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Index of Publication 17 - Your Federal Income Tax (For Individuals)
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(ITIN),
Filers who have certain child dependents with an Individual Taxpayer Identification Number (ITIN).
10% tax for early withdrawal from IRA or retirement plan,
See:
Early withdrawal from deferred interest account, subheading: Tax on
10-year tax option,
10-Year Tax Option
401(k) plans:
Tax treatment of contributions,
Elective deferrals.
403(b) plans:
Rollovers,
Tax-sheltered annuity plan (section 403(b)...
,
A tax-sheltered annuity plan (403(b) plan).
,
Tax-sheltered annuity plan (section 403(b)...
457 plans,
See:
Section 457 deferred compensation plans
529 plans,
See:
Qualified tuition programs
59 rule,
Age 59
1
/
2
rule.
60 day rule,
Time limit for making a rollover contribution.
70 rule,
Age 70
1
/
2
rule.
A
Abandonment of home,
Abandonment.
Abroad, citizens traveling or working,
Travel Outside the United States
,
Travel Primarily for Business
,
Employees of foreign governments or international organizations.
,
Foreign Employer
See also:
Citizens outside U.S.
See also:
Foreign employment
Absence, temporary,
Temporary absences.
,
Temporary absences.
Accelerated death benefits,
Accelerated Death Benefits
,
Accelerated death benefits are fully excludable...
Accident insurance,
Accident or Health Plan
Cafeteria plans,
Cafeteria plans.
Long-term care,
Long-Term Care Insurance Contracts
,
Long-term care coverage.
Accidental death benefits,
Accidental death benefits.
Accidents, car,
Car accidents (but see Nondeductible losses,...
Value determination,
Car value.
Willful negligence or intentional act as cause,
A car accident if your willful negligence...
Accountable plans for employee reimbursements,
Accountable Plans
,
Your employer is a corporation in which you...
Accountants:
Basis to include fees of,
Legal and accounting fees (when they must...
CPA review courses,
Bar or CPA Review Course
Accounting methods,
Accounting Methods
Accrual method,
See:
Accrual method taxpayers
Cash method,
See:
Cash method taxpayers
Change of:
Depreciation, to deduct unclaimed amount,
Changing your accounting method to deduct unclaimed depreciation.
Accounting periods:
Calendar year,
When Do I Have To File?
,
Accounting Periods
,
The general rule: benefits are reported for...
Change in, standard deduction not allowed,
You are filing a tax return for a short tax...
Fiscal year,
Accounting Periods
,
Fiscal year taxpayers.
,
Fiscal Years
Fringe benefits,
Accounting period.
Accrual method taxpayers,
Accrual method.
Taxes paid during tax year, deduction of,
If you use an accrual method of accounting,...
Accumulation distribution of trusts:
Tax on,
Tax on accumulation distribution of trusts....
Accuracy-related penalties,
Accuracy-related penalty.
Acknowledgment,
The acknowledgment must meet these tests....
Activities not for profit,
Activity not for profit.
Address,
Name and Address
Change of,
Change of Address
Foreign,
Foreign address.
P.O. box,
P.O. box.
Address, filing,
Where To File
Adjusted basis,
Adjusted Basis
,
If you postponed gain from the sale of your...
Decreases to basis,
Decreases to Basis
Depreciation,
Depreciation and section 179 deduction.
Easements,
Easements.
Energy conservation subsidies exclusion,
Exclusion of subsidies for energy conservation measures.
Gifts,
Property Received as a Gift
Home sale,
See:
Sale of home
Improvements,
Improvements.
Increases to basis,
Increases to Basis
Local assessments,
Assessments for local improvements.
Sales of property,
Adjusted basis.
Section 179 deduction,
Depreciation and section 179 deduction.
Adjusted gross income (AGI):
Medical and dental expenses and limit of deduction,
You can deduct only the amount of your medical...
,
How Much of the Expenses Can You Deduct?
Retirement savings contribution credit,
Special Rules
Adjustments,
The more common adjustments and tax preference...
Administrators, estate,
See:
Executors and administrators
Adopted child,
Exception for adopted child.
,
Adopted child.
,
Adopted child.
,
Taxpayer identification numbers for adoptees.
Earned income credit,
Adopted child.
Adoption:
ATIN,
Adoption taxpayer identification number (ATIN).
,
Adoption taxpayer identification number (ATIN).
Child tax credit,
Adopted child.
See also:
Child tax credit
Credit Employer's assistance program,
Child with special needs.
Credits,
Personal Expenses
,
Adoption Credit
Married filing separately,
Special Rules
Taking,
When to take the credit.
Employer assistance,
Adoption Assistance
Exception for adopted child,
Exception for adopted child.
Exemption for child,
Personal Expenses
Expenses not deductible:
Foster care prior to, no charitable deduction,
You cared for a foster child because you...
No charitable deduction for,
Personal Expenses
Foreign child,
Foreign child.
Medical and dental expenses of adopted child,
A qualifying child is a child who:Is your...
Taxpayer identification number,
Adoption taxpayer identification number (ATIN).
,
If your dependent is a resident or nonresident...
Taxpayer identification numbers (TINs),
Adoption taxpayer identification number (ATIN).
Age:
Children's investments,
See:
Children, subheading: Investment income of child under age 18
Form 1040EZ, taxpayer under 65 may use,
You do not claim any dependents.
Gross income and filing requirements (Table 1-1),
Filing Information
IRAs:
Contribution cutoff at age 70,
Age 70
1
/
2
rule.
Distribution prior to age 59,
Age 59
1
/
2
rule.
Distribution required at age 70,
IRA owners.
,
You cannot keep amounts in your traditional...
Pension distributions required at age 70,
Age 70
1
/
2
.
Retirement plan recipients over age 75,
Who must use the General Rule.
Roth IRAs,
Is there an age limit for contributions?
,
Must you withdraw or use Roth IRA assets?
Standard deduction for age 65 or older,
Higher Standard Deduction for Age (65 or Older)
Age test,
See:
Qualifying child
Agents,
A grantor and fiduciary, or the fiduciary...
Income paid to,
Payment to an agent.
Signing return,
When someone can sign for you.
See also:
Fiduciaries
AGI,
See:
Adjusted gross income (AGI)
Agricultural workers,
See:
Farmworkers
,
Farmers
Agriculture,
See:
Farming
Aircraft:
Charitable gift of, deduction for fair market value,
Cars, boats, and airplanes.
Airline club dues:
Not entertainment expenses,
Airline clubs,
Airplanes, donations of,
The following rules apply to any donation...
Airport transportation:
Business-related travel expense,
Table 26-1. Travel Expenses You Can Deduct This chart summarizes expenses you can deduct when you travel away from home for business purposes.
Alaska:
Standard meal allowance,
The standard meal allowance rates above do...
Alaska Permanent Fund dividends,
Alaska Permanent Fund dividend.
Child's dividends,
Child's Alaska Permanent Fund dividends.
Income from,
You do not claim any adjustments to income,...
,
Your income is only from:
,
Alaska Permanent Fund dividends.
Investment income not to include,
This generally includes your gross income...
Alaska Unemployment Compensation Fund,
Alaska Unemployment Compensation Fund.
Alcoholic beverages:
IRA prohibited transactions in,
Alcoholic beverages, and
Aliens,
Individual taxpayer identification number (ITIN) for aliens.
,
Income of nonresident aliens that is not...
Dual-status,
See:
Dual-status taxpayers
Filing required,
Aliens
Nonresident,
See:
Nonresident aliens
Resident,
See:
Resident aliens
Alimony,
How To Deduct Alimony Paid
,
You must provide your spouse's SSN or ITIN....
,
Instruments Executed After 1984
,
Exception for instruments executed before 1985.
,
Alimony requirements.
,
Cash payment requirement.
,
Payments to a third party.
,
Payments designated as not alimony.
,
Spouses cannot be members of the same household.
,
Payments after death of recipient spouse.
,
Substitute payments.
,
Alimony
,
Spouse or former spouse.
,
Payments not alimony.
,
Payments to a third party.
,
Life insurance premiums.
,
Payments for jointly-owned home.
,
Mortgage payments.
,
Taxes and insurance.
,
If you must pay all the real estate taxes...
,
Other payments to a third party.
,
Recapture Rule
,
Including the recapture in income.
,
Deducting the recapture.
,
How To Report Alimony Received
,
You must give the person who paid the alimony...
,
Alimony.
Definition of,
To be alimony, a payment must meet certain...
Mortgage payments:
Interest deduction,
Divorced or separated individuals.
Reporting of income,
Alimony.
Alternative filing methods:
Electronic,
See:
E-file
Alternative minimum tax (AMT),
Alternative Minimum Tax (AMT)
Child's tax, figuring of,
Alternative minimum tax.
Exempt-interest dividends,
Alternative minimum tax treatment.
Filing requirements (Table 1-3),
On Form 1040EZ, you can use only the tax...
Incentive stock option,
You did not have an alternative minimum tax...
Nonrefundable credit for prior year tax,
Nonrefundable Credit for Prior Year Minimum Tax
Refundable credit for prior year tax,
Refundable Credit for Prior Year Minimum Tax
Alternative motor vehicle credit,
Alternative Motor Vehicle Credit
,
Amount of credit.
Ambulance service personnel:
Life insurance proceeds when death in line of duty,
For this purpose, the term public safety...
Amended returns,
Amended Returns and Claims for Refund
,
Form 1040X.
,
Filing Form 1040X.
Itemized deduction, change to standard deduction,
Changing your mind.
Standard deduction, change to itemized deductions,
Changing your mind.
See also:
Form 1040X
American citizens abroad,
U.S. Citizens and Resident Aliens Living Abroad
Employment,
See:
Foreign employment
See also:
Citizens outside U.S.
American Indians,
See:
Indians
American opportunity credit:
Tuition deduction and,
You or anyone else claims an American opportunity...
American Samoa:
Income from,
Individuals With Income From U.S. Possessions
Amortization:
Bond premiums, treatment of,
Amortization of bond premium.
AMT,
See:
Alternative minimum tax (AMT)
Annuities,
Rollovers
Cost computation,
Cost (Investment in the Contract)
Decedent's unrecovered investment in,
If you received a Form 1099-R, Distributions...
Early distributions from,
A tax-sheltered annuity plan, or
Deferred annuity contracts,
5% rate on certain early distributions from deferred annuity contracts.
,
Additional exceptions for nonqualified annuity contracts.
Estimated tax,
Withholding and estimated tax.
Exclusion limit,
Exclusion limit.
General Rule:
Annuity starting before November 19, 1996,
Annuity starting before November 19, 1996.
Nonqualified plans and qualified plans for recipients over 75 years,
Who must use the General Rule.
Purchased annuities,
Purchased annuities.
Survivor's annuity,
If the retiree was reporting the annuity...
Guaranteed payments,
Guaranteed payments.
IRAs as,
Kinds of traditional IRAs.
Joint return,
Joint return.
Loans from plan,
Loans.
Lump-sum distributions,
Lump-Sum Distributions
Multiple plan benefits,
More than one program.
,
More than one annuity.
Partly taxable payments,
Partly taxable payments.
Purchased annuities,
Purchased annuities.
Reporting of,
How To Report
Retirement annuities,
Retirement Plans, Pensions, and Annuities
See also:
Retirement plans
Rollovers,
A qualified employee annuity.
Sale of,
Sale of Annuity
Gain as ordinary income,
Tax-free exchange.
Simplified method to calculate tax-free part of annuity payment,
Simplified Method
Survivor's annuity,
If the retiree was reporting the annuity...
Worksheet for computation,
How to use the Simplified Method.
Survivor annuities,
Survivors and Beneficiaries
Trade of insurance policies and annuities,
Insurance policies and annuities.
Unrecovered investment,
Unrecovered Investment in Annuity
Withholding,
Withholding and estimated tax.
,
If you received a Form 1099-R, Distributions...
,
Pensions and Annuities
See also:
Rollovers
Annulled marriages:
Filing status,
Annulled marriages.
Anthrax incidents,
See:
Terrorist attacks
Antiques,
See:
Collectibles
Appliances:
Deterioration and damage, not casualty loss,
The deterioration and damage to a water heater...
Appraisal fees,
Appraisal Fees
Donated property,
Appraisal Fees
Not deductible as interest,
Appraisal fees,
Real estate transactions, when required by lender,
Charges connected with getting a loan, such...
Appraisals:
Casualty or theft losses,
Appraisal.
,
Appraisals are used to figure the decrease...
Archer MSAs,
In most cases, you do not include in income...
Contributions,
Archer MSA contributions.
Medical expenses paid for decedent from,
Qualified medical expenses paid before death...
Armed forces,
Armed Forces reservists.
,
Domestic fraternal societies, orders, and...
Combat zone:
Extension to file return,
Individuals Serving in Combat Zone
Signing return for spouse,
Spouse in combat zone.
Dependency allotments,
Armed Forces dependency allotments.
Disability pay,
Disability.
Disability pensions,
Military and Government Disability Pensions
GI Bill benefits,
Tuition payments and allowances under the GI Bill.
Military,
Military uniforms.
Military quarters allotments,
Tax-exempt military quarters allowances.
Naval officers on permanent duty aboard ship,
A naval officer assigned to permanent duty...
Permanent duty overseas,
Members of the Armed Forces.
Real estate taxes when receiving housing allowance,
Ministers' and military housing allowance.
,
Ministers' and military housing allowances.
Rehabilitative program payments,
Veterans' benefits.
Reserves,
Armed Forces reservists traveling more than 100 miles from home.
Retirees' pay:
Taxable income,
Military retirement pay.
Uniforms,
Military uniforms.
Wages,
Payments you receive as a member of a military...
See also:
Reservists
See also:
Veterans' organizations
See also:
Veterans benefits
Armed Forces:
Retiree's pay withholding,
Military retirees.
Art works:
As capital assets,
Coin or stamp collections,
,
Gold, silver, stamps, coins, gems, etc.
Capital gains or losses from sale or trade of,
Investment interest deducted.
Artists, performing,
See:
Performing artists
Assessments, local,
See:
Local assessments
Assistance,
See:
Tax help
Assistance, tax,
See:
Tax help
Assumption of mortgage,
Assumption of mortgage.
Fees not included in basis,
Charges connected with getting a loan, such...
At-risk rules:
Rental property,
At-Risk Rules
Athletic events:
Charitable contributions, amount deductible,
Athletic events.
ATIN (Adoption taxpayer identification number),
Adoption taxpayer identification number (ATIN).
Attachment of wages,
Garnisheed wages.
Attachments to return,
Attachments
Attorneys:
Bar review courses,
Bar or CPA Review Course
Attorneys' fees,
Legal Expenses
,
Personal Legal Expenses
Basis to include,
Legal and accounting fees (when they must...
Social security and railroad retirement benefits, deductions for,
Legal expenses.
Title to property, for preparation, filing, etc.,
Legal fees (including fees for the title...
Audits:
Travel expense records,
If your return is examined.
Automatic extension of time to file,
Automatic Extension
,
When to file.
Form 4868,
E-file options.
Automatic investment services:
Holding period, determination of,
Automatic investment service.
Awards,
See:
Prizes and awards
Away-from-home travel,
See:
Travel and transportation expenses
B
Babysitting,
Babysitting.
Back pay, award for,
Include in income amounts you are awarded...
Emotional distress damages under title VII of Civil Rights Act of 1964,
Attorney fees and costs (including contingent...
Backup withholding,
Backup withholding.
,
Backup withholding.
,
Backup Withholding
Dividend income,
Backup withholding.
,
Reporting tax withheld.
Penalties,
Penalties.
Bad debts:
Bank deposit, loss due to bank's insolvency or bankruptcy,
Nonbusiness bad debt.
Reporting on Schedule D (Form 1040),
Nonbusiness bad debt — report it on Form...
Claim for refund,
If you do not deduct a bad debt on your original...
,
Bad debt. (See Nonbusiness Bad Debts in chapter...
Nonbusiness,
Nonbusiness Bad Debts
Recovery,
Recoveries
Reporting of,
How to report bad debts.
Short-term capital loss,
Deduct nonbusiness bad debts as short-term...
When deductible,
When deductible.
Baggage:
Business-related travel expense,
Table 26-1. Travel Expenses You Can Deduct This chart summarizes expenses you can deduct when you travel away from home for business purposes.
Balance due,
Refund or balance due.
Bankruptcy:
Canceled debt not deemed to be income,
The debt is canceled in a bankruptcy case...
Financial institution's bankruptcy causing deductible loss,
Loss on Deposits
Reporting of,
Loss on deposits.
Banks:
Automatic investment service, determination of holding period,
Automatic investment service.
IRAs with,
You can open different kinds of IRAs with...
Losses on deposits, when casualty losses,
Loss on Deposits
,
Deposit in Insolvent or Bankrupt Financial Institution
Reporting of,
Loss on deposits.
Money market accounts,
Report amounts you receive from money market...
Bar associations:
Charitable contributions to,
Chambers of commerce and other business leagues...
Bar employees:
Tips,
See:
Tip income
Bar review courses,
Bar or CPA Review Course
Bargain sales:
As charitable contributions,
Bargain sales.
Basis of purchase,
Bargain purchases.
Barter income:
Definition of bartering,
Bartering
Form 1099-B,
Form 1099-B from barter exchange.
Basis:
Adjusted basis,
Adjusted Basis
Allocation between business and personal use,
If you use property for both business or...
Bad debts,
Basis in bad debt required.
Bargain purchases,
Bargain purchases.
Bonds,
Stocks and Bonds
,
Bond premium.
Cost basis,
Publication
IRAs for nondeductible contributions,
Cost basis.
,
If you made nondeductible contributions or...
Definition of,
Your basis is the amount of your investment...
Gifts,
Property Received as a Gift
Home sales,
See:
Sale of home
Improvements to real estate,
Improvements.
Involuntary conversion,
Involuntary Conversions
Like-kind exchanges,
Basis of property received.
Other than cost,
Basis Other Than Cost
,
OID on tax-exempt obligations is generally...
,
No gain or loss.
Points not to be included,
Charges connected with getting a loan, such...
,
Points.
Property received for services,
Property Received for Services
Real estate,
Real Property
Restricted property,
Restricted property.
Stock or stock rights,
Basis.
Tax-exempt obligations:
Bonds,
Tax-exempt obligations.
Transfers between spouses,
Property Transferred From a Spouse
,
Any transfer of property to a spouse or former...
Beetles:
Damage or destruction to trees and plants, when casualty loss,
The damage or destruction of trees, shrubs,...
Beneficiaries,
A distribution paid to a beneficiary other...
,
Beneficiary of an estate or trust.
,
An estate or trust, unlike a partnership,...
,
Losses.
See also:
Trust beneficiaries
See also:
Estate beneficiaries
Bequests,
An estate or trust, unlike a partnership,...
,
Losses.
,
Gifts and inheritances.
,
Income from property received as a gift.
See also:
Estate beneficiaries
See also:
Inheritance
See also:
Gifts
Bicycle:
Fringe benefit,
Qualified bicycle commuting.
Bingo,
Costs of raffles, bingo, lottery, etc. You...
Birth of child,
Death or birth of child.
Head of household, qualifying person to file as,
Death or birth.
,
Death or birth.
Social security number to be obtained,
If your child was born and died in 2012,...
Birth of dependent,
Death or birth.
Blackmail:
Losses due to,
Blackmail.
Blind persons:
Exemption from withholding,
Age 65 or older or blind.
Impairment-related work expenses, deduction for,
A physical or mental disability (for example,...
Standard deduction for,
,
Higher Standard Deduction for Blindness
Blood banks:
No charitable deduction for blood donations to,
Blood donations to the American Red Cross...
Blue books to determine fair market value,
If you contribute a car, boat, or airplane...
Boats:
Charitable gift of, deduction for fair market value,
Cars, boats, and airplanes.
Donations of,
The following rules apply to any donation...
Bona fide business purpose:
Travel expenses,
Bona fide business purpose.
Work-related education,
The education is required by your employer...
Bonds:
Adjusted basis for,
Stocks and Bonds
Amortization of premium,
Amortization of bond premium.
,
Amortizable Premium on Taxable Bonds
As capital assets,
Stocks or bonds held in your personal account,
,
Stocks, stock rights, and bonds.
Convertible bonds,
Convertible stocks and bonds.
Discounted:
Capital gain or loss,
Discounted Debt Instruments
Issued at discount,
Original Issue Discount (OID)
Market discount bonds,
Market discount bonds.
Original issue discount,
Original Issue Discount (OID)
Redemption of,
Redemption or retirement of bonds.
Retirement of,
Retirement bonds.
,
Redemption or retirement of bonds.
Sale of,
Bonds Sold Between Interest Dates
Savings,
U.S. Savings Bonds
,
Series HH bonds.
,
Series EE and series I bonds.
Sold at premium, computation of adjusted basis,
Bond premium.
State or local government, tax-exempt,
Tax-exempt state and local government bonds.
Tax-exempt,
State or Local Government Obligations
Bonuses,
Bonuses and awards.
,
Supplemental Wages
,
Employee awards or bonuses.
Bookkeeping,
See:
Recordkeeping requirements
Books to determine fair market value,
Books issued by various automobile organizations...
Borrowed funds,
Loan fees.
,
Loans.
Used for charitable contributions, deduction for,
Borrowed funds.
See also:
Loans
Boy Scouts:
Charitable contributions to,
Most nonprofit educational organizations,...
Breach of contract:
Damages as income,
Interference with business operations.
employment,
Damages for Breach of Employment Contract
Bribes,
Bribes.
,
Illegal bribes and kickbacks. See Bribes...
Brokers:
Form 1099-B,
Sales and Trades
IRAs with,
You can open different kinds of IRAs with...
Commissions,
Brokers' commissions.
,
Brokers' commissions.
Receiving dividends, reporting on Form 1099-MISC,
Form 1099-MISC.
Burglary:
Losses due to,
Burglary.
Burial expenses,
See:
Funerals
Business associates,
The meal is business-related entertainment.
,
Entertainment Expenses
Business travel to meet,
Visiting clients or customers.
Travel expenses of, paying for,
Business associate.
See also:
Entertainment expenses
Business expenses,
Entertainment Expenses
Job search expenses,
Job interview expenses.
Meal expenses,
See:
Meal and lodging expenses
Reimbursements,
If you receive travel, transportation, or...
,
Expense allowances.
Returning excess for business expenses,
Returning Excess Reimbursements
Returning excess business expenses,
Expense allowances.
Travel,
See:
Travel and transportation expenses
Work-related education,
What Expenses Can Be Deducted
See also:
Entertainment expenses
Business organizations:
Charitable contributions to,
Civic leagues and associations.
Business property:
As gift, adjusted basis for,
Business property.
Basis for depreciation,
Basis for depreciation.
Property use changed to, adjusted basis for,
Property Changed From Personal to Business or Rental Use
Sales or exchanges:
Like-kind exchanges,
The property must not be held primarily for...
Business tax credits:
Claim for refund,
Carryback of certain business tax credits....
Business use of home,
Home Office
C
Cafeteria plans,
Cafeteria plans.
Calendar year taxpayers:
Accounting periods,
When Do I Have To File?
,
Accounting Periods
,
The general rule: benefits are reported for...
Filing due date,
When Do I Have To File?
California Nonoccupational Disability Benefit Fund,
California Nonoccupational Disability Benefit...
Campaign contributions,
Political organizations and candidates.
,
Campaign contributions.
Presidential Election Campaign Fund,
Presidential Election Campaign Fund
Campaign expenses,
Campaign Expenses
Canada:
Resident of,
Citizen or Resident Test
,
Child in Canada or Mexico.
Cancellation of debt,
Canceled Debts
Exceptions to treatment as income,
Exceptions
Candidates for public office:
Contributions to, no charitable deduction for,
Political organizations and candidates.
Capital assets:
Coal and iron ore,
Coal and iron ore.
Definition of,
Capital Assets and Noncapital Assets
Capital expenses,
Capital expenses.
Capital gains or losses,
Capital Gains and Losses
,
See How to report and postpone gain under...
Bad debts as short-term capital loss,
Deduct nonbusiness bad debts as short-term...
Carryover of,
Long-term capital loss carryovers.
,
Capital loss carryover.
Worksheet,
Complete the Capital Loss Carryover Worksheet...
Character of gain,
This section discusses the tax treatment...
Character of loss,
This section discusses the tax treatment...
Child's distributions and dividends, reporting of,
If part of the amount you report is your...
,
Capital gain distributions and qualified dividends.
Collectibles,
Investment interest deducted.
Deductions,
Capital Losses
Limit on,
Limit on deduction.
Married filing separately,
Special Rules
Distributions,
Report amounts you receive from money market...
Form 1040 or 1040A to be used,
If you receive capital gain distributions,...
,
Your income is only from:
Form 8949,
Reporting Gains and Losses
Hobbies, sales from collections,
If you collect stamps, coins, or other items...
Holding period, determination of,
Holding Period
How to report,
Reporting Capital Gains and Losses
Installment sales and,
Installment sales.
Lump-sum distributions from pensions and annuities,
Capital Gain Treatment
Mutual funds paying,
Capital gain distributions (also called capital...
Net capital gain,
This section discusses the tax treatment...
,
The result after combining these items with...
,
The term net capital gain means the amount...
Included as investment income,
Choosing to include net capital gain.
Net long-term capital loss,
The result after combining these items with...
Sale of personal items,
If you sold an item you owned for personal...
,
However, if you sold an item you held for...
Sale or trade of property held more than 1 year,
Long-term or short-term.
,
A capital gain or loss on the sale or trade...
Schedule D,
Reporting Gains and Losses
,
Reporting Capital Gains and Losses
Section 1250 gains from sale of real property,
This section discusses the tax treatment...
,
Generally, this is any part of your capital...
State or local government bonds, tax-exempt,
A loss on the sale or other disposition of...
Tax rates,
Capital Gain Tax Rates
Total net gain,
Total net gain or loss.
Total net loss,
Total net gain or loss.
Undistributed gains,
Undistributed long-term capital gains from...
Credit for tax on,
Undistributed capital gains of mutual funds and REITs.
,
Credit for Tax on Undistributed Capital Gain
Car expenses,
Car expenses.
Car pools,
Car pools.
,
Car pools.
Carrybacks:
Business tax credit carrybacks,
Carryback of certain business tax credits....
Carryovers:
Capital loss,
Long-term capital loss carryovers.
,
Capital loss carryover.
Worksheet,
Complete the Capital Loss Carryover Worksheet...
Investment interest,
You can carry over the amount of investment...
Cars,
Car Expenses
,
Car Expenses and Other Employee Business Expenses
,
Transportation
,
Transporting school children.
Accidents resulting in casualty loss,
Car accidents (but see Nondeductible losses,...
Value determination,
Car value.
Willful negligence or intentional act as cause,
A car accident if your willful negligence...
Actual expenses,
Actual car expenses.
,
Actual Car Expenses
Advertising displays on,
Advertising display on car.
Allowances from employers,
Per Diem and Car Allowances
As capital assets,
A car used for pleasure or commuting,
Blue book to determine fair market value,
If you contribute a car, boat, or airplane...
Books to determine fair market value,
Books issued by various automobile organizations...
Business and personal use, allocation between,
Separating expenses.
,
Business and personal use.
Business-related travel expenses,
Table 26-1. Travel Expenses You Can Deduct This chart summarizes expenses you can deduct when you travel away from home for business purposes.
Car pools,
Car pools.
Charitable gift of, deduction for fair market value,
Cars, boats, and airplanes.
Charitable organization service, use for,
Car expenses.
Depreciation,
Depreciation and section 179 deductions.
Donations of,
The following rules apply to any donation...
Fixed and variable rate (FAVR),
Fixed and variable rate (FAVR).
Form 2106 or 2106-EZ, how to fill out,
Car expenses.
Hauling tools or instruments,
Hauling tools or instruments.
Interest on loans, not deductible,
Interest on car loans (unless you use the...
Leased vehicles,
Leasing a car.
Medical transportation,
Transportation
,
Car expenses.
Parking,
See:
Parking fees
Personal property taxes on, deduction of,
A tax that meets the above requirements can...
Reporting of,
How To Report
Table 26-3 showing forms to be used,
Your employer sends you on a 5-day business...
Sale, trade-in, or other disposition,
Sale, Trade-In, or Other Disposition
Section 179 deductions,
Depreciation and section 179 deductions.
Work-related education, transportation for,
Using your car.
See also:
Standard mileage rates
See also:
Travel and transportation
Cash:
Dividends paid as,
Most distributions are paid in cash (or check)....
Rebates,
Cash rebates.
Sales of property for,
Payment of cash.
Cash contributions, records to keep,
Cash Contributions
Cash method taxpayers,
Cash method.
Bad debts,
To deduct a bad debt, you must have a basis...
Points, deduction of,
The points were not paid in place of amounts...
Real estate transactions, tax allocation,
If you (the seller) cannot deduct taxes until...
Taxes paid during tax year, deduction of,
You must pay the tax during your tax year.
Worthless securities and negotiable promissory notes,
If you are a cash basis taxpayer and make...
Cash rebates,
Cash rebates.
Casualties,
Home destroyed or condemned.
Casualty insurance:
Premiums not in property basis,
Casualty insurance premiums.
Reimbursements from,
Casualty insurance and other reimbursements.
Casualty losses,
If your casualty or theft loss deduction...
,
Nonbusiness Casualty and Theft Losses
,
Casualty and Theft Losses
,
Casualty and Theft Losses of Income-Producing Property
Adjusted basis in property,
Adjustments to basis.
,
Adjusted Basis
,
Involuntary Conversions
,
Casualty and theft losses.
Amount of loss,
Figuring a Loss
Appraisals,
Appraisal.
,
Appraisals are used to figure the decrease...
Bank deposit, loss due to bank's insolvency or bankruptcy,
Casualty loss or ordinary loss.
Costs:
Cleaning up or making repairs,
Cost of cleaning up or making repairs.
Photographs and appraisals,
Costs of photographs and appraisals.
Deductible losses,
Deductible losses.
$100 rule,
$100 Rule
When to take (Table 25-2),
If your recognized gains are more than your...
Deduction limits,
Deduction Limits
For personal property (Table 25-1),
Due to the $100 rule (discussed later under...
Definition of casualty,
A casualty is the damage, destruction, or...
Disasters,
Employer's emergency disaster fund.
,
Disaster relief.
See also:
Disaster relief
Employer's emergency disaster fund,
Employer's emergency disaster fund.
Fair market value of property,
Decrease in Fair Market Value
Form 4684 to be filed,
When you have a casualty or theft, you have...
Insurance proceeds, treatment of,
Insurance and Other Reimbursements
Net operating losses,
Net operating loss (NOL).
Nondeductible losses,
Volcanic eruptions.
Proof of loss,
Casualty loss proof.
Property used partly for business and partly for personal purposes,
Property used partly for business and partly for personal purposes.
Reimbursement,
Insurance and Other Reimbursements
Reporting of gain or loss,
How To Report Gains and Losses
,
When To Report Gains and Losses
,
Losses.
Single casualty on multiple properties,
Single Casualty on Multiple Properties
Cemeteries:
Charitable contributions to,
The United States or any state, the District...
Certificate, mortgage credit,
You may be eligible for the credit if you...
Certificates of deposit (CDs),
Certificates of deposit (CDs).
,
Individual Retirement Arrangements (IRAs)
See also:
Individual retirement arrangements (IRAs)
Chambers of commerce:
Charitable contributions to,
Civic leagues and associations.
Entertainment expenses for attending meetings,
You can deduct entertainment expenses that...
Change of address,
Change of Address
Change of name,
Name change.
,
Name changed.
Chaplains:
Life insurance proceeds when death in line of duty,
For this purpose, the term public safety...
Charitable contributions,
Noncash Contributions
,
The fair market value of the property at...
,
How To Report
,
Contributions You Cannot Deduct
,
Contributions to Individuals
,
Contributions to Nonqualified Organizations
,
Contributions From Which You Benefit
,
If you give property to a qualified organization,...
,
Your deduction for charitable contributions...
,
Contributions From Which You Benefit
,
Token items.
,
Written statement.
,
Contributions
,
A charitable contribution is a donation or...
,
Organizations That Qualify To Receive Deductible Contributions
,
You can deduct your contributions only if...
,
Types of Qualified Organizations
,
When To Deduct
,
Time of making contribution.
,
Contributions of Property
,
Determining Fair Market Value
,
Large quantities.
,
Giving Property That Has Decreased in Value
,
Giving Property That Has Increased in Value
,
Ordinary income property.
,
Capital gain property.
,
Amount of deduction — general rule.
,
Bargain sales.
Gifts to reduce public debt,
Send your check to: Bureau of the Public...
Charitable distributions, qualified,
Qualified charitable distributions (QCD).
Charity benefit events:
Deduction amount for charitable contributions,
Charity benefit events.
Check-writing fees,
Check-Writing Fees on Personal Account
Checklists:
Medical and dental expense deductions (Table 21-1),
If you are not covered under social security...
Checks:
As charitable contributions,
Checks.
Canceled checks as evidence of travel expenses,
Canceled check.
Constructive receipt of,
Check received or available.
Child:
Foster child,
You are that person's son, daughter, stepchild,...
,
You are that person's son, daughter, stepchild,...
Married child,
Married child.
Child and dependent care credit,
The credit for child and dependent care expenses....
Due diligence,
You should keep this information with your...
Earned income,
Earned income.
Full-time student,
This rule applies to only one spouse for...
Married filing separately,
Special Rules
Payments to relatives,
Payments to Relatives or Dependents
Child born alive,
Child born alive.
Child care,
The credit for child and dependent care expenses....
Babysitting,
Babysitting.
Care providers,
If you provide childcare, either in the child's...
Expenses,
Child care expenses.
Child custody,
Custodial parent and noncustodial parent.
Child support,
Child support payments.
Alimony, difference from,
The payment is not treated as child support.
,
Child support.
,
Child support,
Child support under pre-1985 agreement,
Child support under pre-1985 agreement.
Child tax credit,
You qualify for the health coverage tax credit....
,
The education credits. (See chapter 34.)
,
Child tax credit.
,
Child Tax Credit
Additional credit,
Additional Child Tax Credit
Amount of credit,
Amount of Credit
Claiming, procedure for,
Claiming the Credit
Limits,
Special Rules
,
Limits on the Credit
Modified adjusted gross income,
Modified AGI.
Married filing separately,
Special Rules
Qualifying child,
Qualifying Child
Schedule 8812, completed,
If you have an additional child tax credit...
Child, qualifying,
Qualifying Child
Childcare:
Credit,
Child and Dependent Care Credit
Provider:
Taxpayer identification number,
Provider Identification Test
Children,
Adoption expenses, including fees paid to...
,
Adoption Assistance
Additional credit on child tax credit,
Additional Child Tax Credit
Adoption,
See:
Adopted child
Babysitters,
Babysitting.
Birth of child:
Head of household, qualifying person to file as,
Death or birth.
,
Death or birth.
Social security number to be obtained,
If your child was born and died in 2012,...
Care providers,
If you provide childcare, either in the child's...
See also:
Child care
Child's tax, figuring of,
Step 3. Figuring the Child's Tax (Form 8615, Part III)
Alternative minimum tax,
Alternative minimum tax.
Credit for,
You qualify for the health coverage tax credit....
,
The credit for child and dependent care expenses....
See also:
Child tax credit
See also:
Child and dependent care credit
Custody of,
Custodial parent and noncustodial parent.
Death of child:
Head of household, qualifying person to file as,
Death or birth.
,
Death or birth.
Deductions,
Line 2 (deductions).
Dividends of,
See:
this heading: Investment income of child under age 18
Earnings of,
Child's earnings.
Filing requirements,
Child's earnings.
As dependents (Table 1-2),
File only one federal income tax return for...
Gifts to,
Income from property given to a child.
,
Income from property received as a gift.
Inclusion of child's income on parent's return (Figure 30-A),
If you make this election for 2012 and did...
Income, calculation of,
Figuring Child's Income
Capital gains distributions,
Capital gain distributions and qualified dividends.
Investment income of,
Tax on investment income of certain children.
,
Tax on investment income of certain children.
Investment income of certain children,
John also completes Schedule B (Form 1040A...
,
This chapter discusses the following two...
Form 8615, use of (Figure 30-B),
Figure 30-B. Do You Have To Use Form 8615 To Figure Your Child's Tax?
Investment income defined,
Investment income defined.
Parental information, providing of,
Providing Parental Information (Form 8615, lines A–C)
Parents' election to report on Form 1040,
Parent's Election To Report Child's Interest and Dividends
Trust income,
Trust income.
Investment income of child under age 18:
Dependent filing requirements (Table 1-2),
File only one federal income tax return for...
Interest and dividends,
Certain Children Under Age 19 or Full-Time Students
Parents' election to report on Form 1040,
Investment income includes the part of your...
,
Certain Children Under Age 19 or Full-Time Students
Kidnapped,
Kidnapped child.
,
Kidnapped child.
Net investment income, figuring of,
Step 1. Figuring the Child's Net Investment Income (Form 8615, Part I)
Nontaxable income,
Nontaxable income.
Property received as gift, income from,
Income from property received as a gift.
Signing return, parent for child,
Spouse unable to sign.
Standard deduction for,
Standard Deduction for Dependents
,
If an exemption for you can be claimed on...
Stillborn,
Stillborn child.
Support of,
See:
Child support
Tax credit,
See:
Child tax credit
Tentative tax figured at parent's tax rate,
Step 2. Figuring Tentative Tax at the Parent's Tax Rate (Form 8615, Part II)
Transporting school children,
Transporting school children.
See also:
Adoption
Chronic illness:
Accelerated payment of life insurance proceeds,
See:
Accelerated death benefits
Long-term care,
See:
Long-term care insurance contracts
Church employees:
Filing requirements (Table 1-3),
On Form 1040EZ, you can use only the tax...
Churches, temples, etc.:
Charitable contributions to,
The following list gives some examples of...
Convention delegates, deduction of unreimbursed expenses,
You cannot deduct your travel expenses in...
Citizen or resident test,
Citizen or Resident Test
Citizens outside U.S.:
Business travel outside U.S.,
Travel Outside the United States
,
Travel Primarily for Business
,
Travel Primarily for Personal Reasons
Self-employed persons,
A self-employed person generally has substantial...
Standard meal allowance,
Standard meal allowance for areas outside the continental United States.
Earned income exclusion,
If you live outside the United States, you...
Employment,
See:
Foreign employment
Extension of time to file,
Individuals Outside the United States
Filing requirements,
U.S. Citizens and Resident Aliens Living Abroad
Withholding from IRA distributions,
IRA distributions delivered outside the United States.
Civic associations:
Charitable contributions to,
Communist organizations.
Civil defense organizations:
Charitable contributions to,
Civil defense organizations.
Civil service retirement benefits,
If you are retired from the federal government...
Civil suits,
Court awards and damages.
See also:
Damages from lawsuits
Civil tax penalties,
See:
Penalties
Clergy,
Ministers.
Contributions that can be spent as individual wishes, not deductible charitable contribution,
Payments to a member of the clergy that can...
Housing,
If you are a member of a religious organization...
Real estate taxes when receiving housing allowance,
Ministers' and military housing allowance.
,
Ministers' and military housing allowances.
Life insurance proceeds when chaplain died in line of duty,
For this purpose, the term public safety...
Pensions,
A pension or retirement pay for a member...
Special income rules,
Clergy
Clerical help, deductibility of,
Clerical Help and Office Rent
Clients,
The meal is business-related entertainment.
,
Entertainment Expenses
Business travel to meet,
Visiting clients or customers.
Travel expenses of, paying for,
Business associate.
See also:
Entertainment expenses
Closing costs:
Real property transactions,
Settlement costs.
Sale of home,
Settlement fees or closing costs.
Clothing:
Military,
Military uniforms.
Moth damage, not casualty loss,
Termite or moth damage.
Uniforms:
Charitable organization requiring, deduction for cost and upkeep of,
Uniforms.
Used clothing, charitable deduction for fair market value,
Used clothing and household items.
work,
Work Clothes and Uniforms
Club dues and membership fees:
Entertainment expenses,
Club dues and membership fees.
Co-owners:
Dwelling unit used as home by co-owner, rental income and expense allocation,
Shared equity financing agreement.
Coal and iron ore,
Coal and iron ore.
Coins,
See:
Collectibles
Collectibles:
As capital assets,
Coin or stamp collections,
,
Gold, silver, stamps, coins, gems, etc.
Gains or losses from sale or trade of,
Investment interest deducted.
IRA investment in,
Investment in Collectibles
,
Your IRA can invest in one, one-half, one-quarter,...
College professor:
Research expenses,
Research Expenses of a College Professor
Colleges and universities:
Charitable contributions to,
Most nonprofit educational organizations,...
Athletic events, amount deductible,
Athletic events.
Education costs,
Qualified tuition programs (QTPs).
Employer-provided educational assistance,
Qualified Education Expenses
See also:
Educational assistance
See also:
Qualified tuition programs
Combat zone:
Extension to file return,
Individuals Serving in Combat Zone
Signing return for spouse,
Spouse in combat zone.
Commission drivers:
Deduction of expenses,
If you received a Form W-2 and the Statutory...
Commissions,
Supplemental Wages
Advance,
Advance commissions and other earnings.
IRAs with brokers,
Brokers' commissions.
,
Brokers' commissions.
Property basis to include when buyer pays,
Any amounts the seller owes that you agree...
Sharing of (kickbacks),
You must include kickbacks, side commissions,...
Unearned, deduction for repayment of,
If you repay unearned commissions or other...
Commodities:
Derivative financial instruments,
Certain commodities derivative financial...
Common law marriage,
You are married and living apart, but not...
Communist organizations:
Charitable contributions to,
Country clubs and other social clubs.
Community property,
Community income.
,
Community property.
Alimony, difference from,
Payments that are your spouse's part of community...
IRAs,
Community property laws.
Married filing separately,
Community property states.
Medical and dental expenses,
Community property states.
Commuting expenses,
Commuting expenses.
,
Commuting Expenses
Employer-provided commuter vehicle,
Commuter highway vehicle.
Compensation,
Wages, Salaries, and Other Earnings
Defined for IRA purposes,
What is compensation?
Defined for Roth IRA purposes,
Compensation.
Employee,
Employee Compensation
Miscellaneous compensation,
Miscellaneous Compensation
Nonemployee,
Nonemployee compensation.
Unemployment,
Unemployment compensation.
See also:
Wages and salaries
Computation of tax,
Computations
Equal amounts,
Equal amounts.
Negative amounts,
Negative amounts.
Rounding off dollars,
Rounding off dollars.
Computer,
Depreciation on Computers
Condemnation of property,
Condemnations.
,
Home destroyed or condemned.
Basis computation,
Involuntary Conversions
Disaster areas, government-ordered demolition of unsafe home,
Government-ordered demolition or relocation...
Period of ownership and use,
Previous home destroyed or condemned.
Confidential information:
Privacy Act and paperwork reduction information,
Privacy Act and paperwork reduction information.
Travel expenses and,
Confidential information.
Constructive receipt of income,
Constructive receipt.
,
Payment to an agent.
,
Constructive receipt.
Contributions,
How To Report
,
Political organizations and candidates.
,
Contributions
,
Send your check to: Bureau of the Public...
,
Campaign contributions.
Nontaxable combat pay,
Nontaxable combat pay.
Political,
Political Contributions
Reservist repayments,
Qualified reservist repayments.
Retirement,
See:
specific type of plan
See also:
Campaign contributions
See also:
Charitable contributions
Controlled corporations:
Nontaxable stock purchase of,
Property for stock of a controlled corporation.
Related party transactions,
A partnership in which you directly or indirectly...
,
Two corporations that are members of the...
Convenience fees,
Credit or Debit Card Convenience Fees
Conventions:
Delegates:
Deduction of unreimbursed expenses,
Conventions.
Travel expenses,
Your appointment or election as a delegate...
Travel expenses,
Conventions
Work-related education, deduction of travel expenses for overseas conventions,
Cruises and conventions.
Conversion,
See:
specific retirement or IRA plan
Convertible stocks and bonds,
Convertible stocks and bonds.
Cooperative housing:
Dwelling unit used as home,
If you rent a condominium or a cooperative...
Mortgage interest statements,
If you paid $600 or more of mortgage interest...
Real estate taxes, deduction of,
Tenant-shareholders in a cooperative housing corporation.
Sale or trade of:
Form 1099-S to report,
Stock in a cooperative housing corporation...
Period of ownership and use,
Cooperative apartment.
Cooperatives:
Patronage dividends,
Patronage dividends.
Copyrights,
A copyright, a literary, musical, or artistic...
Infringement damages,
Breach of contract, or
Royalties,
Royalties
Corporations,
S Corporation Income
Controlled corporations,
Property for stock of a controlled corporation.
,
A partnership in which you directly or indirectly...
Director fees as self-employment income,
Corporate director.
Reorganizations and nontaxable trade of stock,
Corporate reorganizations.
See also:
S corporations
Corrections,
See:
Errors
Cost basis,
Publication
IRAs for nondeductible contributions,
Cost basis.
,
If you made nondeductible contributions or...
Cost-of-living allowances,
Government cost-of-living allowances.
Country clubs:
Charitable contributions to,
Most foreign organizations (other than certain...
Dues:
Charitable deduction not allowed,
You may be able to deduct membership fees...
Entertainment expense deduction not allowed,
Country clubs,
Coupon bonds,
Coupon bonds.
Court awards and damages,
See:
Damages from lawsuits
Cousin,
Cousin.
Coverdell ESAs:
Additional tax on,
Additional tax on Coverdell ESAs. This applies...
CPAs,
See:
Accountants
Credit cards:
Annual fees, not deductible,
Annual fees for credit cards.
Benefits, taxability of insurance,
Credit card insurance.
Charitable contributions charged to,
Credit card.
Finance charges, not deductible,
Finance charges on credit cards, retail installment...
Payment of taxes,
You can pay your taxes online or by phone....
Credit for child and dependent care expenses,
Credit for child and dependent care expenses.
,
Credit for child and dependent care expenses.
Credit for prior year minimum tax:
Nonrefundable,
Nonrefundable Credit for Prior Year Minimum Tax
Refundable,
Refundable Credit for Prior Year Minimum Tax
Credit for the elderly or the disabled,
Credit for the elderly or the disabled.
,
Credit for the elderly or the disabled.
Nontaxable payments,
Nontaxable payments.
Credit or debit cards:
Payment of taxes,
E-file and pay by credit or debit card or by using the Electronic Federal Tax Payment System (EFTPS).
Credit reports:
Costs not included in property basis,
Charges connected with getting a loan, such...
Fees for, not deductible,
Credit investigation fees.
Credit to holders of tax credit bonds,
Credit to Holders of Tax Credit Bonds
Credits,
Earned income credit.
,
Credit for child and dependent care expenses.
,
Credit for the elderly or the disabled.
,
Earned income credit.
,
Credit for child and dependent care expenses.
,
Credit for the elderly or the disabled.
,
Earned income credit.
,
Credits.
Alternative motor vehicle,
Alternative Motor Vehicle Credit
American opportunity,
Special Rules
Build America bonds,
See:
Credit to holders of tax credit bonds
Capital gains, undistributed, credit for tax on,
Undistributed capital gains of mutual funds and REITs.
,
Credit for Tax on Undistributed Capital Gain
Child and dependent care,
See:
Child and dependent care credit
Child tax,
See:
Child tax credit
Clean renewable energy bonds,
See:
Credit to holders of tax credit bonds
Earned income,
See:
Earned income credit
Elderly or the disabled,
Credit for the Elderly or the Disabled
Excess withholding,
Credit for Excess Social Security Tax or Railroad Retirement Tax Withheld
Foreign tax,
Foreign Tax Credit
Health coverage,
Health Coverage Tax Credit
Lifetime learning,
See:
Lifetime learning credit
Mortgage interest,
Mortgage Interest Credit
Nonrefundable credits,
Nonrefundable Credits
Plug-in electric drive motor vehicle,
Plug-in Electric Drive Motor Vehicle Credit
Plug-in electric vehicle,
Plug-in Electric Vehicle Credit
Prior year minimum tax (AMT), nonrefundable,
Nonrefundable Credit for Prior Year Minimum Tax
Prior year minimum tax (AMT), refundable,
Refundable Credit for Prior Year Minimum Tax
Qualified energy conservation bonds,
See:
Credit to holders of tax credit bonds
Qualified school construction bonds,
See:
Credit to holders of tax credit bonds
Qualified zone academy bonds,
See:
Credit to holders of tax credit bonds
Refundable credits,
Refundable Credits
Residential energy,
Residential Energy Credits
Retirement savings contribution,
Retirement Savings Contributions Credit (Saver's Credit)
Criminal prosecutions:
Travel expenses for federal staff,
Exception for federal crime investigations or prosecutions.
Cruises:
Travel expenses when incidental business activities,
A trip to a resort or on a cruise ship may...
Work-related education, deduction of expenses,
Cruises and conventions.
Custodial fees,
Investment Fees and Expenses
Custody of child,
Custodial parent and noncustodial parent.
Customers,
The meal is business-related entertainment.
,
Entertainment Expenses
Business travel to meet,
Visiting clients or customers.
Travel expenses of, paying for,
Business associate.
See also:
Entertainment expenses
D
Daily allowance,
See:
Per diem
Damage to property,
Nonbusiness Casualty and Theft Losses
Disasters,
Employer's emergency disaster fund.
,
Disaster relief.
See also:
Disaster relief
See also:
Casualty losses
Damages,
Damages for Breach of Employment Contract
Damages from lawsuits,
Court awards and damages.
Medical expenses as part of settlement,
Damages for Personal Injuries
Dating your return,
Signatures
Daycare centers,
The credit for child and dependent care expenses....
,
If you provide childcare, either in the child's...
,
Care outside your home.
See also:
Child and dependent care credit
See also:
Child care
De minimis benefits,
De Minimis (Minimal) Benefits
Deadlines,
See:
Due dates
Death,
See:
Decedents
Death benefits:
Accelerated,
Accelerated Death Benefits
,
Accelerated death benefits are fully excludable...
Life insurance proceeds,
See:
Life insurance
Public safety officers who died or were killed in line of duty, tax exclusion,
Public Safety Officer Killed in the Line of Duty
Death of child,
Death or birth of child.
Death of dependent,
Death or birth.
Debt instruments,
See:
Bonds or Notes
Debts,
Recoveries
,
Bad debt. (See Nonbusiness Bad Debts in chapter...
Canceled,
See:
Cancellation of debt
Nonrecourse,
Mortgage relief upon sale or other disposition.
Paid by another,
Debts paid for you.
Payoff of debt included in sales transaction,
Debt paid off.
Public, gifts to reduce,
Gift To Reduce Debt Held by the Public
Recourse,
Mortgage relief upon sale or other disposition.
Refund offset against,
You can have a refund check mailed to you,...
,
Offset against debts.
See also:
Bad debts
Deceased taxpayers,
See:
Decedents
Decedents,
You are the surviving spouse, executor, administrator,...
Capital loss of,
Decedent's capital loss.
Deceased spouse,
Surviving Spouses, Executors, Administrators, and Legal Representatives
Personal exemption,
Death of spouse.
Due dates,
Filing for a decedent.
Filing requirements,
Surviving Spouses, Executors, Administrators, and Legal Representatives
Funeral expenses,
Contributions to fraternal societies made...
Medical and dental expenses,
Decedent
Savings bonds,
Decedents.
Spouse's death,
Spouse died.
,
Spouse died during the year.
Standard deduction,
Decedent's final return.
Transfer of property at death,
Transactions involving business property,...
See also:
Executors and administrators
Declaration of rights of taxpayers:
IRS request for information,
The IRS Restructuring and Reform Act of 1998,...
Deduction:
Costs of discrimination suits,
Deduction for costs involved in unlawful discrimination suits.
Deductions,
The meal is business-related entertainment.
,
Entertainment Expenses
,
Alimony is deductible by the payer and must...
,
The term points is used to describe certain...
,
The buyer reduces the basis of the home by...
,
Recoveries
,
Nonbusiness Bad Debts
,
How to report bad debts.
,
Personal Exemptions and Dependents
,
Your Own Exemption
,
Capital Losses
Alimony, deductible by payer,
How To Deduct Alimony Paid
Casualty losses,
See:
Capital losses
Changing claim after filing, need to amend,
You did not claim deductions or credits you...
Charitable contributions,
How To Report
,
Contributions
See also:
Charitable contributions
Dental expenses,
See:
Medical and dental expenses
Depreciation,
Depreciation and section 179 deduction.
Educator expenses,
Educator Expenses
Estate,
Excess Deductions of an Estate
Fee-basis government officials,
Special Rules
Impairment-related work expenses,
Impairment-related work expenses of disabled employees.
,
Impairment-Related Work Expenses
Interest,
See:
Interest payments
Investment expenses,
Investment expenses.
IRA contributions,
See:
Individual retirement arrangements (IRAs)
Itemizing,
See:
Itemized deductions
Medical expenses,
See:
Medical and dental expenses
Mortgage interest,
See:
Mortgages
Not itemizing, use of Form 1040A,
You do not itemize your deductions.
Pass-through entities,
Indirect Deductions of Pass-Through Entities
Penalties, no deduction permitted,
Penalties.
Performing artists' expenses,
Expenses of certain performing artists.
Prepaid insurance premiums,
Prepaid insurance premiums.
Rental expenses,
When to deduct.
Repayments,
If you had to repay an amount that you included...
Section 179 deductions:
Adjustment to basis for,
Depreciation and section 179 deduction.
Car expenses,
Depreciation and section 179 deductions.
Self-employed persons:
Health insurance premiums,
Health Insurance Costs for Self-Employed Persons
Social security and railroad retirement benefits,
Deductions Related to Your Benefits
Standard deduction,
Standard Deduction
,
You and your spouse can use the method that...
Student loan interest deduction,
See:
Student loans
Theft loss,
Casualty and Theft Losses of Income-Producing Property
Transportation expenses,
See:
Travel and transportation expenses
Union dues,
See:
Labor unions
Work-related education,
What Expenses Can Be Deducted
See also:
Entertainment expenses
See also:
Points
See also:
Recovery of amounts previously deducted
See also:
Standard deduction
See also:
Bad debts
See also:
Personal exemption
See also:
Capital losses
Deeds:
Preparation costs for,
Preparation costs for the mortgage note or...
Recording fees, basis to include,
If you reimburse the seller for taxes the...
Deferred annuity contracts,
See:
Annuities
Deferred compensation:
Limit,
Elective deferrals.
Nonqualified plans,
Nonqualified deferred compensation plans.
Deferred compensation plans,
See:
Retirement plans
Delinquent taxes:
Real estate transactions, tax allocation,
Real estate taxes for prior years.
Delivery services,
Private delivery services.
Business-related travel expense,
Table 26-1. Travel Expenses You Can Deduct This chart summarizes expenses you can deduct when you travel away from home for business purposes.
Demutualization of life insurance companies,
Demutualization of life insurance companies.
Dental expenses,
See:
Medical and dental expenses
Dependent care:
Benefits,
Dependent Care Benefits
,
Dependent care benefits.
Center,
Dependent care center.
Credit for,
Child and Dependent Care Credit
Dependent taxpayer test,
Dependent Taxpayer Test
Dependents,
Exception for adopted child.
,
You qualify for the health coverage tax credit....
,
The education credits. (See chapter 34.)
,
Filers who have certain child dependents with an Individual Taxpayer Identification Number (ITIN).
Birth of,
Death or birth.
Born and died within year,
If your child was born and died in 2012 and...
,
If your child was born and died in 2012,...
Death of,
Death or birth.
Deceased dependent's medical and dental expenses,
What if you pay medical expenses of a deceased spouse or dependent?
Disabled dependent care expenses, deduction for,
Disabled Dependent Care Expenses
Exemption for,
Exemptions for Dependents
,
If the support of the child is determined...
Filing requirements,
Child's earnings.
Earned income, unearned income, and gross income levels (Table 1-2),
File only one federal income tax return for...
Married, filing joint return,
Joint Return Test
,
Joint Return Test (To Be a Qualifying Child)
Medical and dental expenses,
Dependent
Qualifying child,
Qualifying Child
,
Qualifying Child
Qualifying relative,
Qualifying Child
,
Qualifying Relative
Social security number,
Dependent's SSN.
Adoption taxpayer identification number,
Adoption taxpayer identification number (ATIN).
,
If your dependent is a resident or nonresident...
Alien dependents,
If your child was born and died in 2012,...
Standard deduction for,
Standard Deduction for Dependents
Travel expenses for,
Travel expenses for another individual.
Tuition deduction for,
Who Can Claim a Dependent's Expenses
See also:
Child tax credit
Dependents not allowed to claim dependents,
Dependent Taxpayer Test
Depletion allowance,
Depletion.
Deposits,
Fees and deposits.
Loss on,
Loss on Deposits
Losses on,
Loss on Deposits
,
Deposit in Insolvent or Bankrupt Financial Institution
Reporting of,
Loss on deposits.
Depreciation:
Adjustment to basis for,
Depreciation and section 179 deduction.
Cars,
Depreciation and section 179 deductions.
Change of use of property,
Basis for depreciation.
Computer,
Depreciation on Computers
Correcting amount claimed,
Claiming the correct amount of depreciation.
Form 4562:
Rental property depreciation,
You can deduct depreciation only on the part...
Home computer,
Depreciation on Home Computer
Property used in trade or business, as noncapital assets,
Depreciable property used in your trade or...
Real property:
Gain from disposition of property,
Depreciation after May 6, 1997.
Land, no depreciation of,
Land.
Rental property,
Depreciation
,
Depreciation.
Designated Roth Account:
Defined.,
Designated Roth accounts.
Designated Roth account,
Designated Roth accounts.
,
Designated Roth accounts.
Destroyed records,
Destroyed records.
Differential wage payments,
Differential wage payments.
Differential wages:
Wages for reservists:
Military reserves,
Differential wage payments.
Direct deposit of refunds,
If your refund for 2012 is large, you may...
Directors' fees,
Corporate director.
Disabilities, persons with,
Credit for the Elderly or the Disabled
,
Qualifying Person Test
,
Physically or mentally not able to care for oneself.
Accrued leave payment,
Accrued leave payment.
Armed forces,
Disability.
Blind,
See:
Blind persons
Cafeteria plans,
Cafeteria plans.
Credit for,
See:
Elderly or disabled, credit for
Dependent who is disabled, deduction for care expenses,
Disabled Dependent Care Expenses
Impairment-related work expenses of,
Impairment-related work expenses of disabled employees.
,
Impairment-Related Work Expenses
Work-related education,
Impairment-Related Work Expenses
Insurance costs,
Cost paid by you.
Military and government pensions,
Military and Government Disability Pensions
Public assistance benefits,
Persons with disabilities.
Reporting of disability pension income,
If you retired on disability, you must include...
Retirement, pensions, and profit-sharing plans,
Sickness and Injury Benefits
,
Retirement and profit-sharing plans.
Signing of return by court-appointed representative,
Court-appointed, conservator, or other fiduciary.
Social security and railroad retirement benefits, deductions for,
Disability payments.
Terrorist attack as cause of injury, disability payments excluded from taxation,
Disability pensions.
,
Disability payments for injuries incurred...
Workers' compensation,
Workers' Compensation
See also:
Elderly or the disabled
Disability:
Income,
Disability income.
Disability benefits:
Earned income credit,
Even if you have an approved Form 4029, all...
Disability insurance payments:
Earned income credit,
Disability insurance payments.
Disability, permanent and total disability,
Permanent and total disability.
Disabled:
Child,
Permanently and totally disabled.
Dependent,
Disabled dependent working at sheltered workshop.
Disaster Assistance Act of 1988:
Withholding,
Payments under the Agricultural Act of 1949...
Disaster relief,
Disability pensions.
,
Disability payments for injuries incurred...
,
Disaster relief payments.
,
Terrorist attack or military action.
Cash gifts to victims,
Cash gifts.
Disaster Relief and Emergency Assistance Act:
Grants,
Do not include post-disaster grants received...
Unemployment assistance,
Unemployment compensation generally includes...
Employer's emergency disaster fund,
Employer's emergency disaster fund.
Government-ordered demolition or relocation of home that is unsafe due to,
Government-ordered demolition or relocation...
Grants or payments,
Do not include post-disaster grants received...
Replacement of lost or destroyed property,
Disaster relief.
See also:
Terrorist attacks
Discharge of qualified principal residence indebtedness,
Discharges of qualified principal residence indebtedness.
,
Any Form 982 you filed to report any discharge...
Disclosure statement,
Disclosure statement.
Discount, bonds and notes issued at,
Original Issue Discount (OID)
Discounted debt instruments:
Capital gain or loss,
Discounted Debt Instruments
Discounts:
Employee discounts, effect on basis,
A bargain purchase is a purchase of an item...
Distributions,
Eligible rollover distributions.
Early,
See:
Early withdrawal from deferred interest account
Liquidating distributions,
Liquidating distributions, sometimes called...
Lump sum,
See:
Lump-sum distributions
Nondividend distributions,
Nondividend Distributions
Qualified charitable,
Qualified charitable distributions (QCD).
Qualified reservist,
Qualified reservist distributions.
Required minimum distributions,
Required distributions.
,
Required distributions.
,
You cannot keep funds in a traditional IRA...
See also:
Pensions
See also:
Individual retirement arrangements (IRAs)
Return of capital,
Nondividend Distributions
See also:
Rollovers
District of Columbia:
First-time homebuyer credit,
District of Columbia first-time homebuyer...
Dividends,
For more information about how to report...
,
Dividends and Other Distributions
,
Form 1099-DIV.
Alaska Permanent Fund,
See:
Alaska Permanent Fund dividends
As stock dividends and stock rights,
Distributions of Stock and Stock Rights
Backup withholding,
Backup withholding.
Beneficiary of estate or trust receiving,
Beneficiary of an estate or trust.
Buying more stock with,
Dividends Used to Buy More Stock
Defined,
Dividends are distributions of money, stock,...
Exempt-interest dividends,
Other Distributions
Expenses related to, deduction of,
Expenses related to dividend income.
Fees to collect,
Fees to Collect Interest and Dividends
Foreign income,
Foreign-source income.
Holding period, determination of,
Stock dividends.
Insurance dividends,
Dividends on insurance policies.
Money market funds,
Money Market Funds
Nominees receiving on behalf of another,
Nominees.
Nondividend distributions,
Nondividend Distributions
Ordinary dividends,
Ordinary Dividends
Patronage dividends,
Patronage dividends.
Qualified,
Qualified dividends.
,
Qualified Dividends
Real estate investment trusts (REITs) paying,
Capital gain distributions (also called capital...
Redemption treated as,
Dividend versus sale or trade.
Reinvestment plans,
Dividends Used to Buy More Stock
Reporting of,
How To Report Dividend Income
As interest,
Dividends are distributions of money, stock,...
Scrip dividends,
Scrip dividends.
Sold stock,
Dividends on stock sold.
Stockholder debts when canceled as,
Stockholder debt.
Veterans' insurance,
Dividends on veterans' insurance.
See also:
Form 1099-DIV
Divorced parents,
Children of divorced or separated parents (or parents who live apart).
,
Applying this special rule to divorced or separated parents (or parents who live apart).
Divorced taxpayers,
Alimony.
Child and dependent care credit,
Child of divorced or separated parents or parents living apart.
Child custody,
Custodial parent and noncustodial parent.
Definition of divorce instrument for purposes of alimony,
Divorce or separation instrument.
Estimated tax payments,
Divorced Taxpayers
Filing status,
Divorced persons.
,
Divorced persons.
IRAs,
Note.
,
Transfers Incident to Divorce
Medical and dental expenses of children of,
Child of divorced or separated parents.
Mortgage interest, payment as alimony,
Divorced or separated individuals.
Personal exemption,
Divorced or separated spouse.
Real estate taxes, allocation of,
Divorced individuals.
Transfers between spouses,
The basis of property transferred to you...
,
A transfer of property is incident to a divorce...
Use of home after divorce,
Use of home after divorce.
See also:
Alimony
Doctors' bills,
See:
Medical and dental expenses
Documentary evidence:
Recordkeeping requirements,
Documentary evidence.
Domestic help:
Withholding,
Household workers.
Domestic help, no exemption for,
Housekeepers, maids, or servants.
Domestic relations orders, qualified (QDROs):
Rollover of retirement plan distribution,
Qualified domestic relations order (QDRO).
Donations,
See:
Charitable contributions
Down payment assistance,
Down payment assistance.
Droughts:
Losses of property due to,
Most losses of property caused by droughts....
Dry cleaning:
Business-related travel expense,
Table 26-1. Travel Expenses You Can Deduct This chart summarizes expenses you can deduct when you travel away from home for business purposes.
,
The term incidental expenses means fees and...
Dual-status taxpayers,
Dual-status taxpayer.
Joint returns not available,
Nonresident alien or dual-status alien.
Standard deduction,
You are a nonresident or dual-status alien...
Due dates,
Amount you owe.
,
When Do I Have To File?
,
Private delivery services.
Disaster areas, postponed deadlines,
Postponed tax deadlines.
Extension,
See:
Extension of time to file
Nonresident aliens' returns,
Nonresident alien.
Due diligence:
Child and dependent care credit,
Due diligence.
Dues:
Chamber of Commerce,
Dues to Chambers of Commerce and Professional Societies
Club,
Club Dues
Union,
Union Dues and Expenses
Dwelling units,
Dividing Expenses
,
Examples.
,
Keeping Up a Home
Cooperative,
See:
Cooperative housing
Defined,
Dwelling unit.
Renting,
See:
Rental income and expenses
See also:
Vacation homes
See also:
Home
E
E-file,
Free electronic filing.
,
File online.
,
IRS e-file
Extensions of time to file,
Filing a paper form.
On time filing,
Filing electronic returns on time.
Early withdrawal from deferred interest account:
Annuities,
A tax-sheltered annuity plan, or
Form 1099-R reporting,
See:
Form 1099-R
Form 5329 reporting,
See:
Form 5329
Higher education expenses, exception from penalty,
IRA interest.
IRAs:
Early distributions, defined,
Early distributions defined.
Penalties,
Early distributions tax.
,
Early Distributions
Section 457 deferred compensation plans,
An eligible state or local government section...
Tax on,
Special Additional Taxes
,
Tax on Early Distributions
Earned income,
Earned income generally means wages, salaries,...
Child and dependent care credit,
To claim the credit, you (and your spouse...
Defined:
For purposes of standard deduction,
Earned income defined.
Dependent filing requirements (Table 1-2),
File only one federal income tax return for...
Employee,
Rule 7. You Must Have Earned Income
Self-employed,
Rule 7. You Must Have Earned Income
Earned income credit,
Earned Income Credit (EIC)
,
Earned income credit.
,
Earned income credit.
,
Earned income credit.
Disability benefits,
Disability Benefits
Disability insurance payments,
Beginning on the day after you reach minimum...
Filing claim,
You qualify for the earned income credit....
Foster child,
Foster child.
Married filing separately,
Special Rules
Military personnel,
Military personnel stationed outside the United States.
Social security card,
Social security number.
Social security number,
Social security number.
Two persons with same qualifying child,
The earned income credit.
Earthquakes,
Disaster relief.
Casualty loss caused by,
Earthquakes.
See also:
Disaster relief
Easements:
Adjustment to basis for,
Easements.
Education:
Savings bond program,
Education Savings Bond Program
Education credits,
The child tax credit. (See chapter 33.)
,
Education Credits
Academic period,
Academic period.
Eligible educational institution,
Eligible educational institution.
Married filing separately,
Special Rules
Education expenses:
Employer-provided,
See:
Educational assistance
Teacher's out-of-pocket expenses,
Educator Expenses
Tuition,
See:
Qualified tuition programs
Work-related education, deduction of expenses,
Cruises and conventions.
Educational assistance:
Employer-provided,
Educational Assistance
Tuition deduction, effect on,
Employer-provided educational assistance...
Scholarships,
See:
Scholarships and fellowships
Tuition,
See:
Qualified tuition programs
Educational institution,
See:
Eligible educational institution
Educational organizations:
As related party in transactions,
A tax-exempt charitable or educational organization...
Charitable contributions to,
Most nonprofit educational organizations,...
Educator Expenses,
Educator Expenses
Educator out-of-pocket expenses,
Educator Expenses
EE series bonds,
See:
U.S. savings bonds
EIC,
See:
Earned income credit
EITC Assistant,
Online help.
Elderly or disabled, credit for,
The credit for the elderly or the disabled....
Married filing separately,
Special Rules
Elderly persons,
Retirement Plans, Pensions, and Annuities
Credit for,
See:
Elderly or disabled, credit for
Exemption from withholding,
Age 65 or older or blind.
Home for the aged,
Home for the aged.
Long-term care,
See:
Long-term care insurance contracts
Nutrition Program for the Elderly,
Nutrition Program for the Elderly.
Standard deduction for age 65 or older,
,
Higher Standard Deduction for Age (65 or Older)
Tax Counseling for the Elderly,
Free Help With Your Return
See also:
Pensions
Election precinct officials:
Fees, reporting of,
Election precinct official.
Election to include child's income on parent's return,
Parent's Election To Report Child's Interest and Dividends
,
Inclusion of child's income on parent's return (Figure 30-A),
If you make this election for 2012 and did...
Elective deferrals,
Retirement Plans, Pensions, and Annuities
Limits,
Elective deferrals.
See also:
Retirement plans
Electronic filing,
See:
E-file
Electronic payment options,
You can pay your taxes online or by phone....
Electronic reporting:
Returns,
See:
E-file
Tip statement from employees to employers,
Electronic tip statement.
Eligible educational institution:
Education credits,
Eligible educational institution.
Foreign schools,
An eligible educational institution is any...
,
An eligible educational institution is any...
Student loan interest deduction,
Eligible educational institution.
Tuition and fees deduction,
An eligible educational institution is any...
Eligible student:
Student loan interest deduction,
Eligible student.
Tuition and fees deduction,
Who Is an Eligible Student
Embezzlement:
Losses due to,
Embezzlement.
Reporting embezzled funds,
Illegal activities.
Emergency Homeowners' Loan Program,
Hardest Hit Fund and Emergency Homeowners' Loan Programs.
Emergency medical service personnel:
Life insurance proceeds when death in line of duty,
For this purpose, the term public safety...
Emotional distress damages,
Emotional distress.
Employee benefits,
Fringe Benefits
,
De Minimis (Minimal) Benefits
See also:
Fringe benefits
Employee business expenses,
Car Expenses and Other Employee Business Expenses
Commuting expenses,
Commuting expenses.
Deductions for,
You may be able to deduct the ordinary and...
,
Who does not need to use this chapter.
Form 2106 for deducting,
If you are both self-employed and an employee,...
Impairment-related work expenses, deduction for,
Impairment-related work expenses of disabled employees.
,
Impairment-Related Work Expenses
Meals,
See:
Meal and lodging expenses
Reimbursements,
A per diem allowance is a fixed amount of...
,
Per Diem and Car Allowances
,
Reporting your expenses with a per diem or car allowance.
,
If you receive travel, transportation, or...
,
Expense allowances.
Returning excess,
Returning Excess Reimbursements
See also:
Per diem
Returning excess,
Expense allowances.
Travel,
See:
Travel and transportation expenses
Work-related education,
Tax Benefits for Work-Related Education
,
If you are an employee, you can deduct the...
Employee expenses:
Home computer,
Depreciation on Computers
,
Depreciation on Home Computer
Miscellaneous,
Unreimbursed Employee Expenses (Line 21)
Employees,
Fringe Benefits
,
De Minimis (Minimal) Benefits
,
Expense allowances.
Awards for service,
Bonuses and awards.
Business expenses,
See:
Employee business expenses
Discounts for, effect on basis,
A bargain purchase is a purchase of an item...
Form W-4 to be filled out when starting new job,
New Form W-4.
Fringe benefits,
Taxable Fringe Benefits
Jury duty pay,
Jury duty pay you receive must be included...
Overseas employment,
See:
Foreign employment
See also:
Fringe benefits
Employees of the intelligence community,
Members of the uniformed services or Foreign Service, employees of the intelligence community, or employees or volunteers of the Peace Corps.
Employers:
E-file options,
Through Employers and Financial Institutions
Educational assistance from,
See:
Educational assistance
Form W-4, having new employees fill out,
New Form W-4.
Overseas employment,
See:
Foreign employment
Withholding rules,
Rules Your Employer Must Follow
Employment:
Agency fees,
Employment agency fees.
,
You can deduct certain expenses you have...
Résumé expenses,
Résumé.
Taxes,
Social security and Medicare taxes paid by employer.
FICA withholding,
Form W-2.
See also:
Withholding
Tip income,
On Form 1040EZ, you can use only the tax...
,
You received $20 or more in tips in any 1...
,
Your employer can report the correct amount...
See also:
Social security and Medicare taxes
Employment taxes,
Credit for Withholding and Estimated Tax for 2012
,
Withholding
,
Credit for withholding and estimated tax....
,
Determining Amount of Tax Withheld Using Form W-4
,
Employment Taxes for Household Employers
,
You may have to pay employment taxes.
,
Household services.
See also:
Social security and Medicare taxes
Endowment proceeds,
Endowment Contract Proceeds
Energy assistance,
Payments to reduce cost of winter energy.
Energy conservation:
Measures and modifications,
Energy conservation measure.
Subsidies,
Energy conservation subsidies.
Exclusion as adjustment to basis,
Exclusion of subsidies for energy conservation measures.
Utility rebates,
Utility rebates.
Entertainers and musicians,
Examples of workers who may be able to deduct...
Entertainment expenses,
The meal is business-related entertainment.
,
Entertainment Expenses
50% limit,
50% Limit
Figure 26-A summary of rules,
Entertainment expenses: 50% limit
Allocation of costs,
Separating expenses.
,
Separating costs.
Business-related gifts vs.,
Gift or entertainment.
Form 2106 or 2106-EZ, how to fill out,
Meal and entertainment expenses.
Meal expenses included,
A meal as a form of entertainment.
Proof of expenses,
How To Prove Expenses
Table 26-2 summary,
You do not need to put confidential information...
Recordkeeping requirements,
Recordkeeping
Reporting of,
How To Report
Table 26-3 showing forms to be used,
Your employer sends you on a 5-day business...
Taking turns paying for meals or entertainment,
Taking turns paying for meals or entertainment.
Tickets,
Entertainment tickets.
Face-value as deductible amount,
Entertainment includes any activity generally...
Gift vs. entertainment deduction,
If you give a customer tickets to a theater...
Entertainment facilities:
Expenses for use of,
Entertainment facilities.
Equipment,
Hauling tools or instruments.
Rental for rental property,
Rental of equipment.
See also:
Tools
Equitable relief,
See:
Innocent spouse relief
Errors:
Corrected wage and tax statement,
If you receive a form with incorrect information...
Depreciation, correcting amount on Form 1040X,
Claiming the correct amount of depreciation.
Discovery after filing, need to amend return,
What If I Made a Mistake?
Form 1099 showing incorrect amount,
Incorrect amount shown on a Form 1099.
Refunds,
Interest on erroneous refund.
Escrow:
Taxes placed in, when deductible,
Taxes placed in escrow.
Estate beneficiaries,
Inherited Property
,
Inherited property from someone who died in 2010.
Dividends received by,
Beneficiary of an estate or trust.
IRAs,
See:
Individual retirement arrangements (IRAs)
Losses of estate,
Losses.
Receiving income from estate,
An estate or trust, unlike a partnership,...
,
If you are the beneficiary of an estate or...
Rollover restrictions,
A distribution paid to a beneficiary other...
See also:
Inheritance
Estate tax:
Deduction,
Estate, inheritance, legacy, or succession...
Estates:
Income,
An estate or trust, unlike a partnership,...
Investment interest,
Partners, shareholders, and beneficiaries.
Tax,
Estate, inheritance, legacy, or succession...
,
Federal Estate Tax on Income in Respect of a Decedent
Survivor's annuity,
Estate tax deduction.
See also:
Estate tax
See also:
Estate beneficiaries
Estimated:
Credit for,
Estimated Tax
Payment vouchers,
Send in your payment (check or money order)...
Estimated tax,
Tax Withholding and Estimated Tax
Amount to pay to avoid penalty,
How much to pay to avoid a penalty.
Avoiding,
Who Does Not Have To Pay Estimated Tax
Change in estimated tax,
Change in estimated tax.
Credit for,
Credit for Withholding and Estimated Tax for 2012
,
Credit for withholding and estimated tax....
Definition,
Estimated tax. If you do not pay your tax...
Divorced taxpayers,
Divorced Taxpayers
Figuring amount of tax,
How To Figure Estimated Tax
First period, no income subject to estimated tax in,
No income subject to estimated tax during first period.
Fiscal year taxpayers,
Fiscal year taxpayers.
Married taxpayers,
Married taxpayers.
Name change,
Name changed.
Not required,
Estimated tax not required.
Overpayment applied to,
Refunds
Payment vouchers,
Pay by Check or Money Order Using the Estimated Tax Payment Voucher
Payments,
Estimated tax payments.
,
How To Pay Estimated Tax
Figuring amount of each payment,
How To Figure Each Payment
Schedule,
When To Pay Estimated Tax
,
If you do not have income subject to estimated...
When to start,
When To Start
Who must make,
Who Must Pay Estimated Tax
Penalty for underpayment,
Underpayment Penalty for 2012
,
IRS can figure the penalty for you.
,
Underpayment penalty.
,
Underpayment penalty. If you did not pay...
,
Penalty for underpayment of estimated tax.
Pension payments,
Withholding and estimated tax.
Saturday, Sunday, holiday rule,
Saturday, Sunday, holiday rule.
Separate returns,
Separate Returns
Social security or railroad retirement benefits,
Tax withholding and estimated tax.
State and local income taxes, deduction of,
Estimated tax payments.
Unemployment compensation,
If you do not choose to have tax withheld...
Estimates:
Travel expenses,
You cannot deduct amounts that you approximate...
Excess benefits tax,
See:
Section 72(m)(5)
Excess reimbursements:
Business expense reimbursements,
Returning Excess Reimbursements
Medical expenses,
Excess reimbursement.
Excess reimbursement flowchart (Figure 21-A),
However, do not report as income the amount...
Excess withholding credit,
Credit for Excess Social Security Tax or Railroad Retirement Tax Withheld
How to take,
How to take the credit.
Joint returns,
Employer's error.
Exchange students:
Expenses paid for, deductible when under agreement with qualified organization,
Expenses Paid for Student Living With You
Exchanges,
What Is a Sale or Trade?
,
How to report.
Like-kind exchanges,
Like-Kind Exchanges
,
Like-kind exchanges.
Partially nontaxable exchange,
Partially nontaxable exchanges.
,
Partly nontaxable exchange.
Tax-free:
Definition of,
Nontaxable Exchanges
Holding period, determination of,
Nontaxable trades.
Taxable exchange, defined,
Taxable Exchanges
See also:
Trade of property
Excise taxes:
Basis to include,
Excise taxes,
IRAs for failure to take minimum distributions,
You cannot keep funds in a traditional IRA...
Roth IRAs,
What if You Contribute Too Much?
See also:
Penalties
Exclusions from gross income:
Accelerated death benefits,
Accelerated Death Benefits
Annuities,
Exclusion limit.
Canceled debt,
Excluded debt.
Capital gains from home sale,
See:
Sale of home
Commuting benefits for employees,
Exclusion limit.
De minimis benefits,
De Minimis (Minimal) Benefits
Disability pensions of federal employees and military,
Military and Government Disability Pensions
,
Conditions for exclusion.
Education Savings Bond Program,
Interest on qualified savings bonds.
Educational assistance from employer,
Educational Assistance
Elective deferrals, limit on exclusion,
Elective deferrals.
Employee awards,
Employee achievement award.
Energy conservation subsidies,
Energy conservation subsidies.
,
A nonrefundable credit against the purchase...
Foreign earned income,
If you live outside the United States, you...
Frozen deposit interest,
Interest on frozen deposits.
Group-term life insurance,
Entire cost excluded.
Long-term care insurance contracts,
Long-Term Care Insurance Contracts
,
Limit on exclusion.
Parking fees, employer-provided,
Qualified bicycle commuting reimbursement.
Public safety officers who died or were killed in line of duty, death benefits,
Public Safety Officer Killed in the Line of Duty
Sale of home,
Sale of home.
Scholarships,
Scholarships and fellowships.
Strike benefits,
Strike and lockout benefits.
Terrorist attack as cause of injury, disability payments,
Disability pensions.
,
Disability payments for injuries incurred...
Executors and administrators,
You are the surviving spouse, executor, administrator,...
Related party transactions,
An executor and a beneficiary of an estate...
Exempt-interest dividends,
Exempt-interest dividends.
Alternative minimum tax,
Alternative minimum tax treatment.
Dividend reporting,
Exempt-interest dividends.
Information-reporting requirement,
Information reporting requirement.
Exemption from foreign tax credit limit,
Exception.
Exemptions:
Dependents,
Exemptions for Dependents
,
If the support of the child is determined...
From withholding,
Exemption From Withholding
Personal,
See:
Personal exemption
Phaseout,
Special Rules
Securities, tax-exempt,
See:
Securities
State or local government bonds, tax-exempt,
Tax-exempt state and local government bonds.
Expatriates,
Expatriates.
Expenses paid by another,
Expenses paid by another.
Extension of time to file,
Extensions of Time To File
Automatic,
Automatic Extension
,
When to file.
Citizens outside U.S.,
Individuals Outside the United States
E-file options,
Filing a paper form.
Inclusion on return,
When you file your return.
Extortion:
Losses due to,
Extortion.
Extravagant expenses,
Lavish or extravagant expenses.
F
Failure to comply with tax laws,
See:
Penalties
Fair market value (FMV):
Casualty loss,
Decrease in Fair Market Value
Definition of,
Fair market value (FMV).
Sales of property,
Fair market value.
Stolen property,
FMV of stolen property.
Fair rental price,
Fair rental price.
Fair rental value,
Fair rental value defined.
Family,
Related Party Transactions
,
Child's earnings.
,
Adopted child.
,
Step 3. Figuring the Child's Tax (Form 8615, Part III)
Adoption credit,
See:
Adoption
Standard meal allowance not allowed if related to employer,
Related to employer.
See also:
Related party transactions
See also:
Children
See also:
Child tax credit
Farmers:
Estimated tax,
Special rules for farmers, fishermen, and higher income taxpayers.
Withholding,
Farmworkers.
Farming:
Activity not for profit,
Activity not for profit.
Canceled debt, treatment of,
The debt is qualified farm debt and is canceled...
Patronage dividends,
Patronage dividends.
Federal crime investigations or prosecutions:
Travel expenses,
Exception for federal crime investigations or prosecutions.
Federal employees:
Accrued leave payment,
If you are a federal employee and receive...
Cost-of-living allowances,
Government cost-of-living allowances.
Disability pensions,
Military and Government Disability Pensions
Based on years of service,
Pension based on years of service.
Exclusion, conditions for,
Conditions for exclusion.
Terrorist attack,
Terrorist attack or military action.
FECA payments,
Federal Employees' Compensation Act (FECA).
Federal Employees' Compensation Act (FECA) payments,
Federal Employees' Compensation Act (FECA).
Federal government:
Charitable contributions to,
The United States or any state, the District...
Employees,
See:
Federal employees
Federal income tax:
Interest on, not deductible,
Interest on federal, state, or local income...
Not deductible,
Federal income taxes. This includes income...
,
Fines and penalties. You cannot deduct fines...
Federal judges:
Employer retirement plan coverage,
Federal judges.
Fee-basis officials:
Business expenses of,
Special Rules
Work-related education expenses,
Performing Artists and Fee-Basis Officials
Fees,
Fees for services.
,
Fees and deposits.
Professional license,
Professional Accreditation Fees
See also:
specific types of deductions and income
Fees, comprehensive/ bundled,
Comprehensive or bundled fees.
Fellowships,
See:
Scholarships and fellowships
FICA withholding,
Form W-2.
,
Social security and Medicare taxes paid by employer.
,
Credit for withholding and estimated tax....
See also:
Withholding
See also:
Social security and Medicare taxes
Fiduciaries,
You are the surviving spouse, executor, administrator,...
,
Trustees' fees.
,
Trustees' fees.
Fees for services,
Personal representatives.
Prohibited transactions,
Disqualified persons include your fiduciary...
Related party transactions,
A grantor and fiduciary, or the fiduciary...
See also:
Executors and administrators
See also:
Trustees
Figures,
See:
Tables and figures
Figuring taxes and credits,
How Do You Figure the Deduction
,
How Do You Figure the Deduction
,
Worksheet 11-1.
,
How to figure the credit if you did not work for a railroad.
,
Figuring Your Tax
See also:
Worksheets
Filing requirements,
Identity theft.
,
Married Filing Separately
Calendar year filers,
When Do I Have To File?
Citizens outside U.S.,
U.S. Citizens and Resident Aliens Living Abroad
Dependents,
File only one federal income tax return for...
,
Child's earnings.
Electronic,
See:
E-file
Extensions,
Extensions of Time To File
Gross income levels (Table 1-1),
Filing Information
Individual taxpayers,
Individuals—In General
Joint filing,
Married Filing Jointly
,
Accounting period.
,
Separation of liability, (available only...
See also:
Joint returns
Late filing penalties,
See:
Penalties
Most taxpayers (Table 1-1),
Filing Information
Other situations requiring filing (Table 1-3),
On Form 1040EZ, you can use only the tax...
Unmarried persons,
See:
Single taxpayers
When to file,
When Do I Have To File?
Where to file,
Mailing your return.
,
Where Do I File?
Who must file,
What's New
,
Do I Have To File a Return?
,
Who Should File
See also:
Married filing separately
Filing status,
Filing status.
,
Filing Status
,
You may be eligible to file as a qualifying...
Annulled marriages,
Annulled marriages.
Change to, after time of filing,
You should have claimed a different filing...
Divorced taxpayers,
Divorced persons.
Head of household,
Head of household or qualifying widow(er) with dependent child.
,
Head of Household
Qualifying person to file as,
Qualifying Person
Joint returns,
Married Filing Jointly
Married filing a joint return,
Rule 4. You Must Be a U.S. Citizen or Resident Alien All Year
Married filing separately,
Married Filing Separately
,
Rule 3. Your Filing Status Cannot Be Married Filing Separately
Surviving spouse,
Head of household or qualifying widow(er) with dependent child.
Unmarried persons,
Individuals—In General
,
Unmarried persons.
See also:
Single taxpayers
Final return for decedent:
Capital loss deduction on,
A capital loss sustained by a decedent during...
Medical expenses,
Decedent
Standard deduction,
Decedent's final return.
Finance charges:
Credit cards, retail installment contracts, etc., not deductible,
Finance charges on credit cards, retail installment...
Financial institutions,
Deposit in Insolvent or Bankrupt Financial Institution
,
You can open different kinds of IRAs with...
See also:
Banks
Financially disabled persons,
Financially disabled.
Fines,
Filing late.
,
Filing late.
,
Paying tax late.
,
Criminal Penalties
Deductibility,
Fines or Penalties
See also:
Penalties
Firefighters:
Life insurance proceeds when death in line of duty,
For this purpose, the term public safety...
Volunteer firefighters:
Charitable contributions to,
Nonprofit volunteer fire companies.
IRAs,
Volunteer firefighters.
Fires:
Arson, no casualty loss for,
A fire if you willfully set it or pay someone...
Casualty loss caused by,
Fires (but see Nondeductible losses, next,...
,
Example.
First-time homebuyer credit,
District of Columbia first-time homebuyer...
First-year expensing,
See:
Section 179 deductions
Fiscal year,
Accounting Periods
,
Fiscal year taxpayers.
,
Fiscal Years
Fishermen:
Estimated tax,
Special rules for farmers, fishermen, and higher income taxpayers.
Indian fishing rights,
Indian fishing rights.
Fleet operations:
Standard mileage rate not allowed,
Use five or more cars at the same time (as...
Flexible spending account or arrangement,
Long-term care services.
Floods,
Disaster relief.
Casualty loss caused by,
Floods.
See also:
Disaster relief
FMV,
See:
Fair market value
Food benefits:
Nutrition program for the elderly,
Food benefits you receive under the Nutrition...
Food stamps,
Support provided by the state (welfare, food stamps, housing, etc.).
Foreclosure,
A mortgage may end early due to a prepayment,...
,
Foreclosure or repossession.
Foreign charitable organizations:
Canadian charities contributions to,
Certain foreign charitable organizations.
Other foreign charities contributions to,
Certain foreign charitable organizations.
Foreign children:
Adoption credit,
Foreign child.
Foreign employment,
Employees of foreign governments or international organizations.
,
Foreign Employer
Employment abroad,
Employment abroad.
Pension plan contributions,
Foreign employment contributions.
Social security and Medicare taxes,
Social security and Medicare taxes.
U.S. citizen,
U.S. citizen.
Waiver of alien status,
Waiver of alien status.
Foreign governments, employees of,
Employees of international organizations or foreign governments.
Foreign income:
Dividends,
Foreign-source income.
Earned income exclusion,
If you live outside the United States, you...
Reporting of,
Foreign source income.
Foreign income taxes:
Deduction of,
Foreign Income Taxes
Form 1116 to claim credit,
Foreign income taxes.
Schedule A or Form 1040 reporting,
Foreign income taxes.
Definition of,
Foreign taxes.
Foreign nationals,
See:
Resident aliens
Foreign organizations:
Charitable contributions to,
Homeowners' associations.
Foreign schools,
An eligible educational institution is any...
,
An eligible educational institution is any...
Foreign Service,
Members of the uniformed services or Foreign Service, employees of the intelligence community, or employees or volunteers of the Peace Corps.
Foreign students,
Foreign students' place of residence.
Expenses paid for, deductible when under agreement with qualified organization,
Expenses Paid for Student Living With You
Foreign tax credit,
Foreign Tax Credit
How to take,
How to take the credit.
Limit on,
Limit on the credit.
Forgiveness of debt,
See:
Cancellation of debt
Form,
On Form 1040EZ, you can use only the tax...
1040,
Form 1040.
,
Form 1040 Line Entries
Address,
Name and Address
Adoption expenses,
How to take the credit.
Alaska Permanent Fund dividends,
Do not report these amounts as dividends....
Alien taxpayer identification numbers,
If your child was born and died in 2012,...
Alternative minimum tax, nonrefundable credit for prior year tax,
How to take the credit.
Armed forces' retirement pay,
Military retirement pay.
Attachments to,
Form 1040.
Capital gains,
If you receive capital gain distributions,...
Charitable contributions, deduction to be itemized,
Form 1040 required.
Child's capital gain distributions,
If part of the amount you report is your...
Clergy pension,
A pension or retirement pay for a member...
Deduction for alimony paid,
How To Deduct Alimony Paid
Disability retirement pay,
If you retired on disability, you must include...
Dividends,
Generally, you can use either Form 1040 or...
,
Form 1040A or 1040.
Educator expenses,
Educator Expenses
Excess withholding credit,
How to take the credit.
FECA benefits,
Payments you receive as sick pay under the...
Foreign tax credit,
How to take the credit.
Health insurance credit,
How to take the credit.
Insurance distributions,
If dividends on an insurance contract (other...
IRAs,
Report fully taxable distributions, including...
,
Filing a tax return.
Mortgage interest credit,
Figure your 2012 credit and any carryforward...
Personal exemption,
If you file Form 1040A, complete lines 6a...
Presidential Election Campaign Fund,
Presidential Election Campaign Fund
Railroad retirement benefits, reporting on,
Reporting on Form 1040.
Recapture of alimony,
Including the recapture in income.
Reporting of alimony received,
How To Report Alimony Received
Reporting taxes on tips not reported to employer,
If you received $20 or more in cash and charge...
Reporting uncollected taxes on tips,
To report these uncollected taxes, you must...
Schedule A:, Mortgage interest deduction,
Reduced home mortgage interest deduction.
Social security benefits, reporting on,
Reporting on Form 1040.
Student loan interest deduction,
To claim the deduction, enter the allowable...
Tip income reporting,
Report your tips with your wages on Form...
Undistributed long-term capital gains,
Credit for Tax on Undistributed Capital Gain
Use of,
Form 1040
,
How to file.
,
If you and your spouse each have income,...
,
Your filing status may be single if you were...
Wages and salary reporting,
If you are an employee, you should receive...
Workers' compensation,
If you return to work after qualifying for...
1040, Schedule A:
Charitable contributions,
How To Report
,
To deduct a charitable contribution, you...
,
Send your check to: Bureau of the Public...
Employee business expense deduction,
After you have completed your Form 2106 or...
,
If you are an employee, deduct employee business...
Federal employees buying back sick leave,
You can deduct the amount you spend to buy...
Gifts, deduction of,
If you did not receive any reimbursements...
Investment expenses deduction,
The investment expenses included on Schedule...
Investment interest deduction,
Deduct investment interest, subject to certain...
Itemized deduction limit,
If you decide to itemize your deductions,...
Loss of deposits due to bank's insolvency or bankruptcy cause,
Ordinary loss — report it on Schedule A (Form...
Medical and dental expenses,
You figure your medical expense deduction...
Outplacement services, deduction,
However, you can deduct the value of these...
Travel expenses, deduction of,
However, if your actual expenses are more...
Unearned commission, deduction for repayment of,
If you repay unearned commissions or other...
1040, Schedule B:
Dividends,
You must complete Schedule B (Form 1040A...
1040, Schedule C:
Barter income,
Generally, you report this income on Schedule...
Child care providers,
If you provide childcare, either in the child's...
Corporate director fees,
Corporate director.
Forgiveness of debts,
If the debt is a nonbusiness debt, report...
Foster-care providers,
If you receive payments that you must include...
Kickbacks,
You must include kickbacks, side commissions,...
Notary fees,
Report payments for these services on Schedule...
Oil, gas, or mineral interest royalties,
Royalties from copyrights, patents, and oil,...
Rental income and expenses,
The basic form for reporting residential...
,
If you are in the business of renting personal...
Statutory employees,
If you received a Form W-2 and the Statutory...
Work-related education expenses,
If you are self-employed, report the cost...
1040, Schedule C-EZ:
Child care providers,
If you provide childcare, either in the child's...
Corporate director fees,
Corporate director.
Foster-care providers,
If you receive payments that you must include...
Kickbacks,
You must include kickbacks, side commissions,...
Notary fees,
Report payments for these services on Schedule...
Oil, gas, or mineral interest royalties,
Royalties from copyrights, patents, and oil,...
Rental income and expenses,
The basic form for reporting residential...
,
If you are in the business of renting personal...
Statutory employees,
If you received a Form W-2 and the Statutory...
Work-related education expenses,
If you are self-employed, report the cost...
1040, Schedule D:
Business property sales,
How to report.
Capital gains or losses,
Reporting Gains and Losses
,
Reporting Capital Gains and Losses
Child's capital gain distributions,
If part of the amount you report is your...
Form 8949,
Reporting Gains and Losses
Fractional shares, sale of,
You may not own enough stock in a corporation...
Nonbusiness bad debts, loss of deposits due to bank's insolvency or bankruptcy,
Nonbusiness bad debt — report it on Form...
Sale expenses,
On Form 8949, include in column (g) any expense...
Undistributed long-term capital gains,
Undistributed long-term capital gains from...
Worthless securities,
Report worthless securities in Part I or...
1040, Schedule E:
Income-producing property, deduction of interest on loan for,
Income-producing rental or royalty interest.
Rental income and expenses,
How To Report Rental Income and Expenses
,
If you paid $600 or more of mortgage interest...
,
Schedule E (Form 1040)
Royalties,
Royalties
1040, Schedule F:
Self-employed persons,
If you are both self-employed and an employee,...
Work-related education expenses,
If you are self-employed, report the cost...
1040, Schedule SE,
Self-employment can include work in addition...
,
Special rules for housing apply to members...
1040A,
Form 1040A.
,
Form 1040A Line Entries
Address,
Name and Address
Adoption expenses,
How to take the credit.
Alaska Permanent Fund dividends,
Do not report these amounts as dividends....
Alien taxpayer identification numbers,
If your child was born and died in 2012,...
Armed forces' retirement pay,
Military retirement pay.
Attachments to return,
Form 1040A.
Capital gains,
If you receive capital gain distributions,...
Clergy pension,
A pension or retirement pay for a member...
Disability retirement pay,
If you retired on disability, you must include...
Dividends,
Generally, you can use either Form 1040 or...
Educator expenses,
Educator Expenses
Excess withholding credit,
How to take the credit.
FECA benefits,
Payments you receive as sick pay under the...
Insurance distributions,
If dividends on an insurance contract (other...
IRA distributions,
Report fully taxable distributions, including...
Personal exemption,
If you file Form 1040A, complete lines 6a...
Presidential Election Campaign Fund,
Presidential Election Campaign Fund
Railroad retirement benefits, reporting on,
Reporting on Form 1040A.
Reporting pay,
If you are an employee, you should receive...
Social security benefits, reporting on,
Reporting on Form 1040A.
Student loan interest deduction,
To claim the deduction, enter the allowable...
Tip income reporting,
Report your tips with your wages on Form...
Use of,
Form 1040A
,
How to file.
,
If you and your spouse each have income,...
,
Your filing status may be single if you were...
Workers' compensation,
If you return to work after qualifying for...
1040EZ,
Form 1040EZ Line Entries
Address,
Name and Address
Alaska Permanent Fund dividends,
Do not report these amounts as dividends....
FECA benefits,
Payments you receive as sick pay under the...
No attachments,
Form 1040EZ.
Personal exemption,
If you file Form 1040EZ, the exemption amount...
Presidential Election Campaign Fund,
Presidential Election Campaign Fund
Reporting pay,
If you are an employee, you should receive...
Tip income reporting,
Report your tips with your wages on Form...
Use of,
Form 1040EZ
,
If you and your spouse each have income,...
,
Your filing status may be single if you were...
Workers' compensation,
If you return to work after qualifying for...
1040NR:
Nonresident alien return,
Nonresident alien.
1040NR-EZ:
Nonresident alien easy return,
Nonresident alien.
1040X:
Amended individual return,
Form 1040X.
Annulled marriages,
If you obtain a court decree of annulment,...
Bad debts, claim for refund,
If you do not deduct a bad debt on your original...
Change of filing status,
You can change your filing status from a...
Child's return,
When you get the correct information, file...
Completing,
Completing Form 1040X.
Depreciation| Correcting amount of,
Claiming the correct amount of depreciation.
Filing,
Filing Form 1040X.
Itemized deduction, change to standard deduction,
Changing your mind.
Standard deduction, change to itemized deductions,
Changing your mind.
Worthless securities, claim for refund,
Filing a claim for refund.
1065:
Partnership income,
Schedule K-1 (Form 1065).
1096,
File Form 1099-B or Form 1099-S with the IRS.
1098:
More than one borrower (not spouse), reporting of mortgage interest deduction by attaching of,
More than one borrower.
Mortgage insurance premiums reported on,
Mortgage insurance premiums.
Mortgage interest overpaid in earlier year,
If you received a refund of interest you...
Mortgage interest statement,
Form 1098, Mortgage Interest Statement.
,
If you paid $600 or more of mortgage interest...
,
If you received a refund or credit in 2012...
Points reported on,
As a general rule, Form 1098 will include...
Prepaid interest reported on,
Prepaid interest on Form 1098.
Refund of interest reported on,
Refunded interest.
1098-C:
Contributions of Motor Vehicles, Boats, and Airplanes,
Form 1098-C.
1098-E,
To help you figure your student loan interest...
1099:
Taxable income report,
Form 1099.
,
If you are a U.S. citizen or resident alien,...
1099-B,
File Form 1099-B or Form 1099-S with the IRS.
Barter income,
Form 1099-B from barter exchange.
Broker to report sales of stocks, bonds, or commodities,
Sales and Trades
,
Form 1099-B transactions.
1099-C:
Cancellation of debt,
Form 1099-C.
1099-CAP:
Change in control or capital structure,
Form 1099-CAP transactions.
1099-DIV:
Dividend income statement,
Form 1099-DIV.
,
For information on how to treat dividends...
,
Form 1099-DIV.
Return of capital,
A nondividend distribution is a distribution...
1099-G:
State tax refunds,
State tax refund.
1099-INT,
Form 1099-INT.
,
Form 1099-INT.
1099-MISC:
Brokers receiving dividends,
Form 1099-MISC.
Nonemployee compensation,
Nonemployee compensation.
1099-OID,
Form 1099-OID.
1099-R,
You received the bond in a taxable distribution...
Early distributions of pension funds,
If you must pay either of these taxes, report...
,
Even if you do not owe any of these taxes,...
,
Certain early distributions are excepted...
,
If distribution code 1 is incorrectly shown...
IRA distributions,
Distributions reported on Form 1099-R.
,
Distribution code 1 (early distribution)...
Life insurance policy surrendered for cash,
You should receive a Form 1099-R showing...
Retirement plan distributions,
If you received a Form 1099-R, Distributions...
1099-S,
File Form 1099-B or Form 1099-S with the IRS.
Real estate transactions proceeds,
Form 1099-S.
,
Form 1099-S transactions.
1116:
Foreign tax credit,
How to take the credit.
1120S:
S corporation income,
Schedule K-1 (Form 1120S).
2106:
Business-related expenses,
If you are both self-employed and an employee,...
,
If you are an employee, you generally must...
,
You must complete Form 2106 or 2106-EZ and...
Performing artists,
If you meet all of the above requirements,...
Travel expenses,
However, if your actual expenses are more...
,
However, if your actual expenses are more...
Work-related education expenses,
Form 2106 or 2106-EZ.
2106-EZ:
Business-related expenses,
You must complete Form 2106 or 2106-EZ and...
Performing artists,
If you meet all of the above requirements,...
Work-related education expenses,
Form 2106 or 2106-EZ.
2119:
Postponement of gain from sale of home,
The records you should keep include:Proof...
2439:
Notice to shareholder on undistributed long-term capital gains,
Some mutual funds and REITs keep their long-term...
,
You must include in your income any amounts...
2441,
Form 1040 or 1040A.
2555,
If you (or your spouse, if married) were...
2555-EZ,
Rule 5. You Cannot File Form 2555 or Form 2555-EZ
2848:
Power of attorney and declaration of representative,
Power of attorney.
,
If your spouse cannot sign the joint return...
3115,
Instead of filing this statement, you can...
3800:
General business credit,
Carryback of certain business tax credits....
4029,
Approved Form 4361 or Form 4029
4070:
Reporting tips to employer,
If your employer does not give you any other...
4070A:
Daily record of tips,
If you keep a tip diary, you can use Form...
4137:
Social security and Medicare taxes on tips not reported to employer,
Use Form 4137 to figure these taxes. Enter...
4361,
If you are self-employed or received income...
4506,
If necessary, you can request a copy of a...
4506-T:
Tax return transcript request,
If you just need information from your return,...
4562:
Depreciation of rental property,
You can deduct depreciation only on the part...
4684:
Bank deposit, loss due to bank's insolvency or bankruptcy,
Casualty loss — report it on Form 4684 first...
Casualty or theft loss,
Use Form 4684 to report a gain or a deductible...
,
When you have a casualty or theft, you have...
4797:
Sales of business property,
How to report.
,
If you used the home for business or to produce...
Small business stock losses,
You can deduct as an ordinary loss, rather...
4868:
Automatic extension of time to file,
E-file options.
,
It usually takes about 2 weeks to get an...
Filing electronic form,
E-file using your personal computer or a tax professional.
Filing paper form,
Filing a paper Form 4868.
4952:
Investment interest expense deduction,
Form 4952
Net capital gain, election to include as investment income,
You make this choice by completing Form 4952,...
4972:
Lump-sum distributions,
Use Form 4972 to figure the separate tax...
5329:
Early distributions of sheltered funds,
If you must pay either of these taxes, report...
,
Certain early distributions are excepted...
,
If distribution code 1 is incorrectly shown...
Required minimum distributions, failure to take,
Form 5329.
,
Generally, you must use Form 5329 to report...
,
If you do not have to file a tax return but...
,
Form 5329 not required.
56:
Notice Concerning Fiduciary Relationship,
Court-appointed, conservator, or other fiduciary.
5695:
Residential Energy Credits,
Residential Energy Credits
6251,
More information.
Alternative minimum tax,
For more information on who is liable for...
6252:
Installment sale income,
Use Form 6252, Installment Sale Income, to...
8275:
Disclosure statement,
Disclosure statement.
8275-R:
Regulation disclosure statement,
In cases of substantial understatement only,...
8283:
Charitable noncash contribution of more than $500 value,
How To Report
8379:
Injured spouse claim,
If the injured spouse's residence was in...
8396:
Mortgage interest credit,
Mortgage interest credit.
,
Figure your 2012 credit and any carryforward...
,
Reduced home mortgage interest deduction.
843:
Claim for refund and request for abatement,
Use Form 843, Claim for Refund and Request...
8582:
Passive activity gains or losses,
You may have to complete Form 8582 to figure...
,
If you have gains or losses from a passive...
8606:
IRA contributions, Nondeductible,
To designate contributions as nondeductible,...
,
Form 8606.
,
Form 8606.
IRA contributions, Recharacterization of,
Reporting a recharacterization.
8615,
Part of a child's 2012 investment income...
Certain children with more than $1,900 of investment income,
Tax for Certain Children Who Have Investment Income of More Than $1,900
,
Figure 30-B. Do You Have To Use Form 8615 To Figure Your Child's Tax?
Net investment income,
Step 1. Figuring the Child's Net Investment Income (Form 8615, Part I)
Parental information,
Providing Parental Information (Form 8615, lines A–C)
,
Parent with different tax year.
,
Parent's return information not known timely.
Sample completed form,
John also completes Schedule B (Form 1040A...
8801:
Alternative minimum tax,
Figure your 2012 nonrefundable credit (if...
8814,
Some parents can choose to include the child's...
Additional tax, figuring of,
Figuring Additional Tax
Calculation of child's income,
Use Form 8814, Part I, to figure your child's...
Capital gains distributions,
Capital gain distributions and qualified dividends.
Parents' election to report child's interest and dividends,
Investment income includes the part of your...
,
Some parents can choose to include the child's...
Reduced deductions or credits,
Reduced deductions or credits.
Sample form,
8815,
Form 8815.
8818,
Recordkeeping. If you claim the interest...
8822:
Change of address,
If you have moved, file your return using...
8824:
Like-kind exchanges,
How to report.
8828:
Recapture of federal mortgage subsidy,
The recapture tax is figured on Form 8828....
8834:
Plug-in Electric Vehicle Credit,
8839:
Qualified adoption expenses,
Adoption benefits are reported by your employer...
,
How to take the credit.
8853:
Accelerated death benefits,
Form 8853.
Archer MSAs and long-term care insurance contracts,
Contributions by your employer to your Archer...
8857:
Innocent spouse relief,
You must file Form 8857, Request for Innocent...
8862,
If Improper Claim Made in Prior Year
8879:
Authorization for E-file provider to use self-selected PIN,
Many tax professionals electronically file...
8880:
Credit for Qualified Retirement Savings Contributions,
How to take the credit.
8885:
Health insurance credit,
How to take the credit.
8901:
Information on Qualifying Children Who Are Not Dependents,
For each qualifying child you must check...
8910:
Alternative motor vehicle credit,
How to take the credit.
8911:
Alternative fuel vehicle refueling property credit,
How to take the credit.
8912:
Credit to Holders of Tax Credit Bonds,
How to take the credit.
8936:
Plug-in electric drive motor vehicle credit,
8949:
Sales and other dispositions of capital assets,
Reporting Gains and Losses
9465:
Installment agreement request,
If you cannot pay the full amount due with...
982:
Reduction of tax attributes due to discharge of indebtedness (and section 1082 basis adjustment),
Any Form 982 you filed to report any discharge...
Form 8919:
Uncollected social security and Medicare tax on wages,
If you are an employee, you should receive...
Requiring Form 1040 to be used when filing,
You are a debtor in a bankruptcy case filed...
RRB-1042S:
Railroad retirement benefits for nonresident aliens,
What is not covered in this chapter.
RRB-1099:
Railroad retirement benefits,
Equivalent tier 1 railroad retirement benefits...
,
What is not covered in this chapter.
Schedule 8812:
Child tax credit,
If you have an additional child tax credit...
SS-5,
Getting an SSN.
Social security number request,
No SSN.
,
If a person for whom you expect to claim...
SSA-1042S:
Social security benefits for nonresident aliens,
What is not covered in this chapter.
SSA-1099:
Social security benefits,
Equivalent tier 1 railroad retirement benefits...
W-10,
You can use Form W-10 to request the required...
W-2:
Box 12 with code L,
Joe was reimbursed $300 ($75 × 4 days), which...
,
Enter on Form 2106, line 7, the amounts your...
,
There is no amount shown with a code L in...
Election precinct officials' fees,
You should receive a Form W-2 showing payments...
Employer retirement plan participation indicated,
The Form W-2 you receive from your employer...
Employer-reported income statement,
Form W-2.
,
Form W-2.
,
If you are a U.S. citizen or resident alien,...
,
If you are an employee, you should receive...
,
Include in income amounts you are awarded...
,
If you are a federal employee and receive...
,
In most cases, if you receive property for...
,
For information on how to treat dividends...
Fringe benefits,
Form W-2.
,
Contributions by your employer to provide...
,
Contributions by your employer to your Archer...
,
Adoption benefits are reported by your employer...
Reimbursements reported as part of income,
If your employer reimburses you for nondeductible...
,
If your employer included reimbursements...
,
If your employer's accountable plan pays...
,
Your employer will combine the amount of...
,
If you meet these conditions and your employer...
Statutory employees,
If you received a Form W-2 and the Statutory...
Uncollected taxes,
Uncollected taxes. You must report on your...
W-2G:
Gambling winnings withholding statement,
Form W-2G.
W-4P:
Rollover distributions, election not to have tax withheld,
If you receive an eligible rollover distribution,...
W-4V:
Voluntary withholding request,
Tax withholding.
W-7:
Individual taxpayer identification number request,
If your child was born and died in 2012,...
W-7A:
Adoption taxpayer identification number request,
File Form W-7A, Application for Taxpayer...
,
If your dependent is a resident or nonresident...
W-9:
TIN of home seller and purchaser,
Deduct home mortgage interest that was not...
Form 1040:
Estimated tax payments,
Take credit for all your estimated tax payments...
Foreign income taxes, deduction of,
Foreign income taxes.
Gambling winnings,
Form W-2G.
Overpayment offset against next year's tax,
Credit an Overpayment
Schedule A:
State and local income taxes, deduction of,
These taxes are deducted on Schedule A (Form...
State benefit funds, mandatory contributions to,
As an employee, you can deduct mandatory...
Taxes, deduction of,
All other deductible taxes are deducted on...
Schedule C:
Real estate or personal property taxes on property used in business, deduction of,
Real estate taxes and personal property taxes.
Schedule D:
Capital gains or losses,
Reporting Gains and Losses
Form 8949,
Reporting Gains and Losses
Schedule E:
Real estate or personal property taxes on rental property, deduction of,
Real estate taxes and personal property taxes.
Schedule F:
Real estate or personal property taxes on property used in business, deduction of,
Real estate taxes and personal property taxes.
Self-employment tax, deduction of,
The deductible part of your self-employment...
Form 1040, Schedule A,
You file Form 1040 and itemize deductions...
Form 1040, Schedule D:
Form 8949,
Reporting Gains and Losses
Reporting capital gains and losses,
Reporting Gains and Losses
Form 1040-ES:
Estimated tax,
To figure your estimated tax, you must figure...
,
If you did not pay estimated tax last year,...
Form 1040A:
Estimated tax payments,
Take credit for all your estimated tax payments...
Overpayment offset against next year's tax,
Credit an Overpayment
Form 1098:
Mortgage interest,
Hardest Hit Fund and Emergency Homeowners' Loan Programs.
Form 1099-MISC:
Withheld state and local taxes,
Withheld taxes.
Form 1099-R:
Withheld state and local taxes shown on,
Withheld taxes.
Form 1099-S:
Real estate transactions proceeds,
Form 1099-S.
Form 1116:
Foreign tax credit,
Foreign income taxes.
Form 8332:
Release of exemption to noncustodial parent,
Written declaration.
Form W-2:
Employer-reported income statement,
Withholding
Filing with return,
Forms W-2 and W-2G.
Separate form from each employer,
Form W-2
Withheld state and local taxes,
Withheld taxes.
Form W-2c:
Corrected wage and tax statement,
If you receive a form with incorrect information...
Form W-2G:
Gambling winnings withholding statement,
Form W-2G
,
Form W-2G.
Withheld state and local taxes shown on,
Withheld taxes.
Form W-4:
Employee withholding allowance certificate,
If you receive salaries or wages, you can...
,
Determining Amount of Tax Withheld Using Form W-4
,
New Form W-4.
Form W-4S:
Sick pay withholding request,
Form W-4S.
Form W-4V,
To make this choice, fill out Form W-4V (or...
Unemployment compensation, voluntary withholding request,
Unemployment Compensation
Form(s) 1099,
The 1099 Series
Forms,
Mailing your return.
See also:
Tax returns
Foster care:
Adoption as motive for, no charitable deduction,
You cared for a foster child because you...
Care providers' payments,
Foster care providers.
Charitable deduction for nonprofit care,
Foster parents.
Child tax credit,
Qualifying Child
Difficulty-of-care payments,
Difficulty-of-care payments.
Emergency foster care, maintaining space in home for,
Maintaining space in home.
Expenses unreimbursed and not deductible as charitable contributions,
You can deduct expenses that meet both of...
Foster care payments and expenses,
Foster care payments and expenses.
,
Foster care.
Foster child,
Foster child.
,
Foster care payments and expenses.
,
Foster child.
,
Foster care.
,
You are that person's son, daughter, stepchild,...
,
You are that person's son, daughter, stepchild,...
Earned income credit,
Foster child.
Foster Grandparent Program,
Foster Grandparent Program.
Found property,
Found property.
Fractional shares:
Payment for,
Fractional shares.
Fraternal societies:
Charitable contributions to,
Certain nonprofit cemetery companies or corporations....
Dues, no charitable deduction,
Dues to fraternal orders and similar groups....
Fraud:
Losses due to,
The taking of money or property through fraud...
Penalties,
Fraud.
,
Penalties
Reporting anonymously to IRS,
Treasury Inspector General for Tax Administration.
Free tax services,
Freight:
Basis to include,
Freight,
Fringe benefits:
Accident and health insurance,
Accident or Health Plan
Accounting period,
Accounting period.
Adoption, employer assistance,
Adoption Assistance
Archer MSA contributions,
Archer MSA contributions.
De minimis benefits,
De Minimis (Minimal) Benefits
Education assistance,
Educational Assistance
Form W-2,
Form W-2.
Group-term life insurance premiums,
Group-Term Life Insurance
Holiday gifts,
Holiday gifts.
Retirement planning services,
Retirement Planning Services
Taxable income,
Fringe Benefits
Transportation,
Transportation
Withholding,
Taxable Fringe Benefits
Frozen deposits:
Interest on,
Interest on frozen deposits.
IRA rollover period extension,
Extension of rollover period.
Full-time student:
Child and dependent care credit,
Full-time student.
Fund-raising events:
Charitable contributions, amount deductible,
At a fundraising auction conducted by a charity,...
Rental of dwelling unit used as a home,
The organization sells the use of the unit...
Funeral expenses,
Funeral expenses.
Funerals:
Clergy, payment for,
Clergy
Expenses,
Burial or funeral expenses, including the...
Contributions to cover, not deductible as charitable donations,
Contributions to fraternal societies made...
Future interests:
Definition of,
Tangible personal property.
,
Future interest.
Tangible personal property, charitable deduction for,
Future interests in tangible personal property.
G
Gains and losses,
Your income is only from:
,
Special Rules
,
Reporting Gains and Losses
Casualty,
Nonbusiness Casualty and Theft Losses
,
Casualty
See also:
Casualty losses
Claim for refund for loss,
Net operating loss carryback. (See Publication...
Collectibles,
Investment interest deducted.
Financial institution's bankruptcy causing deductible loss,
Loss on Deposits
Reporting of,
Loss on deposits.
Gambling,
See:
Gambling winnings and losses
Hobby losses,
Hobby losses.
Ordinary gain and loss,
Capital or Ordinary Gain or Loss
Bank deposit, loss due to bank's insolvency or bankruptcy,
Casualty loss or ordinary loss.
Ordinary loss,
Capital or Ordinary Gain or Loss
Passive activity,
Passive Activity Limits
,
Rental activity losses.
,
Passive activity gains and losses.
See also:
Passive activity
Related party sale or trade of depreciable property,
Gain on sale or trade of depreciable property.
Short-term,
This section discusses the tax treatment...
,
Short-term gains and losses.
Priority in deducting,
Use short-term losses first.
Sale or trade of property held 1 year or less,
Long-term or short-term.
Theft,
Nonbusiness Casualty and Theft Losses
,
Theft
See also:
Theft losses
Total net gain,
Total net gain or loss.
See also:
Capital gains
See also:
Capital losses
See also:
Capital gains or losses
Gambling winnings and losses,
Gambling winnings.
,
Gambling Losses Up to the Amount of Gambling Winnings
Withholding,
Form W-2G
,
Gambling Winnings
Garnishment and attachment,
Garnisheed wages.
Gas royalties,
Oil, gas, and minerals.
Gems:
As capital assets,
Gems and jewelry, and
IRA prohibited transactions in,
Gems,
General business credit,
General business credit, which is made up...
General Rule,
See:
Annuities
General Sales Taxes:
Actual expenses,
General Sales Taxes
Motor vehicles,
General Sales Taxes
Optional sales tax tables,
General Sales Taxes
GI Bill benefits,
Tuition payments and allowances under the GI Bill.
Gift taxes:
Not deductible,
Gift taxes.
Gifts:
$25 limit on business-related expenses,
$25 limit.
$4 or less for business-related expenses,
Is one of a number of identical items you...
Adjusted basis for,
Property Received as a Gift
Business-related expenses,
Gift Expenses
,
If you go with the customer to the event,...
Children, income from property given to,
Income from property received as a gift.
Disaster victims receiving cash gifts,
Cash gifts.
Holding period, determination of,
Property received as a gift.
Holiday gifts,
Holiday gifts.
Incidental costs of business-related expenses,
Incidental costs.
Not taxed,
Gifts and inheritances.
Proof of expenses (Table 26-2 summary),
You do not need to put confidential information...
Recordkeeping requirements,
Recordkeeping
Reporting of expenses,
Gifts.
Table 26-3 showing forms to be used,
Your employer sends you on a 5-day business...
Schedule A (Form 1040) for deduction,
If you did not receive any reimbursements...
To reduce the public debt,
Gift To Reduce Debt Held by the Public
Girl Scouts:
Charitable contributions to,
Most nonprofit educational organizations,...
Gold and silver:
As capital assets,
Gold, silver, or any other metal.
,
Gold, silver, stamps, coins, gems, etc.
Capital gains or losses from sale or trade of,
Investment interest deducted.
IRA investments in,
Your IRA can invest in one, one-half, one-quarter,...
Golden parachute payments:
Tax on,
Tax on golden parachute payments. This tax...
Golf clubs,
See:
Country clubs
Government employees:
Federal,
See:
Federal employees
State,
See:
State or local governments
Graduate school,
Qualified Education Expenses
See also:
Educational assistance
Grants,
See:
Scholarships and fellowships
Grants, disaster relief,
Do not include post-disaster grants received...
Gratuities,
See:
Tip income
Gross income:
Adjustments other than on Form 1040A, Form 1040 to be used,
Your Form W-2, box 12, shows uncollected...
Age, higher filing threshold after 65,
Age.
Defined,
Gross income.
Filing requirements (Table 1-1),
Filing Information
Dependent filing requirements (Table 1-2),
File only one federal income tax return for...
Rental income,
In most cases, you must include in your gross...
Gross income test,
Gross Income Test
Group-term life insurance:
Accidental death benefits,
Accidental death benefits.
Definition,
Group-term life insurance.
Exclusion from income,
Entire cost excluded.
Limitation on,
Group-Term Life Insurance
Permanent benefits,
Permanent benefits.
Taxable cost, calculation of,
Figuring the taxable cost.
Uncollected social security/Medicare taxes,
You received $20 or more in tips in any 1...
Reporting of (Table 1-3),
On Form 1040EZ, you can use only the tax...
Uncollected tax,
Uncollected social security and Medicare...
Guam:
Income from,
Individuals With Income From U.S. Possessions
H
H.R. 10 plans,
Distributions from a qualified plan are usually...
HAMP:
Home affordable modification:
Pay-for-performance,
Home Affordable Modification Program (HAMP).
Handicapped persons,
See:
Disabilities, persons with
Hardest Hit Fund Program,
Hardest Hit Fund and Emergency Homeowners' Loan Programs.
Hawaii:
Standard meal allowance,
The standard meal allowance rates above do...
Head of household,
Head of household or qualifying widow(er) with dependent child.
,
Head of Household
Health:
Flexible spending arrangement,
Health flexible spending arrangement (health FSA).
Health insurance,
Accident or Health Plan
See also:
Accident insurance
Reimbursement arrangement,
Health reimbursement arrangement (HRA).
Savings account,
Health savings accounts (HSA).
Health coverage tax credit,
You qualify for the refundable credit for...
,
Health Coverage Tax Credit
Health insurance:
Premiums:
Self-employed persons, deductible expenses,
Health Insurance Costs for Self-Employed Persons
Reimbursement,
Insurance Reimbursement
Health insurance premiums,
Medical insurance premiums.
Health Spa,
Health Spa Expenses
Hedging transactions,
Hedging transactions, but only if the transaction...
Help,
See:
Tax help
High income taxpayers:
Estimated tax,
Special rules for farmers, fishermen, and higher income taxpayers.
High-low rate method to compute per diem,
High-low rate.
Higher education,
See:
Colleges and universities
Hobbies,
Hobby Expenses
Activity not for profit,
Activity not for profit.
Losses,
Hobby losses.
Holding period:
Determination of,
Holding Period
Holding period, repossessed,
Real property repossessed.
Holiday gifts,
Holiday gifts.
Holiday, deadline falling on,
Saturday, Sunday, holiday rule.
Home,
Personal Use of Dwelling Unit (Including Vacation Home)
,
Dividing Expenses
,
Dwelling Unit Used as a Home
,
Examples.
,
Generally, home mortgage interest is any...
,
Refinancing.
Abandonment of,
Abandonment.
Acquisition debt,
Mortgages you took out after October 13,...
See also:
Mortgages
Aged, home for,
Home for the aged.
As capital asset,
A house owned and used by you and your family,
Basis,
See:
Sale of home
Business use of,
Home Office
Closing costs,
Settlement fees or closing costs.
Cost of keeping up,
Keeping Up a Home
Damage to,
Nonbusiness Casualty and Theft Losses
See also:
Casualty losses
Foreclosure,
Foreclosure or repossession.
Improvements:
Loans for,
Home improvement loan.
Jointly owned:
Mortgage payments as alimony,
Payments for jointly-owned home.
Separate residences in and alimony payments,
Spouses cannot be members of the same household.
Taxes and insurance premiums as alimony,
If you must pay all the real estate taxes...
Main home, defined,
Main Home
Office,
Home Office
Points,
Points on home mortgage.
Possession before final settlement, rent not deductible as interest,
Rental payments.
Repossession,
Foreclosure or repossession.
Security system,
Home Security System
Settlement fees,
Settlement fees or closing costs.
Tax home, determination for travel-related business expenses,
Tax Home
Tenants in common, taxes and insurance premiums as alimony,
Taxes and insurance.
See also:
Casualty losses
See also:
Vacation homes
See also:
Mortgages
See also:
Refinancing
Home equity loans:
Car purchased by,
If you use a home equity loan to purchase...
Interest deduction,
Generally, home mortgage interest is any...
,
Mortgages you took out after October 13,...
Proceeds invested in tax-exempt securities, interest not deductible,
Mortgage proceeds invested in tax-exempt securities.
Home improvement loans,
Home improvement loan.
Home office:
Capital gains exclusion,
Business Use or Rental of Home
Travel to another work location,
Office in the home.
Home schooling:
Expenses not deductible,
Qualified expenses do not include expenses...
Homeowners' associations:
Charges,
Homeowners' association charges.
Charitable contributions to,
Labor unions (but see chapter 28).
Homeworkers:
Deduction of expenses,
If you received a Form W-2 and the Statutory...
Hope credit:
Married filing separately,
Special Rules
Hospitals:
Charitable contributions to nonprofits,
Nonprofit hospitals and medical research...
Payments for services for specific patient, not deductible as charitable contributions,
Payments to a hospital that are for a specific...
Host or hostess,
Host or Hostess
Hotels:
Club dues:
Not entertainment expenses,
Hotel clubs, and
Not considered dwelling units,
A dwelling unit includes a house, apartment,...
Household employees,
Employment Taxes for Household Employers
Household furnishings:
Antiques,
See:
Collectibles
As capital assets,
Household furnishings,
Household items, charitable deduction for,
Clothing and household items.
Household members,
Head of household or qualifying widow(er) with dependent child.
Alimony payments, spouses cannot be members of same household,
Spouses cannot be members of the same household.
See also:
Head of household
Household services,
Expenses are for the care of a qualifying...
,
You placed a deposit with a preschool to...
Household workers,
See:
Domestic help
Household workers, no exemption for,
Housekeepers, maids, or servants.
Housing,
Personal Use of Dwelling Unit (Including Vacation Home)
,
Dividing Expenses
,
Dwelling Unit Used as a Home
,
Examples.
,
Keeping Up a Home
Alimony payments made to cover,
Payments to a third party.
Clergy,
If you are a member of a religious organization...
Cooperative,
See:
Cooperative housing
Rental property,
See:
Rental income and expenses
See also:
Vacation homes
See also:
Home
Hurricanes,
Disaster relief.
Casualty loss due to,
Storms, including hurricanes and tornadoes.
See also:
Disaster relief
I
Icons, use of,
Icons.
,
Table 1. Legend of Icons Icon Explanation...
Identification number, qualifying person,
Taxpayer identification number.
Identity theft,
Secure your tax records from identity theft.
,
Identity Theft
Illegal activities:
Reporting of,
Illegal activities.
Impairment,
See:
Disabilities, persons with
Impairment-related work expenses,
Impairment-Related Work Expenses
Improvements:
Real estate, adjustments to basis for,
Improvements.
Rental property,
See:
Rental income and expenses
Incidental expenses:
Business-related gifts,
Incidental costs.
Travel-related,
Incidental expenses.
Income,
Other Income
,
A reimbursement for medical care is generally...
,
Wages, Salaries, and Other Earnings
,
Alimony.
,
If you are a customer of an electric utility...
Bartering,
Bartering
Canceled debts,
Canceled Debts
Constructive receipt of,
Constructive receipt.
,
Payment to an agent.
,
Constructive receipt.
Excess reimbursement of medical expenses,
Excess reimbursement.
Gross,
Gross Income Test
Illegal activities,
Stolen property.
Interest,
Interest Income
Investment income,
Investment income defined.
Jury duty pay,
Jury duty pay you receive must be included...
Life insurance proceeds,
Life Insurance Proceeds
Nonemployee compensation,
Nonemployee compensation.
Paid to agent,
Payment to an agent.
Paid to third party,
Payment to third party.
Partnership,
Partnership Income
Prepaid,
Income paid in advance.
Recovery,
Recoveries
Rental,
See:
Rental income and expenses
Royalties,
Royalties
S corporation,
S Corporation Income
Tax exempt,
Tax-exempt income.
Taxable income in excess of $100,000,
You itemize your deductions on Schedule A.
Taxable income less than $100,000,
Your income is only from wages, salaries,...
,
Your taxable income is less than $100,000.
Tips,
See:
Tip income
Underreported,
You claimed deductions or credits you should...
See also:
Wages and salaries
See also:
Alimony
Income aid payment,
Repayment of Income Aid Payment
Income from nonqualified deferred compensation plans:
Additional tax on,
Additional tax on income you received from...
Income taxes:
Federal,
See:
Federal income tax
Foreign,
See:
Foreign income taxes
State or local,
See:
State or local income taxes
Income-producing expenses,
Other Expenses (Line 23)
Income-producing property:
Deduction of interest on loan for,
Income-producing rental or royalty interest.
Indefinite absence from job:
Work-related education during,
Education during indefinite absence.
Independent contractors:
Homeworkers, deduction of expenses,
If you received a Form W-2 and the Statutory...
Indians:
Fishing rights,
Indian fishing rights.
Taxes collected by tribal governments, deduction of,
Indian tribal government.
Individual retirement arrangements (IRAs),
Roth IRAs
,
For more detailed information on Roth IRAs,...
,
Rollovers
,
On Form 1040EZ, you can use only the tax...
,
Individual Retirement Arrangements (IRAs)
,
Generally, a rollover is a tax-free distribution...
Administrative fees,
Trustee's Administrative Fees for IRA
,
Trustees' fees.
,
Trustees' fees.
Age 59 for distribution,
Age 59
1
/
2
rule.
Exception to rule,
Exceptions.
Age 70:
Contributions cut off at,
Age 70
1
/
2
rule.
Distributions required at,
IRA owners.
,
You cannot keep amounts in your traditional...
Compensation, defined,
What is compensation?
Contribution limits,
How Much Can Be Contributed?
Age 50 or older,,
General limit.
Under age 50,,
General limit.
Contributions,
You do not claim any credits other than the...
,
Special Rules
,
Individual retirement arrangements (IRAs).
Designating year for which contribution is made,
Designating year for which contribution is made.
Excess,
Excess Contributions
Filing before contribution is made,
Filing before a contribution is made.
Nondeductible,
Nondeductible Contributions
Not required annually,
Contributions not required.
Roth IRA contribution for same year,
Roth IRAs and traditional IRAs.
Time of,
When Can Contributions Be Made?
Withdrawal before filing due date,
Contributions returned before the due date of return.
Cost basis,
Cost basis.
,
If you made nondeductible contributions or...
Deduction for,
IRA deduction.
,
How Much Can You Deduct?
Phaseout,
Deduction phaseout.
Definition of,
Traditional IRAs
Distributions:
At age 59,
Age 59
1
/
2
rule.
,
Exceptions.
Required minimum distributions,
See:
this heading: Required distributions
Divorced taxpayers,
Transfers Incident to Divorce
Early distributions,
See:
Early withdrawal from deferred interest account
Employer retirement plan participants,
Covered by an employer retirement plan.
,
Limit If Covered by Employer Plan
Establishing account,
Who Can Open a Traditional IRA?
Time of,
When and How Can a Traditional IRA Be Opened?
Where to open account,
You can open different kinds of IRAs with...
Excess contributions,
Excess Contributions
Forms to use:
Form 1099-R for reporting distributions,
Distributions reported on Form 1099-R.
Form 8606 for nondeductible contributions,
To designate contributions as nondeductible,...
Inherited IRAs,
Inherited pension or IRA.
,
Inherited IRAs
,
Inherited IRAs.
Required distributions,
Beneficiaries.
Interest on, treatment of,
IRA interest.
Married couples,
See:
this heading: Spousal IRAs
Modified adjusted gross income (MAGI):
Computation of,
Modified adjusted gross income (AGI).
Nondeductible contributions,
Nondeductible Contributions
Early withdrawal,
Nondeductible contributions.
Tax on earnings on,
Tax on earnings on nondeductible contributions.
Ordinary income, distributions as,
Ordinary income.
Penalties,
What Acts Result in Penalties or Additional Taxes?
Early distributions,
See:
Early withdrawal from deferred interest account
Excess contributions,
Excess Contributions
Form 8606 not filed for nondeductible contributions,
To designate contributions as nondeductible,...
,
Penalty for failure to file Form 8606.
Overstatement of nondeductible contributions,
Penalty for overstatement.
Prohibited transactions,
Effect on an IRA account.
Required distributions, failure to take,
You cannot keep funds in a traditional IRA...
,
You cannot keep amounts in your traditional...
Prohibited transactions,
Prohibited Transactions
Recharacterization of contribution,
Recharacterizations
Reporting of:
Distributions,
Report fully taxable distributions, including...
Recharacterization of contributions,
Reporting a recharacterization.
Required distributions,
Required distributions.
,
You cannot keep funds in a traditional IRA...
Excess accumulations,
You cannot keep amounts in your traditional...
Retirement savings contribution credit,
Special Rules
,
Retirement Savings Contributions Credit (Saver's Credit)
Self-employed persons,
Self-employment income.
Spousal IRAs,
IRA interest.
,
Spousal IRA limit.
,
Spousal IRA.
,
If your spouse is covered.
Taxability,
Distributions that are timely and properly...
Distributions,
Are Distributions Taxable?
Time of taxation,
Generally, amounts in your IRA, including...
Transfers permitted,
Can You Move Retirement Plan Assets?
To Roth IRAs,
Transfers to Roth IRAs.
,
Converting From Any Traditional IRA to a Roth IRA
Trustee administrative fees,
Trustee's Administrative Fees for IRA
Trustee-to-trustee transfers,
Trustee-to-Trustee Transfer
IRA to Roth IRA,
Trustee-to-trustee transfer. You can direct...
Types of,
Kinds of traditional IRAs.
Withdrawals,
When Can You Withdraw or Use IRA Assets?
,
How to treat withdrawn contributions.
Early,
See:
Early withdrawal from deferred interest account
Required,
See:
this heading: Required distributions
Withholding,
If you received a Form 1099-R, Distributions...
,
Pensions and Annuities
,
Withholding.
See also:
Roth IRAs
See also:
Rollovers
Individual Taxpayer Identification Number (ITIN),
Filers who have certain child dependents with an Individual Taxpayer Identification Number (ITIN).
Individual taxpayer identification numbers (ITINs),
Individual taxpayer identification number (ITIN).
,
If your child was born and died in 2012,...
Individual taxpayers,
See:
Single taxpayers
Information returns,
Form W-2.
,
Form 1099.
,
Form W-2.
,
If you are a U.S. citizen or resident alien,...
,
Include in income amounts you are awarded...
,
If you are a federal employee and receive...
,
For information on how to treat dividends...
Partnerships to provide,
Although a partnership generally pays no...
See also:
Form W-2
See also:
Form 1099
Inheritance,
An estate or trust, unlike a partnership,...
Adjusted basis for,
Inherited Property
Holding period, determination of,
Inherited property from someone who died in 2010.
IRAs,
See:
Individual retirement arrangements (IRAs)
Not taxed,
Gifts and inheritances.
See also:
Estate beneficiaries
Inheritance tax:
Deductibility of,
Estate, inheritance, legacy, or succession...
Deduction,
Estate, inheritance, legacy, or succession...
Injured spouse,
Joint return and injured spouse.
Claim for refund,
If the injured spouse's residence was in...
Inmate,
Any amount received for work while an inmate...
Innocent spouse relief:
Form 8857,
You must file Form 8857, Request for Innocent...
Joint returns,
Separation of liability, (available only...
Insider stock compensation from expatriated corporation:
Tax on,
Excise tax on insider stock compensation...
Insolvency:
Canceled debt not deemed to be income,
The debt is canceled when you are insolvent....
Financial institution's insolvency causing deductible loss,
Deposit in Insolvent or Bankrupt Financial Institution
Reporting of,
Loss on deposits.
Installment agreements,
Installment Agreement
Installment sales,
Installment sales, covered in Publication...
Capital gains and,
Installment sales.
Home sale,
Some sales are made under arrangements that...
Insurance:
Accident,
See:
Accident insurance
Alimony deduction for, when home owned as tenants in common,
Taxes and insurance.
Casualty or theft loss, reimbursement to adjust loss,
Insurance and Other Reimbursements
Distributions from, reporting of,
If dividends on an insurance contract (other...
Dividends:
Interest on,
Insurance policy dividends the insurer keeps...
Life,
Group-term life insurance.
,
A life insurance company under an endowment,...
See also:
Group-term life insurance
See also:
Life insurance
Living expenses paid by, possible income from,
Insurance payments for living expenses.
Reimbursements:
From casualty insurance,
Casualty insurance and other reimbursements.
State insurer delinquency proceedings preventing minimum pension distributions,
State insurer delinquency proceedings.
Trade of policies and annuities,
Insurance policies and annuities.
Insurance agents:
Deduction of expenses,
If you received a Form W-2 and the Statutory...
Insurance companies:
State delinquency proceedings, IRA distributions not made due to,
Exemption from tax.
Insurance premiums:
Alimony when spouse owns life insurance policy,
Life insurance premiums.
Casualty insurance,
Casualty insurance premiums.
Health insurance:
Self-employed persons, deductible,
Health Insurance Costs for Self-Employed Persons
Liability,
Business Liability Insurance
Life,
Funeral expenses. Funeral expenses
,
Life Insurance Premiums
Life insurance:
Alimony,
Life insurance premiums.
Medical,
Medical insurance premiums.
Paid in advance,
Prepaid insurance premiums.
Public safety officers,
Retired public safety officers.
Rental expenses, deduction of premiums paid in advance,
Insurance premiums paid in advance.
Insurance proceeds:
Dividends, interest on,
Interest on insurance dividends.
Installment payments,
Insurance
Life,
Insurance
Interest:
Fees to collect,
Fees to Collect Interest and Dividends
Frozen deposits,
Interest income on frozen deposits.
Usurious,
Usurious interest.
Interest income,
Interest Income
Children:
Gifts to children,
Income from property received as a gift.
Dividends as,
Dividends are distributions of money, stock,...
Form 1099-INT,
Form 1099.
Frozen deposits, from,
Interest on frozen deposits.
Property purchase financed without adequate stated interest, treatment of,
The amount you realize from a sale or trade...
Recovery of income, on,
Interest on recovery.
Reporting on Forms 1040, 1040A, or 1040EZ,
Your income is only from:
Form 1040EZ filing threshold,
You do not claim any adjustments to income,...
Savings bonds,
Interest on qualified savings bonds.
See also:
U.S. savings bonds
Securities, Form 1040 to be used,
You claim any adjustments to gross income...
Tax refunds, from,
Interest on erroneous refund.
Interest payments,
Form 1098, Mortgage Interest Statement.
,
Interest Expense
,
You rent out part of your home and borrow...
,
Mortgage interest refund.
Allocation of interest according to use of loan,
Allocation of Interest
Canceled debt including,
Interest included in canceled debt.
Car loans,
Interest on car loans.
Deductions:
Forms to use (Table 23-1),
If your home mortgage interest deduction...
,
Table 23-1. Where To Deduct Your Interest Expense
Not allowed,
Items You Cannot Deduct
Reporting of,
You must file Form 1040 to deduct any home...
Investment interest,
Investment Interest
Limit on deduction,
Generally, your deduction for investment...
Personal interest not deductible,
Personal interest (discussed later).
,
Personal Interest
Reporting of deductions,
You must file Form 1040 to deduct any home...
Student loan interest deduction,
Student Loan Interest Deduction
Student loans deduction,
You may be able to deduct interest you pay...
,
You do not claim any credits other than the...
,
Student loan interest deduction.
,
Special Rules
Unstated interest,
If you buy property on a time-payment plan...
,
The amount you realize from a sale or trade...
See also:
Mortgages
Interference with business operations:
Damages as income,
Interference with business operations.
Internal Revenue Service (IRS):
Fraud or misconduct of employee, reporting anonymously,
Treasury Inspector General for Tax Administration.
Mission of,
IRS mission.
International employment,
See:
Foreign employment
International organizations, employees of,
Employees of international organizations or foreign governments.
Internet:
Electronic filing over,
See:
E-file
Inventory, retail,
Property held mainly for sale to customers...
Investment income:
Children,
Tax on investment income of certain children.
,
Tax on investment income of certain children.
Investment property:
Rental property,
See:
Rental income and expenses
Investments:
Classes as travel expenses,
If the convention is for investment, political,...
Expenses,
Investment expenses.
Fees,
Investment Fees and Expenses
Property:
As capital asset,
Investment Property
Definition,
Property held for investment includes property...
Like-kind exchanges,
The property must not be held primarily for...
Seminars,
Investment-Related Seminars
Involuntary conversion,
Condemnations.
,
Government-ordered demolition or relocation...
Basis computation,
Involuntary Conversions
Basis for depreciation,
Basis for depreciation.
See also:
Condemnation of property
IRAs,
See:
Individual retirement arrangements (IRAs)
Itemized deductions:
Changing from standard to itemized deduction (or vice versa),
Changing your mind.
Choosing to itemize,
Who Should Itemize
,
When to itemize.
Form 1040 to be used,
Where to report.
,
You had income that cannot be reported on...
Married filing separately,
Married persons who filed separate returns.
,
Special Rules
One spouse has itemized,
Your filing status is married filing separately,...
Recovery,
Itemized Deduction Recoveries
Standard deduction to be compared with,
You should first figure your itemized deductions...
State tax, for,
Electing to itemize for state tax or other purposes.
Itinerant workers:
Deduction of expenses,
If you received a Form W-2 and the Statutory...
Tax home, determination of,
If you do not have a regular or a main place...
ITINs,
See:
Individual taxpayer identification numbers (ITINs)
J
Jewelry:
As capital assets,
Gems and jewelry, and
Job,
Car Expenses and Other Employee Business Expenses
Search:
Expenses,
Job Search Expenses
See also:
headings starting with "Employee" or "Employer"
Job search:
Deduction of expenses for Interviews,
Job interview expenses.
Joint accounts,
Joint accounts.
Dividends, reporting of,
Stock certificate in two or more names.
Joint return of parents:
Investment income of certain children,
Which Parent's Return To Use
Joint return test,
See:
Qualifying child
Joint returns:
Accounting period,
Accounting period.
After separate return,
Joint Return After Separate Returns
Carryover of capital loss,
Joint and separate returns.
Deceased spouse,
Spouse died.
Dependents on,
Joint return.
Divorced taxpayers,
Divorced persons.
,
Divorced taxpayer.
Estimated tax,
Married taxpayers.
Excess social security/railroad retirement tax withholding credit,
Joint return.
Extension for citizens outside U.S.,
Married taxpayers.
Filing status,
Married Filing Jointly
Form 1040EZ, use of,
You (and your spouse if married filing a...
Fraud penalty,
Joint return.
Guardian of spouse, signing as,
Signing as guardian of spouse.
Injured spouse,
Joint return and injured spouse.
Innocent spouse,
Separation of liability, (available only...
Nonresident or dual-status alien spouse,
Nonresident alien or dual-status alien.
Pensions or annuities,
Joint return.
Personal exemption,
Joint return.
Responsibility for,
Accounting period.
Separate return after joint,
Separate Returns After Joint Return
Signing,
Spouse unable to sign.
,
Signing a joint return.
Social security and railroad retirement benefits,
Joint return.
State and local income taxes, deduction of,
Joint federal return.
Judges, federal:
Employer retirement plan coverage,
Federal judges.
Jury duty pay,
Jury duty pay you receive must be included...
K
Keogh plans,
Retirement Plans, Pensions, and Annuities
,
Distributions from a qualified plan are usually...
See also:
Retirement plans
Kickbacks,
Kickbacks.
Kiddie tax,
See:
Children, subheading: Investment income of
Kidnapped children,
A kidnapped child is treated as living with...
Losses due to ransom,
Kidnapping for ransom.
Qualifying child,
Kidnapped child.
Qualifying relative,
Kidnapped child.
L
Labor unions:
Dues and fees,
Political organizations and candidates.
,
Union benefits and dues.
Sick pay withholding under union agreements,
Union agreements.
Strike and lockout benefits,
Strike and lockout benefits.
Trips from union hall to place of work,
Union members' trips from a union hall.
Unemployment compensation payments from,
Payments by a union.
Land,
Real Property
Depreciation not allowed for,
Land.
See also:
Real estate
Landlords,
See:
Rental income and expenses
Landscaping:
Cost of, when casualty or theft loss involved,
The damage or destruction of trees, shrubs,...
,
Landscaping.
Larceny:
Losses due to,
Larceny.
Late filing,
Refund on a late filed return.
Penalties,
Filing late.
,
Filing late.
,
Return over 60 days late.
Late payment:
Penalties on tax payments,
Paying tax late.
Public utility charges, not deductible,
Late payment charges by a public utility.
Laundry:
Business-related travel expense,
Table 26-1. Travel Expenses You Can Deduct This chart summarizes expenses you can deduct when you travel away from home for business purposes.
,
The term incidental expenses means fees and...
Lavish or extravagant expenses,
Lavish or extravagant expenses.
Law enforcement officers:
Life insurance proceeds when death in line of duty,
For this purpose, the term public safety...
Leased property:
Casualty or theft loss,
Leased property.
Leased vehicles:
Car expenses,
Leasing a car.
Leases,
See:
Rental income and expenses
Legal expenses,
Legal Expenses
,
Personal Legal Expenses
Liability insurance:
Reimbursements from,
Casualty insurance and other reimbursements.
License fees:
Deductibility of,
License fees. You cannot deduct license fees...
Nondeductibility of,
Fees and licenses, such as car licenses,...
Life insurance,
Accelerated Death Benefits
,
You received $20 or more in tips in any 1...
,
Group-term life insurance.
Alimony, premiums when spouse owns policy,
Life insurance premiums.
Demutualization of companies,
Demutualization of life insurance companies.
Form 1099-R for surrender of policy for cash,
You should receive a Form 1099-R showing...
Premiums,
Life Insurance Premiums
Proceeds,
Insurance
As income,
Life Insurance Proceeds
Public safety officers who died or were killed in line of duty, tax exclusion,
Public Safety Officer Killed in the Line of Duty
Surrender of policy for cash,
Surrender of policy for cash.
Withholding,
A life insurance company under an endowment,...
See also:
Accelerated death benefits
See also:
Group-term life insurance
Life insurance premiums,
Life insurance premiums.
Lifetime learning credit:
Married filing separately,
Special Rules
Tuition deduction and,
You or anyone else claims an American opportunity...
Like-kind exchanges,
Like-kind exchanges.
Basis for depreciation,
Basis for depreciation.
Qualifications,
Like-Kind Exchanges
Sale of home,
Sale of home acquired in a like-kind exchange.
Limit on credit,
Limit on credit.
Limits:
Deductibility of mortgage insurance premiums,
Limit on deduction.
Miscellaneous deductions,
Deductions Subject to the 2% Limit
Rental losses,
Limits on Rental Losses
Line of credit for home:
Interest,
Generally, home mortgage interest is any...
Liquidating distributions,
Liquidating distributions, sometimes called...
Living expenses:
Insurance paying, possible income from,
Insurance payments for living expenses.
Loans,
Student Loan Interest Deduction
,
You may be able to deduct interest you pay...
,
You do not claim any credits other than the...
,
Bad debt. (See Nonbusiness Bad Debts in chapter...
Fees for, not deductible,
Loan fees.
Home improvement loans,
Home improvement loan.
Home mortgages,
See:
Mortgages
Origination fees,
See:
Points
Retirement plans, from,
Loans.
See also:
Student loans
See also:
Debts
Lobbying:
Contributions for, not charitable deductions,
Contributions for lobbying. This includes...
Lobbying expenses,
Lobbying Expenses
Local assessments:
Adjusted basis for,
Assessments for local improvements.
Deductibility of,
Taxes for local benefits.
Rental property, deductions for,
Local benefit taxes.
Local government employees:
Section 457 plans for employees,
See:
Section 457 deferred compensation plans
Local income taxes, itemized deductions,
Electing to itemize for state tax or other purposes.
Local law violated,
Local law violated.
Lockout benefits,
Strike and lockout benefits.
Lodging,
See:
Meal and lodging expenses
Long-term care insurance contracts,
Long-Term Care Insurance Contracts
Chronically ill individual,
If the insured is a chronically ill individual...
,
Chronically ill individual.
Exclusion, limit of,
Limit on exclusion.
Qualified services defined,
Qualified long-term care services.
Long-term debt instruments,
Long-term debt instruments issued after 1954 and before May 28, 1969 (or before July 2, 1982, if a government instrument).
Long-term gains and losses,
See:
Capital gains or losses
Losses,
Passive Activity Limits
,
Net operating loss carryback. (See Publication...
,
Rental activity losses.
Capital,
See:
Capital gains or losses
Casualty,
Nonbusiness Casualty and Theft Losses
,
Casualty
,
Casualty and Theft Losses
,
Casualty and Theft Losses of Income-Producing Property
See also:
Casualty losses
Gambling,
See:
Gambling winnings and losses
Records of,
It is important that you have records that...
Theft,
Nonbusiness Casualty and Theft Losses
,
Theft
,
Casualty and Theft Losses
,
Casualty and Theft Losses of Income-Producing Property
See also:
Theft losses
See also:
Passive activity
See also:
Gains and losses
Lost property,
Lost or Mislaid Cash or Property
When deemed casualty loss,
Mislaid or lost property.
Lotteries and raffles,
Gambling winnings.
,
Lotteries and raffles.
No charitable deduction for tickets,
Costs of raffles, bingo, lottery, etc. You...
See also:
Gambling winnings and losses
Lump-sum distributions,
Lump-Sum Distributions
10-year tax option,
10-Year Tax Option
Capital gain treatment,
Capital Gain Treatment
Cost calculation,
Cost.
Election of,
Electing optional lump-sum treatment.
Form 4972,
Use Form 4972 to figure the separate tax...
Net unrealized appreciation (NUA),
The taxable part of a lump-sum distribution...
,
Net unrealized appreciation (NUA).
Rollovers of,
Roll over all or part of the distribution....
Taxable and tax-free parts,
Taxable and tax-free parts of the distribution.
Luxury travel:
Travel expenses when incidental business activities,
A trip to a resort or on a cruise ship may...
Work-related education, deduction of expenses,
Cruises and conventions.
M
M&IE (Meals and incidental expenses),
How To Prove Expenses
,
The high-low rate.
,
Table 26-1. Travel Expenses You Can Deduct This chart summarizes expenses you can deduct when you travel away from home for business purposes.
,
Meals and Incidental Expenses
,
The standard meal allowance.
,
Incidental expenses.
See also:
Meal and lodging expenses
See also:
Incidental expenses
Machinery,
Hauling tools or instruments.
Rental for rental property,
Rental of equipment.
See also:
Tools
Mailing returns,
See:
Tax returns
Maintenance of rental property,
See:
Rental income and expenses
Mandatory retirement age,
Any payment you receive from a plan that...
Market discount bonds,
Market discount bonds.
Married child,
Married child.
Married dependents, filing joint return,
Joint Return Test
,
Joint Return Test (To Be a Qualifying Child)
Married filing a joint return,
Rule 4. You Must Be a U.S. Citizen or Resident Alien All Year
Married filing separately,
Married Filing Separately
,
Rule 3. Your Filing Status Cannot Be Married Filing Separately
Carryover of capital loss,
Joint and separate returns.
Community property states,
Community property states.
Credits, treatment of,
Special Rules
Deductions:
Changing method from or to itemized deductions,
Married persons who filed separate returns.
Treatment of,
Special Rules
Earned income credit,
Special Rules
How to file,
How to file.
Itemized deductions,
Married persons who filed separate returns.
,
Special Rules
One spouse has itemized so other must as well,
Your filing status is married filing separately,...
Joint state and local income taxes filed, but separate federal returns,
Joint state and local returns.
Medical and dental expenses,
Separate returns.
Rollovers,
Special Rules
Social security and railroad retirement benefits,
Benefits not taxable.
State and local income taxes,
Separate federal returns.
Student loan interest deduction and,
Your filing status is any filing status except...
Tenants by the entirety, allocation of real estate taxes,
Tenants by the entirety.
Tuition deduction and,
You cannot claim the tuition and fees deduction...
Married taxpayers,
Joint return.
,
Married Filing Separately
,
Married Filing Jointly
,
Accounting period.
,
Considered Unmarried
,
Stock certificate in two or more names.
Age 65 or older spouse:
Standard deduction,
Spouse 65 or Older or Blind
Blind spouse:
Standard deduction,
Spouse 65 or Older or Blind
Child and dependent care credit,
Joint Return Test
Deceased spouse,
Filing Information
,
Surviving Spouses, Executors, Administrators, and Legal Representatives
,
Spouse died.
,
Head of household or qualifying widow(er) with dependent child.
,
Spouse died during the year.
See also:
Surviving spouse
Definition of spouse for purposes of alimony,
Spouse or former spouse.
Dual-status alien spouse,
Nonresident alien or dual-status alien.
Educator expenses,
Educator Expenses
Estimated tax,
Married taxpayers.
,
2012 separate returns and 2013 joint return.
Filing status,
Filing Information
,
Filing status.
,
Married persons.
Form 1040EZ, use of,
You (and your spouse if married filing a...
IRAs,
Spousal IRA limit.
,
Spousal IRA.
Spouse covered by employer plan,
The general limit (or the spousal IRA limit,...
,
If your spouse is covered.
Living apart,
Married persons living apart.
Medical and dental expenses,
Separate returns.
Deceased spouse's expenses,
What if you pay medical expenses of a deceased spouse or dependent?
Nonresident alien spouse,
Nonresident alien spouse.
,
Nonresident alien or dual-status alien.
Performing artists,
Special rules for married persons.
Roth IRAs,
Can you contribute to a Roth IRA for your spouse?
Signatures when spouse unable to sign,
Spouse unable to sign.
Social security or railroad retirement benefits, taxability,
If you are married and file a joint return...
Transfer of home to spouse,
Transfer to spouse.
Transfers between spouses,
Property Transferred From a Spouse
,
Transfers Between Spouses
Travel expenses for spouse,
Travel expenses for another individual.
See also:
Joint returns
See also:
Married filing separately
See also:
Tenants by the entirety
See also:
Spouse
Mass transit passes, employer-provided,
Transit pass.
MCC (Mortgage credit certificate),
You may be eligible for the credit if you...
Meal and lodging expenses,
Certain merchant mariners who are under Coast...
50% deduction for business-related meals,
50% limit on meals.
,
50% limit may apply.
,
50% Limit
Figure 26-A summary of rules,
Entertainment expenses: 50% limit
Work-related education,
50% limit on meals.
Business-related entertainment including,
The meal is business-related entertainment.
,
A meal as a form of entertainment.
Business-related travel expense including,
Table 26-1. Travel Expenses You Can Deduct This chart summarizes expenses you can deduct when you travel away from home for business purposes.
,
Meals and Incidental Expenses
Form 2106 or 2106-EZ, how to fill out,
Meal and entertainment expenses.
,
Certain meal and entertainment expenses are...
Lodging,
Table 26-1. Travel Expenses You Can Deduct This chart summarizes expenses you can deduct when you travel away from home for business purposes.
,
There is no optional standard lodging amount...
Proof of expenses,
How To Prove Expenses
Table 26-2 summary,
You do not need to put confidential information...
Recordkeeping requirements,
Recordkeeping
,
Actual cost.
Reporting of,
How To Report
Table 26-3 showing forms to be used,
Your employer sends you on a 5-day business...
Restaurant receipts,
A restaurant receipt is enough to prove an...
Standard meal allowance,
The high-low rate.
,
The standard meal allowance.
,
The standard meal allowance.
,
Standard meal allowance.
,
Who can use the standard meal allowance.
Amount of,
Amount of standard meal allowance.
Areas outside continental U.S.,
Standard meal allowance for areas outside the continental United States.
Prorating on partial days of travel,
Prorating the standard meal allowance on partial days of travel.
Taking turns paying for meals or entertainment,
Taking turns paying for meals or entertainment.
Transportation workers,
Special rate for transportation workers.
Deduction limits,
Individuals subject to hours of service limits.
Medical and dental expenses,
You take this deduction on Form 1040, line...
,
Medical and Dental Expenses
Adjusted gross income and limit of deduction,
How Much of the Expenses Can You Deduct?
Adopted child,
A qualifying child is a child who:Is your...
Alimony payments made to cover,
Payments to a third party.
Contributions to cover, not deductible as charitable donations,
Contributions to fraternal societies made...
Damages including,
Damages for Personal Injuries
Decedent's expenses,
Decedent
Deduction,
How Much of the Expenses Can You Deduct?
Checklist for deductible expenses (Table 21-1),
If you are not covered under social security...
Dependent's expenses,
Dependent
Determination of date paid,
What Expenses Can You Include This Year?
Doctor,
What Are Medical Expenses?
Form 1040, Schedule A, for reporting,
What Tax Form Do You Use?
Future expenses, settlement including,
Future medical expenses.
Health insurance credit,
Health Coverage Tax Credit
Included expenses:
Individuals covered,
Whose Medical Expenses Can You Include?
Meals and lodging related to receiving medical care,
You can use the standard meal allowance to...
,
Meals and Lodging
Medical care, defined,
What Are Medical Expenses?
Physician,
What Are Medical Expenses?
Purpose of expenses,
What Are Medical Expenses?
Reimbursements, treatment of,
How Do You Treat Reimbursements?
,
Reimbursement for medical care.
Work-related,
Medical expenses.
Medical insurance,
See:
Accident insurance
Medical insurance premiums,
Medical insurance premiums.
Medical research organizations:
Charitable contributions to,
Nonprofit hospitals and medical research...
Medical savings accounts (MSAs),
Archer MSA contributions.
Medicare Advantage MSA,
In most cases, you do not include in income...
Medical expenses paid for decedent from,
Qualified medical expenses paid before death...
See also:
Archer MSAs
Medical Savings Accounts (MSAs):
Additional tax on,
Additional tax on HSAs or MSAs. If amounts...
Medicare,
You received $20 or more in tips in any 1...
,
Social security and Medicare taxes paid by employer.
,
Social security and Medicare taxes.
Benefits,
Medicare.
Medicare A, when deductible as medical expense,
Medicare A.
Medicare Advantage MSA,
See:
Medical savings accounts (MSAs)
Medicare B, when deductible as medical expense,
Medicare B.
Medicare D, when deductible as medical expense,
Medicare D.
See also:
Social security and Medicare taxes
Medicare tax,
Uncollected social security and Medicare...
Medicare taxes, not support,
Social security and Medicare taxes paid by...
Member of household or relationship test,
Member of Household or Relationship Test
Members of the uniformed services or Foreign Service,
Members of the uniformed services or Foreign Service, employees of the intelligence community, or employees or volunteers of the Peace Corps.
Membership fees,
See:
specific type of organization
Mentally incompetent persons,
Disability pensions.
,
Disability payments for injuries incurred...
,
The credit for the elderly or the disabled....
,
If you retired on disability, you must include...
Signing of return by court-appointed representative,
Court-appointed, conservator, or other fiduciary.
See also:
Disabilities, persons with
See also:
Elderly or disabled, credit for
Metals, precious,
See:
Gold and silver
Mexico:
Resident of,
Citizen or Resident Test
,
Child in Canada or Mexico.
Mileage deduction for work-related education,
Standard mileage rate.
Mileage rates,
See:
Standard mileage rates
,
Standard medical mileage rates
Military,
See:
Armed forces
Military personnel:
Earned income credit,
Your home can be any location where you regularly...
Mineral royalties,
Oil, gas, and minerals.
Ministers,
See:
Clergy
Miscellaneous deductions,
Miscellaneous Deductions
Federal employees buying back sick leave,
You can deduct the amount you spend to buy...
Outplacement agency fees,
However, you can deduct the value of these...
Missing children:
Photographs of, included in IRS publications,
Photographs of missing children.
Mistakes,
See:
Errors
Modified adjusted gross income (MAGI),
Education- Related Adjustments
Child tax credit limits,
Modified AGI.
Roth IRAs, computation for,
Modified AGI.
Phaseout (Table 17-3),
You do not report Roth IRA contributions...
Worksheet 17-2,
More information.
See also:
Deductions
Money market certificates,
Certificates of deposit and other deferred interest accounts.
Money market funds,
Money Market Funds
More information,
See:
Tax help
Mortgage:
Relief,
Mortgage relief upon sale or other disposition.
Mortgage credit certificate (MCC),
You may be eligible for the credit if you...
Mortgage insurance premiums:
Basis in property not to include,
Charges connected with getting a loan, such...
Mortgage Insurance Premiums:
Definition,
Mortgage Insurance Premiums
Form 1098 reporting,
Mortgage insurance premiums.
Schedule A (Form 1040) to deduct,
Home mortgage interest and points.
Mortgage interest:
Home mortgage interest,
Hardest Hit Fund and Emergency Homeowners' Loan Programs.
Mortgage interest credit,
Mortgage Interest Credit
Carryforward,
Carryforward.
Form 8396,
Mortgage interest credit.
How to take,
How to take the credit.
Recapture,
Recapture of federal mortgage subsidy.
Reduced deduction,
Reduced home mortgage interest deduction.
Mortgages,
The term points is used to describe certain...
Alimony, payments as,
Mortgage payments.
Assistance payments,
Mortgage assistance payments under section 235 of the National Housing Act.
Assistance payments (under sec. 235 of National Housing Act),
Mortgage assistance payments under section 235 of the National Housing Act.
Assumption of,
Assumption of mortgage.
Fees not included in basis,
Charges connected with getting a loan, such...
Credit certificate (MCC) from state or local government,
Mortgage interest credit.
Discounted mortgage loan,
Discounted mortgage loan.
Ending early, treatment of points,
Mortgage ending early.
Federally subsidized mortgage, recapture of tax paid on home purchased with,
Recapture of federal mortgage subsidy.
Interest:
Definition,
Generally, home mortgage interest is any...
Form 1098 (interest statement),
Form 1098, Mortgage Interest Statement.
,
If you paid $600 or more of mortgage interest...
Refund of,
Mortgage interest refund.
Interest credit,
See:
Mortgage interest credit
Interest deduction:
Sale of home,
Sale of home.
Schedule A (Form 1040) to deduct,
Home mortgage interest and points.
Late payment charges, deduction of,
Late payment charge on mortgage payment.
Lender's charges for services,
Amounts charged for services.
More than one borrower (not spouse), reporting of interest deduction,
More than one borrower.
Preparation costs for notes or deeds of trust,
Preparation costs for the mortgage note or...
Prepayment:
Allocation of deduction,
Prepaid interest.
Penalty for, deduction of,
Mortgage prepayment penalty.
Points,
General Rule
Reported on Form 1098,
Prepaid interest on Form 1098.
Proceeds used for business or investment, deduction of,
If your home mortgage interest deduction...
Refinancing,
Refinancing.
Refund of interest:
Reported on Form 1098,
Refunded interest.
Treatment of,
Refunds of interest.
Reverse,
Reverse mortgages.
Seller-financed,
Seller-financed mortgage.
See also:
Points
Mosques,
See:
Churches, temples, etc.
Motels,
See:
Hotels
Moth damage:
Not casualty losses,
Termite or moth damage.
Motor vehicles, donations of,
The following rules apply to any donation...
MSAs,
See:
Medical savings accounts (MSAs)
Multiple support agreement,
Multiple Support Agreement
Municipal bonds,
State or Local Government Obligations
Museums:
Charitable contributions to,
Most nonprofit educational organizations,...
Musicians and entertainers,
Examples of workers who may be able to deduct...
Mutual funds:
Adjusted basis of shares,
Mutual fund shares.
Allocated expenses,
Publicly offered mutual funds.
Capital gains,
Capital gain distributions (also called capital...
Dividends from,
Capital gain distributions (also called capital...
Exempt-interest dividends,
Other Distributions
Nonpublicly offered,
Nonpublicly offered mutual funds.
Publicly offered,
Publicly offered mutual funds.
Undistributed capital gains,
Undistributed long-term capital gains from...
Credit for tax on,
Credit for Tax on Undistributed Capital Gain
N
Name change,
Name change.
,
Name changed.
National Housing Act:
Mortgage assistance,
Mortgage assistance payments under section 235 of the National Housing Act.
,
Mortgage assistance payments under section 235 of the National Housing Act.
National of the United States,
U.S. national.
Native Americans,
See:
Indians
Negligence penalties,
Negligence or disregard.
Net investment income,
Generally, your deduction for investment...
Net operating losses:
Casualty or theft losses,
Net operating loss (NOL).
Refund of carryback,
Net operating loss carryback. (See Publication...
New Jersey Nonoccupational Disability Benefit Fund,
New Jersey Nonoccupational Disability Benefit...
New Jersey Unemployment Compensation Fund,
New Jersey Unemployment Compensation Fund.
New job, trade, or business:
Employment agency fees,
You can deduct certain expenses you have...
Job search expenses,
Job Search Expenses
Travel expenses,
Travel and transportation expenses.
Work-related education expenses,
Education That Qualifies You for a New Trade or Business
New York Nonoccupational Disability Benefit Fund,
New York Nonoccupational Disability Benefit...
Nightclubs:
Cover charges, 50% limit on deduction,
Cover charges for admission to a nightclub,
Nobel Prize,
Pulitzer, Nobel, and similar prizes.
Nominees,
Nominees.
,
Nominee.
Dividends that belong to someone else,
Nominees.
Nonaccountable plans for employee reimbursements,
Your employer is a corporation in which you...
,
Nonaccountable Plans
Noncapital assets,
Any property you own is a capital asset,...
Nonemployee compensation,
Nonemployee compensation.
Nonrefundable credits,
Nonrefundable Credits
Nonresident alien,
Rule 4. You Must Be a U.S. Citizen or Resident Alien All Year
,
Income of nonresident aliens that is not...
Nonresident aliens,
Nonresident alien.
Due dates,
Nonresident alien.
Estimated tax,
Aliens.
Form 1040EZ, use of,
You (and your spouse if married filing a...
Individual taxpayer identification number (ITIN),
Nonresident alien spouse.
Spouse,
Nonresident alien spouse.
Joint returns not available,
Nonresident alien or dual-status alien.
Separated,
Nonresident alien spouse.
Transfers between spouses when one spouse is nonresident alien,
Transfers Between Spouses
Standard deduction,
You are a nonresident or dual-status alien...
Taxpayer identification number,
If your dependent is a resident or nonresident...
Tuition deduction and,
You (or your spouse) were a nonresident alien...
Waiver of alien status,
Waiver of alien status.
Nontaxable payments:
Credit for the elderly or the disabled,
Worksheets are provided in the instructions...
Nontaxable trades,
See:
Tax-free exchanges
Northern Mariana Islands:
Income from,
Individuals With Income From U.S. Possessions
Not-for-profit activities,
Activity not for profit.
Notary fees,
Notary public.
Not deductible as interest,
Notary fees, and
Notes:
As obligations of individuals,
Notes of individuals.
Discounted,
If your employer gives you a secured note...
,
Original Issue Discount (OID)
Received for services,
Note received for services.
Nursery schools,
See:
Child and dependent care credit
Nursing homes:
Insurance for care in,
See:
Long-term care insurance contracts
Meals and lodging, deductible as medical expense,
Nursing home.
Nutrition Program for the Elderly,
Nutrition Program for the Elderly.
O
OASDI,
Old-age, survivors, and disability insurance benefits (OASDI).
Occupational taxes,
Occupational Taxes
Office rent, deductibility of,
Clerical Help and Office Rent
Office, use of home as,
Home Office
Offset against debts,
You can have a refund check mailed to you,...
,
Offset against debts.
Oil, gas, and minerals:
Future production sold,
Part of future production sold.
Royalties from,
Oil, gas, and minerals.
Schedule C or C-EZ,
Royalties from copyrights, patents, and oil,...
Sale of property interest,
Sale of property interest.
Older taxpayers:
Credit for the elderly,
Credit for the Elderly or the Disabled
Online help:
EITC Assistant,
Online help.
Options,
Stock Options
,
Distributions by a corporation of its own...
Charitable contributions, date of,
Option.
Ordinary dividends,
See:
Dividends
Ordinary gain,
Capital or Ordinary Gain or Loss
Ordinary gain and loss,
See:
Gains and losses
Original issue discount (OID),
Original Issue Discount (OID)
Adjusted basis and,
Original issue discount (OID) on debt instruments.
Discounted debt instruments,
Tax-exempt state and local government bonds.
Origination fees,
See:
Points
Other taxes,
Other taxes.
Out of work,
The fact that you have not worked for some...
Outplacement services,
Outplacement services.
Deduction of agency fees,
However, you can deduct the value of these...
Overpayment of tax,
Refunds
See also:
Tax refunds
Overseas work,
See:
Foreign employment
Overtime pay,
Supplemental Wages
P
Paper vs. electronic return,
See:
E-file
Paperwork Reduction Act of 1980,
Privacy Act and paperwork reduction information.
Parental responsibility,
See:
Children
Parents who never married,
Parents who never married.
Parents, divorced or separated,
Children of divorced or separated parents (or parents who live apart).
,
Special rule for divorced or separated parents (or parents who live apart).
Divorced parents,
Applying Rule 9 to divorced or separated parents (or parents who live apart).
Parking fees:
Business-related travel,
Parking fees and tolls.
Commuting expense,
Parking fees.
Employer-provided fringe benefit:
Exclusion from income,
Qualified bicycle commuting reimbursement.
Medical-related travel,
You can also include parking fees and tolls....
Sports arena, business-related entertainment subject to 50% limit,
Amounts paid for parking at a sports arena.
Parks and recreation facilities:
Charitable contributions to,
Nonprofit organizations that develop and...
Parochial school tuition:
No charitable deduction,
Tuition, or amounts you pay instead of tuition....
Partners and partnerships,
Indirect Deductions of Pass-Through Entities
Capital gains or losses from,
Your share of long-term capital gains or...
Income,
Partnership Income
Investment interest,
Partners, shareholders, and beneficiaries.
Related party transactions,
A partnership in which you directly or indirectly...
,
Two partnerships if the same persons own,...
Pass-through entities,
Indirect Deductions of Pass-Through Entities
Passive activity,
Dispositions of an interest in a passive...
Losses,
Losses from passive activities.
,
Rental activity losses.
Exception for real estate professionals,
Real estate professionals.
Investment interest and,
Investment interest does not include any...
Rental property,
Passive Activity Limits
,
Limits on passive activity deductions and credits.
Reporting of gains or losses,
Passive activity gains and losses.
Patents:
Infringement damages,
Breach of contract, or
Royalties,
Copyrights and patents.
Patronage dividends,
Patronage dividends.
Payment of estimated tax:
By check or money order,
Send in your payment (check or money order)...
Credit an overpayment,
How To Pay Estimated Tax
,
Send in your payment (check or money order)...
Payment of tax,
Payment of taxes.
,
Pay by Check or Money Order Using the Estimated Tax Payment Voucher
By check or money order,
You can pay your taxes online or by phone....
By credit card,
You can pay your taxes online or by phone....
By credit or debit card,
E-file and pay by credit or debit card or by using the Electronic Federal Tax Payment System (EFTPS).
Delivery services,
Private delivery services.
Estimated tax,
Estimated tax payments.
Installment agreements,
See:
Installment agreements
Late payment penalties,
Paying tax late.
Payments,
Payments.
,
Payments.
,
Payments.
,
Payments.
Disaster relief,
Disaster relief payments.
Payroll deductions,
Payroll deductions.
,
Payroll deductions.
,
Employment taxes. This includes social security,...
Payroll taxes,
Social security and Medicare taxes paid by employer.
See also:
Social security and Medicare taxes
Peace Corps allowances,
Peace Corps.
Pell grants:
Tuition deduction, effect on,
Pell grants (see chapter 1 of Publication...
Penalties:
Accuracy-related,
Accuracy-related penalty.
Alimony deduction, failure to provide social security number (SSN) or individual taxpayer identification number (ITIN) of recipient,
You must give the person who paid the alimony...
Backup withholding,
Penalties.
Civil penalties,
Civil Penalties
Criminal,
Criminal Penalties
Deductibility,
Penalties.
,
Fines or Penalties
Defenses,
Adequate disclosure.
Estimated tax,
See:
this heading: Underpayment of estimated tax
Failure to include social security number,
Penalty for not providing social security number.
,
Failure to supply SSN.
Failure to pay tax,
Paying tax late.
Failure to provide social security number (SSN) or individual taxpayer identification number (ITIN):
Alimony deduction,
You must provide your spouse's SSN or ITIN....
Failure to provide social security number or TIN:
Home seller and purchaser,
Deduct home mortgage interest that was not...
To dividend payers,
You must give your name and SSN (or individual...
Form 8606 not filed for nondeductible IRA contributions,
To designate contributions as nondeductible,...
,
Penalty for failure to file Form 8606.
Fraud,
Fraud.
,
Fraud.
,
Preparing and filing a fraudulent return,...
Frivolous tax submission,
Frivolous tax submission.
Interest on,
Interest on penalties.
IRAs,
What Acts Result in Penalties or Additional Taxes?
Early distributions,
Early Distributions
Excess contributions,
Excess Contributions
Form 8606 not filed for nondeductible contributions,
To designate contributions as nondeductible,...
,
Penalty for failure to file Form 8606.
Overstatement of nondeductible contributions,
Penalty for overstatement.
Required distributions, failure to take,
You cannot keep funds in a traditional IRA...
Late filing,
Filing late.
,
Filing late.
,
Return over 60 days late.
Exception,
Exception.
Late payment,
Paying tax late.
Negligence,
Negligence or disregard.
Reportable transaction understatements,
Substantial understatement of income tax.
Roth IRAs:
Conversion contributions withdrawn in 5-year period,
Additional tax on distributions of conversion and certain rollover contributions within 5-year period.
Excess contributions,
What if You Contribute Too Much?
Substantial understatement of income tax,
Substantial understatement of income tax.
Tax evasion,
Willful failure to file a return, supply...
Tips, failure to report,
Penalty for not reporting tips.
Underpayment of estimated tax,
Underpayment Penalty for 2012
,
Underpayment penalty.
,
Underpayment penalty. If you did not pay...
,
Penalty for underpayment of estimated tax.
Willful failure to file,
Fraud and false statements,
Withholding,
Penalties
,
Penalties.
Pennsylvania Unemployment Compensation Fund,
Pennsylvania Unemployment Compensation Fund.
Pensions,
Social Security and Equivalent Railroad Retirement Benefits
,
You can take the estate tax deduction as...
,
Rollovers
,
Retirement Plans, Pensions, and Annuities
,
Railroad retirement benefits.
,
Military retirees.
457 plans,
See:
Section 457 deferred compensation plans
Clergy,
A pension or retirement pay for a member...
Contributions:
Retirement savings contribution credit,
Special Rules
,
Retirement Savings Contributions Credit (Saver's Credit)
Taxation of,
Retirement Plan Contributions
Cost computation,
Cost (Investment in the Contract)
Decedent's unrecovered investment in,
If you received a Form 1099-R, Distributions...
Definition of,
A qualified employee plan,
,
A qualified employee plan,
Disability pensions,
Sickness and Injury Benefits
Early distributions:
Exceptions to tax on,
Exceptions to tax.
,
Additional exceptions for qualified retirement plans.
Qualified retirement plans, exceptions for,
Additional exceptions for qualified retirement plans.
Tax on,
Special Additional Taxes
,
Tax on Early Distributions
Elective deferral limitation,
Elective deferrals.
Employer plans:
Benefits from previous employer's plan,
Benefits from a previous employer's plan.
Rollover to IRA,
Employer's qualified pension, profit-sharing,...
,
Employer's qualified pension, profit-sharing,...
Situations in which no coverage,
Situations in Which You Are Not Covered by an Employer Plan
Estimated tax,
Withholding and estimated tax.
Excess accumulation, tax on,
Excess accumulation (not receiving minimum...
,
Tax on Excess Accumulation
,
Required distributions.
See also:
this heading: Required distributions
Foreign employment contributions,
Foreign employment contributions.
General Rule for nonqualified plans and qualified plans for recipients over 75 years,
Who must use the General Rule.
Inherited pensions,
Inherited pension or IRA.
Joint returns,
Joint return.
Loans from plan,
Loans.
Lump-sum distributions,
Lump-Sum Distributions
See also:
Lump-sum distributions
Military,
See:
Armed forces
Multiple pension plan benefits,
More than one program.
,
More than one annuity.
Partly taxable payments,
Partly taxable payments.
Reporting of,
How To Report
Required distributions:
At age 70,
Age 70
1
/
2
.
Excise tax for failure to take minimum distributions,
Required distributions not made.
Form 5329 for failure to receive required minimum,,
Form 5329.
State insurer delinquency proceedings preventing minimum distributions,
State insurer delinquency proceedings.
State and local government employees,
See:
Section 457 deferred compensation plans
Unrecovered investment in,
Unrecovered Investment in Annuity
Withholding,
Payment to you option.
,
Withholding and estimated tax.
,
If you received a Form 1099-R, Distributions...
,
Pensions and Annuities
See also:
Railroad retirement benefits
See also:
Rollovers
See also:
Annuities
Pentagon attacks,
See:
Terrorist attacks
Per capita taxes:
Deductibility of,
Per capita taxes. You cannot deduct state...
Per diem:
Allowance or reimbursement,
A per diem allowance is a fixed amount of...
,
Per Diem and Car Allowances
,
Reporting your expenses with a per diem or car allowance.
Charitable organization service, for,
Daily allowance (per diem).
Federal rate,
The federal rate.
High-low rate method to compute,
High-low rate.
Performing artists:
Business expenses,
Expenses of certain performing artists.
Work-related education expenses,
Performing Artists and Fee-Basis Officials
Permanent and total disability,
Permanent and total disability.
Personal exemption,
Special Rules
,
Personal Exemptions and Dependents
,
Your Own Exemption
,
If your dependent is a resident or nonresident...
Joint return,
Joint return.
Spouse's exemption,
Your Spouse's Exemption
Personal injury suits:
Damages from,
Court awards and damages.
Personal interest:
Not deductible,
Personal interest (discussed later).
,
Personal Interest
Personal property:
As capital assets,
Personal Use Property
Rental income from,
Rents from Personal Property
Taxes,
See:
Personal property taxes
Theft of,
See:
Theft losses
See also:
Casualty losses
Personal property taxes:
Car taxes,
Taxes paid on your car.
Deduction of,
Personal Property Taxes
Schedule A, C, E, or F (Form 1040),
Real estate taxes and personal property taxes.
Taxes,
See:
Personal property taxes
Personal representatives,
See:
Fiduciaries
Persons with disabilities,
See:
Disabilities, persons with
Photographs:
Casualty or theft loss claims,
Photographs taken after a casualty will be...
Physician certification,
You are permanently and totally disabled...
Physician's statement,
Physician's statement.
Veterans,
Veterans.
Place for filing,
Mailing your return.
,
Where Do I File?
Plants and trees:
Cost of, when casualty or theft loss involved,
The damage or destruction of trees, shrubs,...
,
Landscaping.
Plug-in electric drive motor vehicle credit,
Plug-in Electric Drive Motor Vehicle Credit
Plug-in electric vehicle credit,
Plug-in Electric Vehicle Credit
Points:
Basis in property not to include,
Charges connected with getting a loan, such...
,
Points.
Definition,
The term points is used to describe certain...
Excess points,
Excess points.
Form 1098 reporting,
As a general rule, Form 1098 will include...
Limits on deduction,
Limits on deduction.
Main home purchase, special treatment of,
Points on home mortgage.
Mortgage ending early,
Mortgage ending early.
Paid by seller,
Points paid by the seller.
Refinancing,
Refinancing.
Schedule A (Form 1040) to deduct,
Home mortgage interest and points.
,
If you can take a deduction for points that...
Second home,
Second home. You cannot fully deduct in the...
Settlement statement shows as charged for mortgage,
The amount is clearly shown on the settlement...
Political campaign expenses,
Campaign Expenses
,
Political Contributions
Political contributions,
See:
Campaign contributions
Political conventions:
Travel expenses,
If the convention is for investment, political,...
Ponzi-type investment schemes,
Losses from Ponzi-type investment schemes.
Post office employees:
Rural mail carriers,
Rural mail carriers.
Postponed tax deadlines:
Disaster areas,
Postponed tax deadlines.
Postponement of gain:
Sale of home,
The records you should keep include:Proof...
Adjusted basis,
Postponed gain from sale of home.
Power of attorney,
Power of attorney.
,
If your spouse cannot sign the joint return...
Preferred stock:
Redeemable at a premium,
Preferred stock redeemable at a premium.
Premature distributions,
See:
Early withdrawal from deferred interest account
Prepaid:
Insurance,
Prepaid insurance premiums.
Preparer's fee:
Deductible amount,
Tax Preparation Fees (Line 22)
Preparers of tax returns,
Paid Preparer
Prepayment:
Insurance premiums:
Deductibility as medical expense,
Prepaid insurance premiums.
Mortgage interest,
See:
Mortgages
Rent paid in advance,
Advance rent.
Presidential Election Campaign Fund,
Presidential Election Campaign Fund
Presidentially declared disasters,
See:
Disaster relief
Price reduced after purchase,
Price reduced after purchase.
Principal residence,
See:
Home
Prisoner,
Any amount received for work while an inmate...
Privacy Act and paperwork reduction information,
Privacy Act and paperwork reduction information.
Private delivery services,
Private delivery services.
Private schools:
Charitable deduction for tuition,
Tuition, or amounts you pay instead of tuition....
Prizes and awards,
Bonuses and awards.
,
Prizes and awards.
,
Employee awards or bonuses.
Exclusion from income,
Employee achievement award.
Pulitzer, Nobel, and similar prizes,
Pulitzer, Nobel, and similar prizes.
Scholarship prizes,
Prizes.
See also:
Bonuses
Probationary work periods:
Travel expenses during,
Probationary work period.
Professional license fees,
Professional Accreditation Fees
Professional Reputation,
Professional Reputation
Professionals:
Entertainment expenses for attending association meetings,
You can deduct entertainment expenses that...
Profit-sharing plans:
Lump sums,
See:
Lump-sum distributions
Withholding,
If you received a Form 1099-R, Distributions...
,
Pensions and Annuities
Promissory notes:
Charitable contributions, date of,
Promissory note.
Proof of business expense,
How To Prove Expenses
Table 26-2 summary,
You do not need to put confidential information...
Proof of loss,
Casualty loss proof.
Property,
Real Property
,
Real property bought.
,
Real property repossessed.
Found,
Found property.
Stolen,
Stolen property.
See also:
Real estate
See also:
Real Estate
Protective clothing,
Protective clothing.
Public assistance benefits,
Welfare and Other Public Assistance Benefits
Public debt:
Gifts to reduce,
Gift To Reduce Debt Held by the Public
Public parks and recreation facilities:
Charitable contributions to,
Nonprofit organizations that develop and...
Public safety officers insurance premiums,
Retired public safety officers.
Public transportation passes, employer-provided,
Transit pass.
Public utilities,
See:
Utilities
Publication
1244
:
Daily record of tips (Form 4070A),
If you keep a tip diary, you can use Form...
Reporting tips to employer,
If your employer does not give you any other...
Publication 584:
Casualty and theft losses, workbook for,
Publication 584 is available to help you...
Publications,
See:
Tax help
Puerto Rico:
Residents of,
Residents of Puerto Rico
Pulitzer Prize,
Pulitzer, Nobel, and similar prizes.
Punitive damages:
As income,
Amounts received in settlement of pension...
Q
Qualified dividends,
Qualified dividends.
,
Qualified Dividends
Qualified domestic relations orders (QDROs):
Rollover of retirement plan distribution,
Qualified domestic relations order (QDRO).
Qualified education expenses:
Work-related education, business deduction,
What Expenses Can Be Deducted
,
Also, do not reduce the qualifying work-related...
Qualified individuals:
Under age 65 and retired on permanent and total disability,
Under Age 65
Qualified joint venture,
The basic form for reporting residential...
Qualified plans,
Rollovers
,
Retirement Plans, Pensions, and Annuities
,
Generally, a rollover is a tax-free distribution...
See also:
Rollovers
See also:
Retirement plans
Qualified student loan,
See:
Student loan interest deduction
Qualified tuition programs,
Qualified tuition programs (QTPs).
Additional tax on,
Additional tax on qualified tuition programs....
Qualifying child,
Qualifying Child
Age test,
Age,
Joint return test,
Joint return.
,
Joint Return Test
Of another person,
You are a qualifying child of another taxpayer...
Relationship test,
Relationship,
Residency test,
Residency, and
Qualifying person:
Child and dependent care credit,
Qualifying Person Test
Qualifying relative,
Qualifying Relative
R
Raffles,
Lotteries and raffles.
No charitable deduction for tickets,
Costs of raffles, bingo, lottery, etc. You...
Railroad retirement benefits,
Social Security and Equivalent Railroad Retirement Benefits
,
Railroad retirement benefits.
,
If this deduction is more than $3,000, you...
,
Railroad retirement annuities.
Deductions related to,
Deductions Related to Your Benefits
Employer retirement plans different from,
Social security or railroad retirement.
Equivalent tier 1 (social security equivalent benefit (SSEB)),
Equivalent tier 1 railroad retirement benefits...
,
Tier 1 railroad retirement benefits that...
Estimated tax,
Tax withholding and estimated tax.
Form RRB-1042S for nonresident aliens,
What is not covered in this chapter.
Form RRB-1099,
Equivalent tier 1 railroad retirement benefits...
Income,
Your income is only from:
Joint returns,
Joint return.
Lump-sum election,
Lump-sum election.
Married filing separately,
Benefits not taxable.
,
Special Rules
Repayment of benefits,
Repayment of benefits.
Reporting of,
How To Report Your Benefits
Taxability of,
How Much Is Taxable?
,
Are Any of Your Benefits Taxable?
Withholding,
Commodity credit corporation loans you choose...
Not tax deductible,
Employment taxes. This includes social security,...
Withholding for,
Tax withholding and estimated tax.
Railroad Unemployment Insurance Act,
Railroad sick pay.
Real estate,
Personal Use of Dwelling Unit (Including Vacation Home)
,
Dividing Expenses
,
Dwelling Unit Used as a Home
,
Examples.
,
Amount Deductible
,
Real property repossessed.
As noncapital assets,
Real property used in your trade or business.
Basis,
Real Property
Canceled business debt, treatment of,
The debt is qualified real property business...
Casualty loss,
Real property.
Closing costs,
Settlement costs.
Definition of,
Real Property
Division of real estate taxes,
Division of real estate taxes between buyers and sellers.
Fair market value (FMV),
Fair market value (FMV).
Form 1099-S to report sale proceeds,
Form 1099-S.
,
Form 1099-S transactions.
Holding period, determination of,
Real property bought.
Itemized charges for services not deductible,
Itemized charges for services.
Points,
The term points is used to describe certain...
Progressive deterioration, not casualty loss,
Loss of property due to progressive deterioration...
Real estate-related items not deductible,
Real Estate-Related Items You Cannot Deduct
Rental,
See:
Rental income and expenses
Settlement fees,
Settlement costs.
Transfer taxes,
Transfer taxes (or stamp taxes).
See also:
Vacation homes
See also:
Mortgages
Real estate investment trusts (REITs):
Dividends from,
Capital gain distributions (also called capital...
Undistributed capital gains,
Undistributed long-term capital gains from...
Credit for tax on,
Undistributed capital gains of mutual funds and REITs.
,
Credit for Tax on Undistributed Capital Gain
Real estate taxes:
Alimony deduction for, when home owned as tenants in common,
Taxes and insurance.
Assessments,
See:
Local assessments
Basis of property and,
Real estate taxes (if you assume liability...
When not reimbursed by property seller,
Real estate taxes.
Cooperative housing,
See:
Cooperative housing
Deduction of:
Schedule A, C, E, or F (Form 1040),
Real estate and personal property taxes are...
deduction of,
Real Estate Taxes
Refund, treatment of,
Refund (or rebate).
Rebates,
See:
Refunds
Recapture:
Alimony,
Recapture Rule
Reporting on Form 1040,
Including the recapture in income.
Taxes,
Recapture taxes. You may have to pay these...
Recharacterization:
IRA contributions,
Recharacterizations
Recording fees:
Basis to include,
Recording fees, and
Recordkeeping:
Gambling,
Diary of winnings and losses.
General requirements,
You must keep records to verify your deductions....
Sale of home,
Recordkeeping. You should keep records to...
Savings bonds used for education,
Recordkeeping. If you claim the interest...
Recordkeeping requirements,
What Records Should I Keep?
Basic records,
Basic Records
Business travel expenses,
Recordkeeping
,
When you travel away from home on business,...
Copies of returns,
Copies of tax returns.
Destroyed records,
Destroyed records.
Documentary evidence,
Documentary evidence.
Electronic records,
Electronic records.
Electronic records of tips,
Electronic tip record.
Gambling,
Gambling winnings.
Incomplete records,
What if I Have Incomplete Records?
Meal expenses:
Actual cost,
Actual cost.
Standard meal allowance,
Standard meal allowance.
Period of retention,
How Long To Keep Records and Receipts
,
How Long to Keep Records
Proof of payments,
Proof of Payment
Tip income,
Report tips to your employer.
Travel expenses,
Recordkeeping
,
When you travel away from home on business,...
Why keep records,
Why Keep Records?
Work-related education expenses,
Recordkeeping
Records of loss,
It is important that you have records that...
Records to keep,
Records To Keep
Recovery of amounts previously deducted,
Recoveries
Itemized deductions,
Itemized Deduction Recoveries
Mortgage interest refund,
Mortgage interest refund.
Over multiple years,
Recovery for 2 or more years.
Stolen property, adjustment of theft loss,
Recovered stolen property.
Tax refunds,
Federal income tax refund.
Red Cross:
Blood donations not deductible,
Blood donations to the American Red Cross...
Charitable contributions to,
Most nonprofit charitable organizations such...
Redeemable ground rents:
Deduction as mortgage interest,
Redeemable ground rents.
Redemption of bonds,
Redemption or retirement of bonds.
State and local bonds, before maturity,
Redeemed before maturity.
Redemption of stock,
Redemption of stock.
Refinancing:
Fees for, not part of property basis,
Fees for refinancing a mortgage.
Points,
Refinancing.
Refundable credits,
Refundable Credits
Refunds,
Refund or balance due.
Mortgage interest, treatment of,
Refunds of interest.
State tax,
State tax refund.
Taxes,
See:
Tax refunds
Regulated investment companies:
Undistributed capital gains, credit for tax on,
Credit for Tax on Undistributed Capital Gain
Rehabilitative program payments,
Veterans' benefits.
Reimbursement,
Reimbursements
,
A per diem allowance is a fixed amount of...
,
Per Diem and Car Allowances
,
Reporting your expenses with a per diem or car allowance.
,
Reimbursements.
,
Recoveries
Accountable plans, definition of,
Accountable Plans
Allocation of,
Allocating your reimbursement.
Casualty losses,
Insurance and Other Reimbursements
Employee business expenses,
If you receive travel, transportation, or...
Gain from casualty or theft loss,
Gain from reimbursement.
Health insurance, reimbursement in later year,
Reimbursement in a later year.
Medical and dental expenses,
How Do You Treat Reimbursements?
Excess reimbursement flowchart (Figure 21-A),
However, do not report as income the amount...
Mileage,
See:
Standard mileage rates
Personal expenses,
Reimbursement for personal expenses.
Received after deducting loss,
Reimbursement Received After Deducting Loss
Returning excess for business expenses,
Returning Excess Reimbursements
Tax year of inclusion for insurance reimbursement,
Tax year of inclusion.
Theft losses,
Insurance and Other Reimbursements
Travel advances,
Travel advance.
Types of,
Types of Reimbursements
Unclaimed,
Reimbursements
Work-related education expenses,
Reimbursements
See also:
Per diem
See also:
Recovery of amounts previously deducted
Reinvestment plans:
Dividends used for,
Dividends Used to Buy More Stock
Related party transactions,
Related Party Transactions
Indirect transactions,
Indirect transactions.
Like-kind exchanges,
If you trade property with a related party...
,
Like-kind exchanges.
Multiple property sales or trades,
Multiple property sales or trades.
Relationship test,
See:
Qualifying child
Relative, qualifying,
Qualifying Relative
Relief fund contributions,
Relief Fund Contributions
Relief funds,
Disaster relief.
See also:
Disaster relief
Religious organizations,
You cannot deduct your travel expenses in...
,
Ministers.
,
Clergy
,
If you are a member of a religious organization...
,
A pension or retirement pay for a member...
Charitable contributions to,
The following list gives some examples of...
Written statement not needed,
You receive only membership benefits that...
See also:
Churches, temples, etc.
See also:
Clergy
Remainder interest, sale of,
Sale of remainder interest.
Rental income:
Uncollected rent,
Uncollected rent.
Rental income and expenses,
,
Rental Income and Expenses
Advance rent,
Advance rent.
Canceling lease, payments for,
Canceling a lease.
Capitalized costs,
The expenses you capitalize for improving...
Change of property to rental use,
Property Changed to Rental Use
,
Property Changed From Personal to Business or Rental Use
Deductions,
When to deduct.
Losses that exceed passive income,
Limits on passive activity deductions and credits.
Depreciation,
Depreciation
,
Depreciation.
See also:
Depreciation
Dwelling unit used as a home:
Days used for repairs and maintenance,
Days used for repairs and maintenance.
Donation of use of property,
Donation of use of property.
Main home determination,
Main home.
Rented for fewer than 15 days,
Rental of property also used as your home.
Dwelling unit used as home,
Dwelling Unit Used as a Home
Capital gains exclusion,
Business Use or Rental of Home
Determining if used as home,
Examples.
Division of expenses,
Dividing Expenses
Figuring days of personal use,
What is a day of personal use?
Rented for fewer than 15 days,
Minimal rental use.
Shared equity financing agreement,
Shared equity financing agreement.
Equipment rental for rental property,
Rental of equipment.
Expenses paid by tenant,
Expenses paid by tenant.
Fair rental price,
Fair rental price.
Home possession before final settlement, rent not deductible as interest,
Rental payments.
Improvements,
Repairs and Improvements
Defined,
Improvements.
Increase due to higher real estate taxes,
Rent increase due to higher real estate taxes.
Insurance premiums paid in advance,
Insurance premiums paid in advance.
Local assessments,
Local benefit taxes.
Losses from rental real estate activities,
Losses From Rental Real Estate Activities With Active Participation
,
Rental activity losses.
Not-rented-for-profit property,
Not Rented for Profit
Part interest,
Part interest.
,
Part interest.
Part of property rented,
Renting Part of Property
Personal property rental,
Rents from Personal Property
Personal use of property including vacation home,
Personal Use of Dwelling Unit (Including Vacation Home)
,
Dwelling Unit Used as a Home
Allocation of expenses,
Personal use of rental property.
Pre-rental expenses,
Pre-rental expenses.
Property or services received instead of money,
Property or services.
Purchaser's payment of rent, not included in property basis,
Rent for occupancy of the property before...
Repairs,
Repairs and Improvements
Reporting of,
How To Report Rental Income and Expenses
Sale of rental property,
Vacant while listed for sale.
Schedule E for reporting of,
How To Report Rental Income and Expenses
Security deposits,
Security deposits.
Self-employment tax, when applicable,
The basic form for reporting residential...
Tax return preparation,
Legal and other professional fees.
Time to report,
When to report.
Travel expenses associated with management and maintenance,
Local transportation expenses.
,
Travel expenses.
Vacant rental property,
Vacant rental property.
Reorganizations, corporate:
Nontaxable trade of stock,
Corporate reorganizations.
Repairs:
Basis, effect on,
Any amounts the seller owes that you agree...
,
You must increase your basis in the property...
Cost of, when casualty or theft loss involved,
Cost of cleaning up or making repairs.
Rental expenses,
Repairs and Improvements
Repayment:
Amount previously included in income,
Repayments Under Claim of Right
Repayments,
If you had to repay an amount that you included...
Social security benefits,
Repayment of benefits.
,
Repaid social security benefits.
Unemployment compensation,
Repayment of unemployment compensation.
,
Repayment of benefits.
Reporting:
Rollovers,
Reporting rollovers from employer plans.
Repossession of home,
Foreclosure or repossession.
Required minimum distributions,
Required distributions.
,
Required distributions.
,
You cannot keep funds in a traditional IRA...
See also:
Pensions
See also:
Individual retirement arrangements (IRAs)
Rescue squad members:
Life insurance proceeds when death in line of duty,
For this purpose, the term public safety...
Research expenses:
College professor,
Research Expenses of a College Professor
Reservists:
Deduction for transportation expense,
Armed Forces reservists.
IRAs,
Reservists.
Repayments,
Qualified reservist repayments.
Residency:
Home outside U.S.,
See:
Citizens outside U.S.
Main home, defined,
Main Home
Residency test,
See:
Qualifying child
Resident aliens:
Earned income credit,
If you are married and your spouse did not...
Estimated tax,
Aliens.
IRA distributions, withholding from,
IRA distributions delivered outside the United States.
Social security number (SSN),
No SSN.
Spouse treated as,
Choice to treat spouse as resident.
Residential energy credits,
Residential Energy Credits
Resorts:
Travel expenses when incidental business activities,
A trip to a resort or on a cruise ship may...
Restaurant employees:
Tips,
See:
Tip income
Retail installment contracts:
Finance charges, not deductible,
Finance charges on credit cards, retail installment...
Retail inventory,
Property held mainly for sale to customers...
Retention of records,
See:
Recordkeeping requirements
Retired Senior Volunteer Program,
Retired Senior Volunteer Program (RSVP).
Retirees,
Retirement Plans, Pensions, and Annuities
Armed forces:
Taxable income,
Military retirement pay.
See also:
Retirement plans
Retirement of bonds,
Retirement of debt instrument.
,
Redemption or retirement of bonds.
Rollover of amount redeemed,
Retirement bonds.
Retirement planning services,
Retirement Planning Services
Retirement plans,
Social Security and Equivalent Railroad Retirement Benefits
,
Rollovers
,
Retirement Plans, Pensions, and Annuities
,
Railroad retirement benefits.
,
Military retirees.
457 plans,
See:
Section 457 deferred compensation plans
Clergy,
A pension or retirement pay for a member...
Contributions:
Credit for,
See:
Retirement savings contribution credit
Taxation of,
Retirement Plan Contributions
Cost computation,
Cost (Investment in the Contract)
Decedent's unrecovered investment in,
If you received a Form 1099-R, Distributions...
Definition of,
A qualified employee plan,
,
A qualified employee plan,
Disability pensions,
Sickness and Injury Benefits
Early distributions:
Exceptions to tax on,
Exceptions to tax.
,
Additional exceptions for qualified retirement plans.
Tax on,
Special Additional Taxes
,
Tax on Early Distributions
Elective deferral limitation,
Elective deferrals.
Employer plans:
Benefits from previous employer's plan,
Benefits from a previous employer's plan.
Rollover to IRA,
Employer's qualified pension, profit-sharing,...
,
Employer's qualified pension, profit-sharing,...
Situations in which no coverage,
Situations in Which You Are Not Covered by an Employer Plan
Estimated tax,
Withholding and estimated tax.
Excess accumulation, tax on,
Special Additional Taxes
,
Excess accumulation (not receiving minimum...
,
Tax on Excess Accumulation
,
Required distributions.
See also:
this heading: Required distributions
Foreign employment contributions,
Foreign employment contributions.
General Rule for nonqualified and qualified plans for recipients over 75 years,
Who must use the General Rule.
Inherited pensions,
Inherited pension or IRA.
IRAs,
See:
Individual retirement arrangements (IRAs)
Joint return,
Joint return.
Keogh plans,
Distributions from a qualified plan are usually...
Loans from plan,
Loans.
Lump-sum distributions,
Lump-Sum Distributions
See also:
Lump-sum distributions
Military,
See:
Armed forces
Multiple pension plan benefits,
More than one program.
,
More than one annuity.
Partly taxable payments,
Partly taxable payments.
Reporting of,
How To Report
Required distributions,
Required distributions.
At age 70,
Age 70
1
/
2
.
Excise tax for failure to take minimum distributions,
Required distributions not made.
Form 5329 for failure to receive required minimum retirement plan distributions,
Form 5329.
State insurer delinquency proceedings preventing minimum distributions,
State insurer delinquency proceedings.
Section 457 plans,
See:
Section 457 deferred compensation plans
State and local government employees,
See:
Section 457 deferred compensation plans
Withholding,
Payment to you option.
,
Withholding and estimated tax.
,
If you received a Form 1099-R, Distributions...
,
Pensions and Annuities
See also:
Railroad retirement benefits
See also:
Rollovers
See also:
Annuities
See also:
Roth IRAs
Retirement savings contribution credit,
Retirement Savings Contributions Credit (Saver's Credit)
Adjusted gross income limit,
Special Rules
Returns, tax,
See:
Tax returns
Revenue stamps:
Basis to include,
Revenue stamps,
Reverse Mortgages,
Reverse mortgages.
Revolving charge accounts:
Finance charges, not deductible,
Finance charges on credit cards, retail installment...
Rewards,
Rewards.
Rhode Island Temporary Disability Benefit Fund,
Rhode Island Temporary Disability Benefit...
Robbery:
Losses due to,
Robbery.
Rollovers,
Rollovers
Beneficiaries, restrictions,
A distribution paid to a beneficiary other...
Definition of,
Generally, a rollover is a tax-free distribution...
Designated Roth account,
Designated Roth accounts.
Direct rollovers,
Direct rollover option.
Eligible distributions,
Eligible rollover distributions.
Excess due to incorrect rollover information,
Excess due to incorrect rollover information.
From 403 plan to IRA,
You can roll over amounts from the following...
From employer's plan to IRA,
An employer's qualified retirement plan for...
,
Rollover From Employer's Plan Into an IRA
From IRA to IRA,
A traditional IRA,
,
Rollover From One IRA Into Another
From IRA to Roth IRA,
You can convert amounts from a traditional...
From Roth IRA to Roth IRA,
Rollover From a Roth IRA
From section 457 plan to IRA,
A deferred compensation plan of a state or...
From SIMPLE IRA to Roth IRA,
Converting from a SIMPLE IRA.
Gain from publicly traded securities,
Rollover of Gain From Publicly Traded Securities
Inherited IRAs,
Inherited IRAs.
Lump-sum distributions,
Roll over all or part of the distribution....
Married filing separately,
Special Rules
Nonspouse beneficiary,
Rollovers by nonspouse beneficiary.
Nontaxable amounts,
Rollover of nontaxable amounts.
Partial rollovers,
Partial rollovers.
Qualified domestic relations orders for distribution of retirement plan funds,
Qualified domestic relations order (QDRO).
Reporting:
From employer's plan to IRA,
Reporting rollovers from employer plans.
IRA to IRA,
Reporting rollovers from IRAs.
Retirement bond redemption,
Retirement bonds.
Roth IRAs,
Rollovers to Roth IRAs.
Surviving spouse,
Rollover by surviving spouse.
Taxability,
An amount rolled over tax free from one retirement...
,
If you rolled over part or all of a distribution...
Time limits (60-day rule),
Time limit for making a rollover contribution.
,
The IRS may waive the 60-day requirement...
Treatment of,
Treatment of rollovers.
Waiting period between,
Waiting period between rollovers.
Withholding tax,
Payment to you option.
Roth IRAs,
Roth IRAs
,
Rollover From a Roth IRA
,
For more detailed information on Roth IRAs,...
Age:
Distributions after age 59,
Made because you are disabled,
No limit for contributions,
Is there an age limit for contributions?
No required distribution age,
Must you withdraw or use Roth IRA assets?
Compensation, defined,
Compensation.
Contribution limits,
How Much Can Be Contributed?
Age 50 or older,,
$5,000 ($6,000 if you are 50 or older in...
Under age 50,,
$5,000 ($6,000 if you are 50 or older in...
Contributions,
Can You Contribute to a Roth IRA?
No deduction for,
Unlike a traditional IRA, you cannot deduct...
Roth IRA only,
Roth IRAs only.
Time to make,
When Can You Make Contributions?
To traditional IRA for same year,
Roth IRAs and traditional IRAs.
Conversion,
Conversions
Definition of,
What Is a Roth IRA?
Distributions:
Qualified distributions,
What are qualified distributions?
Effect of modified AGI on contributions (Table 17-3),
You do not report Roth IRA contributions...
Establishing account,
When Can a Roth IRA Be Opened?
Excess contributions,
What if You Contribute Too Much?
IRA transfer to,
Transfers to Roth IRAs.
,
Converting From Any Traditional IRA to a Roth IRA
Modified adjusted gross income (MAGI),
Modified AGI.
Computation (Worksheet 17-2),
More information.
Phaseout (Table 17-3),
You do not report Roth IRA contributions...
Penalties:
Conversion contributions withdrawn in 5-year period,
Additional tax on distributions of conversion and certain rollover contributions within 5-year period.
Excess contributions,
What if You Contribute Too Much?
Recharacterizations,
Recharacterizations
Spousal contributions,
Can you contribute to a Roth IRA for your spouse?
Taxability,
Are Distributions Taxable?
Withdrawals,
Must you withdraw or use Roth IRA assets?
Excess contributions,
Withdrawal of excess contributions.
Not taxable,
Are Distributions Taxable?
See also:
Rollovers
Rounding off dollars,
Rounding off dollars.
Royalties,
Royalties
Rural mail carriers,
Rural mail carriers.
S
S corporations,
Indirect Deductions of Pass-Through Entities
Capital gains or losses from,
Your share of long-term capital gains or...
Related party transactions,
Two S corporations if the same persons own...
Shareholders,
S Corporation Income
Investment interest,
Partners, shareholders, and beneficiaries.
Safe deposit box,
Safe Deposit Box Rent
Salaries,
See:
Wages and salaries
Sale of home,
Real estate professionals.
,
The recapture tax is figured on Form 8828....
,
Sale of home.
,
Selling Your Home
Abandonment,
Abandonment.
Adjusted basis,
Adjusted Basis
,
Adjusted Basis
Amount realized,
Amount Realized
Basis,
Determining Basis
Capital gains exclusion,
Excluding the Gain
Division of real estate taxes,
Division of real estate taxes between buyers and sellers.
Employer, payment by,
Payment by employer.
Federal subsidy, recapture of,
Recapturing (Paying Back) a Federal Mortgage Subsidy
Foreclosure or repossession,
Foreclosure or repossession.
Form 1099-S,
Form 1099-S.
Gain or loss, figuring of,
Figuring Gain or Loss
Interest deduction for mortgage,
Sale of home.
Interest paid to seller, reporting of,
Deduct home mortgage interest that was not...
Jointly owned home,
Jointly owned home.
Land,
Land.
Main home, defined,
Main Home
More than one home,
More than one home.
Option to buy,
Option to buy.
Period of ownership and use,
Period of Ownership and Use
Points paid by seller,
Points paid by the seller.
Postponed gain from,
Postponed gain from sale of home.
Recordkeeping,
Recordkeeping. You should keep records to...
Reporting of gain,
Reporting the Sale
Seller-financed mortgage,
Seller-financed mortgage.
Selling price,
Selling Price
Settlement fees or closing costs,
Settlement fees or closing costs.
Trading homes,
Trading (exchanging) homes.
Transfer to spouse,
Transfer to spouse.
,
Home transferred from spouse.
Undeducted points,
Home sold with undeducted points.
See also:
Real estate
Sale of property,
See How to report and postpone gain under...
,
Sale of Property
Adjusted basis,
Adjusted basis.
Amount realized,
Amount realized.
Basis other than cost,
No gain or loss.
Business property that has undergone change of use,
Sale of property.
Cash payment,
Payment of cash.
Debt payoff included in,
A debt against the property, or against you,...
Definition of,
What Is a Sale or Trade?
Fair market value (FMV),
Fair market value.
Figuring gain or loss,
How To Figure Gain or Loss
Form 1099-B,
Use Form 1099-B (or substitute statement...
Like-kind exchanges,
Like-kind exchanges.
Personal items,
Sale of personal items.
Redemption of stock,
Redemption of stock.
Rental property that has undergone change of use,
Sale of property.
Transfers between spouses,
Transfers Between Spouses
Sales and exchanges:
Bonds,
Bonds Sold Between Interest Dates
Sales tax:
Basis to include,
Cost Basis
Car purchase,
Sales taxes.
Sales Taxes:
Actual expenses,
General Sales Taxes
Motor vehicles,
General Sales Taxes
Optional sales tax tables,
General Sales Taxes
Sales to related persons, exception,
Exception for sales to related persons.
Salvation Army,
See:
Charitable contributions
Saturday, deadline falling on,
Saturday, Sunday, holiday rule.
Savings:
Bonds,
U.S. Savings Bonds
,
U.S. savings bond interest previously reported.
Bonds used for education,
Education Savings Bond Program
Certificate,
Certificates of deposit and other deferred interest accounts.
,
Certificates of deposit (CDs).
Schedule,
Send your check to: Bureau of the Public...
,
Payments you receive as sick pay under the...
,
If you provide childcare, either in the child's...
,
However, you can deduct the value of these...
,
Special rules for housing apply to members...
Form 1040, A-F, R, SE,
See:
Form 1040
K-1:
Beneficiaries receiving income from estate or trust,
Dividends and other distributions you receive...
Partnership income,
Schedule K-1 (Form 1065).
S corporation income,
Schedule K-1 (Form 1120S).
K-1, Form 1041,
Beneficiary of an estate or trust.
R (Form 1040A or 1040),
Figuring the Credit Yourself
X:
Tax rates for single persons,
Your filing status may be single if you were...
See also:
Form 1040
Schedules A–F, R, SE (Form 1040),
See:
Form 1040
Scholarships,
Scholarships.
,
Gross income also includes all taxable unemployment...
,
Scholarships received by your child if your...
Scholarships and fellowships,
You do not claim any adjustments to income,...
,
Your income is only from:
Earned income including,
For purposes of the standard deduction, earned...
Exclusion from gross income,
Scholarships and fellowships.
Teaching or research fellowships,
In most cases, you must include in income...
Tuition deduction, effect on,
The tax-free part of scholarships and fellowships...
Scrip dividends,
Scrip dividends.
Second homes,
See:
Vacation homes
Second mortgages:
Interest,
Generally, home mortgage interest is any...
Section 1202 exclusion:
Capital gains or losses under,
If you realized a gain from qualified small...
Section 1244 stock:
Losses on,
You can deduct as an ordinary loss, rather...
Section 1250 gains:
Sale of real property subject to,
Generally, this is any part of your capital...
Section 179 deductions:
Adjustment to basis for,
Depreciation and section 179 deduction.
Car expenses,
Depreciation and section 179 deductions.
Section 457 deferred compensation plans,
Section 457 deferred compensation plans.
Early distributions from,
An eligible state or local government section...
Required distributions,
An eligible section 457 deferred compensation...
Rollovers:
To IRAs,
Governmental deferred compensation plan (section...
,
Governmental deferred compensation plan (section...
Section 72(m)(5),
Section 72(m)(5) excess benefits tax. If...
Securities,
Dividends and Other Distributions
,
Reporting Gains and Losses
Adjusted basis for,
Stocks and Bonds
As capital assets,
Stocks or bonds held in your personal account,
,
Stocks, stock rights, and bonds.
Bought at various times, how to indicate,
Sale of property bought at various times.
Claim for refund,
Worthless security. (See Worthless securities...
Constructive ownership of stock, determination of,
Constructive ownership of stock.
Convertible stocks and bonds,
Convertible stocks and bonds.
Fractional shares,
Fractional shares.
Holding period, determination of,
Securities traded on established market.
Joint owners, reporting of dividends,
Stock certificate in two or more names.
Nontaxable trades,
Corporate stocks.
Options,
Stock Options
,
Distributions by a corporation of its own...
Preferred stock, redeemable at a premium,
Preferred stock redeemable at a premium.
Redemption of stock,
Redemption of stock.
Reinvestment plan, dividends used for,
Dividends Used to Buy More Stock
Rollover of gain from publicly traded securities,
Rollover of Gain From Publicly Traded Securities
Sale expenses, how to adjust for,
On Form 8949, include in column (g) any expense...
Short-term gains and losses,
Short-term gains and losses.
Stock appreciation rights,
Stock appreciation rights.
Stock rights:
As capital assets,
Stocks, stock rights, and bonds.
Dividends as,
Distributions of Stock and Stock Rights
Holding period, determination of,
Nontaxable stock rights.
Worthless,
Stocks, stock rights, and bonds (other than...
Surrender of stock,
Surrender of stock.
Tax-exempt:
Home equity loan proceeds invested in,
Mortgage proceeds invested in tax-exempt securities.
Interest incurred to produce income from,
If you borrow money to buy property you hold...
Interest to purchase or carry, not deductible,
Interest to purchase or carry tax-exempt...
Tenants by the entirety owning, reporting of dividends,
Stock certificate in two or more names.
Tenants in common owning, reporting of dividends,
Stock certificate in two or more names.
Worthless securities,
Worthless securities.
See also:
Dividends
See also:
Capital gains
Security deposits:
Rental property, for,
Security deposits.
Self-employed persons,
Self-employment tax.
Corporate directors as,
Corporate director.
Definition,
Self-Employed Persons
Filing requirements (Table 1-3),
On Form 1040EZ, you can use only the tax...
Foreign government or international organizations, U.S. citizens employed by,
Employees of foreign governments or international organizations.
Gross income,
Self-employed individuals.
Health insurance costs, deductible as medical expense,
Health Insurance Costs for Self-Employed Persons
Homeworkers, deduction of expenses,
If you received a Form W-2 and the Statutory...
IRAs,
Self-employment income.
Meal allowance not permitted when more than 10% ownership of corporation,
Certain relationships (such as grantor, fiduciary,...
Ministers,
Ministers.
Nonemployee compensation,
Nonemployee compensation.
Qualified retirement plans for,
Qualified plans for self-employed individuals.
Travel outside U.S.,
A self-employed person generally has substantial...
Work-related education expenses,
Self-Employed Persons
,
If you are self-employed, report the cost...
See also:
Self-employment tax
Self-employment tax,
Self-employment tax. You must figure this...
Deduction of,
Self-employment tax.
Rental income,
The basic form for reporting residential...
Seller-financed mortgages,
Seller-financed mortgage.
Seminars:
Investment-related,
Investment-Related Seminars
Senior Companion Program,
Senior Companion Program.
Separate returns,
See:
Married filing separately
Separated parents,
Children of divorced or separated parents (or parents who live apart).
,
Applying this special rule to divorced or separated parents (or parents who live apart).
,
Applying Rule 9 to divorced or separated parents (or parents who live apart).
Separated taxpayers,
Married persons living apart.
Filing status,
Married Filing Separately
,
Considered Unmarried
IRAs,
Note.
Medical and dental expenses of children of,
Child of divorced or separated parents.
Mortgage interest,
Divorced or separated individuals.
Nonresident alien spouse,
Nonresident alien spouse.
Personal exemption,
Divorced or separated spouse.
Separation agreements:
Defined for purposes of alimony,
Divorce or separation instrument.
SEPs,
See:
Simplified employee pensions (SEPs)
Series EE and E savings bonds,
See:
U.S. savings bonds
Series HH and H savings bonds,
Series HH bonds.
Series I savings bonds,
Series EE and series I bonds.
Service charges,
Service Charges on Dividend Reinvestment Plans
Deductibility of,
Service charges (however, see Other Expenses...
Employer treating as wages for tip income,
Do not write in your tip diary the amount...
Service Corps of Retired Executives (SCORE),
Service Corps of Retired Executives (SCORE).
Services:
Property received for,
Property Received for Services
Settlement date of securities transaction,
Do not confuse the trade date with the settlement...
Settlement fees:
Real property transactions,
Settlement costs.
Sale of home,
Settlement fees or closing costs.
Severance pay,
Severance pay.
Accrued leave payment,
If you are a federal employee and receive...
Outplacement services,
Outplacement services.
Shipping:
Business-related travel expense,
Table 26-1. Travel Expenses You Can Deduct This chart summarizes expenses you can deduct when you travel away from home for business purposes.
Shipwrecks:
Casualty loss due to,
Shipwrecks.
Short tax year:
Change in annual accounting period,
You are filing a tax return for a short tax...
Short-term debt instruments:
Government obligations,
Short-term government obligations.
Ordinary gain,
Short-term nongovernment obligations.
Short-term gains and losses,
This section discusses the tax treatment...
,
Short-term gains and losses.
Priority in deducting,
Use short-term losses first.
Sale or trade of property held 1 year or less,
Long-term or short-term.
Sick leave:
Cash payments for unused leave,
Unused sick leave used to pay premiums.
Federal employees buying back,
You can deduct the amount you spend to buy...
Sick pay:
Collective bargaining agreements,
Sick Pay
FECA payments,
Federal Employees' Compensation Act (FECA).
Income,
Sick pay.
Railroad Unemployment Insurance Act,
Railroad sick pay.
Withholding,
Supplemental Wages
,
Sick Pay
Signatures,
Signatures
Agent, use of,
When someone can sign for you.
Joint returns,
Signing a joint return.
Mentally incompetent,
Court-appointed, conservator, or other fiduciary.
Parent for child,
Spouse unable to sign.
Physically disabled,
Court-appointed, conservator, or other fiduciary.
Signing your return,
For more details, visit www.irs.gov/efile...
Silver,
See:
Gold and silver
SIMPLE plans:
Rollover to Roth IRA,
Converting from a SIMPLE IRA.
Simplified employee pensions (SEPs):
IRAs as,
Kinds of traditional IRAs.
Simplified Method:
Computation of taxable annuity,
Complete the Simplified Method Worksheet...
Worksheet,
How to use the Simplified Method.
Single taxpayers:
Charitable contributions to, no deduction for,
Contributions to Individuals
Filing requirements,
Individuals—In General
Filing status,
Filing status.
,
Single
,
Unmarried persons.
Form 1040EZ, use of,
You (and your spouse if married filing a...
,
Your filing status may be single if you were...
Gross income filing requirements (Table 1-1),
Filing Information
Small businesses:
Capital gains or losses from stock of,
Gain on qualified small business stock.
Keogh plans,
Distributions from a qualified plan are usually...
Losses on stock of,
Losses on Section 1244 (Small Business) Stock
Social clubs:
Dues:
Not entertainment expenses,
Club dues and membership fees.
Social security and Medicare taxes,
Employment Taxes for Household Employers
,
Uncollected social security and Medicare...
Allocated tips,
Because social security and Medicare taxes...
Reporting of (Table 1-3),
On Form 1040EZ, you can use only the tax...
Support, not included in,
Social security and Medicare taxes paid by...
Social security benefits,
Social Security and Equivalent Railroad Retirement Benefits
,
If this deduction is more than $3,000, you...
,
Social security benefits.
Deductions related to,
Deductions Related to Your Benefits
Employer retirement plans different from,
Social security or railroad retirement.
Estimated tax,
Tax withholding and estimated tax.
Foreign employer,
Social security and Medicare taxes.
Form SSA-1042S for nonresident aliens,
What is not covered in this chapter.
Form SSA-1099,
Equivalent tier 1 railroad retirement benefits...
Group-term life insurance, taxes owed on,
You received $20 or more in tips in any 1...
Income,
Your income is only from:
IRAs for recipients of benefits,
Social security recipients.
Joint returns,
Joint return.
Lump-sum election,
Lump-sum election.
Married filing separately,
Benefits not taxable.
,
Special Rules
Paid by employer,
Social security and Medicare taxes paid by employer.
Repayment of benefits,
Repayment of benefits.
,
Repaid social security benefits.
Repayments,
Repayments of Social Security Benefits
Reporting of,
How To Report Your Benefits
Taxability of,
How Much Is Taxable?
,
Are Any of Your Benefits Taxable?
Tips, taxes owed on,
You received $20 or more in tips in any 1...
Withholding,
Tier 1 railroad retirement benefits,
Withholding for,
Tax withholding and estimated tax.
Not deductible,
Employment taxes. This includes social security,...
Social security number (SSN),
Social Security Number (SSN)
Correspondence with IRS, include SSN,
SSN on correspondence.
Dependents,
Dependent's SSN.
Exception,
Exception.
Failure to include penalty,
Penalty for not providing social security number.
Form SS-5 to request number,
No SSN.
Nonresident alien spouse,
Nonresident alien spouse.
Resident aliens,
No SSN.
Social security numbers (SSNs),
Taxpayer identification number.
Alimony recipient's number required,
Enter the amount of alimony you paid on Form...
,
You must give the person who paid the alimony...
Child's,
Taxpayer identification numbers.
Number to be obtained at birth,
If your child was born and died in 2012,...
Dependents,
Taxpayer identification numbers.
Dividend payers to use,
Social security number (SSN).
Earned income credit,
Rule 2. You Must Have a Valid Social Security Number (SSN)
,
If your qualifying child has been kidnapped...
Penalty for failure to provide:
To dividend payers,
You must give your name and SSN (or individual...
Social security card,
Rule 2. You Must Have a Valid Social Security Number (SSN)
Sonic booms:
Casualty loss due to,
Sonic booms.
Special needs children:
Adoption credit,
Child with special needs.
Spouse,
Rollover by surviving spouse.
,
Surviving spouse.
,
Surviving Spouses, Executors, Administrators, and Legal Representatives
,
Nonresident alien spouse.
,
Spouse unable to sign.
,
Spouse died.
,
Nonresident alien or dual-status alien.
,
Head of household or qualifying widow(er) with dependent child.
,
Spouse died during the year.
Disabled, qualifying for dependent care credit,
Rule for student-spouse or spouse not able to care for self.
Student,
Rule for student-spouse or spouse not able to care for self.
See also:
Surviving spouse
See also:
Married taxpayers
SSN,
See:
Social security number (SSN)
Stamp taxes:
Real estate transactions and,
Transfer taxes (or stamp taxes).
Stamps,
See:
Collectibles
Standard deduction,
Standard Deduction
,
You and your spouse can use the method that...
Age 65 or older,
Higher Standard Deduction for Age (65 or Older)
Final return of decedent,
Decedent's final return.
Married filing separately:
One spouse has itemized,
Your filing status is married filing separately,...
Standard meal allowance,
The high-low rate.
,
The standard meal allowance.
,
The standard meal allowance.
,
Standard meal allowance.
,
Who can use the standard meal allowance.
Amount of,
Amount of standard meal allowance.
Areas outside continental U.S.,
Standard meal allowance for areas outside the continental United States.
Prorating on partial days of travel,
Prorating the standard meal allowance on partial days of travel.
Standard medical mileage rates,
Standard mileage rate.
Medical reasons for use of car,
You can include out-of-pocket expenses, such...
Standard mileage rates:
Business-related miles,
Actual car expenses.
,
Standard Mileage Rate
,
Standard mileage rate.
Car expenses,
Actual car expenses.
Charitable organization service, auto use for,
If you do not want to deduct your actual...
Not allowed,
Standard mileage rate not allowed.
Work-related education,
Standard mileage rate.
,
Using your car.
State:
Obligations, interest on,
Interest on a bond used to finance government...
State bar associations:
Bar review courses,
Bar or CPA Review Course
Charitable contributions to,
Chambers of commerce and other business leagues...
State or local governments:
Bonds, tax-exempt,
Tax-exempt state and local government bonds.
Charitable contributions to,
The United States or any state, the District...
Employees:
Section 457 plans for,
See:
Section 457 deferred compensation plans
Unemployment compensation,
State employees.
Fee-basis officials:
Business expenses of,
Special Rules
Work-related education expenses,
Performing Artists and Fee-Basis Officials
State or local income taxes,
Electing to itemize for state tax or other purposes.
Deduction of,
State and Local Income Taxes
,
State or local taxes.
Schedule A (Form 1040),
These taxes are deducted on Schedule A (Form...
Electronic returns filed with federal,
State returns.
Exception to deduction,
Exception.
Federal changes, effect on,
Effect on state tax liability.
Form W-2 to show withheld taxes,
Withheld taxes.
Interest on, not deductible,
Interest on federal, state, or local income...
Joint state and local returns but federal returns filed separately,
Joint state and local returns.
Married filing separately,
Separate federal returns.
Refunds, treatment of,
Refund applied to taxes.
,
Refund (or credit) of state or local income taxes.
State or local taxes:
Refunds,
State tax refund.
Statute of limitations:
Claim for refund,
If you filed your joint return and your joint...
Claim for refunds,
Time for filing a claim for refund.
Statutory employees,
Statutory employees.
Stillborn child,
Stillborn child.
Stock appreciation rights,
Stock appreciation rights.
Stock bonus plans,
A life insurance company under an endowment,...
Stock certificates:
Charitable contributions, date of,
Stock certificate.
Stock options,
Stock Options
,
Distributions by a corporation of its own...
Stockholders,
Worthless security. (See Worthless securities...
Debts,
Stockholder debt.
See also:
Securities
Stockholders' meeting expenses,
Stockholders' Meetings
Stocks,
Worthless security. (See Worthless securities...
See also:
Securities
Stolen funds:
Reporting of,
Stolen property.
Stolen property,
See:
Theft losses
Storms,
Disaster relief.
Casualty loss due to,
Storms, including hurricanes and tornadoes.
See also:
Disaster relief
Straddles:
Interest from,
If you borrow money to buy property you hold...
Strike benefits,
Strike and lockout benefits.
Student loan interest deduction:
Loan repayment assistance,
Interest you paid on a loan to the extent...
Student loans:
Cancellation of debt,
Student loans.
Interest deduction,
Student Loan Interest Deduction
,
You may be able to deduct interest you pay...
,
You do not claim any credits other than the...
,
Student loan interest deduction.
Academic period,
Academic period.
Amount of deduction,
How Much Can You Deduct
Claiming,
Can You Claim the Deduction
,
For qualified student loans taken out before...
Double deduction not allowed,
No Double Benefit Allowed
Eligible educational institution,
Eligible educational institution.
Eligible student,
Eligible student.
Features of (Table 19-1),
Married filing separately,
Special Rules
Qualified student loan,
Qualified Student Loan
Worksheet,
How Do You Figure the Deduction
Interest, defined,
Student Loan Interest Defined
Student claimed as exemption on tax return of another person,
You are legally obligated to pay interest...
Students:
Credit,
See:
Education credits
Defined,
Student defined.
Exemption from withholding,
Students.
Foreign,
Foreign students' place of residence.
Foreign students,
Expenses Paid for Student Living With You
Loans,
See:
Student loans
Scholarships,
See:
Scholarships and fellowships
Tuition programs, qualified,
See:
Qualified tuition programs
Work-related education,
See:
Work-related education
Substantial gainful activity,
Substantial gainful activity.
Substitute forms,
Substitute tax forms.
Sunday, deadline falling on,
Saturday, Sunday, holiday rule.
Supplemental wages,
Supplemental Wages
Supplies:
Regularly used or consumed in ordinary course of trade or business,
Supplies of a type you regularly use or consume...
Support test:
Qualifying child,
Support Test (To Be a Qualifying Child)
Qualifying relative,
Support Test (To Be a Qualifying Relative)
Surveys:
Property basis to include,
Survey fees.
Surviving spouse:
Annuity,
Survivors and Beneficiaries
Filing status,
Head of household or qualifying widow(er) with dependent child.
With dependent child,
Qualifying Widow(er) With Dependent Child
Gross income filing requirements (Table 1-1),
Filing Information
Life insurance proceeds paid to,
Surviving spouse.
Rollovers by,
Rollover by surviving spouse.
Single filing status,
Widow(er).
Tax,
See:
Estate tax
Synagogues,
See:
Churches, temples, etc.
T
Tables and figures:
Car expenses, reporting of (Table 26-3),
Your employer sends you on a 5-day business...
Casualty and theft losses:
Deduction limits for personal property (Table 25-1),
Due to the $100 rule (discussed later under...
Deduction of loss, when to take (Table 25-2),
If your recognized gains are more than your...
Charitable contributions, deductibility of (Table 24-1),
You can deduct your contributions only if...
Children's income:
Inclusion on parent's return (Figure 30-A),
If you make this election for 2012 and did...
Investment income more than $1,900, reporting of (Figure 30-B),
Figure 30-B. Do You Have To Use Form 8615 To Figure Your Child's Tax?
Entertainment expenses:
50% limit (Figure 26-A),
Entertainment expenses: 50% limit
Proof of (Table 26-2),
You do not need to put confidential information...
Reporting of (Table 26-3),
Your employer sends you on a 5-day business...
Estimated tax, who must make payments (Figure 4-A),
For more complete information on how to figure...
Filing requirements:
Dependents (Table 1-2),
File only one federal income tax return for...
Gross income levels (Table 1-1),
Filing Information
Other situations requiring filing (Table 1-3),
On Form 1040EZ, you can use only the tax...
Gift expenses:
Proof of (Table 26-2),
You do not need to put confidential information...
Reporting of (Table 26-3),
Your employer sends you on a 5-day business...
Head of household, qualifying person (Table 2-1),
You are considered unmarried for head of...
Individual retirement arrangements (IRAs):
Roth IRAs, effect of modified AGI on contributions (Table 17-3),
You do not report Roth IRA contributions...
Roth IRAs, modified AGI (Worksheet 17-2),
More information.
Interest deductions, forms to use (Table 23-1),
If your home mortgage interest deduction...
,
Table 23-1. Where To Deduct Your Interest Expense
Meal expenses and 50% limit (Figure 26-A),
Entertainment expenses: 50% limit
Medical and dental expenses:
Checklist for deductible expense (Table 21-1),
If you are not covered under social security...
Reimbursement, excess algorithm (Figure 21-A),
However, do not report as income the amount...
Roth IRA and modified adjusted gross income (MAGI) phaseout (Table 17-3),
You do not report Roth IRA contributions...
Standard deduction tables,
2012 Standard Deduction Tables
Student loan interest deduction (Table 19-1),
Tax returns:
Steps to prepare (Table 1-6),
Table 1-6. Six Steps for Preparing Your Paper Return
Travel and transportation expenses:
Examples of deductible expenses (Table 26-1),
Table 26-1. Travel Expenses You Can Deduct This chart summarizes expenses you can deduct when you travel away from home for business purposes.
Local transportation (Figure 26-B),
Figure 26-B illustrates the rules for when...
Proof of (Table 26-2),
You do not need to put confidential information...
Reporting of (Table 26-3),
Your employer sends you on a 5-day business...
Tuition deduction (Table 19-2),
Table 19-2. Tuition and Fees Deduction at...
Work-related education (Figure 27-A),
Tax counsel fees,
Tax Preparation Fees (Line 22)
Tax Counseling for the Elderly,
Free Help With Your Return
Tax credits,
See:
Credits
Tax evasion,
Willful failure to file a return, supply...
Tax figured by IRS,
Tax Figured by IRS
Tax help,
Customer service for taxpayers.
,
Help from the IRS.
,
How To Get Tax Help
Tax Counseling for the Elderly,
Free Help With Your Return
Volunteer counseling (Volunteer Income Tax Assistance program),
Free Help With Your Return
,
Volunteer tax counseling.
Tax preference items,
The more common adjustments and tax preference...
Tax rates:
Married filing separately (Schedule Y-2),
If you file as married filing separately,...
Single person filing (Schedule X),
Your filing status may be single if you were...
Tax refunds:
Agreement with IRS extending assessment period, claim based on,
Claim based on an agreement with the IRS...
Bad debts,
Bad debt. (See Nonbusiness Bad Debts in chapter...
Business tax credit carrybacks,
Carryback of certain business tax credits....
Cashing check,
Cashing your refund check.
Check's expiration date,
Cashing your refund check.
Claim for,
If the refund is made within 45 days after...
,
Amended Returns and Claims for Refund
,
Processing claims for refund.
Limitations period,
Time for filing a claim for refund.
Litigation,
Taking your claim to court.
Direct deposit,
If your refund for 2012 is large, you may...
Erroneous refunds,
Interest on erroneous refund.
Federal income tax refunds,
Federal income tax refund.
Financially disabled,
Financially disabled.
Foreign tax paid or accrued,
Foreign tax paid or accrued. (See Publication...
General rules,
Refunds.
Inquiries,
Refund inquiries.
Interest on,
Interest on Refunds
,
Interest on refund.
,
Interest on tax refunds.
Late filed returns,
Refund on a late filed return.
Limits,
Limit on amount of refund.
,
Exceptions,
Exceptions for special types of refunds.
More or less than expected,
Refund more or less than expected.
Net operating loss carryback,
Net operating loss carryback. (See Publication...
Offset:
Against debts,
You can have a refund check mailed to you,...
,
Offset against debts.
Against next year's tax,
Refunds
Offset against next year's tax,
Credit an overpayment on your 2012 return...
Past-due,
Refund inquiries.
,
Refund Information
Real estate taxes, treatment of,
Refund (or rebate).
Reduced,
Reduced refund.
State and local income tax refunds,
Refund applied to taxes.
,
Refund (or credit) of state or local income taxes.
State liability, effect on,
Effect on state tax liability.
Under $1,
Overpayment less than one dollar.
Withholding,
You had federal income tax withheld or made...
Worthless securities,
Worthless security. (See Worthless securities...
Claim for refund,
Filing a claim for refund.
Tax return preparation:
Rental expenses,
Legal and other professional fees.
Tax Returns:
Transcript of,
If you just need information from your return,...
Tax returns,
Accounting period.
Aliens,
Aliens
Amended,
Changing your mind.
,
Amended Returns and Claims for Refund
,
Form 1040X.
,
Filing Form 1040X.
See also:
Form 1040X
Attachments to returns,
Attachments
Child,
Spouse unable to sign.
Copies of,
Copies of tax returns.
Dating of,
Signatures
Filing of,
Filing Information
,
Mailing your return.
See also:
Filing requirements
Forms to use,
Which Form Should I Use?
Free preparation help,
Free Help With Your Return
How to file,
How Do I Prepare My Return?
Joint returns,
See:
Joint Returns
Mailing of,
Mailing your return.
Paid preparer,
Paid Preparer
Payment with,
Amount You Owe
Phone number to be included,
Include your phone number on your return.
Preparation fees,
Tax Preparation Fees (Line 22)
Private delivery services,
Private delivery services.
Steps to prepare (Table 1-6),
Table 1-6. Six Steps for Preparing Your Paper Return
Third party designee,
Third Party Designee
Who must file,
What's New
,
Do I Have To File a Return?
,
Who Should File
See also:
Signatures
See also:
Joint Returns
Tax table,
Tax Tables
Tax year,
When Do I Have To File?
,
When Do I Report My Income and Expenses?
,
Accounting Periods
See also:
Accounting periods
Tax-exempt:
Bonds and other obligations,
State or Local Government Obligations
Income,
Tax-Exempt Income Expenses
Interest,
State or Local Government Obligations
Obligations:
Adjusted basis,
Tax-exempt obligations.
Organizations:
Related party transactions,
A tax-exempt charitable or educational organization...
Section 457 deferred compensation plans,
If you work for a state or local government...
Tax-exempt income,
Tax-exempt income.
Tax-exempt obligations:
Adjusted basis for,
Tax-exempt obligations.
Tax-free exchanges:
Definition of,
Nontaxable Exchanges
Holding period, determination of,
Nontaxable trades.
Taxable exchanges:
Definition of,
Taxable Exchanges
Taxes,
Sales taxes.
,
All other deductible taxes are deducted on...
,
Taxes
,
Household workers.
,
Tax.
Alternative minimum,
Alternative Minimum Tax (AMT)
Business taxes, deduction of,
Business taxes.
Deduction of,
Tests To Deduct Any Tax
Schedules to use,
Where To Deduct
Estate,
See:
Estate tax
Excise,
See:
Excise taxes
Federal income taxes, not deductible,
Federal income taxes. This includes income...
,
Fines and penalties. You cannot deduct fines...
Foreign taxes,
Foreign taxes.
Income tax. deduction of,
Foreign Income Taxes
Gift taxes,
Gift taxes.
How to figure,
How To Figure Your Tax
Income taxes, deduction of,
Income Taxes
Indian tribal government taxes, deduction of,
Indian tribal government.
Inheritance tax,
Estate, inheritance, legacy, or succession...
Kiddie tax,
See:
Children, subheading: Investment income of
Not deductible,
Taxes and Fees You Cannot Deduct
Personal property taxes:
Car taxes,
Taxes paid on your car.
Deduction of,
Personal Property Taxes
Real estate taxes,
See:
Real estate taxes
Sales tax,
Cost Basis
See also:
Sales tax
Taxes, not support,
Federal, state, and local income taxes paid...
Taxis:
Business-related travel expense,
Table 26-1. Travel Expenses You Can Deduct This chart summarizes expenses you can deduct when you travel away from home for business purposes.
Standard mileage rate not allowed,
Taxpayer Advocate,
Taxpayer Advocate Service.
Taxpayer Assistance Center,
Customer service for taxpayers.
Taxpayer identification number (TIN):
Adoption (ATIN),
Adoption taxpayer identification number (ATIN).
Individual (ITIN),
Individual taxpayer identification number (ITIN).
Social security number,
See:
Social security number (SSN)
Taxpayer identification numbers (TINs),
Taxpayer identification number needed for each qualifying person.
,
Taxpayer identification number.
Child and dependent care credit,
Provider Identification Test
Childcare provider,
Provider Identification Test
Individual (ITIN),
If your child was born and died in 2012,...
Social security numbers,
See:
Social security numbers (SSNs)
Teachers:
Expenses, deduction of,
Educator Expenses
Work-related education,
Requirements for Teachers
,
Teaching and Related Duties
Telephones,
Residential Telephone Service
Business-related travel expense,
Table 26-1. Travel Expenses You Can Deduct This chart summarizes expenses you can deduct when you travel away from home for business purposes.
Fraud or misconduct of IRS employee, number for reporting anonymously,
If you want to confidentially report misconduct,...
Tax return to include phone number,
Include your phone number on your return.
Temples,
See:
Churches, temples, etc.
Temporary absence from job:
Work-related education during,
Education during temporary absence.
Temporary absences,
Temporary absences.
,
Temporary absences.
Temporary job assignments:
Travel expenses,
Temporary Assignment or Job
Tenants,
Rental Income
By the entirety,
In common,
See also:
Rental income and expenses
Tenants by the entirety:
Alimony, no deduction for taxes and insurance paid on home owned as,
If you must pay all the real estate taxes...
Dividends, reporting of,
Stock certificate in two or more names.
Real estate taxes, allocation when filing separately,
Tenants by the entirety.
Tenants in common:
Alimony deduction for taxes and insurance paid on home owned as,
Taxes and insurance.
Dividends, reporting of,
Stock certificate in two or more names.
Terminal illness:
Accelerated payment of life insurance proceeds,
See:
Accelerated death benefits
Viatical settlements,
Viatical settlement.
Termite damage:
Not casualty losses,
Termite or moth damage.
Terrorist attacks:
Casualty loss due to,
Terrorist attacks.
Disability payments for injuries from, tax exclusion,
Disability pensions.
,
Disability payments for injuries incurred...
Disability pensions for federal employees,
Terrorist attack or military action.
Theft losses,
If your casualty or theft loss deduction...
,
Nonbusiness Casualty and Theft Losses
,
Casualty and Theft Losses
,
Casualty and Theft Losses of Income-Producing Property
$100 Rule,
$100 Rule
Adjusted basis in property,
Adjusted Basis
,
Involuntary Conversions
,
Casualty and theft losses.
Amount of loss,
Figuring a Loss
Appraisals,
Appraisal.
,
Appraisals are used to figure the decrease...
Cost of cleaning up or making repairs,
Cost of cleaning up or making repairs.
Costs of photographs and appraisals,
Costs of photographs and appraisals.
Deduction of loss:
When to take (Table 25-2),
If your recognized gains are more than your...
Definition of theft,
A theft is the taking and removing of money...
Fair market value of stolen property,
FMV of stolen property.
Form 4684 to be filed,
When you have a casualty or theft, you have...
Insurance proceeds, treatment of,
Insurance and Other Reimbursements
Net operating losses,
Net operating loss (NOL).
Proof of loss,
Theft loss proof.
Property used partly for business and partly for personal purposes,
Property used partly for business and partly for personal purposes.
Recovered stolen property,
Recovered stolen property.
Reimbursement,
Insurance and Other Reimbursements
Reporting of gain or loss,
How To Report Gains and Losses
,
When To Report Gains and Losses
,
Losses.
Third parties:
Alimony payments made to,
Payments to a third party.
,
Payments to a third party.
,
Other payments to a third party.
Designee for IRS to discuss return with,
Third Party Designee
Income from taxpayer's property paid to,
Payment to third party.
Threats:
Losses due to,
Robbery.
Tickets,
See:
Entertainment expenses
Tiebreaker rules,
Tiebreaker rules.
,
Tiebreaker rules.
Tip expense:
Business meal or entertainment activity, 50% deduction limit,
Taxes and tips relating to a business meal...
Business travel expense,
Table 26-1. Travel Expenses You Can Deduct This chart summarizes expenses you can deduct when you travel away from home for business purposes.
,
The term incidental expenses means fees and...
Tip income,
Tip Income
,
Because social security and Medicare taxes...
Allocated tips,
Allocated Tips
,
Allocated tips.
Daily record of tips,
Report tips to your employer.
,
Keeping a Daily Tip Record
Electronic tip record,
Electronic tip record.
Form 4070A for daily records,
If you keep a tip diary, you can use Form...
Noncash tips,
Do not report the value of any noncash tips,...
,
The value of noncash tips, such as tickets,...
,
The value of noncash tips, such as tickets,...
,
The value of any noncash tips you get, such...
Penalty for failure to report,
Penalty for not reporting tips.
Reporting on tax return,
Reporting Tips on Your Tax Return
Reporting tips to employer,
Reporting Tips to Your Employer
,
What tips to report.
,
Report all your tips on your income tax return.
Failure to report to employer,
You were a bona fide resident of Puerto Rico...
,
Penalty for not reporting tips.
Form 4070 for,
If your employer does not give you any other...
Service charges paid by employer as wages,
Do not write in your tip diary the amount...
Social security and Medicare tax:
Employer reporting for purposes of,
Your employer can report the correct amount...
Filing requirements (Table 1-3),
On Form 1040EZ, you can use only the tax...
Uncollected,
You received $20 or more in tips in any 1...
Tip-splitting or tip-pooling arrangements,
All tips you receive are income and are subject...
,
The amount of tips you paid out to other...
Uncollected taxes,
Uncollected taxes. You must report on your...
,
Reporting uncollected social security and Medicare taxes on tips reported to your employer.
Withholding,
Your employer can withhold federal income...
,
Tips
Employee contributing to,
Giving your employer money for taxes.
Underwithholding,
Any taxes that remain unpaid can be collected...
,
Not enough pay to cover taxes.
Title insurance:
Property basis to include,
Owner's title insurance.
Title to property:
Abstract fees, property basis to include,
Abstract fees (abstract of title fees).
Attorneys' fees:
Property basis to include,
Legal fees (including fees for the title...
Tolls:
Business-related travel,
Parking fees and tolls.
Tools,
Tools Used in Your Work
Hauling to and from work,
Hauling tools or instruments.
Rental for use on rental property,
Rental of equipment.
Tornadoes,
Disaster relief.
Casualty loss due to,
Storms, including hurricanes and tornadoes.
See also:
Disaster relief
Total support,
Total Support
Tour guides:
Free tour for organizing tour,
Free tour.
Trade Act of 1974:
Trade readjustment allowances under,
Trade readjustment allowances under the Trade...
Trade associations:
Meetings and entertainment expenses,
Trade association meetings.
Trade of property,
Sale of Property
Definition of,
What Is a Sale or Trade?
Form 8824 for reporting,
How to report.
Like property and money transferred,
Partially nontaxable exchanges.
,
Like property and money transferred.
Like-kind exchanges,
Like-Kind Exchanges
,
Like-kind exchanges.
Nontaxable exchanges,
Nontaxable Exchanges
,
Nontaxable Trades
Holding period, determination of,
Nontaxable trades.
Partially nontaxable exchange,
Partially nontaxable exchanges.
,
Partly nontaxable exchange.
Reporting of,
How to report.
Taxable exchange, defined,
Taxable Exchanges
See also:
Sale of property
Trade-in of car,
Sale, Trade-In, or Other Disposition
Trading date of securities transaction,
Do not confuse the trade date with the settlement...
Traditional IRAs,
See:
Individual retirement arrangements (IRAs)
Traffic violations:
Fines not deductible,
Fines and collateral.
Transfer taxes:
Property basis to include,
Transfer taxes.
Real estate transactions and,
Transfer taxes (or stamp taxes).
Transit passes,
Transit pass.
Transportation,
Transportation.
Transportation expenses,
See:
Travel and transportation expenses
Transportation workers:
Meal expenses,
Special rate for transportation workers.
Deduction limits,
Individuals subject to hours of service limits.
Form 2106 or 2106-EZ, how to complete,
Hours of service limits.
Travel and transportation expenses,
Transportation Expenses
,
If you sell, trade in, or otherwise dispose...
,
Travel Expenses
,
See chapter 1 of Publication 463 for information...
Advances,
Reimbursement, allowance, or advance.
,
Travel advance.
Allocation of types of costs,
Separating expenses.
,
Separating costs.
Bona fide business purpose,
Bona fide business purpose.
Business associates,
Business associate.
Business travel,
Table 26-1. Travel Expenses You Can Deduct This chart summarizes expenses you can deduct when you travel away from home for business purposes.
$75 or less,
Your expense, other than lodging, is less...
Confidential information and,
Confidential information.
Employees' expenses,
Employee.
Incidental expenses,
Incidental expenses.
Proof of business purpose,
Proving business purpose.
Receipt not readily available to prove,
You have a transportation expense for which...
Spouse or dependents,
Travel expenses for another individual.
Trip outside U.S.,
Part of Trip Outside the United States
,
Travel Outside the United States
,
Travel Primarily for Business
,
Travel Primarily for Personal Reasons
Trip primarily for business,
Trip Primarily for Business
Trip primarily for personal reasons,
Trip Primarily for Personal Reasons
U.S. travel,
Travel in the United States
Unproved amounts,
Unproven amounts.
Visiting clients or customers,
Visiting clients or customers.
Charitable organization service, deduction for,
Travel.
,
Deductible travel expenses.
Commuting expenses,
Commuting expenses.
Employer-provided commuter vehicle,
Commuter highway vehicle.
Conventions,
Conventions
Delegates, deduction of unreimbursed amount,
Conventions.
Deductible expenses,
What Travel Expenses Are Deductible?
Examples of (Table 26-1),
Table 26-1. Travel Expenses You Can Deduct This chart summarizes expenses you can deduct when you travel away from home for business purposes.
Definition of,
Travel expenses defined.
Estimates of,
You cannot deduct amounts that you approximate...
Expenses paid for others,
Travel Expenses for Another Individual
Federal crime investigators or prosecutors,
Exception for federal crime investigations or prosecutions.
Form 2106 or 2106-EZ, how to fill out,
Transportation expenses.
Fringe benefits,
Transportation
Getting from home to temporary workplace when multiple regular workplaces,
Getting from your home to a temporary workplace...
Going home on days off from temporary assignment,
Going home on days off.
Going to business meeting away from regular workplace,
Going to a business meeting away from your...
Going to family home,
Tax home different from family home.
Indefinite assignment,
Temporary assignment vs. indefinite assignment.
Job search expenses,
Job interview expenses.
Medical purposes, for,
Transportation
,
Car expenses.
Mileage rates,
See:
Standard mileage rates
,
Standard medical mileage rates
New employment,
Travel and transportation expenses.
No main place of business or work,
No main place of business or work.
Nonaccountable plans, definition of,
Nonaccountable Plans
Parking fees:
Business-related travel,
Parking fees and tolls.
Commuting expense,
Parking fees.
Employer-provided fringe benefit,
Qualified parking.
Medical-related travel,
You can also include parking fees and tolls....
Probationary work periods,
Probationary work period.
Proof of expenses,
How To Prove Expenses
Summary (Table 26-2),
You do not need to put confidential information...
Recordkeeping requirements,
Recordkeeping
,
When you travel away from home on business,...
Rental property maintenance and management, for,
Local transportation expenses.
,
Travel expenses.
Reporting of,
How To Report
Table 26-3 showing forms to be used,
Your employer sends you on a 5-day business...
Resorts or cruise ships,
A trip to a resort or on a cruise ship may...
School children, transporting of,
Transporting school children.
Summary of rules (Figure 26-B),
Figure 26-B illustrates the rules for when...
Tax home, determination of,
Tax Home
Temporary assignment or job,
Temporary Assignment or Job
Temporary work location,
Temporary work location.
Tips,
Table 26-1. Travel Expenses You Can Deduct This chart summarizes expenses you can deduct when you travel away from home for business purposes.
,
The term incidental expenses means fees and...
Transit pass,
Transit pass.
Work-related education,
Transportation Expenses
,
Travel Expenses
Traveling salespersons:
Deduction of expenses,
If you received a Form W-2 and the Statutory...
Tax home, determination of,
If you do not have a regular or a main place...
Treasury bills, notes, and bonds,
U.S. Treasury Bills, Notes, and Bonds
Treasury Inspector General:
Telephone number to report anonymously fraud or misconduct of IRS employee,
Treasury Inspector General for Tax Administration.
Treasury notes,
U.S. obligations.
Trees and plants:
Cost of, when casualty or theft loss involved,
The damage or destruction of trees, shrubs,...
,
Landscaping.
Trust beneficiaries:
Dividends received by,
Beneficiary of an estate or trust.
Losses of trust,
Losses.
Receiving income from trust,
An estate or trust, unlike a partnership,...
,
Current income required to be distributed.
,
If you are the beneficiary of an estate or...
,
In most cases, property you receive as a...
Rollover restrictions,
A distribution paid to a beneficiary other...
Trustees:
Administrative fees,
Trustee's Administrative Fees for IRA
IRA,
Trustee's Administrative Fees for IRA
IRAs:
Fees,
Trustees' fees.
,
Trustees' fees.
Notification of recharacterization,
Required notifications.
Transfer from trustee to trustee,
Trustee-to-trustee transfer. You can direct...
,
Trustee-to-Trustee Transfer
Trusts,
Beneficiary of an estate or trust.
,
Current income required to be distributed.
,
Losses.
,
Tax on accumulation distribution of trusts....
Grantor trusts,
Grantor trust.
Income,
An estate or trust, unlike a partnership,...
Child beneficiary,
Income from property received as a gift.
Investment interest,
Partners, shareholders, and beneficiaries.
Related party transactions with fiduciaries,
Fiduciaries of two different trusts, or the...
See also:
Trust beneficiaries
TTY/TDD information,
How To Get Tax Help
Tuition,
Table 19-2. Tuition and Fees Deduction at...
Alimony payments made to cover,
Payments to a third party.
Charitable deduction not allowed for paying,
Tuition, or amounts you pay instead of tuition....
Deduction for:
Claiming for dependent,
Who Can Claim a Dependent's Expenses
Eligible educational institution, defined,
Qualified Education Expenses
Expenses that do not qualify,
Expenses That Do Not Qualify
Qualified programs,
See:
Qualified tuition programs
Related expenses, defined,
Related expenses.
Tuition programs, qualified,
See:
Qualified tuition programs
Tuition, benefits under GI Bill,
Tuition payments and allowances under the GI Bill.
U
U.S. citizen:
Earned income credit,
Rule 4. You Must Be a U.S. Citizen or Resident Alien All Year
U.S. citizen or resident,
Citizen or Resident Test
U.S. national,
U.S. national.
U.S. obligations, interest,
U.S. obligations.
,
U.S. Savings Bonds
U.S. possessions:
Charitable contributions to,
The United States or any state, the District...
Deduction of income tax paid to,
Foreign Income Taxes
Income from,
Individuals With Income From U.S. Possessions
U.S. Postal Service,
See:
Post office employees
U.S. savings bonds:
Education, used for,
Special Rules
Interest on,
Interest on qualified savings bonds.
Transfer between spouses,
U.S. Treasury bills or notes:
Trade of,
U.S. Treasury notes or bonds.
U.S. Treasury bills, notes, and bonds,
U.S. Treasury Bills, Notes, and Bonds
U.S. Virgin Islands:
Income from,
Individuals With Income From U.S. Possessions
Unclaimed reimbursement,
Unclaimed reimbursement.
Uncollected rent:
Income,
Uncollected rent.
Underpayment penalties,
Underpayment Penalty for 2012
,
Underpayment penalty.
,
Underpayment penalty. If you did not pay...
IRS computation,
IRS can figure the penalty for you.
Undistributed capital gains,
Undistributed capital gains of mutual funds and REITs.
,
Credit for Tax on Undistributed Capital Gain
,
Undistributed long-term capital gains from...
Unearned income of child,
See:
Children, subheading: Investment income of
Unemployment compensation,
You do not claim any adjustments to income,...
,
Your income is only from:
,
Unemployment Benefits
Credit card insurance paying,
Credit card insurance.
Mandatory contributions to state funds, deduction of,
Contributions to state benefit funds.
Private fund, from,
Private unemployment fund.
Repayment of benefits,
Repayment of unemployment compensation.
,
Repayment of benefits.
Reporting on Forms 1040, 1040A, or 1040EZ,
Supplemental unemployment benefits.
Supplemental benefits,
Supplemental unemployment benefits.
Voluntary benefit fund contributions,
Voluntary Unemployment Benefit Fund Contributions
Withholding,
Unemployment Compensation
,
Tax withholding.
Unemployment tax:
State employment taxes,
State employment tax.
Uniform Settlement Statement (Form HUD-1):
Points shown on,
The amount is clearly shown on the settlement...
Uniformed services,
Members of the uniformed services or Foreign Service, employees of the intelligence community, or employees or volunteers of the Peace Corps.
Uniforms,
Work Clothes and Uniforms
Charitable organization requiring, deduction for cost and upkeep of,
Uniforms.
Unions,
Union agreements.
,
Payments by a union.
,
Union benefits and dues.
,
Strike and lockout benefits.
Assessments,
You can also deduct assessments for benefit...
Dues,
Union Dues and Expenses
See also:
Labor unions
United States,
See:
headings starting with Federal or U.S.
United Way,
See:
Charitable contributions
Universities,
See:
Colleges and universities
Unlawful discrimination suits:
Deduction for costs,
Deduction for costs involved in unlawful discrimination suits.
Unmarried persons,
See:
Single taxpayers
Unrecaptured Section 1250 gain,
This section discusses the tax treatment...
,
Unrecaptured section 1250 gain.
Unstated interest,
If you buy property on a time-payment plan...
,
The amount you realize from a sale or trade...
Unused sick leave:
Cash payments for,
Unused sick leave used to pay premiums.
Use of home in business,
Home Office
Used clothing and household goods:
Charitable deduction for,
Clothing and household items.
Used clothing and household items:
Charitable deduction for fair market value,
Used clothing and household items.
Usurious interest,
Usurious interest.
Utilities:
Charges for installing included in property basis,
Charges for installing utility services.
Emergency energy programs, charitable contributions to,
Utility company emergency energy programs,...
Energy conservation subsidies,
Energy conservation subsidies.
,
A nonrefundable credit against the purchase...
Late payment charges, not deductible,
Late payment charges by a public utility.
Rebates,
Utility rebates.
V
Vacation homes:
Determining if used as home,
Examples.
Points,
Second home. You cannot fully deduct in the...
Rental expenses,
Personal Use of Dwelling Unit (Including Vacation Home)
,
Dividing Expenses
,
Dwelling Unit Used as a Home
Valuations,
Appraisal.
,
Appraisals are used to figure the decrease...
,
Basis of Property
,
Fair market value (FMV).
See also:
Appraisals
See also:
Fair market value (FMV)
Value of time or services:
No charitable deduction for,
Value of Time or Services
Vandalism:
Casualty loss due to,
Vandalism.
Veterans benefits,
Veterans' benefits.
Retroactive determination,
Retroactive VA determination.
Special statute of limitations.,
Special statute of limitations.
Veterans' benefits:
Educational assistance,
VA payments.
Tuition deduction, effect on,
Veterans' educational assistance (see chapter...
Veterans' insurance:
Dividends on,
Dividends on veterans' insurance.
Veterans' organizations:
Charitable contributions to,
Domestic fraternal societies, orders, and...
Viatical settlements,
Viatical settlement.
,
Accelerated death benefits are fully excludable...
Victims of terrorism,
See:
Terrorist attacks
VISTA volunteers,
Volunteers in Service to America (VISTA).
Volunteer firefighters:
Charitable contributions to,
Nonprofit volunteer fire companies.
IRAs,
Volunteer firefighters.
Volunteer work,
Volunteers
,
Volunteer work.
Out-of-pocket expenses, deductible when serving for qualified organization,
Out-of-Pocket Expenses in Giving Services
,
You can deduct your contributions only if...
Tax counseling (Volunteer Income Tax Assistance program),
Free Help With Your Return
,
Volunteer tax counseling.
Value of income lost by, not deductible,
The value of income lost while you work as...
Vouchers for payment of tax,
Send in your payment (check or money order)...
,
Pay by Check or Money Order Using the Estimated Tax Payment Voucher
W
W-2 form,
See:
Form W-2
Wages and salaries,
Form W-2.
,
A reimbursement for medical care is generally...
,
Wages, Salaries, and Other Earnings
,
If you are a U.S. citizen or resident alien,...
,
In most cases, if you receive property for...
Accident and health insurance,
Accident or Health Plan
Accrued leave payment,
If you are a federal employee and receive...
Adoption, employer assistance,
Adoption Assistance
Advance commissions,
Advance commissions and other earnings.
Allowances and reimbursements,
If you receive travel, transportation, or...
,
Expense allowances.
Archer MSA contributions,
Archer MSA contributions.
Awards and prizes,
Bonuses and awards.
Babysitting,
If you provide childcare, either in the child's...
Back pay awards,
Include in income amounts you are awarded...
Bonuses,
Bonuses and awards.
Child care providers,
If you provide childcare, either in the child's...
Children's earnings,
Child's earnings.
Clergy,
Clergy
De minimis benefits,
De Minimis (Minimal) Benefits
Elective deferrals,
Elective deferrals.
Employee achievement award,
Employee achievement award.
Employee compensation,
Employee Compensation
Farmworkers,
Farmworkers.
Foreign employer,
Foreign Employer
Form W-2,
See:
Form W-2
Fringe benefits,
Fringe Benefits
Garnisheed,
Garnisheed wages.
Government cost-of-living allowances,
Government cost-of-living allowances.
Household workers,
Household workers.
Income,
You do not claim any adjustments to income,...
,
Your income is only from:
Foreign,
Foreign income.
Long-term care coverage,
Accident or Health Plan
Military retirees,
Military retirement pay.
,
Military retirees.
Military service,
Military
Miscellaneous compensation,
Miscellaneous Compensation
Note for services,
Note received for services.
Outplacement services,
Outplacement services.
Religious orders,
Members of Religious Orders
Restricted property,
Restricted Property
Dividends on restricted stock,
Stock you chose to include in income.
Retirement plan contributions by employer,
Retirement Plan Contributions
Severance pay,
Severance pay.
Sick pay,
Other compensation.
,
Sick pay.
Social security and Medicare taxes paid by employer,
Social security and Medicare taxes paid by employer.
Stock appreciation rights,
Stock appreciation rights.
Stock options,
Stock Options
Supplemental,
Supplemental Wages
Volunteer work,
Volunteers
Withholding,
See:
Withholding
See also:
Form W-2
Waiters and waitresses:
Tips,
See:
Tip income
War veterans' organizations,
See:
Veterans' organizations
War zone,
See:
Combat zone
Wash sales,
Wash Sales
,
Publication 550, Investment Income and Expenses...
,
If you sell or trade at a gain property you...
Washington State Supplemental Workmen's Compensation Fund,
Washington State Supplemental Workmen's Compensation...
Welfare benefits,
Welfare and Other Public Assistance Benefits
,
Support provided by the state (welfare, food stamps, housing, etc.).
What's new,
What's New
Educator expenses,
Educator Expenses
Where to file,
Where To File
Widow/widower,
See:
Surviving spouse
Winter energy payments,
Energy conservation subsidies.
Withholding,
Form W-2.
,
Underpayment Penalty for 2012
Agricultural Act of 1949 payments,
Payments under the Agricultural Act of 1949...
Changing amount withheld,
Changing Your Withholding
For 2014,
Changing your withholding for 2014.
Checking amount of,
Checking Your Withholding
Claim for refund,
You had federal income tax withheld or made...
Commodity credit loans,
Payments under the Agricultural Act of 1949...
Credit for,
Credit for Withholding and Estimated Tax for 2012
,
Credit for withholding and estimated tax....
Cumulative wage method,
Cumulative wage method.
Definition,
Withholding. If you are an employee, your...
Determining amount to withhold,
Determining Amount of Tax Withheld Using Form W-4
,
Getting the Right Amount of Tax Withheld
Disaster Assistance Act of 1988 payments,
Payments under the Agricultural Act of 1949...
Dividend income,
Reporting tax withheld.
Employers, rules for,
Rules Your Employer Must Follow
Exemption from,
Exemption From Withholding
Federal income taxes, not deductible,
Federal income taxes. This includes income...
,
Fines and penalties. You cannot deduct fines...
Fiscal years,
Fiscal Years
Form W-4:
Provided by employer,
New Form W-4.
Fringe benefits,
Taxable Fringe Benefits
Gambling winnings,
Form W-2G
,
Gambling Winnings
General rules,
Tax Withholding for 2013
Highest rate, employer must withhold at if no W-4,
No Form W-4.
Incorrect form,
Form Not Correct
IRA distributions,
Withholding.
New job,
New Job
Penalties,
Underpayment penalty. If you did not pay...
,
Penalties
,
Penalties.
Pensions and annuities,
Payment to you option.
,
Withholding and estimated tax.
,
If you received a Form 1099-R, Distributions...
,
Pensions and Annuities
Railroad retirement benefits,
Tax withholding and estimated tax.
,
Commodity credit corporation loans you choose...
Repaying withheld tax,
Repaying withheld tax.
Rollovers,
Payment to you option.
Salaries and wages,
Salaries and Wages
Separate returns,
Separate Returns
Sick pay,
Sick Pay
Social security benefits,
Tax withholding and estimated tax.
,
Tier 1 railroad retirement benefits,
State and local income taxes, deduction for,
Withheld taxes.
Supplemental wages,
Supplemental Wages
Tips,
See:
Tip income
Unemployment compensation,
Unemployment Compensation
,
Tax withholding.
See also:
Form W-2
Work clothes,
Work Clothes and Uniforms
Work-related education,
Tax Benefits for Work-Related Education
Business deduction:
Qualified expenses,
What Expenses Can Be Deducted
,
Also, do not reduce the qualifying work-related...
Reimbursements,
Reimbursements
Tax benefit of,
Have expenses for education that meet the...
Education required by employer or by law,
Education Required by Employer or by Law
Education that qualifies for new trade or business,
Education That Qualifies You for a New Trade or Business
Education to maintain or improve skills,
Education To Maintain or Improve Skills
Education to meet minimum requirements,
Education To Meet Minimum Requirements
Indefinite absence from work,
Education during indefinite absence.
Meal expenses,
50% limit on meals.
Qualifying education (Figure 27-A),
Recordkeeping requirements,
Recordkeeping
Reimbursement for,
Reimbursements
Teachers,
Requirements for Teachers
,
Teaching and Related Duties
Temporary absence from work,
Education during temporary absence.
Travel expenses for,
Travel Expenses
Unclaimed reimbursement,
Unclaimed reimbursement.
Workers' compensation,
Workers' Compensation
Mandatory contributions to state funds, deduction of,
Contributions to state benefit funds.
Return to work,
Return to work.
Worksheets:
Capital loss carryover,
Complete the Capital Loss Carryover Worksheet...
Casualty and theft losses,
Workbook for casualties and thefts.
Excess withholding credit,
How to figure the credit if you did not work for a railroad.
Roth IRA modified adjusted gross income (MAGI), computation (Worksheet 17-2),
More information.
Simplified Method computation of taxable annuity,
How to use the Simplified Method.
Social security or railroad retirement benefits, to figure taxability,
Which worksheet to use.
,
Worksheet 11-1.
Student loan interest deduction,
How Do You Figure the Deduction
Support test,
The support Frank and Mary provide, $4,040...
World Trade Center attacks,
See:
Terrorist attacks
Worthless securities,
Worthless securities.
Wristwatch,
Wristwatches
Write-offs,
See:
Cancellation of debt
Y
Youth groups:
Troop leader's travel expenses,
You are a troop leader for a tax-exempt youth...
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