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1040 a Publication 554 - Introductory Material Table of Contents What's New Reminders IntroductionVolunteer Income Tax Assistance and Tax Counseling for the Elderly. 1040 a Ordering forms and publications. 1040 a Tax questions. 1040 a What's New Alternative minimum tax exemption increased. 1040 a The AMT exemption amount has increased to $51,900 ($80,800 if married filing jointly or qualifying widow(er); $40,400 if married filing separately). 1040 a Earned income credit. 1040 a The maximum amount of income you can earn and still get the credit has increased. 1040 a You may be able to take the credit if you earn less than: $14,340 ($19,680 if married filing jointly), do not have a qualifying child, and are at least 25 years old and under 65, $37,870 ($43,210 if married filing jointly), and you have one qualifying child, $43,038 ($48,378 if married filing jointly), and you have two qualifying children, or $46,227 ($51,567 if married filing jointly), and you have three or more qualifying children. 1040 a For more information, see Earned Income Credit , later. 1040 a Exemption phaseout. 1040 a You lose at least part of the benefit of your exemptions if your adjusted gross income is above a certain amount. 1040 a For 2013, the phaseout begins at $150,000 for married individuals filing separate returns; $250,000 for single individuals; $275,000 for heads of household; and $300,000 for married individuals filing joint returns or qualifying widow(er)s. 1040 a For more information, see Phaseout of Exemptions in Publication 501. 1040 a Limit on itemized deductions. 1040 a Beginning January 1, 2013, itemized deductions for taxpayers with adjusted gross incomes above $150,000 may be reduced. 1040 a See Overall limitation , later. 1040 a Medical and dental expenses. 1040 a Beginning January 1, 2013, taxpayers 65 and older can deduct only the part of their medical and dental expenses that exceed 7. 1040 a 5% of their adjusted gross income (10% for taxpayers under 65). 1040 a Same-sex marriages. 1040 a If you have a same-sex spouse whom you legally married in a state (or foreign country) that recognizes same-sex marriage, you and your spouse generally must use the married filing jointly or married filing separately filing status on your 2013 return, even if you and your spouse now live in a state (or foreign country) that does not recognize same-sex marriage. 1040 a For more information, see Publication 501. 1040 a Reminders Future developments. 1040 a For the latest information about developments related to Publication 554, such as legislation enacted after it was published, go to www. 1040 a irs. 1040 a gov/pub554. 1040 a Tax return preparers. 1040 a Choose your preparer carefully. 1040 a If you pay someone to prepare your return, the preparer is required, under the law, to sign the return and fill in the other blanks in the Paid Preparer's area of your return. 1040 a Remember, however, that you are still responsible for the accuracy of every item entered on your return. 1040 a If there is any underpayment, you are responsible for paying it, plus any interest and penalty that may be due. 1040 a Sale of home by surviving spouse. 1040 a If you are an unmarried widow or widower, you may qualify to exclude up to $500,000 of any gain from the sale or exchange of your main home. 1040 a For more information, see Sale of Home , later. 1040 a Third party designee. 1040 a You can check the “Yes” box in the Third Party Designee area of your return to authorize the IRS to discuss your return with your preparer, a friend, family member, or any other person you choose. 1040 a This allows the IRS to call the person you identified as your designee to answer any questions that may arise during the processing of your return. 1040 a It also allows your designee to perform certain actions. 1040 a See your income tax return instructions for details. 1040 a Employment tax withholding. 1040 a Your wages are subject to withholding for income tax, social security tax, and Medicare tax even if you are receiving social security benefits. 1040 a Photographs of missing children. 1040 a The Internal Revenue Service is a proud partner with the National Center for Missing and Exploited Children. 1040 a Photographs of missing children selected by the Center may appear in this publication on pages that would otherwise be blank. 1040 a You can help bring these children home by looking at the photographs and calling 1-800-THE-LOST (1-800-843-5678) if you recognize a child. 1040 a Introduction The purpose of this publication is to provide a general overview of selected topics that are of interest to older taxpayers. 1040 a The publication will help you determine if you need to file a return and, if so, what items to report on your return. 1040 a Each topic is discussed only briefly, so you will find references to other free IRS publications that provide more detail on these topics if you need it. 1040 a Table I has a list of questions you may have about filing your federal tax return. 1040 a To the right of each question is the location of the answer in this publication. 1040 a Also, at the back of this publication there is an index to help you search for the topic you need. 1040 a While most federal income tax laws apply equally to all taxpayers, regardless of age, there are some provisions that give special treatment to older taxpayers. 1040 a The following are some examples. 1040 a Higher gross income threshold for filing. 1040 a You must be age 65 or older at the end of the year to get this benefit. 1040 a You are considered age 65 on the day before your 65th birthday. 1040 a Therefore, you are considered age 65 at the end of the year if your 65th birthday is on or before January 1 of the following year. 1040 a Higher standard deduction. 1040 a If you do not itemize deductions, you are entitled to a higher standard deduction if you are age 65 or older at the end of the year. 1040 a You are considered age 65 at the end of the year if your 65th birthday is on or before January 1 of the following year. 1040 a Credit for the elderly or the disabled. 1040 a If you qualify, you may benefit from the credit for the elderly or the disabled. 1040 a To determine if you qualify and how to figure this credit, see Credit for the Elderly or the Disabled , later. 1040 a Return preparation assistance. 1040 a The IRS wants to make it easier for you to file your federal tax return. 1040 a You may find it helpful to visit a Volunteer Income Tax Assistance (VITA), Tax Counseling for the Elderly (TCE), or American Association of Retired Persons (AARP) Tax-Aide site near you. 1040 a Volunteer Income Tax Assistance and Tax Counseling for the Elderly. 1040 a These programs provide free help for low-income taxpayers and taxpayers age 60 or older to fill in and file their returns. 1040 a For the VITA/TCE site nearest you, contact your local IRS office. 1040 a For more information, see Free help with your tax return under How To Get Tax Help. 1040 a For the location of an AARP Tax-Aide site in your community, call 1-888-227-7669. 1040 a When asked, be ready to press in or speak your 5-digit ZIP code. 1040 a Or, you can visit their website on the Internet at www. 1040 a aarp. 1040 a org/money/taxaide. 1040 a Comments and suggestions. 1040 a We welcome your comments about this publication and your suggestions for future editions. 1040 a You can write to us at the following address: Internal Revenue Service Tax Forms and Publications Division 1111 Constitution Ave. 1040 a NW, IR-6526 Washington, DC 20224 We respond to many letters by telephone. 1040 a Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your correspondence. 1040 a You can send your comments from www. 1040 a irs. 1040 a gov/formspubs/. 1040 a Click on “More Information” and then on “Comment on Tax Forms and Publications. 1040 a ” 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. 1040 a Ordering forms and publications. 1040 a Visit www. 1040 a irs. 1040 a 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 business days after your request is received. 1040 a Internal Revenue Service 1201 N. 1040 a Mitsubishi Motorway Bloomington, IL 61705-6613 Tax questions. 1040 a If you have a tax question, check the information available on IRS. 1040 a gov or call 1-800-829-1040. 1040 a We cannot answer tax questions sent to either of the above addresses. 1040 a Table I. 1040 a What You Should Know About Federal Taxes Note. 1040 a The following is a list of questions you may have about filling out your federal income tax return. 1040 a To the right of each question is the location of the answer in this publication. 1040 a What I Should Know Where To Find the Answer Do I need to file a return? See chapter 1. 1040 a Is my income taxable or nontaxable? If it is nontaxable, must I still report it? See chapter 2. 1040 a How do I report benefits I received from the Social Security Administration or the Railroad Retirement Board? Are these benefits taxable? See Social Security and Equivalent Railroad Retirement Benefits in chapter 2. 1040 a Must I report the sale of my home? If I had a gain, is any part of it taxable? See Sale of Home in chapter 2. 1040 a What are some of the items that I can deduct to reduce my income? See chapters 3 and 4. 1040 a How do I report the amounts I set aside for my IRA? See Individual Retirement Arrangement (IRA) Contributions and Deductions in chapter 3. 1040 a Would it be better for me to claim the standard deduction or itemize my deductions? See chapter 4. 1040 a What are some of the credits I can claim to reduce my tax? See chapter 5 for discussions on the credit for the elderly or the disabled, the child and dependent care credit, and the earned income credit. 1040 a Must I make estimated tax payments? See chapter 6. 1040 a How do I contact the IRS or get more information? See chapter 7. 1040 a Prev Up Next Home More Online Publications
Publication 17, Your Federal Income Tax
This publication covers the general rules for filing a federal income tax return. It supplements the information contained in your tax form instruction booklet. It explains the tax law to make sure you pay only the tax you owe and no more.
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Comment on Publication 17
Use the Comment on Tax Forms and Publications web form to provide feedback on the content of this product. Although we cannot respond individually to each comment, we do appreciate your feedback and will consider all comments submitted.
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Page Last Reviewed or Updated: 28-Jan-2014
The 1040 A
1040 a Index A Adjusted basis for installment sale, Adjusted basis for installment sale purposes. 1040 a Assistance (see Tax help) B Basis Adjusted, Adjusted basis. 1040 a Assumed mortgage, Buyer Assumes Mortgage Installment obligation, Basis. 1040 a , Basis in installment obligation. 1040 a , Basis in installment obligation. 1040 a Installment sale, Adjusted basis for installment sale purposes. 1040 a Repossessed property, Basis in repossessed property. 1040 a , Basis. 1040 a Bond, Bond. 1040 a Buyer's note, Buyer's note. 1040 a C Contingent payment sale, Contingent Payment Sale Contract price, Contract price. 1040 a D Dealer sales, special rule, Dealer sales. 1040 a Depreciation recapture income, Depreciation Recapture Income Disposition of installment obligation, Disposition of an Installment Obligation E Electing out, Electing Out of the Installment Method Escrow account, Escrow Account F Fair market value, Fair market value (FMV). 1040 a , Fair market value (FMV). 1040 a Figuring installment sale income, Figuring Installment Sale Income Form 4797, Form 4797, Form 4797. 1040 a 6252, Form 6252, Reporting an Installment Sale 8594, Reporting requirement. 1040 a Schedule D (Form 1040), Schedule D (Form 1040), Other forms. 1040 a , Schedule D (Form 1040). 1040 a Free tax services, Free help with your tax return. 1040 a G Gross profit percentage, Gross profit percentage. 1040 a Gross profit, defined, Gross profit. 1040 a Guarantee, Debt not payable on demand. 1040 a H Help (see Tax help) I Installment obligation Defined, Installment obligation. 1040 a Disposition, Disposition of an Installment Obligation Used as security, Installment Obligation Used as Security (Pledge Rule) Installment Sale, What Is an Installment Sale? Interest Escrow account, Escrow Account Income, Interest Income Reporting, Seller-financed mortgage. 1040 a Unstated, Installment income after 2013. 1040 a Interest on deferred tax, Interest on Deferred Tax Exceptions, Exceptions. 1040 a L Like-kind exchange, Like-Kind Exchange N Note Buyer's, Buyer's note. 1040 a Third-party, Third-party note. 1040 a O Original issue discount, Installment income after 2013. 1040 a P Payments considered received, Payments Received or Considered Received Buyer assumes debts, Buyer Assumes Other Debts Buyer pays seller's expenses, Buyer Pays Seller's Expenses Mortgage assumed, Buyer Assumes Mortgage Pledge rule, Installment Obligation Used as Security (Pledge Rule) Payments received, Payments Received or Considered Received Pledge rule, Installment Obligation Used as Security (Pledge Rule) Publications (see Tax help) R Related person Land sale, Land transfers between related persons. 1040 a Reporting sale to, Related person. 1040 a Sale to, Sale to a Related Person Reporting installment sale, Reporting Installment Sale Income, Reporting an Installment Sale Repossession, Repossession Holding period for resale, Holding period for resales. 1040 a Personal property, Personal Property Real property, Real Property S Sale at a loss, Sale at a loss. 1040 a Sale of Business, Sale of a Business Home, Sale of Your Home Land between related persons, Land transfers between related persons. 1040 a Partnership interest, Sale of Partnership Interest Several assets, Single Sale of Several Assets, Several assets. 1040 a Stock or securities, Stock or securities. 1040 a Sales by dealers, Dealer sales. 1040 a Section 1274, Section 1274 Exceptions, Exceptions to Sections 1274 and 483 Section 483, Section 483 Exceptions, Exceptions to Sections 1274 and 483 Selling expenses, Selling expenses. 1040 a Selling price Defined, Selling price. 1040 a Reduced, Selling Price Reduced Single sale of several assets, Single Sale of Several Assets, Several assets. 1040 a T Tax help, How To Get Tax Help Third-party note, Third-party note. 1040 a TTY/TDD information, How To Get Tax Help U Unstated interest, Installment income after 2013. 1040 a Prev Up Home More Online Publications