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File free tax return Publication 721 - Main Content Table of Contents Part I General InformationRefund of Contributions Tax Withholding and Estimated Tax Filing Requirements Part II Rules for RetireesAnnuity starting date. File free tax return Gross monthly rate. File free tax return Your cost. File free tax return Choosing a survivor annuity after retirement. File free tax return Canceling a survivor annuity after retirement. File free tax return Annuity starting date after 1986. File free tax return Annuity starting date before 1987. File free tax return Simplified Method General Rule Three-Year Rule Alternative Annuity Option Federal Gift Tax Retirement During the Past Year Reemployment After Retirement Nonresident Aliens Thrift Savings Plan Rollover Rules Distributions Used To Pay Insurance Premiums for Public Safety Officers How To Report Benefits Part III Rules for Disability Retirement and Credit for the Elderly or the DisabledDisability Annuity Other Benefits Credit for the Elderly or the Disabled Part IV Rules for Survivors of Federal EmployeesFERS Death Benefit CSRS or FERS Survivor Annuity Lump-Sum CSRS or FERS Payment Thrift Savings Plan Federal Estate Tax Part V Rules for Survivors of Federal RetireesCSRS or FERS Survivor Annuity Lump-Sum CSRS or FERS Payment Voluntary Contributions Thrift Savings Plan Federal Estate Tax Income Tax Deduction for Estate Tax Paid How To Get Tax HelpLow Income Taxpayer Clinics Part I General Information This part of the publication contains information that can apply to most recipients of civil service retirement benefits. File free tax return Refund of Contributions If you leave federal government service or transfer to a job not under the CSRS or FERS and you are not eligible for an immediate annuity, you can choose to receive a refund of the money in your CSRS or FERS retirement account. File free tax return The refund will include both regular and voluntary contributions you made to the fund, plus any interest payable. File free tax return If the refund includes only your contributions, none of the refund is taxable. File free tax return If it includes any interest, the interest is taxable unless you roll it over directly into another qualified plan or a traditional individual retirement arrangement (IRA). File free tax return If you do not have the Office of Personnel Management (OPM) transfer the interest to an IRA or other plan in a direct rollover, tax will be withheld at a 20% rate. File free tax return See Rollover Rules in Part II for information on how to make a rollover. File free tax return Interest is not paid on contributions to the CSRS for service after 1956 unless your service was for more than 1 year but not more than 5 years. File free tax return Therefore, many employees who withdraw their contributions under the CSRS do not get interest and do not owe any tax on their refund. File free tax return If you do not roll over interest included in your refund, it may qualify as a lump-sum distribution eligible for capital gain treatment or the 10-year tax option. File free tax return If you separate from service before the calendar year in which you reach age 55, it may be subject to an additional 10% tax on early distributions. File free tax return For more information, see Lump-Sum Distributions and Tax on Early Distributions in Publication 575. File free tax return A lump-sum distribution is eligible for capital gain treatment or the 10-year tax option only if the plan participant was born before January 2, 1936. File free tax return Tax Withholding and Estimated Tax The CSRS or FERS annuity you receive is subject to federal income tax withholding, unless you choose not to have tax withheld. File free tax return OPM will tell you how to make the choice. File free tax return The choice for no withholding remains in effect until you change it. File free tax return These withholding rules also apply to a disability annuity, whether received before or after minimum retirement age. File free tax return If you choose not to have tax withheld, or if you do not have enough tax withheld, you may have to make estimated tax payments. File free tax return You may owe a penalty if the total of your withheld tax and estimated tax does not cover most of the tax shown on your return. File free tax return Generally, you will owe the penalty for 2014 if the additional tax you must pay with your return is $1,000 or more and more than 10% of the tax to be shown on your 2014 return. File free tax return For more information, including exceptions to the penalty, see chapter 4 of Publication 505, Tax Withholding and Estimated Tax. File free tax return Form CSA 1099R. File free tax return   Form CSA 1099R is mailed to you by OPM each year. File free tax return It will show any tax you had withheld. File free tax return File a copy of Form CSA 1099R with your tax return if any federal income tax was withheld. File free tax return    You also can view and download your Form CSA 1099R by visiting the OPM website at  www. File free tax return servicesonline. File free tax return opm. File free tax return gov. File free tax return To log in, you will need your retirement CSA claim number and your personal identification number. File free tax return Choosing no withholding on payments outside the United States. File free tax return   The choice for no withholding generally cannot be made for annuity payments to be delivered outside the United States and its possessions. File free tax return   To choose no withholding if you are a U. File free tax return S. File free tax return citizen or resident alien, you must provide OPM with your home address in the United States or its possessions. File free tax return Otherwise, OPM has to withhold tax. File free tax return For example, OPM must withhold if you provide a U. File free tax return S. File free tax return address for a nominee, trustee, or agent (such as a bank) to whom the benefits are to be delivered, but you do not provide your own U. File free tax return S. File free tax return home address. File free tax return   If you do not provide a home address in the United States or its possessions, you can choose not to have tax withheld only if you certify to OPM that you are not a U. File free tax return S. File free tax return citizen, a U. File free tax return S. File free tax return resident alien, or someone who left the United States to avoid tax. File free tax return But if you so certify, you may be subject to the 30% flat rate withholding that applies to nonresident aliens. File free tax return For details, see Publication 519, U. File free tax return S. File free tax return Tax Guide for Aliens. File free tax return Withholding certificate. File free tax return   If you give OPM a Form W-4P-A, Election of Federal Income Tax Withholding, you can choose not to have tax withheld or you can choose to have tax withheld. File free tax return The amount of tax withheld depends on your marital status, the number of withholding allowances, and any additional amount you designate to be withheld. File free tax return If you do not make either of these choices, OPM must withhold as if you were married with three withholding allowances. File free tax return To change the amount of tax withholding or to stop withholding, call OPM's Retirement Information Office at 1-888-767-6738 (customers within the local Washington, D. File free tax return C. File free tax return calling area must call 202-606-0500). File free tax return No special form is needed. File free tax return You will need your retirement CSA or CSF claim number, your social security number, and your personal identification number (PIN) when you call. File free tax return If you have TTY/TDD equipment, call 1-855–887–4957. File free tax return If you need a PIN, call OPM's Retirement Information Office. File free tax return You also can change the amount of withholding or stop withholding online by visiting the OPM website at www. File free tax return servicesonline. File free tax return opm. File free tax return gov. File free tax return You will need your retirement CSA or CSF claim number and your PIN. File free tax return Withholding from certain lump-sum payments. File free tax return   If you leave the federal government before becoming eligible to retire and you apply for a refund of your CSRS or FERS contributions, or you die without leaving a survivor eligible for an annuity, you or your beneficiary will receive a distribution of your contributions to the retirement plan plus any interest payable. File free tax return Tax will be withheld at a 20% rate on the interest distributed. File free tax return However, tax will not be withheld if you have OPM transfer (roll over) the interest directly to your traditional IRA or other qualified plan. File free tax return If you have OPM transfer (roll over) the interest directly to a Roth IRA, the entire amount will be taxed in the current year. File free tax return Because no income tax will be withheld at the time of the transfer, you may want to increase your withholding or pay estimated taxes. File free tax return See Rollover Rules in Part II. File free tax return If you receive only your contributions, no tax will be withheld. File free tax return Withholding from Thrift Savings Plan payments. File free tax return   Generally, a distribution that you receive from the TSP is subject to federal income tax withholding. File free tax return The amount withheld is: 20% if the distribution is an eligible rollover distribution, 10% if it is a nonperiodic distribution other than an eligible rollover distribution, or An amount determined as if you were married with three withholding allowances, unless you submit a withholding certificate (Form W-4P), if it is a periodic distribution. File free tax return  However, you usually can choose not to have tax withheld from TSP payments other than eligible rollover distributions. File free tax return By January 31 after the end of the year in which you receive a distribution, the TSP will issue Form 1099-R showing the total distributions you received in the prior year and the amount of tax withheld. File free tax return   For a detailed discussion of withholding on distributions from the TSP, see Important Tax Information About Payments From Your TSP Account, available from your agency personnel office or from the TSP. File free tax return The above document is also available in the “Forms & Publications” section of the TSP website at www. File free tax return tsp. File free tax return gov. File free tax return Estimated tax. File free tax return   Generally, you must make estimated tax payments for 2014 if you expect to owe at least $1,000 in tax for 2014 (after subtracting your withholding and credits) and you expect your withholding and your credits to be less than the smaller of: 90% of the tax to be shown on your income tax return for 2014, or 100% of the tax shown on your 2013 income tax return (110% of that amount if the adjusted gross income shown on the return was more than $150,000 ($75,000 if your filing status for 2014 will be married filing separately)). File free tax return The return must cover all 12 months. File free tax return   You do not have to pay estimated tax for 2014 if you were a U. File free tax return S. File free tax return citizen or resident alien for all of 2013 and you had no tax liability for the full 12-month 2013 tax year. File free tax return   Publication 505 contains information that you can use to help you figure your estimated tax payments. File free tax return Filing Requirements If your gross income, including the taxable part of your annuity, is less than a certain amount, you generally do not have to file a federal income tax return for that year. File free tax return The gross income filing requirements for the tax year are in the instructions to Form 1040, 1040A, or 1040EZ. File free tax return Children. File free tax return   If you are the surviving spouse of a federal employee or retiree and your monthly annuity check includes a survivor annuity for one or more children, each child's annuity counts as his or her own income (not yours) for federal income tax purposes. File free tax return   If your child can be claimed as a dependent, treat the taxable part of his or her annuity as unearned income when applying the filing requirements for dependents. File free tax return Form CSF 1099R. File free tax return   Form CSF 1099R will be mailed to you by January 31 after the end of each tax year. File free tax return It will show the total amount of the annuity you received in the past year. File free tax return It also should show, separately, the survivor annuity for a child or children. File free tax return Only the part that is each individual's survivor annuity should be shown on that individual's Form 1040 or 1040A. File free tax return   If your Form CSF 1099R does not show separately the amount paid to you for a child or children, attach a statement to your return, along with a copy of Form CSF 1099R, explaining why the amount shown on the tax return differs from the amount shown on Form CSF 1099R. File free tax return    You also can view and download your Form CSF 1099R by visiting the OPM website at  www. File free tax return servicesonline. File free tax return opm. File free tax return gov. File free tax return To log in you will need your retirement CSF claim number and personal identification number. File free tax return    You may request a Summary of Payments, showing the amounts paid to you for your child(ren), from OPM by calling OPM's Retirement Information Office at 1-888-767-6738 (customers within the local Washington, D. File free tax return C. File free tax return calling area must call 202-606-0500). File free tax return You will need your CSF claim number and your social security number when you call. File free tax return Taxable part of annuity. File free tax return   To find the taxable part of a retiree's annuity when applying the filing requirements, see the discussion in Part II, Rules for Retirees , or Part III, Rules for Disability Retirement and Credit for the Elderly or the Disabled , whichever applies. File free tax return To find the taxable part of each survivor annuity when applying the filing requirements, see the discussion in Part IV, Rules for Survivors of Federal Employees , or Part V, Rules for Survivors of Federal Retirees , whichever applies. File free tax return Part II Rules for Retirees This part of the publication is for retirees who retired on nondisability retirement. File free tax return If you retired on disability before you reached your minimum retirement age, see Part III, Rules for Disability Retirement and Credit for the Elderly or the Disabled. File free tax return However, on the day after you reach your minimum retirement age, use the rules in this section to report your disability retirement and begin recovering your cost. File free tax return Annuity statement. File free tax return   The statement you received from OPM when your CSRS or FERS annuity was approved shows the commencing date (the annuity starting date), the gross monthly rate of your annuity benefit, and your total contributions to the retirement plan (your cost). File free tax return You will use this information to figure the tax-free recovery of your cost. File free tax return Annuity starting date. File free tax return   If you retire from federal government service on a regular annuity, your annuity starting date is the commencing date on your annuity statement from OPM. File free tax return If something delays payment of your annuity, such as a late application for retirement, it does not affect the date your annuity begins to accrue or your annuity starting date. File free tax return Gross monthly rate. File free tax return   This is the amount you were to get after any adjustment for electing a survivor's annuity or for electing the lump-sum payment under the alternative annuity option (if either applied) but before any deduction for income tax withholding, insurance premiums, etc. File free tax return Your cost. File free tax return   Your monthly annuity payment contains an amount on which you have previously paid income tax. File free tax return This amount represents part of your contributions to the retirement plan. File free tax return Even though you did not receive the money that was contributed to the plan, it was included in your gross income for federal income tax purposes in the years it was taken out of your pay. File free tax return   The cost of your annuity is the total of your contributions to the retirement plan, as shown on your annuity statement from OPM. File free tax return If you elected the alternative annuity option, it includes any deemed deposits and any deemed redeposits that were added to your lump-sum credit. File free tax return (See Lump-sum credit under Alternative Annuity Option, later. File free tax return )   If you repaid contributions that you had withdrawn from the retirement plan earlier, or if you paid into the plan to receive full credit for service not subject to retirement deductions, the entire repayment, including any interest, is a part of your cost. File free tax return You cannot claim an interest deduction for any interest payments. File free tax return You cannot treat these payments as voluntary contributions; they are considered regular employee contributions. File free tax return Recovering your cost tax free. File free tax return   How you figure the tax-free recovery of the cost of your CSRS or FERS annuity depends on your annuity starting date. File free tax return If your annuity starting date is before July 2, 1986, either the Three-Year Rule or the General Rule (both discussed later) applies to your annuity. File free tax return If your annuity starting date is after July 1, 1986, and before November 19, 1996, you could have chosen to use either the General Rule or the Simplified Method (discussed later). File free tax return If your annuity starting date is after November 18, 1996, you must use the Simplified Method. File free tax return   Under both the General Rule and the Simplified Method, each of your monthly annuity payments is made up of two parts: the tax-free part that is a return of your cost, and the taxable part that is the amount of each payment that is more than the part that represents your cost (unless such payment is used for purposes discussed under Distributions Used To Pay Insurance Premiums for Public Safety Officers , later). File free tax return The tax-free part is a fixed dollar amount. File free tax return It remains the same, even if your annuity is increased. File free tax return Generally, this rule applies as long as you receive your annuity. File free tax return However, see Exclusion limit , later. File free tax return Choosing a survivor annuity after retirement. File free tax return    If you retired without a survivor annuity and report your annuity under the Simplified Method, do not change your tax-free monthly amount even if you later choose a survivor annuity. File free tax return   If you retired without a survivor annuity and report your annuity under the General Rule, you must figure the tax-free part of your annuity using a new exclusion percentage if you later choose a survivor annuity and take reduced annuity payments. File free tax return To figure the new exclusion percentage, reduce your cost by the amount you previously recovered tax free. File free tax return Figure the expected return as of the date the reduced annuity begins. File free tax return For details on the General Rule, see Publication 939. File free tax return Canceling a survivor annuity after retirement. File free tax return   If you retired with a survivor annuity payable to your spouse upon your death and you notify OPM that your marriage has ended, your annuity might be increased to remove the reduction for a survivor benefit. File free tax return The increased annuity does not change the cost recovery you figured at the annuity starting date. File free tax return The tax-free part of each annuity payment remains the same. File free tax return    For more information about choosing or canceling a survivor annuity after retirement, contact OPM's Retirement Information Office at 1-888-767-6738 (customers within the local Washington, D. File free tax return C. File free tax return calling area must call 202-606-0500). File free tax return Exclusion limit. File free tax return   Your annuity starting date determines the total amount of annuity payments that you can exclude from income over the years. File free tax return Annuity starting date after 1986. File free tax return   If your annuity starting date is after 1986, the total amount of annuity income that you (or the survivor annuitant) can exclude over the years as a return of your cost cannot exceed your total cost. File free tax return Annuity payments you or your survivors receive after the total cost in the plan has been recovered are generally fully taxable. File free tax return Example. File free tax return Your annuity starting date is after 1986 and you exclude $100 a month under the Simplified Method. File free tax return If your cost is $12,000, the exclusion ends after 10 years (120 months). File free tax return Thereafter, your entire annuity is generally fully taxable. File free tax return Annuity starting date before 1987. File free tax return   If your annuity starting date is before 1987, you can continue to take your monthly exclusion figured under the General Rule or Simplified Method for as long as you receive your annuity. File free tax return If you chose a joint and survivor annuity, your survivor can continue to take that same exclusion. File free tax return The total exclusion may be more than your cost. File free tax return Deduction of unrecovered cost. File free tax return   If your annuity starting date is after July 1, 1986, and the cost of your annuity has not been fully recovered at your (or the survivor annuitant's) death, a deduction is allowed for the unrecovered cost. File free tax return The deduction is claimed on your (or your survivor's) final tax return as a miscellaneous itemized deduction (not subject to the 2%-of-adjusted-gross-income limit). File free tax return If your annuity starting date is before July 2, 1986, no tax benefit is allowed for any unrecovered cost at death. File free tax return Simplified Method If your annuity starting date is after November 18, 1996, you must use the Simplified Method to figure the tax-free part of your CSRS or FERS annuity. File free tax return (OPM has figured the taxable amount of your annuity shown on your Form CSA 1099R using the Simplified Method. File free tax return ) You could have chosen to use either the Simplified Method or the General Rule if your annuity starting date is after July 1, 1986, but before November 19, 1996. File free tax return The Simplified Method does not apply if your annuity starting date is before July 2, 1986. File free tax return Under the Simplified Method, you figure the tax-free part of each full monthly payment by dividing your cost by a number of months based on your age. File free tax return This number will differ depending on whether your annuity starting date is before November 19, 1996, or after November 18, 1996. File free tax return If your annuity starting date is after 1997 and your annuity includes a survivor benefit for your spouse, this number is based on your combined ages. File free tax return Worksheet A. File free tax return   Use Worksheet A. File free tax return Simplified Method (near the end of this publication), to figure your taxable annuity. File free tax return Be sure to keep the completed worksheet. File free tax return It will help you figure your taxable amounts for later years. File free tax return Instead of Worksheet A, you generally can use the Simplified Method Worksheet in the instructions for Form 1040, Form 1040A, or Form 1040NR to figure your taxable annuity. File free tax return However, you must use Worksheet A and Worksheet B in this publication if you chose the alternative annuity option, discussed later. File free tax return Line 2. File free tax return   See Your cost , earlier, for an explanation of your cost in the plan. File free tax return If your annuity starting date is after November 18, 1996, and you chose the alternative annuity option (explained later), you must reduce your cost by the tax-free part of the lump-sum payment you received. File free tax return Line 3. File free tax return   The number you enter on line 3 is the appropriate number from Table 1 or 2 representing approximate life expectancies in months. File free tax return If your annuity starting date is after 1997, use: Table 1 for an annuity without a survivor benefit, or Table 2 for an annuity with a survivor benefit. File free tax return If your annuity starting date is before 1998, use Table 1. File free tax return Line 6. File free tax return   If you received contributions tax free before 2013, the amount previously recovered tax free that you must enter on line 6 is the total amount from line 10 of last year's worksheet. File free tax return If your annuity starting date is before November 19, 1996, and you chose the alternative annuity option, this amount includes the tax-free part of the lump-sum payment you received. File free tax return Example. File free tax return Bill Smith retired from the Federal Government on March 31, 2013, under an annuity that will provide a survivor benefit for his wife, Kathy. File free tax return His annuity starting date is April 1, 2013, the annuity is paid in arrears, and he received his first monthly annuity payment on May 1, 2013. File free tax return He must use the Simplified Method to figure the tax-free part of his annuity benefits. File free tax return Bill's monthly annuity benefit is $1,000. File free tax return He had contributed $31,000 to his retirement plan and had received no distributions before his annuity starting date. File free tax return At his annuity starting date, he was 65 and Kathy was 57. File free tax return Bill's completed Worksheet A is shown later. File free tax return To complete line 3, he used Table 2 at the bottom of the worksheet and found that 310 is the number in the second column opposite the age range that includes 122 (his and Kathy's combined ages). File free tax return Bill keeps a copy of the completed worksheet for his records. File free tax return It will help him (and Kathy, if she survives him) figure the taxable amount of the annuity in later years. File free tax return Bill's tax-free monthly amount is $100. File free tax return (See line 4 of the worksheet. File free tax return ) If he lives to collect more than 310 monthly payments, he will generally have to include in his gross income the full amount of any annuity payments received after 310 payments have been made. File free tax return If Bill does not live to collect 310 monthly payments and his wife begins to receive monthly payments, she also will exclude $100 from each monthly payment until 310 payments (Bill's and hers) have been collected. File free tax return If she dies before 310 payments have been made, a miscellaneous itemized deduction (not subject to the 2%-of-adjusted- gross-income limit) will be allowed for the unrecovered cost on her final income tax return. File free tax return General Rule If your annuity starting date is after November 18, 1996, you cannot use the General Rule to figure the tax-free part of your CSRS or FERS annuity. File free tax return If your annuity starting date is after July 1, 1986, but before November 19, 1996, you could have chosen to use either the General Rule or the Simplified Method. File free tax return If your annuity starting date is before July 2, 1986, you could have chosen to use the General Rule only if you could not use the Three-Year Rule. File free tax return Under the General Rule, you figure the tax-free part of each full monthly payment by multiplying the initial gross monthly rate of your annuity by an exclusion percentage. File free tax return Figuring this percentage is complex and requires the use of actuarial tables. File free tax return For these tables and other information about using the General Rule, see Publication 939. File free tax return Three-Year Rule If your annuity starting date was before July 2, 1986, you probably had to report your annuity using the Three-Year Rule. File free tax return Under this rule, you excluded all the annuity payments from income until you fully recovered your cost. File free tax return After your cost was recovered, all payments became fully taxable. File free tax return You cannot use another rule to again exclude amounts from income. File free tax return The Three-Year Rule was repealed for retirees whose annuity starting date is after July 1, 1986. File free tax return Worksheet A. File free tax return Simplified Method for Bill Smith See the instructions in Part II of this publication under Simplified Method. File free tax return 1. File free tax return Enter the total pension or annuity payments received this year. File free tax return Also, add this amount to the total for Form 1040, line 16a; Form 1040A, line 12a; or Form 1040NR, line 17a 1. File free tax return $ 8,000 2. File free tax return Enter your cost in the plan at the annuity starting date, plus any death benefit exclusion*. File free tax return See Your cost in Part II, Rules for Retirees, earlier 2. File free tax return 31,000 Note: If your annuity starting date was before this year and you completed this worksheet last year, skip line 3 and enter the amount from line 4 of last year's worksheet on line 4 below (even if the amount of your pension or annuity has changed). File free tax return Otherwise, go to line 3. File free tax return   3. File free tax return Enter the appropriate number from Table 1 below. File free tax return But if your annuity starting date was after 1997 and the payments are for your life and that of your beneficiary, enter the appropriate number from Table 2 below. File free tax return 3. File free tax return 310 4. File free tax return Divide line 2 by the number on line 3 4. File free tax return 100 5. File free tax return Multiply line 4 by the number of months for which this year's payments were made. File free tax return If your annuity starting date was before 1987, enter this amount on line 8 below and skip lines 6, 7, 10, and 11. File free tax return Otherwise, go to line 6 5. File free tax return 800 6. File free tax return Enter any amounts previously recovered tax free in years after 1986. File free tax return This is the amount shown on line 10 of your worksheet for last year 6. File free tax return 0 7. File free tax return Subtract line 6 from line 2 7. File free tax return 31,000 8. File free tax return Enter the smaller of line 5 or line 7 8. File free tax return 800 9. File free tax return Taxable amount for year. File free tax return Subtract line 8 from line 1. File free tax return Enter the result, but not less than zero. File free tax return Also, add this amount to the total for Form 1040, line 16b, or Form 1040A, line 12b. File free tax return If you are a nonresident alien, also enter this amount on line 1 of Worksheet C. File free tax return If your Form CSA 1099R or Form CSF 1099R shows a larger amount, use the amount figured on this line instead. File free tax return If you are a retired public safety officer, see Distributions Used To Pay Insurance Premiums for Public Safety Officers in Part II before entering an amount on your tax return or Worksheet C, line 1 9. File free tax return $7,200 10. File free tax return Was your annuity starting date before 1987?   Yes. File free tax return Do not complete the rest of this worksheet. File free tax return    No. File free tax return Add lines 6 and 8. File free tax return This is the amount you have recovered tax free through 2013. File free tax return You will need this number if you need to fill out this worksheet next year 10. File free tax return 800 11. File free tax return Balance of cost to be recovered. File free tax return Subtract line 10 from line 2. File free tax return If zero, you will not have to complete this worksheet next year. File free tax return The payments you receive next year will generally be fully taxable 11. File free tax return $30,200 Table 1 for Line 3 Above    IF your age on your  annuity starting date was   AND your annuity starting date was—     before November 19, 1996,  THEN enter on line 3 after November 18, 1996,  THEN enter on line 3   55 or under 300 360   56–60 260 310   61–65 240 260   66–70 170 210   71 or over 120 160  Table 2 for Line 3 Above    IF the annuitants' combined ages on your annuity starting date were   THEN enter on line 3         110 or under   410         111–120   360         121–130   310         131–140   260         141 or over   210       * A death benefit exclusion of up to $5,000 applied to certain benefits received by survivors of employees who died before August 21, 1996. File free tax return Alternative Annuity Option If you are eligible, you may choose an alternative form of annuity. File free tax return If you make this choice, you will receive a lump-sum payment equal to your contributions to the plan and a reduced monthly annuity. File free tax return You are eligible to make this choice if you meet all of the following requirements. File free tax return You are retiring, but not on disability. File free tax return You have a life-threatening illness or other critical medical condition. File free tax return You do not have a former spouse entitled to court ordered benefits based on your service. File free tax return If you are not eligible or do not choose this alternative annuity, you can skip the following discussion and go to Federal Gift Tax , later. File free tax return Lump-Sum Payment The lump-sum payment you receive under the alternative annuity option generally has a tax-free part and a taxable part. File free tax return The tax-free part represents part of your cost. File free tax return The taxable part represents part of the earnings on your annuity contract. File free tax return Your lump-sum credit (discussed later) may include a deemed deposit or redeposit that is treated as being included in your lump-sum payment even though you do not actually receive such amounts. File free tax return Deemed deposits and redeposits, which are described later under Lump-sum credit , are taxable to you in the year of retirement. File free tax return Your taxable amount may therefore be more than the lump-sum payment you receive. File free tax return You must include the taxable part of the lump-sum payment in your income for the year you receive the payment unless you roll it over into another qualified plan or an IRA. File free tax return If you do not have OPM transfer the taxable amount to an IRA or other plan in a direct rollover, tax will be withheld at a 20% rate. File free tax return See Rollover Rules , later, for information on how to make a rollover. File free tax return OPM can make a direct rollover only up to the amount of the lump-sum payment. File free tax return Therefore, to defer tax on the full taxable amount if it is more than the payment, you must add funds from another source. File free tax return The taxable part of the lump-sum payment does not qualify as a lump-sum distribution eligible for capital gain treatment or the 10-year tax option. File free tax return It also may be subject to an additional 10% tax on early distributions if you separate from service before the calendar year in which you reach age 55, even if you reach age 55 in the year you receive the lump-sum payment. File free tax return For more information, see Lump-Sum Distributions and Tax on Early Distributions in Publication 575. File free tax return Worksheet B. File free tax return   Use Worksheet B. File free tax return Lump-Sum Payment (near the end of this publication), to figure the taxable part of your lump-sum payment. File free tax return Be sure to keep the completed worksheet for your records. File free tax return   To complete the worksheet, you will need to know the amount of your lump-sum credit and the present value of your annuity contract. File free tax return Lump-sum credit. File free tax return   Generally, this is the same amount as the lump-sum payment you receive (the total of your contributions to the retirement system). File free tax return However, for purposes of the alternative annuity option, your lump-sum credit also may include deemed deposits and redeposits that OPM advanced to your retirement account so that you are given credit for the service they represent. File free tax return Deemed deposits (including interest) are for federal employment during which no retirement contributions were taken out of your pay. File free tax return Deemed redeposits (including interest) are for any refunds of retirement contributions that you received and did not repay. File free tax return You are treated as if you had received a lump-sum payment equal to the amount of your lump-sum credit and then had made a repayment to OPM of the advanced amounts. File free tax return Present value of your annuity contract. File free tax return   The present value of your annuity contract is figured using actuarial tables provided by the IRS. File free tax return If you are receiving a lump-sum payment under the Alternative Annuity Option, you can write to the address below to find out the present value of your annuity contract. File free tax return Internal Revenue Service Attn: Actuarial Group 2 TE/GE SE:T:EP:RA:T:A2 NCA-629 1111 Constitution Ave. File free tax return , NW Washington, DC 20224-0002 Example. File free tax return David Brown retired from the federal government in 2013, one month after his 55th birthday. File free tax return He had contributed $31,000 to his retirement plan and chose to receive a lump-sum payment of that amount under the alternative annuity option. File free tax return The present value of his annuity contract was $155,000. File free tax return The tax-free part and the taxable part of the lump-sum payment are figured using Worksheet B, as shown below. File free tax return The taxable part ($24,800) is also his net cost in the plan, which is used to figure the taxable part of his reduced annuity payments. File free tax return See Reduced Annuity , later. File free tax return Worksheet B. File free tax return Lump-Sum Payment for David Brown See the instructions in Part II of this publication under Alternative Annuity Option . File free tax return  1. File free tax return Enter your lump-sum credit (your cost in the plan at the annuity starting date) 1. File free tax return $ 31,000 2. File free tax return Enter the present value of your annuity contract 2. File free tax return 155,000 3. File free tax return Divide line 1 by line 2 3. File free tax return . File free tax return 20 4. File free tax return Tax-free amount. File free tax return Multiply line 1 by line 3. File free tax return (Caution: Do not include this amount on line 6 of Worksheet A in this publication. File free tax return ) 4. File free tax return $6,200 5. File free tax return Taxable amount (net cost in the plan). File free tax return Subtract line 4 from line 1. File free tax return Include this amount in the total on Form 1040, line 16b; Form 1040A, line 12b; or Form 1040NR, line 17b. File free tax return Also, enter this amount on line 2 of Worksheet A in this publication. File free tax return 5. File free tax return $24,800   Lump-sum payment in installments. File free tax return   If you choose the alternative annuity option, you usually will receive the lump-sum payment in two equal installments. File free tax return You will receive the first installment after you make the choice upon retirement. File free tax return The second installment will be paid to you, with interest, in the next calendar year. File free tax return (Exceptions to the installment rule are provided for cases of critical medical need. File free tax return )   Even though the lump-sum payment is made in installments, the overall tax treatment (explained at the beginning of this discussion) is the same as if the whole payment were paid at once. File free tax return If the payment has a tax-free part, you must treat the taxable part as received first. File free tax return How to report. File free tax return   Add any actual or deemed payment of your lump-sum credit (defined earlier) to the total for Form 1040, line 16a; Form 1040A, line 12a; or Form 1040NR, line 17a. File free tax return Add the taxable part to the total for Form 1040, line 16b; Form 1040A, line 12b; or Form 1040NR, line 17b, unless you roll over the taxable part to your traditional IRA or a qualified retirement plan. File free tax return    If you receive the lump-sum payment in two installments, include any interest paid with the second installment on line 8a of either Form 1040 or Form 1040A, or on line 9a of Form 1040NR. File free tax return Reduced Annuity If you have chosen to receive a lump-sum payment under the alternative annuity option, you also will receive reduced monthly annuity payments. File free tax return These annuity payments each will have a tax-free and a taxable part. File free tax return To figure the tax-free part of each annuity payment, you must use the Simplified Method (Worksheet A). File free tax return For instructions on how to complete the worksheet, see Worksheet A under Simplified Method, earlier. File free tax return To complete Worksheet A, line 2, you must reduce your cost in the plan by the tax-free part of the lump-sum payment you received. File free tax return Enter as your net cost on line 2 the amount from Worksheet B, line 5. File free tax return Do not include the tax-free part of the lump-sum payment with other amounts recovered tax free (Worksheet A, line 6) when limiting your total exclusion to your total cost. File free tax return Example. File free tax return The facts are the same as in the example for David Brown in the preceding discussion. File free tax return In addition, David received 10 annuity payments in 2013 of $1,200 each. File free tax return Using Worksheet A, he figures the taxable part of his annuity payments. File free tax return He completes line 2 by reducing his $31,000 cost by the $6,200 tax-free part of his lump-sum payment. File free tax return His entry on line 2 is his $24,800 net cost in the plan (the amount from Worksheet B, line 5). File free tax return He does not include the tax-free part of his lump-sum payment on Worksheet A, line 6. File free tax return David's filled-in Worksheet A is shown on the next page. File free tax return Worksheet A. File free tax return Simplified Method for David Brown See the instructions in Part II of this publication under Simplified Method . File free tax return 1. File free tax return Enter the total pension or annuity payments received this year. File free tax return Also, add this amount to the total for Form 1040, line 16a; Form 1040A, line 12a; or Form 1040NR, line 17a 1. File free tax return $ 12,000 2. File free tax return Enter your cost in the plan at the annuity starting date, plus any death benefit exclusion*. File free tax return See Your cost in Part II, Rules for Retirees, earlier 2. File free tax return 24,800 Note: If your annuity starting date was before this year and you completed this worksheet last year, skip line 3 and enter the amount from line 4 of last year's worksheet on line 4 below (even if the amount of your pension or annuity has changed). File free tax return Otherwise, go to line 3. File free tax return   3. File free tax return Enter the appropriate number from Table 1 below. File free tax return But if your annuity starting date was after 1997 and the payments are for your life and that of your beneficiary, enter the appropriate number from Table 2 below. File free tax return 3. File free tax return 360 4. File free tax return Divide line 2 by the number on line 3 4. File free tax return 68. File free tax return 89 5. File free tax return Multiply line 4 by the number of months for which this year's payments were made. File free tax return If your annuity starting date was before 1987, enter this amount on line 8 below and skip lines 6, 7, 10, and 11. File free tax return Otherwise, go to line 6 5. File free tax return 688. File free tax return 90 6. File free tax return Enter any amounts previously recovered tax free in years after 1986. File free tax return This is the amount shown on line 10 of your worksheet for last year 6. File free tax return 0 7. File free tax return Subtract line 6 from line 2 7. File free tax return 24,800 8. File free tax return Enter the smaller of line 5 or line 7 8. File free tax return 688. File free tax return 90 9. File free tax return Taxable amount for year. File free tax return Subtract line 8 from line 1. File free tax return Enter the result, but not less than zero. File free tax return Also, add this amount to the total for Form 1040, line 16b, or Form 1040A, line 12b. File free tax return If you are a nonresident alien, also enter this amount on line 1 of Worksheet C. File free tax return If your Form CSA 1099R or Form CSF 1099R shows a larger amount, use the amount figured on this line instead. File free tax return If you are a retired public safety officer, see Distributions Used To Pay Insurance Premiums for Public Safety Officers in Part II before entering an amount on your tax return or Worksheet C, line 1 9. File free tax return $11,311. File free tax return 10 10. File free tax return Was your annuity starting date before 1987?   Yes. File free tax return Do not complete the rest of this worksheet. File free tax return    No. File free tax return Add lines 6 and 8. File free tax return This is the amount you have recovered tax free through 2013. File free tax return You will need this number if you need to fill out this worksheet next year 10. File free tax return 688. File free tax return 90 11. File free tax return Balance of cost to be recovered. File free tax return Subtract line 10 from line 2. File free tax return If zero, you will not have to complete this worksheet next year. File free tax return The payments you receive next year will generally be fully taxable 11. File free tax return $24,111. File free tax return 10 Table 1 for Line 3 Above    IF your age on your annuity starting date was   AND your annuity starting date was—     before November 19, 1996,  THEN enter on line 3 after November 18, 1996,  THEN enter on line 3   55 or under 300 360   56–60 260 310   61–65 240 260   66–70 170 210   71 or over 120 160  Table 2 for Line 3 Above    IF the annuitants' combined ages on your annuity starting date were   THEN enter on line 3         110 or under   410         111–120   360         121–130   310         131–140   260         141 or over   210       * A death benefit exclusion of up to $5,000 applied to certain benefits received by survivors of employees who died before August 21, 1996. File free tax return Reemployment after choosing the alternative annuity option. File free tax return If you chose this option when you retired and then you were reemployed by the Federal Government before retiring again, your Form CSA 1099R may show only the amount of your contributions to your retirement plan during your reemployment. File free tax return If the amount on the form does not include all your contributions, disregard it and use your total contributions to figure the taxable part of your annuity payments. File free tax return Annuity starting date before November 19, 1996. File free tax return   If your annuity starting date is before November 19, 1996, and you chose the alternative annuity option, the taxable and tax-free parts of your lump-sum payment and your annuity payments are figured using different rules. File free tax return Under those rules, you do not reduce your cost in the plan (Worksheet A, line 2) by the tax-free part of the lump-sum payment. File free tax return However, you must include that tax-free amount with other amounts previously recovered tax free (Worksheet A, line 6) when limiting your total exclusion to your total cost. File free tax return Federal Gift Tax If, through the exercise or nonexercise of an election or option, you provide an annuity for your beneficiary at or after your death, you have made a gift. File free tax return The gift may be taxable for gift tax purposes. File free tax return The value of the gift is equal to the value of the annuity. File free tax return Joint and survivor annuity. File free tax return   If the gift is an interest in a joint and survivor annuity where only you and your spouse can receive payments before the death of the last spouse to die, the gift generally will qualify for the unlimited marital deduction. File free tax return This will eliminate any gift tax liability with regard to that gift. File free tax return   If you provide survivor annuity benefits for someone other than your current spouse, such as your former spouse, the unlimited marital deduction will not apply. File free tax return This may result in a taxable gift. File free tax return More information. File free tax return   For information about the gift tax, see Publication 950, Introduction to Estate and Gift Taxes, and Form 709, United States Gift (and Generation-Skipping Transfer) Tax Return, and its instructions. File free tax return Retirement During the Past Year If you have recently retired, the following discussions covering annual leave, voluntary contributions, and community property may apply to you. File free tax return Annual leave. File free tax return   A payment for accrued annual leave received on retirement is a salary payment. File free tax return It is taxable as wages in the tax year you receive it. File free tax return Voluntary contributions. File free tax return   Voluntary contributions to the retirement fund are those made in addition to the regular contributions that were deducted from your salary. File free tax return They also include the regular contributions withheld from your salary after you have the years of service necessary for the maximum annuity allowed by law. File free tax return Voluntary contributions are not the same as employee contributions to the Thrift Savings Plan. File free tax return See Thrift Savings Plan , later. File free tax return Additional annuity benefit. File free tax return   If you choose to receive an additional annuity benefit from your voluntary contributions, it is treated separately from the annuity benefit that comes from the regular contributions deducted from your salary. File free tax return This separate treatment applies for figuring the amounts to be excluded from, and included in, gross income. File free tax return It does not matter that you receive only one monthly check covering both benefits. File free tax return Each year you will receive a Form CSA 1099R that will show how much of your total annuity received in the past year was from each type of benefit. File free tax return   Figure the taxable and tax-free parts of your additional monthly benefits from voluntary contributions using the rules that apply to regular CSRS and FERS annuities, as explained earlier. File free tax return Refund of voluntary contributions. File free tax return   If you choose to receive a refund of your voluntary contributions plus accrued interest, the interest is taxable to you in the tax year it is distributed unless you roll it over to a traditional IRA or another qualified retirement plan. File free tax return If you do not have OPM transfer the interest to a traditional IRA or other qualified retirement plan in a direct rollover, tax will be withheld at a 20% rate. File free tax return See Rollover Rules , later. File free tax return The interest does not qualify as a lump-sum distribution eligible for capital gain treatment or the 10-year tax option. File free tax return It also may be subject to an additional 10% tax on early distributions if you separate from service before the calendar year in which you reach age 55. File free tax return For more information, see Lump-Sum Distributions and Tax on Early Distributions in Publication 575. File free tax return Community property laws. File free tax return   State community property laws apply to your annuity. File free tax return These laws will affect your income tax only if you file a return separately from your spouse. File free tax return   Generally, the determination of whether your annuity is separate income (taxable to you) or community income (taxable to both you and your spouse) is based on your marital status and domicile when you were working. File free tax return Regardless of whether you are now living in a community property state or a noncommunity property state, your current annuity may be community income if it is based on services you performed while married and domiciled in a community property state. File free tax return   At any time, you have only one domicile even though you may have more than one home. File free tax return Your domicile is your fixed and permanent legal home that you intend to use for an indefinite or unlimited period, and to which, when absent, you intend to return. File free tax return The question of your domicile is mainly a matter of your intentions as indicated by your actions. File free tax return   If your annuity is a mixture of community income and separate income, you must divide it between the two kinds of income. File free tax return The division is based on your periods of service and domicile in community and noncommunity property states while you were married. File free tax return   For more information, see Publication 555, Community Property. File free tax return Reemployment After Retirement If you retired from federal service and are later rehired by the Federal Government as an employee, you can continue to receive your annuity during reemployment. File free tax return The employing agency usually will pay you the difference between your salary for your period of reemployment and your annuity. File free tax return This amount is taxable as wages. File free tax return Your annuity will continue to be taxed just as it was before. File free tax return If you are still recovering your cost, you continue to do so. File free tax return If you have recovered your cost, the annuity you receive while you are reemployed generally is fully taxable. File free tax return Nonresident Aliens The following special rules apply to nonresident alien federal employees performing services outside the United States and to nonresident alien retirees and beneficiaries. File free tax return A nonresident alien is an individual who is not a citizen or a resident alien of the United States. File free tax return Special rule for figuring your total contributions. File free tax return   Your contributions to the retirement plan (your cost) also include the government's contributions to the plan to a certain extent. File free tax return You include government contributions that would not have been taxable to you at the time they were contributed if they had been paid directly to you. File free tax return For example, government contributions would not have been taxable to you if, at the time made, your services were performed outside the United States. File free tax return Thus, your cost is increased by these government contributions and the benefits that you, or your beneficiary, must include in income are reduced. File free tax return   This method of figuring your total contributions does not apply to any contributions the government made on your behalf after you became a citizen or a resident alien of the United States. File free tax return Limit on taxable amount. File free tax return   There is a limit on the taxable amount of payments received from the CSRS, the FERS, or the TSP by a nonresident alien retiree or nonresident alien beneficiary. File free tax return Figure this limited taxable amount by multiplying the otherwise taxable amount by a fraction. File free tax return The numerator of the fraction is the retiree's total U. File free tax return S. File free tax return Government basic pay, other than tax-exempt pay for services performed outside the United States. File free tax return The denominator is the retiree's total U. File free tax return S. File free tax return Government basic pay for all services. File free tax return    Basic pay includes regular pay plus any standby differential. File free tax return It does not include bonuses, overtime pay, certain retroactive pay, uniform or other allowances, or lump-sum leave payments. File free tax return   To figure the limited taxable amount of your CSRS or FERS annuity or your TSP distributions, use Worksheet C. File free tax return (For an annuity, first complete Worksheet A in this publication. File free tax return ) Worksheet C. File free tax return Limited Taxable Amount for Nonresident Alien 1. File free tax return Enter the otherwise taxable amount of the CSRS or FERS annuity (from line 9 of Worksheet A or from Forms CSA 1099R or CSF 1099R) or TSP distributions (from Form 1099R) 1. File free tax return   2. File free tax return Enter the total U. File free tax return S. File free tax return Government basic pay other than tax-exempt pay for services performed outside the United States 2. File free tax return   3. File free tax return Enter the total U. File free tax return S. File free tax return Government basic pay for all services 3. File free tax return   4. File free tax return Divide line 2 by line 3 4. File free tax return   5. File free tax return Limited taxable amount. File free tax return Multiply line 1 by line 4. File free tax return Enter this amount on Form 1040NR, line 17b 5. File free tax return   Example 1. File free tax return You are a nonresident alien who performed all services for the U. File free tax return S. File free tax return Government abroad as a nonresident alien. File free tax return You retired and began to receive a monthly annuity of $200. File free tax return Your total basic pay for all services for the U. File free tax return S. File free tax return Government was $100,000. File free tax return All of your basic pay was tax exempt because it was not U. File free tax return S. File free tax return source income. File free tax return The taxable amount of your annuity using Worksheet A in this publication is $720. File free tax return You are a nonresident alien, so you figure the limited taxable amount of your annuity using Worksheet C as follows. File free tax return Worksheet C. File free tax return Limited Taxable Amount for Nonresident Alien — Example 1 1. File free tax return Enter the otherwise taxable amount of the CSRS or FERS annuity (from line 9 of Worksheet A or from Forms CSA 1099R or CSF 1099R) or TSP distributions (from Form 1099R) 1. File free tax return $ 720 2. File free tax return Enter the total U. File free tax return S. File free tax return Government basic pay other than tax-exempt pay for services performed outside the United States 2. File free tax return 0 3. File free tax return Enter the total U. File free tax return S. File free tax return Government basic pay for all services 3. File free tax return 100,000 4. File free tax return Divide line 2 by line 3 4. File free tax return 0 5. File free tax return Limited taxable amount. File free tax return Multiply line 1 by line 4. File free tax return Enter this amount on Form 1040NR, line 17b 5. File free tax return 0 Example 2. File free tax return You are a nonresident alien who performed services for the U. File free tax return S. File free tax return Government as a nonresident alien both within the United States and abroad. File free tax return You retired and began to receive a monthly annuity of $240. File free tax return Your total basic pay for your services for the U. File free tax return S. File free tax return Government was $120,000; $40,000 was for work done in the United States and $80,000 was for your work done in a foreign country. File free tax return The part of your total basic pay for your work done in a foreign country was tax exempt because it was not U. File free tax return S. File free tax return source income. File free tax return The taxable amount of your annuity figured using Worksheet A in this publication is $1,980. File free tax return You are a nonresident alien, so you figure the limited taxable amount of your annuity using Worksheet C as follows. File free tax return Worksheet C. File free tax return Limited Taxable Amount for Nonresident Alien — Example 2 1. File free tax return Enter the otherwise taxable amount of the CSRS or FERS annuity (from line 9 of Worksheet A or from Forms CSA 1099R or CSF 1099R) or TSP distributions (from Form 1099R) 1. File free tax return $ 1,980 2. File free tax return Enter the total U. File free tax return S. File free tax return Government basic pay other than tax-exempt pay for services performed outside the United States 2. File free tax return 40,000 3. File free tax return Enter the total U. File free tax return S. File free tax return Government basic pay for all services 3. File free tax return 120,000 4. File free tax return Divide line 2 by line 3 4. File free tax return . File free tax return 333 5. File free tax return Limited taxable amount. File free tax return Multiply line 1 by line 4. File free tax return Enter this amount on Form 1040NR, line 17b 5. File free tax return 659 Thrift Savings Plan Generally, all of the money in your TSP account is taxed as ordinary income when you receive it. File free tax return (However, see Roth TSP balance and Uniformed services TSP accounts, next. File free tax return ) This is because neither the contributions to your traditional TSP balance nor its earnings have been included previously in your taxable income. File free tax return The way that you withdraw your account balance determines when you must pay the tax. File free tax return Roth TSP balance. File free tax return   The TSP also offers a Roth TSP option, which allows you to make after-tax contributions into your TSP account. File free tax return This means Roth TSP contributions are included in your income. File free tax return The contribution limits are the same as the traditional TSP. File free tax return You can elect to have part or all of your TSP contributions designated as a Roth TSP. File free tax return Agency contributions will be part of your traditional TSP balance. File free tax return Also, you cannot roll over any portion of your traditional TSP into your Roth TSP. File free tax return   Qualified distributions from your Roth TSP are not included in income. File free tax return This applies to both your cost in the account and income earned on that account. File free tax return A qualified distribution is generally a distribution that is: Made after a 5-tax-year period of participation, and Made on or after the date you reach age 59½, made to a beneficiary or your estate on or after your death, or attributable to your being disabled. File free tax return   For more information, go to the TSP website, www. File free tax return tsp. File free tax return gov, or the TSP Service Office. File free tax return See Publication 575, Pension and Annuity Income, for more information about designated Roth accounts. File free tax return Uniformed services TSP accounts. File free tax return   If you have a uniformed services TSP account that includes contributions from combat zone pay, the distributions attributable to those contributions are tax exempt. File free tax return However, any earnings on those contributions to a traditional TSP balance are subject to tax when they are distributed. File free tax return See Roth TSP balance discussed previously to get more information about Roth contributions. File free tax return The statement you receive from the TSP will separately state the total amount of your distribution and the amount of your taxable distribution for the year. File free tax return You can get more information from the TSP website, www. File free tax return tsp. File free tax return gov, or the TSP Service Office. File free tax return Direct rollover by the TSP. File free tax return   If you ask the TSP to transfer any part of the money in your account, from traditional contributions and its earnings, to a traditional IRA or other qualified retirement plan, the tax on that part is deferred until you receive payments from the traditional IRA or other plan. File free tax return However, see the following Note for a discussion on direct rollovers by the TSP of Roth contributions and its earnings. File free tax return Also, see Rollover Rules , later. File free tax return Direct rollover by the TSP to a Roth IRA. File free tax return   If you ask the TSP to transfer any part of the money in your account, from traditional contributions and its earnings, to a Roth IRA, the amount transferred will be taxed in the current year. File free tax return However, see the following Note for a discussion on direct rollovers by the TSP of Roth contributions and its earnings. File free tax return Also, see Rollovers to Roth IRAs for more information, later. File free tax return Note. File free tax return A direct rollover of your Roth contributions and its earnings (if certain conditions are met, see Roth TSP balance , earlier) in your TSP account to a Roth 401(k), Roth 403(b), Roth 457(b), or Roth IRA are not subject to tax when they are transferred or when you receive payments from those accounts at a later date. File free tax return This is because you already paid tax on those contributions. File free tax return You cannot rollover Roth contributions and its earnings in your TSP account to a traditional IRA. File free tax return TSP annuity. File free tax return   If you ask the TSP to buy an annuity with the money in your account, from traditional contributions and its earnings, the annuity payments are taxed when you receive them. File free tax return The payments are not subject to the additional 10% tax on early distributions, even if you are under age 55 when they begin. File free tax return However, there is no tax on the annuity payments if the annuity is purchased using the money in your account from Roth contributions and its earnings if certain conditions are met. File free tax return See Roth TSP balance , earlier. File free tax return This is because you already paid tax on those contributions. File free tax return Cash withdrawals. File free tax return   If you withdraw any of the money in your TSP account, from traditional contributions and its earnings, it is generally taxed as ordinary income when you receive it unless you roll it over into a traditional IRA or other qualified plan. File free tax return (See Rollover Rules , later. File free tax return ) If you receive your entire TSP account balance in a single tax year, you may be able to use the 10-year tax option to figure your tax. File free tax return See Lump-Sum Distributions in Publication 575 for details. File free tax return However, there is no tax if you withdraw money in your TSP account from Roth contributions and its earnings if certain conditions are met. File free tax return See Roth TSP balance , earlier. File free tax return    To qualify for the 10-year tax option, the plan participant must have been born before January 2, 1936. File free tax return   If you receive a single payment or you choose to receive your account balance in monthly payments over a period of less than 10 years, the TSP generally must withhold 20% for federal income tax. File free tax return If you choose to receive your account balance in monthly payments over a period of 10 or more years or a period based on your life expectancy, the payments are subject to withholding as if you are married with three withholding allowances, unless you submit a withholding certificate. File free tax return See also Withholding from Thrift Savings Plan payments earlier under Tax Withholding and Estimated Tax in Part I. File free tax return However, there is no withholding requirement for amounts withdrawn from your TSP account that is from Roth contributions and its earnings, if certain conditions are met. File free tax return See Roth TSP balance , earlier, for a discussion of those conditions. File free tax return Tax on early distributions. File free tax return   Any money paid to you from your TSP account before you reach age 59½ may be subject to an additional 10% tax on early distributions. File free tax return However, this additional tax does not apply in certain situations, including any of the following. File free tax return You receive the distribution and separate from government service during or after the calendar year in which you reach age 55. File free tax return You choose to receive your account balance in monthly payments based on your life expectancy. File free tax return You are totally and permanently disabled. File free tax return You receive amounts from your Roth contributions since that represents a return of your cost (after-tax money). File free tax return The earnings may be subject to the 10% tax depending on whether you met certain conditions. File free tax return See Roth TSP balance , earlier. File free tax return   For more information, see Tax on Early Distributions in Publication 575. File free tax return Outstanding loan. File free tax return   If the TSP declares a distribution from your account because money you borrowed has not been repaid when you separate from government service, your account is reduced and the amount of the distribution (your unpaid loan balance and any unpaid interest), from traditional contributions and its earnings, is taxed in the year declared. File free tax return The distribution also may be subject to the additional 10% tax on early distributions. File free tax return However, the tax will be deferred if you make a rollover contribution to a traditional IRA or other qualified plan equal to the declared distribution amount. File free tax return See Rollover Rules , later. File free tax return   If you withdraw any money from your TSP account in that same year, the TSP must withhold income tax of 20% of the total of the declared distribution and the amount withdrawn. File free tax return However, no withholding is required for portions of the distribution that is from Roth contributions and its earnings, if certain conditions are met. File free tax return See Roth TSP balance , earlier. File free tax return More information. File free tax return   For more information about the TSP, see Summary of the Thrift Savings Plan, distributed to all federal employees. File free tax return Also, see Important Tax Information About Payments From Your TSP Account and Special Tax Withholding Rules for Thrift Savings Plan Payments to Nonresident Aliens, which are available from your agency personnel office or from the TSP by calling 1-TSP-YOU-FIRST (1-877-968-3778) and for participants who are deaf, hard of hearing, or have a speech disability, call 1-TSP-THRIFT5 (1-877-847-4385). File free tax return    The above documents are also available on the TSP website at www. File free tax return tsp. File free tax return gov. File free tax return Select “Forms & Publications. File free tax return ” Rollover Rules Generally, a rollover is a tax-free withdrawal of cash or other assets from one qualified retirement plan or traditional IRA and its reinvestment in another qualified retirement plan or traditional IRA. File free tax return You do not include the amount rolled over in your income, and you cannot take a deduction for it. File free tax return The amount rolled over is taxed later as the new program pays that amount to you. File free tax return If you roll over amounts into a traditional IRA, later distributions of these amounts from the traditional IRA do not qualify for the capital gain or the 10-year tax option. File free tax return However, capital gain treatment or the 10-year tax option will be restored if the traditional IRA contains only amounts rolled over from a qualified plan and these amounts are rolled over from the traditional IRA into a qualified retirement plan. File free tax return To qualify for the capital gain treatment or 10-year tax option, the plan participant must have been born before January 2, 1936. File free tax return You can also roll over a distribution from a qualified retirement plan into a Roth IRA. File free tax return Although the transfer of a distribution into a Roth IRA is considered a rollover for Roth IRA purposes, it is not a tax-free transfer unless you are rolling over amounts from Roth contributions and its earnings. File free tax return See Rollovers to Roth IRAs , later, for more information. File free tax return Qualified retirement plan. File free tax return   For this purpose, a qualified retirement plan generally is: A qualified employee plan, A qualified employee annuity, A tax-sheltered annuity plan (403(b) plan), or An eligible state or local government section 457 deferred compensation plan. File free tax return The CSRS, FERS, and TSP are considered qualified retirement plans. File free tax return Distributions eligible for rollover treatment. File free tax return   If you receive a refund of your CSRS or FERS contributions when you leave government service, you can roll over any interest you receive on the contributions. File free tax return You cannot roll over any part of your CSRS or FERS annuity payments. File free tax return   You can roll over a distribution of any part of your TSP account balance except: A distribution of your account balance that you choose to receive in monthly payments over: Your life expectancy, The joint life expectancies of you and your beneficiary, or A period of 10 years or more, A required minimum distribution generally beginning at age 70½, A declared distribution because of an unrepaid loan, if you have not separated from government service (see Outstanding loan under Thrift Savings Plan, earlier), or A hardship distribution. File free tax return   In addition, a distribution to your beneficiary generally is not treated as an eligible rollover distribution. File free tax return However, see Qualified domestic relations order (QDRO) and Rollovers by surviving spouse , and Rollovers by nonspouse beneficiary , later. File free tax return Direct rollover option. File free tax return   You can choose to have the OPM or TSP transfer any part of an eligible rollover distribution directly to another qualified retirement plan that accepts rollover distributions or to a traditional IRA or Roth IRA. File free tax return   There is an automatic rollover requirement for mandatory distributions. File free tax return A mandatory distribution is a distribution made without your consent and before you reach age 62 or normal retirement age, whichever is later. File free tax return The automatic rollover requirement applies if the distribution is more than $1,000 and is an eligible rollover distribution. File free tax return You can choose to have the distribution paid directly to you or rolled over directly to your traditional or Roth IRA or another qualified retirement plan. File free tax return If you do not make this choice, OPM will automatically roll over the distribution into an IRA of a designated trustee or issuer. File free tax return No tax withheld. File free tax return   If you choose the direct rollover option or have an automatic rollover, no tax will be withheld from any part of the distribution that is directly paid to the trustee of the other plan. File free tax return However, if the rollover is to a Roth IRA, you may want to choose to have tax withheld since any amount rolled over is generally included in income. File free tax return Any part of the eligible rollover distribution paid to you is subject to withholding at a 20% rate. File free tax return Direct roll over amounts from Roth contributions and its earnings do not have tax withheld because you already paid tax on those amounts. File free tax return Payment to you option. File free tax return   If an eligible rollover distribution is paid to you, the OPM or TSP must withhold 20% for income tax even if you plan to roll over the distribution to another qualified retirement plan, traditional or Roth IRA. File free tax return However, the full amount is treated as distributed to you even though you actually receive only 80%. File free tax return You generally must include in income any part (including the part withheld) that you do not roll over within 60 days to another qualified retirement plan or to a traditional IRA. File free tax return Rollovers to Roth IRAs are generally included in income. File free tax return Eligible rollover distributions that are from Roth contributions do not have tax withheld because you already paid tax on those amounts. File free tax return If you leave government service before the calendar year in which you reach age 55 and are under age 59½ when a distribution is paid to you, you may have to pay an additional 10% tax on any part, including any tax withheld, that you do not roll over. File free tax return However, distributions from Roth contributions will not be subject to the 10% additional tax because it is a return of your cost (after-tax money). File free tax return Earnings from those contributions may be subject to the 10% additional tax if certain conditions are not met. File free tax return See Roth TSP balance , earlier. File free tax return Also, see Tax on Early Distributions in Publication 575. File free tax return Exception to withholding. File free tax return   Withholding from an eligible rollover distribution paid to you is not required if the distributions for your tax year total less than $200. File free tax return Partial rollovers. File free tax return   A lump-sum distribution may qualify for capital gain treatment or the 10-year tax option if the plan participant was born before January 2, 1936. File free tax return See Lump-Sum Distributions in Publication 575. File free tax return However, if you roll over any part of the distribution, the part you keep does not qualify for this special tax treatment. File free tax return Rolling over more than amount received. File free tax return   If you want to roll over more of an eligible rollover distribution than the amount you received after income tax was withheld, you will have to add funds from some other source (such as your savings or borrowed amounts). File free tax return Example. File free tax return You left government service at age 53. File free tax return On February 1, 2013, you receive an eligible rollover distribution of $10,000 from you
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File free tax return 23. File free tax return   Gastos de Intereses Table of Contents Introduction Useful Items - You may want to see: Intereses Hipotecarios de ViviendaCantidad Deducible Puntos Primas de Seguro Hipotecario Formulario 1098, Estado de Cuenta de los Intereses Hipotecarios Intereses Procedentes de InversionesBienes de Inversión Asignación de Gastos de Intereses Límite sobre la Deducción Cantidades que No Puede DeducirIntereses Personales Asignación de Intereses Cómo Hacer la DeclaraciónMás de un prestatario. File free tax return Fondos procedentes de una hipoteca utilizados para negocios o inversiones. File free tax return Introduction Este capítulo trata sobre los intereses que usted puede deducir. File free tax return Los intereses son la cantidad que paga por usar dinero prestado. File free tax return Los siguientes son tipos de intereses que se pueden deducir como deducciones detalladas en el Anexo A (Formulario 1040), Itemized Deductions (Deducciones detalladas), en inglés: Los intereses hipotecarios de vivienda, incluidos ciertos puntos y primas de seguro hipotecario. File free tax return Intereses procedentes de inversiones. File free tax return Este capítulo explica estas deducciones. File free tax return Asimismo, explica dónde deducir otros tipos de intereses y enumera algunos tipos de intereses que no puede deducir. File free tax return Use la Tabla 23-1 para averiguar dónde obtener más información sobre varios tipos de intereses, incluidos los intereses de inversiones. File free tax return Useful Items - You may want to see: Publicación 936 Home Mortgage Interest Deduction (Deducción por intereses hipotecarios de vivienda), en inglés. File free tax return 550 Investment Income and Expenses (Ingresos y gastos de inversiones), en inglés. File free tax return Intereses Hipotecarios de Vivienda Por lo general, los intereses hipotecarios de vivienda son todos los intereses que paga sobre un préstamo garantizado por su vivienda (vivienda principal o segunda vivienda). File free tax return El préstamo puede ser una hipoteca para la compra de su vivienda, una segunda hipoteca, una línea de crédito o un préstamo sobre el valor neto de la vivienda. File free tax return Puede deducir los intereses hipotecarios de vivienda si se reúnen todas las siguientes condiciones: Presenta el Formulario 1040 y detalla deducciones en el Anexo A (Formulario 1040). File free tax return La hipoteca es una deuda garantizada sobre una vivienda calificada en la cual tiene participación como dueño de la misma. File free tax return (Por lo general, una hipoteca es una deuda garantizada si pone como garantía su vivienda para proteger los intereses del prestamista. File free tax return El término “vivienda calificada” quiere decir su vivienda principal o segunda vivienda. File free tax return Para más información, vea la Publicación 936, Home Mortgage Interest Deduction (Deducción por intereses hipotecarios de vivienda), en inglés). File free tax return  Tanto usted como el prestamista tienen que tener la intención de que se pague el préstamo. File free tax return Cantidad Deducible En la mayor parte de los casos, podrá deducir todos los intereses hipotecarios de vivienda. File free tax return Cuánto puede deducir depende de la fecha en que obtuvo la hipoteca, la cantidad de la hipoteca y cómo usted usa los fondos procedentes de la misma. File free tax return Intereses totalmente deducibles. File free tax return   Si todas sus hipotecas corresponden a una o más de las tres categorías siguientes en todo momento durante el año, puede deducir todos los intereses sobre dichas hipotecas. File free tax return (Si una hipoteca corresponde a más de una categoría, sume la deuda que corresponde a cada categoría a la otra deuda de la misma categoría). File free tax return   Las tres categorías son: Las hipotecas que obtuvo a más tardar el 13 de octubre de 1987 (denominadas deudas con refugio legal). File free tax return Las hipotecas que obtuvo después del 13 de octubre de 1987 para comprar, construir o mejorar su vivienda (denominadas deudas por adquisición de vivienda), pero únicamente si a lo largo del año 2013 dichas hipotecas, más toda deuda contraída el 13 de octubre de 1987 o antes, ascendieron a $1 millón o menos ($500,000 o menos si es casado que presenta la declaración por separado). File free tax return Las hipotecas que obtuvo después del 13 de octubre de 1987 que no fueran para comprar, construir o mejorar su vivienda (denominadas deudas sobre el valor neto de la vivienda), pero únicamente si a lo largo del año 2013 dichas hipotecas ascendieron a $100,000 o menos ($50,000 o menos si es casado que presenta la declaración por separado) y cuyo total no era mayor que el valor justo de mercado de su vivienda reducido por los puntos (1) y (2). File free tax return Los límites en dólares para la segunda y tercera categoría son aplicables a la suma de las hipotecas sobre su vivienda principal y segunda vivienda. File free tax return   Vea la Parte II de la Publicación 936, en inglés, para definiciones más amplias de la deuda con refugio legal, deuda por adquisición de vivienda y deuda sobre el valor neto de la vivienda. File free tax return   Puede usar la Figura 23-A para verificar si los intereses hipotecarios de vivienda son totalmente deducibles. File free tax return Figura 23-A. File free tax return ¿Son Totalmente Deducibles los Intereses Hipotecarios de mi Vivienda? Instrucciones: Incluya los saldos de TODAS las hipotecas garantizadas por su vivienda principal y segunda vivienda. File free tax return Please click here for the text description of the image. File free tax return Figura 23−A. File free tax return ¿Son Totalmente Deducibles los Intereses Hipotecarios de mi Vivienda? Límites sobre la deducción. File free tax return   No puede deducir totalmente los intereses de una hipoteca que no corresponda a alguna de las tres categorías indicadas anteriormente. File free tax return Si éste es su caso, vea la Parte II de la Publicación 936, en inglés, para calcular la cantidad de los intereses que puede deducir. File free tax return Situaciones Especiales Esta sección describe ciertos elementos que se pueden incluir como intereses hipotecarios de vivienda y otros que no. File free tax return Además, describe ciertas situaciones especiales que podrían afectar su deducción. File free tax return Recargos por pagos hipotecarios tardíos. File free tax return   Puede deducir como intereses hipotecarios de vivienda un recargo por pagos tardíos si no fue por un servicio específico que se prestó en relación a su préstamo hipotecario. File free tax return Multa por pago adelantado de la hipoteca. File free tax return   Si salda su hipoteca de vivienda por adelantado, podría verse obligado a pagar una multa. File free tax return Puede deducir dicha multa como intereses hipotecarios de vivienda con tal de que la multa no sea por un servicio específico que se prestó, o costo en el que se incurrió, con respecto a su préstamo hipotecario. File free tax return Venta de vivienda. File free tax return   Si vende su vivienda, puede deducir los intereses hipotecarios de vivienda (sujetos a los límites correspondientes) pagados hasta la fecha de venta, excluyendo tal fecha. File free tax return Ejemplo. File free tax return Juan y Margarita Gallegos vendieron su vivienda el 7 de mayo. File free tax return Hasta el 30 de abril, hicieron pagos de intereses hipotecarios de vivienda de $1,220. File free tax return El informe de cierre de la venta de la vivienda mostraba intereses de $50 para el período de 6 días en el mes de mayo hasta la fecha de venta, excluyendo tal fecha. File free tax return Su deducción por intereses hipotecarios es $1,270 ($1,220 + $50). File free tax return Intereses pagados por adelantado. File free tax return   Si paga intereses por adelantado para un período que va más allá del final del año tributario, tiene que pagar dichos intereses a plazos intercalados a lo largo de los años tributarios correspondientes. File free tax return Puede deducir en cada año únicamente los intereses que puedan considerarse intereses hipotecarios de vivienda para ese año. File free tax return No obstante, hay una excepción correspondiente a los puntos, tema que se aborda más adelante. File free tax return Crédito por intereses hipotecarios. File free tax return   Quizás pueda reclamar un crédito por intereses hipotecarios si un gobierno estatal o local le otorgó un certificado de crédito hipotecario (MCC, por sus siglas en inglés). File free tax return Calcule el crédito en el Formulario 8396, Mortgage Interest Credit (Crédito por intereses hipotecarios), en inglés. File free tax return Si toma este crédito, tiene que reducir la deducción de intereses hipotecarios por la cantidad del crédito. File free tax return   Para más información sobre el crédito, vea el capítulo 37 . File free tax return Subsidio de vivienda para ministros de la iglesia y personal militar. File free tax return   Si es ministro de una iglesia o miembro de las Fuerzas Armadas y recibe un subsidio de vivienda que no está sujeto a impuestos, aún puede deducir sus intereses hipotecarios de vivienda. File free tax return Hardest Hit Fund (Fondo de ayuda para propietarios de vivienda más afectados) y los programas de préstamos de emergencia para propietarios de viviendas. File free tax return   Puede utilizar un método especial para calcular la deducción de los intereses de la hipoteca y los impuestos de bienes inmuebles en su vivienda principal si reúne ambas de las siguientes condiciones: Usted recibió ayuda conforme a: Un programa del Hardest Hit Fund (Fondo de ayuda para los propietarios de vivienda más afectados que viven en estados con alto desempleo y una baja en el precio de viviendas) del State Housing Finance Agency (State HFA) (Agencia del Financiamiento de Viviendas (HFA estatal)) para los mercados inmobiliarios, en el cual los pagos procedentes de dichos programas pueden usarse para pagar los intereses hipotecarios o Un Emergency Homeowner's Loan Program (Programa de préstamos de emergencia para propietarios de viviendas), administrado por el Departamento de Vivienda y Desarrollo Urbano (HUD, por sus siglas en inglés) o por un estado. File free tax return Usted reúne las condiciones de los reglamentos para deducir todos los intereses hipotecarios del préstamo y todos los impuestos de bienes inmuebles de su vivienda principal. File free tax return   Si reúne todas las condiciones, entonces puede deducir todos los pagos que hizo durante el año al prestamista hipotecario, a la HFA estatal o a HUD, en la hipoteca de la vivienda (incluyendo el monto que muestra el recuadro 3 del Formulario 1098-MA, Mortgage Assistance Payments (Pagos de ayuda para la hipoteca), pero no más de la suma de las cantidades mostradas en el Formulario 1098, Mortgage Interest Statement (Estado de cuenta de los intereses hipotecarios), en el recuadro 1 (intereses recibidos del (de los) pagador(es)), el recuadro 4 (primas de seguro hipotecario) y el recuadro 5 (impuestos sobre los bienes inmuebles). File free tax return Sin embargo, a usted no se le requiere utilizar este método especial para calcular la deducción para los intereses de la hipoteca y los impuestos de los bienes inmuebles en su vivienda principal. File free tax return Pagos de asistencia hipotecaria conforme a la sección 235 de la Ley de Vivienda Nacional. File free tax return   Si reúne los requisitos para recibir pagos de asistencia hipotecaria para familias de bajos recursos conforme a la sección 235 de la Ley de Vivienda Nacional (National Housing Act), la totalidad o parte de los intereses sobre su hipoteca podrían ser pagados en nombre suyo. File free tax return No puede deducir los intereses pagados en nombre suyo. File free tax return No tiene otro efecto sobre los impuestos. File free tax return   No incluya estos pagos de asistencia hipotecaria en sus ingresos. File free tax return Además, no use estos pagos para reducir otras deducciones, tales como los impuestos sobre bienes raíces. File free tax return Personas divorciadas o separadas. File free tax return   Si un acuerdo de divorcio o un acuerdo de separación matrimonial exige que usted o su cónyuge o ex cónyuge pague intereses hipotecarios de vivienda de la cual ambos son dueños, el pago de intereses podría considerarse pensión para el cónyuge divorciado. File free tax return Vea el tema Pagos por una vivienda comprada conjuntamente , en el capítulo 18. File free tax return Alquiler de terreno rescatable. File free tax return   Si hace pagos de alquiler anuales o periódicos sobre un alquiler de terreno rescatable, los puede deducir como intereses hipotecarios. File free tax return   Los pagos hechos para terminar el contrato de arrendamiento y para comprar la parte completa del arrendador de la tierra no se pueden deducir como intereses hipotecarios. File free tax return Para más información, vea la Publicación 936, en inglés. File free tax return Alquileres de terreno no rescatables. File free tax return   Los pagos hechos sobre un alquiler de terreno no rescatable no son intereses hipotecarios. File free tax return Los puede deducir como alquiler si son un gasto comercial o si corresponden a propiedad de alquiler. File free tax return Hipotecas inversas. File free tax return   Una hipoteca inversa es un préstamo cuyas condiciones permiten al prestamista pagarle (ya sea en suma global, con pago mensual por adelantado, línea de crédito o una combinación de estos tres métodos) mientras usted sigue como residente en su vivienda. File free tax return Una hipoteca inversa le da derecho a mantener la escritura de su vivienda. File free tax return Según el plan que tenga, la hipoteca inversa vence y comienza a generar intereses cuando se mude, venda su vivienda, llegue al término del plazo de un préstamo preseleccionado o fallezca. File free tax return Puesto que las hipotecas inversas se consideran anticipos de préstamo y no ingresos, el monto que reciba no está sujeto a impuestos. File free tax return Los intereses devengados (incluyendo un descuento de los intereses originales) sobre una hipoteca inversa no se pueden deducir hasta que se reembolse la totalidad del préstamo. File free tax return La deducción a la que tenga derecho podría estar limitada ya que un préstamo de hipoteca inversa suele estar sujeto al límite sobre la Home Equity Debt (Deuda sobre el valor neto de la vivienda), tema que se explica en la Publicación 936, en inglés. File free tax return Pagos de alquiler. File free tax return   Si vive en una casa antes del cierre final de la compra, todos los pagos que haga para ese período son alquiler y no son intereses. File free tax return Esto es cierto aun si se denominan intereses en los documentos relacionados con el cierre. File free tax return No puede deducir esos pagos como intereses hipotecarios de vivienda. File free tax return Fondos procedentes de una hipoteca invertidos en valores exentos de impuestos. File free tax return   No puede deducir los intereses hipotecarios de vivienda sobre la deuda con refugio legal o deuda sobre el valor neto de la vivienda si utilizó los fondos procedentes de la hipoteca para comprar valores o certificados que generan ingresos exentos de impuestos. File free tax return La “deuda con refugio legal” y la “deuda sobre el valor neto de la vivienda” se definen anteriormente bajo Cantidad Deducible. File free tax return Reembolsos de intereses. File free tax return   Si recibe un reembolso de intereses en el mismo año tributario en que los pagó, tiene que reducir su gasto de intereses por la cantidad que se le reembolse. File free tax return Si recibe un reembolso de intereses que dedujo en un año anterior, por regla general tiene que incluirlo en sus ingresos en el año en que lo reciba. File free tax return No obstante, necesita incluirlo sólo hasta la cantidad de la deducción que redujo su impuesto el año anterior. File free tax return Esto es cierto independientemente de si los intereses cobrados en exceso le fueron reembolsados o se usaron para reducir el principal pendiente de su hipoteca. File free tax return    Si recibe un reembolso de intereses que pagó en exceso en un año anterior, generalmente recibirá el Formulario 1098, Mortgage Interest Statement (Estado de cuenta de los intereses hipotecarios), en inglés, que muestra el reembolso en el recuadro 3. File free tax return Para más información sobre el Formulario 1098, vea Formulario 1098, Estado de Cuenta de los Intereses Hipotecarios , más adelante. File free tax return   Para más información sobre cómo tratar los reembolsos de intereses deducidos en años anteriores, vea Recuperación de Fondos , en el capítulo 12. File free tax return Puntos El término “puntos” se usa para describir ciertos cargos pagados, o tratados como pagados, por un prestatario para obtener una hipoteca de vivienda. File free tax return Los puntos también se pueden llamar costos originarios de un préstamo, cargos máximos de un préstamo, descuento del préstamo o puntos de descuento. File free tax return A un prestatario se le trata como si pagara todos los puntos que paga un vendedor de vivienda por la hipoteca del prestatario. File free tax return Vea Puntos pagados por el vendedor , más adelante. File free tax return Regla General Por lo general, no se puede deducir la cantidad completa de puntos en el año en que se pagaron. File free tax return Debido a que son intereses pagados por adelantado, generalmente se deducen proporcionalmente a lo largo de la vigencia (duración) de la hipoteca. File free tax return Vea Deducción Permitida Proporcionalmente , que se presenta a continuación. File free tax return Para excepciones a la regla general, vea Deducción Permitida en el Año del Pago , más adelante. File free tax return Deducción Permitida Proporcionalmente Si no reúne las condiciones mencionadas a continuación bajo Deducción Permitida en el Año del Pago , el préstamo no es considerado un préstamo para mejoras de viviendas, o si escoge no deducir la totalidad de sus puntos en el año en que los pagó, puede deducir los puntos proporcionalmente (igualmente) a lo largo de la vida del préstamo si reúne todas las condiciones siguientes: Utiliza el método contable a base de efectivo. File free tax return Esto significa que declara sus ingresos en el año en que los reciba y deduce sus gastos en el año en que los paga. File free tax return La mayoría de las personas usan este método. File free tax return Su préstamo está garantizado por una vivienda. File free tax return (La vivienda no necesita ser su vivienda principal). File free tax return El plazo del préstamo no es más de 30 años. File free tax return Si el plazo del préstamo es más de 10 años, las condiciones de su préstamo son las mismas que las de otros préstamos ofrecidos en su área para el mismo plazo o un plazo más largo. File free tax return El monto de su préstamo es de $250,000 o menos o el número de puntos no sobrepasa: 4, si el plazo del préstamo es 15 años o menos o 6, si el plazo del préstamo es más de 15 años. File free tax return Deducción Permitida en el Año del Pago Puede deducir la totalidad de los puntos en el año en que se pagaron si cumple todas las condiciones siguientes. File free tax return (Puede usar la Figura 23-B como guía rápida de referencia para averiguar si sus puntos son totalmente deducibles en el año del pago). File free tax return Su préstamo está garantizado por su vivienda principal. File free tax return (Su vivienda principal es aquélla donde usted reside la mayor parte del tiempo). File free tax return Pagar puntos es una práctica comercial establecida en el área donde se efectuó el préstamo. File free tax return Los puntos pagados no eran mayores que los puntos que se suelen cobrar en esa área. File free tax return Utiliza el método contable a base de efectivo. File free tax return Esto significa que declara sus ingresos en el año en que los reciba y deduce sus gastos en el año en que los paga. File free tax return (Si desea más información acerca de este método, vea Métodos Contables en el capítulo 1). File free tax return Los puntos no se pagaron en lugar de cantidades que suelen declarase por separado en el informe de cierre, tales como cargos por tasación, cargos por inspección, honorarios correspondientes al título de la propiedad, honorarios de abogado e impuestos sobre la propiedad. File free tax return Los fondos que usted proveyó antes del cierre, o en el momento del mismo, más los puntos pagados por el vendedor, eran por lo menos iguales a los puntos que se cobraron. File free tax return No se requiere que los fondos que proveyó hayan sido aplicados a los puntos. File free tax return Pueden incluir un pago inicial o de enganche, un depósito en plica, un depósito de buena fe y otros fondos que usted pagó en el momento, o antes, del cierre por cualquier razón. File free tax return No puede haber tomado prestados dichos fondos de su prestamista o agente hipotecario. File free tax return Usa el préstamo para comprar o construir su vivienda principal. File free tax return Los puntos se calcularon como un porcentaje del principal de la hipoteca. File free tax return La cantidad aparece indicada claramente en el informe de cierre (tal como el Settlement Statement, Form HUD-1 (Informe de Cierre, Formulario HUD-1, del Departamento de Vivienda y Desarrollo Urbano)) como puntos cobrados por la hipoteca. File free tax return Los puntos pueden aparecer indicados como puntos pagados con fondos suyos o del vendedor. File free tax return Figura 23-B. File free tax return ¿Son los Puntos Totalmente Deducibles este Año? Please click here for the text description of the image. File free tax return Figura 23-B. File free tax return ¿Son Los Puntos Totalmente Deducibles Este Año? Nota: Si reúne todas estas condiciones, puede optar por deducir la totalidad de los puntos en el año en que los pagó o deducirlos a lo largo de la vigencia del préstamo. File free tax return Préstamo para mejoras de vivienda. File free tax return   También puede deducir, en el año en que fueron pagados, la totalidad de los puntos pagados sobre un préstamo para mejorar su vivienda principal, si se cumplen las condiciones (1) a (6). File free tax return Segunda vivienda. File free tax return No puede deducir la totalidad de los puntos que pague sobre préstamos garantizados por su segunda vivienda en el año en el que los pagó. File free tax return Puede deducir esos puntos únicamente a lo largo de la vida del préstamo. File free tax return Refinanciamiento. File free tax return   Por regla general, los puntos que pague para refinanciar una hipoteca no son deducibles en su totalidad el año en que los pague. File free tax return Esto es cierto aunque la nueva hipoteca esté garantizada por su vivienda principal. File free tax return   Sin embargo, si usa parte de los fondos procedentes de la hipoteca refinanciada para mejorar su vivienda principal y cumple las primeras 6 condiciones que aparecen bajo Deducción Permitida en el Año del Pago , anteriormente, puede deducir toda la parte de los puntos relacionada con la mejora en el año en que los pagó con sus propios fondos. File free tax return Puede deducir el resto de los puntos a lo largo de la vida del préstamo. File free tax return Ejemplo 1. File free tax return En 1998, Guillermo Campos obtuvo una hipoteca para comprar una vivienda. File free tax return En el año 2013, Guillermo refinanció dicha hipoteca con un préstamo hipotecario de $100,000 a 15 años. File free tax return La hipoteca está garantizada por su vivienda. File free tax return Para obtener el nuevo préstamo, tuvo que pagar tres puntos ($3,000). File free tax return Dos puntos ($2,000) eran por intereses pagados por adelantado y un punto ($1,000) por servicios, en lugar de cantidades que generalmente se declaran por separado en el informe de cierre. File free tax return Guillermo pagó los puntos con sus fondos personales en vez de pagarlos con los fondos procedentes del nuevo préstamo. File free tax return El pago de los puntos es una práctica comercial establecida en esa área y los puntos que se cobraron no son mayores que la cantidad que se suele cobrar en dicha área. File free tax return El plazo para el primer pago de Guillermo sobre el nuevo préstamo venció el 1 de julio. File free tax return Hizo seis pagos sobre el préstamo en el año 2013 y es un contribuyente que sigue el método contable a base de efectivo. File free tax return Guillermo usó los fondos procedentes de la nueva hipoteca para amortizar su hipoteca actual. File free tax return Aunque el nuevo préstamo hipotecario era para que Guillermo siguiera siendo el dueño de su vivienda principal, dicho préstamo no era para la compra o mejora de aquella vivienda. File free tax return No puede deducir todos los puntos en el año 2013. File free tax return Puede deducir dos puntos ($2,000) proporcionalmente a lo largo de la vida del préstamo. File free tax return Deduce $67 [($2,000 ÷ 180 meses) × 6 pagos] de los puntos en el año 2013. File free tax return El otro punto ($1,000) era un cargo por servicios y no se puede deducir. File free tax return Ejemplo 2. File free tax return Los hechos son iguales a los del Ejemplo 1, excepto que Guillermo usó $25,000 de los fondos procedentes del préstamo para mejorar su vivienda y $75,000 para amortizar su hipoteca actual. File free tax return Guillermo deduce el 25% ($25,000 ÷ $100,000) de los puntos ($2,000) en el año 2013. File free tax return Su deducción es de $500 ($2,000 × 25%). File free tax return Además, Guillermo deduce la parte proporcionada de los $1,500 sobrantes ($2,000 − $500) que se tiene que pagar a plazos intercalados a lo largo de la vida del préstamo. File free tax return Esto es $50 [($1,500 ÷ 180 meses) × 6 pagos] en el año 2013. File free tax return La cantidad total que Guillermo deduce en el año 2013 es $550 ($500 + $50). File free tax return Situaciones Especiales Esta sección describe ciertas situaciones especiales que podrían afectar su deducción de puntos. File free tax return Descuento de la emisión original. File free tax return   Si no reúne los requisitos para deducir los puntos en el año en que los pagó o deducirlos proporcionalmente a lo largo de la vida del préstamo, o si escoge no utilizar ninguno de estos métodos, los puntos reducen el precio de emisión del préstamo. File free tax return Esta reducción resulta en un descuento de la emisión original, el cual se explica en el capítulo 4 de la Publicación 535, Business Expenses (Gastos de negocios), en inglés. File free tax return Cantidades cobradas por servicios. File free tax return   Las cantidades cobradas por el prestamista por servicios específicos relacionados con el préstamo no son intereses. File free tax return Ejemplos de estos cargos son: Cargos de tasación, Cargos por servicios de notario y Costos de preparación del pagaré hipotecario o escritura de título. File free tax return No puede deducir estas cantidades como puntos ni en el año en que las pagó ni a lo largo de la vigencia de la hipoteca. File free tax return Puntos pagados por el vendedor. File free tax return   El término “puntos” incluye cargos por colocación del préstamo que el vendedor le paga al prestamista para proporcionar financiamiento para el comprador. File free tax return En el caso del vendedor. File free tax return   El vendedor no puede deducir estos cargos como intereses. File free tax return Pero sí son un gasto de venta que reduce la cantidad obtenida por el mismo. File free tax return Vea el capítulo 15 para información sobre la venta de su vivienda. File free tax return En el caso del comprador. File free tax return    El comprador reduce la base de la vivienda por la cantidad de los puntos pagados por el vendedor y trata los puntos como si él o ella los hubiera pagado. File free tax return Si se cumplen todas las condiciones anteriores bajo Deducción Permitida en el Año del Pago , el comprador puede deducir los puntos en el año en que los pagó. File free tax return Si no se reúne alguna de esas condiciones, el comprador deduce los puntos a lo largo de la vida del préstamo. File free tax return   Para más información sobre la base, vea el capítulo 13 . File free tax return Si los fondos provistos son menores que los puntos. File free tax return   Si reúne todas las condiciones de la sección anterior Deducción Permitida en el Año del Pago , excepto que los fondos que proveyó eran menores que los puntos que le fueron cobrados (condición (6)), puede deducir los puntos en el año en que los pagó, hasta la cantidad de fondos que proveyó. File free tax return Además, puede deducir todo punto pagado por el vendedor. File free tax return Ejemplo 1. File free tax return Cuando sacó un préstamo hipotecario de $100,000 para comprar su vivienda en diciembre, le cobraron un punto ($1,000). File free tax return Usted reúne todas las condiciones para deducir puntos en el año en que los pagó, excepto que los únicos fondos que proveyó eran los de un pago inicial o enganche de $750. File free tax return De los $1,000 cobrados por puntos, puede deducir $750 en el año en que los pagó. File free tax return Puede deducir los $250 sobrantes a lo largo de la vigencia de la hipoteca. File free tax return Ejemplo 2. File free tax return Los hechos son iguales a los del Ejemplo 1, excepto que la persona que le vendió su vivienda también pagó un punto ($1,000) para ayudarlo a obtener su hipoteca. File free tax return En el año del pago, usted puede deducir $1,750 ($750 de la cantidad que le cobraron a usted más los $1,000 pagados por el vendedor). File free tax return Puede deducir los $250 sobrantes a lo largo de la vigencia de la hipoteca. File free tax return Tiene que restar de la base de su vivienda los $1,000 pagados por el vendedor. File free tax return Puntos en exceso. File free tax return   Si reúne todas las condiciones de la sección anterior, Deducción Permitida en el Año del Pago , salvo que los puntos pagados eran mayores que los que generalmente se pagan en su área (condición (3)), en el año del pago deduce sólo los puntos que se suelen cobrar. File free tax return Tiene que deducir los puntos adicionales a lo largo de la vigencia de la hipoteca. File free tax return Hipoteca que termina antes del plazo de vigencia convenido. File free tax return   Si distribuye la deducción de los puntos a lo largo de la vigencia de la hipoteca, puede deducir todo saldo restante en el año en que vence la hipoteca. File free tax return Sin embargo, si la refinancia con el mismo prestamista, no puede deducir ningún saldo restante de los puntos distribuidos a lo largo de la vigencia de dicha hipoteca. File free tax return En vez de ello, deduzca el saldo restante a lo largo de la vigencia del nuevo préstamo. File free tax return    Una hipoteca podría vencer antes de lo programado debido al pago por adelantado, refinanciamiento, ejecución de hipoteca o acontecimiento parecido. File free tax return Ejemplo. File free tax return Daniel pagó $3,000 en puntos en 2002 que tuvo que deducir distribuidos a lo largo de la vigiencia de su hipoteca de 15 años. File free tax return Deduce $200 en puntos por año. File free tax return Ha deducido $2,200 de estos puntos hasta el año 2012, inclusive. File free tax return Daniel pagó por adelantado la totalidad de su hipoteca en el año 2013. File free tax return Puede deducir los $800 de puntos restantes en el año 2013. File free tax return Límites sobre la deducción. File free tax return   No puede deducir la totalidad de los puntos sobre una hipoteca a menos que la misma corresponda a una de las categorías enumeradas anteriormente bajo Intereses totalmente deducibles . File free tax return Vea la Publicación 936, en inglés, para más información. File free tax return Primas de Seguro Hipotecario Las primas pagadas por un seguro hipotecario calificado durante el año 2013 se pueden deducir como intereses hipotecarios de vivienda. File free tax return Dicho seguro tiene que estar relacionado con una deuda por adquisición de vivienda; el contrato de seguro tiene que haberse emitido después del año 2006. File free tax return Seguro hipotecario calificado. File free tax return   El seguro hipotecario calificado incluye seguros hipotecarios facilitados por el Departamento de Asuntos de los Veteranos, la Administración Federal de Vivienda o el Servicio de la Vivienda Rural y seguros hipotecarios privados (como se define en la sección 2 de la Homeowners Protection Act (Ley de Protección del Propietario de Vivienda) de 1998, según vigencia del 20 de diciembre de 2006). File free tax return   El seguro hipotecario provisto por el Departamento de Asuntos de los Veteranos se conoce comúnmente como cargo de financiamiento (funding fee). File free tax return Si es provisto por el Servicio de la Vivienda Rural, entonces se conoce como cargo de garantía (guarantee fee). File free tax return Si el contrato de seguro hipotecario entró en vigencia en el año 2013, dichas comisiones se pueden deducir en su totalidad en ese mismo año. File free tax return Póngase en contacto con el emisor del seguro hipotecario para calcular el monto deducible, si éste no se ha declarado en el recuadro 4 del Formulario 1098. File free tax return Reglas especiales para pagos adelantados de seguro hipotecario. File free tax return   Normalmente, si pagó primas de un seguro hipotecario calificado que se puedan asignar a algún período después del cierre del año tributario, se considera que dichas primas se han pagado en el período al que se asignan. File free tax return Tiene que asignar las primas a lo largo del plazo de vigencia establecido por la hipoteca u 84 meses, lo que sea más corto, a partir del mes en el que se obtuvo el seguro. File free tax return No se permite deducción alguna por el saldo no amortizado si se paga la hipoteca antes del plazo de vigencia convenido. File free tax return Este párrafo no corresponde en el caso de un seguro hipotecario calificado que le haya facilitado el Departamento de Asuntos de los Veteranos o el Servicio de la Vivienda Rural. File free tax return Vea el Ejemplo que se presenta a continuación. File free tax return Ejemplo. File free tax return Ronaldo compró una vivienda en mayo de 2012 y la financió por medio de una hipoteca de 15 años. File free tax return Además, Ronaldo pagó por adelantado la totalidad de los $9,240 en seguros hipotecarios privados que estuvo obligado a pagar en el momento del cierre, en el mes de mayo. File free tax return Ya que los $9,240 en seguros hipotecarios privados se pueden asignar a períodos posteriores a 2012, Ronaldo tiene que asignar los $9,240 a lo largo del plazo de vigencia establecido por la hipoteca u 84 meses, lo que sea más corto. File free tax return Los ingresos brutos ajustados de Ronaldo son $76,000 para 2012. File free tax return Ronaldo puede deducir $880 ($9,240 ÷ 84 x 8 meses) por primas de un seguro hipotecario calificado en 2012. File free tax return Para 2013, Ronaldo puede deducir $1,320 ($9,240 ÷ 84 x 12 meses) si sus ingresos brutos ajustados son $100,000 o menos. File free tax return En este ejemplo, las primas de seguro hipotecario son asignadas a lo largo de 84 meses, lo cual es más corto que el plazo de vigencia de 15 años (180 meses) establecido por la hipoteca. File free tax return Límite sobre la deducción. File free tax return   Si su ingreso bruto ajustado en la línea 38 del Formulario 1040 es más de $100,000 ($50,000, si es casado que presenta la declaración por separado), se reduce, e incluso podría eliminarse, la cantidad de las primas del seguro hipotecario que de otro modo serían deducibles. File free tax return Para calcular la cantidad que puede deducir, vea Line 13 (Línea 13) en las Instrucciones del Anexo A (Formulario 1040) y complete la Mortgage Insurance Premiums Deduction Worksheet (Hoja de trabajo para la deducción de primas de seguro hipotecario). File free tax return Si su ingreso bruto ajustado es más de $109,000 ($54,500, si es casado que presenta la declaración por separado) no puede deducir las primas de un seguro hipotecario. File free tax return Formulario 1098, Estado de Cuenta de los Intereses Hipotecarios Si usted pagó $600 o más en intereses hipotecarios (incluidos ciertos puntos y primas de seguro hipotecario) durante el año sobre una hipoteca, generalmente recibirá un Formulario 1098, o estado de cuenta parecido, del titular de la hipoteca. File free tax return Recibirá el estado de cuenta si le paga intereses a una persona (incluyendo una institución financiera o una sociedad anónima cooperativa de viviendas) en el transcurso de la ocupación o negocio de aquella persona. File free tax return Una unidad del gobierno se considera una persona para fines de facilitar el estado de cuenta. File free tax return El estado de cuenta para cada año debería serle enviado a usted a más tardar el 31 de enero del año siguiente. File free tax return Una copia de este formulario también le será enviada al IRS. File free tax return En el estado de cuenta aparecerá el total de los intereses que usted pagó durante el año, todas las primas de seguro hipotecario que pagó y, si compró una vivienda principal durante el año, también aparecerán en el estado de cuenta los puntos deducibles pagados durante el año, incluidos puntos pagados por el vendedor. File free tax return Sin embargo, el estado de cuenta no debería mostrar ningún interés que una dependencia del gobierno haya pagado en nombre suyo. File free tax return Por regla general, el Formulario 1098 incluirá sólo los puntos que usted puede deducir totalmente en el año en que los pagó. File free tax return Sin embargo, ciertos puntos no incluidos en el Formulario 1098 también podrían ser deducibles en el año en que los pagó o a lo largo de la vigencia del préstamo. File free tax return Vea la sección anterior Puntos , para determinar si puede deducir puntos que no aparecen en el Formulario 1098. File free tax return Intereses pagados por adelantado en el Formulario 1098. File free tax return   Si pagó intereses por adelantado en el año 2013 devengados en su totalidad para el 15 de enero de 2014, estos intereses pagados por adelantado podrían ser incluidos en el recuadro 1 del Formulario 1098. File free tax return No obstante, no puede deducir la cantidad pagada por adelantado para enero del año 2014 en el año 2013. File free tax return (Vea Intereses pagados por adelantado , anteriormente). File free tax return Tendrá que calcular los intereses devengados en el año 2014 y restarlos de la cantidad del recuadro 1. File free tax return Incluirá los intereses para enero del año 2014 con los demás intereses que pague para el año 2014. File free tax return Vea Cómo Hacer la Declaración , más adelante. File free tax return Intereses reembolsados. File free tax return   Si recibió un reembolso de intereses hipotecarios que pagó en exceso en un año anterior, por lo general, recibirá un Formulario 1098 que muestre el reembolso en el recuadro 3. File free tax return Vea Reembolsos de intereses , anteriormente. File free tax return Primas de seguro hipotecario. File free tax return   La cantidad de primas de seguro hipotecario que pagó en el año 2013 podría aparecer en el recuadro 4 del Formulario 1098. File free tax return Vea Primas de Seguro Hipotecario , anteriormente. File free tax return Intereses Procedentes de Inversiones Esta sección trata sobre los gastos de intereses que quizás podría deducir como inversionista. File free tax return Si saca un préstamo para comprar propiedad que tiene con fines de inversión, los intereses que pague son intereses de inversión. File free tax return Puede deducir intereses de inversión conforme al límite explicado más adelante. File free tax return Sin embargo, no puede deducir intereses en los que incurrió para generar ingresos exentos de impuestos. File free tax return Tampoco puede deducir gastos de intereses sobre una doble opción simultánea de compra y venta. File free tax return Los intereses de inversión no incluyen intereses hipotecarios sobre una vivienda calificada. File free tax return Tampoco incluyen intereses que se hayan tenido en cuenta al calcular ingresos o pérdidas provenientes de una actividad pasiva. File free tax return Bienes de Inversión Los bienes que se tienen para fines de inversión incluyen bienes que producen intereses, dividendos, anualidades o regalías no generados en el curso normal de las operaciones de una ocupación o negocio. File free tax return Además, incluyen bienes que producen ganancias o pérdidas (no generadas en el curso normal de las operaciones de una ocupación o negocio) provenientes de la venta o intercambio comercial de bienes que producen este tipo de ingresos o que se tienen para fines de inversión (a excepción de intereses en una actividad pasiva). File free tax return Los bienes de inversión también incluyen la participación en una actividad relacionada con su ocupación o negocio en la que usted no participó materialmente (a excepción de una actividad pasiva). File free tax return Socios, accionistas y beneficiarios. File free tax return   Para determinar sus intereses de inversión, sume su participación en los intereses de inversión de una sociedad colectiva, sociedad anónima de tipo S, caudal hereditario o fideicomiso más sus demás intereses de inversión. File free tax return Asignación de Gastos de Intereses Si saca un préstamo para fines comerciales o personales además de fines de inversión, tiene que asignar la deuda entre estos fines. File free tax return Sólo el gasto de intereses de la parte de la deuda que se usa para fines de inversión se considera intereses de inversión. File free tax return La asignación no se ve afectada por el uso de bienes que garantizan la deuda. File free tax return Límite sobre la Deducción Por regla general, la deducción por gastos de intereses de inversión se limita a la cantidad del ingreso neto de inversiones. File free tax return Puede trasladar al año tributario siguiente la cantidad de intereses de inversión que no pudo deducir debido a este límite. File free tax return Los intereses trasladados se consideran intereses de inversión pagados o acumulados en ese año siguiente. File free tax return Puede trasladar al año tributario siguiente intereses de inversión denegados aun si son mayores que su ingreso tributable en el año en que los intereses se pagaron o se acumularon. File free tax return Ingresos Netos de Inversiones Determine la cantidad de sus ingresos netos de inversiones restando sus gastos de inversión (a excepción de los gastos de intereses) de sus ingresos de inversiones. File free tax return Ingresos procedentes de inversiones. File free tax return    Por regla general, esto incluye su ingreso bruto proveniente de bienes que se tengan con fines de inversión (tales como intereses, dividendos, anualidades y regalías). File free tax return El ingreso de inversiones no incluye dividendos del Alaska Permanent Fund (Fondo Permanente de Alaska). File free tax return Tampoco incluye dividendos calificados o ganancias de capital netas a no ser que usted escoja incluirlos. File free tax return Si escoge incluir dividendos calificados. File free tax return   Los ingresos de inversiones normalmente no incluyen dividendos calificados, explicados en el capítulo 8. File free tax return No obstante, puede escoger incluir la totalidad o parte de sus dividendos calificados en los ingresos de inversiones. File free tax return   Esta opción se hace llenando la línea 4g del Formulario 4952, en inglés, según las instrucciones del mismo. File free tax return   Si escoge incluir alguna cantidad de sus dividendos calificados en los ingresos de inversiones, tendrá que restar esa misma cantidad de los dividendos calificados con derecho a las tasas tributarias más bajas aplicadas a ganancias de capital. File free tax return Si escoge incluir ganancias netas de capital. File free tax return   Por regla general, los ingresos de inversiones no incluyen ganancias netas de capital provenientes de la enajenación de bienes de inversión (incluidas distribuciones de ganancias de capital provenientes de fondos mutuos). File free tax return No obstante, puede escoger incluir la totalidad o parte de sus ganancias netas de capital en los ingresos de inversiones. File free tax return    Esta opción se hace llenando la línea 4g del Formulario 4952, en inglés, según las instrucciones del mismo. File free tax return   Si escoge incluir alguna cantidad de sus ganancias netas de capital en los ingresos de inversiones, tiene que restar esa misma cantidad de las ganancias netas de capital con derecho a las tasas tributarias más bajas aplicadas a ganancias de capital. File free tax return    Antes de escoger entre las dos opciones, tenga en cuenta el efecto general sobre su obligación tributaria. File free tax return Compare el impuesto que pagaría si tomara una o ambas opciones con el impuesto si no tomara ninguna de las dos. File free tax return Ingresos de inversiones de un hijo declarados por los padres. File free tax return    Los ingresos de inversiones incluyen la parte del ingreso de intereses y dividendos de su hijo que escoge declarar en su declaración. File free tax return Si el hijo no tiene dividendos calificados, dividendos del Alaska Permanent Fund (Fondo Permanente de Alaska) o distribuciones de ganancias de capital, esta cantidad corresponde a la línea 6 del Formulario 8814, Parents' Election To Report Child's Interest and Dividends (Elección de los padres de declarar los intereses y dividendos del hijo), en inglés. File free tax return Dividendos calificados del hijo. File free tax return   Si parte de la cantidad que usted declara corresponde a los dividendos calificados de su hijo, esa parte (la cual se declara en la línea 9b del Formulario 1040) generalmente no cuenta como ingreso de inversiones. File free tax return Sin embargo, puede escoger incluir toda o parte de la misma en los ingresos de inversiones, como se explica en Si escoge incluir dividendos calificados , anteriormente. File free tax return   Sus ingresos de inversiones también incluyen la cantidad de la línea 12 del Formulario 8814 (o, si corresponde, la cantidad reducida calculada bajo Dividendos del Alaska Permanent Fund (Fondo Permanente de Alaska) del hijo, tema presentado a continuación. File free tax return Dividendos del Alaska Permanent Fund (Fondo Permanente de Alaska) del hijo. File free tax return   Si parte de la cantidad que declara corresponde a los dividendos de su hijo del Alaska Permanent Fund, dicha parte no cuenta como ingresos de inversiones. File free tax return Para calcular la cantidad de los ingresos de su hijo que usted puede considerar ingresos de inversiones suyos, empiece con la cantidad que aparece en la línea 6 del Formulario 8814. File free tax return Multiplique dicha cantidad por un porcentaje que sea igual a los dividendos del Alaska Permanent Fund divididos por el total de la línea 4 del Formulario 8814. File free tax return Reste el resultado de la cantidad de la línea 12 del Formulario 8814. File free tax return Distribuciones de las ganancias de capital del hijo. File free tax return    Si parte de la cantidad que usted declara corresponde a distribuciones de las ganancias de capital de su hijo, dicha parte (la cual se declara en la línea 13 del Anexo D o la línea 13 del Formulario 1040) generalmente no cuenta como ingresos de inversiones. File free tax return Sin embargo, puede escoger incluir la totalidad o parte de la misma en los ingresos de inversiones, como se explica en Si escoge incluir ganancias netas de capital , anteriormente. File free tax return   Sus ingresos de inversiones también incluyen la cantidad de la línea 12 del Formulario 8814 (o, si corresponde, la cantidad reducida calculada bajo Dividendos del Alaska Permanent Fund (Fondo Permanente de Alaska) del hijo , anteriormente). File free tax return Gastos de inversión. File free tax return   Los gastos de inversión incluyen las deducciones permitidas (a excepción de los gastos de intereses) relacionados directamente con la generación de ingresos de inversión. File free tax return Los gastos de inversión que se incluyan como deducción detallada miscelánea en el Anexo A (Formulario 1040) son deducciones permisibles después de haberse aplicado el límite del 2% que corresponde a las deducciones detalladas misceláneas. File free tax return Utilice la cantidad que sea menor entre: Los gastos de inversión incluidos en la línea 23 del Anexo A (Formulario 1040) o La cantidad de la línea 27 del Anexo A. File free tax return Pérdidas de actividades pasivas. File free tax return   Los ingresos o gastos que usted utilizó al calcular su ingreso o pérdida de una actividad pasiva no se incluyen al determinar sus ingresos o gastos de inversión (incluidos gastos de intereses de inversión). File free tax return Vea la Publicación 925, Passive Activity and At-Risk Rules (Actividad pasiva y reglas sobre el monto a riesgo), en inglés, para información acerca de las actividades pasivas. File free tax return Formulario 4952 Use el Formulario 4952, Investment Interest Expense Deduction (Deducción por gastos de intereses de inversión), en inglés, para calcular su deducción por intereses de inversión. File free tax return Excepción al uso del Formulario 4952. File free tax return   No tiene que llenar el Formulario 4952 ni adjuntarlo a su declaración si reúne todos los requisitos siguientes: Sus gastos de intereses de inversión no son mayores que sus ingresos de inversión provenientes de intereses y dividendos ordinarios menos los dividendos calificados. File free tax return No tiene ningún otro gasto de inversión deducible. File free tax return No ha traspasado ningún gasto de intereses de inversión del año 2012. File free tax return Si reúne todas estas condiciones, puede deducir todos sus intereses de inversión. File free tax return Información Adicional Para más información sobre los intereses de inversión, vea Interest Expenses (Gastos de intereses), en el capítulo 3 de la Publicación 550, en inglés. File free tax return Cantidades que No Puede Deducir Algunos pagos de intereses no son deducibles. File free tax return Ciertos gastos semejantes a los intereses tampoco son deducibles. File free tax return Los gastos no deducibles incluyen los siguientes: Intereses personales (explicados más adelante). File free tax return Cargos por servicios (no obstante, vea Otros Gastos (Línea 23) en el capítulo 28). File free tax return Cargos anuales por tarjetas de crédito. File free tax return Cargos de préstamos. File free tax return Cargos por investigación de crédito. File free tax return Intereses para comprar o tener valores exentos de impuestos. File free tax return Multas y sanciones. File free tax return   No puede deducir multas y sanciones pagadas a un gobierno por violaciones de la ley, independientemente de su naturaleza. File free tax return Intereses Personales Los intereses personales no son deducibles. File free tax return Los intereses personales son aquellos intereses que no son intereses hipotecarios de vivienda, intereses de inversión, intereses comerciales u otros intereses deducibles. File free tax return Incluyen lo siguiente: Intereses sobre préstamos de automóvil (a menos que usted use el automóvil para negocios). File free tax return Intereses sobre el impuesto federal, estatal o local sobre el ingreso. File free tax return Cargos por financiamiento de tarjetas de crédito, contratos de venta al por menor a plazos y cuentas de crédito rotativas en los que se ha incurrido por gastos personales. File free tax return Multas por pagos atrasados por una empresa de servicios públicos. File free tax return Quizás pueda deducir los intereses que pague sobre un préstamo de estudios calificado. File free tax return Para más detalles, vea la Publicación 970, Tax Benefits for Education (Beneficios tributarios por estudios), en inglés. File free tax return Asignación de Intereses Si usa los fondos de un préstamo para más de un propósito (por ejemplo, personal y comercial), tiene que asignar los intereses sobre el préstamo para cada uso. File free tax return Sin embargo, no tiene que asignar intereses hipotecarios de vivienda si son totalmente deducibles, independientemente de cómo se usen los fondos. File free tax return Los intereses sobre un préstamo (a excepción de intereses hipotecarios de vivienda totalmente deducibles) se asignan igual que se asigna el préstamo mismo. File free tax return Esto se hace averiguando cómo se asignaron a usos específicos los desembolsos de los fondos procedentes de la deuda. File free tax return Para más información sobre cómo hacer esto, vea el capítulo 4 de la Publicación 535, en inglés. File free tax return Cómo Hacer la Declaración Tiene que presentar el Formulario 1040 para deducir los gastos de intereses hipotecarios de vivienda en su declaración de impuestos. File free tax return El lugar donde se deducen los gastos de intereses suele depender de cómo se usen los fondos procedentes del préstamo. File free tax return Vea la Tabla 23-1 para un resumen de dónde deducir sus gastos de intereses. File free tax return Tabla 23-1. File free tax return Dónde Deducir los Gastos de Intereses SI usted tiene. File free tax return . File free tax return . File free tax return ENTONCES dedúzcalo en la. File free tax return . File free tax return . File free tax return Y para más información pase a la(s). File free tax return . File free tax return . File free tax return intereses deducibles sobre un préstamo de estudios línea 33 del Formulario 1040 o la línea 18 del Formulario 1040A Publicación 970, en inglés. File free tax return intereses deducibles sobre una hipoteca de vivienda y puntos declarados en el Formulario 1098 línea 10 del Anexo A (Formulario 1040) Publicación 936, en inglés. File free tax return intereses deducibles sobre una hipoteca de vivienda no declarados en el Formulario 1098 línea 11 del Anexo A (Formulario 1040) Publicación 936, en inglés. File free tax return puntos deducibles no declarados en el Formulario 1098 línea 12 del Anexo A (Formulario 1040) Publicación 936, en inglés. File free tax return primas de un seguro hipotecario deducibles línea 13 del Anexo A (Formulario 1040) Publicación 936, en inglés. File free tax return intereses de inversión deducibles (a excepción de intereses en los que se haya incurrido para generar alquileres o regalías) línea 14 del Anexo A (Formulario 1040) Publicación 550, en inglés. File free tax return intereses comerciales deducibles (no agrícolas) Anexo C o C-EZ (Formulario 1040) Publicación 535, en inglés. File free tax return intereses deducibles de negocio agrícola Anexo F (Formulario 1040) Publicaciones 225 y 535, en inglés. File free tax return intereses deducibles en los que se haya incurrido para generar alquileres o regalías Anexo E (Formulario 1040) Publicaciones 527 y 535, en inglés. File free tax return intereses personales no deducibles. File free tax return Intereses y puntos de una hipoteca de vivienda. File free tax return   Deduzca los intereses y puntos de una hipoteca de vivienda que le sean declarados a usted en el Formulario 1098, anotándolos en la línea 10 del Anexo A (Formulario 1040). File free tax return Si usted le pagó a la institución financiera más intereses deducibles que la cantidad que aparece en el Formulario 1098, anote la cantidad deducible que sea mayor en la línea 10. File free tax return Adjunte un documento escrito explicando la diferencia y escriba “See attached” (Vea el documento adjunto) en letra de molde al lado de la línea 10. File free tax return    En el caso de los intereses hipotecarios de vivienda que no se le declararon a usted en el Formulario 1098, dedúzcalos en la línea 11 del Anexo A (Formulario 1040). File free tax return Si le pagó intereses hipotecarios de vivienda a la persona a la cual le compró su vivienda, anote el nombre, dirección y número de identificación del contribuyente (TIN, por sus siglas en inglés) de dicha persona en la línea de puntos al lado de la línea 11. File free tax return El vendedor tiene que darle a usted este número y usted tiene que darle al vendedor su número de identificación del contribuyente. File free tax return Para este fin, puede utilizar el Formulario W-9(SP), Solicitud y Certificación del Número de Identificación del Contribuyente (o el Formulario W-9, en inglés). File free tax return La falta de cumplimiento de alguno de estos requisitos podría resultar en una multa de $50 por cada incumplimiento. File free tax return El TIN puede ser un número de Seguro Social, un número de identificación de contribuyente individual (emitido por el IRS) o un número de identificación del empleador. File free tax return Vea Número de Seguro Social , en el capítulo 1, para más información sobre los TIN. File free tax return    Si puede declarar una deducción por puntos que no le fueron comunicados en el Formulario 1098, deduzca esos puntos en la línea 12 del Anexo A (Formulario 1040). File free tax return    Deduzca primas de seguro hipotecario en la línea 13 del Anexo A (Formulario 1040). File free tax return Más de un prestatario. File free tax return   Si usted y por lo menos otra persona (que no sea su cónyuge, si presenta una declaración conjunta) eran responsables de pagar, y pagaron, los intereses de una hipoteca para su vivienda, y la otra persona recibió un Formulario 1098 mostrando los intereses pagados durante el año, adjunte un documento escrito a su declaración de impuestos explicándolo. File free tax return Anote la cantidad de los intereses que cada uno pagó y dé el nombre y la dirección de la persona que recibió el formulario. File free tax return Deduzca su parte de los intereses en la línea 11 del Anexo A (Formulario 1040) y escriba “ See attached ” (Vea el documento adjunto) en letra de molde al lado de esta línea. File free tax return Además, deduzca su parte de toda prima de seguro hipotecario en la línea 13 del Anexo A (Formulario 1040). File free tax return   Del mismo modo, si es el pagador oficial de una hipoteca sobre la cual hay otros prestatarios con derecho a una deducción por los intereses que aparecen en el Formulario 1098 que recibió, deduzca únicamente su parte de los intereses en la línea 10 del Anexo A (Formulario 1040). File free tax return Usted debe comunicarles a los demás prestatarios qué participación en los intereses tiene cada uno. File free tax return Fondos procedentes de una hipoteca utilizados para negocios o inversiones. File free tax return    Si su deducción por intereses hipotecarios de vivienda es limitada pero la totalidad o una parte de los fondos procedentes de la hipoteca se utilizaron para fines comerciales, de inversión o para otras actividades deducibles, vea la Tabla 23-1 . File free tax return La misma indica dónde deducir las partes de los intereses en exceso que correspondan a esas actividades. File free tax return Intereses de inversión. File free tax return    Deduzca los intereses de inversión, sujetos a ciertos límites explicados en la Publicación 550, en inglés, anotándolos en la línea 14 del Anexo A (Formulario 1040). File free tax return Amortización de primas sobre bonos. File free tax return   Hay varias maneras de tratar las primas que se pagan para comprar bonos tributables. File free tax return Vea Bond Premium Amortization (Amortización de Primas sobre Bonos) en la Publicación 550, en inglés. File free tax return Intereses por regalías o de alquiler que generen ingresos. File free tax return   Deduzca en la Parte I del Anexo E (Formulario 1040) los intereses sobre un préstamo para bienes de alquiler que generen ingresos o bienes que generen regalías y que no se usen en un negocio. File free tax return Ejemplo. File free tax return Usted alquila una parte de su vivienda y saca un préstamo para hacer reparaciones. File free tax return Puede deducir sólo el pago de intereses de la parte alquilada anotándolo en la Parte I del Anexo E (Formulario 1040). File free tax return Deduzca el resto del pago de intereses en el Anexo A (Formulario 1040) si son intereses hipotecarios de vivienda deducibles. File free tax return Prev  Up  Next   Home   More Online Publications