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Penalties For Late Tax Returns

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Penalties For Late Tax Returns

Penalties for late tax returns 8. Penalties for late tax returns   Gains and Losses Table of Contents Introduction Topics - This chapter discusses: Useful Items - You may want to see: Sales and ExchangesDetermining Gain or Loss Like-Kind Exchanges Transfer to Spouse Ordinary or Capital Gain or LossCapital Assets Noncapital Assets Hedging (Commodity Futures) Livestock Converted Wetland and Highly Erodible Cropland Timber Sale of a Farm Foreclosure or Repossession Abandonment Introduction This chapter explains how to figure, and report on your tax return, your gain or loss on the disposition of your property or debt and whether such gain or loss is ordinary or capital. Penalties for late tax returns Ordinary gain is taxed at the same rates as wages and interest income while capital gain is generally taxed at lower rates. Penalties for late tax returns Dispositions discussed in this chapter include sales, exchanges, foreclosures, repossessions, canceled debts, hedging transactions, and elections to treat cutting of timber as a sale or exchange. Penalties for late tax returns Topics - This chapter discusses: Sales and exchanges Ordinary or capital gain or loss Useful Items - You may want to see: Publication 334 Tax Guide for Small Business 523 Selling Your Home 544 Sales and Other Dispositions of Assets 550 Investment Income and Expenses 908 Bankruptcy Tax Guide Form (and Instructions) 982 Reduction of Tax Attributes Due to Discharge of Indebtedness (and Section 1082 Basis Adjustment) Sch D (Form 1040) Capital Gains and Losses Sch F (Form 1040) Profit or Loss From Farming 1099-A Acquisition or Abandonment of Secured Property 1099-C Cancellation of Debt 4797 Sales of Business Property 8949 Sales and Other Dispositions of Capital Assets See chapter 16 for information about getting publications and forms. Penalties for late tax returns Sales and Exchanges If you sell, exchange, or otherwise dispose of your property, you usually have a gain or a loss. Penalties for late tax returns This section explains certain rules for determining whether any gain you have is taxable, and whether any loss you have is deductible. Penalties for late tax returns A sale is a transfer of property for money or a mortgage, note, or other promise to pay money. Penalties for late tax returns An exchange is a transfer of property for other property or services. Penalties for late tax returns Determining Gain or Loss You usually realize a gain or loss when you sell or exchange property. Penalties for late tax returns If the amount you realize from a sale or exchange of property is more than its adjusted basis, you will have a gain. Penalties for late tax returns If the adjusted basis of the property is more than the amount you realize, you will have a loss. Penalties for late tax returns Basis and adjusted basis. Penalties for late tax returns   The basis of property you buy is usually its cost. Penalties for late tax returns The adjusted basis of property is basis plus certain additions and minus certain deductions. Penalties for late tax returns See chapter 6 for more information about basis and adjusted basis. Penalties for late tax returns Amount realized. Penalties for late tax returns   The amount you realize from a sale or exchange is the total of all money you receive plus the fair market value (FMV) (defined in chapter 6) of all property or services you receive. Penalties for late tax returns The amount you realize also includes any of your liabilities assumed by the buyer and any liabilities to which the property you transferred is subject, such as real estate taxes or a mortgage. Penalties for late tax returns   If the liabilities relate to an exchange of multiple properties, see Multiple Property Exchanges in chapter 1 of Publication 544. Penalties for late tax returns Amount recognized. Penalties for late tax returns   Your gain or loss realized from a sale or exchange of certain property is usually a recognized gain or loss for tax purposes. Penalties for late tax returns A recognized gain is a gain you must include in gross income and report on your income tax return. Penalties for late tax returns A recognized loss is a loss you deduct from gross income. Penalties for late tax returns However, your gain or loss realized from the exchange of certain property may not be recognized for tax purposes. Penalties for late tax returns See Like-Kind Exchanges next. Penalties for late tax returns Also, a loss from the disposition of property held for personal use is not deductible. Penalties for late tax returns Like-Kind Exchanges Certain exchanges of property are not taxable. Penalties for late tax returns This means any gain from the exchange is not recognized, and any loss cannot be deducted. Penalties for late tax returns Your gain or loss will not be recognized until you sell or otherwise dispose of the property you receive. Penalties for late tax returns The exchange of property for the same kind of property is the most common type of nontaxable exchange. Penalties for late tax returns To qualify for treatment as a like-kind exchange, the property traded and the property received must be both of the following. Penalties for late tax returns Qualifying property. Penalties for late tax returns Like-kind property. Penalties for late tax returns These two requirements are discussed later. Penalties for late tax returns Multiple-party transactions. Penalties for late tax returns   The like-kind exchange rules also apply to property exchanges that involve three and four-party transactions. Penalties for late tax returns Any part of these multiple-party transactions can qualify as a like-kind exchange if it meets all the requirements described in this section. Penalties for late tax returns Receipt of title from third party. Penalties for late tax returns   If you receive property in a like-kind exchange and the other party who transfers the property to you does not give you the title, but a third party does, you can still treat this transaction as a like-kind exchange if it meets all the requirements. Penalties for late tax returns Basis of property received. Penalties for late tax returns   If you receive property in a like-kind exchange, the basis of the property will be the same as the basis of the property you gave up. Penalties for late tax returns See chapter 6 for more information. Penalties for late tax returns Money paid. Penalties for late tax returns   If, in addition to giving up like-kind property, you pay money in a like-kind exchange, you still have no recognized gain or loss. Penalties for late tax returns The basis of the property received is the basis of the property given up, increased by the money paid. Penalties for late tax returns Example. Penalties for late tax returns You traded an old tractor with an adjusted basis of $15,000 for a new one. Penalties for late tax returns The new tractor costs $300,000. Penalties for late tax returns You were allowed $80,000 for the old tractor and paid $220,000 cash. Penalties for late tax returns You have no recognized gain or loss on the transaction regardless of the adjusted basis of your old tractor and the basis of the new tractor is $235,000, the adjusted basis of the old tractor plus the cash paid ($15,000 + $220,000). Penalties for late tax returns If you had sold the old tractor to a third party for $80,000 and bought a new one, you would have a recognized gain or loss on the sale of your old tractor equal to the difference between the amount realized and the adjusted basis of the old tractor. Penalties for late tax returns In this case, the taxable gain would be $65,000 ($80,000 − $15,000) and the basis of the new tractor would be $300,000. Penalties for late tax returns Reporting the exchange. Penalties for late tax returns   Report the exchange of like-kind property, even though no gain or loss is recognized, on Form 8824, Like-Kind Exchanges. Penalties for late tax returns The Instructions for Form 8824 explain how to report the details of the exchange. Penalties for late tax returns   If you have any recognized gain because you received money or unlike property, report it on Schedule D (Form 1040) or Form 4797, whichever applies. Penalties for late tax returns You may also have to report the recognized gain as ordinary income because of depreciation recapture on Form 4797. Penalties for late tax returns See chapter 9 for more information. Penalties for late tax returns Qualifying property. Penalties for late tax returns   In a like-kind exchange, both the property you give up and the property you receive must be held by you for investment or for productive use in your trade or business. Penalties for late tax returns Machinery, buildings, land, trucks, breeding livestock, rental houses, and certain mutual ditch, reservoir, or irrigation company stock are examples of property that may qualify. Penalties for late tax returns Nonqualifying property. Penalties for late tax returns   The rules for like-kind exchanges do not apply to exchanges of the following property. Penalties for late tax returns Property you use for personal purposes, such as your home and family car. Penalties for late tax returns Stock in trade or other property held primarily for sale, such as crops and produce. Penalties for late tax returns Stocks, bonds, or notes. Penalties for late tax returns However, see Qualifying property above. Penalties for late tax returns Other securities or evidences of indebtedness, such as accounts receivable. Penalties for late tax returns Partnership interests. Penalties for late tax returns However, you may have a nontaxable exchange under other rules. Penalties for late tax returns See Other Nontaxable Exchanges in chapter 1 of Publication 544. Penalties for late tax returns Like-kind property. Penalties for late tax returns   To qualify as a nontaxable exchange, the properties exchanged must be of like kind. Penalties for late tax returns Like-kind properties are properties of the same nature or character, even if they differ in grade or quality. Penalties for late tax returns Generally, real property exchanged for real property qualifies as an exchange of like-kind property. Penalties for late tax returns For example, an exchange of city property for farm property or improved property for unimproved property is a like-kind exchange. Penalties for late tax returns   An exchange of a tractor for a new tractor is an exchange of like-kind property, and so is an exchange of timber land for crop acreage. Penalties for late tax returns An exchange of a tractor for acreage, however, is not an exchange of like-kind property. Penalties for late tax returns The exchange of livestock of one sex for livestock of the other sex is not a like-kind exchange. Penalties for late tax returns For example, the exchange of a bull for a cow is not a like-kind exchange. Penalties for late tax returns An exchange of the assets of a business for the assets of a similar business cannot be treated as an exchange of one property for another property. Penalties for late tax returns    Note. Penalties for late tax returns Whether you engaged in a like-kind exchange depends on an analysis of each asset involved in the exchange. Penalties for late tax returns Personal property. Penalties for late tax returns   Depreciable tangible personal property can be either like kind or like class to qualify for nontaxable exchange treatment. Penalties for late tax returns Like-class properties are depreciable tangible personal properties within the same General Asset Class or Product Class. Penalties for late tax returns Property classified in any General Asset Class may not be classified within a Product Class. Penalties for late tax returns Assets that are not in the same class will qualify as like-kind property if they are of the same nature or character. Penalties for late tax returns General Asset Classes. Penalties for late tax returns   General Asset Classes describe the types of property frequently used in many businesses. Penalties for late tax returns They include, but are not limited to, the following property. Penalties for late tax returns Office furniture, fixtures, and equipment (asset class 00. Penalties for late tax returns 11). Penalties for late tax returns Information systems, such as computers and peripheral equipment (asset class 00. Penalties for late tax returns 12). Penalties for late tax returns Data handling equipment except computers (asset class 00. Penalties for late tax returns 13). Penalties for late tax returns Automobiles and taxis (asset class 00. Penalties for late tax returns 22). Penalties for late tax returns Light general purpose trucks (asset class 00. Penalties for late tax returns 241). Penalties for late tax returns Heavy general purpose trucks (asset class 00. Penalties for late tax returns 242). Penalties for late tax returns Tractor units for use over-the-road (asset class 00. Penalties for late tax returns 26). Penalties for late tax returns Trailers and trailer-mounted containers (asset class 00. Penalties for late tax returns 27). Penalties for late tax returns Industrial steam and electric generation and/or distribution systems (asset class 00. Penalties for late tax returns 4). Penalties for late tax returns Product Classes. Penalties for late tax returns   Product Classes include property listed in a 6-digit product class in sectors 31 through 33 of the North American Industry Classification System (NAICS) of the Executive Office of the President, Office of Management and Budget, United States, (NAICS Manual). Penalties for late tax returns The latest version of the manual can be accessed at www. Penalties for late tax returns census. Penalties for late tax returns gov/eos/www/naics/. Penalties for late tax returns Copies of the printed manual may be purchased from the National Technical Information Service (NTIS) at  www. Penalties for late tax returns ntis. Penalties for late tax returns gov/products/naics. Penalties for late tax returns aspx or by calling 1-800-553-NTIS (1-800-553-6847) or (703) 605-6000. Penalties for late tax returns A CD-ROM version with search and retrieval software is also available from NTIS. Penalties for late tax returns    NAICS class 333111, Farm Machinery and Equipment Manufacturing, includes most machinery and equipment used in a farming business. Penalties for late tax returns Partially nontaxable exchange. Penalties for late tax returns   If, in addition to like-kind property, you receive money or unlike property in an exchange on which you realize gain, you have a partially nontaxable exchange. Penalties for late tax returns You are taxed on the gain you realize, but only to the extent of the money and the FMV of the unlike property you receive. Penalties for late tax returns A loss is not deductible. Penalties for late tax returns Example 1. Penalties for late tax returns You trade farmland that cost $30,000 for $10,000 cash and other land to be used in farming with a FMV of $50,000. Penalties for late tax returns You have a realized gain of $30,000 ($50,000 FMV of new land + $10,000 cash − $30,000 basis of old farmland = $30,000 realized gain). Penalties for late tax returns However, only $10,000, the cash received, is recognized (included in income). Penalties for late tax returns Example 2. Penalties for late tax returns Assume the same facts as in Example 1, except that, instead of money, you received a tractor with a FMV of $10,000. Penalties for late tax returns Your recognized gain is still limited to $10,000, the value of the tractor (the unlike property). Penalties for late tax returns Example 3. Penalties for late tax returns Assume in Example 1 that the FMV of the land you received was only $15,000. Penalties for late tax returns Your $5,000 loss is not recognized. Penalties for late tax returns Unlike property given up. Penalties for late tax returns   If, in addition to like-kind property, you give up unlike property, you must recognize gain or loss on the unlike property you give up. Penalties for late tax returns The gain or loss is the difference between the FMV of the unlike property and the adjusted basis of the unlike property. Penalties for late tax returns Like-kind exchanges between related persons. Penalties for late tax returns   Special rules apply to like-kind exchanges between related persons. Penalties for late tax returns These rules affect both direct and indirect exchanges. Penalties for late tax returns Under these rules, if either person disposes of the property within 2 years after the exchange, the exchange is disqualified from nonrecognition treatment. Penalties for late tax returns The gain or loss on the original exchange must be recognized as of the date of the later disposition. Penalties for late tax returns The 2-year holding period begins on the date of the last transfer of property that was part of the like-kind exchange. Penalties for late tax returns Related persons. Penalties for late tax returns   Under these rules, related persons include, for example, you and a member of your family (spouse, brother, sister, parent, child, etc. Penalties for late tax returns ), you and a corporation in which you have more than 50% ownership, you and a partnership in which you directly or indirectly own more than a 50% interest of the capital or profits, and two partnerships in which you directly or indirectly own more than 50% of the capital interests or profits. Penalties for late tax returns   For the complete list of related persons, see Related persons in chapter 2 of Publication 544. Penalties for late tax returns Example. Penalties for late tax returns You used a grey pickup truck in your farming business. Penalties for late tax returns Your sister used a red pickup truck in her landscaping business. Penalties for late tax returns In December 2012, you exchanged your grey pickup truck, plus $200, for your sister's red pickup truck. Penalties for late tax returns At that time, the FMV of the grey pickup truck was $7,000 and its adjusted basis was $6,000. Penalties for late tax returns The FMV of the red pickup truck was $7,200 and its adjusted basis was $1,000. Penalties for late tax returns You realized a gain of $1,000 (the $7,200 FMV of the red pickup truck, minus the grey pickup truck's $6,000 adjusted basis, minus the $200 you paid). Penalties for late tax returns Your sister realized a gain of $6,200 (the $7,000 FMV of the grey pickup truck plus the $200 you paid, minus the $1,000 adjusted basis of the red pickup truck). Penalties for late tax returns However, because this was a like-kind exchange, you recognized no gain. Penalties for late tax returns Your basis in the red pickup truck was $6,200 (the $6,000 adjusted basis of the grey pickup truck plus the $200 you paid). Penalties for late tax returns She recognized gain only to the extent of the money she received, $200. Penalties for late tax returns Her basis in the grey pickup truck was $1,000 (the $1,000 adjusted basis of the red pickup truck minus the $200 received, plus the $200 gain recognized). Penalties for late tax returns In 2013, you sold the red pickup truck to a third party for $7,000. Penalties for late tax returns Because you sold it within 2 years after the exchange, the exchange is disqualified from nonrecognition treatment. Penalties for late tax returns On your tax return for 2013, you must report your $1,000 gain on the 2012 exchange. Penalties for late tax returns You also report a loss on the sale as $200 (the adjusted basis of the red pickup truck, $7,200 (its $6,200 basis plus the $1,000 gain recognized), minus the $7,000 realized from the sale). Penalties for late tax returns In addition, your sister must report on her tax return for 2013 the $6,000 balance of her gain on the 2012 exchange. Penalties for late tax returns Her adjusted basis in the grey pickup truck is increased to $7,000 (its $1,000 basis plus the $6,000 gain recognized). Penalties for late tax returns Exceptions to the rules for related persons. Penalties for late tax returns   The following property dispositions are excluded from these rules. Penalties for late tax returns Dispositions due to the death of either related person. Penalties for late tax returns Involuntary conversions. Penalties for late tax returns Dispositions where it is established to the satisfaction of the IRS that neither the exchange nor the disposition has, as a main purpose, the avoidance of federal income tax. Penalties for late tax returns Multiple property exchanges. Penalties for late tax returns   Under the like-kind exchange rules, you must generally make a property-by-property comparison to figure your recognized gain and the basis of the property you receive in the exchange. Penalties for late tax returns However, for exchanges of multiple properties, you do not make a property-by-property comparison if you do either of the following. Penalties for late tax returns Transfer and receive properties in two or more exchange groups. Penalties for late tax returns Transfer or receive more than one property within a single exchange group. Penalties for late tax returns   For more information, see Multiple Property Exchanges in chapter 1 of Publication 544. Penalties for late tax returns Deferred exchange. Penalties for late tax returns   A deferred exchange for like-kind property may qualify for nonrecognition of gain or loss. Penalties for late tax returns A deferred exchange is an exchange in which you transfer property you use in business or hold for investment and later receive like-kind property you will use in business or hold for investment. Penalties for late tax returns The property you receive is replacement property. Penalties for late tax returns The transaction must be an exchange of property for property rather than a transfer of property for money used to buy replacement property. Penalties for late tax returns In addition, the replacement property will not be treated as like-kind property unless certain identification and receipt requirements are met. Penalties for late tax returns   For more information see Deferred Exchanges in chapter 1 of Publication 544. Penalties for late tax returns Transfer to Spouse No gain or loss is recognized on a transfer of property from an individual to (or in trust for the benefit of) a spouse, or a former spouse if incident to divorce. Penalties for late tax returns This rule does not apply if the recipient is a nonresident alien. Penalties for late tax returns Nor does this rule apply to a transfer in trust to the extent the liabilities assumed and the liabilities on the property are more than the property's adjusted basis. Penalties for late tax returns Any transfer of property to a spouse or former spouse on which gain or loss is not recognized is not considered a sale or exchange. Penalties for late tax returns The recipient's basis in the property will be the same as the adjusted basis of the giver immediately before the transfer. Penalties for late tax returns This carryover basis rule applies whether the adjusted basis of the transferred property is less than, equal to, or greater than either its FMV at the time of transfer or any consideration paid by the recipient. Penalties for late tax returns This rule applies for determining loss as well as gain. Penalties for late tax returns Any gain recognized on a transfer in trust increases the basis. Penalties for late tax returns For more information on transfers of property incident to divorce, see Property Settlements in Publication 504, Divorced or Separated Individuals. Penalties for late tax returns Ordinary or Capital Gain or Loss Generally, you will have a capital gain or loss if you sell or exchange a capital asset (defined below). Penalties for late tax returns You may also have a capital gain if your section 1231 transactions result in a net gain. Penalties for late tax returns See Section 1231 Gains and Losses in  chapter 9. Penalties for late tax returns To figure your net capital gain or loss, you must classify your gains and losses as either ordinary or capital (and your capital gains or losses as either short-term or long-term). Penalties for late tax returns Your net capital gains may be taxed at a lower tax rate than ordinary income. Penalties for late tax returns See Capital Gains Tax Rates , later. Penalties for late tax returns Your deduction for a net capital loss may be limited. Penalties for late tax returns See Treatment of Capital Losses , later. Penalties for late tax returns Capital Assets Almost everything you own and use for personal purposes or investment is a capital asset. Penalties for late tax returns The following items are examples of capital assets. Penalties for late tax returns A home owned and occupied by you and your family. Penalties for late tax returns Household furnishings. Penalties for late tax returns A car used for pleasure. Penalties for late tax returns If your car is used both for pleasure and for farm business, it is partly a capital asset and partly a noncapital asset, defined later. Penalties for late tax returns Stocks and bonds. Penalties for late tax returns However, there are special rules for gains on qualified small business stock. Penalties for late tax returns For more information on this subject, see Gains on Qualified Small Business Stock and Losses on Section 1244 (Small Business) Stock in chapter 4 of Publication 550. Penalties for late tax returns Personal-use property. Penalties for late tax returns   Gain from a sale or exchange of personal-use property is a capital gain and is taxable. Penalties for late tax returns Loss from the sale or exchange of personal-use property is not deductible. Penalties for late tax returns You can deduct a loss relating to personal-use property only if it results from a casualty or theft. Penalties for late tax returns For information on casualties and thefts, see chapter 11. Penalties for late tax returns Long and Short Term Where you report a capital gain or loss depends on how long you own the asset before you sell or exchange it. Penalties for late tax returns The time you own an asset before disposing of it is the holding period. Penalties for late tax returns If you hold a capital asset 1 year or less, the gain or loss resulting from its disposition is short term. Penalties for late tax returns Report it in Part I of Schedule D (Form 1040). Penalties for late tax returns If you hold a capital asset longer than 1 year, the gain or loss resulting from its disposition is long term. Penalties for late tax returns Report it in Part II of Schedule D (Form 1040). Penalties for late tax returns Holding period. Penalties for late tax returns   To figure if you held property longer than 1 year, start counting on the day after the day you acquired the property. Penalties for late tax returns The day you disposed of the property is part of your holding period. Penalties for late tax returns Example. Penalties for late tax returns If you bought an asset on June 19, 2012, you should start counting on June 20, 2012. Penalties for late tax returns If you sold the asset on June 19, 2013, your holding period is not longer than 1 year, but if you sold it on June 20, 2013, your holding period is longer than 1 year. Penalties for late tax returns Inherited property. Penalties for late tax returns   If you inherit property, you are considered to have held the property longer than 1 year, regardless of how long you actually held it. Penalties for late tax returns This rule does not apply to livestock used in a farm business. Penalties for late tax returns See Holding period under Livestock , later. Penalties for late tax returns Nonbusiness bad debt. Penalties for late tax returns   A nonbusiness bad debt is a short-term capital loss, deductible in the year the debt becomes worthless. Penalties for late tax returns See chapter 4 of Publication 550. Penalties for late tax returns Nontaxable exchange. Penalties for late tax returns   If you acquire an asset in exchange for another asset and your basis for the new asset is figured, in whole or in part, by using your basis in the old property, the holding period of the new property includes the holding period of the old property. Penalties for late tax returns That is, it begins on the same day as your holding period for the old property. Penalties for late tax returns Gift. Penalties for late tax returns   If you receive a gift of property and your basis in it is figured using the donor's basis, your holding period includes the donor's holding period. Penalties for late tax returns Real property. Penalties for late tax returns   To figure how long you held real property, start counting on the day after you received title to it or, if earlier, on the day after you took possession of it and assumed the burdens and privileges of ownership. Penalties for late tax returns   However, taking possession of real property under an option agreement is not enough to start the holding period. Penalties for late tax returns The holding period cannot start until there is an actual contract of sale. Penalties for late tax returns The holding period of the seller cannot end before that time. Penalties for late tax returns Figuring Net Gain or Loss The totals for short-term capital gains and losses and the totals for long-term capital gains and losses must be figured separately. Penalties for late tax returns Net short-term capital gain or loss. Penalties for late tax returns   Combine your short-term capital gains and losses. Penalties for late tax returns Do this by adding all of your short-term capital gains. Penalties for late tax returns Then add all of your short-term capital losses. Penalties for late tax returns Subtract the lesser total from the greater. Penalties for late tax returns The difference is your net short-term capital gain or loss. Penalties for late tax returns Net long-term capital gain or loss. Penalties for late tax returns   Follow the same steps to combine your long-term capital gains and losses. Penalties for late tax returns The result is your net long-term capital gain or loss. Penalties for late tax returns Net gain. Penalties for late tax returns   If the total of your capital gains is more than the total of your capital losses, the difference is taxable. Penalties for late tax returns However, part of your gain (but not more than your net capital gain) may be taxed at a lower rate than the rate of tax on your ordinary income. Penalties for late tax returns See Capital Gains Tax Rates , later. Penalties for late tax returns Net loss. Penalties for late tax returns   If the total of your capital losses is more than the total of your capital gains, the difference is deductible. Penalties for late tax returns But there are limits on how much loss you can deduct and when you can deduct it. Penalties for late tax returns See Treatment of Capital Losses next. Penalties for late tax returns Treatment of Capital Losses If your capital losses are more than your capital gains, you must claim the difference even if you do not have ordinary income to offset it. Penalties for late tax returns For taxpayers other than corporations, the yearly limit on the capital loss you can deduct is $3,000 ($1,500 if you are married and file a separate return). Penalties for late tax returns If your other income is low, you may not be able to use the full $3,000. Penalties for late tax returns The part of the $3,000 you cannot use becomes part of your capital loss carryover (discussed next). Penalties for late tax returns Capital loss carryover. Penalties for late tax returns   Generally, you have a capital loss carryover if either of the following situations applies to you. Penalties for late tax returns Your net loss on Schedule D (Form 1040), is more than the yearly limit. Penalties for late tax returns Your taxable income without your deduction for exemptions is less than zero. Penalties for late tax returns If either of these situations applies to you for 2013, see Capital Losses under Reporting Capital Gains and Losses in chapter 4 of Publication 550 to figure the amount you can carry over to 2014. Penalties for late tax returns    To figure your capital loss carryover from 2013 to 2014, you will need a copy of your 2013 Form 1040 and Schedule D (Form 1040). Penalties for late tax returns Capital Gains Tax Rates The tax rates that apply to a net capital gain are generally lower than the tax rates that apply to other income. Penalties for late tax returns These lower rates are called the maximum capital gains rates. Penalties for late tax returns The term “net capital gain” means the amount by which your net long-term capital gain for the year is more than your net short-term capital loss. Penalties for late tax returns See Schedule D (Form 1040) and the Instructions for Schedule D (Form 1040). Penalties for late tax returns Also see Publication 550. Penalties for late tax returns Noncapital Assets Noncapital assets include property such as inventory and depreciable property used in a trade or business. Penalties for late tax returns A list of properties that are not capital assets is provided in the Instructions for Schedule D (Form 1040). Penalties for late tax returns Property held for sale in the ordinary course of your farm business. Penalties for late tax returns   Property you hold mainly for sale to customers, such as livestock, poultry, livestock products, and crops, is a noncapital asset. Penalties for late tax returns Gain or loss from sales or other dispositions of this property is reported on Schedule F (Form 1040) (not on Schedule D (Form 1040) or Form 4797). Penalties for late tax returns The treatment of this property is discussed in chapter 3. Penalties for late tax returns Land and depreciable properties. Penalties for late tax returns   Land and depreciable property you use in farming are not capital assets. Penalties for late tax returns Noncapital assets also include livestock held for draft, breeding, dairy, or sporting purposes. Penalties for late tax returns However, your gains and losses from sales and exchanges of your farmland and depreciable properties must be considered together with certain other transactions to determine whether the gains and losses are treated as capital or ordinary gains and losses. Penalties for late tax returns The sales of these business assets are reported on Form 4797. Penalties for late tax returns See chapter 9 for more information. Penalties for late tax returns Hedging (Commodity Futures) Hedging transactions are transactions that you enter into in the normal course of business primarily to manage the risk of interest rate or price changes, or currency fluctuations, with respect to borrowings, ordinary property, or ordinary obligations. Penalties for late tax returns Ordinary property or obligations are those that cannot produce capital gain or loss if sold or exchanged. Penalties for late tax returns A commodity futures contract is a standardized, exchange-traded contract for the sale or purchase of a fixed amount of a commodity at a future date for a fixed price. Penalties for late tax returns The holder of an option on a futures contract has the right (but not the obligation) for a specified period of time to enter into a futures contract to buy or sell at a particular price. Penalties for late tax returns A forward contract is generally similar to a futures contract except that the terms are not standardized and the contract is not exchange traded. Penalties for late tax returns Businesses may enter into commodity futures contracts or forward contracts and may acquire options on commodity futures contracts as either of the following. Penalties for late tax returns Hedging transactions. Penalties for late tax returns Transactions that are not hedging transactions. Penalties for late tax returns Futures transactions with exchange-traded commodity futures contracts that are not hedging transactions, generally, result in capital gain or loss and are subject to the mark-to-market rules discussed in Publication 550. Penalties for late tax returns There is a limit on the amount of capital losses you can deduct each year. Penalties for late tax returns Hedging transactions are not subject to the mark-to-market rules. Penalties for late tax returns If, as a farmer-producer, to protect yourself from the risk of unfavorable price fluctuations, you enter into commodity forward contracts, futures contracts, or options on futures contracts and the contracts cover an amount of the commodity within your range of production, the transactions are generally considered hedging transactions. Penalties for late tax returns They can take place at any time you have the commodity under production, have it on hand for sale, or reasonably expect to have it on hand. Penalties for late tax returns The gain or loss on the termination of these hedges is generally ordinary gain or loss. Penalties for late tax returns Farmers who file their income tax returns on the cash method report any profit or loss on the hedging transaction on Schedule F, line 8. Penalties for late tax returns Gains or losses from hedging transactions that hedge supplies of a type regularly used or consumed in the ordinary course of your trade or business may be ordinary gains or losses. Penalties for late tax returns Examples include fuel and feed. Penalties for late tax returns If you have numerous transactions in the commodity futures market during the year, you must be able to show which transactions are hedging transactions. Penalties for late tax returns Clearly identify a hedging transaction on your books and records before the end of the day you entered into the transaction. Penalties for late tax returns It may be helpful to have separate brokerage accounts for your hedging and speculation transactions. Penalties for late tax returns Retain the identification of each hedging transaction with your books and records. Penalties for late tax returns Also, identify the item(s) or aggregate risk that is being hedged in your records. Penalties for late tax returns Although the identification of the hedging transaction must be made before the end of the day it was entered into, you have 35 days after entering into the transaction to identify the hedged item(s) or risk. Penalties for late tax returns For more information on the tax treatment of futures and options contracts, see Commodity Futures and Section 1256 Contracts Marked to Market in Publication 550. Penalties for late tax returns Accounting methods for hedging transactions. Penalties for late tax returns   The accounting method you use for a hedging transaction must clearly reflect income. Penalties for late tax returns This means that your accounting method must reasonably match the timing of income, deduction, gain, or loss from a hedging transaction with the timing of income, deduction, gain, or loss from the item or items being hedged. Penalties for late tax returns There are requirements and limits on the method you can use for certain hedging transactions. Penalties for late tax returns See Regulations section 1. Penalties for late tax returns 446-4(e) for those requirements and limits. Penalties for late tax returns   Hedging transactions must be accounted for under the rules stated above unless the transaction is subject to mark-to-market accounting under section 475 or you use an accounting method other than the following methods. Penalties for late tax returns Cash method. Penalties for late tax returns Farm-price method. Penalties for late tax returns Unit-livestock-price method. Penalties for late tax returns   Once you adopt a method, you must apply it consistently and must have IRS approval before changing it. Penalties for late tax returns   Your books and records must describe the accounting method used for each type of hedging transaction. Penalties for late tax returns They must also contain any additional identification necessary to verify the application of the accounting method you used for the transaction. Penalties for late tax returns You must make the additional identification no more than 35 days after entering into the hedging transaction. Penalties for late tax returns Example of a hedging transaction. Penalties for late tax returns   You file your income tax returns on the cash method. Penalties for late tax returns On July 2 you anticipate a yield of 50,000 bushels of corn this year. Penalties for late tax returns The December futures price is $5. Penalties for late tax returns 75 a bushel, but there are indications that by harvest time the price will drop. Penalties for late tax returns To protect yourself against a drop in the price, you enter into the following hedging transaction. Penalties for late tax returns You sell ten December futures contracts of 5,000 bushels each for a total of 50,000 bushels of corn at $5. Penalties for late tax returns 75 a bushel. Penalties for late tax returns   The price did not drop as anticipated but rose to $6 a bushel. Penalties for late tax returns In November, you sell your crop at a local elevator for $6 a bushel. Penalties for late tax returns You also close out your futures position by buying ten December contracts for $6 a bushel. Penalties for late tax returns You paid a broker's commission of $1,400 ($70 per contract) for the complete in and out position in the futures market. Penalties for late tax returns   The result is that the price of corn rose 25 cents a bushel and the actual selling price is $6 a bushel. Penalties for late tax returns Your loss on the hedge is 25 cents a bushel. Penalties for late tax returns In effect, the net selling price of your corn is $5. Penalties for late tax returns 75 a bushel. Penalties for late tax returns   Report the results of your futures transactions and your sale of corn separately on Schedule F. Penalties for late tax returns See the instructions for the 2013 Schedule F (Form 1040). Penalties for late tax returns   The loss on your futures transactions is $13,900, figured as follows. Penalties for late tax returns July 2 - Sold December corn futures (50,000 bu. Penalties for late tax returns @$5. Penalties for late tax returns 75) $287,500 November 6 - Bought December corn futures (50,000 bu. Penalties for late tax returns @$6 plus $1,400 broker's commission) 301,400 Futures loss ($13,900) This loss is reported as a negative figure on Schedule F, Part I, line 8, as other income. Penalties for late tax returns   The proceeds from your corn sale at the local elevator are $300,000 (50,000 bu. Penalties for late tax returns × $6). Penalties for late tax returns Report it on Schedule F, Part I, line 2, as income from sales of products you raised. Penalties for late tax returns   Assume you were right and the price went down 25 cents a bushel. Penalties for late tax returns In effect, you would still net $5. Penalties for late tax returns 75 a bushel, figured as follows. Penalties for late tax returns Sold cash corn, per bushel $5. Penalties for late tax returns 50 Gain on hedge, per bushel . Penalties for late tax returns 25 Net price, per bushel $5. Penalties for late tax returns 75       The gain on your futures transactions would have been $11,100, figured as follows. Penalties for late tax returns July 2 - Sold December corn futures (50,000 bu. Penalties for late tax returns @$5. Penalties for late tax returns 75) $287,500 November 6 - Bought December corn futures (50,000 bu. Penalties for late tax returns @$5. Penalties for late tax returns 50 plus $1,400 broker's commission) 276,400 Futures gain $11,100 The $11,100 is reported on Schedule F, Part I, line 8, as other income. Penalties for late tax returns   The proceeds from the sale of your corn at the local elevator, $275,000, are reported on Schedule F, Part I, line 2, as income from sales of products you raised. Penalties for late tax returns Livestock This part discusses the sale or exchange of livestock used in your farm business. Penalties for late tax returns Gain or loss from the sale or exchange of this livestock may qualify as a section 1231 gain or loss. Penalties for late tax returns However, any part of the gain that is ordinary income from the recapture of depreciation is not included as section 1231 gain. Penalties for late tax returns See chapter 9 for more information on section 1231 gains and losses and the recapture of depreciation under section 1245. Penalties for late tax returns The rules discussed here do not apply to the sale of livestock held primarily for sale to customers. Penalties for late tax returns The sale of this livestock is reported on Schedule F. Penalties for late tax returns See chapter 3. Penalties for late tax returns Also, special rules apply to sales or exchanges caused by weather-related conditions. Penalties for late tax returns See chapter 3. Penalties for late tax returns Holding period. Penalties for late tax returns   The sale or exchange of livestock used in your farm business (defined below) qualifies as a section 1231 transaction if you held the livestock for 12 months or more (24 months or more for horses and cattle). Penalties for late tax returns Livestock. Penalties for late tax returns   For section 1231 transactions, livestock includes cattle, hogs, horses, mules, donkeys, sheep, goats, fur-bearing animals, and other mammals. Penalties for late tax returns Also, for section 1231 transactions, livestock does not include chickens, turkeys, pigeons, geese, emus, ostriches, rheas, or other birds, fish, frogs, reptiles, etc. Penalties for late tax returns Livestock used in farm business. Penalties for late tax returns   If livestock is held primarily for draft, breeding, dairy, or sporting purposes, it is used in your farm business. Penalties for late tax returns The purpose for which an animal is held ordinarily is determined by a farmer's actual use of the animal. Penalties for late tax returns An animal is not held for draft, breeding, dairy, or sporting purposes merely because it is suitable for that purpose, or because it is held for sale to other persons for use by them for that purpose. Penalties for late tax returns However, a draft, breeding, or sporting purpose may be present if an animal is disposed of within a reasonable time after it is prevented from its intended use or made undesirable as a result of an accident, disease, drought, or unfitness of the animal. Penalties for late tax returns Example 1. Penalties for late tax returns You discover an animal that you intend to use for breeding purposes is sterile. Penalties for late tax returns You dispose of it within a reasonable time. Penalties for late tax returns This animal was held for breeding purposes. Penalties for late tax returns Example 2. Penalties for late tax returns You retire and sell your entire herd, including young animals that you would have used for breeding or dairy purposes had you remained in business. Penalties for late tax returns These young animals were held for breeding or dairy purposes. Penalties for late tax returns Also, if you sell young animals to reduce your breeding or dairy herd because of drought, these animals are treated as having been held for breeding or dairy purposes. Penalties for late tax returns See Sales Caused by Weather-Related Conditions in chapter 3. Penalties for late tax returns Example 3. Penalties for late tax returns You are in the business of raising hogs for slaughter. Penalties for late tax returns Customarily, before selling your sows, you obtain a single litter of pigs that you will raise for sale. Penalties for late tax returns You sell the brood sows after obtaining the litter. Penalties for late tax returns Even though you hold these brood sows for ultimate sale to customers in the ordinary course of your business, they are considered to be held for breeding purposes. Penalties for late tax returns Example 4. Penalties for late tax returns You are in the business of raising registered cattle for sale to others for use as breeding cattle. Penalties for late tax returns The business practice is to breed the cattle before sale to establish their fitness as registered breeding cattle. Penalties for late tax returns Your use of the young cattle for breeding purposes is ordinary and necessary for selling them as registered breeding cattle. Penalties for late tax returns Such use does not demonstrate that you are holding the cattle for breeding purposes. Penalties for late tax returns However, those cattle you held as additions or replacements to your own breeding herd to produce calves are considered to be held for breeding purposes, even though they may not actually have produced calves. Penalties for late tax returns The same applies to hog and sheep breeders. Penalties for late tax returns Example 5. Penalties for late tax returns You breed, raise, and train horses for racing purposes. Penalties for late tax returns Every year you cull horses from your racing stable. Penalties for late tax returns In 2013, you decided that to prevent your racing stable from getting too large to be effectively operated, you must cull six horses that had been raced at public tracks in 2012. Penalties for late tax returns These horses are all considered held for sporting purposes. Penalties for late tax returns Figuring gain or loss on the cash method. Penalties for late tax returns   Farmers or ranchers who use the cash method of accounting figure their gain or loss on the sale of livestock used in their farming business as follows. Penalties for late tax returns Raised livestock. Penalties for late tax returns   Gain on the sale of raised livestock is generally the gross sales price reduced by any expenses of the sale. Penalties for late tax returns Expenses of sale include sales commissions, freight or hauling from farm to commission company, and other similar expenses. Penalties for late tax returns The basis of the animal sold is zero if the costs of raising it were deducted during the years the animal was being raised. Penalties for late tax returns However, see Uniform Capitalization Rules in chapter 6. Penalties for late tax returns Purchased livestock. Penalties for late tax returns   The gross sales price minus your adjusted basis and any expenses of sale is the gain or loss. Penalties for late tax returns Example. Penalties for late tax returns A farmer sold a breeding cow on January 8, 2013, for $1,250. Penalties for late tax returns Expenses of the sale were $125. Penalties for late tax returns The cow was bought July 2, 2009, for $1,300. Penalties for late tax returns Depreciation (not less than the amount allowable) was $867. Penalties for late tax returns Gross sales price $1,250 Cost (basis) $1,300   Minus: Depreciation deduction 867   Unrecovered cost (adjusted basis) $ 433   Expense of sale 125 558 Gain realized $ 692 Converted Wetland and Highly Erodible Cropland Special rules apply to dispositions of land converted to farming use after March 1, 1986. Penalties for late tax returns Any gain realized on the disposition of converted wetland or highly erodible cropland is treated as ordinary income. Penalties for late tax returns Any loss on the disposition of such property is treated as a long-term capital loss. Penalties for late tax returns Converted wetland. Penalties for late tax returns   This is generally land that was drained or filled to make the production of agricultural commodities possible. Penalties for late tax returns It includes converted wetland held by the person who originally converted it or held by any other person who used the converted wetland at any time after conversion for farming. Penalties for late tax returns   A wetland (before conversion) is land that meets all the following conditions. Penalties for late tax returns It is mostly soil that, in its undrained condition, is saturated, flooded, or ponded long enough during a growing season to develop an oxygen-deficient state that supports the growth and regeneration of plants growing in water. Penalties for late tax returns It is saturated by surface or groundwater at a frequency and duration sufficient to support mostly plants that are adapted for life in saturated soil. Penalties for late tax returns It supports, under normal circumstances, mostly plants that grow in saturated soil. Penalties for late tax returns Highly erodible cropland. Penalties for late tax returns   This is cropland subject to erosion that you used at any time for farming purposes other than grazing animals. Penalties for late tax returns Generally, highly erodible cropland is land currently classified by the Department of Agriculture as Class IV, VI, VII, or VIII under its classification system. Penalties for late tax returns Highly erodible cropland also includes land that would have an excessive average annual erosion rate in relation to the soil loss tolerance level, as determined by the Department of Agriculture. Penalties for late tax returns Successor. Penalties for late tax returns   Converted wetland or highly erodible cropland is also land held by any person whose basis in the land is figured by reference to the adjusted basis of a person in whose hands the property was converted wetland or highly erodible cropland. Penalties for late tax returns Timber Standing timber you held as investment property is a capital asset. Penalties for late tax returns Gain or loss from its sale is capital gain or loss reported on Form 8949 and Schedule D (Form 1040), as applicable. Penalties for late tax returns If you held the timber primarily for sale to customers, it is not a capital asset. Penalties for late tax returns Gain or loss on its sale is ordinary business income or loss. Penalties for late tax returns It is reported on Schedule F, line 1 (purchased timber) or line 2 (raised timber). Penalties for late tax returns See the Instructions for Schedule F (Form 1040). Penalties for late tax returns Farmers who cut timber on their land and sell it as logs, firewood, or pulpwood usually have no cost or other basis for that timber. Penalties for late tax returns Amounts realized from these sales, and the expenses incurred in cutting, hauling, etc. Penalties for late tax returns , are ordinary farm income and expenses reported on Schedule F. Penalties for late tax returns Different rules apply if you owned the timber longer than 1 year and elect to treat timber cutting as a sale or exchange or you enter into a cutting contract, discussed below. Penalties for late tax returns Timber considered cut. Penalties for late tax returns   Timber is considered cut on the date when, in the ordinary course of business, the quantity of felled timber is first definitely determined. Penalties for late tax returns This is true whether the timber is cut under contract or whether you cut it yourself. Penalties for late tax returns Christmas trees. Penalties for late tax returns   Evergreen trees, such as Christmas trees, that are more than 6 years old when severed from their roots and sold for ornamental purposes are included in the term timber. Penalties for late tax returns They qualify for both rules discussed below. Penalties for late tax returns Election to treat cutting as a sale or exchange. Penalties for late tax returns   Under the general rule, the cutting of timber results in no gain or loss. Penalties for late tax returns It is not until a sale or exchange occurs that gain or loss is realized. Penalties for late tax returns But if you owned or had a contractual right to cut timber, you can elect to treat the cutting of timber as a section 1231 transaction in the year it is cut. Penalties for late tax returns Even though the cut timber is not actually sold or exchanged, you report your gain or loss on the cutting for the year the timber is cut. Penalties for late tax returns Any later sale results in ordinary business income or loss. Penalties for late tax returns See the example below. Penalties for late tax returns   To elect this treatment, you must: Own or hold a contractual right to cut the timber for a period of more than 1 year before it is cut, and Cut the timber for sale or use in your trade or business. Penalties for late tax returns Making the election. Penalties for late tax returns   You make the election on your return for the year the cutting takes place by including in income the gain or loss on the cutting and including a computation of your gain or loss. Penalties for late tax returns You do not have to make the election in the first year you cut the timber. Penalties for late tax returns You can make it in any year to which the election would apply. Penalties for late tax returns If the timber is partnership property, the election is made on the partnership return. Penalties for late tax returns This election cannot be made on an amended return. Penalties for late tax returns   Once you have made the election, it remains in effect for all later years unless you revoke it. Penalties for late tax returns Election under section 631(a) may be revoked. Penalties for late tax returns   If you previously elected for any tax year ending before October 23, 2004, to treat the cutting of timber as a sale or exchange under section 631(a), you may revoke this election without the consent of the IRS for any tax year ending after October 22, 2004. Penalties for late tax returns The prior election (and revocation) is disregarded for purposes of making a subsequent election. Penalties for late tax returns See Form T (Timber), Forest Activities Schedule, for more information. Penalties for late tax returns Gain or loss. Penalties for late tax returns   Your gain or loss on the cutting of standing timber is the difference between its adjusted basis for depletion and its FMV on the first day of your tax year in which it is cut. Penalties for late tax returns   Your adjusted basis for depletion of cut timber is based on the number of units (board feet, log scale, or other units) of timber cut during the tax year and considered to be sold or exchanged. Penalties for late tax returns Your adjusted basis for depletion is also based on the depletion unit of timber in the account used for the cut timber, and should be figured in the same manner as shown in section 611 and Regulations section 1. Penalties for late tax returns 611-3. Penalties for late tax returns   Depletion of timber is discussed in chapter 7. Penalties for late tax returns Example. Penalties for late tax returns   In April 2013, you owned 4,000 MBF (1,000 board feet) of standing timber longer than 1 year. Penalties for late tax returns It had an adjusted basis for depletion of $40 per MBF. Penalties for late tax returns You are a calendar year taxpayer. Penalties for late tax returns On January 1, 2013, the timber had a FMV of $350 per MBF. Penalties for late tax returns It was cut in April for sale. Penalties for late tax returns On your 2013 tax return, you elect to treat the cutting of the timber as a sale or exchange. Penalties for late tax returns You report the difference between the FMV and your adjusted basis for depletion as a gain. Penalties for late tax returns This amount is reported on Form 4797 along with your other section 1231 gains and losses to figure whether it is treated as a capital gain or as ordinary gain. Penalties for late tax returns You figure your gain as follows. Penalties for late tax returns FMV of timber January 1, 2013 $1,400,000 Minus: Adjusted basis for depletion 160,000 Section 1231 gain $1,240,000   The FMV becomes your basis in the cut timber, and a later sale of the cut timber, including any by-product or tree tops, will result in ordinary business income or loss. Penalties for late tax returns Outright sales of timber. Penalties for late tax returns   Outright sales of timber by landowners qualify for capital gains treatment using rules similar to the rules for certain disposal of timber under a contract with retained economic interest (defined later). Penalties for late tax returns However, for outright sales, the date of disposal is not deemed to be the date the timber is cut because the landowner can elect to treat the payment date as the date of disposal (see Date of disposal below). Penalties for late tax returns Cutting contract. Penalties for late tax returns   You must treat the disposal of standing timber under a cutting contract as a section 1231 transaction if all the following apply to you. Penalties for late tax returns You are the owner of the timber. Penalties for late tax returns You held the timber longer than 1 year before its disposal. Penalties for late tax returns You kept an economic interest in the timber. Penalties for late tax returns   You have kept an economic interest in standing timber if, under the cutting contract, the expected return on your investment is conditioned on the cutting of the timber. Penalties for late tax returns   The difference between the amount realized from the disposal of the timber and its adjusted basis for depletion is treated as gain or loss on its sale. Penalties for late tax returns Include this amount on Form 4797 along with your other section 1231 gains or losses. Penalties for late tax returns Date of disposal. Penalties for late tax returns   The date of disposal is the date the timber is cut. Penalties for late tax returns However, for outright sales by landowners or if you receive payment under the contract before the timber is cut, you can elect to treat the date of payment as the date of disposal. Penalties for late tax returns   This election applies only to figure the holding period of the timber. Penalties for late tax returns It has no effect on the time for reporting gain or loss (generally when the timber is sold or exchanged). Penalties for late tax returns   To make this election, attach a statement to the tax return filed by the due date (including extensions) for the year payment is received. Penalties for late tax returns The statement must identify the advance payments subject to the election and the contract under which they were made. Penalties for late tax returns   If you timely filed your return for the year you received payment without making the election, you can still make the election by filing an amended return within 6 months after the due date for that year's return (excluding extensions). Penalties for late tax returns Attach the statement to the amended return and write “Filed pursuant to section 301. Penalties for late tax returns 9100-2” at the top of the statement. Penalties for late tax returns File the amended return at the same address the original return was filed. Penalties for late tax returns Owner. Penalties for late tax returns   An owner is any person who owns an interest in the timber, including a sublessor and the holder of a contract to cut the timber. Penalties for late tax returns You own an interest in timber if you have the right to cut it for sale on your own account or for use in your business. Penalties for late tax returns Tree stumps. Penalties for late tax returns   Tree stumps are a capital asset if they are on land held by an investor who is not in the timber or stump business as a buyer, seller, or processor. Penalties for late tax returns Gain from the sale of stumps sold in one lot by such a holder is taxed as a capital gain. Penalties for late tax returns However, tree stumps held by timber operators after the saleable standing timber was cut and removed from the land are considered by-products. Penalties for late tax returns Gain from the sale of stumps in lots or tonnage by such operators is taxed as ordinary income. Penalties for late tax returns   See Form T (Timber) and its separate instructions for more information about dispositions of timber. Penalties for late tax returns Sale of a Farm The sale of your farm will usually involve the sale of both nonbusiness property (your home) and business property (the land and buildings used in the farm operation and perhaps machinery and livestock). Penalties for late tax returns If you have a gain from the sale, you may be allowed to exclude the gain on your home. Penalties for late tax returns For more information, see Publication 523, Selling Your Home. Penalties for late tax returns The gain on the sale of your business property is taxable. Penalties for late tax returns A loss on the sale of your business property to an unrelated person is deducted as an ordinary loss. Penalties for late tax returns Your taxable gain or loss on the sale of property used in your farm business is taxed under the rules for section 1231 transactions. Penalties for late tax returns See chapter 9. Penalties for late tax returns Losses from personal-use property, other than casualty or theft losses, are not deductible. Penalties for late tax returns If you receive payments for your farm in installments, your gain is taxed over the period of years the payments are received, unless you elect not to use the installment method of reporting the gain. Penalties for late tax returns See chapter 10 for information about installment sales. Penalties for late tax returns When you sell your farm, the gain or loss on each asset is figured separately. Penalties for late tax returns The tax treatment of gain or loss on the sale of each asset is determined by the classification of the asset. Penalties for late tax returns Each of the assets sold must be classified as one of the following. Penalties for late tax returns Capital asset held 1 year or less. Penalties for late tax returns Capital asset held longer than 1 year. Penalties for late tax returns Property (including real estate) used in your business and held 1 year or less (including draft, breeding, dairy, and sporting animals held less than the holding periods discussed earlier under Livestock ). Penalties for late tax returns Property (including real estate) used in your business and held longer than 1 year (including only draft, breeding, dairy, and sporting animals held for the holding periods discussed earlier). Penalties for late tax returns Property held primarily for sale or which is of the kind that would be included in inventory if on hand at the end of your tax year. Penalties for late tax returns Allocation of consideration paid for a farm. Penalties for late tax returns   The sale of a farm for a lump sum is considered a sale of each individual asset rather than a single asset. Penalties for late tax returns The residual method is required only if the group of assets sold constitutes a trade or business. Penalties for late tax returns This method determines gain or loss from the transfer of each asset. Penalties for late tax returns It also determines the buyer's basis in the business assets. Penalties for late tax returns For more information, see Sale of a Business in chapter 2 of Publication 544. Penalties for late tax returns Property used in farm operation. Penalties for late tax returns   The rules for excluding the gain on the sale of your home, described later under Sale of your home , do not apply to the property used for your farming business. Penalties for late tax returns Recognized gains and losses on business property must be reported on your return for the year of the sale. Penalties for late tax returns If the property was held longer than 1 year, it may qualify for section 1231 treatment (see chapter 9). Penalties for late tax returns Example. Penalties for late tax returns You sell your farm, including your main home, which you have owned since December 2001. Penalties for late tax returns You realize gain on the sale as follows. Penalties for late tax returns   Farm   Farm   With Home Without   Home Only Home Selling price $382,000 $158,000 $224,000 Cost (or other basis) 240,000 110,000 130,000 Gain $142,000 $48,000 $94,000 You must report the $94,000 gain from the sale of the property used in your farm business. Penalties for late tax returns All or a part of that gain may have to be reported as ordinary income from the recapture of depreciation or soil and water conservation expenses. Penalties for late tax returns Treat the balance as section 1231 gain. Penalties for late tax returns The $48,000 gain from the sale of your home is not taxable as long as you meet the requirements explained later under Sale of your home . Penalties for late tax returns Partial sale. Penalties for late tax returns   If you sell only part of your farm, you must report any recognized gain or loss on the sale of that part on your tax return for the year of the sale. Penalties for late tax returns You cannot wait until you have sold enough of the farm to recover its entire cost before reporting gain or loss. Penalties for late tax returns For a detailed discussion on installment sales, see Publication 544. Penalties for late tax returns Adjusted basis of the part sold. Penalties for late tax returns   This is the properly allocated part of your original cost or other basis of the entire farm plus or minus necessary adjustments for improvements, depreciation, etc. Penalties for late tax returns , on the part sold. Penalties for late tax returns If your home is on the farm, you must properly adjust the basis to exclude those costs from your farm asset costs, as discussed below under Sale of your home . Penalties for late tax returns Example. Penalties for late tax returns You bought a 600-acre farm for $700,000. Penalties for late tax returns The farm included land and buildings. Penalties for late tax returns The purchase contract designated $600,000 of the purchase price to the land. Penalties for late tax returns You later sold 60 acres of land on which you had installed a fence. Penalties for late tax returns Your adjusted basis for the part of your farm sold is $60,000 (1/10 of $600,000), plus any unrecovered cost (cost not depreciated) of the fence on the 60 acres at the time of sale. Penalties for late tax returns Use this amount to determine your gain or loss on the sale of the 60 acres. Penalties for late tax returns Assessed values for local property taxes. Penalties for late tax returns   If you paid a flat sum for the entire farm and no other facts are available for properly allocating your original cost or other basis between the land and the buildings, you can use the assessed values for local property taxes for the year of purchase to allocate the costs. Penalties for late tax returns Example. Penalties for late tax returns Assume that in the preceding example there was no breakdown of the $700,000 purchase price between land and buildings. Penalties for late tax returns However, in the year of purchase, local taxes on the entire property were based on assessed valuations of $420,000 for land and $140,000 for improvements, or a total of $560,000. Penalties for late tax returns The assessed valuation of the land is 3/4 (75%) of the total assessed valuation. Penalties for late tax returns Multiply the $700,000 total purchase price by 75% to figure basis of $525,000 for the 600 acres of land. Penalties for late tax returns The unadjusted basis of the 60 acres you sold would then be $52,500 (1/10 of $525,000). Penalties for late tax returns Sale of your home. Penalties for late tax returns   Your home is a capital asset and not property used in the trade or business of farming. Penalties for late tax returns If you sell a farm that includes a house you and your family occupy, you must determine the part of the selling price and the part of the cost or other basis allocable to your home. Penalties for late tax returns Your home includes the immediate surroundings and outbuildings relating to it that are not used for business purposes. Penalties for late tax returns   If you use part of your home for business, you must make an appropriate adjustment to the basis for depreciation allowed or allowable. Penalties for late tax returns For more information on basis, see chapter 6. Penalties for late tax returns More information. Penalties for late tax returns   For more information on selling your home, see Publication 523. Penalties for late tax returns Gain from condemnation. Penalties for late tax returns   If you have a gain from a condemnation or sale under threat of condemnation, you may use the preceding rules for excluding the gain, rather than the rules discussed under Postponing Gain in chapter 11. Penalties for late tax returns However, any gain that cannot be excluded (because it is more than the limit) may be postponed under the rules discussed under Postponing Gain in chapter 11. Penalties for late tax returns Foreclosure or Repossession If you do not make payments you owe on a loan secured by property, the lender may foreclose on the loan or repossess the property. Penalties for late tax returns The foreclosure or repossession is treated as a sale or exchange from which you may realize gain or loss. Penalties for late tax returns This is true even if you voluntarily return the property to the lender. Penalties for late tax returns You may also realize ordinary income from cancellation of debt if the loan balance is more than the FMV of the property. Penalties for late tax returns Buyer's (borrower's) gain or loss. Penalties for late tax returns   You figure and report gain or loss from a foreclosure or repossession in the same way as gain or loss from a sale or exchange. Penalties for late tax returns The gain or loss is the difference between your adjusted basis in the transferred property and the amount realized. Penalties for late tax returns See Determining Gain or Loss , earlier. Penalties for late tax returns Worksheet 8-1. Penalties for late tax returns Worksheet for Foreclosures andRepossessions Part 1. Penalties for late tax returns Use Part 1 to figure your ordinary income from the cancellation of debt upon foreclosure or repossession. Penalties for late tax returns Complete this part only if you were personally liable for the debt. Penalties for late tax returns Otherwise, go to Part 2. Penalties for late tax returns   1. Penalties for late tax returns Enter the amount of outstanding debt immediately before the transfer of property reduced by any amount for which you remain personally liable after the transfer of property   2. Penalties for late tax returns Enter the Fair Market Value of the transferred property   3. Penalties for late tax returns Ordinary income from cancellation of debt upon foreclosure or repossession. Penalties for late tax returns * Subtract line 2 from line 1. Penalties for late tax returns If zero or less, enter -0-   Part 2. Penalties for late tax returns Figure your gain or loss from foreclosure or repossession. Penalties for late tax returns   4. Penalties for late tax returns If you completed Part 1, enter the smaller of line 1 or line 2. Penalties for late tax returns If you did not complete Part 1, enter the outstanding debt immediately before the transfer of property   5. Penalties for late tax returns Enter any proceeds you received from the foreclosure sale   6. Penalties for late tax returns Add lines 4 and 5   7. Penalties for late tax returns Enter the adjusted basis of the transferred property   8. Penalties for late tax returns Gain or loss from foreclosure or repossession. Penalties for late tax returns Subtract line 7  from line 6   * The income may not be taxable. Penalties for late tax returns See Cancellation of debt . Penalties for late tax returns    You can use Worksheet 8-1 to figure your gain or loss from a foreclosure or repossession. Penalties for late tax returns Amount realized on a nonrecourse debt. Penalties for late tax returns   If you are not personally liable for repaying the debt (nonrecourse debt) secured by the transferred property, the amount you realize includes the full amount of the debt canceled by the transfer. Penalties for late tax returns The full canceled debt is included in the amount realized even if the fair market value of the property is less than the canceled debt. Penalties for late tax returns Example 1. Penalties for late tax returns Ann paid $200,000 for land used in her farming business. Penalties for late tax returns She paid $15,000 down and borrowed the remaining $185,000 from a bank. Penalties for late tax returns Ann is not personally liable for the loan (nonrecourse debt), but pledges the land as security. Penalties for late tax returns The bank foreclosed on the loan 2 years after Ann stopped making payments. Penalties for late tax returns When the bank foreclosed, the balance due on the loan was $180,000 and the FMV of the land was $170,000. Penalties for late tax returns The amount Ann realized on the foreclosure was $180,000, the debt canceled by the foreclosure. Penalties for late tax returns She figures her gain or loss on Form 4797, Part I, by comparing the amount realized ($180,000) with her adjusted basis ($200,000). Penalties for late tax returns She has a $20,000 deductible loss. Penalties for late tax returns Example 2. Penalties for late tax returns Assume the same facts as in Example 1 except the FMV of the land was $210,000. Penalties for late tax returns The result is the same. Penalties for late tax returns The amount Ann realized on the foreclosure is $180,000, the debt canceled by the foreclosure. Penalties for late tax returns Because her adjusted basis is $200,000, she has a deductible loss of $20,000, which she reports on Form 4797, Part I. Penalties for late tax returns Amount realized on a recourse debt. Penalties for late tax returns   If you are personally liable for the debt (recourse debt), the amount realized on the foreclosure or repossession includes the lesser of: The outstanding debt immediately before the transfer reduced by any amount for which you remain personally liable immediately after the transfer, or The fair market value of the transferred property. Penalties for late tax returns   You are treated as receiving ordinary income from the canceled debt for the part of the debt that is more than the fair market value. Penalties for late tax returns The amount realized does not include the canceled debt that is your income from cancellation of debt. Penalties for late tax returns See Cancellation of debt , later. Penalties for late tax returns Example 3. Penalties for late tax returns Assume the same facts as in Example 1 above except Ann is personally liable for the loan (recourse debt). Penalties for late tax returns In this case, the amount she realizes is $170,000. Penalties for late tax returns This is the canceled debt ($180,000) up to the FMV of the land ($170,000). Penalties for late tax returns Ann figures her gain or loss on the foreclosure by comparing the amount realized ($170,000) with her adjusted basis ($200,000). Penalties for late tax returns She has a $30,000 deductible loss, which she figures on Form 4797, Part I. Penalties for late tax returns She is also treated as receiving ordinary income from cancellation of debt. Penalties for late tax returns That income is $10,000 ($180,000 − $170,000). Penalties for late tax returns This is the part of the canceled debt not included in the amount realized. Penalties for late tax returns She reports this as other income on Schedule F, line 8. Penalties for late tax returns Seller's (lender's) gain or loss on repossession. Penalties for late tax returns   If you finance a buyer's purchase of property and later acquire an interest in it through foreclosure or repossession, you may have a gain or loss on the acquisition. Penalties for late tax returns For more information, see Repossession in Publication 537, Installment Sales. Penalties for late tax returns Cancellation of debt. Penalties for late tax returns   If property that is repossessed or foreclosed upon secures a debt for which you are personally liable (recourse debt), you generally must report as ordinary income the amount by which the canceled debt is more than the FMV of the property. Penalties for late tax returns This income is separate from any gain or loss realized from the foreclosure or repossession. Penalties for late tax returns Report the income from cancellation of a business debt on Schedule F, line 8. Penalties for late tax returns Report the income from cancellation of a nonbusiness debt as miscellaneous income on Form 1040. Penalties for late tax returns    You can use Worksheet 8-1 to figure your income from cancellation of debt. Penalties for late tax returns   However, income from cancellation of debt is not taxed if any of the following apply. Penalties for late tax returns The cancellation is intended as a gift. Penalties for late tax returns The debt is qualified farm debt (see chapter 3). Penalties for late tax returns The debt is qualified real property business debt (see chapter 5 of Publication 334). Penalties for late tax returns You are insolvent or bankrupt (see  chapter 3). Penalties for late tax returns The debt is qualified principal residence indebtedness (see chapter 3). Penalties for late tax returns   Use Form 982 to report the income exclusion. Penalties for late tax returns Abandonment The abandonment of property is a disposition of property. Penalties for late tax returns You abandon property when you voluntarily and permanently give up possession and use of the property with the intention of ending your ownership, but without passing it on to anyone else. Penalties for late tax returns Business or investment property. Penalties for late tax returns   Loss from abandonment of business or investment property is deductible as a loss. Penalties for late tax returns Loss from abandonment of business or investment property that is not treated as a sale or exchange generally is an ordinary loss. Penalties for late tax returns If your adjusted basis is more than the amount you realize (if any), then you have a loss. Penalties for late tax returns If the amount you realize (if any) is more than your adjusted basis, then you have a gain. Penalties for late tax returns This rule also applies to leasehold improvements the lessor made for the lessee. Penalties for late tax returns However, if the property is foreclosed on or repossessed in lieu of abandonment, gain or loss is figured as discussed earlier under Foreclosure or Repossession . Penalties for late tax returns   If the abandoned property is secured by debt, special rules apply. Penalties for late tax returns The tax consequences of abandonment of property that secures a debt depend on whether you are personally liable for the debt (recourse debt) or were not personally liable for the debt (nonrecourse debt). Penalties for late tax returns For more information, see chapter 3 of Publication 4681, Canceled Debts, Foreclosures, Repossessions, and Abandonments (for Individuals). Penalties for late tax returns The abandonment loss is deducted in the tax year in which the loss is sustained. Penalties for late tax returns Report the loss on Form 4797, Part II, line 10. Penalties for late tax returns Personal-use property. Penalties for late tax returns   You cannot deduct any loss from abandonment of your home or other property held for personal use. Penalties for late tax returns Canceled debt. Penalties for late tax returns   If the abandoned property secures a debt for which you are personally liable and the debt is canceled, you will realize ordinary income equal to the canceled debt. Penalties for late tax returns This income is separate from any loss realized from abandonment of the property. Penalties for late tax returns Report income from cancellation of a debt related to a business or rental activity as business or rental income. Penalties for late tax returns Report income from cancellation of a nonbusiness debt as miscellaneous income on Form 1040. Penalties for late tax returns   However, income from cancellation of debt is not taxed in certain circumstances. Penalties for late tax returns See Cancellation of debt earlier under Foreclosure or Repossession . Penalties for late tax returns Forms 1099-A and 1099-C. Penalties for late tax returns   A lender who acquires an interest in your property in a foreclosure, repossession, or abandonment should send you Form 1099-A showing the information you need to figure your loss from the foreclosure, repossession, or abandonment. Penalties for late tax returns However, if the lender cancels part of your debt and the lender must file Form 1099-C, the lender may include the information about the foreclosure, repossession, or abandonment on that form instead of Form 1099-A. Penalties for late tax returns The lender must file Form 1099-C and send you a copy if the canceled debt is $600 or more and the lender is a financial institution, credit union, federal government agency, or any organization that has a significant trade or business of lending money. Penalties for late tax returns For foreclosures, repossessions, abandonments of property, and debt cancellations occurring in 2013, these forms should be sent to you by January 31, 2014. Penalties for late tax returns Prev  Up  Next   Home   More Online Publications
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Page Last Reviewed or Updated: 26-Mar-2014

 

The Penalties For Late Tax Returns

Penalties for late tax returns 1. Penalties for late tax returns   Información para la Presentación de la Declaración de Impuestos Table of Contents Qué Hay de Nuevo Recordatorios Introduction ¿Debo Presentar una Declaración?Individuos/Personas Físicas—En General Dependientes Determinados Hijos Menores de 19 Años de Edad o Estudiantes a Tiempo Completo Trabajadores por Cuenta Propia Extranjeros Quién Debe Presentar una Declaración ¿Qué Formulario Debo Usar?Formulario 1040EZ Formulario 1040A Formulario 1040 ¿Tengo que Presentar la Declaración en Papel? E-file del IRS ¿Cuándo Tengo que Presentar la Declaración?Servicios de entrega privados. Penalties for late tax returns Prórrogas del Plazo para Presentar la Declaración de Impuestos ¿Cómo Preparo la Declaración de Impuestos?¿Cuándo Declaro los Ingresos y Gastos? Número de Seguro Social Fondo para la Campaña Electoral Presidencial Cálculos Documentos Adjuntos Designación de un Tercero Firmas Preparador Remunerado Reembolsos Cantidad que Adeuda Donaciones Para Reducir la Deuda Pública Nombre y Dirección ¿Dónde Presento la Declaración? ¿Qué Ocurre Después de Presentar la Declaración?¿Qué Documentos Debo Mantener? ¿Por Qué Debe Mantener los Documentos? Tipo de Documentos que Debe Mantener Documentos Básicos Cuánto Tiempo Debe Mantener los Documentos Información sobre Reembolsos Intereses Sobre Reembolsos Cambio de Dirección ¿Qué Sucede Si Cometí un Error?Declaraciones Enmendadas y Reclamaciones de Reembolso Multas Robo de Identidad Qué Hay de Nuevo Estado civil para efectos de la declaración en el caso de matrimonios del mismo sexo. Penalties for late tax returns   Si tiene un cónyuge del mismo sexo con quien se casó en un estado (o país extranjero) que reconozca el matrimonio entre personas del mismo sexo, usted y su cónyuge generalmente tienen que usar el estado civil de casado que presenta la declaración conjuntamente o de casado que presenta la declaración por separado al completar la declaración de impuestos del año 2013, aun si usted y su cónyuge viven actualmente en un estado (o país extranjero) que no reconoce el matrimonio entre personas del mismo sexo. Penalties for late tax returns Vea la Publicación 501 para más información. Penalties for late tax returns Impuesto Adicional del Medicare. Penalties for late tax returns  A partir del año 2013, les corresponde un Impuesto Adicional del Medicare de 0. Penalties for late tax returns 9% a los salarios, la compensación conforme a la Rairoad Retirement Tax Act (Ley Tributaria de Jubilación Ferroviaria o RRTA, por sus siglas en inglés) y el ingreso sobre el trabajo por cuenta propia que están sujetos al impuesto Medicare. Penalties for late tax returns Este impuesto se le aplicará según su estado civil para efectos de la declaración cuando dichos ingresos excedan de cierta cantidad límite. Penalties for late tax returns Si desea más información, vea las Instrucciones para la línea 60 del Formulario 1040 y las Instrucciones para el Formulario 8959, ambas disponibles en inglés. Penalties for late tax returns Impuesto sobre los ingresos netos de inversión. Penalties for late tax returns  A partir del año 2013, usted quizás podría estar sujeto al impuesto sobre los ingresos netos de inversión (NIIT, por sus siglas en inglés). Penalties for late tax returns Este impuesto es el 3. Penalties for late tax returns 8% de la cantidad menor, entre los ingresos netos de inversión y la cantidad que exceda de su ingreso bruto ajustado modificado sobre una cantidad límite. Penalties for late tax returns Si desea más información, vea las Instrucciones para la línea 60 del Formulario 1040 y las Instrucciones para el Formulario 8960, ambas disponibles en inglés. Penalties for late tax returns Crédito reembolsable por impuesto mínimo de un año anterior. Penalties for late tax returns  La parte reembolsable del crédito por impuesto mínimo de un año anterior ya no está disponible. Penalties for late tax returns Quién tiene que hacer la declaración. Penalties for late tax returns  Por lo general, la cantidad de ingresos que puede recibir antes de tener que presentar una declaración de impuestos ha aumentado. Penalties for late tax returns Vea la Tabla 1-1, Tabla 1-2 y Tabla 1-3 para las cantidades específicas. Penalties for late tax returns Recordatorios Presentación electrónica. Penalties for late tax returns  En vez de presentar la declaración de impuestos en papel, puede presentar la declaración electrónicamente usando el sistema electrónico e-file del IRS. Penalties for late tax returns Cree su propio número de identificación personal (PIN, por sus siglas en inglés) y presente su declaración sin usar papel. Penalties for late tax returns Para más información, vea ¿Tengo que Presentar la Declaración en Papel? , más adelante. Penalties for late tax returns Cambio de dirección. Penalties for late tax returns  Si cambia de dirección, debe notificar al IRS. Penalties for late tax returns Puede utilizar el Formulario 8822, Change of Address (Cambio de dirección), en inglés, para notificarle al IRS sobre el cambio de dirección. Penalties for late tax returns Vea Cambio de Dirección , más adelante, bajo ¿Qué Ocurre Después de Presentar la Declaración? Anote su número de Seguro Social (SSN, por sus siglas en inglés). Penalties for late tax returns  Tiene que anotar su número de Seguro Social en los espacios correspondientes de su declaración de impuestos. Penalties for late tax returns Si presenta una declaración conjunta, anote los números de Seguro Social en el mismo orden en que aparecen los nombres. Penalties for late tax returns Depósito directo de su reembolso. Penalties for late tax returns  En vez de recibir un cheque, quizás pueda recibir su reembolso por medio de un depósito directo a su cuenta bancaria o cuenta en otra institución financiera. Penalties for late tax returns Vea el tema titulado Depósito Directo bajo Reembolsos, más adelante. Penalties for late tax returns Si elige que su reembolso sea depositado directamente en su cuenta, quizás pueda dividir el reembolso entre dos o tres cuentas. Penalties for late tax returns Pague por Internet o por teléfono. Penalties for late tax returns  Si debe impuestos adicionales, quizás pueda pagarlos electrónicamente o por teléfono. Penalties for late tax returns Vea el tema titulado Cómo Pagar , más adelante. Penalties for late tax returns Plan de pagos a plazos. Penalties for late tax returns  Si no puede pagar toda la cantidad que debe al presentar su declaración de impuestos, puede solicitar un plan de pagos a plazos mensuales. Penalties for late tax returns Vea más adelante el tema titulado Plan de Pagos a Plazos bajo Cantidad que Adeuda. Penalties for late tax returns Quizás pueda solicitar un plan de pagos por Internet si adeuda impuestos federales, intereses y multas. Penalties for late tax returns Prórroga automática de 6 meses. Penalties for late tax returns  Puede obtener una prórroga automática de 6 meses para presentar la declaración del impuesto si, no más tarde de la fecha de vencimiento del plazo para presentar la declaración, presenta el Formulario 4868(SP), Solicitud de Prórroga Automática para Presentar la Declaración del Impuesto sobre el Ingreso Personal de los Estados Unidos. Penalties for late tax returns Vea Prórroga Automática , más adelante. Penalties for late tax returns Servicio en zona de combate. Penalties for late tax returns  Si es miembro de las Fuerzas Armadas y prestó servicio en una zona de combate, o si prestó servicio en una zona de combate en apoyo de las Fuerzas Armadas, se le permite tiempo adicional para ocuparse de sus asuntos tributarios. Penalties for late tax returns Vea más adelante el tema titulado Personas que Prestan Servicio en Zona de Combate bajo ¿Cuándo Tengo que Presentar la Declaración? Número de identificación del contribuyente para adopción. Penalties for late tax returns  Si un niño fue puesto en su hogar con fines de adopción legal y usted no puede obtener un número de Seguro Social para el niño a tiempo para presentar su declaración de impuestos, quizás pueda obtener un número de identificación del contribuyente para adopción (ATIN, por sus siglas en inglés). Penalties for late tax returns Para más información, vea más adelante el tema titulado Número de Seguro Social . Penalties for late tax returns Número de identificación del contribuyente para extranjeros. Penalties for late tax returns  Si usted o su dependiente es extranjero no residente o extranjero residente que no posee ni tiene derecho a obtener un número de Seguro Social, presente al IRS el Formulario W-7(SP), Solicitud de Número de Identificación Personal del Contribuyente del Servicio de Impuestos Internos. Penalties for late tax returns Para más información, vea más adelante el tema titulado Número de Seguro Social . Penalties for late tax returns Documentos tributarios frívolos. Penalties for late tax returns  El IRS ha publicado una lista de posturas que se consideran frívolas. Penalties for late tax returns La multa por presentar una declaración frívola es $5,000. Penalties for late tax returns Además, la multa de $5,000 corresponderá a otros documentos frívolos. Penalties for late tax returns Para más información, vea Multas Civiles , más adelante. Penalties for late tax returns Introduction Este capítulo trata los siguientes temas: Si usted tiene que presentar una declaración de impuestos. Penalties for late tax returns Qué formulario debe usar. Penalties for late tax returns Cómo presentar su declaración electrónicamente. Penalties for late tax returns Cuándo, cómo y dónde presentar su declaración de impuestos. Penalties for late tax returns Qué ocurre si paga muy pocos o demasiados impuestos. Penalties for late tax returns Qué datos y documentos debe guardar y por cuánto tiempo debe guardarlos. Penalties for late tax returns Cómo puede cambiar una declaración de impuestos que ya presentó. Penalties for late tax returns ¿Debo Presentar una Declaración? Debe presentar una declaración de impuestos federales sobre el ingreso si es ciudadano o residente de los Estados Unidos o residente de Puerto Rico y reúne los requisitos para la presentación de la declaración para alguna de las siguientes categorías: Individuos/personas físicas en general. Penalties for late tax returns (Hay reglas especiales para cónyuges sobrevivientes, albaceas, administradores, representantes legales, ciudadanos y residentes estadounidenses que vivan fuera de los Estados Unidos, residentes de Puerto Rico e individuos con ingresos provenientes de territorios de los Estados Unidos). Penalties for late tax returns Dependientes. Penalties for late tax returns Determinados hijos menores de 19 años de edad o estudiantes a tiempo completo. Penalties for late tax returns Personas que trabajan por cuenta propia. Penalties for late tax returns Extranjeros. Penalties for late tax returns Los requisitos para la presentación de la declaración de impuestos para cada categoría se explican en este capítulo. Penalties for late tax returns Los requisitos para la presentación de la declaración de impuestos se aplican aun si no adeuda impuestos. Penalties for late tax returns Aunque no tenga que presentar una declaración, podría serle ventajoso hacerlo. Penalties for late tax returns Vea Quién Debe Presentar una Declaración , más adelante. Penalties for late tax returns Presente una sola declaración de impuestos federales sobre el ingreso para el año, independientemente de cuántos trabajos tuvo, cuántos Formularios W-2 recibió o en cuántos estados vivió durante el año. Penalties for late tax returns No presente más de un formulario original para el mismo año aun si no ha recibido su reembolso o si el IRS no se ha comunicado con usted desde que presentó la declaración. Penalties for late tax returns Individuos/Personas Físicas—En General Si es ciudadano estadounidense o residente, hay tres factores que determinan si tiene que presentar una declaración o no: Sus ingresos brutos, Su estado civil para efectos de la declaración y Su edad. Penalties for late tax returns Para saber si debe presentar una declaración, vea la Tabla 1-1, Tabla 1-2 y Tabla 1-3. Penalties for late tax returns Aunque ninguna tabla indique que tiene que presentar una declaración, tal vez necesite presentar una declaración para que le devuelvan dinero. Penalties for late tax returns (Vea Quién Debe Presentar una Declaración , más adelante). Penalties for late tax returns Ingresos brutos. Penalties for late tax returns   Los ingresos brutos incluyen todo ingreso que reciba en forma de dinero, bienes, propiedad y servicios que no esté exento de impuestos. Penalties for late tax returns Incluyen también ingresos provenientes de fuentes fuera de los Estados Unidos o provenientes de la venta de su vivienda principal (aunque pueda excluir una parte o la totalidad de los mismos). Penalties for late tax returns Incluya parte de los beneficios del Seguro Social si: Estuvo casado, presenta una declaración por separado y vivió con su cónyuge en algún momento durante el año 2013 o La mitad de los beneficios del Seguro Social, más los demás ingresos brutos y cualesquier intereses exentos de impuestos, son superiores a $25,000 ($32,000 si es casado que presenta una declaración conjunta). Penalties for late tax returns Si le corresponde el punto (1) o (2), consulte las instrucciones del Formulario 1040 ó 1040A, o la Publicación 915, Social Security and Equivalent Railroad Retirement Benefits (Beneficios del Seguro Social y beneficios equivalentes de la jubilación ferroviaria), en inglés, para calcular la parte de los beneficios del Seguro Social que tiene que incluir en los ingresos brutos. Penalties for late tax returns   Las clases de ingresos comunes se abordan en la Parte Dos de esta publicación. Penalties for late tax returns Ingresos de bienes gananciales. Penalties for late tax returns   Si está casado y su domicilio permanente está en un estado donde rigen las leyes de los bienes gananciales, la mitad de todo ingreso descrito por la ley estatal como ingreso de bienes gananciales puede ser considerada suya. Penalties for late tax returns Esto afecta sus impuestos federales, incluyendo si está obligado a presentar una declaración si no la presenta conjuntamente con su cónyuge. Penalties for late tax returns Para más información, vea la Publicación 555, Community Property (Comunidad de Bienes), en inglés. Penalties for late tax returns Sociedad doméstica en los estados de Nevada, Washington y California. Penalties for late tax returns   Una parte de una sociedad doméstica registrada en los estados de Nevada, Washington o California por lo general tiene que declarar la mitad de los ingresos de la comunidad formada por él/ella y su pareja. Penalties for late tax returns Vea la Publicación 555, en inglés. Penalties for late tax returns Personas que trabajan por cuenta propia. Penalties for late tax returns   Si trabaja por cuenta propia, su ingreso bruto incluye la cantidad de la línea 7 del Anexo C (Formulario 1040), Profit or Loss From Business (Ganancias y pérdidas de negocios), en inglés; la línea 1 del Anexo C-EZ (Formulario 1040), Net Profit From Business (Ganancias netas de negocios), en inglés; y la línea 9 del Anexo F (Formulario 1040), Profit or Loss From Farming (Pérdidas o ganancias agrícolas), en inglés. Penalties for late tax returns Vea más adelante el tema titulado Trabajadores por Cuenta Propia , para más información sobre los requisitos para presentar su declaración. Penalties for late tax returns    Si no declara todos sus ingresos del trabajo por cuenta propia, sus beneficios del Seguro Social podrían ser más bajos cuando se jubile. Penalties for late tax returns Estado civil para efectos de la declaración. Penalties for late tax returns   Su estado civil para efectos de la declaración se determina por su situación familiar y si es soltero o casado. Penalties for late tax returns Su estado civil se determina el último día de su año tributable, el cual es el 31 de diciembre para casi todos los contribuyentes. Penalties for late tax returns Vea el capítulo 2 para una explicación de cada estado civil para efectos de la declaración. Penalties for late tax returns Edad. Penalties for late tax returns   En general, si tiene 65 años de edad o es mayor a finales del año, puede tener un ingreso bruto mayor que el de otros contribuyentes antes de tener que presentar una declaración. Penalties for late tax returns Vea la Tabla 1-1 . Penalties for late tax returns Se considera que tiene 65 años de edad el día antes de cumplir los 65 años. Penalties for late tax returns Por ejemplo, si usted cumple 65 años el primero de enero de 2014, se considera que tiene 65 años de edad durante el año 2013. Penalties for late tax returns Tabla 1-1. Penalties for late tax returns Requisitos para la Presentación de la Declaración de Impuestos del Año 2013 para la Mayoría de los Contribuyentes SI su estado civil para efectos de la declaración es. Penalties for late tax returns . Penalties for late tax returns . Penalties for late tax returns Y al final del año 2013 usted tenía. Penalties for late tax returns . Penalties for late tax returns . Penalties for late tax returns * ENTONCES presente una declaración si  sus ingresos brutos   eran al menos. Penalties for late tax returns . Penalties for late tax returns . Penalties for late tax returns ** soltero menos de 65 años de edad $10,000     65 años de edad o más $11,500   casado que presenta una declaración conjunta*** menos de 65 años de edad (ambos cónyuges) $20,000     65 años de edad o más (un cónyuge) $21,200     65 años de edad o más (ambos cónyuges) $22,400   casado que presenta una declaración por separado cualquier edad $3,900   cabeza de familia menos de 65 años de edad $12,850     65 años de edad o más $14,350   viudo que reúne los requisitos con hijo dependiente menos de 65 años de edad $16,100     65 años de edad o más $17,300   * Si nació el primero de enero de 1949, se considera que tiene 65 años de edad al final del año 2013. Penalties for late tax returns ** Ingreso bruto significa todo ingreso que usted haya recibido en forma de dinero, bienes, propiedades y servicios que no esté exento de impuestos, incluyendo todo ingreso de fuentes fuera de los Estados Unidos o la venta de su vivienda principal (aun si puede excluir una parte o la totalidad de ese ingreso). Penalties for late tax returns No incluya los beneficios del Seguro Social a menos que (a) usted sea un contribuyente casado que presenta una declaración por separado y vivió con su cónyuge en cualquier momento de 2013 o (b) la mitad de los beneficios del Seguro Social más los demás ingresos brutos y todo interés exento de impuesto son superiores a $25,000 ($32,000 si es casado que presenta una declaración conjunta). Penalties for late tax returns Si le corresponde el punto (a) o (b), consulte las Instrucciones del Formulario 1040 ó 1040A, o la Publicación 915, en inglés, para calcular la parte tributable de los beneficios del Seguro Social que debe incluir en los ingresos brutos. Penalties for late tax returns El ingreso bruto incluye las ganancias, pero no las pérdidas, que se declaran en el Formulario 8949 o el Anexo D. Penalties for late tax returns El ingreso bruto del negocio por cuenta propia, por ejemplo, es la cantidad que se incluye en la línea 7 del Anexo C o en la línea 9 del Anexo F. Penalties for late tax returns Al calcular el ingreso bruto no reduzca éste por las pérdidas incurridas, incluyendo las pérdidas que se incluyen en la línea 7 del Anexo C o en la línea 9 del Anexo F. Penalties for late tax returns *** Si no vivía con su cónyuge al final del año 2013 (o en la fecha en que falleció su cónyuge) y su ingreso bruto era al menos $3,900, debe presentar una declaración independientemente de su edad. Penalties for late tax returns Cónyuges Sobrevivientes, Albaceas, Administradores y Representantes Legales Usted tiene que presentar una declaración de impuestos final para el fallecido (persona que murió) si se cumplen las dos condiciones siguientes: Usted es el cónyuge sobreviviente, albacea, administrador o representante legal. Penalties for late tax returns El fallecido reunía los requisitos para presentar una declaración de impuestos en la fecha de su muerte. Penalties for late tax returns Vea la Publicación 559, Survivors, Executors, and Administrators (Sobrevivientes, albaceas y administradores), en inglés, para más información sobre los requisitos de presentación de la declaración final de un fallecido. Penalties for late tax returns Ciudadanos de los Estados Unidos y Residentes Extranjeros que Viven Fuera de los Estados Unidos Para determinar si tiene que presentar una declaración, incluya todo ingreso bruto que recibió en el extranjero, incluyendo todo ingreso que pueda excluir bajo la exclusión de ingreso ganado en el extranjero. Penalties for late tax returns Para información sobre las reglas de impuestos especiales que le podrían corresponder, vea la Publicación 54, Tax Guide for U. Penalties for late tax returns S. Penalties for late tax returns Citizens and Resident Aliens Abroad (Guía tributaria para ciudadanos de los Estados Unidos y residentes extranjeros que residen en el extranjero), en inglés. Penalties for late tax returns Está disponible en IRS. Penalties for late tax returns gov y casi todas las embajadas y consulados de los Estados Unidos. Penalties for late tax returns Vea Cómo Obtener Ayuda con los Impuestos , al final de esta publicación. Penalties for late tax returns Residentes de Puerto Rico Si es ciudadano estadounidense y también es residente bona fide de Puerto Rico, por lo general, debe presentar una declaración de impuestos sobre el ingreso de los Estados Unidos para todo año que cumple con los requisitos de ingreso. Penalties for late tax returns Este requisito es adicional a todo requisito legal que pueda tener de presentar una declaración de impuestos sobre el ingreso de Puerto Rico. Penalties for late tax returns Si es residente bona fide de Puerto Rico durante todo el año, el ingreso bruto en los Estados Unidos no incluye ingresos provenientes de fuentes dentro de Puerto Rico. Penalties for late tax returns Sin embargo, sí incluye todo ingreso que recibió por sus servicios como empleado de los Estados Unidos o de una agencia de los Estados Unidos. Penalties for late tax returns Si recibe ingresos provenientes de fuentes de Puerto Rico que no estén sujetos a impuestos estadounidenses, debe reducir la deducción estándar. Penalties for late tax returns Como resultado, la cantidad de ingresos que debe tener para estar obligado a presentar una declaración de impuestos sobre el ingreso de los Estados Unidos es menor que la cantidad correspondiente en la Tabla 1-1 o la Tabla 1-2. Penalties for late tax returns Para obtener más información, vea la Publicación 570, Tax Guide for Individuals With Income From U. Penalties for late tax returns S. Penalties for late tax returns Possessions (Guía tributaria para individuos con ingresos de territorios de los Estados Unidos), en inglés. Penalties for late tax returns Individuos con Ingresos Provenientes de Territorios de los Estados Unidos Si tuvo ingresos provenientes de Guam, la Comunidad de Naciones de las Islas Marianas del Norte, la Samoa Estadounidense o las Islas Vírgenes Estadounidenses, le podrían corresponder reglas especiales para determinar si debe presentar una declaración de impuestos federales estadounidenses sobre el ingreso. Penalties for late tax returns Además, tal vez tenga que presentar una declaración al gobierno de la isla en cuestión. Penalties for late tax returns Para más información, vea la Publicación 570, en inglés. Penalties for late tax returns Tabla 1-2. Penalties for late tax returns Requisitos para la Presentación de la Declaración para Dependientes en el año 2013 Vea el capítulo 3 para saber si alguien puede reclamarlo a usted como dependiente. Penalties for late tax returns Si sus padres (u otra persona) pueden reclamarlo a usted como dependiente, use esta tabla para saber si tiene que presentar una declaración. Penalties for late tax returns (Consulte la Tabla 1-3 para ver otras situaciones en las que debe presentar una declaración). Penalties for late tax returns En esta tabla, el ingreso del trabajo incluye sueldos, salarios, propinas y honorarios profesionales. Penalties for late tax returns Además incluye becas de estudios y de desarrollo profesional sujetas a impuestos. Penalties for late tax returns (Vea el tema titulado Becas de estudios y becas de desarrollo profesional, en el capítulo 12). Penalties for late tax returns El ingreso no derivado del trabajo incluye ingresos relacionados con las inversiones, como intereses tributables, dividendos ordinarios y distribuciones de ganancias de capital. Penalties for late tax returns Esto también incluye la compensación por desempleo, beneficios tributables del Seguro Social, pensiones, anualidades, cancelaciones de deudas y distribuciones de ingresos no derivados del trabajo provenientes de un fideicomiso. Penalties for late tax returns El ingreso bruto es el total del ingreso del trabajo e ingresos no derivados del trabajo. Penalties for late tax returns   Dependientes solteros—¿Tenía usted 65 años de edad o más o estaba ciego? □ No. Penalties for late tax returns Debe presentar una declaración de impuestos si alguna de las siguientes situaciones le corresponde:     • Sus ingresos no derivados del trabajo eran mayores de $1,000. Penalties for late tax returns     • Su ingreso del trabajo era mayor de $6,100. Penalties for late tax returns     • Sus ingresos brutos eran superiores a la mayor de las siguientes cantidades:       • $1,000 o       • Su ingreso del trabajo (hasta $5,750) más $350. Penalties for late tax returns □ Sí. Penalties for late tax returns Debe presentar una declaración de impuestos si alguna de las siguientes situaciones le corresponde:     • Sus ingresos no derivados del trabajo eran mayores de $2,500 ($4,000 si tenía 65 años de edad o más y estaba ciego). Penalties for late tax returns     • Su ingreso del trabajo era mayor de $7,600 ($9,100 si tenía 65 años de edad o más y estaba ciego). Penalties for late tax returns     • Sus ingresos brutos eran superiores a la mayor de las siguientes cantidades:       • $2,500 ($4,000 si tenía 65 años de edad o más y estaba ciego) o       • Su ingreso del trabajo (hasta $5,750) más $1,850 ($3,350 si tenía 65 años de edad o más y estaba ciego). Penalties for late tax returns Dependientes casados —¿Tenia usted 65 años de edad o más o estaba ciego? □ No. Penalties for late tax returns Debe presentar una declaración de impuestos si alguna de las siguientes situaciones le corresponde:     • Sus ingresos no derivados del trabajo eran mayores de $1,000. Penalties for late tax returns     • Su ingreso del trabajo era mayor de $6,100. Penalties for late tax returns     • Su ingreso bruto era de por lo menos $5, su cónyuge presenta una declaración de impuestos por separado y detalla sus deducciones. Penalties for late tax returns     • Sus ingresos brutos eran superiores a la mayor de las siguientes cantidades:       • $1,000 o       • Su ingreso del trabajo (hasta $5,750) más $350. Penalties for late tax returns □ Sí. Penalties for late tax returns Debe presentar una declaración de impuestos si alguna de las siguientes situaciones le corresponde:     • Sus ingresos no derivados del trabajo eran mayores de $2,200 ($3,400 si tenía 65 años de edad o más y estaba ciego). Penalties for late tax returns     • Su ingreso del trabajo era mayor de $7,300 ($8,500 si tenía 65 años de edad o más y estaba ciego). Penalties for late tax returns     • Su ingreso bruto era de por lo menos $5, su cónyuge presenta una declaración de impuestos por separado y detalla sus deducciones. Penalties for late tax returns     • Sus ingresos brutos eran superiores a la mayor de las siguientes cantidades:       • $2,200 ($3,400 si tenía 65 años de edad o más y estaba ciego) o       • Su ingreso del trabajo (hasta $5,750) más $1,550 ($2,750 si tenía 65 años de edad o más y estaba ciego). Penalties for late tax returns Dependientes Si es dependiente (una persona que cumple los requisitos para ser declarada como dependiente según se indica en el capítulo 3), vea la Tabla 1-2 para determinar si debe presentar una declaración. Penalties for late tax returns También debe presentar una declaración si su situación se describe en la Tabla 1-3. Penalties for late tax returns Responsabilidad del padre o madre. Penalties for late tax returns   En general, un hijo tiene el deber de presentar su propia declaración de impuestos y pagar los impuestos correspondientes. Penalties for late tax returns Si un hijo dependiente debe presentar una declaración de impuestos sobre el ingreso pero no puede presentarla, debido a la edad o por cualquier otra razón, el padre o madre, tutor u otra persona responsable por ley de ese dependiente debe presentarla de parte del hijo. Penalties for late tax returns Si el hijo no puede firmar la declaración, el padre o madre o tutor debe firmar el nombre del hijo junto a las palabras: “ By (your signature), parent for minor child. Penalties for late tax returns ” (Por (su firma), padre de un hijo menor). Penalties for late tax returns Ingresos de un hijo. Penalties for late tax returns   Las cantidades que un hijo gana por prestar servicios se incluyen en el ingreso bruto de él o ella pero no en el ingreso bruto del padre o la madre. Penalties for late tax returns Esto es cierto aun si bajo las leyes locales los padres del hijo tienen derecho a los ingresos e incluso si los han recibido. Penalties for late tax returns Pero si el hijo no paga los impuestos adeudados sobre este ingreso, el padre o la madre es responsable de pagar los impuestos. Penalties for late tax returns Determinados Hijos Menores de 19 Años de Edad o Estudiantes a Tiempo Completo Si los únicos ingresos de un hijo son intereses y dividendos (incluyendo distribuciones de ganancias de capital y dividendos del Alaska Permanent Fund (Fondo Permanente de Alaska), el hijo tenía menos de 19 años de edad al finalizar el año 2013 o era estudiante a tiempo completo y tenía menos de 24 años al finalizar el año 2013, y reúne otras condiciones adicionales, el padre o la madre puede elegir la opción de incluir el ingreso del hijo en la declaración del padre o madre. Penalties for late tax returns Si los padres eligen esta opción, el hijo no tiene que presentar una declaración. Penalties for late tax returns Vea el tema Elección de los Padres de Declarar los Intereses y Dividendos del Hijo , en el capítulo 31. Penalties for late tax returns Trabajadores por Cuenta Propia Usted trabaja por cuenta propia si: Trabaja en una ocupación o negocio como dueño único, Es contratista independiente, Es socio de una sociedad colectiva o Trabaja por su cuenta de alguna otra manera. Penalties for late tax returns Además de sus actividades de negocio normales a las que se dedica a tiempo completo, el trabajo por cuenta propia puede incluir ciertos trabajos a tiempo parcial que haga en casa o además de su trabajo normal. Penalties for late tax returns Debe presentar una declaración si su ingreso bruto es por lo menos igual a la cantidad requerida para presentar la declaración de impuestos que corresponde a su estado civil para efectos de la declaración y su edad (indicada en la Tabla 1-1). Penalties for late tax returns Además, tiene que presentar el Formulario 1040 y el Anexo SE (Formulario 1040), Self-Employment Tax (Impuesto sobre el trabajo por cuenta propia), en inglés, si: Sus ingresos netos del trabajo por cuenta propia (excluyendo ingresos como empleado de una iglesia) eran $400 o más o Tenía ingresos de $108. Penalties for late tax returns 28 o más por ser empleado de una iglesia. Penalties for late tax returns (Vea la Tabla 1-3). Penalties for late tax returns Use el Anexo SE (Formulario 1040) para calcular su impuesto sobre el trabajo por cuenta propia. Penalties for late tax returns El impuesto sobre el trabajo por cuenta propia es equivalente al impuesto del Seguro Social y del Medicare que se retiene del salario de un empleado. Penalties for late tax returns Para más información sobre este impuesto, vea la Publicación 334, Tax Guide for Small Business (Guía tributaria para pequeños negocios), en inglés. Penalties for late tax returns Empleados de gobiernos extranjeros o de organismos internacionales. Penalties for late tax returns   Si es ciudadano de los Estados Unidos que trabaja en los Estados Unidos para un organismo internacional, un gobierno extranjero o una entidad que opera enteramente bajo un gobierno extranjero y su empleador no está obligado a retener impuestos del Seguro Social y del Medicare de su salario, deberá incluir la remuneración por servicios prestados en los Estados Unidos al calcular su ingreso neto del trabajo por cuenta propia. Penalties for late tax returns Ministros de una orden religiosa. Penalties for late tax returns   Tiene que incluir el ingreso procedente de servicios prestados como ministro cuando calcule su ingreso neto del trabajo por cuenta propia, a menos que tenga una exención del impuesto sobre el trabajo por cuenta propia. Penalties for late tax returns Esto incluye a practicantes de la Ciencia Cristiana y a miembros de órdenes religiosas que no hayan tomado un voto de pobreza. Penalties for late tax returns Para más información, consulte la Publicación 517, Social Security and Other Information for Members of the Clergy and Religious Workers (Información sobre el Seguro Social y otra información para miembros del clero y trabajadores religiosos), en inglés. Penalties for late tax returns Extranjeros Su estado de extranjero residente, no residente o extranjero con doble estado de residencia determina si usted debe presentar una declaración de impuestos sobre el ingreso y cómo presentarla. Penalties for late tax returns Las reglas que se usan para determinar su estado de extranjero se explican en la Publicación 519, U. Penalties for late tax returns S. Penalties for late tax returns Tax Guide for Aliens (Guía de impuestos para extranjeros), en inglés. Penalties for late tax returns Extranjero residente. Penalties for late tax returns   Si es extranjero residente durante todo el año, tiene que presentar una declaración de impuestos acatando las mismas reglas que les corresponden a los ciudadanos estadounidenses. Penalties for late tax returns Use los formularios mencionados en esta publicación. Penalties for late tax returns Extranjero no residente. Penalties for late tax returns   Si es extranjero no residente, las reglas y los formularios de impuestos que le corresponden son distintos a los correspondientes a ciudadanos estadounidenses y a extranjeros residentes. Penalties for late tax returns Vea la Publicación 519 para saber si las leyes tributarias de los Estados Unidos le corresponden a usted y qué formularios debe presentar. Penalties for late tax returns Contribuyente con doble estado de residencia. Penalties for late tax returns   Si es extranjero residente por una parte del año tributario y extranjero no residente por el resto del año, es contribuyente con doble estado de residencia. Penalties for late tax returns Se aplican reglas distintas para cada parte del año. Penalties for late tax returns Para información sobre contribuyentes con doble estado de residencia, vea la Publicación 519. Penalties for late tax returns Tabla 1-3. Penalties for late tax returns Otras Situaciones en las que Debe Presentar una Declaración de Impuestos para el Año 2013 Si alguna de las cuatro condiciones que se indican a continuación le corresponde, tiene que presentar la declaración para el 2013. Penalties for late tax returns 1. Penalties for late tax returns Adeuda algunos impuestos especiales, incluyendo cualquiera de los siguientes:   a. Penalties for late tax returns Impuesto mínimo alternativo. Penalties for late tax returns   b. Penalties for late tax returns Impuestos adicionales sobre un plan calificado, incluyendo un arreglo de ahorros para la jubilación (IRA) u otros planes con beneficios tributarios. Penalties for late tax returns Pero si está presentando una declaración sólo porque adeuda este impuesto, puede presentar por sí solo el Formulario 5329. Penalties for late tax returns   c. Penalties for late tax returns Impuestos sobre el empleo de empleados domésticos. Penalties for late tax returns Pero si está presentando una declaración sólo porque adeuda este impuesto, puede presentar por sí solo el Anexo H. Penalties for late tax returns   d. Penalties for late tax returns El impuesto del Seguro Social o del Medicare sobre propinas que usted no declaró a su empleador o salarios recibidos de un empleador que no retuvo dichos impuestos. Penalties for late tax returns   e. Penalties for late tax returns Recuperación del crédito para compradores de vivienda por primera vez. Penalties for late tax returns   f. Penalties for late tax returns Impuestos añadidos, incluyendo impuestos del Seguro Social y del Medicare o el impuesto de Jubilación de Empleados Ferroviarios (conocido como RRTA, por sus siglas en inglés), sobre propinas que no fueron recaudadas y que usted declaró a su empleador o seguro de vida colectivo e impuestos adicionales en cuentas de ahorros para gastos médicos. Penalties for late tax returns   g. Penalties for late tax returns Impuestos recuperados. Penalties for late tax returns 2. Penalties for late tax returns Usted (o su cónyuge si presentan una declaración conjunta) recibió distribuciones de una cuenta Archer MSA, de una cuenta Medicare Advantage MSA o de una cuenta Health Savings Account. Penalties for late tax returns 3. Penalties for late tax returns Tiene ingresos netos del trabajo por cuenta propia de por lo menos $400. Penalties for late tax returns 4. Penalties for late tax returns Tiene un salario de $108. Penalties for late tax returns 28 o más de una iglesia o una organización calificada controlada por una iglesia que está exenta de los impuestos del Seguro Social y del Medicare del empleador. Penalties for late tax returns Quién Debe Presentar una Declaración Aunque no tenga que presentar una declaración de impuestos federales sobre el ingreso, debe presentarla para que le devuelvan dinero si alguna de las siguientes condiciones le corresponde: Le retuvieron impuestos federales o usted pagó impuesto estimado. Penalties for late tax returns Reúne los requisitos para el crédito por ingreso del trabajo. Penalties for late tax returns Vea el capítulo 36 para más información. Penalties for late tax returns Reúne los requisitos para el crédito tributario adicional por hijos. Penalties for late tax returns Vea el capítulo 34 para más información. Penalties for late tax returns Reúne los requisitos para el crédito tributario por cobertura del seguro médico. Penalties for late tax returns Vea el capítulo 37 para más información. Penalties for late tax returns Reúne los requisitos para el crédito tributario de oportunidad para los estadounidenses. Penalties for late tax returns Vea el capítulo 35 para más información. Penalties for late tax returns Reúne los requisitos para el crédito por impuestos federales sobre combustibles. Penalties for late tax returns Vea el capítulo 37 para más información. Penalties for late tax returns ¿Qué Formulario Debo Usar? Debe escoger uno de tres formularios para presentar su declaración de impuestos. Penalties for late tax returns Éstos son: el Formulario 1040EZ, el Formulario 1040A o el Formulario 1040. Penalties for late tax returns (Pero vea también el tema titulado ¿Tengo que Presentar la Declaración en Papel? , más adelante). Penalties for late tax returns Vea el tema en la sección Formulario 1040 para información sobre cuándo necesita utilizar dicho formulario. Penalties for late tax returns Formulario 1040EZ El Formulario 1040EZ es el formulario más sencillo de usar. Penalties for late tax returns Puede usar el Formulario 1040EZ si se dan todas las siguientes situaciones:    Su estado civil para efectos de la declaración es soltero o casado que presenta una declaración conjunta. Penalties for late tax returns Si fue extranjero no residente en algún momento del año 2013, su estado civil para efectos de la declaración debe ser casado que presenta la declaración conjunta. Penalties for late tax returns Usted (y su cónyuge, si es casado que presenta una declaración conjunta) tenía menos de 65 años de edad y no estaba ciego al final del año 2013. Penalties for late tax returns Si nació el 1 de enero de 1949, a usted se le considera que tiene 65 años de edad al final del año 2013. Penalties for late tax returns No declara ningún dependiente. Penalties for late tax returns Su ingreso tributable es menos de $100,000. Penalties for late tax returns Su ingreso proviene únicamente de sueldos, salarios, propinas, compensación por desempleo, dividendos del Alaska Permanent Fund (Fondo Permanente de Alaska), becas de estudios y de desarrollo profesional tributables e intereses tributables de $1,500 o menos. Penalties for late tax returns No declara ningún ajuste al ingreso, como una deducción por aportaciones hechas a una cuenta de ahorros para la jubilación (IRA, por sus siglas en inglés) o intereses sobre un préstamo de estudios. Penalties for late tax returns No reclama ningún crédito que no sea el crédito por ingreso del trabajo. Penalties for late tax returns No debe impuestos sobre el empleo de empleados domésticos sobre salarios que le pagó a un empleado doméstico. Penalties for late tax returns Si ganó propinas, se han incluido en los recuadros 5 y 7 del Formulario W-2. Penalties for late tax returns No es deudor en un caso de quiebra (conforme al capítulo 11 del Título 11 del Código de Quiebras de los Estados Unidos) declarado después del 16 de octubre de 2005. Penalties for late tax returns   Debe cumplir todos estos requisitos para poder usar el Formulario 1040EZ. Penalties for late tax returns De lo contrario, debe utilizar el Formulario 1040A o el Formulario 1040. Penalties for late tax returns Cómo calcular el impuesto. Penalties for late tax returns   En el Formulario 1040EZ, sólo puede usar la tabla de impuestos para calcular su impuesto sobre el ingreso. Penalties for late tax returns No puede usar el Formulario 1040EZ para declarar ningún otro impuesto. Penalties for late tax returns Formulario 1040A Si no reúne los requisitos para utilizar el Formulario 1040EZ, quizás pueda utilizar el Formulario 1040A. Penalties for late tax returns Puede usar el Formulario 1040A si se dan todas las siguientes situaciones:    Su ingreso proviene únicamente de: Salarios, sueldos y propinas. Penalties for late tax returns Intereses. Penalties for late tax returns Dividendos ordinarios (incluyendo dividendos del Alaska Permanent Fund (Fondo Permanente de Alaska)). Penalties for late tax returns Distribuciones de ganancias de capital. Penalties for late tax returns Distribuciones de cuentas IRA. Penalties for late tax returns Pensiones y anualidades. Penalties for late tax returns Compensación por desempleo. Penalties for late tax returns Beneficios tributables del Seguro Social y de la jubilación ferroviaria y Becas tributables de estudios y de desarrollo profesional. Penalties for late tax returns Si recibe una distribución de ganancias de capital que incluye una ganancia no recuperada conforme a la Sección 1250, una ganancia de la sección 1202 o una ganancia procedente de artículos coleccionables (28%), no puede usar el Formulario 1040A. Penalties for late tax returns Tiene que usar el Formulario 1040. Penalties for late tax returns Su ingreso tributable es menos de $100,000. Penalties for late tax returns Sus ajustes al ingreso se deben solamente a lo siguiente: Gastos del educador. Penalties for late tax returns Deducción de una cuenta de ahorros para la jubilación (IRA, por sus siglas en inglés). Penalties for late tax returns Deducción de intereses sobre un préstamo de estudios. Penalties for late tax returns Costo de matrícula y cuotas. Penalties for late tax returns No detalla las deducciones. Penalties for late tax returns Reclama sólo los siguientes créditos tributarios: El crédito por gastos del cuidado de menores y dependientes. Penalties for late tax returns (Vea el capítulo 32 ). Penalties for late tax returns Crédito para ancianos o personas incapacitadas. Penalties for late tax returns (Vea el capítulo 33 ). Penalties for late tax returns Los créditos tributarios por estudios. Penalties for late tax returns (Vea el capítulo 35 ). Penalties for late tax returns El crédito por aportaciones a cuentas de ahorros para la jubilación. Penalties for late tax returns (Vea el capítulo 37 ). Penalties for late tax returns El crédito tributario por hijos. Penalties for late tax returns (Vea el capítulo 34 ). Penalties for late tax returns El crédito por ingreso del trabajo. Penalties for late tax returns (Vea el capítulo 36 ). Penalties for late tax returns El crédito tributario adicional por hijos. Penalties for late tax returns (Vea el capítulo 34 ). Penalties for late tax returns No tuvo un ajuste al impuesto mínimo alternativo sobre acciones que adquirió al ejercer una opción de compra de acciones con incentivo. Penalties for late tax returns (Vea la Publicación 525, Taxable and Nontaxable Income (Ingreso tributable y no tributable), en inglés). Penalties for late tax returns   También puede utilizar el Formulario 1040A si recibió del empleador beneficios para el cuidado de dependientes o si adeuda impuesto de una recuperación de un crédito por estudios o el impuesto mínimo alternativo. Penalties for late tax returns   Tiene que cumplir estos requisitos mencionados anteriormente para usar el Formulario 1040A. Penalties for late tax returns De lo contrario, tiene que usar el Formulario 1040. Penalties for late tax returns Formulario 1040 Si no puede usar el Formulario 1040EZ ni el Formulario 1040A, debe usar el Formulario 1040. Penalties for late tax returns Puede usar el Formulario 1040 para declarar todos los tipos de ingresos, deducciones y créditos. Penalties for late tax returns Quizás pague menos impuestos presentando el Formulario 1040 porque puede tomar deducciones detalladas, algunos ajustes a los ingresos y créditos que no puede tomar en el Formulario 1040A ni en el Formulario 1040EZ. Penalties for late tax returns Debe usar el Formulario 1040 si le corresponde alguna de las siguientes situaciones:    Su ingreso tributable es $100,000 o más. Penalties for late tax returns Detalla sus deducciones en el Anexo A. Penalties for late tax returns Tenía ingresos que no pueden ser declarados en el Formulario 1040EZ ni en el Formulario 1040A, incluyendo intereses exentos de impuestos provenientes de bonos de actividad privada que fueron emitidos después del 7 de agosto del 1986. Penalties for late tax returns Reclama algún ajuste a los ingresos brutos que no sean los ajustes mencionados anteriormente bajo Formulario 1040A. Penalties for late tax returns En el recuadro 12 del Formulario W-2 se indican impuestos del empleado no cobrados (impuestos del Seguro Social y Medicare) sobre propinas (vea el capítulo 6 ) o sobre un seguro de vida colectivo a término (vea el capítulo 5 ). Penalties for late tax returns Recibió $20 o más en propinas en algún mes y no las declaró todas a su empleador. Penalties for late tax returns (Vea el capítulo 6 ). Penalties for late tax returns Era residente bona fide de Puerto Rico y excluye ingresos provenientes de fuentes en Puerto Rico. Penalties for late tax returns Reclama todos los créditos salvo los mencionados anteriormente bajo Formulario 1040A. Penalties for late tax returns Debe impuestos sobre uso y consumo sobre remuneraciones por acciones negociadas por oficiales de una sociedad anónima expatriada. Penalties for late tax returns Su Formulario W-2 muestra una cantidad en el recuadro 12 con el código Z. Penalties for late tax returns De su cuenta IRA, recibió una distribucion de fondos calificada de una cuenta de ahorros para gastos médicos (HSA, por sus siglas en inglés). Penalties for late tax returns Es empleado y su empleador no le retuvo los impuestos del Seguro Social ni del Medicare. Penalties for late tax returns Tiene que presentar otros formularios, tales como el Formulario 8959 o el Formulario 8960, con su declaración para declarar ciertas exclusiones, impuestos o transacciones. Penalties for late tax returns Es deudor en un caso de quiebra declarada después del 16 de octubre de 2005. Penalties for late tax returns Tiene que recuperar el crédito para compradores de vivienda por primera vez. Penalties for late tax returns Tiene ingresos brutos ajustados de más de $150,000 y tiene que reducir la cantidad de dólares de sus exenciones. Penalties for late tax returns ¿Tengo que Presentar la Declaración en Papel? Quizás pueda presentar una declaración de impuestos elecrónicamente usando el sistema IRS e-file (presentación electrónica de declaraciones de impuestos del IRS). Penalties for late tax returns Si su ingreso bruto ajustado (AGI, por sus siglas en inglés) del año 2013 es menor de cierta cantidad, tiene derecho a utilizar Free File (Presente gratis). Penalties for late tax returns Vea las instrucciones de su formulario de impuestos para saber más detalles. Penalties for late tax returns Si no reúne los requisitos para utilizar Free File, debe consultar el sitio web www. Penalties for late tax returns irs. Penalties for late tax returns gov/espanol para informarse sobre opciones económicas para presentar la declaración electrónicamente por medio de e-file o Free File Fillable Forms (Formularios de Free File Rellenables). Penalties for late tax returns E-file del IRS En la Tabla 1-4 se encuentra una lista de los beneficios de la presentación electrónica de declaraciones de impuesto e-file del IRS. Penalties for late tax returns El sistema e-file del IRS hace uso de la automatización para reemplazar la mayor parte de los pasos manuales que se necesitan para tramitar declaraciones usando papel. Penalties for late tax returns Por lo tanto, la tramitación de las declaraciones electrónicas se hace más rápidamente y con más exactitud que la de las declaraciones en papel. Penalties for late tax returns Sin embargo, como en el caso de una declaración en papel, usted tiene la responsabilidad de asegurarse de que la declaración se presente a tiempo y que la información en la misma sea exacta. Penalties for late tax returns El hecho de utilizar el sistema electrónico e-file del IRS no afecta la posibilidad de que el IRS realice una auditoría de su declaración. Penalties for late tax returns Formularios de Free File Rellenables. Penalties for late tax returns   Si usted no necesita ayuda para preparar su declaración puede usar la opción de Free File Fillable Forms (Formularios Rellenables de Free-File, en inglés), para presentar su declaración. Penalties for late tax returns Estos formularios: No requieren una cantidad de ingreso en particular; por lo tanto, todos los contribuyentes pueden usarlos, Son fáciles de usar, Hacen cálculos matemáticos básicos, Solamente están disponibles en la página web IRS. Penalties for late tax returns gov, en inglés y Sólo pueden usarse para preparar su declaración del impuesto federal. Penalties for late tax returns Firmas electrónicas. Penalties for late tax returns   Para hacer una presentación electrónica de la declaración, debe firmarla mediante el uso de un número de identificación personal (PIN, por sus siglas en inglés). Penalties for late tax returns Si presenta la declaración por Internet, tiene que utilizar el método de autoselección del PIN. Penalties for late tax returns Si presenta la declaración electrónicamente mediante los servicios de un preparador de impuestos, puede utilizar un PIN autoseleccionado o un PIN ingresado o generado por dicho preparador. Penalties for late tax returns PIN autoseleccionado. Penalties for late tax returns   El método de autoselección del PIN le permite crear uno propio. Penalties for late tax returns Si presenta una declaración conjunta, usted y su cónyuge, cada uno tendrá que crear un PIN y usarlo como firma electrónica. Penalties for late tax returns   Un PIN es cualquier combinación de 5 dígitos que escoja, excluyendo cinco ceros. Penalties for late tax returns Si usa un número de identificación personal no habrá nada que firmar y nada para enviar por correo —ni siquiera sus Formularios W-2. Penalties for late tax returns   Para verificar su identidad, se le pedirá que indique la cantidad de su ingreso bruto ajustado que presentó originalmente en su declaración de impuestos del año 2012, si es aplicable. Penalties for late tax returns No use su ingreso bruto ajustado de una declaración enmendada (el Formulario 1040X, en inglés), o la corrección de un error matemático hecha por el IRS. Penalties for late tax returns El ingreso bruto ajustado es la suma que aparece en la línea 38 del Formulario 1040, la línea 22 del Formulario 1040A y en la línea 4 del Formulario 1040EZ, todos del año 2012. Penalties for late tax returns Si usted no tiene la información de su declaración de impuestos para el año 2012, puede pedir de forma rápida un transunto (transcripción) usando el sistema automatizado de servicio. Penalties for late tax returns Visite IRS. Penalties for late tax returns gov/espanol y seleccione Ordenar Transcripción. Penalties for late tax returns La solicitud aparece en inglés pero puede acceder a la versión en español seleccionando “En Español” en la parte superior de la página. Penalties for late tax returns Llame al 1-800-908-9946 para recibir un trasunto de su declaración gratis. Penalties for late tax returns (Si presentó la declaración de impuestos por vía electrónica el año pasado, puede usar su PIN del año anterior para demostrar su identidad, en vez de su ingreso bruto ajustado del año anterior. Penalties for late tax returns El PIN del año anterior es el PIN de cinco dígitos que utilizó para firmar su declaración de impuestos de 2012). Penalties for late tax returns También se le pedirá que indique su fecha de nacimiento. Penalties for late tax returns Tabla 1-4. Penalties for late tax returns Beneficios del sistema e-file del IRS • Las opciones gratuitas para la presentación de la declaración (Free File) permiten a los contribuyentes calificados preparar y presentar electrónicamente su declaración de impuestos gratis. Penalties for late tax returns • Free File está disponible en inglés y español. Penalties for late tax returns • Free File está disponible por Internet las 24 horas del día, los 7 días de la semana. Penalties for late tax returns • Reciba su reembolso más rápido cuando presenta la declaración electrónicamente, con el uso del Depósito Directo. Penalties for late tax returns • Firme electrónicamente con su PIN seguro y autoseleccionado y presente su declaración sin usar papel. Penalties for late tax returns • Reciba un acuse de recibo como prueba de que el IRS ha recibido y aceptado su declaración de impuestos. Penalties for late tax returns • Si adeuda impuestos, puede presentar la declaración electrónicamente y pagar electrónicamente por Internet o a través del teléfono utilizando su cuenta bancaria o su tarjeta de crédito o débito. Penalties for late tax returns Puede también presentar una declaración por adelantado y pagar el monto debido para la fecha de vencimiento de la misma. Penalties for late tax returns • Ahorre tiempo al presentar juntas electrónicamente las declaraciones de impuestos federales y estatales. Penalties for late tax returns • Las computadoras del IRS revisan la declaración rápida y automáticamente para ver si hay errores o si falta alguna información. Penalties for late tax returns • Proteja el medio ambiente, utilice menos papel y ahorre el dinero de los contribuyentes —la tramitación de una declaración presentada electrónicamente cuesta menos que la de una declaración en papel. Penalties for late tax returns No puede usar el método de autoselección del PIN si presenta la declaración por primera vez y es menor de 16 años al finalizar el año 2013. Penalties for late tax returns Si no puede localizar su ingreso bruto ajustado o el PIN del año anterior visite IRS. Penalties for late tax returns gov/espanol y escriba en la caja de búsqueda Solicitud de PIN de Presentación Electrónica. Penalties for late tax returns O puede llamar al 1-866-704-7388. Penalties for late tax returns PIN del preparador de impuestos. Penalties for late tax returns   El método del PIN del preparador de impuestos le permite autorizar a su especialista en impuestos a ingresar o generar el PIN de usted. Penalties for late tax returns Dicho preparador de impuestos puede darle más información sobre este asunto. Penalties for late tax returns Formulario 8453(SP) (o Formulario 8453, en inglés). Penalties for late tax returns   Debe enviar un Formulario 8453(SP) (o Formulario 8453) en papel si tiene que adjuntar ciertos formularios u otros documentos que no pueden presentarse electrónicamente. Penalties for late tax returns Para más detalles vea el Formulario 8453(SP) o el Formulario 8453, en inglés. Penalties for late tax returns Para más detalles, visite la página web del IRS, www. Penalties for late tax returns irs. Penalties for late tax returns gov/efile y pulse sobre el tema “ Individuals ” (Personas físicas), en inglés. Penalties for late tax returns PIN de Protección de Identidad. Penalties for late tax returns   Si el IRS le provee un número personal de protección de identidad (PIN, por sus siglas en inglés) debido a que fue víctima de robo de identidad, anote éste en los espacios indicados en el formulario de impuestos. Penalties for late tax returns Si el IRS no le ha provisto este tipo de número, deje los espacios en blanco. Penalties for late tax returns Para más información, consulte las Instrucciones del Formulario 1040A o el Formulario 1040. Penalties for late tax returns Poder legal. Penalties for late tax returns   Si un agente firma la declaración por usted, se debe presentar un poder legal (POA, por sus siglas en inglés). Penalties for late tax returns Adjunte el poder legal al Formulario 8453(SP) (o al Formulario 8453) y preséntelo consultando las instrucciones de dicho formulario. Penalties for late tax returns Vea Firmas , más adelante, para más información sobre los poderes legales. Penalties for late tax returns Declaraciones estatales. Penalties for late tax returns   En la mayoría de los estados, puede presentar electrónicamente una declaración de impuestos del estado simultáneamente con su declaración del impuesto federal. Penalties for late tax returns Para más información, póngase en contacto con su oficina local del IRS, agencia estatal de impuestos, un preparador profesional de impuestos o visite el sitio web del IRS,  www. Penalties for late tax returns irs. Penalties for late tax returns gov/efile, en inglés. Penalties for late tax returns Reembolsos. Penalties for late tax returns   Puede recibir un cheque de reembolso por correo o puede pedir que su reembolso se deposite directamente en su cuenta corriente o de ahorros o dividirlo entre dos o tres cuentas. Penalties for late tax returns Con el sistema e-file, su reembolso será expedido más pronto que si presenta la declaración en papel. Penalties for late tax returns   Igualmente como si presentara una declaración en papel, es probable que no obtenga su reembolso completo si adeuda ciertas cantidades atrasadas o vencidas, tales como cantidades adeudadas en concepto de impuesto sobre el ingreso federal, impuesto sobre el ingreso estatal, deudas estatales de compensación por desempleo, manutención de un menor, manutención del cónyuge o ciertas deudas federales no relacionadas con los impuestos, como los préstamos para estudios. Penalties for late tax returns Vea el tema Ajuste por deudas bajo Reembolsos, más adelante. Penalties for late tax returns Averiguación del estado de reembolsos. Penalties for late tax returns   Por lo general, encontrará información disponible sobre su declaración dentro de las 24 horas después de que el IRS reciba su declaración presentada electrónicamente. Penalties for late tax returns Vea Información sobre Reembolsos , más adelante. Penalties for late tax returns Cantidad adeudada. Penalties for late tax returns   Para evitar multas e intereses por no pagar sus impuestos a tiempo, debe pagarlos en su totalidad a más tardar el 15 de abril de 2014. Penalties for late tax returns Vea Cómo Pagar , más adelante, para más información sobre cómo pagar la cantidad que adeuda. Penalties for late tax returns Uso de una Computadora Personal Puede presentar su declaración de impuestos de manera rápida, fácil y conveniente usando su computadora personal. Penalties for late tax returns Una computadora con acceso al Internet y un programa comercial para la preparación de impuestos es todo lo que necesita. Penalties for late tax returns Lo mejor de todo es que puede presentar su declaración de impuestos usando el sistema electrónico e-file cómodamente desde su casa 24 horas al día, 7 días a la semana. Penalties for late tax returns Los programas comerciales de computadora para la preparación de impuestos aprobados por el IRS están disponibles para su uso en Internet, para ser descargados por Internet y en varias tiendas. Penalties for late tax returns Para información, visite www. Penalties for late tax returns irs. Penalties for late tax returns gov/efile, en inglés. Penalties for late tax returns   A Través de su Empleador e Instituciones Financieras Algunos negocios les ofrecen a sus empleados, miembros o clientes la oportunidad de presentar sus declaraciones gratuitamente por medio del sistema e-file. Penalties for late tax returns Otros cobran por este servicio. Penalties for late tax returns Pregúntele a su empleador o a su institución financiera si ofrecen el uso del sistema e-file del IRS como beneficio para empleados, miembros o clientes. Penalties for late tax returns Ayuda Gratuita con la Preparación de la Declaración de Impuestos Existe ayuda gratuita para la preparación de la declaración de impuestos en todo el país con voluntarios capacitados por el IRS. Penalties for late tax returns El programa Volunteer Income Tax Assistance (Programa de Asesoramiento Voluntario al Contribuyente del Impuesto sobre el Ingreso, o VITA, por sus siglas en inglés) está diseñado para ayudar a los contribuyentes de bajos y medios recursos y el programa Tax Counseling for the Elderly (Programa de Asesoramiento para las Personas Mayores o TCE, por sus siglas en inglés) está diseñado para ayudar a los contribuyentes de 60 años de edad o más con su declaración de impuestos. Penalties for late tax returns En muchas de estas oficinas VITA usted puede presentar la declaración electrónicamente gratis y todos los voluntarios le informarán sobre los créditos y deducciones a los que quizás tenga derecho. Penalties for late tax returns Para ubicar un centro de ayuda cerca de usted, llame al 1-800-906-9887. Penalties for late tax returns O para encontrar el sitio de ayuda del AARP TaxAide (Programa de Ayuda Tributaria de la Asociación Estadounidense de Personas Jubiladas o http://www. Penalties for late tax returns aarp. Penalties for late tax returns org/taxaide AARP, por sus siglas en inglés) más cercano a usted, visite el sitio web de la AARP, www. Penalties for late tax returns aarp. Penalties for late tax returns org/taxaide o llame al 1-888-227-7669. Penalties for late tax returns Para más información sobre estos programas, visite el sitio web IRS. Penalties for late tax returns gov e ingrese la palabra clave “ VITA ” en la casilla Search (Buscar). Penalties for late tax returns Uso de un Preparador Profesional de Impuestos Muchos profesionales de impuestos presentan declaraciones electrónicamente de parte de sus clientes. Penalties for late tax returns Usted puede ingresar personalmente su PIN o completar el Formulario 8879(SP), Autorización de Firma para Presentar la Declaración por medio del IRS E-file (o el Formulario 8879, en inglés), para autorizar a un preparador profesional de impuestos para que ingrese su número de identificación personal en su declaración de impuestos. Penalties for late tax returns Nota: Un profesional de impuestos le puede cobrar un cargo por presentar la declaración por medio del sistema electrónico e-file del IRS. Penalties for late tax returns El cargo puede variar dependiendo del profesional y de los servicios específicos que solicite. Penalties for late tax returns ¿Cuándo Tengo que Presentar la Declaración? El 15 de abril de 2014 es la fecha de vencimiento para presentar la declaración de impuestos sobre el ingreso para el año 2013 si usa un año calendario. Penalties for late tax returns Para una vista rápida de las fechas de vencimiento para la presentación de una declaración con o sin prórroga (la cual se explica más adelante), vea la Tabla 1-5 . Penalties for late tax returns Tabla 1-5. Penalties for late tax returns Cuándo Presentar la Declaración del Año 2013 Para ciudadanos estadounidenses y residentes que declaren impuestos basándose en el año calendario. Penalties for late tax returns   Para la Mayoría de los Contribuyentes  Para Ciertos Contribuyentes Fuera de los Estados Unidos No se solicita una prórroga El 15 de abril de 2014 El 16 de junio de 2014 Prórroga automática El 15 de octubre de 2014 El 15 de octubre de 2014 Si usa un año fiscal (un año que termina en el último día de cualquier mes excepto diciembre o un año de 52-53 semanas), su declaración de impuestos sobre el ingreso debe ser presentada a más tardar el día 15 del cuarto mes después del cierre del año fiscal. Penalties for late tax returns Cuando la fecha de vencimiento para hacer alguna actividad relacionada con los impuestos como presentar una declaración, pagar impuestos, etc. Penalties for late tax returns —cae un sábado, domingo o día feriado oficial, la fecha de vencimiento se retrasa hasta el siguiente día laborable. Penalties for late tax returns Presentación de la declaración en papel a tiempo. Penalties for late tax returns   La declaración de impuestos en papel se considera presentada a tiempo si se envía en un sobre con la dirección correcta, suficientes sellos (estampillas) y una fecha de matasellos que sea, a más tardar, la fecha de vencimiento para la presentación de la declaración. Penalties for late tax returns Si envía una declaración por correo registrado, la fecha de registro es la fecha del matasellos. Penalties for late tax returns El registro es prueba de que la declaración fue entregada. Penalties for late tax returns Si envía una declaración por correo certificado y tiene el recibo con el matasellos marcado por un empleado de correos, la fecha sobre el recibo es la fecha del matasellos. Penalties for late tax returns El recibo del correo certificado con el matasellos demuestra que la declaración ha sido entregada. Penalties for late tax returns Servicios de entrega privados. Penalties for late tax returns   Si usa un servicio privado designado por el IRS para enviar su declaración de impuestos, la fecha del matasellos es normalmente la fecha que el servicio de entrega privado registra en su base de datos o marca en la etiqueta de envío. Penalties for late tax returns El servicio de entrega privado puede decirle cómo obtener prueba escrita de esta fecha. Penalties for late tax returns   Si usa un servicio de entrega privado designado por el IRS, para conocer la dirección del IRS, visite www. Penalties for late tax returns irs. Penalties for late tax returns gov y anote en la caja de búsqueda “ private delivery service ” (servicio de entrega privado). Penalties for late tax returns   Los siguientes están designados como servicios de entrega privados: DHL Express (DHL): Same Day Service. Penalties for late tax returns Federal Express (FedEx): FedEx Priority Overnight, FedEx Standard Overnight, FedEx 2Day, FedEx International Priority y FedEx International First. Penalties for late tax returns United Parcel Service (UPS): UPS Next Day Air, UPS Next Day Air Saver, UPS 2nd Day Air, UPS 2nd Day Air A. Penalties for late tax returns M. Penalties for late tax returns , UPS Worldwide Express Plus y UPS Worldwide Express. Penalties for late tax returns Declaraciones electrónicas presentadas a tiempo. Penalties for late tax returns   Si usa el sistema e-file del IRS, su declaración se considera presentada a tiempo si el transmisor electrónico autorizado de declaraciones matasella la transmisión a más tardar en la fecha de vencimiento. Penalties for late tax returns Un transmisor electrónico autorizado de declaraciones es un participante del programa e-file del IRS que transmite información sobre la declaración de impuestos por medios electrónicos directamente al IRS. Penalties for late tax returns   El matasellos electrónico es un registro de cuándo recibe el transmisor electrónico autorizado en su sistema la transmisión de la declaración presentada electrónicamente. Penalties for late tax returns La fecha y hora de la zona donde se presenta la declaración electrónica es lo que determina si la declaración electrónica se entregó a tiempo. Penalties for late tax returns Presentación de la declaración fuera de plazo. Penalties for late tax returns   Si no presenta su declaración de impuestos en la fecha debida, quizás tenga que pagar una multa e intereses por no cumplir el requisito de presentación de la declaración. Penalties for late tax returns Para más información, vea Multas , más adelante. Penalties for late tax returns Vea también Intereses bajo Cantidad que Adeuda. Penalties for late tax returns   Si le deben un reembolso pero no presentó una declaración de impuestos, generalmente debe presentarla dentro de los 3 años a partir de la fecha límite en que la declaración debía haber sido presentada (incluyendo prórrogas) para obtener ese reembolso. Penalties for late tax returns Extranjero no residente. Penalties for late tax returns    Si es extranjero no residente y gana un salario sujeto a la retención de impuestos sobre los ingresos de los Estados Unidos, su declaración de impuestos sobre el ingreso del año 2013 (Formulario 1040NR o Formulario 1040NR-EZ) vence: El 15 de abril de 2014, si se basa en un año calendario o El día 15 del cuarto mes después del final de su año fiscal si se basa en un año fiscal. Penalties for late tax returns   Si no gana un salario sujeto a la retención de impuestos federales sobre el ingreso, su declaración vence: El 16 de junio de 2014, si se basa en un año calendario o El día 15 del sexto mes después del final de su año fiscal, si se basa en un año fiscal. Penalties for late tax returns Vea la Publicación 519, en inglés, para más información sobre la presentación de la declaración de impuestos. Penalties for late tax returns Declaración de los impuestos para un fallecido. Penalties for late tax returns   Si debe presentar una declaración final para un contribuyente que murió durante el año (un fallecido), la declaración se debe entregar para el día 15 del cuarto mes después del final del año tributario habitual del contribuyente fallecido. Penalties for late tax returns Vea la Publicación 559, en inglés. Penalties for late tax returns Prórrogas del Plazo para Presentar la Declaración de Impuestos Quizás pueda obtener una prórroga del plazo para presentar la declaración de impuestos. Penalties for late tax returns Hay tres tipos de situaciones en que quizás pueda obtener una prórroga: Prórroga automática, Se encuentra fuera de los Estados Unidos o Está prestando servicio en una zona de combate. Penalties for late tax returns Prórroga Automática Si no puede presentar su declaración de impuestos del año 2013 para la fecha de vencimiento del plazo, quizás pueda conseguir una prórroga automática de 6 meses para presentar su declaración de impuestos. Penalties for late tax returns Ejemplo. Penalties for late tax returns Si su declaración debe presentarse antes del 15 de abril de 2014, tendrá hasta el 15 de octubre de 2014 para presentarla. Penalties for late tax returns Si no paga los impuestos que adeuda para la fecha límite regular (normalmente, el 15 de abril), adeudará también intereses. Penalties for late tax returns Además, podría verse obligado a pagar multas, como se le indica más adelante. Penalties for late tax returns Cómo obtener una prórroga automática. Penalties for late tax returns   Puede obtener una prórroga automática: Usando el sistema e-file del IRS (para presentar electrónicamente la declaración de impuestos) o Presentando un formulario en papel. Penalties for late tax returns Opciones del sistema e-file. Penalties for late tax returns   Hay dos maneras de usar el sistema e-file para obtener una prórroga de tiempo para presentar la declaración. Penalties for late tax returns Complete el Formulario 4868(SP), Solicitud de Prórroga Automática para Presentar la Declaración del Impuesto sobre el Ingreso Personal de los Estados Unidos (o el Formulario 4868, en inglés), para usarlo como hoja de trabajo. Penalties for late tax returns Si cree que es posible que deba impuestos cuando presente su declaración, use la Parte II del formulario para calcular la cantidad a pagar. Penalties for late tax returns Si envía el Formulario 4868(SP) (o el Formulario 4868, en inglés) al IRS por medio del sistema electrónico e-file, no tiene que enviar un Formulario 4868(SP) (o Formulario 4868, en inglés) en papel. Penalties for late tax returns Uso del sistema e-file con su computadora personal o un preparador profesional de impuestos. Penalties for late tax returns    Puede usar un programa para la preparación de impuestos en su computadora personal o con la ayuda de un preparador profesional de impuestos para presentar el Formulario 4868(SP) (o el Formulario 4868, en inglés) electrónicamente. Penalties for late tax returns Tendrá que proveer cierta información de su declaración de impuestos del año 2012. Penalties for late tax returns Si desea hacer un pago mediante una transferencia directa de su cuenta bancaria, vea Pago electrónico , bajo Cómo Pagar, más adelante en este capítulo. Penalties for late tax returns Sistema e-file y pago con tarjeta de crédito o débito, o a través de una transferencia directa de su cuenta bancaria. Penalties for late tax returns   Puede obtener una prórroga pagando la totalidad o parte del impuesto estimado adeudado usando su tarjeta de crédito o débito, o a través de una transferencia directa de su cuenta bancaria. Penalties for late tax returns Puede hacer esto por teléfono o Internet. Penalties for late tax returns No se presenta el Formulario 4868(SP) (ni el Formulario 4868, en inglés). Penalties for late tax returns Vea Pago electrónico , bajo Cómo Pagar, más adelante en este capítulo. Penalties for late tax returns Presentación del Formulario 4868(SP) (o Formulario 4868) en papel. Penalties for late tax returns   Puede obtener una prórroga para la presentación de la declaración usando el Formulario 4868(SP) (o Formulario 4868, en inglés) en papel. Penalties for late tax returns Envíelo a la dirección indicada en las instrucciones del formulario. Penalties for late tax returns   Si quiere hacer un pago con este formulario, haga un cheque o giro pagadero al “United States Treasury” . Penalties for late tax returns Escriba su número de Seguro Social, su número de teléfono durante el día y “2013 Form 4868(SP)” (o “2013 Form 4868” ) en el cheque o giro. Penalties for late tax returns Cuándo presentar la declaración de impuestos. Penalties for late tax returns   Debe solicitar la prórroga automática a más tardar en la fecha límite de entrega de su declaración. Penalties for late tax returns Puede presentar la declaración de impuestos en cualquier momento antes de que termine la prórroga de 6 meses. Penalties for late tax returns Cuando presente la declaración de impuestos. Penalties for late tax returns   Anote todo pago que haya hecho en relación con la prórroga de tiempo para presentar su declaración de impuestos en la línea 68 del Formulario 1040. Penalties for late tax returns Si presenta la declaración usando el Formulario 1040EZ o el Formulario 1040A, incluya ese pago en el pago total en la línea 9 del Formulario 1040EZ o en la línea 41 del Formulario 1040A. Penalties for late tax returns Escriba también “Form 4868(SP)” (o “Form 4868” ) y la cantidad pagada en el espacio a la izquierda de la línea 9 o de la línea 41. Penalties for late tax returns Individuos/Personas Físicas Fuera de los Estados Unidos Se permite una prórroga automática de 2 meses, sin presentar el Formulario 4868(SP) (o el Formulario 4868), (hasta el 16 de junio de 2014, si utiliza un año calendario) para pre