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2008 Amended Tax Return

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2008 Amended Tax Return

2008 amended tax return 11. 2008 amended tax return   Beneficios del Seguro Social y Beneficios Equivalentes de la Jubilación para Empleados Ferroviarios Table of Contents Introduction Useful Items - You may want to see: ¿Está Sujeta a Impuestos Alguna Parte de los Beneficios? Cómo Declarar los Beneficios¿Cuánto Está Sujeto a Impuestos? Ejemplos Deducciones Relacionadas con los BeneficiosReintegros Superiores a los Beneficios Brutos Introduction Este capítulo explica las reglas del impuesto federal sobre el ingreso para los beneficios del Seguro Social y beneficios equivalentes de la jubilación para empleados ferroviarios de nivel 1. 2008 amended tax return Explica los siguientes temas: Cómo determinar si los beneficios están sujetos a impuestos. 2008 amended tax return Cómo usar la hoja de trabajo de beneficios del Seguro Social (con ejemplos). 2008 amended tax return Cómo declarar los beneficios sujetos a impuestos. 2008 amended tax return Cómo tratar reintegros superiores a los beneficios recibidos durante el año. 2008 amended tax return Los beneficios del Seguro Social incluyen los beneficios mensuales de jubilación, para el sobreviviente y de incapacidad. 2008 amended tax return Éstos no incluyen pagos del Supplemental Security Income (Ingreso de seguridad suplementario o SSI, por sus siglas en inglés), los cuales no están sujetos a impuestos. 2008 amended tax return Los beneficios equivalentes de la jubilación de empleados ferroviarios de nivel 1 son la parte de los beneficios de nivel 1 que un empleado ferroviario o beneficiario habría tenido derecho a recibir conforme al sistema del Seguro Social. 2008 amended tax return Éstos se conocen habitualmente como el Social Security equivalent benefit (beneficio equivalente al Seguro Social o SSEB, por sus siglas en inglés) de los beneficios de nivel 1. 2008 amended tax return Si recibió estos beneficios durante el año 2013, debería haber recibido un Formulario SSA-1099, Social Security Benefit Statement (Declaración de beneficios del Seguro Social), en inglés, o un Formulario RRB-1099, Payments by the Railroad Retirement Board (Pagos efectuados por la Junta de Jubilación Ferroviaria), en inglés. 2008 amended tax return Estos formularios muestran las cantidades recibidas y reintegradas y los impuestos retenidos durante el año. 2008 amended tax return Tal vez reciba más de uno de estos formularios para el mismo año. 2008 amended tax return Debe sumar las cantidades que aparezcan en todos los Formularios SSA-1099 y los Formularios RRB-1099 que reciba para el año para determinar las cantidades totales recibidas y reintegradas, y los impuestos retenidos durante ese año. 2008 amended tax return Consulte el Appendix (Apéndice) al final de la Publicación 915, Social Security and Equivalent Railroad Retirement Benefits (Beneficios del Seguro Social y beneficios equivalentes de jubilación para empleados ferroviarios), en inglés, para más información. 2008 amended tax return Nota: El uso del término “beneficios” en este capítulo corresponde tanto a los beneficios del Seguro Social como a la parte del SSEB de los beneficios de jubilación de empleados ferroviarios de nivel 1. 2008 amended tax return Lo que no cubre este capítulo. 2008 amended tax return   Este capítulo no cubre las reglas tributarias para los siguientes beneficios de jubilación de empleados ferroviarios: Parte de los beneficios no equivalentes al Seguro Social (NSSEB, por sus siglas en inglés) de los beneficios de nivel 1. 2008 amended tax return Beneficios de nivel 2. 2008 amended tax return Beneficios dobles adquiridos. 2008 amended tax return Beneficios suplementarios de anualidad. 2008 amended tax return Para obtener información acerca de estos beneficios, consulte la Publicación 575, Pension and Annuity Income (Ingresos de pensiones y anualidades), en inglés. 2008 amended tax return   Este capítulo no cubre las reglas tributarias para los beneficios del Seguro Social declarados en el Formulario SSA-1042S, Social Security Benefit Statement (Declaración de beneficios del Seguro Social), o Formulario RRB-1042S, Statement for Nonresident Alien Recipients of: Payments by the Railroad Retirement Board (Declaración para destinatarios extranjeros no residentes de: Pagos efectuados por la Junta de Jubilación Ferroviaria), en inglés. 2008 amended tax return Para información sobre estos beneficios, vea la Publicación 519, U. 2008 amended tax return S. 2008 amended tax return Tax Guide for Aliens (Guía sobre los impuestos estadounidenses para extranjeros), en inglés, y la Publicación 915, en inglés. 2008 amended tax return   Este capítulo tampoco cubre las reglas tributarias sobre los beneficios extranjeros del Seguro Social. 2008 amended tax return Estos beneficios están sujetos a impuestos como anualidades, a menos que estén exentos de impuestos estadounidenses o sean tratados como beneficios del Seguro Social estadounidense conforme a un tratado tributario. 2008 amended tax return Useful Items - You may want to see: Publicación 505 Tax Withholding and Estimated Tax (Retención del impuesto e impuesto estimado), en inglés 575 Pension and Annuity Income (Ingresos de pensiones y anualidades), en inglés 590 Individual Retirement Arrangements (IRAs) (Arreglos de ahorros para la jubilación (Arreglos IRA)), en inglés 915 Social Security and Equivalent Railroad Retirement Benefits (Beneficios del Seguro Social y beneficios equivalentes de jubilación para empleados ferroviarios), en inglés Formularios (e Instrucciones) 1040-ES Estimated Tax for Individuals (Impuesto estimado para las personas físicas), en inglés SSA-1099 Social Security Benefit Statement (Declaración de beneficios del Seguro Social), en inglés RRB-1099 Payments by the Railroad Retirement Board (Pagos efectuados por la Junta de Jubilación Ferroviaria), en inglés W-4V Voluntary Withholding Request (Solicitud de retención voluntaria), en inglés ¿Está Sujeta a Impuestos Alguna Parte de los Beneficios? Para saber si alguna parte de los beneficios puede estar sujeta a impuestos, compare la cantidad base de su estado civil para efectos de la declaración con el total de: La mitad de los beneficios, más Todos los demás ingresos, incluidos los intereses exentos de impuestos. 2008 amended tax return Al hacer esta comparación, no reste de los demás ingresos ninguna de las siguientes exclusiones: Intereses sobre bonos de ahorros estadounidenses calificados; Beneficios por adopción proporcionados por el empleador; Ingresos devengados en el extranjero o vivienda en el extranjero ni Ingresos devengados por residentes bona fide de la Samoa Estadounidense o Puerto Rico. 2008 amended tax return Beneficios por hijos. 2008 amended tax return   Las reglas en este capítulo corresponden a beneficios recibidos por hijos. 2008 amended tax return Vea A quién se le cobran impuestos , más adelante. 2008 amended tax return Cómo calcular el ingreso total. 2008 amended tax return   Para calcular el total de la mitad de los beneficios más otros ingresos, use la Hoja de Trabajo 11-1 que aparece más adelante en este capítulo. 2008 amended tax return Si el total es mayor que la cantidad base, es posible que parte de los beneficios esté sujeta a impuestos. 2008 amended tax return    Si es casado y presenta una declaración conjunta para el año 2013, usted y su cónyuge tienen que sumar sus ingresos y beneficios para calcular si alguna parte de la suma de éstos está sujeta a impuestos. 2008 amended tax return Aun si su cónyuge no recibió beneficios, tiene que sumar el ingreso de su cónyuge al suyo para calcular si alguna parte de los beneficios está sujeta a impuestos. 2008 amended tax return    Si el único ingreso que recibió durante el año 2013 fue del Seguro Social o la parte del SSEB de los beneficios de jubilación para empleados ferroviarios de nivel 1, los beneficios no están, por lo general, sujetos a impuestos y probablemente no tenga que presentar una declaración. 2008 amended tax return Si tiene ingresos además de beneficios, tal vez tenga que presentar una declaración aun si ninguna parte de los beneficios está sujeta a impuestos. 2008 amended tax return Cantidad base. 2008 amended tax return   La cantidad base es: $25,000 si es soltero, cabeza de familia o viudo que reúne los requisitos; $25,000 si es casado que presenta una declaración por separado y vivió separado de su cónyuge durante todo el año 2013; $32,000 si es casado que presenta una declaración conjunta o $-0- si es casado que presenta una declaración por separado y vivió con su cónyuge en algún momento durante el año 2013. 2008 amended tax return Hoja de Trabajo 11-1. 2008 amended tax return    Puede usar la Hoja de Trabajo 11-1 para calcular la cantidad de ingresos y compararla con la cantidad base. 2008 amended tax return Ésta es una manera rápida de averiguar si alguna parte de sus beneficios está sujeta a impuestos. 2008 amended tax return Hoja de Trabajo 11-1. 2008 amended tax return Una Manera Rápida de Averiguar si sus Beneficios Podrían Estar Sujetos a Impuestos A. 2008 amended tax return Anote la cantidad del recuadro 5 de todos los Formularios SSA-1099 y RRB-1099. 2008 amended tax return Incluya la cantidad total de los pagos de beneficios en suma global recibidos en el año 2013, para el año 2013 y años anteriores. 2008 amended tax return Si recibió más de un formulario, sume las cantidades del recuadro 5 y anote el total. 2008 amended tax return A. 2008 amended tax return   Nota: Si la cantidad de la línea A es cero o menos, deténgase aquí; ninguna parte de los beneficios está sujeta a impuestos este año. 2008 amended tax return B. 2008 amended tax return Anote la mitad de la cantidad de la línea A B. 2008 amended tax return   C. 2008 amended tax return Anote las pensiones, salarios, intereses, dividendos y otros ingresos sujetos a impuestos C. 2008 amended tax return   D. 2008 amended tax return Anote todos los ingresos de intereses exentos de impuestos (como intereses de bonos municipales) más toda exclusión de los ingresos (enumerados anteriormente) . 2008 amended tax return D. 2008 amended tax return   E. 2008 amended tax return Sume las líneas B, C y D E. 2008 amended tax return   Nota: Compare la cantidad de la línea E con la cantidad base correspondiente a su estado civil para efectos de la declaración. 2008 amended tax return Si la cantidad de la línea E es igual o menor que la cantidad base correspondiente a su estado civil, ninguna parte de sus beneficios está sujeta a impuestos este año. 2008 amended tax return Si la cantidad de la línea E es mayor que la cantidad base, alguna parte de sus beneficios podría estar sujeta a impuestos. 2008 amended tax return Tiene que completar la Hoja de Trabajo 1 de la Publicación 915, en inglés (o la Social Security Benefits Worksheet (Hoja de trabajo para beneficios del Seguro Social) de las instrucciones del formulario para la declaración de impuestos que usted presenta). 2008 amended tax return Si ninguna parte de los beneficios está sujeta a impuestos, pero igual tiene que presentar una declaración, vea más adelante Beneficios no sujetos a impuestos , bajo Cómo Declarar los Beneficios. 2008 amended tax return Ejemplo. 2008 amended tax return Usted y su cónyuge (ambos mayores de 65 años de edad) presentan una declaración conjunta para el año 2013 y ambos recibieron beneficios del Seguro Social durante el año. 2008 amended tax return En enero del año 2014, usted recibió un Formulario SSA-1099 que muestra beneficios netos de $7,500 en el recuadro 5. 2008 amended tax return Su cónyuge recibió un Formulario SSA-1099 que muestra beneficios netos de $3,500 en el recuadro 5. 2008 amended tax return Además, usted recibió una pensión sujeta a impuestos de $22,800 e ingresos de intereses de $500. 2008 amended tax return No tuvo ningún ingreso de intereses exentos de impuestos. 2008 amended tax return Sus beneficios no están sujetos a impuestos para el año 2013 debido a que su ingreso, según lo calculado en la Hoja de Trabajo 11-1 completada, no es mayor que la cantidad base ($32,000) para una persona casada que presenta una declaración conjunta. 2008 amended tax return Aunque ninguna cantidad de sus beneficios está sujeta a impuestos, usted tiene que presentar una declaración para el año 2013 debido a que su ingreso bruto sujeto a impuestos ($23,300) excede de la cantidad mínima requerida para la presentación de la declaración correspondiente a su estado civil para efectos de la declaración. 2008 amended tax return Hoja de Trabajo 11-1 completada. 2008 amended tax return Una Manera Rápida de Averiguar si sus Beneficios Podrían Estar Sujetos a Impuestos A. 2008 amended tax return Anote la cantidad del recuadro 5 de todos los Formularios SSA-1099 y RRB-1099. 2008 amended tax return Incluya la cantidad total de los pagos de beneficios en suma global recibidos en el año 2013, para el año 2013 y años anteriores. 2008 amended tax return Si recibió más de un formulario, sume las cantidades del recuadro 5 y anote el total. 2008 amended tax return A. 2008 amended tax return $ 11,000 Nota: Si la cantidad de la línea A es cero o menos, deténgase aquí; ninguna parte de los beneficios está sujeta a impuestos este año. 2008 amended tax return B. 2008 amended tax return Anote la mitad de la cantidad de la línea A B. 2008 amended tax return 5,500 C. 2008 amended tax return Anote las pensiones, salarios, intereses, dividendos y otros ingresos sujetos a impuestos C. 2008 amended tax return 23,300 D. 2008 amended tax return Anote todos los ingresos de intereses exentos de impuestos (como intereses de bonos municipales) más toda exclusión de los ingresos (enumerados anteriormente). 2008 amended tax return D. 2008 amended tax return -0- E. 2008 amended tax return Sume las líneas B, C y D E. 2008 amended tax return $28,800 Nota: Compare la cantidad de la línea E con la cantidad base correspondiente a su estado civil para efectos de la declaración. 2008 amended tax return Si la cantidad de la línea E es igual o menor que la cantidad base correspondiente a su estado civil, ninguna parte de sus beneficios está sujeta a impuestos este año. 2008 amended tax return Si la cantidad de la línea E es mayor que la cantidad base, alguna parte de sus beneficios podría estar sujeta a impuestos. 2008 amended tax return Tiene que completar la Hoja de Trabajo 1 de la Publicación 915, en inglés (o la Social Security Benefits Worksheet (Hoja de trabajo para beneficios del Seguro Social) de las instrucciones del formulario para la declaración de impuestos que usted presenta). 2008 amended tax return Si ninguna parte de los beneficios está sujeta a impuestos, pero igual tiene que presentar una declaración, vea más adelante Beneficios no sujetos a impuestos , bajo Cómo Declarar los Beneficios. 2008 amended tax return A quién se le cobran impuestos. 2008 amended tax return   Los beneficios se incluyen en los ingresos sujetos a impuestos (según estén sujetos a impuestos) de la persona que tiene derecho legal a recibirlos. 2008 amended tax return Por ejemplo, si usted y su hijo reciben beneficios, pero el cheque de su hijo está a nombre de usted, tiene que usar sólo la parte de los beneficios que le corresponde a usted para ver si alguna parte de los beneficios en su caso está sujeta a impuestos. 2008 amended tax return La mitad de la parte correspondiente a su hijo tiene que sumarse a los demás ingresos de su hijo para saber si alguna parte de esos beneficios está sujeta a impuestos para su hijo. 2008 amended tax return Reintegro de beneficios. 2008 amended tax return   Todo reintegro de beneficios que usted haya hecho durante el año 2013 tiene que restarse de los beneficios brutos que recibió en el año 2013. 2008 amended tax return No importa si el reintegro fue por beneficios recibidos en el año 2013 o en un año anterior. 2008 amended tax return Si el reintegro fue mayor que los beneficios brutos recibidos en el año 2013, consulte Reintegros Superiores a los Beneficios Brutos , más adelante. 2008 amended tax return   Los beneficios brutos aparecen en el recuadro 3 del Formulario SSA-1099 o RRB-1099. 2008 amended tax return Los reintegros aparecen en el recuadro 4. 2008 amended tax return La cantidad del recuadro 5 muestra los beneficios netos del año 2013 (recuadro 3 menos recuadro 4). 2008 amended tax return Use la cantidad del recuadro 5 para calcular si alguna parte de sus beneficios está sujeta a impuestos. 2008 amended tax return Retención de impuestos e impuesto estimado. 2008 amended tax return   Puede optar por que se haga la retención del impuesto federal sobre el ingreso de sus beneficios del Seguro Social y/o de la parte del SSEB de sus beneficios de jubilación para empleados ferroviarios de nivel 1. 2008 amended tax return Si opta por hacerlo, tiene que completar un Formulario W-4V. 2008 amended tax return   Si opta por no hacer la retención del impuesto sobre el ingreso, tal vez tenga que solicitar la retención adicional de otros ingresos o pagar un impuesto estimado durante el año. 2008 amended tax return Para más detalles, consulte la Publicación 505 o las instrucciones para el Formulario 1040-ES, ambas en inglés. 2008 amended tax return Cómo Declarar los Beneficios Si parte de sus beneficios está sujeta a impuestos, tiene que usar el Formulario 1040 o el Formulario 1040A. 2008 amended tax return No puede usar el Formulario 1040EZ. 2008 amended tax return Cómo hacer la declaración en el Formulario 1040. 2008 amended tax return   Declare los beneficios netos (la cantidad total del recuadro 5 de todos los Formularios SSA-1099 y de los Formularios RRB-1099) en la línea 20a y la parte sujeta a impuestos en la línea 20b. 2008 amended tax return Si es casado que presenta una declaración por separado y vivió separado de su cónyuge durante todo el año 2013, anote también “D” a la derecha de la palabra “ benefits ” (beneficios) en la línea 20a. 2008 amended tax return Cómo hacer la declaración en el Formulario 1040A. 2008 amended tax return   Declare los beneficios netos (la cantidad total del recuadro 5 de todos los Formularios SSA-1099 y de los Formularios RRB-1099) en la línea 14a y la parte sujeta a impuestos en la línea 14b. 2008 amended tax return Si es casado que presenta una declaración por separado y vivió separado de su cónyuge durante todo el año 2013, anote también “D” a la derecha de la palabra “ benefits ” (beneficios) en la línea 14a. 2008 amended tax return Beneficios no sujetos a impuestos. 2008 amended tax return   Si presenta el Formulario 1040EZ, no declare beneficios en su declaración de impuestos. 2008 amended tax return Si presenta el Formulario 1040 o Formulario 1040A, declare sus beneficios netos (la cantidad total del recuadro 5 de todos sus Formularios SSA-1099 y Formularios RRB-1099) en la línea 20a del Formulario 1040 o en la línea 14a del Formulario 1040A. 2008 amended tax return Anote “-0-” en la línea 20b del Formulario 1040 o en la línea 14b del Formulario 1040A. 2008 amended tax return Si es casado que presenta la declaración por separado y vivió separado de su cónyuge durante todo el año 2013, anote también “D” a la derecha de la palabra “ benefits ” (beneficios) en la línea 20a del Formulario 1040 o en la línea 14a del Formulario 1040A. 2008 amended tax return ¿Cuánto Está Sujeto a Impuestos? Si parte de sus beneficios está sujeta a impuestos, dicha cantidad depende de la cantidad total de los beneficios y otros ingresos. 2008 amended tax return Normalmente, cuanto más alta sea esa cantidad total, mayor es la parte sujeta a impuestos de los beneficios. 2008 amended tax return Máxima parte sujeta a impuestos. 2008 amended tax return   Por lo general, hasta el 50% de los beneficios están sujetos a impuestos. 2008 amended tax return Sin embargo, hasta el 85% de los beneficios pueden estar sujetos a impuestos si en su caso se da alguna de las siguientes situaciones: El total de la mitad de los beneficios más todos los demás ingresos es mayor de $34,000 ($44,000 si es casado que presenta una declaración conjunta). 2008 amended tax return Es casado que presenta una declaración por separado y vivió con su cónyuge en algún momento durante el año 2013. 2008 amended tax return Qué hoja de trabajo debe usar. 2008 amended tax return   En las instrucciones del Formulario 1040 o del Formulario 1040A hay una hoja de trabajo para calcular los beneficios sujetos a impuestos. 2008 amended tax return Puede usar esa hoja de trabajo o la Hoja de Trabajo 1 de la Publicación 915, en inglés, a menos que alguna de las siguientes situaciones corresponda a su caso: Hizo aportaciones a un arreglo de ahorros para la jubilación (IRA, por sus siglas en inglés) tradicional y usted o su cónyuge está cubierto por un plan de jubilación del trabajo. 2008 amended tax return En esta situación, usted tiene que usar las hojas de trabajo especiales del Appendix (Apéndice) B de la Publicación 590, en inglés, para calcular la deducción por un arreglo IRA y los beneficios sujetos a impuestos. 2008 amended tax return La situación (1) no le corresponde y usted declara una exclusión por intereses sobre los bonos de ahorros estadounidenses calificados (Formulario 8815), beneficios por adopción (Formulario 8839), ingresos devengados en el extranjero o vivienda en el extranjero (Formulario 2555 o Formulario 2555-EZ), o ingresos devengados en la Samoa Estadounidense (Formulario 4563) o Puerto Rico declarados por residentes bona fide. 2008 amended tax return En esta situación, se tiene que usar la Hoja de Trabajo 1 de la Publicación 915, en inglés, para calcular los beneficios sujetos a impuestos. 2008 amended tax return Recibió un pago de suma global por un año anterior. 2008 amended tax return En esta situación, complete además la Hoja de Trabajo 2 ó 3 y la Hoja de Trabajo 4 de la Publicación 915, en inglés. 2008 amended tax return Consulte Elección de suma global , tema que aparece a continuación. 2008 amended tax return Elección de suma global. 2008 amended tax return   Tiene que incluir la parte sujeta a impuestos de un pago de suma global (retroactivo) de beneficios recibidos en el año 2013 en los ingresos del año 2013, aun si el pago incluye beneficios de un año anterior. 2008 amended tax return    Este pago global de beneficios no debe confundirse con el pago global de beneficios por fallecimiento que la SSA y la RRB pagan a muchos de sus beneficiarios. 2008 amended tax return Ninguna parte del pago global de beneficios por fallecimiento está sujeta a impuestos. 2008 amended tax return   Generalmente, se usa el ingreso del año 2013 para calcular la parte sujeta a impuestos del total de beneficios recibidos en el año 2013. 2008 amended tax return Sin embargo, tal vez pueda calcular la parte sujeta a impuestos de un pago de suma global de un año anterior por separado, mediante el uso del ingreso del año anterior. 2008 amended tax return Puede optar por este método si eso reduce los beneficios sujetos a impuestos. 2008 amended tax return Cómo elegir su opción. 2008 amended tax return   Si recibió un pago global de beneficios en el año 2013 que incluya beneficios de uno o más años anteriores, siga las instrucciones de la Publicación 915 bajo Lump-Sum Election (Elección de suma global) para saber si dicha elección reducirá sus beneficios sujetos a impuestos. 2008 amended tax return Ese análisis también explica cómo elegir la opción que le sea de mayor beneficio. 2008 amended tax return    Debido a que los beneficios sujetos a impuestos de ese año anterior se incluyen en el ingreso del año 2013, no es necesario realizar ningún ajuste en la declaración del año anterior. 2008 amended tax return No presente una declaración enmendada del año anterior. 2008 amended tax return Ejemplos Los siguientes son algunos ejemplos que puede usar como guía para calcular la parte sujeta a impuestos de sus beneficios. 2008 amended tax return Ejemplo 1. 2008 amended tax return Jorge Blanco es soltero y presenta el Formulario 1040 para el año 2013. 2008 amended tax return Jorge recibió los siguientes ingresos en el año 2013: Pensión íntegramente sujeta a impuestos $18,600 Salario de trabajo a tiempo parcial 9,400 Ingreso de intereses sujeto a impuestos 990 Total $28,990 Además, Jorge recibió beneficios del Seguro Social durante el año 2013. 2008 amended tax return El Formulario SSA-1099 que recibió en enero del año 2014 muestra $5,980 en el recuadro 5. 2008 amended tax return Para calcular sus beneficios sujetos a impuestos, Jorge completa la hoja de trabajo que aparece aquí. 2008 amended tax return Hoja de Trabajo 1 completada. 2008 amended tax return Cómo Calcular los Beneficios Sujetos a Impuestos 1. 2008 amended tax return Anote la cantidad total del recuadro 5 de TODOS los Formularios SSA-1099 y RRB-1099. 2008 amended tax return Además, anote esta cantidad en la línea 20a del Formulario 1040 o en la línea 14a del Formulario 1040A. 2008 amended tax return $5,980 2. 2008 amended tax return Anote la mitad de la línea 1. 2008 amended tax return 2,990 3. 2008 amended tax return Sume el total de las cantidades del:     Formulario 1040: Líneas 7, 8a, 9a, 10 a 14, 15b, 16b, 17 a 19 y 21. 2008 amended tax return     Formulario 1040A: Líneas 7, 8a, 9a, 10, 11b, 12b y 13 28,990 4. 2008 amended tax return Anote la cantidad, si la hubiera, de la línea 8b del Formulario 1040 o del Formulario 1040A. 2008 amended tax return -0- 5. 2008 amended tax return Anote el total de toda exclusión/ajuste por:     • Beneficios por adopción (línea 28 del Formulario 8839),     • Ingresos devengados en el extranjero o vivienda en el extranjero (líneas 45 y 50 del Formulario 2555 o línea 18 del Formulario 2555-EZ) y     • Ciertos ingresos de residentes bona fide de la Samoa Estadounidense (línea 15 del Formulario 4563) o de Puerto Rico . 2008 amended tax return . 2008 amended tax return -0- 6. 2008 amended tax return Sume las líneas 2, 3, 4 y 5 31,980 7. 2008 amended tax return Declarantes que presentan el Formulario 1040: Anote la cantidad de las líneas 23 a 32 del Formulario 1040 y toda cantidad que se haya anotado en la línea de puntos directamente al lado de la línea 36 del Formulario 1040. 2008 amended tax return     Declarantes que presentan el Formulario 1040A: Anote la cantidad de las líneas 16 y 17 del Formulario 1040A. 2008 amended tax return -0- 8. 2008 amended tax return ¿Es la cantidad de la línea 7 menor que la cantidad de la línea 6?     No. 2008 amended tax return Ninguna parte de los beneficios del Seguro Social está sujeta a impuestos. 2008 amended tax return Anote -0- en la línea 20b del Formulario 1040 o en la línea 14b del Formulario 1040A. 2008 amended tax return   Sí. 2008 amended tax return Reste la línea 7 de la línea 6 31,980 9. 2008 amended tax return Si es: Casado que presenta una declaración conjunta, anote $32,000. 2008 amended tax return Soltero, cabeza de familia, viudo que reúne los requisitos o casado que presenta una declaración por separado y vivió separado de su cónyuge durante todo el año 2013, anote $25,000. 2008 amended tax return 25,000   Nota: Si es casado que presenta una declaración por separado y vivió con su cónyuge en algún momento del año 2013, omita las líneas 9 a 16; multiplique la línea 8 por 85% (0. 2008 amended tax return 85) y anote el resultado en la línea 17. 2008 amended tax return Luego, pase a la línea 18. 2008 amended tax return   10. 2008 amended tax return ¿Es la cantidad de la línea 9 menor que la cantidad de la línea 8?     No. 2008 amended tax return Ninguna parte de los beneficios está sujeta a impuestos. 2008 amended tax return Anote “-0-” en la línea 20b del Formulario 1040 o en la línea 14b del Formulario 1040A. 2008 amended tax return Si es casado que presenta una declaración por separado y vivió separado de su cónyuge durante todo el año 2013, asegúrese de haber anotado “D” a la derecha de la palabra “ benefits ” (beneficios) en la línea 20a del Formulario 1040 o la línea 14a del Formulario 1040A. 2008 amended tax return     Sí. 2008 amended tax return Reste la línea 9 de la línea 8 6,980 11. 2008 amended tax return Anote $12,000 si es casado que presenta una declaración conjunta; $9,000 si es soltero, cabeza de familia, viudo que reúne los requisitos o casado que presenta una declaración por separado y vivió separado de su cónyuge durante todo el año 2013. 2008 amended tax return 9,000 12. 2008 amended tax return Reste la línea 11 de la línea 10. 2008 amended tax return Si el resultado es cero o menos, anote “-0-”. 2008 amended tax return -0- 13. 2008 amended tax return De las líneas 10 y 11, anote la que sea menor 6,980 14. 2008 amended tax return Anote la mitad de la línea 13. 2008 amended tax return 3,490 15. 2008 amended tax return De las líneas 2 y 14, anote la que sea menor 2,990 16. 2008 amended tax return Multiplique la línea 12 por 85% (0. 2008 amended tax return 85). 2008 amended tax return Si la línea 12 es cero, anote “-0-”. 2008 amended tax return -0- 17. 2008 amended tax return Sume las líneas 15 y 16. 2008 amended tax return 2,990 18. 2008 amended tax return Multiplique la línea 1 por 85% (0. 2008 amended tax return 85). 2008 amended tax return 5,083 19. 2008 amended tax return Beneficios sujetos a impuestos. 2008 amended tax return De las líneas 17 y 18, anote la que sea menor. 2008 amended tax return Además, anote esta cantidad en la línea 20b del Formulario 1040 o la línea 14b del Formulario 1040A. 2008 amended tax return $2,990       La cantidad de la línea 19 de la hoja de trabajo de Jorge muestra que $2,990 de sus beneficios del Seguro Social están sujetos a impuestos. 2008 amended tax return En la línea 20a de su Formulario 1040, Jorge anota sus beneficios netos de $5,980. 2008 amended tax return En la línea 20b, anota beneficios sujetos a impuestos de $2,990. 2008 amended tax return   Ejemplo 2. 2008 amended tax return Raimundo y Alicia García presentan una declaración conjunta en el Formulario 1040A para el año 2013. 2008 amended tax return Raimundo está jubilado y recibió una pensión íntegramente sujeta a impuestos de $15,500. 2008 amended tax return Además, recibió beneficios del Seguro Social y su Formulario SSA-1099 para el año 2013 muestra beneficios netos de $5,600 en el recuadro 5. 2008 amended tax return Alicia trabajó durante el año y tuvo un salario de $14,000. 2008 amended tax return Ella efectuó un pago deducible a su arreglo IRA de $1,000. 2008 amended tax return Raimundo y Alicia tienen dos cuentas de ahorros con un total de $250 de ingresos de intereses sujetos a impuestos. 2008 amended tax return Ellos completan la Hoja de Trabajo 1, anotando $29,750 ($15,500 + $14,000 + $250) en la línea 3. 2008 amended tax return Ellos descubren que ninguna parte de los beneficios del Seguro Social de Raimundo está sujeta a impuestos. 2008 amended tax return En el Formulario 1040A, anotan $5,600 en la línea 14a y “-0-” en la línea 14b. 2008 amended tax return Hoja de Trabajo 1 completada. 2008 amended tax return Cómo Calcular los Beneficios Sujetos a Impuestos 1. 2008 amended tax return Anote la cantidad total del recuadro 5 de TODOS los Formularios SSA-1099 y RRB-1099. 2008 amended tax return Además, anote esta cantidad en la línea 20a del Formulario 1040 o en la línea 14a del Formulario 1040A. 2008 amended tax return $5,600 2. 2008 amended tax return Anote la mitad de la línea 1. 2008 amended tax return 2,800 3. 2008 amended tax return Sume el total de las cantidades del:     Formulario 1040: Líneas 7, 8a, 9a, 10 a 14, 15b, 16b,17 a 19 y 21. 2008 amended tax return     Formulario 1040A: Líneas 7, 8a, 9a, 10, 11b, 12b y 13 29,750 4. 2008 amended tax return Anote la cantidad, si la hubiera, de la línea 8b del Formulario 1040 o del Formulario 1040A. 2008 amended tax return -0- 5. 2008 amended tax return Anote el total de toda exclusión/ajuste por:     • Beneficios por adopción (línea 28 del Formulario 8839),     • Ingresos devengados en el extranjero o vivienda en el extranjero (líneas 45 y 50 del Formulario 2555 o línea 18 del Formulario 2555-EZ) y     • Ciertos ingresos de residentes bona fide de la Samoa Estadounidense (línea 15 del Formulario 4563) o de Puerto Rico -0- 6. 2008 amended tax return Sume las líneas 2, 3, 4 y 5 32,550 7. 2008 amended tax return Declarantes que presentan el Formulario 1040: Anote la cantidad de las líneas 23 a 32 del Formulario 1040 y toda cantidad que se haya anotado en la línea de puntos directamente al lado de la línea 36 del Formulario 1040. 2008 amended tax return     Declarantes que presentan el Formulario 1040A: Anote la cantidad de las líneas 16 y 17 del Formulario 1040A. 2008 amended tax return 1,000 8. 2008 amended tax return ¿Es la cantidad de la línea 7 menor que la cantidad de la línea 6?     No. 2008 amended tax return Ninguna parte de los beneficios del Seguro Social está sujeta a impuestos. 2008 amended tax return Anote -0- en la línea 20b del Formulario 1040 o en la línea 14b del Formulario 1040A. 2008 amended tax return   Sí. 2008 amended tax return Reste la línea 7 de la línea 6 31,550 9. 2008 amended tax return Si es: Casado que presenta una declaración conjunta, anote $32,000. 2008 amended tax return Soltero, cabeza de familia, viudo que reúne los requisitos o casado que presenta una declaración por separado y vivió separado de su cónyuge durante todo el año 2013, anote $25,000. 2008 amended tax return 32,000   Nota: Si es casado que presenta una declaración por separado y vivió con su cónyuge en algún momento del año 2013, omita las líneas 9 a 16; multiplique la línea 8 por 85% (0. 2008 amended tax return 85) y anote el resultado en la línea 17. 2008 amended tax return Luego, pase a la línea 18. 2008 amended tax return   10. 2008 amended tax return ¿Es la cantidad de la línea 9 menor que la cantidad de la línea 8?     No. 2008 amended tax return Ninguna parte de los beneficios está sujeta a impuestos. 2008 amended tax return Anote “-0-” en la línea 20b del Formulario 1040 o en la línea 14b del Formulario 1040A. 2008 amended tax return Si es casado que presenta una declaración por separado y vivió separado de su cónyuge durante todo el año 2013, asegúrese de haber anotado “D” a la derecha de la palabra “ benefits ” (beneficios) en la línea 20a del Formulario 1040 o la línea 14a del Formulario 1040A. 2008 amended tax return     Sí. 2008 amended tax return Reste la línea 9 de la línea 8   11. 2008 amended tax return Anote $12,000 si es casado que presenta una declaración conjunta; $9,000 si es soltero, cabeza de familia, viudo que reúne los requisitos o casado que presenta una declaración por separado y vivió separado de su cónyuge durante todo el año 2013. 2008 amended tax return   12. 2008 amended tax return Reste la línea 11 de la línea 10. 2008 amended tax return Si el resultado es cero o menos, anote “-0-”. 2008 amended tax return   13. 2008 amended tax return De las líneas 10 y 11, anote la que sea menor   14. 2008 amended tax return Anote la mitad de la línea 13. 2008 amended tax return   15. 2008 amended tax return De las líneas 2 y 14, anote la que sea menor   16. 2008 amended tax return Multiplique la línea 12 por 85% (0. 2008 amended tax return 85). 2008 amended tax return Si la línea 12 es cero, anote “-0-”. 2008 amended tax return   17. 2008 amended tax return Sume las líneas 15 y 16. 2008 amended tax return   18. 2008 amended tax return Multiplique la línea 1 por 85% (0. 2008 amended tax return 85). 2008 amended tax return   19. 2008 amended tax return Beneficios sujetos a impuestos. 2008 amended tax return De las líneas 17 y 18, anote la que sea menor. 2008 amended tax return Además, anote esta cantidad en la línea 20b del Formulario 1040 o la línea 14b del Formulario 1040A. 2008 amended tax return   Ejemplo 3. 2008 amended tax return José y Beatriz Pérez presentan una declaración conjunta en el Formulario 1040 del año 2013. 2008 amended tax return José es empleado ferroviario jubilado y en el año 2013 recibió la parte de beneficios equivalentes del Seguro Social (SSEB, por sus siglas en inglés) de los beneficios de jubilación para empleados ferroviarios de nivel 1. 2008 amended tax return El Formulario RRB-1099 de José muestra $10,000 en el recuadro 5. 2008 amended tax return Beatriz es funcionaria del gobierno jubilada y recibe una pensión íntegramente sujeta a impuestos de $38,000. 2008 amended tax return Ellos tuvieron $2,300 de ingresos de intereses sujetos a impuestos más $200 de intereses sobre bonos de ahorros estadounidenses calificados. 2008 amended tax return Los intereses sobre bonos de ahorros cumplieron las condiciones de la exclusión. 2008 amended tax return Calculan sus beneficios sujetos a impuestos completando la Hoja de Trabajo 1. 2008 amended tax return Ya que han recibido intereses sobre bonos de ahorros estadounidenses calificados, siguen las instrucciones en la primera parte de la hoja de trabajo y, en la línea 3 de la misma, anotan la cantidad de la línea 2 del Anexo B (Formulario 1040A o del Formulario 1040) en vez de anotar la cantidad de la línea 8a del Formulario 1040. 2008 amended tax return En la línea 3 de la hoja de trabajo, anotan $40,500 ($38,000 + $2,500). 2008 amended tax return Hoja de Trabajo 1 completada. 2008 amended tax return Cómo Calcular los Beneficios Sujetos a Impuestos Tenga en cuenta los siguientes puntos antes de completar esta hoja de trabajo: • Si es casado que presenta una declaración por separado y no vivió con su cónyuge durante todo el año 2013, anote “D” a la derecha de la palabra “benefits” (beneficios) en la línea 20a del Formulario 1040 o en la línea 14a del Formulario 1040A. 2008 amended tax return • No utilice esta hoja de trabajo si reintegró beneficios en el año 2013 y el total de estos reintegros (el recuadro 4 de los Formularios SSA-1099 y RRB-1099) era mayor que los beneficios brutos que recibió para el año 2013 (el recuadro 3 de los Formularios SSA-1099 y RRB-1099). 2008 amended tax return Ninguna parte de los beneficios está sujeta a impuestos para el año 2013. 2008 amended tax return Para información adicional, vea Reintegros Superiores a los Beneficios Brutos . 2008 amended tax return • Si presenta el Formulario 8815, Exclusion of Interest From Series EE and I U. 2008 amended tax return S. 2008 amended tax return Savings Bonds Issued After 1989 (Exclusión de los intereses provenientes de los bonos de ahorros estadounidenses calificados de las series EE e I emitidos después de 1989), no anote en la línea 3 de esta hoja de trabajo la cantidad de la línea 8a del Formulario 1040 o de la línea 3 del Formulario 1040A. 2008 amended tax return En lugar de ello, anote la cantidad de la línea 2 del Anexo B del Formulario 1040A o Formulario 1040. 2008 amended tax return       1. 2008 amended tax return Anote la cantidad total del recuadro 5 de TODOS los Formularios SSA-1099 y RRB-1099. 2008 amended tax return Además, anote esta cantidad en la línea 20a del Formulario 1040 o en la línea 14a del Formulario 1040A. 2008 amended tax return $10,000 2. 2008 amended tax return Anote la mitad de la línea 1. 2008 amended tax return 5,000 3. 2008 amended tax return Sume el total de las cantidades del:     Formulario 1040: Líneas 7, 8a, 9a, 10 a 14, 15b, 16b, 17 a 19 y 21. 2008 amended tax return     Formulario 1040A: Líneas 7, 8a, 9a, 10, 11b, 12b y 13 40,500 4. 2008 amended tax return Anote la cantidad, si la hubiera, de la línea 8b del Formulario 1040 o del Formulario 1040A. 2008 amended tax return -0- 5. 2008 amended tax return Anote el total de toda exclusión/ajuste por:     • Beneficios por adopción (línea 28 del Formulario 8839),     • Ingresos devengados en el extranjero o vivienda en el extranjero (líneas 45 y 50 del Formulario 2555 o línea 18 del Formulario 2555-EZ) y     • Ciertos ingresos de residentes bona fide de la Samoa Estadounidense (línea 15 del Formulario 4563) o de Puerto Rico . 2008 amended tax return . 2008 amended tax return -0- 6. 2008 amended tax return Sume las líneas 2, 3, 4 y 5 45,500 7. 2008 amended tax return Declarantes que presentan el Formulario 1040: Anote la cantidad de las líneas 23 a 32 del Formulario 1040, y toda cantidad que se haya anotado en la línea de puntos directamente al lado de la línea 36 del Formulario 1040. 2008 amended tax return     Declarantes que presentan el Formulario 1040A: Anote la cantidad de las líneas 16 y 17 del Formulario 1040A. 2008 amended tax return -0- 8. 2008 amended tax return ¿Es la cantidad de la línea 7 menor que la cantidad de la línea 6?     No. 2008 amended tax return Ninguna parte de los beneficios del Seguro Social está sujeta a impuestos. 2008 amended tax return Anote “-0-” en la línea 20b del Formulario 1040 o en la línea 14b del Formulario 1040A. 2008 amended tax return   Sí. 2008 amended tax return Reste la línea 7 de la línea 6 45,500 9. 2008 amended tax return Si es: Casado que presenta una declaración conjunta, anote $32,000. 2008 amended tax return Soltero, cabeza de familia, viudo que reúne los requisitos o casado que presenta una declaración por separado y vivió separado de su cónyuge durante todo el año 2013, anote $25,000. 2008 amended tax return 32,000   Nota: Si es casado que presenta una declaración por separado y vivió con su cónyuge en algún momento del año 2013, omita las líneas 9 a 16; multiplique la línea 8 por 85% (0. 2008 amended tax return 85) y anote el resultado en la línea 17. 2008 amended tax return Luego, pase a la línea 18. 2008 amended tax return   10. 2008 amended tax return ¿Es la cantidad de la línea 9 menor que la cantidad de la línea 8?     No. 2008 amended tax return Ninguna parte de los beneficios está sujeta a impuestos. 2008 amended tax return Anote “-0-” en la línea 20b del Formulario 1040 o en la línea 14b del Formulario 1040A. 2008 amended tax return Si es casado que presenta una declaración por separado y vivió separado de su cónyuge durante todo el año 2013, asegúrese de haber anotado “D” a la derecha de la palabra “ benefits ” (beneficios) en la línea 20a del Formulario 1040 o la línea 14a del Formulario 1040A. 2008 amended tax return     Sí. 2008 amended tax return Reste la línea 9 de la línea 8 13,500 11. 2008 amended tax return Anote $12,000 si es casado que presenta una declaración conjunta; $9,000 si es soltero, cabeza de familia, viudo que reúne los requisitos o casado que presenta una declaración por separado y vivió separado de su cónyuge durante todo el año 2013. 2008 amended tax return 12,000 12. 2008 amended tax return Reste la línea 11 de la línea 10. 2008 amended tax return Si el resultado es cero o menos, anote “-0-”. 2008 amended tax return 1,500 13. 2008 amended tax return De las líneas 10 y 11, anote la que sea menor 12,000 14. 2008 amended tax return Anote la mitad de la línea 13. 2008 amended tax return 6,000 15. 2008 amended tax return De las líneas 2 y 14, anote la que sea menor 5,000 16. 2008 amended tax return Multiplique la línea 12 por 85% (0. 2008 amended tax return 85). 2008 amended tax return Si la línea 12 es cero, anote “-0-”. 2008 amended tax return 1,275 17. 2008 amended tax return Sume las líneas 15 y 16. 2008 amended tax return 6,275 18. 2008 amended tax return Multiplique la línea 1 por 85% (0. 2008 amended tax return 85). 2008 amended tax return 8,500 19. 2008 amended tax return Beneficios sujetos a impuestos. 2008 amended tax return De las líneas 17 y 18, anote la que sea menor. 2008 amended tax return Además, anote esta cantidad en la línea 20b del Formulario 1040 o la línea 14b del Formulario 1040A. 2008 amended tax return $6,275 Más del 50% de los beneficios netos de José están sujetos a impuestos debido a que el ingreso de la línea 8 de la hoja de trabajo ($45,500) es mayor que $44,000. 2008 amended tax return José y Beatriz anotan $10,000 en la línea 20a del Formulario 1040 y $6,275 en la línea 20b del Formulario 1040. 2008 amended tax return Deducciones Relacionadas con los Beneficios Tal vez tenga derecho a deducir ciertas cantidades relacionadas con los beneficios que reciba. 2008 amended tax return Pagos por incapacidad. 2008 amended tax return   Tal vez haya recibido pagos por incapacidad de su empleador o de una compañía de seguros que usted incluyó como ingresos en la declaración de impuestos de algún año anterior. 2008 amended tax return Si recibió un pago de suma global de la SSA o de la RRB, y tuvo que reintegrar al empleador o compañía de seguros los pagos por incapacidad, puede declarar una deducción detallada por la parte de los pagos que incluyó en los ingresos brutos de ese año anterior. 2008 amended tax return Si la cantidad que reintegra es más de $3,000, tal vez pueda reclamar un crédito tributario en su lugar. 2008 amended tax return Declare la deducción o crédito de la misma manera que se explica bajo Reintegros Superiores a los Beneficios Brutos , más adelante. 2008 amended tax return Gastos por asuntos legales. 2008 amended tax return   Normalmente se pueden deducir gastos por asuntos legales pagados, o en los que haya incurrido, para producir o cobrar ingresos sujetos a impuestos o relacionados con la determinación, el cobro o el reembolso de algún impuesto. 2008 amended tax return   Los gastos por asuntos legales por el cobro de la parte sujeta a impuestos de sus beneficios son deducibles como una deducción miscelánea detallada en la línea 23 del Anexo A (Formulario 1040). 2008 amended tax return Reintegros Superiores a los Beneficios Brutos En algunas situaciones, el Formulario SSA-1099 o el Formulario RRB-1099 mostrará que el total de los beneficios reintegrados (recuadro 4) es superior a los beneficios brutos (recuadro 3) recibidos. 2008 amended tax return Si esto ocurre, los beneficios netos del recuadro 5 serán una cifra negativa (una cifra entre paréntesis) y ninguna parte de los beneficios estará sujeta a impuestos. 2008 amended tax return No use una hoja de trabajo en este caso. 2008 amended tax return Si recibe más de un formulario, una cifra negativa en el recuadro 5 de un formulario compensa una cifra positiva en el recuadro 5 de otro formulario para ese mismo año. 2008 amended tax return Si tiene alguna duda acerca de esta cifra negativa, comuníquese con la oficina local de la SSA o la oficina regional de la RRB. 2008 amended tax return Declaración conjunta. 2008 amended tax return   Si usted y su cónyuge presentan una declaración conjunta y su Formulario SSA-1099 o RRB-1099 tiene una cifra negativa en el recuadro 5, pero la de su cónyuge no, reste la cantidad del recuadro 5 de su formulario de la cantidad del recuadro 5 del formulario de su cónyuge. 2008 amended tax return Esto se hace para obtener los beneficios netos al calcular si está sujeta a impuestos la suma de sus beneficios y los de su cónyuge. 2008 amended tax return Ejemplo. 2008 amended tax return Juan y María presentan una declaración conjunta para el año 2013. 2008 amended tax return Juan recibió el Formulario SSA-1099 que muestra $3,000 en el recuadro 5. 2008 amended tax return María también recibió el Formulario SSA-1099 y la cantidad en el recuadro 5 fue ($500). 2008 amended tax return Juan y María anotarán $2,500 ($3,000 menos $500) en concepto de beneficios netos al calcular si alguna parte de la suma de sus beneficios está sujeta a impuestos. 2008 amended tax return Reintegro de beneficios recibidos en un año anterior. 2008 amended tax return   Si la cantidad total que aparece en el recuadro 5 de todos los Formularios SSA-1099 y RRB-1099 es una cifra negativa, puede declarar una deducción detallada por la parte de esta cifra negativa que representa los beneficios que usted incluyó en el ingreso bruto de un año anterior. 2008 amended tax return Deducción de $3,000 o menos. 2008 amended tax return   Si esta deducción es $3,000 o menos, está sujeta al límite del 2% del ingreso bruto ajustado que corresponde a ciertas deducciones misceláneas detalladas. 2008 amended tax return Reclámela en la línea 23 del Anexo A (Formulario 1040). 2008 amended tax return Deducción de más de $3,000. 2008 amended tax return    Si esta deducción es superior a $3,000, usted debe calcular el impuesto de dos maneras: Calcule el impuesto para el año 2013 con la deducción detallada incluida en la línea 28 del Anexo A. 2008 amended tax return Calcule el impuesto para el año 2013 en los pasos siguientes: Calcule el impuesto sin la deducción detallada incluida en la línea 28 del Anexo A. 2008 amended tax return Para cada año después de 1983 para el cual una parte de la cifra negativa representa un reintegro de beneficios, vuelva a calcular los beneficios sujetos a impuestos como si el total de éstos para el año hubiera sido reducido por aquella parte de la cifra negativa. 2008 amended tax return Luego, vuelva a calcular el impuesto para ese año. 2008 amended tax return Reste el total de las cantidades de impuestos recalculadas en el apartado (b) del total de las cantidades de impuestos reales. 2008 amended tax return Reste el resultado del apartado (c) del resultado del apartado (a). 2008 amended tax return Compare el impuesto calculado con los métodos (1) y (2). 2008 amended tax return Su impuesto para el año 2013 es la menor de las dos cantidades. 2008 amended tax return Si el método (1) genera menos impuestos, declare la deducción detallada en la línea 28 del Anexo A (Formulario 1040). 2008 amended tax return Si el método (2) genera menos impuestos, tome un crédito por la cantidad del paso 2(c), indicado anteriormente, en la línea 71 del Formulario 1040. 2008 amended tax return Marque el recuadro d y escriba “ I. 2008 amended tax return R. 2008 amended tax return C. 2008 amended tax return 1341 ” en el espacio al lado de ese recuadro. 2008 amended tax return Si ambos métodos generan el mismo impuesto, deduzca el reintegro de la línea 28 del Anexo A (Formulario 1040). 2008 amended tax return Prev  Up  Next   Home   More Online Publications
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The 2008 Amended Tax Return

2008 amended tax return 2. 2008 amended tax return   Taxable and Nontaxable Income Table of Contents Compensation for Services Retirement Plan DistributionsIndividual Retirement Arrangements (IRAs) Pensions and Annuities Social Security and Equivalent Railroad Retirement BenefitsAre Any of Your Benefits Taxable? How Much Is Taxable? How To Report Your Benefits Lump-Sum Election Repayments More Than Gross Benefits Sickness and Injury BenefitsDisability Pensions Long-Term Care Insurance Contracts Workers' Compensation Other Sickness and Injury Benefits Life Insurance ProceedsInstallments for life. 2008 amended tax return Surviving spouse. 2008 amended tax return Endowment Contract Proceeds Accelerated Death Benefits Sale of HomeMaximum Amount of Exclusion Ownership and Use Tests Married Persons Business Use or Rental of Home Reporting the Sale Reverse Mortgages Other ItemsWelfare benefits. 2008 amended tax return Payments from a state fund for victims of crime. 2008 amended tax return Home Affordable Modification Program (HAMP). 2008 amended tax return Mortgage assistance payments. 2008 amended tax return Payments to reduce cost of winter energy use. 2008 amended tax return Nutrition Program for the Elderly. 2008 amended tax return Reemployment Trade Adjustment Assistance (RTAA). 2008 amended tax return Generally, income is taxable unless it is specifically exempt (not taxed) by law. 2008 amended tax return Your taxable income may include compensation for services, interest, dividends, rents, royalties, income from partnerships, estate or trust income, gain from sales or exchanges of property, and business income of all kinds. 2008 amended tax return Under special provisions of the law, certain items are partially or fully exempt from tax. 2008 amended tax return Provisions that are of special interest to older taxpayers are discussed in this chapter. 2008 amended tax return Compensation for Services Generally, you must include in gross income everything you receive in payment for personal services. 2008 amended tax return In addition to wages, salaries, commissions, fees, and tips, this includes other forms of compensation such as fringe benefits and stock options. 2008 amended tax return You need not receive the compensation in cash for it to be taxable. 2008 amended tax return Payments you receive in the form of goods or services generally must be included in gross income at their fair market value. 2008 amended tax return Volunteer work. 2008 amended tax return   Do not include in your gross income amounts you receive for supportive services or reimbursements for out-of-pocket expenses under any of the following volunteer programs. 2008 amended tax return Retired Senior Volunteer Program (RSVP). 2008 amended tax return Foster Grandparent Program. 2008 amended tax return Senior Companion Program. 2008 amended tax return Service Corps of Retired Executives (SCORE). 2008 amended tax return Unemployment compensation. 2008 amended tax return   You must include in income all unemployment compensation you or your spouse (if married filing jointly) received. 2008 amended tax return More information. 2008 amended tax return   See Publication 525, Taxable and Nontaxable Income, for more detailed information on specific types of income. 2008 amended tax return Retirement Plan Distributions This section summarizes the tax treatment of amounts you receive from traditional individual retirement arrangements (IRA), employee pensions or annuities, and disability pensions or annuities. 2008 amended tax return A traditional IRA is any IRA that is not a Roth or SIMPLE IRA. 2008 amended tax return A Roth IRA is an individual retirement plan that can be either an account or an annuity and features nondeductible contributions and tax-free distributions. 2008 amended tax return A SIMPLE IRA is a tax-favored retirement plan that certain small employers (including self-employed individuals) can set up for the benefit of their employees. 2008 amended tax return More detailed information can be found in Publication 590, Individual Retirement Arrangements (IRAs), and Publication 575, Pension and Annuity Income. 2008 amended tax return Individual Retirement Arrangements (IRAs) In general, distributions from a traditional IRA are taxable in the year you receive them. 2008 amended tax return Exceptions to the general rule are rollovers, tax-free withdrawals of contributions, and the return of nondeductible contributions. 2008 amended tax return These are discussed in Publication 590. 2008 amended tax return If you made nondeductible contributions to a traditional IRA, you must file Form 8606, Nondeductible IRAs. 2008 amended tax return If you do not file Form 8606 with your return, you may have to pay a $50 penalty. 2008 amended tax return Also, when you receive distributions from your traditional IRA, the amounts will be taxed unless you can show, with satisfactory evidence, that nondeductible contributions were made. 2008 amended tax return Early distributions. 2008 amended tax return   Generally, early distributions are amounts distributed from your traditional IRA account or annuity before you are age 59½, or amounts you receive when you cash in retirement bonds before you are age  59½. 2008 amended tax return You must include early distributions of taxable amounts in your gross income. 2008 amended tax return These taxable amounts are also subject to an additional 10% tax unless the distribution qualifies for an exception. 2008 amended tax return For purposes of the additional 10% tax, an IRA is a qualified retirement plan. 2008 amended tax return For more information about this tax, see Tax on Early Distributions under Pensions and Annuities, later. 2008 amended tax return After age 59½ and before age 70½. 2008 amended tax return   After you reach age 59½, you can receive distributions from your traditional IRA without having to pay the 10% additional tax. 2008 amended tax return Even though you can receive distributions after you reach age 59½, distributions are not required until you reach  age 70½. 2008 amended tax return Required distributions. 2008 amended tax return   If you are the owner of a traditional IRA, you generally must receive the entire balance in your IRA or start receiving periodic distributions from your IRA by April 1 of the year following the year in which you reach age 70½. 2008 amended tax return See When Must You Withdraw Assets? (Required Minimum Distributions) in Publication 590. 2008 amended tax return If distributions from your traditional IRA(s) are less than the required minimum distribution for the year, you may have to pay a 50% excise tax for that year on the amount not distributed as required. 2008 amended tax return For purposes of the 50% excise tax, an IRA is a qualified retirement plan. 2008 amended tax return For more information about this tax, see Tax on Excess Accumulation under Pensions and Annuities, later. 2008 amended tax return See also Excess Accumulations (Insufficient Distributions) in Publication 590. 2008 amended tax return Pensions and Annuities Generally, if you did not pay any part of the cost of your employee pension or annuity, and your employer did not withhold part of the cost of the contract from your pay while you worked, the amounts you receive each year are fully taxable. 2008 amended tax return However, see Insurance Premiums for Retired Public Safety Officers , later. 2008 amended tax return If you paid part of the cost of your pension or annuity plan (see Cost , later), you can exclude part of each annuity payment from income as a recovery of your cost (investment in the contract). 2008 amended tax return This tax-free part of the payment is figured when your annuity starts and remains the same each year, even if the amount of the payment changes. 2008 amended tax return The rest of each payment is taxable. 2008 amended tax return However, see Insurance Premiums for Retired Public Safety Officers , later. 2008 amended tax return You figure the tax-free part of the payment using one of the following methods. 2008 amended tax return Simplified Method. 2008 amended tax return You generally must use this method if your annuity is paid under a qualified plan (a qualified employee plan, a qualified employee annuity, or a tax-sheltered annuity plan or contract). 2008 amended tax return You cannot use this method if your annuity is paid under a nonqualified plan. 2008 amended tax return General Rule. 2008 amended tax return You must use this method if your annuity is paid under a nonqualified plan. 2008 amended tax return You generally cannot use this method if your annuity is paid under a qualified plan. 2008 amended tax return Contact your employer or plan administrator to find out if your pension or annuity is paid under a qualified or nonqualified plan. 2008 amended tax return You determine which method to use when you first begin receiving your annuity, and you continue using it each year that you recover part of your cost. 2008 amended tax return Exclusion limit. 2008 amended tax return   If your annuity starting date is after 1986, the total amount of annuity income you can exclude over the years as a recovery of the cost cannot exceed your total cost. 2008 amended tax return Any unrecovered cost at your (or the last annuitant's) death is allowed as a miscellaneous itemized deduction on the final return of the decedent. 2008 amended tax return This deduction is not subject to the 2%-of-adjusted-gross-income limit on miscellaneous deductions. 2008 amended tax return   If you contributed to your pension or annuity and your annuity starting date is before 1987, you can continue to take your monthly exclusion for as long as you receive your annuity. 2008 amended tax return If you chose a joint and survivor annuity, your survivor can continue to take the survivor's exclusion figured as of the annuity starting date. 2008 amended tax return The total exclusion may be more than your cost. 2008 amended tax return Cost. 2008 amended tax return   Before you can figure how much, if any, of your pension or annuity benefits are taxable, you must determine your cost in the plan (your investment in the contract). 2008 amended tax return Your total cost in the plan includes everything that you paid. 2008 amended tax return It also includes amounts your employer contributed that were taxable to you when paid. 2008 amended tax return However, see Foreign employment contributions , later. 2008 amended tax return   From this total cost, subtract any refunded premiums, rebates, dividends, unrepaid loans, or other tax-free amounts you received by the later of the annuity starting date or the date on which you received your first payment. 2008 amended tax return   The annuity starting date is the later of the first day of the first period for which you received a payment from the plan or the date on which the plan's obligations became fixed. 2008 amended tax return    The amount of your contributions to the plan may be shown in box 9b of any Form 1099-R, Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. 2008 amended tax return , that you receive. 2008 amended tax return Foreign employment contributions. 2008 amended tax return   If you worked abroad, certain amounts your employer paid into your retirement plan that were not includible in your gross income may be considered part of your cost. 2008 amended tax return For details, see Foreign employment contributions in Publication 575. 2008 amended tax return Withholding. 2008 amended tax return   The payer of your pension, profit-sharing, stock bonus, annuity, or deferred compensation plan will withhold income tax on the taxable part of amounts paid to you. 2008 amended tax return However, you can choose not to have tax withheld on the payments you receive, unless they are eligible rollover distributions. 2008 amended tax return (These are distributions that are eligible for rollover treatment but are not paid directly to another qualified retirement plan or to a traditional IRA. 2008 amended tax return ) See Withholding Tax and Estimated Tax and Rollovers in Publication 575 for more information. 2008 amended tax return   For payments other than eligible rollover distributions, you can tell the payer how much to withhold by filing a Form W-4P, Withholding Certificate for Pension or Annuity Payments. 2008 amended tax return Simplified Method. 2008 amended tax return   Under the Simplified Method, you figure the tax-free part of each annuity payment by dividing your cost by the total number of anticipated monthly payments. 2008 amended tax return For an annuity that is payable over the lives of the annuitants, this number is based on the annuitants' ages on the annuity starting date and is determined from a table. 2008 amended tax return For any other annuity, this number is the number of monthly annuity payments under the contract. 2008 amended tax return Who must use the Simplified Method. 2008 amended tax return   You must use the Simplified Method if your annuity starting date is after November 18, 1996, and you receive your pension or annuity payments from a qualified plan or annuity, unless you were at least 75 years old and entitled to at least 5 years of guaranteed payments (defined next). 2008 amended tax return   In addition, if your annuity starting date is after July 1, 1986, and before November 19, 1996, you could have chosen to use the Simplified Method for payments from a qualified plan, unless you were at least 75 years old and entitled to at least 5 years of guaranteed payments. 2008 amended tax return If you chose to use the Simplified Method, you must continue to use it each year that you recover part of your cost. 2008 amended tax return Guaranteed payments. 2008 amended tax return   Your annuity contract provides guaranteed payments if a minimum number of payments or a minimum amount (for example, the amount of your investment) is payable even if you and any survivor annuitant do not live to receive the minimum. 2008 amended tax return If the minimum amount is less than the total amount of the payments you are to receive, barring death, during the first 5 years after payments begin (figured by ignoring any payment increases), you are entitled to less than 5 years of guaranteed payments. 2008 amended tax return Who cannot use the Simplified Method. 2008 amended tax return   You cannot use the Simplified Method and must use the General Rule if you receive pension or annuity payments from: A nonqualified plan, such as a private annuity, a purchased commercial annuity, or a nonqualified employee plan, or A qualified plan if you are age 75 or older on your annuity starting date and you are entitled to at least 5 years of guaranteed payments (defined above). 2008 amended tax return   In addition, you had to use the General Rule for either circumstance described above if your annuity starting date is after July 1, 1986, and before November 19, 1996. 2008 amended tax return If you did not have to use the General Rule, you could have chosen to use it. 2008 amended tax return You also had to use the General Rule for payments from a qualified plan if your annuity starting date is before July 2, 1986, and you did not qualify to use the Three-Year Rule. 2008 amended tax return   If you had to use the General Rule (or chose to use it), you must continue to use it each year that you recover your cost. 2008 amended tax return   Unless your annuity starting date was before 1987, once you have recovered all of your non-taxable investment, all of each remaining payment you receive is fully taxable. 2008 amended tax return Once your remaining payments are fully taxable, there is no longer a concern with the General Rule or Simplified Method. 2008 amended tax return   Complete information on the General Rule, including the actuarial tables you need, is contained in Publication 939, General Rule for Pensions and Annuities. 2008 amended tax return How to use the Simplified Method. 2008 amended tax return   Complete the Simplified Method Worksheet in the Form 1040, Form 1040A, or Form 1040NR instructions or in Publication 575 to figure your taxable annuity for 2013. 2008 amended tax return Be sure to keep the completed worksheet; it will help you figure your taxable annuity next year. 2008 amended tax return   To complete line 3 of the worksheet, you must determine the total number of expected monthly payments for your annuity. 2008 amended tax return How you do this depends on whether the annuity is for a single life, multiple lives, or a fixed period. 2008 amended tax return For this purpose, treat an annuity that is payable over the life of an annuitant as payable for that annuitant's life even if the annuity has a fixed-period feature or also provides a temporary annuity payable to the annuitant's child under age 25. 2008 amended tax return    You do not need to complete line 3 of the worksheet or make the computation on line 4 if you received annuity payments last year and used last year's worksheet to figure your taxable annuity. 2008 amended tax return Instead, enter the amount from line 4 of last year's worksheet on line 4 of this year's worksheet. 2008 amended tax return Single-life annuity. 2008 amended tax return   If your annuity is payable for your life alone, use Table 1 at the bottom of the worksheet to determine the total number of expected monthly payments. 2008 amended tax return Enter on line 3 the number shown for your age on your annuity starting date. 2008 amended tax return This number will differ depending on whether your annuity starting date is before November 19, 1996, or after November 18, 1996. 2008 amended tax return Multiple-lives annuity. 2008 amended tax return   If your annuity is payable for the lives of more than one annuitant, use Table 2 at the bottom of the worksheet to determine the total number of expected monthly payments. 2008 amended tax return Enter on line 3 the number shown for the annuitants' combined ages on the annuity starting date. 2008 amended tax return For an annuity payable to you as the primary annuitant and to more than one survivor annuitant, combine your age and the age of the youngest survivor annuitant. 2008 amended tax return For an annuity that has no primary annuitant and is payable to you and others as survivor annuitants, combine the ages of the oldest and youngest annuitants. 2008 amended tax return Do not treat as a survivor annuitant anyone whose entitlement to payments depends on an event other than the primary annuitant's death. 2008 amended tax return   However, if your annuity starting date is before 1998, do not use Table 2 and do not combine the annuitants' ages. 2008 amended tax return Instead, you must use Table 1 at the bottom of the worksheet and enter on line 3 the number shown for the primary annuitant's age on the annuity starting date. 2008 amended tax return This number will differ depending on whether your annuity starting date is before November 19, 1996, or after November 18, 1996. 2008 amended tax return Fixed-period annuities. 2008 amended tax return   If your annuity does not depend in whole or in part on anyone's life expectancy, the total number of expected monthly payments to enter on line 3 of the worksheet is the number of monthly annuity payments under the contract. 2008 amended tax return Line 6. 2008 amended tax return   The amount on line 6 should include all amounts that could have been recovered in prior years. 2008 amended tax return If you did not recover an amount in a prior year, you may be able to amend your returns for the affected years. 2008 amended tax return    Be sure to keep a copy of the completed worksheet; it will help you figure your taxable annuity in later years. 2008 amended tax return Example. 2008 amended tax return Bill Smith, age 65, began receiving retirement benefits in 2013, under a joint and survivor annuity. 2008 amended tax return Bill's annuity starting date is January 1, 2013. 2008 amended tax return The benefits are to be paid over the joint lives of Bill and his wife, Kathy, age 65. 2008 amended tax return Bill had contributed $31,000 to a qualified plan and had received no distributions before the annuity starting date. 2008 amended tax return Bill is to receive a retirement benefit of $1,200 a month, and Kathy is to receive a monthly survivor benefit of $600 upon Bill's death. 2008 amended tax return Bill must use the Simplified Method to figure his taxable annuity because his payments are from a qualified plan and he is under age 75. 2008 amended tax return See the illustrated Worksheet 2-A, Simplified Method Worksheet, later. 2008 amended tax return You can find a blank version of this worksheet in Publication 575. 2008 amended tax return (The references in the illustrated worksheet are to sections in Publication 575). 2008 amended tax return His annuity is payable over the lives of more than one annuitant, so Bill uses his and Kathy's combined ages, 130 (65 + 65), and Table 2 at the bottom of the worksheet in completing line 3 of the worksheet and finds the line 3 amount to be 310. 2008 amended tax return Bill's tax-free monthly amount is $100 ($31,000 ÷ 310 as shown on line 4 of the worksheet). 2008 amended tax return Upon Bill's death, if Bill has not recovered the full $31,000 investment, Kathy will also exclude $100 from her $600 monthly payment. 2008 amended tax return The full amount of any annuity payments received after 310 payments are paid must generally be included in gross income. 2008 amended tax return If Bill and Kathy die before 310 payments are made, a miscellaneous itemized deduction will be allowed for the unrecovered cost on the final income tax return of the last to die. 2008 amended tax return This deduction is not subject to the 2%-of-adjusted-gross-income limit. 2008 amended tax return Worksheet 2-A. 2008 amended tax return Simplified Method Worksheet—Illustrated 1. 2008 amended tax return Enter the total pension or annuity payments received this year. 2008 amended tax return Also, add this amount to the total for Form 1040, line 16a; Form 1040A, line 12a; or Form 1040NR, line 17a 1. 2008 amended tax return $ 14,400 2. 2008 amended tax return Enter your cost in the plan (contract) at the annuity starting date plus any death benefit exclusion* See Cost (Investment in the Contract), earlier 2. 2008 amended tax return 31,000   Note. 2008 amended tax return If your annuity starting date was before this year and you completed this worksheet last year, skip line 3 and enter the amount from line 4 of last year's worksheet on line 4 below (even if the amount of your pension or annuity has changed). 2008 amended tax return Otherwise, go to line 3. 2008 amended tax return     3. 2008 amended tax return Enter the appropriate number from Table 1 below. 2008 amended tax return But if your annuity starting date was after 1997 and the payments are for your life and that of your beneficiary, enter the appropriate number from Table 2 below 3. 2008 amended tax return 310 4. 2008 amended tax return Divide line 2 by the number on line 3 4. 2008 amended tax return 100 5. 2008 amended tax return Multiply line 4 by the number of months for which this year's payments were made. 2008 amended tax return If your annuity starting date was before 1987, enter this amount on line 8 below and skip lines 6, 7, 10, and 11. 2008 amended tax return Otherwise, go to line 6 5. 2008 amended tax return 1,200 6. 2008 amended tax return Enter any amount previously recovered tax free in years after 1986. 2008 amended tax return This is the amount shown on line 10 of your worksheet for last year 6. 2008 amended tax return 0 7. 2008 amended tax return Subtract line 6 from line 2 7. 2008 amended tax return 31,000 8. 2008 amended tax return Enter the smaller of line 5 or line 7 8. 2008 amended tax return 1,200 9. 2008 amended tax return Taxable amount for year. 2008 amended tax return Subtract line 8 from line 1. 2008 amended tax return Enter the result, but not less than zero. 2008 amended tax return Also, add this amount to the total for Form 1040, line 16b; Form 1040A, line 12b; or Form 1040NR, line 17b. 2008 amended tax return Note. 2008 amended tax return If your Form 1099-R shows a larger taxable amount, use the amount figured on this line instead. 2008 amended tax return If you are a retired public safety officer, see Insurance Premiums for Retired Public Safety Officers, earlier, before entering an amount on your tax return. 2008 amended tax return 9. 2008 amended tax return $ 13,200 10. 2008 amended tax return Was your annuity starting date before 1987? □ Yes. 2008 amended tax return STOP. 2008 amended tax return Do not complete the rest of this worksheet. 2008 amended tax return  ☑ No. 2008 amended tax return Add lines 6 and 8. 2008 amended tax return This is the amount you have recovered tax free through 2013. 2008 amended tax return You will need this number if you need to fill out this worksheet next year. 2008 amended tax return 10. 2008 amended tax return 1,200 11. 2008 amended tax return Balance of cost to be recovered. 2008 amended tax return Subtract line 10 from line 2. 2008 amended tax return If zero, you will not have to complete this worksheet next year. 2008 amended tax return The payments you receive next year will generally be fully taxable 11. 2008 amended tax return $ 29,800 * A death benefit exclusion (up to $5,000) applied to certain benefits received by employees who died before August 21, 1996. 2008 amended tax return   Table 1 for Line 3 Above       AND your annuity starting date was—   IF your age on your annuity starting date was . 2008 amended tax return . 2008 amended tax return . 2008 amended tax return   BEFORE November 19, 1996, enter on line 3 . 2008 amended tax return . 2008 amended tax return . 2008 amended tax return AFTER November 18, 1996, enter on line 3 . 2008 amended tax return . 2008 amended tax return . 2008 amended tax return   55 or under 300 360   56-60 260 310   61-65 240 260   66-70 170 210   71 or over 120 160 Table 2 for Line 3 Above   IF the annuitants' combined ages on your annuity starting date were . 2008 amended tax return . 2008 amended tax return . 2008 amended tax return   THEN enter on line 3 . 2008 amended tax return . 2008 amended tax return . 2008 amended tax return         110 or under   410         111-120   360         121-130   310         131-140   260         141 or over   210       Survivors of retirees. 2008 amended tax return   Benefits paid to you as a survivor under a joint and survivor annuity must be included in your gross income in the same way the retiree would have included them in gross income. 2008 amended tax return   If you receive a survivor annuity because of the death of a retiree who had reported the annuity under the Three-Year Rule, include the total received in your income. 2008 amended tax return The retiree's cost has already been recovered tax free. 2008 amended tax return   If the retiree was reporting the annuity payments under the General Rule, you must apply the same exclusion percentage the retiree used to your initial payment called for in the contract. 2008 amended tax return The resulting tax-free amount will then remain fixed. 2008 amended tax return Any increases in the survivor annuity are fully taxable. 2008 amended tax return   If the retiree was reporting the annuity payments under the Simplified Method, the part of each payment that is tax free is the same as the tax-free amount figured by the retiree at the annuity starting date. 2008 amended tax return See Simplified Method , earlier. 2008 amended tax return How to report. 2008 amended tax return   If you file Form 1040, report your total annuity on line 16a, and the taxable part on line 16b. 2008 amended tax return If your pension or annuity is fully taxable, enter it on line 16b. 2008 amended tax return Do not make an entry on line 16a. 2008 amended tax return   If you file Form 1040A, report your total annuity on line 12a, and the taxable part on line 12b. 2008 amended tax return If your pension or annuity is fully taxable, enter it on line 12b. 2008 amended tax return Do not make an entry on line 12a. 2008 amended tax return   If you file Form 1040NR, report your total annuity on line 17a, and the taxable part on line 17b. 2008 amended tax return If your pension or annuity is fully taxable, enter it on line 17b. 2008 amended tax return Do not make an entry on line 17a. 2008 amended tax return Example. 2008 amended tax return You are a Form 1040 filer and you received monthly payments totaling $1,200 (12 months x $100) during 2013 from a pension plan that was completely financed by your employer. 2008 amended tax return You had paid no tax on the payments that your employer made to the plan, and the payments were not used to pay for accident, health, or long-term care insurance premiums (as discussed later under Insurance Premiums for Retired Public Safety Officers ). 2008 amended tax return The entire $1,200 is taxable. 2008 amended tax return You include $1,200 only on Form 1040, line 16b. 2008 amended tax return Joint return. 2008 amended tax return   If you file a joint return and you and your spouse each receive one or more pensions or annuities, report the total of the pensions and annuities on line 16a of Form 1040, line 12a of Form 1040A, or line 17a of Form 1040NR. 2008 amended tax return Report the total of the taxable parts on line 16b of Form 1040, line 12b of Form 1040A, or line 17b of Form 1040NR. 2008 amended tax return Form 1099-R. 2008 amended tax return   You should receive a Form 1099-R for your pension or annuity. 2008 amended tax return Form 1099-R shows your pension or annuity for the year and any income tax withheld. 2008 amended tax return You should receive a Form W-2 if you receive distributions from certain nonqualified plans. 2008 amended tax return You must attach Forms 1099-R or Forms W-2 to your 2013 tax return if federal income tax was withheld. 2008 amended tax return Generally, you should be sent these forms by January 31, 2014. 2008 amended tax return Nonperiodic Distributions If you receive a nonperiodic distribution from your retirement plan, you may be able to exclude all or part of it from your income as a recovery of your cost. 2008 amended tax return Nonperiodic distributions include cash withdrawals, distributions of current earnings (dividends) on your investment, and certain loans. 2008 amended tax return For information on how to figure the taxable amount of a nonperiodic distribution, see Taxation of Nonperiodic Payments in Publication 575. 2008 amended tax return The taxable part of a nonperiodic distribution may be subject to an additional 10% tax. 2008 amended tax return See Tax on Early Distributions, later. 2008 amended tax return Lump-sum distributions. 2008 amended tax return   If you receive a lump-sum distribution from a qualified employee plan or qualified employee annuity and the plan participant was born before January 2, 1936, you may be able to elect optional methods of figuring the tax on the distribution. 2008 amended tax return The part from active participation in the plan before 1974 may qualify as capital gain subject to a 20% tax rate. 2008 amended tax return The part from participation after 1973 (and any part from participation before 1974 that you do not report as capital gain) is ordinary income. 2008 amended tax return You may be able to use the 10-year tax option to figure tax on the ordinary income part. 2008 amended tax return Form 1099-R. 2008 amended tax return   If you receive a total distribution from a plan, you should receive a Form 1099-R. 2008 amended tax return If the distribution qualifies as a lump-sum distribution, box 3 shows the capital gain part of the distribution. 2008 amended tax return The amount in box 2a, Taxable amount, minus the amount in box 3, Capital gain, is the ordinary income part. 2008 amended tax return More information. 2008 amended tax return   For more detailed information on lump-sum distributions, see Publication 575 or Form 4972, Tax on Lump-Sum Distributions. 2008 amended tax return Tax on Early Distributions Most distributions you receive from your qualified retirement plan and nonqualified annuity contracts before you reach age 59½ are subject to an additional tax of 10%. 2008 amended tax return The tax applies to the taxable part of the distribution. 2008 amended tax return For this purpose, a qualified retirement plan is: A qualified employee plan (including a qualified cash or deferred arrangement (CODA) under Internal Revenue Code section 401(k)), A qualified employee annuity plan, A tax-sheltered annuity plan (403(b) plan), or An eligible state or local government section 457 deferred compensation plan (to the extent that any distribution is attributable to amounts the plan received in a direct transfer or rollover from one of the other plans listed here or an IRA). 2008 amended tax return  An IRA is also a qualified retirement plan for purposes of this tax. 2008 amended tax return General exceptions to tax. 2008 amended tax return   The early distribution tax does not apply to any distributions that are: Made as part of a series of substantially equal periodic payments (made at least annually) for your life (or life expectancy) or the joint lives (or joint life expectancies) of you and your designated beneficiary (if from a qualified retirement plan, the payments must begin after separation from service), Made because you are totally and permanently disabled, or Made on or after the death of the plan participant or contract holder. 2008 amended tax return Additional exceptions. 2008 amended tax return   There are additional exceptions to the early distribution tax for certain distributions from qualified retirement plans and nonqualified annuity contracts. 2008 amended tax return See Publication 575 for details. 2008 amended tax return Reporting tax. 2008 amended tax return   If you owe only the tax on early distributions and distribution code 1 (early distribution, no known exception) is correctly shown in Form 1099-R, box 7, multiply the taxable part of the early distribution by 10% (. 2008 amended tax return 10) and enter the result on Form 1040, line 58, or Form 1040NR, line 56. 2008 amended tax return See the instructions for line 58 of Form 1040 or line 56 of Form 1040NR for more information about reporting the early distribution tax. 2008 amended tax return Tax on Excess Accumulation To make sure that most of your retirement benefits are paid to you during your lifetime, rather than to your beneficiaries after your death, the payments that you receive from qualified retirement plans must begin no later than your required beginning date. 2008 amended tax return Unless the rule for 5% owners applies, this is generally April 1 of the year that follows the later of: The calendar year in which you reach age 70½, or The calendar year in which you retire from employment with the employer maintaining the plan. 2008 amended tax return However, your plan may require you to begin to receive payments by April 1 of the year that follows the year in which you reach 70½, even if you have not retired. 2008 amended tax return For this purpose, a qualified retirement plan includes: A qualified employee plan, A qualified employee annuity plan, An eligible section 457 deferred compensation plan, or A tax-sheltered annuity plan (403(b) plan) (for benefits accruing after 1986). 2008 amended tax return  An IRA is also a qualified retirement plan for purposes of this tax. 2008 amended tax return An excess accumulation is the undistributed remainder of the required minimum distribution that was left in your qualified retirement plan. 2008 amended tax return 5% owners. 2008 amended tax return   If you own (or are considered to own under section 318 of the Internal Revenue Code) more than 5% of the company maintaining your qualified retirement plan, you must begin to receive distributions from the plan by April 1 of the year after the calendar year in which you reach age 70½. 2008 amended tax return See Publication 575 for more information. 2008 amended tax return Amount of tax. 2008 amended tax return   If you do not receive the required minimum distribution, you are subject to an additional tax. 2008 amended tax return The tax equals 50% of the difference between the amount that must be distributed and the amount that was distributed during the tax year. 2008 amended tax return You can get this excise tax excused if you establish that the shortfall in distributions was due to reasonable error and that you are taking reasonable steps to remedy the shortfall. 2008 amended tax return Form 5329. 2008 amended tax return   You must file a Form 5329 if you owe a tax because you did not receive a minimum required distribution from your qualified retirement plan. 2008 amended tax return Additional information. 2008 amended tax return   For more detailed information on the tax on excess accumulation, see Publication 575. 2008 amended tax return Insurance Premiums for Retired Public Safety Officers If you are an eligible retired public safety officer (law enforcement officer, firefighter, chaplain, or member of a rescue squad or ambulance crew), you can elect to exclude from income distributions made from your eligible retirement plan that are used to pay the premiums for accident or health insurance or long-term care insurance. 2008 amended tax return The premiums can be for coverage for you, your spouse, or dependent(s). 2008 amended tax return The distribution must be made directly from the plan to the insurance provider. 2008 amended tax return You can exclude from income the smaller of the amount of the insurance premiums or $3,000. 2008 amended tax return You can only make this election for amounts that would otherwise be included in your income. 2008 amended tax return The amount excluded from your income cannot be used to claim a medical expense deduction. 2008 amended tax return An eligible retirement plan is a governmental plan that is a: Qualified trust, Section 403(a) plan, Section 403(b) annuity, or Section 457(b) plan. 2008 amended tax return If you make this election, reduce the otherwise taxable amount of your pension or annuity by the amount excluded. 2008 amended tax return The taxable amount shown in box 2a of any Form 1099-R that you receive does not reflect the exclusion. 2008 amended tax return Report your total distributions on Form 1040, line 16a; Form 1040A, line 12a; or Form 1040NR, line 17a. 2008 amended tax return Report the taxable amount on Form 1040, line 16b; Form 1040A, line 12b; or Form 1040NR, line 17b. 2008 amended tax return Enter “PSO” next to the appropriate line on which you report the taxable amount. 2008 amended tax return Railroad Retirement Benefits Benefits paid under the Railroad Retirement Act fall into two categories. 2008 amended tax return These categories are treated differently for income tax purposes. 2008 amended tax return Social security equivalent benefits. 2008 amended tax return   The first category is the amount of tier 1 railroad retirement benefits that equals the social security benefit that a railroad employee or beneficiary would have been entitled to receive under the social security system. 2008 amended tax return This part of the tier 1 benefit is the social security equivalent benefit (SSEB) and is treated for tax purposes like social security benefits. 2008 amended tax return (See Social Security and Equivalent Railroad Retirement Benefits , later. 2008 amended tax return ) Non-social security equivalent benefits. 2008 amended tax return   The second category contains the rest of the tier 1 benefits, called the non-social security equivalent benefit (NSSEB). 2008 amended tax return It also contains any tier 2 benefit, vested dual benefit (VDB), and supplemental annuity benefit. 2008 amended tax return This category of benefits is treated as an amount received from a qualified employee plan. 2008 amended tax return This allows for the tax-free (nontaxable) recovery of employee contributions from the tier 2 benefits and the NSSEB part of the tier 1 benefits. 2008 amended tax return Vested dual benefits and supplemental annuity benefits are non-contributory pensions and are fully taxable. 2008 amended tax return More information. 2008 amended tax return   For more information about railroad retirement benefits, see Publication 575. 2008 amended tax return Military Retirement Pay Military retirement pay based on age or length of service is taxable and must be included in income as a pension on Form 1040, lines 16a and 16b; on Form 1040A, lines 12a and 12b; or on Form 1040NR, lines 17a and 17b. 2008 amended tax return But, certain military and government disability pensions that are based on a percentage of disability from active service in the Armed Forces of any country generally are not taxable. 2008 amended tax return For more information, including information about veterans' benefits and insurance, see Publication 525. 2008 amended tax return Social Security and Equivalent Railroad Retirement Benefits This discussion explains the federal income tax rules for social security benefits and equivalent tier 1 railroad retirement benefits. 2008 amended tax return Social security benefits include monthly retirement, survivor, and disability benefits. 2008 amended tax return They do not include supplemental security income (SSI) payments, which are not taxable. 2008 amended tax return Equivalent tier 1 railroad retirement benefits are the part of tier 1 benefits that a railroad employee or beneficiary would have been entitled to receive under the social security system. 2008 amended tax return They commonly are called the social security equivalent benefit (SSEB) portion of tier 1 benefits. 2008 amended tax return If you received these benefits during 2013, you should have received a Form SSA-1099 or Form RRB-1099 (Form SSA-1042S or Form RRB-1042S if you are a nonresident alien), showing the amount of the benefits. 2008 amended tax return Are Any of Your Benefits Taxable? Note. 2008 amended tax return When the term “benefits” is used in this section, it applies to both social security benefits and the SSEB portion of tier 1 railroad retirement benefits. 2008 amended tax return  To find out whether any of your benefits may be taxable, compare the base amount for your filing status (explained later) with the total of: One-half of your benefits, plus All your other income, including tax-exempt interest. 2008 amended tax return When making this comparison, do not reduce your other income by any exclusions for: Interest from qualified U. 2008 amended tax return S. 2008 amended tax return savings bonds, Employer-provided adoption benefits, Foreign earned income or foreign housing, or Income earned in American Samoa or Puerto Rico by bona fide residents. 2008 amended tax return Figuring total income. 2008 amended tax return   To figure the total of one-half of your benefits plus your other income, use Worksheet 2-B. 2008 amended tax return If that total amount is more than your base amount, part of your benefits may be taxable. 2008 amended tax return If you are married and file a joint return for 2013, you and your spouse must combine your incomes and your benefits to figure whether any of your combined benefits are taxable. 2008 amended tax return Even if your spouse did not receive any benefits, you must add your spouse's income to yours to figure whether any of your benefits are taxable. 2008 amended tax return If the only income you received during 2013 was your social security or the SSEB portion of tier 1 railroad retirement benefits, your benefits generally are not taxable and you probably do not have to file a return. 2008 amended tax return If you have income in addition to your benefits, you may have to file a return even if none of your benefits are taxable. 2008 amended tax return Worksheet 2-B. 2008 amended tax return A Quick Way To Check if Your Benefits May Be Taxable A. 2008 amended tax return Enter the amount from box 5 of all your Forms SSA-1099 and RRB-1099. 2008 amended tax return Include  the full amount of any lump-sum benefit payments received in 2013, for 2013 and  earlier years. 2008 amended tax return (If you received more than one form, combine the amounts from box 5  and enter the total. 2008 amended tax return ) A. 2008 amended tax return     Note. 2008 amended tax return If the amount on line A is zero or less, stop here; none of your benefits are  taxable this year. 2008 amended tax return     B. 2008 amended tax return Enter one-half of the amount on line A B. 2008 amended tax return   C. 2008 amended tax return Enter your taxable pensions, wages, interest, dividends, and other taxable income C. 2008 amended tax return   D. 2008 amended tax return Enter any tax-exempt interest income (such as interest on municipal bonds) plus any exclusions from income for: •Interest from qualified U. 2008 amended tax return S. 2008 amended tax return savings bonds, •Employer-provided adoption benefits, •Foreign earned income or foreign housing, or •Income earned in American Samoa or Puerto Rico by bona fide residents D. 2008 amended tax return   E. 2008 amended tax return Add lines B, C, and D and enter the total E. 2008 amended tax return   F. 2008 amended tax return If you are: •Married filing jointly, enter $32,000 •Single, head of household, qualifying widow(er), or married filing separately and you  lived apart from your spouse for all of 2013, enter $25,000 •Married filing separately and you lived with your spouse at any time during 2013,  enter -0- F. 2008 amended tax return   G. 2008 amended tax return Is the amount on line F less than or equal to the amount on line E? □ No. 2008 amended tax return None of your benefits are taxable this year. 2008 amended tax return  □ Yes. 2008 amended tax return Some of your benefits may be taxable. 2008 amended tax return To figure how much of your benefits  are taxable, see Which worksheet to use under How Much Is Taxable. 2008 amended tax return     Base Amount Your base amount is: $25,000 if you are single, head of household, or qualifying widow(er) with dependent child, $25,000 if you are married filing separately and lived apart from your spouse for all of 2013, $32,000 if you are married filing jointly, or $0 if you are married filing separately and lived with your spouse at any time during 2013. 2008 amended tax return Repayment of Benefits Any repayment of benefits you made during 2013 must be subtracted from the gross benefits you received in 2013. 2008 amended tax return It does not matter whether the repayment was for a benefit you received in 2013 or in an earlier year. 2008 amended tax return If you repaid more than the gross benefits you received in 2013, see Repayments More Than Gross Benefits , later. 2008 amended tax return Your gross benefits are shown in box 3 of Form SSA-1099 or Form RRB-1099. 2008 amended tax return Your repayments are shown in box 4. 2008 amended tax return The amount in box 5 shows your net benefits for 2013 (box 3 minus box 4). 2008 amended tax return Use the amount in box 5 to figure whether any of your benefits are taxable. 2008 amended tax return Tax Withholding and Estimated Tax You can choose to have federal income tax withheld from your social security and/or the SSEB portion of your tier 1 railroad retirement benefits. 2008 amended tax return If you choose to do this, you must complete a Form W-4V, Voluntary Withholding Request. 2008 amended tax return If you do not choose to have income tax withheld, you may have to request additional withholding from other income, or pay estimated tax during the year. 2008 amended tax return For details, see Publication 505, Tax Withholding and Estimated Tax, or the instructions for Form 1040-ES, Estimated Tax for Individuals. 2008 amended tax return How Much Is Taxable? If part of your benefits is taxable, how much is taxable depends on the total amount of your benefits and other income. 2008 amended tax return Generally, the higher that total amount, the greater the taxable part of your benefits. 2008 amended tax return Maximum taxable part. 2008 amended tax return   The taxable part of your benefits usually cannot be more than 50%. 2008 amended tax return However, up to 85% of your benefits can be taxable if either of the following situations applies to you. 2008 amended tax return The total of one-half of your benefits and all your other income is more than $34,000 ($44,000 if you are married filing jointly). 2008 amended tax return You are married filing separately and lived with your spouse at any time during 2013. 2008 amended tax return   If you are a nonresident alien, 85% of your benefits are taxable. 2008 amended tax return However, this income is exempt under some tax treaties. 2008 amended tax return Which worksheet to use. 2008 amended tax return   A worksheet to figure your taxable benefits is in the instructions for your Form 1040 or 1040A. 2008 amended tax return However, you will need to use a different worksheet(s) if any of the following situations applies to you. 2008 amended tax return You contributed to a traditional individual retirement arrangement (IRA) and you or your spouse were covered by a retirement plan at work. 2008 amended tax return In this situation, you must use the special worksheets in Appendix B of Publication 590 to figure both your IRA deduction and your taxable benefits. 2008 amended tax return Situation (1) does not apply and you take one or more of the following exclusions. 2008 amended tax return Interest from qualified U. 2008 amended tax return S. 2008 amended tax return savings bonds (Form 8815). 2008 amended tax return Employer-provided adoption benefits (Form 8839). 2008 amended tax return Foreign earned income or housing (Form 2555 or Form 2555-EZ). 2008 amended tax return Income earned in American Samoa (Form 4563) or Puerto Rico by bona fide residents. 2008 amended tax return In these situations, you must use Worksheet 1 in Publication 915, Social Security and Equivalent Railroad Retirement Benefits, to figure your taxable benefits. 2008 amended tax return You received a lump-sum payment for an earlier year. 2008 amended tax return In this situation, also complete Worksheet 2 or 3 and Worksheet 4 in Publication 915. 2008 amended tax return See Lump-Sum Election , later. 2008 amended tax return How To Report Your Benefits If part of your benefits are taxable, you must use Form 1040, Form 1040A, or Form 1040NR. 2008 amended tax return You cannot use Form 1040EZ. 2008 amended tax return Reporting on Form 1040. 2008 amended tax return   Report your net benefits (the amount in box 5 of your Form SSA-1099 or Form RRB-1099) on line 20a and the taxable part on line 20b. 2008 amended tax return If you are married filing separately and you lived apart from your spouse for all of 2013, also enter “D” to the right of the word “benefits” on line 20a. 2008 amended tax return Reporting on Form 1040A. 2008 amended tax return   Report your net benefits (the amount in box 5 of your Form SSA-1099 or Form RRB-1099) on line 14a and the taxable part on line 14b. 2008 amended tax return If you are married filing separately and you lived apart from your spouse for all of 2013, also enter “D” to the right of the word “benefits” on line 14a. 2008 amended tax return Reporting on Form 1040NR. 2008 amended tax return   Report 85% of the total amount of your benefits (box 5 of your Form SSA-1042S or Form RRB-1042S) in the appropriate column of Form 1040NR, Schedule NEC, line 8. 2008 amended tax return Benefits not taxable. 2008 amended tax return   If you are filing Form 1040EZ, do not report any benefits on your tax return. 2008 amended tax return If you are filing Form 1040 or Form 1040A, report your net benefits (the amount in box 5 of your Form SSA-1099 or Form RRB-1099) on Form 1040, line 20a, or Form 1040A, line 14a. 2008 amended tax return Enter -0- on Form 1040, line 20b, or Form 1040A, line 14b. 2008 amended tax return If you are married filing separately and you lived apart from your spouse for all of 2013, also enter “D” to the right of the word “benefits” on Form 1040, line 20a, or Form 1040A, line 14a. 2008 amended tax return Lump-Sum Election You must include the taxable part of a lump-sum (retroactive) payment of benefits received in 2013 in your 2013 income, even if the payment includes benefits for an earlier year. 2008 amended tax return This type of lump-sum benefit payment should not be confused with the lump-sum death benefit that both the SSA and RRB pay to many of their beneficiaries. 2008 amended tax return No part of the lump-sum death benefit is subject to tax. 2008 amended tax return For more information about the lump-sum death benefit, visit the Social Security Administration website at www. 2008 amended tax return SSA. 2008 amended tax return gov, and use keyword: death benefit. 2008 amended tax return Generally, you use your 2013 income to figure the taxable part of the total benefits received in 2013. 2008 amended tax return However, you may be able to figure the taxable part of a lump-sum payment for an earlier year separately, using your income for the earlier year. 2008 amended tax return You can elect this method if it lowers your taxable benefits. 2008 amended tax return See Publication 915 for more information. 2008 amended tax return Repayments More Than Gross Benefits In some situations, your Form SSA-1099 or Form RRB-1099 will show that the total benefits you repaid (box 4) are more than the gross benefits (box 3) you received. 2008 amended tax return If this occurred, your net benefits in box 5 will be a negative figure (a figure in parentheses) and none of your benefits will be taxable. 2008 amended tax return If you receive more than one form, a negative figure in box 5 of one form is used to offset a positive figure in box 5 of another form for that same year. 2008 amended tax return If you have any questions about this negative figure, contact your local Social Security Administration office or your local U. 2008 amended tax return S. 2008 amended tax return Railroad Retirement Board field office. 2008 amended tax return Joint return. 2008 amended tax return   If you and your spouse file a joint return, and your Form SSA-1099 or RRB-1099 has a negative figure in box 5 but your spouse's does not, subtract the box 5 amount on your form from the box 5 amount on your spouse's form. 2008 amended tax return You do this to get your net benefits when figuring if your combined benefits are taxable. 2008 amended tax return Repayment of benefits received in an earlier year. 2008 amended tax return   If the total amount shown in box 5 of all of your Forms SSA-1099 and RRB-1099 is a negative figure, you can take an itemized deduction for the part of this negative figure that represents benefits you included in gross income in an earlier year. 2008 amended tax return   If this deduction is $3,000 or less, it is subject to the 2%-of-adjusted-gross-income limit that applies to certain miscellaneous itemized deductions. 2008 amended tax return Claim it on Schedule A (Form 1040), line 23. 2008 amended tax return   If this deduction is more than $3,000, you have to follow some special instructions. 2008 amended tax return See Publication 915 for those instructions. 2008 amended tax return Sickness and Injury Benefits Generally, you must report as income any amount you receive for personal injury or sickness through an accident or health plan that is paid for by your employer. 2008 amended tax return If both you and your employer pay for the plan, only the amount you receive that is due to your employer's payments is reported as income. 2008 amended tax return However, certain payments may not be taxable to you. 2008 amended tax return Some of these payments are discussed later in this section. 2008 amended tax return Also, see Military and Government Disability Pensions and Other Sickness and Injury Benefits in Publication 525. 2008 amended tax return Cost paid by you. 2008 amended tax return   If you pay the entire cost of an accident or health plan, do not include any amounts you receive from the plan for personal injury or sickness as income on your tax return. 2008 amended tax return If your plan reimbursed you for medical expenses you deducted in an earlier year, you may have to include some, or all, of the reimbursement in your income. 2008 amended tax return Disability Pensions If you retired on disability, you must include in income any disability pension you receive under a plan that is paid for by your employer. 2008 amended tax return You must report your taxable disability payments as wages on line 7 of Form 1040 or Form 1040A or on line 8 of Form 1040NR until you reach minimum retirement age. 2008 amended tax return Minimum retirement age generally is the age at which you can first receive a pension or annuity if you are not disabled. 2008 amended tax return If you were 65 or older by the end of 2013 or you were retired on permanent and total disability and received taxable disability income, you may be able to claim the credit for the elderly or the disabled. 2008 amended tax return See Credit for the Elderly or the Disabled, later. 2008 amended tax return For more information on this credit, see Publication 524, Credit for the Elderly or the Disabled. 2008 amended tax return Beginning on the day after you reach minimum retirement age, payments you receive are taxable as a pension or annuity. 2008 amended tax return Report the payments on lines 16a and 16b of Form 1040, on lines 12a and 12b of Form 1040A, or on lines 17a and 17b of Form 1040NR. 2008 amended tax return For more information on pensions and annuities, see Publication 575. 2008 amended tax return Retirement and profit-sharing plans. 2008 amended tax return   If you receive payments from a retirement or profit-sharing plan that does not provide for disability retirement, do not treat the payments as a disability pension. 2008 amended tax return The payments must be reported as a pension or annuity. 2008 amended tax return Accrued leave payment. 2008 amended tax return   If you retire on disability, any lump-sum payment you receive for accrued annual leave is a salary payment. 2008 amended tax return The payment is not a disability payment. 2008 amended tax return Include it in your income in the tax year you receive it. 2008 amended tax return Long-Term Care Insurance Contracts In most cases, long-term care insurance contracts generally are treated as accident and health insurance contracts. 2008 amended tax return Amounts you receive from them (other than policyholder dividends or premium refunds) generally are excludable from income as amounts received for personal injury or sickness. 2008 amended tax return However, the amount you can exclude may be limited. 2008 amended tax return Long-term care insurance contracts are discussed in more detail in Publication 525. 2008 amended tax return Workers' Compensation Amounts you receive as workers' compensation for an occupational sickness or injury are fully exempt from tax if they are paid under a workers' compensation act or a statute in the nature of a workers' compensation act. 2008 amended tax return The exemption also applies to your survivors. 2008 amended tax return The exemption, however, does not apply to retirement plan benefits you receive based on your age, length of service, or prior contributions to the plan, even if you retired because of an occupational sickness or injury. 2008 amended tax return If part of your workers' compensation reduces your social security or equivalent railroad retirement benefits, that part is considered social security (or equivalent railroad retirement) benefits and may be taxable. 2008 amended tax return For a discussion of the taxability of these benefits, see Social Security and Equivalent Railroad Retirement Benefits, earlier. 2008 amended tax return Return to work. 2008 amended tax return   If you return to work after qualifying for workers' compensation, salary payments you receive for performing light duties are taxable as wages. 2008 amended tax return Other Sickness and Injury Benefits In addition to disability pensions and annuities, you may receive other payments for sickness or injury. 2008 amended tax return Federal Employees' Compensation Act (FECA). 2008 amended tax return   Payments received under this Act for personal injury or sickness, including payments to beneficiaries in case of death, are not taxable. 2008 amended tax return However, you are taxed on amounts you receive under this Act as continuation of pay for up to 45 days while a claim is being decided. 2008 amended tax return Report this income on Form 1040, line 7; Form 1040A, line 7; on Form 1040EZ, line 1; or Form 1040NR, line 8. 2008 amended tax return Also, pay for sick leave while a claim is being processed is taxable and must be included in your income as wages. 2008 amended tax return    If part of the payments you receive under FECA reduces your social security or equivalent railroad retirement benefits, that part is considered social security (or equivalent railroad retirement) benefits and may be taxable. 2008 amended tax return For a discussion of the taxability of these benefits, see Social Security and Equivalent Railroad Retirement Benefits, earlier. 2008 amended tax return Other compensation. 2008 amended tax return   Many other amounts you receive as compensation for sickness or injury are not taxable. 2008 amended tax return These include the following amounts. 2008 amended tax return Benefits you receive under an accident or health insurance policy on which either you paid the premiums or your employer paid the premiums but you had to include them in your income. 2008 amended tax return Disability benefits you receive for loss of income or earning capacity as a result of injuries under a no-fault car insurance policy. 2008 amended tax return Compensation you receive for permanent loss or loss of use of a part or function of your body, for your permanent disfigurement, or for such loss or disfigurement suffered by your spouse or dependent(s). 2008 amended tax return This compensation must be based only on the injury and not on the period of your absence from work. 2008 amended tax return These benefits are not taxable even if your employer pays for the accident and health plan that provides these benefits. 2008 amended tax return Life Insurance Proceeds Life insurance proceeds paid to you because of the death of the insured person are not taxable unless the policy was turned over to you for a price. 2008 amended tax return This is true even if the proceeds were paid under an accident or health insurance policy or an endowment contract. 2008 amended tax return Proceeds not received in installments. 2008 amended tax return   If death benefits are paid to you in a lump sum or other than at regular intervals, include in your income only the benefits that are more than the amount payable to you at the time of the insured person's death. 2008 amended tax return If the benefit payable at death is not specified, you include in your income the benefit payments that are more than the present value of the payments at the time of death. 2008 amended tax return Proceeds received in installments. 2008 amended tax return   If you receive life insurance proceeds in installments, you can exclude part of each installment from your income. 2008 amended tax return   To determine the excluded part, divide the amount held by the insurance company (generally the total lump sum payable at the death of the insured person) by the number of installments to be paid. 2008 amended tax return Include anything over this excluded part in your income as interest. 2008 amended tax return Installments for life. 2008 amended tax return   If, as the beneficiary under an insurance contract, you are entitled to receive the proceeds in installments for the rest of your life without a refund or period-certain guarantee, you figure the excluded part of each installment by dividing the amount held by the insurance company by your life expectancy. 2008 amended tax return If there is a refund or period-certain guarantee, the amount held by the insurance company for this purpose is reduced by the actuarial value of the guarantee. 2008 amended tax return Surviving spouse. 2008 amended tax return   If your spouse died before October 23, 1986, and insurance proceeds paid to you because of the death of your spouse are received in installments, you can exclude, in any year, up to $1,000 of the interest included in the installments. 2008 amended tax return If you remarry, you can continue to take the exclusion. 2008 amended tax return Surrender of policy for cash. 2008 amended tax return   If you surrender a life insurance policy for cash, you must include in income any proceeds that are more than the cost of the life insurance policy. 2008 amended tax return In general, your cost (or investment in the contract) is the total of premiums that you paid for the life insurance policy, less any refunded premiums, rebates, dividends, or unrepaid loans that were not included in your income. 2008 amended tax return You should receive a Form 1099-R showing the total proceeds and the taxable part. 2008 amended tax return Report these amounts on Form 1040, lines 16a and 16b; Form 1040A, lines 12a and 12b; or Form 1040NR, lines 17a and 17b. 2008 amended tax return Endowment Contract Proceeds An endowment contract is a policy that pays over to you a specified amount of money on a certain date unless you die before that date, in which case, the money is paid to your designated beneficiary. 2008 amended tax return Endowment proceeds paid in a lump sum to you at maturity are taxable only if the proceeds are more than the cost of the policy. 2008 amended tax return To determine your cost, subtract from the total premiums (or other consideration) paid for the contract any amount that you previously received under the contract and excluded from your income. 2008 amended tax return Include in your income the part of the lump-sum payment that is more than your cost. 2008 amended tax return Endowment proceeds that you choose to receive in installments instead of a lump-sum payment at the maturity of the policy are taxed as an annuity. 2008 amended tax return The tax treatment of an annuity is explained in Publication 575. 2008 amended tax return For this treatment to apply, you must choose to receive the proceeds in installments before receiving any part of the lump sum. 2008 amended tax return This election must be made within 60 days after the lump-sum payment first becomes payable to you. 2008 amended tax return Accelerated Death Benefits Certain amounts paid as accelerated death benefits under a life insurance contract or viatical settlement before the insured's death are generally excluded from income if the insured is terminally or chronically ill. 2008 amended tax return However, see Exception , later. 2008 amended tax return For a chronically ill individual, accelerated death benefits paid on the basis of costs incurred for qualified long-term care services are fully excludable. 2008 amended tax return Accelerated death benefits paid on a per diem or other periodic basis without regard to the costs are excludable up to a limit. 2008 amended tax return In addition, if any portion of a death benefit under a life insurance contract on the life of a terminally or chronically ill individual is sold or assigned to a viatical settlement provider, the amount received also is excluded from income. 2008 amended tax return Generally, a viatical settlement provider is one who regularly engages in the business of buying or taking assignment of life insurance contracts on the lives of insured individuals who are terminally or chronically ill. 2008 amended tax return To report taxable accelerated death benefits made on a per diem or other periodic basis, you must file Form 8853, Archer MSAs and Long-Term Care Insurance Contracts, with your return. 2008 amended tax return Terminally or chronically ill defined. 2008 amended tax return   A terminally ill person is one who has been certified by a physician as having an illness or physical condition that reasonably can be expected to result in death within 24 months from the date of the certification. 2008 amended tax return A chronically ill person is one who is not terminally ill but has been certified (within the previous 12 months) by a licensed health care practitioner as meeting either of the following conditions. 2008 amended tax return The person is unable to perform (without substantial help) at least two activities of daily living (eating, toileting, transferring, bathing, dressing, and continence) for a period of 90 days or more because of a loss of functional capacity. 2008 amended tax return The person requires substantial supervision to protect himself or herself from threats to health and safety due to severe cognitive impairment. 2008 amended tax return Exception. 2008 amended tax return   The exclusion does not apply to any amount paid to a person other than the insured if that other person has an insurable interest in the life of the insured because the insured: Is a director, officer, or employee of the other person, or Has a financial interest in the business of the other person. 2008 amended tax return Sale of Home You may be able to exclude from income any gain up to $250,000 ($500,000 on a joint return in most cases) on the sale of your main home. 2008 amended tax return Generally, if you can exclude all of the gain, you do not need to report the sale on your tax return. 2008 amended tax return You can choose not to take the exclusion by including the gain from the sale in your gross income on your tax return for the year of the sale. 2008 amended tax return Main home. 2008 amended tax return   Usually, your main home is the home you live in most of the time and can be a: House, Houseboat, Mobile home, Cooperative apartment, or Condominium. 2008 amended tax return Repaying the first-time homebuyer credit because you sold your home. 2008 amended tax return   If you claimed a first-time homebuyer credit for your main home and you sell it, you may have to repay the credit. 2008 amended tax return For a home purchased in 2008 and used as your main home until sold in 2013, you must file Form 5405 and repay the balance of the unpaid credit on your 2013 tax return. 2008 amended tax return   For a home purchased after 2008, you generally must repay the entire credit if the home was sold (or otherwise ceased to be your main home) within 36 months of the purchase date. 2008 amended tax return If you purchased your home in 2009 and used it as your main home until sold in 2013, you do not have to repay the credit or file Form 5405. 2008 amended tax return If you purchased your home in 2010 and used it as your main home until sold in 2013, you may have to file Form 5405 and repay the entire credit on your 2013 tax return. 2008 amended tax return   See the Instructions for Form 5405 for more information about repaying the credit and exceptions to repayment that may apply to you. 2008 amended tax return Maximum Amount of Exclusion You can generally exclude up to $250,000 of the gain (other than gain allocated to periods of nonqualified use) on the sale of your main home if all of the following are true. 2008 amended tax return You meet the ownership test. 2008 amended tax return You meet the use test. 2008 amended tax return During the 2-year period ending on the date of the sale, you did not exclude gain from the sale of another home. 2008 amended tax return You may be able to exclude up to $500,000 of the gain (other than gain allocated to periods of nonqualified use) on the sale of your main home if you are married and file a joint return and meet the requirements listed in the discussion of the special rules for joint returns, later, under Married Persons . 2008 amended tax return Ownership and Use Tests To claim the exclusion, you must meet the ownership and use tests. 2008 amended tax return This means that during the 5-year period ending on the date of the sale, you must have: Owned the home for at least 2 years (the ownership test), and Lived in the home as your main home for at least 2 years (the use test). 2008 amended tax return Exception to ownership and use tests. 2008 amended tax return   If you owned and lived in the property as your main home for less than 2 years, you still can claim an exclusion in some cases. 2008 amended tax return Generally, you must have sold the home due to a change in place of employment, health, or unforeseen circumstances. 2008 amended tax return The maximum amount you can exclude will be reduced. 2008 amended tax return See Publication 523, Selling Your Home, for more information. 2008 amended tax return Exception to use test for individuals with a disability. 2008 amended tax return   There is an exception to the use test if, during the 5-year period before the sale of your home: You become physically or mentally unable to care for yourself, and You owned and lived in your home as your main home for a total of at least 1 year. 2008 amended tax return Under this exception, you are considered to live in your home during any time that you own the home and live in a facility (including a nursing home) that is licensed by a state or political subdivision to care for persons in your condition. 2008 amended tax return   If you meet this exception to the use test, you still have to meet the 2-out-of-5-year ownership test to claim the exclusion. 2008 amended tax return Exception to ownership test for property acquired in a like-kind exchange. 2008 amended tax return   You must have owned your main home for at least 5 years to qualify for the exclusion if you acquired your main home in a like-kind exchange. 2008 amended tax return This special 5-year ownership rule continues to apply to a home you acquired in a like-kind exchange and gave to another person. 2008 amended tax return A like-kind exchange is an exchange of property held for productive use in a trade or business or for investment. 2008 amended tax return See Publication 523 for more information. 2008 amended tax return Period of nonqualified use. 2008 amended tax return   Generally, the gain from the sale or exchange of your main home will not qualify for the exclusion to the extent that the gain is allocated to periods of nonqualified use. 2008 amended tax return Nonqualified use is any period after December 31, 2008, during which the property is not used as the main home. 2008 amended tax return See Publication 523 for more information. 2008 amended tax return Married Persons In the special situations discussed below, if you and your spouse file a joint return for the year of sale and one spouse meets the ownership and use test, you can exclude up to $250,000 of gain. 2008 amended tax return However, see Special rules for joint returns , next. 2008 amended tax return Special rules for joint returns. 2008 amended tax return   You can exclude up to $500,000 of the gain on the sale of your main home if all of the following are true. 2008 amended tax return You are married and file a joint return for the year. 2008 amended tax return Either you or your spouse meets the ownership test. 2008 amended tax return Both you and your spouse meet the use test. 2008 amended tax return During the 2-year period ending on the date of the sale, neither you nor your spouse exclude gain from the sale of another home. 2008 amended tax return Sale of home by surviving spouse. 2008 amended tax return   If your spouse died and you did not remarry before the date of sale, you are considered to have owned and lived in the property as your main home during any period of time when your spouse owned and lived in it as a main home. 2008 amended tax return   If you meet all of the following requirements, you may qualify to exclude up to $500,000 of any gain from the sale or exchange of your main home in 2013. 2008 amended tax return The sale or exchange took place no more than 2 years after the date of death of your spouse. 2008 amended tax return You have not remarried. 2008 amended tax return You and your spouse met the use test at the time of your spouse's death. 2008 amended tax return You or your spouse met the ownership test at the time of your spouse's death. 2008 amended tax return Neither you nor your spouse excluded gain from the sale of another home during the last 2 years. 2008 amended tax return Home transferred from spouse. 2008 amended tax return   If your home was transferred to you by your spouse (or former spouse if the transfer was incident to divorce), you are considered to have owned it during any period of time when your spouse owned it. 2008 amended tax return Use of home after divorce. 2008 amended tax return   You are considered to have used property as your main home during any period when: You owned it, and Your spouse or former spouse is allowed to live in it under a divorce or separation instrument and uses it as his or her main home. 2008 amended tax return Business Use or Rental of Home You may be able to exclude gain from the sale of a home that you have used for business or to produce rental income. 2008 amended tax return However, you must meet the ownership and use tests. 2008 amended tax return See Publication 523 for more information. 2008 amended tax return Depreciation after May 6, 1997. 2008 amended tax return   If you were entitled to take depreciation deductions because you used your home for business purposes or as rental property, you cannot exclude the part of your gain equal to any depreciation allowed or allowable as a deduction for periods after May 6, 1997. 2008 amended tax return See Publication 523 for more information. 2008 amended tax return Reporting the Sale Do not report the 2013 sale of your main home on your tax return unless: You have a gain and you do not qualify to exclude all of it, You have a gain and you choose not to exclude it, or You received Form 1099-S. 2008 amended tax return If you have a gain that you cannot or choose not to exclude, if you received a Form 1099-S, or if you have a deductible loss, report the sale on your tax return. 2008 amended tax return Report the sale on Part I or Part II of Form 8949 as a short-term or long-term transaction, depending on how long you owned the home. 2008 amended tax return If you used your home for business or to produce rental income, you may have to use Form 4797, Sales of Business Property, to report the sale of the business or rental part. 2008 amended tax return See Publication 523 for more information. 2008 amended tax return Reverse Mortgages A revers