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2012 Tax Forms Online

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2012 Tax Forms Online

2012 tax forms online Publication 509 - Main Content Table of Contents General Tax CalendarFirst Quarter Second Quarter Third Quarter Fourth Quarter Fiscal-Year Taxpayers Employer's Tax CalendarFirst Quarter Second Quarter Third Quarter Fourth Quarter Excise Tax CalendarFirst Quarter Second Quarter Third Quarter Fourth Quarter How To Get Tax Help General Tax Calendar This tax calendar has the due dates for 2014 that most taxpayers will need. 2012 tax forms online Employers and persons who pay excise taxes also should use the Employer's Tax Calendar and the Excise Tax Calendar . 2012 tax forms online Fiscal-year taxpayers. 2012 tax forms online   If you file your income tax return for a fiscal year rather than the calendar year, you must change some of the dates in this calendar. 2012 tax forms online These changes are described under Fiscal-Year Taxpayers at the end of this calendar. 2012 tax forms online First Quarter The first quarter of a calendar year is made up of January, February, and March. 2012 tax forms online Second Quarter The second quarter of a calendar year is made up of April, May, and June. 2012 tax forms online Third Quarter The third quarter of a calendar year is made up of July, August, and September. 2012 tax forms online Fourth Quarter The fourth quarter of a calendar year is made up of October, November, and December. 2012 tax forms online Fiscal-Year Taxpayers If you use a fiscal year (rather than the calendar year) as your tax year, you should change some of the dates in this calendar. 2012 tax forms online Use the following general guidelines to make these changes. 2012 tax forms online The 3 months that make up each quarter of a fiscal year may be different from those of each calendar quarter, depending on when the fiscal year begins. 2012 tax forms online Also see Saturday, Sunday, or legal holiday, earlier. 2012 tax forms online Individuals Form 1040. 2012 tax forms online    This form is due on the 15th day of the 4th month after the end of your tax year. 2012 tax forms online Form 4868 is used to request an extension of time to file Form 1040. 2012 tax forms online Estimated tax payments (Form 1040-ES). 2012 tax forms online   Payments are due on the 15th day of the 4th, 6th, and 9th months of your tax year and on the 15th day of the 1st month after your tax year ends. 2012 tax forms online Partnerships Form 1065. 2012 tax forms online   This form is due on the 15th day of the 4th month after the end of the partnership's tax year. 2012 tax forms online Provide each partner with a copy of Schedule K-1 (Form 1065) or a substitute Schedule K-1. 2012 tax forms online Form 1065-B (electing large partnerships). 2012 tax forms online   This form is due on the 15th day of the 4th month after the end of the partnership's tax year. 2012 tax forms online Provide each partner with a copy of Schedule K-1 (Form 1065-B) or a substitute Schedule K-1 by the first March 15 following the close of the partnership's tax year. 2012 tax forms online Corporations and S Corporations Form 1120 and Form 1120S (or Form 7004). 2012 tax forms online   These forms are due on the 15th day of the 3rd month after the end of the corporation's tax year. 2012 tax forms online S corporations must provide each shareholder with a copy of Schedule K-1 (Form 1120S) or a substitute Schedule K-1. 2012 tax forms online Form 7004 is used to request an extension of time to file Form 1120 or Form 1120S. 2012 tax forms online Estimated tax payments. 2012 tax forms online   Payments are due on the 15th day of the 4th, 6th, 9th, and 12th months of the corporation's tax year. 2012 tax forms online Form 2553. 2012 tax forms online   This form is used to choose S corporation treatment. 2012 tax forms online It is due no more than two months and 15 days after the beginning of the tax year the election is to take effect or at any time during the preceding tax year. 2012 tax forms online Employer's Tax Calendar This tax calendar covers various due dates of interest to employers. 2012 tax forms online Principally, it covers the following federal taxes. 2012 tax forms online Income tax you withhold from your employees' wages or from nonpayroll amounts you pay out. 2012 tax forms online Social security and Medicare taxes (FICA taxes) you withhold from your employees' wages and the social security and Medicare taxes you must pay as an employer. 2012 tax forms online Federal unemployment (FUTA) tax you must pay as an employer. 2012 tax forms online The calendar lists due dates for filing returns and for making deposits of these three taxes throughout the year. 2012 tax forms online Use this calendar with Publication 15 (Circular E), which gives the deposit rules. 2012 tax forms online Forms you may need. 2012 tax forms online   The following is a list and description of the primary employment tax forms you may need. 2012 tax forms online Form 940, Employer's Annual Federal Unemployment (FUTA) Tax Return. 2012 tax forms online This form is due the last day of the first calendar month after the calendar year ends. 2012 tax forms online Use it to report the FUTA tax on wages you paid. 2012 tax forms online Form 941, Employer's QUARTERLY Federal Tax Return. 2012 tax forms online This form is due the last day of the first calendar month after the calendar quarter ends. 2012 tax forms online Use it to report social security and Medicare taxes and withheld income taxes on wages if your employees are not farm workers or household employees. 2012 tax forms online Form 943, Employer's Annual Federal Tax Return for Agricultural Employees. 2012 tax forms online This form is due the last day of the first calendar month after the calendar year ends. 2012 tax forms online Use it to report social security and Medicare taxes and withheld income taxes on wages if your employees are farm workers. 2012 tax forms online Form 944, Employer's ANNUAL Federal Tax Return. 2012 tax forms online This form is due the last day of the first calendar month after the calendar year ends. 2012 tax forms online Certain small employers use it instead of Form 941 to report social security and Medicare taxes and withheld income tax. 2012 tax forms online Form 945, Annual Return of Withheld Federal Income Tax. 2012 tax forms online This form is due the last day of the first calendar month after the calendar year ends. 2012 tax forms online Use it to report income tax withheld on all nonpayroll items. 2012 tax forms online Nonpayroll items include the following. 2012 tax forms online Backup withholding. 2012 tax forms online Withholding on pensions, annuities, IRAs, and gambling winnings. 2012 tax forms online Payments of Indian gaming profits to tribal members. 2012 tax forms online Fiscal-year taxpayers. 2012 tax forms online   The dates in this calendar apply whether you use a fiscal year or the calendar year as your tax year. 2012 tax forms online The only exception is the date for filing Forms 5500, Annual Return/Report of Employee Benefit Plan, and 5500-EZ, Annual Return of One-Participant (Owners and Their Spouses) Retirement Plan. 2012 tax forms online These employee benefit plan forms are due by the last day of the seventh month after the plan year ends. 2012 tax forms online See July 31 , later. 2012 tax forms online Extended due dates. 2012 tax forms online   If you timely deposit in full the tax you are required to report on Form 940, 941, 943, 944, or 945, you have an additional 10 calendar days to file that form. 2012 tax forms online If you are subject to the semiweekly deposit rule, use Table 2 near the end of this publication for your deposit due dates. 2012 tax forms online However, if you accumulate $100,000 or more of taxes on any day during a deposit period, you must deposit the tax by the next business day instead of the date shown in Table 2. 2012 tax forms online First Quarter The first quarter of a calendar year is made up of January, February, and March. 2012 tax forms online Second Quarter The second quarter of a calendar year is made up of April, May, and June. 2012 tax forms online Third Quarter The third quarter of a calendar year is made up of July, August, and September. 2012 tax forms online Fourth Quarter The fourth quarter of a calendar year is made up of October, November, and December. 2012 tax forms online Excise Tax Calendar This tax calendar gives the due dates for filing returns and making deposits of excise taxes. 2012 tax forms online Use this calendar with Publication 510. 2012 tax forms online Also see the instructions for Forms 11-C, 720, 730, and 2290 for more information. 2012 tax forms online References to Form 2290 also apply to Form 2290(SP). 2012 tax forms online Forms you may need. 2012 tax forms online   The following is a list and description of the excise tax forms you may need. 2012 tax forms online Form 11-C, Occupational Tax and Registration Return for Wagering. 2012 tax forms online Use this form to register any wagering activity and to pay an occupational tax on wagering. 2012 tax forms online File Form 11-C if you are in the business of accepting wagers, including conducting a wagering pool or lottery, or are an agent of someone who accepts wagers. 2012 tax forms online You must file the form before you begin accepting wagers. 2012 tax forms online After that, file the form by July 1 of each year. 2012 tax forms online Also, see Form 730, later. 2012 tax forms online Form 720, Quarterly Federal Excise Tax Return. 2012 tax forms online File this form by the last day of the month following the calendar quarter. 2012 tax forms online Use this form to report a wide variety of excise taxes, including: Communications and air transportation taxes, Fuel taxes, Retail tax, Ship passenger tax, and Manufacturers taxes. 2012 tax forms online Form 730, Monthly Tax Return for Wagers. 2012 tax forms online Use this form to pay an excise tax on wagers you accept. 2012 tax forms online File this form for each month by the last day of the following month. 2012 tax forms online Also, see Form 11-C, earlier. 2012 tax forms online Form 2290, Heavy Highway Vehicle Use Tax Return. 2012 tax forms online Use this form to pay the federal use tax on heavy highway vehicles registered in your name. 2012 tax forms online File this form by the last day of the month following the month of the vehicle's first taxable use in the tax period. 2012 tax forms online The tax period begins on July 1 and ends the following June 30. 2012 tax forms online You must pay the full year's tax on all vehicles you have in use during the month of July. 2012 tax forms online You must also pay a partial-year tax on taxable vehicles that you put into use in a month after July. 2012 tax forms online For more information, see the Instructions for Form 2290. 2012 tax forms online Fiscal-year taxpayers. 2012 tax forms online   The dates in this calendar apply whether you use a fiscal year or the calendar year as your tax year. 2012 tax forms online Adjustments for Saturday, Sunday, or legal holidays. 2012 tax forms online   Generally, if a due date falls on a Saturday, Sunday, or legal holiday, the due date is delayed until the next day that is not a Saturday, Sunday, or legal holiday. 2012 tax forms online For excise taxes, there are two exceptions to this rule. 2012 tax forms online For deposits of regular method taxes, if the due date is a Saturday, Sunday, or legal holiday, the due date is the immediately preceding day that is not a Saturday, Sunday, or legal holiday. 2012 tax forms online Under the special September deposit rules, if the due date falls on a Saturday, the deposit is due on the preceding Friday. 2012 tax forms online If the due date falls on a Sunday, the deposit is due on the following Monday. 2012 tax forms online For more information, see the Instructions for Form 720. 2012 tax forms online The Excise Tax Calendar has been adjusted for all of these provisions. 2012 tax forms online Regular method taxes. 2012 tax forms online   These are taxes, other than alternative method taxes used for communication and air transportation taxes, reported on Form 720 for which deposits are required. 2012 tax forms online First Quarter The first quarter of a calendar year is made up of January, February, and March. 2012 tax forms online Second Quarter The second quarter of a calendar year is made up of April, May, and June. 2012 tax forms online Third Quarter The third quarter of a calendar year is made up of July, August, and September. 2012 tax forms online Fourth Quarter The fourth quarter of a calendar year is made up of October, November, and December. 2012 tax forms online How To Get Tax Help Go online, use a smart phone, call or walk in to an office near you. 2012 tax forms online Whether it's help with a tax issue, preparing your tax return or picking up a free publication or form, get the help you need the way you want it. 2012 tax forms online Free help with your tax return. 2012 tax forms online   Free help in preparing your return is available nationwide from IRS-certified volunteers. 2012 tax forms online The Volunteer Income Tax Assistance (VITA) program is designed to help low-to-moderate income, elderly, persons with disabilities, and limited English proficient taxpayers. 2012 tax forms online The Tax Counseling for the Elderly (TCE) program is designed to assist taxpayers age 60 and older with their tax returns. 2012 tax forms online Most VITA and TCE sites offer free electronic filing and all volunteers will let you know about credits and deductions you may be entitled to claim. 2012 tax forms online Some VITA and TCE sites provide taxpayers the opportunity to prepare their return with the assistance of an IRS-certified volunteer. 2012 tax forms online To find the nearest VITA or TCE site, visit IRS. 2012 tax forms online gov or call 1-800-906-9887. 2012 tax forms online   As part of the TCE program, AARP offers the Tax-Aide counseling program. 2012 tax forms online To find the nearest AARP Tax-Aide site, visit AARP's website at www. 2012 tax forms online aarp. 2012 tax forms online org/money/taxaide or call 1-888-227-7669. 2012 tax forms online   For more information on these programs, go to IRS. 2012 tax forms online gov and enter “VITA” in the search box. 2012 tax forms online Internet. 2012 tax forms online IRS. 2012 tax forms online gov and IRS2Go are ready when you are — every day, every night, 24 hours a day, 7 days a week. 2012 tax forms online Apply for an Employer Identification Number (EIN). 2012 tax forms online Go to IRS. 2012 tax forms online gov and enter Apply for an EIN in the search box. 2012 tax forms online Request an Electronic Filing PIN by going to IRS. 2012 tax forms online gov and entering Electronic Filing PIN in the search box. 2012 tax forms online Check the status of your 2013 refund with Where's My Refund? Go to IRS. 2012 tax forms online gov or the IRS2Go app, and click on Where's My Refund? You'll get a personalized refund date as soon as the IRS processes your tax return and approves your refund. 2012 tax forms online If you e-file, your refund status is usually available within 24 hours after the IRS receives your tax return or 4 weeks after you've mailed a paper return. 2012 tax forms online Checking the status of your amended return. 2012 tax forms online Go to IRS. 2012 tax forms online gov and enter Where's My Amended Return in the search box. 2012 tax forms online Download forms, instructions, and publications, including some accessible versions. 2012 tax forms online Order free transcripts of your tax returns or tax account using the Order a Transcript tool on IRS. 2012 tax forms online gov or IRS2Go. 2012 tax forms online Tax return and tax account transcripts are generally available for the current year and past three years. 2012 tax forms online Figure your income tax withholding with the IRS Withholding Calculator on IRS. 2012 tax forms online gov. 2012 tax forms online Use it if you've had too much or too little withheld, your personal situation has changed, you're starting a new job or you just want to see if you're having the right amount withheld. 2012 tax forms online Determine if you might be subject to the Alternative Minimum Tax by using the Alternative Minimum Tax Assistant on IRS. 2012 tax forms online gov. 2012 tax forms online Locate the nearest Taxpayer Assistance Center using the Office Locator tool on IRS. 2012 tax forms online gov or IRS2Go. 2012 tax forms online Stop by most business days for face-to-face tax help, no appointment necessary — just walk in. 2012 tax forms online An employee can explain IRS letters, request adjustments to your tax account or help you set up a payment plan. 2012 tax forms online Before you visit, check the Office Locator for the address, phone number, hours of operation and the services provided. 2012 tax forms online If you have an ongoing tax account problem or a special need, such as a disability, you can request an appointment. 2012 tax forms online Call the local number listed in the Office Locator, or look in the phone book under United States Government, Internal Revenue Service. 2012 tax forms online Locate the nearest volunteer help site with the VITA Locator Tool on IRS. 2012 tax forms online gov. 2012 tax forms online Low-to-moderate income, elderly, persons with disabilities, and limited English proficient taxpayers can get free help with their tax return from the nationwide Volunteer Income Tax Assistance (VITA) program. 2012 tax forms online The Tax Counseling for the Elderly (TCE) program helps taxpayers 60 and older with their tax returns. 2012 tax forms online Most VITA and TCE sites offer free electronic filing and some provide IRS-certified volunteers who can help prepare your tax return. 2012 tax forms online AARP offers the Tax-Aide counseling program as part of the TCE program. 2012 tax forms online Visit AARP's website to find the nearest Tax-Aide location. 2012 tax forms online Research your tax questions. 2012 tax forms online Search publications and instructions by topic or keyword. 2012 tax forms online Read the Internal Revenue Code, regulations, or other official guidance. 2012 tax forms online Read Internal Revenue Bulletins. 2012 tax forms online Sign up to receive local and national tax news by email. 2012 tax forms online Phone. 2012 tax forms online You can call the IRS, or you can carry it in your pocket with the IRS2Go app on your smart phone or tablet. 2012 tax forms online Download the free IRS2Go mobile app from the iTunes app store or from Google Play. 2012 tax forms online Use it to watch the IRS YouTube channel, get IRS news as soon as it's released to the public, order transcripts of your tax returns or tax account, check your refund status, subscribe to filing season updates or daily tax tips, and follow the IRS Twitter news feed, @IRSnews, to get the latest federal tax news, including information about tax law changes and important IRS programs. 2012 tax forms online Call to locate the nearest volunteer help site, 1-800-906-9887. 2012 tax forms online Low-to-moderate income, elderly, persons with disabilities, and limited English proficient taxpayers can get free help with their tax return from the nationwide Volunteer Income Tax Assistance (VITA) program. 2012 tax forms online The Tax Counseling for the Elderly (TCE) program helps taxpayers 60 and older with their tax returns. 2012 tax forms online Most VITA and TCE sites offer free electronic filing. 2012 tax forms online Some VITA and TCE sites provide IRS-certified volunteers who can help prepare your tax return. 2012 tax forms online Through the TCE program, AARP offers the Tax-Aide counseling program; call 1-888-227-7669 to find the nearest Tax-Aide location. 2012 tax forms online Call to check the status of your 2013 refund, 1-800-829-1954 or 1-800-829-4477. 2012 tax forms online The automated Where's My Refund? information is available 24 hours a day, 7 days a week. 2012 tax forms online If you e-file, your refund status is usually available within 24 hours after the IRS receives your tax return or 4 weeks after you've mailed a paper return. 2012 tax forms online Before you call, have your 2013 tax return handy so you can provide your social security number, your filing status, and the exact whole dollar amount of your refund. 2012 tax forms online Where's My Refund? can give you a personalized refund date as soon as the IRS processes your tax return and approves your refund. 2012 tax forms online Where's My Refund? includes information for the most recent return filed in the current year and does not include information about amended returns. 2012 tax forms online Call the Amended Return Hotline, 1-866-464-2050, to check the status of your amended return. 2012 tax forms online Call to order forms, instructions and publications, 1-800-TAX-FORM (1-800-829-3676) to order current-year forms, instructions and publications, and prior-year forms and instructions (limited to 5 years). 2012 tax forms online You should receive your order within 10 business days. 2012 tax forms online Call to order transcripts of your tax returns or tax account, 1-800-908-9946. 2012 tax forms online Follow the prompts to provide your Social Security Number or Individual Taxpayer Identification Number, date of birth, street address and ZIP code. 2012 tax forms online Call for TeleTax topics, 1-800-829-4477, to listen to pre-recorded messages covering various tax topics. 2012 tax forms online Call to ask tax questions, 1-800-829-1040. 2012 tax forms online Call using TTY/TDD equipment, 1-800-829-4059 to ask tax questions or order forms and publications. 2012 tax forms online The TTY/TDD telephone number is for people who are deaf, hard of hearing, or have a speech disability. 2012 tax forms online These individuals can also contact the IRS through relay services such as the Federal Relay Service available at www. 2012 tax forms online gsa. 2012 tax forms online gov/fedrelay. 2012 tax forms online Walk-in. 2012 tax forms online You can find a selection of forms, publications and services — in-person, face-to-face. 2012 tax forms online Products. 2012 tax forms online You can walk in to some post offices, libraries, and IRS offices to pick up certain forms, instructions, and publications. 2012 tax forms online Some IRS offices, libraries, and city and county government offices have a collection of products available to photocopy from reproducible proofs. 2012 tax forms online Services. 2012 tax forms online You can walk in to your local TAC most business days for personal, face-to-face tax help. 2012 tax forms online An employee can explain IRS letters, request adjustments to your tax account, or help you set up a payment plan. 2012 tax forms online If you need to resolve a tax problem, have questions about how the tax law applies to your individual tax return, or you are more comfortable talking with someone in person, visit your local TAC where you can talk with an IRS representative face-to-face. 2012 tax forms online No appointment is necessary—just walk in. 2012 tax forms online Before visiting, check www. 2012 tax forms online irs. 2012 tax forms online gov/localcontacts for hours of operation and services provided. 2012 tax forms online Mail. 2012 tax forms online You can send your order for forms, instructions, and publications to the address below. 2012 tax forms online You should receive a response within 10 business days after your request is received. 2012 tax forms online  Internal Revenue Service 1201 N. 2012 tax forms online Mitsubishi Motorway Bloomington, IL 61705-6613 The Taxpayer Advocate Service Is Here to Help You. 2012 tax forms online   The Taxpayer Advocate Service (TAS) is your voice at the IRS. 2012 tax forms online Our job is to ensure that every taxpayer is treated fairly and that you know and understand your rights. 2012 tax forms online What can TAS do for you?   We can offer you free help with IRS problems that you can't resolve on your own. 2012 tax forms online We know this process can be confusing, but the worst thing you can do is nothing at all! TAS can help if you can't resolve your tax problem and: Your problem is causing financial difficulties for you, your family, or your business. 2012 tax forms online You face (or your business is facing) an immediate threat of adverse action. 2012 tax forms online You've tried repeatedly to contact the IRS but no one has responded, or the IRS hasn't responded by the date promised. 2012 tax forms online   If you qualify for our help, you'll be assigned to one advocate who'll be with you at every turn and will do everything possible to resolve your problem. 2012 tax forms online Here's why we can help: TAS is an independent organization within the IRS. 2012 tax forms online Our advocates know how to work with the IRS. 2012 tax forms online Our services are free and tailored to meet your needs. 2012 tax forms online We have offices in every state, the District of Columbia, and Puerto Rico. 2012 tax forms online How can you reach us?   If you think TAS can help you, call your local advocate, whose number is in your local directory and at www. 2012 tax forms online irs. 2012 tax forms online gov/advocate, or call us toll-free at 1-877-777-4778. 2012 tax forms online How else does TAS help taxpayers?   TAS also works to resolve large-scale, systemic problems that affect many taxpayers. 2012 tax forms online If you know of one of these broad issues, please report it to us through our Systemic Advocacy Management System at www. 2012 tax forms online irs. 2012 tax forms online gov/sams. 2012 tax forms online Low Income Taxpayer Clinics. 2012 tax forms online   Low Income Taxpayer Clinics (LITCs) serve individuals whose income is below a certain level and need to resolve tax problems such as audits, appeals, and tax collection disputes. 2012 tax forms online Some clinics can provide information about taxpayer rights and responsibilities in different languages for individuals who speak English as a second language. 2012 tax forms online Visit www. 2012 tax forms online TaxpayerAdvocate. 2012 tax forms online irs. 2012 tax forms online gov or see IRS Publication 4134, Low Income Taxpayer Clinic List. 2012 tax forms online gnewbus01 Prev  Up  Next   Home   More Online Publications
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2012 tax forms online 3. 2012 tax forms online   Reporting Rental Income, Expenses, and Losses Table of Contents Which Forms To UseSchedule E (Form 1040) Schedule C (Form 1040), Profit or Loss From Business Qualified Joint Venture Limits on Rental LossesAt-Risk Rules Passive Activity Limits Casualties and Thefts Example Figuring the net income or loss for a residential rental activity may involve more than just listing the income and deductions on Schedule E (Form 1040). 2012 tax forms online There are activities which do not qualify to use Schedule E, such as when the activity is not engaged in to make a profit or when you provide substantial services in conjunction with the property. 2012 tax forms online There are also the limitations which may need to be applied if you have a net loss on Schedule E. 2012 tax forms online There are two: (1) the limitation based on the amount of investment you have at risk in your rental activity, and (2) the special limits imposed on passive activities. 2012 tax forms online You may also have a gain or loss related to your rental property from a casualty or theft. 2012 tax forms online This is considered separately from the income and expense information you report on Schedule E. 2012 tax forms online Which Forms To Use The basic form for reporting residential rental income and expenses is Schedule E (Form 1040). 2012 tax forms online However, do not use that schedule to report a not-for-profit activity. 2012 tax forms online See Not Rented for Profit , in chapter 4. 2012 tax forms online There are also other rental situations in which forms other than Schedule E would be used. 2012 tax forms online Schedule E (Form 1040) If you rent buildings, rooms, or apartments, and provide basic services such as heat and light, trash collection, etc. 2012 tax forms online , you normally report your rental income and expenses on Schedule E, Part I. 2012 tax forms online List your total income, expenses, and depreciation for each rental property. 2012 tax forms online Be sure to enter the number of fair rental and personal use days on line 2. 2012 tax forms online If you have more than three rental or royalty properties, complete and attach as many Schedules E as are needed to list the properties. 2012 tax forms online Complete lines 1 and 2 for each property. 2012 tax forms online However, fill in lines 23a through 26 on only one Schedule E. 2012 tax forms online On Schedule E, page 1, line 18, enter the depreciation you are claiming for each property. 2012 tax forms online To find out if you need to attach Form 4562, see Form 4562 , later. 2012 tax forms online If you have a loss from your rental real estate activity, you also may need to complete one or both of the following forms. 2012 tax forms online Form 6198, At-Risk Limitations. 2012 tax forms online See At-Risk Rules , later. 2012 tax forms online Also see Publication 925. 2012 tax forms online Form 8582, Passive Activity Loss Limitations. 2012 tax forms online See Passive Activity Limits , later. 2012 tax forms online Page 2 of Schedule E is used to report income or loss from partnerships, S corporations, estates, trusts, and real estate mortgage investment conduits. 2012 tax forms online If you need to use page 2 of Schedule E, be sure to use page 2 of the same Schedule E you used to enter your rental activity on page 1. 2012 tax forms online Also, include the amount from line 26 (Part I) in the “Total income or (loss)” on line 41 (Part V). 2012 tax forms online Form 4562. 2012 tax forms online   You must complete and attach Form 4562 for rental activities only if you are claiming: Depreciation, including the special depreciation allowance, on property placed in service during 2013; Depreciation on listed property (such as a car), regardless of when it was placed in service; or Any other car expenses, including the standard mileage rate or lease expenses. 2012 tax forms online Otherwise, figure your depreciation on your own worksheet. 2012 tax forms online You do not have to attach these computations to your return, but you should keep them in your records for future reference. 2012 tax forms online   See Publication 946 for information on preparing Form 4562. 2012 tax forms online Schedule C (Form 1040), Profit or Loss From Business Generally, Schedule C is used when you provide substantial services in conjunction with the property or the rental is part of a trade or business as a real estate dealer. 2012 tax forms online Providing substantial services. 2012 tax forms online   If you provide substantial services that are primarily for your tenant's convenience, such as regular cleaning, changing linen, or maid service, you report your rental income and expenses on Schedule C (Form 1040), Profit or Loss From Business, or Schedule C-EZ (Form 1040), Net Profit From Business. 2012 tax forms online Use Form 1065, U. 2012 tax forms online S. 2012 tax forms online Return of Partnership Income, if your rental activity is a partnership (including a partnership with your spouse unless it is a qualified joint venture). 2012 tax forms online Substantial services do not include the furnishing of heat and light, cleaning of public areas, trash collection, etc. 2012 tax forms online For information, see Publication 334, Tax Guide for Small Business. 2012 tax forms online Also, you may have to pay self-employment tax on your rental income using Schedule SE (Form 1040), Self-Employment Tax. 2012 tax forms online For a discussion of “substantial services,” see Real Estate Rents in Publication 334, chapter 5. 2012 tax forms online Qualified Joint Venture If you and your spouse each materially participate (see Material participation under Passive Activity Limits, later) as the only members of a jointly owned and operated real estate business, and you file a joint return for the tax year, you can make a joint election to be treated as a qualified joint venture instead of a partnership. 2012 tax forms online This election, in most cases, will not increase the total tax owed on the joint return, but it does give each of you credit for social security earnings on which retirement benefits are based and for Medicare coverage if your rental income is subject to self-employment tax. 2012 tax forms online If you make this election, you must report rental real estate income on Schedule E (or Schedule C if you provide substantial services). 2012 tax forms online You will not be required to file Form 1065 for any year the election is in effect. 2012 tax forms online Rental real estate income generally is not included in net earnings from self-employment subject to self-employment tax and generally is subject to the passive activity limits. 2012 tax forms online If you and your spouse filed a Form 1065 for the year prior to the election, the partnership terminates at the end of the tax year immediately preceding the year the election takes effect. 2012 tax forms online For more information on qualified joint ventures, go to IRS. 2012 tax forms online gov and enter “qualified joint venture” in the search box. 2012 tax forms online Limits on Rental Losses If you have a loss from your rental real estate activity, two sets of rules may limit the amount of loss you can deduct. 2012 tax forms online You must consider these rules in the order shown below. 2012 tax forms online Both are discussed in this section. 2012 tax forms online At-risk rules. 2012 tax forms online These rules are applied first if there is investment in your rental real estate activity for which you are not at risk. 2012 tax forms online This applies only if the real property was placed in service after 1986. 2012 tax forms online Passive activity limits. 2012 tax forms online Generally, rental real estate activities are considered passive activities and losses are not deductible unless you have income from other passive activities to offset them. 2012 tax forms online However, there are exceptions. 2012 tax forms online At-Risk Rules You may be subject to the at-risk rules if you have: A loss from an activity carried on as a trade or business or for the production of income, and Amounts invested in the activity for which you are not fully at risk. 2012 tax forms online Losses from holding real property (other than mineral property) placed in service before 1987 are not subject to the at-risk rules. 2012 tax forms online In most cases, any loss from an activity subject to the at-risk rules is allowed only to the extent of the total amount you have at risk in the activity at the end of the tax year. 2012 tax forms online You are considered at risk in an activity to the extent of cash and the adjusted basis of other property you contributed to the activity and certain amounts borrowed for use in the activity. 2012 tax forms online Any loss that is disallowed because of the at-risk limits is treated as a deduction from the same activity in the next tax year. 2012 tax forms online See Publication 925 for a discussion of the at-risk rules. 2012 tax forms online Form 6198. 2012 tax forms online   If you are subject to the at-risk rules, file Form 6198, At-Risk Limitations, with your tax return. 2012 tax forms online Passive Activity Limits In most cases, all rental real estate activities (except those of certain real estate professionals, discussed later) are passive activities. 2012 tax forms online For this purpose, a rental activity is an activity from which you receive income mainly for the use of tangible property, rather than for services. 2012 tax forms online For a discussion of activities that are not considered rental activities, see Rental Activities in Publication 925. 2012 tax forms online Deductions or losses from passive activities are limited. 2012 tax forms online You generally cannot offset income, other than passive income, with losses from passive activities. 2012 tax forms online Nor can you offset taxes on income, other than passive income, with credits resulting from passive activities. 2012 tax forms online Any excess loss or credit is carried forward to the next tax year. 2012 tax forms online Exceptions to the rules for figuring passive activity limits for personal use of a dwelling unit and for rental real estate with active participation are discussed later. 2012 tax forms online For a detailed discussion of these rules, see Publication 925. 2012 tax forms online Real estate professionals. 2012 tax forms online   If you are a real estate professional, complete line 43 of Schedule E. 2012 tax forms online      You qualify as a real estate professional for the tax year if you meet both of the following requirements. 2012 tax forms online More than half of the personal services you perform in all trades or businesses during the tax year are performed in real property trades or businesses in which you materially participate. 2012 tax forms online You perform more than 750 hours of services during the tax year in real property trades or businesses in which you materially participate. 2012 tax forms online If you qualify as a real estate professional, rental real estate activities in which you materially participated are not passive activities. 2012 tax forms online For purposes of determining whether you materially participated in your rental real estate activities, each interest in rental real estate is a separate activity unless you elect to treat all your interests in rental real estate as one activity. 2012 tax forms online   Do not count personal services you perform as an employee in real property trades or businesses unless you are a 5% owner of your employer. 2012 tax forms online You are a 5% owner if you own (or are considered to own) more than 5% of your employer's outstanding stock, or capital or profits interest. 2012 tax forms online   Do not count your spouse's personal services to determine whether you met the requirements listed earlier to qualify as a real estate professional. 2012 tax forms online However, you can count your spouse's participation in an activity in determining if you materially participated. 2012 tax forms online Real property trades or businesses. 2012 tax forms online   A real property trade or business is a trade or business that does any of the following with real property. 2012 tax forms online Develops or redevelops it. 2012 tax forms online Constructs or reconstructs it. 2012 tax forms online Acquires it. 2012 tax forms online Converts it. 2012 tax forms online Rents or leases it. 2012 tax forms online Operates or manages it. 2012 tax forms online Brokers it. 2012 tax forms online Choice to treat all interests as one activity. 2012 tax forms online   If you were a real estate professional and had more than one rental real estate interest during the year, you can choose to treat all the interests as one activity. 2012 tax forms online You can make this choice for any year that you qualify as a real estate professional. 2012 tax forms online If you forgo making the choice for one year, you can still make it for a later year. 2012 tax forms online   If you make the choice, it is binding for the tax year you make it and for any later year that you are a real estate professional. 2012 tax forms online This is true even if you are not a real estate professional in any intervening year. 2012 tax forms online (For that year, the exception for real estate professionals will not apply in determining whether your activity is subject to the passive activity rules. 2012 tax forms online )   See the Instructions for Schedule E for information about making this choice. 2012 tax forms online Material participation. 2012 tax forms online   Generally, you materially participated in an activity for the tax year if you were involved in its operations on a regular, continuous, and substantial basis during the year. 2012 tax forms online For details, see Publication 925 or the Instructions for Schedule C. 2012 tax forms online Participating spouse. 2012 tax forms online   If you are married, determine whether you materially participated in an activity by also counting any participation in the activity by your spouse during the year. 2012 tax forms online Do this even if your spouse owns no interest in the activity or files a separate return for the year. 2012 tax forms online Form 8582. 2012 tax forms online    You may have to complete Form 8582 to figure the amount of any passive activity loss for the current tax year for all activities and the amount of the passive activity loss allowed on your tax return. 2012 tax forms online See Form 8582 not required , later in this chapter, to determine if you must complete Form 8582. 2012 tax forms online   If you are required to complete Form 8582 and are also subject to the at-risk rules, include the amount from Form 6198, line 21 (deductible loss) in column (b) of Form 8582, Worksheet 1 or 3, as required. 2012 tax forms online Exception for Personal Use of Dwelling Unit If you used the rental property as a home during the year, any income, deductions, gain, or loss allocable to such use shall not be taken into account for purposes of the passive activity loss limitation. 2012 tax forms online Instead, follow the rules explained in chapter 5, Personal Use of Dwelling Unit (Including Vacation Home). 2012 tax forms online Exception for Rental Real Estate With Active Participation If you or your spouse actively participated in a passive rental real estate activity, you may be able to deduct up to $25,000 of loss from the activity from your nonpassive income. 2012 tax forms online This special allowance is an exception to the general rule disallowing losses in excess of income from passive activities. 2012 tax forms online Similarly, you may be able to offset credits from the activity against the tax on up to $25,000 of nonpassive income after taking into account any losses allowed under this exception. 2012 tax forms online Example. 2012 tax forms online Jane is single and has $40,000 in wages, $2,000 of passive income from a limited partnership, and $3,500 of passive loss from a rental real estate activity in which she actively participated. 2012 tax forms online $2,000 of Jane's $3,500 loss offsets her passive income. 2012 tax forms online The remaining $1,500 loss can be deducted from her $40,000 wages. 2012 tax forms online The special allowance is not available if you were married, lived with your spouse at any time during the year, and are filing a separate return. 2012 tax forms online Active participation. 2012 tax forms online   You actively participated in a rental real estate activity if you (and your spouse) owned at least 10% of the rental property and you made management decisions or arranged for others to provide services (such as repairs) in a significant and bona fide sense. 2012 tax forms online Management decisions that may count as active participation include approving new tenants, deciding on rental terms, approving expenditures, and other similar decisions. 2012 tax forms online Example. 2012 tax forms online Mike is single and had the following income and losses during the tax year:   Salary $42,300     Dividends 300     Interest 1,400     Rental loss (4,000)   The rental loss was from the rental of a house Mike owned. 2012 tax forms online Mike had advertised and rented the house to the current tenant himself. 2012 tax forms online He also collected the rents, which usually came by mail. 2012 tax forms online All repairs were either made or contracted out by Mike. 2012 tax forms online Although the rental loss is from a passive activity, because Mike actively participated in the rental property management he can use the entire $4,000 loss to offset his other income. 2012 tax forms online Maximum special allowance. 2012 tax forms online   The maximum special allowance is: $25,000 for single individuals and married individuals filing a joint return for the tax year, $12,500 for married individuals who file separate returns for the tax year and lived apart from their spouses at all times during the tax year, and $25,000 for a qualifying estate reduced by the special allowance for which the surviving spouse qualified. 2012 tax forms online   If your modified adjusted gross income (MAGI) is $100,000 or less ($50,000 or less if married filing separately), you can deduct your loss up to the amount specified above. 2012 tax forms online If your MAGI is more than $100,000 (more than $50,000 if married filing separately), your special allowance is limited to 50% of the difference between $150,000 ($75,000 if married filing separately) and your MAGI. 2012 tax forms online   Generally, if your MAGI is $150,000 or more ($75,000 or more if you are married filing separately), there is no special allowance. 2012 tax forms online Modified adjusted gross income (MAGI). 2012 tax forms online   This is your adjusted gross income from Form 1040, U. 2012 tax forms online S. 2012 tax forms online Individual Income Tax Return, line 38, or Form 1040NR, U. 2012 tax forms online S. 2012 tax forms online Nonresident Alien Income Tax Return, line 37, figured without taking into account: The taxable amount of social security or equivalent tier 1 railroad retirement benefits, The deductible contributions to traditional individual retirement accounts (IRAs) and section 501(c)(18) pension plans, The exclusion from income of interest from Series EE and I U. 2012 tax forms online S. 2012 tax forms online savings bonds used to pay higher educational expenses, The exclusion of amounts received under an employer's adoption assistance program, Any passive activity income or loss included on Form 8582, Any rental real estate loss allowed to real estate professionals, Any overall loss from a publicly traded partnership (see Publicly Traded Partnerships (PTPs) in the Instructions for Form 8582), The deduction allowed for one-half of self-employment tax, The deduction allowed for interest paid on student loans, The deduction for qualified tuition and related fees, and The domestic production activities deduction (see the Instructions for Form 8903). 2012 tax forms online Form 8582 not required. 2012 tax forms online   Do not complete Form 8582 if you meet all of the following conditions. 2012 tax forms online Your only passive activities were rental real estate activities in which you actively participated. 2012 tax forms online Your overall net loss from these activities is $25,000 or less ($12,500 or less if married filing separately and you lived apart from your spouse all year). 2012 tax forms online If married filing separately, you lived apart from your spouse all year. 2012 tax forms online You have no prior year unallowed losses from these (or any other passive) activities. 2012 tax forms online You have no current or prior year unallowed credits from passive activities. 2012 tax forms online Your MAGI is $100,000 or less ($50,000 or less if married filing separately and you lived apart from your spouse all year). 2012 tax forms online You do not hold any interest in a rental real estate activity as a limited partner or as a beneficiary of an estate or a trust. 2012 tax forms online   If you meet all of the conditions listed above, your rental real estate activities are not limited by the passive activity rules and you do not have to complete Form 8582. 2012 tax forms online On lines 23a through 23e of your Schedule E, enter the applicable amounts. 2012 tax forms online Casualties and Thefts As a result of a casualty or theft, you may have a loss related to your rental property. 2012 tax forms online You may be able to deduct the loss on your income tax return. 2012 tax forms online Casualty. 2012 tax forms online   This is the damage, destruction, or loss of property resulting from an identifiable event that is sudden, unexpected, or unusual. 2012 tax forms online Such events include a storm, fire, or earthquake. 2012 tax forms online Theft. 2012 tax forms online   This is defined as the unlawful taking and removing of your money or property with the intent to deprive you of it. 2012 tax forms online Gain from casualty or theft. 2012 tax forms online   It is also possible to have a gain from a casualty or theft if you receive money, including insurance, that is more than your adjusted basis in the property. 2012 tax forms online Generally, you must report this gain. 2012 tax forms online However, under certain circumstances, you may defer paying tax by choosing to postpone reporting the gain. 2012 tax forms online To do this, you generally must buy replacement property within 2 years after the close of the first tax year in which any part of your gain is realized. 2012 tax forms online In certain circumstances, the replacement period can be greater than 2 years; see Replacement Period in Publication 547 for more information. 2012 tax forms online The cost of the replacement property must be equal to or more than the net insurance or other payment you received. 2012 tax forms online More information. 2012 tax forms online   For information on business and nonbusiness casualty and theft losses, see Publication 547. 2012 tax forms online How to report. 2012 tax forms online    If you had a casualty or theft that involved property used in your rental activity, figure the net gain or loss in Section B of Form 4684, Casualties and Thefts. 2012 tax forms online Follow the Instructions for Form 4684 for where to carry your net gain or loss. 2012 tax forms online Example In February 2008, Marie Pfister bought a rental house for $135,000 (house $120,000 and land $15,000) and immediately began renting it out. 2012 tax forms online In 2013, she rented it all 12 months for a monthly rental fee of $1,125. 2012 tax forms online In addition to her rental income of $13,500 (12 x $1,125), Marie had the following expenses. 2012 tax forms online Mortgage interest $8,000 Fire insurance (1-year policy) 250 Miscellaneous repairs 400 Real estate taxes imposed and paid 500 Maintenance 200 Marie depreciates the residential rental property under MACRS GDS. 2012 tax forms online This means using the straight line method over a recovery period of 27. 2012 tax forms online 5 years. 2012 tax forms online She uses Table 2-2d to find her depreciation percentage. 2012 tax forms online Because she placed the property in service in February 2008, she continues to use that row of Table 2-2d. 2012 tax forms online For year 6, the rate is 3. 2012 tax forms online 636%. 2012 tax forms online Marie figures her net rental income or loss for the house as follows: Total rental income received  ($1,125 × 12) $13,500 Minus: Expenses     Mortgage interest $8,000   Fire insurance 250   Miscellaneous repairs 400   Real estate taxes 500   Maintenance 200   Total expenses 9,350 Balance $4,150 Minus: Depreciation ($120,000 x 3. 2012 tax forms online 636%) 4,363 Net rental (loss) for house ($213)       Marie had a net loss for the year. 2012 tax forms online Because she actively participated in her passive rental real estate activity and her loss was less than $25,000, she can deduct the loss on her return. 2012 tax forms online Marie also meets all of the requirements for not having to file Form 8582. 2012 tax forms online She uses Schedule E, Part I, to report her rental income and expenses. 2012 tax forms online She enters her income, expenses, and depreciation for the house in the column for Property A and enters her loss on line 22. 2012 tax forms online Form 4562 is not required. 2012 tax forms online Prev  Up  Next   Home   More Online Publications