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I Need To File 2011 Taxes

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I Need To File 2011 Taxes

I need to file 2011 taxes 4. I need to file 2011 taxes   Retención de Impuestos e Impuesto Estimado Table of Contents Qué Hay de Nuevo para el Año 2014 Recordatorios Introduction Useful Items - You may want to see: Retención de Impuesto para el Año 2014Sueldos y Salarios Propinas Beneficios Marginales Tributables Compensación por Enfermedad Pensiones y Anualidades Ganancias Provenientes de Juegos de Azar y Apuestas Compensación por Desempleo Pagos del Gobierno Federal Retención Adicional Impuesto Estimado para el Año 2014Quién no Tiene que Pagar el Impuesto Estimado ¿Quién Tiene que Pagar Impuesto Estimado? Cómo Calcular el Impuesto Estimado Cuándo se Debe Pagar el Impuesto Estimado Cómo Determinar Cada Pago Cómo Pagar el Impuesto Estimado Crédito por Impuestos Retenidos e Impuesto Estimado para el Año 2013Retención Impuesto Estimado Multa por Pago Insuficiente de Impuestos para el Año 2013 Qué Hay de Nuevo para el Año 2014 Cambios en la ley tributaria para el año 2014. I need to file 2011 taxes  Al calcular la cantidad de impuestos que quiera que se retengan de su remuneración y al calcular la cantidad de impuesto estimado, tenga en cuenta los cambios en la ley tributaria que entrarán en vigor en 2014. I need to file 2011 taxes Para más información, vea la Publicación 505, en inglés. I need to file 2011 taxes Recordatorios Impuesto estimado con protección tributaria para contribuyentes de altos ingresos. I need to file 2011 taxes  Si su ingreso bruto ajustado del año 2013 fue mayor que $150,000 ($75,000 si es casado y presenta una declaración por separado), tiene que pagar el monto menor de uno de los siguientes: el 90% de su impuesto anticipado para el año 2014 o el 110% de la cantidad de impuesto indicada en su declaración de impuestos del año 2013, a fin de evitar una multa por no pagar el impuesto estimado. I need to file 2011 taxes Introduction Este capítulo explica cómo pagar impuestos cuando se devengan o reciben ingresos durante el año. I need to file 2011 taxes Generalmente, el impuesto federal sobre el ingreso es uno que se paga sistemáticamente según obtenga o gane ingresos. I need to file 2011 taxes Hay dos maneras de hacer esto: Retención del impuesto. I need to file 2011 taxes Si es empleado, su empleador probablemente le retiene de su paga impuestos sobre sus ingresos. I need to file 2011 taxes Los impuestos también pueden ser retenidos sobre otras clases de ingresos, tales como pensiones, bonificaciones, comisiones y ganancias de juegos y apuestas. I need to file 2011 taxes La cantidad retenida se paga al IRS a nombre suyo. I need to file 2011 taxes Impuesto estimado. I need to file 2011 taxes Si no le retienen impuestos, o si no le retienen suficientes impuestos, quizás tendrá que pagar un impuesto estimado. I need to file 2011 taxes Las personas que trabajan por cuenta propia generalmente tienen que pagar sus impuestos de esta manera. I need to file 2011 taxes Además es posible que tenga que pagar un impuesto estimado si recibe ingresos como dividendos, intereses, ganancias de capital, alquileres y regalías. I need to file 2011 taxes El impuesto estimado se usa para pagar no sólo los impuestos sobre el ingreso sino también los impuestos sobre el trabajo por cuenta propia y el impuesto mínimo alternativo. I need to file 2011 taxes Este capítulo trata sobre estos dos métodos. I need to file 2011 taxes Además, explica lo siguiente: Crédito por retención e impuesto estimado. I need to file 2011 taxes Cuando presente su declaración de impuestos para el año 2013, declare todo el impuesto sobre el ingreso que se le retuvo de su sueldo, salario, pensiones, etc. I need to file 2011 taxes y el impuesto estimado que pagó para el año 2013. I need to file 2011 taxes También tome crédito por todo impuesto del Seguro Social en exceso o retención tributaria de jubilación de empleados ferroviarios (tratado en el capítulo 37). I need to file 2011 taxes Multa por pago insuficiente. I need to file 2011 taxes Si no pagó suficientes impuestos durante el año por medio de la retención del impuesto o por pagos de impuestos estimados, podría estar obligado a pagar una multa. I need to file 2011 taxes El IRS usualmente puede calcularle esta multa. I need to file 2011 taxes Vea el tema titulado Multa por Pago Insuficiente de Impuestos para el Año 2013 al final de este capítulo. I need to file 2011 taxes Useful Items - You may want to see: Publicación 505 Tax Withholding and Estimated Tax (Retención del impuesto e impuesto estimado), en inglés Formulario (e Instrucciones) W-4 Employee's Withholding Allowance Certificate (Certificado de exención de la retención del empleado), en inglés W-4(SP) Certificado de Exención de Retenciones del Empleado W-4P Withholding Certificate for Pension or Annuity Payments (Certificado para la retención de impuestos sobre los pagos de pensiones o anualidades), en inglés W-4S Request for Federal Income Tax Withholding From Sick Pay (Solicitud de retención de impuestos federales sobre el ingreso de pagos de compensación por enfermedad), en inglés W-4V Voluntary Withholding Request (Solicitud de retención voluntaria), en inglés 1040-ES Estimated Tax for Individuals (Impuesto estimado para personas físicas), en inglés 2210 Underpayment of Estimated Tax by Individuals, Estates, and Trusts (Pagos insuficientes del impuesto estimado por personas físicas, caudales hereditarios y fideicomisos), en inglés 2210-F Underpayment of Estimated Tax by Farmers and Fishermen (Pagos insuficientes del impuesto estimado por granjeros y pescadores), en inglés Retención de Impuesto para el Año 2014 En esta sección se explica la retención de impuestos sobre: Sueldos y salarios, Propinas, Beneficios marginales tributables, Compensación por enfermedad, Pensiones y anualidades, Ganancias de juegos y apuestas, Compensación por desempleo y Ciertos pagos del gobierno federal. I need to file 2011 taxes Esta sección aborda los requisitos en cuanto a la retención sobre cada uno de los ingresos anteriores. I need to file 2011 taxes Esta sección también abarca la retención adicional sobre intereses, dividendos y otras clases de pagos. I need to file 2011 taxes Sueldos y Salarios Los impuestos sobre los ingresos se retienen de sueldos y salarios de la mayoría de los empleados. I need to file 2011 taxes Su sueldo o salario incluye su paga regular y remuneraciones por concepto de bonificaciones, comisiones, vacaciones u otras remuneraciones adicionales. I need to file 2011 taxes También incluye reembolsos y otras asignaciones para gastos pagados conforme a un plan sin rendición de cuentas. I need to file 2011 taxes Vea Ingresos Suplementarios , más adelante, para más información sobre reembolsos y otras asignaciones para gastos pagados conforme a un plan sin rendición de cuentas. I need to file 2011 taxes Si su ingreso es lo suficientemente bajo como para no tener que pagar impuestos sobre los ingresos del año en cuestión, quizás esté exento de retención. I need to file 2011 taxes Esto se explica en Exención de la Retención , más adelante. I need to file 2011 taxes Puede pedirle a su empleador que retenga el impuesto tributario de sus sueldos que no son en efectivo y otros sueldos que no están sujetos a la retención. I need to file 2011 taxes Si su empleador no accede a retener su impuesto o no retiene suficiente impuesto, quizás tendrá que pagar impuesto estimado, como se explica más adelante bajo Impuesto Estimado para el Año 2014 . I need to file 2011 taxes Militares jubilados. I need to file 2011 taxes   Los pagos de pensión por jubilación militar se tratan igual que la paga normal para propósitos de la retención de impuestos sobre los ingresos, aun cuando se consideren pagos de pensión o anualidad para otros propósitos tributarios. I need to file 2011 taxes Trabajadores domésticos. I need to file 2011 taxes   Si es trabajador doméstico, puede pedirle a su empleador que le retenga impuestos sobre sus ingresos. I need to file 2011 taxes Un trabajador doméstico es un empleado que cumple con trabajo doméstico en una casa privada, organización local de una institución académica de enseñanza superior, fraternidad local o capítulo de una asociación o hermandad femenina de una institución de enseñanza universitaria (sorority). I need to file 2011 taxes   Se le retendrán impuestos sólo si usted quiere que se le retengan y su empleador accede a hacerlo. I need to file 2011 taxes Si no se le retienen suficientes impuestos sobre el ingreso, es posible que tenga que pagar un impuesto estimado, como se explica más adelante bajo el tema titulado Impuesto Estimado para el Año 2014 . I need to file 2011 taxes Trabajadores agrícolas. I need to file 2011 taxes   Por lo general, los impuestos sobre los ingresos se retienen del salario en efectivo por trabajo agrícola a menos que el empleador cumpla las dos condiciones siguientes: Le paga una remuneración en efectivo inferior a $150 durante el año y Tiene gastos por concepto de trabajo agrícola de menos de $2,500 durante el año. I need to file 2011 taxes Pagos de sueldo diferenciales. I need to file 2011 taxes   Cuando los empleados están en permiso temporal (licencia) del trabajo por obligaciones militares, algunos empleadores pagan la diferencia entre el pago militar y el pago civil. I need to file 2011 taxes Pagos hechos a un empleado que está de servicio activo militar por más de 30 días estará sujeto a la retención del impuesto sobre los ingresos, pero no sujeto a los impuestos del Seguro Social o de Medicare. I need to file 2011 taxes Los salarios y la cantidad retenida serán declarados en el Formulario W-2, Wage and Tax Statement (Comprobante de salarios e impuestos), en inglés. I need to file 2011 taxes   El crédito que los empleadores pueden reclamar por el pago de sueldos diferenciales a militares reservistas que han sido activados expirará para sueldos pagados luego del 31 de diciembre de 2013. I need to file 2011 taxes Cómo Determinar la Cantidad Retenida Utilizando el Formulario W-4 (o Formulario W-4(SP)) La cantidad de impuestos sobre el ingreso que su empleador retiene de su remuneración normal depende de dos factores: La cantidad que usted gana en cada período de nómina. I need to file 2011 taxes La información que le proporciona a su empleador en el Formulario W-4(SP) (o Formulario W-4, en inglés). I need to file 2011 taxes El Formulario W-4(SP) (o Formulario W-4, en inglés) incluye cuatro categorías de información que el empleador utiliza para determinar la cantidad de impuestos a retener. I need to file 2011 taxes Si debe retener impuestos conforme a la tasa para solteros o a la tasa más baja para casados. I need to file 2011 taxes Cuántos descuentos para retención reclama usted. I need to file 2011 taxes (Cada descuento reduce la cantidad a retener). I need to file 2011 taxes Si quiere que se le retenga una cantidad adicional. I need to file 2011 taxes Por si está reclamando una exención de retención en 2014. I need to file 2011 taxes Vea Exención de la Retención , más adelante. I need to file 2011 taxes Nota: Tiene que especificar su estado civil para efectos de la declaración y el número total de descuentos para la retención al llenar el Formulario W-4(SP) (o Formulario W-4, en inglés). I need to file 2011 taxes No puede indicar sólo una cantidad en dólares que le parezca apropiada. I need to file 2011 taxes Empleo Nuevo Al empezar un empleo nuevo, tiene que llenar un Formulario W-4(SP) (o Formulario W-4, en inglés) y entregárselo a su empleador. I need to file 2011 taxes Su empleador debe tener ejemplares del formulario para darle. I need to file 2011 taxes Si tiene que cambiar la información en el futuro, tendrá que llenar otro Formulario W-4(SP) (o Formulario W-4, en inglés). I need to file 2011 taxes Si trabaja solamente una parte del año (por ejemplo, comienza a trabajar después del principio del año), es posible que se le retengan demasiados impuestos. I need to file 2011 taxes Quizás pueda evitar la retención excesiva de impuestos si su empleador accede a utilizar el método de retención de impuestos durante sólo parte del año. I need to file 2011 taxes Para más información, vea Part-Year Method (Método de año parcial), en el capítulo 1 de la Publicación 505, en inglés. I need to file 2011 taxes Empleado que también recibe ingresos de alguna pensión. I need to file 2011 taxes   Si recibe ingresos procedentes de una pensión o anualidad y empieza un trabajo nuevo, tendrá que entregar un Formulario W-4(SP) (o Formulario W-4, en inglés) a su nuevo empleador. I need to file 2011 taxes No obstante, puede optar por dividir entre su pensión y trabajo los descuentos para la retención, según le convenga. I need to file 2011 taxes Cómo Cambiar la Retención Durante el año pueden ocurrir cambios que pueden modificar su estado civil o la cantidad de exenciones, ajustes, deducciones o créditos que podría reclamar en su declaración de impuestos. I need to file 2011 taxes Cada vez que esto ocurra, quizás tenga que entregarle a su empleador un Formulario W-4(SP) (o Formulario W-4, en inglés) nuevo para cambiar su estado para fines de la retención o su número de descuentos para la misma. I need to file 2011 taxes Si los cambios reducen la cantidad de descuentos que usted está reclamando o cambia su estado civil de casado a soltero, tiene que entregarle a su empleador un Formulario W-4(SP) (o Formulario W-4, en inglés) nuevo dentro de 10 días. I need to file 2011 taxes Por regla general, puede llenar un Formulario W-4(SP) (o Formulario W-4, en inglés) nuevo cada vez que desee cambiar su número de descuentos para la retención por cualquier otra razón. I need to file 2011 taxes Cómo cambiar su retención de impuestos para el año 2015. I need to file 2011 taxes   Si alguna circunstancia durante 2014 disminuye el número de descuentos para la retención de impuestos durante el año 2015, debe entregarle a su empleador un Formulario W-4(SP) (o Formulario W-4, en inglés) nuevo a más tardar el 1 de diciembre del año 2014. I need to file 2011 taxes Si dicha situación ocurre en diciembre de 2014, entrégueselo dentro de 10 días a partir de la fecha del evento. I need to file 2011 taxes Cómo Verificar la Retención de Impuestos Después de entregarle a su empleador el Formulario W-4(SP) (o Formulario W-4, en inglés), puede verificar si la cantidad de impuestos que se retienen de su sueldo o salario es excesiva o insuficiente. I need to file 2011 taxes Si se le retienen impuestos excesivos o insuficientes, debe entregarle a su empleador un Formulario W-4(SP) (o Formulario W-4, en inglés) nuevo, para cambiar la cantidad a retener. I need to file 2011 taxes Debe tratar que la cantidad que le retengan de su sueldo o salario sea igual al monto de los impuestos por los cuales será responsable. I need to file 2011 taxes Si no le retienen suficientes impuestos, al final del año adeudará impuestos y podría tener que pagar intereses y multas. I need to file 2011 taxes Si la cantidad de impuestos que le retienen es excesiva, no podrá utilizar el dinero hasta que reciba el reembolso. I need to file 2011 taxes Siempre verifique la retención si ocurren cambios personales o financieros en su vida o cambios en la ley que puedan modificar su responsabilidad tributaria. I need to file 2011 taxes Nota: No puede hacerle un pago a su empleador para compensar por retenciones de impuestos en salarios y sueldos correspondientes a períodos de paga anteriores o para pagar su impuesto estimado. I need to file 2011 taxes Cómo Completar el Formulario W-4(SP) (o Formulario W-4, en inglés) y las Hojas de Trabajo Correspondientes El Formulario W-4(SP) (o Formulario W-4, en inglés) tiene unas hojas de trabajo que le ayudan a calcular los descuentos para la retención de impuestos que puede declarar. I need to file 2011 taxes Dichas hojas de trabajo son para su documentación. I need to file 2011 taxes No se las dé a su empleador. I need to file 2011 taxes Empleos múltiples. I need to file 2011 taxes   Si tiene ingresos de más de un empleo simultáneamente, complete sólo un juego de hojas de trabajo para el Formulario W-4(SP) (o Formulario W-4, en inglés). I need to file 2011 taxes Luego divida los descuentos entre los Formularios W-4(SP) (o Formularios W-4, en inglés) que llene para cada empleo. I need to file 2011 taxes No se pueden declarar los mismos descuentos para más de un empleador a la vez. I need to file 2011 taxes Puede declarar todos los descuentos de un solo empleador y no de los demás, o puede dividirlos de cualquier otra manera. I need to file 2011 taxes Personas casadas. I need to file 2011 taxes   Si usted y su cónyuge trabajan y van a presentar una declaración conjunta, calcule sus descuentos para la retención basándose en sus ingresos, ajustes, deducciones, exenciones y créditos conjuntos. I need to file 2011 taxes Utilice un solo juego de hojas de trabajo. I need to file 2011 taxes Usted y su cónyuge pueden dividir los descuentos como quieran; sin embargo, no puede reclamar el mismo descuento que su cónyuge. I need to file 2011 taxes   Si usted y su cónyuge van a presentar declaraciones de impuestos por separado, tienen que calcular sus descuentos en hojas de trabajo separadas, basándose en sus propios ingresos, ajustes, deducciones, exenciones y créditos. I need to file 2011 taxes Método alternativo de cálculo de los descuentos para la retención de impuestos. I need to file 2011 taxes   No es obligatorio utilizar las hojas de trabajo del Formulario W-4(SP) (o Formulario W-4, en inglés) si usted utiliza otro método más exacto para determinar el número de descuentos para la retención. I need to file 2011 taxes Para más información, vea Alternative method of figuring withholding allowances (Método alternativo para determinar los descuentos para la retención), bajo Completing Form W-4 and Worksheets (Cómo llenar el Formulario W-4 y sus hojas de trabajo), en el capítulo 1 de la Publicación 505, en inglés. I need to file 2011 taxes Hoja de Trabajo para Calcular los Descuentos Personales. I need to file 2011 taxes   Utilice la Hoja de Trabajo para Descuentos Personales del Formulario W-4(SP) (o la Personal Allowances Worksheet del Formulario W-4, en inglés) para determinar los descuentos para la retención basándose en las exenciones y cualquier descuento pertinente especial que aplique. I need to file 2011 taxes Hoja de Trabajo para las Deducciones y los Ajustes. I need to file 2011 taxes   Utilice la Hoja de Trabajo para Deducciones y Ajustes del Formulario W-4(SP) (o la Deductions and Adjustments Worksheet del Formulario W-4, en inglés) si piensa detallar las deducciones, reclamar ciertos créditos o deducir ajustes a los ingresos indicados en la declaración de impuestos del año 2014 y desea reducir su impuesto retenido. I need to file 2011 taxes Complete esta hoja de trabajo también en el caso de cambios en alguna de estas partidas para ver si necesita cambiar la cantidad que se le debe retener. I need to file 2011 taxes Hoja de Trabajo para Dos Asalariados/Múltiples Empleos. I need to file 2011 taxes   Puede tener que llenar la Hoja de Trabajo para Dos Asalariados/Múltiples Empleos del Formulario W-4(SP) (o la Two Earners/Multiple Jobs Worksheet del Formulario W-4, en inglés) si tiene más de un empleo, un cónyuge que trabaja o si usted está recibiendo distribuciones de una pensión. I need to file 2011 taxes Puede además agregar, si corresponde, en esta hoja de trabajo, toda retención adicional necesaria para incluir toda cantidad que espere adeudar, aparte del impuesto sobre los ingresos (por ejemplo, el impuesto sobre el ingreso del trabajo por cuenta propia). I need to file 2011 taxes Cómo Calcular la Cantidad Correcta de Impuesto Retenido En la mayoría de los casos, el impuesto retenido de su paga se aproximará al impuesto que usted declare si cumple los dos requisitos siguientes: Llena correctamente todas las hojas de trabajo del Formulario W-4(SP) (o Formulario W-4, en inglés) que le correspondan. I need to file 2011 taxes Entrega a su empleador un Formulario W-4(SP) (o Formulario W-4, en inglés) nuevo cada vez que ocurra un cambio que afecte la retención de impuestos. I need to file 2011 taxes Sin embargo, ya que las hojas de trabajo y los métodos de retención no abarcan todas las circunstancias que puedan ocurrir, puede ser que no se le retenga la cantidad correcta de impuestos. I need to file 2011 taxes Es más probable que esto ocurra en los casos siguientes: Está casado y usted y su cónyuge trabajan. I need to file 2011 taxes Tiene más de un empleo a la vez. I need to file 2011 taxes Recibió ingresos no derivados del trabajo, como intereses, dividendos, pensión alimenticia del cónyuge o ex cónyuge, compensación por desempleo e ingresos del trabajo por cuenta propia. I need to file 2011 taxes Adeudará impuestos adicionales al presentar su declaración de impuestos, como el impuesto sobre el ingreso del trabajo por cuenta propia. I need to file 2011 taxes Se le retienen impuestos basados en información obsoleta de un Formulario W-4(SP) (o Formulario W-4, en inglés) durante la mayor parte del año. I need to file 2011 taxes Ha ganado más de la cantidad que aparece en Revise su retención en la parte superior de la página 1 de las instrucciones del Formulario W-4(SP) (o bajo Check your withholding, en la parte superior de la página 1 de las instrucciones del Formulario W-4, en inglés). I need to file 2011 taxes Trabaja sólo durante una parte del año. I need to file 2011 taxes Cambia el número de descuentos para la retención durante el año. I need to file 2011 taxes Método de salarios acumulados. I need to file 2011 taxes   Si durante el año cambió el número de descuentos para la retención, es posible que se le hayan retenido demasiados o insuficientes impuestos durante el período anterior al cual se hizo el cambio. I need to file 2011 taxes Puede compensar esta situación si su empleador accede a utilizar el método de retención de salarios acumulados durante el resto del año. I need to file 2011 taxes Si desea utilizar este método, debe solicitárselo por escrito a su empleador. I need to file 2011 taxes   Para poder usar este método se le debe haber pagado su salario usando el mismo tipo de período de pago (semanal, bisemanal, etc. I need to file 2011 taxes ) desde el principio del año. I need to file 2011 taxes Publicación 505 Para asegurar que se le retenga la cantidad correcta de impuestos, obtenga la Publicación 505, en inglés. I need to file 2011 taxes Ésta le ayudará a comparar el impuesto retenido durante el año con el impuesto declarado en su declaración. I need to file 2011 taxes Le ayudará también a determinar cuánto impuesto adicional necesitará que se le retenga, si corresponde, durante cada período o fecha de pago para evitar adeudar impuestos adicionales al presentar su declaración. I need to file 2011 taxes Si no se le retienen suficientes impuestos, puede tener que hacer pagos de impuestos estimados, tal como se explica bajo Impuesto Estimado para el Año 2014 , más adelante. I need to file 2011 taxes Puede utilizar la Calculadora de Retenciones (conocida en inglés como “IRS Withholding Calculator”) del IRS en www. I need to file 2011 taxes irs. I need to file 2011 taxes gov/Individuals, disponible en inglés, en vez de la Publicación 505 o las hojas de trabajo incluidas con el Formulario W-4(SP) para determinar si necesita aumentar o disminuir su retención de impuestos. I need to file 2011 taxes Requisitos que Debe Cumplir su Empleador Le convendría conocer algunos de los requisitos para la retención que su empleador tiene que cumplir. I need to file 2011 taxes Dichos requisitos podrían afectar su manera de completar el Formulario W-4(SP) (o Formulario W-4, en inglés) y cómo resolver posibles problemas. I need to file 2011 taxes Formulario W-4(SP) (o Formulario W-4, en inglés) nuevo. I need to file 2011 taxes   Al comenzar un empleo nuevo, su empleador debe hacer que usted complete un Formulario W-4(SP) (o Formulario W-4, en inglés). I need to file 2011 taxes A partir de su primer pago, el empleador usará la información facilitada en el formulario para determinar la cantidad que tiene que retenerle. I need to file 2011 taxes   Si más adelante llena un Formulario W-4(SP) (o Formulario W-4, en inglés) nuevo, su empleador puede ponerlo en vigor cuanto antes. I need to file 2011 taxes La fecha límite para ponerlo en vigor será el comienzo del primer período de nómina que termine dentro de los 30 días o más después de que usted le entregue el formulario al empleador. I need to file 2011 taxes Ningún Formulario W-4(SP) (o Formulario W-4, en inglés). I need to file 2011 taxes   Si no le entrega a su empleador un Formulario W-4(SP) (o Formulario W-4, en inglés) debidamente completado, él tiene que retenerle el impuesto a la tasa más alta, o sea, como soltero sin descuentos para la retención. I need to file 2011 taxes Devolución del impuesto retenido. I need to file 2011 taxes   Si descubre que se le han retenido demasiados impuestos porque no declaró todos los descuentos a los cuales tiene derecho, debería entregarle a su empleador un Formulario W-4(SP) (o Formulario W-4, en inglés) nuevo. I need to file 2011 taxes El empleador no puede reembolsarle impuesto alguno retenido anteriormente. I need to file 2011 taxes En lugar de esto, declare la cantidad completa que se le retuvo cuando presente la declaración de impuestos. I need to file 2011 taxes   No obstante, si su empleador le ha retenido impuestos superiores a la cantidad correcta según el Formulario W-4(SP) (o Formulario W-4, en inglés) ya vigente, no tiene que llenar otro formulario nuevo para reducir la cantidad de impuestos a retener. I need to file 2011 taxes Su empleador puede devolverle la cantidad que le fue retenida erróneamente. I need to file 2011 taxes Si no le devuelve esa cantidad, su Formulario W-2 mostrará la cantidad total realmente retenida, la cual usted reclamaría cuando presenta su declaración. I need to file 2011 taxes Exención de la Retención Si declara una exención de la retención de impuestos, su empleador no le retendrá el impuesto federal sobre el ingreso de su sueldo o salario. I need to file 2011 taxes La exención corresponde únicamente al impuesto sobre el ingreso, no al impuesto del Seguro Social ni al Medicare. I need to file 2011 taxes Puede reclamar una exención de retención durante 2014 sólo si se dan las dos condiciones siguientes: Para el año 2013 tuvo derecho a recibir un reembolso o una devolución de todos los impuestos federales sobre el ingreso retenidos porque no estuvo obligado a pagar impuestos ese año. I need to file 2011 taxes Para el año 2014 espera recibir un reembolso o una devolución de todos los impuestos federales sobre el ingreso retenidos porque no espera adeudar ningún impuesto durante ese año. I need to file 2011 taxes Estudiantes. I need to file 2011 taxes   Si es estudiante, no está automáticamente exento de pagar impuestos. I need to file 2011 taxes Vea el capítulo 1 para averiguar si debe presentar una declaración. I need to file 2011 taxes Si trabaja a tiempo parcial o sólo durante el verano, quizás tenga derecho a recibir una exención de retención. I need to file 2011 taxes Personas de un mínimo de 65 años de edad o ciegas. I need to file 2011 taxes   Si tiene 65 años o más o está ciego, utilice la Hoja de Trabajo 1-3 ó 1-4 del capítulo 1 de la Publicación 505, para ayudarle a decidir si puede reclamar una exención de retención. I need to file 2011 taxes No utilice ninguna de las hojas de trabajo si va a detallar las deducciones, declarar exenciones por dependientes o reclamar créditos tributarios en su declaración del año 2014. I need to file 2011 taxes En lugar de ello, vea Itemizing deductions or claiming exemptions or credits (Cómo detallar deducciones o reclamar exenciones por dependientes o créditos tributarios), en el capítulo 1 de la Publicación 505, en inglés. I need to file 2011 taxes Cómo reclamar una exención de la retención. I need to file 2011 taxes   Para poder reclamar esta exención, tiene que darle a su empleador un Formulario W-4(SP) (o Formulario W-4, en inglés). I need to file 2011 taxes No complete las líneas 5 ni 6. I need to file 2011 taxes Escriba, en inglés, la palabra “ Exempt ” (Exento) en la línea 7. I need to file 2011 taxes   Si reclama una exención, pero luego su situación cambia de tal manera que debe pagar impuestos sobre el ingreso, tiene que presentar un Formulario W-4(SP) (o Formulario W-4, en inglés) nuevo dentro de los 10 días siguientes al cambio. I need to file 2011 taxes Si reclama la exención para 2014, pero anticipa que va a adeudar impuestos sobre el ingreso en 2015, tendrá que llenar un Formulario W-4(SP) (o Formulario W-4, en inglés) nuevo para el 1 de diciembre del año 2014. I need to file 2011 taxes   Su declaración de exención de la retención puede ser revisada por el IRS. I need to file 2011 taxes La exención será válida únicamente por un año. I need to file 2011 taxes   Tiene que darle a su empleador un Formulario W-4(SP) (o Formulario W-4, en inglés) nuevo para el 15 de febrero de cada año si desea prorrogar la exención. I need to file 2011 taxes Ingresos Suplementarios Los salarios suplementarios incluyen las remuneraciones por concepto de bonificaciones, comisiones, paga por trabajar horas extras (overtime), vacaciones, cierta compensación por enfermedad y remuneraciones por gastos de acuerdo con determinados planes. I need to file 2011 taxes El pagador puede calcular la retención sobre los ingresos suplementarios utilizando el método que se utilizó para los sueldos y salarios normales. I need to file 2011 taxes No obstante, si estos pagos se calculan aparte de sus sueldos y salarios normales, su empleador u otro pagador de dichos ingresos puede retenerle impuestos sobre el ingreso del trabajo de estos ingresos a una tasa uniforme. I need to file 2011 taxes Remuneraciones por gastos del empleado. I need to file 2011 taxes   Los reembolsos u otras remuneraciones de gastos del empleado pagados por su empleador de acuerdo con un plan sin rendición de cuentas directamente a su empleador (nonaccountable plan) se consideran ingresos suplementarios. I need to file 2011 taxes   Los reembolsos u otras remuneraciones por gastos del empleado pagados de acuerdo con un plan de reembolsos con rendición de cuentas (accountable plan), que superen los gastos demostrados se consideran pagados de acuerdo con un plan de reembolsos sin rendición de cuentas a su empleador si usted no devuelve el exceso pagado dentro de un período razonable. I need to file 2011 taxes   Para más detalles sobre los planes de reembolsos con y sin rendición de cuentas al empleador, vea Reembolsos en el capítulo 26. I need to file 2011 taxes Multas Es posible que tenga que pagar una multa de $500 si se dan las dos condiciones siguientes: Declara descuentos para la retención en el Formulario W-4(SP) (o Formulario W-4, en inglés) que reducen la cantidad total de impuestos retenidos. I need to file 2011 taxes No tiene ninguna razón que justifique esas declaraciones o descuentos al preparar el Formulario W-4(SP) (o Formulario W-4, en inglés). I need to file 2011 taxes Se puede imponer también una multa por delito penal por facilitar información falsa o fraudulenta intencionalmente en el Formulario W-4(SP) (o Formulario W-4, en inglés) o por no facilitar información intencionalmente que podría aumentar la cantidad retenida. I need to file 2011 taxes La multa, si se demuestra su culpabilidad, puede ser de hasta $1,000 o encarcelamiento por un máximo de 1 año, o ambos. I need to file 2011 taxes Estas multas le corresponderán si falsifica intencionalmente y con conocimiento el Formulario W-4(SP) (o Formulario W-4, en inglés) para tratar de reducir o eliminar la retención correcta de impuestos. I need to file 2011 taxes Un simple error o una equivocación inocente no resultará en la imposición de dichas multas. I need to file 2011 taxes Por ejemplo, una persona que ha tratado de calcular correctamente el número de descuentos para la retención, pero declara siete descuentos en lugar del número correcto de seis, no tendrá que pagar una multa relacionada con el Formulario W-4(SP) (o Formulario W-4, en inglés). I need to file 2011 taxes Propinas Las propinas que reciba en su empleo mientras trabaja se consideran parte de su sueldo. I need to file 2011 taxes Tiene que incluir las propinas que reciba en su declaración de impuestos en la misma línea en la que incluya su sueldo, salario, etcétera. I need to file 2011 taxes No se retienen impuestos directamente de sus propinas, como se hace en el caso de su sueldo, salario, etcétera. I need to file 2011 taxes No obstante, su empleador tendrá en cuenta las propinas que declare para calcular la cantidad de impuestos que deberá retenerle de su salario normal. I need to file 2011 taxes Vea el capítulo 6 para obtener información sobre cómo declarar las propinas a su empleador. I need to file 2011 taxes Para más información acerca de los requisitos para la retención de impuestos sobre las propinas, vea la Publicación 531, Reporting Tip Income (Cómo declarar el ingreso de propinas), en inglés. I need to file 2011 taxes Cómo determina su empleador la cantidad que debe retener. I need to file 2011 taxes   Las propinas que usted declara a su empleador se incluyen en su ingreso total para el mes en el cual las declara. I need to file 2011 taxes Su empleador puede calcular la cantidad que debe retenerle de una de las siguientes maneras: Retención del impuesto a la tasa normal sobre la cantidad resultante de sumar su salario normal y las propinas declaradas. I need to file 2011 taxes Retención del impuesto a la tasa normal sobre su salario normal, más un porcentaje de sus propinas declaradas. I need to file 2011 taxes Salario insuficiente para pagar los impuestos. I need to file 2011 taxes   Si su salario regular es insuficiente para que su empleador pueda retenerle todos los impuestos que usted adeude sobre su paga, más propinas (incluyendo impuestos sobre el ingreso y los impuestos del Seguro Social y Medicare (o el impuesto equivalente de la jubilación ferroviaria)), puede darle al empleador el dinero necesario para pagar los impuestos adeudados. I need to file 2011 taxes Vea Entrega de dinero al empleador para el pago de los impuestos en el capítulo 6. I need to file 2011 taxes Propinas asignadas. I need to file 2011 taxes   Su empleador no debe retener de sus propinas asignadas impuesto sobre los ingresos ni los impuestos del Medicare, Seguro Social, o la jubilación ferroviaria. I need to file 2011 taxes La retención de dichos impuestos se basa únicamente en su salario más las propinas declaradas. I need to file 2011 taxes Su empleador debe devolverle toda cantidad de impuesto retenida erróneamente de su paga. I need to file 2011 taxes Vea el tema titulado Asignación de Propinas , en el capítulo 6, para más información. I need to file 2011 taxes Beneficios Marginales Tributables El valor de ciertos beneficios marginales no monetarios que reciba de su empleador se considera parte de su paga. I need to file 2011 taxes Su empleador generalmente le debe retener de su paga regular los impuestos sobre el ingreso. I need to file 2011 taxes Para información sobre los beneficios marginales, vea Beneficios Marginales bajo Remuneración del Empleado, en el capítulo 5. I need to file 2011 taxes Aunque el valor del uso personal de un automóvil, camión u otro vehículo motorizado que utilice en las carreteras y que le provea su empleador esté sujeto a impuestos, su empleador puede optar por no retener impuestos sobre esa cantidad. I need to file 2011 taxes Su empleador debe notificarle si opta por hacerlo. I need to file 2011 taxes Para más información acerca de la retención de impuestos sobre los beneficios marginales tributables, vea el capítulo 1 de la Publicación 505, en inglés. I need to file 2011 taxes Compensación por Enfermedad El término “compensación por enfermedad” es el pago que usted recibe para reemplazar su salario o sueldo regular mientras está ausente del trabajo temporalmente debido a una enfermedad o lesión. I need to file 2011 taxes Para considerarse compensación por enfermedad, ésta deberá ser pagada conforme a un plan en el cual participa su empleador. I need to file 2011 taxes Si recibe compensación por enfermedad de su empleador, o de un agente del mismo, se le deben retener impuestos sobre el ingreso. I need to file 2011 taxes Un agente que no le pague a usted salario regular puede optar por retenerle impuestos sobre el ingreso a una tasa uniforme. I need to file 2011 taxes Sin embargo, si recibe compensación por enfermedad de un tercero que no sea agente o representante de su empleador, le retendrán impuestos sobre el ingreso únicamente si usted lo solicita. I need to file 2011 taxes Vea Formulario W-4S , más adelante. I need to file 2011 taxes Si recibe compensación por enfermedad de un plan en el cual su empleador no participa (como un plan de protección de salud o contra accidentes en el cual usted paga todas las primas), los pagos que reciba no son considerados compensación por enfermedad y, por lo general, no están sujetos a impuestos. I need to file 2011 taxes Convenios sindicales. I need to file 2011 taxes   Si recibe compensación por enfermedad de acuerdo a un convenio colectivo del trabajo entre el sindicato al que usted pertenece y su empleador, el convenio podría determinar la cantidad de impuestos sobre el ingreso a retener. I need to file 2011 taxes Consulte a su delegado o representante sindical o a su empleador para más información. I need to file 2011 taxes Formulario W-4S. I need to file 2011 taxes   Si opta por que se le retengan impuestos sobre el ingreso de la compensación por enfermedad pagada por un tercero, por ejemplo, una compañía de seguros, tiene que llenar el Formulario W-4S. I need to file 2011 taxes Las instrucciones del formulario contienen una hoja de trabajo que puede utilizar para determinar la cantidad que quiere que se le retenga. I need to file 2011 taxes Dichas instrucciones explican también ciertas restricciones que pueden corresponderle. I need to file 2011 taxes   Entregue el formulario completado a la entidad que pague su compensación por enfermedad. I need to file 2011 taxes Dicha entidad debe retenerle impuestos según las instrucciones indicadas en el formulario. I need to file 2011 taxes Impuesto estimado. I need to file 2011 taxes   Si no solicita la retención de impuestos en el Formulario W-4S o si no se le han retenido suficientes impuestos, quizás tenga que pagar impuesto estimado. I need to file 2011 taxes Si no paga suficientes impuestos mediante pagos de impuesto estimado o si no se le retienen suficientes impuestos, o si se dan los dos casos, quizás tenga que pagar una multa. I need to file 2011 taxes Vea Multa por Pago Insuficiente de Impuestos para el Año 2013 , al final de este capítulo. I need to file 2011 taxes Pensiones y Anualidades Por lo general, se retienen impuestos sobre el ingreso de las distribuciones de su pensión o anualidad, a menos que usted solicite que no se los retengan. I need to file 2011 taxes Esta regla corresponde a distribuciones de: Un arreglo de ahorros para la jubilación (IRA, por sus siglas en inglés) tradicional; Una compañía o sociedad de seguros de vida de acuerdo con un contrato dotal, anualidad o un contrato de seguros de vida; Un sistema de pensión, anualidad o participación en las ganancias; Un plan de bonificación de acciones; y Cualquier otro plan que aplace el período en el que puede recibir remuneraciones. I need to file 2011 taxes La cantidad a retener depende de cómo reciba los pagos. I need to file 2011 taxes Es decir, si los recibe durante más de un solo año (pagos periódicos), dentro del plazo de un año (pagos no periódicos) o como una distribución con derecho a reinversión (ERD, por sus siglas en inglés). I need to file 2011 taxes La retención de impuesto sobre los ingresos de una ERD es obligatoria. I need to file 2011 taxes Información adicional. I need to file 2011 taxes    Para más información sobre la tributación de anualidades y distribuciones (incluyendo distribuciones con derecho a reinversión) de planes de jubilación calificados, vea el capítulo 10. I need to file 2011 taxes Para más detalles sobre los arreglos IRA, vea el capítulo 17. I need to file 2011 taxes Para más información sobre la retención de impuestos de las pensiones y anualidades, incluyendo una explicación del Formulario W-4P, vea Pensions and Annuities (Pensiones y anualidades) en el capítulo 1 de la Publicación 505, en inglés. I need to file 2011 taxes Ganancias Provenientes de Juegos de Azar y Apuestas Se retienen impuestos sobre el ingreso proveniente de ciertas ganancias de juegos de azar y apuestas a una tasa uniforme del 25%. I need to file 2011 taxes Las ganancias de juegos de azar y apuestas superiores a $5,000 que resulten de las fuentes siguientes están sujetas a la retención de impuestos sobre los ingresos: Todo concurso, convenio de grupos de apostadores, incluidos pagos efectuados a ganadores de torneos de póquer o lotería. I need to file 2011 taxes Toda otra clase de apuesta, si las ganancias son por lo menos 300 veces mayores a la cantidad de la apuesta. I need to file 2011 taxes No importa si se pagan las ganancias en efectivo, en bienes o como anualidad. I need to file 2011 taxes Las ganancias que no se paguen en efectivo se toman en cuenta según su valor justo de mercado. I need to file 2011 taxes Excepción. I need to file 2011 taxes   Las ganancias de juegos de bingo, keno o de máquinas tragamonedas, por regla general, no están sujetas a la retención de impuestos. I need to file 2011 taxes No obstante, es posible que tenga que facilitarle al pagador su número de Seguro Social si quiere evitar la retención de impuestos. I need to file 2011 taxes Vea Backup withholding on gambling winnings (Retención adicional sobre las ganancias de juegos de azar y apuestas), en el capítulo 1 de la Publicación 505, en inglés. I need to file 2011 taxes Si recibió ganancias de juegos y apuestas que no estuvieron sujetas a retención, quizás tenga que pagar el impuesto estimado. I need to file 2011 taxes Vea Impuesto Estimado para el Año 2014 , más adelante. I need to file 2011 taxes Si no paga suficientes impuestos mediante la retención o pagos de impuesto estimado, o ambos, puede estar sujeto a una multa. I need to file 2011 taxes Vea Multa por Pago Insuficiente de Impuestos para el Año 2013 , al final de este capítulo. I need to file 2011 taxes Formulario W-2G. I need to file 2011 taxes   Si un pagador le retiene impuestos sobre el ingreso de sus ganancias de juegos de azar y apuestas, éste debe enviarle un Formulario W-2G, Certain Gambling Winnings (Ciertas ganancias de juegos de azar y apuestas), en inglés, en el cual se muestra la cantidad que usted ganó, así como la cantidad de impuestos retenidos. I need to file 2011 taxes Declare los impuestos retenidos en la línea 62 del Formulario 1040. I need to file 2011 taxes Compensación por Desempleo Puede optar por que se le retengan impuestos sobre los ingresos de su compensación por desempleo. I need to file 2011 taxes Para hacerlo, tiene que llenar el Formulario W-4V, en inglés (o un formulario similar facilitado por el pagador) y enviárselo al mismo. I need to file 2011 taxes Toda compensación por desempleo está sujeta a impuestos. I need to file 2011 taxes De modo que, si no se le retienen suficientes impuestos sobre los ingresos, quizás tenga que pagar impuestos estimados. I need to file 2011 taxes Vea Impuesto Estimado para el Año 2014 , más adelante. I need to file 2011 taxes Si no paga suficientes impuestos mediante la retención o pagos de impuesto estimado, o ambos, puede estar sujeto a una multa. I need to file 2011 taxes Vea Multa por Pago Insuficiente de Impuestos para el Año 2013 , al final de este capítulo, para más información. I need to file 2011 taxes Pagos del Gobierno Federal Puede elegir que se le retengan impuestos sobre los ingresos de ciertos pagos que reciba del gobierno federal. I need to file 2011 taxes Estos pagos incluyen: Prestaciones del Seguro Social, Prestaciones de la jubilación ferroviaria del nivel 1 (tier 1), Préstamos de crédito sobre mercancías de productos de una corporación que decida incluir en sus ingresos brutos, Pagos recibidos de acuerdo con la Agricultural Act of 1949 (Ley Agrícola de 1949) (7 U. I need to file 2011 taxes S. I need to file 2011 taxes C. I need to file 2011 taxes 1421 et. I need to file 2011 taxes seq. I need to file 2011 taxes ) como enmendada, o con el Título II de la Disaster Assistance Act of 1988 (Ley de Asistencia en Caso de Desastre de 1988), que se consideren pagos de seguros y que se reciban por uno de los siguientes motivos: Sus cultivos fueron destruidos o gravemente dañados por sequía, inundación u otro tipo de desastre natural o No pudo sembrar cultivos por uno de los desastres naturales descritos en el punto (a) y Todo otro pago conforme a la ley federal según determinado por el Secretario. I need to file 2011 taxes Para elegir esta retención, tendrá que llenar el Formulario W-4V, en inglés (u otro documento similar facilitado por el pagador) y enviárselo al mismo. I need to file 2011 taxes Si no elige que se le retengan impuestos sobre los ingresos, quizás tenga que pagar el impuesto estimado. I need to file 2011 taxes Vea Impuesto Estimado para el Año 2014 , más adelante. I need to file 2011 taxes Si no paga suficientes impuestos mediante la retención o pagos de impuesto estimado, o ambos, puede estar sujeto a una multa. I need to file 2011 taxes Vea Multa por Pago Insuficiente de Impuestos para el Año 2013 , al final de este capítulo, para más información. I need to file 2011 taxes Información adicional. I need to file 2011 taxes   Para más información sobre la tributación de los beneficios del Seguro Social y de la jubilación ferroviaria, vea el capítulo 11. I need to file 2011 taxes Obtenga la Publicación 225, Farmer's Tax Guide (Guía tributaria para los agricultores), en inglés, si desea más información acerca de la tributación de los préstamos de la Commodity Credit Corporation (Sociedad Anónima de Productos Agrícolas o CCC, por sus siglas en inglés) y pagos de asistencia en caso de desastre por la destrucción de cultivos. I need to file 2011 taxes Retención Adicional Los bancos u otras empresas que le paguen ciertos tipos de ingresos tienen que presentar una declaración informativa (Formulario 1099) al IRS. I need to file 2011 taxes Una declaración informativa indica cuántos ingresos se le pagaron a usted durante el año. I need to file 2011 taxes Este formulario muestra también su nombre y número de identificación del contribuyente (TIN, por sus siglas en inglés). I need to file 2011 taxes En el capítulo 1, bajo Número de Seguro Social , se explica el número de identificación del contribuyente (TIN). I need to file 2011 taxes Por regla general, esos pagos no están sujetos a la retención de impuestos. I need to file 2011 taxes No obstante, se requiere una retención “adicional” en ciertas circunstancias. I need to file 2011 taxes Esta retención adicional puede corresponder a la mayoría de los pagos que se declaren en el Formulario 1099. I need to file 2011 taxes El pagador debe retenerle el impuesto a una tasa uniforme del 28% en las situaciones siguientes: Usted no facilita su TIN al pagador tal como corresponde. I need to file 2011 taxes El IRS notifica al pagador que el TIN que usted le dio es incorrecto. I need to file 2011 taxes Usted está obligado a certificar que no está sujeto a la retención adicional de impuestos, pero no lo hace. I need to file 2011 taxes El IRS notifica al pagador que empiece a retener impuestos sobre sus intereses o dividendos porque usted declaró cantidades insuficientes de dichos intereses o dividendos en su declaración de impuestos. I need to file 2011 taxes El IRS tomará esta medida únicamente después de haberle enviado por lo menos cuatro avisos en un período de al menos 210 días. I need to file 2011 taxes Vea Backup Withholding (Retención adicional), en el capítulo 1 de la Publicación 505, en inglés, para más información. I need to file 2011 taxes Multas. I need to file 2011 taxes   Hay multas civiles y penales por entregar información falsa con intención de evitar la retención adicional de impuestos. I need to file 2011 taxes La multa civil es $500. I need to file 2011 taxes La multa penal, si se demuestra su culpabilidad, puede ser de hasta $1,000 o encarcelamiento por un máximo de un año, o ambas. I need to file 2011 taxes Impuesto Estimado para el Año 2014 El impuesto estimado es el método que se utiliza para pagar impuestos sobre el ingreso que no está sujeto a retención. I need to file 2011 taxes Este tipo de ingreso incluye los ingresos del trabajo por cuenta propia, intereses, dividendos, pensión alimenticia del cónyuge o ex cónyuge, alquiler, ganancias resultantes de la venta de bienes, premios y concesiones. I need to file 2011 taxes Es posible que tenga que pagar impuesto estimado si la cantidad de impuestos retenida de su sueldo, salario, pensión o cualquier otra clase de remuneración no es suficiente. I need to file 2011 taxes Se utiliza el impuesto estimado para pagar impuestos sobre los ingresos e impuestos sobre el ingreso del trabajo por cuenta propia, así como otros impuestos y otras cantidades declaradas en su declaración de impuestos. I need to file 2011 taxes Si no paga suficientes impuestos mediante retenciones o pagos de impuesto estimado, o ambos, es posible que tenga que pagar una multa. I need to file 2011 taxes Si no paga lo suficiente para la fecha de vencimiento de cada período de pago (vea Cuándo se Debe Pagar el Impuesto Estimado , más adelante) se le podría cobrar una multa aun cuando espere recibir un reembolso de impuestos al presentar su declaración. I need to file 2011 taxes Para más información sobre cuándo es aplicable la multa, vea Multa por Pago Insuficiente de Impuestos de 2013 , al final de este capítulo. I need to file 2011 taxes Quién no Tiene que Pagar el Impuesto Estimado Si recibe un sueldo o salario, puede evitar la obligación de hacer pagos de impuesto estimado pidiendo a su empleador que le retenga más impuestos de su remuneración. I need to file 2011 taxes Para hacer esto, presente un Formulario W-4(SP) (o Formulario W-4, en inglés) nuevo a su empleador. I need to file 2011 taxes Vea el capítulo 1 de la Publicación 505, en inglés. I need to file 2011 taxes Pagos de impuesto estimado no requeridos. I need to file 2011 taxes   No tendrá que pagar el impuesto estimado para el año 2014 si se satisfacen las tres condiciones siguientes: No tuvo la obligación de pagar impuestos en el año 2013. I need to file 2011 taxes Fue ciudadano o residente extranjero de los Estados Unidos durante todo el año. I need to file 2011 taxes Su año tributario de 2013 constaba de un período de 12 meses. I need to file 2011 taxes   No tuvo la obligación de pagar impuestos para el año 2013 si su impuesto total fue cero o no estuvo obligado a presentar una declaración de impuestos. I need to file 2011 taxes Para la definición de “impuesto total” para 2013, vea el capítulo 2 de la Publicación 505, en inglés. I need to file 2011 taxes ¿Quién Tiene que Pagar Impuesto Estimado? Si adeuda impuesto adicional para el año 2013, quizás tenga que pagar impuesto estimado para el año 2014. I need to file 2011 taxes Puede utilizar la siguiente regla general como guía durante el año para averiguar si tendrá suficiente impuesto retenido o si debe aumentar su retención o hacer pagos estimados de impuesto. I need to file 2011 taxes Regla general. I need to file 2011 taxes   En la mayoría de los casos, tiene que pagar impuesto estimado para el año 2014 si se dan las dos condiciones siguientes: Usted espera adeudar al menos $1,000 de impuestos para el año 2014 después de restar los impuestos retenidos y los créditos reembolsables. I need to file 2011 taxes Usted espera que sus impuestos retenidos y créditos reembolsables sean inferiores a la menor de las siguientes cantidades: el 90% del impuesto indicado en su declaración de impuestos para el año 2014 o el 100% del impuesto indicado en su declaración de impuestos para el año 2013 (sin embargo, vea Requisitos especiales para agricultores, pescadores y contribuyentes de altos ingresos, a continuación). I need to file 2011 taxes Dicha declaración tiene que abarcar un período de 12 meses. I need to file 2011 taxes    Si el resultado de usar la regla general que se explicó anteriormente le indica que no va a tener suficiente impuesto retenido, complete la 2014 Estimated Tax Worksheet (Hoja de Trabajo de 2014) en la Publicación 505, en inglés, para obtener un cálculo más preciso. I need to file 2011 taxes Requisitos especiales para agricultores, pescadores y contribuyentes de altos ingresos. I need to file 2011 taxes   Si por lo menos dos tercios (2/3) de su ingreso bruto para el año tributario 2013 ó 2014 es de actividades agrícolas o de pesca, sustituya el 662/3% por el 90% en el punto (2a) bajo Regla general , anteriormente. I need to file 2011 taxes Si su ingreso bruto ajustado para el año 2013 fue más de $150,000 ($75,000 si su estado civil para efectos de la declaración de 2014 es casado que presenta una declaración por separado), sustituya 110% por 100% en el punto (2b) bajo Regla general , anteriormente. I need to file 2011 taxes Vea la Figura 4-A y el capítulo 2 de la Publicación 505, en inglés, para más información. I need to file 2011 taxes Extranjeros. I need to file 2011 taxes   Los extranjeros residentes y los extranjeros no residentes también pueden tener que pagar impuesto estimado. I need to file 2011 taxes Los extranjeros residentes deben cumplir los requisitos presentados en este capítulo a menos que se indique lo contrario. I need to file 2011 taxes Los que no son residentes deben obtener el Formulario 1040-ES (NR), U. I need to file 2011 taxes S. I need to file 2011 taxes Estimated Tax for Nonresident Alien Individuals (Impuesto estimado de los EE. I need to file 2011 taxes UU. I need to file 2011 taxes para las personas extranjeras no residentes), en inglés. I need to file 2011 taxes   Es extranjero si no es ciudadano ni nacional de los Estados Unidos. I need to file 2011 taxes Es extranjero residente si tiene una tarjeta de residencia (green card) o si cumple el requisito de presencia sustancial. I need to file 2011 taxes Para información adicional sobre el requisito de presencia sustancial, vea la Publicación 519, U. I need to file 2011 taxes S. I need to file 2011 taxes Tax Guide for Aliens (Guía tributaria de los EE. I need to file 2011 taxes UU. I need to file 2011 taxes para extranjeros), en inglés. I need to file 2011 taxes Contribuyentes casados. I need to file 2011 taxes   Si cumple los requisitos para hacer pagos conjuntos de impuesto estimado, puede aplicar esos requisitos a sus ingresos estimados conjuntos. I need to file 2011 taxes   Usted y su cónyuge pueden hacer pagos conjuntos de impuesto estimado aun cuando no vivan juntos. I need to file 2011 taxes   No obstante, usted y su cónyuge no pueden hacer pagos conjuntos de impuesto estimado si: Están legalmente separados por fallo de divorcio o de manutención por separación judicial, Tanto usted como su cónyuge utilizan años tributarios distintos o Uno de ustedes es extranjero no residente (a menos que éste elija ser tratado como extranjero residente para propósitos tributarios (vea el capítulo 1 de la Publicación 519, en inglés)). I need to file 2011 taxes   Si no reúne los requisitos para hacer pagos conjuntos del impuesto estimado, aplique los requisitos explicados aquí a su ingreso estimado por separado. I need to file 2011 taxes El hecho de que usted y su cónyuge hagan o no pagos de impuesto estimado conjuntamente o por separado no afectará en absoluto su elección de presentar una declaración de impuestos conjunta o separada para el año 2014. I need to file 2011 taxes Declaraciones separadas para el año 2013 y una declaración conjunta para el año 2014. I need to file 2011 taxes   Si piensa presentar una declaración conjunta con su cónyuge para el año 2014, pero los dos presentaron declaraciones separadas en 2013, sus impuestos para 2013 son el total de impuestos indicado en las dos declaraciones que se presentaron por separado. I need to file 2011 taxes Usted presentó una declaración por separado si declaró cualquiera de los estados civiles siguientes: soltero, cabeza de familia o casado que presenta la declaración por separado. I need to file 2011 taxes Declaración conjunta para el año 2013 y declaraciones separadas para el año 2014. I need to file 2011 taxes   Si piensa presentar una declaración por separado para el año 2014, pero presentó una declaración conjunta en 2013, sus impuestos para 2013 son la parte del impuesto que le corresponda en la declaración conjunta. I need to file 2011 taxes Usted presenta una declaración por separado si declara cualquiera de los siguientes estados civiles: soltero, cabeza de familia o casado que presenta la declaración por separado. I need to file 2011 taxes   Para calcular la parte del impuesto que le corresponde en una declaración conjunta, debe primero calcular el impuesto que usted y su cónyuge habrían pagado si hubieran presentado declaraciones separadas para el año 2013, utilizando el mismo estado civil para el año 2014. I need to file 2011 taxes Luego multiplique el impuesto de la declaración conjunta por la siguiente fracción:   El impuesto que habría pagado si hubiera presentado una declaración por separado   El impuesto total que usted y su cónyuge habrían pagado si los dos hubieran presentado declaraciones separadas Ejemplo. I need to file 2011 taxes José y Hortensia presentaron una declaración conjunta para el año 2013, en la que se indicaba un ingreso sujeto a impuestos de $48,500 e impuestos por pagar de $6,386. I need to file 2011 taxes Del total de ingresos sujetos a impuestos de $48,500, unos $40,100 le correspondían a José y los demás le correspondían a Hortensia. I need to file 2011 taxes Para el año 2014, el matrimonio piensa presentar declaraciones por separado. I need to file 2011 taxes José calcula su parte de impuestos indicada en la declaración conjunta para el año 2013 de la manera siguiente:   Impuestos sobre los $40,100 basándose en una declaración por separado $5,960     Impuestos sobre los $8,400 basándose en una declaración por separado 843     Total $ 6,803     Porcentaje del total correspondiente a José ($5,960 ÷ $6,803) 87. I need to file 2011 taxes 6%     Parte del total declarado en la declaración conjunta correspondiente a José  ($6,386 × 87. I need to file 2011 taxes 6%) $ 5,594   Figura 4-A. I need to file 2011 taxes ¿Tiene que Pagar Impuesto Estimado? Please click here for the text description of the image. I need to file 2011 taxes Figura 4−A. I need to file 2011 taxes ¿Tiene que Pagar Impuesto Estimado? Cómo Calcular el Impuesto Estimado Para calcular su impuesto estimado, tiene que determinar primero su ingreso bruto ajustado (AGI, por sus siglas en inglés), ingreso sujeto a impuestos, impuestos, deducciones y créditos para el año. I need to file 2011 taxes Al calcular su impuesto estimado para el año 2014, le convendría utilizar los ingresos, deducciones y créditos de su declaración del año 2013 como punto de partida. I need to file 2011 taxes Utilice su declaración federal de impuestos para el año 2013 como referencia. I need to file 2011 taxes Puede utilizar el Formulario 1040-ES y la Publicación 505, ambos en inglés, para calcular su impuesto estimado. I need to file 2011 taxes Los extranjeros no residentes deben utilizar el Formulario 1040-ES (NR) y la Publicación 505, ambos en inglés, para calcular su impuesto estimado (vea el capítulo 8 de la Publicación 519 para más información). I need to file 2011 taxes Hay que tener en cuenta cambios recientes en su situación así como en la ley tributaria. I need to file 2011 taxes Para más información acerca de estos cambios, visite la página web del IRS, IRS. I need to file 2011 taxes gov/espanol. I need to file 2011 taxes Para más información sobre cómo determinar su impuesto estimado para el año 2014, vea el capítulo 2 de la Publicación 505, en inglés. I need to file 2011 taxes Cuándo se Debe Pagar el Impuesto Estimado Para propósitos del impuesto estimado, se divide el año tributario en cuatro períodos de pago. I need to file 2011 taxes Cada período tiene su propia fecha de vencimiento. I need to file 2011 taxes Si no se pagan suficientes impuestos para la fecha de vencimiento de cada período de pago, se le puede cobrar una multa aun si tiene derecho a un reembolso al presentar su declaración de impuestos. I need to file 2011 taxes Los períodos de pago y las fechas de vencimiento para los pagos del impuesto estimado se muestran a continuación. I need to file 2011 taxes   Para el período: Fecha de vencimiento:*     Del 1 de enero al 31 de marzo 15 de abril     Del 1 de abril al 31 de mayo 16 de junio     Del 1 de junio al 31 de agosto 15 de sept. I need to file 2011 taxes     Del 1 de sept. I need to file 2011 taxes al 31 de dic. I need to file 2011 taxes 15 de enero del siguiente año      * Vea Regla para sábados, domingos y días feriados oficiales y Pago para enero . I need to file 2011 taxes Regla para sábados, domingos y días feriados oficiales. I need to file 2011 taxes   Si el plazo para hacer un pago de impuesto estimado vence un sábado, domingo o día feriado oficial, el pago se considerará hecho a su debido tiempo si se hace el día siguiente que no sea un sábado, domingo o día feriado oficial. I need to file 2011 taxes Pago para enero. I need to file 2011 taxes   Si presenta su Formulario 1040 o Formulario 1040A del año 2014 a más tardar el 31 de enero del año 2015, y paga el resto del impuesto que adeude, no tendrá que hacer su pago del impuesto estimado que vencería el 15 de enero de 2015. I need to file 2011 taxes Contribuyentes según año fiscal. I need to file 2011 taxes   Si su año tributario no comienza el 1 de enero, vea las instrucciones para el Formulario 1040-ES, en inglés, para saber las fechas de vencimiento pertinentes. I need to file 2011 taxes Cuándo Debe Comenzar a Pagar No tiene que pagar impuesto estimado hasta que reciba ingresos sobre los cuales tenga que pagar el impuesto sobre el ingreso. I need to file 2011 taxes Si recibe ingreso sujeto al pago de impuesto estimado para el primer período de pago del año, tiene que hacer su primer pago a más tardar en la fecha de vencimiento de ese período. I need to file 2011 taxes Puede pagar el impuesto estimado en su totalidad en ese momento o a plazos. I need to file 2011 taxes Si decide pagar el impuesto a plazos, haga su primer pago a más tardar en la fecha de vencimiento del primer período de pago. I need to file 2011 taxes Haga los pagos a plazos restantes a más tardar en las fechas de vencimiento de los períodos posteriores. I need to file 2011 taxes Ningún ingreso sujeto al impuesto estimado durante el primer período. I need to file 2011 taxes    Si no recibe ingresos sujetos al pago de impuesto estimado hasta un período posterior, tiene que hacer su primer pago de impuesto estimado a más tardar en la fecha de vencimiento de tal período. I need to file 2011 taxes Puede pagar el impuesto estimado en su totalidad a más tardar en la fecha de vencimiento de tal período o puede elegir pagarlo a plazos para la fecha de vencimiento de tal período y las fechas de vencimiento de los períodos restantes. I need to file 2011 taxes El diagrama siguiente indica cuándo se deben hacer los pagos a plazos. I need to file 2011 taxes Si recibe por primera vez ingresos sobre los cuales tiene que pagar impuesto estimado: Haga un  pago  a más tardar el:* Pague  los plazos posteriores  a más tardar el:* Antes del 1 de abril 15 de abril 16 de junio 15 de septiembre 15 de enero del siguiente año Del 1 de abril al 31 de mayo 16 de junio 15 de septiembre 15 de enero del siguiente año Del 1 de junio al 31 de agosto 16 de septiembre 15 de enero del siguiente año Después del 31 de agosto 15 de enero del siguiente año (Ninguno) *Vea Regla para sábados, domingos y días feriados oficiales y Pago para enero. I need to file 2011 taxes     Cuánto se debe pagar para evitar una multa. I need to file 2011 taxes   Para determinar la cantidad que debe pagar para cada fecha de vencimiento de los pagos, vea Cómo Determinar Cada Pago , a continuación. I need to file 2011 taxes Cómo Determinar Cada Pago Debe pagar suficiente impuesto estimado para la fecha de vencimiento de cada período de pago, a fin de evitar una multa por ese período. I need to file 2011 taxes Puede determinar el pago requerido para cada período utilizando el método normal de pagos a plazos o el método de ingresos anualizados a plazos. I need to file 2011 taxes Estos métodos se describen en más detalle en el capítulo 2 de la Publicación 505, en inglés. I need to file 2011 taxes Si no paga suficientes impuestos durante cada período de pago, es posible que se le cobre una multa aun cuando tenga derecho a un reembolso de impuestos al presentar su declaración. I need to file 2011 taxes Si el tema anterior Ningún ingreso sujeto al impuesto estimado durante el primer período o el tema posterior Cambio en el impuesto estimado , le corresponde, le puede ser de provecho leer Annualized Income Installment Method (Método de ingreso anual a plazos), en inglés, en el capítulo 2 de la Publicación 505 para más información sobre cómo evitar una multa. I need to file 2011 taxes Multa por pago insuficiente del impuesto estimado. I need to file 2011 taxes   Según el método normal de pagos a plazos, si su pago de impuesto estimado para algún período es menos de la cuarta parte de su impuesto estimado, se le puede cobrar una multa por pago insuficiente del impuesto estimado para ese período cuando presente su declaración de impuestos. I need to file 2011 taxes Bajo el método anualizado de ingresos a plazos, sus pagos de impuesto estimado varían con su ingreso, pero la cantidad de pago requerida deberá ser pagada en cada período. I need to file 2011 taxes Vea el capítulo 4 de la Publicación 505 para más información. I need to file 2011 taxes Cambio en el impuesto estimado. I need to file 2011 taxes   Puede tener que volver a calcular su impuesto estimado después de haberlo pagado si se dan cambios en sus ingresos, ajustes, deducciones, créditos o exenciones. I need to file 2011 taxes Pague el saldo adeudado de su impuesto estimado enmendado a más tardar en la siguiente fecha de vencimiento del pago después del cambio o lo puede pagar a plazos empezando a más tardar en esa siguiente fecha de vencimiento y subsecuentemente en las fechas de pago para los períodos de pago restantes. I need to file 2011 taxes Casos en los que No se Requieren Pagos del Impuesto Estimado No tiene que hacer pagos de impuesto estimado si la cantidad retenida durante cada período de pago es por lo menos: 1/4 de su pago anual requerido o La cantidad del plazo de ingresos anualizados que está obligado a pagar para tal período. I need to file 2011 taxes Además, no tendrá que efectuar pagos de impuesto estimado si se le retienen suficientes impuestos durante el año para asegurar que la cantidad de impuestos a pagar al presentar su declaración sea menos de $1,000. I need to file 2011 taxes Cómo Pagar el Impuesto Estimado Hay varias maneras de pagar el impuesto estimado: Acreditar un pago en exceso de su declaración de impuestos del año 2013 a su impuesto estimado del año 2014. I need to file 2011 taxes Efectuar un pago mediante la transferencia directa de su cuenta bancaria o pago por tarjeta de crédito o débito utilizando un sistema de pago a través del teléfono o la Internet. I need to file 2011 taxes Enviar su pago (cheque o giro) del impuesto adeudado con un comprobante de pago del Formulario 1040-ES. I need to file 2011 taxes Cómo Acreditar un Pago en Exceso Si al presentar su Formulario 1040 o Formulario 1040A para el año 2013 muestra haber pagado impuestos de más, puede aplicar una parte o la totalidad de ese pago en exceso a su impuesto estimado para el año 2014. I need to file 2011 taxes Escriba en la línea 75 del Formulario 1040 o en la línea 44 del Formulario 1040A la parte de la cantidad del pago en exceso que quiere acreditar a su impuesto estimado en vez de recibirla como reembolso. I need to file 2011 taxes Tiene que tener en cuenta dicha cantidad acreditada al calcular los pagos de impuesto estimado. I need to file 2011 taxes No puede solicitar que se le reembolse la cantidad acreditada a su impuesto estimado durante el año hasta que presente su declaración de impuestos el año siguiente. I need to file 2011 taxes Tampoco puede destinar ese pago en exceso a ningún otro fin. I need to file 2011 taxes Pago a Través de Internet El pago a través de Internet es conveniente y seguro y le ayuda a asegurar que nosotros recibamos su pago a tiempo. I need to file 2011 taxes Puede pagar utilizando cualquiera de los siguientes métodos de pago electrónico: Transferencia directa de su cuenta bancaria. I need to file 2011 taxes Tarjeta de crédito o débito. I need to file 2011 taxes Si desea pagar sus impuestos a través de Internet o si desea obtener más información, acceda a www. I need to file 2011 taxes irs. I need to file 2011 taxes gov/e-pay. I need to file 2011 taxes Pago a Través del Teléfono El efectuar pagos a través del teléfono es otro método confiable y seguro de realizar pagos electrónicos. I need to file 2011 taxes Utilice uno de los siguientes métodos: Transferencia directa de su cuenta bancaria. I need to file 2011 taxes Tarjeta de crédito o débito. I need to file 2011 taxes Si desea pagar mediante la transferencia directa de su cuenta bancaria, llame al 1-800-244-4829 (1-800-555-4477, si desea obtener servicio en inglés). I need to file 2011 taxes Las personas sordas o aquellas personas que tienen impedimentos auditivos o del habla y que tienen acceso al sistema TTY/TDD pueden llamar al 1-800-733-4829. I need to file 2011 taxes Para efectuar pagos utilizando una tarjeta de crédito o débito, puede llamar a uno de los proveedores de servicio que aparecen a continuación. I need to file 2011 taxes Los proveedores cobran un cargo por realizar esta clase de transacción. I need to file 2011 taxes El cargo varía de acuerdo con el proveedor que le ofrezca el servicio, la clase de tarjeta que utiliza para efectuar el pago y la cantidad del pago. I need to file 2011 taxes WorldPay 1-888-9-PAY-TAX™ (1-888-972-9829) www. I need to file 2011 taxes payUSAtax. I need to file 2011 taxes com Official Payments Corporation 1-888-UPAY-TAX™ (1-888-872-9829) www. I need to file 2011 taxes officialpayments. I need to file 2011 taxes com Link2Gov Corporation 1-888-PAY-1040™ (1-888-729-1040) www. I need to file 2011 taxes PAY1040. I need to file 2011 taxes com Si desea obtener la información más actualizada sobre los pagos que se efectúan a través del teléfono, acceda a www. I need to file 2011 taxes irs. I need to file 2011 taxes gov/e-pay. I need to file 2011 taxes Cómo Pagar con Cheque o Giro Utilizando el Comprobante de Pago para el Impuesto Estimado Cada pago de impuesto estimado por cheque o giro tiene que ser acompañado de un comprobante de pago del Formulario 1040-ES. I need to file 2011 taxes Durante el año 2013, si usted: hizo por lo menos un pago de impuesto estimado, pero no por métodos electrónicos, y no usó un programa o pagó a aun preparador para preparar su declaración, entonces, debe recibir una copia del Formulario 1040-ES-V del año 2014, en inglés. I need to file 2011 taxes El mismo contendrá unos comprobantes de pago con su nombre, dirección y número de Seguro Social impresos. I need to file 2011 taxes El uso de los comprobantes de pago con esa información impresa agilizará la tramitación de su declaración, reducirá la posibilidad de errores y reducirá los costos asociados con la tramitación de la declaración. I need to file 2011 taxes Utilice los sobres con ventanillas que recibió con el Formulario 1040-ES. I need to file 2011 taxes Si utiliza sus propios sobres, asegúrese de enviar los comprobantes de pago a la dirección indicada en las instrucciones del Formulario 1040-ES correspondiente al área donde vive. I need to file 2011 taxes Nota: Estos criterios pueden cambiar sin aviso. I need to file 2011 taxes Si usted no recibe un Formulario 1040-ES/V, en inglés, y está obligado a hacer un pago de impuesto estimado, debe ir a IRS. I need to file 2011 taxes gov e imprimir una copia del Formulario 1040-ES, en inglés, el cual incluye cuatro cupones de pago en blanco. I need to file 2011 taxes Complete uno de estos cupones y haga su pago a tiempo para evitar multas por pago tardío. I need to file 2011 taxes No utilice la dirección contenida en las Instrucciones para el Formulario 1040 o para el Formulario 1040A para enviar sus pagos del impuesto estimado. I need to file 2011 taxes Si no pagó impuesto estimado durante el año pasado, puede pedir el Formulario 1040-ES del IRS (consulte la Hoja de Ped
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I need to file 2011 taxes 1. I need to file 2011 taxes   Gain or Loss Table of Contents Topics - This chapter discusses: Useful Items - You may want to see: Sales and ExchangesGain or Loss From Sales and Exchanges Abandonments Foreclosures and RepossessionsAmount realized on a nonrecourse debt. I need to file 2011 taxes Amount realized on a recourse debt. I need to file 2011 taxes Involuntary ConversionsCondemnations Nontaxable ExchangesLike-Kind Exchanges Other Nontaxable Exchanges Transfers to Spouse Rollover of Gain From Publicly Traded Securities Gains on Sales of Qualified Small Business Stock Exclusion of Gain From Sale of DC Zone Assets Topics - This chapter discusses: Sales and exchanges Abandonments Foreclosures and repossessions Involuntary conversions Nontaxable exchanges Transfers to spouse Rollovers and exclusions for certain capital gains Useful Items - You may want to see: Publication 523 Selling Your Home 537 Installment Sales 547 Casualties, Disasters, and Thefts 550 Investment Income and Expenses 551 Basis of Assets 908 Bankruptcy Tax Guide 4681 Canceled Debts, Foreclosures, Repossessions, and Abandonments Form (and Instructions) Schedule D (Form 1040) Capital Gains and Losses 1040 U. I need to file 2011 taxes S. I need to file 2011 taxes Individual Income Tax Return 1040X Amended U. I need to file 2011 taxes S. I need to file 2011 taxes Individual Income Tax Return 1099-A Acquisition or Abandonment of Secured Property 1099-C Cancellation of Debt 4797 Sales of Business Property 8824 Like-Kind Exchanges 8949 Sales and Other Dispositions of Capital Assets Although the discussions in this chapter may at times refer mainly to individuals, many of the rules discussed also apply to taxpayers other than individuals. I need to file 2011 taxes However, the rules for property held for personal use usually will not apply to taxpayers other than individuals. I need to file 2011 taxes See chapter 5 for information about getting publications and forms. I need to file 2011 taxes Sales and Exchanges A sale is a transfer of property for money or a mortgage, note, or other promise to pay money. I need to file 2011 taxes An exchange is a transfer of property for other property or services. I need to file 2011 taxes The following discussions describe the kinds of transactions that are treated as sales or exchanges and explain how to figure gain or loss. I need to file 2011 taxes Sale or lease. I need to file 2011 taxes    Some agreements that seem to be leases may really be conditional sales contracts. I need to file 2011 taxes The intention of the parties to the agreement can help you distinguish between a sale and a lease. I need to file 2011 taxes   There is no test or group of tests to prove what the parties intended when they made the agreement. I need to file 2011 taxes You should consider each agreement based on its own facts and circumstances. I need to file 2011 taxes For more information, see chapter 3 in Publication 535, Business Expenses. I need to file 2011 taxes Cancellation of a lease. I need to file 2011 taxes    Payments received by a tenant for the cancellation of a lease are treated as an amount realized from the sale of property. I need to file 2011 taxes Payments received by a landlord (lessor) for the cancellation of a lease are essentially a substitute for rental payments and are taxed as ordinary income in the year in which they are received. I need to file 2011 taxes Copyright. I need to file 2011 taxes    Payments you receive for granting the exclusive use of (or right to exploit) a copyright throughout its life in a particular medium are treated as received from the sale of property. I need to file 2011 taxes It does not matter if the payments are a fixed amount or a percentage of receipts from the sale, performance, exhibition, or publication of the copyrighted work, or an amount based on the number of copies sold, performances given, or exhibitions made. I need to file 2011 taxes Nor does it matter if the payments are made over the same period as that covering the grantee's use of the copyrighted work. I need to file 2011 taxes   If the copyright was used in your trade or business and you held it longer than a year, the gain or loss may be a section 1231 gain or loss. I need to file 2011 taxes For more information, see Section 1231 Gains and Losses in chapter 3. I need to file 2011 taxes Easement. I need to file 2011 taxes   The amount received for granting an easement is subtracted from the basis of the property. I need to file 2011 taxes If only a specific part of the entire tract of property is affected by the easement, only the basis of that part is reduced by the amount received. I need to file 2011 taxes If it is impossible or impractical to separate the basis of the part of the property on which the easement is granted, the basis of the whole property is reduced by the amount received. I need to file 2011 taxes   Any amount received that is more than the basis to be reduced is a taxable gain. I need to file 2011 taxes The transaction is reported as a sale of property. I need to file 2011 taxes   If you transfer a perpetual easement for consideration and do not keep any beneficial interest in the part of the property affected by the easement, the transaction will be treated as a sale of property. I need to file 2011 taxes However, if you make a qualified conservation contribution of a restriction or easement granted in perpetuity, it is treated as a charitable contribution and not a sale or exchange, even though you keep a beneficial interest in the property affected by the easement. I need to file 2011 taxes   If you grant an easement on your property (for example, a right-of-way over it) under condemnation or threat of condemnation, you are considered to have made a forced sale, even though you keep the legal title. I need to file 2011 taxes Although you figure gain or loss on the easement in the same way as a sale of property, the gain or loss is treated as a gain or loss from a condemnation. I need to file 2011 taxes See Gain or Loss From Condemnations, later. I need to file 2011 taxes Property transferred to satisfy debt. I need to file 2011 taxes   A transfer of property to satisfy a debt is an exchange. I need to file 2011 taxes Note's maturity date extended. I need to file 2011 taxes   The extension of a note's maturity date is not treated as an exchange of an outstanding note for a new and different note. I need to file 2011 taxes Also, it is not considered a closed and completed transaction that would result in a gain or loss. I need to file 2011 taxes However, an extension will be treated as a taxable exchange of the outstanding note for a new and materially different note if the changes in the terms of the note are significant. I need to file 2011 taxes Each case must be determined by its own facts. I need to file 2011 taxes For more information, see Regulations section 1. I need to file 2011 taxes 1001-3. I need to file 2011 taxes Transfer on death. I need to file 2011 taxes   The transfer of property of a decedent to an executor or administrator of the estate, or to the heirs or beneficiaries, is not a sale or exchange or other disposition. I need to file 2011 taxes No taxable gain or deductible loss results from the transfer. I need to file 2011 taxes Bankruptcy. I need to file 2011 taxes   Generally, a transfer (other than by sale or exchange) of property from a debtor to a bankruptcy estate is not treated as a disposition. I need to file 2011 taxes Consequently, the transfer generally does not result in gain or loss. I need to file 2011 taxes For more information, see Publication 908, Bankruptcy Tax Guide. I need to file 2011 taxes Gain or Loss From Sales and Exchanges You usually realize gain or loss when property is sold or exchanged. I need to file 2011 taxes A gain is the amount you realize from a sale or exchange of property that is more than its adjusted basis. I need to file 2011 taxes A loss is the adjusted basis of the property that is more than the amount you realize. I need to file 2011 taxes   Table 1-1. I need to file 2011 taxes How To Figure Whether You Have a Gain or Loss IF your. I need to file 2011 taxes . I need to file 2011 taxes . I need to file 2011 taxes THEN you have a. I need to file 2011 taxes . I need to file 2011 taxes . I need to file 2011 taxes Adjusted basis is more than the amount realized, Loss. I need to file 2011 taxes Amount realized is more than the adjusted basis, Gain. I need to file 2011 taxes Basis. I need to file 2011 taxes   You must know the basis of your property to determine whether you have a gain or loss from its sale or other disposition. I need to file 2011 taxes The basis of property you buy is usually its cost. I need to file 2011 taxes However, if you acquired the property by gift, inheritance, or in some way other than buying it, you must use a basis other than its cost. I need to file 2011 taxes See Basis Other Than Cost in Publication 551, Basis of Assets. I need to file 2011 taxes Special rules apply to property acquired from a decedent who died in 2010 and the executor made the election to file Form 8939, Allocation of Increase in Basis for Property Received From a Decedent. I need to file 2011 taxes See Publication 4895, Tax Treatment of Property Acquired From a Decedent Dying in 2010, for details. I need to file 2011 taxes Adjusted basis. I need to file 2011 taxes   The adjusted basis of property is your original cost or other basis plus (increased by) certain additions and minus (decreased by) certain deductions. I need to file 2011 taxes Increases include costs of any improvements having a useful life of more than 1 year. I need to file 2011 taxes Decreases include depreciation and casualty losses. I need to file 2011 taxes For more details and additional examples, see Adjusted Basis in Publication 551. I need to file 2011 taxes Amount realized. I need to file 2011 taxes   The amount you realize from a sale or exchange is the total of all money you receive plus the fair market value (defined below) of all property or services you receive. I need to file 2011 taxes The amount you realize also includes any of your liabilities that were assumed by the buyer and any liabilities to which the property you transferred is subject, such as real estate taxes or a mortgage. I need to file 2011 taxes Fair market value. I need to file 2011 taxes   Fair market value (FMV) is the price at which the property would change hands between a buyer and a seller when both have reasonable knowledge of all the necessary facts and neither is being forced to buy or sell. I need to file 2011 taxes If parties with adverse interests place a value on property in an arm's-length transaction, that is strong evidence of FMV. I need to file 2011 taxes If there is a stated price for services, this price is treated as the FMV unless there is evidence to the contrary. I need to file 2011 taxes Example. I need to file 2011 taxes You used a building in your business that cost you $70,000. I need to file 2011 taxes You made certain permanent improvements at a cost of $20,000 and deducted depreciation totaling $10,000. I need to file 2011 taxes You sold the building for $100,000 plus property having an FMV of $20,000. I need to file 2011 taxes The buyer assumed your real estate taxes of $3,000 and a mortgage of $17,000 on the building. I need to file 2011 taxes The selling expenses were $4,000. I need to file 2011 taxes Your gain on the sale is figured as follows. I need to file 2011 taxes Amount realized:     Cash $100,000   FMV of property received 20,000   Real estate taxes assumed by buyer 3,000   Mortgage assumed by  buyer 17,000   Total 140,000   Minus: Selling expenses 4,000 $136,000 Adjusted basis:     Cost of building $70,000   Improvements 20,000   Total $90,000   Minus: Depreciation 10,000   Adjusted basis   $80,000 Gain on sale $56,000 Amount recognized. I need to file 2011 taxes   Your gain or loss realized from a sale or exchange of property is usually a recognized gain or loss for tax purposes. I need to file 2011 taxes Recognized gains must be included in gross income. I need to file 2011 taxes Recognized losses are deductible from gross income. I need to file 2011 taxes However, your gain or loss realized from certain exchanges of property is not recognized for tax purposes. I need to file 2011 taxes See Nontaxable Exchanges, later. I need to file 2011 taxes Also, a loss from the sale or other disposition of property held for personal use is not deductible, except in the case of a casualty or theft. I need to file 2011 taxes Interest in property. I need to file 2011 taxes   The amount you realize from the disposition of a life interest in property, an interest in property for a set number of years, or an income interest in a trust is a recognized gain under certain circumstances. I need to file 2011 taxes If you received the interest as a gift, inheritance, or in a transfer from a spouse or former spouse incident to a divorce, the amount realized is a recognized gain. I need to file 2011 taxes Your basis in the property is disregarded. I need to file 2011 taxes This rule does not apply if all interests in the property are disposed of at the same time. I need to file 2011 taxes Example 1. I need to file 2011 taxes Your father dies and leaves his farm to you for life with a remainder interest to your younger brother. I need to file 2011 taxes You decide to sell your life interest in the farm. I need to file 2011 taxes The entire amount you receive is a recognized gain. I need to file 2011 taxes Your basis in the farm is disregarded. I need to file 2011 taxes Example 2. I need to file 2011 taxes The facts are the same as in Example 1, except that your brother joins you in selling the farm. I need to file 2011 taxes The entire interest in the property is sold, so your basis in the farm is not disregarded. I need to file 2011 taxes Your gain or loss is the difference between your share of the sales price and your adjusted basis in the farm. I need to file 2011 taxes Canceling a sale of real property. I need to file 2011 taxes   If you sell real property under a sales contract that allows the buyer to return the property for a full refund and the buyer does so, you may not have to recognize gain or loss on the sale. I need to file 2011 taxes If the buyer returns the property in the year of sale, no gain or loss is recognized. I need to file 2011 taxes This cancellation of the sale in the same year it occurred places both you and the buyer in the same positions you were in before the sale. I need to file 2011 taxes If the buyer returns the property in a later tax year, you must recognize gain (or loss, if allowed) in the year of the sale. I need to file 2011 taxes When the property is returned in a later year, you acquire a new basis in the property. I need to file 2011 taxes That basis is equal to the amount you pay to the buyer. I need to file 2011 taxes Bargain Sale If you sell or exchange property for less than fair market value with the intent of making a gift, the transaction is partly a sale or exchange and partly a gift. I need to file 2011 taxes You have a gain if the amount realized is more than your adjusted basis in the property. I need to file 2011 taxes However, you do not have a loss if the amount realized is less than the adjusted basis of the property. I need to file 2011 taxes Bargain sales to charity. I need to file 2011 taxes   A bargain sale of property to a charitable organization is partly a sale or exchange and partly a charitable contribution. I need to file 2011 taxes If a charitable deduction for the contribution is allowable, you must allocate your adjusted basis in the property between the part sold and the part contributed based on the fair market value of each. I need to file 2011 taxes The adjusted basis of the part sold is figured as follows. I need to file 2011 taxes Adjusted basis of entire property × Amount realized (fair market value of part sold)   Fair market value of entire property   Based on this allocation rule, you will have a gain even if the amount realized is not more than your adjusted basis in the property. I need to file 2011 taxes This allocation rule does not apply if a charitable contribution deduction is not allowable. I need to file 2011 taxes   See Publication 526, Charitable Contributions, for information on figuring your charitable contribution. I need to file 2011 taxes Example. I need to file 2011 taxes You sold property with a fair market value of $10,000 to a charitable organization for $2,000 and are allowed a deduction for your contribution. I need to file 2011 taxes Your adjusted basis in the property is $4,000. I need to file 2011 taxes Your gain on the sale is $1,200, figured as follows. I need to file 2011 taxes Sales price $2,000 Minus: Adjusted basis of part sold ($4,000 × ($2,000 ÷ $10,000)) 800 Gain on the sale $1,200 Property Used Partly for Business or Rental Generally, if you sell or exchange property you used partly for business or rental purposes and partly for personal purposes, you must figure the gain or loss on the sale or exchange as though you had sold two separate pieces of property. I need to file 2011 taxes You must subtract depreciation you took or could have taken from the basis of the business or rental part. I need to file 2011 taxes However, see the special rule below for a home used partly for business or rental. I need to file 2011 taxes You must allocate the selling price, selling expenses, and the basis of the property between the business or rental part and the personal part. I need to file 2011 taxes Gain or loss on the business or rental part of the property may be a capital gain or loss or an ordinary gain or loss, as discussed in chapter 3 under Section 1231 Gains and Losses. I need to file 2011 taxes Any gain on the personal part of the property is a capital gain. I need to file 2011 taxes You cannot deduct a loss on the personal part. I need to file 2011 taxes Home used partly for business or rental. I need to file 2011 taxes    If you use property partly as a home and partly for business or to produce rental income, the computation and treatment of any gain on the sale depends partly on whether the business or rental part of the property is part of your home or separate from it. I need to file 2011 taxes See Property Used Partly for Business or Rental, in Publication 523. I need to file 2011 taxes Property Changed to Business or Rental Use You cannot deduct a loss on the sale of property you purchased or constructed for use as your home and used as your home until the time of sale. I need to file 2011 taxes You can deduct a loss on the sale of property you acquired for use as your home but changed to business or rental property and used as business or rental property at the time of sale. I need to file 2011 taxes However, if the adjusted basis of the property at the time of the change was more than its fair market value, the loss you can deduct is limited. I need to file 2011 taxes Figure the loss you can deduct as follows. I need to file 2011 taxes Use the lesser of the property's adjusted basis or fair market value at the time of the change. I need to file 2011 taxes Add to (1) the cost of any improvements and other increases to basis since the change. I need to file 2011 taxes Subtract from (2) depreciation and any other decreases to basis since the change. I need to file 2011 taxes Subtract the amount you realized on the sale from the result in (3). I need to file 2011 taxes If the amount you realized is more than the result in (3), treat this result as zero. I need to file 2011 taxes The result in (4) is the loss you can deduct. I need to file 2011 taxes Example. I need to file 2011 taxes You changed your main home to rental property 5 years ago. I need to file 2011 taxes At the time of the change, the adjusted basis of your home was $75,000 and the fair market value was $70,000. I need to file 2011 taxes This year, you sold the property for $55,000. I need to file 2011 taxes You made no improvements to the property but you have depreciation expense of $12,620 over the 5 prior years. I need to file 2011 taxes Although your loss on the sale is $7,380 [($75,000 − $12,620) − $55,000], the amount you can deduct as a loss is limited to $2,380, figured as follows. I need to file 2011 taxes Lesser of adjusted basis or fair market value at time of the change $70,000 Plus: Cost of any improvements and any other additions to basis after the change -0-   70,000 Minus: Depreciation and any other decreases to basis after the change 12,620   57,380 Minus: Amount you realized from the sale 55,000 Deductible loss $2,380 Gain. I need to file 2011 taxes   If you have a gain on the sale, you generally must recognize the full amount of the gain. I need to file 2011 taxes You figure the gain by subtracting your adjusted basis from your amount realized, as described earlier. I need to file 2011 taxes   You may be able to exclude all or part of the gain if you owned and lived in the property as your main home for at least 2 years during the 5-year period ending on the date of sale. I need to file 2011 taxes However, you may not be able to exclude the part of the gain allocated to any period of nonqualified use. I need to file 2011 taxes   For more information, see Business Use or Rental of Home in Publication 523. I need to file 2011 taxes In addition, special rules apply if the home sold was acquired in a like-kind exchange. I need to file 2011 taxes See Special Situations in Publication 523. I need to file 2011 taxes Also see Like-Kind Exchanges, later. I need to file 2011 taxes Abandonments The abandonment of property is a disposition of property. I need to file 2011 taxes You abandon property when you voluntarily and permanently give up possession and use of the property with the intention of ending your ownership but without passing it on to anyone else. I need to file 2011 taxes Generally, abandonment is not treated as a sale or exchange of the property. I need to file 2011 taxes If the amount you realize (if any) is more than your adjusted basis, then you have a gain. I need to file 2011 taxes If your adjusted basis is more than the amount you realize (if any), then you have a loss. I need to file 2011 taxes Loss from abandonment of business or investment property is deductible as a loss. I need to file 2011 taxes A loss from an abandonment of business or investment property that is not treated as a sale or exchange generally is an ordinary loss. I need to file 2011 taxes This rule also applies to leasehold improvements the lessor made for the lessee that were abandoned. I need to file 2011 taxes If the property is foreclosed on or repossessed in lieu of abandonment, gain or loss is figured as discussed later under Foreclosure and Repossessions. I need to file 2011 taxes The abandonment loss is deducted in the tax year in which the loss is sustained. I need to file 2011 taxes If the abandoned property is secured by debt, special rules apply. I need to file 2011 taxes The tax consequences of abandonment of property that is secured by debt depend on whether you are personally liable for the debt (recourse debt) or you are not personally liable for the debt (nonrecourse debt). I need to file 2011 taxes For more information, including examples, see chapter 3 of Publication 4681. I need to file 2011 taxes You cannot deduct any loss from abandonment of your home or other property held for personal use only. I need to file 2011 taxes Cancellation of debt. I need to file 2011 taxes   If the abandoned property secures a debt for which you are personally liable and the debt is canceled, you may realize ordinary income equal to the canceled debt. I need to file 2011 taxes This income is separate from any loss realized from abandonment of the property. I need to file 2011 taxes   You must report this income on your tax return unless one of the following applies. I need to file 2011 taxes The cancellation is intended as a gift. I need to file 2011 taxes The debt is qualified farm debt. I need to file 2011 taxes The debt is qualified real property business debt. I need to file 2011 taxes You are insolvent or bankrupt. I need to file 2011 taxes The debt is qualified principal residence indebtedness. I need to file 2011 taxes File Form 982, Reduction of Tax Attributes Due to Discharge of Indebtedness (and Section 1082 Basis Adjustment), to report the income exclusion. I need to file 2011 taxes For more information, including other exceptions and exclusion, see Publication 4681. I need to file 2011 taxes Forms 1099-A and 1099-C. I need to file 2011 taxes   If you abandon property that secures a loan and the lender knows the property has been abandoned, the lender should send you Form 1099-A showing information you need to figure your loss from the abandonment. I need to file 2011 taxes However, if your debt is canceled and the lender must file Form 1099-C, the lender may include the information about the abandonment on that form instead of on Form 1099-A, and send you Form 1099-C only. I need to file 2011 taxes The lender must file Form 1099-C and send you a copy if the amount of debt canceled is $600 or more and the lender is a financial institution, credit union, federal government agency, or any organization that has a significant trade or business of lending money. I need to file 2011 taxes For abandonments of property and debt cancellations occurring in 2013, these forms should be sent to you by January 31, 2014. I need to file 2011 taxes Foreclosures and Repossessions If you do not make payments you owe on a loan secured by property, the lender may foreclose on the loan or repossess the property. I need to file 2011 taxes The foreclosure or repossession is treated as a sale or exchange from which you may realize gain or loss. I need to file 2011 taxes This is true even if you voluntarily return the property to the lender. I need to file 2011 taxes You also may realize ordinary income from cancellation of debt if the loan balance is more than the fair market value of the property. I need to file 2011 taxes Buyer's (borrower's) gain or loss. I need to file 2011 taxes   You figure and report gain or loss from a foreclosure or repossession in the same way as gain or loss from a sale or exchange. I need to file 2011 taxes The gain or loss is the difference between your adjusted basis in the transferred property and the amount realized. I need to file 2011 taxes See Gain or Loss From Sales and Exchanges, earlier. I need to file 2011 taxes You can use Table 1-2 to figure your gain or loss from a foreclosure or repossession. I need to file 2011 taxes Amount realized on a nonrecourse debt. I need to file 2011 taxes   If you are not personally liable for repaying the debt (nonrecourse debt) secured by the transferred property, the amount you realize includes the full debt canceled by the transfer. I need to file 2011 taxes The full canceled debt is included even if the fair market value of the property is less than the canceled debt. I need to file 2011 taxes Example 1. I need to file 2011 taxes Chris bought a new car for $15,000. I need to file 2011 taxes He paid $2,000 down and borrowed the remaining $13,000 from the dealer's credit company. I need to file 2011 taxes Chris is not personally liable for the loan (nonrecourse debt), but pledges the new car as security. I need to file 2011 taxes The credit company repossessed the car because he stopped making loan payments. I need to file 2011 taxes The balance due after taking into account the payments Chris made was $10,000. I need to file 2011 taxes The fair market value of the car when repossessed was $9,000. I need to file 2011 taxes The amount Chris realized on the repossession is $10,000. I need to file 2011 taxes That is the outstanding amount of the debt canceled by the repossession, even though the car's fair market value is less than $10,000. I need to file 2011 taxes Chris figures his gain or loss on the repossession by comparing the amount realized ($10,000) with his adjusted basis ($15,000). I need to file 2011 taxes He has a $5,000 nondeductible loss. I need to file 2011 taxes Example 2. I need to file 2011 taxes Abena paid $200,000 for her home. I need to file 2011 taxes She paid $15,000 down and borrowed the remaining $185,000 from a bank. I need to file 2011 taxes Abena is not personally liable for the loan (nonrecourse debt), but pledges the house as security. I need to file 2011 taxes The bank foreclosed on the loan because Abena stopped making payments. I need to file 2011 taxes When the bank foreclosed on the loan, the balance due was $180,000, the fair market value of the house was $170,000, and Abena's adjusted basis was $175,000 due to a casualty loss she had deducted. I need to file 2011 taxes The amount Abena realized on the foreclosure is $180,000, the balance due and debt canceled by the foreclosure. I need to file 2011 taxes She figures her gain or loss by comparing the amount realized ($180,000) with her adjusted basis ($175,000). I need to file 2011 taxes She has a $5,000 realized gain. I need to file 2011 taxes Amount realized on a recourse debt. I need to file 2011 taxes   If you are personally liable for the debt (recourse debt), the amount realized on the foreclosure or repossession includes the lesser of: The outstanding debt immediately before the transfer reduced by any amount for which you remain personally liable immediately after the transfer, or The fair market value of the transferred property. I need to file 2011 taxes You are treated as receiving ordinary income from the canceled debt for the part of the debt that is more than the fair market value. I need to file 2011 taxes The amount realized does not include the canceled debt that is your income from cancellation of debt. I need to file 2011 taxes See Cancellation of debt, below. I need to file 2011 taxes Seller's (lender's) gain or loss on repossession. I need to file 2011 taxes   If you finance a buyer's purchase of property and later acquire an interest in it through foreclosure or repossession, you may have a gain or loss on the acquisition. I need to file 2011 taxes For more information, see Repossession in Publication 537. I need to file 2011 taxes    Table 1-2. I need to file 2011 taxes Worksheet for Foreclosures and Repossessions Part 1. I need to file 2011 taxes Use Part 1 to figure your ordinary income from the cancellation of debt upon foreclosure or repossession. I need to file 2011 taxes Complete this part only  if you were personally liable for the debt. I need to file 2011 taxes Otherwise,  go to Part 2. I need to file 2011 taxes   1. I need to file 2011 taxes Enter the amount of outstanding debt immediately before the transfer of   property reduced by any amount for which you remain personally liable after   the transfer of property   2. I need to file 2011 taxes Enter the fair market value of the transferred property   3. I need to file 2011 taxes Ordinary income from cancellation of debt upon foreclosure or    repossession. I need to file 2011 taxes * Subtract line 2 from line 1. I need to file 2011 taxes   If less than zero, enter zero   Part 2. I need to file 2011 taxes Figure your gain or loss from foreclosure or repossession. I need to file 2011 taxes   4. I need to file 2011 taxes If you completed Part 1, enter the smaller of line 1 or line 2. I need to file 2011 taxes   If you did not complete Part 1, enter the outstanding debt immediately before   the transfer of property   5. I need to file 2011 taxes Enter any proceeds you received from the foreclosure sale   6. I need to file 2011 taxes Add lines 4 and 5   7. I need to file 2011 taxes Enter the adjusted basis of the transferred property   8. I need to file 2011 taxes Gain or loss from foreclosure or repossession. I need to file 2011 taxes Subtract line 7  from line 6   * The income may not be taxable. I need to file 2011 taxes See Cancellation of debt. I need to file 2011 taxes Cancellation of debt. I need to file 2011 taxes   If property that is repossessed or foreclosed on secures a debt for which you are personally liable (recourse debt), you generally must report as ordinary income the amount by which the canceled debt is more than the fair market value of the property. I need to file 2011 taxes This income is separate from any gain or loss realized from the foreclosure or repossession. I need to file 2011 taxes Report the income from cancellation of a debt related to a business or rental activity as business or rental income. I need to file 2011 taxes    You can use Table 1-2 to figure your income from cancellation of debt. I need to file 2011 taxes   You must report this income on your tax return unless one of the following applies. I need to file 2011 taxes The cancellation is intended as a gift. I need to file 2011 taxes The debt is qualified farm debt. I need to file 2011 taxes The debt is qualified real property business debt. I need to file 2011 taxes You are insolvent or bankrupt. I need to file 2011 taxes The debt is qualified principal residence indebtedness. I need to file 2011 taxes File Form 982 to report the income exclusion. I need to file 2011 taxes Example 1. I need to file 2011 taxes Assume the same facts as in Example 1 under Amount realized on a nonrecourse debt, earlier, except Chris is personally liable for the car loan (recourse debt). I need to file 2011 taxes In this case, the amount he realizes is $9,000. I need to file 2011 taxes This is the lesser of the canceled debt ($10,000) or the car's fair market value ($9,000). I need to file 2011 taxes Chris figures his gain or loss on the repossession by comparing the amount realized ($9,000) with his adjusted basis ($15,000). I need to file 2011 taxes He has a $6,000 nondeductible loss. I need to file 2011 taxes He also is treated as receiving ordinary income from cancellation of debt. I need to file 2011 taxes That income is $1,000 ($10,000 − $9,000). I need to file 2011 taxes This is the part of the canceled debt not included in the amount realized. I need to file 2011 taxes Example 2. I need to file 2011 taxes Assume the same facts as in Example 2 under Amount realized on a nonrecourse debt, earlier, except Abena is personally liable for the loan (recourse debt). I need to file 2011 taxes In this case, the amount she realizes is $170,000. I need to file 2011 taxes This is the lesser of the canceled debt ($180,000) or the fair market value of the house ($170,000). I need to file 2011 taxes Abena figures her gain or loss on the foreclosure by comparing the amount realized ($170,000) with her adjusted basis ($175,000). I need to file 2011 taxes She has a $5,000 nondeductible loss. I need to file 2011 taxes She also is treated as receiving ordinary income from cancellation of debt. I need to file 2011 taxes (The debt is not exempt from tax as discussed under Cancellation of debt, above. I need to file 2011 taxes ) That income is $10,000 ($180,000 − $170,000). I need to file 2011 taxes This is the part of the canceled debt not included in the amount realized. I need to file 2011 taxes Forms 1099-A and 1099-C. I need to file 2011 taxes   A lender who acquires an interest in your property in a foreclosure or repossession should send you Form 1099-A showing the information you need to figure your gain or loss. I need to file 2011 taxes However, if the lender also cancels part of your debt and must file Form 1099-C, the lender may include the information about the foreclosure or repossession on that form instead of on Form 1099-A and send you Form 1099-C only. I need to file 2011 taxes The lender must file Form 1099-C and send you a copy if the amount of debt canceled is $600 or more and the lender is a financial institution, credit union, federal government agency, or any organization that has a significant trade or business of lending money. I need to file 2011 taxes For foreclosures or repossessions occurring in 2013, these forms should be sent to you by January 31, 2014. I need to file 2011 taxes Involuntary Conversions An involuntary conversion occurs when your property is destroyed, stolen, condemned, or disposed of under the threat of condemnation and you receive other property or money in payment, such as insurance or a condemnation award. I need to file 2011 taxes Involuntary conversions are also called involuntary exchanges. I need to file 2011 taxes Gain or loss from an involuntary conversion of your property is usually recognized for tax purposes unless the property is your main home. I need to file 2011 taxes You report the gain or deduct the loss on your tax return for the year you realize it. I need to file 2011 taxes You cannot deduct a loss from an involuntary conversion of property you held for personal use unless the loss resulted from a casualty or theft. I need to file 2011 taxes However, depending on the type of property you receive, you may not have to report a gain on an involuntary conversion. I need to file 2011 taxes Generally, you do not report the gain if you receive property that is similar or related in service or use to the converted property. I need to file 2011 taxes Your basis for the new property is the same as your basis for the converted property. I need to file 2011 taxes This means that the gain is deferred until a taxable sale or exchange occurs. I need to file 2011 taxes If you receive money or property that is not similar or related in service or use to the involuntarily converted property and you buy qualifying replacement property within a certain period of time, you can elect to postpone reporting the gain on the property purchased. I need to file 2011 taxes This publication explains the treatment of a gain or loss from a condemnation or disposition under the threat of condemnation. I need to file 2011 taxes If you have a gain or loss from the destruction or theft of property, see Publication 547. I need to file 2011 taxes Condemnations A condemnation is the process by which private property is legally taken for public use without the owner's consent. I need to file 2011 taxes The property may be taken by the federal government, a state government, a political subdivision, or a private organization that has the power to legally take it. I need to file 2011 taxes The owner receives a condemnation award (money or property) in exchange for the property taken. I need to file 2011 taxes A condemnation is like a forced sale, the owner being the seller and the condemning authority being the buyer. I need to file 2011 taxes Example. I need to file 2011 taxes A local government authorized to acquire land for public parks informed you that it wished to acquire your property. I need to file 2011 taxes After the local government took action to condemn your property, you went to court to keep it. I need to file 2011 taxes But, the court decided in favor of the local government, which took your property and paid you an amount fixed by the court. I need to file 2011 taxes This is a condemnation of private property for public use. I need to file 2011 taxes Threat of condemnation. I need to file 2011 taxes   A threat of condemnation exists if a representative of a government body or a public official authorized to acquire property for public use informs you that the government body or official has decided to acquire your property. I need to file 2011 taxes You must have reasonable grounds to believe that, if you do not sell voluntarily, your property will be condemned. I need to file 2011 taxes   The sale of your property to someone other than the condemning authority will also qualify as an involuntary conversion, provided you have reasonable grounds to believe that your property will be condemned. I need to file 2011 taxes If the buyer of this property knows at the time of purchase that it will be condemned and sells it to the condemning authority, this sale also qualifies as an involuntary conversion. I need to file 2011 taxes Reports of condemnation. I need to file 2011 taxes   A threat of condemnation exists if you learn of a decision to acquire your property for public use through a report in a newspaper or other news medium, and this report is confirmed by a representative of the government body or public official involved. I need to file 2011 taxes You must have reasonable grounds to believe that they will take necessary steps to condemn your property if you do not sell voluntarily. I need to file 2011 taxes If you relied on oral statements made by a government representative or public official, the Internal Revenue Service (IRS) may ask you to get written confirmation of the statements. I need to file 2011 taxes Example. I need to file 2011 taxes Your property lies along public utility lines. I need to file 2011 taxes The utility company has the authority to condemn your property. I need to file 2011 taxes The company informs you that it intends to acquire your property by negotiation or condemnation. I need to file 2011 taxes A threat of condemnation exists when you receive the notice. I need to file 2011 taxes Related property voluntarily sold. I need to file 2011 taxes   A voluntary sale of your property may be treated as a forced sale that qualifies as an involuntary conversion if the property had a substantial economic relationship to property of yours that was condemned. I need to file 2011 taxes A substantial economic relationship exists if together the properties were one economic unit. I need to file 2011 taxes You also must show that the condemned property could not reasonably or adequately be replaced. I need to file 2011 taxes You can elect to postpone reporting the gain by buying replacement property. I need to file 2011 taxes See Postponement of Gain, later. I need to file 2011 taxes Gain or Loss From Condemnations If your property was condemned or disposed of under the threat of condemnation, figure your gain or loss by comparing the adjusted basis of your condemned property with your net condemnation award. I need to file 2011 taxes If your net condemnation award is more than the adjusted basis of the condemned property, you have a gain. I need to file 2011 taxes You can postpone reporting gain from a condemnation if you buy replacement property. I need to file 2011 taxes If only part of your property is condemned, you can treat the cost of restoring the remaining part to its former usefulness as the cost of replacement property. I need to file 2011 taxes See Postponement of Gain, later. I need to file 2011 taxes If your net condemnation award is less than your adjusted basis, you have a loss. I need to file 2011 taxes If your loss is from property you held for personal use, you cannot deduct it. I need to file 2011 taxes You must report any deductible loss in the tax year it happened. I need to file 2011 taxes You can use Part 2 of Table 1-3 to figure your gain or loss from a condemnation award. I need to file 2011 taxes Main home condemned. I need to file 2011 taxes   If you have a gain because your main home is condemned, you generally can exclude the gain from your income as if you had sold or exchanged your home. I need to file 2011 taxes You may be able to exclude up to $250,000 of the gain (up to $500,000 if married filing jointly). I need to file 2011 taxes For information on this exclusion, see Publication 523. I need to file 2011 taxes If your gain is more than you can exclude but you buy replacement property, you may be able to postpone reporting the rest of the gain. I need to file 2011 taxes See Postponement of Gain, later. I need to file 2011 taxes Table 1-3. I need to file 2011 taxes Worksheet for Condemnations Part 1. I need to file 2011 taxes Gain from severance damages. I need to file 2011 taxes  If you did not receive severance damages, skip Part 1 and go to Part 2. I need to file 2011 taxes   1. I need to file 2011 taxes Enter gross severance damages received   2. I need to file 2011 taxes Enter your expenses in getting severance damages   3. I need to file 2011 taxes Subtract line 2 from line 1. I need to file 2011 taxes If less than zero, enter -0-   4. I need to file 2011 taxes Enter any special assessment on remaining property taken out of your award   5. I need to file 2011 taxes Net severance damages. I need to file 2011 taxes Subtract line 4 from line 3. I need to file 2011 taxes If less than zero, enter -0-   6. I need to file 2011 taxes Enter the adjusted basis of the remaining property   7. I need to file 2011 taxes Gain from severance damages. I need to file 2011 taxes Subtract line 6 from line 5. I need to file 2011 taxes If less than zero, enter -0-   8. I need to file 2011 taxes Refigured adjusted basis of the remaining property. I need to file 2011 taxes Subtract line 5 from line 6. I need to file 2011 taxes If less than zero, enter -0-   Part 2. I need to file 2011 taxes Gain or loss from condemnation award. I need to file 2011 taxes   9. I need to file 2011 taxes Enter the gross condemnation award received   10. I need to file 2011 taxes Enter your expenses in getting the condemnation award   11. I need to file 2011 taxes If you completed Part 1, and line 4 is more than line 3, subtract line 3 from line 4. I need to file 2011 taxes If you did not complete Part 1, but a special assessment was taken out of your award, enter that amount. I need to file 2011 taxes Otherwise, enter -0-   12. I need to file 2011 taxes Add lines 10 and 11   13. I need to file 2011 taxes Net condemnation award. I need to file 2011 taxes Subtract line 12 from line 9   14. I need to file 2011 taxes Enter the adjusted basis of the condemned property   15. I need to file 2011 taxes Gain from condemnation award. I need to file 2011 taxes If line 14 is more than line 13, enter -0-. I need to file 2011 taxes Otherwise, subtract line 14 from  line 13 and skip line 16   16. I need to file 2011 taxes Loss from condemnation award. I need to file 2011 taxes Subtract line 13 from line 14     (Note: You cannot deduct the amount on line 16 if the condemned property was held for personal use. I need to file 2011 taxes )   Part 3. I need to file 2011 taxes Postponed gain from condemnation. I need to file 2011 taxes  (Complete only if line 7 or line 15 is more than zero and you bought qualifying replacement property or made expenditures to restore the usefulness of your remaining property. I need to file 2011 taxes )   17. I need to file 2011 taxes If you completed Part 1, and line 7 is more than zero, enter the amount from line 5. I need to file 2011 taxes Otherwise, enter -0-   18. I need to file 2011 taxes If line 15 is more than zero, enter the amount from line 13. I need to file 2011 taxes Otherwise, enter -0-   19. I need to file 2011 taxes Add lines 17 and 18. I need to file 2011 taxes If the condemned property was your main home, subtract from this total the gain you excluded from your income and enter the result   20. I need to file 2011 taxes Enter the total cost of replacement property and any expenses to restore the usefulness of your remaining property   21. I need to file 2011 taxes Subtract line 20 from line 19. I need to file 2011 taxes If less than zero, enter -0-   22. I need to file 2011 taxes If you completed Part 1, add lines 7 and 15. I need to file 2011 taxes Otherwise, enter the amount from line 15. I need to file 2011 taxes If the condemned property was your main home, subtract from this total the gain you excluded from your income and enter the result   23. I need to file 2011 taxes Recognized gain. I need to file 2011 taxes Enter the smaller of line 21 or line 22. I need to file 2011 taxes   24. I need to file 2011 taxes Postponed gain. I need to file 2011 taxes Subtract line 23 from line 22. I need to file 2011 taxes If less than zero, enter -0-   Condemnation award. I need to file 2011 taxes   A condemnation award is the money you are paid or the value of other property you receive for your condemned property. I need to file 2011 taxes The award is also the amount you are paid for the sale of your property under threat of condemnation. I need to file 2011 taxes Payment of your debts. I need to file 2011 taxes   Amounts taken out of the award to pay your debts are considered paid to you. I need to file 2011 taxes Amounts the government pays directly to the holder of a mortgage or lien against your property are part of your award, even if the debt attaches to the property and is not your personal liability. I need to file 2011 taxes Example. I need to file 2011 taxes The state condemned your property for public use. I need to file 2011 taxes The award was set at $200,000. I need to file 2011 taxes The state paid you only $148,000 because it paid $50,000 to your mortgage holder and $2,000 accrued real estate taxes. I need to file 2011 taxes You are considered to have received the entire $200,000 as a condemnation award. I need to file 2011 taxes Interest on award. I need to file 2011 taxes   If the condemning authority pays you interest for its delay in paying your award, it is not part of the condemnation award. I need to file 2011 taxes You must report the interest separately as ordinary income. I need to file 2011 taxes Payments to relocate. I need to file 2011 taxes   Payments you receive to relocate and replace housing because you have been displaced from your home, business, or farm as a result of federal or federally assisted programs are not part of the condemnation award. I need to file 2011 taxes Do not include them in your income. I need to file 2011 taxes Replacement housing payments used to buy new property are included in the property's basis as part of your cost. I need to file 2011 taxes Net condemnation award. I need to file 2011 taxes   A net condemnation award is the total award you received, or are considered to have received, for the condemned property minus your expenses of obtaining the award. I need to file 2011 taxes If only a part of your property was condemned, you also must reduce the award by any special assessment levied against the part of the property you retain. I need to file 2011 taxes This is discussed later under Special assessment taken out of award. I need to file 2011 taxes Severance damages. I need to file 2011 taxes    Severance damages are not part of the award paid for the property condemned. I need to file 2011 taxes They are paid to you if part of your property is condemned and the value of the part you keep is decreased because of the condemnation. I need to file 2011 taxes   For example, you may receive severance damages if your property is subject to flooding because you sell flowage easement rights (the condemned property) under threat of condemnation. I need to file 2011 taxes Severance damages also may be given to you if, because part of your property is condemned for a highway, you must replace fences, dig new wells or ditches, or plant trees to restore your remaining property to the same usefulness it had before the condemnation. I need to file 2011 taxes   The contracting parties should agree on the specific amount of severance damages in writing. I need to file 2011 taxes If this is not done, all proceeds from the condemning authority are considered awarded for your condemned property. I need to file 2011 taxes   You cannot make a completely new allocation of the total award after the transaction is completed. I need to file 2011 taxes However, you can show how much of the award both parties intended for severance damages. I need to file 2011 taxes The severance damages part of the award is determined from all the facts and circumstances. I need to file 2011 taxes Example. I need to file 2011 taxes You sold part of your property to the state under threat of condemnation. I need to file 2011 taxes The contract you and the condemning authority signed showed only the total purchase price. I need to file 2011 taxes It did not specify a fixed sum for severance damages. I need to file 2011 taxes However, at settlement, the condemning authority gave you closing papers showing clearly the part of the purchase price that was for severance damages. I need to file 2011 taxes You may treat this part as severance damages. I need to file 2011 taxes Treatment of severance damages. I need to file 2011 taxes   Your net severance damages are treated as the amount realized from an involuntary conversion of the remaining part of your property. I need to file 2011 taxes Use them to reduce the basis of the remaining property. I need to file 2011 taxes If the amount of severance damages is based on damage to a specific part of the property you kept, reduce the basis of only that part by the net severance damages. I need to file 2011 taxes   If your net severance damages are more than the basis of your retained property, you have a gain. I need to file 2011 taxes You may be able to postpone reporting the gain. I need to file 2011 taxes See Postponement of Gain, later. I need to file 2011 taxes    You can use Part 1 of Table 1-3 to figure any gain from severance damages and to refigure the adjusted basis of the remaining part of your property. I need to file 2011 taxes Net severance damages. I need to file 2011 taxes   To figure your net severance damages, you first must reduce your severance damages by your expenses in obtaining the damages. I need to file 2011 taxes You then reduce them by any special assessment (described later) levied against the remaining part of the property and retained out of the award by the condemning authority. I need to file 2011 taxes The balance is your net severance damages. I need to file 2011 taxes Expenses of obtaining a condemnation award and severance damages. I need to file 2011 taxes   Subtract the expenses of obtaining a condemnation award, such as legal, engineering, and appraisal fees, from the total award. I need to file 2011 taxes Also, subtract the expenses of obtaining severance damages, which may include similar expenses, from the severance damages paid to you. I need to file 2011 taxes If you cannot determine which part of your expenses is for each part of the condemnation proceeds, you must make a proportionate allocation. I need to file 2011 taxes Example. I need to file 2011 taxes You receive a condemnation award and severance damages. I need to file 2011 taxes One-fourth of the total was designated as severance damages in your agreement with the condemning authority. I need to file 2011 taxes You had legal expenses for the entire condemnation proceeding. I need to file 2011 taxes You cannot determine how much of your legal expenses is for each part of the condemnation proceeds. I need to file 2011 taxes You must allocate one-fourth of your legal expenses to the severance damages and the other three-fourths to the condemnation award. I need to file 2011 taxes Special assessment retained out of award. I need to file 2011 taxes   When only part of your property is condemned, a special assessment levied against the remaining property may be retained by the governing body out of your condemnation award. I need to file 2011 taxes An assessment may be levied if the remaining part of your property benefited by the improvement resulting from the condemnation. I need to file 2011 taxes Examples of improvements that may cause a special assessment are widening a street and installing a sewer. I need to file 2011 taxes   To figure your net condemnation award, you must reduce the amount of the award by the assessment retained out of the award. I need to file 2011 taxes Example. I need to file 2011 taxes To widen the street in front of your home, the city condemned a 25-foot deep strip of your land. I need to file 2011 taxes You were awarded $5,000 for this and spent $300 to get the award. I need to file 2011 taxes Before paying the award, the city levied a special assessment of $700 for the street improvement against your remaining property. I need to file 2011 taxes The city then paid you only $4,300. I need to file 2011 taxes Your net award is $4,000 ($5,000 total award minus $300 expenses in obtaining the award and $700 for the special assessment retained). I need to file 2011 taxes If the $700 special assessment was not retained out of the award and you were paid $5,000, your net award would be $4,700 ($5,000 − $300). I need to file 2011 taxes The net award would not change, even if you later paid the assessment from the amount you received. I need to file 2011 taxes Severance damages received. I need to file 2011 taxes   If severance damages are included in the condemnation proceeds, the special assessment retained out of the severance damages is first used to reduce the severance damages. I need to file 2011 taxes Any balance of the special assessment is used to reduce the condemnation award. I need to file 2011 taxes Example. I need to file 2011 taxes You were awarded $4,000 for the condemnation of your property and $1,000 for severance damages. I need to file 2011 taxes You spent $300 to obtain the severance damages. I need to file 2011 taxes A special assessment of $800 was retained out of the award. I need to file 2011 taxes The $1,000 severance damages are reduced to zero by first subtracting the $300 expenses and then $700 of the special assessment. I need to file 2011 taxes Your $4,000 condemnation award is reduced by the $100 balance of the special assessment, leaving a $3,900 net condemnation award. I need to file 2011 taxes Part business or rental. I need to file 2011 taxes   If you used part of your condemned property as your home and part as business or rental property, treat each part as a separate property. I need to file 2011 taxes Figure your gain or loss separately because gain or loss on each part may be treated differently. I need to file 2011 taxes   Some examples of this type of property are a building in which you live and operate a grocery, and a building in which you live on the first floor and rent out the second floor. I need to file 2011 taxes Example. I need to file 2011 taxes You sold your building for $24,000 under threat of condemnation to a public utility company that had the authority to condemn. I need to file 2011 taxes You rented half the building and lived in the other half. I need to file 2011 taxes You paid $25,000 for the building and spent an additional $1,000 for a new roof. I need to file 2011 taxes You claimed allowable depreciation of $4,600 on the rental half. I need to file 2011 taxes You spent $200 in legal expenses to obtain the condemnation award. I need to file 2011 taxes Figure your gain or loss as follows. I need to file 2011 taxes     Resi- dential Part Busi- ness Part 1) Condemnation award received $12,000 $12,000 2) Minus: Legal expenses, $200 100 100 3) Net condemnation award $11,900 $11,900 4) Adjusted basis:       ½ of original cost, $25,000 $12,500 $12,500   Plus: ½ of cost of roof, $1,000 500 500   Total $13,000 $13,000 5) Minus: Depreciation   4,600 6) Adjusted basis, business part   $8,400 7) (Loss) on residential property ($1,100)   8) Gain on business property $3,500 The loss on the residential part of the property is not deductible. I need to file 2011 taxes Postponement of Gain Do not report the gain on condemned property if you receive only property that is similar or related in service or use to the condemned property. I need to file 2011 taxes Your basis for the new property is the same as your basis for the old. I need to file 2011 taxes Money or unlike property received. I need to file 2011 taxes   You ordinarily must report the gain if you receive money or unlike property. I need to file 2011 taxes You can elect to postpone reporting the gain if you buy property that is similar or related in service or use to the condemned property within the replacement period, discussed later. I need to file 2011 taxes You also can elect to postpone reporting the gain if you buy a controlling interest (at least 80%) in a corporation owning property that is similar or related in service or use to the condemned property. I need to file 2011 taxes See Controlling interest in a corporation, later. I need to file 2011 taxes   To postpone reporting all the gain, you must buy replacement property costing at least as much as the amount realized for the condemned property. I need to file 2011 taxes If the cost of the replacement property is less than the amount realized, you must report the gain up to the unspent part of the amount realized. I need to file 2011 taxes   The basis of the replacement property is its cost, reduced by the postponed gain. I need to file 2011 taxes Also, if your replacement property is stock in a corporation that owns property similar or related in service or use, the corporation generally will reduce its basis in its assets by the amount by which you reduce your basis in the stock. I need to file 2011 taxes See Controlling interest in a corporation, later. I need to file 2011 taxes You can use Part 3 of Table 1-3 to figure the gain you must report and your postponed gain. I need to file 2011 taxes Postponing gain on severance damages. I need to file 2011 taxes   If you received severance damages for part of your property because another part was condemned and you buy replacement property, you can elect to postpone reporting gain. I need to file 2011 taxes See Treatment of severance damages, earlier. I need to file 2011 taxes You can postpone reporting all your gain if the replacement property costs at least as much as your net severance damages plus your net condemnation award (if resulting in gain). I need to file 2011 taxes   You also can make this election if you spend the severance damages, together with other money you received for the condemned property (if resulting in gain), to acquire nearby property that will allow you to continue your business. I need to file 2011 taxes If suitable nearby property is not available and you are forced to sell the remaining property and relocate in order to continue your business, see Postponing gain on the sale of related property, next. I need to file 2011 taxes   If you restore the remaining property to its former usefulness, you can treat the cost of restoring it as the cost of replacement property. I need to file 2011 taxes Postponing gain on the sale of related property. I need to file 2011 taxes   If you sell property that is related to the condemned property and then buy replacement property, you can elect to postpone reporting gain on the sale. I need to file 2011 taxes You must meet the requirements explained earlier under Related property voluntarily sold. I need to file 2011 taxes You can postpone reporting all your gain if the replacement property costs at least as much as the amount realized from the sale plus your net condemnation award (if resulting in gain) plus your net severance damages, if any (if resulting in gain). I need to file 2011 taxes Buying replacement property from a related person. I need to file 2011 taxes   Certain taxpayers cannot postpone reporting gain from a condemnation if they buy the replacement property from a related person. I need to file 2011 taxes For information on related persons, see Nondeductible Loss under Sales and Exchanges Between Related Persons in chapter 2. I need to file 2011 taxes   This rule applies to the following taxpayers. I need to file 2011 taxes C corporations. I need to file 2011 taxes Partnerships in which more than 50% of the capital or profits interest is owned by  C corporations. I need to file 2011 taxes All others (including individuals, partnerships (other than those in (2)), and S corporations) if the total realized gain for the tax year on all involuntarily converted properties on which there is realized gain of more than $100,000. I need to file 2011 taxes   For taxpayers described in (3) above, gains cannot be offset with any losses when determining whether the total gain is more than $100,000. I need to file 2011 taxes If the property is owned by a partnership, the $100,000 limit applies to the partnership and each partner. I need to file 2011 taxes If the property is owned by an S corporation, the $100,000 limit applies to the S corporation and each shareholder. I need to file 2011 taxes Exception. I need to file 2011 taxes   This rule does not apply if the related person acquired the property from an unrelated person within the replacement period. I need to file 2011 taxes Advance payment. I need to file 2011 taxes   If you pay a contractor in advance to build your replacement property, you have not bought replacement property unless it is finished before the end of the replacement period (discussed later). I need to file 2011 taxes Replacement property. I need to file 2011 taxes   To postpone reporting gain, you must buy replacement property for the specific purpose of replacing your condemned property. I need to file 2011 taxes You do not have to use the actual funds from the condemnation award to acquire the replacement property. I need to file 2011 taxes Property you acquire by gift or inheritance does not qualify as replacement property. I need to file 2011 taxes Similar or related in service or use. I need to file 2011 taxes   Your replacement property must be similar or related in service or use to the property it replaces. I need to file 2011 taxes   If the condemned property is real property you held for productive use in your trade or business or for investment (other than property held mainly for sale), like-kind property to be held either for productive use in trade or business or for investment will be treated as property similar or related in service or use. I need to file 2011 taxes For a discussion of like-kind property, see Like-Kind Property under Like-Kind Exchanges, later. I need to file 2011 taxes Owner-user. I need to file 2011 taxes   If you are an owner-user, similar or related in service or use means that replacement property must function in the same way as the property it replaces. I need to file 2011 taxes Example. I need to file 2011 taxes Your home was condemned and you invested the proceeds from the condemnation in a grocery store. I need to file 2011 taxes Your replacement property is not similar or related in service or use to the condemned property. I need to file 2011 taxes To be similar or related in service or use, your replacement property must also be used by you as your home. I need to file 2011 taxes Owner-investor. I need to file 2011 taxes   If you are an owner-investor, similar or related in service or use means that any replacement property must have the same relationship of services or uses to you as the property it replaces. I need to file 2011 taxes You decide this by determining all the following information. I need to file 2011 taxes Whether the properties are of similar service to you. I need to file 2011 taxes The nature of the business risks connected with the properties. I need to file 2011 taxes What the properties demand of you in the way of management, service, and relations to your tenants. I need to file 2011 taxes Example. I need to file 2011 taxes You owned land and a building you rented to a manufacturing company. I need to file 2011 taxes The building was condemned. I need to file 2011 taxes During the replacement period, you had a new building built on other land you already owned. I need to file 2011 taxes You rented out the new building for use as a wholesale grocery warehouse. I need to file 2011 taxes The replacement property is also rental property, so the two properties are considered similar or related in service or use if there is a similarity in all the following areas. I need to file 2011 taxes Your management activities. I need to file 2011 taxes The amount and kind of services you provide to your tenants. I need to file 2011 taxes The nature of your business risks connected with the properties. I need to file 2011 taxes Leasehold replaced with fee simple property. I need to file 2011 taxes   Fee simple property you will use in your trade or business or for investment can qualify as replacement property that is similar or related in service or use to a condemned leasehold if you use it in the same business and for the identical purpose as the condemned leasehold. I need to file 2011 taxes   A fee simple property interest generally is a property interest that entitles the owner to the entire property with unconditional power to dispose of it during his or her lifetime. I need to file 2011 taxes A leasehold is property held under a lease, usually for a term of years. I need to file 2011 taxes Outdoor advertising display replaced with real property. I need to file 2011 taxes   You can elect to treat an outdoor advertising display as real property. I need to file 2011 taxes If you make this election and you replace the display with real property in which you hold a different kind of interest, your replacement property can qualify as like-kind property. I need to file 2011 taxes For example, real property bought to replace a destroyed billboard and leased property on which the billboard was located qualify as property of a like-kind. I need to file 2011 taxes   You can make this election only if you did not claim a section 179 deduction for the display. I need to file 2011 taxes You cannot cancel this election unless you get the consent of the IRS. I need to file 2011 taxes   An outdoor advertising display is a sign or device rigidly assembled and permanently attached to the ground, a building, or any other permanent structure used to display a commercial or other advertisement to the public. I need to file 2011 taxes Substituting replacement property. I need to file 2011 taxes   Once you designate certain property as replacement property on your tax return, you cannot substitute other qualified property. I need to file 2011 taxes But, if your previously designated replacement property does not qualify, you can substitute qualified property if you acquire it within the replacement period. I need to file 2011 taxes Controlling interest in a corporation. I need to file 2011 taxes   You can replace property by acquiring a controlling interest in a corporation that owns property similar or related in service or use to your condemned property. I need to file 2011 taxes You have controlling interest if you own stock having at least 80% of the combined voting power of all classes of stock entitled to vote and at least 80% of the total number of shares of all other classes of stock of the corporation. I need to file 2011 taxes Basis adjustment to corporation's property. I need to file 2011 taxes   The basis of property held by the corporation at the time you acquired control must be reduced by your postponed gain, if any. I need to file 2011 taxes You are not required to reduce the adjusted basis of the corporation's properties below your adjusted basis in the corporation's stock (determined after reduction by your postponed gain). I need to file 2011 taxes   Allocate this reduction to the following classes of property in the order shown below. I need to file 2011 taxes Property that is similar or related in service or use to the condemned property. I need to file 2011 taxes Depreciable property not reduced in (1). I need to file 2011 taxes All other property. I need to file 2011 taxes If two or more properties fall in the same class, allocate the reduction to each property in proportion to the adjusted basis of all the properties in that class. I need to file 2011 taxes The reduced basis of any single property cannot be less than zero. I need to file 2011 taxes Main home replaced. I need to file 2011 taxes   If your gain from a condemnation of your main home is more than you can exclude from your income (see Main home condemned under Gain or Loss From Condemnations, earlier), you can postpone reporting the rest of the gain by buying replacement property that is similar or related in service or use. I need to file 2011 taxes The replacement property must cost at least as much as the amount realized from the condemnation minus the excluded gain. I need to file 2011 taxes   You must reduce the basis of your replacement property by the postponed gain. I need to file 2011 taxes Also, if you postpone reporting any part of your gain under these rules, you are treated as having owned and used the replacement property as your main home for the period you owned and used the condemned property as your main home. I need to file 2011 taxes Example. I need to file 2011 taxes City authorities condemned your home that you had used as a personal residence for 5 years prior to the condemnation. I need to file 2011 taxes The city paid you a condemnation award of $400,000. I need to file 2011 taxes Your adjusted basis in the property was $80,000. I need to file 2011 taxes You realize a gain of $320,000 ($400,000 − $80,000). I need to file 2011 taxes You purchased a new home for $100,000. I need to file 2011 taxes You can exclude $250,000 of the realized gain from your gross income. I need to file 2011 taxes The amount realized is then treated as being $150,000 ($400,000 − $250,000) and the gain realized is $70,000 ($150,000 amount realized − $80,000 adjusted basis). I need to file 2011 taxes You must recognize $50,000 of the gain ($150,000 amount realized − $100,000 cost of new home). I need to file 2011 taxes The remaining $20,000 of realized gain is postponed. I need to file 2011 taxes Your basis in the new home is $80,000 ($100,000 cost − $20,000 gain postponed). I need to file 2011 taxes Replacement period. I need to file 2011 taxes   To postpone reporting your gain from a condemnation, you must buy replacement property within a certain period of time. I need to file 2011 taxes This is the replacement period. I need to file 2011 taxes   The replacement period for a condemnation begins on the earlier of the following dates. I need to file 2011 taxes The date on which you disposed of the condemned property. I need to file 2011 taxes The date on which the threat of condemnation began. I need to file 2011 taxes   The replacement period generally ends 2 years after the end of the first tax year in which any part of the gain on the condemnation is realized. I need to file 2011 taxes However, see the exceptions below. I need to file 2011 taxes Three-year replacement period for certain property. I need to file 2011 taxes   If real property held for use in a trade or business or for investment (not including property held primarily for sale) is condemned, the replacement period ends 3 years after the end of the first tax year in which any part of the gain on the condemnation is realized. I need to file 2011 taxes However, this 3-year replacement period cannot be used if you replace the condemned property by acquiring control of a corporation owning property that is similar or related in service or use. I need to file 2011 taxes Five-year replacement period for certain property. I need to file 2011 taxes   The replacement period ends 5 years after the end of the first tax year in which any part of the gain is realized on the compulsory or involuntary conversion of the following qualified property. I need to file 2011 taxes Property in any Midwestern disaster area compulsorily or involuntarily converted on or after the applicable disaster date as a result of severe storms, tornadoes, or flooding, but only if substantially all of the use of the replacement property is in a Midwestern disaster area. I need to file 2011 taxes Property in the Kansas disaster area compulsorily or involuntarily converted after May 3, 2007, but only if substantially all of the use of the replacement property is in the Kansas disaster area. I need to file 2011 taxes Property in the Hurricane Katrina disaster area compulsorily or involuntarily converted after August 24, 2005, as a result of Hurricane Katrina, but only if substantially all of the use of the replacement property is in the Hurricane Katrina disaster area. I need to file 2011 taxes Extended replacement period for taxpayers affected by other federally declared disasters. I need to file 2011 taxes    If you are affected by a federally declared disaster, the IRS may grant disaster relief by extending the periods to perform certain tax-related acts for 2013, including the replacement period, by up to one year. I need to file 2011 taxes For more information visit www. I need to file 2011 taxes irs. I need to file 2011 taxes gov/uac/Tax-Relief-in-Disaster-Situations. I need to file 2011 taxes Weather-related sales of livestock in an area eligible for federal assistance. I need to file 2011 taxes   Generally, if the sale or exchange of livestock is due to drought, flood, or other weather-related conditions in an area eligible for federal assistance, the replacement period ends 4 years after the close of the first tax year in which you realize any part of your gain from the sale or exchange. I need to file 2011 taxes    If the weather-related conditions continue for longer than 3 years, the replacement period may be extended on a regional basis until the end of your first drought-free year for the applicable region. I need to file 2011 taxes See Notice 2006-82. I need to file 2011 taxes You can find Notice 2006-82 on page 529 of Internal Revenue Bulletin 2006-39 at www. I need to file 2011 taxes irs. I need to file 2011 taxes gov/irb/2006-39_IRB/ar13. I need to file 2011 taxes html. I need to file 2011 taxes    Each year, the IRS publishes a list of counties, districts, cities, or parishes for which exceptional, extreme, or severe drought was reported during the preceding 12 months. I need to file 2011 taxes If you qualified for a 4-year replacement period for livestock sold or exchanged on account of drought and your replacement period is scheduled to expire at the end of 2013 (or at the end of the tax year that includes August 31, 2013), see Notice 2013-62. I need to file 2011 taxes You can find Notice 2013-62 on page 466 of Internal Revenue Bulletin 2013-45 at www. I need to file 2011 taxes irs. I need to file 2011 taxes gov/irb/2013-45_IRB/ar04. I need to file 2011 taxes html. I need to file 2011 taxes The replacement period will be extended under Notice 2006-82 if the applicable region is on the list included in Notice 2013-62. I need to file 2011 taxes Determining when gain is realized. I need to file 2011 taxes   If you are a cash basis taxpayer, you realize gain when you receive payments that are more than your basis in the property. I need to file 2011 taxes If the condemning authority makes deposits with the court, you realize gain when you withdraw (or have the right to withdraw) amounts that are more than your basis. I need to file 2011 taxes   This applies even if the amounts received are only partial or advance payments and the full award has not yet been determined. I need to file 2011 taxes A replacement will be too late if you wait for a final determination that does not take place in the applicable replacement period after you first realize gain. I need to file 2011 taxes   For accrual basis taxpayers, gain (if any) accrues in the earlier year when either of the following occurs. I need to file 2011 taxes All events have occurred that fix the right to the condemnation award and the amount can be determined with reasonable accuracy. I need to file 2011 taxes All or part of the award is actually or constructively received. I need to file 2011 taxes For example, if you have an absolute right to a part of a condemnation award when it is deposited with the court, the amount deposited accrues in the year the deposit is made even though the full amount of the award is still contested. I need to file 2011 taxes Replacement property bought before the condemnation. I need to file 2011 taxes   If you buy your replacement property after there is a threat of condemnation but before the actual condemnation and you still hold the replacement property at the time of the condemnation, you have bought your replacement property within the replacement period. I need to file 2011 taxes Property you acquire before there is a threat of condemnation does not qualify as replacement property acquired within the replacement period. I need to file 2011 taxes Example. I need to file 2011 taxes On April 3, 2012, city authorities notified you that your property would be condemned. I need to file 2011 taxes On June 5, 2012, you acquired property to replace the property to be condemned. I need to file 2011 taxes You still had the new property when the city took possession of your old property on September 4, 2013. I need to file 2011 taxes You have made a replacement within the replacement period. I need to file 2011 taxes Extension. I need to file 2011 taxes   You can request an extension of the replacement period from the IRS director for your area. I need to file 2011 taxes You should apply before the end of the replacement period. I need to file 2011 taxes Your request should explain in detail why you need an extension. I need to file 2011 taxes The IRS will consider a request filed within a reasonable time after the replacement period if you can show reasonable cause for the delay. I need to file 2011 taxes An extension of the replacement period will be granted if you can show reasonable cause for not making the replacement within the regular period. I need to file 2011 taxes   Ordinarily, requests for extensions are granted near the end of the replacement period or the extended replacement period. I need to file 2011 taxes Extensions are usually limited to a period of 1 year or less. I need to file 2011 taxes The high market value or scarcity of replacement property is not a sufficient reason for granting an extension. I need to file 2011 taxes If your replacement property is being built and you clearly show that the replacement or restoration cannot be made within the replacement peri