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State Returns

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State Returns

State returns Index A Acquisition indebtedness, Average acquisition indebtedness. State returns Annuity obligations, Annuity obligation. State returns By gift or bequest of mortgaged property, Exception for property acquired by gift, bequest, or devise. State returns Change in property use, Change in use of property. State returns Continued debt, Continued debt. State returns Debt modifying existing, Modifying existing debt. State returns Federal financing, Certain federal financing. State returns For performing exempt purpose, Debt incurred in performing exempt purpose. State returns Obligation to return collateral, Securities loans. State returns Property subject to mortgage or lien, Property acquired subject to mortgage or lien. State returns Real property, Real property debts of qualified organizations. State returns Advertising income, Exploitation of Exempt Activity—Advertising Sales Agricultural organization dues, Dues of Agricultural Organizations and Business Leagues Assistance (see Tax help) B Business league dues, Dues of Agricultural Organizations and Business Leagues C Churches, Churches. State returns Contributions deduction, Charitable contributions deduction. State returns Convention or trade show activity, Convention or trade show activity. State returns D Debt-financed property, Income From Debt-Financed Property Acquired in liquidation, Basis for debt-financed property acquired in corporate liquidation. State returns Dues, agricultural organizations and business leagues, Dues of Agricultural Organizations and Business Leagues E Exchange or rental of member lists, Exchange or rental of member lists. State returns Excluded trade or business activities, Excluded Trade or Business Activities Exclusions, Volunteer workforce. State returns Sponsorship, Qualified sponsorship activities. State returns Exempt function income, Exempt function income. State returns Exploitation of exempt activity Advertising income, Exploitation of Exempt Activity—Advertising Sales Exploitation of exempt functions, Exploitation of exempt functions. State returns F Form 990-T, Returns and Filing Requirements Free tax services, How to Get Tax Help H Help (see Tax help) I Income from research, Income from research. State returns L Limits, Limits. State returns M More information (see Tax help) N Net operating loss deduction, Modifications Nonrecognition of gain, Nonrecognition of gain. State returns P Publications (see Tax help) R Rents, Rents. State returns Return, Returns and Filing Requirements Royalties, Royalties. State returns S Specific deduction, Specific deduction. State returns T Tax, Organizations Subject to the Tax Alternative minimum, Alternative minimum tax. State returns Colleges and universities, Colleges and universities. State returns Deposits, Federal Tax Deposits Must be Made by Electronic Funds Transfer Estimated, Payment of Tax Organizations affected, Organizations Subject to the Tax Payment, Public Inspection Requirements of Section 501(c)(3) Organizations. State returns Rates, The Tax and Filing Requirements Return, Returns and Filing Requirements Title-holding corporations, Title-holding corporations. State returns U. State returns S. State returns instrumentalities, U. State returns S. State returns instrumentalities. State returns Tax help, How to Get Tax Help Taxpayer Advocate, Contacting your Taxpayer Advocate. State returns Title-holding corporations, Title-holding corporations. State returns TTY/TDD information, How to Get Tax Help U Unrelated business Hospital laboratory, Nonpatient laboratory testing. State returns Unrelated business income, Unrelated Business Taxable Income, Income Advertising income, Exploitation of Exempt Activity—Advertising Sales Certain trusts, Special Rules for Social Clubs, VEBAs, SUBs, and GLSOs Controlled organizations, Income From Controlled Organizations Debt-financed property, Income From Debt-Financed Property Deductions, Deductions Employees beneficiary associations, Special Rules for Social Clubs, VEBAs, SUBs, and GLSOs Exclusions, Exclusions Foreign organizations, Special Rules for Foreign Organizations Income from gambling activities, Legal definition. State returns Income from lending securities, Income from lending securities. State returns Modifications, Modifications Partnership income or loss, Partnership Income or Loss Products of exempt functions, Selling of products of exempt functions. State returns S corporation income, S Corporation Income or Loss S corporation income or loss, S Corporation Income or Loss Social clubs, Special Rules for Social Clubs, VEBAs, SUBs, and GLSOs Veterans organizations, Special Rules for Veterans' Organizations Unrelated debt-financed income, Certain federal financing. State returns Average acquisition indebtedness, Average acquisition indebtedness. State returns Average adjusted basis, Average adjusted basis. State returns Computation, Computation of Debt-Financed Income Debt/basis percentage, Computation of debt/basis percentage. State returns Deductions, Deductions for Debt-Financed Property Gains from dispositions, Gain or loss from sale or other disposition of property. State returns Indeterminate property price, Indeterminate price. State returns Unrelated trade or business, Unrelated Trade or Business Artists facilities, Artists' facilities. State returns Book publishing, Book publishing. State returns Broadcasting rights, Broadcasting rights. State returns Business league's parking and bus services, Business league's parking and bus services. State returns Convenience of members, Convenience of members. State returns Convention or trade show, Convention or trade show activity. State returns Directory of members, Directory of members. State returns Distribution of low cost articles, Distribution of low cost articles. State returns Dual use facilities, etc. State returns , Dual use of assets or facilities. State returns Employees association sales, Employee association sales. State returns Exclusions, Excluded Trade or Business Activities Exploitation of exempt functions, Exploitation of exempt functions. State returns Gambling activities other than bingo, Gambling activities other than bingo. State returns Halfway house, Halfway house workshop. State returns Health club program, Health club program. State returns Hearing aid sales, Sales of hearing aids. State returns Hospital facilities, Hospital facilities. State returns Hospital services, Hospital services. State returns Insurance programs, Insurance programs. State returns Magazine publishing, Magazine publishing. State returns Member lists rentals, etc. State returns , Exchange or rental of member lists. State returns Membership list sales, Membership list sales. State returns Miniature golf course, Miniature golf course. State returns Museum eating facilities, Museum eating facilities. State returns Museum greeting card sales, Museum greeting card sales. State returns Pet boarding and grooming services, Pet boarding and grooming services. State returns Pole rentals, Pole rentals. State returns Public entertainment activity, Public entertainment activity. State returns Publishing legal notices, Publishing legal notices. State returns Regularly conducted, Regularly conducted. State returns Sales commissions, Sales commissions. State returns Sales of advertising space, Sales of advertising space. State returns School facilities, School facilities. State returns School handicraft shop, School handicraft shop. State returns Selling donated merchandise, Selling donated merchandise. State returns Selling endorsements, Selling endorsements. State returns Sponsoring entertainment events, Sponsoring entertainment events. State returns Substantially related, Not substantially related. State returns Trade or business defined, Trade or business. State returns Travel tour programs, Travel tour programs. State returns Volunteer workforce, Volunteer workforce. State returns Yearbook advertising, Yearbook advertising. State returns Youth residence, Youth residence. State returns Unstated trade or business Bingo games, Bingo games. State returns V Volunteer fire company, Excluded Trade or Business Activities W When to file, When to file. State returns Prev  Up     Home   More Online Publications
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Consumer Protection Offices

City, county, regional, and state consumer offices offer a variety of important services. They might mediate complaints, conduct investigations, prosecute offenders of consumer laws, license and regulate professional service providers, provide educational materials and advocate for consumer rights. To save time, call before sending a written complaint. Ask if the office handles the type of complaint you have and if complaint forms are provided.

State Consumer Protection Offices

Idaho Attorney Generals Office

Website: Idaho Attorney Generals Office

Address: Idaho Attorney Generals Office
Consumer Protection Division
954 W. Jefferson, 2nd Floor
Boise, ID 83720

Phone Number: 208-334-2424

Toll-free: 1-800-432-3545 (ID)

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Banking Authorities

The officials listed in this section regulate and supervise state-chartered banks. Many of them handle or refer problems and complaints about other types of financial institutions as well. Some also answer general questions about banking and consumer credit. If you are dealing with a federally chartered bank, check Federal Agencies.

Department of Finance

Website: Department of Finance

Address: Department of Finance
Financial Institutions Bureau
PO Box 83720
Boise, ID 83720-0031

Phone Number: 208-332-8005

Toll-free: 1-888-346-3378 (ID)

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Insurance Regulators

Each state has its own laws and regulations for each type of insurance. The officials listed in this section enforce these laws. Many of these offices can also provide you with information to help you make informed insurance buying decisions.

Department of Insurance

Website: Department of Insurance

Address: Department of Insurance
Consumer's Bureau
700 W. State St.
PO Box 83720
Boise, ID 83720-0043

Phone Number: 208-334-4250

Toll-free: 1-800-721-3272 (ID)

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Securities Administrators

Each state has its own laws and regulations for securities brokers and securities - including stocks, mutual funds, commodities, real estate, etc. The officials and agencies listed in this section enforce these laws and regulations. Many of these offices can also provide information to help you make informed investment decisions.

Department of Finance

Website: Department of Finance

Address: Department of Finance
Securities Bureau
PO Box 83720
Boise, ID 83720-0031

Phone Number: 208-332-8000

Toll-free: 1-888-346-3378 (ID)

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Utility Commissions

State Utility Commissions regulate services and rates for gas, electricity and telephones within your state. In some states, the utility commissions regulate other services such as water, transportation, and the moving of household goods. Many utility commissions handle consumer complaints. Sometimes, if a number of complaints are received about the same utility matter, they will conduct investigations.

Public Utilities Commission

Website: Public Utilities Commission

Address: Public Utilities Commission
Consumer Assistance Section
PO Box 83720
Boise, ID 83720-0074

Phone Number: 208-334-0369

Toll-free: 1-800-432-0369 (ID)

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The State Returns

State returns 4. State returns   Reporting Gains and Losses Table of Contents Introduction Topics - This chapter discusses: Useful Items - You may want to see: Information Returns Schedule D and Form 8949Long and Short Term Net Gain or Loss Treatment of Capital Losses Capital Gains Tax Rates Form 4797Mark-to-market election. State returns Introduction This chapter explains how to report capital gains and losses and ordinary gains and losses from sales, exchanges, and other dispositions of property. State returns Although this discussion refers to Schedule D (Form 1040) and Form 8949, many of the rules discussed here also apply to taxpayers other than individuals. State returns However, the rules for property held for personal use usually will not apply to taxpayers other than individuals. State returns Topics - This chapter discusses: Information returns Schedule D (Form 1040) Form 4797 Form 8949 Useful Items - You may want to see: Publication 550 Investment Income and Expenses 537 Installment Sales Form (and Instructions) Schedule D (Form 1040) Capital Gains and Losses 1099-B Proceeds From Broker and Barter Exchange Transactions 1099-S Proceeds From Real Estate Transactions 4684 Casualties and Thefts 4797 Sales of Business Property 6252 Installment Sale Income 6781 Gains and Losses from Section 1256 Contracts and Straddles 8824 Like-Kind Exchanges 8949 Sales and Other Dispositions of Capital Assets See chapter 5 for information about getting publications and forms. State returns Information Returns If you sell or exchange certain assets, you should receive an information return showing the proceeds of the sale. State returns This information is also provided to the IRS. State returns Form 1099-B. State returns   If you sold property, such as stocks, bonds, or certain commodities, through a broker, you should receive Form 1099-B, Proceeds From Broker and Barter Exchange Transactions, or a substitute statement from the broker. State returns Use the Form 1099-B or a substitute statement to complete Form 8949 and/or Schedule D. State returns Whether or not you receive 1099-B, you must report all taxable sales of stock, bonds, commodities, etc. State returns on Form 8949 and/or Schedule D, as applicable. State returns For more information on figuring gains and losses from these transactions, see chapter 4 in Publication 550. State returns For information on reporting the gains and losses, see the Instructions for Form 8949 and the Instructions for Schedule D (Form 1040). State returns Form 1099-S. State returns   An information return must be provided on certain real estate transactions. State returns Generally, the person responsible for closing the transaction (the “real estate reporting person”) must report on Form 1099-S sales or exchanges of the following types of property. State returns Land (improved or unimproved), including air space. State returns An inherently permanent structure, including any residential, commercial, or industrial building. State returns A condominium unit and its related fixtures and common elements (including land). State returns Stock in a cooperative housing corporation. State returns If you sold or exchanged any of the above types of property, the “real estate reporting person” must give you a copy of Form 1099-S or a statement containing the same information as the Form 1099-S. State returns The “real estate reporting person” could include the buyer's attorney, your attorney, the title or escrow company, a mortgage lender, your broker, the buyer's broker, or the person acquiring the biggest interest in the property. State returns   For more information see chapter 4 in Publication 550. State returns Also, see the Instructions for Form 8949. State returns Schedule D and Form 8949 Form 8949. State returns   Individuals, corporations, and partnerships, use Form 8949 to report the following. State returns    Sales or exchanges of capital assets, including stocks, bonds, etc. State returns , and real estate (if not reported on another form or schedule such as Form 4684, 4797, 6252, 6781, or 8824). State returns Include these transactions even if you did not receive a Form 1099-B or 1099-S. State returns Gains from involuntary conversions (other than from casualty or theft) of capital assets not held for business or profit. State returns Nonbusiness bad debts. State returns   Individuals, If you are filing a joint return, complete as many copies of Form 8949 as you need to report all of your and your spouse's transactions. State returns You and your spouse may list your transactions on separate forms or you may combine them. State returns However, you must include on your Schedule D the totals from all Forms 8949 for both you and your spouse. State returns    Corporations and electing large partnerships also use Form 8949 to report their share of gain or loss from a partnership, S Corporation, estate or trust. State returns   Business entities meeting certain criteria, may have an exception to some of the normal requirements for completing Form 8949. State returns See the Instructions for Form 8949. State returns Schedule D. State returns    Use Schedule D (Form 1040) to figure the overall gain or loss from transactions reported on Form 8949, and to report certain transactions you do not have to report on Form 8949. State returns Before completing Schedule D, you may have to complete other forms as shown below. State returns    Complete all applicable lines of Form 8949 before completing lines 1b, 2, 3, 8b, 9, or 10 of your applicable Schedule D. State returns Enter on Schedule D the combined totals from all your Forms 8949. State returns For a sale, exchange, or involuntary conversion of business property, complete Form 4797 (discussed later). State returns For a like-kind exchange, complete Form 8824. State returns See Reporting the exchange under Like-Kind Exchanges in chapter 1. State returns For an installment sale, complete Form 6252. State returns See Publication 537. State returns For an involuntary conversion due to casualty or theft, complete Form 4684. State returns See Publication 547, Casualties, Disasters, and Thefts. State returns For a disposition of an interest in, or property used in, an activity to which the at-risk rules apply, complete Form 6198, At-Risk Limitations. State returns See Publication 925, Passive Activity and At-Risk Rules. State returns For a disposition of an interest in, or property used in, a passive activity, complete Form 8582, Passive Activity Loss Limitations. State returns See Publication 925. State returns For gains and losses from section 1256 contracts and straddles, complete Form 6781. State returns See Publication 550. State returns Personal-use property. State returns   Report gain on the sale or exchange of property held for personal use (such as your home) on Form 8949 and Schedule D (Form 1040), as applicable. State returns Loss from the sale or exchange of property held for personal use is not deductible. State returns But if you had a loss from the sale or exchange of real estate held for personal use for which you received a Form 1099-S, report the transaction on Form 8949 and Schedule D, even though the loss is not deductible. State returns See the Instructions for Schedule D (Form 1040) and the Instructions for Form 8949 for information on how to report the transaction. State returns Long and Short Term Where you report a capital gain or loss depends on how long you own the asset before you sell or exchange it. State returns The time you own an asset before disposing of it is the holding period. State returns If you received a Form 1099-B, (or substitute statement) box 1c may help you determine whether the gain or loss is short-term or long-term. State returns If you hold a capital asset 1 year or less, the gain or loss from its disposition is short term. State returns Report it in Part I of Form 8949 and/or Schedule D, as applicable. State returns If you hold a capital asset longer than 1 year, the gain or loss from its disposition is long term. State returns Report it in Part II of Form 8949 and/or Schedule D, as applicable. State returns   Table 4-1. State returns Do I Have a Short-Term or Long-Term Gain or Loss? IF you hold the property. State returns . State returns . State returns  THEN you have a. State returns . State returns . State returns 1 year or less, Short-term capital gain or  loss. State returns More than 1 year, Long-term capital gain or  loss. State returns These distinctions are essential to correctly arrive at your net capital gain or loss. State returns Capital losses are allowed in full against capital gains plus up to $3,000 of ordinary income. State returns See Capital Gains Tax Rates, later. State returns Holding period. State returns   To figure if you held property longer than 1 year, start counting on the day following the day you acquired the property. State returns The day you disposed of the property is part of your holding period. State returns Example. State returns If you bought an asset on June 19, 2012, you should start counting on June 20, 2012. State returns If you sold the asset on June 19, 2013, your holding period is not longer than 1 year, but if you sold it on June 20, 2013, your holding period is longer than 1 year. State returns Patent property. State returns   If you dispose of patent property, you generally are considered to have held the property longer than 1 year, no matter how long you actually held it. State returns For more information, see Patents in chapter 2. State returns Inherited property. State returns   If you inherit property, you are considered to have held the property longer than 1 year, regardless of how long you actually held it. State returns Installment sale. State returns   The gain from an installment sale of an asset qualifying for long-term capital gain treatment in the year of sale continues to be long term in later tax years. State returns If it is short term in the year of sale, it continues to be short term when payments are received in later tax years. State returns    The date the installment payment is received determines the capital gains rate that should be applied not the date the asset was sold under an installment contract. State returns Nontaxable exchange. State returns   If you acquire an asset in exchange for another asset and your basis for the new asset is figured, in whole or in part, by using your basis in the old property, the holding period of the new property includes the holding period of the old property. State returns That is, it begins on the same day as your holding period for the old property. State returns Example. State returns You bought machinery on December 4, 2012. State returns On June 4, 2013, you traded this machinery for other machinery in a nontaxable exchange. State returns On December 5, 2013, you sold the machinery you got in the exchange. State returns Your holding period for this machinery began on December 5, 2012. State returns Therefore, you held it longer than 1 year. State returns Corporate liquidation. State returns   The holding period for property you receive in a liquidation generally starts on the day after you receive it if gain or loss is recognized. State returns Profit-sharing plan. State returns   The holding period of common stock withdrawn from a qualified contributory profit-sharing plan begins on the day following the day the plan trustee delivered the stock to the transfer agent with instructions to reissue the stock in your name. State returns Gift. State returns   If you receive a gift of property and your basis in it is figured using the donor's basis, your holding period includes the donor's holding period. State returns For more information on basis, see Publication 551, Basis of Assets. State returns Real property. State returns   To figure how long you held real property, start counting on the day after you received title to it or, if earlier, the day after you took possession of it and assumed the burdens and privileges of ownership. State returns   However, taking possession of real property under an option agreement is not enough to start the holding period. State returns The holding period cannot start until there is an actual contract of sale. State returns The holding period of the seller cannot end before that time. State returns Repossession. State returns   If you sell real property but keep a security interest in it and then later repossess it, your holding period for a later sale includes the period you held the property before the original sale, as well as the period after the repossession. State returns Your holding period does not include the time between the original sale and the repossession. State returns That is, it does not include the period during which the first buyer held the property. State returns Nonbusiness bad debts. State returns   Nonbusiness bad debts are short-term capital losses. State returns For information on nonbusiness bad debts, see chapter 4 of Publication 550. State returns    Net Gain or Loss The totals for short-term capital gains and losses and the totals for long-term capital gains and losses must be figured separately. State returns Net short-term capital gain or loss. State returns   Combine your short-term capital gains and losses, including your share of short-term capital gains or losses from partnerships, S corporations, and fiduciaries and any short-term capital loss carryover. State returns Do this by adding all your short-term capital gains. State returns Then add all your short-term capital losses. State returns Subtract the lesser total from the other. State returns The result is your net short-term capital gain or loss. State returns Net long-term capital gain or loss. State returns   Follow the same steps to combine your long-term capital gains and losses. State returns Include the following items. State returns Net section 1231 gain from Part I, Form 4797, after any adjustment for nonrecaptured section 1231 losses from prior tax years. State returns Capital gain distributions from regulated investment companies (mutual funds) and real estate investment trusts. State returns Your share of long-term capital gains or losses from partnerships, S corporations, and fiduciaries. State returns Any long-term capital loss carryover. State returns The result from combining these items with other long-term capital gains and losses is your net long-term capital gain or loss. State returns Net gain. State returns   If the total of your capital gains is more than the total of your capital losses, the difference is taxable. State returns Different tax rates may apply to the part that is a net capital gain. State returns See Capital Gains Tax Rates, later. State returns Net loss. State returns   If the total of your capital losses is more than the total of your capital gains, the difference is deductible. State returns But there are limits on how much loss you can deduct and when you can deduct it. State returns See Treatment of Capital Losses, next. State returns    Treatment of Capital Losses If your capital losses are more than your capital gains, you can deduct the difference as a capital loss deduction even if you do not have ordinary income to offset it. State returns The yearly limit on the amount of the capital loss you can deduct is $3,000 ($1,500 if you are married and file a separate return). State returns Table 4-2. State returns Holding Period for Different Types of Acquisitions Type of acquisition: When your holding period starts: Stocks and bonds bought on a securities market Day after trading date you bought security. State returns Ends on trading date you sold security. State returns U. State returns S. State returns Treasury notes and bonds If bought at auction, day after notification of bid acceptance. State returns If bought through subscription, day after subscription was submitted. State returns Nontaxable exchanges Day after date you acquired old property. State returns Gift If your basis is giver's adjusted basis, same day as giver's holding period began. State returns If your basis is FMV, day after date of gift. State returns Real property bought Generally, day after date you received title to the property. State returns Real property repossessed Day after date you originally received title to the property, but does not include time between the original sale and date of repossession. State returns Capital loss carryover. State returns   Generally, you have a capital loss carryover if either of the following situations applies to you. State returns Your net loss is more than the yearly limit. State returns Your taxable income without your deduction for exemptions is less than zero. State returns If either of these situations applies to you for 2013, see Capital Losses under Reporting Capital Gains and Losses in chapter 4 of Publication 550 to figure the amount you can carryover to 2014. State returns Example. State returns Bob and Gloria Sampson sold property in 2013. State returns The sale resulted in a capital loss of $7,000. State returns The Sampsons had no other capital transactions. State returns On their joint 2013 return, the Sampsons deduct $3,000, the yearly limit. State returns They had taxable income of $2,000. State returns The unused part of the loss, $4,000 ($7,000 − $3,000), is carried over to 2014. State returns If the Sampsons' capital loss had been $2,000, it would not have been more than the yearly limit. State returns Their capital loss deduction would have been $2,000. State returns They would have no carryover to 2014. State returns Short-term and long-term losses. State returns   When you carry over a loss, it retains its original character as either long term or short term. State returns A short-term loss you carry over to the next tax year is added to short-term losses occurring in that year. State returns A long-term loss you carry over to the next tax year is added to long-term losses occurring in that year. State returns A long-term capital loss you carry over to the next year reduces that year's long-term gains before its short-term gains. State returns   If you have both short-term and long-term losses, your short-term losses are used first against your allowable capital loss deduction. State returns If, after using your short-term losses, you have not reached the limit on the capital loss deduction, use your long-term losses until you reach the limit. State returns To figure your capital loss carryover from 2013 to 2014 use the Capital Loss Carryover Worksheet in the 2013 Instructions for Schedule D (Form 1040). State returns Joint and separate returns. State returns   On a joint return, the capital gains and losses of spouses are figured as the gains and losses of an individual. State returns If you are married and filing a separate return, your yearly capital loss deduction is limited to $1,500. State returns Neither you nor your spouse can deduct any part of the other's loss. State returns   If you and your spouse once filed separate returns and are now filing a joint return, combine your separate capital loss carryovers. State returns However, if you and your spouse once filed jointly and are now filing separately, any capital loss carryover from the joint return can be deducted only on the return of the spouse who actually had the loss. State returns Death of taxpayer. State returns   Capital losses cannot be carried over after a taxpayer's death. State returns They are deductible only on the final income tax return filed on the decedent's behalf. State returns The yearly limit discussed earlier still applies in this situation. State returns Even if the loss is greater than the limit, the decedent's estate cannot deduct the difference or carry it over to following years. State returns Corporations. State returns   A corporation can deduct capital losses only up to the amount of its capital gains. State returns In other words, if a corporation has a net capital loss, it cannot be deducted in the current tax year. State returns It must be carried to other tax years and deducted from capital gains occurring in those years. State returns For more information, see Publication 542. State returns Capital Gains Tax Rates The tax rates that apply to a net capital gain are generally lower than the tax rates that apply to other income. State returns These lower rates are called the maximum capital gains rates. State returns The term “net capital gain” means the amount by which your net long-term capital gain for the year is more than your net short-term capital loss. State returns For 2013, the maximum tax rates for individuals are 0%, 15%, 20%, 25%, and 28%. State returns Also, individuals, use the Qualified Dividends and Capital Gain Worksheet in the Instructions for Form 1040, or the Schedule D Tax Computation Worksheet in the Instructions for Schedule D (Form 1040) (whichever applies) to figure your tax if you have qualified dividends or net capital gain. State returns For more information, see chapter 4 of Publication 550. State returns Also see the Instructions for Schedule D (Form 1040). State returns Unrecaptured section 1250 gain. State returns   Generally, this is the part of any long-term capital gain on section 1250 property (real property) that is due to depreciation. State returns Unrecaptured section 1250 gain cannot be more than the net section 1231 gain or include any gain otherwise treated as ordinary income. State returns Use the worksheet in the Schedule D instructions to figure your unrecaptured section 1250 gain. State returns For more information about section 1250 property and net section 1231 gain, see chapter 3. State returns Form 4797 Use Form 4797 to report: The sale or exchange of: Property used in your trade or business; Depreciable and amortizable property; Oil, gas, geothermal, or other mineral properties; and Section 126 property. State returns The involuntary conversion (from other than casualty or theft) of property used in your trade or business and capital assets held in connection with a trade or business or a transaction entered into for profit. State returns The disposition of noncapital assets (other than inventory or property held primarily for sale to customers in the ordinary course of your trade or business). State returns The disposition of capital assets not reported on Schedule D. State returns The gain or loss (including any related recapture) for partners and S corporation shareholders from certain section 179 property dispositions by partnerships (other than electing large partnerships) and S corporations. State returns The computation of recapture amounts under sections 179 and 280F(b)(2) when the business use of section 179 or listed property decreases to 50% or less. State returns Gains or losses treated as ordinary gains or losses, if you are a trader in securities or commodities and made a mark-to-market election under Internal Revenue Code section 475(f). State returns You can use Form 4797 with Form 1040, 1065, 1120, or 1120S. State returns Section 1231 gains and losses. State returns   Show any section 1231 gains and losses in Part I. State returns Carry a net gain to Schedule D (Form 1040) as a long-term capital gain. State returns Carry a net loss to Part II of Form 4797 as an ordinary loss. State returns   If you had any nonrecaptured net section 1231 losses from the preceding 5 tax years, reduce your net gain by those losses and report the amount of the reduction as an ordinary gain in Part II. State returns Report any remaining gain on Schedule D (Form 1040). State returns See Section 1231 Gains and Losses in chapter 3. State returns Ordinary gains and losses. State returns   Show any ordinary gains and losses in Part II. State returns This includes a net loss or a recapture of losses from prior years figured in Part I of Form 4797. State returns It also includes ordinary gain figured in Part III. State returns Mark-to-market election. State returns   If you made a mark-to-market election, you should report all gains and losses from trading as ordinary gains and losses in Part II of Form 4797, instead of as capital gains and losses on Form 8949 and Schedule D (Form 1040). State returns See the Instructions for Form 4797. State returns Also see Special Rules for Traders in Securities, in chapter 4 of Publication 550. State returns Ordinary income from depreciation. State returns   Figure the ordinary income from depreciation on personal property and additional depreciation on real property (as discussed in chapter 3) in Part III. State returns Carry the ordinary income to Part II of Form 4797 as an ordinary gain. State returns Carry any remaining gain to Part I as section 1231 gain, unless it is from a casualty or theft. State returns Carry any remaining gain from a casualty or theft to Form 4684. State returns Prev  Up  Next   Home   More Online Publications