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H&r Block Free Tax Return

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H&r Block Free Tax Return

H&r block free tax return Publication 538 - Main Content Table of Contents Accounting PeriodsCalendar Year Fiscal Year Short Tax Year Improper Tax Year Change in Tax Year Individuals Partnerships, S Corporations, and Personal Service Corporations (PSCs) Corporations (Other Than S Corporations and PSCs) Accounting MethodsSpecial methods. H&r block free tax return Hybrid method. H&r block free tax return Cash Method Accrual Method Inventories Change in Accounting Method How To Get Tax HelpLow Income Taxpayer Clinics (LITCs). H&r block free tax return Accounting Periods You must use a tax year to figure your taxable income. H&r block free tax return A tax year is an annual accounting period for keeping records and reporting income and expenses. H&r block free tax return An annual accounting period does not include a short tax year (discussed later). H&r block free tax return You can use the following tax years: A calendar year; or A fiscal year (including a 52-53-week tax year). H&r block free tax return Unless you have a required tax year, you adopt a tax year by filing your first income tax return using that tax year. H&r block free tax return A required tax year is a tax year required under the Internal Revenue Code or the Income Tax Regulations. H&r block free tax return You cannot adopt a tax year by merely: Filing an application for an extension of time to file an income tax return; Filing an application for an employer identification number (Form SS-4); or Paying estimated taxes. H&r block free tax return This section discusses: A calendar year. H&r block free tax return A fiscal year (including a period of 52 or 53 weeks). H&r block free tax return A short tax year. H&r block free tax return An improper tax year. H&r block free tax return A change in tax year. H&r block free tax return Special situations that apply to individuals. H&r block free tax return Restrictions that apply to the accounting period of a partnership, S corporation, or personal service corporation. H&r block free tax return Special situations that apply to corporations. H&r block free tax return Calendar Year A calendar year is 12 consecutive months beginning on January 1st and ending on December 31st. H&r block free tax return If you adopt the calendar year, you must maintain your books and records and report your income and expenses from January 1st through December 31st of each year. H&r block free tax return If you file your first tax return using the calendar tax year and you later begin business as a sole proprietor, become a partner in a partnership, or become a shareholder in an S corporation, you must continue to use the calendar year unless you obtain approval from the IRS to change it, or are otherwise allowed to change it without IRS approval. H&r block free tax return See Change in Tax Year, later. H&r block free tax return Generally, anyone can adopt the calendar year. H&r block free tax return However, you must adopt the calendar year if: You keep no books or records; You have no annual accounting period; Your present tax year does not qualify as a fiscal year; or You are required to use a calendar year by a provision in the Internal Revenue Code or the Income Tax Regulations. H&r block free tax return Fiscal Year A fiscal year is 12 consecutive months ending on the last day of any month except December 31st. H&r block free tax return If you are allowed to adopt a fiscal year, you must consistently maintain your books and records and report your income and expenses using the time period adopted. H&r block free tax return 52-53-Week Tax Year You can elect to use a 52-53-week tax year if you keep your books and records and report your income and expenses on that basis. H&r block free tax return If you make this election, your 52-53-week tax year must always end on the same day of the week. H&r block free tax return Your 52-53-week tax year must always end on: Whatever date this same day of the week last occurs in a calendar month, or Whatever date this same day of the week falls that is nearest to the last day of the calendar month. H&r block free tax return For example, if you elect a tax year that always ends on the last Monday in March, your 2012 tax year will end on March 25, 2013. H&r block free tax return Election. H&r block free tax return   To make the election for the 52-53-week tax year, attach a statement with the following information to your tax return. H&r block free tax return The month in which the new 52-53-week tax year ends. H&r block free tax return The day of the week on which the tax year always ends. H&r block free tax return The date the tax year ends. H&r block free tax return It can be either of the following dates on which the chosen day: Last occurs in the month in (1), above, or Occurs nearest to the last day of the month in (1), above. H&r block free tax return   When you figure depreciation or amortization, a 52-53-week tax year is generally considered a year of 12 calendar months. H&r block free tax return   To determine an effective date (or apply provisions of any law) expressed in terms of tax years beginning, including, or ending on the first or last day of a specified calendar month, a 52-53-week tax year is considered to: Begin on the first day of the calendar month beginning nearest to the first day of the 52-53-week tax year, and End on the last day of the calendar month ending nearest to the last day of the 52-53-week tax year. H&r block free tax return Example. H&r block free tax return Assume a tax provision applies to tax years beginning on or after July 1, 2012, which happens to be a Sunday. H&r block free tax return For this purpose, a 52-53-week tax year that begins on the last Tuesday of June, which falls on June 26, 2012, is treated as beginning on July 1, 2012. H&r block free tax return Short Tax Year A short tax year is a tax year of less than 12 months. H&r block free tax return A short period tax return may be required when you (as a taxable entity): Are not in existence for an entire tax year, or Change your accounting period. H&r block free tax return Tax on a short period tax return is figured differently for each situation. H&r block free tax return Not in Existence Entire Year Even if a taxable entity was not in existence for the entire year, a tax return is required for the time it was in existence. H&r block free tax return Requirements for filing the return and figuring the tax are generally the same as the requirements for a return for a full tax year (12 months) ending on the last day of the short tax year. H&r block free tax return Example 1. H&r block free tax return XYZ Corporation was organized on July 1, 2012. H&r block free tax return It elected the calendar year as its tax year. H&r block free tax return Therefore, its first tax return was due March 15, 2013. H&r block free tax return This short period return will cover the period from July 1, 2012, through December 31, 2012. H&r block free tax return Example 2. H&r block free tax return A calendar year corporation dissolved on July 23, 2012. H&r block free tax return Its final return is due by October 15, 2012. H&r block free tax return It will cover the short period from January 1, 2012, through July 23, 2012. H&r block free tax return Death of individual. H&r block free tax return   When an individual dies, a tax return must be filed for the decedent by the 15th day of the 4th month after the close of the individual's regular tax year. H&r block free tax return The decedent's final return will be a short period tax return that begins on January 1st, and ends on the date of death. H&r block free tax return In the case of a decedent who dies on December 31st, the last day of the regular tax year, a full calendar-year tax return is required. H&r block free tax return Example. H&r block free tax return   Agnes Green was a single, calendar year taxpayer. H&r block free tax return She died on March 6, 2012. H&r block free tax return Her final income tax return must be filed by April 15, 2013. H&r block free tax return It will cover the short period from January 1, 2012, to March 6, 2012. H&r block free tax return Figuring Tax for Short Year If the IRS approves a change in your tax year or you are required to change your tax year, you must figure the tax and file your return for the short tax period. H&r block free tax return The short tax period begins on the first day after the close of your old tax year and ends on the day before the first day of your new tax year. H&r block free tax return Figure tax for a short year under the general rule, explained below. H&r block free tax return You may then be able to use a relief procedure, explained later, and claim a refund of part of the tax you paid. H&r block free tax return General rule. H&r block free tax return   Income tax for a short tax year must be annualized. H&r block free tax return However, self-employment tax is figured on the actual self-employment income for the short period. H&r block free tax return Individuals. H&r block free tax return   An individual must figure income tax for the short tax year as follows. H&r block free tax return Determine your adjusted gross income (AGI) for the short tax year and then subtract your actual itemized deductions for the short tax year. H&r block free tax return You must itemize deductions when you file a short period tax return. H&r block free tax return Multiply the dollar amount of your exemptions by the number of months in the short tax year and divide the result by 12. H&r block free tax return Subtract the amount in (2) from the amount in (1). H&r block free tax return The result is your modified taxable income. H&r block free tax return Multiply the modified taxable income in (3) by 12, then divide the result by the number of months in the short tax year. H&r block free tax return The result is your annualized income. H&r block free tax return Figure the total tax on your annualized income using the appropriate tax rate schedule. H&r block free tax return Multiply the total tax by the number of months in the short tax year and divide the result by 12. H&r block free tax return The result is your tax for the short tax year. H&r block free tax return Relief procedure. H&r block free tax return   Individuals and corporations can use a relief procedure to figure the tax for the short tax year. H&r block free tax return It may result in less tax. H&r block free tax return Under this procedure, the tax is figured by two separate methods. H&r block free tax return If the tax figured under both methods is less than the tax figured under the general rule, you can file a claim for a refund of part of the tax you paid. H&r block free tax return For more information, see section 443(b)(2) of the Internal Revenue Code. H&r block free tax return Alternative minimum tax. H&r block free tax return   To figure the alternative minimum tax (AMT) due for a short tax year: Figure the annualized alternative minimum taxable income (AMTI) for the short tax period by completing the following steps. H&r block free tax return Multiply the AMTI by 12. H&r block free tax return Divide the result by the number of months in the short tax year. H&r block free tax return Multiply the annualized AMTI by the appropriate rate of tax under section 55(b)(1) of the Internal Revenue Code. H&r block free tax return The result is the annualized AMT. H&r block free tax return Multiply the annualized AMT by the number of months in the short tax year and divide the result by 12. H&r block free tax return   For information on the AMT for individuals, see the Instructions for Form 6251, Alternative Minimum Tax–Individuals. H&r block free tax return For information on the AMT for corporations, see the Instructions to Form 4626, Alternative Minimum Tax–Corporations. H&r block free tax return Tax withheld from wages. H&r block free tax return   You can claim a credit against your income tax liability for federal income tax withheld from your wages. H&r block free tax return Federal income tax is withheld on a calendar year basis. H&r block free tax return The amount withheld in any calendar year is allowed as a credit for the tax year beginning in the calendar year. H&r block free tax return Improper Tax Year Taxpayers that have adopted an improper tax year must change to a proper tax year. H&r block free tax return For example, if a taxpayer began business on March 15 and adopted a tax year ending on March 14 (a period of exactly 12 months), this would be an improper tax year. H&r block free tax return See Accounting Periods, earlier, for a description of permissible tax years. H&r block free tax return To change to a proper tax year, you must do one of the following. H&r block free tax return If you are requesting a change to a calendar tax year, file an amended income tax return based on a calendar tax year that corrects the most recently filed tax return that was filed on the basis of an improper tax year. H&r block free tax return Attach a completed Form 1128 to the amended tax return. H&r block free tax return Write “FILED UNDER REV. H&r block free tax return PROC. H&r block free tax return 85-15” at the top of Form 1128 and file the forms with the Internal Revenue Service Center where you filed your original return. H&r block free tax return If you are requesting a change to a fiscal tax year, file Form 1128 in accordance with the form instructions to request IRS approval for the change. H&r block free tax return Change in Tax Year Generally, you must file Form 1128 to request IRS approval to change your tax year. H&r block free tax return See the Instructions for Form 1128 for exceptions. H&r block free tax return If you qualify for an automatic approval request, a user fee is not required. H&r block free tax return Individuals Generally, individuals must adopt the calendar year as their tax year. H&r block free tax return An individual can adopt a fiscal year provided that the individual maintains his or her books and records on the basis of the adopted fiscal year. H&r block free tax return Partnerships, S Corporations, and Personal Service Corporations (PSCs) Generally, partnerships, S corporations (including electing S corporations), and PSCs must use a required tax year. H&r block free tax return A required tax year is a tax year that is required under the Internal Revenue Code and Income Tax Regulations. H&r block free tax return The entity does not have to use the required tax year if it receives IRS approval to use another permitted tax year or makes an election under section 444 of the Internal Revenue Code (discussed later). H&r block free tax return The following discussions provide the rules for partnerships, S corporations, and PSCs. H&r block free tax return Partnership A partnership must conform its tax year to its partners' tax years unless any of the following apply. H&r block free tax return The partnership makes an election under section 444 of the Internal Revenue Code to have a tax year other than a required tax year by filing Form 8716. H&r block free tax return The partnership elects to use a 52-53-week tax year that ends with reference to either its required tax year or a tax year elected under section 444. H&r block free tax return The partnership can establish a business purpose for a different tax year. H&r block free tax return The rules for the required tax year for partnerships are as follows. H&r block free tax return If one or more partners having the same tax year own a majority interest (more than 50%) in partnership profits and capital, the partnership must use the tax year of those partners. H&r block free tax return If there is no majority interest tax year, the partnership must use the tax year of all its principal partners. H&r block free tax return A principal partner is one who has a 5% or more interest in the profits or capital of the partnership. H&r block free tax return If there is no majority interest tax year and the principal partners do not have the same tax year, the partnership generally must use a tax year that results in the least aggregate deferral of income to the partners. H&r block free tax return If a partnership changes to a required tax year because of these rules, it can get automatic approval by filing Form 1128. H&r block free tax return Least aggregate deferral of income. H&r block free tax return   The tax year that results in the least aggregate deferral of income is determined as follows. H&r block free tax return Figure the number of months of deferral for each partner using one partner's tax year. H&r block free tax return Find the months of deferral by counting the months from the end of that tax year forward to the end of each other partner's tax year. H&r block free tax return Multiply each partner's months of deferral figured in step (1) by that partner's share of interest in the partnership profits for the year used in step (1). H&r block free tax return Add the amounts in step (2) to get the aggregate (total) deferral for the tax year used in step (1). H&r block free tax return Repeat steps (1) through (3) for each partner's tax year that is different from the other partners' years. H&r block free tax return   The partner's tax year that results in the lowest aggregate (total) number is the tax year that must be used by the partnership. H&r block free tax return If the calculation results in more than one tax year qualifying as the tax year with the least aggregate deferral, the partnership can choose any one of those tax years as its tax year. H&r block free tax return However, if one of the tax years that qualifies is the partnership's existing tax year, the partnership must retain that tax year. H&r block free tax return Example. H&r block free tax return A and B each have a 50% interest in partnership P, which uses a fiscal year ending June 30. H&r block free tax return A uses the calendar year and B uses a fiscal year ending November 30. H&r block free tax return P must change its tax year to a fiscal year ending November 30 because this results in the least aggregate deferral of income to the partners, as shown in the following table. H&r block free tax return Year End 12/31: Year End Profits Interest Months of Deferral Interest × Deferral A 12/31 0. H&r block free tax return 5 -0- -0- B 11/30 0. H&r block free tax return 5 11 5. H&r block free tax return 5 Total Deferral 5. H&r block free tax return 5 Year End 11/30: Year End Profits Interest Months of Deferral Interest × Deferral A 12/31 0. H&r block free tax return 5 1 0. H&r block free tax return 5 B 11/30 0. H&r block free tax return 5 -0- -0- Total Deferral 0. H&r block free tax return 5 When determination is made. H&r block free tax return   The determination of the tax year under the least aggregate deferral rules must generally be made at the beginning of the partnership's current tax year. H&r block free tax return However, the IRS can require the partnership to use another day or period that will more accurately reflect the ownership of the partnership. H&r block free tax return This could occur, for example, if a partnership interest was transferred for the purpose of qualifying for a particular tax year. H&r block free tax return Short period return. H&r block free tax return   When a partnership changes its tax year, a short period return must be filed. H&r block free tax return The short period return covers the months between the end of the partnership's prior tax year and the beginning of its new tax year. H&r block free tax return   If a partnership changes to the tax year resulting in the least aggregate deferral, it must file a Form 1128 with the short period return showing the computations used to determine that tax year. H&r block free tax return The short period return must indicate at the top of page 1, “FILED UNDER SECTION 1. H&r block free tax return 706-1. H&r block free tax return ” More information. H&r block free tax return   For more information about changing a partnership's tax year, and information about ruling requests, see the Instructions for Form 1128. H&r block free tax return S Corporation All S corporations, regardless of when they became an S corporation, must use a permitted tax year. H&r block free tax return A permitted tax year is any of the following. H&r block free tax return The calendar year. H&r block free tax return A tax year elected under section 444 of the Internal Revenue Code. H&r block free tax return See Section 444 Election, below for details. H&r block free tax return A 52-53-week tax year ending with reference to the calendar year or a tax year elected under section 444. H&r block free tax return Any other tax year for which the corporation establishes a business purpose. H&r block free tax return If an electing S corporation wishes to adopt a tax year other than a calendar year, it must request IRS approval using Form 2553, instead of filing Form 1128. H&r block free tax return For information about changing an S corporation's tax year and information about ruling requests, see the Instructions for Form 1128. H&r block free tax return Personal Service Corporation (PSC) A PSC must use a calendar tax year unless any of the following apply. H&r block free tax return The corporation makes an election under section 444 of the Internal Revenue Code. H&r block free tax return See Section 444 Election, below for details. H&r block free tax return The corporation elects to use a 52-53-week tax year ending with reference to the calendar year or a tax year elected under section 444. H&r block free tax return The corporation establishes a business purpose for a fiscal year. H&r block free tax return See the Instructions for Form 1120 for general information about PSCs. H&r block free tax return For information on adopting or changing tax years for PSCs and information about ruling requests, see the Instructions for Form 1128. H&r block free tax return Section 444 Election A partnership, S corporation, electing S corporation, or PSC can elect under section 444 of the Internal Revenue Code to use a tax year other than its required tax year. H&r block free tax return Certain restrictions apply to the election. H&r block free tax return A partnership or an S corporation that makes a section 444 election must make certain required payments and a PSC must make certain distributions (discussed later). H&r block free tax return The section 444 election does not apply to any partnership, S corporation, or PSC that establishes a business purpose for a different period, explained later. H&r block free tax return A partnership, S corporation, or PSC can make a section 444 election if it meets all the following requirements. H&r block free tax return It is not a member of a tiered structure (defined in section 1. H&r block free tax return 444-2T of the regulations). H&r block free tax return It has not previously had a section 444 election in effect. H&r block free tax return It elects a year that meets the deferral period requirement. H&r block free tax return Deferral period. H&r block free tax return   The determination of the deferral period depends on whether the partnership, S corporation, or PSC is retaining its tax year or adopting or changing its tax year with a section 444 election. H&r block free tax return Retaining tax year. H&r block free tax return   Generally, a partnership, S corporation, or PSC can make a section 444 election to retain its tax year only if the deferral period of the new tax year is 3 months or less. H&r block free tax return This deferral period is the number of months between the beginning of the retained year and the close of the first required tax year. H&r block free tax return Adopting or changing tax year. H&r block free tax return   If the partnership, S corporation, or PSC is adopting or changing to a tax year other than its required year, the deferral period is the number of months from the end of the new tax year to the end of the required tax year. H&r block free tax return The IRS will allow a section 444 election only if the deferral period of the new tax year is less than the shorter of: Three months, or The deferral period of the tax year being changed. H&r block free tax return This is the tax year immediately preceding the year for which the partnership, S corporation, or PSC wishes to make the section 444 election. H&r block free tax return If the partnership, S corporation, or PSC's tax year is the same as its required tax year, the deferral period is zero. H&r block free tax return Example 1. H&r block free tax return BD Partnership uses a calendar year, which is also its required tax year. H&r block free tax return BD cannot make a section 444 election because the deferral period is zero. H&r block free tax return Example 2. H&r block free tax return E, a newly formed partnership, began operations on December 1. H&r block free tax return E is owned by calendar year partners. H&r block free tax return E wants to make a section 444 election to adopt a September 30 tax year. H&r block free tax return E's deferral period for the tax year beginning December 1 is 3 months, the number of months between September 30 and December 31. H&r block free tax return Making the election. H&r block free tax return   Make a section 444 election by filing Form 8716 with the Internal Revenue Service Center where the entity will file its tax return. H&r block free tax return Form 8716 must be filed by the earlier of: The due date (not including extensions) of the income tax return for the tax year resulting from the section 444 election, or The 15th day of the 6th month of the tax year for which the election will be effective. H&r block free tax return For this purpose, count the month in which the tax year begins, even if it begins after the first day of that month. H&r block free tax return Note. H&r block free tax return If the due date falls on a Saturday, Sunday, or legal holiday, file on the next business day. H&r block free tax return   Attach a copy of Form 8716 to Form 1065, Form 1120S, or Form 1120 for the first tax year for which the election is made. H&r block free tax return Example 1. H&r block free tax return AB, a partnership, begins operations on September 13, 2012, and is qualified to make a section 444 election to use a September 30 tax year for its tax year beginning September 13, 2012. H&r block free tax return AB must file Form 8716 by January 15, 2013, which is the due date of the partnership's tax return for the period from September 13, 2012, to September 30, 2012. H&r block free tax return Example 2. H&r block free tax return The facts are the same as in Example 1 except that AB begins operations on October 21, 2012. H&r block free tax return AB must file Form 8716 by March 17, 2013. H&r block free tax return Example 3. H&r block free tax return B is a corporation that first becomes a PSC for its tax year beginning September 1, 2012. H&r block free tax return B qualifies to make a section 444 election to use a September 30 tax year for its tax year beginning September 1, 2012. H&r block free tax return B must file Form 8716 by December 17, 2012, the due date of the income tax return for the short period from September 1, 2012, to September 30, 2012. H&r block free tax return Note. H&r block free tax return The due dates in Examples 2 and 3 are adjusted because the dates fall on a Saturday, Sunday or legal holiday. H&r block free tax return Extension of time for filing. H&r block free tax return   There is an automatic extension of 12 months to make this election. H&r block free tax return See the Form 8716 instructions for more information. H&r block free tax return Terminating the election. H&r block free tax return   The section 444 election remains in effect until it is terminated. H&r block free tax return If the election is terminated, another section 444 election cannot be made for any tax year. H&r block free tax return   The election ends when any of the following applies to the partnership, S corporation, or PSC. H&r block free tax return The entity changes to its required tax year. H&r block free tax return The entity liquidates. H&r block free tax return The entity becomes a member of a tiered structure. H&r block free tax return The IRS determines that the entity willfully failed to comply with the required payments or distributions. H&r block free tax return   The election will also end if either of the following events occur. H&r block free tax return An S corporation's S election is terminated. H&r block free tax return However, if the S corporation immediately becomes a PSC, the PSC can continue the section 444 election of the S corporation. H&r block free tax return A PSC ceases to be a PSC. H&r block free tax return If the PSC elects to be an S corporation, the S corporation can continue the election of the PSC. H&r block free tax return Required payment for partnership or S corporation. H&r block free tax return   A partnership or an S corporation must make a required payment for any tax year: The section 444 election is in effect. H&r block free tax return The required payment for that year (or any preceding tax year) is more than $500. H&r block free tax return    This payment represents the value of the tax deferral the owners receive by using a tax year different from the required tax year. H&r block free tax return   Form 8752, Required Payment or Refund Under Section 7519, must be filed each year the section 444 election is in effect, even if no payment is due. H&r block free tax return If the required payment is more than $500 (or the required payment for any prior year was more than $500), the payment must be made when Form 8752 is filed. H&r block free tax return If the required payment is $500 or less and no payment was required in a prior year, Form 8752 must be filed showing a zero amount. H&r block free tax return Applicable election year. H&r block free tax return   Any tax year a section 444 election is in effect, including the first year, is called an applicable election year. H&r block free tax return Form 8752 must be filed and the required payment made (or zero amount reported) by May 15th of the calendar year following the calendar year in which the applicable election year begins. H&r block free tax return Required distribution for PSC. H&r block free tax return   A PSC with a section 444 election in effect must distribute certain amounts to employee-owners by December 31 of each applicable year. H&r block free tax return If it fails to make these distributions, it may be required to defer certain deductions for amounts paid to owner-employees. H&r block free tax return The amount deferred is treated as paid or incurred in the following tax year. H&r block free tax return   For information on the minimum distribution, see the instructions for Part I of Schedule H (Form 1120), Section 280H Limitations for a Personal Service Corporation (PSC). H&r block free tax return Back-up election. H&r block free tax return   A partnership, S corporation, or PSC can file a back-up section 444 election if it requests (or plans to request) permission to use a business purpose tax year, discussed later. H&r block free tax return If the request is denied, the back-up section 444 election must be activated (if the partnership, S corporation, or PSC otherwise qualifies). H&r block free tax return Making back-up election. H&r block free tax return   The general rules for making a section 444 election, as discussed earlier, apply. H&r block free tax return When filing Form 8716, type or print “BACK-UP ELECTION” at the top of the form. H&r block free tax return However, if Form 8716 is filed on or after the date Form 1128 (or Form 2553) is filed, type or print “FORM 1128 (or FORM 2553) BACK-UP ELECTION” at the top of Form 8716. H&r block free tax return Activating election. H&r block free tax return   A partnership or S corporation activates its back-up election by filing the return required and making the required payment with Form 8752. H&r block free tax return The due date for filing Form 8752 and making the payment is the later of the following dates. H&r block free tax return May 15 of the calendar year following the calendar year in which the applicable election year begins. H&r block free tax return 60 days after the partnership or S corporation has been notified by the IRS that the business year request has been denied. H&r block free tax return   A PSC activates its back-up election by filing Form 8716 with its original or amended income tax return for the tax year in which the election is first effective and printing on the top of the income tax return, “ACTIVATING BACK-UP ELECTION. H&r block free tax return ” 52-53-Week Tax Year A partnership, S corporation, or PSC can use a tax year other than its required tax year if it elects a 52-53-week tax year (discussed earlier) that ends with reference to either its required tax year or a tax year elected under section 444 (discussed earlier). H&r block free tax return A newly formed partnership, S corporation, or PSC can adopt a 52-53-week tax year ending with reference to either its required tax year or a tax year elected under section 444 without IRS approval. H&r block free tax return However, if the entity wishes to change to a 52-53-week tax year or change from a 52-53-week tax year that references a particular month to a non-52-53-week tax year that ends on the last day of that month, it must request IRS approval by filing Form 1128. H&r block free tax return Business Purpose Tax Year A partnership, S corporation, or PSC establishes the business purpose for a tax year by filing Form 1128. H&r block free tax return See the Instructions for Form 1128 for details. H&r block free tax return Corporations (Other Than S Corporations and PSCs) A new corporation establishes its tax year when it files its first tax return. H&r block free tax return A newly reactivated corporation that has been inactive for a number of years is treated as a new taxpayer for the purpose of adopting a tax year. H&r block free tax return An S corporation or a PSC must use the required tax year rules, discussed earlier, to establish a tax year. H&r block free tax return Generally, a corporation that wants to change its tax year must obtain approval from the IRS under either the: (a) automatic approval procedures; or (b) ruling request procedures. H&r block free tax return See the Instructions for Form 1128 for details. H&r block free tax return Accounting Methods An accounting method is a set of rules used to determine when income and expenses are reported on your tax return. H&r block free tax return Your accounting method includes not only your overall method of accounting, but also the accounting treatment you use for any material item. H&r block free tax return You choose an accounting method when you file your first tax return. H&r block free tax return If you later want to change your accounting method, you must get IRS approval. H&r block free tax return See Change in Accounting Method, later. H&r block free tax return No single accounting method is required of all taxpayers. H&r block free tax return You must use a system that clearly reflects your income and expenses and you must maintain records that will enable you to file a correct return. H&r block free tax return In addition to your permanent accounting books, you must keep any other records necessary to support the entries on your books and tax returns. H&r block free tax return You must use the same accounting method from year to year. H&r block free tax return An accounting method clearly reflects income only if all items of gross income and expenses are treated the same from year to year. H&r block free tax return If you do not regularly use an accounting method that clearly reflects your income, your income will be refigured under the method that, in the opinion of the IRS, does clearly reflect income. H&r block free tax return Methods you can use. H&r block free tax return   In general, you can compute your taxable income under any of the following accounting methods. H&r block free tax return Cash method. H&r block free tax return Accrual method. H&r block free tax return Special methods of accounting for certain items of income and expenses. H&r block free tax return A hybrid method which combines elements of two or more of the above accounting methods. H&r block free tax return The cash and accrual methods of accounting are explained later. H&r block free tax return Special methods. H&r block free tax return   This publication does not discuss special methods of accounting for certain items of income or expenses. H&r block free tax return For information on reporting income using one of the long-term contract methods, see section 460 of the Internal Revenue Code and the related regulations. H&r block free tax return The following publications also discuss special methods of reporting income or expenses. H&r block free tax return Publication 225, Farmer's Tax Guide. H&r block free tax return Publication 535, Business Expenses. H&r block free tax return Publication 537, Installment Sales. H&r block free tax return Publication 946, How To Depreciate Property. H&r block free tax return Hybrid method. H&r block free tax return   Generally, you can use any combination of cash, accrual, and special methods of accounting if the combination clearly reflects your income and you use it consistently. H&r block free tax return However, the following restrictions apply. H&r block free tax return If an inventory is necessary to account for your income, you must use an accrual method for purchases and sales. H&r block free tax return See Exceptions under Inventories, later. H&r block free tax return Generally, you can use the cash method for all other items of income and expenses. H&r block free tax return See Inventories, later. H&r block free tax return If you use the cash method for reporting your income, you must use the cash method for reporting your expenses. H&r block free tax return If you use an accrual method for reporting your expenses, you must use an accrual method for figuring your income. H&r block free tax return Any combination that includes the cash method is treated as the cash method for purposes of section 448 of the Internal Revenue Code. H&r block free tax return Business and personal items. H&r block free tax return   You can account for business and personal items using different accounting methods. H&r block free tax return For example, you can determine your business income and expenses under an accrual method, even if you use the cash method to figure personal items. H&r block free tax return Two or more businesses. H&r block free tax return   If you operate two or more separate and distinct businesses, you can use a different accounting method for each business. H&r block free tax return No business is separate and distinct, unless a complete and separate set of books and records is maintained for each business. H&r block free tax return Note. H&r block free tax return If you use different accounting methods to create or shift profits or losses between businesses (for example, through inventory adjustments, sales, purchases, or expenses) so that income is not clearly reflected, the businesses will not be considered separate and distinct. H&r block free tax return Cash Method Most individuals and many small businesses use the cash method of accounting. H&r block free tax return Generally, if you produce, purchase, or sell merchandise, you must keep an inventory and use an accrual method for sales and purchases of merchandise. H&r block free tax return See Inventories, later, for exceptions to this rule. H&r block free tax return Income Under the cash method, you include in your gross income all items of income you actually or constructively receive during the tax year. H&r block free tax return If you receive property and services, you must include their fair market value (FMV) in income. H&r block free tax return Constructive receipt. H&r block free tax return   Income is constructively received when an amount is credited to your account or made available to you without restriction. H&r block free tax return You need not have possession of it. H&r block free tax return If you authorize someone to be your agent and receive income for you, you are considered to have received it when your agent receives it. H&r block free tax return Income is not constructively received if your control of its receipt is subject to substantial restrictions or limitations. H&r block free tax return Example. H&r block free tax return You are a calendar year taxpayer. H&r block free tax return Your bank credited, and made available, interest to your bank account in December 2012. H&r block free tax return You did not withdraw it or enter it into your books until 2013. H&r block free tax return You must include the amount in gross income for 2012, the year you constructively received it. H&r block free tax return You cannot hold checks or postpone taking possession of similar property from one tax year to another to postpone paying tax on the income. H&r block free tax return You must report the income in the year the property is received or made available to you without restriction. H&r block free tax return Expenses Under the cash method, generally, you deduct expenses in the tax year in which you actually pay them. H&r block free tax return This includes business expenses for which you contest liability. H&r block free tax return However, you may not be able to deduct an expense paid in advance. H&r block free tax return Instead, you may be required to capitalize certain costs, as explained later under Uniform Capitalization Rules. H&r block free tax return Expense paid in advance. H&r block free tax return   An expense you pay in advance is deductible only in the year to which it applies, unless the expense qualifies for the 12-month rule. H&r block free tax return   Under the 12-month rule, a taxpayer is not required to capitalize amounts paid to create certain rights or benefits for the taxpayer that do not extend beyond the earlier of the following. H&r block free tax return 12 months after the right or benefit begins, or The end of the tax year after the tax year in which payment is made. H&r block free tax return   If you have not been applying the general rule (an expense paid in advance is deductible only in the year to which it applies) and/or the 12-month rule to the expenses you paid in advance, you must obtain approval from the IRS before using the general rule and/or the 12-month rule. H&r block free tax return See Change in Accounting Method, later. H&r block free tax return Example 1. H&r block free tax return You are a calendar year taxpayer and pay $3,000 in 2012 for a business insurance policy that is effective for three years (36 months), beginning on July 1, 2012. H&r block free tax return The general rule that an expense paid in advance is deductible only in the year to which it applies is applicable to this payment because the payment does not qualify for the 12-month rule. H&r block free tax return Therefore, only $500 (6/36 x $3,000) is deductible in 2012, $1,000 (12/36 x $3,000) is deductible in 2013, $1,000 (12/36 x $3,000) is deductible in 2014, and the remaining $500 is deductible in 2015. H&r block free tax return Example 2. H&r block free tax return You are a calendar year taxpayer and pay $10,000 on July 1, 2012, for a business insurance policy that is effective for only one year beginning on July 1, 2012. H&r block free tax return The 12-month rule applies. H&r block free tax return Therefore, the full $10,000 is deductible in 2012. H&r block free tax return Excluded Entities The following entities cannot use the cash method, including any combination of methods that includes the cash method. H&r block free tax return (See Special rules for farming businesses, later. H&r block free tax return ) A corporation (other than an S corporation) with average annual gross receipts exceeding $5 million. H&r block free tax return See Gross receipts test, below. H&r block free tax return A partnership with a corporation (other than an S corporation) as a partner, and with the partnership having average annual gross receipts exceeding $5 million. H&r block free tax return See Gross receipts test, below. H&r block free tax return A tax shelter. H&r block free tax return Exceptions The following entities are not prohibited from using the cash method of accounting. H&r block free tax return Any corporation or partnership, other than a tax shelter, that meets the gross receipts test for all tax years after 1985. H&r block free tax return A qualified personal service corporation (PSC). H&r block free tax return Gross receipts test. H&r block free tax return   A corporation or partnership, other than a tax shelter, that meets the gross receipts test can generally use the cash method. H&r block free tax return A corporation or a partnership meets the test if, for each prior tax year beginning after 1985, its average annual gross receipts are $5 million or less. H&r block free tax return    An entity's average annual gross receipts for a prior tax year is determined by: Adding the gross receipts for that tax year and the 2 preceding tax years; and Dividing the total by 3. H&r block free tax return See Gross receipts test for qualifying taxpayers, for more information. H&r block free tax return Generally, a partnership applies the test at the partnership level. H&r block free tax return Gross receipts for a short tax year are annualized. H&r block free tax return Aggregation rules. H&r block free tax return   Organizations that are members of an affiliated service group or a controlled group of corporations treated as a single employer for tax purposes are required to aggregate their gross receipts to determine whether the gross receipts test is met. H&r block free tax return Change to accrual method. H&r block free tax return   A corporation or partnership that fails to meet the gross receipts test for any tax year is prohibited from using the cash method and must change to an accrual method of accounting, effective for the tax year in which the entity fails to meet this test. H&r block free tax return Special rules for farming businesses. H&r block free tax return   Generally, a taxpayer engaged in the trade or business of farming is allowed to use the cash method for its farming business. H&r block free tax return However, certain corporations (other than S corporations) and partnerships that have a partner that is a corporation must use an accrual method for their farming business. H&r block free tax return For this purpose, farming does not include the operation of a nursery or sod farm or the raising or harvesting of trees (other than fruit and nut trees). H&r block free tax return   There is an exception to the requirement to use an accrual method for corporations with gross receipts of $1 million or less for each prior tax year after 1975. H&r block free tax return For family corporations engaged in farming, the exception applies if gross receipts were $25 million or less for each prior tax year after 1985. H&r block free tax return See chapter 2 of Publication 225, Farmer's Tax Guide, for more information. H&r block free tax return Qualified PSC. H&r block free tax return   A PSC that meets the following function and ownership tests can use the cash method. H&r block free tax return Function test. H&r block free tax return   A corporation meets the function test if at least 95% of its activities are in the performance of services in the fields of health, veterinary services, law, engineering (including surveying and mapping), architecture, accounting, actuarial science, performing arts, or consulting. H&r block free tax return Ownership test. H&r block free tax return   A corporation meets the ownership test if at least 95% of its stock is owned, directly or indirectly, at all times during the year by one or more of the following. H&r block free tax return Employees performing services for the corporation in a field qualifying under the function test. H&r block free tax return Retired employees who had performed services in those fields. H&r block free tax return The estate of an employee described in (1) or (2). H&r block free tax return Any other person who acquired the stock by reason of the death of an employee referred to in (1) or (2), but only for the 2-year period beginning on the date of death. H&r block free tax return   Indirect ownership is generally taken into account if the stock is owned indirectly through one or more partnerships, S corporations, or qualified PSCs. H&r block free tax return Stock owned by one of these entities is considered owned by the entity's owners in proportion to their ownership interest in that entity. H&r block free tax return Other forms of indirect stock ownership, such as stock owned by family members, are generally not considered when determining if the ownership test is met. H&r block free tax return   For purposes of the ownership test, a person is not considered an employee of a corporation unless that person performs more than minimal services for the corporation. H&r block free tax return Change to accrual method. H&r block free tax return   A corporation that fails to meet the function test for any tax year; or fails to meet the ownership test at any time during any tax year must change to an accrual method of accounting, effective for the year in which the corporation fails to meet either test. H&r block free tax return A corporation that fails to meet the function test or the ownership test is not treated as a qualified PSC for any part of that tax year. H&r block free tax return Accrual Method Under the accrual method of accounting, generally you report income in the year it is earned and deduct or capitalize expenses in the year incurred. H&r block free tax return The purpose of an accrual method of accounting is to match income and expenses in the correct year. H&r block free tax return Income Generally, you include an amount in gross income for the tax year in which all events that fix your right to receive the income have occurred and you can determine the amount with reasonable accuracy. H&r block free tax return Under this rule, you report an amount in your gross income on the earliest of the following dates. H&r block free tax return When you receive payment. H&r block free tax return When the income amount is due to you. H&r block free tax return When you earn the income. H&r block free tax return When title has passed. H&r block free tax return Estimated income. H&r block free tax return   If you include a reasonably estimated amount in gross income and later determine the exact amount is different, take the difference into account in the tax year you make that determination. H&r block free tax return Change in payment schedule. H&r block free tax return   If you perform services for a basic rate specified in a contract, you must accrue the income at the basic rate, even if you agree to receive payments at a reduced rate. H&r block free tax return Continue this procedure until you complete the services, then account for the difference. H&r block free tax return Advance Payment for Services Generally, you report an advance payment for services to be performed in a later tax year as income in the year you receive the payment. H&r block free tax return However, if you receive an advance payment for services you agree to perform by the end of the next tax year, you can elect to postpone including the advance payment in income until the next tax year. H&r block free tax return However, you cannot postpone including any payment beyond that tax year. H&r block free tax return Service agreement. H&r block free tax return   You can postpone reporting income from an advance payment you receive for a service agreement on property you sell, lease, build, install, or construct. H&r block free tax return This includes an agreement providing for incidental replacement of parts or materials. H&r block free tax return However, this applies only if you offer the property without a service agreement in the normal course of business. H&r block free tax return Postponement not allowed. H&r block free tax return   Generally, one cannot postpone including an advance payment in income for services if either of the following applies. H&r block free tax return You are to perform any part of the service after the end of the tax year immediately following the year you receive the advance payment. H&r block free tax return You are to perform any part of the service at any unspecified future date that may be after the end of the tax year immediately following the year you receive the advance payment. H&r block free tax return Examples. H&r block free tax return   In each of the following examples, assume the tax year is a calendar year and that the accrual method of accounting is used. H&r block free tax return Example 1. H&r block free tax return You manufacture, sell, and service computers. H&r block free tax return You received payment in 2012 for a one-year contingent service contract on a computer you sold. H&r block free tax return You can postpone including in income the part of the payment you did not earn in 2012 if, in the normal course of your business, you offer computers for sale without a contingent service contract. H&r block free tax return Example 2. H&r block free tax return You are in the television repair business. H&r block free tax return You received payments in 2012 for one-year contracts under which you agree to repair or replace certain parts that fail to function properly in television sets manufactured and sold by unrelated parties. H&r block free tax return You include the payments in gross income as you earn them. H&r block free tax return Example 3. H&r block free tax return You own a dance studio. H&r block free tax return On October 1, 2012, you receive payment for a one-year contract for 48 one-hour lessons beginning on that date. H&r block free tax return You give eight lessons in 2012. H&r block free tax return Under this method of including advance payments, you must include one-sixth (8/48) of the payment in income for 2012, and five-sixths (40/48) of the payment in 2013, even if you do not give all the lessons by the end of 2013. H&r block free tax return Example 4. H&r block free tax return Assume the same facts as in Example 3, except the payment is for a two-year contract for 96 lessons. H&r block free tax return You must include the entire payment in income in 2012 since part of the services may be performed after the following year. H&r block free tax return Guarantee or warranty. H&r block free tax return   Generally, you cannot postpone reporting income you receive under a guarantee or warranty contract. H&r block free tax return Prepaid rent. H&r block free tax return   You cannot postpone reporting income from prepaid rent. H&r block free tax return Prepaid rent does not include payment for the use of a room or other space when significant service is also provided for the occupant. H&r block free tax return You provide significant service when you supply space in a hotel, boarding house, tourist home, motor court, motel, or apartment house that furnishes hotel services. H&r block free tax return Books and records. H&r block free tax return   Any advance payment you include in gross receipts on your tax return for the year you receive payment must not be less than the payment you include in income for financial reports under the method of accounting used for those reports. H&r block free tax return Financial reports include reports to shareholders, partners, beneficiaries, and other proprietors for credit purposes and consolidated financial statements. H&r block free tax return IRS approval. H&r block free tax return   You must file Form 3115 to obtain IRS approval to change your method of accounting for advance payment for services. H&r block free tax return Advance Payment for Sales Special rules apply to including income from advance payments on agreements for future sales or other dispositions of goods held primarily for sale to customers in the ordinary course of your trade or business. H&r block free tax return However, the rules do not apply to a payment (or part of a payment) for services that are not an integral part of the main activities covered under the agreement. H&r block free tax return An agreement includes a gift certificate that can be redeemed for goods. H&r block free tax return Amounts due and payable are considered received. H&r block free tax return How to report payments. H&r block free tax return   Generally, include an advance payment in income in the year in which you receive it. H&r block free tax return However, you can use the alternative method, discussed next. H&r block free tax return Alternative method of reporting. H&r block free tax return   Under the alternative method, generally include an advance payment in income in the earlier tax year in which you: Include advance payments in gross receipts under the method of accounting you use for tax purposes, or Include any part of advance payments in income for financial reports under the method of accounting used for those reports. H&r block free tax return Financial reports include reports to shareholders, partners, beneficiaries, and other proprietors for credit purposes and consolidated financial statements. H&r block free tax return Example 1. H&r block free tax return You are a retailer. H&r block free tax return You use an accrual method of accounting and account for the sale of goods when you ship the goods. H&r block free tax return You use this method for both tax and financial reporting purposes. H&r block free tax return You can include advance payments in gross receipts for tax purposes in either: (a) the tax year in which you receive the payments; or (b) the tax year in which you ship the goods. H&r block free tax return However, see Exception for inventory goods, later. H&r block free tax return Example 2. H&r block free tax return You are a calendar year taxpayer. H&r block free tax return You manufacture household furniture and use an accrual method of accounting. H&r block free tax return Under this method, you accrue income for your financial reports when you ship the furniture. H&r block free tax return For tax purposes, you do not accrue income until the furniture has been delivered and accepted. H&r block free tax return In 2012, you received an advance payment of $8,000 for an order of furniture to be manufactured for a total price of $20,000. H&r block free tax return You shipped the furniture to the customer in December 2012, but it was not delivered and accepted until January 2013. H&r block free tax return For tax purposes, you include the $8,000 advance payment in gross income for 2012; and include the remaining $12,000 of the contract price in gross income for 2013. H&r block free tax return Information schedule. H&r block free tax return   If you use the alternative method of reporting advance payments, you must attach a statement with the following information to your tax return each year. H&r block free tax return Total advance payments received in the current tax year. H&r block free tax return Total advance payments received in earlier tax years and not included in income before the current tax year. H&r block free tax return Total payments received in earlier tax years included in income for the current tax year. H&r block free tax return Exception for inventory goods. H&r block free tax return   If you have an agreement to sell goods properly included in inventory, you can postpone including the advance payment in income until the end of the second tax year following the year you receive an advance payment if, on the last day of the tax year, you meet the following requirements. H&r block free tax return You account for the advance payment under the alternative method (discussed earlier). H&r block free tax return You have received a substantial advance payment on the agreement (discussed next). H&r block free tax return You have enough substantially similar goods on hand, or available through your normal source of supply, to satisfy the agreement. H&r block free tax return These rules also apply to an agreement, such as a gift certificate, that can be satisfied with goods that cannot be identified in the tax year you receive an advance payment. H&r block free tax return   If you meet these conditions, all advance payments you receive by the end of the second tax year, including payments received in prior years but not reported, must be included in income by the second tax year following the tax year of receipt of substantial advance payments. H&r block free tax return You must also deduct in that second year all actual or estimated costs for the goods required to satisfy the agreement. H&r block free tax return If you estimated the cost, you must take into account any difference between the estimate and the actual cost when the goods are delivered. H&r block free tax return Note. H&r block free tax return You must report any advance payments you receive after the second year in the year received. H&r block free tax return No further deferral is allowed. H&r block free tax return Substantial advance payments. H&r block free tax return   Under an agreement for a future sale, you have substantial advance payments if, by the end of the tax year, the total advance payments received during that year and preceding tax years are equal to or more than the total costs reasonably estimated to be includible in inventory because of the agreement. H&r block free tax return Example. H&r block free tax return You are a calendar year, accrual method taxpayer who accounts for advance payments under the alternative method. H&r block free tax return In 2008, you entered into a contract for the sale of goods properly includible in your inventory. H&r block free tax return The total contract price is $50,000 and you estimate that your total inventoriable costs for the goods will be $25,000. H&r block free tax return You receive the following advance payments under the contract. H&r block free tax return 2009 $17,500 2010 10,000 2011 7,500 2012 5,000 2013 5,000 2014 5,000 Total contract price $50,000   Your customer asked you to deliver the goods in 2015. H&r block free tax return In your 2010 closing inventory, you had on hand enough of the type of goods specified in the contract to satisfy the contract. H&r block free tax return Since the advance payments you had received by the end of 2010 were more than the costs you estimated, the payments are substantial advance payments. H&r block free tax return   For 2012, include in income all payments you received by the end of 2012, the second tax year following the tax year in which you received substantial advance payments. H&r block free tax return You must include $40,000 in sales for 2012 (the total amounts received from 2009 through 2012) and include in inventory the cost of the goods (or similar goods) on hand. H&r block free tax return If no such goods are on hand, then estimate the cost necessary to satisfy the contract. H&r block free tax return   No further deferral is allowed. H&r block free tax return You must include in gross income the advance payment you receive each remaining year of the contract. H&r block free tax return Take into account the difference between any estimated cost of goods sold and the actual cost when you deliver the goods in 2015. H&r block free tax return IRS approval. H&r block free tax return   You must file Form 3115 to obtain IRS approval to change your method of accounting for advance payments for sales. H&r block free tax return Expenses Under an accrual method of accounting, you generally deduct or capitalize a business expense when both the following apply. H&r block free tax return The all-events test has been met. H&r block free tax return The test is met when: All events have occurred that fix the fact of liability, and The liability can be determined with reasonable accuracy. H&r block free tax return Economic performance has occurred. H&r block free tax return Economic Performance Generally, you cannot deduct or capitalize a business expense until economic performance occurs. H&r block free tax return If your expense is for property or services provided to you, or for your use of property, economic performance occurs as the property or services are provided or the property is used. H&r block free tax return If your expense is for property or services you provide to others, economic performance occurs as you provide the property or services. H&r block free tax return Example. H&r block free tax return You are a calendar year taxpayer. H&r block free tax return You buy office supplies in December 2012. H&r block free tax return You receive the supplies and the bill in December, but you pay the bill in January 2013. H&r block free tax return You can deduct the expense in 2012 because all events have occurred to fix the liability, the amount of the liability can be determined, and economic performance occurred in 2012. H&r block free tax return Your office supplies may qualify as a recurring item, discussed later. H&r block free tax return If so, you can deduct them in 2012, even if the supplies are not delivered until 2013 (when economic performance occurs). H&r block free tax return Workers' compensation and tort liability. H&r block free tax return   If you are required to make payments under workers' compensation laws or in satisfaction of any tort liability, economic performance occurs as you make the payments. H&r block free tax return If you are required to make payments to a special designated settlement fund established by court order for a tort liability, economic performance occurs as you make the payments. H&r block free tax return Taxes. H&r block free tax return   Economic performance generally occurs as estimated income tax, property taxes, employment taxes, etc. H&r block free tax return are paid. H&r block free tax return However, you can elect to treat taxes as a recurring item, discussed later. H&r block free tax return You can also elect to ratably accrue real estate taxes. H&r block free tax return See chapter 5 of Publication 535 for information about real estate taxes. H&r block free tax return Other liabilities. H&r block free tax return   Other liabilities for which economic performance occurs as you make payments include liabilities for breach of contract (to the extent of incidental, consequential, and liquidated damages), violation of law, rebates and refunds, awards, prizes, jackpots, insurance, and warranty and service contracts. H&r block free tax return Interest. H&r block free tax return   Economic performance occurs with the passage of time (as the borrower uses, and the lender forgoes use of, the lender's money) rather than as payments are made. H&r block free tax return Compensation for services. H&r block free tax return   Generally, economic performance occurs as an employee renders service to the employer. H&r block free tax return However, deductions for compensation or other benefits paid to an employee in a year subsequent to economic performance are subject to the rules governing deferred compensation, deferred benefits, and funded welfare benefit plans. H&r block free tax return For information on employee benefit programs, see Publication 15-B, Employer's Tax Guide to Fringe Benefits. H&r block free tax return Vacation pay. H&r block free tax return   You can take a current deduction for vacation pay earned by your employees if you pay it during the year or, if the amount is vested, within 2½ months after the end of the year. H&r block free tax return If you pay it later than this, you must deduct it in the year actually paid. H&r block free tax return An amount is vested if your right to it cannot be nullified or cancelled. H&r block free tax return Exception for recurring items. H&r block free tax return   An exception to the economic performance rule allows certain recurring items to be treated as incurred during the tax year even though economic performance has not occurred. H&r block free tax return The exception applies if all the following requirements are met. H&r block free tax return The all-events test, discussed earlier, is met. H&r block free tax return Economic performance occurs by the earlier of the following dates. H&r block free tax return 8½ months after the close of the year. H&r block free tax return The date you file a timely return (including extensions) for the year. H&r block free tax return The item is recurring in nature and you consistently treat similar items as incurred in the tax year in which the all-events test is met. H&r block free tax return Either: The item is not material, or Accruing the item in the year in which the all-events test is met results in a better match against income than accruing the item in the year of economic performance. H&r block free tax return This exception does not apply to workers' compensation or tort liabilities. H&r block free tax return Amended return. H&r block free tax return   You may be able to file an amended return and treat a liability as incurred under the recurring item exception. H&r block free tax return You can do so if economic performance for the liability occurs after you file your tax return for the year, but within 8½ months after the close of the tax year. H&r block free tax return Recurrence and consistency. H&r block free tax return   To determine whether an item is recurring and consistently reported, consider the frequency with which the item and similar items are incurred (or expected to be incurred) and how you report these items for tax purposes. H&r block free tax return A new expense or an expense not incurred every year can be treated as recurring if it is reasonable to expect that it will be incurred regularly in the future. H&r block free tax return Materiality. H&r block free tax return   Factors to consider in determining the materiality of a recurring item include the size of the item (both in absolute terms and in relation to your income and other expenses) and the treatment of the item on your financial statements. H&r block free tax return   An item considered material for financial statement purposes is also considered material for tax purposes. H&r block free tax return However, in certain situations an immaterial item for financial accounting purposes is treated as material for purposes of economic performance. H&r block free tax return Matching expenses with income. H&r block free tax return   Costs directly associated with the revenue of a period are properly allocable to that period. H&r block free tax return To determine whether the accrual of an expense in a particular year results in a better match with the income to which it relates, generally accepted accounting principles (GAAP; visit www. H&r block free tax return fasab. H&r block free tax return gov/accepted. H&r block free tax return html) are an important factor. H&r block free tax return   For example, if you report sales income in the year of sale, but you do not ship the goods until the following year, the shipping costs are more properly matched to income in the year of sale than the year the goods are shipped. H&r block free tax return Expenses that cannot be practically associated with income of a particular period, such as advertising costs, should be assigned to the period the costs are incurred. H&r block free tax return However, the matching requirement is considered met for certain types of expenses. H&r block free tax return These expenses include taxes, payments under insurance, warranty, and service contracts, rebates, refunds, awards, prizes, and jackpots. H&r block free tax return Expenses Paid in Advance An expense you pay in advance is deductible only in the year to which it applies, unless the expense qualifies for the 12-month rule. H&r block free tax return Under the 12-month rule, a taxpayer is not required to capitalize amounts paid to create certain rights or benefits for the taxpayer that do not extend beyond the earlier of the following. H&r block free tax return 12 months after the right or benefit begins, or The end of the tax year after the tax year in which payment is made. H&r block free tax return If you have not been applying the general rule (an expense paid in advance is deductible only in the year to which it applies) and/or the 12-month rule to the expenses you paid in advance, you must get IRS approval before using the general rule and/or the 12-month rule. H&r block free tax return See Change in Accounting Method, later, for information on how to get IRS approval. H&r block free tax return See Expense paid in advance under Cash Method, earlier, for examples illustrating the application of the general and 12-month rules. H&r block free tax return Related Persons Business expenses and interest owed to a related person who uses the cash method of accounting are not deductible until you make the payment and the corresponding amount is includible in the related person's gross income. H&r block free tax return Determine the relationship for this rule as of the end of the tax year for which the expense or interest would otherwise be deductible. H&r block free tax return See section 267 of the Internal Revenue Code and Publication 542, Corporations, for the definition of related person. H&r block free tax return Inventories An inventory is necessary to clearly show income when the production, purchase, or sale of merchandise is an income-producing factor. H&r block free tax return If you must account for an inventory in your business, you must use an accrual method of accounting for your purchases and sales. H&r block free tax return However, see Exceptions, next. H&r block free tax return See also Accrual Method, earlier. H&r block free tax return To figure taxable income, you must value your inventory at the beginning and end of each tax year. H&r block free tax return To determine the value, you need a method for identifying the items in your inventory and a method for valuing these items. H&r block free tax return See Identifying Cost and Valuing Inventory, later. H&r block free tax return The rules for valuing inventory are not the same for all businesses. H&r block free tax return The method you use must conform to generally accepted accounting principles for similar businesses and must clearly reflect income. H&r block free tax return Your inventory practices must be consistent from year to year. H&r block free tax return The rules discussed here apply only if they do not conflict with the uniform capitalization rules of section 263A and the mark-to-market rules of section 475. H&r block free tax return Exceptions The following taxpayers can use the cash method of accounting even if they produce, purchase, or sell merchandise. H&r block free tax return These taxpayers can also account for inventoriable items as materials and supplies that are not incidental (discussed later). H&r block free tax return A qualifying taxpayer under Revenue Procedure 2001-10 on page 272 of Internal Revenue Bulletin 2001-2, available at www. H&r block free tax return irs. H&r block free tax return gov/pub/irs-irbs/irb01–02. H&r block free tax return pdf. H&r block free tax return A qualifying small business taxpayer under Revenue Procedure 2002-28, on page 815 of Internal Revenue Bulletin 2002-18, available at www. H&r block free tax return irs. H&r block free tax return gov/pub/irs-irbs/irb02–18. H&r block free tax return pdf. H&r block free tax return In addition to the information provided in this publication, you should see the revenue procedures referenced in the list, above, and the instructions for Form 3115 for information you will need to adopt or change to these accounting methods (see Changing methods, later). H&r block free tax return Qualifying taxpayer. H&r block free tax return   You are a qualifying taxpayer under Revenue Procedure 2001-10 only if: You satisfy the gross receipts test for each prior tax year ending on or after December 17, 1998 (see Gross receipts test for qualifying taxpayers, next). H&r block free tax return Your average annual gross receipts for each test year (explained in Step 1, listed next) must be $1 million or less. H&r block free tax return You are not a tax shelter as defined under section 448(d)(3) of the Internal Revenue Code. H&r block free tax return Gross receipts test for qualifying taxpayers. H&r block free tax return   To determine if you meet the gross receipts test for qualifying taxpayers, use the following steps: Step 1. H&r block free tax return List each of the test years. H&r block free tax return For qualifying taxpayers under Revenue Procedure 2001-10, the test years are each prior tax year ending on or after December 17, 1998. H&r block free tax return Step 2. H&r block free tax return Determine your average annual gross receipts for each test year listed in Step 1. H&r block free tax return Your average annual gross receipts for a tax year is determined by adding the gross receipts for that tax year and the 2 preceding tax years and dividing the total by 3. H&r block free tax return Step 3. H&r block free tax return You meet the gross receipts test for qualifying taxpayers if your average annual gross receipts for each test year listed in Step 1 is $1 million or less. H&r block free tax return Qualifying small business taxpayer. H&r block free tax return   You are a qualifying small business taxpayer under Revenue Procedure 2002-28 only if: You satisfy the gross receipts test for each prior tax year ending on or after December 31, 2000 (see Gross receipts test for qualifying small business taxpayers, next). H&r block free tax return Your average annual gross receipts for each test year (explained in Step 1, listed next) must be $10 million or less. H&r block free tax return You are not prohibited from using the cash method under section 448 of the Internal Revenue Code. H&r block free tax return Your principle business activity is an eligible business. H&r block free tax return See Eligible business, later. H&r block free tax return You have not changed (or have not been required to change) from the cash method because you became ineligible to use the cash method under Revenue Procedure 2002-28. H&r block free tax return Note. H&r block free tax return Revenue Procedure 2002-28 does not apply to a farming business of a qualifying small business taxpayer. H&r block free tax return A taxpayer engaged in the trade or business of farming generally is allowed to use the cash method for any farming business. H&r block free tax return See Special rules for farming businesses under Cash Method, earlier. H&r block free tax return Gross receipts test for qualifying small business taxpayers. H&r block free tax return   To determine if you meet the gross receipts test for qualifying small business taxpayers, use the following steps: Step 1. H&r block free tax return List each of the test years. H&r block free tax return For qualifying small business taxpayers under Revenue Procedure 2002-28, the test years are each prior tax year ending on or after December 31, 2000. H&r block free tax return Step 2. H&r block free tax return Determine your average annual gross receipts for each test year listed in Step 1. H&r block free tax return Your average annual gross receipts for a tax year is determined by adding the gross receipts for that tax year and the 2 preceding tax years and dividing the total by 3. H&r block free tax return Step 3. H&r block free tax return You meet the gross receipts test for qualifying small business taxpayers if your average annual gross receipts for each test year listed in Step 1 is $10 million or less. H&r block free tax return Eligible business. H&r block free tax return   An eligible business is any business for which a qualified small business taxpayer can use the cash method and choose to not keep an inventory. H&r block free tax return You have an eligible business if you meet any of the following requirements. H&r block free tax return Your principal business activity is described in a North American Industry Classification System (NAICS) code other than any of the following NAICS subsector codes: NAICS codes 211 and 212 (mining activities). H&r block free tax return NAICS codes 31-33 (manufacturing). H&r block free tax return NAICS code 42 (wholesale trade). H&r block free tax return NAICS codes 44-45 (retail trade). H&r block free tax return NAICS codes 5111 and 5122 (information industries). H&r block free tax return Your principal business activity is the provision of services, including the provision of property incident to those services. H&r block free tax return Your principal business activity is the fabrication or modification of tangible personal property upon demand in accordance with customer design or specifications. H&r block free tax return   Information about the NAICS codes can be found at http://www. H&r block free tax return census. H&r block free tax return gov/naics or in the instructions for your federal income tax return. H&r block free tax return Gross receipts. H&r block free tax return   In general, gross receipts must include all receipts from all your trades or businesses that must be recognized under the method of accounting you used for that tax year for federal income tax purposes. H&r block free tax return See the definit
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U.S. Commodity Futures Trading Commission (CFTC)

The mission of the CFTC is to protect market users and the public from fraud, manipulation, and abusive practices related to the sale of commodity and financial futures and options, and to foster open, competitive, and financially sound futures and option markets. In pursuit of its mission, the CFTC investigates and prosecutes commodities fraud, including foreign currency schemes, energy manipulation and hedge fund fraud, and works with other federal and state agencies to bring criminal and other actions. The CFTC also engages in public education and outreach by participating in consumer groups and issuing Consumer Advisories and other educational materials.

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Website: U.S. Commodity Futures Trading Commission (CFTC)

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Phone Number: (202) 418-5000

TTY: (202) 418-5514

The H&r Block Free Tax Return

H&r block free tax return 8. H&r block free tax return   Dividendos y Otras Distribuciones Table of Contents Recordatorio Introduction Useful Items - You may want to see: Información GeneralDividendos no declarados en el Formulario 1099-DIV. H&r block free tax return Cómo se le informa del impuesto retenido. H&r block free tax return Nominatarios. H&r block free tax return Dividendos OrdinariosDividendos Calificados Dividendos Utilizados para la Compra de más Acciones Fondos de Inversión del Mercado Monetario Distribuciones de Ganancias de CapitalAjuste a la base. H&r block free tax return Distribuciones que no son DividendosDistribuciones de Liquidación Distribuciones de Acciones y Derechos a Acciones Otras DistribucionesRequisito de declarar ciertos datos. H&r block free tax return Tratamiento del impuesto mínimo alternativo. H&r block free tax return Cómo Declarar el Ingreso de DividendosDeducción de los intereses de inversiones. H&r block free tax return Recordatorio Ingresos de fuentes en el extranjero. H&r block free tax return  Si es ciudadano de los Estados Unidos con ingresos por concepto de dividendos de fuentes fuera de los Estados Unidos (ingresos del extranjero), tiene que declarar todos estos ingresos en la declaración de impuestos a menos que sean ingresos exentos por las leyes de los EE. H&r block free tax return UU. H&r block free tax return Esto es cierto independientemente de si reside dentro o fuera de los EE. H&r block free tax return UU. H&r block free tax return y si recibe o no el Formulario 1099 de un pagador extranjero. H&r block free tax return Introduction Este capítulo explica el trato tributario que se le da a: Dividendos ordinarios, Distribuciones de ganancias de capital, Distribuciones que no sean dividendos y Otras distribuciones que pueda recibir de una sociedad anónima o de un fondo mutuo. H&r block free tax return Este capítulo también explica cómo se declara el ingreso de dividendos en su declaración de impuestos. H&r block free tax return Los dividendos son distribuciones de dinero, acciones u otras clases de bienes que le paga a usted una sociedad anónima o fondo mutuo. H&r block free tax return Puede recibir también dividendos a través de una sociedad colectiva, un caudal hereditario, un fideicomiso o una asociación a la que se le gravan impuestos como a una sociedad anónima. H&r block free tax return Sin embargo, algunas cantidades recibidas por usted y denominadas dividendos, son de hecho ingresos de intereses. H&r block free tax return Vea Dividendos que en realidad son intereses , bajo Intereses Sujetos a Impuestos, en el capítulo 7. H&r block free tax return La mayoría de las distribuciones se pagan en efectivo (o con cheque). H&r block free tax return No obstante, las distribuciones pueden consistir en más acciones, derechos de suscripción de acciones u otros bienes o servicios adicionales. H&r block free tax return Useful Items - You may want to see: Publicación 514 Foreign Tax Credit for Individuals (Crédito por impuestos del extranjero para personas físicas), en inglés 550 Investment Income and Expenses (Ingresos y gastos de inversiones), en inglés Formulario (e Instrucciones) Anexo B (Formulario 1040A o 1040) Interest and Ordinary Dividends (Intereses y dividendos ordinarios), en inglés Información General Esta sección explica las reglas generales sobre ingresos de dividendos. H&r block free tax return Impuesto sobre ingresos no derivados del trabajo de determinados hijos. H&r block free tax return   El impuesto sobre una parte del ingreso no derivado del trabajo recibido por un hijo en 2013 puede ser tributado a la tasa impositiva correspondiente de los padres. H&r block free tax return Si es así, tiene que completar el Formulario 8615, Tax for Certain Children Who Have Unearned Income (Impuestos para determinados hijos que tienen ingresos no derivados del trabajo), en inglés, y adjuntarlo a la declaración de impuestos del hijo. H&r block free tax return Si no es así, no se requiere el Formulario 8615 y los ingresos del menor están sujetos a la tasa impositiva que le corresponde. H&r block free tax return       Algunos padres o madres pueden optar por incluir los intereses y dividendos del hijo en la declaración de impuestos del padre o la madre si se cumplen ciertos requisitos. H&r block free tax return Si puede, utilice el Formulario 8814, Parents' Election To Report Child's Interest and Dividends (Elección del padre o de la madre de declarar los intereses y dividendos de un hijo), en inglés, para este propósito. H&r block free tax return   Si desea obtener más información sobre el impuesto sobre los ingresos no derivados del trabajo de un hijo y la elección de los padres, vea el capítulo 31. H&r block free tax return Beneficiario de un caudal hereditario o fideicomiso. H&r block free tax return    Los dividendos y otras distribuciones que reciba como beneficiario de un caudal hereditario o de un fideicomiso por lo general se consideran ingresos tributables. H&r block free tax return El fiduciario debería enviarle un Anexo K-1 (Formulario 1041), Beneficiary's Share of Income, Deductions, Credits, etc. H&r block free tax return (Parte del ingreso, deducciones, créditos, etc. H&r block free tax return , de un beneficiario), en inglés. H&r block free tax return Su copia del Anexo K-1 (Formulario 1041) e instrucciones le indicarán dónde debe declarar los ingresos en el Formulario 1040. H&r block free tax return Número de Seguro Social (SSN, por sus siglas en inglés) o número de identificación de contribuyente individual (ITIN por sus siglas en inglés). H&r block free tax return    Tiene que darle su nombre y número de Seguro Social (o su número de identificación de contribuyente individual (ITIN, por sus siglas en inglés)) a toda persona que esté obligada por la ley federal de impuestos a expedir una declaración, un informe u otro documento relacionado con usted. H&r block free tax return Esto incluye las entidades que pagan dividendos. H&r block free tax return Es posible que tenga que pagar una multa si no le proporciona su número de Seguro Social o su número de identificación de contribuyente individual (ITIN) a la entidad que paga los dividendos. H&r block free tax return Para obtener más información sobre los números de Seguro Social y los números de identificación de contribuyente individual, vea Número de Seguro Social en el capítulo 1. H&r block free tax return Retención adicional. H&r block free tax return   El ingreso de dividendos por lo general no está sujeto a la retención normal. H&r block free tax return Sin embargo, podría estar sujeto a la retención adicional de impuestos para asegurar que el impuesto sobre el ingreso sea recaudado sobre ese ingreso. H&r block free tax return Conforme a la retención adicional de impuestos, la entidad que paga los dividendos tiene que retener impuestos sobre los ingresos de la cantidad que le paga a usted, aplicándo la tasa de retención correspondiente. H&r block free tax return   También puede requerirse una retención adicional de impuestos si el IRS ha determinado que usted ha declarado una cantidad inferior de ingresos de intereses o dividendos de lo que dn verdad recibió. H&r block free tax return Para más información, vea Retención Adicional , en el capítulo 4. H&r block free tax return Certificado de acciones a nombre de dos o más personas. H&r block free tax return   Si dos o más personas tienen acciones de propiedad conjunta, propiedad en tenencia conyugal o propiedad en tenencia común, la parte de los dividendos de las acciones que le corresponde a cada persona está determinada por las leyes locales. H&r block free tax return Formulario 1099-DIV. H&r block free tax return   La mayoría de las sociedades anónimas y fondos mutuos usan el Formulario 1099-DIV, Dividends and Distributions (Dividendos y distribuciones), en inglés, para informarle de las distribuciones que recibió de ellas durante el año. H&r block free tax return Guarde este formulario con su documentación. H&r block free tax return No tiene que adjuntar el formulario a su declaración de impuestos. H&r block free tax return Dividendos no declarados en el Formulario 1099-DIV. H&r block free tax return   Aun si no recibe el Formulario 1099-DIV, tendrá que declarar todos sus ingresos de dividendos sujetos a impuestos. H&r block free tax return Por ejemplo, podría recibir acciones repartidas de dividendos de sociedades colectivas o de sociedades anónimas de tipo S. H&r block free tax return A usted se le informa de dichos dividendos en el Anexo K-1 (del Formulario 1065), Partner's Share of Income, Deductions, Credits, etc. H&r block free tax return (Parte de los ingresos, deducciones, créditos, etc. H&r block free tax return , correspondiente al socio), en inglés, y en el Anexo K-1 (del Formulario 1120S), Shareholder's Share of Income, Deductions, Credits, etc. H&r block free tax return (Parte de los ingresos, deducciones, créditos, etc. H&r block free tax return , correspondiente al accionista), en inglés. H&r block free tax return Cómo se le informa del impuesto retenido. H&r block free tax return   Si se le retienen impuestos sobre su ingreso de dividendos, el pagador tiene que darle un Formulario 1099-DIV que indica la cantidad retenida. H&r block free tax return Nominatarios. H&r block free tax return   Si alguien recibe distribuciones como nominatario suyo, esa persona le dará un Formulario 1099-DIV que indicará las distribuciones recibidas en nombre de usted. H&r block free tax return Formulario 1099-MISC. H&r block free tax return   A usted se le tiene que informar de ciertos pagos sustitutivos en lugar de dividendos o intereses exentos de impuestos que recibe de un agente corredor bursátil en su nombre en el Formulario 1099-MISC, Miscellaneous Income (Ingresos misceláneos), en inglés, o en un documento similar. H&r block free tax return Vea Reporting Substitute Payments (Cómo informar de pagos sustitutivos), bajo Short Sales (Ventas a corto al descubierto), en el capítulo 4 de la Publicación 550, en inglés, para más información sobre cómo informar de estos pagos. H&r block free tax return Cantidad incorrecta que aparece en un Formulario 1099. H&r block free tax return   Si recibe un Formulario 1099 que indica una cantidad incorrecta (u otra información incorrecta), debe pedirle a la persona que le dio el formulario que le envíe otro formulario corregido. H&r block free tax return En el nuevo Formulario 1099 que recibirá aparecerá la palabra “ Corrected ” (Corregido). H&r block free tax return Dividendos de acciones vendidas. H&r block free tax return   Si se venden o intercambian acciones, o si se enajenan de otra manera después de que se declare un dividendo pero antes de ser pagado, el dueño oficial (usualmente la persona a quien se le expide el cheque de dividendos) tiene que incluir el dividendo en sus ingresos. H&r block free tax return Dividendos recibidos en enero. H&r block free tax return   A usted se le considera que ha recibido un dividendo el 31 de diciembre si un fondo mutuo (u otra compañía de inversiones reglamentada) o una sociedad de inversión inmobiliaria (REIT, por sus siglas en inglés) declara un dividendo (incluyendo todo dividendo que produzca intereses exentos o una distribución de ganancias de capital) en octubre, noviembre o diciembre, pagadero a los accionistas oficiales en una fecha de uno de estos meses, pero que realmente paga el dividendo durante enero del próximo año calendario. H&r block free tax return Usted tiene que declarar el dividendo en el año en que fue declarado. H&r block free tax return Dividendos Ordinarios Los dividendos ordinarios (sujetos a impuestos) son la distribución más común hecha por una sociedad anónima o un fondo mutuo. H&r block free tax return Se pagan usando ingresos y ganancias y son considerados ingresos ordinarios para usted. H&r block free tax return Esto significa que no son ganancias de capital. H&r block free tax return Puede suponer que todo dividendo que reciba de acciones comunes o preferentes es un dividendo ordinario a menos que la sociedad anónima o el fondo mutuo que efectúa el pago le indique lo contrario. H&r block free tax return Los dividendos ordinarios se muestran en el recuadro 1a del Formulario 1099-DIV que usted reciba. H&r block free tax return Dividendos Calificados Los dividendos calificados son los dividendos ordinarios sujetos a la misma tasa impositiva máxima del 0%, 15% o 20% que corresponde a las ganancias netas de capital. H&r block free tax return Deben indicarse en el recuadro 1b del Formulario 1099-DIV que reciba. H&r block free tax return La tasa máxima del impuesto sobre los dividendos calificados es: 0% sobre toda cantidad que de otro modo se le impondrían impuestos a una tasa del 10% o del 15%. H&r block free tax return 15% sobre toda cantidad que de otro modo se le impondrían impuestos a tasas mayores de 15%, pero menores de 39. H&r block free tax return 6%. H&r block free tax return 20% sobre toda cantidad que de otro modo se le impondrían impuestos a una tasa de 39. H&r block free tax return 6%. H&r block free tax return Para tener derecho a la tasa impositiva máxima, todos los requisitos siguientes tienen que cumplirse: Los dividendos tienen que haber sido pagados por una sociedad anónima estadounidense o una sociedad anónima extranjera calificada. H&r block free tax return Vea Sociedad anónima extranjera calificada , más adelante. H&r block free tax return Los dividendos no tienen la misma clasificación que aquéllos incluidos más adelante bajo Dividendos que no son dividendos calificados . H&r block free tax return Usted cumple el período de tenencia (tema que se explica a continuación). H&r block free tax return Período de tenencia. H&r block free tax return   Usted tiene que haber tenido las acciones por más de 60 días durante el período de 121 días que comienza 60 días antes de la fecha del ex dividendo. H&r block free tax return La fecha del ex dividendo es la primera fecha que sigue a la declaración del dividendo en la cual el comprador de las acciones no tiene derecho a recibir el siguiente pago de dividendos. H&r block free tax return En su lugar, el vendedor recibirá el dividendo. H&r block free tax return   Cuando cuente el número de días que tuvo las acciones, incluya el día en que enajenó las acciones, pero no el día en que las adquirió. H&r block free tax return Vea los ejemplos más adelante. H&r block free tax return Excepción para acciones preferentes. H&r block free tax return   En el caso de acciones preferentes, tiene que haber tenido las acciones por más de 90 días durante el período de 181 días que comienza 90 días antes de la fecha del ex dividendo, si los dividendos se deben a períodos cuyo total es más de 366 días. H&r block free tax return Si los dividendos preferentes se deben a períodos cuyo total es menos de 367 días, les corresponde el período de tenencia del párrafo anterior. H&r block free tax return Ejemplo 1. H&r block free tax return Usted compró 5,000 acciones ordinarias de la Compañía XYZ el 9 de julio de 2013. H&r block free tax return La Compañía XYZ pagó un dividendo en efectivo de 10 centavos por cada acción. H&r block free tax return La fecha del ex dividendo fue el 16 de julio de 2013. H&r block free tax return El Formulario 1099-DIV de la Compañía XYZ muestra $500 en el recuadro 1a (dividendos ordinarios) y en el recuadro 1b (dividendos calificados). H&r block free tax return No obstante, usted vendió las 5,000 acciones el 12 de agosto de 2013. H&r block free tax return Tuvo las acciones de la Compañía XYZ por sólo 34 días del período de 121 días (desde el 10 de julio de 2013 hasta el 12 de agosto de 2013). H&r block free tax return El período de 121 días comenzó el 17 de mayo de 2013 (60 días antes de la fecha del ex dividendo) y terminó el 14 de septiembre de 2013. H&r block free tax return Usted no tiene dividendos calificados de la Compañía XYZ porque tuvo las acciones de la compañía por menos de 61 días. H&r block free tax return Ejemplo 2. H&r block free tax return Suponga que los hechos son los mismos que en el Ejemplo 1, excepto que compró las acciones el 15 de julio de 2013 (el día antes de la fecha del ex dividendo) y vendió las acciones el 16 de septiembre de 2013. H&r block free tax return Usted tuvo las acciones por 63 días (desde el 16 de julio de 2013 hasta el 16 de septiembre de 2013). H&r block free tax return Los $500 de dividendos calificados mostrados en el recuadro 1b del Formulario 1099-DIV son en su totalidad dividendos calificados porque tuvo las acciones por 61 días del período de 121 días (desde el 16 de julio de 2013 hasta el 14 de septiembre de 2013). H&r block free tax return Ejemplo 3. H&r block free tax return Usted compró 10,000 acciones ordinarias del Fondo Mutuo ABC el 9 de julio de 2013. H&r block free tax return El Fondo Mutuo ABC pagó un dividendo en efectivo de 10 centavos por cada acción. H&r block free tax return La fecha del ex dividendo fue el 16 de julio de 2013. H&r block free tax return El Fondo Mutuo ABC le informa que la parte del dividendo que puede ser tratada como dividendos calificados equivale a 2 centavos por cada acción. H&r block free tax return El Formulario 1099-DIV del Fondo Mutuo ABC muestra dividendos ordinarios de $1,000 y dividendos calificados de $200. H&r block free tax return Sin embargo, usted vendió las 10,000 acciones el 12 de agosto de 2013. H&r block free tax return No tiene dividendos calificados del Fondo Mutuo ABC porque tuvo las acciones del Fondo Mutuo ABC menos de 61 días. H&r block free tax return Reducción del período de tenencia cuando disminuya el riesgo de pérdida. H&r block free tax return   Al determinar si usted cumplió el período mínimo de tenencia del que se habló anteriormente, no puede contar ningún día durante el cual se cumpliera alguna de las situaciones siguientes: Tuvo una opción para vender, estaba bajo obligación por contrato de venta o había hecho (pero no cerrado) una venta al descubierto de acciones o valores sustancialmente iguales. H&r block free tax return Era el otorgante (girador) de una opción de compra de acciones o valores bursátiles sustancialmente iguales. H&r block free tax return Su riesgo de pérdida disminuye por tener una o más posiciones en bienes sustancialmente iguales o afines. H&r block free tax return   Para información sobre cómo aplicar la condición (3), vea la sección 1. H&r block free tax return 246-5 de los Reglamentos. H&r block free tax return Sociedad anónima extranjera calificada. H&r block free tax return   Una sociedad anónima extranjera es una compañía extranjera calificada si cumple alguna de las siguientes condiciones: La sociedad anónima está incorporada (constituida legalmente) en un territorio de los Estados Unidos. H&r block free tax return La sociedad anónima reúne los requisitos para recibir los beneficios de un tratado amplio de impuestos sobre el ingreso con los Estados Unidos que el Departamento del Tesoro considere satisfactorio para este propósito y que incluya un programa de intercambio de información. H&r block free tax return Para una lista de estos tratados, vea la Tabla 8-1. H&r block free tax return La sociedad anónima no cumple las condiciones (1) o (2) anteriores, pero las acciones por las cuales se paga el dividendo son comercializables en un mercado de valores bursátiles establecido en los Estados Unidos. H&r block free tax return Vea Acciones comercializables listadas , más adelante. H&r block free tax return Excepción. H&r block free tax return   Una sociedad anónima no es una sociedad anónima extranjera calificada si es una compañía extranjera de inversiones pasivas durante el año tributario en el cual se pagan los dividendos o durante el año tributario anterior. H&r block free tax return Acciones comercializables listadas. H&r block free tax return   Todas las acciones (tales como acciones comunes, ordinarias o preferentes) o recibos de depósito estadounidenses respecto a esas acciones, satisfacen el requisito (3), mencionado anteriormente bajo Sociedad anónima extranjera calificada , si se listan (cotizan) en una bolsa de valores nacional que está inscrita conforme a la sección 6 de la Securities Exchange Act (Ley de la Bolsa de Valores) de 1934 o en el Mercado de Valores Nasdaq. H&r block free tax return Si desea ver una lista de las bolsas que reúnen estos requisitos, vea www. H&r block free tax return sec. H&r block free tax return gov/divisions/marketreg/mrexchanges. H&r block free tax return shtml, en inglés. H&r block free tax return Dividendos que no son dividendos calificados. H&r block free tax return   Los dividendos enumerados a continuación no son dividendos calificados. H&r block free tax return No son dividendos calificados aunque se encuentren indicados en el recuadro 1b del Formulario 1099-DIV. H&r block free tax return Distribuciones de ganancias de capital. H&r block free tax return Dividendos pagados sobre depósitos en cajas mutuas de ahorros, bancos cooperativos, cooperativas de crédito, asociaciones de crédito a la construcción estadounidenses, asociaciones de préstamo y ahorro estadounidenses, asociaciones federales de préstamo y ahorro e instituciones financieras similares. H&r block free tax return Declare estos ingresos como ingreso de intereses. H&r block free tax return Dividendos de una sociedad anónima que es una organización exenta de impuestos o una cooperativa agrícola durante el año tributario de la sociedad anónima en el cual se pagaron los dividendos o durante el año tributable anterior de la sociedad anónima. H&r block free tax return Dividendos pagados por una sociedad anónima sobre valores bursátiles del empleador tenidos en la fecha de registro por un plan de compra de acciones para empleados (ESOP, por sus siglas en inglés) mantenido por esa sociedad anónima. H&r block free tax return Dividendos sobre acciones hasta el punto que usted esté obligado (ya sea por venta al descubierto o de otra manera) a hacer pagos afines por posiciones en bienes sustancialmente similares o relacionados. H&r block free tax return Pagos en lugar de dividendos, pero sólo si usted sabe o tiene razón de saber que los pagos no son dividendos calificados. H&r block free tax return Pagos mostrados en el recuadro 1b del Formulario 1099-DIV, provenientes de una sociedad anónima extranjera hasta el punto que usted sepa o tenga razón de saber que los pagos no son dividendos calificados. H&r block free tax return Tabla 8-1. H&r block free tax return Tratados de Impuestos sobre los Ingresos Los tratados de impuestos sobre los ingresos que los Estados Unidos tiene con los siguientes países cumplen la condición (2) bajo Sociedad anónima extranjera calificada. H&r block free tax return       Australia India Reino Austria Indonesia Unido Alemania Irlanda República Bangladesh Islandia Checa Barbados Israel República Bélgica Italia Eslovaca Bulgaria Jamaica Rumania Canadá Japón Sri Lanka China Kazajstán Suecia Chipre Letonia Suiza Corea Lituania Sudáfrica Dinamarca Luxemburgo Tailandia Egipto Malta Trinidad y Eslovenia Marruecos Tobago España México Túnez Estonia Noruega Turquía Federación Nueva Ucrania Rusa Zelandia Venezuela Filipinas Países Bajos (Holanda)   Finlandia Paquistán   Francia Polonia   Grecia Portugal   Hungría       Dividendos Utilizados para la Compra de más Acciones La sociedad anónima en la cual usted tiene acciones podría tener un plan para la reinversión de dividendos. H&r block free tax return Tales planes le permiten optar por el uso de sus dividendos para comprar (por medio de un agente) más acciones en la sociedad anónima en vez de recibir los dividendos en efectivo. H&r block free tax return La mayoría de los fondos de inversión también permiten a los accionistas reinvertir automáticamente las distribuciones para comprar más acciones en el fondo en lugar de recibir dinero en efectivo. H&r block free tax return Si utiliza los dividendos para comprar más acciones al precio justo de mercado, todavía tiene que declarar los dividendos como ingreso. H&r block free tax return Si es miembro de un plan de reinversión de dividendos que le permite comprar más acciones a un precio menor del precio justo de mercado, tiene que declarar como ingreso de dividendos el valor justo de mercado de las acciones adicionales el día del pago de los dividendos. H&r block free tax return También tiene que declarar como ingreso de dividendos todos los cargos por servicios restados de sus dividendos en efectivo antes de que los dividendos sean utilizados para comprar acciones adicionales. H&r block free tax return Pero tal vez pueda deducir el cargo por servicios. H&r block free tax return Vea el capítulo 28 para más información sobre la deducción de gastos relativos a la producción de ingresos. H&r block free tax return En algunos planes de reinversión de dividendos, se puede invertir más efectivo para comprar acciones a un precio menor del valor justo de mercado. H&r block free tax return Si elige hacer esto, tiene que declarar como ingreso de dividendos la diferencia entre el efectivo que invierte y el valor justo de mercado de las acciones que compra. H&r block free tax return Al calcular esta cantidad, utilice el valor justo de mercado de las acciones el día del pago del dividendo. H&r block free tax return Fondos de Inversión del Mercado Monetario Declare las cantidades que reciba de fondos de inversión del mercado monetario como ingreso de dividendos. H&r block free tax return Los fondos de inversión del mercado monetario son una clase de fondo mutuo y no deben ser confundidos con cuentas bancarias del mercado monetario que pagan intereses. H&r block free tax return Distribuciones de Ganancias de Capital Las distribuciones de ganancias de capital (se denominan también dividendos de ganancias de capital) le son pagadas a usted o acreditadas a su cuenta por fondos mutuos (u otras sociedades inversionistas reglamentadas) y sociedades de inversión inmobiliaria (REIT, por sus siglas en inglés). H&r block free tax return Estas distribuciones se mostrarán en el recuadro 2a del Formulario 1099-DIV que recibe del fondo mutuo o de la sociedad de inversión inmobiliaria. H&r block free tax return Declare las distribuciones de ganancias de capital como ganancias de capital a largo plazo independientemente de cuánto tiempo usted haya tenido las acciones en el fondo mutuo o en la sociedad de inversión inmobiliaria. H&r block free tax return Ganancias de capital no distribuidas provenientes de fondos mutuos y sociedades de inversión inmobiliaria. H&r block free tax return    Algunos fondos mutuos y sociedades de inversión inmobiliaria retienen sus ganancias de capital a largo plazo y pagan impuesto sobre ellas. H&r block free tax return Tiene que tratar su parte de estas ganancias como distribuciones, aunque en realidad no las reciba. H&r block free tax return Sin embargo, éstas no se incluyen en el Formulario 1099-DIV. H&r block free tax return En lugar de esto, a usted se le informa de dichas ganancias en el recuadro 1a del Formulario 2439 (en inglés). H&r block free tax return   Declare las ganancias de capital no distribuidas (recuadro 1a del Formulario 2439) como ganancias de capital a largo plazo en la columna (h) en la línea 11 del Anexo D (Formulario 1040). H&r block free tax return   Los impuestos pagados sobre estas ganancias por el fondo mutuo o la sociedad de inversión inmobiliaria se pueden ver en el recuadro 2 del Formulario 2439. H&r block free tax return Para que el pago de dichos impuestos se le acredite a usted, anótelos en la línea 71 del Formulario 1040 y marque el recuadro “ a ” en esa línea. H&r block free tax return Adjunte la Copia B del Formulario 2439 a su declaración y mantenga la Copia C para sus archivos. H&r block free tax return Ajuste a la base. H&r block free tax return   Aumente la base del fondo mutuo o sus intereses en una sociedad de inversión inmobiliaria por la diferencia entre la ganancia que declare y la cantidad de impuesto pagado que se le acredite a usted. H&r block free tax return Información adicional. H&r block free tax return   Para más información sobre el trato dado a las distribuciones de fondos mutuos, vea la Publicación 550, en inglés. H&r block free tax return Distribuciones que no son Dividendos Una distribución que no sea en forma de dividendo es una distribución que no se paga de los ingresos y ganancias de una sociedad anónima o un fondo mutuo. H&r block free tax return Usted debe recibir un Formulario 1099-DIV u otro estado de cuentas mostrándole la distribución que no sea en forma de dividendo. H&r block free tax return En el Formulario 1099-DIV, una distribución que no sea en forma de dividendo se mostrará en el recuadro 3. H&r block free tax return Si no recibe tal estado de cuentas, declare la distribución como un dividendo ordinario. H&r block free tax return Ajuste a la base. H&r block free tax return   Una distribución que no sea en forma de dividendo reduce la base de sus acciones. H&r block free tax return No se le gravan impuestos hasta que su base en las acciones se recupere por completo. H&r block free tax return Esta parte no sujeta a impuestos también se denomina rendimiento de capital. H&r block free tax return Es un rendimiento de la inversión en las acciones de la empresa. H&r block free tax return Si compra acciones de una sociedad anónima en lotes diferentes y en diferentes ocasiones y no puede identificar definitivamente las acciones sujetas a las distribuciones que no sean en forma de dividendos, reduzca la base de las acciones que compró primero. H&r block free tax return   Cuando la base de las acciones haya sido reducida a cero, declare como una ganancia de capital toda distribución adicional que reciba que no sea en forma de dividendos. H&r block free tax return Dependiendo de cuánto tiempo haya tenido las acciones, las declara como una ganancia de capital a largo plazo o como una ganancia de capital a corto plazo. H&r block free tax return Vea el tema titulado Período de Tenencia , en el capítulo 14. H&r block free tax return Ejemplo. H&r block free tax return Usted compró acciones en el año 2000 por $100. H&r block free tax return En el año 2003, recibió una distribución que no es dividendo de $80. H&r block free tax return No incluyó esta cantidad en su ingreso, pero redujo la base de las acciones a $20. H&r block free tax return Recibió una distribución que no es dividendo de $30 en el año 2013. H&r block free tax return Los primeros $20 de esta cantidad redujeron su base a cero. H&r block free tax return Usted declara los otros $10 como ganancia de capital a largo plazo para el año 2013. H&r block free tax return Debe declarar como ganancia de capital a largo plazo toda distribución sobre estas acciones que no sea en forma de dividendo que reciba en los siguientes años. H&r block free tax return Distribuciones de Liquidación Las distribuciones de liquidación, a veces conocidas como dividendos de liquidación, son distribuciones que se reciben durante una liquidación parcial o completa de una sociedad anónima. H&r block free tax return Estas distribuciones son, por lo menos en parte, un tipo de rendimiento del capital. H&r block free tax return Pueden pagarse en uno o más plazos. H&r block free tax return Usted recibirá un Formulario 1099-DIV de la sociedad anónima mostrándole la cantidad de una distribución de liquidación en el recuadro 8 ó 9. H&r block free tax return Para más información sobre las distribuciones de liquidación, vea el capítulo 1 de la Publicación 550, en inglés. H&r block free tax return Distribuciones de Acciones y Derechos a Acciones Las distribuciones hechas por una sociedad anónima de sus propias acciones son comúnmente conocidas como dividendos de acciones. H&r block free tax return Los derechos a acciones (también conocidos como “opción de compra de acciones”) son distribuciones hechas por una sociedad anónima de derechos para adquirir acciones de la misma. H&r block free tax return Por lo general, los dividendos de acciones y los derechos a acciones no están sujetos a impuestos para usted y no los declara en la declaración de impuestos. H&r block free tax return Dividendos de acciones y derechos a acciones sujetos a impuestos. H&r block free tax return   Las distribuciones de dividendos de acciones y de derechos a acciones están sujetas a impuestos en su caso si se cumple alguna de las siguientes condiciones: Usted o algún otro accionista tiene la opción de recibir dinero en efectivo u otros bienes en vez de recibir acciones o derechos a acciones. H&r block free tax return La distribución les da dinero en efectivo u otra propiedad a algunos accionistas y un aumento en el porcentaje de intereses en los bienes o ingresos y ganancias de la sociedad anónima a otros accionistas. H&r block free tax return La distribución se puede convertir en acciones preferentes y tiene el mismo resultado que en el punto (2). H&r block free tax return La distribución les da acciones preferentes a algunos accionistas dueños de acciones comunes y les da acciones comunes a otros accionistas dueños de acciones comunes. H&r block free tax return La distribución es sobre acciones prefe- rentes. H&r block free tax return Sin embargo, la distribución no está sujeta a impuestos si es un aumento en la proporción de conversión de las acciones preferentes convertibles hecho solamente para tener en cuenta un dividendo de acciones, un cambio proporcional en la cantidad de acciones de una sociedad anónima o un suceso similar que de otra manera resultaría en la reducción del derecho de conversión. H&r block free tax return   El término “acciones” incluye el derecho de adquirir acciones y el término “accionista” incluye al tenedor de derechos o de valores bursátiles convertibles. H&r block free tax return Si usted recibe dividendos de acciones o derechos a acciones sujetos a impuesto, incluya en sus ingresos el valor justo de mercado en la fecha de distribución. H&r block free tax return Acciones preferentes rescatables por una prima. H&r block free tax return   Si tiene acciones preferentes a un precio de rescate más alto que su precio de emisión, la diferencia (la prima de rescate) generalmente está sujeta a impuestos por concepto de una distribución implícita de acciones adicionales sobre acciones preferentes. H&r block free tax return Para más información, vea el capítulo 1 de la Publicación 550, en inglés. H&r block free tax return Base. H&r block free tax return   La base en acciones o derechos a acciones recibidas en una distribución tributable es el valor justo de mercado en el momento que fueron distribuidas. H&r block free tax return Si recibe acciones o derechos a acciones que no son tributables a usted, vea el tema titulado Stocks and Bonds (Acciones y bonos) bajo Basis of Investment Property (Base de bienes de inversión), en el capítulo 4 de la Publicación 550, en inglés, para más información sobre cómo calcular la base. H&r block free tax return Acciones fraccionarias. H&r block free tax return    Es posible que no posea suficientes acciones en una sociedad anónima para recibir una participación completa de las acciones si la sociedad anónima declara un dividendo de acciones. H&r block free tax return Sin embargo, con la aprobación de los accionistas, la sociedad anónima podría establecer un plan mediante el cual las acciones fraccionarias no sean emitidas sino que sean vendidas y las ganancias en efectivo se entreguen a los accionistas. H&r block free tax return Todo efectivo que reciba por acciones fraccionarias bajo tal clase de plan se considera una cantidad realizada en la venta de las acciones fraccionarias. H&r block free tax return Declare esta transacción en el Formulario 8949, Sales and Other Dispositions of Capital Assets (Ventas y otras enajenaciones de bienes de capital), en inglés. H&r block free tax return Anote su ganancia o pérdida, la diferencia entre el efectivo que usted recibe y la base de las acciones fraccionarias vendidas en la columna (h) del Anexo D (Formulario 1040) en la Parte I o Parte II, la que corresponda. H&r block free tax return    Declare esta transacción en el Formulario 8949 marcando el recuadro correcto. H&r block free tax return   Para más información sobre el Formulario 8949 y el Anexo D (Formulario 1040), vea el capítulo 4 de la Publicación 550. H&r block free tax return También vea las instrucciones para el Formulario 8949 y las instruccinoes para el Anexo D (Formulario 1040). H&r block free tax return Ejemplo. H&r block free tax return Usted es dueño de una acción común que compró el 3 de enero de 2004 por $100. H&r block free tax return La sociedad anónima declaró un dividendo de acciones comunes del 5% el 29 de junio de 2013. H&r block free tax return El valor justo de mercado de las acciones en el momento en que se declaró el dividendo de acciones era $200. H&r block free tax return A usted le pagaron $10 por el dividendo de acciones fraccionarias bajo un plan descrito en la sección titulada Acciones fraccionarias. H&r block free tax return Usted calcula su ganancia o pérdida de la manera siguiente: Valor justo de mercado de las acciones antiguas $200. H&r block free tax return 00 Valor justo de mercado del dividendo de acciones (efectivo recibido) +10. H&r block free tax return 00 Valor justo de mercado de las acciones antiguas y del dividendo de acciones $210. H&r block free tax return 00 Base (costo) de las acciones antiguas después del dividendo de acciones (($200 ÷ $210) × $100) $95. H&r block free tax return 24 Base (costo) del dividendo de acciones (($10 ÷ $210) × $100) + 4. H&r block free tax return 76 Total $100. H&r block free tax return 00 Efectivo recibido $10. H&r block free tax return 00 Base (costo) del dividendo de acciones − 4. H&r block free tax return 76 Ganancia $5. H&r block free tax return 24 Debido a que había tenido la acción por más de 1 año en el momento en que se declaró el dividendo de acciones, su ganancia en el dividendo de acciones es una ganancia de capital a largo plazo. H&r block free tax return Certificado de dividendo diferido. H&r block free tax return   Una sociedad anónima que declara un dividendo de acciones podría emitirle a usted un certificado de dividendo de acciones diferido que le da el derecho a acciones fraccionarias. H&r block free tax return El certificado no suele estar sujeto a impuestos cuando usted lo recibe. H&r block free tax return Si elige que la sociedad anónima venda el certificado por usted y le entregue las ganancias, su ganancia o pérdida es la diferencia entre las ganancias y la parte de su base en las acciones de la sociedad anónima asignada en el certificado. H&r block free tax return   No obstante, si recibe un certificado de dividendo de acciones diferido y puede optar por rescatarlo por efectivo en vez de acciones, el certificado está sujeto a impuestos cuando lo reciba. H&r block free tax return Tiene que incluir en sus ingresos el valor justo de mercado del certificado en la fecha en que lo recibió. H&r block free tax return Otras Distribuciones Usted podría recibir alguna de las siguientes distribuciones durante el año. H&r block free tax return Dividendos con intereses exentos. H&r block free tax return   Los dividendos que producen intereses exentos de impuestos que recibe de un fondo mutuo u otra compañía de inversiones reglamentada, incluyendo aquellos recibidos de un fondo calificado en cualquier año tributario que comience después del 22 de diciembre del 2010, no se incluyen en los ingresos sujetos a impuestos. H&r block free tax return Los dividendos con intereses exentos deben aparecer en el recuadro 10 del Formulario 1099-DIV. H&r block free tax return Requisito de declarar ciertos datos. H&r block free tax return   Aunque los dividendos con intereses exentos no están sujetos a impuestos, tiene que informar de los mismos en la declaración de impuestos si tiene que presentar una declaración. H&r block free tax return Esto es un requisito de declarar datos y no hace que dichos dividendos con intereses exentos se cambien a ingresos sujetos a impuestos. H&r block free tax return Tratamiento del impuesto mínimo alternativo. H&r block free tax return   Los dividendos que produzcan intereses exentos y que se hayan pagado de bonos de actividad privada especificados podrían estar sujetos al impuesto mínimo alternativo. H&r block free tax return Vea el tema titulado Impuesto Mínimo Alternativo (AMT) en el capítulo 30 para más información. H&r block free tax return Dividendos de pólizas de seguro. H&r block free tax return    Los dividendos de pólizas de seguro que el asegurador retiene y utiliza para pagar sus primas no están sujetos a impuestos. H&r block free tax return No obstante, tiene que declarar como ingreso de intereses sujeto a impuestos los intereses que se paguen o acrediten sobre los dividendos dejados con la compañía de seguros. H&r block free tax return    Si los dividendos de un contrato de seguros (que no sea un contrato de seguro dotal modificado) le son distribuidos a usted, éstos son una devolución parcial de las primas que usted pagó. H&r block free tax return No los incluya en su ingreso bruto hasta que sean mayores al total de todas las primas netas que usted pagó por el contrato. H&r block free tax return Declare todas las distribuciones sujetas a impuestos de pólizas de seguro en la línea 21 del Formulario 1040. H&r block free tax return Dividendos del seguro para veteranos. H&r block free tax return   Los dividendos que reciba de pólizas de seguro para veteranos no están sujetos a impuestos. H&r block free tax return Además, los intereses de dividendos dejados en depósito con el Department of Veterans Affairs (Departamento de Asuntos de Veteranos) no están sujetos a impuestos. H&r block free tax return Dividendos de patrocinio. H&r block free tax return   Generalmente, los dividendos de patrocinio que reciba en dinero de una organización cooperativa están incluidos en sus ingresos. H&r block free tax return   No incluya en sus ingresos dividendos de patrocinio que reciba por: Propiedad comprada para uso personal o Bienes de capital o propiedad depreciable comprados para uso en su negocio. H&r block free tax return Pero tiene que reducir la base (costo) de los artículos comprados. H&r block free tax return Si el dividendo es mayor a la base ajustada de los bienes, deberá declarar el exceso como ingreso. H&r block free tax return   Estas reglas son las mismas independientemente de si la cooperativa que paga el dividendo es una cooperativa sujeta a impuestos o no. H&r block free tax return Dividendos del Alaska Permanent Fund (Fondo Permanente de Alaska). H&r block free tax return    No declare las cantidades que reciba del Alaska Permanent Fund como dividendos. H&r block free tax return Declare estas cantidades en la línea 21 del Formulario 1040, la línea 13 del Formulario 1040A o la línea 3 del Formulario 1040EZ. H&r block free tax return Cómo Declarar el Ingreso de Dividendos Por lo general, se puede utilizar el Formulario 1040 o el Formulario 1040A para declarar el ingreso de dividendos. H&r block free tax return Declare el total de sus dividendos ordinarios en la línea 9a del Formulario 1040 o del Formulario 1040A. H&r block free tax return Declare los dividendos calificados en la línea 9b del Formulario 1040 o el Formulario 1040A. H&r block free tax return Si recibe una distribución de ganancias de capital, quizás pueda utilizar el Formulario 1040A o quizás tenga que utilizar el Formulario 1040. H&r block free tax return Vea Excepciones a la presentación del Formulario 8949 y el Anexo D (Formulario 1040) , en el capítulo 16. H&r block free tax return Si recibe distribuciones que no son dividendos pero que deben declararse como ganancias de capital, tendrá que utilizar el Formulario 1040. H&r block free tax return No puede utilizar el Formulario 1040EZ si recibe ingresos de dividendos. H&r block free tax return Formulario 1099-DIV. H&r block free tax return   Si era dueño de acciones por las cuales ha recibido $10 o más por concepto de dividendos y otras distribuciones, deberá recibir un Formulario 1099-DIV. H&r block free tax return Aun si no recibe un Formulario 1099-DIV, tiene que declarar todo su ingreso de dividendos. H&r block free tax return   Vea el Formulario 1099-DIV para más información sobre cómo declarar el ingreso de dividendos. H&r block free tax return Formulario 1040A o 1040. H&r block free tax return    Tiene que completar la Parte II del Anexo B (Formulario 1040A o 1040) y adjuntarlo al Formulario 1040A o 1040, si: Sus dividendos ordinarios (el recuadro 1a del Formulario 1099-DIV) son mayores de $1,500 o Recibió, como nominatario, dividendos que en realidad le pertenecen a otra persona. H&r block free tax return Si sus dividendos ordinarios son mayores de $1,500, usted también tiene que completar la Parte III del Anexo B (Formulario 1040 o 1040A). H&r block free tax return   Escriba en la línea 5, Parte II del Anexo B, el nombre de cada pagador y los dividendos ordinarios que usted recibió. H&r block free tax return Si sus valores bursátiles están a nombre de una empresa de corretaje (conocido en inglés como “ street name ”), escriba el nombre de la empresa de corretaje mostrado en el Formulario 1099-DIV como pagador. H&r block free tax return Si sus acciones están a nombre de un nominatario que es el titular registrado, y el nominatario es el que le acredita o paga a usted los dividendos de las acciones, escriba el nombre del nominatario y los dividendos que recibió o que le fueron acreditados. H&r block free tax return   Anote en la línea 6 el total de las cantidades que aparecen en la línea 5. H&r block free tax return Anote también este total en la línea 9a del Formulario 1040 o del Formulario 1040A. H&r block free tax return Dividendos calificados. H&r block free tax return   Declare los dividendos calificados (el recuadro 1b del Formulario 1099-DIV) en la línea 9b del Formulario 1040 o del Formulario 1040A. H&r block free tax return La cantidad del recuadro 1b ya se incluye en el recuadro 1a. H&r block free tax return No añada ni reste la cantidad del recuadro 1b a la cantidad del recuadro 1a. H&r block free tax return    No incluya ninguno de los siguientes en la línea 9b: Dividendos calificados que recibió como nominatario. H&r block free tax return Vea el tema titulado Nominees (Nominatarios), bajo How to Report Dividend Income (Cómo se declara el ingreso de dividendos), en el capítulo 1 de la Publicación 550, en inglés. H&r block free tax return Dividendos de acciones por las cuales usted no cumplió el período de tenencia. H&r block free tax return Vea el tema titulado Período de tenencia , anteriormente, bajo la sección titulada Dividendos Calificados. H&r block free tax return Dividendos sobre todas las acciones hasta el punto que usted esté obligado (ya sea por venta al descubierto o de otra manera) a hacer pagos afines por posiciones en bienes sustancialmente similares o relacionados. H&r block free tax return Pagos en lugar de dividendos, pero sólo si usted sabe o tiene razón de saber que los pagos no son dividendos calificados. H&r block free tax return Pagos mostrados en el recuadro 1b del Formulario 1099-DIV de una sociedad anónima extranjera hasta el punto donde sepa o tenga razón de saber que los pagos no son dividendos calificados. H&r block free tax return   Si tiene dividendos calificados, tiene que calcular el impuesto completando la hoja Qualified Dividends and Capital Gain Tax Worksheet (Hoja de trabajo de impuestos sobre dividendos calificados y ganancias de capital) de las Instrucciones para el Formulario 1040 o el Formulario 1040A, o Schedule D Tax Worksheet (Hoja de trabajo de impuestos del Anexo D) de las Instrucciones del Anexo D del Formulario 1040, en inglés, según corresponda. H&r block free tax return Anote los dividendos calificados en la línea 2 de la hoja de trabajo. H&r block free tax return Deducción de los intereses de inversiones. H&r block free tax return   Si declara una deducción por intereses de inversiones, quizás tenga que reducir sus dividendos que cumplan los requisitos de la tasa impositiva del 0%, 15% o 20%. H&r block free tax return Redúzcala por la cantidad de dividendos calificados que elija incluir en el ingreso de inversiones al calcular el límite de la deducción de los intereses de inversiones. H&r block free tax return Esto se hace en la hoja Qualified Dividends and Capital Gain Tax Worksheet (Hoja de trabajo de impuestos sobre dividendos calificados y ganancias de capital) o en la hoja Schedule D Tax Worksheet (Hoja de trabajo de impuestos del Anexo D). H&r block free tax return Para más información sobre el límite de intereses de inversión, vea Gastos de inversión en el capítulo 23. H&r block free tax return Gastos relacionados con el ingreso de dividendos. H&r block free tax return   Es posible que pueda deducir los gastos relacionados con el ingreso de dividendos si detalla sus deducciones en el Anexo A (Formulario 1040). H&r block free tax return Vea el capítulo 28 para obtener información general sobre la deducción de gastos relativos a la producción de ingresos. H&r block free tax return Más información. H&r block free tax return    Para más información sobre cómo declarar el ingreso de dividendos, vea el capítulo 1 de la Publicación 550, en inglés, o las instrucciones para el formulario que tiene que presentar. H&r block free tax return Prev  Up  Next   Home   More Online Publications