File your Taxes for Free!
  • Get your maximum refund*
  • 100% accurate calculations guaranteed*

TurboTax Federal Free Edition - File Taxes Online

Don't let filing your taxes get you down! We'll help make it as easy as possible. With e-file and direct deposit, there's no faster way to get your refund!

Approved TurboTax Affiliate Site. TurboTax and TurboTax Online, among others, are registered trademarks and/or service marks of Intuit Inc. in the United States and other countries. Other parties' trademarks or service marks are the property of the respective owners.


© 2012 - 2018 All rights reserved.

This is an Approved TurboTax Affiliate site. TurboTax and TurboTax Online, among other are registered trademarks and/or service marks of Intuit, Inc. in the United States and other countries. Other parties' trademarks or service marks are the property of the respective owners.
When discussing "Free e-file", note that state e-file is an additional fee. E-file fees do not apply to New York state returns. Prices are subject to change without notice. E-file and get your refund faster
*If you pay an IRS or state penalty or interest because of a TurboTax calculations error, we'll pay you the penalty and interest.
*Maximum Refund Guarantee - or Your Money Back: If you get a larger refund or smaller tax due from another tax preparation method, we'll refund the applicable TurboTax federal and/or state purchase price paid. TurboTax Federal Free Edition customers are entitled to payment of $14.99 and a refund of your state purchase price paid. Claims must be submitted within sixty (60) days of your TurboTax filing date and no later than 6/15/14. E-file, Audit Defense, Professional Review, Refund Transfer and technical support fees are excluded. This guarantee cannot be combined with the TurboTax Satisfaction (Easy) Guarantee. *We're so confident your return will be done right, we guarantee it. Accurate calculations guaranteed. If you pay an IRS or state penalty or interest because of a TurboTax calculations error, we'll pay you the penalty and interest.
https://turbotax.intuit.com/corp/guarantees.jsp

1040ez Fillable Form 2012

Taxact 2011 Free Edition2008 Tax Form 10402012 Federal 1040ez Form2012 Irs Tax FormsFile Income Tax Online Free2012 Amended Tax FormsIrs Forms 20112011 Tax2012 Tax Software DownloadsH&r Block Military Free FileDo Students Need To File TaxesFile My 2012 Tax ReturnFree State Tax Return Only2010 1040ez InstructionsTaxes Amendment1040ez Form Online2010 1040ez Tax FormFreefileCan I Efile A 2012 Tax Return2010 Form 1040Free File H&r BlockI Didn T File My 2012 TaxesIrs Tax Forms For 2012How To File 2012 Tax Return OnlineAmend Tax Return Already FiledWww Myfreetaxes Com SwfloridaHow To Amend A Tax Return OnlineTax Right Offs For Students1040nr 2012Download 1040ez Federal Tax FormWww Military ComAmend 2008 Tax ReturnHow To File An Amended Return For 2011Amending A Federal Tax Return1040x Amended Tax FormTax Form 1040a 2012H And R Block Free FederalMilitary H & R BlockFile Online Tax Extension For FreeAmend A 2010 Tax Return

1040ez Fillable Form 2012

1040ez fillable form 2012 9. 1040ez fillable form 2012   Education Exception to Additional Tax on Early IRA Distributions Table of Contents Introduction Who Is Eligible Figuring the Amount Not Subject to the 10% Tax Reporting Early Distributions Introduction Generally, if you take a distribution from your IRA before you reach age 59½, you must pay a 10% additional tax on the early distribution. 1040ez fillable form 2012 This applies to any IRA you own, whether it is a traditional IRA (including a SEP-IRA), a Roth IRA, or a SIMPLE IRA. 1040ez fillable form 2012 The additional tax on an early distribution from a SIMPLE IRA may be as high as 25%. 1040ez fillable form 2012 See Publication 560, Retirement Plans for Small Business, for information on SEP-IRAs, and Publication 590, for information about all other IRAs. 1040ez fillable form 2012 However, you can take distributions from your IRAs for qualified higher education expenses without having to pay the 10% additional tax. 1040ez fillable form 2012 You may owe income tax on at least part of the amount distributed, but you may not have to pay the 10% additional tax. 1040ez fillable form 2012 Generally, if the taxable part of the distribution is less than or equal to the adjusted qualified education expenses (AQEE), none of the distribution is subject to the additional tax. 1040ez fillable form 2012 If the taxable part of the distribution is more than the AQEE, only the excess is subject to the additional tax. 1040ez fillable form 2012 Who Is Eligible You can take a distribution from your IRA before you reach age 59½ and not have to pay the 10% additional tax if, for the year of the distribution, you pay qualified education expenses for: yourself, your spouse, or your or your spouse's child, foster child, adopted child, or descendant of any of them. 1040ez fillable form 2012 Qualified education expenses. 1040ez fillable form 2012   For purposes of the 10% additional tax, these expenses are tuition, fees, books, supplies, and equipment required for enrollment or attendance at an eligible educational institution. 1040ez fillable form 2012 They also include expenses for special needs services incurred by or for special needs students in connection with their enrollment or attendance. 1040ez fillable form 2012   In addition, if the student is at least a half-time student, room and board are qualified education expenses. 1040ez fillable form 2012   The expense for room and board qualifies only to the extent that it is not more than the greater of the following two amounts. 1040ez fillable form 2012 The allowance for room and board, as determined by the eligible educational institution, that was included in the cost of attendance (for federal financial aid purposes) for a particular academic period and living arrangement of the student. 1040ez fillable form 2012 The actual amount charged if the student is residing in housing owned or operated by the eligible educational institution. 1040ez fillable form 2012 You will need to contact the eligible educational institution for qualified room and board costs. 1040ez fillable form 2012 Eligible educational institution. 1040ez fillable form 2012   An eligible educational institution is any college, university, vocational school, or other postsecondary educational institution eligible to participate in a student aid program administered by the U. 1040ez fillable form 2012 S. 1040ez fillable form 2012 Department of Education. 1040ez fillable form 2012 It includes virtually all accredited public, nonprofit, and proprietary (privately owned profit-making) postsecondary institutions. 1040ez fillable form 2012 The educational institution should be able to tell you if it is an eligible educational institution. 1040ez fillable form 2012   Certain educational institutions located outside the United States also participate in the U. 1040ez fillable form 2012 S. 1040ez fillable form 2012 Department of Education's Federal Student Aid (FSA) programs. 1040ez fillable form 2012 Half-time student. 1040ez fillable form 2012   A student is enrolled “at least half-time” if he or she is enrolled for at least half the full-time academic work load for the course of study the student is pursuing as determined under the standards of the school where the student is enrolled. 1040ez fillable form 2012 Figuring the Amount Not Subject to the 10% Tax To determine the amount of your distribution that is not subject to the 10% additional tax, first figure your adjusted qualified education expenses. 1040ez fillable form 2012 You do this by reducing your total qualified education expenses by any tax-free educational assistance, which includes: Expenses used to figure the tax-free portion of distributions from a Coverdell education savings account (ESA) (see Distributions in chapter 7, Coverdell Education Savings Account), The tax-free part of scholarships and fellowships (see Tax-Free Scholarships and Fellowships in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions), Pell grants (see Pell Grants and Other Title IV Need-Based Education Grants in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions), Veterans' educational assistance (see Veterans' Benefits in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions), Employer-provided educational assistance (see chapter 11, Employer-Provided Educational Assistance ), and Any other nontaxable (tax-free) payments (other than gifts or inheritances) received as educational assistance. 1040ez fillable form 2012 Do not reduce the qualified education expenses by amounts paid with funds the student receives as: Payment for services, such as wages, A loan, A gift, An inheritance given to either the student or the individual making the withdrawal, or A withdrawal from personal savings (including savings from a qualified tuition program (QTP)). 1040ez fillable form 2012 If your IRA distribution is equal to or less than your adjusted qualified education expenses, you are not subject to the 10% additional tax. 1040ez fillable form 2012 Example 1. 1040ez fillable form 2012 In 2013, Erin (age 32) took a year off from teaching to attend graduate school full-time. 1040ez fillable form 2012 She paid $5,800 of qualified education expenses from the following sources. 1040ez fillable form 2012   Employer-provided educational assistance  (tax free) $5,000     Early distribution from IRA (includes $500 taxable earnings) 3,200           Before Erin can determine if she must pay the 10% additional tax on her IRA distribution, she must reduce her total qualified education expenses. 1040ez fillable form 2012   Total qualified education expenses $5,800     Minus: Tax-free educational assistance −5,000     Equals: Adjusted qualified  education expenses (AQEE) $ 800   Because Erin's AQEE ($800) are more than the taxable portion of her IRA distribution ($500), she does not have to pay the 10% additional tax on any part of this distribution. 1040ez fillable form 2012 However, she must include the $500 taxable earnings in her gross income subject to income tax. 1040ez fillable form 2012 Example 2. 1040ez fillable form 2012 Assume the same facts as in Example 1 , except that Erin deducted some of the contributions to her IRA, so the taxable part of her early distribution is higher by $1,000. 1040ez fillable form 2012 This must be included in her income subject to income tax. 1040ez fillable form 2012 The taxable part of Erin's IRA distribution ($1,000) is larger than her $800 AQEE. 1040ez fillable form 2012 Therefore, she must pay the 10% additional tax on $200, the taxable part of her distribution ($1,000) that is more than her qualified education expenses ($800). 1040ez fillable form 2012 She does not have to pay the 10% additional tax on the remaining $800 of her taxable distribution. 1040ez fillable form 2012 Reporting Early Distributions By January 31, 2014, the payer of your IRA distribution should send you Form 1099-R, Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. 1040ez fillable form 2012 The information on this form will help you determine how much of your distribution is taxable for income tax purposes and how much is subject to the 10% additional tax. 1040ez fillable form 2012 If you received an early distribution from your IRA, you must report the taxable earnings on Form 1040, line 15b (Form 1040NR, line 16b). 1040ez fillable form 2012 Then, if you qualify for an exception for qualified higher education expenses, you must file Form 5329 to show how much, if any, of your early distribution is subject to the 10% additional tax. 1040ez fillable form 2012 See the Instructions for Form 5329, Part I, for help in completing the form and entering the results on Form 1040 or 1040NR. 1040ez fillable form 2012 There are many other situations in which Form 5329 is required. 1040ez fillable form 2012 If, during 2013, you had other distributions from IRAs or qualified retirement plans, or have made excess contributions to certain tax-favored accounts, see the instructions for line 58 (Form 1040) or line 56 (Form 1040NR) to determine if you must file Form 5329. 1040ez fillable form 2012 Prev  Up  Next   Home   More Online Publications
Español

Learn About the United States of America

Learn more about our country, symbols, and culture.

The 1040ez Fillable Form 2012

1040ez fillable form 2012 4. 1040ez fillable form 2012   Underpayment Penalty for 2013 Table of Contents Introduction Topics - This chapter discusses: Useful Items - You may want to see: General RuleFarmers and fishermen. 1040ez fillable form 2012 Higher income taxpayers. 1040ez fillable form 2012 Minimum required for higher income taxpayers. 1040ez fillable form 2012 Estate or trust payments of estimated tax. 1040ez fillable form 2012 Lowering or eliminating the penalty. 1040ez fillable form 2012 ExceptionsLess Than $1,000 Due No Tax Liability Last Year Figuring Your Required Annual Payment (Part I) Short Method for Figuring the Penalty (Part III) Regular Method for Figuring the Penalty (Part IV)Figuring Your Underpayment (Part IV, Section A) Worksheet for Form 2210, Part IV, Section B—Figuring the Penalty Annualized Income Installment Method (Schedule AI) Farmers and Fishermen Waiver of PenaltyFarmers and fishermen. 1040ez fillable form 2012 Introduction If you did not pay enough tax, either through withholding or by making timely estimated tax payments, you will have underpaid your estimated tax and may have to pay a penalty. 1040ez fillable form 2012 You may understand this chapter better if you can refer to a copy of your latest federal income tax return. 1040ez fillable form 2012 No penalty. 1040ez fillable form 2012   Generally, you will not have to pay a penalty for 2013 if any of the following apply. 1040ez fillable form 2012 The total of your withholding and timely estimated tax payments was at least as much as your 2012 tax. 1040ez fillable form 2012 (See Special rules for certain individuals for higher income taxpayers and farmers and fishermen. 1040ez fillable form 2012 ) The tax balance due on your 2013 return is no more than 10% of your total 2013 tax, and you paid all required estimated tax payments on time. 1040ez fillable form 2012 Your total tax for 2013 (defined later) minus your withholding is less than $1,000. 1040ez fillable form 2012 You did not have a tax liability for 2012. 1040ez fillable form 2012 You did not have any withholding taxes and your current year tax (less any household employment taxes) is less than $1,000. 1040ez fillable form 2012 IRS can figure the penalty for you. 1040ez fillable form 2012   If you think you owe the penalty, but you do not want to figure it yourself when you file your tax return, you may not have to. 1040ez fillable form 2012 Generally, the IRS will figure the penalty for you and send you a bill. 1040ez fillable form 2012   You only need to figure your penalty in the following three situations. 1040ez fillable form 2012 You are requesting a waiver of part, but not all, of the penalty. 1040ez fillable form 2012 You are using the annualized income installment method to figure the penalty. 1040ez fillable form 2012 You are treating the federal income tax withheld from your income as paid on the dates actually withheld. 1040ez fillable form 2012 However, if these situations do not apply to you, and you think you can lower or eliminate your penalty, complete Form 2210 or Form 2210-F and attach it to your return. 1040ez fillable form 2012 See Form 2210 , later. 1040ez fillable form 2012 Topics - This chapter discusses: The general rule for the underpayment penalty, Special rules for certain individuals, Exceptions to the underpayment penalty, How to figure your underpayment and the amount of your penalty on Form 2210, and How to ask the IRS to waive the penalty. 1040ez fillable form 2012 Useful Items - You may want to see: Form (and Instructions) 2210 Underpayment of Estimated Tax by Individuals, Estates, and Trusts 2210-F Underpayment of Estimated Tax by Farmers and Fishermen See chapter 5 for information about getting these forms. 1040ez fillable form 2012 General Rule In general, you may owe a penalty for 2013 if the total of your withholding and timely estimated tax payments did not equal at least the smaller of: 90% of your 2013 tax, or 100% of your 2012 tax. 1040ez fillable form 2012 (Your 2012 tax return must cover a 12-month period. 1040ez fillable form 2012 ) Your 2013 tax, for this purpose, is defined under Total tax for 2013 , later. 1040ez fillable form 2012 Special rules for certain individuals. 1040ez fillable form 2012   There are special rules for farmers and fishermen and certain higher income taxpayers. 1040ez fillable form 2012 Farmers and fishermen. 1040ez fillable form 2012   If at least two-thirds of your gross income for 2012 or 2013 is from farming or fishing, substitute  662/3% for 90% in (1) above. 1040ez fillable form 2012   See Farmers and Fishermen , later. 1040ez fillable form 2012 Higher income taxpayers. 1040ez fillable form 2012   If your AGI for 2012 was more than $150,000 ($75,000 if your 2013 filing status is married filing a separate return), substitute 110% for 100% in (2) under General Rule . 1040ez fillable form 2012 This rule does not apply to farmers or fishermen. 1040ez fillable form 2012   For 2012, AGI is the amount shown on Form 1040, line 37; Form 1040A, line 21; and Form 1040EZ, line 4. 1040ez fillable form 2012 Penalty figured separately for each period. 1040ez fillable form 2012   Because the penalty is figured separately for each payment period, you may owe a penalty for an earlier payment period even if you later paid enough to make up the underpayment. 1040ez fillable form 2012 This is true even if you are due a refund when you file your income tax return. 1040ez fillable form 2012 Example. 1040ez fillable form 2012 You did not make estimated tax payments for 2013 because you thought you had enough tax withheld from your wages. 1040ez fillable form 2012 Early in January 2014, you made an estimate of your total 2013 tax. 1040ez fillable form 2012 Then you realized that your withholding was $2,000 less than the amount needed to avoid a penalty for underpayment of estimated tax. 1040ez fillable form 2012 On January 10, you made an estimated tax payment of $3,000, which is the difference between your withholding and your estimate of your total tax. 1040ez fillable form 2012 Your final return shows your total tax to be $50 less than your estimate, so you are due a refund. 1040ez fillable form 2012 You do not owe a penalty for your payment due January 15, 2014. 1040ez fillable form 2012 However, you may owe a penalty through January 10, 2014, the day you made the $3,000 payment, for your underpayments for the earlier payment periods. 1040ez fillable form 2012 Minimum required each period. 1040ez fillable form 2012   You will owe a penalty for any 2013 payment period for which your estimated tax payment plus your withholding for the period and overpayments applied from previous periods was less than the smaller of: 22. 1040ez fillable form 2012 5% of your 2013 tax, or 25% of your 2012 tax. 1040ez fillable form 2012 (Your 2012 tax return must cover a 12-month period. 1040ez fillable form 2012 ) Minimum required for higher income taxpayers. 1040ez fillable form 2012   If you are subject to the rule for higher income taxpayers, discussed above, substitute 27. 1040ez fillable form 2012 5% for 25% in (2) under General Rule . 1040ez fillable form 2012 When penalty is charged. 1040ez fillable form 2012   If you miss a payment or you paid less than the minimum required in a period, you may be charged an underpayment penalty from the date the amount was due to the date the payment is made. 1040ez fillable form 2012 If a payment is mailed, the date of the U. 1040ez fillable form 2012 S. 1040ez fillable form 2012 postmark is considered the date of payment. 1040ez fillable form 2012   If a payment is made electronically, the date the payment is shown on your payment account (checking, savings, etc. 1040ez fillable form 2012 ) is considered to be the date of payment. 1040ez fillable form 2012 Estate or trust payments of estimated tax. 1040ez fillable form 2012   If you have estimated taxes credited to you from an estate or trust (Schedule K-1 (Form 1041)), treat the payment as made by you on January 15, 2014. 1040ez fillable form 2012 Amended returns. 1040ez fillable form 2012    If you file an amended return by the due date of your original return, use the tax shown on your amended return to figure your required estimated tax payments. 1040ez fillable form 2012 If you file an amended return after the due date of the original return, use the tax shown on the original return. 1040ez fillable form 2012   However, if you and your spouse file a joint return after the due date to replace separate returns you originally filed by the due date, use the tax shown on the joint return to figure your required estimated tax payments. 1040ez fillable form 2012 This rule applies only if both original separate returns were filed on time. 1040ez fillable form 2012 2012 separate returns and 2013 joint return. 1040ez fillable form 2012    If you file a joint return with your spouse for 2013, but you filed separate returns for 2012, your 2012 tax is the total of the tax shown on your separate returns. 1040ez fillable form 2012 You filed a separate return if you filed as single, head of household, or married filing separately. 1040ez fillable form 2012 2012 joint return and 2013 separate returns. 1040ez fillable form 2012    If you file a separate return for 2013, but you filed a joint return with your spouse for 2012, your 2012 tax is your share of the tax on the joint return. 1040ez fillable form 2012 You are filing a separate return if you file as single, head of household, or married filing separately. 1040ez fillable form 2012   To figure your share of the taxes on a joint return, first figure the tax both you and your spouse would have paid had you filed separate returns for 2012 using the same filing status as for 2013. 1040ez fillable form 2012 Then multiply the tax on the joint return by the following fraction. 1040ez fillable form 2012   The tax you would have paid had you filed a separate return   The total tax you and your spouse would have paid had you filed separate returns Example. 1040ez fillable form 2012 Lisa and Paul filed a joint return for 2012 showing taxable income of $49,000 and a tax of $6,484. 1040ez fillable form 2012 Of the $49,000 taxable income, $41,000 was Lisa's and the rest was Paul's. 1040ez fillable form 2012 For 2013, they file married filing separately. 1040ez fillable form 2012 Lisa figures her share of the tax on the 2012 joint return as follows. 1040ez fillable form 2012 2012 tax on $41,000 based on a separate return $ 6,286 2012 tax on $8,000 based on a  separate return 803 Total $ 7,089 Lisa's percentage of total tax  ($6,286 ÷ $ 7,089) 88. 1040ez fillable form 2012 67% Lisa's part of tax on joint return ($6,484 × 88. 1040ez fillable form 2012 67%) $ 5,749 Form 2210. 1040ez fillable form 2012   In most cases, you do not need to file Form 2210. 1040ez fillable form 2012 The IRS will figure the penalty for you and send you a bill. 1040ez fillable form 2012 If you want us to figure the penalty for you, leave the penalty line on your return blank. 1040ez fillable form 2012 Do not file Form 2210. 1040ez fillable form 2012   To determine if you should file Form 2210, see Part II of Form 2210. 1040ez fillable form 2012 If you decide to figure your penalty, complete Part I, Part II, and either Part III or Part IV of the form and the Penalty Worksheet in the Instructions for Form 2210. 1040ez fillable form 2012 If you use Form 2210, you cannot file Form 1040EZ. 1040ez fillable form 2012   On Form 1040, enter the amount of your penalty on line 77. 1040ez fillable form 2012 If you owe tax on line 76, add the penalty to your tax due and show your total payment on line 76. 1040ez fillable form 2012 If you are due a refund, subtract the penalty from the overpayment and enter the result on line 73. 1040ez fillable form 2012   On Form 1040A, enter the amount of your penalty on line 46. 1040ez fillable form 2012 If you owe tax on line 45, add the penalty to your tax due and show your total payment on line 45. 1040ez fillable form 2012 If you are due a refund, subtract the penalty from the overpayment and enter the result on line 42. 1040ez fillable form 2012 Lowering or eliminating the penalty. 1040ez fillable form 2012    You may be able to lower or eliminate your penalty if you file Form 2210. 1040ez fillable form 2012 You must file Form 2210 with your return if any of the following applies. 1040ez fillable form 2012 You request a waiver. 1040ez fillable form 2012 See Waiver of Penalty , later. 1040ez fillable form 2012 You use the annualized income installment method. 1040ez fillable form 2012 See the explanation of this method under Annualized Income Installment Method (Schedule AI) . 1040ez fillable form 2012 You use your actual withholding for each payment period for estimated tax purposes. 1040ez fillable form 2012 See Actual withholding method under Figuring Your Underpayment (Part IV, Section A). 1040ez fillable form 2012 You base any of your required installments on the tax shown on your 2012 return and you filed or are filing a joint return for either 2012 or 2013, but not for both years. 1040ez fillable form 2012 Exceptions Generally, you do not have to pay an underpayment penalty if either: Your total tax is less than $1,000, or You had no tax liability last year. 1040ez fillable form 2012 Less Than $1,000 Due You do not owe a penalty if the total tax shown on your return minus the amount you paid through withholding (including excess social security and tier 1 railroad retirement (RRTA) tax withholding) is less than $1,000. 1040ez fillable form 2012 Total tax for 2013. 1040ez fillable form 2012   For 2013, your total tax on Form 1040 is the amount on line 61 reduced by the following. 1040ez fillable form 2012    Unreported social security and Medicare tax or RRTA tax from Forms 4137 or 8919 (line 57). 1040ez fillable form 2012 Any tax included on line 58 for excess contributions to IRAs, Archer MSAs, Coverdell education savings accounts, and health savings accounts, or any tax on excess accumulations in qualified retirement plans. 1040ez fillable form 2012 The following write-ins on line 60: Uncollected social security and Medicare tax or RRTA tax on tips or group-term life insurance, Tax on excess golden parachute payments, Excise tax on insider stock compensation from an expatriated corporation, Look-back interest due under section 167(g), Look-back interest due under section 460(b), Recapture of federal mortgage subsidy, and Additional tax on advance payments of health coverage tax credit when not eligible. 1040ez fillable form 2012 Any refundable credit amounts listed on lines 64a, 65, 66, 70, and any credit from Form 8885 included on line 71. 1040ez fillable form 2012   If you filed Form 1040A, your 2013 total tax is the amount on line 35 reduced by any refundable credits on lines 38a, 39, and 40. 1040ez fillable form 2012   If you filed Form 1040EZ, your 2013 total tax is the amount on line 10 reduced by the amount on line 8a. 1040ez fillable form 2012 Note. 1040ez fillable form 2012 When figuring the amount on line 60, include household employment taxes only if you had federal income tax withheld from your income or you would owe the penalty even if you did not include those taxes. 1040ez fillable form 2012 Paid through withholding. 1040ez fillable form 2012    For 2013, the amount you paid through withholding on Form 1040 is the amount on line 62 plus any excess social security or tier 1 RRTA tax withholding on line 69. 1040ez fillable form 2012 Add to that any write-in amount on line 72 identified as “Form 8689. 1040ez fillable form 2012 ” On Form 1040A, the amount you paid through withholding is the amount on line 36 plus any excess social security or tier 1 RRTA tax withholding included on line 41. 1040ez fillable form 2012 On Form 1040EZ, it is the amount on line 7. 1040ez fillable form 2012 No Tax Liability Last Year You do not owe a penalty if you had no tax liability last year and you were a U. 1040ez fillable form 2012 S. 1040ez fillable form 2012 citizen or resident for the whole year. 1040ez fillable form 2012 For this rule to apply, your tax year must have included all 12 months of the year. 1040ez fillable form 2012 You had no tax liability for 2012 if your total tax was zero or you were not required to file an income tax return. 1040ez fillable form 2012 Example. 1040ez fillable form 2012 Ray, who is single and 22 years old, was unemployed for a few months during 2012. 1040ez fillable form 2012 He earned $6,700 in wages before he was laid off, and he received $1,400 in unemployment compensation afterwards. 1040ez fillable form 2012 He had no other income. 1040ez fillable form 2012 Even though he had gross income of $8,100, he did not have to pay income tax because his gross income was less than the filing requirement for a single person under age 65 ($9,750 for 2012). 1040ez fillable form 2012 He filed a return only to have his withheld income tax refunded to him. 1040ez fillable form 2012 In 2013, Ray began regular work as an independent contractor. 1040ez fillable form 2012 Ray made no estimated tax payments in 2013. 1040ez fillable form 2012 Even though he did owe tax at the end of the year, Ray does not owe the underpayment penalty for 2013 because he had no tax liability in 2012. 1040ez fillable form 2012 Total tax for 2012. 1040ez fillable form 2012   For 2012, your total tax on Form 1040 is the amount on line 61 reduced by the following. 1040ez fillable form 2012    Unreported social security and Medicare tax or RRTA tax from Forms 4137 or 8919 (line 57). 1040ez fillable form 2012 Any tax included on line 58 for excess contributions to IRAs, Archer MSAs, Coverdell education savings accounts, and health savings accounts, or any tax on excess accumulations in qualified retirement plans. 1040ez fillable form 2012 The following write-ins on line 60: Uncollected social security and Medicare tax or RRTA tax on tips or group-term life insurance, Tax on excess golden parachute payments, Excise tax on insider stock compensation from an expatriated corporation, Look-back interest due under section 167(g), Look-back interest due under section 460(b), Recapture of federal mortgage subsidy, and Additional tax on advance payments of health coverage tax credit when not eligible. 1040ez fillable form 2012 Any refundable credit amounts listed on lines 64a, 65, 66, 70, and credits from Forms 8801 (line 27 only), and 8885 included on line 71. 1040ez fillable form 2012   If you filed Form 1040A, your 2012 total tax is the amount on line 35 reduced by any refundable credits on lines 38a, 39, and 40. 1040ez fillable form 2012   If you filed Form 1040EZ, your 2012 total tax is the amount on line 11 reduced by the amount on line 8a. 1040ez fillable form 2012 Figuring Your Required Annual Payment (Part I) Figure your required annual payment in Part I of Form 2210, following the line-by-line instructions. 1040ez fillable form 2012 If you rounded the entries on your tax return to whole dollars, you can round on Form 2210. 1040ez fillable form 2012 Example. 1040ez fillable form 2012 The tax on Lori Lane's 2012 return was $12,400. 1040ez fillable form 2012 Her AGI was not more than $150,000 for either 2012 or 2013. 1040ez fillable form 2012 The tax on her 2013 return (Form 1040, line 55) is $13,044. 1040ez fillable form 2012 Line 56 (self-employment tax) is $8,902. 1040ez fillable form 2012 Her 2013 total tax is $21,946. 1040ez fillable form 2012 For 2013, Lori had $1,600 income tax withheld and made four equal estimated tax payments ($1,000 each). 1040ez fillable form 2012 90% of her 2013 tax is $19,751. 1040ez fillable form 2012 Because she paid less than her 2012 tax ($12,400) and less than 90% of her 2013 tax ($19,751), and does not meet an exception, Lori knows that she owes a penalty for underpayment of estimated tax. 1040ez fillable form 2012 The IRS will figure the penalty for Lori, but she decides to figure it herself on Form 2210 and pay it with her taxes when she files her tax return. 1040ez fillable form 2012 Lori's required annual payment is $12,400 (100% of 2012 tax) because that is smaller than 90% of her 2013 tax. 1040ez fillable form 2012 Different 2012 filing status. 1040ez fillable form 2012    If you file a separate return for 2013, but you filed a joint return with your spouse for 2012, see 2012 joint return and 2013 separate returns , earlier, to figure the amount to enter as your 2012 tax on line 8 of Form 2210. 1040ez fillable form 2012 Short Method for Figuring the Penalty (Part III) You may be able to use the short method in Part III of Form 2210 to figure your penalty for underpayment of estimated tax. 1040ez fillable form 2012 If you qualify to use this method, it will result in the same penalty amount as the regular method. 1040ez fillable form 2012 However, either the annualized income installment method or the actual withholding method, explained later, may result in a smaller penalty. 1040ez fillable form 2012 You can use the short method only if you meet one of the following requirements. 1040ez fillable form 2012 You made no estimated tax payments for 2013 (it does not matter whether you had income tax withholding). 1040ez fillable form 2012 You paid the same amount of estimated tax on each of the four payment due dates. 1040ez fillable form 2012 If you do not meet either requirement, figure your penalty using the regular method in Part IV of Form 2210 and the Penalty Worksheet in the instructions. 1040ez fillable form 2012 Note. 1040ez fillable form 2012 If any payment was made before the due date, you can use the short method, but the penalty may be less if you use the regular method. 1040ez fillable form 2012 However, if the payment was only a few days early, the difference is likely to be small. 1040ez fillable form 2012 You cannot use the short method if any of the following apply. 1040ez fillable form 2012 You made any estimated tax payments late. 1040ez fillable form 2012 You checked box C or D in Part II of Form 2210. 1040ez fillable form 2012 You are filing Form 1040NR or 1040NR-EZ and you did not receive wages as an employee subject to U. 1040ez fillable form 2012 S. 1040ez fillable form 2012 income tax withholding. 1040ez fillable form 2012 If you use the short method, you cannot use the annualized income installment method to figure your underpayment for each payment period. 1040ez fillable form 2012 Also, you cannot use your actual withholding during each period to figure your payments for each period. 1040ez fillable form 2012 These methods, which may give you a smaller penalty amount, are explained under Figuring Your Underpayment (Part IV, Section A). 1040ez fillable form 2012 Complete Part III of Form 2210 following the line-by-line instructions in the Instructions for Form 2210. 1040ez fillable form 2012 Regular Method for Figuring the Penalty (Part IV) You can use the regular method in Part IV of Form 2210 to figure your penalty for underpayment of estimated tax if you paid one or more estimated tax payments earlier than the due date. 1040ez fillable form 2012 You must use the regular method in Part IV of Form 2210 to figure your penalty for underpayment of estimated tax if any of the following apply to you. 1040ez fillable form 2012 You paid one or more estimated tax payments on a date after the due date. 1040ez fillable form 2012 You paid at least one, but less than four, installments of estimated tax. 1040ez fillable form 2012 You paid estimated tax payments in un- equal amounts. 1040ez fillable form 2012 You use the annualized income installment method to figure your underpayment for each payment period. 1040ez fillable form 2012 You use your actual withholding during each payment period to figure your payments. 1040ez fillable form 2012 Under the regular method, figure your underpayment for each payment period in Section A, then figure your penalty using the Penalty Worksheet in the Instructions for Form 2210. 1040ez fillable form 2012 Enter the results on line 27 of Section B. 1040ez fillable form 2012 Figuring Your Underpayment (Part IV, Section A) Figure your underpayment of estimated tax for each payment period in Section A following the line-by-line instructions in the Instructions for Form 2210. 1040ez fillable form 2012 Complete lines 20 through 26 of the first column before going to line 20 of the next column. 1040ez fillable form 2012 Required installments—line 18. 1040ez fillable form 2012   Your required payment for each payment period (line 18) is usually one-fourth of your required annual payment (Part I, line 9). 1040ez fillable form 2012 This method—the regular method—is the one to use if you received your income evenly throughout the year. 1040ez fillable form 2012   However, if you did not receive your income evenly throughout the year, you may be able to lower or eliminate your penalty by figuring your underpayment using the annualized income installment method. 1040ez fillable form 2012 First complete Schedule AI (Form 2210), then enter the amounts from line 25 of that schedule on line 18 of Form 2210, Part IV. 1040ez fillable form 2012 See Annualized Income Installment Method (Schedule AI), later. 1040ez fillable form 2012 Payments made—line 19. 1040ez fillable form 2012   Enter in each column the total of: Your estimated tax paid after the due date for the previous column and by the due date shown at the top of the column, and One-fourth of your withholding. 1040ez fillable form 2012 For special rules for figuring your payments, see Form 2210 instructions for line 19. 1040ez fillable form 2012   If you file Form 1040, your withholding is the amount on line 62, plus any excess social security or tier 1 RRTA tax withholding on line 69. 1040ez fillable form 2012 If you file Form 1040A, your withholding is the amount on line 36 plus any excess social security or tier 1 RRTA tax withholding included in line 41. 1040ez fillable form 2012 Actual withholding method. 1040ez fillable form 2012    Instead of using one-fourth of your withholding for each quarter, you can choose to use the amounts actually withheld by each due date. 1040ez fillable form 2012 You can make this choice separately for the tax withheld from your wages and for all other withholding. 1040ez fillable form 2012 This includes any excess social security and tier 1 RRTA tax withheld. 1040ez fillable form 2012   Using your actual withholding may result in a smaller penalty if most of your withholding occurred early in the year. 1040ez fillable form 2012   If you use your actual withholding, you must check box D in Form 2210, Part II. 1040ez fillable form 2012 Then complete Form 2210 using the regular method (Part IV) and file it with your return. 1040ez fillable form 2012 Worksheet for Form 2210, Part IV, Section B—Figuring the Penalty Figure the amount of your penalty for Section B using the Penalty Worksheet in the Form 2210 instructions. 1040ez fillable form 2012 The penalty is imposed on each underpayment amount shown on Form 2210, Section A, line 25, for the number of days that it remained unpaid. 1040ez fillable form 2012 For 2013, there are four rate periods—April 16 through June 30, July 1 through September 30, October 1 through December 31, and January 1, 2014 through April 15, 2014. 1040ez fillable form 2012 A 3% rate applies to all four periods. 1040ez fillable form 2012 Payments. 1040ez fillable form 2012    Before completing the Penalty Worksheet, it may be helpful to make a list of the payments you made and income tax withheld after the due date (or the last day payments could be made on time) for the earliest payment period an underpayment occurred. 1040ez fillable form 2012 For example, if you had an underpayment for the first payment period, list your payments after April 15, 2013. 1040ez fillable form 2012 You can use the table in the Form 2210 instructions to make your list. 1040ez fillable form 2012 Follow those instructions for listing income tax withheld and payments made with your return. 1040ez fillable form 2012 Use the list to determine when each underpayment was paid. 1040ez fillable form 2012   If you mail your estimated tax payments, use the date of the U. 1040ez fillable form 2012 S. 1040ez fillable form 2012 postmark as the date of payment. 1040ez fillable form 2012 Line 1b. 1040ez fillable form 2012   Apply the payments listed to underpayment balance in the first column until it is fully paid. 1040ez fillable form 2012 Apply payments in the order made. 1040ez fillable form 2012 Figuring the penalty. 1040ez fillable form 2012   If an underpayment was paid in two or more payments on different dates, you must figure the penalty separately for each payment. 1040ez fillable form 2012 On line 3 of the Penalty Worksheet enter the number of days between the due date (line 2) and the date of each payment on line 1b. 1040ez fillable form 2012 On line 4 figure the penalty for the amount of each payment applied on line 1b or the amount remaining unpaid. 1040ez fillable form 2012 If no payments are applied, figure the penalty on the amount on line 1a. 1040ez fillable form 2012 Aid for counting days. 1040ez fillable form 2012    Table 4-1 provides a simple method for counting the number of days between a due date and a payment date. 1040ez fillable form 2012 Find the number for the date the payment was due by going across to the column of the month the payment was due and moving down the column to the due date. 1040ez fillable form 2012 In the same manner, find the number for the date the payment was made. 1040ez fillable form 2012 Subtract the due date “number” from the payment date “number. 1040ez fillable form 2012 ”   For example, if a payment was due on June 15 (61), but was not paid until September 1 (139), the payment was 78 (139 – 61) days late. 1040ez fillable form 2012 Table 4-1. 1040ez fillable form 2012 Calendar To Determine the Number of Days a Payment Is Late Instructions. 1040ez fillable form 2012 Use this table with Form 2210 if you are completing Part IV, Section B. 1040ez fillable form 2012 First, find the number for the payment due date by going across to the column of the month the payment was due and moving down the column to the due date. 1040ez fillable form 2012 Then, in the same manner, find the number for the date the payment was made. 1040ez fillable form 2012 Finally, subtract the due date number from the payment date number. 1040ez fillable form 2012 The result is the number of days the payment is late. 1040ez fillable form 2012 Example. 1040ez fillable form 2012 The payment due date is June 15 (61). 1040ez fillable form 2012 The payment was made on November 4 (203). 1040ez fillable form 2012 The payment is 142 days late (203 – 61). 1040ez fillable form 2012 Tax Year 2013 Day of 2013 2013 2013 2013 2013 2013 2013 2013 2013 2014 2014 2014 2014 Month April May June July Aug. 1040ez fillable form 2012 Sept. 1040ez fillable form 2012 Oct. 1040ez fillable form 2012 Nov. 1040ez fillable form 2012 Dec. 1040ez fillable form 2012 Jan. 1040ez fillable form 2012 Feb. 1040ez fillable form 2012 Mar. 1040ez fillable form 2012 Apr. 1040ez fillable form 2012 1   16 47 77 108 139 169 200 230 261 292 320 351 2   17 48 78 109 140 170 201 231 262 293 321 352 3   18 49 79 110 141 171 202 232 263 294 322 353 4   19 50 80 111 142 172 203 233 264 295 323 354 5   20 51 81 112 143 173 204 234 265 296 324 355 6   21 52 82 113 144 174 205 235 266 297 325 356 7   22 53 83 114 145 175 206 236 267 298 326 357 8   23 54 84 115 146 176 207 237 268 299 327 358 9   24 55 85 116 147 177 208 238 269 300 328 359 10   25 56 86 117 148 178 209 239 270 301 329 360 11   26 57 87 118 149 179 210 240 271 302 330 361 12   27 58 88 119 150 180 211 241 272 303 331 362 13   28 59 89 120 151 181 212 242 273 304 332 363 14   29 60 90 121 152 182 213 243 274 305 333 364 15 0 30 61 91 122 153 183 214 244 275 306 334 365 16 1 31 62 92 123 154 184 215 245 276 307 335   17 2 32 63 93 124 155 185 216 246 277 308 336   18 3 33 64 94 125 156 186 217 247 278 309 337   19 4 34 65 95 126 157 187 218 248 279 310 338   20 5 35 66 96 127 158 188 219 249 280 311 339   21 6 36 67 97 128 159 189 220 250 281 312 340   22 7 37 68 98 129 160 190 221 251 282 313 341   23 8 38 69 99 130 161 191 222 252 283 314 342   24 9 39 70 100 131 162 192 223 253 284 315 343   25 10 40 71 101 132 163 193 224 254 285 316 344   26 11 41 72 102 133 164 194 225 255 286 317 345   27 12 42 73 103 134 165 195 226 256 287 318 346   28 13 43 74 104 135 166 196 227 257 288 319 347   29 14 44 75 105 136 167 197 228 258 289   348   30 15 45 76 106 137 168 198 229 259 290   349   31   46   107 138   199   260 291   350   Annualized Income Installment Method (Schedule AI) If you did not receive your income evenly throughout the year (for example, your income from a shop you operated at a marina was much larger in the summer than it was during the rest of the year), you may be able to lower or eliminate your penalty by figuring your underpayment using the annualized income installment method. 1040ez fillable form 2012 Under this method, your required installment (Part IV, line 18) for one or more payment periods may be less than one-fourth of your required annual payment. 1040ez fillable form 2012 To figure your underpayment using this method, complete Form 2210, Schedule AI. 1040ez fillable form 2012 Schedule AI annualizes your tax at the end of each payment period based on your income, deductions, and other items relating to events that occurred from the beginning of the tax year through the end of the period. 1040ez fillable form 2012 If you use the annualized income installment method, you must check box C in Part II of Form 2210. 1040ez fillable form 2012 Also, you must attach Form 2210 and Schedule AI to your return. 1040ez fillable form 2012 If you use Schedule AI for any payment due date, you must use it for all payment due dates. 1040ez fillable form 2012 Completing Schedule AI. 1040ez fillable form 2012   Follow the Form 2210 instructions to complete Schedule AI. 1040ez fillable form 2012 For each period shown on Schedule AI, figure your income and deductions based on your method of accounting. 1040ez fillable form 2012 If you use the cash method of accounting (used by most people), include all income actually or constructively received during the period and all deductions actually paid during the period. 1040ez fillable form 2012 Note. 1040ez fillable form 2012 Each period includes amounts from the previous period(s). 1040ez fillable form 2012 Period (a) includes items for January 1 through March 31. 1040ez fillable form 2012 Period (b) includes items for January 1 through May 31. 1040ez fillable form 2012 Period (c) includes items for January 1 through August 31. 1040ez fillable form 2012 Period (d) includes items for the entire year. 1040ez fillable form 2012 Farmers and Fishermen If you are a farmer or fisherman, the following special rules for underpayment of estimated tax apply to you. 1040ez fillable form 2012 The penalty for underpaying your 2013 estimated tax will not apply if you file your return and pay all the tax due by March 3, 2014. 1040ez fillable form 2012 If you are a fiscal year taxpayer, the penalty will not apply if you file your return and pay the tax due by the first day of the third month after the end of your tax year. 1040ez fillable form 2012 Any penalty you owe for underpaying your 2013 estimated tax will be figured from one payment due date, January 15, 2014. 1040ez fillable form 2012 The underpayment penalty for 2013 is figured on the difference between the amount of 2013 withholding plus estimated tax paid by the due date and the smaller of: 662/3% (rather than 90%) of your 2013 tax, or 100% of the tax shown on your 2012 return. 1040ez fillable form 2012 Even if these special rules apply to you, you will not owe the penalty if you meet either of the two conditions discussed under Exceptions . 1040ez fillable form 2012 See Who Must Pay Estimated Tax in chapter 2 for the definition of a farmer or fisherman who is eligible for these special rules. 1040ez fillable form 2012 Form 2210-F. 1040ez fillable form 2012   Use Form 2210-F to figure any underpayment penalty. 1040ez fillable form 2012 Do not attach it to your return unless you check a box in Part I. 1040ez fillable form 2012 However, if none of the boxes apply to you and you owe a penalty, you do not need to attach Form 2210-F. 1040ez fillable form 2012 Enter the amount from line 16 on Form 1040, line 77 and add the penalty to any balance due on your return or subtract it from your refund. 1040ez fillable form 2012 Keep your filled-in Form 2210-F for your records. 1040ez fillable form 2012    If none of the boxes on Form 2210-F apply to you and you owe a penalty, the IRS can figure your penalty and send you a bill. 1040ez fillable form 2012 Waiver of Penalty The IRS can waive the penalty for underpayment if either of the following applies. 1040ez fillable form 2012 You did not make a payment because of a casualty, disaster, or other unusual circumstance and it would be inequitable to impose the penalty. 1040ez fillable form 2012 You retired (after reaching age 62) or became disabled in 2012 or 2013 and both the following requirements are met. 1040ez fillable form 2012 You had a reasonable cause for not making the payment. 1040ez fillable form 2012 Your underpayment was not due to willful neglect. 1040ez fillable form 2012 How to request a waiver. 1040ez fillable form 2012   To request a waiver, see the Instructions for Form 2210. 1040ez fillable form 2012 Farmers and fishermen. 1040ez fillable form 2012   To request a waiver, see the Instructions for Form 2210-F. 1040ez fillable form 2012 Federally declared disaster. 1040ez fillable form 2012   Certain estimated tax payment deadlines for taxpayers who reside or have a business in a federally declared disaster area are postponed for a period during and after the disaster. 1040ez fillable form 2012 During the processing of your tax return, the IRS automatically identifies taxpayers located in a covered disaster area (by county or parish) and applies the appropriate penalty relief. 1040ez fillable form 2012 Do not file Form 2210 or 2210-F if your underpayment was due to a federally declared disaster. 1040ez fillable form 2012 If you still owe a penalty after the automatic waiver is applied, we will send you a bill. 1040ez fillable form 2012   Individuals, estates, and trusts not in a covered disaster area but whose books, records, or tax professionals' offices are in a covered area are also entitled to relief. 1040ez fillable form 2012 Also eligible are relief workers affiliated with a recognized government or charitable organization assisting in the relief activities in a covered disaster area. 1040ez fillable form 2012 If you meet either of these eligibility requirements, you must call the IRS disaster hotline at 1-866-562-5227 and identify yourself as eligible for this relief. 1040ez fillable form 2012   Details on the applicable disaster postponement period can be found at IRS. 1040ez fillable form 2012 gov. 1040ez fillable form 2012 Enter Tax Relief in Disaster Situations. 1040ez fillable form 2012 Select the federally declared disaster that affected you. 1040ez fillable form 2012    Worksheet 4-1. 1040ez fillable form 2012 2013 Form 2210, Schedule AI—Line 12 Qualified Dividends and Capital Gain Tax Worksheet Note. 1040ez fillable form 2012 To figure the annualized entries for lines 2, 3, and 5 below, multiply the expected amount for the period by the  annualization amount on line 2 of Schedule AI for the same period. 1040ez fillable form 2012                   1. 1040ez fillable form 2012 Enter line 11 of your Schedule AI, or line 3 from Worksheet 4-2 1. 1040ez fillable form 2012       2. 1040ez fillable form 2012 Enter your annualized qualified dividends for the period 2. 1040ez fillable form 2012           3. 1040ez fillable form 2012 Are you filing Schedule D?               □ Yes. 1040ez fillable form 2012 Enter the smaller of your annualized amount from line 15 or line 16 of Schedule D. 1040ez fillable form 2012 If either line 15 or line 16 is blank or a loss, enter -0-. 1040ez fillable form 2012 3. 1040ez fillable form 2012             □ No. 1040ez fillable form 2012 Enter your annualized capital gain distributions from Form 1040, line 13             4. 1040ez fillable form 2012 Add lines 2 and 3   4. 1040ez fillable form 2012           5. 1040ez fillable form 2012 If you are claiming investment interest expense on Form 4952, enter your annualized amount from line 4g of that form. 1040ez fillable form 2012 Otherwise, enter -0-   5. 1040ez fillable form 2012           6. 1040ez fillable form 2012 Subtract line 5 from line 4. 1040ez fillable form 2012 If zero or less, enter -0- 6. 1040ez fillable form 2012       7. 1040ez fillable form 2012 Subtract line 6 from line 1. 1040ez fillable form 2012 If zero or less, enter -0- 7. 1040ez fillable form 2012       8. 1040ez fillable form 2012 Enter: $36,900 if single or married filing separately, $73,800 if married filing jointly or qualifying widow(er), $49,400 if head of household. 1040ez fillable form 2012 8. 1040ez fillable form 2012       9. 1040ez fillable form 2012 Enter the smaller of line 1 or line 8 9. 1040ez fillable form 2012       10. 1040ez fillable form 2012 Enter the smaller of line 7 or line 9 10. 1040ez fillable form 2012       11. 1040ez fillable form 2012 Subtract line 10 from line 9. 1040ez fillable form 2012 This amount is taxed at 0% 11. 1040ez fillable form 2012       12. 1040ez fillable form 2012 Enter the smaller of line 1 or line 6 12. 1040ez fillable form 2012       13. 1040ez fillable form 2012 Enter the amount from line 11 13. 1040ez fillable form 2012       14. 1040ez fillable form 2012 Subtract line 13 from line 12 14. 1040ez fillable form 2012       15. 1040ez fillable form 2012 Multiply line 14 by 15% (. 1040ez fillable form 2012 15) 15. 1040ez fillable form 2012   16. 1040ez fillable form 2012 Figure the tax on the amount on line 7. 1040ez fillable form 2012 If the amount on line 7 is less than $100,000, use the Tax Table in the 2013 Form 1040 instructions to figure this tax. 1040ez fillable form 2012 If the amount on line 7 is $100,000 or more, use the Tax Computation Worksheet in the 2013 Form 1040 instructions 16. 1040ez fillable form 2012   17. 1040ez fillable form 2012 Add lines 15 and 16 17. 1040ez fillable form 2012   18. 1040ez fillable form 2012 Figure the tax on the amount on line 1. 1040ez fillable form 2012 If the amount on line 1 is less than $100,000, use the Tax Table in the 2013 Form 1040 instructions to figure this tax. 1040ez fillable form 2012 If the amount on line 1 is $100,000 or more, use the Tax Computation Worksheet in the 2013 Form 1040 instructions 18. 1040ez fillable form 2012   19. 1040ez fillable form 2012 Tax on all taxable income. 1040ez fillable form 2012 Enter the smaller of line 17 or line 18. 1040ez fillable form 2012 Also enter this amount on line 12 of Schedule AI in the appropriate column. 1040ez fillable form 2012 However, if you are using this worksheet to figure the tax on the amount on line 3 of Worksheet 4-2, enter the amount from line 19 on Worksheet 4-2, line 4 19. 1040ez fillable form 2012   Worksheet 4-2. 1040ez fillable form 2012 2013 Form 2210, Schedule AI—Line 12 Foreign Earned Income Tax Worksheet Before you begin:If Schedule AI, line 11, is zero for the period, do not complete this worksheet. 1040ez fillable form 2012             1. 1040ez fillable form 2012 Enter the amount from line 11 of Schedule AI for the period 1. 1040ez fillable form 2012   2. 1040ez fillable form 2012 Enter the annualized amount* of foreign earned income and housing amount excluded or deducted (from  Form 2555, lines 45 and 50, or Form 2555-EZ, line 18) in figuring the amount entered for the period on line 1  of Schedule AI 2. 1040ez fillable form 2012   3. 1040ez fillable form 2012 Add lines 1 and 2 3. 1040ez fillable form 2012   4. 1040ez fillable form 2012 Tax on the amount on line 3. 1040ez fillable form 2012 Use the Tax Table, Tax Computation Worksheet, Form 8615**, Qualified Dividends and Capital Gain Tax Worksheet***, or Schedule D Tax Worksheet***, whichever applies. 1040ez fillable form 2012 See the 2013 Instructions for Form 1040, line 44, to find out which tax computation method to use. 1040ez fillable form 2012 (Note. 1040ez fillable form 2012 You do not have to use the same method for each period on Schedule AI. 1040ez fillable form 2012 ) 4. 1040ez fillable form 2012   5. 1040ez fillable form 2012 Tax on the amount on line 2. 1040ez fillable form 2012 If the amount on line 2 is less than $100,000, use the Tax Table in the 2013 Form 1040 instructions to figure this tax. 1040ez fillable form 2012 If the amount on line 7 is $100,000 or more, use the Tax Computation Worksheet in the 2013 Form 1040 instructions 5. 1040ez fillable form 2012   6. 1040ez fillable form 2012 Subtract line 5 from line 4. 1040ez fillable form 2012 Enter the result here and on line 12 of Schedule AI. 1040ez fillable form 2012 If zero or less,  enter -0- 6. 1040ez fillable form 2012             * To figure the annualized amount for line 2, multiply the exclusion or deduction for the period by the annualization amount on line 2 of Schedule AI for the same period. 1040ez fillable form 2012     ** If you use Form 8615 to figure the tax on line 4 above, enter the amount from line 3 above on line 4 of Form 8615. 1040ez fillable form 2012 If the child's parent files Form 2555 or 2555-EZ, enter the amounts from lines 3 and 4 of the parent's Foreign Earned Income Tax Worksheet on lines 6 and 10, respectively, of Form 8615. 1040ez fillable form 2012 Complete the rest of Form 8615 according to its instructions. 1040ez fillable form 2012 Then complete lines 5 and 6 above. 1040ez fillable form 2012     *** Enter the amount from line 3 above on line 1 of the Qualified Dividends and Capital Gain Tax Worksheet (or Worksheet 4-1 in this chapter) or the Schedule D Tax Worksheet, whichever worksheet you use to figure the tax on line 4 above. 1040ez fillable form 2012 Complete that worksheet through line 6 (line 10 if you use the Schedule D Tax Worksheet). 1040ez fillable form 2012 Next, determine if you have a capital gain excess. 1040ez fillable form 2012     Figuring capital gain excess. 1040ez fillable form 2012 To find out if you have a capital gain excess for the appropriate period, subtract line 11 of Schedule AI from line 6 of Worksheet 4-1 or your Qualified Dividends and Capital Gain Tax Worksheet (line 10 of your Schedule D Tax Worksheet). 1040ez fillable form 2012 If the result is more than zero, that amount is your capital gain excess. 1040ez fillable form 2012     No capital gain excess. 1040ez fillable form 2012 If you do not have a capital gain excess, complete the rest of Worksheet 4-1, Qualified Dividends and Capital Gain Tax Worksheet, or the Schedule D Tax Worksheet according to the worksheet's instructions. 1040ez fillable form 2012 Then complete lines 5 and 6 above. 1040ez fillable form 2012     Capital gain excess. 1040ez fillable form 2012 If you have a capital gain excess, complete a second Worksheet 4-1, Qualified Dividends and Capital Gain Tax Worksheet, or Schedule D Tax Worksheet (whichever applies) as instructed above but in its entirety and with the following additional modifications. 1040ez fillable form 2012 Then complete lines 5 and 6 above. 1040ez fillable form 2012     Make the modifications below only for purposes of filling out Worksheet 4-2 above. 1040ez fillable form 2012     a. 1040ez fillable form 2012 Reduce (but not below zero) the amount you otherwise would enter on line 3 of your Worksheet 4-1, line 3 of your Qualified Dividends and Capital Gain Tax Worksheet, or line 9 of your Schedule D Tax Worksheet by your capital gain excess. 1040ez fillable form 2012     b. 1040ez fillable form 2012 Reduce (but not below zero) the amount you otherwise would enter on line 2 of your Worksheet 4-1, line 2 of your Qualified Dividends and Capital Gain Tax Worksheet, or line 6 of your Schedule D Tax Worksheet by any of your capital gain excess not used in (a) above. 1040ez fillable form 2012     c. 1040ez fillable form 2012 Reduce (but not below zero) the amount on your Schedule D (Form 1040), line 18, by your capital gain excess. 1040ez fillable form 2012     d. 1040ez fillable form 2012 Include your capital gain excess as a loss on line 16 of your Unrecaptured Section 1250 Gain Worksheet in the 2013 Instructions for Schedule D (Form 1040). 1040ez fillable form 2012   Prev  Up  Next   Home   More Online Publications