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Tax Form 1040 Year 2008

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Tax Form 1040 Year 2008

Tax form 1040 year 2008 17. Tax form 1040 year 2008   Individual Retirement Arrangements (IRAs) Table of Contents What's New Reminders Introduction Useful Items - You may want to see: Traditional IRAsWho Can Open a Traditional IRA? When and How Can a Traditional IRA Be Opened? How Much Can Be Contributed? When Can Contributions Be Made? How Much Can You Deduct? Nondeductible Contributions Inherited IRAs Can You Move Retirement Plan Assets? When Can You Withdraw or Use IRA Assets? When Must You Withdraw IRA Assets? (Required Minimum Distributions) Are Distributions Taxable? What Acts Result in Penalties or Additional Taxes? Roth IRAsWhat Is a Roth IRA? When Can a Roth IRA Be Opened? Can You Contribute to a Roth IRA? Can You Move Amounts Into a Roth IRA? Are Distributions Taxable? What's New Traditional IRA contribution and deduction limit. Tax form 1040 year 2008  The contribution limit to your traditional IRA for 2013 will be increased to the smaller of the following amounts: $5,500, or Your taxable compensation for the year. Tax form 1040 year 2008 If you were age 50 or older before 2014, the most that can be contributed to your traditional IRA for 2013 will be the smaller of the following amounts: $6,500, or Your taxable compensation for the year. Tax form 1040 year 2008 For more information, see How Much Can Be Contributed? later. Tax form 1040 year 2008 Roth IRA contribution limit. Tax form 1040 year 2008  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. Tax form 1040 year 2008 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. Tax form 1040 year 2008 However, if your modified adjusted gross income (AGI) is above a certain amount, your contribution limit may be reduced. Tax form 1040 year 2008 For more information, see How Much Can Be Contributed? under Can You Contribute to a Roth IRA? later. Tax form 1040 year 2008 Modified AGI limit for traditional IRA contributions increased. Tax form 1040 year 2008  For 2013, if you were covered by a retirement plan at work, your deduction for contributions to a traditional IRA is reduced (phased out) if your modified AGI is: More than $95,000 but less than $115,000 for a married couple filing a joint return or a qualifying widow(er), More than $59,000 but less than $69,000 for a single individual or head of household, or Less than $10,000 for a married individual filing a separate return. Tax form 1040 year 2008 If you either lived with your spouse or file a joint return, and your spouse was covered by a retirement plan at work, but you were not, your deduction is phased out if your modified AGI is more than $178,000 but less than $188,000. Tax form 1040 year 2008 If your modified AGI is $188,000 or more, you cannot take a deduction for contributions to a traditional IRA. Tax form 1040 year 2008 See How Much Can You Deduct , later. Tax form 1040 year 2008 Modified AGI limit for Roth IRA contributions increased. Tax form 1040 year 2008  For 2013, your Roth IRA contribution limit is reduced (phased out) in the following situations. Tax form 1040 year 2008 Your filing status is married filing jointly or qualifying widow(er) and your modified AGI is at least $178,000. Tax form 1040 year 2008 You cannot make a Roth IRA contribution if your modified AGI is $188,000 or more. Tax form 1040 year 2008 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. Tax form 1040 year 2008 You cannot make a Roth IRA contribution if your modified AGI is $127,000 or more. Tax form 1040 year 2008 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-. Tax form 1040 year 2008 You cannot make a Roth IRA contribution if your modified AGI is $10,000 or more. Tax form 1040 year 2008 See Can You Contribute to a Roth IRA , later. Tax form 1040 year 2008 Net Investment Income Tax. Tax form 1040 year 2008   For purposes of the Net Investment Income Tax (NIIT), net investment income does not include distributions from a qualified retirement plan including IRAs (for example; 401(a), 403(a), 403(b), 408, 408A, or 457(b) plans). Tax form 1040 year 2008 However, these distributions are taken into account when determining the modified adjusted gross income threshold. Tax form 1040 year 2008 Distributions from a nonqualified retirement plan are included in net investment income. Tax form 1040 year 2008 See Form 8960, Net Investment Income Tax - Individuals, Estates, and Trusts, and its instructions for more information. Tax form 1040 year 2008 Name change. Tax form 1040 year 2008  All spousal IRAs have been renamed Kay Bailey Hutchison Spousal IRAs. Tax form 1040 year 2008 There are no changes to the rules regarding these IRAs. Tax form 1040 year 2008 See Kay Bailey Hutchison Spousal IRA Limit , later, for more information. Tax form 1040 year 2008 Reminders 2014 limits. Tax form 1040 year 2008   You can find information about the 2014 contribution and AGI limits in Publication 590. Tax form 1040 year 2008 Contributions to both traditional and Roth IRAs. Tax form 1040 year 2008   For information on your combined contribution limit if you contribute to both traditional and Roth IRAs, see Roth IRAs and traditional IRAs under How Much Can Be Contributed? in Roth IRAs, later. Tax form 1040 year 2008 Statement of required minimum distribution. Tax form 1040 year 2008  If a minimum distribution from your IRA is required, the trustee, custodian, or issuer that held the IRA at the end of the preceding year must either report the amount of the required minimum distribution to you, or offer to calculate it for you. Tax form 1040 year 2008 The report or offer must include the date by which the amount must be distributed. Tax form 1040 year 2008 The report is due January 31 of the year in which the minimum distribution is required. Tax form 1040 year 2008 It can be provided with the year-end fair market value statement that you normally get each year. Tax form 1040 year 2008 No report is required for IRAs of owners who have died. Tax form 1040 year 2008 IRA interest. Tax form 1040 year 2008  Although interest earned from your IRA is generally not taxed in the year earned, it is not tax-exempt interest. Tax form 1040 year 2008 Tax on your traditional IRA is generally deferred until you take a distribution. Tax form 1040 year 2008 Do not report this interest on your tax return as tax-exempt interest. Tax form 1040 year 2008 Form 8606. Tax form 1040 year 2008   To designate contributions as nondeductible, you must file Form 8606, Nondeductible IRAs. Tax form 1040 year 2008 The term “50 or older” is used several times in this chapter. Tax form 1040 year 2008 It refers to an IRA owner who is age 50 or older by the end of the tax year. Tax form 1040 year 2008 Introduction An individual retirement arrangement (IRA) is a personal savings plan that gives you tax advantages for setting aside money for your retirement. Tax form 1040 year 2008 This chapter discusses the following topics. Tax form 1040 year 2008 The rules for a traditional IRA (any IRA that is not a Roth or SIMPLE IRA). Tax form 1040 year 2008 The Roth IRA, which features nondeductible contributions and tax-free distributions. Tax form 1040 year 2008 Simplified Employee Pensions (SEPs) and Savings Incentive Match Plans for Employees (SIMPLEs) are not discussed in this chapter. Tax form 1040 year 2008 For more information on these plans and employees' SEP IRAs and SIMPLE IRAs that are part of these plans, see Publications 560 and 590. Tax form 1040 year 2008 For information about contributions, deductions, withdrawals, transfers, rollovers, and other transactions, see Publication 590. Tax form 1040 year 2008 Useful Items - You may want to see: Publication 560 Retirement Plans for Small Business 590 Individual Retirement Arrangements (IRAs) Form (and Instructions) 5329 Additional Taxes on Qualified Plans (including IRAs) and Other Tax-Favored Accounts 8606 Nondeductible IRAs Traditional IRAs In this chapter, the original IRA (sometimes called an ordinary or regular IRA) is referred to as a “traditional IRA. Tax form 1040 year 2008 ” A traditional IRA is any IRA that is not a Roth IRA or a SIMPLE IRA. Tax form 1040 year 2008 Two advantages of a traditional IRA are: You may be able to deduct some or all of your contributions to it, depending on your circumstances, and Generally, amounts in your IRA, including earnings and gains, are not taxed until they are distributed. Tax form 1040 year 2008 Who Can Open a Traditional IRA? You can open and make contributions to a traditional IRA if: You (or, if you file a joint return, your spouse) received taxable compensation during the year, and You were not age 70½ by the end of the year. Tax form 1040 year 2008 What is compensation?   Generally, compensation is what you earn from working. Tax form 1040 year 2008 Compensation includes wages, salaries, tips, professional fees, bonuses, and other amounts you receive for providing personal services. Tax form 1040 year 2008 The IRS treats as compensation any amount properly shown in box 1 (Wages, tips, other compensation) of Form W-2, Wage and Tax Statement, provided that amount is reduced by any amount properly shown in box 11 (Nonqualified plans). Tax form 1040 year 2008   Scholarship and fellowship payments are compensation for this purpose only if shown in box 1 of Form W-2. Tax form 1040 year 2008   Compensation also includes commissions and taxable alimony and separate maintenance payments. Tax form 1040 year 2008 Self-employment income. Tax form 1040 year 2008   If you are self-employed (a sole proprietor or a partner), compensation is the net earnings from your trade or business (provided your personal services are a material income-producing factor) reduced by the total of: The deduction for contributions made on your behalf to retirement plans, and The deductible part of your self-employment tax. Tax form 1040 year 2008   Compensation includes earnings from self-employment even if they are not subject to self-employment tax because of your religious beliefs. Tax form 1040 year 2008 Nontaxable combat pay. Tax form 1040 year 2008   For IRA purposes, if you were a member of the U. Tax form 1040 year 2008 S. Tax form 1040 year 2008 Armed Forces, your compensation includes any nontaxable combat pay you receive. Tax form 1040 year 2008 What is not compensation?   Compensation does not include any of the following items. Tax form 1040 year 2008 Earnings and profits from property, such as rental income, interest income, and dividend income. Tax form 1040 year 2008 Pension or annuity income. Tax form 1040 year 2008 Deferred compensation received (compensation payments postponed from a past year). Tax form 1040 year 2008 Income from a partnership for which you do not provide services that are a material income-producing factor. Tax form 1040 year 2008 Conservation Reserve Program (CRP) payments reported on Schedule SE (Form 1040), line 1b. Tax form 1040 year 2008 Any amounts (other than combat pay) you exclude from income, such as foreign earned income and housing costs. Tax form 1040 year 2008 When and How Can a Traditional IRA Be Opened? You can open a traditional IRA at any time. Tax form 1040 year 2008 However, the time for making contributions for any year is limited. Tax form 1040 year 2008 See When Can Contributions Be Made , later. Tax form 1040 year 2008 You can open different kinds of IRAs with a variety of organizations. Tax form 1040 year 2008 You can open an IRA at a bank or other financial institution or with a mutual fund or life insurance company. Tax form 1040 year 2008 You can also open an IRA through your stockbroker. Tax form 1040 year 2008 Any IRA must meet Internal Revenue Code requirements. Tax form 1040 year 2008 Kinds of traditional IRAs. Tax form 1040 year 2008   Your traditional IRA can be an individual retirement account or annuity. Tax form 1040 year 2008 It can be part of either a simplified employee pension (SEP) or an employer or employee association trust account. Tax form 1040 year 2008 How Much Can Be Contributed? There are limits and other rules that affect the amount that can be contributed to a traditional IRA. Tax form 1040 year 2008 These limits and other rules are explained below. Tax form 1040 year 2008 Community property laws. Tax form 1040 year 2008   Except as discussed later under Kay Bailey Hutchison Spousal IRA limit , each spouse figures his or her limit separately, using his or her own compensation. Tax form 1040 year 2008 This is the rule even in states with community property laws. Tax form 1040 year 2008 Brokers' commissions. Tax form 1040 year 2008   Brokers' commissions paid in connection with your traditional IRA are subject to the contribution limit. Tax form 1040 year 2008 Trustees' fees. Tax form 1040 year 2008   Trustees' administrative fees are not subject to the contribution limit. Tax form 1040 year 2008 Qualified reservist repayments. Tax form 1040 year 2008   If you are (or were) a member of a reserve component and you were ordered or called to active duty after September 11, 2001, you may be able to contribute (repay) to an IRA amounts equal to any qualified reservist distributions you received. Tax form 1040 year 2008 You can make these repayment contributions even if they would cause your total contributions to the IRA to be more than the general limit on contributions. Tax form 1040 year 2008 To be eligible to make these repayment contributions, you must have received a qualified reservist distribution from an IRA or from a section 401(k) or 403(b) plan or similar arrangement. Tax form 1040 year 2008   For more information, see Qualified reservist repayments under How Much Can Be Contributed? in chapter 1 of Publication 590. Tax form 1040 year 2008 Contributions on your behalf to a traditional IRA reduce your limit for contributions to a Roth IRA. Tax form 1040 year 2008 (See Roth IRAs, later. Tax form 1040 year 2008 ) General limit. Tax form 1040 year 2008   For 2013, the most that can be contributed to your traditional IRA generally is the smaller of the following amounts. Tax form 1040 year 2008 $5,500 ($6,500 if you are 50 or older). Tax form 1040 year 2008 Your taxable compensation (defined earlier) for the year. Tax form 1040 year 2008 This is the most that can be contributed regardless of whether the contributions are to one or more traditional IRAs or whether all or part of the contributions are nondeductible. Tax form 1040 year 2008 (See Nondeductible Contributions , later. Tax form 1040 year 2008 ) Qualified reservist repayments do not affect this limit. Tax form 1040 year 2008 Example 1. Tax form 1040 year 2008 Betty, who is 34 years old and single, earned $24,000 in 2013. Tax form 1040 year 2008 Her IRA contributions for 2013 are limited to $5,500. Tax form 1040 year 2008 Example 2. Tax form 1040 year 2008 John, an unmarried college student working part time, earned $3,500 in 2013. Tax form 1040 year 2008 His IRA contributions for 2013 are limited to $3,500, the amount of his compensation. Tax form 1040 year 2008 Kay Bailey Hutchison Spousal IRA limit. Tax form 1040 year 2008   For 2013, if you file a joint return and your taxable compensation is less than that of your spouse, the most that can be contributed for the year to your IRA is the smaller of the following amounts. Tax form 1040 year 2008 $5,500 ($6,500 if you are 50 or older). Tax form 1040 year 2008 The total compensation includible in the gross income of both you and your spouse for the year, reduced by the following two amounts. Tax form 1040 year 2008 Your spouse's IRA contribution for the year to a traditional IRA. Tax form 1040 year 2008 Any contribution for the year to a Roth IRA on behalf of your spouse. Tax form 1040 year 2008 This means that the total combined contributions that can be made for the year to your IRA and your spouse's IRA can be as much as $11,000 ($12,000 if only one of you is 50 or older, or $13,000 if both of you are 50 or older). Tax form 1040 year 2008 When Can Contributions Be Made? As soon as you open your traditional IRA, contributions can be made to it through your chosen sponsor (trustee or other administrator). Tax form 1040 year 2008 Contributions must be in the form of money (cash, check, or money order). Tax form 1040 year 2008 Property cannot be contributed. Tax form 1040 year 2008 Contributions must be made by due date. Tax form 1040 year 2008   Contributions can be made to your traditional IRA for a year at any time during the year or by the due date for filing your return for that year, not including extensions. Tax form 1040 year 2008 Age 70½ rule. Tax form 1040 year 2008   Contributions cannot be made to your traditional IRA for the year in which you reach age 70½ or for any later year. Tax form 1040 year 2008   You attain age 70½ on the date that is 6 calendar months after the 70th anniversary of your birth. Tax form 1040 year 2008 If you were born on or before June 30, 1943, you cannot contribute for 2013 or any later year. Tax form 1040 year 2008 Designating year for which contribution is made. Tax form 1040 year 2008   If an amount is contributed to your traditional IRA between January 1 and April 15, you should tell the sponsor which year (the current year or the previous year) the contribution is for. Tax form 1040 year 2008 If you do not tell the sponsor which year it is for, the sponsor can assume, and report to the IRS, that the contribution is for the current year (the year the sponsor received it). Tax form 1040 year 2008 Filing before a contribution is made. Tax form 1040 year 2008   You can file your return claiming a traditional IRA contribution before the contribution is actually made. Tax form 1040 year 2008 Generally, the contribution must be made by the due date of your return, not including extensions. Tax form 1040 year 2008 Contributions not required. Tax form 1040 year 2008   You do not have to contribute to your traditional IRA for every tax year, even if you can. Tax form 1040 year 2008 How Much Can You Deduct? Generally, you can deduct the lesser of: The contributions to your traditional IRA for the year, or The general limit (or the Kay Bailey Hutchison Spousal IRA limit, if it applies). Tax form 1040 year 2008 However, if you or your spouse was covered by an employer retirement plan, you may not be able to deduct this amount. Tax form 1040 year 2008 See Limit If Covered by Employer Plan , later. Tax form 1040 year 2008 You may be able to claim a credit for contributions to your traditional IRA. Tax form 1040 year 2008 For more information, see chapter 37. Tax form 1040 year 2008 Trustees' fees. Tax form 1040 year 2008   Trustees' administrative fees that are billed separately and paid in connection with your traditional IRA are not deductible as IRA contributions. Tax form 1040 year 2008 However, they may be deductible as a miscellaneous itemized deduction on Schedule A (Form 1040). Tax form 1040 year 2008 See chapter 28. Tax form 1040 year 2008 Brokers' commissions. Tax form 1040 year 2008   Brokers' commissions are part of your IRA contribution and, as such, are deductible subject to the limits. Tax form 1040 year 2008 Full deduction. Tax form 1040 year 2008   If neither you nor your spouse was covered for any part of the year by an employer retirement plan, you can take a deduction for total contributions to one or more traditional IRAs of up to the lesser of: $5,500 ($6,500 if you are age 50 or older in 2013). Tax form 1040 year 2008 100% of your compensation. Tax form 1040 year 2008 This limit is reduced by any contributions made to a 501(c)(18) plan on your behalf. Tax form 1040 year 2008 Kay Bailey Hutchison Spousal IRA. Tax form 1040 year 2008   In the case of a married couple with unequal compensation who file a joint return, the deduction for contributions to the traditional IRA of the spouse with less compensation is limited to the lesser of the following amounts. Tax form 1040 year 2008 $5,500 ($6,500 if the spouse with the lower compensation is age 50 or older in 2013). Tax form 1040 year 2008 The total compensation includible in the gross income of both spouses for the year reduced by the following three amounts. Tax form 1040 year 2008 The IRA deduction for the year of the spouse with the greater compensation. Tax form 1040 year 2008 Any designated nondeductible contribution for the year made on behalf of the spouse with the greater compensation. Tax form 1040 year 2008 Any contributions for the year to a Roth IRA on behalf of the spouse with the greater compensation. Tax form 1040 year 2008 This limit is reduced by any contributions to a 501(c)(18) plan on behalf of the spouse with the lesser compensation. Tax form 1040 year 2008 Note. Tax form 1040 year 2008 If you were divorced or legally separated (and did not remarry) before the end of the year, you cannot deduct any contributions to your spouse's IRA. Tax form 1040 year 2008 After a divorce or legal separation, you can deduct only contributions to your own IRA. Tax form 1040 year 2008 Your deductions are subject to the rules for single individuals. Tax form 1040 year 2008 Covered by an employer retirement plan. Tax form 1040 year 2008   If you or your spouse was covered by an employer retirement plan at any time during the year for which contributions were made, your deduction may be further limited. Tax form 1040 year 2008 This is discussed later under Limit If Covered by Employer Plan . Tax form 1040 year 2008 Limits on the amount you can deduct do not affect the amount that can be contributed. Tax form 1040 year 2008 See Nondeductible Contributions , later. Tax form 1040 year 2008 Are You Covered by an Employer Plan? The Form W-2 you receive from your employer has a box used to indicate whether you were covered for the year. Tax form 1040 year 2008 The “Retirement plan” box should be checked if you were covered. Tax form 1040 year 2008 Reservists and volunteer firefighters should also see Situations in Which You Are Not Covered by an Employer Plan , later. Tax form 1040 year 2008 If you are not certain whether you were covered by your employer's retirement plan, you should ask your employer. Tax form 1040 year 2008 Federal judges. Tax form 1040 year 2008   For purposes of the IRA deduction, federal judges are covered by an employer retirement plan. Tax form 1040 year 2008 For Which Year(s) Are You Covered by an Employer Plan? Special rules apply to determine the tax years for which you are covered by an employer plan. Tax form 1040 year 2008 These rules differ depending on whether the plan is a defined contribution plan or a defined benefit plan. Tax form 1040 year 2008 Tax year. Tax form 1040 year 2008   Your tax year is the annual accounting period you use to keep records and report income and expenses on your income tax return. Tax form 1040 year 2008 For almost all people, the tax year is the calendar year. Tax form 1040 year 2008 Defined contribution plan. Tax form 1040 year 2008   Generally, you are covered by a defined contribution plan for a tax year if amounts are contributed or allocated to your account for the plan year that ends with or within that tax year. Tax form 1040 year 2008   A defined contribution plan is a plan that provides for a separate account for each person covered by the plan. Tax form 1040 year 2008 Types of defined contribution plans include profit-sharing plans, stock bonus plans, and money purchase pension plans. Tax form 1040 year 2008 Defined benefit plan. Tax form 1040 year 2008   If you are eligible to participate in your employer's defined benefit plan for the plan year that ends within your tax year, you are covered by the plan. Tax form 1040 year 2008 This rule applies even if you: Declined to participate in the plan, Did not make a required contribution, or Did not perform the minimum service required to accrue a benefit for the year. Tax form 1040 year 2008   A defined benefit plan is any plan that is not a defined contribution plan. Tax form 1040 year 2008 Defined benefit plans include pension plans and annuity plans. Tax form 1040 year 2008 No vested interest. Tax form 1040 year 2008   If you accrue a benefit for a plan year, you are covered by that plan even if you have no vested interest in (legal right to) the accrual. Tax form 1040 year 2008 Situations in Which You Are Not Covered by an Employer Plan Unless you are covered under another employer plan, you are not covered by an employer plan if you are in one of the situations described below. Tax form 1040 year 2008 Social security or railroad retirement. Tax form 1040 year 2008   Coverage under social security or railroad retirement is not coverage under an employer retirement plan. Tax form 1040 year 2008 Benefits from a previous employer's plan. Tax form 1040 year 2008   If you receive retirement benefits from a previous employer's plan, you are not covered by that plan. Tax form 1040 year 2008 Reservists. Tax form 1040 year 2008   If the only reason you participate in a plan is because you are a member of a reserve unit of the armed forces, you may not be covered by the plan. Tax form 1040 year 2008 You are not covered by the plan if both of the following conditions are met. Tax form 1040 year 2008 The plan you participate in is established for its employees by: The United States, A state or political subdivision of a state, or An instrumentality of either (a) or (b) above. Tax form 1040 year 2008 You did not serve more than 90 days on active duty during the year (not counting duty for training). Tax form 1040 year 2008 Volunteer firefighters. Tax form 1040 year 2008   If the only reason you participate in a plan is because you are a volunteer firefighter, you may not be covered by the plan. Tax form 1040 year 2008 You are not covered by the plan if both of the following conditions are met. Tax form 1040 year 2008 The plan you participate in is established for its employees by: The United States, A state or political subdivision of a state, or An instrumentality of either (a) or (b) above. Tax form 1040 year 2008 Your accrued retirement benefits at the beginning of the year will not provide more than $1,800 per year at retirement. Tax form 1040 year 2008 Limit If Covered by Employer Plan If either you or your spouse was covered by an employer retirement plan, you may be entitled to only a partial (reduced) deduction or no deduction at all, depending on your income and your filing status. Tax form 1040 year 2008 Your deduction begins to decrease (phase out) when your income rises above a certain amount and is eliminated altogether when it reaches a higher amount. Tax form 1040 year 2008 These amounts vary depending on your filing status. Tax form 1040 year 2008 To determine if your deduction is subject to phaseout, you must determine your modified adjusted gross income (AGI) and your filing status. Tax form 1040 year 2008 See Filing status and Modified adjusted gross income (AGI) , later. Tax form 1040 year 2008 Then use Table 17-1 or 17-2 to determine if the phaseout applies. Tax form 1040 year 2008 Social security recipients. Tax form 1040 year 2008   Instead of using Table 17-1 or Table 17-2, use the worksheets in Appendix B of Publication 590 if, for the year, all of the following apply. Tax form 1040 year 2008 You received social security benefits. Tax form 1040 year 2008 You received taxable compensation. Tax form 1040 year 2008 Contributions were made to your traditional IRA. Tax form 1040 year 2008 You or your spouse was covered by an employer retirement plan. Tax form 1040 year 2008 Use those worksheets to figure your IRA deduction, your nondeductible contribution, and the taxable portion, if any, of your social security benefits. Tax form 1040 year 2008 Deduction phaseout. Tax form 1040 year 2008   If you were covered by an employer retirement plan and you did not receive any social security retirement benefits, your IRA deduction may be reduced or eliminated depending on your filing status and modified AGI as shown in Table 17-1. Tax form 1040 year 2008 Table 17-1. Tax form 1040 year 2008 Effect of Modified AGI1 on Deduction if You Are Covered by Retirement Plan at Work If you are covered by a retirement plan at work, use this table to determine if your modified AGI affects the amount of your deduction. Tax form 1040 year 2008 IF your filing status is. Tax form 1040 year 2008 . Tax form 1040 year 2008 . Tax form 1040 year 2008   AND your modified AGI is. Tax form 1040 year 2008 . Tax form 1040 year 2008 . Tax form 1040 year 2008   THEN you can take. Tax form 1040 year 2008 . Tax form 1040 year 2008 . Tax form 1040 year 2008 single   or  head of household   $59,000 or less   a full deduction. Tax form 1040 year 2008   more than $59,000 but less than $69,000   a partial deduction. Tax form 1040 year 2008   $69,000 or more   no deduction. Tax form 1040 year 2008 married filing jointly   or  qualifying widow(er)   $95,000 or less   a full deduction. Tax form 1040 year 2008   more than $95,000 but less than $115,000   a partial deduction. Tax form 1040 year 2008   $115,000 or more   no deduction. Tax form 1040 year 2008 married filing separately2   less than $10,000   a partial deduction. Tax form 1040 year 2008   $10,000 or more   no deduction. Tax form 1040 year 2008 1Modified AGI (adjusted gross income). Tax form 1040 year 2008 See Modified adjusted gross income (AGI) . Tax form 1040 year 2008 2If you did not live with your spouse at any time during the year, your filing status is considered Single for this purpose (therefore, your IRA deduction is determined under the “Single” column). Tax form 1040 year 2008 If your spouse is covered. Tax form 1040 year 2008   If you are not covered by an employer retirement plan, but your spouse is, and you did not receive any social security benefits, your IRA deduction may be reduced or eliminated entirely depending on your filing status and modified AGI as shown in Table 17-2. Tax form 1040 year 2008 Filing status. Tax form 1040 year 2008   Your filing status depends primarily on your marital status. Tax form 1040 year 2008 For this purpose, you need to know if your filing status is single or head of household, married filing jointly or qualifying widow(er), or married filing separately. Tax form 1040 year 2008 If you need more information on filing status, see chapter 2. Tax form 1040 year 2008 Lived apart from spouse. Tax form 1040 year 2008   If you did not live with your spouse at any time during the year and you file a separate return, your filing status, for this purpose, is single. Tax form 1040 year 2008 Table 17-2. Tax form 1040 year 2008 Effect of Modified AGI1 on Deduction if You Are NOT Covered by Retirement Plan at Work If you are not covered by a retirement plan at work, use this table to determine if your modified AGI affects the amount of your deduction. Tax form 1040 year 2008 IF your filing status is. Tax form 1040 year 2008 . Tax form 1040 year 2008 . Tax form 1040 year 2008   AND your modified AGI is. Tax form 1040 year 2008 . Tax form 1040 year 2008 . Tax form 1040 year 2008   THEN you can take. Tax form 1040 year 2008 . Tax form 1040 year 2008 . Tax form 1040 year 2008 single, head of household, or qualifying widow(er)   any amount   a full deduction. Tax form 1040 year 2008 married filing jointly or separately with a spouse who is not covered by a plan at work   any amount   a full deduction. Tax form 1040 year 2008 married filing jointly with a spouse who is covered by a plan at work   $178,000 or less   a full deduction. Tax form 1040 year 2008   more than $178,000 but less than $188,000   a partial deduction. Tax form 1040 year 2008   $188,000 or more   no deduction. Tax form 1040 year 2008 married filing separately with a spouse who is covered by a plan at work2   less than $10,000   a partial deduction. Tax form 1040 year 2008   $10,000 or more   no deduction. Tax form 1040 year 2008 1Modified AGI (adjusted gross income). Tax form 1040 year 2008 See Modified adjusted gross income (AGI) . Tax form 1040 year 2008 2You are entitled to the full deduction if you did not live with your spouse at any time during the year. Tax form 1040 year 2008 Modified adjusted gross income (AGI). Tax form 1040 year 2008   How you figure your modified AGI depends on whether you are filing Form 1040 or Form 1040A. Tax form 1040 year 2008 If you made contributions to your IRA for 2013 and received a distribution from your IRA in 2013, see Publication 590. Tax form 1040 year 2008 You may be able to use Worksheet 17-1 to figure your modified AGI. Tax form 1040 year 2008    Do not assume that your modified AGI is the same as your compensation. Tax form 1040 year 2008 Your modified AGI may include income in addition to your compensation (discussed earlier), such as interest, dividends, and income from IRA distributions. Tax form 1040 year 2008 Form 1040. Tax form 1040 year 2008   If you file Form 1040, refigure the amount on the page 1 “adjusted gross income” line without taking into account any of the following eight amounts. Tax form 1040 year 2008 IRA deduction. Tax form 1040 year 2008 Student loan interest deduction. Tax form 1040 year 2008 Tuition and fees deduction. Tax form 1040 year 2008 Domestic production activities deduction. Tax form 1040 year 2008 Foreign earned income exclusion. Tax form 1040 year 2008 Foreign housing exclusion or deduction. Tax form 1040 year 2008 Exclusion of qualified savings bond interest shown on Form 8815, Exclusion of Interest From Series EE and I U. Tax form 1040 year 2008 S. Tax form 1040 year 2008 Savings Bonds Issued After 1989. Tax form 1040 year 2008 Exclusion of employer-provided adoption benefits shown on Form 8839, Qualified Adoption Expenses. Tax form 1040 year 2008 This is your modified AGI. Tax form 1040 year 2008 Form 1040A. Tax form 1040 year 2008   If you file Form 1040A, refigure the amount on the page 1 “adjusted gross income” line without taking into account any of the following amounts. Tax form 1040 year 2008 IRA deduction. Tax form 1040 year 2008 Student loan interest deduction. Tax form 1040 year 2008 Tuition and fees deduction. Tax form 1040 year 2008 Exclusion of qualified savings bond interest shown on Form 8815. Tax form 1040 year 2008 This is your modified AGI. Tax form 1040 year 2008 Both contributions for 2013 and distributions in 2013. Tax form 1040 year 2008   If all three of the following apply, any IRA distributions you received in 2013 may be partly tax free and partly taxable. Tax form 1040 year 2008 You received distributions in 2013 from one or more traditional IRAs. Tax form 1040 year 2008 You made contributions to a traditional IRA for 2013. Tax form 1040 year 2008 Some of those contributions may be nondeductible contributions. Tax form 1040 year 2008 If this is your situation, you must figure the taxable part of the traditional IRA distribution before you can figure your modified AGI. Tax form 1040 year 2008 To do this, you can use Worksheet 1-5, Figuring the Taxable Part of Your IRA Distribution, in Publication 590. Tax form 1040 year 2008   If at least one of the above does not apply, figure your modified AGI using Worksheet 17-1, later. Tax form 1040 year 2008    How to figure your reduced IRA deduction. Tax form 1040 year 2008   You can figure your reduced IRA deduction for either Form 1040 or Form 1040A by using the worksheets in chapter 1 of Publication 590. Tax form 1040 year 2008 Also, the instructions for Form 1040 and Form 1040A include similar worksheets that you may be able to use instead. Tax form 1040 year 2008 Worksheet 17-1. Tax form 1040 year 2008 Figuring Your Modified AGI Use this worksheet to figure your modified adjusted gross income for traditional IRA purposes. Tax form 1040 year 2008 1. Tax form 1040 year 2008 Enter your adjusted gross income (AGI) from Form 1040, line 38, or Form 1040A, line 22, figured without taking into account the amount from Form 1040, line 32, or Form 1040A, line 17 1. Tax form 1040 year 2008   2. Tax form 1040 year 2008 Enter any student loan interest deduction from Form 1040, line 33, or Form 1040A, line 18 2. Tax form 1040 year 2008   3. Tax form 1040 year 2008 Enter any tuition and fees deduction from Form 1040, line 34, or Form 1040A, line 19 3. Tax form 1040 year 2008   4. Tax form 1040 year 2008 Enter any domestic production activities deduction from Form 1040, line 35 4. Tax form 1040 year 2008   5. Tax form 1040 year 2008 Enter any foreign earned income and/or housing exclusion from Form 2555, line 45, or Form 2555-EZ, line 18 5. Tax form 1040 year 2008   6. Tax form 1040 year 2008 Enter any foreign housing deduction from Form 2555, line 50 6. Tax form 1040 year 2008   7. Tax form 1040 year 2008 Enter any excludable savings bond interest from Form 8815, line 14 7. Tax form 1040 year 2008   8. Tax form 1040 year 2008 Enter any excluded employer-provided adoption benefits from Form 8839, line 28 8. Tax form 1040 year 2008   9. Tax form 1040 year 2008 Add lines 1 through 8. Tax form 1040 year 2008 This is your Modified AGI for traditional IRA purposes 9. Tax form 1040 year 2008   Reporting Deductible Contributions If you file Form 1040, enter your IRA deduction on line 32 of that form. Tax form 1040 year 2008 If you file Form 1040A, enter your IRA deduction on line 17. Tax form 1040 year 2008 You cannot deduct IRA contributions on Form 1040EZ. Tax form 1040 year 2008 Nondeductible Contributions Although your deduction for IRA contributions may be reduced or eliminated, contributions can be made to your IRA up to the general limit or, if it applies, the Kay Bailey Hutchison Spousal IRA limit. Tax form 1040 year 2008 The difference between your total permitted contributions and your IRA deduction, if any, is your nondeductible contribution. Tax form 1040 year 2008 Example. Tax form 1040 year 2008 Mike is 28 years old and single. Tax form 1040 year 2008 In 2013, he was covered by a retirement plan at work. Tax form 1040 year 2008 His salary was $57,312. Tax form 1040 year 2008 His modified AGI was $70,000. Tax form 1040 year 2008 Mike made a $5,500 IRA contribution for 2013. Tax form 1040 year 2008 Because he was covered by a retirement plan and his modified AGI was over $69,000, he cannot deduct his $5,500 IRA contribution. Tax form 1040 year 2008 He must designate this contribution as a nondeductible contribution by reporting it on Form 8606, as explained next. Tax form 1040 year 2008 Form 8606. Tax form 1040 year 2008   To designate contributions as nondeductible, you must file Form 8606. Tax form 1040 year 2008   You do not have to designate a contribution as nondeductible until you file your tax return. Tax form 1040 year 2008 When you file, you can even designate otherwise deductible contributions as nondeductible. Tax form 1040 year 2008   You must file Form 8606 to report nondeductible contributions even if you do not have to file a tax return for the year. Tax form 1040 year 2008 A Form 8606 is not used for the year that you make a rollover from a qualified retirement plan to a traditional IRA and the rollover includes nontaxable amounts. Tax form 1040 year 2008 In those situations, a Form 8606 is completed for the year you take a distribution from that IRA. Tax form 1040 year 2008 See Form 8606 under Distributions Fully or Partly Taxable, later. Tax form 1040 year 2008 Failure to report nondeductible contributions. Tax form 1040 year 2008   If you do not report nondeductible contributions, all of the contributions to your traditional IRA will be treated as deductible contributions when withdrawn. Tax form 1040 year 2008 All distributions from your IRA will be taxed unless you can show, with satisfactory evidence, that nondeductible contributions were made. Tax form 1040 year 2008 Penalty for overstatement. Tax form 1040 year 2008   If you overstate the amount of nondeductible contributions on your Form 8606 for any tax year, you must pay a penalty of $100 for each overstatement, unless it was due to reasonable cause. Tax form 1040 year 2008 Penalty for failure to file Form 8606. Tax form 1040 year 2008   You will have to pay a $50 penalty if you do not file a required Form 8606, unless you can prove that the failure was due to reasonable cause. Tax form 1040 year 2008    Tax on earnings on nondeductible contributions. Tax form 1040 year 2008   As long as contributions are within the contribution limits, none of the earnings or gains on contributions (deductible or nondeductible) will be taxed until they are distributed. Tax form 1040 year 2008 See When Can You Withdraw or Use IRA Assets , later. Tax form 1040 year 2008 Cost basis. Tax form 1040 year 2008   You will have a cost basis in your traditional IRA if you made any nondeductible contributions. Tax form 1040 year 2008 Your cost basis is the sum of the nondeductible contributions to your IRA minus any withdrawals or distributions of nondeductible contributions. Tax form 1040 year 2008 Inherited IRAs If you inherit a traditional IRA, you are called a beneficiary. Tax form 1040 year 2008 A beneficiary can be any person or entity the owner chooses to receive the benefits of the IRA after he or she dies. Tax form 1040 year 2008 Beneficiaries of a traditional IRA must include in their gross income any taxable distributions they receive. Tax form 1040 year 2008 Inherited from spouse. Tax form 1040 year 2008   If you inherit a traditional IRA from your spouse, you generally have the following three choices. Tax form 1040 year 2008 You can: Treat it as your own IRA by designating yourself as the account owner. Tax form 1040 year 2008 Treat it as your own by rolling it over into your IRA, or to the extent it is taxable, into a: Qualified employer plan, Qualified employee annuity plan (section 403(a) plan), Tax-sheltered annuity plan (section 403(b) plan), or Deferred compensation plan of a state or local government (section 457 plan). Tax form 1040 year 2008 Treat yourself as the beneficiary rather than treating the IRA as your own. Tax form 1040 year 2008 Treating it as your own. Tax form 1040 year 2008   You will be considered to have chosen to treat the IRA as your own if: Contributions (including rollover contributions) are made to the inherited IRA, or You do not take the required minimum distribution for a year as a beneficiary of the IRA. Tax form 1040 year 2008 You will only be considered to have chosen to treat the IRA as your own if: You are the sole beneficiary of the IRA, and You have an unlimited right to withdraw amounts from it. Tax form 1040 year 2008   However, if you receive a distribution from your deceased spouse's IRA, you can roll that distribution over into your own IRA within the 60-day time limit, as long as the distribution is not a required distribution, even if you are not the sole beneficiary of your deceased spouse's IRA. Tax form 1040 year 2008 Inherited from someone other than spouse. Tax form 1040 year 2008   If you inherit a traditional IRA from anyone other than your deceased spouse, you cannot treat the inherited IRA as your own. Tax form 1040 year 2008 This means that you cannot make any contributions to the IRA. Tax form 1040 year 2008 It also means you cannot roll over any amounts into or out of the inherited IRA. Tax form 1040 year 2008 However, you can make a trustee-to-trustee transfer as long as the IRA into which amounts are being moved is set up and maintained in the name of the deceased IRA owner for the benefit of you as beneficiary. Tax form 1040 year 2008 For more information, see the discussion of inherited IRAs under Rollover From One IRA Into Another, later. Tax form 1040 year 2008 Can You Move Retirement Plan Assets? You can transfer, tax free, assets (money or property) from other retirement plans (including traditional IRAs) to a traditional IRA. Tax form 1040 year 2008 You can make the following kinds of transfers. Tax form 1040 year 2008 Transfers from one trustee to another. Tax form 1040 year 2008 Rollovers. Tax form 1040 year 2008 Transfers incident to a divorce. Tax form 1040 year 2008 Transfers to Roth IRAs. Tax form 1040 year 2008   Under certain conditions, you can move assets from a traditional IRA or from a designated Roth account to a Roth IRA. Tax form 1040 year 2008 You can also move assets from a qualified retirement plan to a Roth IRA. Tax form 1040 year 2008 See Can You Move Amounts Into a Roth IRA? under Roth IRAs, later. Tax form 1040 year 2008 Trustee-to-Trustee Transfer A transfer of funds in your traditional IRA from one trustee directly to another, either at your request or at the trustee's request, is not a rollover. Tax form 1040 year 2008 Because there is no distribution to you, the transfer is tax free. Tax form 1040 year 2008 Because it is not a rollover, it is not affected by the 1-year waiting period required between rollovers, discussed later under Rollover From One IRA Into Another . Tax form 1040 year 2008 For information about direct transfers to IRAs from retirement plans other than IRAs, see Can You Move Retirement Plan Assets? in chapter 1 and Can You Move Amounts Into a Roth IRA? in chapter 2 of Publication 590. Tax form 1040 year 2008 Rollovers Generally, a rollover is a tax-free distribution to you of cash or other assets from one retirement plan that you contribute (roll over) to another retirement plan. Tax form 1040 year 2008 The contribution to the second retirement plan is called a “rollover contribution. Tax form 1040 year 2008 ” Note. Tax form 1040 year 2008 An amount rolled over tax free from one retirement plan to another is generally includible in income when it is distributed from the second plan. Tax form 1040 year 2008 Kinds of rollovers to a traditional IRA. Tax form 1040 year 2008   You can roll over amounts from the following plans into a traditional IRA: A traditional IRA, An employer's qualified retirement plan for its employees, A deferred compensation plan of a state or local government (section 457 plan), or A tax-sheltered annuity plan (section 403(b) plan). Tax form 1040 year 2008 Treatment of rollovers. Tax form 1040 year 2008   You cannot deduct a rollover contribution, but you must report the rollover distribution on your tax return as discussed later under Reporting rollovers from IRAs and under Reporting rollovers from employer plans . Tax form 1040 year 2008 Kinds of rollovers from a traditional IRA. Tax form 1040 year 2008   You may be able to roll over, tax free, a distribution from your traditional IRA into a qualified plan. Tax form 1040 year 2008 These plans include the federal Thrift Savings Fund (for federal employees), deferred compensation plans of state or local governments (section 457 plans), and tax-sheltered annuity plans (section 403(b) plans). Tax form 1040 year 2008 The part of the distribution that you can roll over is the part that would otherwise be taxable (includible in your income). Tax form 1040 year 2008 Qualified plans may, but are not required to, accept such rollovers. Tax form 1040 year 2008 Time limit for making a rollover contribution. Tax form 1040 year 2008   You generally must make the rollover contribution by the 60th day after the day you receive the distribution from your traditional IRA or your employer's plan. Tax form 1040 year 2008 The IRS may waive the 60-day requirement where the failure to do so would be against equity or good conscience, such as in the event of a casualty, disaster, or other event beyond your reasonable control. Tax form 1040 year 2008 For more information, see Can You Move Retirement Plan Assets? in chapter 1 of Publication 590. Tax form 1040 year 2008 Extension of rollover period. Tax form 1040 year 2008   If an amount distributed to you from a traditional IRA or a qualified employer retirement plan is a frozen deposit at any time during the 60-day period allowed for a rollover, special rules extend the rollover period. Tax form 1040 year 2008 For more information, see Can You Move Retirement Plan Assets? in chapter 1 of Publication 590. Tax form 1040 year 2008 More information. Tax form 1040 year 2008   For more information on rollovers, see Can You Move Retirement Plan Assets? in chapter 1 of Publication 590. Tax form 1040 year 2008 Rollover From One IRA Into Another You can withdraw, tax free, all or part of the assets from one traditional IRA if you reinvest them within 60 days in the same or another traditional IRA. Tax form 1040 year 2008 Because this is a rollover, you cannot deduct the amount that you reinvest in an IRA. Tax form 1040 year 2008 Waiting period between rollovers. Tax form 1040 year 2008   Generally, if you make a tax-free rollover of any part of a distribution from a traditional IRA, you cannot, within a 1-year period, make a tax-free rollover of any later distribution from that same IRA. Tax form 1040 year 2008 You also cannot make a tax-free rollover of any amount distributed, within the same 1-year period, from the IRA into which you made the tax-free rollover. Tax form 1040 year 2008   The 1-year period begins on the date you receive the IRA distribution, not on the date you roll it over into an IRA. Tax form 1040 year 2008 Example. Tax form 1040 year 2008 You have two traditional IRAs, IRA-1 and IRA-2. Tax form 1040 year 2008 You make a tax-free rollover of a distribution from IRA-1 into a new traditional IRA (IRA-3). Tax form 1040 year 2008 You cannot, within 1 year of the distribution from IRA-1, make a tax-free rollover of any distribution from either IRA-1 or IRA-3 into another traditional IRA. Tax form 1040 year 2008 However, the rollover from IRA-1 into IRA-3 does not prevent you from making a tax-free rollover from IRA-2 into any other traditional IRA. Tax form 1040 year 2008 This is because you have not, within the last year, rolled over, tax free, any distribution from IRA-2 or made a tax-free rollover into IRA-2. Tax form 1040 year 2008 Exception. Tax form 1040 year 2008   For an exception for distributions from failed financial institutions, see Rollover From One IRA Into Another under Can You Move Retirement Plan Assets? in chapter 1 of Publication 590. Tax form 1040 year 2008 Partial rollovers. Tax form 1040 year 2008   If you withdraw assets from a traditional IRA, you can roll over part of the withdrawal tax free and keep the rest of it. Tax form 1040 year 2008 The amount you keep will generally be taxable (except for the part that is a return of nondeductible contributions). Tax form 1040 year 2008 The amount you keep may be subject to the 10% additional tax on early distributions, discussed later under What Acts Result in Penalties or Additional Taxes? . Tax form 1040 year 2008 Required distributions. Tax form 1040 year 2008   Amounts that must be distributed during a particular year under the required distribution rules (discussed later) are not eligible for rollover treatment. Tax form 1040 year 2008 Inherited IRAs. Tax form 1040 year 2008   If you inherit a traditional IRA from your spouse, you generally can roll it over, or you can choose to make the inherited IRA your own. Tax form 1040 year 2008 See Treating it as your own , earlier. Tax form 1040 year 2008 Not inherited from spouse. Tax form 1040 year 2008   If you inherit a traditional IRA from someone other than your spouse, you cannot roll it over or allow it to receive a rollover contribution. Tax form 1040 year 2008 You must withdraw the IRA assets within a certain period. Tax form 1040 year 2008 For more information, see When Must You Withdraw Assets? in chapter 1 of Publication 590. Tax form 1040 year 2008 Reporting rollovers from IRAs. Tax form 1040 year 2008   Report any rollover from one traditional IRA to the same or another traditional IRA on lines 15a and 15b, Form 1040, or lines 11a and 11b, Form 1040A, as follows. Tax form 1040 year 2008   Enter the total amount of the distribution on Form 1040, line 15a, or Form 1040A, line 11a. Tax form 1040 year 2008 If the total amount on Form 1040, line 15a, or Form 1040A, line 11a, was rolled over, enter zero on Form 1040, line 15b, or Form 1040A, line 11b. Tax form 1040 year 2008 If the total distribution was not rolled over, enter the taxable portion of the part that was not rolled over on Form 1040, line 15b, or Form 1040A, line 11b. Tax form 1040 year 2008 Put “Rollover” next to Form 1040, line 15b, or Form 1040A, line 11b. Tax form 1040 year 2008 See your tax return instructions. Tax form 1040 year 2008   If you rolled over the distribution into a qualified plan (other than an IRA) or you make the rollover in 2014, attach a statement explaining what you did. Tax form 1040 year 2008 Rollover From Employer's Plan Into an IRA You can roll over into a traditional 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; Annuity plan; Tax-sheltered annuity plan (section 403(b) plan); or Governmental deferred compensation plan (section 457 plan). Tax form 1040 year 2008 A qualified plan is one that meets the requirements of the Internal Revenue Code. Tax form 1040 year 2008 Eligible rollover distribution. Tax form 1040 year 2008   Generally, an eligible rollover distribution is any distribution of all or part of the balance to your credit in a qualified retirement plan except the following. Tax form 1040 year 2008 A required minimum distribution (explained later under When Must You Withdraw IRA Assets? (Required Minimum Distributions) ). Tax form 1040 year 2008 A hardship distribution. Tax form 1040 year 2008 Any of a series of substantially equal periodic distributions paid at least once a year over: Your lifetime or life expectancy, The lifetimes or life expectancies of you and your beneficiary, or A period of 10 years or more. Tax form 1040 year 2008 Corrective distributions of excess contributions or excess deferrals, and any income allocable to the excess, or of excess annual additions and any allocable gains. Tax form 1040 year 2008 A loan treated as a distribution because it does not satisfy certain requirements either when made or later (such as upon default), unless the participant's accrued benefits are reduced (offset) to repay the loan. Tax form 1040 year 2008 Dividends on employer securities. Tax form 1040 year 2008 The cost of life insurance coverage. Tax form 1040 year 2008 Any nontaxable amounts that you roll over into your traditional IRA become part of your basis (cost) in your IRAs. Tax form 1040 year 2008 To recover your basis when you take distributions from your IRA, you must complete Form 8606 for the year of the distribution. Tax form 1040 year 2008 See Form 8606 under Distributions Fully or Partly Taxable, later. Tax form 1040 year 2008 Rollover by nonspouse beneficiary. Tax form 1040 year 2008   A direct transfer from a deceased employee's qualified pension, profit-sharing, or stock bonus plan; annuity plan; tax-sheltered annuity (section 403(b)) plan; or governmental deferred compensation (section 457) plan to an IRA set up to receive the distribution on your behalf can be treated as an eligible rollover distribution if you are the designated beneficiary of the plan and not the employee's spouse. Tax form 1040 year 2008 The IRA is treated as an inherited IRA. Tax form 1040 year 2008 For more information about inherited IRAs, see Inherited IRAs , earlier. Tax form 1040 year 2008 Reporting rollovers from employer plans. Tax form 1040 year 2008    Enter the total distribution (before income tax or other deductions were withheld) on Form 1040, line 16a, or Form 1040A, line 12a. Tax form 1040 year 2008 This amount should be shown in box 1 of Form 1099-R. Tax form 1040 year 2008 From this amount, subtract any contributions (usually shown in box 5 of Form 1099-R) that were taxable to you when made. Tax form 1040 year 2008 From that result, subtract the amount that was rolled over either directly or within 60 days of receiving the distribution. Tax form 1040 year 2008 Enter the remaining amount, even if zero, on Form 1040, line 16b, or Form 1040A, line 12b. Tax form 1040 year 2008 Also, enter "Rollover" next to Form 1040, line 16b, or Form 1040A, line 12b. Tax form 1040 year 2008 Transfers Incident to Divorce If an interest in a traditional IRA is transferred from your spouse or former spouse to you by a divorce or separate maintenance decree or a written document related to such a decree, the interest in the IRA, starting from the date of the transfer, is treated as your IRA. Tax form 1040 year 2008 The transfer is tax free. Tax form 1040 year 2008 For detailed information, see Can You Move Retirement Plan Assets? in chapter 1 of Publication 590. Tax form 1040 year 2008 Converting From Any Traditional IRA to a Roth IRA Allowable conversions. Tax form 1040 year 2008   You can withdraw all or part of the assets from a traditional IRA and reinvest them (within 60 days) in a Roth IRA. Tax form 1040 year 2008 The amount that you withdraw and timely contribute (convert) to the Roth IRA is called a conversion contribution. Tax form 1040 year 2008 If properly (and timely) rolled over, the 10% additional tax on early distributions will not apply. Tax form 1040 year 2008 However, a part or all of the conversion contribution from your traditional IRA is included in your gross income. Tax form 1040 year 2008 Required distributions. Tax form 1040 year 2008   You cannot convert amounts that must be distributed from your traditional IRA for a particular year (including the calendar year in which you reach age 70½) under the required distribution rules (discussed later). Tax form 1040 year 2008 Income. Tax form 1040 year 2008   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. Tax form 1040 year 2008 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. Tax form 1040 year 2008   You do not include in gross income any part of a distribution from a traditional IRA that is a return of your basis, as discussed later. Tax form 1040 year 2008   You must file Form 8606 to report 2013 conversions from traditional, SEP, or SIMPLE IRAs to a Roth IRA in 2013 (unless you recharacterized the entire amount) and to figure the amount to include in income. Tax form 1040 year 2008   If you must include any amount in your gross income, you may have to increase your withholding or make estimated tax payments. Tax form 1040 year 2008 See chapter 4. Tax form 1040 year 2008 Recharacterizations You may be able to treat a contribution made to one type of IRA as having been made to a different type of IRA. Tax form 1040 year 2008 This is called recharacterizing the contribution. Tax form 1040 year 2008 See Can You Move Retirement Plan Assets? in chapter 1 of Publication 590 for more detailed information. Tax form 1040 year 2008 How to recharacterize a contribution. Tax form 1040 year 2008   To recharacterize a contribution, you generally must have the contribution transferred from the first IRA (the one to which it was made) to the second IRA in a trustee-to-trustee transfer. Tax form 1040 year 2008 If the transfer is made by the due date (including extensions) for your tax return for the year during which the contribution was made, you can elect to treat the contribution as having been originally made to the second IRA instead of to the first IRA. Tax form 1040 year 2008 If you recharacterize your contribution, you must do all three of the following. Tax form 1040 year 2008 Include in the transfer any net income allocable to the contribution. Tax form 1040 year 2008 If there was a loss, the net income you must transfer may be a negative amount. Tax form 1040 year 2008 Report the recharacterization on your tax return for the year during which the contribution was made. Tax form 1040 year 2008 Treat the contribution as having been made to the second IRA on the date that it was actually made to the first IRA. Tax form 1040 year 2008 No deduction allowed. Tax form 1040 year 2008   You cannot deduct the contribution to the first IRA. Tax form 1040 year 2008 Any net income you transfer with the recharacterized contribution is treated as earned in the second IRA. Tax form 1040 year 2008 Required notifications. Tax form 1040 year 2008   To recharacterize a contribution, you must notify both the trustee of the first IRA (the one to which the contribution was actually made) and the trustee of the second IRA (the one to which the contribution is being moved) that you have elected to treat the contribution as having been made to the second IRA rather than the first. Tax form 1040 year 2008 You must make the notifications by the date of the transfer. Tax form 1040 year 2008 Only one notification is required if both IRAs are maintained by the same trustee. Tax form 1040 year 2008 The notification(s) must include all of the following information. Tax form 1040 year 2008 The type and amount of the contribution to the first IRA that is to be recharacterized. Tax form 1040 year 2008 The date on which the contribution was made to the first IRA and the year for which it was made. Tax form 1040 year 2008 A direction to the trustee of the first IRA to transfer in a trustee-to-trustee transfer the amount of the contribution and any net income (or loss) allocable to the contribution to the trustee of the second IRA. Tax form 1040 year 2008 The name of the trustee of the first IRA and the name of the trustee of the second IRA. Tax form 1040 year 2008 Any additional information needed to make the transfer. Tax form 1040 year 2008 Reporting a recharacterization. Tax form 1040 year 2008   If you elect to recharacterize a contribution to one IRA as a contribution to another IRA, you must report the recharacterization on your tax return as directed by Form 8606 and its instructions. Tax form 1040 year 2008 You must treat the contribution as having been made to the second IRA. Tax form 1040 year 2008 When Can You Withdraw or Use IRA Assets? There are rules limiting use of your IRA assets and distributions from it. Tax form 1040 year 2008 Violation of the rules generally results in additional taxes in the year of violation. Tax form 1040 year 2008 See What Acts Result in Penalties or Additional Taxes , later. Tax form 1040 year 2008 Contributions returned before the due date of return. Tax form 1040 year 2008   If you made IRA contributions in 2013, you can withdraw them tax free by the due date of your return. Tax form 1040 year 2008 If you have an extension of time to file your return, you can withdraw them tax free by the extended due date. Tax form 1040 year 2008 You can do this if, for each contribution you withdraw, both of the following conditions apply. Tax form 1040 year 2008 You did not take a deduction for the contribution. Tax form 1040 year 2008 You withdraw any interest or other income earned on the contribution. Tax form 1040 year 2008 You can take into account any loss on the contribution while it was in the IRA when calculating the amount that must be withdrawn. Tax form 1040 year 2008 If there was a loss, the net income earned on the contribution may be a negative amount. Tax form 1040 year 2008 Note. Tax form 1040 year 2008 To calculate the amount you must withdraw, see Worksheet 1-4 under When Can You Withdraw or Use Assets? in chapter 1 of Publication 590. Tax form 1040 year 2008 Earnings includible in income. Tax form 1040 year 2008   You must include in income any earnings on the contributions you withdraw. Tax form 1040 year 2008 Include the earnings in income for the year in which you made the contributions, not in the year in which you withdraw them. Tax form 1040 year 2008 Generally, except for any part of a withdrawal that is a return of nondeductible contributions (basis), any withdrawal of your contributions after the due date (or extended due date) of your return will be treated as a taxable distribution. Tax form 1040 year 2008 Excess contributions can also be recovered tax free as discussed under What Acts Result in Penalties or Additional Taxes?, later. Tax form 1040 year 2008    Early distributions tax. Tax form 1040 year 2008   The 10% additional tax on distributions made before you reach age 59½ does not apply to these tax-free withdrawals of your contributions. Tax form 1040 year 2008 However, the distribution of interest or other income must be reported on Form 5329 and, unless the distribution qualifies as an exception to the age 59½ rule, it will be subject to this tax. Tax form 1040 year 2008 When Must You Withdraw IRA Assets? (Required Minimum Distributions) You cannot keep funds in a traditional IRA indefinitely. Tax form 1040 year 2008 Eventually they must be distributed. Tax form 1040 year 2008 If there are no distributions, or if the distributions are not large enough, you may have to pay a 50% excise tax on the amount not distributed as required. Tax form 1040 year 2008 See Excess Accumulations (Insufficient Distributions) , later. Tax form 1040 year 2008 The requirements for distributing IRA funds differ depending on whether you are the IRA owner or the beneficiary of a decedent's IRA. Tax form 1040 year 2008 Required minimum distribution. Tax form 1040 year 2008   The amount that must be distributed each year is referred to as the required minimum distribution. Tax form 1040 year 2008 Required distributions not eligible for rollover. Tax form 1040 year 2008   Amounts that must be distributed (required minimum distributions) during a particular year are not eligible for rollover treatment. Tax form 1040 year 2008 IRA owners. Tax form 1040 year 2008   If you are the owner of a traditional IRA, you must generally start receiving distributions from your IRA by April 1 of the year following the year in which you reach age 70½. Tax form 1040 year 2008 April 1 of the year following the year in which you reach age 70½ is referred to as the required beginning date. Tax form 1040 year 2008 Distributions by the required beginning date. Tax form 1040 year 2008   You must receive at least a minimum amount for each year starting with the year you reach age 70½ (your 70½ year). Tax form 1040 year 2008 If you do not (or did not) receive that minimum amount in your 70½ year, then you must receive distributions for your 70½ year by April 1 of the next year. Tax form 1040 year 2008   If an IRA owner dies after reaching age 70½, but before April 1 of the next year, no minimum distribution is required because death occurred before the required beginning date. Tax form 1040 year 2008 Even if you begin receiving distributions before you attain age 70½, you must begin calculating and receiving required minimum distributions by your required beginning date. Tax form 1040 year 2008 Distributions after the required beginning date. Tax form 1040 year 2008   The required minimum distribution for any year after the year you turn 70½ must be made by December 31 of that later year. Tax form 1040 year 2008    Beneficiaries. Tax form 1040 year 2008   If you are the beneficiary of a decedent's traditional IRA, the requirements for distributions from that IRA generally depend on whether the IRA owner died before or after the required beginning date for distributions. Tax form 1040 year 2008 More information. Tax form 1040 year 2008   For more information, including how to figure your minimum required distribution each year and how to figure your required distribution if you are a beneficiary of a decedent's IRA, see When Must You Withdraw Assets? in chapter 1 of Publication 590. Tax form 1040 year 2008 Are Distributions Taxable? In general, distributions from a traditional IRA are taxable in the year you receive them. Tax form 1040 year 2008 Exceptions. Tax form 1040 year 2008   Exceptions to distributions from traditional IRAs being taxable in the year you receive them are: Rollovers, Qualified charitable distributions (QCD), discussed later, Tax-free withdrawals of contributions, discussed earlier, and The return of nondeductible contributions, discussed later under Distributions Fully or Partly Taxable . Tax form 1040 year 2008    Although a conversion of a traditional IRA is considered a rollover for Roth IRA purposes, it is not an exception to the rule that distributions from a traditional IRA are taxable in the year you receive them. Tax form 1040 year 2008 Conversion distributions are includible in your gross income subject to this rule and the special rules for conversions explained in Converting From Any Traditional IRA Into a Roth IRA under Can You Move Retirement Plan Assets? in chapter 1 of Publication 590. Tax form 1040 year 2008 Qualified charitable distributions (QCD). Tax form 1040 year 2008   A QCD is generally a nontaxable distribution made directly by the trustee of your IRA to an organization eligible to receive tax-deductible contributions. Tax form 1040 year 2008 Special rules apply if you made a qualified charitable distribution in January 2013 that you elected to treat as made in 2012. Tax form 1040 year 2008 See Qualified Charitable Distributions in Publication 590 for more information. Tax form 1040 year 2008 Ordinary income. Tax form 1040 year 2008   Distributions from traditional IRAs that you include in income are taxed as ordinary income. Tax form 1040 year 2008 No special treatment. Tax form 1040 year 2008   In figuring your tax, you cannot use the 10-year tax option or capital gain treatment that applies to lump-sum distributions from qualified retirement plans. Tax form 1040 year 2008 Distributions Fully or Partly Taxable Distributions from your traditional IRA may be fully or partly taxable, depending on whether your IRA includes any nondeductible contributions. Tax form 1040 year 2008 Fully taxable. Tax form 1040 year 2008   If only deductible contributions were made to your traditional IRA (or IRAs, if you have more than one), you have no basis in your IRA. Tax form 1040 year 2008 Because you have no basis in your IRA, any distributions are fully taxable when received. Tax form 1040 year 2008 See Reporting taxable distributions on your return , later. Tax form 1040 year 2008 Partly taxable. Tax form 1040 year 2008    If you made nondeductible contributions or rolled over any after-tax amounts to any of your traditional IRAs, you have a cost basis (investment in the contract) equal to the amount of those contributions. Tax form 1040 year 2008 These nondeductible contributions are not taxed when they are distributed to you. Tax form 1040 year 2008 They are a return of your investment in your IRA. Tax form 1040 year 2008   Only the part of the distribution that represents nondeductible contributions and rolled over after-tax amounts (your cost basis) is tax free. Tax form 1040 year 2008 If nondeductible contributions have been made or after-tax amounts have been rolled over to your IRA, distributions consist partly of nondeductible contributions (basis) and partly of deductible contributions, earnings, and gains (if there are any). Tax form 1040 year 2008 Until all of your basis has been distributed, each distribution is partly nontaxable and partly taxable. Tax form 1040 year 2008 Form 8606. Tax form 1040 year 2008   You must complete Form 8606 and attach it to your return if you receive a distribution from a traditional IRA and have ever made nondeductible contributions or rolled over after-tax amounts to any of your traditional IRAs. Tax form 1040 year 2008 Using the form, you will figure the nontaxable distributions for 2013 and your total IRA basis for 2013 and earlier years. Tax form 1040 year 2008 Note. Tax form 1040 year 2008 If you are required to file Form 8606, but you are not required to file an income tax return, you still must file Form 8606. Tax form 1040 year 2008 Send it to the IRS at the time and place you would otherwise file an income tax return. Tax form 1040 year 2008 Distributions reported on Form 1099-R. Tax form 1040 year 2008   If you receive a distribution from your traditional IRA, you will receive Form 1099-R, Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. Tax form 1040 year 2008 , or a similar statement. Tax form 1040 year 2008 IRA distributions are shown in boxes 1 and 2a of Form 1099-R. Tax form 1040 year 2008 A number or letter code in box 7 tells you what type of distribution you received from your IRA. Tax form 1040 year 2008 Withholding. Tax form 1040 year 2008   Federal income tax is withheld from distributions from traditional IRAs unless you choose not to have tax withheld. Tax form 1040 year 2008 See chapter 4. Tax form 1040 year 2008 IRA distributions delivered outside the United States. Tax form 1040 year 2008   In general, if you are a U. Tax form 1040 year 2008 S. Tax form 1040 year 2008 citizen or resident alien and your home address is outside the United States or its possessions, you cannot choose exemption from withholding on distributions from your traditional IRA. Tax form 1040 year 2008 Reporting taxable distributions on your return. Tax form 1040 year 2008    Report fully taxable distributions, including early distributions on Form 1040, line 15b, or Form 1040A, line 11b (no entry is required on Form 1040, line 15a, or Form 1040A, line 11a). Tax form 1040 year 2008 If only part of the distribution is taxable, enter the total amount on Form 1040, line 15a, or Form 1040A, line 11a, and the taxable part on Form 1040, line 15b, or Form 1040A, line 11b. Tax form 1040 year 2008 You cannot report distributions on Form 1040EZ. Tax form 1040 year 2008 What Acts Result in Penalties or Additional Taxes? The tax advantages of using traditional IRAs for retirement savings can be offset by additional taxes and penalties if you do not follow the rules. Tax form 1040 year 2008 There are additions to the regular tax for using your IRA funds in prohibited transactions. Tax form 1040 year 2008 There are also additional taxes for the following activities. Tax form 1040 year 2008 Investing in collectibles. Tax form 1040 year 2008 Making excess contributions. Tax form 1040 year 2008 Taking early distributions. Tax form 1040 year 2008 Allowing excess amounts to accumulate (failing to take required distributions). Tax form 1040 year 2008 There are penalties for overstating the amount of nondeductible contributions and for failure to file a Form 8606, if required. Tax form 1040 year 2008 Prohibited Transactions Generally, a prohibited transaction is any improper use of your traditional IRA by you, your beneficiary, or any disqualified person. Tax form 1040 year 2008 Disqualified persons include your fiduciary and members of your family (spouse, ancestor, lineal descendent, and any spouse of a lineal descendent). Tax form 1040 year 2008 The following are examples of prohibited transactions with a traditional IRA. Tax form 1040 year 2008 Borrowing money from it. Tax form 1040 year 2008 Selling property to it. Tax form 1040 year 2008 Receiving unreasonable compensation for managing it. Tax form 1040 year 2008 Using it as security for a loan. Tax form 1040 year 2008 Buying property for personal use (present or future) with IRA funds. Tax form 1040 year 2008 Effect on an IRA account. Tax form 1040 year 2008   Generally, if you or your beneficiary engages in a prohibited transaction in connection with your traditional IRA account at any time during the year, the account stops being an IRA as of the first day of that year. Tax form 1040 year 2008 Effect on you or your beneficiary. Tax form 1040 year 2008   If your account stops being an IRA because you or your beneficiary engaged in a prohibited transaction, the account is treated as distributing all its assets to you at their fair market values on the first day of the year. Tax form 1040 year 2008 If the total of those values is more than your basis in the IRA, you will have a taxable gain that is includible in your income. Tax form 1040 year 2008 For information on figuring your gain and reporting it in income, see Are Distributions Taxable , earlier. Tax form 1040 year 2008 The distribution may be subject to additional taxes or penalties. Tax form 1040 year 2008 Taxes on prohibited transactions. Tax form 1040 year 2008   If someone other than the owner or beneficiary of a traditional IRA engages in a prohibited transaction, that person may be liable for certain taxes. Tax form 1040 year 2008 In general, there is a 15% tax on the amount of the prohibited transaction and a 100% additional tax if the transaction is not corrected. Tax form 1040 year 2008 More information. Tax form 1040 year 2008   For more information on prohibited transactions, see What Acts Result in Penalties or Additional Taxes? in chapter 1 of Publication 590. Tax form 1040 year 2008 Investment in Collectibles If your traditional IRA invests in collectibles, the amount invested is considered distributed to you in the year invested. Tax form 1040 year 2008 You may have to pay the 10% additional tax on early distributions, discussed later. Tax form 1040 year 2008 Collectibles. Tax form 1040 year 2008   These include: Artworks, Rugs, Antiques, Metals, Gems, Stamps, Coins, Alcoholic beverages, and Certain other tangible personal property. Tax form 1040 year 2008 Exception. Tax form 1040 year 2008    Your IRA can invest in one, one-half, one-quarter, or one-tenth ounce U. Tax form 1040 year 2008 S. Tax form 1040 year 2008 gold coins, or one-ounce silver coins minted by the Treasury Department. Tax form 1040 year 2008 It can also invest in certain platinum coins and certain gold, silver, palladium, and platinum bullion. Tax form 1040 year 2008 Excess Contributions Generally, an excess contribution is the amount contributed to your traditional IRA(s) for the year that is more than the smaller of: The maximum deductible amount for the year. Tax form 1040 year 2008 For 2013, this is $5,500 ($6,500 if you are 50 or older), or Your taxable compensation for the year. Tax form 1040 year 2008 Tax on excess contributions. Tax form 1040 year 2008   In general, if the excess contributions for a year are not withdrawn by the date your return for the year is due (including extensions), you are subject to a 6% tax. Tax form 1040 year 2008 You must pay the 6% tax each year on excess amounts that remain in your traditional IRA at the end of your tax year. Tax form 1040 year 2008 The tax cannot be more than 6% of the combined value of all your IRAs as of the end of your tax year. Tax form 1040 year 2008 Excess contributions withdrawn by due date of return. Tax form 1040 year 2008   You will not have to pay the 6% tax if you withdraw an excess contribution made during a tax year and you also withdraw interest or other income earned on the excess contribution. Tax form 1040 year 2008 You must complete your withdrawal by the date your tax return for that year is due, including extensions. Tax form 1040 year 2008 How to treat withdrawn contributions. Tax form 1040 year 2008   Do not include in your gross income an excess contribution that you withdraw from your traditional IRA before your tax return is due if both the following conditions are met. Tax form 1040 year 2008 No deduction was allowed for the excess contribution. Tax form 1040 year 2008 You withdraw the interest or other income earned on the excess contribution. Tax form 1040 year 2008 You can take into account any loss on the contribution while it was in the IRA when calculating the amount that must be withdrawn. Tax form 1040 year 2008 If there was a loss, the net income you must withdraw may be a negative amount. Tax form 1040 year 2008 How to treat withdrawn interest or other income. Tax form 1040 year 2008   You must include in your gross income the interest or other income that was earned on the excess contribution. Tax form 1040 year 2008 Report it on your return for the year in which the excess contribution was made. Tax form 1040 year 2008 Your withdrawal of interest or other income may be subject to an additional 10% tax on early distributions, discus
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Online Ordering for Information Returns and Employer Returns

Online Ordering for Information Returns and Employer Returns

 

Place your order below for information returns and employer products. Your request for products for 2014 will be held until they become available. Please do not reorder these products as they will be automatically shipped and may arrive in multiple shipments.

Specify the quantity needed, by tax year, in the corresponding fill-in space. Quantities are limited to 1,000 each for forms and 25 each for instructions and publications. One copy of the corresponding instruction is automatically included with your order. Some employer forms are printed 2 or 3 to a sheet; order the number of forms needed, not the number of sheets.

File Forms W-2/W-2c and W-3/W-3c electronically by visiting the Social Security Administration's Employer Reporting Instructions and Information website to create and file electronic "fill-in" versions of Forms W-2 and W-3.

Caution: Forms W-2, W-3, 1096, 1097, 1098, 1099, and 5498 Series are non-continuous feed, carbonless, non-laser forms.

Information Returns

Tax Year 2013
Quantity
Tax Year 2014
Quantity
Product Title
Form W-2 Wage and Tax Statement
Form W-3 Transmittal of Wage and Tax Statements
Instruction W-2 & W-3 General Instructions for Forms W-2 and W-3
Form W-2AS American Samoa Wage and Tax Statement
Form W-2G Certain Gambling Winnings
Instruction W-2G & 5754 Instructions for Forms W-2G and 5754
Form W-2GU Guam Wage and Tax Statement
Form W-2VI U.S. Virgin Islands Wage and Tax Statement
Form W-3SS Transmittal of Wage and Tax Statements
Form 1096 Annual Summary and Transmittal of U.S. Information Returns
Form 1097-BTC Bond Tax Credit
Instruction 1097-BTC Instructions for Form 1097-BTC
Form 1098 Mortgage Interest Statement
Instruction 1098 Instructions for Form 1098
Form 1098-C Contributions of Motor Vehicles, Boats, and Airplanes
Instruction 1098-C Instructions for Form 1098-C
Form 1098-E Student Loan Interest Statement
Form 1098-MA Mortgage Assistance Payments
Form 1098-T Tuition Statement
Instruction 1098-E & 1098-T Instructions for Forms 1098-E and 1098-T
Instruction 1099-GENERAL General Instructions for Certain Information Returns (Forms 1097, 1098, 1099, 3921, 3922, 5498, and W-2G)
Form 1099-A Acquisition or Abandonment of Secured Property
Instruction 1099-A & C Instructions for Forms 1099-A and 1099-C
Form 1099-B Proceeds from Broker and Barter Exchange Transactions
Instruction 1099-B Instructions for Form 1099-B
Form 1099-C Cancellation of Debt
Form 1099-CAP Changes in Corporate Control and Capital Structure
Instruction 1099-CAP Instructions for Form 1099-CAP
Form 1099-DIV Dividends and Distributions
Instruction 1099-DIV Instructions for Form 1099-DIV
Form 1099-G Certain Government Payments
Instruction 1099-G Instructions for Form 1099-G
Form 1099-INT Interest Income
Instruction 1099-INT & OID Instructions for Forms 1099-INT and 1099-OID
Form 1099-K Payment Card and Third Party Network Transactions
Instruction 1099-K Instructions for Form 1099-K
Form 1099-LTC Long Term Care and Accelerated Death Benefits
Instruction 1099-LTC Instructions for Form 1099-LTC
Form 1099-MISC Miscellaneous Income
Instruction 1099-MISC Instructions for Form 1099-MISC
Form 1099-OID Original Issue Discount
Form 1099-PATR Taxable Distributions Received From Cooperatives
Instruction 1099-PATR Instructions for Form 1099-PATR
Form 1099-Q Payments From Qualified Education Programs (Under Sections 529 and 530)
Instruction 1099-Q Instructions for Form 1099-Q
Form 1099-R Distributions from Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc.
Instruction 1099-R & 5498 Instructions for Forms 1099-R and 5498
Form 1099-S Proceeds from Real Estate Transactions
Instruction 1099-S Instructions for Form 1099-S
Form 1099-SA Distributions from an HSA, Archer MSA, or Medicare Advantage MSA
Instruction 1099-SA & 5498-SA Instructions for Forms 1099-SA and 5498-SA
Form 5498 IRA Contribution Information
Form 5498-ESA Coverdell ESA Contribution Information
Instruction 5498-ESA Instructions for Form 5498 ESA
Form 5498-SA HSA, Archer MSA, or Medicare Advantage MSA Information

 

Employer Products

Quantity Product Title
Form W-2c Corrected Wage and Tax Statement
Form W-3c Transmittal of Corrected Wage and Tax Statements
Form W-4 Employee's Withholding Allowance Certificate
Form W-4P Withholding Certificate for Pension or Annuity Payments
Form W-4S Request for Federal Income Tax Withholding From Sick Pay
Form W-4(SP) Employee's Withholding Allowance Certificate (Spanish version)
Form W-4V Voluntary Withholding Request
Form 940 Employer's Annual Federal Unemployment (FUTA) Tax Return
Instruction 940 Instructions for Form 940
Form 940 Sch A Multi-State Employer and Credit Reduction Information
Form 941 Employer's QUARTERLY Federal Tax Return
Instruction 941 Instructions for Form 941
Form 941 Sch B Report of Tax Liability for Semiweekly Schedule Depositors
Instruction 941 Sch B Instructions for Schedule B (Form 941)
Form 941 Sch D Report of Discrepancies Caused by Acquisitions, Statutory Mergers, or Consolidations
Instruction 941 Sch D Instructions for Schedule D (Form 941)
Form 941 Sch R Allocation Schedule for Aggregate Form 941 Filers
Form 941-SS Employer's QUARTERLY Federal Tax Return (American Samoa, Guam, the Commonwealth of the Northern Mariana Islands, and the U.S. Virgin Islands)
Instruction 941-SS Instructions for Form 941-SS
Form 941-X Adjusted Employer's QUARTERLY Federal Tax Return or Claim for Refund
Instruction 941-X Instructions for Form 941-X
Form 943 Employer's Annual Federal Tax Return for Agricultural Employees
Instruction 943 Instructions for Form 943
Form 943-A Agricultural Employer's Record of Federal Tax Liability
Form 943-X Adjusted Employer's Annual Federal Tax Return for Agricultural Employees or Claim for Refund
Instruction 943-X Instructions for Form 943-X
Form 944 Employer's ANNUAL Federal Tax Return
Instruction 944 Instructions for Form 944
Form 944-X Adjusted Employer's ANNUAL Federal Tax Return or Claim for Refund
Instruction 944-X Instructions for Form 944-X
Form 945 Annual Return of Withheld Federal Income Tax
Instruction 945 Instructions for Form 945
Form 945-A Annual Record of Federal Tax Liability
Form 945-X Adjusted Annual Return of Withheld Federal Income Tax or Claim for Refund
Instruction 945-X Instructions for Form 945-X
Form 3921 Exercise of an Incentive Stock Option Under Section 422(b)
Form 3922 Transfer of Stock Acquired Through An Employee Stock Purchase Plan Under Section 423(c)
Instruction 3921 & 3922 Instructions for Forms 3921 and 3922
Form 5754 Statement by Person(s) Receiving Gambling Winnings
Publication 15 (Circular E), Employer's Tax Guide
Publication 15-A Employer's Supplemental Tax Guide
Publication 15-B Employer's Tax Guide to Fringe Benefits
Publication 51 (Circular A), Agricultural Employer's Tax Guide
Publication 80 (Circular SS), Federal Tax Guide for Employers in the U.S. Virgin Islands, Guam, American Samoa, and the Commonwealth of the Northern Mariana Islands
Publication 1244 Employee's Daily Record of Tips and Report to Employer
Publication 1494 Tables for Figuring Amount Exempt from Levy on Wages, Salary, and Other Income (Forms 668-W(ACS), 668-W(c)(DO) and 668-W(ICS))

Page Last Reviewed or Updated: 23-Jan-2014

The Tax Form 1040 Year 2008

Tax form 1040 year 2008 Publication 556 - Introductory Material Table of Contents The IRS Mission Reminders IntroductionOrdering forms and publications. Tax form 1040 year 2008 Tax questions. Tax form 1040 year 2008 Useful Items - You may want to see: The IRS Mission Provide America's taxpayers top quality service by helping them understand and meet their tax responsibilities and by applying the tax law with integrity and fairness to all. Tax form 1040 year 2008 Reminders Penalty for filing erroneous claim for refund or credit. Tax form 1040 year 2008  You may have to pay a penalty if you file an erroneous claim for refund or credit. Tax form 1040 year 2008 See Penalty for erroneous claim for refund, later under Claims for Refund. Tax form 1040 year 2008 Interest and penalties suspended if notice not mailed within 36 months. Tax form 1040 year 2008  If you file your return timely (including extensions), interest and certain penalties will be suspended if the IRS does not mail a notice to you within 36 months. Tax form 1040 year 2008 See Suspension of interest and penalties, later under Examination of Returns. Tax form 1040 year 2008 Fast track mediation. Tax form 1040 year 2008  The IRS offers fast track mediation services to help taxpayers resolve many disputes resulting from: Examinations (audits), Offers in compromise, Trust fund recovery penalties, and Other collection actions. Tax form 1040 year 2008 See Fast track mediation under If You Do Not Agree. Tax form 1040 year 2008 Introduction The Internal Revenue Service (IRS) accepts most federal tax returns as filed. Tax form 1040 year 2008 However, the IRS examines (or audits) some returns to determine if income, expenses, and credits are being reported accurately. Tax form 1040 year 2008 If your return is selected for examination, it does not suggest that you made an error or are dishonest. Tax form 1040 year 2008 Returns are chosen by computerized screening, by random sample, or by an income document matching program. Tax form 1040 year 2008 See Examination selection criteria, later. Tax form 1040 year 2008 You should also know that many examinations result in a refund or acceptance of the tax return without change. Tax form 1040 year 2008 This publication discusses general rules and procedures that the IRS follows in examinations. Tax form 1040 year 2008 It explains what happens during an examination and your appeal rights, both within the IRS and in the federal court system. Tax form 1040 year 2008 It also explains how to file a claim for refund of tax you already paid. Tax form 1040 year 2008 As a taxpayer, you have the right to be treated fairly, professionally, promptly, and courteously by IRS employees. Tax form 1040 year 2008 Publication 1, Your Rights as a Taxpayer, explains your rights when dealing with the IRS. Tax form 1040 year 2008 Comments and suggestions. Tax form 1040 year 2008   We welcome your comments about this publication and your suggestions for future editions. Tax form 1040 year 2008   You can write to us at the following address:  Internal Revenue Service Tax Forms and Publications Division 1111 Constitution Ave. Tax form 1040 year 2008 NW, IR-6526 Washington, DC 20224   We respond to many letters by telephone. Tax form 1040 year 2008 Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your correspondence. Tax form 1040 year 2008   You can send your comments from www. Tax form 1040 year 2008 irs. Tax form 1040 year 2008 gov/formspubs/. Tax form 1040 year 2008 Click on “More Information” and then on “Comment on Tax Forms and Publications. Tax form 1040 year 2008 ”   Although we cannot respond individually to each comment received, we do appreciate your feedback and will consider your comments as we revise our tax products. Tax form 1040 year 2008 Ordering forms and publications. Tax form 1040 year 2008   Visit www. Tax form 1040 year 2008 irs. Tax form 1040 year 2008 gov/formspubs to download forms and publications, call 1-800-TAX-FORM (1-800-829-3676), or write to the address below and receive a response within 10 days after your request is received. Tax form 1040 year 2008  Internal Revenue Service  1201 N. Tax form 1040 year 2008 Mitsubishi Motorway Bloomington, IL 61704-6613 Tax questions. Tax form 1040 year 2008   If you have a tax question, check the information available on www. Tax form 1040 year 2008 irs. Tax form 1040 year 2008 gov or call 1-800-829-1040. Tax form 1040 year 2008 We cannot answer tax questions sent to either of the above addresses. Tax form 1040 year 2008 Useful Items - You may want to see: Publication 1 Your Rights as a Taxpayer 5 Your Appeal Rights and How To Prepare a Protest If You Don't Agree 547 Casualties, Disasters, and Thefts 594 The IRS Collection Process 910 Guide to Free Tax Services 971 Innocent Spouse Relief 1546 Taxpayer Advocate Service–Your Voice at the IRS 1660 Collection Appeal Rights 3605 Fast Track Mediation 3920 Tax Relief for Victims of Terrorist Attacks 4134 Low Income Taxpayer Clinic List Form (and Instructions) 843 Claim for Refund and Request for Abatement 911 Request for Taxpayer Advocate Service Assistance (and Application for Taxpayer Assistance Order) 1040X Amended U. Tax form 1040 year 2008 S. Tax form 1040 year 2008 Individual Income Tax Return 2848 Power of Attorney and Declaration of Representative 4506 Request for Copy of Tax Return 4506-T Request for Transcript of Tax Return 8379 Injured Spouse Allocation 8857 Request for Innocent Spouse Relief See How To Get Tax Help , near the end of this publication, for information about getting these publications and forms. Tax form 1040 year 2008 Prev  Up  Next   Home   More Online Publications