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Can I File My 2011 Taxes In 2013

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Can I File My 2011 Taxes In 2013

Can i file my 2011 taxes in 2013 Publication 537 - Main Content Table of Contents What Is an Installment Sale?Special rule. Can i file my 2011 taxes in 2013 General RulesFiguring Installment Sale Income Reporting Installment Sale Income Other RulesElecting Out of the Installment Method Payments Received or Considered Received Escrow Account Depreciation Recapture Income Sale to a Related Person Like-Kind Exchange Contingent Payment Sale Single Sale of Several Assets Sale of a Business Unstated Interest and Original Issue Discount (OID) Disposition of an Installment Obligation Repossession Interest on Deferred Tax Reporting an Installment SaleRelated person. Can i file my 2011 taxes in 2013 Several assets. Can i file my 2011 taxes in 2013 Special situations. Can i file my 2011 taxes in 2013 Schedule D (Form 1040). Can i file my 2011 taxes in 2013 Form 4797. Can i file my 2011 taxes in 2013 How To Get Tax Help What Is an Installment Sale? An installment sale is a sale of property where you receive at least one payment after the tax year of the sale. Can i file my 2011 taxes in 2013 The rules for installment sales do not apply if you elect not to use the installment method (see Electing Out of the Installment Method under Other Rules, later) or the transaction is one for which the installment method may not apply. Can i file my 2011 taxes in 2013 The installment sales method cannot be used for the following. Can i file my 2011 taxes in 2013 Sale of inventory. Can i file my 2011 taxes in 2013   The regular sale of inventory of personal property does not qualify as an installment sale even if you receive a payment after the year of sale. Can i file my 2011 taxes in 2013 See Sale of a Business under Other Rules, later. Can i file my 2011 taxes in 2013 Dealer sales. Can i file my 2011 taxes in 2013   Sales of personal property by a person who regularly sells or otherwise disposes of the same type of personal property on the installment plan are not installment sales. Can i file my 2011 taxes in 2013 This rule also applies to real property held for sale to customers in the ordinary course of a trade or business. Can i file my 2011 taxes in 2013 However, the rule does not apply to an installment sale of property used or produced in farming. Can i file my 2011 taxes in 2013 Special rule. Can i file my 2011 taxes in 2013   Dealers of time-shares and residential lots can treat certain sales as installment sales and report them under the installment method if they elect to pay a special interest charge. Can i file my 2011 taxes in 2013 For more information, see section 453(l). Can i file my 2011 taxes in 2013 Stock or securities. Can i file my 2011 taxes in 2013   You cannot use the installment method to report gain from the sale of stock or securities traded on an established securities market. Can i file my 2011 taxes in 2013 You must report the entire gain on the sale in the year in which the trade date falls. Can i file my 2011 taxes in 2013 Installment obligation. Can i file my 2011 taxes in 2013   The buyer's obligation to make future payments to you can be in the form of a deed of trust, note, land contract, mortgage, or other evidence of the buyer's debt to you. Can i file my 2011 taxes in 2013 General Rules If a sale qualifies as an installment sale, the gain must be reported under the installment method unless you elect out of using the installment method. Can i file my 2011 taxes in 2013 See Electing Out of the Installment Method under Other Rules, later, for information on recognizing the entire gain in the year of sale. Can i file my 2011 taxes in 2013 Sale at a loss. Can i file my 2011 taxes in 2013   If your sale results in a loss, you cannot use the installment method. Can i file my 2011 taxes in 2013 If the loss is on an installment sale of business or investment property, you can deduct it only in the tax year of sale. Can i file my 2011 taxes in 2013 Unstated interest. Can i file my 2011 taxes in 2013   If your sale calls for payments in a later year and the sales contract provides for little or no interest, you may have to figure unstated interest, even if you have a loss. Can i file my 2011 taxes in 2013 See Unstated Interest and Original Issue Discount (OID) under Other Rules, later. Can i file my 2011 taxes in 2013 Figuring Installment Sale Income You can use the following discussions or Form 6252 to help you determine gross profit, contract price, gross profit percentage, and installment sale income. Can i file my 2011 taxes in 2013 Each payment on an installment sale usually consists of the following three parts. Can i file my 2011 taxes in 2013 Interest income. Can i file my 2011 taxes in 2013 Return of your adjusted basis in the property. Can i file my 2011 taxes in 2013 Gain on the sale. Can i file my 2011 taxes in 2013 In each year you receive a payment, you must include in income both the interest part and the part that is your gain on the sale. Can i file my 2011 taxes in 2013 You do not include in income the part that is the return of your basis in the property. Can i file my 2011 taxes in 2013 Basis is the amount of your investment in the property for installment sale purposes. Can i file my 2011 taxes in 2013 Interest Income You must report interest as ordinary income. Can i file my 2011 taxes in 2013 Interest is generally not included in a down payment. Can i file my 2011 taxes in 2013 However, you may have to treat part of each later payment as interest, even if it is not called interest in your agreement with the buyer. Can i file my 2011 taxes in 2013 Interest provided in the agreement is called stated interest. Can i file my 2011 taxes in 2013 If the agreement does not provide for enough stated interest, there may be unstated interest or original issue discount. Can i file my 2011 taxes in 2013 See Unstated Interest and Original Issue Discount (OID) under Other Rules, later. Can i file my 2011 taxes in 2013 Adjusted Basis and Installment Sale Income (Gain on Sale) After you have determined how much of each payment to treat as interest, you treat the rest of each payment as if it were made up of two parts. Can i file my 2011 taxes in 2013 A tax-free return of your adjusted basis in the property, and Your gain (referred to as installment sale income on Form 6252). Can i file my 2011 taxes in 2013 Figuring adjusted basis for installment sale purposes. Can i file my 2011 taxes in 2013   You can use Worksheet A to figure your adjusted basis in the property for installment sale purposes. Can i file my 2011 taxes in 2013 When you have completed the worksheet, you will also have determined the gross profit percentage necessary to figure your installment sale income (gain) for this year. Can i file my 2011 taxes in 2013 Worksheet A. Can i file my 2011 taxes in 2013 Figuring Adjusted Basis and Gross Profit Percentage 1. Can i file my 2011 taxes in 2013 Enter the selling price for the property   2. Can i file my 2011 taxes in 2013 Enter your adjusted basis for the property     3. Can i file my 2011 taxes in 2013 Enter your selling expenses     4. Can i file my 2011 taxes in 2013 Enter any depreciation recapture     5. Can i file my 2011 taxes in 2013 Add lines 2, 3, and 4. Can i file my 2011 taxes in 2013  This is your adjusted basis for installment sale purposes   6. Can i file my 2011 taxes in 2013 Subtract line 5 from line 1. Can i file my 2011 taxes in 2013 If zero or less, enter -0-. Can i file my 2011 taxes in 2013  This is your gross profit     If the amount entered on line 6 is zero, stop here. Can i file my 2011 taxes in 2013 You cannot use the installment method. Can i file my 2011 taxes in 2013   7. Can i file my 2011 taxes in 2013 Enter the contract price for the property   8. Can i file my 2011 taxes in 2013 Divide line 6 by line 7. Can i file my 2011 taxes in 2013 This is your gross profit percentage   Selling price. Can i file my 2011 taxes in 2013   The selling price is the total cost of the property to the buyer and includes any of the following. Can i file my 2011 taxes in 2013 Any money you are to receive. Can i file my 2011 taxes in 2013 The fair market value (FMV) of any property you are to receive (FMV is discussed in Property Used As a Payment under Other Rules, later). Can i file my 2011 taxes in 2013 Any existing mortgage or other debt the buyer pays, assumes, or takes (a note, mortgage, or any other liability, such as a lien, accrued interest, or taxes you owe on the property). Can i file my 2011 taxes in 2013 Any of your selling expenses the buyer pays. Can i file my 2011 taxes in 2013   Do not include stated interest, unstated interest, any amount recomputed or recharacterized as interest, or original issue discount. Can i file my 2011 taxes in 2013 Adjusted basis for installment sale purposes. Can i file my 2011 taxes in 2013   Your adjusted basis is the total of the following three items. Can i file my 2011 taxes in 2013 Adjusted basis. Can i file my 2011 taxes in 2013 Selling expenses. Can i file my 2011 taxes in 2013 Depreciation recapture. Can i file my 2011 taxes in 2013 Adjusted basis. Can i file my 2011 taxes in 2013   Basis is your investment in the property for installment sale purposes. Can i file my 2011 taxes in 2013 The way you figure basis depends on how you acquire the property. Can i file my 2011 taxes in 2013 The basis of property you buy is generally its cost. Can i file my 2011 taxes in 2013 The basis of property you inherit, receive as a gift, build yourself, or receive in a tax-free exchange is figured differently. Can i file my 2011 taxes in 2013   While you own property, various events may change your original basis. Can i file my 2011 taxes in 2013 Some events, such as adding rooms or making permanent improvements, increase basis. Can i file my 2011 taxes in 2013 Others, such as deductible casualty losses or depreciation previously allowed or allowable, decrease basis. Can i file my 2011 taxes in 2013 The result is adjusted basis. Can i file my 2011 taxes in 2013   For more information on how to figure basis and adjusted basis, see Publication 551. Can i file my 2011 taxes in 2013 For more information regarding your basis in property you inherited from someone who died in 2010 and whose executor filed Form 8939, Allocation of Increase In Basis for Property Acquired From a Decedent, see Publication 4895. Can i file my 2011 taxes in 2013 Selling expenses. Can i file my 2011 taxes in 2013   Selling expenses relate to the sale of the property. Can i file my 2011 taxes in 2013 They include commissions, attorney fees, and any other expenses paid on the sale. Can i file my 2011 taxes in 2013 Selling expenses are added to the basis of the sold property. Can i file my 2011 taxes in 2013 Depreciation recapture. Can i file my 2011 taxes in 2013   If the property you sold was depreciable property, you may need to recapture part of the gain on the sale as ordinary income. Can i file my 2011 taxes in 2013 See Depreciation Recapture Income under Other Rules, later. Can i file my 2011 taxes in 2013 Gross profit. Can i file my 2011 taxes in 2013   Gross profit is the total gain you report on the installment method. Can i file my 2011 taxes in 2013   To figure your gross profit, subtract your adjusted basis for installment sale purposes from the selling price. Can i file my 2011 taxes in 2013 If the property you sold was your home, subtract from the gross profit any gain you can exclude. Can i file my 2011 taxes in 2013 See Sale of Your Home , later, under Reporting Installment Sale Income. Can i file my 2011 taxes in 2013 Contract price. Can i file my 2011 taxes in 2013   Contract price equals: The selling price, minus The mortgages, debts, and other liabilities assumed or taken by the buyer, plus The amount by which the mortgages, debts, and other liabilities assumed or taken by the buyer exceed your adjusted basis for installment sale purposes. Can i file my 2011 taxes in 2013 Gross profit percentage. Can i file my 2011 taxes in 2013   A certain percentage of each payment (after subtracting interest) is reported as installment sale income. Can i file my 2011 taxes in 2013 This percentage is called the gross profit percentage and is figured by dividing your gross profit from the sale by the contract price. Can i file my 2011 taxes in 2013   The gross profit percentage generally remains the same for each payment you receive. Can i file my 2011 taxes in 2013 However, see the Example under Selling Price Reduced, later, for a situation where the gross profit percentage changes. Can i file my 2011 taxes in 2013 Example. Can i file my 2011 taxes in 2013 You sell property at a contract price of $6,000 and your gross profit is $1,500. Can i file my 2011 taxes in 2013 Your gross profit percentage is 25% ($1,500 ÷ $6,000). Can i file my 2011 taxes in 2013 After subtracting interest, you report 25% of each payment, including the down payment, as installment sale income from the sale for the tax year you receive the payment. Can i file my 2011 taxes in 2013 The remainder (balance) of each payment is the tax-free return of your adjusted basis. Can i file my 2011 taxes in 2013 Amount to report as installment sale income. Can i file my 2011 taxes in 2013   Multiply the payments you receive each year (less interest) by the gross profit percentage. Can i file my 2011 taxes in 2013 The result is your installment sale income for the tax year. Can i file my 2011 taxes in 2013 In certain circumstances, you may be treated as having received a payment, even though you received nothing directly. Can i file my 2011 taxes in 2013 A receipt of property or the assumption of a mortgage on the property sold may be treated as a payment. Can i file my 2011 taxes in 2013 For a detailed discussion, see Payments Received or Considered Received under Other Rules, later. Can i file my 2011 taxes in 2013 Selling Price Reduced If the selling price is reduced at a later date, the gross profit on the sale also will change. Can i file my 2011 taxes in 2013 You then must refigure the gross profit percentage for the remaining payments. Can i file my 2011 taxes in 2013 Refigure your gross profit using Worksheet B. Can i file my 2011 taxes in 2013 You will spread any remaining gain over future installments. Can i file my 2011 taxes in 2013 Worksheet B. Can i file my 2011 taxes in 2013 New Gross Profit Percentage — Selling Price Reduced 1. Can i file my 2011 taxes in 2013 Enter the reduced selling  price for the property   2. Can i file my 2011 taxes in 2013 Enter your adjusted  basis for the  property     3. Can i file my 2011 taxes in 2013 Enter your selling  expenses     4. Can i file my 2011 taxes in 2013 Enter any depreciation  recapture     5. Can i file my 2011 taxes in 2013 Add lines 2, 3, and 4. Can i file my 2011 taxes in 2013   6. Can i file my 2011 taxes in 2013 Subtract line 5 from line 1. Can i file my 2011 taxes in 2013  This is your adjusted  gross profit   7. Can i file my 2011 taxes in 2013 Enter any installment sale  income reported in  prior year(s)   8. Can i file my 2011 taxes in 2013 Subtract line 7 from line 6   9. Can i file my 2011 taxes in 2013 Future installments   10. Can i file my 2011 taxes in 2013 Divide line 8 by line 9. Can i file my 2011 taxes in 2013  This is your new gross profit percentage*   * Apply this percentage to all future payments to determine how much of each of those payments is installment sale income. Can i file my 2011 taxes in 2013 Example. Can i file my 2011 taxes in 2013 In 2011, you sold land with a basis of $40,000 for $100,000. Can i file my 2011 taxes in 2013 Your gross profit was $60,000. Can i file my 2011 taxes in 2013 You received a $20,000 down payment and the buyer's note for $80,000. Can i file my 2011 taxes in 2013 The note provides for four annual payments of $20,000 each, plus 8% interest, beginning in 2012. Can i file my 2011 taxes in 2013 Your gross profit percentage is 60%. Can i file my 2011 taxes in 2013 You reported a gain of $12,000 on each payment received in 2011 and 2012. Can i file my 2011 taxes in 2013 In 2013, you and the buyer agreed to reduce the purchase price to $85,000 and payments during 2013, 2014, and 2015 are reduced to $15,000 for each year. Can i file my 2011 taxes in 2013 The new gross profit percentage, 46. Can i file my 2011 taxes in 2013 67%, is figured on Example—Worksheet B. Can i file my 2011 taxes in 2013 You will report a gain of $7,000 (46. Can i file my 2011 taxes in 2013 67% of $15,000) on each of the $15,000 installments due in 2013, 2014, and 2015. Can i file my 2011 taxes in 2013 Example — Worksheet B. Can i file my 2011 taxes in 2013 New Gross Profit Percentage — Selling Price Reduced 1. Can i file my 2011 taxes in 2013 Enter the reduced selling  price for the property 85,000 2. Can i file my 2011 taxes in 2013 Enter your adjusted  basis for the  property 40,000   3. Can i file my 2011 taxes in 2013 Enter your selling  expenses -0-   4. Can i file my 2011 taxes in 2013 Enter any depreciation  recapture -0-   5. Can i file my 2011 taxes in 2013 Add lines 2, 3, and 4. Can i file my 2011 taxes in 2013 40,000 6. Can i file my 2011 taxes in 2013 Subtract line 5 from line 1. Can i file my 2011 taxes in 2013  This is your adjusted  gross profit 45,000 7. Can i file my 2011 taxes in 2013 Enter any installment sale  income reported in  prior year(s) 24,000 8. Can i file my 2011 taxes in 2013 Subtract line 7 from line 6 21,000 9. Can i file my 2011 taxes in 2013 Future installments 45,000 10. Can i file my 2011 taxes in 2013 Divide line 8 by line 9. Can i file my 2011 taxes in 2013  This is your new gross profit percentage* 46. Can i file my 2011 taxes in 2013 67% * Apply this percentage to all future payments to determine how much of each of those payments is installment sale income. Can i file my 2011 taxes in 2013 Reporting Installment Sale Income Generally, you will use Form 6252 to report installment sale income from casual sales of real or personal property during the tax year. Can i file my 2011 taxes in 2013 You also will have to report the installment sale income on Schedule D (Form 1040), Capital Gains and Losses, or Form 4797, or both. Can i file my 2011 taxes in 2013 See Schedule D (Form 1040) and Form 4797 , later. Can i file my 2011 taxes in 2013 If the property was your main home, you may be able to exclude part or all of the gain. Can i file my 2011 taxes in 2013 See Sale of Your Home , later. Can i file my 2011 taxes in 2013 Form 6252 Use Form 6252 to report an installment sale in the year it takes place and to report payments received, or considered received because of related party resales, in later years. Can i file my 2011 taxes in 2013 Attach it to your tax return for each year. Can i file my 2011 taxes in 2013 Form 6252 will help you determine the gross profit, contract price, gross profit percentage, and installment sale income. Can i file my 2011 taxes in 2013 Which parts to complete. Can i file my 2011 taxes in 2013   Which part to complete depends on whether you are filing the form for the year of sale or a later year. Can i file my 2011 taxes in 2013 Year of sale. Can i file my 2011 taxes in 2013   Complete lines 1 through 4, Part I, and Part II. Can i file my 2011 taxes in 2013 If you sold property to a related party during the year, also complete Part III. Can i file my 2011 taxes in 2013 Later years. Can i file my 2011 taxes in 2013   Complete lines 1 through 4 and Part II for any year in which you receive a payment from an installment sale. Can i file my 2011 taxes in 2013   If you sold a marketable security to a related party after May 14, 1980, and before January 1, 1987, complete Form 6252 for each year of the installment agreement, even if you did not receive a payment. Can i file my 2011 taxes in 2013 (After December 31, 1986, the installment method is not available for the sale of marketable securities. Can i file my 2011 taxes in 2013 ) Complete lines 1 through 4 and Part II for any year in which you receive a payment from the sale. Can i file my 2011 taxes in 2013 Complete Part III unless you received the final payment during the tax year. Can i file my 2011 taxes in 2013   If you sold property other than a marketable security to a related party after May 14, 1980, complete Form 6252 for the year of sale and for 2 years after the year of sale, even if you did not receive a payment. Can i file my 2011 taxes in 2013 Complete lines 1 through 4 and Part II for any year during this 2-year period in which you receive a payment from the sale. Can i file my 2011 taxes in 2013 Complete Part III for the 2 years after the year of sale unless you received the final payment during the tax year. Can i file my 2011 taxes in 2013 Schedule D (Form 1040) Enter the gain figured on Form 6252 (line 26) for personal-use property (capital assets) on Schedule D (Form 1040), as a short-term gain (line 4) or long-term gain (line 11). Can i file my 2011 taxes in 2013 If your gain from the installment sale qualifies for long-term capital gain treatment in the year of sale, it will continue to qualify in later tax years. Can i file my 2011 taxes in 2013 Your gain is long-term if you owned the property for more than 1 year when you sold it. Can i file my 2011 taxes in 2013 Form 4797 An installment sale of property used in your business or that earns rent or royalty income may result in a capital gain, an ordinary gain, or both. Can i file my 2011 taxes in 2013 All or part of any gain from the disposition of the property may be ordinary gain from depreciation recapture. Can i file my 2011 taxes in 2013 For trade or business property held for more than 1 year, enter the amount from line 26 of Form 6252 on Form 4797, line 4. Can i file my 2011 taxes in 2013 If the property was held 1 year or less or you have an ordinary gain from the sale of a noncapital asset (even if the holding period is more than 1 year), enter this amount on Form 4797, line 10, and write “From Form 6252. Can i file my 2011 taxes in 2013 ” Sale of Your Home If you sell your home, you may be able to exclude all or part of the gain on the sale. Can i file my 2011 taxes in 2013 See Publication 523 for information about excluding the gain. Can i file my 2011 taxes in 2013 If the sale is an installment sale, any gain you exclude is not included in gross profit when figuring your gross profit percentage. Can i file my 2011 taxes in 2013 Seller-financed mortgage. Can i file my 2011 taxes in 2013   If you finance the sale of your home to an individual, both you and the buyer may have to follow special reporting procedures. Can i file my 2011 taxes in 2013   When you report interest income received from a buyer who uses the property as a personal residence, write the buyer's name, address, and social security number (SSN) on line 1 of Schedule B (Form 1040A or 1040), Interest and Ordinary Dividends. Can i file my 2011 taxes in 2013   When deducting the mortgage interest, the buyer must write your name, address, and SSN on line 11 of Schedule A (Form 1040), Itemized Deductions. Can i file my 2011 taxes in 2013   If either person fails to include the other person's SSN, a $50 penalty will be assessed. Can i file my 2011 taxes in 2013 Other Rules The rules discussed in this part of the publication apply only in certain circumstances or to certain types of property. Can i file my 2011 taxes in 2013 The following topics are discussed. Can i file my 2011 taxes in 2013 Electing out of the installment method. Can i file my 2011 taxes in 2013 Payments received or considered received. Can i file my 2011 taxes in 2013 Escrow account. Can i file my 2011 taxes in 2013 Depreciation recapture income. Can i file my 2011 taxes in 2013 Sale to a related person. Can i file my 2011 taxes in 2013 Like-kind exchange. Can i file my 2011 taxes in 2013 Contingent payment sale. Can i file my 2011 taxes in 2013 Single sale of several assets. Can i file my 2011 taxes in 2013 Sale of a business. Can i file my 2011 taxes in 2013 Unstated interest and original issue discount. Can i file my 2011 taxes in 2013 Disposition of an installment obligation. Can i file my 2011 taxes in 2013 Repossession. Can i file my 2011 taxes in 2013 Interest on deferred tax. Can i file my 2011 taxes in 2013 Electing Out of the Installment Method If you elect not to use the installment method, you generally report the entire gain in the year of sale, even though you do not receive all the sale proceeds in that year. Can i file my 2011 taxes in 2013 To figure the amount of gain to report, use the fair market value (FMV) of the buyer's installment obligation that represents the buyer's debt to you. Can i file my 2011 taxes in 2013 Notes, mortgages, and land contracts are examples of obligations that are included at FMV. Can i file my 2011 taxes in 2013 You must figure the FMV of the buyer's installment obligation, whether or not you would actually be able to sell it. Can i file my 2011 taxes in 2013 If you use the cash method of accounting, the FMV of the obligation will never be considered to be less than the FMV of the property sold (minus any other consideration received). Can i file my 2011 taxes in 2013 Example. Can i file my 2011 taxes in 2013 You sold a parcel of land for $50,000. Can i file my 2011 taxes in 2013 You received a $10,000 down payment and will receive the balance over the next 10 years at $4,000 a year, plus 8% interest. Can i file my 2011 taxes in 2013 The buyer gave you a note for $40,000. Can i file my 2011 taxes in 2013 The note had an FMV of $40,000. Can i file my 2011 taxes in 2013 You paid a commission of 6%, or $3,000, to a broker for negotiating the sale. Can i file my 2011 taxes in 2013 The land cost $25,000, and you owned it for more than one year. Can i file my 2011 taxes in 2013 You decide to elect out of the installment method and report the entire gain in the year of sale. Can i file my 2011 taxes in 2013 Gain realized:     Selling price $50,000 Minus: Property's adj. Can i file my 2011 taxes in 2013 basis $25,000     Commission 3,000 28,000 Gain realized $22,000 Gain recognized in year of sale:   Cash $10,000 Market value of note 40,000 Total realized in year of sale $50,000 Minus: Property's adj. Can i file my 2011 taxes in 2013 basis $25,000     Commission 3,000 28,000 Gain recognized $22,000 The recognized gain of $22,000 is long-term capital gain. Can i file my 2011 taxes in 2013 You include the entire gain in income in the year of sale, so you do not include in income any principal payments you receive in later tax years. Can i file my 2011 taxes in 2013 The interest on the note is ordinary income and is reported as interest income each year. Can i file my 2011 taxes in 2013 How to elect out. Can i file my 2011 taxes in 2013   To make this election, do not report your sale on Form 6252. Can i file my 2011 taxes in 2013 Instead, report it on Form 8949, Sales and Other Dispositions of Capital Assets, Form 4797, or both. Can i file my 2011 taxes in 2013 When to elect out. Can i file my 2011 taxes in 2013   Make this election by the due date, including extensions, for filing your tax return for the year the sale takes place. Can i file my 2011 taxes in 2013 Automatic six-month extension. Can i file my 2011 taxes in 2013   If you timely file your tax return without making the election, you still can make the election by filing an amended return within 6 months of the due date of your return (excluding extensions). Can i file my 2011 taxes in 2013 Write “Filed pursuant to section 301. Can i file my 2011 taxes in 2013 9100-2” at the top of the amended return and file it where the original return was filed. Can i file my 2011 taxes in 2013 Revoking the election. Can i file my 2011 taxes in 2013   Once made, the election can be revoked only with IRS approval. Can i file my 2011 taxes in 2013 A revocation is retroactive. Can i file my 2011 taxes in 2013 You will not be allowed to revoke the election if either of the following applies. Can i file my 2011 taxes in 2013 One of the purposes is to avoid federal income tax. Can i file my 2011 taxes in 2013 The tax year in which any payment was received has closed. Can i file my 2011 taxes in 2013 Payments Received or Considered Received You must figure your gain each year on the payments you receive, or are treated as receiving, from an installment sale. Can i file my 2011 taxes in 2013 In certain situations, you are considered to have received a payment, even though the buyer does not pay you directly. Can i file my 2011 taxes in 2013 These situations occur when the buyer assumes or pays any of your debts, such as a loan, or pays any of your expenses, such as a sales commission. Can i file my 2011 taxes in 2013 However, as discussed later, the buyer's assumption of your debt is treated as a recovery of your basis rather than as a payment in many cases. Can i file my 2011 taxes in 2013 Buyer Pays Seller's Expenses If the buyer pays any of your expenses related to the sale of your property, it is considered a payment to you in the year of sale. Can i file my 2011 taxes in 2013 Include these expenses in the selling and contract prices when figuring the gross profit percentage. Can i file my 2011 taxes in 2013 Buyer Assumes Mortgage If the buyer assumes or pays off your mortgage, or otherwise takes the property subject to the mortgage, the following rules apply. Can i file my 2011 taxes in 2013 Mortgage not more than basis. Can i file my 2011 taxes in 2013   If the buyer assumes a mortgage that is not more than your installment sale basis in the property, it is not considered a payment to you. Can i file my 2011 taxes in 2013 It is considered a recovery of your basis. Can i file my 2011 taxes in 2013 The contract price is the selling price minus the mortgage. Can i file my 2011 taxes in 2013 Example. Can i file my 2011 taxes in 2013 You sell property with an adjusted basis of $19,000. Can i file my 2011 taxes in 2013 You have selling expenses of $1,000. Can i file my 2011 taxes in 2013 The buyer assumes your existing mortgage of $15,000 and agrees to pay you $10,000 (a cash down payment of $2,000 and $2,000 (plus 12% interest) in each of the next 4 years). Can i file my 2011 taxes in 2013 The selling price is $25,000 ($15,000 + $10,000). Can i file my 2011 taxes in 2013 Your gross profit is $5,000 ($25,000 − $20,000 installment sale basis). Can i file my 2011 taxes in 2013 The contract price is $10,000 ($25,000 − $15,000 mortgage). Can i file my 2011 taxes in 2013 Your gross profit percentage is 50% ($5,000 ÷ $10,000). Can i file my 2011 taxes in 2013 You report half of each $2,000 payment received as gain from the sale. Can i file my 2011 taxes in 2013 You also report all interest you receive as ordinary income. Can i file my 2011 taxes in 2013 Mortgage more than basis. Can i file my 2011 taxes in 2013   If the buyer assumes a mortgage that is more than your installment sale basis in the property, you recover your entire basis. Can i file my 2011 taxes in 2013 The part of the mortgage greater than your basis is treated as a payment received in the year of sale. Can i file my 2011 taxes in 2013   To figure the contract price, subtract the mortgage from the selling price. Can i file my 2011 taxes in 2013 This is the total amount (other than interest) you will receive directly from the buyer. Can i file my 2011 taxes in 2013 Add to this amount the payment you are considered to have received (the difference between the mortgage and your installment sale basis). Can i file my 2011 taxes in 2013 The contract price is then the same as your gross profit from the sale. Can i file my 2011 taxes in 2013    If the mortgage the buyer assumes is equal to or more than your installment sale basis, the gross profit percentage always will be 100%. Can i file my 2011 taxes in 2013 Example. Can i file my 2011 taxes in 2013 The selling price for your property is $9,000. Can i file my 2011 taxes in 2013 The buyer will pay you $1,000 annually (plus 8% interest) over the next 3 years and assume an existing mortgage of $6,000. Can i file my 2011 taxes in 2013 Your adjusted basis in the property is $4,400. Can i file my 2011 taxes in 2013 You have selling expenses of $600, for a total installment sale basis of $5,000. Can i file my 2011 taxes in 2013 The part of the mortgage that is more than your installment sale basis is $1,000 ($6,000 − $5,000). Can i file my 2011 taxes in 2013 This amount is included in the contract price and treated as a payment received in the year of sale. Can i file my 2011 taxes in 2013 The contract price is $4,000: Selling price $9,000 Minus: Mortgage (6,000) Amount actually received $3,000 Add difference:   Mortgage $6,000   Minus: Installment sale basis 5,000 1,000 Contract price $4,000       Your gross profit on the sale is also $4,000: Selling price $9,000 Minus: Installment sale basis (5,000) Gross profit $4,000 Your gross profit percentage is 100%. Can i file my 2011 taxes in 2013 Report 100% of each payment (less interest) as gain from the sale. Can i file my 2011 taxes in 2013 Treat the $1,000 difference between the mortgage and your installment sale basis as a payment and report 100% of it as gain in the year of sale. Can i file my 2011 taxes in 2013 Mortgage Canceled If the buyer of your property is the person who holds the mortgage on it, your debt is canceled, not assumed. Can i file my 2011 taxes in 2013 You are considered to receive a payment equal to the outstanding canceled debt. Can i file my 2011 taxes in 2013 Example. Can i file my 2011 taxes in 2013 Mary Jones loaned you $45,000 in 2009 in exchange for a note and a mortgage in a tract of land you owned. Can i file my 2011 taxes in 2013 On April 4, 2013, she bought the land for $70,000. Can i file my 2011 taxes in 2013 At that time, $30,000 of her loan to you was outstanding. Can i file my 2011 taxes in 2013 She agreed to forgive this $30,000 debt and to pay you $20,000 (plus interest) on August 1, 2013, and $20,000 on August 1, 2014. Can i file my 2011 taxes in 2013 She did not assume an existing mortgage. Can i file my 2011 taxes in 2013 She canceled the $30,000 debt you owed her. Can i file my 2011 taxes in 2013 You are considered to have received a $30,000 payment at the time of the sale. Can i file my 2011 taxes in 2013 Buyer Assumes Other Debts If the buyer assumes any other debts, such as a loan or back taxes, it may be considered a payment to you in the year of sale. Can i file my 2011 taxes in 2013 If the buyer assumes the debt instead of paying it off, only part of it may have to be treated as a payment. Can i file my 2011 taxes in 2013 Compare the debt to your installment sale basis in the property being sold. Can i file my 2011 taxes in 2013 If the debt is less than your installment sale basis, none of it is treated as a payment. Can i file my 2011 taxes in 2013 If it is more, only the difference is treated as a payment. Can i file my 2011 taxes in 2013 If the buyer assumes more than one debt, any part of the total that is more than your installment sale basis is considered a payment. Can i file my 2011 taxes in 2013 These rules are the same as the rules discussed earlier under Buyer Assumes Mortgage . Can i file my 2011 taxes in 2013 However, they apply only to the following types of debt the buyer assumes. Can i file my 2011 taxes in 2013 Those acquired from ownership of the property you are selling, such as a mortgage, lien, overdue interest, or back taxes. Can i file my 2011 taxes in 2013 Those acquired in the ordinary course of your business, such as a balance due for inventory you purchased. Can i file my 2011 taxes in 2013 If the buyer assumes any other type of debt, such as a personal loan or your legal fees relating to the sale, it is treated as if the buyer had paid off the debt at the time of the sale. Can i file my 2011 taxes in 2013 The value of the assumed debt is then considered a payment to you in the year of sale. Can i file my 2011 taxes in 2013 Property Used As a Payment If you receive property other than money from the buyer, it is still considered a payment in the year received. Can i file my 2011 taxes in 2013 However, see Like-Kind Exchange , later. Can i file my 2011 taxes in 2013 Generally, the amount of the payment is the property's FMV on the date you receive it. Can i file my 2011 taxes in 2013 Exception. Can i file my 2011 taxes in 2013   If the property the buyer gives you is payable on demand or readily tradable, the amount you should consider as payment in the year received is: The FMV of the property on the date you receive it if you use the cash method of accounting, The face amount of the obligation on the date you receive it if you use the accrual method of accounting, or The stated redemption price at maturity less any original issue discount (OID) or, if there is no OID, the stated redemption price at maturity appropriately discounted to reflect total unstated interest. Can i file my 2011 taxes in 2013 See Unstated Interest and Original Issue Discount (OID) , later. Can i file my 2011 taxes in 2013 Debt not payable on demand. Can i file my 2011 taxes in 2013   Any evidence of debt you receive from the buyer not payable on demand is not considered a payment. Can i file my 2011 taxes in 2013 This is true even if the debt is guaranteed by a third party, including a government agency. Can i file my 2011 taxes in 2013 Fair market value (FMV). Can i file my 2011 taxes in 2013   This 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 both having a reasonable knowledge of all the necessary facts. Can i file my 2011 taxes in 2013 Third-party note. Can i file my 2011 taxes in 2013   If the property the buyer gives you is a third-party note (or other obligation of a third party), you are considered to have received a payment equal to the note's FMV. Can i file my 2011 taxes in 2013 Because the FMV of the note is itself a payment on your installment sale, any payments you later receive from the third party are not considered payments on the sale. Can i file my 2011 taxes in 2013 The excess of the note's face value over its FMV is interest. Can i file my 2011 taxes in 2013 Exclude this interest in determining the selling price of the property. Can i file my 2011 taxes in 2013 However, see Exception under Property Used As a Payment, earlier. Can i file my 2011 taxes in 2013 Example. Can i file my 2011 taxes in 2013 You sold real estate in an installment sale. Can i file my 2011 taxes in 2013 As part of the down payment, the buyer assigned to you a $50,000, 8% interest third-party note. Can i file my 2011 taxes in 2013 The FMV of the third-party note at the time of the sale was $30,000. Can i file my 2011 taxes in 2013 This amount, not $50,000, is a payment to you in the year of sale. Can i file my 2011 taxes in 2013 The third-party note had an FMV equal to 60% of its face value ($30,000 ÷ $50,000), so 60% of each principal payment you receive on this note is a nontaxable return of capital. Can i file my 2011 taxes in 2013 The remaining 40% is interest taxed as ordinary income. Can i file my 2011 taxes in 2013 Bond. Can i file my 2011 taxes in 2013   A bond or other evidence of debt you receive from the buyer that is payable on demand or readily tradable in an established securities market is treated as a payment in the year you receive it. Can i file my 2011 taxes in 2013 For more information on the amount you should treat as a payment, see Exception under Property Used As a Payment, earlier. Can i file my 2011 taxes in 2013    If you receive a government or corporate bond for a sale before October 22, 2004, and the bond has interest coupons attached or can be readily traded in an established securities market, you are considered to have received payment equal to the bond's FMV. Can i file my 2011 taxes in 2013 However, see Exception under Property Used As a Payment, earlier. Can i file my 2011 taxes in 2013 Buyer's note. Can i file my 2011 taxes in 2013   The buyer's note (unless payable on demand) is not considered payment on the sale. Can i file my 2011 taxes in 2013 However, its full face value is included when figuring the selling price and the contract price. Can i file my 2011 taxes in 2013 Payments you receive on the note are used to figure your gain in the year received. Can i file my 2011 taxes in 2013 Installment Obligation Used as Security (Pledge Rule) If you use an installment obligation to secure any debt, the net proceeds from the debt may be treated as a payment on the installment obligation. Can i file my 2011 taxes in 2013 This is known as the pledge rule, and it applies if the selling price of the property is over $150,000. Can i file my 2011 taxes in 2013 It does not apply to the following dispositions. Can i file my 2011 taxes in 2013 Sales of property used or produced in farming. Can i file my 2011 taxes in 2013 Sales of personal-use property. Can i file my 2011 taxes in 2013 Qualifying sales of time-shares and residential lots. Can i file my 2011 taxes in 2013 The net debt proceeds are the gross debt minus the direct expenses of getting the debt. Can i file my 2011 taxes in 2013 The amount treated as a payment is considered received on the later of the following dates. Can i file my 2011 taxes in 2013 The date the debt becomes secured. Can i file my 2011 taxes in 2013 The date you receive the debt proceeds. Can i file my 2011 taxes in 2013 A debt is secured by an installment obligation to the extent that payment of principal or interest on the debt is directly secured (under the terms of the loan or any underlying arrangement) by any interest in the installment obligation. Can i file my 2011 taxes in 2013 For sales after December 16, 1999, payment on a debt is treated as directly secured by an interest in an installment obligation to the extent an arrangement allows you to satisfy all or part of the debt with the installment obligation. Can i file my 2011 taxes in 2013 Limit. Can i file my 2011 taxes in 2013   The net debt proceeds treated as a payment on the pledged installment obligation cannot be more than the excess of item (1) over item (2), below. Can i file my 2011 taxes in 2013 The total contract price on the installment sale. Can i file my 2011 taxes in 2013 Any payments received on the installment obligation before the date the net debt proceeds are treated as a payment. Can i file my 2011 taxes in 2013 Installment payments. Can i file my 2011 taxes in 2013   The pledge rule accelerates the reporting of the installment obligation payments. Can i file my 2011 taxes in 2013 Do not report payments received on the obligation after it has been pledged until the payments received exceed the amount reported under the pledge rule. Can i file my 2011 taxes in 2013 Exception. Can i file my 2011 taxes in 2013   The pledge rule does not apply to pledges made after December 17, 1987, to refinance a debt under the following circumstances. Can i file my 2011 taxes in 2013 The debt was outstanding on December 17, 1987. Can i file my 2011 taxes in 2013 The debt was secured by that installment sale obligation on that date and at all times thereafter until the refinancing occurred. Can i file my 2011 taxes in 2013   A refinancing as a result of the creditor's calling of the debt is treated as a continuation of the original debt so long as a person other than the creditor or a person related to the creditor provides the refinancing. Can i file my 2011 taxes in 2013   This exception applies only to refinancing that does not exceed the principal of the original debt immediately before the refinancing. Can i file my 2011 taxes in 2013 Any excess is treated as a payment on the installment obligation. Can i file my 2011 taxes in 2013 Escrow Account In some cases, the sales agreement or a later agreement may call for the buyer to establish an irrevocable escrow account from which the remaining installment payments (including interest) are to be made. Can i file my 2011 taxes in 2013 These sales cannot be reported on the installment method. Can i file my 2011 taxes in 2013 The buyer's obligation is paid in full when the balance of the purchase price is deposited into the escrow account. Can i file my 2011 taxes in 2013 When an escrow account is established, you no longer rely on the buyer for the rest of the payments, but on the escrow arrangement. Can i file my 2011 taxes in 2013 Example. Can i file my 2011 taxes in 2013 You sell property for $100,000. Can i file my 2011 taxes in 2013 The sales agreement calls for a down payment of $10,000 and payment of $15,000 in each of the next 6 years to be made from an irrevocable escrow account containing the balance of the purchase price plus interest. Can i file my 2011 taxes in 2013 You cannot report the sale on the installment method because the full purchase price is considered received in the year of sale. Can i file my 2011 taxes in 2013 You report the entire gain in the year of sale. Can i file my 2011 taxes in 2013 Escrow established in a later year. Can i file my 2011 taxes in 2013   If you make an installment sale and in a later year an irrevocable escrow account is established to pay the remaining installments plus interest, the amount placed in the escrow account represents payment of the balance of the installment obligation. Can i file my 2011 taxes in 2013 Substantial restriction. Can i file my 2011 taxes in 2013   If an escrow arrangement imposes a substantial restriction on your right to receive the sale proceeds, the sale can be reported on the installment method, provided it otherwise qualifies. Can i file my 2011 taxes in 2013 For an escrow arrangement to impose a substantial restriction, it must serve a bona fide purpose of the buyer, that is, a real and definite restriction placed on the seller or a specific economic benefit conferred on the buyer. Can i file my 2011 taxes in 2013 Depreciation Recapture Income If you sell property for which you claimed or could have claimed a depreciation deduction, you must report any depreciation recapture income in the year of sale, whether or not an installment payment was received that year. Can i file my 2011 taxes in 2013 Figure your depreciation recapture income (including the section 179 deduction and the section 179A deduction recapture) in Part III of Form 4797. Can i file my 2011 taxes in 2013 Report the recapture income in Part II of Form 4797 as ordinary income in the year of sale. Can i file my 2011 taxes in 2013 The recapture income is also included in Part I of Form 6252. Can i file my 2011 taxes in 2013 However, the gain equal to the recapture income is reported in full in the year of the sale. Can i file my 2011 taxes in 2013 Only the gain greater than the recapture income is reported on the installment method. Can i file my 2011 taxes in 2013 For more information on depreciation recapture, see chapter 3 in Publication 544. Can i file my 2011 taxes in 2013 The recapture income reported in the year of sale is included in your installment sale basis in determining your gross profit on the installment sale. Can i file my 2011 taxes in 2013 Determining gross profit is discussed under General Rules , earlier. Can i file my 2011 taxes in 2013 Sale to a Related Person If you sell depreciable property to a related person and the sale is an installment sale, you may not be able to report the sale using the installment method. Can i file my 2011 taxes in 2013 If you sell property to a related person and the related person disposes of the property before you receive all payments with respect to the sale, you may have to treat the amount realized by the related person as received by you when the related person disposes of the property. Can i file my 2011 taxes in 2013 These rules are explained under Sale of Depreciable Property and under Sale and Later Disposition , later. Can i file my 2011 taxes in 2013 Sale of Depreciable Property If you sell depreciable property to certain related persons, you generally cannot report the sale using the installment method. Can i file my 2011 taxes in 2013 Instead, all payments to be received are considered received in the year of sale. Can i file my 2011 taxes in 2013 However, see Exception , below. Can i file my 2011 taxes in 2013 Depreciable property for this rule is any property the purchaser can depreciate. Can i file my 2011 taxes in 2013 Payments to be received include the total of all noncontingent payments and the FMV of any payments contingent as to amount. Can i file my 2011 taxes in 2013 In the case of contingent payments for which the FMV cannot be reasonably determined, your basis in the property is recovered proportionately. Can i file my 2011 taxes in 2013 The purchaser cannot increase the basis of the property acquired in the sale before the seller includes a like amount in income. Can i file my 2011 taxes in 2013 Exception. Can i file my 2011 taxes in 2013   You can use the installment method to report a sale of depreciable property to a related person if no significant tax deferral benefit will be derived from the sale. Can i file my 2011 taxes in 2013 You must show to the satisfaction of the IRS that avoidance of federal income tax was not one of the principal purposes of the sale. Can i file my 2011 taxes in 2013 Related person. Can i file my 2011 taxes in 2013   Related persons include the following. Can i file my 2011 taxes in 2013 A person and all controlled entities with respect to that person. Can i file my 2011 taxes in 2013 A taxpayer and any trust in which such taxpayer (or his spouse) is a beneficiary, unless that beneficiary's interest in the trust is a remote contingent interest. Can i file my 2011 taxes in 2013 Except in the case of a sale or exchange in satisfaction of a pecuniary bequest, an executor of an estate and a beneficiary of that estate. Can i file my 2011 taxes in 2013 Two or more partnerships in which the same person owns, directly or indirectly, more than 50% of the capital interests or the profits interests. Can i file my 2011 taxes in 2013   For information about which entities are controlled entities, see section 1239(c). Can i file my 2011 taxes in 2013 Sale and Later Disposition Generally, a special rule applies if you sell or exchange property to a related person on the installment method (first disposition) who then sells, exchanges, or gives away the property (second disposition) under the following circumstances. Can i file my 2011 taxes in 2013 The related person makes the second disposition before making all payments on the first disposition. Can i file my 2011 taxes in 2013 The related person disposes of the property within 2 years of the first disposition. Can i file my 2011 taxes in 2013 This rule does not apply if the property involved is marketable securities. Can i file my 2011 taxes in 2013 Under this rule, you treat part or all of the amount the related person realizes (or the FMV if the disposed property is not sold or exchanged) from the second disposition as if you received it at the time of the second disposition. Can i file my 2011 taxes in 2013 See Exception , later. Can i file my 2011 taxes in 2013 Related person. Can i file my 2011 taxes in 2013   Related persons include the following. Can i file my 2011 taxes in 2013 Members of a family, including only brothers and sisters (either whole or half), husband and wife, ancestors, and lineal descendants. Can i file my 2011 taxes in 2013 A partnership or estate and a partner or beneficiary. Can i file my 2011 taxes in 2013 A trust (other than a section 401(a) employees trust) and a beneficiary. Can i file my 2011 taxes in 2013 A trust and an owner of the trust. Can i file my 2011 taxes in 2013 Two corporations that are members of the same controlled group as defined in section 267(f). Can i file my 2011 taxes in 2013 The fiduciaries of two different trusts, and the fiduciary and beneficiary of two different trusts, if the same person is the grantor of both trusts. Can i file my 2011 taxes in 2013 A tax-exempt educational or charitable organization and a person (if an individual, including members of the individual's family) who directly or indirectly controls such an organization. Can i file my 2011 taxes in 2013 An individual and a corporation when the individual owns, directly or indirectly, more than 50% of the value of the outstanding stock of the corporation. Can i file my 2011 taxes in 2013 A fiduciary of a trust and a corporation when the trust or the grantor of the trust owns, directly or indirectly, more than 50% in value of the outstanding stock of the corporation. Can i file my 2011 taxes in 2013 The grantor and fiduciary, and the fiduciary and beneficiary, of any trust. Can i file my 2011 taxes in 2013 Any two S corporations if the same persons own more than 50% in value of the outstanding stock of each corporation. Can i file my 2011 taxes in 2013 An S corporation and a corporation that is not an S corporation if the same persons own more than 50% in value of the outstanding stock of each corporation. Can i file my 2011 taxes in 2013 A corporation and a partnership if the same persons own more than 50% in value of the outstanding stock of the corporation and more than 50% of the capital or profits interest in the partnership. Can i file my 2011 taxes in 2013 An executor and a beneficiary of an estate unless the sale is in satisfaction of a pecuniary bequest. Can i file my 2011 taxes in 2013 Example 1. Can i file my 2011 taxes in 2013 In 2012, Harvey Green sold farm land to his son Bob for $500,000, which was to be paid in five equal payments over 5 years, plus adequate stated interest on the balance due. Can i file my 2011 taxes in 2013 His installment sale basis for the farm land was $250,000 and the property was not subject to any outstanding liens or mortgages. Can i file my 2011 taxes in 2013 His gross profit percentage is 50% (gross profit of $250,000 ÷ contract price of $500,000). Can i file my 2011 taxes in 2013 He received $100,000 in 2012 and included $50,000 in income for that year ($100,000 × 0. Can i file my 2011 taxes in 2013 50). Can i file my 2011 taxes in 2013 Bob made no improvements to the property and sold it to Alfalfa Inc. Can i file my 2011 taxes in 2013 , in 2013 for $600,000 after making the payment for that year. Can i file my 2011 taxes in 2013 The amount realized from the second disposition is $600,000. Can i file my 2011 taxes in 2013 Harvey figures his installment sale income for 2013 as follows: Lesser of: 1) Amount realized on second disposition, or 2) Contract price on first disposition $500,000 Subtract: Sum of payments from Bob in 2012 and 2013 - 200,000 Amount treated as received because of second disposition $300,000 Add: Payment from Bob in 2013 + 100,000 Total payments received and treated as received for 2013 $400,000 Multiply by gross profit % × . Can i file my 2011 taxes in 2013 50 Installment sale income for 2013 $200,000 Harvey will not include in his installment sale income any principal payments he receives on the installment obligation for 2014, 2015, and 2016 because he has already reported the total payments of $500,000 from the first disposition ($100,000 in 2012 and $400,000 in 2013). Can i file my 2011 taxes in 2013 Example 2. Can i file my 2011 taxes in 2013 Assume the facts are the same as Example 1 except that Bob sells the property for only $400,000. Can i file my 2011 taxes in 2013 The gain for 2013 is figured as follows: Lesser of: 1) Amount realized on second disposition, or 2) Contract price on first disposition $400,000 Subtract: Sum of payments from Bob in 2012 and 2013 − 200,000 Amount treated as received because of second disposition $200,000 Add: Payment from Bob in 2013 + 100,000 Total payments received and treated as received for 2013 $300,000 Multiply by gross profit % × . Can i file my 2011 taxes in 2013 50 Installment sale income for 2013 $150,000     Harvey receives a $100,000 payment in 2014 and another in 2015. Can i file my 2011 taxes in 2013 They are not taxed because he treated the $200,000 from the disposition in 2013 as a payment received and paid tax on the installment sale income. Can i file my 2011 taxes in 2013 In 2016, he receives the final $100,000 payment. Can i file my 2011 taxes in 2013 He figures the installment sale income he must recognize in 2016 as follows: Total payments from the first disposition received by the end of 2016 $500,000 Minus the sum of:     Payment from 2012 $100,000   Payment from 2013 100,000   Amount treated as received in 2013 200,000   Total on which gain was previously recognized  − 400,000 Payment on which gain is recognized for 2016  $100,000 Multiply by gross profit % × . Can i file my 2011 taxes in 2013 50 Installment sale income for 2016 $ 50,000 Exception. Can i file my 2011 taxes in 2013   This rule does not apply to a second disposition, and any later transfer, if you can show to the satisfaction of the IRS that neither the first disposition (to the related person) nor the second disposition had as one of its principal purposes the avoidance of federal income tax. Can i file my 2011 taxes in 2013 Generally, an involuntary second disposition will qualify under the nontax avoidance exception, such as when a creditor of the related person forecloses on the property or the related person declares bankruptcy. Can i file my 2011 taxes in 2013   The nontax avoidance exception also applies to a second disposition that is also an installment sale if the terms of payment under the installment resale are substantially equal to or longer than those for the first installment sale. Can i file my 2011 taxes in 2013 However, the exception does not apply if the resale terms permit significant deferral of recognition of gain from the first sale. Can i file my 2011 taxes in 2013   In addition, any sale or exchange of stock to the issuing corporation is not treated as a first disposition. Can i file my 2011 taxes in 2013 An involuntary conversion is not treated as a second disposition if the first disposition occurred before the threat of conversion. Can i file my 2011 taxes in 2013 A transfer after the death of the person making the first disposition or the related person's death, whichever is earlier, is not treated as a second disposition. Can i file my 2011 taxes in 2013 Like-Kind Exchange If you trade business or investment property solely for the same kind of property to be held as business or investment property, you can postpone reporting the gain. Can i file my 2011 taxes in 2013 These trades are known as like-kind exchanges. Can i file my 2011 taxes in 2013 The property you receive in a like-kind exchange is treated as if it were a continuation of the property you gave up. Can i file my 2011 taxes in 2013 You do not have to report any part of your gain if you receive only like-kind property. Can i file my 2011 taxes in 2013 However, if you also receive money or other property (boot) in the exchange, you must report your gain to the extent of the money and the FMV of the other property received. Can i file my 2011 taxes in 2013 For more information on like-kind exchanges, see Like-Kind Exchanges in chapter 1 of Publication 544. Can i file my 2011 taxes in 2013 Installment payments. Can i file my 2011 taxes in 2013   If, in addition to like-kind property, you receive an installment obligation in the exchange, the following rules apply to determine the installment sale income each year. Can i file my 2011 taxes in 2013 The contract price is reduced by the FMV of the like-kind property received in the trade. Can i file my 2011 taxes in 2013 The gross profit is reduced by any gain on the trade that can be postponed. Can i file my 2011 taxes in 2013 Like-kind property received in the trade is not considered payment on the installment obligation. Can i file my 2011 taxes in 2013 Example. Can i file my 2011 taxes in 2013 In 2013, George Brown trades personal property with an installment sale basis of $400,000 for like-kind property having an FMV of $200,000. Can i file my 2011 taxes in 2013 He also receives an installment note for $800,000 in the trade. Can i file my 2011 taxes in 2013 Under the terms of the note, he is to receive $100,000 (plus interest) in 2014 and the balance of $700,000 (plus interest) in 2015. Can i file my 2011 taxes in 2013 George's selling price is $1,000,000 ($800,000 installment note + $200,000 FMV of like-kind property received). Can i file my 2011 taxes in 2013 His gross profit is $600,000 ($1,000,000 − $400,000 installment sale basis). Can i file my 2011 taxes in 2013 The contract price is $800,000 ($1,000,000 − $200,000). Can i file my 2011 taxes in 2013 The gross profit percentage is 75% ($600,000 ÷ $800,000). Can i file my 2011 taxes in 2013 He reports no gain in 2013 because the like-kind property he receives is not treated as a payment for figuring gain. Can i file my 2011 taxes in 2013 He reports $75,000 gain for 2014 (75% of $100,000 payment received) and $525,000 gain for 2015 (75% of $700,000 payment received). Can i file my 2011 taxes in 2013 Deferred exchanges. Can i file my 2011 taxes in 2013   A deferred exchange is one in which you transfer property you use in business or hold for investment and receive like-kind property later that you will use in business or hold for investment. Can i file my 2011 taxes in 2013 Under this type of exchange, the person receiving your property may be required to place funds in an escrow account or trust. Can i file my 2011 taxes in 2013 If certain rules are met, these funds will not be considered a payment until you have the right to receive the funds or, if earlier, the end of the exchange period. Can i file my 2011 taxes in 2013 See Regulations section 1. Can i file my 2011 taxes in 2013 1031(k)-1(j)(2) for these rules. Can i file my 2011 taxes in 2013 Contingent Payment Sale A contingent payment sale is one in which the total selling price cannot be determined by the end of the tax year of sale. Can i file my 2011 taxes in 2013 This happens, for example, if you sell your business and the selling price includes a percentage of its profits in future years. Can i file my 2011 taxes in 2013 If the selling price cannot be determined by the end of the tax year, you must use different rules to figure the contract price and the gross profit percentage than those you use for an installment sale with a fixed selling price. Can i file my 2011 taxes in 2013 For rules on using the installment method for a contingent payment sale, see Regulations section 15a. Can i file my 2011 taxes in 2013 453-1(c). Can i file my 2011 taxes in 2013 Single Sale of Several Assets If you sell different types of assets in a single sale, you must identify each asset to determine whether you can use the installment method to report the sale of that asset. Can i file my 2011 taxes in 2013 You also have to allocate part of the selling price to each asset. Can i file my 2011 taxes in 2013 If you sell assets that constitute a trade or business, see Sale of a Business , later. Can i file my 2011 taxes in 2013 Unless an allocation of the selling price has been agreed to by both parties in an arm's-length transaction, you must allocate the selling price to an asset based on its FMV. Can i file my 2011 taxes in 2013 If the buyer assumes a debt, or takes the property subject to a debt, you must reduce the FMV of the property by the debt. Can i file my 2011 taxes in 2013 This becomes the net FMV. Can i file my 2011 taxes in 2013 A sale of separate and unrelated assets of the same type under a single contract is reported as one transaction for the installment method. Can i file my 2011 taxes in 2013 However, if an asset is sold at a loss, its disposition cannot be reported on the installment method. Can i file my 2011 taxes in 2013 It must be reported separately. Can i file my 2011 taxes in 2013 The remaining assets sold at a gain are reported together. Can i file my 2011 taxes in 2013 Example. Can i file my 2011 taxes in 2013 You sold three separate and unrelated parcels of real property (A, B, and C) under a single contract calling for a total selling price of $130,000. Can i file my 2011 taxes in 2013 The total selling price consisted of a cash payment of $20,000, the buyer's assumption of a $30,000 mortgage on parcel B, and an installment obligation of $80,000 payable in eight annual installments, plus interest at 8% a year. Can i file my 2011 taxes in 2013 Your installment sale basis for each parcel was $15,000. Can i file my 2011 taxes in 2013 Your net gain was $85,000 ($130,000 − $45,000). Can i file my 2011 taxes in 2013 You report the gain on the installment method. Can i file my 2011 taxes in 2013 The sales contract did not allocate the selling price or the cash payment received in the year of sale among the individual parcels. Can i file my 2011 taxes in 2013 The FMV of parcels A, B, and C were $60,000, $60,000, and $10,000, respectively. Can i file my 2011 taxes in 2013 The installment sale basis for parcel C was more than its FMV, so it was sold at a loss and must be treated separately. Can i file my 2011 taxes in 2013 You must allocate the total selling price and the amounts received in the year of sale between parcel C and the remaining parcels. Can i file my 2011 taxes in 2013 Of the total $130,000 selling price, you must allocate $120,000 to parcels A and B together and $10,000 to parcel C. Can i file my 2011 taxes in 2013 You should allocate the cash payment of $20,000 received in the year of sale and the note receivable on the basis of their proportionate net FMV. Can i file my 2011 taxes in 2013 The allocation is figured as follows:   Parcels   A and B Parcel C FMV $120,000 $10,000 Minus: Mortgage assumed 30,000 -0- Net FMV $ 90,000 $10,000 Proportionate net FMV:     Percentage of total 90% 10% Payments in year of sale:     $20,000 × 90% $18,000   $20,000 × 10%   $2,000 Excess of parcel B mortgage over installment sale basis 15,000 -0- Allocation of payments  received (or considered  received) in year of sale $ 33,000 $ 2,000 You cannot report the sale of parcel C on the installment method because the sale results in a loss. Can i file my 2011 taxes in 2013 You report this loss of $5,000 ($10,000 selling price − $15,000 installment sale basis) in the year of sale. Can i file my 2011 taxes in 2013 However, if parcel C was held for personal use, the loss is not deductible. Can i file my 2011 taxes in 2013 You allocate the installment obligation of $80,000 to the properties sold based on their proportionate net FMVs (90% to parcels A and B, 10% to parcel C). Can i file my 2011 taxes in 2013 Sale of a Business The installment sale of an entire business for one overall price under a single contract is not the sale of a single asset. Can i file my 2011 taxes in 2013 Allocation of Selling Price To determine whether any of the gain on the sale of the business can be reported on the installment method, you must allocate the total selling price and the payments received in the year of sale between each of the following classes of assets. Can i file my 2011 taxes in 2013 Assets sold at a loss. Can i file my 2011 taxes in 2013 Real and personal property eligible for the installment method. Can i file my 2011 taxes in 2013 Real and personal property ineligible for the installment method, including: Inventory, Dealer property, and Stocks and securities. Can i file my 2011 taxes in 2013 Inventory. Can i file my 2011 taxes in 2013   The sale of inventories of personal property cannot be reported on the installment method. Can i file my 2011 taxes in 2013 All gain or loss on their sale must be reported in the year of sale, even if you receive payment in later years. Can i file my 2011 taxes in 2013   If inventory items are included in an installment sale, you may have an agreement stating which payments are for inventory and which are for the other assets being sold. Can i file my 2011 taxes in 2013 If you do not, each payment must be allocated between the inventory and the other assets sold. Can i file my 2011 taxes in 2013   Report the amount you receive (or will receive) on the sale of inventory items as ordinary business income. Can i file my 2011 taxes in 2013 Use your basis in the inventory to figure the cost of goods sold. Can i file my 2011 taxes in 2013 Deduct the part of the selling expenses allocated to inventory as an ordinary business expense. Can i file my 2011 taxes in 2013 Residual method. Can i file my 2011 taxes in 2013   Except for assets exchanged under the like-kind exchange rules, both the buyer and seller of a business must use the residual method to allocate the sale price to each business asset sold. Can i file my 2011 taxes in 2013 This method determines gain or loss from the transfer of each asset and the buyer's basis in the assets. Can i file my 2011 taxes in 2013   The residual method must be used for any transfer of a group of assets that constitutes a trade or business and for which the buyer's basis is determined only by the amount paid for the assets. Can i file my 2011 taxes in 2013 This applies to both direct and indirect transfers, such as the sale of a business or the sale of a partnership interest in which the basis of the buyer's share of the partnership assets is adjusted for the amount paid under section 743(b). Can i file my 2011 taxes in 2013   A group of assets constitutes a trade or business if goodwill or going concern value could, under any circumstances, attach to the assets or if the use of the assets would constitute an active trade or business under section 355. Can i file my 2011 taxes in 2013   The residual method provides for the consideration to be reduced first by cash and general deposit accounts (including checking and savings accounts but excluding certificates of deposit). Can i file my 2011 taxes in 2013 The consideration remaining after this reduction must be allocated among the various business assets in a certain order. Can i file my 2011 taxes in 2013   For asset acquisitions occurring after March 15, 2001, make the allocation among the following assets in proportion to (but not more than) their fair market value on the purchase date in the following order. Can i file my 2011 taxes in 2013 Certificates of deposit, U. Can i file my 2011 taxes in 2013 S. Can i file my 2011 taxes in 2013 Government securities, foreign currency, and actively traded personal property, including stock and securities. Can i file my 2011 taxes in 2013 Accounts receivable, other debt instruments, and assets that you mark to market at least annually for federal income tax purposes. Can i file my 2011 taxes in 2013 However, see Regulations section 1. Can i file my 2011 taxes in 2013 338-6(b)(2)(iii) for exceptions that apply to debt instruments issued by persons related to a target corporation, contingent debt instruments, and debt instruments convertible into stock or other property. Can i file my 2011 taxes in 2013 Property of a kind that would properly be included in inventory if on hand at the end of the tax year or property held by the taxpayer primarily for sale to customers in the ordinary course of business. Can i file my 2011 taxes in 2013 All other assets except section 197 intangibles. Can i file my 2011 taxes in 2013 Section 197 intangibles except goodwill and going concern value. Can i file my 2011 taxes in 2013 Goodwill and going concern value (whether or not they qualify as section 197 intangibles). Can i file my 2011 taxes in 2013   If an asset described in (1) through (6) is includible in more than one category, include it in the lower number category. Can i file my 2011 taxes in 2013 For example, if an asset is described in both (4) and (6), include it in (4). Can i file my 2011 taxes in 2013 Agreement. Can i file my 2011 taxes in 2013   The buyer and seller may enter into a written agreement as to the allocation of any consideration or the fair market value of any of the assets. Can i file my 2011 taxes in 2013 This agreement is binding on both parties unless the IRS determines the amounts are not appropriate. Can i file my 2011 taxes in 2013 Reporting requirement. Can i file my 2011 taxes in 2013   Both the buyer and seller involved in the sale of business assets must report to the IRS the allocation of the sales price among section 197 intangibles and the other business assets. Can i file my 2011 taxes in 2013 Use Form 8594, Asset Acquisition Statement Under Section 1060, to provide this information. Can i file my 2011 taxes in 2013 The buyer and seller should each attach Form 8594 to their federal income tax return for the year in which the sale occurred. Can i file my 2011 taxes in 2013 Sale of Partnership Interest A partner who sells a partnership interest at a gain may be able to report the sale on the installment method. Can i file my 2011 taxes in 2013 The sale of a partnership interest is treated as the sale of a single capital asset. Can i file my 2011 taxes in 2013 The part of any gain or loss from unrealized receivables or inventory items will be treated as ordinary income. Can i file my 2011 taxes in 2013 (The term “unrealized receivables” includes depreciation recapture income, discussed earlier. Can i file my 2011 taxes in 2013 ) The gain allocated to the unrealized receivables and the inventory cannot be reported under the installment method. Can i file my 2011 taxes in 2013 The gain allocated to the other assets can be reported under the installment method. Can i file my 2011 taxes in 2013 For more information on the treatment of unrealized receivables and inventory, see Publication 541. Can i file my 2011 taxes in 2013 Example — Sale of a Business On June 4, 2013, you sold the machine shop you had operated since 2005. Can i file my 2011 taxes in 2013 You received a $100,000 down payment and the buyer's note for $120,000. Can i file my 2011 taxes in 2013 The note payments are $15,000 each, plus 10% interest, due every July 1 and January 1, beginning in 2014. Can i file my 2011 taxes in 2013 The total selling price is $220,000. Can i file my 2011 taxes in 2013 Your selling expenses are $11,000. Can i file my 2011 taxes in 2013 The selling expenses are divided among all the assets sold, including inventory. Can i file my 2011 taxes in 2013 Your selling expense for each asset is 5% of the asset's selling price ($11,000 selling expense ÷ $220,000 total selling price). Can i file my 2011 taxes in 2013 The FMV, adjusted basis, and depreciation claimed on each asset sold are as follows:     Depre- ciation Adj. Can i file my 2011 taxes in 2013 Asset FMV Claimed Basis Inventory $ 10,000 -0- $ 8,000 Land 42,000 -0- 15,000 Building 48,000 $9,000 36,000 Machine A 71,000 27,200 63,800 Machine B 24,000 12,960 22,040 Truck 6,500 18,624 5,376   $201,500 $67,784 $150,216         Under the residual method, you allocate the selling price to each of the assets based on their FMV ($201,500). Can i file my 2011 taxes in 2013 The remaining $18,500 ($220,000 - $201,500) is allocated to your section 197 intangible, goodwill. Can i file my 2011 taxes in 2013 The assets included in the sale, their selling prices based on their FMVs, the selling expense allocated to each asset, the adjusted basis, and the gain for each asset are shown in the following chart. Can i file my 2011 taxes in 2013   Sale  Price Sale   Exp. Can i file my 2011 taxes in 2013 Adj. Can i file my 2011 taxes in 2013   Basis Gain Inventory $ 10,000 $ 500 $ 8,000 $ 1,500 Land 42,000 2,100 15,000 24,900 Building 48,000 2,400 36,000 9,600 Mch. Can i file my 2011 taxes in 2013 A 71,000 3,550 63,800 3,650 Mch. Can i file my 2011 taxes in 2013 B 24,000 1,200 22,040 760 Truck 6,500 325 5,376 799 Goodwill 18,500 925 -0- 17,575   $220,000 $11,000 $150,216 $58,784 The building was acquired in 2005, the year the business began, and it is section 1250 property. Can i file my 2011 taxes in 2013 There is no depreciation recapture income because the building was depreciated using the straight line method. Can i file my 2011 taxes in 2013 All gain on the truck, machine A, and machine B is depreciation recapture income since it is the lesser of the depreciation claimed or the gain on the sale. Can i file my 2011 taxes in 2013 Figure depreciation recapture in Part III of Form 4797. Can i file my 2011 taxes in 2013 The total depreciation recapture income reported in Part II of Form 4797 is $5,209. Can i file my 2011 taxes in 2013 This consists of $3,650 on machine A, $799 on the truck, and $760 on machine B (the gain on each item because it was less than the depreciation claimed). Can i file my 2011 taxes in 2013 These gains are reported in full in the year of sale and are not included in the installment sale computation. Can i file my 2011 taxes in 2013 Of the $220,000 total selling price, the $10,000 for inventory assets cannot be reported using the installment method. Can i file my 2011 taxes in 2013 The selling prices of the truck and machines are also removed from the total selling price because gain on these items is reported in full in the year of sale. Can i file my 2011 taxes in 2013 The selling price equals the contract price for the installment sale ($108,500). Can i file my 2011 taxes in 2013 The assets included in the installment sale, their selling price, and their installment sale bases are shown in the following chart. Can i file my 2011 taxes in 2013   Selling  Price Install- ment  Sale  Basis Gross  Profit Land $ 42,000 $17,100 $24,900 Building 48,000 38,400 9,600 Goodwill 18,500 925 17,575 Total $108,500 $56,425 $52,075         The gross profit percentage (gross profit ÷ contract price) for the installment sale is 48% ($52,075 ÷ $108,500). Can i file my 2011 taxes in 2013 The gross profit percentage for each asset is figured as follows: Percentage Land— $24,900 ÷ $108,500 22. Can i file my 2011 taxes in 2013 95 Building— $9,600 ÷ $108,500 8. Can i file my 2011 taxes in 2013 85 Goodwill— $17,575 ÷ $108,500 16. Can i file my 2011 taxes in 2013 20 Total 48. Can i file my 2011 taxes in 2013 00 The sale includes assets sold on the installment method and assets for which the gain is reported in full in the year of sale, so payments must be allocated between the installment part of the sale and the part reported in the year of sale. Can i file my 2011 taxes in 2013 The selling price for the installment sale is $108,500. Can i file my 2011 taxes in 2013 This is 49. Can i file my 2011 taxes in 2013 3% of the total selling price of $220,000 ($108,500 ÷ $220,000). Can i file my 2011 taxes in 2013 The selling price of assets not reported on the installment method is $111,500. Can i file my 2011 taxes in 2013 This is 50. Can i file my 2011 taxes in 2013 7% ($111,500 ÷ $220,000) of the total selling price. Can i file my 2011 taxes in 2013 Multiply principal payments by 49. Can i file my 2011 taxes in 2013 3% to determine the part of the payment for the installment sale. Can i file my 2011 taxes in 2013 The balance, 50. Can i file my 2011 taxes in 2013 7%, is for the part reported in the year of the sale. Can i file my 2011 taxes in 2013 The gain on the sale of the inventory, machines, and truck is reported in full in the year of sale. Can i file my 2011 taxes in 2013 When you receive principal payments in later years, no part of the payment for the sale of these assets is included in gross income. Can i file my 2011 taxes in 2013 Only the part for the installment sale (49. Can i file my 2011 taxes in 2013 3%) is used in the installment sale computation. Can i file my 2011 taxes in 2013 The only payment received in 2013 is the down payment of $100,000. Can i file my 2011 taxes in 2013 The part of the payment for the installment sale is $49,300 ($100,000 × 49. Can i file my 2011 taxes in 2013 3%). Can i file my 2011 taxes in 2013 This amount is used in the installment sale computation. Can i file my 2011 taxes in 2013 Installment income for 2013. Can i file my 2011 taxes in 2013   Your installment income for each asset is the gross profit percentage for that asset times $49,300, the installment income received in 2013. Can i file my 2011 taxes in 2013 Income Land—22. Can i file my 2011 taxes in 2013 95% of $49,300 $11,314 Building—8. Can i file my 2011 taxes in 2013 85% of $49,300 4,363 Goodwill—16. Can i file my 2011 taxes in 2013 2% of $49,300 7,987 Total installment income for 2013 $23,664 Installment income after 2013. Can i file my 2011 taxes in 2013   You figure installment income for years after 2013 by applying the same gross profit percentages to 49. Can i file my 2011 taxes in 2013 3% of the total payments you receive on the buyer's note during the year. Can i file my 2011 taxes in 2013 Unstated Interest and Original Issue Discount (OID) An installment sale contract may provide that each deferred payment on the sale will include interest or that there will be an interest payment in addition to the principal payment. Can i file my 2011 taxes in 2013 Interest provided in the contract is called stated interest. Can i file my 2011 taxes in 2013 If an installment sale contract does not provide for adequate stated interest, part of the stated principal amount of the contract may be recharacterized as interest. Can i file my 2011 taxes in 2013 If section 483 applies to the contract, this interest is called unstated interest. Can i file my 2011 taxes in 2013 If section 1274 applies to the contract, this interest is called original issue discount (OID). Can i file my 2011 taxes in 2013 An installment sale contract does not provide for adequate stated interest if the stated interest rate is lower than the test rate (defined later). Can i file my 2011 taxes in 2013 Treatment of unstated interest and OID. Can i file my 2011 taxes in 2013   Generally, if a buyer gives a debt in consideration for personal use property, the unstated interest rules do not apply. Can i file my 2011 taxes in 2013 As a result, the buyer cannot deduct the unstated interest. Can i file my 2011 taxes in 2013 The seller must report the unstated interest as income. Can i file my 2011 taxes in 2013   Personal-use property is any property in which substantially all of its use by the buyer is not in connection with a trade or business or an investment activity. Can i file my 2011 taxes in 2013   If the debt is subject to the section 483 rules and is also subject to the below-market loan rules, such as a gift loan, compensation-related loan, or corporation-shareholder loan, then both parties are subject to the below-market loan rules rather than the unstated interest rules. Can i file my 2011 taxes in 2013 Rules for the seller. Can i file my 2011 taxes in 2013   If either section 1274 or section 483 applies to the installment sale contract, you must treat part of the installment sale price as interest, even though interest is not called for in the sales agreement. Can i file my 2011 taxes in 2013 If either section applies, you must reduce the stated selling price of the property and increase your interest income by this unstated interest. Can i file my 2011 taxes in 2013   Include the unstated interest in income based on your regular method of accounting. Can i file my 2011 taxes in 2013 Include OID in income over the term of the contract. Can i file my 2011 taxes in 2013   The OID includible in income each year is based on the constant yield method described in section 1272. Can i file my 2011 taxes in 2013 (In some cases, the OID on an installment sale contract also may include all or part of the stated interest, especially if the stated interest is not paid at least annually. Can i file my 2011 taxes in 2013 )   If you do not use the installment method to report the sale, report the entire gain under your method of accounting in the year of sale. Can i file my 2011 taxes in 2013 Reduce the selling price by any stated principal treated as interest to determine the gain. Can i file my 2011 taxes in 2013   Report unstated interest or OID on your tax return, in addition to stated interest. Can i file my 2011 taxes in 2013 Rules for the buyer. Can i file my 2011 taxes in 2013   Any part of the stated selling price of an installment sale contract treated by the buyer as interest reduces the buyer's basis in the property and increases the buyer's interest expense. Can i file my 2011 taxes in 2013 These rules do not apply to personal-use property (for example, property not used in a trade or business). Can i file my 2011 taxes in 2013 Adequate stated interest. Can i file my 2011 taxes in 2013   An installment sale contract generally provides for adequate stated interest if the contract's stated principal amount is at least equal to the sum of the present values of all principal and interest payments called for under the contract. Can i file my 2011 taxes in 2013 The present value of a payment is determined based on the test rate of interest, defined next. Can i file my 2011 taxes in 2013 (If section 483 applies to the contract, payments due within six months after the sale are taken into account at face value. Can i file my 2011 taxes in 2013 ) In general, an installment sale contract provides for adequate stated interest if the stated interest rate (based on an appropriate compounding period) is at least equal to the test rate of interest. Can i file my 2011 taxes in 2013 Test rate of interest. Can i file my 2011 taxes in 2013   The test rate of interest for a contract is the 3-month rate. Can i file my 2011 taxes in 2013 The 3-month rate is the lower of the following applicable federal rates (AFRs). Can i file my 2011 taxes in 2013 The lowest AFR (based on the appropriate compounding period) in effect during the 3-month period ending with the first month in which there is a binding written contract that substantially provides the terms under which the sale or exchange is ultimately completed. Can i file my 2011 taxes in 2013 The lowest AFR (based on the appropriate compounding period) in effect during the 3-month period ending with the month in which the sale or exchange occurs. Can i file my 2011 taxes in 2013 Applicable federal rate (AFR). Can i file my 2011 taxes in 2013   The AFR depends on the month the binding

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What to Bring to Your Local VITA or TCE Site

  • Proof of identification (photo ID)
     
  • Social Security cards for you, your spouse and dependents or a Social Security number verification letter issued by the Social Security Administration
     
  • An Individual Taxpayer Identification Number (ITIN) assignment letter may be substituted for you, your spouse and your dependents if you do not have a Social Security number
     
  • Proof of foreign status, if applying for an ITIN
     
  • Birth dates for you, your spouse and dependents on the tax return
     
  • Wage and earning statements (Form W-2, W-2G, 1099-R,1099-Misc) from all employers
     
  • Interest and dividend statements from banks (Forms 1099)
     
  • A copy of last year’s federal and state returns, if available
     
  • Proof of bank account routing and account numbers for direct deposit such as a blank check
     
  • To file taxes electronically on a married-filing-joint tax return, both spouses must be present to sign the required forms
     
  • Total paid for daycare provider and the daycare provider's tax identifying number such as their Social Security number or business Employer Identification Number
Page Last Reviewed or Updated: 25-Mar-2014

The Can I File My 2011 Taxes In 2013

Can i file my 2011 taxes in 2013 2. Can i file my 2011 taxes in 2013   Estado Civil para Efectos de la Declaración Table of Contents Qué Hay de Nuevo Introduction Useful Items - You may want to see: Estado CivilPersonas divorciadas. Can i file my 2011 taxes in 2013 Divorcio y nuevo matrimonio. Can i file my 2011 taxes in 2013 Matrimonios anulados. Can i file my 2011 taxes in 2013 Cabeza de familia o viudo que reúne los requisitos con hijo dependiente. Can i file my 2011 taxes in 2013 Personas consideradas casadas. Can i file my 2011 taxes in 2013 Matrimonio del mismo sexo. Can i file my 2011 taxes in 2013 Cónyuge fallecido durante el año. Can i file my 2011 taxes in 2013 Personas casadas que viven separadas. Can i file my 2011 taxes in 2013 Soltero Casados que Presentan una Declaración ConjuntaPresentación de una Declaración Conjunta Casados que Presentan la Declaración por SeparadoReglas Especiales Cabeza de FamiliaPersonas Consideradas no Casadas Personas que Mantienen una Vivienda Persona Calificada Viudo que Reúne los Requisitos con Hijo Dependiente Qué Hay de Nuevo Estado civil para efectos de la declaración de parejas del mismo sexo. Can i file my 2011 taxes in 2013  Si tiene un cónyuge que es del mismo sexo de usted y con quien se casó en un estado (o país extranjero) que reconoce legalmente el matrimonio entre personas del mismo sexo, usted y su cónyuge, por lo general, tendrán que utilizar el estado civil para efectos de la declaración de “casado que presenta una declaración conjunta” o “casado que presenta una declaración por separado” en su declaración de impuestos que corresponde al año 2013, aun si usted y su cónyuge viven ahora en un estado (o país extranjero) que no reconoce legalmente el matrimonio entre personas del mismo sexo. Can i file my 2011 taxes in 2013 Vea Matrimonio del mismo sexo bajo Estado Civil, más adelante. Can i file my 2011 taxes in 2013 Introduction Este capítulo le ayuda a determinar qué estado civil debe usar para efectos de la declaración. Can i file my 2011 taxes in 2013 Hay cinco estados civiles para efectos de la declaración: Soltero. Can i file my 2011 taxes in 2013 Casado que presenta una declaración conjunta. Can i file my 2011 taxes in 2013 Casado que presenta una declaración por separado. Can i file my 2011 taxes in 2013 Cabeza de familia. Can i file my 2011 taxes in 2013 Viudo que reúne los requisitos con hijo dependiente. Can i file my 2011 taxes in 2013 Si reúne los requisitos para más de un estado civil, elija el que le permita pagar menos impuestos. Can i file my 2011 taxes in 2013 Tiene que determinar su estado civil para efectos de la declaración antes de determinar si tiene que presentar una declaración de impuestos (capítulo 1), su deducción estándar (capítulo 20) y su impuesto correcto (capítulo 30). Can i file my 2011 taxes in 2013 También utilizará el estado civil para determinar si reúne los requisitos o no para reclamar ciertas deducciones y créditos. Can i file my 2011 taxes in 2013 Useful Items - You may want to see: Publicación 501 Exemptions, Standard Deduction, and Filing Information (Exenciones, deducción estándar e información para la presentación de la declaración), en inglés 519 U. Can i file my 2011 taxes in 2013 S. Can i file my 2011 taxes in 2013 Tax Guide for Aliens (Guía sobre los impuestos federales estadounidenses para extranjeros), en inglés 555 Community Property (Bienes gananciales), en inglés Estado Civil Por lo general, su estado civil para efectos de la declaración depende de si a usted se le considera casado o no casado. Can i file my 2011 taxes in 2013 Personas no casadas. Can i file my 2011 taxes in 2013   Se le considera no casado durante todo el año si, en el último día de su año tributario, usted no está casado o está legalmente separado de su cónyuge por decreto de divorcio o de manutención por separación. Can i file my 2011 taxes in 2013 La ley estatal es la que rige al determinar si está casado o legalmente separado por decreto de divorcio o de manutención por separación. Can i file my 2011 taxes in 2013 Personas divorciadas. Can i file my 2011 taxes in 2013   Si está divorciado por decreto final de divorcio para el último día del año, a usted se le considera no casado por todo el año. Can i file my 2011 taxes in 2013 Divorcio y nuevo matrimonio. Can i file my 2011 taxes in 2013   Si se divorcian con el fin exclusivo de presentar declaraciones de impuestos como no casados y en el momento de efectuarse el divorcio usted y su cónyuge tienen la intención de volverse a casar, y así lo hicieron en el año tributario siguiente, usted y su cónyuge están obligados a presentar la declaración como casados en los dos años. Can i file my 2011 taxes in 2013 Matrimonios anulados. Can i file my 2011 taxes in 2013    Si obtiene de un tribunal un decreto de anulación de matrimonio que establezca que nunca existió matrimonio válido alguno, se le considera no casado aun si ha presentado declaraciones conjuntas en años anteriores. Can i file my 2011 taxes in 2013 Tiene que presentar una declaración enmendada (Formulario 1040X, Amended U. Can i file my 2011 taxes in 2013 S. Can i file my 2011 taxes in 2013 Individual Income Tax Return (Declaración enmendada del impuesto federal sobre el ingreso)), en inglés, declarando su estado civil de soltero o cabeza de familia para todos los años tributarios afectados por la anulación de matrimonio que no estén excluídos por la ley de prescripción para presentar una declaración de impuestos. Can i file my 2011 taxes in 2013 Por lo general, para un crédito o reembolso, tiene que presentar el Formulario 1040X dentro de 3 años (incluyendo extensiones) después de la fecha en que presentó su declaración original, o dentro de 2 años después de la fecha en que pagó el impuesto, lo que sea más tarde. Can i file my 2011 taxes in 2013 Si presentó la declaración original con anticipación (por ejemplo, el 1 de marzo), se considera que su declaración se presentó en la fecha de vencimiento (por lo general el 15 de abril). Can i file my 2011 taxes in 2013 Sin embargo, si tiene una extensión para presentar la declaración (por ejemplo, el 15 de octubre), pero la presentó con anticipación y la recibimos el 1 de julio, se considera que su declaración se presentó el 1 de julio. Can i file my 2011 taxes in 2013 Cabeza de familia o viudo que reúne los requisitos con hijo dependiente. Can i file my 2011 taxes in 2013   Si a usted se le considera no casado, podría presentar la declaración como cabeza de familia o como viudo que reúne los requisitos con hijo dependiente. Can i file my 2011 taxes in 2013 Vea Cabeza de Familia y Viudo que Reúne los Requisitos con Hijo Dependiente para saber si reúne los requisitos. Can i file my 2011 taxes in 2013 Personas casadas. Can i file my 2011 taxes in 2013   Si se le considera casado, usted y su cónyuge pueden presentar una declaración conjunta o declaraciones por separado. Can i file my 2011 taxes in 2013 Personas consideradas casadas. Can i file my 2011 taxes in 2013   A usted se le considera casado si, en el último día de su año tributario, usted y su cónyuge cumplen cualquiera de las siguientes condiciones: Están casados y viven juntos como cónyuges. Can i file my 2011 taxes in 2013 Viven juntos por matrimonio de hecho reconocido en el estado en que viven o en el estado en que el matrimonio de hecho comenzó. Can i file my 2011 taxes in 2013 Están casados y viven separados, pero no están legalmente separados por decreto de divorcio o de manutención por separación. Can i file my 2011 taxes in 2013 Están separados por un decreto provisional (o sea, que no es final) de divorcio. Can i file my 2011 taxes in 2013 Para propósitos de una declaración conjunta, a usted no se le considera divorciado. Can i file my 2011 taxes in 2013 Matrimonio del mismo sexo. Can i file my 2011 taxes in 2013   Para propósitos tributarios federales, se consideran como casadas a las personas del mismo sexo que se casaron legalmente en un estado (o país extranjero) cuyas leyes autorizan el matrimonio entre dos personas del mismo sexo, aun si el estado en el que viven actualmente dichas personas no reconoce el matrimonio entre personas del mismo sexo. Can i file my 2011 taxes in 2013 El término “cónyuge” incluye a un individuo que está casado con una persona de su mismo sexo si la pareja está legalmente casada conforme a la ley estatal (o extranjera). Can i file my 2011 taxes in 2013 Sin embargo, las personas que están en una sociedad doméstica (“ domestic partnership ”), unión civil u otra relación semejante que no es considerada un matrimonio conforme a las leyes estatales (o extranjeras) no están consideradas como casadas para propósitos tributarios federales. Can i file my 2011 taxes in 2013 Para más detalles, consulte la Publicación 501, en inglés. Can i file my 2011 taxes in 2013 Cónyuge fallecido durante el año. Can i file my 2011 taxes in 2013   Si su cónyuge falleció durante el año, a usted se le considera casado todo el año para efectos del estado civil en la declaración. Can i file my 2011 taxes in 2013   Si no se ha vuelto a casar antes de terminar el año tributario, puede presentar una declaración conjunta en nombre suyo y de su cónyuge fallecido. Can i file my 2011 taxes in 2013 También podría tener derecho, durante los 2 años siguientes, a los beneficios especiales que se explican más adelante en la sección titulada Viudo que Reúne los Requisitos con Hijo Dependiente . Can i file my 2011 taxes in 2013   Si se ha vuelto a casar antes de terminar el año tributario, puede presentar una declaración conjunta con su nuevo cónyuge. Can i file my 2011 taxes in 2013 El estado civil para efectos de la declaración de su cónyuge fallecido será el de casado que presenta una declaración por separado para dicho año. Can i file my 2011 taxes in 2013 Personas casadas que viven separadas. Can i file my 2011 taxes in 2013   Si usted vive separado de su cónyuge y satisface ciertos requisitos quizás pueda presentar la declaración como cabeza de familia aunque no esté divorciado o legalmente separado. Can i file my 2011 taxes in 2013 Si reúne los requisitos para presentar la declaración como cabeza de familia en vez de casado que presenta la declaración por separado, la cantidad correspondiente a su deducción estándar será mayor. Can i file my 2011 taxes in 2013 Además, el impuesto correspondiente podría ser menor y es posible que pueda reclamar el crédito por ingreso del trabajo. Can i file my 2011 taxes in 2013 Vea más adelante Cabeza de Familia . Can i file my 2011 taxes in 2013 Soltero Su estado civil para efectos de la declaración es soltero si se considera que no está casado y no reúne los requisitos para otro estado civil. Can i file my 2011 taxes in 2013 Para determinar su estado civil vea el apartado anterior titulado Estado Civil . Can i file my 2011 taxes in 2013 Viudo. Can i file my 2011 taxes in 2013   Podría declarar el estado civil de soltero si antes del 1 de enero del año 2013 enviudó y no se volvió a casar antes de finalizar el año 2013. Can i file my 2011 taxes in 2013 No obstante, quizás pueda utilizar otro estado civil que le permita pagar menos impuestos. Can i file my 2011 taxes in 2013 Vea Cabeza de Familia y Viudo que Reúne los Requisitos con Hijo Dependiente , más adelante, para determinar si reúne los requisitos. Can i file my 2011 taxes in 2013 Cómo presentar la declaración. Can i file my 2011 taxes in 2013   Puede presentar el Formulario 1040. Can i file my 2011 taxes in 2013 Si tiene ingresos sujetos a impuestos menores de $100,000, quizá podría presentar el Formulario 1040A. Can i file my 2011 taxes in 2013 Además, si usted no tiene dependientes y tiene menos de 65 años de edad, no es ciego y cumple otros requisitos, puede presentar el Formulario 1040EZ. Can i file my 2011 taxes in 2013 Si presenta el Formulario 1040A o el Formulario 1040, indique su estado civil de soltero marcando el recuadro de la línea 1. Can i file my 2011 taxes in 2013 Utilice la columna de Soltero en la Tabla de Impuestos o la Sección A de la Hoja de Trabajo para el Cálculo del Impuesto, para calcular su impuesto. Can i file my 2011 taxes in 2013 Casados que Presentan una Declaración Conjunta Puede elegir el estado civil de casado que presenta una declaración conjunta si se le considera casado y usted y su cónyuge deciden presentar una declaración conjunta. Can i file my 2011 taxes in 2013 En dicha declaración, usted y su cónyuge incluyen la suma de sus ingresos y deducen la suma de sus gastos permisibles. Can i file my 2011 taxes in 2013 Puede presentar una declaración conjunta aunque uno de ustedes no tuviera ingresos ni deducciones. Can i file my 2011 taxes in 2013 Si usted y su cónyuge deciden presentar una declaración conjunta, es posible que sus impuestos sean menores que la suma de los impuestos de los otros estados civiles. Can i file my 2011 taxes in 2013 Además, su deducción estándar (si no detallan sus deducciones) podría ser mayor y podrían reunir los requisitos para recibir beneficios tributarios no aplicables a otros estados civiles para efectos de la declaración. Can i file my 2011 taxes in 2013 Si usted y su cónyuge tienen ingresos, quizás les convendría calcular el impuesto en una declaración conjunta y en declaraciones separadas (usando el estado civil de casado que presenta la declaración por separado). Can i file my 2011 taxes in 2013 Pueden escoger el método que les permita pagar la menor cantidad de impuesto en total. Can i file my 2011 taxes in 2013 Cómo presentar la declaración. Can i file my 2011 taxes in 2013   Si está casado y presenta la declaración conjunta, puede utilizar el Formulario 1040. Can i file my 2011 taxes in 2013 Si usted y su cónyuge tienen ingresos sujetos a impuestos menores de $100,000, quizá podría presentar el Formulario 1040A. Can i file my 2011 taxes in 2013 Además, si usted o su cónyuge no tienen dependientes, ambos tienen menos de 65 años de edad, no están ciegos y cumplen otros requisitos, pueden presentar el Formulario 1040EZ. Can i file my 2011 taxes in 2013 Si presenta el Formulario 1040 o el Formulario 1040A, indique este estado civil marcando el recuadro de la línea 2. Can i file my 2011 taxes in 2013 Para calcular sus impuestos, utilice la columna correspondiente a Casado que presenta una declaración conjunta, la cual aparece en la Tabla de Impuestos o la Sección B de la Hoja de Trabajo para el Cálculo del Impuesto. Can i file my 2011 taxes in 2013 Cónyuge fallecido. Can i file my 2011 taxes in 2013   Si su cónyuge falleció durante el año, a usted se le considera casado todo el año y puede elegir el estado civil de casado que presenta una declaración conjunta. Can i file my 2011 taxes in 2013 Vea la sección anterior titulada Cónyuge fallecido durante el año , bajo Estado Civil, para más información. Can i file my 2011 taxes in 2013   Si su cónyuge falleció en 2014 antes de presentar la declaración de 2013, para efectos de la declaración de 2013 puede elegir casado que presenta la declaración conjunta. Can i file my 2011 taxes in 2013 Personas divorciadas. Can i file my 2011 taxes in 2013   Si para el último día del año usted está divorciado conforme a un decreto definitivo de divorcio, se le considerará no casado durante todo el año y no podrá utilizar la clasificación de casado que presenta declaración conjunta como estado civil para efectos de la declaración de impuestos. Can i file my 2011 taxes in 2013 Presentación de una Declaración Conjunta Usted y su cónyuge tienen que incluir todos sus ingresos, exenciones y deducciones en la declaración conjunta. Can i file my 2011 taxes in 2013 Período contable. Can i file my 2011 taxes in 2013   Usted y su cónyuge tienen que utilizar el mismo período contable, pero pueden usar diferentes métodos contables. Can i file my 2011 taxes in 2013 Vea Períodos Contables y Métodos Contables , en el capítulo 1. Can i file my 2011 taxes in 2013 Responsabilidad conjunta. Can i file my 2011 taxes in 2013   Usted y su cónyuge pueden ser responsables, individual y conjuntamente, del impuesto y todos los intereses o multas por pagar en su declaración conjunta. Can i file my 2011 taxes in 2013 Esto significa que si un cónyuge no paga el impuesto adeudado, el otro puede ser responsable de pagarlo. Can i file my 2011 taxes in 2013 O, si un cónyuge no informa el impuesto correcto, ambos cónyuges puede que sean responsables por todo impuesto adicional determinado por el IRS. Can i file my 2011 taxes in 2013 Un cónyuge puede ser responsable de todo el impuesto adeudado, aunque dichos ingresos provengan del trabajo del otro cónyuge. Can i file my 2011 taxes in 2013   Puede que usted quiera presentar la declaración por separado si: usted cree que su cónyuge no está declarando todo el impuesto de él o ella, o usted no quiere ser responsable de todo el impuesto que su cónyuge adeude si a su cónyuge no se le retiene suficiente impuesto o no paga suficiente impuesto estimado. Can i file my 2011 taxes in 2013 Contribuyente divorciado. Can i file my 2011 taxes in 2013   Usted podría ser individual y conjuntamente responsable de todo impuesto, además de todos los intereses y multas adeudados en una declaración conjunta presentada antes de su divorcio. Can i file my 2011 taxes in 2013 Esta responsabilidad puede ser aplicable aun en el caso en que su decreto de divorcio establezca que su ex cónyuge es responsable de toda cantidad adeudada correspondiente a declaraciones de impuestos conjuntas presentadas anteriormente. Can i file my 2011 taxes in 2013 Alivio tributario en el caso de obligación conjunta. Can i file my 2011 taxes in 2013   En algunos casos, en una declaración conjunta, uno de los cónyuges puede ser exonerado de la responsabilidad conjunta de pagar impuestos, intereses y multas por cantidades correspondientes al otro cónyuge que fuesen declaradas incorrectamente en una declaración conjunta. Can i file my 2011 taxes in 2013 Usted puede solicitar el alivio de dicha obligación, por pequeña que sea la obligación. Can i file my 2011 taxes in 2013   Hay tres tipos de alivio tributario: Alivio de la responsabilidad tributaria del cónyuge inocente. Can i file my 2011 taxes in 2013 Separación de la obligación (disponible solamente a las personas que presenten una declaración conjunta y que sean divorciadas, viudas, legalmente separadas o que no hayan vivido juntas durante los 12 meses inmediatamente anteriores a la fecha en que se presente esta solicitud de alivio). Can i file my 2011 taxes in 2013 Alivio equitativo. Can i file my 2011 taxes in 2013    Tiene que presentar el Formulario 8857(SP), Solicitud para Alivio del Cónyuge Inocente, para solicitar cualquier alivio tributario de la responsabilidad conjunta. Can i file my 2011 taxes in 2013 En la Publicación 971, Innocent Spouse Relief (Alivio del cónyuge inocente), en inglés, puede encontrar información detallada sobre este tema, así como sobre quién reúne los requisitos para recibir dicho alivio. Can i file my 2011 taxes in 2013 Firma de la declaración conjunta. Can i file my 2011 taxes in 2013   Cada cónyuge está obligado, por lo general, a firmar la declaración. Can i file my 2011 taxes in 2013 De lo contrario, no se considerará declaración conjunta. Can i file my 2011 taxes in 2013 Si el cónyuge falleció antes de firmar la declaración. Can i file my 2011 taxes in 2013   Si su cónyuge falleció antes de firmar la declaración, el albacea o administrador tiene que firmar la declaración en nombre de dicho cónyuge. Can i file my 2011 taxes in 2013 Si ni usted ni otra persona ha sido todavía nombrado albacea o administrador, puede firmar la declaración en nombre de su cónyuge y escribir “ Filing as surviving spouse ” (Declarar como cónyuge sobreviviente) en el espacio donde firma la declaración. Can i file my 2011 taxes in 2013 Cónyuge ausente del hogar. Can i file my 2011 taxes in 2013   Si su cónyuge se encuentra ausente del hogar, usted debe preparar la declaración, firmarla y enviarla a su cónyuge para que la firme de manera que pueda presentarla a tiempo. Can i file my 2011 taxes in 2013 Impedimento para firmar la declaración debido a enfermedad o lesión. Can i file my 2011 taxes in 2013   Si su cónyuge no puede firmar por razón de enfermedad o lesión y le pide a usted que firme por él o ella, puede firmar el nombre de su cónyuge en el espacio correspondiente en la declaración seguido por las palabras “ By (su nombre), Husband (esposo) o Wife (esposa)”. Can i file my 2011 taxes in 2013 Asegúrese también de firmar en el espacio correspondiente a su firma. Can i file my 2011 taxes in 2013 Incluya un escrito fechado y firmado por usted junto con su declaración de impuestos. Can i file my 2011 taxes in 2013 Este escrito debe incluir el número del formulario que utiliza para presentar la declaración, el año tributario, la razón por la cual su cónyuge no puede firmar dicha declaración y debe especificar el consentimiento de su cónyuge para que firme por él o ella. Can i file my 2011 taxes in 2013 Si firma como tutor de su cónyuge. Can i file my 2011 taxes in 2013   Si es tutor de su cónyuge, el cual se encuentra mentalmente incapacitado, usted puede firmar la declaración por esa persona como tutor. Can i file my 2011 taxes in 2013 Cónyuge en zona de combate. Can i file my 2011 taxes in 2013   Puede firmar una declaración conjunta si su cónyuge no puede firmar la declaración porque está en una zona de combate (como el área del Golfo Pérsico, Serbia, Montenegro, Albania o Afganistán), aunque usted no tenga un poder legal u otro tipo de autorización escrita. Can i file my 2011 taxes in 2013 Adjunte a su declaración de impuestos un escrito firmado explicando que su cónyuge está prestando servicios en una zona de combate. Can i file my 2011 taxes in 2013 Para más información sobre los requisitos tributarios especiales para personas que estén prestando servicios en una zona de combate, o que hayan sido declaradas desaparecidas en una zona de combate, vea la Publicación 3, Armed Forces' Tax Guide (Guía de impuestos para las Fuerzas Armadas), en inglés. Can i file my 2011 taxes in 2013 Otras razones por las cuales su cónyuge no puede firmar. Can i file my 2011 taxes in 2013    Si su cónyuge no puede firmar la declaración por cualquier otra razón, usted puede firmarla por él o ella únicamente si se le otorga un poder legal válido (un documento legal en el cual se le autoriza para actuar en nombre de su cónyuge). Can i file my 2011 taxes in 2013 Adjunte el poder legal (o una copia de éste) a su declaración de impuestos. Can i file my 2011 taxes in 2013 Para este propósito, puede utilizar el Formulario 2848(SP), Poder Legal y Declaración del Representante. Can i file my 2011 taxes in 2013 Extranjero no residente o extranjero con doble estado de residencia. Can i file my 2011 taxes in 2013   Por lo general, un cónyuge no puede presentar una declaración conjunta si uno de los cónyuges es extranjero no residente en cualquier momento durante el año tributario. Can i file my 2011 taxes in 2013 Sin embargo, si un cónyuge era extranjero no residente o extranjero con doble estado de residencia y estaba casado con un ciudadano o residente de los Estados Unidos al finalizar el año, ambos cónyuges pueden optar por presentar una declaración conjunta. Can i file my 2011 taxes in 2013 Si deciden presentar dicha declaración, a ambos se les considerará residentes de los Estados Unidos durante todo el año tributario. Can i file my 2011 taxes in 2013 Vea el capítulo 1 de la Publicación 519, en inglés. Can i file my 2011 taxes in 2013 Casados que Presentan la Declaración por Separado Si está casado, usted y su cónyuge pueden optar por usar el estado civil de casados que presentan la declaración por separado. Can i file my 2011 taxes in 2013 Pueden beneficiarse de este método si quieren responsabilizarse únicamente de su propio impuesto o si dicho impuesto resultara ser menor que el impuesto declarado en una declaración conjunta. Can i file my 2011 taxes in 2013 Si usted y su cónyuge no están de acuerdo en presentar la declaración conjunta, tiene que presentar su declaración por separado a menos que reúna los requisitos para el estado civil de cabeza de familia que se explica más adelante. Can i file my 2011 taxes in 2013 Puede elegir el estado civil de cabeza de familia si se le considera soltero porque vive separado de su cónyuge y reúne ciertos requisitos (explicados más adelante bajo Cabeza de Familia ). Can i file my 2011 taxes in 2013 Esto es aplicable a usted aunque no esté divorciado o legalmente separado. Can i file my 2011 taxes in 2013 Si reúne los requisitos para presentar la declaración como cabeza de familia en vez de casado que presenta la declaración por separado, es posible que pague menos impuestos, que pueda reclamar el crédito por ingreso del trabajo y otros créditos adicionales; además, su deducción estándar será mayor. Can i file my 2011 taxes in 2013 El estado civil de cabeza de familia le permite escoger la deducción estándar aunque su cónyuge opte por detallar sus deducciones. Can i file my 2011 taxes in 2013 Para información adicional, vea Cabeza de Familia , más adelante. Can i file my 2011 taxes in 2013 Usted, por lo general, pagará una suma mayor de impuestos en declaraciones separadas de lo que pagarían en una declaración conjunta por las razones detalladas en la sección Reglas Especiales , que aparece más adelante. Can i file my 2011 taxes in 2013 Sin embargo, a menos que usted y su cónyuge tengan que presentar declaraciones por separado, deben calcular sus impuestos de las dos maneras (en una declaración conjunta y en declaraciones separadas). Can i file my 2011 taxes in 2013 De esta manera, pueden asegurarse de utilizar el método mediante el cual paguen la menor cantidad de impuestos entre los dos. Can i file my 2011 taxes in 2013 Al calcular el monto combinado de los impuestos de ambos cónyuges, usted querrá tener en cuenta los impuestos estatales al igual que los impuestos federales. Can i file my 2011 taxes in 2013 Cómo presentar la declaración. Can i file my 2011 taxes in 2013   Si presenta una declaración por separado, normalmente declara únicamente su propio ingreso, exenciones, créditos y deducciones. Can i file my 2011 taxes in 2013 Puede declarar una exención por su cónyuge solamente si éste no recibe ingresos brutos, no presenta una declaración y no es dependiente de otro contribuyente. Can i file my 2011 taxes in 2013 Puede presentar el Formulario 1040. Can i file my 2011 taxes in 2013 Si tiene ingresos sujetos a impuestos menores de $100,000, quizá podría presentar el Formulario 1040A. Can i file my 2011 taxes in 2013 Elija este estado civil marcando el recuadro de la línea 3 de cualquiera de estos formularios. Can i file my 2011 taxes in 2013 Anote el nombre completo de su cónyuge y el número de Seguro Social (SSN, por sus siglas en inglés) o el número de identificación del contribuyente individual (ITIN, por sus siglas en inglés) de su cónyuge en los espacios provistos. Can i file my 2011 taxes in 2013 Si su cónyuge no tiene y no se le requiere tener un SSN o un ITIN, anote “ NRA ” (extranjero no residente, por sus siglas en inglés) en el espacio provisto para el SSN de su cónyuge. Can i file my 2011 taxes in 2013 Utilice la columna para Casado que presenta una declaración por separado en la Tabla de Impuestos o en la Sección C de la Hoja de Trabajo para el Cálculo del Impuesto para calcular su impuesto. Can i file my 2011 taxes in 2013 Reglas Especiales Si opta por usar el estado civil de casado que presenta la declaración por separado, corresponden las siguientes reglas especiales. Can i file my 2011 taxes in 2013 Debido a estas reglas especiales, por lo general usted pagará más impuestos en una declaración por separado de lo que pagaría si utilizara otro estado civil al cual tiene derecho. Can i file my 2011 taxes in 2013   Su tasa de impuestos generalmente es mayor que la de una declaración conjunta. Can i file my 2011 taxes in 2013 La cantidad de la exención para calcular el impuesto mínimo alternativo es la mitad de la cantidad permitida en una declaración conjunta. Can i file my 2011 taxes in 2013 No puede tomar el crédito por gastos de cuidado de hijos y dependientes en la mayoría de los casos y la cantidad que puede excluir del ingreso en un programa de ayuda del empleador para el cuidado de dependientes es un máximo de $2,500 (en vez de $5,000). Can i file my 2011 taxes in 2013 Si está legalmente separado de su cónyuge, o viven separados, quizás pueda presentar la declaración por separado y todavía tomar el crédito. Can i file my 2011 taxes in 2013 Para más información sobre estos gastos, el crédito y la exclusión, vea el capítulo 32. Can i file my 2011 taxes in 2013 No puede tomar el crédito por ingreso del trabajo. Can i file my 2011 taxes in 2013 No puede tomar la exclusión o crédito por gastos de adopción en la mayoría de los casos. Can i file my 2011 taxes in 2013 No puede tomar los créditos tributarios por enseñanza superior (el crédito de oportunidad para los estadounidenses y el crédito vitalicio por aprendizaje), declarar la deducción por intereses sobre un préstamo de estudios o las deducciones por matrícula y cuotas escolares. Can i file my 2011 taxes in 2013 No puede excluir ningún ingreso de intereses procedentes de un bono de ahorros de los Estados Unidos calificado que haya utilizado para gastos de enseñanza superior. Can i file my 2011 taxes in 2013 Si vivió con su cónyuge en algún momento durante el año tributario: No puede reclamar el crédito para ancianos o para personas incapacitadas y Tendrá que incluir en sus ingresos un porcentaje más grande de los beneficios del Seguro Social o beneficios equivalentes de la jubilación ferroviaria que haya recibido (hasta el 85%). Can i file my 2011 taxes in 2013 Los siguientes créditos y deducciones se reducen en el caso de niveles de ingreso que sean la mitad de lo que serían en una declaración conjunta: El crédito tributario por hijos, El crédito por aportaciones a cuentas de ahorros para la jubilación, La deducción por exenciones personales y Las deducciones detalladas. Can i file my 2011 taxes in 2013 Su deducción por pérdida de capital se limita a $1,500 (en vez de $3,000 en una declaración conjunta). Can i file my 2011 taxes in 2013 Si su cónyuge detalla sus deducciones, usted no puede reclamar la deducción estándar. Can i file my 2011 taxes in 2013 Si usted puede reclamar la deducción estándar, la cantidad básica de su deducción estándar es la mitad de la cantidad permitida en una declaración conjunta. Can i file my 2011 taxes in 2013 Límites del ingreso bruto ajustado. Can i file my 2011 taxes in 2013   Si su ingreso bruto ajustado (AGI, por sus siglas en inglés) en una declaración separada es menor de lo que hubiera podido ser en una declaración conjunta, usted podría deducir una cantidad mayor para ciertas deducciones limitadas por el ingreso bruto ajustado, tales como gastos médicos. Can i file my 2011 taxes in 2013 Arreglos de ahorros para la jubilación. Can i file my 2011 taxes in 2013   Es posible que no pueda deducir la totalidad o parte de sus aportaciones a un arreglo de ahorros tradicional para la jubilación (IRA, por sus siglas en inglés) si usted o su cónyuge estuvo cubierto por un plan de jubilación de su trabajo durante el año. Can i file my 2011 taxes in 2013 Su deducción se reduce o se elimina si sus ingresos sobrepasan cierta cantidad. Can i file my 2011 taxes in 2013 Esta cantidad es mucho menor para personas casadas que presentan la declaración por separado y que vivieron juntas en algún momento del año. Can i file my 2011 taxes in 2013 Para más información, vea ¿Cuánto se Puede Deducir? , en el capítulo 17. Can i file my 2011 taxes in 2013 Pérdidas de actividades de alquiler. Can i file my 2011 taxes in 2013   Si participó activamente en una actividad pasiva de alquiler de bienes raíces que haya generado una pérdida, normalmente puede deducir la pérdida de su ingreso no pasivo, hasta $25,000. Can i file my 2011 taxes in 2013 Esto se denomina “descuento especial”. Can i file my 2011 taxes in 2013 Sin embargo, las personas casadas que presentan declaraciones por separado que vivieron juntas en algún momento del año no pueden reclamar este descuento especial. Can i file my 2011 taxes in 2013 Las personas casadas que presentan declaraciones por separado que vivieron separadas en todo momento durante el año pueden obtener cada una por separado un descuento máximo especial de $12,500 por pérdidas de actividades pasivas de bienes raíces. Can i file my 2011 taxes in 2013 Vea Límites sobre las Pérdidas de Alquiler , en el capítulo 9. Can i file my 2011 taxes in 2013 Estados donde rige la ley de los bienes gananciales. Can i file my 2011 taxes in 2013   Si vive en Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington o Wisconsin y presenta una declaración por separado, es posible que sus ingresos se consideren ingresos por separado o ingresos como bienes gananciales para efectos del impuesto sobre el ingreso. Can i file my 2011 taxes in 2013 Vea la Publicación 555, en inglés. Can i file my 2011 taxes in 2013 Declaración Conjunta Después de Presentar Declaraciones por Separado Puede cambiar su estado civil para efectos de la declaración después de presentar una declaración por separado a una declaración conjunta presentando una declaración enmendada, utilizando el Formulario 1040X. Can i file my 2011 taxes in 2013 Por lo general, puede cambiar a una declaración conjunta en cualquier momento dentro de un plazo de 3 años a partir de la fecha límite para presentar la declaración o declaraciones separadas. Can i file my 2011 taxes in 2013 Este plazo no incluye prórroga alguna. Can i file my 2011 taxes in 2013 Una declaración separada incluye una declaración que usted o su cónyuge haya presentado con uno de los tres estados civiles siguientes: casado que presenta la declaración por separado, soltero o cabeza de familia. Can i file my 2011 taxes in 2013 Declaración por Separado Después de Presentar una Declaración Conjunta Una vez que hayan presentado una declaración conjunta, no podrán optar por presentar declaraciones por separado para ese año después de la fecha límite para presentar dicha declaración conjunta. Can i file my 2011 taxes in 2013 Excepción. Can i file my 2011 taxes in 2013   El representante personal de un fallecido puede cambiar la opción del cónyuge sobreviviente de presentar una declaración conjunta, presentando en su lugar una declaración por separado en nombre del fallecido. Can i file my 2011 taxes in 2013 El representante personal tiene hasta 1 año a partir de la fecha de vencimiento del plazo de entrega de la declaración (incluidas prórrogas) para hacer el cambio. Can i file my 2011 taxes in 2013 Vea la Publicación 559, Survivors, Executors, and Administrators (Sobrevivientes, albaceas y administradores), en inglés, para más información sobre la presentación de la declaración final para un fallecido. Can i file my 2011 taxes in 2013 Cabeza de Familia Puede presentar la declaración como cabeza de familia si cumple todos los requisitos siguientes: No está casado o “se le consideraba no casado” en el último día del año. Can i file my 2011 taxes in 2013 Vea Estado Civil , anteriormente y Personas Consideradas no Casadas , más adelante. Can i file my 2011 taxes in 2013 Pagó más de la mitad del costo de mantener una vivienda durante el año. Can i file my 2011 taxes in 2013 Una persona calificada vivió con usted en la vivienda durante más de la mitad del año (excepto por ausencias temporales, como para cursar estudios). Can i file my 2011 taxes in 2013 Sin embargo, si la “persona calificada” es su padre o madre dependiente, él o ella no tiene que vivir con usted. Can i file my 2011 taxes in 2013 Vea Regla especial para los padres , más adelante, en la sección titulada Persona Calificada. Can i file my 2011 taxes in 2013 Si reúne los requisitos para presentar la declaración como cabeza de familia, su tasa de impuesto será, por lo general, menor que las tasas para solteros o casados que presentan declaraciones por separado. Can i file my 2011 taxes in 2013 Usted recibirá, además, una deducción estándar mayor de la que recibiría si se basara en el estado civil de soltero o de casado que presenta una declaración por separado. Can i file my 2011 taxes in 2013 Hijos secuestrados. Can i file my 2011 taxes in 2013   Usted podría reunir los requisitos para presentar la declaración como cabeza de familia, aun cuando su hijo haya sido secuestrado. Can i file my 2011 taxes in 2013 Para más información, vea la Publicación 501, en inglés. Can i file my 2011 taxes in 2013 Cómo presentar la declaración. Can i file my 2011 taxes in 2013   Si presenta la declaración como cabeza de familia, puede utilizar el Formulario 1040. Can i file my 2011 taxes in 2013 Si tiene ingresos sujetos a impuestos menores de $100,000, quizá podría presentar el Formulario 1040A. Can i file my 2011 taxes in 2013 Indique su estado civil para efectos de la declaración marcando el recuadro de la línea 4 en cualquiera de estos formularios. Can i file my 2011 taxes in 2013 Utilice la columna Cabeza de familia en la Tabla de Impuestos o la Sección D de la Hoja de Trabajo para el Cálculo del Impuesto, para calcular su impuesto. Can i file my 2011 taxes in 2013 Personas Consideradas no Casadas Para tener derecho al estado civil de cabeza de familia, tiene que ser no casado o considerado no casado el último día del año. Can i file my 2011 taxes in 2013 Se le considera no casado el último día del año tributario si reúne todos los requisitos siguientes: Presenta una declaración separada, definida anteriormente en la sección titulada Declaración Conjunta Después de Presentar Declaraciones por Separado . Can i file my 2011 taxes in 2013 Pagó más de la mitad de los costos de mantenimiento de su vivienda durante el año tributario. Can i file my 2011 taxes in 2013 Su cónyuge no vivió con usted en la vivienda durante los últimos 6 meses del año tributario. Can i file my 2011 taxes in 2013 Se considera que su cónyuge ha vivido en la vivienda aun si él o ella se ausenta temporalmente debido a circunstancias especiales. Can i file my 2011 taxes in 2013 Vea más adelante Ausencias temporales , bajo Persona Calificada. Can i file my 2011 taxes in 2013 Su vivienda fue la residencia principal de su hijo, hijastro o hijo de crianza durante más de la mitad del año. Can i file my 2011 taxes in 2013 (Vea Vivienda de una persona calificada , bajo Persona Calificada, más adelante, para los requisitos aplicables al nacimiento, fallecimiento o ausencia temporal de un hijo durante el año). Can i file my 2011 taxes in 2013 Tiene que tener derecho a reclamar una exención por el hijo. Can i file my 2011 taxes in 2013 No obstante, usted cumple este requisito si no puede reclamar una exención por su hijo solamente porque el padre que no tiene la custodia puede declararlo basándose en los requisitos que se describen en Hijos de padres divorciados o separados (o padres que no viven juntos) bajo Hijo Calificado en el capítulo 3 o en Requisito de Manutención para Hijos de Padres Divorciados o Separados (o padres que no viven juntos) bajo Pariente Calificado en el capítulo 3. Can i file my 2011 taxes in 2013 Los requisitos generales para reclamar la exención por un dependiente se explican en el capítulo 3 bajo Exenciones por Dependientes . Can i file my 2011 taxes in 2013 Si se le considera casado por parte del año y vivió en un estado donde rige la ley de los bienes gananciales (indicado anteriormente bajo la sección titulada Casados que Presentan la Declaración por Separado), es posible que correspondan requisitos especiales para determinar su ingreso y sus gastos. Can i file my 2011 taxes in 2013 Vea la Publicación 555, en inglés, para más información. Can i file my 2011 taxes in 2013 Hoja de Trabajo 2-1. Can i file my 2011 taxes in 2013 Costo de Mantenimiento de la Vivienda   Cantidad que Usted Pagó Costo Total Impuestos sobre la propiedad $ $ Gastos por intereses hipotecarios     Alquiler     Gastos de servicios públicos     Mantenimiento y reparaciones     Seguro de la propiedad     Alimentos consumidos  en la vivienda     Otros gastos del hogar     Totales $ $ Menos la cantidad total que usted pagó   () Cantidad que otras personas pagaron   $ Si el total de lo que usted pagó es más de lo que otros pagaron, usted reúne el requisito de pagar más de la mitad del mantenimiento de la vivienda. Can i file my 2011 taxes in 2013 Cónyuge extranjero no residente. Can i file my 2011 taxes in 2013   Se le considera no casado para propósitos del estado civil de cabeza de familia si su cónyuge fue extranjero no residente en alguna parte del año y usted no opta por incluir a su cónyuge no residente en la declaración como extranjero residente. Can i file my 2011 taxes in 2013 No obstante, su cónyuge no es una persona calificada para fines del estado civil de cabeza de familia. Can i file my 2011 taxes in 2013 Usted tiene que tener otra persona calificada y reunir los demás requisitos necesarios para poder presentar la declaración como cabeza de familia. Can i file my 2011 taxes in 2013 Elección de incluir al cónyuge en la declaración como residente. Can i file my 2011 taxes in 2013   Se le considera casado si ha optado por incluir a su cónyuge en la declaración como extranjero residente. Can i file my 2011 taxes in 2013 Vea la Publicación 519, U. Can i file my 2011 taxes in 2013 S. Can i file my 2011 taxes in 2013 Tax Guide for Aliens (Guía sobre los impuestos estadounidenses para extranjeros), en inglés. Can i file my 2011 taxes in 2013 Personas que Mantienen una Vivienda Para tener derecho al estado civil de cabeza de familia para la declaración, tiene que pagar más de la mitad de los gastos de mantener la vivienda durante el año. Can i file my 2011 taxes in 2013 Para determinar si usted pagó más de la mitad del costo de mantener una vivienda, puede usar la Hoja de Trabajo 2-1, anteriormente. Can i file my 2011 taxes in 2013 Costos que se incluyen. Can i file my 2011 taxes in 2013   Incluya en los costos de mantenimiento de la vivienda, gastos como alquiler, intereses hipotecarios, impuestos sobre bienes raíces, seguro de la vivienda, reparaciones, servicios públicos y alimentos consumidos en la vivienda. Can i file my 2011 taxes in 2013   Si usó pagos recibidos bajo el programa Temporary Assistance for Needy Families (Asistencia Temporal para Familias Necesitadas (TANF, por sus siglas en inglés)) u otros programas de asistencia pública para pagar parte del costo de mantener su vivienda, no los puede incluir como dinero pagado. Can i file my 2011 taxes in 2013 No obstante, debe incluirlos en la totalidad del costo de mantener su vivienda para calcular si pagó más de la mitad del costo. Can i file my 2011 taxes in 2013 Costos que no se incluyen. Can i file my 2011 taxes in 2013   No incluya los costos de ropa, educación, tratamiento médico, vacaciones, seguro de vida o transporte. Can i file my 2011 taxes in 2013 Tampoco incluya el valor del alquiler de una vivienda de la cual usted es dueño ni el valor de los servicios prestados por usted o por un miembro de su hogar. Can i file my 2011 taxes in 2013 Persona Calificada Vea la Tabla 2-1 más adelante, para determinar quién es una persona calificada. Can i file my 2011 taxes in 2013 Toda persona no descrita en la Tabla 2-1 no es una persona calificada. Can i file my 2011 taxes in 2013 Ejemplo 1: hijo. Can i file my 2011 taxes in 2013 Su hijo, no casado, vivió con usted durante todo el año y tenía 18 años de edad al final del año. Can i file my 2011 taxes in 2013 Él no aportó más de la mitad de su propia manutención, ni cumple los requisitos para ser hijo calificado de otro contribuyente. Can i file my 2011 taxes in 2013 Por lo tanto, es el hijo calificado de usted (vea Hijo Calificado en el capítulo 3), ya que es soltero, es una persona calificada en la que usted puede basarse para presentar la declaración de impuestos como cabeza de familia. Can i file my 2011 taxes in 2013 Ejemplo 2: hijo no considerado persona calificada. Can i file my 2011 taxes in 2013 Los datos son iguales a los del Ejemplo 1, excepto que su hijo tenía 25 años de edad al finalizar el año y su ingreso bruto fue $5,000. Can i file my 2011 taxes in 2013 Debido a que su hijo no satisface el Requisito de Edad (explicado en el capítulo 3 bajo Hijo Calificado), su hijo no es considerado hijo calificado. Can i file my 2011 taxes in 2013 Debido a que él no satisface el Requisito del Ingreso Bruto (explicado bajo Pariente Calificado en el capítulo 3), él no es el pariente calificado de usted. Can i file my 2011 taxes in 2013 Por lo tanto, él no es una persona calificada en la que usted pueda basarse para presentar la declaración de impuestos como cabeza de familia. Can i file my 2011 taxes in 2013 Ejemplo 3: novia. Can i file my 2011 taxes in 2013 Su novia vivió con usted durante todo el año. Can i file my 2011 taxes in 2013 Aunque ella podría ser el pariente calificado de usted si reúne el requisito del ingreso bruto y el requisito de manutención (explicados en el capítulo 3), ella no es una persona calificada en la que usted pueda basarse para presentar la declaración de impuestos como cabeza de familia debido a que ella no está emparentada con usted en una de las maneras mencionadas bajo Parientes que no tienen que vivir con usted , en el capítulo 3. Can i file my 2011 taxes in 2013 Vea la Tabla 2-1 . Can i file my 2011 taxes in 2013 Ejemplo 4: el hijo de su novia. Can i file my 2011 taxes in 2013 Los datos son iguales a los del Ejemplo 3 , excepto que el hijo de su novia, el cual tiene 10 años de edad, también vivió con usted durante todo el año. Can i file my 2011 taxes in 2013 No es el hijo calificado de usted y, ya que es el hijo calificado de su novia, tampoco es el pariente calificado de usted (vea el Requisito de no ser Hijo Calificado en el capítulo 3). Can i file my 2011 taxes in 2013 Por lo tanto, no es una persona calificada en la que usted pueda basarse para presentar la declaración de impuestos como cabeza de familia. Can i file my 2011 taxes in 2013 Vivienda de una persona calificada. Can i file my 2011 taxes in 2013   Por lo general, la persona calificada tiene que vivir con usted durante más de la mitad del año. Can i file my 2011 taxes in 2013 Regla especial para los padres. Can i file my 2011 taxes in 2013   Si la persona calificada es su padre o su madre, podría tener derecho al estado civil de cabeza de familia al presentar la declaración, aunque su padre o su madre no viva con usted. Can i file my 2011 taxes in 2013 Sin embargo, tiene que poder reclamar una exención por su padre o su madre. Can i file my 2011 taxes in 2013 También tiene que pagar más de la mitad de los gastos de mantener una vivienda que fue la vivienda principal de su madre o su padre durante todo el año. Can i file my 2011 taxes in 2013   Usted mantiene la vivienda principal para su padre o su madre si paga más de la mitad de los gastos de mantenimiento de su padre o su madre en un asilo o residencia para ancianos. Can i file my 2011 taxes in 2013 Fallecimiento o nacimiento. Can i file my 2011 taxes in 2013   Es posible que pueda presentar la declaración como cabeza de familia aun cuando la persona que le da derecho a este estado civil nazca o muera durante el año. Can i file my 2011 taxes in 2013 Si esa persona es su hijo calificado, el hijo tiene que haber vivido con usted por más de la mitad de la parte del año en que él o ella estaba vivo. Can i file my 2011 taxes in 2013 Si la persona es cualquier otra persona que no sea su hijo calificado, consulte la Publicación 501. Can i file my 2011 taxes in 2013 Ausencias temporales. Can i file my 2011 taxes in 2013   Se considera que usted y la persona calificada residen en la misma vivienda aun en el caso de una ausencia temporal suya, de la otra persona o de ambas, debido a circunstancias especiales, como enfermedad, educación, negocios, vacaciones o servicio militar. Can i file my 2011 taxes in 2013 Tiene que ser razonable suponer que la persona ausente volverá a la vivienda después de la ausencia temporal. Can i file my 2011 taxes in 2013 Usted tiene que continuar manteniendo la vivienda durante la ausencia. Can i file my 2011 taxes in 2013 Viudo que Reúne los Requisitos con Hijo Dependiente Si su cónyuge falleció en el año 2013, usted puede utilizar el estado civil de casado que presenta una declaración conjunta para el año 2013 si satisface los demás requisitos para utilizar dicho estado civil para efectos de la declaración. Can i file my 2011 taxes in 2013 El año de fallecimiento es el último año para el cual puede presentar una declaración conjunta con su cónyuge fallecido. Can i file my 2011 taxes in 2013 Vea la sección anterior, Casados que Presentan una Declaración Conjunta . Can i file my 2011 taxes in 2013 Es posible que pueda presentar su declaración utilizando el estado civil de viudo que reúne los requisitos con hijo dependiente durante los 2 años siguientes al año del fallecimiento de su cónyuge. Can i file my 2011 taxes in 2013 Por ejemplo, si su cónyuge falleció en el año 2012 y usted no se ha vuelto a casar, quizás pueda utilizar este estado civil para efectos de la declaración para los años 2013 y 2014. Can i file my 2011 taxes in 2013 Este estado civil le da el derecho de usar las tasas impositivas para la declaración conjunta y la deducción estándar máxima (si no detalla las deducciones). Can i file my 2011 taxes in 2013 Sin embargo, dicho estado civil no le da el derecho de presentar una declaración conjunta. Can i file my 2011 taxes in 2013 Cómo presentar la declaración. Can i file my 2011 taxes in 2013   Si usted presenta la declaración como viudo que reúne los requisitos con hijo dependiente, puede usar el Formulario 1040. Can i file my 2011 taxes in 2013 Además, si tiene ingresos sujetos a impuestos menores de $100,000 y cumple con ciertas condiciones, quizá podría presentar el Formulario 1040A. Can i file my 2011 taxes in 2013 Marque el recuadro en la línea 5 de cualquiera de los dos formularios. Can i file my 2011 taxes in 2013 Para calcular su impuesto, utilice la columna correspondiente a Casado que presenta una declaración conjunta, la cual aparece en la Tabla de Impuestos o la Sección B de la Hoja de Trabajo para el Cálculo del Impuesto. Can i file my 2011 taxes in 2013 Tabla 2-1. Can i file my 2011 taxes in 2013 ¿Quién le Da Derecho a Presentar la Declaración como Cabeza de Familia?1 Precaución: En este capítulo encontrará los demás requisitos que tiene que reunir para reclamar el estado civil de cabeza de familia para efectos de la declaración. Can i file my 2011 taxes in 2013 SI la persona es su . Can i file my 2011 taxes in 2013 . Can i file my 2011 taxes in 2013 . Can i file my 2011 taxes in 2013   Y . Can i file my 2011 taxes in 2013 . Can i file my 2011 taxes in 2013 . Can i file my 2011 taxes in 2013   ENTONCES esa persona . Can i file my 2011 taxes in 2013 . Can i file my 2011 taxes in 2013 . Can i file my 2011 taxes in 2013 hijo calificado (como un hijo, hija o nieto que vivió con usted durante más de la mitad del año y reúne ciertos otros requisitos)2   él o ella es soltero   es una persona calificada, independientemente de si usted puede o no reclamar una exención por dicha persona. Can i file my 2011 taxes in 2013   él o ella está casado y usted puede reclamar una exención por él o ella   es una persona calificada. Can i file my 2011 taxes in 2013   él o ella está casado y usted no puede reclamar una exención por él o ella   no es una persona calificada. Can i file my 2011 taxes in 2013 3 pariente calificado4 que sea su padre o madre   usted puede reclamar una exención por él o ella5   es una persona calificada. Can i file my 2011 taxes in 2013 6   usted no puede reclamar una exención por él o ella   no es una persona calificada. Can i file my 2011 taxes in 2013 pariente calificado4 que no sea su padre o madre (como un abuelo, hermano o hermana que reúne ciertos requisitos)   él o ella vivió con usted durante más de la mitad del año y él o ella es uno de los parientes mencionados en Parientes que no tienen que vivir con usted en el capítulo 3 y usted puede reclamar una exención por él o ella5   es una persona calificada. Can i file my 2011 taxes in 2013   él o ella no vivió con usted durante más de la mitad del año   no es una persona calificada. Can i file my 2011 taxes in 2013   él o ella no es uno de los parientes mencionados en Parientes que no tienen que vivir con usted en el capítulo 3 y es su pariente calificado sólo por vivir con usted todo el año como miembro de su unidad familiar   no es una persona calificada. Can i file my 2011 taxes in 2013   usted no puede reclamar una exención por él o ella   no es una persona calificada. Can i file my 2011 taxes in 2013 1Una persona no puede darle a más de un contribuyente el derecho de usar el estado civil de cabeza de familia para la declaración en el año. Can i file my 2011 taxes in 2013 2El término hijo calificado se define en el capítulo 3. Can i file my 2011 taxes in 2013 Nota: Si usted es padre o madre sin custodia, el término “hijo calificado” para el estado civil de cabeza de familia no incluye a un hijo que sea su hijo calificado para propósitos de una exención tributaria debido solamente a las reglas descritas bajo Hijos de padres divorciados o separados (o padres que no viven juntos) bajo Hijo Calificado en el capítulo 3. Can i file my 2011 taxes in 2013 Si usted es el padre o la madre que tiene custodia y le corresponden estas reglas, el hijo generalmente es su hijo calificado para el estado civil de cabeza de familia aunque el hijo no sea un hijo calificado por el cual usted pueda reclamar una exención. Can i file my 2011 taxes in 2013 3Esta persona es una persona calificada si la única razón por la cual usted no puede tener derecho a la exención es que usted puede ser reclamado como dependiente en la declaración de otra persona. Can i file my 2011 taxes in 2013 4El término “ pariente calificado ” se define en el capítulo 3. Can i file my 2011 taxes in 2013 5Si usted puede reclamar una exención por una persona sólo porque existe un acuerdo de manutención múltiple, dicha persona no es una persona calificada. Can i file my 2011 taxes in 2013 Vea la sección titulada Acuerdo de Manutención Múltiple , en el capítulo 3. Can i file my 2011 taxes in 2013 6Vea Regla especial para los padres . Can i file my 2011 taxes in 2013   Requisitos. Can i file my 2011 taxes in 2013   Tiene derecho a presentar la declaración del año 2013 como viudo que reúne los requisitos con hijo dependiente si cumple todas las condiciones siguientes: Tenía derecho a presentar una declaración conjunta con su cónyuge para el año en que éste falleció. Can i file my 2011 taxes in 2013 No importa si usted de hecho llegó a presentar una declaración conjunta. Can i file my 2011 taxes in 2013 Su cónyuge falleció en el año 2011 o en el año 2012 y usted no se volvió a casar antes de terminar el año 2013. Can i file my 2011 taxes in 2013 Tiene un hijo o hijastro por el cual usted puede reclamar una exención. Can i file my 2011 taxes in 2013 Esto no incluye a un hijo de crianza. Can i file my 2011 taxes in 2013 Este hijo vivió en su vivienda durante todo el año, a excepción de ausencias temporales. Can i file my 2011 taxes in 2013 Vea Ausencias temporales , anteriormente, bajo Cabeza de Familia. Can i file my 2011 taxes in 2013 También hay excepciones, las cuales se describen más adelante, que corresponden a un hijo que nació o falleció durante el año y a un hijo secuestrado. Can i file my 2011 taxes in 2013 Pagó más de la mitad del costo de mantener una vivienda durante el año. Can i file my 2011 taxes in 2013 Vea Personas que Mantienen una Vivienda , anteriormente, bajo Cabeza de Familia. Can i file my 2011 taxes in 2013 Ejemplo. Can i file my 2011 taxes in 2013 La esposa de Juan falleció en el año 2011. Can i file my 2011 taxes in 2013 Él no se ha vuelto a casar. Can i file my 2011 taxes in 2013 Durante los años 2012 y 2013, continuó manteniendo una vivienda para él y su hijo (que vive con él y por el cual puede reclamar una exención). Can i file my 2011 taxes in 2013 En el año 2011, tenía derecho a presentar una declaración conjunta para él y su esposa fallecida. Can i file my 2011 taxes in 2013 En los años tributarios 2012 y 2013 tiene derecho a presentar una declaración como viudo que reúne los requisitos con hijo dependiente. Can i file my 2011 taxes in 2013 Después de 2013, puede presentar la declaración usando el estado civil de cabeza de familia si reúne los requisitos para dicho estado civil. Can i file my 2011 taxes in 2013 Fallecimiento o nacimiento. Can i file my 2011 taxes in 2013    Puede satisfacer las condiciones para presentar una declaración como viudo que reúne los requisitos con hijo dependiente si el hijo que le da derecho a este estado civil nace o fallece durante el año. Can i file my 2011 taxes in 2013 Tiene que haber provisto más de la mitad del costo de mantener una vivienda que fuera la residencia principal del hijo durante toda la parte del año durante el cual el hijo estuvo vivo. Can i file my 2011 taxes in 2013 Hijos secuestrados. Can i file my 2011 taxes in 2013   Aunque su hijo haya sido secuestrado, dicho hijo podría darle derecho al estado civil de viudo calificado con hijo dependiente que reúne los requisitos. Can i file my 2011 taxes in 2013 Para más información, vea la Publicación 501, en inglés. Can i file my 2011 taxes in 2013 Como se menciona anteriormente, este estado civil se puede utilizar solamente durante los 2 años siguientes al año del fallecimiento de su cónyuge. 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