taxmap/pubs/p544-000.htm#en_us_publink100072251taxmap/pubs/p544-000.htm#en_us_publink1000269652The IRS has created a page on IRS.gov for information about Publication 544 at
www.irs.gov/pub544
Information about any future developments affecting Publication 544 (such as
legislation enacted after we release it) will be posted on that page.
Gain on transfer of annuity contracts.
(p1)The gain recognition rules for transfers of a portion of an annuity contract for a new annuity contract have been revised. See
Insurance Policies and Annuities in chapter 1.
For 2011, many transactions that would have been reported on Schedule D (Form 1040) or D-1 (Form 1040) are now reported on new Form 8949, Sales and Other Dispositions of Capital Assets. You must now complete all necessary pages of Form 8949 before completing line 1, 2, 3, 8, 9, or 10 of Schedule D (Form 1040). See chapter 4,
Reporting Gains and Losses.
Dispositions of U.S. real property interests by foreign persons.
(p2)If you are a foreign person or firm and you sell or otherwise dispose of a U.S. real property interest, the buyer (or other transferee) may have to withhold income tax on the amount you receive for the property (including cash, the fair market value of other property, and any assumed liability). Corporations, partnerships, trusts, and estates also may have to withhold on certain U.S. real property interests they distribute to you. You must report these dispositions and distributions and any income tax withheld on your U.S. income tax
return.
For more information on dispositions of U.S. real property interests, see Publication
519, U.S. Tax Guide for Aliens.
Foreign source income.
(p2)If you are a U.S. citizen with income from dispositions of property outside the United States (foreign income), you must report all such income on your tax return unless it is exempt from U.S. law. This is true whether you reside inside or outside the United States and whether or not you receive a Form 1099 from the foreign
payor.
Photographs of missing children.
(p2)The Internal Revenue Service is a proud partner with the National Center for Missing and Exploited Children. Photographs of missing children selected by the Center may appear in this publication on pages that would otherwise be blank. You can help bring these children home by looking at the photographs and calling 1-800-THE-LOST (1-800-843-5678) if you recognize a
child.
You dispose of property when any of the following occurs.
- You sell property.
- You exchange property for other property.
- Your property is condemned or disposed of under threat of
condemnation.
- Your property is repossessed.
- You abandon property.
- You give property away.
This publication explains the tax rules that apply when you dispose of property. It discusses the following topics.
- How to figure a gain or loss.
- Whether your gain or loss is ordinary or capital.
- How to treat your gain or loss when you dispose of business
property.
- How to report a gain or loss.
This publication also explains whether your gain is taxable or your loss is
deductible.
This publication does not discuss certain transactions covered in other IRS publications. These include the following.
- Most transactions involving stocks, bonds, options, forward and futures contracts, and similar investments. See chapter 4 of Publication
550, Investment Income and Expenses.
- Sale of your main home. See Publication
523, Selling Your Home.
- Installment sales. See Publication
537, Installment Sales.
- Transfers of property at death. See Publication
559, Survivors, Executors, and Administrators.
When individuals dispose of property, you usually will have to file one or more of the following forms.
- Schedule D (Form 1040), Capital Gains and Losses.
- Form 4797, Sales of Business Property.
- Form 8824, Like-Kind Exchanges.
- Form 8949, Sales and Other Dispositions of Capital Assets.
We welcome your comments about this publication and your suggestions for future
editions.
You can write to us at the following address.
Internal Revenue Service
Business, Exempt Organizations and International Forms and Publications
Branch
SE:W:CAR:MP:T:B
1111 Constitution Ave. NW, IR-6526
Washington, DC 20224
We respond to many letters by telephone. Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your
correspondence.
You can email us at
*taxforms@irs.gov.
(The asterisk must be included in the address.) Please put "Publications
Comment" on the subject line.You can also send us comments from
www.irs.gov/formspubs/, select "Comment on Tax Forms and Publications" under "Information
about."
Although we cannot respond individually to each email, we do appreciate your feedback and will consider your comments as we revise our tax
products.
taxmap/pubs/p544-000.htm#en_us_publink1000257504Visit
www.irs.gov/formspubs/
to download forms and publications, call 1-800-829-3676, or write to the address
below and receive a response within 10 days after your request is received.
Internal Revenue Service
1201 N. Mitsubishi Motorway
Bloomington, IL 61705-6613If you have a tax question, check the information available on IRS.gov or call 1-800-829-1040. We cannot answer tax questions sent to either of the above
addresses.
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