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

1040a Instruction Book

Filing Taxes 2014File Taxes Online Free H&r BlockVita Tax2012 Free Taxes OnlineTax Form EzTax Forms For 2010Free Tax Calculator 2011How To Amend Last Year's Tax ReturnWww Myfreetaxes Com UpstreetfreetaxIrs Form 4868Www Hr Block1040 Tax Form WorksheetOnline 1040xH&r Block Taxcut 20111040a 2012How To Do An Amended Tax ReturnHelp Amending Tax ReturnTax FilingHr Block Free TaxState Tax Forms 2012What If I Didn T File Taxes In 2011Amending Taxes OnlineH And R Block OnlineFree Tax Filing 2012 State And Federal2010 Tax Software Free DownloadAmended Tax Return OnlineH&r Block Tax SoftwareFree 1040 Ez FormFree Turbotax 2011 DownloadFile 2011 Taxes Online TurbotaxTaxes 2006File LateFile 2007 Taxes Online Free1040ez Tax Form 2013Can I Efile My State Taxes For FreeHow Far Back Can I Amend A Tax Return1040eztaxformFree State Tax Software1040ez For 20122008 Amended Tax Return Instructions

1040a Instruction Book

1040a instruction book 3. 1040a instruction book   Gifts Table of Contents If you give gifts in the course of your trade or business, you can deduct all or part of the cost. 1040a instruction book This chapter explains the limits and rules for deducting the costs of gifts. 1040a instruction book $25 limit. 1040a instruction book   You can deduct no more than $25 for business gifts you give directly or indirectly to each person during your tax year. 1040a instruction book A gift to a company that is intended for the eventual personal use or benefit of a particular person or a limited class of people will be considered an indirect gift to that particular person or to the individuals within that class of people who receive the gift. 1040a instruction book   If you give a gift to a member of a customer's family, the gift is generally considered to be an indirect gift to the customer. 1040a instruction book This rule does not apply if you have a bona fide, independent business connection with that family member and the gift is not intended for the customer's eventual use. 1040a instruction book   If you and your spouse both give gifts, both of you are treated as one taxpayer. 1040a instruction book It does not matter whether you have separate businesses, are separately employed, or whether each of you has an independent connection with the recipient. 1040a instruction book If a partnership gives gifts, the partnership and the partners are treated as one taxpayer. 1040a instruction book Example. 1040a instruction book Bob Jones sells products to Local Company. 1040a instruction book He and his wife, Jan, gave Local Company three gourmet gift baskets to thank them for their business. 1040a instruction book They paid $80 for each gift basket, or $240 total. 1040a instruction book Three of Local Company's executives took the gift baskets home for their families' use. 1040a instruction book Bob and Jan have no independent business relationship with any of the executives' other family members. 1040a instruction book They can deduct a total of $75 ($25 limit × 3) for the gift baskets. 1040a instruction book Incidental costs. 1040a instruction book   Incidental costs, such as engraving on jewelry, or packaging, insuring, and mailing, are generally not included in determining the cost of a gift for purposes of the $25 limit. 1040a instruction book   A cost is incidental only if it does not add substantial value to the gift. 1040a instruction book For example, the cost of gift wrapping is an incidental cost. 1040a instruction book However, the purchase of an ornamental basket for packaging fruit is not an incidental cost if the value of the basket is substantial compared to the value of the fruit. 1040a instruction book Exceptions. 1040a instruction book   The following items are not considered gifts for purposes of the $25 limit. 1040a instruction book An item that costs $4 or less and: Has your name clearly and permanently imprinted on the gift, and Is one of a number of identical items you widely distribute. 1040a instruction book Examples include pens, desk sets, and plastic bags and cases. 1040a instruction book Signs, display racks, or other promotional material to be used on the business premises of the recipient. 1040a instruction book    Figure B. 1040a instruction book When Are Transportation Expenses Deductible? Most employees and self-employed persons can use this chart. 1040a instruction book (Do not use this chart if your home is your principal place of business. 1040a instruction book See Office in the home . 1040a instruction book ) Please click here for the text description of the image. 1040a instruction book Figure B. 1040a instruction book When Are Local Transportation Expenses Deductible?TAs for Figure B are: Reg 1. 1040a instruction book 162-1(a); RR 55–109; RR 94–47 Gift or entertainment. 1040a instruction book   Any item that might be considered either a gift or entertainment generally will be considered entertainment. 1040a instruction book However, if you give a customer packaged food or beverages you intend the customer to use at a later date, treat it as a gift. 1040a instruction book    If you give a customer tickets to a theater performance or sporting event and you do not go with the customer to the performance or event, you have a choice. 1040a instruction book You can treat the cost of the tickets as either a gift expense or an entertainment expense, whichever is to your advantage. 1040a instruction book   You can change your treatment of the tickets at a later date by filing an amended return. 1040a instruction book Generally, an amended return must be filed within 3 years from the date the original return was filed or within 2 years from the time the tax was paid, whichever is later. 1040a instruction book    If you go with the customer to the event, you must treat the cost of the tickets as an entertainment expense. 1040a instruction book You cannot choose, in this case, to treat the cost of the tickets as a gift expense. 1040a instruction book Prev  Up  Next   Home   More Online Publications
Print - Click this link to Print this page

Access to Privacy Impact Assessments

Privacy Impact Assessments are performed on computer systems and applications in order to evaluate any risks these systems may pose to personally identifiable information. To view a PIA and/or to print one using your browser, go to our Privacy Impact Assessments site. If you prefer to receive a paper copy, you may send a request to: 

Director, Office of Privacy, Information Protection & Data Security
Internal Revenue Service
Room 7050  OS:P
1111 Constitution Ave. NW
Washington, DC 20224

Return to Privacy Policy page
Page Last Reviewed or Updated: 21-Mar-2014

The 1040a Instruction Book

1040a instruction book 8. 1040a instruction book   Distributions and Rollovers Table of Contents DistributionsMinimum Required Distributions No Special 10-Year Tax Option Transfer of Interest in 403(b) ContractAfter-tax contributions. 1040a instruction book Permissive service credit. 1040a instruction book Tax-Free RolloversHardship exception to rollover rules. 1040a instruction book Eligible retirement plans. 1040a instruction book Nonqualifying distributions. 1040a instruction book Second rollover. 1040a instruction book Gift Tax Distributions Permissible distributions. 1040a instruction book   Generally, a distribution cannot be made from a 403(b) account until the employee: Reaches age 59½, Has a severance from employment, Dies, Becomes disabled, In the case of elective deferrals, encounters financial hardship, or Has a qualified reservist distribution. 1040a instruction book In most cases, the payments you receive or that are made available to you under your 403(b) account are taxable in full as ordinary income. 1040a instruction book In general, the same tax rules apply to distributions from 403(b) plans that apply to distributions from other retirement plans. 1040a instruction book These rules are explained in Publication 575. 1040a instruction book Publication 575 also discusses the additional tax on early distributions from retirement plans. 1040a instruction book Retired public safety officers. 1040a instruction book   If you are an eligible retired public safety officer, distributions of up to $3,000, made directly from your 403(b) plan to pay accident, health, or long-term care insurance, are not included in your taxable income. 1040a instruction book The premiums can be for you, your spouse, or your dependents. 1040a instruction book   A public safety officer is a law enforcement officer, fire fighter, chaplain, or member of a rescue squad or ambulance crew. 1040a instruction book   For additional information, see Publication 575. 1040a instruction book Distribution for active reservist. 1040a instruction book   The 10% penalty for early withdrawals will not apply to a qualified reservist distribution attributable to elective deferrals from a 403(b) plan. 1040a instruction book A qualified reservist distribution is a distribution that is made: To an individual who is a reservist or national guardsman and who was ordered or called to active duty for a period in excess of 179 days or for an indefinite period; and During the period beginning on the date of the order or call to duty and ending at the close of the active duty period. 1040a instruction book Minimum Required Distributions You must receive all, or at least a certain minimum, of your interest accruing after 1986 in the 403(b) plan by April 1 of the calendar year following the later of the calendar year in which you become age 70½, or the calendar year in which you retire. 1040a instruction book Check with your employer, plan administrator, or provider to find out whether this rule also applies to pre-1987 accruals. 1040a instruction book If not, a minimum amount of these accruals must begin to be distributed by the later of the end of the calendar year in which you reach age 75 or April 1 of the calendar year following retirement. 1040a instruction book For each year thereafter, the minimum distribution must be made by the last day of the year. 1040a instruction book If you do not receive the required minimum distribution, you are subject to a nondeductible 50% excise tax on the difference between the required minimum distribution and the amount actually distributed. 1040a instruction book No Special 10-Year Tax Option A distribution from a 403(b) plan does not qualify as a lump-sum distribution. 1040a instruction book This means you cannot use the special 10-year tax option to calculate the taxable portion of a 403(b) distribution. 1040a instruction book For more information, see Publication 575. 1040a instruction book Transfer of Interest in 403(b) Contract Contract exchanges. 1040a instruction book   If you transfer all or part of your interest from a 403(b) contract to another 403(b) contract (held in the same plan), the transfer is tax free, and is referred to as a contract exchange. 1040a instruction book This was previously known as a 90-24 transfer. 1040a instruction book A contract exchange is similar to a 90-24 transfer with one major difference. 1040a instruction book Previously, you were able to accomplish the transfer without your employer’s involvement. 1040a instruction book After September 24, 2007, all such transfers are accomplished through a contract exchange requiring your employer’s involvement. 1040a instruction book In addition, the plan must provide for the exchange and the transferred interest must be subject to the same or stricter distribution restrictions. 1040a instruction book Finally, your accumulated benefit after the exchange must be equal to what it was before the exchange. 1040a instruction book   Transfers that do not satisfy this rule are plan distributions and are generally taxable as ordinary income. 1040a instruction book Plan-to-plan transfers. 1040a instruction book   You may also transfer part or all of your interest from a 403(b) plan to another 403(b) plan if you are an employee of (or were formerly employed by) the employer of the plan to which you would like to transfer. 1040a instruction book Both the initial plan and the receiving plan must provide for transfers. 1040a instruction book Your accumulated benefit after the transfer must be at least equal to what it was before the transfer. 1040a instruction book The new plan’s restrictions on distributions must be the same or stricter than those of the original plan. 1040a instruction book Tax-free transfers for certain cash distributions. 1040a instruction book   A tax-free transfer may also apply to a cash distribution of your 403(b) account from an insurance company that is subject to a rehabilitation, conservatorship, insolvency, or similar state proceeding. 1040a instruction book To receive tax-free treatment, you must do all of the following: Withdraw all the cash to which you are entitled in full settlement of your contract rights or, if less, the maximum permitted by the state. 1040a instruction book Reinvest the cash distribution in a single policy or contract issued by another insurance company or in a single custodial account subject to the same or stricter distribution restrictions as the original contract not later than 60 days after you receive the cash distribution. 1040a instruction book Assign all future distribution rights to the new contract or account for investment in that contract or account if you received an amount that is less than what you are entitled to because of state restrictions. 1040a instruction book   In addition to the preceding requirements, you must provide the new insurer with a written statement containing all of the following information: The gross amount of cash distributed under the old contract. 1040a instruction book The amount of cash reinvested in the new contract. 1040a instruction book Your investment in the old contract on the date you receive your first cash distribution. 1040a instruction book   Also, you must attach the following items to your timely filed income tax return in the year you receive the first distribution of cash. 1040a instruction book A copy of the statement you gave the new insurer. 1040a instruction book A statement that includes: The words ELECTION UNDER REV. 1040a instruction book PROC. 1040a instruction book 92-44, The name of the company that issued the new contract, and The new policy number. 1040a instruction book Direct trustee-to-trustee transfer. 1040a instruction book   If you make a direct trustee-to-trustee transfer, from your governmental 403(b) account to a defined benefit governmental plan, it may not be includible in gross income. 1040a instruction book   The transfer amount is not includible in gross income if it is made to: Purchase permissive service credits, or Repay contributions and earnings that were previously refunded under a forfeiture of service credit under the plan, or under another plan maintained by a state or local government employer within the same state. 1040a instruction book After-tax contributions. 1040a instruction book   For distributions beginning after December 31, 2006, after-tax contributions can be rolled over between a 403(b) plan and a defined benefit plan, IRA, or a defined contribution plan. 1040a instruction book If the rollover is to or from a 403(b) plan, it must occur through a direct trustee-to-trustee transfer. 1040a instruction book Permissive service credit. 1040a instruction book   A permissive service credit is credit for a period of service recognized by a defined benefit governmental plan only if you voluntarily contribute to the plan an amount that does not exceed the amount necessary to fund the benefit attributable to the period of service and the amount contributed is in addition to the regular employee contribution, if any, under the plan. 1040a instruction book   A permissive service credit may also include service credit for up to 5 years where there is no performance of service, or service credited to provide an increased benefit for service credit which a participant is receiving under the plan. 1040a instruction book   Check with your plan administrator as to the type and extent of service that may be purchased by this transfer. 1040a instruction book Tax-Free Rollovers You can generally roll over tax free all or any part of a distribution from a 403(b) plan to a traditional IRA or a non-Roth eligible retirement plan, except for any nonqualifying distributions, described later. 1040a instruction book You may also roll over any part of a distribution from a 403(b) plan by converting it through a direct rollover, described below, to a Roth IRA. 1040a instruction book Conversion amounts are generally includible in your taxable income in the year of the distribution from your 403(b) account. 1040a instruction book See Publication 590 for more information about conversion into a Roth IRA. 1040a instruction book Note. 1040a instruction book A participant is required to roll over distribution amounts received within 60 days in order for the amount to be treated as nontaxable. 1040a instruction book Distribution amounts that are rolled over within the 60 days are not subject to the 10% early distribution penalty. 1040a instruction book Rollovers to and from 403(b) plans. 1040a instruction book   You can generally roll over tax free all or any part of a distribution from an eligible retirement plan to a 403(b) plan. 1040a instruction book Beginning January 1, 2008, distributions from tax-qualified retirement plans and tax-sheltered annuities can be converted by making a direct rollover into a Roth IRA subject to the restrictions that currently apply to rollovers from a traditional IRA into a Roth IRA. 1040a instruction book Converted amounts are generally includible in your taxable income in the year of the distribution from your 403(b) account. 1040a instruction book See Publication 590 for more information on conversion into a Roth IRA. 1040a instruction book   If a distribution includes both pre-tax contributions and after-tax contributions, the portion of the distribution that is rolled over is treated as consisting first of pre-tax amounts (contributions and earnings that would be includible in income if no rollover occurred). 1040a instruction book This means that if you roll over an amount that is at least as much as the pre-tax portion of the distribution, you do not have to include any of the distribution in income. 1040a instruction book   For more information on rollovers and eligible retirement plans, see Publication 575. 1040a instruction book If you roll over money or other property from a 403(b) plan to an eligible retirement plan, see Publication 575 for information about possible effects on later distributions from the eligible retirement plan. 1040a instruction book Hardship exception to rollover rules. 1040a instruction book   The IRS may waive the 60-day rollover period if the failure to waive such requirement would be against equity or good conscience, including cases of casualty, disaster, or other events beyond the reasonable control of an individual. 1040a instruction book   To obtain a hardship exception, you must apply to the IRS for a waiver of the 60-day rollover requirement. 1040a instruction book You apply for the waiver by following the general instructions used in requesting a letter ruling. 1040a instruction book These instructions are stated in Revenue Procedure 2013-4, 2013-1 I. 1040a instruction book R. 1040a instruction book B. 1040a instruction book 126 available at www. 1040a instruction book irs. 1040a instruction book gov/irb/2013-01_IRB/ar09. 1040a instruction book html, or see the latest annual update. 1040a instruction book You must also pay a user fee with the application. 1040a instruction book The user fee for a rollover that is less than $50,000 is $500. 1040a instruction book For rollovers that are $50,000 or more, see Revenue Procedure 2013-8, 2013-1 I. 1040a instruction book R. 1040a instruction book B. 1040a instruction book 237 available at www. 1040a instruction book irs. 1040a instruction book gov/irb/2013-01_IRB/ar13. 1040a instruction book html, or see the latest annual update. 1040a instruction book   In determining whether to grant a waiver, the IRS will consider all relevant facts and circumstances, including: Whether errors were made by the financial institution; Whether you were unable to complete the rollover due to death, disability, hospitalization, incarceration, restrictions imposed by a foreign country, or postal error; Whether you used the amount distributed (for example, in the case of payment by check, whether you cashed the check); and How much time has passed since the date of distribution. 1040a instruction book   For additional information on rollovers, see Publication 590. 1040a instruction book Eligible retirement plans. 1040a instruction book   The following are considered eligible retirement plans. 1040a instruction book Individual retirement arrangements. 1040a instruction book Roth IRA. 1040a instruction book 403(b) plans. 1040a instruction book Government eligible 457 plans. 1040a instruction book Qualified retirement plans. 1040a instruction book  If the distribution is from a designated Roth account, then the only eligible retirement plan is another designated Roth account or a Roth IRA. 1040a instruction book Nonqualifying distributions. 1040a instruction book   You cannot roll over tax free: Minimum required distributions (generally required to begin at age 70½), Substantially equal payments over your life or life expectancy, Substantially equal payments over the joint lives or life expectancies of your beneficiary and you, Substantially equal payments for a period of 10 years or more, Hardship distributions, or Corrective distributions of excess contributions or excess deferrals, and any income allocable to the excess, or excess annual additions and any allocable gains. 1040a instruction book Rollover of nontaxable amounts. 1040a instruction book    You may be able to roll over the nontaxable part of a distribution (such as your after-tax contributions) made to another eligible retirement plan, traditional IRA, or Roth IRA. 1040a instruction book The transfer must be made either through a direct rollover to an eligible plan that separately accounts for the taxable and nontaxable parts of the rollover or through a rollover to a traditional IRA or Roth IRA. 1040a instruction book   If you roll over only part of a distribution that includes both taxable and nontaxable amounts, the amount you roll over is treated as coming first from the taxable part of the distribution. 1040a instruction book Direct rollovers of 403(b) plan distributions. 1040a instruction book   You have the option of having your 403(b) plan make the rollover directly to a traditional IRA, Roth IRA, or new plan. 1040a instruction book Before you receive a distribution, your plan will give you information on this. 1040a instruction book It is generally to your advantage to choose this option because your plan will not withhold tax on the distribution if you choose it. 1040a instruction book Distribution received by you. 1040a instruction book   If you receive a distribution that qualifies to be rolled over, you can roll over all or any part of the distribution. 1040a instruction book Generally, you will receive only 80% of the distribution because 20% must be withheld. 1040a instruction book If you roll over only the 80% you receive, you must pay tax on the 20% you did not roll over. 1040a instruction book You can replace the 20% that was withheld with other money within the 60-day period to make a 100% rollover. 1040a instruction book Voluntary deductible contributions. 1040a instruction book   For tax years 1982 through 1986, employees could make deductible contributions to a 403(b) plan under the individual retirement arrangement (IRA) rules instead of deducting contributions to a traditional IRA. 1040a instruction book   If you made voluntary deductible contributions to a 403(b) plan under these traditional IRA rules, the distribution of all or part of the accumulated deductible contributions may be rolled over if it otherwise qualifies as a distribution you can roll over. 1040a instruction book Accumulated deductible contributions are the deductible contributions: Plus Income allocable to the contributions, Gain allocable to the contributions, and Minus Expenses and losses allocable to the contributions, and Distributions from the contributions, income, or gain. 1040a instruction book Excess employer contributions. 1040a instruction book   The portion of a distribution from a 403(b) plan transferred to a traditional IRA that was previously included in income as excess employer contributions (discussed earlier) is not an eligible rollover distribution. 1040a instruction book   Its transfer does not affect the rollover treatment of the eligible portion of the transferred amounts. 1040a instruction book However, the ineligible portion is subject to the traditional IRA contribution limits and may create an excess IRA contribution subject to a 6% excise tax (see chapter 1 of Publication 590). 1040a instruction book Qualified domestic relations order. 1040a instruction book   You may be able to roll over tax free all or any part of an eligible rollover distribution from a 403(b) plan that you receive under a qualified domestic relations order (QDRO). 1040a instruction book If you receive the interest in the 403(b) plan as an employee's spouse or former spouse under a QDRO, all of the rollover rules apply to you as if you were the employee. 1040a instruction book You can roll over your interest in the plan to a traditional IRA or another 403(b) plan. 1040a instruction book For more information on the treatment of an interest received under a QDRO, see Publication 575. 1040a instruction book Spouses of deceased employees. 1040a instruction book   If you are the spouse of a deceased employee, you can roll over the qualifying distribution attributable to the employee. 1040a instruction book You can make the rollover to any eligible retirement plan. 1040a instruction book   After you roll money and other property over from a 403(b) plan to an eligible retirement plan, and you take a distribution from that plan, you will not be eligible to receive the capital gain treatment or the special averaging treatment for the distribution. 1040a instruction book Second rollover. 1040a instruction book   If you roll over a qualifying distribution to a traditional IRA, you can, if certain conditions are satisfied, later roll the distribution into another 403(b) plan. 1040a instruction book For more information, see IRA as a holding account (conduit IRA) for rollovers to other eligible plans in chapter 1 of Publication 590. 1040a instruction book Nonspouse beneficiary. 1040a instruction book   A nonspouse beneficiary may make a direct rollover of a distribution from a 403(b) plan of a deceased participant if the rollover is a direct transfer to an inherited IRA established to receive the distribution. 1040a instruction book If the rollover is a direct trustee-to-trustee transfer to an IRA established to receive the distribution: The transfer will be treated as an eligible rollover distribution. 1040a instruction book The IRA will be considered an inherited account. 1040a instruction book The required minimum distribution rules that apply in instances where the participant dies before the entire interest is distributed will apply to the transferred IRA. 1040a instruction book    For more information on IRAs, see Publication 590. 1040a instruction book Frozen deposits. 1040a instruction book   The 60-day period usually allowed for completing a rollover is extended for any time that the amount distributed is a frozen deposit in a financial institution. 1040a instruction book The 60-day period cannot end earlier than 10 days after the deposit ceases to be a frozen deposit. 1040a instruction book   A frozen deposit is any deposit that on any day during the 60-day period cannot be withdrawn because: The financial institution is bankrupt or insolvent, or The state where the institution is located has placed limits on withdrawals because one or more banks in the state are (or are about to be) bankrupt or insolvent. 1040a instruction book Gift Tax If, by choosing or not choosing an election, or option, you provide an annuity for your beneficiary at or after your death, you may have made a taxable gift equal to the value of the annuity. 1040a instruction book Joint and survivor annuity. 1040a instruction book   If the gift is an interest in a joint and survivor annuity where only you and your spouse have the right to receive payments, the gift will generally be treated as qualifying for the unlimited marital deduction. 1040a instruction book More information. 1040a instruction book   For information on the gift tax, see Publication 559, Survivors, Executors, and Administrators. 1040a instruction book Prev  Up  Next   Home   More Online Publications