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Free Tax Forms 2012

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Free Tax Forms 2012

Free tax forms 2012 8. Free tax forms 2012   Dividends and Other Distributions Table of Contents Reminder Introduction Useful Items - You may want to see: General InformationDividends not reported on Form 1099-DIV. Free tax forms 2012 Reporting tax withheld. Free tax forms 2012 Nominees. Free tax forms 2012 Ordinary DividendsQualified Dividends Dividends Used to Buy More Stock Money Market Funds Capital Gain DistributionsBasis adjustment. Free tax forms 2012 Nondividend DistributionsLiquidating Distributions Distributions of Stock and Stock Rights Other DistributionsInformation reporting requirement. Free tax forms 2012 Alternative minimum tax treatment. Free tax forms 2012 How To Report Dividend IncomeInvestment interest deducted. Free tax forms 2012 Reminder Foreign-source income. Free tax forms 2012  If you are a U. Free tax forms 2012 S. Free tax forms 2012 citizen with dividend income from sources outside the United States (foreign-source income), you must report that income on your tax return unless it is exempt by U. Free tax forms 2012 S. Free tax forms 2012 law. Free tax forms 2012 This is true whether you reside inside or outside the United States and whether or not you receive a Form 1099 from the foreign payer. Free tax forms 2012 Introduction This chapter discusses the tax treatment of: Ordinary dividends, Capital gain distributions, Nondividend distributions, and Other distributions you may receive from a corporation or a mutual fund. Free tax forms 2012 This chapter also explains how to report dividend income on your tax return. Free tax forms 2012 Dividends are distributions of money, stock, or other property paid to you by a corporation or by a mutual fund. Free tax forms 2012 You also may receive dividends through a partnership, an estate, a trust, or an association that is taxed as a corporation. Free tax forms 2012 However, some amounts you receive that are called dividends are actually interest income. Free tax forms 2012 (See Dividends that are actually interest under Taxable Interest in chapter 7. Free tax forms 2012 ) Most distributions are paid in cash (or check). Free tax forms 2012 However, distributions can consist of more stock, stock rights, other property, or services. Free tax forms 2012 Useful Items - You may want to see: Publication 514 Foreign Tax Credit for Individuals 550 Investment Income and Expenses Form (and Instructions) Schedule B (Form 1040A or 1040) Interest and Ordinary Dividends General Information This section discusses general rules for dividend income. Free tax forms 2012 Tax on unearned income of certain children. Free tax forms 2012   Part of a child's 2013 unearned income may be taxed at the parent's tax rate. Free tax forms 2012 If it is, Form 8615, Tax for Certain Children Who Have Unearned Income, must be completed and attached to the child's tax return. Free tax forms 2012 If not, Form 8615 is not required and the child's income is taxed at his or her own tax rate. Free tax forms 2012    Some parents can choose to include the child's interest and dividends on the parent's return if certain requirements are met. Free tax forms 2012 Use Form 8814, Parents' Election To Report Child's Interest and Dividends, for this purpose. Free tax forms 2012   For more information about the tax on unearned income of children and the parents' election, see chapter 31. Free tax forms 2012 Beneficiary of an estate or trust. Free tax forms 2012    Dividends and other distributions you receive as a beneficiary of an estate or trust are generally taxable income. Free tax forms 2012 You should receive a Schedule K-1 (Form 1041), Beneficiary's Share of Income, Deductions, Credits, etc. Free tax forms 2012 , from the fiduciary. Free tax forms 2012 Your copy of Schedule K-1 (Form 1041) and its instructions will tell you where to report the income on your Form 1040. Free tax forms 2012 Social security number (SSN) or individual taxpayer identification number (ITIN). Free tax forms 2012    You must give your SSN or ITIN to any person required by federal tax law to make a return, statement, or other document that relates to you. Free tax forms 2012 This includes payers of dividends. Free tax forms 2012 If you do not give your SSN or ITIN to the payer of dividends, you may have to pay a penalty. Free tax forms 2012 For more information on SSNs and ITINs, see Social Security Number (SSN) in chapter 1. Free tax forms 2012 Backup withholding. Free tax forms 2012   Your dividend income is generally not subject to regular withholding. Free tax forms 2012 However, it may be subject to backup withholding to ensure that income tax is collected on the income. Free tax forms 2012 Under backup withholding, the payer of dividends must withhold, as income tax, on the amount you are paid, applying the appropriate withholding rate. Free tax forms 2012   Backup withholding may also be required if the IRS has determined that you underreported your interest or dividend income. Free tax forms 2012 For more information, see Backup Withholding in chapter 4. Free tax forms 2012 Stock certificate in two or more names. Free tax forms 2012   If two or more persons hold stock as joint tenants, tenants by the entirety, or tenants in common, each person's share of any dividends from the stock is determined by local law. Free tax forms 2012 Form 1099-DIV. Free tax forms 2012   Most corporations and mutual funds use Form 1099-DIV, Dividends and Distributions, to show you the distributions you received from them during the year. Free tax forms 2012 Keep this form with your records. Free tax forms 2012 You do not have to attach it to your tax return. Free tax forms 2012 Dividends not reported on Form 1099-DIV. Free tax forms 2012   Even if you do not receive Form 1099-DIV, you must still report all your taxable dividend income. Free tax forms 2012 For example, you may receive distributive shares of dividends from partnerships or S corporations. Free tax forms 2012 These dividends are reported to you on Schedule K-1 (Form 1065), Partner's Share of Income, Deductions, Credits, etc. Free tax forms 2012 , and Schedule K-1 (Form 1120S), Shareholder's Share of Income, Deductions, Credits, etc. Free tax forms 2012 Reporting tax withheld. Free tax forms 2012   If tax is withheld from your dividend income, the payer must give you a Form 1099-DIV that indicates the amount withheld. Free tax forms 2012 Nominees. Free tax forms 2012   If someone receives distributions as a nominee for you, that person should give you a Form 1099-DIV, which will show distributions received on your behalf. Free tax forms 2012 Form 1099-MISC. Free tax forms 2012   Certain substitute payments in lieu of dividends or tax-exempt interest received by a broker on your behalf must be reported to you on Form 1099-MISC, Miscellaneous Income, or a similar statement. Free tax forms 2012 See Reporting Substitute Payments under Short Sales in chapter 4 of Publication 550 for more information about reporting these payments. Free tax forms 2012 Incorrect amount shown on a Form 1099. Free tax forms 2012   If you receive a Form 1099 that shows an incorrect amount (or other incorrect information), you should ask the issuer for a corrected form. Free tax forms 2012 The new Form 1099 you receive will be marked “Corrected. Free tax forms 2012 ” Dividends on stock sold. Free tax forms 2012   If stock is sold, exchanged, or otherwise disposed of after a dividend is declared but before it is paid, the owner of record (usually the payee shown on the dividend check) must include the dividend in income. Free tax forms 2012 Dividends received in January. Free tax forms 2012   If a mutual fund (or other regulated investment company) or real estate investment trust (REIT) declares a dividend (including any exempt-interest dividend or capital gain distribution) in October, November, or December, payable to shareholders of record on a date in one of those months but actually pays the dividend during January of the next calendar year, you are considered to have received the dividend on December 31. Free tax forms 2012 You report the dividend in the year it was declared. Free tax forms 2012 Ordinary Dividends Ordinary (taxable) dividends are the most common type of distribution from a corporation or a mutual fund. Free tax forms 2012 They are paid out of earnings and profits and are ordinary income to you. Free tax forms 2012 This means they are not capital gains. Free tax forms 2012 You can assume that any dividend you receive on common or preferred stock is an ordinary dividend unless the paying corporation or mutual fund tells you otherwise. Free tax forms 2012 Ordinary dividends will be shown in box 1a of the Form 1099-DIV you receive. Free tax forms 2012 Qualified Dividends Qualified dividends are the ordinary dividends subject to the same 0%, 15%, or 20% maximum tax rate that applies to net capital gain. Free tax forms 2012 They should be shown in box 1b of the Form 1099-DIV you receive. Free tax forms 2012 The maximum rate of tax on qualified dividends is: 0% on any amount that otherwise would be taxed at a 10% or 15% rate. Free tax forms 2012 15% on any amount that otherwise would be taxed at rates greater than 15% but less than 39. Free tax forms 2012 6%. Free tax forms 2012 20% on any amount that otherwise would be taxed at a 39. Free tax forms 2012 6% rate. Free tax forms 2012 To qualify for the maximum rate, all of the following requirements must be met. Free tax forms 2012 The dividends must have been paid by a U. Free tax forms 2012 S. Free tax forms 2012 corporation or a qualified foreign corporation. Free tax forms 2012 (See Qualified foreign corporation , later. Free tax forms 2012 ) The dividends are not of the type listed later under Dividends that are not qualified dividends . Free tax forms 2012 You meet the holding period (discussed next). Free tax forms 2012 Holding period. Free tax forms 2012   You must have held the stock for more than 60 days during the 121-day period that begins 60 days before the ex-dividend date. Free tax forms 2012 The ex-dividend date is the first date following the declaration of a dividend on which the buyer of a stock is not entitled to receive the next dividend payment. Free tax forms 2012 Instead, the seller will get the dividend. Free tax forms 2012   When counting the number of days you held the stock, include the day you disposed of the stock, but not the day you acquired it. Free tax forms 2012 See the examples later. Free tax forms 2012 Exception for preferred stock. Free tax forms 2012   In the case of preferred stock, you must have held the stock more than 90 days during the 181-day period that begins 90 days before the ex-dividend date if the dividends are due to periods totaling more than 366 days. Free tax forms 2012 If the preferred dividends are due to periods totaling less than 367 days, the holding period in the previous paragraph applies. Free tax forms 2012 Example 1. Free tax forms 2012 You bought 5,000 shares of XYZ Corp. Free tax forms 2012 common stock on July 9, 2013. Free tax forms 2012 XYZ Corp. Free tax forms 2012 paid a cash dividend of 10 cents per share. Free tax forms 2012 The ex-dividend date was July 16, 2013. Free tax forms 2012 Your Form 1099-DIV from XYZ Corp. Free tax forms 2012 shows $500 in box 1a (ordinary dividends) and in box 1b (qualified dividends). Free tax forms 2012 However, you sold the 5,000 shares on August 12, 2013. Free tax forms 2012 You held your shares of XYZ Corp. Free tax forms 2012 for only 34 days of the 121-day period (from July 10, 2013, through August 12, 2013). Free tax forms 2012 The 121-day period began on May 17, 2013 (60 days before the ex-dividend date), and ended on September 14, 2013. Free tax forms 2012 You have no qualified dividends from XYZ Corp. Free tax forms 2012 because you held the XYZ stock for less than 61 days. Free tax forms 2012 Example 2. Free tax forms 2012 Assume the same facts as in Example 1 except that you bought the stock on July 15, 2013 (the day before the ex-dividend date), and you sold the stock on September 16, 2013. Free tax forms 2012 You held the stock for 63 days (from July 16, 2013, through September 16, 2013). Free tax forms 2012 The $500 of qualified dividends shown in box 1b of your Form 1099-DIV are all qualified dividends because you held the stock for 61 days of the 121-day period (from July 16, 2013, through September 14, 2013). Free tax forms 2012 Example 3. Free tax forms 2012 You bought 10,000 shares of ABC Mutual Fund common stock on July 9, 2013. Free tax forms 2012 ABC Mutual Fund paid a cash dividend of 10 cents a share. Free tax forms 2012 The ex-dividend date was July 16, 2013. Free tax forms 2012 The ABC Mutual Fund advises you that the portion of the dividend eligible to be treated as qualified dividends equals 2 cents per share. Free tax forms 2012 Your Form 1099-DIV from ABC Mutual Fund shows total ordinary dividends of $1,000 and qualified dividends of $200. Free tax forms 2012 However, you sold the 10,000 shares on August 12, 2013. Free tax forms 2012 You have no qualified dividends from ABC Mutual Fund because you held the ABC Mutual Fund stock for less than 61 days. Free tax forms 2012 Holding period reduced where risk of loss is diminished. Free tax forms 2012   When determining whether you met the minimum holding period discussed earlier, you cannot count any day during which you meet any of the following conditions. Free tax forms 2012 You had an option to sell, were under a contractual obligation to sell, or had made (and not closed) a short sale of substantially identical stock or securities. Free tax forms 2012 You were grantor (writer) of an option to buy substantially identical stock or securities. Free tax forms 2012 Your risk of loss is diminished by holding one or more other positions in substantially similar or related property. Free tax forms 2012   For information about how to apply condition (3), see Regulations section 1. Free tax forms 2012 246-5. Free tax forms 2012 Qualified foreign corporation. Free tax forms 2012   A foreign corporation is a qualified foreign corporation if it meets any of the following conditions. Free tax forms 2012 The corporation is incorporated in a U. Free tax forms 2012 S. Free tax forms 2012 possession. Free tax forms 2012 The corporation is eligible for the benefits of a comprehensive income tax treaty with the United States that the Treasury Department determines is satisfactory for this purpose and that includes an exchange of information program. Free tax forms 2012 For a list of those treaties, see Table 8-1. Free tax forms 2012 The corporation does not meet (1) or (2) above, but the stock for which the dividend is paid is readily tradable on an established securities market in the United States. Free tax forms 2012 See Readily tradable stock , later. Free tax forms 2012 Exception. Free tax forms 2012   A corporation is not a qualified foreign corporation if it is a passive foreign investment company during its tax year in which the dividends are paid or during its previous tax year. Free tax forms 2012 Readily tradable stock. Free tax forms 2012   Any stock (such as common, ordinary, or preferred) or an American depositary receipt in respect of that stock is considered to satisfy requirement (3) under Qualified foreign corporation , if it is listed on a national securities exchange that is registered under section 6 of the Securities Exchange Act of 1934 or on the Nasdaq Stock Market. Free tax forms 2012 For a list of the exchanges that meet these requirements, see www. Free tax forms 2012 sec. Free tax forms 2012 gov/divisions/marketreg/mrexchanges. Free tax forms 2012 shtml. Free tax forms 2012 Dividends that are not qualified dividends. Free tax forms 2012   The following dividends are not qualified dividends. Free tax forms 2012 They are not qualified dividends even if they are shown in box 1b of Form 1099-DIV. Free tax forms 2012 Capital gain distributions. Free tax forms 2012 Dividends paid on deposits with mutual savings banks, cooperative banks, credit unions, U. Free tax forms 2012 S. Free tax forms 2012 building and loan associations, U. Free tax forms 2012 S. Free tax forms 2012 savings and loan associations, federal savings and loan associations, and similar financial institutions. Free tax forms 2012 (Report these amounts as interest income. Free tax forms 2012 ) Dividends from a corporation that is a tax-exempt organization or farmer's cooperative during the corporation's tax year in which the dividends were paid or during the corporation's previous tax year. Free tax forms 2012 Dividends paid by a corporation on employer securities held on the date of record by an employee stock ownership plan (ESOP) maintained by that corporation. Free tax forms 2012 Dividends on any share of stock to the extent you are obligated (whether under a short sale or otherwise) to make related payments for positions in substantially similar or related property. Free tax forms 2012 Payments in lieu of dividends, but only if you know or have reason to know the payments are not qualified dividends. Free tax forms 2012 Payments shown in Form 1099-DIV, box 1b, from a foreign corporation to the extent you know or have reason to know the payments are not qualified dividends. Free tax forms 2012 Table 8-1. Free tax forms 2012 Income Tax Treaties Income tax treaties the United States has with the following countries satisfy requirement (2) under Qualified foreign corporation. Free tax forms 2012 Australia Indonesia Romania Austria Ireland Russian Bangladesh Israel Federation Barbados Italy Slovak Belgium Jamaica Republic Bulgaria Japan Slovenia Canada Kazakhstan South Africa China Korea Spain Cyprus Latvia Sri Lanka Czech Lithuania Sweden Republic Luxembourg Switzerland Denmark Malta Thailand Egypt Mexico Trinidad and Estonia Morocco Tobago Finland Netherlands Tunisia France New Zealand Turkey Germany Norway Ukraine Greece Pakistan United Hungary Philippines Kingdom Iceland Poland Venezuela India Portugal     Dividends Used to Buy More Stock The corporation in which you own stock may have a dividend reinvestment plan. Free tax forms 2012 This plan lets you choose to use your dividends to buy (through an agent) more shares of stock in the corporation instead of receiving the dividends in cash. Free tax forms 2012 Most mutual funds also permit shareholders to automatically reinvest distributions in more shares in the fund, instead of receiving cash. Free tax forms 2012 If you use your dividends to buy more stock at a price equal to its fair market value, you still must report the dividends as income. Free tax forms 2012 If you are a member of a dividend reinvestment plan that lets you buy more stock at a price less than its fair market value, you must report as dividend income the fair market value of the additional stock on the dividend payment date. Free tax forms 2012 You also must report as dividend income any service charge subtracted from your cash dividends before the dividends are used to buy the additional stock. Free tax forms 2012 But you may be able to deduct the service charge. Free tax forms 2012 See chapter 28 for more information about deducting expenses of producing income. Free tax forms 2012 In some dividend reinvestment plans, you can invest more cash to buy shares of stock at a price less than fair market value. Free tax forms 2012 If you choose to do this, you must report as dividend income the difference between the cash you invest and the fair market value of the stock you buy. Free tax forms 2012 When figuring this amount, use the fair market value of the stock on the dividend payment date. Free tax forms 2012 Money Market Funds Report amounts you receive from money market funds as dividend income. Free tax forms 2012 Money market funds are a type of mutual fund and should not be confused with bank money market accounts that pay interest. Free tax forms 2012 Capital Gain Distributions Capital gain distributions (also called capital gain dividends) are paid to you or credited to your account by mutual funds (or other regulated investment companies) and real estate investment trusts (REITs). Free tax forms 2012 They will be shown in box 2a of the Form 1099-DIV you receive from the mutual fund or REIT. Free tax forms 2012 Report capital gain distributions as long-term capital gains, regardless of how long you owned your shares in the mutual fund or REIT. Free tax forms 2012 Undistributed capital gains of mutual funds and REITs. Free tax forms 2012    Some mutual funds and REITs keep their long-term capital gains and pay tax on them. Free tax forms 2012 You must treat your share of these gains as distributions, even though you did not actually receive them. Free tax forms 2012 However, they are not included on Form 1099-DIV. Free tax forms 2012 Instead, they are reported to you in box 1a of Form 2439. Free tax forms 2012   Report undistributed capital gains (box 1a of Form 2439) as long-term capital gains on Schedule D (Form 1040), column (h), line 11. Free tax forms 2012   The tax paid on these gains by the mutual fund or REIT is shown in box 2 of Form 2439. Free tax forms 2012 You take credit for this tax by including it on Form 1040, line 71, and checking box a on that line. Free tax forms 2012 Attach Copy B of Form 2439 to your return, and keep Copy C for your records. Free tax forms 2012 Basis adjustment. Free tax forms 2012   Increase your basis in your mutual fund, or your interest in a REIT, by the difference between the gain you report and the credit you claim for the tax paid. Free tax forms 2012 Additional information. Free tax forms 2012   For more information on the treatment of distributions from mutual funds, see Publication 550. Free tax forms 2012 Nondividend Distributions A nondividend distribution is a distribution that is not paid out of the earnings and profits of a corporation or a mutual fund. Free tax forms 2012 You should receive a Form 1099-DIV or other statement showing the nondividend distribution. Free tax forms 2012 On Form 1099-DIV, a nondividend distribution will be shown in box 3. Free tax forms 2012 If you do not receive such a statement, you report the distribution as an ordinary dividend. Free tax forms 2012 Basis adjustment. Free tax forms 2012   A nondividend distribution reduces the basis of your stock. Free tax forms 2012 It is not taxed until your basis in the stock is fully recovered. Free tax forms 2012 This nontaxable portion is also called a return of capital; it is a return of your investment in the stock of the company. Free tax forms 2012 If you buy stock in a corporation in different lots at different times, and you cannot definitely identify the shares subject to the nondividend distribution, reduce the basis of your earliest purchases first. Free tax forms 2012   When the basis of your stock has been reduced to zero, report any additional nondividend distribution you receive as a capital gain. Free tax forms 2012 Whether you report it as a long-term or short-term capital gain depends on how long you have held the stock. Free tax forms 2012 See Holding Period in chapter 14. Free tax forms 2012 Example. Free tax forms 2012 You bought stock in 2000 for $100. Free tax forms 2012 In 2003, you received a nondividend distribution of $80. Free tax forms 2012 You did not include this amount in your income, but you reduced the basis of your stock to $20. Free tax forms 2012 You received a nondividend distribution of $30 in 2013. Free tax forms 2012 The first $20 of this amount reduced your basis to zero. Free tax forms 2012 You report the other $10 as a long-term capital gain for 2013. Free tax forms 2012 You must report as a long-term capital gain any nondividend distribution you receive on this stock in later years. Free tax forms 2012 Liquidating Distributions Liquidating distributions, sometimes called liquidating dividends, are distributions you receive during a partial or complete liquidation of a corporation. Free tax forms 2012 These distributions are, at least in part, one form of a return of capital. Free tax forms 2012 They may be paid in one or more installments. Free tax forms 2012 You will receive Form 1099-DIV from the corporation showing you the amount of the liquidating distribution in box 8 or 9. Free tax forms 2012 For more information on liquidating distributions, see chapter 1 of Publication 550. Free tax forms 2012 Distributions of Stock and Stock Rights Distributions by a corporation of its own stock are commonly known as stock dividends. Free tax forms 2012 Stock rights (also known as “stock options”) are distributions by a corporation of rights to acquire the corporation's stock. Free tax forms 2012 Generally, stock dividends and stock rights are not taxable to you, and you do not report them on your return. Free tax forms 2012 Taxable stock dividends and stock rights. Free tax forms 2012   Distributions of stock dividends and stock rights are taxable to you if any of the following apply. Free tax forms 2012 You or any other shareholder have the choice to receive cash or other property instead of stock or stock rights. Free tax forms 2012 The distribution gives cash or other property to some shareholders and an increase in the percentage interest in the corporation's assets or earnings and profits to other shareholders. Free tax forms 2012 The distribution is in convertible preferred stock and has the same result as in (2). Free tax forms 2012 The distribution gives preferred stock to some common stock shareholders and common stock to other common stock shareholders. Free tax forms 2012 The distribution is on preferred stock. Free tax forms 2012 (The distribution, however, is not taxable if it is an increase in the conversion ratio of convertible preferred stock made solely to take into account a stock dividend, stock split, or similar event that would otherwise result in reducing the conversion right. Free tax forms 2012 )   The term “stock” includes rights to acquire stock, and the term “shareholder” includes a holder of rights or of convertible securities. Free tax forms 2012 If you receive taxable stock dividends or stock rights, include their fair market value at the time of distribution in your income. Free tax forms 2012 Preferred stock redeemable at a premium. Free tax forms 2012   If you hold preferred stock having a redemption price higher than its issue price, the difference (the redemption premium) generally is taxable as a constructive distribution of additional stock on the preferred stock. Free tax forms 2012 For more information, see chapter 1 of Publication 550. Free tax forms 2012 Basis. Free tax forms 2012   Your basis in stock or stock rights received in a taxable distribution is their fair market value when distributed. Free tax forms 2012 If you receive stock or stock rights that are not taxable to you, see Stocks and Bonds under Basis of Investment Property in chapter 4 of Publication 550 for information on how to figure their basis. Free tax forms 2012 Fractional shares. Free tax forms 2012    You may not own enough stock in a corporation to receive a full share of stock if the corporation declares a stock dividend. Free tax forms 2012 However, with the approval of the shareholders, the corporation may set up a plan in which fractional shares are not issued but instead are sold, and the cash proceeds are given to the shareholders. Free tax forms 2012 Any cash you receive for fractional shares under such a plan is treated as an amount realized on the sale of the fractional shares. Free tax forms 2012 Report this transaction on Form 8949, Sales and Other Dispositions of Capital Assets. Free tax forms 2012 Enter your gain or loss, the difference between the cash you receive and the basis of the fractional shares sold, in column (h) of Schedule D (Form 1040) in Part I or Part II, whichever is appropriate. Free tax forms 2012    Report these transactions on Form 8949 with the correct box checked. Free tax forms 2012   For more information on Form 8949 and Schedule D (Form 1040), see chapter 4 of Publication 550. Free tax forms 2012 Also see the Instructions for Form 8949 and the Instructions for Schedule D (Form 1040). Free tax forms 2012 Example. Free tax forms 2012 You own one share of common stock that you bought on January 3, 2004, for $100. Free tax forms 2012 The corporation declared a common stock dividend of 5% on June 29, 2013. Free tax forms 2012 The fair market value of the stock at the time the stock dividend was declared was $200. Free tax forms 2012 You were paid $10 for the fractional-share stock dividend under a plan described in the discussion above. Free tax forms 2012 You figure your gain or loss as follows: Fair market value of old stock $200. Free tax forms 2012 00 Fair market value of stock dividend (cash received) +10. Free tax forms 2012 00 Fair market value of old stock and stock dividend $210. Free tax forms 2012 00 Basis (cost) of old stock after the stock dividend (($200 ÷ $210) × $100) $95. Free tax forms 2012 24 Basis (cost) of stock dividend (($10 ÷ $210) × $100) + 4. Free tax forms 2012 76 Total $100. Free tax forms 2012 00 Cash received $10. Free tax forms 2012 00 Basis (cost) of stock dividend − 4. Free tax forms 2012 76 Gain $5. Free tax forms 2012 24 Because you had held the share of stock for more than 1 year at the time the stock dividend was declared, your gain on the stock dividend is a long-term capital gain. Free tax forms 2012 Scrip dividends. Free tax forms 2012   A corporation that declares a stock dividend may issue you a scrip certificate that entitles you to a fractional share. Free tax forms 2012 The certificate is generally nontaxable when you receive it. Free tax forms 2012 If you choose to have the corporation sell the certificate for you and give you the proceeds, your gain or loss is the difference between the proceeds and the portion of your basis in the corporation's stock allocated to the certificate. Free tax forms 2012   However, if you receive a scrip certificate that you can choose to redeem for cash instead of stock, the certificate is taxable when you receive it. Free tax forms 2012 You must include its fair market value in income on the date you receive it. Free tax forms 2012 Other Distributions You may receive any of the following distributions during the year. Free tax forms 2012 Exempt-interest dividends. Free tax forms 2012   Exempt-interest dividends you receive from a mutual fund or other regulated investment company, including those received from a qualified fund of funds in any tax year beginning after December 22, 2010, are not included in your taxable income. Free tax forms 2012 Exempt-interest dividends should be shown in box 10 of Form 1099-DIV. Free tax forms 2012 Information reporting requirement. Free tax forms 2012   Although exempt-interest dividends are not taxable, you must show them on your tax return if you have to file a return. Free tax forms 2012 This is an information reporting requirement and does not change the exempt-interest dividends to taxable income. Free tax forms 2012 Alternative minimum tax treatment. Free tax forms 2012   Exempt-interest dividends paid from specified private activity bonds may be subject to the alternative minimum tax. Free tax forms 2012 See Alternative Minimum Tax (AMT) in chapter 30 for more information. Free tax forms 2012 Dividends on insurance policies. Free tax forms 2012    Insurance policy dividends the insurer keeps and uses to pay your premiums are not taxable. Free tax forms 2012 However, you must report as taxable interest income the interest that is paid or credited on dividends left with the insurance company. Free tax forms 2012    If dividends on an insurance contract (other than a modified endowment contract) are distributed to you, they are a partial return of the premiums you paid. Free tax forms 2012 Do not include them in your gross income until they are more than the total of all net premiums you paid for the contract. Free tax forms 2012 Report any taxable distributions on insurance policies on Form 1040, line 21. Free tax forms 2012 Dividends on veterans' insurance. Free tax forms 2012   Dividends you receive on veterans' insurance policies are not taxable. Free tax forms 2012 In addition, interest on dividends left with the Department of Veterans Affairs is not taxable. Free tax forms 2012 Patronage dividends. Free tax forms 2012   Generally, patronage dividends you receive in money from a cooperative organization are included in your income. Free tax forms 2012   Do not include in your income patronage dividends you receive on: Property bought for your personal use, or Capital assets or depreciable property bought for use in your business. Free tax forms 2012 But you must reduce the basis (cost) of the items bought. Free tax forms 2012 If the dividend is more than the adjusted basis of the assets, you must report the excess as income. Free tax forms 2012   These rules are the same whether the cooperative paying the dividend is a taxable or tax-exempt cooperative. Free tax forms 2012 Alaska Permanent Fund dividends. Free tax forms 2012    Do not report these amounts as dividends. Free tax forms 2012 Instead, report these amounts on Form 1040, line 21; Form 1040A, line 13; or Form 1040EZ, line 3. Free tax forms 2012 How To Report Dividend Income Generally, you can use either Form 1040 or Form 1040A to report your dividend income. Free tax forms 2012 Report the total of your ordinary dividends on line 9a of Form 1040 or Form 1040A. Free tax forms 2012 Report qualified dividends on line 9b of Form 1040 or Form 1040A. Free tax forms 2012 If you receive capital gain distributions, you may be able to use Form 1040A or you may have to use Form 1040. Free tax forms 2012 See Exceptions to filing Form 8949 and Schedule D (Form 1040) in chapter 16. Free tax forms 2012 If you receive nondividend distributions required to be reported as capital gains, you must use Form 1040. Free tax forms 2012 You cannot use Form 1040EZ if you receive any dividend income. Free tax forms 2012 Form 1099-DIV. Free tax forms 2012   If you owned stock on which you received $10 or more in dividends and other distributions, you should receive a Form 1099-DIV. Free tax forms 2012 Even if you do not receive Form 1099-DIV, you must report all your dividend income. Free tax forms 2012   See Form 1099-DIV for more information on how to report dividend income. Free tax forms 2012 Form 1040A or 1040. Free tax forms 2012    You must complete Schedule B (Form 1040A or 1040), Part II, and attach it to your Form 1040A or 1040, if: Your ordinary dividends (Form 1099-DIV, box 1a) are more than $1,500, or You received, as a nominee, dividends that actually belong to someone else. Free tax forms 2012 If your ordinary dividends are more than $1,500, you must also complete Schedule B (Form 1040A or 1040), Part III. Free tax forms 2012   List on Schedule B (Form 1040A or 1040), Part II, line 5, each payer's name and the ordinary dividends you received. Free tax forms 2012 If your securities are held by a brokerage firm (in “street name”), list the name of the brokerage firm shown on Form 1099-DIV as the payer. Free tax forms 2012 If your stock is held by a nominee who is the owner of record, and the nominee credited or paid you dividends on the stock, show the name of the nominee and the dividends you received or for which you were credited. Free tax forms 2012   Enter on line 6 the total of the amounts listed on line 5. Free tax forms 2012 Also enter this total on line 9a of Form 1040A or 1040. Free tax forms 2012 Qualified dividends. Free tax forms 2012   Report qualified dividends (Form 1099-DIV, box 1b) on line 9b of Form 1040 or Form 1040A. Free tax forms 2012 The amount in box 1b is already included in box 1a. Free tax forms 2012 Do not add the amount in box 1b to, or substract it from, the amount in box 1a. Free tax forms 2012   Do not include any of the following on line 9b. Free tax forms 2012 Qualified dividends you received as a nominee. Free tax forms 2012 See Nominees under How to Report Dividend Income in chapter 1 of Publication 550. Free tax forms 2012 Dividends on stock for which you did not meet the holding period. Free tax forms 2012 See Holding period , earlier under Qualified Dividends. Free tax forms 2012 Dividends on any share of stock to the extent you are obligated (whether under a short sale or otherwise) to make related payments for positions in substantially similar or related property. Free tax forms 2012 Payments in lieu of dividends, but only if you know or have reason to know the payments are not qualified dividends. Free tax forms 2012 Payments shown in Form 1099-DIV, box 1b, from a foreign corporation to the extent you know or have reason to know the payments are not qualified dividends. Free tax forms 2012   If you have qualified dividends, you must figure your tax by completing the Qualified Dividends and Capital Gain Tax Worksheet in the Form 1040 or 1040A instructions or the Schedule D Tax Worksheet in the Schedule D (Form 1040) instructions, whichever applies. Free tax forms 2012 Enter qualified dividends on line 2 of the worksheet. Free tax forms 2012 Investment interest deducted. Free tax forms 2012   If you claim a deduction for investment interest, you may have to reduce the amount of your qualified dividends that are eligible for the 0%, 15%, or 20% tax rate. Free tax forms 2012 Reduce it by the qualified dividends you choose to include in investment income when figuring the limit on your investment interest deduction. Free tax forms 2012 This is done on the Qualified Dividends and Capital Gain Tax Worksheet or the Schedule D Tax Worksheet. Free tax forms 2012 For more information about the limit on investment interest, see Investment expenses in chapter 23. Free tax forms 2012 Expenses related to dividend income. Free tax forms 2012   You may be able to deduct expenses related to dividend income if you itemize your deductions on Schedule A (Form 1040). Free tax forms 2012 See chapter 28 for general information about deducting expenses of producing income. Free tax forms 2012 More information. Free tax forms 2012    For more information about how to report dividend income, see chapter 1 of Publication 550 or the instructions for the form you must file. Free tax forms 2012 Prev  Up  Next   Home   More Online Publications
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Understanding your CP276A Notice

We didn't receive a correctly completed tax liability schedule. We normally charge a Federal Tax Deposit (FTD) penalty when this happens. We decided not to do so this time.

Tax publications you may find useful

How to get help

Calling the toll free number listed on the top right corner of your notice is the fastest way to get your questions answered.

You can also authorize someone (such as an accountant) to contact the IRS on your behalf using this Power of Attorney and Declaration of Representative (Form 2848).
 


What you need to do

  • Review your tax liability schedule. Enter the liability amount for each payroll date and see if your payroll tax deposit liability matches the tax liability you reported on your tax form. When they don't match, we reject your tax liability schedule.
  • Correct the copy of your tax return and the schedule that you kept for your records.

You may want to...


Answers to Common Questions

Do I have to reply to this notice?
No, but you should check your records to see why your tax liability schedule was incorrect.

How do I know whether I should make monthly or semiweekly payroll tax deposits?
Go back and look at the total tax liability for the four quarters before the quarter ending in June of last year if you file a quarterly return. Annual return filers should go back and look at the total tax liability of the year before their previous filing year.

For either a quarterly or an annual filer, a total tax liability of $50,000 or less means you can make your federal payroll tax deposits monthly. A tax liability greater than $50,000 means you have to make semiweekly payroll tax deposits.

When are my payroll tax deposits due?
The following table shows the schedule for semiweekly payroll tax deposits:

When Then
The payroll tax liability period is Saturday, Sunday, Monday, and Tuesday Make the tax deposit by the following Friday.
The payroll tax liability period is Wednesday, Thursday, and Friday Make the tax deposit by the following Wednesday.
A holiday falls on a weekday after the payroll tax liability period and before or on the normal deposit day Extend the deposit due date one business day for each day of holiday.

Monthly payroll tax depositors must make their tax deposits by the fifteenth of each month. When the fifteenth falls on a Saturday, a Sunday, or a legal holiday, tax deposits are due on the next business day.

Do I have to make my payroll tax deposits electronically?
Normally, yes. However, you may send your payment in with your tax return when your tax liability is $2,500 or less. If you file a quarterly tax return, another time when you may send in your payment with your return is when:

  • Your tax liabilities never totaled $100,000 or more in a deposit period, and
  • Your tax liability in the preceding quarter was $2,500 or less.

Tips for next time you file

Report each tax liability (not your deposits) on the tax liability schedule.

Make sure that that the amount on your tax liability schedule matches the payroll tax amount on your tax return.

Do not list negative amounts on your tax liability schedule.


Understanding your notice

Reading your notice
Your notice may look different from the sample because the information contained in your notice is tailored to your situation.

Notice CP276A, Page 1

Notice CP276A, Page 2

Page Last Reviewed or Updated: 14-Mar-2014

The Free Tax Forms 2012

Free tax forms 2012 Index A Accelerated Cost Recovery System (ACRS), MACRS Depreciation (see also Modified Accelerated Cost Recovery System (MACRS)) Effective date, Depreciation Methods Accounting methods Accrual method, Accrual method. Free tax forms 2012 Cash method, Cash method. Free tax forms 2012 Change of method, Changing your accounting method. Free tax forms 2012 Constructive receipt of income, Cash method. Free tax forms 2012 , More information. Free tax forms 2012 Accrual method taxpayers, Accrual method. Free tax forms 2012 ACRS (Accelerated Cost Recovery System) Effective date, Depreciation Methods Active participation, Active participation. Free tax forms 2012 Activities not for profit, Duplex. Free tax forms 2012 Additions to property, Additions or improvements to property. Free tax forms 2012 (see also Improvements) Basis, Increases to basis. Free tax forms 2012 , Additions or improvements. Free tax forms 2012 MACRS recovery period, Additions or improvements to property. Free tax forms 2012 Adjusted basis MACRS depreciation, Adjusted Basis Adjusted gross income (AGI) Modified (see Modified adjusted gross income (MAGI)) Advance rent, Advance rent. Free tax forms 2012 Security deposits, Security deposits. Free tax forms 2012 Advertising, Types of Expenses Allocation of expenses Change of property to rental use, Payments added to capital account. Free tax forms 2012 How to divide expenses, Dividing Expenses Part of property rented, Renting Part of Property, How to divide expenses. Free tax forms 2012 Personal use of rental property, Personal use of rental property. Free tax forms 2012 , Personal Use of Dwelling Unit (Including Vacation Home) Alternative Depreciation System (ADS) Election of, Electing ADS MACRS, MACRS Depreciation, Table 2-2d. Free tax forms 2012 Alternative minimum tax (AMT) Accelerated depreciation methods, Alternative minimum tax (AMT). Free tax forms 2012 Amended returns, Filing an amended return. Free tax forms 2012 Apartments Basement apartments, Examples. Free tax forms 2012 Dwelling units, Dwelling unit. Free tax forms 2012 Appraisal fees, Settlement fees and other costs. Free tax forms 2012 Assessments for maintenance, Assessments for local improvements. Free tax forms 2012 Assessments, local (see Local assessments) Assistance (see Tax help) Assumption of mortgage, Assumption of a mortgage. Free tax forms 2012 Attorneys' fees, Settlement fees and other costs. Free tax forms 2012 , Increases to basis. Free tax forms 2012 Automobiles MACRS recovery periods, Property Classes Under GDS B Basis Adjusted basis, Adjusted Basis Assessments for local improvements, Assessments for local improvements. Free tax forms 2012 Basis other than cost, Basis Other Than Cost Cost basis, Cost Basis Decreases to, Decreases to basis. Free tax forms 2012 Deductions Capitalization of costs vs. Free tax forms 2012 , Deducting vs. Free tax forms 2012 capitalizing costs. Free tax forms 2012 Not greater than basis, Cost or Other Basis Fully Recovered Fair market value, Fair market value. Free tax forms 2012 Increases to, Increases to basis. Free tax forms 2012 MACRS depreciable basis, Basis of Depreciable Property Property changed to rental use, Basis of Property Changed to Rental Use C Capital expenditures Deductions vs. Free tax forms 2012 effect on basis, Deducting vs. Free tax forms 2012 capitalizing costs. Free tax forms 2012 Local benefit taxes, Local benefit taxes. Free tax forms 2012 Mortgages, payments to obtain, Expenses paid to obtain a mortgage. Free tax forms 2012 Cars MACRS recovery periods, Property Classes Under GDS Cash method taxpayers, Cash method. Free tax forms 2012 Casualty losses, Exception for Rental Real Estate With Active Participation Change of accounting method, Changing your accounting method. Free tax forms 2012 Charitable contributions Use of property, Donation of use of the property. Free tax forms 2012 Cleaning and maintenance, Types of Expenses Closing costs, Settlement fees and other costs. Free tax forms 2012 Commissions, Types of Expenses Computers MACRS recovery periods, Property Classes Under GDS Condominiums, Condominiums, Dwelling unit. Free tax forms 2012 Constructive receipt of income, Cash method. Free tax forms 2012 , More information. Free tax forms 2012 Cooperative housing, Cooperative apartments. Free tax forms 2012 , Cooperatives, Dwelling unit. Free tax forms 2012 Cost basis, Cost Basis Credit reports, Settlement fees and other costs. Free tax forms 2012 Credits Residential energy credits, Decreases to basis. Free tax forms 2012 D Days of personal use, What is a day of personal use? Days used for repairs and maintenance, Days used for repairs and maintenance. Free tax forms 2012 Deductions Capitalizing costs vs. Free tax forms 2012 effect on basis, Deducting vs. Free tax forms 2012 capitalizing costs. Free tax forms 2012 Depreciation (see Depreciation) Limitations on, Form 4562. Free tax forms 2012 Passive activity losses (see Passive activity) Depreciation, Depreciation of Rental Property, Changing your accounting method. Free tax forms 2012 Alternative Depreciation System (ADS) (see Modified Accelerated Cost Recovery System (MACRS)) Basis (see Basis) Change of accounting method, Changing your accounting method. Free tax forms 2012 Change of property to rental use, Property Changed to Rental Use Claiming correct amount of, Claiming the Correct Amount of Depreciation Declining balance method, Depreciation Methods Duration of property expected to last more than one year, What Rental Property Can Be Depreciated? Eligible property, What Rental Property Can Be Depreciated? First-year expensing, Section 179 deduction. Free tax forms 2012 MACRS (see Modified Accelerated Cost Recovery System (MACRS)) Methods, Depreciation Methods, Figuring Your Depreciation Deduction Ownership of property, What Rental Property Can Be Depreciated?, Property you own. Free tax forms 2012 Rental expense, Depreciation. Free tax forms 2012 Rented property, Rented property. Free tax forms 2012 Section 179 deduction, Section 179 deduction. Free tax forms 2012 Special depreciation allowances, Claiming the Special Depreciation Allowance Straight line method, Depreciation Methods Useful life, What Rental Property Can Be Depreciated?, Property having a determinable useful life. Free tax forms 2012 Vacant rental property, Vacant rental property. Free tax forms 2012 Discount, bonds and notes issued at (see Original issue discount (OID)) Dividing of expenses (see Allocation of expenses) Dwelling units Definition, Dwelling unit. Free tax forms 2012 Fair rental price, Fair rental price. Free tax forms 2012 Personal use of, Personal Use of Dwelling Unit (Including Vacation Home), What is a day of personal use? E Easements, Decreases to basis. Free tax forms 2012 Equipment rental expense, Rental of equipment. Free tax forms 2012 F Fair market value (FMV), Fair market value. Free tax forms 2012 Fair rental price, Dividing Expenses, Fair rental price. Free tax forms 2012 Fees Loan origination fees, Points, Settlement fees and other costs. Free tax forms 2012 Points (see Points) Settlement fees and other costs, Settlement fees and other costs. Free tax forms 2012 Tax return preparation fees, Legal and other professional fees. Free tax forms 2012 First-year expensing, Section 179 deduction. Free tax forms 2012 Form 1040 Not rented for profit income, Where to report. Free tax forms 2012 Part of property rented, Renting Part of Property Rental income and expenses, Reporting Rental Income, Expenses, and Losses Schedule E, Schedule E (Form 1040) Form 1098 Mortgage interest, Form 1098, Mortgage Interest Statement. Free tax forms 2012 Form 4684 Casualties and thefts, How to report. Free tax forms 2012 Form 4797 Sales of business property, How to report. Free tax forms 2012 Form 8582 Passive activity losses, Form 8582. Free tax forms 2012 , Form 8582 not required. Free tax forms 2012 Free tax services, Free help with your tax return. Free tax forms 2012 G Gains and losses At-risk rules, At-Risk Rules Casualty and theft losses, Exception for Rental Real Estate With Active Participation Limits on rental losses, Form 4562. Free tax forms 2012 Passive activity losses, Passive Activity Limits Rental real estate activities, Exception for Rental Real Estate With Active Participation Sale of rental property, Sale or exchange of rental property. Free tax forms 2012 , How to report. Free tax forms 2012 General depreciation system (GDS) (see Modified Accelerated Cost Recovery System (MACRS)) H Help (see Tax help) Home Main home, Main home. Free tax forms 2012 Use as rental property (see Use of home) I Improvements, Table 1-1. Free tax forms 2012 Examples of Improvements (see also Repairs) Assessments for local improvements, Assessments for local improvements. Free tax forms 2012 Basis, Increases to basis. Free tax forms 2012 , Additions or improvements. Free tax forms 2012 Depreciation of rented property, Rented property. Free tax forms 2012 MACRS recovery period, Additions or improvements to property. Free tax forms 2012 Insurance, Types of Expenses Casualty or theft loss payments, Decreases to basis. Free tax forms 2012 Change of property to rental use, Property Changed to Rental Use Fire insurance premiums, cost basis, Settlement fees and other costs. Free tax forms 2012 Part of property rented, Renting Part of Property Premiums paid in advance, Insurance premiums paid in advance. Free tax forms 2012 Title insurance, cost basis, Settlement fees and other costs. Free tax forms 2012 Interest payments, Interest expense. Free tax forms 2012 (see also Mortgages) Loan origination fees, Points Rental expenses, Types of Expenses L Land Cost basis, Separating cost of land and buildings. Free tax forms 2012 Depreciation, Land. Free tax forms 2012 Leases Cancellation payments, Canceling a lease. Free tax forms 2012 Equipment leasing, Rental of equipment. Free tax forms 2012 Limits Passive activity losses and credits, Passive Activity Limits Rental losses, Limits on Rental Losses Loans Assumption fees, Settlement fees and other costs. Free tax forms 2012 Charges connected with getting or refinancing, cost basis, Settlement fees and other costs. Free tax forms 2012 Low or no interest, Loans with low or no interest. Free tax forms 2012 Origination fees, Points Local assessments, Assessments for local improvements. Free tax forms 2012 Losses (see Gains and losses) M Missing children, photographs of, Reminders Modified Accelerated Cost Recovery System (MACRS), MACRS Depreciation, Figuring MACRS Depreciation Under ADS Additions or improvements to property, Additions or improvements to property. Free tax forms 2012 Adjusted basis, Adjusted Basis Alternative Depreciation System (ADS), MACRS Depreciation, Figuring MACRS Depreciation Under ADS Basis other than cost, Basis Other Than Cost Conventions, Conventions Cost basis, Cost Basis Depreciable basis, Basis of Depreciable Property Effective date, Depreciation Methods Excluded property, Excluded Property General Depreciation System (GDS), MACRS Depreciation, Property Classes Under GDS, Figuring Your Depreciation Deduction Nonresidential rental property, Property Classes Under GDS Property used in rental activities (Table 2-1), Table 2-1. Free tax forms 2012 MACRS Recovery Periods for Property Used in Rental Activities Recovery periods, Table 2-1. Free tax forms 2012 MACRS Recovery Periods for Property Used in Rental Activities, 5-, 7-, or 15-year property. Free tax forms 2012 Residential rental property, Property Classes Under GDS, Residential rental property. Free tax forms 2012 Special depreciation allowances, Claiming the Special Depreciation Allowance Modified adjusted gross income (MAGI), Modified adjusted gross income (MAGI). Free tax forms 2012 Mortgages, Expenses paid to obtain a mortgage. Free tax forms 2012 Assumption of, cost basis, Assumption of a mortgage. Free tax forms 2012 Change of property to rental use, Property Changed to Rental Use End of, OID, Loan or mortgage ends. Free tax forms 2012 Interest, Interest expense. Free tax forms 2012 , Property Changed to Rental Use, Renting Part of Property Mortgage insurance premiums, Settlement fees and other costs. Free tax forms 2012 Part of property rented, Renting Part of Property N Nonresidential real property, Property Classes Under GDS Not-for-profit activities, Duplex. Free tax forms 2012 O Original issue discount (OID), Points, Loan or mortgage ends. Free tax forms 2012 P Part interest Expenses, Part interest. Free tax forms 2012 Income, Part interest. Free tax forms 2012 Passive activity Maximum special allowance, Maximum special allowance. Free tax forms 2012 Personal property Rental income from, Property or services. Free tax forms 2012 Personal use of rental property, Payments added to capital account. Free tax forms 2012 , Personal Use of Dwelling Unit (Including Vacation Home) (see also Property changed to rental use) Placed-in-service date, Placed in Service Points, Types of Expenses, Points, Settlement fees and other costs. Free tax forms 2012 Pre-rental expenses, Pre-rental expenses. Free tax forms 2012 Principal residence (see Home) Profit, property not rented for, Duplex. Free tax forms 2012 Property changed to rental use, Payments added to capital account. Free tax forms 2012 Basis, Basis of Property Changed to Rental Use Publications (see Tax help) R Real estate professionals, Real estate professionals. Free tax forms 2012 Real estate taxes, Real estate taxes. Free tax forms 2012 Real property trades or businesses, Real property trades or businesses. Free tax forms 2012 Recordkeeping requirements Travel and transportation expenses, Local transportation expenses. Free tax forms 2012 , Travel expenses. Free tax forms 2012 Recovery periods, Property Classes Under GDS Rent, Settlement fees and other costs. Free tax forms 2012 Advance rent, Advance rent. Free tax forms 2012 Fair price, Fair rental price. Free tax forms 2012 Rental expenses, Rental Expenses Advertising, Types of Expenses Allocation between rental and personal uses, Dividing Expenses Change of property to rental use, Property Changed to Rental Use Cleaning and maintenance, Types of Expenses Commissions, Types of Expenses Depreciation, Depreciation. Free tax forms 2012 Dwelling unit used as home, Dwelling Unit Used as a Home Equipment rental, Rental of equipment. Free tax forms 2012 Home, property also used as, Rental of property also used as your home. Free tax forms 2012 Improvements, Table 1-1. Free tax forms 2012 Examples of Improvements Insurance, Types of Expenses, Insurance premiums paid in advance. Free tax forms 2012 Interest payments, Types of Expenses, Interest expense. Free tax forms 2012 Local transportation expenses, Types of Expenses, Local transportation expenses. Free tax forms 2012 Part of property rented, Renting Part of Property Points, Types of Expenses, Points Pre-rental expenses, Pre-rental expenses. Free tax forms 2012 Rental payments, Types of Expenses Repairs, Types of Expenses, Repairs and Improvements Sale of property, Vacant while listed for sale. Free tax forms 2012 Tax return preparation fees, Legal and other professional fees. Free tax forms 2012 Taxes, Types of Expenses Tenant, paid by, Expenses paid by tenant. Free tax forms 2012 Travel expenses, Types of Expenses Utilities, Types of Expenses Vacant rental property, Vacant rental property. Free tax forms 2012 Rental income Advance rent, Advance rent. Free tax forms 2012 Cancellation of lease payments, Canceling a lease. Free tax forms 2012 Dwelling unit used as home, Dwelling Unit Used as a Home Lease with option to buy, Lease with option to buy. Free tax forms 2012 Not rented for profit, Not Rented for Profit Part interest, Part interest. Free tax forms 2012 Property received from tenant, Property or services. Free tax forms 2012 Reporting, Accrual method. Free tax forms 2012 , Which Forms To Use Security deposit, Security deposits. Free tax forms 2012 Services received from tenant, Property or services. Free tax forms 2012 Uncollected rent, Uncollected rent. Free tax forms 2012 Used as home, Rental of property also used as your home. Free tax forms 2012 Rental losses, Exception for Rental Real Estate With Active Participation (see also Gains and losses) (see also Passive activity) Repairs, Types of Expenses, Repairs and Improvements (see also Improvements) Assessments for maintenance, Assessments for local improvements. Free tax forms 2012 Personal use of rental property exception for days used for repairs and maintenance, Days used for repairs and maintenance. Free tax forms 2012 S Sale of property Expenses, Vacant while listed for sale. Free tax forms 2012 Gain or loss, Sale or exchange of rental property. Free tax forms 2012 , How to report. Free tax forms 2012 Main home, Sale of main home used as rental property. Free tax forms 2012 Section 179 deductions, Section 179 deduction. Free tax forms 2012 Security deposits, Security deposits. Free tax forms 2012 Settlement fees, Settlement fees and other costs. Free tax forms 2012 Shared equity financing agreements, Shared equity financing agreement. Free tax forms 2012 Special depreciation allowances, Claiming the Special Depreciation Allowance Spouse Material participation, Participating spouse. Free tax forms 2012 Standard mileage rates, Local transportation expenses. Free tax forms 2012 Surveys, Settlement fees and other costs. Free tax forms 2012 T Tables and figures Improvements, examples of (Table 1-1), Table 1-1. Free tax forms 2012 Examples of Improvements MACRS optional tables (Table 2-2d), Table 2-2d. Free tax forms 2012 MACRS optional tables (Tables 2-2a, 2-2b, and 2-2c), Tables 2-2a, 2-2b, and 2-2c. Free tax forms 2012 MACRS recovery periods for property used in rental activities (Table 2-1), Table 2-1. Free tax forms 2012 MACRS Recovery Periods for Property Used in Rental Activities Tax credits Residential energy credits, effect on basis, Decreases to basis. Free tax forms 2012 Tax help, How To Get Tax Help Tax return preparation fees, Legal and other professional fees. Free tax forms 2012 Taxes Deduction of, Types of Expenses Local benefit taxes, Local benefit taxes. Free tax forms 2012 Real estate taxes, Real estate taxes. Free tax forms 2012 Transfer taxes, Settlement fees and other costs. Free tax forms 2012 Theft losses, Theft. Free tax forms 2012 Title insurance, Settlement fees and other costs. Free tax forms 2012 Transfer taxes, Settlement fees and other costs. Free tax forms 2012 Travel and transportation expenses Local transportation expenses, Types of Expenses, Local transportation expenses. Free tax forms 2012 Recordkeeping, Travel expenses. Free tax forms 2012 Rental expenses, Types of Expenses Standard mileage rate, Local transportation expenses. Free tax forms 2012 U Uncollected rent Income, Uncollected rent. Free tax forms 2012 Use of home Before or after renting, Days used as a main home before or after renting. Free tax forms 2012 Change to rental use, Property Changed to Rental Use Days of personal use, What is a day of personal use? Fair rental price, Fair rental price. Free tax forms 2012 Passive activity rules exception, Exception for Personal Use of Dwelling Unit Personal use as dwelling unit, Personal Use of Dwelling Unit (Including Vacation Home) Utilities, Types of Expenses, Increases to basis. Free tax forms 2012 V Vacant rental property, Vacant rental property. Free tax forms 2012 Vacation homes Dwelling unit, Dwelling unit. Free tax forms 2012 Fair rental price, Fair rental price. Free tax forms 2012 Personal use of, Personal Use of Dwelling Unit (Including Vacation Home) Valuation Fair market value, Fair market value. Free tax forms 2012 Prev  Up     Home   More Online Publications