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Filing State Tax Free

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Filing State Tax Free

Filing state tax free Publication 1212 - Main Content Table of Contents Definitions Debt Instruments on the OID List Debt Instruments Not on the OID List Information for Brokers and Other MiddlemenShort-Term Obligations Redeemed at Maturity Long-Term Debt Instruments Certificates of Deposit Bearer Bonds and Coupons Backup Withholding Information for Owners of OID Debt InstrumentsExceptions. Filing state tax free Adjustment for premium. Filing state tax free Adjustment for acquisition premium. Filing state tax free Adjustment for market discount. Filing state tax free Form 1099-OID How To Report OID Figuring OID on Long-Term Debt Instruments Figuring OID on Stripped Bonds and Coupons How To Get Tax HelpLow Income Taxpayer Clinics Definitions The following terms are used throughout this publication. Filing state tax free “Original issue discount” is defined first. Filing state tax free The other terms are listed alphabetically. Filing state tax free Original issue discount (OID). Filing state tax free   OID is a form of interest. Filing state tax free It is the excess of a debt instrument's stated redemption price at maturity over its issue price (acquisition price for a stripped bond or coupon). Filing state tax free Zero coupon bonds and debt instruments that pay no stated interest until maturity are examples of debt instruments that have OID. Filing state tax free Accrual period. Filing state tax free   An accrual period is an interval of time used to measure OID. Filing state tax free The length of an accrual period can be 6 months, a year, or some other period, depending on when the debt instrument was issued. Filing state tax free Acquisition premium. Filing state tax free   Acquisition premium is the excess of a debt instrument's adjusted basis immediately after purchase, including purchase at original issue, over the debt instrument's adjusted issue price at that time. Filing state tax free A debt instrument does not have acquisition premium, however, if the debt instrument was purchased at a premium. Filing state tax free See Premium, later. Filing state tax free Adjusted issue price. Filing state tax free   The adjusted issue price of a debt instrument at the beginning of an accrual period is used to figure the OID allocable to that period. Filing state tax free In general, the adjusted issue price at the beginning of the debt instrument's first accrual period is its issue price. Filing state tax free The adjusted issue price at the beginning of any subsequent accrual period is the sum of the issue price and all the OID includible in income before that accrual period minus any payment previously made on the debt instrument, other than a payment of qualified stated interest. Filing state tax free Debt instrument. Filing state tax free   The term “debt instrument” means any instrument or contractual arrangement that constitutes indebtedness under general principles of federal income tax law (including, for example, a bond, debenture, note, certificate, or other evidence of indebtedness). Filing state tax free It generally does not include an annuity contract. Filing state tax free Issue price. Filing state tax free   For debt instruments listed in Section I-A and Section I-B, the issue price generally is the initial offering price to the public (excluding bond houses and brokers) at which a substantial amount of these instruments was sold. Filing state tax free Market discount. Filing state tax free   Market discount arises when a debt instrument purchased in the secondary market has decreased in value since its issue date, generally because of an increase in interest rates. Filing state tax free An OID debt instrument has market discount if your adjusted basis in the debt instrument immediately after you acquired it (usually its purchase price) was less than the debt instrument's issue price plus the total OID that accrued before you acquired it. Filing state tax free The market discount is the difference between the issue price plus accrued OID and your adjusted basis. Filing state tax free Premium. Filing state tax free   A debt instrument is purchased at a premium if its adjusted basis immediately after purchase is greater than the total of all amounts payable on the debt instrument after the purchase date, other than qualified stated interest. Filing state tax free The premium is the excess of the adjusted basis over the payable amounts. Filing state tax free See Publication 550 for information on the tax treatment of bond premium. Filing state tax free Qualified stated interest. Filing state tax free   In general, qualified stated interest is stated interest that is unconditionally payable in cash or property (other than debt instruments of the issuer) at least annually over the term of the debt instrument at a single fixed rate. Filing state tax free Stated redemption price at maturity. Filing state tax free   A debt instrument's stated redemption price at maturity is the sum of all amounts (principal and interest) payable on the debt instrument other than qualified stated interest. Filing state tax free Yield to maturity (YTM). Filing state tax free   In general, the YTM is the discount rate that, when used in figuring the present value of all principal and interest payments, produces an amount equal to the issue price of the debt instrument. Filing state tax free The YTM is generally shown on the face of the debt instrument or in the literature you receive from your broker. Filing state tax free If you do not have this information, consult your broker, tax advisor, or the issuer. Filing state tax free Debt Instruments on the OID List The OID list on the IRS website can be used by brokers and other middlemen to prepare information returns. Filing state tax free If you own a listed debt instrument, you generally should not rely on the information in the OID list to determine (or compare) the OID to be reported on your tax return. Filing state tax free The OID amounts listed are figured without reference to the price or date at which you acquired the debt instrument. Filing state tax free For information about determining the OID to be reported on your tax return, see the instructions for figuring OID under Information for Owners of OID Debt Instruments, later. Filing state tax free The following discussions explain what information is contained in each section of the list. Filing state tax free Section I. Filing state tax free   This section contains publicly offered, long-term debt instruments. Filing state tax free Section I-A: Corporate Debt Instruments Issued Before 1985. Filing state tax free Section I-B: Corporate Debt Instruments Issued After 1984. Filing state tax free Section I-C: Inflation-Indexed Debt Instruments. Filing state tax free For each publicly offered debt instrument in Section I, the list contains the following information. Filing state tax free The name of the issuer. Filing state tax free The Committee on Uniform Security Identification Procedures (CUSIP) number. Filing state tax free The issue date. Filing state tax free The maturity date. Filing state tax free The issue price expressed as a percent of principal or of stated redemption price at maturity. Filing state tax free The annual stated or coupon interest rate. Filing state tax free (This rate is shown as 0. Filing state tax free 00 if no annual interest payments are provided. Filing state tax free ) The yield to maturity will be added to Section I-B for bonds issued after December 31, 2006. Filing state tax free The total OID accrued up to January 1 of a calendar year. Filing state tax free (This information is not available for every instrument. Filing state tax free ) For long-term debt instruments issued after July 1, 1982, the daily OID for the accrual periods falling in a calendar year and a subsequent year. Filing state tax free The total OID per $1,000 of principal or maturity value for a calendar year and a subsequent year. Filing state tax free Section II. Filing state tax free   This section contains stripped coupons and principal components of U. Filing state tax free S. Filing state tax free Treasury and Government-Sponsored Enterprise debt instruments. Filing state tax free These stripped components are available through the Department of the Treasury's Separate Trading of Registered Interest and Principal of Securities (STRIPS) program and government-sponsored enterprises such as the Resolution Funding Corporation. Filing state tax free This section also includes debt instruments backed by U. Filing state tax free S. Filing state tax free Treasury securities that represent ownership interests in those securities. Filing state tax free   The obligations listed in Section II are arranged by maturity date. Filing state tax free The amounts listed are the total OID for a calendar year per $1,000 of redemption price. Filing state tax free Section III. Filing state tax free   This section contains short-term discount obligations. Filing state tax free Section III-A: Short-Term U. Filing state tax free S. Filing state tax free Treasury Bills. Filing state tax free Section III-B: Federal Home Loan Banks. Filing state tax free Section III-C: Federal National Mortgage Association. Filing state tax free Section III-D: Federal Farm Credit Banks. Filing state tax free Section III-E: Federal Home Loan Mortgage Corporation. Filing state tax free Section III-F: Federal Agricultural Mortgage Corporation. Filing state tax free    Information that supplements Section III-A is available on the Internet at http://www. Filing state tax free treasurydirect. Filing state tax free gov/tdhome. Filing state tax free htm. Filing state tax free   The short-term obligations listed in this section are arranged by maturity date. Filing state tax free For each obligation, the list contains the CUSIP number, maturity date, issue date, issue price (expressed as a percent of principal), and discount to be reported as interest for a calendar year per $1,000 of redemption price. Filing state tax free Brokers and other middlemen should rely on the issue price information in Section III only if they are unable to determine the price actually paid by the owner. Filing state tax free Debt Instruments Not on the OID List The list of debt instruments discussed earlier does not contain the following items. Filing state tax free U. Filing state tax free S. Filing state tax free savings bonds. Filing state tax free Certificates of deposit and other face-amount certificates issued at a discount, including syndicated certificates of deposit. Filing state tax free Obligations issued by tax-exempt organizations. Filing state tax free OID debt instruments that matured or were entirely called by the issuer before the tables were posted on the IRS website. Filing state tax free Mortgage-backed securities and mortgage participation certificates. Filing state tax free Long-term OID debt instruments issued before May 28, 1969. Filing state tax free Short-term obligations, other than the obligations listed in Section III. Filing state tax free Debt instruments issued at a discount by states or their political subdivisions. Filing state tax free REMIC regular interests and CDOs. Filing state tax free Commercial paper and banker's acceptances issued at a discount. Filing state tax free Obligations issued at a discount by individuals. Filing state tax free Foreign obligations not traded in the United States and obligations not issued in the United States. Filing state tax free Information for Brokers and Other Middlemen The following discussions contain specific instructions for brokers and middlemen who hold or redeem a debt instrument for the owner. Filing state tax free In general, you must file a Form 1099 for the debt instrument if the interest or OID to be included in the owner's income for a calendar year totals $10 or more. Filing state tax free You also must file a Form 1099 if you were required to deduct and withhold tax, even if the interest or OID is less than $10. Filing state tax free See Backup Withholding, later. Filing state tax free If you must file a Form 1099, furnish a copy to the owner of the debt instrument by January 31 in the year it is due. Filing state tax free File all your Forms 1099 with the IRS, accompanied by Form 1096, by February 28 in the year it is due (March 31 if you file electronically). Filing state tax free Electronic payee statements. Filing state tax free   You can issue Form 1099-OID electronically with the consent of the recipient. Filing state tax free More information. Filing state tax free   For more information, including penalties for failure to file (or furnish) required information returns or statements, see the General Instructions for Certain Information Returns (Forms 1098, 1099, 3921, 3922, 5498, and W-2G) for the appropriate calendar year. Filing state tax free Short-Term Obligations Redeemed at Maturity If you redeem a short-term discount obligation for the owner at maturity, you must report the discount as interest on Form 1099-INT. Filing state tax free To figure the discount, use the purchase price shown on the owner's copy of the purchase confirmation receipt or similar record, or the price shown in your transaction records. Filing state tax free If you sell the obligation for the owner before maturity, you must file Form 1099-B to reflect the gross proceeds to the seller. Filing state tax free Do not report the accrued discount to the date of sale on either Form 1099-INT or Form 1099-OID. Filing state tax free If the owner's purchase price cannot be determined, figure the discount as if the owner had purchased the obligation at its original issue price. Filing state tax free A special rule is used to determine the original issue price for information reporting on U. Filing state tax free S. Filing state tax free Treasury bills (T-bills) listed in Section III-A. Filing state tax free Under this rule, you treat as the original issue price of the T-bill the noncompetitive (weighted average of accepted auction bids) discount price for the longest-maturity T-bill maturing on the same date as the T-bill being redeemed. Filing state tax free This noncompetitive discount price is the issue price (expressed as a percent of principal) shown in Section III-A. Filing state tax free A similar rule is used to figure the discount on short-term discount obligations issued by the organizations listed in Section III-B through Section III-F. Filing state tax free Example 1. Filing state tax free There are 13-week and 26-week T-bills maturing on the same date as the T-bill being redeemed. Filing state tax free The price actually paid by the owner cannot be established by owner or middleman records. Filing state tax free You treat as the issue price of the T-bill the noncompetitive discount price (expressed as a percent of principal) shown in Section III-A for a 26-week bill maturing on the same date as the T-bill redeemed. Filing state tax free The interest you report on Form 1099-INT is the OID (per $1,000 of principal) shown in Section III-A for that obligation. Filing state tax free Long-Term Debt Instruments If you hold a long-term OID debt instrument as a nominee for the true owner, you generally must file Form 1099-OID. Filing state tax free For this purpose, you can rely on Section I of the OID list to determine the following information. Filing state tax free Whether a debt instrument has OID. Filing state tax free The OID to be reported on the Form 1099-OID. Filing state tax free In general, you must report OID on publicly offered, long-term debt instruments listed in Section I. Filing state tax free You also can report OID on other long-term debt instruments. Filing state tax free Form 1099-OID. Filing state tax free   On Form 1099-OID for a calendar year show the following information. Filing state tax free Box 1. Filing state tax free The OID for the actual dates the owner held the debt instruments during a calendar year. Filing state tax free To determine this amount, see Figuring OID, next. Filing state tax free Box 2. Filing state tax free The qualified stated interest paid or credited during the calendar year. Filing state tax free Interest reported here is not reported on Form 1099-INT. Filing state tax free The qualified stated interest on Treasury inflation-protected securities may be reported on Form 1099-INT in box 3 instead. Filing state tax free Box 3. Filing state tax free Any interest or principal forfeited because of an early withdrawal that the owner can deduct from gross income. Filing state tax free Do not reduce the amounts in boxes 1 and 2 by the forfeiture. Filing state tax free Box 4. Filing state tax free Any backup withholding for this debt instrument. Filing state tax free Box 7. Filing state tax free The CUSIP number, if any. Filing state tax free If there is no CUSIP number, give a description of the debt instrument, including the abbreviation for the stock exchange, the abbreviation used by the stock exchange for the issuer, the coupon rate, and the year of maturity (for example, NYSE XYZ 12. Filing state tax free 50 2006). Filing state tax free If the issuer of the debt instrument is other than the payer, show the name of the issuer in this box. Filing state tax free Box 8. Filing state tax free The OID on a U. Filing state tax free S. Filing state tax free Treasury obligation for the part of the year the owner held the debt instrument. Filing state tax free Box 9. Filing state tax free Investment expenses passed on to holders of a single-class REMIC. Filing state tax free Boxes 10-12. Filing state tax free Use to report any state income tax withheld for this debt instrument. Filing state tax free Figuring OID. Filing state tax free   You can determine the OID on a long-term debt instrument by using either of the following. Filing state tax free Section I of the OID list. Filing state tax free The income tax regulations. Filing state tax free Using Section I. Filing state tax free   If the owner held the debt instrument for the entire calendar year, report the OID shown in Section I for the calendar year. Filing state tax free Because OID is listed for each $1,000 of stated redemption price at maturity, you must adjust the listed amount to reflect the debt instrument's actual stated redemption price at maturity. Filing state tax free For example, if the debt instrument's stated redemption price at maturity is $500, report one-half the listed OID. Filing state tax free   If the owner held the debt instrument for less than the entire calendar year, figure the OID to report as follows. Filing state tax free Look up the daily OID for the first accrual period in the calendar year during which the owner held the debt instrument. Filing state tax free Multiply the daily OID by the number of days the owner held the debt instrument during that accrual period. Filing state tax free Repeat steps (1) and (2) for any remaining accrual periods for the year during which the owner held the debt instrument. Filing state tax free Add the results in steps (2) and (3) to determine the owner's OID per $1,000 of stated redemption price at maturity. Filing state tax free If necessary, adjust the OID in (4) to reflect the debt instrument's stated redemption price at maturity. Filing state tax free Report the result on Form 1099-OID in box 1. Filing state tax free Using the income tax regulations. Filing state tax free   Instead of using Section I to figure OID, you can use the regulations under sections 1272 through 1275 of the Internal Revenue Code. Filing state tax free For example, under the regulations, you can use monthly accrual periods in figuring OID for a debt instrument issued after April 3, 1994, that provides for monthly payments. Filing state tax free (If you use Section I-B, the OID is figured using 6-month accrual periods. Filing state tax free )   For a general explanation of the rules for figuring OID under the regulations, see Figuring OID on Long-Term Debt Instruments under Information for Owners of OID Debt Instruments, later. Filing state tax free Certificates of Deposit If you hold a bank certificate of deposit (CD) as a nominee, you must determine whether the CD has OID and any OID includible in the income of the owner. Filing state tax free You must file an information return showing the reportable interest and OID, if any, on the CD. Filing state tax free These rules apply whether or not you sold the CD to the owner. Filing state tax free Report OID on a CD in the same way as OID on other debt instruments. Filing state tax free See Short-Term Obligations Redeemed at Maturity and Long-Term Debt Instruments, earlier. Filing state tax free Bearer Bonds and Coupons If a coupon from a bearer bond is presented to you for collection before the bond matures, you generally must report the interest on Form 1099-INT. Filing state tax free However, do not report the interest if either of the following apply. Filing state tax free You hold the bond as a nominee for the true owner. Filing state tax free The payee is a foreign person. Filing state tax free See Payments to foreign person under Backup Withholding, later. Filing state tax free Because you cannot assume the presenter of the coupon also owns the bond, you should not report OID on the bond on Form 1099-OID. Filing state tax free The coupon may have been “stripped” (separated) from the bond and separately purchased. Filing state tax free However, if a long-term bearer bond on the OID list is presented to you for redemption upon call or maturity, you should prepare a Form 1099-OID showing the OID for that calendar year, as well as any coupon interest payments collected at the time of redemption. Filing state tax free Backup Withholding If you report OID on Form 1099-OID or interest on Form 1099-INT for a calendar year, you may be required to apply backup withholding to the reportable payment at a rate of 28%. Filing state tax free The backup withholding is deducted at the time a cash payment is made. Filing state tax free See Pub. Filing state tax free 1281, Backup Withholding for Missing and Incorrect Name/TIN(s), for more information. Filing state tax free Backup withholding generally applies in the following situations. Filing state tax free The payee does not give you a taxpayer identification number (TIN). Filing state tax free The IRS notifies you that the payee gave an incorrect TIN. Filing state tax free The IRS notifies you that the payee is subject to backup withholding due to payee underreporting. Filing state tax free For debt instruments acquired after 1983: The payee does not certify, under penalties of perjury, that he or she is not subject to backup withholding under (3), or The payee does not certify, under penalties of perjury, that the TIN given is correct. Filing state tax free However, for short-term discount obligations (other than government obligations), bearer bonds and coupons, and U. Filing state tax free S. Filing state tax free savings bonds, backup withholding applies only if the payee does not give you a TIN or gives you an obviously incorrect number for a TIN. Filing state tax free Short-term obligations. Filing state tax free   Backup withholding applies to OID on a short-term obligation only when the OID is paid at maturity. Filing state tax free However, backup withholding applies to any interest payable before maturity when the interest is paid or credited. Filing state tax free   If the owner of a short-term obligation at maturity is not the original owner and can establish the purchase price of the obligation, the amount subject to backup withholding must be determined by treating the purchase price as the issue price. Filing state tax free However, you can choose to disregard that price if it would require significant manual intervention in the computer or recordkeeping system used for the obligation. Filing state tax free If the purchase price of a listed obligation is not established or is disregarded, you must use the issue price shown in Section III. Filing state tax free Long-term obligations. Filing state tax free   If no cash payments are made on a long-term obligation before maturity, backup withholding applies only at maturity. Filing state tax free The amount subject to backup withholding is the OID includible in the owner's gross income for the calendar year when the obligation matures. Filing state tax free The amount to be withheld is limited to the cash paid. Filing state tax free Registered long-term obligations with cash payments. Filing state tax free   If a registered long-term obligation has cash payments before maturity, backup withholding applies when a cash payment is made. Filing state tax free The amount subject to backup withholding is the total of the qualified stated interest (defined earlier under Definitions) and OID includible in the owner's gross income for the calendar year when the payment is made. Filing state tax free If more than one cash payment is made during the year, the OID subject to withholding for the year must be allocated among the expected cash payments in the ratio that each bears to the total of the expected cash payments. Filing state tax free For any payment, the required withholding is limited to the cash paid. Filing state tax free Payee not the original owner. Filing state tax free   If the payee is not the original owner of the obligation, the OID subject to backup withholding is the OID includible in the gross income of all owners during the calendar year (without regard to any amount paid by the new owner at the time of transfer). Filing state tax free The amount subject to backup withholding at maturity of a listed obligation must be determined using the issue price shown in Section I. Filing state tax free Bearer long-term obligations with cash payments. Filing state tax free   If a bearer long-term obligation has cash payments before maturity, backup withholding applies when the cash payments are made. Filing state tax free For payments before maturity, the amount subject to withholding is the qualified stated interest (defined earlier under Definitions) includible in the owner's gross income for the calendar year. Filing state tax free For a payment at maturity, the amount subject to withholding is only the total of any qualified stated interest paid at maturity and the OID includible in the owner's gross income for the calendar year when the obligation matures. Filing state tax free The required withholding at maturity is limited to the cash paid. Filing state tax free Sales and redemptions. Filing state tax free   If you report the gross proceeds from a sale, exchange, or redemption of a debt instrument on Form 1099-B for a calendar year, you may be required to withhold 28% of the amount reported. Filing state tax free Backup withholding applies in the following situations. Filing state tax free The payee does not give you a TIN. Filing state tax free The IRS notifies you that the payee gave an incorrect TIN. Filing state tax free For debt instruments held in an account opened after 1983, the payee does not certify, under penalties of perjury, that the TIN given is correct. Filing state tax free Payments outside the United States to U. Filing state tax free S. Filing state tax free person. Filing state tax free   The requirements for backup withholding and information reporting apply to payments of OID and interest made outside the United States to a U. Filing state tax free S. Filing state tax free person, a controlled foreign corporation, or a foreign person at least 50% of whose income for the preceding 3-year period is effectively connected with the conduct of a U. Filing state tax free S. Filing state tax free trade or business. Filing state tax free Payments to foreign person. Filing state tax free   The following discussions explain the rules for backup withholding and information reporting on payments to foreign persons. Filing state tax free U. Filing state tax free S. Filing state tax free -source amount. Filing state tax free   Backup withholding and information reporting are not required for payments of U. Filing state tax free S. Filing state tax free -source OID, interest, or proceeds from a sale or redemption of an OID instrument if the payee has given you proof (generally the appropriate Form W-8 or an acceptable substitute) that the payee is a foreign person. Filing state tax free A U. Filing state tax free S. Filing state tax free resident is not a foreign person. Filing state tax free For proof of the payee's foreign status, you can rely on the appropriate Form W-8 or on documentary evidence for payments made outside the United States to an offshore account or, in case of broker proceeds, a sale effected outside the United States. Filing state tax free Receipt of the appropriate Form W-8 does not relieve you from information reporting and backup withholding if you actually know the payee is a U. Filing state tax free S. Filing state tax free person. Filing state tax free   For information about the 28% withholding tax that may apply to payments of U. Filing state tax free S. Filing state tax free -source OID or interest to foreign persons, see Publication 515. Filing state tax free Foreign-source amount. Filing state tax free   Backup withholding and information reporting are not required for payments of foreign-source OID and interest made outside the United States. Filing state tax free However, if the payments are made inside the United States, the requirements for backup withholding and information reporting will apply unless the payee has given you the appropriate Form W-8 or acceptable substitute as proof that the payee is a foreign person. Filing state tax free More information. Filing state tax free   For more information about backup withholding and information reporting on foreign-source amounts or payments to foreign persons, see Regulations section 1. Filing state tax free 6049-5. Filing state tax free Information for Owners of OID Debt Instruments This section is for persons who prepare their own tax returns. Filing state tax free It discusses the income tax rules for figuring and reporting OID on long-term debt instruments. Filing state tax free It also includes a similar discussion for stripped bonds and coupons, such as zero coupon bonds available through the Department of the Treasury's STRIPS program and government-sponsored enterprises such as the Resolution Funding Corporation. Filing state tax free However, the information provided does not cover every situation. Filing state tax free More information can be found in the regulations under sections 1271 through 1275 of the Internal Revenue Code. Filing state tax free Including OID in income. Filing state tax free   Generally, you include OID in income as it accrues each year, whether or not you receive any payments from the debt instrument issuer. Filing state tax free Exceptions. Filing state tax free   The rules for including OID in income as it accrues generally do not apply to the following debt instruments. Filing state tax free U. Filing state tax free S. Filing state tax free savings bonds. Filing state tax free Tax-exempt obligations. Filing state tax free (However, see Tax-Exempt Bonds and Coupons, later. Filing state tax free ) Obligations issued by individuals before March 2, 1984. Filing state tax free Loans of $10,000 or less between individuals who are not in the business of lending money. Filing state tax free (The dollar limit includes outstanding prior loans by the lender to the borrower. Filing state tax free ) This exception does not apply if a principal purpose of the loan is to avoid any federal tax. Filing state tax free   See chapter 1 of Publication 550 for information about the rules for these and other types of discounted debt instruments, such as short-term and market discount obligations. Filing state tax free Publication 550 also discusses rules for holders of REMIC interests and CDOs. Filing state tax free De minimis rule. Filing state tax free   You can treat OID as zero if the total OID on a debt instrument is less than one-fourth of 1% (. Filing state tax free 0025) of the stated redemption price at maturity multiplied by the number of full years from the date of original issue to maturity. Filing state tax free Debt instruments with de minimis OID are not listed in this publication. Filing state tax free There are special rules to determine the de minimis amount in the case of debt instruments that provide for more than one payment of principal. Filing state tax free Also, the de minimis rules generally do not apply to tax-exempt obligations. Filing state tax free Example 2. Filing state tax free You bought at issuance a 10-year debt instrument with a stated redemption price at maturity of $1,000, issued at $980 with OID of $20. Filing state tax free One-fourth of 1% of $1,000 (the stated redemption price) times 10 (the number of full years from the date of original issue to maturity) equals $25. Filing state tax free Under the de minimis rule, you can treat the OID as zero because the $20 discount is less than $25. Filing state tax free Example 3. Filing state tax free Assume the same facts as Example 2, except the debt instrument was issued at $950. Filing state tax free You must report part of the $50 OID each year because it is more than $25. Filing state tax free Choice to report all interest as OID. Filing state tax free   Generally, you can choose to treat all interest on a debt instrument acquired after April 3, 1994, as OID and include it in gross income by using the constant yield method. Filing state tax free See Constant yield method under Debt Instruments Issued After 1984, later, for more information. Filing state tax free   For this choice, interest includes stated interest, acquisition discount, OID, de minimis OID, market discount, de minimis market discount, and unstated interest, as adjusted by any amortizable bond premium or acquisition premium. Filing state tax free For more information, see Regulations section 1. Filing state tax free 1272-3. Filing state tax free Purchase after date of original issue. Filing state tax free   A debt instrument you purchased after the date of original issue may have premium, acquisition premium, or market discount. Filing state tax free If so, the OID reported to you on Form 1099-OID may have to be adjusted. Filing state tax free For more information, see Showing an OID adjustment under How To Report OID, later. Filing state tax free The following rules generally do not apply to contingent payment debt instruments. Filing state tax free Adjustment for premium. Filing state tax free   If your debt instrument (other than an inflation-indexed debt instrument) has premium, do not report any OID as ordinary income. Filing state tax free Your adjustment is the total OID shown on your Form 1099-OID. Filing state tax free Adjustment for acquisition premium. Filing state tax free   If your debt instrument has acquisition premium, reduce the OID you report. Filing state tax free Your adjustment is the difference between the OID shown on your Form 1099-OID and the reduced OID amount figured using the rules explained later under Figuring OID on Long-Term Debt Instruments. Filing state tax free Adjustment for market discount. Filing state tax free   If your debt instrument has market discount that you choose to include in income currently, increase the OID you report. Filing state tax free Your adjustment is the accrued market discount for the year. Filing state tax free See Market Discount Bonds in chapter 1 of Publication 550 for information on how to figure accrued market discount and include it in your income currently and for other information about market discount bonds. Filing state tax free If you choose to use the constant yield method to figure accrued market discount, also see Figuring OID on Long-Term Debt Instruments, later. Filing state tax free The constant yield method of figuring accrued OID, explained in those discussions under Constant yield method, is also used to figure accrued market discount. Filing state tax free For more information concerning premium or market discount on an inflation-indexed debt instrument, see Regulations section 1. Filing state tax free 1275-7. Filing state tax free Sale, exchange, or redemption. Filing state tax free   Generally, you treat your gain or loss from the sale, exchange, or redemption of a discounted debt instrument as a capital gain or loss if you held the debt instrument as a capital asset. Filing state tax free If you sold the debt instrument through a broker, you should receive Form 1099-B or an equivalent statement from the broker. Filing state tax free Use the Form 1099-B or other statement and your brokerage statements to complete Form 8949, and Schedule D (Form 1040). Filing state tax free   Your gain or loss is the difference between the amount you realized on the sale, exchange, or redemption and your basis in the debt instrument. Filing state tax free Your basis, generally, is your cost increased by the OID you have included in income each year you held it. Filing state tax free In general, to determine your gain or loss on a tax-exempt bond, figure your basis in the bond by adding to your cost the OID you would have included in income if the bond had been taxable. Filing state tax free   See chapter 4 of Publication 550 for more information about the tax treatment of the sale or redemption of discounted debt instruments. Filing state tax free Example 4. Filing state tax free Larry, a calendar year taxpayer, bought a corporate debt instrument at original issue for $86,235. Filing state tax free 00 on November 1 of Year 1. Filing state tax free The 15-year debt instrument matures on October 31 of Year 16 at a stated redemption price of $100,000. Filing state tax free The debt instrument provides for semiannual payments of interest at 10%. Filing state tax free Assume the debt instrument is a capital asset in Larry's hands. Filing state tax free The debt instrument has $13,765. Filing state tax free 00 of OID ($100,000 stated redemption price at maturity minus $86,235. Filing state tax free 00 issue price). Filing state tax free Larry sold the debt instrument for $90,000 on November 1 of Year 4. Filing state tax free Including the OID he will report for the period he held the debt instrument in Year 4, Larry has included $4,556. Filing state tax free 00 of OID in income and has increased his basis by that amount to $90,791. Filing state tax free 00. Filing state tax free Larry has realized a loss of $791. Filing state tax free 00. Filing state tax free All of Larry's loss is capital loss. Filing state tax free Form 1099-OID The issuer of the debt instrument (or your broker, if you purchased or held the debt instrument through a broker) should give you a copy of Form 1099-OID or a similar statement if the accrued OID for the calendar year is $10 or more and the term of the debt instrument is more than 1 year. Filing state tax free Form 1099-OID shows all OID income in box 1 except OID on a U. Filing state tax free S. Filing state tax free Treasury obligation, which is shown in box 8. Filing state tax free It also shows, in box 2, any qualified stated interest you must include in income. Filing state tax free (However, any qualified stated interest on Treasury inflation-protected securities can be reported on Form 1099-INT in box 3. Filing state tax free ) A copy of Form 1099-OID will be sent to the IRS. Filing state tax free Do not attach your copy to your tax return. Filing state tax free Keep it for your records. Filing state tax free If you are required to file a tax return and you receive Form 1099-OID showing taxable amounts, you must report these amounts on your return. Filing state tax free A 20% accuracy-related penalty may be charged for underpayment of tax due to either negligence or disregard of rules and regulations or substantial understatement of tax. Filing state tax free Form 1099-OID not received. Filing state tax free   If you held an OID debt instrument for a calendar year but did not receive a Form 1099-OID, refer to the discussions under Figuring OID on Long-Term Debt Instruments, later, for information on the OID you must report. Filing state tax free Refiguring OID. Filing state tax free   You must refigure the OID shown on Form 1099-OID, in box 1 or box 8, to determine the proper amount to include in income if one of the following applies. Filing state tax free You bought the debt instrument at a premium or at an acquisition premium. Filing state tax free The debt instrument is a stripped bond or coupon (including zero coupon bonds backed by U. Filing state tax free S. Filing state tax free Treasury securities). Filing state tax free The debt instrument is a contingent payment or inflation-indexed debt instrument. Filing state tax free See the discussions under Figuring OID on Long-Term Debt Instruments or Figuring OID on Stripped Bonds and Coupons, later, for the specific computations. Filing state tax free Refiguring interest. Filing state tax free   If you disposed of a debt instrument or acquired it from another holder between interest dates, see the discussion under Bonds Sold Between Interest Dates in chapter 1 of Publication 550 for information about refiguring the interest shown on Form 1099-OID in box 2. Filing state tax free Nominee. Filing state tax free   If you are the holder of an OID debt instrument and you receive a Form 1099-OID that shows your taxpayer identification number and includes amounts belonging to another person, you are considered a “nominee. Filing state tax free ” You must file another Form 1099-OID for each actual owner, showing the OID for the owner. Filing state tax free Show the owner of the debt instrument as the “recipient” and you as the “payer. Filing state tax free ”   Complete Form 1099-OID and Form 1096 and file the forms with the Internal Revenue Service Center for your area. Filing state tax free You must also give a copy of the Form 1099-OID to the actual owner. Filing state tax free However, you are not required to file a nominee return to show amounts belonging to your spouse. Filing state tax free See the Form 1099 instructions for more information. Filing state tax free   When preparing your tax return, follow the instructions under Showing an OID adjustment in the next discussion. Filing state tax free How To Report OID Generally, you report your taxable interest and OID income on the interest line of Form 1040EZ, Form 1040A, or Form 1040. Filing state tax free Form 1040 or Form 1040A required. Filing state tax free   You must use Form 1040 or Form 1040A (you cannot use Form 1040EZ) under either of the following conditions. Filing state tax free You received a Form 1099-OID as a nominee for the actual owner. Filing state tax free Your total interest and OID income for the year was more than $1,500. Filing state tax free Form 1040 required. Filing state tax free   You must use Form 1040 (you cannot use Form 1040A or Form 1040EZ) if you are reporting more or less OID than the amount shown on Form 1099-OID, other than because you are a nominee. Filing state tax free For example, if you paid a premium or an acquisition premium when you purchased the debt instrument, you must use Form 1040 because you will report less OID than shown on Form 1099-OID. Filing state tax free Also, you must use Form 1040 if you were charged an early withdrawal penalty. Filing state tax free Where to report. Filing state tax free   List each payer's name (if a brokerage firm gave you a Form 1099, list the brokerage firm as the payer) and the amount received from each payer on Form 1040A, Schedule B, Part I, line 1, or Form 1040, Schedule B, line 1. Filing state tax free Include all OID and periodic interest shown on any Form 1099-OID, boxes 1, 2, and 8, you received for the tax year. Filing state tax free Also include any other OID and interest income for which you did not receive a Form 1099. Filing state tax free Showing an OID adjustment. Filing state tax free   If you use Form 1040 to report more or less OID than shown on Form 1099-OID, list the full OID on Schedule B, Part I, line 1, and follow the instructions under 1 or 2, next. Filing state tax free   If you use Form 1040A to report the OID shown on a Form 1099-OID you received as a nominee for the actual owner, list the full OID on Schedule B, Part I, line 1 and follow the instructions under 1. Filing state tax free If the OID, as adjusted, is less than the amount shown on Form 1099-OID, show the adjustment as follows. Filing state tax free Under your last entry on line 1, subtotal all interest and OID income listed on line 1. Filing state tax free Below the subtotal, write “Nominee Distribution” or “OID Adjustment” and show the OID you are not required to report. Filing state tax free Subtract that OID from the subtotal and enter the result on line 2. Filing state tax free If the OID, as adjusted, is more than the amount shown on Form 1099-OID, show the adjustment as follows. Filing state tax free Under your last entry on line 1, subtotal all interest and OID income listed on line 1. Filing state tax free Below the subtotal, write “OID Adjustment” and show the additional OID. Filing state tax free Add that OID to the subtotal and enter the result on line 2. Filing state tax free Figuring OID on Long-Term Debt Instruments How you figure the OID on a long-term debt instrument depends on the date it was issued. Filing state tax free It also may depend on the type of the debt instrument. Filing state tax free There are different rules for each of the following debt instruments. Filing state tax free Corporate debt instruments issued after 1954 and before May 28, 1969, and government debt instruments issued after 1954 and before July 2, 1982. Filing state tax free Corporate debt instruments issued after May 27, 1969, and before July 2, 1982. Filing state tax free Debt instruments issued after July 1, 1982, and before 1985. Filing state tax free Debt instruments issued after 1984 (other than debt instruments described in (5) and (6)). Filing state tax free Contingent payment debt instruments issued after August 12, 1996. Filing state tax free Inflation-indexed debt instruments (including Treasury inflation-protected securities) issued after January 5, 1997. Filing state tax free Zero coupon bonds. Filing state tax free   The rules for figuring OID on zero coupon bonds backed by U. Filing state tax free S. Filing state tax free Treasury securities are discussed under Figuring OID on Stripped Bonds and Coupons, later. Filing state tax free Corporate Debt Instruments Issued After 1954 and Before May 28, 1969, and Government Debt Instruments Issued After 1954 and Before July 2, 1982 If you hold these debt instruments as capital assets, you include OID in income only in the year the debt instrument is sold, exchanged, or redeemed, and only if you have a gain. Filing state tax free The OID, which is taxed as ordinary income, generally equals the following amount. Filing state tax free   number of full months you held the debt instrument  number of full months from date of original issue to date of maturity X original issue discount The balance of the gain is capital gain. Filing state tax free If there is a loss on the sale of the debt instrument, the entire loss is a capital loss and no OID is reported. Filing state tax free Corporate Debt Instruments Issued After May 27, 1969, and Before July 2, 1982 If you hold these debt instruments as capital assets, you must include part of the OID in income each year you own the debt instruments. Filing state tax free For information about showing the correct OID on your tax return, see the discussion under How To Report OID, earlier. Filing state tax free Your basis in the debt instrument is increased by the OID you include in income. Filing state tax free Form 1099-OID. Filing state tax free   You should receive a Form 1099-OID showing OID for the part of the year you held the debt instrument. Filing state tax free However, if you paid an acquisition premium, you may need to refigure the OID to report on your tax return. Filing state tax free See Reduction for acquisition premium, later. Filing state tax free If you held an OID debt instrument in a calendar year but did not receive a Form 1099-OID, see Form 1099-OID not received, immediately below, and refer to Section I-A available at www. Filing state tax free irs. Filing state tax free gov/pub1212 by clicking the link under Recent Developments. Filing state tax free Form 1099-OID not received. Filing state tax free    The OID listed is for each $1,000 of redemption price. Filing state tax free You must adjust the listed amount if your debt instrument has a different principal amount. Filing state tax free For example, if you have a debt instrument with a $500 principal amount, use one-half the listed amount to figure your OID. Filing state tax free   If you held the debt instrument the entire year, use the OID shown in Section I-A for a calendar year. Filing state tax free (If your debt instrument is not listed in Section I-A, consult the issuer for information about the issue price and the OID that accrued for that year. Filing state tax free ) If you did not hold the debt instrument the entire year, figure your OID using the following method. Filing state tax free Divide the OID shown by 12. Filing state tax free Multiply the result in (1) by the number of complete and partial months (for example, 6½ months) you held the debt instrument during a calendar year. Filing state tax free This is the OID to include in income unless you paid an acquisition premium. Filing state tax free The reduction for acquisition premium is discussed next. Filing state tax free Reduction for acquisition premium. Filing state tax free   If you bought the debt instrument at an acquisition premium, figure the OID to include in income as follows. Filing state tax free Divide the total OID on the debt instrument by the number of complete months, and any part of a month, from the date of original issue to the maturity date. Filing state tax free This is the monthly OID. Filing state tax free Subtract from your cost the issue price and the accumulated OID from the date of issue to the date of purchase. Filing state tax free (If the result is zero or less, stop here. Filing state tax free You did not pay an acquisition premium. Filing state tax free ) Divide the amount figured in (2) by the number of complete months, and any part of a month, from the date of your purchase to the maturity date. Filing state tax free Subtract the amount figured in (3) from the amount figured in (1). Filing state tax free This is the OID to include in income for each month you hold the debt instrument during the year. Filing state tax free Transfers during the month. Filing state tax free   If you buy or sell a debt instrument on any day other than the same day of the month as the date of original issue, the ratable monthly portion of OID for the month of sale is divided between the seller and the buyer according to the number of days each held the debt instrument. Filing state tax free Your holding period for this purpose begins the day you acquire the debt instrument and ends the day before you dispose of it. Filing state tax free Debt Instruments Issued After July 1, 1982, and Before 1985 If you hold these debt instruments as capital assets, you must include part of the OID in income each year you own the debt instruments and increase your basis by the amount included. Filing state tax free For information about showing the correct OID on your tax return, see How To Report OID, earlier. Filing state tax free Form 1099-OID. Filing state tax free   You should receive a Form 1099-OID showing OID for the part of the year you held the debt instrument. Filing state tax free However, if you paid an acquisition premium, you may need to refigure the OID to report on your tax return. Filing state tax free See Constant yield method and the discussions on acquisition premium that follow, later. Filing state tax free If you held an OID debt instrument in a calendar year but did not receive a Form 1099-OID, see Form 1099-OID not received, immediately below, and refer to Section I-A available at www. Filing state tax free irs. Filing state tax free gov/pub1212 by clicking the link under Recent Developments. Filing state tax free Form 1099-OID not received. Filing state tax free    The OID listed is for each $1,000 of redemption price. Filing state tax free You must adjust the listed amount if your debt instrument has a different principal amount. Filing state tax free For example, if you have a debt instrument with a $500 principal amount, use one-half the listed amount to figure your OID. Filing state tax free   If you held the debt instrument the entire year, use the OID shown in Section I-A. Filing state tax free (If your instrument is not listed in Section I-A, consult the issuer for information about the issue price, the yield to maturity, and the OID that accrued for that year. Filing state tax free ) If you did not hold the debt instrument the entire year, figure your OID using either of the following methods. Filing state tax free Method 1. Filing state tax free    Divide the total OID for a calendar year by 365 (366 for leap years). Filing state tax free Multiply the result in (1) by the number of days you held the debt instrument during that particular year. Filing state tax free  This computation is an approximation and may result in a slightly higher OID than Method 2. Filing state tax free Method 2. Filing state tax free    Look up the daily OID for the first accrual period you held the debt instrument during a calendar year. Filing state tax free (See Accrual period under Constant yield method, next. Filing state tax free ) Multiply the daily OID by the number of days you held the debt instrument during that accrual period. Filing state tax free If you held the debt instrument for part of both accrual periods, repeat (1) and (2) for the second accrual period. Filing state tax free Add the results of (2) and (3). Filing state tax free This is the OID to include in income, unless you paid an acquisition premium. Filing state tax free (The reduction for acquisition premium is discussed later. Filing state tax free ) Constant yield method. Filing state tax free   This discussion shows how to figure OID on debt instruments issued after July 1, 1982, and before 1985, using a constant yield method. Filing state tax free OID is allocated over the life of the debt instrument through adjustments to the issue price for each accrual period. Filing state tax free   Figure the OID allocable to any accrual period as follows. Filing state tax free Multiply the adjusted issue price at the beginning of the accrual period by the debt instrument's yield to maturity. Filing state tax free Subtract from the result in (1) any qualified stated interest allocable to the accrual period. Filing state tax free Accrual period. Filing state tax free   An accrual period for any OID debt instrument issued after July 1, 1982, and before 1985 is each 1-year period beginning on the date of the issue of the obligation and each anniversary thereafter, or the shorter period to maturity for the last accrual period. Filing state tax free Your tax year will usually include parts of two accrual periods. Filing state tax free Daily OID. Filing state tax free   The OID for any accrual period is allocated equally to each day in the accrual period. Filing state tax free You must include in income the sum of the OID amounts for each day you hold the debt instrument during the year. Filing state tax free If your tax year includes parts of two or more accrual periods, you must include the proper daily OID amounts for each accrual period. Filing state tax free Figuring daily OID. Filing state tax free   The daily OID for the initial accrual period is figured using the following formula. Filing state tax free   (ip × ytm) − qsi     p   ip = issue price ytm = yield to maturity qsi = qualified stated interest p = number of days in accrual period         The daily OID for subsequent accrual periods is figured the same way except the adjusted issue price at the beginning of each period is used in the formula instead of the issue price. Filing state tax free Reduction for acquisition premium on debt instruments purchased before July 19, 1984. Filing state tax free   If you bought the debt instrument at an acquisition premium before July 19, 1984, figure the OID includible in income by reducing the daily OID by the daily acquisition premium. Filing state tax free Figure the daily acquisition premium by dividing the total acquisition premium by the number of days in the period beginning on your purchase date and ending on the day before the date of maturity. Filing state tax free Reduction for acquisition premium on debt instruments purchased after July 18, 1984. Filing state tax free   If you bought the debt instrument at an acquisition premium after July 18, 1984, figure the OID includible in income by reducing the daily OID by the daily acquisition premium. Filing state tax free However, the method of figuring the daily acquisition premium is different from the method described in the preceding discussion. Filing state tax free To figure the daily acquisition premium under this method, multiply the daily OID by the following fraction. Filing state tax free The numerator is the acquisition premium. Filing state tax free The denominator is the total OID remaining for the debt instrument after your purchase date. Filing state tax free Section I-A is available at www. Filing state tax free irs. Filing state tax free gov/pub1212 and clicking the link under Recent Developments. Filing state tax free Using Section I-A to figure accumulated OID. Filing state tax free   If you bought your corporate debt instrument in a calendar year or the subsequent year, you can figure the accumulated OID to the date of purchase by adding the following amounts. Filing state tax free The amount from the “Total OID to January 1, YYYY” column for your debt instrument. Filing state tax free The OID from January 1 of a calendar year to the date of purchase, figured as follows. Filing state tax free Multiply the daily OID for the first accrual period in the calendar year by the number of days from January 1 to the date of purchase, or the end of the accrual period if the debt instrument was purchased in the second or third accrual period. Filing state tax free Multiply the daily OID for each subsequent accrual period by the number of days in the period to the date of purchase or the end of the accrual period, whichever applies. Filing state tax free Add the amounts figured in (2a) and (2b). Filing state tax free Debt Instruments Issued After 1984 If you hold debt instruments issued after 1984, you must report part of the OID in gross income each year that you own the debt instruments. Filing state tax free You must include the OID in gross income whether or not you hold the debt instrument as a capital asset. Filing state tax free Your basis in the debt instrument is increased by the OID you include in income. Filing state tax free For information about showing the correct OID on your tax return, see How To Report OID, earlier. Filing state tax free Form 1099-OID. Filing state tax free   You should receive a Form 1099-OID showing OID for the part of a calendar year you held the debt instrument. Filing state tax free However, if you paid an acquisition premium, you may need to refigure the OID to report on your tax return. Filing state tax free See Constant yield method and Reduction for acquisition premium, later. Filing state tax free   You may also need to refigure the OID for a contingent payment or inflation-indexed debt instrument on which the amount reported on Form 1099-OID is inaccurate. Filing state tax free See Contingent Payment Debt Instruments or Inflation-Indexed Debt Instruments, later. Filing state tax free If you held an OID debt instrument in a calendar year but did not receive a Form 1099-OID, see Form 1099-OID not received, immediately below, and refer to Section I-B available at www. Filing state tax free irs. Filing state tax free gov/pub1212 by clicking the link under Recent Developments. Filing state tax free Form 1099-OID not received. Filing state tax free   The OID listed is for each $1,000 of redemption price. Filing state tax free You must adjust the listed amount if your debt instrument has a different principal amount. Filing state tax free For example, if you have a debt instrument with a $500 principal amount, use one-half the listed amount to figure your OID. Filing state tax free   Use the OID shown in Section I-B for a calendar year if you held the debt instrument the entire year. Filing state tax free (If your debt instrument is not listed in Section I-B, consult the issuer for information about the issue price, the yield to maturity, and the OID that accrued for that year. Filing state tax free ) If you did not hold the debt instrument the entire year, figure your OID as follows. Filing state tax free Look up the daily OID for the first accrual period in which you held the debt instrument during a calendar year. Filing state tax free (See Accrual period under Constant yield method, later. Filing state tax free ) Multiply the daily OID by the number of days you held the debt instrument during that accrual period. Filing state tax free Repeat (1) and (2) for any remaining accrual periods in which you held the debt instrument. Filing state tax free Add the results of (2) and (3). Filing state tax free This is the OID to include in income for that year, unless you paid an acquisition premium. Filing state tax free (The reduction for acquisition premium is discussed later. Filing state tax free ) Tax-exempt bond. Filing state tax free   If you own a tax-exempt bond, figure your basis in the bond by adding to your cost the OID you would have included in income if the bond had been taxable. Filing state tax free You need to make this adjustment to determine if you have a gain or loss on a later disposition of the bond. Filing state tax free In general, use the rules that follow to determine your OID. Filing state tax free Constant yield method. Filing state tax free   This discussion shows how to figure OID on debt instruments issued after 1984 using a constant yield method. Filing state tax free (The special rules that apply to contingent payment debt instruments and inflation-indexed debt instruments are explained later. Filing state tax free ) OID is allocated over the life of the debt instrument through adjustments to the issue price for each accrual period. Filing state tax free   Figure the OID allocable to any accrual period as follows. Filing state tax free Multiply the adjusted issue price at the beginning of the accrual period by a fraction. Filing state tax free The numerator of the fraction is the debt instrument's yield to maturity and the denominator is the number of accrual periods per year. Filing state tax free The yield must be stated appropriately taking into account the length of the particular accrual period. Filing state tax free Subtract from the result in (1) any qualified stated interest allocable to the accrual period. Filing state tax free Accrual period. Filing state tax free   For debt instruments issued after 1984 and before April 4, 1994, an accrual period is each 6-month period that ends on the day that corresponds to the stated maturity date of the debt instrument or the date 6 months before that date. Filing state tax free For example, a debt instrument maturing on March 31 has accrual periods that end on September 30 and March 31 of each calendar year. Filing state tax free Any short period is included as the first accrual period. Filing state tax free   For debt instruments issued after April 3, 1994, accrual periods may be of any length and may vary in length over the term of the debt instrument, as long as each accrual period is no longer than 1 year and all payments are made on the first or last day of an accrual period. Filing state tax free However, the OID listed for these debt instruments in Section I-B has been figured using 6-month accrual periods. Filing state tax free Daily OID. Filing state tax free   The OID for any accrual period is allocated equally to each day in the accrual period. Filing state tax free Figure the amount to include in income by adding the OID for each day you hold the debt instrument during the year. Filing state tax free Since your tax year will usually include parts of two or more accrual periods, you must include the proper daily OID for each accrual period. Filing state tax free If your debt instrument has 6-month accrual periods, your tax year will usually include one full 6-month accrual period and parts of two other 6-month periods. Filing state tax free Figuring daily OID. Filing state tax free   The daily OID for the initial accrual period is figured using the following formula. Filing state tax free   (ip × ytm/n) − qsi     p   ip = issue price ytm = yield to maturity n = number of accrual periods in 1 year qsi = qualified stated interest p = number of days in accrual period       The daily OID for subsequent accrual periods is figured the same way except the adjusted issue price at the beginning of each period is used in the formula instead of the issue price. Filing state tax free Example 5. Filing state tax free On January 1 of Year 1, you bought a 15-year, 10% debt instrument of A Corporation at original issue for $86,235. Filing state tax free 17. Filing state tax free According to the prospectus, the debt instrument matures on December 31 of Year 15 at a stated redemption price of $100,000. Filing state tax free The yield to maturity is 12%, compounded semiannually. Filing state tax free The debt instrument provides for qualified stated interest payments of $5,000 on June 30 and December 31 of each calendar year. Filing state tax free The accrual periods are the 6-month periods ending on each of these dates. Filing state tax free The number of days for the first accrual period (January 1 through June 30) is 181 days (182 for leap years). Filing state tax free The daily OID for the first accrual period is figured as follows. Filing state tax free   ($86,235. Filing state tax free 17 x . Filing state tax free 12/2) – $5,000     181 days     = $174. Filing state tax free 11020 = $. Filing state tax free 96193   181           The adjusted issue price at the beginning of the second accrual period is the issue price plus the OID previously includible in income ($86,235. Filing state tax free 17 + $174. Filing state tax free 11), or $86,409. Filing state tax free 28. Filing state tax free The number of days for the second accrual period (July 1 through December 31) is 184 days. Filing state tax free The daily OID for the second accrual period is figured as follows. Filing state tax free   ($86,409. Filing state tax free 28 x . Filing state tax free 12/2) – $5,000     184 days     = $184. Filing state tax free 55681 = $1. Filing state tax free 00303   184 Since the first and second accrual periods coincide exactly with your tax year, you include in income for Year 1 the OID allocable to the first two accrual periods, $174. Filing state tax free 11 ($. Filing state tax free 95665 × 182 days) plus $184. Filing state tax free 56 ($1. Filing state tax free 00303 × 184 days), or $358. Filing state tax free 67. Filing state tax free Add the OID to the $10,000 interest you report on your income tax return for Year 1. Filing state tax free Example 6. Filing state tax free Assume the same facts as in Example 5, except that you bought the debt instrument at original issue on May 1 of Year 1, with a maturity date of April 30, Year 16. Filing state tax free Also, the interest payment dates are October 31 and April 30 of each calendar year. Filing state tax free The accrual periods are the 6-month periods ending on each of these dates. Filing state tax free The number of days for the first accrual period (May 1 through October 31) is 184 days. Filing state tax free The daily OID for the first accrual period is figured as follows. Filing state tax free   ($86,235. Filing state tax free 17 x . Filing state tax free 12/2) – $5,000     184 days     = $174. Filing state tax free 11020 = $. Filing state tax free 94625   184           The number of days for the second accrual period (November 1 through April 30) is 181 days (182 for leap years). Filing state tax free The daily OID for the second accrual period is figured as follows. Filing state tax free   ($86,409. Filing state tax free 28 x . Filing state tax free 12/2) – $5,000     181 days     = $184. Filing state tax free 55681 = $1. Filing state tax free 01965   181 If you hold the debt instrument through the end of Year 1, you must include $236. Filing state tax free 31 of OID in income. Filing state tax free This is $174. Filing state tax free 11 ($. Filing state tax free 94625 × 184 days) for the period May 1 through October 31 plus $62. Filing state tax free 20 ($1. Filing state tax free 01965 × 61 days) for the period November 1 through December 31. Filing state tax free The OID is added to the $5,000 interest income paid on October 31 of Year 1. Filing state tax free Your basis in the debt instrument is increased by the OID you include in income. Filing state tax free On January 1 of Year 2, your basis in the A Corporation debt instrument is $86,471. Filing state tax free 48 ($86,235. Filing state tax free 17 + $236. Filing state tax free 31). Filing state tax free Short first accrual period. Filing state tax free   You may have to make adjustments if a debt instrument has a short first accrual period. Filing state tax free For example, a debt instrument with 6-month accrual periods that is issued on February 15 and matures on October 31 has a short first accrual period that ends April 30. Filing state tax free (The remaining accrual periods begin on May 1 and November 1. Filing state tax free ) For this short period, figure the daily OID as described earlier, but adjust the yield for the length of the short accrual period. Filing state tax free You may use any reasonable compounding method in determining OID for a short period. Filing state tax free Examples of reasonable compounding methods include continuous compounding and monthly compounding (that is, simple interest within a month). Filing state tax free Consult your tax advisor for more information about making this computation. Filing state tax free   The OID for the final accrual period is the difference between the amount payable at maturity (other than a payment of qualified stated interest) and the adjusted issue price at the beginning of the final accrual period. Filing state tax free Reduction for acquisition premium. Filing state tax free   If you bought the debt instrument at an acquisition premium, figure the OID includible in income by reducing the daily OID by the daily acquisition premium. Filing state tax free To figure the daily acquisition premium, multiply the daily OID by the following fraction. Filing state tax free The numerator is the acquisition premium. Filing state tax free The denominator is the total OID remaining for the debt instrument after your purchase date. Filing state tax free Example 7. Filing state tax free Assume the same facts as in Example 6, except that you bought the debt instrument on November 1 of Year 1 for $87,000, after its original issue on May 1 of Year 1. Filing state tax free The adjusted issue price on November 1 of Year 1 is $86,409. Filing state tax free 28 ($86,235. Filing state tax free 17 + $174. Filing state tax free 11). Filing state tax free In this case, you paid an acquisition premium of $590. Filing state tax free 72 ($87,000 − $86,409. Filing state tax free 28). Filing state tax free The daily OID for the accrual period November 1 through April 30, reduced for the acquisition premium, is figured as follows. Filing state tax free 1) Daily OID on date of purchase (2nd accrual period) $1. Filing state tax free 01965*  2)  Acquisition premium $590. Filing state tax free 72    3)  Total OID remaining after purchase date ($13,764. Filing state tax free 83 − $174. Filing state tax free 11) 13,590. Filing state tax free 72   4) Line 2 ÷ line 3 . Filing state tax free 04346  5)  Line 1 × line 4 . Filing state tax free 04432  6)  Daily OID reduced for the acquisition premium. Filing state tax free Line 1 − line 5 $0. Filing state tax free 97533  * As shown in Example 6. Filing state tax free The total OID to include in income for Year 1 is $59. Filing state tax free 50 ($. Filing state tax free 97533 × 61 days). Filing state tax free Contingent Payment Debt Instruments This discussion shows how to figure OID on a contingent payment debt instrument issued after August 12, 1996, that was issued for cash or publicly traded property. Filing state tax free In general, a contingent payment debt instrument provides for one or more payments that are contingent as to timing or amount. Filing state tax free If you hold a contingent payment bond, you must report OID as it accrues each year. Filing state tax free Because the actual payments on a contingent payment debt instrument cannot be known in advance, issuers and holders cannot use the constant yield method (discussed earlier under Debt Instruments Issued After 1984) without making certain assumptions about the payments on the debt instrument. Filing state tax free To figure OID accruals on contingent payment debt instruments, holders and issuers must use the noncontingent bond method. Filing state tax free Noncontingent bond method. Filing state tax free    Under this method, the issuer must compute a comparable yield for the debt instrument and, based on this yield, construct a projected payment schedule for the instrument, which includes a projected fixed amount for each contingent payment. Filing state tax free In general, holders and issuers accrue OID on this projected payment schedule using the constant yield method that applies to fixed payment debt instruments. Filing state tax free When a contingent payment differs from the projected fixed amount, the holders and issuers make adjustments to their OID accruals. Filing state tax free If the actual contingent payment is larger than expected, both the issuer and the holder increase their OID accruals. Filing state tax free If the actual contingent payment is smaller than expected, holders and issuers generally decrease their OID accruals. Filing state tax free Form 1099-OID. Filing state tax free   The amount shown on Form 1099-OID in box 1 you receive for a contingent payment debt instrument may not be the correct amount to include in income. Filing state tax free For example, the amount may not be correct if the contingent payment was different from the projected amount. Filing state tax free If the amount in box 1 is not correct, you must figure the OID to report on your return under the following rules. Filing state tax free For information on showing an OID adjustment on your tax return, see How To Report OID, earlier. Filing state tax free Figuring OID. Filing state tax free   To figure OID on a contingent payment debt instrument, you need to know the “comparable yield” and “projected payment schedule” of the debt instrument. Filing state tax free The issuer must make these available to you. Filing state tax free Comparable yield. Filing state tax free   The comparable yield generally is the yield at which the issuer would issue a fixed rate debt instrument with terms and conditions similar to those of the contingent payment debt instrument. Filing state tax free The comparable yield is determined as of the debt instrument's issue date. Filing state tax free Projected payment schedule. Filing state tax free   The projected payment schedule for a contingent payment debt instrument includes all fixed payments due under the instrument and a projected fixed amount for each contingent payment. Filing state tax free The projected payment schedule is created by the issuer as of the debt instrument's issue date. Filing state tax free It is used to determine the issuer's and holder's interest accruals and adjustments. Filing state tax free Steps for figuring OID. Filing state tax free   Figure the OID on a contingent payment debt instrument in two steps. Filing state tax free Figure the OID using the constant yield method (discussed earlier under Debt Instruments Issued After 1984 ) that applies to fixed payment debt instruments. Filing state tax free Use the comparable yield as the yield to maturity. Filing state tax free In general, use the projected payment schedule to determine the instrument's adjusted issue price at the beginning of each accrual period (other than the initial period). Filing state tax free Do not treat any amount payable as qualified stated interest. Filing state tax free Adjust the OID in (1) to account for actual contingent payments. Filing state tax free If the contingent payment is greater than the projected fixed amount, you have a positive adjustment. Filing state tax free If the contingent payment is less than the projected fixed amount, you have a negative adjustment. Filing state tax free Net positive adjustment. Filing state tax free   A net positive adjustment exists for a tax year when the total of any positive adjustments described in (2) above for the tax year is more than the total of any negative adjustments for the tax year. Filing state tax free Treat a net positive adjustment as additional OID for the tax year. Filing state tax free Net negative adjustment. Filing state tax free   A net negative adjustment exists for a tax year when the total of any negative adjustments described in (2) above for the tax year is more than the total of any positive adjustments for the tax year. Filing state tax free Use a net negative adjustment to offset OID on the debt instrument for the tax year. Filing state tax free If the net negative adjustment is more than the OID on the debt instrument for the tax year, you can claim the difference as an ordinary loss. Filing state tax free However, the amount you can claim as an ordinary loss is limited to the OID on the debt instrument you included in income in prior tax years. Filing state tax free You must carry forward any net negative adjustment that is more than the total OID for the tax year and prior tax years and treat it as a negative adjustment in the next tax year. Filing state tax free Basis adjustments. Filing state tax free   In general, increase your basis in a contingent payment debt instrument by the OID included in income. Filing state tax free Your basis, however, is not affected by any negative or positive adjustments. Filing state tax free Decrease your basis by any noncontingent payment received and the projected contingent payment scheduled to be received. Filing state tax free Treatment of gain or loss on sale or exchange. Filing state tax free   If you sell a contingent payment debt instrument at a gain, your gain is ordinary income (interest income), even if you hold the debt instrument as a capital asset. Filing state tax free If you sell a contingent payment debt instrument at a loss, your loss is an ordinary loss to the extent of your prior OID accruals on the debt instrument. Filing state tax free If the debt instrument is a capital asset, treat any loss that is more than your prior OID accruals as a capital loss. Filing state tax free See Regulations section 1. Filing state tax free 1275-4 for exceptions to these rules. Filing state tax free Premium, acquisition premium, and market discount. Filing state tax free   The rules for accruing premium, acquisition premium, and market discount do not apply to a contingent payment debt instrument. Filing state tax free See Regulations section 1. Filing state tax free 1275-4 to determine how to account for these items. Filing state tax free Inflation-Indexed Debt Instruments This discussion shows how you figure OID on certain inflation-indexed debt instruments issued after January 5, 1997. Filing state tax free An inflation-indexed debt instrument is generally a debt instrument on which the payments are adjusted for inflation and d
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Filing state tax free 21. Filing state tax free   Gastos Médicos y Dentales Table of Contents Qué Hay de Nuevo Introduction Useful Items - You may want to see: ¿Qué Son Gastos Médicos? ¿Qué Gastos Puede Incluir Este Año?Estados donde rige la ley de los bienes gananciales. Filing state tax free ¿Qué Cantidad de los Gastos Puede Deducir? ¿De Qué Personas Puede Incluir Gastos Médicos?Usted Cónyuge Dependiente Difuntos ¿Qué Gastos Médicos se Pueden Incluir?Primas de Seguros Comidas y Alojamiento Transporte Gastos del Cuidado de un Dependiente Incapacitado ¿Cómo se Tratan los Reembolsos?Reembolso de Seguros Indemnizaciones por Lesiones Personales Cómo Calcular y Reclamar la Deducción en su Declaración de Impuestos¿Qué Formulario Debe Usar para la Declaración? Gastos de Trabajo Relacionados con un Impedimento Costos del Seguro Médico para Personas que Trabajan por Cuenta Propia Qué Hay de Nuevo Gastos médicos y dentales. Filing state tax free  Comenzando el 1 de enero de 2013, usted puede deducir sólo la parte de sus gastos médicos y dentales que exceda del 10% de su ingreso bruto ajustado (AGI, por sus siglas en inglés) (7. Filing state tax free 5% si usted o su cónyuge tiene 65 años de edad o más). Filing state tax free Tarifa estándar por milla. Filing state tax free  La tarifa estándar por milla permitida para gastos de operación de un automóvil cuando se usa por razones médicas es 24 centavos por milla. Filing state tax free Vea Transporte bajo ¿Qué Gastos Médicos se Pueden Incluir?, más adelante. Filing state tax free Introduction Este capítulo le ayudará a determinar: Qué son gastos médicos. Filing state tax free Qué gastos puede incluir este año. Filing state tax free Qué cantidad de los gastos puede deducir. Filing state tax free De qué personas puede incluir gastos médicos. Filing state tax free Qué gastos médicos se pueden incluir. Filing state tax free Cómo tratar los reembolsos. Filing state tax free Cómo declarar la deducción en la declaración de impuestos. Filing state tax free Cómo declarar gastos de trabajo relacionados con la incapacidad. Filing state tax free Cómo declarar los costos del seguro médico si trabaja por cuenta propia. Filing state tax free Useful Items - You may want to see: Publicaciones 502 Medical and Dental Expenses (Gastos médicos y dentales), en inglés 969 Health Savings Accounts and Other Tax-Favored Health Plans (Cuentas de ahorros para gastos médicos y otros planes para gastos médicos con beneficios tributarios), en inglés Formularios (e Instrucciones) Anexo A (Formulario 1040) Itemized Deductions (Deducciones detalladas), en inglés ¿Qué Son Gastos Médicos? Los gastos médicos incluyen pagos por diagnóstico, cura, alivio, tratamiento o prevención de enfermedades o por tratamientos que afecten alguna parte o función del cuerpo. Filing state tax free Estos gastos abarcan los pagos por servicios médicos legales prestados por médicos, cirujanos, dentistas y otros profesionales de la salud. Filing state tax free Incluyen los costos de equipo, suministros y dispositivos de diagnósticos que se necesiten para estos propósitos. Filing state tax free Los gastos de cuidados médicos tienen que ser principalmente para aliviar o prevenir un defecto o enfermedad física o mental. Filing state tax free No incluya gastos que sean tan sólo beneficiosos para la salud en general, como vitaminas o vacaciones. Filing state tax free Los gastos médicos incluyen las primas pagadas por un seguro que cubra los gastos de cuidados médicos y las cantidades pagadas por transporte para recibir cuidados médicos. Filing state tax free Los gastos médicos también incluyen cantidades pagadas por servicios calificados de cuidados a largo plazo y cantidades limitadas pagadas por cualquier contrato de cuidados a largo plazo calificado. Filing state tax free ¿Qué Gastos Puede Incluir Este Año? Puede incluir sólo los gastos médicos y dentales que pagó este año, independientemente de cuándo se proveyeron los servicios. Filing state tax free Si paga gastos médicos por cheque, el día en que envíe o entregue el cheque suele ser la fecha de pago. Filing state tax free Si paga sus gastos médicos por medio de una “cuenta a pagar por teléfono” o Internet, la fecha indicada en el estado de cuentas de la institución financiera que señala cuándo se hizo el pago se considera la fecha de pago. Filing state tax free Si utiliza una tarjeta de crédito, incluya los gastos médicos que cargue a su tarjeta de crédito en el año en que se haga el cargo, no en el que de hecho pague el monto cargado a su tarjeta de crédito. Filing state tax free Declaraciones por separado. Filing state tax free   Si usted y su cónyuge viven en un estado donde no rigen las leyes de los bienes gananciales y presentan declaraciones por separado, cada uno de ustedes puede incluir sólo los gastos médicos que cada uno de hecho pagó. Filing state tax free Todos los gastos médicos pagados de una cuenta corriente conjunta en la cual son dueños por igual usted y su cónyuge se consideran pagados equitativamente por cada uno de ustedes, a menos que pueda demostrar lo contrario. Filing state tax free Estados donde rige la ley de los bienes gananciales. Filing state tax free   Si usted y su cónyuge viven en un estado donde rigen las leyes de los bienes gananciales y presentan declaraciones por separado o están inscritos como parejas de hecho en Nevada, Washington o California, todos los gastos médicos pagados de fondos de la comunidad conyugal se dividen por igual. Filing state tax free Cada uno de ustedes debería incluir la mitad de los gastos. Filing state tax free Si los gastos médicos se pagan de los fondos separados de un cónyuge, sólo el cónyuge que pagó los gastos médicos puede incluirlos. Filing state tax free Si usted vive en un estado donde rigen las leyes de los bienes gananciales, y no presenta una declaración conjunta, vea la Publicación 555, Community Property (Bienes gananciales), en inglés. Filing state tax free ¿Qué Cantidad de los Gastos Puede Deducir? Por lo general, puede deducir en el Anexo A (Formulario 1040) sólo la cantidad de sus gastos médicos y dentales que exceda del 10% (7. Filing state tax free 5% si usted o su cónyuge tiene 65 años de edad o más) de su ingreso bruto ajustado (AGI, por sus siglas en inglés) (línea 38 del Formulario 1040). Filing state tax free Ejemplo. Filing state tax free Usted no está casado, es menor de 65 años de edad y su ingreso bruto ajustado es $40,000. Filing state tax free El 10% de esa cantidad es $4,000. Filing state tax free Usted pagó gastos médicos de $2,500. Filing state tax free No puede deducir ningunos de sus gastos médicos porque éstos no son mayores que el 10% de su ingreso bruto ajustado. Filing state tax free ¿De Qué Personas Puede Incluir Gastos Médicos? Normalmente, puede incluir gastos médicos que pagó por usted mismo o por alguien que fuera su cónyuge o su dependiente cuando se proporcionaron los servicios o cuando usted los pagó. Filing state tax free Hay reglas distintas para personas fallecidas y personas nombradas en acuerdos de manutención múltiple. Filing state tax free Vea Manutención reclamada conforme a un acuerdo de manutención múltiple , más adelante. Filing state tax free Usted Puede incluir los gastos médicos que pagó por usted mismo. Filing state tax free Cónyuge Puede incluir los gastos médicos que pagó por su cónyuge. Filing state tax free Para incluir estos gastos, tiene que haber estado casado en el momento en que su cónyuge recibió los servicios médicos o en el momento en que usted los pagó. Filing state tax free Ejemplo 1. Filing state tax free María recibió tratamiento médico antes de casarse con Guillermo. Filing state tax free Guillermo pagó por el tratamiento después de casarse. Filing state tax free Guillermo puede incluir estos gastos al calcular su deducción por gastos médicos aunque Guillermo y María presenten declaraciones separadas. Filing state tax free Si María hubiera pagado los gastos, Guillermo no podría incluir los gastos de María en la declaración separada de él. Filing state tax free María incluiría las cantidades que ella pagó a lo largo del año en su declaración separada. Filing state tax free Si presentaran una declaración conjunta, los gastos médicos que ambos pagaron a lo largo del año se usarían para calcular la deducción de gastos médicos de ambos. Filing state tax free Ejemplo 2. Filing state tax free Este año, Juan pagó gastos médicos por su cónyuge Luisa, la cual murió el año pasado. Filing state tax free Juan se casó con Beatriz este año y presentan una declaración conjunta. Filing state tax free Debido a que Juan estaba casado con Luisa cuando ella recibió los servicios médicos, puede incluir esos gastos al calcular su deducción por gastos médicos correspondiente a este año. Filing state tax free Dependiente Puede incluir los gastos médicos que pagó por su dependiente. Filing state tax free Para incluir estos gastos, la persona tiene que haber sido su dependiente en el momento en que se proveyeron los servicios médicos o en el momento en que usted pagó los gastos. Filing state tax free Generalmente, una persona puede considerarse su dependiente para propósitos de la deducción de gastos médicos si se cumplen los dos requisitos siguientes: La persona era hijo calificado (definido más adelante) o pariente calificado (definido más adelante) y La persona era ciudadana o nacional de los Estados Unidos o era residente de los Estados Unidos, Canadá o México. Filing state tax free Si su hijo calificado fue adoptado, vea el tema que se presenta a continuación, Excepción por hijo adoptivo . Filing state tax free Puede incluir los gastos médicos que pagó a nombre de una persona que hubiera sido su dependiente, salvo que: Dicha persona recibió ingresos brutos de $3,900 o más en 2013, Dicha persona presentó una declaración conjunta para el año 2013 o Usted, o su cónyuge si presentan una declaración conjunta, puede ser reclamado como dependiente en la declaración de 2013 de otra persona. Filing state tax free Excepción por hijo adoptivo. Filing state tax free   Si usted es ciudadano o nacional estadounidense y su hijo adoptivo vivió con usted como miembro de su unidad familiar durante el año 2013, dicho hijo no tiene que ser ciudadano o nacional estadounidense ni ser residente de los Estados Unidos, Canadá o México. Filing state tax free Hijo Calificado Un hijo calificado es un hijo que: Es su hijo o hija, hijastro o hijastra, hijo de crianza, hermano o hermana, hermanastro o hermanastra, medio hermano o media hermana o descendiente de cualquiera de ellos (por ejemplo, su nieto, sobrino o sobrina), Tenía: Menos de 19 años de edad al final del año 2013 y era menor que usted (o su cónyuge, si presenta una declaración conjunta), Menos de 24 años de edad al final del año 2013, era estudiante de tiempo completo y menor que usted (o su cónyuge, si presenta una declaración conjunta) o Cualquier edad y estaba total y permanentemente incapacitado, Vivió con usted por más de la mitad del año 2013, No proveyó más de la mitad de su propia manutención durante el año 2013 y No presentó una declaración conjunta, a menos que la haya presentado únicamente para reclamar un reembolso. Filing state tax free Hijo adoptivo. Filing state tax free   Un hijo legalmente adoptado se considera su propio hijo. Filing state tax free Esto incluye a un hijo colocado legalmente bajo su cargo para adopción legal. Filing state tax free   Puede incluir los gastos médicos que pagó por un hijo antes de la adopción si el hijo reunía los requisitos para ser su dependiente cuando se proveyeron los servicios médicos o cuando se pagaron los gastos. Filing state tax free   Si reintegra a una agencia de adopciones o a otras personas los gastos médicos que ellas pagaron bajo un acuerdo con usted, es como si usted hubiera pagado dichos gastos con tal de que demuestre claramente que el pago es directamente atribuible al cuidado médico del hijo. Filing state tax free   Pero si usted paga a la agencia o a otra persona el cuidado médico que fue provisto y pagado antes de que empezaran las negociaciones de adopción, no los puede incluir como gastos médicos. Filing state tax free    Tal vez pueda tomar un crédito por otros gastos relacionados con la adopción. Filing state tax free Vea las Instrucciones para el Formulario 8839, Qualified Adoption Expenses (Gastos calificados de adopciones), en inglés, para más información. Filing state tax free Hijo de padres divorciados o separados. Filing state tax free   Para propósitos de la deducción de gastos médicos y dentales, un hijo de padres divorciados o separados puede considerarse dependiente de ambos padres. Filing state tax free Cada padre puede incluir los gastos médicos que él o ella pague por el hijo, aunque el otro padre declare la exención de dependencia del hijo, si: El hijo queda bajo la custodia de uno o ambos padres por más de la mitad del año, El hijo recibe más de la mitad de su manutención durante el año de sus padres y Los padres del hijo: Están divorciados o legalmente separados bajo un fallo de divorcio o de manutención por separación judicial, Están separados bajo un acuerdo de separación judicial escrito o Viven separados en todo momento durante los últimos 6 meses del año. Filing state tax free Esto no corresponde si la exención del hijo se reclama conforme a un acuerdo de manutención múltiple (explicado más adelante). Filing state tax free Pariente Calificado Un pariente calificado es una persona: Que es su: Hijo o hija, hijastro o hijastra, hijo de crianza o descendiente de cualquiera de ellos (por ejemplo, su nieto), Hermano o hermana, medio hermano o media hermana o un hijo de cualquiera de ellos, Padre, madre o antecesor o hermano o hermana de cualquiera de ellos (por ejemplo, su abuelo o abuela, o tío o tía), Hermanastro o hermanastra, padrastro, madrastra, yerno, nuera, suegro o suegra, cuñado o cuñada o Cualquier otra persona (que no sea su cónyuge) que haya vivido con usted durante todo el año como integrante de su unidad familiar si su relación no violó la ley local, Quien no era hijo calificado (vea Hijo Calificado , anteriormente) de cualquier otra persona para el año 2013 y Para la cual usted proveyó más de la mitad de la manutención del año 2013. Filing state tax free Pero vea Hijo de padres divorciados o separados , anteriormente, y Manutención reclamada conforme a un acuerdo de manutención múltiple, que aparece a continuación. Filing state tax free Manutención reclamada conforme a un acuerdo de manutención múltiple. Filing state tax free   Si se considera que usted proveyó más de la mitad de la manutención de un pariente conforme a un acuerdo de manutención múltiple, puede incluir los gastos médicos que pague por dicho pariente. Filing state tax free El acuerdo de manutención múltiple se usa cuando dos o más personas proveen más de la mitad de la manutención de una persona, pero ninguna persona sola provee más de la mitad. Filing state tax free   Todos los demás gastos médicos pagados por otras personas que firmaron con usted el acuerdo no pueden ser incluidos como gastos médicos por nadie. Filing state tax free Sin embargo, usted puede incluir la totalidad de la cantidad no reembolsada que usted pagó por concepto de gastos médicos. Filing state tax free Ejemplo. Filing state tax free Usted y sus tres hermanos proveen cada uno una cuarta parte del total de la manutención de su madre. Filing state tax free Conforme a un acuerdo de manutención múltiple, usted declara a su madre como su dependiente. Filing state tax free Usted pagó todos sus gastos médicos. Filing state tax free Sus hermanos le reembolsaron a usted las tres cuartas partes de dichos gastos. Filing state tax free Al calcular su deducción de gastos médicos, usted puede incluir sólo una cuarta parte de los gastos médicos de su madre. Filing state tax free Sus hermanos no pueden incluir ninguna parte de los gastos. Filing state tax free Sin embargo, si usted y sus hermanos comparten los gastos que no sean de manutención médica y usted paga por separado todos los gastos médicos de su madre, usted puede incluir la cantidad no reembolsada que pagó por concepto de gastos médicos en los gastos médicos de usted. Filing state tax free Difuntos Los gastos médicos que fueron pagados por el difunto antes de que falleciera se incluyen al calcular las deducciones por gastos médicos y dentales en la declaración de impuestos final sobre el ingreso del difunto. Filing state tax free Esto incluye gastos tanto para el cónyuge y los dependientes del difunto como para el mismo difunto. Filing state tax free El sobreviviente o representante personal de un difunto puede optar por tratar ciertos gastos médicos del difunto pagados por el caudal hereditario del mismo como si hubieran sido pagados por el difunto en el momento en que se le proveyeron los servicios médicos. Filing state tax free Los gastos se tienen que pagar dentro del plazo de 1 año a partir del día siguiente al día del fallecimiento. Filing state tax free Si usted es el sobreviviente o representante personal que elige esta opción, tendrá que adjuntar un documento escrito al Formulario 1040 del difunto (o la declaración enmendada del difunto, Formulario 1040X) explicando que los gastos no han sido y no serán declarados en la declaración del impuesto del caudal hereditario. Filing state tax free Los gastos médicos calificados que el difunto pagó antes de su muerte no son deducibles si fueron pagados por medio de una distribución exenta de impuestos proveniente de una cuenta Archer MSA de ahorros médicos, cuenta Medicare Advantage MSA u otra cuenta de ahorros para gastos médicos. Filing state tax free Las declaraciones enmendadas y reclamaciones de reembolsos se explican en el capítulo 1 . Filing state tax free ¿Y si usted paga gastos médicos de un cónyuge fallecido o un dependiente fallecido?   Si usted pagó gastos médicos para su cónyuge o dependiente fallecido, inclúyalos como gastos médicos en su Formulario 1040 en el año en que fueron pagados, independientemente de si se pagan antes o después de la muerte del difunto. Filing state tax free Los gastos pueden ser incluidos si la persona era su cónyuge o dependiente en el momento en que se proveyeron los servicios médicos o en el momento en que usted pagó los gastos. Filing state tax free ¿Qué Gastos Médicos se Pueden Incluir? Use la Tabla 21-1, anteriormente, como guía para determinar qué gastos médicos y dentales puede incluir en el Anexo A (Formulario 1040). Filing state tax free Esta tabla no abarca todos los gastos médicos en los que se puede incurrir. Filing state tax free Para determinar si un gasto no indicado en la tabla se puede incluir en el cálculo de la deducción por gastos médicos, vea la sección ¿Qué Son Gastos Médicos? , anteriormente. Filing state tax free Tabla 21-1. Filing state tax free Lista de Gastos Médicos y Dentales. Filing state tax free Vea la Publicación 502 para más información sobre estos gastos, entre otros. Filing state tax free Puede incluir: No puede incluir: Vendas Píldoras anticonceptivas recetadas por su médico Escaneo electrónico del cuerpo Libros en Braille Extractor de leche materna (sacaleches) y suministros relacionados Gastos de capital para equipo o mejoras a su vivienda que se necesitan para el cuidado médico (vea la hoja de trabajo de la Publicación 502, en inglés) Dispositivos de diagnóstico Gastos de un donante de órganos Cirugía ocular —para promover el funcionamiento correcto del ojo Ciertos procedimientos para aumentar la fertilidad Perros guía u otros animales de ayuda para personas ciegas, sordas o incapacitadas Cargos por servicios hospitalarios (pruebas de laboratorio, terapia, servicios de enfermería, cirugía, etc. Filing state tax free ) Eliminación de pintura a base de plomo Aborto legal Operación legal para evitar tener niños tal como una vasectomía o ligadura de trompas Contratos calificados del cuidado a largo plazo Comidas y alojamiento provistos por un hospital durante un tratamiento médico Cargos por servicios médicos (de médicos, dentistas, cirujanos, especialistas y otros profesionales médicos) Primas de la Parte D de Medicare Primas de seguros médicos y hospitalarios Servicios de enfermería Equipo de oxígeno y oxígeno Parte del cargo por cuidados de vida pagados a un hogar de ancianos designado para cuidados médicos Exámen físico Paquete para pruebas de embarazo Medicamentos recetados (por un médico) e insulina Tratamiento siquiátrico y sicológico Impuesto al Seguro Social, Impuesto al Medicare, prestaciones por desempleo (FUTA) e impuesto estatal sobre el salario de un trabajador que provee cuidados médicos (vea Salarios por servicios de enfermería, más adelante) Artículos especiales (piernas y brazos artificiales, dientes postizos, lentes (espejuelos), lentes de contacto, audífonos, muletas, sillas de ruedas, etc. Filing state tax free ) Educación especial para personas mental o físicamente incapacitadas Programas para dejar de fumar Transporte para cuidados médicos necesarios Tratamiento en un centro de rehabilitación para la adicción a drogas o alcohol (incluye las comidas y el alojamiento provistos por el centro) Salarios por servicios de enfermería Reducción de peso, ciertos gastos relacionados con la obesidad Cuidado infantil Agua embotellada Aportaciones hechas a una cuenta Archer MSA de ahorros médicos (vea la Publicación 969, en inglés) Servicio de pañales Gastos por concepto de su salud en general (aunque usted esté siguiendo los consejos de su médico) tales como: —La cuota de un club deportivo —Ayuda doméstica (incluso si es por recomendación de un médico) —Actividades sociales, tales como cursos de baile o de natación —Viaje para la mejora general de la salud Reembolsos de una cuenta para gastos médicos flexible (flexible spending account) (si las aportaciones fueron hechas antes de impuestos) Gastos de funeral, sepelio o cremación Pagos hechos a cuentas de ahorros para gastos médicos Operación, tratamiento o medicamento ilegal Pólizas de seguro de vida o de protección de ingresos, ni pólizas que proporcionen pagos en caso de pérdida de la vida, una extremidad, la vista, etc. Filing state tax free Ropa de maternidad Seguro médico incluido en una póliza de seguro de automóvil que cubra a todas las personas lesionadas en el automóvil o por el mismo Medicamentos que usted compre sin receta Cuidado de enfermería para un bebé que tenga buena salud Medicamentos recetados que usted trajo (o pidió por envío) de otro país, en la mayoría de los casos Suplementos nutritivos, vitaminas, suplementos a base de hierbas, “medicinas naturales”, etc. Filing state tax free , a menos que sean recomendados por un profesional médico como tratamiento para un padecimiento médico específico que haya sido diagnosticado por un médico Cirugía para propósitos puramente cosméticos Pasta de dientes, artículos de tocador, cosméticos, etc. Filing state tax free Blanqueamiento de dientes Gastos de reducción de peso que no sean para el tratamiento de la obesidad u otra enfermedad Primas de Seguros Puede incluir en los gastos médicos las primas que pague por pólizas de seguros que cubran los cuidados médicos. Filing state tax free Las pólizas de cuidados médicos pueden pagar por tratamientos que abarcan: Hospitalización, servicios de cirugía, radiografías, Medicamentos recetados e insulina, Cuidado dental, Reemplazo de lentes de contacto perdidos o dañados o Cuidados a largo plazo (sujetos a limitaciones adicionales). Filing state tax free Vea Qualified Long-Term Care Insurance Contracts (Contratos de seguro de cuidados a largo plazo calificados) en la Publicación 502, en inglés. Filing state tax free Si tiene una póliza que pague por cuidados que no sean médicos, puede incluir las primas por la parte de la póliza que corresponda a los cuidados médicos si el cargo por esta parte es razonable. Filing state tax free El costo de la parte médica se tiene que indicar por separado en el contrato del seguro o se le tiene que entregar a usted en un estado de cuentas por separado. Filing state tax free Nota: Al calcular la cantidad de primas de seguros que puede incluir en los gastos médicos en el Anexo A, no incluya ningún pago adelantado del crédito tributario por cobertura del seguro médico que aparezca en el recuadro 1 del Formulario 1099-H, Health Coverage Tax Credit (HCTC) Advance Payments (Pagos adelantados del crédito tributario por cobertura de seguro médico (HCTC, por sus siglas en inglés)). Filing state tax free Además, no incluya las primas de seguro que corresponden a un hijo no dependiente menor de 27 años de edad si sus primas aumentaron como resultado de incluir a este hijo en su póliza. Filing state tax free Plan de seguro médico provisto por el empleador. Filing state tax free   No incluya en sus gastos médicos y dentales ninguna prima de seguro pagada por un plan de seguro médico provisto por el empleador a menos que las primas se incluyan en el recuadro 1 del Formulario W-2. Filing state tax free Además, no incluya ningún otro gasto médico o dental pagado por dicho plan a menos que la cantidad pagada se incluya en el recuadro 1 del Formulario W-2. Filing state tax free Ejemplo. Filing state tax free Usted es empleado federal que participa en el plan de conversión de primas del programa de Federal Employee Health Benefits o FEHB, por sus siglas en inglés (Beneficios de salud para empleados federales). Filing state tax free Su parte de la prima del FEHB se paga mediante una reducción de su salario antes de imponerle impuestos. Filing state tax free Como usted es un empleado cuyas primas de seguro se pagan con dinero que nunca se incluye en sus ingresos brutos, no puede deducir las primas que fueron pagadas con dicho dinero. Filing state tax free Servicios de cuidado a largo plazo. Filing state tax free   Las aportaciones hechas por su empleador para proveer cobertura por servicios de cuidados a largo plazo calificados bajo una cuenta para gastos médicos flexible, o cuenta similar, tienen que ser incluidas en sus ingresos. Filing state tax free Esta cantidad será declarada como salario en el recuadro 1 del Formulario W-2. Filing state tax free Plan de reembolso de gastos médicos. Filing state tax free   Si tiene gastos médicos que son reembolsados por un plan de reembolso de gastos médicos (HRA, por sus siglas en inglés), no puede incluirlos en sus gastos médicos. Filing state tax free Esto se debe a que un HRA es financiado únicamente por el empleador. Filing state tax free Funcionarios jubilados del sector de seguridad pública. Filing state tax free   Si usted es funcionario jubilado de seguridad pública, no incluya como gastos médicos ninguna prima de un seguro médico o de cuidados a largo plazo si eligió que dicha prima se pagara con distribuciones exentas de impuestos procedentes de su plan de jubilación. Filing state tax free Esto corresponde solamente a distribuciones que de otro modo se incluirían en los ingresos. Filing state tax free Medicare A. Filing state tax free   Si está cubierto bajo el Seguro Social (o si es empleado del gobierno que pagó el impuesto del Medicare), está inscrito en el Medicare A. Filing state tax free El impuesto sobre la nómina pagado para el Medicare A no es gasto médico. Filing state tax free   Si no está cubierto bajo el Seguro Social (o si no es empleado del gobierno que pagó el impuesto del Medicare), puede inscribirse voluntariamente en el Medicare A. Filing state tax free En esta situación, puede incluir las primas pagadas por concepto de Medicare A como gasto médico. Filing state tax free Medicare B. Filing state tax free    Medicare B es un seguro médico suplementario. Filing state tax free Las primas que paga por concepto del Medicare B son un gasto médico. Filing state tax free Verifique la información que recibió de la Administración del Seguro Social para averiguar la prima correspondiente. Filing state tax free Medicare D. Filing state tax free    Medicare D es un programa voluntario de seguro para medicamentos recetados dirigido a personas con Medicare A o B. Filing state tax free Puede incluir las primas que pague por el Medicare D como un gasto médico. Filing state tax free Primas de seguros pagadas por adelantado. Filing state tax free   Las primas que pague antes de cumplir 65 años de edad por seguros de cuidados médicos a nombre de usted, su cónyuge o sus dependientes después de que usted alcance la edad de 65 años son gastos de cuidados médicos en el año en que se pagan si son: Pagaderas en plazos anuales fijos, o plazos más frecuentes y Pagaderas por al menos 10 años, o hasta que cumpla 65 años de edad (pero no por menos de 5 años). Filing state tax free Licencia por enfermedad sin usar para pagar primas. Filing state tax free   Tiene que incluir en los ingresos brutos los pagos en efectivo que reciba a la fecha de jubilarse por licencia de enfermedad que no haya usado. Filing state tax free También tiene que incluir en los ingresos brutos el valor de la licencia sin usar que, según usted elija, su empleador utiliza para cubrir el costo de su participación continuada en el plan de salud del empleador después de jubilarse. Filing state tax free Puede incluir este costo de participación continuada en el plan médico como gasto médico. Filing state tax free   Si participa en un plan de salud en el que su empleador utiliza automáticamente el valor de la licencia por enfermedad sin usar para cubrir el costo de su participación continuada en el plan de salud (y usted no tiene la opción de recibir dinero en efectivo), no incluya el valor de la licencia por enfermedad sin usar en los ingresos brutos. Filing state tax free No puede incluir este costo de su participación continuada en dicho plan de salud como gasto médico. Filing state tax free Comidas y Alojamiento Puede incluir en los gastos médicos el costo de comidas y alojamiento en un hospital o institución parecida si el motivo principal para estar allí es recibir cuidados médicos. Filing state tax free Vea Hogar de ancianos y de convalecencia , más adelante. Filing state tax free Tal vez pueda incluir en los gastos médicos el costo de alojamiento que no sea en un hospital o institución semejante. Filing state tax free Puede incluir el costo de tal alojamiento mientras esté lejos de su casa si se reúnen todos los siguientes requisitos: El alojamiento es principal y esencialmente para fines de cuidado médico. Filing state tax free El cuidado médico lo provee un médico de un hospital autorizado o de un centro médico asociado con un hospital autorizado o equivalente al mismo. Filing state tax free El alojamiento no es lujoso ni extravagante, dadas las circunstancias. Filing state tax free El placer personal, el recreo o las vacaciones no son factores significativos de la estadía fuera de su hogar. Filing state tax free La cantidad que incluya en los gastos médicos por concepto de alojamiento no puede ser mayor de $50 por cada noche por persona. Filing state tax free Puede incluir el alojamiento para una persona que viaje con la persona que recibe el cuidado médico. Filing state tax free Por ejemplo, si un padre o una madre viaja con un hijo enfermo, se pueden incluir hasta $100 por noche como gasto médico por alojamiento. Filing state tax free No se incluyen comidas. Filing state tax free Hogar de ancianos y de convalecencia. Filing state tax free   Puede incluir en los gastos médicos el costo del cuidado médico en un hogar de ancianos y de convalecencia, residencia de ancianos o un centro similar para usted, su cónyuge o sus dependientes. Filing state tax free Esto incluye el costo de comidas y alojamiento en el hogar o residencia si un motivo principal para estar allí es recibir cuidado médico. Filing state tax free   No incluya el costo de comidas y alojamiento si el motivo para estar en el hogar o residencia es personal. Filing state tax free Puede, sin embargo, incluir en los gastos médicos la parte del costo que corresponda al cuidado médico o de convalecencia. Filing state tax free Transporte Incluya en los gastos médicos cantidades pagadas por transporte si es principal y esencialmente para fines de cuidados médicos. Filing state tax free Puede incluir: Tarifas de autobús, taxi, tren o avión o servicios de ambulancia, Gastos de transporte de un padre o una madre que tiene que acompañar a un hijo que necesita cuidado médico, Gastos de transporte de una enfermera u otra persona que pueda poner inyecciones, suministrar medicamentos u otro tratamiento necesario para un paciente que viaje para recibir cuidado médico y que no pueda viajar solo y Gastos de transporte por visitas regulares a un dependiente que tenga una enfermedad mental, si dichas visitas son recomendadas como parte de su tratamiento. Filing state tax free Gastos de automóvil. Filing state tax free   Puede incluir gastos de bolsillo, tal como el costo de gasolina y aceite, cuando use su automóvil por razones médicas. Filing state tax free No puede incluir depreciación, seguro, reparaciones generales ni gastos de mantenimiento. Filing state tax free   Si no desea usar los gastos reales para el año 2013, puede usar una tarifa estándar de 24 centavos. Filing state tax free    También, puede incluir cargos por estacionamiento y peaje. Filing state tax free Puede añadir estos cargos a sus gastos médicos independientemente de si usa los gastos reales o la tarifa estándar por milla. Filing state tax free Ejemplo. Filing state tax free En 2013, Guillermo Martínez manejó 2,800 millas por razones médicas. Filing state tax free Gastó $500 en gasolina, $30 en aceite y $100 en peajes y estacionamiento. Filing state tax free Quiere calcular la cantidad que puede incluir en gastos médicos de ambas maneras para ver cuál de las dos le da la mayor deducción. Filing state tax free Calcula primero los gastos reales. Filing state tax free Suma los $500 por gasolina, $30 por aceite y $100 por peaje y estacionamiento, lo que da un total de $630. Filing state tax free Luego, Guillermo calcula la cantidad de la tarifa estándar por milla. Filing state tax free Multiplica las 2,800 millas por 24 centavos por milla y llega a un total de $672. Filing state tax free Luego, añade los $100 por peaje y estacionamiento, lo que da un total de $772. Filing state tax free Guillermo incluye los gastos de automóvil de $772 con sus demás gastos médicos para el año, ya que $772 es más que los $630 que calculó usando sus gastos reales. Filing state tax free Gastos de transporte que no puede incluir. Filing state tax free   No puede incluir en los gastos médicos el costo de los gastos de transporte en las siguientes situaciones: Ida y vuelta del trabajo, aun si su condición exije un medio de transporte poco común. Filing state tax free Viajes por motivos puramente personales a otra ciudad para una operación u otros cuidados médicos. Filing state tax free Viajes que son únicamente para mejorar la salud en general. Filing state tax free Los costos de operar un automóvil especialmente equipado por motivos que no sean médicos. Filing state tax free Gastos del Cuidado de un Dependiente Incapacitado Algunos gastos de cuidado de un dependiente incapacitado podrían reunir los requisitos para ser: Gastos médicos o Gastos relacionados con el empleo para reclamar un crédito por el cuidado de dependientes. Filing state tax free (Vea el capítulo 32 y la Publicación 503, Child and Dependent Care Expenses (Gastos del cuidado de menores y dependientes), en inglés). Filing state tax free Puede escoger aplicarlos de una u otra manera siempre que no use los mismos gastos para reclamar tanto un crédito como una deducción por gastos médicos. Filing state tax free ¿Cómo se Tratan los Reembolsos? Puede incluir en los gastos médicos únicamente las cantidades pagadas durante el año tributario para las cuales no recibió ningún reembolso de seguros ni de otro tipo. Filing state tax free Reembolso de Seguros Tiene que deducir del total de sus gastos médicos incurridos durante el año todos los reembolsos de gastos médicos que reciba de seguros u otras fuentes a lo largo del año. Filing state tax free Esto incluye los pagos de Medicare. Filing state tax free Aun si una póliza provee reembolso sólo por ciertos gastos médicos específicos, tiene que restar las cantidades que reciba de esa póliza del total de sus gastos médicos, incluyendo aquéllos que dicha póliza no reembolsa. Filing state tax free Ejemplo. Filing state tax free Usted tiene pólizas de seguros que cubren sus facturas de hospital y de médicos pero no sus facturas de cuidados de enfermería. Filing state tax free El pago que recibe del seguro para cubrir las facturas del hospital y de médico es superior a lo que le cobraron. Filing state tax free Al calcular su deducción médica, tiene que deducir de la cantidad total que gastó en cuidados médicos la cantidad total que recibió del seguro aun si las pólizas no cubren algunos de sus gastos médicos. Filing state tax free Plan (arreglo) de reembolso de gastos médicos. Filing state tax free   Un plan (arreglo) de reembolsos médicos (HRA, por sus siglas en inglés) es un plan establecido con fondos del empleador que reembolsa gastos de cuidados médicos a los empleados y permite trasladar al año siguiente cantidades no usadas. Filing state tax free Un plan HRA es financiado sólo por el empleador y los reembolsos por gastos médicos (hasta una cantidad máxima de dinero por período de cobertura) no se incluyen en sus ingresos. Filing state tax free Otros reembolsos. Filing state tax free   Por lo general, no se deduce de los gastos médicos la cantidad de los pagos que recibe por concepto de: La pérdida permanente o la pérdida del uso de un miembro o función del cuerpo (pérdida de una extremidad, vista, oído, etc. Filing state tax free ) o la desfiguración, siempre y cuando el pago se base en la naturaleza de la lesión, independientemente de cuánto tiempo esté ausente del trabajo o La pérdida de ingresos. Filing state tax free   Sin embargo, tiene que deducir de sus gastos médicos la parte de esos pagos que esté destinada a costos médicos. Filing state tax free Vea Cómo Calcular y Reclamar la Deducción en su Declaración de Impuestos , más adelante. Filing state tax free   Para saber cómo tratar las indemnizaciones recibidas por lesiones personales o enfermedad, vea Indemnizaciones por Lesiones Personales , más adelante. Filing state tax free No tiene una deducción médica si se le reembolsan todos sus gastos médicos del año. Filing state tax free Reembolso en exceso. Filing state tax free   Si se le reembolsa más de sus gastos médicos, podría verse obligado a incluir el excedente en los ingresos. Filing state tax free Puede utilizar la Figura 21-A como guía para decidir si alguna parte de su reembolso está sujeta a impuestos. Filing state tax free Primas pagadas por usted. Filing state tax free   Tiene un reembolso en exceso si paga la totalidad de la prima de su seguro médico, o todos los costos de un plan similar, y los pagos de seguro u otros reembolsos son mayores al total de los gastos médicos del año. Filing state tax free Generalmente no se incluye un reembolso en exceso en el ingreso bruto. Filing state tax free Primas pagadas por usted y su empleador. Filing state tax free   Si tanto usted como su empleador contribuyen a su plan de seguro médico y las aportaciones de su empleador no están incluidas en su ingreso bruto, tiene que incluir en su ingreso bruto la parte del reembolso en exceso contribuida por su empleador. Filing state tax free   Vea la Publicación 502, en inglés, para calcular el monto del reembolso en exceso que tiene que incluir en su ingreso bruto. Filing state tax free Reembolso en un año posterior. Filing state tax free   Si se le reembolsan en un año posterior los gastos médicos que dedujo en un año anterior, normalmente tiene que declarar el reembolso como ingreso hasta la cantidad que dedujo anteriormente por gastos médicos. Filing state tax free   No obstante, no declare como ingresos el reembolso que recibió, hasta la cantidad de deducciones médicas que no redujeron su impuesto del año anterior. Filing state tax free Para más información sobre la recuperación de una cantidad que declaró como deducción detallada en un año anterior, vea Recuperaciones de Deducciones Detalladas , en el capítulo 12. Filing state tax free    Figura 21-A. Filing state tax free ¿Es Tributable su Reembolso Médico en Exceso? Please click here for the text description of the image. Filing state tax free Figura 21−A. Filing state tax free ¿Es Tributable su Reembolso Médico en Exceso? Gastos médicos no deducidos. Filing state tax free   Si no dedujo un gasto médico en el año en que lo pagó porque sus gastos médicos no fueron más del 10% de su ingreso bruto ajustado (7. Filing state tax free 5% si usted o su cónyuge tiene 65 años de edad o más) o porque no detalló las deducciones, no incluya en sus ingresos el reembolso hasta el máximo de la cantidad del gasto. Filing state tax free No obstante, si el reembolso es mayor que el gasto, vea Reembolso en exceso , anteriormente. Filing state tax free Ejemplo. Filing state tax free En 2013, usted no estuvo casado, era menor de 65 años de edad y tuvo gastos médicos de $500. Filing state tax free No puede deducir los $500 porque es menos del 10% de su ingreso bruto ajustado. Filing state tax free Si, en un año posterior, se le reembolsa alguna parte de los $500 en gastos médicos, entonces usted no incluye esa cantidad en su ingreso bruto. Filing state tax free Indemnizaciones por Lesiones Personales Si recibe una indemnización en una demanda por lesiones personales, parte de esa indemnización podría corresponder a gastos médicos que dedujo en un año anterior. Filing state tax free De ser así, tiene que incluir esa parte en sus ingresos del año en el que la recibe en la medida en que dicha cantidad redujo sus ingresos tributables en el año anterior. Filing state tax free Vea Reembolso en un año posterior , presentado anteriormente bajo ¿Cómo se Tratan los Reembolsos? Gastos médicos futuros. Filing state tax free   Si recibe una indemnización por lesiones personales en una demanda por daños y perjuicios, parte de dicha indemnización podría estar destinada a futuros gastos médicos. Filing state tax free De ser así, tiene que reducir todos los gastos médicos futuros en los que incurra por esas lesiones hasta que se agote la cantidad que recibió. Filing state tax free Cómo Calcular y Reclamar la Deducción en su Declaración de Impuestos Una vez que haya determinado qué gastos médicos puede incluir, calcule y declare la deducción en su declaración de impuestos. Filing state tax free ¿Qué Formulario Debe Usar para la Declaración? Calcule la deducción por gastos médicos en el Anexo A (Formulario 1040). Filing state tax free No puede declarar gastos médicos en el Formulario 1040A ni en el Formulario 1040EZ. Filing state tax free Si necesita más información sobre las deducciones detalladas o no está seguro de poder detallar sus deducciones, vea el capítulo 20 de esta publicación. Filing state tax free Anote la cantidad que pagó por gastos médicos y dentales en el Anexo A (Formulario 1040). Filing state tax free Esta cantidad debería ser los gastos que no fueron reembolsados por seguros o alguna otra fuente. Filing state tax free Por lo general, puede deducir únicamente la cantidad de sus gastos médicos y dentales que sea más del 10% de su ingreso bruto ajustado (7. Filing state tax free 5% si usted o su cónyuge tiene 65 años de edad o más), el cual se encuentra en la línea 38 del Formulario 1040. Filing state tax free Gastos de Trabajo Relacionados con un Impedimento Si usted es una persona con una discapacidad, puede tomar una deducción de gastos de negocio que sean necesarios para poder trabajar. Filing state tax free Si toma una deducción de estos gastos de negocio relacionados con un impedimento, no reclame una deducción médica por los mismos gastos. Filing state tax free Usted tiene una discapacidad si tiene: Una discapacidad física o mental (por ejemplo, ceguera o sordera) que lo limite funcionalmente para trabajar o Un impedimento físico o mental (por ejemplo, un impedimento de la vista o del oído) que limita considerablemente una o más de las actividades importantes de su vida, como llevar a cabo tareas manuales, caminar, hablar, respirar, aprender o trabajar. Filing state tax free Definición de gastos de trabajo relacionados con un impedimento. Filing state tax free   Los “gastos de trabajo relacionados con un impedimento” son los gastos de negocio habituales y necesarios que: Son necesarios para que usted haga su trabajo de modo satisfactorio, Son para bienes y servicios que no se exigen ni se usan, salvo de manera imprevista, en sus actividades personales y No están cubiertos por otras leyes que rigen el impuesto sobre el ingreso. Filing state tax free Dónde se anota la deducción. Filing state tax free   Si trabaja por cuenta propia, deduzca los gastos de negocio en el formulario correspondiente (Anexo C, C-EZ, E o F) para declarar ingresos y gastos de negocio. Filing state tax free   Si es empleado, llene el Formulario 2106, Employee Business Expenses (Gastos de negocio del empleado), o el Formulario 2106-EZ, Unreimbursed Employee Business Expenses (Gastos de negocio del empleado no reembolsados), ambos en inglés. Filing state tax free Anote en el Anexo A (Formulario 1040) la parte de la cantidad del Formulario 2106, o el Formulario 2106-EZ, relacionada con su impedimento. Filing state tax free Anote la cantidad que no esté relacionada con su impedimento en el Anexo A (Formulario 1040). Filing state tax free Los gastos de trabajo relacionados con un impedimento no están sujetos al límite del 2% del ingreso bruto ajustado que corresponde a otros gastos de negocio del empleado. Filing state tax free Ejemplo. Filing state tax free Usted es ciego. Filing state tax free Necesita un lector para realizar su trabajo. Filing state tax free Tiene que servirse del lector tanto durante sus horas normales de trabajo en su lugar de trabajo como fuera de dicho lugar y horario. Filing state tax free Los servicios del lector son únicamente para su trabajo. Filing state tax free Puede deducir sus gastos por los servicios del lector como gastos de negocio. Filing state tax free Costos del Seguro Médico para Personas que Trabajan por Cuenta Propia Si usted trabajó por cuenta propia y tuvo una utilidad neta ese año, es posible que pueda deducir, como un ajuste a sus ingresos, las cantidades pagadas por seguro médico y seguro de cuidado a largo plazo calificado para usted, su cónyuge, sus dependientes y sus hijos menores de 27 años de edad a finales del año 2013. Filing state tax free Para ese fin, se considera que trabajó por cuenta propia si fue socio general (o socio en una sociedad limitada y recibía pagos garantizados) o recibió un salario de una sociedad anónima de tipo S en la que tenía una participación como accionista de más del 2%. Filing state tax free El plan de seguros debe estar a nombre de su ocupación o negocio y la deducción no puede ser mayor que su ingreso del trabajo procedente de dicha ocupación o negocio. Filing state tax free No puede deducir pagos por seguro médico por ningún mes en el que haya cumplido los requisitos para participar en algún plan de salud subvencionado por su empleador, el empleador de su cónyuge o el empleador de su dependiente o de su hijo menor de 27 años de edad a finales del año 2013. Filing state tax free No puede deducir pagos por un contrato de cuidados a largo plazo en ningún mes en el que haya cumplido los requisitos para participar en algún plan de seguro por cuidados a largo plazo subvencionado por su empleador o el empleador de su cónyuge. Filing state tax free Si reúne los requisitos para reclamar la deducción, use la Self-Employed Health Insurance Deduction Worksheet (Hoja de trabajo para deducciones del seguro médico para personas que trabajan por cuenta propia) de las Instrucciones del Formulario 1040, en inglés, para calcular la cantidad que puede deducir. Filing state tax free Pero si corresponde alguno de los siguientes puntos, no use dicha hoja de trabajo: Tuvo más de una fuente de ingresos sujeta al impuesto sobre el trabajo por cuenta propia. Filing state tax free Presenta el Formulario 2555, Foreign Earned Income (Ingreso devengado en el extranjero) o el Formulario 2555-EZ, Foreign Earned Income Exclusion (Exclusión de ingreso devengado en el extranjero), ambos en inglés. Filing state tax free Calcula la deducción usando cantidades pagadas por un seguro de cuidados a largo plazo calificado. Filing state tax free Si no puede usar la hoja de trabajo de las Instrucciones del Formulario 1040, use la hoja de trabajo de la Publicación 535, Business Expenses (Gastos de negocio), en inglés, para calcular su deducción. Filing state tax free Nota: Al calcular la cantidad que puede deducir por primas de seguros, no incluya ningún pago adelantado que aparezca en el Formulario 1099-H, Health Coverage Tax Credit (HCTC) Advance Payments (Pagos adelantados del crédito tributario por cobertura de seguro médico (HCTC, por sus siglas en inglés)). Filing state tax free Asimismo, si reclama el crédito tributario por cobertura de seguro médico, reste la cantidad que aparece en el Formulario 8885, en inglés, del total de las primas de seguros que pagó. Filing state tax free No incluya cantidades pagadas por cobertura de seguro médico si dichas cantidades se pagaron con distribuciones de un plan de jubilación que estaban exentas de impuestos porque usted es funcionario de seguridad pública jubilado. Filing state tax free Dónde se anota la deducción. Filing state tax free    Haga esta deducción en el Formulario 1040. Filing state tax free Si detalla sus deducciones y no declara en el Formulario 1040 el 100% de su seguro médico para personas que trabajan por cuenta propia, generalmente puede incluir las demás primas con todos los demás gastos médicos en el Anexo A (Formulario 1040), sujetos al límite del 10% (7. Filing state tax free 5% si usted o su cónyuge tiene 65 años de edad o más). Filing state tax free Vea el tema titulado “Self-Employed Health Insurance Deduction” (Deducción del seguro de salud de la persona que trabaja por cuenta propia), en el capítulo 6 de la Publicación 535, Business Expenses (Gastos de negocio), y el tema titulado “Medical and Dental Expenses” (Gastos médicos y dentales), en las Instrucciones para el Anexo A (Formulario 1040), ambos disponibles en inglés, para más información. Filing state tax free Prev  Up  Next   Home   More Online Publications