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How Do I File My 2012 Taxes Now

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How Do I File My 2012 Taxes Now

How do i file my 2012 taxes now 9. How do i file my 2012 taxes now   Figuring Net Profit or Loss Table of Contents Introduction Net Operating Losses (NOLs) Not-for-Profit Activities Introduction After figuring your business income and expenses, you are ready to figure the net profit or net loss from your business. How do i file my 2012 taxes now You do this by subtracting business expenses from business income. How do i file my 2012 taxes now If your expenses are less than your income, the difference is net profit and becomes part of your income on page 1 of Form 1040. How do i file my 2012 taxes now If your expenses are more than your income, the difference is a net loss. How do i file my 2012 taxes now You usually can deduct it from gross income on page 1 of Form 1040. How do i file my 2012 taxes now But in some situations your loss is limited. How do i file my 2012 taxes now This chapter briefly explains two of those situations. How do i file my 2012 taxes now Other situations that may limit your loss are explained in the Instructions for Schedule C, line G and line 32. How do i file my 2012 taxes now If you have more than one business, you must figure your net profit or loss for each business on a separate Schedule C. How do i file my 2012 taxes now Net Operating Losses (NOLs) If your deductions for the year are more than your income for the year (line 41 of your Form 1040 is a negative number), you may have a net operating loss (NOL). How do i file my 2012 taxes now You can use an NOL by deducting it from your income in another year or years. How do i file my 2012 taxes now Examples of typical losses that may produce an NOL include, but are not limited to, losses incurred from the following. How do i file my 2012 taxes now Your trade or business. How do i file my 2012 taxes now Your work as an employee (unreimbursed employee business expenses). How do i file my 2012 taxes now A casualty or theft. How do i file my 2012 taxes now Moving expenses. How do i file my 2012 taxes now Rental property. How do i file my 2012 taxes now A loss from operating a business is the most common reason for an NOL. How do i file my 2012 taxes now For details about NOLs, see Publication 536, Net Operating Losses (NOLs) for Individuals, Estates, and Trusts. How do i file my 2012 taxes now It explains how to figure an NOL, when to use it, how to claim an NOL deduction, and how to figure an NOL carryover. How do i file my 2012 taxes now Not-for-Profit Activities If you do not carry on your business to make a profit, there is a limit on the deductions you can take. How do i file my 2012 taxes now You cannot use a loss from the activity to offset other income. How do i file my 2012 taxes now Activities you do as a hobby, or mainly for sport or recreation, come under this limit. How do i file my 2012 taxes now For details about not-for-profit activities, see chapter 1 in Publication 535, Business Expenses. How do i file my 2012 taxes now That chapter explains how to determine whether your activity is carried on to make a profit and how to figure the amount of loss you can deduct. How do i file my 2012 taxes now Prev  Up  Next   Home   More Online Publications
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SOI Tax Stats - Domestic Private Foundation and Charitable Trust Statistics

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Snapshot of Private Foundation Statistics

Private foundations organized for charitable purposes are exempt from income taxes. They are differentiated from tax-exempt public charities by their narrow bases of control and financial support. Statistics on private foundations are compiled from Form 990-PF, an annual information return that includes data on excise tax liability, charitable distributions, administrative expenditures, as well as income statement and balance sheet information. Data are available for the following types of organizations:

  • Operating Foundations—Generally conduct their own charitable activities, e.g., museums
  • Nonoperating Foundations—Generally provide charitable support through grants and other financial means to charitable organizations; the majority of foundations are nonoperating
  • Section 4947(a)(1) Nonexempt Charitable Trusts—Charitable trusts treated as private foundations for tax purposes; may be operating or nonoperating

Statistical Tables   Publications and Papers   Microdata   Other IRS Data
 

For information about selected terms and concepts, a description of the data sources and limitations, and links to recent revisions of Form 990-PF, please visit the Private Foundations Study Metadata page.


Statistical Tables

The following tables are available as Microsoft Excel® files. A free Excel viewer is available for download, if needed.

NOTE: Statistics for the years denoted by an asterisk (*) include information reported by both domestic and foreign foundations and charitable trusts.

Domestic Private Foundations:
     Number and Selected Financial Data
      Classified by: Type of Foundation and Size of End-of-Year Fair Market Value of Total Assets
      Tax Years: 2010  2009  2008  2007  2006  2005  2004  2003  2002  2001  2000  1999  1998  1997  1996  1995  1994  1993  1992  1991  1990  1989  1988  1987  1986  1985
 
     Income Statements and Balance Sheets
      Classified by: Size of End-of-Year Fair Market Value of Total Assets
      Tax Years: 2010  2009  2008  2007  2006  2005  2004  2003  2002  2001  2000  1999  1998  1997  1996  1996*  1995*  1994*  1993*  1992*  1991*
    Selected Data Items in Current Dollars
      Classified by: Asset Size
      Tax Years: 1993–2002

 
Domestic Nonoperating Private Foundations:
     Disbursements for Charitable Purposes—in Constant Dollars
      Tax Years: 1985–2010
 
     Disbursements for Charitable Purposes—in Current Dollars
      Tax Years: 1985–2010
 
     Noncharitable-Use Assets and Qualifying Distributions
      Tax Years: 1985–2010
 
     Largest 100 Nonoperating Private Foundations—Selected Financial Data
      Tax Years: Panel Study, 1985–1997
 
     Selected Data Items by Asset Size—in Current Dollars
      Tax Years: 1993–2002

 
Domestic IRC Section 4947(a)(1) Charitable Trusts Treated as Foundations:
     Number and Selected Financial Data
      Classified by: Type of Charitable Trust and Size of End-of-Year Fair Market Value of Assets
      Tax Years: 2010  2009  2008  2007  2006  2005  2004  2003  2002  2001  2000  1999  1998  1997  1996  1996*  1995*  1994*  1993*  1992*  1991*
 
     Income Statements and Balance Sheets
      Classified by: Size of End-of-Year Fair Market Value of Assets
      Tax Years: 2010  2009  2008  2007  2006  2005  2004  2003  2002  2001  2000  1999  1998  1997  1996  1996*  1995*  1994*  1993*  1992*  1991*

 
Excise Taxes Reported by Charities, Private Foundations, and Split-Interest Trusts on Form 4720
      Classified by: Type of Excise Tax
      Calendar Years: 2011  2010  2009  2008  2007  2006  2005  2004  2003

 
To make customized tables using these data, please visit the Statistics of Income Tax Stats Table Wizard

 
Historical Table:
Table 16—Nonprofit Charitable Organization and Domestic Private Foundation Information Returns, and Tax-Exempt Organization Business Income Tax Returns: Selected Financial Data, Expanded
      Published as: SOI Bulletin Historical Table 16

 
Projections
For selected tax returns, including the Form 990-PF, IRS's Office of Research produces annual forecasts of the number of returns that will be filed in future years.
     Projections of Returns to be Filed in Future Calendar Years
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Publications and Papers

The following are available as PDF files. A free Adobe® reader is available for download, if needed.

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Other SOI Data on Trusts

Form 5227 is an information return filed by split-interest trusts, those who make distributions to both charitable and noncharitable beneficiaries, while providing tax benefits to their donor. Form 1041 is the income tax return filed by fiduciaries to report income, distributions, and tax liability of estates and trusts.

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Microdata Files

Microdata are individual organization-level data that can be used for research purposes.

The data are contained in XML, ASCII flat files, Microsoft Excel spreadsheets and Adobe Acrobat PDF. Documentation to assist with the files is included. (Free Adobe Acrobat reader, WinZip utility, and Microsoft Excel viewer software is available for download, if needed.)
 

SOI Sample Data Files

This section contains microdata files for all Forms 990-PF sampled for the annual SOI studies of private foundations. The data for each of the annual studies are included in a comprehensive, "harmonized" dataset, with standardized variable names and codes based on the form revision of the latest available Tax Year.

The sample include returns filed by private foundations, exempt under Internal Revenue Code section 501(c)(3), and section 4947(a)(1) nonexempt charitable trusts. The stratified random samples are based on asset size and represent approximately 10 percent of Forms 990-PF filed; sampling rates of 100 percent are applied to large-asset classes. Microdata records contain most financial information from Forms 990-PF, as well as weights (to estimate the population), for each organization.

Available Data:  Tax Years 1985-2010 

Data Element Reference List

Click on one of the following links to access a page with links to data in the desired format.

         ASCII text     XML     

To make customized tables using these data, please visit the Statistics of Income Tax Stats Table Wizard.  
 

IRS Population Data

This page contains microdata files for all Forms 990, 990-EZ, and 990-PF returns filed by active organizations.  Data are from the IRS Exempt Organization Master File.

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Other IRS Data and Related Links

For tax administration data on this topic, as well as other types of taxes, choose from the links below.

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Page Last Reviewed or Updated: 14-Jan-2014

The How Do I File My 2012 Taxes Now

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