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How To Refile Taxes For 2012

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How To Refile Taxes For 2012

How to refile taxes for 2012 1. How to refile taxes for 2012   Investment Income Table of Contents Topics - This chapter discusses: Useful Items - You may want to see: General InformationSSN for joint account. How to refile taxes for 2012 Custodian account for your child. How to refile taxes for 2012 Penalty for failure to supply SSN. How to refile taxes for 2012 Certification. How to refile taxes for 2012 Underreported interest and dividends. How to refile taxes for 2012 How to stop backup withholding due to underreporting. How to refile taxes for 2012 How to stop backup withholding due to an incorrect identification number. How to refile taxes for 2012 Reporting backup withholding. How to refile taxes for 2012 Nonresident aliens. How to refile taxes for 2012 Penalties. How to refile taxes for 2012 Savings account with parent as trustee. How to refile taxes for 2012 Interest IncomeInterest not reported on Form 1099-INT. How to refile taxes for 2012 Nominees. How to refile taxes for 2012 Incorrect amount. How to refile taxes for 2012 Information reporting requirement. How to refile taxes for 2012 Taxable Interest — General Below-Market Loans U. How to refile taxes for 2012 S. How to refile taxes for 2012 Savings Bonds U. How to refile taxes for 2012 S. How to refile taxes for 2012 Treasury Bills, Notes, and Bonds Bonds Sold Between Interest Dates Insurance State or Local Government Obligations Discount on Debt InstrumentsOriginal Issue Discount (OID) Market Discount Bonds Discount on Short-Term Obligations Election To Report All Interest as OID When To Report Interest IncomeConstructive receipt. How to refile taxes for 2012 How To Report Interest IncomeSchedule B (Form 1040A or 1040). How to refile taxes for 2012 Worksheet for savings bonds distributed from a retirement or profit-sharing plan. How to refile taxes for 2012 File Form 1099-INT with the IRS. How to refile taxes for 2012 Dividends and Other DistributionsDividends not reported on Form 1099-DIV. How to refile taxes for 2012 Nominees. How to refile taxes for 2012 Ordinary Dividends Capital Gain Distributions Nondividend Distributions Liquidating Distributions Distributions of Stock and Stock Rights Other Distributions How To Report Dividend IncomeElection. How to refile taxes for 2012 Independent contractor. How to refile taxes for 2012 Investment interest deducted. How to refile taxes for 2012 Exception 1. How to refile taxes for 2012 Exception 2. How to refile taxes for 2012 Undistributed capital gains. How to refile taxes for 2012 File Form 1099-DIV with the IRS. How to refile taxes for 2012 Stripped Preferred Stock REMICs, FASITs, and Other CDOsREMICs Collateralized Debt Obligations (CDOs) FASITs S CorporationsLimit on losses and deductions. How to refile taxes for 2012 Passive activity losses. How to refile taxes for 2012 Form 8582. How to refile taxes for 2012 Investment ClubsInvestments in name of member. How to refile taxes for 2012 Tax Treatment of the Club Topics - This chapter discusses: Interest Income , Discount on Debt Instruments , When To Report Interest Income , How To Report Interest Income , Dividends and Other Distributions , How To Report Dividend Income , Stripped Preferred Stock , Real estate mortgage investment conduits (REMICs), financial asset securitization investment trusts (FASITs), and other collateralized debt obligations (CDOs) , S Corporations , and Investment Clubs . How to refile taxes for 2012 Useful Items - You may want to see: Publication 525 Taxable and Nontaxable Income 537 Installment Sales 590 Individual Retirement Arrangements (IRAs) 925 Passive Activity and At-Risk Rules 1212 Guide to Original Issue Discount (OID) Instruments Form (and Instructions) Schedule B (Form 1040A or 1040) Interest and Ordinary Dividends Schedule D (Form 1040) Capital Gains and Losses 1040 U. How to refile taxes for 2012 S. How to refile taxes for 2012 Individual Income Tax Return 1040A U. How to refile taxes for 2012 S. How to refile taxes for 2012 Individual Income Tax Return 1040EZ Income Tax Return for Single and Joint Filers With No Dependents 1099 General Instructions for Certain Information Returns 2439 Notice to Shareholder of Undistributed Long-Term Capital Gains 3115 Application for Change in Accounting Method 6251 Alternative Minimum Tax — Individuals 8582 Passive Activity Loss Limitations 8615 Tax for Certain Children Who Have Unearned Income 8814 Parents' Election To Report Child's Interest and Dividends 8815 Exclusion of Interest From Series EE and I U. How to refile taxes for 2012 S. How to refile taxes for 2012 Savings Bonds Issued After 1989 8818 Optional Form To Record Redemption of Series EE and I U. How to refile taxes for 2012 S. How to refile taxes for 2012 Savings Bonds Issued After 1989 8824 Like-Kind Exchanges 8949 Sales and Other Dispositions of Capital Assets 8960 Net Investment Income Tax—Individuals, Estates, and Trusts See chapter 5, How To Get Tax Help , for information about getting these publications and forms. How to refile taxes for 2012 General Information A few items of general interest are covered here. How to refile taxes for 2012 Recordkeeping. How to refile taxes for 2012 You should keep a list showing sources and investment income amounts you receive during the year. How to refile taxes for 2012 Also keep the forms you receive showing your investment income (Forms 1099-INT, Interest Income, and 1099-DIV, Dividends and Distributions, for example) as an important part of your records. How to refile taxes for 2012 Net investment income tax (NIIT). How to refile taxes for 2012   Beginning in 2013, you may be subject to the NIIT. How to refile taxes for 2012 The NIIT is a 3. How to refile taxes for 2012 8% tax on the lesser of your net investment income or the amount of your modified adjusted gross income (MAGI) that is over a threshold amount based on your filing status. How to refile taxes for 2012    Filing Status Threshold Amount Married filing jointly $250,000 Married filing separately $125,000 Single $200,000 Head of household (with qualifying person) $200,000 Qualifying Widow(er) with dependent child $250,000    For more information, see Form 8960 and Instructions for Form 8960. How to refile taxes for 2012 Tax on unearned income of certain children. How to refile taxes for 2012   Part of a child's 2013 unearned income may be taxed at the parent's tax rate. How to refile taxes for 2012 This may happen if all of the following are true. How to refile taxes for 2012 The child had more than $2,000 of unearned income. How to refile taxes for 2012 The child is required to file a tax return. How to refile taxes for 2012 The child was: Under age 18 at the end of 2013, Age 18 at the end of 2013 and did not have earned income that was more than half of the child's support, or A full-time student over age 18 and under age 24 at the end of 2013 and did not have earned income that was more than half of the child's support. How to refile taxes for 2012 At least one of the child's parents was alive at the end of 2013. How to refile taxes for 2012 The child does not file a joint return for 2013. How to refile taxes for 2012 A child born on January 1, 1996, is considered to be age 18 at the end of 2013; a child born on January 1, 1995, is considered to be age 19 at the end of 2013; a child born on January 1, 1990, is considered to be age 24 at the end of 2013. How to refile taxes for 2012   If all of these statements are true, Form 8615 must be completed and attached to the child's tax return. How to refile taxes for 2012 If any of these statements is not true, Form 8615 is not required and the child's income is taxed at his or her own tax rate. How to refile taxes for 2012    However, the parent can choose to include the child's interest and dividends on the parent's return if certain requirements are met. How to refile taxes for 2012 Use Form 8814 for this purpose. How to refile taxes for 2012   For more information about the tax on unearned income of children and the parents' election, see Publication 929, Tax Rules for Children and Dependents. How to refile taxes for 2012 Beneficiary of an estate or trust. How to refile taxes for 2012   Interest, dividends, and other investment income you receive as a beneficiary of an estate or trust is generally taxable income. How to refile taxes for 2012 You should receive a Schedule K-1 (Form 1041), Beneficiary's Share of Income, Deductions, Credits, etc. How to refile taxes for 2012 , from the fiduciary. How to refile taxes for 2012 Your copy of Schedule K-1 (Form 1041) and its instructions will tell you where to report the income on your Form 1040. How to refile taxes for 2012 Social security number (SSN). How to refile taxes for 2012   You must give your name and SSN or individual tax identification number (ITIN) to any person required by federal tax law to make a return, statement, or other document that relates to you. How to refile taxes for 2012 This includes payers of interest and dividends. How to refile taxes for 2012 If you do not give your SSN or ITIN to the payer of interest, you may have to pay a penalty. How to refile taxes for 2012 SSN for joint account. How to refile taxes for 2012   If the funds in a joint account belong to one person, list that person's name first on the account and give that person's SSN to the payer. How to refile taxes for 2012 (For information on who owns the funds in a joint account, see Joint accounts , later. How to refile taxes for 2012 ) If the joint account contains combined funds, give the SSN of the person whose name is listed first on the account. How to refile taxes for 2012 This is because only one name and SSN can be shown on Form 1099. How to refile taxes for 2012   These rules apply both to joint ownership by a married couple and to joint ownership by other individuals. How to refile taxes for 2012 For example, if you open a joint savings account with your child using funds belonging to the child, list the child's name first on the account and give the child's SSN. How to refile taxes for 2012 Custodian account for your child. How to refile taxes for 2012   If your child is the actual owner of an account that is recorded in your name as custodian for the child, give the child's SSN to the payer. How to refile taxes for 2012 For example, you must give your child's SSN to the payer of dividends on stock owned by your child, even though the dividends are paid to you as custodian. How to refile taxes for 2012 Penalty for failure to supply SSN. How to refile taxes for 2012   You will be subject to a penalty if, when required, you fail to: Include your SSN on any return, statement, or other document, Give your SSN to another person who must include it on any return, statement, or other document, or Include the SSN of another person on any return, statement, or other document. How to refile taxes for 2012 The penalty is $50 for each failure up to a maximum penalty of $100,000 for any calendar year. How to refile taxes for 2012   You will not be subject to this penalty if you can show that your failure to provide the SSN was due to reasonable cause and not to willful neglect. How to refile taxes for 2012   If you fail to supply an SSN, you may also be subject to backup withholding. How to refile taxes for 2012 Backup withholding. How to refile taxes for 2012   Your investment income is generally not subject to regular withholding. How to refile taxes for 2012 However, it may be subject to backup withholding to ensure that income tax is collected on the income. How to refile taxes for 2012 Under backup withholding, the bank, broker, or other payer of interest, original issue discount (OID), dividends, cash patronage dividends, or royalties must withhold, as income tax, on the amount you are paid, applying the appropriate withholding rate. How to refile taxes for 2012   Backup withholding applies if: You do not give the payer your identification number (either a social security number or an employer identification number) in the required manner, The IRS notifies the payer that you gave an incorrect identification number, The IRS notifies the payer that you are subject to backup withholding on interest or dividends because you have underreported interest or dividends on your income tax return, or You are required, but fail, to certify that you are not subject to backup withholding for the reason described in (3). How to refile taxes for 2012 Certification. How to refile taxes for 2012   For new accounts paying interest or dividends, you must certify under penalties of perjury that your SSN is correct and that you are not subject to backup withholding. How to refile taxes for 2012 Your payer will give you a Form W-9, Request for Taxpayer Identification Number and Certification, or similar form, to make this certification. How to refile taxes for 2012 If you fail to make this certification, backup withholding may begin immediately on your new account or investment. How to refile taxes for 2012 Underreported interest and dividends. How to refile taxes for 2012   You will be considered to have underreported your interest and dividends if the IRS has determined for a tax year that: You failed to include any part of a reportable interest or dividend payment required to be shown on your return, or You were required to file a return and to include a reportable interest or dividend payment on that return, but you failed to file the return. How to refile taxes for 2012 How to stop backup withholding due to underreporting. How to refile taxes for 2012   If you have been notified that you underreported interest or dividends, you can request a determination from the IRS to prevent backup withholding from starting or to stop backup withholding once it has begun. How to refile taxes for 2012 You must show that at least one of the following situations applies. How to refile taxes for 2012 No underreporting occurred. How to refile taxes for 2012 You have a bona fide dispute with the IRS about whether underreporting occurred. How to refile taxes for 2012 Backup withholding will cause or is causing an undue hardship, and it is unlikely that you will underreport interest and dividends in the future. How to refile taxes for 2012 You have corrected the underreporting by filing a return if you did not previously file one and by paying all taxes, penalties, and interest due for any underreported interest or dividend payments. How to refile taxes for 2012   If the IRS determines that backup withholding should stop, it will provide you with a certification and will notify the payers who were sent notices earlier. How to refile taxes for 2012 How to stop backup withholding due to an incorrect identification number. How to refile taxes for 2012   If you have been notified by a payer that you are subject to backup withholding because you have provided an incorrect SSN or employer identification number, you can stop it by following the instructions the payer gives you. How to refile taxes for 2012 Reporting backup withholding. How to refile taxes for 2012   If backup withholding is deducted from your interest or dividend income or other reportable payment, the bank or other business must give you an information return for the year (for example, a Form 1099-INT) indicating the amount withheld. How to refile taxes for 2012 The information return will show any backup withholding as “Federal income tax withheld. How to refile taxes for 2012 ” Nonresident aliens. How to refile taxes for 2012    Generally, payments made to nonresident aliens are not subject to backup withholding. How to refile taxes for 2012 You can use Form W-8BEN, Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding, to certify exempt status. How to refile taxes for 2012 However, this does not exempt you from the 30% (or lower treaty) withholding rate that may apply to your investment income. How to refile taxes for 2012 For information on the 30% rate, see Publication 519, U. How to refile taxes for 2012 S. How to refile taxes for 2012 Tax Guide for Aliens. How to refile taxes for 2012 Penalties. How to refile taxes for 2012   There are civil and criminal penalties for giving false information to avoid backup withholding. How to refile taxes for 2012 The civil penalty is $500. How to refile taxes for 2012 The criminal penalty, upon conviction, is a fine of up to $1,000, or imprisonment of up to 1 year, or both. How to refile taxes for 2012 Where to report investment income. How to refile taxes for 2012   Table 1-1 gives an overview of the forms and schedules to use to report some common types of investment income. How to refile taxes for 2012 But see the rest of this publication for detailed information about reporting investment income. How to refile taxes for 2012 Joint accounts. How to refile taxes for 2012   If two or more persons hold property (such as a savings account, bond, or stock) as joint tenants, tenants by the entirety, or tenants in common, each person's share of any interest or dividends from the property is determined by local law. How to refile taxes for 2012 Community property states. How to refile taxes for 2012   If you are married and receive a distribution that is community income, one-half of the distribution is generally considered to be received by each spouse. How to refile taxes for 2012 If you file separate returns, you must each report one-half of any taxable distribution. How to refile taxes for 2012 See Publication 555, Community Property, for more information on community income. How to refile taxes for 2012   If the distribution is not considered community property and you and your spouse file separate returns, each of you must report your separate taxable distributions. How to refile taxes for 2012 Example. How to refile taxes for 2012 You and your spouse have a joint money market account. How to refile taxes for 2012 Under state law, half the income from the account belongs to you, and half belongs to your spouse. How to refile taxes for 2012 If you file separate returns, you each report half the income. How to refile taxes for 2012 Income from property given to a child. How to refile taxes for 2012   Property you give as a parent to your child under the Model Gifts of Securities to Minors Act, the Uniform Gifts to Minors Act, or any similar law becomes the child's property. How to refile taxes for 2012   Income from the property is taxable to the child, except that any part used to satisfy a legal obligation to support the child is taxable to the parent or guardian having that legal obligation. How to refile taxes for 2012 Savings account with parent as trustee. How to refile taxes for 2012   Interest income from a savings account opened for a minor child, but placed in the name and subject to the order of the parents as trustees, is taxable to the child if, under the law of the state in which the child resides, both of the following are true. How to refile taxes for 2012 The savings account legally belongs to the child. How to refile taxes for 2012 The parents are not legally permitted to use any of the funds to support the child. How to refile taxes for 2012 Table 1-1. How to refile taxes for 2012 Where To Report Common Types of Investment Income (For detailed information about reporting investment income, see the rest of this publication, especially How To Report Interest Income and How To Report Dividend Income in chapter 1. How to refile taxes for 2012 ) Type of Income If you file Form 1040, report on . How to refile taxes for 2012 . How to refile taxes for 2012 . How to refile taxes for 2012 If you can file Form 1040A, report on . How to refile taxes for 2012 . How to refile taxes for 2012 . How to refile taxes for 2012 If you can file Form 1040EZ, report on . How to refile taxes for 2012 . How to refile taxes for 2012 . How to refile taxes for 2012 Tax-exempt interest (Form 1099-INT, box 8) Line 8b Line 8b Space to the left of line 2 (enter “TEI” and the amount) Taxable interest that totals $1,500 or less Line 8a (You may need to file Schedule B as well. How to refile taxes for 2012 ) Line 8a (You may need to file Schedule B as well. How to refile taxes for 2012 ) Line 2 Taxable interest that totals more than $1,500 Line 8a; also use Schedule B, line 1 Line 8a; also use Schedule B, line 1   Savings bond interest you will exclude because of higher education expenses Schedule B; also use Form 8815 Schedule B; also use Form 8815   Ordinary dividends that total $1,500 or less Line 9a (You may need to file Schedule B as well. How to refile taxes for 2012 ) Line 9a (You may need to file Schedule B as well. How to refile taxes for 2012 )   Ordinary dividends that total more than $1,500 Line 9a; also use Schedule B, line 5 Line 9a; also use Schedule B, line 5   Qualified dividends (if you do not have to file Schedule D) Line 9b; also use the Qualified Dividends and Capital Gain Tax Worksheet, line 2 Line 9b; also use the Qualified Dividends and Capital Gain Tax Worksheet, line 2   Qualified dividends (if you have to file Schedule D) Line 9b; also use the Qualified Dividends and Capital Gain Tax Worksheet or the Schedule D Tax Worksheet, line 2 You cannot use Form 1040A    You cannot use Form 1040EZ Capital gain distributions (if you do not have to file Schedule D) Line 13; also use the Qualified Dividends and Capital Gain Tax Worksheet, line 3 Line 10; also use the Qualified Dividends and Capital Gain Tax Worksheet, line 3   Capital gain distributions (if you have to file Schedule D) Schedule D, line 13; also use the Qualified Dividends and Capital Gain Tax Worksheet or the Schedule D Tax Worksheet     Section 1250, 1202, or collectibles gain (Form 1099-DIV, box 2b, 2c, or 2d) Form 8949 and Schedule D     Nondividend distributions (Form 1099-DIV, box 3) Generally not reported*     Undistributed capital gains (Form 2439, boxes 1a - 1d) Schedule D     Gain or loss from sales of stocks or bonds Line 13; also use Form 8949, Schedule D, and the Qualified Dividends and Capital Gain Tax Worksheet or the Schedule D Tax Worksheet You cannot use Form 1040A   Gain or loss from exchanges of like-kind investment property Line 13; also use Schedule D, Form 8824, and the Qualified Dividends and Capital Gain Tax Worksheet or the Schedule D Tax Worksheet     *Report any amounts in excess of your basis in your mutual fund shares on Form 8949. How to refile taxes for 2012 Use Part II if you held the shares more than 1 year. How to refile taxes for 2012 Use Part I if you held your mutual fund shares 1 year or less. How to refile taxes for 2012 For details on Form 8949, see Reporting Capital Gains and Losses in chapter 4, and the Instructions for Form 8949. How to refile taxes for 2012 Accuracy-related penalty. How to refile taxes for 2012   An accuracy-related penalty of 20% can be charged for underpayments of tax due to negligence or disregard of rules or regulations or substantial understatement of tax. How to refile taxes for 2012 For information on the penalty and any interest that applies, see Penalties in chapter 2. How to refile taxes for 2012 Interest Income This section discusses the tax treatment of different types of interest income. How to refile taxes for 2012 In general, any interest that you receive or that is credited to your account and can be withdrawn is taxable income. How to refile taxes for 2012 (It does not have to be entered in your passbook. How to refile taxes for 2012 ) Exceptions to this rule are discussed later. How to refile taxes for 2012 Form 1099-INT. How to refile taxes for 2012   Interest income is generally reported to you on Form 1099-INT, or a similar statement, by banks, savings and loans, and other payers of interest. How to refile taxes for 2012 This form shows you the interest you received during the year. How to refile taxes for 2012 Keep this form for your records. How to refile taxes for 2012 You do not have to attach it to your tax return. How to refile taxes for 2012   Report on your tax return the total interest income you receive for the tax year. How to refile taxes for 2012 Interest not reported on Form 1099-INT. How to refile taxes for 2012   Even if you do not receive Form 1099-INT, you must still report all of your interest income. How to refile taxes for 2012 For example, you may receive distributive shares of interest from partnerships or S corporations. How to refile taxes for 2012 This interest is reported to you on Schedule K-1 (Form 1065), Partner's Share of Income, Deductions, Credits, etc. How to refile taxes for 2012 , and Schedule K-1 (Form 1120S), Shareholder's Share of Income, Deductions, Credits, etc. How to refile taxes for 2012 Nominees. How to refile taxes for 2012   Generally, if someone receives interest as a nominee for you, that person must give you a Form 1099-INT showing the interest received on your behalf. How to refile taxes for 2012   If you receive a Form 1099-INT that includes amounts belonging to another person, see the discussion on Nominee distributions , later, under How To Report Interest Income. How to refile taxes for 2012 Incorrect amount. How to refile taxes for 2012   If you receive a Form 1099-INT that shows an incorrect amount (or other incorrect information), you should ask the issuer for a corrected form. How to refile taxes for 2012 The new Form 1099-INT you receive will be marked “Corrected. How to refile taxes for 2012 ” Form 1099-OID. How to refile taxes for 2012   Reportable interest income also may be shown on Form 1099-OID, Original Issue Discount. How to refile taxes for 2012 For more information about amounts shown on this form, see Original Issue Discount (OID) , later in this chapter. How to refile taxes for 2012 Exempt-interest dividends. How to refile taxes for 2012   Exempt-interest dividends you receive from a mutual fund or other regulated investment company, including those received from a qualified fund of funds in any tax year beginning after December 22, 2010, are not included in your taxable income. How to refile taxes for 2012 (However, see Information reporting requirement , next. How to refile taxes for 2012 ) Exempt-interest dividends should be shown in box 10 of Form 1099-DIV. How to refile taxes for 2012 You do not reduce your basis for distributions that are exempt-interest dividends. How to refile taxes for 2012 Information reporting requirement. How to refile taxes for 2012   Although exempt-interest dividends are not taxable, you must show them on your tax return if you have to file. How to refile taxes for 2012 This is an information reporting requirement and does not change the exempt-interest dividends into taxable income. How to refile taxes for 2012 See How To Report Interest Income , later. How to refile taxes for 2012 Note. How to refile taxes for 2012 Exempt-interest dividends paid from specified private activity bonds may be subject to the alternative minimum tax. How to refile taxes for 2012 The exempt-interest dividends subject to the alternative minimum tax are shown in box 11 of Form 1099-DIV. How to refile taxes for 2012 See Form 6251 and its instructions for more information about this tax. How to refile taxes for 2012 Private activity bonds are discussed later under State or Local Government Obligations. How to refile taxes for 2012 Interest on VA dividends. How to refile taxes for 2012   Interest on insurance dividends left on deposit with the Department of Veterans Affairs (VA) is not taxable. How to refile taxes for 2012 This includes interest paid on dividends on converted United States Government Life Insurance policies and on National Service Life Insurance policies. How to refile taxes for 2012 Individual retirement arrangements (IRAs). How to refile taxes for 2012   Interest on a Roth IRA generally is not taxable. How to refile taxes for 2012 Interest on a traditional IRA is tax deferred. How to refile taxes for 2012 You generally do not include it in your income until you make withdrawals from the IRA. How to refile taxes for 2012 See Publication 590 for more information. How to refile taxes for 2012 Taxable Interest — General Taxable interest includes interest you receive from bank accounts, loans you make to others, and other sources. How to refile taxes for 2012 The following are some sources of taxable interest. How to refile taxes for 2012 Dividends that are actually interest. How to refile taxes for 2012   Certain distributions commonly called dividends are actually interest. How to refile taxes for 2012 You must report as interest so-called “dividends” on deposits or on share accounts in: Cooperative banks, Credit unions, Domestic building and loan associations, Domestic savings and loan associations, Federal savings and loan associations, and Mutual savings banks. How to refile taxes for 2012  The “dividends” will be shown as interest income on Form 1099-INT. How to refile taxes for 2012 Money market funds. How to refile taxes for 2012   Money market funds are offered by nonbank financial institutions such as mutual funds and stock brokerage houses, and pay dividends. How to refile taxes for 2012 Generally, amounts you receive from money market funds should be reported as dividends, not as interest. How to refile taxes for 2012 Certificates of deposit and other deferred interest accounts. How to refile taxes for 2012   If you open any of these accounts, interest may be paid at fixed intervals of 1 year or less during the term of the account. How to refile taxes for 2012 You generally must include this interest in your income when you actually receive it or are entitled to receive it without paying a substantial penalty. How to refile taxes for 2012 The same is true for accounts that mature in 1 year or less and pay interest in a single payment at maturity. How to refile taxes for 2012 If interest is deferred for more than 1 year, see Original Issue Discount (OID) , later. How to refile taxes for 2012 Interest subject to penalty for early withdrawal. How to refile taxes for 2012   If you withdraw funds from a deferred interest account before maturity, you may have to pay a penalty. How to refile taxes for 2012 You must report the total amount of interest paid or credited to your account during the year, without subtracting the penalty. How to refile taxes for 2012 See Penalty on early withdrawal of savings under How To Report Interest Income, later, for more information on how to report the interest and deduct the penalty. How to refile taxes for 2012 Money borrowed to invest in certificate of deposit. How to refile taxes for 2012   The interest you pay on money borrowed from a bank or savings institution to meet the minimum deposit required for a certificate of deposit from the institution and the interest you earn on the certificate are two separate items. How to refile taxes for 2012 You must report the total interest you earn on the certificate in your income. How to refile taxes for 2012 If you itemize deductions, you can deduct the interest you pay as investment interest, up to the amount of your net investment income. How to refile taxes for 2012 See Interest Expenses in chapter 3. How to refile taxes for 2012 Example. How to refile taxes for 2012 You deposited $5,000 with a bank and borrowed $5,000 from the bank to make up the $10,000 minimum deposit required to buy a 6-month certificate of deposit. How to refile taxes for 2012 The certificate earned $575 at maturity in 2013, but you received only $265, which represented the $575 you earned minus $310 interest charged on your $5,000 loan. How to refile taxes for 2012 The bank gives you a Form 1099-INT for 2013 showing the $575 interest you earned. How to refile taxes for 2012 The bank also gives you a statement showing that you paid $310 interest for 2013. How to refile taxes for 2012 You must include the $575 in your income. How to refile taxes for 2012 If you itemize your deductions on Schedule A (Form 1040), Itemized Deductions, you can deduct $310, subject to the net investment income limit. How to refile taxes for 2012 Gift for opening account. How to refile taxes for 2012   If you receive noncash gifts or services for making deposits or for opening an account in a savings institution, you may have to report the value as interest. How to refile taxes for 2012   For deposits of less than $5,000, gifts or services valued at more than $10 must be reported as interest. How to refile taxes for 2012 For deposits of $5,000 or more, gifts or services valued at more than $20 must be reported as interest. How to refile taxes for 2012 The value is determined by the cost to the financial institution. How to refile taxes for 2012 Example. How to refile taxes for 2012 You open a savings account at your local bank and deposit $800. How to refile taxes for 2012 The account earns $20 interest. How to refile taxes for 2012 You also receive a $15 calculator. How to refile taxes for 2012 If no other interest is credited to your account during the year, the Form 1099-INT you receive will show $35 interest for the year. How to refile taxes for 2012 You must report $35 interest income on your tax return. How to refile taxes for 2012 Interest on insurance dividends. How to refile taxes for 2012   Interest on insurance dividends left on deposit with an insurance company that can be withdrawn annually is taxable to you in the year it is credited to your account. How to refile taxes for 2012 However, if you can withdraw it only on the anniversary date of the policy (or other specified date), the interest is taxable in the year that date occurs. How to refile taxes for 2012 Prepaid insurance premiums. How to refile taxes for 2012   Any increase in the value of prepaid insurance premiums, advance premiums, or premium deposit funds is interest if it is applied to the payment of premiums due on insurance policies or made available for you to withdraw. How to refile taxes for 2012 U. How to refile taxes for 2012 S. How to refile taxes for 2012 obligations. How to refile taxes for 2012   Interest on U. How to refile taxes for 2012 S. How to refile taxes for 2012 obligations, such as U. How to refile taxes for 2012 S. How to refile taxes for 2012 Treasury bills, notes, and bonds, issued by any agency or instrumentality of the United States is taxable for federal income tax purposes. How to refile taxes for 2012 Interest on tax refunds. How to refile taxes for 2012   Interest you receive on tax refunds is taxable income. How to refile taxes for 2012 Interest on condemnation award. How to refile taxes for 2012   If the condemning authority pays you interest to compensate you for a delay in payment of an award, the interest is taxable. How to refile taxes for 2012 Installment sale payments. How to refile taxes for 2012   If a contract for the sale or exchange of property provides for deferred payments, it also usually provides for interest payable with the deferred payments. How to refile taxes for 2012 That interest is taxable when you receive it. How to refile taxes for 2012 If little or no interest is provided for in a deferred payment contract, part of each payment may be treated as interest. How to refile taxes for 2012 See Unstated Interest and Original Issue Discount (OID) in Publication 537. How to refile taxes for 2012 Interest on annuity contract. How to refile taxes for 2012   Accumulated interest on an annuity contract you sell before its maturity date is taxable. How to refile taxes for 2012 Usurious interest. How to refile taxes for 2012   Usurious interest is interest charged at an illegal rate. How to refile taxes for 2012 This is taxable as interest unless state law automatically changes it to a payment on the principal. How to refile taxes for 2012 Interest income on frozen deposits. How to refile taxes for 2012   Exclude from your gross income interest on frozen deposits. How to refile taxes for 2012 A deposit is frozen if, at the end of the year, you cannot withdraw any part of the deposit because: The financial institution is bankrupt or insolvent, or The state in which the institution is located has placed limits on withdrawals because other financial institutions in the state are bankrupt or insolvent. How to refile taxes for 2012   The amount of interest you must exclude is the interest that was credited on the frozen deposits minus the sum of: The net amount you withdrew from these deposits during the year, and The amount you could have withdrawn as of the end of the year (not reduced by any penalty for premature withdrawals of a time deposit). How to refile taxes for 2012 If you receive a Form 1099-INT for interest income on deposits that were frozen at the end of 2013, see Frozen deposits under How To Report Interest Income for information about reporting this interest income exclusion on your tax return. How to refile taxes for 2012   The interest you exclude is treated as credited to your account in the following year. How to refile taxes for 2012 You must include it in income in the year you can withdraw it. How to refile taxes for 2012 Example. How to refile taxes for 2012 $100 of interest was credited on your frozen deposit during the year. How to refile taxes for 2012 You withdrew $80 but could not withdraw any more as of the end of the year. How to refile taxes for 2012 You must include $80 in your income and exclude $20 from your income for the year. How to refile taxes for 2012 You must include the $20 in your income for the year you can withdraw it. How to refile taxes for 2012 Bonds traded flat. How to refile taxes for 2012    If you buy a bond at a discount when interest has been defaulted or when the interest has accrued but has not been paid, the transaction is described as trading a bond flat. How to refile taxes for 2012 The defaulted or unpaid interest is not income and is not taxable as interest if paid later. How to refile taxes for 2012 When you receive a payment of that interest, it is a return of capital that reduces the remaining cost basis of your bond. How to refile taxes for 2012 Interest that accrues after the date of purchase, however, is taxable interest income for the year received or accrued. How to refile taxes for 2012 See Bonds Sold Between Interest Dates , later in this chapter. How to refile taxes for 2012 Below-Market Loans If you make a below-market gift or demand loan, you must report as interest income any forgone interest (defined later) from that loan. How to refile taxes for 2012 The below-market loan rules and exceptions are described in this section. How to refile taxes for 2012 For more information, see section 7872 of the Internal Revenue Code and its regulations. How to refile taxes for 2012 If you receive a below-market loan, you may be able to deduct the forgone interest as well as any interest you actually paid, but not if it is personal interest. How to refile taxes for 2012 Loans subject to the rules. How to refile taxes for 2012   The rules for below-market loans apply to: Gift loans, Pay-related loans, Corporation-shareholder loans, Tax avoidance loans, and Certain loans made to qualified continuing care facilities under a continuing care contract. How to refile taxes for 2012 A pay-related loan is any below-market loan between an employer and an employee or between an independent contractor and a person for whom the contractor provides services. How to refile taxes for 2012 A tax avoidance loan is any below-market loan where the avoidance of federal tax is one of the main purposes of the interest arrangement. How to refile taxes for 2012 Forgone interest. How to refile taxes for 2012   For any period, forgone interest is: The amount of interest that would be payable for that period if interest accrued on the loan at the applicable federal rate and was payable annually on December 31, minus Any interest actually payable on the loan for the period. How to refile taxes for 2012 Applicable federal rate. How to refile taxes for 2012   Applicable federal rates are published by the IRS each month in the Internal Revenue Bulletin. How to refile taxes for 2012 Some IRS offices have these bulletins available for research. How to refile taxes for 2012 See chapter 5, How To Get Tax Help , for other ways to get this information. How to refile taxes for 2012 Rules for below-market loans. How to refile taxes for 2012   The rules that apply to a below-market loan depend on whether the loan is a gift loan, demand loan, or term loan. How to refile taxes for 2012 Gift and demand loans. How to refile taxes for 2012   A gift loan is any below-market loan where the forgone interest is in the nature of a gift. How to refile taxes for 2012   A demand loan is a loan payable in full at any time upon demand by the lender. How to refile taxes for 2012 A demand loan is a below-market loan if no interest is charged or if interest is charged at a rate below the applicable federal rate. How to refile taxes for 2012   A demand loan or gift loan that is a below-market loan is generally treated as an arm's-length transaction in which the lender is treated as having made: A loan to the borrower in exchange for a note that requires the payment of interest at the applicable federal rate, and An additional payment to the borrower in an amount equal to the forgone interest. How to refile taxes for 2012 The borrower is generally treated as transferring the additional payment back to the lender as interest. How to refile taxes for 2012 The lender must report that amount as interest income. How to refile taxes for 2012   The lender's additional payment to the borrower is treated as a gift, dividend, contribution to capital, pay for services, or other payment, depending on the substance of the transaction. How to refile taxes for 2012 The borrower may have to report this payment as taxable income, depending on its classification. How to refile taxes for 2012 These transfers are considered to occur annually, generally on December 31. How to refile taxes for 2012 Term loans. How to refile taxes for 2012   A term loan is any loan that is not a demand loan. How to refile taxes for 2012 A term loan is a below-market loan if the amount of the loan is more than the present value of all payments due under the loan. How to refile taxes for 2012   A lender who makes a below-market term loan other than a gift loan is treated as transferring an additional lump-sum cash payment to the borrower (as a dividend, contribution to capital, etc. How to refile taxes for 2012 ) on the date the loan is made. How to refile taxes for 2012 The amount of this payment is the amount of the loan minus the present value, at the applicable federal rate, of all payments due under the loan. How to refile taxes for 2012 An equal amount is treated as original issue discount (OID). How to refile taxes for 2012 The lender must report the annual part of the OID as interest income. How to refile taxes for 2012 The borrower may be able to deduct the OID as interest expense. How to refile taxes for 2012 See Original Issue Discount (OID) , later. How to refile taxes for 2012 Exceptions to the below-market loan rules. How to refile taxes for 2012   Exceptions to the below-market loan rules are discussed here. How to refile taxes for 2012 Exception for loans of $10,000 or less. How to refile taxes for 2012   The rules for below-market loans do not apply to any day on which the total outstanding amount of loans between the borrower and lender is $10,000 or less. How to refile taxes for 2012 This exception applies only to: Gift loans between individuals if the gift loan is not directly used to buy or carry income-producing assets, and Pay-related loans or corporation-shareholder loans if the avoidance of federal tax is not a principal purpose of the interest arrangement. How to refile taxes for 2012 This exception does not apply to a term loan described in (2) earlier that previously has been subject to the below-market loan rules. How to refile taxes for 2012 Those rules will continue to apply even if the outstanding balance is reduced to $10,000 or less. How to refile taxes for 2012 Exception for loans to continuing care facilities. How to refile taxes for 2012   Loans to qualified continuing care facilities under continuing care contracts are not subject to the rules for below-market loans for the calendar year if the lender or the lender's spouse is age 62 or older at the end of the year. How to refile taxes for 2012 For the definitions of qualified continuing care facility and continuing care contract, see Internal Revenue Code section 7872(h). How to refile taxes for 2012 Exception for loans without significant tax effect. How to refile taxes for 2012   Loans are excluded from the below-market loan rules if their interest arrangements do not have a significant effect on the federal tax liability of the borrower or the lender. How to refile taxes for 2012 These loans include: Loans made available by the lender to the general public on the same terms and conditions that are consistent with the lender's customary business practice; Loans subsidized by a federal, state, or municipal government that are made available under a program of general application to the public; Certain employee-relocation loans; Certain loans from a foreign person, unless the interest income would be effectively connected with the conduct of a U. How to refile taxes for 2012 S. How to refile taxes for 2012 trade or business and would not be exempt from U. How to refile taxes for 2012 S. How to refile taxes for 2012 tax under an income tax treaty; Gift loans to a charitable organization, contributions to which are deductible, if the total outstanding amount of loans between the organization and lender is $250,000 or less at all times during the tax year; and Other loans on which the interest arrangement can be shown to have no significant effect on the federal tax liability of the lender or the borrower. How to refile taxes for 2012 For a loan described in (6) above, all the facts and circumstances are used to determine if the interest arrangement has a significant effect on the federal tax liability of the lender or borrower. How to refile taxes for 2012 Some factors to be considered are: Whether items of income and deduction generated by the loan offset each other; The amount of these items; The cost to you of complying with the below-market loan rules, if they were to apply; and Any reasons other than taxes for structuring the transaction as a below-market loan. How to refile taxes for 2012 If you structure a transaction to meet this exception and one of the principal purposes of that structure is the avoidance of federal tax, the loan will be considered a tax-avoidance loan, and this exception will not apply. How to refile taxes for 2012 Limit on forgone interest for gift loans of $100,000 or less. How to refile taxes for 2012   For gift loans between individuals, if the outstanding loans between the lender and borrower total $100,000 or less, the forgone interest to be included in income by the lender and deducted by the borrower is limited to the amount of the borrower's net investment income for the year. How to refile taxes for 2012 If the borrower's net investment income is $1,000 or less, it is treated as zero. How to refile taxes for 2012 This limit does not apply to a loan if the avoidance of federal tax is one of the main purposes of the interest arrangement. How to refile taxes for 2012 Effective dates. How to refile taxes for 2012    These rules apply to term loans made after June 6, 1984, and to demand loans outstanding after that date. How to refile taxes for 2012 U. How to refile taxes for 2012 S. How to refile taxes for 2012 Savings Bonds This section provides tax information on U. How to refile taxes for 2012 S. How to refile taxes for 2012 savings bonds. How to refile taxes for 2012 It explains how to report the interest income on these bonds and how to treat transfers of these bonds. How to refile taxes for 2012 U. How to refile taxes for 2012 S. How to refile taxes for 2012 savings bonds currently offered to individuals include Series EE bonds and Series I bonds. How to refile taxes for 2012 For other information on U. How to refile taxes for 2012 S. How to refile taxes for 2012 savings bonds, write to:  For Series HH/H: Bureau of the Fiscal Service Division of Customer Assistance P. How to refile taxes for 2012 O. How to refile taxes for 2012 Box 2186 Parkersburg, WV 26106-2186  For Series EE and I paper savings bonds: Bureau of the Fiscal Service Division of Customer Assistance P. How to refile taxes for 2012 O. How to refile taxes for 2012 Box 7012 Parkersburg, WV 26106-7012  For Series EE and I electronic bonds: Bureau of the Fiscal Service  Division of Customer Assistance P. How to refile taxes for 2012 O. How to refile taxes for 2012 Box 7015 Parkersburg, WV 26106-7015 Or, on the Internet, visit: www. How to refile taxes for 2012 treasurydirect. How to refile taxes for 2012 gov/indiv/indiv. How to refile taxes for 2012 htm. How to refile taxes for 2012 Accrual method taxpayers. How to refile taxes for 2012   If you use an accrual method of accounting, you must report interest on U. How to refile taxes for 2012 S. How to refile taxes for 2012 savings bonds each year as it accrues. How to refile taxes for 2012 You cannot postpone reporting interest until you receive it or until the bonds mature. How to refile taxes for 2012 Cash method taxpayers. How to refile taxes for 2012   If you use the cash method of accounting, as most individual taxpayers do, you generally report the interest on U. How to refile taxes for 2012 S. How to refile taxes for 2012 savings bonds when you receive it. How to refile taxes for 2012 But see Reporting options for cash method taxpayers , later. How to refile taxes for 2012 Series HH bonds. How to refile taxes for 2012   These bonds were issued at face value. How to refile taxes for 2012 Interest is paid twice a year by direct deposit to your bank account. How to refile taxes for 2012 If you are a cash method taxpayer, you must report interest on these bonds as income in the year you receive it. How to refile taxes for 2012   Series HH bonds were first offered in 1980 and last offered in August 2004. How to refile taxes for 2012 Before 1980, series H bonds were issued. How to refile taxes for 2012 Series H bonds are treated the same as series HH bonds. How to refile taxes for 2012 If you are a cash method taxpayer, you must report the interest when you receive it. How to refile taxes for 2012   Series H bonds have a maturity period of 30 years. How to refile taxes for 2012 Series HH bonds mature in 20 years. How to refile taxes for 2012 The last series H bonds matured in 2009. How to refile taxes for 2012 The last series HH bonds will mature in 2024. How to refile taxes for 2012 Series EE and series I bonds. How to refile taxes for 2012   Interest on these bonds is payable when you redeem the bonds. How to refile taxes for 2012 The difference between the purchase price and the redemption value is taxable interest. How to refile taxes for 2012 Series EE bonds. How to refile taxes for 2012   Series EE bonds were first offered in January 1980 and have a maturity period of 30 years. How to refile taxes for 2012 Before July 1980, series E bonds were issued. How to refile taxes for 2012 The original 10-year maturity period of series E bonds has been extended to 40 years for bonds issued before December 1965 and 30 years for bonds issued after November 1965. How to refile taxes for 2012 Paper series EE and series E bonds are issued at a discount. How to refile taxes for 2012 The face value is payable to you at maturity. How to refile taxes for 2012 Electronic series EE bonds are issued at their face value. How to refile taxes for 2012 The face value plus accrued interest is payable to you at maturity. How to refile taxes for 2012 As of January 1, 2012, paper savings bonds were no longer sold at financial institutions. How to refile taxes for 2012    Owners of paper series EE bonds can convert them to electronic bonds. How to refile taxes for 2012 These converted bonds do not retain the denomination listed on the paper certificate but are posted at their purchase price (with accrued interest). How to refile taxes for 2012 Series I bonds. How to refile taxes for 2012   Series I bonds were first offered in 1998. How to refile taxes for 2012 These are inflation-indexed bonds issued at their face amount with a maturity period of 30 years. How to refile taxes for 2012 The face value plus all accrued interest is payable to you at maturity. How to refile taxes for 2012 Reporting options for cash method taxpayers. How to refile taxes for 2012   If you use the cash method of reporting income, you can report the interest on series EE, series E, and series I bonds in either of the following ways. How to refile taxes for 2012 Method 1. How to refile taxes for 2012 Postpone reporting the interest until the earlier of the year you cash or dispose of the bonds or the year in which they mature. How to refile taxes for 2012 (However, see Savings bonds traded , later. How to refile taxes for 2012 )  Note. How to refile taxes for 2012 Series EE bonds issued in 1983 matured in 2013. How to refile taxes for 2012 If you have used method 1, you generally must report the interest on these bonds on your 2013 return. How to refile taxes for 2012 The last series E bonds were issued in 1980 and matured in 2010. How to refile taxes for 2012 If you used method 1, you generally should have reported the interest on these bonds on your 2010 return. How to refile taxes for 2012 Method 2. How to refile taxes for 2012 Choose to report the increase in redemption value as interest each year. How to refile taxes for 2012  You must use the same method for all series EE, series E, and series I bonds you own. How to refile taxes for 2012 If you do not choose method 2 by reporting the increase in redemption value as interest each year, you must use method 1. How to refile taxes for 2012 If you plan to cash your bonds in the same year you will pay for higher educational expenses, you may want to use method 1 because you may be able to exclude the interest from your income. How to refile taxes for 2012 To learn how, see Education Savings Bond Program, later. How to refile taxes for 2012 Change from method 1. How to refile taxes for 2012   If you want to change your method of reporting the interest from method 1 to method 2, you can do so without permission from the IRS. How to refile taxes for 2012 In the year of change, you must report all interest accrued to date and not previously reported for all your bonds. How to refile taxes for 2012   Once you choose to report the interest each year, you must continue to do so for all series EE, series E, and series I bonds you own and for any you get later, unless you request permission to change, as explained next. How to refile taxes for 2012 Change from method 2. How to refile taxes for 2012   To change from method 2 to method 1, you must request permission from the IRS. How to refile taxes for 2012 Permission for the change is automatically granted if you send the IRS a statement that meets all the following requirements. How to refile taxes for 2012 You have typed or printed the following number at the top: “131. How to refile taxes for 2012 ” It includes your name and social security number under “131. How to refile taxes for 2012 ” It includes the year of change (both the beginning and ending dates). How to refile taxes for 2012 It identifies the savings bonds for which you are requesting this change. How to refile taxes for 2012 It includes your agreement to: Report all interest on any bonds acquired during or after the year of change when the interest is realized upon disposition, redemption, or final maturity, whichever is earliest; and Report all interest on the bonds acquired before the year of change when the interest is realized upon disposition, redemption, or final maturity, whichever is earliest, with the exception of the interest reported in prior tax years. How to refile taxes for 2012   You must attach this statement to your tax return for the year of change, which you must file by the due date (including extensions). How to refile taxes for 2012   You can have an automatic extension of 6 months from the due date of your return for the year of change (excluding extensions) to file the statement with an amended return. How to refile taxes for 2012 On the statement, type or print “Filed pursuant to section 301. How to refile taxes for 2012 9100-2. How to refile taxes for 2012 ” To get this extension, you must have filed your original return for the year of the change by the due date (including extensions). How to refile taxes for 2012    By the date you file the original statement with your return, you must also send a signed copy to the address below. How to refile taxes for 2012    Internal Revenue Service Attention: CC:IT&A (Automatic Rulings Branch) P. How to refile taxes for 2012 O. How to refile taxes for 2012 Box 7604 Benjamin Franklin Station Washington, DC 20044   If you use a private delivery service, send the signed copy to the address below. How to refile taxes for 2012 Internal Revenue Service Attention: CC:IT&A  (Automatic Rulings Branch) Room 5336 1111 Constitution Avenue, NW Washington, DC 20224    Instead of filing this statement, you can request permission to change from method 2 to method 1 by filing Form 3115. How to refile taxes for 2012 In that case, follow the form instructions for an automatic change. How to refile taxes for 2012 No user fee is required. How to refile taxes for 2012 Co-owners. How to refile taxes for 2012   If a U. How to refile taxes for 2012 S. How to refile taxes for 2012 savings bond is issued in the names of co-owners, such as you and your child or you and your spouse, interest on the bond is generally taxable to the co-owner who bought the bond. How to refile taxes for 2012 One co-owner's funds used. How to refile taxes for 2012   If you used your funds to buy the bond, you must pay the tax on the interest. How to refile taxes for 2012 This is true even if you let the other co-owner redeem the bond and keep all the proceeds. How to refile taxes for 2012 Under these circumstances, the co-owner who redeemed the bond will receive a Form 1099-INT at the time of redemption and must provide you with another Form 1099-INT showing the amount of interest from the bond taxable to you. How to refile taxes for 2012 The co-owner who redeemed the bond is a “nominee. How to refile taxes for 2012 ” See Nominee distributions under How To Report Interest Income, later, for more information about how a person who is a nominee reports interest income belonging to another person. How to refile taxes for 2012 Both co-owners' funds used. How to refile taxes for 2012   If you and the other co-owner each contribute part of the bond's purchase price, the interest is generally taxable to each of you, in proportion to the amount each of you paid. How to refile taxes for 2012 Community property. How to refile taxes for 2012   If you and your spouse live in a community property state and hold bonds as community property, one-half of the interest is considered received by each of you. How to refile taxes for 2012 If you file separate returns, each of you generally must report one-half of the bond interest. How to refile taxes for 2012 For more information about community property, see Publication 555. How to refile taxes for 2012 Table 1-2. How to refile taxes for 2012   These rules are also shown in Table 1-2. How to refile taxes for 2012 Child as only owner. How to refile taxes for 2012   Interest on U. How to refile taxes for 2012 S. How to refile taxes for 2012 savings bonds bought for and registered only in the name of your child is income to your child, even if you paid for the bonds and are named as beneficiary. How to refile taxes for 2012 If the bonds are series EE, series E, or series I bonds, the interest on the bonds is income to your child in the earlier of the year the bonds are cashed or disposed of or the year the bonds mature, unless your child chooses to report the interest income each year. How to refile taxes for 2012 Choice to report interest each year. How to refile taxes for 2012   The choice to report the accrued interest each year can be made either by your child or by you for your child. How to refile taxes for 2012 This choice is made by filing an income tax return that shows all the interest earned to date, and by stating on the return that your child chooses to report the interest each year. How to refile taxes for 2012 Either you or your child should keep a copy of this return. How to refile taxes for 2012   Unless your child is otherwise required to file a tax return for any year after making this choice, your child does not have to file a return only to report the annual accrual of U. How to refile taxes for 2012 S. How to refile taxes for 2012 savings bond interest under this choice. How to refile taxes for 2012 However, see Tax on unearned income of certain children , earlier, under General Information. How to refile taxes for 2012 Neither you nor your child can change the way you report the interest unless you request permission from the IRS, as discussed earlier under Change from method 2 . How to refile taxes for 2012 Ownership transferred. How to refile taxes for 2012   If you bought series E, series EE, or series I bonds entirely with your own funds and had them reissued in your co-owner's name or beneficiary's name alone, you must include in your gross income for the year of reissue all interest that you earned on these bonds and have not previously reported. How to refile taxes for 2012 But, if the bonds were reissued in your name alone, you do not have to report the interest accrued at that time. How to refile taxes for 2012   This same rule applies when bonds (other than bonds held as community property) are transferred between spouses or incident to divorce. How to refile taxes for 2012 Example. How to refile taxes for 2012 You bought series EE bonds entirely with your own funds. How to refile taxes for 2012 You did not choose to report the accrued interest each year. How to refile taxes for 2012 Later, you transfer the bonds to your former spouse under a divorce agreement. How to refile taxes for 2012 You must include the deferred accrued interest, from the date of the original issue of the bonds to the date of transfer, in your income in the year of transfer. How to refile taxes for 2012 Your former spouse includes in income the interest on the bonds from the date of transfer to the date of redemption. How to refile taxes for 2012 Table 1-2. How to refile taxes for 2012 Who Pays the Tax on U. How to refile taxes for 2012 S. How to refile taxes for 2012 Savings Bond Interest IF . How to refile taxes for 2012 . How to refile taxes for 2012 . How to refile taxes for 2012 THEN the interest must be reported by . How to refile taxes for 2012 . How to refile taxes for 2012 . How to refile taxes for 2012 you buy a bond in your name and the name of another person as co-owners, using only your own funds you. How to refile taxes for 2012 you buy a bond in the name of another person, who is the sole owner of the bond the person for whom you bought the bond. How to refile taxes for 2012 you and another person buy a bond as co-owners, each contributing part of the purchase price both you and the other co-owner, in proportion to the amount each paid for the bond. How to refile taxes for 2012 you and your spouse, who live in a community property state, buy a bond that is community property you and your spouse. How to refile taxes for 2012 If you file separate returns, both you and your spouse generally report one-half of the interest. How to refile taxes for 2012 Purchased jointly. How to refile taxes for 2012   If you and a co-owner each contributed funds to buy series E, series EE, or series I bonds jointly and later have the bonds reissued in the co-owner's name alone, you must include in your gross income for the year of reissue your share of all the interest earned on the bonds that you have not previously reported. How to refile taxes for 2012 The former co-owner does not have to include in gross income at the time of reissue his or her share of the interest earned that was not reported before the transfer. How to refile taxes for 2012 This interest, however, as well as all interest earned after the reissue, is income to the former co-owner. How to refile taxes for 2012   This income-reporting rule also applies when the bonds are reissued in the name of your former co-owner and a new co-owner. How to refile taxes for 2012 But the new co-owner will report only his or her share of the interest earned after the transfer. How to refile taxes for 2012   If bonds that you and a co-owner bought jointly are reissued to each of you separately in the same proportion as your contribution to the purchase price, neither you nor your co-owner has to report at that time the interest earned before the bonds were reissued. How to refile taxes for 2012 Example 1. How to refile taxes for 2012 You and your spouse each spent an equal amount to buy a $1,000 series EE savings bond. How to refile taxes for 2012 The bond was issued to you and your spouse as co-owners. How to refile taxes for 2012 You both postpone reporting interest on the bond. How to refile taxes for 2012 You later have the bond reissued as two $500 bonds, one in your name and one in your spouse's name. How to refile taxes for 2012 At that time neither you nor your spouse has to report the interest earned to the date of reissue. How to refile taxes for 2012 Example 2. How to refile taxes for 2012 You bought a $1,000 series EE savings bond entirely with your own funds. How to refile taxes for 2012 The bond was issued to you and your spouse as co-owners. How to refile taxes for 2012 You both postponed reporting interest on the bond. How to refile taxes for 2012 You later have the bond reissued as two $500 bonds, one in your name and one in your spouse's name. How to refile taxes for 2012 You must report half the interest earned to the date of reissue. How to refile taxes for 2012 Transfer to a trust. How to refile taxes for 2012   If you own series E, series EE, or series I bonds and transfer them to a trust, giving up all rights of ownership, you must include in your income for that year the interest earned to the date of transfer if you have not already reported it. How to refile taxes for 2012 However, if you are considered the owner of the trust and if the increase in value both before and after the transfer continues to be taxable to you, you can continue to defer reporting the interest earned each year. How to refile taxes for 2012 You must include the total interest in your income in the year you cash or dispose of the bonds or the year the bonds finally mature, whichever is earlier. How to refile taxes for 2012   The same rules apply to previously unreported interest on series EE or series E bonds if the transfer to a trust consisted of series HH or series H bonds you acquired in a trade for the series EE or series E bonds. How to refile taxes for 2012 See Savings bonds traded , later. How to refile taxes for 2012 Decedents. How to refile taxes for 2012   The manner of reporting interest income on series E, series EE, or series I bonds, after the death of the owner (decedent), depends on the accounting and income-reporting methods previously used by the decedent. How to refile taxes for 2012 Decedent who reported interest each year. How to refile taxes for 2012   If the bonds transferred because of death were owned by a person who used an accrual method, or who used the cash method and had chosen to report the interest each year, the interest earned in the year of death up to the date of death must be reported on that person's final return. How to refile taxes for 2012 The person who acquires the bonds includes in income only interest earned after the date of death. How to refile taxes for 2012 Decedent who postponed reporting interest. How to refile taxes for 2012   If the transferred bonds were owned by a decedent who had used the cash method and had not chosen to report the interest each year, and who had bought the bonds entirely with his or her own funds, all interest earned before death must be reported in one of the following ways. How to refile taxes for 2012 The surviving spouse or personal representative (executor, administrator, etc. How to refile taxes for 2012 ) who files the final income tax return of the decedent can choose to include on that return all interest earned on the bonds before the decedent's death. How to refile taxes for 2012 The person who acquires the bonds then includes in income only interest earned after the date of death. How to refile taxes for 2012 If the choice in (1) is not made, the interest earned up to the date of death is income in respect of the decedent and should not be included in the decedent's final return. How to refile taxes for 2012 All interest earned both before and after the decedent's death (except any part reported by the estate on its income tax return) is income to the person who acquires the bonds. How to refile taxes for 2012 If that person uses the cash method and does not choose to report the interest each year, he or she can postpone reporting it until the year the bonds are cashed or disposed of or the year they mature, whichever is earlier. How to refile taxes for 2012 In the year that person reports the interest, he or she can claim a deduction for any federal estate tax paid on the part of the interest included in the decedent's estate. How to refile taxes for 2012 For more information on income in respect of a decedent, see Publication 559, Survivors, Executors, and Administrators. How to refile taxes for 2012 Example 1. How to refile taxes for 2012 Your uncle, a cash method taxpayer, died and left you a $1,000 series EE bond. How to refile taxes for 2012 He had bought the bond for $500 and had not chosen to report the interest each year. How to refile taxes for 2012 At the date of death, interest of $200 had accrued on the bond, and its value of $700 was included in your uncle's estate. How to refile taxes for 2012 Your uncle's executor chose not to include the $200 accrued interest in your uncle's final income tax return. How to refile taxes for 2012 The $200 is income in respect of the decedent. How to refile taxes for 2012 You are a cash method taxpayer and do not choose to report the interest each year as it is earned. How to refile taxes for 2012 If you cash the bond when it reaches maturity value of $1,000, you report $500 interest income—the difference between maturity value of $1,000 and the original cost of $500. How to refile taxes for 2012 For that year, you can deduct (as a miscellaneous itemized deduction not subject to the 2%-of-adjusted-gross-income limit) any federal estate tax paid because the $200 interest was included in your uncle's estate. How to refile taxes for 2012 Example 2. How to refile taxes for 2012 If, in Example 1 , the executor had chosen to include the $200 accrued interest in your uncle's final return, you would report only $300 as interest when you cashed the bond at maturity. How to refile taxes for 2012 $300 is the interest earned after your uncle's death. How to refile taxes for 2012 Example 3. How to refile taxes for 2012 If, in Example 1 , you make or have made the choice to report the increase in redemption value as interest each year, you include in gross income for the year you acquire the bond all of the unreported increase in value of all series E, series EE, and series I bonds you hold, including the $200 on the bond you inherited from your uncle. How to refile taxes for 2012 Example 4. How to refile taxes for 2012 When your aunt died, she owned series HH bonds that she had acquired in a trade for series EE bonds. How to refile taxes for 2012 You were the beneficiary of these bonds. How to refile taxes for 2012 Your aunt used the cash method and did not choose to report the interest on the series EE bonds each year as it accrued. How to refile taxes for 2012 Your aunt's executor chose not to include any interest earned before your aunt's death on her final return. How to refile taxes for 2012 The income in respect of the decedent is the sum of the unreported interest on the series EE bonds and the interest, if any, payable on the series HH bonds but not received as of the date of your aunt's death. How to refile taxes for 2012 You must report any interest received during the year as income on your return. How to refile taxes for 2012 The part of the interest payable but not received before your aunt's death is income in respect of the decedent and may qualify for the estate tax deduction. How to refile taxes for 2012 For information on when to report the interest on the series EE bonds traded, see Savings bonds traded , later. How to refile taxes for 2012 Savings bonds distributed from a retirement or profit-sharing plan. How to refile taxes for 2012   If you acquire a U. How to refile taxes for 2012 S. How to refile taxes for 2012 savings bond in a taxable distribution from a retirement or profit-sharing plan, your income for the year of distribution includes the bond's redemption value (its cost plus the interest accrued before the distribution). How to refile taxes for 2012 When you redeem the bond (whether in the year of distribution or later), your interest income includes only the interest accrued after the bond was distributed. How to refile taxes for 2012 To figure the interest reported as a taxable distribution and your interest income when you redeem the bond, see Worksheet for savings bonds distributed from a retirement or profit-sharing plan under How To Report Interest Income, later. How to refile taxes for 2012 Savings bonds traded. How to refile taxes for 2012   If you postponed reporting the interest on your series EE or series E bonds, you did not recognize taxable income when you traded the bonds for series HH or series H bonds, unless you received cash in the trade. How to refile taxes for 2012 (You cannot trade series I bonds for series HH bonds. How to refile taxes for 2012 After August 31, 2004, you cannot trade any other series of bonds for series HH bonds. How to refile taxes for 2012 ) Any cash you received is income up to the amount of the interest earned on the bonds traded. How to refile taxes for 2012 When your series HH or series H bonds mature, or if you dispose of them before maturity, you report as interest the difference between their redemption value and your cost. How to refile taxes for 2012 Your cost is the sum of the amount you paid for the traded series EE or series E bonds plus any amount you had to pay at the time of the trade. How to refile taxes for 2012 Example. How to refile taxes for 2012 You traded series EE bonds (on which you postponed reporting the interest) for $2,500 in series HH bonds and $223 in cash. How to refile taxes for 2012 You reported the $223 as taxable income on your tax return. How to refile taxes for 2012 At the time of the trade, the series EE bonds had accrued interest of $523 and a redemption value of $2,723. How to refile taxes for 2012 You hold the series HH bonds until maturity, when you receive $2,500. How to refile taxes for 2012 You must report $300 as interest income in the year of maturity. How to refile taxes for 2012 This is the difference between their redemption value, $2,500, and your cost, $2,200 (the amount you paid for the series EE bonds). How to refile taxes for 2012 (It is also the difference between the accrued interest of $523 on the series EE bonds and the $223 cash received on the trade. How to refile taxes for 2012 ) Choice to report interest in year of trade. How to refile taxes for 2012   You could have chosen to treat all of the previously unreported accrued interest on series EE or series E bonds traded for series HH bonds as income in the year of the trade. How to refile taxes for 2012 If you made this choice, it is treated as a change from method 1. How to refile taxes for 2012 See Change from method 1 under Series EE and series I bonds, earlier. How to refile taxes for 2012 Form 1099-INT for U. How to refile taxes for 2012 S. How to refile taxes for 2012 savings bond interest. How to refile taxes for 2012   When you cash a bond, the bank or other payer that redeems it must give you a Form 1099-INT if the interest part of the payment you receive is $10 or more. How to refile taxes for 2012 Box 3 of your Form 1099-INT should show the interest as the difference between the amount you received and the amount paid for the bond. How to refile taxes for 2012 However, your Form 1099-INT may show more interest than you have to include on your income tax return. How to refile taxes for 2012 For example, this may happen if any of the following are true. How to refile taxes for 2012 You chose to report the increase in the redemption value of the bond each year. How to refile taxes for 2012 The interest shown on your Form 1099-INT will not be reduced by amounts previously included in income. How to refile taxes for 2012 You received the bond from a decedent. How to refile taxes for 2012 The interest shown on your Form 1099-INT will not be reduced by any interest reported by the decedent before death, or on the decedent's final return, or by the estate on the estate's income tax return. How to refile taxes for 2012 Ownership of the bond was transferred. How to refile taxes for 2012 The interest shown on your Form 1099-INT will not be reduced by interest that accrued before the transfer. How to refile taxes for 2012 You were named as a co-owner, and the other co-owner contributed funds to buy the bond. How to refile taxes for 2012 The interest shown on your Form 1099-INT will not be reduced by the amount you received as nominee for the other co-owner. How to refile taxes for 2012 (See Co-owners , earlier in this section, for more information about the reporting requirements. How to refile taxes for 2012 ) You received the bond in a taxable distribution from a retirement or profit-sharing plan. How to refile taxes for 2012 The interest shown on your Form 1099-INT will not be reduced by the interest portion of the amount taxable as a distribution from the plan and not taxable as interest. How to refile taxes for 2012 (This amount is generally shown on Form 1099-R, Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. How to refile taxes for 2012 , for the year of distribution. How to refile taxes for 2012 )   For more information on including the correct amount of interest on your return, see U. How to refile taxes for 2012 S. How to refile taxes for 2012 savings bond interest previously reported or Nominee distributions under How To Report Interest Income, later. How to refile taxes for 2012    Interest on U. How to refile taxes for 2012 S. How to refile taxes for 2012 savings bonds is exempt from state and local taxes. How to refile taxes for 2012 The Form 1099-INT you receive will indicate the amount that is for U. How to refile taxes for 2012 S. How to refile taxes for 2012 savings bonds interest in box 3. How to refile taxes for 2012 Do not include this income on your state or local income tax return. How to refile taxes for 2012 Education Savings Bond Program You may be able to exclude from income all or part of the interest you receive on the redemption of qualified U. How to refile taxes for 2012 S. How to refile taxes for 2012 savings bonds during the year if you pay qualified higher educational expenses during the same year. How to refile taxes for 2012 This exclusion is known as the Education Savings Bond Program. How to refile taxes for 2012 You do not qualify for this exclusion if your filing status is married filing separately. How to refile taxes for 2012 Form 8815. How to refile taxes for 2012   Use Form 8815 to figure your exclusion. How to refile taxes for 2012 Attach the form to your Form 1040 or Form 1040A. How to refile taxes for 2012 Qualified U. How to refile taxes for 2012 S. How to refile taxes for 2012 savings bonds. How to refile taxes for 2012   A qualified U. How to refile taxes for 2012 S. How to refile taxes for 2012 savings bond is a series EE bond issued after 1989 or a series I bond. How to refile taxes for 2012 The bond must be issued either in your name (sole owner) or in your and your spouse's names (co-owners). How to refile taxes for 2012 You must be at least 24 years old before the bond's issue date. How to refile taxes for 2012 For example, a bond bought by a parent and issued in the name of his or her child under age 24 does not qualify for the exclusion by the parent or child. How to refile taxes for 2012    The issue date of a bond may be earlier than the date the bond is purchased because the issue date assigned to a bond is the first day of the month in which it is purchased. How to refile taxes for 2012 Beneficiary. How to refile taxes for 2012   You can designate any individual (including a child) as a beneficiary of the bond. How to refile taxes for 2012 Verification by IRS. How to refile taxes for 2012   If you claim the exclusion, the IRS will check it by using bond redemption information from the Department of Treasury. How to refile taxes for 2012 Qualified expenses. How to refile taxes for 2012   Qualified higher educational expenses are tuition and fees required for you, your spouse, or your dependent (for whom you claim an exemption) to attend an eligible educational institution. How to refile taxes for 2012   Qualified expenses include any contribution you make to a qualified tuition program or to a Coverdell education savings account. How to refile taxes for 2012 For information about these programs, see Publication 970, Tax Benefits for Education. How to refile taxes for 2012   Qualified expenses do not include expenses for room and board or for courses involving sports, games, or hobbies that are not part of a degree or certificate granting program. How to refile taxes for 2012 Eligible educational institutions. How to refile taxes for 2012   These institutions include most public, private, and nonprofit universities, colleges, and vocational schools that are accredited and eligible to participate in student aid programs run by the Department of Education. How to refile taxes for 2012 Reduction for certain benefits. How to refile taxes for 2012   You must reduce your qualified higher educational expenses by all of the following tax-free benefits. How to refile taxes for 2012 Tax-free part of scholarships and fellowships. How to refile taxes for 2012 Expenses used to figure the tax-free portion of distributions from a Coverdell ESA. How to refile taxes for 2012 Expenses used to figure the tax-free portion of distributions from a qualified tuition program. How to refile taxes for 2012 Any tax-free payments (other than gifts or inheritances) received as educational assistance, such as: Veterans' educational assistance benefits, Qualified tuition reductions, or Employer-provided educational assistance. How to refile taxes for 2012 Any expense used in figuring the American Opportunity and lifetime learning credits. How to refile taxes for 2012 For information about these benefits, see Publication 970. How to refile taxes for 2012 Amount excludable. How to refile taxes for 2012   If the total proceeds (interest and principal) from the qualified U. How to refile taxes for 2012 S. How to refile taxes for 2012 savings bonds you redeem during the year are not more than your adjusted qualified higher educational expenses for the year, you may be able to exclude all of the interest. How to refile taxes for 2012 If the proceeds are more than the expenses, you may be able to exclude only part of the interest. How to refile taxes for 2012   To determine the excludable amount, multiply the interest part of the proceeds by a fraction. How to refile taxes for 2012 The numer
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The How To Refile Taxes For 2012

How to refile taxes for 2012 Index A Abandonments, Abandonments Annuities, Insurance Policies and Annuities Asset classification Capital, Capital Assets Noncapital, Noncapital Assets Assistance (see Tax help) Assumption of liabilities, Assumption of liabilities. How to refile taxes for 2012 , Liabilities. How to refile taxes for 2012 B Basis Adjusted, Adjusted basis. How to refile taxes for 2012 Original, Basis. How to refile taxes for 2012 Bonds, U. How to refile taxes for 2012 S. How to refile taxes for 2012 Treasury, U. How to refile taxes for 2012 S. How to refile taxes for 2012 Treasury Notes or Bonds Business, sold, Sale of a Business C Canceled Debt, Cancellation of debt. How to refile taxes for 2012 Lease, Cancellation of a lease. How to refile taxes for 2012 Real property sale, Canceling a sale of real property. How to refile taxes for 2012 Capital assets defined, Capital Assets Capital gains and losses Figuring, Long and Short Term Holding period, Holding period. How to refile taxes for 2012 Long term, Long and Short Term Short term, Long and Short Term Treatment of capital losses, Treatment of Capital Losses Casualties, Section 1231 transactions. How to refile taxes for 2012 Charitable organization Bargain sale to, Bargain sales to charity. How to refile taxes for 2012 , Bargain sale to charity. How to refile taxes for 2012 Gift to, Gift to charitable organization. How to refile taxes for 2012 Classes of assets, Classes of assets. How to refile taxes for 2012 Coal, Coal and Iron Ore Coins, Precious Metals and Stones, Stamps, and Coins Comments, Comments and suggestions. How to refile taxes for 2012 Commodities derivative financial instruments, Commodities derivative financial instrument. How to refile taxes for 2012 Condemnations, Condemnations, Section 1231 transactions. How to refile taxes for 2012 Conversion transactions, Conversion Transactions Copyrights, Copyright. How to refile taxes for 2012 , Copyrights. How to refile taxes for 2012 Covenant not to compete, Covenant not to compete. How to refile taxes for 2012 D Debt cancellation, Cancellation of debt. How to refile taxes for 2012 , Cancellation of debt. How to refile taxes for 2012 Deferred exchange, Deferred Exchange Depreciable property Real, Depreciable real property. How to refile taxes for 2012 Records, Depreciation Recapture Section 1245, Section 1245 property defined. How to refile taxes for 2012 , Like-Kind Exchanges and Involuntary Conversions Section 1250, Section 1250 property defined. How to refile taxes for 2012 Depreciation recapture Personal property, Section 1245 Property Real property, Section 1250 property defined. How to refile taxes for 2012 E Easement, Easement. How to refile taxes for 2012 Exchanges Deferred, Deferred Exchange Involuntary, Involuntary Conversions Like-kind, Like-Kind Exchanges, Like-Kind Exchanges and Involuntary Conversions Nontaxable, Nontaxable Exchanges Related persons, Related persons. How to refile taxes for 2012 U. How to refile taxes for 2012 S. How to refile taxes for 2012 Treasury notes or bonds, U. How to refile taxes for 2012 S. How to refile taxes for 2012 Treasury Notes or Bonds F Fair market value, Fair market value. How to refile taxes for 2012 Foreclosure, Foreclosures and Repossessions Form 1040 (Sch. How to refile taxes for 2012 D), Schedule D and Form 8949 1099-A, Forms 1099-A and 1099-C. How to refile taxes for 2012 , Forms 1099-A and 1099-C. How to refile taxes for 2012 1099-B, Form 1099-B. How to refile taxes for 2012 1099-C, Forms 1099-A and 1099-C. How to refile taxes for 2012 , Forms 1099-A and 1099-C. How to refile taxes for 2012 1099-S, Form 1099-S. How to refile taxes for 2012 4797, Business property. How to refile taxes for 2012 , Reporting the exchange. How to refile taxes for 2012 , Form 4797 8594, Reporting requirement. How to refile taxes for 2012 8824, Reporting the exchange. How to refile taxes for 2012 8949, Forms to file. How to refile taxes for 2012 , Personal-use property. How to refile taxes for 2012 , Reporting the exchange. How to refile taxes for 2012 , More information. How to refile taxes for 2012 , Timber, Introduction, Form 1099-B. How to refile taxes for 2012 , Personal-use property. How to refile taxes for 2012 , Mark-to-market election. How to refile taxes for 2012 Franchise, Franchise, Trademark, or Trade Name Free tax services, Free help with your tax return. How to refile taxes for 2012 G Gains and losses Bargain sale, Bargain Sale Business property, Ordinary or Capital Gain or Loss for Business Property Defined, Gain or Loss From Sales and Exchanges Form 4797, Form 4797 Ordinary or capital, Ordinary or Capital Gain or Loss Property changed to business or rental use, Property Changed to Business or Rental Use Property used partly for rental, Property Used Partly for Business or Rental Reporting, Reporting Gains and Losses Gifts of property, Gifts, Gift. How to refile taxes for 2012 Gold, Precious Metals and Stones, Stamps, and Coins H Hedging transactions, Hedging transaction. How to refile taxes for 2012 Help (see Tax help) Holding period, Holding period. How to refile taxes for 2012 Housing, low income, Low-income housing. How to refile taxes for 2012 , Low-Income Housing With Two or More Elements I Indirect ownership of stock, Ownership of stock or partnership interests. How to refile taxes for 2012 Information returns, Information Returns Inherited property, Inherited property. How to refile taxes for 2012 Installment sales, Installment Sales, Installment sale. How to refile taxes for 2012 Insurance policies, Insurance Policies and Annuities Intangible property, Dispositions of Intangible Property Involuntary conversion Defined, Involuntary Conversions Depreciable property, Like-Kind Exchanges and Involuntary Conversions Iron ore, Coal and Iron Ore L Land Release of restriction, Release of restriction on land. How to refile taxes for 2012 Subdivision, Subdivision of Land Lease, cancellation of, Cancellation of a lease. How to refile taxes for 2012 Liabilities, assumption, Liabilities. How to refile taxes for 2012 Like-kind exchanges Deferred, Deferred Exchange Liabilities, assumed, Assumption of liabilities. How to refile taxes for 2012 Like-class property, Like-Kind Property Like-kind property, Like-Kind Property Multiple parties, Multiple-party transactions. How to refile taxes for 2012 Multiple property, Multiple Property Exchanges Partnership interests, Partnership Interests Qualifying property, Qualifying Property Related persons, Like-Kind Exchanges Between Related Persons Low-income housing, Low-income housing. How to refile taxes for 2012 M Multiple property exchanges, Multiple Property Exchanges N Noncapital assets defined, Noncapital Assets Nontaxable exchanges Like-kind, Like-Kind Exchanges Other nontaxable exchanges, Other Nontaxable Exchanges Partially, Partially Nontaxable Exchanges Property exchanged for stock, Property Exchanged for Stock Notes, U. How to refile taxes for 2012 S. How to refile taxes for 2012 Treasury, U. How to refile taxes for 2012 S. How to refile taxes for 2012 Treasury Notes or Bonds O Ordinary or capital gain, Ordinary or Capital Gain or Loss P Partially nontaxable exchanges, Partially Nontaxable Exchanges Partnership Controlled, Controlled partnership transaction. How to refile taxes for 2012 Related persons, Related persons. How to refile taxes for 2012 , Controlled entity. How to refile taxes for 2012 Sale or exchange of interest, Partnership Interests, Partnership interests. How to refile taxes for 2012 , Partnership interests. How to refile taxes for 2012 Patents, Patents Personal property Depreciable, Like-Kind Exchanges and Involuntary Conversions Gains and losses, Personal-use property. How to refile taxes for 2012 Transfer at death, Transfers at Death Precious metals and stones, Precious Metals and Stones, Stamps, and Coins Property used partly for business or rental, Property Used Partly for Business or Rental, Part business or rental. How to refile taxes for 2012 Publications (see Tax help) Publicly traded securities, rollover of gain from, Rollover of Gain From Publicly Traded Securities R Real property Depreciable, Depreciable real property. How to refile taxes for 2012 Transfer at death, Transfers at Death Related persons, Sales and Exchanges Between Related Persons Condemned property replacement, bought from, Buying replacement property from a related person. How to refile taxes for 2012 Gain on sale of property, Sales and Exchanges Between Related Persons Like-kind exchanges between, Like-Kind Exchanges Between Related Persons List, Related persons. How to refile taxes for 2012 Loss on sale of property, Nondeductible Loss Patent transferred to, Related persons. How to refile taxes for 2012 Replacement property, Replacement property. How to refile taxes for 2012 , Replacement property to be produced. How to refile taxes for 2012 Repossession, Foreclosures and Repossessions, Repossession. How to refile taxes for 2012 Residual method, sale of business, Residual method. How to refile taxes for 2012 Rollover of gain, Rollover of Gain From Publicly Traded Securities S Sale of a business, Sale of a Business Sales Bargain, charitable organization, Bargain sales to charity. How to refile taxes for 2012 , Bargain sale to charity. How to refile taxes for 2012 Installment, Installment Sales, Installment sale. How to refile taxes for 2012 Property changed to business or rental use, Property Changed to Business or Rental Use Related persons, Sales and Exchanges Between Related Persons, Related persons. How to refile taxes for 2012 Section 1231 gains and losses, Section 1231 Gains and Losses Section 1245 property Defined, Section 1245 Property Gain, ordinary income, Gain Treated as Ordinary Income Multiple asset accounts, Multiple asset accounts. How to refile taxes for 2012 Section 1250 property Additional depreciation, Additional Depreciation Defined, Section 1250 property defined. How to refile taxes for 2012 Foreclosure, Foreclosure. How to refile taxes for 2012 Gain, ordinary income, Gain Treated as Ordinary Income Nonresidential, Nonresidential real property. How to refile taxes for 2012 Residential, Residential rental property. How to refile taxes for 2012 Section 197 intangibles, Section 197 Intangibles Severance damages, Severance damages. How to refile taxes for 2012 Silver, Precious Metals and Stones, Stamps, and Coins Small business stock, Gains on Sales of Qualified Small Business Stock Specialized small business investment company (SSBIC), rollover of gain into, Rollover of Gain From Publicly Traded Securities Stamps, Precious Metals and Stones, Stamps, and Coins Stock Capital asset, Capital Assets Controlling interest, corporation, Controlling interest in a corporation. How to refile taxes for 2012 Indirect ownership, Ownership of stock or partnership interests. How to refile taxes for 2012 Property exchanged for, Property Exchanged for Stock Publicly traded securities, Rollover of Gain From Publicly Traded Securities Small business, Gains on Sales of Qualified Small Business Stock Suggestions, Comments and suggestions. How to refile taxes for 2012 T Tax help, How To Get Tax Help Tax rates, capital gain, Capital Gains Tax Rates Thefts, Section 1231 transactions. How to refile taxes for 2012 Timber, Timber, Section 1231 transactions. How to refile taxes for 2012 Trade name, Franchise, Trademark, or Trade Name Trademark, Franchise, Trademark, or Trade Name Transfers to spouse, Transfers to Spouse U U. How to refile taxes for 2012 S. How to refile taxes for 2012 Treasury bonds, U. How to refile taxes for 2012 S. How to refile taxes for 2012 Treasury Notes or Bonds Unharvested crops, Section 1231 transactions. How to refile taxes for 2012 Prev  Up     Home   More Online Publications