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Where Can I Get 2012 Federal Tax Forms

Where can i get 2012 federal tax forms 2. Where can i get 2012 federal tax forms   Employees' Pay Table of Contents Introduction Topics - This chapter discusses: Useful Items - You may want to see: Tests for Deducting PayTest 1—Reasonableness Test 2—For Services Performed Kinds of PayAwards Bonuses Education Expenses Fringe Benefits Loans or Advances Property Reimbursements for Business Expenses Sick and Vacation Pay Introduction You can generally deduct the amount you pay your employees for the services they perform. Where can i get 2012 federal tax forms The pay may be in cash, property, or services. Where can i get 2012 federal tax forms It may include wages, salaries, bonuses, commissions, or other non-cash compensation such as vacation allowances and fringe benefits. Where can i get 2012 federal tax forms For information about deducting employment taxes, see chapter 5. Where can i get 2012 federal tax forms You can claim employment credits, such as the following, if you hire individuals who meet certain requirements. Where can i get 2012 federal tax forms Empowerment zone employment credit (Form 8844). Where can i get 2012 federal tax forms Indian employment credit (Form 8845). Where can i get 2012 federal tax forms Work opportunity credit (Form 5884). Where can i get 2012 federal tax forms Credit for employer differential wage payments (Form 8932). Where can i get 2012 federal tax forms Reduce your deduction for employee wages by the amount of employment credits you claim. Where can i get 2012 federal tax forms For more information about these credits, see the form on which the credit is claimed. Where can i get 2012 federal tax forms Topics - This chapter discusses: Tests for deducting pay Kinds of pay Useful Items - You may want to see: Publication 15 (Circular E), Employer's Tax Guide 15-A Employer's Supplemental Tax Guide 15-B Employer's Tax Guide to Fringe Benefits See chapter 12 for information about getting publications and forms. Where can i get 2012 federal tax forms Tests for Deducting Pay To be deductible, your employees' pay must be an ordinary and necessary business expense and you must pay or incur it. Where can i get 2012 federal tax forms These and other requirements that apply to all business expenses are explained in chapter 1. Where can i get 2012 federal tax forms In addition, the pay must meet both of the following tests. Where can i get 2012 federal tax forms Test 1. Where can i get 2012 federal tax forms It must be reasonable. Where can i get 2012 federal tax forms Test 2. Where can i get 2012 federal tax forms It must be for services performed. Where can i get 2012 federal tax forms The form or method of figuring the pay does not affect its deductibility. Where can i get 2012 federal tax forms For example, bonuses and commissions based on sales or earnings, and paid under an agreement made before the services were performed, are both deductible. Where can i get 2012 federal tax forms Test 1—Reasonableness You must be able to prove that the pay is reasonable. Where can i get 2012 federal tax forms Whether the pay is reasonable depends on the circumstances that existed when you contracted for the services, not those that exist when reasonableness is questioned. Where can i get 2012 federal tax forms If the pay is excessive, the excess pay is disallowed as a deduction. Where can i get 2012 federal tax forms Factors to consider. Where can i get 2012 federal tax forms   Determine the reasonableness of pay by the facts and circumstances. Where can i get 2012 federal tax forms Generally, reasonable pay is the amount that a similar business would pay for the same or similar services. Where can i get 2012 federal tax forms   To determine if pay is reasonable, also consider the following items and any other pertinent facts. Where can i get 2012 federal tax forms The duties performed by the employee. Where can i get 2012 federal tax forms The volume of business handled. Where can i get 2012 federal tax forms The character and amount of responsibility. Where can i get 2012 federal tax forms The complexities of your business. Where can i get 2012 federal tax forms The amount of time required. Where can i get 2012 federal tax forms The cost of living in the locality. Where can i get 2012 federal tax forms The ability and achievements of the individual employee performing the service. Where can i get 2012 federal tax forms The pay compared with the gross and net income of the business, as well as with distributions to shareholders if the business is a corporation. Where can i get 2012 federal tax forms Your policy regarding pay for all your employees. Where can i get 2012 federal tax forms The history of pay for each employee. Where can i get 2012 federal tax forms Test 2—For Services Performed You must be able to prove the payment was made for services actually performed. Where can i get 2012 federal tax forms Employee-shareholder salaries. Where can i get 2012 federal tax forms   If a corporation pays an employee who is also a shareholder a salary that is unreasonably high considering the services actually performed, the excessive part of the salary may be treated as a constructive dividend to the employee-shareholder. Where can i get 2012 federal tax forms The excessive part of the salary would not be allowed as a salary deduction by the corporation. Where can i get 2012 federal tax forms For more information on corporate distributions to shareholders, see Publication 542, Corporations. Where can i get 2012 federal tax forms Kinds of Pay Some of the ways you may provide pay to your employees in addition to regular wages or salaries are discussed next. Where can i get 2012 federal tax forms For specialized and detailed information on employees' pay and the employment tax treatment of employees' pay, see Publications 15, 15-A, and 15-B. Where can i get 2012 federal tax forms Awards You can generally deduct amounts you pay to your employees as awards, whether paid in cash or property. Where can i get 2012 federal tax forms If you give property to an employee as an employee achievement award, your deduction may be limited. Where can i get 2012 federal tax forms Achievement awards. Where can i get 2012 federal tax forms   An achievement award is an item of tangible personal property that meets all the following requirements. Where can i get 2012 federal tax forms It is given to an employee for length of service or safety achievement. Where can i get 2012 federal tax forms It is awarded as part of a meaningful presentation. Where can i get 2012 federal tax forms It is awarded under conditions and circumstances that do not create a significant likelihood of disguised pay. Where can i get 2012 federal tax forms Length-of-service award. Where can i get 2012 federal tax forms    An award will qualify as a length-of-service award only if either of the following applies. Where can i get 2012 federal tax forms The employee receives the award after his or her first 5 years of employment. Where can i get 2012 federal tax forms The employee did not receive another length-of-service award (other than one of very small value) during the same year or in any of the prior 4 years. Where can i get 2012 federal tax forms Safety achievement award. Where can i get 2012 federal tax forms    An award for safety achievement will qualify as an achievement award unless one of the following applies. Where can i get 2012 federal tax forms It is given to a manager, administrator, clerical employee, or other professional employee. Where can i get 2012 federal tax forms During the tax year, more than 10% of your employees, excluding those listed in (1), have already received a safety achievement award (other than one of very small value). Where can i get 2012 federal tax forms Deduction limit. Where can i get 2012 federal tax forms   Your deduction for the cost of employee achievement awards given to any one employee during the tax year is limited to the following. Where can i get 2012 federal tax forms $400 for awards that are not qualified plan awards. Where can i get 2012 federal tax forms $1,600 for all awards, whether or not qualified plan awards. Where can i get 2012 federal tax forms   A qualified plan award is an achievement award given as part of an established written plan or program that does not favor highly compensated employees as to eligibility or benefits. Where can i get 2012 federal tax forms   A highly compensated employee is an employee who meets either of the following tests. Where can i get 2012 federal tax forms The employee was a 5% owner at any time during the year or the preceding year. Where can i get 2012 federal tax forms The employee received more than $115,000 in pay for the preceding year. Where can i get 2012 federal tax forms You can choose to ignore test (2) if the employee was not also in the top 20% of employees ranked by pay for the preceding year. Where can i get 2012 federal tax forms   An award is not a qualified plan award if the average cost of all the employee achievement awards given during the tax year (that would be qualified plan awards except for this limit) is more than $400. Where can i get 2012 federal tax forms To figure this average cost, ignore awards of nominal value. Where can i get 2012 federal tax forms Deduct achievement awards as a nonwage business expense on your return or business schedule. Where can i get 2012 federal tax forms You may not owe employment taxes on the value of some achievement awards you provide to an employee. Where can i get 2012 federal tax forms See Publication 15-B. Where can i get 2012 federal tax forms Bonuses You can generally deduct a bonus paid to an employee if you intended the bonus as additional pay for services, not as a gift, and the services were performed. Where can i get 2012 federal tax forms However, the total bonuses, salaries, and other pay must be reasonable for the services performed. Where can i get 2012 federal tax forms If the bonus is paid in property, see Property , later. Where can i get 2012 federal tax forms Gifts of nominal value. Where can i get 2012 federal tax forms    If, to promote employee goodwill, you distribute food or merchandise of nominal value to your employees at holidays, you can deduct the cost of these items as a nonwage business expense. Where can i get 2012 federal tax forms Your deduction for de minimis gifts of food or drink are not subject to the 50% deduction limit that generally applies to meals. Where can i get 2012 federal tax forms For more information on this deduction limit, see Meals and lodging , later. Where can i get 2012 federal tax forms Education Expenses If you pay or reimburse education expenses for an employee, you can deduct the payments if they are part of a qualified educational assistance program. Where can i get 2012 federal tax forms Deduct them on the “Employee benefit programs” or other appropriate line of your tax return. Where can i get 2012 federal tax forms For information on educational assistance programs, see Educational Assistance in section 2 of Publication 15-B. Where can i get 2012 federal tax forms Fringe Benefits A fringe benefit is a form of pay for the performance of services. Where can i get 2012 federal tax forms You can generally deduct the cost of fringe benefits. Where can i get 2012 federal tax forms You may be able to exclude all or part of the value of some fringe benefits from your employees' pay. Where can i get 2012 federal tax forms You also may not owe employment taxes on the value of the fringe benefits. Where can i get 2012 federal tax forms See Table 2-1, Special Rules for Various Types of Fringe Benefits, in Publication 15-B for details. Where can i get 2012 federal tax forms Your deduction for the cost of fringe benefits for activities generally considered entertainment, amusement, or recreation, or for a facility used in connection with such an activity (for example, a company aircraft) for certain officers, directors, and more-than-10% shareholders is limited. Where can i get 2012 federal tax forms Certain fringe benefits are discussed next. Where can i get 2012 federal tax forms See Publication 15-B for more details on these and other fringe benefits. Where can i get 2012 federal tax forms Meals and lodging. Where can i get 2012 federal tax forms   You can usually deduct the cost of furnishing meals and lodging to your employees. Where can i get 2012 federal tax forms Deduct the cost in whatever category the expense falls. Where can i get 2012 federal tax forms For example, if you operate a restaurant, deduct the cost of the meals you furnish to employees as part of the cost of goods sold. Where can i get 2012 federal tax forms If you operate a nursing home, motel, or rental property, deduct the cost of furnishing lodging to an employee as expenses for utilities, linen service, salaries, depreciation, etc. Where can i get 2012 federal tax forms Deduction limit on meals. Where can i get 2012 federal tax forms   You can generally deduct only 50% of the cost of furnishing meals to your employees. Where can i get 2012 federal tax forms However, you can deduct the full cost of the following meals. Where can i get 2012 federal tax forms Meals whose value you include in an employee's wages. Where can i get 2012 federal tax forms Meals that qualify as a de minimis fringe benefit as discussed in section 2 of Publication 15-B. Where can i get 2012 federal tax forms This generally includes meals you furnish to employees at your place of business if more than half of these employees are provided the meals for your convenience. Where can i get 2012 federal tax forms Meals you furnish to your employees at the work site when you operate a restaurant or catering service. Where can i get 2012 federal tax forms Meals you furnish to your employees as part of the expense of providing recreational or social activities, such as a company picnic. Where can i get 2012 federal tax forms Meals you are required by federal law to furnish to crew members of certain commercial vessels (or would be required to furnish if the vessels were operated at sea). Where can i get 2012 federal tax forms This does not include meals you furnish on vessels primarily providing luxury water transportation. Where can i get 2012 federal tax forms Meals you furnish on an oil or gas platform or drilling rig located offshore or in Alaska. Where can i get 2012 federal tax forms This includes meals you furnish at a support camp that is near and integral to an oil or gas drilling rig located in Alaska. Where can i get 2012 federal tax forms Employee benefit programs. Where can i get 2012 federal tax forms   Employee benefit programs include the following. Where can i get 2012 federal tax forms Accident and health plans. Where can i get 2012 federal tax forms Adoption assistance. Where can i get 2012 federal tax forms Cafeteria plans. Where can i get 2012 federal tax forms Dependent care assistance. Where can i get 2012 federal tax forms Education assistance. Where can i get 2012 federal tax forms Life insurance coverage. Where can i get 2012 federal tax forms Welfare benefit funds. Where can i get 2012 federal tax forms   You can generally deduct amounts you spend on employee benefit programs on the applicable line of your tax return. Where can i get 2012 federal tax forms For example, if you provide dependent care by operating a dependent care facility for your employees, deduct your costs in whatever categories they fall (utilities, salaries, etc. Where can i get 2012 federal tax forms ). Where can i get 2012 federal tax forms Life insurance coverage. Where can i get 2012 federal tax forms   You cannot deduct the cost of life insurance coverage for you, an employee, or any person with a financial interest in your business, if you are directly or indirectly the beneficiary of the policy. Where can i get 2012 federal tax forms See Regulations section 1. Where can i get 2012 federal tax forms 264-1 for more information. Where can i get 2012 federal tax forms Welfare benefit funds. Where can i get 2012 federal tax forms   A welfare benefit fund is a funded plan (or a funded arrangement having the effect of a plan) that provides welfare benefits to your employees, independent contractors, or their beneficiaries. Where can i get 2012 federal tax forms Welfare benefits are any benefits other than deferred compensation or transfers of restricted property. Where can i get 2012 federal tax forms   Your deduction for contributions to a welfare benefit fund is limited to the fund's qualified cost for the tax year. Where can i get 2012 federal tax forms If your contributions to the fund are more than its qualified cost, carry the excess over to the next tax year. Where can i get 2012 federal tax forms   Generally, the fund's “qualified cost” is the total of the following amounts, reduced by the after-tax income of the fund. Where can i get 2012 federal tax forms The cost you would have been able to deduct using the cash method of accounting if you had paid for the benefits directly. Where can i get 2012 federal tax forms The contributions added to a reserve account that are needed to fund claims incurred but not paid as of the end of the year. Where can i get 2012 federal tax forms These claims can be for supplemental unemployment benefits, severance pay, or disability, medical, or life insurance benefits. Where can i get 2012 federal tax forms   For more information, see sections 419(c) and 419A of the Internal Revenue Code and the related regulations. Where can i get 2012 federal tax forms Loans or Advances You generally can deduct as wages an advance you make to an employee for services performed if you do not expect the employee to repay the advance. Where can i get 2012 federal tax forms However, if the employee performs no services, treat the amount you advanced as a loan. Where can i get 2012 federal tax forms If the employee does not repay the loan, treat it as income to the employee. Where can i get 2012 federal tax forms Below-market interest rate loans. Where can i get 2012 federal tax forms   On certain loans you make to an employee or shareholder, you are treated as having received interest income and as having paid compensation or dividends equal to that interest. Where can i get 2012 federal tax forms See Below-Market Loans in chapter 4. Where can i get 2012 federal tax forms Property If you transfer property (including your company's stock) to an employee as payment for services, you can generally deduct it as wages. Where can i get 2012 federal tax forms The amount you can deduct is the property's fair market value on the date of the transfer less any amount the employee paid for the property. Where can i get 2012 federal tax forms You can claim the deduction only for the tax year in which your employee includes the property's value in income. Where can i get 2012 federal tax forms Your employee is deemed to have included the value in income if you report it on Form W-2, Wage and Tax Statement, in a timely manner. Where can i get 2012 federal tax forms You treat the deductible amount as received in exchange for the property, and you must recognize any gain or loss realized on the transfer, unless it is the company's stock transferred as payment for services. Where can i get 2012 federal tax forms Your gain or loss is the difference between the fair market value of the property and its adjusted basis on the date of transfer. Where can i get 2012 federal tax forms These rules also apply to property transferred to an independent contractor for services, generally reported on Form 1099-MISC, Miscellaneous Income. Where can i get 2012 federal tax forms Restricted property. Where can i get 2012 federal tax forms   If the property you transfer for services is subject to restrictions that affect its value, you generally cannot deduct it and do not report gain or loss until it is substantially vested in the recipient. Where can i get 2012 federal tax forms However, if the recipient pays for the property, you must report any gain at the time of the transfer up to the amount paid. Where can i get 2012 federal tax forms    “Substantially vested” means the property is not subject to a substantial risk of forfeiture. Where can i get 2012 federal tax forms This means that the recipient is not likely to have to give up his or her rights in the property in the future. Where can i get 2012 federal tax forms Reimbursements for Business Expenses You can generally deduct the amount you pay or reimburse employees for business expenses incurred for your business. Where can i get 2012 federal tax forms However, your deduction may be limited. Where can i get 2012 federal tax forms If you make the payment under an accountable plan, deduct it in the category of the expense paid. Where can i get 2012 federal tax forms For example, if you pay an employee for travel expenses incurred on your behalf, deduct this payment as a travel expense. Where can i get 2012 federal tax forms If you make the payment under a nonaccountable plan, deduct it as wages and include it in the employee's Form W-2. Where can i get 2012 federal tax forms See Reimbursement of Travel, Meals, and Entertainment in chapter 11 for more information about deducting reimbursements and an explanation of accountable and nonaccountable plans. Where can i get 2012 federal tax forms Sick and Vacation Pay Sick pay. Where can i get 2012 federal tax forms   You can deduct amounts you pay to your employees for sickness and injury, including lump-sum amounts, as wages. Where can i get 2012 federal tax forms However, your deduction is limited to amounts not compensated by insurance or other means. Where can i get 2012 federal tax forms Vacation pay. Where can i get 2012 federal tax forms   Vacation pay is an employee benefit. Where can i get 2012 federal tax forms It includes amounts paid for unused vacation leave. Where can i get 2012 federal tax forms You can deduct vacation pay only in the tax year in which the employee actually receives it. Where can i get 2012 federal tax forms This rule applies regardless of whether you use the cash or accrual method of accounting. Where can i get 2012 federal tax forms Prev  Up  Next   Home   More Online Publications
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LT 11 (Letter 1058) Frequently Asked Questions (FAQs)

What is the notice telling me?

This notice is telling you that we intend to issue a levy against your bank accounts, wages or other assets because you still have a balance due on one of your tax accounts. It is also telling you that we will begin searching for other assets on which to issue a levy and that we may also file a Federal Tax Lien, if we have not already done so.

What do I have to do?

Pay the amount due as shown on the notice. Mail us your payment in the envelope we sent you. Include the bottom part of the notice to make sure we correctly credit your account.

If you can't pay the whole amount now, call us at the number printed at the top of the notice to see if you qualify for an installment agreement.

How much time do I have?

You should contact us or pay your balance due immediately. Enforcement action may be taken to collect that balance due 30 days after the date of this letter.

What happens if I don't pay?

If you don't pay or make arrangements to pay, we have several options available that we may use to collect the money. One option is to issue a levy against your state tax refund, wages, other income sources, or bank accounts. Another option is for us to file a Notice of Federal Tax Lien. The lien gives us a legal claim to your property as security or payment for your tax debt.

Who should I contact?

If you have any questions about the notice or wish to resolve your outstanding balance, call us at the number printed at the top of the notice. The person who answers the phone will assist you.

What if I don't agree or have already taken corrective action?

If you do not agree with this notice, you have the right to an appeal.  Call us immediately at the number printed at the top of the notice. We will do our best to help you. If you called us about this matter before, but we did not correct the problem, you may want to contact the Office of the Taxpayer Advocate.

If you have already paid or arranged for an installment agreement, you should still call us at the number printed at the top of the notice to make sure your account reflects this.

Page Last Reviewed or Updated: 30-Jan-2014

The Where Can I Get 2012 Federal Tax Forms

Where can i get 2012 federal tax forms 16. Where can i get 2012 federal tax forms   Reporting Gains and Losses Table of Contents What's New Introduction Useful Items - You may want to see: Reporting Capital Gains and Losses Exception 1. Where can i get 2012 federal tax forms Exception 2. Where can i get 2012 federal tax forms File Form 1099-B or Form 1099-S with the IRS. Where can i get 2012 federal tax forms Capital Losses Capital Gain Tax Rates What's New Maximum capital gain rates. Where can i get 2012 federal tax forms . Where can i get 2012 federal tax forms  For 2013, the maximum capital gain rates are 0%, 15%, 20%, 25%, and 28%. Where can i get 2012 federal tax forms Introduction This chapter discusses how to report capital gains and losses from sales, exchanges, and other dispositions of investment property on Form 8949 and Schedule D (Form 1040). Where can i get 2012 federal tax forms The discussion includes the following topics. Where can i get 2012 federal tax forms How to report short-term gains and losses. Where can i get 2012 federal tax forms How to report long-term gains and losses. Where can i get 2012 federal tax forms How to figure capital loss carryovers. Where can i get 2012 federal tax forms How to figure your tax on a net capital gain. Where can i get 2012 federal tax forms If you sell or otherwise dispose of property used in a trade or business or for the production of income, see Publication 544, Sales and Other Dispositions of Assets, before completing Schedule D (Form 1040). Where can i get 2012 federal tax forms Useful Items - You may want to see: Publication 537 Installment Sales 544 Sales and Other Dispositions of Assets 550 Investment Income and Expenses Form (and Instructions) 4797 Sales of Business Property 6252 Installment Sale Income 8582 Passive Activity Loss Limitations 8949 Sales and Other Dispositions of Capital Assets Schedule D (Form 1040) Capital Gains and Losses Reporting Capital Gains and Losses Generally, report capital gains and losses on Form 8949. Where can i get 2012 federal tax forms Complete Form 8949 before you complete line 1b, 2, 3, 8b, 9, or 10 of Schedule D (Form 1040). Where can i get 2012 federal tax forms Use Form 8949 to report: The sale or exchange of a capital asset not reported on another form or schedule; Gains from involuntary conversions (other than from casualty or theft) of capital assets not held for business or profit; and Nonbusiness bad debts. Where can i get 2012 federal tax forms Use Schedule D (Form 1040): To figure the overall gain or loss from transactions reported on Form 8949; To report a gain from Form 6252 or Part I of Form 4797; To report a gain or loss from Form 4684, 6781, or 8824; To report capital gain distributions not reported directly on Form 1040 or Form 1040A; To report a capital loss carryover from the previous tax year to the current tax year; To report your share of a gain or (loss) from a partnership, S corporation, estate, or trust; To report transactions reported to you on a Form 1099-B (or substitute statement) showing basis was reported to the IRS and to which none of the Form 8949 adjustments or codes apply; and To report undistributed long-term capital gains from Form 2439. Where can i get 2012 federal tax forms On Form 8949, enter all sales and exchanges of capital assets, including stocks, bonds, etc. Where can i get 2012 federal tax forms , and real estate (if not reported on Form 4684, 4797, 6252, 6781, 8824, or line 1a or 8a of Schedule D). Where can i get 2012 federal tax forms Include these transactions even if you did not receive a Form 1099-B or 1099-S (or substitute statement) for the transaction. Where can i get 2012 federal tax forms Report short-term gains or losses in Part I. Where can i get 2012 federal tax forms Report long-term gains or losses in Part II. Where can i get 2012 federal tax forms Use as many Forms 8949 as you need. Where can i get 2012 federal tax forms Exceptions to filing Form 8949 and Schedule D (Form 1040). Where can i get 2012 federal tax forms   There are certain situations where you may not have to file Form 8949 and/or Schedule D (Form 1040). Where can i get 2012 federal tax forms Exception 1. Where can i get 2012 federal tax forms   You do not have to file Form 8949 or Schedule D (Form 1040) if you have no capital losses and your only capital gains are capital gain distributions from Form(s) 1099-DIV, box 2a (or substitute statements). Where can i get 2012 federal tax forms (If any Form(s) 1099-DIV (or substitute statements) you receive have an amount in box 2b (unrecaptured section 1250 gain), box 2c (section 1202 gain), or box 2d (collectibles (28%) gain), you do not qualify for this exception. Where can i get 2012 federal tax forms ) If you qualify for this exception, report your capital gain distributions directly on line 13 of Form 1040 (and check the box on line 13). Where can i get 2012 federal tax forms Also use the Qualified Dividends and Capital Gain Tax Worksheet in the Form 1040 instructions to figure your tax. Where can i get 2012 federal tax forms You can report your capital gain distributions on line 10 of Form 1040A, instead of on Form 1040, if none of the Forms 1099-DIV (or substitute statements) you received have an amount in box 2b, 2c, or 2d, and you do not have to file Form 1040. Where can i get 2012 federal tax forms Exception 2. Where can i get 2012 federal tax forms   You must file Schedule D (Form 1040), but generally do not have to file Form 8949, if Exception 1 does not apply and your only capital gains and losses are: Capital gain distributions; A capital loss carryover; A gain from Form 2439 or 6252 or Part I of Form 4797; A gain or loss from Form 4684, 6781, or 8824; A gain or loss from a partnership, S corporation, estate, or trust; or Gains and losses from transactions for which you received a Form 1099-B (or substitute statement) that shows the basis was reported to the IRS and for which you do not need to make any adjustments in column (g) of Form 8949 or enter any codes in column (f) of Form 8949. Where can i get 2012 federal tax forms Installment sales. Where can i get 2012 federal tax forms   You cannot use the installment method to report a gain from the sale of stock or securities traded on an established securities market. Where can i get 2012 federal tax forms You must report the entire gain in the year of sale (the year in which the trade date occurs). Where can i get 2012 federal tax forms Passive activity gains and losses. Where can i get 2012 federal tax forms    If you have gains or losses from a passive activity, you may also have to report them on Form 8582. Where can i get 2012 federal tax forms In some cases, the loss may be limited under the passive activity rules. Where can i get 2012 federal tax forms Refer to Form 8582 and its instructions for more information about reporting capital gains and losses from a passive activity. Where can i get 2012 federal tax forms Form 1099-B transactions. Where can i get 2012 federal tax forms   If you sold property, such as stocks, bonds, or certain commodities, through a broker, you should receive Form 1099-B or substitute statement from the broker. Where can i get 2012 federal tax forms Use the Form 1099-B or the substitute statement to complete Form 8949. Where can i get 2012 federal tax forms If you sold a covered security in 2013, your broker should send you a Form 1099-B (or substitute statement) that shows your basis. Where can i get 2012 federal tax forms This will help you complete Form 8949. Where can i get 2012 federal tax forms Generally, a covered security is a security you acquired after 2010. Where can i get 2012 federal tax forms   Report the gross proceeds shown in box 2a of Form 1099-B as the sales price in column (d) of either Part I or Part II of Form 8949, whichever applies. Where can i get 2012 federal tax forms However, if the broker advises you, in box 2a of Form 1099-B, that gross proceeds (sales price) less commissions and option premiums were reported to the IRS, enter that net sales price in column (d) of either Part I or Part II of Form 8949, whichever applies. Where can i get 2012 federal tax forms    Include in column (g) any expense of sale, such as broker's fees, commissions, state and local transfer taxes, and option premiums, unless you reported the net sales price in column (d). Where can i get 2012 federal tax forms If you include an expense of sale in column (g), enter “E” in column (f). Where can i get 2012 federal tax forms Form 1099-CAP transactions. Where can i get 2012 federal tax forms   If a corporation in which you own stock has had a change in control or a substantial change in capital structure, you should receive Form 1099-CAP or a substitute statement from the corporation. Where can i get 2012 federal tax forms Use the Form 1099-CAP or substitute statement to fill in Form 8949. Where can i get 2012 federal tax forms If your computations show that you would have a loss because of the change, do not enter any amounts on Form 8949 or Schedule D (Form 1040). Where can i get 2012 federal tax forms You cannot claim a loss on Schedule D (Form 1040) as a result of this transaction. Where can i get 2012 federal tax forms   Report the aggregate amount received shown in box 2 of Form 1099-CAP as the sales price in column (d) of either Part I or Part II of Form 8949, whichever applies. Where can i get 2012 federal tax forms Form 1099-S transactions. Where can i get 2012 federal tax forms   If you sold or traded reportable real estate, you generally should receive from the real estate reporting person a Form 1099-S showing the gross proceeds. Where can i get 2012 federal tax forms    “Reportable real estate” is defined as any present or future ownership interest in any of the following: Improved or unimproved land, including air space; Inherently permanent structures, including any residential, commercial, or industrial building; A condominium unit and its accessory fixtures and common elements, including land; and Stock in a cooperative housing corporation (as defined in section 216 of the Internal Revenue Code). Where can i get 2012 federal tax forms   A “real estate reporting person” could include the buyer's attorney, your attorney, the title or escrow company, a mortgage lender, your broker, the buyer's broker, or the person acquiring the biggest interest in the property. Where can i get 2012 federal tax forms   Your Form 1099-S will show the gross proceeds from the sale or exchange in box 2. Where can i get 2012 federal tax forms See the Instructions for Form 8949 and the Instructions for Schedule D (Form 1040) for how to report these transactions and include them in Part I or Part II of Form 8949 as appropriate. Where can i get 2012 federal tax forms However, report like-kind exchanges on Form 8824 instead. Where can i get 2012 federal tax forms   It is unlawful for any real estate reporting person to separately charge you for complying with the requirement to file Form 1099-S. Where can i get 2012 federal tax forms Nominees. Where can i get 2012 federal tax forms   If you receive gross proceeds as a nominee (that is, the gross proceeds are in your name but actually belong to someone else), see the Instructions for Form 8949 for how to report these amounts on Form 8949. Where can i get 2012 federal tax forms File Form 1099-B or Form 1099-S with the IRS. Where can i get 2012 federal tax forms   If you received gross proceeds as a nominee in 2013, you must file a Form 1099-B or Form 1099-S for those proceeds with the IRS. Where can i get 2012 federal tax forms Send the Form 1099-B or Form 1099-S with a Form 1096, Annual Summary and Transmittal of U. Where can i get 2012 federal tax forms S. Where can i get 2012 federal tax forms Information Returns, to your Internal Revenue Service Center by February 28, 2014 (March 31, 2014, if you file Form 1099-B or Form 1099-S electronically). Where can i get 2012 federal tax forms Give the actual owner of the proceeds Copy B of the Form 1099-B or Form 1099-S by February 18, 2014. Where can i get 2012 federal tax forms On Form 1099-B, you should be listed as the “Payer. Where can i get 2012 federal tax forms ” The other owner should be listed as the “Recipient. Where can i get 2012 federal tax forms ” On Form 1099-S, you should be listed as the “Filer. Where can i get 2012 federal tax forms ” The other owner should be listed as the “Transferor. Where can i get 2012 federal tax forms ” You do not have to file a Form 1099-B or Form 1099-S to show proceeds for your spouse. Where can i get 2012 federal tax forms For more information about the reporting requirements and the penalties for failure to file (or furnish) certain information returns, see the General Instructions for Certain Information Returns. Where can i get 2012 federal tax forms If you are filing electronically see Publication 1220. Where can i get 2012 federal tax forms Sale of property bought at various times. Where can i get 2012 federal tax forms   If you sell a block of stock or other property that you bought at various times, report the short-term gain or loss from the sale on one row in Part I of Form 8949, and the long-term gain or loss on one row in Part II of Form 8949. Where can i get 2012 federal tax forms Write “Various” in column (b) for the “Date acquired. Where can i get 2012 federal tax forms ” Sale expenses. Where can i get 2012 federal tax forms    On Form 8949, include in column (g) any expense of sale, such as broker's fees, commissions, state and local transfer taxes, and option premiums, unless you reported the net sales price in column (d). Where can i get 2012 federal tax forms If you include an expense of sale in column (g), enter “E” in column (f). Where can i get 2012 federal tax forms   For more information about adjustments to basis, see chapter 13. Where can i get 2012 federal tax forms Short-term gains and losses. Where can i get 2012 federal tax forms   Capital gain or loss on the sale or trade of investment property held 1 year or less is a short-term capital gain or loss. Where can i get 2012 federal tax forms You report it in Part I of Form 8949. Where can i get 2012 federal tax forms   You combine your share of short-term capital gain or loss from partnerships, S corporations, estates, and trusts, and any short-term capital loss carryover, with your other short-term capital gains and losses to figure your net short-term capital gain or loss on line 7 of Schedule D (Form 1040). Where can i get 2012 federal tax forms Long-term gains and losses. Where can i get 2012 federal tax forms    A capital gain or loss on the sale or trade of investment property held more than 1 year is a long-term capital gain or loss. Where can i get 2012 federal tax forms You report it in Part II of Form 8949. Where can i get 2012 federal tax forms   You report the following in Part II of Schedule D (Form 1040): Undistributed long-term capital gains from a mutual fund (or other regulated investment company) or real estate investment trust (REIT); Your share of long-term capital gains or losses from partnerships, S corporations, estates, and trusts; All capital gain distributions from mutual funds and REITs not reported directly on line 10 of Form 1040A or line 13 of Form 1040; and Long-term capital loss carryovers. Where can i get 2012 federal tax forms    The result after combining these items with your other long-term capital gains and losses is your net long-term capital gain or loss (Schedule D (Form 1040), line 15). Where can i get 2012 federal tax forms Total net gain or loss. Where can i get 2012 federal tax forms   To figure your total net gain or loss, combine your net short-term capital gain or loss (Schedule D (Form 1040), line 7) with your net long-term capital gain or loss (Schedule D (Form 1040), line 15). Where can i get 2012 federal tax forms Enter the result on Schedule D (Form 1040), Part III, line 16. Where can i get 2012 federal tax forms If your losses are more than your gains, see Capital Losses , next. Where can i get 2012 federal tax forms If both lines 15 and 16 of your Schedule D (Form 1040) are gains and your taxable income on your Form 1040 is more than zero, see Capital Gain Tax Rates , later. Where can i get 2012 federal tax forms Capital Losses If your capital losses are more than your capital gains, you can claim a capital loss deduction. Where can i get 2012 federal tax forms Report the amount of the deduction on line 13 of Form 1040, in parentheses. Where can i get 2012 federal tax forms Limit on deduction. Where can i get 2012 federal tax forms   Your allowable capital loss deduction, figured on Schedule D (Form 1040), is the lesser of: $3,000 ($1,500 if you are married and file a separate return); or Your total net loss as shown on line 16 of Schedule D (Form 1040). Where can i get 2012 federal tax forms   You can use your total net loss to reduce your income dollar for dollar, up to the $3,000 limit. Where can i get 2012 federal tax forms Capital loss carryover. Where can i get 2012 federal tax forms   If you have a total net loss on line 16 of Schedule D (Form 1040) that is more than the yearly limit on capital loss deductions, you can carry over the unused part to the next year and treat it as if you had incurred it in that next year. Where can i get 2012 federal tax forms If part of the loss is still unused, you can carry it over to later years until it is completely used up. Where can i get 2012 federal tax forms   When you figure the amount of any capital loss carryover to the next year, you must take the current year's allowable deduction into account, whether or not you claimed it and whether or not you filed a return for the current year. Where can i get 2012 federal tax forms   When you carry over a loss, it remains long term or short term. Where can i get 2012 federal tax forms A long-term capital loss you carry over to the next tax year will reduce that year's long-term capital gains before it reduces that year's short-term capital gains. Where can i get 2012 federal tax forms Figuring your carryover. Where can i get 2012 federal tax forms   The amount of your capital loss carryover is the amount of your total net loss that is more than the lesser of: Your allowable capital loss deduction for the year; or Your taxable income increased by your allowable capital loss deduction for the year and your deduction for personal exemptions. Where can i get 2012 federal tax forms   If your deductions are more than your gross income for the tax year, use your negative taxable income in computing the amount in item (2). Where can i get 2012 federal tax forms    Complete the Capital Loss Carryover Worksheet in the Instructions for Schedule D or Publication 550 to determine the part of your capital loss that you can carry over. Where can i get 2012 federal tax forms Example. Where can i get 2012 federal tax forms Bob and Gloria sold securities in 2013. Where can i get 2012 federal tax forms The sales resulted in a capital loss of $7,000. Where can i get 2012 federal tax forms They had no other capital transactions. Where can i get 2012 federal tax forms Their taxable income was $26,000. Where can i get 2012 federal tax forms On their joint 2013 return, they can deduct $3,000. Where can i get 2012 federal tax forms The unused part of the loss, $4,000 ($7,000 − $3,000), can be carried over to 2014. Where can i get 2012 federal tax forms If their capital loss had been $2,000, their capital loss deduction would have been $2,000. Where can i get 2012 federal tax forms They would have no carryover. Where can i get 2012 federal tax forms Use short-term losses first. Where can i get 2012 federal tax forms   When you figure your capital loss carryover, use your short-term capital losses first, even if you incurred them after a long-term capital loss. Where can i get 2012 federal tax forms If you have not reached the limit on the capital loss deduction after using the short-term capital losses, use the long-term capital losses until you reach the limit. Where can i get 2012 federal tax forms Decedent's capital loss. Where can i get 2012 federal tax forms    A capital loss sustained by a decedent during his or her last tax year (or carried over to that year from an earlier year) can be deducted only on the final income tax return filed for the decedent. Where can i get 2012 federal tax forms The capital loss limits discussed earlier still apply in this situation. Where can i get 2012 federal tax forms The decedent's estate cannot deduct any of the loss or carry it over to following years. Where can i get 2012 federal tax forms Joint and separate returns. Where can i get 2012 federal tax forms   If you and your spouse once filed separate returns and are now filing a joint return, combine your separate capital loss carryovers. Where can i get 2012 federal tax forms However, if you and your spouse once filed a joint return and are now filing separate returns, any capital loss carryover from the joint return can be deducted only on the return of the spouse who actually had the loss. Where can i get 2012 federal tax forms Capital Gain Tax Rates The tax rates that apply to a net capital gain are generally lower than the tax rates that apply to other income. Where can i get 2012 federal tax forms These lower rates are called the maximum capital gain rates. Where can i get 2012 federal tax forms The term “net capital gain” means the amount by which your net long-term capital gain for the year is more than your net short-term capital loss. Where can i get 2012 federal tax forms For 2013, the maximum capital gain rates are 0%, 15%, 20%, 25%, and 28%. Where can i get 2012 federal tax forms See Table 16-1 for details. Where can i get 2012 federal tax forms If you figure your tax using the maximum capital gain rate and the regular tax computation results in a lower tax, the regular tax computation applies. Where can i get 2012 federal tax forms Example. Where can i get 2012 federal tax forms All of your net capital gain is from selling collectibles, so the capital gain rate would be 28%. Where can i get 2012 federal tax forms If you are otherwise subject to a rate lower than 28%, the 28% rate does not apply. Where can i get 2012 federal tax forms Investment interest deducted. Where can i get 2012 federal tax forms   If you claim a deduction for investment interest, you may have to reduce the amount of your net capital gain that is eligible for the capital gain tax rates. Where can i get 2012 federal tax forms Reduce it by the amount of the net capital gain you choose to include in investment income when figuring the limit on your investment interest deduction. Where can i get 2012 federal tax forms This is done on the Schedule D Tax Worksheet or the Qualified Dividends and Capital Gain Tax Worksheet. Where can i get 2012 federal tax forms For more information about the limit on investment interest, see Interest Expenses in chapter 3 of Publication 550. Where can i get 2012 federal tax forms Table 16-1. Where can i get 2012 federal tax forms What Is Your Maximum Capital Gain Rate? IF your net capital gain is from . Where can i get 2012 federal tax forms . Where can i get 2012 federal tax forms . Where can i get 2012 federal tax forms THEN your  maximum capital gain rate is . Where can i get 2012 federal tax forms . Where can i get 2012 federal tax forms . Where can i get 2012 federal tax forms a collectibles gain 28% an eligible gain on qualified small business stock minus the section 1202 exclusion 28% an unrecaptured section 1250 gain 25% other gain1 and the regular tax rate that would apply is 39. Where can i get 2012 federal tax forms 6% 20% other gain1 and the regular tax rate that would apply is 25%, 28%, 33%, or 35% 15% other gain1 and the regular tax rate that would apply is 10% or 15% 0% 1 Other gain means any gain that is not collectibles gain, gain on qualified small business stock, or unrecaptured section 1250 gain. Where can i get 2012 federal tax forms     Collectibles gain or loss. Where can i get 2012 federal tax forms   This is gain or loss from the sale or trade of a work of art, rug, antique, metal (such as gold, silver, and platinum bullion), gem, stamp, coin, or alcoholic beverage held more than 1 year. Where can i get 2012 federal tax forms   Collectibles gain includes gain from sale of an interest in a partnership, S corporation, or trust due to unrealized appreciation of collectibles. Where can i get 2012 federal tax forms Gain on qualified small business stock. Where can i get 2012 federal tax forms    If you realized a gain from qualified small business stock that you held more than 5 years, you generally can exclude some or all of your gain under section 1202. Where can i get 2012 federal tax forms The eligible gain minus your section 1202 exclusion is a 28% rate gain. Where can i get 2012 federal tax forms See Gains on Qualified Small Business Stock in chapter 4 of Publication 550. Where can i get 2012 federal tax forms Unrecaptured section 1250 gain. Where can i get 2012 federal tax forms    Generally, this is any part of your capital gain from selling section 1250 property (real property) that is due to depreciation (but not more than your net section 1231 gain), reduced by any net loss in the 28% group. Where can i get 2012 federal tax forms Use the Unrecaptured Section 1250 Gain Worksheet in the Schedule D (Form 1040) instructions to figure your unrecaptured section 1250 gain. Where can i get 2012 federal tax forms For more information about section 1250 property and section 1231 gain, see chapter 3 of Publication 544. Where can i get 2012 federal tax forms Tax computation using maximum capital gain rates. Where can i get 2012 federal tax forms   Use the Qualified Dividends and Capital Gain Tax Worksheet or the Schedule D Tax Worksheet (whichever applies) to figure your tax if you have qualified dividends or net capital gain. Where can i get 2012 federal tax forms You have net capital gain if Schedule D (Form 1040), lines 15 and 16, are both gains. Where can i get 2012 federal tax forms Schedule D Tax Worksheet. Where can i get 2012 federal tax forms   Use the Schedule D Tax Worksheet in the Schedule D (Form 1040) instructions to figure your tax if: You have to file Schedule D (Form 1040); and Schedule D (Form 1040), line 18 (28% rate gain) or line 19 (unrecaptured section 1250 gain), is more than zero. Where can i get 2012 federal tax forms Qualified Dividends and Capital Gain Tax Worksheet. Where can i get 2012 federal tax forms   If you do not have to use the Schedule D Tax Worksheet (as explained above) and any of the following apply, use the Qualified Dividends and Capital Gain Tax Worksheet in the instructions for Form 1040 or Form 1040A (whichever you file) to figure your tax. Where can i get 2012 federal tax forms You received qualified dividends. Where can i get 2012 federal tax forms (See Qualified Dividends in chapter 8. Where can i get 2012 federal tax forms ) You do not have to file Schedule D (Form 1040) and you received capital gain distributions. Where can i get 2012 federal tax forms (See Exceptions to filing Form 8949 and Schedule D (Form 1040) , earlier. Where can i get 2012 federal tax forms ) Schedule D (Form 1040), lines 15 and 16, are both more than zero. Where can i get 2012 federal tax forms Alternative minimum tax. Where can i get 2012 federal tax forms   These capital gain rates are also used in figuring alternative minimum tax. Where can i get 2012 federal tax forms Prev  Up  Next   Home   More Online Publications