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10 40 Ez Form

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10 40 Ez Form

10 40 ez form 1. 10 40 ez form   Filing Information Table of Contents What's New Reminders Introduction Do I Have To File a Return?Individuals—In General Dependents Certain Children Under Age 19 or Full-Time Students Self-Employed Persons Aliens Who Should File Which Form Should I Use?Form 1040EZ Form 1040A Form 1040 Does My Return Have To Be on Paper?IRS e-file When Do I Have To File?Private delivery services. 10 40 ez form Extensions of Time To File How Do I Prepare My Return?When Do I Report My Income and Expenses? Social Security Number (SSN) Presidential Election Campaign Fund Computations Attachments Third Party Designee Signatures Paid Preparer Refunds Amount You Owe Gift To Reduce Debt Held by the Public Name and Address Where Do I File? What Happens After I File?What Records Should I Keep? Why Keep Records? Kinds of Records to Keep Basic Records How Long to Keep Records Refund Information Interest on Refunds Change of Address What If I Made a Mistake?Amended Returns and Claims for Refund Penalties Identity Theft What's New Filing status for same-sex married couple. 10 40 ez form   If you have a same-sex spouse whom you legally married in a state (or foreign country) that recognizes same-sex marriage, you and your spouse generally must use the married filing jointly or married filing separately filing status on your 2013 return, even if you and your spouse now live in a state (or foreign country) that does not recognize same-sex marriage. 10 40 ez form See Publication 501 for more information. 10 40 ez form Additional Medicare Tax. 10 40 ez form  Beginning in 2013, a 0. 10 40 ez form 9% Additional Medicare Tax applies to Medicare wages, Railroad Retirement Tax Act (RRTA) compensation, and self-employment income over a threshold amount based on your filing status. 10 40 ez form For more information, see the Instructions for Form 1040, line 60, and Form 8959. 10 40 ez form Net Investment Income Tax. 10 40 ez form  Beginning in 2013, you may be subject to Net Investment Income Tax (NIIT). 10 40 ez form NIIT is a 3. 10 40 ez form 8% tax on the lesser of net investment income or the excess of your modified adjusted gross income over a threshold amount. 10 40 ez form For more information, see the Instructions for Form 1040, line 60, and Form 8960. 10 40 ez form Refundable credit for prior year minimum tax. 10 40 ez form  The refundable portion of the credit for prior year minimum tax is no longer available. 10 40 ez form Who must file. 10 40 ez form  Generally, the amount of income you can receive before you must file a return has been increased. 10 40 ez form See Table 1-1, Table 1-2, and Table 1-3 for the specific amounts. 10 40 ez form Reminders File online. 10 40 ez form  Rather than filing a return on paper, you may be able to file electronically using IRS e-file. 10 40 ez form Create your own personal identification number (PIN) and file a completely paperless tax return. 10 40 ez form For more information, see Does My Return Have To Be on Paper , later. 10 40 ez form Change of address. 10 40 ez form  If you change your address, you should notify the IRS. 10 40 ez form You can use Form 8822 to notify the IRS of the change. 10 40 ez form See Change of Address , later, under What Happens After I File. 10 40 ez form Enter your social security number. 10 40 ez form  You must enter your social security number (SSN) in the spaces provided on your tax return. 10 40 ez form If you file a joint return, enter the SSNs in the same order as the names. 10 40 ez form Direct deposit of refund. 10 40 ez form  Instead of getting a paper check, you may be able to have your refund deposited directly into your account at a bank or other financial institution. 10 40 ez form See Direct Deposit under Refunds, later. 10 40 ez form If you choose direct deposit of your refund, you may be able to split the refund among two or three accounts. 10 40 ez form Pay online or by phone. 10 40 ez form  If you owe additional tax, you may be able to pay online or by phone. 10 40 ez form See How To Pay , later. 10 40 ez form Installment agreement. 10 40 ez form  If you cannot pay the full amount due with your return, you may ask to make monthly installment payments. 10 40 ez form See Installment Agreement , later, under Amount You Owe. 10 40 ez form You may be able to apply online for a payment agreement if you owe federal tax, interest, and penalties. 10 40 ez form Automatic 6-month extension. 10 40 ez form  You can get an automatic 6-month extension to file your tax return if, no later than the date your return is due, you file Form 4868, Application for Automatic Extension of Time To File U. 10 40 ez form S. 10 40 ez form Individual Income Tax Return. 10 40 ez form See Automatic Extension , later. 10 40 ez form Service in combat zone. 10 40 ez form  You are allowed extra time to take care of your tax matters if you are a member of the Armed Forces who served in a combat zone, or if you served in the combat zone in support of the Armed Forces. 10 40 ez form See Individuals Serving in Combat Zone , later, under When Do I Have To File. 10 40 ez form Adoption taxpayer identification number. 10 40 ez form  If a child has been placed in your home for purposes of legal adoption and you will not be able to get a social security number for the child in time to file your return, you may be able to get an adoption taxpayer identification number (ATIN). 10 40 ez form For more information, see Social Security Number (SSN) , later. 10 40 ez form Taxpayer identification number for aliens. 10 40 ez form  If you or your dependent is a nonresident or resident alien who does not have and is not eligible to get a social security number, file Form W-7, Application for IRS Individual Taxpayer Identification Number, with the IRS. 10 40 ez form For more information, see Social Security Number (SSN) , later. 10 40 ez form Frivolous tax submissions. 10 40 ez form  The IRS has published a list of positions that are identified as frivolous. 10 40 ez form The penalty for filing a frivolous tax return is $5,000. 10 40 ez form Also, the $5,000 penalty will apply to other specified frivolous submissions. 10 40 ez form For more information, see Civil Penalties , later. 10 40 ez form Introduction This chapter discusses the following topics. 10 40 ez form Whether you have to file a return. 10 40 ez form Which form to use. 10 40 ez form How to file electronically. 10 40 ez form When, how, and where to file your return. 10 40 ez form What happens if you pay too little or too much tax. 10 40 ez form What records you should keep and how long you should keep them. 10 40 ez form How you can change a return you have already filed. 10 40 ez form Do I Have To File a Return? You must file a federal income tax return if you are a citizen or resident of the United States or a resident of Puerto Rico and you meet the filing requirements for any of the following categories that apply to you. 10 40 ez form Individuals in general. 10 40 ez form (There are special rules for surviving spouses, executors, administrators, legal representatives, U. 10 40 ez form S. 10 40 ez form citizens and residents living outside the United States, residents of Puerto Rico, and individuals with income from U. 10 40 ez form S. 10 40 ez form possessions. 10 40 ez form ) Dependents. 10 40 ez form Certain children under age 19 or full-time students. 10 40 ez form Self-employed persons. 10 40 ez form Aliens. 10 40 ez form The filing requirements for each category are explained in this chapter. 10 40 ez form The filing requirements apply even if you do not owe tax. 10 40 ez form Even if you do not have to file a return, it may be to your advantage to do so. 10 40 ez form See Who Should File, later. 10 40 ez form File only one federal income tax return for the year regardless of how many jobs you had, how many Forms W-2 you received, or how many states you lived in during the year. 10 40 ez form Do not file more than one original return for the same year, even if you have not gotten your refund or have not heard from the IRS since you filed. 10 40 ez form Individuals—In General If you are a U. 10 40 ez form S. 10 40 ez form citizen or resident, whether you must file a return depends on three factors: Your gross income, Your filing status, and Your age. 10 40 ez form To find out whether you must file, see Table 1-1, Table 1-2, and Table 1-3. 10 40 ez form Even if no table shows that you must file, you may need to file to get money back. 10 40 ez form (See Who Should File , later. 10 40 ez form ) Gross income. 10 40 ez form   This includes all income you receive in the form of money, goods, property, and services that is not exempt from tax. 10 40 ez form It also includes income from sources outside the United States or from the sale of your main home (even if you can exclude all or part of it). 10 40 ez form Include part of your social security benefits if: You were married, filing a separate return, and you lived with your spouse at any time during 2013; or Half of your social security benefits plus your other gross income and any tax-exempt interest is more than $25,000 ($32,000 if married filing jointly). 10 40 ez form If either (1) or (2) applies, see the instructions for Form 1040 or 1040A, or Publication 915, Social Security and Equivalent Railroad Retirement Benefits, to figure the social security benefits you must include in gross income. 10 40 ez form   Common types of income are discussed in Part Two of this publication. 10 40 ez form Community income. 10 40 ez form   If you are married and your permanent home is in a community property state, half of any income described by state law as community income may be considered yours. 10 40 ez form This affects your federal taxes, including whether you must file if you do not file a joint return with your spouse. 10 40 ez form See Publication 555, Community Property, for more information. 10 40 ez form Nevada, Washington, and California domestic partners. 10 40 ez form   A registered domestic partner in Nevada, Washington, or California generally must report half the combined community income of the individual and his or her domestic partner. 10 40 ez form See Publication 555. 10 40 ez form Self-employed individuals. 10 40 ez form   If you are self-employed, your gross income includes the amount on line 7 of Schedule C (Form 1040), Profit or Loss From Business; line 1 of Schedule C-EZ (Form 1040), Net Profit From Business; and line 9 of Schedule F (Form 1040), Profit or Loss From Farming. 10 40 ez form See Self-Employed Persons , later, for more information about your filing requirements. 10 40 ez form    If you do not report all of your self-employment income, your social security benefits may be lower when you retire. 10 40 ez form Filing status. 10 40 ez form   Your filing status depends on whether you are single or married and on your family situation. 10 40 ez form Your filing status is determined on the last day of your tax year, which is December 31 for most taxpayers. 10 40 ez form See chapter 2 for an explanation of each filing status. 10 40 ez form Age. 10 40 ez form   If you are 65 or older at the end of the year, you generally can have a higher amount of gross income than other taxpayers before you must file. 10 40 ez form See Table 1-1. 10 40 ez form You are considered 65 on the day before your 65th birthday. 10 40 ez form For example, if your 65th birthday is on January 1, 2014, you are considered 65 for 2013. 10 40 ez form Table 1-1. 10 40 ez form 2013 Filing Requirements for Most Taxpayers IF your filing status is. 10 40 ez form . 10 40 ez form . 10 40 ez form AND at the end of 2013 you  were. 10 40 ez form . 10 40 ez form . 10 40 ez form * THEN file a return if  your gross income  was at least. 10 40 ez form . 10 40 ez form . 10 40 ez form ** single under 65 $10,000     65 or older $11,500   married filing jointly*** under 65 (both spouses) $20,000     65 or older (one spouse) $21,200     65 or older (both spouses) $22,400   married filing separately any age $3,900   head of household under 65 $12,850     65 or older $14,350   qualifying widow(er) with dependent child under 65 $16,100   65 or older $17,300   * If you were born on January 1, 1949, you are considered to be age 65 at the end of 2013. 10 40 ez form ** Gross income means all income you received in the form of money, goods, property, and services that is not exempt from tax, including any income from sources outside the United States or from the sale of your main home (even if you can exclude part or all of it). 10 40 ez form Do not include any social security benefits unless (a) you are married filing a separate return and you lived with your spouse at any time during 2013 or (b) one-half of your social security benefits plus your other gross income and any tax-exempt interest is more than $25,000 ($32,000 if married filing jointly). 10 40 ez form If (a) or (b) applies, see the Instructions for Form 1040 or 1040A or Publication 915 to figure the taxable part of social security benefits you must include in gross income. 10 40 ez form Gross income includes gains, but not losses, reported on Form 8949 or Schedule D. 10 40 ez form Gross income from a business means, for example, the amount on Schedule C, line 7, or Schedule F, line 9. 10 40 ez form But, in figuring gross income, do not reduce your income by any losses, including any loss on Schedule C, line 7, or Schedule F, line 9. 10 40 ez form *** If you did not live with your spouse at the end of 2013 (or on the date your spouse died) and your gross income was at least $3,900, you must file a return regardless of your age. 10 40 ez form Surviving Spouses, Executors, Administrators, and Legal Representatives You must file a final return for a decedent (a person who died) if both of the following are true. 10 40 ez form You are the surviving spouse, executor, administrator, or legal representative. 10 40 ez form The decedent met the filing requirements at the date of death. 10 40 ez form For more information on rules for filing a decedent's final return, see Publication 559, Survivors, Executors, and Administrators. 10 40 ez form U. 10 40 ez form S. 10 40 ez form Citizens and Resident Aliens Living Abroad To determine whether you must file a return, include in your gross income any income you received abroad, including any income you can exclude under the foreign earned income exclusion. 10 40 ez form For information on special tax rules that may apply to you, see Publication 54, Tax Guide for U. 10 40 ez form S. 10 40 ez form Citizens and Resident Aliens Abroad. 10 40 ez form It is available online and at most U. 10 40 ez form S. 10 40 ez form embassies and consulates. 10 40 ez form See How To Get Tax Help in the back of this publication. 10 40 ez form Residents of Puerto Rico If you are a U. 10 40 ez form S. 10 40 ez form citizen and also a bona fide resident of Puerto Rico, you generally must file a U. 10 40 ez form S. 10 40 ez form income tax return for any year in which you meet the income requirements. 10 40 ez form This is in addition to any legal requirement you may have to file an income tax return with Puerto Rico. 10 40 ez form If you are a bona fide resident of Puerto Rico for the entire year, your U. 10 40 ez form S. 10 40 ez form gross income does not include income from sources within Puerto Rico. 10 40 ez form It does, however, include any income you received for your services as an employee of the United States or a U. 10 40 ez form S. 10 40 ez form agency. 10 40 ez form If you receive income from Puerto Rican sources that is not subject to U. 10 40 ez form S. 10 40 ez form tax, you must reduce your standard deduction. 10 40 ez form As a result, the amount of income you must have before you are required to file a U. 10 40 ez form S. 10 40 ez form income tax return is lower than the applicable amount in Table 1-1 or Table 1-2. 10 40 ez form For more information, see Publication 570, Tax Guide for Individuals With Income From U. 10 40 ez form S. 10 40 ez form Possessions. 10 40 ez form Individuals With Income From U. 10 40 ez form S. 10 40 ez form Possessions If you had income from Guam, the Commonwealth of the Northern Mariana Islands, American Samoa, or the U. 10 40 ez form S. 10 40 ez form Virgin Islands, special rules may apply when determining whether you must file a U. 10 40 ez form S. 10 40 ez form federal income tax return. 10 40 ez form In addition, you may have to file a return with the individual island government. 10 40 ez form See Publication 570 for more information. 10 40 ez form Dependents If you are a dependent (one who meets the dependency tests in chapter 3), see Table 1-2 to find out whether you must file a return. 10 40 ez form You also must file if your situation is described in Table 1-3. 10 40 ez form Responsibility of parent. 10 40 ez form   Generally, a child is responsible for filing his or her own tax return and for paying any tax on the return. 10 40 ez form If a dependent child must file an income tax return but cannot file due to age or any other reason, then a parent, guardian, or other legally responsible person must file it for the child. 10 40 ez form If the child cannot sign the return, the parent or guardian must sign the child's name followed by the words “By (your signature), parent for minor child. 10 40 ez form ” Child's earnings. 10 40 ez form   Amounts a child earns by performing services are included in his or her gross income and not the gross income of the parent. 10 40 ez form This is true even if under local law the child's parent has the right to the earnings and may actually have received them. 10 40 ez form But if the child does not pay the tax due on this income, the parent is liable for the tax. 10 40 ez form Certain Children Under Age 19 or Full-Time Students If a child's only income is interest and dividends (including capital gain distributions and Alaska Permanent Fund dividends), the child was under age 19 at the end of 2013 or was a full-time student under age 24 at the end of 2013, and certain other conditions are met, a parent can elect to include the child's income on the parent's return. 10 40 ez form If this election is made, the child does not have to file a return. 10 40 ez form See Parent's Election To Report Child's Interest and Dividends in chapter 31. 10 40 ez form Self-Employed Persons You are self-employed if you: Carry on a trade or business as a sole proprietor, Are an independent contractor, Are a member of a partnership, or Are in business for yourself in any other way. 10 40 ez form Self-employment can include work in addition to your regular full-time business activities, such as certain part-time work you do at home or in addition to your regular job. 10 40 ez form You must file a return if your gross income is at least as much as the filing requirement amount for your filing status and age (shown in Table 1-1). 10 40 ez form Also, you must file Form 1040 and Schedule SE (Form 1040), Self-Employment Tax, if: Your net earnings from self-employment (excluding church employee income) were $400 or more, or You had church employee income of $108. 10 40 ez form 28 or more. 10 40 ez form (See Table 1-3. 10 40 ez form ) Use Schedule SE (Form 1040) to figure your self-employment tax. 10 40 ez form Self-employment tax is comparable to the social security and Medicare tax withheld from an employee's wages. 10 40 ez form For more information about this tax, see Publication 334, Tax Guide for Small Business. 10 40 ez form Employees of foreign governments or international organizations. 10 40 ez form   If you are a U. 10 40 ez form S. 10 40 ez form citizen who works in the United States for an international organization, a foreign government, or a wholly owned instrumentality of a foreign government, and your employer is not required to withhold social security and Medicare taxes from your wages, you must include your earnings from services performed in the United States when figuring your net earnings from self-employment. 10 40 ez form Ministers. 10 40 ez form   You must include income from services you performed as a minister when figuring your net earnings from self-employment, unless you have an exemption from self-employment tax. 10 40 ez form This also applies to Christian Science practitioners and members of a religious order who have not taken a vow of poverty. 10 40 ez form For more information, see Publication 517, Social Security and Other Information for Members of the Clergy and Religious Workers. 10 40 ez form Table 1-2. 10 40 ez form 2013 Filing Requirements for Dependents See chapter 3 to find out if someone can claim you as a dependent. 10 40 ez form If your parents (or someone else) can claim you as a dependent, use this table to see if you must file a return. 10 40 ez form (See Table 1-3 for other situations when you must file. 10 40 ez form ) In this table, earned income includes salaries, wages, tips, and professional fees. 10 40 ez form It also includes taxable scholarship and fellowship grants. 10 40 ez form (See Scholarships and fellowships in chapter 12. 10 40 ez form ) Unearned income includes investment-type income such as taxable interest, ordinary dividends, and capital gain distributions. 10 40 ez form It also includes unemployment compensation, taxable social security benefits, pensions, annuities, cancellation of debt, and distributions of unearned income from a trust. 10 40 ez form Gross income is the total of your earned and unearned income. 10 40 ez form   Single dependents—Were you either age 65 or older or blind? □ No. 10 40 ez form You must file a return if any of the following apply. 10 40 ez form     • Your unearned income was more than $1,000. 10 40 ez form     • Your earned income was more than $6,100. 10 40 ez form     • Your gross income was more than the larger of:       • $1,000, or       • Your earned income (up to $5,750) plus $350. 10 40 ez form □ Yes. 10 40 ez form You must file a return if any of the following apply. 10 40 ez form     • Your unearned income was more than $2,500 ($4,000 if 65 or older and blind). 10 40 ez form     • Your earned income was more than $7,600 ($9,100 if 65 or older and blind). 10 40 ez form     • Your gross income was more than the larger of:       • $2,500 ($4,000 if 65 or older and blind), or       • Your earned income (up to $5,750) plus $1,850 ($3,350 if 65 or older and blind). 10 40 ez form Married dependents—Were you either age 65 or older or blind? □ No. 10 40 ez form You must file a return if any of the following apply. 10 40 ez form     • Your unearned income was more than $1,000. 10 40 ez form     • Your earned income was more than $6,100. 10 40 ez form     • Your gross income was at least $5 and your spouse files a separate return and itemizes deductions. 10 40 ez form     • Your gross income was more than the larger of:       • $1,000, or       • Your earned income (up to $5,750) plus $350. 10 40 ez form □ Yes. 10 40 ez form You must file a return if any of the following apply. 10 40 ez form     • Your unearned income was more than $2,200 ($3,400 if 65 or older and blind). 10 40 ez form     • Your earned income was more than $7,300 ($8,500 if 65 or older and blind). 10 40 ez form     • Your gross income was at least $5 and your spouse files a separate return and itemizes deductions. 10 40 ez form     • Your gross income was more than the larger of:       • $2,200 ($3,400 if 65 or older and blind), or       • Your earned income (up to $5,750) plus $1,550 ($2,750 if 65 or older and blind). 10 40 ez form Aliens Your status as an alien—resident, nonresident, or dual-status—determines whether and how you must file an income tax return. 10 40 ez form The rules used to determine your alien status are discussed in Publication 519, U. 10 40 ez form S. 10 40 ez form Tax Guide for Aliens. 10 40 ez form Resident alien. 10 40 ez form   If you are a resident alien for the entire year, you must file a tax return following the same rules that apply to U. 10 40 ez form S. 10 40 ez form citizens. 10 40 ez form Use the forms discussed in this publication. 10 40 ez form Nonresident alien. 10 40 ez form   If you are a nonresident alien, the rules and tax forms that apply to you are different from those that apply to U. 10 40 ez form S. 10 40 ez form citizens and resident aliens. 10 40 ez form See Publication 519 to find out if U. 10 40 ez form S. 10 40 ez form income tax laws apply to you and which forms you should file. 10 40 ez form Dual-status taxpayer. 10 40 ez form   If you are a resident alien for part of the tax year and a nonresident alien for the rest of the year, you are a dual-status taxpayer. 10 40 ez form Different rules apply for each part of the year. 10 40 ez form For information on dual-status taxpayers, see Publication 519. 10 40 ez form Table 1-3. 10 40 ez form Other Situations When You Must File a 2013 Return You must file a return if any of the four conditions below apply for 2013. 10 40 ez form 1. 10 40 ez form   You owe any special taxes, including any of the following. 10 40 ez form   a. 10 40 ez form Alternative minimum tax. 10 40 ez form   b. 10 40 ez form Additional tax on a qualified plan, including an individual retirement arrangement (IRA), or other tax-favored account. 10 40 ez form But if you are filing a return only because you owe this tax, you can file Form 5329 by itself. 10 40 ez form   c. 10 40 ez form Household employment taxes. 10 40 ez form But if you are filing a return only because you owe this tax, you can file Schedule H by itself. 10 40 ez form   d. 10 40 ez form Social security and Medicare tax on tips you did not report to your employer or on wages you received from an employer who did not withhold these taxes. 10 40 ez form   e. 10 40 ez form Recapture of first-time homebuyer credit. 10 40 ez form   f. 10 40 ez form Write-in taxes, including uncollected social security and Medicare or RRTA tax on tips you reported to your employer or on group-term life insurance and additional taxes on health savings accounts. 10 40 ez form   g. 10 40 ez form Recapture taxes. 10 40 ez form 2. 10 40 ez form   You (or your spouse, if filing jointly) received HSA, Archer MSA, or Medicare Advantage MSA distributions. 10 40 ez form 3. 10 40 ez form   You had net earnings from self-employment of at least $400. 10 40 ez form 4. 10 40 ez form   You had wages of $108. 10 40 ez form 28 or more from a church or qualified church-controlled organization that is exempt from employer social security and Medicare taxes. 10 40 ez form Who Should File Even if you do not have to file, you should file a federal income tax return to get money back if any of the following conditions apply. 10 40 ez form You had federal income tax withheld or made estimated tax payments. 10 40 ez form You qualify for the earned income credit. 10 40 ez form See chapter 36 for more information. 10 40 ez form You qualify for the additional child tax credit. 10 40 ez form See chapter 34 for more information. 10 40 ez form You qualify for the health coverage tax credit. 10 40 ez form See chapter 37 for more information. 10 40 ez form You qualify for the American opportunity credit. 10 40 ez form See chapter 35 for more information. 10 40 ez form You qualify for the credit for federal tax on fuels. 10 40 ez form See chapter 37 for more information. 10 40 ez form Which Form Should I Use? You must use one of three forms to file your return: Form 1040EZ, Form 1040A, or Form 1040. 10 40 ez form (But also see Does My Return Have To Be on Paper , later. 10 40 ez form ) See the discussion under Form 1040 for when you must use that form. 10 40 ez form Form 1040EZ Form 1040EZ is the simplest form to use. 10 40 ez form You can use Form 1040EZ if all of the following apply. 10 40 ez form    Your filing status is single or married filing jointly. 10 40 ez form If you were a nonresident alien at any time in 2013, your filing status must be married filing jointly. 10 40 ez form You (and your spouse if married filing a joint return) were under age 65 and not blind at the end of 2013. 10 40 ez form If you were born on January 1, 1949, you are considered to be age 65 at the end of 2013. 10 40 ez form You do not claim any dependents. 10 40 ez form Your taxable income is less than $100,000. 10 40 ez form Your income is only from wages, salaries, tips, unemployment compensation, Alaska Permanent Fund dividends, taxable scholarship and fellowship grants, and taxable interest of $1,500 or less. 10 40 ez form You do not claim any adjustments to income, such as a deduction for IRA contributions or student loan interest. 10 40 ez form You do not claim any credits other than the earned income credit. 10 40 ez form You do not owe any household employment taxes on wages you paid to a household employee. 10 40 ez form If you earned tips, they are included in boxes 5 and 7 of your Form W-2. 10 40 ez form You are not a debtor in a chapter 11 bankruptcy case filed after October 16, 2005. 10 40 ez form   You must meet all of these requirements to use Form 1040EZ. 10 40 ez form If you do not, you must use Form 1040A or Form 1040. 10 40 ez form Figuring tax. 10 40 ez form   On Form 1040EZ, you can use only the tax table to figure your income tax. 10 40 ez form You cannot use Form 1040EZ to report any other tax. 10 40 ez form Form 1040A If you do not qualify to use Form 1040EZ, you may be able to use Form 1040A. 10 40 ez form You can use Form 1040A if all of the following apply. 10 40 ez form    Your income is only from: Wages, salaries, and tips, Interest, Ordinary dividends (including Alaska Permanent Fund dividends), Capital gain distributions, IRA distributions, Pensions and annuities, Unemployment compensation, Taxable social security and railroad retirement benefits, and Taxable scholarship and fellowship grants. 10 40 ez form If you receive a capital gain distribution that includes unrecaptured section 1250 gain, section 1202 gain, or collectibles (28%) gain, you cannot use Form 1040A. 10 40 ez form You must use Form 1040. 10 40 ez form Your taxable income is less than $100,000. 10 40 ez form Your adjustments to income are for only the following items. 10 40 ez form Educator expenses. 10 40 ez form IRA deduction. 10 40 ez form Student loan interest deduction. 10 40 ez form Tuition and fees. 10 40 ez form You do not itemize your deductions. 10 40 ez form You claim only the following tax credits. 10 40 ez form The credit for child and dependent care expenses. 10 40 ez form (See chapter 32. 10 40 ez form ) The credit for the elderly or the disabled. 10 40 ez form (See chapter 33. 10 40 ez form ) The education credits. 10 40 ez form (See chapter 35. 10 40 ez form ) The retirement savings contribution credit. 10 40 ez form (See chapter 37. 10 40 ez form ) The child tax credit. 10 40 ez form (See chapter 34. 10 40 ez form ) The earned income credit. 10 40 ez form (See chapter 36. 10 40 ez form ) The additional child tax credit. 10 40 ez form (See chapter 34. 10 40 ez form ) You did not have an alternative minimum tax adjustment on stock you acquired from the exercise of an incentive stock option. 10 40 ez form (See Publication 525, Taxable and Nontaxable Income. 10 40 ez form )   You can also use Form 1040A if you received employer-provided dependent care benefits or if you owe tax from the recapture of an education credit or the alternative minimum tax. 10 40 ez form   You must meet all these requirements to use Form 1040A. 10 40 ez form If you do not, you must use Form 1040. 10 40 ez form Form 1040 If you cannot use Form 1040EZ or Form 1040A, you must use Form 1040. 10 40 ez form You can use Form 1040 to report all types of income, deductions, and credits. 10 40 ez form You may pay less tax by filing Form 1040 because you can take itemized deductions, some adjustments to income, and credits you cannot take on Form 1040A or Form 1040EZ. 10 40 ez form You must use Form 1040 if any of the following apply. 10 40 ez form    Your taxable income is $100,000 or more. 10 40 ez form You itemize your deductions on Schedule A. 10 40 ez form You had income that cannot be reported on Form 1040EZ or Form 1040A, including tax-exempt interest from private activity bonds issued after August 7, 1986. 10 40 ez form You claim any adjustments to gross income other than the adjustments listed earlier under Form 1040A. 10 40 ez form Your Form W-2, box 12, shows uncollected employee tax (social security and Medicare tax) on tips (see chapter 6) or group-term life insurance (see chapter 5). 10 40 ez form You received $20 or more in tips in any 1 month and did not report all of them to your employer. 10 40 ez form (See chapter 6. 10 40 ez form ) You were a bona fide resident of Puerto Rico and exclude income from sources in Puerto Rico. 10 40 ez form You claim any credits other than the credits listed earlier under Form 1040A. 10 40 ez form You owe the excise tax on insider stock compensation from an expatriated corporation. 10 40 ez form Your Form W-2 shows an amount in box 12 with a code Z. 10 40 ez form You had a qualified health savings account funding distribution from your IRA. 10 40 ez form You are an employee and your employer did not withhold social security and Medicare tax. 10 40 ez form You have to file other forms with your return to report certain exclusions, taxes, or transactions, such as Form 8959 or Form 8960. 10 40 ez form You are a debtor in a bankruptcy case filed after October 16, 2005. 10 40 ez form You must repay the first-time homebuyer credit. 10 40 ez form You have adjusted gross income of more than $150,000 and must reduce the dollar amount of your exemptions. 10 40 ez form Does My Return Have To Be on Paper? You may be able to file a paperless return using IRS e-file (electronic filing). 10 40 ez form If your 2013 adjusted gross income (AGI) is less than a certain amount, you are eligible for Free File. 10 40 ez form See your tax return instructions for details. 10 40 ez form If you do not qualify for Free File, then you should check out IRS. 10 40 ez form gov for low-cost e-file options or Free File Fillable Forms. 10 40 ez form IRS e-file Table 1-4 lists the benefits of IRS e-file. 10 40 ez form IRS e-file uses automation to replace most of the manual steps needed to process paper returns. 10 40 ez form As a result, the processing of e-file returns is faster and more accurate than the processing of paper returns. 10 40 ez form However, as with a paper return, you are responsible for making sure your return contains accurate information and is filed on time. 10 40 ez form Using e-file does not affect your chances of an IRS examination of your return. 10 40 ez form Free File Fillable Forms. 10 40 ez form   If you do not need the help of a tax preparer, then Free File Fillable Forms may be for you. 10 40 ez form These forms: Do not have an income requirement so everyone is eligible, Are easy to use, Perform basic math calculations, Are available only at IRS. 10 40 ez form gov, and Apply only to a federal tax return. 10 40 ez form Electronic return signatures. 10 40 ez form   To file your return electronically, you must sign the return electronically using a personal identification number (PIN). 10 40 ez form If you are filing online, you must use a Self-Select PIN. 10 40 ez form If you are filing electronically using a tax practitioner, you can use a Self-Select PIN or a Practitioner PIN. 10 40 ez form Self-Select PIN. 10 40 ez form   The Self-Select PIN method allows you to create your own PIN. 10 40 ez form If you are married filing jointly, you and your spouse will each need to create a PIN and enter these PINs as your electronic signatures. 10 40 ez form   A PIN is any combination of five digits you choose except five zeros. 10 40 ez form If you use a PIN, there is nothing to sign and nothing to mail—not even your Forms W-2. 10 40 ez form   To verify your identity, you will be prompted to enter your adjusted gross income (AGI) from your originally filed 2012 federal income tax return, if applicable. 10 40 ez form Do not use your AGI from an amended return (Form 1040X) or a math error correction made by the IRS. 10 40 ez form AGI is the amount shown on your 2012 Form 1040, line 38; Form 1040A, line 22; or Form 1040EZ, line 4. 10 40 ez form If you do not have your 2012 income tax return, you can quickly request a transcript by using our automated self-service tool. 10 40 ez form Visit us at IRS. 10 40 ez form gov and click on Order a Return or Account Transcript or call 1-800-908-9946 to get a free transcript of your return. 10 40 ez form (If you filed electronically last year, you may use your prior year PIN to verify your identity instead of your prior year AGI. 10 40 ez form The prior year PIN is the five digit PIN you used to electronically sign your 2012 return. 10 40 ez form ) You will also be prompted to enter your date of birth. 10 40 ez form Table 1-4. 10 40 ez form Benefits of IRS e-file • Free File allows qualified taxpayers to prepare and e-file their own tax returns for free. 10 40 ez form • Free File is available in English and Spanish. 10 40 ez form • Free File is available online 24 hours a day, 7 days a week. 10 40 ez form • Get your refund faster by e-filing using Direct Deposit. 10 40 ez form • Sign electronically with a secure self-selected PIN and file a completely paperless return. 10 40 ez form • Receive an acknowledgement that your return was received and accepted. 10 40 ez form • If you owe, you can e-file and pay electronically either online or by phone, using your bank account or a credit or debit card. 10 40 ez form You can also file a return early and pay the amount you owe by the due date of your return. 10 40 ez form • Save time by preparing and e-filing federal and state returns together. 10 40 ez form • IRS computers quickly and automatically check for errors or other missing information. 10 40 ez form • Help the environment, use less paper, and save taxpayer money—it costs less to process an e-filed return than a paper return. 10 40 ez form You cannot use the Self-Select PIN method if you are a first-time filer under age 16 at the end of 2013. 10 40 ez form If you cannot locate your prior year AGI or prior year PIN, use the Electronic Filing PIN Request. 10 40 ez form This can be found at IRS. 10 40 ez form gov. 10 40 ez form Click on Request an Electronic Filing PIN. 10 40 ez form Or you can call 1-866-704-7388. 10 40 ez form Practitioner PIN. 10 40 ez form   The Practitioner PIN method allows you to authorize your tax practitioner to enter or generate your PIN. 10 40 ez form The practitioner can provide you with details. 10 40 ez form Form 8453. 10 40 ez form   You must send in a paper Form 8453 if you have to attach certain forms or other documents that cannot be electronically filed. 10 40 ez form For details, see Form 8453. 10 40 ez form For more details, visit www. 10 40 ez form irs. 10 40 ez form gov/efile and click on “ Individuals. 10 40 ez form ” Identity Protection PIN. 10 40 ez form   If the IRS gave you an identity protection personal identification number (PIN) because you were a victim of identity theft, enter it in the spaces provided on your tax form. 10 40 ez form If the IRS has not given you this type of number, leave these spaces blank. 10 40 ez form For more information, see the Instructions for Form 1040A or Form 1040. 10 40 ez form Power of attorney. 10 40 ez form   If an agent is signing your return for you, a power of attorney (POA) must be filed. 10 40 ez form Attach the POA to Form 8453 and file it using that form's instructions. 10 40 ez form See Signatures , later, for more information on POAs. 10 40 ez form State returns. 10 40 ez form   In most states, you can file an electronic state return simultaneously with your federal return. 10 40 ez form For more information, check with your local IRS office, state tax agency, tax professional, or the IRS website at  www. 10 40 ez form irs. 10 40 ez form gov/efile. 10 40 ez form Refunds. 10 40 ez form   You can have a refund check mailed to you, or you can have your refund deposited directly to your checking or savings account or split among two or three accounts. 10 40 ez form With e-file, your refund will be issued faster than if you filed on paper. 10 40 ez form   As with a paper return, you may not get all of your refund if you owe certain past-due amounts, such as federal tax, state income tax, state unemployment compensation debts, child support, spousal support, or certain other federal nontax debts, such as student loans. 10 40 ez form See Offset against debts under Refunds, later. 10 40 ez form Refund inquiries. 10 40 ez form   Information about your return will generally be available within 24 hours after the IRS receives your e-filed return. 10 40 ez form See Refund Information , later. 10 40 ez form Amount you owe. 10 40 ez form   To avoid late-payment penalties and interest, pay your taxes in full by April 15, 2014. 10 40 ez form See How To Pay , later, for information on how to pay the amount you owe. 10 40 ez form Using Your Personal Computer You can file your tax return in a fast, easy, and convenient way using your personal computer. 10 40 ez form A computer with Internet access and tax preparation software are all you need. 10 40 ez form Best of all, you can e-file from the comfort of your home 24 hours a day, 7 days a week. 10 40 ez form IRS approved tax preparation software is available for online use on the Internet, for download from the Internet, and in retail stores. 10 40 ez form For information, visit www. 10 40 ez form irs. 10 40 ez form gov/efile. 10 40 ez form Through Employers and Financial Institutions Some businesses offer free e-file to their employees, members, or customers. 10 40 ez form Others offer it for a fee. 10 40 ez form Ask your employer or financial institution if they offer IRS e-file as an employee, member, or customer benefit. 10 40 ez form Free Help With Your Return Free help in preparing your return is available nationwide from IRS-trained volunteers. 10 40 ez form The Volunteer Income Tax Assistance (VITA) program is designed to help low to moderate income taxpayers and the Tax Counseling for the Elderly (TCE) program is designed to assist taxpayers age 60 or older with their tax returns. 10 40 ez form Many VITA sites offer free electronic filing and all volunteers will let you know about the credits and deductions you may be entitled to claim. 10 40 ez form To find a site near you, call 1-800-906-9887. 10 40 ez form Or to find the nearest AARP TaxAide site, visit AARP's website at www. 10 40 ez form aarp. 10 40 ez form org/taxaide or call 1-888-227-7669. 10 40 ez form For more information on these programs, go to IRS. 10 40 ez form gov and enter keyword “VITA” in the search box. 10 40 ez form Using a Tax Professional Many tax professionals electronically file tax returns for their clients. 10 40 ez form You may personally enter your PIN or complete Form 8879, IRS e-file Signature Authorization, to authorize the tax professional to enter your PIN on your return. 10 40 ez form Note. 10 40 ez form Tax professionals may charge a fee for IRS e-file. 10 40 ez form Fees can vary depending on the professional and the specific services rendered. 10 40 ez form When Do I Have To File? April 15, 2014, is the due date for filing your 2013 income tax return if you use the calendar year. 10 40 ez form For a quick view of due dates for filing a return with or without an extension of time to file (discussed later), see Table 1-5. 10 40 ez form Table 1-5. 10 40 ez form When To File Your 2013 Return For U. 10 40 ez form S. 10 40 ez form citizens and residents who file returns on a calendar year. 10 40 ez form   For Most Taxpayers For Certain Taxpayers Outside the U. 10 40 ez form S. 10 40 ez form No extension requested April 15, 2014 June 16, 2014 Automatic extension October 15, 2014 October 15, 2014 If you use a fiscal year (a year ending on the last day of any month except December, or a 52-53-week year), your income tax return is due by the 15th day of the 4th month after the close of your fiscal year. 10 40 ez form When the due date for doing any act for tax purposes—filing a return, paying taxes, etc. 10 40 ez form —falls on a Saturday, Sunday, or legal holiday, the due date is delayed until the next business day. 10 40 ez form Filing paper returns on time. 10 40 ez form   Your paper return is filed on time if it is mailed in an envelope that is properly addressed, has enough postage, and is postmarked by the due date. 10 40 ez form If you send your return by registered mail, the date of the registration is the postmark date. 10 40 ez form The registration is evidence that the return was delivered. 10 40 ez form If you send a return by certified mail and have your receipt postmarked by a postal employee, the date on the receipt is the postmark date. 10 40 ez form The postmarked certified mail receipt is evidence that the return was delivered. 10 40 ez form Private delivery services. 10 40 ez form   If you use a private delivery service designated by the IRS to send your return, the postmark date generally is the date the private delivery service records in its database or marks on the mailing label. 10 40 ez form The private delivery service can tell you how to get written proof of this date. 10 40 ez form   For the IRS mailing address to use if you are using a private delivery service, go to IRS. 10 40 ez form gov and enter “private delivery service” in the search box. 10 40 ez form   The following are designated private delivery services. 10 40 ez form DHL Express (DHL): Same Day Service. 10 40 ez form Federal Express (FedEx): FedEx Priority Overnight, FedEx Standard Overnight, FedEx 2Day, FedEx International Priority, and FedEx International First. 10 40 ez form United Parcel Service (UPS): UPS Next Day Air, UPS Next Day Air Saver, UPS 2nd Day Air, UPS 2nd Day Air A. 10 40 ez form M. 10 40 ez form , UPS Worldwide Express Plus, and UPS Worldwide Express. 10 40 ez form Filing electronic returns on time. 10 40 ez form   If you use IRS e-file, your return is considered filed on time if the authorized electronic return transmitter postmarks the transmission by the due date. 10 40 ez form An authorized electronic return transmitter is a participant in the IRS e-file program that transmits electronic tax return information directly to the IRS. 10 40 ez form   The electronic postmark is a record of when the authorized electronic return transmitter received the transmission of your electronically filed return on its host system. 10 40 ez form The date and time in your time zone controls whether your electronically filed return is timely. 10 40 ez form Filing late. 10 40 ez form   If you do not file your return by the due date, you may have to pay a failure-to-file penalty and interest. 10 40 ez form For more information, see Penalties , later. 10 40 ez form Also see Interest under Amount You Owe. 10 40 ez form   If you were due a refund but you did not file a return, you generally must file within 3 years from the date the return was due (including extensions) to get that refund. 10 40 ez form Nonresident alien. 10 40 ez form    If you are a nonresident alien and earn wages subject to U. 10 40 ez form S. 10 40 ez form income tax withholding, your 2013 U. 10 40 ez form S. 10 40 ez form income tax return (Form 1040NR or Form 1040NR-EZ) is due by: April 15, 2014, if you use a calendar year, or The 15th day of the 4th month after the end of your fiscal year if you use a fiscal year. 10 40 ez form   If you do not earn wages subject to U. 10 40 ez form S. 10 40 ez form income tax withholding, your return is due by: June 16, 2014, if you use a calendar year, or The 15th day of the 6th month after the end of your fiscal year, if you use a fiscal year. 10 40 ez form See Publication 519 for more filing information. 10 40 ez form Filing for a decedent. 10 40 ez form   If you must file a final income tax return for a taxpayer who died during the year (a decedent), the return is due by the 15th day of the 4th month after the end of the decedent's normal tax year. 10 40 ez form See Publication 559. 10 40 ez form Extensions of Time To File You may be able to get an extension of time to file your return. 10 40 ez form There are three types of situations where you may qualify for an extension: Automatic extensions, You are outside the United States, or You are serving in a combat zone. 10 40 ez form Automatic Extension If you cannot file your 2013 return by the due date, you may be able to get an automatic 6-month extension of time to file. 10 40 ez form Example. 10 40 ez form If your return is due on April 15, 2014, you will have until October 15, 2014, to file. 10 40 ez form If you do not pay the tax due by the regular due date (generally, April 15), you will owe interest. 10 40 ez form You may also be charged penalties, discussed later. 10 40 ez form How to get the automatic extension. 10 40 ez form   You can get the automatic extension by: Using IRS e-file (electronic filing), or Filing a paper form. 10 40 ez form E-file options. 10 40 ez form   There are two ways you can use e-file to get an extension of time to file. 10 40 ez form Complete Form 4868, Application for Automatic Extension of Time To File U. 10 40 ez form S. 10 40 ez form Individual Income Tax Return, to use as a worksheet. 10 40 ez form If you think you may owe tax when you file your return, use Part II of the form to estimate your balance due. 10 40 ez form If you e-file Form 4868 to the IRS, do not also send a paper Form 4868. 10 40 ez form E-file using your personal computer or a tax professional. 10 40 ez form    You can use a tax software package with your personal computer or a tax professional to file Form 4868 electronically. 10 40 ez form You will need to provide certain information from your tax return for 2012. 10 40 ez form If you wish to make a payment by direct transfer from your bank account, see Pay online , under How To Pay, later in this chapter. 10 40 ez form E-file and pay by credit or debit card or by direct transfer from your bank account. 10 40 ez form   You can get an extension by paying part or all of your estimate of tax due by using a credit or debit card or by direct transfer from your bank account. 10 40 ez form You can do this by phone or over the Internet. 10 40 ez form You do not file Form 4868. 10 40 ez form See Pay online , under How To Pay, later in this chapter. 10 40 ez form Filing a paper Form 4868. 10 40 ez form   You can get an extension of time to file by filing a paper Form 4868. 10 40 ez form Mail it to the address shown in the form instructions. 10 40 ez form   If you want to make a payment with the form, make your check or money order payable to “United States Treasury. 10 40 ez form ” Write your SSN, daytime phone number, and “2013 Form 4868” on your check or money order. 10 40 ez form When to file. 10 40 ez form   You must request the automatic extension by the due date for your return. 10 40 ez form You can file your return any time before the 6-month extension period ends. 10 40 ez form When you file your return. 10 40 ez form   Enter any payment you made related to the extension of time to file on Form 1040, line 68. 10 40 ez form If you file Form 1040EZ or Form 1040A, include that payment in your total payments on Form 1040EZ, line 9, or Form 1040A, line 41. 10 40 ez form Also enter “Form 4868” and the amount paid in the space to the left of line 9 or line 41. 10 40 ez form Individuals Outside the United States You are allowed an automatic 2-month extension, without filing Form 4868, (until June 16, 2014, if you use the calendar year) to file your 2013 return and pay any federal income tax due if: You are a U. 10 40 ez form S. 10 40 ez form citizen or resident, and On the due date of your return: You are living outside the United States and Puerto Rico, and your main place of business or post of duty is outside the United States and Puerto Rico, or You are in military or naval service on duty outside the United States and  Puerto Rico. 10 40 ez form However, if you pay the tax due after the regular due date (generally, April 15), interest will be charged from that date until the date the tax is paid. 10 40 ez form If you served in a combat zone or qualified hazardous duty area, you may be eligible for a longer extension of time to file. 10 40 ez form See Individuals Serving in Combat Zone , later, for special rules that apply to you. 10 40 ez form Married taxpayers. 10 40 ez form   If you file a joint return, only one spouse has to qualify for this automatic extension. 10 40 ez form If you and your spouse file separate returns, this automatic extension applies only to the spouse who qualifies. 10 40 ez form How to get the extension. 10 40 ez form   To use this automatic extension, you must attach a statement to your return explaining what situation qualified you for the extension. 10 40 ez form (See the situations listed under (2), earlier. 10 40 ez form ) Extensions beyond 2 months. 10 40 ez form   If you cannot file your return within the automatic 2-month extension period, you may be able to get an additional 4-month extension, for a total of 6 months. 10 40 ez form File Form 4868 and check the box on line 8. 10 40 ez form No further extension. 10 40 ez form   An extension of more than 6 months will generally not be granted. 10 40 ez form However, if you are outside the United States and meet certain tests, you may be granted a longer extension. 10 40 ez form For more information, see When To File and Pay in Publication 54. 10 40 ez form Individuals Serving in Combat Zone The deadline for filing your tax return, paying any tax you may owe, and filing a claim for refund is automatically extended if you serve in a combat zone. 10 40 ez form This applies to members of the Armed Forces, as well as merchant marines serving aboard vessels under the operational control of the Department of Defense, Red Cross personnel, accredited correspondents, and civilians under the direction of the Armed Forces in support of the Armed Forces. 10 40 ez form Combat zone. 10 40 ez form   For purposes of the automatic extension, the term “combat zone” includes the following areas. 10 40 ez form The Arabian peninsula area, effective January 17, 1991. 10 40 ez form The Kosovo area, effective March 24, 1999. 10 40 ez form Afghanistan area, effective September 19, 2001. 10 40 ez form   See Publication 3, Armed Forces' Tax Guide, for more detailed information on the locations comprising each combat zone. 10 40 ez form The publication also has information about other tax benefits available to military personnel serving in a combat zone. 10 40 ez form Extension period. 10 40 ez form   The deadline for filing your return, paying any tax due, and filing a claim for refund is extended for at least 180 days after the later of: The last day you are in a combat zone or the last day the area qualifies as a combat zone, or The last day of any continuous qualified hospitalization for injury from service in the combat zone. 10 40 ez form   In addition to the 180 days, your deadline is also extended by the number of days you had left to take action with the IRS when you entered the combat zone. 10 40 ez form For example, you have 3½ months (January 1 – April 15) to file your tax return. 10 40 ez form Any days left in this period when you entered the combat zone (or the entire 3½ months if you entered it before the beginning of the year) are added to the 180 days. 10 40 ez form See Extension of Deadlines in Publication 3 for more information. 10 40 ez form   The rules on the extension for filing your return also apply when you are deployed outside the United States (away from your permanent duty station) while participating in a designated contingency operation. 10 40 ez form How Do I Prepare My Return? This section explains how to get ready to fill in your tax return and when to report your income and expenses. 10 40 ez form It also explains how to complete certain sections of the form. 10 40 ez form You may find Table 1-6 helpful when you prepare your paper return. 10 40 ez form Table 1-6. 10 40 ez form Six Steps for Preparing Your Paper Return 1 — Get your records together for income and expenses. 10 40 ez form 2 — Get the forms, schedules, and publications you need. 10 40 ez form 3 — Fill in your return. 10 40 ez form 4 — Check your return to make sure it is correct. 10 40 ez form 5 — Sign and date your return. 10 40 ez form 6 — Attach all required forms and schedules. 10 40 ez form Electronic returns. 10 40 ez form   For information you may find useful in preparing a paperless return, see Does My Return Have To Be on Paper , earlier. 10 40 ez form Substitute tax forms. 10 40 ez form   You cannot use your own version of a tax form unless it meets the requirements explained in Publication 1167, General Rules and Specifications for Substitute Forms and Schedules. 10 40 ez form Form W-2. 10 40 ez form   If you were an employee, you should receive Form W-2 from your employer. 10 40 ez form You will need the information from this form to prepare your return. 10 40 ez form See Form W-2 under Credit for Withholding and Estimated Tax in chapter 4. 10 40 ez form   Your employer is required to provide or send Form W-2 to you no later than January 31, 2014. 10 40 ez form If it is mailed, you should allow adequate time to receive it before contacting your employer. 10 40 ez form If you still do not get the form by February 15, the IRS can help you by requesting the form from your employer. 10 40 ez form When you request IRS help, be prepared to provide the following information. 10 40 ez form Your name, address (including ZIP code), and phone number. 10 40 ez form Your SSN. 10 40 ez form Your dates of employment. 10 40 ez form Your employer's name, address (including ZIP code), and phone number. 10 40 ez form Form 1099. 10 40 ez form   If you received certain types of income, you may receive a Form 1099. 10 40 ez form For example, if you received taxable interest of $10 or more, the payer is required to provide or send Form 1099 to you no later than January 31, 2014 (or by February 18, 2014, if furnished by a broker). 10 40 ez form If it is mailed, you should allow adequate time to receive it before contacting the payer. 10 40 ez form If you still do not get the form by February 18 (or by March 5, 2014, if furnished by a broker), call the IRS for help. 10 40 ez form When Do I Report My Income and Expenses? You must figure your taxable income on the basis of a tax year. 10 40 ez form A “tax year” is an annual accounting period used for keeping records and reporting income and expenses. 10 40 ez form You must account for your income and expenses in a way that clearly shows your taxable income. 10 40 ez form The way you do this is called an accounting method. 10 40 ez form This section explains which accounting periods and methods you can use. 10 40 ez form Accounting Periods Most individual tax returns cover a calendar year—the 12 months from January 1 through December 31. 10 40 ez form If you do not use a calendar year, your accounting period is a fiscal year. 10 40 ez form A regular fiscal year is a 12-month period that ends on the last day of any month except December. 10 40 ez form A 52-53-week fiscal year varies from 52 to 53 weeks and always ends on the same day of the week. 10 40 ez form You choose your accounting period (tax year) when you file your first income tax return. 10 40 ez form It cannot be longer than 12 months. 10 40 ez form More information. 10 40 ez form   For more information on accounting periods, including how to change your accounting period, see Publication 538, Accounting Periods and Methods. 10 40 ez form Accounting Methods Your accounting method is the way you account for your income and expenses. 10 40 ez form Most taxpayers use either the cash method or an accrual method. 10 40 ez form You choose a method when you file your first income tax return. 10 40 ez form If you want to change your accounting method after that, you generally must get IRS approval. 10 40 ez form Cash method. 10 40 ez form   If you use this method, report all items of income in the year in which you actually or constructively receive them. 10 40 ez form Generally, you deduct all expenses in the year you actually pay them. 10 40 ez form This is the method most individual taxpayers use. 10 40 ez form Constructive receipt. 10 40 ez form   Generally, you constructively receive income when it is credited to your account or set apart in any way that makes it available to you. 10 40 ez form You do not need to have physical possession of it. 10 40 ez form For example, interest credited to your bank account on December 31, 2013, is taxable income to you in 2013 if you could have withdrawn it in 2013 (even if the amount is not entered in your records or withdrawn until 2014). 10 40 ez form Garnisheed wages. 10 40 ez form   If your employer uses your wages to pay your debts, or if your wages are attached or garnisheed, the full amount is constructively received by you. 10 40 ez form You must include these wages in income for the year you would have received them. 10 40 ez form Debts paid for you. 10 40 ez form   If another person cancels or pays your debts (but not as a gift or loan), you have constructively received the amount and generally must include it in your gross income for the year. 10 40 ez form See Canceled Debts in chapter 12 for more information. 10 40 ez form Payment to third party. 10 40 ez form   If a third party is paid income from property you own, you have constructively received the income. 10 40 ez form It is the same as if you had actually received the income and paid it to the third party. 10 40 ez form Payment to an agent. 10 40 ez form   Income an agent receives for you is income you constructively received in the year the agent receives it. 10 40 ez form If you indicate in a contract that your income is to be paid to another person, you must include the amount in your gross income when the other person receives it. 10 40 ez form Check received or available. 10 40 ez form   A valid check that was made available to you before the end of the tax year is constructively received by you in that year. 10 40 ez form A check that was “made available to you” includes a check you have already received, but not cashed or deposited. 10 40 ez form It also includes, for example, your last paycheck of the year that your employer made available for you to pick up at the office before the end of the year. 10 40 ez form It is constructively received by you in that year whether or not you pick it up before the end of the year or wait to receive it by mail after the end of the year. 10 40 ez form No constructive receipt. 10 40 ez form   There may be facts to show that you did not constructively receive income. 10 40 ez form Example. 10 40 ez form Alice Johnson, a teacher, agreed to her school board's condition that, in her absence, she would receive only the difference between her regular salary and the salary of a substitute teacher hired by the school board. 10 40 ez form Therefore, Alice did not constructively receive the amount by which her salary was reduced to pay the substitute teacher. 10 40 ez form Accrual method. 10 40 ez form   If you use an accrual method, you generally report income when you earn it, rather than when you receive it. 10 40 ez form You generally deduct your expenses when you incur them, rather than when you pay them. 10 40 ez form Income paid in advance. 10 40 ez form   An advance payment of income is generally included in gross income in the year you receive it. 10 40 ez form Your method of accounting does not matter as long as the income is available to you. 10 40 ez form An advance payment may include rent or interest you receive in advance and pay for services you will perform later. 10 40 ez form   A limited deferral until the next tax year may be allowed for certain advance payments. 10 40 ez form See Publication 538 for specific information. 10 40 ez form Additional information. 10 40 ez form   For more information on accounting methods, including how to change your accounting method, see Publication 538. 10 40 ez form Social Security Number (SSN) You must enter your SSN on your return. 10 40 ez form If you are married, enter the SSNs for both you and your spouse, whether you file jointly or separately. 10 40 ez form If you are filing a joint return, include the SSNs in the same order as the names. 10 40 ez form Use this same order in submitting other forms and documents to the IRS. 10 40 ez form Check that both the name and SSN on your Form 1040, W-2, and 1099 agree with your social security card. 10 40 ez form If they do not, certain deductions and credits on your Form 1040 may be reduced or disallowed and you may not receive credit for your social security earnings. 10 40 ez form If your Form W-2 shows an incorrect SSN or name, notify your employer or the form-issuing agent as soon as possible to make sure your earnings are credited to your social security record. 10 40 ez form If the name or SSN on your social security card is incorrect, call the SSA at 1-800-772-1213. 10 40 ez form Name change. 10 40 ez form   If you changed your name because of marriage, divorce, etc. 10 40 ez form , be sure to report the change to your local Social Security Administration (SSA) office before filing your return. 10 40 ez form This prevents delays in processing your return and issuing refunds. 10 40 ez form It also safeguards your future social security benefits. 10 40 ez form Dependent's SSN. 10 40 ez form   You must provide the SSN of each dependent you claim, regardless of the dependent's age. 10 40 ez form This requirement applies to all dependents (not just your children) claimed on your tax return. 10 40 ez form Exception. 10 40 ez form    If your child was born and died in 2013 and did not have an SSN, enter “DIED” in column (2) of line 6c (Form 1040 or 1040A) and include a copy of the child's birth certificate, death certificate, or hospital records. 10 40 ez form The document must show that the child was born alive. 10 40 ez form No SSN. 10 40 ez form   File Form SS-5, Application for a Social Security Card, with your local SSA office to get an SSN for yourself or your dependent. 10 40 ez form It usually takes about 2 weeks to get an SSN. 10 40 ez form If you or your dependent is not eligible for an SSN, see Individual taxpayer identification number (ITIN) , later. 10 40 ez form   If you are a U. 10 40 ez form S. 10 40 ez form citizen or resident alien, you must show proof of age, identity, and citizenship or alien status with your Form SS-5. 10 40 ez form If you are 12 or older and have never been assigned an SSN, you must appear in person with this proof at an SSA office. 10 40 ez form   Form SS-5 is available at any SSA office, on the Internet at www. 10 40 ez form socialsecurity. 10 40 ez form gov, or by calling 1-800-772-1213. 10 40 ez form If you have any questions about which documents you can use as proof of age, identity, or citizenship, contact your SSA office. 10 40 ez form   If your dependent does not have an SSN by the time your return is due, you may want to ask for an extension of time to file, as explained earlier under When Do I Have To File . 10 40 ez form   If you do not provide a required SSN or if you provide an incorrect SSN, your tax may be increased and any refund may be reduced. 10 40 ez form Adoption taxpayer identification number (ATIN). 10 40 ez form   If you are in the process of adopting a child who is a U. 10 40 ez form S. 10 40 ez form citizen or resident and cannot get an SSN for the child until the adoption is final, you can apply for an ATIN to use instead of an SSN. 10 40 ez form    File Form W-7A, Application for Taxpayer Identification Number for Pending U. 10 40 ez form S. 10 40 ez form Adoptions, with the IRS to get an ATIN if all of the following are true. 10 40 ez form You have a child living with you who was placed in your home for legal adoption. 10 40 ez form You cannot get the child's existing SSN even though you have made a reasonable attempt to get it from the birth parents, the placement agency, and other persons. 10 40 ez form You cannot get an SSN for the child from the SSA because, for example, the adoption is not final. 10 40 ez form You are eligible to claim the child as a dependent on your tax return. 10 40 ez form After the adoption is final, you must apply for an SSN for the child. 10 40 ez form You cannot continue using the ATIN. 10 40 ez form   See Form W-7A for more information. 10 40 ez form Nonresident alien spouse. 10 40 ez form   If your spouse is a nonresident alien, your spouse must have either an SSN or an ITIN if: You file a joint return, You file a separate return and claim an exemption for your spouse, or Your spouse is filing a separate return. 10 40 ez form If your spouse is not eligible for an SSN, see the following discussion on ITINs. 10 40 ez form Individual taxpayer identification number (ITIN). 10 40 ez form   The IRS will issue you an ITIN if you are a nonresident or resident alien and you do not have and are not eligible to get an SSN. 10 40 ez form This also applies to an alien spouse or dependent. 10 40 ez form To apply for an ITIN, file Form W-7 with the IRS. 10 40 ez form It usually takes about 6 to 10 weeks to get an ITIN. 10 40 ez form Enter the ITIN on your tax return wherever an SSN is requested. 10 40 ez form    If you are applying for an ITIN for yourself, your spouse, or a dependent in order to file your tax return, attach your completed tax return to your Form W-7. 10 40 ez form See the Form W-7 instructions for how and where to file. 10 40 ez form You cannot e-file a return using an ITIN in the calendar year the ITIN is issued; however, you can e-file returns in the following years. 10 40 ez form ITIN for tax use only. 10 40 ez form   An ITIN is for tax use only. 10 40 ez form It does not entitle you or your dependent to social security benefits or change the employment or immigration status of either of you under U. 10 40 ez form S. 10 40 ez form law. 10 40 ez form Penalty for not providing social security number. 10 40 ez form   If you do not include your SSN or the SSN of your spouse or dependent as required, you may have to pay a penalty. 10 40 ez form See the discussion on Penalties , later, for more information. 10 40 ez form SSN on correspondence. 10 40 ez form   If you write to the IRS about your tax account, be sure to include your SSN (and the name and SSN of your spouse, if you filed a joint return) in your correspondence. 10 40 ez form Because your SSN is used to identify your account, this helps the IRS respond to your correspondence promptly. 10 40 ez form Presidential Election Campaign Fund This fund helps pay for Presidential election campaigns. 10 40 ez form If you want $3 to go to this fund, check the box. 10 40 ez form If you are filing a joint return, your spouse can also have $3 go to the fund. 10 40 ez form If you check a box, your tax or refund will not change. 10 40 ez form Computations The following information may be useful in making the return easier to complete. 10 40 ez form Rounding off dollars. 10 40 ez form   You can round off cents to whole dollars on your return and schedules. 10 40 ez form If you do round to whole dollars, you must round all amounts. 10 40 ez form To round, drop amounts under 50 cents and increase amounts from 50 to 99 cents to the next dollar. 10 40 ez form For example, $1. 10 40 ez form 39 becomes $1 and $2. 10 40 ez form 50 becomes $3. 10 40 ez form   If you have to add two or more amounts to figure the amount to enter on a line, include cents when adding the amounts and round off only the total. 10 40 ez form Example. 10 40 ez form You receive two Forms W-2: one showing wages of $5,000. 10 40 ez form 55 and one showing wages of $18,500. 10 40 ez form 73. 10 40 ez form On Form 1040, line 7, you would enter $23,501 ($5,000. 10 40 ez form 55 + $18,500. 10 40 ez form 73 = $23,501. 10 40 ez form 28), not $23,502 ($5,001 + $18,501). 10 40 ez form Equal amounts. 10 40 ez form   If you are asked to enter the smaller or larger of two equal amounts, enter that amount. 10 40 ez form Example. 10 40 ez form Line 1 is $500. 10 40 ez form Line 3 is $500. 10 40 ez form Line 5 asks you to enter the smaller of line 1 or 3. 10 40 ez form Enter $500 on line 5. 10 40 ez form Negative amounts. 10 40 ez form   If you file a paper return and you need to enter a negative amount, put the amount in parentheses rather than using a minus sign. 10 40 ez form To combine positive and negative amounts, add all the positive amounts together and then subtract the negative amounts. 10 40 ez form Attachments Depending on the form you file and the items reported on your return, you may have to complete additional schedules and forms and attach them to your paper return. 10 40 ez form You may be able to file a paperless return using IRS e-file. 10 40 ez form There's nothing to attach or mail, not even your Forms W-2. 10 40 ez form See Does My Return Have To Be on Paper, earlier. 10 40 ez form Form W-2. 10 40 ez form   Form W-2 is a statement from your employer of wages and other compensation paid to you and taxes withheld from your pay. 10 40 ez form You should have a Form W-2 from each employer. 10 40 ez form If you file a paper return, be sure to attach a copy of Form W-2 in the place indicated on the front page of your return. 10 40 ez form Attach it to the front page of your paper return, not to any attachments. 10 40 ez form For more information, see Form W-2 in chapter 4. 10 40 ez form   If you received a Form 1099-R, Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. 10 40 ez form , showing federal income tax withheld, and you file a paper return, attach a copy of that form in the place indicated on the front page of your return. 10 40 ez form Form 1040EZ. 10 40 ez form   There are no additional schedules to file with Form 1040EZ. 10 40 ez form Form 1040A. 10 40 ez form   If you file a paper return, attach any forms and schedules behind Form 1040A in order of the “Attachment Sequence Number” shown in the upper right corner of the form or schedule. 10 40 ez form Then arrange all other statements or attachments in the same order as the forms and schedules they relate to and attach them last. 10 40 ez form Do not attach items unless required to do so. 10 40 ez form Form 1040. 10 40 ez form   If you file a paper return, attach any forms and schedules behind Form 1040 in order of the “Attachment Sequence Number” shown in the upper right corner of the form or schedule. 10 40 ez form Then arrange all other statements or attachments in the same order as the forms and schedules they relate to and attach them last. 10 40 ez form Do not attach items unless required to do so. 10 40 ez form Third Party Designee You can authorize the IRS to discuss your return with your preparer, a friend, family member, or any other person you choose. 10 40 ez form If you check the “Yes” box in the Third party designee area of your 2013 tax return and provide the information required, you are authorizing: The IRS to call the designee to answer any questions that arise during the processing of your return, and The designee to: Give information that is missing from your return to the IRS, Call the IRS for information about th
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Health Insurance

Learn about your health insurance options. Get information about the Health Insurance Marketplace, Medicare, Medicaid, and other programs to help you pay for your medical expenses.

Health Insurance Overview

Health care is expensive and few individuals can afford to pay the full costs. Having health insurance allows you to get the treatment you need without incurring huge medical bills. 

Most Americans have private health insurance or participate in public programs, such as Medicare or Medicaid, but many Americans are uninsured due to finances and/or pre-existing conditions.

Under the Affordable Care Act, all Americans will be able to get health insurance regardless of income or health history.

Affordable Care Act

The Affordable Care Act allows all Americans to get comprehensive health insurance and offers new rights and protections. Some provisions of the law have already taken effect while others will be implemented in the coming years.

You can now enroll in health insurance through your state's Health Insurance Marketplace. The Marketplace can help you compare plans and find one that fits your needs and budget.

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Medicaid

States decide on the benefits provided under Medicaid, but Medicaid usually provides health care for low-income children and families, and people with disabilities. Covered services usually include doctor visits, hospital care, vaccinations, prescription drugs, vision, hearing, long-term care, and preventive care for children.

  • State Medicaid Programs – Learn about the Medicaid program in your state, and how to apply. Note that if you're not eligible for Medicaid now, you may qualify in 2014, when new rules take effect in most states. 
  • Medicaid and the Health Insurance Marketplace – If you are eligible for Medicaid, you don't need to buy coverage through the Health Insurance Marketplace.

Medicare

Medicare is a government health insurance plan for people 65 or older, people under 65 with certain disabilities, and people with end-stage renal disease. Medicare helps to pay for care in hospitals, skilled nursing facilities, hospice care, and some home health care. Coverage can also include doctors’ services and prescription drugs.

Under the health care law, Medicare benefits have been expanded for preventive care and drug coverage. Medicare is not part of the Health Insurance Marketplace, so—if you have Medicare—you will not need to take any action as a result of the new Marketplace. 

  • Medicare – Learn about the Medicare program; enroll online; and find a Medicare-enrolled doctor or health care facility.
  • Replace Your Medicare Card – If your Medicare card is lost, stolen, or damaged, you can ask for a new one online.

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COBRA: Keep Your Insurance If You Leave Your Job

The Consolidated Omnibus Budget Reconciliation Act (COBRA) can help you temporarily keep your health insurance even though you left your job. Eligibility for the program is based on the reason you left your job, and even if you get to keep your insurance, you may be required to pay the entire premium for coverage.

  • COBRA – Learn more about the costs and benefits of the COBRA program.
  • An Employee's Guide to Health Benefits Under COBRA – This booklet explains your rights under COBRA to a temporary extension of employer-provided group health coverage, called COBRA continuation coverage.

Starting in 2014, you may change from COBRA coverage to Marketplace health insurance coverage. Losing your COBRA coverage qualifies you to buy health insurance in the Marketplace, even if it's not during open enrollment. This is true whether your coverage runs out, or you choose to end it.

Health Insurance for Children: CHIP

The Children’s Health Insurance Program (CHIP) provides free or low-cost health coverage for low-income children. Each state decides on the benefits provided under CHIP, but all states cover routine check-ups, immunizations, hospital care, dental care, and lab and x-ray services.

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How to Appeal a Health Insurance Claim

If your health insurer has denied coverage for medical care you received, you have the right to appeal the claim, and ask that the company reverse that decision. You can be your own health care advocate. Follow these five steps:

  1. Review your policy and explanation of benefits.
  2. Contact your insurer and keep detailed records of your contacts (copies of letters, time and date of conversations).
  3. Request documentation from your doctor or employer to support your case.
  4. Write a formal complaint letter explaining what care was denied and why you are appealing through use of the company's internal review process.
  5. If the internal appeal is not granted through step four, file a claim with your state's insurance department.

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The 10 40 Ez Form

10 40 ez form 16. 10 40 ez form   Reporting Gains and Losses Table of Contents What's New Introduction Useful Items - You may want to see: Reporting Capital Gains and Losses Exception 1. 10 40 ez form Exception 2. 10 40 ez form File Form 1099-B or Form 1099-S with the IRS. 10 40 ez form Capital Losses Capital Gain Tax Rates What's New Maximum capital gain rates. 10 40 ez form . 10 40 ez form  For 2013, the maximum capital gain rates are 0%, 15%, 20%, 25%, and 28%. 10 40 ez form Introduction This chapter discusses how to report capital gains and losses from sales, exchanges, and other dispositions of investment property on Form 8949 and Schedule D (Form 1040). 10 40 ez form The discussion includes the following topics. 10 40 ez form How to report short-term gains and losses. 10 40 ez form How to report long-term gains and losses. 10 40 ez form How to figure capital loss carryovers. 10 40 ez form How to figure your tax on a net capital gain. 10 40 ez form If you sell or otherwise dispose of property used in a trade or business or for the production of income, see Publication 544, Sales and Other Dispositions of Assets, before completing Schedule D (Form 1040). 10 40 ez form Useful Items - You may want to see: Publication 537 Installment Sales 544 Sales and Other Dispositions of Assets 550 Investment Income and Expenses Form (and Instructions) 4797 Sales of Business Property 6252 Installment Sale Income 8582 Passive Activity Loss Limitations 8949 Sales and Other Dispositions of Capital Assets Schedule D (Form 1040) Capital Gains and Losses Reporting Capital Gains and Losses Generally, report capital gains and losses on Form 8949. 10 40 ez form Complete Form 8949 before you complete line 1b, 2, 3, 8b, 9, or 10 of Schedule D (Form 1040). 10 40 ez form Use Form 8949 to report: The sale or exchange of a capital asset not reported on another form or schedule; Gains from involuntary conversions (other than from casualty or theft) of capital assets not held for business or profit; and Nonbusiness bad debts. 10 40 ez form Use Schedule D (Form 1040): To figure the overall gain or loss from transactions reported on Form 8949; To report a gain from Form 6252 or Part I of Form 4797; To report a gain or loss from Form 4684, 6781, or 8824; To report capital gain distributions not reported directly on Form 1040 or Form 1040A; To report a capital loss carryover from the previous tax year to the current tax year; To report your share of a gain or (loss) from a partnership, S corporation, estate, or trust; To report transactions reported to you on a Form 1099-B (or substitute statement) showing basis was reported to the IRS and to which none of the Form 8949 adjustments or codes apply; and To report undistributed long-term capital gains from Form 2439. 10 40 ez form On Form 8949, enter all sales and exchanges of capital assets, including stocks, bonds, etc. 10 40 ez form , and real estate (if not reported on Form 4684, 4797, 6252, 6781, 8824, or line 1a or 8a of Schedule D). 10 40 ez form Include these transactions even if you did not receive a Form 1099-B or 1099-S (or substitute statement) for the transaction. 10 40 ez form Report short-term gains or losses in Part I. 10 40 ez form Report long-term gains or losses in Part II. 10 40 ez form Use as many Forms 8949 as you need. 10 40 ez form Exceptions to filing Form 8949 and Schedule D (Form 1040). 10 40 ez form   There are certain situations where you may not have to file Form 8949 and/or Schedule D (Form 1040). 10 40 ez form Exception 1. 10 40 ez form   You do not have to file Form 8949 or Schedule D (Form 1040) if you have no capital losses and your only capital gains are capital gain distributions from Form(s) 1099-DIV, box 2a (or substitute statements). 10 40 ez form (If any Form(s) 1099-DIV (or substitute statements) you receive have an amount in box 2b (unrecaptured section 1250 gain), box 2c (section 1202 gain), or box 2d (collectibles (28%) gain), you do not qualify for this exception. 10 40 ez form ) If you qualify for this exception, report your capital gain distributions directly on line 13 of Form 1040 (and check the box on line 13). 10 40 ez form Also use the Qualified Dividends and Capital Gain Tax Worksheet in the Form 1040 instructions to figure your tax. 10 40 ez form You can report your capital gain distributions on line 10 of Form 1040A, instead of on Form 1040, if none of the Forms 1099-DIV (or substitute statements) you received have an amount in box 2b, 2c, or 2d, and you do not have to file Form 1040. 10 40 ez form Exception 2. 10 40 ez form   You must file Schedule D (Form 1040), but generally do not have to file Form 8949, if Exception 1 does not apply and your only capital gains and losses are: Capital gain distributions; A capital loss carryover; A gain from Form 2439 or 6252 or Part I of Form 4797; A gain or loss from Form 4684, 6781, or 8824; A gain or loss from a partnership, S corporation, estate, or trust; or Gains and losses from transactions for which you received a Form 1099-B (or substitute statement) that shows the basis was reported to the IRS and for which you do not need to make any adjustments in column (g) of Form 8949 or enter any codes in column (f) of Form 8949. 10 40 ez form Installment sales. 10 40 ez form   You cannot use the installment method to report a gain from the sale of stock or securities traded on an established securities market. 10 40 ez form You must report the entire gain in the year of sale (the year in which the trade date occurs). 10 40 ez form Passive activity gains and losses. 10 40 ez form    If you have gains or losses from a passive activity, you may also have to report them on Form 8582. 10 40 ez form In some cases, the loss may be limited under the passive activity rules. 10 40 ez form Refer to Form 8582 and its instructions for more information about reporting capital gains and losses from a passive activity. 10 40 ez form Form 1099-B transactions. 10 40 ez form   If you sold property, such as stocks, bonds, or certain commodities, through a broker, you should receive Form 1099-B or substitute statement from the broker. 10 40 ez form Use the Form 1099-B or the substitute statement to complete Form 8949. 10 40 ez form If you sold a covered security in 2013, your broker should send you a Form 1099-B (or substitute statement) that shows your basis. 10 40 ez form This will help you complete Form 8949. 10 40 ez form Generally, a covered security is a security you acquired after 2010. 10 40 ez form   Report the gross proceeds shown in box 2a of Form 1099-B as the sales price in column (d) of either Part I or Part II of Form 8949, whichever applies. 10 40 ez form However, if the broker advises you, in box 2a of Form 1099-B, that gross proceeds (sales price) less commissions and option premiums were reported to the IRS, enter that net sales price in column (d) of either Part I or Part II of Form 8949, whichever applies. 10 40 ez form    Include in column (g) any expense of sale, such as broker's fees, commissions, state and local transfer taxes, and option premiums, unless you reported the net sales price in column (d). 10 40 ez form If you include an expense of sale in column (g), enter “E” in column (f). 10 40 ez form Form 1099-CAP transactions. 10 40 ez form   If a corporation in which you own stock has had a change in control or a substantial change in capital structure, you should receive Form 1099-CAP or a substitute statement from the corporation. 10 40 ez form Use the Form 1099-CAP or substitute statement to fill in Form 8949. 10 40 ez form If your computations show that you would have a loss because of the change, do not enter any amounts on Form 8949 or Schedule D (Form 1040). 10 40 ez form You cannot claim a loss on Schedule D (Form 1040) as a result of this transaction. 10 40 ez form   Report the aggregate amount received shown in box 2 of Form 1099-CAP as the sales price in column (d) of either Part I or Part II of Form 8949, whichever applies. 10 40 ez form Form 1099-S transactions. 10 40 ez form   If you sold or traded reportable real estate, you generally should receive from the real estate reporting person a Form 1099-S showing the gross proceeds. 10 40 ez form    “Reportable real estate” is defined as any present or future ownership interest in any of the following: Improved or unimproved land, including air space; Inherently permanent structures, including any residential, commercial, or industrial building; A condominium unit and its accessory fixtures and common elements, including land; and Stock in a cooperative housing corporation (as defined in section 216 of the Internal Revenue Code). 10 40 ez form   A “real estate reporting person” could include the buyer's attorney, your attorney, the title or escrow company, a mortgage lender, your broker, the buyer's broker, or the person acquiring the biggest interest in the property. 10 40 ez form   Your Form 1099-S will show the gross proceeds from the sale or exchange in box 2. 10 40 ez form See the Instructions for Form 8949 and the Instructions for Schedule D (Form 1040) for how to report these transactions and include them in Part I or Part II of Form 8949 as appropriate. 10 40 ez form However, report like-kind exchanges on Form 8824 instead. 10 40 ez form   It is unlawful for any real estate reporting person to separately charge you for complying with the requirement to file Form 1099-S. 10 40 ez form Nominees. 10 40 ez form   If you receive gross proceeds as a nominee (that is, the gross proceeds are in your name but actually belong to someone else), see the Instructions for Form 8949 for how to report these amounts on Form 8949. 10 40 ez form File Form 1099-B or Form 1099-S with the IRS. 10 40 ez form   If you received gross proceeds as a nominee in 2013, you must file a Form 1099-B or Form 1099-S for those proceeds with the IRS. 10 40 ez form Send the Form 1099-B or Form 1099-S with a Form 1096, Annual Summary and Transmittal of U. 10 40 ez form S. 10 40 ez form Information Returns, to your Internal Revenue Service Center by February 28, 2014 (March 31, 2014, if you file Form 1099-B or Form 1099-S electronically). 10 40 ez form Give the actual owner of the proceeds Copy B of the Form 1099-B or Form 1099-S by February 18, 2014. 10 40 ez form On Form 1099-B, you should be listed as the “Payer. 10 40 ez form ” The other owner should be listed as the “Recipient. 10 40 ez form ” On Form 1099-S, you should be listed as the “Filer. 10 40 ez form ” The other owner should be listed as the “Transferor. 10 40 ez form ” You do not have to file a Form 1099-B or Form 1099-S to show proceeds for your spouse. 10 40 ez form For more information about the reporting requirements and the penalties for failure to file (or furnish) certain information returns, see the General Instructions for Certain Information Returns. 10 40 ez form If you are filing electronically see Publication 1220. 10 40 ez form Sale of property bought at various times. 10 40 ez form   If you sell a block of stock or other property that you bought at various times, report the short-term gain or loss from the sale on one row in Part I of Form 8949, and the long-term gain or loss on one row in Part II of Form 8949. 10 40 ez form Write “Various” in column (b) for the “Date acquired. 10 40 ez form ” Sale expenses. 10 40 ez form    On Form 8949, include in column (g) any expense of sale, such as broker's fees, commissions, state and local transfer taxes, and option premiums, unless you reported the net sales price in column (d). 10 40 ez form If you include an expense of sale in column (g), enter “E” in column (f). 10 40 ez form   For more information about adjustments to basis, see chapter 13. 10 40 ez form Short-term gains and losses. 10 40 ez form   Capital gain or loss on the sale or trade of investment property held 1 year or less is a short-term capital gain or loss. 10 40 ez form You report it in Part I of Form 8949. 10 40 ez form   You combine your share of short-term capital gain or loss from partnerships, S corporations, estates, and trusts, and any short-term capital loss carryover, with your other short-term capital gains and losses to figure your net short-term capital gain or loss on line 7 of Schedule D (Form 1040). 10 40 ez form Long-term gains and losses. 10 40 ez form    A capital gain or loss on the sale or trade of investment property held more than 1 year is a long-term capital gain or loss. 10 40 ez form You report it in Part II of Form 8949. 10 40 ez form   You report the following in Part II of Schedule D (Form 1040): Undistributed long-term capital gains from a mutual fund (or other regulated investment company) or real estate investment trust (REIT); Your share of long-term capital gains or losses from partnerships, S corporations, estates, and trusts; All capital gain distributions from mutual funds and REITs not reported directly on line 10 of Form 1040A or line 13 of Form 1040; and Long-term capital loss carryovers. 10 40 ez form    The result after combining these items with your other long-term capital gains and losses is your net long-term capital gain or loss (Schedule D (Form 1040), line 15). 10 40 ez form Total net gain or loss. 10 40 ez form   To figure your total net gain or loss, combine your net short-term capital gain or loss (Schedule D (Form 1040), line 7) with your net long-term capital gain or loss (Schedule D (Form 1040), line 15). 10 40 ez form Enter the result on Schedule D (Form 1040), Part III, line 16. 10 40 ez form If your losses are more than your gains, see Capital Losses , next. 10 40 ez form If both lines 15 and 16 of your Schedule D (Form 1040) are gains and your taxable income on your Form 1040 is more than zero, see Capital Gain Tax Rates , later. 10 40 ez form Capital Losses If your capital losses are more than your capital gains, you can claim a capital loss deduction. 10 40 ez form Report the amount of the deduction on line 13 of Form 1040, in parentheses. 10 40 ez form Limit on deduction. 10 40 ez form   Your allowable capital loss deduction, figured on Schedule D (Form 1040), is the lesser of: $3,000 ($1,500 if you are married and file a separate return); or Your total net loss as shown on line 16 of Schedule D (Form 1040). 10 40 ez form   You can use your total net loss to reduce your income dollar for dollar, up to the $3,000 limit. 10 40 ez form Capital loss carryover. 10 40 ez form   If you have a total net loss on line 16 of Schedule D (Form 1040) that is more than the yearly limit on capital loss deductions, you can carry over the unused part to the next year and treat it as if you had incurred it in that next year. 10 40 ez form If part of the loss is still unused, you can carry it over to later years until it is completely used up. 10 40 ez form   When you figure the amount of any capital loss carryover to the next year, you must take the current year's allowable deduction into account, whether or not you claimed it and whether or not you filed a return for the current year. 10 40 ez form   When you carry over a loss, it remains long term or short term. 10 40 ez form A long-term capital loss you carry over to the next tax year will reduce that year's long-term capital gains before it reduces that year's short-term capital gains. 10 40 ez form Figuring your carryover. 10 40 ez form   The amount of your capital loss carryover is the amount of your total net loss that is more than the lesser of: Your allowable capital loss deduction for the year; or Your taxable income increased by your allowable capital loss deduction for the year and your deduction for personal exemptions. 10 40 ez form   If your deductions are more than your gross income for the tax year, use your negative taxable income in computing the amount in item (2). 10 40 ez form    Complete the Capital Loss Carryover Worksheet in the Instructions for Schedule D or Publication 550 to determine the part of your capital loss that you can carry over. 10 40 ez form Example. 10 40 ez form Bob and Gloria sold securities in 2013. 10 40 ez form The sales resulted in a capital loss of $7,000. 10 40 ez form They had no other capital transactions. 10 40 ez form Their taxable income was $26,000. 10 40 ez form On their joint 2013 return, they can deduct $3,000. 10 40 ez form The unused part of the loss, $4,000 ($7,000 − $3,000), can be carried over to 2014. 10 40 ez form If their capital loss had been $2,000, their capital loss deduction would have been $2,000. 10 40 ez form They would have no carryover. 10 40 ez form Use short-term losses first. 10 40 ez form   When you figure your capital loss carryover, use your short-term capital losses first, even if you incurred them after a long-term capital loss. 10 40 ez form If you have not reached the limit on the capital loss deduction after using the short-term capital losses, use the long-term capital losses until you reach the limit. 10 40 ez form Decedent's capital loss. 10 40 ez form    A capital loss sustained by a decedent during his or her last tax year (or carried over to that year from an earlier year) can be deducted only on the final income tax return filed for the decedent. 10 40 ez form The capital loss limits discussed earlier still apply in this situation. 10 40 ez form The decedent's estate cannot deduct any of the loss or carry it over to following years. 10 40 ez form Joint and separate returns. 10 40 ez form   If you and your spouse once filed separate returns and are now filing a joint return, combine your separate capital loss carryovers. 10 40 ez form However, if you and your spouse once filed a joint return and are now filing separate returns, any capital loss carryover from the joint return can be deducted only on the return of the spouse who actually had the loss. 10 40 ez form Capital Gain Tax Rates The tax rates that apply to a net capital gain are generally lower than the tax rates that apply to other income. 10 40 ez form These lower rates are called the maximum capital gain rates. 10 40 ez form The term “net capital gain” means the amount by which your net long-term capital gain for the year is more than your net short-term capital loss. 10 40 ez form For 2013, the maximum capital gain rates are 0%, 15%, 20%, 25%, and 28%. 10 40 ez form See Table 16-1 for details. 10 40 ez form If you figure your tax using the maximum capital gain rate and the regular tax computation results in a lower tax, the regular tax computation applies. 10 40 ez form Example. 10 40 ez form All of your net capital gain is from selling collectibles, so the capital gain rate would be 28%. 10 40 ez form If you are otherwise subject to a rate lower than 28%, the 28% rate does not apply. 10 40 ez form Investment interest deducted. 10 40 ez form   If you claim a deduction for investment interest, you may have to reduce the amount of your net capital gain that is eligible for the capital gain tax rates. 10 40 ez form Reduce it by the amount of the net capital gain you choose to include in investment income when figuring the limit on your investment interest deduction. 10 40 ez form This is done on the Schedule D Tax Worksheet or the Qualified Dividends and Capital Gain Tax Worksheet. 10 40 ez form For more information about the limit on investment interest, see Interest Expenses in chapter 3 of Publication 550. 10 40 ez form Table 16-1. 10 40 ez form What Is Your Maximum Capital Gain Rate? IF your net capital gain is from . 10 40 ez form . 10 40 ez form . 10 40 ez form THEN your  maximum capital gain rate is . 10 40 ez form . 10 40 ez form . 10 40 ez form a collectibles gain 28% an eligible gain on qualified small business stock minus the section 1202 exclusion 28% an unrecaptured section 1250 gain 25% other gain1 and the regular tax rate that would apply is 39. 10 40 ez form 6% 20% other gain1 and the regular tax rate that would apply is 25%, 28%, 33%, or 35% 15% other gain1 and the regular tax rate that would apply is 10% or 15% 0% 1 Other gain means any gain that is not collectibles gain, gain on qualified small business stock, or unrecaptured section 1250 gain. 10 40 ez form     Collectibles gain or loss. 10 40 ez form   This is gain or loss from the sale or trade of a work of art, rug, antique, metal (such as gold, silver, and platinum bullion), gem, stamp, coin, or alcoholic beverage held more than 1 year. 10 40 ez form   Collectibles gain includes gain from sale of an interest in a partnership, S corporation, or trust due to unrealized appreciation of collectibles. 10 40 ez form Gain on qualified small business stock. 10 40 ez form    If you realized a gain from qualified small business stock that you held more than 5 years, you generally can exclude some or all of your gain under section 1202. 10 40 ez form The eligible gain minus your section 1202 exclusion is a 28% rate gain. 10 40 ez form See Gains on Qualified Small Business Stock in chapter 4 of Publication 550. 10 40 ez form Unrecaptured section 1250 gain. 10 40 ez form    Generally, this is any part of your capital gain from selling section 1250 property (real property) that is due to depreciation (but not more than your net section 1231 gain), reduced by any net loss in the 28% group. 10 40 ez form Use the Unrecaptured Section 1250 Gain Worksheet in the Schedule D (Form 1040) instructions to figure your unrecaptured section 1250 gain. 10 40 ez form For more information about section 1250 property and section 1231 gain, see chapter 3 of Publication 544. 10 40 ez form Tax computation using maximum capital gain rates. 10 40 ez form   Use the Qualified Dividends and Capital Gain Tax Worksheet or the Schedule D Tax Worksheet (whichever applies) to figure your tax if you have qualified dividends or net capital gain. 10 40 ez form You have net capital gain if Schedule D (Form 1040), lines 15 and 16, are both gains. 10 40 ez form Schedule D Tax Worksheet. 10 40 ez form   Use the Schedule D Tax Worksheet in the Schedule D (Form 1040) instructions to figure your tax if: You have to file Schedule D (Form 1040); and Schedule D (Form 1040), line 18 (28% rate gain) or line 19 (unrecaptured section 1250 gain), is more than zero. 10 40 ez form Qualified Dividends and Capital Gain Tax Worksheet. 10 40 ez form   If you do not have to use the Schedule D Tax Worksheet (as explained above) and any of the following apply, use the Qualified Dividends and Capital Gain Tax Worksheet in the instructions for Form 1040 or Form 1040A (whichever you file) to figure your tax. 10 40 ez form You received qualified dividends. 10 40 ez form (See Qualified Dividends in chapter 8. 10 40 ez form ) You do not have to file Schedule D (Form 1040) and you received capital gain distributions. 10 40 ez form (See Exceptions to filing Form 8949 and Schedule D (Form 1040) , earlier. 10 40 ez form ) Schedule D (Form 1040), lines 15 and 16, are both more than zero. 10 40 ez form Alternative minimum tax. 10 40 ez form   These capital gain rates are also used in figuring alternative minimum tax. 10 40 ez form Prev  Up  Next   Home   More Online Publications