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Military State Tax

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Military State Tax

Military state tax 7. Military state tax   Ingresos de Intereses Table of Contents Recordatorio Introduction Useful Items - You may want to see: Información General SSN para una cuenta conjunta. Military state tax Cuenta de custodia para su hijo. Military state tax Multa por no facilitar un SSN. Military state tax Cómo se declara la retención adicional. Military state tax Cuenta de ahorros con uno de los padres como fideicomisario. Military state tax Intereses que no se declaran en el Formulario 1099-INT. Military state tax Nominatarios. Military state tax Cantidad incorrecta. Military state tax Requisito de declarar ciertos datos. Military state tax Intereses Sujetos a ImpuestosIntereses sujetos a la multa por retiro prematuro de fondos. Military state tax Préstamo para invertir en un certificado de depósito. Military state tax Bonos de Ahorro de los Estados Unidos Programa de Bonos de Ahorro para Estudios Letras, Pagarés y Bonos del Tesoro de los Estados Unidos Bonos que se Venden Entre las Fechas de Pago de los Intereses Seguros Obligaciones del Gobierno Estatal o Local Descuento de la Emisión Original (OID) Cuándo Se Deben Declarar los Ingresos de InteresesRecibo implícito. Military state tax Cómo se Declaran los Ingresos de InteresesAnexo B (Formulario 1040A o Formulario 1040). Military state tax Cómo declarar los intereses exentos de impuesto. Military state tax Intereses de bonos de ahorro de los EE. Military state tax UU. Military state tax declarados anteriormente. Military state tax Recordatorio Ingresos de fuentes en el extranjero. Military state tax  Si es ciudadano estadounidense y recibió ingresos de intereses desde fuentes que se encuentran fuera de los Estados Unidos (ingresos de origen extranjero), tiene que declarar esos ingresos en su declaración de impuestos a no ser que los mismos estén exentos de impuestos de acuerdo con la ley de los Estados Unidos. Military state tax Esto es aplicable aun cuando resida dentro o fuera de los Estados Unidos o no haya recibido un Formulario 1099 de un pagador en el extranjero. Military state tax Introduction Este capítulo trata de los siguientes temas: Las diferentes clases de ingresos de intereses. Military state tax Qué intereses están sujetos a impuestos y qué intereses no están sujetos a impuestos. Military state tax Cuándo se deben declarar los ingresos por concepto de intereses y Cómo se declaran los ingresos de intereses en su declaración de impuestos. Military state tax Por regla general, los intereses que usted reciba o que se abonen a su cuenta y puedan ser retirados constituyen ingreso tributable. Military state tax Las excepciones a esta regla se explican más adelante en este capítulo. Military state tax Puede deducir los gastos en los que haya incurrido al producir esos ingresos en el Anexo A del Formulario 1040 si detalla las deducciones. Military state tax Vea Préstamo para invertir en un certificado de depósito , más adelante, y el capítulo 28 . Military state tax Useful Items - You may want to see: Publicación 537 Installment Sales (Ventas a plazos), en inglés 550 Investment Income and Expenses (Ingresos y gastos de inversiones), en inglés 1212 Guide to Original Issue Discount (OID) Instruments (Guía para documentos relacionados con la emisión original de descuento (OID, por sus siglas en inglés)), en inglés Formulario (e Instrucciones) Anexo B (Formulario 1040A o 1040) Interest and Ordinary Dividends (Intereses y dividendos ordinarios), en inglés 8815 Exclusion of Interest From Series EE and I U. Military state tax S. Military state tax Savings Bonds Issued After 1989 (Exclusión de los intereses provenientes de bonos de ahorros estadounidenses calificados de las Series EE e I emitidos después de 1989), en inglés 8818 Optional Form To Record Redemption of Series EE and I U. Military state tax S. Military state tax Savings Bonds Issued After 1989 (Formulario opcional para documentar el rescate de bonos de ahorros de las Series EE e I emitidos después de 1989), en inglés Información General A continuación, se tratan algunos temas de interés general: Documentación. Military state tax Debe guardar una lista en la que se indiquen la fuente y cantidades de intereses recibidos durante el año. Military state tax Guarde también los documentos que reciba en los cuales aparezcan sus ingresos de intereses (por ejemplo, los Formularios 1099-INT) como una parte importante de sus archivos. Military state tax Impuestos sobre ingresos no derivados del trabajo de determinados hijos. Military state tax   Una parte de los ingresos no derivados del trabajo que haya recibido un hijo en el año 2013 podría estar sujeta a la misma tasa impositiva que la de sus padres. Military state tax En ese caso, tiene que completar el Formulario 8615, Tax for Certain Children Who Have Unearned Income (Impuesto para determinados hijos con ingresos no derivados del trabajo), en inglés, y adjuntarlo a la declaración de impuestos del menor en cuestión. Military state tax Si no le corresponde, no se requiere el Formulario 8615 y los ingresos del menor están sujetos a la tasa impositiva que le corresponde. Military state tax   Ciertos padres determinados pueden optar por incluir los intereses y dividendos del menor en su declaración de impuestos si se satisfacen ciertos requisitos. Military state tax Si usted es uno de dichos padres, utilice el Formulario 8814, Parents' Election To Report Child's Interest and Dividends (Elección del padre o de la madre de declarar los intereses y dividendos del hijo), en inglés, para tal propósito. Military state tax   Para más información acerca del impuesto sobre los ingresos no derivados del trabajo de hijos menores y la elección de los padres, vea el capítulo 31. Military state tax Beneficiario de un caudal hereditario o fideicomiso. Military state tax   Los ingresos por concepto de intereses que recibe como beneficiario de un caudal hereditario o fideicomiso suelen considerarse ingreso tributable. Military state tax Usted debería recibir del fiduciario un Anexo K-1 (Formulario 1041), Beneficiary's Share of Income, Deductions, Credits, etc. Military state tax (Participación en los ingresos, deducciones, créditos, etc. Military state tax , correspondiente al beneficiario), en inglés. Military state tax La copia Anexo K-1 (Formulario 1041), en inglés, y las instrucciones afines le informarán en dónde se deben anotar los ingresos en el Formulario 1040. Military state tax Número de Seguro Social. Military state tax   Tiene que facilitar su nombre y número de Seguro Social (SSN, por sus siglas en inglés) o número de identificación personal del contribuyente del Servicio de Impuestos Internos (ITIN, por sus siglas en inglés) a todo individuo que esté obligado por las leyes federales de impuestos a hacer una declaración, informe u otro documento pertinente a su caso. Military state tax Esto incluye a quienes pagan intereses. Military state tax Si no le provee su SSN o ITIN al pagador de los intereses, quizás tendría que pagar una multa. Military state tax SSN para una cuenta conjunta. Military state tax   Si los fondos de una cuenta conjunta pertenecen a un solo individuo, anote primero el nombre de tal individuo en la cuenta y déle al pagador el SSN de esa persona. Military state tax (Para información sobre quién tiene posesión legal de los fondos en una cuenta conjunta, vea Cuentas conjuntas , más adelante). Military state tax Si la cuenta conjunta tiene fondos mixtos, anote el SSN del individuo cuyo nombre aparece primero en la cuenta. Military state tax Esto es así ya que sólo un nombre y un SSN se pueden mostrar en el Formulario 1099. Military state tax   Estas reglas corresponden a la posesión conjunta de una cuenta de un matrimonio y a la posesión conjunta de la cuenta por otros individuos. Military state tax Por ejemplo, si abre una cuenta conjunta de ahorros con su hijo, utilizando fondos que pertenezcan únicamente al hijo, anote primero el nombre de éste en la cuenta y provea el SSN del hijo. Military state tax Cuenta de custodia para su hijo. Military state tax   Si su hijo es el dueño legal de una cuenta que se ha registrado en nombre de usted como custodio del hijo o de la hija, déle al pagador el SSN de su hijo. Military state tax Por ejemplo, usted tiene que proveer el SSN de su hijo a quien paga los intereses de la cuenta de su hijo, aun cuando se le paguen los intereses a usted como custodio. Military state tax Multa por no facilitar un SSN. Military state tax   Si no le da su SSN a quien paga los intereses, quizás tenga que pagar una multa. Military state tax Vea Incumplimiento de la entrega del número de Seguro Social , bajo Multas, en el capítulo 1 de esta publicación. Military state tax La retención adicional (backup withholding) también puede corresponder en este caso. Military state tax Retención adicional de impuestos. Military state tax   Por regla general, los ingresos de intereses no están sujetos a la retención normal del impuesto. Military state tax No obstante, pueden estar sujetos a la retención adicional (backup withholding) para asegurar que se le retenga impuesto sobre ese ingreso. Military state tax Según la regla de la retención adicional, el pagador de los intereses tiene que retener un porcentaje conforme a la tasa apropiada de retención, de la cantidad del ingreso que le paga como impuesto sobre los ingresos. Military state tax   También se le puede requerir una retención adicional de impuestos si el Servicio de Impuestos Internos (IRS, por sus siglas en inglés) ha determinado que usted declaró una cantidad inferior de ingresos de intereses o dividendos de lo que en verdad recibió. Military state tax Para más información, vea Retención Adicional , en el capítulo 4. Military state tax Cómo se declara la retención adicional. Military state tax   Si se le deduce retención adicional de impuestos de sus ingresos de intereses, el pagador de los ingresos tiene que enviarle un Formulario 1099-INT para el año, el cual mostrará la cantidad adicional retenida. Military state tax El Formulario 1099-INT indicará toda retención adicional como “ Federal income tax withheld (Impuesto federal sobre los ingresos retenido)”. Military state tax Cuentas conjuntas. Military state tax   Si dos o más individuos tienen bienes (por ejemplo, una cuenta de ahorros o bono de propiedad) en tenencia conjunta (joint tenants) o de propiedad de tenencia conyugal (tenants by the entirety) o de tenencia común (tenants in common), la participación de cada individuo en la propiedad o bien en cuestión se determinará según las leyes locales. Military state tax Ingresos derivados de propiedad regalada a un hijo. Military state tax   Toda propiedad que usted haya regalado a su hijo bajo la Model Gifts of Securities to Minors Act (Ley modelo de regalos de valores bursátiles a hijos menores), la Uniform Gifts to Minors Act (Ley uniforme de regalos a hijos menores) o bajo ley semejante alguna, se considera propiedad que pertenece al hijo. Military state tax   Los ingresos derivados de la propiedad son tributables al hijo, a menos que alguna parte de los ingresos se utilice para satisfacer una obligación o deuda legal de manutención del hijo de uno de los padres o tutor, el cual tiene la responsabilidad de incluir dichos ingresos y pagar impuestos. Military state tax Cuenta de ahorros con uno de los padres como fideicomisario. Military state tax   Los ingresos de intereses de una cuenta de ahorros establecida para un hijo menor que se haya puesto a nombre de los padres y esté sujeta al control de éstos como fideicomisarios, es tributable con respecto al hijo si, de acuerdo con la ley del estado en el cual vive el hijo, corresponden las dos condiciones siguientes: La cuenta de ahorros pertenece legalmente al hijo. Military state tax Los padres no tienen autorización legal para utilizar porción alguna de los fondos para costear los gastos de manutención del hijo. Military state tax Formulario 1099-INT. Military state tax   Por lo general, los bancos, asociaciones de ahorro y préstamo y otros pagadores de intereses le declaran todo ingreso de intereses en un Formulario 1099-INT, en inglés, o en un documento similar. Military state tax En este formulario se indicará la cantidad de intereses que recibió durante el año. Military state tax Guarde este formulario con su documentación. Military state tax No tiene que adjuntarlo a su declaración de impuestos. Military state tax   Incluya en su declaración de impuestos el total de los ingresos de intereses que reciba correspondiente al año tributario. Military state tax Intereses que no se declaran en el Formulario 1099-INT. Military state tax   Aun cuando no reciba un Formulario 1099-INT, igual tiene que declarar todos sus ingresos de intereses recibidos. Military state tax Por ejemplo, puede que reciba acciones distribuidas en forma de intereses de sociedades colectivas o de sociedades anónimas de tipo S. Military state tax Se declararán estos intereses en su Anexo K-1 (Formulario 1065), Partner's Share of Income, Deductions, Credits, etc. Military state tax (Parte de los ingresos, deducciones, créditos, etc. Military state tax , correspondiente al socio), en inglés, o en el Anexo K-1 (Formulario 1120S), Shareholder's Share of Income, Deductions, Credits, etc. Military state tax (Parte de los ingresos, deducciones, créditos, etc. Military state tax , correspondiente al accionista), en inglés. Military state tax Nominatarios. Military state tax   Por regla general, si un individuo recibe intereses en nombre suyo (o sea, como nominatario), esa persona le tiene que proveer un Formulario 1099-INT con la cantidad de intereses que recibió por usted. Military state tax   Si recibe un Formulario 1099-INT en el cual se incluyen cantidades que pertenecen a otro individuo, vea la explicación acerca de distribuciones que reciben los nominatarios en la sección How To Report Interest Income (Cómo se declaran los ingresos de intereses) en el capítulo 1 de la Publicación 550, en inglés. Military state tax También puede conseguir información sobre este tema en las instrucciones para el Anexo B (Formulario 1040A o 1040), en inglés. Military state tax Cantidad incorrecta. Military state tax   Si recibe un Formulario 1099-INT que indique una cantidad incorrecta (u otra información equivocada), debe pedirle al emisor un formulario corregido que contenga la información correcta. Military state tax El nuevo Formulario 1099-INT que reciba se marcará con la palabra “Corrected” (Corregido). Military state tax Formulario 1099-OID. Military state tax   El ingreso de intereses que se tiene que declarar también puede aparecer en el Formulario 1099-OID, Original Issue Discount (Descuento de la emisión original), en inglés. Military state tax Para más información sobre las cantidades que aparecen en este formulario, vea Descuento de la Emisión Original (OID) , más adelante en este capítulo. Military state tax Dividendos con intereses exentos. Military state tax   Los dividendos que produzcan intereses exentos que usted reciba de un fondo mutuo u otra sociedad inversionista reglamentada, incluyendo aquellos dividendos recibidos de un fondo calificado de fondos en cualquier año tributario que comience después del 22 de diciembre de 2010, no se incluyen en su ingreso tributable. Military state tax (No obstante, vea Requisito de declarar ciertos datos , en el próximo párrafo). Military state tax Los dividendos con intereses exentos deben aparecer en el recuadro 10 del Formulario 1099-DIV. Military state tax En el caso de distribuciones que sean dividendos con intereses exentos, usted no reduce su base. Military state tax Requisito de declarar ciertos datos. Military state tax   Aunque los dividendos con intereses exentos no están sujetos a impuestos, tiene que declararlos en su declaración de impuestos si se ve obligado a presentar la declaración. Military state tax No es nada más que un requisito de declarar ciertos datos en su declaración y no convertirá los dividendos con intereses exentos en ingreso tributable. Military state tax Nota: Los dividendos que produzcan intereses exentos y que se hayan pagado con bonos de actividad privada especificados, podrían estar sujetos al impuesto mínimo alternativo. Military state tax Vea el tema titulado Impuesto Mínimo Alternativo (AMT) en el capítulo 30 para más información. Military state tax El capítulo 1 de la Publicación 550, en inglés, contiene una explicación sobre los bonos de actividad particular bajo la sección titulada State or Local Government Obligations (Obligaciones de los gobiernos estatales o locales). Military state tax Intereses de dividendos del Departamento de Asuntos de Veteranos (VA dividends). Military state tax   Los intereses de dividendos de seguros que usted deje en depósito en el Departamento de Asuntos de Veteranos (VA, por sus siglas en inglés) no están sujetos a impuestos. Military state tax En éstos se incluyen los intereses pagados sobre dividendos de las pólizas convertidas de United States Government Life Insurance (Seguros de Vida del Gobierno de los Estados Unidos) y National Service Life Insurance (Seguros de Vida del Servicio Nacional). Military state tax Arreglos de ahorros para la jubilación (IRA, por sus siglas en inglés). Military state tax   Los intereses procedentes de un arreglo Roth IRA no suelen ser tributables. Military state tax Los intereses de un arreglo IRA tradicional son diferidos de tributación. Military state tax Por lo general, no debe incluir esos intereses en sus ingresos hasta que empiece a retirar los fondos de su arreglo IRA. Military state tax Vea el capítulo 17 para más información. Military state tax Intereses Sujetos a Impuestos En los intereses tributables se incluyen los intereses que reciba de cuentas bancarias, de préstamos que haga a otras personas y otras fuentes. Military state tax A continuación se enumeran otras fuentes de intereses tributables. Military state tax Dividendos que en realidad son intereses. Military state tax   Ciertas distribuciones que se denominan comúnmente dividendos son en realidad intereses. Military state tax Tiene que declarar como intereses aquellos llamados “dividendos” en depósitos o en cuentas de acciones de: Bancos cooperativos, Cooperativas de ahorro y crédito, Asociaciones nacionales de préstamos para edificación, Sociedades nacionales de ahorros y préstamos, Sociedades federales de ahorros y préstamos y Bancos mutualistas de ahorros. Military state tax   Los “dividendos” se informan en el Formulario 1099-INT como ingresos de intereses. Military state tax Fondos del mercado monetario. Military state tax   Los fondos del mercado monetario pagan dividendos y son ofrecidos por instituciones financieras que no son consideradas “bancos”, tales como, casas de corretaje bursátil y de fondos mutuos. Military state tax Por regla general, las cantidades que reciba de los fondos del mercado monetario (money market funds) deben declararse como dividendos y no como intereses. Military state tax Certificados de depósito y otras cuentas de intereses diferidos. Military state tax   Si abre cualesquiera de estas cuentas, se le podrán pagar intereses a intervalos fijos de un año o menos durante la vigencia de la cuenta. Military state tax Por lo general, deberá incluir dichos intereses en sus ingresos cuando de hecho los reciba o tenga derecho a recibirlos sin tener que pagar una multa sustancial. Military state tax Esto es aplicable para las cuentas que venzan dentro de un año o menos y que paguen intereses en un solo pago al vencer. Military state tax Si se difieren los intereses durante más de un año, vea Descuento de la Emisión Original (OID) , más adelante. Military state tax Intereses sujetos a la multa por retiro prematuro de fondos. Military state tax   Si retira fondos de una cuenta de intereses diferidos antes de su vencimiento, es posible que tenga que pagar una multa. Military state tax Tiene que declarar la cantidad total de los intereses pagados o acreditados a su cuenta durante el año, sin restar la multa. Military state tax Vea Penalty on early withdrawal of savings (Multa por retiro prematuro de ahorros) en el capítulo 1 de la Publicación 550, en inglés, para más información sobre cómo se declaran los intereses y cómo deducir la multa. Military state tax Préstamo para invertir en un certificado de depósito. Military state tax   Los intereses que paga sobre el préstamo de un banco o de una institución de ahorros para cumplir el requisito de depósito mínimo para poder recibir un certificado de depósito de la institución y los intereses que usted recibe sobre el certificado son dos conceptos distintos. Military state tax Tiene que incluir en sus ingresos el total de los intereses devengados del certificado. Military state tax Si detalla sus deducciones, puede deducir los intereses que haya pagado como intereses de inversiones, hasta la cantidad total de sus ingresos netos de inversiones. Military state tax Vea Interest Expenses (Gastos de intereses), en el capítulo 3 de la Publicación 550, en inglés. Military state tax Ejemplo. Military state tax Usted depositó $5,000 en un banco y pidió prestados $5,000 del banco a fin de satisfacer el depósito mínimo de $10,000 que se requiere para comprar un certificado de depósito que vence a los 6 meses. Military state tax El certificado generó una utilidad de $575 al vencerse en el año 2013, pero usted recibió sólo $265, cantidad que representa los $575 devengados menos $310 por intereses cobrados sobre los $5,000 del préstamo. Military state tax El banco le envía un Formulario 1099-INT del año 2013 que muestra $575 de intereses devengados. Military state tax El banco le envía además una confirmación que indica que usted pagó $310 por concepto de intereses durante el año 2013. Military state tax Tiene que incluir los $575 en sus ingresos. Military state tax Si detalla las deducciones en el Anexo A del Formulario 1040, puede deducir $310 sujetos al límite del ingreso neto de inversiones. Military state tax Regalo por abrir una cuenta. Military state tax   Si recibe regalos no monetarios o servicios por hacer depósitos o por abrir una cuenta en una institución de ahorros, es posible que tenga que declarar el valor del regalo como intereses. Military state tax   Para depósitos menores de $5,000, los regalos o servicios valorados por más de $10 tienen que ser declarados como intereses. Military state tax Para depósitos de $5,000 o más, los regalos o servicios valorados por más de $20 tienen que ser declarados como intereses. Military state tax El valor de los regalos o servicios se determina según el costo de éstos a la institución financiera. Military state tax Ejemplo. Military state tax Usted abrió una cuenta de ahorros en su banco local y depositó $800. Military state tax La cuenta genera $20 por concepto de intereses. Military state tax También, recibió una calculadora con un valor de $15. Military state tax Si no se acredita en la cuenta cantidad adicional alguna por intereses durante el año, el Formulario 1099-INT que reciba mostrará $35 de intereses recibidos durante el año. Military state tax Tiene que declarar los $35 como ingreso de intereses en su declaración de impuestos. Military state tax Intereses sobre los dividendos de seguros. Military state tax   Los intereses sobre los dividendos de seguros depositados en una compañía de seguros que se pueden retirar anualmente son tributables en el año durante el cual los intereses se acreditan a su cuenta. Military state tax Sin embargo, si usted puede retirarlos sólo en la fecha de aniversario de la póliza (u otra fecha especificada), los intereses son tributables en el año en el cual ocurre tal fecha. Military state tax Primas de seguro pagadas por adelantado. Military state tax   Todo aumento del valor de primas de seguro pagadas por adelantado, de primas cobradas con anticipación o de fondos para depósito de primas se consideran intereses si se aplica al pago de las primas vencidas de pólizas de seguros o aquéllas que puede retirar. Military state tax Títulos de deudas de los Estados Unidos. Military state tax   Los intereses sobre títulos de deudas de los EE. Military state tax UU. Military state tax , tales como las letras del Tesoro, pagarés y bonos emitidos por alguna entidad o agencia de los EE. Military state tax UU. Military state tax , son tributables para propósitos del impuesto federal sobre los ingresos. Military state tax Intereses sobre los reembolsos de impuestos. Military state tax   Los intereses que reciba de su reembolso de impuestos constituyen ingresos tributables. Military state tax Intereses sobre la adjudicación de una expropiación forzosa. Military state tax   Si la autoridad que adjudicó una expropiación le paga intereses para compensarle alguna demora en otorgar la adjudicación, los intereses que resulten serán tributables. Military state tax Ventas con pagos a plazos. Military state tax   Si un contrato para la venta o intercambio de propiedad estipula que se le abonen pagos diferidos, dicho contrato suele también estipular que se le paguen intereses con los pagos diferidos. Military state tax Dichos intereses son tributables en el momento en que los reciba. Military state tax Si el contrato de pagos diferidos no estipula el pago de intereses o estipula que se pague una cantidad menor de intereses, una parte de cada pago recibido puede considerarse pago de intereses. Military state tax Vea Unstated Interest and Original Issue Discount (OID) (Intereses no divulgados y descuento de la emisión original (OID)) en la Publicación 537, Installment Sales (Ventas a plazos), en inglés. Military state tax Intereses de un contrato de anualidad. Military state tax   Los intereses acumulados de un contrato de anualidad que haya vendido antes de su fecha de vencimiento son tributables. Military state tax Intereses usurarios (intereses abusivos). Military state tax   Los intereses usurarios (intereses abusivos) son aquéllos que se cobran a una tasa ilegal. Military state tax Se tributan como intereses a menos que la ley estatal automáticamente los convierta en un pago del capital del préstamo. Military state tax Ingresos de intereses sobre depósitos bloqueados. Military state tax   Excluya de su ingreso bruto todos los intereses devengados de un depósito bloqueado. Military state tax Se considera bloqueado un depósito si, al finalizar el año, usted no puede retirar parte alguna del depósito por uno de los motivos siguientes: La institución financiera se ha declarado en quiebra o se ha vuelto insolvente o El estado donde se ubica la institución financiera ha impuesto límites sobre los fondos que se pueden retirar porque otras instituciones financieras dentro del estado están en quiebra o son insolventes. Military state tax   La cantidad de intereses que tiene que excluir es la cantidad de intereses que hayan sido acreditados a los depósitos bloqueados menos la suma de las dos cantidades siguientes: La cantidad neta que retiró de esos depósitos durante el año y La cantidad que podría haber retirado para el final del año (sin restarle multa alguna por retiro prematuro de un depósito a término). Military state tax Si recibe un Formulario 1099-INT por ingreso de intereses sobre depósitos que se bloquearon al final del año 2013, vea Frozen deposits (Depósitos bloqueados), bajo How To Report Interest Income (Cómo se declaran los ingresos de intereses), en el capítulo 1 de la Publicación 550, en inglés, para más información sobre cómo se declara la exclusión del ingreso por intereses en su declaración de impuestos. Military state tax   Los intereses que se excluyen se tratan como si fueran acreditados a su cuenta durante el año siguiente. Military state tax Tiene que incluir esos intereses en su ingreso bruto tan pronto como tenga derecho a retirarlos. Military state tax Ejemplo. Military state tax Se acreditaron $100 durante el año por concepto de intereses a su depósito bloqueado. Military state tax Usted retiró $80 pero no pudo retirar más hasta después del final del año. Military state tax Tiene que incluir $80 en sus ingresos y excluir $20 de los ingresos de ese año. Military state tax Tiene que incluir los $20 en los ingresos del año en el cual pueda retirarlos. Military state tax Bonos negociados sin que su precio se ajuste en función de los intereses devengados debido a un mercado chato. Military state tax   Si compra, a precio reducido, un bono con intereses morosos o cuyos intereses se han acumulado pero no han sido pagados, se considera que este bono ha sido negociado sin que su precio se haya ajustado en función de los intereses devengados debido a un mercado chato. Military state tax Dichos intereses no se consideran ingresos y no tributan como intereses si se pagan después. Military state tax Cuando recibe un pago de ese tipo de intereses, se considera una devolucion de capital que reduce lo que queda de la base de costo del bono original. Military state tax No obstante, los intereses que se acumulan después de la fecha en que compró el bono son ingresos de intereses tributables para el año en el cual los recibió o se acumularon. Military state tax Vea Bonos que se Venden entre las Fechas de Pago de los Intereses , más adelante, para más información. Military state tax Préstamos inferiores al costo de mercado. Military state tax   Por lo general, un préstamo inferior al costo de mercado es aquél sobre el cual no se cargan intereses o sobre el cual se cargan intereses a una tasa inferior a la tasa federal aplicable. Military state tax Vea Below-Market Loans (Préstamos inferiores al costo justo del mercado) en el capítulo 1 de la Publicación 550, en inglés, para más información. Military state tax Bonos de Ahorro de los Estados Unidos Esta sección brinda información tributaria acerca de los bonos de ahorro de los Estados Unidos. Military state tax Explica cómo se declaran los ingresos de intereses derivados de esos bonos y cómo se tratan ciertos traspasos de los mismos. Military state tax Para otra información sobre los bonos de ahorro de los EE. Military state tax UU. Military state tax , escriba a: Para los bonos en papel de las series EE e I: Bureau of the Public Debt Division of Customer Assistance P. Military state tax O. Military state tax Box 7012 Parkersburg, WV 26106-7012  Para los bonos electrónicos de las series EE e I: Bureau of the Public Debt Division of Customer Assistance P. Military state tax O. Military state tax Box 7015 Parkersburg, WV 26106-7015  Para la serie HH/H: Bureau of the Public Debt Division of Customer Assistance P. Military state tax O. Military state tax Box 2186 Parkersburg, WV 26106-2186 O puede visitar la siguiente página en Internet: www. Military state tax treasurydirect. Military state tax gov/indiv/indiv. Military state tax htm, en inglés. Military state tax Contribuyentes que usan el método contable a base de lo devengado. Military state tax   Si utiliza el método contable a base de lo devengado, tiene que declarar los intereses derivados de los bonos de ahorro de los EE. Military state tax UU. Military state tax para cada año a medida que se acumulan dichos intereses. Military state tax No puede aplazar la declaración de esos intereses hasta que los reciba o hasta que se venzan los bonos. Military state tax El método de contabilidad a base de lo devengado se explica bajo Métodos Contables , en el capítulo 1 de esta publicación. Military state tax Contribuyentes que usan el método contable a base de efectivo. Military state tax   Si utiliza el método contable a base de efectivo, como la mayoría de los contribuyentes que son personas físicas, declarará los intereses de bonos de ahorro de los EE. Military state tax UU. Military state tax , por regla general, cuando los reciba. Military state tax El método contable a base de efectivo se explica bajo Métodos Contables , en el capítulo 1. Military state tax Vea Opciones que tienen los contribuyentes que usan el método a base de efectivo para declarar sus ingresos , más adelante. Military state tax Bonos de la serie HH. Military state tax    Estos bonos se emitieron a su valor nominal. Military state tax Se pagan los intereses dos veces al año mediante depósito directo a su cuenta bancaria. Military state tax Si utiliza el método contable a base de efectivo, tiene que declarar los intereses de esos bonos como ingresos en el año en que los recibe. Military state tax   Los bonos de la serie HH se ofrecieron por primera vez en el año 1980. Military state tax Se ofrecieron por última vez en agosto del año 2004. Military state tax Los bonos de la serie H se emitieron antes de 1980. Military state tax El método que tiene que usar para los bonos de la serie H es igual al de los bonos de la serie HH. Military state tax Si es contribuyente que usa el método a base de efectivo, tiene que declarar los intereses de esos bonos en el año en que los recibe. Military state tax   El período de vencimiento para los bonos de la serie H es de 30 años. Military state tax El período de vencimiento para los bonos de la serie HH es de 20 años. Military state tax Los últimos bonos de la serie H que se emitieron vencieron en el año 2009. Military state tax Bonos de la serie EE y de la serie I. Military state tax   Los intereses sobre estos bonos se pagan al rescatarlos. Military state tax La diferencia entre el precio de compra y el valor de rescate son intereses tributables. Military state tax Bonos de la serie EE. Military state tax   Los bonos de la serie EE se ofrecieron por primera vez en enero de 1980. Military state tax Tienen un período de vencimiento de 30 años. Military state tax   Antes de julio de 1980, se emitían bonos de la serie E. Military state tax El período de vencimiento original de 10 años para los bonos de la serie E se extendió a 40 años para los bonos emitidos antes de diciembre de 1965 y a 30 años para los bonos emitidos después de noviembre de 1965. Military state tax Los bonos de la serie EE y de la serie E en papel se emiten con descuento. Military state tax El valor nominal de esos bonos se le paga a usted en la fecha de vencimiento. Military state tax Los bonos electrónicos de la serie EE se emiten a su valor nominal. Military state tax El valor nominal, más los intereses acumulados, se le pagan a usted en la fecha de vencimiento. Military state tax A partir del 1 de enero de 2012, los bonos de ahorro en papel ya no se venden en las instituciones financieras. Military state tax   Los dueños de bonos de las series EE en papel pueden convertirlos en bonos electrónicos. Military state tax Estos bonos convertidos no retienen la denominación indicada en el certificado impreso; sin embargo, aparecerán a su precio de valor de compra (más otros intereses acumulados). Military state tax Bonos de la serie I. Military state tax   Los bonos de la serie I se ofrecieron por primera vez en el año 1998. Military state tax Éstos son bonos emitidos en su valor nominal que se ajusta con un índice inflacionario. Military state tax Tienen un período de vencimiento de 30 años. Military state tax El valor nominal, más los intereses acumulados de esos bonos, se le pagan a usted en su fecha de vencimiento. Military state tax Opciones que tienen los contribuyentes que usan el método a base de efectivo para declarar sus ingresos. Military state tax   Si declara sus ingresos utilizando el método a base de efectivo, puede declarar los intereses de los bonos de la serie EE, de la serie E y de la serie I de una de las maneras siguientes: Método 1. Military state tax Postergue la declaración de los intereses hasta el año en que rescate o venda los bonos o el año en que se venzan, lo que ocurra primero. Military state tax (No obstante, vea Cambio de los bonos de ahorro , más adelante). Military state tax  Nota: Los bonos de la serie EE emitidos en 1983 vencieron en el año 2013. Military state tax Si usted utiliza el Método 1, por regla general, tendrá que declarar los intereses de esos bonos en su declaración de impuestos del año 2013. Military state tax Los últmos bonos de la serie E fueron emitidos en 1980 y vencieron en el año 2010. Military state tax Si utilizó el Método 1, por regla general, tuvo que haber declarado los intereses de esos bonos en su declaración del año 2010. Military state tax Método 2. Military state tax Opte por declarar el aumento en el valor de rescate como intereses en su declaración de impuestos cada año. Military state tax Tiene que utilizar el mismo método para declarar los intereses de todos los bonos de la serie EE, la serie E y la serie I. Military state tax Si no escoge utilizar el Método 2 al declarar el aumento del valor de rescate como intereses cada año, tiene que utilizar el Método 1. Military state tax    Si piensa convertir en efectivo sus bonos en el mismo año durante el cual pagará gastos por estudios de enseñanza superior, quizás le convenga utilizar el Método 1 porque podría excluir de sus ingresos los intereses de tales bonos. Military state tax Para saber cómo hacerlo, vea Programa de Bonos de Ahorro para Estudios , más adelante. Military state tax Cómo cambiarse del Método 1. Military state tax   Si desea cambiar su método para declarar los intereses de bonos de ahorro del Método 1 al Método 2, puede hacerlo sin pedirle permiso al IRS. Military state tax Para el año del cambio, tiene que declarar todos los intereses que se hayan acumulado hasta la fecha del cambio de método y que no se hayan declarado anteriormente para todos sus bonos. Military state tax   Una vez tomada la decisión de declarar los intereses cada año, tiene que seguir haciéndolo para todos los bonos de la serie EE, la serie E y la serie I más para aquellos bonos que obtenga en el futuro, a no ser que pida autorización para cambiar el método, tal como se explica a continuación. Military state tax Cómo cambiarse del Método 2. Military state tax   Para cambiarse del Método 2 al Método 1, tiene que pedirle autorización al IRS. Military state tax Dicha autorización se le otorgará automáticamente si le envía al IRS una declaración por escrito que incluya todos los siguientes requisitos: Ha escrito a mano o a máquina en la parte superior: “131”. Military state tax La declaración incluye su nombre y su número de Seguro Social escrito debajo de “131”. Military state tax La declaración incluye el año del cambio (la fecha de inicio y en la que finalice). Military state tax La declaración identifica los bonos de ahorro por los que pide autorización para este cambio. Military state tax La declaración incluye su acuerdo para: Declarar todos los intereses sobre todo bono adquirido durante o después del año de cambio cuando ocurre la enajenación, el rescate o vencimiento de dichos intereses, lo que suceda primero y Declarar todos los intereses sobre todo bono adquirido antes del año de cambio cuando ocurre la enajenación, el rescate o vencimiento de dichos intereses, lo que suceda primero a excepción de los intereses declarados en años tributarios anteriores. Military state tax   Tiene que adjuntar esa declaración a su declaración de impuestos del año del cambio, la cual tendrá que presentar para la fecha de vencimiento de la declaración (incluyendo prórrogas). Military state tax   Puede recibir una prórroga automática de hasta 6 meses desde la fecha de vencimiento para presentar su declaración de impuestos (excluyendo prórrogas) del año del cambio para poder presentar la declaración anterior, junto con una declaración de impuestos enmendada. Military state tax En la parte superior de la declaración, escriba a mano o a máquina “Filed pursuant to section 301. Military state tax 9100-2” (Se presenta de acuerdo con la sección 301. Military state tax 9100-2). Military state tax Para obtener dicha prórroga, usted tuvo que haber presentado su declaración de impuestos original para su fecha de vencimiento (incluyendo prórrogas). Military state tax    Para la fecha en que presente la declaración original junto con su declaración de impuestos, también tiene que enviar una copia firmada a la dirección siguiente:  Internal Revenue Service Attention: CC:IT&A (Automatic Rulings Branch) P. Military state tax O. Military state tax Box 7604 Benjamin Franklin Station Washington, DC 20044   Si utiliza un servicio de entrega privado, envíe la copia firmada a la dirección siguiente:  Internal Revenue Service Attention: CC:IT&A (Automatic Rulings Branch) Room 5336 1111 Constitution Avenue, NW  Washington, DC 20224   Puede pedir autorización para cambiarse del Método 2 al Método 1 presentando el Formulario 3115, Application for Change in Accounting Method (Solicitud de cambio en método contable), en inglés, en vez de presentar la declaración descrita anteriormente. Military state tax En tal caso, debe seguir las instrucciones para el formulario si desea un cambio automático. Military state tax No hay cargo administrativo. Military state tax Copropietarios. Military state tax   Si un bono de ahorro de los EE. Military state tax UU. Military state tax se emite a nombre de copropietarios, por ejemplo usted y su hijo o usted y su cónyuge, los intereses devengados del bono son tributables generalmente para el copropietario que haya comprado el bono. Military state tax Utilización de los fondos de uno de los copropietarios. Military state tax    Si utilizó sus propios fondos para comprar el bono, tiene que pagar el impuesto sobre los intereses devengados. Military state tax Esto es así aun cuando deje que el otro propietario rescate el bono y se quede con las ganancias. Military state tax En estas circunstancias, ya que el otro propietario recibirá un Formulario 1099-INT en el momento de rescatar el bono, éste tiene que facilitarle a usted otro Formulario 1099-INT indicando la cantidad de los intereses del bono imponibles en su caso. Military state tax El copropietario que rescata el bono es un “nominatario”. Military state tax Vea Nominee distributions (Distribuciones al nominatario), bajo How To Report Interest Income (Cómo se declaran los ingresos de intereses), en el capítulo 1 de la Publicación 550, en inglés, para más información sobre cómo un individuo que es nominatario declara ingresos de intereses que pertenecen a otro individuo. Military state tax Utilización de los fondos de ambos copropietarios. Military state tax   Si usted y el otro propietario comparten el costo de un bono, ambos tienen la responsabilidad de pagar impuestos sobre los intereses derivados en proporción con la cantidad que cada uno realmente pagó por el bono. Military state tax Bienes gananciales. Military state tax   Si usted y su cónyuge viven en un estado donde rigen las leyes de los bienes gananciales y tienen bonos que sean bienes gananciales, se considera que cada uno recibe la mitad del total de los intereses recibidos. Military state tax Si presentan declaraciones de impuestos por separado, por lo general, cada uno tiene que declarar la mitad de los intereses recibidos de sus bonos. Military state tax Para más información, vea la Publicación 555, en inglés. Military state tax Tabla 7-1. Military state tax   Estas reglas se muestran en la Tabla 7-1 . Military state tax Traspaso de la posesión legal. Military state tax   Si compró bonos de la serie E, serie EE o serie I con fondos que pertenecen únicamente a usted y decidió que se volvieran a emitir sólo a nombre de su copropietario o del beneficiario, tiene que incluir todos los intereses devengados sobre esos bonos en su ingreso bruto para el año de la reemisión, con tal de que ninguna parte haya sido declarada anteriormente. Military state tax No obstante, si los bonos se volvieron a emitir sólo a nombre suyo, no tiene que declarar los intereses que se hayan acumulado en ese momento. Military state tax   Esta regla también corresponde cuando se traspasan los bonos (que no sean bonos considerados bienes gananciales) entre los cónyuges o como consecuencia de un fallo de divorcio. Military state tax Compra conjunta. Military state tax   Si usted y el otro propietario aportan fondos para obtener bonos de la serie E, serie EE o serie I conjuntamente y luego deciden que se vuelvan a emitir sólo a nombre de su copropietario, tiene que incluir en su ingreso bruto para el año de la reemisión la parte de usted de los intereses de aquellos bonos que no haya declarado anteriormente. Military state tax En el momento de la reemisión, el ex copropietario no tiene que declarar en el ingreso bruto la parte de él o ella de los intereses devengados que no se declararon antes del traspaso. Military state tax Sin embargo, esos intereses, así como todos los demás intereses que se devenguen después de la reemisión, constituyen ingreso tributable del ex copropietario. Military state tax   Esta regla para declarar los ingresos también es aplicable cuando se vuelven a emitir los bonos a nombre del copropietario anterior y a nombre de un copropietario nuevo. Military state tax Sin embargo, el nuevo copropietario sólo debe declarar su parte de los intereses devengados después de la reemisión. Military state tax   Si los bonos que usted y el copropietario compraron conjuntamente se emiten de nuevo a cada uno por separado según la misma proporción correspondiente a su precio de compra, ninguno tiene que declarar en ese momento los intereses devengados antes de la reemisión de los bonos. Military state tax    Tabla 7-1. Military state tax ¿Quién Paga el Impuesto sobre los Intereses de Bonos de Ahorro de los Estados Unidos? SI. Military state tax . Military state tax . Military state tax ENTONCES tiene(n) que declarar los intereses. Military state tax . Military state tax . Military state tax usted compra un bono a nombre suyo y a nombre de otro individuo como copropietarios, utilizando fondos que sólo pertenecían a usted usted. Military state tax usted compra un bono a nombre de otro individuo, el cual es propietario único del bono el individuo para el cual usted ha comprado el bono. Military state tax usted y otro individuo compran un bono como copropietarios, utilizando fondos que los dos contribuyen al precio de compra tanto usted como el otro copropietario, en proporción a la cantidad que cada uno pagó por el bono. Military state tax usted y su cónyuge, que viven en un estado donde rigen las leyes de los bienes gananciales, compran un bono que se considera bienes gananciales usted y su cónyuge. Military state tax Si presentan declaraciones por separado, tanto usted como su cónyuge, por lo general, deben declarar la mitad de los intereses recibidos. Military state tax Ejemplo 1. Military state tax Tanto usted como su cónyuge gastaron cantidades iguales para comprar un bono de la serie EE que valía $1,000. Military state tax Se les emitió el bono como copropietarios. Military state tax Los dos decidieron posponer la declaración de los intereses derivados del bono. Military state tax Luego, decidieron que se emitiera el bono de nuevo como dos bonos cuyo valor individual es de $500, uno a nombre suyo y el otro a nombre de su cónyuge. Military state tax Ninguno de ustedes tiene que declarar en ese momento los intereses devengados hasta la fecha de la reemisión de los bonos. Military state tax Ejemplo 2. Military state tax Compró un bono de la serie EE por $1,000, utilizando únicamente sus propios fondos. Military state tax El bono se les emitió a usted y a su cónyuge como copropietarios. Military state tax Los dos decidieron posponer la declaración de los intereses derivados del bono. Military state tax Luego, decidieron que se emitiera el bono de nuevo como dos bonos cuyo valor individual es de $500, uno a nombre suyo y el otro a nombre de su cónyuge. Military state tax Tiene que declarar la mitad de los intereses devengados hasta la fecha de la reemisión de los bonos. Military state tax Traspaso de bonos a un fideicomiso. Military state tax   Si tiene bonos de la serie E, serie EE o serie I pero los traspasa a un fideicomiso durante el año, renunciando todos sus derechos de propiedad, tendrá que incluir en sus ingresos para tal año los intereses devengados hasta la fecha del traspaso (si no los declaró anteriormente). Military state tax No obstante, si se le considera a usted dueño del fideicomiso y si el aumento del valor antes y después del traspaso sigue siendo tributable para usted, podrá continuar difiriendo la declaración de los intereses obtenidos durante cada año. Military state tax Tiene que incluir el total de los intereses en sus ingresos del año en el cual decida canjear los bonos por efectivo o enajenarlos o en el año durante el cual los bonos por fin venzan, lo que ocurra primero. Military state tax   Las mismas reglas se aplican en el caso de intereses de los bonos de la serie E o de la serie EE no declarados anteriormente si el traspaso a un fideicomiso tuvo que ver con bonos de la serie HH o de la serie H que haya adquirido al cambiar dichos bonos por otros de la serie E o de la serie EE. Military state tax Vea Cambio de los bonos de ahorro , más adelante. Military state tax Personas que han fallecido. Military state tax   El modo de declarar el ingreso de intereses de los bonos de la serie E, serie EE o serie I, después del fallecimiento del dueño (el difunto), depende de los métodos contables y de la declaración de ingresos que éste haya utilizado anteriormente. Military state tax Esta situación se explica en el capítulo 1 de la Publicación 550, en inglés. Military state tax Cambio de los bonos de ahorro. Military state tax   Si postergó la declaración de los intereses de sus bonos de la serie E o de la serie EE, significa que no reconoció ingresos tributables cuando cambió esos bonos por otros de la serie HH o de la serie H, a no ser que haya recibido dinero en efectivo como parte del cambio. Military state tax (No se permite cambiar los bonos de la serie I por bonos de la serie HH. Military state tax Después del 31 de agosto del año 2004, ya no puede cambiar otras series de bonos por los de la serie HH). Military state tax Todo efectivo que reciba se considera ingresos hasta la cantidad de los intereses devengados sobre los bonos cambiados. Military state tax Al vencer sus bonos de la serie HH o de la serie H o al enajenarlos antes de su vencimiento, tiene que declarar como intereses la diferencia entre el valor de rescate y su costo original. Military state tax El costo de los bonos es la suma de la cantidad que pagó al cambiar los bonos de la serie EE o de la serie E en cuestión, más toda cantidad que haya tenido que pagar cuando se efectuó el cambio. Military state tax Ejemplo. Military state tax Usted cambió bonos de la serie EE (sobre los cuales optó por posponer la declaración de los intereses) por otros de la serie HH, cuyo valor es de $2,500, más $223 en efectivo. Military state tax Declaró los $223 como ingresos tributables en su declaración de impuestos. Military state tax Para la fecha del cambio, los bonos de la serie EE habían acumulado intereses de $523 y tenían un valor de rescate de $2,723. Military state tax Usted guarda los bonos de la serie HH hasta la fecha de su vencimiento en que recibirá $2,500. Military state tax Tiene que declarar $300 como ingresos de intereses en el año de vencimiento. Military state tax Esos $300 representan la diferencia entre el valor de rescate ($2,500) y el costo de los bonos ($2,200), o sea, la cantidad que pagó por adquirir los bonos de la serie EE. Military state tax (Es también la diferencia entre los intereses acumulados de $523 sobre los bonos de la serie EE y los $223 en efectivo recibidos en el cambio). Military state tax Opción de declarar los intereses en el año del cambio. Military state tax   Usted podría optar por tratar todos los intereses acumulados anteriormente, no declarados, de los bonos de la serie E o de la serie EE que se cambiaron por otros de la serie HH como ingresos en el año en que se efectuó el cambio. Military state tax Si opta por lo anterior, esto se considerará un cambio del Método 1. Military state tax Vea Cómo cambiarse del Método 1 bajo Bonos de la serie EE y de la serie I, explicado anteriormente. Military state tax Formulario 1099-INT para la declaración de los intereses de los bonos de ahorros de los Estados Unidos. Military state tax   Cada vez que convierte un bono en dinero efectivo, el banco u otro pagador que lo rescate tiene que darle el Formulario 1099-INT si la parte del pago correspondiente a los intereses recibidos es $10 o más. Military state tax El recuadro 3 del Formulario 1099-INT debe mostrar los intereses como la diferencia entre la cantidad que recibió y la cantidad que se pagó por el bono. Military state tax No obstante, el Formulario 1099-INT puede mostrar una cantidad mayor de los intereses de lo que tiene que incluir en su declaración de impuestos sobre los ingresos. Military state tax Por ejemplo, esto puede ocurrir si alguna de las condiciones siguientes es aplicable: Usted declaró el aumento al valor de rescate durante cada año. Military state tax La cantidad de intereses indicada en el Formulario 1099-INT no será reducida por las cantidades que haya incluido en su ingreso en años anteriores. Military state tax Usted recibió el bono de un difunto. Military state tax La cantidad de intereses indicada en el Formulario 1099-INT no se verá reducida por los intereses declarados por el difunto antes de su fallecimiento, ni en la declaración final del difunto, ni por los herederos en la declaración de impuestos sobre la herencia. Military state tax Se traspasó la posesión del bono. Military state tax La cantidad de intereses indicada en el Formulario 1099-INT no se reducirá por intereses acumulados antes del traspaso. Military state tax A usted lo nombraron copropietario y el otro propietario contribuyó fondos para comprar el bono. Military state tax La cantidad de los intereses indicada en el Formulario 1099-INT no será reducida por las cantidades que haya recibido como nominatario por el otro copropietario. Military state tax (Vea Copropietarios , anteriormente en este capítulo, para más información acerca de los requisitos sobre cómo declarar ingresos de intereses). Military state tax Usted recibió el bono de una distribución tributable de un plan de jubilación o un plan de participación en las ganancias. Military state tax La cantidad de intereses indicada en el Formulario 1099-INT no será reducida por la parte de intereses de la cantidad tributable como distribución del plan y no tributable como intereses. Military state tax (Esta cantidad suele aparecer para el año de la distribución en el Formulario 1099-R, Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. Military state tax (Distribuciones de planes de pensión, anualidades, jubilación o participación en las ganancias, arreglos IRA, contratos de seguros, etc. Military state tax ), en inglés). Military state tax   Para más información sobre cómo incluir la cantidad correcta de intereses en su declaración de impuestos, vea Cómo se Declaran los Ingresos de Intereses , más adelante. Military state tax En la Publicación 550, en inglés, se incluyen ejemplos sobre cómo se declaran esas cantidades. Military state tax    Los intereses recibidos de los bonos de ahorro de los EE. Military state tax UU. Military state tax están exentos de los impuestos estatales y locales. Military state tax El recuadro 3 del Formulario 1099-INT que usted reciba indicará la cantidad de los intereses por bonos de ahorros de los Estados Unidos. Military state tax Programa de Bonos de Ahorro para Estudios Quizás pueda excluir de sus ingresos el total o una parte de los intereses que reciba al rescatar ciertos bonos de ahorro de los EE. Military state tax UU. Military state tax calificados durante el año si pagó gastos de estudios de enseñanza superior calificados durante el mismo año. Military state tax Dicha exclusión se llama Education Savings Bond Program (Programa de bonos de ahorro para estudios). Military state tax Si su estado civil para la declaración es casado que presenta una declaración por separado, no reúne los requisitos para tal exclusión. Military state tax Formulario 8815. Military state tax   Utilice el Formulario 8815, en inglés, para calcular la cantidad de su exclusión. Military state tax Incluya este formulario con su Formulario 1040 o Formulario 1040A. Military state tax Bonos de ahorro calificados de los Estados Unidos. Military state tax   Un bono de ahorro calificado de los EE. Military state tax UU. Military state tax es aquel bono de la serie EE emitido después de 1989 o un bono de la serie I. Military state tax Se tiene que haber emitido a nombre suyo (propietario único) o a nombre suyo y el de su cónyuge (copropietarios). Military state tax Usted tiene que haber cumplido al menos 24 años de edad antes de la fecha de emisión del bono. Military state tax Por ejemplo, un bono que haya comprado un padre y haya sido emitido a nombre de su hijo menor de 24 años de edad, no reúne los requisitos para ser excluido por el padre ni tampoco por el hijo. Military state tax    La fecha en que se emite un bono puede ser anterior a la fecha de compra del bono porque la fecha de emisión asignada a un bono corresponde al primer día del mes durante el cual se compra. Military state tax Beneficiario. Military state tax   Puede nombrar a cualquier individuo (incluyendo un hijo menor de edad) para que sea beneficiario del bono. Military state tax Verificación del IRS. Military state tax   Si declara la exclusión, el IRS lo verificará utilizando información sobre el rescate de bonos obtenido del Departamento del Tesoro. Military state tax Gastos calificados. Military state tax   Los gastos de estudios de enseñanza superior calificados son matrícula y otros gastos necesarios para que usted, su cónyuge o su dependiente (por el cual usted puede reclamar una exención) asista a una institución de enseñanza superior que reúna los requisitos. Military state tax   En los gastos calificados se incluye toda aportación que haga a un programa de matrícula calificada o a una cuenta de ahorro para estudios Coverdell. Military state tax   En los gastos calificados no se incluyen los de vivienda y alimentación, ni gastos de cursos de actividades deportivas, recreativas o de pasatiempo que no formen parte de un programa de estudios para obtener un título o certificado. Military state tax Instituciones de enseñanza superior que reúnen los requisitos. Military state tax   En esta clase de institución se incluyen la mayoría de las universidades públicas, particulares y sin fines de lucro, así como colegios universitarios (colleges) y escuelas vocacionales acreditados y que cumplan las condiciones para participar en programas de asistencia financiera de estudios del Departamento de Educación de Estados Unidos. Military state tax Reducción por ciertos beneficios. Military state tax   Usted tiene que restar de sus gastos de estudios de enseñanza superior calificados los siguientes beneficios exentos de impuestos: La parte exenta de impuestos por becas de estudios y de desarrollo profesional (vea Becas de estudios y becas de desarrollo profesional en el capítulo 12). Military state tax Gastos que se utilizaron para calcular la parte exenta de impuestos de distribuciones de una cuenta de ahorros para estudios Coverdell ESA. Military state tax Gastos que se utilizaron para calcular la parte exenta de impuestos de distribuciones de un programa calificado de matrícula. Military state tax Todo pago exento de impuestos (que no sea regalo o herencia) recibido para gastos educativos, tales como: Beneficios de asistencia educativa para veteranos, Reducciones de matrícula calificada o Beneficios de asistencia educativa facilitados por su empleador. Military state tax Todo gasto que se haya utilizado al calcular el crédito tributario de oportunidad para los estadounidenses y el crédito vitalicio de aprendizaje. Military state tax Cantidad excluible. Military state tax   Si el total de los ingresos recibidos (capital e intereses) de bonos de ahorro calificados de los EE. Military state tax UU. Military state tax que rescató durante el año no excede de sus gastos de estudios de enseñanza superior calificados ajustados para ese año, quizás pueda excluir el total de los intereses que haya recibido. Military state tax Si los ingresos superan sus gastos de estudios para el año, quizás pueda excluir sólo una parte de tales intereses. Military state tax   Para determinar la cantidad que se puede excluir, multiplique la parte correspondiente a los intereses de los ingresos por una fracción. Military state tax El numerador de la fracción es el total de los gastos por estudios de enseñanza superior calificados que pagó durante el año. Military state tax El denominador es el total de los ingresos que recibió durante el año. Military state tax Ejemplo. Military state tax En febrero del año 2013, Marcos y Juana, un matrimonio, cobraron un bono de ahorro de los EE. Military state tax UU. Military state tax de la serie EE que compraron en abril de 1997. Military state tax Recibieron ingresos de $8,372 que constan de $5,000 por concepto de capital y $3,372 por intereses. Military state tax Durante el año 2013, gastaron $4,000 por la matrícula de su hija en una universidad. Military state tax Ellos no reclaman ningún crédito educativo por esa cantidad y la hija no recibió ninguna asistencia monetaria exenta de impuestos para sufragar los gastos educativos. Military state tax Ellos pueden excluir $1,611 ($3,372 x ($4,000 ÷ $8,372)) de intereses para el año 2013. Military state tax Tienen que pagar impuestos sobre los intereses restantes de $1,761 ($3,372 − $1,611). Military state tax Límite del ingreso bruto ajustado modificado. Military state tax   La exclusión de intereses estará limitada si su ingreso bruto ajustado modificado es de: $74,700 a $89,700 para los contribuyentes cuyo estado civil para la declaración de impuestos es soltero o cabeza de familia y $112,050 a $142,050 para los contribuyentes casados que presentan una declaración conjunta o para un viudo que reúne los requisitos con hijo dependiente. Military state tax No puede tomar la exclusión de intereses si su ingreso bruto ajustado modificado equivale al límite máximo para su estado civil o supera dicho límite. Military state tax   El ingreso bruto ajustado modificado, para propósitos de la exclusión, es el ingreso bruto ajustado (línea 37 del Formulario 1040 o línea 21 del Formulario 1040A) determinado antes de considerar la exclusión de intereses y ajustado por restituir cualesquiera de los siguientes: Exclusión de ingresos devengados de fuentes en el extranjero, Exclusión o deducción de asignaciones por alojamiento en el extranjero, Exclusión de ingresos para residentes bona fide de la Samoa Estadounidense, Exclusión de ingresos de fuentes en Puerto Rico, Exclusión de beneficios de adopción recibidos de acuerdo con un programa de asistencia de adopción del empleador, Deducción por matrícula y gastos relacionados con los estudios, Deducción de los intereses sobre un préstamo de estudios y Deducción por actividades nacionales de producción. Military state tax   Utilice la hoja de trabajo para la línea 9 en las instrucciones del Formulario 8815, disponibles en inglés, para calcular su ingreso bruto ajustado modificado. Military state tax Si reclama cualquiera de las exclusiones o deducciones de las partidas enumeradas anteriormente (menos 6, 7 y 8), sume la cantidad de la exclusión o deducción (con excepción de las partidas 6, 7 y 8) a la cantidad de la línea 5 de la hoja de trabajo. Military state tax Luego, anote el total en la línea 9 del Formulario 8815 como su ingreso bruto ajustado modificado. Military state tax   Si incurrió en gastos de intereses de inversión para poder recibir regalías y otros ingresos de inversiones, vea Education Savings Bond Program (Programa de bonos de ahorro utilizados para propósitos educativos), en el capítulo 1 de la Publicación 550, en inglés. Military state tax Documentación. Military state tax Si declara la exclusión de intereses, tiene que mantener un registro por escrito de los bonos de ahorro de los EE. Military state tax UU. Military state tax calificados que usted rescató. Military state tax Ese registro tiene que incluir el número de serie, fecha de emisión, valor nominal y el total de los ingresos recibidos (capital e intereses) de cada bono. Military state tax Puede utilizar el Formulario 8818, en inglés, para documentar dicha información. Military state tax Además, debe guardar facturas, recibos, cheques cancelados u otra documentación para comprobar los gastos por estudios de enseñanza superior calificados que haya pagado durante el año. Military state tax Letras, Pagarés y Bonos del Tesoro de los Estados Unidos Las letras, pagarés y bonos del Tesoro de los EE. Military state tax UU. Military state tax son títulos de deudas directas (obligaciones) del gobierno federal de los Estados Unidos. Military state tax Tributación de los intereses. Military state tax   Los ingresos de intereses que se reciben de letras, pagarés y bonos del Tesoro de los EE. Military state tax UU. Military state tax están sujetos al impuesto federal sobre los ingresos; sin embargo, está exento de todo impuesto estatal y local sobre los ingresos. Military state tax Deberá recibir el Formulario 1099-INT en el cual se muestra (en el recuadro 3) la cantidad de intereses que se le pagaron por el año. Military state tax   Los pagos de capital e intereses serán acreditados, por regla general, a su cuenta corriente o de ahorros designada mediante depósito directo utilizando el sistema Treasury Direct®. Military state tax Letras del Tesoro. Military state tax   Estas letras suelen tener un período de vencimiento de 4, 13, 26 ó 52 semanas. Military state tax Generalmente, se emiten con descuento por la cantidad de $100 y múltiplos de $100. Military state tax La diferencia entre el valor descontado que paga por las letras y el valor nominal que recibirá al vencimiento de éstas se considera ingreso de intereses. Military state tax Por lo general, usted declara este ingreso de intereses cuando se le pagan las letras en la fecha de vencimiento. Military state tax Si usted pagó una prima por una letra (una cantidad mayor que el valor nominal), generalmente declara la prima como una deducción conforme a la sección 171 cuando se le paga la letra en la fecha de vencimiento. Military state tax Pagarés y bonos del Tesoro. Military state tax   Los pagarés del Tesoro tienen períodos de vencimiento de más de 1 año y de hasta 10 años. Military state tax Los bonos del Tesoro tienen períodos de vencimiento de más de 10 años. Military state tax Tanto los pagarés como los bonos del Tesoro suelen emitirse en denominaciones de $100 hasta $1 millón y pagar intereses cada 6 meses. Military state tax Por lo general, declarará dichos intereses en el año en que se le pagaron. Military state tax Para más información, vea U. Military state tax S. Military state tax Treasury Bills, Notes, and Bonds (Letras, pagarés y bonos del Tesoro de los Estados Unidos), en el capítulo 1 de la Publicación 550, en inglés. Military state tax Para información adicional sobre los pagarés y bonos del Tesoro, escriba a la dirección siguiente:    Bureau of the Public Debt P. Military state tax O. Military state tax Box 7015 Parkersburg, WV 26106-7015 O puede visitar la siguiente página en Internet: www. Military state tax treasurydirect. Military state tax gov/indiv/indiv. Military state tax htm, en inglés. Military state tax Para más información sobre los bonos de ahorro de la serie EE, la serie I o la serie HH, vea Bonos de Ahorro de los Estados Unidos , anteriormente en este capítulo. Military state tax Valores del Tesoro protegidos de la inflación (TIPS, por sus siglas en inglés). Military state tax   Estos valores pagan intereses dos veces al año a una tasa fija, basada en una cantidad de capital que se ajusta para considerar los efectos de la inflación y deflación. Military state tax Para saber cómo se tratan esos valores para propósitos tributarios, vea Inflation-Indexed Debt Instruments (Instrumentos de la deuda indexados según la inflación), bajo Original Issue Discount (OID) (Descuento de la emisión original (OID)) en la Publicación 550, en inglés. Military state tax Bonos que se Venden Entre las Fechas de Pago de los Intereses Si usted vende un bono entre las fechas de pago de los intereses, una parte del precio de venta se considera intereses acumulados hasta la fecha de venta. Military state tax Tiene que declarar dicha parte del precio de venta como ingreso de intereses para el año de la venta. Military state tax Si compra un bono entre las fechas de pago de los intereses, una parte del precio de compra se considera intereses acumulados antes de la fecha de compra. Military state tax Cuando se le paguen dichos intereses, tiene que tratarlos como devolución de su inversión de capital, en lugar de ingresos de intereses, mediante la reducción de su base en el bono. Military state tax Vea Accrued interest on bonds (Intereses acumulados sobre los bonos), bajo How To Report Interest Income (Cómo se declaran los ingresos de intereses), en el capítulo 1 de la Publicación 550, en inglés, para más detalles sobre cómo se declara el pago. Military state tax Seguros Los pagos de seguro de vida que recibe como beneficiario de la persona asegurada no suelen ser tributables. Military state tax Sin embargo, si usted recibe los pagos a plazos, tendrá que declarar normalmente una parte de cada plazo como ingreso de intereses. Military state tax Para más información sobre los pagos de seguros recibidos a plazos, vea la Publicación 525, Taxable and Nontaxable Income (Ingreso tributable y no tributable), en inglés. Military state tax Anualidad. Military state tax   Si compra una anualidad con los ingresos recibidos de una póliza de seguro de vida, los pagos de anualidad que reciba estarán sujetos a impuestos como ingreso de pensión y anualidad de un plan no calificado, no como ingreso de intereses. Military state tax Vea el capítulo 10 para más información sobre el ingreso de pensiones y anualidades de planes no calificados. Military state tax Obligaciones del Gobierno Estatal o Local Los intereses sobre un bono usado para financiar operaciones del gobierno no suelen ser tributables si dicho bono se emite por un estado, el Distrito de Columbia, una posesión (territorio no autónomo) de los Estados Unidos o cualesquiera de sus subdivisiones políticas. Military state tax Los bonos que se emitieron después de 1982 (esto incluye los bonos para el desarrollo económico de tribus emitidos después del 17 de febrero de 2009) por un gobierno de una tribu de indios estadounidenses se tratan como si fueran emitidos por un estado. Military state tax Los intereses sobre dichos bonos suelen estar exentos de impuestos si los bonos son parte de una emisión de la cual sustancialmente todas las ganancias se han de usar en el desempeño de alguna función esencial del gobierno. Military state tax Para obtener información acerca de los bonos garantizados federalmente, bonos de ingresos hipotecarios, bonos de arbitraje, bonos calificados del crédito tributario, bonos para el financiamiento de proyectos parcialmente privados y los bonos “Build America” (Construir en América), vea State or Local Government Obligations (Obligaciones del gobierno estatal o local), en el capítulo 1 de la Publicación 550, en inglés. Military state tax Requisito de declarar información. Military state tax   Si tiene que presentar una declaración de impuestos, se le requiere que muestre en dicha declaración todos los intereses exentos resultantes de los bonos mencionados anteriormente que haya recibido. Military state tax Esto es sólo un requisito para la decla
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The Military State Tax

Military state tax Publication 541 - Main Content Table of Contents Forming a PartnershipOrganizations Classified as Partnerships Family Partnership Partnership Agreement Terminating a PartnershipIRS e-file (Electronic Filing) Exclusion From Partnership Rules Partnership Return (Form 1065) Partnership DistributionsSubstantially appreciated inventory items. Military state tax Partner's Gain or Loss Partner's Basis for Distributed Property Transactions Between Partnership and PartnersGuaranteed Payments Sale or Exchange of Property Contribution of Property Contribution of Services Basis of Partner's InterestAdjusted Basis Effect of Partnership Liabilities Disposition of Partner's InterestSale, Exchange, or Other Transfer Payments for Unrealized Receivables and Inventory Items Liquidation at Partner's Retirement or Death Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA)Partnership Item. Military state tax Small Partnerships and the Small Partnership Exception Small Partnership TEFRA Election Role of Tax Matters Partner (TMP) in TEFRA Proceedings Statute of Limitations and TEFRA Amended Returns and Administrative Adjustment Requests (AARs) How To Get Tax Help Forming a Partnership The following sections contain general information about partnerships. Military state tax Organizations Classified as Partnerships An unincorporated organization with two or more members is generally classified as a partnership for federal tax purposes if its members carry on a trade, business, financial operation, or venture and divide its profits. Military state tax However, a joint undertaking merely to share expenses is not a partnership. Military state tax For example, co-ownership of property maintained and rented or leased is not a partnership unless the co-owners provide services to the tenants. Military state tax The rules you must use to determine whether an organization is classified as a partnership changed for organizations formed after 1996. Military state tax Organizations formed after 1996. Military state tax   An organization formed after 1996 is classified as a partnership for federal tax purposes if it has two or more members and it is none of the following. Military state tax An organization formed under a federal or state law that refers to it as incorporated or as a corporation, body corporate, or body politic. Military state tax An organization formed under a state law that refers to it as a joint-stock company or joint-stock association. Military state tax An insurance company. Military state tax Certain banks. Military state tax An organization wholly owned by a state, local, or foreign government. Military state tax An organization specifically required to be taxed as a corporation by the Internal Revenue Code (for example, certain publicly traded partnerships). Military state tax Certain foreign organizations identified in section 301. Military state tax 7701-2(b)(8) of the regulations. Military state tax A tax-exempt organization. Military state tax A real estate investment trust. Military state tax An organization classified as a trust under section 301. Military state tax 7701-4 of the regulations or otherwise subject to special treatment under the Internal Revenue Code. Military state tax Any other organization that elects to be classified as a corporation by filing Form 8832. Military state tax For more information, see the instructions for Form 8832. Military state tax Limited liability company. Military state tax   A limited liability company (LLC) is an entity formed under state law by filing articles of organization as an LLC. Military state tax Unlike a partnership, none of the members of an LLC are personally liable for its debts. Military state tax An LLC may be classified for federal income tax purposes as either a partnership, a corporation, or an entity disregarded as an entity separate from its owner by applying the rules in Regulations section 301. Military state tax 7701-3. Military state tax See Form 8832 and section 301. Military state tax 7701-3 of the regulations for more details. Military state tax A domestic LLC with at least two members that does not file Form 8832 is classified as a partnership for federal income tax purposes. Military state tax Organizations formed before 1997. Military state tax   An organization formed before 1997 and classified as a partnership under the old rules will generally continue to be classified as a partnership as long as the organization has at least two members and does not elect to be classified as a corporation by filing Form 8832. Military state tax Community property. Military state tax    Spouses who own a qualified entity (defined later) can choose to classify the entity as a partnership for federal tax purposes by filing the appropriate partnership tax returns. Military state tax They can choose to classify the entity as a sole proprietorship by filing a Schedule C (Form 1040) listing one spouse as the sole proprietor. Military state tax A change in reporting position will be treated for federal tax purposes as a conversion of the entity. Military state tax   A qualified entity is a business entity that meets all the following requirements. Military state tax The business entity is wholly owned by spouses as community property under the laws of a state, a foreign country, or a possession of the United States. Military state tax No person other than one or both spouses would be considered an owner for federal tax purposes. Military state tax The business entity is not treated as a corporation. Military state tax   For more information about community property, see Publication 555, Community Property. Military state tax Publication 555 discusses the community property laws of Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin. Military state tax Family Partnership Members of a family can be partners. Military state tax However, family members (or any other person) will be recognized as partners only if one of the following requirements is met. Military state tax If capital is a material income-producing factor, they acquired their capital interest in a bona fide transaction (even if by gift or purchase from another family member), actually own the partnership interest, and actually control the interest. Military state tax If capital is not a material income-producing factor, they joined together in good faith to conduct a business. Military state tax They agreed that contributions of each entitle them to a share in the profits, and some capital or service has been (or is) provided by each partner. Military state tax Capital is material. Military state tax   Capital is a material income-producing factor if a substantial part of the gross income of the business comes from the use of capital. Military state tax Capital is ordinarily an income-producing factor if the operation of the business requires substantial inventories or investments in plants, machinery, or equipment. Military state tax Capital is not material. Military state tax   In general, capital is not a material income-producing factor if the income of the business consists principally of fees, commissions, or other compensation for personal services performed by members or employees of the partnership. Military state tax Capital interest. Military state tax   A capital interest in a partnership is an interest in its assets that is distributable to the owner of the interest in either of the following situations. Military state tax The owner withdraws from the partnership. Military state tax The partnership liquidates. Military state tax   The mere right to share in earnings and profits is not a capital interest in the partnership. Military state tax Gift of capital interest. Military state tax   If a family member (or any other person) receives a gift of a capital interest in a partnership in which capital is a material income-producing factor, the donee's distributive share of partnership income is subject to both of the following restrictions. Military state tax It must be figured by reducing the partnership income by reasonable compensation for services the donor renders to the partnership. Military state tax The donee's distributive share of partnership income attributable to donated capital must not be proportionately greater than the donor's distributive share attributable to the donor's capital. Military state tax Purchase. Military state tax   For purposes of determining a partner's distributive share, an interest purchased by one family member from another family member is considered a gift from the seller. Military state tax The fair market value of the purchased interest is considered donated capital. Military state tax For this purpose, members of a family include only spouses, ancestors, and lineal descendants (or a trust for the primary benefit of those persons). Military state tax Example. Military state tax A father sold 50% of his business to his son. Military state tax The resulting partnership had a profit of $60,000. Military state tax Capital is a material income-producing factor. Military state tax The father performed services worth $24,000, which is reasonable compensation, and the son performed no services. Military state tax The $24,000 must be allocated to the father as compensation. Military state tax Of the remaining $36,000 of profit due to capital, at least 50%, or $18,000, must be allocated to the father since he owns a 50% capital interest. Military state tax The son's share of partnership profit cannot be more than $18,000. Military state tax Business owned and operated by spouses. Military state tax   If spouses carry on a business together and share in the profits and losses, they may be partners whether or not they have a formal partnership agreement. Military state tax If so, they should report income or loss from the business on Form 1065. Military state tax They should not report the income on a Schedule C (Form 1040) in the name of one spouse as a sole proprietor. Military state tax However, the spouses can elect not to treat the joint venture as a partnership by making a Qualified Joint Venture Election. Military state tax Qualified Joint Venture Election. Military state tax   A "qualified joint venture," whose only members are spouses filing a joint return, can elect not to be treated as a partnership for federal tax purposes. Military state tax A qualified joint venture conducts a trade or business where: the only members of the joint venture are spouses filing jointly; both spouses elect not to be treated as a partnership; both spouses materially participate in the trade or business (see Passive Activity Limitations in the Instructions for Form 1065 for a definition of material participation); and the business is co-owned by both spouses and is not held in the name of a state law entity such as a partnership or LLC. Military state tax   Under this election, a qualified joint venture conducted by spouses who file a joint return is not treated as a partnership for federal tax purposes and therefore does not have a Form 1065 filing requirement. Military state tax All items of income, gain, deduction, loss, and credit are divided between the spouses based on their respective interests in the venture. Military state tax Each spouse takes into account his or her respective share of these items as a sole proprietor. Military state tax Each spouse would account for his or her respective share on the appropriate form, such as Schedule C (Form 1040). Military state tax For purposes of determining net earnings from self-employment, each spouse's share of income or loss from a qualified joint venture is taken into account just as it is for federal income tax purposes (i. Military state tax e. Military state tax , based on their respective interests in the venture). Military state tax   If the spouses do not make the election to treat their respective interests in the joint venture as sole proprietorships, each spouse should carry his or her share of the partnership income or loss from Schedule K-1 (Form 1065) to their joint or separate Form(s) 1040. Military state tax Each spouse should include his or her respective share of self-employment income on a separate Schedule SE (Form 1040), Self-Employment Tax. Military state tax   This generally does not increase the total tax on the return, but it does give each spouse credit for social security earnings on which retirement benefits are based. Military state tax However, this may not be true if either spouse exceeds the social security tax limitation. Military state tax   For more information on qualified joint ventures, go to IRS. Military state tax gov, enter “Election for Qualified Joint Ventures” in the search box and select the link reading “Election for Husband and Wife Unincorporated Businesses. Military state tax ” Partnership Agreement The partnership agreement includes the original agreement and any modifications. Military state tax The modifications must be agreed to by all partners or adopted in any other manner provided by the partnership agreement. Military state tax The agreement or modifications can be oral or written. Military state tax Partners can modify the partnership agreement for a particular tax year after the close of the year but not later than the date for filing the partnership return for that year. Military state tax This filing date does not include any extension of time. Military state tax If the partnership agreement or any modification is silent on any matter, the provisions of local law are treated as part of the agreement. Military state tax Terminating a Partnership A partnership terminates when one of the following events takes place. Military state tax All its operations are discontinued and no part of any business, financial operation, or venture is continued by any of its partners in a partnership. Military state tax At least 50% of the total interest in partnership capital and profits is sold or exchanged within a 12-month period, including a sale or exchange to another partner. Military state tax Unlike other partnerships, an electing large partnership does not terminate on the sale or exchange of 50% or more of the partnership interests within a 12-month period. Military state tax See section 1. Military state tax 708-1(b) of the regulations for more information on the termination of a partnership. Military state tax For special rules that apply to a merger, consolidation, or division of a partnership, see sections 1. Military state tax 708-1(c) and 1. Military state tax 708-1(d) of the regulations. Military state tax Date of termination. Military state tax   The partnership's tax year ends on the date of termination. Military state tax For the event described in (1), above, the date of termination is the date the partnership completes the winding up of its affairs. Military state tax For the event described in (2), above, the date of termination is the date of the sale or exchange of a partnership interest that, by itself or together with other sales or exchanges in the preceding 12 months, transfers an interest of 50% or more in both capital and profits. Military state tax Short period return. Military state tax   If a partnership is terminated before the end of what would otherwise be its tax year, Form 1065 must be filed for the short period, which is the period from the beginning of the tax year through the date of termination. Military state tax The return is due the 15th day of the fourth month following the date of termination. Military state tax See Partnership Return (Form 1065), later, for information about filing Form 1065. Military state tax Conversion of partnership into limited liability company (LLC). Military state tax   The conversion of a partnership into an LLC classified as a partnership for federal tax purposes does not terminate the partnership. Military state tax The conversion is not a sale, exchange, or liquidation of any partnership interest; the partnership's tax year does not close; and the LLC can continue to use the partnership's taxpayer identification number. Military state tax   However, the conversion may change some of the partners' bases in their partnership interests if the partnership has recourse liabilities that become nonrecourse liabilities. Military state tax Because the partners share recourse and nonrecourse liabilities differently, their bases must be adjusted to reflect the new sharing ratios. Military state tax If a decrease in a partner's share of liabilities exceeds the partner's basis, he or she must recognize gain on the excess. Military state tax For more information, see Effect of Partnership Liabilities under Basis of Partner's Interest, later. Military state tax   The same rules apply if an LLC classified as a partnership is converted into a partnership. Military state tax IRS e-file (Electronic Filing) Please click here for the text description of the image. Military state tax e-file Certain partnerships with more than 100 partners are required to file Form 1065, Schedules K-1, and related forms and schedules electronically (e-file). Military state tax Other partnerships generally have the option to file electronically. Military state tax For details about IRS e-file, see the Form 1065 instructions. Military state tax Exclusion From Partnership Rules Certain partnerships that do not actively conduct a business can choose to be completely or partially excluded from being treated as partnerships for federal income tax purposes. Military state tax All the partners must agree to make the choice, and the partners must be able to compute their own taxable income without computing the partnership's income. Military state tax However, the partners are not exempt from the rule that limits a partner's distributive share of partnership loss to the adjusted basis of the partner's partnership interest. Military state tax Nor are they exempt from the requirement of a business purpose for adopting a tax year for the partnership that differs from its required tax year. Military state tax Investing partnership. Military state tax   An investing partnership can be excluded if the participants in the joint purchase, retention, sale, or exchange of investment property meet all the following requirements. Military state tax They own the property as co-owners. Military state tax They reserve the right separately to take or dispose of their shares of any property acquired or retained. Military state tax They do not actively conduct business or irrevocably authorize some person acting in a representative capacity to purchase, sell, or exchange the investment property. Military state tax Each separate participant can delegate authority to purchase, sell, or exchange his or her share of the investment property for the time being for his or her account, but not for a period of more than a year. Military state tax Operating agreement partnership. Military state tax   An operating agreement partnership group can be excluded if the participants in the joint production, extraction, or use of property meet all the following requirements. Military state tax They own the property as co-owners, either in fee or under lease or other form of contract granting exclusive operating rights. Military state tax They reserve the right separately to take in kind or dispose of their shares of any property produced, extracted, or used. Military state tax They do not jointly sell services or the property produced or extracted. Military state tax Each separate participant can delegate authority to sell his or her share of the property produced or extracted for the time being for his or her account, but not for a period of time in excess of the minimum needs of the industry, and in no event for more than one year. Military state tax However, this exclusion does not apply to an unincorporated organization one of whose principal purposes is cycling, manufacturing, or processing for persons who are not members of the organization. Military state tax Electing the exclusion. Military state tax   An eligible organization that wishes to be excluded from the partnership rules must make the election not later than the time for filing the partnership return for the first tax year for which exclusion is desired. Military state tax This filing date includes any extension of time. Military state tax See Regulations section 1. Military state tax 761-2(b) for the procedures to follow. Military state tax Partnership Return (Form 1065) Every partnership that engages in a trade or business or has gross income must file an information return on Form 1065 showing its income, deductions, and other required information. Military state tax The partnership return must show the names and addresses of each partner and each partner's distributive share of taxable income. Military state tax The return must be signed by a general partner. Military state tax If a limited liability company is treated as a partnership, it must file Form 1065 and one of its members must sign the return. Military state tax A partnership is not considered to engage in a trade or business, and is not required to file a Form 1065, for any tax year in which it neither receives income nor pays or incurs any expenses treated as deductions or credits for federal income tax purposes. Military state tax See the Instructions for Form 1065 for more information about who must file Form 1065. Military state tax Partnership Distributions Partnership distributions include the following. Military state tax A withdrawal by a partner in anticipation of the current year's earnings. Military state tax A distribution of the current year's or prior years' earnings not needed for working capital. Military state tax A complete or partial liquidation of a partner's interest. Military state tax A distribution to all partners in a complete liquidation of the partnership. Military state tax A partnership distribution is not taken into account in determining the partner's distributive share of partnership income or loss. Military state tax If any gain or loss from the distribution is recognized by the partner, it must be reported on his or her return for the tax year in which the distribution is received. Military state tax Money or property withdrawn by a partner in anticipation of the current year's earnings is treated as a distribution received on the last day of the partnership's tax year. Military state tax Effect on partner's basis. Military state tax   A partner's adjusted basis in his or her partnership interest is decreased (but not below zero) by the money and adjusted basis of property distributed to the partner. Military state tax See Adjusted Basis under Basis of Partner's Interest, later. Military state tax Effect on partnership. Military state tax   A partnership generally does not recognize any gain or loss because of distributions it makes to partners. Military state tax The partnership may be able to elect to adjust the basis of its undistributed property. Military state tax Certain distributions treated as a sale or exchange. Military state tax   When a partnership distributes the following items, the distribution may be treated as a sale or exchange of property rather than a distribution. Military state tax Unrealized receivables or substantially appreciated inventory items distributed in exchange for any part of the partner's interest in other partnership property, including money. Military state tax Other property (including money) distributed in exchange for any part of a partner's interest in unrealized receivables or substantially appreciated inventory items. Military state tax   See Payments for Unrealized Receivables and Inventory Items under Disposition of Partner's Interest, later. Military state tax   This treatment does not apply to the following distributions. Military state tax A distribution of property to the partner who contributed the property to the partnership. Military state tax Payments made to a retiring partner or successor in interest of a deceased partner that are the partner's distributive share of partnership income or guaranteed payments. Military state tax Substantially appreciated inventory items. Military state tax   Inventory items of the partnership are considered to have appreciated substantially in value if, at the time of the distribution, their total fair market value is more than 120% of the partnership's adjusted basis for the property. Military state tax However, if a principal purpose for acquiring inventory property is to avoid ordinary income treatment by reducing the appreciation to less than 120%, that property is excluded. Military state tax Partner's Gain or Loss A partner generally recognizes gain on a partnership distribution only to the extent any money (and marketable securities treated as money) included in the distribution exceeds the adjusted basis of the partner's interest in the partnership. Military state tax Any gain recognized is generally treated as capital gain from the sale of the partnership interest on the date of the distribution. Military state tax If partnership property (other than marketable securities treated as money) is distributed to a partner, he or she generally does not recognize any gain until the sale or other disposition of the property. Military state tax For exceptions to these rules, see Distribution of partner's debt and Net precontribution gain, later. Military state tax Also, see Payments for Unrealized Receivables and Inventory Items under Disposition of Partner's Interest, later. Military state tax Example. Military state tax The adjusted basis of Jo's partnership interest is $14,000. Military state tax She receives a distribution of $8,000 cash and land that has an adjusted basis of $2,000 and a fair market value of $3,000. Military state tax Because the cash received does not exceed the basis of her partnership interest, Jo does not recognize any gain on the distribution. Military state tax Any gain on the land will be recognized when she sells or otherwise disposes of it. Military state tax The distribution decreases the adjusted basis of Jo's partnership interest to $4,000 [$14,000 − ($8,000 + $2,000)]. Military state tax Marketable securities treated as money. Military state tax   Generally, a marketable security distributed to a partner is treated as money in determining whether gain is recognized on the distribution. Military state tax This treatment, however, does not generally apply if that partner contributed the security to the partnership or an investment partnership made the distribution to an eligible partner. Military state tax   The amount treated as money is the security's fair market value when distributed, reduced (but not below zero) by the excess (if any) of: The partner's distributive share of the gain that would be recognized had the partnership sold all its marketable securities at their fair market value immediately before the transaction resulting in the distribution, over The partner's distributive share of the gain that would be recognized had the partnership sold all such securities it still held after the distribution at the fair market value in (1). Military state tax   For more information, including the definition of marketable securities, see section 731(c) of the Internal Revenue Code. Military state tax Loss on distribution. Military state tax   A partner does not recognize loss on a partnership distribution unless all the following requirements are met. Military state tax The adjusted basis of the partner's interest in the partnership exceeds the distribution. Military state tax The partner's entire interest in the partnership is liquidated. Military state tax The distribution is in money, unrealized receivables, or inventory items. Military state tax   There are exceptions to these general rules. Military state tax See the following discussions. Military state tax Also, see Liquidation at Partner's Retirement or Death under Disposition of Partner's Interest, later. Military state tax Distribution of partner's debt. Military state tax   If a partnership acquires a partner's debt and extinguishes the debt by distributing it to the partner, the partner will recognize capital gain or loss to the extent the fair market value of the debt differs from the basis of the debt (determined under the rules discussed in Partner's Basis for Distributed Property, later). Military state tax   The partner is treated as having satisfied the debt for its fair market value. Military state tax If the issue price (adjusted for any premium or discount) of the debt exceeds its fair market value when distributed, the partner may have to include the excess amount in income as canceled debt. Military state tax   Similarly, a deduction may be available to a corporate partner if the fair market value of the debt at the time of distribution exceeds its adjusted issue price. Military state tax Net precontribution gain. Military state tax   A partner generally must recognize gain on the distribution of property (other than money) if the partner contributed appreciated property to the partnership during the 7-year period before the distribution. Military state tax   The gain recognized is the lesser of the following amounts. Military state tax The excess of: The fair market value of the property received in the distribution, over The adjusted basis of the partner's interest in the partnership immediately before the distribution, reduced (but not below zero) by any money received in the distribution. Military state tax The “net precontribution gain” of the partner. Military state tax This is the net gain the partner would recognize if all the property contributed by the partner within 7 years of the distribution, and held by the partnership immediately before the distribution, were distributed to another partner, other than a partner who owns more than 50% of the partnership. Military state tax For information about the distribution of contributed property to another partner, see Contribution of Property , under Transactions Between Partnership and Partners, later. Military state tax   The character of the gain is determined by reference to the character of the net precontribution gain. Military state tax This gain is in addition to any gain the partner must recognize if the money distributed is more than his or her basis in the partnership. Military state tax For these rules, the term “money” includes marketable securities treated as money, as discussed earlier. Military state tax Effect on basis. Military state tax   The adjusted basis of the partner's interest in the partnership is increased by any net precontribution gain recognized by the partner. Military state tax Other than for purposes of determining the gain, the increase is treated as occurring immediately before the distribution. Military state tax See Basis of Partner's Interest , later. Military state tax   The partnership must adjust its basis in any property the partner contributed within 7 years of the distribution to reflect any gain that partner recognizes under this rule. Military state tax Exceptions. Military state tax   Any part of a distribution that is property the partner previously contributed to the partnership is not taken into account in determining the amount of the excess distribution or the partner's net precontribution gain. Military state tax For this purpose, the partner's previously contributed property does not include a contributed interest in an entity to the extent its value is due to property contributed to the entity after the interest was contributed to the partnership. Military state tax   Recognition of gain under this rule also does not apply to a distribution of unrealized receivables or substantially appreciated inventory items if the distribution is treated as a sale or exchange, as discussed earlier. Military state tax Partner's Basis for Distributed Property Unless there is a complete liquidation of a partner's interest, the basis of property (other than money) distributed to the partner by a partnership is its adjusted basis to the partnership immediately before the distribution. Military state tax However, the basis of the property to the partner cannot be more than the adjusted basis of his or her interest in the partnership reduced by any money received in the same transaction. Military state tax Example 1. Military state tax The adjusted basis of Emily's partnership interest is $30,000. Military state tax She receives a distribution of property that has an adjusted basis of $20,000 to the partnership and $4,000 in cash. Military state tax Her basis for the property is $20,000. Military state tax Example 2. Military state tax The adjusted basis of Steve's partnership interest is $10,000. Military state tax He receives a distribution of $4,000 cash and property that has an adjusted basis to the partnership of $8,000. Military state tax His basis for the distributed property is limited to $6,000 ($10,000 − $4,000, the cash he receives). Military state tax Complete liquidation of partner's interest. Military state tax   The basis of property received in complete liquidation of a partner's interest is the adjusted basis of the partner's interest in the partnership reduced by any money distributed to the partner in the same transaction. Military state tax Partner's holding period. Military state tax   A partner's holding period for property distributed to the partner includes the period the property was held by the partnership. Military state tax If the property was contributed to the partnership by a partner, then the period it was held by that partner is also included. Military state tax Basis divided among properties. Military state tax   If the basis of property received is the adjusted basis of the partner's interest in the partnership (reduced by money received in the same transaction), it must be divided among the properties distributed to the partner. Military state tax For property distributed after August 5, 1997, allocate the basis using the following rules. Military state tax Allocate the basis first to unrealized receivables and inventory items included in the distribution by assigning a basis to each item equal to the partnership's adjusted basis in the item immediately before the distribution. Military state tax If the total of these assigned bases exceeds the allocable basis, decrease the assigned bases by the amount of the excess. Military state tax Allocate any remaining basis to properties other than unrealized receivables and inventory items by assigning a basis to each property equal to the partnership's adjusted basis in the property immediately before the distribution. Military state tax If the allocable basis exceeds the total of these assigned bases, increase the assigned bases by the amount of the excess. Military state tax If the total of these assigned bases exceeds the allocable basis, decrease the assigned bases by the amount of the excess. Military state tax Allocating a basis increase. Military state tax   Allocate any basis increase required in rule (2), above, first to properties with unrealized appreciation to the extent of the unrealized appreciation. Military state tax If the basis increase is less than the total unrealized appreciation, allocate it among those properties in proportion to their respective amounts of unrealized appreciation. Military state tax Allocate any remaining basis increase among all the properties in proportion to their respective fair market values. Military state tax Example. Military state tax Eun's basis in her partnership interest is $55,000. Military state tax In a distribution in liquidation of her entire interest, she receives properties A and B, neither of which is inventory or unrealized receivables. Military state tax Property A has an adjusted basis to the partnership of $5,000 and a fair market value of $40,000. Military state tax Property B has an adjusted basis to the partnership of $10,000 and a fair market value of $10,000. Military state tax To figure her basis in each property, Eun first assigns bases of $5,000 to property A and $10,000 to property B (their adjusted bases to the partnership). Military state tax This leaves a $40,000 basis increase (the $55,000 allocable basis minus the $15,000 total of the assigned bases). Military state tax She first allocates $35,000 to property A (its unrealized appreciation). Military state tax The remaining $5,000 is allocated between the properties based on their fair market values. Military state tax $4,000 ($40,000/$50,000) is allocated to property A and $1,000 ($10,000/$50,000) is allocated to property B. Military state tax Eun's basis in property A is $44,000 ($5,000 + $35,000 + $4,000) and her basis in property B is $11,000 ($10,000 + $1,000). Military state tax Allocating a basis decrease. Military state tax   Use the following rules to allocate any basis decrease required in rule (1) or rule (2), earlier. Military state tax Allocate the basis decrease first to items with unrealized depreciation to the extent of the unrealized depreciation. Military state tax If the basis decrease is less than the total unrealized depreciation, allocate it among those items in proportion to their respective amounts of unrealized depreciation. Military state tax Allocate any remaining basis decrease among all the items in proportion to their respective assigned basis amounts (as decreased in (1)). Military state tax Example. Military state tax Armando's basis in his partnership interest is $20,000. Military state tax In a distribution in liquidation of his entire interest, he receives properties C and D, neither of which is inventory or unrealized receivables. Military state tax Property C has an adjusted basis to the partnership of $15,000 and a fair market value of $15,000. Military state tax Property D has an adjusted basis to the partnership of $15,000 and a fair market value of $5,000. Military state tax To figure his basis in each property, Armando first assigns bases of $15,000 to property C and $15,000 to property D (their adjusted bases to the partnership). Military state tax This leaves a $10,000 basis decrease (the $30,000 total of the assigned bases minus the $20,000 allocable basis). Military state tax He allocates the entire $10,000 to property D (its unrealized depreciation). Military state tax Armando's basis in property C is $15,000 and his basis in property D is $5,000 ($15,000 − $10,000). Military state tax Distributions before August 6, 1997. Military state tax   For property distributed before August 6, 1997, allocate the basis using the following rules. Military state tax Allocate the basis first to unrealized receivables and inventory items included in the distribution to the extent of the partnership's adjusted basis in those items. Military state tax If the partnership's adjusted basis in those items exceeded the allocable basis, allocate the basis among the items in proportion to their adjusted bases to the partnership. Military state tax Allocate any remaining basis to other distributed properties in proportion to their adjusted bases to the partnership. Military state tax Partner's interest more than partnership basis. Military state tax   If the basis of a partner's interest to be divided in a complete liquidation of the partner's interest is more than the partnership's adjusted basis for the unrealized receivables and inventory items distributed, and if no other property is distributed to which the partner can apply the remaining basis, the partner has a capital loss to the extent of the remaining basis of the partnership interest. Military state tax Special adjustment to basis. Military state tax   A partner who acquired any part of his or her partnership interest in a sale or exchange or upon the death of another partner may be able to choose a special basis adjustment for property distributed by the partnership. Military state tax To choose the special adjustment, the partner must have received the distribution within 2 years after acquiring the partnership interest. Military state tax Also, the partnership must not have chosen the optional adjustment to basis when the partner acquired the partnership interest. Military state tax   If a partner chooses this special basis adjustment, the partner's basis for the property distributed is the same as it would have been if the partnership had chosen the optional adjustment to basis. Military state tax However, this assigned basis is not reduced by any depletion or depreciation that would have been allowed or allowable if the partnership had previously chosen the optional adjustment. Military state tax   The choice must be made with the partner's tax return for the year of the distribution if the distribution includes any property subject to depreciation, depletion, or amortization. Military state tax If the choice does not have to be made for the distribution year, it must be made with the return for the first year in which the basis of the distributed property is pertinent in determining the partner's income tax. Military state tax   A partner choosing this special basis adjustment must attach a statement to his or her tax return that the partner chooses under section 732(d) of the Internal Revenue Code to adjust the basis of property received in a distribution. Military state tax The statement must show the computation of the special basis adjustment for the property distributed and list the properties to which the adjustment has been allocated. Military state tax Example. Military state tax Chin Ho purchased a 25% interest in X partnership for $17,000 cash. Military state tax At the time of the purchase, the partnership owned inventory having a basis to the partnership of $14,000 and a fair market value of $16,000. Military state tax Thus, $4,000 of the $17,000 he paid was attributable to his share of inventory with a basis to the partnership of $3,500. Military state tax Within 2 years after acquiring his interest, Chin Ho withdrew from the partnership and for his entire interest received cash of $1,500, inventory with a basis to the partnership of $3,500, and other property with a basis of $6,000. Military state tax The value of the inventory received was 25% of the value of all partnership inventory. Military state tax (It is immaterial whether the inventory he received was on hand when he acquired his interest. Military state tax ) Since the partnership from which Chin Ho withdrew did not make the optional adjustment to basis, he chose to adjust the basis of the inventory received. Military state tax His share of the partnership's basis for the inventory is increased by $500 (25% of the $2,000 difference between the $16,000 fair market value of the inventory and its $14,000 basis to the partnership at the time he acquired his interest). Military state tax The adjustment applies only for purposes of determining his new basis in the inventory, and not for purposes of partnership gain or loss on disposition. Military state tax The total to be allocated among the properties Chin Ho received in the distribution is $15,500 ($17,000 basis of his interest − $1,500 cash received). Military state tax His basis in the inventory items is $4,000 ($3,500 partnership basis + $500 special adjustment). Military state tax The remaining $11,500 is allocated to his new basis for the other property he received. Military state tax Mandatory adjustment. Military state tax   A partner does not always have a choice of making this special adjustment to basis. Military state tax The special adjustment to basis must be made for a distribution of property (whether or not within 2 years after the partnership interest was acquired) if all the following conditions existed when the partner received the partnership interest. Military state tax The fair market value of all partnership property (other than money) was more than 110% of its adjusted basis to the partnership. Military state tax If there had been a liquidation of the partner's interest immediately after it was acquired, an allocation of the basis of that interest under the general rules (discussed earlier under Basis divided among properties) would have decreased the basis of property that could not be depreciated, depleted, or amortized and increased the basis of property that could be. Military state tax The optional basis adjustment, if it had been chosen by the partnership, would have changed the partner's basis for the property actually distributed. Military state tax Required statement. Military state tax   Generally, if a partner chooses a special basis adjustment and notifies the partnership, or if the partnership makes a distribution for which the special basis adjustment is mandatory, the partnership must provide a statement to the partner. Military state tax The statement must provide information necessary for the partner to compute the special basis adjustment. Military state tax Marketable securities. Military state tax   A partner's basis in marketable securities received in a partnership distribution, as determined in the preceding discussions, is increased by any gain recognized by treating the securities as money. Military state tax See Marketable securities treated as money under Partner's Gain or Loss, earlier. Military state tax The basis increase is allocated among the securities in proportion to their respective amounts of unrealized appreciation before the basis increase. Military state tax Transactions Between Partnership and Partners For certain transactions between a partner and his or her partnership, the partner is treated as not being a member of the partnership. Military state tax These transactions include the following. Military state tax Performing services for, or transferring property to, a partnership if: There is a related allocation and distribution to a partner, and The entire transaction, when viewed together, is properly characterized as occurring between the partnership and a partner not acting in the capacity of a partner. Military state tax Transferring money or other property to a partnership if: There is a related transfer of money or other property by the partnership to the contributing partner or another partner, and The transfers together are properly characterized as a sale or exchange of property. Military state tax Payments by accrual basis partnership to cash basis partner. Military state tax   A partnership that uses an accrual method of accounting cannot deduct any business expense owed to a cash basis partner until the amount is paid. Military state tax However, this rule does not apply to guaranteed payments made to a partner, which are generally deductible when accrued. Military state tax Guaranteed Payments Guaranteed payments are those made by a partnership to a partner that are determined without regard to the partnership's income. Military state tax A partnership treats guaranteed payments for services, or for the use of capital, as if they were made to a person who is not a partner. Military state tax This treatment is for purposes of determining gross income and deductible business expenses only. Military state tax For other tax purposes, guaranteed payments are treated as a partner's distributive share of ordinary income. Military state tax Guaranteed payments are not subject to income tax withholding. Military state tax The partnership generally deducts guaranteed payments on line 10 of Form 1065 as a business expense. Military state tax They are also listed on Schedules K and K-1 of the partnership return. Military state tax The individual partner reports guaranteed payments on Schedule E (Form 1040) as ordinary income, along with his or her distributive share of the partnership's other ordinary income. Military state tax Guaranteed payments made to partners for organizing the partnership or syndicating interests in the partnership are capital expenses. Military state tax Generally, organizational and syndication expenses are not deductible by the partnership. Military state tax However, a partnership can elect to deduct a portion of its organizational expenses and amortize the remaining expenses (see Business start-up and organizational costs in the Instructions for Form 1065). Military state tax Organizational expenses (if the election is not made) and syndication expenses paid to partners must be reported on the partners' Schedule K-1 as guaranteed payments. Military state tax Minimum payment. Military state tax   If a partner is to receive a minimum payment from the partnership, the guaranteed payment is the amount by which the minimum payment is more than the partner's distributive share of the partnership income before taking into account the guaranteed payment. Military state tax Example. Military state tax Under a partnership agreement, Divya is to receive 30% of the partnership income, but not less than $8,000. Military state tax The partnership has net income of $20,000. Military state tax Divya's share, without regard to the minimum guarantee, is $6,000 (30% × $20,000). Military state tax The guaranteed payment that can be deducted by the partnership is $2,000 ($8,000 − $6,000). Military state tax Divya's income from the partnership is $8,000, and the remaining $12,000 of partnership income will be reported by the other partners in proportion to their shares under the partnership agreement. Military state tax If the partnership net income had been $30,000, there would have been no guaranteed payment since her share, without regard to the guarantee, would have been greater than the guarantee. Military state tax Self-employed health insurance premiums. Military state tax   Premiums for health insurance paid by a partnership on behalf of a partner, for services as a partner, are treated as guaranteed payments. Military state tax The partnership can deduct the payments as a business expense, and the partner must include them in gross income. Military state tax However, if the partnership accounts for insurance paid for a partner as a reduction in distributions to the partner, the partnership cannot deduct the premiums. Military state tax   A partner who qualifies can deduct 100% of the health insurance premiums paid by the partnership on his or her behalf as an adjustment to income. Military state tax The partner cannot deduct the premiums for any calendar month, or part of a month, in which the partner is eligible to participate in any subsidized health plan maintained by any employer of the partner, the partner's spouse, the partner's dependents, or any children under age 27 who are not dependents. Military state tax For more information on the self-employed health insurance deduction, see chapter 6 in Publication 535. Military state tax Including payments in partner's income. Military state tax   Guaranteed payments are included in income in the partner's tax year in which the partnership's tax year ends. Military state tax Example 1. Military state tax Under the terms of a partnership agreement, Erica is entitled to a fixed annual payment of $10,000 without regard to the income of the partnership. Military state tax Her distributive share of the partnership income is 10%. Military state tax The partnership has $50,000 of ordinary income after deducting the guaranteed payment. Military state tax She must include ordinary income of $15,000 ($10,000 guaranteed payment + $5,000 ($50,000 × 10%) distributive share) on her individual income tax return for her tax year in which the partnership's tax year ends. Military state tax Example 2. Military state tax Lamont is a calendar year taxpayer who is a partner in a partnership. Military state tax The partnership uses a fiscal year that ended January 31, 2013. Military state tax Lamont received guaranteed payments from the partnership from February 1, 2012, until December 31, 2012. Military state tax He must include these guaranteed payments in income for 2013 and report them on his 2013 income tax return. Military state tax Payments resulting in loss. Military state tax   If guaranteed payments to a partner result in a partnership loss in which the partner shares, the partner must report the full amount of the guaranteed payments as ordinary income. Military state tax The partner separately takes into account his or her distributive share of the partnership loss, to the extent of the adjusted basis of the partner's partnership interest. Military state tax Sale or Exchange of Property Special rules apply to a sale or exchange of property between a partnership and certain persons. Military state tax Losses. Military state tax   Losses will not be allowed from a sale or exchange of property (other than an interest in the partnership) directly or indirectly between a partnership and a person whose direct or indirect interest in the capital or profits of the partnership is more than 50%. Military state tax   If the sale or exchange is between two partnerships in which the same persons directly or indirectly own more than 50% of the capital or profits interests in each partnership, no deduction of a loss is allowed. Military state tax   The basis of each partner's interest in the partnership is decreased (but not below zero) by the partner's share of the disallowed loss. Military state tax   If the purchaser later sells the property, only the gain realized that is greater than the loss not allowed will be taxable. Military state tax If any gain from the sale of the property is not recognized because of this rule, the basis of each partner's interest in the partnership is increased by the partner's share of that gain. Military state tax Gains. Military state tax   Gains are treated as ordinary income in a sale or exchange of property directly or indirectly between a person and a partnership, or between two partnerships, if both of the following tests are met. Military state tax More than 50% of the capital or profits interest in the partnership(s) is directly or indirectly owned by the same person(s). Military state tax The property in the hands of the transferee immediately after the transfer is not a capital asset. Military state tax Property that is not a capital asset includes accounts receivable, inventory, stock-in-trade, and depreciable or real property used in a trade or business. Military state tax More than 50% ownership. Military state tax   To determine if there is more than 50% ownership in partnership capital or profits, the following rules apply. Military state tax An interest directly or indirectly owned by, or for, a corporation, partnership, estate, or trust is considered to be owned proportionately by, or for, its shareholders, partners, or beneficiaries. Military state tax An individual is considered to own the interest directly or indirectly owned by, or for, the individual's family. Military state tax For this rule, “family” includes only brothers, sisters, half-brothers, half-sisters, spouses, ancestors, and lineal descendants. Military state tax If a person is considered to own an interest using rule (1), that person (the “constructive owner”) is treated as if actually owning that interest when rules (1) and (2) are applied. Military state tax However, if a person is considered to own an interest using rule (2), that person is not treated as actually owning that interest in reapplying rule (2) to make another person the constructive owner. Military state tax Example. Military state tax Individuals A and B and Trust T are equal partners in Partnership ABT. Military state tax A's husband, AH, is the sole beneficiary of Trust T. Military state tax Trust T's partnership interest will be attributed to AH only for the purpose of further attributing the interest to A. Military state tax As a result, A is a more-than-50% partner. Military state tax This means that any deduction for losses on transactions between her and ABT will not be allowed, and gain from property that in the hands of the transferee is not a capital asset is treated as ordinary, rather than capital, gain. Military state tax More information. Military state tax   For more information on these special rules, see Sales and Exchanges Between Related Persons in chapter 2 of Publication 544. Military state tax Contribution of Property Usually, neither the partner nor the partnership recognizes a gain or loss when property is contributed to the partnership in exchange for a partnership interest. Military state tax This applies whether a partnership is being formed or is already operating. Military state tax The partnership's holding period for the property includes the partner's holding period. Military state tax The contribution of limited partnership interests in one partnership for limited partnership interests in another partnership qualifies as a tax-free contribution of property to the second partnership if the transaction is made for business purposes. Military state tax The exchange is not subject to the rules explained later under Disposition of Partner's Interest. Military state tax Disguised sales. Military state tax   A contribution of money or other property to the partnership followed by a distribution of different property from the partnership to the partner is treated not as a contribution and distribution, but as a sale of property, if both of the following tests are met. Military state tax The distribution would not have been made but for the contribution. Military state tax The partner's right to the distribution does not depend on the success of partnership operations. Military state tax   All facts and circumstances are considered in determining if the contribution and distribution are more properly characterized as a sale. Military state tax However, if the contribution and distribution occur within 2 years of each other, the transfers are presumed to be a sale unless the facts clearly indicate that the transfers are not a sale. Military state tax If the contribution and distribution occur more than 2 years apart, the transfers are presumed not to be a sale unless the facts clearly indicate that the transfers are a sale. Military state tax Form 8275 required. Military state tax   A partner must attach Form 8275, Disclosure Statement, (or other statement) to his or her return if the partner contributes property to a partnership and, within 2 years (before or after the contribution), the partnership transfers money or other consideration to the partner. Military state tax For exceptions to this requirement, see section 1. Military state tax 707-3(c)(2) of the regulations. Military state tax   A partnership must attach Form 8275 (or other statement) to its return if it distributes property to a partner, and, within 2 years (before or after the distribution), the partner transfers money or other consideration to the partnership. Military state tax   Form 8275 must include the following information. Military state tax A caption identifying the statement as a disclosure under section 707 of the Internal Revenue Code. Military state tax A description of the transferred property or money, including its value. Military state tax A description of any relevant facts in determining if the transfers are properly viewed as a disguised sale. Military state tax See section 1. Military state tax 707-3(b)(2) of the regulations for a description of the facts and circumstances considered in determining if the transfers are a disguised sale. Military state tax Contribution to partnership treated as investment company. Military state tax   Gain is recognized when property is contributed (in exchange for an interest in the partnership) to a partnership that would be treated as an investment company if it were incorporated. Military state tax   A partnership is generally treated as an investment company if over 80% of the value of its assets is held for investment and consists of certain readily marketable items. Military state tax These items include money, stocks and other equity interests in a corporation, and interests in regulated investment companies and real estate investment trusts. Military state tax For more information, see section 351(e)(1) of the Internal Revenue Code and the related regulations. Military state tax Whether a partnership is treated as an investment company under this test is ordinarily determined immediately after the transfer of property. Military state tax   This rule applies to limited partnerships and general partnerships, regardless of whether they are privately formed or publicly syndicated. Military state tax Contribution to foreign partnership. Military state tax   A domestic partnership that contributed property after August 5, 1997, to a foreign partnership in exchange for a partnership interest may have to file Form 8865 if either of the following apply. Military state tax Immediately after the contribution, the partnership owned, directly or indirectly, at least a 10% interest in the foreign partnership. Military state tax The fair market value of the property contributed to the foreign partnership, when added to other contributions of property made to the partnership during the preceding 12-month period, is greater than $100,000. Military state tax   The partnership may also have to file Form 8865, even if no contributions are made during the tax year, if it owns a 10% or more interest in a foreign partnership at any time during the year. Military state tax See the form instructions for more information. Military state tax Basis of contributed property. Military state tax   If a partner contributes property to a partnership, the partnership's basis for determining depreciation, depletion, gain, or loss for the property is the same as the partner's adjusted basis for the property when it was contributed, increased by any gain recognized by the partner at the time of contribution. Military state tax Allocations to account for built-in gain or loss. Military state tax   The fair market value of property at the time it is contributed may be different from the partner's adjusted basis. Military state tax The partnership must allocate among the partners any income, deduction, gain, or loss on the property in a manner that will account for the difference. Military state tax This rule also applies to contributions of accounts payable and other accrued but unpaid items of a cash basis partner. Military state tax   The partnership can use different allocation methods for different items of contributed property. Military state tax A single reasonable method must be consistently applied to each item, and the overall method or combination of methods must be reasonable. Military state tax See section 1. Military state tax 704-3 of the regulations for allocation methods generally considered reasonable. Military state tax   If the partnership sells contributed property and recognizes gain or loss, built-in gain or loss is allocated to the contributing partner. Military state tax If contributed property is subject to depreciation or other cost recovery, the allocation of deductions for these items takes into account built-in gain or loss on the property. Military state tax However, the total depreciation, depletion, gain, or loss allocated to partners cannot be more than the depreciation or depletion allowable to the partnership or the gain or loss realized by the partnership. Military state tax Example. Military state tax Areta and Sofia formed an equal partnership. Military state tax Areta contributed $10,000 in cash to the partnership and Sofia contributed depreciable property with a fair market value of $10,000 and an adjusted basis of $4,000. Military state tax The partnership's basis for depreciation is limited to the adjusted basis of the property in Sofia's hands, $4,000. Military state tax In effect, Areta purchased an undivided one-half interest in the depreciable property with her contribution of $10,000. Military state tax Assuming that the depreciation rate is 10% a year under the General Depreciation System (GDS), she would have been entitled to a depreciation deduction of $500 per year, based on her interest in the partnership, if the adjusted basis of the property equaled its fair market value when contributed. Military state tax To simplify this example, the depreciation deductions are determined without regard to any first-year depreciation conventions. Military state tax However, since the partnership is allowed only $400 per year of depreciation (10% of $4,000), no more than $400 can be allocated between the partners. Military state tax The entire $400 must be allocated to Areta. Military state tax Distribution of contributed property to another partner. Military state tax   If a partner contributes property to a partnership and the partnership distributes the property to another partner within 7 years of the contribution, the contributing partner must recognize gain or loss on the distribution. Military state tax   The recognized gain or loss is the amount the contributing partner would have recognized if the property had been sold for its fair market value when it was distributed. Military state tax This amount is the difference between the property's basis and its fair market value at the time of contribution. Military state tax The character of the gain or loss will be the same as the character of the gain or loss that would have resulted if the partnership had sold the property to the distributee partner. Military state tax Appropriate adjustments must be made to the adjusted basis of the contributing partner's partnership interest and to the adjusted basis of the property distributed to reflect the recognized gain or loss. Military state tax Disposition of certain contributed property. Military state tax   The following rules determine the character of the partnership's gain or loss on a disposition of certain types of contributed property. Military state tax Unrealized receivables. Military state tax If the property was an unrealized receivable in the hands of the contributing partner, any gain or loss on its disposition by the partnership is ordinary income or loss. Military state tax Unrealized receivables are defined later under Payments for Unrealized Receivables and Inventory Items. Military state tax When reading the definition, substitute “partner” for “partnership. Military state tax ” Inventory items. Military state tax If the property was an inventory item in the hands of the contributing partner, any gain or loss on its disposition by the partnership within 5 years after the contribution is ordinary income or loss. Military state tax Inventory items are defined later in Payments for Unrealized Receivables and Inventory Items. Military state tax Capital loss property. Military state tax If the property was a capital asset in the contributing partner's hands, any loss on its disposition by the partnership within 5 years after the contribution is a capital loss. Military state tax The capital loss is limited to the amount by which the partner's adjusted basis for the property exceeded the property's fair market value immediately before the contribution. Military state tax Substituted basis property. Military state tax If the disposition of any of the property listed in (1), (2), or (3) is a nonrecognition transaction, these rules apply when the recipient of the property disposes of any substituted basis property (other than certain corporate stock) resulting from the transaction. Military state tax Contribution of Services A partner can acquire an interest in partnership capital or profits as compensation for services performed or to be performed. Military state tax Capital interest. Military state tax   A capital interest is an interest that would give the holder a share of the proceeds if the partnership's assets were sold at fair market value and the proceeds were distributed in a complete liquidation of the partnership. Military state tax This determination generally is made at the time of receipt of the partnership interest. Military state tax The fair market value of such an interest received by a partner as compensation for services must generally be included in the partner's gross income in the first tax year in which the partner can transfer the interest or the interest is not subject to a substantial risk of forfeiture. Military state tax The capital interest transferred as compensation for services is subject to the rules for restricted property discussed in Publication 525 under Employee Compensation. Military state tax   The fair market value of an interest in partnership capital transferred to a partner as payment for services to the partnership is a guaranteed payment, discussed earlier. Military state tax Profits interest. Military state tax   A profits interest is a partnership interest other than a capital interest. Military state tax If a person receives a profits interest for providing services to, or for the benefit of, a partnership in a partner capacity or in anticipation of being a partner, the receipt of such an interest is not a taxable event for the partner or the partnership. Military state tax However, this does not apply in the following situations. Military state tax The profits interest relates to a substantially certain and predictable stream of income from partnership assets, such as income from high-quality debt securities or a high-quality net lease. Military state tax Within 2 years of receipt, the partner disposes of the profits interest. Military state tax The profits interest is a limited partnership interest in a publicly traded partnership. Military state tax   A profits interest transferred as compensation for services is not subject to the rules for restricted property that apply to capital interests. Military state tax Basis of Partner's Interest The basis of a partnership interest is the money plus the adjusted basis of any property the partner contributed. Military state tax If the partner must recognize gain as a result of the contribution, this gain is included in the basis of his or her interest. Military state tax Any increase in a partner's individual liabilities because of an assumption of partnership liabilities is considered a contribution of money to the partnership by the partner. Military state tax Interest acquired by gift, etc. Military state tax   If a partner acquires an interest in a partnership by gift, inheritance, or under any circumstance other than by a contribution of money or property to the partnership, the partner's basis must be determined using the basis rules described in Publication 551. Military state tax Adjusted Basis There is a worksheet for adjusting the basis of a partner's interest in the partnership in the Partner's Instructions for Schedule K-1 (Form 1065). Military state tax The basis of an interest in a partnership is increased or decreased by certain items. Military state tax Increases. Military state tax   A partner's basis is increased by the following items. Military state tax The partner's additional contributions to the partnership, including an increased share of, or assumption of, partnership liabilities. Military state tax The partner's distributive share of taxable and nontaxable partnership income. Military state tax The partner's distributive share of the excess of the deductions for depletion over the basis of the depletable property, unless the property is oil or gas wells whose basis has been allocated to partners. Military state tax Decreases. Military state tax   The partner's basis is decreased (but never below zero) by the following items. Military state tax The money (including a decreased share of partnership liabilities or an assumption of the partner's individual liabilities by the partnership) and adjusted basis of property distributed to the partner by the partnership. Military state tax The partner's distributive share of the partnership losses (including capital losses). Military state tax The partner's distributive share of nondeductible partnership expenses that are not capital expenditures. Military state tax This includes the partner's share of any section 179 expenses, even if the partner cannot deduct the entire amount on his or her individual income tax return. Military state tax The partner's deduction for depletion for any partnership oil and gas wells, up to the proportionate share of the adjusted basis of the wells allocated to the partner. Military state tax Partner's liabilities assumed by partnership. Military state tax   If contributed property is subject to a debt or if a partner's liabilities are assumed by the partnership, the basis of that partner's interest is reduced (but not below zero) by the liability assumed by the other partners. Military state tax This partner must reduce his or her basis because the assumption of the liability is treated as a distribution of money to that partner. Military state tax The other partners' assumption of the liability is treated as a contribution by them of money to the partnership. Military state tax See Effect of Partnership Liabilities , later. Military state tax Example 1. Military state tax Ivan acquired a 20% interest in a partnership by contributing property that had an adjusted basis to him of $8,000 and a $4,000 mortgage. Military state tax The partnership assumed payment of the mortgage. Military state tax The basis of Ivan's interest is: Adjusted basis of contributed property $8,000 Minus: Part of mortgage assumed by other partners (80% × $4,000) 3,200 Basis of Ivan's partnership interest $4,800 Example 2. Military state tax If, in Example 1, the contributed property had a $12,000 mortgage, the basis of Ivan's partnership interest would be zero. Military state tax The $1,600 difference between the mortgage assumed by the other partners, $9,600 (80% × $12,000), and his basis of $8,000 would be treated as capital gain from the sale or exchange of a partnership interest. Military state tax However, this gain would not increase the basis of his partnership interest. Military state tax Book value of partner's interest. Military state tax   The adjusted basis of a partner's interest is determined without considering any amount shown in the partnership books as a capital, equity, or similar account. Military state tax Example. Military state tax Enzo contributes to his partnership property that has an adjusted basis of $400 and a fair market value of $1,000. Military state tax His partner contributes $1,000 cash. Military state tax While each partner has increased his capital account by $1,000, which will be re