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File 1040x free 4. File 1040x free   Sales and Trades of Investment Property Table of Contents IntroductionNominees. File 1040x free Topics - This chapter discusses: Useful Items - You may want to see: What Is a Sale or Trade?Dividend versus sale or trade. File 1040x free Worthless Securities Constructive Sales of Appreciated Financial Positions Section 1256 Contracts Marked to Market Basis of Investment PropertyCost Basis Basis Other Than Cost Adjusted Basis Stocks and Bonds How To Figure Gain or LossFair market value. File 1040x free Debt paid off. File 1040x free Payment of cash. File 1040x free Special Rules for Mutual Funds Nontaxable TradesLike-Kind Exchanges Corporate Stocks Exchange of Shares In One Mutual Fund For Shares In Another Mutual Fund Insurance Policies and Annuities U. File 1040x free S. File 1040x free Treasury Notes or Bonds Transfers Between Spouses Related Party TransactionsGain on Sale or Trade of Depreciable Property Capital Gains and LossesCapital or Ordinary Gain or Loss Holding Period Nonbusiness Bad Debts Short Sales Wash Sales Options Straddles Sales of Stock to ESOPs or Certain Cooperatives Rollover of Gain From Publicly Traded Securities Gains on Qualified Small Business Stock Exclusion of Gain From DC Zone Assets Reporting Capital Gains and LossesException 1. File 1040x free Exception 2. File 1040x free Section 1256 contracts and straddles. File 1040x free Market discount bonds. File 1040x free File Form 1099-B or Form 1099-S with the IRS. File 1040x free Capital Losses Capital Gain Tax Rates Special Rules for Traders in SecuritiesHow To Report Introduction This chapter explains the tax treatment of sales and trades of investment property. File 1040x free Investment property. File 1040x free   This is property that produces investment income. File 1040x free Examples include stocks, bonds, and Treasury bills and notes. File 1040x free Property used in a trade or business is not investment property. File 1040x free Form 1099-B. File 1040x free   If you sold property such as stocks, bonds, mutual funds, or certain commodities through a broker during the year, you should receive, for each sale, a Form 1099-B, Proceeds From Broker and Barter Exchange Transactions, or substitute statement, from the broker. File 1040x free You should receive the statement by February 15 of the next year. File 1040x free It will show the gross proceeds from the sale. File 1040x free The IRS will also get a copy of Form 1099-B from the broker. File 1040x free   Use Form 1099-B (or substitute statement received from your broker) to complete Form 8949. File 1040x free If you sold a covered security in 2013, your broker will send you a Form 1099-B (or substitute statement) that shows your basis. File 1040x free This will help you complete Form 8949. File 1040x free Generally, a covered security is a security you acquired after 2010, with certain exceptions explained in the Instructions for Form 8949. File 1040x free    For more information on Form 8949 and Schedule D (Form 1040), see Reporting Capital Gains and Losses in this chapter. File 1040x free Also see the Instructions for Form 8949 and the Instructions for Schedule D (Form 1040). File 1040x free Nominees. File 1040x free   If someone receives gross proceeds as a nominee for you, that person will give you a Form 1099-B, which will show gross proceeds received on your behalf. File 1040x free   If you receive a Form 1099-B that includes gross proceeds belonging to another person, see Nominees , later under Reporting Capital Gains and Losses for more information. File 1040x free Other property transactions. File 1040x free   Certain transfers of property are discussed in other IRS publications. File 1040x free These include: Sale of your main home, discussed in Publication 523, Selling Your Home; Installment sales, covered in Publication 537; Various types of transactions involving business property, discussed in Publication 544, Sales and Other Dispositions of Assets; Transfers of property at death, covered in Publication 559; and Disposition of an interest in a passive activity, discussed in Publication 925. File 1040x free Topics - This chapter discusses: What Is a Sale or Trade? , Basis of Investment Property , Adjusted Basis , How To Figure Gain or Loss , Nontaxable trades , Transfers Between Spouses , Related Party Transactions , Capital Gains and Losses , Reporting Capital Gains and Losses , and Special Rules for Traders in Securities . File 1040x free Useful Items - You may want to see: Publication 551 Basis of Assets Form (and Instructions) Schedule D (Form 1040) Capital Gains and Losses 6781 Gains and Losses From Section 1256 Contracts and Straddles 8582 Passive Activity Loss Limitations 8824 Like-Kind Exchanges 8949 Sales and Other Dispositions of Capital Assets See chapter 5, How To Get Tax Help , for information about getting these publications and forms. File 1040x free What Is a Sale or Trade? This section explains what is a sale or trade. File 1040x free It also explains certain transactions and events that are treated as sales or trades. File 1040x free A sale is generally a transfer of property for money or a mortgage, note, or other promise to pay money. File 1040x free A trade is a transfer of property for other property or services, and may be taxed in the same way as a sale. File 1040x free Sale and purchase. File 1040x free   Ordinarily, a transaction is not a trade when you voluntarily sell property for cash and immediately buy similar property to replace it. File 1040x free The sale and purchase are two separate transactions. File 1040x free But see Like-Kind Exchanges under Nontaxable Trades, later. File 1040x free Redemption of stock. File 1040x free   A redemption of stock is treated as a sale or trade and is subject to the capital gain or loss provisions unless the redemption is a dividend or other distribution on stock. File 1040x free Dividend versus sale or trade. File 1040x free   Whether a redemption is treated as a sale, trade, dividend, or other distribution depends on the circumstances in each case. File 1040x free Both direct and indirect ownership of stock will be considered. File 1040x free The redemption is treated as a sale or trade of stock if: The redemption is not essentially equivalent to a dividend — see Dividends and Other Distributions in chapter 1, There is a substantially disproportionate redemption of stock, There is a complete redemption of all the stock of the corporation owned by the shareholder, or The redemption is a distribution in partial liquidation of a corporation. File 1040x free Redemption or retirement of bonds. File 1040x free   A redemption or retirement of bonds or notes at their maturity generally is treated as a sale or trade. File 1040x free See Stocks, stock rights, and bonds and Discounted Debt Instruments under Capital or Ordinary Gain or Loss, later. File 1040x free   In addition, a significant modification of a bond is treated as a trade of the original bond for a new bond. File 1040x free For details, see Regulations section 1. File 1040x free 1001-3. File 1040x free Surrender of stock. File 1040x free   A surrender of stock by a dominant shareholder who retains ownership of more than half of the corporation's voting shares is treated as a contribution to capital rather than as an immediate loss deductible from taxable income. File 1040x free The surrendering shareholder must reallocate his or her basis in the surrendered shares to the shares he or she retains. File 1040x free Trade of investment property for an annuity. File 1040x free   The transfer of investment property to a corporation, trust, fund, foundation, or other organization, in exchange for a fixed annuity contract that will make guaranteed annual payments to you for life, is a taxable trade. File 1040x free If the present value of the annuity is more than your basis in the property traded, you have a taxable gain in the year of the trade. File 1040x free Figure the present value of the annuity according to factors used by commercial insurance companies issuing annuities. File 1040x free Transfer by inheritance. File 1040x free   The transfer of property of a decedent to the executor or administrator of the estate, or to the heirs or beneficiaries, is not a sale or other disposition. File 1040x free No taxable gain or deductible loss results from the transfer. File 1040x free Termination of certain rights and obligations. File 1040x free   The cancellation, lapse, expiration, or other termination of a right or obligation (other than a securities futures contract) with respect to property that is a capital asset (or that would be a capital asset if you acquired it) is treated as a sale. File 1040x free Any gain or loss is treated as a capital gain or loss. File 1040x free   This rule does not apply to the retirement of a debt instrument. File 1040x free See Redemption or retirement of bonds , earlier. File 1040x free Worthless Securities Stocks, stock rights, and bonds (other than those held for sale by a securities dealer) that became completely worthless during the tax year are treated as though they were sold on the last day of the tax year. File 1040x free This affects whether your capital loss is long term or short term. File 1040x free See Holding Period , later. File 1040x free Worthless securities also include securities that you abandon after March 12, 2008. File 1040x free To abandon a security, you must permanently surrender and relinquish all rights in the security and receive no consideration in exchange for it. File 1040x free All the facts and circumstances determine whether the transaction is properly characterized as an abandonment or other type of transaction, such as an actual sale or exchange, contribution to capital, dividend, or gift. File 1040x free If you are a cash basis taxpayer and make payments on a negotiable promissory note that you issued for stock that became worthless, you can deduct these payments as losses in the years you actually make the payments. File 1040x free Do not deduct them in the year the stock became worthless. File 1040x free How to report loss. File 1040x free   Report worthless securities in Form 8949, Part I or Part II, whichever applies. File 1040x free    Report your worthless securities transactions on Form 8949 with the correct box checked for these transactions. File 1040x free See Form 8949 and the Instructions for Form 8949. File 1040x free Filing a claim for refund. File 1040x free   If you do not claim a loss for a worthless security on your original return for the year it becomes worthless, you can file a claim for a credit or refund due to the loss. File 1040x free You must use Form 1040X, Amended U. File 1040x free S. File 1040x free Individual Income Tax Return, to amend your return for the year the security became worthless. File 1040x free You must file it within 7 years from the date your original return for that year had to be filed, or 2 years from the date you paid the tax, whichever is later. File 1040x free (Claims not due to worthless securities or bad debts generally must be filed within 3 years from the date a return is filed, or 2 years from the date the tax is paid, whichever is later. File 1040x free ) For more information about filing a claim, see Publication 556. File 1040x free Constructive Sales of Appreciated Financial Positions You are treated as having made a constructive sale when you enter into certain transactions involving an appreciated financial position (defined later) in stock, a partnership interest, or certain debt instruments. File 1040x free You must recognize gain as if the position were disposed of at its fair market value on the date of the constructive sale. File 1040x free This gives you a new holding period for the position that begins on the date of the constructive sale. File 1040x free Then, when you close the transaction, you reduce your gain (or increase your loss) by the gain recognized on the constructive sale. File 1040x free Constructive sale. File 1040x free   You are treated as having made a constructive sale of an appreciated financial position if you: Enter into a short sale of the same or substantially identical property, Enter into an offsetting notional principal contract relating to the same or substantially identical property, Enter into a futures or forward contract to deliver the same or substantially identical property (including a forward contract that provides for cash settlement), or Acquire the same or substantially identical property (if the appreciated financial position is a short sale, an offsetting notional principal contract, or a futures or forward contract). File 1040x free   You are also treated as having made a constructive sale of an appreciated financial position if a person related to you enters into a transaction described above with a view toward avoiding the constructive sale treatment. File 1040x free For this purpose, a related person is any related party described under Related Party Transactions , later in this chapter. File 1040x free Exception for nonmarketable securities. File 1040x free   You are not treated as having made a constructive sale solely because you entered into a contract for sale of any stock, debt instrument, or partnership interest that is not a marketable security if it settles within 1 year of the date you enter into it. File 1040x free Exception for certain closed transactions. File 1040x free   Do not treat a transaction as a constructive sale if all of the following are true. File 1040x free You closed the transaction on or before the 30th day after the end of your tax year. File 1040x free You held the appreciated financial position throughout the 60-day period beginning on the date you closed the transaction. File 1040x free Your risk of loss was not reduced at any time during that 60-day period by holding certain other positions. File 1040x free   If a closed transaction is reestablished in a substantially similar position during the 60-day period beginning on the date the first transaction was closed, this exception still applies if the reestablished position is closed before the 30th day after the end of your tax year in which the first transaction was closed and, after that closing, (2) and (3) above are true. File 1040x free   This exception also applies to successive short sales of an entire appreciated financial position. File 1040x free For more information, see Revenue Ruling 2003-1 in Internal Revenue Bulletin 2003-3. File 1040x free This bulletin is available at www. File 1040x free irs. File 1040x free gov/pub/irs-irbs/irb03-03. File 1040x free pdf. File 1040x free Appreciated financial position. File 1040x free   This is any interest in stock, a partnership interest, or a debt instrument (including a futures or forward contract, a short sale, or an option) if disposing of the interest would result in a gain. File 1040x free Exceptions. File 1040x free   An appreciated financial position does not include the following. File 1040x free Any position from which all of the appreciation is accounted for under marked-to-market rules, including section 1256 contracts (described later under Section 1256 Contracts Marked to Market ). File 1040x free Any position in a debt instrument if: The position unconditionally entitles the holder to receive a specified principal amount, The interest payments (or other similar amounts) with respect to the position are payable at a fixed rate or a variable rate described in Regulations section 1. File 1040x free 860G-1(a)(3), and The position is not convertible, either directly or indirectly, into stock of the issuer (or any related person). File 1040x free Any hedge with respect to a position described in (2). File 1040x free Certain trust instruments treated as stock. File 1040x free   For the constructive sale rules, an interest in an actively traded trust is treated as stock unless substantially all of the value of the property held by the trust is debt that qualifies for the exception to the definition of an appreciated financial position (explained in (2) above). File 1040x free Sale of appreciated financial position. File 1040x free   A transaction treated as a constructive sale of an appreciated financial position is not treated as a constructive sale of any other appreciated financial position, as long as you continue to hold the original position. File 1040x free However, if you hold another appreciated financial position and dispose of the original position before closing the transaction that resulted in the constructive sale, you are treated as if, at the same time, you constructively sold the other appreciated financial position. File 1040x free Section 1256 Contracts Marked to Market If you hold a section 1256 contract at the end of the tax year, you generally must treat it as sold at its fair market value on the last business day of the tax year. File 1040x free Section 1256 Contract A section 1256 contract is any: Regulated futures contract, Foreign currency contract, Nonequity option, Dealer equity option, or Dealer securities futures contract. File 1040x free Exceptions. File 1040x free   A section 1256 contract does not include: Interest rate swaps, Currency swaps, Basis swaps, Interest rate caps, Interest rate floors, Commodity swaps, Equity swaps, Equity index swaps, Credit default swaps, or Similar agreements. File 1040x free For more details, including definitions of these terms, see section 1256. File 1040x free Regulated futures contract. File 1040x free   This is a contract that: Provides that amounts which must be deposited to, or can be withdrawn from, your margin account depend on daily market conditions (a system of marking to market), and Is traded on, or subject to the rules of, a qualified board of exchange. File 1040x free A qualified board of exchange is a domestic board of trade designated as a contract market by the Commodity Futures Trading Commission, any board of trade or exchange approved by the Secretary of the Treasury, or a national securities exchange registered with the Securities and Exchange Commission. File 1040x free Foreign currency contract. File 1040x free   This is a contract that: Requires delivery of a foreign currency that has positions traded through regulated futures contracts (or settlement of which depends on the value of that type of foreign currency), Is traded in the interbank market, and Is entered into at arm's length at a price determined by reference to the price in the interbank market. File 1040x free   Bank forward contracts with maturity dates longer than the maturities ordinarily available for regulated futures contracts are considered to meet the definition of a foreign currency contract if the above three conditions are satisfied. File 1040x free   Special rules apply to certain foreign currency transactions. File 1040x free These transactions may result in ordinary gain or loss treatment. File 1040x free For details, see Internal Revenue Code section 988 and Regulations sections 1. File 1040x free 988-1(a)(7) and 1. File 1040x free 988-3. File 1040x free Nonequity option. File 1040x free   This is any listed option (defined later) that is not an equity option. File 1040x free Nonequity options include debt options, commodity futures options, currency options, and broad-based stock index options. File 1040x free A broad-based stock index is based on the value of a group of diversified stocks or securities (such as the Standard and Poor's 500 index). File 1040x free Warrants based on a stock index that are economically, substantially identical in all material respects to options based on a stock index are treated as options based on a stock index. File 1040x free Cash-settled options. File 1040x free   Cash-settled options based on a stock index and either traded on or subject to the rules of a qualified board of exchange are nonequity options if the Securities and Exchange Commission (SEC) determines that the stock index is broad based. File 1040x free   This rule does not apply to options established before the SEC determines that the stock index is broad based. File 1040x free Listed option. File 1040x free   This is any option traded on, or subject to the rules of, a qualified board or exchange (as discussed earlier under Regulated futures contract). File 1040x free A listed option, however, does not include an option that is a right to acquire stock from the issuer. File 1040x free Dealer equity option. File 1040x free   This is any listed option that, for an options dealer: Is an equity option, Is bought or granted by that dealer in the normal course of the dealer's business activity of dealing in options, and Is listed on the qualified board of exchange where that dealer is registered. File 1040x free   An “options dealer” is any person registered with an appropriate national securities exchange as a market maker or specialist in listed options. File 1040x free Equity option. File 1040x free   This is any option: To buy or sell stock, or That is valued directly or indirectly by reference to any stock or narrow-based security index. File 1040x free  Equity options include options on a group of stocks only if the group is a narrow-based stock index. File 1040x free Dealer securities futures contract. File 1040x free   For any dealer in securities futures contracts or options on those contracts, this is a securities futures contract (or option on such a contract) that: Is entered into by the dealer (or, in the case of an option, is purchased or granted by the dealer) in the normal course of the dealer's activity of dealing in this type of contract (or option), and Is traded on a qualified board or exchange (as defined under Regulated futures contract , earlier). File 1040x free A securities futures contract that is not a dealer securities futures contract is treated as described later under Securities Futures Contracts . File 1040x free Marked-to-Market Rules A section 1256 contract that you hold at the end of the tax year will generally be treated as sold at its fair market value on the last business day of the tax year, and you must recognize any gain or loss that results. File 1040x free That gain or loss is taken into account in figuring your gain or loss when you later dispose of the contract, as shown in the example under 60/40 rule, below. File 1040x free Hedging exception. File 1040x free   The marked-to-market rules do not apply to hedging transactions. File 1040x free See Hedging Transactions , later. File 1040x free 60/40 rule. File 1040x free   Under the marked-to-market system, 60% of your capital gain or loss will be treated as a long-term capital gain or loss, and 40% will be treated as a short-term capital gain or loss. File 1040x free This is true regardless of how long you actually held the property. File 1040x free Example. File 1040x free On June 22, 2012, you bought a regulated futures contract for $50,000. File 1040x free On December 31, 2012 (the last business day of your tax year), the fair market value of the contract was $57,000. File 1040x free You recognized a $7,000 gain on your 2012 tax return, treated as 60% long-term and 40% short-term capital gain. File 1040x free On February 1, 2013, you sold the contract for $56,000. File 1040x free Because you recognized a $7,000 gain on your 2012 return, you recognize a $1,000 loss ($57,000 − $56,000) on your 2013 tax return, treated as 60% long-term and 40% short-term capital loss. File 1040x free Limited partners or entrepreneurs. File 1040x free   The 60/40 rule does not apply to dealer equity options or dealer securities futures contracts that result in capital gain or loss allocable to limited partners or limited entrepreneurs (defined later under Hedging Transactions ). File 1040x free Instead, these gains or losses are treated as short term. File 1040x free Terminations and transfers. File 1040x free   The marked-to-market rules also apply if your obligation or rights under section 1256 contracts are terminated or transferred during the tax year. File 1040x free In this case, use the fair market value of each section 1256 contract at the time of termination or transfer to determine the gain or loss. File 1040x free Terminations or transfers may result from any offsetting, delivery, exercise, assignment, or lapse of your obligation or rights under section 1256 contracts. File 1040x free Loss carryback election. File 1040x free   An individual having a net section 1256 contracts loss (defined later), generally can elect to carry this loss back 3 years instead of carrying it over to the next year. File 1040x free See How To Report , later, for information about reporting this election on your return. File 1040x free   The loss carried back to any year under this election cannot be more than the net section 1256 contracts gain in that year. File 1040x free In addition, the amount of loss carried back to an earlier tax year cannot increase or produce a net operating loss for that year. File 1040x free   The loss is carried to the earliest carryback year first, and any unabsorbed loss amount can then be carried to each of the next 2 tax years. File 1040x free In each carryback year, treat 60% of the carryback amount as a long-term capital loss and 40% as a short-term capital loss from section 1256 contracts. File 1040x free   If only a portion of the net section 1256 contracts loss is absorbed by carrying the loss back, the unabsorbed portion can be carried forward, under the capital loss carryover rules, to the year following the loss. File 1040x free (See Capital Losses under Reporting Capital Gains and Losses, later. File 1040x free ) Figure your capital loss carryover as if, for the loss year, you had an additional short-term capital gain of 40% of the amount of net section 1256 contracts loss absorbed in the carryback years and an additional long-term capital gain of 60% of the absorbed loss. File 1040x free In the carryover year, treat any capital loss carryover from losses on section 1256 contracts as if it were a loss from section 1256 contracts for that year. File 1040x free Net section 1256 contracts loss. File 1040x free   This loss is the lesser of: The net capital loss for your tax year determined by taking into account only the gains and losses from section 1256 contracts, or The capital loss carryover to the next tax year determined without this election. File 1040x free Net section 1256 contracts gain. File 1040x free   This gain is the lesser of: The capital gain net income for the carryback year determined by taking into account only gains and losses from section 1256 contracts, or The capital gain net income for that year. File 1040x free  Figure your net section 1256 contracts gain for any carryback year without regard to the net section 1256 contracts loss for the loss year or any later tax year. File 1040x free Traders in section 1256 contracts. File 1040x free   Gain or loss from the trading of section 1256 contracts is capital gain or loss subject to the marked-to-market rules. File 1040x free However, this does not apply to contracts held for purposes of hedging property if any loss from the property would be an ordinary loss. File 1040x free Treatment of underlying property. File 1040x free   The determination of whether an individual's gain or loss from any property is ordinary or capital gain or loss is made without regard to the fact that the individual is actively engaged in dealing in or trading section 1256 contracts related to that property. File 1040x free How To Report If you disposed of regulated futures or foreign currency contracts in 2013 (or had unrealized profit or loss on these contracts that were open at the end of 2012 or 2013), you should receive Form 1099-B, or substitute statement, from your broker. File 1040x free Form 6781. File 1040x free   Use Part I of Form 6781 to report your gains and losses from all section 1256 contracts that are open at the end of the year or that were closed out during the year. File 1040x free This includes the amount shown in box 10 of Form 1099-B. File 1040x free Then enter the net amount of these gains and losses on Schedule D (Form 1040), line 4 or line 11, as appropriate. File 1040x free Include a copy of Form 6781 with your income tax return. File 1040x free   If the Form 1099-B you receive includes a straddle or hedging transaction, defined later, it may be necessary to show certain adjustments on Form 6781. File 1040x free Follow the Form 6781 instructions for completing Part I. File 1040x free Loss carryback election. File 1040x free   To carry back your loss under the election procedures described earlier, file Form 1040X or Form 1045, Application for Tentative Refund, for the year to which you are carrying the loss with an amended Form 6781 and an amended Schedule D (Form 1040) attached. File 1040x free Follow the instructions for completing Form 6781 for the loss year to make this election. File 1040x free Hedging Transactions The marked-to-market rules, described earlier, do not apply to hedging transactions. File 1040x free A transaction is a hedging transaction if both of the following conditions are met. File 1040x free You entered into the transaction in the normal course of your trade or business primarily to manage the risk of: Price changes or currency fluctuations on ordinary property you hold (or will hold), or Interest rate or price changes, or currency fluctuations, on your current or future borrowings or ordinary obligations. File 1040x free You clearly identified the transaction as being a hedging transaction before the close of the day on which you entered into it. File 1040x free This hedging transaction exception does not apply to transactions entered into by or for any syndicate. File 1040x free A syndicate is a partnership, S corporation, or other entity (other than a regular corporation) that allocates more than 35% of its losses to limited partners or limited entrepreneurs. File 1040x free A limited entrepreneur is a person who has an interest in an enterprise (but not as a limited partner) and who does not actively participate in its management. File 1040x free However, an interest is not considered held by a limited partner or entrepreneur if the interest holder actively participates (or did so for at least 5 full years) in the management of the entity, or is the spouse, child (including a legally adopted child), grandchild, or parent of an individual who actively participates in the management of the entity. File 1040x free Hedging loss limit. File 1040x free   If you are a limited partner or entrepreneur in a syndicate, the amount of a hedging loss you can claim is limited. File 1040x free A “hedging loss” is the amount by which the allowable deductions in a tax year that resulted from a hedging transaction (determined without regard to the limit) are more than the income received or accrued during the tax year from this transaction. File 1040x free   Any hedging loss allocated to you for the tax year is limited to your taxable income for that year from the trade or business in which the hedging transaction occurred. File 1040x free Ignore any hedging transaction items in determining this taxable income. File 1040x free If you have a hedging loss that is disallowed because of this limit, you can carry it over to the next tax year as a deduction resulting from a hedging transaction. File 1040x free   If the hedging transaction relates to property other than stock or securities, the limit on hedging losses applies if the limited partner or entrepreneur is an individual. File 1040x free   The limit on hedging losses does not apply to any hedging loss to the extent that it is more than all your unrecognized gains from hedging transactions at the end of the tax year that are from the trade or business in which the hedging transaction occurred. File 1040x free The term “unrecognized gain” has the same meaning as defined under Loss Deferral Rules in Straddles, later. File 1040x free Sale of property used in a hedge. File 1040x free   Once you identify personal property as being part of a hedging transaction, you must treat gain from its sale or exchange as ordinary income, not capital gain. File 1040x free Self-Employment Income Gains and losses derived in the ordinary course of a commodity or option dealer's trading in section 1256 contracts and property related to these contracts are included in net earnings from self-employment. File 1040x free See the Instructions for Schedule SE (Form 1040). File 1040x free In addition, the rules relating to contributions to self-employment retirement plans apply. File 1040x free For information on retirement plan contributions, see Publication 560 and Publication 590. File 1040x free Basis of Investment Property Basis is a way of measuring your investment in property for tax purposes. File 1040x free You must know the basis of your property to determine whether you have a gain or loss on its sale or other disposition. File 1040x free Investment property you buy normally has an original basis equal to its cost. File 1040x free If you get property in some way other than buying it, such as by gift or inheritance, its fair market value may be important in figuring the basis. File 1040x free Cost Basis The basis of property you buy is usually its cost. File 1040x free The cost is the amount you pay in cash, debt obligations, or other property or services. File 1040x free Unstated interest. File 1040x free   If you buy property on a time-payment plan that charges little or no interest, the basis of your property is your stated purchase price, minus the amount considered to be unstated interest. File 1040x free You generally have unstated interest if your interest rate is less than the applicable federal rate. File 1040x free For more information, see Unstated Interest and Original Issue Discount (OID) in Publication 537. File 1040x free Basis Other Than Cost There are times when you must use a basis other than cost. File 1040x free In these cases, you may need to know the property's fair market value or the adjusted basis of the previous owner. File 1040x free Fair market value. File 1040x free   This is the price at which the property would change hands between a buyer and a seller, neither being forced to buy or sell and both having reasonable knowledge of all the relevant facts. File 1040x free Sales of similar property, around the same date, may be helpful in figuring fair market value. File 1040x free Property Received for Services If you receive investment property for services, you must include the property's fair market value in income. File 1040x free The amount you include in income then becomes your basis in the property. File 1040x free If the services were performed for a price that was agreed to beforehand, this price will be accepted as the fair market value of the property if there is no evidence to the contrary. File 1040x free Restricted property. File 1040x free   If you receive, as payment for services, property that is subject to certain restrictions, your basis in the property generally is its fair market value when it becomes substantially vested. File 1040x free Property becomes substantially vested when it is transferable or is no longer subject to substantial risk of forfeiture, whichever happens first. File 1040x free See Restricted Property in Publication 525 for more information. File 1040x free Bargain purchases. File 1040x free   If you buy investment property at less than fair market value, as payment for services, you must include the difference in income. File 1040x free Your basis in the property is the price you pay plus the amount you include in income. File 1040x free Property Received in Taxable Trades If you received investment property in trade for other property, the basis of the new property is its fair market value at the time of the trade unless you received the property in a nontaxable trade. File 1040x free Example. File 1040x free You trade A Company stock for B Company stock having a fair market value of $1,200. File 1040x free If the adjusted basis of the A Company stock is less than $1,200, you have a taxable gain on the trade. File 1040x free If the adjusted basis of the A Company stock is more than $1,200, you have a deductible loss on the trade. File 1040x free The basis of your B Company stock is $1,200. File 1040x free If you later sell the B Company stock for $1,300, you will have a gain of $100. File 1040x free Property Received in Nontaxable Trades If you have a nontaxable trade, you do not recognize gain or loss until you dispose of the property you received in the trade. File 1040x free See Nontaxable Trades , later. File 1040x free The basis of property you received in a nontaxable or partly nontaxable trade is generally the same as the adjusted basis of the property you gave up. File 1040x free Increase this amount by any cash you paid, additional costs you had, and any gain recognized. File 1040x free Reduce this amount by any cash or unlike property you received, any loss recognized, and any liability of yours that was assumed or treated as assumed. File 1040x free Property Received From Your Spouse If property is transferred to you from your spouse (or former spouse, if the transfer is incident to your divorce), your basis is the same as your spouse's or former spouse's adjusted basis just before the transfer. File 1040x free See Transfers Between Spouses , later. File 1040x free Recordkeeping. File 1040x free The transferor must give you the records necessary to determine the adjusted basis and holding period of the property as of the date of the transfer. File 1040x free Property Received as a Gift To figure your basis in property that you received as a gift, you must know its adjusted basis to the donor just before it was given to you, its fair market value at the time it was given to you, the amount of any gift tax paid on it, and the date it was given to you. File 1040x free Fair market value less than donor's adjusted basis. File 1040x free   If the fair market value of the property at the time of the gift was less than the donor's adjusted basis just before the gift, your basis for gain on its sale or other disposition is the same as the donor's adjusted basis plus or minus any required adjustments to basis during the period you hold the property. File 1040x free Your basis for loss is its fair market value at the time of the gift plus or minus any required adjustments to basis during the period you hold the property. File 1040x free No gain or loss. File 1040x free   If you use the basis for figuring a gain and the result is a loss, and then use the basis for figuring a loss and the result is a gain, you will have neither a gain nor a loss. File 1040x free Example. File 1040x free You receive a gift of investment property having an adjusted basis of $10,000 at the time of the gift. File 1040x free The fair market value at the time of the gift is $9,000. File 1040x free You later sell the property for $9,500. File 1040x free You have neither gain nor loss. File 1040x free Your basis for figuring gain is $10,000, and $9,500 minus $10,000 results in a $500 loss. File 1040x free Your basis for figuring loss is $9,000, and $9,500 minus $9,000 results in a $500 gain. File 1040x free Fair market value equal to or more than donor's adjusted basis. File 1040x free   If the fair market value of the property at the time of the gift was equal to or more than the donor's adjusted basis just before the gift, your basis for gain or loss on its sale or other disposition is the donor's adjusted basis plus or minus any required adjustments to basis during the period you hold the property. File 1040x free Also, you may be allowed to add to the donor's adjusted basis all or part of any gift tax paid, depending on the date of the gift. File 1040x free Gift received before 1977. File 1040x free   If you received property as a gift before 1977, your basis in the property is the donor's adjusted basis increased by the total gift tax paid on the gift. File 1040x free However, your basis cannot be more than the fair market value of the gift at the time it was given to you. File 1040x free Example 1. File 1040x free You were given XYZ Company stock in 1976. File 1040x free At the time of the gift, the stock had a fair market value of $21,000. File 1040x free The donor's adjusted basis was $20,000. File 1040x free The donor paid a gift tax of $500 on the gift. File 1040x free Your basis for gain or loss is $20,500, the donor's adjusted basis plus the amount of gift tax paid. File 1040x free Example 2. File 1040x free The facts are the same as in Example 1 except that the gift tax paid was $1,500. File 1040x free Your basis is $21,000, the donor's adjusted basis plus the gift tax paid, but limited to the fair market value of the stock at the time of the gift. File 1040x free Gift received after 1976. File 1040x free   If you received property as a gift after 1976, your basis is the donor's adjusted basis increased by the part of the gift tax paid that was for the net increase in value of the gift. File 1040x free You figure this part by multiplying the gift tax paid on the gift by a fraction. File 1040x free The numerator (top part) is the net increase in value of the gift and the denominator (bottom part) is the amount of the gift. File 1040x free   The net increase in value of the gift is the fair market value of the gift minus the donor's adjusted basis. File 1040x free The amount of the gift is its value for gift tax purposes after reduction by any annual exclusion and marital or charitable deduction that applies to the gift. File 1040x free Example. File 1040x free In 2013, you received a gift of property from your mother. File 1040x free At the time of the gift, the property had a fair market value of $101,000 and an adjusted basis to her of $40,000. File 1040x free The amount of the gift for gift tax purposes was $87,000 ($101,000 minus the $14,000 annual exclusion), and your mother paid a gift tax of $21,000. File 1040x free You figure your basis in the following way: Fair market value $101,000 Minus: Adjusted basis 40,000 Net increase in value of gift $61,000 Gift tax paid $21,000 Multiplied by . File 1040x free 701 ($61,000 ÷ $87,000) . File 1040x free 701 Gift tax due to net increase in value $14,721 Plus: Adjusted basis of property to  your mother 40,000 Your basis in the property $54,721 Part sale, part gift. File 1040x free   If you get property in a transfer that is partly a sale and partly a gift, your basis is the larger of the amount you paid for the property or the transferor's adjusted basis in the property at the time of the transfer. File 1040x free Add to that amount the amount of any gift tax paid on the gift, as described in the preceding discussion. File 1040x free For figuring loss, your basis is limited to the property's fair market value at the time of the transfer. File 1040x free Gift tax information. File 1040x free   For information on gift tax, see Publication 950, Introduction to Estate and Gift Taxes. File 1040x free For information on figuring the amount of gift tax to add to your basis, see Property Received as a Gift in Publication 551. File 1040x free Property Received as Inheritance Before or after 2010. File 1040x free   If you inherited property from a decedent who died before or after 2010, or who died in 2010 and the executor of the decedent's estate elected not to file Form 8939, Allocation of Increase in Basis for Property Acquired From a Decedent, your basis in that property generally is its fair market value (its appraised value on Form 706, United States Estate (and Generation-Skipping Transfer) Tax Return) on: The date of the decedent's death, or The later alternate valuation date if the estate qualifies for, and elects to use, alternate valuation. File 1040x free If no Form 706 was filed, use the appraised value on the date of death for state inheritance or transmission taxes. File 1040x free For stocks and bonds, if no Form 706 was filed and there are no state inheritance or transmission taxes, see the Form 706 instructions for figuring the fair market value of the stocks and bonds on the date of the decedent's death. File 1040x free Appreciated property you gave the decedent. File 1040x free   Your basis in certain appreciated property that you inherited is the decedent's adjusted basis in the property immediately before death rather than its fair market value. File 1040x free This applies to appreciated property that you or your spouse gave the decedent as a gift during the 1-year period ending on the date of death. File 1040x free Appreciated property is any property whose fair market value on the day you gave it to the decedent was more than its adjusted basis. File 1040x free More information. File 1040x free   See Publication 551 for more information on the basis of inherited property, including community property, property held by a surviving tenant in a joint tenancy or tenancy by the entirety, a qualified joint interest, and a farm or closely held business. File 1040x free Inherited in 2010 and executor elected to file Form 8939. File 1040x free   If you inherited property from a decedent who died in 2010 and the executor made the election to file Form 8939, see Publication 4895, Tax Treatment of Property Acquired From a Decedent Dying in 2010, to figure your basis. File 1040x free Adjusted Basis Before you can figure any gain or loss on a sale, exchange, or other disposition of property or figure allowable depreciation, depletion, or amortization, you usually must make certain adjustments (increases and decreases) to the basis of the property. File 1040x free The result of these adjustments to the basis is the adjusted basis. File 1040x free Adjustments to the basis of stocks and bonds are explained in the following discussion. File 1040x free For information about other adjustments to basis, see Publication 551. File 1040x free Stocks and Bonds The basis of stocks or bonds you own generally is the purchase price plus the costs of purchase, such as commissions and recording or transfer fees. File 1040x free If you acquired stock or bonds other than by purchase, your basis is usually determined by fair market value or the previous owner's adjusted basis as discussed earlier under Basis Other Than Cost . File 1040x free The basis of stock must be adjusted for certain events that occur after purchase. File 1040x free For example, if you receive more stock from nontaxable stock dividends or stock splits, you must reduce the basis of your original stock. File 1040x free You must also reduce your basis when you receive nondividend distributions (discussed in chapter 1). File 1040x free These distributions, up to the amount of your basis, are a nontaxable return of capital. File 1040x free The IRS partners with companies that offer Form 8949 and Schedule D (Form 1040) software that can import trades from many brokerage firms and accounting software to help you keep track of your adjusted basis in securities. File 1040x free To find out more, go to www. File 1040x free irs. File 1040x free gov/Filing/Filing-Options. File 1040x free Identifying stock or bonds sold. File 1040x free   If you can adequately identify the shares of stock or the bonds you sold, their basis is the cost or other basis of the particular shares of stock or bonds. File 1040x free Adequate identification. File 1040x free   You will make an adequate identification if you show that certificates representing shares of stock from a lot that you bought on a certain date or for a certain price were delivered to your broker or other agent. File 1040x free Broker holds stock. File 1040x free   If you have left the stock certificates with your broker or other agent, you will make an adequate identification if you: Tell your broker or other agent the particular stock to be sold or transferred at the time of the sale or transfer, and Receive a written confirmation of this from your broker or other agent within a reasonable time. File 1040x free  Stock identified this way is the stock sold or transferred even if stock certificates from a different lot are delivered to the broker or other agent. File 1040x free Single stock certificate. File 1040x free   If you bought stock in different lots at different times and you hold a single stock certificate for this stock, you will make an adequate identification if you: Tell your broker or other agent the particular stock to be sold or transferred when you deliver the certificate to your broker or other agent, and Receive a written confirmation of this from your broker or other agent within a reasonable time. File 1040x free   If you sell part of the stock represented by a single certificate directly to the buyer instead of through a broker, you will make an adequate identification if you keep a written record of the particular stock that you intend to sell. File 1040x free Bonds. File 1040x free   These methods of identification also apply to bonds sold or transferred. File 1040x free Identification not possible. File 1040x free   If you buy and sell securities at various times in varying quantities and you cannot adequately identify the shares you sell, the basis of the securities you sell is the basis of the securities you acquired first. File 1040x free Except for certain mutual fund shares, discussed later, you cannot use the average price per share to figure gain or loss on the sale of the shares. File 1040x free Example. File 1040x free You bought 100 shares of stock of XYZ Corporation in 1998 for $10 a share. File 1040x free In January 1999 you bought another 200 shares for $11 a share. File 1040x free In July 1999 you gave your son 50 shares. File 1040x free In December 2001 you bought 100 shares for $9 a share. File 1040x free In April 2013 you sold 130 shares. File 1040x free You cannot identify the shares you disposed of, so you must use the stock you acquired first to figure the basis. File 1040x free The shares of stock you gave your son had a basis of $500 (50 × $10). File 1040x free You figure the basis of the 130 shares of stock you sold in 2013 as follows: 50 shares (50 × $10) balance of stock bought in 1998 $ 500 80 shares (80 × $11) stock bought in January 1999 880 Total basis of stock sold in 2013 $1,380 Shares in a mutual fund or REIT. File 1040x free    The basis of shares in a mutual fund (or other regulated investment company) or a real estate investment trust (REIT) is generally figured in the same way as the basis of other stock and usually includes any commissions or load charges paid for the purchase. File 1040x free Example. File 1040x free You bought 100 shares of Fund A for $10 a share. File 1040x free You paid a $50 commission to the broker for the purchase. File 1040x free Your cost basis for each share is $10. File 1040x free 50 ($1,050 ÷ 100). File 1040x free Commissions and load charges. File 1040x free   The fees and charges you pay to acquire or redeem shares of a mutual fund are not deductible. File 1040x free You can usually add acquisition fees and charges to your cost of the shares and thereby increase your basis. File 1040x free A fee paid to redeem the shares is usually a reduction in the redemption price (sales price). File 1040x free   You cannot add your entire acquisition fee or load charge to the cost of the mutual fund shares acquired if all of the following conditions apply. File 1040x free You get a reinvestment right because of the purchase of the shares or the payment of the fee or charge. File 1040x free You dispose of the shares within 90 days of the purchase date. File 1040x free You acquire new shares in the same mutual fund or another mutual fund, for which the fee or charge is reduced or waived because of the reinvestment right you got when you acquired the original shares. File 1040x free   The amount of the original fee or charge in excess of the reduction in (3) is added to the cost of the original shares. File 1040x free The rest of the original fee or charge is added to the cost basis of the new shares (unless all three conditions above also apply to the purchase of the new shares). File 1040x free Choosing average basis for mutual fund shares. File 1040x free   You can choose to use the average basis of mutual fund shares if you acquired the identical shares at various times and prices, or you acquired the shares after 2010 in connection with a dividend reinvestment plan, and left them on deposit in an account kept by a custodian or agent. File 1040x free The methods you can use to figure average basis are explained later. File 1040x free Undistributed capital gains. File 1040x free   If you had to include in your income any undistributed capital gains of the mutual fund or REIT, increase your basis in the stock by the difference between the amount you included and the amount of tax paid for you by the fund or REIT. File 1040x free See Undistributed capital gains of mutual funds and REITs under Capital Gain Distributions in chapter 1. File 1040x free Reinvestment right. File 1040x free   This is the right to acquire mutual fund shares in the same or another mutual fund without paying a fee or load charge, or by paying a reduced fee or load charge. File 1040x free      The original cost basis of mutual fund shares you acquire by reinvesting your distributions is the amount of the distributions used to purchase each full or fractional share. File 1040x free This rule applies even if the distribution is an exempt-interest dividend that you do not report as income. File 1040x free Table 4-1. File 1040x free This is a worksheet you can use to keep track of the adjusted basis of your mutual fund shares. File 1040x free Enter the cost per share when you acquire new shares and any adjustments to their basis when the adjustment occurs. File 1040x free This worksheet will help you figure the adjusted basis when you sell or redeem shares. File 1040x free Table 4-1. File 1040x free Mutual Fund Record Mutual Fund Acquired1 Adjustment to Basis Per Share Adjusted2 Basis Per Share Sold or redeemed Date Number of Shares Cost Per Share Date Number of Shares                                                                                                                                                                                                                                                                         1 Include share received from reinvestment of distributions. File 1040x free 2 Cost plus or minus adjustments. File 1040x free Automatic investment service. File 1040x free   If you participate in an automatic investment service, your basis for each share of stock, including fractional shares, bought by the bank or other agent is the purchase price plus a share of the broker's commission. File 1040x free Dividend reinvestment plans. File 1040x free   If you participate in a dividend reinvestment plan and receive stock from the corporation at a discount, your basis is the full fair market value of the stock on the dividend payment date. File 1040x free You must include the amount of the discount in your income. File 1040x free Public utilities. File 1040x free   If, before 1986, you excluded from income the value of stock you had received under a qualified public utility reinvestment plan, your basis in that stock is zero. File 1040x free Stock dividends. File 1040x free   Stock dividends are distributions made by a corporation of its own stock. File 1040x free Generally, stock dividends are not taxable to you. File 1040x free However, see Distributions of Stock and Stock Rights under Dividends and Other Distributions in chapter 1 for some exceptions. File 1040x free If the stock dividends are not taxable, you must divide your basis for the old stock between the old and new stock. File 1040x free New and old stock identical. File 1040x free   If the new stock you received as a nontaxable dividend is identical to the old stock on which the dividend was declared, divide the adjusted basis of the old stock by the number of shares of old and new stock. File 1040x free The result is your basis for each share of stock. File 1040x free Example 1. File 1040x free You owned one share of common stock that you bought for $45. File 1040x free The corporation distributed two new shares of common stock for each share held. File 1040x free You then had three shares of common stock. File 1040x free Your basis in each share is $15 ($45 ÷ 3). File 1040x free Example 2. File 1040x free You owned two shares of common stock. File 1040x free You bought one for $30 and the other for $45. File 1040x free The corporation distributed two new shares of common stock for each share held. File 1040x free You had six shares after the distribution—three with a basis of $10 each ($30 ÷ 3) and three with a basis of $15 each ($45 ÷ 3). File 1040x free New and old stock not identical. File 1040x free   If the new stock you received as a nontaxable dividend is not identical to the old stock on which it was declared, the basis of the new stock is calculated differently. File 1040x free Divide the adjusted basis of the old stock between the old and the new stock in the ratio of the fair market value of each lot of stock to the total fair market value of both lots on the date of distribution of the new stock. File 1040x free Example. File 1040x free You bought a share of common stock for $100. File 1040x free Later, the corporation distributed a share of preferred stock for each share of common stock held. File 1040x free At the date of distribution, your common stock had a fair market value of $150 and the preferred stock had a fair market value of $50. File 1040x free You figure the basis of the old and new stock by dividing your $100 basis between them. File 1040x free The basis of your common stock is $75 (($150 ÷ $200) × $100), and the basis of the new preferred stock is $25 (($50 ÷ $200) × $100). File 1040x free Stock bought at various times. File 1040x free   Figure the basis of stock dividends received on stock you bought at various times and at different prices by allocating to each lot of stock the share of the stock dividends due to it. File 1040x free Taxable stock dividends. File 1040x free   If your stock dividend is taxable when you receive it, the basis of your new stock is its fair market value on the date of distribution. File 1040x free The basis of your old stock does not change. File 1040x free Stock splits. File 1040x free   Figure the basis of stock splits in the same way as stock dividends if identical stock is distributed on the stock held. File 1040x free Stock rights. File 1040x free   A stock right is a right to acquire a corporation's stock. File 1040x free It may be exercised, it may be sold if it has a market value, or it may expire. File 1040x free Stock rights are rarely taxable when you receive them. File 1040x free See Distributions of Stock and Stock Rights under Dividends and Other Distributions in chapter 1. File 1040x free Taxable stock rights. File 1040x free   If you receive stock rights that are taxable, the basis of the rights is their fair market value at the time of distribution. File 1040x free The basis of the old stock does not change. File 1040x free Nontaxable stock rights. File 1040x free   If you receive nontaxable stock rights and allow them to expire, they have no basis. File 1040x free   If you exercise or sell the nontaxable stock rights and if, at the time of distribution, the stock rights had a fair market value of 15% or more of the fair market value of the old stock, you must divide the adjusted basis of the old stock between the old stock and the stock rights. File 1040x free Use a ratio of the fair market value of each to the total fair market value of both at the time of distribution. File 1040x free   If the fair market value of the stock rights was less than 15%, their basis is zero. File 1040x free However, you can choose to divide the basis of the old stock between the old stock and the stock rights. File 1040x free To make the choice, attach a statement to your return for the year in which you received the rights, stating that you choose to divide the basis of the stock. File 1040x free Basis of new stock. File 1040x free   If you exercise the stock rights, the basis of the new stock is its cost plus the basis of the stock rights exercised. File 1040x free Example. File 1040x free You own 100 shares of ABC Company stock, which cost you $22 per share. File 1040x free The ABC Company gave you 10 nontaxable stock rights that would allow you to buy 10 more shares at $26 per share. File 1040x free At the time the stock rights were distributed, the stock had a market value of $30, not including the stock rights. File 1040x free Each stock right had a market value of $3. File 1040x free The market value of the stock rights was less than 15% of the market value of the stock, but you chose to divide the basis of your stock between the stock and the rights. File 1040x free You figure the basis of the rights and the basis of the old stock as follows: 100 shares × $22 = $2,200, basis of old stock   100 shares × $30 = $3,000, market value of old stock   10 rights × $3 = $30, market value of rights   ($3,000 ÷ $3,030) × $2,200 = $2,178. File 1040x free 22, new basis of old stock   ($30 ÷ $3,030) × $2,200 = $21. File 1040x free 78, basis of rights   If you sell the rights, the basis for figuring gain or loss is $2. File 1040x free 18 ($21. File 1040x free 78 ÷ 10) per right. File 1040x free If you exercise the rights, the basis of the stock you acquire is the price you pay ($26) plus the basis of the right exercised ($2. File 1040x free 18), or $28. File 1040x free 18 per share. File 1040x free The remaining basis of the old stock is $21. File 1040x free 78 per share. File 1040x free Investment property received in liquidation. File 1040x free   In general, if you receive investment property as a distribution in partial or complete liquidation of a corporation and if you recognize gain or loss when you acquire the property, your basis in the property is its fair market value at the time of the distribution. File 1040x free S corporation stock. File 1040x free   You must increase your basis in stock of an S corporation by your pro rata share of the following items. File 1040x free All income items of the S corporation, including tax-exempt income, that are separately stated and passed through to you as a shareholder. File 1040x free The nonseparately stated income of the S corporation. File 1040x free The amount of the deduction for depletion (other than oil and gas depletion) that is more than the basis of the property being depleted. File 1040x free   You must decrease your basis in stock of an S corporation by your pro rata share of the following items. File 1040x free Distributions by the S corporation that were not included in your income. File 1040x free All loss and deduction items of the S corporation that are separately stated and passed through to you. File 1040x free Any nonseparately stated loss of the S corporation. File 1040x free Any expense of the S corporation that is not deductible in figuring its taxable income and not properly chargeable to a capital account. File 1040x free The amount of your deduction for depletion of oil and gas wells to the extent the deduction is not more than your share of the adjusted basis of the wells. File 1040x free However, your basis in the stock cannot be reduced below zero. File 1040x free Specialized small business investment company stock or partnership interest. File 1040x free   If you bought this stock or interest as replacement property for publicly traded securities you sold at a gain, you must reduce the basis of the stock or interest by the amount of any postponed gain on that sale. File 1040x free See Rollover of Gain From Publicly Traded Securities , later. File 1040x free Qualified small business stock. File 1040x free   If you bought this stock as replacement property for other qualified small business stock you sold at a gain, you must reduce the basis of this replacement stock by the amount of any postponed gain on the earlier sale. File 1040x free See Gains on Qualified Small Business Stock , later. File 1040x free Short sales. File 1040x free   If you cannot deduct payments you make to a lender in lieu of dividends on stock used in a short sale, the amount you pay to the lender is a capital expense, and you must add it to the basis of the stock used to close the short sale. File 1040x free   See Payments in lieu of dividends , later, for information about deducting payments in lieu of dividends. File 1040x free Premiums on bonds. File 1040x free   If you buy a bond at a premium, the premium is treated as part of your basis in the bond. File 1040x free If you choose to amortize the premium paid on a taxable bond, you must reduce the basis of the bond by the amortized part of the premium each year over the life of the bond. File 1040x free   Although you cannot deduct the premium on a tax-exempt bond, you must amortize it to determine your adjusted basis in the bond. File 1040x free You must reduce the basis of the bond by the premium you amortized for the period you held the bond. File 1040x free   See Bond Premium Amortization in chapter 3 for more information. File 1040x free Market discount on bonds. File 1040x free   If you include market discount on a bond in income currently, increase the basis of your bond by the amount of market discount you include in your income. File 1040x free See Market Discount Bonds in chapter 1 for more information. File 1040x free Bonds purchased at par value. File 1040x free   A bond purchased at par value (face amount) has no premium or discount. File 1040x free When you sell or otherwise dispose of the bond, you figure the gain or loss by comparing the bond proceeds to the purchase price of the bond. File 1040x free Example. File 1040x free You purchased a bond several years ago for its par value of $10,000. File 1040x free You sold the bond this year for $10,100. File 1040x free You have a gain of $100. File 1040x free However, if you had sold the bond for $9,900, you would have a loss of $100. File 1040x free Acquisition discount on short-term obligations. File 1040x free   If you include acquisition discount on a short-term obligation in your income currently, increase the basis of the obligation by the amount of acquisition discount you include in your income. File 1040x free See Discount on Short-Term Obligations in chapter 1 for more information. File 1040x free Original issue discount (OID) on debt instruments. File 1040x free   Increase the basis of a debt instrument by the OID you include in your income. File 1040x free See Original Issue Discount (OID) in chapter 1. File 1040x free Discounted tax-exempt obligations. File 1040x free   OID on tax-exempt obligations is generally not taxable. File 1040x free However, when you dispose of a tax-exempt obligation issued after September 3, 1982, that you acquired after March 1, 1984, you must accrue OID on the obligation to determine its adjusted basis. File 1040x free The accrued OID is added to the basis of the obligation to determine your gain or loss. File 1040x free   For information on determining OID on a long-term obligation, see Debt Instruments Issued After July 1, 1982, and Before 1985 or Debt Instruments Issued After 1984, whichever applies, in Publication 1212 under Figuring OID on Long-Term Debt Instruments. File 1040x free   If the tax-exempt obligation has a maturity of 1 year or less, accrue OID under the rules for acquisition discount on short-term obligations. File 1040x free See Discount on Short-Term Obligations in chapter 1. File 1040x free Stripped tax-exempt obligation. File 1040x free   If you acquired a stripped tax-exempt bond or coupon after October 22, 1986, you must accrue OID on it to determine its adjusted basis when you dispose of it. File 1040x free For stripped tax-exempt bonds or coupons acquired after June 10, 1987, part of this OID may be taxable. File 1040x free You accrue the OID on these obligations in the manner described in chapter 1 under Stripped Bonds and Coupons . File 1040x free   Increase your basis in the stripped tax-exempt bond or coupon by the taxable and nontaxable accrued OID. File 1040x free Also increase your basis by the interest that accrued (but was not paid and was not previously reflected in your basis) before the date you sold the bond or coupon. File 1040x free In addition, for bonds acquired after June 10, 1987, add to your basis any accrued market discount not previously reflected in basis. File 1040x free How To Figure Gain or Loss You figure gain or loss on a sale or trade of property by comparing the amount you realize with the adjusted basis of the property. File 1040x free Gain. File 1040x free   If the amount you realize from a sale or trade is more than the adjusted basis of the property you transfer, the difference is a gain. File 1040x free Loss. File 1040x free   If the adjusted basis of the property you transfer is more than the amount you realize, the difference is a loss. File 1040x free Amount realized. File 1040x free   The amount you realize from a sale or trade of property is everything you receive for the property minus your expenses of sale (such as redemption fees, sales commissions, sales charges, or exit fees). File 1040x free Amount realized includes the money you receive plus the fair market value of any property or services you receive. File 1040x free   If you finance the buyer's purchase of your property and the debt instrument does not provide for adequate stated interest, the unstated interest that you must report as ordinary income will reduce the amount realized from the sale. File 1040x free For more information, see Publication 537. File 1040x free   If a buyer of property issues a debt instrument to the seller of the property, the amount realized is determined by reference to the issue price of the debt instrument, which may or may not be the fair market value of the debt instrument. File 1040x free See Regulations section 1. File 1040x free 1001-1(g). File 1040x free However, if the debt instrument was previously issued by a third party (one not part of the sale transaction), the fair market value of the debt instrument is used to determine the amount realized. File 1040x free Fair market value. File 1040x free   Fair market value is the price at which property would change hands between a buyer and a seller, neither being forced to buy or sell and both having reasonable knowledge of all the relevant facts. File 1040x free Example. File 1040x free You trade A Company stock with an adjusted basis of $7,000 for B Company stock with a fair market value of $10,000, which is your amount realized. File 1040x free Your gain is $3,000 ($10,000 – $7,000). File 1040x free If you also receive a note for $6,000 that has an issue price of $6,000, your gain is $9,000 ($10,000 + $6,000 – $7,000). File 1040x free Debt paid off. File 1040x free   A debt against the property, or against you, that is paid off as a part of the transaction or that is assumed by the buyer must be included in the amount realized. File 1040x free This is true even if neither you nor the buyer is personally liable for the debt. File 1040x free For example, if you sell or trade property that is subject to a nonrecourse loan, the amount you realize generally includes the full amount of the note assumed by the buyer even if the amount of the note is more than the fair market value of the property. File 1040x free Example. File 1040x free You sell stock that you had pledged as security for a bank loan of $8,000. File 1040x free Your basis in the stock is $6,000. File 1040x free The buyer pays off your bank loan and pays you $20,000 in cash. File 1040x free The amount realized is $28,000 ($20,000 + $8,000). File 1040x free Your gain is $22,000 ($28,000 – $6,000). File 1040x free Payment of cash. File 1040x free   If you trade property and cash for other property, the amount you realize is the fair market value of the property you receive. File 1040x free Determine your gain or loss by subtracting the cash you pay and the adjusted basis of the property you trade in from the amount you realize. File 1040x free If the result is a positive number, it is a gain. File 1040x free If the result is a negative number, it is a loss. File 1040x free No gain or loss. File 1040x free   You may have to use a basis for figuring gain that is different from the basis used for figuring loss. File 1040x free In this case, you may have neither a gain nor a loss. File 1040x free See No gain or loss in the discussion on the basis of property you received as a gift under Basis Other Than Cost, earlier. File 1040x free Special Rules for Mutual Funds To figure your gain or loss when you dispose of mutual fund shares, you need to determine which shares were sold and the basis of those shares. File 1040x free If your shares in a mutual fund were acquired all on the same day and for the same price, figuring their basis is not difficu
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File 1040x free 6. File 1040x free   Ingresos de Propinas Table of Contents Introduction Useful Items - You may want to see: Cómo Mantener un Registro Diario de PropinasRegistro electrónico de propinas. File 1040x free Cómo Declarar las Propinas a su EmpleadorInforme electrónico de propinas. File 1040x free Declaración final. File 1040x free Cómo se Declaran las Propinas en la Declaración de Impuestos Asignación de Propinas Introduction Este capítulo es para empleados que reciben propinas. File 1040x free Todas las propinas que usted reciba son ingresos y están sujetas al impuesto federal sobre los ingresos. File 1040x free Tiene que incluir en el ingreso bruto todas las propinas que reciba directamente, propinas recibidas por medio de cargos a tarjetas de crédito o débito que le son entregadas por su empleador y su participación de todas las propinas recibidas de un fondo común u otro acuerdo de distribución de propinas. File 1040x free El valor de las propinas que no son pagadas en efectivo, tales como boletos, pases u otros artículos de valor también son ingresos y están sujetos al impuesto. File 1040x free La declaración correcta de los ingresos de propinas no es difícil. File 1040x free Usted tiene que completar tres pasos: Mantener un registro diario de propinas. File 1040x free Declarar sus propinas a su empleador. File 1040x free Declarar todas sus propinas en su declaración de impuestos. File 1040x free  Este capítulo le explicará estos tres pasos y le ayudará a determinar cómo completar su declaración de impuestos si no ha realizado los dos primeros pasos. File 1040x free Este capítulo también le mostrará cómo tratar las propinas asignadas. File 1040x free Para información sobre acuerdos y programas especiales relacionados con las propinas, vea la Publicación 531, en inglés. File 1040x free Useful Items - You may want to see: Publicación 531 Reporting Tip Income (Cómo declarar los ingresos de propinas), en inglés 1244-PR Registro Diario de Propinas Recibidas por el(la) Empleado(a) e Informe al Patrono, en español 1244 Employee's Daily Record of Tips and Report to Employer (Registro Diario de Propinas Recibidas por el(la) Empleado(a) e Informe al Empleador), en inglés Formularios (e Instrucciones) 4137 Social Security and Medicare Tax on Unreported Tip Income (Impuestos del Seguro Social y Medicare sobre el ingreso de propinas no declaradas), en inglés 4070-PR Informe al Patrono de Propinas Recibidas por el(la) Empleado(a), disponible en español 4070 Employee's Report of Tips to Employer (Informe al Empleador de Propinas Recibidas por el(la) Empleado(a)), en inglés Cómo Mantener un Registro Diario de Propinas ¿Por qué mantener un registro diario de propinas?   Usted tiene que mantener un registro diario de propinas para que pueda: Declarar sus propinas correctamente a su empleador, Declarar sus propinas correctamente en su declaración de impuestos y Comprobar sus ingresos de propinas si se cuestiona su declaración. File 1040x free Cómo mantener un registro diario de propinas. File 1040x free   Hay dos maneras de mantener un registro diario de propinas. File 1040x free Puede optar por: Anotar la información sobre sus propinas en un diario de propinas o Mantener copias de documentos que comprueben sus propinas, tales como cuentas de restaurantes y recibos de cargos hechos a tarjetas de crédito o de débito. File 1040x free Usted debe mantener su registro diario de propinas junto con su documentación tributaria u otra documentación personal. File 1040x free Tiene que guardar su documentación por el tiempo en que sea importante para la aplicación de la ley tributaria federal. File 1040x free Para información sobre cuánto tiempo debe guardar esta documentación, vea el tema titulado Cuánto Tiempo Debe Mantener Los Documentos , en el capítulo 1. File 1040x free    Si mantiene un registro de propinas, puede utilizar el Formulario 4070A-PR, Registro Diario de Propinas del(la) Empleado(a) (o el Formulario 4070-A, en inglés). File 1040x free Para obtener el Formulario 4070A-PR (o el Formulario 4070-A), pídale al IRS o a su empleador la Publicación 1244-PR (o la Publicación 1244, en inglés). File 1040x free Asimismo, la Publicación 1244-PR está disponible en el sitio web www. File 1040x free irs. File 1040x free gov/pub/irs-pdf/p1244pr. File 1040x free pdf. File 1040x free La Publicación 1244-PR (o la Publicación 1244, en inglés) contiene suficientes copias del Formulario 4070A-PR (o del Formulario 4070-A, en inglés) para un año. File 1040x free Cada día, anote la información solicitada en el formulario. File 1040x free   Además de la información solicitada en el Formulario 4070A-PR, también es necesario que mantenga un registro u otra documentación de la fecha y el valor de toda propina que reciba que no sea en efectivo, tales como boletos, pases u otros artículos de valor. File 1040x free Aunque no declara estas propinas a su empleador, tiene que declararlas en su declaración de impuestos. File 1040x free   Si no utiliza el Formulario 4070A-PR (o el Formulario 4070-A, en inglés), comience su registro escribiendo su nombre, el nombre de su empleador y el nombre del negocio o establecimiento donde trabaja si es distinto al nombre de su empleador. File 1040x free Luego, cada día que trabaje, anote la fecha y la siguiente información: Propinas en efectivo que obtiene directamente de los clientes o de otros empleados. File 1040x free Propinas de los clientes que pagan con tarjeta de crédito y de débito que su empleador le paga. File 1040x free El valor de toda propina que haya recibido que no sea pagada en efectivo, tales como boletos, pases y otros artículos de valor. File 1040x free La cantidad de propinas que usted le pagó a otros empleados a través de un fondo común u otro acuerdo de distribución de propinas y los nombres de los empleados a los cuales les pagó las propinas. File 1040x free Registro electrónico de propinas. File 1040x free   Usted puede utilizar un sistema electrónico provisto por su empleador para mantener un registro de propinas diarias. File 1040x free En tal caso, tiene que recibir y guardar una copia en papel de este registro. File 1040x free Cargos por servicios. File 1040x free   No anote en su registro de propinas la cantidad de ningún cargo por servicios que su empleador añada a la cuenta de un cliente y que luego le pague a usted y que el empleador trate como salario de usted. File 1040x free Los cargos de este tipo son parte de su salario, no son propinas. File 1040x free Vea los ejemplos que se presentan a continuación. File 1040x free Ejemplo 1. File 1040x free El restaurante Buena Comida añade un cargo del 18% a la cuenta de grupos de 6 o más clientes. File 1040x free Juanita forma parte de un grupo de 8 personas. File 1040x free Además del costo de la comida y bebidas que se sirvieron a todos en el grupo de Juanita, la cuenta incluye un monto igual al 18% del costo de las mismas, el cual aparece en la línea para anotar propinas. File 1040x free Dicho monto se incluye en el total de la cuenta. File 1040x free Debido a que Juanita no tenía un derecho ilimitado de determinar el monto en la línea para anotar propinas, el cargo del 18% se considera un cargo por servicios. File 1040x free No anote el cargo del 18% en su registro de propinas. File 1040x free Los cargos por servicios que se le paguen son considerados salarios y no propinas. File 1040x free Ejemplo 2. File 1040x free El restaurante Buena Comida también incluye ejemplos de cálculos para las cantidades de propinas en la parte inferior de la cuenta para la comida y las bebidas servidas a los clientes. File 1040x free En la parte inferior de la cuenta de David, debajo de la línea para la firma, se incluye una línea en blanco para anotar propinas, además de ejemplos de propinas calculadas en base al 15%, 18% y 20% de los costos de la comida y bebidas que le sirvieron. File 1040x free Debido a que David tenía libertad para anotar cualquier cantidad en la línea para anotar propinas, o dejarla en blanco, cualquier cantidad que David anote se considera propina. File 1040x free Cerciórese de incluir esta cantidad en su registro de propinas. File 1040x free Cómo Declarar las Propinas a su Empleador ¿Por qué tiene que declarar sus propinas a su empleador?   Tiene que declarar sus propinas a su empleador para que: Éste pueda retenerle impuesto federal sobre el ingreso, impuestos del Seguro Social, impuestos de Medicare, Impuesto Adicional del Medicare o impuestos de la jubilación ferroviaria, Éste pueda declarar la cantidad correcta de sus ganancias a la Administración del Seguro Social o a la Junta de la Jubilación Ferroviaria (lo cual afecta sus beneficios cuando se jubile o si queda incapacitado, o los beneficios de su familia cuando usted fallezca) y Usted pueda evitar la Multa por no declarar las propinas a su empleador (tema explicado más adelante). File 1040x free Propinas que tiene que declarar a su empleador. File 1040x free   Declárele a su empleador solamente las propinas que reciba en efectivo, en cheques, tarjetas de débito y de crédito. File 1040x free   Si el total de las propinas que reciba de un trabajo en un mes determinado es menos de $20, no declare las propinas de ese mes a ese empleador. File 1040x free   Si recibe propinas conforme a un acuerdo para compartir propinas equitativamente, declare sólo las propinas que reciba y retenga. File 1040x free No declare a su empleador ninguna parte de las propinas que reciba para luego entregárselas a otros empleados. File 1040x free Sin embargo, tiene que declarar las propinas que reciba de otros empleados. File 1040x free    No declare a su empleador el valor de las propinas que no reciba en efectivo, tales como boletos o pases. File 1040x free No se pagan impuestos del Seguro Social, Medicare, Impuesto Adicional del Medicare o impuestos de la jubilación ferroviaria sobre estas propinas. File 1040x free Cómo se declaran las propinas. File 1040x free    Si su empleador no le proporciona otro medio para declarar las propinas, puede usar el Formulario 4070-PR, en español (o el Formulario 4070, en inglés). File 1040x free Escriba la información requerida en el formulario, incluya su firma y la fecha y entrégueselo a su empleador. File 1040x free Si desea obtener copias del formulario para un año completo, comuníquese con el IRS o pídale a su empleador la Publicación 1244-PR (o la Publicación 1244, en inglés). File 1040x free   Si no usa el Formulario 4070-PR (o el Formulario 4070, en inglés), entréguele a su empleador un informe con la información siguiente: Su nombre, dirección y número de Seguro Social. File 1040x free El nombre de su empleador, la dirección y el nombre del establecimiento (si es diferente al nombre del empleador). File 1040x free El mes (o las fechas de cualquier período más corto) en el cual usted recibió propinas. File 1040x free El total de propinas que se tienen que declarar para ese período. File 1040x free Usted tiene que firmar y fechar el informe. File 1040x free Cerciórese de guardar una copia junto con sus documentos tributarios u otros documentos personales. File 1040x free   Su empleador puede requerirle que declare sus propinas más de una vez al mes. File 1040x free Sin embargo, el informe no puede abarcar un período mayor de un mes natural. File 1040x free Informe electrónico de propinas. File 1040x free   Su empleador puede exigir que facilite su informe de propinas por medios electrónicos. File 1040x free Cuándo debe declarar las propinas. File 1040x free   Entregue a su empleador el informe correspondiente a cada mes, a más tardar el día 10 del mes siguiente. File 1040x free Si el día 10 cae en sábado, domingo o día feriado legal, entonces entréguele el informe a su empleador el próximo día siempre que no sea sábado, domingo o día feriado legal. File 1040x free Ejemplo. File 1040x free Tiene que declararle a su empleador la cantidad de propinas que recibió en septiembre del año 2014 a más tardar el día 10 de octubre de 2014. File 1040x free Declaración final. File 1040x free   Si deja de trabajar durante el mes, puede declarar las propinas recibidas cuando termine su empleo. File 1040x free Multa por no declarar las propinas. File 1040x free   Si no le declara a su empleador las propinas que recibió, tal como se requiere, puede estar sujeto a que se le imponga una multa equivalente al 50% de los impuestos del Seguro Social, Medicare, Impuesto Adicional del Medicare o impuesto de la jubilación ferroviaria que adeude sobre las propinas que no declaró. File 1040x free (Para información sobre estos impuestos, vea Cómo declarar los impuestos del Seguro Social, Medicare, Impuesto Adicional del Medicare o impuesto de la jubilación ferroviaria sobre las propinas no declaradas a su empleador , bajo Cómo se Declaran las Propinas en la Declaración de Impuestos, más adelante). File 1040x free La cantidad de la multa que se impone es adicional a los impuestos que adeude. File 1040x free   Puede evitar que esta multa le sea impuesta si puede demostrar que existe causa razonable por la cual no le declaró las propinas a su empleador. File 1040x free Para hacerlo, adjunte un documento escrito a su declaración de impuestos explicando la razón por la cual no declaró la cantidad de propinas que recibió. File 1040x free Entrega de dinero al empleador para el pago de los impuestos. File 1040x free   Es posible que lo que gana normalmente no sea suficiente para que su empleador le retenga todos los impuestos que adeude sobre su salario normal más las propinas que recibe. File 1040x free Si esto ocurre, puede entregarle dinero a su empleador hasta el cierre del año natural para pagar el resto de los impuestos. File 1040x free   Si no le entrega dinero suficiente a su empleador, el mismo aplicará su salario normal y todo dinero que usted le entregue para los impuestos, en el orden siguiente: Todos los impuestos sobre su salario normal. File 1040x free Los impuestos del Seguro Social, Medicare, Impuesto Adicional del Medicare o impuestos de la jubilación ferroviaria sobre las propinas que declaró. File 1040x free Los impuestos federales, estatales y locales sobre los ingresos sobre las propinas que declaró. File 1040x free    Su empleador puede descontar de su próximo salario todo impuesto que quede pendiente. File 1040x free Si al final del año aún no se le han retenido suficientes impuestos, usted puede estar sujeto a una multa por pago insuficiente de impuestos estimados. File 1040x free Vea la Publicación 505, Tax Withholding and Estimated Tax (Retención de impuestos e impuesto estimado), en inglés, para más información. File 1040x free    Impuestos no recaudados. File 1040x free Usted tiene que informar en su declaración de impuestos todo impuesto del Seguro Social y Medicare o impuestos de la jubilación ferroviaria que no se recaudaron al final del año 2013. File 1040x free Estos impuestos no recaudados aparecerán en su Formulario W-2 del año 2013. File 1040x free Vea el tema titulado Cómo se declaran los impuestos no recaudados del Seguro Social, Medicare o impuesto de la jubilación ferroviaria sobre propinas declaradas a su empleador , bajo Cómo se Declaran las Propinas en la Declaración de Impuestos, a continuación. File 1040x free Cómo se Declaran las Propinas en la Declaración de Impuestos Cómo se declaran las propinas. File 1040x free    Declare las propinas que recibió junto con su salario en la línea 7 del Formulario 1040, la línea 7 del Formulario 1040A o en la línea 1 del Formulario 1040EZ. File 1040x free Qué propinas se tienen que declarar. File 1040x free   Usted tiene que informar en su declaración de impuestos todas las propinas que recibió en 2013. File 1040x free Incluya las que recibió en efectivo y las que no fueron en efectivo. File 1040x free Toda propina que usted haya declarado en 2013 a su empleador está incluida en los salarios que aparecen en el recuadro 1 de su Formulario W-2. File 1040x free Sume a la cantidad del recuadro 1 solamente las propinas que usted no le declaró a su empleador. File 1040x free    Si recibió $20 o más en propinas en efectivo o cargadas a tarjetas de crédito o débito en un mes y no las declaró a su empleador, vea más adelante el tema titulado Cómo declarar los impuestos del Seguro Social, Medicare, Impuesto Adicional del Medicare o impuesto de la jubilación ferroviaria sobre las propinas no declaradas a su empleador . File 1040x free    Si usted no llevó un registro diario de las propinas que recibió, tal como se requiere, y aparece una cantidad en el recuadro 8 del Formulario W-2, vea más adelante la sección titulada Asignación de Propinas . File 1040x free   Si usted llevó un registro diario y declaró a su empleador todas las propinas que recibió, tal como se requiere conforme a las reglas explicadas anteriormente, añada a la cantidad que aparece en el recuadro 1 de su Formulario W-2 las siguientes propinas: Las propinas que recibió tanto en efectivo como cargadas a tarjetas de crédito o débito que fueron menos de $20 en un mes cualquiera. File 1040x free El valor de las propinas que no recibió en efectivo, tales como boletos, pases u otros artículos de valor. File 1040x free Ejemplo. File 1040x free Mariano Almendares comenzó a trabajar en el Restaurante Océano Azul (su único empleador en el año 2013) el día 30 de junio y recibió $10,000 en salarios durante el año. File 1040x free Mariano llevó un registro diario de las propinas que recibió durante el año, el cual muestra que en junio recibió $18 en propinas y en el resto del año recibió $7,000 en propinas. File 1040x free Al Sr. File 1040x free Almendares no se le requirió declararle a su empleador las propinas que recibió en junio, pero sí le declaró todas las propinas que recibió durante el resto del año, tal como se requiere. File 1040x free El Formulario W-2 que el Sr. File 1040x free Almendares recibió del Restaurante Océano Azul muestra $17,000 ($10,000 de salario más $7,000 de propinas declaradas) en el recuadro 1. File 1040x free El Sr. File 1040x free Almendares añade a esa cantidad los $18 de propinas que no le declaró al empleador y declara $17,018 como salario en su declaración de impuestos. File 1040x free Cómo declarar los impuestos del Seguro Social, Medicare, Impuesto Adicional del Medicare o impuesto de la jubilación ferroviaria sobre las propinas no declaradas a su empleador. File 1040x free    Si en un mes recibió $20 o más en propinas en efectivo o cargadas a tarjetas de crédito o débito en algún empleo y no declaró todas esas propinas a su empleador, tiene que declarar como impuesto adicional los impuestos del Seguro Social, Medicare e Impuesto Adicional del Medicare sobre las propinas que no declaró a su empleador. File 1040x free Para declarar estos impuestos, tiene que presentar una declaración aunque de otro modo no tuviera que presentarla. File 1040x free Para hacerlo, tiene que usar el Formulario 1040. File 1040x free (No puede presentar el Formulario 1040EZ ni el Formulario 1040A). File 1040x free    Use el Formulario 4137, Social Security and Medicare Tax on Unreported Tip Income (Impuestos del Seguro Social y de Medicare sobre el ingreso de propinas no declaradas), en inglés, para calcular los impuestos al Seguro Social y al Medicare. File 1040x free Anote el impuesto en su declaración como se indica y adjunte el Formulario 4137 debidamente completado a la misma. File 1040x free Use el Formulario 8959, en inglés, para calcular el Impuesto Adicional del Medicare. File 1040x free    Si usted está sujeto a la Railroad Retirement Tax Act (Ley Tributaria para la Jubilación Ferroviaria), no puede utilizar el Formulario 4137 para pagar el impuesto para la jubilación ferroviaria sobre propinas no declaradas. File 1040x free Para obtener crédito para la jubilación ferroviaria, tiene que declarar sus propinas a su empleador. File 1040x free Cómo se declaran los impuestos no recaudados del Seguro Social, Medicare o impuesto de la jubilación ferroviaria sobre propinas declaradas a su empleador. File 1040x free   Usted podría tener impuestos sin recaudar si su salario normal no es suficiente para que su empleador retenga todos los impuestos adeudados y si no le dio a su empleador dinero suficiente para pagar el resto de los impuestos. File 1040x free Para más información, vea Entrega de dinero al empleador para el pago de los impuestos , bajo Cómo Declarar las Propinas a su Empleador, anteriormente. File 1040x free   Si su empleador no pudo recaudar todos los impuestos al Seguro Social y al Medicare o impuesto de la jubilación ferroviaria que usted adeuda sobre propinas declaradas para 2013, los impuestos por recaudar se mostrarán en el recuadro 12 del Formulario W-2 (códigos A y B). File 1040x free Tiene que declarar estas cantidades como impuesto adicional en su declaración. File 1040x free A diferencia de la parte no recaudada del impuesto regular al Medicare (1. File 1040x free 45%), el Impuesto Adicional del Medicare no recaudado no se declara en el recuadro 12 del Formulario W-2 con el código B. File 1040x free    Para declarar estos impuestos no recaudados, tiene que presentar una declaración aunque no tuviera que presentarla de otro modo. File 1040x free Tiene que declarar estos impuestos en la línea 60 del Formulario 1040. File 1040x free Vea las instrucciones para la línea 60 del Formulario 1040, disponibles en inglés. File 1040x free (No puede presentar el Formulario 1040EZ ni el Formulario 1040A). File 1040x free Asignación de Propinas Si su empleador le asignó propinas, las mismas aparecen por separado en el recuadro 8 de su Formulario W-2. File 1040x free Estas propinas no están incluidas en el recuadro 1 con sus salarios y propinas declaradas. File 1040x free Si el recuadro 8 está en blanco, lo que se explica en esta sección no es aplicable en su caso. File 1040x free ¿Qué son propinas asignadas?   Éstas son propinas que su empleador le asignó, además de las que usted le declaró para el año. File 1040x free Su empleador habrá hecho esto únicamente si: Usted trabajó en un establecimiento (restaurante, bar o negocio similar) que tiene que asignar las propinas a los empleados y La cantidad de propinas que declaró a su empleador fue menos de su parte del 8% de las ventas de comidas y bebidas del establecimiento donde usted trabajó. File 1040x free De las propinas asignadas, no se retienen impuestos sobre los ingresos, Seguro Social, Medicare, Impuesto Adicional del Medicare ni impuestos de la jubilación ferroviaria. File 1040x free ¿Cómo se calcula su asignación de propinas?   Las propinas que se le asignan a usted son su parte de una cantidad calculada restando las propinas declaradas de todos los empleados del 8% (u otra tasa más baja aprobada) de las ventas de comida y bebida (que no sean ventas de comida para llevar por los clientes o ventas con un cargo por servicio del 10% o más). File 1040x free Su parte de esa cantidad fue calculada utilizando un método provisto por un acuerdo laboral entre empleador y empleado o por un método provisto por los reglamentos del IRS basado en las ventas hechas o las horas trabajadas por los empleados. File 1040x free Para más información sobre el método de asignación exacto utilizado, consulte a su empleador. File 1040x free ¿Tiene que incluir en la declaración sus propinas asignadas?   Tiene que incluir en la declaración de impuestos todas las propinas que recibió en 2013, incluyendo las propinas pagadas en efectivo como las no pagadas en efectivo. File 1040x free Todas las propinas que usted haya declarado en 2013 a su empleador están incluidas en los salarios que aparecen en el recuadro 1 de su Formulario W-2. File 1040x free Sume a la cantidad del recuadro 1 solamente las propinas que usted no le declaró a su empleador. File 1040x free Esto tiene que incluir toda propina asignada mostrada en el recuadro 8 de su(s) Formulario(s) W-2, a menos que tenga registros confiables que muestren que recibió menos propinas en el año que las cifras asignadas. File 1040x free   Vea los temas titulados Qué propinas se tienen que declarar , bajo Cómo se Declaran las Propinas en la Declaración de Impuestos y Cómo Mantener un Registro Diario de Propinas , anteriormente. File 1040x free Cómo declarar las propinas asignadas. File 1040x free   Declare la cantidad en el recuadro 1 y las propinas asignadas en el recuadro 8 de su(s) Formulario(s) W-2 como salario en la línea 7 del Formulario 1040, en la línea 8 del Formulario 1040NR o en la línea 3 del Formulario 1040NR-EZ. File 1040x free (No puede presentar el Formulario 1040A ni el Formulario 1040EZ cuando se tienen propinas asignadas). File 1040x free    Debido a que los impuestos del Seguro Social, Medicare o Impuesto Adicional del Medicare no fueron retenidos de las propinas asignadas, tiene que declararlos como impuestos adicionales en su declaración. File 1040x free Complete el Formulario 4137 e incluya las propinas asignadas en la línea 1 del formulario. File 1040x free Vea Cómo declarar los impuestos del Seguro Social, Medicare, Impuesto Adicional del Medicare o impuesto de la jubilación ferroviaria sobre las propinas no declaradas a su empleador , bajo Cómo se Declaran las Propinas en la Declaración de Impuestos. 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