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When Can I File My 2011 Taxes

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When Can I File My 2011 Taxes

When can i file my 2011 taxes Index A Abandonment, Abandonment Accounting method Accrual, Accrual Method Cash, Cash Method Change in, Changes in Methods of Accounting Crop, Crop method. When can i file my 2011 taxes Farm inventory, Farm Inventory Accounting periods, Introduction Accrual method of accounting, Accrual Method Additional Medicare Tax withholding, What's New for 2013, Additional Medicare Tax. When can i file my 2011 taxes Adjusted basis for installment sale, Adjusted basis for installment sale purposes. When can i file my 2011 taxes Adjusted basis of assets, Adjusted Basis Agricultural activity codes, Schedule F, Reminders Agricultural program payments, Agricultural Program Payments Agricultural structure, defined, Agricultural structure. When can i file my 2011 taxes Alternative Depreciation System (ADS), Required use of ADS. When can i file my 2011 taxes , ADS election. When can i file my 2011 taxes Amortization Going into business, Business Start-Up Costs Reforestation expenses, Reforestation Costs Section 197 intangibles, Section 197 Intangibles Assessments By conservation district, Assessment by Conservation District Depreciable property, Assessment for Depreciable Property Assistance (see Tax help) Automobiles, depreciation, Limits for passenger automobiles. When can i file my 2011 taxes B Bankruptcy, Bankruptcy. When can i file my 2011 taxes Barter income, Barter income. When can i file my 2011 taxes Basis Adjusted, Adjusted basis. When can i file my 2011 taxes Installment sale, Adjusted basis for installment sale purposes. When can i file my 2011 taxes Involuntary conversion, Basis for depreciation. When can i file my 2011 taxes Like-kind exchange, Basis for depreciation. When can i file my 2011 taxes Partner's basis, Property Distributed From a Partnership or Corporation Replacement property, Basis of replacement property. When can i file my 2011 taxes Shareholder's basis, Property Distributed From a Partnership or Corporation Basis of assets Adjusted basis, Adjusted Basis Allocating to several assets, Allocating the Basis Changed to business use, Property changed from personal to business or rental use. When can i file my 2011 taxes Constructing assets, Constructing assets. When can i file my 2011 taxes Cost, Cost Basis Decreases, Decreases to Basis Depreciation, What Is the Basis for Depreciation? Exchanges Like-kind, Like-Kind Exchanges Nontaxable, Nontaxable Exchanges Partially nontaxable, Partially Nontaxable Exchanges Taxable, Taxable Exchanges Gifts, Property Received as a Gift Increases, Increases to Basis Real property, Real Property Received for services, Property received for services. When can i file my 2011 taxes Uniform capitalization rules, Uniform Capitalization Rules Below-market loans, Below-market loans. When can i file my 2011 taxes Books and records, Importance of Records Breeding fees, Breeding Fees Business income limit, section 179 expense deduction, Business Income Limit Business use of home, Business Use of Your Home C Canceled debt, Cancellation of Debt Capital assets, Capital Assets Capital expenses, Capital Expenses Car expenses, Truck and Car Expenses Cash method of accounting, Cash Method Casualties and thefts Adjustments to basis, Adjustments to basis. When can i file my 2011 taxes Casualty, defined, Casualty. When can i file my 2011 taxes Disaster area losses, Disaster Area Losses Leased property, Leased property. When can i file my 2011 taxes Livestock, Livestock or produce bought for resale. When can i file my 2011 taxes , Raised draft, breeding, dairy, or sporting animals. When can i file my 2011 taxes Reimbursement, Insurance and other reimbursements. When can i file my 2011 taxes Reporting gains and losses, Reporting Gains and Losses Theft, defined, Theft. When can i file my 2011 taxes Change in accounting method, Changes in Methods of Accounting Chickens, purchased, Chickens, seeds, and young plants. When can i file my 2011 taxes Christmas trees, Christmas tree cultivation. When can i file my 2011 taxes , Christmas trees. When can i file my 2011 taxes Club dues, Club dues and membership fees. When can i file my 2011 taxes Comments on publication, Comments and suggestions. When can i file my 2011 taxes Commodity Futures, Hedging (Commodity Futures) Wages, Noncash wages. When can i file my 2011 taxes Commodity Credit Corporation (CCC) Loans, Commodity Credit Corporation (CCC) Loans Market gain, Market Gain Community property, Community property. When can i file my 2011 taxes , Community property. When can i file my 2011 taxes Computer, software, Computer software. When can i file my 2011 taxes Condemnation, Casualties, Thefts, and Condemnations, Condemnation Conservation Cost-sharing exclusion, Conservation Expenses District assessments, Assessment by Conservation District Expenses, Conservation Expenses Plans, Conservation plan. When can i file my 2011 taxes Conservation Reserve Program, Conservation Reserve Program (CRP) payments. When can i file my 2011 taxes Conservation Reserve Program (CRP), Conservation Reserve Program (CRP) Constructing assets, Constructing assets. When can i file my 2011 taxes Constructive receipt of income, Constructive receipt. When can i file my 2011 taxes Contamination, Soil or other environmental contamination. When can i file my 2011 taxes Contract price, Contract price. When can i file my 2011 taxes Converted wetland, Converted Wetland and Highly Erodible Cropland Cooperatives, income from, Income From Cooperatives Cost-sharing exclusion, Cost-Sharing Exclusion (Improvements) Counter-cyclical payments, Direct payments and counter-cyclical payments. When can i file my 2011 taxes , Payments Under the Farm Security and Rural Investment Act of 2002 and Under the Food, Conservation, and Energy Act of 2008 Credits Employment, Employment Credits Fuel tax, Fuel tax credit and refund. When can i file my 2011 taxes , How To Claim a Credit or Refund, Claiming a Credit Social security and Medicare, Earning credits in 2013. When can i file my 2011 taxes Social security coverage, How to become insured under social security. When can i file my 2011 taxes State unemployment tax, Tax rate and credit. When can i file my 2011 taxes Crew leaders, Crew Leaders Crop Destroyed, Standing crop destroyed by casualty. When can i file my 2011 taxes Insurance proceeds, Crop Insurance and Crop Disaster Payments Method of accounting, Crop method. When can i file my 2011 taxes Shares, Rents (Including Crop Shares) Unharvested, Cost of raising unharvested crops. When can i file my 2011 taxes , Section 1231 transactions. When can i file my 2011 taxes , Gain or loss. When can i file my 2011 taxes Cropland, highly erodible, Converted Wetland and Highly Erodible Cropland D Damage Casualties and thefts, Casualties and Thefts Crop insurance, Crop Insurance and Crop Disaster Payments Tree seedlings, Tree Seedlings Debt Bad, Nonbusiness bad debt. When can i file my 2011 taxes Canceled, Cancellation of Debt, Canceled debt excluded from income. When can i file my 2011 taxes , Cancellation of debt. When can i file my 2011 taxes , Canceled debt. When can i file my 2011 taxes Nonrecourse, Amount realized on a nonrecourse debt. When can i file my 2011 taxes Qualified farm, Qualified Farm Debt Qualified principal residence, Qualified Principal Residence Debt Recourse, Amount realized on a recourse debt. When can i file my 2011 taxes Depletion, Depletion Depreciation, Claiming the Special Depreciation Allowance ADS election, ADS election. When can i file my 2011 taxes Conservation assets, Depreciable conservation assets. When can i file my 2011 taxes Deduction, Overview of Depreciation Incorrect amount deducted, How Do You Correct Depreciation Deductions? Limit for automobiles, Limits for passenger automobiles. When can i file my 2011 taxes Listed property, Additional Rules for Listed Property Raised livestock, Livestock. When can i file my 2011 taxes Recapture, When Do You Recapture MACRS Depreciation?, Depreciation Recapture, Section 1250 Property When to file, Do You Have To File Form 4562? Depreciation allowable, Basis adjustment for depreciation allowed or allowable. When can i file my 2011 taxes Depreciation allowed, Basis adjustment for depreciation allowed or allowable. When can i file my 2011 taxes Direct payments, Direct payments and counter-cyclical payments. When can i file my 2011 taxes , Payments Under the Farm Security and Rural Investment Act of 2002 and Under the Food, Conservation, and Energy Act of 2008 Disaster area losses, Disaster Area Losses Disaster payments, Crop Insurance and Crop Disaster Payments Disaster relief grants, Federal disaster relief grants. When can i file my 2011 taxes Disaster relief payments, Qualified disaster relief payments. When can i file my 2011 taxes Dispositions, Sale or other disposal of land during 9-year period. When can i file my 2011 taxes , Gain on sale of farmland. When can i file my 2011 taxes , Introduction Domestic production activities deduction, Domestic Production Activities Deduction Dyed diesel fuel, Dyed Diesel Fuel and Dyed Kerosene Dyed kerosene, Dyed Diesel Fuel and Dyed Kerosene E e-file, Reminders Easement, Easements and rights-of-way. When can i file my 2011 taxes , Easements. When can i file my 2011 taxes Election ADS depreciation, Electing ADS. When can i file my 2011 taxes , ADS election. When can i file my 2011 taxes Amortization Business start-up costs, Business Start-Up Costs Reforestation costs, Reforestation Costs Crop method, Election to use crop method. When can i file my 2011 taxes Cutting of timber, Election to treat cutting as a sale or exchange. When can i file my 2011 taxes Deducting conservation expenses, When to Deduct or Capitalize Not excluding cost-sharing payments, Electing not to exclude payments. When can i file my 2011 taxes Out of installment method, Electing out of the installment method. When can i file my 2011 taxes Postponing casualty gain, Postponing Gain Postponing reporting crop insurance proceeds, Election to postpone reporting until the following year. When can i file my 2011 taxes Section 179 expense deduction, How Do You Elect the Deduction? Electronic filing, Reminders Embryo transplants, Transplanted embryo. When can i file my 2011 taxes Employer identification number, Reminders, Employer identification number (EIN). When can i file my 2011 taxes Endangered species recovery expenses, Endangered species recovery expenses. When can i file my 2011 taxes Environmental contamination, Soil or other environmental contamination. When can i file my 2011 taxes Estimated tax Farm gross income, Gross Income From Farming Gross income, Gross Income Penalties, Estimated Tax Penalty for 2013 Exchanges Basis Like-kind, Like-Kind Exchanges Nontaxable, Nontaxable Exchanges Partially nontaxable, Partially Nontaxable Exchanges Taxable, Taxable Exchanges Like-kind, Like-Kind Exchanges Nontaxable, Like-Kind Exchanges Excise taxes Credit, Claiming a Credit Diesel fuel, Dyed Diesel Fuel and Dyed Kerosene Farming purposes, Fuels Used in Farming Home use of fuels, Fuels Used for Household Purposes or Other Than as a Fuel for Propulsion Engines Off-highway uses, Fuels Used in Off-Highway Business Use Refund, Claiming a Refund F Fair market value defined, Fair market value (FMV). When can i file my 2011 taxes , Fair market value (FMV). When can i file my 2011 taxes Family member Business expenses, Special rule for related persons. When can i file my 2011 taxes Installment sale, Sale to a related person. When can i file my 2011 taxes Like-kind exchange, Like-kind exchanges between related persons. When can i file my 2011 taxes Loss on sale or exchange of property, Losses from sales or exchanges between related persons. When can i file my 2011 taxes Personal-use property, Personal-use property. When can i file my 2011 taxes Social security coverage, Family Employees Farm Business expenses, Farm Business Expenses Business, defined, Business of Farming Defined, Farm defined. When can i file my 2011 taxes , Farm. When can i file my 2011 taxes Income averaging, Income Averaging for Farmers Rental, Farm rental. When can i file my 2011 taxes Sale of, Sale of a Farm Farmer, Farmer. When can i file my 2011 taxes Federal unemployment tax (FUTA), Federal Unemployment (FUTA) Tax Fertilizer, Fertilizer and Lime, Fertilizer and Lime Foreclosure, Foreclosure or Repossession Forestation costs, Forestation and reforestation costs. When can i file my 2011 taxes Form 1099-A, Form 1099-A. When can i file my 2011 taxes , Forms 1099-A and 1099-C. When can i file my 2011 taxes 1099-C, Cancellation of Debt, Form 1099-C. When can i file my 2011 taxes , Forms 1099-A and 1099-C. When can i file my 2011 taxes 1099-G, Market Gain, Payment to More Than One Person 1099-MISC, Reminders, Nonemployee compensation. When can i file my 2011 taxes 1099-PATR, Form 1099-PATR. When can i file my 2011 taxes 1128, Introduction 2210-F, Estimated Tax Penalty for 2013 3115, Changes in Methods of Accounting 4136, Claiming a Credit 4562, Do You Have To File Form 4562? 4797, Form 4797. When can i file my 2011 taxes , Recapture. When can i file my 2011 taxes , Reporting the exchange. When can i file my 2011 taxes 4835, Rents (Including Crop Shares) 5213, Using the presumption later. When can i file my 2011 taxes 6252, Form 6252. When can i file my 2011 taxes 8822, Reminders 8824, Reporting the exchange. When can i file my 2011 taxes 8849, Claiming a Refund 8886, Reminders 940, Form 940. When can i file my 2011 taxes 943, Form 943. When can i file my 2011 taxes 982, Form 982 I-9, Form I-9. When can i file my 2011 taxes SS-4, Reminders, Employer identification number (EIN). When can i file my 2011 taxes SS-5, Obtaining a social security number. When can i file my 2011 taxes T (Timber), Form T (Timber). When can i file my 2011 taxes W-2, Form W-2. When can i file my 2011 taxes W-4, Reminders, New hire reporting. When can i file my 2011 taxes , Form W-4. When can i file my 2011 taxes W-4V, Commodity Credit Corporation (CCC) Loans, Crop Insurance and Crop Disaster Payments W-7, Obtaining an individual taxpayer identification number. When can i file my 2011 taxes Free tax services, How To Get Tax Help, Free help with your tax return. When can i file my 2011 taxes Fuel tax credit or refund, Fuel tax credit and refund. When can i file my 2011 taxes , How To Claim a Credit or Refund G Gains and losses Basis of assets, Cost Basis Capital assets, defined, Capital Assets Casualty, How To Figure a Loss, Figuring a Gain Installment sales, Installment Sales Livestock, Livestock Long- or short-term, Long and Short Term Ordinary or capital, Ordinary or Capital Gain or Loss Sale of farm, Sale of a Farm Section 1231, Section 1231 Gains and Losses Theft, How To Figure a Loss, Figuring a Gain Timber, Timber General asset accounts, How Do You Use General Asset Accounts? Gifts, Crop shares you give to others (gift). When can i file my 2011 taxes , Cost related to gifts. When can i file my 2011 taxes , Property Received as a Gift, Gift. When can i file my 2011 taxes Going into business, Business Start-Up Costs Grants, disaster relief, Federal disaster relief grants. When can i file my 2011 taxes Gross profit percentage, Gross profit percentage. When can i file my 2011 taxes Gross profit, defined, Gross profit. When can i file my 2011 taxes Guarantee, Debt not payable on demand. When can i file my 2011 taxes H Health insurance deduction, Self-employed health insurance deduction. When can i file my 2011 taxes Hedging, Hedging (Commodity Futures) Help (see Tax help) Highway use tax, Highway use tax. When can i file my 2011 taxes Holding period, Holding period. When can i file my 2011 taxes Horticultural structure, Horticultural structure. When can i file my 2011 taxes I Illegal irrigation subsidy, Illegal federal irrigation subsidy. When can i file my 2011 taxes Important dates, Important Dates for 2014 Improvements, Cost-Sharing Exclusion (Improvements) Income Accounting for, Accounting Methods Accrual method of accounting, Income Canceled debt excluded, Cancellation of Debt From farming, Farm Income, Gross income from farming. When can i file my 2011 taxes , Gross Income From Farming Gross, Gross Income Not-for-profit farming, Not-for-Profit Farming Pasture, Pasture income and rental. When can i file my 2011 taxes Schedule F, Farm Income Withholding of tax, Federal Income Tax Withholding Income averaging (see Farm: Income averaging) Incorrect amount of depreciation deducted, How Do You Correct Depreciation Deductions? Individual taxpayer identification number (ITIN), Obtaining an individual taxpayer identification number. When can i file my 2011 taxes Inherited property, Inherited Property Insolvency, Insolvency. When can i file my 2011 taxes Installment sales, Form 6252. When can i file my 2011 taxes Electing out, Electing out of the installment method. When can i file my 2011 taxes Farm, sale of, Installment Sale of a Farm Figuring income, Figuring Installment Sale Income Reporting income, Form 6252. When can i file my 2011 taxes Unstated interest, Unstated interest. When can i file my 2011 taxes Insurance, Insurance, Self-employed health insurance deduction. When can i file my 2011 taxes Intangible property, Section 197 Intangibles Interest Expense, Interest Income, Interest income. When can i file my 2011 taxes Unstated, Unstated interest. When can i file my 2011 taxes Inventory Items included, Farm Inventory Methods of valuation, Inventory valuation methods. When can i file my 2011 taxes Involuntary conversions, Involuntary Conversions, Property acquired in a like-kind exchange or involuntary conversion. When can i file my 2011 taxes , Introduction Irrigation Illegal subsidy, Illegal federal irrigation subsidy. When can i file my 2011 taxes Project, Irrigation Project L Labor hired, Labor Hired Landlord participation, Landlord Participation in Farming Lease or purchase, Lease or Purchase Life tenant (see Term interests) Like-kind exchanges, Like-Kind Exchanges, Like-Kind Exchanges Lime, Fertilizer and Lime Limits At-risk, At-Risk Limits Business use of home, Deduction limit. When can i file my 2011 taxes Capital losses, Treatment of Capital Losses Conservation expenses, Assessment for Depreciable Property, 25% Limit on Deduction Depreciation Business-use, What Is the Business-Use Requirement? Excluded farm debt, Exclusion limit. When can i file my 2011 taxes Farm losses, Losses From Operating a Farm Loss of personal-use property, Deduction Limits on Losses of Personal-Use Property Not-for-profit farming, Not-for-Profit Farming Passive activity, Passive Activity Limits Percentage depletion, Taxable income limit. When can i file my 2011 taxes Prepaid farm supplies, Deduction limit. When can i file my 2011 taxes Reforestation costs, Reforestation Costs Section 179 expense deduction Automobile, Limits for passenger automobiles. When can i file my 2011 taxes Business income, Business Income Limit Dollar, Dollar Limits Time to keep records, How Long To Keep Records Listed property Defined, What Is Listed Property? Passenger automobile, Passenger automobiles. When can i file my 2011 taxes Rules, Additional Rules for Listed Property Livestock, Section 1231 transactions. When can i file my 2011 taxes Casualty and theft losses, Livestock or produce bought for resale. When can i file my 2011 taxes Crop shares, Crop shares you use to feed livestock. When can i file my 2011 taxes Depreciation, Livestock. When can i file my 2011 taxes Diseased, Diseased livestock. When can i file my 2011 taxes Feed assistance, Feed Assistance and Payments Immature, Immature livestock. When can i file my 2011 taxes Losses, Loss of livestock. When can i file my 2011 taxes , Livestock Purchased, Purchased livestock. When can i file my 2011 taxes Raised, Raised livestock. When can i file my 2011 taxes Sale of, Sales of Farm Products, Livestock Unit-livestock-price, inventory valuation, Unit-livestock-price method. When can i file my 2011 taxes Used in a farm business, Livestock used in farm business. When can i file my 2011 taxes Weather-related sales, Sales Caused by Weather-Related Conditions, Weather-related sales of livestock. When can i file my 2011 taxes Loans, Commodity Credit Corporation (CCC) Loans, Loan expenses. When can i file my 2011 taxes Losses At-risk limits, At-Risk Limits Casualty, Casualties, Thefts, and Condemnations Disaster areas, Disaster Area Losses Farming, Farming Losses Growing crops, Loss of growing plants, produce, and crops. When can i file my 2011 taxes Hobby farming, Not-for-Profit Farming Livestock, Livestock, Diseased livestock. When can i file my 2011 taxes Nondeductible, Other Nondeductible Items Theft, Casualties, Thefts, and Condemnations Lost income payments, Lost income payments. When can i file my 2011 taxes Lost property, Mislaid or lost property. When can i file my 2011 taxes M MACRS property Involuntary conversion, Property acquired in a like-kind exchange or involuntary conversion. When can i file my 2011 taxes Like-kind exchange, Property acquired in a like-kind exchange or involuntary conversion. When can i file my 2011 taxes Nontaxable transfer, Property acquired in a nontaxable transfer. When can i file my 2011 taxes Market gain, reporting, Market Gain Marketing quota penalties, Marketing Quota Penalties Material participation, Landlord Participation in Farming Meals, Meals. When can i file my 2011 taxes Membership fees, Club dues and membership fees. When can i file my 2011 taxes Methods of accounting, Accounting Methods Modified ACRS (MACRS) ADS election, ADS election. When can i file my 2011 taxes Conventions, Which Convention Applies? Depreciation methods, Which Depreciation Method Applies? Exchange, Property acquired in a like-kind exchange or involuntary conversion. When can i file my 2011 taxes Figuring the deduction, How Is the Depreciation Deduction Figured? Involuntary conversion, Property acquired in a like-kind exchange or involuntary conversion. When can i file my 2011 taxes Nontaxable transfer, Property acquired in a nontaxable transfer. When can i file my 2011 taxes Percentage tables, Rules for using the tables. When can i file my 2011 taxes Property classes, Which Property Class Applies Under GDS? Recovery periods, Which Recovery Period Applies? N New hire reporting, New hire reporting. When can i file my 2011 taxes Noncapital asset, Noncapital Assets Nontaxable exchanges, Like-Kind Exchanges Nontaxable transfer of MACRS property, Property acquired in a nontaxable transfer. When can i file my 2011 taxes Not-for-profit farming, Not-for-Profit Farming O Organizational costs, Business start-up and organizational costs. When can i file my 2011 taxes P Partners, limited, Limited partner. When can i file my 2011 taxes Partners, retired, Retired partner. When can i file my 2011 taxes Partners, Spouse, Business Owned and Operated by Spouses. When can i file my 2011 taxes Partnership, Partnership income or loss. When can i file my 2011 taxes Passenger automobile, Passenger automobiles. When can i file my 2011 taxes Pasture income, Pasture income and rental. When can i file my 2011 taxes Patronage dividends, Patronage Dividends Payments considered received, Payments Received or Considered Received Payments received, Payments Received or Considered Received Penalties Estimated tax, Estimated Tax Penalty for 2013 Returns, Estimated Tax Penalty for 2013 Trust fund recovery, Trust fund recovery penalty. When can i file my 2011 taxes Per-unit retain certificates, Per-Unit Retain Certificates Personal expenses, Personal, Living, and Family Expenses Placed in service, Placed in Service, What Is the Placed-in-Service Date? Postponing casualty gain, Postponing Gain Prepaid expense Advance premiums, Advance premiums. When can i file my 2011 taxes Extends useful life, Prepayment. When can i file my 2011 taxes Farm supplies, Prepaid Farm Supplies Livestock feed, Prepaid Livestock Feed Prizes, Prizes. When can i file my 2011 taxes Produce, Sales of Farm Products Property Changed to business use, Property changed from personal to business or rental use. When can i file my 2011 taxes Received for services, Property received for services. When can i file my 2011 taxes Repairs and improvements, How Do You Treat Repairs and Improvements? Section 1231, Section 1231 transactions. When can i file my 2011 taxes Section 1245, Section 1245 Property Section 1250, Section 1250 Property Section 1252, Section 1252 property. When can i file my 2011 taxes Section 1255, Section 1255 property. When can i file my 2011 taxes Tangible personal, Tangible personal property. When can i file my 2011 taxes Publications (see Tax help) Q Qualified disaster relief payments, Qualified disaster relief payments. When can i file my 2011 taxes Qualified farm debt, Qualified Farm Debt Qualified joint venture, Qualified joint venture. When can i file my 2011 taxes Qualified principal residence debt, Qualified Principal Residence Debt R Recapture Amortization, Depreciation and amortization. When can i file my 2011 taxes Basis reductions, Recapture of basis reductions. When can i file my 2011 taxes Certain depreciation, Recapture of certain depreciation. When can i file my 2011 taxes Cost-sharing payments, Recapture. When can i file my 2011 taxes Depreciation, When Do You Recapture MACRS Depreciation?, Depreciation Recapture, Depreciation recapture. When can i file my 2011 taxes Section 1245 property, Section 1245 Property Section 1250 property, Section 1250 Property Section 179 expense deduction, When Must You Recapture the Deduction? Section 179 GO Zone property, Recapture for qualified section 179 GO Zone property. When can i file my 2011 taxes Special depreciation allowance, When Must You Recapture an Allowance Recordkeeping, Importance of Records, Meals. When can i file my 2011 taxes Records on depreciable property, Depreciation Recapture Reforestation costs, Forestation and reforestation costs. When can i file my 2011 taxes , Reforestation Costs Refund Deduction taken, Refund or reimbursement. When can i file my 2011 taxes Fuel tax, Fuel tax credit and refund. When can i file my 2011 taxes , Including the Credit or Refund in Income Reimbursements Casualties and thefts, Casualty and theft losses. When can i file my 2011 taxes , Casualties and Thefts, Insurance and other reimbursements. When can i file my 2011 taxes Deduction taken, Refund or reimbursement. When can i file my 2011 taxes Expenses, Reimbursed expenses. When can i file my 2011 taxes Feed assistance, Feed Assistance and Payments Real estate taxes, Real estate taxes. When can i file my 2011 taxes Reforestation expenses, Qualifying costs. When can i file my 2011 taxes To employees, Reimbursements to employees. When can i file my 2011 taxes Related persons, Special rule for related persons. When can i file my 2011 taxes , Losses from sales or exchanges between related persons. When can i file my 2011 taxes , Special rules for related persons. When can i file my 2011 taxes , Like-kind exchanges between related persons. When can i file my 2011 taxes , Sale to a related person. When can i file my 2011 taxes , Buying replacement property from a related person. When can i file my 2011 taxes , Related persons. When can i file my 2011 taxes Rental income, Rents (Including Crop Shares) Rented property, improvements, Improvements to rented property. When can i file my 2011 taxes Repairs, Repairs and Maintenance Repairs and improvements, How Do You Treat Repairs and Improvements? Repayment of income, Repayment of income. When can i file my 2011 taxes Replacement Period, Replacement Period Property, Replacement Property Reportable transactions. When can i file my 2011 taxes , Reminders Repossessions, Foreclosure or Repossession Right-of-way income, Easements and rights-of-way. When can i file my 2011 taxes S Sale of home, Sale of your home. When can i file my 2011 taxes Section 179 expense deduction, Section 179 Expense Deduction How to elect, How Do You Elect the Deduction? Listed property, Additional Rules for Listed Property Qualifying property, What Property Qualifies? Recapture, When Must You Recapture the Deduction? Self-employed health insurance, Self-employed health insurance deduction. When can i file my 2011 taxes Self-employed health insurance deduction, Self-employed health insurance deduction. When can i file my 2011 taxes Self-employment tax Community property, Community property. When can i file my 2011 taxes Deduction, Deduction for employer-equivalent portion of self-employment tax. When can i file my 2011 taxes How to pay, How To Pay Self-Employment Tax Landlord participation, Landlord Participation in Farming Material participation, Material participation for landlords. When can i file my 2011 taxes Maximum net earnings, What's New for 2013 Methods for figuring net earnings, Methods for Figuring Net Earnings Optional method, Farm Optional Method Regular method, Regular Method Rental income, Landlord Participation in Farming Reporting, Reporting Self-Employment Tax Self-employment tax rate, Self-employment tax rate. When can i file my 2011 taxes Share farming, Share farmer. When can i file my 2011 taxes Tax rates, What's New for 2013 Who must pay, Who Must Pay Self-Employment Tax? Selling expenses, Selling expenses. When can i file my 2011 taxes Selling price Defined, Selling price. When can i file my 2011 taxes Reduced, Selling price reduced. When can i file my 2011 taxes Settlement costs (fees), Settlement costs. When can i file my 2011 taxes Social security and Medicare Credits of coverage, Earning credits in 2013. When can i file my 2011 taxes Withholding of tax, Social Security and Medicare Taxes Social security number, Obtaining a social security number. When can i file my 2011 taxes Software, computer, Computer software. When can i file my 2011 taxes Soil Conservation, Conservation Expenses Contamination, Soil or other environmental contamination. When can i file my 2011 taxes Special depreciation allowance How to elect not to claim, How Can You Elect Not To Claim the Allowance? Recapture, When Must You Recapture an Allowance Standard mileage rate, Standard mileage rate. When can i file my 2011 taxes Start-up costs for businesses, Business start-up and organizational costs. When can i file my 2011 taxes Suggestions for publication, Comments and suggestions. When can i file my 2011 taxes T Tangible personal property, Tangible personal property. When can i file my 2011 taxes Tax help, How To Get Tax Help Tax preparation fees, Tax preparation fees. When can i file my 2011 taxes Tax shelter At-risk limits, At-Risk Limits Defined, Tax shelter. When can i file my 2011 taxes Tax-free exchanges, Like-Kind Exchanges Taxes Excise, Excise Taxes Federal use, Highway use tax. When can i file my 2011 taxes General, Taxes Self-employment, Self-Employment Tax State and federal, State and federal income taxes. When can i file my 2011 taxes State and local general sales, State and local general sales taxes. When can i file my 2011 taxes Withholding, Federal income tax withholding. When can i file my 2011 taxes , Social Security and Medicare Taxes, Federal Income Tax Withholding Telephone expense, Telephone expense. When can i file my 2011 taxes Tenant house expenses, Tenant House Expenses Term interests, Certain term interests in property. When can i file my 2011 taxes Theft losses, Casualties, Thefts, and Condemnations Timber, Timber. When can i file my 2011 taxes , Timber Depletion, Timber Tobacco quota buyout payments, Tobacco Quota Buyout Program Payments Tobacco settlement payments, National Tobacco Growers' Settlement Trust Fund Payments Trade-in, Sale and Purchase Travel expenses, Travel Expenses Truck expenses, Truck and Car Expenses Trust fund recovery penalty, Trust fund recovery penalty. When can i file my 2011 taxes TTY/TDD information, How To Get Tax Help U Uniform capitalization rules Basis of assets, Uniform Capitalization Rules Inventory, Uniform capitalization rules. When can i file my 2011 taxes Unstated interest, Unstated interest. When can i file my 2011 taxes W Wages and salaries, Wages and salaries. When can i file my 2011 taxes Water conservation, Conservation Expenses Water well, Water well. When can i file my 2011 taxes , Water wells. When can i file my 2011 taxes Weather-related sales, livestock, Sales Caused by Weather-Related Conditions, Weather-related sales of livestock. When can i file my 2011 taxes Withholding Income tax, Federal Income Tax Withholding Social security and Medicare tax, Social Security and Medicare Taxes Prev  Up     Home   More Online Publications
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Tax Relief for Victims of Hurricane Sandy in Rhode Island

RI-2012-30, Nov. 15, 2012

BOSTON — Victims of Hurricane Sandy that began on Oct. 26, 2012 in parts of Rhode Island may qualify for tax relief from the Internal Revenue Service.

The President has declared Newport and Washington counties a federal disaster area. Individuals who reside or have a business in these counties may qualify for tax relief.

The declaration permits the IRS to postpone certain deadlines for taxpayers who reside or have a business in the disaster area. For instance, certain deadlines falling on or after Oct. 26, and on or before Feb. 1, have been postponed to Feb. 1, 2013.  

In addition, the IRS is waiving the failure-to-deposit penalties for employment and excise tax deposits due on or after Oct. 26, and on or before Nov. 26, as long as the deposits are made by Nov. 26, 2012.

If an affected taxpayer receives a penalty notice from the IRS, the taxpayer should call the telephone number on the notice to have the IRS abate any interest and any late filing or late payment penalties that would otherwise apply. Penalties or interest will be abated only for taxpayers who have an original or extended filing, payment or deposit due date, including an extended filing or payment due date, that falls within the postponement period.

The IRS automatically identifies taxpayers located in the covered disaster area and applies automatic filing and payment relief. But affected taxpayers who reside or have a business located outside the covered disaster area need to call the IRS disaster hotline at 866-562-5227 to request this tax relief.

For a full description of the relief being provided by the IRS to the victims of Hurricane Sandy, visit IRS.gov.

Covered Disaster Area

The counties above constitute a covered disaster area for purposes of Treas. Reg. § 301.7508A-1(d)(2) and are entitled to the relief detailed below.

Affected Taxpayers

Taxpayers considered to be affected taxpayers eligible for the postponement of time to file returns, pay taxes and perform other time-sensitive acts are those taxpayers listed in Treas. Reg. § 301.7508A-1(d)(1), and include individuals who live, and businesses whose principal place of business is located, in the covered disaster area. Taxpayers not in the covered disaster area, but whose records necessary to meet a deadline listed in Treas. Reg. § 301.7508A-1(c) are in the covered disaster area, are also entitled to relief. In addition, all relief workers affiliated with a recognized government or philanthropic organization assisting in the relief activities in the covered disaster area and any individual visiting the covered disaster area who was killed or injured as a result of the disaster are entitled to relief.

Grant of Relief

Under section 7508A, the IRS gives affected taxpayers until Feb. 1 to file most tax returns (including individual, corporate, and estate and trust income tax returns; partnership returns, S corporation returns, and trust returns; estate, gift, and generation-skipping transfer tax returns; and employment and certain excise tax returns), or to make tax payments, including estimated tax payments, that have either an original or extended due date occurring on or after Oct. 26 and on or before Feb. 1.

The IRS also gives affected taxpayers until Feb. 1 to perform other time-sensitive actions described in Treas. Reg. § 301.7508A-1(c)(1) and Rev. Proc. 2007-56, 2007-34 I.R.B. 388 (Aug. 20, 2007), that are due to be performed on or after Oct. 26 and on or before Feb. 1.

This relief also includes the filing of Form 5500 series returns, in the manner described in section 8 of Rev. Proc. 2007-56. The relief described in section 17 of Rev. Proc. 2007-56, pertaining to like-kind exchanges of property, also applies to certain taxpayers who are not otherwise affected taxpayers and may include acts required to be performed before or after the period above.

The postponement of time to file and pay does not apply to information returns in the W-2, 1098, 1099 series, or to Forms 1042-S or 8027. Penalties for failure to timely file information returns can be waived under existing procedures for reasonable cause. Likewise, the postponement does not apply to employment and excise tax deposits. The IRS, however, will abate penalties for failure to make timely employment and excise tax deposits due on or after Oct. 26 and on or before Nov. 26 provided the taxpayer makes these deposits by Nov. 26.

Casualty Losses

Affected taxpayers in a federally declared disaster area have the option of claiming disaster-related casualty losses on their federal income tax return for either this year or last year. Claiming the loss on an original or amended return for last year will get the taxpayer an earlier refund, but waiting to claim the loss on this year’s return could result in a greater tax saving, depending on other income factors.

Individuals may deduct personal property losses that are not covered by insurance or other reimbursements. For details, see Form 4684 and its instructions.

Affected taxpayers claiming the disaster loss on last year’s return should put the Disaster Designation “Rhode Island/Hurricane Sandy” at the top of the form so that the IRS can expedite the processing of the refund.

Other Relief

The IRS will waive the usual fees and expedite requests for copies of previously filed tax returns for affected taxpayers. Taxpayers should put the assigned Disaster Designation in red ink at the top of Form 4506, Request for Copy of Tax Return, or Form 4506-T, Request for Transcript of Tax Return, as appropriate, and submit it to the IRS.

Affected taxpayers who are contacted by the IRS on a collection or examination matter should explain how the disaster impacts them so that the IRS can provide appropriate consideration to their case.

Taxpayers may download forms and publications from the official IRS website, irs.gov, or order them by calling 800-TAX-FORM (800-829-3676). The IRS toll-free number for general tax questions is 800-829-1040.

Related Information

Disaster Assistance and Emergency Relief for Individuals and Businesses

Recent IRS Disaster Relief Announcements

 

Page Last Reviewed or Updated: 05-Nov-2013

The When Can I File My 2011 Taxes

When can i file my 2011 taxes 4. When can i file my 2011 taxes   Student Loan Interest Deduction Table of Contents Introduction Student Loan Interest DefinedQualified Student Loan Qualified Education Expenses Include As Interest Do Not Include As Interest When Must Interest Be Paid Can You Claim the DeductionNo Double Benefit Allowed Figuring the DeductionEffect of the Amount of Your Income on the Amount of Your Deduction Which Worksheet To Use Claiming the Deduction Introduction Generally, personal interest you pay, other than certain mortgage interest, is not deductible on your tax return. When can i file my 2011 taxes However, if your modified adjusted gross income (MAGI) is less than $75,000 ($155,000 if filing a joint return) there is a special deduction allowed for paying interest on a student loan (also known as an education loan) used for higher education. When can i file my 2011 taxes For most taxpayers, MAGI is the adjusted gross income as figured on their federal income tax return before subtracting any deduction for student loan interest. When can i file my 2011 taxes This deduction can reduce the amount of your income subject to tax by up to $2,500 in 2013. When can i file my 2011 taxes The student loan interest deduction is taken as an adjustment to income. When can i file my 2011 taxes This means you can claim this deduction even if you do not itemize deductions on Schedule A (Form 1040). When can i file my 2011 taxes This chapter explains: What type of loan interest you can deduct, Whether you can claim the deduction, What expenses you must have paid with the student loan, Who is an eligible student, How to figure the deduction, and How to claim the deduction. When can i file my 2011 taxes Table 4-1. When can i file my 2011 taxes Student Loan Interest Deduction at a Glance This table summarizes the features of the student loan interest deduction. When can i file my 2011 taxes Do not rely on this table alone. When can i file my 2011 taxes Refer to the text for complete details. When can i file my 2011 taxes Feature   Description Maximum benefit   You can reduce your income subject to tax by up to $2,500. When can i file my 2011 taxes Loan qualifications   Your student loan: •must have been taken out solely to pay qualified education expenses, and •cannot be from a related person or made under a qualified employer plan. When can i file my 2011 taxes Student qualifications   The student must be: •you, your spouse, or your dependent, and  •enrolled at least half-time in a degree program. When can i file my 2011 taxes Time limit on deduction   You can deduct interest paid during the remaining period of your student loan. When can i file my 2011 taxes Limit on modified adjusted gross income (MAGI)   $155,000 if married filing a joint return; $75,000 if single, head of household, or qualifying widow(er). When can i file my 2011 taxes Student Loan Interest Defined Student loan interest is interest you paid during the year on a qualified student loan. When can i file my 2011 taxes It includes both required and voluntary interest payments. When can i file my 2011 taxes Qualified Student Loan This is a loan you took out solely to pay qualified education expenses (defined later) that were: For you, your spouse, or a person who was your dependent when you took out the loan, Paid or incurred within a reasonable period of time before or after you took out the loan, and For education provided during an academic period for an eligible student. When can i file my 2011 taxes Loans from the following sources are not qualified student loans. When can i file my 2011 taxes A related person. When can i file my 2011 taxes A qualified employer plan. When can i file my 2011 taxes Your dependent. When can i file my 2011 taxes   Generally, your dependent is someone who is either a: Qualifying child, or Qualifying relative. When can i file my 2011 taxes You can find more information about dependents in Publication 501. When can i file my 2011 taxes Exceptions. When can i file my 2011 taxes   For purposes of the student loan interest deduction, there are the following exceptions to the general rules for dependents. When can i file my 2011 taxes An individual can be your dependent even if you are the dependent of another taxpayer. When can i file my 2011 taxes An individual can be your dependent even if the individual files a joint return with a spouse. When can i file my 2011 taxes An individual can be your dependent even if the individual had gross income for the year that was equal to or more than the exemption amount for the year ($3,900 for 2013). When can i file my 2011 taxes Reasonable period of time. When can i file my 2011 taxes   Qualified education expenses are treated as paid or incurred within a reasonable period of time before or after you take out the loan if they are paid with the proceeds of student loans that are part of a federal postsecondary education loan program. When can i file my 2011 taxes   Even if not paid with the proceeds of that type of loan, the expenses are treated as paid or incurred within a reasonable period of time if both of the following requirements are met. When can i file my 2011 taxes The expenses relate to a specific academic period, and The loan proceeds are disbursed within a period that begins 90 days before the start of that academic period and ends 90 days after the end of that academic period. When can i file my 2011 taxes   If neither of the above situations applies, the reasonable period of time usually is determined based on all the relevant facts and circumstances. When can i file my 2011 taxes Academic period. When can i file my 2011 taxes   An academic period includes a semester, trimester, quarter, or other period of study (such as a summer school session) as reasonably determined by an educational institution. When can i file my 2011 taxes In the case of an educational institution that uses credit hours or clock hours and does not have academic terms, each payment period can be treated as an academic period. When can i file my 2011 taxes Eligible student. When can i file my 2011 taxes   This is a student who was enrolled at least half-time in a program leading to a degree, certificate, or other recognized educational credential. When can i file my 2011 taxes Enrolled at least half-time. When can i file my 2011 taxes   A student was enrolled at least half-time if the student was taking at least half the normal full-time work load for his or her course of study. When can i file my 2011 taxes   The standard for what is half of the normal full-time work load is determined by each eligible educational institution. When can i file my 2011 taxes However, the standard may not be lower than any of those established by the U. When can i file my 2011 taxes S. When can i file my 2011 taxes Department of Education under the Higher Education Act of 1965. When can i file my 2011 taxes Related person. When can i file my 2011 taxes   You cannot deduct interest on a loan you get from a related person. When can i file my 2011 taxes Related persons include: Your spouse, Your brothers and sisters, Your half brothers and half sisters, Your ancestors (parents, grandparents, etc. When can i file my 2011 taxes ), Your lineal descendants (children, grandchildren, etc. When can i file my 2011 taxes ), and Certain corporations, partnerships, trusts, and exempt organizations. When can i file my 2011 taxes Qualified employer plan. When can i file my 2011 taxes   You cannot deduct interest on a loan made under a qualified employer plan or under a contract purchased under such a plan. When can i file my 2011 taxes Qualified Education Expenses For purposes of the student loan interest deduction, these expenses are the total costs of attending an eligible educational institution, including graduate school. When can i file my 2011 taxes They include amounts paid for the following items. When can i file my 2011 taxes Tuition and fees. When can i file my 2011 taxes Room and board. When can i file my 2011 taxes Books, supplies, and equipment. When can i file my 2011 taxes Other necessary expenses (such as transportation). When can i file my 2011 taxes The cost of room and board qualifies only to the extent that it is not more than the greater of: The allowance for room and board, as determined by the eligible educational institution, that was included in the cost of attendance (for federal financial aid purposes) for a particular academic period and living arrangement of the student, or The actual amount charged if the student is residing in housing owned or operated by the eligible educational institution. When can i file my 2011 taxes Eligible educational institution. When can i file my 2011 taxes   An eligible educational institution is any college, university, vocational school, or other postsecondary educational institution eligible to participate in a student aid program administered by the U. When can i file my 2011 taxes S. When can i file my 2011 taxes Department of Education. When can i file my 2011 taxes It includes virtually all accredited public, nonprofit, and proprietary (privately owned profit-making) postsecondary institutions. When can i file my 2011 taxes   Certain educational institutions located outside the United States also participate in the U. When can i file my 2011 taxes S. When can i file my 2011 taxes Department of Education's Federal Student Aid (FSA) programs. When can i file my 2011 taxes   For purposes of the student loan interest deduction, an eligible educational institution also includes an institution conducting an internship or residency program leading to a degree or certificate from an institution of higher education, a hospital, or a health care facility that offers postgraduate training. When can i file my 2011 taxes   An educational institution must meet the above criteria only during the academic period(s) for which the student loan was incurred. When can i file my 2011 taxes The deductibility of interest on the loan is not affected by the institution's subsequent loss of eligibility. When can i file my 2011 taxes    The educational institution should be able to tell you if it is an eligible educational institution. When can i file my 2011 taxes Adjustments to Qualified Education Expenses You must reduce your qualified education expenses by the total amount paid for them with the following tax-free items. When can i file my 2011 taxes Employer-provided educational assistance. When can i file my 2011 taxes See chapter 11, Employer-Provided Educational Assistance . When can i file my 2011 taxes Tax-free distribution of earnings from a Coverdell education savings account (ESA). When can i file my 2011 taxes See Tax-Free Distributions in chapter 7, Coverdell Education Savings Account. When can i file my 2011 taxes Tax-free distribution of earnings from a qualified tuition program (QTP). When can i file my 2011 taxes See Figuring the Taxable Portion of a Distribution in chapter 8, Qualified Tuition Program. When can i file my 2011 taxes U. When can i file my 2011 taxes S. When can i file my 2011 taxes savings bond interest that you exclude from income because it is used to pay qualified education expenses. When can i file my 2011 taxes See chapter 10, Education Savings Bond Program . When can i file my 2011 taxes The tax-free part of scholarships and fellowships. When can i file my 2011 taxes See Tax-Free Scholarships and Fellowships in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions. When can i file my 2011 taxes Veterans' educational assistance. When can i file my 2011 taxes See Veterans' Benefits in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions. When can i file my 2011 taxes Any other nontaxable (tax-free) payments (other than gifts or inheritances) received as educational assistance. When can i file my 2011 taxes Include As Interest In addition to simple interest on the loan, if all other requirements are met, the items discussed below can be student loan interest. When can i file my 2011 taxes Loan origination fee. When can i file my 2011 taxes   In general, this is a one-time fee charged by the lender when a loan is made. When can i file my 2011 taxes To be deductible as interest, a loan origination fee must be for the use of money rather than for property or services (such as commitment fees or processing costs) provided by the lender. When can i file my 2011 taxes A loan origination fee treated as interest accrues over the term of the loan. When can i file my 2011 taxes   Loan origination fees were not required to be reported on Form 1098-E, Student Loan Interest Statement, for loans made before September 1, 2004. When can i file my 2011 taxes If loan origination fees are not included in the amount reported on your Form 1098-E, you can use any reasonable method to allocate the loan origination fees over the term of the loan. When can i file my 2011 taxes The method shown in the example below allocates equal portions of the loan origination fee to each payment required under the terms of the loan. When can i file my 2011 taxes A method that results in the double deduction of the same portion of a loan origination fee would not be reasonable. When can i file my 2011 taxes Example. When can i file my 2011 taxes In August 2004, Bill took out a student loan for $16,000 to pay the tuition for his senior year of college. When can i file my 2011 taxes The lender charged a 3% loan origination fee ($480) that was withheld from the funds Bill received. When can i file my 2011 taxes Bill began making payments on his student loan in 2013. When can i file my 2011 taxes Because the loan origination fee was not included in his 2013 Form 1098-E, Bill can use any reasonable method to allocate that fee over the term of the loan. When can i file my 2011 taxes Bill's loan is payable in 120 equal monthly payments. When can i file my 2011 taxes He allocates the $480 fee equally over the total number of payments ($480 ÷ 120 months = $4 per month). When can i file my 2011 taxes Bill made 7 payments in 2013, so he paid $28 ($4 × 7) of interest attributable to the loan origination fee. When can i file my 2011 taxes To determine his student loan interest deduction, he will add the $28 to the amount of other interest reported to him on Form 1098-E. When can i file my 2011 taxes Capitalized interest. When can i file my 2011 taxes   This is unpaid interest on a student loan that is added by the lender to the outstanding principal balance of the loan. When can i file my 2011 taxes Capitalized interest is treated as interest for tax purposes and is deductible as payments of principal are made on the loan. When can i file my 2011 taxes No deduction for capitalized interest is allowed in a year in which no loan payments were made. When can i file my 2011 taxes Interest on revolving lines of credit. When can i file my 2011 taxes   This interest, which includes interest on credit card debt, is student loan interest if the borrower uses the line of credit (credit card) only to pay qualified education expenses. When can i file my 2011 taxes See Qualified Education Expenses , earlier. When can i file my 2011 taxes Interest on refinanced student loans. When can i file my 2011 taxes   This includes interest on both: Consolidated loans—loans used to refinance more than one student loan of the same borrower, and Collapsed loans—two or more loans of the same borrower that are treated by both the lender and the borrower as one loan. When can i file my 2011 taxes    If you refinance a qualified student loan for more than your original loan and you use the additional amount for any purpose other than qualified education expenses, you cannot deduct any interest paid on the refinanced loan. When can i file my 2011 taxes Voluntary interest payments. When can i file my 2011 taxes   These are payments made on a qualified student loan during a period when interest payments are not required, such as when the borrower has been granted a deferment or the loan has not yet entered repayment status. When can i file my 2011 taxes Example. When can i file my 2011 taxes The payments on Roger's student loan were scheduled to begin in June 2012, 6 months after he graduated from college. When can i file my 2011 taxes He began making payments as required. When can i file my 2011 taxes In September 2013, Roger enrolled in graduate school on a full-time basis. When can i file my 2011 taxes He applied for and was granted deferment of his loan payments while in graduate school. When can i file my 2011 taxes Wanting to pay down his student loan as much as possible, he made loan payments in October and November 2013. When can i file my 2011 taxes Even though these were voluntary (not required) payments, Roger can deduct the interest paid in October and November. When can i file my 2011 taxes Allocating Payments Between Interest and Principal The allocation of payments between interest and principal for tax purposes might not be the same as the allocation shown on the Form 1098-E or other statement you receive from the lender or loan servicer. When can i file my 2011 taxes To make the allocation for tax purposes, a payment generally applies first to stated interest that remains unpaid as of the date the payment is due, second to any loan origination fees allocable to the payment, third to any capitalized interest that remains unpaid as of the date the payment is due, and fourth to the outstanding principal. When can i file my 2011 taxes Example. When can i file my 2011 taxes In August 2012, Peg took out a $10,000 student loan to pay the tuition for her senior year of college. When can i file my 2011 taxes The lender charged a 3% loan origination fee ($300) that was withheld from the funds Peg received. When can i file my 2011 taxes The interest (5% simple) on this loan accrued while she completed her senior year and for 6 months after she graduated. When can i file my 2011 taxes At the end of that period, the lender determined the amount to be repaid by capitalizing all accrued but unpaid interest ($625 interest accrued from August 2012 through October 2013) and adding it to the outstanding principal balance of the loan. When can i file my 2011 taxes The loan is payable over 60 months, with a payment of $200. When can i file my 2011 taxes 51 due on the first of each month, beginning November 2013. When can i file my 2011 taxes Peg did not receive a Form 1098-E for 2013 from her lender because the amount of interest she paid did not require the lender to issue an information return. When can i file my 2011 taxes However, she did receive an account statement from the lender that showed the following 2013 payments on her outstanding loan of $10,625 ($10,000 principal + $625 accrued but unpaid interest). When can i file my 2011 taxes Payment Date   Payment   Stated Interest   Principal November 2013   $200. When can i file my 2011 taxes 51   $44. When can i file my 2011 taxes 27   $156. When can i file my 2011 taxes 24 December 2013   $200. When can i file my 2011 taxes 51   $43. When can i file my 2011 taxes 62   $156. When can i file my 2011 taxes 89 Totals   $401. When can i file my 2011 taxes 02   $87. When can i file my 2011 taxes 89   $313. When can i file my 2011 taxes 13 To determine the amount of interest that could be deducted on the loan for 2013, Peg starts with the total amount of stated interest she paid, $87. When can i file my 2011 taxes 89. When can i file my 2011 taxes Next, she allocates the loan origination fee over the term of the loan ($300 ÷ 60 months = $5 per month). When can i file my 2011 taxes A total of $10 ($5 of each of the two principal payments) should be treated as interest for tax purposes. When can i file my 2011 taxes Peg then applies the unpaid capitalized interest ($625) to the two principal payments in the order in which they were made, and determines that the remaining amount of principal of both payments is treated as interest for tax purposes. When can i file my 2011 taxes Assuming that Peg qualifies to take the student loan interest deduction, she can deduct $401. When can i file my 2011 taxes 02 ($87. When can i file my 2011 taxes 89 + $10 + $303. When can i file my 2011 taxes 13). When can i file my 2011 taxes For 2014, Peg will continue to allocate $5 of the loan origination fee to the principal portion of each monthly payment she makes and treat that amount as interest for tax purposes. When can i file my 2011 taxes She also will apply the remaining amount of capitalized interest ($625 − $303. When can i file my 2011 taxes 13 = $321. When can i file my 2011 taxes 87) to the principal payments in the order in which they are made until the balance is zero, and treat those amounts as interest for tax purposes. When can i file my 2011 taxes Do Not Include As Interest You cannot claim a student loan interest deduction for any of the following items. When can i file my 2011 taxes Interest you paid on a loan if, under the terms of the loan, you are not legally obligated to make interest payments. When can i file my 2011 taxes Loan origination fees that are payments for property or services provided by the lender, such as commitment fees or processing costs. When can i file my 2011 taxes Interest you paid on a loan to the extent payments were made through your participation in the National Health Service Corps Loan Repayment Program (the “NHSC Loan Repayment Program”) or certain other loan repayment assistance programs. When can i file my 2011 taxes For more information, see Student Loan Repayment Assistance in chapter 5, Student Loan Cancellations and Repayment Assistance. When can i file my 2011 taxes When Must Interest Be Paid You can deduct all interest you paid during the year on your student loan, including voluntary payments, until the loan is paid off. When can i file my 2011 taxes Can You Claim the Deduction Generally, you can claim the deduction if all of the following requirements are met. When can i file my 2011 taxes Your filing status is any filing status except married filing separately. When can i file my 2011 taxes No one else is claiming an exemption for you on his or her tax return. When can i file my 2011 taxes You are legally obligated to pay interest on a qualified student loan. When can i file my 2011 taxes You paid interest on a qualified student loan. When can i file my 2011 taxes Claiming an exemption for you. When can i file my 2011 taxes   Another taxpayer is claiming an exemption for you if he or she lists your name and other required information on his or her Form 1040 (or Form 1040A), line 6c, or Form 1040NR, line 7c. When can i file my 2011 taxes Example 1. When can i file my 2011 taxes During 2013, Josh paid $600 interest on his qualified student loan. When can i file my 2011 taxes Only he is legally obligated to make the payments. When can i file my 2011 taxes No one claimed an exemption for Josh for 2013. When can i file my 2011 taxes Assuming all other requirements are met, Josh can deduct the $600 of interest he paid on his 2013 Form 1040 or 1040A. When can i file my 2011 taxes Example 2. When can i file my 2011 taxes During 2013, Jo paid $1,100 interest on her qualified student loan. When can i file my 2011 taxes Only she is legally obligated to make the payments. When can i file my 2011 taxes Jo's parents claimed an exemption for her on their 2013 tax return. When can i file my 2011 taxes In this case, neither Jo nor her parents may deduct the student loan interest Jo paid in 2013. When can i file my 2011 taxes Interest paid by others. When can i file my 2011 taxes   If you are the person legally obligated to make interest payments and someone else makes a payment of interest on your behalf, you are treated as receiving the payments from the other person and, in turn, paying the interest. When can i file my 2011 taxes Example 1. When can i file my 2011 taxes Darla obtained a qualified student loan to attend college. When can i file my 2011 taxes After Darla's graduation from college, she worked as an intern for a nonprofit organization. When can i file my 2011 taxes As part of the internship program, the nonprofit organization made an interest payment on behalf of Darla. When can i file my 2011 taxes This payment was treated as additional compensation and reported in box 1 of her Form W-2. When can i file my 2011 taxes Assuming all other qualifications are met, Darla can deduct this payment of interest on her tax return. When can i file my 2011 taxes Example 2. When can i file my 2011 taxes Ethan obtained a qualified student loan to attend college. When can i file my 2011 taxes After graduating from college, the first monthly payment on his loan was due in December. When can i file my 2011 taxes As a gift, Ethan's mother made this payment for him. When can i file my 2011 taxes No one is claiming a dependency exemption for Ethan on his or her tax return. When can i file my 2011 taxes Assuming all other qualifications are met, Ethan can deduct this payment of interest on his tax return. When can i file my 2011 taxes No Double Benefit Allowed You cannot deduct as interest on a student loan any amount that is an allowable deduction under any other provision of the tax law (for example, as home mortgage interest). When can i file my 2011 taxes Figuring the Deduction Your student loan interest deduction for 2013 is generally the smaller of: $2,500, or The interest you paid in 2013. When can i file my 2011 taxes However, the amount determined above may be gradually reduced (phased out) or eliminated based on your filing status and MAGI as explained below. When can i file my 2011 taxes You can use Worksheet 4-1. When can i file my 2011 taxes Student Loan Interest Deduction Worksheet (at the end of this chapter) to figure both your MAGI and your deduction. When can i file my 2011 taxes Form 1098-E. When can i file my 2011 taxes   To help you figure your student loan interest deduction, you should receive Form 1098-E. When can i file my 2011 taxes Generally, an institution (such as a bank or governmental agency) that received interest payments of $600 or more during 2013 on one or more qualified student loans must send Form 1098-E (or acceptable substitute) to each borrower by January 31, 2014. When can i file my 2011 taxes   For qualified student loans taken out before September 1, 2004, the institution is required to include on Form 1098-E only payments of stated interest. When can i file my 2011 taxes Other interest payments, such as certain loan origination fees and capitalized interest, may not appear on the form you receive. When can i file my 2011 taxes However, if you pay qualifying interest that is not included on Form 1098-E, you can also deduct those amounts. When can i file my 2011 taxes See Allocating Payments Between Interest and Principal , earlier. When can i file my 2011 taxes    The lender may ask for a completed Form W-9S, or similar statement to obtain the borrower's name, address, and taxpayer identification number. When can i file my 2011 taxes The form may also be used by the borrower to certify that the student loan was incurred solely to pay for qualified education expenses. When can i file my 2011 taxes Effect of the Amount of Your Income on the Amount of Your Deduction The amount of your student loan interest deduction is phased out (gradually reduced) if your MAGI is between $60,000 and $75,000 ($125,000 and $155,000 if you file a joint return). When can i file my 2011 taxes You cannot take a student loan interest deduction if your MAGI is $75,000 or more ($155,000 or more if you file a joint return). When can i file my 2011 taxes Modified adjusted gross income (MAGI). When can i file my 2011 taxes   For most taxpayers, MAGI is adjusted gross income (AGI) as figured on their federal income tax return before subtracting any deduction for student loan interest. When can i file my 2011 taxes However, as discussed below, there may be other modifications. When can i file my 2011 taxes Table 4-2 shows how the amount of your MAGI can affect your student loan interest deduction. When can i file my 2011 taxes Table 4-2. When can i file my 2011 taxes Effect of MAGI on Student Loan Interest Deduction IF your filing status is. When can i file my 2011 taxes . When can i file my 2011 taxes . When can i file my 2011 taxes AND your MAGI is. When can i file my 2011 taxes . When can i file my 2011 taxes . When can i file my 2011 taxes THEN your student loan interest deduction is. When can i file my 2011 taxes . When can i file my 2011 taxes . When can i file my 2011 taxes single,  head of household, or qualifying widow(er) not more than $60,000 not affected by the phaseout. When can i file my 2011 taxes more than $60,000  but less than $75,000 reduced because of the phaseout. When can i file my 2011 taxes $75,000 or more eliminated by the phaseout. When can i file my 2011 taxes married filing joint return not more than $125,000 not affected by the phaseout. When can i file my 2011 taxes more than $125,000 but less than $155,000 reduced because of the phaseout. When can i file my 2011 taxes $155,000 or more eliminated by the phaseout. When can i file my 2011 taxes MAGI when using Form 1040A. When can i file my 2011 taxes   If you file Form 1040A, your MAGI is the AGI on line 22 of that form figured without taking into account any amount on line 18 (student loan interest deduction) and line 19 (tuition and fees deduction). When can i file my 2011 taxes MAGI when using Form 1040. When can i file my 2011 taxes   If you file Form 1040, your MAGI is the AGI on line 38 of that form figured without taking into account any amount on line 33 (student loan interest deduction), line 34 (tuition and fees deduction), or line 35 (domestic production activities deduction), and modified by adding back any: Foreign earned income exclusion, Foreign housing exclusion, Foreign housing deduction, Exclusion of income by bona fide residents of American Samoa, and Exclusion of income by bona fide residents of Puerto Rico. When can i file my 2011 taxes MAGI when using Form 1040NR. When can i file my 2011 taxes   If you file Form 1040NR, your MAGI is the AGI on line 36 of that form figured without taking into account any amount on line 33 (student loan interest deduction) and line 34 (domestic production activities deduction). When can i file my 2011 taxes MAGI when using Form 1040NR-EZ. When can i file my 2011 taxes   If you file Form 1040NR-EZ, your MAGI is the AGI on line 10 of that form figured without taking into account any amount on line 9 (student loan interest deduction). When can i file my 2011 taxes Phaseout. When can i file my 2011 taxes   If your MAGI is within the range of incomes where the credit must be reduced, you must figure your reduced deduction. When can i file my 2011 taxes To figure the phaseout, multiply your interest deduction (before the phaseout) by a fraction. When can i file my 2011 taxes The numerator is your MAGI minus $60,000 ($125,000 in the case of a joint return). When can i file my 2011 taxes The denominator is $15,000 ($30,000 in the case of a joint return). When can i file my 2011 taxes Subtract the result from your deduction (before the phaseout) to give you the amount you can deduct. When can i file my 2011 taxes Example 1. When can i file my 2011 taxes During 2013 you paid $800 interest on a qualified student loan. When can i file my 2011 taxes Your 2013 MAGI is $145,000 and you are filing a joint return. When can i file my 2011 taxes You must reduce your deduction by $533, figured as follows. When can i file my 2011 taxes   $800 × $145,000 − $125,000  $30,000 = $533   Your reduced student loan interest deduction is $267 ($800 − $533). When can i file my 2011 taxes Example 2. When can i file my 2011 taxes The facts are the same as in Example 1 except that you paid $2,750 interest. When can i file my 2011 taxes Your maximum deduction for 2013 is $2,500. When can i file my 2011 taxes You must reduce your maximum deduction by $1,667, figured as follows. When can i file my 2011 taxes   $2,500 × $145,000 − $125,000  $30,000 = $1,667   In this example, your reduced student loan interest deduction is $833 ($2,500 − $1,667). When can i file my 2011 taxes Which Worksheet To Use Generally, you figure the deduction using the Student Loan Interest Deduction Worksheet in the instructions for Form 1040, Form 1040A, or Form 1040NR. When can i file my 2011 taxes However, if you are filing Form 2555, Foreign Earned Income, Form 2555-EZ, Foreign Earned Income Exclusion, or Form 4563, Exclusion of Income for Bona Fide Residents of American Samoa, or you are excluding income from sources within Puerto Rico, you must complete Worksheet 4-1. When can i file my 2011 taxes Student Loan Interest Deduction Worksheet at the end of this chapter. When can i file my 2011 taxes Claiming the Deduction The student loan interest deduction is an adjustment to income. When can i file my 2011 taxes To claim the deduction, enter the allowable amount on line 33 (Form 1040), line 18 (Form 1040A), line 33 (Form 1040NR), or line 9 (Form 1040NR-EZ). When can i file my 2011 taxes Worksheet 4-1. When can i file my 2011 taxes Student Loan Interest Deduction Worksheet Use this worksheet instead of the worksheet in the Form 1040 instructions if you are filing Form 2555, 2555-EZ, or 4563, or you are excluding income from sources within Puerto Rico. When can i file my 2011 taxes Before using this worksheet, you must complete Form 1040, lines 7 through 32, plus any amount to be entered on the dotted line next to line 36. When can i file my 2011 taxes 1. When can i file my 2011 taxes Enter the total interest you paid in 2013 on qualified student loans. When can i file my 2011 taxes Do not enter  more than $2,500 1. When can i file my 2011 taxes   2. When can i file my 2011 taxes Enter the amount from Form 1040, line 22 2. When can i file my 2011 taxes       3. When can i file my 2011 taxes Enter the total of the amounts from Form 1040,  lines 23 through 32 3. When can i file my 2011 taxes           4. When can i file my 2011 taxes Enter the total of any amounts entered on the dotted line next to Form 1040, line 36 4. When can i file my 2011 taxes           5. When can i file my 2011 taxes Add lines 3 and 4 5. When can i file my 2011 taxes       6. When can i file my 2011 taxes Subtract line 5 from line 2 6. When can i file my 2011 taxes       7. When can i file my 2011 taxes Enter any foreign earned income exclusion and/or housing  exclusion (Form 2555, line 45, or Form 2555-EZ, line 18) 7. When can i file my 2011 taxes       8. When can i file my 2011 taxes Enter any foreign housing deduction (Form 2555, line 50) 8. When can i file my 2011 taxes       9. When can i file my 2011 taxes Enter the amount of income from Puerto Rico you are excluding 9. When can i file my 2011 taxes       10. When can i file my 2011 taxes Enter the amount of income from American Samoa  you are excluding (Form 4563, line 15) 10. When can i file my 2011 taxes       11. When can i file my 2011 taxes Add lines 6 through 10. When can i file my 2011 taxes This is your modified adjusted gross income 11. When can i file my 2011 taxes   12. When can i file my 2011 taxes Enter the amount shown below for your filing status 12. When can i file my 2011 taxes     •Single, head of household, or qualifying widow(er)—$60,000       •Married filing jointly—$125,000     13. When can i file my 2011 taxes Is the amount on line 11 more than the amount on line 12?       □ No. When can i file my 2011 taxes Skip lines 13 and 14, enter -0- on line 15, and go to line 16. When can i file my 2011 taxes       □ Yes. When can i file my 2011 taxes Subtract line 12 from line 11 13. When can i file my 2011 taxes   14. When can i file my 2011 taxes Divide line 13 by $15,000 ($30,000 if married filing jointly). When can i file my 2011 taxes Enter the result as a decimal  (rounded to at least three places). When can i file my 2011 taxes If the result is 1. When can i file my 2011 taxes 000 or more, enter 1. When can i file my 2011 taxes 000 14. When can i file my 2011 taxes . When can i file my 2011 taxes 15. When can i file my 2011 taxes Multiply line 1 by line 14 15. When can i file my 2011 taxes   16. When can i file my 2011 taxes Student loan interest deduction. When can i file my 2011 taxes Subtract line 15 from line 1. When can i file my 2011 taxes Enter the result here  and on Form 1040, line 33. When can i file my 2011 taxes Do not include this amount in figuring any other  deduction on your return (such as on Schedule A, C, E, etc. When can i file my 2011 taxes ) 16. When can i file my 2011 taxes   Prev  Up  Next   Home   More Online Publications