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1040ez Instruction Booklet

File Taxes FreeHow Do You File An Amended Federal Tax ReturnIrs Form 1040ez 20111040x 2011Volunteer Income Tax1040ez 2013 Instructions1040ez2011State Income TaxesFree Tax FormsCan I Electronic File My 1040xFile 2011 Taxes Late Online FreeFile Back Tax ReturnsTax Forms 2012 FederalFree State Tax Efile For Low IncomeAmending My 2011 Tax ReturnCan I File 2012 Taxes In 20131040ez Form And InstructionsIrs Efile Form 4868Taxact Com 2011Free State File TaxesFederal Tax FormsFile An Amended Tax Return OnlineIrs Tax Form 1040xForm 1040x 2009Free H&r Block TaxFile 2012 Taxes Free OnlineIrs Amended Tax FormFree State E-fileFree E FileCan You File Back Taxes Turbotax1040 NowAmended Tax ReturnsFiling Taxes Self EmployedFiling 1040x Online FreeHrblock 2010 Tax Calculator1040ez Tax Forms 2011Free E File 2010How To Amend 2010 Tax ReturnCan Tax Form 1040x Be Filed Online1040ez Tax Forms 2014

1040ez Instruction Booklet

1040ez instruction booklet Index Symbols 10% additional tax, Early Distributions Tax, Age 59½ Rule, Additional 10% tax 2-year rule SIMPLE IRAs, Two-year rule. 1040ez instruction booklet 20% withholding, Other withholding rules. 1040ez instruction booklet 5-year rule, 5-year rule. 1040ez instruction booklet , Death before required beginning date. 1040ez instruction booklet 6% excise tax on excess contributions to Roth IRAs, What if You Contribute Too Much? 60-day period for rollovers, Time Limit for Making a Rollover Contribution A Account balance, IRA account balance. 1040ez instruction booklet Additional taxes, What Acts Result in Penalties or Additional Taxes?, Additional 10% tax (see also Penalties) Reporting, Reporting Additional Taxes Adjusted gross income (AGI), Modified adjusted gross income (AGI). 1040ez instruction booklet , Modified AGI. 1040ez instruction booklet (see also Modified adjusted gross income (AGI)) Retirement savings contributions credit, Adjusted gross income. 1040ez instruction booklet Age 50 Contributions, General Limit Age 59 1/2 rule, Age 59½ Rule Age 70 1/2 rule, Age 70½ rule. 1040ez instruction booklet Required minimum distributions, Distributions after the required beginning date. 1040ez instruction booklet Age limit Traditional IRA, When Can Contributions Be Made? Airline payments, Rollover of Airline Payments Alimony, Alimony and separate maintenance. 1040ez instruction booklet Annuity contracts, Annuity or endowment contracts. 1040ez instruction booklet Borrowing on, Borrowing on an annuity contract. 1040ez instruction booklet Distribution from insurance company, Annuity distributions from an insurance company. 1040ez instruction booklet Distribution from IRA account, Distribution of an annuity contract from your IRA account. 1040ez instruction booklet Early distributions, Annuity. 1040ez instruction booklet Assistance (see Tax help) B Basis Inherited IRAs, IRA with basis. 1040ez instruction booklet Roth IRAs, Basis of distributed property. 1040ez instruction booklet Traditional IRAs, Cost basis. 1040ez instruction booklet Beginning date, required, Distributions after the required beginning date. 1040ez instruction booklet Beneficiaries, IRA Beneficiaries, Death before required beginning date. 1040ez instruction booklet Change of, Change of beneficiary. 1040ez instruction booklet Death of beneficiary, Death of a beneficiary. 1040ez instruction booklet Early distributions to, Beneficiary. 1040ez instruction booklet Individual as, Beneficiary an individual. 1040ez instruction booklet More than one, More than one beneficiary. 1040ez instruction booklet , Multiple individual beneficiaries. 1040ez instruction booklet Not an individual, Beneficiary not an individual. 1040ez instruction booklet Roth IRAs, Distributions to beneficiaries. 1040ez instruction booklet Sole beneficiary spouse more than 10 years younger, Sole beneficiary spouse who is more than 10 years younger. 1040ez instruction booklet Bond purchase plans Rollovers from, Rollover from bond purchase plan. 1040ez instruction booklet Bonds, retirement (see Individual retirement bonds) Broker's commissions, Brokers' commissions. 1040ez instruction booklet , Brokers' commissions. 1040ez instruction booklet C Change in marital status, Change in marital status. 1040ez instruction booklet Change of beneficiary, Change of beneficiary. 1040ez instruction booklet Charitable distributions, qualified, Qualified charitable distributions. 1040ez instruction booklet Collectibles, Investment in Collectibles, Collectibles. 1040ez instruction booklet Community property, Community property laws. 1040ez instruction booklet Compensation Alimony, Alimony and separate maintenance. 1040ez instruction booklet Defined, What Is Compensation? Nontaxable combat pay, Nontaxable combat pay. 1040ez instruction booklet Self-employment, Self-employment loss. 1040ez instruction booklet Wages, salaries, etc. 1040ez instruction booklet , Wages, salaries, etc. 1040ez instruction booklet Conduit IRAs, IRA as a holding account (conduit IRA) for rollovers to other eligible plans. 1040ez instruction booklet Contribution limits More than one IRA, More than one IRA. 1040ez instruction booklet Contributions Designating the year, Designating year for which contribution is made. 1040ez instruction booklet Distributions in same year as, Both contributions for 2013 and distributions in 2013. 1040ez instruction booklet Excess (see Excess contributions) Less than maximum, Less Than Maximum Contributions Matching (SIMPLE), Matching contributions. 1040ez instruction booklet Nondeductible (see Nondeductible contributions) Not required, Contributions not required. 1040ez instruction booklet Qualified reservist repayments, Qualified reservist repayments. 1040ez instruction booklet Recharacterizing (see Recharacterization) Retirement savings contributions credit, Eligible contributions. 1040ez instruction booklet Roth IRAs, Can You Contribute to a Roth IRA?, Applying excess contributions. 1040ez instruction booklet SIMPLE plans, How Are Contributions Made?, How Much Can Be Contributed on Your Behalf? Traditional IRAs, How Much Can Be Contributed?, More Than Maximum Contributions When to contribute, When Can Contributions Be Made? Withdrawing before due date of return, Contributions Returned Before Due Date of Return Conversions From SIMPLE IRAs, Converting from a SIMPLE IRA. 1040ez instruction booklet To Roth IRAs, Conversions Credits Retirement savings contributions credit, Retirement Savings Contributions Credit (Saver's Credit), How to figure and report the credit. 1040ez instruction booklet D Death of beneficiary, Death of a beneficiary. 1040ez instruction booklet Deductions Figuring reduced IRA deduction, How To Figure Your Reduced IRA Deduction Phaseout, Deduction Phaseout Traditional IRAs, How Much Can You Deduct?, Examples — Worksheet for Reduced IRA Deduction for 2013 Deemed IRAs, Reminders, Reminders Defined benefit plans, Defined benefit plan. 1040ez instruction booklet Defined contribution plans, Defined contribution plan. 1040ez instruction booklet Disabilities, persons with Early distributions to, Disabled. 1040ez instruction booklet Distributions After required beginning date, Distributions after the required beginning date. 1040ez instruction booklet Age 59 1/2 rule, Age 59½ Rule Beneficiaries (see Beneficiaries) Contributions in same year as, Both contributions for 2013 and distributions in 2013. 1040ez instruction booklet Delivered outside U. 1040ez instruction booklet S. 1040ez instruction booklet , IRA distributions delivered outside the United States. 1040ez instruction booklet Figuring nontaxable and taxable amounts, Figuring the Nontaxable and Taxable Amounts From individual retirement accounts, Distributions from individual retirement account. 1040ez instruction booklet From individual retirement annuities, Distributions from individual retirement annuities. 1040ez instruction booklet Fully or partly taxable, Distributions Fully or Partly Taxable Income from, Income from IRA distributions. 1040ez instruction booklet Inherited IRAs (see Inherited IRAs) Insufficient, Excess Accumulations (Insufficient Distributions) Qualified charitable, Qualified charitable distributions. 1040ez instruction booklet Qualified HSA funding, One-time qualified HSA funding distribution. 1040ez instruction booklet Qualified reservist, Qualified reservist distributions. 1040ez instruction booklet Roth IRAs, Are Distributions Taxable?, How Do You Figure the Taxable Part? Ordering rules for, Ordering Rules for Distributions Recapture amount, Figuring your recapture amount. 1040ez instruction booklet SIMPLE IRAs, Are Distributions Taxable? Taxable status of, Are Distributions Taxable? Divorce Rollovers by former spouse, Distributions under divorce or similar proceedings (alternate payees). 1040ez instruction booklet Transfers incident to, Transfers Incident To Divorce E Early distributions, What Acts Result in Penalties or Additional Taxes?, Early Distributions, Nondeductible contributions. 1040ez instruction booklet (see also Penalties) Age 59 1/2 rule, Age 59½ Rule Defined, Early distributions defined. 1040ez instruction booklet Disability exception, Disabled. 1040ez instruction booklet First-time homebuyers, exception, First home. 1040ez instruction booklet Higher education expenses, exception, Higher education expenses. 1040ez instruction booklet Medical insurance, exception, Medical insurance. 1040ez instruction booklet Roth IRAs, Additional Tax on Early Distributions SIMPLE IRAs, Additional Tax on Early Distributions Tax, Early Distributions Tax Unreimbursed medical expenses, exception, Unreimbursed medical expenses. 1040ez instruction booklet Education expenses, Higher education expenses. 1040ez instruction booklet Employer and employee association trust accounts, Employer and Employee Association Trust Accounts Employer plans Covered by, Covered by an employer retirement plan. 1040ez instruction booklet Year(s) covered, For Which Year(s) Are You Covered? Employer retirement plans, Are You Covered by an Employer Plan? Defined benefit plans, Defined benefit plan. 1040ez instruction booklet Defined contribution plans, Defined contribution plan. 1040ez instruction booklet Effect of modified AGI on deduction (Table 1-2), Table 1-2. 1040ez instruction booklet Effect of Modified AGI1 on Deduction if You Are Covered by a Retirement Plan at Work Limit if covered by, Limit if Covered by Employer Plan Prohibited transactions, Trust account set up by an employer or an employee association. 1040ez instruction booklet Endowment contracts (see Annuity contracts) Estate tax, Estate tax. 1040ez instruction booklet Deduction for inherited IRAs, Federal estate tax deduction. 1040ez instruction booklet Excess accumulations, Excess Accumulations (Insufficient Distributions), Make up of shortfall in distribution. 1040ez instruction booklet Roth IRAs, Distributions After Owner's Death Excess contributions, Excess Contributions Closed tax year, Closed tax year. 1040ez instruction booklet Deducted in earlier year, Excess contribution deducted in an earlier year. 1040ez instruction booklet Deducting in a later year, Deducting an Excess Contribution in a Later Year Due to incorrect rollover information, Excess due to incorrect rollover information. 1040ez instruction booklet Recharacterizing, Recharacterizing excess contributions. 1040ez instruction booklet Roth IRAs, What if You Contribute Too Much? Tax, Excess Contributions Tax Withdrawn after due date of return, Excess Contributions Withdrawn After Due Date of Return Withdrawn by due date of return, Excess Contributions Withdrawn by Due Date of Return Exempt transactions, Exempt Transactions Exxon Valdez settlement income, Rollover of Exxon Valdez Settlement Income , Rollover of Exxon Valdez Settlement Income F Failed financial institutions, Failed financial institutions. 1040ez instruction booklet Federal judges, Federal judges. 1040ez instruction booklet Fiduciaries Prohibited transactions, Fiduciary. 1040ez instruction booklet Filing before IRA contribution is made, Filing before a contribution is made. 1040ez instruction booklet Filing status, Filing Status Deduction phaseout and, Filing status. 1040ez instruction booklet Firefighters, volunteer, Volunteer firefighters. 1040ez instruction booklet First-time homebuyers, First home. 1040ez instruction booklet Five-year rule (see 5-year rule) Form 1040 Modified AGI calculation from, Form 1040. 1040ez instruction booklet , Form 1040NR. 1040ez instruction booklet Form 1040A Modified AGI calculation from, Form 1040A. 1040ez instruction booklet Form 1099-R, Reporting and Withholding Requirements for Taxable Amounts Distribution code 1 used on, Form 5329 not required. 1040ez instruction booklet Letter codes used on, Letter codes. 1040ez instruction booklet Number codes used on, Number codes. 1040ez instruction booklet Withdrawal of excess contribution, Form 1099-R. 1040ez instruction booklet Form 5329, Additional 10% tax, Reporting the tax. 1040ez instruction booklet , Reporting Additional Taxes Recapture tax, Recapture tax for changes in distribution method under equal payment exception. 1040ez instruction booklet Form 8606, Form 8606. 1040ez instruction booklet , Form 8606. 1040ez instruction booklet , Reporting your nontaxable distribution on Form 8606. 1040ez instruction booklet , Figuring the Nontaxable and Taxable Amounts Failure to file, penalty, Penalty for failure to file Form 8606. 1040ez instruction booklet Form 8880, How to figure and report the credit. 1040ez instruction booklet Form W-2 Employer retirement plans, Are You Covered by an Employer Plan? Free tax services, Free help with your tax return. 1040ez instruction booklet Frozen deposits, Frozen deposit. 1040ez instruction booklet Full-time student Retirement savings contributions credit, Full-time student. 1040ez instruction booklet H Help (see Tax help) Higher education expenses, Higher education expenses. 1040ez instruction booklet How to Set up an IRA, How Can a Traditional IRA Be Opened? Treat withdrawn contributions, How to treat withdrawn contributions. 1040ez instruction booklet HSA funding distributions, qualified, One-time qualified HSA funding distribution. 1040ez instruction booklet I Individual retirement accounts, Individual Retirement Account Distributions from, Distributions from individual retirement account. 1040ez instruction booklet Individual retirement annuities, Individual Retirement Annuity Distributions from, Distributions from individual retirement annuities. 1040ez instruction booklet Individual retirement arrangements (IRAs) How to set up, How Can a Traditional IRA Be Opened? When to set up, When Can a Traditional IRA Be Opened? Individual retirement bonds, Individual Retirement Bonds Cashing in, Cashing in retirement bonds. 1040ez instruction booklet Inherited IRAs, What if You Inherit an IRA?, More information. 1040ez instruction booklet Rollovers, Inherited IRAs. 1040ez instruction booklet Insufficient distributions, Excess Accumulations (Insufficient Distributions) Interest on IRA, Reminders Investment in collectibles Collectibles defined, Collectibles. 1040ez instruction booklet Exception, Exception. 1040ez instruction booklet K Kay Bailey Hutchison Spousal IRAs Contribution limits, Kay Bailey Hutchison Spousal IRA Limit Deductions, Kay Bailey Hutchison Spousal IRA. 1040ez instruction booklet Roth IRA contribution limits, Can you contribute to a Roth IRA for your spouse? Keogh plans Rollovers from, Keogh plans and rollovers. 1040ez instruction booklet L Last-in first-out rule, Last-in first-out rule. 1040ez instruction booklet Life expectancy, Life expectancy. 1040ez instruction booklet Life insurance, Life insurance contract. 1040ez instruction booklet Losses Roth IRAs, Recognizing Losses on Investments Traditional IRAs, Recognizing Losses on Traditional IRA Investments M Marital status, change in, Change in marital status. 1040ez instruction booklet Matching contributions (SIMPLE), Matching contributions. 1040ez instruction booklet Medical expenses, unreimbursed, Unreimbursed medical expenses. 1040ez instruction booklet Medical insurance, Medical insurance. 1040ez instruction booklet Military death gratuities, Military Death Gratuities and Servicemembers' Group Life Insurance (SGLI) Payments Minimum distribution (see Required minimum distribution) Missing children, photographs of, Reminders Modified adjusted gross income (AGI) Employer retirement plan coverage and deduction (Table 1-2), Table 1-2. 1040ez instruction booklet Effect of Modified AGI1 on Deduction if You Are Covered by a Retirement Plan at Work Figuring (Worksheet 1-1), Worksheet 1-1. 1040ez instruction booklet Figuring Your Modified AGI No employer retirement plan coverage and deduction (Table 1-3), Table 1-3. 1040ez instruction booklet Effect of Modified AGI1 on Deduction if You Are NOT Covered by a Retirement Plan at Work Roth IRAs, Modified AGI. 1040ez instruction booklet Effect on contribution amount (Table 2-1), Table 2-1. 1040ez instruction booklet Effect of Modified AGI on Roth IRA Contribution More than one beneficiary, More than one beneficiary. 1040ez instruction booklet More than one IRA, More than one IRA. 1040ez instruction booklet Recharacterization, More than one IRA. 1040ez instruction booklet Required minimum distribution, More than one IRA. 1040ez instruction booklet N Nondeductible contributions, Nondeductible Contributions, Nondeductible contributions. 1040ez instruction booklet Failure to report, Failure to report nondeductible contributions. 1040ez instruction booklet Overstatement penalty, Penalty for overstatement. 1040ez instruction booklet Notice Qualified employer plan to provide prior to rollover distribution, Written explanation to recipients. 1040ez instruction booklet Rollovers, Rollover notice. 1040ez instruction booklet P Partial rollovers, Partial rollovers. 1040ez instruction booklet , Partial rollover. 1040ez instruction booklet Penalties, What Acts Result in Penalties or Additional Taxes?, Form 5329 not required. 1040ez instruction booklet Early distributions, Early Distributions, Nondeductible contributions. 1040ez instruction booklet Excess accumulations, Excess Accumulations (Insufficient Distributions), Make up of shortfall in distribution. 1040ez instruction booklet Excess contributions, Excess Contributions Roth IRAs, What if You Contribute Too Much? Exempt transactions, Exempt Transactions, Services received at reduced or no cost. 1040ez instruction booklet Failure to file Form 8606, Penalty for failure to file Form 8606. 1040ez instruction booklet Overstatement of nondeductible contributions, Penalty for overstatement. 1040ez instruction booklet Prohibited transactions, Prohibited Transactions, Services received at reduced or no cost. 1040ez instruction booklet Reporting, Reporting Additional Taxes SIMPLE IRAs, Additional Tax on Early Distributions Phaseout of deduction, Deduction Phaseout Pledging account as security, Pledging an account as security. 1040ez instruction booklet Prohibited transactions, Prohibited Transactions, Services received at reduced or no cost. 1040ez instruction booklet Taxes on, Taxes on prohibited transactions. 1040ez instruction booklet Publications (see Tax help) Q Qualified charitable distributions, Qualified charitable distributions. 1040ez instruction booklet Qualified domestic relations orders (QDROs), Qualified domestic relations order. 1040ez instruction booklet Qualified settlement income, Rollover of Exxon Valdez Settlement Income , Rollover of Exxon Valdez Settlement Income R Recapture tax Changes in distribution method, Recapture tax for changes in distribution method under equal payment exception. 1040ez instruction booklet Receivership distributions, Receivership distributions. 1040ez instruction booklet Recharacterization, Recharacterizations, More than one IRA. 1040ez instruction booklet Determining amount of net income due to contribution and total amount to be recharacterized (Worksheet 1-3), Worksheet 1-3. 1040ez instruction booklet Determining the Amount of Net Income Due To an IRA Contribution and Total Amount To Be Recharacterized Reporting, Reporting a Recharacterization SIMPLE employer contributions, Recharacterizing employer contributions. 1040ez instruction booklet Timing of, Timing. 1040ez instruction booklet Reconversion, Reconversions Recordkeeping requirements Traditional IRAs, Nondeductible Contributions Reporting Additional taxes, Reporting Additional Taxes Deductible contributions, Reporting Deductible Contributions Nontaxable distribution on Form 8606, Reporting your nontaxable distribution on Form 8606. 1040ez instruction booklet Recharacterization, Reporting a Recharacterization Rollovers From employer plans, Reporting rollovers from employer plans. 1040ez instruction booklet From IRAs, Reporting rollovers from IRAs. 1040ez instruction booklet Taxable amounts, Reporting and Withholding Requirements for Taxable Amounts Taxable distributions, Reporting taxable distributions on your return. 1040ez instruction booklet Required beginning date, Distributions after the required beginning date. 1040ez instruction booklet Required minimum distribution, Reminders, When Must You Withdraw Assets? (Required Minimum Distributions), Annuity distributions from an insurance company. 1040ez instruction booklet Distribution period, Distribution period. 1040ez instruction booklet During lifetime, Distributions during your lifetime. 1040ez instruction booklet Figuring, Figuring the Owner's Required Minimum Distribution For beneficiary, Figuring the Beneficiary's Required Minimum Distribution Table to use, Which Table Do You Use To Determine Your Required Minimum Distribution? In year of owner's death, Distributions in the year of the owner's death. 1040ez instruction booklet Installments allowed, Installments allowed. 1040ez instruction booklet More than one IRA, More than one IRA. 1040ez instruction booklet Sole beneficiary spouse who is more than 10 years younger, Sole beneficiary spouse who is more than 10 years younger. 1040ez instruction booklet Reservists, Reservists. 1040ez instruction booklet Qualified reservist distribution, Qualified reservist distributions. 1040ez instruction booklet Qualified reservist repayments, Qualified reservist repayments. 1040ez instruction booklet Retirement bonds (see Individual retirement bonds) Retirement savings contributions credit, Retirement Savings Contributions Credit (Saver's Credit), How to figure and report the credit. 1040ez instruction booklet Rollovers, Rollovers, Reporting rollovers from employer plans. 1040ez instruction booklet Airline payments, Rollover of Airline Payments Amount, Amount. 1040ez instruction booklet Choosing an option (Table 1-5), Table 1-5. 1040ez instruction booklet Comparison of Payment to You Versus Direct Rollover Completed after 60-day period, Rollovers completed after the 60-day period. 1040ez instruction booklet Conduit IRAs, IRA as a holding account (conduit IRA) for rollovers to other eligible plans. 1040ez instruction booklet Direct rollover option, Direct rollover option. 1040ez instruction booklet Extension of period, Extension of rollover period. 1040ez instruction booklet From bond purchase plan, Rollover from bond purchase plan. 1040ez instruction booklet From employer's plan into a Roth IRA, Rollover From Employer's Plan Into a Roth IRA From employer's plan into an IRA, Rollover From Employer's Plan Into an IRA From Keogh plans, Keogh plans and rollovers. 1040ez instruction booklet From one IRA into another, Rollover From One IRA Into Another From Roth IRAs, Rollover From a Roth IRA From traditional IRA, Kinds of rollovers from a traditional IRA. 1040ez instruction booklet Inherited IRAs, Inherited IRAs. 1040ez instruction booklet Nonspouse beneficiary, Rollover by nonspouse beneficiary. 1040ez instruction booklet Notice, Rollover notice. 1040ez instruction booklet Partial, Partial rollovers. 1040ez instruction booklet , Partial rollover. 1040ez instruction booklet SIMPLE IRAs, Rollovers and Transfers Exception Tax treatment of rollover from traditional IRA to eligible retirement plan other than an IRA, Tax treatment of a rollover from a traditional IRA to an eligible retirement plan other than an IRA. 1040ez instruction booklet Time limit, Time Limit for Making a Rollover Contribution To Roth IRAs, Conversion methods. 1040ez instruction booklet To traditional IRA, Kinds of rollovers to a traditional IRA. 1040ez instruction booklet Waiting period between, Waiting period between rollovers. 1040ez instruction booklet , No waiting period between rollovers. 1040ez instruction booklet Withholding (see Withholding) Roth IRAs, Roth IRAs, Distributions After Owner's Death Age limit, Is there an age limit for contributions? Contribution limit reduced, Contribution limit reduced. 1040ez instruction booklet Contributions, Can You Contribute to a Roth IRA?, Applying excess contributions. 1040ez instruction booklet Timing of, When Can You Make Contributions? To traditional IRAs and to Roth IRAs, Roth IRAs and traditional IRAs. 1040ez instruction booklet Conversion, Converting From Any Traditional IRA Into a Roth IRA, Conversion by rollover from traditional to Roth IRA. 1040ez instruction booklet , Recharacterizing to a SEP IRA or SIMPLE IRA. 1040ez instruction booklet , Conversions Defined, What Is a Roth IRA? Distributions, Are Distributions Taxable?, How Do You Figure the Taxable Part? After death of owner, Distributions After Owner's Death Insufficient, Distributions After Owner's Death Ordering rules for, Ordering Rules for Distributions Early distributions, Additional Tax on Early Distributions Excess accumulations, Distributions After Owner's Death Excess contributions, What if You Contribute Too Much? Figuring taxable part, How Do You Figure the Taxable Part? Losses, Recognizing Losses on Investments Modified AGI Effect on contribution amount (Table 2-1), Table 2-1. 1040ez instruction booklet Effect of Modified AGI on Roth IRA Contribution Figuring (Worksheet 2-1), Worksheet 2-1. 1040ez instruction booklet Modified Adjusted Gross Income for Roth IRA Purposes Rollovers from, Rollover From a Roth IRA Setting up, When Can a Roth IRA Be Opened? Spouse, Can you contribute to a Roth IRA for your spouse? Traditional IRAs converted into, Converting From Any Traditional IRA Into a Roth IRA Withdrawing or using assets, Must You Withdraw or Use Assets? S Salary reduction arrangement, What Is a SIMPLE Plan? Savings Incentive Match Plans for Employees (see SIMPLE IRAs) Section 501(c)(18) plan, General Limit, Kay Bailey Hutchison Spousal IRA Limit Self-employed persons Deductible contributions, Self-employed. 1040ez instruction booklet Income of, Self-employment income. 1040ez instruction booklet SIMPLE plans, Self-employed individual. 1040ez instruction booklet SEP IRAs Recharacterizing to, Recharacterizing to a SEP IRA or SIMPLE IRA. 1040ez instruction booklet Separated taxpayers Filing status of, Lived apart from spouse. 1040ez instruction booklet Servicemembers group life insurance, Military Death Gratuities and Servicemembers' Group Life Insurance (SGLI) Payments Services received at reduced or no cost, Services received at reduced or no cost. 1040ez instruction booklet SIMPLE IRAs, Savings Incentive Match Plans for Employees (SIMPLE), Two-year rule. 1040ez instruction booklet Contributions, How Are Contributions Made?, How Much Can Be Contributed on Your Behalf? Conversion from, Converting from a SIMPLE IRA. 1040ez instruction booklet Distributions, Are Distributions Taxable? Early distributions, , Additional Tax on Early Distributions Eligible employees, Eligible Employees Penalties, Additional Tax on Early Distributions Recharacterizing to, Recharacterizing to a SEP IRA or SIMPLE IRA. 1040ez instruction booklet Rollovers, Rollovers and Transfers Exception Salary reduction contribution limits, Salary reduction contributions limit. 1040ez instruction booklet Self-employed persons, Self-employed individual. 1040ez instruction booklet SIMPLE plan, defined, What Is a SIMPLE Plan? Traditional IRA, mistakenly moved to, Traditional IRA mistakenly moved to SIMPLE IRA. 1040ez instruction booklet , Traditional IRA mistakenly moved to SIMPLE IRA. 1040ez instruction booklet Two-year rule, Two-year rule. 1040ez instruction booklet Withdrawing or using assets, When Can You Withdraw or Use Assets? Simplified employee pensions (SEPs), Simplified Employee Pension (SEP) Social Security recipients, Social Security Recipients Spousal IRAs (see Kay Bailey Hutchison Spousal IRAs or Inherited IRAs) Students Education expenses, Higher education expenses. 1040ez instruction booklet Retirement savings contributions credit, Full-time student. 1040ez instruction booklet Surviving spouse, Surviving spouse. 1040ez instruction booklet , Surviving spouse. 1040ez instruction booklet Rollovers by, Distributions received by a surviving spouse. 1040ez instruction booklet T Tables Modified AGI Employer retirement plan coverage and deduction (Table 1-2), Table 1-2. 1040ez instruction booklet Effect of Modified AGI1 on Deduction if You Are Covered by a Retirement Plan at Work No employer retirement plan coverage and deduction (Table 1-3), Table 1-3. 1040ez instruction booklet Effect of Modified AGI1 on Deduction if You Are NOT Covered by a Retirement Plan at Work Roth IRAs, effect on contribution (Table 2-1), Table 2-1. 1040ez instruction booklet Effect of Modified AGI on Roth IRA Contribution Rollover vs. 1040ez instruction booklet direct payment to taxpayer (Table 1-5), Table 1-5. 1040ez instruction booklet Comparison of Payment to You Versus Direct Rollover Using this publication (Table I-1), Table I-1. 1040ez instruction booklet Using This Publication Tax advantages of IRAs, What are some tax advantages of an IRA? Tax credits Retirement savings contributions credit, Retirement Savings Contributions Credit (Saver's Credit), How to figure and report the credit. 1040ez instruction booklet Tax help, How To Get Tax Help Tax year, Tax year. 1040ez instruction booklet Tax-sheltered annuities Rollovers from, Distribution from a tax-sheltered annuity. 1040ez instruction booklet Traditional IRAs, Traditional IRAs, Form 5329 not required. 1040ez instruction booklet Age 59 1/2 rule, Age 59½ Rule Contribution limits, How Much Can Be Contributed?, More Than Maximum Contributions Contributions, How Much Can Be Contributed?, More Than Maximum Contributions Due date, Contributions must be made by due date. 1040ez instruction booklet To Roth IRAs and to traditional IRAs, Roth IRAs and traditional IRAs. 1040ez instruction booklet Converting into Roth IRA, Converting From Any Traditional IRA Into a Roth IRA Cost basis, Cost basis. 1040ez instruction booklet Deductions, How Much Can You Deduct?, Examples — Worksheet for Reduced IRA Deduction for 2013 Defined, Introduction Disclosures, Required Disclosures Excess contributions, Excess Contributions Inherited IRAs, What if You Inherit an IRA?, More information. 1040ez instruction booklet Loss of IRA status, Loss of IRA status. 1040ez instruction booklet Losses, Recognizing Losses on Traditional IRA Investments Mistakenly moved to SIMPLE IRA, Traditional IRA mistakenly moved to SIMPLE IRA. 1040ez instruction booklet , Traditional IRA mistakenly moved to SIMPLE IRA. 1040ez instruction booklet Recordkeeping, Nondeductible Contributions Reduced IRA deduction for 2013, Examples — Worksheet for Reduced IRA Deduction for 2013 Rollovers (see Rollovers) Setting up, Who Can Open a Traditional IRA?, Required Disclosures Social Security recipients, Social Security Recipients Transfers, Can You Move Retirement Plan Assets? Types of, Kinds of traditional IRAs. 1040ez instruction booklet Withdrawing or using assets, When Can You Withdraw or Use Assets?, Excess Contributions Tax Transfers, Can You Move Retirement Plan Assets? Divorce, Transfers Incident To Divorce To Roth IRAs, Transfers to Roth IRAs. 1040ez instruction booklet , Can You Move Amounts Into a Roth IRA? Trustee to trustee, Trustee-to-Trustee Transfer, Conversion methods. 1040ez instruction booklet Trustee-to-trustee transfers, Trustee-to-Trustee Transfer To Roth IRAs, Conversion methods. 1040ez instruction booklet Trustees' fees, Trustees' fees. 1040ez instruction booklet , Trustees' fees. 1040ez instruction booklet Trusts As beneficiary, Trust as beneficiary. 1040ez instruction booklet TTY/TDD information, How To Get Tax Help Two-year rule SIMPLE IRAs, Two-year rule. 1040ez instruction booklet U Unreimbursed medical expenses, Unreimbursed medical expenses. 1040ez instruction booklet V Volunteer firefighters, Volunteer firefighters. 1040ez instruction booklet W Withdrawing or using assets Contribution withdrawal, before due date of return, Contributions Returned Before Due Date of Return Roth IRAs, Must You Withdraw or Use Assets? SIMPLE IRAs, When Can You Withdraw or Use Assets? Traditional IRAs, When Can You Withdraw or Use Assets?, Excess Contributions Tax Withholding, Reporting and Withholding Requirements for Taxable Amounts, Withholding. 1040ez instruction booklet Direct rollover option, Withholding. 1040ez instruction booklet Eligible rollover distribution paid to taxpayer, Withholding requirement. 1040ez instruction booklet Worksheets Figuring amount of net income due to IRA contribution and total amount to be recharacterized (Worksheet 1-3), Worksheet 1-3. 1040ez instruction booklet Determining the Amount of Net Income Due To an IRA Contribution and Total Amount To Be Recharacterized Figuring modified AGI (Worksheet 1-1), Worksheet 1-1. 1040ez instruction booklet Figuring Your Modified AGI Roth IRAs Figuring modified AGI (Worksheet 2-1), Worksheet 2-1. 1040ez instruction booklet Modified Adjusted Gross Income for Roth IRA Purposes Prev  Up     Home   More Online Publications
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Page Last Reviewed or Updated: 27-Mar-2014

The 1040ez Instruction Booklet

1040ez instruction booklet Internal Revenue Bulletin:  2011-12  March 21, 2011  Rev. 1040ez instruction booklet Proc. 1040ez instruction booklet 2011-21 Table of Contents SECTION 1. 1040ez instruction booklet PURPOSE SECTION 2. 1040ez instruction booklet BACKGROUND SECTION 3. 1040ez instruction booklet SCOPE SECTION 4. 1040ez instruction booklet APPLICATION SECTION 5. 1040ez instruction booklet EFFECTIVE DATE SECTION 6. 1040ez instruction booklet EFFECT ON OTHER DOCUMENTS SECTION 7. 1040ez instruction booklet DRAFTING INFORMATION SECTION 1. 1040ez instruction booklet PURPOSE This revenue procedure provides: (1) limitations on depreciation deductions for owners of passenger automobiles first placed in service by the taxpayer during calendar year 2011, including separate tables of limitations on depreciation deductions for trucks and vans; (2) the amounts that must be included in income by lessees of passenger automobiles first leased by the taxpayer during calendar year 2011, including a separate table of inclusion amounts for lessees of trucks and vans; and (3) revised tables of depreciation limitations and lessee inclusion amounts for passenger automobiles that were first placed in service or first leased by the taxpayer, respectively, during 2010 and to which the 50 percent additional first year depreciation deduction under § 168(k)(1)(A) of the Internal Revenue Code or the 100 percent additional first year depreciation deduction under § 168(k)(5) applies. 1040ez instruction booklet The tables detailing these depreciation limitations and lessee inclusion amounts reflect the automobile price inflation adjustments required by § 280F(d)(7). 1040ez instruction booklet SECTION 2. 1040ez instruction booklet BACKGROUND . 1040ez instruction booklet 01 For owners of passenger automobiles, § 280F(a) imposes dollar limitations on the depreciation deduction for the year the taxpayer places the passenger automobile in service and for each succeeding year. 1040ez instruction booklet For passenger automobiles placed in service after 1988, § 280F(d)(7) requires the Internal Revenue Service to increase the amounts allowable as depreciation deductions by a price inflation adjustment amount. 1040ez instruction booklet The method of calculating this price inflation amount for trucks and vans placed in service in or after calendar year 2003 uses a different CPI “automobile component” (the “new trucks” component) than that used in the price inflation amount calculation for other passenger automobiles (the “new cars” component), resulting in somewhat higher depreciation deductions for trucks and vans. 1040ez instruction booklet This change reflects the higher rate of price inflation for trucks and vans since 1988. 1040ez instruction booklet . 1040ez instruction booklet 02 Section 2022(a) of the Small Business Jobs Act of 2010, Pub. 1040ez instruction booklet L. 1040ez instruction booklet No. 1040ez instruction booklet 111-240, 124 Stat. 1040ez instruction booklet 2504 (September 27, 2010), extended the 50 percent additional first year depreciation deduction under § 168(k) to qualified property (as defined in § 168(k)(2)) acquired by the taxpayer after December 31, 2007, and before January 1, 2011, if no written binding contract for the acquisition of the property existed before January 1, 2008, and if the taxpayer places the property in service generally before January 1, 2011. 1040ez instruction booklet Section 401(a) of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, Pub. 1040ez instruction booklet L. 1040ez instruction booklet No. 1040ez instruction booklet 111-312, 124 Stat. 1040ez instruction booklet 3296 (Dec. 1040ez instruction booklet 17, 2010) (the “Act”) further extended the 50 percent additional first year depreciation deduction under § 168(k) to qualified property acquired by the taxpayer after December 31, 2007, and before January 1, 2013, if no written binding contract for the acquisition of the property existed before January 1, 2008, and if the taxpayer places the property in service generally before January 1, 2013. 1040ez instruction booklet Section 401(b) of the Act further amended § 168(k) by adding § 168(k)(5). 1040ez instruction booklet It allows a 100 percent additional first year depreciation deduction for qualified property acquired by a taxpayer after September 8, 2010, and before January 1, 2012, if the taxpayer places the property in service generally before January 1, 2012. 1040ez instruction booklet Section 168(k)(2)(F)(i) increases the first year depreciation allowed under § 280F(a)(1)(A)(i) by $8,000 for passenger automobiles to which the additional first year depreciation deduction under § 168(k) (hereinafter, referred to as “§ 168(k) additional first year depreciation deduction”) applies. 1040ez instruction booklet . 1040ez instruction booklet 03 Section 168(k)(2)(D)(i) provides that the § 168(k) additional first year depreciation deduction does not apply to any property required to be depreciated under the alternative depreciation system of § 168(g), including property described in § 280F(b)(1). 1040ez instruction booklet Section 168(k)(2)(D)(iii) permits a taxpayer to elect out of the § 168(k) additional first year depreciation deduction for any class of property. 1040ez instruction booklet Section 168(k)(4), as amended by the Act, permits a corporation to elect to increase the alternative minimum tax (“AMT”) credit limitation under § 53(c), instead of claiming the § 168(k) additional first year depreciation deduction for all eligible qualified property placed in service after December 31, 2010, that is round 2 extension property (as defined in § 168(k)(4)(I)(iv). 1040ez instruction booklet Accordingly, this revenue procedure provides tables for passenger automobiles for which the § 168(k) additional first year depreciation deduction applies. 1040ez instruction booklet This revenue procedure also provides tables for passenger automobiles for which the § 168(k) additional first year depreciation deduction does not apply, either because taxpayer (1) purchased the passenger automobile used; (2) did not use the passenger automobile during 2011 more than 50 percent for business purposes; (3) elected out of the § 168(k) additional first year depreciation deduction pursuant to § 168(k)(2)(D)(iii); or (4) elected to increase the § 53 AMT credit limitation in lieu of claiming § 168(k) additional first year depreciation. 1040ez instruction booklet . 1040ez instruction booklet 04 Section 280F(c) requires a reduction in the deduction allowed to the lessee of a leased passenger automobile. 1040ez instruction booklet The reduction must be substantially equivalent to the limitations on the depreciation deductions imposed on owners of passenger automobiles. 1040ez instruction booklet Under § 1. 1040ez instruction booklet 280F-7(a) of the Income Tax Regulations, this reduction requires a lessee to include in gross income an amount determined by applying a formula to the amount obtained from a table. 1040ez instruction booklet One table applies to lessees of trucks and vans and another table applies to all other passenger automobiles. 1040ez instruction booklet Each table shows inclusion amounts for a range of fair market values for each taxable year after the passenger automobile is first leased. 1040ez instruction booklet SECTION 3. 1040ez instruction booklet SCOPE . 1040ez instruction booklet 01 The limitations on depreciation deductions in section 4. 1040ez instruction booklet 01(2) of this revenue procedure apply to passenger automobiles (other than leased passenger automobiles) that are placed in service by the taxpayer in calendar year 2011, and continue to apply for each taxable year that the passenger automobile remains in service. 1040ez instruction booklet . 1040ez instruction booklet 02 The tables in section 4. 1040ez instruction booklet 02 of this revenue procedure apply to leased passenger automobiles for which the lease term begins during calendar year 2011. 1040ez instruction booklet Lessees of these passenger automobiles must use these tables to determine the inclusion amount for each taxable year during which the passenger automobile is leased. 1040ez instruction booklet See Rev. 1040ez instruction booklet Proc. 1040ez instruction booklet 2006-18, 2006-1 C. 1040ez instruction booklet B. 1040ez instruction booklet 645, for passenger automobiles first leased during calendar year 2006; Rev. 1040ez instruction booklet Proc. 1040ez instruction booklet 2007-30, 2007-1 C. 1040ez instruction booklet B. 1040ez instruction booklet 1104, for passenger automobiles first leased during calendar year 2007; Rev. 1040ez instruction booklet Proc. 1040ez instruction booklet 2008-22, 2008-1 C. 1040ez instruction booklet B. 1040ez instruction booklet 658, for passenger automobiles first leased during calendar year 2008; Rev. 1040ez instruction booklet Proc. 1040ez instruction booklet 2009-24, 2009-1 C. 1040ez instruction booklet B. 1040ez instruction booklet 885, for passenger automobiles first leased during calendar year 2009; and Rev. 1040ez instruction booklet Proc. 1040ez instruction booklet 2010-18, 2010-1 C. 1040ez instruction booklet B. 1040ez instruction booklet 427, as amplified and modified by section 4. 1040ez instruction booklet 03 of this revenue procedure, for passenger automobiles first leased during calendar year 2010. 1040ez instruction booklet SECTION 4. 1040ez instruction booklet APPLICATION . 1040ez instruction booklet 01 Limitations on Depreciation Deductions for Certain Automobiles. 1040ez instruction booklet (1) Amount of the inflation adjustment. 1040ez instruction booklet (a) Passenger automobiles (other than trucks or vans). 1040ez instruction booklet Under § 280F(d)(7)(B)(i), the automobile price inflation adjustment for any calendar year is the percentage (if any) by which the CPI automobile component for October of the preceding calendar year exceeds the CPI automobile component for October 1987. 1040ez instruction booklet Section 280F(d)(7)(B)(ii) defines the term “CPI automobile component” as the automobile component of the Consumer Price Index for all Urban Consumers published by the Department of Labor. 1040ez instruction booklet The new car component of the CPI was 115. 1040ez instruction booklet 2 for October 1987 and 137. 1040ez instruction booklet 880 for October 2010. 1040ez instruction booklet The October 2010 index exceeded the October 1987 index by 22. 1040ez instruction booklet 680. 1040ez instruction booklet Therefore, the automobile price inflation adjustment for 2011 for passenger automobiles (other than trucks and vans) is 19. 1040ez instruction booklet 69 percent (22. 1040ez instruction booklet 680/115. 1040ez instruction booklet 2 x 100%). 1040ez instruction booklet The dollar limitations in § 280F(a) are multiplied by a factor of 0. 1040ez instruction booklet 1969, and the resulting increases, after rounding to the nearest $100, are added to the 1988 limitations to give the depreciation limitations applicable to passenger automobiles (other than trucks and vans) for calendar year 2011. 1040ez instruction booklet This adjustment applies to all passenger automobiles (other than trucks and vans) that are first placed in service in calendar year 2011. 1040ez instruction booklet (b) Trucks and vans. 1040ez instruction booklet To determine the dollar limitations for trucks and vans first placed in service during calendar year 2011, the Service uses the new truck component of the CPI instead of the new car component. 1040ez instruction booklet The new truck component of the CPI was 112. 1040ez instruction booklet 4 for October 1987 and 142. 1040ez instruction booklet 556 for October 2010. 1040ez instruction booklet The October 2010 index exceeded the October 1987 index by 30. 1040ez instruction booklet 156. 1040ez instruction booklet Therefore, the automobile price inflation adjustment for 2011 for trucks and vans is 26. 1040ez instruction booklet 83 percent (30. 1040ez instruction booklet 156/112. 1040ez instruction booklet 4 x 100%). 1040ez instruction booklet The dollar limitations in § 280F(a) are multiplied by a factor of 0. 1040ez instruction booklet 2683, and the resulting increases, after rounding to the nearest $100, are added to the 1988 limitations to give the depreciation limitations for trucks and vans. 1040ez instruction booklet This adjustment applies to all trucks and vans that are first placed in service in calendar year 2011. 1040ez instruction booklet (2) Amount of the limitation. 1040ez instruction booklet Tables 1 through 4 contain the dollar amount of the depreciation limitation for each taxable year for passenger automobiles a taxpayer places in service in calendar year 2011. 1040ez instruction booklet Use Table 1 for a passenger automobile (other than a truck or van), and Table 2 for a truck or van, placed in service in calendar year 2011 for which the § 168(k) additional first year depreciation deduction applies. 1040ez instruction booklet Use Table 3 for a passenger automobile (other than a truck or van), and Table 4 for a truck or van, placed in service in calendar year 2011 for which the § 168(k) additional first year depreciation deduction does not apply. 1040ez instruction booklet The Service intends to issue additional guidance addressing the interaction between the 100 percent additional first year depreciation deduction and § 280F(a) for the taxable years subsequent to the first taxable year. 1040ez instruction booklet REV. 1040ez instruction booklet PROC. 1040ez instruction booklet 2011-21 TABLE 1 DEPRECIATION LIMITATIONS FOR PASSENGER AUTOMOBILES (THAT ARE NOT TRUCKS OR VANS) PLACED IN SERVICE IN CALENDAR YEAR 2011 FOR WHICH THE § 168(k) ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION APPLIES Tax Year Amount 1st Tax Year $11,060 2nd Tax Year $4,900 3rd Tax Year $2,950 Each Succeeding Year $1,775 REV. 1040ez instruction booklet PROC. 1040ez instruction booklet 2011-21 TABLE 2 DEPRECIATION LIMITATIONS FOR TRUCKS AND VANS PLACED IN SERVICE IN CALENDAR YEAR 2011 FOR WHICH THE § 168(k) ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION APPLIES Tax Year Amount 1st Tax Year $11,260 2nd Tax Year $5,200 3rd Tax Year $3,150 Each Succeeding Year $1,875 REV. 1040ez instruction booklet PROC. 1040ez instruction booklet 2011-21 TABLE 3 DEPRECIATION LIMITATIONS FOR PASSENGER AUTOMOBILES (THAT ARE NOT TRUCKS OR VANS) PLACED IN SERVICE IN CALENDAR YEAR 2011 FOR WHICH THE § 168(k) ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION DOES NOT APPLY Tax Year Amount 1st Tax Year $3,060 2nd Tax Year $4,900 3rd Tax Year $2,950 Each Succeeding Year $1,775 REV. 1040ez instruction booklet PROC. 1040ez instruction booklet 2011-21 TABLE 4 DEPRECIATION LIMITATIONS FOR TRUCKS AND VANS PLACED IN SERVICE IN CALENDAR YEAR 2011 FOR WHICH THE § 168(k) ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION DOES NOT APPLY Tax Year Amount 1st Tax Year $3,260 2nd Tax Year $5,200 3rd Tax Year $3,150 Each Succeeding Year $1,875 . 1040ez instruction booklet 02 Inclusions in Income of Lessees of Passenger Automobiles. 1040ez instruction booklet A taxpayer must follow the procedures in § 1. 1040ez instruction booklet 280F-7(a) for determining the inclusion amounts for passenger automobiles first leased in calendar year 2011. 1040ez instruction booklet In applying these procedures, lessees of passenger automobiles other than trucks and vans should use Table 5 of this revenue procedure, while lessees of trucks and vans should use Table 6 of this revenue procedure. 1040ez instruction booklet REV. 1040ez instruction booklet PROC. 1040ez instruction booklet 2011-21 TABLE 5 DOLLAR AMOUNTS FOR PASSENGER AUTOMOBILES (THAT ARE NOT TRUCKS OR VANS) WITH A LEASE TERM BEGINNING IN CALENDAR YEAR 2011 Fair Market Value of Passenger Automobile Tax Year During Lease Over Not Over 1st 2nd 3rd 4th 5th & later $18,500 $19,000 3 8 11 13 16 19,000 19,500 4 9 13 15 18 19,500 20,000 4 10 15 17 20 20,000 20,500 5 11 16 19 23 20,500 21,000 5 12 18 21 25 21,000 21,500 6 13 19 24 26 21,500 22,000 6 14 21 26 29 22,000 23,000 7 16 23 29 32 23,000 24,000 8 18 27 32 37 24,000 25,000 9 20 30 36 42 25,000 26,000 10 23 33 40 46 26,000 27,000 11 25 36 44 51 27,000 28,000 12 27 40 48 55 28,000 29,000 13 29 43 52 60 29,000 30,000 14 31 47 55 65 30,000 31,000 15 34 49 60 69 31,000 32,000 16 36 53 63 73 32,000 33,000 17 38 56 68 77 33,000 34,000 18 40 60 71 82 34,000 35,000 19 42 63 75 87 35,000 36,000 20 45 66 79 91 36,000 37,000 21 47 69 83 96 37,000 38,000 22 49 73 87 100 38,000 39,000 23 51 76 91 105 39,000 40,000 24 53 80 94 110 40,000 41,000 25 56 82 99 114 41,000 42,000 26 58 86 102 119 42,000 43,000 27 60 89 107 123 43,000 44,000 28 62 93 110 128 44,000 45,000 29 64 96 114 133 45,000 46,000 30 67 98 119 137 46,000 47,000 31 69 102 122 141 47,000 48,000 32 71 105 127 145 48,000 49,000 33 73 109 130 150 49,000 50,000 34 76 111 134 155 50,000 51,000 35 78 115 138 159 51,000 52,000 36 80 118 142 164 52,000 53,000 37 82 122 146 168 53,000 54,000 38 84 125 150 173 54,000 55,000 39 87 128 153 178 55,000 56,000 40 89 131 158 182 56,000 57,000 41 91 135 161 187 57,000 58,000 42 93 138 166 191 58,000 59,000 43 95 142 169 196 59,000 60,000 44 98 144 174 200 60,000 62,000 46 101 149 179 207 62,000 64,000 48 105 156 187 216 64,000 66,000 50 109 163 195 225 66,000 68,000 52 114 169 203 234 68,000 70,000 54 118 176 211 243 70,000 72,000 56 123 182 218 253 72,000 74,000 58 127 189 226 262 74,000 76,000 60 132 195 234 270 76,000 78,000 62 136 202 242 279 78,000 80,000 64 140 209 250 288 80,000 85,000 67 148 220 264 304 85,000 90,000 72 159 237 283 327 90,000 95,000 77 170 253 303 350 95,000 100,000 82 181 269 323 372 100,000 110,000 90 198 293 352 406 110,000 120,000 100 220 326 391 452 120,000 130,000 110 242 359 430 497 130,000 140,000 120 264 392 469 543 140,000 150,000 130 286 424 509 588 150,000 160,000 140 308 457 548 633 160,000 170,000 150 330 490 587 679 170,000 180,000 160 352 523 626 724 180,000 190,000 170 374 555 666 769 190,000 200,000 180 396 588 705 815 200,000 210,000 190 418 621 744 860 210,000 220,000 200 440 654 784 904 220,000 230,000 210 462 687 823 950 230,000 240,000 220 484 719 863 995 240,000 And up 230 506 752 902 1,040 REV. 1040ez instruction booklet PROC. 1040ez instruction booklet 2011-21 TABLE 6 DOLLAR AMOUNTS FOR TRUCKS AND VANS WITH A LEASE TERM BEGINNING IN CALENDAR YEAR 2011 Fair Market Value of Truck or Van Tax Year During Lease Over Not Over 1st 2nd 3rd 4th 5th & later $19,000 $19,500 3 7 9 12 13 19,500 20,000 3 8 11 14 15 20,000 20,500 4 9 13 15 18 20,500 21,000 4 10 15 17 20 21,000 21,500 5 11 16 20 22 21,500 22,000 5 12 18 22 24 22,000 23,000 6 14 20 24 29 23,000 24,000 7 16 24 28 32 24,000 25,000 8 18 27 32 37 25,000 26,000 9 20 31 36 41 26,000 27,000 10 23 33 40 46 27,000 28,000 11 25 37 43 51 28,000 29,000 12 27 40 48 55 29,000 30,000 13 29 43 52 60 30,000 31,000 14 31 47 56 64 31,000 32,000 15 34 49 60 69 32,000 33,000 16 36 53 63 74 33,000 34,000 17 38 56 68 78 34,000 35,000 18 40 60 71 83 35,000 36,000 19 43 62 76 87 36,000 37,000 20 45 66 79 92 37,000 38,000 21 47 69 83 97 38,000 39,000 22 49 73 87 101 39,000 40,000 23 51 76 91 105 40,000 41,000 24 54 79 95 109 41,000 42,000 25 56 82 99 114 42,000 43,000 26 58 86 103 118 43,000 44,000 27 60 89 107 123 44,000 45,000 28 62 93 110 128 45,000 46,000 29 65 95 115 132 46,000 47,000 30 67 99 118 137 47,000 48,000 31 69 102 123 141 48,000 49,000 32 71 106 126 146 49,000 50,000 33 73 109 130 151 50,000 51,000 34 76 112 134 155 51,000 52,000 35 78 115 138 160 52,000 53,000 36 80 118 143 164 53,000 54,000 37 82 122 146 169 54,000 55,000 38 84 125 150 173 55,000 56,000 39 87 128 154 177 56,000 57,000 40 89 131 158 182 57,000 58,000 41 91 135 162 186 58,000 59,000 42 93 138 166 191 59,000 60,000 43 95 142 169 196 60,000 62,000 45 99 146 175 203 62,000 64,000 47 103 153 183 212 64,000 66,000 49 107 160 191 221 66,000 68,000 51 112 166 199 229 68,000 70,000 53 116 173 206 239 70,000 72,000 55 121 179 214 248 72,000 74,000 57 125 186 222 257 74,000 76,000 59 129 192 231 266 76,000 78,000 61 134 198 239 275 78,000 80,000 63 138 205 246 285 80,000 85,000 66 146 217 260 300 85,000 90,000 71 157 233 280 322 90,000 95,000 76 168 250 299 345 95,000 100,000 81 179 266 319 368 100,000 110,000 89 196 290 348 402 110,000 120,000 99 218 323 387 447 120,000 130,000 109 240 355 427 493 130,000 140,000 119 262 388 466 538 140,000 150,000 129 284 421 505 583 150,000 160,000 139 306 454 544 629 160,000 170,000 149 328 487 583 674 170,000 180,000 159 350 519 623 719 180,000 190,000 169 372 552 662 765 190,000 200,000 179 394 585 701 810 200,000 210,000 189 416 618 740 856 210,000 220,000 199 438 651 779 901 220,000 230,000 209 460 683 819 946 230,000 240,000 219 482 716 858 992 240,000 And up 229 504 749 897 1,037 . 1040ez instruction booklet 03 Revised Amounts for Passenger Automobiles Placed in Service During 2010. 1040ez instruction booklet (1) Calculation of the Revised Amount. 1040ez instruction booklet The revised depreciation limits provided in this section 4. 1040ez instruction booklet 03 were calculated by increasing the existing limitations on the first year allowance in Rev. 1040ez instruction booklet Proc. 1040ez instruction booklet 2010-18 by $8,000 as provided in § 168(k)(2)(F)(i). 1040ez instruction booklet (2) Amount of the Revised Limitation. 1040ez instruction booklet For passenger automobiles (that are not trucks or vans) placed in service by the taxpayer in calendar year 2010 for which the § 168(k) additional first year depreciation deduction applies, Table 7 of this revenue procedure contains the revised dollar amount of the depreciation limitations for each taxable year. 1040ez instruction booklet For trucks or vans placed in service by the taxpayer in calendar year 2010 for which the § 168(k) additional first year depreciation deduction applies, Table 8 of this revenue procedure contains the revised dollar amount of the depreciation limitations for each taxable year. 1040ez instruction booklet If the § 168(k) additional first year depreciation deduction does not apply to a passenger automobile placed in service by the taxpayer in calendar year 2010, the depreciation limitations for each taxable year in Tables 1 and 2 of Rev. 1040ez instruction booklet Proc. 1040ez instruction booklet 2010-18 apply. 1040ez instruction booklet REV. 1040ez instruction booklet PROC. 1040ez instruction booklet 2011-21 TABLE 7 DEPRECIATION LIMITATIONS FOR PASSENGER AUTOMOBILES (THAT ARE NOT TRUCKS OR VANS) PLACED IN SERVICE IN CALENDAR YEAR 2010 FOR WHICH THE § 168(k) ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION APPLIES Tax Year Amount 1st Tax Year $11,060 2nd Tax Year $4,900 3rd Tax Year $2,950 Each Succeeding Year $1,775 REV. 1040ez instruction booklet PROC. 1040ez instruction booklet 2011-21 TABLE 8 DEPRECIATION LIMITATIONS FOR TRUCKS AND VANS PLACED IN SERVICE IN CALENDAR YEAR 2010 FOR WHICH THE § 168(k) ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION APPLIES Tax Year Amount 1st Tax Year $11,160 2nd Tax Year $5,100 3rd Tax Year $3,050 Each Succeeding Year $1,875 (3) Modification to lease inclusion amounts for 2010. 1040ez instruction booklet The lease inclusion amounts in Tables 3 and 4 of Rev. 1040ez instruction booklet Proc. 1040ez instruction booklet 2010-18 are modified by striking the first four lines of the inclusion amounts in each table. 1040ez instruction booklet Consequently, Table 3 of Rev. 1040ez instruction booklet Proc. 1040ez instruction booklet 2010-18 applies to passenger automobiles (other than trucks and vans) that are first leased by the taxpayer in calendar year 2010 with a fair market value over $18,500, and Table 4 of Rev. 1040ez instruction booklet Proc. 1040ez instruction booklet 2010-18 applies to trucks and vans that are first leased by the taxpayer in calendar year 2010 with a fair market value over $19,000. 1040ez instruction booklet SECTION 5. 1040ez instruction booklet EFFECTIVE DATE This revenue procedure, with the exception of section 4. 1040ez instruction booklet 03, applies to passenger automobiles that a taxpayer first places in service or first leases during calendar year 2011. 1040ez instruction booklet Section 4. 1040ez instruction booklet 03 of this revenue procedure applies to passenger automobiles that a taxpayer first places in service or first leases during calendar year 2010. 1040ez instruction booklet SECTION 6. 1040ez instruction booklet EFFECT ON OTHER DOCUMENTS Rev. 1040ez instruction booklet Proc. 1040ez instruction booklet 2010-18 is amplified and modified. 1040ez instruction booklet SECTION 7. 1040ez instruction booklet DRAFTING INFORMATION The principal author of this revenue procedure is Bernard P. 1040ez instruction booklet Harvey of the Office of Associate Chief Counsel (Income Tax & Accounting). 1040ez instruction booklet For further information regarding this revenue procedure, contact Mr. 1040ez instruction booklet Harvey at (202) 622-4930 (not a toll-free call). 1040ez instruction booklet Prev  Up  Next   Home   More Internal Revenue Bulletins