1040ezform

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1040ezform

1040ezform 33. 1040ezform   Credit for the Elderly or the Disabled Table of Contents Introduction Useful Items - You may want to see: Are You Eligible for the Credit?Qualified Individual Income Limits How to Claim the CreditCredit Figured for You Credit Figured by You Introduction If you qualify, you may be able to reduce the tax you owe by taking the credit for the elderly or the disabled which is figured on Schedule R (Form 1040A or 1040). 1040ezform This chapter explains the following. 1040ezform Who qualifies for the credit for the elderly or the disabled. 1040ezform How to claim the credit. 1040ezform You may be able to take the credit for the elderly or the disabled if: You are age 65 or older at the end of 2013, or You retired on permanent and total disability and have taxable disability income. 1040ezform Useful Items - You may want to see: Publication 524 Credit for the Elderly or the Disabled 554 Tax Guide for Seniors Form (and Instruction) Schedule R (Form 1040A or 1040) Credit for the Elderly or the Disabled Are You Eligible for the Credit? You can take the credit for the elderly or the disabled if you meet both of the following requirements. 1040ezform You are a qualified individual. 1040ezform Your income is not more than certain limits. 1040ezform You can use Figure 33-A and Table 33-1 as guides to see if you are eligible for the credit. 1040ezform Use Figure 33-A first to see if you are a qualified individual. 1040ezform If you are, go to Table 33-1 to make sure your income is not too high to take the credit. 1040ezform You can take the credit only if you file Form 1040 or Form 1040A. 1040ezform You cannot take the credit if you file Form 1040EZ. 1040ezform Qualified Individual You are a qualified individual for this credit if you are a U. 1040ezform S. 1040ezform citizen or resident alien, and either of the following applies. 1040ezform You were age 65 or older at the end of 2013. 1040ezform You were under age 65 at the end of 2013 and all three of the following statements are true. 1040ezform You retired on permanent and total disability (explained later). 1040ezform You received taxable disability income for 2013. 1040ezform On January 1, 2013, you had not reached mandatory retirement age (defined later under Disability income ). 1040ezform Age 65. 1040ezform   You are considered to be age 65 on the day before your 65th birthday. 1040ezform Therefore, if you were born on January 1, 1949, you are considered to be age 65 at the end of 2013. 1040ezform U. 1040ezform S. 1040ezform Citizen or Resident Alien You must be a U. 1040ezform S. 1040ezform citizen or resident alien (or be treated as a resident alien) to take the credit. 1040ezform Generally, you cannot take the credit if you were a nonresident alien at any time during the tax year. 1040ezform Exceptions. 1040ezform   You may be able to take the credit if you are a nonresident alien who is married to a U. 1040ezform S. 1040ezform citizen or resident alien at the end of the tax year and you and your spouse choose to treat you as a U. 1040ezform S. 1040ezform resident alien. 1040ezform If you make that choice, both you and your spouse are taxed on your worldwide incomes. 1040ezform If you were a nonresident alien at the beginning of the year and a resident alien at the end of the year, and you were married to a U. 1040ezform S. 1040ezform citizen or resident alien at the end of the year, you may be able to choose to be treated as a U. 1040ezform S. 1040ezform resident alien for the entire year. 1040ezform In that case, you may be allowed to take the credit. 1040ezform For information on these choices, see chapter 1 of Publication 519, U. 1040ezform S. 1040ezform Tax Guide for Aliens. 1040ezform Married Persons Generally, if you are married at the end of the tax year, you and your spouse must file a joint return to take the credit. 1040ezform However, if you and your spouse did not live in the same household at any time during the tax year, you can file either a joint return or separate returns and still take the credit. 1040ezform Head of household. 1040ezform   You can file as head of household and qualify to take the credit, even if your spouse lived with you during the first 6 months of the year, if you meet certain tests. 1040ezform See Head of Household in chapter 2 for the tests you must meet. 1040ezform Under Age 65 If you are under age 65 at the end of 2013, you can qualify for the credit only if you are retired on permanent and total disability (discussed next) and have taxable disability income (discussed later under Disability income ). 1040ezform You are retired on permanent and total disability if: You were permanently and totally disabled when you retired, and You retired on disability before the close of the tax year. 1040ezform Even if you do not retire formally, you may be considered retired on disability when you have stopped working because of your disability. 1040ezform If you retired on disability before 1977, and were not permanently and totally disabled at the time, you can qualify for the credit if you were permanently and totally disabled on January 1, 1976, or January 1, 1977. 1040ezform Permanent and total disability. 1040ezform    You are permanently and totally disabled if you cannot engage in any substantial gainful activity because of your physical or mental condition. 1040ezform A qualified physician must certify that the condition has lasted or can be expected to last continuously for 12 months or more, or that the condition can be expected to result in death. 1040ezform See Physician's statement , later. 1040ezform Substantial gainful activity. 1040ezform   Substantial gainful activity is the performance of significant duties over a reasonable period of time while working for pay or profit, or in work generally done for pay or profit. 1040ezform Full-time work (or part-time work done at your employer's convenience) in a competitive work situation for at least the minimum wage conclusively shows that you are able to engage in substantial gainful activity. 1040ezform   Substantial gainful activity is not work you do to take care of yourself or your home. 1040ezform It is not unpaid work on hobbies, institutional therapy or training, school attendance, clubs, social programs, and similar activities. 1040ezform However, doing this kind of work may show that you are able to engage in substantial gainful activity. 1040ezform    The fact that you have not worked for some time is not, of itself, conclusive evidence that you cannot engage in substantial gainful activity. 1040ezform Sheltered employment. 1040ezform   Certain work offered at qualified locations to physically or mentally impaired persons is considered sheltered employment. 1040ezform These qualified locations are in sheltered workshops, hospitals, and similar institutions, homebound programs, and Department of Veterans Affairs (VA) sponsored homes. 1040ezform   Compared to commercial employment, pay is lower for sheltered employment. 1040ezform Therefore, one usually does not look for sheltered employment if he or she can get other employment. 1040ezform The fact that one has accepted sheltered employment is not proof of the person's ability to engage in substantial gainful activity. 1040ezform Physician's statement. 1040ezform   If you are under age 65, you must have your physician complete a statement certifying that you were permanently and totally disabled on the date you retired. 1040ezform You can use the statement in the Instructions for Schedule R. 1040ezform    Figure 33-A. 1040ezform Are You a Qualified Individual? This image is too large to be displayed in the current screen. 1040ezform Please click the link to view the image. 1040ezform Figure 33-A Are You a Qualified Individual?   You do not have to file this statement with your Form 1040 or Form 1040A, but you must keep it for your records. 1040ezform Veterans. 1040ezform   If the Department of Veterans Affairs (VA) certifies that you are permanently and totally disabled, you can substitute VA Form 21-0172, Certification of Permanent and Total Disability, for the physician's statement you are required to keep. 1040ezform VA Form 21-0172 must be signed by a person authorized by the VA to do so. 1040ezform You can get this form from your local VA regional office. 1040ezform Physician's statement obtained in earlier year. 1040ezform   If you got a physician's statement in an earlier year and, due to your continued disabled condition, you were unable to engage in any substantial gainful activity during 2013, you may not need to get another physician's statement for 2013. 1040ezform For a detailed explanation of the conditions you must meet, see the instructions for Schedule R, Part II. 1040ezform If you meet the required conditions, check the box on your Schedule R, Part II, line 2. 1040ezform   If you checked box 4, 5, or 6 in Part I of Schedule R, enter in the space above the box on line 2 in Part II the first name(s) of the spouse(s) for whom the box is checked. 1040ezform Table 33-1. 1040ezform Income Limits IF your filing status is . 1040ezform . 1040ezform . 1040ezform THEN, even if you qualify (see Figure 33-A ), you CANNOT take the credit if. 1040ezform . 1040ezform . 1040ezform   Your adjusted gross income (AGI)* is equal to or more than. 1040ezform . 1040ezform . 1040ezform     OR the total of your nontaxable social security and other nontaxable pension(s), annuities, or disability income is equal to or more than. 1040ezform . 1040ezform . 1040ezform   single, head of household, or qualifying widow(er) with dependent child   $17,500     $5,000   married filing jointly and only one spouse qualifies in Figure 33-A   $20,000     $5,000   married filing jointly and both spouses qualify in Figure 33-A   $25,000     $7,500   married filing separately and you lived apart from your spouse for all of 2013   $12,500     $3,750   * AGI is the amount on Form 1040A, line 22, or Form 1040, line 38. 1040ezform Disability income. 1040ezform   If you are under age 65, you must also have taxable disability income to qualify for the credit. 1040ezform Disability income must meet both of the following requirements. 1040ezform It must be paid under your employer's accident or health plan or pension plan. 1040ezform It must be included in your income as wages (or payments instead of wages) for the time you are absent from work because of permanent and total disability. 1040ezform Payments that are not disability income. 1040ezform   Any payment you receive from a plan that does not provide for disability retirement is not disability income. 1040ezform Any lump-sum payment for accrued annual leave that you receive when you retire on disability is a salary payment and is not disability income. 1040ezform   For purposes of the credit for the elderly or the disabled, disability income does not include amounts you receive after you reach mandatory retirement age. 1040ezform Mandatory retirement age is the age set by your employer at which you would have had to retire, had you not become disabled. 1040ezform Income Limits To determine if you can claim the credit, you must consider two income limits. 1040ezform The first limit is the amount of your adjusted gross income (AGI). 1040ezform The second limit is the amount of nontaxable social security and other nontaxable pensions, annuities, or disability income you received. 1040ezform The limits are shown in Table 33-1. 1040ezform If your AGI and nontaxable pensions, annuities, or disability income are less than the income limits, you may be able to claim the credit. 1040ezform See How to Claim the Credit , later. 1040ezform If either your AGI or your nontaxable pensions, annuities, or disability income are equal to or more than the income limits, you cannot take the credit. 1040ezform How to Claim the Credit You can figure the credit yourself or the Internal Revenue Service will figure it for you. 1040ezform Credit Figured for You If you choose to have the IRS figure the credit for you, read the following discussion for the form you will file (Form 1040 or 1040A). 1040ezform If you want the IRS to figure your tax, see chapter 30. 1040ezform Form 1040. 1040ezform   If you want the IRS to figure your credit, see Form 1040 Line Entries under Tax Figured by IRS in chapter 30. 1040ezform Form 1040A. 1040ezform   If you want the IRS to figure your credit, see Form 1040A Line Entries under Tax Figured by IRS in chapter 30. 1040ezform Credit Figured by You If you choose to figure the credit yourself, fill out the front of Schedule R. 1040ezform Next, fill out Schedule R, Part III. 1040ezform If you file Form 1040A, enter the amount from Schedule R, line 22, on Form 1040A, line 30. 1040ezform If you file Form 1040, include the amount from Schedule R, line 22, on line 53; check box c, and enter “Sch R” on the line next to that box. 1040ezform For a step-by-step discussion about filling out Part III of Schedule R, see Figuring the Credit Yourself in Publication 524. 1040ezform Limit on credit. 1040ezform   The amount of the credit you can claim is generally limited to the amount of your tax. 1040ezform Use the Credit Limit Worksheet in the Instructions for Schedule R to determine if your credit is limited. 1040ezform Prev  Up  Next   Home   More Online Publications

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1040ezform 6. 1040ezform   Estimated Tax Table of Contents Who Must Make Estimated Tax Payments Estimated tax is a method used to pay tax on income that is not subject to withholding. 1040ezform This income includes self-employment income, interest, dividends, alimony, rent, gains from the sale of assets, prizes, and awards. 1040ezform Income tax generally is withheld from pensions and annuity payments you receive. 1040ezform However, if the tax withheld from your pension (or other) income is not enough, you may have to pay estimated tax. 1040ezform If you do not pay enough tax through withholding, by making estimated tax payments, or both, you may be charged a penalty. 1040ezform Who Must Make Estimated Tax Payments If you had a tax liability for 2013, you may have to pay estimated tax for 2014. 1040ezform In most cases, you must pay estimated tax for 2014 if both of the following apply. 1040ezform You expect to owe at least $1,000 in tax for 2014, after subtracting your withholding and refundable credits. 1040ezform You expect your withholding and refundable credits to be less than the smaller of: 90% of the tax to be shown on your 2014 tax return, or 100% of the tax shown on your 2013 tax return. 1040ezform The 2013 tax return must cover all 12 months. 1040ezform If all of your income will be subject to income tax withholding, you probably do not need to make estimated tax payments. 1040ezform For more information on estimated tax, see Publication 505. 1040ezform Prev  Up  Next   Home   More Online Publications