File your Taxes for Free!
  • Get your maximum refund*
  • 100% accurate calculations guaranteed*

TurboTax Federal Free Edition - File Taxes Online

Don't let filing your taxes get you down! We'll help make it as easy as possible. With e-file and direct deposit, there's no faster way to get your refund!

Approved TurboTax Affiliate Site. TurboTax and TurboTax Online, among others, are registered trademarks and/or service marks of Intuit Inc. in the United States and other countries. Other parties' trademarks or service marks are the property of the respective owners.


© 2012 - 2018 All rights reserved.

This is an Approved TurboTax Affiliate site. TurboTax and TurboTax Online, among other are registered trademarks and/or service marks of Intuit, Inc. in the United States and other countries. Other parties' trademarks or service marks are the property of the respective owners.
When discussing "Free e-file", note that state e-file is an additional fee. E-file fees do not apply to New York state returns. Prices are subject to change without notice. E-file and get your refund faster
*If you pay an IRS or state penalty or interest because of a TurboTax calculations error, we'll pay you the penalty and interest.
*Maximum Refund Guarantee - or Your Money Back: If you get a larger refund or smaller tax due from another tax preparation method, we'll refund the applicable TurboTax federal and/or state purchase price paid. TurboTax Federal Free Edition customers are entitled to payment of $14.99 and a refund of your state purchase price paid. Claims must be submitted within sixty (60) days of your TurboTax filing date and no later than 6/15/14. E-file, Audit Defense, Professional Review, Refund Transfer and technical support fees are excluded. This guarantee cannot be combined with the TurboTax Satisfaction (Easy) Guarantee. *We're so confident your return will be done right, we guarantee it. Accurate calculations guaranteed. If you pay an IRS or state penalty or interest because of a TurboTax calculations error, we'll pay you the penalty and interest.
https://turbotax.intuit.com/corp/guarantees.jsp

1040 Ez Instructions 2012

Www Myfreetaxes Com Upstreetfreetax2010 Form 1040xFederal Amended Tax Return InstructionsIrs EfileAmend Tax ReturnsWhere To File 2012 Tax Return1040 Ez Free File1040ez FileH&r Block FreeIrs GovIrs 2012 Tax Forms 1040 Ez1040x InstructionsAarp Free Tax PreparationTax Forms Online 2012H&r Block Online Tax ReturnFederal Tax Preparation1040ez InstructionTurbo Tax Amended ReturnAarp Tax AideFree Online State TaxAmended Tax Return Form 2011Free 2012 Tax Filing OnlineFile 2006 Taxes Free1040ez 20121040 Form 2011Turbo Tax 1040nrForm 1040ez 2013Irs Gov Irs FormsIrs 1040x FormAmend Prior Years TaxesStatetaxformsFree Tax EstimatorTurbotax 1040x 2012Irs Tax TablesFree Efile State TaxFiling Back Taxes On TurbotaxFiling Income Tax OnlineHow Do I File An Amended Tax Return For 2013Free Tax Usa 2012Freetaxusa 2010

1040 Ez Instructions 2012

1040 ez instructions 2012 5. 1040 ez instructions 2012   Table and Worksheets for the Self-Employed Table of Contents Community property laws. 1040 ez instructions 2012 As discussed in chapters 2 and 4, if you are self-employed, you must use the rate table or rate worksheet and deduction worksheet to figure your deduction for contributions you made for yourself to a SEP-IRA or qualified plan. 1040 ez instructions 2012 First, use either the rate table or rate worksheet to find your reduced contribution rate. 1040 ez instructions 2012 Then complete the deduction worksheet to figure your deduction for contributions. 1040 ez instructions 2012 The table and the worksheets in chapter 5 apply only to self-employed individuals who have only one defined contribution plan, such as a profit-sharing plan. 1040 ez instructions 2012 A SEP plan is treated as a profit-sharing plan. 1040 ez instructions 2012 However, do not use this worksheet for SARSEPs. 1040 ez instructions 2012 Rate table for self-employed. 1040 ez instructions 2012   If your plan's contribution rate is a whole percentage (for example, 12% rather than 12½%), you can use the table on the next page to find your reduced contribution rate. 1040 ez instructions 2012 Otherwise, use the rate worksheet provided below. 1040 ez instructions 2012   First, find your plan contribution rate (the contribution rate stated in your plan) in Column A of the table. 1040 ez instructions 2012 Then read across to the rate under Column B. 1040 ez instructions 2012 Enter the rate from Column B in step 4 of the Deduction Worksheet for Self-Employed on this page. 1040 ez instructions 2012    Example. 1040 ez instructions 2012 You are a sole proprietor with no employees. 1040 ez instructions 2012 If your plan's contribution rate is 10% of a participant's compensation, your rate is 0. 1040 ez instructions 2012 090909. 1040 ez instructions 2012 Enter this rate in step 4 of the Deduction Worksheet for Self-Employed on this page. 1040 ez instructions 2012 Deduction Worksheet for Self-Employed   Step 1           Enter your net profit from line 31, Schedule C (Form 1040); line 3, Schedule C-EZ (Form 1040); line 34, Schedule F (Form 1040)*; or box 14, code A**, Schedule K-1 (Form 1065)*. 1040 ez instructions 2012 For information on other income included in net profit from self-employment, see the Instructions for Schedule SE, Form 1040. 1040 ez instructions 2012       *Reduce this amount by any amount reported on Schedule SE (Form 1040), line 1b. 1040 ez instructions 2012       **General partners should reduce this amount by the same additional expenses subtracted from box 14, code A to determine the amount on line 1 or 2 of Schedule SE. 1040 ez instructions 2012     Step 2           Enter your deduction for self-employment tax from Form 1040, line 27             Step 3           Net earnings from self-employment. 1040 ez instructions 2012 Subtract step 2 from step 1     Step 4           Enter your rate from the Rate Table for Self-Employed or Rate Worksheet for Self-Employed     Step 5           Multiply step 3 by step 4     Step 6           Multiply $255,000 by your plan contribution rate (not the reduced rate)     Step 7           Enter the smaller of step 5 or step 6     Step 8           Contribution dollar limit $51,000     • If you made any elective deferrals to your self-employed plan, go to step 9. 1040 ez instructions 2012         • Otherwise, skip steps 9 through 20 and enter the smaller of step 7 or step 8 on step 21. 1040 ez instructions 2012       Step 9           Enter your allowable elective deferrals (including designated Roth contributions) made to your self-employed plan during 2013. 1040 ez instructions 2012 Do not enter more than $17,500     Step 10           Subtract step 9 from step 8     Step 11           Subtract step 9 from step 3       Step 12           Enter one-half of step 11     Step 13           Enter the smallest of step 7, 10, or 12     Step 14           Subtract step 13 from step 3     Step 15           Enter the smaller of step 9 or step 14       • If you made catch-up contributions, go to step 16. 1040 ez instructions 2012         • Otherwise, skip steps 16 through 18 and go to step 19. 1040 ez instructions 2012       Step 16           Subtract step 15 from step 14     Step 17           Enter your catch-up contributions (including designated Roth contributions), if any. 1040 ez instructions 2012 Do not enter more than $5,500     Step 18           Enter the smaller of step 16 or step 17     Step 19           Add steps 13, 15, and 18. 1040 ez instructions 2012     Step 20           Enter the amount of designated Roth contributions included on lines 9 and 17. 1040 ez instructions 2012     Step 21           Subtract step 20 from step 19. 1040 ez instructions 2012 This is your maximum deductible contribution. 1040 ez instructions 2012                 Next: Enter your actual contribution, not to exceed your maximum deductible contribution, on Form 1040, line 28. 1040 ez instructions 2012   Rate worksheet for self-employed. 1040 ez instructions 2012   If your plan's contribution rate is not a whole percentage (for example, 10½%), you cannot use the Rate Table for Self-Employed. 1040 ez instructions 2012 Use the following worksheet instead. 1040 ez instructions 2012 Rate Worksheet for Self-Employed 1) Plan contribution rate as a decimal (for example, 10½% = 0. 1040 ez instructions 2012 105)   2) Rate in line 1 plus 1 (for example, 0. 1040 ez instructions 2012 105 + 1 = 1. 1040 ez instructions 2012 105)   3) Self-employed rate as a decimal rounded to at least 3 decimal places (line 1 ÷ line 2) (for example, 0. 1040 ez instructions 2012 105 ÷ 1. 1040 ez instructions 2012 105 = 0. 1040 ez instructions 2012 095)   Figuring your deduction. 1040 ez instructions 2012   Now that you have your self-employed rate from either the rate table or rate worksheet, you can figure your maximum deduction for contributions for yourself by completing the Deduction Worksheet for Self-Employed. 1040 ez instructions 2012 Community property laws. 1040 ez instructions 2012   If you reside in a community property state and you are married and filing a separate return, disregard community property laws for step 1 of the Deduction Worksheet for Self-Employed. 1040 ez instructions 2012 Enter on step 1 the total net profit you actually earned. 1040 ez instructions 2012 Rate Table for Self-Employed Column A  If the plan contri- bution rate is: (shown as %) Column B  Your rate is: (shown as decimal) 1 . 1040 ez instructions 2012 009901 2 . 1040 ez instructions 2012 019608 3 . 1040 ez instructions 2012 029126 4 . 1040 ez instructions 2012 038462 5 . 1040 ez instructions 2012 047619 6 . 1040 ez instructions 2012 056604 7 . 1040 ez instructions 2012 065421 8 . 1040 ez instructions 2012 074074 9 . 1040 ez instructions 2012 082569 10 . 1040 ez instructions 2012 090909 11 . 1040 ez instructions 2012 099099 12 . 1040 ez instructions 2012 107143 13 . 1040 ez instructions 2012 115044 14 . 1040 ez instructions 2012 122807 15 . 1040 ez instructions 2012 130435 16 . 1040 ez instructions 2012 137931 17 . 1040 ez instructions 2012 145299 18 . 1040 ez instructions 2012 152542 19 . 1040 ez instructions 2012 159664 20 . 1040 ez instructions 2012 166667 21 . 1040 ez instructions 2012 173554 22 . 1040 ez instructions 2012 180328 23 . 1040 ez instructions 2012 186992 24 . 1040 ez instructions 2012 193548 25* . 1040 ez instructions 2012 200000* *The deduction for annual employer contributions (other than elective deferrals) to a SEP plan, a profit-sharing plan, or a money purchase plan cannot be more than 20% of your net earnings (figured without deducting contributions for yourself) from the business that has the plan. 1040 ez instructions 2012 Example. 1040 ez instructions 2012 You are a sole proprietor with no employees. 1040 ez instructions 2012 The terms of your plan provide that you contribute 8½% (. 1040 ez instructions 2012 085) of your compensation to your plan. 1040 ez instructions 2012 Your net profit from line 31, Schedule C (Form 1040) is $200,000. 1040 ez instructions 2012 You have no elective deferrals or catch-up contributions. 1040 ez instructions 2012 Your self-employment tax deduction on line 27 of Form 1040 is $9,728. 1040 ez instructions 2012 See the filled-in portions of both Schedule SE (Form 1040), Self-Employment Income, and Form 1040, later. 1040 ez instructions 2012 You figure your self-employed rate and maximum deduction for employer contributions you made for yourself as follows. 1040 ez instructions 2012 Deduction Worksheet for Self-Employed   Step 1           Enter your net profit from line 31, Schedule C (Form 1040); line 3, Schedule C-EZ (Form 1040); line 34, Schedule F (Form 1040)*; or box 14, code A**, Schedule K-1 (Form 1065)*. 1040 ez instructions 2012 For information on other income included in net profit from self-employment, see the Instructions for Schedule SE, Form 1040. 1040 ez instructions 2012 $200,000     *Reduce this amount by any amount reported on Schedule SE (Form 1040), line 1b. 1040 ez instructions 2012       **General partners should reduce this amount by the same additional expenses subtracted from box 14, code A to determine the amount on line 1 or 2 of Schedule SE. 1040 ez instructions 2012     Step 2           Enter your deduction for self-employment tax from Form 1040, line 27 9,728           Step 3           Net earnings from self-employment. 1040 ez instructions 2012 Subtract step 2 from step 1 190,272   Step 4           Enter your rate from the Rate Table for Self-Employed or Rate Worksheet for Self-Employed 0. 1040 ez instructions 2012 078   Step 5           Multiply step 3 by step 4 14,841   Step 6           Multiply $255,000 by your plan contribution rate (not the reduced rate) 21,675   Step 7           Enter the smaller of step 5 or step 6 14,841   Step 8           Contribution dollar limit $51,000     • If you made any elective deferrals to your self-employed plan, go to step 9. 1040 ez instructions 2012         • Otherwise, skip steps 9 through 20 and enter the smaller of step 7 or step 8 on step 21. 1040 ez instructions 2012       Step 9           Enter your allowable elective deferrals (including designated Roth contributions) made to your self-employed plan during 2013. 1040 ez instructions 2012 Do not enter more than $17,500 N/A   Step 10           Subtract step 9 from step 8     Step 11           Subtract step 9 from step 3       Step 12           Enter one-half of step 11     Step 13           Enter the smallest of step 7, 10, or 12     Step 14           Subtract step 13 from step 3     Step 15           Enter the smaller of step 9 or step 14       • If you made catch-up contributions, go to step 16. 1040 ez instructions 2012         • Otherwise, skip steps 16 through 18 and go to step 19. 1040 ez instructions 2012       Step 16           Subtract step 15 from step 14     Step 17           Enter your catch-up contributions (including designated Roth contributions), if any. 1040 ez instructions 2012 Do not enter more than $5,500     Step 18           Enter the smaller of step 16 or step 17     Step 19           Add steps 13, 15, and 18. 1040 ez instructions 2012     Step 20           Enter the amount of designated Roth contributions included on lines 9 and 17     Step 21           Subtract step 20 from step 19. 1040 ez instructions 2012 This is your maximum deductible contribution $14,841                 Next: Enter your actual contribution, not to exceed your maximum deductible contribution, on Form 1040, line 28. 1040 ez instructions 2012   See the filled-in Deduction Worksheet for Self-Employed on this page. 1040 ez instructions 2012 Rate Worksheet for Self-Employed 1) Plan contribution rate as a decimal (for example, 10½% = 0. 1040 ez instructions 2012 105) 0. 1040 ez instructions 2012 085 2) Rate in line 1 plus 1 (for example, 0. 1040 ez instructions 2012 105 + 1 = 1. 1040 ez instructions 2012 105) 1. 1040 ez instructions 2012 085 3) Self-employed rate as a decimal rounded to at least 3 decimal places (line 1 ÷ line 2) (for example, 0. 1040 ez instructions 2012 105 ÷ 1. 1040 ez instructions 2012 105 = 0. 1040 ez instructions 2012 095) 0. 1040 ez instructions 2012 078 This image is too large to be displayed in the current screen. 1040 ez instructions 2012 Please click the link to view the image. 1040 ez instructions 2012 Portion of Form 1040 and Portion of Schedule SE Prev  Up  Next   Home   More Online Publications
Español

Get It Done Online!

Find U.S. government services that you can access from your computer.

Browse online services by topic.



A

B

C

D

E

F

G

H

I

J

L

M

N

O

P

R

S

T

U

V

W

Z

The 1040 Ez Instructions 2012

1040 ez instructions 2012 Publication 504 - Additional Material Prev  Up  Next   Home   More Online Publications