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When Is The Last Day To File Taxes 2014

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When Is The Last Day To File Taxes 2014

When is the last day to file taxes 2014 Publication 17(SP) - Introductory Material Table of Contents Qué Hay de Nuevo Recordatorios IntroductionIconos. When is the last day to file taxes 2014 Para pedir formularios y publicaciones. When is the last day to file taxes 2014 Preguntas sobre los impuestos. When is the last day to file taxes 2014 Todo material en esta publicación puede ser reimpreso gratuitamente. When is the last day to file taxes 2014 Una referencia a El Impuesto Federal sobre los Ingresos (2013) sería apropiada. When is the last day to file taxes 2014 Las explicaciones y ejemplos en esta publicación representan la interpretación del Servicio de Impuestos Internos (IRS, por sus siglas en inglés) con respecto a: Leyes tributarias promulgadas por el Congreso de los Estados Unidos, Reglamentos del Departamento del Tesoro de los Estados Unidos y Decisiones de los tribunales. When is the last day to file taxes 2014 Sin embargo, la información provista no abarca cada situación y no se presenta con la intención de reemplazar la ley o cambiar su significado. When is the last day to file taxes 2014 Esta publicación abarca ciertos temas sobre los cuales un tribunal puede haber dictado un fallo más favorable para los contribuyentes que la interpretación hecha por el IRS. When is the last day to file taxes 2014 Hasta que estas interpretaciones divergentes sean resueltas por fallos o decretos de un tribunal superior o de alguna otra manera, esta publicación continuará presentando las interpretaciones hechas por el IRS. When is the last day to file taxes 2014 Todos los contribuyentes tienen derechos importantes cuando tratan con el IRS. When is the last day to file taxes 2014 Estos derechos están descritos en la sección titulada Derechos del Contribuyente , al final de esta publicación. When is the last day to file taxes 2014 Qué Hay de Nuevo Esta sección resume ciertos cambios tributarios importantes que entraron en vigor en el año 2013. When is the last day to file taxes 2014 La mayor parte de estos cambios se abordan en más detalle en esta publicación. When is the last day to file taxes 2014 Acontecimientos futuros. When is the last day to file taxes 2014  Si desea obtener la información más reciente sobre temas de ley tributaria que se explican en esta publicación, incluyendo toda información sobre legislación tributaria, acceda a www. When is the last day to file taxes 2014 irs. When is the last day to file taxes 2014 gov/pub17sp. When is the last day to file taxes 2014 Impuesto Adicional del Medicare. When is the last day to file taxes 2014  Comenzando en el año 2013, le corresponderá un Impuesto Adicional del Medicare de 0. When is the last day to file taxes 2014 9% sobre los salarios, la compensación por jubilación ferroviaria (RRTA, por sus siglas en inglés) y el ingreso sobre el trabajo por cuenta propia que están sujetos al impuesto al Medicare. When is the last day to file taxes 2014 El impuesto corresponde si estos ingresos son mayores que: $125,000, si es casado que presenta una declaración por separado, $250,000, si es casado que presenta una declaración conjunta o $200,000, si presenta la declaración utilizando cualquier otro estado civil para efectos de la declaración. When is the last day to file taxes 2014 Si desea más información, vea el Formulario 8959 y sus Instrucciones, disponibles en inglés. When is the last day to file taxes 2014 Impuesto sobre los ingresos netos de inversión. When is the last day to file taxes 2014  Comenzando en el año 2013, usted podría estar sujeto al impuesto sobre los ingresos netos de inversión (NIIT, por sus siglas en inglés). When is the last day to file taxes 2014 Este impuesto es el 3. When is the last day to file taxes 2014 8% de la cantidad menor entre (a) su ingreso neto de inversión o (b) la cantidad en exceso de su ingreso bruto ajustado modificado sobre: $125,000, si es casado que presenta una declaración por separado, $250,000, si es casado que presenta una declaración conjunta o si es viudo calificado o $200,000, si presenta la declaración utilizando cualquier otro estado civil para efectos de la declaración. When is the last day to file taxes 2014 Si desea más información, vea el Formulario 8960 y sus Instrucciones, disponibles en inglés. When is the last day to file taxes 2014 Cambio en las tasas tributarias. When is the last day to file taxes 2014  La tasa tributaria mayor es de 39. When is the last day to file taxes 2014 6%. When is the last day to file taxes 2014 Si desea más información, vea la Hoja de Trabajo para el Cálculo del Impuesto del Año 2013 o las Tasas Impositivas de 2013 , las cuales se encuentran al final de esta publicación. When is the last day to file taxes 2014 Tasa tributaria sobre las ganancias netas de capital y dividendos calificados. When is the last day to file taxes 2014  La tasa tributaria máxima de 15% sobre las ganancias netas de capital y los dividendos calificados ha aumentado a 20% para algunos contribuyentes. When is the last day to file taxes 2014 Vea el capítulo 16 . When is the last day to file taxes 2014 Gastos médicos y dentales. When is the last day to file taxes 2014  Usted puede deducir solamente la parte de sus gastos médicos y dentales que sea mayor que el 10% de su ingreso bruto ajustado (7. When is the last day to file taxes 2014 5% si usted o su cónyuge tiene 65 años de edad o más). When is the last day to file taxes 2014 Vea el capítulo 21 . When is the last day to file taxes 2014 Aumento de la cantidad de la exención personal para determinados contribuyentes. When is the last day to file taxes 2014  La exención personal que le corresponde a usted ha aumentado a $3,900. When is the last day to file taxes 2014 Pero, esta cantidad se reduce si su ingreso bruto ajustado es mayor que: $150,000, si es casado que presenta una declaración por separado, $250,000, si es soltero, $275,000, si es cabeza de familia o $300,000, si presenta la declaración utilizando cualquier otro estado civil para efectos de la declaración. When is the last day to file taxes 2014 Vea el capítulo 3 . When is the last day to file taxes 2014 Límite sobre las deducciones detalladas. When is the last day to file taxes 2014  Usted puede que no tenga derecho de deducir todas sus deducciones detalladas si su ingreso bruto ajustado es mayor que: $150,000, si es casado que presenta una declaración por separado, $250,000, si es soltero, $275,000, si es cabeza de familia o $300,000, si presenta la declaración utilizando cualquier otro estado civil para efectos de la declaración. When is the last day to file taxes 2014 Vea el capítulo 29 . When is the last day to file taxes 2014 Matrimonio entre el mismo sexo. When is the last day to file taxes 2014  Si tiene un cónyuge de su mismo sexo con quien usted se casó en un estado (o jurisdicción o país extranjero) que reconoce el matrimonio entre personas del mismo sexo, usted y su cónyuge tienen que utilizar el estado civil para efectos de la declaración de casados que presentan una declaración conjunta o casado que presenta la declaración por separado en su declaración del año 2013. When is the last day to file taxes 2014 Utilice uno de estos estados civiles para efectos de la declaración aunque usted y su cónyuge en la actualidad vivan en un estado (o jurisdicción o país extranjero) en donde no se reconozca el matrimonio entre personas del mismo sexo. When is the last day to file taxes 2014 Vea el capítulo 2 . When is the last day to file taxes 2014 Si reúne ciertos requisitos, quizás podría presentar declaraciones enmendadas para cambiar su estado civil para efectos de la declaración para algunos años anteriores. When is the last day to file taxes 2014 Si desea saber más detalles sobre declaraciones enmendadas, vea el capítulo 1 . When is the last day to file taxes 2014 Cuenta flexible de ahorros para gastos médicos (FSA, por sus siglas en inglés). When is the last day to file taxes 2014  Comenzando con los años del plan después de 2012, usted no puede hacer aportaciones mediante la reducción de salarios mayores de $2,500 a cuentas flexibles de ahorros para gastos médicos (FSA, por sus siglas en inglés). When is the last day to file taxes 2014 Vea el capítulo 5 . When is the last day to file taxes 2014 Créditos tributarios que vencen. When is the last day to file taxes 2014  El crédito por vehículo eléctrico enchufable y la parte reembolsable del crédito del impuesto mínimo de años anteriores ha vencido. When is the last day to file taxes 2014 Usted no puede reclamar ninguno de éstos en su declaración del año 2013. When is the last day to file taxes 2014 Vea el capítulo 37 . When is the last day to file taxes 2014 Esquemas de inversión de tipo Ponzi. When is the last day to file taxes 2014  Hay nuevas reglas sobre cómo reclamar una deducción en el Formulario 4684, en inglés, debido a una pérdida por robo por un esquema de inversión de tipo Ponzi. When is the last day to file taxes 2014 Vea el capítulo 25 . When is the last day to file taxes 2014 Método simplificado para la deducción por oficina en el hogar. When is the last day to file taxes 2014  Si usted puede tomar una deducción por tener una oficina en su hogar, quizás pueda utilizar un método simplificado para calcular dicha deducción. When is the last day to file taxes 2014 Vea la Publicación 587, disponible en inglés. When is the last day to file taxes 2014 Tarifas estándar por milla. When is the last day to file taxes 2014  Para 2013, la tarifa estándar por milla permitida por el costo de operar su automóvil para uso comercial ha aumentado a 56½ centavos por milla. When is the last day to file taxes 2014 Vea el capítulo 26 . When is the last day to file taxes 2014 Para 2013, la tarifa estándar por milla permitida por el costo de operar su automóvil por razones médicas ha aumentado a 24 centavos por milla. When is the last day to file taxes 2014 Vea el capítulo 21 . When is the last day to file taxes 2014 Para 2013, la tarifa estándar por milla permitida por el costo de operar su automóvil para determinar los gastos de mudanza ha aumentado a 24 centavos por milla. When is the last day to file taxes 2014 Vea la Publicación 521, Moving Expenses (Gastos de mudanza), en inglés. When is the last day to file taxes 2014 Recordatorios A continuación aparecen recordatorios importantes y otros asuntos que le podrían ayudar a presentar su declaración de impuestos del año 2013. When is the last day to file taxes 2014 Muchos de estos asuntos se explican más adelante en esta publicación. When is the last day to file taxes 2014 Anote su número de Seguro Social (SSN, por sus siglas en inglés) en la declaración. When is the last day to file taxes 2014  Anote su número de Seguro Social (SSN, por sus siglas en inglés) en el espacio correspondiente de la declaración de impuestos. When is the last day to file taxes 2014 Si presentó una declaración conjunta de impuestos en el año 2012 y presenta una declaración conjunta en el año 2013 con el mismo cónyuge, escriba los nombres y números de Seguro Social en el mismo orden en que lo hizo en el año 2012. When is the last day to file taxes 2014 Vea el capítulo 1 . When is the last day to file taxes 2014 Proteja su documentación tributaria contra el robo de identidad. When is the last day to file taxes 2014  El robo de identidad ocurre cuando otra persona usa la información personal de usted sin su autorización para cometer fraude u otros delitos. When is the last day to file taxes 2014 Dicha información personal podría ser su nombre, número de Seguro Social (SSN, por sus siglas en inglés) u otra información de identificación. When is the last day to file taxes 2014 Un ladrón de identidad puede usar su SSN para obtener un empleo o puede presentar una declaración de impuestos usando su SSN robado para recibir un reembolso. When is the last day to file taxes 2014 Si desea más información sobre el robo de identidad e información sobre cómo reducir su riesgo al robo de identidad, vea el capítulo 1 . When is the last day to file taxes 2014 Números de identificación del contribuyente. When is the last day to file taxes 2014  Tiene que proveer el número de identificación del contribuyente de cada persona por la cual reclama ciertos beneficios tributarios. When is the last day to file taxes 2014 Este requisito se aplica aun en el caso en que la persona haya nacido en el año 2013. When is the last day to file taxes 2014 Por lo general, este número es el número de Seguro Social de la persona. When is the last day to file taxes 2014 Vea el capítulo 1 . When is the last day to file taxes 2014 Ingreso de fuentes en el extranjero. When is the last day to file taxes 2014  Si es ciudadano de los Estados Unidos con ingresos provenientes de fuentes en el extranjero (ingresos del extranjero), tiene que declarar todos estos ingresos en su declaración de impuestos, a menos que estén exentos conforme a las leyes estadounidenses. When is the last day to file taxes 2014 Esto es cierto tanto si vive dentro como fuera de los Estados Unidos e independientemente de si recibe o no un Formulario W-2 ó 1099 del pagador extranjero. When is the last day to file taxes 2014 Esto corresponde al ingreso del trabajo (como salarios y propinas) y también al ingreso no derivado del trabajo (como intereses, dividendos, ganancias de capital, pensiones, alquileres y regalías). When is the last day to file taxes 2014 Si reside fuera de los Estados Unidos, es posible que pueda excluir la totalidad o parte de su ingreso del trabajo procedente de fuentes en el extranjero. When is the last day to file taxes 2014 Para más detalles, vea la Publicación 54, Tax Guide for U. When is the last day to file taxes 2014 S. When is the last day to file taxes 2014 Citizens and Resident Aliens Abroad (Guía tributaria para ciudadanos y residentes estadounidenses en el extranjero), en inglés. When is the last day to file taxes 2014 Activos financieros extranjeros. When is the last day to file taxes 2014  Si tuvo activos financieros extranjeros en el 2013, es posible que tenga que presentar el nuevo Formulario 8938 con su declaración. When is the last day to file taxes 2014 Vea www. When is the last day to file taxes 2014 IRS. When is the last day to file taxes 2014 gov/form8938, en inglés, para más detalles. When is the last day to file taxes 2014 Prórroga automática de 6 meses para presentar la declaración de impuestos. When is the last day to file taxes 2014  Puede usar el Formulario 4868(SP), Solicitud de Prórroga Automática para Presentar la Declaración del Impuesto sobre el Ingreso Personal de los Estados Unidos (o el Formulario 4868, en inglés), para obtener una prórroga automática de 6 meses para presentar su declaración de impuestos. When is the last day to file taxes 2014 Vea el capítulo 1 . When is the last day to file taxes 2014 Incluya su número de teléfono en la declaración. When is the last day to file taxes 2014  Para resolver rápidamente cualquier pregunta que necesitemos hacerle para tramitar su declaración, nos gustaría poder llamarlo. When is the last day to file taxes 2014 Anote el número de teléfono donde podamos llamarlo durante el día, al lado del espacio donde firma la declaración de impuestos y donde aparece su ocupación. When is the last day to file taxes 2014 Si usted presenta una declaración conjunta, puede anotar el número de teléfono suyo o el de su cónyuge. When is the last day to file taxes 2014 Pago de los impuestos. When is the last day to file taxes 2014   Puede pagar sus impuestos a través de la Internet, a través del teléfono o por medio de cheque o giro. When is the last day to file taxes 2014 Puede efectuar una transferencia directa de su cuenta bancaria o utilizar una tarjeta de crédito o débito. When is the last day to file taxes 2014 Si presenta su declaración electrónicamente (por medio de e-file), puede programar un pago electrónico. When is the last day to file taxes 2014 Vea el capítulo 1 . When is the last day to file taxes 2014 Maneras más rápidas de presentar su declaración. When is the last day to file taxes 2014  El IRS ofrece maneras rápidas y fiables de presentar la información tributaria sin tener que presentar una declaración en papel. When is the last day to file taxes 2014 Puede usar el sistema electrónico e-file del IRS para presentar su declaración de impuestos. When is the last day to file taxes 2014 Vea el capítulo 1 . When is the last day to file taxes 2014 Presentación electrónica gratuita de la declaración. When is the last day to file taxes 2014  Usted quizás pueda presentar su declaración de impuestos del año 2013 por Internet sin pagar cargo alguno. When is the last day to file taxes 2014 Vea el capítulo 1 . When is the last day to file taxes 2014 Cambio de dirección. When is the last day to file taxes 2014  Si cambia de dirección, debe notificarle al IRS. When is the last day to file taxes 2014 Vea el tema titulado Cambio de Dirección , en el capítulo 1. When is the last day to file taxes 2014 Reembolsos de una declaración presentada fuera de plazo. When is the last day to file taxes 2014  Si a usted se le debe un reembolso pero no presentó una declaración, por lo general tendrá que presentar su declaración dentro de 3 años a partir de la fecha en que la declaración venció (incluidas prórrogas) para obtener ese reembolso. When is the last day to file taxes 2014 Vea el capítulo 1 . When is the last day to file taxes 2014 Declaraciones de impuestos frívolas. When is the last day to file taxes 2014  El IRS ha publicado una lista de posturas identificadas como frívolas. When is the last day to file taxes 2014 La multa por presentar una declaración de impuestos frívola es de $5,000. When is the last day to file taxes 2014 Vea el capítulo 1 . When is the last day to file taxes 2014 Reclamación errónea de reembolso o crédito. When is the last day to file taxes 2014  Quizás tenga que pagar una multa si reclama erróneamente un reembolso o crédito. When is the last day to file taxes 2014 Vea el capítulo 1 . When is the last day to file taxes 2014 Información sobre la Ley de Confidencialidad de Información y la Ley de Reducción de Trámites. When is the last day to file taxes 2014   La IRS Restructuring and Reform Act of 1998 (Ley de Reestructuración y Reforma del Servicio de Impuestos Internos de 1998), la Privacy Act of 1974 (Ley de Confidencialidad de Información de 1974) y la Paperwork Reduction Act of 1980 (Ley de Reducción de Trámites de 1980) requieren que, cuando le solicitemos información, le informemos primero sobre cuál es nuestro derecho legal para solicitar esa información, por qué la estamos solicitando, cómo se usará la información, qué podría suceder si no la recibimos y si su respuesta es voluntaria, necesaria para obtener un beneficio u obligatoria conforme a la ley. When is the last day to file taxes 2014 Una explicación completa sobre este tema puede encontrarse en las instrucciones de los formularios. When is the last day to file taxes 2014 Servicio a los contribuyentes. When is the last day to file taxes 2014  Puede hacer una cita para recibir ayuda en persona en el Centro de Ayuda al Contribuyente más conveniente en el día laborable que más le convenga. When is the last day to file taxes 2014 Vea el tema titulado Cómo Obtener Ayuda con los Impuestos , al final de esta publicación. When is the last day to file taxes 2014 Mandato para preparadores de impuestos sobre el sistema e-file. When is the last day to file taxes 2014  La mayoría de los preparadores de impuestos remunerados que preparan y presentan declaraciones tienen que presentar electrónicamente por medio del sistema e-file. When is the last day to file taxes 2014 Puede ser que su preparador le comunique sobre este requisito y las opciones que están a disposición suya. When is the last day to file taxes 2014 Inspector General del Tesoro para la Administración Tributaria. When is the last day to file taxes 2014   Si desea denunciar confidencialmente la mala conducta, ineficacia, el fraude o abuso cometido por un empleado del IRS, puede llamar al 1-800-366-4484 (1-800-877-8339 para personas sordas, con limitación auditiva o que tienen impedimentos del habla, y que usen equipo TTY/TDD). When is the last day to file taxes 2014 Puede mantenerse anónimo. When is the last day to file taxes 2014 Fotografías de niños desaparecidos. When is the last day to file taxes 2014  El IRS se enorgullece en colaborar con el National Center for Missing and Exploited Children (Centro Nacional de Búsqueda de Niños Desaparecidos y Explotados). When is the last day to file taxes 2014 Las fotografías de niños desaparecidos que han sido seleccionadas por el Centro pueden aparacer en esta publicación en páginas que de otra manera estarían en blanco. When is the last day to file taxes 2014 Usted puede ayudar a que estos niños regresen a sus hogares mirando sus fotografías y llamando al número gratuito 1-800-THE-LOST (1-800-843-5678) si reconoce a un niño. When is the last day to file taxes 2014 Introduction Esta publicación abarca las reglas generales para la presentación de una declaración federal de impuestos sobre el ingreso. When is the last day to file taxes 2014 La publicación complementa la información contenida en las instrucciones para el formulario de impuestos. When is the last day to file taxes 2014 Igualmente explica las leyes tributarias para asegurar que usted pague sólo los impuestos que adeuda y nada más. When is the last day to file taxes 2014 Cómo está organizada esta publicación. When is the last day to file taxes 2014   Esta publicación sigue de cerca el Formulario 1040, U. When is the last day to file taxes 2014 S. When is the last day to file taxes 2014 Individual Income Tax Return (Declaración de impuestos de los Estados Unidos sobre los ingresos personales), disponible en inglés. When is the last day to file taxes 2014 Está dividida en seis partes que abarcan distintas secciones del Formulario 1040. When is the last day to file taxes 2014 Cada parte está subdividida en capítulos que normalmente explican una línea del formulario. When is the last day to file taxes 2014 No se preocupe si presenta el Formulario 1040A o el Formulario 1040EZ. When is the last day to file taxes 2014 Todo lo que está incluido en una línea de cualquiera de ambos formularios se incluye también en el Formulario 1040. When is the last day to file taxes 2014   La tabla de contenido que aparece al comienzo de esta publicación y el índice que aparece al final le servirán de utilidad para encontrar la información que necesite. When is the last day to file taxes 2014 Qué se incluye en esta publicación. When is the last day to file taxes 2014   Esta publicación comienza con las reglas para la presentación de una declaración de impuestos. When is the last day to file taxes 2014 La publicación explica: Quién tiene que presentar una declaración, Qué formulario se debe utilizar para declarar los impuestos, Cuándo es la fecha de vencimiento de la declaración, Cómo presentar su declaración usando el sistema electrónico e-file y Otra información general. When is the last day to file taxes 2014 Esta publicación le ayudará a identificar el estado civil para propósitos de la declaración al cual tiene derecho. When is the last day to file taxes 2014 Del mismo modo, le ayudará a determinar si puede reclamar algún dependiente y si los ingresos que recibe están sujetos a impuestos. When is the last day to file taxes 2014 La publicación también explica la deducción estándar, las clases de gastos que quizás pueda deducir y varios créditos que quizás pueda tomar para reducir sus impuestos. When is the last day to file taxes 2014   A lo largo de la publicación, hay ejemplos que muestran cómo se aplican las leyes tributarias en situaciones típicas. When is the last day to file taxes 2014 También hay organigramas y tablas en la publicación que presentan información tributaria en una manera fácil de entender. When is the last day to file taxes 2014   Muchos de los temas que se tratan en esta publicación son explicados en mayor detalle en otras publicaciones del IRS. When is the last day to file taxes 2014 Se hace referencia a dichas publicaciones y se indica si están disponibles en español o en inglés. When is the last day to file taxes 2014 Iconos. When is the last day to file taxes 2014   En la publicación se utilizan pequeños símbolos gráficos, o sea iconos, para llamar su atención a información especial. When is the last day to file taxes 2014 Vea la Tabla 1 , más adelante, para una explicación de cada icono usado en esta publicación. When is the last day to file taxes 2014 Qué no se incluye en esta publicación. When is the last day to file taxes 2014   Algunos materiales que le podrían ser útiles no se incluyen en esta publicación pero pueden encontrarse en el folleto de instrucciones del formulario de impuestos. When is the last day to file taxes 2014 Esto incluye listas que identifican lo siguiente: Dónde declarar ciertas partidas que aparecen en documentos informativos y Temas tributarios grabados (temas TeleTax). When is the last day to file taxes 2014   Si opera su propio negocio o si tiene otros ingresos del trabajo por cuenta propia, tales como del cuidado de niños o la venta de artesanía, vea las siguientes publicaciones para más información: Publicación 334, Tax Guide for Small Business (For Individuals Who Use Schedule C or C-EZ) (Guía tributaria para pequeños negocios (para personas que usen el Anexo C o C-EZ)), en inglés. When is the last day to file taxes 2014 Publicación 535, Business Expenses (Gastos de negocios), en inglés. When is the last day to file taxes 2014 Publicación 587, Business Use of Your Home (Including Use by Daycare Providers) (Uso comercial de su vivienda (incluyendo el uso por proveedores del cuidado de niños)), en inglés. When is the last day to file taxes 2014 Ayuda del IRS. When is the last day to file taxes 2014   Existen muchas maneras en que puede obtener ayuda del IRS. When is the last day to file taxes 2014 Éstas se explican bajo el tema titulado Cómo Obtener Ayuda con los Impuestos , al final de esta publicación. When is the last day to file taxes 2014 Comentarios y sugerencias. When is the last day to file taxes 2014   Agradeceremos sus comentarios acerca de esta publicación, así como sus sugerencias para ediciones futuras. When is the last day to file taxes 2014   Puede enviar sus comentarios a la dirección siguiente:  Internal Revenue Service Tax Forms and Publications Division 1111 Constitution Ave. When is the last day to file taxes 2014 NW, IR-6526 Washington, DC 20224   Contestamos muchas cartas por teléfono. When is the last day to file taxes 2014 Por lo tanto, sería útil que incluyera en la correspondencia su número de teléfono, con el código de área, en donde nos podamos comunicar con usted durante el día. When is the last day to file taxes 2014   Usted nos puede enviar comentarios desde la página web www. When is the last day to file taxes 2014 irs. When is the last day to file taxes 2014 gov/formspubs, en inglés, seleccionando Comment on Tax Forms and Publications (Enviar comentarios sobre los formularios y publicaciones de impuestos), bajo la sección More Information (Información adicional). When is the last day to file taxes 2014   Aunque no le podemos contestar individualmente, agradecemos sus comentarios y sugerencias y los tendremos en cuenta para ediciones futuras de nuestros productos tributarios. When is the last day to file taxes 2014 Para pedir formularios y publicaciones. When is the last day to file taxes 2014   Visite www. When is the last day to file taxes 2014 irs. When is the last day to file taxes 2014 gov/formspubs para descargar formularios y publicaciones, llame al 1-800-829-3676 para pedir formularios y publicaciones o escriba a la dirección indicada a continuación y recibirá una respuesta dentro de 10 días después de que nosotros recibamos su solicitud. When is the last day to file taxes 2014  Internal Revenue Service 1201 N. When is the last day to file taxes 2014 Mitsubishi Motorway Bloomington, IL 61705-6613 Preguntas sobre los impuestos. When is the last day to file taxes 2014   Si tiene una pregunta sobre los impuestos, verifique la información disponible en IRS. When is the last day to file taxes 2014 gov/espanol o llame al 1-800-829-1040. When is the last day to file taxes 2014 No podemos contestar preguntas sobre impuestos enviadas a ninguna de las dos direcciones indicadas anteriormente. When is the last day to file taxes 2014 Misión del IRS. When is the last day to file taxes 2014   Proveerles a los contribuyentes de los Estados Unidos de América un servicio de la más alta calidad al ayudarles a entender y cumplir con sus responsabilidades tributarias y, a la vez, hacer cumplir las leyes tributarias de manera íntegra y justa para todos. When is the last day to file taxes 2014 Tabla 1. When is the last day to file taxes 2014 Leyenda de los Iconos Icono Explicación Partidas que podrían causarle problemas en particular o una alerta sobre legislaciones pendientes que podrían entrar en vigor después de que se imprima esta publicación. When is the last day to file taxes 2014 Un sitio en Internet o una dirección de correo electrónico. When is the last day to file taxes 2014 Una dirección que podría necesitar. When is the last day to file taxes 2014 Documentos que debería mantener en su documentación personal. When is the last day to file taxes 2014 Cálculos que necesite realizar o una hoja de trabajo que pueda tener que completar y conservar para sus archivos. When is the last day to file taxes 2014 Un número de teléfono importante. When is the last day to file taxes 2014 Información que podría necesitar. When is the last day to file taxes 2014 Prev  Up  Next   Home   More Online Publications
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The When Is The Last Day To File Taxes 2014

When is the last day to file taxes 2014 5. When is the last day to file taxes 2014   Business Income Table of Contents Introduction Kinds of IncomeBartering for Property or Services Real Estate Rents Personal Property Rents Interest and Dividend Income Canceled Debt Other Income Items That Are Not IncomeAmount you can exclude. When is the last day to file taxes 2014 Short-term lease. When is the last day to file taxes 2014 Retail space. When is the last day to file taxes 2014 Qualified long-term real property. When is the last day to file taxes 2014 Guidelines for Selected Occupations Accounting for Your Income Introduction This chapter primarily explains business income and how to account for it on your tax return, what items are not considered income, and gives guidelines for selected occupations. When is the last day to file taxes 2014 If there is a connection between any income you receive and your business, the income is business income. When is the last day to file taxes 2014 A connection exists if it is clear that the payment of income would not have been made if you did not have the business. When is the last day to file taxes 2014 You can have business income even if you are not involved in the activity on a regular full-time basis. When is the last day to file taxes 2014 Income from work you do on the side in addition to your regular job can be business income. When is the last day to file taxes 2014 You report most business income, such as income from selling your products or services, on Schedule C or C-EZ. When is the last day to file taxes 2014 But you report the income from the sale of business assets, such as land and office buildings, on other forms instead of Schedule C or C-EZ. When is the last day to file taxes 2014 For information on selling business assets, see chapter 3. When is the last day to file taxes 2014 Nonemployee compensation. When is the last day to file taxes 2014 Business income includes amounts you received in your business that were properly shown on Forms 1099-MISC. When is the last day to file taxes 2014 This includes amounts reported as nonemployee compensation in box 7 of the form. When is the last day to file taxes 2014 You can find more information in the instructions on the back of the Form 1099-MISC you received. When is the last day to file taxes 2014 Kinds of Income You must report on your tax return all income you receive from your business unless it is excluded by law. When is the last day to file taxes 2014 In most cases, your business income will be in the form of cash, checks, and credit card charges. When is the last day to file taxes 2014 But business income can be in other forms, such as property or services. When is the last day to file taxes 2014 These and other types of income are explained next. When is the last day to file taxes 2014 If you are a U. When is the last day to file taxes 2014 S. When is the last day to file taxes 2014 citizen who has business income from sources outside the United States (foreign income), you must report that income on your tax return unless it is exempt from tax under U. When is the last day to file taxes 2014 S. When is the last day to file taxes 2014 law. When is the last day to file taxes 2014 If you live outside the United States, you may be able to exclude part or all of your foreign-source business income. When is the last day to file taxes 2014 For details, see Publication 54, Tax Guide for U. When is the last day to file taxes 2014 S. When is the last day to file taxes 2014 Citizens and Resident Aliens Abroad. When is the last day to file taxes 2014 Bartering for Property or Services Bartering is an exchange of property or services. When is the last day to file taxes 2014 You must include in your gross receipts, at the time received, the fair market value of property or services you receive in exchange for something else. When is the last day to file taxes 2014 If you exchange services with another person and you both have agreed ahead of time on the value of the services, that value will be accepted as the fair market value unless the value can be shown to be otherwise. When is the last day to file taxes 2014 Example 1. When is the last day to file taxes 2014 You are a self-employed lawyer. When is the last day to file taxes 2014 You perform legal services for a client, a small corporation. When is the last day to file taxes 2014 In payment for your services, you receive shares of stock in the corporation. When is the last day to file taxes 2014 You must include the fair market value of the shares in income. When is the last day to file taxes 2014 Example 2. When is the last day to file taxes 2014 You are an artist and create a work of art to compensate your landlord for the rent-free use of your apartment. When is the last day to file taxes 2014 You must include the fair rental value of the apartment in your gross receipts. When is the last day to file taxes 2014 Your landlord must include the fair market value of the work of art in his or her rental income. When is the last day to file taxes 2014 Example 3. When is the last day to file taxes 2014 You are a self-employed accountant. When is the last day to file taxes 2014 Both you and a house painter are members of a barter club, an organization that each year gives its members a directory of members and the services each member provides. When is the last day to file taxes 2014 Members get in touch with other members directly and bargain for the value of the services to be performed. When is the last day to file taxes 2014 In return for accounting services you provided for the house painter's business, the house painter painted your home. When is the last day to file taxes 2014 You must include in gross receipts the fair market value of the services you received from the house painter. When is the last day to file taxes 2014 The house painter must include the fair market value of your accounting services in his or her gross receipts. When is the last day to file taxes 2014 Example 4. When is the last day to file taxes 2014 You are a member of a barter club that uses credit units to credit or debit members' accounts for goods or services provided or received. When is the last day to file taxes 2014 As soon as units are credited to your account, you can use them to buy goods or services or sell or transfer the units to other members. When is the last day to file taxes 2014 You must include the value of credit units you received in your gross receipts for the tax year in which the units are credited to your account. When is the last day to file taxes 2014 The dollar value of units received for services by an employee of the club, who can use the units in the same manner as other members, must be included in the employee's gross income for the tax year in which received. When is the last day to file taxes 2014 It is wages subject to social security and Medicare taxes (FICA), federal unemployment taxes (FUTA), and income tax withholding. When is the last day to file taxes 2014 See Publication 15 (Circular E), Employer's Tax Guide. When is the last day to file taxes 2014 Example 5. When is the last day to file taxes 2014 You operate a plumbing business and use the cash method of accounting. When is the last day to file taxes 2014 You join a barter club and agree to provide plumbing services to any member for a specified number of hours. When is the last day to file taxes 2014 Each member has access to a directory that lists the members of the club and the services available. When is the last day to file taxes 2014 Members contact each other directly and request services to be performed. When is the last day to file taxes 2014 You are not required to provide services unless requested by another member, but you can use as many of the offered services as you wish without paying a fee. When is the last day to file taxes 2014 You must include the fair market value of any services you receive from club members in your gross receipts when you receive them even if you have not provided any services to club members. When is the last day to file taxes 2014 Information returns. When is the last day to file taxes 2014   If you are involved in a bartering transaction, you may have to file either of the following forms. When is the last day to file taxes 2014 Form 1099-B, Proceeds From Broker and Barter Exchange Transactions. When is the last day to file taxes 2014 Form 1099-MISC, Miscellaneous Income. When is the last day to file taxes 2014 For information about these forms, see the General Instructions for Certain Information Returns. When is the last day to file taxes 2014 Real Estate Rents If you are a real estate dealer who receives income from renting real property or an owner of a hotel, motel, etc. When is the last day to file taxes 2014 , who provides services (maid services, etc. When is the last day to file taxes 2014 ) for guests, report the rental income and expenses on Schedule C or C-EZ. When is the last day to file taxes 2014 If you are not a real estate dealer or the kind of owner described in the preceding sentence, report the rental income and expenses on Schedule E. When is the last day to file taxes 2014 For more information, see Publication 527, Residential Rental Property (Including Rental of Vacation Homes). When is the last day to file taxes 2014 Real estate dealer. When is the last day to file taxes 2014   You are a real estate dealer if you are engaged in the business of selling real estate to customers with the purpose of making a profit from those sales. When is the last day to file taxes 2014 Rent you receive from real estate held for sale to customers is subject to SE tax. When is the last day to file taxes 2014 However, rent you receive from real estate held for speculation or investment is not subject to SE tax. When is the last day to file taxes 2014 Trailer park owner. When is the last day to file taxes 2014   Rental income from a trailer park is subject to SE tax if you are a self-employed trailer park owner who provides trailer lots and facilities and substantial services for the convenience of your tenants. When is the last day to file taxes 2014    You generally are considered to provide substantial services for tenants if they are primarily for the tenants' convenience and normally are not provided to maintain the lots in a condition for occupancy. When is the last day to file taxes 2014 Services are substantial if the compensation for the services makes up a material part of the tenants' rental payments. When is the last day to file taxes 2014   Examples of services that are not normally provided for the tenants' convenience include supervising and maintaining a recreational hall provided by the park, distributing a monthly newsletter to tenants, operating a laundry facility, and helping tenants buy or sell their trailers. When is the last day to file taxes 2014   Examples of services that are normally provided to maintain the lots in a condition for tenant occupancy include city sewerage, electrical connections, and roadways. When is the last day to file taxes 2014 Hotels, boarding houses, and apartments. When is the last day to file taxes 2014   Rental income you receive for the use or occupancy of hotels, boarding houses, or apartment houses is subject to SE tax if you provide services for the occupants. When is the last day to file taxes 2014   Generally, you are considered to provide services for the occupants if the services are primarily for their convenience and are not services normally provided with the rental of rooms for occupancy only. When is the last day to file taxes 2014 An example of a service that is not normally provided for the convenience of the occupants is maid service. When is the last day to file taxes 2014 However, providing heat and light, cleaning stairways and lobbies, and collecting trash are services normally provided for the occupants' convenience. When is the last day to file taxes 2014 Prepaid rent. When is the last day to file taxes 2014   Advance payments received under a lease that does not put any restriction on their use or enjoyment are income in the year you receive them. When is the last day to file taxes 2014 This is true no matter what accounting method or period you use. When is the last day to file taxes 2014 Lease bonus. When is the last day to file taxes 2014   A bonus you receive from a lessee for granting a lease is an addition to the rent. When is the last day to file taxes 2014 Include it in your gross receipts in the year received. When is the last day to file taxes 2014 Lease cancellation payments. When is the last day to file taxes 2014   Report payments you receive from your lessee for canceling a lease in your gross receipts in the year received. When is the last day to file taxes 2014 Payments to third parties. When is the last day to file taxes 2014   If your lessee makes payments to someone else under an agreement to pay your debts or obligations, include the payments in your gross receipts when the lessee makes the payments. When is the last day to file taxes 2014 A common example of this kind of income is a lessee's payment of your property taxes on leased real property. When is the last day to file taxes 2014 Settlement payments. When is the last day to file taxes 2014   Payments you receive in settlement of a lessee's obligation to restore the leased property to its original condition are income in the amount that the payments exceed the adjusted basis of the leasehold improvements destroyed, damaged, removed, or disconnected by the lessee. When is the last day to file taxes 2014 Personal Property Rents If you are in the business of renting personal property (equipment, vehicles, formal wear, etc. When is the last day to file taxes 2014 ), include the rental amount you receive in your gross receipts on Schedule C or C-EZ. When is the last day to file taxes 2014 Prepaid rent and other payments described in the preceding Real Estate Rents discussion can also be received for renting personal property. When is the last day to file taxes 2014 If you receive any of those payments, include them in your gross receipts as explained in that discussion. When is the last day to file taxes 2014 Interest and Dividend Income Interest and dividends may be considered business income. When is the last day to file taxes 2014 Interest. When is the last day to file taxes 2014   Interest received on notes receivable that you have accepted in the ordinary course of business is business income. When is the last day to file taxes 2014 Interest received on loans is business income if you are in the business of lending money. When is the last day to file taxes 2014 Uncollectible loans. When is the last day to file taxes 2014   If a loan payable to you becomes uncollectible during the tax year and you use an accrual method of accounting, you must include in gross income interest accrued up to the time the loan became uncollectible. When is the last day to file taxes 2014 If the accrued interest later becomes uncollectible, you may be able to take a bad debt deduction. When is the last day to file taxes 2014 See Bad Debts in chapter 8. When is the last day to file taxes 2014 Unstated interest. When is the last day to file taxes 2014   If little or no interest is charged on an installment sale, you may have to treat a part of each payment as unstated interest. When is the last day to file taxes 2014 See Unstated Interest and Original Issue Discount (OID) in Publication 537, Installment Sales. When is the last day to file taxes 2014 Dividends. When is the last day to file taxes 2014   Generally, dividends are business income to dealers in securities. When is the last day to file taxes 2014 For most sole proprietors and statutory employees, however, dividends are nonbusiness income. When is the last day to file taxes 2014 If you hold stock as a personal investment separately from your business activity, the dividends from the stock are nonbusiness income. When is the last day to file taxes 2014   If you receive dividends from business insurance premiums you deducted in an earlier year, you must report all or part of the dividend as business income on your return. When is the last day to file taxes 2014 To find out how much you have to report, see   Recovery of items previously deducted under Other Income, later. When is the last day to file taxes 2014 Canceled Debt The following explains the general rule for including canceled debt in income and the exceptions to the general rule. When is the last day to file taxes 2014 General Rule Generally, if your debt is canceled or forgiven, other than as a gift or bequest to you, you must include the canceled amount in your gross income for tax purposes. When is the last day to file taxes 2014 Report the canceled amount on line 6 of Schedule C if you incurred the debt in your business. When is the last day to file taxes 2014 If the debt is a nonbusiness debt, report the canceled amount on line 21 of Form 1040. When is the last day to file taxes 2014 Exceptions The following discussion covers some exceptions to the general rule for canceled debt. When is the last day to file taxes 2014 Price reduced after purchase. When is the last day to file taxes 2014   If you owe a debt to the seller for property you bought and the seller reduces the amount you owe, you generally do not have income from the reduction. When is the last day to file taxes 2014 Unless you are bankrupt or insolvent, treat the amount of the reduction as a purchase price adjustment and reduce your basis in the property. When is the last day to file taxes 2014 Deductible debt. When is the last day to file taxes 2014   You do not realize income from a canceled debt to the extent the payment of the debt would have led to a deduction. When is the last day to file taxes 2014 Example. When is the last day to file taxes 2014 You get accounting services for your business on credit. When is the last day to file taxes 2014 Later, you have trouble paying your business debts, but you are not bankrupt or insolvent. When is the last day to file taxes 2014 Your accountant forgives part of the amount you owe for the accounting services. When is the last day to file taxes 2014 How you treat the canceled debt depends on your method of accounting. When is the last day to file taxes 2014 Cash method — You do not include the canceled debt in income because payment of the debt would have been deductible as a business expense. When is the last day to file taxes 2014 Accrual method — You include the canceled debt in income because the expense was deductible when you incurred the debt. When is the last day to file taxes 2014   For information on the cash and accrual methods of accounting, see chapter 2. When is the last day to file taxes 2014 Exclusions Do not include canceled debt in income in the following situations. When is the last day to file taxes 2014 However, you may be required to file Form 982, Reduction of Tax Attributes Due to Discharge of Indebtedness. When is the last day to file taxes 2014 For more information, see Form 982. When is the last day to file taxes 2014 The cancellation takes place in a bankruptcy case under title 11 of the U. When is the last day to file taxes 2014 S. When is the last day to file taxes 2014 Code (relating to bankruptcy). When is the last day to file taxes 2014 See Publication 908, Bankruptcy Tax Guide. When is the last day to file taxes 2014 The cancellation takes place when you are insolvent. When is the last day to file taxes 2014 You can exclude the canceled debt to the extent you are insolvent. When is the last day to file taxes 2014 See Publication 908. When is the last day to file taxes 2014 The canceled debt is a qualified farm debt owed to a qualified person. When is the last day to file taxes 2014 See chapter 3 in Publication 225, Farmer's Tax Guide. When is the last day to file taxes 2014 The canceled debt is a qualified real property business debt. When is the last day to file taxes 2014 This situation is explained later. When is the last day to file taxes 2014 The canceled debt is qualified principal residence indebtedness which is discharged after 2006. When is the last day to file taxes 2014 See Form 982. When is the last day to file taxes 2014 If a canceled debt is excluded from income because it takes place in a bankruptcy case, the exclusions in situations 2 through 5 do not apply. When is the last day to file taxes 2014 If it takes place when you are insolvent, the exclusions in situations 3 and 4 do not apply to the extent you are insolvent. When is the last day to file taxes 2014 Debt. When is the last day to file taxes 2014   For purposes of this discussion, debt includes any debt for which you are liable or which attaches to property you hold. When is the last day to file taxes 2014 Qualified real property business debt. When is the last day to file taxes 2014   You can elect to exclude (up to certain limits) the cancellation of qualified real property business debt. When is the last day to file taxes 2014 If you make the election, you must reduce the basis of your depreciable real property by the amount excluded. When is the last day to file taxes 2014 Make this reduction at the beginning of your tax year following the tax year in which the cancellation occurs. When is the last day to file taxes 2014 However, if you dispose of the property before that time, you must reduce its basis immediately before the disposition. When is the last day to file taxes 2014 Cancellation of qualified real property business debt. When is the last day to file taxes 2014   Qualified real property business debt is debt (other than qualified farm debt) that meets all the following conditions. When is the last day to file taxes 2014 It was incurred or assumed in connection with real property used in a trade or business. When is the last day to file taxes 2014 It was secured by such real property. When is the last day to file taxes 2014 It was incurred or assumed at either of the following times. When is the last day to file taxes 2014 Before January 1, 1993. When is the last day to file taxes 2014 After December 31, 1992, if incurred or assumed to acquire, construct, or substantially improve the real property. When is the last day to file taxes 2014 It is debt to which you choose to apply these rules. When is the last day to file taxes 2014   Qualified real property business debt includes refinancing of debt described in (3) earlier, but only to the extent it does not exceed the debt being refinanced. When is the last day to file taxes 2014   You cannot exclude more than either of the following amounts. When is the last day to file taxes 2014 The excess (if any) of: The outstanding principal of qualified real property business debt (immediately before the cancellation), over The fair market value (immediately before the cancellation) of the business real property that is security for the debt, reduced by the outstanding principal amount of any other qualified real property business debt secured by this property immediately before the cancellation. When is the last day to file taxes 2014 The total adjusted bases of depreciable real property held by you immediately before the cancellation. When is the last day to file taxes 2014 These adjusted bases are determined after any basis reduction due to a cancellation in bankruptcy, insolvency, or of qualified farm debt. When is the last day to file taxes 2014 Do not take into account depreciable real property acquired in contemplation of the cancellation. When is the last day to file taxes 2014 Election. When is the last day to file taxes 2014   To make this election, complete Form 982 and attach it to your income tax return for the tax year in which the cancellation occurs. When is the last day to file taxes 2014 You must file your return by the due date (including extensions). When is the last day to file taxes 2014 If you timely filed your return for the year without making the election, you can still make the election by filing an amended return within 6 months of the due date of the return (excluding extensions). When is the last day to file taxes 2014 For more information, see When To File in the form instructions. When is the last day to file taxes 2014 Other Income The following discussion explains how to treat other types of business income you may receive. When is the last day to file taxes 2014 Restricted property. When is the last day to file taxes 2014   Restricted property is property that has certain restrictions that affect its value. When is the last day to file taxes 2014 If you receive restricted stock or other property for services performed, the fair market value of the property in excess of your cost is included in your income on Schedule C or C-EZ when the restriction is lifted. When is the last day to file taxes 2014 However, you can choose to be taxed in the year you receive the property. When is the last day to file taxes 2014 For more information on including restricted property in income, see Publication 525, Taxable and Nontaxable Income. When is the last day to file taxes 2014 Gains and losses. When is the last day to file taxes 2014   Do not report on Schedule C or C-EZ a gain or loss from the disposition of property that is neither stock in trade nor held primarily for sale to customers. When is the last day to file taxes 2014 Instead, you must report these gains and losses on other forms. When is the last day to file taxes 2014 For more information, see chapter 3. When is the last day to file taxes 2014 Promissory notes. When is the last day to file taxes 2014   Report promissory notes and other evidences of debt issued to you in a sale or exchange of property that is stock in trade or held primarily for sale to customers on Schedule C or C-EZ. When is the last day to file taxes 2014 In general, you report them at their stated principal amount (minus any unstated interest) when you receive them. When is the last day to file taxes 2014 Lost income payments. When is the last day to file taxes 2014   If you reduce or stop your business activities, report on Schedule C or C-EZ any payment you receive for the lost income of your business from insurance or other sources. When is the last day to file taxes 2014 Report it on Schedule C or C-EZ even if your business is inactive when you receive the payment. When is the last day to file taxes 2014 Damages. When is the last day to file taxes 2014   You must include in gross income compensation you receive during the tax year as a result of any of the following injuries connected with your business. When is the last day to file taxes 2014 Patent infringement. When is the last day to file taxes 2014 Breach of contract or fiduciary duty. When is the last day to file taxes 2014 Antitrust injury. When is the last day to file taxes 2014 Economic injury. When is the last day to file taxes 2014   You may be entitled to a deduction against the income if it compensates you for actual economic injury. When is the last day to file taxes 2014 Your deduction is the smaller of the following amounts. When is the last day to file taxes 2014 The amount you receive or accrue for damages in the tax year reduced by the amount you pay or incur in the tax year to recover that amount. When is the last day to file taxes 2014 Your loss from the injury that you have not yet deducted. When is the last day to file taxes 2014 Punitive damages. When is the last day to file taxes 2014   You must also include punitive damages in income. When is the last day to file taxes 2014 Kickbacks. When is the last day to file taxes 2014   If you receive any kickbacks, include them in your income on Schedule C or C-EZ. When is the last day to file taxes 2014 However, do not include them if you properly treat them as a reduction of a related expense item, a capital expenditure, or cost of goods sold. When is the last day to file taxes 2014 Recovery of items previously deducted. When is the last day to file taxes 2014   If you recover a bad debt or any other item deducted in a previous year, include the recovery in income on Schedule C or C-EZ. When is the last day to file taxes 2014 However, if all or part of the deduction in earlier years did not reduce your tax, you can exclude the part that did not reduce your tax. When is the last day to file taxes 2014 If you exclude part of the recovery from income, you must include with your return a computation showing how you figured the exclusion. When is the last day to file taxes 2014 Example. When is the last day to file taxes 2014 Joe Smith, a sole proprietor, had gross income of $8,000, a bad debt deduction of $300, and other allowable deductions of $7,700. When is the last day to file taxes 2014 He also had 2 personal exemptions for a total of $7,800. When is the last day to file taxes 2014 He would not pay income tax even if he did not deduct the bad debt. When is the last day to file taxes 2014 Therefore, he will not report as income any part of the $300 he may recover in any future year. When is the last day to file taxes 2014 Exception for depreciation. When is the last day to file taxes 2014   This rule does not apply to depreciation. When is the last day to file taxes 2014 You recover depreciation using the rules explained next. When is the last day to file taxes 2014 Recapture of depreciation. When is the last day to file taxes 2014   In the following situations, you have to recapture the depreciation deduction. When is the last day to file taxes 2014 This means you include in income part or all of the depreciation you deducted in previous years. When is the last day to file taxes 2014 Listed property. When is the last day to file taxes 2014   If your business use of listed property (explained in chapter 8 under Depreciation ) falls to 50% or less in a tax year after the tax year you placed the property in service, you may have to recapture part of the depreciation deduction. When is the last day to file taxes 2014 You do this by including in income on Schedule C part of the depreciation you deducted in previous years. When is the last day to file taxes 2014 Use Part IV of Form 4797, Sales of Business Property, to figure the amount to include on Schedule C. When is the last day to file taxes 2014 For more information, see What is the Business-Use Requirement? in chapter 5 of Publication 946, How To Depreciate Property. When is the last day to file taxes 2014 That chapter explains how to determine whether property is used more than 50% in your business. When is the last day to file taxes 2014 Section 179 property. When is the last day to file taxes 2014   If you take a section 179 deduction (explained in chapter 8 under Depreciation ) for an asset and before the end of the asset's recovery period the percentage of business use drops to 50% or less, you must recapture part of the section 179 deduction. When is the last day to file taxes 2014 You do this by including in income on Schedule C part of the deduction you took. When is the last day to file taxes 2014 Use Part IV of Form 4797 to figure the amount to include on Schedule C. When is the last day to file taxes 2014 See chapter 2 in Publication 946 to find out when you recapture the deduction. When is the last day to file taxes 2014 Sale or exchange of depreciable property. When is the last day to file taxes 2014   If you sell or exchange depreciable property at a gain, you may have to treat all or part of the gain due to depreciation as ordinary income. When is the last day to file taxes 2014 You figure the income due to depreciation recapture in Part III of Form 4797. When is the last day to file taxes 2014 For more information, see chapter 4 in Publication 544, Sales and Other Dispositions of Assets. When is the last day to file taxes 2014 Items That Are Not Income In some cases the property or money you receive is not income. When is the last day to file taxes 2014 Appreciation. When is the last day to file taxes 2014   Increases in value of your property are not income until you realize the increases through a sale or other taxable disposition. When is the last day to file taxes 2014 Consignments. When is the last day to file taxes 2014   Consignments of merchandise to others to sell for you are not sales. When is the last day to file taxes 2014 The title of merchandise remains with you, the consignor, even after the consignee possesses the merchandise. When is the last day to file taxes 2014 Therefore, if you ship goods on consignment, you have no profit or loss until the consignee sells the merchandise. When is the last day to file taxes 2014 Merchandise you have shipped out on consignment is included in your inventory until it is sold. When is the last day to file taxes 2014   Do not include merchandise you receive on consignment in your inventory. When is the last day to file taxes 2014 Include your profit or commission on merchandise consigned to you in your income when you sell the merchandise or when you receive your profit or commission, depending upon the method of accounting you use. When is the last day to file taxes 2014 Construction allowances. When is the last day to file taxes 2014   If you enter into a lease after August 5, 1997, you can exclude from income the construction allowance you receive (in cash or as a rent reduction) from your landlord if you receive it under both the following conditions. When is the last day to file taxes 2014 Under a short-term lease of retail space. When is the last day to file taxes 2014 For the purpose of constructing or improving qualified long-term real property for use in your business at that retail space. When is the last day to file taxes 2014 Amount you can exclude. When is the last day to file taxes 2014   You can exclude the construction allowance to the extent it does not exceed the amount you spent for construction or improvements. When is the last day to file taxes 2014 Short-term lease. When is the last day to file taxes 2014   A short-term lease is a lease (or other agreement for occupancy or use) of retail space for 15 years or less. When is the last day to file taxes 2014 The following rules apply in determining whether the lease is for 15 years or less. When is the last day to file taxes 2014 Take into account options to renew when figuring whether the lease is for 15 years or less. When is the last day to file taxes 2014 But do not take into account any option to renew at fair market value determined at the time of renewal. When is the last day to file taxes 2014 Two or more successive leases that are part of the same transaction (or a series of related transactions) for the same or substantially similar retail space are treated as one lease. When is the last day to file taxes 2014 Retail space. When is the last day to file taxes 2014   Retail space is real property leased, occupied, or otherwise used by you as a tenant in your business of selling tangible personal property or services to the general public. When is the last day to file taxes 2014 Qualified long-term real property. When is the last day to file taxes 2014   Qualified long-term real property is nonresidential real property that is part of, or otherwise present at, your retail space and that reverts to the landlord when the lease ends. When is the last day to file taxes 2014 Exchange of like-kind property. When is the last day to file taxes 2014   If you exchange your business property or property you hold for investment solely for property of a like kind to be used in your business or to be held for investment, no gain or loss is recognized. When is the last day to file taxes 2014 This means that the gain is not taxable and the loss is not deductible. When is the last day to file taxes 2014 A common type of nontaxable exchange is the trade-in of a business automobile for another business automobile. When is the last day to file taxes 2014 For more information, see Form 8824. When is the last day to file taxes 2014 Leasehold improvements. When is the last day to file taxes 2014   If a tenant erects buildings or makes improvements to your property, the increase in the value of the property due to the improvements is not income to you. When is the last day to file taxes 2014 However, if the facts indicate that the improvements are a payment of rent to you, then the increase in value would be income. When is the last day to file taxes 2014 Loans. When is the last day to file taxes 2014   Money borrowed through a bona fide loan is not income. When is the last day to file taxes 2014 Sales tax. When is the last day to file taxes 2014   State and local sales taxes imposed on the buyer, which you were required to collect and pay over to state or local governments, are not income. When is the last day to file taxes 2014 Guidelines for Selected Occupations This section provides information to determine whether your earnings should be reported on Schedule C (Form 1040) or C-EZ (Form 1040). When is the last day to file taxes 2014 Direct seller. When is the last day to file taxes 2014   You must report all income you receive as a direct seller on Schedule C or C-EZ. When is the last day to file taxes 2014 This includes any of the following. When is the last day to file taxes 2014 Income from sales—payments you receive from customers for products they buy from you. When is the last day to file taxes 2014 Commissions, bonuses, or percentages you receive for sales and the sales of others who work under you. When is the last day to file taxes 2014 Prizes, awards, and gifts you receive from your selling business. When is the last day to file taxes 2014 You must report this income regardless of whether it is reported to you on an information return. When is the last day to file taxes 2014   You are a direct seller if you meet all the following conditions. When is the last day to file taxes 2014 You are engaged in one of the following trades or businesses. When is the last day to file taxes 2014 Selling or soliciting the sale of consumer products either in a home or other place that is not a permanent retail establishment, or to any buyer on a buy-sell basis or a deposit-commission basis for resale in a home or other place of business that is not a permanent retail establishment. When is the last day to file taxes 2014 Delivering or distributing newspapers or shopping news (including any services directly related to that trade or business). When is the last day to file taxes 2014 Substantially all your pay (whether paid in cash or not) for services described above is directly related to sales or other output (including performance of services) rather than to the number of hours worked. When is the last day to file taxes 2014 Your services are performed under a written contract between you and the person for whom you perform the services, and the contract provides that you will not be treated as an employee for federal tax purposes. When is the last day to file taxes 2014 Executor or administrator. When is the last day to file taxes 2014   If you administer a deceased person's estate, your fees are reported on Schedule C or C-EZ if you are one of the following: A professional fiduciary. When is the last day to file taxes 2014 A nonprofessional fiduciary (personal representative) and both of the following apply. When is the last day to file taxes 2014 The estate includes an active trade or business in which you actively participate. When is the last day to file taxes 2014 Your fees are related to the operation of that trade or business. When is the last day to file taxes 2014 A nonprofessional fiduciary of a single estate that requires extensive managerial activities on your part for a long period of time, provided these activities are enough to be considered a trade or business. When is the last day to file taxes 2014    If the fees do not meet the above requirements, report them on line 21 of Form 1040. When is the last day to file taxes 2014 Fishing crew member. When is the last day to file taxes 2014    If you are a member of the crew that catches fish or other water life, your earnings are reported on Schedule C or C-EZ if you meet all the requirements shown in chapter 10 under Fishing crew member . When is the last day to file taxes 2014 Insurance agent, former. When is the last day to file taxes 2014   Termination payments you receive as a former self-employed insurance agent from an insurance company because of services you performed for that company are not reported on Schedule C or C-EZ if all the following conditions are met. When is the last day to file taxes 2014 You received payments after your agreement to perform services for the company ended. When is the last day to file taxes 2014 You did not perform any services for the company after your service agreement ended and before the end of the year in which you received the payment. When is the last day to file taxes 2014 You entered into a covenant not to compete against the company for at least a 1-year period beginning on the date your service agreement ended. When is the last day to file taxes 2014 The amount of the payments depended primarily on policies sold by you or credited to your account during the last year of your service agreement or the extent to which those policies remain in force for some period after your service agreement ended, or both. When is the last day to file taxes 2014 The amount of the payment did not depend to any extent on length of service or overall earnings from services performed for the company (regardless of whether eligibility for the payments depended on length of service). When is the last day to file taxes 2014 Insurance agent, retired. When is the last day to file taxes 2014   Income paid by an insurance company to a retired self-employed insurance agent based on a percentage of commissions received before retirement is reported on Schedule C or C-EZ. When is the last day to file taxes 2014 Also, renewal commissions and deferred commissions for sales made before retirement are generally reported on Schedule C or C-EZ. When is the last day to file taxes 2014   However, renewal commissions paid to the survivor of an insurance agent are not reported on Schedule C or C-EZ. When is the last day to file taxes 2014 Newspaper carrier or distributor. When is the last day to file taxes 2014   You are a direct seller and your earnings are reported on Schedule C or C-EZ if all the following conditions apply. When is the last day to file taxes 2014 You are in the business of delivering or distributing newspapers or shopping news (including directly related services such as soliciting customers and collecting receipts). When is the last day to file taxes 2014 Substantially all your pay for these services directly relates to your sales or other output rather than to the number of hours you work. When is the last day to file taxes 2014 You perform the services under a written contract that says you will not be treated as an employee for federal tax purposes. When is the last day to file taxes 2014   This rule applies whether or not you hire others to help you make deliveries. When is the last day to file taxes 2014 It also applies whether you buy the papers from the publisher or are paid based on the number of papers you deliver. When is the last day to file taxes 2014 Newspaper or magazine vendor. When is the last day to file taxes 2014   If you are 18 or older and you sell newspapers or magazines, your earnings are reported on Schedule C or C-EZ if all the following conditions apply. When is the last day to file taxes 2014 You sell newspapers or magazines to ultimate consumers. When is the last day to file taxes 2014 You sell them at a fixed price. When is the last day to file taxes 2014 Your earnings are based on the difference between the sales price and your cost of goods sold. When is the last day to file taxes 2014   This rule applies whether or not you are guaranteed a minimum amount of earnings. When is the last day to file taxes 2014 It also applies whether or not you receive credit for unsold newspapers or magazines you return to your supplier. When is the last day to file taxes 2014 Notary public. When is the last day to file taxes 2014   Fees you receive for services you perform as a notary public are reported on Schedule C or C-EZ. When is the last day to file taxes 2014 These payments are not subject to self-employment tax (see the instructions for Schedule SE (Form 1040)). When is the last day to file taxes 2014 Public official. When is the last day to file taxes 2014   Public officials generally do not report what they earn for serving in public office on Schedule C or C-EZ. When is the last day to file taxes 2014 This rule applies to payments received by an elected tax collector from state funds on the basis of a fixed percentage of the taxes collected. When is the last day to file taxes 2014 Public office includes any elective or appointive office of the United States or its possessions, the District of Columbia, a state or its political subdivisions, or a wholly owned instrumentality of any of these. When is the last day to file taxes 2014   Public officials of state or local governments report their fees on Schedule C or C-EZ if they are paid solely on a fee basis and if their services are eligible for, but not covered by, social security under a federal-state agreement. When is the last day to file taxes 2014 Real estate agent or direct seller. When is the last day to file taxes 2014   If you are a licensed real estate agent or a direct seller, your earnings are reported on Schedule C or C-EZ if both the following apply. When is the last day to file taxes 2014 Substantially all your pay for services as a real estate agent or direct seller directly relates to your sales or other output rather than to the number of hours you work. When is the last day to file taxes 2014 You perform the services under a written contract that says you will not be treated as an employee for federal tax purposes. When is the last day to file taxes 2014 Securities dealer. When is the last day to file taxes 2014   If you are a dealer in options or commodities, your gains and losses from dealing or trading in section 1256 contracts (regulated futures contracts, foreign currency contracts, nonequity options, dealer equity options, and dealer securities futures contracts) or property related to those contracts (such as stock used to hedge options) are reported on Schedule C or C-EZ. When is the last day to file taxes 2014 For more information, see sections 1256 and 1402(i). When is the last day to file taxes 2014 Securities trader. When is the last day to file taxes 2014   You are a trader in securities if you are engaged in the business of buying and selling securities for your own account. When is the last day to file taxes 2014 As a trader in securities, your gain or loss from the disposition of securities is not reported on Schedule C or C-EZ. When is the last day to file taxes 2014 However, see Securities dealer , earlier, for an exception that applies to section 1256 contracts. When is the last day to file taxes 2014 For more information about securities traders, see Publication 550, Investment Income and Expenses. When is the last day to file taxes 2014 Accounting for Your Income Accounting for your income for income tax purposes differs at times from accounting for financial purposes. When is the last day to file taxes 2014 This section discusses some of the more common differences that may affect business transactions. When is the last day to file taxes 2014 Figure your business income on the basis of a tax year and according to your regular method of accounting (see chapter 2). When is the last day to file taxes 2014 If the sale of a product is an income-producing factor in your business, you usually have to use inventories to clearly show your income. When is the last day to file taxes 2014 Dealers in real estate are not allowed to use inventories. When is the last day to file taxes 2014 For more information on inventories, see chapter 2. When is the last day to file taxes 2014 Income paid to a third party. When is the last day to file taxes 2014   All income you earn is taxable to you. When is the last day to file taxes 2014 You cannot avoid tax by having the income paid to a third party. When is the last day to file taxes 2014 Example. When is the last day to file taxes 2014 You rent out your property and the rental agreement directs the lessee to pay the rent to your son. When is the last day to file taxes 2014 The amount paid to your son is gross income to you. When is the last day to file taxes 2014 Cash discounts. When is the last day to file taxes 2014   These are amounts the seller permits you to deduct from the invoice price for prompt payment. When is the last day to file taxes 2014 For income tax purposes, you can use either of the following two methods to account for cash discounts. When is the last day to file taxes 2014 Deduct the cash discount from purchases (see Line 36, Purchases Less Cost of Items Withdrawn for Personal Use in chapter 6). When is the last day to file taxes 2014 Credit the cash discount to a discount income account. When is the last day to file taxes 2014 You must use the chosen method every year for all your purchase discounts. When is the last day to file taxes 2014   If you use the second method, the credit balance in the account at the end of your tax year is business income. When is the last day to file taxes 2014 Under this method, you do not reduce the cost of goods sold by the cash discounts you received. When is the last day to file taxes 2014 When valuing your closing inventory, you cannot reduce the invoice price of merchandise on hand at the close of the tax year by the average or estimated discounts received on the merchandise. When is the last day to file taxes 2014 Trade discounts. When is the last day to file taxes 2014   These are reductions from list or catalog prices and usually are not written into the invoice or charged to the customer. When is the last day to file taxes 2014 Do not enter these discounts on your books of account. When is the last day to file taxes 2014 Instead, use only the net amount as the cost of the merchandise purchased. When is the last day to file taxes 2014 For more information, see Trade discounts in chapter 6. When is the last day to file taxes 2014 Payment placed in escrow. When is the last day to file taxes 2014   If the buyer of your property places part or all of the purchase price in escrow, you do not include any part of it in gross sales until you actually or constructively receive it. When is the last day to file taxes 2014 However, upon completion of the terms of the contract and the escrow agreement, you will have taxable income, even if you do not accept the money until the next year. When is the last day to file taxes 2014 Sales returns and allowances. When is the last day to file taxes 2014   Credits you allow customers for returned merchandise and any other allowances you make on sales are deductions from gross sales in figuring net sales. When is the last day to file taxes 2014 Advance payments. When is the last day to file taxes 2014   Special rules dealing with an accrual method of accounting for payments received in advance are discussed in chapter 2 under Accrual Method. When is the last day to file taxes 2014 Insurance proceeds. When is the last day to file taxes 2014   If you receive insurance or another type of reimbursement for a casualty or theft loss, you must subtract it from the loss when you figure your deduction. When is the last day to file taxes 2014 You cannot deduct the reimbursed part of a casualty or theft loss. When is the last day to file taxes 2014   For information on casualty or theft losses, see Publication 547, Casualties, Disasters, and Thefts. When is the last day to file taxes 2014 Prev  Up  Next   Home   More Online Publications