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Irs 1040x

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Irs 1040x

Irs 1040x Publication 551 - Main Content Table of Contents Cost BasisStocks and Bonds Real Property Business Assets Allocating the Basis Adjusted BasisIncreases to Basis Decreases to Basis Adjustments to Basis Example Basis Other Than CostProperty Received for Services Taxable Exchanges Nontaxable Exchanges Property Transferred From a Spouse Property Received as a Gift Inherited Property Property Changed to Business or Rental Use How To Get Tax HelpLow Income Taxpayer Clinics (LITCs). Irs 1040x Cost Basis The basis of property you buy is usually its cost. Irs 1040x The cost is the amount you pay in cash, debt obligations, other property, or services. Irs 1040x Your cost also includes amounts you pay for the following items. Irs 1040x Sales tax, Freight, Installation and testing, Excise taxes, Legal and accounting fees (when they must be capitalized), Revenue stamps, Recording fees, and Real estate taxes (if assumed for the seller). Irs 1040x  You may also have to capitalize (add to basis) certain other costs related to buying or producing property. Irs 1040x Loans with low or no interest. Irs 1040x   If you buy property on a time-payment plan that charges little or no interest, the basis of your property is your stated purchase price, minus the amount considered to be unstated interest. Irs 1040x You generally have unstated interest if your interest rate is less than the applicable federal rate. Irs 1040x For more information, see Unstated Interest and Original Issue Discount in Publication 537. Irs 1040x Purchase of a business. Irs 1040x   When you purchase a trade or business, you generally purchase all assets used in the business operations, such as land, buildings, and machinery. Irs 1040x Allocate the price among the various assets, including any section 197 intangibles. Irs 1040x See Allocating the Basis, later. Irs 1040x Stocks and Bonds The basis of stocks or bonds you buy is generally the purchase price plus any costs of purchase, such as commissions and recording or transfer fees. Irs 1040x If you get stocks or bonds other than by purchase, your basis is usually determined by the fair market value (FMV) or the previous owner's adjusted basis of the stock. Irs 1040x You must adjust the basis of stocks for certain events that occur after purchase. Irs 1040x See Stocks and Bonds in chapter 4 of Publication 550 for more information on the basis of stock. Irs 1040x Identifying stock or bonds sold. Irs 1040x   If you can adequately identify the shares of stock or the bonds you sold, their basis is the cost or other basis of the particular shares of stock or bonds. Irs 1040x If you buy and sell securities at various times in varying quantities and you cannot adequately identify the shares you sell, the basis of the securities you sell is the basis of the securities you acquired first. Irs 1040x For more information about identifying securities you sell, see Stocks and Bonds under Basis of Investment Property in chapter 4 of Publication 550. Irs 1040x Mutual fund shares. Irs 1040x   If you sell mutual fund shares acquired at different times and prices, you can choose to use an average basis. Irs 1040x For more information, see Publication 550. Irs 1040x Real Property Real property, also called real estate, is land and generally anything built on or attached to it. Irs 1040x If you buy real property, certain fees and other expenses become part of your cost basis in the property. Irs 1040x Real estate taxes. Irs 1040x   If you pay real estate taxes the seller owed on real property you bought, and the seller did not reimburse you, treat those taxes as part of your basis. Irs 1040x You cannot deduct them as taxes. Irs 1040x   If you reimburse the seller for taxes the seller paid for you, you can usually deduct that amount as an expense in the year of purchase. Irs 1040x Do not include that amount in the basis of the property. Irs 1040x If you did not reimburse the seller, you must reduce your basis by the amount of those taxes. Irs 1040x Settlement costs. Irs 1040x   Your basis includes the settlement fees and closing costs for buying property. Irs 1040x You cannot include in your basis the fees and costs for getting a loan on property. Irs 1040x A fee for buying property is a cost that must be paid even if you bought the property for cash. Irs 1040x   The following items are some of the settlement fees or closing costs you can include in the basis of your property. Irs 1040x Abstract fees (abstract of title fees); Charges for installing utility services; Legal fees (including title search and preparation of the sales contract and deed); Recording fees; Surveys; Transfer taxes; Owner's title insurance; and Any amounts the seller owes that you agree to pay, such as back taxes or interest, recording or mortgage fees, charges for improvements or repairs, and sales commissions. Irs 1040x   Settlement costs do not include amounts placed in escrow for the future payment of items such as taxes and insurance. Irs 1040x   The following items are some settlement fees and closing costs you cannot include in the basis of the property. Irs 1040x Casualty insurance premiums. Irs 1040x Rent for occupancy of the property before closing. Irs 1040x Charges for utilities or other services related to occupancy of the property before closing. Irs 1040x Charges connected with getting a loan. Irs 1040x The following are examples of these charges. Irs 1040x Points (discount points, loan origination fees). Irs 1040x Mortgage insurance premiums. Irs 1040x Loan assumption fees. Irs 1040x Cost of a credit report. Irs 1040x Fees for an appraisal required by a lender. Irs 1040x Fees for refinancing a mortgage. Irs 1040x If these costs relate to business property, items (1) through (3) are deductible as business expenses. Irs 1040x Items (4) and (5) must be capitalized as costs of getting a loan and can be deducted over the period of the loan. Irs 1040x Points. Irs 1040x   If you pay points to obtain a loan (including a mortgage, second mortgage, line of credit, or a home equity loan), do not add the points to the basis of the related property. Irs 1040x Generally, you deduct the points over the term of the loan. Irs 1040x For more information on how to deduct points, see Points in chapter 4 of Publication 535. Irs 1040x Points on home mortgage. Irs 1040x   Special rules may apply to points you and the seller pay when you obtain a mortgage to purchase your main home. Irs 1040x If certain requirements are met, you can deduct the points in full for the year in which they are paid. Irs 1040x Reduce the basis of your home by any seller-paid points. Irs 1040x For more information, see Points in Publication 936, Home Mortgage Interest Deduction. Irs 1040x Assumption of mortgage. Irs 1040x   If you buy property and assume (or buy subject to) an existing mortgage on the property, your basis includes the amount you pay for the property plus the amount to be paid on the mortgage. Irs 1040x Example. Irs 1040x If you buy a building for $20,000 cash and assume a mortgage of $80,000 on it, your basis is $100,000. Irs 1040x Constructing assets. Irs 1040x   If you build property or have assets built for you, your expenses for this construction are part of your basis. Irs 1040x Some of these expenses include the following costs. Irs 1040x Land, Labor and materials, Architect's fees, Building permit charges, Payments to contractors, Payments for rental equipment, and Inspection fees. Irs 1040x In addition, if you own a business and use your employees, material, and equipment to build an asset, do not deduct the following expenses. Irs 1040x You must include them in the asset's basis. Irs 1040x Employee wages paid for the construction work, reduced by any employment credits allowed; Depreciation on equipment you own while it is used in the construction; Operating and maintenance costs for equipment used in the construction; and The cost of business supplies and materials used in the construction. Irs 1040x    Do not include the value of your own labor, or any other labor you did not pay for, in the basis of any property you construct. Irs 1040x Business Assets If you purchase property to use in your business, your basis is usually its actual cost to you. Irs 1040x If you construct, create, or otherwise produce property, you must capitalize the costs as your basis. Irs 1040x In certain circumstances, you may be subject to the uniform capitalization rules, next. Irs 1040x Uniform Capitalization Rules The uniform capitalization rules specify the costs you add to basis in certain circumstances. Irs 1040x Activities subject to the rules. Irs 1040x   You must use the uniform capitalization rules if you do any of the following in your trade or business or activity carried on for profit. Irs 1040x Produce real or tangible personal property for use in the business or activity, Produce real or tangible personal property for sale to customers, or Acquire property for resale. Irs 1040x However, this rule does not apply to personal property if your average annual gross receipts for the 3 previous tax years are $10 million or less. Irs 1040x   You produce property if you construct, build, install, manufacture, develop, improve, create, raise, or grow the property. Irs 1040x Treat property produced for you under a contract as produced by you up to the amount you pay or costs you otherwise incur for the property. Irs 1040x Tangible personal property includes films, sound recordings, video tapes, books, or similar property. Irs 1040x    Under the uniform capitalization rules, you must capitalize all direct costs and an allocable part of most indirect costs you incur due to your production or resale activities. Irs 1040x To capitalize means to include certain expenses in the basis of property you produce or in your inventory costs rather than deduct them as a current expense. Irs 1040x You recover these costs through deductions for depreciation, amortization, or cost of goods sold when you use, sell, or otherwise dispose of the property. Irs 1040x   Any cost you cannot use to figure your taxable income for any tax year is not subject to the uniform capitalization rules. Irs 1040x Example. Irs 1040x If you incur a business meal expense for which your deduction would be limited to 50% of the cost of the meal, that amount is subject to the uniform capitalization rules. Irs 1040x The nondeductible part of the cost is not subject to the uniform capitalization rules. Irs 1040x More information. Irs 1040x   For more information about these rules, see the regulations under section 263A of the Internal Revenue Code and Publication 538, Accounting Periods and Methods. Irs 1040x Exceptions. Irs 1040x   The following are not subject to the uniform capitalization rules. Irs 1040x Property you produce that you do not use in your trade, business, or activity conducted for profit; Qualified creative expenses you pay or incur as a free-lance (self-employed) writer, photographer, or artist that are otherwise deductible on your tax return; Property you produce under a long-term contract, except for certain home construction contracts; Research and experimental expenses deductible under section 174 of the Internal Revenue Code; and Costs for personal property acquired for resale if your (or your predecessor's) average annual gross receipts for the 3 previous tax years do not exceed $10 million. Irs 1040x For other exceptions to the uniform capitalization rules, see section 1. Irs 1040x 263A-1(b) of the regulations. Irs 1040x   For information on the special rules that apply to costs incurred in the business of farming, see chapter 6 of Publication 225, Farmer's Tax Guide. Irs 1040x Intangible Assets Intangible assets include goodwill, patents, copyrights, trademarks, trade names, and franchises. Irs 1040x The basis of an intangible asset is usually the cost to buy or create it. Irs 1040x If you acquire multiple assets, for example a going business for a lump sum, see Allocating the Basis below to figure the basis of the individual assets. Irs 1040x The basis of certain intangibles can be amortized. Irs 1040x See chapter 8 of Publication 535 for information on the amortization of these costs. Irs 1040x Patents. Irs 1040x   The basis of a patent you get for an invention is the cost of development, such as research and experimental expenditures, drawings, working models, and attorneys' and governmental fees. Irs 1040x If you deduct the research and experimental expenditures as current business expenses, you cannot include them in the basis of the patent. Irs 1040x The value of the inventor's time spent on an invention is not part of the basis. Irs 1040x Copyrights. Irs 1040x   If you are an author, the basis of a copyright will usually be the cost of getting the copyright plus copyright fees, attorneys' fees, clerical assistance, and the cost of plates that remain in your possession. Irs 1040x Do not include the value of your time as the author, or any other person's time you did not pay for. Irs 1040x Franchises, trademarks, and trade names. Irs 1040x   If you buy a franchise, trademark, or trade name, the basis is its cost, unless you can deduct your payments as a business expense. Irs 1040x Allocating the Basis If you buy multiple assets for a lump sum, allocate the amount you pay among the assets you receive. Irs 1040x You must make this allocation to figure your basis for depreciation and gain or loss on a later disposition of any of these assets. Irs 1040x See Trade or Business Acquired below. Irs 1040x Group of Assets Acquired If you buy multiple assets for a lump sum, you and the seller may agree to a specific allocation of the purchase price among the assets in the sales contract. Irs 1040x If this allocation is based on the value of each asset and you and the seller have adverse tax interests, the allocation generally will be accepted. Irs 1040x However, see Trade or Business Acquired, next. Irs 1040x Trade or Business Acquired If you acquire a trade or business, allocate the consideration paid to the various assets acquired. Irs 1040x Generally, reduce the consideration paid by any cash and general deposit accounts (including checking and savings accounts) received. Irs 1040x Allocate the remaining consideration to the other business assets received in proportion to (but not more than) their fair market value in the following order. Irs 1040x Certificates of deposit, U. Irs 1040x S. Irs 1040x Government securities, foreign currency, and actively traded personal property, including stock and securities. Irs 1040x Accounts receivable, other debt instruments, and assets you mark to market at least annually for federal income tax purposes. Irs 1040x Property of a kind that would properly be included in inventory if on hand at the end of the tax year or property held primarily for sale to customers in the ordinary course of business. Irs 1040x All other assets except section 197 intangibles, goodwill, and going concern value. Irs 1040x Section 197 intangibles except goodwill and going concern value. Irs 1040x Goodwill and going concern value (whether or not they qualify as section 197 intangibles). Irs 1040x Agreement. Irs 1040x   The buyer and seller may enter into a written agreement as to the allocation of any consideration or the fair market value (FMV) of any of the assets. Irs 1040x This agreement is binding on both parties unless the IRS determines the amounts are not appropriate. Irs 1040x Reporting requirement. Irs 1040x   Both the buyer and seller involved in the sale of business assets must report to the IRS the allocation of the sales price among section 197 intangibles and the other business assets. Irs 1040x Use Form 8594 to provide this information. Irs 1040x The buyer and seller should each attach Form 8594 to their federal income tax return for the year in which the sale occurred. Irs 1040x More information. Irs 1040x   See Sale of a Business in chapter 2 of Publication 544 for more information. Irs 1040x Land and Buildings If you buy buildings and the land on which they stand for a lump sum, allocate the basis of the property among the land and the buildings so you can figure the depreciation allowable on the buildings. Irs 1040x Figure the basis of each asset by multiplying the lump sum by a fraction. Irs 1040x The numerator is the FMV of that asset and the denominator is the FMV of the whole property at the time of purchase. Irs 1040x If you are not certain of the FMV of the land and buildings, you can allocate the basis based on their assessed values for real estate tax purposes. Irs 1040x Demolition of building. Irs 1040x   Add demolition costs and other losses incurred for the demolition of any building to the basis of the land on which the demolished building was located. Irs 1040x Do not claim the costs as a current deduction. Irs 1040x Modification of building. Irs 1040x   A modification of a building will not be treated as a demolition if the following conditions are satisfied. Irs 1040x 75 percent or more of the existing external walls of the building are retained in place as internal or external walls, and 75 percent or more of the existing internal structural framework of the building is retained in place. Irs 1040x   If the building is a certified historic structure, the modification must also be part of a certified rehabilitation. Irs 1040x   If these conditions are met, add the costs of the modifications to the basis of the building. Irs 1040x Subdivided lots. Irs 1040x   If you buy a tract of land and subdivide it, you must determine the basis of each lot. Irs 1040x This is necessary because you must figure the gain or loss on the sale of each individual lot. Irs 1040x As a result, you do not recover your entire cost in the tract until you have sold all of the lots. Irs 1040x   To determine the basis of an individual lot, multiply the total cost of the tract by a fraction. Irs 1040x The numerator is the FMV of the lot and the denominator is the FMV of the entire tract. Irs 1040x Future improvement costs. Irs 1040x   If you are a developer and sell subdivided lots before the development work is completed, you can (with IRS consent) include in the basis of the properties sold an allocation of the estimated future cost for common improvements. Irs 1040x See Revenue Procedure 92–29 for more information, including an explanation of the procedures for getting consent from the IRS. Irs 1040x Use of erroneous cost basis. Irs 1040x   If you made a mistake in figuring the cost basis of subdivided lots sold in previous years, you cannot correct the mistake for years for which the statute of limitations (generally 3 tax years) has expired. Irs 1040x Figure the basis of any remaining lots by allocating the correct original cost basis of the entire tract among the original lots. Irs 1040x Example. Irs 1040x You bought a tract of land to which you assigned a cost of $15,000. Irs 1040x You subdivided the land into 15 building lots of equal size and equitably divided your basis so that each lot had a basis of $1,000. Irs 1040x You treated the sale of each lot as a separate transaction and figured gain or loss separately on each sale. Irs 1040x Several years later you determine that your original basis in the tract was $22,500 and not $15,000. Irs 1040x You sold eight lots using $8,000 of basis in years for which the statute of limitations has expired. Irs 1040x You now can take $1,500 of basis into account for figuring gain or loss only on the sale of each of the remaining seven lots ($22,500 basis divided among all 15 lots). Irs 1040x You cannot refigure the basis of the eight lots sold in tax years barred by the statute of limitations. Irs 1040x Adjusted Basis Before figuring gain or loss on a sale, exchange, or other disposition of property or figuring allowable depreciation, depletion, or amortization, you must usually make certain adjustments to the basis of the property. Irs 1040x The result of these adjustments to the basis is the adjusted basis. Irs 1040x Increases to Basis Increase the basis of any property by all items properly added to a capital account. Irs 1040x These include the cost of any improvements having a useful life of more than 1 year. Irs 1040x Rehabilitation expenses also increase basis. Irs 1040x However, you must subtract any rehabilitation credit allowed for these expenses before you add them to your basis. Irs 1040x If you have to recapture any of the credit, increase your basis by the recaptured amount. Irs 1040x If you make additions or improvements to business property, keep separate accounts for them. Irs 1040x Also, you must depreciate the basis of each according to the depreciation rules that would apply to the underlying property if you had placed it in service at the same time you placed the addition or improvement in service. Irs 1040x For more information, see Publication 946. Irs 1040x The following items increase the basis of property. Irs 1040x The cost of extending utility service lines to the property; Impact fees; Legal fees, such as the cost of defending and perfecting title; Legal fees for obtaining a decrease in an assessment levied against property to pay for local improvements; Zoning costs; and The capitalized value of a redeemable ground rent. Irs 1040x Assessments for Local Improvements Increase the basis of property by assessments for items such as paving roads and building ditches that increase the value of the property assessed. Irs 1040x Do not deduct them as taxes. Irs 1040x However, you can deduct as taxes charges for maintenance, repairs, or interest charges related to the improvements. Irs 1040x Example. Irs 1040x Your city changes the street in front of your store into an enclosed pedestrian mall and assesses you and other affected landowners for the cost of the conversion. Irs 1040x Add the assessment to your property's basis. Irs 1040x In this example, the assessment is a depreciable asset. Irs 1040x Deducting vs. Irs 1040x Capitalizing Costs Do not add to your basis costs you can deduct as current expenses. Irs 1040x For example, amounts paid for incidental repairs or maintenance that are deductible as business expenses cannot be added to basis. Irs 1040x However, you can choose either to deduct or to capitalize certain other costs. Irs 1040x If you capitalize these costs, include them in your basis. Irs 1040x If you deduct them, do not include them in your basis. Irs 1040x See Uniform Capitalization Rules earlier. Irs 1040x The costs you can choose to deduct or to capitalize include the following. Irs 1040x Carrying charges, such as interest and taxes, that you pay to own property, except carrying charges that must be capitalized under the uniform capitalization rules; Research and experimentation costs; Intangible drilling and development costs for oil, gas, and geothermal wells; Exploration costs for new mineral deposits; Mining development costs for a new mineral deposit; Costs of establishing, maintaining, or increasing the circulation of a newspaper or other periodical; and Costs of removing architectural and transportation barriers to people with disabilities and the elderly. Irs 1040x If you claim the disabled access credit, you must reduce the amount you deduct or capitalize by the amount of the credit. Irs 1040x For more information about deducting or capitalizing costs, see chapter 7 in Publication 535. Irs 1040x Table 1. Irs 1040x Examples of Increases and Decreases to Basis Increases to Basis Decreases to Basis Capital improvements:   Putting an addition on your home   Replacing an entire roof  Paving your driveway  Installing central air conditioning Rewiring your home Exclusion from income of subsidies for energy conservation measures  Casualty or theft loss deductions and insurance reimbursements  Vehicle credits Assessments for local improvements: Water connections Sidewalks Roads Section 179 deduction  Casualty losses: Restoring damaged property Depreciation  Nontaxable corporate distributions Legal fees:  Cost of defending and perfecting a title   Zoning costs   Decreases to Basis The following are some items that reduce the basis of property. Irs 1040x Section 179 deduction; Nontaxable corporate distributions; Deductions previously allowed (or allowable) for amortization, depreciation, and depletion; Exclusion of subsidies for energy conservation measures; Vehicle credits; Residential energy credits; Postponed gain from sale of home; Investment credit (part or all) taken; Casualty and theft losses and insurance reimbursement; Certain canceled debt excluded from income; Rebates from a manufacturer or seller; Easements; Gas-guzzler tax; Adoption tax benefits; and Credit for employer-provided child care. Irs 1040x Some of these items are discussed next. Irs 1040x Casualties and Thefts If you have a casualty or theft loss, decrease the basis in your property by any insurance or other reimbursement and by any deductible loss not covered by insurance. Irs 1040x You must increase your basis in the property by the amount you spend on repairs that substantially prolong the life of the property, increase its value, or adapt it to a different use. Irs 1040x To make this determination, compare the repaired property to the property before the casualty. Irs 1040x For more information on casualty and theft losses, see Publication 547, Casualties, Disasters, and Thefts. Irs 1040x Easements The amount you receive for granting an easement is generally considered to be a sale of an interest in real property. Irs 1040x It reduces the basis of the affected part of the property. Irs 1040x If the amount received is more than the basis of the part of the property affected by the easement, reduce your basis in that part to zero and treat the excess as a recognized gain. Irs 1040x Vehicle Credits Unless you elect not to claim the qualified plug-in electric vehicle credit, the alternative motor vehicle credit, or the qualified plug-in electric drive motor vehicle credit, you may have to reduce the basis of each qualified vehicle by certain amounts reported. Irs 1040x For more information, see Form 8834, Qualified Plug-in Electric and Electric Vehicle Credit; Form 8910, Alternative Motor Vehicle Credit; Form 8936, Qualified Plug-in Electric Drive Motor Vehicle Credit;and the related instructions. Irs 1040x Gas-Guzzler Tax Decrease the basis in your car by the gas-guzzler (fuel economy) tax if you begin using the car within 1 year of the date of its first sale for ultimate use. Irs 1040x This rule also applies to someone who later buys the car and begins using it not more than 1 year after the original sale for ultimate use. Irs 1040x If the car is imported, the one-year period begins on the date of entry or withdrawal of the car from the warehouse if that date is later than the date of the first sale for ultimate use. Irs 1040x Section 179 Deduction If you take the section 179 deduction for all or part of the cost of qualifying business property, decrease the basis of the property by the deduction. Irs 1040x For more information about the section 179 deduction, see Publication 946. Irs 1040x Exclusion of Subsidies for Energy Conservation Measures You can exclude from gross income any subsidy you received from a public utility company for the purchase or installation of any energy conservation measure for a dwelling unit. Irs 1040x Reduce the basis of the property for which you received the subsidy by the excluded amount. Irs 1040x For more information on this subsidy, see Publication 525. Irs 1040x Depreciation Decrease the basis of property by the depreciation you deducted, or could have deducted, on your tax returns under the method of depreciation you chose. Irs 1040x If you took less depreciation than you could have under the method chosen, decrease the basis by the amount you could have taken under that method. Irs 1040x If you did not take a depreciation deduction, reduce the basis by the full amount of the depreciation you could have taken. Irs 1040x Unless a timely election is made not to deduct the special depreciation allowance for property placed in service after September 10, 2001, decrease the property's basis by the special depreciation allowance you deducted or could have deducted. Irs 1040x If you deducted more depreciation than you should have, decrease your basis by the amount equal to the depreciation you should have deducted plus the part of the excess depreciation you deducted that actually reduced your tax liability for the year. Irs 1040x In decreasing your basis for depreciation, take into account the amount deducted on your tax returns as depreciation and any depreciation capitalized under the uniform capitalization rules. Irs 1040x For information on figuring depreciation, see Publication 946. Irs 1040x If you are claiming depreciation on a business vehicle, see Publication 463. Irs 1040x If the car is not used more than 50% for business during the tax year, you may have to recapture excess depreciation. Irs 1040x Include the excess depreciation in your gross income and add it to your basis in the property. Irs 1040x For information on the computation of excess depreciation, see chapter 4 in Publication 463. Irs 1040x Canceled Debt Excluded From Income If a debt you owe is canceled or forgiven, other than as a gift or bequest, you generally must include the canceled amount in your gross income for tax purposes. Irs 1040x A debt includes any indebtedness for which you are liable or which attaches to property you hold. Irs 1040x You can exclude canceled debt from income in the following situations. Irs 1040x Debt canceled in a bankruptcy case or when you are insolvent, Qualified farm debt, and Qualified real property business debt (provided you are not a C corporation). Irs 1040x If you exclude from income canceled debt under situation (1) or (2), you may have to reduce the basis of your depreciable and nondepreciable property. Irs 1040x However, in situation (3), you must reduce the basis of your depreciable property by the excluded amount. Irs 1040x For more information about canceled debt in a bankruptcy case or during insolvency, see Publication 908, Bankruptcy Tax Guide. Irs 1040x For more information about canceled debt that is qualified farm debt, see chapter 3 in Publication 225. Irs 1040x For more information about qualified real property business debt, see chapter 5 in Publication 334, Tax Guide for Small Business. Irs 1040x Postponed Gain From Sale of Home If you postponed gain from the sale of your main home before May 7, 1997, you must reduce the basis of your new home by the postponed gain. Irs 1040x For more information on the rules for the sale of a home, see Publication 523. Irs 1040x Adoption Tax Benefits If you claim an adoption credit for the cost of improvements you added to the basis of your home, decrease the basis of your home by the credit allowed. Irs 1040x This also applies to amounts you received under an employer's adoption assistance program and excluded from income. Irs 1040x For more information Form 8839, Qualified Adoption Expenses. Irs 1040x Employer-Provided Child Care If you are an employer, you can claim the employer-provided child care credit on amounts you paid or incurred to acquire, construct, rehabilitate, or expand property used as part of your qualified child care facility. Irs 1040x You must reduce your basis in that property by the credit claimed. Irs 1040x For more information, see Form 8882, Credit for Employer-Provided Child Care Facilities and Services. Irs 1040x Adjustments to Basis Example In January 2005, you paid $80,000 for real property to be used as a factory. Irs 1040x You also paid commissions of $2,000 and title search and legal fees of $600. Irs 1040x You allocated the total cost of $82,600 between the land and the building—$10,325 for the land and $72,275 for the building. Irs 1040x Immediately you spent $20,000 in remodeling the building before you placed it in service. Irs 1040x You were allowed depreciation of $14,526 for the years 2005 through 2009. Irs 1040x In 2008 you had a $5,000 casualty loss from a that was not covered by insurance on the building. Irs 1040x You claimed a deduction for this loss. Irs 1040x You spent $5,500 to repair the damages and extend the useful life of the building. Irs 1040x The adjusted basis of the building on January 1, 2010, is figured as follows: Original cost of building including fees and commissions $72,275 Adjustments to basis:     Add:         Improvements 20,000   Repair of damages 5,500       $97,775 Subtract:       Depreciation $14,526     Deducted casualty loss 5,000 19,526 Adjusted basis on January 1, 2010 $78,249 The basis of the land, $10,325, remains unchanged. Irs 1040x It is not affected by any of the above adjustments. Irs 1040x Basis Other Than Cost There are many times when you cannot use cost as basis. Irs 1040x In these cases, the fair market value or the adjusted basis of property may be used. Irs 1040x Adjusted basis is discussed earlier. Irs 1040x Fair market value (FMV). Irs 1040x   FMV is the price at which property would change hands between a buyer and a seller, neither having to buy or sell, and both having reasonable knowledge of all necessary facts. Irs 1040x Sales of similar property on or about the same date may be helpful in figuring the property's FMV. Irs 1040x Property Received for Services If you receive property for services, include the property's FMV in income. Irs 1040x The amount you include in income becomes your basis. Irs 1040x If the services were performed for a price agreed on beforehand, it will be accepted as the FMV of the property if there is no evidence to the contrary. Irs 1040x Bargain Purchases A bargain purchase is a purchase of an item for less than its FMV. Irs 1040x If, as compensation for services, you purchase goods or other property at less than FMV, include the difference between the purchase price and the property's FMV in your income. Irs 1040x Your basis in the property is its FMV (your purchase price plus the amount you include in income). Irs 1040x If the difference between your purchase price and the FMV represents a qualified employee discount, do not include the difference in income. Irs 1040x However, your basis in the property is still its FMV. Irs 1040x See Employee Discounts in Publication 15-B. Irs 1040x Restricted Property If you receive property for your services and the property is subject to certain restrictions, your basis in the property is its FMV when it becomes substantially vested unless you make the election discussed later. Irs 1040x Property becomes substantially vested when your rights in the property or the rights of any person to whom you transfer the property are not subject to a substantial risk of forfeiture. Irs 1040x There is substantial risk of forfeiture when the rights to full enjoyment of the property depend on the future performance of substantial services by any person. Irs 1040x When the property becomes substantially vested, include the FMV, less any amount you paid for the property, in income. Irs 1040x Example. Irs 1040x Your employer gives you stock for services performed under the condition that you will have to return the stock unless you complete 5 years of service. Irs 1040x The stock is under a substantial risk of forfeiture and is not substantially vested when you receive it. Irs 1040x You do not report any income until you have completed the 5 years of service that satisfy the condition. Irs 1040x Fair market value. Irs 1040x   Figure the FMV of property you received without considering any restriction except one that by its terms will never end. Irs 1040x Example. Irs 1040x You received stock from your employer for services you performed. Irs 1040x If you want to sell the stock while you are still employed, you must sell the stock to your employer at book value. Irs 1040x At your retirement or death, you or your estate must offer to sell the stock to your employer at its book value. Irs 1040x This is a restriction that by its terms will never end and you must consider it when you figure the FMV. Irs 1040x Election. Irs 1040x   You can choose to include in your gross income the FMV of the property at the time of transfer, less any amount you paid for it. Irs 1040x If you make this choice, the substantially vested rules do not apply. Irs 1040x Your basis is the amount you paid plus the amount you included in income. Irs 1040x   See the discussion of Restricted Property in Publication 525 for more information. Irs 1040x Taxable Exchanges A taxable exchange is one in which the gain is taxable or the loss is deductible. Irs 1040x A taxable gain or deductible loss is also known as a recognized gain or loss. Irs 1040x If you receive property in exchange for other property in a taxable exchange, the basis of property you receive is usually its FMV at the time of the exchange. Irs 1040x A taxable exchange occurs when you receive cash or property not similar or related in use to the property exchanged. Irs 1040x Example. Irs 1040x You trade a tract of farm land with an adjusted basis of $3,000 for a tractor that has an FMV of $6,000. Irs 1040x You must report a taxable gain of $3,000 for the land. Irs 1040x The tractor has a basis of $6,000. Irs 1040x Involuntary Conversions If you receive property as a result of an involuntary conversion, such as a casualty, theft, or condemnation, you can figure the basis of the replacement property you receive using the basis of the converted property. Irs 1040x Similar or related property. Irs 1040x   If you receive replacement property similar or related in service or use to the converted property, the replacement property's basis is the old property's basis on the date of the conversion. Irs 1040x However, make the following adjustments. Irs 1040x Decrease the basis by the following. Irs 1040x Any loss you recognize on the conversion, and Any money you receive that you do not spend on similar property. Irs 1040x Increase the basis by the following. Irs 1040x Any gain you recognize on the conversion, and Any cost of acquiring the replacement property. Irs 1040x Money or property not similar or related. Irs 1040x   If you receive money or property not similar or related in service or use to the converted property, and you buy replacement property similar or related in service or use to the converted property, the basis of the new property is its cost decreased by the gain not recognized on the conversion. Irs 1040x Example. Irs 1040x The state condemned your property. Irs 1040x The property had an adjusted basis of $26,000 and the state paid you $31,000 for it. Irs 1040x You realized a gain of $5,000 ($31,000 − $26,000). Irs 1040x You bought replacement property similar in use to the converted property for $29,000. Irs 1040x You recognize a gain of $2,000 ($31,000 − $29,000), the unspent part of the payment from the state. Irs 1040x Your gain not recognized is $3,000, the difference between the $5,000 realized gain and the $2,000 recognized gain. Irs 1040x The basis of the new property is figured as follows: Cost of replacement property $29,000 Minus: Gain not recognized 3,000 Basis of the replacement property $26,000 Allocating the basis. Irs 1040x   If you buy more than one piece of replacement property, allocate your basis among the properties based on their respective costs. Irs 1040x Example. Irs 1040x The state in the previous example condemned your unimproved real property and the replacement property you bought was improved real property with both land and buildings. Irs 1040x Allocate the replacement property's $26,000 basis between land and buildings based on their respective costs. Irs 1040x More information. Irs 1040x   For more information about condemnations, see Involuntary Conversions in Publication 544. Irs 1040x For more information about casualty and theft losses, see Publication 547. Irs 1040x Nontaxable Exchanges A nontaxable exchange is an exchange in which you are not taxed on any gain and you cannot deduct any loss. Irs 1040x If you receive property in a nontaxable exchange, its basis is usually the same as the basis of the property you transferred. Irs 1040x A nontaxable gain or loss is also known as an unrecognized gain or loss. Irs 1040x Like-Kind Exchanges The exchange of property for the same kind of property is the most common type of nontaxable exchange. Irs 1040x To qualify as a like-kind exchange, you must hold for business or investment purposes both the property you transfer and the property you receive. Irs 1040x There must also be an exchange of like-kind property. Irs 1040x For more information, see Like-Kind Exchanges in Publication 544. Irs 1040x The basis of the property you receive is the same as the basis of the property you gave up. Irs 1040x Example. Irs 1040x You exchange real estate (adjusted basis $50,000, FMV $80,000) held for investment for other real estate (FMV $80,000) held for investment. Irs 1040x Your basis in the new property is the same as the basis of the old ($50,000). Irs 1040x Exchange expenses. Irs 1040x   Exchange expenses are generally the closing costs you pay. Irs 1040x They include such items as brokerage commissions, attorney fees, deed preparation fees, etc. Irs 1040x Add them to the basis of the like-kind property received. Irs 1040x Property plus cash. Irs 1040x   If you trade property in a like-kind exchange and also pay money, the basis of the property received is the basis of the property you gave up increased by the money you paid. Irs 1040x Example. Irs 1040x You trade in a truck (adjusted basis $3,000) for another truck (FMV $7,500) and pay $4,000. Irs 1040x Your basis in the new truck is $7,000 (the $3,000 basis of the old truck plus the $4,000 paid). Irs 1040x Special rules for related persons. Irs 1040x   If a like-kind exchange takes place directly or indirectly between related persons and either party disposes of the property within 2 years after the exchange, the exchange no longer qualifies for like-kind exchange treatment. Irs 1040x Each person must report any gain or loss not recognized on the original exchange. Irs 1040x Each person reports it on the tax return filed for the year in which the later disposition occurs. Irs 1040x If this rule applies, the basis of the property received in the original exchange will be its fair market value. Irs 1040x   These rules generally do not apply to the following kinds of property dispositions. Irs 1040x Dispositions due to the death of either related person, Involuntary conversions, and Dispositions in which neither the original exchange nor the subsequent disposition had as a main purpose the avoidance of federal income tax. Irs 1040x Related persons. Irs 1040x   Generally, related persons are ancestors, lineal descendants, brothers and sisters (whole or half), and a spouse. Irs 1040x   For other related persons (for example, two corporations, an individual and a corporation, a grantor and fiduciary, etc. Irs 1040x ), see Nondeductible Loss in chapter 2 of Publication 544. Irs 1040x Exchange of business property. Irs 1040x   Exchanging the assets of one business for the assets of another business is a multiple property exchange. Irs 1040x For information on figuring basis, see Multiple Property Exchanges in chapter 1 of Publication 544. Irs 1040x Partially Nontaxable Exchange A partially nontaxable exchange is an exchange in which you receive unlike property or money in addition to like property. Irs 1040x The basis of the property you receive is the same as the basis of the property you gave up, with the following adjustments. Irs 1040x Decrease the basis by the following amounts. Irs 1040x Any money you receive, and Any loss you recognize on the exchange. Irs 1040x Increase the basis by the following amounts. Irs 1040x Any additional costs you incur, and Any gain you recognize on the exchange. Irs 1040x If the other party to the exchange assumes your liabilities, treat the debt assumption as money you received in the exchange. Irs 1040x Example. Irs 1040x You traded a truck (adjusted basis $6,000) for a new truck (FMV $5,200) and $1,000 cash. Irs 1040x You realized a gain of $200 ($6,200 − $6,000). Irs 1040x This is the FMV of the truck received plus the cash minus the adjusted basis of the truck you traded ($5,200 + $1,000 – $6,000). Irs 1040x You include all the gain in income (recognized gain) because the gain is less than the cash received. Irs 1040x Your basis in the new truck is: Adjusted basis of old truck $6,000 Minus: Cash received (adjustment 1(a)) 1,000   $5,000 Plus: Gain recognized (adjustment 2(b)) 200 Basis of new truck $5,200 Allocation of basis. Irs 1040x   Allocate the basis first to the unlike property, other than money, up to its FMV on the date of the exchange. Irs 1040x The rest is the basis of the like property. Irs 1040x Example. Irs 1040x You had an adjusted basis of $15,000 in real estate you held for investment. Irs 1040x You exchanged it for other real estate to be held for investment with an FMV of $12,500, a truck with an FMV of $3,000, and $1,000 cash. Irs 1040x The truck is unlike property. Irs 1040x You realized a gain of $1,500 ($16,500 − $15,000). Irs 1040x This is the FMV of the real estate received plus the FMV of the truck received plus the cash minus the adjusted basis of the real estate you traded ($12,500 + $3,000 + $1,000 – $15,000). Irs 1040x You include in income (recognize) all $1,500 of the gain because it is less than the FMV of the unlike property plus the cash received. Irs 1040x Your basis in the properties you received is figured as follows. Irs 1040x Adjusted basis of real estate transferred $15,000 Minus: Cash received (adjustment 1(a)) 1,000   $14,000 Plus: Gain recognized (adjustment 2(b)) 1,500 Total basis of properties received $15,500 Allocate the total basis of $15,500 first to the unlike property — the truck ($3,000). Irs 1040x This is the truck's FMV. Irs 1040x The rest ($12,500) is the basis of the real estate. Irs 1040x Sale and Purchase If you sell property and buy similar property in two mutually dependent transactions, you may have to treat the sale and purchase as a single nontaxable exchange. Irs 1040x Example. Irs 1040x You are a salesperson and you use one of your cars 100% for business. Irs 1040x You have used this car in your sales activities for 2 years and have depreciated it. Irs 1040x Your adjusted basis in the car is $22,600 and its FMV is $23,100. Irs 1040x You are interested in a new car, which sells for $28,000. Irs 1040x If you trade your old car and pay $4,900 for the new one, your basis for depreciation for the new car would be $27,500 ($4,900 plus the $22,600 basis of your old car). Irs 1040x However, you want a higher basis for depreciating the new car, so you agree to pay the dealer $28,000 for the new car if he will pay you $23,100 for your old car. Irs 1040x Because the two transactions are dependent on each other, you are treated as having exchanged your old car for the new one and paid $4,900 ($28,000 − $23,100). Irs 1040x Your basis for depreciating the new car is $27,500, the same as if you traded the old car. Irs 1040x Partial Business Use of Property If you have property used partly for business and partly for personal use, and you exchange it in a nontaxable exchange for property to be used wholly or partly in your business, the basis of the property you receive is figured as if you had exchanged two properties. Irs 1040x The first is an exchange of like-kind property. Irs 1040x The second is personal-use property on which gain is recognized and loss is not recognized. Irs 1040x First, figure your adjusted basis in the property as if you transferred two separate properties. Irs 1040x Figure the adjusted basis of each part of the property by taking into account any adjustments to basis. Irs 1040x Deduct the depreciation you took or could have taken from the adjusted basis of the business part. Irs 1040x Then figure the amount realized for your property and allocate it to the business and nonbusiness parts of the property. Irs 1040x The business part of the property is permitted to be exchanged tax free. Irs 1040x However, you must recognize any gain from the exchange of the nonbusiness part. Irs 1040x You are deemed to have received, in exchange for the nonbusiness part, an amount equal to its FMV on the date of the exchange. Irs 1040x The basis of the property you acquired is the total basis of the property transferred (adjusted to the date of the exchange), increased by any gain recognized on the nonbusiness part. Irs 1040x If the nonbusiness part of the property transferred is your main home, you may qualify to exclude from income all or part of the gain on that part. Irs 1040x For more information, see Publication 523. Irs 1040x Trade of car used partly in business. Irs 1040x   If you trade in a car you used partly in your business for another car you will use in your business, your basis for depreciation of the new car is not the same as your basis for figuring a gain or loss on its sale. Irs 1040x   For information on figuring your basis for depreciation, see Publication 463. Irs 1040x Property Transferred From a Spouse The basis of property transferred to you or transferred in trust for your benefit by your spouse (or former spouse if the transfer is incident to divorce), is the same as your spouse's adjusted basis. Irs 1040x However, adjust your basis for any gain recognized by your spouse or former spouse on property transferred in trust. Irs 1040x This rule applies only to a transfer of property in trust in which the liabilities assumed, plus the liabilities to which the property is subject, are more than the adjusted basis of the property transferred. Irs 1040x If the property transferred to you is a series E, series EE, or series I United States savings bond, the transferor must include in income the interest accrued to the date of transfer. Irs 1040x Your basis in the bond immediately after the transfer is equal to the transferor's basis increased by the interest income includible in the transferor's income. Irs 1040x For more information on these bonds, see Publication 550. Irs 1040x At the time of the transfer, the transferor must give you the records necessary to determine the adjusted basis and holding period of the property as of the date of transfer. Irs 1040x For more information, see Publication 504, Divorced or Separated Individuals. Irs 1040x Property Received as a Gift To figure the basis of property you receive as a gift, you must know its adjusted basis (defined earlier) to the donor just before it was given to you, its FMV at the time it was given to you, and any gift tax paid on it. Irs 1040x FMV Less Than Donor's Adjusted Basis If the FMV of the property at the time of the gift is less than the donor's adjusted basis, your basis depends on whether you have a gain or a loss when you dispose of the property. Irs 1040x Your basis for figuring gain is the same as the donor's adjusted basis plus or minus any required adjustment to basis while you held the property. Irs 1040x Your basis for figuring loss is its FMV when you received the gift plus or minus any required adjustment to basis while you held the property (see Adjusted Basis earlier). Irs 1040x If you use the donor's adjusted basis for figuring a gain and get a loss, and then use the FMV for figuring a loss and have a gain, you have neither gain nor loss on the sale or disposition of the property. Irs 1040x Example. Irs 1040x You received an acre of land as a gift. Irs 1040x At the time of the gift, the land had an FMV of $8,000. Irs 1040x The donor's adjusted basis was $10,000. Irs 1040x After you received the land, no events occurred to increase or decrease your basis. Irs 1040x If you sell the land for $12,000, you will have a $2,000 gain because you must use the donor's adjusted basis ($10,000) at the time of the gift as your basis to figure gain. Irs 1040x If you sell the land for $7,000, you will have a $1,000 loss because you must use the FMV ($8,000) at the time of the gift as your basis to figure a loss. Irs 1040x If the sales price is between $8,000 and $10,000, you have neither gain nor loss. Irs 1040x For instance, if the sales price was $9,000 and you tried to figure a gain using the donor's adjusted basis ($10,000), you would get a $1,000 loss. Irs 1040x If you then tried to figure a loss using the FMV ($8,000), you would get a $1,000 gain. Irs 1040x Business property. Irs 1040x   If you hold the gift as business property, your basis for figuring any depreciation, depletion, or amortization deduction is the same as the donor's adjusted basis plus or minus any required adjustments to basis while you hold the property. Irs 1040x FMV Equal to or More Than Donor's Adjusted Basis If the FMV of the property is equal to or greater than the donor's adjusted basis, your basis is the donor's adjusted basis at the time you received the gift. Irs 1040x Increase your basis by all or part of any gift tax paid, depending on the date of the gift. Irs 1040x Also, for figuring gain or loss from a sale or other disposition of the property, or for figuring depreciation, depletion, or amortization deductions on business property, you must increase or decrease your basis by any required adjustments to basis while you held the property. Irs 1040x See Adjusted Basis earlier. Irs 1040x Gift received before 1977. Irs 1040x   If you received a gift before 1977, increase your basis in the gift (the donor's adjusted basis) by any gift tax paid on it. Irs 1040x However, do not increase your basis above the FMV of the gift at the time it was given to you. Irs 1040x Example 1. Irs 1040x You were given a house in 1976 with an FMV of $21,000. Irs 1040x The donor's adjusted basis was $20,000. Irs 1040x The donor paid a gift tax of $500. Irs 1040x Your basis is $20,500, the donor's adjusted basis plus the gift tax paid. Irs 1040x Example 2. Irs 1040x If, in Example 1, the gift tax paid had been $1,500, your basis would be $21,000. Irs 1040x This is the donor's adjusted basis plus the gift tax paid, limited to the FMV of the house at the time you received the gift. Irs 1040x Gift received after 1976. Irs 1040x   If you received a gift after 1976, increase your basis in the gift (the donor's adjusted basis) by the part of the gift tax paid on it that is due to the net increase in value of the gift. Irs 1040x Figure the increase by multiplying the gift tax paid by a fraction. Irs 1040x The numerator of the fraction is the net increase in value of the gift and the denominator is the amount of the gift. Irs 1040x   The net increase in value of the gift is the FMV of the gift less the donor's adjusted basis. Irs 1040x The amount of the gift is its value for gift tax purposes after reduction by any annual exclusion and marital or charitable deduction that applies to the gift. Irs 1040x For information on the gift tax, see Publication 950, Introduction to Estate and Gift Taxes. Irs 1040x Example. Irs 1040x In 2010, you received a gift of property from your mother that had an FMV of $50,000. Irs 1040x Her adjusted basis was $20,000. Irs 1040x The amount of the gift for gift tax purposes was $37,000 ($50,000 minus the $13,000 annual exclusion). Irs 1040x She paid a gift tax of $9,000. Irs 1040x Your basis, $27,290, is figured as follows: Fair market value $50,000 Minus: Adjusted basis 20,000 Net increase in value $30,000 Gift tax paid $9,000 Multiplied by ($30,000 ÷ $37,000) . Irs 1040x 81 Gift tax due to net increase in value $7,290 Adjusted basis of property to your mother 20,000 Your basis in the property $27,290 Inherited Property Special rules apply to property acquired from a decedent who died in 2010. Irs 1040x See Publication 4895, Tax Treatment of Property Acquired From a Decedent Dying in 2010, for details. Irs 1040x If you inherited property from a decedent who died before 2010, your basis in property you inherit from a decedent is generally one of the following. Irs 1040x The FMV of the property at the date of the individual's death. Irs 1040x The FMV on the alternate valuation date if the personal representative for the estate chooses to use alternate valuation. Irs 1040x For information on the alternate valuation date, see the Instructions for Form 706. Irs 1040x The value under the special-use valuation method for real property used in farming or a closely held business if chosen for estate tax purposes. Irs 1040x This method is discussed later. Irs 1040x The decedent's adjusted basis in land to the extent of the value excluded from the decedent's taxable estate as a qualified conservation easement. Irs 1040x For information on a qualified conservation easement, see the Instructions for Form 706. Irs 1040x If a federal estate tax return does not have to be filed, your basis in the inherited property is its appraised value at the date of death for state inheritance or transmission taxes. Irs 1040x For more information, see the Instructions for Form 706. Irs 1040x Appreciated property. Irs 1040x   The above rule does not apply to appreciated property you receive from a decedent if you or your spouse originally gave the property to the decedent within 1 year before the decedent's death. Irs 1040x Your basis in this property is the same as the decedent's adjusted basis in the property immediately before his or her death, rather than its FMV. Irs 1040x Appreciated property is any property whose FMV on the day it was given to the decedent is more than its adjusted basis. Irs 1040x Community Property In community property states (Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin), husband and wife are each usually considered to own half the community property. Irs 1040x When either spouse dies, the total value of the community property, even the part belonging to the surviving spouse, generally becomes the basis of the entire property. Irs 1040x For this rule to apply, at least half the value of the community property interest must be includable in the decedent's gross estate, whether or not the estate must file a return. Irs 1040x For example, you and your spouse owned community property that had a basis of $80,000. Irs 1040x When your spouse died, half the FMV of the community interest was includible in your spouse's estate. Irs 1040x The FMV of the community interest was $100,000. Irs 1040x The basis of your half of the property after the death of your spouse is $50,000 (half of the $100,000 FMV). Irs 1040x The basis of the other half to your spouse's heirs is also $50,000. Irs 1040x For more information on community property, see Publication 555, Community Property. Irs 1040x Property Held by Surviving Tenant The following example explains the rule for the basis of property held by a surviving tenant in joint tenancy or tenancy by the entirety. Irs 1040x Example. Irs 1040x John and Jim owned, as joint tenants with right of survivorship, business property they purchased for $30,000. Irs 1040x John furnished two-thirds of the purchase price and Jim furnished one-third. Irs 1040x Depreciation deductions allowed before John's death were $12,000. Irs 1040x Under local law, each had a half interest in the income from the property. Irs 1040x At the date of John's death, the property had an FMV of $60,000, two-thirds of which is includable in John's estate. Irs 1040x Jim figures his basis in the property at the date of John's death as follows: Interest Jim bought with his own funds—1/3 of $30,000 cost $10,000   Interest Jim received on John's death—2/3 of $60,000 FMV 40,000 $50,000 Minus: ½ of $12,000 depreciation before John's death 6,000 Jim's basis at the date of John's death $44,000 If Jim had not contributed any part of the purchase price, his basis at the date of John's death would be $54,000. Irs 1040x This is figured by subtracting from the $60,000 FMV, the $6,000 depreciation allocated to Jim's half interest before the date of death. Irs 1040x If under local law Jim had no interest in the income from the property and he contributed no part of the purchase price, his basis at John's death would be $60,000, the FMV of the property. Irs 1040x Qualified Joint Interest Include one-half of the value of a qualified joint interest in the decedent's gross estate. Irs 1040x It does not matter how much each spouse contributed to the purchase price. Irs 1040x Also, it does not matter which spouse dies first. Irs 1040x A qualified joint interest is any interest in property held by husband and wife as either of the following. Irs 1040x Tenants by the entirety, or Joint tenants with right of survivorship if husband and wife are the only joint tenants. Irs 1040x Basis. Irs 1040x   As the surviving spouse, your basis in property you owned with your spouse as a qualified joint interest is the cost of your half of the property with certain adjustments. Irs 1040x Decrease the cost by any deductions allowed to you for depreciation and depletion. Irs 1040x Increase the reduced cost by your basis in the half you inherited. Irs 1040x Farm or Closely Held Business Under certain conditions, when a person dies the executor or personal representative of that person's estate can choose to value the qualified real property on other than its FMV. Irs 1040x If so, the executor or personal representative values the qualified real property based on its use as a farm or its use in a closely held business. Irs 1040x If the executor or personal representative chooses this method of valuation for estate tax purposes, that value is the basis of the property for the heirs. Irs 1040x Qualified heirs should be able to get the necessary value from the executor or personal representative of the estate. Irs 1040x Special-use valuation. Irs 1040x   If you are a qualified heir who received special-use valuation property, your basis in the property is the estate's or trust's basis in that property immediately before the distribution. Irs 1040x Increase your basis by any gain recognized by the estate or trust because of post-death appreciation. Irs 1040x Post-death appreciation is the property's FMV on the date of distribution minus the property's FMV either on the date of the individual's death or the alternate valuation date. Irs 1040x Figure all FMVs without regard to the special-use valuation. Irs 1040x   You can elect to increase your basis in special-use valuation property if it becomes subject to the additional estate tax. Irs 1040x This tax is assessed if, within 10 years after the death of the decedent, you transfer the property to a person who is not a member of your family or the property stops being used as a farm or in a closely held business. Irs 1040x   To increase your basis in the property, you must make an irrevocable election and pay interest on the additional estate tax figured from the date 9 months after the decedent's death until the date of the payment of the additional estate tax. Irs 1040x If you meet these requirements, increase your basis in the property to its FMV on the date of the decedent's death or the alternate valuation date. Irs 1040x The increase in your basis is considered to have occurred immediately before the event that results in the additional estate tax. Irs 1040x   You make the election by filing with Form 706-A a statement that does all of the following. Irs 1040x Contains your name, address, and taxpayer identification number and those of the estate; Identifies the election as an election under section 1016(c) of the Internal Revenue Code; Specifies the property for which the election is made; and Provides any additional information required by the Instructions for Form 706-A. Irs 1040x   For more information, see the Instructions for Form 706 and the Instructions for Form 706-A. Irs 1040x Property Changed to Business or Rental Use If you hold property for personal use and then change it to business use or use it to produce rent, you must figure its basis for depreciation. Irs 1040x An example of changing property held for personal use to business use would be renting out your former main home. Irs 1040x Basis for depreciation. Irs 1040x   The basis for depreciation is the lesser of the following amounts. Irs 1040x The FMV of the property on the date of the change, or Your adjusted basis on the date of the change. Irs 1040x Example. Irs 1040x Several years ago you paid $160,000 to have your home built on a lot that cost $25,000. Irs 1040x You paid $20,000 for permanent improvements to the house and claimed a $2,000 casualty loss deduction for damage to the house before changing the property to rental use last year. Irs 1040x Because land is not depreciable, you include only the cost of the house when figuring the basis for depreciation. Irs 1040x Your adjusted basis in the house when you changed its use was $178,000 ($160,000 + $20,000 − $2,000). Irs 1040x On the same date, your property had an FMV of $180,000, of which $15,000 was for the land and $165,000 was for the house. Irs 1040x The basis for figuring depreciation on the house is its FMV on the date of change ($165,000) because it is less than your adjusted basis ($178,000). Irs 1040x Sale of property. Irs 1040x   If you later sell or dispose of property changed to business or rental use, the basis of the property you use will depend on whether you are figuring gain or loss. Irs 1040x Gain. Irs 1040x   The basis for figuring a gain is your adjusted basis when you sell the property. Irs 1040x Example. Irs 1040x Assume the same facts as in the previous example except that you sell the property at a gain after being allowed depreciation deductions of $37,500. Irs 1040x Your adjusted basis for figuring gain is $165,500 ($178,000 + $25,000 (land) − $37,500). Irs 1040x Loss. Irs 1040x   Figure the basis for a loss starting with the smaller of your adjusted basis or the FMV of the property at the time of the change to business or rental use. Irs 1040x Then adjust this amount for the period after the change in the property's use, as discussed earlier under Adjusted Basis, to arrive at a basis for loss. Irs 1040x Example. Irs 1040x Assume the same facts as in the previous example, except that you sell the property at a loss after being allowed depreciation deductions of $37,500. Irs 1040x In this case, you would start with the FMV on the date of the change to rental use ($180,000) because it is less than the adjusted basis of $203,000 ($178,000 + $25,000) on that date. Irs 1040x Reduce that amount ($180,000) by the depreciation deductions to arrive at a basis for loss of $142,500 ($180,000 − $37,500). Irs 1040x How To Get Tax Help You can get help with unresolved tax issues, order free publications and forms, ask tax questions, and get more information from the IRS in several ways. Irs 1040x By selecting the method that is best for you, you will have quick and easy access to tax help. Irs 1040x Contacting your Taxpayer Advocate. Irs 1040x   The Taxpayer Advocate Service (TAS) is an independent organization within the IRS. Irs 1040x We help taxpayers who are experiencing economic harm, such as not being able to provide necessities like housing, transportation, or food; taxpayers who are seeking help in resolving tax problems with the IRS; and those who believe that an IRS system or procedure is not working as it should. Irs 1040x Here are seven things every taxpayer should know about TAS. Irs 1040x TAS is your voice at the IRS. Irs 1040x Our service is free, confidential, and tailored to meet your needs. Irs 1040x You may be eligible for our help if you have tried to resolve your tax problem through normal IRS channels and have gotten nowhere, or you believe an IRS procedure just isn't working as it should. Irs 1040x We help taxpayers whose problems are causing financial difficulty or significant cost, including the cost of professional representation. Irs 1040x This includes businesses as well as individuals. Irs 1040x Our employees know the IRS and how to navigate it. Irs 1040x If you qualify for our help, we'll assign your case to an advocate who will listen to your problem, help you understand what needs to be done to resolve it, and stay with you every step of the way until your problem is resolved. Irs 1040x We have at least one local taxpayer advocate in every state, the District of Columbia, and Puerto Rico. Irs 1040x You can call your local advocate, whose number is in your phone book, in Publication 1546, Taxpayer Advocate Service—Your Voice at the IRS, and on our website at www. Irs 1040x irs. Irs 1040x gov/advocate. Irs 1040x You can also call our toll-free line at 1-877-777-4778 or TTY/TDD 1-800-829-4059. Irs 1040x You can learn about your rights and responsibilities as a taxpayer by visiting our online tax toolkit at www. Irs 1040x taxtoolkit. Irs 1040x irs. Irs 1040x gov. Irs 1040x You can get updates on hot tax topics by visiting our YouTube channel at www. Irs 1040x youtube. Irs 1040x com/tasnta and our Facebook page at www. Irs 1040x facebook. Irs 1040x com/YourVoiceAtIRS, or by following our tweets at www. Irs 1040x twitter. Irs 1040x com/YourVoiceAtIRS. Irs 1040x Low Income Taxpayer Clinics (LITCs). Irs 1040x   The Low Income Taxpayer Clinic program serves individuals who have a problem with the IRS and whose income is below a certain level. Irs 1040x LITCs are independent from the IRS. Irs 1040x Most LITCs can provide representation before the IRS or in court on audits, tax collection disputes, and other issues for free or a small fee. Irs 1040x If an individual's native language is not English, some clinics can provide multilingual information about taxpayer rights and responsibilities. Irs 1040x For more information, see Publication 4134, Low Income Taxpayer Clinic List. Irs 1040x This publication is available at IRS. Irs 1040x gov, by calling 1-800-TAX-FORM (1-800-829-3676), or at your local IRS office. Irs 1040x Free tax services. Irs 1040x   Publication 910, IRS Guide to Free Tax Services, is your guide to IRS services and resources. Irs 1040x Learn about free tax information from the IRS, including publications, services, and education and assistance programs. Irs 1040x The publication also has an index of over 100 TeleTax topics (recorded tax information) you can listen to on the telephone. Irs 1040x The majority of the information and services listed in this publication are available to you free of charge. Irs 1040x If there is a fee associated with a resource or service, it is listed in the publication. Irs 1040x   Accessible versions of IRS published products are available on request in a variety of alternative formats for people with d
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Use This Checklist to Plan Your Purchase:

  • Decide in advance exactly what you want and what you can afford.
  • Do your research. Ask family, friends and others you trust for advice based on their experience. Gather information about the seller and the item or service you are purchasing.
  • Review product test results and other information from consumer experts.
  • Get advice and price quotes from several sellers.
  • Make sure that the seller has all appropriate licenses. Doctors, lawyers, contractors and other service providers must register with a state or local licensing agency.
  • Check out a company's complaint record with your local consumer affairs office and Better Business Bureau.
  • Get a written copy of guarantees and warranties. Compare their features.
  • Get the seller's refund, return and cancellation policies.
  • Sometimes retailers do not update cash register scanners with updated prices. If you think the price displayed isn't right, speak up.
  • Ask whom to contact if you have a question or problem.
  • Read and understand any contract or legal document you are asked to sign. Make sure there are no blank spaces. Insist that any extras you are promised be put in writing.
  • Consider paying by credit card. If you have a problem, you can dispute a charge made on your credit card.
  • Don't buy on impulse or under pressure. This includes donating to charity.

The Irs 1040x

Irs 1040x Index A Abandonment of home, Abandonment. Irs 1040x Absence, temporary, Temporary absence. Irs 1040x Abstract fees, Settlement fees or closing costs. Irs 1040x Address, change of, Reminders Adjusted basis, Adjusted Basis, Adjusted Basis Definition of, Determining Basis Worksheet 1 to figure, Determining Basis, Worksheet 1. Irs 1040x Adjusted Basis of Home Sold—Illustrated Example 1 for Peter and Betty Clark, Worksheet 1. Irs 1040x Adjusted Basis of Home Sold—Illustrated Example 3 for Emily White, Worksheet 1 Instructions. Irs 1040x Adjusted Basis of Home Sold Adoption Adjusted basis of home for credit claimed, Decreases to Basis Advertising fees, Selling expenses. Irs 1040x Amount realized, Amount Realized Appraisal fees, Settlement fees or closing costs. Irs 1040x Architect's fees, Construction. Irs 1040x Armed forces Ownership and use tests, Members of the uniformed services or Foreign Service, employees of the intelligence community, or employees or volunteers of the Peace Corps. Irs 1040x Assistance (see Tax help) B Back interest, Settlement fees or closing costs. Irs 1040x Basis Adjusted basis (see Adjusted basis) Determination of, Determining Basis, Adjusted Basis Other than cost, Basis Other Than Cost Building permit fees, Construction. Irs 1040x Business use of home, Business Use or Rental of Home, Use test met for business part (with no business use in year of sale). Irs 1040x C Casualties Amounts spent after to restore damaged property, Increases to Basis Deductible casualty losses, Decreases to Basis Disaster as cause of, Specific event safe harbors. Irs 1040x Insurance payments for casualty losses, Decreases to Basis Change of address, Reminders Closing costs, Settlement fees or closing costs. Irs 1040x Commissions, Selling expenses. Irs 1040x , Settlement fees or closing costs. Irs 1040x Community property Basis determination, Community property. Irs 1040x Condemnation Gain exclusion, Home destroyed or condemned. Irs 1040x Ownership and use test when previous home condemned, Previous home destroyed or condemned. Irs 1040x Condominiums As main home, Main Home Basis determination, Condominium. Irs 1040x Construction costs, Construction. Irs 1040x Built by you, Built by you. Irs 1040x Cooperative apartments As main home, Main Home Basis determination, Cooperative apartment. Irs 1040x Ownership and use tests, Cooperative apartment. Irs 1040x Cost as basis, Cost As Basis Credit reports Cost of obtaining, Settlement fees or closing costs. Irs 1040x D Date of sale, Date of sale. Irs 1040x Death Sale due to, Specific event safe harbors. Irs 1040x Spouse's death before sale, ownership and use tests, Sale of main home by surviving spouse. Irs 1040x Decreases to basis, Decreases to Basis Depreciation After May 6, 1997, Depreciation after May 6, 1997. Irs 1040x Home used for business or rental purposes, Decreases to Basis Destroyed homes Gain exclusion, Home destroyed or condemned. Irs 1040x Ownership and use test when previous home destroyed, Previous home destroyed or condemned. Irs 1040x Disabilities, individuals with Ownership and use test, Exception for individuals with a disability. Irs 1040x Disasters, Specific event safe harbors. Irs 1040x Discharge of qualified principal residence indebtedness, Adjusted Basis Divorce Home received from spouse, Home received from spouse. Irs 1040x Home transferred to spouse, Transfer to spouse. Irs 1040x Ownership and use tests, Home transferred from spouse. Irs 1040x Sale due to, Specific event safe harbors. Irs 1040x Transfers after July 18, 1984, Transfers after July 18, 1984. Irs 1040x Transfers before July 19, 1984, Transfers before July 19, 1984. Irs 1040x Use of home after divorce, Use of home after divorce. Irs 1040x Doctor's recommendation for sale, Doctor's recommendation safe harbor. Irs 1040x E Easements, Decreases to Basis Employee of the intelligence community, Employee of the intelligence community. Irs 1040x Employment Change in place of employment, Change in Place of Employment Payment by employer, when job transfer involved, Payment by employer. Irs 1040x Energy Conservation subsidies, Decreases to Basis Credit, Decreases to Basis Exclusion of gain, Excluding the Gain, Nonqualified Use Reduced maximum exclusion, Reduced Maximum Exclusion Expatriates, Expatriates. Irs 1040x F Federal mortgage subsidies Recapture of, Recapturing (Paying Back) a Federal Mortgage Subsidy Figuring gain or loss, Figuring Gain or Loss, More information. Irs 1040x Fire insurance premiums, Settlement fees or closing costs. Irs 1040x Foreclosure, Foreclosure or repossession. Irs 1040x Foreign Service, Foreign Service member. Irs 1040x Ownership and use tests, Members of the uniformed services or Foreign Service, employees of the intelligence community, or employees or volunteers of the Peace Corps. Irs 1040x Form 1040 Reporting sale of home, Reporting the Sale Seller-financed mortgages, Seller-financed mortgage. Irs 1040x Form 1040, Schedule A Real estate taxes, Real estate taxes. Irs 1040x Form 1040, Schedule D Reporting sale of home, Reporting the Sale Form 1099-S Proceeds from real estate transactions, Date of sale. Irs 1040x , Form 1099-S. Irs 1040x , Form 1099-S. Irs 1040x Form 2119 Sale of home, Adjusted Basis Form 6252 Installment sale income, Installment sale. Irs 1040x Form 8828 Recapture tax, How to figure and report the recapture. Irs 1040x Form 8960 Net Investment Income Tax, Net Investment Income Tax (NIIT). Irs 1040x NIIT, Net Investment Income Tax (NIIT). Irs 1040x Form 982 Discharge of indebtedness, Adjusted Basis Free tax services, Free help with your tax return. Irs 1040x Future developments, Future Developments G Gain or loss Basis determination, Determining Basis, Adjusted Basis Exclusion of gain, Excluding the Gain Exclusion of gain, nonqualified use, Nonqualified Use Gain on sale, Gain on sale. Irs 1040x Loss on sale, Loss on sale. Irs 1040x Postponed from sale of previous home before May 7, 1997, Decreases to Basis Worksheet 2 to figure, Worksheet 2. Irs 1040x Taxable Gain on Sale of Home—Completed Example 1 for Amy, Worksheet 1. Irs 1040x Adjusted Basis of Home Sold—Illustrated Example 1 for Peter and Betty Clark, Worksheet 2. Irs 1040x Taxable Gain on Sale of Home—Illustrated Example 2 for Peter and Betty Clark, Worksheet 2. Irs 1040x Taxable Gain on Sale of Home—Illustrated Example 3 for Emily White, Worksheet 2. Irs 1040x Taxable Gain on Sale of Home Gifts Home received as, Home received as gift. Irs 1040x H Health Sale of home due to, Health Help (see Tax help) Homebuyer credit Recapture, Recapture of the post-2008 first-time homebuyer credit. Irs 1040x Houseboats As main home, Main Home I Important reminders Change of address, Reminders Home sold with undeducted points, Reminders Improvements Adjusted basis determination, Improvements. Irs 1040x Charges for, Settlement fees or closing costs. Irs 1040x Receipts and other records, Adjusted Basis Useful life of more than 1 year, Increases to Basis Increases to basis, Increases to Basis Individual taxpayer identification numbers (ITINs), Individual taxpayer identification number (ITIN). Irs 1040x Inheritance Home received as, Home acquired from a decedent who died before or after 2010. Irs 1040x Installment sales, Installment sale. Irs 1040x Involuntary conversion, Specific event safe harbors. Irs 1040x ITINs (Individual taxpayer identification numbers), Individual taxpayer identification number (ITIN). Irs 1040x J Joint owners not married, Joint owners not married. Irs 1040x Joint returns, Jointly owned home. Irs 1040x Ownership and use tests, Married Persons L Land Sale of land on which home located, Land. Irs 1040x Sale of vacant land, Vacant land. Irs 1040x Legal fees, Selling expenses. Irs 1040x , Settlement fees or closing costs. Irs 1040x , Construction. Irs 1040x Legal separation Sale due to, Specific event safe harbors. Irs 1040x Like-kind exchange, Sale of home acquired in a like-kind exchange. Irs 1040x Living expenses, Reasonable basic living expenses. Irs 1040x Loan assumption fees, Settlement fees or closing costs. Irs 1040x Loan placement fees, Selling expenses. Irs 1040x Loss (see Gain or loss) M Main home Defined, Main Home Factors used to determine, Factors used to determine main home. Irs 1040x Property used partly as, Property used partly as your main home. Irs 1040x , Property Used Partly for Business or Rental Married taxpayers (see Joint returns) Maximum exclusion, Maximum Exclusion Reduced, Reduced Maximum Exclusion Military (see Armed forces) Missing children, photographs of, Reminders Mobile homes As main home, Main Home More than one home, More than one home. Irs 1040x Mortgage fees, Settlement fees or closing costs. Irs 1040x Mortgage insurance premiums, Settlement fees or closing costs. Irs 1040x Mortgage subsidies Recapturing (paying back) federal mortgage subsidy, Recapturing (Paying Back) a Federal Mortgage Subsidy Mortgages, seller-financed, Seller-financed mortgage. Irs 1040x Moving expense, Settlement fees or closing costs. Irs 1040x Multiple births Sale due to, Specific event safe harbors. Irs 1040x N Nonqualified use, Nonqualified Use Nonresident aliens Spouse as, transfer of home to, Exception. Irs 1040x O Option to buy home, Option to buy. Irs 1040x Ownership and use tests, Ownership and Use Tests, Ownership and use tests met at different times. Irs 1040x P Partly used for business, Property Used Partly for Business or Rental Personal property Selling price of home not to include, Personal property. Irs 1040x Points, Selling expenses. Irs 1040x Home sold with undeducted points, Reminders Seller-paid, Seller-paid points. Irs 1040x Publications (see Tax help) R Real estate taxes, Settlement fees or closing costs. Irs 1040x , Real estate taxes. Irs 1040x Deducting in year of sale, Deducting Taxes in the Year of Sale Recapture of federal mortgage subsidy, Recapturing (Paying Back) a Federal Mortgage Subsidy Recapture of first-time homebuyer credit, Recapture of First-Time Homebuyer Credit Recording fees, Settlement fees or closing costs. Irs 1040x Recordkeeping, Adjusted Basis Reduced maximum exclusion, Reduced Maximum Exclusion Worksheet 3, Worksheet 3. Irs 1040x Reduced Maximum Exclusion Refinancing, Settlement fees or closing costs. Irs 1040x Relatives Sale of home to, Exception for sales to related persons. Irs 1040x Remainder interest Sale of, Sale of remainder interest. Irs 1040x Remodeling, Improvements. Irs 1040x , Exception. Irs 1040x (see also Improvements) Rental of home, Business Use or Rental of Home, Use test met for business part (with no business use in year of sale). Irs 1040x Before closing, by buyer, Settlement fees or closing costs. Irs 1040x Partial use, Property Used Partly for Business or Rental Repairs, Settlement fees or closing costs. Irs 1040x , Improvements. Irs 1040x , Repairs. Irs 1040x (see also Improvements) Reporting the sale, Reporting the Sale, Worksheet 2. Irs 1040x Taxable Gain on Sale of Home—Illustrated Example 3 for Emily White Repossession, Foreclosure or repossession. Irs 1040x Right-of-ways, Decreases to Basis S Safe harbors Distance safe harbor, Distance safe harbor. Irs 1040x Doctor's recommendation for sale, Doctor's recommendation safe harbor. Irs 1040x Unforeseeable events, Specific event safe harbors. Irs 1040x Sales commissions, Selling expenses. Irs 1040x , Settlement fees or closing costs. Irs 1040x Sales to related persons, Exception for sales to related persons. Irs 1040x Self-employed persons Change in status causing inability to pay basic expenses, Specific event safe harbors. Irs 1040x Seller-financed mortgages, Seller-financed mortgage. Irs 1040x Seller-paid points, Seller-paid points. Irs 1040x Selling expenses, Selling expenses. Irs 1040x Selling price, Selling Price Separate returns, Separate returns. Irs 1040x Settlement fees, Settlement fees or closing costs. Irs 1040x Spouse Death of (see Surviving spouse) Divorce, transfers subsequent to (see Divorce) Survey fees, Settlement fees or closing costs. Irs 1040x Surviving spouse Basis determination, Surviving spouse. Irs 1040x Ownership and use tests, Sale of main home by surviving spouse. Irs 1040x T Tax help, How To Get Tax Help Temporary absence, Temporary absence. Irs 1040x Temporary housing, Temporary housing. Irs 1040x Title insurance, Settlement fees or closing costs. Irs 1040x Title search fees, Settlement fees or closing costs. Irs 1040x Trading homes, Trading (exchanging) homes. Irs 1040x , Home received as trade. Irs 1040x Transfer taxes, Settlement fees or closing costs. Irs 1040x , Transfer taxes. Irs 1040x Transfer to spouse, Transfer to spouse. Irs 1040x After July 18, 1984, Transfers after July 18, 1984. Irs 1040x Before July 19, 1984, Transfers before July 19, 1984. Irs 1040x TTY/TDD information, How To Get Tax Help U Unemployment, Specific event safe harbors. Irs 1040x Unforeseen circumstances, Unforeseen Circumstances Uniformed services (see Armed forces) Use tests, Ownership and Use Tests, Ownership and use tests met at different times. Irs 1040x Utilities Charges for installing, Settlement fees or closing costs. Irs 1040x Charges related to occupancy of house before closing, Settlement fees or closing costs. Irs 1040x Energy conservation subsidy, Decreases to Basis Meter and connection charges for construction, Construction. Irs 1040x V Vacant land Sale of, Vacant land. Irs 1040x W Worksheets, Worksheets. Irs 1040x Adjusted basis (Worksheet 1), Determining Basis, Worksheet 1. Irs 1040x Adjusted Basis of Home Sold—Illustrated Example 1 for Peter and Betty Clark, Worksheet 1. Irs 1040x Adjusted Basis of Home Sold—Illustrated Example 3 for Emily White, Worksheet 1 Instructions. Irs 1040x Adjusted Basis of Home Sold Gain (or loss), exclusion, and taxable gain (Worksheet 2), Worksheet 2. Irs 1040x Taxable Gain on Sale of Home—Completed Example 1 for Amy, Worksheet 1. Irs 1040x Adjusted Basis of Home Sold—Illustrated Example 1 for Peter and Betty Clark, Worksheet 2. Irs 1040x Taxable Gain on Sale of Home—Illustrated Example 2 for Peter and Betty Clark, Worksheet 2. Irs 1040x Taxable Gain on Sale of Home—Illustrated Example 3 for Emily White, Worksheet 2. Irs 1040x Taxable Gain on Sale of Home Recordkeeping and, Adjusted Basis Reduced maximum exclusion (Worksheet 3), Worksheet 3. Irs 1040x Reduced Maximum Exclusion Prev  Up     Home   More Online Publications