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Www.irs Tax Form 1040ez For 2012

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Www.irs Tax Form 1040ez For 2012

Www. Www.irs tax form 1040ez for 2012 irs tax form 1040ez for 2012 Index A Acknowledgment of contributions, Acknowledgment of Charitable Contributions of $250 or More Adverse determination, Adverse determination. Www.irs tax form 1040ez for 2012 Affordable Care Act Hospitals, What's New, New Requirements for section 501(c)(3) Hospitals Under the Affordable Care Act. Www.irs tax form 1040ez for 2012 Aged, home for, Home for the aged. Www.irs tax form 1040ez for 2012 Agricultural organization, Agricultural and Horticultural Organizations Airport, Other organizations. Www.irs tax form 1040ez for 2012 Alumni association, Alumni association. Www.irs tax form 1040ez for 2012 Amateur athletic organizations, Amateur Athletic Organizations Animals, prevention of cruelty to, Prevention of Cruelty to Children or Animals Appeal procedures, Appeal Procedures Application procedures, Application Procedures, Required Inclusions Bylaws, Bylaws. Www.irs tax form 1040ez for 2012 Conformed copy, Conformed copy. Www.irs tax form 1040ez for 2012 Description of activities, Description of activities. Www.irs tax form 1040ez for 2012 Employer identification number, Required Inclusions Financial data, Financial data. Www.irs tax form 1040ez for 2012 Organizing documents, Organizing documents. Www.irs tax form 1040ez for 2012 Aquatic resources, Agricultural and Horticultural Organizations Articles of organization, Articles of Organization Assistance (see Tax help) Athletic organization, Athletic organization. Www.irs tax form 1040ez for 2012 , Amateur Athletic Organizations Attorney's fees, Acceptance of attorneys' fees. Www.irs tax form 1040ez for 2012 Attribution, special rules, Special rules of attribution. Www.irs tax form 1040ez for 2012 B Black lung benefit trust, 501(c)(21) - Black Lung Benefit Trusts Board of trade, Board of trade. Www.irs tax form 1040ez for 2012 Bureau defined, Bureau defined. Www.irs tax form 1040ez for 2012 Burial benefit insurance, Burial and funeral benefit insurance organization. Www.irs tax form 1040ez for 2012 Business income, unrelated, Unrelated Business Income Tax Return Business league, 501(c)(6) - Business Leagues, etc. Www.irs tax form 1040ez for 2012 C Cemetery company, 501(c)(13) - Cemetery Companies Chamber of commerce, Chamber of commerce. Www.irs tax form 1040ez for 2012 Change in legal structure, Organizational Changes and Exempt Status Charitable contributions, Acknowledgment of Charitable Contributions of $250 or More, Contributions to 501(c)(3) Organizations Charitable organization, Section 501(c)(3) Organizations, Charitable Organizations Charitable risk pools, Charitable Risk Pools Child care organization, Child care organizations. Www.irs tax form 1040ez for 2012 Children, prevention of cruelty to, Prevention of Cruelty to Children or Animals Church, Churches. Www.irs tax form 1040ez for 2012 Integrated auxiliaries, Integrated auxiliaries. Www.irs tax form 1040ez for 2012 Civic leagues, 501(c)(4) - Civic Leagues and Social Welfare Organizations Clinic, Clinic. Www.irs tax form 1040ez for 2012 CO-OP Health Insurance Issuers, 501(c)(29) - CO-OP Health Insurance Issuers College bookstore, restaurant, College book stores, cafeterias, restaurants, etc. Www.irs tax form 1040ez for 2012 Comments, Comments and suggestions. Www.irs tax form 1040ez for 2012 Community association, Other organizations. Www.irs tax form 1040ez for 2012 Community nursing bureau, Community nursing bureau. Www.irs tax form 1040ez for 2012 Community trust, Community Trusts Contributions, charitable, Acknowledgment of Charitable Contributions of $250 or More, Contributions to 501(c)(3) Organizations Court appeals, Appeal to Courts Credit union, 501(c)(14) - Credit Unions and Other Mutual Financial Organizations D Determination letter, Rulings and Determination Letters Disclosures, required, Disclosure of Quid Pro Quo Contributions Dues used for lobbying, Dues Used for Lobbying or Political Activities Nondeductible contributions, Solicitation of Nondeductible Contributions Quid pro quo contributions, Disclosure of Quid Pro Quo Contributions Services available from government, Penalties. Www.irs tax form 1040ez for 2012 Dispositions of donated property, Donee Information Return Disqualified persons, Disqualified persons. Www.irs tax form 1040ez for 2012 Domestic fraternal society, Domestic Fraternal Societies (501(c)(10)) Donor advised funds Excess benefit transaction, Donor advised fund transactions occurring after August 17, 2006. Www.irs tax form 1040ez for 2012 Dues used for political or legislative activities, Dues Used for Lobbying or Political Activities, Deduction not allowed for dues used for political or legislative activities. Www.irs tax form 1040ez for 2012 E Educational organizations, Educational Organizations, Educational organizations. Www.irs tax form 1040ez for 2012 Employees' association, 501(c)(4), 501(c)(9), and 501(c)(17) - Employees' Associations Employment taxes, Employment Tax Returns Endowment fund, Endowment funds. Www.irs tax form 1040ez for 2012 Estimated tax, Estimated tax. Www.irs tax form 1040ez for 2012 Excess benefit transaction, Excess Benefit Transaction, Supporting organization transactions occurring after July 25, 2006. Www.irs tax form 1040ez for 2012 Disqualified person, Tax on Disqualified Persons, Disqualified Person Controlled entity, 35%, 35% controlled entity. Www.irs tax form 1040ez for 2012 Family members, Family members. Www.irs tax form 1040ez for 2012 Substantial influence, Persons not considered to have substantial influence. Www.irs tax form 1040ez for 2012 Disregarded benefits, Disregarded benefits. Www.irs tax form 1040ez for 2012 Donor advised funds, Donor advised fund transactions occurring after August 17, 2006. Www.irs tax form 1040ez for 2012 , Exception. Www.irs tax form 1040ez for 2012 Excise tax, Excise tax on excess benefit transactions. Www.irs tax form 1040ez for 2012 Initial contracts, Special Exception for Initial Contracts Reasonable compensation, Reasonable Compensation. Www.irs tax form 1040ez for 2012 Rebuttable presumption, Rebuttable presumption that a transaction is not an excess benefit transaction. Www.irs tax form 1040ez for 2012 Excise tax Black lung benefit trust, Excise taxes. Www.irs tax form 1040ez for 2012 Lobbying expenditures, Tax on excess expenditures to influence legislation. Www.irs tax form 1040ez for 2012 , Tax on disqualifying lobbying expenditures. Www.irs tax form 1040ez for 2012 Political expenditures, Excise taxes on political expenditures. Www.irs tax form 1040ez for 2012 Private foundations, Excise taxes on private foundations. Www.irs tax form 1040ez for 2012 , Excise Taxes on Private Foundations Exempt function, Political Organization Income Tax Return Exempt purposes, Section 501(c)(3) Organizations Exemption for terrorist organization, Non-exemption for terrorist organizations. Www.irs tax form 1040ez for 2012 Extensions of time, Extensions of time for filing. Www.irs tax form 1040ez for 2012 F Facts and circumstances test, Facts and circumstances test. Www.irs tax form 1040ez for 2012 Fair market value, estimate of, Good faith estimate of fair market value (FMV). Www.irs tax form 1040ez for 2012 Filing requirements, Annual Information Returns Annual information returns, Annual Information Returns Donee information return, Donee Information Return Due date, Political Organization Income Tax Return Employment tax, Employment Tax Returns Excise tax, Excise taxes on private foundations. Www.irs tax form 1040ez for 2012 , Excise Taxes on Private Foundations Political organization, Political Organization Income Tax Return Private foundations, Form 990-PF Unrelated business income, Unrelated Business Income Tax Return Form 990-N, Annual Electronic Filing Requirement for Small Tax-Exempt Organizations Forms, Forms Required 1023, Forms Required, Administrative Remedies, 270-day period. Www.irs tax form 1040ez for 2012 , Information required for subordinate organizations. Www.irs tax form 1040ez for 2012 , Annual Information Return, Form 1023. Www.irs tax form 1040ez for 2012 , Organizations Not Required To File Form 1023, Private Schools, When to file application. Www.irs tax form 1040ez for 2012 , Lobbying Expenditures, Volunteer fire companies. Www.irs tax form 1040ez for 2012 1024, Forms Required, Application made under wrong paragraph of section 501(c). Www.irs tax form 1040ez for 2012 , Annual Information Return, 501(c)(4) - Civic Leagues and Social Welfare Organizations, 501(c)(6) - Business Leagues, etc. Www.irs tax form 1040ez for 2012 , 501(c)(7) - Social and Recreation Clubs, 501(c)(8) and 501(c)(10) - Fraternal Beneficiary Societies and Domestic Fraternal Societies, Fraternal Beneficiary Societies (501(c)(8)), Domestic Fraternal Societies (501(c)(10)), Local Employees' Associations (501(c)(4)), Voluntary Employees' Beneficiary Associations (501(c)(9)), Supplemental Unemployment Benefit Trusts (501(c)(17)), 501(c)(13) - Cemetery Companies, 501(c)(19) - Veterans' Organizations, 501(c)(20) - Group Legal Services Plan Organizations, 501(c)(2) - Title-Holding Corporations for Single Parent Corporations, 501(c)(25) - Title-Holding Corporations or Trusts for Multiple Parent Corporations 1040, Effect on employees. Www.irs tax form 1040ez for 2012 1065, Annual Information Returns 1120–POL, Political Organization Income Tax Return 1128, Central organizations. Www.irs tax form 1040ez for 2012 2848, Power of attorney. Www.irs tax form 1040ez for 2012 , Representation. Www.irs tax form 1040ez for 2012 4720, Tax on excess expenditures to influence legislation. Www.irs tax form 1040ez for 2012 5578, Certification. Www.irs tax form 1040ez for 2012 5768, Making the election. Www.irs tax form 1040ez for 2012 6069, Tax treatment of donations. Www.irs tax form 1040ez for 2012 8274, FICA tax exemption election. Www.irs tax form 1040ez for 2012 8282, Dispositions of donated property. Www.irs tax form 1040ez for 2012 8283, Form 8283. Www.irs tax form 1040ez for 2012 8300, Report of Cash Received 8718, Forms Required, Power of attorney. Www.irs tax form 1040ez for 2012 8821, Representation. Www.irs tax form 1040ez for 2012 8871, Reporting Requirements for a Political Organization, Annual Information Return 8872, Reporting Requirements for a Political Organization, Annual Information Return 990, Keeping the Group Exemption Letter in Force, Forms 990 and 990-EZ, Annual Information Return, Making the election. Www.irs tax form 1040ez for 2012 990-BL, Annual Information Returns, 990-EZ, Forms 990 and 990-EZ, Form 990-EZ. Www.irs tax form 1040ez for 2012 990-PF, Form 990-PF, Excise taxes on private foundations. Www.irs tax form 1040ez for 2012 , Excise Taxes on Private Foundations 990-T, Unrelated Business Income Tax Return SS-4, Required Inclusions, Employer identification number. Www.irs tax form 1040ez for 2012 W–2, Revoking the election. Www.irs tax form 1040ez for 2012 Fraternal beneficiary society, Fraternal Beneficiary Societies (501(c)(8)) Fraternal societies, Organizations subject to requirements. Www.irs tax form 1040ez for 2012 , 501(c)(8) and 501(c)(10) - Fraternal Beneficiary Societies and Domestic Fraternal Societies Free tax services, Free help with your tax return. Www.irs tax form 1040ez for 2012 Funeral benefit insurance, Burial and funeral benefit insurance organization. Www.irs tax form 1040ez for 2012 G Gifts and contributions, public charity, Gifts, contributions, and grants distinguished from gross receipts. Www.irs tax form 1040ez for 2012 Good faith determinations, What's New, New organization. Www.irs tax form 1040ez for 2012 Governmental unit, Governmental units. Www.irs tax form 1040ez for 2012 Grant Distinguished from gross receipts, Grants. Www.irs tax form 1040ez for 2012 Exclusion for unusual grant, Unusual grants. Www.irs tax form 1040ez for 2012 , Unusual grants. Www.irs tax form 1040ez for 2012 From public charity, Grants from public charities. Www.irs tax form 1040ez for 2012 , Grants from public charities. Www.irs tax form 1040ez for 2012 Grantor and contributor, reliance on ruling, Reliance by grantors and contributors. Www.irs tax form 1040ez for 2012 Gross receipts from nonmembership sources, Gross receipts from nonmembership sources. Www.irs tax form 1040ez for 2012 Group exemption letter, Group Exemption Letter H Health coverage organization, 501(c)(26) - State-Sponsored High-Risk Health Coverage Organizations Help (see Tax help) High-risk health coverage organization, 501(c)(26) - State-Sponsored High-Risk Health Coverage Organizations Home for the aged, Home for the aged. Www.irs tax form 1040ez for 2012 Homeowners' association, Homeowners' associations. Www.irs tax form 1040ez for 2012 Horticultural organization, Agricultural and Horticultural Organizations Hospital, Hospital. Www.irs tax form 1040ez for 2012 , Hospitals and medical research organizations. Www.irs tax form 1040ez for 2012 I Inactive organization, Organizational Changes and Exempt Status Industrial development, Other organizations. Www.irs tax form 1040ez for 2012 Instrumentalities, Instrumentalities. Www.irs tax form 1040ez for 2012 Insurance, organizations providing, Organizations Providing Insurance L Labor organization, Organizations subject to requirements. Www.irs tax form 1040ez for 2012 , Labor Organizations Law, public interest, Public-interest law firms. Www.irs tax form 1040ez for 2012 Legislative activity, Lobbying Expenditures, Legislative activity. Www.irs tax form 1040ez for 2012 Listed transaction, Prohibited tax shelter transaction. Www.irs tax form 1040ez for 2012 Literary organizations, Literary Organizations Loans, organizations providing, Organization providing loans. Www.irs tax form 1040ez for 2012 Lobbying expenditures, Lobbying Expenditures Local benevolent life insurance associations, Local Life Insurance Associations Local employees' association, Local Employees' Associations (501(c)(4)) Lodge system, Lodge system. Www.irs tax form 1040ez for 2012 M Medical research organization, Medical research organization. Www.irs tax form 1040ez for 2012 Medicare and Medicaid payments, Medicare and Medicaid payments. Www.irs tax form 1040ez for 2012 Membership fee, Membership fees. Www.irs tax form 1040ez for 2012 , Membership fees distinguished from gross receipts. Www.irs tax form 1040ez for 2012 Modification of exemption, Revocation or Modification of Exemption Mutual financial organization, 501(c)(14) - Credit Unions and Other Mutual Financial Organizations Mutual or cooperative association, Mutual or Cooperative Associations N Nursing bureau, Community nursing bureau. Www.irs tax form 1040ez for 2012 O One-third support test, One-third support test. Www.irs tax form 1040ez for 2012 Organization assets, Dedication and Distribution of Assets Dedication, Dedication. Www.irs tax form 1040ez for 2012 Distribution, Distribution. Www.irs tax form 1040ez for 2012 Organizational changes, Organizational Changes and Exempt Status P Penalties, Penalties for failure to file. Www.irs tax form 1040ez for 2012 Failure to allow public inspection, Penalties Failure to disclose, Penalty for failure to disclose. Www.irs tax form 1040ez for 2012 , Penalties. Www.irs tax form 1040ez for 2012 , Penalty. Www.irs tax form 1040ez for 2012 Failure to file, Penalties for failure to file. Www.irs tax form 1040ez for 2012 Perpetual care organization, Perpetual care organization. Www.irs tax form 1040ez for 2012 Political activity, Dues Used for Lobbying or Political Activities, Political activity. Www.irs tax form 1040ez for 2012 , Political activity. Www.irs tax form 1040ez for 2012 Political organization Income tax return, Political Organization Income Tax Return Taxable income, Political Organization Income Tax Return Power of attorney, Power of attorney. Www.irs tax form 1040ez for 2012 Preferred stock, Common and preferred stock. Www.irs tax form 1040ez for 2012 Prevention of cruelty to children or animals, Prevention of Cruelty to Children or Animals Private delivery service, Private delivery service. Www.irs tax form 1040ez for 2012 Private foundations, Private Foundations Private operating foundation, Private Operating Foundations Private school, Private Schools, Racially Nondiscriminatory Policy Prohibited tax shelter transactions Entity managers, Entity manager. Www.irs tax form 1040ez for 2012 Entity managers excise tax, Manager Level Tax Listed transaction, Prohibited tax shelter transaction. Www.irs tax form 1040ez for 2012 Prohibited reportable transactions, Prohibited tax shelter transaction. Www.irs tax form 1040ez for 2012 Subsequently listed transaction, Subsequently listed transaction. Www.irs tax form 1040ez for 2012 Tax-exempt entities, Tax-exempt entities. Www.irs tax form 1040ez for 2012 Public charity Gifts and contributions, Gifts, contributions, and grants distinguished from gross receipts. Www.irs tax form 1040ez for 2012 Grant from, Grants from public charities. Www.irs tax form 1040ez for 2012 Section 509(a)(1), Section 509(a)(1) Organizations Section 509(a)(2), Section 509(a)(2) Organizations Section 509(a)(3), Section 509(a)(3) Organizations Section 509(a)(4), Section 509(a)(4) Organizations Support test, One-third support test. Www.irs tax form 1040ez for 2012 , One-third support test. Www.irs tax form 1040ez for 2012 Public inspection Annual return, Annual Information Return Exemption applications, Public Inspection of Exemption Applications, Annual Returns, and Political Organization Reporting Forms Forms 8871 and 8872, Public Inspection of Exemption Applications, Annual Returns, and Political Organization Reporting Forms Public-interest law firm, Public-interest law firms. Www.irs tax form 1040ez for 2012 Publications (see Tax help) Publicly supported organization, Publicly supported organizations. Www.irs tax form 1040ez for 2012 , Qualifying as Publicly Supported Attraction of public support, Attraction of public support requirement. Www.irs tax form 1040ez for 2012 Ten-percent-of-support, Ten-percent-of-support requirement. Www.irs tax form 1040ez for 2012 R Racial composition, How to determine racial composition. Www.irs tax form 1040ez for 2012 Racially nondiscriminatory policy, Racially Nondiscriminatory Policy Real estate board, Real estate board. Www.irs tax form 1040ez for 2012 Recognition of exemption, application, Application for Recognition of Exemption Religious organizations, Religious Organizations Requests other than applications, Miscellaneous Procedures Responsiveness test, Responsiveness test. Www.irs tax form 1040ez for 2012 Revocation of exemption, Revocation or Modification of Exemption Ruling letter, Rulings and Determination Letters S Scholarship Private school, Scholarship and loan programs. Www.irs tax form 1040ez for 2012 Scholarships, Scholarships. Www.irs tax form 1040ez for 2012 School, private, Private Schools Scientific organizations, Scientific Organizations Section 501(c)(3) organizations Amateur athletic, Amateur Athletic Organizations Literary, Literary Organizations Prevention of cruelty, Prevention of Cruelty to Children or Animals Private foundations, Private Foundations and Public Charities Public charities, Public Charities Qualifications, Section 501(c)(3) Organizations Religious, Religious Organizations Scientific, Scientific Organizations Section 501(c)(3) Organizations Charitable, Charitable Organizations Educational, Educational Organizations and Private Schools Single entity, Single entity. Www.irs tax form 1040ez for 2012 Social clubs, Organizations subject to requirements. Www.irs tax form 1040ez for 2012 , 501(c)(7) - Social and Recreation Clubs Social welfare organization, Organizations subject to requirements. Www.irs tax form 1040ez for 2012 , 501(c)(4) - Civic Leagues and Social Welfare Organizations Specified organizations, Specified organizations. Www.irs tax form 1040ez for 2012 Sports organization, amateur, Qualified amateur sports organization. Www.irs tax form 1040ez for 2012 State-sponsored, 501(c)(26) - State-Sponsored High-Risk Health Coverage Organizations High-risk health coverage organization, 501(c)(26) - State-Sponsored High-Risk Health Coverage Organizations Workers' compensation reinsurance organization, 501(c)(27) - Qualified State-Sponsored Workers' Compensation Organizations Stock or commodity exchange, Stock or commodity exchange. Www.irs tax form 1040ez for 2012 Suggestions, Comments and suggestions. Www.irs tax form 1040ez for 2012 Supplemental unemployment benefit trust, Supplemental Unemployment Benefit Trusts (501(c)(17)) Support, Support. Www.irs tax form 1040ez for 2012 , Support from a governmental unit. Www.irs tax form 1040ez for 2012 , Support from the general public. Www.irs tax form 1040ez for 2012 Support test, One-third support test. Www.irs tax form 1040ez for 2012 Facts and circumstances, Facts and circumstances test. Www.irs tax form 1040ez for 2012 One-third, One-third support test. Www.irs tax form 1040ez for 2012 Public charity, One-third support test. Www.irs tax form 1040ez for 2012 Supporting organization, Supporting organization transactions occurring after July 25, 2006. Www.irs tax form 1040ez for 2012 T Tax help, Technical advice, Appeals Office Consideration Testing for public safety, Section 509(a)(4) Organizations Title-holding corporation, 501(c)(2) - Title-Holding Corporations for Single Parent Corporations U Unemployment benefit trust, Supplemental Unemployment Benefit Trusts (501(c)(17)) Unrelated business income, Unrelated Business Income Tax Return Unusual grants, Unusual grants. Www.irs tax form 1040ez for 2012 , Unusual grants. Www.irs tax form 1040ez for 2012 User fee, Power of attorney. Www.irs tax form 1040ez for 2012 , User fee. Www.irs tax form 1040ez for 2012 V Veterans' organization, 501(c)(19) - Veterans' Organizations Voluntary employees' beneficiary association, Voluntary Employees' Beneficiary Associations (501(c)(9)) Volunteer fire company, Volunteer fire companies. Www.irs tax form 1040ez for 2012 W War veterans' organization, 501(c)(19) - Veterans' Organizations Withdrawal of application, Withdrawal of application. Www.irs tax form 1040ez for 2012 Withholding information from public, Requests for withholding of information from the public. Www.irs tax form 1040ez for 2012 Work Opportunity Tax Credit, Expanded Work Opportunity Tax Credit Available for Hiring Qualified Veterans. Www.irs tax form 1040ez for 2012 Workers' compensation reinsurance organization, 501(c)(27) - Qualified State-Sponsored Workers' Compensation Organizations Prev  Up     Home   More Online Publications
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Developer Resources

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APIs

American Job Center Resources APIs
American Job Center partners with O'Net to provide a variety of APIs that are useful for jobseekers.
Style: RESTful APIs
Read the Documentation.

BusinessUSA Resource Access API
BusinessUSA connects businesses to government services and information. The API provides access to resource abstracts including programs, services, data, events, and more.
Style: RESTful API
Return Format: XML, CSV
Read the Documentation.

Citizen Topics API
This API lists the topics that we use to organize content on USA.gov. You can access it via the /tags call to the Social Media Registry.
Style: RESTful API
Return Format: HTML5, JSON, XML
Read the Documentation.

DigitalGov Search API (formerly USASearch)
Provides DigitalGov Search customers with results. This API is only available for use on official government websites. Sign in is required.
Style: RESTful API (requires DigitalGov Search account)
Return Format: JSON, JSONP, XML
Read the Documentation.

Federal Agency Directory API
This API contains directory information about federal agencies, such as contact methods, in English and Spanish.
Style: RESTful API
Return Format: JSON, JSONP, XML
Read the Documentation. Explore the Interactive Documentation.

Go.USA.gov API
Go.USA.gov is a URL shortener for government employees. The API can shorten, preview, and show clicks on short URLs.
Style: RESTful API
Return Format: JSON, JSONP, XML, plain text
Read the Documentation.

Government Jobs API
This API returns job openings across the federal government and includes all current openings posted on USAJobs.gov that are open to the public and located in the United States. It also includes some state and local government jobs.
Style: RESTful API
Return Format: JSON
Read the Documentation.

MyUSA APIs
Project MyUSA re-imagines how citizens interact with government. Use the MyUSA API to build apps that integrate with MyUSA.
Style: RESTful APIs (requires authentication and registration)
Read the Documentation.

Product Recall Data API
This API returns food recalls from FoodSafety.gov, car recalls from the National Highway Traffic Safety Administration, and product safety recalls from the Consumer Product Safety Commission.
Style: RESTful API
Return Format: JSON
Read the Documentation.

Social Media Registry API
The Social Media Registry is an official source of information about federal government social media accounts.
Style: RESTful API
Return Format: HTML5, JSON, XML
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Data Feeds

1.USA.gov Data
1.USA.gov URLs are created whenever anyone shortens a .gov or .mil URL using bitly.
Style: Raw pub/sub feed
Return Format: JSON
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Frequently Asked Questions XML
The contents of our frequently asked questions are available in English and Spanish.
Style: XML data file
Read the Documentation.

List of Non-.gov URLs in Our Search
We search across all federal, state, local, tribal, and territorial government websites. Most government websites end in .gov or .mil, but many do not. This is a list of all government URLs that do not end in .gov or .mil.
Style: TXT file
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RSS Directory
Find feeds from across government.
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The Www.irs Tax Form 1040ez For 2012

Www. Www.irs tax form 1040ez for 2012 irs tax form 1040ez for 2012 13. Www.irs tax form 1040ez for 2012   Basis of Property Table of Contents Introduction Useful Items - You may want to see: Cost BasisReal Property Adjusted BasisIncreases to Basis Decreases to Basis Basis Other Than CostProperty Received for Services Taxable Exchanges Involuntary Conversions Nontaxable Exchanges Property Transferred From a Spouse Property Received as a Gift Inherited Property Property Changed From Personal to Business or Rental Use Stocks and Bonds Introduction This chapter discusses how to figure your basis in property. Www.irs tax form 1040ez for 2012 It is divided into the following sections. Www.irs tax form 1040ez for 2012 Cost basis. Www.irs tax form 1040ez for 2012 Adjusted basis. Www.irs tax form 1040ez for 2012 Basis other than cost. Www.irs tax form 1040ez for 2012 Your basis is the amount of your investment in property for tax purposes. Www.irs tax form 1040ez for 2012 Use the basis to figure gain or loss on the sale, exchange, or other disposition of property. Www.irs tax form 1040ez for 2012 Also use it to figure deductions for depreciation, amortization, depletion, and casualty losses. Www.irs tax form 1040ez for 2012 If you use property for both business or investment purposes and for personal purposes, you must allocate the basis based on the use. Www.irs tax form 1040ez for 2012 Only the basis allocated to the business or investment use of the property can be depreciated. Www.irs tax form 1040ez for 2012 Your original basis in property is adjusted (increased or decreased) by certain events. Www.irs tax form 1040ez for 2012 For example, if you make improvements to the property, increase your basis. Www.irs tax form 1040ez for 2012 If you take deductions for depreciation or casualty losses, or claim certain credits, reduce your basis. Www.irs tax form 1040ez for 2012 Keep accurate records of all items that affect the basis of your property. Www.irs tax form 1040ez for 2012 For more information on keeping records, see chapter 1. Www.irs tax form 1040ez for 2012 Useful Items - You may want to see: Publication 15-B Employer's Tax Guide to Fringe Benefits 525 Taxable and Nontaxable Income 535 Business Expenses 537 Installment Sales 544 Sales and Other Dispositions of Assets 550 Investment Income and Expenses 551 Basis of Assets 946 How To Depreciate Property Cost Basis The basis of property you buy is usually its cost. Www.irs tax form 1040ez for 2012 The cost is the amount you pay in cash, debt obligations, other property, or services. Www.irs tax form 1040ez for 2012 Your cost also includes amounts you pay for the following items: Sales tax, Freight, Installation and testing, Excise taxes, Legal and accounting fees (when they must be capitalized), Revenue stamps, Recording fees, and Real estate taxes (if you assume liability for the seller). Www.irs tax form 1040ez for 2012 In addition, the basis of real estate and business assets may include other items. Www.irs tax form 1040ez for 2012 Loans with low or no interest. Www.irs tax form 1040ez for 2012    If you buy property on a time-payment plan that charges little or no interest, the basis of your property is your stated purchase price minus any amount considered to be unstated interest. Www.irs tax form 1040ez for 2012 You generally have unstated interest if your interest rate is less than the applicable federal rate. Www.irs tax form 1040ez for 2012   For more information, see Unstated Interest and Original Issue Discount (OID) in Publication 537. Www.irs tax form 1040ez for 2012 Real Property Real property, also called real estate, is land and generally anything built on, growing on, or attached to land. Www.irs tax form 1040ez for 2012 If you buy real property, certain fees and other expenses you pay are part of your cost basis in the property. Www.irs tax form 1040ez for 2012 Lump sum purchase. Www.irs tax form 1040ez for 2012   If you buy buildings and the land on which they stand for a lump sum, allocate the cost basis among the land and the buildings. Www.irs tax form 1040ez for 2012 Allocate the cost basis according to the respective fair market values (FMVs) of the land and buildings at the time of purchase. Www.irs tax form 1040ez for 2012 Figure the basis of each asset by multiplying the lump sum by a fraction. Www.irs tax form 1040ez for 2012 The numerator is the FMV of that asset and the denominator is the FMV of the whole property at the time of purchase. Www.irs tax form 1040ez for 2012    If you are not certain of the FMVs of the land and buildings, you can allocate the basis according to their assessed values for real estate tax purposes. Www.irs tax form 1040ez for 2012 Fair market value (FMV). Www.irs tax form 1040ez for 2012   FMV is the price at which the 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 necessary facts. Www.irs tax form 1040ez for 2012 Sales of similar property on or about the same date may be helpful in figuring the FMV of the property. Www.irs tax form 1040ez for 2012 Assumption of mortgage. Www.irs tax form 1040ez for 2012   If you buy property and assume (or buy the property subject to) an existing mortgage on the property, your basis includes the amount you pay for the property plus the amount to be paid on the mortgage. Www.irs tax form 1040ez for 2012 Settlement costs. Www.irs tax form 1040ez for 2012   Your basis includes the settlement fees and closing costs you paid for buying the property. Www.irs tax form 1040ez for 2012 (A fee for buying property is a cost that must be paid even if you buy the property for cash. Www.irs tax form 1040ez for 2012 ) Do not include fees and costs for getting a loan on the property in your basis. Www.irs tax form 1040ez for 2012   The following are some of the settlement fees or closing costs you can include in the basis of your property. Www.irs tax form 1040ez for 2012 Abstract fees (abstract of title fees). Www.irs tax form 1040ez for 2012 Charges for installing utility services. Www.irs tax form 1040ez for 2012 Legal fees (including fees for the title search and preparation of the sales contract and deed). Www.irs tax form 1040ez for 2012 Recording fees. Www.irs tax form 1040ez for 2012 Survey fees. Www.irs tax form 1040ez for 2012 Transfer taxes. Www.irs tax form 1040ez for 2012 Owner's title insurance. Www.irs tax form 1040ez for 2012 Any amounts the seller owes that you agree to pay, such as back taxes or interest, recording or mortgage fees, charges for improvements or repairs, and sales commissions. Www.irs tax form 1040ez for 2012   Settlement costs do not include amounts placed in escrow for the future payment of items such as taxes and insurance. Www.irs tax form 1040ez for 2012   The following are some of the settlement fees and closing costs you cannot include in the basis of property. Www.irs tax form 1040ez for 2012 Casualty insurance premiums. Www.irs tax form 1040ez for 2012 Rent for occupancy of the property before closing. Www.irs tax form 1040ez for 2012 Charges for utilities or other services related to occupancy of the property before closing. Www.irs tax form 1040ez for 2012 Charges connected with getting a loan, such as points (discount points, loan origination fees), mortgage insurance premiums, loan assumption fees, cost of a credit report, and fees for an appraisal required by a lender. Www.irs tax form 1040ez for 2012 Fees for refinancing a mortgage. Www.irs tax form 1040ez for 2012 Real estate taxes. Www.irs tax form 1040ez for 2012   If you pay real estate taxes the seller owed on real property you bought, and the seller did not reimburse you, treat those taxes as part of your basis. Www.irs tax form 1040ez for 2012 You cannot deduct them as an expense. Www.irs tax form 1040ez for 2012    If you reimburse the seller for taxes the seller paid for you, you can usually deduct that amount as an expense in the year of purchase. Www.irs tax form 1040ez for 2012 Do not include that amount in the basis of your property. Www.irs tax form 1040ez for 2012 If you did not reimburse the seller, you must reduce your basis by the amount of those taxes. Www.irs tax form 1040ez for 2012 Points. Www.irs tax form 1040ez for 2012   If you pay points to get a loan (including a mortgage, second mortgage, line of credit, or a home equity loan), do not add the points to the basis of the related property. Www.irs tax form 1040ez for 2012 Generally, you deduct the points over the term of the loan. Www.irs tax form 1040ez for 2012 For more information on how to deduct points, see chapter 23. Www.irs tax form 1040ez for 2012 Points on home mortgage. Www.irs tax form 1040ez for 2012   Special rules may apply to points you and the seller pay when you get a mortgage to buy your main home. Www.irs tax form 1040ez for 2012 If certain requirements are met, you can deduct the points in full for the year in which they are paid. Www.irs tax form 1040ez for 2012 Reduce the basis of your home by any seller-paid points. Www.irs tax form 1040ez for 2012 Adjusted Basis Before figuring gain or loss on a sale, exchange, or other disposition of property or figuring allowable depreciation, depletion, or amortization, you must usually make certain adjustments (increases and decreases) to the cost basis or basis other than cost (discussed later) of the property. Www.irs tax form 1040ez for 2012 The result is the adjusted basis. Www.irs tax form 1040ez for 2012 Increases to Basis Increase the basis of any property by all items properly added to a capital account. Www.irs tax form 1040ez for 2012 Examples of items that increase basis are shown in Table 13-1. Www.irs tax form 1040ez for 2012 These include the items discussed below. Www.irs tax form 1040ez for 2012 Improvements. Www.irs tax form 1040ez for 2012   Add to your basis in property the cost of improvements having a useful life of more than 1 year, that increase the value of the property, lengthen its life, or adapt it to a different use. Www.irs tax form 1040ez for 2012 For example, improvements include putting a recreation room in your unfinished basement, adding another bathroom or bedroom, putting up a fence, putting in new plumbing or wiring, installing a new roof, or paving your driveway. Www.irs tax form 1040ez for 2012 Assessments for local improvements. Www.irs tax form 1040ez for 2012   Add to the basis of property assessments for improvements such as streets and sidewalks if they increase the value of the property assessed. Www.irs tax form 1040ez for 2012 Do not deduct them as taxes. Www.irs tax form 1040ez for 2012 However, you can deduct as taxes assessments for maintenance or repairs, or for meeting interest charges related to the improvements. Www.irs tax form 1040ez for 2012 Example. Www.irs tax form 1040ez for 2012 Your city changes the street in front of your store into an enclosed pedestrian mall and assesses you and other affected property owners for the cost of the conversion. Www.irs tax form 1040ez for 2012 Add the assessment to your property's basis. Www.irs tax form 1040ez for 2012 In this example, the assessment is a depreciable asset. Www.irs tax form 1040ez for 2012 Decreases to Basis Decrease the basis of any property by all items that represent a return of capital for the period during which you held the property. Www.irs tax form 1040ez for 2012 Examples of items that decrease basis are shown in Table 13-1. Www.irs tax form 1040ez for 2012 These include the items discussed below. Www.irs tax form 1040ez for 2012 Table 13-1. Www.irs tax form 1040ez for 2012 Examples of Adjustments to Basis Increases to Basis Decreases to Basis • Capital improvements: • Exclusion from income of   Putting an addition on your home subsidies for energy conservation   Replacing an entire roof measures   Paving your driveway     Installing central air conditioning • Casualty or theft loss deductions   Rewiring your home and insurance reimbursements       • Assessments for local improvements:     Water connections     Extending utility service lines to the property • Postponed gain from the sale of a home   Sidewalks • Alternative motor vehicle credit  (Form 8910)   Roads       • Alternative fuel vehicle refueling     property credit (Form 8911)           • Residential energy credits (Form 5695)       • Casualty losses: • Depreciation and section 179 deduction   Restoring damaged property     • Nontaxable corporate distributions • Legal fees:     Cost of defending and perfecting a title • Certain canceled debt excluded from   Fees for getting a reduction of an assessment income     • Zoning costs • Easements           • Adoption tax benefits Casualty and theft losses. Www.irs tax form 1040ez for 2012   If you have a casualty or theft loss, decrease the basis in your property by any insurance proceeds or other reimbursement and by any deductible loss not covered by insurance. Www.irs tax form 1040ez for 2012    You must increase your basis in the property by the amount you spend on repairs that restore the property to its pre-casualty condition. Www.irs tax form 1040ez for 2012   For more information on casualty and theft losses, see chapter 25. Www.irs tax form 1040ez for 2012 Depreciation and section 179 deduction. Www.irs tax form 1040ez for 2012   Decrease the basis of your qualifying business property by any section 179 deduction you take and the depreciation you deducted, or could have deducted (including any special depreciation allowance), on your tax returns under the method of depreciation you selected. Www.irs tax form 1040ez for 2012   For more information about depreciation and the section 179 deduction, see Publication 946 and the Instructions for Form 4562. Www.irs tax form 1040ez for 2012 Example. Www.irs tax form 1040ez for 2012 You owned a duplex used as rental property that cost you $40,000, of which $35,000 was allocated to the building and $5,000 to the land. Www.irs tax form 1040ez for 2012 You added an improvement to the duplex that cost $10,000. Www.irs tax form 1040ez for 2012 In February last year, the duplex was damaged by fire. Www.irs tax form 1040ez for 2012 Up to that time, you had been allowed depreciation of $23,000. Www.irs tax form 1040ez for 2012 You sold some salvaged material for $1,300 and collected $19,700 from your insurance company. Www.irs tax form 1040ez for 2012 You deducted a casualty loss of $1,000 on your income tax return for last year. Www.irs tax form 1040ez for 2012 You spent $19,000 of the insurance proceeds for restoration of the duplex, which was completed this year. Www.irs tax form 1040ez for 2012 You must use the duplex's adjusted basis after the restoration to determine depreciation for the rest of the property's recovery period. Www.irs tax form 1040ez for 2012 Figure the adjusted basis of the duplex as follows: Original cost of duplex $35,000 Addition to duplex 10,000 Total cost of duplex $45,000 Minus: Depreciation 23,000 Adjusted basis before casualty $22,000 Minus: Insurance proceeds $19,700     Deducted casualty loss 1,000     Salvage proceeds 1,300 22,000 Adjusted basis after casualty $-0- Add: Cost of restoring duplex 19,000 Adjusted basis after restoration $19,000 Note. Www.irs tax form 1040ez for 2012 Your basis in the land is its original cost of $5,000. Www.irs tax form 1040ez for 2012 Easements. Www.irs tax form 1040ez for 2012   The amount you receive for granting an easement is generally considered to be proceeds from the sale of an interest in real property. Www.irs tax form 1040ez for 2012 It reduces the basis of the affected part of the property. Www.irs tax form 1040ez for 2012 If the amount received is more than the basis of the part of the property affected by the easement, reduce your basis in that part to zero and treat the excess as a recognized gain. Www.irs tax form 1040ez for 2012   If the gain is on a capital asset, see chapter 16 for information about how to report it. Www.irs tax form 1040ez for 2012 If the gain is on property used in a trade or business, see Publication 544 for information about how to report it. Www.irs tax form 1040ez for 2012 Exclusion of subsidies for energy conservation measures. Www.irs tax form 1040ez for 2012   You can exclude from gross income any subsidy you received from a public utility company for the purchase or installation of an energy conservation measure for a dwelling unit. Www.irs tax form 1040ez for 2012 Reduce the basis of the property for which you received the subsidy by the excluded amount. Www.irs tax form 1040ez for 2012 For more information about this subsidy, see chapter 12. Www.irs tax form 1040ez for 2012 Postponed gain from sale of home. Www.irs tax form 1040ez for 2012    If you postponed gain from the sale of your main home under rules in effect before May 7, 1997, you must reduce the basis of the home you acquired as a replacement by the amount of the postponed gain. Www.irs tax form 1040ez for 2012 For more information on the rules for the sale of a home, see chapter 15. Www.irs tax form 1040ez for 2012 Basis Other Than Cost There are many times when you cannot use cost as basis. Www.irs tax form 1040ez for 2012 In these cases, the fair market value or the adjusted basis of the property can be used. Www.irs tax form 1040ez for 2012 Fair market value (FMV) and adjusted basis were discussed earlier. Www.irs tax form 1040ez for 2012 Property Received for Services If you receive property for your services, include the FMV of the property in income. Www.irs tax form 1040ez for 2012 The amount you include in income becomes your basis. Www.irs tax form 1040ez for 2012 If the services were performed for a price agreed on beforehand, it will be accepted as the FMV of the property if there is no evidence to the contrary. Www.irs tax form 1040ez for 2012 Restricted property. Www.irs tax form 1040ez for 2012   If you receive property for your services and the property is subject to certain restrictions, your basis in the property is its FMV when it becomes substantially vested. Www.irs tax form 1040ez for 2012 However, this rule does not apply if you make an election to include in income the FMV of the property at the time it is transferred to you, less any amount you paid for it. Www.irs tax form 1040ez for 2012 Property is substantially vested when it is transferable or when it is not subject to a substantial risk of forfeiture (you do not have a good chance of losing it). Www.irs tax form 1040ez for 2012 For more information, see Restricted Property in Publication 525. Www.irs tax form 1040ez for 2012 Bargain purchases. Www.irs tax form 1040ez for 2012   A bargain purchase is a purchase of an item for less than its FMV. Www.irs tax form 1040ez for 2012 If, as compensation for services, you buy goods or other property at less than FMV, include the difference between the purchase price and the property's FMV in your income. Www.irs tax form 1040ez for 2012 Your basis in the property is its FMV (your purchase price plus the amount you include in income). Www.irs tax form 1040ez for 2012   If the difference between your purchase price and the FMV is a qualified employee discount, do not include the difference in income. Www.irs tax form 1040ez for 2012 However, your basis in the property is still its FMV. Www.irs tax form 1040ez for 2012 See Employee Discounts in Publication 15-B. Www.irs tax form 1040ez for 2012 Taxable Exchanges A taxable exchange is one in which the gain is taxable or the loss is deductible. Www.irs tax form 1040ez for 2012 A taxable gain or deductible loss also is known as a recognized gain or loss. Www.irs tax form 1040ez for 2012 If you receive property in exchange for other property in a taxable exchange, the basis of the property you receive is usually its FMV at the time of the exchange. Www.irs tax form 1040ez for 2012 Involuntary Conversions If you receive replacement property as a result of an involuntary conversion, such as a casualty, theft, or condemnation, figure the basis of the replacement property using the basis of the converted property. Www.irs tax form 1040ez for 2012 Similar or related property. Www.irs tax form 1040ez for 2012   If you receive replacement property similar or related in service or use to the converted property, the replacement property's basis is the same as the converted property's basis on the date of the conversion, with the following adjustments. Www.irs tax form 1040ez for 2012 Decrease the basis by the following. Www.irs tax form 1040ez for 2012 Any loss you recognize on the involuntary conversion. Www.irs tax form 1040ez for 2012 Any money you receive that you do not spend on similar property. Www.irs tax form 1040ez for 2012 Increase the basis by the following. Www.irs tax form 1040ez for 2012 Any gain you recognize on the involuntary conversion. Www.irs tax form 1040ez for 2012 Any cost of acquiring the replacement property. Www.irs tax form 1040ez for 2012 Money or property not similar or related. Www.irs tax form 1040ez for 2012    If you receive money or property not similar or related in service or use to the converted property, and you buy replacement property similar or related in service or use to the converted property, the basis of the replacement property is its cost decreased by the gain not recognized on the conversion. Www.irs tax form 1040ez for 2012 Example. Www.irs tax form 1040ez for 2012 The state condemned your property. Www.irs tax form 1040ez for 2012 The adjusted basis of the property was $26,000 and the state paid you $31,000 for it. Www.irs tax form 1040ez for 2012 You realized a gain of $5,000 ($31,000 − $26,000). Www.irs tax form 1040ez for 2012 You bought replacement property similar in use to the converted property for $29,000. Www.irs tax form 1040ez for 2012 You recognize a gain of $2,000 ($31,000 − $29,000), the unspent part of the payment from the state. Www.irs tax form 1040ez for 2012 Your unrecognized gain is $3,000, the difference between the $5,000 realized gain and the $2,000 recognized gain. Www.irs tax form 1040ez for 2012 The basis of the replacement property is figured as follows: Cost of replacement property $29,000 Minus: Gain not recognized 3,000 Basis of replacement property $26,000 Allocating the basis. Www.irs tax form 1040ez for 2012   If you buy more than one piece of replacement property, allocate your basis among the properties based on their respective costs. Www.irs tax form 1040ez for 2012 Basis for depreciation. Www.irs tax form 1040ez for 2012   Special rules apply in determining and depreciating the basis of MACRS property acquired in an involuntary conversion. Www.irs tax form 1040ez for 2012 For information, see What Is the Basis of Your Depreciable Property? in chapter 1 of Publication 946. Www.irs tax form 1040ez for 2012 Nontaxable Exchanges A nontaxable exchange is an exchange in which you are not taxed on any gain and you cannot deduct any loss. Www.irs tax form 1040ez for 2012 If you receive property in a nontaxable exchange, its basis is generally the same as the basis of the property you transferred. Www.irs tax form 1040ez for 2012 See Nontaxable Trades in chapter 14. Www.irs tax form 1040ez for 2012 Like-Kind Exchanges The exchange of property for the same kind of property is the most common type of nontaxable exchange. Www.irs tax form 1040ez for 2012 To qualify as a like-kind exchange, the property traded and the property received must be both of the following. Www.irs tax form 1040ez for 2012 Qualifying property. Www.irs tax form 1040ez for 2012 Like-kind property. Www.irs tax form 1040ez for 2012 The basis of the property you receive is generally the same as the adjusted basis of the property you gave up. Www.irs tax form 1040ez for 2012 If you trade property in a like-kind exchange and also pay money, the basis of the property received is the adjusted basis of the property you gave up increased by the money you paid. Www.irs tax form 1040ez for 2012 Qualifying property. Www.irs tax form 1040ez for 2012   In a like-kind exchange, you must hold for investment or for productive use in your trade or business both the property you give up and the property you receive. Www.irs tax form 1040ez for 2012 Like-kind property. Www.irs tax form 1040ez for 2012   There must be an exchange of like-kind property. Www.irs tax form 1040ez for 2012 Like-kind properties are properties of the same nature or character, even if they differ in grade or quality. Www.irs tax form 1040ez for 2012 The exchange of real estate for real estate and personal property for similar personal property are exchanges of like-kind property. Www.irs tax form 1040ez for 2012 Example. Www.irs tax form 1040ez for 2012 You trade in an old truck used in your business with an adjusted basis of $1,700 for a new one costing $6,800. Www.irs tax form 1040ez for 2012 The dealer allows you $2,000 on the old truck, and you pay $4,800. Www.irs tax form 1040ez for 2012 This is a like-kind exchange. Www.irs tax form 1040ez for 2012 The basis of the new truck is $6,500 (the adjusted basis of the old one, $1,700, plus the amount you paid, $4,800). Www.irs tax form 1040ez for 2012 If you sell your old truck to a third party for $2,000 instead of trading it in and then buy a new one from the dealer, you have a taxable gain of $300 on the sale (the $2,000 sale price minus the $1,700 adjusted basis). Www.irs tax form 1040ez for 2012 The basis of the new truck is the price you pay the dealer. Www.irs tax form 1040ez for 2012 Partially nontaxable exchanges. Www.irs tax form 1040ez for 2012   A partially nontaxable exchange is an exchange in which you receive unlike property or money in addition to like-kind property. Www.irs tax form 1040ez for 2012 The basis of the property you receive is the same as the adjusted basis of the property you gave up, with the following adjustments. Www.irs tax form 1040ez for 2012 Decrease the basis by the following amounts. Www.irs tax form 1040ez for 2012 Any money you receive. Www.irs tax form 1040ez for 2012 Any loss you recognize on the exchange. Www.irs tax form 1040ez for 2012 Increase the basis by the following amounts. Www.irs tax form 1040ez for 2012 Any additional costs you incur. Www.irs tax form 1040ez for 2012 Any gain you recognize on the exchange. Www.irs tax form 1040ez for 2012 If the other party to the exchange assumes your liabilities, treat the debt assumption as money you received in the exchange. Www.irs tax form 1040ez for 2012 Allocation of basis. Www.irs tax form 1040ez for 2012   If you receive like-kind and unlike properties in the exchange, allocate the basis first to the unlike property, other than money, up to its FMV on the date of the exchange. Www.irs tax form 1040ez for 2012 The rest is the basis of the like-kind property. Www.irs tax form 1040ez for 2012 More information. Www.irs tax form 1040ez for 2012   See Like-Kind Exchanges in chapter 1 of Publication 544 for more information. Www.irs tax form 1040ez for 2012 Basis for depreciation. Www.irs tax form 1040ez for 2012   Special rules apply in determining and depreciating the basis of MACRS property acquired in a like-kind exchange. Www.irs tax form 1040ez for 2012 For information, see What Is the Basis of Your Depreciable Property? in chapter 1 of Publication 946. Www.irs tax form 1040ez for 2012 Property Transferred From a Spouse The basis of property transferred to you or transferred in trust for your benefit by your spouse is the same as your spouse's adjusted basis. Www.irs tax form 1040ez for 2012 The same rule applies to a transfer by your former spouse that is incident to divorce. Www.irs tax form 1040ez for 2012 However, for property transferred in trust, adjust your basis for any gain recognized by your spouse or former spouse if the liabilities assumed, plus the liabilities to which the property is subject, are more than the adjusted basis of the property transferred. Www.irs tax form 1040ez for 2012 If the property transferred to you is a series E, series EE, or series I U. Www.irs tax form 1040ez for 2012 S. Www.irs tax form 1040ez for 2012 savings bond, the transferor must include in income the interest accrued to the date of transfer. Www.irs tax form 1040ez for 2012 Your basis in the bond immediately after the transfer is equal to the transferor's basis increased by the interest income includible in the transferor's income. Www.irs tax form 1040ez for 2012 For more information on these bonds, see chapter 7. Www.irs tax form 1040ez for 2012 At the time of the transfer, the transferor must give you the records needed to determine the adjusted basis and holding period of the property as of the date of the transfer. Www.irs tax form 1040ez for 2012 For more information about the transfer of property from a spouse, see chapter 14. Www.irs tax form 1040ez for 2012 Property Received as a Gift To figure the basis of property you receive as a gift, you must know its adjusted basis to the donor just before it was given to you, its FMV at the time it was given to you, and any gift tax paid on it. Www.irs tax form 1040ez for 2012 FMV less than donor's adjusted basis. Www.irs tax form 1040ez for 2012   If the FMV of the property at the time of the gift is less than the donor's adjusted basis, your basis depends on whether you have a gain or a loss when you dispose of the property. Www.irs tax form 1040ez for 2012 Your basis for figuring gain is the same as the donor's adjusted basis plus or minus any required adjustments to basis while you held the property. Www.irs tax form 1040ez for 2012 Your basis for figuring loss is its FMV when you received the gift plus or minus any required adjustments to basis while you held the property. Www.irs tax form 1040ez for 2012 See Adjusted Basis , earlier. Www.irs tax form 1040ez for 2012 Example. Www.irs tax form 1040ez for 2012 You received an acre of land as a gift. Www.irs tax form 1040ez for 2012 At the time of the gift, the land had an FMV of $8,000. Www.irs tax form 1040ez for 2012 The donor's adjusted basis was $10,000. Www.irs tax form 1040ez for 2012 After you received the property, no events occurred to increase or decrease your basis. Www.irs tax form 1040ez for 2012 If you later sell the property for $12,000, you will have a $2,000 gain because you must use the donor's adjusted basis at the time of the gift ($10,000) as your basis to figure gain. Www.irs tax form 1040ez for 2012 If you sell the property for $7,000, you will have a $1,000 loss because you must use the FMV at the time of the gift ($8,000) as your basis to figure loss. Www.irs tax form 1040ez for 2012 If the sales price is between $8,000 and $10,000, you have neither gain nor loss. Www.irs tax form 1040ez for 2012 Business property. Www.irs tax form 1040ez for 2012   If you hold the gift as business property, your basis for figuring any depreciation, depletion, or amortization deductions is the same as the donor's adjusted basis plus or minus any required adjustments to basis while you hold the property. Www.irs tax form 1040ez for 2012 FMV equal to or greater than donor's adjusted basis. Www.irs tax form 1040ez for 2012   If the FMV of the property is equal to or greater than the donor's adjusted basis, your basis is the donor's adjusted basis at the time you received the gift. Www.irs tax form 1040ez for 2012 Increase your basis by all or part of any gift tax paid, depending on the date of the gift, explained later. Www.irs tax form 1040ez for 2012   Also, for figuring gain or loss from a sale or other disposition or for figuring depreciation, depletion, or amortization deductions on business property, you must increase or decrease your basis (the donor's adjusted basis) by any required adjustments to basis while you held the property. Www.irs tax form 1040ez for 2012 See Adjusted Basis , earlier. Www.irs tax form 1040ez for 2012   If you received a gift during the tax year, increase your basis in the gift (the donor's adjusted basis) by the part of the gift tax paid on it due to the net increase in value of the gift. Www.irs tax form 1040ez for 2012 Figure the increase by multiplying the gift tax paid by a fraction. Www.irs tax form 1040ez for 2012 The numerator of the fraction is the net increase in value of the gift and the denominator is the amount of the gift. Www.irs tax form 1040ez for 2012   The net increase in value of the gift is the FMV of the gift minus the donor's adjusted basis. Www.irs tax form 1040ez for 2012 The amount of the gift is its value for gift tax purposes after reduction by any annual exclusion and marital or charitable deduction that applies to the gift. Www.irs tax form 1040ez for 2012 Example. Www.irs tax form 1040ez for 2012 In 2013, you received a gift of property from your mother that had an FMV of $50,000. Www.irs tax form 1040ez for 2012 Her adjusted basis was $20,000. Www.irs tax form 1040ez for 2012 The amount of the gift for gift tax purposes was $36,000 ($50,000 minus the $14,000 annual exclusion). Www.irs tax form 1040ez for 2012 She paid a gift tax of $7,320 on the property. Www.irs tax form 1040ez for 2012 Your basis is $26,076, figured as follows: Fair market value $50,000 Minus: Adjusted basis −20,000 Net increase in value $30,000     Gift tax paid $7,320 Multiplied by ($30,000 ÷ $36,000) × . Www.irs tax form 1040ez for 2012 83 Gift tax due to net increase in value $6,076 Adjusted basis of property to your mother +20,000 Your basis in the property $26,076 Note. Www.irs tax form 1040ez for 2012 If you received a gift before 1977, your basis in the gift (the donor's adjusted basis) includes any gift tax paid on it. Www.irs tax form 1040ez for 2012 However, your basis cannot exceed the FMV of the gift at the time it was given to you. Www.irs tax form 1040ez for 2012 Inherited Property Your basis in property you inherited from a decedent, who died before January 1, 2010, or after December 31, 2010, is generally one of the following: The FMV of the property at the date of the decedent's death. Www.irs tax form 1040ez for 2012 The FMV on the alternate valuation date if the personal representative for the estate elects to use alternate valuation. Www.irs tax form 1040ez for 2012 The value under the special-use valuation method for real property used in farming or a closely held business if elected for estate tax purposes. Www.irs tax form 1040ez for 2012 The decedent's adjusted basis in land to the extent of the value excluded from the decedent's taxable estate as a qualified conservation easement. Www.irs tax form 1040ez for 2012 If a federal estate tax return does not have to be filed, your basis in the inherited property is its appraised value at the date of death for state inheritance or transmission taxes. Www.irs tax form 1040ez for 2012 For more information, see the instructions to Form 706, United States Estate (and Generation-Skipping Transfer) Tax Return. Www.irs tax form 1040ez for 2012 Property inherited from a decedent who died in 2010. Www.irs tax form 1040ez for 2012   If you inherited property from a decedent who died in 2010, special rules may apply. Www.irs tax form 1040ez for 2012 For more information, see Publication 4895, Tax Treatment of Property Acquired From a Decedent Dying in 2010. Www.irs tax form 1040ez for 2012 Community property. Www.irs tax form 1040ez for 2012   In community property states (Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin), husband and wife are each usually considered to own half the community property. Www.irs tax form 1040ez for 2012 When either spouse dies, the total value of the community property, even the part belonging to the surviving spouse, generally becomes the basis of the entire property. Www.irs tax form 1040ez for 2012 For this rule to apply, at least half the value of the community property interest must be includible in the decedent's gross estate, whether or not the estate must file a return. Www.irs tax form 1040ez for 2012 Example. Www.irs tax form 1040ez for 2012 You and your spouse owned community property that had a basis of $80,000. Www.irs tax form 1040ez for 2012 When your spouse died, half the FMV of the community interest was includible in your spouse's estate. Www.irs tax form 1040ez for 2012 The FMV of the community interest was $100,000. Www.irs tax form 1040ez for 2012 The basis of your half of the property after the death of your spouse is $50,000 (half of the $100,000 FMV). Www.irs tax form 1040ez for 2012 The basis of the other half to your spouse's heirs is also $50,000. Www.irs tax form 1040ez for 2012 For more information about community property, see Publication 555, Community Property. Www.irs tax form 1040ez for 2012 Property Changed From Personal to Business or Rental Use If you hold property for personal use and then change it to business use or use it to produce rent, you can begin to depreciate the property at the time of the change. Www.irs tax form 1040ez for 2012 To do so, you must figure its basis for depreciation at the time of the change. Www.irs tax form 1040ez for 2012 An example of changing property held for personal use to business or rental use would be renting out your former personal residence. Www.irs tax form 1040ez for 2012 Basis for depreciation. Www.irs tax form 1040ez for 2012   The basis for depreciation is the lesser of the following amounts. Www.irs tax form 1040ez for 2012 The FMV of the property on the date of the change. Www.irs tax form 1040ez for 2012 Your adjusted basis on the date of the change. Www.irs tax form 1040ez for 2012 Example. Www.irs tax form 1040ez for 2012 Several years ago, you paid $160,000 to have your house built on a lot that cost $25,000. Www.irs tax form 1040ez for 2012 You paid $20,000 for permanent improvements to the house and claimed a $2,000 casualty loss deduction for damage to the house before changing the property to rental use last year. Www.irs tax form 1040ez for 2012 Because land is not depreciable, you include only the cost of the house when figuring the basis for depreciation. Www.irs tax form 1040ez for 2012 Your adjusted basis in the house when you changed its use was $178,000 ($160,000 + $20,000 − $2,000). Www.irs tax form 1040ez for 2012 On the same date, your property had an FMV of $180,000, of which $15,000 was for the land and $165,000 was for the house. Www.irs tax form 1040ez for 2012 The basis for figuring depreciation on the house is its FMV on the date of the change ($165,000) because it is less than your adjusted basis ($178,000). Www.irs tax form 1040ez for 2012 Sale of property. Www.irs tax form 1040ez for 2012   If you later sell or dispose of property changed to business or rental use, the basis you use will depend on whether you are figuring gain or loss. Www.irs tax form 1040ez for 2012 Gain. Www.irs tax form 1040ez for 2012   The basis for figuring a gain is your adjusted basis in the property when you sell the property. Www.irs tax form 1040ez for 2012 Example. Www.irs tax form 1040ez for 2012 Assume the same facts as in the previous example except that you sell the property at a gain after being allowed depreciation deductions of $37,500. Www.irs tax form 1040ez for 2012 Your adjusted basis for figuring gain is $165,500 ($178,000 + $25,000 (land) − $37,500). Www.irs tax form 1040ez for 2012 Loss. Www.irs tax form 1040ez for 2012   Figure the basis for a loss starting with the smaller of your adjusted basis or the FMV of the property at the time of the change to business or rental use. Www.irs tax form 1040ez for 2012 Then make adjustments (increases and decreases) for the period after the change in the property's use, as discussed earlier under Adjusted Basis . Www.irs tax form 1040ez for 2012 Example. Www.irs tax form 1040ez for 2012 Assume the same facts as in the previous example, except that you sell the property at a loss after being allowed depreciation deductions of $37,500. Www.irs tax form 1040ez for 2012 In this case, you would start with the FMV on the date of the change to rental use ($180,000), because it is less than the adjusted basis of $203,000 ($178,000 + $25,000 (land)) on that date. Www.irs tax form 1040ez for 2012 Reduce that amount ($180,000) by the depreciation deductions ($37,500). Www.irs tax form 1040ez for 2012 The basis for loss is $142,500 ($180,000 − $37,500). Www.irs tax form 1040ez for 2012 Stocks and Bonds The basis of stocks or bonds you buy generally is the purchase price plus any costs of purchase, such as commissions and recording or transfer fees. Www.irs tax form 1040ez for 2012 If you get stocks or bonds other than by purchase, your basis is usually determined by the FMV or the previous owner's adjusted basis, as discussed earlier. Www.irs tax form 1040ez for 2012 You must adjust the basis of stocks for certain events that occur after purchase. Www.irs tax form 1040ez for 2012 For example, if you receive additional stock from nontaxable stock dividends or stock splits, reduce your basis for each share of stock by dividing the adjusted basis of the old stock by the number of shares of old and new stock. Www.irs tax form 1040ez for 2012 This rule applies only when the additional stock received is identical to the stock held. Www.irs tax form 1040ez for 2012 Also reduce your basis when you receive nontaxable distributions. Www.irs tax form 1040ez for 2012 They are a return of capital. Www.irs tax form 1040ez for 2012 Example. Www.irs tax form 1040ez for 2012 In 2011 you bought 100 shares of XYZ stock for $1,000 or $10 a share. Www.irs tax form 1040ez for 2012 In 2012 you bought 100 shares of XYZ stock for $1,600 or $16 a share. Www.irs tax form 1040ez for 2012 In 2013 XYZ declared a 2-for-1 stock split. Www.irs tax form 1040ez for 2012 You now have 200 shares of stock with a basis of $5 a share and 200 shares with a basis of $8 a share. Www.irs tax form 1040ez for 2012 Other basis. Www.irs tax form 1040ez for 2012   There are other ways to figure the basis of stocks or bonds depending on how you acquired them. Www.irs tax form 1040ez for 2012 For detailed information, see Stocks and Bonds under Basis of Investment Property in chapter 4 of Publication 550. Www.irs tax form 1040ez for 2012 Identifying stocks or bonds sold. Www.irs tax form 1040ez for 2012   If you can adequately identify the shares of stock or the bonds you sold, their basis is the cost or other basis of the particular shares of stocks or bonds. Www.irs tax form 1040ez for 2012 If you buy and sell securities at various times in varying quantities and you cannot adequately identify the shares you sell, the basis of the securities you sell is the basis of the securities you acquired first. Www.irs tax form 1040ez for 2012 For more information about identifying securities you sell, see Stocks and Bonds under Basis of Investment Property in chapter 4 of Publication 550. Www.irs tax form 1040ez for 2012 Mutual fund shares. Www.irs tax form 1040ez for 2012   If you sell mutual fund shares you acquired at various times and prices and left on deposit in an account kept by a custodian or agent, you can elect to use an average basis. Www.irs tax form 1040ez for 2012 For more information, see Publication 550. Www.irs tax form 1040ez for 2012 Bond premium. Www.irs tax form 1040ez for 2012   If you buy a taxable bond at a premium and elect to amortize the premium, reduce the basis of the bond by the amortized premium you deduct each year. Www.irs tax form 1040ez for 2012 See Bond Premium Amortization in chapter 3 of Publication 550 for more information. Www.irs tax form 1040ez for 2012 Although you cannot deduct the premium on a tax-exempt bond, you must amortize the premium each year and reduce your basis in the bond by the amortized amount. Www.irs tax form 1040ez for 2012 Original issue discount (OID) on debt instruments. Www.irs tax form 1040ez for 2012   You must increase your basis in an OID debt instrument by the OID you include in income for that instrument. Www.irs tax form 1040ez for 2012 See Original Issue Discount (OID) in chapter 7 and Publication 1212, Guide To Original Issue Discount (OID) Instruments. Www.irs tax form 1040ez for 2012 Tax-exempt obligations. Www.irs tax form 1040ez for 2012    OID on tax-exempt obligations is generally not taxable. Www.irs tax form 1040ez for 2012 However, when you dispose of a tax-exempt obligation issued after September 3, 1982, and acquired after March 1, 1984, you must accrue OID on the obligation to determine its adjusted basis. Www.irs tax form 1040ez for 2012 The accrued OID is added to the basis of the obligation to determine your gain or loss. Www.irs tax form 1040ez for 2012 See chapter 4 of Publication 550. Www.irs tax form 1040ez for 2012 Prev  Up  Next   Home   More Online Publications