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1040nr ez download 12. 1040nr ez download   Self-Employment Tax Table of Contents What's New for 2013 What's New for 2014 Introduction Topics - This chapter discusses: Useful Items - You may want to see: Why Pay Self-Employment Tax? How To Pay Self-Employment TaxReplacing a lost social security card. 1040nr ez download Name change. 1040nr ez download Penalty for underpayment of estimated tax. 1040nr ez download Who Must Pay Self-Employment Tax?Limited partner. 1040nr ez download Community property. 1040nr ez download Figuring Self-Employment EarningsLandlord Participation in Farming Methods for Figuring Net EarningsRegular Method Farm Optional Method Nonfarm Optional Method Using Both Optional Methods Reporting Self-Employment Tax What's New for 2013 Tax rates. 1040nr ez download  For tax years beginning in 2013, the social security part of the self-employment tax increases from 10. 1040nr ez download 4% to 12. 1040nr ez download 4%. 1040nr ez download The Medicare part of the tax remains at 2. 1040nr ez download 9%. 1040nr ez download As a result, the self-employment tax is increased from 13. 1040nr ez download 3% to 15. 1040nr ez download 3%. 1040nr ez download Additional Medicare Tax. 1040nr ez download . 1040nr ez download  For tax years beginning in 2013, a 0. 1040nr ez download 9% Additional Medicare Tax applies to your Medicare wages, Railroad Retirement Tax Act (RRTA) compensation, and self-employment income above a threshold amount. 1040nr ez download Use Form 8959, Additional Medicare Tax, to figure this tax. 1040nr ez download For more information, see the Instructions for Form 8959. 1040nr ez download Maximum net earnings. 1040nr ez download  The maximum net self-employment earnings subject to the social security part (12. 1040nr ez download 4%) of the self-employment tax increased to $113,700 for 2013. 1040nr ez download There is no maximum limit on earnings subject to the Medicare part (2. 1040nr ez download 9%). 1040nr ez download What's New for 2014 Maximum net earnings. 1040nr ez download  The maximum net self-employment earnings subject to the social security part of the self-employment tax for 2014 will be discussed in the 2013 Publication 334. 1040nr ez download Introduction Self-employment tax (SE tax) is a social security and Medicare tax primarily for individuals who work for themselves. 1040nr ez download It is similar to the social security and Medicare taxes withheld from the pay of most wage earners. 1040nr ez download You usually have to pay SE tax if you are self-employed. 1040nr ez download You are usually self-employed if you operate your own farm on land you either own or rent. 1040nr ez download You have to figure SE tax on Schedule SE (Form 1040). 1040nr ez download Farmers who have employees may have to pay the employer's share of social security and Medicare taxes, as well. 1040nr ez download See chapter 13 for information on employment taxes. 1040nr ez download Self-employment tax rate. 1040nr ez download   For tax years beginning in 2013, the self-employment tax rate is 15. 1040nr ez download 3%. 1040nr ez download The rate consists of two parts: 12. 1040nr ez download 4% for social security (old-age, survivors, and disability insurance) and 2. 1040nr ez download 9% for Medicare (hospital insurance). 1040nr ez download Topics - This chapter discusses: Why pay self-employment tax How to pay self-employment tax Who must pay self-employment tax Figuring self-employment earnings Landlord participation in farming Methods for figuring net earnings Reporting self-employment tax Useful Items - You may want to see: Publication 541 Partnerships Form (and Instructions) 1040 U. 1040nr ez download S. 1040nr ez download Individual Income Tax Return Sch F (Form 1040) Profit or Loss From Farming Sch SE (Form 1040) Self-Employment Tax 1065 U. 1040nr ez download S. 1040nr ez download Return of Partnership Income Sch K-1 (Form 1065) Partner's Share of Income, Deductions, Credits, etc. 1040nr ez download See chapter 16 for information about getting publications and forms. 1040nr ez download Why Pay Self-Employment Tax? Social security benefits are available to self-employed persons just as they are to wage earners. 1040nr ez download Your payments of SE tax contribute to your coverage under the social security system. 1040nr ez download Social security coverage provides you with retirement benefits, disability benefits, survivor benefits, and hospital insurance (Medicare) benefits. 1040nr ez download How to become insured under social security. 1040nr ez download   You must be insured under the social security system before you begin receiving social security benefits. 1040nr ez download You are insured if you have the required number of credits (also called quarters of coverage). 1040nr ez download Earning credits in 2013. 1040nr ez download   You can earn a maximum of four credits per year. 1040nr ez download For 2013, you earn one credit for each $1,160 of combined wages and self-employment earnings subject to social security tax. 1040nr ez download You need $4,640 ($1,160 × 4) of combined wages and self-employment earnings subject to social security tax to earn four credits in 2013. 1040nr ez download It does not matter whether the income is earned in 1 quarter or is spread over 2 or more quarters. 1040nr ez download For an explanation of the number of credits you must have to be insured and the benefits available to you and your family under the social security program, consult your nearest Social Security Administration (SSA) office or visit the SSA website at www. 1040nr ez download socialsecurity. 1040nr ez download gov. 1040nr ez download Making false statements to get or to increase social security benefits may subject you to penalties. 1040nr ez download The Social Security Administration (SSA) time limit for posting self-employment earnings. 1040nr ez download   Generally, the SSA will give you credit only for self-employment earnings reported on a tax return filed within 3 years, 3 months, and 15 days after the tax year you earned the income. 1040nr ez download    If you file your tax return or report a change in your self-employment earnings after the SSA time limit for posting self-employment earnings, the SSA may change its records, but only to remove or reduce the amount. 1040nr ez download The SSA will not change its records to increase your self-employment earnings after the SSA time limit listed above. 1040nr ez download How To Pay Self-Employment Tax To pay SE tax, you must have a social security number (SSN) or an individual taxpayer identification number (ITIN). 1040nr ez download This section explains how to: Obtain an SSN or ITIN, and Pay your SE tax using estimated tax. 1040nr ez download An ITIN does not entitle you to social security benefits. 1040nr ez download Obtaining an ITIN does not change your immigration or employment status under U. 1040nr ez download S. 1040nr ez download law. 1040nr ez download Obtaining a social security number. 1040nr ez download   If you have never had an SSN, apply for one using Form SS-5, Application for a Social Security Card. 1040nr ez download The application is also available in Spanish. 1040nr ez download You can get this form at any Social Security office or by calling 1-800-772-1213. 1040nr ez download    You can also download Form SS-5 from the Social Security Administration website at  www. 1040nr ez download socialsecurity. 1040nr ez download gov. 1040nr ez download   If you have a social security number from the time you were an employee, you must use that number. 1040nr ez download Do not apply for a new one. 1040nr ez download Replacing a lost social security card. 1040nr ez download   If you have a number but lost your card, file Form SS-5. 1040nr ez download You will get a new card showing your original number, not a new number. 1040nr ez download Name change. 1040nr ez download   If your name has changed since you received your social security card, complete Form SS-5 to report a name change. 1040nr ez download Obtaining an individual taxpayer identification number. 1040nr ez download   The IRS will issue you an ITIN, for tax use only, if you are a nonresident or resident alien and you do not have, and are not eligible to get, an SSN. 1040nr ez download To apply for an ITIN, file Form W-7, Application for IRS Individual Taxpayer Identification Number. 1040nr ez download You can get this form by calling 1-800-829-3676. 1040nr ez download For more information on ITINs, see Publication 1915, Understanding Your IRS Individual Taxpayer Identification Number. 1040nr ez download Form W-7 and Publication 1915 are also available in Spanish. 1040nr ez download    You can also download Form W-7 from the IRS website at IRS. 1040nr ez download gov. 1040nr ez download Paying estimated tax. 1040nr ez download   Estimated tax is the method used to pay tax (including SE tax) on income not subject to withholding. 1040nr ez download You generally have to make estimated tax payments if you expect to owe tax, including SE tax, of $1,000 or more when you file your return. 1040nr ez download Use Form 1040-ES, Estimated Tax for Individuals, to figure and pay the tax. 1040nr ez download   However, if at least two-thirds of your gross income for 2013 or 2014 was from farming and you file your 2014 Form 1040 and pay all the tax due by March 2, 2015, you do not have to pay any estimated tax. 1040nr ez download For more information about estimated tax for farmers, see chapter 15. 1040nr ez download Penalty for underpayment of estimated tax. 1040nr ez download   You may have to pay a penalty if you do not pay enough estimated tax by its due date. 1040nr ez download Who Must Pay Self-Employment Tax? You must pay SE tax and file Schedule SE (Form 1040) if your net earnings from self-employment were $400 or more. 1040nr ez download The SE tax rules apply no matter how old you are and even if you are already receiving social security or Medicare benefits. 1040nr ez download Aliens. 1040nr ez download   Generally, resident aliens must pay self-employment tax under the same rules that apply to U. 1040nr ez download S. 1040nr ez download citizens. 1040nr ez download Nonresident aliens are not subject to self-employment tax. 1040nr ez download However, residents of the Virgin Islands, Puerto Rico, Guam, the Commonwealth of the Northern Mariana Islands, or American Samoa are subject to self-employment tax, as they are considered U. 1040nr ez download S. 1040nr ez download residents for self-employment tax purposes. 1040nr ez download For more information on aliens, see Publication 519, U. 1040nr ez download S. 1040nr ez download Tax Guide for Aliens. 1040nr ez download Are you self-employed?   You are self-employed if you carry on a trade or business (such as running a farm) as a sole proprietor, an independent contractor, a member of a partnership, or are otherwise in business for yourself. 1040nr ez download A trade or business is generally an activity carried on for a livelihood or in good faith to make a profit. 1040nr ez download Share farmer. 1040nr ez download   You are a self-employed farmer under an income-sharing arrangement if both the following apply. 1040nr ez download You produce a crop or raise livestock on land belonging to another person. 1040nr ez download Your share of the crop or livestock, or the proceeds from their sale, depends on the amount produced. 1040nr ez download Your net farm profit or loss from the income-sharing arrangement is reported on Schedule F (Form 1040) and included in your self-employment earnings. 1040nr ez download   If you produce a crop or livestock on land belonging to another person and are to receive a specified rate of pay, a fixed sum of money, or a fixed quantity of the crop or livestock, and not a share of the crop or livestock or their proceeds, you may be either self-employed or an employee of the landowner. 1040nr ez download This will depend on whether the landowner has the right to direct or control your performance of services. 1040nr ez download Example. 1040nr ez download A share farmer produces a crop on land owned by another person on a 50-50 crop-share basis. 1040nr ez download Under the terms of their agreement, the share farmer furnishes the labor and half the cost of seed and fertilizer. 1040nr ez download The landowner furnishes the machinery and equipment used to produce and harvest the crop, and half the cost of seed and fertilizer. 1040nr ez download The share farmer is provided a house in which to live. 1040nr ez download The landowner and the share farmer decide on a cropping plan. 1040nr ez download The share farmer is a self-employed farmer for purposes of the agreement to produce the crops, and the share farmer's part of the profit or loss from the crops is reported on Schedule F (Form 1040) and included in self-employment earnings. 1040nr ez download The tax treatment of the landowner is discussed later under Landlord Participation in Farming. 1040nr ez download Contract farming. 1040nr ez download   Under typical contract farming arrangements, the grower receives a fixed payment per unit of crops or finished livestock delivered to the processor or packing company. 1040nr ez download Since the grower typically furnishes labor and bears some production risk, the payments are reported on Schedule F and are therefore subject to self-employment tax. 1040nr ez download 4-H Club or FFA project. 1040nr ez download   If an individual participates in a 4-H Club or Future Farmers of America (FFA) project, any net income received from sales or prizes related to the project may be subject to income tax. 1040nr ez download Report the net income as “Other income” on line 21 of Form 1040. 1040nr ez download If necessary, attach a statement showing the gross income and expenses. 1040nr ez download The net income may not be subject to SE tax if the project is primarily for educational purposes and not for profit, and is completed by the individual under the rules and economic restrictions of the sponsoring 4-H or FFA organization. 1040nr ez download Such a project is generally not considered a trade or business. 1040nr ez download Partners in a partnership. 1040nr ez download   Generally, you are self-employed if you are a member of a partnership that carries on a trade or business. 1040nr ez download Limited partner. 1040nr ez download   If you are a limited partner, your partnership income is generally not subject to SE tax. 1040nr ez download However, guaranteed payments you receive for services you perform for the partnership are subject to SE tax and should be reported to you in box 14 of your Schedule K-1 (Form 1065). 1040nr ez download Business Owned and Operated by Spouses. 1040nr ez download   If you and your spouse jointly own and operate a farm as an unincorporated business and share in the profits and losses, you are partners in a partnership whether or not you have a formal partnership agreement. 1040nr ez download You must file Form 1065, instead of Schedule F, unless you make a joint election to be treated as a qualified joint venture. 1040nr ez download Making this election will allow you to avoid the complexity of Form 1065 but still give each spouse credit for social security earnings on which retirement benefits are based. 1040nr ez download Qualified joint venture. 1040nr ez download   If you and your spouse each materially participate as the only members of a jointly owned and operated farm, and you file a joint tax return for the tax year, you can make a joint election to be treated as a qualified joint venture instead of a partnership for the tax year. 1040nr ez download For an explanation of “material participation,” see the instructions for Schedule C, line G, and the instructions for Schedule F, line E. 1040nr ez download   To make this election, you must divide all items of income, gain, loss, deduction, and credit attributable to the business between you and your spouse in accordance with your respective interests in the venture. 1040nr ez download Each of you must file a separate Schedule F and a separate Schedule SE. 1040nr ez download For more information, see Qualified Joint Venture in the Instructions for Schedule SE (Form 1040). 1040nr ez download Spouse employee. 1040nr ez download   If your spouse is your employee, not your partner, you must withhold and pay social security and Medicare taxes for him or her. 1040nr ez download For more information about employment taxes, see chapter 13. 1040nr ez download Community property. 1040nr ez download   If you are a partner and your distributive share of any income or loss from a trade or business carried on by the partnership is community property, treat your share as your self-employment earnings. 1040nr ez download Do not treat any of your share as self-employment earnings of your spouse. 1040nr ez download Figuring Self-Employment Earnings Farmer. 1040nr ez download   If you are self-employed as a farmer, use Schedule F (Form 1040) to figure your self-employment earnings. 1040nr ez download Partnership income or loss. 1040nr ez download   If you are a member of a partnership that carries on a trade or business, the partnership should report your self-employment earnings in box 14, code A, of your Schedule K-1 (Form 1065). 1040nr ez download Box 14 of Schedule K-1 may also provide amounts for gross farming or fishing income (code B) and gross nonfarm income (code C). 1040nr ez download Use these amounts if you use the farm or nonfarm optional method to figure net earnings from self-employment (see Methods for Figuring Net Earnings , later). 1040nr ez download   If you are a general partner, you may need to reduce these reported earnings by amounts you claim as a section 179 deduction, unreimbursed partnership expenses, or depletion on oil and gas properties. 1040nr ez download   If the amount reported is a loss, include only the deductible amount when you figure your total self-employment earnings. 1040nr ez download   For more information, see the Partner's Instructions for Schedule K-1 (Form 1065). 1040nr ez download   For general information on partnerships, see Publication 541. 1040nr ez download More than one business. 1040nr ez download   If you have self-employment earnings from more than one trade, business, or profession, you generally must combine the net profit or loss from each to determine your total self-employment earnings. 1040nr ez download A loss from one business reduces your profit from another business. 1040nr ez download However, do not combine earnings from farm and nonfarm businesses if you are using one of the optional methods (discussed later) to figure net earnings. 1040nr ez download Community property. 1040nr ez download   If any of the income from a farm or business, other than a partnership, is community property under state law, it is included in the self-employment earnings of the spouse carrying on the trade or business. 1040nr ez download Lost income payments. 1040nr ez download   Lost income payments received from insurance or other sources for reducing or stopping farming activities are included in self-employment earnings. 1040nr ez download These include USDA payments to compensate for lost income resulting from reductions in tobacco quotas and allotments. 1040nr ez download Even if you are not farming when you receive the payment, it is included in self-employment earnings if it relates to your farm business (even though it is temporarily inactive). 1040nr ez download A connection exists if it is clear the payment would not have been made but for your conduct of your farm business. 1040nr ez download Gain or loss. 1040nr ez download   A gain or loss from the disposition of property that is neither stock in trade nor held primarily for sale to customers is not included in self-employment earnings. 1040nr ez download It does not matter whether the disposition is a sale, exchange, or involuntary conversion. 1040nr ez download For example, gains or losses from the disposition of the following types of property are not included in self-employment earnings. 1040nr ez download Investment property. 1040nr ez download Depreciable property or other fixed assets used in your trade or business. 1040nr ez download Livestock held for draft, breeding, sport, or dairy purposes, and not held primarily for sale, regardless of how long the livestock was held, or whether it was raised or purchased. 1040nr ez download Unharvested standing crops sold with land held more than 1 year. 1040nr ez download Timber, coal, or iron ore held for more than 1 year if an economic interest was retained, such as a right to receive coal royalties. 1040nr ez download   A gain or loss from the cutting of timber is not included in self-employment earnings if the cutting is treated as a sale or exchange. 1040nr ez download For more information on electing to treat the cutting of timber as a sale or exchange, see Timber in chapter 8. 1040nr ez download Wages and salaries. 1040nr ez download   Wages and salaries received for services performed as an employee and covered by social security or railroad retirement are not included in self-employment earnings. 1040nr ez download   Wages paid in kind to you for agricultural labor, such as commodity wages, are not included in self-employment earnings. 1040nr ez download Retired partner. 1040nr ez download   Retirement income received by a partner from his or her partnership under a written plan is not included in self-employment earnings if all the following apply. 1040nr ez download The retired partner performs no services for the partnership during the year. 1040nr ez download The retired partner is owed only the retirement payments. 1040nr ez download The retired partner's share (if any) of the partnership capital was fully paid to the retired partner. 1040nr ez download The payments to the retired partner are lifelong periodic payments. 1040nr ez download Conservation Reserve Program (CRP) payments. 1040nr ez download   Under the Conservation Reserve Program (CRP), if you own or operate highly erodible or other specified cropland, you may enter into a longterm contract with the USDA, agreeing to convert to a less intensive use of that cropland. 1040nr ez download You must include the annual rental payments and any onetime incentive payment you receive under the program on Schedule F, lines 4a and 4b. 1040nr ez download Cost share payments you receive may qualify for the costsharing exclusion. 1040nr ez download See Cost-Sharing Exclusion (Improvements), above. 1040nr ez download CRP payments are reported to you on Form 1099G. 1040nr ez download Individuals who are receiving Social Security retirement or disability benefits may exclude CRP payments when calculating self-employment tax. 1040nr ez download See the instructions for Schedule SE (Form 1040). 1040nr ez download Self-employed health insurance deduction. 1040nr ez download   You cannot deduct the self-employed health insurance deduction you report on Form 1040, line 29, from self-employment earnings on Schedule SE (Form 1040). 1040nr ez download Landlord Participation in Farming As a general rule, income and deductions from rentals and from personal property leased with real estate are not included in determining self-employment earnings. 1040nr ez download However, income and deductions from farm rentals, including government commodity program payments received by a landowner who rents land, are included if the rental arrangement provides that the landowner will, and does, materially participate in the production or management of production of the farm products on the land. 1040nr ez download Crop shares. 1040nr ez download   Rent paid in the form of crop shares is included in self-employment earnings for the year you sell, exchange, give away, or use the crop shares if you meet one of the four material participation tests (discussed next) at the time the crop shares are produced. 1040nr ez download Feeding such crop shares to livestock is considered using them. 1040nr ez download Your gross income for figuring your self-employment earnings includes the fair market value of the crop shares when they are used as feed. 1040nr ez download Material participation for landlords. 1040nr ez download   You materially participate if you have an arrangement with your tenant for your participation and you meet one or more of the following tests. 1040nr ez download You do at least three of the following. 1040nr ez download Pay, using cash or credit, at least half the direct costs of producing the crop or livestock. 1040nr ez download Furnish at least half the tools, equipment, and livestock used in the production activities. 1040nr ez download Advise or consult with your tenant. 1040nr ez download Inspect the production activities periodically. 1040nr ez download You regularly and frequently make, or take an important part in making, management decisions substantially contributing to or affecting the success of the enterprise. 1040nr ez download You work 100 hours or more spread over a period of 5 weeks or more in activities connected with agricultural production. 1040nr ez download You do things that, considered in their totality, show you are materially and significantly involved in the production of the farm commodities. 1040nr ez download These tests may be used as general guides for determining whether you are a material participant. 1040nr ez download Example. 1040nr ez download Drew Houston agrees to produce a crop on J. 1040nr ez download Clarke's cotton farm, with each receiving half the proceeds. 1040nr ez download Clarke advises Houston when to plant, spray, and pick the cotton. 1040nr ez download During the growing season, Clarke inspects the crop every few days to determine whether Houston is properly taking care of the crop. 1040nr ez download Houston furnishes all labor needed to grow and harvest the crop. 1040nr ez download The management decisions made by Clarke in connection with the care of the cotton crop and his regular inspection of the crop establish that he participates to a material degree in the cotton production operations. 1040nr ez download The income Clarke receives from his cotton farm is included in his self-employment earnings. 1040nr ez download Methods for Figuring Net Earnings There are three ways to figure your net earnings from self-employment. 1040nr ez download The regular method. 1040nr ez download The farm optional method. 1040nr ez download The nonfarm optional method. 1040nr ez download You must use the regular method unless you are eligible to use one or both of the optional methods. 1040nr ez download See Figure 12-1 , shown later. 1040nr ez download Figure 12-1. 1040nr ez download Can I Use the Optional Methods? Please click here for the text description of the image. 1040nr ez download Figure 12–1. 1040nr ez download Can I Use the Optional Methods? Why use an optional method?   You may want to use the optional methods (discussed later) when you have a loss or a small net profit and any one of the following applies. 1040nr ez download You want to receive credit for social security benefit coverage. 1040nr ez download You incurred child or dependent care expenses for which you could claim a credit. 1040nr ez download (An optional method may increase your earned income, which could increase your credit. 1040nr ez download ) You are entitled to the earned income credit. 1040nr ez download (An optional method may increase your earned income, which could increase your credit. 1040nr ez download ) You are entitled to the additional child tax credit. 1040nr ez download (An optional method may increase your earned income, which could increase your credit. 1040nr ez download ) Effects of using an optional method. 1040nr ez download   Using an optional method could increase your SE tax. 1040nr ez download Paying more SE tax may result in you getting higher social security disability or retirement benefits. 1040nr ez download   If you use either or both optional methods, you must figure and pay the SE tax due under these methods even if you would have had a smaller SE tax or no SE tax using the regular method. 1040nr ez download   The optional methods may be used only to figure your SE tax. 1040nr ez download To figure your income tax, include your actual self-employment earnings in gross income, regardless of which method you use to determine SE tax. 1040nr ez download Regular Method Multiply your total self-employment earnings by 92. 1040nr ez download 35% (. 1040nr ez download 9235) to get your net earnings under the regular method. 1040nr ez download See Short Schedule SE, line 4, or Long Schedule SE, line 4a. 1040nr ez download Net earnings figured using the regular method are also called “actual net earnings. 1040nr ez download ” Farm Optional Method Use the farm optional method only for self-employment earnings from a farming business. 1040nr ez download You can use this method if you meet either of the following tests. 1040nr ez download Your gross farm income is $6,960 or less. 1040nr ez download Your net farm profits are less than $5,024. 1040nr ez download Gross farm income. 1040nr ez download   Your gross farm income is the total of the amounts from: Schedule F (Form 1040), line 9, and Schedule K-1 (Form 1065), box 14, code B (from farm partnerships). 1040nr ez download Net farm profits. 1040nr ez download   Net farm profits generally are the total of the amounts from: Schedule F (Form 1040), line 34, and Schedule K-1 (Form 1065), box 14, code A (from farm partnerships). 1040nr ez download However, you may need to adjust the amount reported on Schedule K-1 if you are a general partner or if it is a loss. 1040nr ez download For more information, see Partnership income or loss , earlier. 1040nr ez download Figuring farm net earnings. 1040nr ez download   If you meet either of the two tests explained above, use Table 12-1. 1040nr ez download Figuring Farm Net Earnings , to figure your net earnings from self-employment under the farm optional method. 1040nr ez download Table 12-1. 1040nr ez download Figuring Farm Net Earnings IF your gross farm income  is. 1040nr ez download . 1040nr ez download . 1040nr ez download THEN your net earnings are equal to. 1040nr ez download . 1040nr ez download . 1040nr ez download $6,960 or less Two-thirds of your gross farm income. 1040nr ez download More than $6,960 $4,640 Optional method can reduce or eliminate SE tax. 1040nr ez download   If your gross farm income is $6,960 or less and your farm net earnings figured under the farm optional method are less than your actual net earnings, you can use the farm optional method to reduce or eliminate your SE tax. 1040nr ez download Your actual net earnings are your net earnings figured using the regular method, explained earlier. 1040nr ez download Example. 1040nr ez download Your gross farm income is $540 and your net farm profit is $460. 1040nr ez download Consequently, your net earnings figured under the farm optional method are $360 (2/3 of $540) and your actual net earnings are $425 (92. 1040nr ez download 35% of $460). 1040nr ez download You owe no SE tax if you use the optional method because your net earnings under the farm optional method are less than $400. 1040nr ez download Nonfarm Optional Method This is an optional method available for determining net earnings from nonfarm self-employment, much like the farm optional method. 1040nr ez download If you are also engaged in a nonfarm business, you may be able to use this method to figure your nonfarm net earnings. 1040nr ez download You can use this method even if you do not use the farm optional method for determining your farm net earnings and even if you have a net loss from your nonfarm business. 1040nr ez download For more information about the nonfarm optional method, see Publication 334. 1040nr ez download You cannot combine farm and nonfarm self-employment earnings to figure your net earnings under either of the optional methods. 1040nr ez download Using Both Optional Methods If you use both optional methods, you must add the net earnings figured under each method to arrive at your total net earnings from self-employment. 1040nr ez download You can report less than your total actual farm and nonfarm net earnings but not less than actual nonfarm net earnings. 1040nr ez download If you use both optional methods, you can report no more than $4,640 as your combined net earnings from self-employment. 1040nr ez download Reporting Self-Employment Tax Use Schedule SE (Form 1040) to figure and report your SE tax. 1040nr ez download Then, enter the SE tax on line 56 of Form 1040 and attach Schedule SE to Form 1040. 1040nr ez download Most taxpayers can use Section A–Short Schedule SE to figure their SE tax. 1040nr ez download However, certain taxpayers must use Section B–Long Schedule SE. 1040nr ez download Use the chart on page 1 of Schedule SE to find out which one to use. 1040nr ez download If you have to pay SE tax, you must file Form 1040 (with Schedule SE attached) even if you do not otherwise have to file a federal income tax return. 1040nr ez download Deduction for employer-equivalent portion of self-employment tax. 1040nr ez download   You can deduct the employer-equivalent portion of your SE tax in figuring your adjusted gross income. 1040nr ez download This deduction only affects your income tax. 1040nr ez download It does not affect either your net earnings from self-employment or your SE tax. 1040nr ez download   To deduct the tax, enter on Form 1040, line 27, the amount shown on Section A, Line 6, or Section B, line 13, Deduction for employer-equivalent portion of self-employment tax, of the Schedule SE. 1040nr ez download Joint return. 1040nr ez download   Even if you file a joint return, you cannot file a joint Schedule SE. 1040nr ez download This is true whether one spouse or both spouses have self-employment earnings. 1040nr ez download Your spouse is not considered self-employed just because you are. 1040nr ez download If both of you have self-employment earnings, each of you must complete a separate Schedule SE. 1040nr ez download However, if one spouse uses the Short Schedule SE and the other spouse has to use the Long Schedule SE, both can use the same form. 1040nr ez download Attach both schedules to the joint return. 1040nr ez download If you and your spouse operate a business as a partnership, see Business Owned and Operated by Spouses and Qualified joint venture , earlier, under Who Must Pay Self-Employment Tax . 1040nr ez download Prev  Up  Next   Home   More Online Publications
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The 1040nr Ez Download

1040nr ez download Index A Adjusted basis defined, Adjusted basis defined. 1040nr ez download Administrative or management activities, Administrative or management activities. 1040nr ez download Assistance (see Tax help) Attorneys, Place To Meet Patients, Clients, or Customers B Business expenses not for use of home, Business expenses not for use of your home. 1040nr ez download Business furniture and equipment, Business Furniture and Equipment Business percentage, Business Percentage Business use of the home requirements (see Qualifying for a deduction) C Carryover of expenses, Carryover of unallowed expenses. 1040nr ez download Casualty losses, Casualty losses. 1040nr ez download Child and Adult Care Food Program reimbursements, Meals. 1040nr ez download Computer Listed property, Listed Property D Daycare facilities, Daycare Facility, Standard meal and snack rates. 1040nr ez download (see also Family daycare providers) Eligible children for standard meal and snack rates, Standard meal and snack rates. 1040nr ez download Exceptions for regular use requirement, Daycare Facility Family daycare, Standard meal and snack rates. 1040nr ez download Family daycare provider, Standard meal and snack rates. 1040nr ez download Meals, Meals. 1040nr ez download , Standard meal and snack rates. 1040nr ez download Regular use, Daycare Facility Standard meal and snack rates, Meals. 1040nr ez download , Standard meal and snack rates. 1040nr ez download Deduction limit, Deduction Limit Deduction requirements Employee use, Additional tests for employee use. 1040nr ez download Exceptions to exclusive use, Exceptions to Exclusive Use Exclusive use, Exclusive Use More than one trade or business, More Than One Trade or Business Place to meet clients, Place To Meet Patients, Clients, or Customers Principal place of business, Principal Place of Business Regular use, Regular Use Separate structure, Separate Structure Storage of inventory or product samples, Storage of inventory or product samples. 1040nr ez download Trade or business use, Trade or Business Use Deductions Figuring, Figuring the Deduction, Part 2—Figure Your Allowable Deduction Limit, Deduction Limit Part-year use, Part-year use. 1040nr ez download Qualifying for, Qualifying for a Deduction, Separate Structure Rental to employer, Rental to employer. 1040nr ez download Unreimbursed partnership expenses, Deducting unreimbursed partnership expenses. 1040nr ez download Using Actual Expenses, Using Actual Expenses Dentists, Place To Meet Patients, Clients, or Customers Depreciation, Property Bought for Business Use 5-year property, Depreciation 7-year property, Depreciation Adjusted basis, Adjusted basis defined. 1040nr ez download Fair market value, Fair market value defined. 1040nr ez download Figuring depreciation for the current year, Figuring the depreciation deduction for the current year. 1040nr ez download Furniture and equipment, Business Furniture and Equipment, Depreciation Home, Depreciating Your Home Nonresidential real property, Figuring the depreciation deduction for the current year. 1040nr ez download Percentage table for 39-year nonresidential real property, Depreciation table. 1040nr ez download Permanent improvements, Permanent improvements. 1040nr ez download , Depreciating permanent improvements. 1040nr ez download Depreciation of home, Depreciating Your Home Basis adjustment, Basis Adjustment MACRS (Table 2), Depreciation table. 1040nr ez download Property bought for business use, Depreciation Sale or exchange of home, Depreciation Doctors, Place To Meet Patients, Clients, or Customers E Employee use of home, Additional tests for employee use. 1040nr ez download Employees Adequately accounting to employer, Adequately accounting to employer. 1040nr ez download Casualty losses, Casualty losses. 1040nr ez download Mortgage interest, Deductible mortgage interest. 1040nr ez download Other expenses, Other expenses. 1040nr ez download Real estate taxes, Real estate taxes. 1040nr ez download Exclusive use, Exclusive Use Expenses Casualty losses, Casualty losses. 1040nr ez download Direct, Actual Expenses Indirect, Actual Expenses Insurance, Insurance. 1040nr ez download Mortgage interest, Deductible mortgage interest. 1040nr ez download , Qualified mortgage insurance premiums. 1040nr ez download Real estate taxes, Real estate taxes. 1040nr ez download Related to tax-exempt income, Expenses related to tax-exempt income. 1040nr ez download Rent, Rent. 1040nr ez download Repairs, Repairs. 1040nr ez download Security system, Security system. 1040nr ez download Telephone, Telephone. 1040nr ez download Types of, Actual Expenses Unrelated, Actual Expenses Utilities and services, Utilities and services. 1040nr ez download Where to deduct, Where To Deduct F Fair market value, Fair market value defined. 1040nr ez download Family daycare providers Meal and snack log (Exhibit A), Standard meal and snack rates. 1040nr ez download Standard meal and snack rates, Standard meal and snack rates. 1040nr ez download Standard meal and snack rates (Table 3), Standard meal and snack rates. 1040nr ez download Figuring the deduction Business percentage, Business Percentage Deduction limit, Deduction Limit Form, Useful Items - You may want to see:, Self-Employed Persons, Real estate taxes. 1040nr ez download 1040, Schedule F, Casualty losses. 1040nr ez download 2106, Employees 4562, Reporting and recordkeeping requirements. 1040nr ez download 4684, Casualty losses. 1040nr ez download 8829, Actual Expenses, Casualty losses. 1040nr ez download , Business Percentage, Daycare Facility W-2 Reimbursed expenses, Employees Free tax services, Free help with your tax return. 1040nr ez download Furniture and equipment, Business Furniture and Equipment H Help (see Tax help) Home Business percentage, Business Percentage Depreciation, Depreciating Your Home Sale of, Sale or Exchange of Your Home Home expenses, Can you deduct business use of, Figure A, , Principal Place of Business I Improvements (see Permanent improvements) Insurance, Insurance. 1040nr ez download Inventory, storage of, Storage of inventory or product samples. 1040nr ez download L Listed property Computers, Listed Property Defined, Listed Property Employee requirements, Employee. 1040nr ez download Reporting and recordkeeping requirements, Reporting and recordkeeping requirements. 1040nr ez download Years following the year placed in service, Years following the year placed in service. 1040nr ez download M MACRS percentage table 39-year nonresidential real property, Depreciation table. 1040nr ez download Meals, Meals. 1040nr ez download Meeting with patients, clients, or customers on premises, Place To Meet Patients, Clients, or Customers More than one place of business, More than one place of business. 1040nr ez download More than one trade or business, More Than One Trade or Business More-than-50%-use test, More-than-50%-use test. 1040nr ez download Mortgage interest, Deductible mortgage interest. 1040nr ez download , Qualified mortgage insurance premiums. 1040nr ez download P Partners, Partners Partnership expenses, unreimbursed, Deducting unreimbursed partnership expenses. 1040nr ez download Permanent improvements, Permanent improvements. 1040nr ez download , Depreciating permanent improvements. 1040nr ez download Personal property converted to business use, Personal Property Converted to Business Use Place of business, more than one, More than one place of business. 1040nr ez download Principal place of business, Principal Place of Business Product samples, Storage of inventory or product samples. 1040nr ez download Property bought for business use Depreciation, Depreciation Section 179 deduction, Property Bought for Business Use, Section 179 Deduction Property converted to business use, Personal, Personal Property Converted to Business Use Publications, Useful Items - You may want to see: (see Tax help) Q Qualifying for a deduction, Qualifying for a Deduction R Real estate taxes, Real estate taxes. 1040nr ez download Recordkeeping, Recordkeeping Recordkeeping requirements Business furniture and equipment, Reporting and recordkeeping requirements. 1040nr ez download Family daycare provider meal and snack log (Exhibit A), Standard meal and snack rates. 1040nr ez download Regular use, Regular Use Reminders, Reminders Rent, Rent. 1040nr ez download Repairs, Repairs. 1040nr ez download Reporting requirements Business furniture and equipment, Reporting and recordkeeping requirements. 1040nr ez download S Sale or exchange of your home, Sale or Exchange of Your Home Basis adjustment, Basis Adjustment Depreciation taken, Depreciation Ownership and use tests, Ownership and use tests. 1040nr ez download Section 179, Section 179 Deduction Furniture and equipment, Business Furniture and Equipment, Listed Property Listed property, Business Furniture and Equipment, Listed Property Personal property converted to business use, Personal Property Converted to Business Use Property bought for business use, Property Bought for Business Use Security system, Security system. 1040nr ez download Self-employed persons Deduction of expenses, Self-Employed Persons Separate structure, Separate Structure Simplified Method Actual expenses and depreciation of your home, Actual expenses and depreciation of your home. 1040nr ez download Allowable area, Allowable area. 1040nr ez download Business expenses not related to use of the home, Business expenses not related to use of the home. 1040nr ez download Electing the simplified method, Electing the Simplified Method More than one home, More than one home. 1040nr ez download More than one qualified business use, More than one qualified business use. 1040nr ez download Shared use, Shared use. 1040nr ez download Expenses deductible without regard to business use, Expenses deductible without regard to business use. 1040nr ez download No carryover of unallowed expenses, No deduction of carryover of actual expenses. 1040nr ez download Simplified amount, Simplified Amount Space used regularly for daycare, Space used regularly for daycare. 1040nr ez download Using the simplified method, Using the Simplified Method Standard meal and snack rates, Standard meal and snack rates. 1040nr ez download Storage of inventory, Storage of inventory or product samples. 1040nr ez download T Tables and figures MACRS Depreciation of home (Table 2), Depreciation table. 1040nr ez download Qualifying for deduction (Figure A), Standard meal and snack rates (Table 3), Table 3. 1040nr ez download Standard Meal and Snack Rates1 Types of expenses (Table 1), Actual Expenses Tax help, How To Get Tax Help Telephone, Telephone. 1040nr ez download Trade or business use, Trade or Business Use TTY/TDD information, How To Get Tax Help Types of expenses, Actual Expenses U Utilities, Utilities and services. 1040nr ez download W Where to deduct expenses, Where To Deduct Employees, Employees Self-employed, Self-Employed Persons Worksheets Area Adjustment Worksheet (for simplified method), Area Adjustment Worksheet (for simplified method) Worksheets to figure the deduction for business use of your home (simplified method), Worksheets To Figure the Deduction for Business Use of Your Home (Simplified Method) Daycare facility worksheet (for simplified method), Daycare Facility Worksheet (for simplified method) Simplified method worksheet, Simplified Method Worksheet Prev  Up     Home   More Online Publications