuó dicha reinversión, es posible que tenga que pagar el impuesto adicional del 10% sobre distribuciones prematuras. Filing 2012 taxes for free Normalmente, paga el impuesto adicional del 10% sobre toda cantidad atribuible a la parte de la reinversión dentro del mismo plan que usted estuviera obligado a incluir en los ingresos. Filing 2012 taxes for free Se utiliza el Formulario 5329 para calcular el impuesto adicional. Filing 2012 taxes for free Para más información, vea el Formulario 5329 y las instrucciones del mismo. Filing 2012 taxes for free Para información sobre distribuciones calificadas de un arreglo designado Roth IRA, vea Designated Roth accounts (Arreglos Roth IRA designados) bajo Taxation of Periodic Payments (Tributación de pagos periódicos), en la Publicación 575, en inglés. Filing 2012 taxes for free Excepciones a los impuestos. Filing 2012 taxes for free    Ciertas distribuciones prematuras se excluyen del impuesto sobre dichas distribuciones prematuras. Filing 2012 taxes for free Si el pagador sabe que se aplica una excepción a su distribución prematura, el código de distribución “2”, “3” ó “4” debe aparecer en el recuadro 7 del Formulario 1099-R y usted no tiene que declarar la distribución en el Formulario 5329. Filing 2012 taxes for free Si corresponde una excepción, pero el código de la distribución “1” (distribución prematura, se desconocen excepciones) aparece en el recuadro 7, tiene que presentar el Formulario 5329. Filing 2012 taxes for free Anote en la línea 1 del Formulario 5329 la cantidad tributable de la distribución que aparece en el recuadro 2a de su Formulario 1099-R. Filing 2012 taxes for free En la línea 2, anote la cantidad que se puede excluir y el número de la excepción que aparece en las instrucciones del Formulario 5329. Filing 2012 taxes for free    Si el código de distribución “1” aparece incorrectamente en el Formulario 1099-R para una distribución recibida cuando tenía 59 años y medio de edad o más, incluya esa distribución en el Formulario 5329. Filing 2012 taxes for free Anote el número de la excepción “12” en la línea 2. Filing 2012 taxes for free Excepciones generales. Filing 2012 taxes for free   El impuesto no se aplica a distribuciones que: Se realizan como parte de una serie de pagos periódicos básicamente iguales (efectuados como mínimo una vez al año) durante su vida (o expectativa de vida) o la vida conjunta (o expectativa de vida conjunta) de usted y de su beneficiario designado (si los pagos provienen de un plan de jubilación calificado, tienen que comenzar después de su retirada del trabajo), Se realizan porque usted se encuentra total y permanentemente incapacitado o Se realizan al momento de la muerte del participante del plan o dueño del contrato o después de la muerte. Filing 2012 taxes for free Excepciones adicionales para planes de jubilación calificados. Filing 2012 taxes for free   El impuesto no se aplica a distribuciones provenientes de: Un plan de jubilación calificado (que no sea un arreglo IRA) después de su retirada del trabajo durante o después del año en que cumplió 55 años de edad (50 años de edad para empleados calificados del sector de la seguridad pública), Un plan de jubilación calificado (que no sea un arreglo IRA) a un beneficiario alternativo conforme a una orden de relaciones domésticas calificadas, Un plan de jubilación calificado en la medida en que usted tenga gastos médicos deducibles que excedan del 10% (o 7. Filing 2012 taxes for free 5% si usted o su cónyuge tiene 65 años de edad o más) de su ingreso bruto ajustado, independientemente de si detalla o no sus deducciones para el año, Un plan de empleador conforme a una opción por escrito que estipule un plan de distribución de la totalidad de su participación si, al 1 de marzo de 1986, usted se había retirado de servicio y había comenzado a recibir pagos conforme a esa opción, Un plan de acciones de propiedad de los empleados en el caso de dividendos de valores bursátiles del empleador administrados por el plan, Un plan de jubilación calificado debido a un embargo del plan por parte del IRS Cuentas de aplazamientos electivos bajo planes 401(k) o 403(b), o planes similares, que sean distribuciones para ciudadanos en reserva militar que reúnen los requisitos o Pagos de anualidades de jubilación por fases efectuados a empleados federales. Filing 2012 taxes for free Vea la Publicación 721, disponible en inglés, si desea más información sobre el programa de jubilación por fases. Filing 2012 taxes for free Empleados del sector de la seguridad pública que reúnen los requisitos. Filing 2012 taxes for free   Si es empleado del sector de la seguridad pública y reúne los requisitos, las distribuciones hechas de un plan de pensiones gubernamental con beneficios definidos no están sujetas al impuesto adicional sobre distribuciones prematuras. Filing 2012 taxes for free Se le considera empleado del sector de la seguridad pública que reúne los requisitos si provee protección policial, presta servicios de bombero o servicios médicos de urgencia para un estado o municipio y terminó de prestar servicios (se había separado del servicio) en, o después del, año en que cumplió los 50 años de edad. Filing 2012 taxes for free Distribuciones para ciudadanos en reserva militar que reúnen los requisitos. Filing 2012 taxes for free   Una distribución para ciudadanos en reserva militar que reúnen los requisitos no está sujeta a impuestos adicionales sobre distribuciones prematuras. Filing 2012 taxes for free Una distribución para ciudadanos en reserva militar que reúnen los requisitos es una distribución: (