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How To Do An Amended Return

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How To Do An Amended Return

How to do an amended return 3. How to do an amended return   Lifetime Learning Credit Table of Contents Introduction Can You Claim the CreditWho Can Claim the Credit Who Cannot Claim the Credit What Expenses QualifyQualified Education Expenses No Double Benefit Allowed Expenses That Do Not Qualify Who Is an Eligible Student Who Can Claim a Dependent's Expenses Figuring the CreditEffect of the Amount of Your Income on the Amount of Your Credit Claiming the Credit Introduction For 2013, there are two tax credits available to help you offset the costs of higher education by reducing the amount of your income tax. How to do an amended return They are the American opportunity credit and the lifetime learning credit. How to do an amended return This chapter discusses the lifetime learning credit. How to do an amended return The American opportunity credit is discussed in chapter 2, The American Opportunity Credit . How to do an amended return This chapter explains: Who can claim the lifetime learning credit, What expenses qualify for the credit, Who is an eligible student, Who can claim a dependent's expenses, How to figure the credit, How to claim the credit, and When the credit must be repaid. How to do an amended return What is the tax benefit of the lifetime learning credit. How to do an amended return   For the tax year, you may be able to claim a lifetime learning credit of up to $2,000 for qualified education expenses paid for all eligible students. How to do an amended return There is no limit on the number of years the lifetime learning credit can be claimed for each student. How to do an amended return   A tax credit reduces the amount of income tax you may have to pay. How to do an amended return Unlike a deduction, which reduces the amount of income subject to tax, a credit directly reduces the tax itself. How to do an amended return The lifetime learning credit is a nonrefundable credit. How to do an amended return This means that it can reduce your tax to zero, but if the credit is more than your tax the excess will not be refunded to you. How to do an amended return   Your allowable lifetime learning credit may be limited by the amount of your income and the amount of your tax. How to do an amended return Can you claim more than one education credit this year. How to do an amended return   For each student, you can elect for any year only one of the credits. How to do an amended return For example, if you elect to take the lifetime learning credit for a child on your 2013 tax return, you cannot, for that same child, also claim the American opportunity credit for 2013. How to do an amended return   If you are eligible to claim the lifetime learning credit and you are also eligible to claim the American opportunity credit for the same student in the same year, you can choose to claim either credit, but not both. How to do an amended return   If you pay qualified education expenses for more than one student in the same year, you can choose to take certain credits on a per-student, per-year basis. How to do an amended return This means that, for example, you can claim the American opportunity credit for one student and the lifetime learning credit for another student in the same year. How to do an amended return Differences between the American opportunity and lifetime learning credits. How to do an amended return   There are several differences between these two credits. How to do an amended return For example, you can claim the American opportunity credit for the same student for no more than 4 tax years, but any year in which the Hope Scholarship Credit was claimed counts toward the 4 years. How to do an amended return However, there is no limit on the number of years for which you can claim a lifetime learning credit based on the same student's expenses. How to do an amended return The differences between these credits are shown in Appendix B, Highlights of Education Tax Benefits for Tax Year 2013 near the end of this publication. How to do an amended return Overview of the lifetime learning credit. How to do an amended return   See Table 3-1, Overview of the Lifetime Learning Credit for the basics of the lifetime learning credit. How to do an amended return The details are discussed in this chapter. How to do an amended return Can You Claim the Credit The following rules will help you determine if you are eligible to claim the lifetime learning credit on your tax return. How to do an amended return Who Can Claim the Credit Generally, you can claim the lifetime learning credit if all three of the following requirements are met. How to do an amended return You pay qualified education expenses of higher education. How to do an amended return You pay the education expenses for an eligible student. How to do an amended return The eligible student is either yourself, your spouse, or a dependent for whom you claim an exemption on your tax return. How to do an amended return Table 3-1. How to do an amended return Overview of the Lifetime Learning Credit Maximum credit Up to $2,000 credit per return Limit on modified adjusted gross income (MAGI) $127,000 if married filling jointly;  $63,000 if single, head of household, or qualifying widow(er) Refundable or nonrefundable Nonrefundable—credit limited to the amount of tax you must pay on your taxable income Number of years of postsecondary education Available for all years of postsecondary education and for courses to acquire or improve job skills Number of tax years credit available Available for an unlimited number of years Type of program required Student does not need to be pursuing a program leading to a degree or other recognized education credential Number of courses Available for one or more courses Felony drug conviction Felony drug convictions do not make the student ineligible Qualified expenses Tuition and fees required for enrollment or attendance (including amounts required to be paid to the institution for course-related books, supplies, and equipment) Payments for academic periods Payments made in 2013 for academic periods beginning in 2013 or beginning in the first 3 months of 2014 Note. How to do an amended return Qualified education expenses paid by a dependent for whom you claim an exemption, or by a third party for that dependent, are considered paid by you. How to do an amended return “Qualified education expenses” are defined later under Qualified Education Expenses . How to do an amended return “Eligible students” are defined later under Who Is an Eligible Student . How to do an amended return A dependent for whom you claim an exemption is defined later under Who Can Claim a Dependent's Expenses . How to do an amended return You may find Figure 3-1, Can You Claim the Lifetime Learning Credit for 2013 , later, helpful in determining if you can claim a lifetime learning credit on your tax return. How to do an amended return Who Cannot Claim the Credit You cannot claim the lifetime learning credit for 2013 if any of the following apply. How to do an amended return Your filing status is married filing separately. How to do an amended return You are listed as a dependent on another person's tax return (such as your parents'). How to do an amended return See Who Can Claim a Dependent's Expenses , later. How to do an amended return Your modified adjusted gross income (MAGI) is $63,000 or more ($127,000 or more in the case of a joint return). How to do an amended return MAGI is explained later under Effect of the Amount of Your Income on the Amount of Your Credit . How to do an amended return You (or your spouse) were a nonresident alien for any part of 2013 and the nonresident alien did not elect to be treated as a resident alien for tax purposes. How to do an amended return More information on nonresident aliens can be found in Publication 519. How to do an amended return You claim the American Opportunity Credit (see chapter 2) or a Tuition and Fees Deduction (see chapter 6) for the same student in 2013. How to do an amended return What Expenses Qualify The lifetime learning credit is based on qualified education expenses you pay for yourself, your spouse, or a dependent for whom you claim an exemption on your tax return. How to do an amended return Generally, the credit is allowed for qualified education expenses paid in 2013 for an academic period beginning in 2013 or in the first 3 months of 2014. How to do an amended return For example, if you paid $1,500 in December 2013 for qualified tuition for the spring 2014 semester beginning in January 2014, you may be able to use that $1,500 in figuring your 2013 credit. How to do an amended return Academic period. How to do an amended return   An academic period includes a semester, trimester, quarter, or other period of study (such as a summer school session) as reasonably determined by an educational institution. How to do an amended return In the case of an educational institution that uses credit hours or clock hours and does not have academic terms, each payment period can be treated as an academic period. How to do an amended return Paid with borrowed funds. How to do an amended return   You can claim a lifetime learning credit for qualified education expenses paid with the proceeds of a loan. How to do an amended return You use the expenses to figure the lifetime learning credit for the year in which the expenses are paid, not the year in which the loan is repaid. How to do an amended return Treat loan disbursements sent directly to the educational institution as paid on the date the institution credits the student's account. How to do an amended return Student withdraws from class(es). How to do an amended return   You can claim a lifetime learning credit for qualified education expenses not refunded when a student withdraws. How to do an amended return Qualified Education Expenses For purposes of the lifetime learning credit, qualified education expenses are tuition and certain related expenses required for enrollment in a course at an eligible educational institution. How to do an amended return The course must be either part of a postsecondary degree program or taken by the student to acquire or improve job skills. How to do an amended return Eligible educational institution. How to do an amended return   An eligible educational institution is any college, university, vocational school, or other postsecondary educational institution eligible to participate in a student aid program administered by the U. How to do an amended return S. How to do an amended return Department of Education. How to do an amended return It includes virtually all accredited public, nonprofit, and proprietary (privately owned profit-making) postsecondary institutions. How to do an amended return The educational institution should be able to tell you if it is an eligible educational institution. How to do an amended return   Certain educational institutions located outside the United States also participate in the U. How to do an amended return S. How to do an amended return Department of Education's Federal Student Aid (FSA) programs. How to do an amended return Related expenses. How to do an amended return   Student-activity fees and expenses for course-related books, supplies, and equipment are included in qualified education expenses only if the fees and expenses must be paid to the institution for enrollment or attendance. How to do an amended return Prepaid expenses. How to do an amended return   Qualified education expenses paid in 2013 for an academic period that begins in the first three months of 2014 can be used in figuring an education credit for 2013 only. How to do an amended return See Academic period , earlier. How to do an amended return For example, you pay $2,000 in December 2013 for qualified tuition for the 2014 winter quarter that begins in January 2014, you can use that $2,000 in figuring an education credit for 2013 only (if you meet all the other requirements). How to do an amended return You cannot use any amount you paid in 2012 or 2014 to figure the qualified education expenses you use to figure your 2013 education credit(s). How to do an amended return In the following examples, assume that each student is an eligible student at an eligible educational institution. How to do an amended return Example 1. How to do an amended return   Jackson is a sophomore in University V's degree program in dentistry. How to do an amended return This year, in addition to tuition, he is required to pay a fee to the university for the rental of the dental equipment he will use in this program. How to do an amended return Because the equipment rental fee must be paid to University V for enrollment and attendance, Jackson's equipment rental fee is a qualified expense. How to do an amended return Example 2. How to do an amended return   Donna and Charles, both first-year students at College W, are required to have certain books and other reading materials to use in their mandatory first-year classes. How to do an amended return The college has no policy about how students should obtain these materials, but any student who purchases them from College W's bookstore will receive a bill directly from the college. How to do an amended return Charles bought his books from a friend, so what he paid for them is not a qualified education expense. How to do an amended return Donna bought hers at College W's bookstore. How to do an amended return Although Donna paid College W directly for her first-year books and materials, her payment is not a qualified expense because the books and materials are not required to be purchased from College W for enrollment or attendance at the institution. How to do an amended return Example 3. How to do an amended return   When Marci enrolled at College X for her freshman year, she had to pay a separate student activity fee in addition to her tuition. How to do an amended return This activity fee is required of all students, and is used solely to fund on-campus organizations and activities run by students, such as the student newspaper and student government. How to do an amended return No portion of the fee covers personal expenses. How to do an amended return Although labeled as a student activity fee, the fee is required for Marci's enrollment and attendance at College X. How to do an amended return Therefore, it is a qualified expense. How to do an amended return No Double Benefit Allowed You cannot do any of the following: Deduct higher education expenses on your income tax return (as, for example, a business expense) and also claim a lifetime learning credit based on those same expenses. How to do an amended return Claim a lifetime learning credit in the same year that you are claiming a tuition and fees deduction for the same student. How to do an amended return Claim a lifetime learning credit and an American opportunity credit based on the same qualified education expenses. How to do an amended return Claim a lifetime learning credit based on the same expenses used to figure the tax-free portion of a distribution from a Coverdell education savings account (ESA) or qualified tuition program (QTP). How to do an amended return See Coordination With American Opportunity and Lifetime Learning Credits in chapter 7, Coverdell Education Savings Account, and Coordination With American Opportunity and Lifetime Learning Credits in chapter 8, Qualified Tuition Program. How to do an amended return Claim a credit based on qualified education expenses paid with tax-free educational assistance, such as a scholarship, grant, or assistance provided by an employer. How to do an amended return See Adjustments to Qualified Education Expenses, next. How to do an amended return This image is too large to be displayed in the current screen. How to do an amended return Please click the link to view the image. How to do an amended return Figure 3-1 Adjustments to Qualified Education Expenses For each student, reduce the qualified education expenses paid by or on behalf of that student under the following rules. How to do an amended return The result is the amount of adjusted qualified education expenses for each student. How to do an amended return Tax-free educational assistance. How to do an amended return   For tax-free educational assistance received in 2013, reduce the qualified educational expenses for each academic period by the amount of tax-free educational assistance allocable to that academic period. How to do an amended return See Academic period , earlier. How to do an amended return   Some tax-free educational assistance received after 2013 may be treated as a refund of qualified education expenses paid in 2013. How to do an amended return This tax-free educational assistance is any tax-free educational assistance received by you or anyone else after 2013 for qualified education expenses paid on behalf of a student in 2013 (or attributable to enrollment at an eligible educational institution during 2013). How to do an amended return   If this tax-free educational assistance is received after 2013 but before you file your 2013 income tax return, see Refunds received after 2013 but before your income tax return is filed , later. How to do an amended return If this tax-free educational assistance is received after 2013 and after you file your 2013 income tax return, see Refunds received after 2013 and after your income tax return is filed , later. How to do an amended return   Tax-free educational assistance includes: The tax-free part of scholarships and fellowships (see Tax-Free Scholarships and Fellowships in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions), Pell grants (see Pell Grants and Other Title IV Need-Based Education Grants in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions), Employer-provided educational assistance (see chapter 11, Employer-Provided Educational Assistance ), Veterans' educational assistance (see Veterans' Benefits in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions), and Any other nontaxable (tax-free) payments (other than gifts or inheritances) received as educational assistance. How to do an amended return Generally, any scholarship or fellowship is treated as tax free. How to do an amended return However, a scholarship or fellowship is not treated as tax free to the extent the student includes it in gross income (if the student is required to file a tax return for the year the scholarship or fellowship is received) and either of the following is true. How to do an amended return The scholarship or fellowship (or any part of it) must be applied (by its terms) to expenses (such as room and board) other than qualified education expenses as defined in Qualified education expenses in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions. How to do an amended return The scholarship or fellowship (or any part of it) may be applied (by its terms) to expenses (such as room and board) other than qualified education expenses as defined in Qualified education expenses in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions. How to do an amended return You may be able to increase the combined value of an education credit and certain educational assistance if the student includes some or all of the educational assistance in income in the year it is received. How to do an amended return For examples, see Coordination with Pell grants and other scholarships, later. How to do an amended return Refunds. How to do an amended return   A refund of qualified education expenses may reduce adjusted qualified education expenses for the tax year or require repayment (recapture) of a credit claimed in an earlier year. How to do an amended return Some tax-free educational assistance received after 2013 may be treated as a refund. How to do an amended return See Tax-free educational assistance , earlier. How to do an amended return Refunds received in 2013. How to do an amended return   For each student, figure the adjusted qualified education expenses for 2013 by adding all the qualified education expenses for 2013 and subtracting any refunds of those expenses received from the eligible educational institution during 2013. How to do an amended return Refunds received after 2013 but before your income tax return is filed. How to do an amended return   If anyone receives a refund after 2013 of qualified education expenses paid on behalf of a student in 2013 and the refund is paid before you file an income tax return for 2013, the amount of qualified education expenses for 2013 is reduced by the amount of the refund. How to do an amended return Refunds received after 2013 and after your income tax return is filed. How to do an amended return   If anyone receives a refund after 2013 of qualified education expenses paid on behalf of a student in 2013 and the refund is paid after you file an income tax return for 2013, you may need to repay some or all of the credit. How to do an amended return See Credit recapture, next. How to do an amended return Credit recapture. How to do an amended return    If any tax-free educational assistance for the qualified education expenses paid in 2013 or any refund of your qualified education expenses paid in 2013 is received after you file your 2013 income tax return, you must recapture (repay) any excess credit. How to do an amended return You do this by refiguring the amount of your adjusted qualified education expenses for 2013 by reducing the expenses by the amount of the refund or tax-free educational assistance. How to do an amended return You then refigure your education credit(s) for 2013 and figure the amount by which your 2013 tax liability would have increased if you had claimed the refigured credit(s). How to do an amended return Include that amount as an additional tax for the year the refund or tax-free assistance was received. How to do an amended return Example. How to do an amended return   You pay $9,300 in tuition and fees in December 2013, and your child began college in January 2014. How to do an amended return You filed your 2013 tax return on February 14, 2014, and claimed a lifetime learning credit of $1,860. How to do an amended return You claimed no other tax credits. How to do an amended return After you filed your return, your child withdrew from two courses and you received a refund of $2,900. How to do an amended return You must refigure your 2013 lifetime learning credit using $6,400 of qualified education expenses instead of $9,300. How to do an amended return The refigured credit is $1,280 and your tax liability increased by $580. How to do an amended return See instructions for your 2014 income tax return to determine where to include this tax. How to do an amended return If you pay qualified education expenses in 2014 for an academic period that begins in the first 3 months of 2014 and you receive tax-free educational assistance, or a refund, as described above, you may choose to reduce your qualified education expenses for 2014 instead of reducing your expenses for 2013. How to do an amended return Amounts that do not reduce qualified education expenses. How to do an amended return   Do not reduce qualified education expenses by amounts paid with funds the student receives as: Payment for services, such as wages, A loan, A gift, An inheritance, or A withdrawal from the student's personal savings. How to do an amended return   Do not reduce the qualified education expenses by any scholarship or fellowship reported as income on the student's tax return in the following situations. How to do an amended return The use of the money is restricted, by the terms of the scholarship or fellowship, to costs of attendance (such as room and board) other than qualified education expenses, as defined in Qualified education expenses in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions. How to do an amended return The use of the money is not restricted. How to do an amended return For examples, see Adjustments to Qualified Education Expenses in chapter 2, American Opportunity Credit. How to do an amended return Coordination with Pell grants and other scholarships. How to do an amended return   In some cases, you may be able to reduce your tax liability by including scholarships in income. How to do an amended return If you are claiming an education credit for a claimed dependent who received a scholarship, you may be able to reduce your tax liability if the student includes the scholarship in income. How to do an amended return The scholarship must be one that may (by its terms) be applied to expenses (such as room and board) other than qualified education expenses. How to do an amended return Example 1—No scholarship. How to do an amended return Judy Green, who is unmarried, is taking courses at a public community college to be recertified to teach in public schools. How to do an amended return Her AGI and her MAGI, for purposes of the credit, are $27,000. How to do an amended return Judy takes the standard deduction of $5,950 and personal exemption of $3,800, reducing her AGI to taxable income of $17,250 and her tax before credits is $2,156. How to do an amended return She claims no credits other than the lifetime learning credit. How to do an amended return In July 2013 she paid $700 for the summer 2013 semester; in August 2013 she paid $1,900 for the fall 2013 semester; and in December 2013 she paid another $1,900 for the spring semester beginning in January 2014. How to do an amended return Judy and the college meet all requirements for the lifetime learning tax credit. How to do an amended return She can use all of the $4,500 tuition she paid in 2013 when figuring her 2013 lifetime learning credit. How to do an amended return She claims a $900 lifetime learning credit and her tax after credits is $1,256. How to do an amended return Example 2—Scholarship excluded from income. How to do an amended return The facts are the same as in Example 1—No scholarship, except that Judy was awarded a $1,500 scholarship. How to do an amended return Under the terms of her scholarship, it may be used to pay any educational expenses, including room and board. How to do an amended return If Judy excludes the scholarship from income, she will be deemed (for purposes of computing her education credit) as having used the scholarship to pay for tuition, required fees, and course materials. How to do an amended return Only $3,000 of the $4,500 tuition she paid in 2013 could be used when figuring her 2013 lifetime learning credit. How to do an amended return Her lifetime learning credit would be reduced to $600 and her tax after credits would be $1,556. How to do an amended return Example 3—Scholarship included in income. How to do an amended return The facts are the same as in Example 2—Scholarship excluded from income. How to do an amended return If, unlike Example 2, Judy includes the $1,500 scholarship in income, she will be deemed to have used the entire scholarship to pay for room and board. How to do an amended return Judy's AGI will increase to $28,500, her taxable income would be $18,750, and her tax before credits would be $2,381. How to do an amended return She would be able to use the $4,500 of adjusted qualified education expenses to figure her credit. How to do an amended return Judy could claim a $900 lifetime learning credit and her tax after credits would be $1,481. How to do an amended return Expenses That Do Not Qualify Qualified education expenses do not include amounts paid for: Insurance, Medical expenses (including student health fees), Room and board, Transportation, or Similar personal, living, or family expenses. How to do an amended return This is true even if the amount must be paid to the institution as a condition of enrollment or attendance. How to do an amended return Sports, games, hobbies, and noncredit courses. How to do an amended return   Qualified education expenses generally do not include expenses that relate to any course of instruction or other education that involves sports, games or hobbies, or any noncredit course. How to do an amended return However, if the course of instruction or other education is part of the student's degree program or is taken by the student to acquire or improve job skills, these expenses can qualify. How to do an amended return Comprehensive or bundled fees. How to do an amended return   Some eligible educational institutions combine all of their fees for an academic period into one amount. How to do an amended return If you do not receive or do not have access to an allocation showing how much you paid for qualified education expenses and how much you paid for personal expenses, such as those listed above, contact the institution. How to do an amended return The institution is required to make this allocation and provide you with the amount you paid (or were billed) for qualified education expenses on Form 1098-T. How to do an amended return See Figuring the Credit , later, for more information about Form 1098-T. How to do an amended return Who Is an Eligible Student For purposes of the lifetime learning credit, an eligible student is a student who is enrolled in one or more courses at an eligible educational institution (as defined under Qualified Education Expenses , earlier). How to do an amended return Who Can Claim a Dependent's Expenses If there are qualified education expenses for your dependent during a tax year, either you or your dependent, but not both of you, can claim a lifetime learning credit for your dependent's expenses for that year. How to do an amended return For you to claim a lifetime learning credit for your dependent's expenses, you must also claim an exemption for your dependent. How to do an amended return You do this by listing your dependent's name and other required information on Form 1040 (or Form 1040A), line 6c. How to do an amended return IF you. How to do an amended return . How to do an amended return . How to do an amended return THEN only. How to do an amended return . How to do an amended return . How to do an amended return claim an exemption on your tax return for a dependent who is an eligible student you can claim the lifetime learning credit based on that dependent's expenses. How to do an amended return The dependent cannot claim the credit. How to do an amended return do not claim an exemption on your tax return for a dependent who is an eligible student (even if entitled to the exemption) the dependent can claim the lifetime learning credit. How to do an amended return You cannot claim the credit based on this dependent's expenses. How to do an amended return Expenses paid by dependent. How to do an amended return   If you claim an exemption on your tax return for an eligible student who is your dependent, treat any expenses paid (or deemed paid) by your dependent as if you had paid them. How to do an amended return Include these expenses when figuring the amount of your lifetime learning credit. How to do an amended return    Qualified education expenses paid directly to an eligible educational institution for your dependent under a court-approved divorce decree are treated as paid by your dependent. How to do an amended return Expenses paid by you. How to do an amended return   If you claim an exemption for a dependent who is an eligible student, only you can include any expenses you paid when figuring the amount of the lifetime learning credit. How to do an amended return If neither you nor anyone else claims an exemption for the dependent, only the dependent can include any expenses you paid when figuring the lifetime learning credit. How to do an amended return Expenses paid by others. How to do an amended return   Someone other than you, your spouse, or your dependent (such as a relative or former spouse) may make a payment directly to an eligible educational institution to pay for an eligible student's qualified education expenses. How to do an amended return In this case, the student is treated as receiving the payment from the other person and, in turn, paying the institution. How to do an amended return If you claim an exemption on your tax return for the student, you are considered to have paid the expenses. How to do an amended return Example. How to do an amended return In 2013, Ms. How to do an amended return Allen makes a payment directly to an eligible educational institution for her grandson Todd's qualified education expenses. How to do an amended return For purposes of claiming a lifetime learning credit, Todd is treated as receiving the money from his grandmother and, in turn, paying his qualified education expenses himself. How to do an amended return Unless an exemption for Todd is claimed on someone else's 2013 tax return, only Todd can use the payment to claim a lifetime learning credit. How to do an amended return If anyone, such as Todd's parents, claims an exemption for Todd on his or her 2013 tax return, whoever claims the exemption may be able to use the expenses to claim a lifetime learning credit. How to do an amended return If anyone else claims an exemption for Todd, Todd cannot claim a lifetime learning credit. How to do an amended return Tuition reduction. How to do an amended return   When an eligible educational institution provides a reduction in tuition to an employee of the institution (or spouse or dependent child of an employee), the amount of the reduction may or may not be taxable. How to do an amended return If it is taxable, the employee is treated as receiving a payment of that amount and, in turn, paying it to the educational institution on behalf of the student. How to do an amended return For more information on tuition reductions, see Qualified Tuition Reduction in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions. How to do an amended return Figuring the Credit The amount of the lifetime learning credit is 20% of the first $10,000 of qualified education expenses you paid for all eligible students. How to do an amended return The maximum amount of lifetime learning credit you can claim for 2013 is $2,000 (20% × $10,000). How to do an amended return However, that amount may be reduced based on your MAGI. How to do an amended return See Effect of the Amount of Your Income on the Amount of Your Credit , later. How to do an amended return Example. How to do an amended return Bruce and Toni Harper are married and file a joint tax return. How to do an amended return For 2013, their MAGI is $75,000. How to do an amended return Toni is attending a local college (an eligible educational institution) to earn credits toward a degree in nursing. How to do an amended return She already has a bachelor's degree in history and wants to become a nurse. How to do an amended return In August 2013, Toni paid $5,000 of qualified education expenses for her fall 2013 semester. How to do an amended return Bruce and Toni can claim a $1,000 (20% × $5,000) lifetime learning credit on their 2013 joint tax return. How to do an amended return Form 1098-T. How to do an amended return   To help you figure your lifetime learning credit, the student should receive Form 1098-T. How to do an amended return Generally, an eligible educational institution (such as a college or university) must send Form 1098-T (or acceptable substitute) to each enrolled student by January 31, 2014. How to do an amended return An institution may choose to report either payments received (box 1), or amounts billed (box 2), for qualified education expenses. How to do an amended return However, the amounts in boxes 1 and 2 of Form 1098-T might be different from what you paid. How to do an amended return When figuring the credit, use only the amounts you paid or are deemed to have paid in 2013 for qualified education expenses. How to do an amended return   In addition, Form 1098-T should give other information for that institution, such as adjustments made for prior years, the amount of scholarships or grants, reimbursements or refunds, and whether the student was enrolled at least half-time or was a graduate student. How to do an amended return    The eligible educational institution may ask for a completed Form W-9S, or similar statement to obtain the student's name, address, and taxpayer identification number. How to do an amended return Effect of the Amount of Your Income on the Amount of Your Credit The amount of your lifetime learning credit is phased out (gradually reduced) if your MAGI is between $53,000 and $63,000 ($107,000 and $127,000 if you file a joint return). How to do an amended return You cannot claim a lifetime learning credit if your MAGI is $63,000 or more ($127,000 or more if you file a joint return). How to do an amended return Modified adjusted gross income (MAGI). How to do an amended return   For most taxpayers, MAGI is adjusted gross income (AGI) as figured on their federal income tax return. How to do an amended return MAGI when using Form 1040A. How to do an amended return   If you file Form 1040A, your MAGI is the AGI on line 22 of that form. How to do an amended return MAGI when using Form 1040. How to do an amended return   If you file Form 1040, your MAGI is the AGI on line 38 of that form, modified by adding back any: Foreign earned income exclusion, Foreign housing exclusion, Foreign housing deduction, Exclusion of income by bona fide residents of American Samoa, and Exclusion of income by bona fide residents of Puerto Rico. How to do an amended return You can use Worksheet 3-1 to figure your MAGI. How to do an amended return Worksheet 3-1. How to do an amended return MAGI for the Lifetime Learning Credit 1. How to do an amended return Enter your adjusted gross income  (Form 1040, line 38)   1. How to do an amended return   2. How to do an amended return Enter your foreign earned income exclusion and/or housing exclusion (Form 2555, line 45, or Form 2555-EZ, line 18)   2. How to do an amended return       3. How to do an amended return Enter your foreign housing deduction (Form 2555, line 50)   3. How to do an amended return       4. How to do an amended return Enter the amount of income from Puerto Rico you are excluding   4. How to do an amended return       5. How to do an amended return Enter the amount of income from American Samoa you are excluding (Form 4563, line 15)   5. How to do an amended return       6. How to do an amended return Add the amounts on lines 2, 3, 4, and 5   6. How to do an amended return   7. How to do an amended return Add the amounts on lines 1 and 6. How to do an amended return  This is your modified adjusted  gross income. How to do an amended return Enter this amount  on Form 8863, line 14   7. How to do an amended return   Phaseout. How to do an amended return   If your MAGI is within the range of incomes where the credit must be reduced, you will figure your reduced credit using lines 10-18 of Form 8863. How to do an amended return The same method is shown in the following example. How to do an amended return Example. How to do an amended return You are filing a joint return with a MAGI of $112,000. How to do an amended return In 2013, you paid $6,600 of qualified education expenses. How to do an amended return You figure the tentative lifetime learning credit (20% of the first $10,000 of qualified education expenses you paid for all eligible students). How to do an amended return The result is a $1,320 (20% x $6,600) tentative credit. How to do an amended return Because your MAGI is within the range of incomes where the credit must be reduced, you must multiply your tentative credit ($1,320) by a fraction. How to do an amended return The numerator of the fraction is $127,000 (the upper limit for those filing a joint return) minus your MAGI. How to do an amended return The denominator is $20,000, the range of incomes for the phaseout ($107,000 to $127,000). How to do an amended return The result is the amount of your phased out (reduced) lifetime learning credit ($990). How to do an amended return   $1,320 × $127,000 − $112,000  $20,000 = $990   Claiming the Credit You claim the lifetime learning credit by completing Form 8863 and submitting it with your Form 1040 or 1040A. How to do an amended return Enter the credit on Form 1040, line 49, or Form 1040A, line 31. How to do an amended return Note. How to do an amended return In Appendix A, Illustrated Example of Education Credits at the end of this publication, there is an example illustrating the use of Form 8863 when both the American opportunity credit and the lifetime learning credit are claimed on the same tax return. How to do an amended return Prev  Up  Next   Home   More Online Publications
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Tax Information for Indian Tribal Governments

Per capita payments from trust funds held by the Department of the Interior
The Department of the Treasury and IRS issued interim guidance regarding per capita distributions made to members of Indian tribes from funds held in trust by the Secretary of the Interior.

Voluntary Withholding on Dividends and Other Distributions by Alaska Native Corporations
Shareholders who receive dividends or other distributions from an Alaska Native Corporation (ANC) can now request voluntary withholding.

Indian fishing rights-related activities income eligible for qualified retirement plan contributions
Amendments to the Treasury Regulations clarify that Indian tribal members who earn compensation for services performed in a fishing rights-related activity can contribute those amounts to a qualified retirement plan.

ITG Voluntary Closing Agreement Process
Information for Indian Tribes that are interested in an effective way of correcting a past error, mistake or misinterpretation of tax law or filing requirement.

Treasury and the IRS Release Tribal General Welfare Guidance
The Department of the Treasury announced key economic development initiatives that address the unique set of challenges faced by the Native American community.

Per Capita Payments from Certain Tribal Trust Settlement Proceeds Excluded from Income
Updated information regarding per capita payments from Tribal trust settlements

Reallocation Process Announced for Tribal Economic Development Bonds
The IRS has announced a process for reallocation of available amounts of volume cap for Tribal Economic Development Bonds.

Casino Issues
Information into the intent of Title 31 (anti-money laundering), non-Title 31 and other casino issues.

Indian Health Care Benefits and Section 139D
Frequently asked questions concerning Indian Health Care Benefits and Section 139D.

Recent Developments
Newsworthy items which may affect Indian tribal governments.

ITG News
News information of interest to Indian tribal governments.

IRS Requests Consultation on General Welfare and Issues Important New Guidance that will affect Indian Tribal Governments
The IRS has issued several important items of guidance that affect Indian Tribal Governments. Items include a Retirement Plan phone forum, reallocation of Tribal Economic Development Bonds, the Pension Protection Act and governmental plans, IGRA trust guidance, and a request for consultation on the general welfare doctrine.

ACT Public Meeting, Agenda, New Member
One new member joined ITG project team; report on recommendations to be released in June.

Voluntary Classification Settlement Program
Employers may reclassify workers as employees for future periods with partial employment tax relief.

Indian Tribal Governments Webinars and Phone Forums
Educational recordings covering topics for Indian Tribal governments

ITG Published Guidance
Links to guidance published by the Service regarding federal tax administration as it relates to tribal governments.

New Annual Electronic Filing Requirement for Small Tax-Exempt Organizations
Beginning in 2008, small tax-exempt organizations that previously were not required to file returns risk losing their tax-exempt status if they do not file an annual electronic notice (e-Postcard Form 990-N). This will include small tax-exempt organizations operated by, or on behalf of Indian tribal governments.

Tax Status of Tribes
Different ways tribal entities can be structured and the tax implications of each; what constitutes a federally recognized tribe and the benefits of such; and the taxability of certain types of income to tribal members.

Natural Resources
Information regarding tribal governments federal tax obligations and responsibilities regarding income from natural resources, IRC Section 7873, etc.

Excise Taxes
Information regarding excise taxes, who is liable, and definitions.

Tax Information for Charities and Other Non-Profits - ITG
Information for Tribal governments as well as other organizations on charitable organizations and deductions.

Tax Exempt Bonds
Insights into tribal governments' economic benefits of issuing tax exempt bonds; their ability to issue tax exempt bonds; what requirements must be met; and other applicable general rules.

FAQs for Indian Tribal Governments regarding Targeted Tax Benefits
Insights into the employment tax credits (Indian Employment, Work Opportunity, Welfare-to-Work, and Empowerment Zone Employment) available to those doing business with or employing Native Americans, and special depreciation rules for qualified property used on reservations.

Links to Helpful Resources
A repository of resources for specific research and/or general knowledge.

IRS’ Electronic Filing and E-Services
The IRS continues to expand its electronic filing and e-Services to allow tax professionals and payers to do business with the IRS electronically.

IRS Privacy Policy
The Internal Revenue Service's Office of Privacy ensures your personal information is protected whenever you visit the IRS website.

Helpful Tip
Want to visit us again? Just remember www.irs.gov/tribes. It's that easy!

ITG P.R.E.P.A.R.E
Instructions for ITG customers when they experience an interruption in tax preparation for whatever reason.

ITG 2011 Customer Satisfaction Survey
ITG 2011 Customer Satisfaction Survey

Treasury Department Tribal Consultation and Coordination
The Treasury Department now has a web page for Tribal Consultation.

ITG Employment Taxes
Information for Indian Tribal Governments with regard to the withholding, filing, and paying of employment taxes.

Frequently Asked Questions and Answers for Indian Tribal Governments
General information about subjects of interest to tribal governments.

Tip Income
Information regarding the taxability of tip income, employee and employer reporting responsibilities, and the Tip Rate Determination Agreement (TRDA) program.

Information Reporting
Information into what types of forms need to be filed based on the types of income being reported, and the rules on backup withholding - when it's applicable and how it's reported.

Fraud and Abusive Schemes Information for Indian Tribal Governments
Information on abusive schemes for Indian Tribal Governments.

Voluntary Classification Settlement Program (VCSP)
This page describes the new Voluntary Classification Settlement Program for employers.

Page Last Reviewed or Updated: 28-Mar-2014

The How To Do An Amended Return

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