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Amend A 2013 Tax Return

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Amend A 2013 Tax Return

Amend a 2013 tax return 28. Amend a 2013 tax return   Deducciones Misceláneas Table of Contents Qué Hay de Nuevo Introduction Useful Items - You may want to see: Deducciones Sujetas al Límite del 2%Gastos del Empleado no Reembolsados (Línea 21) Costos de la Preparación de la Declaración de Impuestos (Línea 22) Otros Gastos (Línea 23) Deducciones no Sujetas al Límite del 2%Lista de Deducciones Gastos no DeduciblesLista de Gastos no Deducibles Qué Hay de Nuevo Tarifa estándar por milla. Amend a 2013 tax return  La tarifa para uso comercial de un vehículo en 2013 es 56½ centavos por milla. Amend a 2013 tax return Introduction Este capítulo explica qué gastos pueden declararse como deducciones detalladas misceláneas en el Anexo A (Formulario 1040). Amend a 2013 tax return Usted tendrá que reducir por el 2% de su ingreso bruto ajustado el total de la mayoría de las deducciones misceláneas detalladas. Amend a 2013 tax return Este capítulo trata los siguientes temas: Deducciones sujetas al límite del 2%. Amend a 2013 tax return Deducciones no sujetas al límite del 2%. Amend a 2013 tax return Gastos que no se pueden deducir. Amend a 2013 tax return Tiene que guardar documentación para verificar sus deducciones. Amend a 2013 tax return Debe guardar sus recibos, cheques cancelados, cheques sustitutivos, estados de cuentas financieras y otros documentos comprobantes. Amend a 2013 tax return Si desea obtener más información sobre el mantenimiento de documentación, obtenga la Publicación 552, Recordkeeping for Individuals (Mantenimiento de documentación para personas físicas), en inglés. Amend a 2013 tax return Useful Items - You may want to see: Publicación 463 Travel, Entertainment, Gift, and Car Expenses (Gastos de viaje, entretenimiento, regalos y automóvil), en inglés 525 Taxable and Nontaxable Income (El ingreso tributable y no tributable), en inglés 529 Miscellaneous Deductions (Deducciones misceláneas), en inglés 535 Business Expenses (Gastos de negocios), en inglés 587 Business Use of Your Home (Including Use by Daycare Providers) (Uso de su domicilio para propósitos comerciales (incluyendo el uso por proveedores de cuidado infantil)), en inglés 946 How To Depreciate Property (Cómo depreciar la propiedad), en inglés Formulario (e Instrucciones) Anexo A (Formulario 1040) Itemized Deductions (Deducciones detalladas), en inglés 2106 Employee Business Expenses (Gastos de negocio del empleado), en inglés 2106-EZ Unreimbursed Employee Business Expenses (Gastos de negocio del empleado no reembolsados), en inglés Deducciones Sujetas al Límite del 2% Usted puede deducir ciertos gastos como deducciones detalladas misceláneas en el Anexo A (Formulario 1040). Amend a 2013 tax return Puede deducir la parte de sus gastos que supere al 2% de su ingreso bruto ajustado. Amend a 2013 tax return Se calcula la deducción en el Anexo A; restando el 2% de sus ingresos brutos ajustados del total de estos gastos. Amend a 2013 tax return Su ingreso bruto ajustado es la cifra escrita en la línea 38 del Formulario 1040. Amend a 2013 tax return Por lo general, se aplica el límite del 2% después de aplicar los demás límites de deducciones. Amend a 2013 tax return Por ejemplo, el límite del 50% (o del 80%) sobre comidas y entretenimiento relacionados con los negocios (explicado en el capítulo 26) se aplica antes de aplicar el límite del 2%. Amend a 2013 tax return Las deducciones sujetas al límite del 2% se explican aquí de acuerdo con las tres categorías en las cuales los declara en el Anexo A (Formulario 1040): Gastos del empleado no reembolsados (línea 21). Amend a 2013 tax return Costos de la preparación de la declaración de impuestos (línea 22). Amend a 2013 tax return Otros gastos (línea 23). Amend a 2013 tax return Gastos del Empleado no Reembolsados (Línea 21) Generalmente, uno puede deducir en la línea 21 del Anexo A (Formulario 1040) los gastos del empleado no reembolsados que: Pague o en los que incurra durante el año tributario, Sean necesarios para llevar a cabo su oficio o negocio como empleado y Sean ordinarios y necesarios. Amend a 2013 tax return Un gasto es “ordinario” si es común y aceptado en su oficio, negocio o profesión. Amend a 2013 tax return Un gasto es necesario si es adecuado y útil para su negocio. Amend a 2013 tax return Un gasto no tiene que ser obligatorio para considerarse necesario. Amend a 2013 tax return A continuación se indican algunos ejemplos de gastos del empleado no reembolsados. Amend a 2013 tax return Después de la lista encontrará otros ejemplos de gastos del empleado no reembolsados. Amend a 2013 tax return Deudas incobrables incurridas por un empleado en la ejecución de su trabajo. Amend a 2013 tax return Educación relacionada con el trabajo. Amend a 2013 tax return (Vea el capítulo 27). Amend a 2013 tax return Honorarios legales relacionados con su trabajo. Amend a 2013 tax return Licencias y tarifas reglamentarias. Amend a 2013 tax return Primas de seguro contra negligencia profesional. Amend a 2013 tax return Exámenes médicos requeridos por un empleador. Amend a 2013 tax return Impuestos sobre una profesión u ocupación. Amend a 2013 tax return Pasaporte para un viaje de negocios. Amend a 2013 tax return Suscripciones a revistas profesionales y de industria relacionadas con su trabajo. Amend a 2013 tax return Viajes, transporte, entretenimiento y regalos relacionados con su trabajo. Amend a 2013 tax return (Vea el capítulo 26). Amend a 2013 tax return Seguro de Responsabilidad Comercial Puede deducir las primas de seguro que pagó para protegerse contra responsabilidad personal por actos ilícitos en el trabajo. Amend a 2013 tax return Daños por Incumplimiento de Contrato de Empleo Si deja de cumplir con un contrato de empleo, puede deducir los daños que pague a su antiguo empleador que sean atribuibles a la paga que había recibido de ese empleador. Amend a 2013 tax return Depreciación de Computadoras Puede declarar una deducción por depreciación de una computadora que usted usa en el trabajo como empleado si su uso: Es para conveniencia de su empleador y Se requiere como una condición de su empleo. Amend a 2013 tax return Para obtener información acerca de las reglas y excepciones a las reglas que afectan las deducciones permitidas por una computadora en su casa, vea la Publicación 529, en inglés. Amend a 2013 tax return Cuotas a Cámaras de Comercio y Asociaciones Profesionales Es posible que pueda deducir cuotas pagadas a organizaciones profesionales (como asociaciones de abogados y asociaciones médicas) y a cámaras de comercio y organizaciones parecidas, si la afiliación le ayuda a realizar los deberes de su trabajo. Amend a 2013 tax return Estas organizaciones incluyen: Juntas comerciales, Asociaciones comerciales, Organizaciones cívicas o de servicios públicos, Juntas de bienes raíces y Asociaciones profesionales. Amend a 2013 tax return Actividades políticas y de cabildeo. Amend a 2013 tax return   Quizás no pueda deducir la parte de sus cuotas destinada a ciertas actividades políticas y de cabildeo. Amend a 2013 tax return Vea Cuotas usadas para cabildeo bajo Gastos no Deducibles, más adelante. Amend a 2013 tax return Gastos del Educador Si en el año 2013 usted era un educador que reunía los requisitos, usted puede deducir hasta $250 de gastos calificados que usted pagó en el año 2013 como ajuste a los ingresos brutos, en la línea 23 del Formulario 1040, en vez de una deducción detallada miscelánea. Amend a 2013 tax return Si presenta el Formluario 1040A, usted podría deducir estos gastos en la línea 16. Amend a 2013 tax return Si usted y su cónyuge están presentando una declaración conjunta y ambos fueron educadores calificados, la deducción máxima es $500. Amend a 2013 tax return No obstante, ninguno puede deducir más de $250 como gastos calificados. Amend a 2013 tax return Oficina en el Domicilio Si de manera habitual, usted usa una parte de su domicilio exclusivamente para propósitos comerciales, tal vez pueda deducir una parte de los gastos de operación y depreciación de su domicilio. Amend a 2013 tax return Puede reclamar esta deducción por el uso comercial de una parte de su domicilio sólo si utiliza esa parte habitual y exclusivamente: Como el lugar principal de negocios para algún oficio o negocio, Como lugar para reunirse o recibir a sus pacientes o clientes en el transcurso normal de su oficio o negocio o En el caso de un edificio separado no conectado a su domicilio, si lo usa para fines de su oficio o negocio. Amend a 2013 tax return Dicho uso comercial, habitual y exclusivo tiene que ser para conveniencia de su empleador y no sólo adecuado y útil para su propio trabajo. Amend a 2013 tax return Vea la Publicación 587, en inglés, para obtener información más detallada y una hoja de trabajo. Amend a 2013 tax return Gastos Relacionados con la Búsqueda de Empleo Puede deducir determinados gastos que tenga al buscar un nuevo trabajo en su profesión actual, incluso si no lo consigue. Amend a 2013 tax return Pero no puede deducir estos gastos si: Busca trabajo en una nueva profesión, Hubo una pausa considerable entre el término de su último trabajo y la búsqueda de un trabajo nuevo o Busca trabajo por primera vez. Amend a 2013 tax return Cuotas de agencias de colocación y empleo. Amend a 2013 tax return   Puede deducir cuotas que pague a agencias de colocación y empleo que usa como parte de su búsqueda de trabajo en su profesión actual. Amend a 2013 tax return Si el empleador le devuelve dinero. Amend a 2013 tax return   Si, en un año posterior, su empleador le devuelve el dinero de las cuotas de agencias de empleo, usted tiene que incluir la cantidad que reciba en sus ingresos brutos hasta que llegue al total del beneficio tributario que recibió en el año anterior. Amend a 2013 tax return (Vea Recuperaciones de Fondos en el capítulo 12). Amend a 2013 tax return Si el empleador le paga a la agencia de empleo. Amend a 2013 tax return   Si su empleador paga las cuotas directamente a la agencia de empleo y usted no es responsable de pagarlas, no puede incluirlas en sus ingresos brutos. Amend a 2013 tax return Currículum vitae. Amend a 2013 tax return   Puede deducir lo que gaste para preparar o enviar por correo copias de un currículum vitae a posibles empleadores siempre que busca un trabajo nuevo en su profesión actual. Amend a 2013 tax return Gastos de viaje y transporte. Amend a 2013 tax return   Si viaja a algún lugar y durante su estadía busca un trabajo nuevo en su profesión actual, tal vez pueda deducir los gastos de viaje de ida y vuelta al lugar. Amend a 2013 tax return Puede deducir los gastos de viaje si el viaje se realizó principalmente para buscar un trabajo nuevo. Amend a 2013 tax return Es importante saber qué parte del tiempo dedique a actividades personales y qué parte del tiempo dedique a buscar trabajo para determinar si el viaje se hizo principalmente por motivos personales o para buscar un trabajo nuevo. Amend a 2013 tax return   Incluso si no puede deducir los gastos de viaje de ida y vuelta al lugar, puede deducir los gastos de buscar trabajo nuevo en su profesión actual que incurra mientras se encuentra en dicho lugar. Amend a 2013 tax return   Puede optar por utilizar la tarifa estándar por milla para calcular los gastos de automóvil. Amend a 2013 tax return La tarifa correspondiente al año 2013 para uso comercial de un vehículo es 56½ centavos por milla. Amend a 2013 tax return Vea el capítulo 26 para más información. Amend a 2013 tax return Licencias y Tarifas Reglamentarias Puede deducir la cantidad que pague cada año a gobiernos estatales o locales por licencias y tarifas reglamentarias para su oficio, negocio o profesión. Amend a 2013 tax return Impuestos Incidentales al Trabajo Puede deducir un impuesto incidental al trabajo que una localidad le cobre a una tarifa fija por el privilegio de trabajar o realizar un negocio dentro de dicha localidad. Amend a 2013 tax return Si usted es empleado, puede reclamar impuestos incidentales al trabajo sólo como deducción miscelánea sujeta al límite del 2%; no puede reclamarlos como una deducción en otro lugar de su declaración. Amend a 2013 tax return Reintegro de un Pago de Asistencia Un “pago de asistencia” es aquel pago que se recibe de acuerdo con un plan del empleador para ayudar a los empleados que pierden su empleo debido a la falta de trabajo. Amend a 2013 tax return Si usted reintegra un pago de asistencia de suma global que recibió y había incluido en sus ingresos en un año anterior, puede deducir dicho reintegro. Amend a 2013 tax return Gastos de Investigación de un Profesor Universitario Si es profesor universitario, puede deducir los gastos de investigación, incluidos gastos de viaje y gastos en los que incurra por enseñar, dar conferencias o escribir y publicar temas relacionados directamente con su labor de enseñanza. Amend a 2013 tax return Tiene que haber comenzado la investigación como parte de los deberes de enseñanza que se esperan de un profesor y sin expectativas lucrativas además del sueldo. Amend a 2013 tax return No obstante, no puede deducir los costos de viajes como una forma de educación. Amend a 2013 tax return Herramientas Utilizadas en su Trabajo Por lo general, puede deducir los gastos por herramientas que usa en su trabajo si éstas se desgastan y se deshace de ellas dentro de 1 año después de la fecha de compra. Amend a 2013 tax return Puede depreciar el costo de las herramientas cuya vida sea mayor del año tributario. Amend a 2013 tax return Para obtener más información acerca de la depreciación, vea la Publicación 946, en inglés. Amend a 2013 tax return Cuotas y Gastos de Afiliación a un Sindicato Puede deducir cuotas y tarifas iniciales que pague para afiliarse a un sindicato. Amend a 2013 tax return También puede deducir contribuciones destinadas a los beneficios para miembros del sindicato desempleados. Amend a 2013 tax return No obstante, no puede deducir la parte de las contribuciones o aportaciones destinadas a los fondos para el pago de beneficios por enfermedad, accidente o fallecimiento. Amend a 2013 tax return Asimismo, no puede deducir aportaciones a un fondo de pensiones, incluso si el sindicato le exige que realice las aportaciones. Amend a 2013 tax return Tal vez no pueda deducir las cantidades que pague al sindicato si éstas están relacionadas con determinadas actividades políticas o de cabildeo. Amend a 2013 tax return Vea Gastos de Cabildeo bajo Gastos no Deducibles, más adelante. Amend a 2013 tax return Ropa de Trabajo y Uniformes Puede deducir el costo y mantenimiento de la ropa de trabajo si se cumplen los dos requisitos siguientes: Está obligado a usarlas como condición de empleo. Amend a 2013 tax return La ropa no es adecuada para uso cotidiano. Amend a 2013 tax return No es suficiente usar ropa distintiva. Amend a 2013 tax return Su empleador tiene que requerir específicamente esa ropa. Amend a 2013 tax return Tampoco es suficiente que, de hecho, no use su ropa de trabajo en otro lugar. Amend a 2013 tax return La ropa no puede servir para reemplazar su ropa habitual. Amend a 2013 tax return Algunos ejemplos de trabajadores que tal vez puedan deducir el costo y mantenimiento de la ropa de trabajo son: personas que realicen entregas, bomberos, proveedores de servicios de la salud, agentes encargados de mantener el orden público, carteros, atletas profesionales y trabajadores del transporte (aéreo, ferroviario, terrestre, etc. Amend a 2013 tax return ). Amend a 2013 tax return Los músicos y artistas pueden deducir el costo de la ropa y los accesorios de teatro si no son adecuados para su uso cotidiano. Amend a 2013 tax return Sin embargo, la ropa de trabajo que conste de un gorro blanco, camisa blanca o chaqueta blanca, overol (de pintor) blanco y zapatos de trabajo estándar, como la que debe usar un pintor en su trabajo por exigencia de su sindicato, no es distintiva en cuanto a carácter ni a la naturaleza del uniforme. Amend a 2013 tax return Igualmente, los costos de compra y mantenimiento de ropa de trabajo azul usada por un soldador a solicitud de un capataz no son deducibles. Amend a 2013 tax return Ropa de protección. Amend a 2013 tax return   Puede deducir el costo de la ropa de protección obligatoria en su trabajo, como zapatos o botas de seguridad, anteojos de seguridad, cascos y guantes de trabajo. Amend a 2013 tax return   Algunos ejemplos de trabajadores a los que quizás se les exija usar artículos de seguridad son: carpinteros, trabajadores del cemento, trabajadores de productos químicos, electricistas, tripulación de barcos de pesca, maquinistas, trabajadores de campos petrolíferos, fontaneros, técnicos en tuberías y conductores de camiones. Amend a 2013 tax return Uniformes militares. Amend a 2013 tax return   Generalmente, no puede deducir el costo de uniformes si está en servicio activo a tiempo completo en las Fuerzas Armadas. Amend a 2013 tax return Sin embargo, si es miembro en reserva de las Fuerzas Armadas, puede deducir el costo no reembolsado de su uniforme si los reglamentos militares exigen que su uso se limite a cuando esté en servicio como miembro en reserva. Amend a 2013 tax return Al calcular la deducción, tiene que deducir del costo la asignación no gravable que reciba por estos gastos. Amend a 2013 tax return   Si las reglas militares locales no le permiten que use uniformes de faena cuando no esté de servicio, puede deducir la cantidad por la cual el costo de compra y mantenimiento de estos uniformes sea superior a la asignación por uniforme que reciba. Amend a 2013 tax return   Puede deducir el costo de sus uniformes si es miembro del personal o profesorado civil de una escuela militar. Amend a 2013 tax return Costos de la Preparación de la Declaración de Impuestos (Línea 22) Generalmente, puede deducir los costos de la preparación de la declaración de impuestos en el año en el que los paga. Amend a 2013 tax return De este modo, en la declaración de impuestos de 2013, puede deducir los costos pagados en el año 2013 por la preparación de la declaración del año 2012. Amend a 2013 tax return Estos costos incluyen el costo de los programas de software de preparación de impuestos y publicaciones tributarias. Amend a 2013 tax return También incluyen todo costo que haya pagado por la presentación electrónica de su declaración. Amend a 2013 tax return Otros Gastos (Línea 23) Puede deducir otros gastos determinados como deducciones detalladas misceláneas sujetas al límite del 2%. Amend a 2013 tax return En la línea 23 del Anexo A (Formulario 1040), puede deducir gastos que paga para: Generar o cobrar ingresos que se tienen que incluir en sus ingresos brutos, Administrar, conservar o mantener en buen estado propiedad cuya finalidad es generar un ingreso de estas características o Determinar, impugnar, pagar o solicitar un reembolso de algún impuesto. Amend a 2013 tax return Puede deducir gastos que pague para los fines indicados en las secciones (1) y (2) anteriores sólo si están razonable y estrechamente relacionados con estos fines. Amend a 2013 tax return Algunos de estos gastos se explican más adelante. Amend a 2013 tax return Si los gastos que pague generan ingresos que sólo sean parcialmente tributables, vea Gastos de Ingresos Exentos de Impuestos más adelante, bajo Gastos no Deducibles. Amend a 2013 tax return Cargos de Tasación Puede deducir cargos de tasación si los paga para calcular una pérdida por hecho fortuito o el valor justo de mercado de una propiedad donada. Amend a 2013 tax return Pérdidas por Hecho Fortuito y Robo Puede deducir una pérdida por hecho fortuito o robo como una deducción detallada miscelánea sujeta al límite del 2% si utilizaba la propiedad dañada o robada para realizar servicios como empleado. Amend a 2013 tax return Primero declare la pérdida en la Sección B del Formulario 4684, Casualties and Thefts (Hechos fortuitos y robos), en inglés. Amend a 2013 tax return Es posible que también tenga que incluir la pérdida en el Formulario 4797, Sales of Business Property (Ventas de propiedades de negocios), también en inglés, si es que está obligado por otras razones a presentar ese formulario. Amend a 2013 tax return Para calcular su deducción, sume todas las pérdidas por hecho fortuito o robo de este tipo de propiedad que se incluyan en las líneas 32 y 38b del Formulario 4684, o la línea 18a del Formulario 4797, ambos en inglés. Amend a 2013 tax return Para información sobre otras pérdidas por hecho fortuito o robo, vea el capítulo 25. Amend a 2013 tax return Apoyo Administrativo y Alquiler de Oficina Puede deducir gastos de oficina, (por ejemplo apoyo administrativo y alquiler), que usted incurre con respecto a sus inversiones y al cobro de los ingresos tributables generados por las mismas. Amend a 2013 tax return Cargos de Tramitación por el Uso de una Tarjeta de Crédito o Débito Puede deducir el cargo administrativo que le cobra el tramitador de la tarjeta de crédito por efectuar un pago del impuesto sobre los ingresos (inclusive pagos del impuesto estimado) con tarjeta de crédito o débito. Amend a 2013 tax return Dichos cargos son deducibles en el año en que se paguen. Amend a 2013 tax return Depreciación de Computadora de Uso Doméstico Puede deducir la depreciación de su computadora de uso doméstico si la utiliza para generar ingresos (por ejemplo, para administrar sus inversiones que generen ingresos tributables). Amend a 2013 tax return Por lo general, tiene que depreciar la computadora según el método uniforme durante el período de recuperación del Sistema Alternativo de Depreciación (ADS, por sus siglas en inglés). Amend a 2013 tax return Si trabaja como empleado y también utiliza la computadora en ese trabajo, vea la Publicación 946, en inglés. Amend a 2013 tax return Deducciones que le Sobran de un Caudal Hereditario Si las deducciones totales de un caudal hereditario en su año tributario anterior son superiores a su ingreso bruto de ese año, los beneficiarios que heredan la propiedad pueden deducir la cantidad que le sobró en exceso. Amend a 2013 tax return No incluya las deducciones por la exención personal del caudal hereditario y las donaciones con fines benéficos al calcular las deducciones totales del caudal hereditario. Amend a 2013 tax return Los beneficiarios pueden reclamar la deducción sólo para el año tributario en el que, o con el que, termina el caudal hereditario, sea el año final un año normal o un año tributario corto. Amend a 2013 tax return Para obtener más información, vea Termination of Estate (Terminación de un caudal hereditario) en la Publicación 559, Survivors, Executors, and Administrators (Sobrevivientes, albaceas y administradores), en inglés. Amend a 2013 tax return Cargos del Cobro de Intereses y Dividendos Puede deducir cargos que paga a un agente de bolsa, banco, fideicomisario o agente parecido por el cobro de los intereses de los bonos o dividendos de acciones tributables. Amend a 2013 tax return Sin embargo, no puede deducir un cargo que pague a un agente de bolsa para comprar bienes de inversión, como acciones o bonos. Amend a 2013 tax return Tiene que agregar el cargo al costo de los bienes. Amend a 2013 tax return No puede deducir el cargo que pague a un agente de bolsa para vender valores. Amend a 2013 tax return Puede usar el cargo sólo para calcular las pérdidas o ganancias de la venta. Amend a 2013 tax return Vea las Instrucciones del Formulario 8949, para obtener información sobre cómo declarar el cargo. Amend a 2013 tax return Gastos Relacionados con un Pasatiempo Por lo general, puede deducir gastos relacionados con un pasatiempo, pero sólo hasta la cantidad del ingreso generado por el mismo. Amend a 2013 tax return Un pasatiempo no es un negocio porque no se realiza para obtener un beneficio económico. Amend a 2013 tax return Consulte Actividad sin fines de lucro en el capítulo 12 bajo Otros Ingresos. Amend a 2013 tax return Deducciones Indirectas de Entidades que Traspasan los Atributos Tributarios Las entidades que traspasan los atributos tributarios incluyen sociedades colectivas, sociedades anónimas de tipo S y fondos mutuos que no se ofrecen al público. Amend a 2013 tax return Las deducciones de dichas entidades se traspasan a los socios o accionistas. Amend a 2013 tax return Los socios o accionistas pueden deducir su parte de las deducciones traspasadas para gastos de inversión como deducciones detalladas misceláneas sujetas al límite del 2%. Amend a 2013 tax return Ejemplo. Amend a 2013 tax return Usted es miembro de un club de inversiones formado exclusivamente para invertir en valores. Amend a 2013 tax return El club se considera una sociedad colectiva. Amend a 2013 tax return Los ingresos de la sociedad colectiva provienen exclusivamente de dividendos, intereses y ganancias tributables procedentes de la venta de valores. Amend a 2013 tax return En este caso, usted puede deducir su parte de los gastos de operación de la sociedad colectiva como deducciones detalladas misceláneas sujetas al límite del 2%. Amend a 2013 tax return No obstante, si el club de inversiones tiene inversiones que generan ingresos no tributables también, no puede deducir su parte de los gastos que generan ingresos no tributables. Amend a 2013 tax return Fondos mutuos de oferta pública. Amend a 2013 tax return   Los fondos mutuos de oferta pública no traspasan deducciones por gastos de inversión a los accionistas. Amend a 2013 tax return Un fondo mutuo es “de oferta pública” si: Se comercializa continuamente en virtud de una oferta pública, Se cotiza habitualmente en un mercado bursátil de valores establecido o Están bajo la propiedad de al menos 500 personas en todo momento durante el año tributario. Amend a 2013 tax return   El fondo mutuo de oferta pública le enviará un Formulario 1099-DIV, Dividends and Distributions (Dividendos y distribuciones), en inglés, o un formulario sustitutivo, que indique la cantidad neta del ingreso de dividendos (dividendos brutos menos gastos de inversión). Amend a 2013 tax return Esta cifra neta es la cantidad que declara como ingresos. Amend a 2013 tax return Usted no puede también deducir los gastos de inversión incurridos por fondos mutuos de oferta pública porque ya se incluyen como parte de la cantidad neta del ingreso de dividendos. Amend a 2013 tax return Declaraciones informativas. Amend a 2013 tax return   Las entidades que traspasan los atributos tributarios deben enviarle declaraciones informativas. Amend a 2013 tax return Sociedades colectivas y de tipo S. Amend a 2013 tax return   Estas entidades generan el Anexo K-1, el cual indica los conceptos y las cantidades que tiene que declarar y también identifica los anexos y las líneas de la declaración de impuestos que se deben usar. Amend a 2013 tax return Fondos mutuos que no son de oferta pública. Amend a 2013 tax return   Estos fondos le enviarán un Formulario 1099-DIV, Dividends and Distributions (Dividendos y distribuciones), o un formulario sustitutivo, el cual indicará su parte de los ingresos brutos y los gastos de inversión. Amend a 2013 tax return Puede declarar los gastos sólo como una deducción detallada miscelánea sujeta al límite del 2%. Amend a 2013 tax return Cargos y Gastos Relacionados con la Inversión Puede deducir cargos relacionados con la inversión, custodia, administración de fideicomiso y otros gastos que pague por la administración de inversiones que generen ingresos tributables. Amend a 2013 tax return Gastos Legales Por lo general, puede deducir gastos legales en los que incurra al intentar generar o cobrar ingresos tributables o que pague en conexión con la determinación, cobro o reembolso de un impuesto. Amend a 2013 tax return También puede deducir gastos legales que: Estén relacionados con la realización o conservación de su trabajo, como los que pague para defenderse contra acusaciones penales que se levanten por las acciones de su oficio o negocio, Sean para asesoría tributaria relacionada con un divorcio, si la factura indica cuánto corresponde a la asesoría tributaria y se determina de una forma razonable o Sean para cobrar una pensión tributable para el cónyuge divorciado. Amend a 2013 tax return Puede deducir los gastos que incurrió para resolver problemas tributarios relacionados con las pérdidas o ganancias de un negocio (Anexo C o C-EZ), alquileres o regalías (Anexo E) o gastos e ingresos agrícolas (Anexo F) en el anexo apropiado, todos en inglés. Amend a 2013 tax return Debe deducir los gastos que incurrió para resolver problemas tributarios no comerciales en el Anexo A (Formulario 1040). Amend a 2013 tax return Vea Costos de la Preparación de la Declaración de Impuestos , anteriormente. Amend a 2013 tax return Pérdidas de Depósitos Para obtener información acerca de si puede deducir la pérdida de un depósito que usted hizo en una institución financiera que reúna los requisitos y cómo declarar la deducción si tiene derecho a ella, vea Pérdidas de Depósitos en el capítulo 25. Amend a 2013 tax return Reintegros de Ingresos Si tuvo que reintegrar una cantidad que incluyó como ingresos en un año anterior, es posible que pueda deducir dicha cantidad reintegrada. Amend a 2013 tax return Si la cantidad que tuvo que reintegrar era ingreso ordinario de $3,000 o menos, la deducción está sujeta al límite del 2%. Amend a 2013 tax return Si fue más de $3,000, vea Reintegros por la Reclamación de un Derecho bajo Deducciones no Sujetas al Límite del 2%, más adelante. Amend a 2013 tax return Reintegros de Beneficios del Seguro Social Para obtener información acerca de cómo deducir los reintegros de ciertos beneficios del Seguro Social, vea Reintegros Superiores a los Beneficios Brutos en el capítulo 11. Amend a 2013 tax return Alquiler de Caja de Seguridad Puede deducir el alquiler de una caja de seguridad si la utiliza para almacenar bonos y acciones que generen ingresos tributables o documentos y papeles relacionados con inversiones. Amend a 2013 tax return No puede deducir el alquiler si sólo utiliza la caja para guardar joyas, otras pertenencias personales o valores exentos de impuestos. Amend a 2013 tax return Cargos Administrativos de los Planes de Reinversión de Dividendos Puede deducir los cargos administrativos que pague como abonado a un plan de reinversión de dividendos. Amend a 2013 tax return Estos cargos administrativos incluyen pagos por: Poseer acciones adquiridas mediante un plan, Cobrar y reinvertir dividendos en efectivo, y Mantener documentación personal y proporcionar estados de cuenta detallados. Amend a 2013 tax return Honorarios por Administración de un Fideicomiso de Arreglos IRA Los honorarios de administración de un fideicomiso que se facturen por separado y que usted pague en relación con un arreglo de ahorros para la jubilación (IRA, por sus siglas en inglés) son deducibles (si son ordinarios y necesarios) como deducción detallada miscelánea sujeta al límite del 2%. Amend a 2013 tax return Para obtener más información acerca de los arreglos IRA, vea el capítulo 17. Amend a 2013 tax return Deducciones no Sujetas al Límite del 2% Puede deducir los artículos indicados a continuación como deducciones detalladas misceláneas. Amend a 2013 tax return No están sujetas al límite del 2%. Amend a 2013 tax return Declare estos artículos en la línea 28 del Anexo A del Formulario 1040. Amend a 2013 tax return Lista de Deducciones Se explica cada uno de los siguientes artículos en detalle después de la lista (excepto cuando se indica al contrario). Amend a 2013 tax return Prima amortizable de bonos tributables. Amend a 2013 tax return Pérdidas por hecho fortuito y robo de una propiedad que genera ingresos. Amend a 2013 tax return Impuesto federal sobre la herencia atribuible a los ingresos de un difunto. Amend a 2013 tax return Pérdidas de apuestas y juegos de azar hasta la cantidad de sus ganancias del juego. Amend a 2013 tax return Gastos del trabajo relacionados con los impedimentos de personas con incapacidades. Amend a 2013 tax return Pérdida por otras actividades anotadas en el recuadro 2 del Anexo K-1 del Formulario 1065-B. Amend a 2013 tax return Pérdidas por estafas de inversiones engañosas tipo Ponzi. Amend a 2013 tax return Vea, Pérdidas proveneintes de estafas de inversiones del tipo Ponzi (Ponzi schemes) , en el capítulo 25. Amend a 2013 tax return Reintegros de más de $3,000 por la reclamación de un derecho. Amend a 2013 tax return Inversión no recuperada en una anualidad. Amend a 2013 tax return Prima Amortizable de Bonos Tributables En general, si la cantidad que paga por un bono es superior a la cantidad de capital estipulado, el excedente corresponde a la prima de los bonos. Amend a 2013 tax return Puede optar por amortizar la prima de bonos tributables. Amend a 2013 tax return Por lo general, la amortización de la prima compensa los ingresos de intereses sobre el bono en lugar de ser una deducción diferente. Amend a 2013 tax return Parte de la prima de algunos bonos puede ser una deducción miscelánea no sujeta al límite del 2%. Amend a 2013 tax return Para obtener más información, vea Amortizable Premium on Taxable Bonds (Prima amortizable de bonos tributables) en la Publicación 529 y Bond Premium Amortization (Amortización de prima de bono) en el capítulo 3 de la Publicación 550, Investment Income and Expenses (Gastos e ingresos de inversión), ambas en inglés. Amend a 2013 tax return Pérdidas por Hecho Fortuito y Robo de Propiedad que Genera Ingresos Puede deducir una pérdida por hecho fortuito o robo como deducción detallada miscelánea no sujeta al límite del 2% si la propiedad dañada o robada era una propiedad que generaba ingresos (propiedad que se tiene con fines de inversión, tal como acciones, pagarés, bonos, oro, plata, terrenos sin construir y obras de arte). Amend a 2013 tax return Primero, declare la pérdida en la Sección B del Formulario 4684. Amend a 2013 tax return Asimismo, es posible que tenga que incluir la pérdida en el Formulario 4797, Sales of Business Property (Ventas de bienes comerciales), en inglés, si por algún otro motivo está obligado a presentar ese formulario. Amend a 2013 tax return Para calcular su deducción, sume todas las pérdidas por hecho fortuito o robo de este tipo de propiedad que se incluyan en las líneas 32 y 38b del Formulario 4684, o la línea 18a del Formulario 4797. Amend a 2013 tax return Para obtener más información acerca de las pérdidas por hecho fortuito y robo, consulte el capítulo 25. Amend a 2013 tax return Impuesto Federal sobre la Herencia Atribuible a los Ingresos de un Difunto Puede deducir el impuesto federal sobre la herencia atribuible a los ingresos de un difunto que usted, como beneficiario, incluye en sus ingresos brutos. Amend a 2013 tax return Los ingresos de un difunto son ingresos brutos que habría recibido éste si no hubiese fallecido y que no se podían incluir debidamente en la última declaración de impuestos del difunto. Amend a 2013 tax return Vea la Publicación 559, en inglés, para obtener más información. Amend a 2013 tax return Pérdidas de Apuestas y Juegos de Azar hasta la Cantidad de sus Ganancias de Juego Tiene que declarar la cantidad total de sus ganancias de apuestas y juegos de azar que tuvo en el año en la línea 21 del Formulario 1040. Amend a 2013 tax return Debe deducir sus pérdidas de juego que tuvo en el año en la línea 28 del Anexo A del Formulario 1040. Amend a 2013 tax return No puede deducir las pérdidas de apuestas y juegos de azar que sean superiores a las ganancias. Amend a 2013 tax return No puede reducir las ganancias de apuestas y juegos de azar por las pérdidas de juego y declarar la diferencia. Amend a 2013 tax return Tiene que declarar la cantidad total de las ganancias como ingresos, y las pérdidas (hasta la cantidad de su ganancias), como deducción detallada. Amend a 2013 tax return Por consiguiente, su documentación debe mostrar las ganancias por separado de las pérdidas. Amend a 2013 tax return Diario de ganancias y pérdidas. Amend a 2013 tax return Tiene que mantener un diario exacto o registro parecido de sus ganancias y pérdidas provenientes de apuestas y juegos de azar. Amend a 2013 tax return Su diario debe contener, como mínimo, la siguiente información: La fecha y el tipo de apuesta específica o actividad de apuestas. Amend a 2013 tax return El nombre y la dirección o ubicación del establecimiento de apuestas. Amend a 2013 tax return Los nombres de otras personas que lo acompañan en el establecimiento de apuestas. Amend a 2013 tax return La (o las) cantidad(es) que ganó o perdió. Amend a 2013 tax return Vea la Publicación 529, en inglés, para información adicional. Amend a 2013 tax return Gastos de Trabajo Relacionados con un Impedimento Si tiene una incapacidad física o mental que limite su capacidad para trabajar o limite sustancialmente una o más de las actividades principales de la vida (como realizar tareas manuales, caminar, hablar, respirar, aprender y trabajar), puede deducir sus gastos de trabajo relacionados con dicho impedimento. Amend a 2013 tax return Los gastos de trabajo relacionados con un impedimento son gastos ordinarios y necesarios del negocio incurridos por servicios de un asistente en su lugar de trabajo y por otros gastos relacionados con su lugar de trabajo que sean necesarios para que pueda trabajar. Amend a 2013 tax return Personas que trabajan por cuenta propia. Amend a 2013 tax return   Si trabaja por cuenta propia, anote los gastos de trabajo relacionados con su incapacidad en el formulario correspondiente (Anexo C, C-EZ, E o F) que utilice para declarar los ingresos y gastos de negocio. Amend a 2013 tax return Pérdida por Otras Actividades Anotadas en el Recuadro 2 del Anexo K-1 del Formulario 1065-B Si la cantidad declarada en el recuadro 2 del Anexo K-1 del Formulario 1065-B es una pérdida, declárela en la línea 28 del Anexo A del Formulario 1040. Amend a 2013 tax return No está sujeto a las limitaciones de actividades pasivas. Amend a 2013 tax return Reintegros por la Reclamación de un Derecho Si tuvo que reintegrar más de $3,000 que incluyó en los ingresos de un año anterior porque en ese momento pensaba que tenía un derecho no restringido a dichos ingresos, tal vez pueda deducir la cantidad que pagó o solicitar que se la acrediten en sus impuestos. Amend a 2013 tax return Vea Reintegros en el capítulo 12, para más información. Amend a 2013 tax return Inversión no Recuperada en una Anualidad Un jubilado que haya contribuido al costo de una anualidad puede excluir de sus ingresos parte de cada pago que reciba, por ser rendimiento exento de impuestos de la inversión del jubilado. Amend a 2013 tax return Si el jubilado muere antes de recuperar toda la inversión libre de impuestos, se podría deducir toda inversión no recuperada en la declaración final de impuestos del jubilado. Amend a 2013 tax return Vea el capítulo 10 para obtener más información acerca del trato tributario de las pensiones y anualidades. Amend a 2013 tax return Gastos no Deducibles A continuación se enumeran algunos ejemplos de gastos no deducibles. Amend a 2013 tax return Luego, se explican en mayor detalle los gastos no deducibles adicionales. Amend a 2013 tax return Lista de Gastos no Deducibles Comisiones de agentes bursátiles que usted pagó con respecto a su arreglo IRA u otra propiedad de inversión. Amend a 2013 tax return Gastos de entierro o funeral, incluido el costo de la tumba. Amend a 2013 tax return Gastos de capital. Amend a 2013 tax return Cargos y licencias, como licencias de automóvil, de matrimonio y placas de identificación. Amend a 2013 tax return Pérdidas relacionadas con pasatiempos; no obstante, vea Gastos Relacionados con un Pasatiempo , anteriormente. Amend a 2013 tax return Reparaciones, seguro y alquiler de la vivienda. Amend a 2013 tax return Sobornos y comisiones clandestinas. Amend a 2013 tax return Vea Bribes and kickbacks (Sobornos y comisiones clandestinas) en el capítulo 11 de la Publicación 535, en inglés. Amend a 2013 tax return Pérdidas de la venta de su vivienda, mobiliario, automóvil personal, etc. Amend a 2013 tax return Primas de seguro personal por incapacidad. Amend a 2013 tax return Gastos personales, de vida o familiares. Amend a 2013 tax return Valor de salarios no recibidos o período de vacaciones no utilizadas. Amend a 2013 tax return Gastos de Adopción No puede deducir los gastos que incurre en la adopción de un niño, pero tal vez pueda tomar un crédito para esos gastos. Amend a 2013 tax return Vea el capítulo 36. Amend a 2013 tax return Gastos de Campaña Electoral No puede deducir gastos que un candidato para un cargo público incurre en su campaña electoral, incluso si el candidato está postulando para la reelección a dicho cargo. Amend a 2013 tax return Estos incluyen cargos de calificación e inscripción para las elecciones primarias. Amend a 2013 tax return Honorarios legales. Amend a 2013 tax return   No puede deducir honorarios legales que se pagan para defender cargos derivados de la participación en una campaña política. Amend a 2013 tax return Cargos por Emisión de Cheques de Cuenta Personal Si tiene una cuenta corriente personal, no puede deducir cargos cobrados por el banco por el privilegio de emitir cheques, incluso si la cuenta devenga intereses. Amend a 2013 tax return Cuotas de Clubes Por lo general, no puede deducir el costo de afiliación a un club organizado para fines comerciales, de placer, recreación u otro fin social. Amend a 2013 tax return Esto incluye clubes de negocios, sociales, atléticos, de almuerzo, deportivos, de aerolíneas, hoteles, golf y de campo. Amend a 2013 tax return No puede deducir cuotas pagadas a una organización si uno de los propósitos principales de ésta es: Realizar actividades sociales para los miembros o sus invitados u Ofrecer a los miembros o sus invitados acceso a establecimientos de actividades sociales. Amend a 2013 tax return No se pueden deducir las cuotas pagadas a aerolíneas, hoteles o clubes de almuerzo. Amend a 2013 tax return Gastos de Transporte entre su Domicilio y el Trabajo No puede deducir gastos de viaje de ida y vuelta al trabajo (el costo de su transporte entre su residencia y su lugar de trabajo principal o habitual). Amend a 2013 tax return Si transporta herramientas, instrumentos u otros artículos en su automóvil de ida y vuelta a su trabajo, puede deducir sólo el costo adicional de transporte de dichos artículos, como el alquiler de un remolque para el transporte de los mismos. Amend a 2013 tax return Multas o Sanciones No puede deducir multas o sanciones que pague a una oficina del gobierno por infringir una ley. Amend a 2013 tax return Esto incluye cantidades pagadas para liquidar su responsabilidad real o posible de una multa o sanción (civil o penal). Amend a 2013 tax return Las multas o sanciones incluyen multas de estacionamiento, sanciones tributarias y sanciones deducidas de su sueldo de maestro después de una huelga ilícita. Amend a 2013 tax return Gastos de Balnearios No puede deducir gastos de un balneario (spa), aun si existe un requisito laboral para mantenerse en excelente condición física, como podría ser el caso de un oficial encargado del orden público. Amend a 2013 tax return Sistema de Seguridad Residencial No puede deducir el costo de un sistema de seguridad residencial como una deducción miscelánea. Amend a 2013 tax return Sin embargo, tal vez pueda reclamar una deducción por un sistema de seguridad residencial como gasto de negocios, si es que tiene una oficina en su casa. Amend a 2013 tax return Vea Oficina en el Domicilio bajo Gastos del Empleado no Reembolsados, anteriormente, y Security System (Sistema de seguridad) bajo Deducting Expenses (Deducción de gastos) en la Publicación 587, en inglés. Amend a 2013 tax return Seminarios Relacionados con Inversiones No puede deducir gastos por asistir a una convención, seminario o reunión parecida para fines de inversión. Amend a 2013 tax return Primas de Seguro de Vida No puede deducir primas que pague por su propio seguro de vida. Amend a 2013 tax return Tal vez pueda deducir como pensión para el cónyuge divorciado primas que pague por las pólizas de seguro de vida asignadas a su ex-cónyuge. Amend a 2013 tax return Consulte el capítulo 18 para información sobre la pensión alimenticia. Amend a 2013 tax return Gastos de Cabildeo Por lo general, no puede deducir cantidades pagadas o incurridas por concepto de cabildeo. Amend a 2013 tax return Estos incluyen gastos para: Influenciar el proceso de legislación, Participar o intervenir en una campaña política a favor o en contra de un candidato a un cargo público, Intentar influenciar al público en general, o a un segmento del público, respecto a las elecciones, materias legislativas o referéndums o Comunicarse directamente con funcionarios del poder ejecutivo bajo protección en un intento de influenciar las acciones del funcionario o las opiniones del mismo. Amend a 2013 tax return Los gastos de cabildeo también incluyen cantidades pagadas o gastos en los que ha incurrido para la investigación, preparación, planificación o coordinación de cualquiera de estas actividades. Amend a 2013 tax return Cuotas usadas para cabildeo. Amend a 2013 tax return   Si una organización exenta de impuestos le notifica que esa parte de las cuotas u otras cantidades que usted paga a la organización se utilizan para pagar gastos de cabildeo no deducibles, no puede deducir esa parte de las cuotas. Amend a 2013 tax return Vea Lobbying Expenses (Gastos de cabildeo) en la Publicación 529, en inglés, para obtener información sobre las excepciones. Amend a 2013 tax return Dinero en Efectivo o Bienes Perdidos o Extraviados No puede deducir una pérdida basada en la simple desaparición de dinero o bienes. Amend a 2013 tax return Sin embargo, una pérdida o desaparición accidental de bienes puede considerarse hecho fortuito si es causada por un acontecimiento que se pueda identificar y que sea repentino, inesperado o poco común. Amend a 2013 tax return Vea el capítulo 25. Amend a 2013 tax return Ejemplo. Amend a 2013 tax return Se cierra una puerta de su automóvil accidentalmente en su mano y rompe el engaste de su anillo de diamante. Amend a 2013 tax return El diamante se cae del anillo y nunca lo pudo encontrar. Amend a 2013 tax return La pérdida del diamante es un hecho fortuito. Amend a 2013 tax return Almuerzos con Compañeros de Trabajo No puede deducir los gastos de almuerzos con compañeros de trabajo, excepto si viaja lejos de casa por razones comerciales. Amend a 2013 tax return Vea el capítulo 26 para obtener información acerca de los gastos deducibles mientras se encuentra lejos de su domicilio. Amend a 2013 tax return Comidas Cuando Trabaja Hasta Tarde No puede deducir el costo de comidas si trabaja hasta tarde. Amend a 2013 tax return Sin embargo, tal vez pueda declarar una deducción si el costo de las comidas es un gasto de entretenimiento deducible o si viaja lejos de casa. Amend a 2013 tax return Vea el capítulo 26 para obtener información sobre gastos de entretenimiento deducibles y gastos durante viajes lejos de su domicilio. Amend a 2013 tax return Gastos por Asuntos Legales Personales No puede deducir gastos por asuntos legales personales, como aquéllos en los que se ha incurrido en los siguientes casos: Tutoría de hijos. Amend a 2013 tax return Demanda por incumplimiento de promesa de matrimonio. Amend a 2013 tax return Cargos civiles o penales derivados de una relación personal. Amend a 2013 tax return Daños por lesiones personales, a excepción de ciertas reclamaciones por discriminación ilegal y por denuncia de actividades ilícitas en una empresa. Amend a 2013 tax return Preparación de un título (o defensa o perfeccionamiento de un título). Amend a 2013 tax return Preparación de un testamento. Amend a 2013 tax return Reclamaciones de propiedad o liquidación de propiedad en un divorcio. Amend a 2013 tax return No puede deducir estos gastos incluso si una consecuencia del proceso legal es la pérdida de propiedad que genera ingresos. Amend a 2013 tax return Donaciones Políticas No puede deducir donaciones hechas a un candidato político, un comité de campaña o un fondo para publicar boletines. Amend a 2013 tax return Los avisos publicitarios en programas de convenciones y entradas a cenas o programas que benefician a un partido o candidato político no son deducibles. Amend a 2013 tax return Costos de Acreditación Profesional No puede deducir costos de acreditación profesional tales como: Costos de certificado de contabilidad pagados para el derecho inicial de poder practicar la contabilidad. Amend a 2013 tax return Costos del examen para el ejercicio de la abogacía y gastos afines para asegurarse el ingreso inicial al colegio de abogados. Amend a 2013 tax return Costos de licencias médicas y dentales para obtener la primera licencia de ejercicio de la profesión. Amend a 2013 tax return Reputación Profesional No puede deducir gastos por salir en un programa de radio o televisión para aumentar su prestigio personal o establecer su reputación profesional. Amend a 2013 tax return Aportaciones a un Fondo de Ayuda Económica No puede deducir aportaciones pagadas a un plan privado que pague beneficios a los empleados cubiertos que no puedan trabajar debido a una lesión o enfermedad no relacionada con el trabajo. Amend a 2013 tax return Servicio Telefónico Residencial No puede deducir un cobro (incluidos impuestos) por un servicio telefónico local básico de la línea telefónica principal de su residencia, aun cuando se utilice en una ocupación o negocio. Amend a 2013 tax return Reuniones de Accionistas No puede deducir gastos de transporte ni otros que paga para asistir a reuniones de accionistas de empresas en las que tiene participación accionaria, pero no de otra índole. Amend a 2013 tax return No puede deducir estos gastos aunque asista a la reunión para obtener información que podría ser útil al efectuar otras inversiones. Amend a 2013 tax return Gastos de Ingresos Exentos de Impuestos No puede deducir gastos que incurre para generar ingresos exentos de impuestos. Amend a 2013 tax return No puede deducir intereses de una deuda en la que haya incurrido o continúa para comprar o portar valores exentos de impuestos. Amend a 2013 tax return Si usted incurre gastos para generar ingresos tributables y exentos de impuestos, pero no puede identificar los gastos que generan cada tipo de ingreso, tiene que dividir los gastos según la cantidad de cada tipo de ingreso para determinar la cantidad que puede deducir. Amend a 2013 tax return Ejemplo. Amend a 2013 tax return Durante el año recibió intereses tributables de $4,800 e intereses exentos de impuestos de $1,200. Amend a 2013 tax return Al obtener este ingreso, tuvo un total de gastos de $500 durante el año. Amend a 2013 tax return No puede identificar la cantidad de cada gasto correspondiente a cada ingreso. Amend a 2013 tax return Por lo tanto, el 80% ($4,800/$6,000) del gasto corresponde a los intereses tributables y el 20% ($1,200/$6,000) corresponde a los intereses exentos de impuestos. Amend a 2013 tax return Puede deducir, sujeto al límite del 2%, gastos de $400 (80% de $500). Amend a 2013 tax return Gastos de Viaje para Otra Persona Por lo general, no puede deducir los gastos de viaje que pague o en los que incurra para su cónyuge, dependiente, u otra persona que lo acompañe (o su empleado) en un viaje de negocios o por motivos personales, a menos que el cónyuge, el dependiente, o la otra persona sea un empleado del contribuyente; el viaje sea para un propósito comercial de buena fe (bona fide); y tales gastos serían de otra manera deducibles por el cónyuge, dependiente u otra persona. Amend a 2013 tax return Vea el capítulo 26 para más información sobre gastos de viaje deducibles. Amend a 2013 tax return Aportaciones Voluntarias al Fondo de Beneficios por Desempleo No puede deducir aportaciones voluntarias al fondo de beneficios por desempleo que usted realice a un fondo sindical o a un fondo privado. Amend a 2013 tax return Sin embargo, puede deducir las aportaciones como impuestos si la ley estatal le exige que las haga a un fondo de desempleo del estado que le protege de la pérdida de sueldos por desempleo causado por condiciones comerciales. Amend a 2013 tax return Relojes de Pulsera No puede deducir el costo de un reloj de pulsera, incluso si existe un requisito laboral que establezca que tiene que saber la hora correcta para realizar sus funciones de manera adecuada. Amend a 2013 tax return Prev  Up  Next   Home   More Online Publications
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The Amend A 2013 Tax Return

Amend a 2013 tax return Publication 530 - Main Content Table of Contents What You Can and Cannot DeductHardest Hit Fund and Emergency Homeowners' Loan Programs Real Estate Taxes Sales Taxes Home Mortgage Interest Mortgage Insurance Premiums Mortgage Interest CreditFiguring the Credit BasisFiguring Your Basis Adjusted Basis Keeping Records How To Get Tax HelpLow Income Taxpayer Clinics What You Can and Cannot Deduct To deduct expenses of owning a home, you must file Form 1040, U. Amend a 2013 tax return S. Amend a 2013 tax return Individual Income Tax Return, and itemize your deductions on Schedule A (Form 1040). Amend a 2013 tax return If you itemize, you cannot take the standard deduction. Amend a 2013 tax return This section explains what expenses you can deduct as a homeowner. Amend a 2013 tax return It also points out expenses that you cannot deduct. Amend a 2013 tax return There are four primary discussions: real estate taxes, sales taxes, home mortgage interest, and mortgage insurance premiums. Amend a 2013 tax return Generally, your real estate taxes, home mortgage interest, and mortgage insurance premiums are included in your house payment. Amend a 2013 tax return Your house payment. Amend a 2013 tax return   If you took out a mortgage (loan) to finance the purchase of your home, you probably have to make monthly house payments. Amend a 2013 tax return Your house payment may include several costs of owning a home. Amend a 2013 tax return The only costs you can deduct are real estate taxes actually paid to the taxing authority, interest that qualifies as home mortgage interest, and mortgage insurance premiums. Amend a 2013 tax return These are discussed in more detail later. Amend a 2013 tax return   Some nondeductible expenses that may be included in your house payment include: Fire or homeowner's insurance premiums, and The amount applied to reduce the principal of the mortgage. Amend a 2013 tax return Minister's or military housing allowance. Amend a 2013 tax return   If you are a minister or a member of the uniformed services and receive a housing allowance that is not taxable, you still can deduct your real estate taxes and your home mortgage interest. Amend a 2013 tax return You do not have to reduce your deductions by your nontaxable allowance. Amend a 2013 tax return For more information see Publication 517, Social Security and Other Information for Members of the Clergy and Religious Workers, and Publication 3, Armed Forces' Tax Guide. Amend a 2013 tax return Nondeductible payments. Amend a 2013 tax return   You cannot deduct any of the following items. Amend a 2013 tax return Insurance (other than mortgage insurance premiums), including fire and comprehensive coverage, and title insurance. Amend a 2013 tax return Wages you pay for domestic help. Amend a 2013 tax return Depreciation. Amend a 2013 tax return The cost of utilities, such as gas, electricity, or water. Amend a 2013 tax return Most settlement costs. Amend a 2013 tax return See Settlement or closing costs under Cost as Basis, later, for more information. Amend a 2013 tax return Forfeited deposits, down payments, or earnest money. Amend a 2013 tax return Hardest Hit Fund and Emergency Homeowners' Loan Programs You can use a special method to compute your deduction for mortgage interest and real estate taxes on your main home if you meet the following two conditions. Amend a 2013 tax return You received assistance under: A State Housing Finance Agency (State HFA) Hardest Hit Fund program in which program payments could be used to pay mortgage interest, or An Emergency Homeowners' Loan Program administered by the Department of Housing and Urban Development (HUD) or a state. Amend a 2013 tax return You meet the rules to deduct all of the mortgage interest on your loan and all of the real estate taxes on your main home. Amend a 2013 tax return If you meet these tests, then you can deduct all of the payments you actually made during the year to your mortgage servicer, the State HFA, or HUD on the home mortgage (including the amount shown on box 3 of Form 1098-MA, Mortgage Assistance Payments), but not more than the sum of the amounts shown on Form 1098, Mortgage Interest Statement, in box 1 (mortgage interest received), box 4 (mortgage insurance premiums) and box 5 (real property taxes). Amend a 2013 tax return However, you are not required to use this special method to compute your deduction for mortgage interest and real estate taxes on your main home. Amend a 2013 tax return Real Estate Taxes Most state and local governments charge an annual tax on the value of real property. Amend a 2013 tax return This is called a real estate tax. Amend a 2013 tax return You can deduct the tax if it is assessed uniformly at a like rate on all real property throughout the community. Amend a 2013 tax return The proceeds must be for general community or governmental purposes and not be a payment for a special privilege granted or service rendered to you. Amend a 2013 tax return Deductible Real Estate Taxes You can deduct real estate taxes imposed on you. Amend a 2013 tax return You must have paid them either at settlement or closing, or to a taxing authority (either directly or through an escrow account) during the year. Amend a 2013 tax return If you own a cooperative apartment, see Special Rules for Cooperatives , later. Amend a 2013 tax return Where to deduct real estate taxes. Amend a 2013 tax return   Enter the amount of your deductible real estate taxes on Schedule A (Form 1040), line 6. Amend a 2013 tax return Real estate taxes paid at settlement or closing. Amend a 2013 tax return   Real estate taxes are generally divided so that you and the seller each pay taxes for the part of the property tax year you owned the home. Amend a 2013 tax return Your share of these taxes is fully deductible if you itemize your deductions. Amend a 2013 tax return Division of real estate taxes. Amend a 2013 tax return   For federal income tax purposes, the seller is treated as paying the property taxes up to, but not including, the date of sale. Amend a 2013 tax return You (the buyer) are treated as paying the taxes beginning with the date of sale. Amend a 2013 tax return This applies regardless of the lien dates under local law. Amend a 2013 tax return Generally, this information is included on the settlement statement you get at closing. Amend a 2013 tax return   You and the seller each are considered to have paid your own share of the taxes, even if one or the other paid the entire amount. Amend a 2013 tax return You each can deduct your own share, if you itemize deductions, for the year the property is sold. Amend a 2013 tax return Example. Amend a 2013 tax return You bought your home on September 1. Amend a 2013 tax return The property tax year (the period to which the tax relates) in your area is the calendar year. Amend a 2013 tax return The tax for the year was $730 and was due and paid by the seller on August 15. Amend a 2013 tax return You owned your new home during the property tax year for 122 days (September 1 to December 31, including your date of purchase). Amend a 2013 tax return You figure your deduction for real estate taxes on your home as follows. Amend a 2013 tax return 1. Amend a 2013 tax return Enter the total real estate taxes for the real property tax year $730 2. Amend a 2013 tax return Enter the number of days in the property tax year that you owned the property 122 3. Amend a 2013 tax return Divide line 2 by 365 . Amend a 2013 tax return 3342 4. Amend a 2013 tax return Multiply line 1 by line 3. Amend a 2013 tax return This is your deduction. Amend a 2013 tax return Enter it on Schedule A (Form 1040), line 6 $244   You can deduct $244 on your return for the year if you itemize your deductions. Amend a 2013 tax return You are considered to have paid this amount and can deduct it on your return even if, under the contract, you did not have to reimburse the seller. Amend a 2013 tax return Delinquent taxes. Amend a 2013 tax return   Delinquent taxes are unpaid taxes that were imposed on the seller for an earlier tax year. Amend a 2013 tax return If you agree to pay delinquent taxes when you buy your home, you cannot deduct them. Amend a 2013 tax return You treat them as part of the cost of your home. Amend a 2013 tax return See Real estate taxes , later, under Basis. Amend a 2013 tax return Escrow accounts. Amend a 2013 tax return   Many monthly house payments include an amount placed in escrow (put in the care of a third party) for real estate taxes. Amend a 2013 tax return You may not be able to deduct the total you pay into the escrow account. Amend a 2013 tax return You can deduct only the real estate taxes that the lender actually paid from escrow to the taxing authority. Amend a 2013 tax return Your real estate tax bill will show this amount. Amend a 2013 tax return Refund or rebate of real estate taxes. Amend a 2013 tax return   If you receive a refund or rebate of real estate taxes this year for amounts you paid this year, you must reduce your real estate tax deduction by the amount refunded to you. Amend a 2013 tax return If the refund or rebate was for real estate taxes paid for a prior year, you may have to include some or all of the refund in your income. Amend a 2013 tax return For more information, see Recoveries in Publication 525, Taxable and Nontaxable Income. Amend a 2013 tax return Items You Cannot Deduct as Real Estate Taxes The following items are not deductible as real estate taxes. Amend a 2013 tax return Charges for services. Amend a 2013 tax return   An itemized charge for services to specific property or people is not a tax, even if the charge is paid to the taxing authority. Amend a 2013 tax return You cannot deduct the charge as a real estate tax if it is: A unit fee for the delivery of a service (such as a $5 fee charged for every 1,000 gallons of water you use), A periodic charge for a residential service (such as a $20 per month or $240 annual fee charged for trash collection), or A flat fee charged for a single service provided by your local government (such as a $30 charge for mowing your lawn because it had grown higher than permitted under a local ordinance). Amend a 2013 tax return    You must look at your real estate tax bill to decide if any nondeductible itemized charges, such as those listed above, are included in the bill. Amend a 2013 tax return If your taxing authority (or lender) does not furnish you a copy of your real estate tax bill, ask for it. Amend a 2013 tax return Contact the taxing authority if you need additional information about a specific charge on your real estate tax bill. Amend a 2013 tax return Assessments for local benefits. Amend a 2013 tax return   You cannot deduct amounts you pay for local benefits that tend to increase the value of your property. Amend a 2013 tax return Local benefits include the construction of streets, sidewalks, or water and sewer systems. Amend a 2013 tax return You must add these amounts to the basis of your property. Amend a 2013 tax return   You can, however, deduct assessments (or taxes) for local benefits if they are for maintenance, repair, or interest charges related to those benefits. Amend a 2013 tax return An example is a charge to repair an existing sidewalk and any interest included in that charge. Amend a 2013 tax return   If only a part of the assessment is for maintenance, repair, or interest charges, you must be able to show the amount of that part to claim the deduction. Amend a 2013 tax return If you cannot show what part of the assessment is for maintenance, repair, or interest charges, you cannot deduct any of it. Amend a 2013 tax return   An assessment for a local benefit may be listed as an item in your real estate tax bill. Amend a 2013 tax return If so, use the rules in this section to find how much of it, if any, you can deduct. Amend a 2013 tax return Transfer taxes (or stamp taxes). Amend a 2013 tax return   You cannot deduct transfer taxes and similar taxes and charges on the sale of a personal home. Amend a 2013 tax return If you are the buyer and you pay them, include them in the cost basis of the property. Amend a 2013 tax return If you are the seller and you pay them, they are expenses of the sale and reduce the amount realized on the sale. Amend a 2013 tax return Homeowners association assessments. Amend a 2013 tax return   You cannot deduct these assessments because the homeowners association, rather than a state or local government, imposes them. Amend a 2013 tax return Special Rules for Cooperatives If you own a cooperative apartment, some special rules apply to you, though you generally receive the same tax treatment as other homeowners. Amend a 2013 tax return As an owner of a cooperative apartment, you own shares of stock in a corporation that owns or leases housing facilities. Amend a 2013 tax return You can deduct your share of the corporation's deductible real estate taxes if the cooperative housing corporation meets the following conditions: The corporation has only one class of stock outstanding, Each stockholder, solely because of ownership of the stock, can live in a house, apartment, or house trailer owned or leased by the corporation, No stockholder can receive any distribution out of capital, except on a partial or complete liquidation of the corporation, and At least one of the following: At least 80% of the corporation's gross income for the tax year was paid by the tenant-stockholders. Amend a 2013 tax return For this purpose, gross income means all income received during the entire tax year, including any received before the corporation changed to cooperative ownership. Amend a 2013 tax return At least 80% of the total square footage of the corporation's property must be available for use by the tenant-stockholders during the entire tax year. Amend a 2013 tax return At least 90% of the expenditures paid or incurred by the corporation were used for the acquisition, construction, management, maintenance, or care of the property for the benefit of the tenant-shareholders during the entire tax year. Amend a 2013 tax return Tenant-stockholders. Amend a 2013 tax return   A tenant-stockholder can be any entity (such as a corporation, trust, estate, partnership, or association) as well as an individual. Amend a 2013 tax return The tenant-stockholder does not have to live in any of the cooperative's dwelling units. Amend a 2013 tax return The units that the tenant-stockholder has the right to occupy can be rented to others. Amend a 2013 tax return Deductible taxes. Amend a 2013 tax return   You figure your share of real estate taxes in the following way. Amend a 2013 tax return Divide the number of your shares of stock by the total number of shares outstanding, including any shares held by the corporation. Amend a 2013 tax return Multiply the corporation's deductible real estate taxes by the number you figured in (1). Amend a 2013 tax return This is your share of the real estate taxes. Amend a 2013 tax return   Generally, the corporation will tell you your share of its real estate tax. Amend a 2013 tax return This is the amount you can deduct if it reasonably reflects the cost of real estate taxes for your dwelling unit. Amend a 2013 tax return Refund of real estate taxes. Amend a 2013 tax return   If the corporation receives a refund of real estate taxes it paid in an earlier year, it must reduce the amount of real estate taxes paid this year when it allocates the tax expense to you. Amend a 2013 tax return Your deduction for real estate taxes the corporation paid this year is reduced by your share of the refund the corporation received. Amend a 2013 tax return Sales Taxes Generally, you can elect to deduct state and local general sales taxes instead of state and local income taxes as an itemized deduction on Schedule A (Form 1040). Amend a 2013 tax return Deductible sales taxes may include sales taxes paid on your home (including mobile and prefabricated), or home building materials if the tax rate was the same as the general sales tax rate. Amend a 2013 tax return For information on figuring your deduction, see the Instructions for Schedule A (Form 1040). Amend a 2013 tax return If you elect to deduct the sales taxes paid on your home, or home building materials, you cannot include them as part of your cost basis in the home. Amend a 2013 tax return Home Mortgage Interest This section of the publication gives you basic information about home mortgage interest, including information on interest paid at settlement, points, and Form 1098, Mortgage Interest Statement. Amend a 2013 tax return Most home buyers take out a mortgage (loan) to buy their home. Amend a 2013 tax return They then make monthly payments to either the mortgage holder or someone collecting the payments for the mortgage holder. Amend a 2013 tax return Usually, you can deduct the entire part of your payment that is for mortgage interest, if you itemize your deductions on Schedule A (Form 1040). Amend a 2013 tax return However, your deduction may be limited if: Your total mortgage balance is more than $1 million ($500,000 if married filing separately), or You took out a mortgage for reasons other than to buy, build, or improve your home. Amend a 2013 tax return If either of these situations applies to you, see Publication 936 for more information. Amend a 2013 tax return Also see Publication 936 if you later refinance your mortgage or buy a second home. Amend a 2013 tax return Refund of home mortgage interest. Amend a 2013 tax return   If you receive a refund of home mortgage interest that you deducted in an earlier year and that reduced your tax, you generally must include the refund in income in the year you receive it. Amend a 2013 tax return For more information, see Recoveries in Publication 525. Amend a 2013 tax return The amount of the refund will usually be shown on the mortgage interest statement you receive from your mortgage lender. Amend a 2013 tax return See Mortgage Interest Statement , later. Amend a 2013 tax return Deductible Mortgage Interest To be deductible, the interest you pay must be on a loan secured by your main home or a second home. Amend a 2013 tax return The loan can be a first or second mortgage, a home improvement loan, or a home equity loan. Amend a 2013 tax return Prepaid interest. Amend a 2013 tax return   If you pay interest in advance for a period that goes beyond the end of the tax year, you must spread this interest over the tax years to which it applies. Amend a 2013 tax return Generally, you can deduct in each year only the interest that qualifies as home mortgage interest for that year. Amend a 2013 tax return An exception (discussed later) applies to points. Amend a 2013 tax return Late payment charge on mortgage payment. Amend a 2013 tax return   You can deduct as home mortgage interest a late payment charge if it was not for a specific service in connection with your mortgage loan. Amend a 2013 tax return Mortgage prepayment penalty. Amend a 2013 tax return   If you pay off your home mortgage early, you may have to pay a penalty. Amend a 2013 tax return You can deduct that penalty as home mortgage interest provided the penalty is not for a specific service performed or cost incurred in connection with your mortgage loan. Amend a 2013 tax return Ground rent. Amend a 2013 tax return   In some states (such as Maryland), you may buy your home subject to a ground rent. Amend a 2013 tax return A ground rent is an obligation you assume to pay a fixed amount per year on the property. Amend a 2013 tax return Under this arrangement, you are leasing (rather than buying) the land on which your home is located. Amend a 2013 tax return Redeemable ground rents. Amend a 2013 tax return   If you make annual or periodic rental payments on a redeemable ground rent, you can deduct the payments as mortgage interest. Amend a 2013 tax return The ground rent is a redeemable ground rent only if all of the following are true. Amend a 2013 tax return Your lease, including renewal periods, is for more than 15 years. Amend a 2013 tax return You can freely assign the lease. Amend a 2013 tax return You have a present or future right (under state or local law) to end the lease and buy the lessor's entire interest in the land by paying a specified amount. Amend a 2013 tax return The lessor's interest in the land is primarily a security interest to protect the rental payments to which he or she is entitled. Amend a 2013 tax return   Payments made to end the lease and buy the lessor's entire interest in the land are not redeemable ground rents. Amend a 2013 tax return You cannot deduct them. Amend a 2013 tax return Nonredeemable ground rents. Amend a 2013 tax return   Payments on a nonredeemable ground rent are not mortgage interest. Amend a 2013 tax return You can deduct them as rent only if they are a business expense or if they are for rental property. Amend a 2013 tax return Cooperative apartment. Amend a 2013 tax return   You can usually treat the interest on a loan you took out to buy stock in a cooperative housing corporation as home mortgage interest if you own a cooperative apartment, and the cooperative housing corporation meets the conditions described earlier under Special Rules for Cooperatives . Amend a 2013 tax return In addition, you can treat as home mortgage interest your share of the corporation's deductible mortgage interest. Amend a 2013 tax return Figure your share of mortgage interest the same way that is shown for figuring your share of real estate taxes in the Example under Division of real estate taxes, earlier. Amend a 2013 tax return For more information on cooperatives, see Special Rule for Tenant-Stockholders in Cooperative Housing Corporations in Publication 936. Amend a 2013 tax return Refund of cooperative's mortgage interest. Amend a 2013 tax return   You must reduce your mortgage interest deduction by your share of any cash portion of a patronage dividend that the cooperative receives. Amend a 2013 tax return The patronage dividend is a partial refund to the cooperative housing corporation of mortgage interest it paid in a prior year. Amend a 2013 tax return   If you receive a Form 1098 from the cooperative housing corporation, the form should show only the amount you can deduct. Amend a 2013 tax return Mortgage Interest Paid at Settlement One item that normally appears on a settlement or closing statement is home mortgage interest. Amend a 2013 tax return You can deduct the interest that you pay at settlement if you itemize your deductions on Schedule A (Form 1040). Amend a 2013 tax return This amount should be included in the mortgage interest statement provided by your lender. Amend a 2013 tax return See the discussion under Mortgage Interest Statement , later. Amend a 2013 tax return Also, if you pay interest in advance, see Prepaid interest , earlier, and Points , next. Amend a 2013 tax return Points The term “points” is used to describe certain charges paid, or treated as paid, by a borrower to obtain a home mortgage. Amend a 2013 tax return Points also may be called loan origination fees, maximum loan charges, loan discount, or discount points. Amend a 2013 tax return A borrower is treated as paying any points that a home seller pays for the borrower's mortgage. Amend a 2013 tax return See Points paid by the seller , later. Amend a 2013 tax return General rule. Amend a 2013 tax return   You cannot deduct the full amount of points in the year paid. Amend a 2013 tax return They are prepaid interest, so you generally must deduct them over the life (term) of the mortgage. Amend a 2013 tax return Exception. Amend a 2013 tax return   You can deduct the full amount of points in the year paid if you meet all the following tests. Amend a 2013 tax return Your loan is secured by your main home. Amend a 2013 tax return (Generally, your main home is the one you live in most of the time. Amend a 2013 tax return ) Paying points is an established business practice in the area where the loan was made. Amend a 2013 tax return The points paid were not more than the points generally charged in that area. Amend a 2013 tax return You use the cash method of accounting. Amend a 2013 tax return This means you report income in the year you receive it and deduct expenses in the year you pay them. Amend a 2013 tax return Most individuals use this method. Amend a 2013 tax return The points were not paid in place of amounts that ordinarily are stated separately on the settlement statement, such as appraisal fees, inspection fees, title fees, attorney fees, and property taxes. Amend a 2013 tax return The funds you provided at or before closing, plus any points the seller paid, were at least as much as the points charged. Amend a 2013 tax return The funds you provided are not required to have been applied to the points. Amend a 2013 tax return They can include a down payment, an escrow deposit, earnest money, and other funds you paid at or before closing for any purpose. Amend a 2013 tax return You cannot have borrowed these funds. Amend a 2013 tax return You use your loan to buy or build your main home. Amend a 2013 tax return The points were computed as a percentage of the principal amount of the mortgage. Amend a 2013 tax return The amount is clearly shown on the settlement statement (such as the Uniform Settlement Statement, Form HUD-1) as points charged for the mortgage. Amend a 2013 tax return The points may be shown as paid from either your funds or the seller's. Amend a 2013 tax return Note. Amend a 2013 tax return If you meet all of the tests listed above and you itemize your deductions in the year you get the loan, you can either deduct the full amount of points in the year paid or deduct them over the life of the loan, beginning in the year you get the loan. Amend a 2013 tax return If you do not itemize your deductions in the year you get the loan, you can spread the points over the life of the loan and deduct the appropriate amount in each future year, if any, when you do itemize your deductions. Amend a 2013 tax return Home improvement loan. Amend a 2013 tax return   You can also fully deduct in the year paid points paid on a loan to improve your main home, if you meet the first six tests listed earlier. Amend a 2013 tax return Refinanced loan. Amend a 2013 tax return   If you use part of the refinanced mortgage proceeds to improve your main home and you meet the first six tests listed earlier, you can fully deduct the part of the points related to the improvement in the year you paid them with your own funds. Amend a 2013 tax return You can deduct the rest of the points over the life of the loan. Amend a 2013 tax return Points not fully deductible in year paid. Amend a 2013 tax return    If you do not qualify under the exception to deduct the full amount of points in the year paid (or choose not to do so), see Points in Publication 936 for the rules on when and how much you can deduct. Amend a 2013 tax return Figure A. Amend a 2013 tax return   You can use Figure A, next, as a quick guide to see whether your points are fully deductible in the year paid. Amend a 2013 tax return    Please click here for the text description of the image. Amend a 2013 tax return Figure A. Amend a 2013 tax return Are my points fully deductible this year? Amounts charged for services. Amend a 2013 tax return   Amounts charged by the lender for specific services connected to the loan are not interest. Amend a 2013 tax return Examples of these charges are: Appraisal fees, Notary fees, and Preparation costs for the mortgage note or deed of trust. Amend a 2013 tax return You cannot deduct these amounts as points either in the year paid or over the life of the mortgage. Amend a 2013 tax return For information about the tax treatment of these amounts and other settlement fees and closing costs, see Basis , later. Amend a 2013 tax return Points paid by the seller. Amend a 2013 tax return   The term “points” includes loan placement fees that the seller pays to the lender to arrange financing for the buyer. Amend a 2013 tax return Treatment by seller. Amend a 2013 tax return   The seller cannot deduct these fees as interest. Amend a 2013 tax return However, they are a selling expense that reduces the seller's amount realized. Amend a 2013 tax return See Publication 523 for more information. Amend a 2013 tax return Treatment by buyer. Amend a 2013 tax return   The buyer treats seller-paid points as if he or she had paid them. Amend a 2013 tax return If all the tests listed earlier under Exception are met, the buyer can deduct the points in the year paid. Amend a 2013 tax return If any of those tests are not met, the buyer must deduct the points over the life of the loan. Amend a 2013 tax return   The buyer must also reduce the basis of the home by the amount of the seller-paid points. Amend a 2013 tax return For more information about the basis of your home, see Basis , later. Amend a 2013 tax return Funds provided are less than points. Amend a 2013 tax return   If you meet all the tests listed earlier under Exception except that the funds you provided were less than the points charged to you (test 6), you can deduct the points in the year paid up to the amount of funds you provided. Amend a 2013 tax return In addition, you can deduct any points paid by the seller. Amend a 2013 tax return Example 1. Amend a 2013 tax return When you took out a $100,000 mortgage loan to buy your home in December, you were charged one point ($1,000). Amend a 2013 tax return You meet all the tests for deducting points in the year paid (see Exception , earlier), except the only funds you provided were a $750 down payment. Amend a 2013 tax return Of the $1,000 you were charged for points, you can deduct $750 in the year paid. Amend a 2013 tax return You spread the remaining $250 over the life of the mortgage. Amend a 2013 tax return Example 2. Amend a 2013 tax return The facts are the same as in Example 1 , except that the person who sold you your home also paid one point ($1,000) to help you get your mortgage. Amend a 2013 tax return In the year paid, you can deduct $1,750 ($750 of the amount you were charged plus the $1,000 paid by the seller). Amend a 2013 tax return You spread the remaining $250 over the life of the mortgage. Amend a 2013 tax return You must reduce the basis of your home by the $1,000 paid by the seller. Amend a 2013 tax return Excess points. Amend a 2013 tax return   If you meet all the tests under Exception , earlier, except that the points paid were more than are generally charged in your area (test 3), you can deduct in the year paid only the points that are generally charged. Amend a 2013 tax return You must spread any additional points over the life of the mortgage. Amend a 2013 tax return Mortgage ending early. Amend a 2013 tax return   If you spread your deduction for points over the life of the mortgage, you can deduct any remaining balance in the year the mortgage ends. Amend a 2013 tax return A mortgage may end early due to a prepayment, refinancing, foreclosure, or similar event. Amend a 2013 tax return Example. Amend a 2013 tax return Dan paid $3,000 in points in 2006 that he had to spread out over the 15-year life of the mortgage. Amend a 2013 tax return He had deducted $1,400 of these points through 2012. Amend a 2013 tax return Dan prepaid his mortgage in full in 2013. Amend a 2013 tax return He can deduct the remaining $1,600 of points in 2013. Amend a 2013 tax return Exception. Amend a 2013 tax return   If you refinance the mortgage with the same lender, you cannot deduct any remaining points for the year. Amend a 2013 tax return Instead, deduct them over the term of the new loan. Amend a 2013 tax return Form 1098. Amend a 2013 tax return   The mortgage interest statement you receive should show not only the total interest paid during the year, but also your deductible points paid during the year. Amend a 2013 tax return See Mortgage Interest Statement , later. Amend a 2013 tax return Where To Deduct Home Mortgage Interest Enter on Schedule A (Form 1040), line 10, the home mortgage interest and points reported to you on Form 1098 (discussed next). Amend a 2013 tax return If you did not receive a Form 1098, enter your deductible interest on line 11, and any deductible points on line 12. Amend a 2013 tax return See Table 1 below for a summary of where to deduct home mortgage interest and real estate taxes. Amend a 2013 tax return If you paid home mortgage interest to the person from whom you bought your home, show that person's name, address, and social security number (SSN) or employer identification number (EIN) on the dotted lines next to line 11. Amend a 2013 tax return The seller must give you this number and you must give the seller your SSN. Amend a 2013 tax return Form W-9, Request for Taxpayer Identification Number and Certification, can be used for this purpose. Amend a 2013 tax return Failure to meet either of these requirements may result in a $50 penalty for each failure. Amend a 2013 tax return Table 1. Amend a 2013 tax return Where To Deduct Interest and Taxes Paid on Your Home See the text for information on what expenses are eligible. Amend a 2013 tax return IF you are eligible to deduct . Amend a 2013 tax return . Amend a 2013 tax return . Amend a 2013 tax return THEN report the amount  on Schedule A (Form 1040) . Amend a 2013 tax return . Amend a 2013 tax return . Amend a 2013 tax return real estate taxes line 6. Amend a 2013 tax return home mortgage interest and points reported on Form 1098 line 10. Amend a 2013 tax return home mortgage interest not reported on  Form 1098 line 11. Amend a 2013 tax return points not reported on Form 1098 line 12. Amend a 2013 tax return qualified mortgage insurance premiums line 13. Amend a 2013 tax return Mortgage Interest Statement If you paid $600 or more of mortgage interest (including certain points and mortgage insurance premiums) during the year on any one mortgage to a mortgage holder in the course of that holder's trade or business, you should receive a Form 1098 or similar statement from the mortgage holder. Amend a 2013 tax return The statement will show the total interest paid on your mortgage during the year. Amend a 2013 tax return If you bought a main home during the year, it also will show the deductible points you paid and any points you can deduct that were paid by the person who sold you your home. Amend a 2013 tax return See Points , earlier. Amend a 2013 tax return The interest you paid at settlement should be included on the statement. Amend a 2013 tax return If it is not, add the interest from the settlement sheet that qualifies as home mortgage interest to the total shown on Form 1098 or similar statement. Amend a 2013 tax return Put the total on Schedule A (Form 1040), line 10, and attach a statement to your return explaining the difference. Amend a 2013 tax return Write “See attached” to the right of line 10. Amend a 2013 tax return A mortgage holder can be a financial institution, a governmental unit, or a cooperative housing corporation. Amend a 2013 tax return If a statement comes from a cooperative housing corporation, it generally will show your share of interest. Amend a 2013 tax return Your mortgage interest statement for 2013 should be provided or sent to you by January 31, 2014. Amend a 2013 tax return If it is mailed, you should allow adequate time to receive it before contacting the mortgage holder. Amend a 2013 tax return A copy of this form will be sent to the IRS also. Amend a 2013 tax return Example. Amend a 2013 tax return You bought a new home on May 3. Amend a 2013 tax return You paid no points on the purchase. Amend a 2013 tax return During the year, you made mortgage payments which included $4,480 deductible interest on your new home. Amend a 2013 tax return The settlement sheet for the purchase of the home included interest of $620 for 29 days in May. Amend a 2013 tax return The mortgage statement you receive from the lender includes total interest of $5,100 ($4,480 + $620). Amend a 2013 tax return You can deduct the $5,100 if you itemize your deductions. Amend a 2013 tax return Refund of overpaid interest. Amend a 2013 tax return   If you receive a refund of mortgage interest you overpaid in a prior year, you generally will receive a Form 1098 showing the refund in box 3. Amend a 2013 tax return Generally, you must include the refund in income in the year you receive it. Amend a 2013 tax return See Refund of home mortgage interest , earlier, under Home Mortgage Interest. Amend a 2013 tax return More than one borrower. Amend a 2013 tax return   If you and at least one other person (other than your spouse if you file a joint return) were liable for and paid interest on a mortgage that was for your home, and the other person received a Form 1098 showing the interest that was paid during the year, attach a statement to your return explaining this. Amend a 2013 tax return Show how much of the interest each of you paid, and give the name and address of the person who received the form. Amend a 2013 tax return Deduct your share of the interest on Schedule A (Form 1040), line 11, and write “See attached” to the right of that line. Amend a 2013 tax return Mortgage Insurance Premiums You may be able to take an itemized deduction on Schedule A (Form 1040), line 13, for premiums you pay or accrue during 2013 for qualified mortgage insurance in connection with home acquisition debt on your qualified home. Amend a 2013 tax return Mortgage insurance premiums you paid or accrued on any mortgage insurance contract issued before January 1, 2007, are not deductible as an itemized deduction. Amend a 2013 tax return Qualified Mortgage Insurance Qualified mortgage insurance is mortgage insurance provided by the Veterans Administration, the Federal Housing Administration, or the Rural Housing Administration, and private mortgage insurance (as defined in section 2 of the Homeowners Protection Act of 1998 as in effect on December 20, 2006). Amend a 2013 tax return Prepaid mortgage insurance premiums. Amend a 2013 tax return   If you paid premiums that are allocable to periods after 2013, you must allocate them over the shorter of: The stated term of the mortgage, or 84 months, beginning with the month the insurance was obtained. Amend a 2013 tax return The premiums are treated as paid in the year to which they were allocated. Amend a 2013 tax return If the mortgage is satisfied before its term, no deduction is allowed for the unamortized balance. Amend a 2013 tax return See Publication 936 for details. Amend a 2013 tax return Exception for certain mortgage insurance. Amend a 2013 tax return   The allocation rules, explained above, do not apply to qualified mortgage insurance provided by the Department of Veterans Affairs or Rural Housing Service. Amend a 2013 tax return Home Acquisition Debt Home acquisition debt is a mortgage you took out after October 13, 1987, to buy, build, or substantially improve a qualified home. Amend a 2013 tax return It also must be secured by that home. Amend a 2013 tax return If the amount of your mortgage is more than the cost of the home plus the cost of any substantial improvements, only the debt that is not more than the cost of the home plus improvements qualifies as home acquisition debt. Amend a 2013 tax return Home acquisition debt limit. Amend a 2013 tax return   The total amount you can treat as home acquisition debt at any time on your home cannot be more than $1 million ($500,000 if married filing separately). Amend a 2013 tax return Discharges of qualified principal residence indebtedness. Amend a 2013 tax return   You can exclude from gross income any discharges of qualified principal residence indebtedness made after 2006 and before 2014. Amend a 2013 tax return You must reduce the basis of your principal residence (but not below zero) by the amount you exclude. Amend a 2013 tax return Principal residence. Amend a 2013 tax return   Your principal residence is the home where you ordinarily live most of the time. Amend a 2013 tax return You can have only one principal residence at any one time. Amend a 2013 tax return Qualified principal residence indebtedness. Amend a 2013 tax return   This is a mortgage that you took out to buy, build, or substantially improve your principal residence and that is secured by that residence. Amend a 2013 tax return If the amount of your original mortgage is more than the cost of your principal residence plus the cost of substantial improvements, qualified principal residence indebtedness cannot be more than the cost of your principal residence plus improvements. Amend a 2013 tax return   Any debt secured by your principal residence that you use to refinance qualified principal residence indebtedness is qualified principal residence indebtedness up to the amount of your old mortgage principal just before the refinancing. Amend a 2013 tax return Additional debt incurred to substantially improve your principal residence is also qualified principal residence indebtedness. Amend a 2013 tax return Amount you can exclude. Amend a 2013 tax return   You can only exclude debt discharged after 2006 and before 2014. Amend a 2013 tax return The most you can exclude is $2 million ($1 million if married filing separately). Amend a 2013 tax return You cannot exclude any amount that was discharged because of services performed for the lender or on account of any other factor not directly related either to a decline in the value of your residence or to your financial condition. Amend a 2013 tax return Ordering rule. Amend a 2013 tax return   If only a part of a loan is qualified principal residence indebtedness, you can exclude only the amount of the discharge that is more than the amount of the loan (immediately before the discharge) that is not qualified principal residence indebtedness. Amend a 2013 tax return Qualified Home This means your main home or your second home. Amend a 2013 tax return A home includes a house, condominium, cooperative, mobile home, house trailer, boat, or similar property that has sleeping, cooking, and toilet facilities. Amend a 2013 tax return Main home. Amend a 2013 tax return   You can have only one main home at any one time. Amend a 2013 tax return This is the home where you ordinarily live most of the time. Amend a 2013 tax return Second home and other special situations. Amend a 2013 tax return   If you have a second home, use part of your home for other than residential living (such as a home office), rent out part of your home, or are having your home constructed, see Qualified Home in Publication 936. Amend a 2013 tax return Limit on Deduction If your adjusted gross income (AGI) on Form 1040, line 38, is more than $100,000 ($50,000 if your filing status is married filing separately), the amount of your mortgage insurance premiums that are deductible is reduced and may be eliminated. Amend a 2013 tax return See Line 13 in the instructions for Schedule A (Form 1040) and complete the Mortgage Insurance Premiums Deduction Worksheet to figure the amount you can deduct. Amend a 2013 tax return If your AGI is more than $109,000 ($54,500 if married filing separately), you cannot deduct your mortgage insurance premiums. Amend a 2013 tax return Form 1098. Amend a 2013 tax return   The amount of mortgage insurance premiums you paid during 2013 should be reported in box 4. Amend a 2013 tax return See Form 1098, Mortgage Interest Statement in Publication 936. Amend a 2013 tax return Mortgage Interest Credit The mortgage interest credit is intended to help lower-income individuals afford home ownership. Amend a 2013 tax return If you qualify, you can claim the credit on Form 8396 each year for part of the home mortgage interest you pay. Amend a 2013 tax return Who qualifies. Amend a 2013 tax return   You may be eligible for the credit if you were issued a qualified Mortgage Credit Certificate (MCC) from your state or local government. Amend a 2013 tax return Generally, an MCC is issued only in connection with a new mortgage for the purchase of your main home. Amend a 2013 tax return The MCC will show the certificate credit rate you will use to figure your credit. Amend a 2013 tax return It also will show the certified indebtedness amount. Amend a 2013 tax return Only the interest on that amount qualifies for the credit. Amend a 2013 tax return See Figuring the Credit , later. Amend a 2013 tax return You must contact the appropriate government agency about getting an MCC before you get a mortgage and buy your home. Amend a 2013 tax return Contact your state or local housing finance agency for information about the availability of MCCs in your area. Amend a 2013 tax return How to claim the credit. Amend a 2013 tax return   To claim the credit, complete Form 8396 and attach it to your Form 1040 or Form 1040NR, U. Amend a 2013 tax return S. Amend a 2013 tax return Nonresident Alien Income Tax Return. Amend a 2013 tax return Include the credit in your total for Form 1040, line 53, or Form 1040NR, line 50; be sure to check box c and write “Form 8396” on that line. Amend a 2013 tax return Reducing your home mortgage interest deduction. Amend a 2013 tax return   If you itemize your deductions on Schedule A (Form 1040), you must reduce your home mortgage interest deduction by the amount of the mortgage interest credit shown on Form 8396, line 3. Amend a 2013 tax return You must do this even if part of that amount is to be carried forward to 2014. Amend a 2013 tax return Selling your home. Amend a 2013 tax return   If you purchase a home after 1990 using an MCC, and you sell that home within 9 years, you may have to recapture (repay) all or part of the benefit you received from the MCC program. Amend a 2013 tax return For additional information, see Recapturing (Paying Back) a Federal Mortgage Subsidy, in Publication 523. Amend a 2013 tax return Figuring the Credit Figure your credit on Form 8396. Amend a 2013 tax return Mortgage not more than certified indebtedness. Amend a 2013 tax return   If your mortgage loan amount is equal to (or smaller than) the certified indebtedness amount shown on your MCC, enter on Form 8396, line 1, all the interest you paid on your mortgage during the year. Amend a 2013 tax return Mortgage more than certified indebtedness. Amend a 2013 tax return   If your mortgage loan amount is larger than the certified indebtedness amount shown on your MCC, you can figure the credit on only part of the interest you paid. Amend a 2013 tax return To find the amount to enter on line 1, multiply the total interest you paid during the year on your mortgage by the following fraction. Amend a 2013 tax return Certified indebtedness amount on your MCC Original amount of your mortgage   The fraction will not change as long as you are entitled to take the mortgage interest credit. Amend a 2013 tax return Example. Amend a 2013 tax return Emily bought a home this year. Amend a 2013 tax return Her mortgage loan is $125,000. Amend a 2013 tax return The certified indebtedness amount on her MCC is $100,000. Amend a 2013 tax return She paid $7,500 interest this year. Amend a 2013 tax return Emily figures the interest to enter on Form 8396, line 1, as follows:   $100,000 = 80% (. Amend a 2013 tax return 80)       $125,000       $7,500 x . Amend a 2013 tax return 80 = $6,000   Emily enters $6,000 on Form 8396, line 1. Amend a 2013 tax return In each later year, she will figure her credit using only 80% of the interest she pays for that year. Amend a 2013 tax return Limits Two limits may apply to your credit. Amend a 2013 tax return A limit based on the credit rate, and A limit based on your tax. Amend a 2013 tax return Limit based on credit rate. Amend a 2013 tax return   If the certificate credit rate is higher than 20%, the credit you are allowed cannot be more than $2,000. Amend a 2013 tax return Limit based on tax. Amend a 2013 tax return   After applying the limit based on the credit rate, your credit generally cannot be more than your tax liability. Amend a 2013 tax return See the Credit Limit Worksheet in the Form 8396 instructions to calculate the limit based on tax. Amend a 2013 tax return Dividing the Credit If two or more persons (other than a married couple filing a joint return) hold an interest in the home to which the MCC relates, the credit must be divided based on the interest held by each person. Amend a 2013 tax return Example. Amend a 2013 tax return John and his brother, George, were issued an MCC. Amend a 2013 tax return They used it to get a mortgage on their main home. Amend a 2013 tax return John has a 60% ownership interest in the home, and George has a 40% ownership interest in the home. Amend a 2013 tax return John paid $5,400 mortgage interest this year and George paid $3,600. Amend a 2013 tax return The MCC shows a credit rate of 25% and a certified indebtedness amount of $130,000. Amend a 2013 tax return The loan amount (mortgage) on their home is $120,000. Amend a 2013 tax return The credit is limited to $2,000 because the credit rate is more than 20%. Amend a 2013 tax return John figures the credit by multiplying the mortgage interest he paid this year ($5,400) by the certificate credit rate (25%) for a total of $1,350. Amend a 2013 tax return His credit is limited to $1,200 ($2,000 × 60%). Amend a 2013 tax return George figures the credit by multiplying the mortgage interest he paid this year ($3,600) by the certificate credit rate (25%) for a total of $900. Amend a 2013 tax return His credit is limited to $800 ($2,000 × 40%). Amend a 2013 tax return Carryforward If your allowable credit is reduced because of the limit based on your tax, you can carry forward the unused portion of the credit to the next 3 years or until used, whichever comes first. Amend a 2013 tax return Example. Amend a 2013 tax return You receive a mortgage credit certificate from State X. Amend a 2013 tax return This year, your regular tax liability is $1,100, you owe no alternative minimum tax, and your mortgage interest credit is $1,700. Amend a 2013 tax return You claim no other credits. Amend a 2013 tax return Your unused mortgage interest credit for this year is $600 ($1,700 − $1,100). Amend a 2013 tax return You can carry forward this amount to the next 3 years or until used, whichever comes first. Amend a 2013 tax return Credit rate more than 20%. Amend a 2013 tax return   If you are subject to the $2,000 limit because your certificate credit rate is more than 20%, you cannot carry forward any amount more than $2,000 (or your share of the $2,000 if you must divide the credit). Amend a 2013 tax return Example. Amend a 2013 tax return In the earlier example under Dividing the Credit , John and George used the entire $2,000 credit. Amend a 2013 tax return The excess   John $1,350 − $1,200 = $150     George $900 − $800 = $100   $150 for John ($1,350 − $1,200) and $100 for George ($900 − $800) cannot be carried forward to future years, despite the respective tax liabilities for John and George. Amend a 2013 tax return Refinancing If you refinance your original mortgage loan on which you had been given an MCC, you must get a new MCC to be able to claim the credit on the new loan. Amend a 2013 tax return The amount of credit you can claim on the new loan may change. Amend a 2013 tax return Table 2 below summarizes how to figure your credit if you refinance your original mortgage loan. Amend a 2013 tax return Table 2. Amend a 2013 tax return Effect of Refinancing on Your Credit IF you get a new (reissued) MCC and the amount of your new mortgage is . Amend a 2013 tax return . Amend a 2013 tax return . Amend a 2013 tax return THEN the interest you claim on Form 8396, line 1, is* . Amend a 2013 tax return . Amend a 2013 tax return . Amend a 2013 tax return smaller than or equal to the certified indebtedness amount on the new MCC all the interest paid during the year on your new mortgage. Amend a 2013 tax return larger than the certified indebtedness amount on the new MCC interest paid during the year on your new mortgage multiplied by the following fraction. Amend a 2013 tax return         certified indebtedness  amount on your new MCC       original amount of your  mortgage   *The credit using the new MCC cannot be more than the credit using the old MCC. Amend a 2013 tax return  See New MCC cannot increase your credit above. Amend a 2013 tax return An issuer may reissue an MCC after you refinance your mortgage. Amend a 2013 tax return If you did not get a new MCC, you may want to contact the state or local housing finance agency that issued your original MCC for information about whether you can get a reissued MCC. Amend a 2013 tax return Year of refinancing. Amend a 2013 tax return   In the year of refinancing, add the applicable amount of interest paid on the old mortgage and the applicable amount of interest paid on the new mortgage, and enter the total on Form 8396, line 1. Amend a 2013 tax return   If your new MCC has a credit rate different from the rate on the old MCC, you must attach a statement to Form 8396. Amend a 2013 tax return The statement must show the calculation for lines 1, 2, and 3 for the part of the year when the old MCC was in effect. Amend a 2013 tax return It must show a separate calculation for the part of the year when the new MCC was in effect. Amend a 2013 tax return Combine the amounts from both calculations for line 3, enter the total on line 3 of the form, and write “See attached” on the dotted line next to line 2. Amend a 2013 tax return New MCC cannot increase your credit. Amend a 2013 tax return   The credit that you claim with your new MCC cannot be more than the credit that you could have claimed with your old MCC. Amend a 2013 tax return   In most cases, the agency that issues your new MCC will make sure that it does not increase your credit. Amend a 2013 tax return However, if either your old loan or your new loan has a variable (adjustable) interest rate, you will need to check this yourself. Amend a 2013 tax return In that case, you will need to know the amount of the credit you could have claimed using the old MCC. Amend a 2013 tax return   There are two methods for figuring the credit you could have claimed. Amend a 2013 tax return Under one method, you figure the actual credit that would have been allowed. Amend a 2013 tax return This means you use the credit rate on the old MCC and the interest you would have paid on the old loan. Amend a 2013 tax return   If your old loan was a variable rate mortgage, you can use another method to determine the credit that you could have claimed. Amend a 2013 tax return Under this method, you figure the credit using a payment schedule of a hypothetical self-amortizing mortgage with level payments projected to the final maturity date of the old mortgage. Amend a 2013 tax return The interest rate of the hypothetical mortgage is the annual percentage rate (APR) of the new mortgage for purposes of the Federal Truth in Lending Act. Amend a 2013 tax return The principal of the hypothetical mortgage is the remaining outstanding balance of the certified mortgage indebtedness shown on the old MCC. Amend a 2013 tax return    You must choose one method and use it consistently beginning with the first tax year for which you claim the credit based on the new MCC. Amend a 2013 tax return    As part of your tax records, you should keep your old MCC and the schedule of payments for your old mortgage. Amend a 2013 tax return Basis Basis is your starting point for figuring a gain or loss if you later sell your home, or for figuring depreciation if you later use part of your home for business purposes or for rent. Amend a 2013 tax return While you own your home, you may add certain items to your basis. Amend a 2013 tax return You may subtract certain other items from your basis. Amend a 2013 tax return These items are called adjustments to basis and are explained later under Adjusted Basis . Amend a 2013 tax return It is important that you understand these terms when you first acquire your home because you must keep track of your basis and adjusted basis during the period you own your home. Amend a 2013 tax return You also must keep records of the events that affect basis or adjusted basis. Amend a 2013 tax return See Keeping Records , below. Amend a 2013 tax return Figuring Your Basis How you figure your basis depends on how you acquire your home. Amend a 2013 tax return If you buy or build your home, your cost is your basis. Amend a 2013 tax return If you receive your home as a gift, your basis is usually the same as the adjusted basis of the person who gave you the property. Amend a 2013 tax return If you inherit your home from a decedent, different rules apply depending on the date of the decedent's death. Amend a 2013 tax return Each of these topics is discussed later. Amend a 2013 tax return Property transferred from a spouse. Amend a 2013 tax return   If your home is transferred to you from your spouse, or from your former spouse as a result of a divorce, your basis is the same as your spouse's (or former spouse's) adjusted basis just before the transfer. Amend a 2013 tax return Publication 504, Divorced or Separated Individuals, fully discusses transfers between spouses. Amend a 2013 tax return Cost as Basis The cost of your home, whether you purchased it or constructed it, is the amount you paid for it, including any debt you assumed. Amend a 2013 tax return The cost of your home includes most settlement or closing costs you paid when you bought the home. Amend a 2013 tax return If you built your home, your cost includes most closing costs paid when you bought the land or settled on your mortgage. Amend a 2013 tax return See Settlement or closing costs , later. Amend a 2013 tax return If you elect to deduct the sales taxes on the purchase or construction of your home as an itemized deduction on Schedule A (Form 1040), you cannot include the sales taxes as part of your cost basis in the home. Amend a 2013 tax return Purchase. Amend a 2013 tax return   The basis of a home you bought is the amount you paid for it. Amend a 2013 tax return This usually includes your down payment and any debt you assumed. Amend a 2013 tax return The basis of a cooperative apartment is the amount you paid for your shares in the corporation that owns or controls the property. Amend a 2013 tax return This amount includes any purchase commissions or other costs of acquiring the shares. Amend a 2013 tax return Construction. Amend a 2013 tax return   If you contracted to have your home built on land that you own, your basis in the home is your basis in the land plus the amount you paid to have the home built. Amend a 2013 tax return This includes the cost of labor and materials, the amount you paid the contractor, any architect's fees, building permit charges, utility meter and connection charges, and legal fees that are directly connected with building your home. Amend a 2013 tax return If you built all or part of your home yourself, your basis is the total amount it cost you to build it. Amend a 2013 tax return You cannot include in basis the value of your own labor or any other labor for which you did not pay. Amend a 2013 tax return Real estate taxes. Amend a 2013 tax return   Real estate taxes are usually divided so that you and the seller each pay taxes for the part of the property tax year that each owned the home. Amend a 2013 tax return See the earlier discussion of Real estate taxes paid at settlement or closing , under Real Estate Taxes, earlier, to figure the real estate taxes you paid or are considered to have paid. Amend a 2013 tax return   If you pay any part of the seller's share of the real estate taxes (the taxes up to the date of sale), and the seller did not reimburse you, add those taxes to your basis in the home. Amend a 2013 tax return You cannot deduct them as taxes paid. Amend a 2013 tax return   If the seller paid any of your share of the real estate taxes (the taxes beginning with the date of sale), you can still deduct those taxes. Amend a 2013 tax return Do not include those taxes in your basis. Amend a 2013 tax return If you did not reimburse the seller, you must reduce your basis by the amount of those taxes. Amend a 2013 tax return Example 1. Amend a 2013 tax return You bought your home on September 1. Amend a 2013 tax return The property tax year in your area is the calendar year, and the tax is due on August 15. Amend a 2013 tax return The real estate taxes on the home you bought were $1,275 for the year and had been paid by the seller on August 15. Amend a 2013 tax return You did not reimburse the seller for your share of the real estate taxes from September 1 through December 31. Amend a 2013 tax return You must reduce the basis of your home by the $426 [(122 ÷ 365) × $1,275] the seller paid for you. Amend a 2013 tax return You can deduct your $426 share of real estate taxes on your return for the year you purchased your home. Amend a 2013 tax return Example 2. Amend a 2013 tax return You bought your home on May 3, 2013. Amend a 2013 tax return The property tax year in your area is the calendar year. Amend a 2013 tax return The taxes for the previous year are assessed on January 2 and are due on May 31 and November 30. Amend a 2013 tax return Under state law, the taxes become a lien on May 31. Amend a 2013 tax return You agreed to pay all taxes due after the date of sale. Amend a 2013 tax return The taxes due in 2013 for 2012 were $1,375. Amend a 2013 tax return The taxes due in 2014 for 2013 will be $1,425. Amend a 2013 tax return You cannot deduct any of the taxes paid in 2013 because they relate to the 2012 property tax year and you did not own the home until 2013. Amend a 2013 tax return Instead, you add the $1,375 to the cost (basis) of your home. Amend a 2013 tax return You owned the home in 2013 for 243 days (May 3 to December 31), so you can take a tax deduction on your 2014 return of $949 [(243 ÷ 365) × $1,425] paid in 2014 for 2013. Amend a 2013 tax return You add the remaining $476 ($1,425 − $949) of taxes paid in 2014 to the cost (basis) of your home. Amend a 2013 tax return Settlement or closing costs. Amend a 2013 tax return   If you bought your home, you probably paid settlement or closing costs in addition to the contract price. Amend a 2013 tax return These costs are divided between you and the seller according to the sales contract, local custom, or understanding of the parties. Amend a 2013 tax return If you built your home, you probably paid these costs when you bought the land or settled on your mortgage. Amend a 2013 tax return   The only settlement or closing costs you can deduct are home mortgage interest and certain real estate taxes. Amend a 2013 tax return You deduct them in the year you buy your home if you itemize your deductions. Amend a 2013 tax return You can add certain other settlement or closing costs to the basis of your home. Amend a 2013 tax return Items added to basis. Amend a 2013 tax return   You can include in your basis the settlement fees and closing costs you paid for buying your home. Amend a 2013 tax return A fee is for buying the home if you would have had to pay it even if you paid cash for the home. Amend a 2013 tax return   The following are some of the settlement fees and closing costs that you can include in the original basis of your home. Amend a 2013 tax return Abstract fees (abstract of title fees). Amend a 2013 tax return Charges for installing utility services. Amend a 2013 tax return Legal fees (including fees for the title search and preparation of the sales contract and deed). Amend a 2013 tax return Recording fees. Amend a 2013 tax return Surveys. Amend a 2013 tax return Transfer or stamp taxes. Amend a 2013 tax return Owner's title insurance. Amend a 2013 tax return Any amount the seller owes that you agree to pay, such as back taxes or interest, recording or mortgage fees, cost for improvements or repairs, and sales commissions. Amend a 2013 tax return   If the seller actually paid for any item for which you are liable and for which you can take a deduction (such as your share of the real estate taxes for the year of sale), you must reduce your basis by that amount unless you are charged for it in the settlement. Amend a 2013 tax return Items not added to basis and not deductible. Amend a 2013 tax return   Here are some settlement and closing costs that you cannot deduct or add to your basis. Amend a 2013 tax return Fire insurance premiums. Amend a 2013 tax return Charges for using utilities or other services related to occupancy of the home before closing. Amend a 2013 tax return Rent for occupying the home before closing. Amend a 2013 tax return Charges connected with getting or refinancing a mortgage loan, such as: Loan assumption fees, Cost of a credit report, and Fee for an appraisal required by a lender. Amend a 2013 tax return Points paid by seller. Amend a 2013 tax return   If you bought your home after April 3, 1994, you must reduce your basis by any points paid for your mortgage by the person who sold you your home. Amend a 2013 tax return   If you bought your home after 1990 but before April 4, 1994, you must reduce your basis by seller-paid points only if you deducted them. Amend a 2013 tax return See Points , earlier, for the rules on deducting points. Amend a 2013 tax return Gift To figure the basis of property you receive as a gift, you must know its adjusted basis (defined later) to the donor just before it was given to you, its fair market value (FMV) at the time it was given to you, and any gift tax paid on it. Amend a 2013 tax return Fair market value. Amend a 2013 tax return   Fair market value (FMV) is the price at which property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or sell and who both have a reasonable knowledge of all the necessary facts. Amend a 2013 tax return Donor's adjusted basis is more than FMV. Amend a 2013 tax return   If someone gave you your home and the donor's adjusted basis, when it was given to you, was more than the FMV, your basis at the time of receipt is the same as the donor's adjusted basis. Amend a 2013 tax return Disposition basis. Amend a 2013 tax return   If the donor's adjusted basis at the time of the gift is more than the FMV, your basis (plus or minus any required adjustments, see Adjusted Basis , later) when you dispose of the property will depend on whether you have a gain or a loss. Amend a 2013 tax return Your basis for figuring a gain is the same as the donor's adjusted basis. Amend a 2013 tax return Your basis for figuring a loss is the FMV when you received the gift. Amend a 2013 tax return If you use the donor's adjusted basis to figure a gain and it results in a loss, then you must use the FMV (at the time of the gift) to refigure the loss. Amend a 2013 tax return However, if using the FMV results in a gain, then you neither have a gain nor a loss. Amend a 2013 tax return Example 1. Amend a 2013 tax return Andrew received a house as a gift from Ishmael (the donor). Amend a 2013 tax return At the time of the gift, the home had an FMV of $80,000. Amend a 2013 tax return Ishmael's adjusted basis was $100,000. Amend a 2013 tax return After he received the house, no events occurred to increase or decrease the basis. Amend a 2013 tax return If Andrew sells the house for $120,000, he will have a $20,000 gain because he must use the donor's adjusted basis ($100,000) at the time of the gift as his basis to figure the gain. Amend a 2013 tax return Example 2. Amend a 2013 tax return Same facts as Example 1 , except this time Andrew sells the house for $70,000. Amend a 2013 tax return He will have a loss of $10,000 because he must use the FMV ($80,000) at the time of the gift as his basis to figure the loss. Amend a 2013 tax return Example 3. Amend a 2013 tax return Same facts as Example 1 , except this time Andrew sells the house for $90,000. Amend a 2013 tax return Initially, he figures the gain using Ishmael's adjusted basis ($100,000), which results in a loss of $10,000. Amend a 2013 tax return Since it is a loss, Andrew must now recalculate the loss using the FMV ($80,000), which results in a gain of $10,000. Amend a 2013 tax return So in this situation, Andrew will neither have a gain nor a loss. Amend a 2013 tax return Donor's adjusted basis equal to or less than the FMV. Amend a 2013 tax return   If someone gave you your home after 1976 and the donor's adjusted basis, when it was given to you, was equal to or less than the FMV, your basis at the time of receipt is the same as the donor's adjusted basis, plus the part of any federal gift tax paid that is due to the net increase in value of the home. Amend a 2013 tax return Part of federal gift tax due to net increase in value. Amend a 2013 tax return   Figure the part of the federal gift tax paid that is due to the net increase in value of the home by multiplying the total federal gift tax paid by a fraction. Amend a 2013 tax return The numerator (top part) of the fraction is the net increase in the value of the home, and the denominator (bottom part) is the value of the home for gift tax purposes after reduction for any annual exclusion and marital or charitable deduction that applies to the gift. Amend a 2013 tax return The net increase in the value of the home is its FMV minus the adjusted basis of the donor. Amend a 2013 tax return Publication 551 gives more information, including examples, on figuring your basis when you receive property as a gift. Amend a 2013 tax return Inheritance Your basis in a home you inherited is generally the fair market value of the home on the date of the decedent's death or on the alternative valuation date if the personal representative for the estate chooses to use alternative valuation. Amend a 2013 tax return If an estate tax return was filed, your basis is generally the value of the home listed on the estate tax return. Amend a 2013 tax return If an estate tax return was not filed, your basis is the appraised value of the home at the decedent's date of death for state inheritance or transmission taxes. Amend a 2013 tax return Publication 551 and Publication 559, Survivors, Executors, and Administrators, have more information on the basis of inherited property. Amend a 2013 tax return If you inherited your home from someone who died in 2010, and the executor of the decedent's estate made the election to file Form 8939, Allocation of Increase in Basis for Property Acquired From a Decedent, refer to the information provided by the executor or see Publication 4895, Tax Treatment of Property Acquired From a Decedent Dying in 2010. Amend a 2013 tax return Adjusted Basis While you own your home, various events may take place that can change the original basis of your home. Amend a 2013 tax return These events can increase or decrease your original basis. Amend a 2013 tax return The result is called adjusted basis. Amend a 2013 tax return See Table 3, on this page, for a list of some of the items that can adjust your basis. Amend a 2013 tax return Table 3. Amend a 2013 tax return Adjusted Basis This table lists examples of some items that generally will increase or decrease your basis in your home. Amend a 2013 tax return It is not intended to be all-inclusive. Amend a 2013 tax return Increases to Basis Decreases to Basis Improvements: Putting an addition on your home Replacing an entire roof Paving your driveway Installing central air conditioning Rewiring your home Assessments for local improvements (see Assessments for local benefits , under What You Can and Cannot Deduct, earlier) Amounts spent to restore damaged property Insurance or other reimbursement for casualty losses Deductible casualty loss not covered by insurance Payments received for easement or right-of-way granted Depreciation allowed or allowable if home is used for business or rental purposes Value of subsidy for energy conservation measure excluded from income Improvements. Amend a 2013 tax return   An improvement materially adds to the value of your home, considerably prolongs its useful life, or adapts it to new uses. Amend a 2013 tax return You must add the cost of any improvements to the basis of your home. Amend a 2013 tax return You cannot deduct these costs. Amend a 2013 tax return   Improvements include putting a recreation room in your unfinished basement, adding another bathroom or bedroom, putting up a fence, putting in new plumbing or wiring, installing a new roof, and paving your driveway. Amend a 2013 tax return Amount added to basis. Amend a 2013 tax return   The amount you add to your basis for improvements is your actual cost. Amend a 2013 tax return This includes all costs for material and labor, except your own labor, and all expenses related to the improvement. Amend a 2013 tax return For example, if you had your lot surveyed to put up a fence, the cost of the survey is a part of the cost of the fence. Amend a 2013 tax return   You also must add to your basis state and local assessments for improvements such as streets and sidewalks if they increase the value of the property. Amend a 2013 tax return These assessments are discussed earlier under Real Estate Taxes . Amend a 2013 tax return Improvements no longer part of home. Amend a 2013 tax return    Your home's adjusted basis does not include the cost of any improvements that are replaced and are no longer part of the home. Amend a 2013 tax return Example. Amend a 2013 tax return You put wall-to-wall carpeting in your home 15 years ago. Amend a 2013 tax return Later, you replaced that carpeting with new wall-to-wall carpeting. Amend a 2013 tax return The cost of the old carpeting you replaced is no longer part of your home's adjusted basis. Amend a 2013 tax return Repairs versus improvements. Amend a 2013 tax return   A repair keeps your home in an ordinary, efficient operating condition. Amend a 2013 tax return It does not add to the value of your home or prolong its life. Amend a 2013 tax return Repairs include repainting your home inside or outside, fixing your gutters or floors, fixing leaks or plastering, and replacing broken window panes. Amend a 2013 tax return You cannot deduct repair costs and generally cannot add them to the basis of your home. Amend a 2013 tax return   However, repairs that are done as part of an extensive remodeling or restoration of your home are considered improvements. Amend a 2013 tax return You add them to the basis of your home. Amend a 2013 tax return Records to keep. Amend a 2013 tax return   You can use Table 4 (at the end of the publication) as a guide to help you keep track of improvements to your home. Amend a 2013 tax return Also see Keeping Records , below. Amend a 2013 tax return Energy conservation subsidy. Amend a 2013 tax return   If a public utility gives you (directly or indirectly) a subsidy for the purchase or installation of an energy conservation measure for your home, do not include the value of that subsidy in your income. Amend a 2013 tax return You must reduce the basis of your home by that value. Amend a 2013 tax return   An energy conservation measure is an installation or modification primarily designed to reduce consumption of electricity or natural gas or to improve the management of energy demand. Amend a 2013 tax return Keeping Records Keeping full and accurate records is vital to properly report your income and expenses, to support your deductions and credits, and to know the basis or adjusted basis of your home. Amend a 2013 tax return These records include your purchase contract and settlement papers if you bought the property, or other objective evidence if you acquired it by gift, inheritance, or similar means. Amend a 2013 tax return You should keep any receipts, canceled checks, and similar evidence for improvements or other additions to the basis. Amend a 2013 tax return In addition, you should keep track of any decreases to the basis such as those listed in Table 3, earlier. Amend a 2013 tax return How to keep records. Amend a 2013 tax return   How you keep records is up to you, but they must be clear and accurate and must be available to the IRS. Amend a 2013 tax return How long to keep records. Amend a 2013 tax return   You must keep your records for as long as they are important for meeting any provision of the federal tax law. Amend a 2013 tax return   Keep records that support an item of income, a deduction, or a credit appearing on a return until the period of limitations for the return runs out. Amend a 2013 tax return (A period of limitations is the period of time after which no legal action can be brought. Amend a 2013 tax return ) For assessment of tax you owe, this is generally 3 years from the date you filed the return. Amend a 2013 tax return For filing a claim for credit or refund, this is generally 3 years from the date you filed the original return, or 2 years from the date you paid the tax, whichever is later. Amend a 2013 tax return Returns filed before the due date are treated as filed on the due date. Amend a 2013 tax return   You may need to keep records relating to the basis of property (discussed earlier) for longer than the period of limitations. Amend a 2013 tax return Keep those records as long as they are important in figuring the basis of the original or replacement property. Amend a 2013 tax return Generally, this means for as long as you own the property and, after you dispose of it, for the period of limitations that applies to you. Amend a 2013 tax return Table 4. Amend a 2013 tax return Record of Home Improvements Keep this for your records. Amend a 2013 tax return Also, keep receipts or other proof of improvements. Amend a 2013 tax return Remove from this record any improvements that are no longer part of your main home. Amend a 2013 tax return For example, if you put wall-to-wall carpeting in your home and later replace it with new wall-to-wall carpeting, remove the cost of the first carpeting. Amend a 2013 tax return (a) Type of Improvement (b) Date (c) Amount   (a) Type of Improvement (b) Date (c) Amount Additions:       Heating & Air  Conditioning:     Bedroom       Heating system     Bathroom       Central air conditioning     Deck       Furnace     Garage       Duct work     Porch       Central humidifier     Patio       Filtration system     Storage shed       Other     Fireplace       Electrical:     Other           Lawn & Grounds:       Lighting fixtures           Wiring upgrades     Landscaping       Other     Driveway       Plumbing:     Walkway           Fences       Water heater     Retaining wall       Soft water system     Sprinkler system       Filtration system     Swimming pool       Other     Exterior lighting       Insulation:     Other           Communications:       Attic           Walls     Satellite dish       Floors     Intercom       Pipes and duct work     Security system       Other     Other             Miscellaneous:       Interior  Improvements:     Storm windows and doors       Built-in appliances     Roof       Kitchen modernization     Central vacuum       Bathroom modernization     Other       Flooring             Wall-to-wall carpeting             Other     How To