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Irs Income Tax Forms 2010

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Irs Income Tax Forms 2010

Irs income tax forms 2010 3. Irs income tax forms 2010   Filing Information for Individuals in Certain U. Irs income tax forms 2010 S. Irs income tax forms 2010 Possessions Table of Contents American SamoaWhere To Get Forms and Information Which Returns To File Special Rules for American Samoa Double Taxation The Commonwealth of Puerto RicoWhere To Get Forms and Information Which Returns To File Special Rules for Puerto Rico Double Taxation The Commonwealth of the Northern Mariana IslandsWhere To Get Forms and Information Which Return To File Special Rules for the CNMI Double Taxation GuamWhere To Get Forms and Information Which Return To File Special Rules for Guam Double Taxation The U. Irs income tax forms 2010 S. Irs income tax forms 2010 Virgin IslandsWhere To Get Forms and Information Which Return To File Special Rules for the USVI Double Taxation If you have income from American Samoa, the CNMI, Guam, Puerto Rico, or the USVI, you may have to file a tax return with the tax department of that possession. Irs income tax forms 2010 Or, you may have to file two annual tax returns, one with the possession's tax department and the other with the U. Irs income tax forms 2010 S. Irs income tax forms 2010 Internal Revenue Service. Irs income tax forms 2010 This chapter covers the general rules for filing returns in the five possessions. Irs income tax forms 2010 You must first determine if you are a bona fide resident of the relevant possession. Irs income tax forms 2010 See chapter 1 for a discussion of the requirements you must meet. Irs income tax forms 2010 You should ask for forms and advice about the filing of possession tax returns from that possession's tax department, not the Internal Revenue Service. Irs income tax forms 2010 Contact information is listed in this chapter under the heading for each possession. Irs income tax forms 2010 American Samoa American Samoa has its own separate and independent tax system. Irs income tax forms 2010 Although its tax laws are modeled on the U. Irs income tax forms 2010 S. Irs income tax forms 2010 Internal Revenue Code, there are certain differences. Irs income tax forms 2010 Where To Get Forms and Information Requests for advice about matters connected with Samoan taxation should be sent to: American Samoa Government Tax Office  Executive Office Building First Floor Pago Pago, AS 96799 The phone number is (684) 633-4181. Irs income tax forms 2010 The fax number is (684) 633-1513. Irs income tax forms 2010 You can get forms and publications at www. Irs income tax forms 2010 americansamoa. Irs income tax forms 2010 gov. Irs income tax forms 2010 The addresses and phone numbers listed above are subject to change. Irs income tax forms 2010 Which Returns To File Your residency status and your source of income with regard to American Samoa determine whether you file your return and pay your tax to American Samoa, to the United States, or to both. Irs income tax forms 2010 In addition to the information below that is categorized by residency status, the Special Rules for American Samoa section (later) contains important information for determining the correct forms to file. Irs income tax forms 2010 Bona Fide Resident of American Samoa Bona fide residents of American Samoa are generally exempt from U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax on their American Samoa source income. Irs income tax forms 2010 U. Irs income tax forms 2010 S. Irs income tax forms 2010 citizen or resident alien. Irs income tax forms 2010   If you are a U. Irs income tax forms 2010 S. Irs income tax forms 2010 citizen or resident alien and a bona fide resident of American Samoa during the entire tax year, you generally must file the following returns. Irs income tax forms 2010 An American Samoa tax return reporting your gross income from worldwide sources. Irs income tax forms 2010 If you report non-American Samoa source income on your American Samoa tax return, you can claim a credit against your American Samoa tax liability for income taxes paid on that income to the United States, a foreign country, or another possession. Irs income tax forms 2010 A U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax return reporting income from worldwide sources, but excluding income from sources within American Samoa. Irs income tax forms 2010 However, amounts received for services performed as an employee of the United States or any of its agencies cannot be excluded (see U. Irs income tax forms 2010 S. Irs income tax forms 2010 Government employees under Special Rules for American Samoa, later). Irs income tax forms 2010 To exclude American Samoa source income, attach a completed Form 4563 to your U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax return (see Form 4563 for more information). Irs income tax forms 2010 If you are excluding American Samoa source income on your U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax return, you will not be allowed any deductions from gross income or credits against tax that are directly or indirectly allocable to the exempt income. Irs income tax forms 2010 For more information, see Special Rules for Completing Your U. Irs income tax forms 2010 S. Irs income tax forms 2010 Tax Return in chapter 4. Irs income tax forms 2010 Nonresident alien. Irs income tax forms 2010   If you are a bona fide resident of American Samoa during the entire tax year, but a nonresident alien of the United States, you generally must file the following returns. Irs income tax forms 2010 An American Samoa tax return reporting worldwide income. Irs income tax forms 2010 A U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax return (Form 1040, U. Irs income tax forms 2010 S. Irs income tax forms 2010 Individual Income Tax Return) reporting income from worldwide sources, but excluding American Samoa source income other than amounts for services performed as an employee of the United States or any of its agencies. Irs income tax forms 2010 For more information, see U. Irs income tax forms 2010 S. Irs income tax forms 2010 Government employees under Special Rules for American Samoa, later. Irs income tax forms 2010 To exclude income from sources within American Samoa, attach a completed Form 4563 to your U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax return (see Form 4563 , below, for more information). Irs income tax forms 2010 For all other tax purposes, however, you will be treated as a nonresident alien individual. Irs income tax forms 2010 For example, you are not allowed the standard deduction, you cannot file a joint return, and you are not allowed a deduction for a dependent unless that person is a citizen or national of the United States. Irs income tax forms 2010 There are also limitations on what deductions and credits are allowed. Irs income tax forms 2010 See Publication 519 for more information. Irs income tax forms 2010 Form 4563. Irs income tax forms 2010   If you must file a U. Irs income tax forms 2010 S. Irs income tax forms 2010 income tax return and you qualify to exclude any of your income from American Samoa, claim the exclusion by completing Form 4563 and attaching it to your Form 1040. Irs income tax forms 2010 Form 4563 cannot be filed by itself. Irs income tax forms 2010 There is an example of a filled-in Form 4563 in chapter 5. Irs income tax forms 2010   If you are a bona fide resident of American Samoa during the entire tax year and you are not including a check or a money order, send your U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax return and all attachments (including Form 4563) to: Department of the Treasury Internal Revenue Service Austin, TX 73301-0215 USA   If you are including a check or a money order, send your U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax return and all attachments (including Form 4563) to: Internal Revenue Service P. Irs income tax forms 2010 O. Irs income tax forms 2010 Box 1303 Charlotte, NC 28201-1303 USA   Send your American Samoa tax return and all attachments to the address given under Where To Get Forms and Information , earlier. Irs income tax forms 2010 Self-employment tax. Irs income tax forms 2010   If you are not required to file a U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax return but have income that is effectively connected with a trade or business in American Samoa, you must file Form 1040-SS with the United States. Irs income tax forms 2010 On this form you will report your self-employment income to the United States and, if necessary, pay self-employment tax on that income. Irs income tax forms 2010 Additional Medicare Tax. Irs income tax forms 2010   Beginning in 2013, you may be required to pay Additional Medicare Tax. Irs income tax forms 2010 Also, you may need to report Additional Medicare Tax withheld by your employer. Irs income tax forms 2010 For more information see Additional Medicare Tax under Special Rules for Completing Your U. Irs income tax forms 2010 S. Irs income tax forms 2010 Tax Return in chapter 4. Irs income tax forms 2010 Net Investment Income Tax. Irs income tax forms 2010   Beginning in 2013, the Net Investment Income Tax (NIIT) is 3. Irs income tax forms 2010 8 percent of the lesser of an individual’s net investment income or the excess of the individual’s modified adjusted gross income over a specified threshold amount. Irs income tax forms 2010 The NIIT will apply to a bona fide resident of American Samoa if a taxpayer has modified adjusted gross income from sources outside of American Samoa that exceeds a specified threshold amount, e. Irs income tax forms 2010 g. Irs income tax forms 2010 , $200,000 for single filers. Irs income tax forms 2010 The NIIT does not apply to any individual who is a nonresident alien with respect to the United States. Irs income tax forms 2010 See Form 8960, Net Investment Income Tax—Individuals, Estates, and Trusts, and its instructions for more information on the NIIT. Irs income tax forms 2010 Estimated tax payments. Irs income tax forms 2010   To see if you are required to make payments of estimated income tax, self-employment tax, Additional Medicare Tax, and/or Net Investment Income Tax to the IRS, get Form 1040-ES, Estimated Tax for Individuals. Irs income tax forms 2010   To pay by check or money order, send your payment with the Form 1040-ES payment voucher to: Internal Revenue Service P. Irs income tax forms 2010 O. Irs income tax forms 2010 Box 1300 Charlotte, NC 28201-1300 USA   To get information on paying electronically (by credit or debit card, or through the Electronic Federal Tax Payment System (EFTPS)), go to www. Irs income tax forms 2010 irs. Irs income tax forms 2010 gov/e-pay. Irs income tax forms 2010   For information on making estimated income tax payments to American Samoa, see Where To Get Forms and Information , earlier. Irs income tax forms 2010 Not a Bona Fide Resident of American Samoa An individual who is not a bona fide resident of American Samoa for the tax year generally files both U. Irs income tax forms 2010 S. Irs income tax forms 2010 and American Samoa tax returns, and claims a foreign tax credit on the U. Irs income tax forms 2010 S. Irs income tax forms 2010 return for taxes paid to American Samoa. Irs income tax forms 2010 U. Irs income tax forms 2010 S. Irs income tax forms 2010 citizen or resident alien. Irs income tax forms 2010   If you are a U. Irs income tax forms 2010 S. Irs income tax forms 2010 citizen or resident alien but not a bona fide resident of American Samoa during the entire tax year, you generally must file the following returns. Irs income tax forms 2010 An American Samoa tax return reporting only your income from sources within American Samoa. Irs income tax forms 2010 Wages for services performed in American Samoa, whether for a private employer, the U. Irs income tax forms 2010 S. Irs income tax forms 2010 Government, or otherwise, is income from sources within American Samoa. Irs income tax forms 2010 A U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax return reporting your income from worldwide sources. Irs income tax forms 2010 You can take a credit against your U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax liability if you paid income taxes to American Samoa (or other possession or foreign country) and reported income from those sources on your U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax return. Irs income tax forms 2010 De minimis exception to determining source of income. Irs income tax forms 2010   In certain situations you will not have income from a possession. Irs income tax forms 2010 See De minimis exception under Compensation for Labor or Personal Services in chapter 2. Irs income tax forms 2010 Nonresident alien. Irs income tax forms 2010   If you are a nonresident alien of the United States who does not qualify as a bona fide resident of American Samoa for the entire tax year, you generally must file the following returns. Irs income tax forms 2010 An American Samoa tax return reporting only your income from sources within American Samoa. Irs income tax forms 2010 In this situation, wages for services performed in American Samoa, whether for a private employer, the U. Irs income tax forms 2010 S. Irs income tax forms 2010 Government, or otherwise, is income from sources within American Samoa. Irs income tax forms 2010 A U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax return (Form 1040NR, U. Irs income tax forms 2010 S. Irs income tax forms 2010 Nonresident Alien Income Tax Return) reporting U. Irs income tax forms 2010 S. Irs income tax forms 2010 source income according to the rules for a nonresident alien. Irs income tax forms 2010 See the Instructions for Form 1040NR. Irs income tax forms 2010   If you are not a bona fide resident of American Samoa during the entire tax year, and you are not including a check or a money order, send your U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax return and all attachments to: Department of the Treasury Internal Revenue Service Austin, TX 73301-0215 USA   If you are including a check or a money order, send your U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax return and all attachments to: Internal Revenue Service P. Irs income tax forms 2010 O. Irs income tax forms 2010 Box 1303 Charlotte, NC 28201-1303 USA   Send your American Samoa tax return and all attachments to the address given under Where To Get Forms and Information , earlier. Irs income tax forms 2010 Special Rules for American Samoa Some special rules apply to certain types of income and employment connected with American Samoa. Irs income tax forms 2010 U. Irs income tax forms 2010 S. Irs income tax forms 2010 Armed Forces. Irs income tax forms 2010   Bona fide residents of American Samoa include military personnel whose official home of record is American Samoa. Irs income tax forms 2010 Civilian spouse of active duty member of the U. Irs income tax forms 2010 S. Irs income tax forms 2010 Armed Forces. Irs income tax forms 2010   If, under the rule discussed at the beginning of chapter 1 (see Special rule for civilian spouse of active duty member of the U. Irs income tax forms 2010 S. Irs income tax forms 2010 Armed Forces ), your tax residence is American Samoa, follow the guidance in the section for bona fide residents under Which Returns To File, earlier. Irs income tax forms 2010 However, if your tax residence is one of the 50 states or the District of Columbia and your only income from American Samoa is from wages, salaries, tips, or self-employment, you will be taxed on your worldwide income and file only a U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax return (Form 1040) and a state and/or local tax return, if required. Irs income tax forms 2010 If you have income from American Samoa other than wages, salaries, tips, or self-employment that is considered to be sourced in that possession (see Table 2-1), contact the local tax administration for guidance. Irs income tax forms 2010 U. Irs income tax forms 2010 S. Irs income tax forms 2010 Government employees. Irs income tax forms 2010   If you are employed in American Samoa by the U. Irs income tax forms 2010 S. Irs income tax forms 2010 Government or any of its agencies, you are subject to tax by American Samoa on your pay from the government. Irs income tax forms 2010 Whether you are subject to tax by American Samoa on your non-American Samoa source income depends on your status in American Samoa as a bona fide resident. Irs income tax forms 2010   Wages and salaries paid to employees of the U. Irs income tax forms 2010 S. Irs income tax forms 2010 Government and its agencies are also subject to U. Irs income tax forms 2010 S. Irs income tax forms 2010 federal income tax. Irs income tax forms 2010 These payments do not qualify for the exclusion of income from sources within American Samoa, discussed earlier. Irs income tax forms 2010   For tax years ending after April 9, 2008, wages and salaries paid to bona fide residents by the Government of American Samoa can be excluded on the U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax return. Irs income tax forms 2010   If you report government wages on both your U. Irs income tax forms 2010 S. Irs income tax forms 2010 and American Samoa tax returns, you can take a credit on your U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax return for income taxes paid or accrued to American Samoa. Irs income tax forms 2010 Figure the credit on Form 1116, and attach that form to your U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax return, Form 1040. Irs income tax forms 2010 Show your wages paid for services performed in American Samoa on Form 1116, line 1a, enter “American Samoa” on line g, and check box b above Part I. Irs income tax forms 2010 Moving expense deduction. Irs income tax forms 2010   Generally, expenses of a move to American Samoa are directly attributable to American Samoa wages, salaries, and other earned income. Irs income tax forms 2010 Likewise, the expenses of a move back to the United States are generally attributable to U. Irs income tax forms 2010 S. Irs income tax forms 2010 earned income. Irs income tax forms 2010   If your move was to American Samoa, report your deduction for moving expenses as follows. Irs income tax forms 2010 If you are a bona fide resident in the tax year of your move, enter your deductible expenses on your American Samoa tax return. Irs income tax forms 2010 If you are not a bona fide resident, enter your deductible expenses on both your American Samoa and U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax returns. Irs income tax forms 2010 Also, for purposes of a tax credit against your U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax liability, reduce your American Samoa “general category income” on Form 1116, line 1a, by entering the deductible moving expenses on line 2. Irs income tax forms 2010   If your move was to the United States, complete Form 3903, Moving Expenses, and enter the deductible amount on Form 1040, line 26. Irs income tax forms 2010 Double Taxation A mutual agreement procedure exists to settle cases of double taxation between the United States and American Samoa. Irs income tax forms 2010 See Double Taxation in chapter 4. Irs income tax forms 2010 The Commonwealth of Puerto Rico The Commonwealth of Puerto Rico has its own separate and independent tax system. Irs income tax forms 2010 Although it is modeled after the U. Irs income tax forms 2010 S. Irs income tax forms 2010 system, there are differences in law and tax rates. Irs income tax forms 2010 Where To Get Forms and Information Requests for information about the filing of Puerto Rico tax returns should be addressed to: Departamento de Hacienda Negociado de Asistencia Contributiva  P. Irs income tax forms 2010 O. Irs income tax forms 2010 Box 9024140 San Juan, Puerto Rico 00902-4140 The phone numbers are (787) 721-8051 and (787) 721-7198. Irs income tax forms 2010    To obtain Puerto Rico tax forms, contact the Forms and Publications Division Office at the above address or call (787) 722-0216, option #7. Irs income tax forms 2010 You can access the Hacienda website at www. Irs income tax forms 2010 hacienda. Irs income tax forms 2010 gobierno. Irs income tax forms 2010 pr or email your questions about Puerto Rico taxes to InfoServ@hacienda. Irs income tax forms 2010 gobierno. Irs income tax forms 2010 pr. Irs income tax forms 2010 The addresses and phone numbers listed above are subject to change. Irs income tax forms 2010 Which Returns To File Generally, you will file returns with both Puerto Rico and the United States. Irs income tax forms 2010 The income reported on each return depends on your residency status in Puerto Rico. Irs income tax forms 2010 To determine if you are a bona fide resident of Puerto Rico, see the information in chapter 1. Irs income tax forms 2010 Bona Fide Resident of Puerto Rico Bona fide residents of Puerto Rico will generally pay tax to Puerto Rico on their worldwide income. Irs income tax forms 2010 U. Irs income tax forms 2010 S. Irs income tax forms 2010 citizen or resident alien. Irs income tax forms 2010   If you are a U. Irs income tax forms 2010 S. Irs income tax forms 2010 citizen or resident alien and also a bona fide resident of Puerto Rico during the entire tax year, you generally must file the following returns. Irs income tax forms 2010 A Puerto Rico tax return reporting income from worldwide sources. Irs income tax forms 2010 If you report U. Irs income tax forms 2010 S. Irs income tax forms 2010 source income on your Puerto Rico tax return, you can claim a credit against your Puerto Rico tax, up to the amount allowable, for income taxes paid to the United States. Irs income tax forms 2010 A U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax return reporting income from worldwide sources, but excluding Puerto Rico source income. Irs income tax forms 2010 However, see U. Irs income tax forms 2010 S. Irs income tax forms 2010 Government employees under Special Rules for Puerto Rico, later, for an exception. Irs income tax forms 2010 If you are excluding Puerto Rico income on your U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax return, you will not be allowed any deductions or credits that are directly or indirectly allocable to exempt income. Irs income tax forms 2010 For more information, see Special Rules for Completing Your U. Irs income tax forms 2010 S. Irs income tax forms 2010 Tax Return in chapter 4. Irs income tax forms 2010 If all of your income is from Puerto Rico sources, you are not required to file a U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax return. Irs income tax forms 2010 However, if you have self-employment income, see Self-employment tax , later. Irs income tax forms 2010 U. Irs income tax forms 2010 S. Irs income tax forms 2010 citizen only. Irs income tax forms 2010   If you are a U. Irs income tax forms 2010 S. Irs income tax forms 2010 citizen, you may also qualify under these rules if you have been a bona fide resident of Puerto Rico for at least 2 years before moving from Puerto Rico. Irs income tax forms 2010 In this case, you can exclude your income derived from sources within Puerto Rico (but not wages and salaries received as an employee of the U. Irs income tax forms 2010 S. Irs income tax forms 2010 Government or its agencies) that you earned before the date you changed your residence. Irs income tax forms 2010 For more information, see Puerto Rico under Year of Moving From a Possession in chapter 1. Irs income tax forms 2010 Nonresident alien. Irs income tax forms 2010   If you are a bona fide resident of Puerto Rico during the entire tax year, but a nonresident alien of the United States, you generally must file the following returns. Irs income tax forms 2010 A Puerto Rico tax return reporting income from worldwide sources. Irs income tax forms 2010 If you report U. Irs income tax forms 2010 S. Irs income tax forms 2010 source income on your Puerto Rico tax return, you can claim a credit against your Puerto Rico tax, up to the amount allowable, for income taxes paid to the United States. Irs income tax forms 2010 A U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax return (Form 1040) reporting income from worldwide sources, but excluding Puerto Rico source income (other than amounts for services performed as an employee of the United States or any of its agencies). Irs income tax forms 2010 For tax purposes other than reporting income, however, you will be treated as a nonresident alien individual. Irs income tax forms 2010 For example, you are not allowed the standard deduction, you cannot file a joint return, and you are not allowed a deduction for a dependent unless that person is a citizen or national of the United States. Irs income tax forms 2010 There are also limitations on what deductions and credits are allowed. Irs income tax forms 2010 See Publication 519 for more information. Irs income tax forms 2010 Self-employment tax. Irs income tax forms 2010   If you have no U. Irs income tax forms 2010 S. Irs income tax forms 2010 filing requirement but have income that is effectively connected with a trade or business in Puerto Rico, you must file Form 1040-SS or Form 1040-PR with the United States to report your self-employment income and, if necessary, pay self-employment tax. Irs income tax forms 2010 Additional Medicare Tax. Irs income tax forms 2010   Beginning in 2013, you may be required to pay Additional Medicare Tax. Irs income tax forms 2010 Also, you may need to report Additional Medicare Tax withheld by your employer. Irs income tax forms 2010 For more information see Additional Medicare Tax under Special Rules for Completing Your U. Irs income tax forms 2010 S. Irs income tax forms 2010 Tax Return in chapter 4. Irs income tax forms 2010 Net Investment Income Tax. Irs income tax forms 2010   Beginning in 2013, the Net Investment Income Tax (NIIT) is 3. Irs income tax forms 2010 8 percent of the lesser of an individual’s net investment income or the excess of the individual’s modified adjusted gross income over a specified threshold amount. Irs income tax forms 2010 The NIIT will apply to a bona fide resident of Puerto Rico if a taxpayer has modified adjusted gross income from sources outside of Puerto Rico that exceeds a specified threshold amount, e. Irs income tax forms 2010 g. Irs income tax forms 2010 , $200,000 for single filers. Irs income tax forms 2010 The NIIT does not apply to any individual who is a nonresident alien with respect to the United States. Irs income tax forms 2010 See Form 8960, Net Investment Income Tax—Individuals, Estates, and Trusts, and its instructions for more information on the NIIT. Irs income tax forms 2010 Estimated tax payments. Irs income tax forms 2010   To see if you are required to make payments of estimated income tax, self-employment tax, Additional Medicare Tax, and/or Net Investment Income Tax to the IRS, get Form 1040-ES (or Form 1040-ES(PR)). Irs income tax forms 2010   To pay by check or money order, send your payment with the Form 1040-ES (or Form 1040-ES(PR)) payment voucher to: Internal Revenue Service P. Irs income tax forms 2010 O. Irs income tax forms 2010 Box 1300 Charlotte, NC 28201-1300 USA   To get information on paying electronically (by credit or debit card, or through the Electronic Federal Tax Payment System (EFTPS)), go to www. Irs income tax forms 2010 irs. Irs income tax forms 2010 gov/e-pay. Irs income tax forms 2010   For information on making estimated income tax payments to Hacienda, see Where To Get Forms and Information , earlier. Irs income tax forms 2010 Not a Bona Fide Resident of Puerto Rico An individual who is not a bona fide resident of Puerto Rico for the tax year generally files tax returns with both Puerto Rico and the United States. Irs income tax forms 2010 U. Irs income tax forms 2010 S. Irs income tax forms 2010 citizen or resident alien. Irs income tax forms 2010   If you are a U. Irs income tax forms 2010 S. Irs income tax forms 2010 citizen or resident alien but not a bona fide resident of Puerto Rico during the entire tax year, you generally must file the following returns. Irs income tax forms 2010 A Puerto Rico tax return reporting only your income from Puerto Rico sources. Irs income tax forms 2010 Wages for services performed in Puerto Rico, whether for a private employer, the U. Irs income tax forms 2010 S. Irs income tax forms 2010 Government, or otherwise, is income from Puerto Rico sources. Irs income tax forms 2010 A U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax return reporting income from worldwide sources. Irs income tax forms 2010 Generally, you can claim a foreign tax credit for income taxes paid to Puerto Rico on the Puerto Rico income that is not exempt from U. Irs income tax forms 2010 S. Irs income tax forms 2010 taxes (see chapter 4 for more information). Irs income tax forms 2010 Nonresident alien. Irs income tax forms 2010   If you are a nonresident alien of the United States who does not qualify as a bona fide resident of Puerto Rico for the entire tax year, you generally must file the following returns. Irs income tax forms 2010 A Puerto Rico tax return reporting only your income from Puerto Rico sources. Irs income tax forms 2010 Wages for services performed in Puerto Rico, whether for a private employer, the U. Irs income tax forms 2010 S. Irs income tax forms 2010 Government, or otherwise, is income from Puerto Rico sources. Irs income tax forms 2010 A U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax return (Form 1040NR) according to the rules for a nonresident alien. Irs income tax forms 2010 See the Instructions for Form 1040NR. Irs income tax forms 2010 De minimis exception to determining source of income. Irs income tax forms 2010   In certain situations you will not have income from a possession. Irs income tax forms 2010 See De minimis exception under Compensation for Labor or Personal Services in chapter 2. Irs income tax forms 2010 Use the addresses listed below to file your U. Irs income tax forms 2010 S. Irs income tax forms 2010 and Puerto Rico income tax returns. Irs income tax forms 2010 If you are not including a check or a money order, send your U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax return and all attachments to: Department of the Treasury Internal Revenue Service Austin, TX 73301-0215 USA If you are including a check or a money order, send your U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax return and all attachments to: Internal Revenue Service P. Irs income tax forms 2010 O. Irs income tax forms 2010 Box 1303 Charlotte, NC 28201-1303 USA If you request a refund on your Puerto Rico return, send your Puerto Rico tax return and all attachments to: Departamento de Hacienda P. Irs income tax forms 2010 O. Irs income tax forms 2010 Box 50072 San Juan, PR 00902-6272 Send all other Puerto Rico tax returns, with all attachments, to: Departamento de Hacienda P. Irs income tax forms 2010 O. Irs income tax forms 2010 Box 9022501 San Juan, PR 00902-2501 Special Rules for Puerto Rico In addition to the general rules given earlier for filing U. Irs income tax forms 2010 S. Irs income tax forms 2010 and Puerto Rico tax returns, there are some special rules that apply to certain individuals and types of income. Irs income tax forms 2010 U. Irs income tax forms 2010 S. Irs income tax forms 2010 Government employees. Irs income tax forms 2010   Wages and cost-of-living allowances paid by the U. Irs income tax forms 2010 S. Irs income tax forms 2010 Government (or one of its agencies) for working in Puerto Rico are subject to Puerto Rico tax. Irs income tax forms 2010 However, the cost-of-living allowances are excluded from Puerto Rico gross income up to the amount exempt from U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax. Irs income tax forms 2010 In order to claim this exclusion, you must: Include with your Puerto Rico tax return evidence to show the amount received during the year, and Be in full compliance with your Puerto Rico tax responsibilities. Irs income tax forms 2010   These wages are also subject to U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax, but the cost-of-living allowances are excludable. Irs income tax forms 2010 A foreign tax credit is available in order to avoid double taxation. Irs income tax forms 2010 U. Irs income tax forms 2010 S. Irs income tax forms 2010 Armed Forces. Irs income tax forms 2010   Bona fide residents of Puerto Rico include military personnel whose official home of record is Puerto Rico. Irs income tax forms 2010 Civilian spouse of active duty member of the U. Irs income tax forms 2010 S. Irs income tax forms 2010 Armed Forces. Irs income tax forms 2010   If, under the rule discussed at the beginning of chapter 1 (see Special rule for civilian spouse of active duty member of the U. Irs income tax forms 2010 S. Irs income tax forms 2010 Armed Forces ), your tax residence is Puerto Rico, follow the guidance in the section for bona fide residents under Which Returns To File, earlier. Irs income tax forms 2010 However, if your tax residence is one of the 50 states or the District of Columbia and your only income from Puerto Rico is from wages, salaries, tips, or self-employment, you will be taxed on your worldwide income and file only a U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax return (Form 1040) and a state and/or local tax return, if required. Irs income tax forms 2010 If you have income from Puerto Rico other than wages, salaries, tips, or self-employment that is considered to be sourced in that possession (see Table 2-1 ), contact the Hacienda for guidance. Irs income tax forms 2010 Income from sources outside Puerto Rico and the United States. Irs income tax forms 2010   If you are a U. Irs income tax forms 2010 S. Irs income tax forms 2010 citizen and bona fide resident of Puerto Rico and you have income from sources outside both Puerto Rico and the United States, that income is treated as foreign source income under both tax systems. Irs income tax forms 2010 In addition to your Puerto Rico and U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax returns, you may also have to file a return with the country or possession from which your outside income was derived. Irs income tax forms 2010 To avoid double taxation, a foreign tax credit is generally available for either the U. Irs income tax forms 2010 S. Irs income tax forms 2010 or Puerto Rico return. Irs income tax forms 2010 Example. Irs income tax forms 2010 Thomas Red is a bona fide resident of Puerto Rico and a U. Irs income tax forms 2010 S. Irs income tax forms 2010 citizen. Irs income tax forms 2010 He traveled to the Dominican Republic and worked in the construction industry for 1 month. Irs income tax forms 2010 His wages were $20,000. Irs income tax forms 2010 Because the wages were earned outside Puerto Rico and outside the United States, Thomas must file a tax return with Puerto Rico and the United States. Irs income tax forms 2010 He may also have to file a tax return with the Dominican Republic. Irs income tax forms 2010 Moving expense deduction. Irs income tax forms 2010   Generally, expenses of a move to Puerto Rico are directly attributable to wages, salaries, and other earned income from Puerto Rico. Irs income tax forms 2010 Likewise, the expenses of a move back to the United States are generally attributable to U. Irs income tax forms 2010 S. Irs income tax forms 2010 earned income. Irs income tax forms 2010   If your move was to Puerto Rico, report your deduction for moving expenses as follows. Irs income tax forms 2010 If you are a bona fide resident in the tax year of your move, enter your deductible expenses on your Puerto Rico tax return. Irs income tax forms 2010 If you are not a bona fide resident, enter your deductible expenses on both your Puerto Rico and U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax returns. Irs income tax forms 2010 Also, for purposes of a tax credit against your U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax liability, reduce your Puerto Rico “general category income” on Form 1116, line 1a, by entering the deductible moving expenses on line 2. Irs income tax forms 2010   If your move was to the United States, complete Form 3903 and enter the deductible amount on Form 1040, line 26. Irs income tax forms 2010 Additional child tax credit. Irs income tax forms 2010   If you are not required to file a U. Irs income tax forms 2010 S. Irs income tax forms 2010 income tax return, this credit is available only if you meet all three of the following conditions. Irs income tax forms 2010 You were a bona fide resident of Puerto Rico during the entire tax year. Irs income tax forms 2010 Social security and Medicare taxes were withheld from your wages or you paid self-employment tax. Irs income tax forms 2010 You had three or more qualifying children. Irs income tax forms 2010 (For the definition of a qualifying child, see the instructions for Form 1040-PR or Form 1040-SS. Irs income tax forms 2010 ) If your income exceeds certain levels, you may be disqualified from receiving this credit. Irs income tax forms 2010 Use Form 1040-PR or Form 1040-SS to claim the additional child tax credit. Irs income tax forms 2010 Advice about possible tax benefits under the Puerto Rico investment incentive programs is available from the Puerto Rico tax authorities. Irs income tax forms 2010 Double Taxation A mutual agreement procedure exists to settle cases of double taxation between the United States and the Commonwealth of Puerto Rico. Irs income tax forms 2010 See Double Taxation in chapter 4. Irs income tax forms 2010 The Commonwealth of the Northern Mariana Islands The Commonwealth of the Northern Mariana Islands (CNMI) has its own tax system based partly on the same tax laws and tax rates that apply to the United States and partly on local taxes imposed by the CNMI government. Irs income tax forms 2010 Where To Get Forms and Information Requests for advice about CNMI residency and tax matters should be addressed to: Commonwealth of the Northern Mariana Islands  Division of Revenue and Taxation P. Irs income tax forms 2010 O. Irs income tax forms 2010 Box 5234 CHRB Dandan Commercial Center First Floor Rm #8  Saipan, MP 96950 You can order forms and publications by calling (670) 664-1000. Irs income tax forms 2010 You can order forms and publications through the fax at (670) 664-1015. Irs income tax forms 2010 You can get forms and publications at www. Irs income tax forms 2010 cnmidof. Irs income tax forms 2010 net. Irs income tax forms 2010 The addresses and phone numbers listed above are subject to change. Irs income tax forms 2010 Which Return To File In general, all individuals with income from the CNMI will file only one return, either to the CNMI or to the United States. Irs income tax forms 2010 Your residency status with regard to the CNMI determines which return you will file. Irs income tax forms 2010 Be sure to check the Special Rules for the CNMI , later, for additional information about filing your tax return. Irs income tax forms 2010 Bona Fide Resident of the CNMI If you are a U. Irs income tax forms 2010 S. Irs income tax forms 2010 citizen, resident alien, or nonresident alien and a bona fide resident of the CNMI during the entire tax year, file your income tax return with the CNMI. Irs income tax forms 2010 Include income from worldwide sources on your CNMI return. Irs income tax forms 2010 In determining your total tax payments, include all income tax withheld by either the CNMI or the United States, any credit for an overpayment of income tax to either the CNMI or the United States, and any payments of estimated tax to either the CNMI or the United States. Irs income tax forms 2010 Pay any balance of tax due with your tax return. Irs income tax forms 2010 Generally, if you properly file your return with, and fully pay your income tax to, the CNMI, then you are not liable for filing an income tax return with, or for paying tax to, the United States for the tax year. Irs income tax forms 2010 However, if you were self-employed in 2013, see Self-employment tax , later. Irs income tax forms 2010 Example. Irs income tax forms 2010 David Gold was a bona fide resident of the CNMI for 2013. Irs income tax forms 2010 He received wages of $30,000 paid by a private employer in the CNMI and dividends of $4,000 from U. Irs income tax forms 2010 S. Irs income tax forms 2010 corporations that carry on business mainly in the United States. Irs income tax forms 2010 He must file a 2013 income tax return with the CNMI Division of Revenue and Taxation. Irs income tax forms 2010 He reports his total income of $34,000 on the CNMI return. Irs income tax forms 2010   If you are a bona fide resident of the CNMI for the entire tax year, send your return and all attachments to the Division of Revenue and Taxation at the address given earlier. Irs income tax forms 2010 U. Irs income tax forms 2010 S. Irs income tax forms 2010 Citizen or Resident Alien (Other Than a Bona Fide Resident of the CNMI) If you have income from sources within the CNMI and are a U. Irs income tax forms 2010 S. Irs income tax forms 2010 citizen or resident alien, but you are not a bona fide resident of the CNMI during the entire tax year, file your income tax return with the United States. Irs income tax forms 2010 Include income from worldwide sources on your U. Irs income tax forms 2010 S. Irs income tax forms 2010 return. Irs income tax forms 2010 In determining your total tax payments, include all income tax withheld by either the United States or the CNMI, any credit for an overpayment of income tax to either the United States or the CNMI, and any payments of estimated tax to either the United States or the CNMI. Irs income tax forms 2010 Pay any balance of tax due with your tax return. Irs income tax forms 2010 Note. Irs income tax forms 2010 You may also need to complete Form 5074. Irs income tax forms 2010 You are not liable for filing an income tax return with, or for paying tax to, the CNMI for the tax year. Irs income tax forms 2010 Form 5074. Irs income tax forms 2010   If you file a U. Irs income tax forms 2010 S. Irs income tax forms 2010 income tax return, attach a completed Form 5074 if you (and your spouse if filing a joint return) have: Adjusted gross income of $50,000 or more for the tax year, and Gross income of $5,000 or more from sources within the CNMI. Irs income tax forms 2010   The United States and the CNMI use this form to divide your income taxes. Irs income tax forms 2010   There is an example of a filled-in Form 5074 in chapter 5. Irs income tax forms 2010 De minimis exception to determining source of income. Irs income tax forms 2010   In certain situations you will not have income from a possession. Irs income tax forms 2010 See De minimis exception under Compensation for Labor or Personal Services in chapter 2. Irs income tax forms 2010 Citizen or resident alien of the United States but not a bona fide resident of the CNMI. Irs income tax forms 2010   If you are a citizen or resident alien of the United States but not a bona fide resident of the CNMI during the entire tax year and you are not including a check or a money order, send your return and all attachments to: Department of the Treasury Internal Revenue Service Austin, TX 73301-0215 USA   If you are including a check or a money order, send your U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax return and all attachments to: Internal Revenue Service P. Irs income tax forms 2010 O. Irs income tax forms 2010 Box 1303 Charlotte, NC 28201-1303 USA Nonresident Alien (Other Than a Bona Fide Resident of the CNMI) If you are a nonresident alien of the United States who does not qualify as a bona fide resident of the CNMI for the entire tax year, you generally must file the following returns. Irs income tax forms 2010 A CNMI tax return reporting only your income from sources within the CNMI. Irs income tax forms 2010 In this situation, wages for services performed in the CNMI, whether for a private employer, the U. Irs income tax forms 2010 S. Irs income tax forms 2010 Government, or otherwise, is income from sources within the CNMI. Irs income tax forms 2010 A U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax return (Form 1040NR) reporting U. Irs income tax forms 2010 S. Irs income tax forms 2010 source income according to the rules for a nonresident alien. Irs income tax forms 2010 See the instructions for Form 1040NR. Irs income tax forms 2010 If you are not a bona fide resident of the CNMI during the entire tax year and you are not including a check or a money order, send your U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax return and all attachments to: Department of the Treasury Internal Revenue Service Austin, TX 73301-0215 USA If you are including a check or a money order, send your U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax return and all attachments to:  Internal Revenue Service P. Irs income tax forms 2010 O. Irs income tax forms 2010 Box 1303 Charlotte, NC 28201-1303 USA Send your CNMI tax return and all attachments to:  Department of Finance Division of Revenue and Taxation Commonwealth of the Northern Mariana Islands P. Irs income tax forms 2010 O. Irs income tax forms 2010 Box 5234 CHRB Saipan, MP 96950 Citizen of the CNMI If you are a citizen of the CNMI (meaning that you were born or naturalized in the CNMI) but not otherwise a U. Irs income tax forms 2010 S. Irs income tax forms 2010 citizen or a U. Irs income tax forms 2010 S. Irs income tax forms 2010 resident alien during the tax year, file your income tax return with the CNMI. Irs income tax forms 2010 Include income from worldwide sources on your CNMI return. Irs income tax forms 2010 Take into account tax withheld by both jurisdictions in determining if there is tax overdue or an overpayment. Irs income tax forms 2010 Pay any balance of tax due with your tax return. Irs income tax forms 2010 Send your return and all attachments to:   Department of Finance Division of Revenue and Taxation Commonwealth of the Northern Mariana Islands P. Irs income tax forms 2010 O. Irs income tax forms 2010 Box 5234 CHRB Saipan, MP 96950 Special Rules for the CNMI Special rules apply to certain types of income, employment, and filing status. Irs income tax forms 2010 Joint return. Irs income tax forms 2010   If you file a joint return, file your return (and pay the tax) with the jurisdiction where the spouse who has the greater adjusted gross income (AGI) would have to file if you were filing separately. Irs income tax forms 2010 If the spouse with the greater AGI is a bona fide resident of the CNMI during the entire tax year, file the joint return with the CNMI. Irs income tax forms 2010 If the spouse with the greater AGI is a U. Irs income tax forms 2010 S. Irs income tax forms 2010 citizen or resident alien but not a bona fide resident of the CNMI during the entire tax year, file your joint return with the United States. Irs income tax forms 2010 For this purpose, income is determined without regard to community property laws. Irs income tax forms 2010 Example. Irs income tax forms 2010 Marsha Blue, a U. Irs income tax forms 2010 S. Irs income tax forms 2010 citizen, was a resident of the United States, and her spouse, a citizen of the CNMI, was a bona fide resident of the CNMI during the entire tax year. Irs income tax forms 2010 Marsha earned $65,000 as a computer programmer in the United States. Irs income tax forms 2010 Her spouse earned $20,000 as an artist in the CNMI. Irs income tax forms 2010 Marsha and her spouse will file a joint return. Irs income tax forms 2010 Because Marsha has the greater AGI, she and her spouse must file their return with the United States and report the entire $85,000 on that return. Irs income tax forms 2010 U. Irs income tax forms 2010 S. Irs income tax forms 2010 Armed Forces. Irs income tax forms 2010   If you are a member of the U. Irs income tax forms 2010 S. Irs income tax forms 2010 Armed Forces who qualified as a bona fide resident of the CNMI in a prior tax year, your absence from the CNMI solely in compliance with military orders will not change your bona fide residency. Irs income tax forms 2010 If you did not qualify as a bona fide resident of the CNMI in a prior tax year, your presence in the CNMI solely in compliance with military orders will not qualify you as a bona fide resident of the CNMI. Irs income tax forms 2010 Civilian spouse of active duty member of the U. Irs income tax forms 2010 S. Irs income tax forms 2010 Armed Forces. Irs income tax forms 2010   If, under the rule discussed at the beginning of chapter 1 (see Special rule for civilian spouse of active duty member of the U. Irs income tax forms 2010 S. Irs income tax forms 2010 Armed Forces ), your tax residence is the CNMI, follow the guidance in the section for bona fide residents under Which Return To File, earlier. Irs income tax forms 2010 However, if your tax residence is one of the 50 states or the District of Columbia and your only income from the CNMI is from wages, salaries, tips, or self-employment, you will be taxed on your worldwide income and file only a U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax return (Form 1040) and a state and/or local tax return, if required. Irs income tax forms 2010 If you have income from the CNMI other than wages, salaries, tips, or self-employment that is considered to be sourced in that possession (see Table 2-1), you may need to file Form 5074 with your U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax return. Irs income tax forms 2010 Moving expense deduction. Irs income tax forms 2010   Generally, expenses of a move to the CNMI are directly attributable to wages, salaries, and other earned income from the CNMI. Irs income tax forms 2010 Likewise, the expenses of a move back to the United States are generally attributable to U. Irs income tax forms 2010 S. Irs income tax forms 2010 earned income. Irs income tax forms 2010   If your move was to the CNMI, report your deduction for moving expenses as follows. Irs income tax forms 2010 If you are a bona fide resident in the tax year of your move, enter your deductible expenses on your CNMI tax return. Irs income tax forms 2010 If you are not a bona fide resident, enter your deductible expenses on Form 3903 and enter the deductible amount on Form 1040, line 26, and on Form 5074, line 20. Irs income tax forms 2010   If your move was to the United States, complete Form 3903 and enter the deductible amount on Form 1040, line 26. Irs income tax forms 2010 Foreign tax credit. Irs income tax forms 2010   Under the filing rules explained earlier, individuals with CNMI source income normally will not claim a foreign tax credit on a U. Irs income tax forms 2010 S. Irs income tax forms 2010 income tax return for tax paid to the CNMI. Irs income tax forms 2010 Self-employment tax. Irs income tax forms 2010   If you have no U. Irs income tax forms 2010 S. Irs income tax forms 2010 filing requirement, but have income that is effectively connected with a trade or business in the CNMI, you must file Form 1040-SS with the United States to report your self-employment income and, if necessary, pay self-employment tax. Irs income tax forms 2010 Additional Medicare Tax. Irs income tax forms 2010   Beginning in 2013, you may be required to pay Additional Medicare Tax. Irs income tax forms 2010 Also, you may need to report Additional Medicare Tax withheld by your employer. Irs income tax forms 2010 For more information see Additional Medicare Tax under Special Rules for Completing Your U. Irs income tax forms 2010 S. Irs income tax forms 2010 Tax Return in chapter 4. Irs income tax forms 2010 Estimated tax payments. Irs income tax forms 2010   To see if you are required to make payments of estimated income tax, self-employment tax, and/or Additional Medicare Tax to the IRS, get Form 1040-ES. Irs income tax forms 2010 Payment of estimated tax. Irs income tax forms 2010   If you must pay estimated tax, make your payment to the jurisdiction where you would file your income tax return if your tax year were to end on the date your first estimated tax payment is due. Irs income tax forms 2010 Generally, you should make the rest of your quarterly payments of estimated tax to the jurisdiction where you made your first payment of estimated tax. Irs income tax forms 2010 However, estimated tax payments to either jurisdiction will be treated as payments to the jurisdiction with which you file the tax return. Irs income tax forms 2010   If you make a joint payment of estimated tax, make your payment to the jurisdiction where the spouse who has the greater estimated AGI would have to pay (if a separate payment were made). Irs income tax forms 2010 For this purpose, income is determined without regard to community property laws. Irs income tax forms 2010 Early payment. Irs income tax forms 2010   If you make your first payment of estimated tax early, follow the rules given earlier to determine where to send it. Irs income tax forms 2010 If you send it to the wrong jurisdiction, make all later payments to the jurisdiction to which the first payment should have been sent. Irs income tax forms 2010   To pay by check or money order, send your payment with the Form 1040-ES payment voucher to:  Internal Revenue Service P. Irs income tax forms 2010 O. Irs income tax forms 2010 Box 1300 Charlotte, NC 28201-1300 USA   To get information on paying electronically (by credit or debit card, or through the Electronic Federal Tax Payment System (EFTPS)), go to www. Irs income tax forms 2010 irs. Irs income tax forms 2010 gov/e-pay. Irs income tax forms 2010   For information on making estimated income tax payments to the CNMI, see Where To Get Forms and Information , earlier. Irs income tax forms 2010 Double Taxation A mutual agreement procedure exists to settle cases of double taxation between the United States and the CNMI. Irs income tax forms 2010 See Double Taxation in chapter 4. Irs income tax forms 2010 Guam Guam has its own tax system based on the same tax laws and tax rates that apply in the United States. Irs income tax forms 2010 Where To Get Forms and Information Requests for advice about Guam residency and tax matters should be addressed to: Department of Revenue and Taxation Government of Guam P. Irs income tax forms 2010 O. Irs income tax forms 2010 Box 23607 GMF, GU 96921 You can order forms and publications by calling (671) 635-1840 or (671) 635-1841. Irs income tax forms 2010 You can order forms and publications through the fax at (671) 633-2643. Irs income tax forms 2010 You can get forms and publications at www. Irs income tax forms 2010 guamtax. Irs income tax forms 2010 com. Irs income tax forms 2010 The addresses and phone numbers listed above are subject to change. Irs income tax forms 2010 Which Return To File Bona fide residents of Guam are subject to special U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax rules. Irs income tax forms 2010 In general, all individuals with income from Guam will file only one return—either to Guam or the United States. Irs income tax forms 2010 Bona Fide Resident of Guam If you are a bona fide resident of Guam during the entire tax year, file your return with Guam. Irs income tax forms 2010 This applies to all bona fide residents who are citizens, resident aliens, or nonresident aliens of the United States. Irs income tax forms 2010 Include income from worldwide sources on your Guam return. Irs income tax forms 2010 In determining your total tax payments, include all income tax withheld by either Guam or the United States, any credit for an overpayment of income tax to either Guam or the United States, and any payments of estimated tax to either Guam or the United States. Irs income tax forms 2010 Pay any balance of tax due with your tax return. Irs income tax forms 2010 Generally, if you properly file your return with, and fully pay your income tax to, Guam, then you are not liable for filing an income tax return with, or for paying tax to, the United States. Irs income tax forms 2010 However, if you were self-employed in 2013, see Self-employment tax , later. Irs income tax forms 2010 Example. Irs income tax forms 2010 Gary Barker was a bona fide resident of Guam for 2013. Irs income tax forms 2010 He received wages of $25,000 paid by a private employer in Guam and dividends of $2,000 from U. Irs income tax forms 2010 S. Irs income tax forms 2010 corporations that carry on business mainly in the United States. Irs income tax forms 2010 He must file a 2013 income tax return with the Government of Guam. Irs income tax forms 2010 He reports his total income of $27,000 on the Guam return. Irs income tax forms 2010 If you are a bona fide resident of Guam for the entire tax year, send your return and all attachments to:  Department of Revenue and Taxation Government of Guam P. Irs income tax forms 2010 O. Irs income tax forms 2010 Box 23607 GMF, GU 96921 U. Irs income tax forms 2010 S. Irs income tax forms 2010 Citizen or Resident Alien (Other Than a Bona Fide Resident of Guam) If you have income from sources within Guam and are a U. Irs income tax forms 2010 S. Irs income tax forms 2010 citizen or resident alien, but you are not a bona fide resident of Guam during the entire tax year, file your income tax return with the United States. Irs income tax forms 2010 Include income from worldwide sources on your U. Irs income tax forms 2010 S. Irs income tax forms 2010 return. Irs income tax forms 2010 In determining your total tax payments, include all income tax withheld by either the United States or Guam, any credit for an overpayment of income tax to either the United States or Guam, and any payments of estimated tax to either the United States or Guam. Irs income tax forms 2010 Pay any balance of tax due with your tax return. Irs income tax forms 2010 You may also need to complete Form 5074. Irs income tax forms 2010 You are not liable for filing an income tax return with, or for paying tax to, Guam for the tax year. Irs income tax forms 2010 Form 5074. Irs income tax forms 2010   If you file a U. Irs income tax forms 2010 S. Irs income tax forms 2010 income tax return, attach a completed Form 5074 if you (and your spouse if filing a joint return) have: Adjusted gross income of $50,000 or more for the tax year, and Gross income of $5,000 or more from sources within Guam. Irs income tax forms 2010   The United States and Guam use this form to divide your income taxes. Irs income tax forms 2010   See the Illustrated Example of Form 5074 in chapter 5. Irs income tax forms 2010 De minimis exception to determining source of income. Irs income tax forms 2010   In certain situations you will not have income from a possession. Irs income tax forms 2010 See De minimis exception under Compensation for Labor or Personal Services in chapter 2. Irs income tax forms 2010   If you are a citizen or resident alien of the United States but not a bona fide resident of Guam during the entire tax year and you are not including a check or money order, send your U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax return and all attachments (including Form 5074) to:  Department of the Treasury Internal Revenue Service Austin, TX 73301-0215 USA   If you are including a check or a money order, send your U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax return and all attachments (including Form 5074) to:  Internal Revenue Service P. Irs income tax forms 2010 O. Irs income tax forms 2010 Box 1303 Charlotte, NC 28201-1303 USA Nonresident Alien (Other Than a Bona Fide Resident of Guam) If you are a nonresident alien of the United States who does not qualify as a bona fide resident of Guam for the entire tax year, you generally must file the following returns. Irs income tax forms 2010 A Guam tax return reporting only your income from sources within Guam. Irs income tax forms 2010 In this situation, wages for services performed in Guam, whether for a private employer, the U. Irs income tax forms 2010 S. Irs income tax forms 2010 Government, or otherwise, is income from sources within Guam. Irs income tax forms 2010 A U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax return (Form 1040NR) reporting U. Irs income tax forms 2010 S. Irs income tax forms 2010 source income according to the rules for a nonresident alien. Irs income tax forms 2010 See the instructions for Form 1040NR. Irs income tax forms 2010 If you are not a bona fide resident of Guam during the entire tax year and you are not including a check or money order, send your U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax return and all attachments to:  Department of the Treasury Internal Revenue Service Austin, TX 73301-0215 USA If you are including a check or a money order, send your U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax return and all attachments to:  Internal Revenue Service P. Irs income tax forms 2010 O. Irs income tax forms 2010 Box 1303 Charlotte, NC 28201-1303 USA Send your Guam tax return and all attachments to:   Department of Revenue and Taxation P. Irs income tax forms 2010 O. Irs income tax forms 2010 Box 23607 GMF, GU 96921 Citizen of Guam If you are a citizen of Guam (meaning that you were born or naturalized in Guam) but not otherwise a U. Irs income tax forms 2010 S. Irs income tax forms 2010 citizen or a U. Irs income tax forms 2010 S. Irs income tax forms 2010 resident alien during the tax year, file your income tax return with Guam. Irs income tax forms 2010 Include income from worldwide sources on your Guam return. Irs income tax forms 2010 Take into account tax withheld by both jurisdictions in determining if there is tax overdue or an overpayment. Irs income tax forms 2010 Pay any balance of tax due with your tax return. Irs income tax forms 2010 If you are a citizen of Guam, send your return and all attachments to:  Department of Revenue and Taxation Government of Guam P. Irs income tax forms 2010 O. Irs income tax forms 2010 Box 23607 GMF, GU 96921 Special Rules for Guam Special rules apply to certain types of income, employment, and filing status. Irs income tax forms 2010 Joint return. Irs income tax forms 2010   If you file a joint return, you should file your return (and pay the tax) with the jurisdiction where the spouse who has the greater adjusted gross income (AGI) would have to file if you were filing separately. Irs income tax forms 2010 If the spouse with the greater AGI is a bona fide resident of Guam during the entire tax year, file the joint return with Guam. Irs income tax forms 2010 If the spouse with the greater AGI is a U. Irs income tax forms 2010 S. Irs income tax forms 2010 citizen or resident alien but not a bona fide resident of Guam during the entire tax year, file the joint return with the United States. Irs income tax forms 2010 For this purpose, income is determined without regard to community property laws. Irs income tax forms 2010 Example. Irs income tax forms 2010 Bill Whiting, a U. Irs income tax forms 2010 S. Irs income tax forms 2010 citizen, was a resident of the United States, and his spouse, a citizen of Guam, was a bona fide resident of Guam during the entire tax year. Irs income tax forms 2010 Bill earned $45,000 as an engineer in the United States. Irs income tax forms 2010 His spouse earned $15,000 as a teacher in Guam. Irs income tax forms 2010 Bill and his spouse will file a joint return. Irs income tax forms 2010 Because Bill has the greater AGI, he and his spouse must file their return with the United States and report the entire $60,000 on that return. Irs income tax forms 2010 U. Irs income tax forms 2010 S. Irs income tax forms 2010 Armed Forces. Irs income tax forms 2010   If you are a member of the U. Irs income tax forms 2010 S. Irs income tax forms 2010 Armed Forces who qualified as a bona fide resident of Guam in a prior tax year, your absence from Guam solely in compliance with military orders will not change your bona fide residency. Irs income tax forms 2010 If you did not qualify as a bona fide resident of Guam in a prior tax year, your presence in Guam solely in compliance with military orders will not qualify you as a bona fide resident of Guam. Irs income tax forms 2010 Civilian spouse of active duty member of the U. Irs income tax forms 2010 S. Irs income tax forms 2010 Armed Forces. Irs income tax forms 2010   If, under the rule discussed at the beginning of chapter 1 (see Special rule for civilian spouse of active duty member of the U. Irs income tax forms 2010 S. Irs income tax forms 2010 Armed Forces ), your tax residence is Guam, follow the guidance in the section for bona fide residents under Which Return To File, earlier. Irs income tax forms 2010 However, if your tax residence is one of the 50 states or the District of Columbia and your only income from Guam is from wages, salaries, tips, or self-employment, you will be taxed on your worldwide income and file only a U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax return (Form 1040) and a state and/or local tax return, if required. Irs income tax forms 2010 If you have income from Guam other than wages, salaries, tips, or self-employment that is considered to be sourced in that possession (see Table 2-1), you may need to file Form 5074 with your U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax return. Irs income tax forms 2010 Moving expense deduction. Irs income tax forms 2010   Generally, expenses of a move to Guam are directly attributable to wages, salaries, and other earned income from Guam. Irs income tax forms 2010 Likewise, the expenses of a move back to the United States are generally attributable to U. Irs income tax forms 2010 S. Irs income tax forms 2010 earned income. Irs income tax forms 2010   If your move was to Guam, report your deduction for moving expenses as follows. Irs income tax forms 2010 If you are a bona fide resident in the tax year of your move, enter your deductible expenses on your Guam tax return. Irs income tax forms 2010 If you are not a bona fide resident, enter your deductible expenses on Form 3903 and enter the deductible amount on Form 1040, line 26, and on Form 5074, line 20. Irs income tax forms 2010   If your move was to the United States, complete Form 3903 and enter the deductible amount on Form 1040, line 26. Irs income tax forms 2010 Foreign tax credit. Irs income tax forms 2010   Under the filing rules explained earlier, individuals with Guam source income normally will not claim a foreign tax credit on a U. Irs income tax forms 2010 S. Irs income tax forms 2010 income tax return for tax paid to Guam. Irs income tax forms 2010 Self-employment tax. Irs income tax forms 2010   If you have no U. Irs income tax forms 2010 S. Irs income tax forms 2010 filing requirement, but have income that is effectively connected with a trade or business in Guam, you must file Form 1040-SS with the United States to report your self-employment income and, if necessary, pay self-employment tax. Irs income tax forms 2010 Additional Medicare Tax. Irs income tax forms 2010   Beginning in 2013, you may be required to pay Additional Medicare Tax. Irs income tax forms 2010 Also, you may need to report Additional Medicare Tax withheld by your employer. Irs income tax forms 2010 For more information see Additional Medicare Tax under Special Rules for Completing Your U. Irs income tax forms 2010 S. Irs income tax forms 2010 Tax Return in chapter 4. Irs income tax forms 2010 Estimated tax payments. Irs income tax forms 2010   To see if you are required to make payments of estimated income tax, self-employment tax, and/or Additional Medicare Tax, to the IRS, get Form 1040-ES. Irs income tax forms 2010 Payment of estimated tax. Irs income tax forms 2010   If you must pay estimated tax, make your payment to the jurisdiction where you would file your income tax return if your tax year were to end on the date your first estimated tax payment is due. Irs income tax forms 2010 Generally, you should make the rest of your quarterly payments of estimated tax to the jurisdiction where you made your first payment of estimated tax. Irs income tax forms 2010 However, estimated tax payments to either jurisdiction will be treated as payments to the jurisdiction with which you file the tax return. Irs income tax forms 2010   If you make a joint payment of estimated tax, make your payment to the jurisdiction where the spouse who has the greater estimated AGI would have to pay (if a separate payment were made). Irs income tax forms 2010 For this purpose, income is determined without regard to community property laws. Irs income tax forms 2010 Early payment. Irs income tax forms 2010   If you make your first payment of estimated tax early, follow the rules given earlier to determine where to send it. Irs income tax forms 2010 If you send it to the wrong jurisdiction, make all later payments to the jurisdiction to which the first payment should have been sent. Irs income tax forms 2010   To pay by check or money order, send your payment with the Form 1040-ES payment voucher to:  Department of Revenue and Taxation Government of Guam P. Irs income tax forms 2010 O. Irs income tax forms 2010 Box 23607 GMF, GU 96921   To get information on paying electronically (by credit or debit card, or through the Electronic Federal Tax Payment System (EFTPS)), go to www. Irs income tax forms 2010 irs. Irs income tax forms 2010 gov/e-pay. Irs income tax forms 2010   For information on making estimated income tax payments to the Department of Revenue and Taxation, see Where To Get Forms and Information , earlier. Irs income tax forms 2010 Double Taxation A mutual agreement procedure exists to settle cases of double taxation between the United States and Guam. Irs income tax forms 2010 See Double Taxation in chapter 4. Irs income tax forms 2010 The U. Irs income tax forms 2010 S. Irs income tax forms 2010 Virgin Islands The U. Irs income tax forms 2010 S. Irs income tax forms 2010 Virgin Islands has its own tax system based on the same tax laws and tax rates that apply in the United States. Irs income tax forms 2010 An important factor in USVI taxation is whether, during the entire tax year, you are a bona fide resident of the USVI. Irs income tax forms 2010 Where To Get Forms and Information For information about filing your U. Irs income tax forms 2010 S. Irs income tax forms 2010 Virgin Islands tax return or about Form 1040INFO, in St. Irs income tax forms 2010 Thomas contact : Bureau of Internal Revenue  6115 Estate Smith Bay  St. Irs income tax forms 2010 Thomas, VI 00802 You can order forms and publications by calling (340) 715-1040. Irs income tax forms 2010 You can order forms and publications through the fax at (340) 774-2672. Irs income tax forms 2010 For information about filing your U. Irs income tax forms 2010 S. Irs income tax forms 2010 Virgin Islands tax return or about Form 1040INFO, in St. Irs income tax forms 2010 Croix contact : Bureau of Internal Revenue  4008 Estate Diamond- Plot 7B Christiansted, V. Irs income tax forms 2010 I. Irs income tax forms 2010 00820–4421 You can order forms and publications by calling (340) 773-1040. Irs income tax forms 2010 You can order forms and publications through the fax at (340) 773-1006. Irs income tax forms 2010 You can access the USVI website at www. Irs income tax forms 2010 viirb. Irs income tax forms 2010 com. Irs income tax forms 2010 The addresses and phone numbers listed above are subject to change. Irs income tax forms 2010 Which Return To File In general, bona fide residents of the USVI pay taxes only to the USVI. Irs income tax forms 2010 U. Irs income tax forms 2010 S. Irs income tax forms 2010 citizens or resident aliens (but not bona fide residents of the USVI) with USVI source income pay a portion of the tax to each jurisdiction. Irs income tax forms 2010 Bona Fide Resident of the USVI File your tax return with the USVI if you are a U. Irs income tax forms 2010 S. Irs income tax forms 2010 citizen, resident alien, or nonresident alien and a bona fide resident of the USVI during the entire tax year. Irs income tax forms 2010 Include your worldwide income on your USVI return. Irs income tax forms 2010 In determining your total tax payments, take into account all income tax withheld by either the USVI or the United States, any credit for an overpayment of income tax to either the USVI or the United States, and any payments of estimated tax to either the USVI or the United States. Irs income tax forms 2010 Pay any balance of tax due with your tax return. Irs income tax forms 2010 Filing this return with the USVI generally also starts the statute of limitations on assessment of your U. Irs income tax forms 2010 S. Irs income tax forms 2010 income tax. Irs income tax forms 2010 You generally do not have to file with the United States for any tax year in which you are a bona fide resident of the USVI during the entire tax year, provided you report and pay tax on your income from all sources to the USVI and identify the source(s) of the income on the return. Irs income tax forms 2010 However, if you have self-employment income, you may be required to file Form 1040-SS with the United States. Irs income tax forms 2010 For more information, see Self-employment tax under Special Rules for the USVI, later. Irs income tax forms 2010 Form 1040INFO. Irs income tax forms 2010   If you are a bona fide resident of the USVI and have non-USVI source income, you must also file Virgin Islands Form 1040INFO, Non-Virgin Islands Source Income of Virgin Islands Residents, with the Virgin Islands Bureau of Internal Revenue. Irs income tax forms 2010 Attach Form 1040INFO to your USVI tax return before filing. Irs income tax forms 2010 You can get Form 1040INFO by contacting the address or website given earlier. Irs income tax forms 2010   If you are a bona fide resident of the USVI for the entire tax year, file your return and all attachments with the Virgin Islands Bureau of Internal Revenue at:  USVI Bureau of Internal Revenue 6115 Estate Smith Bay St. Irs income tax forms 2010 Thomas, VI 00802 U. Irs income tax forms 2010 S. Irs income tax forms 2010 Citizen or Resident Alien (Other Than a Bona Fide Resident of the USVI) If you are a U. Irs income tax forms 2010 S. Irs income tax forms 2010 citizen or resident alien but not a bona fide resident of the USVI during the entire tax year, you must file your original Form 1040 with the United States and an identical copy of that return with the USVI if you have: Income from sources in the USVI, or Income effectively connected with the conduct of a trade or business in the USVI. Irs income tax forms 2010 File your original Form 1040 with the United States and file a signed copy of the U. Irs income tax forms 2010 S. Irs income tax forms 2010 return (including all attachments, forms, and schedules) with the Virgin Islands Bureau of Internal Revenue by the due date for filing Form 1040. Irs income tax forms 2010 Use Form 8689 to figure the amount of tax you must pay to the USVI. Irs income tax forms 2010 Form 8689. Irs income tax forms 2010   Complete this form and attach it to both the return you file with the United States and the copy you file with the USVI. Irs income tax forms 2010 Figure the amount of tax you must pay to the USVI as follows:      Total tax on  U. Irs income tax forms 2010 S. Irs income tax forms 2010 return (after certain adjustments) × USVI AGI Worldwide AGI     Pay any tax due to the USVI when you file your return with the Virgin Islands Bureau of Internal Revenue. Irs income tax forms 2010 To receive credit on your U. Irs income tax forms 2010 S. Irs income tax forms 2010 return for taxes paid to the USVI, include the amounts from Form 8689, lines 40 and 45, in the total on Form 1040, line 72. Irs income tax forms 2010 On the dotted line next to line 72, enter “Form 8689” and show the amounts. Irs income tax forms 2010   See the illustrated example in chapter 5. Irs income tax forms 2010 De minimis exception to determining source of income. Irs income tax forms 2010   In certain situations you will not have income from a possession. Irs income tax forms 2010 See De minimis exception under Compensation for Labor or Personal Services in chapter 2. Irs income tax forms 2010   If you are not a bona fide resident of the USVI during the entire tax year, but you have USVI source income, and you are not including a check or a money order, file Form 1040 and all attachments (including Form 8689) with the:  Department of the Treasury Internal Revenue Service Austin, TX 73301-0215 USA   If you are including a check or a money order, send your U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax return and all attachments (including Form 8689) to:  Internal Revenue Service P. Irs income tax forms 2010 O. Irs income tax forms 2010 Box 1303 Charlotte, NC 28201-1303 USA   File a copy of your U. Irs income tax forms 2010 S. Irs income tax forms 2010 Form 1040 with the Virgin Islands Bureau of Internal Revenue at:  USVI Bureau of Internal Revenue 6115 Estate Smith Bay St. Irs income tax forms 2010 Thomas, VI 00802 Nonresident Alien (Other Than a Bona Fide Resident of the USVI) If you are a nonresident alien of the United States who does not qualify as a bona fide resident of the USVI for the entire tax year, you generally must file the following returns. Irs income tax forms 2010 A USVI tax return reporting only your income from sources within the USVI. Irs income tax forms 2010 In this situation, wages for services performed in the USVI, whether for a private employer, the U. Irs income tax forms 2010 S. Irs income tax forms 2010 Government, or otherwise, is income from sources within the USVI. Irs income tax forms 2010 A U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax return (Form 1040NR) reporting U. Irs income tax forms 2010 S. Irs income tax forms 2010 source income according to the rules for a nonresident alien. Irs income tax forms 2010 See the instructions for Form 1040NR. Irs income tax forms 2010   If you are not a bona fide resident of the USVI during the entire tax year, and you are not including a check or a money order, send your U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax return and all attachments (including Form 8689) to:  Department of the Treasury Internal Revenue Service Austin, TX 73301-0215 USA   If you are including a check or a money order, send your U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax return and all attachments (including Form 8689) to:  Internal Revenue Service P. Irs income tax forms 2010 O. Irs income tax forms 2010 Box 1303 Charlotte, NC 28201-1303  USA   Send your USVI tax return and all attachments to:  Bureau of Internal Revenue 6115 Estate Smith Bay St. Irs income tax forms 2010 Thomas, VI 00802 Special Rules for the USVI There are some special rules for certain types of income, employment, and filing status. Irs income tax forms 2010 Joint return. Irs income tax forms 2010   If you file a joint return, you should file your return (and pay the tax) with the jurisdiction where the spouse who has the greater adjusted gross income (AGI) would have to file if you were filing separately. Irs income tax forms 2010 If the spouse with the greater AGI is a bona fide resident of the USVI during the entire tax year, file the joint return with the USVI. Irs income tax forms 2010 If the spouse with the greater AGI is a U. Irs income tax forms 2010 S. Irs income tax forms 2010 citizen or resident alien of the United States but not a bona fide resident of the USVI during the entire tax year, file the joint return with the United States. Irs income tax forms 2010 For this purpose, income is determined without regard to community property laws. Irs income tax forms 2010 Example. Irs income tax forms 2010 Marge Birch, a U. Irs income tax forms 2010 S. Irs income tax forms 2010 citizen, was a resident of the United States, and her spouse, a citizen of the USVI, was a bona fide resident of the USVI during the entire tax year. Irs income tax forms 2010 Marge earned $55,000 as an architect in the United States. Irs income tax forms 2010 Her spouse earned $30,000 as a librarian in the USVI. Irs income tax forms 2010 Marge and her spouse will file a joint return. Irs income tax forms 2010 Because Marge has the greater AGI, she and her spouse must file their return with the United States and report the entire $85,000 on that return. Irs income tax forms 2010 U. Irs income tax forms 2010 S. Irs income tax forms 2010 Armed Forces. Irs income tax forms 2010   If you are a member of the U. Irs income tax forms 2010 S. Irs income tax forms 2010 Armed Forces who qualified as a bona fide resident of the U. Irs income tax forms 2010 S. Irs income tax forms 2010 Virgin Islands in a prior tax year, your absence from the U. Irs income tax forms 2010 S. Irs income tax forms 2010 Virgin Islands solely in compliance with military orders will not change your bona fide residency. Irs income tax forms 2010 If you did not qualify as a bona fide resident of the U. Irs income tax forms 2010 S. Irs income tax forms 2010 Virgin Islands in a prior tax year, your presence in the U. Irs income tax forms 2010 S. Irs income tax forms 2010 Virgin Islands solely in compliance with military orders will not qualify you as a bona fide resident of the U. Irs income tax forms 2010 S. Irs income tax forms 2010 Virgin Islands. Irs income tax forms 2010 Civilian spouse of active duty member of the U. Irs income tax forms 2010 S. Irs income tax forms 2010 Armed Forces. Irs income tax forms 2010   If, under the rule discussed at the beginning of chapter 1 (see Special rule for civilian spouse of active duty member of the U. Irs income tax forms 2010 S. Irs income tax forms 2010 Armed Forces ), your tax residence is the USVI, follow the guidance in the section for bona fide residents under Which Return To File, earlier. Irs income tax forms 2010 However, if your tax residence is one of the 50 states or the District of Columbia and your only income from the USVI is from wages, salaries, tips, or self-employment, you will be taxed on your worldwide income and file only a U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax return (Form 1040) and a state and/or local tax return, if required. Irs income tax forms 2010 If you have income from the USVI other than wages, salaries, tips, or self-employment that is considered to be sourced in that possession (see Table 2-1), you may need to file Form 8689 with your U. Irs income tax forms 2010 S. Irs income tax forms 2010 tax return. Irs income tax forms 2010 In this case, follow the guidance under U. Irs income tax forms 2010 S. Irs income tax forms 2010 Citizen or Resident Alien (Other Than a Bona Fide Resident of the USVI ), earlier. Irs income tax forms 2010 Moving expense deduction. Irs income tax forms 2010   Generally, expenses of a move to the USVI are directly attributable to wages, salaries, and other earned income from the USVI. Irs income tax forms 2010 Likewise, the expenses of a move back to the United States are generally attributable to U. Irs income tax forms 2010 S. Irs income tax forms 2010 earned income. Irs income tax forms 2010   If your move was to the USVI, report your deduction for moving expenses as follows. Irs income tax forms 2010 If you are a bona fide resident in the tax year of your move, enter your deductible expenses on your USVI tax return. Irs income tax forms 2010 If you are not a bona fide resident, enter your deductible expenses on Form 3903 and enter the deductible amount on Form 1040, line 26, and on Form 8689, line 20. Irs income tax forms 2010   If your move was to the United States, complete Form 3903 and enter the deductible amount on Form 1040, line 26. Irs income tax forms 2010 Foreign tax credit. Irs income tax forms 2010   Under the filing rules explained earlier, individuals with USVI source income normally will not claim a foreign tax credit on a U. Irs income tax forms 2010 S. Irs income tax forms 2010 income tax return for tax paid to the USVI. Irs income tax forms 2010 However, individuals other than bona fide residents of the USVI may claim a direct credit for such tax (see Form 8689 earlier in this section). Irs income tax forms 2010 Self-employment tax. Irs income tax forms 2010   If you have no U. Irs income tax forms 2010 S. Irs income tax forms 2010 filing requirement, but have income that is effectively connected with a trade or business in the USVI, you must file Form 1040-SS with the United States to report your self-employment income and, if necessary, pay self-employment tax. Irs income tax forms 2010 Additional Medicare Tax. Irs income tax forms 2010   Beginning in 2013, you may be required to pay Additional Medicare Tax. Irs income tax forms 2010 Also, you may need to report Additional Medicare Tax withheld by your employer. Irs income tax forms 2010 For more information see Additional Medicare Tax under Special Rules for Completing Your U. Irs income tax forms 2010 S. Irs income tax forms 2010 Tax Return in chapter 4. Irs income tax forms 2010 Estimated tax payments. Irs income tax forms 2010   To see if you are required to make payments of estimated income tax, self-employment tax, and/or Additional Medicare Tax, to the IRS, get Form 1040-ES. Irs income tax forms 2010   To pay by check or money order, send your payment with the Form 1040-ES payment voucher to:  Virgin Islands Bureau of Internal Revenue 6115 Estate Smith Bay St. Irs income tax forms 2010 Thomas, VI 00802   To get information on paying electronically (by credit or debit card, or through the Electronic Federal Tax Payment System (EFTPS)), go to www. Irs income tax forms 2010 irs. Irs income tax forms 2010 gov/e-pay. Irs income tax forms 2010   For information on making estimated income tax payments to the Bureau of Internal Revenue, see Where To Get Forms and Information , earlier. Irs income tax forms 2010 Extension of time to file. Irs income tax forms 2010   You can get an automatic 6-month extension of time to file your tax return. Irs income tax forms 2010 See Extension of Time To File in chapter 4. Irs income tax forms 2010 Bona fide residents of the USVI during the entire tax year must file a paper Form 4868 with the Virgin Islands Bureau of Internal Revenue. Irs income tax forms 2010 Nonresidents of the USVI should file separate extension requests with the IRS and the Virgin Islands Bureau of Internal Revenue and make any payments due to the respective jurisdictions. Irs income tax forms 2010 However, the Virgin Islands Bureau of Internal Revenue will honor an extension request that is timely filed with the IRS. Irs income tax forms 2010 Double Taxation A mutual agreement procedure exists to settle cases of double taxation between the United States and the U. Irs income tax forms 2010 S. Irs income tax forms 2010 Virgin Islands. Irs income tax forms 2010 See Double Taxation in chapter 4. 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Appeals Mediation Programs

Alternative Dispute Resolution (ADR)

Mediation is an informal, confidential, and flexible dispute resolution process in which an Appeals Officer trained in mediation techniques serves as an impartial third party facilitating negotiations between the disputing parties.


The Appeals mediators help resolve disputes by identifying the core issues, possible obstacles to settlement, and working with the parties to develop resolution strategies. The Appeals mediator has no power to render a decision or to force either party to accept a settlement. With our Fast Track Settlement program, however, the Appeals mediator may suggest settlement proposals.


Our various mediation programs are designed to serve different types of taxpayers at specific stages of the IRS examination or collection process.

 

If you’re an experienced tax practitioner and know which mediation program you’re interested in, the links in the table below will take you to pages with information, including the application process. If this is all new to you and you have a disagreement with IRS but are not sure whether mediation is right for you, please check out the Appeals Mediation Programs Online Self-Help Tool, which is designed to:

  • Help you understand when to discuss mediation with the IRS person assigned to your case
  • Help you navigate to the mediation program that best fits your needs
  • Explain each program
  • Provide you with the steps, forms and information needed to apply for each program
Type of Taxpayer Stage of IRS Process
Pre-Filing Examination Collection Appeals
Large Business and International

Compliance Assurance Process

Fast Track Settlement
 

Early Referral

 

Post Appeals Mediation

Small Business/Self-Employed  

Fast Track Settlement
 

Early Referral

Fast Track Mediation

Tax Exempt/Government Entities  

Fast Track Settlement
 

Early Referral

 

 

Page Last Reviewed or Updated: 10-Jan-2014

The Irs Income Tax Forms 2010

Irs income tax forms 2010 11. Irs income tax forms 2010   Casualties, Thefts, and Condemnations Table of Contents Introduction Topics - This chapter discusses: Useful Items - You may want to see: Casualties and TheftsDeductible losses. Irs income tax forms 2010 Nondeductible losses. Irs income tax forms 2010 Family pet. Irs income tax forms 2010 Progressive deterioration. Irs income tax forms 2010 Decline in market value of stock. Irs income tax forms 2010 Mislaid or lost property. Irs income tax forms 2010 Farming Losses How To Figure a Loss Deduction Limits on Losses of Personal-Use Property When Loss Is Deductible Proof of Loss Figuring a Gain Other Involuntary ConversionsCondemnation Irrigation Project Livestock Losses Tree Seedlings Postponing GainException. Irs income tax forms 2010 Related persons. Irs income tax forms 2010 Replacement Property Replacement Period How To Postpone Gain Disaster Area LossesWho is eligible. Irs income tax forms 2010 Covered disaster area. Irs income tax forms 2010 Reporting Gains and Losses Introduction This chapter explains the tax treatment of casualties, thefts, and condemnations. Irs income tax forms 2010 A casualty occurs when property is damaged, destroyed, or lost due to a sudden, unexpected, or unusual event. Irs income tax forms 2010 A theft occurs when property is stolen. Irs income tax forms 2010 A condemnation occurs when private property is legally taken for public use without the owner's consent. Irs income tax forms 2010 A casualty, theft, or condemnation may result in a deductible loss or taxable gain on your federal income tax return. Irs income tax forms 2010 You may have a deductible loss or a taxable gain even if only a portion of your property was affected by a casualty, theft, or condemnation. Irs income tax forms 2010 An involuntary conversion occurs when you receive money or other property as reimbursement for a casualty, theft, condemnation, disposition of property under threat of condemnation, or certain other events discussed in this chapter. Irs income tax forms 2010 If an involuntary conversion results in a gain and you buy qualified replacement property within the specified replacement period, you can postpone reporting the gain on your income tax return. Irs income tax forms 2010 For more information, see Postponing Gain , later. Irs income tax forms 2010 Topics - This chapter discusses: Casualties and thefts How to figure a loss or gain Other involuntary conversions Postponing gain Disaster area losses Reporting gains and losses Drought involving property connected with a trade or business or a transaction entered into for profit Useful Items - You may want to see: Publication 523 Selling Your Home 525 Taxable and Nontaxable Income 536 Net Operating Losses (NOLs) for Individuals, Estates, and Trusts 544 Sales and Other Dispositions of Assets 547 Casualties, Disasters, and Thefts 584 Casualty, Disaster, and Theft Loss Workbook (Personal-Use Property) 584-B Business Casualty, Disaster, and Theft Loss Workbook Form (and Instructions) Sch A (Form 1040) Itemized Deductions Sch D (Form 1040) Capital Gains and Losses Sch F (Form 1040) Profit or Loss From Farming 4684 Casualties and Thefts 4797 Sales of Business Property See chapter 16 for information about getting publications and forms. Irs income tax forms 2010 Casualties and Thefts If your property is destroyed, damaged, or stolen, you may have a deductible loss. Irs income tax forms 2010 If the insurance or other reimbursement is more than the adjusted basis of the destroyed, damaged, or stolen property, you may have a taxable gain. Irs income tax forms 2010 Casualty. Irs income tax forms 2010   A casualty is the damage, destruction, or loss of property resulting from an identifiable event that is sudden, unexpected, or unusual. Irs income tax forms 2010 A sudden event is one that is swift, not gradual or progressive. Irs income tax forms 2010 An unexpected event is one that is ordinarily unanticipated and unintended. Irs income tax forms 2010 An unusual event is one that is not a day-to-day occurrence and that is not typical of the activity in which you were engaged. Irs income tax forms 2010 Deductible losses. Irs income tax forms 2010   Deductible casualty losses can result from a number of different causes, including the following. Irs income tax forms 2010 Airplane crashes. Irs income tax forms 2010 Car, truck, or farm equipment accidents not resulting from your willful act or willful negligence. Irs income tax forms 2010 Earthquakes. Irs income tax forms 2010 Fires (but see Nondeductible losses next for exceptions). Irs income tax forms 2010 Floods. Irs income tax forms 2010 Freezing. Irs income tax forms 2010 Government-ordered demolition or relocation of a home that is unsafe to use because of a disaster as discussed under Disaster Area Losses, in Publication 547. Irs income tax forms 2010 Lightning. Irs income tax forms 2010 Storms, including hurricanes and tornadoes. Irs income tax forms 2010 Terrorist attacks. Irs income tax forms 2010 Vandalism. Irs income tax forms 2010 Volcanic eruptions. Irs income tax forms 2010 Nondeductible losses. Irs income tax forms 2010   A casualty loss is not deductible if the damage or destruction is caused by the following. Irs income tax forms 2010 Accidentally breaking articles such as glassware or china under normal conditions. Irs income tax forms 2010 A family pet (explained below). Irs income tax forms 2010 A fire if you willfully set it, or pay someone else to set it. Irs income tax forms 2010 A car, truck, or farm equipment accident if your willful negligence or willful act caused it. Irs income tax forms 2010 The same is true if the willful act or willful negligence of someone acting for you caused the accident. Irs income tax forms 2010 Progressive deterioration (explained below). Irs income tax forms 2010 Family pet. Irs income tax forms 2010   Loss of property due to damage by a family pet is not deductible as a casualty loss unless the requirements discussed above under Casualty are met. Irs income tax forms 2010 Example. Irs income tax forms 2010 You keep your horse in your yard. Irs income tax forms 2010 The ornamental fruit trees in your yard were damaged when your horse stripped the bark from them. Irs income tax forms 2010 Some of the trees were completely girdled and died. Irs income tax forms 2010 Because the damage was not unexpected or unusual, the loss is not deductible. Irs income tax forms 2010 Progressive deterioration. Irs income tax forms 2010   Loss of property due to progressive deterioration is not deductible as a casualty loss. Irs income tax forms 2010 This is because the damage results from a steadily operating cause or a normal process, rather than from a sudden event. Irs income tax forms 2010 Examples of damage due to progressive deterioration include damage from rust, corrosion, or termites. Irs income tax forms 2010 However, weather-related conditions or disease may cause another type of involuntary conversion. Irs income tax forms 2010 See Other Involuntary Conversions , later. Irs income tax forms 2010 Theft. Irs income tax forms 2010   A theft is the taking and removing of money or property with the intent to deprive the owner of it. Irs income tax forms 2010 The taking of property must be illegal under the law of the state where it occurred and it must have been done with criminal intent. Irs income tax forms 2010 You do not need to show a conviction for theft. Irs income tax forms 2010   Theft includes the taking of money or property by the following means: Blackmail, Burglary, Embezzlement, Extortion, Kidnapping for ransom, Larceny, Robbery, or Threats. Irs income tax forms 2010 The taking of money or property through fraud or misrepresentation is theft if it is illegal under state or local law. Irs income tax forms 2010 Decline in market value of stock. Irs income tax forms 2010   You cannot deduct as a theft loss the decline in market value of stock acquired on the open market for investment if the decline is caused by disclosure of accounting fraud or other illegal misconduct by the officers or directors of the corporation that issued the stock. Irs income tax forms 2010 However, you can deduct as a capital loss the loss you sustain when you sell or exchange the stock or the stock becomes completely worthless. Irs income tax forms 2010 You report a capital loss on Schedule D (Form 1040). Irs income tax forms 2010 For more information about stock sales, worthless stock, and capital losses, see chapter 4 of Publication 550. Irs income tax forms 2010 Mislaid or lost property. Irs income tax forms 2010   The simple disappearance of money or property is not a theft. Irs income tax forms 2010 However, an accidental loss or disappearance of property can qualify as a casualty if it results from an identifiable event that is sudden, unexpected, or unusual. Irs income tax forms 2010 Example. Irs income tax forms 2010 A car door is accidentally slammed on your hand, breaking the setting of your diamond ring. Irs income tax forms 2010 The diamond falls from the ring and is never found. Irs income tax forms 2010 The loss of the diamond is a casualty. Irs income tax forms 2010 Farming Losses You can deduct certain casualty or theft losses that occur in the business of farming. Irs income tax forms 2010 The following is a discussion of some losses you can deduct and some you cannot deduct. Irs income tax forms 2010 Livestock or produce bought for resale. Irs income tax forms 2010   Casualty or theft losses of livestock or produce bought for resale are deductible if you report your income on the cash method. Irs income tax forms 2010 If you report your income on an accrual method, take casualty and theft losses on property bought for resale by omitting the item from the closing inventory for the year of the loss. Irs income tax forms 2010 You cannot take a separate deduction. Irs income tax forms 2010 Livestock, plants, produce, and crops raised for sale. Irs income tax forms 2010   Losses of livestock, plants, produce, and crops raised for sale are generally not deductible if you report your income on the cash method. Irs income tax forms 2010 You have already deducted the cost of raising these items as farm expenses, so their basis is equal to zero. Irs income tax forms 2010   For plants with a preproductive period of more than 2 years, you may have a deductible loss if you have a tax basis in the plants. Irs income tax forms 2010 You usually have a tax basis if you capitalized the expenses associated with these plants under the uniform capitalization rules. Irs income tax forms 2010 The uniform capitalization rules are discussed in chapter 6. Irs income tax forms 2010   If you report your income on an accrual method, casualty or theft losses are deductible only if you included the items in your inventory at the beginning of your tax year. Irs income tax forms 2010 You get the deduction by omitting the item from your inventory at the close of your tax year. Irs income tax forms 2010 You cannot take a separate casualty or theft deduction. Irs income tax forms 2010 Income loss. Irs income tax forms 2010   A loss of future income is not deductible. Irs income tax forms 2010 Example. Irs income tax forms 2010 A severe flood destroyed your crops. Irs income tax forms 2010 Because you are a cash method taxpayer and already deducted the cost of raising the crops as farm expenses, this loss is not deductible, as explained above under Livestock, plants, produce, and crops raised for sale . Irs income tax forms 2010 You estimate that the crop loss will reduce your farm income by $25,000. Irs income tax forms 2010 This loss of future income is also not deductible. Irs income tax forms 2010 Loss of timber. Irs income tax forms 2010   If you sell timber downed as a result of a casualty, treat the proceeds from the sale as a reimbursement. Irs income tax forms 2010 If you use the proceeds to buy qualified replacement property, you can postpone reporting the gain. Irs income tax forms 2010 See Postponing Gain , later. Irs income tax forms 2010 Property used in farming. Irs income tax forms 2010   Casualty and theft losses of property used in your farm business usually result in deductible losses. Irs income tax forms 2010 If a fire or storm destroyed your barn, or you lose by casualty or theft an animal you bought for draft, breeding, dairy, or sport, you may have a deductible loss. Irs income tax forms 2010 See How To Figure a Loss , later. Irs income tax forms 2010 Raised draft, breeding, dairy, or sporting animals. Irs income tax forms 2010   Generally, losses of raised draft, breeding, dairy, or sporting animals do not result in deductible casualty or theft losses because you have no basis in the animals. Irs income tax forms 2010 However, you may have a basis in the animal and therefore may be able to claim a deduction if either of the following situations applies to you. Irs income tax forms 2010 You use inventories to determine your income and you included the animals in your inventory. Irs income tax forms 2010 You capitalized the expenses associated with the animals under the uniform capitalization rules and therefore have a tax basis in the animals subject to a casualty or theft. Irs income tax forms 2010 When you include livestock in inventory, its last inventory value is its basis. Irs income tax forms 2010 When you lose an inventoried animal held for draft, breeding, dairy, or sport by casualty or theft during the year, decrease ending inventory by the amount you included in inventory for the animal. Irs income tax forms 2010 You cannot take a separate deduction. Irs income tax forms 2010 How To Figure a Loss How you figure a deductible casualty or theft loss depends on whether the loss was to farm or personal-use property and whether the property was stolen or partly or completely destroyed. Irs income tax forms 2010 Farm property. Irs income tax forms 2010   Farm property is the property you use in your farming business. Irs income tax forms 2010 If your farm property was completely destroyed or stolen, your loss is figured as follows:      Your adjusted basis in the property     MINUS     Any salvage value     MINUS     Any insurance or other reimbursement you  receive or expect to receive      You can use the schedules in Publication 584-B to list your stolen, damaged, or destroyed business property and to figure your loss. Irs income tax forms 2010   If your farm property was partially damaged, use the steps shown under Personal-use property next to figure your casualty loss. Irs income tax forms 2010 However, the deduction limits, discussed later, do not apply to farm property. Irs income tax forms 2010 Personal-use property. Irs income tax forms 2010   Personal-use property is property used by you or your family members for personal purposes and not used in your farm business or for income-producing purposes. Irs income tax forms 2010 The following items are examples of personal-use property: Your main home. Irs income tax forms 2010 Furniture and electronics used in your main home and not used in a home office or for business purposes. Irs income tax forms 2010 Clothing and jewelry. Irs income tax forms 2010 An automobile used for nonbusiness purposes. Irs income tax forms 2010 You figure the casualty or theft loss on this property by taking the following steps. Irs income tax forms 2010 Determine your adjusted basis in the property before the casualty or theft. Irs income tax forms 2010 Determine the decrease in fair market value of the property as a result of the casualty or theft. Irs income tax forms 2010 From the smaller of the amounts you determined in (1) and (2), subtract any insurance or other reimbursement you receive or expect to receive. Irs income tax forms 2010 You must apply the deduction limits, discussed later, to determine your deductible loss. Irs income tax forms 2010    You can use Publication 584 to list your stolen or damaged personal-use property and figure your loss. Irs income tax forms 2010 It includes schedules to help you figure the loss on your home, its contents, and your motor vehicles. Irs income tax forms 2010 Adjusted basis. Irs income tax forms 2010   Adjusted basis is your basis (usually cost) increased or decreased by various events, such as improvements and casualty losses. Irs income tax forms 2010 For more information about adjusted basis, see chapter 6. Irs income tax forms 2010 Decrease in fair market value (FMV). Irs income tax forms 2010   The decrease in FMV is the difference between the property's value immediately before the casualty or theft and its value immediately afterward. Irs income tax forms 2010 FMV is defined in chapter 10 under Payments Received or Considered Received . Irs income tax forms 2010 Appraisal. Irs income tax forms 2010   To figure the decrease in FMV because of a casualty or theft, you generally need a competent appraisal. Irs income tax forms 2010 But other measures, such as the cost of cleaning up or making repairs (discussed next) can be used to establish decreases in FMV. Irs income tax forms 2010   An appraisal to determine the difference between the FMV of the property immediately before a casualty or theft and immediately afterward should be made by a competent appraiser. Irs income tax forms 2010 The appraiser must recognize the effects of any general market decline that may occur along with the casualty. Irs income tax forms 2010 This information is needed to limit any deduction to the actual loss resulting from damage to the property. Irs income tax forms 2010 Cost of cleaning up or making repairs. Irs income tax forms 2010   The cost of cleaning up after a casualty is not part of a casualty loss. Irs income tax forms 2010 Neither is the cost of repairing damaged property after a casualty. Irs income tax forms 2010 But you can use the cost of cleaning up or making repairs after a casualty as a measure of the decrease in FMV if you meet all the following conditions. Irs income tax forms 2010 The repairs are actually made. Irs income tax forms 2010 The repairs are necessary to bring the property back to its condition before the casualty. Irs income tax forms 2010 The amount spent for repairs is not excessive. Irs income tax forms 2010 The repairs fix the damage only. Irs income tax forms 2010 The value of the property after the repairs is not, due to the repairs, more than the value of the property before the casualty. Irs income tax forms 2010 Related expenses. Irs income tax forms 2010   The incidental expenses due to a casualty or theft, such as expenses for the treatment of personal injuries, temporary housing, or a rental car, are not part of your casualty or theft loss. Irs income tax forms 2010 However, they may be deductible as farm business expenses if the damaged or stolen property is farm property. Irs income tax forms 2010 Separate computations for more than one item of property. Irs income tax forms 2010   Generally, if a single casualty or theft involves more than one item of property, you must figure your loss separately for each item of property. Irs income tax forms 2010 Then combine the losses to determine your total loss. Irs income tax forms 2010    There is an exception to this rule for personal-use real property. Irs income tax forms 2010 See Exception for personal-use real property, later. Irs income tax forms 2010 Example. Irs income tax forms 2010 A fire on your farm damaged a tractor and the barn in which it was stored. Irs income tax forms 2010 The tractor had an adjusted basis of $3,300. Irs income tax forms 2010 Its FMV was $28,000 just before the fire and $10,000 immediately afterward. Irs income tax forms 2010 The barn had an adjusted basis of $28,000. Irs income tax forms 2010 Its FMV was $55,000 just before the fire and $25,000 immediately afterward. Irs income tax forms 2010 You received insurance reimbursements of $2,100 on the tractor and $26,000 on the barn. Irs income tax forms 2010 Figure your deductible casualty loss separately for the two items of property. Irs income tax forms 2010     Tractor Barn 1) Adjusted basis $3,300 $28,000 2) FMV before fire $28,000 $55,000 3) FMV after fire 10,000 25,000 4) Decrease in FMV  (line 2 − line 3) $18,000 $30,000 5) Loss (lesser of line 1 or line 4) $3,300 $28,000 6) Minus: Insurance 2,100 26,000 7) Deductible casualty loss $1,200 $2,000 8) Total deductible casualty loss $3,200 Exception for personal-use real property. Irs income tax forms 2010   In figuring a casualty loss on personal-use real property, the entire property (including any improvements, such as buildings, trees, and shrubs) is treated as one item. Irs income tax forms 2010 Figure the loss using the smaller of the following. Irs income tax forms 2010 The decrease in FMV of the entire property. Irs income tax forms 2010 The adjusted basis of the entire property. Irs income tax forms 2010 Example. Irs income tax forms 2010 You bought a farm in 1990 for $160,000. Irs income tax forms 2010 The adjusted basis of the residential part is now $128,000. Irs income tax forms 2010 In 2013, a windstorm blew down shade trees and three ornamental trees planted at a cost of $7,500 on the residential part. Irs income tax forms 2010 The adjusted basis of the residential part includes the $7,500. Irs income tax forms 2010 The fair market value (FMV) of the residential part immediately before the storm was $400,000, and $385,000 immediately after the storm. Irs income tax forms 2010 The trees were not covered by insurance. Irs income tax forms 2010 1) Adjusted basis $128,000 2) FMV before the storm $400,000 3) FMV after the storm 385,000 4) Decrease in FMV (line 2 − line 3) $15,000 5) Loss before insurance (lesser of line 1 or line 4) $15,000 6) Minus: Insurance -0- 7) Amount of loss $15,000 Insurance and other reimbursements. Irs income tax forms 2010   If you receive an insurance or other type of reimbursement, you must subtract the reimbursement when you figure your loss. Irs income tax forms 2010 You do not have a casualty or theft loss to the extent you are reimbursed. Irs income tax forms 2010   If you expect to be reimbursed for part or all of your loss, you must subtract the expected reimbursement when you figure your loss. Irs income tax forms 2010 You must reduce your loss even if you do not receive payment until a later tax year. Irs income tax forms 2010    Do not subtract from your loss any insurance payments you receive for living expenses if you lose the use of your main home or are denied access to it because of a casualty. Irs income tax forms 2010 You may have to include a portion of these payments in your income. Irs income tax forms 2010 See Insurance payments for living expenses in Publication 547 for details. Irs income tax forms 2010 Disaster relief. Irs income tax forms 2010   Food, medical supplies, and other forms of assistance you receive do not reduce your casualty loss, unless they are replacements for lost or destroyed property. Irs income tax forms 2010 Excludable cash gifts you receive also do not reduce your casualty loss if there are no limits on how you can use the money. Irs income tax forms 2010   Generally, disaster relief grants received under the Robert T. Irs income tax forms 2010 Stafford Disaster Relief and Emergency Assistance Act are not included in your income. Irs income tax forms 2010 See Federal disaster relief grants , later, under Disaster Area Losses . Irs income tax forms 2010   Qualified disaster relief payments for expenses you incurred as a result of a federally declared disaster are not taxable income to you. Irs income tax forms 2010 See Qualified disaster relief payments , later, under Disaster Area Losses . Irs income tax forms 2010 Reimbursement received after deducting loss. Irs income tax forms 2010   If you figure your casualty or theft loss using your expected reimbursement, you may have to adjust your tax return for the tax year in which you get your actual reimbursement. Irs income tax forms 2010 Actual reimbursement less than expected. Irs income tax forms 2010   If you later receive less reimbursement than you expected, include that difference as a loss with your other losses (if any) on your return for the year in which you can reasonably expect no more reimbursement. Irs income tax forms 2010 Actual reimbursement more than expected. Irs income tax forms 2010   If you later receive more reimbursement than you expected after you have claimed a deduction for the loss, you may have to include the extra reimbursement in your income for the year you receive it. Irs income tax forms 2010 However, if any part of your original deduction did not reduce your tax for the earlier year, do not include that part of the reimbursement in your income. Irs income tax forms 2010 Do not refigure your tax for the year you claimed the deduction. Irs income tax forms 2010 See Recoveries in Publication 525 to find out how much extra reimbursement to include in income. Irs income tax forms 2010 If the total of all the reimbursements you receive is more than your adjusted basis in the destroyed or stolen property, you will have a gain on the casualty or theft. Irs income tax forms 2010 See Figuring a Gain in Publication 547 for information on how to treat a gain from the reimbursement you receive because of a casualty or theft. Irs income tax forms 2010 Actual reimbursement same as expected. Irs income tax forms 2010   If you receive exactly the reimbursement you expected to receive, you do not have to include any of the reimbursement in your income and you cannot deduct any additional loss. Irs income tax forms 2010 Lump-sum reimbursement. Irs income tax forms 2010   If you have a casualty or theft loss of several assets at the same time without an allocation of reimbursement to specific assets, divide the lump-sum reimbursement among the assets according to the fair market value of each asset at the time of the loss. Irs income tax forms 2010 Figure the gain or loss separately for each asset that has a separate basis. Irs income tax forms 2010 Adjustments to basis. Irs income tax forms 2010   If you have a casualty or theft loss, you must decrease your basis in the property by any insurance or other reimbursement you receive and by any deductible loss. Irs income tax forms 2010 The result is your adjusted basis in the property. Irs income tax forms 2010 Amounts you spend on repairs to restore your property to its pre-casualty condition increase your adjusted basis. Irs income tax forms 2010 See Adjusted Basis in chapter 6 for more information. Irs income tax forms 2010 Example. Irs income tax forms 2010 You built a new silo for $25,000. Irs income tax forms 2010 This is the basis in your silo because that is the total cost you incurred to build it. Irs income tax forms 2010 During the year, a tornado damaged your silo and your allowable casualty loss deduction was $1,000. Irs income tax forms 2010 In addition, your insurance company reimbursed you $4,000 for the damage and you spent $6,000 to restore the silo to its pre-casualty condition. Irs income tax forms 2010 Your adjusted basis in the silo after the casualty is $26,000 ($25,000 - $1,000 - $4,000 + $6,000). Irs income tax forms 2010 Deduction Limits on Losses of Personal-Use Property Casualty and theft losses of property held for personal use may be deductible if you itemize deductions on Schedule A (Form 1040). Irs income tax forms 2010 There are two limits on the deduction for casualty or theft loss of personal-use property. Irs income tax forms 2010 You figure these limits on Form 4684. Irs income tax forms 2010 $100 rule. Irs income tax forms 2010   You must reduce each casualty or theft loss on personal-use property by $100. Irs income tax forms 2010 This rule applies after you have subtracted any reimbursement. Irs income tax forms 2010 10% rule. Irs income tax forms 2010   You must further reduce the total of all your casualty or theft losses on personal-use property by 10% of your adjusted gross income. Irs income tax forms 2010 Apply this rule after you reduce each loss by $100. Irs income tax forms 2010 Adjusted gross income is on line 38 of Form 1040. Irs income tax forms 2010 Example. Irs income tax forms 2010 In June, you discovered that your house had been burglarized. Irs income tax forms 2010 Your loss after insurance reimbursement was $2,000. Irs income tax forms 2010 Your adjusted gross income for the year you discovered the burglary is $57,000. Irs income tax forms 2010 Figure your theft loss deduction as follows: 1. Irs income tax forms 2010 Loss after insurance $2,000 2. Irs income tax forms 2010 Subtract $100 100 3. Irs income tax forms 2010 Loss after $100 rule $1,900 4. Irs income tax forms 2010 Subtract 10% (. Irs income tax forms 2010 10) × $57,000 AGI $5,700 5. Irs income tax forms 2010 Theft loss deduction -0- You do not have a theft loss deduction because your loss ($1,900) is less than 10% of your adjusted gross income ($5,700). Irs income tax forms 2010    If you have a casualty or theft gain in addition to a loss, you will have to make a special computation before you figure your 10% limit. Irs income tax forms 2010 See 10% Rule in Publication 547. Irs income tax forms 2010 When Loss Is Deductible Generally, you can deduct casualty losses that are not reimbursable only in the tax year in which they occur. Irs income tax forms 2010 You generally can deduct theft losses that are not reimbursable only in the year you discover your property was stolen. Irs income tax forms 2010 However, losses in federally declared disaster areas are subject to different rules. Irs income tax forms 2010 See Disaster Area Losses , later, for an exception. Irs income tax forms 2010 If you are not sure whether part of your casualty or theft loss will be reimbursed, do not deduct that part until the tax year when you become reasonably certain that it will not be reimbursed. Irs income tax forms 2010 Leased property. Irs income tax forms 2010   If you lease property from someone else, you can deduct a loss on the property in the year your liability for the loss is fixed. Irs income tax forms 2010 This is true even if the loss occurred or the liability was paid in a different year. Irs income tax forms 2010 You are not entitled to a deduction until your liability under the lease can be determined with reasonable accuracy. Irs income tax forms 2010 Your liability can be determined when a claim for recovery is settled, adjudicated, or abandoned. Irs income tax forms 2010 Example. Irs income tax forms 2010 Robert leased a tractor from First Implement, Inc. Irs income tax forms 2010 , for use in his farm business. Irs income tax forms 2010 The tractor was destroyed by a tornado in June 2012. Irs income tax forms 2010 The loss was not insured. Irs income tax forms 2010 First Implement billed Robert for the fair market value of the tractor on the date of the loss. Irs income tax forms 2010 Robert disagreed with the bill and refused to pay it. Irs income tax forms 2010 First Implement later filed suit in court against Robert. Irs income tax forms 2010 In 2013, Robert and First Implement agreed to settle the suit for $20,000, and the court entered a judgment in favor of First Implement. Irs income tax forms 2010 Robert paid $20,000 in June 2013. Irs income tax forms 2010 He can claim the $20,000 as a loss on his 2013 tax return. Irs income tax forms 2010 Net operating loss (NOL). Irs income tax forms 2010   If your deductions, including casualty or theft loss deductions, are more than your income for the year, you may have an NOL. Irs income tax forms 2010 An NOL can be carried back or carried forward and deducted from income in other years. Irs income tax forms 2010 See Publication 536 for more information on NOLs. Irs income tax forms 2010 Proof of Loss To deduct a casualty or theft loss, you must be able to prove that there was a casualty or theft. Irs income tax forms 2010 You must have records to support the amount you claim for the loss. Irs income tax forms 2010 Casualty loss proof. Irs income tax forms 2010   For a casualty loss, your records should show all the following information. Irs income tax forms 2010 The type of casualty (car accident, fire, storm, etc. Irs income tax forms 2010 ) and when it occurred. Irs income tax forms 2010 That the loss was a direct result of the casualty. Irs income tax forms 2010 That you were the owner of the property or, if you leased the property from someone else, that you were contractually liable to the owner for the damage. Irs income tax forms 2010 Whether a claim for reimbursement exists for which there is a reasonable expectation of recovery. Irs income tax forms 2010 Theft loss proof. Irs income tax forms 2010   For a theft loss, your records should show all the following information. Irs income tax forms 2010 When you discovered your property was missing. Irs income tax forms 2010 That your property was stolen. Irs income tax forms 2010 That you were the owner of the property. Irs income tax forms 2010 Whether a claim for reimbursement exists for which there is a reasonable expectation of recovery. Irs income tax forms 2010 Figuring a Gain A casualty or theft may result in a taxable gain. Irs income tax forms 2010 If you receive an insurance payment or other reimbursement that is more than your adjusted basis in the destroyed, damaged, or stolen property, you have a gain from the casualty or theft. Irs income tax forms 2010 You generally report your gain as income in the year you receive the reimbursement. Irs income tax forms 2010 However, depending on the type of property you receive, you may not have to report your gain. Irs income tax forms 2010 See Postponing Gain , later. Irs income tax forms 2010 Your gain is figured as follows: The amount you receive, minus Your adjusted basis in the property at the time of the casualty or theft. Irs income tax forms 2010 Even if the decrease in FMV of your property is smaller than the adjusted basis of your property, use your adjusted basis to figure the gain. Irs income tax forms 2010 Amount you receive. Irs income tax forms 2010   The amount you receive includes any money plus the value of any property you receive, minus any expenses you have in obtaining reimbursement. Irs income tax forms 2010 It also includes any reimbursement used to pay off a mortgage or other lien on the damaged, destroyed, or stolen property. Irs income tax forms 2010 Example. Irs income tax forms 2010 A tornado severely damaged your barn. Irs income tax forms 2010 The adjusted basis of the barn was $25,000. Irs income tax forms 2010 Your insurance company reimbursed you $40,000 for the damaged barn. Irs income tax forms 2010 However, you had legal expenses of $2,000 to collect that insurance. Irs income tax forms 2010 Your insurance minus your expenses to collect the insurance is more than your adjusted basis in the barn, so you have a gain. Irs income tax forms 2010 1) Insurance reimbursement $40,000 2) Legal expenses 2,000 3) Amount received  (line 1 − line 2) $38,000 4) Adjusted basis 25,000 5) Gain on casualty (line 3 − line 4) $13,000 Other Involuntary Conversions In addition to casualties and thefts, other events cause involuntary conversions of property. Irs income tax forms 2010 Some of these are discussed in the following paragraphs. Irs income tax forms 2010 Gain or loss from an involuntary conversion of your property is usually recognized for tax purposes. Irs income tax forms 2010 You report the gain or deduct the loss on your tax return for the year you realize it. Irs income tax forms 2010 However, depending on the type of property you receive, you may not have to report your gain on the involuntary conversion. Irs income tax forms 2010 See Postponing Gain , later. Irs income tax forms 2010 Condemnation Condemnation is the process by which private property is legally taken for public use without the owner's consent. Irs income tax forms 2010 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 property. Irs income tax forms 2010 The owner receives a condemnation award (money or property) in exchange for the property taken. Irs income tax forms 2010 A condemnation is a forced sale, the owner being the seller and the condemning authority being the buyer. Irs income tax forms 2010 Threat of condemnation. Irs income tax forms 2010   Treat the sale of your property under threat of condemnation as a condemnation, provided you have reasonable grounds to believe that your property will be condemned. Irs income tax forms 2010 Main home condemned. Irs income tax forms 2010   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. Irs income tax forms 2010 For information on this exclusion, see Publication 523. Irs income tax forms 2010 If your gain is more than the amount you can exclude, but you buy replacement property, you may be able to postpone reporting the excess gain. Irs income tax forms 2010 See Postponing Gain , later. Irs income tax forms 2010 (You cannot deduct a loss from the condemnation of your main home. Irs income tax forms 2010 ) More information. Irs income tax forms 2010   For information on how to figure the gain or loss on condemned property, see chapter 1 in Publication 544. Irs income tax forms 2010 Also see Postponing Gain , later, to find out if you can postpone reporting the gain. Irs income tax forms 2010 Irrigation Project The sale or other disposition of property located within an irrigation project to conform to the acreage limits of federal reclamation laws is an involuntary conversion. Irs income tax forms 2010 Livestock Losses Diseased livestock. Irs income tax forms 2010   If your livestock die from disease, or are destroyed, sold, or exchanged because of disease, even though the disease is not of epidemic proportions, treat these occurrences as involuntary conversions. Irs income tax forms 2010 If the livestock were raised or purchased for resale, follow the rules for livestock discussed earlier under Farming Losses . Irs income tax forms 2010 Otherwise, figure the gain or loss from these conversions using the rules discussed under Determining Gain or Loss in chapter 8. Irs income tax forms 2010 If you replace the livestock, you may be able to postpone reporting the gain. Irs income tax forms 2010 See Postponing Gain below. Irs income tax forms 2010 Reporting dispositions of diseased livestock. Irs income tax forms 2010   If you choose to postpone reporting gain on the disposition of diseased livestock, you must attach a statement to your return explaining that the livestock were disposed of because of disease. Irs income tax forms 2010 You must also include other information on this statement. Irs income tax forms 2010 See How To Postpone Gain , later, under Postponing Gain . Irs income tax forms 2010 Weather-related sales of livestock. Irs income tax forms 2010   If you sell or exchange livestock (other than poultry) held for draft, breeding, or dairy purposes solely because of drought, flood, or other weather-related conditions, treat the sale or exchange as an involuntary conversion. Irs income tax forms 2010 Only livestock sold in excess of the number you normally would sell under usual business practice, in the absence of weather-related conditions, are considered involuntary conversions. Irs income tax forms 2010 Figure the gain or loss using the rules discussed under Determining Gain or Loss in chapter 8. Irs income tax forms 2010 If you replace the livestock, you may be able to postpone reporting the gain. Irs income tax forms 2010 See Postponing Gain below. Irs income tax forms 2010 Example. Irs income tax forms 2010 It is your usual business practice to sell five of your dairy animals during the year. Irs income tax forms 2010 This year you sold 20 dairy animals because of drought. Irs income tax forms 2010 The sale of 15 animals is treated as an involuntary conversion. Irs income tax forms 2010    If you do not replace the livestock, you may be able to report the gain in the following year's income. Irs income tax forms 2010 This rule also applies to other livestock (including poultry). Irs income tax forms 2010 See Sales Caused by Weather-Related Conditions in chapter 3. Irs income tax forms 2010 Tree Seedlings If, because of an abnormal drought, the failure of planted tree seedlings is greater than normally anticipated, you may have a deductible loss. Irs income tax forms 2010 Treat the loss as a loss from an involuntary conversion. Irs income tax forms 2010 The loss equals the previously capitalized reforestation costs you had to duplicate on replanting. Irs income tax forms 2010 You deduct the loss on the return for the year the seedlings died. Irs income tax forms 2010 Postponing Gain Do not report a gain if you receive reimbursement in the form of property similar or related in service or use to the destroyed, stolen, or other involuntarily converted property. Irs income tax forms 2010 Your basis in the new property is generally the same as your adjusted basis in the property it replaces. Irs income tax forms 2010 You must ordinarily report the gain on your stolen, destroyed, or other involuntarily converted property if you receive money or unlike property as reimbursement. Irs income tax forms 2010 However, you can choose to postpone reporting the gain if you purchase replacement property similar or related in service or use to your destroyed, stolen, or other involuntarily converted property within a specific replacement period. Irs income tax forms 2010 If you have a gain on damaged property, you can postpone reporting the gain if you spend the reimbursement to restore the property. Irs income tax forms 2010 To postpone reporting all the gain, the cost of your replacement property must be at least as much as the reimbursement you receive. Irs income tax forms 2010 If the cost of the replacement property is less than the reimbursement, you must include the gain in your income up to the amount of the unspent reimbursement. Irs income tax forms 2010 Example 1. Irs income tax forms 2010 In 1985, you constructed a barn to store farm equipment at a cost of $20,000. Irs income tax forms 2010 In 1987, you added a silo to the barn at a cost of $15,000 to store grain. Irs income tax forms 2010 In May of this year, the property was worth $100,000. Irs income tax forms 2010 In June the barn and silo were destroyed by a tornado. Irs income tax forms 2010 At the time of the tornado, you had an adjusted basis of $0 in the property. Irs income tax forms 2010 You received $85,000 from the insurance company. Irs income tax forms 2010 You had a gain of $85,000 ($85,000 – $0). Irs income tax forms 2010 You spent $80,000 to rebuild the barn and silo. Irs income tax forms 2010 Since this is less than the insurance proceeds received, you must include $5,000 ($85,000 – $80,000) in your income. Irs income tax forms 2010 Example 2. Irs income tax forms 2010 In 1970, you bought a cabin in the mountains for your personal use at a cost of $18,000. Irs income tax forms 2010 You made no further improvements or additions to it. Irs income tax forms 2010 When a storm destroyed the cabin this January, the cabin was worth $250,000. Irs income tax forms 2010 You received $146,000 from the insurance company in March. Irs income tax forms 2010 You had a gain of $128,000 ($146,000 − $18,000). Irs income tax forms 2010 You spent $144,000 to rebuild the cabin. Irs income tax forms 2010 Since this is less than the insurance proceeds received, you must include $2,000 ($146,000 − $144,000) in your income. Irs income tax forms 2010 Buying replacement property from a related person. Irs income tax forms 2010   You cannot postpone reporting a gain from a casualty, theft, or other involuntary conversion if you buy the replacement property from a related person (discussed later). Irs income tax forms 2010 This rule applies to the following taxpayers. Irs income tax forms 2010 C corporations. Irs income tax forms 2010 Partnerships in which more than 50% of the capital or profits interest is owned by C corporations. Irs income tax forms 2010 Individuals, partnerships (other than those in (2) above), and S corporations if the total realized gain for the tax year on all involuntarily converted properties on which there are realized gains is more than $100,000. Irs income tax forms 2010 For involuntary conversions described in (3) above, gains cannot be offset by any losses when determining whether the total gain is more than $100,000. Irs income tax forms 2010 If the property is owned by a partnership, the $100,000 limit applies to the partnership and each partner. Irs income tax forms 2010 If the property is owned by an S corporation, the $100,000 limit applies to the S corporation and each shareholder. Irs income tax forms 2010 Exception. Irs income tax forms 2010   This rule does not apply if the related person acquired the property from an unrelated person within the period of time allowed for replacing the involuntarily converted property. Irs income tax forms 2010 Related persons. Irs income tax forms 2010   Under this rule, related persons include, for example, a parent and child, a brother and sister, a corporation and an individual who owns more than 50% of its outstanding stock, and two partnerships in which the same C corporations own more than 50% of the capital or profits interests. Irs income tax forms 2010 For more information on related persons, see Nondeductible Loss under Sales and Exchanges Between Related Persons in chapter 2 of Publication 544. Irs income tax forms 2010 Death of a taxpayer. Irs income tax forms 2010   If a taxpayer dies after having a gain, but before buying replacement property, the gain must be reported for the year in which the decedent realized the gain. Irs income tax forms 2010 The executor of the estate or the person succeeding to the funds from the involuntary conversion cannot postpone reporting the gain by buying replacement property. Irs income tax forms 2010 Replacement Property You must buy replacement property for the specific purpose of replacing your property. Irs income tax forms 2010 Your replacement property must be similar or related in service or use to the property it replaces. Irs income tax forms 2010 You do not have to use the same funds you receive as reimbursement for your old property to acquire the replacement property. Irs income tax forms 2010 If you spend the money you receive for other purposes, and borrow money to buy replacement property, you can still choose to postpone reporting the gain if you meet the other requirements. Irs income tax forms 2010 Property you acquire by gift or inheritance does not qualify as replacement property. Irs income tax forms 2010 Owner-user. Irs income tax forms 2010   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. Irs income tax forms 2010 Examples of property that functions in the same way as the property it replaces are a home that replaces another home, a dairy cow that replaces another dairy cow, and farm land that replaces other farm land. Irs income tax forms 2010 A grinding mill that replaces a tractor does not qualify. Irs income tax forms 2010 Neither does a breeding or draft animal that replaces a dairy cow. Irs income tax forms 2010 Soil or other environmental contamination. Irs income tax forms 2010   If, because of soil or other environmental contamination, it is not feasible for you to reinvest your insurance money or other proceeds from destroyed or damaged livestock in property similar or related in service or use to the livestock, you can treat other property (including real property) used for farming purposes, as property similar or related in service or use to the destroyed or damaged livestock. Irs income tax forms 2010 Weather-related conditions. Irs income tax forms 2010   If, because of drought, flood, or other weather-related conditions, it is not feasible for you to reinvest the insurance money or other proceeds in property similar or related in service or use to the livestock, you can treat other property (excluding real property) used for farming purposes, as property similar or related in service or use to the livestock you disposed of. Irs income tax forms 2010 Example. Irs income tax forms 2010 Each year you normally sell 25 cows from your beef herd. Irs income tax forms 2010 However, this year you had to sell 50 cows. Irs income tax forms 2010 This is because a severe drought significantly reduced the amount of hay and pasture yield needed to feed your herd for the rest of the year. Irs income tax forms 2010 Because, as a result of the severe drought, it is not feasible for you to use the proceeds from selling the extra cows to buy new cows, you can treat other property (excluding real property) used for farming purposes, as property similar or related in service or use to the cows you sold. Irs income tax forms 2010 Standing crop destroyed by casualty. Irs income tax forms 2010   If a storm or other casualty destroyed your standing crop and you use the insurance money to acquire either another standing crop or a harvested crop, this purchase qualifies as replacement property. Irs income tax forms 2010 The costs of planting and raising a new crop qualify as replacement costs for the destroyed crop only if you use the crop method of accounting (discussed in chapter 2). Irs income tax forms 2010 In that case, the costs of bringing the new crop to the same level of maturity as the destroyed crop qualify as replacement costs to the extent they are incurred during the replacement period. Irs income tax forms 2010 Timber loss. Irs income tax forms 2010   Standing timber you bought with the proceeds from the sale of timber downed as a result of a casualty, such as high winds, earthquakes, or volcanic eruptions, qualifies as replacement property. Irs income tax forms 2010 If you bought the standing timber within the replacement period, you can postpone reporting the gain. Irs income tax forms 2010 Business or income-producing property located in a federally declared disaster area. Irs income tax forms 2010   If your destroyed business or income-producing property was located in a federally declared disaster area, any tangible replacement property you acquire for use in any business is treated as similar or related in service or use to the destroyed property. Irs income tax forms 2010 For more information, see Disaster Area Losses in Publication 547. Irs income tax forms 2010 Substituting replacement property. Irs income tax forms 2010   Once you have acquired qualified replacement property that you designate as replacement property in a statement attached to your tax return, you cannot substitute other qualified replacement property. Irs income tax forms 2010 This is true even if you acquire the other property within the replacement period. Irs income tax forms 2010 However, if you discover that the original replacement property was not qualified replacement property, you can, within the replacement period, substitute the new qualified replacement property. Irs income tax forms 2010 Basis of replacement property. Irs income tax forms 2010   You must reduce the basis of your replacement property (its cost) by the amount of postponed gain. Irs income tax forms 2010 In this way, tax on the gain is postponed until you dispose of the replacement property. Irs income tax forms 2010 Replacement Period To postpone reporting your gain, you must buy replacement property within a specified period of time. Irs income tax forms 2010 This is the replacement period. Irs income tax forms 2010 The replacement period begins on the date your property was damaged, destroyed, stolen, sold, or exchanged. Irs income tax forms 2010 The replacement period generally ends 2 years after the close of the first tax year in which you realize any part of your gain from the involuntary conversion. Irs income tax forms 2010 Example. Irs income tax forms 2010 You are a calendar year taxpayer. Irs income tax forms 2010 While you were on vacation, farm equipment that cost $2,200 was stolen from your farm. Irs income tax forms 2010 You discovered the theft when you returned to your farm on November 11, 2012. Irs income tax forms 2010 Your insurance company investigated the theft and did not settle your claim until January 5, 2013, when they paid you $3,000. Irs income tax forms 2010 You first realized a gain from the reimbursement for the theft during 2013, so you have until December 31, 2015, to replace the property. Irs income tax forms 2010 Main home in disaster area. Irs income tax forms 2010   For your main home (or its contents) located in a federally declared disaster area, 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 involuntary conversion. Irs income tax forms 2010 See Disaster Area Losses , later. Irs income tax forms 2010 Property in the Midwestern disaster areas. Irs income tax forms 2010   For property located in the Midwestern disaster areas (defined in Table 4 in the 2008 Publication 547) that was destroyed, damaged, stolen, or condemned, the replacement period ends 5 years after the close of the first tax year in which any part of your gain is realized. Irs income tax forms 2010 This 5-year replacement period applies only if substantially all of the use of the replacement property is in the Midwestern disaster areas. Irs income tax forms 2010 Property in the Kansas disaster area. Irs income tax forms 2010   For property located in the Kansas disaster area that was destroyed, damaged, stolen, or condemned after May 3, 2007, as a result of the Kansas storms and tornadoes, the replacement period ends 5 years after the close of the first tax year in which any part of your gain is realized. Irs income tax forms 2010 This 5-year replacement period applies only if substantially all of the use of the replacement property is in the Kansas disaster area. Irs income tax forms 2010 Property in the Hurricane Katrina disaster area. Irs income tax forms 2010   For property located in the Hurricane Katrina disaster area that was destroyed, damaged, stolen, or condemned after August 24, 2005, as a result of Hurricane Katrina, the replacement period ends 5 years after the close of the first tax year in which any part of your gain is realized. Irs income tax forms 2010 This 5-year replacement period applies only if substantially all of the use of the replacement property is in the Hurricane Katrina disaster area. Irs income tax forms 2010 Weather-related sales of livestock in an area eligible for federal assistance. Irs income tax forms 2010   For the sale or exchange of livestock 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. Irs income tax forms 2010 The IRS may extend the replacement period on a regional basis if the weather-related conditions continue for longer than 3 years. Irs income tax forms 2010   For information on extensions of the replacement period because of persistent drought, see Notice 2006-82, 2006-39 I. Irs income tax forms 2010 R. Irs income tax forms 2010 B. Irs income tax forms 2010 529, available at  www. Irs income tax forms 2010 irs. Irs income tax forms 2010 gov/irb/2006-39_IRB/ar11. Irs income tax forms 2010 html. Irs income tax forms 2010 For a list of counties for which exceptional, extreme, or severe drought was reported during the 12 months ending August 31, 2013, see Notice 2013-62, available at IRS. Irs income tax forms 2010 gov. Irs income tax forms 2010 Condemnation. Irs income tax forms 2010   The replacement period for a condemnation begins on the earlier of the following dates. Irs income tax forms 2010 The date on which you disposed of the condemned property. Irs income tax forms 2010 The date on which the threat of condemnation began. Irs income tax forms 2010 The replacement period generally ends 2 years after the close of the first tax year in which any part of the gain on the condemnation is realized. Irs income tax forms 2010 But see Main home in disaster area , Property in the Midwestern disaster areas , Property in the Kansas disaster area , and Property in the Hurricane Katrina disaster area , earlier, for exceptions. Irs income tax forms 2010 Business or investment real property. Irs income tax forms 2010   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 close of the first tax year in which any part of the gain on the condemnation is realized. Irs income tax forms 2010 Extension. Irs income tax forms 2010   You can apply for an extension of the replacement period. Irs income tax forms 2010 Send your written application to the Internal Revenue Service Center where you file your tax return. Irs income tax forms 2010 See your tax return instructions for the address. Irs income tax forms 2010 Include all the details about your need for an extension. Irs income tax forms 2010 Make your application before the end of the replacement period. Irs income tax forms 2010 However, you can file an application within a reasonable time after the replacement period ends if you can show a good reason for the delay. Irs income tax forms 2010 You will get an extension of the replacement period if you can show reasonable cause for not making the replacement within the regular period. Irs income tax forms 2010 How To Postpone Gain You postpone reporting your gain by reporting your choice on your tax return for the year you have the gain. Irs income tax forms 2010 You have the gain in the year you receive insurance proceeds or other reimbursements that result in a gain. Irs income tax forms 2010 Required statement. Irs income tax forms 2010   You should attach a statement to your return for the year you have the gain. Irs income tax forms 2010 This statement should include all the following information. Irs income tax forms 2010 The date and details of the casualty, theft, or other involuntary conversion. Irs income tax forms 2010 The insurance or other reimbursement you received. Irs income tax forms 2010 How you figured the gain. Irs income tax forms 2010 Replacement property acquired before return filed. Irs income tax forms 2010   If you acquire replacement property before you file your return for the year you have the gain, your statement should also include detailed information about all the following items. Irs income tax forms 2010 The replacement property. Irs income tax forms 2010 The postponed gain. Irs income tax forms 2010 The basis adjustment that reflects the postponed gain. Irs income tax forms 2010 Any gain you are reporting as income. Irs income tax forms 2010 Replacement property acquired after return filed. Irs income tax forms 2010   If you intend to buy replacement property after you file your return for the year you realize gain, your statement should also say that you are choosing to replace the property within the required replacement period. Irs income tax forms 2010   You should then attach another statement to your return for the year in which you buy the replacement property. Irs income tax forms 2010 This statement should contain detailed information on the replacement property. Irs income tax forms 2010 If you acquire part of your replacement property in one year and part in another year, you must attach a statement to each year's return. Irs income tax forms 2010 Include in the statement detailed information on the replacement property bought in that year. Irs income tax forms 2010 Reporting weather-related sales of livestock. Irs income tax forms 2010   If you choose to postpone reporting the gain on weather-related sales or exchanges of livestock, show all the following information on a statement attached to your return for the tax year in which you first realize any of the gain. Irs income tax forms 2010 Evidence of the weather-related conditions that forced the sale or exchange of the livestock. Irs income tax forms 2010 The gain realized on the sale or exchange. Irs income tax forms 2010 The number and kind of livestock sold or exchanged. Irs income tax forms 2010 The number of livestock of each kind you would have sold or exchanged under your usual business practice. Irs income tax forms 2010   Show all the following information and the preceding information on the return for the year in which you replace the livestock. Irs income tax forms 2010 The dates you bought the replacement property. Irs income tax forms 2010 The cost of the replacement property. Irs income tax forms 2010 Description of the replacement property (for example, the number and kind of the replacement livestock). Irs income tax forms 2010 Amended return. Irs income tax forms 2010   You must file an amended return (Form 1040X) for the tax year of the gain in either of the following situations. Irs income tax forms 2010 You do not acquire replacement property within the replacement period, plus extensions. Irs income tax forms 2010 On this amended return, you must report the gain and pay any additional tax due. Irs income tax forms 2010 You acquire replacement property within the required replacement period, plus extensions, but at a cost less than the amount you receive from the casualty, theft, or other involuntary conversion. Irs income tax forms 2010 On this amended return, you must report the part of the gain that cannot be postponed and pay any additional tax due. Irs income tax forms 2010 Disaster Area Losses Special rules apply to federally declared disaster area losses. Irs income tax forms 2010 A federally declared disaster is a disaster that occurred in an area declared by the President to be eligible for federal assistance under the Robert T. Irs income tax forms 2010 Stafford Disaster Relief and Emergency Assistance Act. Irs income tax forms 2010 It includes a major disaster or emergency declaration under the act. Irs income tax forms 2010 A list of the areas warranting public or individual assistance (or both) under the Act is available at the Federal Emergency Management Agency (FEMA) web site at www. Irs income tax forms 2010 fema. Irs income tax forms 2010 gov. Irs income tax forms 2010 This part discusses the special rules for when to deduct a disaster area loss and what tax deadlines may be postponed. Irs income tax forms 2010 For other special rules, see Disaster Area Losses in Publication 547. Irs income tax forms 2010 When to deduct the loss. Irs income tax forms 2010   You generally must deduct a casualty loss in the year it occurred. Irs income tax forms 2010 However, if you have a deductible loss from a disaster that occurred in an area warranting public or individual assistance (or both), you can choose to deduct that loss on your return or amended return for the tax year immediately preceding the tax year in which the disaster happened. Irs income tax forms 2010 If you make this choice, the loss is treated as having occurred in the preceding year. Irs income tax forms 2010    Claiming a qualifying disaster loss on the previous year's return may result in a lower tax for that year, often producing or increasing a cash refund. Irs income tax forms 2010   You must make the choice to take your casualty loss for the disaster in the preceding year by the later of the following dates. Irs income tax forms 2010 The due date (without extensions) for filing your tax return for the tax year in which the disaster actually occurred. Irs income tax forms 2010 The due date (with extensions) for the return for the preceding tax year. Irs income tax forms 2010 Federal disaster relief grants. Irs income tax forms 2010   Do not include post-disaster relief grants received under the Robert T. Irs income tax forms 2010 Stafford Disaster Relief and Emergency Assistance Act in your income if the grant payments are made to help you meet necessary expenses or serious needs for medical, dental, housing, personal property, transportation, or funeral expenses. Irs income tax forms 2010 Do not deduct casualty losses or medical expenses to the extent they are specifically reimbursed by these disaster relief grants. Irs income tax forms 2010 If the casualty loss was specifically reimbursed by the grant and you received the grant after the year in which you deducted the casualty loss, see Reimbursement received after deducting loss , earlier. Irs income tax forms 2010 Unemployment assistance payments under the Act are taxable unemployment compensation. Irs income tax forms 2010 Qualified disaster relief payments. Irs income tax forms 2010   Qualified disaster relief payments are not included in the income of individuals to the extent any expenses compensated by these payments are not otherwise compensated for by insurance or other reimbursement. Irs income tax forms 2010 These payments are not subject to income tax, self-employment tax, or employment taxes (social security, Medicare, and federal unemployment taxes). Irs income tax forms 2010 No withholding applies to these payments. Irs income tax forms 2010   Qualified disaster relief payments include payments you receive (regardless of the source) for the following expenses. Irs income tax forms 2010 Reasonable and necessary personal, family, living, or funeral expenses incurred as a result of a federally declared disaster. Irs income tax forms 2010 Reasonable and necessary expenses incurred for the repair or rehabilitation of a personal residence due to a federally declared disaster. Irs income tax forms 2010 (A personal residence can be a rented residence or one you own. Irs income tax forms 2010 ) Reasonable and necessary expenses incurred for the repair or replacement of the contents of a personal residence due to a federally declared disaster. Irs income tax forms 2010   Qualified disaster relief payments include amounts paid by a federal, state, or local government in connection with a federally declared disaster to individuals affected by the disaster. Irs income tax forms 2010    Qualified disaster relief payments do not include: Payments for expenses otherwise paid for by insurance or other reimbursements, or Income replacement payments, such as payments of lost wages, lost business income, or unemployment compensation. Irs income tax forms 2010 Qualified disaster mitigation payments. Irs income tax forms 2010   Qualified disaster mitigation payments made under the Robert T. Irs income tax forms 2010 Stafford Disaster Relief and Emergency Assistance Act or the National Flood Insurance Act (as in effect on April 15, 2005) are not included in income. Irs income tax forms 2010 These are payments you, as a property owner, receive to reduce the risk of future damage to your property. Irs income tax forms 2010 You cannot increase your basis in property, or take a deduction or credit, for expenditures made with respect to those payments. Irs income tax forms 2010 Sale of property under hazard mitigation program. Irs income tax forms 2010   Generally, if you sell or otherwise transfer property, you must recognize any gain or loss for tax purposes unless the property is your main home. Irs income tax forms 2010 You report the gain or deduct the loss on your tax return for the year you realize it. Irs income tax forms 2010 (You cannot deduct a loss on personal-use property unless the loss resulted from a casualty, as discussed earlier. Irs income tax forms 2010 ) However, if you sell or otherwise transfer property to the Federal Government, a state or local government, or an Indian tribal government under a hazard mitigation program, you can choose to postpone reporting the gain if you buy qualifying replacement property within a certain period of time. Irs income tax forms 2010 See Postponing Gain , earlier, for the rules that apply. Irs income tax forms 2010 Other federal assistance programs. Irs income tax forms 2010    For more information about other federal assistance programs, see Crop Insurance and Crop Disaster Payments and Feed Assistance and Payments in chapter 3 earlier. Irs income tax forms 2010 Postponed tax deadlines. Irs income tax forms 2010   The IRS may postpone for up to 1 year certain tax deadlines of taxpayers who are affected by a federally declared disaster. Irs income tax forms 2010 The tax deadlines the IRS may postpone include those for filing income, excise, and employment tax returns, paying income, excise, and employment taxes, and making contributions to a traditional IRA or Roth IRA. Irs income tax forms 2010   If any tax deadline is postponed, the IRS will publicize the postponement in your area and publish a news release, revenue ruling, revenue procedure, notice, announcement, or other guidance in the Internal Revenue Bulletin (IRB). Irs income tax forms 2010 Go to http://www. Irs income tax forms 2010 irs. Irs income tax forms 2010 gov/uac/Tax-Relief-in-Disaster-Situations to find out if a tax deadline has been postponed for your area. Irs income tax forms 2010 Who is eligible. Irs income tax forms 2010   If the IRS postpones a tax deadline, the following taxpayers are eligible for the postponement. Irs income tax forms 2010 Any individual whose main home is located in a covered disaster area (defined next). Irs income tax forms 2010 Any business entity or sole proprietor whose principal place of business is located in a covered disaster area. Irs income tax forms 2010 Any individual who is a relief worker affiliated with a recognized government or philanthropic organization and who is assisting in a covered disaster area. Irs income tax forms 2010 Any individual, business entity, or sole proprietorship whose records are needed to meet a postponed tax deadline, provided those records are maintained in a covered disaster area. Irs income tax forms 2010 The main home or principal place of business does not have to be located in the covered disaster area. Irs income tax forms 2010 Any estate or trust that has tax records necessary to meet a postponed tax deadline, provided those records are maintained in a covered disaster area. Irs income tax forms 2010 The spouse on a joint return with a taxpayer who is eligible for postponements. Irs income tax forms 2010 Any individual, business entity, or sole proprietorship not located in a covered disaster area, but whose necessary records to meet a postponed tax deadline are located in the covered disaster area. Irs income tax forms 2010 Any individual visiting the covered disaster area who was killed or injured as a result of the disaster. Irs income tax forms 2010 Any other person determined by the IRS to be affected by a federally declared disaster. Irs income tax forms 2010 Covered disaster area. Irs income tax forms 2010   This is an area of a federally declared disaster area in which the IRS has decided to postpone tax deadlines for up to 1 year. Irs income tax forms 2010 Abatement of interest and penalties. Irs income tax forms 2010   The IRS may abate the interest and penalties on the underpaid income tax for the length of any postponement of tax deadlines. Irs income tax forms 2010 Reporting Gains and Losses You will have to file one or more of the following forms to report your gains or losses from involuntary conversions. Irs income tax forms 2010 Form 4684. Irs income tax forms 2010   Use this form to report your gains and losses from casualties and thefts. Irs income tax forms 2010 Form 4797. Irs income tax forms 2010   Use this form to report involuntary conversions (other than from casualty or theft) of property used in your trade or business and capital assets held in connection with a trade or business or a transaction entered into for profit. Irs income tax forms 2010 Also use this form if you have a gain from a casualty or theft on trade, business or income-producing property held for more than 1 year and you have to recapture some or all of your gain as ordinary income. Irs income tax forms 2010 Form 8949. Irs income tax forms 2010   Use this form to report gain from an involuntary conversion (other than from casualty or theft) of personal-use property. Irs income tax forms 2010 Schedule A (Form 1040). Irs income tax forms 2010   Use this form to deduct your losses from casualties and thefts of personal-use property and income-producing property, that you reported on Form 4684. Irs income tax forms 2010 Schedule D (Form 1040). Irs income tax forms 2010   Use this form to carry over the following gains. Irs income tax forms 2010 Net gain shown on Form 4797 from an involuntary conversion of business property held for more than 1 year. Irs income tax forms 2010 Net gain shown on Form 4684 from the casualty or theft of personal-use property. Irs income tax forms 2010    Also use this form to figure the overall gain or loss from transactions reported on Form 8949. Irs income tax forms 2010 Schedule F (Form 1040). Irs income tax forms 2010   Use this form to deduct your losses from casualty or theft of livestock or produce bought for sale under Other expenses in Part II, line 32, if you use the cash method of accounting and have not otherwise deducted these losses. Irs income tax forms 2010 Prev  Up  Next   Home   More Online Publications