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Hr Block Online Taxes

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Hr Block Online Taxes

Hr block online taxes 37. Hr block online taxes   Other Credits Table of Contents What's New Introduction Useful Items - You may want to see: Nonrefundable CreditsAdoption Credit Alternative Motor Vehicle Credit Alternative Fuel Vehicle Refueling Property Credit Credit to Holders of Tax Credit Bonds Foreign Tax Credit Mortgage Interest Credit Nonrefundable Credit for Prior Year Minimum Tax Plug-in Electric Drive Motor Vehicle Credit Residential Energy Credits Retirement Savings Contributions Credit (Saver's Credit) Refundable CreditsCredit for Tax on Undistributed Capital Gain Health Coverage Tax Credit Credit for Excess Social Security Tax or Railroad Retirement Tax Withheld What's New Adoption credit. Hr block online taxes  The maximum adoption credit is $12,970 for 2013. Hr block online taxes See Adoption Credit . Hr block online taxes Plug-in electric vehicle credit. Hr block online taxes  This credit has expired. Hr block online taxes Credit for prior year minimum tax. Hr block online taxes  The refundable portion of the credit for prior year minimum tax has expired. Hr block online taxes Excess withholding of social security and railroad retirement tax. Hr block online taxes  Social security tax and tier 1 railroad retirement (RRTA) tax were both withheld during 2013 at a rate of 6. Hr block online taxes 2% of wages up to $113,700. Hr block online taxes If you worked for more than one employer and had too much social security or RRTA tax withheld during 2013, you may be entitled to a credit for the excess withholding. Hr block online taxes See Credit for Excess Social Security Tax or Railroad Retirement Tax Withheld . Hr block online taxes Introduction This chapter discusses the following nonrefundable credits. Hr block online taxes Adoption credit. Hr block online taxes Alternative motor vehicle credit. Hr block online taxes Alternative fuel vehicle refueling property credit. Hr block online taxes Credit to holders of tax credit bonds. Hr block online taxes Foreign tax credit. Hr block online taxes Mortgage interest credit. Hr block online taxes Nonrefundable credit for prior year minimum tax. Hr block online taxes Plug-in electric drive motor vehicle credit. Hr block online taxes Residential energy credits. Hr block online taxes Retirement savings contributions credit. Hr block online taxes This chapter also discusses the following refundable credits. Hr block online taxes Credit for tax on undistributed capital gain. Hr block online taxes Health coverage tax credit. Hr block online taxes Credit for excess social security tax or railroad retirement tax withheld. Hr block online taxes Several other credits are discussed in other chapters in this publication. Hr block online taxes Child and dependent care credit (chapter 32). Hr block online taxes Credit for the elderly or the disabled (chapter 33). Hr block online taxes Child tax credit (chapter 34). Hr block online taxes Education credits (chapter 35). Hr block online taxes Earned income credit (chapter 36). Hr block online taxes Nonrefundable credits. Hr block online taxes   The first part of this chapter, Nonrefundable Credits , covers ten credits that you subtract from your tax. Hr block online taxes These credits may reduce your tax to zero. Hr block online taxes If these credits are more than your tax, the excess is not refunded to you. Hr block online taxes Refundable credits. Hr block online taxes   The second part of this chapter, Refundable Credits , covers three credits that are treated as payments and are refundable to you. Hr block online taxes These credits are added to the federal income tax withheld and any estimated tax payments you made. Hr block online taxes If this total is more than your total tax, the excess will be refunded to you. Hr block online taxes Useful Items - You may want to see: Publication 502 Medical and Dental Expenses 514 Foreign Tax Credit for  Individuals 530 Tax Information for Homeowners 590 Individual Retirement Arrangements (IRAs) Form (and Instructions) 1116 Foreign Tax Credit 2439 Notice to Shareholder of Undistributed Long-Term Capital Gains 5695 Residential Energy Credits 8396 Mortgage Interest Credit 8801 Credit For Prior Year Minimum Tax — Individuals, Estates, and Trusts 8828 Recapture of Federal Mortgage Subsidy 8839 Qualified Adoption Expenses 8880 Credit for Qualified Retirement Savings Contributions 8885 Health Coverage Tax Credit 8910 Alternative Motor Vehicle Credit 8911 Alternative Fuel Vehicle Refueling Property Credit 8912 Credit to Holders of Tax Credit Bonds 8936 Qualified Plug-in Electric Drive Motor Vehicle Credit Nonrefundable Credits The credits discussed in this part of the chapter can reduce your tax. Hr block online taxes However, if the total of these credits is more than your tax, the excess is not refunded to you. Hr block online taxes Adoption Credit You may be able to take a tax credit of up to $12,970 for qualified expenses paid to adopt an eligible child. Hr block online taxes The credit may be allowed for the adoption of a child with special needs even if you do not have any qualified expenses. Hr block online taxes If your modified adjusted gross income (AGI) is more than $194,580, your credit is reduced. Hr block online taxes If your modified AGI is $234,580 or more, you cannot take the credit. Hr block online taxes Qualified adoption expenses. Hr block online taxes   Qualified adoption expenses are reasonable and necessary expenses directly related to, and whose principal purpose is for, the legal adoption of an eligible child. Hr block online taxes These expenses include: Adoption fees, Court costs, Attorney fees, Travel expenses (including amounts spent for meals and lodging) while away from home, and Re-adoption expenses to adopt a foreign child. Hr block online taxes Nonqualified expenses. Hr block online taxes   Qualified adoption expenses do not include expenses: That violate state or federal law, For carrying out any surrogate parenting arrangement, For the adoption of your spouse's child, For which you received funds under any federal, state, or local program, Allowed as a credit or deduction under any other federal income tax rule, or Paid or reimbursed by your employer or any other person or organization. Hr block online taxes Eligible child. Hr block online taxes   The term “eligible child” means any individual: Under 18 years old, or Physically or mentally incapable of caring for himself or herself. Hr block online taxes Child with special needs. Hr block online taxes   An eligible child is a child with special needs if all three of the following apply. Hr block online taxes The child was a citizen or resident of the United States (including U. Hr block online taxes S. Hr block online taxes possessions) at the time the adoption process began. Hr block online taxes A state (including the District of Columbia) has determined that the child cannot or should not be returned to his or her parents' home. Hr block online taxes The state has determined that the child will not be adopted unless assistance is provided to the adoptive parents. Hr block online taxes Factors used by states to make this determination include: The child's ethnic background, The child's age, Whether the child is a member of a minority or sibling group, and Whether the child has a medical condition or a physical, mental, or emotional handicap. Hr block online taxes When to take the credit. Hr block online taxes   Generally, until the adoption becomes final, you take the credit in the year after your qualified expenses were paid or incurred. Hr block online taxes If the adoption becomes final, you take the credit in the year your expenses were paid or incurred. Hr block online taxes See the Instructions for Form 8839 for more specific information on when to take the credit. Hr block online taxes Foreign child. Hr block online taxes   If the child is not a U. Hr block online taxes S. Hr block online taxes citizen or resident at the time the adoption process began, you cannot take the credit unless the adoption becomes final. Hr block online taxes You treat all adoption expenses paid or incurred in years before the adoption becomes final as paid or incurred in the year it becomes final. Hr block online taxes How to take the credit. Hr block online taxes   Figure your 2013 nonrefundable credit and any carryforward to 2014 on Form 8839 and attach it to your Form 1040. Hr block online taxes Include the credit in your total for Form 1040, line 53. Hr block online taxes Check box c and enter “8839” on the line next to that box. Hr block online taxes More information. Hr block online taxes   For more information, see the Instructions for Form 8839. Hr block online taxes Alternative Motor Vehicle Credit You may be able to take this credit if you place a qualified fuel cell vehicle in service in 2013. Hr block online taxes Amount of credit. Hr block online taxes   Generally, you can rely on the manufacturer's certification to the IRS that a specific make, model, and model year vehicle qualifies for the credit and the amount of the credit for which it qualifies. Hr block online taxes In the case of a foreign manufacturer, you generally can rely on its domestic distributor's certification to the IRS. Hr block online taxes   Ordinarily the amount of the credit is 100% of the manufacturer's (or domestic distributor's) certification to the IRS of the maximum credit allowable. Hr block online taxes How to take the credit. Hr block online taxes   To take the credit, you must complete Form 8910 and attach it to your Form 1040. Hr block online taxes Include the credit in your total for Form 1040, line 53. Hr block online taxes Check box c and enter “8910” on the line next to that box. Hr block online taxes More information. Hr block online taxes   For more information on the credit, see the Instructions for Form 8910. Hr block online taxes Alternative Fuel Vehicle Refueling Property Credit You may be able to take a credit if you place qualified alternative fuel vehicle refueling property in service in 2013. Hr block online taxes Qualified alternative fuel vehicle refueling property. Hr block online taxes   Qualified alternative fuel vehicle refueling property is any property (other than a building or its structural components) used for either of the following. Hr block online taxes To store or dispense alternative fuel into the fuel tank of a motor vehicle propelled by the fuel, but only if the storage or dispensing is at the point where the fuel is delivered into that tank. Hr block online taxes To recharge an electric vehicle, but only if the recharging property is located at the point where the vehicle is recharged. Hr block online taxes   The following are alternative fuels. Hr block online taxes Any fuel at least 85% of the volume of which consists of one or more of the following: ethanol, natural gas, compressed natural gas, liquefied natural gas, liquefied petroleum gas, or hydrogen. Hr block online taxes Any mixture which consists of two or more of the following: biodiesel, diesel fuel, or kerosene, and at least 20% of the volume of which consists of biodiesel determined without regard to any kerosene. Hr block online taxes Electricity. Hr block online taxes Amount of the credit. Hr block online taxes   For personal use property, the credit is generally the smaller of 30% of the property's cost or $1,000. Hr block online taxes For business use property, the credit is generally the smaller of 30% of the property's cost or $30,000. Hr block online taxes How to take the credit. Hr block online taxes   To take the credit, you must complete Form 8911 and attach it to your Form 1040. Hr block online taxes Include the credit in your total for Form 1040, line 53. Hr block online taxes Check box c and enter “8911” on the line next to that box. Hr block online taxes More information. Hr block online taxes   For more information on the credit, see the Form 8911 instructions. Hr block online taxes Credit to Holders of Tax Credit Bonds Tax credit bonds are bonds in which the holder receives a tax credit in lieu of some or all of the interest on the bond. Hr block online taxes You may be able to take a credit if you are a holder of one of the following bonds. Hr block online taxes Clean renewable energy bonds (issued before 2010). Hr block online taxes New clean renewable energy bonds. Hr block online taxes Qualified energy conservation bonds. Hr block online taxes Qualified school construction bonds. Hr block online taxes Qualified zone academy bonds. Hr block online taxes Build America bonds. Hr block online taxes In some instances, an issuer may elect to receive a credit for interest paid on the bond. Hr block online taxes If the issuer makes this election, you cannot also claim a credit. Hr block online taxes Interest income. Hr block online taxes   The amount of any tax credit allowed (figured before applying tax liability limits) must be included as interest income on your tax return. Hr block online taxes How to take the credit. Hr block online taxes   Complete Form 8912 and attach it to your Form 1040. Hr block online taxes Include the credit in your total for Form 1040, line 53. Hr block online taxes Check box c and enter “8912” on the line next to that box. Hr block online taxes More information. Hr block online taxes   For more information, see the Instructions for Form 8912. Hr block online taxes Foreign Tax Credit You generally can choose to take income taxes you paid or accrued during the year to a foreign country or U. Hr block online taxes S. Hr block online taxes possession as a credit against your U. Hr block online taxes S. Hr block online taxes income tax. Hr block online taxes Or, you can deduct them as an itemized deduction (see chapter 22). Hr block online taxes You cannot take a credit (or deduction) for foreign income taxes paid on income that you exclude from U. Hr block online taxes S. Hr block online taxes tax under any of the following. Hr block online taxes Foreign earned income exclusion. Hr block online taxes Foreign housing exclusion. Hr block online taxes Income from Puerto Rico exempt from U. Hr block online taxes S. Hr block online taxes tax. Hr block online taxes Possession exclusion. Hr block online taxes Limit on the credit. Hr block online taxes   Unless you can elect not to file Form 1116 (see Exception , later), your foreign tax credit cannot be more than your U. Hr block online taxes S. Hr block online taxes tax liability (Form 1040, line 44), multiplied by a fraction. Hr block online taxes The numerator of the fraction is your taxable income from sources outside the United States. Hr block online taxes The denominator is your total taxable income from U. Hr block online taxes S. Hr block online taxes and foreign sources. Hr block online taxes See Publication 514 for more information. Hr block online taxes How to take the credit. Hr block online taxes   Complete Form 1116 and attach it to your Form 1040. Hr block online taxes Enter the credit on Form 1040, line 47. Hr block online taxes Exception. Hr block online taxes   You do not have to complete Form 1116 to take the credit if all of the following apply. Hr block online taxes All of your gross foreign source income was from interest and dividends and all of that income and the foreign tax paid on it were reported to you on Form 1099-INT, Form 1099-DIV, or Schedule K-1 (or substitute statement). Hr block online taxes If you had dividend income from shares of stock, you held those shares for at least 16 days. Hr block online taxes You are not filing Form 4563 or excluding income from sources within Puerto Rico. Hr block online taxes The total of your foreign taxes was not more than $300 (not more than $600 if married filing jointly). Hr block online taxes All of your foreign taxes were: Legally owed and not eligible for a refund, and Paid to countries that are recognized by the United States and do not support terrorism. Hr block online taxes More information. Hr block online taxes   For more information on the credit and these requirements, see the Instructions for Form 1116. Hr block online taxes Mortgage Interest Credit The mortgage interest credit is intended to help lower-income individuals own a home. Hr block online taxes If you qualify, you can take the credit each year for part of the home mortgage interest you pay. Hr block online taxes Who qualifies. Hr block online taxes   You may be eligible for the credit if you were issued a qualified mortgage credit certificate (MCC) from your state or local government. Hr block online taxes Generally, an MCC is issued only in connection with a new mortgage for the purchase of your main home. Hr block online taxes Amount of credit. Hr block online taxes   Figure your credit on Form 8396. Hr block online taxes If your mortgage loan amount is equal to (or smaller than) the certified indebtedness (loan) amount shown on your MCC, enter on Form 8396, line 1, all the interest you paid on your mortgage during the year. Hr block online taxes   If your mortgage loan amount is larger than the certified indebtedness amount shown on your MCC, you can figure the credit on only part of the interest you paid. Hr block online taxes To find the amount to enter on line 1, multiply the total interest you paid during the year on your mortgage by the following fraction. Hr block online taxes      Certified indebtedness amount on your MCC     Original amount of your mortgage   Limit based on credit rate. Hr block online taxes   If the certificate credit rate is more than 20%, the credit you are allowed cannot be more than $2,000. Hr block online taxes If two or more persons (other than a married couple filing a joint return) hold an interest in the home to which the MCC relates, this $2,000 limit must be divided based on the interest held by each person. Hr block online taxes See Publication 530 for more information. Hr block online taxes Carryforward. Hr block online taxes   Your credit (after applying the limit based on the credit rate) is also subject to a limit based on your tax that is figured using Form 8396. Hr block online taxes If your allowable credit is reduced because of this tax liability limit, you can carry forward the unused portion of the credit to the next 3 years or until used, whichever comes first. Hr block online taxes   If you are subject to the $2,000 limit because your certificate credit rate is more than 20%, you cannot carry forward any amount more than $2,000 (or your share of the $2,000 if you must divide the credit). Hr block online taxes How to take the credit. Hr block online taxes    Figure your 2013 credit and any carryforward to 2014 on Form 8396, and attach it to your Form 1040. Hr block online taxes Be sure to include any credit carryforward from 2010, 2011, and 2012. Hr block online taxes   Include the credit in your total for Form 1040, line 53. Hr block online taxes Check box c and enter “8396” on the line next to that box. Hr block online taxes Reduced home mortgage interest deduction. Hr block online taxes   If you itemize your deductions on Schedule A (Form 1040), you must reduce your home mortgage interest deduction by the amount of the mortgage interest credit shown on Form 8396, line 3. Hr block online taxes You must do this even if part of that amount is to be carried forward to 2014. Hr block online taxes For more information about the home mortgage interest deduction, see chapter 23. Hr block online taxes Recapture of federal mortgage subsidy. Hr block online taxes   If you received an MCC with your mortgage loan, you may have to recapture (pay back) all or part of the benefit you received from that program. Hr block online taxes The recapture may be required if you sell or dispose of your home at a gain during the first 9 years after the date you closed your mortgage loan. Hr block online taxes See the Instructions for Form 8828 and chapter 15 for more information. Hr block online taxes More information. Hr block online taxes   For more information on the credit, see the Form 8396 instructions. Hr block online taxes Nonrefundable Credit for Prior Year Minimum Tax The tax laws give special treatment to some kinds of income and allow special deductions and credits for some kinds of expenses. Hr block online taxes If you benefit from these laws, you may have to pay at least a minimum amount of tax in addition to any other tax on these items. Hr block online taxes This is called the alternative minimum tax. Hr block online taxes The special treatment of some items of income and expenses only allows you to postpone paying tax until a later year. Hr block online taxes If in prior years you paid alternative minimum tax because of these tax postponement items, you may be able to take a credit for prior year minimum tax against your current year's regular tax. Hr block online taxes You may be able to take a credit against your regular tax if for 2012 you had: An alternative minimum tax liability and adjustments or preferences other than exclusion items, A minimum tax credit that you are carrying forward to 2013, or An unallowed qualified electric vehicle credit. Hr block online taxes How to take the credit. Hr block online taxes    Figure your 2013 nonrefundable credit (if any), and any carryforward to 2014 on Form 8801, and attach it to your Form 1040. Hr block online taxes Include the credit in your total for Form 1040, line 53, and check box b. Hr block online taxes You can carry forward any unused credit for prior year minimum tax to later years until it is completely used. Hr block online taxes More information. Hr block online taxes   For more information on the credit, see the Instructions for Form 8801. Hr block online taxes Plug-in Electric Drive Motor Vehicle Credit You may be able to take this credit if you placed in service for business or personal use a qualified plug-in electric drive motor vehicle or a qualified two- or three-wheeled plug-in electric vehicle in 2013 and you meet some other requirements. Hr block online taxes Qualified plug-in electric drive motor vehicle. Hr block online taxes   This is a new vehicle with at least four wheels that: Is propelled to a significant extent by an electric motor that draws electricity from a battery that has a capacity of not less than 4 kilowatt hours and is capable of being recharged from an external source of electricity, and Has a gross vehicle weight of less than 14,000 pounds. Hr block online taxes Qualified two- or three-wheeled plug-in electric vehicle. Hr block online taxes   This is a new vehicle with two or three wheels that: Is capable of achieving a speed of 45 miles per hour or greater, Is propelled to a significant extent by an electric motor that draws electricity from a battery that has a capacity of not less than 2. Hr block online taxes 5 kilowatt hours and is capable of being recharged from an external source of electricity, and Has a gross vehicle weight of less than 14,000 pounds. Hr block online taxes Certification and other requirements. Hr block online taxes   Generally, you can rely on the manufacturer's (or, in the case of a foreign manufacturer, its domestic distributor's) certification to the IRS that a specific make, model, and model year vehicle qualifies for the credit and, if applicable, the amount of the credit for which it qualifies. Hr block online taxes However, if the IRS publishes an announcement that the certification for any specific make, model, and model year vehicle has been withdrawn, you cannot rely on the certification for such a vehicle purchased after the date of publication of the withdrawal announcement. Hr block online taxes   The following requirements must also be met to qualify for the credit. Hr block online taxes You are the owner of the vehicle. Hr block online taxes If the vehicle is leased, only the lessor, and not the lessee, is entitled to the credit. Hr block online taxes You placed the vehicle in service during 2013. Hr block online taxes The vehicle is manufactured primarily for use on public streets, roads, and highways. Hr block online taxes The original use of the vehicle began with you. Hr block online taxes You acquired the vehicle for your use or to lease to others, and not for resale. Hr block online taxes In the case of the qualified two- or three-wheeled plug-in electric vehicle, the vehicle is acquired after 2011 and before 2014. Hr block online taxes You use the vehicle primarily in the United States. Hr block online taxes How to take the credit. Hr block online taxes   To take the credit, you must complete Form 8936 and attach it to your Form 1040. Hr block online taxes Include the credit in your total for Form 1040, line 53. Hr block online taxes Check box c and enter “8936” on the line next to that box. Hr block online taxes More information. Hr block online taxes   For more information on the credit, see the Form 8936 instructions. Hr block online taxes Residential Energy Credits You may be able to take one or both of the following credits if you made energy saving improvements to your home located in the United States in 2013. Hr block online taxes Nonbusiness energy property credit. Hr block online taxes Residential energy efficient property credit. Hr block online taxes If you are a member of a condominium management association for a condominium you own or a tenant-stockholder in a cooperative housing corporation, you are treated as having paid your proportionate share of any costs of the association or corporation for purposes of these credits. Hr block online taxes Nonbusiness energy property credit. Hr block online taxes   You may be able to take a credit equal to the sum of: 10% of the amount paid or incurred for qualified energy efficiency improvements installed during 2013, and Any residential energy property costs paid or incurred in 2013. Hr block online taxes   There is a lifetime limit of $500 for all years after 2005, of which only $200 can be for windows; $50 for any advanced main air circulating fan; $150 for any qualified natural gas, propane, or oil furnace or hot water boiler; and $300 for any item of energy efficient building property. Hr block online taxes    If the total of nonbusiness energy property credits you have taken in previous years (after 2005) is more than $500, you cannot take this credit in 2013. Hr block online taxes   Qualified energy efficiency improvements are the following improvements that are new, can be expected to remain in use at least 5 years, and meet certain requirements for energy efficiency. Hr block online taxes Any insulation material or system that is specifically and primarily designed to reduce heat loss or gain of a home. Hr block online taxes Exterior window (including skylights). Hr block online taxes Exterior doors. Hr block online taxes Any metal or asphalt roof that has appropriate pigmented coatings or cooling granules specifically and primarily designed to reduce heat gain of the home. Hr block online taxes   Residential energy property is any of the following. Hr block online taxes Certain electric heat pump water heaters; electric heat pumps; central air conditioners; natural gas, propane, or oil water heater; and stoves that use biomass fuel. Hr block online taxes Qualified natural gas, propane, or oil furnaces; and qualified natural gas, propane, or oil hot water boilers. Hr block online taxes Certain advanced main air circulating fans used in natural gas, propane, or oil furnaces. Hr block online taxes Residential energy efficient property credit. Hr block online taxes   You may be able to take a credit of 30% of your costs of qualified solar electric property, solar water heating property, fuel cell property, small wind energy property, and geothermal heat pump property. Hr block online taxes The credit amount for costs paid for qualified fuel cell property is limited to $500 for each one-half kilowatt of capacity of the property. Hr block online taxes Basis reduction. Hr block online taxes   You must reduce the basis of your home by the amount of any credit allowed. Hr block online taxes How to take the credit. Hr block online taxes   Complete Form 5695 and attach it to your Form 1040. Hr block online taxes Enter the credit on Form 1040, line 52. Hr block online taxes More information. Hr block online taxes   For more information on these credits, see the Form 5695 instructions. Hr block online taxes Retirement Savings Contributions Credit (Saver's Credit) You may be able to take this credit if you, or your spouse if filing jointly, made: Contributions (other than rollover contributions) to a traditional or Roth IRA, Elective deferrals to a 401(k) or 403(b) plan (including designated Roth contributions) or to a governmental 457, SEP, or SIMPLE plan, Voluntary employee contributions to a qualified retirement plan (including the federal Thrift Savings Plan), or Contributions to a 501(c)(18)(D) plan. Hr block online taxes However, you cannot take the credit if either of the following applies. Hr block online taxes The amount on Form 1040, line 38, or Form 1040A, line 22, is more than $29,500 ($44,250 if head of household; $59,000 if married filing jointly). Hr block online taxes The person(s) who made the qualified contribution or elective deferral (a) was born after January 1, 1996, (b) is claimed as a dependent on someone else's 2013 tax return, or (c) was a student (defined next). Hr block online taxes Student. Hr block online taxes   You were a student if during any part of 5 calendar months of 2013 you: Were enrolled as a full-time student at a school, or Took a full-time, on-farm training course given by a school or a state, county, or local government agency. Hr block online taxes School. Hr block online taxes   A school includes a technical, trade, or mechanical school. Hr block online taxes It does not include an on-the-job training course, correspondence school, or school offering courses only through the Internet. Hr block online taxes How to take the credit. Hr block online taxes   Figure the credit on Form 8880. Hr block online taxes Enter the credit on your Form 1040, line 50, or your Form 1040A, line 32, and attach Form 8880 to your return. Hr block online taxes More information. Hr block online taxes   For more information on the credit, see the Form 8880 instructions. Hr block online taxes Refundable Credits The credits discussed in this part of the chapter are treated as payments of tax. Hr block online taxes If the total of these credits, withheld federal income tax, and estimated tax payments is more than your total tax, the excess can be refunded to you. Hr block online taxes Credit for Tax on Undistributed Capital Gain You must include in your income any amounts that regulated investment companies (commonly called mutual funds) or real estate investment trusts (REITs) allocated to you as capital gain distributions, even if you did not actually receive them. Hr block online taxes If the mutual fund or REIT paid a tax on the capital gain, you are allowed a credit for the tax since it is considered paid by you. Hr block online taxes The mutual fund or REIT will send you Form 2439 showing your share of the undistributed capital gains and the tax paid, if any. Hr block online taxes How to take the credit. Hr block online taxes   To take the credit, attach Copy B of Form 2439 to your Form 1040. Hr block online taxes Include the amount from box 2 of your Form 2439 in the total for Form 1040, line 71, and check box a. Hr block online taxes More information. Hr block online taxes   See Capital Gain Distributions in chapter 8 for more information on undistributed capital gains. Hr block online taxes Health Coverage Tax Credit You may be able to take this credit for any month in which all the following statements were true on the first day of the month. Hr block online taxes You were an eligible trade adjustment assistance (TAA) recipient, alternative TAA (ATAA) recipient, reemployment TAA (RTAA) recipient, or Pension Benefit Guaranty Corporation (PBGC) pension recipient (defined later); or you were a qualified family member of one of these individuals when the individual died or you finalized a divorce with one of these individuals. Hr block online taxes You and/or your family members were covered by a qualified health insurance plan for which you paid the entire premiums, or your portion of the premiums, directly to your health plan or to “U. Hr block online taxes S. Hr block online taxes Treasury–HCTC. Hr block online taxes ” You were not enrolled in Medicare Part A, B, or C, or you were enrolled in Medicare but your family member(s) qualified for the HCTC. Hr block online taxes You were not enrolled in Medicaid or the Children's Health Insurance Program (CHIP). Hr block online taxes You were not enrolled in the Federal Employees Health Benefits program (FEHBP) or eligible to receive benefits under the U. Hr block online taxes S. Hr block online taxes military health system (TRICARE). Hr block online taxes You were not imprisoned under federal, state, or local authority. Hr block online taxes Your employer did not pay 50% or more of the cost of coverage. Hr block online taxes You did not receive a 65% COBRA premium reduction from your former employer or COBRA administrator. Hr block online taxes But, you cannot take the credit if you can be claimed as a dependent on someone else's 2013 tax return. Hr block online taxes If you meet all of these conditions, you may be able to take a credit of up to 72. Hr block online taxes 5% of the amount you paid directly to a qualified health plan for you and any qualifying family members. Hr block online taxes You cannot take the credit for insurance premiums on coverage that was actually paid for with a National Emergency Grant. Hr block online taxes The amount you paid for qualified health insurance coverage must be reduced by any Archer MSA and health savings account distributions used to pay for the coverage. Hr block online taxes You can take this credit on your tax return or have it paid on your behalf in advance to your insurance company. Hr block online taxes If the credit is paid on your behalf in advance, that amount will reduce the amount of the credit you can take on your tax return. Hr block online taxes TAA recipient. Hr block online taxes   You were an eligible TAA recipient on the first day of the month if, for any day in that month or the prior month, you: Received a trade readjustment allowance, or Would have been entitled to receive such an allowance except that you had not exhausted all rights to any unemployment insurance (except additional compensation that is funded by a state and is not reimbursed from any federal funds) to which you were entitled (or would be entitled if you applied). Hr block online taxes Example. Hr block online taxes You received a trade adjustment allowance for January 2013. Hr block online taxes You were an eligible TAA recipient on the first day of January and February. Hr block online taxes Alternative TAA recipient. Hr block online taxes   You were an eligible alternative TAA recipient on the first day of the month if, for that month or the prior month, you received benefits under an alternative trade adjustment assistance program for older workers established by the Department of Labor. Hr block online taxes Example. Hr block online taxes You received benefits under an alternative trade adjustment assistance program for older workers for October 2013. Hr block online taxes The program was established by the Department of Labor. Hr block online taxes You were an eligible alternative TAA recipient on the first day of October and November. Hr block online taxes RTAA recipient. Hr block online taxes   You were an eligible RTAA recipient on the first day of the month if, for that month or the prior month, you received benefits under a reemployment trade adjustment assistance program for older workers established by the Department of Labor. Hr block online taxes PBGC pension recipient. Hr block online taxes   You were an eligible PBGC pension recipient on the first day of the month, if both of the following apply. Hr block online taxes You were age 55 or older on the first day of the month. Hr block online taxes You received a benefit for that month paid by the PBGC under title IV of the Employee Retirement Income Security Act of 1974 (ERISA). Hr block online taxes If you received a lump-sum payment from the PBGC after August 5, 2002, you meet item (2) above for any month that you would have received a PBGC benefit if you had not received the lump-sum payment. Hr block online taxes How to take the credit. Hr block online taxes   To take the credit, complete Form 8885 and attach it to your Form 1040. Hr block online taxes Include your credit in the total for Form 1040, line 71, and check box c. Hr block online taxes   You must attach health insurance bills (or COBRA payment coupons) and proof of payment for any amounts you include on Form 8885, line 2. Hr block online taxes For details, see Publication 502 or Form 8885. Hr block online taxes More information. Hr block online taxes   For definitions and special rules, including those relating to qualified health insurance plans, qualifying family members, the effect of certain life events, and employer-sponsored health insurance plans, see Publication 502 and the Form 8885 instructions. Hr block online taxes Credit for Excess Social Security Tax or Railroad Retirement Tax Withheld Most employers must withhold social security tax from your wages. Hr block online taxes If you work for a railroad employer, that employer must withhold tier 1 railroad retirement (RRTA) tax and tier 2 RRTA tax. Hr block online taxes If you worked for two or more employers in 2013, you may have had too much social security tax withheld from your pay. Hr block online taxes If one or more of those employers was a railroad employer, too much tier 1 RRTA tax may also have been withheld at the 6. Hr block online taxes 2% rate. Hr block online taxes You can claim the excess social security or tier 1 RRTA tax as a credit against your income tax when you file your return. Hr block online taxes For the tier 1 RRTA tax, only use the portion of the tier 1 RRTA tax that was taxed at the 6. Hr block online taxes 2% rate when figuring if excess tier 1 RRTA tax was withheld; do not include any portion of the tier 1 RRTA tax that was withheld at the Medicare tax rate (1. Hr block online taxes 45%) or the Additional Medicare Tax rate (. Hr block online taxes 9%). Hr block online taxes The following table shows the maximum amount of wages subject to tax and the maximum amount of tax that should have been withheld for 2013. Hr block online taxes Type of tax Maximum  wages subject to tax Maximum tax that should have been withheld Social security or RRTA tier 1 $113,700 $7,049. Hr block online taxes 40 RRTA tier 2 $84,300 $3,709. Hr block online taxes 20 All wages are subject to Medicare tax withholding. Hr block online taxes   Use Form 843, Claim for Refund and Request for Abatement, to claim a refund of excess tier 2 RRTA tax. Hr block online taxes Be sure to attach a copy of all of your W-2 forms. Hr block online taxes Use Worksheet 3-3 in Publication 505, Tax Withholding and Estimated Tax, to help you figure the excess amount. Hr block online taxes Employer's error. Hr block online taxes   If any one employer withheld too much social security or tier 1 RRTA tax, you cannot take the excess as a credit against your income tax. Hr block online taxes The employer should adjust the tax for you. Hr block online taxes If the employer does not adjust the overcollection, you can file a claim for refund using Form 843. Hr block online taxes Joint return. Hr block online taxes   If you are filing a joint return, you cannot add the social security or tier 1 RRTA tax withheld from your spouse's wages to the amount withheld from your wages. Hr block online taxes Figure the withholding separately for you and your spouse to determine if either of you has excess withholding. Hr block online taxes How to figure the credit if you did not work for a railroad. Hr block online taxes   If you did not work for a railroad during 2013, figure the credit as follows: 1. Hr block online taxes Add all social security tax withheld (but not more than $7,049. Hr block online taxes 40 for each employer). Hr block online taxes Enter the total here   2. Hr block online taxes Enter any uncollected social security tax on tips or group-term life insurance included in the total on Form 1040, line 60, identified by “UT”   3. Hr block online taxes Add lines 1 and 2. Hr block online taxes If $7,049. Hr block online taxes 40 or less, stop here. Hr block online taxes You cannot take  the credit   4. Hr block online taxes Social security tax limit 7,049. Hr block online taxes 40 5. Hr block online taxes Credit. Hr block online taxes Subtract line 4 from line 3. Hr block online taxes Enter the result here and on Form 1040, line 69 (or Form 1040A, line 41) $ Example. Hr block online taxes You are married and file a joint return with your spouse who had no gross income in 2013. Hr block online taxes During 2013, you worked for the Brown Technology Company and earned $60,000 in wages. Hr block online taxes Social security tax of $3,720 was withheld. Hr block online taxes You also worked for another employer in 2013 and earned $55,000 in wages. Hr block online taxes $3,410 of social security tax was withheld from these wages. Hr block online taxes Because you worked for more than one employer and your total wages were more than $113,700, you can take a credit of $80. Hr block online taxes 60 for the excess social security tax withheld. Hr block online taxes 1. Hr block online taxes Add all social security tax withheld (but not more than $7,049. Hr block online taxes 40 for each employer). Hr block online taxes Enter the total here $7,130. Hr block online taxes 00 2. Hr block online taxes Enter any uncollected social security tax on tips or group-term life insurance included in the total on Form 1040, line 60, identified by “UT” -0- 3. Hr block online taxes Add lines 1 and 2. Hr block online taxes If $7,049. Hr block online taxes 40 or less, stop here. Hr block online taxes You cannot take the credit 7,130. Hr block online taxes 00 4. Hr block online taxes Social security tax limit 7,049. Hr block online taxes 40 5. Hr block online taxes Credit. Hr block online taxes Subtract line 4 from line 3. Hr block online taxes Enter the result here and on Form 1040, line 69 (or Form 1040A, line 41) $80. Hr block online taxes 60 How to figure the credit if you worked for a railroad. Hr block online taxes   If you were a railroad employee at any time during 2013, figure the credit as follows: 1. Hr block online taxes Add all social security and tier 1 RRTA tax withheld at the 6. Hr block online taxes 2% rate (but not more than $7,049. Hr block online taxes 40 for each employer). Hr block online taxes Enter the total here   2. Hr block online taxes Enter any uncollected social security and tier 1 RRTA tax on tips or group-term life insurance included in the total on Form 1040, line 60, identified by “UT”   3. Hr block online taxes Add lines 1 and 2. Hr block online taxes If $7,049. Hr block online taxes 40 or less, stop here. Hr block online taxes You cannot take  the credit   4. Hr block online taxes Social security and tier 1 RRTA  tax limit 7,049. Hr block online taxes 40 5. Hr block online taxes Credit. Hr block online taxes Subtract line 4 from line 3. Hr block online taxes Enter the result here and on Form 1040, line 69 (or Form 1040A, line 41) $ How to take the credit. Hr block online taxes   Enter the credit on Form 1040, line 69, or include it in the total for Form 1040A, line 41. Hr block online taxes More information. Hr block online taxes   For more information on the credit, see Publication 505. Hr block online taxes Prev  Up  Next   Home   More Online Publications
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Hr block online taxes Publication 530 - Introductory Material Table of Contents What's New Reminders IntroductionOrdering forms and publications. Hr block online taxes Tax questions. Hr block online taxes Useful Items - You may want to see: What's New Simplified method for business use of home deduction. Hr block online taxes  The IRS now provides a simplified method to determine your expenses for business use of your home. Hr block online taxes For more information, see the Instructions for Schedule C (Form 1040). Hr block online taxes Reminders Future developments. Hr block online taxes  For the latest information about developments related to Publication 530, such as legislation enacted after it was published, go to www. Hr block online taxes irs. Hr block online taxes gov/pub530. Hr block online taxes Residential energy credits. Hr block online taxes  You may be able to take a credit if you made energy saving improvements to your home located in the United States in 2013. Hr block online taxes See Form 5695, Residential Energy Credits, for more information. Hr block online taxes Home Affordable Modification Program (HAMP). Hr block online taxes  If you benefit from Pay-for-Performance Success Payments, the payments are not taxable under HAMP. Hr block online taxes Hardest Hit Fund and Emergency Homeowners' Loan Programs. Hr block online taxes  If you are a homeowner who received assistance under a State Housing Finance Agency Hardest Hit Fund program or an Emergency Homeowners' Loan Program, you may be able to deduct all of the payments you made on your mortgage during the year. Hr block online taxes For details, see Hardest Hit Fund and Emergency Homeowners' Loan Programs under What You Can and Cannot Deduct, later. Hr block online taxes Mortgage debt forgiveness. Hr block online taxes  You can exclude from gross income any discharges of qualified principal residence indebtedness made after 2006 and before 2014. Hr block online taxes You must reduce the basis of your principal residence (but not below zero) by the amount you exclude. Hr block online taxes See Discharges of qualified principal residence indebtedness , later, and Form 982, Reduction of Tax Attributes Due to Discharge of Indebtedness (and Section 1082 Basis Adjustment), for more information. Hr block online taxes Repayment of first-time homebuyer credit. Hr block online taxes  Generally, you must repay any credit you claimed for a home you bought if you disposed of the home or it ceased to be your main home in 2013. Hr block online taxes If you bought the home in 2008 and you owned and used it as your main home for all of 2013, you generally must continue repaying the credit with your 2013 tax return, but you do not have to attach Form 5405, Repayment of the First-Time Homebuyer Credit. Hr block online taxes See Form 5405 and its instructions for details and for exceptions to the repayment rule. Hr block online taxes Photographs of missing children. Hr block online taxes  The Internal Revenue Service is a proud partner with the National Center for Missing and Exploited Children. Hr block online taxes Photographs of missing children selected by the Center may appear in this publication on pages that would otherwise be blank. Hr block online taxes You can help bring these children home by looking at the photographs and calling 1-800-THE-LOST (1-800-843-5678) if you recognize a child. Hr block online taxes Introduction This publication provides tax information for homeowners. Hr block online taxes Your home may be a house, condominium, cooperative apartment, mobile home, houseboat, or house trailer that contains sleeping space and toilet and cooking facilities. Hr block online taxes The following topics are explained. Hr block online taxes How you treat items such as settlement and closing costs, real estate taxes, sales taxes, home mortgage interest, and repairs. Hr block online taxes What you can and cannot deduct on your tax return. Hr block online taxes The tax credit you can claim if you received a mortgage credit certificate when you bought your home. Hr block online taxes Why you should keep track of adjustments to the basis of your home. Hr block online taxes (Your home's basis generally is what it cost; adjustments include the cost of any improvements you might make. Hr block online taxes ) What records you should keep as proof of the basis and adjusted basis. Hr block online taxes Comments and suggestions. Hr block online taxes   We welcome your comments about this publication and your suggestions for future editions. Hr block online taxes   You can write to us at the following address: Internal Revenue Service Tax Forms and Publications Division 1111 Constitution Ave. Hr block online taxes NW, IR-6526 Washington, DC 20224   We respond to many letters by telephone. Hr block online taxes Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your correspondence. Hr block online taxes   You can send your comments from www. Hr block online taxes irs. Hr block online taxes gov/formspubs/. Hr block online taxes Click on “More Information” and then on “Comment on Tax Forms and Publications”. Hr block online taxes   Although we cannot respond individually to each comment received, we do appreciate your feedback and will consider your comments as we revise our tax products. Hr block online taxes Ordering forms and publications. Hr block online taxes   Visit www. Hr block online taxes irs. Hr block online taxes gov/formspubs/ to download forms and publications, call 1-800-TAX-FORM (1-800-829-3676), or write to the address below and receive a response within 10 days after your request is received. Hr block online taxes Internal Revenue Service 1201 N. Hr block online taxes Mitsubishi Motorway Bloomington, IL 61705-6613 Tax questions. Hr block online taxes   If you have a tax question, check the information available on IRS. Hr block online taxes gov or call 1-800-829-1040. Hr block online taxes We cannot answer tax questions sent to either of the above addresses. Hr block online taxes Useful Items - You may want to see: Publication 523 Selling Your Home 527 Residential Rental Property 547 Casualties, Disasters, and Thefts 551 Basis of Assets 555 Community Property 587 Business Use of Your Home 936 Home Mortgage Interest Deduction Form (and Instructions) 5405 Repayment of the First-Time Homebuyer Credit 5695 Residential Energy Credits 8396 Mortgage Interest Credit See How To Get Tax Help , near the end of this publication, for information about getting publications and forms. Hr block online taxes Prev  Up  Next   Home   More Online Publications