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How To Fill Out 1040ez 2012

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How To Fill Out 1040ez 2012

How to fill out 1040ez 2012 8. How to fill out 1040ez 2012   Dividends and Other Distributions Table of Contents Reminder Introduction Useful Items - You may want to see: General InformationDividends not reported on Form 1099-DIV. How to fill out 1040ez 2012 Reporting tax withheld. How to fill out 1040ez 2012 Nominees. How to fill out 1040ez 2012 Ordinary DividendsQualified Dividends Dividends Used to Buy More Stock Money Market Funds Capital Gain DistributionsBasis adjustment. How to fill out 1040ez 2012 Nondividend DistributionsLiquidating Distributions Distributions of Stock and Stock Rights Other DistributionsInformation reporting requirement. How to fill out 1040ez 2012 Alternative minimum tax treatment. How to fill out 1040ez 2012 How To Report Dividend IncomeInvestment interest deducted. How to fill out 1040ez 2012 Reminder Foreign-source income. How to fill out 1040ez 2012  If you are a U. How to fill out 1040ez 2012 S. How to fill out 1040ez 2012 citizen with dividend income from sources outside the United States (foreign-source income), you must report that income on your tax return unless it is exempt by U. How to fill out 1040ez 2012 S. How to fill out 1040ez 2012 law. How to fill out 1040ez 2012 This is true whether you reside inside or outside the United States and whether or not you receive a Form 1099 from the foreign payer. How to fill out 1040ez 2012 Introduction This chapter discusses the tax treatment of: Ordinary dividends, Capital gain distributions, Nondividend distributions, and Other distributions you may receive from a corporation or a mutual fund. How to fill out 1040ez 2012 This chapter also explains how to report dividend income on your tax return. How to fill out 1040ez 2012 Dividends are distributions of money, stock, or other property paid to you by a corporation or by a mutual fund. How to fill out 1040ez 2012 You also may receive dividends through a partnership, an estate, a trust, or an association that is taxed as a corporation. How to fill out 1040ez 2012 However, some amounts you receive that are called dividends are actually interest income. How to fill out 1040ez 2012 (See Dividends that are actually interest under Taxable Interest in chapter 7. How to fill out 1040ez 2012 ) Most distributions are paid in cash (or check). How to fill out 1040ez 2012 However, distributions can consist of more stock, stock rights, other property, or services. How to fill out 1040ez 2012 Useful Items - You may want to see: Publication 514 Foreign Tax Credit for Individuals 550 Investment Income and Expenses Form (and Instructions) Schedule B (Form 1040A or 1040) Interest and Ordinary Dividends General Information This section discusses general rules for dividend income. How to fill out 1040ez 2012 Tax on unearned income of certain children. How to fill out 1040ez 2012   Part of a child's 2013 unearned income may be taxed at the parent's tax rate. How to fill out 1040ez 2012 If it is, Form 8615, Tax for Certain Children Who Have Unearned Income, must be completed and attached to the child's tax return. How to fill out 1040ez 2012 If not, Form 8615 is not required and the child's income is taxed at his or her own tax rate. How to fill out 1040ez 2012    Some parents can choose to include the child's interest and dividends on the parent's return if certain requirements are met. How to fill out 1040ez 2012 Use Form 8814, Parents' Election To Report Child's Interest and Dividends, for this purpose. How to fill out 1040ez 2012   For more information about the tax on unearned income of children and the parents' election, see chapter 31. How to fill out 1040ez 2012 Beneficiary of an estate or trust. How to fill out 1040ez 2012    Dividends and other distributions you receive as a beneficiary of an estate or trust are generally taxable income. How to fill out 1040ez 2012 You should receive a Schedule K-1 (Form 1041), Beneficiary's Share of Income, Deductions, Credits, etc. How to fill out 1040ez 2012 , from the fiduciary. How to fill out 1040ez 2012 Your copy of Schedule K-1 (Form 1041) and its instructions will tell you where to report the income on your Form 1040. How to fill out 1040ez 2012 Social security number (SSN) or individual taxpayer identification number (ITIN). How to fill out 1040ez 2012    You must give your SSN or ITIN to any person required by federal tax law to make a return, statement, or other document that relates to you. How to fill out 1040ez 2012 This includes payers of dividends. How to fill out 1040ez 2012 If you do not give your SSN or ITIN to the payer of dividends, you may have to pay a penalty. How to fill out 1040ez 2012 For more information on SSNs and ITINs, see Social Security Number (SSN) in chapter 1. How to fill out 1040ez 2012 Backup withholding. How to fill out 1040ez 2012   Your dividend income is generally not subject to regular withholding. How to fill out 1040ez 2012 However, it may be subject to backup withholding to ensure that income tax is collected on the income. How to fill out 1040ez 2012 Under backup withholding, the payer of dividends must withhold, as income tax, on the amount you are paid, applying the appropriate withholding rate. How to fill out 1040ez 2012   Backup withholding may also be required if the IRS has determined that you underreported your interest or dividend income. How to fill out 1040ez 2012 For more information, see Backup Withholding in chapter 4. How to fill out 1040ez 2012 Stock certificate in two or more names. How to fill out 1040ez 2012   If two or more persons hold stock as joint tenants, tenants by the entirety, or tenants in common, each person's share of any dividends from the stock is determined by local law. How to fill out 1040ez 2012 Form 1099-DIV. How to fill out 1040ez 2012   Most corporations and mutual funds use Form 1099-DIV, Dividends and Distributions, to show you the distributions you received from them during the year. How to fill out 1040ez 2012 Keep this form with your records. How to fill out 1040ez 2012 You do not have to attach it to your tax return. How to fill out 1040ez 2012 Dividends not reported on Form 1099-DIV. How to fill out 1040ez 2012   Even if you do not receive Form 1099-DIV, you must still report all your taxable dividend income. How to fill out 1040ez 2012 For example, you may receive distributive shares of dividends from partnerships or S corporations. How to fill out 1040ez 2012 These dividends are reported to you on Schedule K-1 (Form 1065), Partner's Share of Income, Deductions, Credits, etc. How to fill out 1040ez 2012 , and Schedule K-1 (Form 1120S), Shareholder's Share of Income, Deductions, Credits, etc. How to fill out 1040ez 2012 Reporting tax withheld. How to fill out 1040ez 2012   If tax is withheld from your dividend income, the payer must give you a Form 1099-DIV that indicates the amount withheld. How to fill out 1040ez 2012 Nominees. How to fill out 1040ez 2012   If someone receives distributions as a nominee for you, that person should give you a Form 1099-DIV, which will show distributions received on your behalf. How to fill out 1040ez 2012 Form 1099-MISC. How to fill out 1040ez 2012   Certain substitute payments in lieu of dividends or tax-exempt interest received by a broker on your behalf must be reported to you on Form 1099-MISC, Miscellaneous Income, or a similar statement. How to fill out 1040ez 2012 See Reporting Substitute Payments under Short Sales in chapter 4 of Publication 550 for more information about reporting these payments. How to fill out 1040ez 2012 Incorrect amount shown on a Form 1099. How to fill out 1040ez 2012   If you receive a Form 1099 that shows an incorrect amount (or other incorrect information), you should ask the issuer for a corrected form. How to fill out 1040ez 2012 The new Form 1099 you receive will be marked “Corrected. How to fill out 1040ez 2012 ” Dividends on stock sold. How to fill out 1040ez 2012   If stock is sold, exchanged, or otherwise disposed of after a dividend is declared but before it is paid, the owner of record (usually the payee shown on the dividend check) must include the dividend in income. How to fill out 1040ez 2012 Dividends received in January. How to fill out 1040ez 2012   If a mutual fund (or other regulated investment company) or real estate investment trust (REIT) declares a dividend (including any exempt-interest dividend or capital gain distribution) in October, November, or December, payable to shareholders of record on a date in one of those months but actually pays the dividend during January of the next calendar year, you are considered to have received the dividend on December 31. How to fill out 1040ez 2012 You report the dividend in the year it was declared. How to fill out 1040ez 2012 Ordinary Dividends Ordinary (taxable) dividends are the most common type of distribution from a corporation or a mutual fund. How to fill out 1040ez 2012 They are paid out of earnings and profits and are ordinary income to you. How to fill out 1040ez 2012 This means they are not capital gains. How to fill out 1040ez 2012 You can assume that any dividend you receive on common or preferred stock is an ordinary dividend unless the paying corporation or mutual fund tells you otherwise. How to fill out 1040ez 2012 Ordinary dividends will be shown in box 1a of the Form 1099-DIV you receive. How to fill out 1040ez 2012 Qualified Dividends Qualified dividends are the ordinary dividends subject to the same 0%, 15%, or 20% maximum tax rate that applies to net capital gain. How to fill out 1040ez 2012 They should be shown in box 1b of the Form 1099-DIV you receive. How to fill out 1040ez 2012 The maximum rate of tax on qualified dividends is: 0% on any amount that otherwise would be taxed at a 10% or 15% rate. How to fill out 1040ez 2012 15% on any amount that otherwise would be taxed at rates greater than 15% but less than 39. How to fill out 1040ez 2012 6%. How to fill out 1040ez 2012 20% on any amount that otherwise would be taxed at a 39. How to fill out 1040ez 2012 6% rate. How to fill out 1040ez 2012 To qualify for the maximum rate, all of the following requirements must be met. How to fill out 1040ez 2012 The dividends must have been paid by a U. How to fill out 1040ez 2012 S. How to fill out 1040ez 2012 corporation or a qualified foreign corporation. How to fill out 1040ez 2012 (See Qualified foreign corporation , later. How to fill out 1040ez 2012 ) The dividends are not of the type listed later under Dividends that are not qualified dividends . How to fill out 1040ez 2012 You meet the holding period (discussed next). How to fill out 1040ez 2012 Holding period. How to fill out 1040ez 2012   You must have held the stock for more than 60 days during the 121-day period that begins 60 days before the ex-dividend date. How to fill out 1040ez 2012 The ex-dividend date is the first date following the declaration of a dividend on which the buyer of a stock is not entitled to receive the next dividend payment. How to fill out 1040ez 2012 Instead, the seller will get the dividend. How to fill out 1040ez 2012   When counting the number of days you held the stock, include the day you disposed of the stock, but not the day you acquired it. How to fill out 1040ez 2012 See the examples later. How to fill out 1040ez 2012 Exception for preferred stock. How to fill out 1040ez 2012   In the case of preferred stock, you must have held the stock more than 90 days during the 181-day period that begins 90 days before the ex-dividend date if the dividends are due to periods totaling more than 366 days. How to fill out 1040ez 2012 If the preferred dividends are due to periods totaling less than 367 days, the holding period in the previous paragraph applies. How to fill out 1040ez 2012 Example 1. How to fill out 1040ez 2012 You bought 5,000 shares of XYZ Corp. How to fill out 1040ez 2012 common stock on July 9, 2013. How to fill out 1040ez 2012 XYZ Corp. How to fill out 1040ez 2012 paid a cash dividend of 10 cents per share. How to fill out 1040ez 2012 The ex-dividend date was July 16, 2013. How to fill out 1040ez 2012 Your Form 1099-DIV from XYZ Corp. How to fill out 1040ez 2012 shows $500 in box 1a (ordinary dividends) and in box 1b (qualified dividends). How to fill out 1040ez 2012 However, you sold the 5,000 shares on August 12, 2013. How to fill out 1040ez 2012 You held your shares of XYZ Corp. How to fill out 1040ez 2012 for only 34 days of the 121-day period (from July 10, 2013, through August 12, 2013). How to fill out 1040ez 2012 The 121-day period began on May 17, 2013 (60 days before the ex-dividend date), and ended on September 14, 2013. How to fill out 1040ez 2012 You have no qualified dividends from XYZ Corp. How to fill out 1040ez 2012 because you held the XYZ stock for less than 61 days. How to fill out 1040ez 2012 Example 2. How to fill out 1040ez 2012 Assume the same facts as in Example 1 except that you bought the stock on July 15, 2013 (the day before the ex-dividend date), and you sold the stock on September 16, 2013. How to fill out 1040ez 2012 You held the stock for 63 days (from July 16, 2013, through September 16, 2013). How to fill out 1040ez 2012 The $500 of qualified dividends shown in box 1b of your Form 1099-DIV are all qualified dividends because you held the stock for 61 days of the 121-day period (from July 16, 2013, through September 14, 2013). How to fill out 1040ez 2012 Example 3. How to fill out 1040ez 2012 You bought 10,000 shares of ABC Mutual Fund common stock on July 9, 2013. How to fill out 1040ez 2012 ABC Mutual Fund paid a cash dividend of 10 cents a share. How to fill out 1040ez 2012 The ex-dividend date was July 16, 2013. How to fill out 1040ez 2012 The ABC Mutual Fund advises you that the portion of the dividend eligible to be treated as qualified dividends equals 2 cents per share. How to fill out 1040ez 2012 Your Form 1099-DIV from ABC Mutual Fund shows total ordinary dividends of $1,000 and qualified dividends of $200. How to fill out 1040ez 2012 However, you sold the 10,000 shares on August 12, 2013. How to fill out 1040ez 2012 You have no qualified dividends from ABC Mutual Fund because you held the ABC Mutual Fund stock for less than 61 days. How to fill out 1040ez 2012 Holding period reduced where risk of loss is diminished. How to fill out 1040ez 2012   When determining whether you met the minimum holding period discussed earlier, you cannot count any day during which you meet any of the following conditions. How to fill out 1040ez 2012 You had an option to sell, were under a contractual obligation to sell, or had made (and not closed) a short sale of substantially identical stock or securities. How to fill out 1040ez 2012 You were grantor (writer) of an option to buy substantially identical stock or securities. How to fill out 1040ez 2012 Your risk of loss is diminished by holding one or more other positions in substantially similar or related property. How to fill out 1040ez 2012   For information about how to apply condition (3), see Regulations section 1. How to fill out 1040ez 2012 246-5. How to fill out 1040ez 2012 Qualified foreign corporation. How to fill out 1040ez 2012   A foreign corporation is a qualified foreign corporation if it meets any of the following conditions. How to fill out 1040ez 2012 The corporation is incorporated in a U. How to fill out 1040ez 2012 S. How to fill out 1040ez 2012 possession. How to fill out 1040ez 2012 The corporation is eligible for the benefits of a comprehensive income tax treaty with the United States that the Treasury Department determines is satisfactory for this purpose and that includes an exchange of information program. How to fill out 1040ez 2012 For a list of those treaties, see Table 8-1. How to fill out 1040ez 2012 The corporation does not meet (1) or (2) above, but the stock for which the dividend is paid is readily tradable on an established securities market in the United States. How to fill out 1040ez 2012 See Readily tradable stock , later. How to fill out 1040ez 2012 Exception. How to fill out 1040ez 2012   A corporation is not a qualified foreign corporation if it is a passive foreign investment company during its tax year in which the dividends are paid or during its previous tax year. How to fill out 1040ez 2012 Readily tradable stock. How to fill out 1040ez 2012   Any stock (such as common, ordinary, or preferred) or an American depositary receipt in respect of that stock is considered to satisfy requirement (3) under Qualified foreign corporation , if it is listed on a national securities exchange that is registered under section 6 of the Securities Exchange Act of 1934 or on the Nasdaq Stock Market. How to fill out 1040ez 2012 For a list of the exchanges that meet these requirements, see www. How to fill out 1040ez 2012 sec. How to fill out 1040ez 2012 gov/divisions/marketreg/mrexchanges. How to fill out 1040ez 2012 shtml. How to fill out 1040ez 2012 Dividends that are not qualified dividends. How to fill out 1040ez 2012   The following dividends are not qualified dividends. How to fill out 1040ez 2012 They are not qualified dividends even if they are shown in box 1b of Form 1099-DIV. How to fill out 1040ez 2012 Capital gain distributions. How to fill out 1040ez 2012 Dividends paid on deposits with mutual savings banks, cooperative banks, credit unions, U. How to fill out 1040ez 2012 S. How to fill out 1040ez 2012 building and loan associations, U. How to fill out 1040ez 2012 S. How to fill out 1040ez 2012 savings and loan associations, federal savings and loan associations, and similar financial institutions. How to fill out 1040ez 2012 (Report these amounts as interest income. How to fill out 1040ez 2012 ) Dividends from a corporation that is a tax-exempt organization or farmer's cooperative during the corporation's tax year in which the dividends were paid or during the corporation's previous tax year. How to fill out 1040ez 2012 Dividends paid by a corporation on employer securities held on the date of record by an employee stock ownership plan (ESOP) maintained by that corporation. How to fill out 1040ez 2012 Dividends on any share of stock to the extent you are obligated (whether under a short sale or otherwise) to make related payments for positions in substantially similar or related property. How to fill out 1040ez 2012 Payments in lieu of dividends, but only if you know or have reason to know the payments are not qualified dividends. How to fill out 1040ez 2012 Payments shown in Form 1099-DIV, box 1b, from a foreign corporation to the extent you know or have reason to know the payments are not qualified dividends. How to fill out 1040ez 2012 Table 8-1. How to fill out 1040ez 2012 Income Tax Treaties Income tax treaties the United States has with the following countries satisfy requirement (2) under Qualified foreign corporation. How to fill out 1040ez 2012 Australia Indonesia Romania Austria Ireland Russian Bangladesh Israel Federation Barbados Italy Slovak Belgium Jamaica Republic Bulgaria Japan Slovenia Canada Kazakhstan South Africa China Korea Spain Cyprus Latvia Sri Lanka Czech Lithuania Sweden Republic Luxembourg Switzerland Denmark Malta Thailand Egypt Mexico Trinidad and Estonia Morocco Tobago Finland Netherlands Tunisia France New Zealand Turkey Germany Norway Ukraine Greece Pakistan United Hungary Philippines Kingdom Iceland Poland Venezuela India Portugal     Dividends Used to Buy More Stock The corporation in which you own stock may have a dividend reinvestment plan. How to fill out 1040ez 2012 This plan lets you choose to use your dividends to buy (through an agent) more shares of stock in the corporation instead of receiving the dividends in cash. How to fill out 1040ez 2012 Most mutual funds also permit shareholders to automatically reinvest distributions in more shares in the fund, instead of receiving cash. How to fill out 1040ez 2012 If you use your dividends to buy more stock at a price equal to its fair market value, you still must report the dividends as income. How to fill out 1040ez 2012 If you are a member of a dividend reinvestment plan that lets you buy more stock at a price less than its fair market value, you must report as dividend income the fair market value of the additional stock on the dividend payment date. How to fill out 1040ez 2012 You also must report as dividend income any service charge subtracted from your cash dividends before the dividends are used to buy the additional stock. How to fill out 1040ez 2012 But you may be able to deduct the service charge. How to fill out 1040ez 2012 See chapter 28 for more information about deducting expenses of producing income. How to fill out 1040ez 2012 In some dividend reinvestment plans, you can invest more cash to buy shares of stock at a price less than fair market value. How to fill out 1040ez 2012 If you choose to do this, you must report as dividend income the difference between the cash you invest and the fair market value of the stock you buy. How to fill out 1040ez 2012 When figuring this amount, use the fair market value of the stock on the dividend payment date. How to fill out 1040ez 2012 Money Market Funds Report amounts you receive from money market funds as dividend income. How to fill out 1040ez 2012 Money market funds are a type of mutual fund and should not be confused with bank money market accounts that pay interest. How to fill out 1040ez 2012 Capital Gain Distributions Capital gain distributions (also called capital gain dividends) are paid to you or credited to your account by mutual funds (or other regulated investment companies) and real estate investment trusts (REITs). How to fill out 1040ez 2012 They will be shown in box 2a of the Form 1099-DIV you receive from the mutual fund or REIT. How to fill out 1040ez 2012 Report capital gain distributions as long-term capital gains, regardless of how long you owned your shares in the mutual fund or REIT. How to fill out 1040ez 2012 Undistributed capital gains of mutual funds and REITs. How to fill out 1040ez 2012    Some mutual funds and REITs keep their long-term capital gains and pay tax on them. How to fill out 1040ez 2012 You must treat your share of these gains as distributions, even though you did not actually receive them. How to fill out 1040ez 2012 However, they are not included on Form 1099-DIV. How to fill out 1040ez 2012 Instead, they are reported to you in box 1a of Form 2439. How to fill out 1040ez 2012   Report undistributed capital gains (box 1a of Form 2439) as long-term capital gains on Schedule D (Form 1040), column (h), line 11. How to fill out 1040ez 2012   The tax paid on these gains by the mutual fund or REIT is shown in box 2 of Form 2439. How to fill out 1040ez 2012 You take credit for this tax by including it on Form 1040, line 71, and checking box a on that line. How to fill out 1040ez 2012 Attach Copy B of Form 2439 to your return, and keep Copy C for your records. How to fill out 1040ez 2012 Basis adjustment. How to fill out 1040ez 2012   Increase your basis in your mutual fund, or your interest in a REIT, by the difference between the gain you report and the credit you claim for the tax paid. How to fill out 1040ez 2012 Additional information. How to fill out 1040ez 2012   For more information on the treatment of distributions from mutual funds, see Publication 550. How to fill out 1040ez 2012 Nondividend Distributions A nondividend distribution is a distribution that is not paid out of the earnings and profits of a corporation or a mutual fund. How to fill out 1040ez 2012 You should receive a Form 1099-DIV or other statement showing the nondividend distribution. How to fill out 1040ez 2012 On Form 1099-DIV, a nondividend distribution will be shown in box 3. How to fill out 1040ez 2012 If you do not receive such a statement, you report the distribution as an ordinary dividend. How to fill out 1040ez 2012 Basis adjustment. How to fill out 1040ez 2012   A nondividend distribution reduces the basis of your stock. How to fill out 1040ez 2012 It is not taxed until your basis in the stock is fully recovered. How to fill out 1040ez 2012 This nontaxable portion is also called a return of capital; it is a return of your investment in the stock of the company. How to fill out 1040ez 2012 If you buy stock in a corporation in different lots at different times, and you cannot definitely identify the shares subject to the nondividend distribution, reduce the basis of your earliest purchases first. How to fill out 1040ez 2012   When the basis of your stock has been reduced to zero, report any additional nondividend distribution you receive as a capital gain. How to fill out 1040ez 2012 Whether you report it as a long-term or short-term capital gain depends on how long you have held the stock. How to fill out 1040ez 2012 See Holding Period in chapter 14. How to fill out 1040ez 2012 Example. How to fill out 1040ez 2012 You bought stock in 2000 for $100. How to fill out 1040ez 2012 In 2003, you received a nondividend distribution of $80. How to fill out 1040ez 2012 You did not include this amount in your income, but you reduced the basis of your stock to $20. How to fill out 1040ez 2012 You received a nondividend distribution of $30 in 2013. How to fill out 1040ez 2012 The first $20 of this amount reduced your basis to zero. How to fill out 1040ez 2012 You report the other $10 as a long-term capital gain for 2013. How to fill out 1040ez 2012 You must report as a long-term capital gain any nondividend distribution you receive on this stock in later years. How to fill out 1040ez 2012 Liquidating Distributions Liquidating distributions, sometimes called liquidating dividends, are distributions you receive during a partial or complete liquidation of a corporation. How to fill out 1040ez 2012 These distributions are, at least in part, one form of a return of capital. How to fill out 1040ez 2012 They may be paid in one or more installments. How to fill out 1040ez 2012 You will receive Form 1099-DIV from the corporation showing you the amount of the liquidating distribution in box 8 or 9. How to fill out 1040ez 2012 For more information on liquidating distributions, see chapter 1 of Publication 550. How to fill out 1040ez 2012 Distributions of Stock and Stock Rights Distributions by a corporation of its own stock are commonly known as stock dividends. How to fill out 1040ez 2012 Stock rights (also known as “stock options”) are distributions by a corporation of rights to acquire the corporation's stock. How to fill out 1040ez 2012 Generally, stock dividends and stock rights are not taxable to you, and you do not report them on your return. How to fill out 1040ez 2012 Taxable stock dividends and stock rights. How to fill out 1040ez 2012   Distributions of stock dividends and stock rights are taxable to you if any of the following apply. How to fill out 1040ez 2012 You or any other shareholder have the choice to receive cash or other property instead of stock or stock rights. How to fill out 1040ez 2012 The distribution gives cash or other property to some shareholders and an increase in the percentage interest in the corporation's assets or earnings and profits to other shareholders. How to fill out 1040ez 2012 The distribution is in convertible preferred stock and has the same result as in (2). How to fill out 1040ez 2012 The distribution gives preferred stock to some common stock shareholders and common stock to other common stock shareholders. How to fill out 1040ez 2012 The distribution is on preferred stock. How to fill out 1040ez 2012 (The distribution, however, is not taxable if it is an increase in the conversion ratio of convertible preferred stock made solely to take into account a stock dividend, stock split, or similar event that would otherwise result in reducing the conversion right. How to fill out 1040ez 2012 )   The term “stock” includes rights to acquire stock, and the term “shareholder” includes a holder of rights or of convertible securities. How to fill out 1040ez 2012 If you receive taxable stock dividends or stock rights, include their fair market value at the time of distribution in your income. How to fill out 1040ez 2012 Preferred stock redeemable at a premium. How to fill out 1040ez 2012   If you hold preferred stock having a redemption price higher than its issue price, the difference (the redemption premium) generally is taxable as a constructive distribution of additional stock on the preferred stock. How to fill out 1040ez 2012 For more information, see chapter 1 of Publication 550. How to fill out 1040ez 2012 Basis. How to fill out 1040ez 2012   Your basis in stock or stock rights received in a taxable distribution is their fair market value when distributed. How to fill out 1040ez 2012 If you receive stock or stock rights that are not taxable to you, see Stocks and Bonds under Basis of Investment Property in chapter 4 of Publication 550 for information on how to figure their basis. How to fill out 1040ez 2012 Fractional shares. How to fill out 1040ez 2012    You may not own enough stock in a corporation to receive a full share of stock if the corporation declares a stock dividend. How to fill out 1040ez 2012 However, with the approval of the shareholders, the corporation may set up a plan in which fractional shares are not issued but instead are sold, and the cash proceeds are given to the shareholders. How to fill out 1040ez 2012 Any cash you receive for fractional shares under such a plan is treated as an amount realized on the sale of the fractional shares. How to fill out 1040ez 2012 Report this transaction on Form 8949, Sales and Other Dispositions of Capital Assets. How to fill out 1040ez 2012 Enter your gain or loss, the difference between the cash you receive and the basis of the fractional shares sold, in column (h) of Schedule D (Form 1040) in Part I or Part II, whichever is appropriate. How to fill out 1040ez 2012    Report these transactions on Form 8949 with the correct box checked. How to fill out 1040ez 2012   For more information on Form 8949 and Schedule D (Form 1040), see chapter 4 of Publication 550. How to fill out 1040ez 2012 Also see the Instructions for Form 8949 and the Instructions for Schedule D (Form 1040). How to fill out 1040ez 2012 Example. How to fill out 1040ez 2012 You own one share of common stock that you bought on January 3, 2004, for $100. How to fill out 1040ez 2012 The corporation declared a common stock dividend of 5% on June 29, 2013. How to fill out 1040ez 2012 The fair market value of the stock at the time the stock dividend was declared was $200. How to fill out 1040ez 2012 You were paid $10 for the fractional-share stock dividend under a plan described in the discussion above. How to fill out 1040ez 2012 You figure your gain or loss as follows: Fair market value of old stock $200. How to fill out 1040ez 2012 00 Fair market value of stock dividend (cash received) +10. How to fill out 1040ez 2012 00 Fair market value of old stock and stock dividend $210. How to fill out 1040ez 2012 00 Basis (cost) of old stock after the stock dividend (($200 ÷ $210) × $100) $95. How to fill out 1040ez 2012 24 Basis (cost) of stock dividend (($10 ÷ $210) × $100) + 4. How to fill out 1040ez 2012 76 Total $100. How to fill out 1040ez 2012 00 Cash received $10. How to fill out 1040ez 2012 00 Basis (cost) of stock dividend − 4. How to fill out 1040ez 2012 76 Gain $5. How to fill out 1040ez 2012 24 Because you had held the share of stock for more than 1 year at the time the stock dividend was declared, your gain on the stock dividend is a long-term capital gain. How to fill out 1040ez 2012 Scrip dividends. How to fill out 1040ez 2012   A corporation that declares a stock dividend may issue you a scrip certificate that entitles you to a fractional share. How to fill out 1040ez 2012 The certificate is generally nontaxable when you receive it. How to fill out 1040ez 2012 If you choose to have the corporation sell the certificate for you and give you the proceeds, your gain or loss is the difference between the proceeds and the portion of your basis in the corporation's stock allocated to the certificate. How to fill out 1040ez 2012   However, if you receive a scrip certificate that you can choose to redeem for cash instead of stock, the certificate is taxable when you receive it. How to fill out 1040ez 2012 You must include its fair market value in income on the date you receive it. How to fill out 1040ez 2012 Other Distributions You may receive any of the following distributions during the year. How to fill out 1040ez 2012 Exempt-interest dividends. How to fill out 1040ez 2012   Exempt-interest dividends you receive from a mutual fund or other regulated investment company, including those received from a qualified fund of funds in any tax year beginning after December 22, 2010, are not included in your taxable income. How to fill out 1040ez 2012 Exempt-interest dividends should be shown in box 10 of Form 1099-DIV. How to fill out 1040ez 2012 Information reporting requirement. How to fill out 1040ez 2012   Although exempt-interest dividends are not taxable, you must show them on your tax return if you have to file a return. How to fill out 1040ez 2012 This is an information reporting requirement and does not change the exempt-interest dividends to taxable income. How to fill out 1040ez 2012 Alternative minimum tax treatment. How to fill out 1040ez 2012   Exempt-interest dividends paid from specified private activity bonds may be subject to the alternative minimum tax. How to fill out 1040ez 2012 See Alternative Minimum Tax (AMT) in chapter 30 for more information. How to fill out 1040ez 2012 Dividends on insurance policies. How to fill out 1040ez 2012    Insurance policy dividends the insurer keeps and uses to pay your premiums are not taxable. How to fill out 1040ez 2012 However, you must report as taxable interest income the interest that is paid or credited on dividends left with the insurance company. How to fill out 1040ez 2012    If dividends on an insurance contract (other than a modified endowment contract) are distributed to you, they are a partial return of the premiums you paid. How to fill out 1040ez 2012 Do not include them in your gross income until they are more than the total of all net premiums you paid for the contract. How to fill out 1040ez 2012 Report any taxable distributions on insurance policies on Form 1040, line 21. How to fill out 1040ez 2012 Dividends on veterans' insurance. How to fill out 1040ez 2012   Dividends you receive on veterans' insurance policies are not taxable. How to fill out 1040ez 2012 In addition, interest on dividends left with the Department of Veterans Affairs is not taxable. How to fill out 1040ez 2012 Patronage dividends. How to fill out 1040ez 2012   Generally, patronage dividends you receive in money from a cooperative organization are included in your income. How to fill out 1040ez 2012   Do not include in your income patronage dividends you receive on: Property bought for your personal use, or Capital assets or depreciable property bought for use in your business. How to fill out 1040ez 2012 But you must reduce the basis (cost) of the items bought. How to fill out 1040ez 2012 If the dividend is more than the adjusted basis of the assets, you must report the excess as income. How to fill out 1040ez 2012   These rules are the same whether the cooperative paying the dividend is a taxable or tax-exempt cooperative. How to fill out 1040ez 2012 Alaska Permanent Fund dividends. How to fill out 1040ez 2012    Do not report these amounts as dividends. How to fill out 1040ez 2012 Instead, report these amounts on Form 1040, line 21; Form 1040A, line 13; or Form 1040EZ, line 3. How to fill out 1040ez 2012 How To Report Dividend Income Generally, you can use either Form 1040 or Form 1040A to report your dividend income. How to fill out 1040ez 2012 Report the total of your ordinary dividends on line 9a of Form 1040 or Form 1040A. How to fill out 1040ez 2012 Report qualified dividends on line 9b of Form 1040 or Form 1040A. How to fill out 1040ez 2012 If you receive capital gain distributions, you may be able to use Form 1040A or you may have to use Form 1040. How to fill out 1040ez 2012 See Exceptions to filing Form 8949 and Schedule D (Form 1040) in chapter 16. How to fill out 1040ez 2012 If you receive nondividend distributions required to be reported as capital gains, you must use Form 1040. How to fill out 1040ez 2012 You cannot use Form 1040EZ if you receive any dividend income. How to fill out 1040ez 2012 Form 1099-DIV. How to fill out 1040ez 2012   If you owned stock on which you received $10 or more in dividends and other distributions, you should receive a Form 1099-DIV. How to fill out 1040ez 2012 Even if you do not receive Form 1099-DIV, you must report all your dividend income. How to fill out 1040ez 2012   See Form 1099-DIV for more information on how to report dividend income. How to fill out 1040ez 2012 Form 1040A or 1040. How to fill out 1040ez 2012    You must complete Schedule B (Form 1040A or 1040), Part II, and attach it to your Form 1040A or 1040, if: Your ordinary dividends (Form 1099-DIV, box 1a) are more than $1,500, or You received, as a nominee, dividends that actually belong to someone else. How to fill out 1040ez 2012 If your ordinary dividends are more than $1,500, you must also complete Schedule B (Form 1040A or 1040), Part III. How to fill out 1040ez 2012   List on Schedule B (Form 1040A or 1040), Part II, line 5, each payer's name and the ordinary dividends you received. How to fill out 1040ez 2012 If your securities are held by a brokerage firm (in “street name”), list the name of the brokerage firm shown on Form 1099-DIV as the payer. How to fill out 1040ez 2012 If your stock is held by a nominee who is the owner of record, and the nominee credited or paid you dividends on the stock, show the name of the nominee and the dividends you received or for which you were credited. How to fill out 1040ez 2012   Enter on line 6 the total of the amounts listed on line 5. How to fill out 1040ez 2012 Also enter this total on line 9a of Form 1040A or 1040. How to fill out 1040ez 2012 Qualified dividends. How to fill out 1040ez 2012   Report qualified dividends (Form 1099-DIV, box 1b) on line 9b of Form 1040 or Form 1040A. How to fill out 1040ez 2012 The amount in box 1b is already included in box 1a. How to fill out 1040ez 2012 Do not add the amount in box 1b to, or substract it from, the amount in box 1a. How to fill out 1040ez 2012   Do not include any of the following on line 9b. How to fill out 1040ez 2012 Qualified dividends you received as a nominee. How to fill out 1040ez 2012 See Nominees under How to Report Dividend Income in chapter 1 of Publication 550. How to fill out 1040ez 2012 Dividends on stock for which you did not meet the holding period. How to fill out 1040ez 2012 See Holding period , earlier under Qualified Dividends. How to fill out 1040ez 2012 Dividends on any share of stock to the extent you are obligated (whether under a short sale or otherwise) to make related payments for positions in substantially similar or related property. How to fill out 1040ez 2012 Payments in lieu of dividends, but only if you know or have reason to know the payments are not qualified dividends. How to fill out 1040ez 2012 Payments shown in Form 1099-DIV, box 1b, from a foreign corporation to the extent you know or have reason to know the payments are not qualified dividends. How to fill out 1040ez 2012   If you have qualified dividends, you must figure your tax by completing the Qualified Dividends and Capital Gain Tax Worksheet in the Form 1040 or 1040A instructions or the Schedule D Tax Worksheet in the Schedule D (Form 1040) instructions, whichever applies. How to fill out 1040ez 2012 Enter qualified dividends on line 2 of the worksheet. How to fill out 1040ez 2012 Investment interest deducted. How to fill out 1040ez 2012   If you claim a deduction for investment interest, you may have to reduce the amount of your qualified dividends that are eligible for the 0%, 15%, or 20% tax rate. How to fill out 1040ez 2012 Reduce it by the qualified dividends you choose to include in investment income when figuring the limit on your investment interest deduction. How to fill out 1040ez 2012 This is done on the Qualified Dividends and Capital Gain Tax Worksheet or the Schedule D Tax Worksheet. How to fill out 1040ez 2012 For more information about the limit on investment interest, see Investment expenses in chapter 23. How to fill out 1040ez 2012 Expenses related to dividend income. How to fill out 1040ez 2012   You may be able to deduct expenses related to dividend income if you itemize your deductions on Schedule A (Form 1040). How to fill out 1040ez 2012 See chapter 28 for general information about deducting expenses of producing income. How to fill out 1040ez 2012 More information. How to fill out 1040ez 2012    For more information about how to report dividend income, see chapter 1 of Publication 550 or the instructions for the form you must file. How to fill out 1040ez 2012 Prev  Up  Next   Home   More Online Publications
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Consumer Protection Offices

City, county, regional, and state consumer offices offer a variety of important services. They might mediate complaints, conduct investigations, prosecute offenders of consumer laws, license and regulate professional service providers, provide educational materials and advocate for consumer rights. To save time, call before sending a written complaint. Ask if the office handles the type of complaint you have and if complaint forms are provided.

State Consumer Protection Offices

Tennessee Department of Commerce and Insurance

Website: Tennessee Department of Commerce and Insurance

Address: Tennessee Department of Commerce and Insurance
Division of Consumer Affairs
500 James Robertson Pkwy., 12th Floor
Nashville, TN 37243-0600

Phone Number: 615-741-4737

Toll-free: 1-800-342-8385 (TN)

Tennessee Office of the Attorney General

Website: Tennessee Office of the Attorney General

Address: Tennessee Office of the Attorney General
Consumer Advocate and Protection Division
PO Box 20207
Nashville, TN 37202-0207

Phone Number: 615-741-1671

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Banking Authorities

The officials listed in this section regulate and supervise state-chartered banks. Many of them handle or refer problems and complaints about other types of financial institutions as well. Some also answer general questions about banking and consumer credit. If you are dealing with a federally chartered bank, check Federal Agencies.

Department of Financial Institutions

Website: Department of Financial Institutions

Address: Department of Financial Institutions
Consumer Resources Division
414 Union St., Suite 1000
Nashville, TN 37219

Phone Number: 615-253-2023

Toll-free: 1-800-778-4215 (TN)

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Insurance Regulators

Each state has its own laws and regulations for each type of insurance. The officials listed in this section enforce these laws. Many of these offices can also provide you with information to help you make informed insurance buying decisions.

Department of Commerce and Insurance

Website: Department of Commerce and Insurance

Address: Department of Commerce and Insurance
Consumer Insurance Services
500 James Robertson Pkwy., 4th Floor
Nashville, TN 37243-0574

Phone Number: 615-741-2218

Toll-free: 1-800-342-4029 (TN)

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Securities Administrators

Each state has its own laws and regulations for securities brokers and securities - including stocks, mutual funds, commodities, real estate, etc. The officials and agencies listed in this section enforce these laws and regulations. Many of these offices can also provide information to help you make informed investment decisions.

Department of Commerce and Insurance

Website: Department of Commerce and Insurance

Address: Department of Commerce and Insurance
Securities Division
500 James Robertson Pkwy.
Nashville, TN 37243-0575

Phone Number: 615-741-2947

Toll-free: 1-800-863-9117 (TN)

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Utility Commissions

State Utility Commissions regulate services and rates for gas, electricity and telephones within your state. In some states, the utility commissions regulate other services such as water, transportation, and the moving of household goods. Many utility commissions handle consumer complaints. Sometimes, if a number of complaints are received about the same utility matter, they will conduct investigations.

Regulatory Authority

Website: Regulatory Authority

Address: Regulatory Authority
Consumer Services Division
460 James Robertson Pkwy.
Nashville, TN 37243-0505

Phone Number: 615-741-2904

Toll-free: 1-800-342-8359 (Consumer Services)

TTY: 1-888-276-0677

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The How To Fill Out 1040ez 2012

How to fill out 1040ez 2012 Publication 3 - Main Content Table of Contents Gross IncomeForeign Source Income Military Spouses Residency Relief Act (MSRRA) Community Property Form W-2 Codes Adjustments to IncomeArmed Forces Reservists Individual Retirement Arrangements Moving Expenses Combat Zone ExclusionCombat Zone Serving in a Combat Zone Amount of Exclusion Alien StatusResident Aliens Nonresident Aliens Dual-Status Aliens Sale of HomePeriod of suspension. How to fill out 1040ez 2012 Qualified official extended duty. How to fill out 1040ez 2012 ForeclosuresLump Sum Portion of Settlement Payment. How to fill out 1040ez 2012 Interest Payment on Lump Sum Portion of Settlement Payment. How to fill out 1040ez 2012 Lost Equity Portion of Settlement Payment. How to fill out 1040ez 2012 The rules that apply to a lost equity payment you received for the foreclosure of a property that was not your main home are different. How to fill out 1040ez 2012 Interest Payment on Lost Equity Portion of Settlement Payment. How to fill out 1040ez 2012 Itemized DeductionsEmployee Business Expenses Repayments CreditsFirst-Time Homebuyer Credit Child Tax Credit Earned Income Credit Credit for Excess Social Security Tax Withheld Forgiveness of Decedent's Tax LiabilityCombat Zone Related Forgiveness Terrorist or Military Action Related Forgiveness Claims for Tax Forgiveness Filing ReturnsSame-Sex Marriage Where To File When To File Signing Returns Extension of DeadlinesService That Qualifies for an Extension of Deadline Length of Extension Actions for Which Deadlines Are Extended Deferral of Payment Maximum Rate of Interest How To Get Tax HelpLow Income Taxpayer Clinics Gross Income Members of the Armed Forces receive many different types of pay and allowances. How to fill out 1040ez 2012 Some are included in gross income while others are excluded from gross income. How to fill out 1040ez 2012 Included items (Table 1) are subject to tax and must be reported on your tax return. How to fill out 1040ez 2012 Excluded items (Table 2) are not subject to tax, but may have to be shown on your tax return. How to fill out 1040ez 2012 For information on the exclusion of pay for service in a combat zone and other tax benefits for combat zone participants, see Combat Zone Exclusion and Extension of Deadlines , later. How to fill out 1040ez 2012 Table 1. How to fill out 1040ez 2012 Included Items These items are included in gross income, unless the pay is for service in a combat zone. How to fill out 1040ez 2012 Basic pay • Active duty   Bonus pay • Career status   • Attendance at a designated service school     • Enlistment  • Officer   • Back wages     • Overseas extension   • CONUS COLA       • Reenlistment   • Drills         • Reserve training         • Training duty   Other pay  • Accrued leave          • High deployment per diem Special • Aviation career incentives      • Personal money allowances paid to pay • Career sea     high-ranking officers   • Diving duty      • Student loan repayment from programs   • Foreign duty (outside the 48 contiguous     such as the Department of Defense   states and the District of Columbia)     Educational Loan Repayment Program   • Foreign language proficiency     when year's service (requirement) is not   • Hardship duty     attributable to a combat zone   • Hostile fire or imminent danger         • Medical and dental officers   Incentive pay  • Submarine   • Nuclear-qualified officers      • Flight   • Optometry      • Hazardous duty   • Pharmacy      • High altitude/Low Opening (HALO)   • Special compensation for assistance with activities of daily living (SCAADL)         • Special duty assignment pay         • Veterinarian         • Voluntary Separation Incentive       Basic allowance for housing (BAH). How to fill out 1040ez 2012   You can still deduct mortgage interest and real estate taxes on your home if you pay these expenses with your BAH. How to fill out 1040ez 2012 Table 2. How to fill out 1040ez 2012 Excluded Items The exclusion for certain items applies whether the item is furnished in kind or is a reimbursement or allowance. How to fill out 1040ez 2012 There is no exclusion for the personal use of a government-provided vehicle. How to fill out 1040ez 2012 Combat  zone pay • Compensation for active service while in a combat zone Note: Limited amount for officers     • Housing and cost-of-living allowances abroad paid by the U. How to fill out 1040ez 2012 S. How to fill out 1040ez 2012 Government or by a foreign government         • OHA (Overseas Housing Allowance)                     Other pay • Defense counseling         • Disability, including payments received for injuries incurred as a direct result of a terrorist or military action         • Group-term life insurance   Moving • Dislocation   • Professional education   allowances • Military base realignment and   • ROTC educational and subsistence     closure benefit    allowances     (the exclusion is limited as   • State bonus pay for service in a     described above)   combat zone     • Move-in housing   • Survivor and retirement protection     • Moving household and   plan premiums     personal items   • Uniform allowances     • Moving trailers or mobile homes   • Uniforms furnished to enlisted     • Storage   personnel     • Temporary lodging and         temporary lodging expenses                 Travel • Annual round trip for dependent Death • Burial services   allowances students allowances • Death gratuity payments to     • Leave between consecutive   eligible survivors     overseas tours   • Travel of dependents to burial site     • Reassignment in a dependent         restricted status Family • Certain educational expenses for     • Transportation for you or your allowances dependents     dependents during ship overhaul   • Emergencies     or inactivation   • Evacuation to a place of safety     • Per diem   • Separation             In-kind military • Dependent-care assistance program Living • BAH (Basic Allowance for Housing)   benefits • Legal assistance allowances • BAS (Basic Allowance for Subsistence)     • Medical/dental care         • Commissary/exchange discounts         • Space-available travel on government aircraft           Death gratuity. How to fill out 1040ez 2012   Any death gratuity paid to a survivor of a member of the Armed Forces is excluded from gross income. How to fill out 1040ez 2012 Differential wage payments. How to fill out 1040ez 2012   Differential wage payments are any payments made by an employer to an individual for a period during which the individual is performing service in the uniformed services while on active duty for a period of more than 30 days and that represent all or a portion of the wages the individual would have received from the employer if the individual was performing services for the employer. How to fill out 1040ez 2012 These amounts are taxable and cannot be excluded as combat pay. How to fill out 1040ez 2012 Military base realignment and closure benefit. How to fill out 1040ez 2012   Payments made under the Homeowners Assistance Program (HAP) generally are excluded from income. How to fill out 1040ez 2012 However, the excludable amount cannot be more than the maximum amount described in subsection (c) of 42 USC 3374 as in effect on November 6, 2009. How to fill out 1040ez 2012 Any part of the payment that is more than this limit is included in gross income. How to fill out 1040ez 2012 For more information about the HAP, see http://hap. How to fill out 1040ez 2012 usace. How to fill out 1040ez 2012 army. How to fill out 1040ez 2012 mil/Overview. How to fill out 1040ez 2012 html. How to fill out 1040ez 2012 Qualified reservist distribution (QRD). How to fill out 1040ez 2012   A QRD is a distribution to an individual of all or part of the individual's balance in a cafeteria plan or health flexible spending arrangement if: The individual was a reservist who was ordered or called to active duty for more than 179 days or for an indefinite period, and The distribution is made no sooner than the date the reservist was ordered or called to active duty and no later than the last day reimbursements could otherwise be made under the arrangement for the plan year which includes the date of the order or the call to duty. How to fill out 1040ez 2012 A QRD is included in gross income and is subject to employment taxes. How to fill out 1040ez 2012 The employer must include the QRD (reduced by after-tax contributions to the health flexible spending arrangement) as wages on Form W-2, Wage and Tax Statement. How to fill out 1040ez 2012 Thrift Savings Plan (TSP) distributions. How to fill out 1040ez 2012   If you participate in the Uniformed Services TSP and receive a distribution from your account, the distribution is generally included in your taxable income. How to fill out 1040ez 2012   If your contributions included tax-exempt combat zone pay, the part of the distribution attributable to those contributions is tax exempt. How to fill out 1040ez 2012 However, the earnings on the tax-exempt portion of the distribution are taxable. How to fill out 1040ez 2012 The TSP will provide a statement showing the taxable and non-taxable portions of the distribution. How to fill out 1040ez 2012 Roth Thrift Savings Plan (TSP) balance. How to fill out 1040ez 2012   You may be able to contribute to a designated Roth Account through the TSP known as the Roth TSP. How to fill out 1040ez 2012 Roth TSP contributions are after-tax contributions, subject to the same contribution limits as the traditional TSP. How to fill out 1040ez 2012 Qualified distributions from a Roth TSP are not included in your income. How to fill out 1040ez 2012 For more details, see Thrift Savings Accounts in Part II of Publication 721, Tax Guide to U. How to fill out 1040ez 2012 S. How to fill out 1040ez 2012 Civil Service Retirement Benefits. How to fill out 1040ez 2012 State bonus payments. How to fill out 1040ez 2012   Bonus payments made by a state (or a political subdivision thereof) to a member or former member of the uniformed services of the United States or to a dependent of such member are considered combat pay (and therefore may not be taxable) if the payments are made only because of the member's service in a combat zone. How to fill out 1040ez 2012 See Combat Zone , later, for a list of designated combat zones. How to fill out 1040ez 2012 Foreign Source Income If you are a U. How to fill out 1040ez 2012 S. How to fill out 1040ez 2012 citizen with income from sources outside the United States (foreign income), you must report all of that income (except for amounts that U. How to fill out 1040ez 2012 S. How to fill out 1040ez 2012 law allows you to exclude) on your tax return. How to fill out 1040ez 2012 This is true whether you reside inside or outside the United States and whether or not you receive a Form W-2 or a Form 1099. How to fill out 1040ez 2012 This applies to earned income (such as wages and tips) as well as unearned income (such as interest, dividends, capital gains, pensions, rents, and royalties). How to fill out 1040ez 2012 Certain taxpayers can exclude income earned in foreign countries. How to fill out 1040ez 2012 For 2013, this exclusion amount can be as much as $97,600. How to fill out 1040ez 2012 However, the foreign earned income exclusion does not apply to the wages and salaries of military and civilian employees of the U. How to fill out 1040ez 2012 S. How to fill out 1040ez 2012 Government. How to fill out 1040ez 2012 Employees of the U. How to fill out 1040ez 2012 S. How to fill out 1040ez 2012 Government include those who work at United States Armed Forces exchanges, commissioned and noncommissioned officers' messes, Armed Forces motion picture services, and similar personnel. How to fill out 1040ez 2012 Other foreign income earned by military personnel or their spouses may be eligible for the foreign earned income exclusion. How to fill out 1040ez 2012 For more information on the exclusion, see Publication 54. How to fill out 1040ez 2012 Residents of American Samoa may be able to exclude income from American Samoa. How to fill out 1040ez 2012 This possession exclusion does not apply to wages and salaries of military and civilian employees of the U. How to fill out 1040ez 2012 S. How to fill out 1040ez 2012 Government. How to fill out 1040ez 2012 If you need information on the possession exclusion, see Publication 570, Tax Guide for Individuals With Income From U. How to fill out 1040ez 2012 S. How to fill out 1040ez 2012 Possessions. How to fill out 1040ez 2012 Military Spouses Residency Relief Act (MSRRA) If you are the civilian spouse of an active duty U. How to fill out 1040ez 2012 S. How to fill out 1040ez 2012 military servicemember and your domicile is the same as the servicemember's, you can choose to keep your prior residence or domicile for tax purposes when you accompany the servicemember spouse, who is relocating under military orders to a new duty station in one of the 50 states, the District of Columbia, or a U. How to fill out 1040ez 2012 S. How to fill out 1040ez 2012 possession. How to fill out 1040ez 2012 See Publication 570 for more information. How to fill out 1040ez 2012 Domicile. How to fill out 1040ez 2012   Your domicile is the permanent legal home you intend to use for an indefinite or unlimited period, and to which, when absent, you intend to return. How to fill out 1040ez 2012 It is not always where you presently live. How to fill out 1040ez 2012 Community Property The pay you earn as a member of the Armed Forces may be subject to community property laws depending on your marital status, your domicile, and the nature of the payment. How to fill out 1040ez 2012 The community property states are Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin. How to fill out 1040ez 2012 Marital status. How to fill out 1040ez 2012   Community property rules apply to married persons whose domicile during the tax year was in a community property state. How to fill out 1040ez 2012 The rules may affect your tax liability if you file separate returns or are divorced during the year. How to fill out 1040ez 2012 Nevada, Washington, and California domestic partners. How to fill out 1040ez 2012   A registered domestic partner in Nevada, Washington, or California generally must report half the combined income of the individual and his or her domestic partner. How to fill out 1040ez 2012 See Form 8958 and Publication 555, Community Property. How to fill out 1040ez 2012 Nature of the payment. How to fill out 1040ez 2012   Active duty military pay is subject to community property laws. How to fill out 1040ez 2012 Armed Forces retired or retainer pay may be subject to community property laws. How to fill out 1040ez 2012   For more information on community property laws, see Publication 555. How to fill out 1040ez 2012 Form W-2 Codes Form W-2 shows your total pay and other compensation and the income tax, social security tax, and Medicare tax that was withheld during the year. How to fill out 1040ez 2012 Form W-2 also shows other amounts that you may find important in box 12. How to fill out 1040ez 2012 The amounts shown in box 12 are generally preceded by a code. How to fill out 1040ez 2012 A list of codes used in box 12 is shown, next. How to fill out 1040ez 2012 Form W-2 Reference Guide for Box 12 Codes A Uncollected social security or RRTA J Nontaxable sick pay T Adoption benefits   tax on tips             K 20% excise tax on excess golden V Income from exercise of B Uncollected Medicare tax on tips   parachute payments   nonstatutory stock option(s)             C Taxable cost of group-term life L Substantiated employee business W Employer contributions (including   insurance over $50,000   expense reimbursements   employee contributions through a           cafeteria plan) to an employee's D Elective deferrals under a section M Uncollected social security or RRTA   health savings account (HSA)   401(k) cash or deferred arrangement   tax on taxable cost of group-term life       plan (including a SIMPLE 401(k)   insurance over $50,000 (former Y Deferrals under a section 409A   arrangement)   employees only)   nonqualified deferred           compensation plan E Elective deferrals under a section N Uncollected Medicare tax on taxable       403(b) salary reduction agreement   cost of group-term life insurance Z Income under section 409A on a       over $50,000 (former employees only)   nonqualified deferred F Elective deferrals under a section       compensation plan   408(k)(6) salary reduction SEP P Excludable moving expense           reimbursements paid directly to AA Designated Roth contributions G Elective deferrals and employer   employee   under a section 401(k) plan   contributions (including nonelective           deferrals) to a section 457(b) Q Nontaxable combat pay BB Designated Roth contributions   deferred compensation plan       under a section 403(b) plan     R Employer contributions to an Archer     H Elective deferrals to a section   MSA DD Cost of employer-sponsored   501(c)(18)(D) tax-exempt       health coverage   organization plan S Employee salary reduction contributions under a section 408(p) SIMPLE  EE  Designated Roth contributions under a governmental section 457(b) plan  Note. How to fill out 1040ez 2012 For more information on these codes, see your Form(s) W-2. How to fill out 1040ez 2012 Adjustments to Income Adjusted gross income is your total income minus certain adjustments. How to fill out 1040ez 2012 The following adjustments are of particular interest to members of the Armed Forces. How to fill out 1040ez 2012 Armed Forces Reservists If you are a member of a reserve component of the Armed Forces and you travel more than 100 miles away from home in connection with your performance of services as a member of the reserves, you can deduct your unreimbursed travel expenses as an adjustment to income on line 24 of Form 1040, U. How to fill out 1040ez 2012 S. How to fill out 1040ez 2012 Individual Income Tax Return, rather than as a miscellaneous itemized deduction. How to fill out 1040ez 2012 Include all unreimbursed expenses from the time you leave home until the time you return home. How to fill out 1040ez 2012 The deduction is limited to the amount the federal government generally reimburses its employees for travel expenses. How to fill out 1040ez 2012 For more information about this limit, see Per Diem and Car Allowances in chapter 6 of Publication 463. How to fill out 1040ez 2012 Member of a reserve component. How to fill out 1040ez 2012   You are a member of a reserve component of the Armed Forces if you are in the Army, Navy, Marine Corps, Air Force, or Coast Guard Reserve, the Army National Guard of the United States, the Air National Guard of the United States, or the Reserve Corps of the Public Health Service. How to fill out 1040ez 2012 How to report. How to fill out 1040ez 2012   If you have reserve-related travel that takes you more than 100 miles from home, you should first complete Form 2106, Employee Business Expenses, or Form 2106-EZ, Unreimbursed Employee Business Expenses. How to fill out 1040ez 2012 Then enter on Form 1040, line 24, the part of your expenses, up to the federal rate, included on Form 2106, line 10, or Form 2106-EZ, line 6, that is for reserve-related travel more than 100 miles from your home. How to fill out 1040ez 2012 Subtract this amount from the total on Form 2106, line 10, or Form 2106-EZ, line 6, and deduct the balance as an itemized deduction on Schedule A (Form 1040), line 21. How to fill out 1040ez 2012 Example. How to fill out 1040ez 2012 Captain Harris, a member of the Army Reserve, traveled to a location 220 miles from his home to perform his work in the reserves in April 2013. How to fill out 1040ez 2012 He incurred $1,549 of unreimbursed expenses consisting of $249 for mileage (440 miles × 56. How to fill out 1040ez 2012 5 cents per mile), $300 for meals, and $1,000 for lodging. How to fill out 1040ez 2012 He also had other deductible mileage expenses of $110 for several trips to a location 20 miles from his home. How to fill out 1040ez 2012 Only 50% of his meal expenses are deductible. How to fill out 1040ez 2012 He shows his total deductible travel expenses of $1,509 ($249 + $150 (50% of $300) + $1,000 + $110) on Form 2106, line 10. How to fill out 1040ez 2012 He enters the $1,399 ($249 + $150 + $1,000) for travel over 100 miles from home on Form 1040, line 24. How to fill out 1040ez 2012 He then subtracts that $1,399 from the amount on Form 2106, $1,509, and enters $110 on Schedule A (Form 1040), line 21. How to fill out 1040ez 2012 Individual Retirement Arrangements Generally, you can deduct the lesser of the contributions to your traditional individual retirement arrangement (IRA) for the year or the general limit (or spousal IRA limit, if applicable). How to fill out 1040ez 2012 However, if you or your spouse was covered by an employer-maintained retirement plan at any time during the year for which contributions were made, you may not be able to deduct all of the contributions. How to fill out 1040ez 2012 The Form W-2 you or your spouse receives from an employer has a box used to indicate whether you were covered for the year. How to fill out 1040ez 2012 The “Retirement plan” box should have a mark in it if you were covered. How to fill out 1040ez 2012 For purposes of a deduction for contributions to a traditional IRA, Armed Forces members (including reservists on active duty for more than 90 days during the year) are considered covered by an employer-maintained retirement plan. How to fill out 1040ez 2012 Individuals serving in the U. How to fill out 1040ez 2012 S. How to fill out 1040ez 2012 Armed Forces or in support of the U. How to fill out 1040ez 2012 S. How to fill out 1040ez 2012 Armed Forces in designated combat zones have additional time to make a qualified retirement contribution to an IRA. How to fill out 1040ez 2012 For more information on this extension of deadline provision, see Extension of Deadlines , later. How to fill out 1040ez 2012 For more information on IRAs, see Publication 590. How to fill out 1040ez 2012 Combat Pay For IRA purposes, your compensation includes nontaxable combat pay. How to fill out 1040ez 2012 This means that even though you do not have to include the combat pay in your gross income, you do include it in your compensation when figuring the limits on contributions and deductions of contributions to IRAs. How to fill out 1040ez 2012 Qualified Reservist Distributions A qualified reservist distribution is defined below. How to fill out 1040ez 2012 It is not subject to the 10% additional tax on early distributions from certain retirement plans. How to fill out 1040ez 2012 Definition. How to fill out 1040ez 2012   A distribution you receive is a qualified reservist distribution if the following requirements are met. How to fill out 1040ez 2012 You were ordered or called to active duty after September 11, 2001. How to fill out 1040ez 2012 You were ordered or called to active duty for a period of more than 179 days or for an indefinite period because you are a member of a reserve component (see Member of a reserve component , earlier, under Armed Forces Reservists. How to fill out 1040ez 2012 ) The distribution is from an IRA or from amounts attributable to elective deferrals under a section 401(k) or 403(b) plan or a similar arrangement. How to fill out 1040ez 2012 The distribution was made no earlier than the date of the order or call to active duty and no later than the close of the active duty period. How to fill out 1040ez 2012 Qualified Reservist Repayments You may be able to contribute (repay) to an IRA amounts equal to any qualified reservist distributions (defined earlier) you received. How to fill out 1040ez 2012 You can make these repayment contributions even if they would cause your total contributions to the IRA to be more than the general limit on contributions. How to fill out 1040ez 2012 You make these repayment contributions to an IRA, even if you received the qualified reservist distribution from a section 401(k) or 403(b) plan or a similar arrangement. How to fill out 1040ez 2012 Limit. How to fill out 1040ez 2012   Your qualified reservist repayments cannot be more than your qualified reservist distributions. How to fill out 1040ez 2012 When repayment contributions can be made. How to fill out 1040ez 2012   You cannot make these repayment contributions after the date that is 2 years after your active duty period ends. How to fill out 1040ez 2012 No deduction. How to fill out 1040ez 2012   You cannot deduct qualified reservist repayments. How to fill out 1040ez 2012 Figuring your IRA deduction. How to fill out 1040ez 2012   The repayment of qualified reservist distributions does not affect the amount you can deduct as an IRA contribution. How to fill out 1040ez 2012 Reporting the repayment. How to fill out 1040ez 2012   If you repay a qualified reservist distribution, include the amount of the repayment with nondeductible contributions on line 1 of Form 8606, Nondeductible IRAs. How to fill out 1040ez 2012 Moving Expenses To deduct moving expenses, you generally must meet certain time and distance tests. How to fill out 1040ez 2012 However, if you are a member of the Armed Forces on active duty and you move because of a permanent change of station, you do not have to meet these tests. How to fill out 1040ez 2012 You can deduct your unreimbursed moving expenses on Form 3903. How to fill out 1040ez 2012 Permanent change of station. How to fill out 1040ez 2012   A permanent change of station includes: A move from your home to your first post of active duty, A move from one permanent post of duty to another, and A move from your last post of duty to your home or to a nearer point in the United States. How to fill out 1040ez 2012 The move must occur within 1 year of ending your active duty or within the period allowed under the Joint Federal Travel Regulations. How to fill out 1040ez 2012 Spouse and dependents. How to fill out 1040ez 2012   If you are the spouse or dependent of a member of the Armed Forces who deserts, is imprisoned, or dies, a permanent change of station for you includes a move to: The member's place of enlistment or induction, Your, or the member's, home of record, or A nearer point in the United States. How to fill out 1040ez 2012   If the military moves you to or from a different location than the member, the moves are treated as a single move to your new main job location. How to fill out 1040ez 2012 Services or reimbursements provided by the government. How to fill out 1040ez 2012   Do not include in your income the value of moving and storage services provided by the government because of a permanent change of station. How to fill out 1040ez 2012 Similarly, do not include in income amounts received as a dislocation allowance, temporary lodging expense, temporary lodging allowance, or move-in housing allowance. How to fill out 1040ez 2012   Generally, if the total reimbursements or allowances that you receive from the government because of the move are more than your actual moving expenses, the excess is included in your wages on Form W-2. How to fill out 1040ez 2012 However, if any reimbursements or allowances (other than dislocation, temporary lodging, temporary lodging expense, or move-in housing allowances) exceed the cost of moving and the excess is not included in your wages on Form W-2, the excess still must be included in gross income on Form 1040, line 7. How to fill out 1040ez 2012   Use Form 3903 to deduct qualified expenses that exceed your reimbursements and allowances (including dislocation, temporary lodging, temporary lodging expense, or move-in housing allowances that are excluded from gross income). How to fill out 1040ez 2012   If you must relocate and your spouse and dependents move to or from a different location, do not include in income reimbursements, allowances, or the value of moving and storage services provided by the government to move you and your spouse and dependents to and from the separate locations. How to fill out 1040ez 2012   Do not deduct any expenses for moving services that were provided by the government. How to fill out 1040ez 2012 Also, do not deduct any expenses that were reimbursed by an allowance you did not include in income. How to fill out 1040ez 2012 Deductible Moving Expenses If you move because of a permanent change of station, you can deduct the reasonable unreimbursed expenses of moving you and members of your household. How to fill out 1040ez 2012 You can deduct expenses (if not reimbursed or furnished in kind) for: Moving household goods and personal effects, and Travel. How to fill out 1040ez 2012 Moving household goods and personal effects. How to fill out 1040ez 2012   You can deduct the expenses of moving your household goods and personal effects, including expenses for hauling a trailer, packing, crating, in-transit storage, and insurance. How to fill out 1040ez 2012 You cannot deduct expenses for moving furniture or other goods you bought on the way from your old home to your new home. How to fill out 1040ez 2012 Storing and insuring household goods and personal effects. How to fill out 1040ez 2012   You can include only the cost of storing and insuring your household goods and personal effects within any period of 30 consecutive days after the day these goods and effects are moved from your former home and before they are delivered to your new home. How to fill out 1040ez 2012 Travel. How to fill out 1040ez 2012   You can deduct the expenses of traveling (including lodging but not meals) from your old home to your new home, including car expenses and air fare. How to fill out 1040ez 2012 You can deduct as car expenses either: Your actual out-of-pocket expenses such as gas and oil, or The standard mileage rate of 24 cents a mile. How to fill out 1040ez 2012   You can add parking fees and tolls to the amount claimed under either method. How to fill out 1040ez 2012 You cannot deduct any expenses for meals. How to fill out 1040ez 2012 You cannot deduct the cost of unnecessary side trips or lavish and extravagant lodging. How to fill out 1040ez 2012 Member of your household. How to fill out 1040ez 2012   A member of your household is anyone who has both your former home and your new home as his or her main home. How to fill out 1040ez 2012 It does not include a tenant or employee unless you can claim that person as a dependent. How to fill out 1040ez 2012 Foreign Moves A foreign move is a move from the United States or its possessions to a foreign country or from one foreign country to another foreign country. How to fill out 1040ez 2012 A move from a foreign country to the United States or its possessions is not a foreign move. How to fill out 1040ez 2012 For a foreign move, the deductible moving expenses described earlier are expanded to include the reasonable expenses of: Moving your household goods and personal effects to and from storage, and Storing these items for part or all of the time the new job location remains your main job location. How to fill out 1040ez 2012 The new job location must be outside the United States. How to fill out 1040ez 2012 Reporting Moving Expenses Figure moving expense deductions on Form 3903. How to fill out 1040ez 2012 Carry the deduction from Form 3903 to Form 1040, line 26. How to fill out 1040ez 2012 For more information, see Publication 521 and Form 3903. How to fill out 1040ez 2012 Combat Zone Exclusion If you are a member of the U. How to fill out 1040ez 2012 S. How to fill out 1040ez 2012 Armed Forces who serves in a combat zone (defined later), you can exclude certain pay from your income. How to fill out 1040ez 2012 This pay is generally referred to as “combat pay. How to fill out 1040ez 2012 ” You do not actually need to show the exclusion on your tax return because income that qualifies for the combat zone exclusion is not included in the wages reported on your Form W-2. How to fill out 1040ez 2012 (See Form W-2 , later. How to fill out 1040ez 2012 ) The month for which you receive the pay must be a month in which you either served in a combat zone or were hospitalized as a result of wounds, disease, or injury incurred while serving in the combat zone. How to fill out 1040ez 2012 You do not have to receive the excluded pay while you are in a combat zone, are hospitalized, or in the same year you served in a combat zone. How to fill out 1040ez 2012 If you are an enlisted member, warrant officer, or commissioned warrant officer, you can exclude the following amounts from your income. How to fill out 1040ez 2012 (Other officer personnel are discussed under Amount of Exclusion , later. How to fill out 1040ez 2012 ) Active duty pay earned in any month you served in a combat zone. How to fill out 1040ez 2012 Imminent danger/hostile fire pay. How to fill out 1040ez 2012 A reenlistment bonus if the voluntary extension or reenlistment occurs in a month you served in a combat zone. How to fill out 1040ez 2012 Pay for accrued leave earned in any month you served in a combat zone. How to fill out 1040ez 2012 The Department of Defense must determine that the unused leave was earned during that period. How to fill out 1040ez 2012 Pay received for duties as a member of the Armed Forces in clubs, messes, post and station theaters, and other nonappropriated fund activities. How to fill out 1040ez 2012 The pay must be earned in a month you served in a combat zone. How to fill out 1040ez 2012 Awards for suggestions, inventions, or scientific achievements you are entitled to because of a submission you made in a month you served in a combat zone. How to fill out 1040ez 2012 Student loan repayments. How to fill out 1040ez 2012 If the entire year of service required to earn the repayment was performed in a combat zone, the entire repayment made because of that year of service is excluded. How to fill out 1040ez 2012 If only part of that year of service was performed in a combat zone, only part of the repayment qualifies for exclusion. How to fill out 1040ez 2012 For example, if you served in a combat zone for 5 months, 5/12 of your repayment qualifies for exclusion. How to fill out 1040ez 2012 Retirement pay and pensions do not qualify for the combat zone exclusion. How to fill out 1040ez 2012 Partial (month) service. How to fill out 1040ez 2012   If you serve in a combat zone for any part of one or more days during a particular month, you are entitled to an exclusion for that entire month. How to fill out 1040ez 2012 Form W-2. How to fill out 1040ez 2012   The wages shown in box 1 of your 2013 Form W-2 should not include military pay excluded from your income under the combat zone exclusion provisions. How to fill out 1040ez 2012 If it does, you will need to get a corrected Form W-2 from your finance office. How to fill out 1040ez 2012   You cannot exclude as combat pay any wages shown in box 1 of Form W-2. How to fill out 1040ez 2012 Combat Zone A combat zone is any area the President of the United States designates by Executive Order as an area in which the U. How to fill out 1040ez 2012 S. How to fill out 1040ez 2012 Armed Forces are engaging or have engaged in combat. How to fill out 1040ez 2012 An area usually becomes a combat zone and ceases to be a combat zone on the dates the President designates by Executive Order. How to fill out 1040ez 2012 Afghanistan area. How to fill out 1040ez 2012   By Executive Order No. How to fill out 1040ez 2012 13239, Afghanistan (and airspace above) was designated as a combat zone beginning September 19, 2001. How to fill out 1040ez 2012 On December 14, 2001, the following countries were certified by the Department of Defense for combat zone tax benefits due to their direct support of military operations in the Afghanistan combat zone. How to fill out 1040ez 2012 Djibouti. How to fill out 1040ez 2012 Jordan. How to fill out 1040ez 2012 Kyrgyzstan. How to fill out 1040ez 2012 Pakistan. How to fill out 1040ez 2012 Somalia. How to fill out 1040ez 2012 Syria. How to fill out 1040ez 2012 Tajikistan. How to fill out 1040ez 2012 Uzbekistan. How to fill out 1040ez 2012 Yemen. How to fill out 1040ez 2012 The Philippines. How to fill out 1040ez 2012  Note. How to fill out 1040ez 2012 For the Philippines only, the personnel must be deployed in conjunction with Operation Enduring Freedom supporting military operations in the Afghanistan combat zone. How to fill out 1040ez 2012 The Kosovo area. How to fill out 1040ez 2012   By Executive Order No. How to fill out 1040ez 2012 13119, the following locations (including airspace above) were designated as a combat zone beginning March 24, 1999. How to fill out 1040ez 2012 Federal Republic of Yugoslavia (Serbia/Montenegro). How to fill out 1040ez 2012 Albania. How to fill out 1040ez 2012 Kosovo. How to fill out 1040ez 2012 The Adriatic Sea. How to fill out 1040ez 2012 The Ionian Sea—north of the 39th parallel. How to fill out 1040ez 2012 Note. How to fill out 1040ez 2012 The combat zone designation for Montenegro and Kosovo (previously a province within Serbia) under Executive Order 13119 remains in force even though Montenegro and Kosovo became independent nations since EO 13119 was signed. How to fill out 1040ez 2012 Arabian peninsula. How to fill out 1040ez 2012   By Executive Order No. How to fill out 1040ez 2012 12744, the following locations (and airspace above) were designated as a combat zone beginning January 17, 1991. How to fill out 1040ez 2012 The Persian Gulf. How to fill out 1040ez 2012 The Red Sea. How to fill out 1040ez 2012 The Gulf of Oman. How to fill out 1040ez 2012 The part of the Arabian Sea that is north of 10 degrees north latitude and west of 68 degrees east longitude. How to fill out 1040ez 2012 The Gulf of Aden. How to fill out 1040ez 2012 The total land areas of Iraq, Kuwait, Saudi Arabia, Oman, Bahrain, Qatar, and the United Arab Emirates. How to fill out 1040ez 2012 Jordan which is in direct support of the Arabian Peninsula. How to fill out 1040ez 2012 Serving in a Combat Zone You are considered to be serving in a combat zone if you are either assigned on official temporary duty to a combat zone or you qualify for hostile fire/imminent danger pay while in a combat zone. How to fill out 1040ez 2012 Service in a combat zone includes any periods you are absent from duty because of sickness, wounds, or leave. How to fill out 1040ez 2012 If, as a result of serving in a combat zone, a person becomes a prisoner of war or is missing in action, that person is considered to be serving in the combat zone so long as he or she keeps that status for military pay purposes. How to fill out 1040ez 2012 Hospitalized While Serving in a Combat Zone If you are hospitalized while serving in a combat zone, the wound, disease, or injury causing the hospitalization will be presumed to have been incurred while serving in the combat zone unless there is clear evidence to the contrary. How to fill out 1040ez 2012 Example. How to fill out 1040ez 2012 You are hospitalized for a specific disease in a combat zone where you have been serving for 3 weeks, and the disease for which you are hospitalized has an incubation period of 2 to 4 weeks. How to fill out 1040ez 2012 The disease is presumed to have been incurred while you were serving in the combat zone. How to fill out 1040ez 2012 On the other hand, if the incubation period of the disease is 1 year, the disease would not have been incurred while you were serving in the combat zone. How to fill out 1040ez 2012 Hospitalized After Leaving a Combat Zone In some cases, the wound, disease, or injury may have been incurred while you were serving in the combat zone, even though you were not hospitalized until after you left. How to fill out 1040ez 2012 In that case, you can exclude military pay earned while you are hospitalized as a result of the wound, disease, or injury. How to fill out 1040ez 2012 Example. How to fill out 1040ez 2012 You were hospitalized for a specific disease 3 weeks after you left the combat zone. How to fill out 1040ez 2012 The incubation period of the disease is from 2 to 4 weeks. How to fill out 1040ez 2012 The disease is presumed to have been incurred while serving in the combat zone. How to fill out 1040ez 2012 Nonqualifying Presence in Combat Zone None of the following types of military service qualify as service in a combat zone. How to fill out 1040ez 2012 Presence in a combat zone while on leave from a duty station located outside the combat zone. How to fill out 1040ez 2012 Passage over or through a combat zone during a trip between two points that are outside a combat zone. How to fill out 1040ez 2012 Presence in a combat zone solely for your personal convenience. How to fill out 1040ez 2012 Service Outside Combat Zone Considered Service in Combat Zone Military service outside a combat zone is considered to be performed in a combat zone if: The Department of Defense designates that the service is in direct support of military operations in the combat zone, and The service qualifies you for special military pay for duty subject to hostile fire or imminent danger. How to fill out 1040ez 2012 Military pay received for this service will qualify for the combat zone exclusion if all of the requirements (other than service in a combat zone) are met and the pay is verifiable by reference to military pay records. How to fill out 1040ez 2012 Amount of Exclusion If you are an enlisted member, warrant officer, or commissioned warrant officer and you serve in a combat zone during any part of a month, you can exclude all of your military pay for that month. How to fill out 1040ez 2012 It should not be included in the wages reported on your Form W-2. How to fill out 1040ez 2012 You also can exclude military pay earned while you are hospitalized as a result of wounds, disease, or injury incurred in the combat zone. How to fill out 1040ez 2012 If you are hospitalized, you cannot exclude any military pay received for any month of service that begins more than 2 years after the end of combat activities in the combat zone. How to fill out 1040ez 2012 Your hospitalization does not have to be in the combat zone. How to fill out 1040ez 2012 If you are a commissioned officer (other than a commissioned warrant officer), you can exclude your pay according to the rules just discussed. How to fill out 1040ez 2012 However, the amount of your exclusion is limited to the highest rate of enlisted pay (plus imminent danger/hostile fire pay you received) for each month during any part of which you served in a combat zone or were hospitalized as a result of your service there. How to fill out 1040ez 2012 Alien Status For tax purposes, an alien is an individual who is not a U. How to fill out 1040ez 2012 S. How to fill out 1040ez 2012 citizen. How to fill out 1040ez 2012 An alien is in one of three categories: resident, nonresident, or dual-status. How to fill out 1040ez 2012 Placement in the correct category is crucial in determining what income to report and what forms to file. How to fill out 1040ez 2012 Under peacetime enlistment rules, you generally cannot enlist in the Armed Forces unless you are a citizen or have been legally admitted to the United States for permanent residence. How to fill out 1040ez 2012 If you are an alien enlistee in the Armed Forces, you are probably a resident alien. How to fill out 1040ez 2012 If, under an income tax treaty, you are considered a resident of a foreign country, see your base legal officer. How to fill out 1040ez 2012 Other aliens who are in the United States only because of military assignments and who have a home outside the United States are nonresident aliens. How to fill out 1040ez 2012 Guam and Puerto Rico have special rules. How to fill out 1040ez 2012 Residents of those areas should contact their taxing authority with their questions. How to fill out 1040ez 2012 Most members of the Armed Forces are U. How to fill out 1040ez 2012 S. How to fill out 1040ez 2012 citizens or resident aliens. How to fill out 1040ez 2012 However, if you have questions about your alien status or the alien status of your dependents or spouse, you should read the information in the following paragraphs and see Publication 519. How to fill out 1040ez 2012 Resident Aliens You are considered a resident alien of the United States for tax purposes if you meet either the “green card test” or the “substantial presence test” for the calendar year (January 1–December 31). How to fill out 1040ez 2012 If you meet the substantial presence test for 2014, you did not meet either the green card test or the substantial presence test for 2012 or 2013, and you did not choose to be treated as a resident for part of 2012, you may be able to choose to be treated as a U. How to fill out 1040ez 2012 S. How to fill out 1040ez 2012 resident for part of 2013. How to fill out 1040ez 2012 See First-Year Choice in Publication 519. How to fill out 1040ez 2012 These tests are explained in Publication 519. How to fill out 1040ez 2012 Generally, resident aliens are taxed on their worldwide income and file the same tax forms as U. How to fill out 1040ez 2012 S. How to fill out 1040ez 2012 citizens. How to fill out 1040ez 2012 Treating nonresident alien spouse as resident alien. How to fill out 1040ez 2012   A nonresident alien spouse can be treated as a resident alien if all the following conditions are met. How to fill out 1040ez 2012 One spouse is a U. How to fill out 1040ez 2012 S. How to fill out 1040ez 2012 citizen or resident alien at the end of the tax year. How to fill out 1040ez 2012 That spouse is married to the nonresident alien at the end of the tax year. How to fill out 1040ez 2012 You both choose to treat the nonresident alien spouse as a resident alien. How to fill out 1040ez 2012 Making the choice. How to fill out 1040ez 2012   Both you and your spouse must sign a statement and attach it to your joint return for the first tax year for which the choice applies. How to fill out 1040ez 2012 Include in the statement: A declaration that one spouse was a nonresident alien and the other was a U. How to fill out 1040ez 2012 S. How to fill out 1040ez 2012 citizen or resident alien on the last day of the year, A declaration that both spouses choose to be treated as U. How to fill out 1040ez 2012 S. How to fill out 1040ez 2012 residents for the entire tax year, and The name, address, and taxpayer identification number (social security number or individual taxpayer identification number) of each spouse. How to fill out 1040ez 2012 If the nonresident alien spouse is not eligible to get a social security number, he or she should file Form W-7, Application for IRS Individual Taxpayer Identification Number. How to fill out 1040ez 2012    Once you make this choice, the nonresident alien spouse's worldwide income is subject to U. How to fill out 1040ez 2012 S. How to fill out 1040ez 2012 tax. How to fill out 1040ez 2012 If the nonresident alien spouse has substantial foreign income, there may be no advantage to making this choice. How to fill out 1040ez 2012 Ending the choice. How to fill out 1040ez 2012   Once you make this choice, it applies to all later years unless one of the following situations occurs. How to fill out 1040ez 2012 You or your spouse revokes the choice. How to fill out 1040ez 2012 You or your spouse dies. How to fill out 1040ez 2012 You and your spouse become legally separated under a decree of divorce or separate maintenance. How to fill out 1040ez 2012 The Internal Revenue Service ends the choice because you or your spouse kept inadequate records. How to fill out 1040ez 2012 For specific details on these situations, see Publication 519. How to fill out 1040ez 2012   If the choice is ended for any of these reasons, neither spouse can make the choice for any later year. How to fill out 1040ez 2012 Choice not made. How to fill out 1040ez 2012   If you and your nonresident alien spouse do not make this choice: You cannot file a joint return. How to fill out 1040ez 2012 You can file as married filing separately, or head of household if you qualify. How to fill out 1040ez 2012 You can claim an exemption for your nonresident alien spouse if he or she has no gross income for U. How to fill out 1040ez 2012 S. How to fill out 1040ez 2012 tax purposes and is not another taxpayer's dependent. How to fill out 1040ez 2012 The nonresident alien spouse generally does not have to file a federal income tax return if he or she had no income from sources in the United States. How to fill out 1040ez 2012 If a return has to be filed, see the next discussion. How to fill out 1040ez 2012 The nonresident alien spouse is not eligible for the earned income credit if he or she has to file a return. How to fill out 1040ez 2012 Nonresident Aliens If you are an alien who does not meet the requirements discussed earlier to be a resident alien, you are a nonresident alien. How to fill out 1040ez 2012 If you are required to file a federal tax return, you must file either Form 1040NR, U. How to fill out 1040ez 2012 S. How to fill out 1040ez 2012 Nonresident Alien Income Tax Return, or Form 1040NR-EZ, U. How to fill out 1040ez 2012 S. How to fill out 1040ez 2012 Income Tax Return for Certain Nonresident Aliens With No Dependents. How to fill out 1040ez 2012 See the form instructions for information on who must file and filing status. How to fill out 1040ez 2012 If you are a nonresident alien, you generally must pay tax on income from sources in the United States. How to fill out 1040ez 2012 Your income from conducting a trade or business in the United States is taxed at graduated U. How to fill out 1040ez 2012 S. How to fill out 1040ez 2012 tax rates. How to fill out 1040ez 2012 Other income from U. How to fill out 1040ez 2012 S. How to fill out 1040ez 2012 sources is taxed at a flat 30% (or lower treaty) rate. How to fill out 1040ez 2012 For example, dividends from a U. How to fill out 1040ez 2012 S. How to fill out 1040ez 2012 corporation paid to a nonresident alien generally are subject to a 30% (or lower treaty) rate. How to fill out 1040ez 2012 Dual-Status Aliens You can be both a nonresident and resident alien during the same tax year. How to fill out 1040ez 2012 This usually occurs in the year you arrive in or depart from the United States. How to fill out 1040ez 2012 If you are a dual-status alien, you are taxed on income from all sources for the part of the year you are a resident alien. How to fill out 1040ez 2012 Generally, for the part of the year you are a nonresident alien, you are taxed only on income from sources in the United States. How to fill out 1040ez 2012 Sale of Home You may not have to pay tax on all or part of the gain from the sale of your main home. How to fill out 1040ez 2012 Usually, your main home is the one you live in most of the time. How to fill out 1040ez 2012 It can be a: House, Houseboat, Mobile home, Cooperative apartment, or Condominium. How to fill out 1040ez 2012 You generally can exclude up to $250,000 of gain ($500,000, in most cases, if married filing a joint return) realized on the sale or exchange of a main home in 2013. How to fill out 1040ez 2012 The exclusion is allowed each time you sell or exchange a main home, but generally not more than once every 2 years. How to fill out 1040ez 2012 To be eligible, during the 5-year period ending on the date of the sale, you must have owned the home for at least 2 years (the ownership test), and lived in the home as your main home for at least 2 years (the use test). How to fill out 1040ez 2012 Exception to ownership and use tests. How to fill out 1040ez 2012   You can exclude gain, but the maximum amount of gain you can exclude will be reduced if you do not meet the ownership and use tests due to a move to a new permanent duty station. How to fill out 1040ez 2012 5-year test period suspended. How to fill out 1040ez 2012   You can choose to have the 5-year test period for ownership and use suspended during any period you or your spouse serve on qualified official extended duty as a member of the Armed Forces. How to fill out 1040ez 2012 This means that you may be able to meet the 2-year use test even if, because of your service, you did not actually live in your home for at least the required 2 years during the 5-year period ending on the date of sale. How to fill out 1040ez 2012 Example. How to fill out 1040ez 2012 David bought and moved into a home in 2005. How to fill out 1040ez 2012 He lived in it as his main home for 2½ years. How to fill out 1040ez 2012 For the next 6 years, he did not live in it because he was on qualified official extended duty with the Army. How to fill out 1040ez 2012 He then sold the home at a gain in 2013. How to fill out 1040ez 2012 To meet the use test, David chooses to suspend the 5-year test period for the 6 years he was on qualifying official extended duty. How to fill out 1040ez 2012 This means he can disregard those 6 years. How to fill out 1040ez 2012 Therefore, David's 5-year test period consists of the 5 years before he went on qualifying official extended duty. How to fill out 1040ez 2012 He meets the ownership and use tests because he owned and lived in the home for 2½ years during this test period. How to fill out 1040ez 2012 Period of suspension. How to fill out 1040ez 2012   The period of suspension cannot last more than 10 years. How to fill out 1040ez 2012 You cannot suspend the 5-year period for more than one property at a time. How to fill out 1040ez 2012 You can revoke your choice to suspend the 5-year period at any time. How to fill out 1040ez 2012 Qualified official extended duty. How to fill out 1040ez 2012   You are on qualified official extended duty if you serve on extended duty either: At a duty station at least 50 miles from your main home, or While you live in Government quarters under Government orders. How to fill out 1040ez 2012   You are on extended duty when you are called or ordered to active duty for a period of more than 90 days or for an indefinite period. How to fill out 1040ez 2012 Property used for rental or business. How to fill out 1040ez 2012   You may be able to exclude your gain from the sale of a home that you have used as a rental property or for business. How to fill out 1040ez 2012 However, you must meet the ownership and use tests discussed in Publication 523. How to fill out 1040ez 2012 Nonqualified use. How to fill out 1040ez 2012   If the sale of your main home results in a gain that is allocated to one or more period(s) of nonqualified use, you cannot exclude that gain from your income. How to fill out 1040ez 2012   Nonqualified use means any period after 2008 when neither you nor your spouse (or your former spouse) used the property as a main home, with certain exceptions. How to fill out 1040ez 2012 For example, a period of nonqualified use does not include any period (not to exceed a total of 10 years) during which you or your spouse is serving on qualified official extended duty. How to fill out 1040ez 2012 Loss. How to fill out 1040ez 2012   You cannot deduct a loss from the sale of your main home. How to fill out 1040ez 2012 More information. How to fill out 1040ez 2012   For more information, see Publication 523. How to fill out 1040ez 2012 Foreclosures There may be tax consequences as a result of compensation payments for foreclosures. How to fill out 1040ez 2012 Payments made for violations of the Service Members Civil Relief Act (SCRA). How to fill out 1040ez 2012   All service members who received a settlement payment reported on a Form 1099 may need to report the amount on their tax return. How to fill out 1040ez 2012 Generally, you must include settlement payments in income. How to fill out 1040ez 2012 However, the tax treatment of settlement payments will depend on the facts and circumstances. How to fill out 1040ez 2012 Lump Sum Portion of Settlement Payment. How to fill out 1040ez 2012    Generally, you must include the lump sum payment in gross income. How to fill out 1040ez 2012 In limited circumstances you may be able to exclude part or all of the lump sum payment from gross income. How to fill out 1040ez 2012 For example, you may qualify to exclude part or all of the payment from gross income if you can show that the payment was made to reimburse specific nondeductible expenses (such as living expenses) you incurred because of the SCRA violation. How to fill out 1040ez 2012 Interest Payment on Lump Sum Portion of Settlement Payment. How to fill out 1040ez 2012    You must include any interest on the lump sum portion of your settlement payment in your income. How to fill out 1040ez 2012 Lost Equity Portion of Settlement Payment. How to fill out 1040ez 2012    If you lost your main home in foreclosure, you should treat the lost equity payment as an additional amount you received on the foreclosure of the home. How to fill out 1040ez 2012 You will have a gain on the foreclosure only if the sum of the lost equity payment and the value of the main home at foreclosure is more than what you paid for the home. How to fill out 1040ez 2012 In many cases, this gain may be excluded from income. How to fill out 1040ez 2012 For more information on the rules for excluding all or part of any gain from the sale (including a foreclosure) of a main home, see Pub. How to fill out 1040ez 2012 523, Selling Your Home. How to fill out 1040ez 2012 The rules that apply to a lost equity payment you received for the foreclosure of a property that was not your main home are different. How to fill out 1040ez 2012    To find rules for reporting gain or loss on the foreclosure of property that was not your main home, see Pub. How to fill out 1040ez 2012 544, Sales and Other Dispositions of Assets. How to fill out 1040ez 2012 Interest Payment on Lost Equity Portion of Settlement Payment. How to fill out 1040ez 2012    You must include any interest on the lost equity portion of your settlement payment in your income. How to fill out 1040ez 2012 Itemized Deductions To figure your taxable income, you must subtract either your standard deduction or your itemized deductions from adjusted gross income. How to fill out 1040ez 2012 For information on the standard deduction, see Publication 501. How to fill out 1040ez 2012 Itemized deductions are figured on Schedule A (Form 1040). How to fill out 1040ez 2012 This chapter discusses miscellaneous itemized deductions of particular interest to members of the Armed Forces. How to fill out 1040ez 2012 For information on other itemized deductions, see the publications listed below. How to fill out 1040ez 2012 Publication 502, Medical and Dental Expenses. How to fill out 1040ez 2012 Publication 526, Charitable Contributions. How to fill out 1040ez 2012 Publication 547, Casualties, Disasters, and Thefts. How to fill out 1040ez 2012 Publication 550, Investment Income and Expenses. How to fill out 1040ez 2012 You must reduce the total of most miscellaneous itemized deductions by 2% of your adjusted gross income. How to fill out 1040ez 2012 For information on deductions that are not subject to the 2% limit, see Publication 529. How to fill out 1040ez 2012 Employee Business Expenses Deductible employee business expenses generally are miscellaneous itemized deductions subject to the 2% limit. How to fill out 1040ez 2012 Certain employee business expenses are deductible as adjustments to income. How to fill out 1040ez 2012 For information on many employee business expenses, see Publication 463. How to fill out 1040ez 2012 Generally, you must file Form 2106, Employee Business Expenses, or Form 2106-EZ, Unreimbursed Employee Business Expenses, to claim these expenses. How to fill out 1040ez 2012 You do not have to file Form 2106 or Form 2106-EZ if you are claiming only unreimbursed expenses for uniforms, professional society dues, and work-related educational expenses (all discussed later). How to fill out 1040ez 2012 You can deduct these expenses directly on Schedule A (Form 1040). How to fill out 1040ez 2012 Reimbursement. How to fill out 1040ez 2012   Generally, to receive advances, reimbursements, or other allowances from the government, you must adequately account for your expenses and return any excess reimbursement. How to fill out 1040ez 2012 Your reimbursed expenses are not deductible. How to fill out 1040ez 2012   If your expenses are more than your reimbursement, the excess expenses are deductible (subject to the 2% limit) if you can prove them. How to fill out 1040ez 2012 You must file Form 2106 to report these expenses. How to fill out 1040ez 2012   You can use the shorter Form 2106-EZ if you meet all three of the following conditions. How to fill out 1040ez 2012 You are an employee deducting expenses related to your job. How to fill out 1040ez 2012 You were not reimbursed by your employer for your expenses. How to fill out 1040ez 2012 (Amounts included in box 1 of Form W-2 are not considered reimbursements. How to fill out 1040ez 2012 ) If you claim car expenses, you use the standard mileage rate. How to fill out 1040ez 2012    For 2013, the standard mileage rate is 56. How to fill out 1040ez 2012 5 cents a mile for all business miles driven. How to fill out 1040ez 2012 This rate is adjusted periodically. How to fill out 1040ez 2012 Travel Expenses You can deduct unreimbursed travel expenses only if they are incurred while you are traveling away from home. How to fill out 1040ez 2012 If you are a member of the U. How to fill out 1040ez 2012 S. How to fill out 1040ez 2012 Armed Forces on a permanent duty assignment overseas, you are not traveling away from home. How to fill out 1040ez 2012 You cannot deduct your expenses for meals and lodging while at your permanent duty station. How to fill out 1040ez 2012 You cannot deduct these expenses even if you have to maintain a home in the United States for your family members who are not allowed to accompany you overseas. How to fill out 1040ez 2012 A naval officer assigned to permanent duty aboard a ship that has regular eating and living facilities has a home aboard ship for travel expense purposes. How to fill out 1040ez 2012 To be deductible, your travel expenses must be work related. How to fill out 1040ez 2012 You cannot deduct any expenses for personal travel, such as visits to family while on furlough, leave, or liberty. How to fill out 1040ez 2012 Away from home. How to fill out 1040ez 2012   Home is your permanent duty station (which can be a ship or base), regardless of where you or your family live. How to fill out 1040ez 2012 You are away from home if you are away from your permanent duty station substantially longer than an ordinary day's work and you need to get sleep or rest to meet the demands of your work while away from home. How to fill out 1040ez 2012   Examples of deductible travel expenses include: Expenses for business-related meals (generally limited to 50% of your unreimbursed cost), lodging, taxicabs, business telephone calls, tips, laundry, and dry cleaning while you are away from home on temporary duty or temporary additional duty, and Expenses of carrying out official business while on “No Cost” orders. How to fill out 1040ez 2012    You cannot deduct any expenses for travel away from home if the temporary assignment in a single location is realistically expected to last (and does in fact last) for more than 1 year. How to fill out 1040ez 2012 This rule may not apply if you are participating in a federal crime investigation or prosecution. How to fill out 1040ez 2012 For more information, see Publication 463 and the Form 2106 instructions. How to fill out 1040ez 2012 Transportation Expenses These expenses include the ordinary and necessary costs of: Getting from one workplace to another when you are not away from home, Going to a business meeting away from your regular workplace, and Getting from your home to a temporary workplace when you have a regular place of work. How to fill out 1040ez 2012 These expenses include the costs of transportation by air, bus, rail, taxi, and driving and maintaining your car. How to fill out 1040ez 2012 Transportation expenses incurred while traveling away from home are included with your travel expenses, discussed earlier. How to fill out 1040ez 2012 However, if you use your car while traveling away from home overnight, see the rules in chapter 4 of Publication 463 to figure your car expense deduction. How to fill out 1040ez 2012 If you must go from one workplace to another while on duty (for example, as a courier or to attend meetings) without being away from home, your unreimbursed transportation expenses are deductible. How to fill out 1040ez 2012 However, the expenses of getting to and from your regular place of work (commuting) are not deductible. How to fill out 1040ez 2012 Temporary work location. How to fill out 1040ez 2012   If you have one or more regular places of business away from your home and you commute to a temporary work location in the same trade or business, you can deduct the expenses of the daily round-trip transportation between your home and the temporary location. How to fill out 1040ez 2012   Generally, if your employment at a work location is realistically expected to last (and does in fact last) for 1 year or less, the employment is temporary. How to fill out 1040ez 2012   If your employment at a work location is realistically expected to last for more than 1 year or if there is no realistic expectation that the employment will last for 1 year or less, the employment is not temporary, regardless of whether it actually lasts for more than 1 year. How to fill out 1040ez 2012 If employment at a work location initially is realistically expected to last for 1 year or less, but at some later date the employment is realistically expected to last more than 1 year, that employment will be treated as temporary (unless there are facts and circumstances that would indicate otherwise) until your expectation changes. How to fill out 1040ez 2012    If you do not have a regular place of business, but you ordinarily work in the metropolitan area where you live, you can deduct daily transportation expenses between your home and a temporary work site outside your metropolitan area. How to fill out 1040ez 2012 However, you cannot deduct daily transportation costs between your home and temporary work sites within your metropolitan area. How to fill out 1040ez 2012 These are nondeductible commuting costs. How to fill out 1040ez 2012 Armed Forces reservists. How to fill out 1040ez 2012   A meeting of an Armed Forces reserve unit is a second place of business if the meeting is held on a day on which you work at your regular job. How to fill out 1040ez 2012 You can deduct the expense of getting from one workplace to the other. How to fill out 1040ez 2012 You usually cannot deduct the expense if the reserve meeting is held on a day on which you do not work at your regular job. How to fill out 1040ez 2012 In this case, your transportation generally is a nondeductible commuting expense. How to fill out 1040ez 2012 However, you can deduct your transportation expenses if the location of the meeting is temporary and you have one or more regular places of work. How to fill out 1040ez 2012   If you ordinarily work in a particular metropolitan area but not at any specific location and the reserve meeting is held at a temporary location outside that metropolitan area, you can deduct your transportation expenses. How to fill out 1040ez 2012 If you travel away from home overnight to attend a guard or reserve meeting, you can deduct your travel expenses. How to fill out 1040ez 2012 See Armed Forces Reservists under Adjustments to Income, earlier. How to fill out 1040ez 2012 Uniforms You usually cannot deduct the expenses for uniform cost and upkeep. How to fill out 1040ez 2012 Generally, you must wear uniforms when on duty and you are allowed to wear them when off duty. How to fill out 1040ez 2012 If military regulations prohibit you from wearing certain uniforms when off duty, you can deduct the cost and upkeep of the uniforms, but you must reduce your expenses by any allowance or reimbursement you receive. How to fill out 1040ez 2012 Unreimbursed expenses for the cost and upkeep of the following articles are deductible. How to fill out 1040ez 2012 Military battle dress uniforms and utility uniforms that you cannot wear when off duty. How to fill out 1040ez 2012 Articles not replacing regular clothing, including insignia of rank, corps devices, epaulets, aiguillettes, and swords. How to fill out 1040ez 2012 Reservists' uniforms if you can wear the uniform only while performing duties as a reservist. How to fill out 1040ez 2012 Professional Dues You can deduct unreimbursed dues paid to professional societies directly related to your military position. How to fill out 1040ez 2012 However, you cannot deduct amounts paid to an officers' club or a noncommissioned officers' club. How to fill out 1040ez 2012 Example. How to fill out 1040ez 2012 Lieutenant Margaret Allen, an electrical engineer at Maxwell Air Force Base, can deduct professional dues paid to the American Society of Electrical Engineers. How to fill out 1040ez 2012 Educational Expenses You can deduct the unreimbursed costs of qualifying work-related education. How to fill out 1040ez 2012 This is education that meets at least one of the following two tests. How to fill out 1040ez 2012 The education is required by your employer or the law to keep your present salary, status, or job. How to fill out 1040ez 2012 The required education must serve a bona fide business purpose of your employer. How to fill out 1040ez 2012 The education maintains or improves skills needed in your present work. How to fill out 1040ez 2012 However, even if the education meets one or both of the above tests, it is not qualifying education if it: Is needed to meet the minimum educational requirements of your present trade or business, or Is part of a program of study that will qualify you for a new trade or business. How to fill out 1040ez 2012 You can deduct the expenses for qualifying work-related education even if the education could lead to a degree. How to fill out 1040ez 2012 Example 1. How to fill out 1040ez 2012 Lieutenant Colonel Mason has a degree in financial management and is in charge of base finances at her post of duty. How to fill out 1040ez 2012 She took an advanced finance course. How to fill out 1040ez 2012 She already meets the minimum qualifications for her job. How to fill out 1040ez 2012 By taking the course, she is improving skills in her current position. How to fill out 1040ez 2012 The course does not qualify her for a new trade or business. How to fill out 1040ez 2012 She can deduct educational expenses that are more than the educational allowance she received. How to fill out 1040ez 2012 Example 2. How to fill out 1040ez 2012 Major Williams worked in the military base legal office as a legal intern. How to fill out 1040ez 2012 He was placed in excess leave status by his employer to attend law school. How to fill out 1040ez 2012 He paid all his educational expenses and was not reimbursed. How to fill out 1040ez 2012 After obtaining his law degree, he passed the state bar exam and worked as a judge advocate. How to fill out 1040ez 2012 His educational expenses are not deductible because the law degree qualified him for a new trade or business, even though the education maintained and improved his skills in his work. How to fill out 1040ez 2012 Travel to obtain education. How to fill out 1040ez 2012   If your work-related education qualifies, you can deduct the costs of travel, including meals (subject to the 50% limit), and lodging, if the main purpose of the trip is to obtain the education. How to fill out 1040ez 2012   You cannot deduct the cost of travel that is itself a form of education, even if it is directly related to your duties in your work or business. How to fill out 1040ez 2012 Transportation for education. How to fill out 1040ez 2012   If your work-related education qualifies for a deduction, you can deduct the costs of transportation to obtain that education. How to fill out 1040ez 2012 However, you cannot deduct the cost of services provided in kind, such as base-provided transportation to or from class. How to fill out 1040ez 2012 Transportation expenses include the actual costs of bus, subway, cab, or other fares, as well as the costs of using your car. How to fill out 1040ez 2012   If you need more information on educational expenses, see Publication 970. How to fill out 1040ez 2012 Repayments If you had to repay to your employer an amount that you included in your income in an earlier year, you may be able to deduct the repaid amount from your income for the year in which you repaid it. How to fill out 1040ez 2012 Repayment of $3,000 or less. How to fill out 1040ez 2012   If the amount you repaid was $3,000 or less, deduct it from your income in the year you repaid it. How to fill out 1040ez 2012 If you reported it as wages, deduct it as a miscellaneous itemized deduction on Schedule A (Form 1040), line 23. How to fill out 1040ez 2012 Repayment over $3,000. How to fill out 1040ez 2012   If the amount you repaid was more than $3,000, see Repayments in Publication 525. How to fill out 1040ez 2012 Credits After you have figured your taxable income and tax liability, you can determine if you are entitled to any tax credits. How to fill out 1040ez 2012 This publication discusses the first-time homebuyer credit, child tax credit, earned income credit, and credit for excess social security tax withheld. How to fill out 1040ez 2012 For information on other credits, see your tax form instructions. How to fill out 1040ez 2012 First-Time Homebuyer Credit The first-time homebuyer credit is not available for homes purchased after 2011. How to fill out 1040ez 2012 In 2011, this credit had already expired for most taxpayers, however, certain members of the uniformed services and Foreign Service and certain employees of the intelligence community could claim the credit for homes purchased in 2011. How to fill out 1040ez 2012 If you bought the home (and claimed the credit) after 2008, you generally must repay the credit if you dispose of the home or the home stops being your main home within the 36-month period beginning on the purchase date. How to fill out 1040ez 2012 If the home continues to be your main home for at least 36 months beginning on the purchase date, you do not have to repay any of the credit. How to fill out 1040ez 2012 If you bought your home in 2008, you generally must repay the credit over a 15-year period in 15 equal installments. How to fill out 1040ez 2012 For more information, see Form 5405, Repayment of the First-Time Homebuyer Credit, and its instructions. How to fill out 1040ez 2012 Child Tax Credit The child tax credit is a credit that may reduce your tax by as much as $1,000 for each of your qualifying children. How to fill out 1040ez 2012 The additional child tax credit is a credit you may be able to take if you are not able to claim the full amount of the child tax credit. How to fill out 1040ez 2012 The child tax credit is not the same as the credit for child and dependent care expenses. How to fill out 1040ez 2012 See Publication 503 for information on the credit for child and dependent care expenses. How to fill out 1040ez 2012 Qualifying Child A qualifying child for purposes of the child tax credit is a child who: Is your son, daughter, stepchild, foster child, brother, sister, stepbrother, stepsister, half brother, half sister, or a descendant of any of them (for example, your grandchild, niece, or nephew), Was under age 17 at the end of 2013, Did not provide over half of his or her own support for 2013, Lived with you for more than half of 2013 (see Exceptions to time lived with you, later), Is claimed as a dependent on your return, Does not file a joint return for the year (or files it only as a claim for refund), and Was a U. How to fill out 1040ez 2012 S. How to fill out 1040ez 2012 citizen, a U. How to fill out 1040ez 2012 S. How to fill out 1040ez 2012 national, or a U. How to fill out 1040ez 2012 S. How to fill out 1040ez 2012 resident alien. How to fill out 1040ez 2012 If the child was adopted, see Adopted child . How to fill out 1040ez 2012 For each qualifying child you must check the box on Form 1040 or Form 1040A, line 6c, column (4). How to fill out 1040ez 2012 Exceptions to time lived with you. How to fill out 1040ez 2012   A child is considered to have lived with you for all of 2013 if the child was born or died in 2013 and your home was this child's home for the entire time he or she was alive. How to fill out 1040ez 2012 Temporary absences by you or the child for special circumstances, such as school, vacation, business, medical care, military service, or detention in a juvenile facility, count as time the child lived with you. How to fill out 1040ez 2012   There are also exceptions for kidnapped children and children of divorced or separated parents. How to fill out 1040ez 2012 For details, see Publication 501. How to fill out 1040ez 2012 Qualifying child of more than one person. How to fill out 1040ez 2012   A special rule applies if your qualifying child is the qualifying child of more than one person. How to fill out 1040ez 2012 For details, see Publication 501. How to fill out 1040ez 2012 Adopted child. How to fill out 1040ez 2012   An adopted child is always treated as your own child. How to fill out 1040ez 2012 An adopted child includes a child lawfully placed with you for legal adoption. How to fill out 1040ez 2012   If you are a U. How to fill out 1040ez 2012 S. How to fill out 1040ez 2012 citizen or U. How to fill out 1040ez 2012 S. How to fill out 1040ez 2012 national and your adopted child lived with you as a member of your household all year, that child meets condition (7) above to be a qualifying child for the child tax credit. How to fill out 1040ez 2012 Amount of Credit The maximum amount you can claim for the credit is $1,000 for each qualifying child. How to fill out 1040ez 2012 Limits on the credit. How to fill out 1040ez 2012   You must reduce your child tax credit if either (1) or (2), below, applies. How to fill out 1040ez 2012 The amount on Form 1040, line 46, or Form 1040A, line 28, is less than the credit. How to fill out 1040ez 2012 If the amount is zero, you cannot take this credit because there is no tax to reduce. How to fill out 1040ez 2012 However, you may be able to take the additional child tax credit. How to fill out 1040ez 2012 See Additional Child Tax Credit , later. How to fill out 1040ez 2012 Your modified adjusted gross income (AGI) is more than the amount shown below for your filing status. How to fill out 1040ez 2012 Married filing jointly — $110,000. How to fill out 1040ez 2012 Single, head of household,  or qualifying widow(er) — $75,000. How to fill out 1040ez 2012 Married filing separately — $55,000. How to fill out 1040ez 2012 Modified AGI. How to fill out 1040ez 2012   For purposes of the child tax credit, your modified AGI is the amount on Form 1040, line 38, or Form 1040A, line 22, plus the following amounts that may apply to you. How to fill out 1040ez 2012 Any amount excluded from income because of the exclusion of income from Puerto Rico. How to fill out 1040ez 2012 Any amount on line 45 or line 50 of Form 2555, Foreign Earned Income. How to fill out 1040ez 2012 Any amount on line 18 of Form 2555-EZ, Foreign Earned Income Exclusion. How to fill out 1040ez 2012 Any amount on line 15 of Form 4563, Exclusion of Income for Bona Fide Residents of American Samoa. How to fill out 1040ez 2012   If you do not have any of the above, your modified AGI is the same as your AGI. How to fill out 1040ez 2012 Claiming the Credit To claim the child tax credit, you must file Form 1040 or Form 1040A. How to fill out 1040ez 2012 For more information on the child tax credit, see the instructions for Form 1040 or Form 1040A. How to fill out 1040ez 2012 Also attach Schedule 8812, Child Tax Credit, if required. How to fill out 1040ez 2012 Additional Child Tax Credit This credit is for certain individuals who get less than the full amount of the child tax credit. How to fill out 1040ez 2012 The additional child tax credit may give you a refund even if you do not owe any tax. How to fill out 1040ez 2012 For more information, see the instructions for Form 1040 or Form 1040A, and Schedule 8812. How to fill out 1040ez 2012 Earned Income Credit The earned income credit (EIC) is a cr