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Tax Return For 2012

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Tax Return For 2012

Tax return for 2012 Publication 584 - Additional Material Table of Contents This image is too large to be displayed in the current screen. Tax return for 2012 Please click the link to view the image. Tax return for 2012 Entrance Hall This image is too large to be displayed in the current screen. Tax return for 2012 Please click the link to view the image. Tax return for 2012 Living Room This image is too large to be displayed in the current screen. Tax return for 2012 Please click the link to view the image. Tax return for 2012 Dining Room This image is too large to be displayed in the current screen. Tax return for 2012 Please click the link to view the image. Tax return for 2012 Kitchen This image is too large to be displayed in the current screen. Tax return for 2012 Please click the link to view the image. Tax return for 2012 Den This image is too large to be displayed in the current screen. Tax return for 2012 Please click the link to view the image. Tax return for 2012 Bedrooms This image is too large to be displayed in the current screen. Tax return for 2012 Please click the link to view the image. Tax return for 2012 Bathrooms This image is too large to be displayed in the current screen. Tax return for 2012 Please click the link to view the image. Tax return for 2012 Recreation Room This image is too large to be displayed in the current screen. Tax return for 2012 Please click the link to view the image. Tax return for 2012 Laundry and Basement This image is too large to be displayed in the current screen. Tax return for 2012 Please click the link to view the image. Tax return for 2012 Garage This image is too large to be displayed in the current screen. Tax return for 2012 Please click the link to view the image. Tax return for 2012 Sporting Equipment This image is too large to be displayed in the current screen. Tax return for 2012 Please click the link to view the image. Tax return for 2012 Men's Clothing This image is too large to be displayed in the current screen. Tax return for 2012 Please click the link to view the image. Tax return for 2012 Women's Clothing This image is too large to be displayed in the current screen. Tax return for 2012 Please click the link to view the image. Tax return for 2012 Children's Clothing This image is too large to be displayed in the current screen. Tax return for 2012 Please click the link to view the image. Tax return for 2012 Jewelry This image is too large to be displayed in the current screen. Tax return for 2012 Please click the link to view the image. Tax return for 2012 Electrical Appliances This image is too large to be displayed in the current screen. Tax return for 2012 Please click the link to view the image. Tax return for 2012 Linens This image is too large to be displayed in the current screen. Tax return for 2012 Please click the link to view the image. Tax return for 2012 Miscellaneous This image is too large to be displayed in the current screen. Tax return for 2012 Please click the link to view the image. Tax return for 2012 Motor Vehicles Schedule 20. Tax return for 2012 Home (Excluding Contents) Note. Tax return for 2012 If you used the entire property as your home, fill out only column (a). Tax return for 2012 If you used part of the property as your home and part of it for business or to produce rental income, you must allocate the entries on lines 2-9 between the personal part (column (a)) and the business/rental part (column (b)). Tax return for 2012 1. Tax return for 2012 Description of property (Show location and date acquired. Tax return for 2012 )     (a)  Personal Part (b)  Business/Rental Part 2. Tax return for 2012 Cost or other (adjusted) basis of property (from Worksheet A)     3. Tax return for 2012 Insurance or other reimbursement Note. Tax return for 2012 If line 2 is more than line 3, skip line 4. Tax return for 2012 If line 3 is more than line 2, you exclude gain, and the gain is more than you can exclude, see the instructions for line 3 in the Instructions for Form 4684 for the amount to enter. Tax return for 2012     4. Tax return for 2012 Gain from casualty. Tax return for 2012 If line 3 is more than line 2, enter the difference here and skip lines 5 through 9. Tax return for 2012 But see Next below line 9. Tax return for 2012     5. Tax return for 2012 Fair market value before casualty     6. Tax return for 2012 Fair market value after casualty     7. Tax return for 2012 Decrease in fair market value. Tax return for 2012 Subtract line 6 from line 5. Tax return for 2012     8. Tax return for 2012 Enter the smaller of line 2 or line 7 Note for business/rental part. Tax return for 2012 If the property was totally destroyed by casualty, enter on line 8, column (b) the amount from line 2, column (b). Tax return for 2012     9. Tax return for 2012 Subtract line 3 from line 8. Tax return for 2012 If zero or less, enter -0-. Tax return for 2012     Next: Transfer the entries from line 1 and lines 2-9, column (a), above to the corresponding lines on Form 4684, Section A. Tax return for 2012 Transfer the entries from line 1 and lines 2-9, column (b), to the corresponding lines on Form 4684, Section B. Tax return for 2012 Worksheet A. Tax return for 2012 Cost or Other (Adjusted) Basis Caution. Tax return for 2012 See the Worksheet A Instructions before you use this worksheet. Tax return for 2012         (a) Personal Part (b) Business/Rental Part 1. Tax return for 2012   Enter the purchase price of the home damaged or destroyed. Tax return for 2012 (If you filed Form 2119 when you originally acquired that home to postpone gain on the sale of a previous home before May 7, 1997, enter the adjusted basis of the new home from that Form 2119. Tax return for 2012 ) 1. Tax return for 2012     2. Tax return for 2012   Seller paid points for home bought after 1990. Tax return for 2012 Do not include any seller-paid points you already subtracted to arrive at the amount entered on line 1 2. Tax return for 2012     3. Tax return for 2012   Subtract line 2 from line 1 3. Tax return for 2012     4. Tax return for 2012   Settlement fees or closing costs. Tax return for 2012 (See Settlement costs in Publication 551. Tax return for 2012 ) If line 1 includes the adjusted basis of the new home from Form 2119, skip lines 4a-4g and 5; go to line 6. Tax return for 2012         a. Tax return for 2012 Abstract and recording fees 4a. Tax return for 2012       b. Tax return for 2012 Legal fees (including fees for title search and preparing documents) 4b. Tax return for 2012       c. Tax return for 2012 Survey fees 4c. Tax return for 2012       d. Tax return for 2012 Title insurance 4d. Tax return for 2012       e. Tax return for 2012 Transfer or stamp taxes 4e. Tax return for 2012       f. Tax return for 2012 Amounts that the seller owed that you agreed to pay (back taxes or interest, recording or mortgage fees, and sales commissions) 4f. Tax return for 2012       g. Tax return for 2012 Other 4g. Tax return for 2012     5. Tax return for 2012   Add lines 4a through 4g 5. Tax return for 2012     6. Tax return for 2012   Cost of additions and improvements. Tax return for 2012 (See Increases to Basis in Publication 551. Tax return for 2012 ) Do not include any additions and improvements included on line 1 6. Tax return for 2012     7. Tax return for 2012   Special tax assessments paid for local improvements, such as streets and sidewalks 7. Tax return for 2012     8. Tax return for 2012   Other increases to basis 8. Tax return for 2012     9. Tax return for 2012   Add lines 3, 5, 6, 7, and 8 9. Tax return for 2012     10. Tax return for 2012   Depreciation allowed or allowable, related to the business use or rental of the home 10. Tax return for 2012 0   11. Tax return for 2012   Other decreases to basis (See Decreases to Basis in Publication 551. Tax return for 2012 ) 11. Tax return for 2012     12. Tax return for 2012   Add lines 10 and 11 12. Tax return for 2012     13. Tax return for 2012   Cost or other (adjusted) basis of home damaged or destroyed. Tax return for 2012 Subtract line 12 from line 9. Tax return for 2012 Enter here and on Schedule 20, line 2 13. Tax return for 2012     Worksheet A Instructions. Tax return for 2012 If you use Worksheet A to figure the cost or other (adjusted) basis of your home, follow these instructions. Tax return for 2012 DO NOT use this worksheet to determine your basis if you acquired an interest in your home from a decedent who died in 2010 and whose executor filed Form 8939. Tax return for 2012 IF. Tax return for 2012 . Tax return for 2012 . Tax return for 2012   THEN. Tax return for 2012 . Tax return for 2012 . Tax return for 2012 you inherited your home from a decedent who died either before or after 2010 or from a decedent who died in 2010 and whose executor did not file Form 8939. Tax return for 2012 1 skip lines 1–4 of the worksheet. Tax return for 2012 2 find your basis using the rules under Inherited Property in Publication 551. Tax return for 2012 Enter this amount on line 5 of the worksheet. Tax return for 2012 3 fill out lines 6–13 of the worksheet. Tax return for 2012 you received your home as a gift 1 read Property Received as a Gift in Publication 551 and enter on lines 1 and 3 of the worksheet either the donor's adjusted basis or the home's fair market value at the time of the gift, whichever is appropriate. Tax return for 2012 2 if you can add any federal gift tax to your basis, enter that amount on line 5 of the worksheet. Tax return for 2012 3 fill out the rest of the worksheet. Tax return for 2012 you received your home as a trade for other property 1 enter on line 1 of the worksheet the fair market value of the other property at the time of the trade. Tax return for 2012 (But if you received your home as a trade for your previous home before May 7, 1997, and had a gain on the trade that you postponed using Form 2119, enter on line 1 of the worksheet the adjusted basis of the new home from that Form 2119. Tax return for 2012 ) 2 fill out the rest of the worksheet. Tax return for 2012 you built your home 1 add the purchase price of the land and the cost of building the home. Tax return for 2012 Enter that total on line 1 of the worksheet. Tax return for 2012 (However, if you filed a Form 2119 to postpone gain on the sale of a previous home before May 7, 1997, enter on line 1 of the worksheet the adjusted basis of the new home from that Form 2119. Tax return for 2012 ) 2 fill out the rest of the worksheet. Tax return for 2012 you received your home from your spouse after July 18, 1984 1 skip lines 1–4 of the worksheet. Tax return for 2012 2 enter on line 5 of the worksheet your spouse's cost or other (adjusted) basis in the home just before you received it. Tax return for 2012 3 fill out lines 6–13 of the worksheet, making adjustments to basis only for events after the transfer. Tax return for 2012 you owned a home jointly with your spouse, who transferred his or her interest in the home to you after July 18, 1984     fill out one worksheet, making adjustments to basis for events both before and after the transfer. Tax return for 2012   you received your home from your spouse before July 19, 1984 1 skip lines 1–4 of the worksheet. Tax return for 2012 2 enter on line 5 of the worksheet the home's fair market value at the time you received it. Tax return for 2012 3 fill out lines 6–13 of the worksheet, making adjustments to basis only for events after the transfer. Tax return for 2012 you owned a home jointly with your spouse, and your spouse transferred his or her interest in the home to you before July 19, 1984 1 fill out a worksheet, lines 1–13, making adjustments to basis only for events before the transfer. Tax return for 2012 2 multiply the amount on line 13 of that worksheet by 50% (0. Tax return for 2012 50) to get the adjusted basis of your half-interest at the time of the transfer. Tax return for 2012 3 multiply the fair market value of the home at the time of the transfer by 50% (0. Tax return for 2012 50). Tax return for 2012 Generally, this is the basis of the half-interest that your spouse owned. Tax return for 2012 4 add the amounts from steps 2 and 3 and enter the total on line 5 of a second worksheet. Tax return for 2012 5 complete lines 6–13 of the second worksheet, making adjustments to basis only for events after the transfer. Tax return for 2012 you owned your home jointly with a nonspouse 1 fill out lines 1–13 of the worksheet. Tax return for 2012 2 multiply the amount on line 13 by your percentage of ownership to get the adjusted basis of your part-interest. Tax return for 2012 Worksheet A Instructions. Tax return for 2012 (Continued) IF. Tax return for 2012 . Tax return for 2012 . Tax return for 2012   THEN. Tax return for 2012 . Tax return for 2012 . Tax return for 2012 you owned your home jointly with your spouse who died before 2010 and before the casualty 1 fill out a worksheet, lines 1–13, including adjustments to basis only for events before your spouse's death. Tax return for 2012 2 multiply the amount on line 13 of that worksheet by 50% (0. Tax return for 2012 50) to get the adjusted basis of your half-interest on the date of death. Tax return for 2012 3 figure the basis for the half-interest owned by your spouse. Tax return for 2012 This is one-half of the fair market value on the date of death (or later alternate valuation used for estate or inheritance tax). Tax return for 2012 (The basis in your half will remain one-half of the adjusted basis determined in step 2. Tax return for 2012 ) 4 add the amounts from steps 2 and 3 and enter the total on line 5 of a second worksheet. Tax return for 2012 5 complete lines 6–13 of the second worksheet, making adjustments to basis only for events after your spouse's death. Tax return for 2012 you owned your home jointly with your spouse who died before 2010 and before the casualty, and your permanent legal home is in a community property state 1 skip lines 1–4 of the worksheet. Tax return for 2012 2 enter the amount of your basis on line 5 of the worksheet. Tax return for 2012 Generally, this is the fair market value of the home at the time of death. Tax return for 2012 (But see Community Property in Publication 551 for special rules. Tax return for 2012 ) 3 fill out lines 6–13 of the worksheet, making adjustments to basis only for events after your spouse's death. Tax return for 2012 you owned your home jointly with a nonspouse who died before 2010 and before the casualty 1 fill out lines 1–13 of the worksheet, including adjustments to basis only for events before the co-owner's death. Tax return for 2012 2 multiply the amount on line 13 by your percentage of ownership to get the adjusted basis of your part-interest on the date of death. Tax return for 2012 3 multiply the fair market value on the date of death (or later alternate valuation used for estate or inheritance tax) by the co-owner's percentage of ownership. Tax return for 2012 This is the basis for the co-owner's part-interest. Tax return for 2012 4 add the amounts from steps 2 and 3 and enter the total on line 5 of a second worksheet. Tax return for 2012 5 complete lines 6–13 of the second worksheet, including adjustments to basis only for events after the co-owner's death. Tax return for 2012 your home was ever damaged as a result of a prior casualty 1 on line 8 of the worksheet, enter any amounts you spent to restore the home to its condition before the prior casualty. Tax return for 2012 2 on line 11 enter: any insurance reimbursements you received (or expect to receive) for the prior loss,  and any deductible casualty losses from prior years not covered by insurance. Tax return for 2012 the person who sold you your home paid points on your loan and you bought your home after 1990 but before April 4, 1994. Tax return for 2012   on line 2 enter the seller-paid points only if you deducted them as home mortgage interest in the year paid (unless you used the seller-paid points to reduce the amount on line 1). Tax return for 2012 the person who sold you your home paid points on your loan and you bought your home after April 3, 1994   on line 2 enter the seller-paid points even if you did not deduct them (unless you used the seller-paid points to reduce the amount on line 1). Tax return for 2012 you used part of the property as your home and part of it for business or to produce rental income   you must allocate the entries on Worksheet A between the personal part (column (a)) and the business/rental part (column (b)). Tax return for 2012 none of these items apply   fill out the entire worksheet. Tax return for 2012 Prev  Up  Next   Home   More Online Publications
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Going Green- Be a Green Consumer

"Going Green" means practicing an environmentally friendly and ecologically responsible lifestyle as well as making decisions to help protect the environment and sustain natural resources. There are lots of reasons to consider going green—too much trash, greenhouse gases, air and water pollution, damage to the ozone layer, and saving money. For example, switching all the light bulbs in a home from conventional incandescent light bulbs to compact fluorescent light (CFL) bulbs could save about $40 over the life of the bulb. Other examples include:

  • Turning your thermostat down two degrees in winter and up two degrees in summer.
  • Making sure your walls and ceilings are well insulated.
  • Replacing bathroom and kitchen faucets with low-flow models.

Make Greener Product Choices

Buying only what you need is the first step to go green, but when you buy, looking for greener products and using products in ways that respect the environment can have a big impact — on the health of your family, pets and the planet. 

The U.S. Environmental Protection Agency (EPA) has a green products web portal to help you navigate the complex world of green products. You can use this portal to find links and information related to greener products from EPA and other sources.  

The EPA has a number of eco-labeling partnership programs to help you identify greener, safer, and more efficient products. The standards behind these labels are based on scientific expertise and use the best available data. Look for these EPA program labels when buying:

  • EnergyStar - for energy efficient electronics and appliances
  • WaterSense - water efficient products
  • Design for the Environment (DfE) - safer household cleaners and other products. DfE allows products that have been determined to be safer for human health and the environment and effective to carry the DfE label.
  • SmartWay Certified Vehicle - cleaner, more fuel efficient cars and trucks

By making greener product choices you are saving money on utilities and fuel, supporting companies that are driving change and most importantly — you are joining millions of people helping to protect public health and the environment.

You can also choose to buy organic or locally produced food and eco-friendly clothing. For more information about national standards covering organic food, contact the U.S. Department of Agriculture’s Agricultural Marketing Service. There are no national standards for organic clothing, but some fabrics to consider include organic cotton, bark cloth, bamboo, and organic wool.

Beware: Verify Green Marketing Claims

The number of eco-label products,  claiming that they are "eco-friendly" or "all-natural", has increased due to a growing demand for "green products. While this is a positive trend, you may have concerns about "greenwashing" and uncertainty about which environmental standards and labels can be trusted. The Federal Trade Commission's Green Guides provide guidance for companies that make marketing claims regarding the environmental attributes of their products. Here are some tips to help you sort through eco-label marketing:

  • Look for specific (ex. "contains 75% post-consumer recycled materials") rather than vague statements about environmental impact.
  • Determine whether the green marketing claims apply to the packaging, the product, or both.
  • Beware of fake third-party certification. Visit Consumer Reports' website to find reliable environmental labels.

For more information about environmental advertising, contact the FTC.

Reusing and Recycling

Along with buying greener products, you can make a big impact by using the products you buy in ways that respect the environment by: using fewer products and following instructions for product use; conserving energy, water, and materials; recycling items made of materials such as glass, metal, plastic, or paper or disposing of products properly. 

Many utility companies now offer curbside recycling programs that provide U.S. households with a responsible and convenient way to recycle materials. To locate information on recycling services and efforts in your area, call the Earth 911 toll free hotline, 1-800-CLEANUP (253-2687). 

It is easy to safely dispose of many products. Others, such as car batteries, cell phones, televisions, paints, oils, and solvents, require special handling. You can responsibly dispose of these products through your local household hazardous wasters (HHW) collection facility or at your local government's annual HHW collection day. Some items may be given to charitable organizations or even dropped off at electronics retailers. Contact the Environmental Protection Agency (EPA) to help you make the right decisions about the best way to dispose of waste.

The Tax Return For 2012

Tax return for 2012 3. Tax return for 2012   Dispositions of Business Property Table of Contents Introduction Useful Items - You may want to see: What Is a Disposition of Property?Like-kind exchanges. Tax return for 2012 How Do I Figure a Gain or Loss?Is My Gain or Loss Ordinary or Capital? Is My Capital Gain or Loss Short Term or Long Term? Where Do I Report Gains and Losses? Introduction If you dispose of business property, you may have a gain or loss that you report on Form 1040. Tax return for 2012 However, in some cases you may have a gain that is not taxable or a loss that is not deductible. Tax return for 2012 This chapter discusses whether you have a disposition, how to figure the gain or loss, and where to report the gain or loss. Tax return for 2012 Useful Items - You may want to see: Publication 544 Sales and Other Dispositions of Assets Form (and Instructions) 4797 Sales of Business Property Sch D (Form 1040) Capital Gains and Losses See chapter 12 for information about getting publications and forms. Tax return for 2012 What Is a Disposition of Property? A disposition of property includes the following transactions. Tax return for 2012 You sell property for cash or other property. Tax return for 2012 You exchange property for other property. Tax return for 2012 You receive money as a tenant for the cancellation of a lease. Tax return for 2012 You receive money for granting the exclusive use of a copyright throughout its life in a particular medium. Tax return for 2012 You transfer property to satisfy a debt. Tax return for 2012 You abandon property. Tax return for 2012 Your bank or other financial institution forecloses on your mortgage or repossesses your property. Tax return for 2012 Your property is damaged, destroyed, or stolen, and you receive property or money in payment. Tax return for 2012 Your property is condemned, or disposed of under the threat of condemnation, and you receive property or money in payment. Tax return for 2012 For details about damaged, destroyed, or stolen property, see Publication 547, Casualties, Disasters, and Thefts. Tax return for 2012 For details about other dispositions, see chapter 1 in Publication 544. Tax return for 2012 Nontaxable exchanges. Tax return for 2012   Certain exchanges of property are not taxable. Tax return for 2012 This means any gain from the exchange is not recognized and you cannot deduct any loss. Tax return for 2012 Your gain or loss will not be recognized until you sell or otherwise dispose of the property you receive. Tax return for 2012 Like-kind exchanges. Tax return for 2012   A like-kind exchange is the exchange of property for the same kind of property. Tax return for 2012 It is the most common type of nontaxable exchange. Tax return for 2012 To be a like-kind exchange, the property traded and the property received must be both of the following. Tax return for 2012 Business or investment property. Tax return for 2012 Like property. Tax return for 2012   Report the exchange of like-kind property on Form 8824, Like-Kind Exchanges. Tax return for 2012 For more information about like-kind exchanges, see chapter 1 in Publication 544. Tax return for 2012 Installment sales. Tax return for 2012   An installment sale is a sale of property where you receive at least one payment after the tax year of the sale. Tax return for 2012 If you finance the buyer's purchase of your property, instead of having the buyer get a loan or mortgage from a third party, you probably have an installment sale. Tax return for 2012   For more information about installment sales, see Publication 537, Installment Sales. Tax return for 2012 Sale of a business. Tax return for 2012   The sale of a business usually is not a sale of one asset. Tax return for 2012 Instead, all the assets of the business are sold. Tax return for 2012 Generally, when this occurs, each asset is treated as being sold separately for determining the treatment of gain or loss. Tax return for 2012   Both the buyer and seller involved in the sale of a business must report to the IRS the allocation of the sales price among the business assets. Tax return for 2012 Use Form 8594, Asset Acquisition Statement Under Section 1060, to provide this information. Tax return for 2012 The buyer and seller should each attach Form 8594 to their federal income tax return for the year in which the sale occurred. Tax return for 2012   For more information about the sale of a business, see chapter 2 of Publication 544. Tax return for 2012 How Do I Figure a Gain or Loss? Table 3-1. Tax return for 2012 How To Figure a Gain or Loss IF your. Tax return for 2012 . Tax return for 2012 . Tax return for 2012 THEN you have a. Tax return for 2012 . Tax return for 2012 . Tax return for 2012 Adjusted basis is more than the amount realized Loss. Tax return for 2012 Amount realized is more than the adjusted basis Gain. Tax return for 2012 Basis, adjusted basis, amount realized, fair market value, and amount recognized are defined next. Tax return for 2012 You need to know these definitions to figure your gain or loss. Tax return for 2012 Basis. Tax return for 2012   The cost or purchase price of property is usually its basis for figuring the gain or loss from its sale or other disposition. Tax return for 2012 However, if you acquired the property by gift, inheritance, or in some way other than buying it, you must use a basis other than its cost. Tax return for 2012 For more information about basis, see Publication 551, Basis of Assets. Tax return for 2012 Adjusted basis. Tax return for 2012   The adjusted basis of property is your original cost or other basis plus certain additions, and minus certain deductions such as depreciation and casualty losses. Tax return for 2012 In determining gain or loss, the costs of transferring property to a new owner, such as selling expenses, are added to the adjusted basis of the property. Tax return for 2012 Amount realized. Tax return for 2012   The amount you realize from a disposition is the total of all money you receive plus the fair market value of all property or services you receive. Tax return for 2012 The amount you realize also includes any of your liabilities that were assumed by the buyer and any liabilities to which the property you transferred is subject, such as real estate taxes or a mortgage. Tax return for 2012 Fair market value. Tax return for 2012   Fair market value is the price at which the property would change hands between a buyer and a seller, neither having to buy or sell, and both having reasonable knowledge of all necessary facts. Tax return for 2012 Amount recognized. Tax return for 2012   Your gain or loss realized from a disposition of property is usually a recognized gain or loss for tax purposes. Tax return for 2012 Recognized gains must be included in gross income. Tax return for 2012 Recognized losses are deductible from gross income. Tax return for 2012 However, a gain or loss realized from certain exchanges of property is not recognized. Tax return for 2012 See  Nontaxable exchanges, earlier. Tax return for 2012 Also, you cannot deduct a loss from the disposition of property held for personal use. Tax return for 2012 Is My Gain or Loss Ordinary or Capital? You must classify your gains and losses as either ordinary or capital gains or losses. Tax return for 2012 You must do this to figure your net capital gain or loss. Tax return for 2012 Generally, you will have a capital gain or loss if you dispose of a capital asset. Tax return for 2012 For the most part, everything you own and use for personal purposes or investment is a capital asset. Tax return for 2012 Certain property you use in your business is not a capital asset. Tax return for 2012 A gain or loss from a disposition of this property is an ordinary gain or loss. Tax return for 2012 However, if you held the property longer than 1 year, you may be able to treat the gain or loss as a capital gain or loss. Tax return for 2012 These gains and losses are called section 1231 gains and losses. Tax return for 2012 For more information about ordinary and capital gains and losses, see chapters 2 and 3 in Publication 544. Tax return for 2012 Is My Capital Gain or Loss Short Term or Long Term? If you have a capital gain or loss, you must determine whether it is long term or short term. Tax return for 2012 Whether a gain or loss is long or short term depends on how long you own the property before you dispose of it. Tax return for 2012 The time you own property before disposing of it is called the holding period. Tax return for 2012 Table 3-2. Tax return for 2012 Do I Have a Short-Term or Long-Term Gain or Loss? IF you hold the property. Tax return for 2012 . Tax return for 2012 . Tax return for 2012 THEN you have a. Tax return for 2012 . Tax return for 2012 . Tax return for 2012 1 year or less Short-term capital gain or loss. Tax return for 2012 More than 1 year Long-term capital gain or loss. Tax return for 2012 For more information about short-term and long-term capital gains and losses, see chapter 4 of Publication 544. Tax return for 2012 Where Do I Report Gains and Losses? Report gains and losses from the following dispositions on the forms indicated. Tax return for 2012 The instructions for the forms explain how to fill them out. Tax return for 2012 Dispositions of business property and depreciable property. Tax return for 2012   Use Form 4797. Tax return for 2012 If you have taxable gain, you may also have to use Schedule D (Form 1040). Tax return for 2012 Like-kind exchanges. Tax return for 2012   Use Form 8824, Like-Kind Exchanges. Tax return for 2012 You may also have to use Form 4797 and Schedule D (Form 1040). Tax return for 2012 Installment sales. Tax return for 2012   Use Form 6252, Installment Sale Income. Tax return for 2012 You may also have to use Form 4797 and Schedule D (Form 1040). Tax return for 2012 Casualties and thefts. Tax return for 2012   Use Form 4684, Casualties and Thefts. Tax return for 2012 You may also have to use Form 4797. Tax return for 2012 Condemned property. Tax return for 2012   Use Form 4797. Tax return for 2012 You may also have to use Schedule D (Form 1040). Tax return for 2012 Prev  Up  Next   Home   More Online Publications