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Filing Taxes 2014

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Filing Taxes 2014

Filing taxes 2014 25. Filing taxes 2014   Nonbusiness Casualty and Theft Losses Table of Contents What's New Introduction Useful Items - You may want to see: CasualtyFamily pet. Filing taxes 2014 Progressive deterioration. Filing taxes 2014 Damage from corrosive drywall. Filing taxes 2014 Theft Loss on Deposits Proof of Loss Figuring a LossDecrease in Fair Market Value Adjusted Basis Insurance and Other Reimbursements Single Casualty on Multiple Properties Deduction Limits$100 Rule 10% Rule When To Report Gains and LossesDisaster Area Loss How To Report Gains and Losses What's New New Section C of Form 4684 for Ponzi-type investment schemes. Filing taxes 2014  Section C of Form 4684 is new for 2013. Filing taxes 2014 You must complete Section C if you are claiming a theft loss deduction due to a Ponzi-type investment scheme and are using Revenue Procedure 2009-20, as modified by Revenue Procedure 2011-58. Filing taxes 2014 Section C of Form 4684 replaces Appendix A in Revenue Procedure 2009-20. Filing taxes 2014 You do not need to complete Appendix A. Filing taxes 2014 For details, see Losses from Ponzi-type investment schemes , in this chapter. Filing taxes 2014 Introduction This chapter explains the tax treatment of personal (not business or investment related) casualty losses, theft losses, and losses on deposits. Filing taxes 2014 The chapter also explains the following  topics. Filing taxes 2014 How to figure the amount of your loss. Filing taxes 2014 How to treat insurance and other reimbursements you receive. Filing taxes 2014 The deduction limits. Filing taxes 2014 When and how to report a casualty or theft. Filing taxes 2014 Forms to file. Filing taxes 2014    When you have a casualty or theft, you have to file Form 4684. Filing taxes 2014 You will also have to file one or more of the following forms. Filing taxes 2014 Schedule A (Form 1040), Itemized Deductions Schedule D (Form 1040), Capital Gains and Losses Condemnations. Filing taxes 2014   For information on condemnations of property, see Involuntary Conversions in chapter 1 of Publication 544, Sales and Other Disposition of Assets. Filing taxes 2014 Workbook for casualties and thefts. Filing taxes 2014    Publication 584 is available to help you make a list of your stolen or damaged personal-use property and figure your loss. Filing taxes 2014 It includes schedules to help you figure the loss on your home, its contents, and your motor vehicles. Filing taxes 2014 Business or investment-related losses. Filing taxes 2014   For information on a casualty or theft loss of business or income-producing property, see Publication 547, Casualties, Disasters, and Thefts. Filing taxes 2014 Useful Items - You may want to see: Publication 544 Sales and Other Dispositions  of Assets 547 Casualties, Disasters, and   Thefts 584 Casualty, Disaster, and Theft   Loss Workbook (Personal-Use  Property) Form (and Instructions) Schedule A (Form 1040) Itemized Deductions Schedule D (Form 1040) Capital Gains and Losses 4684 Casualties and Thefts Casualty A casualty is the damage, destruction, or loss of property resulting from an identifiable event that is sudden, unexpected, or unusual. Filing taxes 2014 A sudden event is one that is swift, not gradual or progressive. Filing taxes 2014 An unexpected event is one that is ordinarily unanticipated and unintended. Filing taxes 2014 An unusual event is one that is not a day-to-day occurrence and that is not typical of the activity in which you were engaged. Filing taxes 2014 Deductible losses. Filing taxes 2014   Deductible casualty losses can result from a number of different causes, including the following. Filing taxes 2014 Car accidents (but see Nondeductible losses , next, for exceptions). Filing taxes 2014 Earthquakes. Filing taxes 2014 Fires (but see Nondeductible losses , next, for exceptions). Filing taxes 2014 Floods. Filing taxes 2014 Government-ordered demolition or relocation of a home that is unsafe to use because of a disaster as discussed under Disaster Area Losses in Publication 547. Filing taxes 2014 Mine cave-ins. Filing taxes 2014 Shipwrecks. Filing taxes 2014 Sonic booms. Filing taxes 2014 Storms, including hurricanes and tornadoes. Filing taxes 2014 Terrorist attacks. Filing taxes 2014 Vandalism. Filing taxes 2014 Volcanic eruptions. Filing taxes 2014 Nondeductible losses. Filing taxes 2014   A casualty loss is not deductible if the damage or destruction is caused by the following. Filing taxes 2014 Accidentally breaking articles such as glassware or china under normal conditions. Filing taxes 2014 A family pet (explained below). Filing taxes 2014 A fire if you willfully set it or pay someone else to set it. Filing taxes 2014 A car accident if your willful negligence or willful act caused it. Filing taxes 2014 The same is true if the willful act or willful negligence of someone acting for you caused the accident. Filing taxes 2014 Progressive deterioration (explained later). Filing taxes 2014 Family pet. Filing taxes 2014   Loss of property due to damage by a family pet is not deductible as a casualty loss unless the requirements discussed earlier under Casualty are met. Filing taxes 2014 Example. Filing taxes 2014 Your antique oriental rug was damaged by your new puppy before it was housebroken. Filing taxes 2014 Because the damage was not unexpected and unusual, the loss is not deductible as a casualty loss. Filing taxes 2014 Progressive deterioration. Filing taxes 2014    Loss of property due to progressive deterioration is not deductible as a casualty loss. Filing taxes 2014 This is because the damage results from a steadily operating cause or a normal process, rather than from a sudden event. Filing taxes 2014 The following are examples of damage due to progressive deterioration. Filing taxes 2014 The steady weakening of a building due to normal wind and weather conditions. Filing taxes 2014 The deterioration and damage to a water heater that bursts. Filing taxes 2014 However, the rust and water damage to rugs and drapes caused by the bursting of a water heater does qualify as a casualty. Filing taxes 2014 Most losses of property caused by droughts. Filing taxes 2014 To be deductible, a drought-related loss generally must be incurred in a trade or business or in a transaction entered into for profit. Filing taxes 2014 Termite or moth damage. Filing taxes 2014 The damage or destruction of trees, shrubs, or other plants by a fungus, disease, insects, worms, or similar pests. Filing taxes 2014 However, a sudden destruction due to an unexpected or unusual infestation of beetles or other insects may result in a casualty loss. Filing taxes 2014 Damage from corrosive drywall. Filing taxes 2014   Under a special procedure, you may be able to claim a casualty loss deduction for amounts you paid to repair damage to your home and household appliances that resulted from corrosive drywall. Filing taxes 2014 For details, see Publication 547. Filing taxes 2014 Theft A theft is the taking and removing of money or property with the intent to deprive the owner of it. Filing taxes 2014 The taking of property must be illegal under the laws of the state where it occurred and it must have been done with criminal intent. Filing taxes 2014 You do not need to show a conviction for theft. Filing taxes 2014 Theft includes the taking of money or property by the following means. Filing taxes 2014 Blackmail. Filing taxes 2014 Burglary. Filing taxes 2014 Embezzlement. Filing taxes 2014 Extortion. Filing taxes 2014 Kidnapping for ransom. Filing taxes 2014 Larceny. Filing taxes 2014 Robbery. Filing taxes 2014 The taking of money or property through fraud or misrepresentation is theft if it is illegal under state or local law. Filing taxes 2014 Decline in market value of stock. Filing taxes 2014   You cannot deduct as a theft loss the decline in market value of stock acquired on the open market for investment if the decline is caused by disclosure of accounting fraud or other illegal misconduct by the officers or directors of the corporation that issued the stock. Filing taxes 2014 However, you can deduct as a capital loss the loss you sustain when you sell or exchange the stock or the stock becomes completely worthless. Filing taxes 2014 You report a capital loss on Schedule D (Form 1040). Filing taxes 2014 For more information about stock sales, worthless stock, and capital losses, see chapter 4 of Publication 550. Filing taxes 2014 Mislaid or lost property. Filing taxes 2014   The simple disappearance of money or property is not a theft. Filing taxes 2014 However, an accidental loss or disappearance of property can qualify as a casualty if it results from an identifiable event that is sudden, unexpected, or unusual. Filing taxes 2014 Sudden, unexpected, and unusual events are defined earlier. Filing taxes 2014 Example. Filing taxes 2014 A car door is accidentally slammed on your hand, breaking the setting of your diamond ring. Filing taxes 2014 The diamond falls from the ring and is never found. Filing taxes 2014 The loss of the diamond is a casualty. Filing taxes 2014 Losses from Ponzi-type investment schemes. Filing taxes 2014   If you had a loss from a Ponzi-type investment scheme, see: Revenue Ruling 2009-9, 2009-14 I. Filing taxes 2014 R. Filing taxes 2014 B. Filing taxes 2014 735 (available at www. Filing taxes 2014 irs. Filing taxes 2014 gov/irb/2009-14_IRB/ar07. Filing taxes 2014 html). Filing taxes 2014 Revenue Procedure 2009-20, 2009-14 I. Filing taxes 2014 R. Filing taxes 2014 B. Filing taxes 2014 749 (available at www. Filing taxes 2014 irs. Filing taxes 2014 gov/irb/2009-14_IRB/ar11. Filing taxes 2014 html). Filing taxes 2014 Revenue Procedure 2011-58, 2011-50 I. Filing taxes 2014 R. Filing taxes 2014 B. Filing taxes 2014 849 (available at www. Filing taxes 2014 irs. Filing taxes 2014 gov/irb/2011-50_IRB/ar11. Filing taxes 2014 html). Filing taxes 2014 If you qualify to use Revenue Procedure 2009-20, as modified by Revenue Procedure 2011-58, and you choose to follow the procedures in the guidance, first fill out Section C of Form 4684 to determine the amount to enter on Section B, line 28. Filing taxes 2014 Skip lines 19 to 27. Filing taxes 2014 Section C of Form 4684 replaces Appendix A in Revenue Procedure 2009-20. Filing taxes 2014 You do not need to complete Appendix A. Filing taxes 2014 For more information, see the above revenue ruling and revenue procedures, and the Instructions for Form 4684. Filing taxes 2014   If you choose not to use the procedures in Revenue Procedure 2009-20, you may claim your theft loss by filling out Section B, lines 19 to 39, as appropriate. Filing taxes 2014 Loss on Deposits A loss on deposits can occur when a bank, credit union, or other financial institution becomes insolvent or bankrupt. Filing taxes 2014 If you incurred this type of loss, you can choose one of the following ways to deduct the loss. Filing taxes 2014 As a casualty loss. Filing taxes 2014 As an ordinary loss. Filing taxes 2014 As a nonbusiness bad debt. Filing taxes 2014 Casualty loss or ordinary loss. Filing taxes 2014   You can choose to deduct a loss on deposits as a casualty loss or as an ordinary loss for any year in which you can reasonably estimate how much of your deposits you have lost in an insolvent or bankrupt financial institution. Filing taxes 2014 The choice is generally made on the return you file for that year and applies to all your losses on deposits for the year in that particular financial institution. Filing taxes 2014 If you treat the loss as a casualty or ordinary loss, you cannot treat the same amount of the loss as a nonbusiness bad debt when it actually becomes worthless. Filing taxes 2014 However, you can take a nonbusiness bad debt deduction for any amount of loss that is more than the estimated amount you deducted as a casualty or ordinary loss. Filing taxes 2014 Once you make this choice, you cannot change it without permission from the Internal Revenue Service. Filing taxes 2014   If you claim an ordinary loss, report it as a miscellaneous itemized deduction on Schedule A (Form 1040), line 23. Filing taxes 2014 The maximum amount you can claim is $20,000 ($10,000 if you are married filing separately) reduced by any expected state insurance proceeds. Filing taxes 2014 Your loss is subject to the 2%-of-adjusted-gross-income limit. Filing taxes 2014 You cannot choose to claim an ordinary loss if any part of the deposit is federally insured. Filing taxes 2014 Nonbusiness bad debt. Filing taxes 2014   If you do not choose to deduct the loss as a casualty loss or as an ordinary loss, you must wait until the year the actual loss is determined and deduct the loss as a nonbusiness bad debt in that year. Filing taxes 2014 How to report. Filing taxes 2014   The kind of deduction you choose for your loss on deposits determines how you report your loss. Filing taxes 2014 If you choose: Casualty loss — report it on Form 4684 first and then on Schedule A (Form 1040). Filing taxes 2014 Ordinary loss — report it on Schedule A (Form 1040) as a miscellaneous itemized deduction. Filing taxes 2014 Nonbusiness bad debt — report it on Form 8949 first and then on Schedule D (Form 1040). Filing taxes 2014 More information. Filing taxes 2014   For more information, see Special Treatment for Losses on Deposits in Insolvent or Bankrupt Financial Institutions in the Instructions for Form 4684 or Deposit in Insolvent or Bankrupt Financial Institution in Publication 550. Filing taxes 2014 Proof of Loss To deduct a casualty or theft loss, you must be able to prove that you had a casualty or theft. Filing taxes 2014 You also must be able to support the amount you take as a deduction. Filing taxes 2014 Casualty loss proof. Filing taxes 2014   For a casualty loss, your records should show all the following. Filing taxes 2014 The type of casualty (car accident, fire, storm, etc. Filing taxes 2014 ) and when it occurred. Filing taxes 2014 That the loss was a direct result of the casualty. Filing taxes 2014 That you were the owner of the property or, if you leased the property from someone else, that you were contractually liable to the owner for the damage. Filing taxes 2014 Whether a claim for reimbursement exists for which there is a reasonable expectation of recovery. Filing taxes 2014 Theft loss proof. Filing taxes 2014   For a theft loss, your records should show all the following. Filing taxes 2014 When you discovered that your property was missing. Filing taxes 2014 That your property was stolen. Filing taxes 2014 That you were the owner of the property. Filing taxes 2014 Whether a claim for reimbursement exists for which there is a reasonable expectation of recovery. Filing taxes 2014 It is important that you have records that will prove your deduction. Filing taxes 2014 If you do not have the actual records to support your deduction, you can use other satisfactory evidence to support it. Filing taxes 2014 Figuring a Loss Figure the amount of your loss using the following steps. Filing taxes 2014 Determine your adjusted basis in the property before the casualty or theft. Filing taxes 2014 Determine the decrease in fair market value of the property as a result of the casualty or theft. Filing taxes 2014 From the smaller of the amounts you determined in (1) and (2), subtract any insurance or other reimbursement you received or expect to receive. Filing taxes 2014 For personal-use property and property used in performing services as an employee, apply the deduction limits, discussed later, to determine the amount of your deductible loss. Filing taxes 2014 Gain from reimbursement. Filing taxes 2014   If your reimbursement is more than your adjusted basis in the property, you have a gain. Filing taxes 2014 This is true even if the decrease in the FMV of the property is smaller than your adjusted basis. Filing taxes 2014 If you have a gain, you may have to pay tax on it, or you may be able to postpone reporting the gain. Filing taxes 2014 See Publication 547 for more information on how to treat a gain from a reimbursement for a casualty or theft. Filing taxes 2014 Leased property. Filing taxes 2014   If you are liable for casualty damage to property you lease, your loss is the amount you must pay to repair the property minus any insurance or other reimbursement you receive or expect to receive. Filing taxes 2014 Decrease in Fair Market Value Fair market value (FMV) is the price for which you could sell your property to a willing buyer when neither of you has to sell or buy and both of you know all the relevant facts. Filing taxes 2014 The decrease in FMV used to figure the amount of a casualty or theft loss is the difference between the property's fair market value immediately before and immediately after the casualty or theft. Filing taxes 2014 FMV of stolen property. Filing taxes 2014   The FMV of property immediately after a theft is considered to be zero, since you no longer have the property. Filing taxes 2014 Example. Filing taxes 2014 Several years ago, you purchased silver dollars at face value for $150. Filing taxes 2014 This is your adjusted basis in the property. Filing taxes 2014 Your silver dollars were stolen this year. Filing taxes 2014 The FMV of the coins was $1,000 just before they were stolen, and insurance did not cover them. Filing taxes 2014 Your theft loss is $150. Filing taxes 2014 Recovered stolen property. Filing taxes 2014   Recovered stolen property is your property that was stolen and later returned to you. Filing taxes 2014 If you recovered property after you had already taken a theft loss deduction, you must refigure your loss using the smaller of the property's adjusted basis (explained later) or the decrease in FMV from the time just before it was stolen until the time it was recovered. Filing taxes 2014 Use this amount to refigure your total loss for the year in which the loss was deducted. Filing taxes 2014   If your refigured loss is less than the loss you deducted, you generally have to report the difference as income in the recovery year. Filing taxes 2014 But report the difference only up to the amount of the loss that reduced your tax. Filing taxes 2014 For more information on the amount to report, see Recoveries in chapter 12. Filing taxes 2014 Figuring Decrease in FMV— Items To Consider To figure the decrease in FMV because of a casualty or theft, you generally need a competent appraisal. Filing taxes 2014 However, other measures can also be used to establish certain decreases. Filing taxes 2014 Appraisal. Filing taxes 2014   An appraisal to determine the difference between the FMV of the property immediately before a casualty or theft and immediately afterward should be made by a competent appraiser. Filing taxes 2014 The appraiser must recognize the effects of any general market decline that may occur along with the casualty. Filing taxes 2014 This information is needed to limit any deduction to the actual loss resulting from damage to the property. Filing taxes 2014   Several factors are important in evaluating the accuracy of an appraisal, including the following. Filing taxes 2014 The appraiser's familiarity with your property before and after the casualty or theft. Filing taxes 2014 The appraiser's knowledge of sales of comparable property in the area. Filing taxes 2014 The appraiser's knowledge of conditions in the area of the casualty. Filing taxes 2014 The appraiser's method of appraisal. Filing taxes 2014    You may be able to use an appraisal that you used to get a federal loan (or a federal loan guarantee) as the result of a federally declared disaster to establish the amount of your disaster loss. Filing taxes 2014 For more information on disasters, see Disaster Area Losses, in Pub. Filing taxes 2014 547. Filing taxes 2014 Cost of cleaning up or making repairs. Filing taxes 2014   The cost of repairing damaged property is not part of a casualty loss. Filing taxes 2014 Neither is the cost of cleaning up after a casualty. Filing taxes 2014 But you can use the cost of cleaning up or making repairs after a casualty as a measure of the decrease in FMV if you meet all the following conditions. Filing taxes 2014 The repairs are actually made. Filing taxes 2014 The repairs are necessary to bring the property back to its condition before the casualty. Filing taxes 2014 The amount spent for repairs is not excessive. Filing taxes 2014 The repairs take care of the damage only. Filing taxes 2014 The value of the property after the repairs is not, due to the repairs, more than the value of the property before the casualty. Filing taxes 2014 Landscaping. Filing taxes 2014   The cost of restoring landscaping to its original condition after a casualty may indicate the decrease in FMV. Filing taxes 2014 You may be able to measure your loss by what you spend on the following. Filing taxes 2014 Removing destroyed or damaged trees and shrubs minus any salvage you receive. Filing taxes 2014 Pruning and other measures taken to preserve damaged trees and shrubs. Filing taxes 2014 Replanting necessary to restore the property to its approximate value before the casualty. Filing taxes 2014 Car value. Filing taxes 2014    Books issued by various automobile organizations that list your car may be useful in figuring the value of your car. Filing taxes 2014 You can use the book's retail values and modify them by such factors as mileage and the condition of your car to figure its value. Filing taxes 2014 The prices are not official, but they may be useful in determining value and suggesting relative prices for comparison with current sales and offerings in your area. Filing taxes 2014 If your car is not listed in the books, determine its value from other sources. Filing taxes 2014 A dealer's offer for your car as a trade-in on a new car is not usually a measure of its true value. Filing taxes 2014 Figuring Decrease in FMV— Items Not To Consider You generally should not consider the following items when attempting to establish the decrease in FMV of your property. Filing taxes 2014 Cost of protection. Filing taxes 2014   The cost of protecting your property against a casualty or theft is not part of a casualty or theft loss. Filing taxes 2014 The amount you spend on insurance or to board up your house against a storm is not part of your loss. Filing taxes 2014   If you make permanent improvements to your property to protect it against a casualty or theft, add the cost of these improvements to your basis in the property. Filing taxes 2014 An example would be the cost of a dike to prevent flooding. Filing taxes 2014 Exception. Filing taxes 2014   You cannot increase your basis in the property by, or deduct as a business expense, any expenditures you made with respect to qualified disaster mitigation payments. Filing taxes 2014 See Disaster Area Losses in Publication 547. Filing taxes 2014 Incidental expenses. Filing taxes 2014   Any incidental expenses you have due to a casualty or theft, such as expenses for the treatment of personal injuries, for temporary housing, or for a rental car, are not part of your casualty or theft loss. Filing taxes 2014 Replacement cost. Filing taxes 2014   The cost of replacing stolen or destroyed property is not part of a casualty or theft loss. Filing taxes 2014 Sentimental value. Filing taxes 2014   Do not consider sentimental value when determining your loss. Filing taxes 2014 If a family portrait, heirloom, or keepsake is damaged, destroyed, or stolen, you must base your loss on its FMV, as limited by your adjusted basis in the property. Filing taxes 2014 Decline in market value of property in or near casualty area. Filing taxes 2014   A decrease in the value of your property because it is in or near an area that suffered a casualty, or that might again suffer a casualty, is not to be taken into consideration. Filing taxes 2014 You have a loss only for actual casualty damage to your property. Filing taxes 2014 However, if your home is in a federally declared disaster area, see Disaster Area Losses in Publication 547. Filing taxes 2014 Costs of photographs and appraisals. Filing taxes 2014    Photographs taken after a casualty will be helpful in establishing the condition and value of the property after it was damaged. Filing taxes 2014 Photographs showing the condition of the property after it was repaired, restored, or replaced may also be helpful. Filing taxes 2014    Appraisals are used to figure the decrease in FMV because of a casualty or theft. Filing taxes 2014 See Appraisal , earlier, under Figuring Decrease in FMV — Items To Consider, for information about appraisals. Filing taxes 2014   The costs of photographs and appraisals used as evidence of the value and condition of property damaged as a result of a casualty are not a part of the loss. Filing taxes 2014 You can claim these costs as a miscellaneous itemized deduction subject to the 2%-of-adjusted-gross-income limit on Schedule A (Form 1040). Filing taxes 2014 For information about miscellaneous deductions, see chapter 28. Filing taxes 2014 Adjusted Basis Adjusted basis is your basis in the property (usually cost) increased or decreased by various events, such as improvements and casualty losses. Filing taxes 2014 For more information, see chapter 13. Filing taxes 2014 Insurance and Other Reimbursements If you receive an insurance payment or other type of reimbursement, you must subtract the reimbursement when you figure your loss. Filing taxes 2014 You do not have a casualty or theft loss to the extent you are reimbursed. Filing taxes 2014 If you expect to be reimbursed for part or all of your loss, you must subtract the expected reimbursement when you figure your loss. Filing taxes 2014 You must reduce your loss even if you do not receive payment until a later tax year. Filing taxes 2014 See Reimbursement Received After Deducting Loss , later. Filing taxes 2014 Failure to file a claim for reimbursement. Filing taxes 2014   If your property is covered by insurance, you must file a timely insurance claim for reimbursement of your loss. Filing taxes 2014 Otherwise, you cannot deduct this loss as a casualty or theft loss. Filing taxes 2014 However, this rule does not apply to the portion of the loss not covered by insurance (for example, a deductible). Filing taxes 2014 Example. Filing taxes 2014 You have a car insurance policy with a $1,000 deductible. Filing taxes 2014 Because your insurance did not cover the first $1,000 of an auto collision, the $1,000 would be deductible (subject to the deduction limits discussed later). Filing taxes 2014 This is true even if you do not file an insurance claim, because your insurance policy would never have reimbursed you for the deductible. Filing taxes 2014 Types of Reimbursements The most common type of reimbursement is an insurance payment for your stolen or damaged property. Filing taxes 2014 Other types of reimbursements are discussed next. Filing taxes 2014 Also see the Instructions for Form 4684. Filing taxes 2014 Employer's emergency disaster fund. Filing taxes 2014   If you receive money from your employer's emergency disaster fund and you must use that money to rehabilitate or replace property on which you are claiming a casualty loss deduction, you must take that money into consideration in computing the casualty loss deduction. Filing taxes 2014 Take into consideration only the amount you used to replace your destroyed or damaged property. Filing taxes 2014 Example. Filing taxes 2014 Your home was extensively damaged by a tornado. Filing taxes 2014 Your loss after reimbursement from your insurance company was $10,000. Filing taxes 2014 Your employer set up a disaster relief fund for its employees. Filing taxes 2014 Employees receiving money from the fund had to use it to rehabilitate or replace their damaged or destroyed property. Filing taxes 2014 You received $4,000 from the fund and spent the entire amount on repairs to your home. Filing taxes 2014 In figuring your casualty loss, you must reduce your unreimbursed loss ($10,000) by the $4,000 you received from your employer's fund. Filing taxes 2014 Your casualty loss before applying the deduction limits discussed later is $6,000. Filing taxes 2014 Cash gifts. Filing taxes 2014   If you receive excludable cash gifts as a disaster victim and there are no limits on how you can use the money, you do not reduce your casualty loss by these excludable cash gifts. Filing taxes 2014 This applies even if you use the money to pay for repairs to property damaged in the disaster. Filing taxes 2014 Example. Filing taxes 2014 Your home was damaged by a hurricane. Filing taxes 2014 Relatives and neighbors made cash gifts to you that were excludable from your income. Filing taxes 2014 You used part of the cash gifts to pay for repairs to your home. Filing taxes 2014 There were no limits or restrictions on how you could use the cash gifts. Filing taxes 2014 Because it was an excludable gift, the money you received and used to pay for repairs to your home does not reduce your casualty loss on the damaged home. Filing taxes 2014 Insurance payments for living expenses. Filing taxes 2014   You do not reduce your casualty loss by insurance payments you receive to cover living expenses in either of the following situations. Filing taxes 2014 You lose the use of your main home because of a casualty. Filing taxes 2014 Government authorities do not allow you access to your main home because of a casualty or threat of one. Filing taxes 2014 Inclusion in income. Filing taxes 2014   If these insurance payments are more than the temporary increase in your living expenses, you must include the excess in your income. Filing taxes 2014 Report this amount on Form 1040, line 21. Filing taxes 2014 However, if the casualty occurs in a federally declared disaster area, none of the insurance payments are taxable. Filing taxes 2014 See Qualified disaster relief payments, under Disaster Area Losses in Publication 547. Filing taxes 2014   A temporary increase in your living expenses is the difference between the actual living expenses you and your family incurred during the period you could not use your home and your normal living expenses for that period. Filing taxes 2014 Actual living expenses are the reasonable and necessary expenses incurred because of the loss of your main home. Filing taxes 2014 Generally, these expenses include the amounts you pay for the following. Filing taxes 2014 Rent for suitable housing. Filing taxes 2014 Transportation. Filing taxes 2014 Food. Filing taxes 2014 Utilities. Filing taxes 2014 Miscellaneous services. Filing taxes 2014 Normal living expenses consist of these same expenses that you would have incurred but did not because of the casualty or the threat of one. Filing taxes 2014 Example. Filing taxes 2014 As a result of a fire, you vacated your apartment for a month and moved to a motel. Filing taxes 2014 You normally pay $525 a month for rent. Filing taxes 2014 None was charged for the month the apartment was vacated. Filing taxes 2014 Your motel rent for this month was $1,200. Filing taxes 2014 You normally pay $200 a month for food. Filing taxes 2014 Your food expenses for the month you lived in the motel were $400. Filing taxes 2014 You received $1,100 from your insurance company to cover your living expenses. Filing taxes 2014 You determine the payment you must include in income as follows. Filing taxes 2014 1) Insurance payment for living expenses $1,100 2) Actual expenses during the month you are unable to use your home because of fire 1,600   3) Normal living expenses 725   4) Temporary increase in living  expenses: Subtract line 3 from line 2 875 5) Amount of payment includible  in income: Subtract line 4  from line 1 $ 225 Tax year of inclusion. Filing taxes 2014   You include the taxable part of the insurance payment in income for the year you regain the use of your main home or, if later, for the year you receive the taxable part of the insurance payment. Filing taxes 2014 Example. Filing taxes 2014 Your main home was destroyed by a tornado in August 2011. Filing taxes 2014 You regained use of your home in November 2012. Filing taxes 2014 The insurance payments you received in 2011 and 2012 were $1,500 more than the temporary increase in your living expenses during those years. Filing taxes 2014 You include this amount in income on your 2012 Form 1040. Filing taxes 2014 If, in 2013, you receive further payments to cover the living expenses you had in 2011 and 2012, you must include those payments in income on your 2013 Form 1040. Filing taxes 2014 Disaster relief. Filing taxes 2014   Food, medical supplies, and other forms of assistance you receive do not reduce your casualty loss unless they are replacements for lost or destroyed property. Filing taxes 2014 Qualified disaster relief payments you receive for expenses you incurred as a result of a federally declared disaster are not taxable income to you. Filing taxes 2014 For more information, see Disaster Area Losses in Publication 547. Filing taxes 2014 Disaster unemployment assistance payments are unemployment benefits that are taxable. Filing taxes 2014 Generally, disaster relief grants and qualified disaster mitigation payments made under the Robert T. Filing taxes 2014 Stafford Disaster Relief and Emergency Assistance Act or the National Flood Insurance Act (as in effect on April 15, 2005) are not includible in your income. Filing taxes 2014 See Disaster Area Losses in Publication 547. Filing taxes 2014 Reimbursement Received After Deducting Loss If you figured your casualty or theft loss using your expected reimbursement, you may have to adjust your tax return for the tax year in which you receive your actual reimbursement. Filing taxes 2014 This section explains the adjustment you may have to make. Filing taxes 2014 Actual reimbursement less than expected. Filing taxes 2014   If you later receive less reimbursement than you expected, include that difference as a loss with your other losses (if any) on your return for the year in which you can reasonably expect no more reimbursement. Filing taxes 2014 Example. Filing taxes 2014 Your personal car had an FMV of $2,000 when it was destroyed in a collision with another car in 2012. Filing taxes 2014 The accident was due to the negligence of the other driver. Filing taxes 2014 At the end of 2012, there was a reasonable prospect that the owner of the other car would reimburse you in full. Filing taxes 2014 You did not have a deductible loss in 2012. Filing taxes 2014 In January 2013, the court awarded you a judgment of $2,000. Filing taxes 2014 However, in July it became apparent that you will be unable to collect any amount from the other driver. Filing taxes 2014 You can deduct the loss in 2013 subject to the limits discussed later. Filing taxes 2014 Actual reimbursement more than expected. Filing taxes 2014   If you later receive more reimbursement than you expected after you claimed a deduction for the loss, you may have to include the extra reimbursement in your income for the year you receive it. Filing taxes 2014 However, if any part of the original deduction did not reduce your tax for the earlier year, do not include that part of the reimbursement in your income. Filing taxes 2014 You do not refigure your tax for the year you claimed the deduction. Filing taxes 2014 For more information, see Recoveries in chapter 12. Filing taxes 2014 If the total of all the reimbursements you receive is more than your adjusted basis in the destroyed or stolen property, you will have a gain on the casualty or theft. Filing taxes 2014 If you have already taken a deduction for a loss and you receive the reimbursement in a later year, you may have to include the gain in your income for the later year. Filing taxes 2014 Include the gain as ordinary income up to the amount of your deduction that reduced your tax for the earlier year. Filing taxes 2014 See Figuring a Gain in Publication 547 for more information on how to treat a gain from the reimbursement of a casualty or theft. Filing taxes 2014 Actual reimbursement same as expected. Filing taxes 2014   If you receive exactly the reimbursement you expected to receive, you do not have to include any of the reimbursement in your income and you cannot deduct any additional loss. Filing taxes 2014 Example. Filing taxes 2014 In December 2013, you had a collision while driving your personal car. Filing taxes 2014 Repairs to the car cost $950. Filing taxes 2014 You had $100 deductible collision insurance. Filing taxes 2014 Your insurance company agreed to reimburse you for the rest of the damage. Filing taxes 2014 Because you expected a reimbursement from the insurance company, you did not have a casualty loss deduction in 2013. Filing taxes 2014 Due to the $100 rule (discussed later under Deduction Limits ), you cannot deduct the $100 you paid as the deductible. Filing taxes 2014 When you receive the $850 from the insurance company in 2014, do not report it as income. Filing taxes 2014 Single Casualty on Multiple Properties Personal property. Filing taxes 2014   Personal property is any property that is not real property. Filing taxes 2014 If your personal property is stolen or is damaged or destroyed by a casualty, you must figure your loss separately for each item of property. Filing taxes 2014 Then combine these separate losses to figure the total loss from that casualty or theft. Filing taxes 2014 Example. Filing taxes 2014 A fire in your home destroyed an upholstered chair, an oriental rug, and an antique table. Filing taxes 2014 You did not have fire insurance to cover your loss. Filing taxes 2014 (This was the only casualty or theft you had during the year. Filing taxes 2014 ) You paid $750 for the chair and you established that it had an FMV of $500 just before the fire. Filing taxes 2014 The rug cost $3,000 and had an FMV of $2,500 just before the fire. Filing taxes 2014 You bought the table at an auction for $100 before discovering it was an antique. Filing taxes 2014 It had been appraised at $900 before the fire. Filing taxes 2014 You figure your loss on each of these items as follows:     Chair Rug Table 1) Basis (cost) $750 $3,000 $100 2) FMV before fire $500 $2,500 $900 3) FMV after fire –0– –0– –0– 4) Decrease in FMV $500 $2,500 $900 5) Loss (smaller of (1) or  (4)) $500 $2,500 $100           6) Total loss     $3,100 Real property. Filing taxes 2014   In figuring a casualty loss on personal-use real property, treat the entire property (including any improvements, such as buildings, trees, and shrubs) as one item. Filing taxes 2014 Figure the loss using the smaller of the adjusted basis or the decrease in FMV of the entire property. Filing taxes 2014 Example. Filing taxes 2014 You bought your home a few years ago. Filing taxes 2014 You paid $160,000 ($20,000 for the land and $140,000 for the house). Filing taxes 2014 You also spent $2,000 for landscaping. Filing taxes 2014 This year a fire destroyed your home. Filing taxes 2014 The fire also damaged the shrubbery and trees in your yard. Filing taxes 2014 The fire was your only casualty or theft loss this year. Filing taxes 2014 Competent appraisers valued the property as a whole at $200,000 before the fire, but only $30,000 after the fire. Filing taxes 2014 (The loss to your household furnishings is not shown in this example. Filing taxes 2014 It would be figured separately on each item, as explained earlier under Personal property . Filing taxes 2014 ) Shortly after the fire, the insurance company paid you $155,000 for the loss. Filing taxes 2014 You figure your casualty loss as follows: 1) Adjusted basis of the entire property (land, building, and landscaping) $162,000 2) FMV of entire property before fire $200,000 3) FMV of entire property after fire 30,000 4) Decrease in FMV of entire  property $170,000 5) Loss (smaller of (1) or (4)) $162,000 6) Subtract insurance 155,000 7) Amount of loss after reimbursement $7,000 Deduction Limits After you have figured your casualty or theft loss, you must figure how much of the loss you can deduct. Filing taxes 2014 If the loss was to property for your personal use or your family's use, there are two limits on the amount you can deduct for your casualty or theft loss. Filing taxes 2014 You must reduce each casualty or theft loss by $100 ($100 rule). Filing taxes 2014 You must further reduce the total of all your casualty or theft losses by 10% of your adjusted gross income (10% rule). Filing taxes 2014 You make these reductions on Form 4684. Filing taxes 2014 These rules are explained next and Table 25-1 summarizes how to apply the $100 rule and the 10% rule in various situations. Filing taxes 2014 For more detailed explanations and examples, see Publication 547. Filing taxes 2014 Table 25-1. Filing taxes 2014 How To Apply the Deduction Limits for Personal-Use Property   $100 Rule 10% Rule General Application You must reduce each casualty or theft loss by $100 when figuring your deduction. Filing taxes 2014 Apply this rule after you have figured the amount of your loss. Filing taxes 2014 You must reduce your total casualty or theft loss by 10% of your adjusted gross income. Filing taxes 2014 Apply this rule after you reduce each loss by $100 (the $100 rule). Filing taxes 2014 Single Event Apply this rule only once, even if many pieces of property are affected. Filing taxes 2014 Apply this rule only once, even if many pieces of property are affected. Filing taxes 2014 More Than One Event Apply to the loss from each event. Filing taxes 2014 Apply to the total of all your losses from all events. Filing taxes 2014 More Than One Person— With Loss From the Same Event (other than a married couple filing jointly) Apply separately to each person. Filing taxes 2014 Apply separately to each person. Filing taxes 2014 Married Couple—With Loss From the Same Event Filing Jointly Apply as if you were one person. Filing taxes 2014 Apply as if you were one person. Filing taxes 2014 Filing Separately Apply separately to each spouse. Filing taxes 2014 Apply separately to each spouse. Filing taxes 2014 More Than One Owner (other than a married couple filing jointly) Apply separately to each owner of jointly owned property. Filing taxes 2014 Apply separately to each owner of jointly owned property. Filing taxes 2014 Property used partly for business and partly for personal purposes. Filing taxes 2014   When property is used partly for personal purposes and partly for business or income-producing purposes, the casualty or theft loss deduction must be figured separately for the personal-use part and for the business or income-producing part. Filing taxes 2014 You must figure each loss separately because the $100 rule and the 10% rule apply only to the loss on the personal-use part of the property. Filing taxes 2014 $100 Rule After you have figured your casualty or theft loss on personal-use property, you must reduce that loss by $100. Filing taxes 2014 This reduction applies to each total casualty or theft loss. Filing taxes 2014 It does not matter how many pieces of property are involved in an event. Filing taxes 2014 Only a single $100 reduction applies. Filing taxes 2014 Example. Filing taxes 2014 A hailstorm damages your home and your car. Filing taxes 2014 Determine the amount of loss, as discussed earlier, for each of these items. Filing taxes 2014 Since the losses are due to a single event, you combine the losses and reduce the combined amount by $100. Filing taxes 2014 Single event. Filing taxes 2014   Generally, events closely related in origin cause a single casualty. Filing taxes 2014 It is a single casualty when the damage is from two or more closely related causes, such as wind and flood damage caused by the same storm. Filing taxes 2014 10% Rule You must reduce the total of all your casualty or theft losses on personal-use property by 10% of your adjusted gross income. Filing taxes 2014 Apply this rule after you reduce each loss by $100. Filing taxes 2014 For more information, see the Form 4684 instructions. Filing taxes 2014 If you have both gains and losses from casualties or thefts, see Gains and losses , later in this discussion. Filing taxes 2014 Example 1. Filing taxes 2014 In June, you discovered that your house had been burglarized. Filing taxes 2014 Your loss after insurance reimbursement was $2,000. Filing taxes 2014 Your adjusted gross income for the year you discovered the theft is $29,500. Filing taxes 2014 You first apply the $100 rule and then the 10% rule. Filing taxes 2014 Figure your theft loss deduction as follows. Filing taxes 2014 1) Loss after insurance $2,000 2) Subtract $100 100 3) Loss after $100 rule $1,900 4) Subtract 10% × $29,500 AGI 2,950 5) Theft loss deduction –0– You do not have a theft loss deduction because your loss after you apply the $100 rule ($1,900) is less than 10% of your adjusted gross income ($2,950). Filing taxes 2014 Example 2. Filing taxes 2014 In March, you had a car accident that totally destroyed your car. Filing taxes 2014 You did not have collision insurance on your car, so you did not receive any insurance reimbursement. Filing taxes 2014 Your loss on the car was $1,800. Filing taxes 2014 In November, a fire damaged your basement and totally destroyed the furniture, washer, dryer, and other items stored there. Filing taxes 2014 Your loss on the basement items after reimbursement was $2,100. Filing taxes 2014 Your adjusted gross income for the year that the accident and fire occurred is $25,000. Filing taxes 2014 You figure your casualty loss deduction as follows. Filing taxes 2014       Base-     Car ment 1) Loss $1,800 $2,100 2) Subtract $100 per incident 100 100 3) Loss after $100 rule $1,700 $2,000 4) Total loss $3,700 5) Subtract 10% × $25,000 AGI 2,500 6) Casualty loss deduction $1,200 Gains and losses. Filing taxes 2014   If you had both gains and losses from casualties or thefts to personal-use property, you must compare your total gains to your total losses. Filing taxes 2014 Do this after you have reduced each loss by any reimbursements and by $100, but before you have reduced the losses by 10% of your adjusted gross income. Filing taxes 2014 Casualty or theft gains do not include gains you choose to postpone. Filing taxes 2014 See Publication 547 for information on the postponement of gain. Filing taxes 2014 Losses more than gains. Filing taxes 2014   If your losses are more than your recognized gains, subtract your gains from your losses and reduce the result by 10% of your adjusted gross income. Filing taxes 2014 The rest, if any, is your deductible loss from personal-use property. Filing taxes 2014 Gains more than losses. Filing taxes 2014   If your recognized gains are more than your losses, subtract your losses from your gains. Filing taxes 2014 The difference is treated as capital gain and must be reported on Schedule D (Form 1040). Filing taxes 2014 The 10% rule does not apply to your gains. Filing taxes 2014 When To Report Gains and Losses Gains. Filing taxes 2014   If you receive an insurance or other reimbursement that is more than your adjusted basis in the destroyed or stolen property, you have a gain from the casualty or theft. Filing taxes 2014 You must include this gain in your income in the year you receive the reimbursement, unless you choose to postpone reporting the gain as explained in Publication 547. Filing taxes 2014 If you have a loss, see Table 25-2 . Filing taxes 2014 Table 25-2. Filing taxes 2014 When To Deduct a Loss IF you have a loss. Filing taxes 2014 . Filing taxes 2014 . Filing taxes 2014 THEN deduct it in the year. Filing taxes 2014 . Filing taxes 2014 . Filing taxes 2014 from a casualty, the loss occurred. Filing taxes 2014 in a federally declared disaster area, the disaster occurred or the year immediately before the disaster. Filing taxes 2014 from a theft, the theft was discovered. Filing taxes 2014 on a deposit treated as a:   • casualty or any ordinary loss, a reasonable estimate can be made. Filing taxes 2014 • bad debt, deposits are totally worthless. Filing taxes 2014 Losses. Filing taxes 2014   Generally, you can deduct a casualty loss that is not reimbursable only in the tax year in which the casualty occurred. Filing taxes 2014 This is true even if you do not repair or replace the damaged property until a later year. Filing taxes 2014   You can deduct theft losses that are not reimbursable only in the year you discover your property was stolen. Filing taxes 2014   If you are not sure whether part of your casualty or theft loss will be reimbursed, do not deduct that part until the tax year when you become reasonably certain that it will not be reimbursed. Filing taxes 2014 Loss on deposits. Filing taxes 2014   If your loss is a loss on deposits in an insolvent or bankrupt financial institution, see Loss on Deposits , earlier. Filing taxes 2014 Disaster Area Loss You generally must deduct a casualty loss in the year it occurred. Filing taxes 2014 However, if you have a casualty loss from a federally declared disaster that occurred in an area warranting public or individual assistance (or both), you can choose to deduct the loss on your tax return or amended return for either of the following years. Filing taxes 2014 The year the disaster occurred. Filing taxes 2014 The year immediately preceding the year the disaster occurred. Filing taxes 2014 Gains. Filing taxes 2014    Special rules apply if you choose to postpone reporting gain on property damaged or destroyed in a federally declared disaster area. Filing taxes 2014 For those special rules, see Publication 547. Filing taxes 2014 Postponed tax deadlines. Filing taxes 2014   The IRS may postpone for up to 1 year certain tax deadlines of taxpayers who are affected by a federally declared disaster. Filing taxes 2014 The tax deadlines the IRS may postpone include those for filing income and employment tax returns, paying income and employment taxes, and making contributions to a traditional IRA or Roth IRA. Filing taxes 2014   If any tax deadline is postponed, the IRS will publicize the postponement in your area by publishing a news release, revenue ruling, revenue procedure, notice, announcement, or other guidance in the Internal Revenue Bulletin (IRB). Filing taxes 2014 Go to www. Filing taxes 2014 irs. Filing taxes 2014 gov/uac/Tax-Relief-in-Disaster-Situations to find out if a tax deadline has been postponed for your area. Filing taxes 2014 Who is eligible. Filing taxes 2014   If the IRS postpones a tax deadline, the following taxpayers are eligible for the postponement. Filing taxes 2014 Any individual whose main home is located in a covered disaster area (defined next). Filing taxes 2014 Any business entity or sole proprietor whose principal place of business is located in a covered disaster area. Filing taxes 2014 Any individual who is a relief worker affiliated with a recognized government or philanthropic organization who is assisting in a covered disaster area. Filing taxes 2014 Any individual, business entity, or sole proprietorship whose records are needed to meet a postponed tax deadline, provided those records are maintained in a covered disaster area. Filing taxes 2014 The main home or principal place of business does not have to be located in the covered disaster area. Filing taxes 2014 Any estate or trust that has tax records necessary to meet a postponed tax deadline, provided those records are maintained in a covered disaster area. Filing taxes 2014 The spouse on a joint return with a taxpayer who is eligible for postponements. Filing taxes 2014 Any individual, business entity, or sole proprietorship not located in a covered disaster area, but whose records necessary to meet a postponed tax deadline are located in the covered disaster area. Filing taxes 2014 Any individual visiting the covered disaster area who was killed or injured as a result of the disaster. Filing taxes 2014 Any other person determined by the IRS to be affected by a federally declared disaster. Filing taxes 2014 Covered disaster area. Filing taxes 2014   This is an area of a federally declared disaster in which the IRS has decided to postpone tax deadlines for up to 1 year. Filing taxes 2014 Abatement of interest and penalties. Filing taxes 2014   The IRS may abate the interest and penalties on underpaid income tax for the length of any postponement of tax deadlines. Filing taxes 2014 More information. Filing taxes 2014   For more information, see Disaster Area Losses in Publication 547. Filing taxes 2014 How To Report Gains and Losses Use Form 4684 to report a gain or a deductible loss from a casualty or theft. Filing taxes 2014 If you have more than one casualty or theft, use a separate Form 4684 to determine your gain or loss for each event. Filing taxes 2014 Combine the gains and losses on one Form 4684. Filing taxes 2014 Follow the form instructions as to which lines to fill out. Filing taxes 2014 In addition, you must use the appropriate schedule to report a gain or loss. Filing taxes 2014 The schedule you use depends on whether you have a gain or loss. Filing taxes 2014 If you have a: Report it on: Gain Schedule D (Form 1040) Loss Schedule A (Form 1040) Adjustments to basis. Filing taxes 2014   If you have a casualty or theft loss, you must decrease your basis in the property by any insurance or other reimbursement you receive, and by any deductible loss. Filing taxes 2014 Amounts you spend to restore your property after a casualty increase your adjusted basis. Filing taxes 2014 See Adjusted Basis in chapter 13 for more information. Filing taxes 2014 Net operating loss (NOL). Filing taxes 2014    If your casualty or theft loss deduction causes your deductions for the year to be more than your income for the year, you may have an NOL. Filing taxes 2014 You can use an NOL to lower your tax in an earlier year, allowing you to get a refund for tax you have already paid. Filing taxes 2014 Or, you can use it to lower your tax in a later year. Filing taxes 2014 You do not have to be in business to have an NOL from a casualty or theft loss. Filing taxes 2014 For more information, see Publication 536, Net Operating Losses (NOLs) for Individuals, Estates, and Trusts. Filing taxes 2014 Prev  Up  Next   Home   More Online Publications
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IRS - Taxpayer Compliance Research

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The IRS seeks to help taxpayers comply with their tax obligations voluntarily and timely. The articles and publications on this page contain research related to taxpayer compliance. Compliance measurement research, also known as the tax gap, examines how much tax is not paid voluntarily and timely. Another set of research looks at the causes of taxpayer compliance.

All files on this page are available in Adobe® PDF format, which requires the free Adobe Acrobat® reader to view and print the file.


Tax Gap

Federal Tax Compliance Research: Individual Income Tax Gap Estimates for 1985, 1988, and 1992

Author:

IRS, Compliance Research

Publication date: April 1996, revised
Written for:

Publication 1415

Federal Tax Compliance Research: Gross and Net Employment Tax Gap Estimates for 1984-1997

Author:

IRS, Research Division

Publication date: October 1993, revised
Written for: Publication 1415-E

Income Tax Compliance Research: Net Tax Gap and Remittance Gap Estimates

Author:

IRS Research Division

Publication date: April 1990, revised
Written for:

Publication 1415


Compliance Analysis

Statistical Analysis of Compliance Using the NRP Data: Detection Controlled Models

Author:

Jonathan Feinstein
Yale University

Publication date: June 2004
Written for: 2004 IRS Research Conference
       
Trends as Changes in Variance: The Case of Tax Noncompliance
Author: Kim M. Bloomquist
IRS
Publication date: June 2003
Written for: 2003 IRS Research Conference
                                                   
IRS's Comprehensive Approach to Compliance Measurement
Authors: Robert E. Brown, IRS, National Research Program,
Mark J. Mazur, IRS, Research, Analysis, and Statistics
Publication date: June 2003
Written for: 2003 National Tax Association Spring Symposium
                                                  
Developing an Econometric Model for Measuring Tax Noncompliance Using Operational Audit Data
Authors: Brian Erard, B. Erard and Associates,
Chih-Chin Ho, IRS
Publication date: August 2002
Written for: 2002 American Statistical Association Conference
                                                                 
Compliance Estimates for Earned Income Tax Credit Claimed on 1999 Returns
Author: IRS
Publication date: June 2002
Written for: 2002 IRS Research Conference
                                                  
Compliance Measurement and Workload Selection with Operational Audit Data
Author: Brian Erard, B. Erard and Associates
Publication date: June 2002
Written for: 2002 IRS Research Conference
                                  
Trends in Book-Tax Income and Balance Sheet Differences
Authors:

Lillian Mills and Kaye Newberry, University of Arizona,
William B. Trautman, IRS, Large and Mid-Size Business Division

Publication date: June 2002
Written for: 2002 IRS Research Conference
                                        
Nonfiler Profiles, Fiscal Year 1993: A Focus on Repeaters
Author: Laura R. Rosage
IRS
Publication date: 1996
Written for: SOI Bulletin, Summer Issue
                                                


Determinants of Taxpayer Compliance

Audit Information Dissemination, Taxpayer Communication, and Compliance: An Experimental Approach
Authors:

James Alm, Georgia State University,
Betty Jackson, University of Colorado at Boulder,
Michael McKee, University of Tennessee at Knoxville

Publication date: June 2004 
Written for: 2004 IRS Research Conference 
    
                          
Criminal Investigation Enforcement Activities and Taxpayer Noncompliance
Author:

Jeffrey Dubin
California Institute of Technology

Publication date: June 2004
Written for: 2004 IRS Research Conference
                                                   
Tax Evasion, Income Inequality and Opportunity Costs of Compliance
Author: Kim M. Bloomquist,
IRS, Office of Research
Publication date: November 2003
Written for: 2003 National Tax Association Annual Conference
                                                  
Economic and Behavioral Determinants of Tax Compliance: Evidence from the 1997 Arkansas Tax Penalty Amnesty Program
Authors: Christina M. Ritsema, Hope College,
Deborah W. Thomas and Gary D. Ferrier, University of Arkansas
Publication date: June 2003
Written for: 2003 IRS Research Conference
                                                                 
The Impact of the IRS on Voluntary Tax Compliance: Preliminary Empirical Results
Author: Alan H. Plumley, Technical Advisor,
IRS, Office of Research
Publication date: November 2002
Written for: 2002 National Tax Association Conference
                                                  
The Determinants of Individual Income Tax Compliance: Estimating the Impacts of Tax Policy, Enforcement and IRS Responsiveness
Author: Alan H. Plumley, Technical Advisor,
IRS, Office of Research
Publication date: November 1996, revised
Written for: IRS Publication 1916



 

 

 

  

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Page Last Reviewed or Updated: 12-Mar-2014

The Filing Taxes 2014

Filing taxes 2014 8. Filing taxes 2014   Dividendos y Otras Distribuciones Table of Contents Recordatorio Introduction Useful Items - You may want to see: Información GeneralDividendos no declarados en el Formulario 1099-DIV. Filing taxes 2014 Cómo se le informa del impuesto retenido. Filing taxes 2014 Nominatarios. Filing taxes 2014 Dividendos OrdinariosDividendos Calificados Dividendos Utilizados para la Compra de más Acciones Fondos de Inversión del Mercado Monetario Distribuciones de Ganancias de CapitalAjuste a la base. Filing taxes 2014 Distribuciones que no son DividendosDistribuciones de Liquidación Distribuciones de Acciones y Derechos a Acciones Otras DistribucionesRequisito de declarar ciertos datos. Filing taxes 2014 Tratamiento del impuesto mínimo alternativo. Filing taxes 2014 Cómo Declarar el Ingreso de DividendosDeducción de los intereses de inversiones. Filing taxes 2014 Recordatorio Ingresos de fuentes en el extranjero. Filing taxes 2014  Si es ciudadano de los Estados Unidos con ingresos por concepto de dividendos de fuentes fuera de los Estados Unidos (ingresos del extranjero), tiene que declarar todos estos ingresos en la declaración de impuestos a menos que sean ingresos exentos por las leyes de los EE. Filing taxes 2014 UU. Filing taxes 2014 Esto es cierto independientemente de si reside dentro o fuera de los EE. Filing taxes 2014 UU. Filing taxes 2014 y si recibe o no el Formulario 1099 de un pagador extranjero. Filing taxes 2014 Introduction Este capítulo explica el trato tributario que se le da a: Dividendos ordinarios, Distribuciones de ganancias de capital, Distribuciones que no sean dividendos y Otras distribuciones que pueda recibir de una sociedad anónima o de un fondo mutuo. Filing taxes 2014 Este capítulo también explica cómo se declara el ingreso de dividendos en su declaración de impuestos. Filing taxes 2014 Los dividendos son distribuciones de dinero, acciones u otras clases de bienes que le paga a usted una sociedad anónima o fondo mutuo. Filing taxes 2014 Puede recibir también dividendos a través de una sociedad colectiva, un caudal hereditario, un fideicomiso o una asociación a la que se le gravan impuestos como a una sociedad anónima. Filing taxes 2014 Sin embargo, algunas cantidades recibidas por usted y denominadas dividendos, son de hecho ingresos de intereses. Filing taxes 2014 Vea Dividendos que en realidad son intereses , bajo Intereses Sujetos a Impuestos, en el capítulo 7. Filing taxes 2014 La mayoría de las distribuciones se pagan en efectivo (o con cheque). Filing taxes 2014 No obstante, las distribuciones pueden consistir en más acciones, derechos de suscripción de acciones u otros bienes o servicios adicionales. Filing taxes 2014 Useful Items - You may want to see: Publicación 514 Foreign Tax Credit for Individuals (Crédito por impuestos del extranjero para personas físicas), en inglés 550 Investment Income and Expenses (Ingresos y gastos de inversiones), en inglés Formulario (e Instrucciones) Anexo B (Formulario 1040A o 1040) Interest and Ordinary Dividends (Intereses y dividendos ordinarios), en inglés Información General Esta sección explica las reglas generales sobre ingresos de dividendos. Filing taxes 2014 Impuesto sobre ingresos no derivados del trabajo de determinados hijos. Filing taxes 2014   El impuesto sobre una parte del ingreso no derivado del trabajo recibido por un hijo en 2013 puede ser tributado a la tasa impositiva correspondiente de los padres. Filing taxes 2014 Si es así, tiene que completar el Formulario 8615, Tax for Certain Children Who Have Unearned Income (Impuestos para determinados hijos que tienen ingresos no derivados del trabajo), en inglés, y adjuntarlo a la declaración de impuestos del hijo. Filing taxes 2014 Si no es así, no se requiere el Formulario 8615 y los ingresos del menor están sujetos a la tasa impositiva que le corresponde. Filing taxes 2014       Algunos padres o madres pueden optar por incluir los intereses y dividendos del hijo en la declaración de impuestos del padre o la madre si se cumplen ciertos requisitos. Filing taxes 2014 Si puede, utilice el Formulario 8814, Parents' Election To Report Child's Interest and Dividends (Elección del padre o de la madre de declarar los intereses y dividendos de un hijo), en inglés, para este propósito. Filing taxes 2014   Si desea obtener más información sobre el impuesto sobre los ingresos no derivados del trabajo de un hijo y la elección de los padres, vea el capítulo 31. Filing taxes 2014 Beneficiario de un caudal hereditario o fideicomiso. Filing taxes 2014    Los dividendos y otras distribuciones que reciba como beneficiario de un caudal hereditario o de un fideicomiso por lo general se consideran ingresos tributables. Filing taxes 2014 El fiduciario debería enviarle un Anexo K-1 (Formulario 1041), Beneficiary's Share of Income, Deductions, Credits, etc. Filing taxes 2014 (Parte del ingreso, deducciones, créditos, etc. Filing taxes 2014 , de un beneficiario), en inglés. Filing taxes 2014 Su copia del Anexo K-1 (Formulario 1041) e instrucciones le indicarán dónde debe declarar los ingresos en el Formulario 1040. Filing taxes 2014 Número de Seguro Social (SSN, por sus siglas en inglés) o número de identificación de contribuyente individual (ITIN por sus siglas en inglés). Filing taxes 2014    Tiene que darle su nombre y número de Seguro Social (o su número de identificación de contribuyente individual (ITIN, por sus siglas en inglés)) a toda persona que esté obligada por la ley federal de impuestos a expedir una declaración, un informe u otro documento relacionado con usted. Filing taxes 2014 Esto incluye las entidades que pagan dividendos. Filing taxes 2014 Es posible que tenga que pagar una multa si no le proporciona su número de Seguro Social o su número de identificación de contribuyente individual (ITIN) a la entidad que paga los dividendos. Filing taxes 2014 Para obtener más información sobre los números de Seguro Social y los números de identificación de contribuyente individual, vea Número de Seguro Social en el capítulo 1. Filing taxes 2014 Retención adicional. Filing taxes 2014   El ingreso de dividendos por lo general no está sujeto a la retención normal. Filing taxes 2014 Sin embargo, podría estar sujeto a la retención adicional de impuestos para asegurar que el impuesto sobre el ingreso sea recaudado sobre ese ingreso. Filing taxes 2014 Conforme a la retención adicional de impuestos, la entidad que paga los dividendos tiene que retener impuestos sobre los ingresos de la cantidad que le paga a usted, aplicándo la tasa de retención correspondiente. Filing taxes 2014   También puede requerirse una retención adicional de impuestos si el IRS ha determinado que usted ha declarado una cantidad inferior de ingresos de intereses o dividendos de lo que dn verdad recibió. Filing taxes 2014 Para más información, vea Retención Adicional , en el capítulo 4. Filing taxes 2014 Certificado de acciones a nombre de dos o más personas. Filing taxes 2014   Si dos o más personas tienen acciones de propiedad conjunta, propiedad en tenencia conyugal o propiedad en tenencia común, la parte de los dividendos de las acciones que le corresponde a cada persona está determinada por las leyes locales. Filing taxes 2014 Formulario 1099-DIV. Filing taxes 2014   La mayoría de las sociedades anónimas y fondos mutuos usan el Formulario 1099-DIV, Dividends and Distributions (Dividendos y distribuciones), en inglés, para informarle de las distribuciones que recibió de ellas durante el año. Filing taxes 2014 Guarde este formulario con su documentación. Filing taxes 2014 No tiene que adjuntar el formulario a su declaración de impuestos. Filing taxes 2014 Dividendos no declarados en el Formulario 1099-DIV. Filing taxes 2014   Aun si no recibe el Formulario 1099-DIV, tendrá que declarar todos sus ingresos de dividendos sujetos a impuestos. Filing taxes 2014 Por ejemplo, podría recibir acciones repartidas de dividendos de sociedades colectivas o de sociedades anónimas de tipo S. Filing taxes 2014 A usted se le informa de dichos dividendos en el Anexo K-1 (del Formulario 1065), Partner's Share of Income, Deductions, Credits, etc. Filing taxes 2014 (Parte de los ingresos, deducciones, créditos, etc. Filing taxes 2014 , correspondiente al socio), en inglés, y en el Anexo K-1 (del Formulario 1120S), Shareholder's Share of Income, Deductions, Credits, etc. Filing taxes 2014 (Parte de los ingresos, deducciones, créditos, etc. Filing taxes 2014 , correspondiente al accionista), en inglés. Filing taxes 2014 Cómo se le informa del impuesto retenido. Filing taxes 2014   Si se le retienen impuestos sobre su ingreso de dividendos, el pagador tiene que darle un Formulario 1099-DIV que indica la cantidad retenida. Filing taxes 2014 Nominatarios. Filing taxes 2014   Si alguien recibe distribuciones como nominatario suyo, esa persona le dará un Formulario 1099-DIV que indicará las distribuciones recibidas en nombre de usted. Filing taxes 2014 Formulario 1099-MISC. Filing taxes 2014   A usted se le tiene que informar de ciertos pagos sustitutivos en lugar de dividendos o intereses exentos de impuestos que recibe de un agente corredor bursátil en su nombre en el Formulario 1099-MISC, Miscellaneous Income (Ingresos misceláneos), en inglés, o en un documento similar. Filing taxes 2014 Vea Reporting Substitute Payments (Cómo informar de pagos sustitutivos), bajo Short Sales (Ventas a corto al descubierto), en el capítulo 4 de la Publicación 550, en inglés, para más información sobre cómo informar de estos pagos. Filing taxes 2014 Cantidad incorrecta que aparece en un Formulario 1099. Filing taxes 2014   Si recibe un Formulario 1099 que indica una cantidad incorrecta (u otra información incorrecta), debe pedirle a la persona que le dio el formulario que le envíe otro formulario corregido. Filing taxes 2014 En el nuevo Formulario 1099 que recibirá aparecerá la palabra “ Corrected ” (Corregido). Filing taxes 2014 Dividendos de acciones vendidas. Filing taxes 2014   Si se venden o intercambian acciones, o si se enajenan de otra manera después de que se declare un dividendo pero antes de ser pagado, el dueño oficial (usualmente la persona a quien se le expide el cheque de dividendos) tiene que incluir el dividendo en sus ingresos. Filing taxes 2014 Dividendos recibidos en enero. Filing taxes 2014   A usted se le considera que ha recibido un dividendo el 31 de diciembre si un fondo mutuo (u otra compañía de inversiones reglamentada) o una sociedad de inversión inmobiliaria (REIT, por sus siglas en inglés) declara un dividendo (incluyendo todo dividendo que produzca intereses exentos o una distribución de ganancias de capital) en octubre, noviembre o diciembre, pagadero a los accionistas oficiales en una fecha de uno de estos meses, pero que realmente paga el dividendo durante enero del próximo año calendario. Filing taxes 2014 Usted tiene que declarar el dividendo en el año en que fue declarado. Filing taxes 2014 Dividendos Ordinarios Los dividendos ordinarios (sujetos a impuestos) son la distribución más común hecha por una sociedad anónima o un fondo mutuo. Filing taxes 2014 Se pagan usando ingresos y ganancias y son considerados ingresos ordinarios para usted. Filing taxes 2014 Esto significa que no son ganancias de capital. Filing taxes 2014 Puede suponer que todo dividendo que reciba de acciones comunes o preferentes es un dividendo ordinario a menos que la sociedad anónima o el fondo mutuo que efectúa el pago le indique lo contrario. Filing taxes 2014 Los dividendos ordinarios se muestran en el recuadro 1a del Formulario 1099-DIV que usted reciba. Filing taxes 2014 Dividendos Calificados Los dividendos calificados son los dividendos ordinarios sujetos a la misma tasa impositiva máxima del 0%, 15% o 20% que corresponde a las ganancias netas de capital. Filing taxes 2014 Deben indicarse en el recuadro 1b del Formulario 1099-DIV que reciba. Filing taxes 2014 La tasa máxima del impuesto sobre los dividendos calificados es: 0% sobre toda cantidad que de otro modo se le impondrían impuestos a una tasa del 10% o del 15%. Filing taxes 2014 15% sobre toda cantidad que de otro modo se le impondrían impuestos a tasas mayores de 15%, pero menores de 39. Filing taxes 2014 6%. Filing taxes 2014 20% sobre toda cantidad que de otro modo se le impondrían impuestos a una tasa de 39. Filing taxes 2014 6%. Filing taxes 2014 Para tener derecho a la tasa impositiva máxima, todos los requisitos siguientes tienen que cumplirse: Los dividendos tienen que haber sido pagados por una sociedad anónima estadounidense o una sociedad anónima extranjera calificada. Filing taxes 2014 Vea Sociedad anónima extranjera calificada , más adelante. Filing taxes 2014 Los dividendos no tienen la misma clasificación que aquéllos incluidos más adelante bajo Dividendos que no son dividendos calificados . Filing taxes 2014 Usted cumple el período de tenencia (tema que se explica a continuación). Filing taxes 2014 Período de tenencia. Filing taxes 2014   Usted tiene que haber tenido las acciones por más de 60 días durante el período de 121 días que comienza 60 días antes de la fecha del ex dividendo. Filing taxes 2014 La fecha del ex dividendo es la primera fecha que sigue a la declaración del dividendo en la cual el comprador de las acciones no tiene derecho a recibir el siguiente pago de dividendos. Filing taxes 2014 En su lugar, el vendedor recibirá el dividendo. Filing taxes 2014   Cuando cuente el número de días que tuvo las acciones, incluya el día en que enajenó las acciones, pero no el día en que las adquirió. Filing taxes 2014 Vea los ejemplos más adelante. Filing taxes 2014 Excepción para acciones preferentes. Filing taxes 2014   En el caso de acciones preferentes, tiene que haber tenido las acciones por más de 90 días durante el período de 181 días que comienza 90 días antes de la fecha del ex dividendo, si los dividendos se deben a períodos cuyo total es más de 366 días. Filing taxes 2014 Si los dividendos preferentes se deben a períodos cuyo total es menos de 367 días, les corresponde el período de tenencia del párrafo anterior. Filing taxes 2014 Ejemplo 1. Filing taxes 2014 Usted compró 5,000 acciones ordinarias de la Compañía XYZ el 9 de julio de 2013. Filing taxes 2014 La Compañía XYZ pagó un dividendo en efectivo de 10 centavos por cada acción. Filing taxes 2014 La fecha del ex dividendo fue el 16 de julio de 2013. Filing taxes 2014 El Formulario 1099-DIV de la Compañía XYZ muestra $500 en el recuadro 1a (dividendos ordinarios) y en el recuadro 1b (dividendos calificados). Filing taxes 2014 No obstante, usted vendió las 5,000 acciones el 12 de agosto de 2013. Filing taxes 2014 Tuvo las acciones de la Compañía XYZ por sólo 34 días del período de 121 días (desde el 10 de julio de 2013 hasta el 12 de agosto de 2013). Filing taxes 2014 El período de 121 días comenzó el 17 de mayo de 2013 (60 días antes de la fecha del ex dividendo) y terminó el 14 de septiembre de 2013. Filing taxes 2014 Usted no tiene dividendos calificados de la Compañía XYZ porque tuvo las acciones de la compañía por menos de 61 días. Filing taxes 2014 Ejemplo 2. Filing taxes 2014 Suponga que los hechos son los mismos que en el Ejemplo 1, excepto que compró las acciones el 15 de julio de 2013 (el día antes de la fecha del ex dividendo) y vendió las acciones el 16 de septiembre de 2013. Filing taxes 2014 Usted tuvo las acciones por 63 días (desde el 16 de julio de 2013 hasta el 16 de septiembre de 2013). Filing taxes 2014 Los $500 de dividendos calificados mostrados en el recuadro 1b del Formulario 1099-DIV son en su totalidad dividendos calificados porque tuvo las acciones por 61 días del período de 121 días (desde el 16 de julio de 2013 hasta el 14 de septiembre de 2013). Filing taxes 2014 Ejemplo 3. Filing taxes 2014 Usted compró 10,000 acciones ordinarias del Fondo Mutuo ABC el 9 de julio de 2013. Filing taxes 2014 El Fondo Mutuo ABC pagó un dividendo en efectivo de 10 centavos por cada acción. Filing taxes 2014 La fecha del ex dividendo fue el 16 de julio de 2013. Filing taxes 2014 El Fondo Mutuo ABC le informa que la parte del dividendo que puede ser tratada como dividendos calificados equivale a 2 centavos por cada acción. Filing taxes 2014 El Formulario 1099-DIV del Fondo Mutuo ABC muestra dividendos ordinarios de $1,000 y dividendos calificados de $200. Filing taxes 2014 Sin embargo, usted vendió las 10,000 acciones el 12 de agosto de 2013. Filing taxes 2014 No tiene dividendos calificados del Fondo Mutuo ABC porque tuvo las acciones del Fondo Mutuo ABC menos de 61 días. Filing taxes 2014 Reducción del período de tenencia cuando disminuya el riesgo de pérdida. Filing taxes 2014   Al determinar si usted cumplió el período mínimo de tenencia del que se habló anteriormente, no puede contar ningún día durante el cual se cumpliera alguna de las situaciones siguientes: Tuvo una opción para vender, estaba bajo obligación por contrato de venta o había hecho (pero no cerrado) una venta al descubierto de acciones o valores sustancialmente iguales. Filing taxes 2014 Era el otorgante (girador) de una opción de compra de acciones o valores bursátiles sustancialmente iguales. Filing taxes 2014 Su riesgo de pérdida disminuye por tener una o más posiciones en bienes sustancialmente iguales o afines. Filing taxes 2014   Para información sobre cómo aplicar la condición (3), vea la sección 1. Filing taxes 2014 246-5 de los Reglamentos. Filing taxes 2014 Sociedad anónima extranjera calificada. Filing taxes 2014   Una sociedad anónima extranjera es una compañía extranjera calificada si cumple alguna de las siguientes condiciones: La sociedad anónima está incorporada (constituida legalmente) en un territorio de los Estados Unidos. Filing taxes 2014 La sociedad anónima reúne los requisitos para recibir los beneficios de un tratado amplio de impuestos sobre el ingreso con los Estados Unidos que el Departamento del Tesoro considere satisfactorio para este propósito y que incluya un programa de intercambio de información. Filing taxes 2014 Para una lista de estos tratados, vea la Tabla 8-1. Filing taxes 2014 La sociedad anónima no cumple las condiciones (1) o (2) anteriores, pero las acciones por las cuales se paga el dividendo son comercializables en un mercado de valores bursátiles establecido en los Estados Unidos. Filing taxes 2014 Vea Acciones comercializables listadas , más adelante. Filing taxes 2014 Excepción. Filing taxes 2014   Una sociedad anónima no es una sociedad anónima extranjera calificada si es una compañía extranjera de inversiones pasivas durante el año tributario en el cual se pagan los dividendos o durante el año tributario anterior. Filing taxes 2014 Acciones comercializables listadas. Filing taxes 2014   Todas las acciones (tales como acciones comunes, ordinarias o preferentes) o recibos de depósito estadounidenses respecto a esas acciones, satisfacen el requisito (3), mencionado anteriormente bajo Sociedad anónima extranjera calificada , si se listan (cotizan) en una bolsa de valores nacional que está inscrita conforme a la sección 6 de la Securities Exchange Act (Ley de la Bolsa de Valores) de 1934 o en el Mercado de Valores Nasdaq. Filing taxes 2014 Si desea ver una lista de las bolsas que reúnen estos requisitos, vea www. Filing taxes 2014 sec. Filing taxes 2014 gov/divisions/marketreg/mrexchanges. Filing taxes 2014 shtml, en inglés. Filing taxes 2014 Dividendos que no son dividendos calificados. Filing taxes 2014   Los dividendos enumerados a continuación no son dividendos calificados. Filing taxes 2014 No son dividendos calificados aunque se encuentren indicados en el recuadro 1b del Formulario 1099-DIV. Filing taxes 2014 Distribuciones de ganancias de capital. Filing taxes 2014 Dividendos pagados sobre depósitos en cajas mutuas de ahorros, bancos cooperativos, cooperativas de crédito, asociaciones de crédito a la construcción estadounidenses, asociaciones de préstamo y ahorro estadounidenses, asociaciones federales de préstamo y ahorro e instituciones financieras similares. Filing taxes 2014 Declare estos ingresos como ingreso de intereses. Filing taxes 2014 Dividendos de una sociedad anónima que es una organización exenta de impuestos o una cooperativa agrícola durante el año tributario de la sociedad anónima en el cual se pagaron los dividendos o durante el año tributable anterior de la sociedad anónima. Filing taxes 2014 Dividendos pagados por una sociedad anónima sobre valores bursátiles del empleador tenidos en la fecha de registro por un plan de compra de acciones para empleados (ESOP, por sus siglas en inglés) mantenido por esa sociedad anónima. Filing taxes 2014 Dividendos sobre acciones hasta el punto que usted esté obligado (ya sea por venta al descubierto o de otra manera) a hacer pagos afines por posiciones en bienes sustancialmente similares o relacionados. Filing taxes 2014 Pagos en lugar de dividendos, pero sólo si usted sabe o tiene razón de saber que los pagos no son dividendos calificados. Filing taxes 2014 Pagos mostrados en el recuadro 1b del Formulario 1099-DIV, provenientes de una sociedad anónima extranjera hasta el punto que usted sepa o tenga razón de saber que los pagos no son dividendos calificados. Filing taxes 2014 Tabla 8-1. Filing taxes 2014 Tratados de Impuestos sobre los Ingresos Los tratados de impuestos sobre los ingresos que los Estados Unidos tiene con los siguientes países cumplen la condición (2) bajo Sociedad anónima extranjera calificada. Filing taxes 2014       Australia India Reino Austria Indonesia Unido Alemania Irlanda República Bangladesh Islandia Checa Barbados Israel República Bélgica Italia Eslovaca Bulgaria Jamaica Rumania Canadá Japón Sri Lanka China Kazajstán Suecia Chipre Letonia Suiza Corea Lituania Sudáfrica Dinamarca Luxemburgo Tailandia Egipto Malta Trinidad y Eslovenia Marruecos Tobago España México Túnez Estonia Noruega Turquía Federación Nueva Ucrania Rusa Zelandia Venezuela Filipinas Países Bajos (Holanda)   Finlandia Paquistán   Francia Polonia   Grecia Portugal   Hungría       Dividendos Utilizados para la Compra de más Acciones La sociedad anónima en la cual usted tiene acciones podría tener un plan para la reinversión de dividendos. Filing taxes 2014 Tales planes le permiten optar por el uso de sus dividendos para comprar (por medio de un agente) más acciones en la sociedad anónima en vez de recibir los dividendos en efectivo. Filing taxes 2014 La mayoría de los fondos de inversión también permiten a los accionistas reinvertir automáticamente las distribuciones para comprar más acciones en el fondo en lugar de recibir dinero en efectivo. Filing taxes 2014 Si utiliza los dividendos para comprar más acciones al precio justo de mercado, todavía tiene que declarar los dividendos como ingreso. Filing taxes 2014 Si es miembro de un plan de reinversión de dividendos que le permite comprar más acciones a un precio menor del precio justo de mercado, tiene que declarar como ingreso de dividendos el valor justo de mercado de las acciones adicionales el día del pago de los dividendos. Filing taxes 2014 También tiene que declarar como ingreso de dividendos todos los cargos por servicios restados de sus dividendos en efectivo antes de que los dividendos sean utilizados para comprar acciones adicionales. Filing taxes 2014 Pero tal vez pueda deducir el cargo por servicios. Filing taxes 2014 Vea el capítulo 28 para más información sobre la deducción de gastos relativos a la producción de ingresos. Filing taxes 2014 En algunos planes de reinversión de dividendos, se puede invertir más efectivo para comprar acciones a un precio menor del valor justo de mercado. Filing taxes 2014 Si elige hacer esto, tiene que declarar como ingreso de dividendos la diferencia entre el efectivo que invierte y el valor justo de mercado de las acciones que compra. Filing taxes 2014 Al calcular esta cantidad, utilice el valor justo de mercado de las acciones el día del pago del dividendo. Filing taxes 2014 Fondos de Inversión del Mercado Monetario Declare las cantidades que reciba de fondos de inversión del mercado monetario como ingreso de dividendos. Filing taxes 2014 Los fondos de inversión del mercado monetario son una clase de fondo mutuo y no deben ser confundidos con cuentas bancarias del mercado monetario que pagan intereses. Filing taxes 2014 Distribuciones de Ganancias de Capital Las distribuciones de ganancias de capital (se denominan también dividendos de ganancias de capital) le son pagadas a usted o acreditadas a su cuenta por fondos mutuos (u otras sociedades inversionistas reglamentadas) y sociedades de inversión inmobiliaria (REIT, por sus siglas en inglés). Filing taxes 2014 Estas distribuciones se mostrarán en el recuadro 2a del Formulario 1099-DIV que recibe del fondo mutuo o de la sociedad de inversión inmobiliaria. Filing taxes 2014 Declare las distribuciones de ganancias de capital como ganancias de capital a largo plazo independientemente de cuánto tiempo usted haya tenido las acciones en el fondo mutuo o en la sociedad de inversión inmobiliaria. Filing taxes 2014 Ganancias de capital no distribuidas provenientes de fondos mutuos y sociedades de inversión inmobiliaria. Filing taxes 2014    Algunos fondos mutuos y sociedades de inversión inmobiliaria retienen sus ganancias de capital a largo plazo y pagan impuesto sobre ellas. Filing taxes 2014 Tiene que tratar su parte de estas ganancias como distribuciones, aunque en realidad no las reciba. Filing taxes 2014 Sin embargo, éstas no se incluyen en el Formulario 1099-DIV. Filing taxes 2014 En lugar de esto, a usted se le informa de dichas ganancias en el recuadro 1a del Formulario 2439 (en inglés). Filing taxes 2014   Declare las ganancias de capital no distribuidas (recuadro 1a del Formulario 2439) como ganancias de capital a largo plazo en la columna (h) en la línea 11 del Anexo D (Formulario 1040). Filing taxes 2014   Los impuestos pagados sobre estas ganancias por el fondo mutuo o la sociedad de inversión inmobiliaria se pueden ver en el recuadro 2 del Formulario 2439. Filing taxes 2014 Para que el pago de dichos impuestos se le acredite a usted, anótelos en la línea 71 del Formulario 1040 y marque el recuadro “ a ” en esa línea. Filing taxes 2014 Adjunte la Copia B del Formulario 2439 a su declaración y mantenga la Copia C para sus archivos. Filing taxes 2014 Ajuste a la base. Filing taxes 2014   Aumente la base del fondo mutuo o sus intereses en una sociedad de inversión inmobiliaria por la diferencia entre la ganancia que declare y la cantidad de impuesto pagado que se le acredite a usted. Filing taxes 2014 Información adicional. Filing taxes 2014   Para más información sobre el trato dado a las distribuciones de fondos mutuos, vea la Publicación 550, en inglés. Filing taxes 2014 Distribuciones que no son Dividendos Una distribución que no sea en forma de dividendo es una distribución que no se paga de los ingresos y ganancias de una sociedad anónima o un fondo mutuo. Filing taxes 2014 Usted debe recibir un Formulario 1099-DIV u otro estado de cuentas mostrándole la distribución que no sea en forma de dividendo. Filing taxes 2014 En el Formulario 1099-DIV, una distribución que no sea en forma de dividendo se mostrará en el recuadro 3. Filing taxes 2014 Si no recibe tal estado de cuentas, declare la distribución como un dividendo ordinario. Filing taxes 2014 Ajuste a la base. Filing taxes 2014   Una distribución que no sea en forma de dividendo reduce la base de sus acciones. Filing taxes 2014 No se le gravan impuestos hasta que su base en las acciones se recupere por completo. Filing taxes 2014 Esta parte no sujeta a impuestos también se denomina rendimiento de capital. Filing taxes 2014 Es un rendimiento de la inversión en las acciones de la empresa. Filing taxes 2014 Si compra acciones de una sociedad anónima en lotes diferentes y en diferentes ocasiones y no puede identificar definitivamente las acciones sujetas a las distribuciones que no sean en forma de dividendos, reduzca la base de las acciones que compró primero. Filing taxes 2014   Cuando la base de las acciones haya sido reducida a cero, declare como una ganancia de capital toda distribución adicional que reciba que no sea en forma de dividendos. Filing taxes 2014 Dependiendo de cuánto tiempo haya tenido las acciones, las declara como una ganancia de capital a largo plazo o como una ganancia de capital a corto plazo. Filing taxes 2014 Vea el tema titulado Período de Tenencia , en el capítulo 14. Filing taxes 2014 Ejemplo. Filing taxes 2014 Usted compró acciones en el año 2000 por $100. Filing taxes 2014 En el año 2003, recibió una distribución que no es dividendo de $80. Filing taxes 2014 No incluyó esta cantidad en su ingreso, pero redujo la base de las acciones a $20. Filing taxes 2014 Recibió una distribución que no es dividendo de $30 en el año 2013. Filing taxes 2014 Los primeros $20 de esta cantidad redujeron su base a cero. Filing taxes 2014 Usted declara los otros $10 como ganancia de capital a largo plazo para el año 2013. Filing taxes 2014 Debe declarar como ganancia de capital a largo plazo toda distribución sobre estas acciones que no sea en forma de dividendo que reciba en los siguientes años. Filing taxes 2014 Distribuciones de Liquidación Las distribuciones de liquidación, a veces conocidas como dividendos de liquidación, son distribuciones que se reciben durante una liquidación parcial o completa de una sociedad anónima. Filing taxes 2014 Estas distribuciones son, por lo menos en parte, un tipo de rendimiento del capital. Filing taxes 2014 Pueden pagarse en uno o más plazos. Filing taxes 2014 Usted recibirá un Formulario 1099-DIV de la sociedad anónima mostrándole la cantidad de una distribución de liquidación en el recuadro 8 ó 9. Filing taxes 2014 Para más información sobre las distribuciones de liquidación, vea el capítulo 1 de la Publicación 550, en inglés. Filing taxes 2014 Distribuciones de Acciones y Derechos a Acciones Las distribuciones hechas por una sociedad anónima de sus propias acciones son comúnmente conocidas como dividendos de acciones. Filing taxes 2014 Los derechos a acciones (también conocidos como “opción de compra de acciones”) son distribuciones hechas por una sociedad anónima de derechos para adquirir acciones de la misma. Filing taxes 2014 Por lo general, los dividendos de acciones y los derechos a acciones no están sujetos a impuestos para usted y no los declara en la declaración de impuestos. Filing taxes 2014 Dividendos de acciones y derechos a acciones sujetos a impuestos. Filing taxes 2014   Las distribuciones de dividendos de acciones y de derechos a acciones están sujetas a impuestos en su caso si se cumple alguna de las siguientes condiciones: Usted o algún otro accionista tiene la opción de recibir dinero en efectivo u otros bienes en vez de recibir acciones o derechos a acciones. Filing taxes 2014 La distribución les da dinero en efectivo u otra propiedad a algunos accionistas y un aumento en el porcentaje de intereses en los bienes o ingresos y ganancias de la sociedad anónima a otros accionistas. Filing taxes 2014 La distribución se puede convertir en acciones preferentes y tiene el mismo resultado que en el punto (2). Filing taxes 2014 La distribución les da acciones preferentes a algunos accionistas dueños de acciones comunes y les da acciones comunes a otros accionistas dueños de acciones comunes. Filing taxes 2014 La distribución es sobre acciones prefe- rentes. Filing taxes 2014 Sin embargo, la distribución no está sujeta a impuestos si es un aumento en la proporción de conversión de las acciones preferentes convertibles hecho solamente para tener en cuenta un dividendo de acciones, un cambio proporcional en la cantidad de acciones de una sociedad anónima o un suceso similar que de otra manera resultaría en la reducción del derecho de conversión. Filing taxes 2014   El término “acciones” incluye el derecho de adquirir acciones y el término “accionista” incluye al tenedor de derechos o de valores bursátiles convertibles. Filing taxes 2014 Si usted recibe dividendos de acciones o derechos a acciones sujetos a impuesto, incluya en sus ingresos el valor justo de mercado en la fecha de distribución. Filing taxes 2014 Acciones preferentes rescatables por una prima. Filing taxes 2014   Si tiene acciones preferentes a un precio de rescate más alto que su precio de emisión, la diferencia (la prima de rescate) generalmente está sujeta a impuestos por concepto de una distribución implícita de acciones adicionales sobre acciones preferentes. Filing taxes 2014 Para más información, vea el capítulo 1 de la Publicación 550, en inglés. Filing taxes 2014 Base. Filing taxes 2014   La base en acciones o derechos a acciones recibidas en una distribución tributable es el valor justo de mercado en el momento que fueron distribuidas. Filing taxes 2014 Si recibe acciones o derechos a acciones que no son tributables a usted, vea el tema titulado Stocks and Bonds (Acciones y bonos) bajo Basis of Investment Property (Base de bienes de inversión), en el capítulo 4 de la Publicación 550, en inglés, para más información sobre cómo calcular la base. Filing taxes 2014 Acciones fraccionarias. Filing taxes 2014    Es posible que no posea suficientes acciones en una sociedad anónima para recibir una participación completa de las acciones si la sociedad anónima declara un dividendo de acciones. Filing taxes 2014 Sin embargo, con la aprobación de los accionistas, la sociedad anónima podría establecer un plan mediante el cual las acciones fraccionarias no sean emitidas sino que sean vendidas y las ganancias en efectivo se entreguen a los accionistas. Filing taxes 2014 Todo efectivo que reciba por acciones fraccionarias bajo tal clase de plan se considera una cantidad realizada en la venta de las acciones fraccionarias. Filing taxes 2014 Declare esta transacción en el Formulario 8949, Sales and Other Dispositions of Capital Assets (Ventas y otras enajenaciones de bienes de capital), en inglés. Filing taxes 2014 Anote su ganancia o pérdida, la diferencia entre el efectivo que usted recibe y la base de las acciones fraccionarias vendidas en la columna (h) del Anexo D (Formulario 1040) en la Parte I o Parte II, la que corresponda. Filing taxes 2014    Declare esta transacción en el Formulario 8949 marcando el recuadro correcto. Filing taxes 2014   Para más información sobre el Formulario 8949 y el Anexo D (Formulario 1040), vea el capítulo 4 de la Publicación 550. Filing taxes 2014 También vea las instrucciones para el Formulario 8949 y las instruccinoes para el Anexo D (Formulario 1040). Filing taxes 2014 Ejemplo. Filing taxes 2014 Usted es dueño de una acción común que compró el 3 de enero de 2004 por $100. Filing taxes 2014 La sociedad anónima declaró un dividendo de acciones comunes del 5% el 29 de junio de 2013. Filing taxes 2014 El valor justo de mercado de las acciones en el momento en que se declaró el dividendo de acciones era $200. Filing taxes 2014 A usted le pagaron $10 por el dividendo de acciones fraccionarias bajo un plan descrito en la sección titulada Acciones fraccionarias. Filing taxes 2014 Usted calcula su ganancia o pérdida de la manera siguiente: Valor justo de mercado de las acciones antiguas $200. Filing taxes 2014 00 Valor justo de mercado del dividendo de acciones (efectivo recibido) +10. Filing taxes 2014 00 Valor justo de mercado de las acciones antiguas y del dividendo de acciones $210. Filing taxes 2014 00 Base (costo) de las acciones antiguas después del dividendo de acciones (($200 ÷ $210) × $100) $95. Filing taxes 2014 24 Base (costo) del dividendo de acciones (($10 ÷ $210) × $100) + 4. Filing taxes 2014 76 Total $100. Filing taxes 2014 00 Efectivo recibido $10. Filing taxes 2014 00 Base (costo) del dividendo de acciones − 4. Filing taxes 2014 76 Ganancia $5. Filing taxes 2014 24 Debido a que había tenido la acción por más de 1 año en el momento en que se declaró el dividendo de acciones, su ganancia en el dividendo de acciones es una ganancia de capital a largo plazo. Filing taxes 2014 Certificado de dividendo diferido. Filing taxes 2014   Una sociedad anónima que declara un dividendo de acciones podría emitirle a usted un certificado de dividendo de acciones diferido que le da el derecho a acciones fraccionarias. Filing taxes 2014 El certificado no suele estar sujeto a impuestos cuando usted lo recibe. Filing taxes 2014 Si elige que la sociedad anónima venda el certificado por usted y le entregue las ganancias, su ganancia o pérdida es la diferencia entre las ganancias y la parte de su base en las acciones de la sociedad anónima asignada en el certificado. Filing taxes 2014   No obstante, si recibe un certificado de dividendo de acciones diferido y puede optar por rescatarlo por efectivo en vez de acciones, el certificado está sujeto a impuestos cuando lo reciba. Filing taxes 2014 Tiene que incluir en sus ingresos el valor justo de mercado del certificado en la fecha en que lo recibió. Filing taxes 2014 Otras Distribuciones Usted podría recibir alguna de las siguientes distribuciones durante el año. Filing taxes 2014 Dividendos con intereses exentos. Filing taxes 2014   Los dividendos que producen intereses exentos de impuestos que recibe de un fondo mutuo u otra compañía de inversiones reglamentada, incluyendo aquellos recibidos de un fondo calificado en cualquier año tributario que comience después del 22 de diciembre del 2010, no se incluyen en los ingresos sujetos a impuestos. Filing taxes 2014 Los dividendos con intereses exentos deben aparecer en el recuadro 10 del Formulario 1099-DIV. Filing taxes 2014 Requisito de declarar ciertos datos. Filing taxes 2014   Aunque los dividendos con intereses exentos no están sujetos a impuestos, tiene que informar de los mismos en la declaración de impuestos si tiene que presentar una declaración. Filing taxes 2014 Esto es un requisito de declarar datos y no hace que dichos dividendos con intereses exentos se cambien a ingresos sujetos a impuestos. Filing taxes 2014 Tratamiento del impuesto mínimo alternativo. Filing taxes 2014   Los dividendos que produzcan intereses exentos y que se hayan pagado de bonos de actividad privada especificados podrían estar sujetos al impuesto mínimo alternativo. Filing taxes 2014 Vea el tema titulado Impuesto Mínimo Alternativo (AMT) en el capítulo 30 para más información. Filing taxes 2014 Dividendos de pólizas de seguro. Filing taxes 2014    Los dividendos de pólizas de seguro que el asegurador retiene y utiliza para pagar sus primas no están sujetos a impuestos. Filing taxes 2014 No obstante, tiene que declarar como ingreso de intereses sujeto a impuestos los intereses que se paguen o acrediten sobre los dividendos dejados con la compañía de seguros. Filing taxes 2014    Si los dividendos de un contrato de seguros (que no sea un contrato de seguro dotal modificado) le son distribuidos a usted, éstos son una devolución parcial de las primas que usted pagó. Filing taxes 2014 No los incluya en su ingreso bruto hasta que sean mayores al total de todas las primas netas que usted pagó por el contrato. Filing taxes 2014 Declare todas las distribuciones sujetas a impuestos de pólizas de seguro en la línea 21 del Formulario 1040. Filing taxes 2014 Dividendos del seguro para veteranos. Filing taxes 2014   Los dividendos que reciba de pólizas de seguro para veteranos no están sujetos a impuestos. Filing taxes 2014 Además, los intereses de dividendos dejados en depósito con el Department of Veterans Affairs (Departamento de Asuntos de Veteranos) no están sujetos a impuestos. Filing taxes 2014 Dividendos de patrocinio. Filing taxes 2014   Generalmente, los dividendos de patrocinio que reciba en dinero de una organización cooperativa están incluidos en sus ingresos. Filing taxes 2014   No incluya en sus ingresos dividendos de patrocinio que reciba por: Propiedad comprada para uso personal o Bienes de capital o propiedad depreciable comprados para uso en su negocio. Filing taxes 2014 Pero tiene que reducir la base (costo) de los artículos comprados. Filing taxes 2014 Si el dividendo es mayor a la base ajustada de los bienes, deberá declarar el exceso como ingreso. Filing taxes 2014   Estas reglas son las mismas independientemente de si la cooperativa que paga el dividendo es una cooperativa sujeta a impuestos o no. Filing taxes 2014 Dividendos del Alaska Permanent Fund (Fondo Permanente de Alaska). Filing taxes 2014    No declare las cantidades que reciba del Alaska Permanent Fund como dividendos. Filing taxes 2014 Declare estas cantidades en la línea 21 del Formulario 1040, la línea 13 del Formulario 1040A o la línea 3 del Formulario 1040EZ. Filing taxes 2014 Cómo Declarar el Ingreso de Dividendos Por lo general, se puede utilizar el Formulario 1040 o el Formulario 1040A para declarar el ingreso de dividendos. Filing taxes 2014 Declare el total de sus dividendos ordinarios en la línea 9a del Formulario 1040 o del Formulario 1040A. Filing taxes 2014 Declare los dividendos calificados en la línea 9b del Formulario 1040 o el Formulario 1040A. Filing taxes 2014 Si recibe una distribución de ganancias de capital, quizás pueda utilizar el Formulario 1040A o quizás tenga que utilizar el Formulario 1040. Filing taxes 2014 Vea Excepciones a la presentación del Formulario 8949 y el Anexo D (Formulario 1040) , en el capítulo 16. Filing taxes 2014 Si recibe distribuciones que no son dividendos pero que deben declararse como ganancias de capital, tendrá que utilizar el Formulario 1040. Filing taxes 2014 No puede utilizar el Formulario 1040EZ si recibe ingresos de dividendos. Filing taxes 2014 Formulario 1099-DIV. Filing taxes 2014   Si era dueño de acciones por las cuales ha recibido $10 o más por concepto de dividendos y otras distribuciones, deberá recibir un Formulario 1099-DIV. Filing taxes 2014 Aun si no recibe un Formulario 1099-DIV, tiene que declarar todo su ingreso de dividendos. Filing taxes 2014   Vea el Formulario 1099-DIV para más información sobre cómo declarar el ingreso de dividendos. Filing taxes 2014 Formulario 1040A o 1040. Filing taxes 2014    Tiene que completar la Parte II del Anexo B (Formulario 1040A o 1040) y adjuntarlo al Formulario 1040A o 1040, si: Sus dividendos ordinarios (el recuadro 1a del Formulario 1099-DIV) son mayores de $1,500 o Recibió, como nominatario, dividendos que en realidad le pertenecen a otra persona. Filing taxes 2014 Si sus dividendos ordinarios son mayores de $1,500, usted también tiene que completar la Parte III del Anexo B (Formulario 1040 o 1040A). Filing taxes 2014   Escriba en la línea 5, Parte II del Anexo B, el nombre de cada pagador y los dividendos ordinarios que usted recibió. Filing taxes 2014 Si sus valores bursátiles están a nombre de una empresa de corretaje (conocido en inglés como “ street name ”), escriba el nombre de la empresa de corretaje mostrado en el Formulario 1099-DIV como pagador. Filing taxes 2014 Si sus acciones están a nombre de un nominatario que es el titular registrado, y el nominatario es el que le acredita o paga a usted los dividendos de las acciones, escriba el nombre del nominatario y los dividendos que recibió o que le fueron acreditados. Filing taxes 2014   Anote en la línea 6 el total de las cantidades que aparecen en la línea 5. Filing taxes 2014 Anote también este total en la línea 9a del Formulario 1040 o del Formulario 1040A. Filing taxes 2014 Dividendos calificados. Filing taxes 2014   Declare los dividendos calificados (el recuadro 1b del Formulario 1099-DIV) en la línea 9b del Formulario 1040 o del Formulario 1040A. Filing taxes 2014 La cantidad del recuadro 1b ya se incluye en el recuadro 1a. Filing taxes 2014 No añada ni reste la cantidad del recuadro 1b a la cantidad del recuadro 1a. Filing taxes 2014    No incluya ninguno de los siguientes en la línea 9b: Dividendos calificados que recibió como nominatario. Filing taxes 2014 Vea el tema titulado Nominees (Nominatarios), bajo How to Report Dividend Income (Cómo se declara el ingreso de dividendos), en el capítulo 1 de la Publicación 550, en inglés. Filing taxes 2014 Dividendos de acciones por las cuales usted no cumplió el período de tenencia. Filing taxes 2014 Vea el tema titulado Período de tenencia , anteriormente, bajo la sección titulada Dividendos Calificados. Filing taxes 2014 Dividendos sobre todas las acciones hasta el punto que usted esté obligado (ya sea por venta al descubierto o de otra manera) a hacer pagos afines por posiciones en bienes sustancialmente similares o relacionados. Filing taxes 2014 Pagos en lugar de dividendos, pero sólo si usted sabe o tiene razón de saber que los pagos no son dividendos calificados. Filing taxes 2014 Pagos mostrados en el recuadro 1b del Formulario 1099-DIV de una sociedad anónima extranjera hasta el punto donde sepa o tenga razón de saber que los pagos no son dividendos calificados. Filing taxes 2014   Si tiene dividendos calificados, tiene que calcular el impuesto completando la hoja Qualified Dividends and Capital Gain Tax Worksheet (Hoja de trabajo de impuestos sobre dividendos calificados y ganancias de capital) de las Instrucciones para el Formulario 1040 o el Formulario 1040A, o Schedule D Tax Worksheet (Hoja de trabajo de impuestos del Anexo D) de las Instrucciones del Anexo D del Formulario 1040, en inglés, según corresponda. Filing taxes 2014 Anote los dividendos calificados en la línea 2 de la hoja de trabajo. Filing taxes 2014 Deducción de los intereses de inversiones. Filing taxes 2014   Si declara una deducción por intereses de inversiones, quizás tenga que reducir sus dividendos que cumplan los requisitos de la tasa impositiva del 0%, 15% o 20%. Filing taxes 2014 Redúzcala por la cantidad de dividendos calificados que elija incluir en el ingreso de inversiones al calcular el límite de la deducción de los intereses de inversiones. Filing taxes 2014 Esto se hace en la hoja Qualified Dividends and Capital Gain Tax Worksheet (Hoja de trabajo de impuestos sobre dividendos calificados y ganancias de capital) o en la hoja Schedule D Tax Worksheet (Hoja de trabajo de impuestos del Anexo D). Filing taxes 2014 Para más información sobre el límite de intereses de inversión, vea Gastos de inversión en el capítulo 23. Filing taxes 2014 Gastos relacionados con el ingreso de dividendos. Filing taxes 2014   Es posible que pueda deducir los gastos relacionados con el ingreso de dividendos si detalla sus deducciones en el Anexo A (Formulario 1040). Filing taxes 2014 Vea el capítulo 28 para obtener información general sobre la deducción de gastos relativos a la producción de ingresos. Filing taxes 2014 Más información. Filing taxes 2014    Para más información sobre cómo declarar el ingreso de dividendos, vea el capítulo 1 de la Publicación 550, en inglés, o las instrucciones para el formulario que tiene que presentar. 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