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Online taxes h&rblock 16. Online taxes h&rblock   Cómo Declarar Ganancias y Pérdidas Table of Contents Qué Hay de Nuevo Introduction Useful Items - You may want to see: Cómo Declarar Ganancias y Pérdidas de CapitalExcepción 1. Online taxes h&rblock Excepción 2. Online taxes h&rblock Presente el Formulario 1099-B o el Formulario 1099-S al IRS. Online taxes h&rblock Pérdidas de Capital Tasas Impositivas sobre Ganancias de Capital Qué Hay de Nuevo Tasas máximas de ganancias de capital. Online taxes h&rblock  Para el año 2013, las tasas máximas de ganancias de capital son del 0%, 15%, 20%, 25% y 28%. Online taxes h&rblock Introduction En este capítulo se explica cómo declarar ganancias y pérdidas de capital provenientes de ventas, intercambios y otras enajenaciones de bienes de inversión en el Formulario 8949 y el Anexo D (Formulario 1040). Online taxes h&rblock Esta explicación abarca los siguientes temas: Cómo declarar ganancias y pérdidas a corto plazo. Online taxes h&rblock Cómo declarar ganancias y pérdidas a largo plazo. Online taxes h&rblock Cómo calcular pérdidas de capital que se van a trasladar al año siguiente. Online taxes h&rblock Cómo calcular los impuestos sobre una ganancia neta de capital. Online taxes h&rblock Si vende o de otro modo enajena bienes utilizados en una ocupación o negocio o en la producción de ingresos, vea la Publicación 544, Sales and Other Dispositions of Assets (Ventas y otras enajenaciones de activos), en inglés, antes de completar el Anexo D (Formulario 1040). Online taxes h&rblock Useful Items - You may want to see: Publicación 537 Installment Sales (Ventas a plazos), en inglés 544 Sales and Other Dispositions of Assets (Ventas y otras enajenaciones de activos), en inglés 550 Investment Income and Expenses (Ingresos y gastos de inversión), en inglés Formulario (e Instrucciones) 4797 Sales of Business Property (Ventas de bienes comerciales), en inglés 6252 Installment Sale Income (Ingresos de ventas a plazos), en inglés 8582 Passive Activity Loss Limitations (Limitaciones de pérdidas en actividades pasivas), en inglés 8949 Sales and Other Dispositions of Capital Assets (Ventas y otras enajenaciones de activos de capital, en inglés) Anexo D (Formulario 1040) Capital Gains and Losses (Ganancias y pérdidas de capital), en inglés Cómo Declarar Ganancias y Pérdidas de Capital Declare sus ganancias y pérdidas de capital en el Formulario 8949. Online taxes h&rblock Complete el Formulario 8949 antes de completar las líneas 1b, 2, 3, 8b, 9 ó 10 del Anexo D (Formulario 1040). Online taxes h&rblock Use el Formulario 8949 para declarar: La venta o intercambio de un activo de capital, la cual no se declaró en ningún otro formulario o anexo, Ganancias por canjes involuntarios (aparte de cuando se deba a un hecho fortuito o un robo) de activos de capital que no sirven para propósitos de negocio o lucro y Deudas incobrables que no provienen del negocio. Online taxes h&rblock Use el Anexo D (Formulario 1040): Para calcular la ganancia o pérdida total de las transacciones declaradas en el Formulario 8949; Para declarar una ganancia proveniente del Formulario 6252 o de la Parte I del Formulario 4797; Para declarar una ganancia o pérdida proveniente del Formulario 4684, 6781 u 8824; Para declarar distribuciones de ganancias de capital no declaradas directamente en el Formulario 1040 o en el Formulario 1040A; Para declarar una pérdida de capital trasladada del año tributario anterior al año tributario actual; Para declarar su parte de una ganancia (o pérdida) de una sociedad colectiva, sociedad anónima de tipo S, caudal hereditario o fideicomiso; Para declarar las transacciones informadas a usted en el Formulario 1099-B (o documento sustitutivo), el cual muestra las bases informadas al IRS y al cual no corresponde ninguno de los ajustes o códigos del Formulario 8949; y Para declarar ganancias de capital a largo plazo no distribuidas provenientes del Formulario 2439. Online taxes h&rblock Anote en el Formulario 8949 todas las ventas e intercambios de activos de capital (incluyendo acciones, bonos, etc. Online taxes h&rblock ) y de bienes raíces (si no se declararon en el Formulario 4684, 4797, 6252, 6781 u 8824 o la línea 1a u 8a del Anexo D). Online taxes h&rblock Declare estas transacciones aun si usted no recibió un Formulario 1099-B o 1099-S (u otra declaración sustitutiva) para la transacción. Online taxes h&rblock Declare las ganancias o pérdidas a corto plazo en la Parte I. Online taxes h&rblock Declare ganancias y pérdidas a largo plazo en la Parte II. Online taxes h&rblock Use cuantos Formularios 8949 sean necesarios. Online taxes h&rblock Excepciones a la presentación del Formulario 8949 y el Anexo D (Formulario 1040). Online taxes h&rblock   Hay ciertas circunstancias bajo las cuales usted tal vez no tenga que presentar el Formulario 8949 ni el Anexo D (Formulario 1040). Online taxes h&rblock Excepción 1. Online taxes h&rblock   Usted no tiene que presentar el Formulario 8949 ni el Anexo D (Formulario 1040) si no tiene pérdidas de capital y sus únicas ganancias de capital son distribuciones de ganancia de capital correspondientes al (los) recuadro(s) 2a del (de los) Formulario(s) 1099-DIV (o declaraciones sustitutivas). Online taxes h&rblock (Si alguno de los Formularios 1099-DIV (o declaraciones sustitutivas) que usted recibe indica una cifra en el recuadro 2b (ganancias no recuperadas conforme a la sección 1250), el recuadro 2c (ganancias conforme a la sección 1202) o el recuadro 2d (ganancias (tasas de 28%) por la venta de objetos coleccionables, usted no reúne los requisitos para esta excepción). Online taxes h&rblock Si reúne los requisitos para esta excepción, declare sus distribuciones de ganancia de capital directamente en la línea 13 del Formulario 1040 y marque el recuadro en la línea 13. Online taxes h&rblock También debe utillizar la Qualified Dividends and Capital Gain Tax Worksheet (Hoja de trabajo para impuestos sobre dividendos y ganancias de capital), que encontrará en las Instrucciones del Formulario 1040, para calcular su impuesto. Online taxes h&rblock Usted pede declarar sus distribuciones de ganancias de capital en la línea 10 del Formulario 1040A, en vez del Formulario 1040, si ninguno de los Formularios 1099-DIV (o declaraciones sustitutivas) que usted recibió indica una cifra en los recuadros 2b, 2c o 2d y usted no tiene que presentar el Formulario 1040. Online taxes h&rblock Excepción 2. Online taxes h&rblock   Usted tiene que presentar el Anexo D (Formulario 1040), pero por lo general no tiene que presentar el Formulario 8949 si la Excepción 1 no le corresponde y sus únicas ganancias y pérdidas de capital son: Distribuciones de ganancias de capital; Una pérdida de capital trasladada de un año anterior; Una ganancia correspondiente al Formulario 2439 ó 6252, o de la Parte I del Formulario 4797; Una ganancia o pérdida correspondiente al Formulario 4684, 6781 u 8824; Una ganancia o pérdida de una sociedad colectiva, sociedad anónima de tipo S, un caudal hereditario o fideicomiso; Ganancias y pérdidas de transacciones por las cuales usted recibió el Formulario 1099-B (o un documento sustitutivo), el cual muestra las bases informadas al IRS y por lo cual no necesita hacer ningún ajuste en la columna (g) del Formulario 8949 ni anotar ningún código en la columna (f) del Formulario 8949. Online taxes h&rblock Ventas a plazos. Online taxes h&rblock   No puede utilizar el método de pago a plazos para declarar una ganancia proveniente de la venta de acciones o valores bursátiles cotizados en un mercado de valores bursátiles establecido. Online taxes h&rblock Tiene que declarar la totalidad de la ganancia en el año de la venta (el año en el que ocurra la fecha de canje). Online taxes h&rblock Ganancias y pérdidas provenientes de una actividad pasiva. Online taxes h&rblock    Si tiene pérdidas o ganancias provenientes de una actividad pasiva, es posible que tenga que declararlas también en el Formulario 8582. Online taxes h&rblock En ciertos casos, la pérdida puede ser limitada conforme a las reglas de actividad pasiva. Online taxes h&rblock Consulte el Formulario 8582 y sus instrucciones correspondientes por separado para obtener información adicional sobre la declaración de ganancias y pérdidas de capital producto de una actividad pasiva. Online taxes h&rblock Transacciones que se declaran en el Formulario 1099-B. Online taxes h&rblock   Si vendió bienes, como acciones, bonos o ciertos productos de consumo bursátiles, a través de un agente corredor bursátil, éste debe entregarle un Formulario 1099-B o documento sustitutivo. Online taxes h&rblock Utilice el Formulario 1099-B o el documento sustitutivo para completar el Formulario 8949. Online taxes h&rblock Si usted vendió un valor bursátil garantizado en 2013, su agente corredor bursátil le mandará un Formulario 1099-B (o declaración sustitutiva) que le indica la base. Online taxes h&rblock Esto le ayudará a completar el Formulario 8949. Online taxes h&rblock Por lo general, los valores bursátiles garantizados son aquéllos que usted adquirió después del año 2010. Online taxes h&rblock   Declare las ganancias brutas que aparezcan en el recuadro 2a del Formulario 1099-B como el precio de venta en la columna (d) de la Parte I o la Parte II del Formulario 8949, según le corresponda a su caso. Online taxes h&rblock No obstante, si el agente corredor bursátil indica, en el recuadro 2a del Formulario 1099-B, haber declarado al IRS las ganancias brutas (precio de venta) menos comisiones y primas de opciones, anote el precio neto de venta resultante en la columna (d) de la Parte I o de la Parte II del Formulario 8949, según le corresponda a su caso. Online taxes h&rblock   Incluya en la columna (g) todo gasto de venta, tal como honorarios de agente corredor bursátil, comisiones, impuestos de traspaso locales y estatales y primas de opciones, a menos que usted haya declarado el precio neto de venta en la columna (d). Online taxes h&rblock Si incluye un gasto de venta en la columna (g), anote “E” en la columna (f). Online taxes h&rblock Transacciones que se declaran en el Formulario 1099-CAP. Online taxes h&rblock   Si es dueño de acciones de una sociedad anónima en cuyo control o estructura de capital haya habido cambios importantes, dicha sociedad debe enviarle el Formulario 1099-CAP o documento sustitutivo. Online taxes h&rblock Utilice el Formulario 1099-CAP o documento sustitutivo para completar el Formulario 8949. Online taxes h&rblock Si sus cálculos indican que, debido al cambio, usted tendría una pérdida, no anote ninguna cantidad en el Formulario 8949 ni en el Anexo D (Formulario 1040). Online taxes h&rblock Esta transacción no le da la posibilidad de declarar una pérdida en el Anexo D (Formulario 1040). Online taxes h&rblock   Declare el total de la cantidad recibida indicado en el recuadro 2 del Formulario 1099-CAP como el precio de venta en la columna (d) de la Parte I o de la Parte II del Formulario 8949, según le corresponda a su caso. Online taxes h&rblock Transacciones que se declaran en el Formulario 1099-S. Online taxes h&rblock   Si vendió o canjeó bienes raíces que han de declararse, normalmente la persona encargada de comunicar transacciones de bienes raíces debe entregarle un Formulario 1099-S en el que se indiquen las ganancias brutas. Online taxes h&rblock    “Bienes raíces que han de declararse” son toda participación en una propiedad actual o futura en cualesquiera de los siguientes casos: Terrenos con o sin mejoras, incluido el espacio aéreo; Estructuras intrínsecamente permanentes, incluido todo edificio residencial, comercial o industrial; Una unidad de condominio y sus instalaciones accesorias y elementos comunes, incluido el terreno; y Acciones de cooperativa de viviendas en sociedad anónima (como se define en la sección 216 del Código de Impuestos Internos). Online taxes h&rblock   Una “persona encargada de comunicar transacciones de bienes raíces” puede ser el abogado del comprador, el abogado de usted, una compañía de escrituras de propiedad o de cuentas en depósito, un prestamista hipotecario, el agente corredor bursátil de usted, el agente corredor bursátil del comprador o la persona que adquiera la mayor participación en la propiedad. Online taxes h&rblock   El Formulario 1099-S indicará las ganancias brutas de la venta o el intercambio en el recuadro 2. Online taxes h&rblock Consulte las Instrucciones para el Formulario 8949 y las Instrucciones para el Anexo D (Formulario 1040) para saber cómo se declaran estas transacciones e incluirlas en la Parte I o Parte II del Formulario 8949, tal como le corresponda a su caso. Online taxes h&rblock No obstante, declare los intercambios por bienes del mismo tipo en el Formulario 8824. Online taxes h&rblock   Es ilegal que una persona encargada de comunicar transacciones de bienes raíces le cobre un cargo por separado por cumplir con el requisito de presentación del Formulario 1099-S. Online taxes h&rblock Nominatarios. Online taxes h&rblock   Si recibe ganancias brutas como nominatario (es decir, las ganancias brutas están a nombre suyo pero en realidad pertenecen a otra persona), vea las Instrucciones para el Formulario 8949, para saber cómo declarar estas cantidades en el Formulario 8949. Online taxes h&rblock Presente el Formulario 1099-B o el Formulario 1099-S al IRS. Online taxes h&rblock   Si recibió ganancias brutas en calidad de nominatario en 2013, tiene que presentar al IRS el Formulario 1099-B o el Formulario 1099-S correspondiente a dichas ganancias. Online taxes h&rblock Envíe el Formulario 1099-B o el Formulario 1099-S junto con el Formulario 1096, Annual Summary and Transmittal of U. Online taxes h&rblock S. Online taxes h&rblock Information Returns (Resumen e informe anual de declaraciones informativas de los Estados Unidos), en inglés, al Centro de Servicio del Servicio de Impuestos Internos que le corresponda a más tardar el 28 de febrero de 2014 (31 de marzo de 2014, si presenta el Formulario 1099-B o el Formulario 1099-S por vía electrónica). Online taxes h&rblock Entregue la Copia B del Formulario 1099-B o del Formulario 1099-S al verdadero dueño de dichas ganancias a más tardar el 18 de febrero de 2014. Online taxes h&rblock En el Formulario 1099-B, usted debe constar como “Payer” (Pagador). Online taxes h&rblock El otro dueño debe constar como “Recipient” (Destinatario). Online taxes h&rblock En el Formulario 1099-S, usted debe constar como “Filer” (Declarante). Online taxes h&rblock El otro dueño debe constar como “Transferor” (Cesionista). Online taxes h&rblock No obstante, usted no tiene que presentar el Formulario 1099-B ni el Formulario 1099-S para mostrar las ganancias de su cónyuge. Online taxes h&rblock Para más información acerca de los requisitos de presentación de ciertas declaraciones informativas y las multas por no presentar (o facilitar) dichas declaraciones, vea las General Instructions for Certain Information Returns (Instrucciones generales para determinadas declaraciones informativas), en inglés. Online taxes h&rblock Si presenta la declaración electrónicamente, vea la Publicación 1220, en inglés. Online taxes h&rblock Venta de bienes comprados en diferentes ocasiones. Online taxes h&rblock   Si vende un paquete de acciones u otros bienes que haya comprado en diferentes ocasiones, declare la pérdida o ganancia a corto plazo procedente de la venta en una fila de la Parte I del Formulario 8949 y anote la pérdida o ganancia a largo plazo en una fila de la Parte II del Formulario 8949. Online taxes h&rblock Escriba “Various” (Varios) en la columna (b) para la “Date acquired” (Fecha de adquisición). Online taxes h&rblock Gastos de venta. Online taxes h&rblock    En la columna (g) del Formulario 8949, incluya todo gasto de venta, como honorarios de agentes corredores bursátiles, comisiones, impuestos estatales y locales sobre traspasos y primas de opciones, a menos que usted haya declarado el precio neto de ventas en la columna (d). Online taxes h&rblock Si usted incluyó un gasto de venta en la columna (g), anote “E” en la columna (f). Online taxes h&rblock   Para más información sobre los ajustes a la base, vea el capítulo 13. Online taxes h&rblock Ganancias y pérdidas a corto plazo. Online taxes h&rblock   Las ganancias o pérdidas de capital sobre la venta o canje de bienes de inversión que haya tenido por 1 año o menos se consideran pérdidas o ganancias de capital a corto plazo. Online taxes h&rblock Declárelas en la Parte I del Formulario 8949. Online taxes h&rblock   Sume su parte de pérdidas o ganancias de capital a corto plazo provenientes de sociedades colectivas, sociedades anónimas de tipo S, caudales hereditarios y fideicomisos, además de toda pérdida de capital a corto plazo que se haya trasladado de un año anterior, con las demás ganancias y pérdidas de capital a corto plazo para calcular la pérdida o ganancia de capital neta a corto plazo en la línea 7 del Anexo D (Formulario 1040). Online taxes h&rblock Ganancias y pérdidas a largo plazo. Online taxes h&rblock    Una ganancia o pérdida de capital sobre la venta o canje de bienes de inversión que haya tenido durante más de 1 año se considera ganancia o pérdida de capital a largo plazo. Online taxes h&rblock Declárela en la Parte II del Formulario 8949. Online taxes h&rblock   Usted debe declarar lo siguiente en la Parte II del Anexo D (Formulario 1040): Ganancias de capital a largo plazo de un fondo mutuo (u otra sociedad inversionista reglamentada) o de una sociedad de inversión inmobiliaria (REIT, por sus siglas en inglés) que no hayan sido distribuidas; Su participación de las ganancias y pérdidas de capital a largo plazo de sociedades colectivas, sociedades anónimas de tipo S, caudales hereditarios y fideicomisos; Toda distribución de ganancia de capital proveniente de fondos mutuos y sociedades de inversión inmobiliaria (REIT) que no se haya declarado directamente en la línea 10 del Formulario 1040A o la línea 13 del Formulario 1040; y Pérdidas de capital a largo plazo trasladadas de un año anterior. Online taxes h&rblock    El resultado que se dé después de sumar dichas cantidades con las demás ganancias de capital a largo plazo y restar las pérdidas de capital a largo plazo es la ganancia o pérdida de capital neta a largo plazo (línea 15 del Anexo D (Formulario 1040)). Online taxes h&rblock Total de la ganancia o pérdida neta. Online taxes h&rblock   Para calcular el total de la ganancia o pérdida neta, sume la ganancia o pérdida de capital neta a corto plazo (línea 7 del Anexo D (Formulario 1040)) con la pérdida o ganancia de capital neta a largo plazo (línea 15 del Anexo D (Formulario 1040)). Online taxes h&rblock Anote el resultado en la línea 16 de la Parte III del Anexo D (Formulario 1040). Online taxes h&rblock Si tiene pérdidas que sobrepasen las ganancias, vea Pérdidas de Capital , que se encuentra a continuación. Online taxes h&rblock Si las líneas 15 y 16 del Anexo D (Formulario 1040) son ganancias y el ingreso sujeto a impuestos en su Formulario 1040 es mayor de cero, vea Tasas Impositivas sobre Ganancias de Capital , más adelante. Online taxes h&rblock Pérdidas de Capital Si las pérdidas de capital son mayores que las ganancias de capital, se puede declarar una deducción por pérdida de capital. Online taxes h&rblock Declare la cantidad de la deducción en la línea 13 del Formulario 1040, anotándola entre paréntesis. Online taxes h&rblock Límite sobre la deducción. Online taxes h&rblock   La deducción por ganancia de capital permisible, calculada en el Anexo D (Formulario 1040), es la cantidad que sea menor de las siguientes: $3,000 ($1,500 si es casado y presenta una declaración por separado) o El total de la pérdida neta tal como aparece en la línea 16 del Anexo D (Formulario 1040). Online taxes h&rblock   Puede usar el total de la pérdida neta para reducir sus ingresos en una cantidad equivalente, hasta el límite de $3,000. Online taxes h&rblock Traslado de pérdida de capital. Online taxes h&rblock   Si el total de la pérdida neta en la línea 16 del Anexo D (Formulario 1040) sobrepasa el límite anual de las deducciones de pérdida de capital, puede trasladar al año siguiente la parte sobrante y tratarla como si hubiera incurrido en la misma durante ese próximo año. Online taxes h&rblock Si una parte de la pérdida sigue sin usarse, puede trasladarla a años posteriores hasta que se agote. Online taxes h&rblock   Cuando calcule una cantidad de pérdida de capital que se trasladará al año siguiente, tiene que tener en cuenta la deducción permisible del año en curso, la haya reclamado o no, e independientemente de si presentó o no una declaración correspondiente al año en curso. Online taxes h&rblock   Cuando traslade una pérdida a un año posterior, ésta sigue siendo una pérdida a largo plazo o corto plazo. Online taxes h&rblock Una pérdida de capital a largo plazo que usted traslade al año tributario siguiente reducirá las ganancias de capital a largo plazo de dicho año antes de reducir las ganancias de capital a corto plazo de dicho año. Online taxes h&rblock Cálculo de la cantidad trasladada al año siguiente. Online taxes h&rblock   La cantidad de la pérdida de capital a trasladarse al año siguiente es la cantidad de pérdida neta total que sea mayor que la cantidad menor entre: La deducción por pérdida de capital permisible durante el año o Sus ingresos sujetos a impuestos aumentados por la deducción por pérdida de capital permisible durante el año y la deducción por exenciones personales. Online taxes h&rblock   Si las deducciones son mayores que sus ingresos brutos del año tributario, utilice los ingresos negativos sujetos a impuestos al calcular la cantidad en el punto (2). Online taxes h&rblock    Complete la Capital Loss Carryover Worksheet (Hoja de trabajo para calcular la pérdida de capital a trasladarse a años posteriores) en las Instrucciones del Anexo D o la Publicación 550, en inglés, para calcular la parte de la pérdida de capital que se pueda trasladar. Online taxes h&rblock Ejemplo. Online taxes h&rblock Roberto y Gloria vendieron valores bursátiles en 2013. Online taxes h&rblock Las ventas dieron por resultado una pérdida de capital de $7,000. Online taxes h&rblock No hicieron otras transacciones de capital. Online taxes h&rblock Sus ingresos sujetos a impuestos fueron $26,000. Online taxes h&rblock En la declaración conjunta de 2013, pueden deducir $3,000. Online taxes h&rblock La parte de la pérdida que no usaron, $4,000 ($7,000 − $3,000), se puede trasladar a 2014. Online taxes h&rblock Si la pérdida de capital hubiera sido $2,000, la deducción por pérdida de capital también habría sido $2,000. Online taxes h&rblock No tendrían cantidad alguna a trasladar al año siguiente. Online taxes h&rblock Utilice primero las pérdidas a corto plazo. Online taxes h&rblock   Cuando calcule la cantidad a trasladarse al año siguiente, utilice primero las pérdidas de capital a corto plazo, aunque haya incurrido en las mismas después de una pérdida de capital a largo plazo. Online taxes h&rblock Si no ha alcanzado el límite de la deducción por pérdidas de capital después de haber utilizado las pérdidas de capital a corto plazo, utilice las pérdidas de capital a largo plazo hasta alcanzar el límite. Online taxes h&rblock Pérdida de capital de un difunto. Online taxes h&rblock    Una pérdida de capital sufrida por una persona en su último año tributario antes de fallecer (o que se haya traspasado de un año anterior a dicho año) se puede deducir sólo en la última declaración del impuesto sobre el ingreso personal que se presente a nombre del difunto. Online taxes h&rblock Los límites de pérdida de capital explicados anteriormente aún corresponden en este caso. Online taxes h&rblock El caudal hereditario (patrimonio) del difunto no puede deducir ninguna parte de la pérdida ni trasladarla a años posteriores. Online taxes h&rblock Declaraciones conjuntas y separadas. Online taxes h&rblock   Si antes usted y su cónyuge presentaban declaraciones por separado y ahora presentan una declaración conjunta, sume las cantidades de pérdida de capital que cada uno de ustedes haya trasladado a un año siguiente. Online taxes h&rblock No obstante, si antes usted y su cónyuge presentaban una declaración conjunta y ahora presentan declaraciones por separado, toda pérdida de capital que se haya trasladado a un año siguiente se puede deducir sólo en la declaración del cónyuge que de hecho sufrió la pérdida. Online taxes h&rblock Tasas Impositivas sobre Ganancias de Capital Las tasas impositivas correspondientes a una ganancia neta de capital suelen ser más bajas que las que corresponden a otros ingresos. Online taxes h&rblock Estas tasas reducidas se conocen como las “tasas máximas de ganancias de capital”. Online taxes h&rblock El término “ganancia neta de capital” designa la cantidad por la que la ganancia neta de capital a largo plazo del año supera la pérdida de capital neta a corto plazo. Online taxes h&rblock Para el año 2013, las tasas máximas correspondientes a ganancias de capital son 0%, 15%, 20%, 25% y 28%. Online taxes h&rblock Vea la Tabla 16-1, para obtener información detallada. Online taxes h&rblock Si para calcular el impuesto utiliza las tasas máximas correspondientes a ganancias de capital y el cálculo normal de impuestos le resulta en unos impuestos más bajos, el cálculo normal de impuestos es el que le corresponde. Online taxes h&rblock Ejemplo. Online taxes h&rblock Su ganancia neta de capital proviene en su totalidad de la venta de artículos coleccionables, por lo tanto, la tasa correspondiente a la ganancia de capital es 28%. Online taxes h&rblock Si de otro modo está sujeto a una tasa menor del 28%, la tasa del 28% no corresponde. Online taxes h&rblock Deducción de los intereses de inversiones. Online taxes h&rblock   Si declara una deducción de intereses de inversiones, tal vez tenga que reducir la cantidad de su ganancia neta de capital que reúna los requisitos para las tasas impositivas sobre ganancias de capital. Online taxes h&rblock Réstele la cantidad de la ganancia neta de capital que opte por incluir en los ingresos de inversiones al calcular el límite de la deducción de los mismos. Online taxes h&rblock Para hacer esto, se utiliza la Schedule D Tax Worksheet (Hoja de trabajo para los impuestos del Anexo D) en las Instrucciones para el Anexo D (Formulario 1040), en inglés, o la Qualified Dividends and Capital Gain Tax Worksheet (Hoja de trabajo para los impuestos sobre dividendos calificados y ganancias de capital), que se encuentra en las instrucciones por separado correspondientes a los Formularios 1040 y 1040A, en inglés. Online taxes h&rblock Para más información acerca del límite de los intereses procedentes de inversiones, vea Interest Expenses (Gastos de intereses) en el capítulo 3 de la Publicación 550, en inglés. Online taxes h&rblock Tabla 16-1. Online taxes h&rblock ¿Cuál es la Tasa Máxima de Ganancias de Capital que le Corresponde? SI la ganancia neta de capital se deriva de . Online taxes h&rblock . Online taxes h&rblock . Online taxes h&rblock ENTONCES la  tasa máxima de  ganancia de capital es . Online taxes h&rblock . Online taxes h&rblock . Online taxes h&rblock una ganancia producto de artículos coleccionables 28% una ganancia, la cual reúne los requisitos, sobre acciones de pequeños negocios calificados menos la exclusión conforme a la sección 1202 28% una ganancia conforme a la sección 1250 no recuperada 25% otra ganancia1 y la tasa impositiva normal correspondiente es 39. Online taxes h&rblock 6% 20% otra ganancia1 y la tasa impositiva normal correspondiente es 25%, 28%, 33% o 35% 15% otra ganancia1 y la tasa impositiva normal correspondiente es 10% o 15% 0% 1 El término “otra ganancia” significa toda ganancia que no sea una ganancia procedente de artículos coleccionables, ganancia sobre acciones de pequeños negocios calificados o una ganancia conforme a la sección 1250 no recuperada. Online taxes h&rblock     Ganancia o pérdida procedente de artículos coleccionables. Online taxes h&rblock   Ésta es una ganancia o pérdida que se deriva de la venta o canje de una obra de arte, alfombra, antigüedad, metal (como oro, plata y platino en barras), piedra preciosa, estampilla o sello, moneda o bebida alcohólica que haya tenido más de 1 año. Online taxes h&rblock   Se considera que una ganancia procedente de artículos coleccionables abarca las ganancias resultantes de la venta de una participación en una sociedad colectiva, sociedad anónima de tipo S o fideicomiso, generadas por una plusvalía no realizada de dichos artículos coleccionables. Online taxes h&rblock Ganancia sobre acciones de pequeños negocios calificados. Online taxes h&rblock    Si obtuvo una ganancia de acciones de pequeños negocios calificados y fue dueño de dichas acciones durante más de 5 años, normalmente puede excluir de los ingresos una parte o la totalidad de su ganancia bajo la sección 1202. Online taxes h&rblock La ganancia que cumple los requisitos, menos la exclusión conforme a la sección 1202, es una ganancia con una tasa de 28%. Online taxes h&rblock Vea Gains on Qualified Small Business Stock (Ganancias de acciones de pequeños negocios calificados) en el capítulo 4 de la Publicación 550, en inglés. Online taxes h&rblock Ganancia conforme a la sección 1250 no recuperada. Online taxes h&rblock    Por lo general, ésta es toda parte de la ganancia de capital que se haya originado por la venta de bienes conforme a la sección 1250 (bienes raíces) debido a depreciación (pero no más que la ganancia neta conforme a la sección 1231) menos toda pérdida neta en el grupo del 28%. Online taxes h&rblock Use la Unrecaptured Section 1250 Gain Worksheet (Hoja de trabajo de ganancias no recuperadas conforme a la sección 1250) de las Instrucciones del Anexo D (Formulario 1040), en inglés, para calcular la ganancia no recuperada conforme a la sección 1250. Online taxes h&rblock Para más información sobre bienes conforme a la sección 1250 y ganancias conforme a la sección 1231, vea el capítulo 3 de la Publicación 544, en inglés. Online taxes h&rblock Cálculo de los impuestos a base de las tasas máximas de ganancias de capital. Online taxes h&rblock   Utilice la Qualified Dividends and Capital Gain Tax Worksheet (Hoja de trabajo para los impuestos sobre dividendos calificados y ganancias de capital) o la Schedule D Tax Worksheet (Hoja de trabajo para los impuestos del Anexo D), la que corresponda, para calcular su impuesto si ha recibido dividendos calificados o ganancia neta de capital. Online taxes h&rblock Tiene ganancia neta de capital si las cantidades de las líneas 15 y 16 del Anexo D ambas son ganancias. Online taxes h&rblock Hoja de trabajo para los impuestos del Anexo D. Online taxes h&rblock   Utilice la Schedule D Tax Worksheet (Hoja de trabajo para los impuestos del Anexo D) que se encuentra en las Instrucciones del Anexo D (Formulario 1040) para calcular el impuesto si se dan las siguientes condiciones: Tiene que presentar el Anexo D (Formulario 1040) y La cantidad de la línea 18 (ganancia a una tasa de 28%) o la línea 19 (ganancia no recuperada conforme a la sección 1250) del Anexo D (Formulario 1040) es mayor de cero. Online taxes h&rblock Hoja de trabajo para el impuesto sobre dividendos calificados y ganancias de capital. Online taxes h&rblock   Utilice la Qualified Dividends and Capital Gain Tax Worksheet (Hoja de trabajo para el impuesto sobre los dividendos calificados y ganancias de capital) de las instrucciones del Formulario 1040 o Formulario 1040A (el que presente) para calcular el impuesto si no tiene que utilizar la Hoja de trabajo para los impuestos del Anexo D (como se explica anteriormente) y corresponde cualquiera de los siguientes puntos: Recibió dividendos calificados. Online taxes h&rblock (Vea Dividendos Calificados en el capítulo 8). Online taxes h&rblock No tiene que presentar el Anexo D (Formulario 1040) y recibió distribuciones de ganancias de capital. Online taxes h&rblock (Vea Excepciones a la presentación del Formulario 8949 y el Anexo D (Formulario 1040) , anteriormente). Online taxes h&rblock Las cantidades de las líneas 15 y 16 del Anexo D (Formulario 1040) son mayores de cero. Online taxes h&rblock Impuesto mínimo alternativo. Online taxes h&rblock   Estas tasas de ganancias de capital se utilizan también para calcular el impuesto mínimo alternativo. Online taxes h&rblock Prev  Up  Next   Home   More Online Publications
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Online taxes h&rblock 5. Online taxes h&rblock   Exemptions, Deductions, and Credits Table of Contents Topics - This chapter discusses: Useful Items - You may want to see: Items Related to Excluded Income Exemptions Contributions to Foreign Charitable Organizations Moving ExpensesAllocation of Moving Expenses Forms To File Contributions to Individual Retirement Arrangements Taxes of Foreign Countries and U. Online taxes h&rblock S. Online taxes h&rblock PossessionsCredit for Foreign Income Taxes Deduction for Foreign Income Taxes Deduction for Other Foreign Taxes How To Report Deductions Topics - This chapter discusses: The rules concerning items related to excluded income, Exemptions, Contributions to foreign charitable organizations, Moving expenses, Contributions to individual retirement arrangements (IRAs), Taxes of foreign countries and U. Online taxes h&rblock S. Online taxes h&rblock possessions, and How to report deductions. Online taxes h&rblock Useful Items - You may want to see: Publication 501 Exemptions, Standard Deduction, and Filing Information 514 Foreign Tax Credit for Individuals 521 Moving Expenses 523 Selling Your Home 590 Individual Retirement Arrangements (IRAs) 597 Information on the United States—Canada Income Tax Treaty Form (and Instructions) 1116 Foreign Tax Credit 2106 Employee Business Expenses 2555 Foreign Earned Income 2555-EZ Foreign Earned Income Exclusion 3903 Moving Expenses Schedule A (Form 1040) Itemized Deductions Schedule C (Form 1040) Profit or Loss From Business SS-5 Application for a Social Security Card W-7 Application for IRS Individual Taxpayer Identification Number See chapter 7 for information about getting these publications and forms. Online taxes h&rblock Items Related to Excluded Income U. Online taxes h&rblock S. Online taxes h&rblock citizens and resident aliens living outside the United States generally are allowed the same deductions as citizens and residents living in the United States. Online taxes h&rblock If you choose to exclude foreign earned income or housing amounts, you cannot deduct, exclude, or claim a credit for any item that can be allocated to or charged against the excluded amounts. Online taxes h&rblock This includes any expenses, losses, and other normally deductible items that are allocable to the excluded income. Online taxes h&rblock You can deduct only those expenses connected with earning includible income. Online taxes h&rblock These rules apply only to items definitely related to the excluded earned income and they do not apply to other items that are not definitely related to any particular type of gross income. Online taxes h&rblock These rules do not apply to items such as: Personal exemptions, Qualified retirement contributions, Alimony payments, Charitable contributions, Medical expenses, Mortgage interest, or Real estate taxes on your personal residence. Online taxes h&rblock For purposes of these rules, your housing deduction is not treated as allocable to your excluded income, but the deduction for self- employment tax is. Online taxes h&rblock If you receive foreign earned income in a tax year after the year in which you earned it, you may have to file an amended return for the earlier year to properly adjust the amounts of deductions, credits, or exclusions allocable to your foreign earned income and housing exclusions. Online taxes h&rblock Example. Online taxes h&rblock In 2012, you had $90,400 of foreign earned income and $9,500 of deductions allocable to your foreign earned income. Online taxes h&rblock You did not have a housing exclusion. Online taxes h&rblock Because you excluded all of your foreign earned income, you would not have been able to claim any of the deductions on your 2012 return. Online taxes h&rblock In 2013, you received a $12,000 bonus for work you did abroad in 2012. Online taxes h&rblock You can exclude $4,700 of the bonus because the limit on the foreign earned income exclusion for 2012 was $95,100 and you have already excluded $90,400. Online taxes h&rblock Since you must include $7,300 of the bonus ($12,000 − $4,700) for work you did in 2012 in income, you can file an amended return for 2012 to claim $677 of the deductions. Online taxes h&rblock This is the deductions allocable to the foreign earned income ($9,500) multiplied by the includible portion of the foreign earned income ($7,300) and divided by the total foreign earned income for 2012 ($102,400). Online taxes h&rblock Exemptions You can claim an exemption for your nonresident alien spouse on your separate return, provided your spouse has no gross income for U. Online taxes h&rblock S. Online taxes h&rblock tax purposes and is not the dependent of another U. Online taxes h&rblock S. Online taxes h&rblock taxpayer. Online taxes h&rblock You also can claim exemptions for individuals who qualify as your dependents. Online taxes h&rblock To be your dependent, the individual must be a U. Online taxes h&rblock S. Online taxes h&rblock citizen, U. Online taxes h&rblock S. Online taxes h&rblock national, U. Online taxes h&rblock S. Online taxes h&rblock resident alien, or a resident of Canada or Mexico for some part of the calendar year in which your tax year begins. Online taxes h&rblock Children. Online taxes h&rblock   Children usually are citizens or residents of the same country as their parents. Online taxes h&rblock If you were a U. Online taxes h&rblock S. Online taxes h&rblock citizen when your child was born, your child generally is a U. Online taxes h&rblock S. Online taxes h&rblock citizen. Online taxes h&rblock This is true even if the child's other parent is a nonresident alien, the child was born in a foreign country, and the child lives abroad with the other parent. Online taxes h&rblock   If you have a legally adopted child who is not a U. Online taxes h&rblock S. Online taxes h&rblock citizen, U. Online taxes h&rblock S. Online taxes h&rblock resident, or U. Online taxes h&rblock S. Online taxes h&rblock national, the child meets the citizen requirement if you are a U. Online taxes h&rblock S. Online taxes h&rblock citizen or U. Online taxes h&rblock S. Online taxes h&rblock national and the child lived with you as a member of your household all year. Online taxes h&rblock Social security number. Online taxes h&rblock   You must include on your return the social security number (SSN) of each dependent for whom you claim an exemption. Online taxes h&rblock To get a social security number for a dependent, apply at a Social Security office or U. Online taxes h&rblock S. Online taxes h&rblock consulate. Online taxes h&rblock You must provide original or certified copies of documents to verify the dependent's age, identity, and citizenship, and complete Form SS-5. Online taxes h&rblock   If you do not have an SSN for a child who was born in 2013 and died in 2013, attach a copy of the child's birth certificate to your tax return. Online taxes h&rblock Print “Died” in column (2) of line 6c of your Form 1040 or Form 1040A. Online taxes h&rblock   If your dependent is a nonresident alien who is not eligible to get a social security number, you must list the dependent's individual taxpayer identification number (ITIN) instead of an SSN. Online taxes h&rblock To apply for an ITIN, file Form W-7 with the IRS. Online taxes h&rblock It usually takes 6 to 10 weeks to get an ITIN. Online taxes h&rblock Enter your dependent's ITIN wherever an SSN is requested on your tax return. Online taxes h&rblock More information. Online taxes h&rblock   For more information about exemptions, see Publication 501. Online taxes h&rblock Contributions to Foreign Charitable Organizations If you make contributions directly to a foreign church or other foreign charitable organization, you generally cannot deduct them. Online taxes h&rblock Exceptions are explained under Canadian, Mexican, and Israeli charities, later. Online taxes h&rblock You can deduct contributions to a U. Online taxes h&rblock S. Online taxes h&rblock organization that transfers funds to a charitable foreign organization if the U. Online taxes h&rblock S. Online taxes h&rblock organization controls the use of the funds by the foreign organization or if the foreign organization is just an administrative arm of the U. Online taxes h&rblock S. Online taxes h&rblock organization. Online taxes h&rblock Canadian, Mexican, and Israeli charities. Online taxes h&rblock   Under the income tax treaties with Canada, Mexico and Israel, you may be able to deduct contributions to certain Canadian, Mexican, and Israeli charitable organizations. Online taxes h&rblock Generally, you must have income from sources in Canada, Mexico, or Israel, and the organization must meet certain requirements. Online taxes h&rblock See Publication 597, Information on the United States-Canada Income Tax Treaty, and Publication 526, Charitable Contributions, for more information. Online taxes h&rblock Moving Expenses If you moved to a new home in 2013 because of your job or business, you may be able to deduct the expenses of your move. Online taxes h&rblock Generally, to be deductible, the moving expenses must have been paid or incurred in connection with starting work at a new job location. Online taxes h&rblock See Publication 521 for a complete discussion of the deduction for moving expenses and information about moves within the United States. Online taxes h&rblock Foreign moves. Online taxes h&rblock   A foreign move is a move in connection with the start of work at a new job location outside the United States and its possessions. Online taxes h&rblock A foreign move does not include a move back to the United States or its possessions. Online taxes h&rblock Allocation of Moving Expenses When your new place of work is in a foreign country, your moving expenses are directly connected with the income earned in that foreign country. Online taxes h&rblock If you exclude all or part of the income that you earn at the new location under the foreign earned income exclusion or the foreign housing exclusion, you cannot deduct the part of your moving expense that is allocable to the excluded income. Online taxes h&rblock Also, you cannot deduct the part of the moving expense related to the excluded income for a move from a foreign country to the United States if you receive a reimbursement that you are able to treat as compensation for services performed in the foreign country. Online taxes h&rblock Year to which expense is connected. Online taxes h&rblock   The moving expense is connected with earning the income (including reimbursements, as discussed in chapter 4 under Reimbursement of moving expenses ) either entirely in the year of the move or in 2 years. Online taxes h&rblock It is connected with earning the income entirely in the year of the move if you qualify for the foreign earned income exclusion under the bona fide residence test or physical presence test for at least 120 days during that tax year. Online taxes h&rblock   If you do not qualify under either the bona fide residence test or the physical presence test for at least 120 days during the year of the move, the expense is connected with earning the income in 2 years. Online taxes h&rblock The moving expense is connected with the year of the move and the following year if the move is from the United States to a foreign country. Online taxes h&rblock The moving expense is connected with the year of the move and the preceding year if the move is from a foreign country to the United States. Online taxes h&rblock Amount allocable to excluded income. Online taxes h&rblock   To figure the amount of your moving expense that is allocable to your excluded foreign earned income (and not deductible), you must multiply your total moving expense deduction by a fraction. Online taxes h&rblock The numerator (top number) of the fraction is the total of your excluded foreign earned income and housing amounts for both years and the denominator (bottom number) of the fraction is your total foreign earned income for both years. Online taxes h&rblock Example. Online taxes h&rblock On November 1, 2012, you transfer to Monaco. Online taxes h&rblock Your tax home is in Monaco, and you are a bona fide resident of Monaco for the entire tax year 2013. Online taxes h&rblock In 2012, you paid $6,000 for allowable moving expenses for your move from the United States to Monaco. Online taxes h&rblock You were fully reimbursed (under a nonaccountable plan) for these expenses in the same year. Online taxes h&rblock The reimbursement is included in your income. Online taxes h&rblock Your only other income consists of $16,000 wages earned in 2012 after the date of your move, and $100,100 wages earned in Monaco for 2013. Online taxes h&rblock Because you did not meet the bona fide residence test for at least 120 days during 2012, the year of the move, the moving expenses are for services you performed in both 2012 and the following year, 2013. Online taxes h&rblock Your total foreign earned income for both years is $122,100, consisting of $16,000 wages for 2012, $100,100 wages for 2013, and $6,000 moving expense reimbursement for both years. Online taxes h&rblock You have no housing exclusion. Online taxes h&rblock The total amount you can exclude is $113,190, consisting of the $97,600 full-year exclusion for 2013 and a $15,590 part-year exclusion for 2012 ($95,100 times the fraction of 60 qualifying bona fide residence days over 366 total days in the year). Online taxes h&rblock To find the part of your moving expenses that is not deductible, multiply your $6,000 total expenses by the fraction $113,190 over $122,100. Online taxes h&rblock The result, $5,562, is your nondeductible amount. Online taxes h&rblock    You must report the full amount of the moving expense reimbursement in the year in which you received the reimbursement. Online taxes h&rblock In the preceding example, this year was 2012. Online taxes h&rblock You attribute the reimbursement to both 2012 and 2013 only to figure the amount of foreign earned income eligible for exclusion for each year. Online taxes h&rblock Move between foreign countries. Online taxes h&rblock   If you move between foreign countries, your moving expense is allocable to income earned in the year of the move if you qualified under either the bona fide residence test or the physical presence test for a period that includes at least 120 days in the year of the move. Online taxes h&rblock New place of work in U. Online taxes h&rblock S. Online taxes h&rblock   If your new place of work is in the United States, the deductible moving expenses are directly connected with the income earned in the United States. Online taxes h&rblock If you treat a reimbursement from your employer as foreign earned income (see the discussion in chapter 4), you must allocate deductible moving expenses to foreign earned income. Online taxes h&rblock Storage expenses. Online taxes h&rblock   These expenses are attributable to work you do during the year in which you incur the storage expenses. Online taxes h&rblock You cannot deduct the amount allocable to excluded income. Online taxes h&rblock Moving Expense Attributable to Foreign Earnings in 2 Years If your moving expense deduction is attributable to your foreign earnings in 2 years (the year of the move and the following year), you should request an extension of time to file your return for the year of the move until after the end of the second year. Online taxes h&rblock By then, you should have all the information needed to properly figure the moving expense deduction. Online taxes h&rblock See Extensions under When To File and Pay in chapter 1. Online taxes h&rblock If you do not request an extension, you should figure the part of the moving expense that you cannot deduct because it is allocable to the foreign earned income you are excluding. Online taxes h&rblock You do this by multiplying the moving expense by a fraction, the numerator (top number) of which is your excluded foreign earned income for the year of the move, and the denominator (bottom number) of which is your total foreign earned income for the year of the move. Online taxes h&rblock Once you know your foreign earnings and exclusion for the following year, you must either: Adjust the moving expense deduction by filing an amended return for the year of the move, or Recapture any additional unallowable amount as income on your return for the following year. Online taxes h&rblock If, after you make the final computation, you have an additional amount of allowable moving expense deduction, you can claim this only on an amended return for the year of the move. Online taxes h&rblock You cannot claim it on the return for the second year. Online taxes h&rblock Forms To File Report your moving expenses on Form 3903. Online taxes h&rblock Report your moving expense deduction on line 26 of Form 1040. Online taxes h&rblock If you must reduce your moving expenses by the amount allocable to excluded income (as explained later under How To Report Deductions ), attach a statement to your return showing how you figured this amount. Online taxes h&rblock For more information about figuring moving expenses, see Publication 521. Online taxes h&rblock Contributions to Individual Retirement Arrangements Contributions to your individual retirement arrangements (IRAs) that are traditional IRAs or Roth IRAs are generally limited to the lesser of $5,500 ($6,500 if 50 or older) or your compensation that is includible in your gross income for the tax year. Online taxes h&rblock In determining compensation for this purpose, do not take into account amounts you exclude under either the foreign earned income exclusion or the foreign housing exclusion. Online taxes h&rblock Do not reduce your compensation by the foreign housing deduction. Online taxes h&rblock If you are covered by an employer retirement plan at work, your deduction for your contributions to your traditional IRAs is generally limited based on your modified adjusted gross income. Online taxes h&rblock This is your adjusted gross income figured without taking into account the foreign earned income exclusion, the foreign housing exclusion, or the foreign housing deduction. Online taxes h&rblock Other modifications are also required. Online taxes h&rblock For more information on IRAs, see Publication 590. Online taxes h&rblock Taxes of Foreign Countries and U. Online taxes h&rblock S. Online taxes h&rblock Possessions You can take either a credit or a deduction for income taxes paid to a foreign country or a U. Online taxes h&rblock S. Online taxes h&rblock possession. Online taxes h&rblock Taken as a deduction, foreign income taxes reduce your taxable income. Online taxes h&rblock Taken as a credit, foreign income taxes reduce your tax liability. Online taxes h&rblock You must treat all foreign income taxes the same way. Online taxes h&rblock If you take a credit for any foreign income taxes, you cannot deduct any foreign income taxes. Online taxes h&rblock However, you may be able to deduct other foreign taxes. Online taxes h&rblock See Deduction for Other Foreign Taxes, later. Online taxes h&rblock There is no rule to determine whether it is to your advantage to take a deduction or a credit for foreign income taxes. Online taxes h&rblock In most cases, it is to your advantage to take foreign income taxes as a tax credit, which you subtract directly from your U. Online taxes h&rblock S. Online taxes h&rblock tax liability, rather than as a deduction in figuring taxable income. Online taxes h&rblock However, if foreign income taxes were imposed at a high rate and the proportion of foreign income to U. Online taxes h&rblock S. Online taxes h&rblock income is small, a lower final tax may result from deducting the foreign income taxes. Online taxes h&rblock In any event, you should figure your tax liability both ways and then use the one that is better for you. Online taxes h&rblock You can make or change your choice within 10 years from the due date for filing the tax return on which you are entitled to take either the deduction or the credit. Online taxes h&rblock Foreign income taxes. Online taxes h&rblock   These are generally income taxes you pay to any foreign country or possession of the United States. Online taxes h&rblock Foreign income taxes on U. Online taxes h&rblock S. Online taxes h&rblock return. Online taxes h&rblock   Foreign income taxes can only be taken as a credit on Form 1040, line 47, or as an itemized deduction on Schedule A. Online taxes h&rblock These amounts cannot be included as withheld income taxes on Form 1040, line 62. Online taxes h&rblock Foreign taxes paid on excluded income. Online taxes h&rblock   You cannot take a credit or deduction for foreign income taxes paid on earnings you exclude from tax under any of the following. Online taxes h&rblock Foreign earned income exclusion. Online taxes h&rblock Foreign housing exclusion. Online taxes h&rblock Possession exclusion. Online taxes h&rblock If your wages are completely excluded, you cannot deduct or take a credit for any of the foreign taxes paid on your wages. Online taxes h&rblock   If only part of your wages is excluded, you cannot deduct or take a credit for the foreign income taxes allocable to the excluded part. Online taxes h&rblock You find the taxes allocable to your excluded wages by applying a fraction to the foreign taxes paid on foreign earned income received during the tax year. Online taxes h&rblock The numerator (top number) of the fraction is your excluded foreign earned income received during the tax year minus deductible expenses allocable to that income (not including the foreign housing deduction). Online taxes h&rblock The denominator (bottom number) of the fraction is your total foreign earned income received during the tax year minus all deductible expenses allocable to that income (including the foreign housing deduction). Online taxes h&rblock   If foreign law taxes both earned income and some other type of income and the taxes on the other type cannot be separated, the denominator of the fraction is the total amount of income subject to foreign tax minus deductible expenses allocable to that income. Online taxes h&rblock    If you take a foreign tax credit for tax on income you could have excluded under your choice to exclude foreign earned income or your choice to exclude foreign housing costs, one or both of the choices may be considered revoked. Online taxes h&rblock Credit for Foreign Income Taxes If you take the foreign tax credit, you may have to file Form 1116 with Form 1040. Online taxes h&rblock Form 1116 is used to figure the amount of foreign tax paid or accrued that can be claimed as a foreign tax credit. Online taxes h&rblock Do not include the amount of foreign tax paid or accrued as withheld federal income taxes on Form 1040, line 62. Online taxes h&rblock The foreign income tax for which you can claim a credit is the amount of legal and actual tax liability you pay or accrue during the year. Online taxes h&rblock The amount for which you can claim a credit is not necessarily the amount withheld by the foreign country. Online taxes h&rblock You cannot take a foreign tax credit for income tax you paid to a foreign country that would be refunded by the foreign country if you made a claim for refund. Online taxes h&rblock Subsidies. Online taxes h&rblock   If a foreign country returns your foreign tax payments to you in the form of a subsidy, you cannot claim a foreign tax credit based on these payments. Online taxes h&rblock This rule applies to a subsidy provided by any means that is determined, directly or indirectly, by reference to the amount of tax, or to the base used to figure the tax. Online taxes h&rblock   Some ways of providing a subsidy are refunds, credits, deductions, payments, or discharges of obligations. Online taxes h&rblock A credit is also not allowed if the subsidy is given to a person related to you, or persons who participated in a transaction or a related transaction with you. Online taxes h&rblock Limit The foreign tax credit is limited to the part of your total U. Online taxes h&rblock S. Online taxes h&rblock tax that is in proportion to your taxable income from sources outside the United States compared to your total taxable income. Online taxes h&rblock The allowable foreign tax credit cannot be more than your actual foreign tax liability. Online taxes h&rblock Exemption from limit. Online taxes h&rblock   You will not be subject to this limit and will not have to file Form 1116 if you meet all three of the following requirements. Online taxes h&rblock Your only foreign source income for the year is passive income (dividends, interest, royalties, etc. Online taxes h&rblock ) that is reported to you on a payee statement (such as a Form 1099-DIV or 1099-INT). Online taxes h&rblock Your foreign taxes for the year that qualify for the credit are not more than $300 ($600 if you are filing a joint return) and are reported on a payee statement. Online taxes h&rblock You elect this procedure. Online taxes h&rblock If you make this election, you cannot carry back or carry over any unused foreign tax to or from this year. Online taxes h&rblock Separate limit. Online taxes h&rblock   You must figure the limit on a separate basis with regard to “passive category income” and “general category income” (see the instructions for Form 1116). Online taxes h&rblock Figuring the limit. Online taxes h&rblock   In figuring taxable income in each category, you take into account only the amount that you must include in income on your federal tax return. Online taxes h&rblock Do not take any excluded amount into account. Online taxes h&rblock   To determine your taxable income in each category, deduct expenses and losses that are definitely related to that income. Online taxes h&rblock   Other expenses (such as itemized deductions or the standard deduction) not definitely related to specific items of income must be apportioned to the foreign income in each category by multiplying them by a fraction. Online taxes h&rblock The numerator (top number) of the fraction is your gross foreign income in the separate limit category. Online taxes h&rblock The denominator (bottom number) of the fraction is your gross income from all sources. Online taxes h&rblock For this purpose, gross income includes income that is excluded under the foreign earned income provisions but does not include any other exempt income. Online taxes h&rblock You must use special rules for deducting interest expenses. Online taxes h&rblock For more information on allocating and apportioning your deductions, see Publication 514. Online taxes h&rblock Exemptions. Online taxes h&rblock   Do not take the deduction for exemptions for yourself, your spouse, or your dependents in figuring taxable income for purposes of the limit. Online taxes h&rblock Recapture of foreign losses. Online taxes h&rblock   If you have an overall foreign loss and the loss reduces your U. Online taxes h&rblock S. Online taxes h&rblock source income (resulting in a reduction of your U. Online taxes h&rblock S. Online taxes h&rblock tax liability), you must recapture the loss in later years when you have taxable income from foreign sources. Online taxes h&rblock This is done by treating a part of your taxable income from foreign sources in later years as U. Online taxes h&rblock S. Online taxes h&rblock source income. Online taxes h&rblock This reduces the numerator of the limiting fraction and the resulting foreign tax credit limit. Online taxes h&rblock Recapture of domestic losses. Online taxes h&rblock   If you have an overall domestic loss (resulting in no U. Online taxes h&rblock S. Online taxes h&rblock tax liability), you cannot claim a foreign tax credit for taxes paid during that year. Online taxes h&rblock You must recapture the loss in later years when you have U. Online taxes h&rblock S. Online taxes h&rblock source taxable income. Online taxes h&rblock This is done by treating a part of your taxable income from U. Online taxes h&rblock S. Online taxes h&rblock sources in later years as foreign source income. Online taxes h&rblock This increases the numerator of the limiting fraction and the resulting foreign tax credit limit. Online taxes h&rblock Foreign tax credit carryback and carryover. Online taxes h&rblock   The amount of foreign income tax not allowed as a credit because of the limit can be carried back 1 year and carried forward 10 years. Online taxes h&rblock   More information on figuring the foreign tax credit can be found in Publication 514. Online taxes h&rblock Deduction for Foreign Income Taxes Instead of taking the foreign tax credit, you can deduct foreign income taxes as an itemized deduction on Schedule A (Form 1040). Online taxes h&rblock You can deduct only foreign income taxes paid on income that is subject to U. Online taxes h&rblock S. Online taxes h&rblock tax. Online taxes h&rblock You cannot deduct foreign taxes paid on earnings you exclude from tax under any of the following. Online taxes h&rblock Foreign earned income exclusion. Online taxes h&rblock Foreign housing exclusion. Online taxes h&rblock Possession exclusion. Online taxes h&rblock Example. Online taxes h&rblock You are a U. Online taxes h&rblock S. Online taxes h&rblock citizen and qualify to exclude your foreign earned income. Online taxes h&rblock Your excluded wages in Country X are $70,000 on which you paid income tax of $10,000. Online taxes h&rblock You received dividends from Country X of $2,000 on which you paid income tax of $600. Online taxes h&rblock You can deduct the $600 tax payment because the dividends relating to it are subject to U. Online taxes h&rblock S. Online taxes h&rblock tax. Online taxes h&rblock Because you exclude your wages, you cannot deduct the income tax of $10,000. Online taxes h&rblock If you exclude only a part of your wages, see the earlier discussion under Foreign taxes paid on excluded income. Online taxes h&rblock Deduction for Other Foreign Taxes You can deduct real property taxes you pay that are imposed on you by a foreign country. Online taxes h&rblock You take this deduction on Schedule A (Form 1040). Online taxes h&rblock You cannot deduct other foreign taxes, such as personal property taxes, unless you incurred the expenses in a trade or business or in the production of income. Online taxes h&rblock On the other hand, you generally can deduct personal property taxes when you pay them to U. Online taxes h&rblock S. Online taxes h&rblock possessions. Online taxes h&rblock But if you claim the possession exclusion, see Publication 570. Online taxes h&rblock The deduction for foreign taxes other than foreign income taxes is not related to the foreign tax credit. Online taxes h&rblock You can take deductions for these miscellaneous foreign taxes and also claim the foreign tax credit for income taxes imposed by a foreign country. Online taxes h&rblock How To Report Deductions If you exclude foreign earned income or housing amounts, how you show your deductions on your tax return and how you figure the amount allocable to your excluded income depends on whether the expenses are used in figuring adjusted gross income (Form 1040, line 38) or are itemized deductions. Online taxes h&rblock If you have deductions used in figuring adjusted gross income, enter the total amount for each of these items on the appropriate lines and schedules of Form 1040. Online taxes h&rblock Generally, you figure the amount of a deduction related to the excluded income by multiplying the deduction by a fraction, the numerator of which is your foreign earned income exclusion and the denominator of which is your foreign earned income. Online taxes h&rblock Enter the amount of the deduction(s) related to excluded income on line 44 of Form 2555. Online taxes h&rblock If you have itemized deductions related to excluded income, enter on Schedule A (Form 1040) only the part not related to excluded income. Online taxes h&rblock You figure that amount by subtracting from the total deduction the amount related to excluded income. Online taxes h&rblock Generally, you figure the amount that is related to the excluded income by multiplying the total deduction by a fraction, the numerator of which is your foreign earned income exclusion and the denominator of which is your foreign earned income. Online taxes h&rblock Attach a statement to your return showing how you figured the deductible amount. Online taxes h&rblock Example 1. Online taxes h&rblock You are a U. Online taxes h&rblock S. Online taxes h&rblock citizen employed as an accountant. Online taxes h&rblock Your tax home is in Germany for the entire tax year. Online taxes h&rblock You meet the physical presence test. Online taxes h&rblock Your foreign earned income for the year was $122,000 and your investment income was $10,380. Online taxes h&rblock After excluding $97,600, your AGI is $34,780. Online taxes h&rblock You had unreimbursed business expenses of $2,500 for travel and entertainment in earning your foreign income, of which $500 was for meals and entertainment. Online taxes h&rblock These expenses are deductible only as miscellaneous deductions on Schedule A (Form 1040). Online taxes h&rblock You also have $500 of miscellaneous expenses that are not related to your foreign income that you enter on line 23 of Schedule A. Online taxes h&rblock You must fill out Form 2106. Online taxes h&rblock On that form, reduce your deductible meal and entertainment expenses by 50% ($250). Online taxes h&rblock You must reduce the remaining $2,250 of travel and entertainment expenses by 80% ($1,800) because you excluded 80% ($97,600/$122,000) of your foreign earned income. Online taxes h&rblock You carry the remaining total of $450 to line 21 of Schedule A. Online taxes h&rblock Add the $450 to the $500 that you have on line 23 and enter the total ($950) on line 24. Online taxes h&rblock On line 26 of Schedule A, enter $696, which is 2% of your adjusted gross income of $34,780 (line 38, Form 1040) and subtract it from the amount on line 24. Online taxes h&rblock Enter $254 on line 27 of Schedule A. Online taxes h&rblock Example 2. Online taxes h&rblock You are a U. Online taxes h&rblock S. Online taxes h&rblock citizen, have a tax home in Spain, and meet the physical presence test. Online taxes h&rblock You are self-employed and personal services produce the business income. Online taxes h&rblock Your gross income was $116,931, business expenses $66,895, and net income (profit) $50,036. Online taxes h&rblock You choose the foreign earned income exclusion and exclude $97,600 of your gross income. Online taxes h&rblock Since your excluded income is 83. Online taxes h&rblock 47% of your total income, 83. Online taxes h&rblock 47% of your business expenses are not deductible. Online taxes h&rblock Report your total income and expenses on Schedule C (Form 1040). Online taxes h&rblock On Form 2555 you will show the following: Line 20a, $116,931, gross income, Lines 42 and 43, $97,600, foreign earned income exclusion, and Line 44, $55,837 (83. Online taxes h&rblock 47% × $66,895) business expenses attributable to the exclusion. Online taxes h&rblock In this situation (Example 2), you cannot use Form 2555-EZ since you had self-employment income and business expenses. Online taxes h&rblock Example 3. Online taxes h&rblock Assume in Example 2 that both capital and personal services combine to produce the business income. Online taxes h&rblock No more than 30% of your net income, or $15,011, assuming that this amount is a reasonable allowance for your services, is considered earned and can be excluded. Online taxes h&rblock Your exclusion of $15,011 is 12. Online taxes h&rblock 84% of your gross income ($15,011 ÷ $116,931). Online taxes h&rblock Because you excluded 12. Online taxes h&rblock 84% of your total income, $8,589 (. Online taxes h&rblock 1284 x $66,895) of your business expenses is attributable to the excluded income and is not deductible. Online taxes h&rblock Example 4. Online taxes h&rblock You are a U. Online taxes h&rblock S. Online taxes h&rblock citizen, have a tax home in Brazil, and meet the physical presence test. Online taxes h&rblock You are self-employed and both capital and personal services combine to produce business income. Online taxes h&rblock Your gross income was $146,000, business expenses were $172,000, and your net loss was $26,000. Online taxes h&rblock A reasonable allowance for the services you performed for the business is $77,000. Online taxes h&rblock Because you incurred a net loss, the earned income limit of 30% of your net profit does not apply. Online taxes h&rblock The $77,000 is foreign earned income. Online taxes h&rblock If you choose to exclude the $77,000, you exclude 52. Online taxes h&rblock 74% of your gross income ($77,000 ÷ $146,000), and 52. Online taxes h&rblock 74% of your business expenses ($90,713) is attributable to that income and is not deductible. Online taxes h&rblock Show your total income and expenses on Schedule C (Form 1040). Online taxes h&rblock On Form 2555, exclude $77,000 and show $90,713 on line 44. Online taxes h&rblock Subtract line 44 from line 43, and enter the difference as a negative (in parentheses) on line 45. Online taxes h&rblock Because this amount is negative, enter it as a positive (no parentheses) on line 21, Form 1040, and combine it with your other income to arrive at total income on line 22 of Form 1040. Online taxes h&rblock In this situation (Example 4), you would probably not want to choose the foreign earned income exclusion if this was the first year you were eligible. Online taxes h&rblock If you had chosen the exclusion in an earlier year, you might want to revoke the choice for this year. Online taxes h&rblock To do so would mean that you could not claim the exclusion again for the next 5 tax years without IRS approval. Online taxes h&rblock See Choosing the Exclusion in chapter 4. Online taxes h&rblock Example 5. Online taxes h&rblock You are a U. Online taxes h&rblock S. Online taxes h&rblock citizen, have a tax home in Panama, and meet the bona fide residence test. Online taxes h&rblock You have been performing services for clients as a partner in a firm that provides services exclusively in Panama. Online taxes h&rblock Capital investment is not material in producing the partnership's income. Online taxes h&rblock Under the terms of the partnership agreement, you are to receive 50% of the net profits. Online taxes h&rblock The partnership received gross income of $244,000 and incurred operating expenses of $98,250. Online taxes h&rblock Of the net profits of $145,750, you received $72,875 as your distributive share. Online taxes h&rblock You choose to exclude $97,600 of your share of the gross income. Online taxes h&rblock Because you exclude 80% ($97,600 ÷ $122,000) of your share of the gross income, you cannot deduct $39,300, 80% of your share of the operating expenses (. Online taxes h&rblock 80 × $49,125). Online taxes h&rblock Report $72,875, your distributive share of the partnership net profit, on Schedule E (Form 1040), Supplemental Income and Loss. Online taxes h&rblock On Form 2555, show $97,600 on line 42 and show $39,300 on line 44. Online taxes h&rblock Your exclusion on Form 2555 is $58,300. Online taxes h&rblock In this situation (Example 5), you cannot use Form 2555-EZ since you had earned income other than salaries and wages and you had business expenses. Online taxes h&rblock Prev  Up  Next   Home   More Online Publications