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Irs1040ez Form

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Irs1040ez Form

Irs1040ez form Publication 555 - Main Content Table of Contents Domicile Community or Separate Property and Income Identifying Income, Deductions, and CreditsIncome Exemptions Deductions Credits, Taxes, and Payments Community Property Laws DisregardedRequesting relief. Irs1040ez form Equitable relief. Irs1040ez form Earned income. Irs1040ez form Trade or business income. Irs1040ez form Partnership income or loss. Irs1040ez form Separate property income. Irs1040ez form Social security benefits. Irs1040ez form Other income. Irs1040ez form End of the Community Preparing a Federal Income Tax ReturnJoint Return Versus Separate Returns Separate Return Preparation How To Get Tax HelpLow Income Taxpayer Clinics Domicile Whether you have community property and community income depends on the state where you are domiciled. Irs1040ez form If you and your spouse (or your registered domestic partner) have different domiciles, check the laws of each to see whether you have community property or community income. Irs1040ez form You have only one domicile even if you have more than one home. Irs1040ez form Your domicile is a permanent legal home that you intend to use for an indefinite or unlimited period, and to which, when absent, you intend to return. Irs1040ez form The question of your domicile is mainly a matter of your intention as indicated by your actions. Irs1040ez form You must be able to show that you intend a given place or state to be your permanent home. Irs1040ez form If you move into or out of a community property state during the year, you may or may not have community income. Irs1040ez form Factors considered in determining domicile include: Where you pay state income tax, Where you vote, Location of property you own, Your citizenship, Length of residence, and Business and social ties to the community. Irs1040ez form Amount of time spent. Irs1040ez form    The amount of time spent in one place does not always explain the difference between home and domicile. Irs1040ez form A temporary home or residence may continue for months or years while a domicile may be established the first moment you occupy the property. Irs1040ez form Your intent is the determining factor in proving where you have your domicile. Irs1040ez form    Note. Irs1040ez form When this publication refers to where you live, it means your domicile. Irs1040ez form Community or Separate Property and Income If you file a federal tax return separately from your spouse, you must report half of all community income and all of your separate income. Irs1040ez form Likewise, a registered domestic partner must report half of all community income and all of his or her separate income on his or her federal tax return. Irs1040ez form You each must attach your Form 8958 to your Form 1040 showing how you figured the amount you are reporting on your return. Irs1040ez form Generally, the laws of the state in which you are domiciled govern whether you have community property and community income or separate property and separate income for federal tax purposes. Irs1040ez form The following is a summary of the general rules. Irs1040ez form These rules are also shown in Table 1. Irs1040ez form Community property. Irs1040ez form    Generally, community property is property: That you, your spouse (or your registered domestic partner), or both acquire during your marriage (or registered domestic partnership) while you and your spouse (or your registered domestic partner) are domiciled in a community property state. Irs1040ez form That you and your spouse (or your registered domestic partner) agreed to convert from separate to community property. Irs1040ez form That cannot be identified as separate property. Irs1040ez form Community income. Irs1040ez form    Generally, community income is income from: Community property. Irs1040ez form Salaries, wages, and other pay received for the services performed by you, your spouse (or your registered domestic partner), or both during your marriage (or registered domestic partnership) while domiciled in a community property state. Irs1040ez form Real estate that is treated as community property under the laws of the state where the property is located. Irs1040ez form Note Separate property. Irs1040ez form    Generally, separate property is: Property that you or your spouse (or your registered domestic partner) owned separately before your marriage (or registered domestic partnership). Irs1040ez form Money earned while domiciled in a noncommunity property state. Irs1040ez form Property that you or your spouse (or your registered domestic partner) received separately as a gift or inheritance during your marriage (or registered domestic partnership). Irs1040ez form Property that you or your spouse (or your registered domestic partner) bought with separate funds, or acquired in exchange for separate property, during your marriage (or registered domestic partnership). Irs1040ez form Property that you and your spouse (or your registered domestic partner) converted from community property to separate property through an agreement valid under state law. Irs1040ez form The part of property bought with separate funds, if part was bought with community funds and part with separate funds. Irs1040ez form Separate income. Irs1040ez form    Generally, income from separate property is the separate income of the spouse (or the registered domestic partner) who owns the property. Irs1040ez form    In Idaho, Louisiana, Texas, and Wisconsin, income from most separate property is community income. Irs1040ez form Table 1. Irs1040ez form General Rules — Property and Income: Community or Separate? Community property is property: That you, your spouse (or your registered domestic partner), or both acquire during your marriage (or registered domestic partnership) while you and your spouse (or your registered domestic partner) are domiciled in a community property state. Irs1040ez form (Includes the part of property bought with community property funds if part was bought with community funds and part with separate funds. Irs1040ez form ) That you and your spouse (or your registered domestic partner) agreed to convert from separate to community property. Irs1040ez form That cannot be identified as separate property. Irs1040ez form Separate property is: Property that you or your spouse (or your registered domestic partner) owned separately before your marriage (or registered domestic partnership). Irs1040ez form Money earned while domiciled in a noncommunity property state. Irs1040ez form Property either of you received as a gift or inherited separately during your marriage (or registered domestic partnership). Irs1040ez form Property bought with separate funds, or exchanged for separate property, during your marriage (or registered domestic partnership). Irs1040ez form Property that you and your spouse (or your registered domestic partner) agreed to convert from community to separate property through an agreement valid under state law. Irs1040ez form The part of property bought with separate funds, if part was bought with community funds and part with separate funds. Irs1040ez form Community income 1,2,3 is income from: Community property. Irs1040ez form Salaries, wages, or pay for services of you, your spouse (or your registered domestic partner), or both during your marriage (or registered domestic partnership) while domiciled in a community property state. Irs1040ez form Real estate that is treated as community property under the laws of the state where the property is located. Irs1040ez form Separate income 1,2 is income from: Separate property which belongs to the spouse (or registered domestic partner) who owns the property. Irs1040ez form 1In Idaho, Louisiana, Texas, and Wisconsin, income from most separate property is community income. Irs1040ez form 2Check your state law if you are separated but do not meet the conditions discussed in Spouses living apart all year , later. Irs1040ez form In some states, the income you earn after you are separated and before a divorce decree is issued continues to be community income. Irs1040ez form In other states, it is separate income. Irs1040ez form 3Under special rules, income that can otherwise be characterized as community income may not be treated as community income for federal income tax purposes in certain situations. Irs1040ez form See Community Property Laws Disregarded , later. Irs1040ez form Identifying Income, Deductions, and Credits If you file separate returns, you and your spouse (or your registered domestic partner) each must attach your Form 8958 to your Form 1040 to identify your community and separate income, deductions, credits, and other return amounts according to the laws of your state. Irs1040ez form Under special rules, income that can otherwise be characterized as community income may not be treated as community income for federal income tax purposes in certain situations. Irs1040ez form See Community Property Laws Disregarded, later. Irs1040ez form Check your state law if you are separated but do not meet the conditions discussed in Spouses living apart all year, later. Irs1040ez form In some states, the income you earn after you are separated and before a divorce decree is issued continues to be community income. Irs1040ez form In other states, it is separate income. Irs1040ez form Income The following is a discussion of the general effect of community property laws on the federal income tax treatment of certain items of income. Irs1040ez form Wages, earnings, and profits. Irs1040ez form    A spouse's (or your registered domestic partner's) wages, earnings, and net profits from a sole proprietorship are community income and must be evenly split. Irs1040ez form Dividends, interest, and rents. Irs1040ez form    Dividends, interest, and rents from community property are community income and must be evenly split. Irs1040ez form Dividends, interest, and rents from separate property are characterized in accordance with the discussion under Income from separate property , later. Irs1040ez form Example. Irs1040ez form If you and your spouse (or your registered domestic partner) buy a bond that is considered community property under your state laws, half the bond interest belongs to you and half belongs to your spouse. Irs1040ez form You each must show the bond interest and the split of that interest on your Form 8958, and report half the interest on your Form 1040. Irs1040ez form Attach your Form 8958 to your Form 1040. Irs1040ez form Alimony received. Irs1040ez form    Alimony or separate maintenance payments made prior to divorce are taxable to the payee spouse only to the extent they exceed 50% (his or her share) of the reportable community income. Irs1040ez form This is so because the payee spouse is already required to report half of the community income. Irs1040ez form See also Alimony paid , later. Irs1040ez form Gains and losses. Irs1040ez form    Gains and losses are classified as separate or community depending on how the property is held. Irs1040ez form For example, a loss on separate property, such as stock held separately, is a separate loss. Irs1040ez form On the other hand, a loss on community property, such as a casualty loss to your home held as community property, is a community loss. Irs1040ez form See Publication 544, Sales and Other Dispositions of Assets, for information on gains and losses. Irs1040ez form See Publication 547, Casualties, Disasters, and Thefts, for information on losses due to a casualty or theft. Irs1040ez form Withdrawals from individual retirement arrangements (IRAs) and Coverdell Education Savings Accounts (ESAs). Irs1040ez form    There are several kinds of individual retirement arrangements (IRAs). Irs1040ez form They are traditional IRAs (including SEP-IRAs), SIMPLE IRAs, and Roth IRAs. Irs1040ez form IRAs and ESAs by law are deemed to be separate property. Irs1040ez form Therefore, taxable IRA and ESA distributions are separate property, even if the funds in the account would otherwise be community property. Irs1040ez form These distributions are wholly taxable to the spouse (or registered domestic partner) whose name is on the account. Irs1040ez form That spouse (or registered domestic partner) is also liable for any penalties and additional taxes on the distributions. Irs1040ez form Pensions. Irs1040ez form    Generally, distributions from pensions will be characterized as community or separate income depending on the respective periods of participation in the pension while married (or during the registered domestic partnership) and domiciled in a community property state or in a noncommunity property state during the total period of participation in the pension. Irs1040ez form See the example under Civil service retirement , later. Irs1040ez form These rules may vary between states. Irs1040ez form Check your state law. Irs1040ez form Lump-sum distributions. Irs1040ez form    If you were born before January 2, 1936, and receive a lump-sum distribution from a qualified retirement plan, you may be able to choose an optional method of figuring the tax on the distribution. Irs1040ez form For the 10-year tax option, you must disregard community property laws. Irs1040ez form For more information, see Publication 575, Pension and Annuity Income, and Form 4972, Tax on Lump-Sum Distributions. Irs1040ez form Civil service retirement. Irs1040ez form    For income tax purposes, community property laws apply to annuities payable under the Civil Service Retirement Act (CSRS) or Federal Employee Retirement System (FERS). Irs1040ez form   Whether a civil service annuity is separate or community income depends on your marital status (or your status as a registered domestic partner) and domicile of the employee when the services were performed for which the annuity is paid. Irs1040ez form Even if you now live in a noncommunity property state and you receive a civil service annuity, it may be community income if it is based on services you performed while married (or during the registered domestic partnership) and domiciled in a community property state. Irs1040ez form   If a civil service annuity is a mixture of community income and separate income, it must be divided between the two kinds of income. Irs1040ez form The division is based on the employee's domicile and marital status (or registered domestic partnership) in community and noncommunity property states during his or her periods of service. Irs1040ez form Example. Irs1040ez form Henry Wright retired this year after 30 years of civil service. Irs1040ez form He and his wife were domiciled in a community property state during the past 15 years. Irs1040ez form Since half the service was performed while the Wrights were married and domiciled in a community property state, half the civil service retirement pay is considered to be community income. Irs1040ez form If Mr. Irs1040ez form Wright receives $1,000 a month in retirement pay, $500 is considered community income—half ($250) is his income and half ($250) is his wife's. Irs1040ez form Military retirement pay. Irs1040ez form    State community property laws apply to military retirement pay. Irs1040ez form Generally, the pay is either separate or community income based on the marital status and domicile of the couple while the member of the Armed Forces was in active military service. Irs1040ez form For example, military retirement pay for services performed during marriage and domicile in a community property state is community income. Irs1040ez form   Active military pay earned while married and domiciled in a community property state is also community income. Irs1040ez form This income is considered to be received half by the member of the Armed Forces and half by the spouse. Irs1040ez form Partnership income. Irs1040ez form    If an interest is held in a partnership, and income from the partnership is attributable to the efforts of either spouse (or registered domestic partner), the partnership income is community property. Irs1040ez form If it is merely a passive investment in a separate property partnership, the partnership income will be characterized in accordance with the discussion under Income from separate property , later. Irs1040ez form Tax-exempt income. Irs1040ez form    For spouses, community income exempt from federal tax generally keeps its exempt status for both spouses. Irs1040ez form For example, under certain circumstances, income earned outside the United States is tax exempt. Irs1040ez form If you earned income and met the conditions that made it exempt, the income is also exempt for your spouse even though he or she may not have met the conditions. Irs1040ez form Registered domestic partners should consult the particular exclusion provision to see if the exempt status applies to both. Irs1040ez form Income from separate property. Irs1040ez form    In some states, income from separate property is separate income. Irs1040ez form These states include Arizona, California, Nevada, New Mexico, and Washington. Irs1040ez form Other states characterize income from separate property as community income. Irs1040ez form These states include Idaho, Louisiana, Texas, and Wisconsin. Irs1040ez form Exemptions When you file separate returns, you must claim your own exemption amount for that year. Irs1040ez form (See your tax return instructions. Irs1040ez form ) You cannot divide the amount allowed as an exemption for a dependent between you and your spouse (or your registered domestic partner). Irs1040ez form When community funds provide support for more than one person, each of whom otherwise qualifies as a dependent, you and your spouse (or your registered domestic partner) may divide the number of dependency exemptions as explained in the following example. Irs1040ez form Example. Irs1040ez form Ron and Diane White have three dependent children and live in Nevada. Irs1040ez form If Ron and Diane file separately, only Ron can claim his own exemption, and only Diane can claim her own exemption. Irs1040ez form Ron and Diane can agree that one of them will claim the exemption for one, two, or all of their children and the other will claim any remaining exemptions. Irs1040ez form They cannot each claim half of the total exemption amount for their three children. Irs1040ez form Deductions If you file separate returns, your deductions generally depend on whether the expenses involve community or separate income. Irs1040ez form Business and investment expenses. Irs1040ez form    If you file separate returns, expenses incurred to earn or produce community business or investment income are generally divided equally between you and your spouse (or your registered domestic partner). Irs1040ez form Each of you is entitled to deduct one-half of the expenses on your separate returns. Irs1040ez form Expenses incurred by a spouse (or registered domestic partner) to produce separate business or investment income is deductible by the spouse (or the registered domestic partner) who earns the corresponding separate business or investment income. Irs1040ez form    Other limits may also apply to business and investment expenses. Irs1040ez form For more information, see Publication 535, Business Expenses, and Publication 550, Investment Income and Expenses. Irs1040ez form Alimony paid. Irs1040ez form    Payments that may otherwise qualify as alimony are not deductible by the payer if they are the recipient spouse's part of community income. Irs1040ez form They are deductible as alimony only to the extent they are more than that spouse's part of community income. Irs1040ez form Example. Irs1040ez form You live in a community property state. Irs1040ez form You are separated but the special rules explained later under Spouses living apart all year do not apply. Irs1040ez form Under a written agreement, you pay your spouse $12,000 of your $20,000 total yearly community income. Irs1040ez form Your spouse receives no other community income. Irs1040ez form Under your state law, earnings of a spouse living separately and apart from the other spouse continue as community property. Irs1040ez form On your separate returns, each of you must report $10,000 of the total community income. Irs1040ez form In addition, your spouse must report $2,000 as alimony received. Irs1040ez form You can deduct $2,000 as alimony paid. Irs1040ez form IRA deduction. Irs1040ez form    Deductions for IRA contributions cannot be split between spouses (or registered domestic partners). Irs1040ez form The deduction for each spouse (or each registered domestic partner) is figured separately and without regard to community property laws. Irs1040ez form Personal expenses. Irs1040ez form   Expenses that are paid out of separate funds, such as medical expenses, are deductible by the spouse who pays them. Irs1040ez form If these expenses are paid from community funds, divide the deduction equally between you and your spouse. Irs1040ez form Credits, Taxes, and Payments The following is a discussion of the general effect of community property laws on the treatment of certain credits, taxes, and payments on your separate return. Irs1040ez form Child tax credit. Irs1040ez form    You may be entitled to a child tax credit for each of your qualifying children. Irs1040ez form You must provide the name and identification number (usually the social security number) of each qualifying child on your return. Irs1040ez form See your tax return instructions for the maximum amount of the credit you can claim for each qualifying child. Irs1040ez form Limit on credit. Irs1040ez form    The credit is limited if your modified adjusted gross income (modified AGI) is above a certain amount. Irs1040ez form The amount at which the limitation (phaseout) begins depends on your filing status. Irs1040ez form Generally, your credit is limited to your tax liability unless you have three or more qualifying children. Irs1040ez form See your tax return instructions for more information. Irs1040ez form Self-employment tax. Irs1040ez form    For the effect of community property laws on the income tax treatment of income from a sole proprietorship and partnerships, see Wages, earnings, and profits and Partnership income , earlier. Irs1040ez form The following rules only apply to persons married for federal tax purposes. Irs1040ez form Registered domestic partners report community income for self-employment tax purposes the same way they do for income tax purposes. Irs1040ez form Sole proprietorship. Irs1040ez form    With regard to net income from a trade or business (other than a partnership) that is community income, self-employment tax is imposed on the spouse carrying on the trade or business. Irs1040ez form Partnerships. Irs1040ez form    All of the distributive share of a married partner's income or loss from a partnership trade or business is attributable to the partner for computing any self-employment tax, even if a portion of the partner's distributive share of income or loss is community income or loss that is otherwise attributable to the partner's spouse for income tax purposes. Irs1040ez form If both spouses are partners, any self-employment tax is allocated based on their distributive shares. Irs1040ez form Federal income tax withheld. Irs1040ez form    Report the credit for federal income tax withheld on community wages in the same manner as your wages. Irs1040ez form If you and your spouse file separate returns on which each of you reports half the community wages, each of you is entitled to credit for half the income tax withheld on those wages. Irs1040ez form Likewise, each registered domestic partner is entitled to credit for half the income tax withheld on those wages. Irs1040ez form Estimated tax payments. Irs1040ez form    In determining whether you must pay estimated tax, apply the estimated tax rules to your estimated income. Irs1040ez form These rules are explained in Publication 505. Irs1040ez form   If you think you may owe estimated tax and want to pay the tax separately (registered domestic partners must pay the tax separately), determine whether you must pay it by taking into account: Half the community income and deductions, All of your separate income and deductions, and Your own exemption and any exemptions for dependents that you may claim. Irs1040ez form   Whether you and your spouse pay estimated tax jointly or separately will not affect your choice of filing joint or separate income tax returns. Irs1040ez form   If you and your spouse paid estimated tax jointly but file separate income tax returns, either of you can claim all of the estimated tax paid, or you may divide it between you in any way that you agree upon. Irs1040ez form   If you cannot agree on how to divide it, the estimated tax you can claim equals the total estimated tax paid times the tax shown on your separate return, divided by the total of the tax shown on your return and your spouse's return. Irs1040ez form   If you paid your estimated taxes separately, you get credit for only the estimated taxes you paid. Irs1040ez form Earned income credit. Irs1040ez form    You may be entitled to an earned income credit (EIC). Irs1040ez form You cannot claim this credit if your filing status is married filing separately. Irs1040ez form   If you are married, but qualify to file as head of household under rules for married taxpayers living apart (see Publication 501, Exemptions, Standard Deduction, and Filing Information), and live in a state that has community property laws, your earned income for the EIC does not include any amount earned by your spouse that is treated as belonging to you under community property laws. Irs1040ez form That amount is not earned income for the EIC, even though you must include it in your gross income on your income tax return. Irs1040ez form Your earned income includes the entire amount you earned, even if part of it is treated as belonging to your spouse under your state's community property laws. Irs1040ez form The same rule applies to registered domestic partners. Irs1040ez form    This rule does not apply when determining your adjusted gross income (AGI) for the EIC. Irs1040ez form Your AGI includes that part of both your and your spouse's (or your registered domestic partner's) wages that you are required to include in gross income shown on your tax return. Irs1040ez form   For more information about the EIC, see Publication 596, Earned Income Credit (EIC). Irs1040ez form Overpayments. Irs1040ez form    The amount of an overpayment on a joint return is allocated under the community property laws of the state in which you are domiciled. Irs1040ez form If, under the laws of your state, community property is subject to premarital or other separate debts of either spouse, the full joint overpayment may be used to offset the obligation. Irs1040ez form If, under the laws of your state, community property is not subject to premarital or other separate debts of either spouse, only the portion of the joint overpayment allocated to the spouse liable for the obligation can be used to offset that liability. Irs1040ez form The portion allocated to the other spouse can be refunded. Irs1040ez form Community Property Laws Disregarded The following discussions are situations where special rules apply to community property and community income for spouses. Irs1040ez form These rules do not apply to registered domestic partners. Irs1040ez form Certain community income not treated as community income by one spouse. Irs1040ez form    Community property laws may not apply to an item of community income that you received but did not treat as community income. Irs1040ez form You are responsible for reporting all of that income item if: You treat the item as if only you are entitled to the income, and You do not notify your spouse of the nature and amount of the income by the due date for filing the return (including extensions). Irs1040ez form Relief from liability arising from community property law. Irs1040ez form    You are not responsible for the tax relating to an item of community income if all the following conditions are met. Irs1040ez form You did not file a joint return for the tax year. Irs1040ez form You did not include an item of community income in gross income. Irs1040ez form The item of community income you did not include is one of the following: Wages, salaries, and other compensation your spouse (or former spouse) received for services he or she performed as an employee. Irs1040ez form Income your spouse (or former spouse) derived from a trade or business he or she operated as a sole proprietor. Irs1040ez form Your spouse's (or former spouse's) distributive share of partnership income. Irs1040ez form Income from your spouse's (or former spouse's) separate property (other than income described in (a), (b), or (c)). Irs1040ez form Use the appropriate community property law to determine what is separate property. Irs1040ez form Any other income that belongs to your spouse (or former spouse) under community property law. Irs1040ez form You establish that you did not know of, and had no reason to know of, that community income. Irs1040ez form Under all facts and circumstances, it would not be fair to include the item of community income in your gross income. Irs1040ez form Requesting relief. Irs1040ez form    For information on how and when to request relief from liabilities arising from community property laws, see Community Property Laws in Publication 971, Innocent Spouse Relief. Irs1040ez form Equitable relief. Irs1040ez form    If you do not qualify for the relief discussed earlier under Relief from liability arising from community property law and are now liable for an underpaid or understated tax you believe should be paid only by your spouse (or former spouse), you may request equitable relief. Irs1040ez form To request equitable relief, you must file Form 8857, Request for Innocent Spouse Relief. Irs1040ez form Also see Publication 971. Irs1040ez form Spousal agreements. Irs1040ez form    In some states a married couple may enter into an agreement that affects the status of property or income as community or separate property. Irs1040ez form Check your state law to determine how it affects you. Irs1040ez form Nonresident alien spouse. Irs1040ez form    If you are a U. Irs1040ez form S. Irs1040ez form citizen or resident alien and you choose to treat your nonresident alien spouse as a U. Irs1040ez form S. Irs1040ez form resident for tax purposes and you are domiciled in a community property state or country, use the community property rules. Irs1040ez form You must file a joint return for the year you make the choice. Irs1040ez form You can file separate returns in later years. Irs1040ez form For details on making this choice, see Publication 519, U. Irs1040ez form S. Irs1040ez form Tax Guide for Aliens. Irs1040ez form   If you are a U. Irs1040ez form S. Irs1040ez form citizen or resident alien and do not choose to treat your nonresident alien spouse as a U. Irs1040ez form S. Irs1040ez form resident for tax purposes, treat your community income as explained next under Spouses living apart all year. Irs1040ez form However, you do not have to meet the four conditions discussed there. Irs1040ez form Spouses living apart all year. Irs1040ez form    If you are married at any time during the calendar year, special rules apply for reporting certain community income. Irs1040ez form You must meet all the following conditions for these special rules to apply. Irs1040ez form You and your spouse lived apart all year. Irs1040ez form You and your spouse did not file a joint return for a tax year beginning or ending in the calendar year. Irs1040ez form You and/or your spouse had earned income for the calendar year that is community income. Irs1040ez form You and your spouse have not transferred, directly or indirectly, any of the earned income in condition (3) above between yourselves before the end of the year. Irs1040ez form Do not take into account transfers satisfying child support obligations or transfers of very small amounts or value. Irs1040ez form If all these conditions are met, you and your spouse must report your community income as discussed next. Irs1040ez form See also Certain community income not treated as community income by one spouse , earlier. Irs1040ez form Earned income. Irs1040ez form    Treat earned income that is not trade or business or partnership income as the income of the spouse who performed the services to earn the income. Irs1040ez form Earned income is wages, salaries, professional fees, and other pay for personal services. Irs1040ez form   Earned income does not include amounts paid by a corporation that are a distribution of earnings and profits rather than a reasonable allowance for personal services rendered. Irs1040ez form Trade or business income. Irs1040ez form    Treat income and related deductions from a trade or business that is not a partnership as those of the spouse carrying on the trade or business. Irs1040ez form Partnership income or loss. Irs1040ez form    Treat income or loss from a trade or business carried on by a partnership as the income or loss of the spouse who is the partner. Irs1040ez form Separate property income. Irs1040ez form    Treat income from the separate property of one spouse as the income of that spouse. Irs1040ez form Social security benefits. Irs1040ez form    Treat social security and equivalent railroad retirement benefits as the income of the spouse who receives the benefits. Irs1040ez form Other income. Irs1040ez form    Treat all other community income, such as dividends, interest, rents, royalties, or gains, as provided under your state's community property law. Irs1040ez form Example. Irs1040ez form George and Sharon were married throughout the year but did not live together at any time during the year. Irs1040ez form Both domiciles were in a community property state. Irs1040ez form They did not file a joint return or transfer any of their earned income between themselves. Irs1040ez form During the year their incomes were as follows:   George Sharon Wages $20,000 $22,000 Consulting business 5,000   Partnership   10,000 Dividends from separate property 1,000 2,000 Interest from community property 500 500 Total $26,500 $34,500 Under the community property law of their state, all the income is considered community income. Irs1040ez form (Some states treat income from separate property as separate income—check your state law. Irs1040ez form ) Sharon did not take part in George's consulting business. Irs1040ez form Ordinarily, on their separate returns they would each report $30,500, half the total community income of $61,000 ($26,500 + $34,500). Irs1040ez form But because they meet the four conditions listed earlier under Spouses living apart all year , they must disregard community property law in reporting all their income (except the interest income) from community property. Irs1040ez form They each report on their returns only their own earnings and other income, and their share of the interest income from community property. Irs1040ez form George reports $26,500 and Sharon reports $34,500. Irs1040ez form Other separated spouses. Irs1040ez form    If you and your spouse are separated but do not meet the four conditions discussed earlier under Spouses living apart all year , you must treat your income according to the laws of your state. Irs1040ez form In some states, income earned after separation but before a decree of divorce continues to be community income. Irs1040ez form In other states, it is separate income. Irs1040ez form End of the Community The marital community may end in several ways. Irs1040ez form When the marital community ends, the community assets (money and property) are divided between the spouses. Irs1040ez form Similarly, a registered domestic partnership may end in several ways and the community assets must be divided between the registered domestic partners. Irs1040ez form Death of spouse. Irs1040ez form    If you own community property and your spouse dies, the total fair market value (FMV) of the community property, including the part that belongs to you, generally becomes the basis of the entire property. Irs1040ez form For this rule to apply, at least half the value of the community property interest must be includible in your spouse's gross estate, whether or not the estate must file a return (this rule does not apply to registered domestic partners). Irs1040ez form Example. Irs1040ez form Bob and Ann owned community property that had a basis of $80,000. Irs1040ez form When Bob died, his and Ann's community property had an FMV of $100,000. Irs1040ez form One-half of the FMV of their community interest was includible in Bob's estate. Irs1040ez form The basis of Ann's half of the property is $50,000 after Bob died (half of the $100,000 FMV). Irs1040ez form The basis of the other half to Bob's heirs is also $50,000. Irs1040ez form   For more information about the basis of assets, see Publication 551, Basis of Assets. Irs1040ez form    The above basis rule does not apply if your spouse died in 2010 and the spouse's executor elected out of the estate tax, in which case section 1022 will apply. Irs1040ez form See Publication 4895, Tax Treatment of Property Acquired From a Decedent Dying in 2010, for additional information. Irs1040ez form Divorce or separation. Irs1040ez form    If spouses divorce or separate, the (equal or unequal) division of community property in connection with the divorce or property settlement does not result in a gain or loss. Irs1040ez form For registered domestic partners, an unequal division of community property in a property settlement may result in a gain or loss. Irs1040ez form For information on the tax consequences of the division of property under a property settlement or divorce decree, see Publication 504. Irs1040ez form   Each spouse (or each registered domestic partner) is taxed on half the community income for the part of the year before the community ends. Irs1040ez form However, see Spouses living apart all year , earlier. Irs1040ez form Any income received after the community ends is separate income. Irs1040ez form This separate income is taxable only to the spouse (or the registered domestic partner) to whom it belongs. Irs1040ez form   An absolute decree of divorce or annulment ends the marital community in all community property states. Irs1040ez form A decree of annulment, even though it holds that no valid marriage ever existed, usually does not nullify community property rights arising during the “marriage. Irs1040ez form ” However, you should check your state law for exceptions. Irs1040ez form   A decree of legal separation or of separate maintenance may or may not end the marital community. Irs1040ez form The court issuing the decree may terminate the marital community and divide the property between the spouses. Irs1040ez form   A separation agreement may divide the community property between you and your spouse. Irs1040ez form It may provide that this property, along with future earnings and property acquired, will be separate property. Irs1040ez form This agreement may end the community. Irs1040ez form   In some states, the marital community ends when the spouses permanently separate, even if there is no formal agreement. Irs1040ez form Check your state law. Irs1040ez form   If you are a registered domestic partner, you should check your state law to determine when the community ends. Irs1040ez form Preparing a Federal Income Tax Return The following discussion does not apply to spouses who meet the conditions under Spouses living apart all year , discussed earlier. Irs1040ez form Those spouses must report their community income as explained in that discussion. Irs1040ez form Joint Return Versus Separate Returns Ordinarily, filing a joint return will give you a greater tax advantage than filing a separate return. Irs1040ez form But in some cases, your combined income tax on separate returns may be less than it would be on a joint return. Irs1040ez form This discussion concerning joint versus separate returns does not apply to registered domestic partners. Irs1040ez form The following rules apply if your filing status is married filing separately. Irs1040ez form You should itemize deductions if your spouse itemizes deductions, because you cannot claim the standard deduction. Irs1040ez form You cannot take the credit for child and dependent care expenses in most instances. Irs1040ez form You cannot take the earned income credit. Irs1040ez form You cannot exclude any interest income from qualified U. Irs1040ez form S. Irs1040ez form savings bonds that you used for higher education expenses. Irs1040ez form You cannot take the credit for the elderly or the disabled unless you lived apart from your spouse all year. Irs1040ez form You may have to include in income more of any social security benefits (including any equivalent railroad retirement benefits) you received during the year than you would on a joint return. Irs1040ez form You cannot deduct interest paid on a qualified student loan. Irs1040ez form You cannot take the education credits. Irs1040ez form You may have a smaller child tax credit than you would on a joint return. Irs1040ez form You cannot take the exclusion or credit for adoption expenses in most instances. Irs1040ez form Figure your tax both on a joint return and on separate returns under the community property laws of your state. Irs1040ez form You can then compare the tax figured under both methods and use the one that results in less tax. Irs1040ez form Separate Return Preparation If you file separate returns, you and your spouse must each report half of your combined community income and deductions in addition to your separate income and deductions. Irs1040ez form Each of you must complete and attach Form 8958 to your Form 1040 showing how you figured the amount you are reporting on your return. Irs1040ez form On the appropriate lines of your separate Form 1040, list only your share of the income and deductions on the appropriate lines of your separate tax returns (wages, interest, dividends, etc. Irs1040ez form ). Irs1040ez form The same reporting rule applies to registered domestic partners. Irs1040ez form For a discussion of the effect of community property laws on certain items of income, deductions, credits, and other return amounts, see Identifying Income, Deductions, and Credits , earlier. Irs1040ez form Attach your Form 8958 to your separate return showing how you figured the income, deductions, and federal income tax withheld that each of you reported. Irs1040ez form Form 8958 is used for married spouses in community property states who choose to file married filing separately. Irs1040ez form Form 8958 is also used for registered domestic partners who are domiciled in Nevada, Washington, or California. Irs1040ez form A registered domestic partner in Nevada, Washington, or California must follow state community property laws and report half the combined community income of the individual and his or her registered domestic partner. Irs1040ez form Extension of time to file. Irs1040ez form    An extension of time for filing your separate return does not extend the time for filing your spouse's (or your registered domestic partner's) separate return. Irs1040ez form If you and your spouse file a joint return, you cannot file separate returns after the due date for filing either separate return has passed. Irs1040ez form How To Get Tax Help Whether it's help with a tax issue, preparing your tax return or a need for a free publication or form, get the help you need the way you want it: online, use a smart phone, call or walk in to an IRS office or volunteer site near you. Irs1040ez form Free help with your tax return. Irs1040ez form    You can get free help preparing your return nationwide from IRS-certified volunteers. Irs1040ez form The Volunteer Income Tax Assistance (VITA) program helps low-to-moderate income, elderly, people with disabilities, and limited English proficient taxpayers. Irs1040ez form The Tax Counseling for the Elderly (TCE) program helps taxpayers age 60 and older with their tax returns. Irs1040ez form Most VITA and TCE sites offer free electronic filing and all volunteers will let you know about credits and deductions you may be entitled to claim. Irs1040ez form In addition, some VITA and TCE sites provide taxpayers the opportunity to prepare their own return with help from an IRS-certified volunteer. Irs1040ez form To find the nearest VITA or TCE site, you can use the VITA Locator Tool on IRS. Irs1040ez form gov, download the IRS2Go app, or call 1-800-906-9887. Irs1040ez form   As part of the TCE program, AARP offers the Tax-Aide counseling program. Irs1040ez form To find the nearest AARP Tax-Aide site, visit AARP's website at www. Irs1040ez form aarp. Irs1040ez form org/money/taxaide or call 1-888-227-7669. Irs1040ez form For more information on these programs, go to IRS. Irs1040ez form gov and enter “VITA” in the search box. Irs1040ez form Internet. Irs1040ez form    IRS. Irs1040ez form gov and IRS2Go are ready when you are —24 hours a day, 7 days a week. Irs1040ez form Download the free IRS2Go app from the iTunes app store or from Google Play. Irs1040ez form Use it to check your refund status, order transcripts of your tax returns or tax account, watch the IRS YouTube channel, get IRS news as soon as it's released to the public, subscribe to filing season updates or daily tax tips, and follow the IRS Twitter news feed, @IRSnews, to get the latest federal tax news, including information about tax law changes and important IRS programs. Irs1040ez form Check the status of your 2013 refund with the Where's My Refund? application on IRS. Irs1040ez form gov or download the IRS2Go app and select the Refund Status option. Irs1040ez form The IRS issues more than 9 out of 10 refunds in less than 21 days. Irs1040ez form Using these applications, you can start checking on the status of your return within 24 hours after we receive your e-filed return or 4 weeks after you mail a paper return. Irs1040ez form You will also be given a personalized refund date as soon as the IRS processes your tax return and approves your refund. Irs1040ez form The IRS updates Where's My Refund? every 24 hours, usually overnight, so you only need to check once a day. Irs1040ez form Use the Interactive Tax Assistant (ITA) to research your tax questions. Irs1040ez form No need to wait on the phone or stand in line. Irs1040ez form The ITA is available 24 hours a day, 7 days a week, and provides you with a variety of tax information related to general filing topics, deductions, credits, and income. Irs1040ez form When you reach the response screen, you can print the entire interview and the final response for your records. Irs1040ez form New subject areas are added on a regular basis. Irs1040ez form  Answers not provided through ITA may be found in Tax Trails, one of the Tax Topics on IRS. Irs1040ez form gov which contain general individual and business tax information or by searching the IRS Tax Map, which includes an international subject index. Irs1040ez form You can use the IRS Tax Map, to search publications and instructions by topic or keyword. Irs1040ez form The IRS Tax Map integrates forms and publications into one research tool and provides single-point access to tax law information by subject. Irs1040ez form When the user searches the IRS Tax Map, they will be provided with links to related content in existing IRS publications, forms and instructions, questions and answers, and Tax Topics. Irs1040ez form Coming this filing season, you can immediately view and print for free all 5 types of individual federal tax transcripts (tax returns, tax account, record of account, wage and income statement, and certification of non-filing) using Get Transcript. Irs1040ez form You can also ask the IRS to mail a return or an account transcript to you. Irs1040ez form Only the mail option is available by choosing the Tax Records option on the IRS2Go app by selecting Mail Transcript on IRS. Irs1040ez form gov or by calling 1-800-908-9946. Irs1040ez form Tax return and tax account transcripts are generally available for the current year and the past three years. Irs1040ez form Determine if you are eligible for the EITC and estimate the amount of the credit with the Earned Income Tax Credit (EITC) Assistant. Irs1040ez form Visit Understanding Your IRS Notice or Letter to get answers to questions about a notice or letter you received from the IRS. Irs1040ez form If you received the First Time Homebuyer Credit, you can use the First Time Homebuyer Credit Account Look-up tool for information on your repayments and account balance. Irs1040ez form Check the status of your amended return using Where's My Amended Return? Go to IRS. Irs1040ez form gov and enter Where's My Amended Return? in the search box. Irs1040ez form You can generally expect your amended return to be processed up to 12 weeks from the date we receive it. Irs1040ez form It can take up to 3 weeks from the date you mailed it to show up in our system. Irs1040ez form Make a payment using one of several safe and convenient electronic payment options available on IRS. Irs1040ez form gov. Irs1040ez form Select the Payment tab on the front page of IRS. Irs1040ez form gov for more information. Irs1040ez form Determine if you are eligible and apply for an online payment agreement, if you owe more tax than you can pay today. Irs1040ez form Figure your income tax withholding with the IRS Withholding Calculator on IRS. Irs1040ez form gov. Irs1040ez form Use it if you've had too much or too little withheld, your personal situation has changed, you're starting a new job or you just want to see if you're having the right amount withheld. Irs1040ez form Determine if you might be subject to the Alternative Minimum Tax by using the Alternative Minimum Tax Assistant on IRS. Irs1040ez form gov. Irs1040ez form Request an Electronic Filing PIN by going to IRS. Irs1040ez form gov and entering Electronic Filing PIN in the search box. Irs1040ez form Download forms, instructions and publications, including accessible versions for people with disabilities. Irs1040ez form Locate the nearest Taxpayer Assistance Center (TAC) using the Office Locator tool on IRS. Irs1040ez form gov, or choose the Contact Us option on the IRS2Go app and search Local Offices. Irs1040ez form An employee can answer questions about your tax account or help you set up a payment plan. Irs1040ez form Before you visit, check the Office Locator on IRS. Irs1040ez form gov, or Local Offices under Contact Us on IRS2Go to confirm the address, phone number, days and hours of operation, and the services provided. Irs1040ez form If you have a special need, such as a disability, you can request an appointment. Irs1040ez form Call the local number listed in the Office Locator, or look in the phone book under United States Government, Internal Revenue Service. Irs1040ez form Apply for an Employer Identification Number (EIN). Irs1040ez form Go to IRS. Irs1040ez form gov and enter Apply for an EIN in the search box. Irs1040ez form Read the Internal Revenue Code, regulations, or other official guidance. Irs1040ez form Read Internal Revenue Bulletins. Irs1040ez form Sign up to receive local and national tax news and more by email. Irs1040ez form Just click on “subscriptions” above the search box on IRS. Irs1040ez form gov and choose from a variety of options. Irs1040ez form    Phone. Irs1040ez form You can call the IRS, or you can carry it in your pocket with the IRS2Go app on your smart phone or tablet. Irs1040ez form Download the free IRS2Go app from the iTunes app store or from Google Play. Irs1040ez form Call to locate the nearest volunteer help site, 1-800-906-9887 or you can use the VITA Locator Tool on IRS. Irs1040ez form gov, or download the IRS2Go app. Irs1040ez form Low-to-moderate income, elderly, people with disabilities, and limited English proficient taxpayers can get free help with their tax return from the nationwide Volunteer Income Tax Assistance (VITA) program. Irs1040ez form The Tax Counseling for the Elderly (TCE) program helps taxpayers age 60 and older with their tax returns. Irs1040ez form Most VITA and TCE sites offer free electronic filing. Irs1040ez form Some VITA and TCE sites provide IRS-certified volunteers who can help prepare your tax return. Irs1040ez form Through the TCE program, AARP offers the Tax-Aide counseling program; call 1-888-227-7669 to find the nearest Tax-Aide location. Irs1040ez form Call the automated Where's My Refund? information hotline to check the status of your 2013 refund 24 hours a day, 7 days a week at 1-800-829-1954. Irs1040ez form If you e-file, you can start checking on the status of your return within 24 hours after the IRS receives your tax return or 4 weeks after you've mailed a paper return. Irs1040ez form The IRS issues more than 9 out of 10 refunds in less than 21 days. Irs1040ez form Where's My Refund? will give you a personalized refund date as soon as the IRS processes your tax return and approves your refund. Irs1040ez form Before you call this automated hotline, have your 2013 tax return handy so you can enter your social security number, your filing status, and the exact whole dollar amount of your refund. Irs1040ez form The IRS updates Where's My Refund? every 24 hours, usually overnight, so you only need to check once a day. Irs1040ez form Note, the above information is for our automated hotline. Irs1040ez form Our live phone and walk-in assistors can research the status of your refund only if it's been 21 days or more since you filed electronically or more than 6 weeks since you mailed your paper return. Irs1040ez form Call the Amended Return Hotline, 1-866-464-2050, to check the status of your amended return. Irs1040ez form You can generally expect your amended return to be processed up to 12 weeks from the date we receive it. Irs1040ez form It can take up to 3 weeks from the date you mailed it to show up in our system. Irs1040ez form Call 1-800-TAX-FORM (1-800-829-3676) to order current-year forms, instructions, publications, and prior-year forms and instructions (limited to 5 years). Irs1040ez form You should receive your order within 10 business days. Irs1040ez form Call TeleTax, 1-800-829-4477, to listen to pre-recorded messages covering general and business tax information. Irs1040ez form If, between January and April 15, you still have questions about the Form 1040, 1040A, or 1040EZ (like filing requirements, dependents, credits, Schedule D, pensions and IRAs or self-employment taxes), call 1-800-829-1040. Irs1040ez form Call using TTY/TDD equipment, 1-800-829-4059 to ask tax questions or order forms and publications. Irs1040ez form The TTY/TDD telephone number is for people who are deaf, hard of hearing, or have a speech disability. Irs1040ez form These individuals can also contact the IRS through relay services such as the Federal Relay Service. Irs1040ez form    Walk-in. Irs1040ez form You can find a selection of forms, publications and services — in-person. Irs1040ez form Products. Irs1040ez form You can walk in to some post offices, libraries, and IRS offices to pick up certain forms, instructions, and publications. Irs1040ez form Some IRS offices, libraries, and city and county government offices have a collection of products available to photocopy from reproducible proofs. Irs1040ez form Services. Irs1040ez form You can walk in to your local TAC for face-to-face tax help. Irs1040ez form An employee can answer questions about your tax account or help you set up a payment plan. Irs1040ez form Before visiting, use the Office Locator tool on IRS. Irs1040ez form gov, or choose the Contact Us option on the IRS2Go app and search Local Offices for days and hours of operation, and services provided. Irs1040ez form    Mail. Irs1040ez form You can send your order for forms, instructions, and publications to the address below. Irs1040ez form You should receive a response within 10 business days after your request is received. Irs1040ez form Internal Revenue Service 1201 N. Irs1040ez form Mitsubishi Motorway Bloomington, IL 61705-6613   The Taxpayer Advocate Service Is Here to Help You. Irs1040ez form The Taxpayer Advocate Service (TAS) is your voice at the IRS. Irs1040ez form Our job is to ensure that every taxpayer is treated fairly and that you know and understand your rights. Irs1040ez form   What can TAS do for you? We can offer you free help with IRS problems that you can't resolve on your own. Irs1040ez form We know this process can be confusing, but the worst thing you can do is nothing at all! TAS can help if you can't resolve your tax problem and: Your problem is causing financial difficulties for you, your family, or your business. Irs1040ez form You face (or your business is facing) an immediate threat of adverse action. Irs1040ez form You've tried repeatedly to contact the IRS but no one has responded, or the IRS hasn't responded by the date promised. Irs1040ez form   If you qualify for our help, you'll be assigned to one advocate who'll be with you at every turn and will do everything possible to resolve your problem. Irs1040ez form Here's why we can help: TAS is an independent organization within the IRS. Irs1040ez form Our advocates know how to work with the IRS. Irs1040ez form Our services are free and tailored to meet your needs. Irs1040ez form We have offices in every state, the District of Columbia, and Puerto Rico. Irs1040ez form   How can you reach us? If you think TAS can help you, call your local advocate, whose number is in your local directory and at www. Irs1040ez form irs. Irs1040ez form gov/advocate, or call us toll-free at 1-877-777-4778. Irs1040ez form   How else does TAS help taxpayers?  TAS also works to resolve large-scale, systemic problems that affect many taxpayers. Irs1040ez form If you know of one of these broad issues, please report it to us through our Systemic Advocacy Management System at www. Irs1040ez form irs. Irs1040ez form gov/sams. Irs1040ez form Low Income Taxpayer Clinics Low Income Taxpayer Clinics (LITCs) serve individuals whose income is below a certain level and need to resolve tax problems such as audits, appeals and tax collection disputes. Irs1040ez form Some clinics can provide information about taxpayer rights and responsibilities in different languages for individuals who speak English as a second language. Irs1040ez form Visit www. Irs1040ez form irs. Irs1040ez form gov/litc or see IRS Publication 4134, Low Income Taxpayer Clinic List. Irs1040ez form Prev  Up  Next   Home   More Online Publications
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Office of Manufactured Housing Programs

The Manufactured Housing Program is a consumer protection program that regulates the construction of certain factory-built housing units called "manufactured homes,". HUD works with 37 states to respond to consumer complaints.

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The Irs1040ez Form

Irs1040ez form 2. Irs1040ez form   Roth IRAs Table of Contents What's New for 2013 What's New for 2014 Reminders Introduction What Is a Roth IRA? When Can a Roth IRA Be Opened? Can You Contribute to a Roth IRA?How Much Can Be Contributed? When Can You Make Contributions? What if You Contribute Too Much? Can You Move Amounts Into a Roth IRA?Conversions Rollover From Employer's Plan Into a Roth IRA Military Death Gratuities and Servicemembers' Group Life Insurance (SGLI) Payments Rollover From a Roth IRA Rollover of Exxon Valdez Settlement Income Rollover of Airline Payments Are Distributions Taxable?What Are Qualified Distributions? Additional Tax on Early Distributions Ordering Rules for Distributions How Do You Figure the Taxable Part? Must You Withdraw or Use Assets?Minimum distributions. Irs1040ez form Recognizing Losses on Investments Distributions After Owner's Death What's New for 2013 Roth IRA contribution limit. Irs1040ez form  If contributions on your behalf are made only to Roth IRAs, your contribution limit for 2013 will generally be the lesser of: $5,500, or Your taxable compensation for the year. Irs1040ez form If you were age 50 or older before 2014 and contributions on your behalf were made only to Roth IRAs, your contribution limit for 2013 will generally be the lesser of: $6,500, or Your taxable compensation for the year. Irs1040ez form However, if your modified adjusted gross income (AGI) is above a certain amount, your contribution limit may be reduced. Irs1040ez form For more information, see How Much Can Be Contributed? under Can You Contribute to a Roth IRA? in this chapter. Irs1040ez form Modified AGI limit for Roth IRA contributions increased. Irs1040ez form  For 2013, your Roth IRA contribution limit is reduced (phased out) in the following situations. Irs1040ez form Your filing status is married filing jointly or qualifying widow(er) and your modified AGI is at least $178,000. Irs1040ez form You cannot make a Roth IRA contribution if your modified AGI is $188,000 or more. Irs1040ez form Your filing status is single, head of household, or married filing separately and you did not live with your spouse at any time in 2013 and your modified AGI is at least $112,000. Irs1040ez form You cannot make a Roth IRA contribution if your modified AGI is $127,000 or more. Irs1040ez form Your filing status is married filing separately, you lived with your spouse at any time during the year, and your modified AGI is more than -0-. Irs1040ez form You cannot make a Roth IRA contribution if your modified AGI is $10,000 or more. Irs1040ez form See Can You Contribute to a Roth IRA? in this chapter. Irs1040ez form Net Investment Income Tax. Irs1040ez form  For purposes of the Net Investment Income Tax (NIIT), net investment income does not include distributions from a qualified retirement plan (for example, 401(a), 403(a), 403(b), 457(b) plans, and IRAs). Irs1040ez form However, these distributions are taken into account when determining the modified adjusted gross income threshold. Irs1040ez form Distributions from a nonqualified retirement plan are included in net investment income. Irs1040ez form See Form 8960, Net Investment Income Tax—Individuals, Estates, and Trusts, and its instructions for more information. Irs1040ez form What's New for 2014 Modified AGI limit for Roth IRA contributions increased. Irs1040ez form  For 2014, your Roth IRA contribution limit is reduced (phased out) in the following situations. Irs1040ez form Your filing status is married filing jointly or qualifying widow(er) and your modified AGI is at least $181,000. Irs1040ez form You cannot make a Roth IRA contribution if your modified AGI is $191,000 or more. Irs1040ez form Your filing status is single, head of household, or married filing separately and you did not live with your spouse at any time in 2014 and your modified AGI is at least $114,000. Irs1040ez form You cannot make a Roth IRA contribution if your modified AGI is $129,000 or more. Irs1040ez form Your filing status is married filing separately, you lived with your spouse at any time during the year, and your modified AGI is more than -0-. Irs1040ez form You cannot make a Roth IRA contribution if your modified AGI is $10,000 or more. Irs1040ez form Reminders Deemed IRAs. Irs1040ez form  For plan years beginning after 2002, a qualified employer plan (retirement plan) can maintain a separate account or annuity under the plan (a deemed IRA) to receive voluntary employee contributions. Irs1040ez form If the separate account or annuity otherwise meets the requirements of an IRA, it will be subject only to IRA rules. Irs1040ez form An employee's account can be treated as a traditional IRA or a Roth IRA. Irs1040ez form For this purpose, a “qualified employer plan” includes: A qualified pension, profit-sharing, or stock bonus plan (section 401(a) plan), A qualified employee annuity plan (section 403(a) plan), A tax-sheltered annuity plan (section 403(b) plan), and A deferred compensation plan (section 457 plan) maintained by a state, a political subdivision of a state, or an agency or instrumentality of a state or political subdivision of a state. Irs1040ez form Designated Roth accounts. Irs1040ez form  Designated Roth accounts are separate accounts under 401(k), 403(b), or 457(b) plans that accept elective deferrals that are referred to as Roth contributions. Irs1040ez form These elective deferrals are included in your income, but qualified distributions from these accounts are not included in your income. Irs1040ez form Designated Roth accounts are not IRAs and should not be confused with Roth IRAs. Irs1040ez form Contributions, up to their respective limits, can be made to Roth IRAs and designated Roth accounts according to your eligibility to participate. Irs1040ez form A contribution to one does not impact your eligibility to contribute to the other. Irs1040ez form See Publication 575, for more information on designated Roth accounts. Irs1040ez form Introduction Regardless of your age, you may be able to establish and make nondeductible contributions to an individual retirement plan called a Roth IRA. Irs1040ez form Contributions not reported. Irs1040ez form   You do not report Roth IRA contributions on your return. Irs1040ez form What Is a Roth IRA? A Roth IRA is an individual retirement plan that, except as explained in this chapter, is subject to the rules that apply to a traditional IRA (defined next). Irs1040ez form It can be either an account or an annuity. Irs1040ez form Individual retirement accounts and annuities are described in chapter 1 under How Can a Traditional IRA Be Opened. Irs1040ez form To be a Roth IRA, the account or annuity must be designated as a Roth IRA when it is opened. Irs1040ez form A deemed IRA can be a Roth IRA, but neither a SEP IRA nor a SIMPLE IRA can be designated as a Roth IRA. Irs1040ez form Unlike a traditional IRA, you cannot deduct contributions to a Roth IRA. Irs1040ez form But, if you satisfy the requirements, qualified distributions (discussed later) are tax free. Irs1040ez form Contributions can be made to your Roth IRA after you reach age 70½ and you can leave amounts in your Roth IRA as long as you live. Irs1040ez form Traditional IRA. Irs1040ez form   A traditional IRA is any IRA that is not a Roth IRA or SIMPLE IRA. Irs1040ez form Traditional IRAs are discussed in chapter 1. Irs1040ez form When Can a Roth IRA Be Opened? You can open a Roth IRA at any time. Irs1040ez form However, the time for making contributions for any year is limited. Irs1040ez form See When Can You Make Contributions , later under Can You Contribute to a Roth IRA. Irs1040ez form Can You Contribute to a Roth IRA? Generally, you can contribute to a Roth IRA if you have taxable compensation (defined later) and your modified AGI (defined later) is less than: $188,000 for married filing jointly or qualifying widow(er), $127,000 for single, head of household, or married filing separately and you did not live with your spouse at any time during the year, and $10,000 for married filing separately and you lived with your spouse at any time during the year. Irs1040ez form You may be able to claim a credit for contributions to your Roth IRA. Irs1040ez form For more information, see chapter 4. Irs1040ez form Is there an age limit for contributions?   Contributions can be made to your Roth IRA regardless of your age. Irs1040ez form Can you contribute to a Roth IRA for your spouse?   You can contribute to a Roth IRA for your spouse provided the contributions satisfy the Kay Bailey Hutchison Spousal IRA limit discussed in chapter 1 under How Much Can Be Contributed, you file jointly, and your modified AGI is less than $188,000. Irs1040ez form Compensation. Irs1040ez form   Compensation includes wages, salaries, tips, professional fees, bonuses, and other amounts received for providing personal services. Irs1040ez form It also includes commissions, self-employment income, nontaxable combat pay, military differential pay, and taxable alimony and separate maintenance payments. Irs1040ez form For more information, see What Is Compensation? under Who Can Open a Traditional IRA? in chapter 1. Irs1040ez form Modified AGI. Irs1040ez form   Your modified AGI for Roth IRA purposes is your adjusted gross income (AGI) as shown on your return with some adjustments. Irs1040ez form Use Worksheet 2-1 , later, to determine your modified AGI. Irs1040ez form    Do not subtract conversion income when figuring your other AGI-based phaseouts and taxable income, such as your deduction for medical and dental expenses. Irs1040ez form Subtract them from AGI only for the purpose of figuring your modified AGI for Roth IRA purposes. Irs1040ez form How Much Can Be Contributed? The contribution limit for Roth IRAs generally depends on whether contributions are made only to Roth IRAs or to both traditional IRAs and Roth IRAs. Irs1040ez form Worksheet 2-1. Irs1040ez form Modified Adjusted Gross Income for Roth IRA Purposes Use this worksheet to figure your modified adjusted gross income for Roth IRA purposes. Irs1040ez form 1. Irs1040ez form Enter your adjusted gross income from Form 1040, line 38; Form 1040A, line 22; or Form 1040NR, line 37 1. Irs1040ez form   2. Irs1040ez form Enter any income resulting from the conversion of an IRA (other than a Roth IRA) to a Roth IRA (included on Form 1040, line 15b, Form 1040A, line 11b, or Form 1040NR, line 16b) and a rollover from a qualified retirement plan to a Roth IRA (included on Form 1040, line 16b, Form 1040A, line 12b, or Form 1040NR, line 17b) 2. Irs1040ez form   3. Irs1040ez form Subtract line 2 from line 1 3. Irs1040ez form   4. Irs1040ez form Enter any traditional IRA deduction from Form 1040, line 32; Form 1040A, line 17; or Form 1040NR, line 32 4. Irs1040ez form   5. Irs1040ez form Enter any student loan interest deduction from Form 1040, line 33; Form 1040A, line 18; or Form 1040NR, line 33 5. Irs1040ez form   6. Irs1040ez form Enter any tuition and fees deduction from Form 1040, line 34, or Form 1040A, line 19 6. Irs1040ez form   7. Irs1040ez form Enter any domestic production activities deduction from Form 1040, line 35, or Form 1040NR, line 34 7. Irs1040ez form   8. Irs1040ez form Enter any foreign earned income exclusion and/or housing exclusion from Form 2555, line 45, or Form 2555-EZ, line 18 8. Irs1040ez form   9. Irs1040ez form Enter any foreign housing deduction from Form 2555, line 50 9. Irs1040ez form   10. Irs1040ez form Enter any excludable qualified savings bond interest from Form 8815, line 14 10. Irs1040ez form   11. Irs1040ez form Enter any excluded employer-provided adoption benefits from Form 8839, line 28 11. Irs1040ez form   12. Irs1040ez form Add the amounts on lines 3 through 11 12. Irs1040ez form   13. Irs1040ez form Enter: $188,000 if married filing jointly or qualifying widow(er), $10,000 if married filing separately and you lived with your spouse at any time during the year, or $127,000 for all others 13. Irs1040ez form   Is the amount on line 12 more than the amount on line 13? If yes, see the note below. Irs1040ez form  If no, the amount on line 12 is your modified adjusted gross income for Roth IRA purposes. Irs1040ez form       Note. Irs1040ez form If the amount on line 12 is more than the amount on line 13 and you have other income or loss items, such as social security income or passive activity losses, that are subject to AGI-based phaseouts, you can refigure your AGI solely for the purpose of figuring your modified AGI for Roth IRA purposes. Irs1040ez form (If you receive social security benefits, use Worksheet 1 in Appendix B to refigure your AGI. Irs1040ez form ) Then go to line 3 above in this Worksheet 2-1 to refigure your modified AGI. Irs1040ez form If you do not have other income or loss items subject to AGI-based phaseouts, your modified adjusted gross income for Roth IRA purposes is the amount on line 12 above. Irs1040ez form Roth IRAs only. Irs1040ez form   If contributions are made only to Roth IRAs, your contribution limit generally is the lesser of: $5,500 ($6,500 if you are age 50 or older), or Your taxable compensation. Irs1040ez form   However, if your modified AGI is above a certain amount, your contribution limit may be reduced, as explained later under Contribution limit reduced . Irs1040ez form Roth IRAs and traditional IRAs. Irs1040ez form   If contributions are made to both Roth IRAs and traditional IRAs established for your benefit, your contribution limit for Roth IRAs generally is the same as your limit would be if contributions were made only to Roth IRAs, but then reduced by all contributions for the year to all IRAs other than Roth IRAs. Irs1040ez form Employer contributions under a SEP or SIMPLE IRA plan do not affect this limit. Irs1040ez form   This means that your contribution limit is the lesser of: $5,500 ($6,500 if you are age 50 or older) minus all contributions (other than employer contributions under a SEP or SIMPLE IRA plan) for the year to all IRAs other than Roth IRAs, or Your taxable compensation minus all contributions (other than employer contributions under a SEP or SIMPLE IRA plan) for the year to all IRAs other than Roth IRAs. Irs1040ez form   However, if your modified AGI is above a certain amount, your contribution limit may be reduced, as explained below under Contribution limit reduced . Irs1040ez form   Simplified employee pensions (SEPs) are discussed in Publication 560. Irs1040ez form Savings incentive match plans for employees (SIMPLEs) are discussed in chapter 3. Irs1040ez form Repayment of reservist distributions. Irs1040ez form   You can repay qualified reservist distributions even if the repayments would cause your total contributions to the Roth IRA to be more than the general limit on contributions. Irs1040ez form However, the total repayments cannot be more than the amount of your distribution. Irs1040ez form Note. Irs1040ez form If you make repayments of qualified reservist distributions to a Roth IRA, increase your basis in the Roth IRA by the amount of the repayment. Irs1040ez form For more information, see Qualified reservist repayments under How Much Can Be Contributed? in chapter 1. Irs1040ez form Contribution limit reduced. Irs1040ez form   If your modified AGI is above a certain amount, your contribution limit is gradually reduced. Irs1040ez form Use Table 2-1, later, to determine if this reduction applies to you. Irs1040ez form Table 2-1. Irs1040ez form Effect of Modified AGI on Roth IRA Contribution This table shows whether your contribution to a Roth IRA is affected by the amount of your modified adjusted gross income (modified AGI). Irs1040ez form IF you have taxable compensation and your filing status is . Irs1040ez form . Irs1040ez form . Irs1040ez form AND your modified AGI is . Irs1040ez form . Irs1040ez form . Irs1040ez form THEN . Irs1040ez form . Irs1040ez form . Irs1040ez form married filing jointly or  qualifying widow(er) less than $178,000 you can contribute up to $5,500 ($6,500 if you are age 50 or older) as explained under How Much Can Be Contributed . Irs1040ez form at least $178,000 but less than $188,000 the amount you can contribute is reduced as explained under Contribution limit reduced . Irs1040ez form $188,000 or more you cannot contribute to a Roth IRA. Irs1040ez form married filing separately and you lived with your spouse at any time during the year zero (-0-) you can contribute up to $5,500 ($6,500 if you are age 50 or older) as explained under How Much Can Be Contributed . Irs1040ez form more than zero (-0-) but less than $10,000 the amount you can contribute is reduced as explained under Contribution limit reduced . Irs1040ez form $10,000 or more you cannot contribute to a Roth IRA. Irs1040ez form single, head of household,  or married filing separately and you did not live with your spouse at any time during the year less than $112,000 you can contribute up to $5,500 ($6,500 if you are age 50 or older) as explained under How Much Can Be Contributed . Irs1040ez form at least $112,000 but less than $127,000 the amount you can contribute is reduced as explained under Contribution limit reduced . Irs1040ez form $127,000 or more you cannot contribute to a Roth IRA. Irs1040ez form Figuring the reduction. Irs1040ez form   If the amount you can contribute must be reduced, use Worksheet 2-2, later, to figure your reduced contribution limit. Irs1040ez form Worksheet 2-2. Irs1040ez form Determining Your Reduced Roth IRA Contribution Limit Before using this worksheet, check Table 2-1, earlier, to determine whether or not your Roth IRA contribution limit is reduced. Irs1040ez form If it is, use this worksheet to determine how much it is reduced. Irs1040ez form 1. Irs1040ez form Enter your modified AGI for Roth IRA purposes (Worksheet 2-1, line 12) 1. Irs1040ez form   2. Irs1040ez form Enter: $178,000 if filing a joint return or qualifying widow(er), $-0- if married filing a separate return and you lived with your spouse at any time in 2013, or $112,000 for all others 2. Irs1040ez form   3. Irs1040ez form Subtract line 2 from line 1 3. Irs1040ez form   4. Irs1040ez form Enter: $10,000 if filing a joint return or qualifying widow(er) or married filing a separate return and you lived with your spouse at any time during the year, or $15,000 for all others 4. Irs1040ez form   5. Irs1040ez form Divide line 3 by line 4 and enter the result as a decimal (rounded to at least three places). Irs1040ez form If the result is 1. Irs1040ez form 000 or more, enter 1. Irs1040ez form 000 5. Irs1040ez form   6. Irs1040ez form Enter the lesser of: $5,500 ($6,500 if you are age 50 or older), or Your taxable compensation 6. Irs1040ez form   7. Irs1040ez form Multiply line 5 by line 6 7. Irs1040ez form   8. Irs1040ez form Subtract line 7 from line 6. Irs1040ez form Round the result up to the nearest $10. Irs1040ez form If the result is less than $200, enter $200 8. Irs1040ez form   9. Irs1040ez form Enter contributions for the year to other IRAs 9. Irs1040ez form   10. Irs1040ez form Subtract line 9 from line 6 10. Irs1040ez form   11. Irs1040ez form Enter the lesser of line 8 or line 10. Irs1040ez form This is your reduced Roth IRA contribution limit 11. Irs1040ez form      Round your reduced contribution limit up to the nearest $10. Irs1040ez form If your reduced contribution limit is more than $0, but less than $200, increase the limit to $200. Irs1040ez form Example. Irs1040ez form You are a 45-year-old, single individual with taxable compensation of $113,000. Irs1040ez form You want to make the maximum allowable contribution to your Roth IRA for 2013. Irs1040ez form Your modified AGI for 2013 is $113,000. Irs1040ez form You have not contributed to any traditional IRA, so the maximum contribution limit before the modified AGI reduction is $5,500. Irs1040ez form You figure your reduced Roth IRA contribution of $5,140 as shown on Worksheet 2-2. Irs1040ez form Example—Illustrated, later. Irs1040ez form   Worksheet 2-2. Irs1040ez form Example—Illustrated Before using this worksheet, check Table 2-1, earlier, to determine whether or not your Roth IRA contribution limit is reduced. Irs1040ez form If it is, use this worksheet to determine how much it is reduced. Irs1040ez form 1. Irs1040ez form Enter your modified AGI for Roth IRA purposes (Worksheet 2-1, line 12) 1. Irs1040ez form 113,000 2. Irs1040ez form Enter: $178,000 if filing a joint return or qualifying widow(er), $-0- if married filing a separate return and you lived with your spouse at any time in 2013, or $112,000 for all others 2. Irs1040ez form 112,000 3. Irs1040ez form Subtract line 2 from line 1 3. Irs1040ez form 1,000 4. Irs1040ez form Enter: $10,000 if filing a joint return or qualifying widow(er) or married filing a separate return and you lived with your spouse at any time during the year, or $15,000 for all others 4. Irs1040ez form 15,000 5. Irs1040ez form Divide line 3 by line 4 and enter the result as a decimal (rounded to at least three places). Irs1040ez form If the result is 1. Irs1040ez form 000 or more, enter 1. Irs1040ez form 000 5. Irs1040ez form . Irs1040ez form 067 6. Irs1040ez form Enter the lesser of: $5,500 ($6,500 if you are age 50 or older), or Your taxable compensation 6. Irs1040ez form 5,500 7. Irs1040ez form Multiply line 5 by line 6 7. Irs1040ez form 369 8. Irs1040ez form Subtract line 7 from line 6. Irs1040ez form Round the result up to the nearest $10. Irs1040ez form If the result is less than $200, enter $200 8. Irs1040ez form 5,140 9. Irs1040ez form Enter contributions for the year to other IRAs 9. Irs1040ez form 0 10. Irs1040ez form Subtract line 9 from line 6 10. Irs1040ez form 5,500 11. Irs1040ez form Enter the lesser of line 8 or line 10. Irs1040ez form This is your reduced Roth IRA contribution limit 11. Irs1040ez form 5,140 When Can You Make Contributions? You can make contributions to a Roth IRA for a year at any time during the year or by the due date of your return for that year (not including extensions). Irs1040ez form You can make contributions for 2013 by the due date (not including extensions) for filing your 2013 tax return. Irs1040ez form This means that most people can make contributions for 2013 by April 15, 2014. Irs1040ez form What if You Contribute Too Much? A 6% excise tax applies to any excess contribution to a Roth IRA. Irs1040ez form Excess contributions. Irs1040ez form   These are the contributions to your Roth IRAs for a year that equal the total of: Amounts contributed for the tax year to your Roth IRAs (other than amounts properly and timely rolled over from a Roth IRA or properly converted from a traditional IRA or rolled over from a qualified retirement plan, as described later) that are more than your contribution limit for the year (explained earlier under How Much Can Be Contributed? ), plus Any excess contributions for the preceding year, reduced by the total of: Any distributions out of your Roth IRAs for the year, plus Your contribution limit for the year minus your contributions to all your IRAs for the year. Irs1040ez form Withdrawal of excess contributions. Irs1040ez form   For purposes of determining excess contributions, any contribution that is withdrawn on or before the due date (including extensions) for filing your tax return for the year is treated as an amount not contributed. Irs1040ez form This treatment only applies if any earnings on the contributions are also withdrawn. Irs1040ez form The earnings are considered earned and received in the year the excess contribution was made. Irs1040ez form   If you timely filed your 2013 tax return without withdrawing a contribution that you made in 2013, you can still have the contribution returned to you within 6 months of the due date of your 2013 tax return, excluding extensions. Irs1040ez form If you do, file an amended return with “Filed pursuant to section 301. Irs1040ez form 9100-2” written at the top. Irs1040ez form Report any related earnings on the amended return and include an explanation of the withdrawal. Irs1040ez form Make any other necessary changes on the amended return. Irs1040ez form Applying excess contributions. Irs1040ez form    If contributions to your Roth IRA for a year were more than the limit, you can apply the excess contribution in one year to a later year if the contributions for that later year are less than the maximum allowed for that year. Irs1040ez form Can You Move Amounts Into a Roth IRA? You may be able to convert amounts from either a traditional, SEP, or SIMPLE IRA into a Roth IRA. Irs1040ez form You may be able to roll over amounts from a qualified retirement plan to a Roth IRA. Irs1040ez form You may be able to recharacterize contributions made to one IRA as having been made directly to a different IRA. Irs1040ez form You can roll amounts over from a designated Roth account or from one Roth IRA to another Roth IRA. Irs1040ez form Conversions You can convert a traditional IRA to a Roth IRA. Irs1040ez form The conversion is treated as a rollover, regardless of the conversion method used. Irs1040ez form Most of the rules for rollovers, described in chapter 1 under Rollover From One IRA Into Another , apply to these rollovers. Irs1040ez form However, the 1-year waiting period does not apply. Irs1040ez form Conversion methods. Irs1040ez form   You can convert amounts from a traditional IRA to a Roth IRA in any of the following three ways. Irs1040ez form Rollover. Irs1040ez form You can receive a distribution from a traditional IRA and roll it over (contribute it) to a Roth IRA within 60 days after the distribution. Irs1040ez form Trustee-to-trustee transfer. Irs1040ez form You can direct the trustee of the traditional IRA to transfer an amount from the traditional IRA to the trustee of the Roth IRA. Irs1040ez form Same trustee transfer. Irs1040ez form If the trustee of the traditional IRA also maintains the Roth IRA, you can direct the trustee to transfer an amount from the traditional IRA to the Roth IRA. Irs1040ez form Same trustee. Irs1040ez form   Conversions made with the same trustee can be made by redesignating the traditional IRA as a Roth IRA, rather than opening a new account or issuing a new contract. Irs1040ez form Income. Irs1040ez form   You must include in your gross income distributions from a traditional IRA that you would have had to include in income if you had not converted them into a Roth IRA. Irs1040ez form These amounts are normally included in income on your return for the year that you converted them from a traditional IRA to a Roth IRA. Irs1040ez form If you must include any amount in your gross income, you may have to increase your withholding or make estimated tax payments. Irs1040ez form See Publication 505, Tax Withholding and Estimated Tax. Irs1040ez form More information. Irs1040ez form   For more information on conversions, see Converting From Any Traditional IRA Into a Roth IRA in chapter 1. Irs1040ez form Rollover From Employer's Plan Into a Roth IRA You can roll over into a Roth IRA all or part of an eligible rollover distribution you receive from your (or your deceased spouse's): Employer's qualified pension, profit-sharing, or stock bonus plan (including a 401(k) plan); Annuity plan; Tax-sheltered annuity plan (section 403(b) plan); or Governmental deferred compensation plan (section 457 plan). Irs1040ez form Any amount rolled over is subject to the same rules for converting a traditional IRA into a Roth IRA. Irs1040ez form See Converting From Any Traditional IRA Into a Roth IRA in chapter 1. Irs1040ez form Also, the rollover contribution must meet the rollover requirements that apply to the specific type of retirement plan. Irs1040ez form Rollover methods. Irs1040ez form   You can roll over amounts from a qualified retirement plan to a Roth IRA in one of the following ways. Irs1040ez form Rollover. Irs1040ez form You can receive a distribution from a qualified retirement plan and roll it over (contribute) to a Roth IRA within 60 days after the distribution. Irs1040ez form Since the distribution is paid directly to you, the payer generally must withhold 20% of it. Irs1040ez form Direct rollover option. Irs1040ez form Your employer's qualified plan must give you the option to have any part of an eligible rollover distribution paid directly to a Roth IRA. Irs1040ez form Generally, no tax is withheld from any part of the designated distribution that is directly paid to the trustee of the Roth IRA. Irs1040ez form Rollover by nonspouse beneficiary. Irs1040ez form   If you are a designated beneficiary (other than a surviving spouse) of a deceased employee, you can roll over all or part of an eligible rollover distribution from one of the types of plans listed above into a Roth IRA. Irs1040ez form You must make the rollover by a direct trustee-to-trustee transfer into an inherited Roth IRA. Irs1040ez form   You will determine your required minimum distributions in years after you make the rollover based on whether the employee died before his or her required beginning date for taking distributions from the plan. Irs1040ez form For more information, see Distributions after the employee’s death under Tax on Excess Accumulation in Publication 575. Irs1040ez form Income. Irs1040ez form   You must include in your gross income distributions from a qualified retirement plan that you would have had to include in income if you had not rolled them over into a Roth IRA. Irs1040ez form You do not include in gross income any part of a distribution from a qualified retirement plan that is a return of contributions (after-tax contributions) to the plan that were taxable to you when paid. Irs1040ez form These amounts are normally included in income on your return for the year of the rollover from the qualified employer plan to a Roth IRA. Irs1040ez form If you must include any amount in your gross income, you may have to increase your withholding or make estimated tax payments. Irs1040ez form See Publication 505, Tax Withholding and Estimated Tax. Irs1040ez form For more information on eligible rollover distributions from qualified retirement plans and withholding, see Rollover From Employer's Plan Into an IRA in chapter 1. Irs1040ez form Military Death Gratuities and Servicemembers' Group Life Insurance (SGLI) Payments If you received a military death gratuity or SGLI payment with respect to a death from injury that occurred after October 6, 2001, you can contribute (roll over) all or part of the amount received to your Roth IRA. Irs1040ez form The contribution is treated as a qualified rollover contribution. Irs1040ez form The amount you can roll over to your Roth IRA cannot exceed the total amount that you received reduced by any part of that amount that was contributed to a Coverdell ESA or another Roth IRA. Irs1040ez form Any military death gratuity or SGLI payment contributed to a Roth IRA is disregarded for purposes of the 1-year waiting period between rollovers. Irs1040ez form The rollover must be completed before the end of the 1-year period beginning on the date you received the payment. Irs1040ez form The amount contributed to your Roth IRA is treated as part of your cost basis (investment in the contract) in the Roth IRA that is not taxable when distributed. Irs1040ez form Rollover From a Roth IRA You can withdraw, tax free, all or part of the assets from one Roth IRA if you contribute them within 60 days to another Roth IRA. Irs1040ez form Most of the rules for rollovers, described in chapter 1 under Rollover From One IRA Into Another , apply to these rollovers. Irs1040ez form However, rollovers from retirement plans other than Roth IRAs are disregarded for purposes of the 1-year waiting period between rollovers. Irs1040ez form A rollover from a Roth IRA to an employer retirement plan is not allowed. Irs1040ez form A rollover from a designated Roth account can only be made to another designated Roth account or to a Roth IRA. Irs1040ez form If you roll over an amount from one Roth IRA to another Roth IRA, the 5-year period used to determine qualified distributions does not change. Irs1040ez form The 5-year period begins with the first taxable year for which the contribution was made to the initial Roth IRA. Irs1040ez form See What are Qualified Distributions , later. Irs1040ez form Rollover of Exxon Valdez Settlement Income If you are a qualified taxpayer (defined in chapter 1, earlier) and you received qualified settlement income (defined in chapter 1, earlier), you can contribute all or part of the amount received to an eligible retirement plan which includes a Roth IRA. Irs1040ez form The rules for contributing qualified settlement income to a Roth IRA are the same as the rules for contributing qualified settlement income to a traditional IRA with the following exception. Irs1040ez form Qualified settlement income that is contributed to a Roth IRA, or to a designated Roth account, will be: Included in your taxable income for the year the qualified settlement income was received, and Treated as part of your cost basis (investment in the contract) in the Roth IRA that is not taxable when distributed. Irs1040ez form For more information, see Rollover of Exxon Valdez Settlement Income in chapter 1. Irs1040ez form Rollover of Airline Payments If you are a qualified airline employee (defined next), you may contribute any portion of an airline payment (defined below) you receive to a Roth IRA. Irs1040ez form The contribution must be made within 180 days from the date you received the payment. Irs1040ez form The contribution will be treated as a qualified rollover contribution. Irs1040ez form The rollover contribution is included in income to the extent it would be included in income if it were not part of the rollover contribution. Irs1040ez form Also, any reduction in the airline payment amount on account of employment taxes shall be disregarded when figuring the amount you can contribute to your Roth IRA. Irs1040ez form Qualified airline employee. Irs1040ez form    A current or former employee of a commercial airline carrier who was a participant in a qualified defined benefit plan maintained by the carrier which was terminated or became subject to restrictions under Section 402(b) of the Pension Protection Act of 2006. Irs1040ez form These provisions also apply to surviving spouses of qualified airline employees. Irs1040ez form Airline payment. Irs1040ez form    An airline payment is any payment of money or other property that is paid to a qualified airline employee from a commercial airline carrier. Irs1040ez form The payment also must be made both: Under the approval of an order of federal bankruptcy court in a case filed after September 11, 2001, and before January 1, 2007, and In respect of the qualified airline employee’s interest in a bankruptcy claim against the airline carrier, any note of the carrier (or amount paid in lieu of a note being issued), or any other fixed obligation of the carrier to pay a lump sum amount. Irs1040ez form Any reduction in the airline payment amount on account of employment taxes shall be disregarded when figuring the amount you can roll over to your traditional IRA. Irs1040ez form Also, an airline payment shall not include any amount payable on the basis of the airline carrier’s future earnings or profits. Irs1040ez form Are Distributions Taxable? You do not include in your gross income qualified distributions or distributions that are a return of your regular contributions from your Roth IRA(s). Irs1040ez form You also do not include distributions from your Roth IRA that you roll over tax free into another Roth IRA. Irs1040ez form You may have to include part of other distributions in your income. Irs1040ez form See Ordering Rules for Distributions , later. Irs1040ez form Basis of distributed property. Irs1040ez form   The basis of property distributed from a Roth IRA is its fair market value (FMV) on the date of distribution, whether or not the distribution is a qualified distribution. Irs1040ez form Withdrawals of contributions by due date. Irs1040ez form   If you withdraw contributions (including any net earnings on the contributions) by the due date of your return for the year in which you made the contribution, the contributions are treated as if you never made them. Irs1040ez form If you have an extension of time to file your return, you can withdraw the contributions and earnings by the extended due date. Irs1040ez form The withdrawal of contributions is tax free, but you must include the earnings on the contributions in income for the year in which you made the contributions. Irs1040ez form What Are Qualified Distributions? A qualified distribution is any payment or distribution from your Roth IRA that meets the following requirements. Irs1040ez form It is made after the 5-year period beginning with the first taxable year for which a contribution was made to a Roth IRA set up for your benefit, and The payment or distribution is: Made on or after the date you reach age 59½, Made because you are disabled (defined earlier), Made to a beneficiary or to your estate after your death, or One that meets the requirements listed under First home under Exceptions in chapter 1 (up to a $10,000 lifetime limit). Irs1040ez form Additional Tax on Early Distributions If you receive a distribution that is not a qualified distribution, you may have to pay the 10% additional tax on early distributions as explained in the following paragraphs. Irs1040ez form Distributions of conversion and certain rollover contributions within 5-year period. Irs1040ez form   If, within the 5-year period starting with the first day of your tax year in which you convert an amount from a traditional IRA or rollover an amount from a qualified retirement plan to a Roth IRA, you take a distribution from a Roth IRA, you may have to pay the 10% additional tax on early distributions. Irs1040ez form You generally must pay the 10% additional tax on any amount attributable to the part of the amount converted or rolled over (the conversion or rollover contribution) that you had to include in income (recapture amount). Irs1040ez form A separate 5-year period applies to each conversion and rollover. Irs1040ez form See Ordering Rules for Distributions , later, to determine the recapture amount, if any. Irs1040ez form   The 5-year period used for determining whether the 10% early distribution tax applies to a distribution from a conversion or rollover contribution is separately determined for each conversion and rollover, and is not necessarily the same as the 5-year period used for determining whether a distribution is a qualified distribution. Irs1040ez form See What Are Qualified Distributions , earlier. Irs1040ez form   For example, if a calendar-year taxpayer makes a conversion contribution on February 25, 2013, and makes a regular contribution for 2012 on the same date, the 5-year period for the conversion begins January 1, 2013, while the 5-year period for the regular contribution begins on January 1, 2012. Irs1040ez form   Unless one of the exceptions listed later applies, you must pay the additional tax on the portion of the distribution attributable to the part of the conversion or rollover contribution that you had to include in income because of the conversion or rollover. Irs1040ez form   You must pay the 10% additional tax in the year of the distribution, even if you had included the conversion or rollover contribution in an earlier year. Irs1040ez form You also must pay the additional tax on any portion of the distribution attributable to earnings on contributions. Irs1040ez form Other early distributions. Irs1040ez form   Unless one of the exceptions listed below applies, you must pay the 10% additional tax on the taxable part of any distributions that are not qualified distributions. Irs1040ez form Exceptions. Irs1040ez form   You may not have to pay the 10% additional tax in the following situations. Irs1040ez form You have reached age 59½. Irs1040ez form You are totally and permanently disabled. Irs1040ez form You are the beneficiary of a deceased IRA owner. Irs1040ez form You use the distribution to buy, build, or rebuild a first home. Irs1040ez form The distributions are part of a series of substantially equal payments. Irs1040ez form You have unreimbursed medical expenses that are more than 10% (or 7. Irs1040ez form 5% if you or your spouse was born before January 2, 1949) of your adjusted gross income (defined earlier) for the year. Irs1040ez form You are paying medical insurance premiums during a period of unemployment. Irs1040ez form The distributions are not more than your qualified higher education expenses. Irs1040ez form The distribution is due to an IRS levy of the qualified plan. Irs1040ez form The distribution is a qualified reservist distribution. Irs1040ez form Most of these exceptions are discussed earlier in chapter 1 under Early Distributions . Irs1040ez form Please click here for the text description of the image. Irs1040ez form Is Roth Distributions a Qualified Distribution? Ordering Rules for Distributions If you receive a distribution from your Roth IRA that is not a qualified distribution, part of it may be taxable. Irs1040ez form There is a set order in which contributions (including conversion contributions and rollover contributions from qualified retirement plans) and earnings are considered to be distributed from your Roth IRA. Irs1040ez form For these purposes, disregard the withdrawal of excess contributions and the earnings on them (discussed earlier under What if You Contribute Too Much ). Irs1040ez form Order the distributions as follows. Irs1040ez form Regular contributions. Irs1040ez form Conversion and rollover contributions, on a first-in, first-out basis (generally, total conversions and rollovers from the earliest year first). Irs1040ez form See Aggregation (grouping and adding) rules, later. Irs1040ez form Take these conversion and rollover contributions into account as follows: Taxable portion (the amount required to be included in gross income because of the conversion or rollover) first, and then the Nontaxable portion. Irs1040ez form Earnings on contributions. Irs1040ez form Disregard rollover contributions from other Roth IRAs for this purpose. Irs1040ez form Aggregation (grouping and adding) rules. Irs1040ez form   Determine the taxable amounts distributed (withdrawn), distributions, and contributions by grouping and adding them together as follows. Irs1040ez form Add all distributions from all your Roth IRAs during the year together. Irs1040ez form Add all regular contributions made for the year (including contributions made after the close of the year, but before the due date of your return) together. Irs1040ez form Add this total to the total undistributed regular contributions made in prior years. Irs1040ez form Add all conversion and rollover contributions made during the year together. Irs1040ez form For purposes of the ordering rules, in the case of any conversion or rollover in which the conversion or rollover distribution is made in 2013 and the conversion or rollover contribution is made in 2014, treat the conversion or rollover contribution as contributed before any other conversion or rollover contributions made in 2014. Irs1040ez form Add any recharacterized contributions that end up in a Roth IRA to the appropriate contribution group for the year that the original contribution would have been taken into account if it had been made directly to the Roth IRA. Irs1040ez form   Disregard any recharacterized contribution that ends up in an IRA other than a Roth IRA for the purpose of grouping (aggregating) both contributions and distributions. Irs1040ez form Also disregard any amount withdrawn to correct an excess contribution (including the earnings withdrawn) for this purpose. Irs1040ez form Example. Irs1040ez form On October 15, 2009, Justin converted all $80,000 in his traditional IRA to his Roth IRA. Irs1040ez form His Forms 8606 from prior years show that $20,000 of the amount converted is his basis. Irs1040ez form Justin included $60,000 ($80,000 − $20,000) in his gross income. Irs1040ez form On February 23, 2013, Justin made a regular contribution of $5,000 to a Roth IRA. Irs1040ez form On November 8, 2013, at age 60, Justin took a $7,000 distribution from his Roth IRA. Irs1040ez form The first $5,000 of the distribution is a return of Justin's regular contribution and is not includible in his income. Irs1040ez form The next $2,000 of the distribution is not includible in income because it was included previously. Irs1040ez form Figuring your recapture amount. Irs1040ez form   If you had an early distribution from your Roth IRAs in 2013, you must allocate the early distribution by using the Recapture Amount—Allocation Chart, later. Irs1040ez form Recapture Amount—Allocation Chart Enter the amount from your 2013 Form 8606, line 19   Before you begin: You will need your prior year Form(s) 8606 and income tax return(s) if you entered an amount on any line(s) as indicated below. Irs1040ez form   You will now allocate the amount you entered above (2013 Form 8606, line 19) in the order shown, to the amounts on the lines listed below (to the extent a prior year distribution was not allocable to the amount). Irs1040ez form The maximum amount you can enter on each line below is the amount entered on the referenced lines of the form for that year. Irs1040ez form Note. Irs1040ez form Once you have allocated the full amount from your 2013 Form 8606, line 19, STOP. Irs1040ez form See the Example , earlier. Irs1040ez form Tax Year Your Form 2013 Form 8606, line 20   Form 8606, line 22   1998 Form 8606, line 16   Form 8606, line 15   1999 Form 8606, line 16   Form 8606, line 15   2000 Form 8606, line 16   Form 8606, line 15   2001 Form 8606, line 18   Form 8606, line 17   2002 Form 8606, line 18   Form 8606, line 17   2003 Form 8606, line 18   Form 8606, line 17   2004 Form 8606, line 18   Form 8606, line 17   2005 Form 8606, line 18   Form 8606, line 17   2006 Form 8606, line 18   Form 8606, line 17   2007 Form 8606, line 18   Form 8606, line 17   2008 Form 8606, line 18  and  Form 1040, line 16b; Form 1040A, line 12b; or Form 1040NR, line 17b*   Form 8606, line 17  and  Form 1040, line 16a; Form 1040A, line 12a; or Form 1040NR, line 17a**   2009 Form 8606, line 18  and  Form 1040, line 16b; Form 1040A, line 12b; or Form 1040NR, line 17b*   Form 8606, line 17  and  Form 1040, line 16a; Form 1040A, line 12a; or Form 1040NR, line 17a**   2010 Form 8606, lines 18 and 23   Form 8606, lines 17 and 22   2011 Form 8606, line 18  and  Form 1040, line 16b; Form 1040A, line 12b; or Form 1040NR, line 17b*   Form 8606, line 17  and  Form 1040, line 16a; Form 1040A, line 12a; or Form 1040NR, line 17a**   2012 Form 8606, line 18  and  Form 1040, line 16b; Form 1040A, line 12b; or Form 1040NR, line 17b*   Form 8606, line 17  and  Form 1040, line 16a; Form 1040A, line 12a; or Form 1040NR, line 17a**   2013 Form 8606, line 18  and  Form 1040, line 16b; Form 1040A, line 12b; or Form 1040NR, line 17b*   Form 8606, line 17  and  Form 1040, line 16a; Form 1040A, line 12a; or Form 1040NR, line 17a**   2013 Form 8606, line 25       *Only include those amounts rolled over to a Roth IRA. Irs1040ez form  **Only include any contributions (usually Form 1099-R, box 5) that were taxable to you when made and rolled over to a Roth IRA. Irs1040ez form Amount to include on Form 5329, line 1. Irs1040ez form   Include on line 1 of your 2013 Form 5329 the following four amounts from the Recapture Amount—Allocation Chart that you filled out. Irs1040ez form The amount you allocated to line 20 of your 2013 Form 8606. Irs1040ez form The amount(s) allocated to your 2009 through 2013 Forms 8606, line 18, and your 2010 Form 8606, line 23. Irs1040ez form The amount(s) allocated to your 2009, 2011, 2012, and 2013 Forms 1040, line 16b; Forms 1040A, line 12b; and Forms 1040NR, line 17b. Irs1040ez form The amount from your 2013 Form 8606, line 25. Irs1040ez form   Also, include any amount you allocated to line 20 of your 2013 Form 8606 on your 2013 Form 5329, line 2, and enter exception number 09. Irs1040ez form Example. Irs1040ez form Ishmael, age 32, opened a Roth IRA in 2000. Irs1040ez form He made the maximum contributions to it every year. Irs1040ez form In addition, he made the following transactions into his Roth IRA. Irs1040ez form In 2005, he converted $10,000 from his traditional IRA into his Roth IRA. Irs1040ez form He filled out a 2005 Form 8606 and attached it with his 2005 Form 1040. Irs1040ez form He entered $0 on line 17 of Form 8606 because he took a deduction for all the contributions to the traditional IRA, therefore he has no basis. Irs1040ez form He entered $10,000 on line 18 of Form 8606. Irs1040ez form In 2011, he rolled over the entire balance of his qualified retirement plan, $20,000, into a Roth IRA when he changed jobs. Irs1040ez form He used a 2011 Form 1040 to file his taxes. Irs1040ez form He entered $20,000 on line 16a of Form 1040 because that was the amount reported in box 1 of his 2011 Form 1099-R. Irs1040ez form Box 5 of his 2011 Form 1099-R reported $0 since he did not make any after-tax contributions to the qualified retirement plan. Irs1040ez form He entered $20,000 on line 16b of Form 1040 since that is the taxable amount that was rolled over in 2011. Irs1040ez form The total balance in his Roth IRA as of January 1, 2013 was $105,000 ($50,000 in contributions from 2000 through 2012 + $10,000 from the 2005 conversion + $20,000 from the 2011 rollover + $25,000 from earnings). Irs1040ez form He has not taken any early distribution from his Roth IRA before 2013. Irs1040ez form In 2013, he made the maximum contribution of $5,500 to his Roth IRA. Irs1040ez form In August of 2013, he took a $85,500 early distribution from his Roth IRA to use as a down payment on the purchase of his first home. Irs1040ez form See his filled out Illustrated Recapture Amount—Allocation Chart, later, to see how he allocated the amounts from the above transactions. Irs1040ez form Based on his allocation, he would enter $20,000 on his 2013 Form 5329, line 1 (see Amount to include on Form 5329, line 1 , above). Irs1040ez form He should also report $10,000 on his 2013 Form 5329, line 2, and enter exception 09 since that amount is not subject to the 10% additional tax on early distributions. Irs1040ez form Illustrated Recapture Amount—Allocation Chart Enter the amount from your 2013 Form 8606, line 19 $85,500 Before you begin: You will need your prior year Form(s) 8606 and income tax return(s) if you entered an amount on any line(s) as indicated below. Irs1040ez form   You will now allocate the amount you entered above (2013 Form 8606, line 19) in the order shown, to the amounts on the lines listed below (to the extent a prior year distribution was not allocable to the amount). Irs1040ez form The maximum amount you can enter on each line below is the amount entered on the referenced lines of the form for that year. Irs1040ez form Note. Irs1040ez form Once you have allocated the full amount from your 2013 Form 8606, line 19, STOP. Irs1040ez form See the Example , earlier. Irs1040ez form Tax Year Your Form 2013 Form 8606, line 20 $10,000 Form 8606, line 22 $55,500 1998 Form 8606, line 16   Form 8606, line 15   1999 Form 8606, line 16   Form 8606, line 15   2000 Form 8606, line 16   Form 8606, line 15   2001 Form 8606, line 18   Form 8606, line 17   2002 Form 8606, line 18   Form 8606, line 17   2003 Form 8606, line 18   Form 8606, line 17   2004 Form 8606, line 18   Form 8606, line 17   2005 Form 8606, line 18 $10,000 Form 8606, line 17 $-0- 2006 Form 8606, line 18   Form 8606, line 17   2007 Form 8606, line 18   Form 8606, line 17   2008 Form 8606, line 18  and  Form 1040, line 16b; Form 1040A, line 12b; or Form 1040NR, line 17b*   Form 8606, line 17  and  Form 1040, line 16a; Form 1040A, line 12a; or Form 1040NR, line 17a**   2009 Form 8606, line 18  and  Form 1040, line 16b; Form 1040A, line 12b; or Form 1040NR, line 17b*   Form 8606, line 17  and  Form 1040, line 16a; Form 1040A, line 12a; or Form 1040NR, line 17a**   2010 Form 8606, lines 18 and 23   Form 8606, lines 17 and 22   2011 Form 8606, line 18  and  Form 1040, line 16b; Form 1040A, line 12b; or Form 1040NR, line 17b* $10,000 Form 8606, line 17  and  Form 1040, line 16a; Form 1040A, line 12a; or Form 1040NR, line 17a**   2012 Form 8606, line 18  and  Form 1040, line 16b; Form 1040A, line 12b; or Form 1040NR, line 17b*   Form 8606, line 17  and  Form 1040, line 16a; Form 1040A, line 12a; or Form 1040NR, line 17a**   2013 Form 8606, line 18  and  Form 1040, line 16b; Form 1040A, line 12b; or Form 1040NR, line 17b*   Form 8606, line 17  and  Form 1040, line 16a; Form 1040A, line 12a; or Form 1040NR, line 17a**   2013 Form 8606, line 25       *Only include those amounts rolled over to a Roth IRA. Irs1040ez form  **Only include any contributions (usually Form 1099-R, box 5) that were taxable to you when made and rolled over to a Roth IRA. Irs1040ez form How Do You Figure the Taxable Part? To figure the taxable part of a distribution that is not a qualified distribution, complete Form 8606, Part III. Irs1040ez form Must You Withdraw or Use Assets? You are not required to take distributions from your Roth IRA at any age. Irs1040ez form The minimum distribution rules that apply to traditional IRAs do not apply to Roth IRAs while the owner is alive. Irs1040ez form However, after the death of a Roth IRA owner, certain of the minimum distribution rules that apply to traditional IRAs also apply to Roth IRAs as explained later under Distributions After Owner's Death . Irs1040ez form Minimum distributions. Irs1040ez form   You cannot use your Roth IRA to satisfy minimum distribution requirements for your traditional IRA. Irs1040ez form Nor can you use distributions from traditional IRAs for required distributions from Roth IRAs. Irs1040ez form See Distributions to beneficiaries , later. Irs1040ez form Recognizing Losses on Investments If you have a loss on your Roth IRA investment, you can recognize the loss on your income tax return, but only when all the amounts in all of your Roth IRA accounts have been distributed to you and the total distributions are less than your unrecovered basis. Irs1040ez form Your basis is the total amount of contributions in your Roth IRAs. Irs1040ez form You claim the loss as a miscellaneous itemized deduction, subject to the 2%-of-adjusted-gross-income limit that applies to certain miscellaneous itemized deductions on Schedule A (Form 1040). Irs1040ez form Any such losses are added back to taxable income for purposes of calculating the alternative minimum tax. Irs1040ez form Distributions After Owner's Death If a Roth IRA owner dies, the minimum distribution rules that apply to traditional IRAs apply to Roth IRAs as though the Roth IRA owner died before his or her required beginning date. Irs1040ez form See When Can You Withdraw or Use Assets? in chapter 1. Irs1040ez form Distributions to beneficiaries. Irs1040ez form   Generally, the entire interest in the Roth IRA must be distributed by the end of the fifth calendar year after the year of the owner's death unless the interest is payable to a designated beneficiary over the life or life expectancy of the designated beneficiary. Irs1040ez form (See When Must You Withdraw Assets? (Required Minimum Distributions) in chapter 1. Irs1040ez form )   If paid as an annuity, the entire interest must be payable over a period not greater than the designated beneficiary's life expectancy and distributions must begin before the end of the calendar year following the year of death. Irs1040ez form Distributions from another Roth IRA cannot be substituted for these distributions unless the other Roth IRA was inherited from the same decedent. Irs1040ez form   If the sole beneficiary is the spouse, he or she can either delay distributions until the decedent would have reached age 70½ or treat the Roth IRA as his or her own. Irs1040ez form Combining with other Roth IRAs. Irs1040ez form   A beneficiary can combine an inherited Roth IRA with another Roth IRA maintained by the beneficiary only if the beneficiary either: Inherited the other Roth IRA from the same decedent, or Was the spouse of the decedent and the sole beneficiary of the Roth IRA and elects to treat it as his or her own IRA. Irs1040ez form Distributions that are not qualified distributions. Irs1040ez form   If a distribution to a beneficiary is not a qualified distribution, it is generally includible in the beneficiary's gross income in the same manner as it would have been included in the owner's income had it been distributed to the IRA owner when he or she was alive. Irs1040ez form   If the owner of a Roth IRA dies before the end of: The 5-year period beginning with the first taxable year for which a contribution was made to a Roth IRA set up for the owner's benefit, or The 5-year period starting with the year of a conversion contribution from a traditional IRA or a rollover from a qualified retirement plan to a Roth IRA, each type of contribution is divided among multiple beneficiaries according to the pro-rata share of each. Irs1040ez form See Ordering Rules for Distributions , earlier in this chapter under Are Distributions Taxable. Irs1040ez form Example. Irs1040ez form When Ms. Irs1040ez form Hibbard died in 2013, her Roth IRA contained regular contributions of $4,000, a conversion contribution of $10,000 that was made in 2009, and earnings of $2,000. Irs1040ez form No distributions had been made from her IRA. Irs1040ez form She had no basis in the conversion contribution in 2009. Irs1040ez form When she established this Roth IRA (her first) in 2009, she named each of her four children as equal beneficiaries. Irs1040ez form Each child will receive one-fourth of each type of contribution and one-fourth of the earnings. Irs1040ez form An immediate distribution of $4,000 to each child will be treated as $1,000 from regular contributions, $2,500 from conversion contributions, and $500 from earnings. Irs1040ez form In this case, because the distributions are made before the end of the applicable 5-year period for a qualified distribution, each beneficiary includes $500 in income for 2013. Irs1040ez form The 10% additional tax on early distributions does not apply because the distribution was made to the beneficiaries as a result of the death of the IRA owner. Irs1040ez form If distributions from an inherited Roth IRA are less than the required minimum distribution for the year, discussed in chapter 1 under When Must You Withdraw Assets? (Required Minimum Distributions), you may have to pay a 50% excise tax for that year on the amount not distributed as required. Irs1040ez form For the tax on excess accumulations (insufficient distributions), see Excess Accumulations (Insufficient Distributions) under What Acts Result in Penalties or Additional Taxes? in chapter 1. Irs1040ez form If this applies to you, substitute “Roth IRA” for “traditional IRA” in that discussion. Irs1040ez form Prev  Up  Next   Home   More Online Publications