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Where Do I Send My Federal Tax Return 2012

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Where Do I Send My Federal Tax Return 2012

Where do i send my federal tax return 2012 Publication 526 - Main Content Table of Contents Organizations That Qualify To Receive Deductible ContributionsTypes of Qualified Organizations Contributions You Can DeductContributions From Which You Benefit Expenses Paid for Student Living With You Out-of-Pocket Expenses in Giving Services Expenses of Whaling Captains Contributions You Cannot DeductContributions to Individuals Contributions to Nonqualified Organizations Contributions From Which You Benefit Value of Time or Services Personal Expenses Appraisal Fees Contributions to Donor-Advised Funds Partial Interest in Property Contributions of PropertyContributions Subject to Special Rules Determining Fair Market Value Giving Property That Has Decreased in Value Giving Property That Has Increased in Value Penalty When To DeductChecks. Where do i send my federal tax return 2012 Text message. Where do i send my federal tax return 2012 Credit card. Where do i send my federal tax return 2012 Pay-by-phone account. Where do i send my federal tax return 2012 Stock certificate. Where do i send my federal tax return 2012 Promissory note. Where do i send my federal tax return 2012 Option. Where do i send my federal tax return 2012 Borrowed funds. Where do i send my federal tax return 2012 Conditional gift. Where do i send my federal tax return 2012 Limits on Deductions50% Limit 30% Limit Special 30% Limit for Capital Gain Property 20% Limit Special 50% Limit for Qualified Conservation Contributions How To Figure Your Deduction When Limits Apply Records To KeepCash Contributions Noncash Contributions Out-of-Pocket Expenses How To ReportReporting expenses for student living with you. Where do i send my federal tax return 2012 Total deduction over $500. Where do i send my federal tax return 2012 Deduction over $5,000 for one item. Where do i send my federal tax return 2012 Vehicle donations. Where do i send my federal tax return 2012 Clothing and household items not in good used condition. Where do i send my federal tax return 2012 Easement on building in historic district. Where do i send my federal tax return 2012 Deduction over $500,000. Where do i send my federal tax return 2012 How To Get Tax HelpLow Income Taxpayer Clinics Organizations That Qualify To Receive Deductible Contributions You can deduct your contributions only if you make them to a qualified organization. Where do i send my federal tax return 2012 Most organizations, other than churches and governments, must apply to the IRS to become a qualified organization. Where do i send my federal tax return 2012 How to check whether an organization can receive deductible charitable contributions. Where do i send my federal tax return 2012   You can ask any organization whether it is a qualified organization, and most will be able to tell you. Where do i send my federal tax return 2012 Or go to IRS. Where do i send my federal tax return 2012 gov. Where do i send my federal tax return 2012 Click on “Tools” and then on “Exempt Organizations Select Check” (www. Where do i send my federal tax return 2012 irs. Where do i send my federal tax return 2012 gov/Charities-&-Non-Profits/Exempt-Organizations-Select-Check). Where do i send my federal tax return 2012 This online tool will enable you to search for qualified organizations. Where do i send my federal tax return 2012 You can also call the IRS to find out if an organization is qualified. Where do i send my federal tax return 2012 Call 1-877-829-5500. Where do i send my federal tax return 2012 People who are deaf, hard of hearing, or have a speech disability and who have access to TTY/TDD equipment can call 1-800-829-4059. Where do i send my federal tax return 2012 Deaf or hard of hearing individuals can also contact the IRS through relay services such as the Federal Relay Service at www. Where do i send my federal tax return 2012 gsa. Where do i send my federal tax return 2012 gov/fedrelay. Where do i send my federal tax return 2012 Types of Qualified Organizations Generally, only the following types of organizations can be qualified organizations. Where do i send my federal tax return 2012 A community chest, corporation, trust, fund, or foundation organized or created in or under the laws of the United States, any state, the District of Columbia, or any possession of the United States (including Puerto Rico). Where do i send my federal tax return 2012 It must, however, be organized and operated only for charitable, religious, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Where do i send my federal tax return 2012 Certain organizations that foster national or international amateur sports competition also qualify. Where do i send my federal tax return 2012 War veterans' organizations, including posts, auxiliaries, trusts, or foundations, organized in the United States or any of its possessions (including Puerto Rico). Where do i send my federal tax return 2012 Domestic fraternal societies, orders, and associations operating under the lodge system. Where do i send my federal tax return 2012 (Your contribution to this type of organization is deductible only if it is to be used solely for charitable, religious, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Where do i send my federal tax return 2012 ) Certain nonprofit cemetery companies or corporations. Where do i send my federal tax return 2012 (Your contribution to this type of organization is not deductible if it can be used for the care of a specific lot or mausoleum crypt. Where do i send my federal tax return 2012 ) The United States or any state, the District of Columbia, a U. Where do i send my federal tax return 2012 S. Where do i send my federal tax return 2012 possession (including Puerto Rico), a political subdivision of a state or U. Where do i send my federal tax return 2012 S. Where do i send my federal tax return 2012 possession, or an Indian tribal government or any of its subdivisions that perform substantial government functions. Where do i send my federal tax return 2012 (Your contribution to this type of organization is deductible only if it is to be used solely for public purposes. Where do i send my federal tax return 2012 ) Example 1. Where do i send my federal tax return 2012 You contribute cash to your city's police department to be used as a reward for information about a crime. Where do i send my federal tax return 2012 The city police department is a qualified organization, and your contribution is for a public purpose. Where do i send my federal tax return 2012 You can deduct your contribution. Where do i send my federal tax return 2012 Example 2. Where do i send my federal tax return 2012 You make a voluntary contribution to the social security trust fund, not earmarked for a specific account. Where do i send my federal tax return 2012 Because the trust fund is part of the U. Where do i send my federal tax return 2012 S. Where do i send my federal tax return 2012 Government, you contributed to a qualified organization. Where do i send my federal tax return 2012 You can deduct your contribution. Where do i send my federal tax return 2012 Examples. Where do i send my federal tax return 2012   The following list gives some examples of qualified organizations. Where do i send my federal tax return 2012 Churches, a convention or association of churches, temples, synagogues, mosques, and other religious organizations. Where do i send my federal tax return 2012 Most nonprofit charitable organizations such as the American Red Cross and the United Way. Where do i send my federal tax return 2012 Most nonprofit educational organizations, including the Boy Scouts of America, Girl Scouts of America, colleges, and museums. Where do i send my federal tax return 2012 This also includes nonprofit daycare centers that provide childcare to the general public if substantially all the childcare is provided to enable parents and guardians to be gainfully employed. Where do i send my federal tax return 2012 However, if your contribution is a substitute for tuition or other enrollment fee, it is not deductible as a charitable contribution, as explained later under Contributions You Cannot Deduct . Where do i send my federal tax return 2012 Nonprofit hospitals and medical research organizations. Where do i send my federal tax return 2012 Utility company emergency energy programs, if the utility company is an agent for a charitable organization that assists individuals with emergency energy needs. Where do i send my federal tax return 2012 Nonprofit volunteer fire companies. Where do i send my federal tax return 2012 Nonprofit organizations that develop and maintain public parks and recreation facilities. Where do i send my federal tax return 2012 Civil defense organizations. Where do i send my federal tax return 2012 Canadian charities. Where do i send my federal tax return 2012   You may be able to deduct contributions to certain Canadian charitable organizations covered under an income tax treaty with Canada. Where do i send my federal tax return 2012 To deduct your contribution to a Canadian charity, you generally must have income from sources in Canada. Where do i send my federal tax return 2012 See Publication 597, Information on the United States-Canada Income Tax Treaty, for information on how to figure your deduction. Where do i send my federal tax return 2012 Mexican charities. Where do i send my federal tax return 2012   Under the U. Where do i send my federal tax return 2012 S. Where do i send my federal tax return 2012 -Mexico income tax treaty, a contribution to a Mexican charitable organization may be deductible, but only if and to the extent the contribution would have been treated as a charitable contribution to a public charity created or organized under U. Where do i send my federal tax return 2012 S. Where do i send my federal tax return 2012 law. Where do i send my federal tax return 2012 To deduct your contribution to a Mexican charity, you must have income from sources in Mexico. Where do i send my federal tax return 2012 The limits described in Limits on Deductions , later, apply and are figured using your income from Mexican sources. Where do i send my federal tax return 2012 Israeli charities. Where do i send my federal tax return 2012   Under the U. Where do i send my federal tax return 2012 S. Where do i send my federal tax return 2012 -Israel income tax treaty, a contribution to an Israeli charitable organization is deductible if and to the extent the contribution would have been treated as a charitable contribution if the organization had been created or organized under U. Where do i send my federal tax return 2012 S. Where do i send my federal tax return 2012 law. Where do i send my federal tax return 2012 To deduct your contribution to an Israeli charity, you must have income from sources in Israel. Where do i send my federal tax return 2012 The limits described in Limits on Deductions , later, apply. Where do i send my federal tax return 2012 The deduction is also limited to 25% of your adjusted gross income from Israeli sources. Where do i send my federal tax return 2012 Contributions You Can Deduct Generally, you can deduct contributions of money or property you make to, or for the use of, a qualified organization. Where do i send my federal tax return 2012 A contribution is “for the use of” a qualified organization when it is held in a legally enforceable trust for the qualified organization or in a similar legal arrangement. Where do i send my federal tax return 2012 The contributions must be made to a qualified organization and not set aside for use by a specific person. Where do i send my federal tax return 2012 If you give property to a qualified organization, you generally can deduct the fair market value of the property at the time of the contribution. Where do i send my federal tax return 2012 See Contributions of Property , later. Where do i send my federal tax return 2012 Your deduction for charitable contributions generally cannot be more than 50% of your adjusted gross income (AGI), but in some cases 20% and 30% limits may apply. Where do i send my federal tax return 2012 In addition, the total of your charitable contributions deduction and certain other itemized deductions may be limited. Where do i send my federal tax return 2012 See Limits on Deductions , later. Where do i send my federal tax return 2012 Table 1 in this publication gives examples of contributions you can and cannot deduct. Where do i send my federal tax return 2012 Contributions From Which You Benefit If you receive a benefit as a result of making a contribution to a qualified organization, you can deduct only the amount of your contribution that is more than the value of the benefit you receive. Where do i send my federal tax return 2012 Also see Contributions From Which You Benefit under Contributions You Cannot Deduct, later. Where do i send my federal tax return 2012 If you pay more than fair market value to a qualified organization for goods or services, the excess may be a charitable contribution. Where do i send my federal tax return 2012 For the excess amount to qualify, you must pay it with the intent to make a charitable contribution. Where do i send my federal tax return 2012 Example 1. Where do i send my federal tax return 2012 You pay $65 for a ticket to a dinner-dance at a church. Where do i send my federal tax return 2012 Your entire $65 payment goes to the church. Where do i send my federal tax return 2012 The ticket to the dinner-dance has a fair market value of $25. Where do i send my federal tax return 2012 When you buy your ticket, you know its value is less than your payment. Where do i send my federal tax return 2012 To figure the amount of your charitable contribution, subtract the value of the benefit you receive ($25) from your total payment ($65). Where do i send my federal tax return 2012 You can deduct $40 as a charitable contribution to the church. Where do i send my federal tax return 2012 Example 2. Where do i send my federal tax return 2012 At a fundraising auction conducted by a charity, you pay $600 for a week's stay at a beach house. Where do i send my federal tax return 2012 The amount you pay is no more than the fair rental value. Where do i send my federal tax return 2012 You have not made a deductible charitable contribution. Where do i send my federal tax return 2012 Athletic events. Where do i send my federal tax return 2012   If you make a payment to, or for the benefit of, a college or university and, as a result, you receive the right to buy tickets to an athletic event in the athletic stadium of the college or university, you can deduct 80% of the payment as a charitable contribution. Where do i send my federal tax return 2012   If any part of your payment is for tickets (rather than the right to buy tickets), that part is not deductible. Where do i send my federal tax return 2012 Subtract the price of the tickets from your payment. Where do i send my federal tax return 2012 You can deduct 80% of the remaining amount as a charitable contribution. Where do i send my federal tax return 2012 Example 1. Where do i send my federal tax return 2012 You pay $300 a year for membership in a university's athletic scholarship program. Where do i send my federal tax return 2012 The only benefit of membership is that you have the right to buy one season ticket for a seat in a designated area of the stadium at the university's home football games. Where do i send my federal tax return 2012 You can deduct $240 (80% of $300) as a charitable contribution. Where do i send my federal tax return 2012 Example 2. Where do i send my federal tax return 2012 The facts are the same as in Example 1 except your $300 payment includes the purchase of one season ticket for the stated ticket price of $120. Where do i send my federal tax return 2012 You must subtract the usual price of a ticket ($120) from your $300 payment. Where do i send my federal tax return 2012 The result is $180. Where do i send my federal tax return 2012 Your deductible charitable contribution is $144 (80% of $180). Where do i send my federal tax return 2012 Charity benefit events. Where do i send my federal tax return 2012   If you pay a qualified organization more than fair market value for the right to attend a charity ball, banquet, show, sporting event, or other benefit event, you can deduct only the amount that is more than the value of the privileges or other benefits you receive. Where do i send my federal tax return 2012   If there is an established charge for the event, that charge is the value of your benefit. Where do i send my federal tax return 2012 If there is no established charge, the reasonable value of the right to attend the event is the value of your benefit. Where do i send my federal tax return 2012 Whether you use the tickets or other privileges has no effect on the amount you can deduct. Where do i send my federal tax return 2012 However, if you return the ticket to the qualified organization for resale, you can deduct the entire amount you paid for the ticket. Where do i send my federal tax return 2012    Even if the ticket or other evidence of payment indicates that the payment is a “contribution,” this does not mean you can deduct the entire amount. Where do i send my federal tax return 2012 If the ticket shows the price of admission and the amount of the contribution, you can deduct the contribution amount. Where do i send my federal tax return 2012 Example. Where do i send my federal tax return 2012 You pay $40 to see a special showing of a movie for the benefit of a qualified organization. Where do i send my federal tax return 2012 Printed on the ticket is “Contribution–$40. Where do i send my federal tax return 2012 ” If the regular price for the movie is $8, your contribution is $32 ($40 payment − $8 regular price). Where do i send my federal tax return 2012 Membership fees or dues. Where do i send my federal tax return 2012   You may be able to deduct membership fees or dues you pay to a qualified organization. Where do i send my federal tax return 2012 However, you can deduct only the amount that is more than the value of the benefits you receive. Where do i send my federal tax return 2012   You cannot deduct dues, fees, or assessments paid to country clubs and other social organizations. Where do i send my federal tax return 2012 They are not qualified organizations. Where do i send my federal tax return 2012 Certain membership benefits can be disregarded. Where do i send my federal tax return 2012   Both you and the organization can disregard the following membership benefits if you get them in return for an annual payment of $75 or less. Where do i send my federal tax return 2012 Any rights or privileges, other than those discussed under Athletic events , earlier, that you can use frequently while you are a member, such as: Free or discounted admission to the organization's facilities or events, Free or discounted parking, Preferred access to goods or services, and Discounts on the purchase of goods and services. Where do i send my federal tax return 2012 Admission, while you are a member, to events open only to members of the organization if the organization reasonably projects that the cost per person (excluding any allocated overhead) is not more than $10. Where do i send my federal tax return 2012 20. Where do i send my federal tax return 2012 Token items. Where do i send my federal tax return 2012   You do not have to reduce your contribution by the value of any benefit you receive if both of the following are true. Where do i send my federal tax return 2012 You receive only a small item or other benefit of token value. Where do i send my federal tax return 2012 The qualified organization correctly determines that the value of the item or benefit you received is not substantial and informs you that you can deduct your payment in full. Where do i send my federal tax return 2012 The organization determines whether the value of an item or benefit is substantial by using Revenue Procedures 90-12 and 92-49 and the inflation adjustment in Revenue Procedure 2012–41. Where do i send my federal tax return 2012 Written statement. Where do i send my federal tax return 2012   A qualified organization must give you a written statement if you make a payment of more than $75 that is partly a contribution and partly for goods or services. Where do i send my federal tax return 2012 The statement must say you can deduct only the amount of your payment that is more than the value of the goods or services you received. Where do i send my federal tax return 2012 It must also give you a good faith estimate of the value of those goods or services. Where do i send my federal tax return 2012   The organization can give you the statement either when it solicits or when it receives the payment from you. Where do i send my federal tax return 2012 Exception. Where do i send my federal tax return 2012   An organization will not have to give you this statement if one of the following is true. Where do i send my federal tax return 2012 The organization is: A governmental organization described in (5) under Types of Qualified Organizations , earlier, or An organization formed only for religious purposes, and the only benefit you receive is an intangible religious benefit (such as admission to a religious ceremony) that generally is not sold in commercial transactions outside the donative context. Where do i send my federal tax return 2012 You receive only items whose value is not substantial as described under Token items , earlier. Where do i send my federal tax return 2012 You receive only membership benefits that can be disregarded, as described under Membership fees or dues , earlier. Where do i send my federal tax return 2012 Expenses Paid for Student Living With You You may be able to deduct some expenses of having a student live with you. Where do i send my federal tax return 2012 You can deduct qualifying expenses for a foreign or American student who: Lives in your home under a written agreement between you and a qualified organization (defined later) as part of a program of the organization to provide educational opportunities for the student, Is not your relative (defined later) or dependent (also defined later), and Is a full-time student in the twelfth or any lower grade at a school in the United States. Where do i send my federal tax return 2012 You can deduct up to $50 a month for each full calendar month the student lives with you. Where do i send my federal tax return 2012 Any month when conditions (1) through (3) above are met for 15 or more days counts as a full month. Where do i send my federal tax return 2012 Qualified organization. Where do i send my federal tax return 2012   For these purposes, a qualified organization can be any of the organizations described earlier under Types of Qualified Organizations , except those in (4) and (5). Where do i send my federal tax return 2012 For example, if you are providing a home for a student as part of a state or local government program, you cannot deduct your expenses as charitable contributions. Where do i send my federal tax return 2012 But see Foster parents under Out-of-Pocket Expenses in Giving Services, later, if you provide the home as a foster parent. Where do i send my federal tax return 2012 Relative. Where do i send my federal tax return 2012   The term “relative” means any of the following persons. Where do i send my federal tax return 2012 Your child, stepchild, foster child, or a descendant of any of them (for example, your grandchild). Where do i send my federal tax return 2012 A legally adopted child is considered your child. Where do i send my federal tax return 2012 Your brother, sister, half brother, half sister, stepbrother, or stepsister. Where do i send my federal tax return 2012 Your father, mother, grandparent, or other direct ancestor. Where do i send my federal tax return 2012 Your stepfather or stepmother. Where do i send my federal tax return 2012 A son or daughter of your brother or sister. Where do i send my federal tax return 2012 A brother or sister of your father or mother. Where do i send my federal tax return 2012 Your son-in-law, daughter-in-law, father-in-law, mother-in-law, brother-in-law, or sister-in-law. Where do i send my federal tax return 2012 Dependent. Where do i send my federal tax return 2012   For this purpose, the term “dependent” means: A person you can claim as a dependent, or A person you could have claimed as a dependent except that: He or she received gross income of $3,900 or more, He or she filed a joint return, or You, or your spouse if filing jointly, could be claimed as a dependent on someone else's 2013 return. Where do i send my federal tax return 2012    Foreign students brought to this country under a qualified international education exchange program and placed in American homes for a temporary period generally are not U. Where do i send my federal tax return 2012 S. Where do i send my federal tax return 2012 residents and cannot be claimed as dependents. Where do i send my federal tax return 2012 Qualifying expenses. Where do i send my federal tax return 2012   You may be able to deduct the cost of books, tuition, food, clothing, transportation, medical and dental care, entertainment, and other amounts you actually spend for the well-being of the student. Where do i send my federal tax return 2012 Expenses that do not qualify. Where do i send my federal tax return 2012   You cannot deduct depreciation on your home, the fair market value of lodging, and similar items not considered amounts actually spent by you. Where do i send my federal tax return 2012 Nor can you deduct general household expenses, such as taxes, insurance, and repairs. Where do i send my federal tax return 2012 Reimbursed expenses. Where do i send my federal tax return 2012   In most cases, you cannot claim a charitable contribution deduction if you are compensated or reimbursed for any part of the costs of having a student live with you. Where do i send my federal tax return 2012 However, you may be able to claim a charitable contribution deduction for the unreimbursed portion of your expenses if you are reimbursed only for an extraordinary or one-time item, such as a hospital bill or vacation trip, you paid in advance at the request of the student's parents or the sponsoring organization. Where do i send my federal tax return 2012 Mutual exchange program. Where do i send my federal tax return 2012   You cannot deduct the costs of a foreign student living in your home under a mutual exchange program through which your child will live with a family in a foreign country. Where do i send my federal tax return 2012 Reporting expenses. Where do i send my federal tax return 2012   For a list of what you must file with your return if you deduct expenses for a student living with you, see Reporting expenses for student living with you under How To Report, later. Where do i send my federal tax return 2012 Out-of-Pocket Expenses in Giving Services Table 2. Where do i send my federal tax return 2012 Volunteers' Questions and Answers If you volunteer for a qualified organization, the following questions and answers may apply to you. Where do i send my federal tax return 2012 All of the rules explained in this publication also apply. Where do i send my federal tax return 2012 See, in particular, Out-of-Pocket Expenses in Giving Services . Where do i send my federal tax return 2012 Question Answer I volunteer 6 hours a week in the office of a qualified organization. Where do i send my federal tax return 2012 The receptionist is paid $10 an hour for the same work. Where do i send my federal tax return 2012 Can I deduct $60 a week for my time? No, you cannot deduct the value of your time or services. Where do i send my federal tax return 2012  The office is 30 miles from my home. Where do i send my federal tax return 2012 Can I deduct any of my car expenses for these trips? Yes, you can deduct the costs of gas and oil that are directly related to getting to and from the place where you volunteer. Where do i send my federal tax return 2012 If you do not want to figure your actual costs, you can deduct 14 cents for each mile. Where do i send my federal tax return 2012 I volunteer as a Red Cross nurse's aide at a hospital. Where do i send my federal tax return 2012 Can I deduct the cost of the uniforms I must wear? Yes, you can deduct the cost of buying and cleaning your uniforms if the hospital is a qualified organization, the uniforms are not suitable for everyday use, and you must wear them when volunteering. Where do i send my federal tax return 2012 I pay a babysitter to watch my children while I volunteer for a qualified organization. Where do i send my federal tax return 2012 Can I deduct these costs? No, you cannot deduct payments for childcare expenses as a charitable contribution, even if you would be unable to volunteer without childcare. Where do i send my federal tax return 2012 (If you have childcare expenses so you can work for pay, see Publication 503, Child and Dependent Care Expenses. Where do i send my federal tax return 2012 ) Although you cannot deduct the value of your services given to a qualified organization, you may be able to deduct some amounts you pay in giving services to a qualified organization. Where do i send my federal tax return 2012 The amounts must be: Unreimbursed, Directly connected with the services, Expenses you had only because of the services you gave, and Not personal, living, or family expenses. Where do i send my federal tax return 2012 Table 2 contains questions and answers that apply to some individuals who volunteer their services. Where do i send my federal tax return 2012 Underprivileged youths selected by charity. Where do i send my federal tax return 2012   You can deduct reasonable unreimbursed out-of-pocket expenses you pay to allow underprivileged youths to attend athletic events, movies, or dinners. Where do i send my federal tax return 2012 The youths must be selected by a charitable organization whose goal is to reduce juvenile delinquency. Where do i send my federal tax return 2012 Your own similar expenses in accompanying the youths are not deductible. Where do i send my federal tax return 2012 Conventions. Where do i send my federal tax return 2012   If a qualified organization selects you to attend a convention as its representative, you can deduct your unreimbursed expenses for travel, including reasonable amounts for meals and lodging, while away from home overnight for the convention. Where do i send my federal tax return 2012 However, see Travel , later. Where do i send my federal tax return 2012   You cannot deduct personal expenses for sightseeing, fishing parties, theater tickets, or nightclubs. Where do i send my federal tax return 2012 You also cannot deduct travel, meals and lodging, and other expenses for your spouse or children. Where do i send my federal tax return 2012   You cannot deduct your travel expenses in attending a church convention if you go only as a member of your church rather than as a chosen representative. Where do i send my federal tax return 2012 You can, however, deduct unreimbursed expenses that are directly connected with giving services for your church during the convention. Where do i send my federal tax return 2012 Uniforms. Where do i send my federal tax return 2012   You can deduct the cost and upkeep of uniforms that are not suitable for everyday use and that you must wear while performing donated services for a charitable organization. Where do i send my federal tax return 2012 Foster parents. Where do i send my federal tax return 2012   You may be able to deduct as a charitable contribution some of the costs of being a foster parent (foster care provider) if you have no profit motive in providing the foster care and are not, in fact, making a profit. Where do i send my federal tax return 2012 A qualified organization must select the individuals you take into your home for foster care. Where do i send my federal tax return 2012   You can deduct expenses that meet both of the following requirements. Where do i send my federal tax return 2012 They are unreimbursed out-of-pocket expenses to feed, clothe, and care for the foster child. Where do i send my federal tax return 2012 They are incurred primarily to benefit the qualified organization. Where do i send my federal tax return 2012   Unreimbursed expenses that you cannot deduct as charitable contributions may be considered support provided by you in determining whether you can claim the foster child as a dependent. Where do i send my federal tax return 2012 For details, see Publication 501, Exemptions, Standard Deduction, and Filing Information. Where do i send my federal tax return 2012 Example. Where do i send my federal tax return 2012 You cared for a foster child because you wanted to adopt her, not to benefit the agency that placed her in your home. Where do i send my federal tax return 2012 Your unreimbursed expenses are not deductible as charitable contributions. Where do i send my federal tax return 2012 Church deacon. Where do i send my federal tax return 2012   You can deduct as a charitable contribution any unreimbursed expenses you have while in a permanent diaconate program established by your church. Where do i send my federal tax return 2012 These expenses include the cost of vestments, books, and transportation required in order to serve in the program as either a deacon candidate or an ordained deacon. Where do i send my federal tax return 2012 Car expenses. Where do i send my federal tax return 2012   You can deduct as a charitable contribution any unreimbursed out-of-pocket expenses, such as the cost of gas and oil, directly related to the use of your car in giving services to a charitable organization. Where do i send my federal tax return 2012 You cannot deduct general repair and maintenance expenses, depreciation, registration fees, or the costs of tires or insurance. Where do i send my federal tax return 2012   If you do not want to deduct your actual expenses, you can use a standard mileage rate of 14 cents a mile to figure your contribution. Where do i send my federal tax return 2012   You can deduct parking fees and tolls whether you use your actual expenses or the standard mileage rate. Where do i send my federal tax return 2012   You must keep reliable written records of your car expenses. Where do i send my federal tax return 2012 For more information, see Car expenses under Records To Keep, later. Where do i send my federal tax return 2012 Travel. Where do i send my federal tax return 2012   Generally, you can claim a charitable contribution deduction for travel expenses necessarily incurred while you are away from home performing services for a charitable organization only if there is no significant element of personal pleasure, recreation, or vacation in the travel. Where do i send my federal tax return 2012 This applies whether you pay the expenses directly or indirectly. Where do i send my federal tax return 2012 You are paying the expenses indirectly if you make a payment to the charitable organization and the organization pays for your travel expenses. Where do i send my federal tax return 2012   The deduction for travel expenses will not be denied simply because you enjoy providing services to the charitable organization. Where do i send my federal tax return 2012 Even if you enjoy the trip, you can take a charitable contribution deduction for your travel expenses if you are on duty in a genuine and substantial sense throughout the trip. Where do i send my federal tax return 2012 However, if you have only nominal duties, or if for significant parts of the trip you do not have any duties, you cannot deduct your travel expenses. Where do i send my federal tax return 2012 Example 1. Where do i send my federal tax return 2012 You are a troop leader for a tax-exempt youth group and you take the group on a camping trip. Where do i send my federal tax return 2012 You are responsible for overseeing the setup of the camp and for providing adult supervision for other activities during the entire trip. Where do i send my federal tax return 2012 You participate in the activities of the group and enjoy your time with them. Where do i send my federal tax return 2012 You oversee the breaking of camp and you transport the group home. Where do i send my federal tax return 2012 You can deduct your travel expenses. Where do i send my federal tax return 2012 Example 2. Where do i send my federal tax return 2012 You sail from one island to another and spend 8 hours a day counting whales and other forms of marine life. Where do i send my federal tax return 2012 The project is sponsored by a charitable organization. Where do i send my federal tax return 2012 In most circumstances, you cannot deduct your expenses. Where do i send my federal tax return 2012 Example 3. Where do i send my federal tax return 2012 You work for several hours each morning on an archeological dig sponsored by a charitable organization. Where do i send my federal tax return 2012 The rest of the day is free for recreation and sightseeing. Where do i send my federal tax return 2012 You cannot take a charitable contribution deduction even though you work very hard during those few hours. Where do i send my federal tax return 2012 Example 4. Where do i send my federal tax return 2012 You spend the entire day attending a charitable organization's regional meeting as a chosen representative. Where do i send my federal tax return 2012 In the evening you go to the theater. Where do i send my federal tax return 2012 You can claim your travel expenses as charitable contributions, but you cannot claim the cost of your evening at the theater. Where do i send my federal tax return 2012 Daily allowance (per diem). Where do i send my federal tax return 2012   If you provide services for a charitable organization and receive a daily allowance to cover reasonable travel expenses, including meals and lodging while away from home overnight, you must include in income any part of the allowance that is more than your deductible travel expenses. Where do i send my federal tax return 2012 You may be able to deduct any necessary travel expenses that are more than the allowance. Where do i send my federal tax return 2012 Deductible travel expenses. Where do i send my federal tax return 2012   These include: Air, rail, and bus transportation, Out-of-pocket expenses for your car, Taxi fares or other costs of transportation between the airport or station and your hotel, Lodging costs, and The cost of meals. Where do i send my federal tax return 2012 Because these travel expenses are not business-related, they are not subject to the same limits as business related expenses. Where do i send my federal tax return 2012 For information on business travel expenses, see Travel in Publication 463, Travel, Entertainment, Gift, and Car Expenses. Where do i send my federal tax return 2012 Expenses of Whaling Captains You may be able to deduct as a charitable contribution any reasonable and necessary whaling expenses you pay during the year to carry out sanctioned whaling activities. Where do i send my federal tax return 2012 The deduction is limited to $10,000 a year. Where do i send my federal tax return 2012 To claim the deduction, you must be recognized by the Alaska Eskimo Whaling Commission as a whaling captain charged with the responsibility of maintaining and carrying out sanctioned whaling activities. Where do i send my federal tax return 2012 Sanctioned whaling activities are subsistence bowhead whale hunting activities conducted under the management plan of the Alaska Eskimo Whaling Commission. Where do i send my federal tax return 2012 Whaling expenses include expenses for: Acquiring and maintaining whaling boats, weapons, and gear used in sanctioned whaling activities, Supplying food for the crew and other provisions for carrying out these activities, and Storing and distributing the catch from these activities. Where do i send my federal tax return 2012 You must keep records showing the time, place, date, amount, and nature of the expenses. Where do i send my federal tax return 2012 For details, see Revenue Procedure 2006-50, which is on page 944 of Internal Revenue Bulletin 2006-47 at www. Where do i send my federal tax return 2012 irs. Where do i send my federal tax return 2012 gov/pub/irs-irbs/irb06-47. Where do i send my federal tax return 2012 pdf. Where do i send my federal tax return 2012 Contributions You Cannot Deduct There are some contributions you cannot deduct and others you can deduct only in part. Where do i send my federal tax return 2012 You cannot deduct as a charitable contribution: A contribution to a specific individual, A contribution to a nonqualified organization, The part of a contribution from which you receive or expect to receive a benefit, The value of your time or services, Your personal expenses, A qualified charitable distribution from an individual retirement arrangement (IRA), Appraisal fees, Certain contributions to donor-advised funds, or Certain contributions of partial interests in property. Where do i send my federal tax return 2012 Detailed discussions of these items follow. Where do i send my federal tax return 2012 Contributions to Individuals You cannot deduct contributions to specific individuals, including the following. Where do i send my federal tax return 2012 Contributions to fraternal societies made for the purpose of paying medical or burial expenses of members. Where do i send my federal tax return 2012 Contributions to individuals who are needy or worthy. Where do i send my federal tax return 2012 You cannot deduct these contributions even if you make them to a qualified organization for the benefit of a specific person. Where do i send my federal tax return 2012 But you can deduct a contribution to a qualified organization that helps needy or worthy individuals if you do not indicate that your contribution is for a specific person. Where do i send my federal tax return 2012 Example. Where do i send my federal tax return 2012 You can deduct contributions to a qualified organization for flood relief, hurricane relief, or other disaster relief. Where do i send my federal tax return 2012 However, you cannot deduct contributions earmarked for relief of a particular individual or family. Where do i send my federal tax return 2012 Payments to a member of the clergy that can be spent as he or she wishes, such as for personal expenses. Where do i send my federal tax return 2012 Expenses you paid for another person who provided services to a qualified organization. Where do i send my federal tax return 2012 Example. Where do i send my federal tax return 2012 Your son does missionary work. Where do i send my federal tax return 2012 You pay his expenses. Where do i send my federal tax return 2012 You cannot claim a deduction for your son's unreimbursed expenses related to his contribution of services. Where do i send my federal tax return 2012 Payments to a hospital that are for a specific patient's care or for services for a specific patient. Where do i send my federal tax return 2012 You cannot deduct these payments even if the hospital is operated by a city, state, or other qualified organization. Where do i send my federal tax return 2012 Contributions to Nonqualified Organizations You cannot deduct contributions to organizations that are not qualified to receive tax-deductible contributions, including the following. Where do i send my federal tax return 2012 Certain state bar associations if: The bar is not a political subdivision of a state, The bar has private, as well as public, purposes, such as promoting the professional interests of members, and Your contribution is unrestricted and can be used for private purposes. Where do i send my federal tax return 2012 Chambers of commerce and other business leagues or organizations. Where do i send my federal tax return 2012 Civic leagues and associations. Where do i send my federal tax return 2012 Communist organizations. Where do i send my federal tax return 2012 Country clubs and other social clubs. Where do i send my federal tax return 2012 Foreign organizations other than certain Canadian, Israeli, or Mexican charitable organizations. Where do i send my federal tax return 2012 (See Canadian charities , Mexican charities , and Israeli charities under Organizations That Qualify To Receive Deductible Contributions, earlier. Where do i send my federal tax return 2012 ) Also, you cannot deduct a contribution you made to any qualifying organization if the contribution is earmarked to go to a foreign organization. Where do i send my federal tax return 2012 However, certain contributions to a qualified organization for use in a program conducted by a foreign charity may be deductible as long as they are not earmarked to go to the foreign charity. Where do i send my federal tax return 2012 For the contribution to be deductible, the qualified organization must approve the program as furthering its own exempt purposes and must keep control over the use of the contributed funds. Where do i send my federal tax return 2012 The contribution is also deductible if the foreign charity is only an administrative arm of the qualified organization. Where do i send my federal tax return 2012 Homeowners' associations. Where do i send my federal tax return 2012 Labor unions. Where do i send my federal tax return 2012 But you may be able to deduct union dues as a miscellaneous itemized deduction, subject to the 2%-of-adjusted-gross-income limit, on Schedule A (Form 1040). Where do i send my federal tax return 2012 See Publication 529, Miscellaneous Deductions. Where do i send my federal tax return 2012 Political organizations and candidates. Where do i send my federal tax return 2012 Contributions From Which You Benefit If you receive or expect to receive a financial or economic benefit as a result of making a contribution to a qualified organization, you cannot deduct the part of the contribution that represents the value of the benefit you receive. Where do i send my federal tax return 2012 See Contributions From Which You Benefit under Contributions You Can Deduct, earlier. Where do i send my federal tax return 2012 These contributions include the following. Where do i send my federal tax return 2012 Contributions for lobbying. Where do i send my federal tax return 2012 This includes amounts you earmark for use in, or in connection with, influencing specific legislation. Where do i send my federal tax return 2012 Contributions to a retirement home for room, board, maintenance, or admittance. Where do i send my federal tax return 2012 Also, if the amount of your contribution depends on the type or size of apartment you will occupy, it is not a charitable contribution. Where do i send my federal tax return 2012 Costs of raffles, bingo, lottery, etc. Where do i send my federal tax return 2012 You cannot deduct as a charitable contribution amounts you pay to buy raffle or lottery tickets or to play bingo or other games of chance. Where do i send my federal tax return 2012 For information on how to report gambling winnings and losses, see Deductions Not Subject to the 2% Limit in Publication 529. Where do i send my federal tax return 2012 Dues to fraternal orders and similar groups. Where do i send my federal tax return 2012 However, see Membership fees or dues under Contributions From Which You Benefit, earlier. Where do i send my federal tax return 2012 Tuition, or amounts you pay instead of tuition. Where do i send my federal tax return 2012 You cannot deduct as a charitable contribution amounts you pay as tuition even if you pay them for children to attend parochial schools or qualifying nonprofit daycare centers. Where do i send my federal tax return 2012 You also cannot deduct any fixed amount you must pay in addition to, or instead of, tuition to enroll in a private school, even if it is designated as a “donation. Where do i send my federal tax return 2012 ” Contributions connected with split-dollar insurance arrangements. Where do i send my federal tax return 2012 You cannot deduct any part of a contribution to a charitable organization if, in connection with the contribution, the organization directly or indirectly pays, has paid, or is expected to pay any premium on any life insurance, annuity, or endowment contract for which you, any member of your family, or any other person chosen by you (other than a qualified charitable organization) is a beneficiary. Where do i send my federal tax return 2012 Example. Where do i send my federal tax return 2012 You donate money to a charitable organization. Where do i send my federal tax return 2012 The charity uses the money to purchase a cash value life insurance policy. Where do i send my federal tax return 2012 The beneficiaries under the insurance policy include members of your family. Where do i send my federal tax return 2012 Even though the charity may eventually get some benefit out of the insurance policy, you cannot deduct any part of the donation. Where do i send my federal tax return 2012 Qualified Charitable Distributions A qualified charitable distribution (QCD) is a distribution made directly by the trustee of your individual retirement arrangement (IRA), other than a SEP or SIMPLE IRA, to certain qualified organizations. Where do i send my federal tax return 2012 You must have been at least age 70½ when the distribution was made. Where do i send my federal tax return 2012 Your total QCDs for the year cannot be more than $100,000. Where do i send my federal tax return 2012 If all the requirements are met, a QCD is nontaxable, but you cannot claim a charitable contribution deduction for a QCD. Where do i send my federal tax return 2012 See Publication 590, Individual Retirement Arrangements (IRAs), for more information about QCDs. Where do i send my federal tax return 2012 Value of Time or Services You cannot deduct the value of your time or services, including: Blood donations to the American Red Cross or to blood banks, and The value of income lost while you work as an unpaid volunteer for a qualified organization. Where do i send my federal tax return 2012 Personal Expenses You cannot deduct personal, living, or family expenses, such as the following items. Where do i send my federal tax return 2012 The cost of meals you eat while you perform services for a qualified organization, unless it is necessary for you to be away from home overnight while performing the services. Where do i send my federal tax return 2012 Adoption expenses, including fees paid to an adoption agency and the costs of keeping a child in your home before adoption is final. Where do i send my federal tax return 2012 However, you may be able to claim a tax credit for these expenses. Where do i send my federal tax return 2012 Also, you may be able to exclude from your gross income amounts paid or reimbursed by your employer for your adoption expenses. Where do i send my federal tax return 2012 See Form 8839, Qualified Adoption Expenses, and its instructions, for more information. Where do i send my federal tax return 2012 You also may be able to claim an exemption for the child. Where do i send my federal tax return 2012 See Exemptions for Dependents in Publication 501 for more information. Where do i send my federal tax return 2012 Appraisal Fees You cannot deduct as a charitable contribution any fees you pay to find the fair market value of donated property. Where do i send my federal tax return 2012 But you can claim them, subject to the 2%-of-adjusted-gross-income limit, as a miscellaneous itemized deduction on Schedule A (Form 1040). Where do i send my federal tax return 2012 See Deductions Subject to the 2% Limit in Publication 529 for more information. Where do i send my federal tax return 2012 Contributions to Donor-Advised Funds You cannot deduct a contribution to a donor-advised fund if: The qualified organization that sponsors the fund is a war veterans' organization, a fraternal society, or a nonprofit cemetery company, or You do not have an acknowledgment from that sponsoring organization that it has exclusive legal control over the assets contributed. Where do i send my federal tax return 2012 There are also other circumstances in which you cannot deduct your contribution to a donor-advised fund. Where do i send my federal tax return 2012 Generally, a donor-advised fund is a fund or account in which a donor can, because of being a donor, advise the fund how to distribute or invest amounts held in the fund. Where do i send my federal tax return 2012 For details, see Internal Revenue Code section 170(f)(18). Where do i send my federal tax return 2012 Partial Interest in Property Generally, you cannot deduct a contribution of less than your entire interest in property. Where do i send my federal tax return 2012 For details, see Partial Interest in Property under Contributions of Property, later. Where do i send my federal tax return 2012 Contributions of Property If you contribute property to a qualified organization, the amount of your charitable contribution is generally the fair market value of the property at the time of the contribution. Where do i send my federal tax return 2012 However, if the property has increased in value, you may have to make some adjustments to the amount of your deduction. Where do i send my federal tax return 2012 See Giving Property That Has Increased in Value , later. Where do i send my federal tax return 2012 For information about the records you must keep and the information you must furnish with your return if you donate property, see Records To Keep and How To Report , later. Where do i send my federal tax return 2012 Contributions Subject to Special Rules Special rules apply if you contribute: Clothing or household items, A car, boat, or airplane, Taxidermy property, Property subject to a debt, A partial interest in property, A fractional interest in tangible personal property, A qualified conservation contribution, A future interest in tangible personal property, Inventory from your business, or A patent or other intellectual property. Where do i send my federal tax return 2012 These special rules are described next. Where do i send my federal tax return 2012 Clothing and Household Items You cannot take a deduction for clothing or household items you donate unless the clothing or household items are in good used condition or better. Where do i send my federal tax return 2012 Exception. Where do i send my federal tax return 2012   You can take a deduction for a contribution of an item of clothing or a household item that is not in good used condition or better if you deduct more than $500 for it and include a qualified appraisal of it with your return. Where do i send my federal tax return 2012 Household items. Where do i send my federal tax return 2012   Household items include: Furniture and furnishings, Electronics, Appliances, Linens, and Other similar items. Where do i send my federal tax return 2012   Household items do not include: Food, Paintings, antiques, and other objects of art, Jewelry and gems, and Collections. Where do i send my federal tax return 2012 Fair market value. Where do i send my federal tax return 2012   To determine the fair market value of these items, use the rules under Determining Fair Market Value , later. Where do i send my federal tax return 2012 Cars, Boats, and Airplanes The following rules apply to any donation of a qualified vehicle. Where do i send my federal tax return 2012 A qualified vehicle is: A car or any motor vehicle manufactured mainly for use on public streets, roads, and highways, A boat, or An airplane. Where do i send my federal tax return 2012 Deduction more than $500. Where do i send my federal tax return 2012   If you donate a qualified vehicle with a claimed fair market value of more than $500, you can deduct the smaller of: The gross proceeds from the sale of the vehicle by the organization, or The vehicle's fair market value on the date of the contribution. Where do i send my federal tax return 2012 If the vehicle's fair market value was more than your cost or other basis, you may have to reduce the fair market value to figure the deductible amount, as described under Giving Property That Has Increased in Value , later. Where do i send my federal tax return 2012 Form 1098-C. Where do i send my federal tax return 2012   You must attach to your return Copy B of the Form 1098-C, Contributions of Motor Vehicles, Boats, and Airplanes, (or other statement containing the same information as Form 1098-C) you received from the organization. Where do i send my federal tax return 2012 The Form 1098-C (or other statement) will show the gross proceeds from the sale of the vehicle. Where do i send my federal tax return 2012   If you e-file your return, you must: Attach Copy B of Form 1098-C to Form 8453, U. Where do i send my federal tax return 2012 S. Where do i send my federal tax return 2012 Individual Income Tax Transmittal for an IRS e-file Return, and mail the forms to the IRS, or Include Copy B of Form 1098-C as a pdf attachment if your software program allows it. Where do i send my federal tax return 2012   If you do not attach Form 1098-C (or other statement), you cannot deduct your contribution. Where do i send my federal tax return 2012    You must get Form 1098-C (or other statement) within 30 days of the sale of the vehicle. Where do i send my federal tax return 2012 But if exception 1 or 2 (described later) applies, you must get Form 1098-C (or other statement) within 30 days of your donation. Where do i send my federal tax return 2012 Filing deadline approaching and still no Form 1098-C. Where do i send my federal tax return 2012   If the filing deadline is approaching and you still do not have a Form 1098-C, you have two choices. Where do i send my federal tax return 2012 Request an automatic 6-month extension of time to file your return. Where do i send my federal tax return 2012 You can get this extension by filing Form 4868, Application for Automatic Extension of Time To File U. Where do i send my federal tax return 2012 S. Where do i send my federal tax return 2012 Individual Income Tax Return. Where do i send my federal tax return 2012 For more information, see the instructions for Form 4868. Where do i send my federal tax return 2012 File the return on time without claiming the deduction for the qualified vehicle. Where do i send my federal tax return 2012 After receiving the Form 1098-C, file an amended return, Form 1040X, Amended U. Where do i send my federal tax return 2012 S. Where do i send my federal tax return 2012 Individual Income Tax Return, claiming the deduction. Where do i send my federal tax return 2012 Attach Copy B of Form 1098-C (or other statement) to the amended return. Where do i send my federal tax return 2012 Exceptions. Where do i send my federal tax return 2012   There are two exceptions to the rules just described for deductions of more than $500. Where do i send my federal tax return 2012 Exception 1—vehicle used or improved by organization. Where do i send my federal tax return 2012   If the qualified organization makes a significant intervening use of or material improvement to the vehicle before transferring it, you generally can deduct the vehicle's fair market value at the time of the contribution. Where do i send my federal tax return 2012 But if the vehicle's fair market value was more than your cost or other basis, you may have to reduce the fair market value to get the deductible amount, as described under Giving Property That Has Increased in Value , later. Where do i send my federal tax return 2012 The Form 1098-C (or other statement) will show whether this exception applies. Where do i send my federal tax return 2012    Exception 2—vehicle given or sold to needy individual. Where do i send my federal tax return 2012   If the qualified organization will give the vehicle, or sell it for a price well below fair market value, to a needy individual to further the organization's charitable purpose, you generally can deduct the vehicle's fair market value at the time of the contribution. Where do i send my federal tax return 2012 But if the vehicle's fair market value was more than your cost or other basis, you may have to reduce the fair market value to get the deductible amount, as described under Giving Property That Has Increased in Value , later. Where do i send my federal tax return 2012 The Form 1098-C (or other statement) will show whether this exception applies. Where do i send my federal tax return 2012   This exception does not apply if the organization sells the vehicle at auction. Where do i send my federal tax return 2012 In that case, you cannot deduct the vehicle's fair market value. Where do i send my federal tax return 2012 Example. Where do i send my federal tax return 2012 Anita donates a used car to a qualified organization. Where do i send my federal tax return 2012 She bought it 3 years ago for $9,000. Where do i send my federal tax return 2012 A used car guide shows the fair market value for this type of car is $6,000. Where do i send my federal tax return 2012 However, Anita gets a Form 1098-C from the organization showing the car was sold for $2,900. Where do i send my federal tax return 2012 Neither exception 1 nor exception 2 applies. Where do i send my federal tax return 2012 If Anita itemizes her deductions, she can deduct $2,900 for her donation. Where do i send my federal tax return 2012 She must attach Form 1098-C and Form 8283 to her return. Where do i send my federal tax return 2012 Deduction $500 or less. Where do i send my federal tax return 2012   If the qualified organization sells the vehicle for $500 or less and exceptions 1 and 2 do not apply, you can deduct the smaller of: $500, or The vehicle's fair market value on the date of the contribution. Where do i send my federal tax return 2012 But if the vehicle's fair market value was more than your cost or other basis, you may have to reduce the fair market value to get the deductible amount, as described under Giving Property That Has Increased in Value , later. Where do i send my federal tax return 2012   If the vehicle's fair market value is at least $250 but not more than $500, you must have a written statement from the qualified organization acknowledging your donation. Where do i send my federal tax return 2012 The statement must contain the information and meet the tests for an acknowledgment described under Contributions of $250 or More under Records To Keep, later. Where do i send my federal tax return 2012 Fair market value. Where do i send my federal tax return 2012   To determine a vehicle's fair market value, use the rules described under Determining Fair Market Value , later. Where do i send my federal tax return 2012 Donations of inventory. Where do i send my federal tax return 2012   The vehicle donation rules just described do not apply to donations of inventory. Where do i send my federal tax return 2012 For example, these rules do not apply if you are a car dealer who donates a car you had been holding for sale to customers. Where do i send my federal tax return 2012 See Inventory , later. Where do i send my federal tax return 2012 Taxidermy Property If you donate taxidermy property to a qualified organization, your deduction is limited to your basis in the property or its fair market value, whichever is less. Where do i send my federal tax return 2012 This applies if you prepared, stuffed, or mounted the property or paid or incurred the cost of preparing, stuffing, or mounting the property. Where do i send my federal tax return 2012 Your basis for this purpose includes only the cost of preparing, stuffing, and mounting the property. Where do i send my federal tax return 2012 Your basis does not include transportation or travel costs. Where do i send my federal tax return 2012 It also does not include the direct or indirect costs for hunting or killing an animal, such as equipment costs. Where do i send my federal tax return 2012 In addition, it does not include the value of your time. Where do i send my federal tax return 2012 Taxidermy property means any work of art that: Is the reproduction or preservation of an animal, in whole or in part, Is prepared, stuffed, or mounted to recreate one or more characteristics of the animal, and Contains a part of the body of the dead animal. Where do i send my federal tax return 2012 Property Subject to a Debt If you contribute property subject to a debt (such as a mortgage), you must reduce the fair market value of the property by: Any allowable deduction for interest you paid (or will pay) that is attributable to any period after the contribution, and If the property is a bond, the lesser of: Any allowable deduction for interest you paid (or will pay) to buy or carry the bond that is attributable to any period before the contribution, or The interest, including bond discount, receivable on the bond that is attributable to any period before the contribution, and that is not includible in your income due to your accounting method. Where do i send my federal tax return 2012 This prevents you from deducting the same amount as both investment interest and a charitable contribution. Where do i send my federal tax return 2012 If the recipient (or another person) assumes the debt, you must also reduce the fair market value of the property by the amount of the outstanding debt assumed. Where do i send my federal tax return 2012 The amount of the debt is also treated as an amount realized on the sale or exchange of property for purposes of figuring your taxable gain (if any). Where do i send my federal tax return 2012 For more information, see Bargain Sales under Giving Property That Has Increased in Value, later. Where do i send my federal tax return 2012 Partial Interest in Property Generally, you cannot deduct a charitable contribution of less than your entire interest in property. Where do i send my federal tax return 2012 Right to use property. Where do i send my federal tax return 2012   A contribution of the right to use property is a contribution of less than your entire interest in that property and is not deductible. Where do i send my federal tax return 2012 Example 1. Where do i send my federal tax return 2012 You own a 10-story office building and donate rent-free use of the top floor to a charitable organization. Where do i send my federal tax return 2012 Because you still own the building, you have contributed a partial interest in the property and cannot take a deduction for the contribution. Where do i send my federal tax return 2012 Example 2. Where do i send my federal tax return 2012 Mandy White owns a vacation home at the beach that she sometimes rents to others. Where do i send my federal tax return 2012 For a fund-raising auction at her church, she donated the right to use the vacation home for 1 week. Where do i send my federal tax return 2012 At the auction, the church received and accepted a bid from Lauren Green equal to the fair rental value of the home for 1 week. Where do i send my federal tax return 2012 Mandy cannot claim a deduction because of the partial interest rule. Where do i send my federal tax return 2012 Lauren cannot claim a deduction either, because she received a benefit equal to the amount of her payment. Where do i send my federal tax return 2012 See Contributions From Which You Benefit , earlier. Where do i send my federal tax return 2012 Exceptions. Where do i send my federal tax return 2012   You can deduct a charitable contribution of a partial interest in property only if that interest represents one of the following items. Where do i send my federal tax return 2012 A remainder interest in your personal home or farm. Where do i send my federal tax return 2012 A remainder interest is one that passes to a beneficiary after the end of an earlier interest in the property. Where do i send my federal tax return 2012 Example. Where do i send my federal tax return 2012 You keep the right to live in your home during your lifetime and give your church a remainder interest that begins upon your death. Where do i send my federal tax return 2012 You can deduct the value of the remainder interest. Where do i send my federal tax return 2012 An undivided part of your entire interest. Where do i send my federal tax return 2012 This must consist of a part of every substantial interest or right you own in the property and must last as long as your interest in the property lasts. Where do i send my federal tax return 2012 But see Fractional Interest in Tangible Personal Property , later. Where do i send my federal tax return 2012 Example. Where do i send my federal tax return 2012 You contribute voting stock to a qualified organization but keep the right to vote the stock. Where do i send my federal tax return 2012 The right to vote is a substantial right in the stock. Where do i send my federal tax return 2012 You have not contributed an undivided part of your entire interest and cannot deduct your contribution. Where do i send my federal tax return 2012 A partial interest that would be deductible if transferred to certain types of trusts. Where do i send my federal tax return 2012 A qualified conservation contribution (defined later). Where do i send my federal tax return 2012 For information about how to figure the value of a contribution of a partial interest in property, see Partial Interest in Property Not in Trust in Publication 561. Where do i send my federal tax return 2012 Fractional Interest in Tangible Personal Property You cannot deduct a charitable contribution of a fractional interest in tangible personal property unless all interests in the property are held immediately before the contribution by: You, or You and the qualifying organization receiving the contribution. Where do i send my federal tax return 2012 If you make an additional contribution later, the fair market value of that contribution will be determined by using the smaller of: The fair market value of the property at the time of the initial contribution, or The fair market value of the property at the time of the additional contribution. Where do i send my federal tax return 2012 Tangible personal property is defined later under Future Interest in Tangible Personal Property . Where do i send my federal tax return 2012 A fractional interest in property is an undivided portion of your entire interest in the property. Where do i send my federal tax return 2012 Example. Where do i send my federal tax return 2012 An undivided one-quarter interest in a painting that entitles an art museum to possession of the painting for 3 months of each year is a fractional interest in the property. Where do i send my federal tax return 2012 Recapture of deduction. Where do i send my federal tax return 2012   You must recapture your charitable contribution deduction by including it in your income if both of the following statements are true. Where do i send my federal tax return 2012 You contributed a fractional interest in tangible personal property after August 17, 2006. Where do i send my federal tax return 2012 You do not contribute the rest of your interests in the property to the original recipient or, if it no longer exists, another qualified organization on or before the earlier of: The date that is 10 years after the date of the initial contribution, or The date of your death. Where do i send my federal tax return 2012   Recapture is also required if the qualified organization has not taken substantial physical possession of the property and used it in a way related to the organization's purpose during the period beginning on the date of the initial contribution and ending on the earlier of: The date that is 10 years after the date of the initial contribution, or The date of your death. Where do i send my federal tax return 2012 Additional tax. Where do i send my federal tax return 2012   If you must recapture your deduction, you must also pay interest and an additional tax equal to 10% of the amount recaptured. Where do i send my federal tax return 2012 Qualified Conservation Contribution A qualified conservation contribution is a contribution of a qualified real property interest to a qualified organization to be used only for conservation purposes. Where do i send my federal tax return 2012 Qualified organization. Where do i send my federal tax return 2012   For purposes of a qualified conservation contribution, a qualified organization is: A governmental unit, A publicly supported charity, or An organization controlled by, and operated for the exclusive benefit of, a governmental unit or a publicly supported charity. Where do i send my federal tax return 2012 The organization also must have a commitment to protect the conservation purposes of the donation and must have the resources to enforce the restrictions. Where do i send my federal tax return 2012   A publicly supported charity is an organization of the type described in (1) under Types of Qualified Organizations , earlier, that normally receives a substantial part of its support, other than income from its exempt activities, from direct or indirect contributions from the general public or from governmental units. Where do i send my federal tax return 2012 Qualified real property interest. Where do i send my federal tax return 2012   This is any of the following interests in real property. Where do i send my federal tax return 2012 Your entire interest in real estate other than a mineral interest (subsurface oil, gas, or other minerals, and the right of access to these minerals). Where do i send my federal tax return 2012 A remainder interest. Where do i send my federal tax return 2012 A restriction (granted in perpetuity) on the use that may be made of the real property. Where do i send my federal tax return 2012 Conservation purposes. Where do i send my federal tax return 2012   Your contribution must be made only for one of the following conservation purposes. Where do i send my federal tax return 2012 Preserving land areas for outdoor recreation by, or for the education of, the general public. Where do i send my federal tax return 2012 Protecting a relatively natural habitat of fish, wildlife, or plants, or a similar ecosystem. Where do i send my federal tax return 2012 Preserving open space, including farmland and forest land, if it yields a significant public benefit. Where do i send my federal tax return 2012 The open space must be preserved either for the scenic enjoyment of the general public or under a clearly defined federal, state, or local governmental conservation policy. Where do i send my federal tax return 2012 Preserving a historically important land area or a certified historic structure. Where do i send my federal tax return 2012 Building in registered historic district. Where do i send my federal tax return 2012   If a building in a registered historic district is a certified historic structure, a contribution of a qualified real property interest that is an easement or other restriction on the exterior of the building is deductible only if it meets all of the following conditions. Where do i send my federal tax return 2012 The restriction must preserve the entire exterior of the building (including its front, sides, rear, and height) and must prohibit any change to the exterior of the building that is inconsistent with its historical character. Where do i send my federal tax return 2012 You and the organization receiving the contribution must enter into a written agreement certifying, under penalty of perjury, that the organization: Is a qualified organization with a purpose of environmental protection, land conservation, open space preservation, or historic preservation, and Has the resources to manage and enforce the restriction and a commitment to do so. Where do i send my federal tax return 2012 You must include with your return: A qualified appraisal, Photographs of the building's entire exterior, and A description of all restrictions on development of the building, such as zoning laws and restrictive covenants. Where do i send my federal tax return 2012   If you claimed the rehabilitation credit for the building for any of the 5 years before the year of the contribution, your charitable deduction is reduced. Where do i send my federal tax return 2012 For more information, see Form 3468, Investment Credit, and Internal Revenue Code section 170(f)(14). Where do i send my federal tax return 2012   If you claim a deduction of more than $10,000, your deduction will not be allowed unless you pay a $500 filing fee. Where do i send my federal tax return 2012 See Form 8283-V, Payment Voucher for Filing Fee Under Section 170(f)(13), and its instructions. Where do i send my federal tax return 2012 You may be able to deduct the filing fee as a miscellaneous itemized deduction, subject to the 2%-of-adjusted-gross-income limit, on Schedule A (Form 1040). Where do i send my federal tax return 2012 See Deductions Subject to the 2% Limit in Publication 529 for more information. Where do i send my federal tax return 2012 More information. Where do i send my federal tax return 2012   For information about determining the fair market value of qualified conservation contributions, see Publication 561. Where do i send my federal tax return 2012 For information about the limits that apply to deductions for this type of contribution, see Limits on Deductions , later. Where do i send my federal tax return 2012 For more information about qualified conservation contributions, see Regulations section 1. Where do i send my federal tax return 2012 170A-14. Where do i send my federal tax return 2012 Future Interest in Tangible Personal Property You cannot deduct the value of a charitable contribution of a future interest in tangible personal property until all intervening interests in and rights to the actual possession or enjoyment of the property have either expired or been turned over to someone other than yourself, a related person, or a related organization. Where do i send my federal tax return 2012 But see Fractional Interest in Tangible Personal Property , earlier, and Tangible personal property put to unrelated use , later. Where do i send my federal tax return 2012 Related persons include your spouse, children, grandchildren, brothers, sisters, and parents. Where do i send my federal tax return 2012 Related organizations may include a partnership or corporation in which you have an interest, or an estate or trust with which you have a connection. Where do i send my federal tax return 2012 Tangible personal property. Where do i send my federal tax return 2012   This is any property, other than land or buildings, that can be seen or touched. Where do i send my federal tax return 2012 It includes furniture, books, jewelry, paintings, and cars. Where do i send my federal tax return 2012 Future interest. Where do i send my federal tax return 2012   This is any interest that is to begin at some future time, regardless of whether it is designated as a future interest under state law. Where do i send my federal tax return 2012 Example. Where do i send my federal tax return 2012 You own an antique car that you contribute to a museum. Where do i send my federal tax return 2012 You give up ownership, but retain the right to keep the car in your garage with your personal collection. Where do i send my federal tax return 2012 Because you keep an interest in the property, you cannot deduct the contribution. Where do i send my federal tax return 2012 If you turn the car over to the museum in a later year, giving up all rights to its use, possession, and enjoyment, you can take a deduction for the contribution in that later year. Where do i send my federal tax return 2012 Inventory If you contribute inventory (property you sell in the course of your business), the amount you can deduct is the smaller of its fair market value on the day you contributed it or its basis. Where do i send my federal tax return 2012 The basis of contributed inventory is any cost incurred for the inventory in an earlier year that you would otherwise include in your opening inventory for the year of the contribution. Where do i send my federal tax return 2012 You must remove the amount of your charitable contribution deduction from your opening inventory. Where do i send my federal tax return 2012 It is not part of the cost of goods sold. Where do i send my federal tax return 2012 If the cost of donated inventory is not included in your opening inventory, the inventory's basis is zero and you cannot claim a charitable contribution deduction. Where do i send my federal tax return 2012 Treat the inventory's cost as you would ordinarily treat it under your method of accounting. Where do i send my federal tax return 2012 For example, include the purchase price of inventory bought and donated in the same year in the cost of goods sold for that year. Where do i send my federal tax return 2012 A special rule applies to certain donations of food inventory. Where do i send my federal tax return 2012 See Food Inventory, later. Where do i send my federal tax return 2012 Patents and Other Intellectual Property If you donate intellectual property to a qualified organization, your deduction is limited to the basis of the property or the fair market value of the property, whichever is smaller. Where do i send my federal tax return 2012 Intellectual property means any of the following: Patents. Where do i send my federal tax return 2012 Copyrights (other than a copyright described in Internal Revenue Code sections 1221(a)(3) or 1231(b)(1)(C)). Where do i send my federal tax return 2012 Trademarks. Where do i send my federal tax return 2012 Trade names. Where do i send my federal tax return 2012 Trade secrets. Where do i send my federal tax return 2012 Know-how. Where do i send my federal tax return 2012 Software (other than software described in Internal Revenue Code section 197(e)(3)(A)(i)). Where do i send my federal tax return 2012 Other similar property or applications or registrations of such property. Where do i send my federal tax return 2012 Additional deduction based on income. Where do i send my federal tax return 2012   You may be able to claim additional charitable contribution deductions in the year of the contribution and years following, based on the income, if any, from the donated property. Where do i send my federal tax return 2012   The following table shows the percentage of income from the property that you can deduct for each of your tax years ending on or after the date of the contribution. Where do i send my federal tax return 2012 In the table, “tax year 1,” for example, means your first tax year ending on or after the date of the contribution. Where do i send my federal tax return 2012 However, you can take the additional deduction only to the extent the total of the amounts figured using this table is more than the amount of the deduction claimed for the original donation of the property. Where do i send my federal tax return 2012   After the legal life of the intellectual property ends, or after the 10th anniversary of the donation, whichever is earlier, no additional deduction is allowed. Where do i send my federal tax return 2012 The additional deductions cannot be taken for intellectual property donated to certain private foundations. Where do i send my federal tax return 2012 Tax year Deductible percentage 1 100% 2 100% 3 90% 4 80% 5 70% 6 60% 7 50% 8 40% 9 30% 10 20% 11 10% 12 10% Reporting requirements. Where do i send my federal tax return 2012   You must inform the organization at the time of the donation that you intend to treat the donation as a contribution subject to the provisions just discussed. Where do i send my federal tax return 2012   The organization is required to file an information return showing the income from the property, with a copy to you. Where do i send my federal tax return 2012 This is done on Form 8899, Notice of Income From Donated Intellectual Property. Where do i send my federal tax return 2012 Determining Fair Market Value This section discusses general guidelines for determining the fair market value of various types of donated property. Where do i send my federal tax return 2012 Publication 561 contains a more complete discussion. Where do i send my federal tax return 2012 Fair market value is the price at which property would change hands between a willing buyer and a willing seller, neither having to buy or sell, and both having reasonable knowledge of all the relevant facts. Where do i send my federal tax return 2012 Used clothing. Where do i send my federal tax return 2012   The fair market value of used clothing and other personal items is usually far less than the price you paid for them. Where do i send my federal tax return 2012 There are no fixed formulas or methods for finding the value of items of clothing. Where do i send my federal tax return 2012   You should claim as the value the price that buyers of used items actually pay in used clothing stores, such as consignment or thrift shops. Where do i send my federal tax return 2012      Also see Clothing and Household Items , earlier. Where do i send my federal tax return 2012 Example. Where do i send my federal tax return 2012    Kristin donated a coat to a thrift store operated by her church. Where do i send my federal tax return 2012 She paid $300 for the coat 3 years ago. Where do i send my federal tax return 2012 Similar coats in the thrift store sell for $50. Where do i send my federal tax return 2012 The fair market value of the coat is $50. Where do i send my federal tax return 2012 Kristin's donation is limited to $50. Where do i send my federal tax return 2012 Household items. Where do i send my federal tax return 2012   The fair market value of used household items, such as furniture, appliances, and linens, is usually much lower than the price paid when new. Where do i send my federal tax return 2012 These items may have little or no market value because they are in a worn condition, out of style, or no longer useful. Where do i send my federal tax return 2012 For these reasons, formulas (such as using a percentage of the cost to buy a new replacement item) are not acceptable in determining value. Where do i send my federal tax return 2012   You should support your valuation with photographs, canceled checks, receipts from your purchase of the items, or other evidence. Where do i send my federal tax return 2012 Magazine or newspaper articles and photographs that describe the items and statements by the recipients of the items are also useful. Where do i send my federal tax return 2012 Do not include any of this evidence with your tax return. Where do i send my federal tax return 2012   If the property is valuable because it is old or unique, see the discussion under Paintings, Antiques, and Other Objects of Art in Publication 561. Where do i send my federal tax return 2012   Also see Clothing and Household Items , earlier. Where do i send my federal tax return 2012 Cars, boats, and airplanes. Where do i send my federal tax return 2012   If you contribute a car, boat, or airplane to a charitable organization, you must determine its fair market value. Where do i send my federal tax return 2012 Boats. Where do i send my federal tax return 2012   Except for small, inexpensive boats, the valuation of boats should be based on an appraisal by a marine surveyor or appraiser because the physical condition is critical to the value. Where do i send my federal tax return 2012 Cars. Where do i send my federal tax return 2012   Certain commercial firms and trade organizations publish used car pricing guides, commonly called “blue books,” containing complete dealer sale prices or dealer average prices for recent model years. Where do i send my federal tax return 2012 The guides may be published monthly or seasonally, and for different regions of the country. Where do i send my federal tax return 2012 These guides also provide estimates for adjusting for unusual equipment, unusual mileage, and physical condition. Where do i send my federal tax return 2012 The prices are not “official” and these publications are not considered an appraisal of any specific donated property. Where do i send my federal tax return 2012 But they do provide clues for making an appraisal and suggest relative prices for comparison with current sales and offerings in your area. Where do i send my federal tax return 2012   These publications are sometimes available from public libraries, or from the loan officer at a bank, credit union, or finance company. Where do i send my federal tax return 2012 You can also find used car pricing information on the Internet. Where do i send my federal tax return 2012   To find the fair market value of a donated car, use the price listed in a used car guide for a private party sale, not the dealer retail value. Where do i send my federal tax return 2012 However, the fair market value may be less if the car has engine trouble, body damage, high mileage, or any type of excessive wear. Where do i send my federal tax return 2012 The fair market value of a donated car is the same as the price listed in a used car guide for a private party sale only if the guide lists a sales price for a car that is the same make, model, and year, sold in the same area, in the same condition, with the same or similar options or accessories, and with the same or similar warranties as the donated car. Where do i send my federal tax return 2012 Example. Where do i send my federal tax return 2012 You donate a used car in poor condition to a local high school for use by students studying car repair. Where do i send my federal tax return 2012 A used car guide shows the dealer retail value for this type of car in poor condition is $1,600. Where do i send my federal tax return 2012 However, the guide shows the price for a private party sale of the car is only $750. Where do i send my federal tax return 2012 The fair market value of the car is considered to be $750. Where do i send my federal tax return 2012 Large quantities. Where do i send my federal tax return 2012   If you contribute a large number of the same item, fair market value is the price at which comparable numbers of the item are being sold. Where do i send my federal tax return 2012 Example. Where do i send my federal tax return 2012 You purchase 500 bibles for $1,000. Where do i send my federal tax return 2012 The person who sells them to you says the retail value of these bibles is $3,000. Where do i send my federal tax return 2012 If you contribute the bibles to a qualified organization, you can claim a deduction only for the price at which similar numbers of the same bible are currently being sold. Where do i send my federal tax return 2012 Your charitable contribution is $1,000, unless you can show that similar numbers of that bible wer
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Where do i send my federal tax return 2012 5. Where do i send my federal tax return 2012   Taxes Table of Contents What's New Introduction Topics - This chapter discusses: Useful Items - You may want to see: When To Deduct Taxes Real Estate TaxesSeparate elections. Where do i send my federal tax return 2012 Making the election. Where do i send my federal tax return 2012 Form 3115. Where do i send my federal tax return 2012 Income TaxesAccrual of contested income taxes. Where do i send my federal tax return 2012 Employment Taxes Other TaxesAdditional Medicare Tax. Where do i send my federal tax return 2012 What's New Additional Medicare Tax. Where do i send my federal tax return 2012  Beginning in 2013, you must withhold a 0. Where do i send my federal tax return 2012 9% Additional Medicare Tax from wages you pay to an employee in excess of $200,000 in a calendar year. Where do i send my federal tax return 2012 Also, self-employed individuals may be required to pay Additional Medicare Tax on self-employment income. Where do i send my federal tax return 2012 See Employment Taxes , and Self-employment tax , later. Where do i send my federal tax return 2012 Introduction You can deduct various federal, state, local, and foreign taxes directly attributable to your trade or business as business expenses. Where do i send my federal tax return 2012 You cannot deduct federal income taxes, estate and gift taxes, or state inheritance, legacy, and succession taxes. Where do i send my federal tax return 2012 Topics - This chapter discusses: When to deduct taxes Real estate taxes Income taxes Employment taxes Other taxes Useful Items - You may want to see: Publication 15 (Circular E), Employer's Tax Guide 334 Tax Guide for Small Business 510 Excise Taxes 538 Accounting Periods and Methods 551 Basis of Assets Form (and Instructions) Sch A (Form 1040) Itemized Deductions Sch SE (Form 1040) Self-Employment Tax 3115 Application for Change in Accounting Method 8959 Additional Medicare Tax See chapter 12 for information about getting publications and forms. Where do i send my federal tax return 2012 When To Deduct Taxes Generally, you can only deduct taxes in the year you pay them. Where do i send my federal tax return 2012 This applies whether you use the cash method or an accrual method of accounting. Where do i send my federal tax return 2012 Under an accrual method, you can deduct a tax before you pay it if you meet the exception for recurring items discussed under Economic Performance in Publication 538. Where do i send my federal tax return 2012 You can also elect to ratably accrue real estate taxes as discussed later under Real Estate Taxes . Where do i send my federal tax return 2012 Limit on accrual of taxes. Where do i send my federal tax return 2012   A taxing jurisdiction can require the use of a date for accruing taxes that is earlier than the date it originally required. Where do i send my federal tax return 2012 However, if you use an accrual method, and can deduct the tax before you pay it, use the original accrual date for the year of change and all future years to determine when you can deduct the tax. Where do i send my federal tax return 2012 Example. Where do i send my federal tax return 2012 Your state imposes a tax on personal property used in a trade or business conducted in the state. Where do i send my federal tax return 2012 This tax is assessed and becomes a lien as of July 1 (accrual date). Where do i send my federal tax return 2012 In 2013, the state changed the assessment and lien dates from July 1, 2014, to December 31, 2013, for property tax year 2014. Where do i send my federal tax return 2012 Use the original accrual date (July 1, 2014) to determine when you can deduct the tax. Where do i send my federal tax return 2012 You must also use the July 1 accrual date for all future years to determine when you can deduct the tax. Where do i send my federal tax return 2012 Uniform capitalization rules. Where do i send my federal tax return 2012   Uniform capitalization rules apply to certain taxpayers who produce real property or tangible personal property for use in a trade or business or for sale to customers. Where do i send my federal tax return 2012 They also apply to certain taxpayers who acquire property for resale. Where do i send my federal tax return 2012 Under these rules, you either include certain costs in inventory or capitalize certain expenses related to the property, such as taxes. Where do i send my federal tax return 2012 For more information, see chapter 1. Where do i send my federal tax return 2012 Carrying charges. Where do i send my federal tax return 2012   Carrying charges include taxes you pay to carry or develop real estate or to carry, transport, or install personal property. Where do i send my federal tax return 2012 You can elect to capitalize carrying charges not subject to the uniform capitalization rules if they are otherwise deductible. Where do i send my federal tax return 2012 For more information, see chapter 7. Where do i send my federal tax return 2012 Refunds of taxes. Where do i send my federal tax return 2012   If you receive a refund for any taxes you deducted in an earlier year, include the refund in income to the extent the deduction reduced your federal income tax in the earlier year. Where do i send my federal tax return 2012 For more information, see Recovery of amount deducted (tax benefit rule) in chapter 1. Where do i send my federal tax return 2012    You must include in income any interest you receive on tax refunds. Where do i send my federal tax return 2012 Real Estate Taxes Deductible real estate taxes are any state, local, or foreign taxes on real estate levied for the general public welfare. Where do i send my federal tax return 2012 The taxing authority must base the taxes on the assessed value of the real estate and charge them uniformly against all property under its jurisdiction. Where do i send my federal tax return 2012 Deductible real estate taxes generally do not include taxes charged for local benefits and improvements that increase the value of the property. Where do i send my federal tax return 2012 See Taxes for local benefits , later. Where do i send my federal tax return 2012 If you use an accrual method, you generally cannot accrue real estate taxes until you pay them to the government authority. Where do i send my federal tax return 2012 However, you can elect to ratably accrue the taxes during the year. Where do i send my federal tax return 2012 See Electing to ratably accrue , later. Where do i send my federal tax return 2012 Taxes for local benefits. Where do i send my federal tax return 2012   Generally, you cannot deduct taxes charged for local benefits and improvements that tend to increase the value of your property. Where do i send my federal tax return 2012 These include assessments for streets, sidewalks, water mains, sewer lines, and public parking facilities. Where do i send my federal tax return 2012 You should increase the basis of your property by the amount of the assessment. Where do i send my federal tax return 2012   You can deduct taxes for these local benefits only if the taxes are for maintenance, repairs, or interest charges related to those benefits. Where do i send my federal tax return 2012 If part of the tax is for maintenance, repairs, or interest, you must be able to show how much of the tax is for these expenses to claim a deduction for that part of the tax. Where do i send my federal tax return 2012 Example. Where do i send my federal tax return 2012 To improve downtown commercial business, Waterfront City converted a downtown business area street into an enclosed pedestrian mall. Where do i send my federal tax return 2012 The city assessed the full cost of construction, financed with 10-year bonds, against the affected properties. Where do i send my federal tax return 2012 The city is paying the principal and interest with the annual payments made by the property owners. Where do i send my federal tax return 2012 The assessments for construction costs are not deductible as taxes or as business expenses, but are depreciable capital expenses. Where do i send my federal tax return 2012 The part of the payments used to pay the interest charges on the bonds is deductible as taxes. Where do i send my federal tax return 2012 Charges for services. Where do i send my federal tax return 2012   Water bills, sewerage, and other service charges assessed against your business property are not real estate taxes, but are deductible as business expenses. Where do i send my federal tax return 2012 Purchase or sale of real estate. Where do i send my federal tax return 2012   If real estate is sold, the real estate taxes must be allocated between the buyer and the seller. Where do i send my federal tax return 2012   The buyer and seller must allocate the real estate taxes according to the number of days in the real property tax year (the period to which the tax imposed relates) that each owned the property. Where do i send my federal tax return 2012 Treat the seller as paying the taxes up to but not including the date of sale. Where do i send my federal tax return 2012 Treat the buyer as paying the taxes beginning with the date of sale. Where do i send my federal tax return 2012 You can usually find this information on the settlement statement you received at closing. Where do i send my federal tax return 2012   If you (the seller) use an accrual method and have not elected to ratably accrue real estate taxes, you are considered to have accrued your part of the tax on the date you sell the property. Where do i send my federal tax return 2012 Example. Where do i send my federal tax return 2012 Alberto Verde, a calendar year accrual method taxpayer, owns real estate in Olmo County. Where do i send my federal tax return 2012 He has not elected to ratably accrue property taxes. Where do i send my federal tax return 2012 November 30 of each year is the assessment and lien date for the current real property tax year, which is the calendar year. Where do i send my federal tax return 2012 He sold the property on June 30, 2013. Where do i send my federal tax return 2012 Under his accounting method he would not be able to claim a deduction for the taxes because the sale occurred before November 30. Where do i send my federal tax return 2012 He is treated as having accrued his part of the tax, 181/366  (January 1–June 29), on June 30, and he can deduct it for 2013. Where do i send my federal tax return 2012 Electing to ratably accrue. Where do i send my federal tax return 2012   If you use an accrual method, you can elect to accrue real estate tax related to a definite period ratably over that period. Where do i send my federal tax return 2012 Example. Where do i send my federal tax return 2012 Juan Sanchez is a calendar year taxpayer who uses an accrual method. Where do i send my federal tax return 2012 His real estate taxes for the real property tax year, July 1, 2013, to June 30, 2014, are $1,200. Where do i send my federal tax return 2012 July 1 is the assessment and lien date. Where do i send my federal tax return 2012 If Juan elects to ratably accrue the taxes, $600 will accrue in 2013 ($1,200 × 6/12, July 1–December 31) and the balance will accrue in 2014. Where do i send my federal tax return 2012 Separate elections. Where do i send my federal tax return 2012   You can elect to ratably accrue the taxes for each separate trade or business and for nonbusiness activities if you account for them separately. Where do i send my federal tax return 2012 Once you elect to ratably accrue real estate taxes, you must use that method unless you get permission from the IRS to change. Where do i send my federal tax return 2012 See Form 3115 , later. Where do i send my federal tax return 2012 Making the election. Where do i send my federal tax return 2012   If you elect to ratably accrue the taxes for the first year in which you incur real estate taxes, attach a statement to your income tax return for that year. Where do i send my federal tax return 2012 The statement should show all the following items. Where do i send my federal tax return 2012 The trades or businesses to which the election applies and the accounting method or methods used. Where do i send my federal tax return 2012 The period to which the taxes relate. Where do i send my federal tax return 2012 The computation of the real estate tax deduction for that first year. Where do i send my federal tax return 2012   Generally, you must file your return by the due date (including extensions). Where do i send my federal tax return 2012 However, if you timely filed your return for the year without electing to ratably accrue, you can still make the election by filing an amended return within 6 months after the due date of the return (excluding extensions). Where do i send my federal tax return 2012 Attach the statement to the amended return and write “Filed pursuant to section 301. Where do i send my federal tax return 2012 9100-2” on the statement. Where do i send my federal tax return 2012 File the amended return at the same address where you filed the original return. Where do i send my federal tax return 2012 Form 3115. Where do i send my federal tax return 2012    If you elect to ratably accrue real estate taxes for a year after the first year in which you incur real estate taxes, or if you want to revoke your election to ratably accrue real estate taxes, file Form 3115. Where do i send my federal tax return 2012 For more information, including applicable time frames for filing, see the Instructions for Form 3115. Where do i send my federal tax return 2012 Note. Where do i send my federal tax return 2012 If you are filing an application for a change in accounting method filed after January 9, 2011, for a year of change ending after April 29, 2010, see Revenue Procedure 2011-14, 2011-4 I. Where do i send my federal tax return 2012 R. Where do i send my federal tax return 2012 B. Where do i send my federal tax return 2012 330, as modified and clarified by Revenue Procedure 2012-19, 2012-14 I. Where do i send my federal tax return 2012 R. Where do i send my federal tax return 2012 B. Where do i send my federal tax return 2012 689, and Revenue Procedure 2012-20, 2012-14 I. Where do i send my federal tax return 2012 R. Where do i send my federal tax return 2012 B. Where do i send my federal tax return 2012 700, or any successor. Where do i send my federal tax return 2012 Revenue Procedure 2011-14 is available at  www. Where do i send my federal tax return 2012 irs. Where do i send my federal tax return 2012 gov/irb/2011-04IRB/ar08. Where do i send my federal tax return 2012 html. Where do i send my federal tax return 2012 Income Taxes This section discusses federal, state, local, and foreign income taxes. Where do i send my federal tax return 2012 Federal income taxes. Where do i send my federal tax return 2012   You cannot deduct federal income taxes. Where do i send my federal tax return 2012 State and local income taxes. Where do i send my federal tax return 2012   A corporation or partnership can deduct state and local income taxes imposed on the corporation or partnership as business expenses. Where do i send my federal tax return 2012 An individual can deduct state and local income taxes only as an itemized deduction on Schedule A (Form 1040). Where do i send my federal tax return 2012   However, an individual can deduct a state tax on gross income (as distinguished from net income) directly attributable to a trade or business as a business expense. Where do i send my federal tax return 2012 Accrual of contested income taxes. Where do i send my federal tax return 2012   If you use an accrual method, and you contest a state or local income tax liability, you must accrue and deduct any contested amount in the tax year in which the liability is finally determined. Where do i send my federal tax return 2012   If additional state or local income taxes for a prior year are assessed in a later year, you can deduct the taxes in the year in which they were originally imposed (the prior year) if the tax liability is not contested. Where do i send my federal tax return 2012 You cannot deduct them in the year in which the liability is finally determined. Where do i send my federal tax return 2012    The filing of an income tax return is not considered a contest and, in the absence of an overt act of protest, you can deduct the tax in the prior year. Where do i send my federal tax return 2012 Also, you can deduct any additional taxes in the prior year if you do not show some affirmative evidence of denial of the liability. Where do i send my federal tax return 2012   However, if you consistently deduct additional assessments in the year they are paid or finally determined (including those for which there was no contest), you must continue to do so. Where do i send my federal tax return 2012 You cannot take a deduction in the earlier year unless you receive permission to change your method of accounting. Where do i send my federal tax return 2012 For more information on accounting methods, see When Can I Deduct an Expense in chapter 1. Where do i send my federal tax return 2012 Foreign income taxes. Where do i send my federal tax return 2012   Generally, you can take either a deduction or a credit for income taxes imposed on you by a foreign country or a U. Where do i send my federal tax return 2012 S. Where do i send my federal tax return 2012 possession. Where do i send my federal tax return 2012 However, an individual cannot take a deduction or credit for foreign income taxes paid on income that is exempt from U. Where do i send my federal tax return 2012 S. Where do i send my federal tax return 2012 tax under the foreign earned income exclusion or the foreign housing exclusion. Where do i send my federal tax return 2012 For information on these exclusions, see Publication 54, Tax Guide for U. Where do i send my federal tax return 2012 S. Where do i send my federal tax return 2012 Citizens and Resident Aliens Abroad. Where do i send my federal tax return 2012 For information on the foreign tax credit, see Publication 514, Foreign Tax Credit for Individuals. Where do i send my federal tax return 2012 Employment Taxes If you have employees, you must withhold various taxes from your employees' pay. Where do i send my federal tax return 2012 Most employers must withhold their employees' share of social security, Medicare taxes, and Additional Medicare Tax (if applicable) along with state and federal income taxes. Where do i send my federal tax return 2012 You may also need to pay certain employment taxes from your own funds. Where do i send my federal tax return 2012 These include your share of social security and Medicare taxes as an employer, along with unemployment taxes. Where do i send my federal tax return 2012 Note. Where do i send my federal tax return 2012 Additional Medicare Tax is only imposed on the employee. Where do i send my federal tax return 2012 There is no employer share of Additional Medicare Tax. Where do i send my federal tax return 2012 Your deduction for wages paid is not reduced by the social security and Medicare taxes, Additional Medicare Tax, and income taxes you withhold from your employees. Where do i send my federal tax return 2012 You can deduct the employment taxes you must pay from your own funds as taxes. Where do i send my federal tax return 2012 Example. Where do i send my federal tax return 2012 You pay your employee $18,000 a year. Where do i send my federal tax return 2012 However, after you withhold various taxes, your employee receives $14,500. Where do i send my federal tax return 2012 You also pay an additional $1,500 in employment taxes. Where do i send my federal tax return 2012 You should deduct the full $18,000 as wages. Where do i send my federal tax return 2012 You can deduct the $1,500 you pay from your own funds as taxes. Where do i send my federal tax return 2012 For more information on employment taxes, see Publication 15 (Circular E). Where do i send my federal tax return 2012 Unemployment fund taxes. Where do i send my federal tax return 2012   As an employer, you may have to make payments to a state unemployment compensation fund or to a state disability benefit fund. Where do i send my federal tax return 2012 Deduct these payments as taxes. Where do i send my federal tax return 2012 Other Taxes The following are other taxes you can deduct if you incur them in the ordinary course of your trade or business. Where do i send my federal tax return 2012 Excise taxes. Where do i send my federal tax return 2012   Generally, you can deduct as a business expense all excise taxes that are ordinary and necessary expenses of carrying on your trade or business. Where do i send my federal tax return 2012 However, see Fuel taxes , later. Where do i send my federal tax return 2012   For more information on excise taxes, see Publication 510. Where do i send my federal tax return 2012 Franchise taxes. Where do i send my federal tax return 2012   You can deduct corporate franchise taxes as a business expense. Where do i send my federal tax return 2012 Fuel taxes. Where do i send my federal tax return 2012   Generally, taxes on gasoline, diesel fuel, and other motor fuels that you use in your business are included as part of the cost of the fuel. Where do i send my federal tax return 2012 Do not deduct these taxes as a separate item. Where do i send my federal tax return 2012   You may be entitled to a credit or refund for federal excise tax you paid on fuels used for certain purposes. Where do i send my federal tax return 2012 For more information, see Publication 510. Where do i send my federal tax return 2012 Occupational taxes. Where do i send my federal tax return 2012   You can deduct as a business expense an occupational tax charged at a flat rate by a locality for the privilege of working or conducting a business in the locality. Where do i send my federal tax return 2012 Personal property tax. Where do i send my federal tax return 2012   You can deduct any tax imposed by a state or local government on personal property used in your trade or business. Where do i send my federal tax return 2012 Sales tax. Where do i send my federal tax return 2012   Treat any sales tax you pay on a service or on the purchase or use of property as part of the cost of the service or property. Where do i send my federal tax return 2012 If the service or the cost or use of the property is a deductible business expense, you can deduct the tax as part of that service or cost. Where do i send my federal tax return 2012 If the property is merchandise bought for resale, the sales tax is part of the cost of the merchandise. Where do i send my federal tax return 2012 If the property is depreciable, add the sales tax to the basis for depreciation. Where do i send my federal tax return 2012 For more information on basis, see Publication 551. Where do i send my federal tax return 2012    Do not deduct state and local sales taxes imposed on the buyer that you must collect and pay over to the state or local government. Where do i send my federal tax return 2012 Also, do not include these taxes in gross receipts or sales. Where do i send my federal tax return 2012 Self-employment tax. Where do i send my federal tax return 2012   You can deduct part of your self-employment tax as a business expense in figuring your adjusted gross income. Where do i send my federal tax return 2012 This deduction only affects your income tax. Where do i send my federal tax return 2012 It does not affect your net earnings from self-employment or your self-employment tax. Where do i send my federal tax return 2012   To deduct the tax, enter on Form 1040, line 27, the amount shown on the Deduction for one-half of self-employment tax line of Schedule SE (Form 1040). Where do i send my federal tax return 2012   For more information on self-employment tax, see Publication 334. Where do i send my federal tax return 2012 Additional Medicare Tax. Where do i send my federal tax return 2012   Beginning in 2013, you may be required to pay Additional Medicare Tax on self-employment income. Where do i send my federal tax return 2012 See Form 8959 and the Instructions for Form 8959 for more information on the Additional Medicare Tax. Where do i send my federal tax return 2012 Prev  Up  Next   Home   More Online Publications