File your Taxes for Free!
  • Get your maximum refund*
  • 100% accurate calculations guaranteed*

TurboTax Federal Free Edition - File Taxes Online

Don't let filing your taxes get you down! We'll help make it as easy as possible. With e-file and direct deposit, there's no faster way to get your refund!

Approved TurboTax Affiliate Site. TurboTax and TurboTax Online, among others, are registered trademarks and/or service marks of Intuit Inc. in the United States and other countries. Other parties' trademarks or service marks are the property of the respective owners.


© 2012 - 2018 All rights reserved.

This is an Approved TurboTax Affiliate site. TurboTax and TurboTax Online, among other are registered trademarks and/or service marks of Intuit, Inc. in the United States and other countries. Other parties' trademarks or service marks are the property of the respective owners.
When discussing "Free e-file", note that state e-file is an additional fee. E-file fees do not apply to New York state returns. Prices are subject to change without notice. E-file and get your refund faster
*If you pay an IRS or state penalty or interest because of a TurboTax calculations error, we'll pay you the penalty and interest.
*Maximum Refund Guarantee - or Your Money Back: If you get a larger refund or smaller tax due from another tax preparation method, we'll refund the applicable TurboTax federal and/or state purchase price paid. TurboTax Federal Free Edition customers are entitled to payment of $14.99 and a refund of your state purchase price paid. Claims must be submitted within sixty (60) days of your TurboTax filing date and no later than 6/15/14. E-file, Audit Defense, Professional Review, Refund Transfer and technical support fees are excluded. This guarantee cannot be combined with the TurboTax Satisfaction (Easy) Guarantee. *We're so confident your return will be done right, we guarantee it. Accurate calculations guaranteed. If you pay an IRS or state penalty or interest because of a TurboTax calculations error, we'll pay you the penalty and interest.
https://turbotax.intuit.com/corp/guarantees.jsp

Need To File 2010 Taxes

Can I Amend My Tax Return2011 Ez 1040 Tax FormFree Prior Tax Years FilingFile State Taxes Online Free 20132011 Taxes 2013H&r Block Free TaxesFree Tax Software 2011 DownloadWhat If I Didn T File My 2012 Taxes2011 1040ez OnlineH&r Block 2011 Tax Software Download1040ez Fillable FormAmended Tax FormsNj 1040nr FormInstruction Booklet For 1040x1040ez Form Line 5File State Taxes FreeH&r Block Ez Form2011 1040 Income Tax Form1040ez FormsAmendment Tax ReturnTurbotax For Military MembersTaxact 2012 Tax ReturnIncome Tax Amendment FormFile Income Tax 2014Myfreetaxes De ComFree State Tax Return Efile1040x FillableWhere To File State TaxesMyfreetaxFree Tax Filing 2013 Low IncomeHow To File Taxes For 2010Free Turbo Tax For Low IncomeFiling Past TaxesAmending 2010 Tax Return2011 Form 1040Irs 2012 Tax Form1040 Ez 2010 PdfFiling State Income Taxes OnlineFree 2011 Tax Software DownloadHelp Filling Out 1040x

Need To File 2010 Taxes

Need to file 2010 taxes 22. Need to file 2010 taxes   Taxes Table of Contents IntroductionIndian tribal government. Need to file 2010 taxes Useful Items - You may want to see: Tests To Deduct Any Tax Income TaxesState and Local Income Taxes Foreign Income Taxes General Sales TaxesMotor vehicles. Need to file 2010 taxes Real Estate TaxesReal estate taxes for prior years. Need to file 2010 taxes Examples. Need to file 2010 taxes Form 1099-S. Need to file 2010 taxes Real Estate-Related Items You Cannot Deduct Personal Property Taxes Taxes and Fees You Cannot Deduct Where To Deduct Introduction This chapter discusses which taxes you can deduct if you itemize deductions on Schedule A (Form 1040). Need to file 2010 taxes It also explains which taxes you can deduct on other schedules or forms and which taxes you cannot deduct. Need to file 2010 taxes This chapter covers the following topics. Need to file 2010 taxes Income taxes (federal, state, local, and foreign). Need to file 2010 taxes General sales taxes (state and local). Need to file 2010 taxes Real estate taxes (state, local, and foreign). Need to file 2010 taxes Personal property taxes (state and local). Need to file 2010 taxes Taxes and fees you cannot deduct. Need to file 2010 taxes Use Table 22-1 as a guide to determine which taxes you can deduct. Need to file 2010 taxes The end of the chapter contains a section that explains which forms you use to deduct different types of taxes. Need to file 2010 taxes Business taxes. Need to file 2010 taxes   You can deduct certain taxes only if they are ordinary and necessary expenses of your trade or business or of producing income. Need to file 2010 taxes For information on these taxes, see Publication 535, Business Expenses. Need to file 2010 taxes State or local taxes. Need to file 2010 taxes   These are taxes imposed by the 50 states, U. Need to file 2010 taxes S. Need to file 2010 taxes possessions, or any of their political subdivisions (such as a county or city), or by the District of Columbia. Need to file 2010 taxes Indian tribal government. Need to file 2010 taxes   An Indian tribal government recognized by the Secretary of the Treasury as performing substantial government functions will be treated as a state for purposes of claiming a deduction for taxes. Need to file 2010 taxes Income taxes, real estate taxes, and personal property taxes imposed by that Indian tribal government (or by any of its subdivisions that are treated as political subdivisions of a state) are deductible. Need to file 2010 taxes General sales taxes. Need to file 2010 taxes   These are taxes imposed at one rate on retail sales of a broad range of classes of items. Need to file 2010 taxes Foreign taxes. Need to file 2010 taxes   These are taxes imposed by a foreign country or any of its political subdivisions. Need to file 2010 taxes Useful Items - You may want to see: Publication 514 Foreign Tax Credit for Individuals 530 Tax Information for Homeowners Form (and Instructions) Schedule A (Form 1040) Itemized Deductions Schedule E (Form 1040) Supplemental Income and Loss 1116 Foreign Tax Credit Tests To Deduct Any Tax The following two tests must be met for you to deduct any tax. Need to file 2010 taxes The tax must be imposed on you. Need to file 2010 taxes You must pay the tax during your tax year. Need to file 2010 taxes The tax must be imposed on you. Need to file 2010 taxes   In general, you can deduct only taxes imposed on you. Need to file 2010 taxes   Generally, you can deduct property taxes only if you are an owner of the property. Need to file 2010 taxes If your spouse owns the property and pays the real estate taxes, the taxes are deductible on your spouse's separate return or on your joint return. Need to file 2010 taxes You must pay the tax during your tax year. Need to file 2010 taxes   If you are a cash basis taxpayer, you can deduct only those taxes you actually paid during your tax year. Need to file 2010 taxes If you pay your taxes by check, the day you mail or deliver the check is the date of payment, provided the check is honored by the financial institution. Need to file 2010 taxes If you use a pay-by-phone account (such as a credit card or electronic funds withdrawal), the date reported on the statement of the financial institution showing when payment was made is the date of payment. Need to file 2010 taxes If you contest a tax liability and are a cash basis taxpayer, you can deduct the tax only in the year you actually pay it (or transfer money or other property to provide for satisfaction of the contested liability). Need to file 2010 taxes See Publication 538, Accounting Periods and Methods, for details. Need to file 2010 taxes    If you use an accrual method of accounting, see Publication 538 for more information. Need to file 2010 taxes Income Taxes This section discusses the deductibility of state and local income taxes (including employee contributions to state benefit funds) and foreign income taxes. Need to file 2010 taxes State and Local Income Taxes You can deduct state and local income taxes. Need to file 2010 taxes However, you can elect to deduct state and local general sales taxes instead of state and local income taxes. Need to file 2010 taxes See General Sales Taxes , later. Need to file 2010 taxes Exception. Need to file 2010 taxes    You cannot deduct state and local income taxes you pay on income that is exempt from federal income tax, unless the exempt income is interest income. Need to file 2010 taxes For example, you cannot deduct the part of a state's income tax that is on a cost-of-living allowance exempt from federal income tax. Need to file 2010 taxes What To Deduct Your deduction may be for withheld taxes, estimated tax payments, or other tax payments as follows. Need to file 2010 taxes Withheld taxes. Need to file 2010 taxes   You can deduct state and local income taxes withheld from your salary in the year they are withheld. Need to file 2010 taxes Your Form(s) W-2 will show these amounts. Need to file 2010 taxes Forms W-2G, 1099-G, 1099-R, and 1099-MISC may also show state and local income taxes withheld. Need to file 2010 taxes Estimated tax payments. Need to file 2010 taxes   You can deduct estimated tax payments you made during the year to a state or local government. Need to file 2010 taxes However, you must have a reasonable basis for making the estimated tax payments. Need to file 2010 taxes Any estimated state or local tax payments that are not made in good faith at the time of payment are not deductible. Need to file 2010 taxes For example, you made an estimated state income tax payment. Need to file 2010 taxes However, the estimate of your state tax liability shows that you will get a refund of the full amount of your estimated payment. Need to file 2010 taxes You had no reasonable basis to believe you had any additional liability for state income taxes and you cannot deduct the estimated tax payment. Need to file 2010 taxes Refund applied to taxes. Need to file 2010 taxes   You can deduct any part of a refund of prior-year state or local income taxes that you chose to have credited to your 2013 estimated state or local income taxes. Need to file 2010 taxes    Do not reduce your deduction by either of the following items. Need to file 2010 taxes Any state or local income tax refund (or credit) you expect to receive for 2013. Need to file 2010 taxes Any refund of (or credit for) prior-year state and local income taxes you actually received in 2013. Need to file 2010 taxes   However, part or all of this refund (or credit) may be taxable. Need to file 2010 taxes See Refund (or credit) of state or local income taxes , later. Need to file 2010 taxes Separate federal returns. Need to file 2010 taxes   If you and your spouse file separate state, local, and federal income tax returns, you each can deduct on your federal return only the amount of your own state and local income tax that you paid during the tax year. Need to file 2010 taxes Joint state and local returns. Need to file 2010 taxes   If you and your spouse file joint state and local returns and separate federal returns, each of you can deduct on your separate federal return a part of the total state and local income taxes paid during the tax year. Need to file 2010 taxes You can deduct only the amount of the total taxes that is proportionate to your gross income compared to the combined gross income of you and your spouse. Need to file 2010 taxes However, you cannot deduct more than the amount you actually paid during the year. Need to file 2010 taxes You can avoid this calculation if you and your spouse are jointly and individually liable for the full amount of the state and local income taxes. Need to file 2010 taxes If so, you and your spouse can deduct on your separate federal returns the amount you each actually paid. Need to file 2010 taxes Joint federal return. Need to file 2010 taxes   If you file a joint federal return, you can deduct the total of the state and local income taxes both of you paid. Need to file 2010 taxes Contributions to state benefit funds. Need to file 2010 taxes    As an employee, you can deduct mandatory contributions to state benefit funds withheld from your wages that provide protection against loss of wages. Need to file 2010 taxes For example, certain states require employees to make contributions to state funds providing disability or unemployment insurance benefits. Need to file 2010 taxes Mandatory payments made to the following state benefit funds are deductible as state income taxes on Schedule A (Form 1040), line 5. Need to file 2010 taxes Alaska Unemployment Compensation Fund. Need to file 2010 taxes California Nonoccupational Disability Benefit Fund. Need to file 2010 taxes New Jersey Nonoccupational Disability Benefit Fund. Need to file 2010 taxes New Jersey Unemployment Compensation Fund. Need to file 2010 taxes New York Nonoccupational Disability Benefit Fund. Need to file 2010 taxes Pennsylvania Unemployment Compensation Fund. Need to file 2010 taxes Rhode Island Temporary Disability Benefit Fund. Need to file 2010 taxes Washington State Supplemental Workmen's Compensation Fund. Need to file 2010 taxes    Employee contributions to private or voluntary disability plans are not deductible. Need to file 2010 taxes Refund (or credit) of state or local income taxes. Need to file 2010 taxes   If you receive a refund of (or credit for) state or local income taxes in a year after the year in which you paid them, you may have to include the refund in income on Form 1040, line 10, in the year you receive it. Need to file 2010 taxes This includes refunds resulting from taxes that were overwithheld, applied from a prior year return, not figured correctly, or figured again because of an amended return. Need to file 2010 taxes If you did not itemize your deductions in the previous year, do not include the refund in income. Need to file 2010 taxes If you deducted the taxes in the previous year, include all or part of the refund on Form 1040, line 10, in the year you receive the refund. Need to file 2010 taxes For a discussion of how much to include, see Recoveries in chapter 12. Need to file 2010 taxes Foreign Income Taxes Generally, you can take either a deduction or a credit for income taxes imposed on you by a foreign country or a U. Need to file 2010 taxes S. Need to file 2010 taxes possession. Need to file 2010 taxes However, you cannot take a deduction or credit for foreign income taxes paid on income that is exempt from U. Need to file 2010 taxes S. Need to file 2010 taxes tax under the foreign earned income exclusion or the foreign housing exclusion. Need to file 2010 taxes For information on these exclusions, see Publication 54, Tax Guide for U. Need to file 2010 taxes S. Need to file 2010 taxes Citizens and Resident Aliens Abroad. Need to file 2010 taxes For information on the foreign tax credit, see Publication 514. Need to file 2010 taxes General Sales Taxes You can elect to deduct state and local general sales taxes, instead of state and local income taxes, as an itemized deduction on Schedule A (Form 1040), line 5b. Need to file 2010 taxes You can use either your actual expenses or the state and local sales tax tables to figure your sales tax deduction. Need to file 2010 taxes Actual expenses. Need to file 2010 taxes   Generally, you can deduct the actual state and local general sales taxes (including compensating use taxes) if the tax rate was the same as the general sales tax rate. Need to file 2010 taxes However, sales taxes on food, clothing, medical supplies, and motor vehicles are deductible as a general sales tax even if the tax rate was less than the general sales tax rate. Need to file 2010 taxes If you paid sales tax on a motor vehicle at a rate higher than the general sales tax rate, you can deduct only the amount of tax that you would have paid at the general sales tax rate on that vehicle. Need to file 2010 taxes If you use the actual expenses method, you must have receipts to show the general sales taxes paid. Need to file 2010 taxes Do not include sales taxes paid on items used in your trade or business. Need to file 2010 taxes Motor vehicles. Need to file 2010 taxes   For purposes of this section, motor vehicles include cars, motorcycles, motor homes, recreational vehicles, sport utility vehicles, trucks, vans, and off-road vehicles. Need to file 2010 taxes This also includes sales taxes on a leased motor vehicle, but not on vehicles used in your trade or business. Need to file 2010 taxes Optional sales tax tables. Need to file 2010 taxes   Instead of using your actual expenses, you can figure your state and local general sales tax deduction using the state and local sales tax tables in the Instructions for Schedule A (Form 1040). Need to file 2010 taxes You may also be able to add the state and local general sales taxes paid on certain specified items. Need to file 2010 taxes   Your applicable table amount is based on the state where you live, your income, and the number of exemptions claimed on your tax return. Need to file 2010 taxes Your income is your adjusted gross income plus any nontaxable items such as the following. Need to file 2010 taxes Tax-exempt interest. Need to file 2010 taxes Veterans' benefits. Need to file 2010 taxes Nontaxable combat pay. Need to file 2010 taxes Workers' compensation. Need to file 2010 taxes Nontaxable part of social security and railroad retirement benefits. Need to file 2010 taxes Nontaxable part of IRA, pension, or annuity distributions, excluding rollovers. Need to file 2010 taxes Public assistance payments. Need to file 2010 taxes If you lived in different states during the same tax year, you must prorate your applicable table amount for each state based on the days you lived in each state. Need to file 2010 taxes See the Instructions for Schedule A (Form 1040), line 5, for details. Need to file 2010 taxes Real Estate Taxes Deductible real estate taxes are any state, local, or foreign taxes on real property levied for the general public welfare. Need to file 2010 taxes You can deduct these taxes only if they are based on the assessed value of the real property and charged uniformly against all property under the jurisdiction of the taxing authority. Need to file 2010 taxes Deductible real estate taxes generally do not include taxes charged for local benefits and improvements that increase the value of the property. Need to file 2010 taxes They also do not include itemized charges for services (such as trash collection) assessed against specific property or certain people, even if the charge is paid to the taxing authority. Need to file 2010 taxes For more information about taxes and charges that are not deductible, see Real Estate-Related Items You Cannot Deduct , later. Need to file 2010 taxes Tenant-shareholders in a cooperative housing corporation. Need to file 2010 taxes   Generally, if you are a tenant-stockholder in a cooperative housing corporation, you can deduct the amount paid to the corporation that represents your share of the real estate taxes the corporation paid or incurred for your dwelling unit. Need to file 2010 taxes The corporation should provide you with a statement showing your share of the taxes. Need to file 2010 taxes For more information, see Special Rules for Cooperatives in Publication 530. Need to file 2010 taxes Division of real estate taxes between buyers and sellers. Need to file 2010 taxes   If you bought or sold real estate during the year, the real estate taxes must be divided between the buyer and the seller. Need to file 2010 taxes   The buyer and the seller must divide the real estate taxes according to the number of days in the real property tax year (the period to which the tax is imposed relates) that each owned the property. Need to file 2010 taxes The seller is treated as paying the taxes up to, but not including, the date of sale. Need to file 2010 taxes The buyer is treated as paying the taxes beginning with the date of sale. Need to file 2010 taxes This applies regardless of the lien dates under local law. Need to file 2010 taxes Generally, this information is included on the settlement statement provided at the closing. Need to file 2010 taxes    If you (the seller) cannot deduct taxes until they are paid because you use the cash method of accounting, and the buyer of your property is personally liable for the tax, you are considered to have paid your part of the tax at the time of the sale. Need to file 2010 taxes This lets you deduct the part of the tax to the date of sale even though you did not actually pay it. Need to file 2010 taxes However, you must also include the amount of that tax in the selling price of the property. Need to file 2010 taxes The buyer must include the same amount in his or her cost of the property. Need to file 2010 taxes   You figure your deduction for taxes on each property bought or sold during the real property tax year as follows. Need to file 2010 taxes Worksheet 22-1. Need to file 2010 taxes Figuring Your Real Estate Tax Deduction 1. Need to file 2010 taxes Enter the total real estate taxes for the real property tax year   2. Need to file 2010 taxes Enter the number of days in the real property tax year that you owned the property   3. Need to file 2010 taxes Divide line 2 by 365 (for leap years, divide line 2 by 366) . Need to file 2010 taxes 4. Need to file 2010 taxes Multiply line 1 by line 3. Need to file 2010 taxes This is your deduction. Need to file 2010 taxes Enter it on Schedule A (Form 1040), line 6   Note. Need to file 2010 taxes Repeat steps 1 through 4 for each property you bought or sold during the real property tax year. Need to file 2010 taxes Your total deduction is the sum of the line 4 amounts for all of the properties. Need to file 2010 taxes Real estate taxes for prior years. Need to file 2010 taxes   Do not divide delinquent taxes between the buyer and seller if the taxes are for any real property tax year before the one in which the property is sold. Need to file 2010 taxes Even if the buyer agrees to pay the delinquent taxes, the buyer cannot deduct them. Need to file 2010 taxes The buyer must add them to the cost of the property. Need to file 2010 taxes The seller can deduct these taxes paid by the buyer. Need to file 2010 taxes However, the seller must include them in the selling price. Need to file 2010 taxes Examples. Need to file 2010 taxes   The following examples illustrate how real estate taxes are divided between buyer and seller. Need to file 2010 taxes Example 1. Need to file 2010 taxes Dennis and Beth White's real property tax year for both their old home and their new home is the calendar year, with payment due August 1. Need to file 2010 taxes The tax on their old home, sold on May 7, was $620. Need to file 2010 taxes The tax on their new home, bought on May 3, was $732. Need to file 2010 taxes Dennis and Beth are considered to have paid a proportionate share of the real estate taxes on the old home even though they did not actually pay them to the taxing authority. Need to file 2010 taxes On the other hand, they can claim only a proportionate share of the taxes they paid on their new property even though they paid the entire amount. Need to file 2010 taxes Dennis and Beth owned their old home during the real property tax year for 126 days (January 1 to May 6, the day before the sale). Need to file 2010 taxes They figure their deduction for taxes on their old home as follows. Need to file 2010 taxes Worksheet 22-1. Need to file 2010 taxes Figuring Your Real Estate Tax Deduction — Taxes on Old Home 1. Need to file 2010 taxes Enter the total real estate taxes for the real property tax year $620 2. Need to file 2010 taxes Enter the number of days in the real property tax year that you owned the property 126 3. Need to file 2010 taxes Divide line 2 by 365 (for leap years, divide line 2 by 366) . Need to file 2010 taxes 3452 4. Need to file 2010 taxes Multiply line 1 by line 3. Need to file 2010 taxes This is your deduction. Need to file 2010 taxes Enter it on Schedule A (Form 1040), line 6 $214 Since the buyers of their old home paid all of the taxes, Dennis and Beth also include the $214 in the selling price of the old home. Need to file 2010 taxes (The buyers add the $214 to their cost of the home. Need to file 2010 taxes ) Dennis and Beth owned their new home during the real property tax year for 243 days (May 3 to December 31, including their date of purchase). Need to file 2010 taxes They figure their deduction for taxes on their new home as follows. Need to file 2010 taxes Worksheet 22-1. Need to file 2010 taxes Figuring Your Real Estate Tax Deduction — Taxes on New Home 1. Need to file 2010 taxes Enter the total real estate taxes for the real property tax year $732 2. Need to file 2010 taxes Enter the number of days in the real property tax year that you owned the property 243 3. Need to file 2010 taxes Divide line 2 by 365 (for leap years, divide line 2 by 366) . Need to file 2010 taxes 6658 4. Need to file 2010 taxes Multiply line 1 by line 3. Need to file 2010 taxes This is your deduction. Need to file 2010 taxes Enter it on Schedule A (Form 1040), line 6 $487 Since Dennis and Beth paid all of the taxes on the new home, they add $245 ($732 paid less $487 deduction) to their cost of the new home. Need to file 2010 taxes (The sellers add this $245 to their selling price and deduct the $245 as a real estate tax. Need to file 2010 taxes ) Dennis and Beth's real estate tax deduction for their old and new homes is the sum of $214 and $487, or $701. Need to file 2010 taxes They will enter this amount on Schedule A (Form 1040), line 6. Need to file 2010 taxes Example 2. Need to file 2010 taxes George and Helen Brown bought a new home on May 3, 2013. Need to file 2010 taxes Their real property tax year for the new home is the calendar year. Need to file 2010 taxes Real estate taxes for 2012 were assessed in their state on January 1, 2013. Need to file 2010 taxes The taxes became due on May 31, 2013, and October 31, 2013. Need to file 2010 taxes The Browns agreed to pay all taxes due after the date of purchase. Need to file 2010 taxes Real estate taxes for 2012 were $680. Need to file 2010 taxes They paid $340 on May 31, 2013, and $340 on October 31, 2013. Need to file 2010 taxes These taxes were for the 2012 real property tax year. Need to file 2010 taxes The Browns cannot deduct them since they did not own the property until 2013. Need to file 2010 taxes Instead, they must add $680 to the cost of their new home. Need to file 2010 taxes In January 2014, the Browns receive their 2013 property tax statement for $752, which they will pay in 2014. Need to file 2010 taxes The Browns owned their new home during the 2013 real property tax year for 243 days (May 3 to December 31). Need to file 2010 taxes They will figure their 2014 deduction for taxes as follows. Need to file 2010 taxes Worksheet 22-1. Need to file 2010 taxes Figuring Your Real Estate Tax Deduction — Taxes on New Home 1. Need to file 2010 taxes Enter the total real estate taxes for the real property tax year $752 2. Need to file 2010 taxes Enter the number of days in the real property tax year that you owned the property 243 3. Need to file 2010 taxes Divide line 2 by 365 (for leap years, divide line 2 by 366) . Need to file 2010 taxes 6658 4. Need to file 2010 taxes Multiply line 1 by line 3. Need to file 2010 taxes This is your deduction. Need to file 2010 taxes Claim it on Schedule A (Form 1040), line 6 $501 The remaining $251 ($752 paid less $501 deduction) of taxes paid in 2014, along with the $680 paid in 2013, is added to the cost of their new home. Need to file 2010 taxes Because the taxes up to the date of sale are considered paid by the seller on the date of sale, the seller is entitled to a 2013 tax deduction of $931. Need to file 2010 taxes This is the sum of the $680 for 2012 and the $251 for the 122 days the seller owned the home in 2013. Need to file 2010 taxes The seller must also include the $931 in the selling price when he or she figures the gain or loss on the sale. Need to file 2010 taxes The seller should contact the Browns in January 2014 to find out how much real estate tax is due for 2013. Need to file 2010 taxes Form 1099-S. Need to file 2010 taxes   For certain sales or exchanges of real estate, the person responsible for closing the sale (generally the settlement agent) prepares Form 1099-S, Proceeds From Real Estate Transactions, to report certain information to the IRS and to the seller of the property. Need to file 2010 taxes Box 2 of Form 1099-S is for the gross proceeds from the sale and should include the portion of the seller's real estate tax liability that the buyer will pay after the date of sale. Need to file 2010 taxes The buyer includes these taxes in the cost basis of the property, and the seller both deducts this amount as a tax paid and includes it in the sales price of the property. Need to file 2010 taxes   For a real estate transaction that involves a home, any real estate tax the seller paid in advance but that is the liability of the buyer appears on Form 1099-S, box 5. Need to file 2010 taxes The buyer deducts this amount as a real estate tax, and the seller reduces his or her real estate tax deduction (or includes it in income) by the same amount. Need to file 2010 taxes See Refund (or rebate) , later. Need to file 2010 taxes Taxes placed in escrow. Need to file 2010 taxes   If your monthly mortgage payment includes an amount placed in escrow (put in the care of a third party) for real estate taxes, you may not be able to deduct the total amount placed in escrow. Need to file 2010 taxes You can deduct only the real estate tax that the third party actually paid to the taxing authority. Need to file 2010 taxes If the third party does not notify you of the amount of real estate tax that was paid for you, contact the third party or the taxing authority to find the proper amount to show on your return. Need to file 2010 taxes Tenants by the entirety. Need to file 2010 taxes   If you and your spouse held property as tenants by the entirety and you file separate federal returns, each of you can deduct only the taxes each of you paid on the property. Need to file 2010 taxes Divorced individuals. Need to file 2010 taxes   If your divorce or separation agreement states that you must pay the real estate taxes for a home owned by you and your spouse, part of your payments may be deductible as alimony and part as real estate taxes. Need to file 2010 taxes See Taxes and insurance in chapter 18 for more information. Need to file 2010 taxes Ministers' and military housing allowances. Need to file 2010 taxes   If you are a minister or a member of the uniformed services and receive a housing allowance that you can exclude from income, you still can deduct all of the real estate taxes you pay on your home. Need to file 2010 taxes Refund (or rebate). Need to file 2010 taxes   If you received a refund or rebate in 2013 of real estate taxes you paid in 2013, you must reduce your deduction by the amount refunded to you. Need to file 2010 taxes If you received a refund or rebate in 2013 of real estate taxes you deducted in an earlier year (either as an itemized deduction or an increase to your standard deduction), you generally must include the refund or rebate in income in the year you receive it. Need to file 2010 taxes However, the amount you include in income is limited to the amount of the deduction that reduced your tax in the earlier year. Need to file 2010 taxes For more information, see Recoveries in chapter 12. Need to file 2010 taxes Table 22-1. Need to file 2010 taxes Which Taxes Can You Deduct? Type of Tax You Can Deduct You Cannot Deduct Fees and Charges Fees and charges that are expenses of your trade or business or of producing income. Need to file 2010 taxes Fees and charges that are not expenses of your trade or business or of producing income, such as fees for driver's licenses, car inspections, parking, or charges for water bills (see Taxes and Fees You Cannot Deduct ). Need to file 2010 taxes     Fines and penalties. Need to file 2010 taxes Income Taxes State and local income taxes. Need to file 2010 taxes Federal income taxes. Need to file 2010 taxes   Foreign income taxes. Need to file 2010 taxes     Employee contributions to state funds listed under Contributions to state benefit funds . Need to file 2010 taxes Employee contributions to private or voluntary disability plans. Need to file 2010 taxes     State and local general sales taxes if you choose to deduct state and local income taxes. Need to file 2010 taxes General Sales Taxes State and local general sales taxes, including compensating use taxes. Need to file 2010 taxes State and local income taxes if you choose to deduct state and local general sales taxes. Need to file 2010 taxes Other Taxes Taxes that are expenses of your trade or business. Need to file 2010 taxes Federal excise taxes, such as tax on gasoline, that are not expenses of your trade or business or of producing income. Need to file 2010 taxes   Taxes on property producing rent or royalty income. Need to file 2010 taxes Per capita taxes. Need to file 2010 taxes   Occupational taxes. Need to file 2010 taxes See chapter 28. Need to file 2010 taxes     One-half of self-employment tax paid. Need to file 2010 taxes   Personal Property Taxes State and local personal property taxes. Need to file 2010 taxes Customs duties that are not expenses of your trade or business or of producing income. Need to file 2010 taxes Real Estate Taxes State and local real estate taxes. Need to file 2010 taxes Real estate taxes that are treated as imposed on someone else (see Division of real estate taxes between buyers and sellers ). Need to file 2010 taxes   Foreign real estate taxes. Need to file 2010 taxes Taxes for local benefits (with exceptions). Need to file 2010 taxes See Real Estate-Related Items You Cannot Deduct . Need to file 2010 taxes   Tenant's share of real estate taxes paid by  cooperative housing corporation. Need to file 2010 taxes Trash and garbage pickup fees (with exceptions). Need to file 2010 taxes See Real Estate-Related Items You Cannot Deduct . Need to file 2010 taxes     Rent increase due to higher real estate taxes. Need to file 2010 taxes     Homeowners' association charges. Need to file 2010 taxes Real Estate-Related Items You Cannot Deduct Payments for the following items generally are not deductible as real estate taxes. Need to file 2010 taxes Taxes for local benefits. Need to file 2010 taxes Itemized charges for services (such as trash and garbage pickup fees). Need to file 2010 taxes Transfer taxes (or stamp taxes). Need to file 2010 taxes Rent increases due to higher real estate taxes. Need to file 2010 taxes Homeowners' association charges. Need to file 2010 taxes Taxes for local benefits. Need to file 2010 taxes   Deductible real estate taxes generally do not include taxes charged for local benefits and improvements tending to increase the value of your property. Need to file 2010 taxes These include assessments for streets, sidewalks, water mains, sewer lines, public parking facilities, and similar improvements. Need to file 2010 taxes You should increase the basis of your property by the amount of the assessment. Need to file 2010 taxes   Local benefit taxes are deductible only if they are for maintenance, repair, or interest charges related to those benefits. Need to file 2010 taxes If only a part of the taxes is for maintenance, repair, or interest, you must be able to show the amount of that part to claim the deduction. Need to file 2010 taxes If you cannot determine what part of the tax is for maintenance, repair, or interest, none of it is deductible. Need to file 2010 taxes    Taxes for local benefits may be included in your real estate tax bill. Need to file 2010 taxes If your taxing authority (or mortgage lender) does not furnish you a copy of your real estate tax bill, ask for it. Need to file 2010 taxes You should use the rules above to determine if the local benefit tax is deductible. Need to file 2010 taxes Contact the taxing authority if you need additional information about a specific charge on your real estate tax bill. Need to file 2010 taxes Itemized charges for services. Need to file 2010 taxes    An itemized charge for services assessed against specific property or certain people is not a tax, even if the charge is paid to the taxing authority. Need to file 2010 taxes For example, you cannot deduct the charge as a real estate tax if it is: A unit fee for the delivery of a service (such as a $5 fee charged for every 1,000 gallons of water you use), A periodic charge for a residential service (such as a $20 per month or $240 annual fee charged to each homeowner for trash collection), or A flat fee charged for a single service provided by your government (such as a $30 charge for mowing your lawn because it was allowed to grow higher than permitted under your local ordinance). Need to file 2010 taxes    You must look at your real estate tax bill to determine if any nondeductible itemized charges, such as those listed above, are included in the bill. Need to file 2010 taxes If your taxing authority (or mortgage lender) does not furnish you a copy of your real estate tax bill, ask for it. Need to file 2010 taxes Exception. Need to file 2010 taxes   Service charges used to maintain or improve services (such as trash collection or police and fire protection) are deductible as real estate taxes if: The fees or charges are imposed at a like rate against all property in the taxing jurisdiction, The funds collected are not earmarked; instead, they are commingled with general revenue funds, and Funds used to maintain or improve services are not limited to or determined by the amount of these fees or charges collected. Need to file 2010 taxes Transfer taxes (or stamp taxes). Need to file 2010 taxes   Transfer taxes and similar taxes and charges on the sale of a personal home are not deductible. Need to file 2010 taxes If they are paid by the seller, they are expenses of the sale and reduce the amount realized on the sale. Need to file 2010 taxes If paid by the buyer, they are included in the cost basis of the property. Need to file 2010 taxes Rent increase due to higher real estate taxes. Need to file 2010 taxes   If your landlord increases your rent in the form of a tax surcharge because of increased real estate taxes, you cannot deduct the increase as taxes. Need to file 2010 taxes Homeowners' association charges. Need to file 2010 taxes   These charges are not deductible because they are imposed by the homeowners' association, rather than the state or local government. Need to file 2010 taxes Personal Property Taxes Personal property tax is deductible if it is a state or local tax that is: Charged on personal property, Based only on the value of the personal property, and Charged on a yearly basis, even if it is collected more or less than once a year. Need to file 2010 taxes A tax that meets the above requirements can be considered charged on personal property even if it is for the exercise of a privilege. Need to file 2010 taxes For example, a yearly tax based on value qualifies as a personal property tax even if it is called a registration fee and is for the privilege of registering motor vehicles or using them on the highways. Need to file 2010 taxes If the tax is partly based on value and partly based on other criteria, it may qualify in part. Need to file 2010 taxes Example. Need to file 2010 taxes Your state charges a yearly motor vehicle registration tax of 1% of value plus 50 cents per hundredweight. Need to file 2010 taxes You paid $32 based on the value ($1,500) and weight (3,400 lbs. Need to file 2010 taxes ) of your car. Need to file 2010 taxes You can deduct $15 (1% × $1,500) as a personal property tax because it is based on the value. Need to file 2010 taxes The remaining $17 ($. Need to file 2010 taxes 50 × 34), based on the weight, is not deductible. Need to file 2010 taxes Taxes and Fees You Cannot Deduct Many federal, state, and local government taxes are not deductible because they do not fall within the categories discussed earlier. Need to file 2010 taxes Other taxes and fees, such as federal income taxes, are not deductible because the tax law specifically prohibits a deduction for them. Need to file 2010 taxes See Table 22-1. Need to file 2010 taxes Taxes and fees that are generally not deductible include the following items. Need to file 2010 taxes Employment taxes. Need to file 2010 taxes This includes social security, Medicare, and railroad retirement taxes withheld from your pay. Need to file 2010 taxes However, one-half of self-employment tax you pay is deductible. Need to file 2010 taxes In addition, the social security and other employment taxes you pay on the wages of a household worker may be included in medical expenses that you can deduct or child care expenses that allow you to claim the child and dependent care credit. Need to file 2010 taxes For more information, see chapters 21 and 32. Need to file 2010 taxes Estate, inheritance, legacy, or succession taxes. Need to file 2010 taxes However, you can deduct the estate tax attributable to income in respect of a decedent if you, as a beneficiary, must include that income in your gross income. Need to file 2010 taxes In that case, deduct the estate tax as a miscellaneous deduction that is not subject to the 2%-of-adjusted-gross-income limit. Need to file 2010 taxes For more information, see Publication 559, Survivors, Executors, and Administrators. Need to file 2010 taxes Federal income taxes. Need to file 2010 taxes This includes income taxes withheld from your pay. Need to file 2010 taxes Fines and penalties. Need to file 2010 taxes You cannot deduct fines and penalties paid to a government for violation of any law, including related amounts forfeited as collateral deposits. Need to file 2010 taxes Gift taxes. Need to file 2010 taxes License fees. Need to file 2010 taxes You cannot deduct license fees for personal purposes (such as marriage, driver's, and dog license fees). Need to file 2010 taxes Per capita taxes. Need to file 2010 taxes You cannot deduct state or local per capita taxes. Need to file 2010 taxes Many taxes and fees other than those listed above are also nondeductible, unless they are ordinary and necessary expenses of a business or income producing activity. Need to file 2010 taxes For other nondeductible items, see Real Estate-Related Items You Cannot Deduct , earlier. Need to file 2010 taxes Where To Deduct You deduct taxes on the following schedules. Need to file 2010 taxes State and local income taxes. Need to file 2010 taxes    These taxes are deducted on Schedule A (Form 1040), line 5, even if your only source of income is from business, rents, or royalties. Need to file 2010 taxes Check box a on line 5. Need to file 2010 taxes General sales taxes. Need to file 2010 taxes   Sales taxes are deducted on Schedule A (Form 1040), line 5. Need to file 2010 taxes You must check box b on line 5. Need to file 2010 taxes If you elect to deduct sales taxes, you cannot deduct state and local income taxes on Schedule A (Form 1040), line 5, box a. Need to file 2010 taxes Foreign income taxes. Need to file 2010 taxes   Generally, income taxes you pay to a foreign country or U. Need to file 2010 taxes S. Need to file 2010 taxes possession can be claimed as an itemized deduction on Schedule A (Form 1040), line 8, or as a credit against your U. Need to file 2010 taxes S. Need to file 2010 taxes income tax on Form 1040, line 47. Need to file 2010 taxes To claim the credit, you may have to complete and attach Form 1116. Need to file 2010 taxes For more information, see chapter 37, the Form 1040 instructions, or Publication 514. Need to file 2010 taxes Real estate taxes and personal property taxes. Need to file 2010 taxes    Real estate and personal property taxes are deducted on Schedule A (Form 1040), lines 6 and 7, respectively, unless they are paid on property used in your business, in which case they are deducted on Schedule C, Schedule C-EZ, or Schedule F (Form 1040). Need to file 2010 taxes Taxes on property that produces rent or royalty income are deducted on Schedule E (Form 1040). Need to file 2010 taxes Self-employment tax. Need to file 2010 taxes    Deduct one-half of your self-employment tax on Form 1040, line 27. Need to file 2010 taxes Other taxes. Need to file 2010 taxes    All other deductible taxes are deducted on Schedule A (Form 1040), line 8. Need to file 2010 taxes Prev  Up  Next   Home   More Online Publications
Español

Consumer Guides and Protection

A to Z resources on consumer guides and protection.


A

B

C

D

E

F

G

H

I

K

L

M

N

P

R

S

T

U

W

The Need To File 2010 Taxes

Need to file 2010 taxes Publication 523 - Introductory Material Table of Contents Future Developments Reminders IntroductionOrdering forms and publications. Need to file 2010 taxes Tax questions. Need to file 2010 taxes Useful Items - You may want to see: Future Developments For the latest information about developments related to Publication 523, such as legislation enacted after it was published, go to www. Need to file 2010 taxes irs. Need to file 2010 taxes gov/pub523. Need to file 2010 taxes Reminders Change of address. Need to file 2010 taxes  If you change your mailing address, be sure to notify the Internal Revenue Service (IRS) using Form 8822, Change of Address. Need to file 2010 taxes Mail it to the Internal Revenue Service Center for your old address. Need to file 2010 taxes (Addresses for the Service Centers are on the back of the form. Need to file 2010 taxes ) Home sold with undeducted points. Need to file 2010 taxes  If you have not deducted all the points you paid to secure a mortgage on your old home, you may be able to deduct the remaining points in the year of sale. Need to file 2010 taxes See Points in Publication 936, Home Mortgage Interest Deduction. Need to file 2010 taxes Photographs of missing children. Need to file 2010 taxes  The Internal Revenue Service is a proud partner with the National Center for Missing and Exploited Children. Need to file 2010 taxes Photographs of missing children selected by the Center may appear in this publication on pages that would otherwise be blank. Need to file 2010 taxes You can help bring these children home by looking at the photographs and calling 1-800-THE-LOST (1-800-843-5678) if you recognize a child. Need to file 2010 taxes Introduction This publication explains the tax rules that apply when you sell your main home. Need to file 2010 taxes In most cases, your main home is the one in which you live most of the time. Need to file 2010 taxes If you sold your main home in 2013, you may be able to exclude from income any gain up to a limit of $250,000 ($500,000 on a joint return in most cases). Need to file 2010 taxes See Excluding the Gain , later. Need to file 2010 taxes Generally, if you can exclude all the gain, you do not need to report the sale on your tax return. Need to file 2010 taxes If you have gain that cannot be excluded, you generally must report it on Form 8949, Sales and Other Dispositions of Capital Assets, and Schedule D (Form 1040), Capital Gains and Losses. Need to file 2010 taxes You may also have to complete Form 4797, Sales of Business Property. Need to file 2010 taxes See Reporting the Sale , later. Need to file 2010 taxes If you have a loss on the sale, you generally cannot deduct it on your return. Need to file 2010 taxes However, you may need to report it. Need to file 2010 taxes See Reporting the Sale , later. Need to file 2010 taxes The main topics in this publication are: Figuring gain or loss, Basis, Excluding the gain, Ownership and use tests, and Reporting the sale. Need to file 2010 taxes Other topics include: Business use or rental of home, Deducting taxes in the year of sale, and Recapturing a federal mortgage subsidy. Need to file 2010 taxes Net Investment Income Tax (NIIT). Need to file 2010 taxes   If any part of the gain on the sale of a home is not excluded under the rules discussed in this publication, it may be subject to the NIIT. Need to file 2010 taxes For more details, see Form 8960, Net Investment Income Tax—Individuals, Estates, and Trusts, and its instructions. Need to file 2010 taxes Worksheets. Need to file 2010 taxes   Near the end of this publication you will find worksheets you can use to figure your gain (or loss) and your exclusion. Need to file 2010 taxes Use Worksheet 1 to figure the adjusted basis of the home you sold. Need to file 2010 taxes Use Worksheet 2 to figure the gain (or loss), the exclusion, and the taxable gain (if any) on the sale. Need to file 2010 taxes If you do not qualify for the maximum exclusion, use Worksheet 3 to figure your reduced maximum exclusion. Need to file 2010 taxes Date of sale. Need to file 2010 taxes    If you received a Form 1099-S, Proceeds From Real Estate Transactions, the date of sale should be shown in box 1. Need to file 2010 taxes If you did not receive this form, the date of sale is the earlier of (a) the date title transferred or (b) the date the economic burdens and benefits of ownership shifted to the buyer. Need to file 2010 taxes In most cases, these dates are the same. Need to file 2010 taxes What is not covered in this publication. Need to file 2010 taxes   This publication does not cover the sale of rental property, second homes, or vacation homes. Need to file 2010 taxes For information on how to report any gain or loss from those sales, see Publication 544, Sales and Other Dispositions of Assets. Need to file 2010 taxes Comments and suggestions. Need to file 2010 taxes   We welcome your comments about this publication and your suggestions for future editions. Need to file 2010 taxes   You can write to us at the following address: Internal Revenue Service Tax Forms and Publications Division 1111 Constitution Ave. Need to file 2010 taxes NW, IR-6526 Washington, DC 20224   We respond to many letters by telephone. Need to file 2010 taxes Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your correspondence. Need to file 2010 taxes   You can send your comments from www. Need to file 2010 taxes irs. Need to file 2010 taxes gov/formspubs/. Need to file 2010 taxes Click on “More Information” and then on “Comment on Tax Forms and Publications”. Need to file 2010 taxes   Although we cannot respond individually to each comment received, we do appreciate your feedback and will consider your comments as we revise our tax products. Need to file 2010 taxes Ordering forms and publications. Need to file 2010 taxes   Visit www. Need to file 2010 taxes irs. Need to file 2010 taxes gov/formspubs/ to download forms and publications, call 1-800-TAX-FORM (1-800-829-3676), or write to the address below and receive a response within 10 days after your request is received. Need to file 2010 taxes Internal Revenue Service 1201 N. Need to file 2010 taxes Mitsubishi Motorway Bloomington, IL 61705-6613 Tax questions. Need to file 2010 taxes   If you have a tax question, check the information available on IRS. Need to file 2010 taxes gov or call 1-800-829-1040. Need to file 2010 taxes We cannot answer tax questions sent to either of the above addresses. Need to file 2010 taxes Useful Items - You may want to see: Publication 527 Residential Rental Property 530 Tax Information for Homeowners 544 Sales and Other Dispositions of Assets 547 Casualties, Disasters, and Thefts 551 Basis of Assets 587 Business Use of Your Home 936 Home Mortgage Interest Deduction 4681 Canceled Debts, Foreclosures, Repossessions, and Abandonments Form (and Instructions) Schedule A (Form 1040) Itemized Deductions Schedule D (Form 1040) Capital Gains and Losses 982 Reduction of Tax Attributes Due to Discharge of Indebtedness 1040 U. Need to file 2010 taxes S. Need to file 2010 taxes Individual Income Tax Return 1040NR U. Need to file 2010 taxes S. Need to file 2010 taxes Nonresident Alien Income Tax Return 1040X Amended U. Need to file 2010 taxes S. Need to file 2010 taxes Individual Income Tax Return 1099-S Proceeds From Real Estate Transactions 4797 Sales of Business Property 5405 Repayment of the First-Time Homebuyer Credit 8822 Change of Address 8828 Recapture of Federal Mortgage Subsidy 8939 Allocation of Increase in Basis for Property Acquired From a Decedent 8949 Sales and Other Dispositions of Capital Assets W-2 Wage and Tax Statement See How To Get Tax Help , near the end of this publication, for information about getting these publications and forms. Need to file 2010 taxes Prev  Up  Next   Home   More Online Publications