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2010 Form 1040

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2010 Form 1040

2010 form 1040 37. 2010 form 1040   Other Credits Table of Contents What's New Introduction Useful Items - You may want to see: Nonrefundable CreditsAdoption Credit Alternative Motor Vehicle Credit Alternative Fuel Vehicle Refueling Property Credit Credit to Holders of Tax Credit Bonds Foreign Tax Credit Mortgage Interest Credit Nonrefundable Credit for Prior Year Minimum Tax Plug-in Electric Drive Motor Vehicle Credit Residential Energy Credits Retirement Savings Contributions Credit (Saver's Credit) Refundable CreditsCredit for Tax on Undistributed Capital Gain Health Coverage Tax Credit Credit for Excess Social Security Tax or Railroad Retirement Tax Withheld What's New Adoption credit. 2010 form 1040  The maximum adoption credit is $12,970 for 2013. 2010 form 1040 See Adoption Credit . 2010 form 1040 Plug-in electric vehicle credit. 2010 form 1040  This credit has expired. 2010 form 1040 Credit for prior year minimum tax. 2010 form 1040  The refundable portion of the credit for prior year minimum tax has expired. 2010 form 1040 Excess withholding of social security and railroad retirement tax. 2010 form 1040  Social security tax and tier 1 railroad retirement (RRTA) tax were both withheld during 2013 at a rate of 6. 2010 form 1040 2% of wages up to $113,700. 2010 form 1040 If you worked for more than one employer and had too much social security or RRTA tax withheld during 2013, you may be entitled to a credit for the excess withholding. 2010 form 1040 See Credit for Excess Social Security Tax or Railroad Retirement Tax Withheld . 2010 form 1040 Introduction This chapter discusses the following nonrefundable credits. 2010 form 1040 Adoption credit. 2010 form 1040 Alternative motor vehicle credit. 2010 form 1040 Alternative fuel vehicle refueling property credit. 2010 form 1040 Credit to holders of tax credit bonds. 2010 form 1040 Foreign tax credit. 2010 form 1040 Mortgage interest credit. 2010 form 1040 Nonrefundable credit for prior year minimum tax. 2010 form 1040 Plug-in electric drive motor vehicle credit. 2010 form 1040 Residential energy credits. 2010 form 1040 Retirement savings contributions credit. 2010 form 1040 This chapter also discusses the following refundable credits. 2010 form 1040 Credit for tax on undistributed capital gain. 2010 form 1040 Health coverage tax credit. 2010 form 1040 Credit for excess social security tax or railroad retirement tax withheld. 2010 form 1040 Several other credits are discussed in other chapters in this publication. 2010 form 1040 Child and dependent care credit (chapter 32). 2010 form 1040 Credit for the elderly or the disabled (chapter 33). 2010 form 1040 Child tax credit (chapter 34). 2010 form 1040 Education credits (chapter 35). 2010 form 1040 Earned income credit (chapter 36). 2010 form 1040 Nonrefundable credits. 2010 form 1040   The first part of this chapter, Nonrefundable Credits , covers ten credits that you subtract from your tax. 2010 form 1040 These credits may reduce your tax to zero. 2010 form 1040 If these credits are more than your tax, the excess is not refunded to you. 2010 form 1040 Refundable credits. 2010 form 1040   The second part of this chapter, Refundable Credits , covers three credits that are treated as payments and are refundable to you. 2010 form 1040 These credits are added to the federal income tax withheld and any estimated tax payments you made. 2010 form 1040 If this total is more than your total tax, the excess will be refunded to you. 2010 form 1040 Useful Items - You may want to see: Publication 502 Medical and Dental Expenses 514 Foreign Tax Credit for  Individuals 530 Tax Information for Homeowners 590 Individual Retirement Arrangements (IRAs) Form (and Instructions) 1116 Foreign Tax Credit 2439 Notice to Shareholder of Undistributed Long-Term Capital Gains 5695 Residential Energy Credits 8396 Mortgage Interest Credit 8801 Credit For Prior Year Minimum Tax — Individuals, Estates, and Trusts 8828 Recapture of Federal Mortgage Subsidy 8839 Qualified Adoption Expenses 8880 Credit for Qualified Retirement Savings Contributions 8885 Health Coverage Tax Credit 8910 Alternative Motor Vehicle Credit 8911 Alternative Fuel Vehicle Refueling Property Credit 8912 Credit to Holders of Tax Credit Bonds 8936 Qualified Plug-in Electric Drive Motor Vehicle Credit Nonrefundable Credits The credits discussed in this part of the chapter can reduce your tax. 2010 form 1040 However, if the total of these credits is more than your tax, the excess is not refunded to you. 2010 form 1040 Adoption Credit You may be able to take a tax credit of up to $12,970 for qualified expenses paid to adopt an eligible child. 2010 form 1040 The credit may be allowed for the adoption of a child with special needs even if you do not have any qualified expenses. 2010 form 1040 If your modified adjusted gross income (AGI) is more than $194,580, your credit is reduced. 2010 form 1040 If your modified AGI is $234,580 or more, you cannot take the credit. 2010 form 1040 Qualified adoption expenses. 2010 form 1040   Qualified adoption expenses are reasonable and necessary expenses directly related to, and whose principal purpose is for, the legal adoption of an eligible child. 2010 form 1040 These expenses include: Adoption fees, Court costs, Attorney fees, Travel expenses (including amounts spent for meals and lodging) while away from home, and Re-adoption expenses to adopt a foreign child. 2010 form 1040 Nonqualified expenses. 2010 form 1040   Qualified adoption expenses do not include expenses: That violate state or federal law, For carrying out any surrogate parenting arrangement, For the adoption of your spouse's child, For which you received funds under any federal, state, or local program, Allowed as a credit or deduction under any other federal income tax rule, or Paid or reimbursed by your employer or any other person or organization. 2010 form 1040 Eligible child. 2010 form 1040   The term “eligible child” means any individual: Under 18 years old, or Physically or mentally incapable of caring for himself or herself. 2010 form 1040 Child with special needs. 2010 form 1040   An eligible child is a child with special needs if all three of the following apply. 2010 form 1040 The child was a citizen or resident of the United States (including U. 2010 form 1040 S. 2010 form 1040 possessions) at the time the adoption process began. 2010 form 1040 A state (including the District of Columbia) has determined that the child cannot or should not be returned to his or her parents' home. 2010 form 1040 The state has determined that the child will not be adopted unless assistance is provided to the adoptive parents. 2010 form 1040 Factors used by states to make this determination include: The child's ethnic background, The child's age, Whether the child is a member of a minority or sibling group, and Whether the child has a medical condition or a physical, mental, or emotional handicap. 2010 form 1040 When to take the credit. 2010 form 1040   Generally, until the adoption becomes final, you take the credit in the year after your qualified expenses were paid or incurred. 2010 form 1040 If the adoption becomes final, you take the credit in the year your expenses were paid or incurred. 2010 form 1040 See the Instructions for Form 8839 for more specific information on when to take the credit. 2010 form 1040 Foreign child. 2010 form 1040   If the child is not a U. 2010 form 1040 S. 2010 form 1040 citizen or resident at the time the adoption process began, you cannot take the credit unless the adoption becomes final. 2010 form 1040 You treat all adoption expenses paid or incurred in years before the adoption becomes final as paid or incurred in the year it becomes final. 2010 form 1040 How to take the credit. 2010 form 1040   Figure your 2013 nonrefundable credit and any carryforward to 2014 on Form 8839 and attach it to your Form 1040. 2010 form 1040 Include the credit in your total for Form 1040, line 53. 2010 form 1040 Check box c and enter “8839” on the line next to that box. 2010 form 1040 More information. 2010 form 1040   For more information, see the Instructions for Form 8839. 2010 form 1040 Alternative Motor Vehicle Credit You may be able to take this credit if you place a qualified fuel cell vehicle in service in 2013. 2010 form 1040 Amount of credit. 2010 form 1040   Generally, you can rely on the manufacturer's certification to the IRS that a specific make, model, and model year vehicle qualifies for the credit and the amount of the credit for which it qualifies. 2010 form 1040 In the case of a foreign manufacturer, you generally can rely on its domestic distributor's certification to the IRS. 2010 form 1040   Ordinarily the amount of the credit is 100% of the manufacturer's (or domestic distributor's) certification to the IRS of the maximum credit allowable. 2010 form 1040 How to take the credit. 2010 form 1040   To take the credit, you must complete Form 8910 and attach it to your Form 1040. 2010 form 1040 Include the credit in your total for Form 1040, line 53. 2010 form 1040 Check box c and enter “8910” on the line next to that box. 2010 form 1040 More information. 2010 form 1040   For more information on the credit, see the Instructions for Form 8910. 2010 form 1040 Alternative Fuel Vehicle Refueling Property Credit You may be able to take a credit if you place qualified alternative fuel vehicle refueling property in service in 2013. 2010 form 1040 Qualified alternative fuel vehicle refueling property. 2010 form 1040   Qualified alternative fuel vehicle refueling property is any property (other than a building or its structural components) used for either of the following. 2010 form 1040 To store or dispense alternative fuel into the fuel tank of a motor vehicle propelled by the fuel, but only if the storage or dispensing is at the point where the fuel is delivered into that tank. 2010 form 1040 To recharge an electric vehicle, but only if the recharging property is located at the point where the vehicle is recharged. 2010 form 1040   The following are alternative fuels. 2010 form 1040 Any fuel at least 85% of the volume of which consists of one or more of the following: ethanol, natural gas, compressed natural gas, liquefied natural gas, liquefied petroleum gas, or hydrogen. 2010 form 1040 Any mixture which consists of two or more of the following: biodiesel, diesel fuel, or kerosene, and at least 20% of the volume of which consists of biodiesel determined without regard to any kerosene. 2010 form 1040 Electricity. 2010 form 1040 Amount of the credit. 2010 form 1040   For personal use property, the credit is generally the smaller of 30% of the property's cost or $1,000. 2010 form 1040 For business use property, the credit is generally the smaller of 30% of the property's cost or $30,000. 2010 form 1040 How to take the credit. 2010 form 1040   To take the credit, you must complete Form 8911 and attach it to your Form 1040. 2010 form 1040 Include the credit in your total for Form 1040, line 53. 2010 form 1040 Check box c and enter “8911” on the line next to that box. 2010 form 1040 More information. 2010 form 1040   For more information on the credit, see the Form 8911 instructions. 2010 form 1040 Credit to Holders of Tax Credit Bonds Tax credit bonds are bonds in which the holder receives a tax credit in lieu of some or all of the interest on the bond. 2010 form 1040 You may be able to take a credit if you are a holder of one of the following bonds. 2010 form 1040 Clean renewable energy bonds (issued before 2010). 2010 form 1040 New clean renewable energy bonds. 2010 form 1040 Qualified energy conservation bonds. 2010 form 1040 Qualified school construction bonds. 2010 form 1040 Qualified zone academy bonds. 2010 form 1040 Build America bonds. 2010 form 1040 In some instances, an issuer may elect to receive a credit for interest paid on the bond. 2010 form 1040 If the issuer makes this election, you cannot also claim a credit. 2010 form 1040 Interest income. 2010 form 1040   The amount of any tax credit allowed (figured before applying tax liability limits) must be included as interest income on your tax return. 2010 form 1040 How to take the credit. 2010 form 1040   Complete Form 8912 and attach it to your Form 1040. 2010 form 1040 Include the credit in your total for Form 1040, line 53. 2010 form 1040 Check box c and enter “8912” on the line next to that box. 2010 form 1040 More information. 2010 form 1040   For more information, see the Instructions for Form 8912. 2010 form 1040 Foreign Tax Credit You generally can choose to take income taxes you paid or accrued during the year to a foreign country or U. 2010 form 1040 S. 2010 form 1040 possession as a credit against your U. 2010 form 1040 S. 2010 form 1040 income tax. 2010 form 1040 Or, you can deduct them as an itemized deduction (see chapter 22). 2010 form 1040 You cannot take a credit (or deduction) for foreign income taxes paid on income that you exclude from U. 2010 form 1040 S. 2010 form 1040 tax under any of the following. 2010 form 1040 Foreign earned income exclusion. 2010 form 1040 Foreign housing exclusion. 2010 form 1040 Income from Puerto Rico exempt from U. 2010 form 1040 S. 2010 form 1040 tax. 2010 form 1040 Possession exclusion. 2010 form 1040 Limit on the credit. 2010 form 1040   Unless you can elect not to file Form 1116 (see Exception , later), your foreign tax credit cannot be more than your U. 2010 form 1040 S. 2010 form 1040 tax liability (Form 1040, line 44), multiplied by a fraction. 2010 form 1040 The numerator of the fraction is your taxable income from sources outside the United States. 2010 form 1040 The denominator is your total taxable income from U. 2010 form 1040 S. 2010 form 1040 and foreign sources. 2010 form 1040 See Publication 514 for more information. 2010 form 1040 How to take the credit. 2010 form 1040   Complete Form 1116 and attach it to your Form 1040. 2010 form 1040 Enter the credit on Form 1040, line 47. 2010 form 1040 Exception. 2010 form 1040   You do not have to complete Form 1116 to take the credit if all of the following apply. 2010 form 1040 All of your gross foreign source income was from interest and dividends and all of that income and the foreign tax paid on it were reported to you on Form 1099-INT, Form 1099-DIV, or Schedule K-1 (or substitute statement). 2010 form 1040 If you had dividend income from shares of stock, you held those shares for at least 16 days. 2010 form 1040 You are not filing Form 4563 or excluding income from sources within Puerto Rico. 2010 form 1040 The total of your foreign taxes was not more than $300 (not more than $600 if married filing jointly). 2010 form 1040 All of your foreign taxes were: Legally owed and not eligible for a refund, and Paid to countries that are recognized by the United States and do not support terrorism. 2010 form 1040 More information. 2010 form 1040   For more information on the credit and these requirements, see the Instructions for Form 1116. 2010 form 1040 Mortgage Interest Credit The mortgage interest credit is intended to help lower-income individuals own a home. 2010 form 1040 If you qualify, you can take the credit each year for part of the home mortgage interest you pay. 2010 form 1040 Who qualifies. 2010 form 1040   You may be eligible for the credit if you were issued a qualified mortgage credit certificate (MCC) from your state or local government. 2010 form 1040 Generally, an MCC is issued only in connection with a new mortgage for the purchase of your main home. 2010 form 1040 Amount of credit. 2010 form 1040   Figure your credit on Form 8396. 2010 form 1040 If your mortgage loan amount is equal to (or smaller than) the certified indebtedness (loan) amount shown on your MCC, enter on Form 8396, line 1, all the interest you paid on your mortgage during the year. 2010 form 1040   If your mortgage loan amount is larger than the certified indebtedness amount shown on your MCC, you can figure the credit on only part of the interest you paid. 2010 form 1040 To find the amount to enter on line 1, multiply the total interest you paid during the year on your mortgage by the following fraction. 2010 form 1040      Certified indebtedness amount on your MCC     Original amount of your mortgage   Limit based on credit rate. 2010 form 1040   If the certificate credit rate is more than 20%, the credit you are allowed cannot be more than $2,000. 2010 form 1040 If two or more persons (other than a married couple filing a joint return) hold an interest in the home to which the MCC relates, this $2,000 limit must be divided based on the interest held by each person. 2010 form 1040 See Publication 530 for more information. 2010 form 1040 Carryforward. 2010 form 1040   Your credit (after applying the limit based on the credit rate) is also subject to a limit based on your tax that is figured using Form 8396. 2010 form 1040 If your allowable credit is reduced because of this tax liability limit, you can carry forward the unused portion of the credit to the next 3 years or until used, whichever comes first. 2010 form 1040   If you are subject to the $2,000 limit because your certificate credit rate is more than 20%, you cannot carry forward any amount more than $2,000 (or your share of the $2,000 if you must divide the credit). 2010 form 1040 How to take the credit. 2010 form 1040    Figure your 2013 credit and any carryforward to 2014 on Form 8396, and attach it to your Form 1040. 2010 form 1040 Be sure to include any credit carryforward from 2010, 2011, and 2012. 2010 form 1040   Include the credit in your total for Form 1040, line 53. 2010 form 1040 Check box c and enter “8396” on the line next to that box. 2010 form 1040 Reduced home mortgage interest deduction. 2010 form 1040   If you itemize your deductions on Schedule A (Form 1040), you must reduce your home mortgage interest deduction by the amount of the mortgage interest credit shown on Form 8396, line 3. 2010 form 1040 You must do this even if part of that amount is to be carried forward to 2014. 2010 form 1040 For more information about the home mortgage interest deduction, see chapter 23. 2010 form 1040 Recapture of federal mortgage subsidy. 2010 form 1040   If you received an MCC with your mortgage loan, you may have to recapture (pay back) all or part of the benefit you received from that program. 2010 form 1040 The recapture may be required if you sell or dispose of your home at a gain during the first 9 years after the date you closed your mortgage loan. 2010 form 1040 See the Instructions for Form 8828 and chapter 15 for more information. 2010 form 1040 More information. 2010 form 1040   For more information on the credit, see the Form 8396 instructions. 2010 form 1040 Nonrefundable Credit for Prior Year Minimum Tax The tax laws give special treatment to some kinds of income and allow special deductions and credits for some kinds of expenses. 2010 form 1040 If you benefit from these laws, you may have to pay at least a minimum amount of tax in addition to any other tax on these items. 2010 form 1040 This is called the alternative minimum tax. 2010 form 1040 The special treatment of some items of income and expenses only allows you to postpone paying tax until a later year. 2010 form 1040 If in prior years you paid alternative minimum tax because of these tax postponement items, you may be able to take a credit for prior year minimum tax against your current year's regular tax. 2010 form 1040 You may be able to take a credit against your regular tax if for 2012 you had: An alternative minimum tax liability and adjustments or preferences other than exclusion items, A minimum tax credit that you are carrying forward to 2013, or An unallowed qualified electric vehicle credit. 2010 form 1040 How to take the credit. 2010 form 1040    Figure your 2013 nonrefundable credit (if any), and any carryforward to 2014 on Form 8801, and attach it to your Form 1040. 2010 form 1040 Include the credit in your total for Form 1040, line 53, and check box b. 2010 form 1040 You can carry forward any unused credit for prior year minimum tax to later years until it is completely used. 2010 form 1040 More information. 2010 form 1040   For more information on the credit, see the Instructions for Form 8801. 2010 form 1040 Plug-in Electric Drive Motor Vehicle Credit You may be able to take this credit if you placed in service for business or personal use a qualified plug-in electric drive motor vehicle or a qualified two- or three-wheeled plug-in electric vehicle in 2013 and you meet some other requirements. 2010 form 1040 Qualified plug-in electric drive motor vehicle. 2010 form 1040   This is a new vehicle with at least four wheels that: Is propelled to a significant extent by an electric motor that draws electricity from a battery that has a capacity of not less than 4 kilowatt hours and is capable of being recharged from an external source of electricity, and Has a gross vehicle weight of less than 14,000 pounds. 2010 form 1040 Qualified two- or three-wheeled plug-in electric vehicle. 2010 form 1040   This is a new vehicle with two or three wheels that: Is capable of achieving a speed of 45 miles per hour or greater, Is propelled to a significant extent by an electric motor that draws electricity from a battery that has a capacity of not less than 2. 2010 form 1040 5 kilowatt hours and is capable of being recharged from an external source of electricity, and Has a gross vehicle weight of less than 14,000 pounds. 2010 form 1040 Certification and other requirements. 2010 form 1040   Generally, you can rely on the manufacturer's (or, in the case of a foreign manufacturer, its domestic distributor's) certification to the IRS that a specific make, model, and model year vehicle qualifies for the credit and, if applicable, the amount of the credit for which it qualifies. 2010 form 1040 However, if the IRS publishes an announcement that the certification for any specific make, model, and model year vehicle has been withdrawn, you cannot rely on the certification for such a vehicle purchased after the date of publication of the withdrawal announcement. 2010 form 1040   The following requirements must also be met to qualify for the credit. 2010 form 1040 You are the owner of the vehicle. 2010 form 1040 If the vehicle is leased, only the lessor, and not the lessee, is entitled to the credit. 2010 form 1040 You placed the vehicle in service during 2013. 2010 form 1040 The vehicle is manufactured primarily for use on public streets, roads, and highways. 2010 form 1040 The original use of the vehicle began with you. 2010 form 1040 You acquired the vehicle for your use or to lease to others, and not for resale. 2010 form 1040 In the case of the qualified two- or three-wheeled plug-in electric vehicle, the vehicle is acquired after 2011 and before 2014. 2010 form 1040 You use the vehicle primarily in the United States. 2010 form 1040 How to take the credit. 2010 form 1040   To take the credit, you must complete Form 8936 and attach it to your Form 1040. 2010 form 1040 Include the credit in your total for Form 1040, line 53. 2010 form 1040 Check box c and enter “8936” on the line next to that box. 2010 form 1040 More information. 2010 form 1040   For more information on the credit, see the Form 8936 instructions. 2010 form 1040 Residential Energy Credits You may be able to take one or both of the following credits if you made energy saving improvements to your home located in the United States in 2013. 2010 form 1040 Nonbusiness energy property credit. 2010 form 1040 Residential energy efficient property credit. 2010 form 1040 If you are a member of a condominium management association for a condominium you own or a tenant-stockholder in a cooperative housing corporation, you are treated as having paid your proportionate share of any costs of the association or corporation for purposes of these credits. 2010 form 1040 Nonbusiness energy property credit. 2010 form 1040   You may be able to take a credit equal to the sum of: 10% of the amount paid or incurred for qualified energy efficiency improvements installed during 2013, and Any residential energy property costs paid or incurred in 2013. 2010 form 1040   There is a lifetime limit of $500 for all years after 2005, of which only $200 can be for windows; $50 for any advanced main air circulating fan; $150 for any qualified natural gas, propane, or oil furnace or hot water boiler; and $300 for any item of energy efficient building property. 2010 form 1040    If the total of nonbusiness energy property credits you have taken in previous years (after 2005) is more than $500, you cannot take this credit in 2013. 2010 form 1040   Qualified energy efficiency improvements are the following improvements that are new, can be expected to remain in use at least 5 years, and meet certain requirements for energy efficiency. 2010 form 1040 Any insulation material or system that is specifically and primarily designed to reduce heat loss or gain of a home. 2010 form 1040 Exterior window (including skylights). 2010 form 1040 Exterior doors. 2010 form 1040 Any metal or asphalt roof that has appropriate pigmented coatings or cooling granules specifically and primarily designed to reduce heat gain of the home. 2010 form 1040   Residential energy property is any of the following. 2010 form 1040 Certain electric heat pump water heaters; electric heat pumps; central air conditioners; natural gas, propane, or oil water heater; and stoves that use biomass fuel. 2010 form 1040 Qualified natural gas, propane, or oil furnaces; and qualified natural gas, propane, or oil hot water boilers. 2010 form 1040 Certain advanced main air circulating fans used in natural gas, propane, or oil furnaces. 2010 form 1040 Residential energy efficient property credit. 2010 form 1040   You may be able to take a credit of 30% of your costs of qualified solar electric property, solar water heating property, fuel cell property, small wind energy property, and geothermal heat pump property. 2010 form 1040 The credit amount for costs paid for qualified fuel cell property is limited to $500 for each one-half kilowatt of capacity of the property. 2010 form 1040 Basis reduction. 2010 form 1040   You must reduce the basis of your home by the amount of any credit allowed. 2010 form 1040 How to take the credit. 2010 form 1040   Complete Form 5695 and attach it to your Form 1040. 2010 form 1040 Enter the credit on Form 1040, line 52. 2010 form 1040 More information. 2010 form 1040   For more information on these credits, see the Form 5695 instructions. 2010 form 1040 Retirement Savings Contributions Credit (Saver's Credit) You may be able to take this credit if you, or your spouse if filing jointly, made: Contributions (other than rollover contributions) to a traditional or Roth IRA, Elective deferrals to a 401(k) or 403(b) plan (including designated Roth contributions) or to a governmental 457, SEP, or SIMPLE plan, Voluntary employee contributions to a qualified retirement plan (including the federal Thrift Savings Plan), or Contributions to a 501(c)(18)(D) plan. 2010 form 1040 However, you cannot take the credit if either of the following applies. 2010 form 1040 The amount on Form 1040, line 38, or Form 1040A, line 22, is more than $29,500 ($44,250 if head of household; $59,000 if married filing jointly). 2010 form 1040 The person(s) who made the qualified contribution or elective deferral (a) was born after January 1, 1996, (b) is claimed as a dependent on someone else's 2013 tax return, or (c) was a student (defined next). 2010 form 1040 Student. 2010 form 1040   You were a student if during any part of 5 calendar months of 2013 you: Were enrolled as a full-time student at a school, or Took a full-time, on-farm training course given by a school or a state, county, or local government agency. 2010 form 1040 School. 2010 form 1040   A school includes a technical, trade, or mechanical school. 2010 form 1040 It does not include an on-the-job training course, correspondence school, or school offering courses only through the Internet. 2010 form 1040 How to take the credit. 2010 form 1040   Figure the credit on Form 8880. 2010 form 1040 Enter the credit on your Form 1040, line 50, or your Form 1040A, line 32, and attach Form 8880 to your return. 2010 form 1040 More information. 2010 form 1040   For more information on the credit, see the Form 8880 instructions. 2010 form 1040 Refundable Credits The credits discussed in this part of the chapter are treated as payments of tax. 2010 form 1040 If the total of these credits, withheld federal income tax, and estimated tax payments is more than your total tax, the excess can be refunded to you. 2010 form 1040 Credit for Tax on Undistributed Capital Gain You must include in your income any amounts that regulated investment companies (commonly called mutual funds) or real estate investment trusts (REITs) allocated to you as capital gain distributions, even if you did not actually receive them. 2010 form 1040 If the mutual fund or REIT paid a tax on the capital gain, you are allowed a credit for the tax since it is considered paid by you. 2010 form 1040 The mutual fund or REIT will send you Form 2439 showing your share of the undistributed capital gains and the tax paid, if any. 2010 form 1040 How to take the credit. 2010 form 1040   To take the credit, attach Copy B of Form 2439 to your Form 1040. 2010 form 1040 Include the amount from box 2 of your Form 2439 in the total for Form 1040, line 71, and check box a. 2010 form 1040 More information. 2010 form 1040   See Capital Gain Distributions in chapter 8 for more information on undistributed capital gains. 2010 form 1040 Health Coverage Tax Credit You may be able to take this credit for any month in which all the following statements were true on the first day of the month. 2010 form 1040 You were an eligible trade adjustment assistance (TAA) recipient, alternative TAA (ATAA) recipient, reemployment TAA (RTAA) recipient, or Pension Benefit Guaranty Corporation (PBGC) pension recipient (defined later); or you were a qualified family member of one of these individuals when the individual died or you finalized a divorce with one of these individuals. 2010 form 1040 You and/or your family members were covered by a qualified health insurance plan for which you paid the entire premiums, or your portion of the premiums, directly to your health plan or to “U. 2010 form 1040 S. 2010 form 1040 Treasury–HCTC. 2010 form 1040 ” You were not enrolled in Medicare Part A, B, or C, or you were enrolled in Medicare but your family member(s) qualified for the HCTC. 2010 form 1040 You were not enrolled in Medicaid or the Children's Health Insurance Program (CHIP). 2010 form 1040 You were not enrolled in the Federal Employees Health Benefits program (FEHBP) or eligible to receive benefits under the U. 2010 form 1040 S. 2010 form 1040 military health system (TRICARE). 2010 form 1040 You were not imprisoned under federal, state, or local authority. 2010 form 1040 Your employer did not pay 50% or more of the cost of coverage. 2010 form 1040 You did not receive a 65% COBRA premium reduction from your former employer or COBRA administrator. 2010 form 1040 But, you cannot take the credit if you can be claimed as a dependent on someone else's 2013 tax return. 2010 form 1040 If you meet all of these conditions, you may be able to take a credit of up to 72. 2010 form 1040 5% of the amount you paid directly to a qualified health plan for you and any qualifying family members. 2010 form 1040 You cannot take the credit for insurance premiums on coverage that was actually paid for with a National Emergency Grant. 2010 form 1040 The amount you paid for qualified health insurance coverage must be reduced by any Archer MSA and health savings account distributions used to pay for the coverage. 2010 form 1040 You can take this credit on your tax return or have it paid on your behalf in advance to your insurance company. 2010 form 1040 If the credit is paid on your behalf in advance, that amount will reduce the amount of the credit you can take on your tax return. 2010 form 1040 TAA recipient. 2010 form 1040   You were an eligible TAA recipient on the first day of the month if, for any day in that month or the prior month, you: Received a trade readjustment allowance, or Would have been entitled to receive such an allowance except that you had not exhausted all rights to any unemployment insurance (except additional compensation that is funded by a state and is not reimbursed from any federal funds) to which you were entitled (or would be entitled if you applied). 2010 form 1040 Example. 2010 form 1040 You received a trade adjustment allowance for January 2013. 2010 form 1040 You were an eligible TAA recipient on the first day of January and February. 2010 form 1040 Alternative TAA recipient. 2010 form 1040   You were an eligible alternative TAA recipient on the first day of the month if, for that month or the prior month, you received benefits under an alternative trade adjustment assistance program for older workers established by the Department of Labor. 2010 form 1040 Example. 2010 form 1040 You received benefits under an alternative trade adjustment assistance program for older workers for October 2013. 2010 form 1040 The program was established by the Department of Labor. 2010 form 1040 You were an eligible alternative TAA recipient on the first day of October and November. 2010 form 1040 RTAA recipient. 2010 form 1040   You were an eligible RTAA recipient on the first day of the month if, for that month or the prior month, you received benefits under a reemployment trade adjustment assistance program for older workers established by the Department of Labor. 2010 form 1040 PBGC pension recipient. 2010 form 1040   You were an eligible PBGC pension recipient on the first day of the month, if both of the following apply. 2010 form 1040 You were age 55 or older on the first day of the month. 2010 form 1040 You received a benefit for that month paid by the PBGC under title IV of the Employee Retirement Income Security Act of 1974 (ERISA). 2010 form 1040 If you received a lump-sum payment from the PBGC after August 5, 2002, you meet item (2) above for any month that you would have received a PBGC benefit if you had not received the lump-sum payment. 2010 form 1040 How to take the credit. 2010 form 1040   To take the credit, complete Form 8885 and attach it to your Form 1040. 2010 form 1040 Include your credit in the total for Form 1040, line 71, and check box c. 2010 form 1040   You must attach health insurance bills (or COBRA payment coupons) and proof of payment for any amounts you include on Form 8885, line 2. 2010 form 1040 For details, see Publication 502 or Form 8885. 2010 form 1040 More information. 2010 form 1040   For definitions and special rules, including those relating to qualified health insurance plans, qualifying family members, the effect of certain life events, and employer-sponsored health insurance plans, see Publication 502 and the Form 8885 instructions. 2010 form 1040 Credit for Excess Social Security Tax or Railroad Retirement Tax Withheld Most employers must withhold social security tax from your wages. 2010 form 1040 If you work for a railroad employer, that employer must withhold tier 1 railroad retirement (RRTA) tax and tier 2 RRTA tax. 2010 form 1040 If you worked for two or more employers in 2013, you may have had too much social security tax withheld from your pay. 2010 form 1040 If one or more of those employers was a railroad employer, too much tier 1 RRTA tax may also have been withheld at the 6. 2010 form 1040 2% rate. 2010 form 1040 You can claim the excess social security or tier 1 RRTA tax as a credit against your income tax when you file your return. 2010 form 1040 For the tier 1 RRTA tax, only use the portion of the tier 1 RRTA tax that was taxed at the 6. 2010 form 1040 2% rate when figuring if excess tier 1 RRTA tax was withheld; do not include any portion of the tier 1 RRTA tax that was withheld at the Medicare tax rate (1. 2010 form 1040 45%) or the Additional Medicare Tax rate (. 2010 form 1040 9%). 2010 form 1040 The following table shows the maximum amount of wages subject to tax and the maximum amount of tax that should have been withheld for 2013. 2010 form 1040 Type of tax Maximum  wages subject to tax Maximum tax that should have been withheld Social security or RRTA tier 1 $113,700 $7,049. 2010 form 1040 40 RRTA tier 2 $84,300 $3,709. 2010 form 1040 20 All wages are subject to Medicare tax withholding. 2010 form 1040   Use Form 843, Claim for Refund and Request for Abatement, to claim a refund of excess tier 2 RRTA tax. 2010 form 1040 Be sure to attach a copy of all of your W-2 forms. 2010 form 1040 Use Worksheet 3-3 in Publication 505, Tax Withholding and Estimated Tax, to help you figure the excess amount. 2010 form 1040 Employer's error. 2010 form 1040   If any one employer withheld too much social security or tier 1 RRTA tax, you cannot take the excess as a credit against your income tax. 2010 form 1040 The employer should adjust the tax for you. 2010 form 1040 If the employer does not adjust the overcollection, you can file a claim for refund using Form 843. 2010 form 1040 Joint return. 2010 form 1040   If you are filing a joint return, you cannot add the social security or tier 1 RRTA tax withheld from your spouse's wages to the amount withheld from your wages. 2010 form 1040 Figure the withholding separately for you and your spouse to determine if either of you has excess withholding. 2010 form 1040 How to figure the credit if you did not work for a railroad. 2010 form 1040   If you did not work for a railroad during 2013, figure the credit as follows: 1. 2010 form 1040 Add all social security tax withheld (but not more than $7,049. 2010 form 1040 40 for each employer). 2010 form 1040 Enter the total here   2. 2010 form 1040 Enter any uncollected social security tax on tips or group-term life insurance included in the total on Form 1040, line 60, identified by “UT”   3. 2010 form 1040 Add lines 1 and 2. 2010 form 1040 If $7,049. 2010 form 1040 40 or less, stop here. 2010 form 1040 You cannot take  the credit   4. 2010 form 1040 Social security tax limit 7,049. 2010 form 1040 40 5. 2010 form 1040 Credit. 2010 form 1040 Subtract line 4 from line 3. 2010 form 1040 Enter the result here and on Form 1040, line 69 (or Form 1040A, line 41) $ Example. 2010 form 1040 You are married and file a joint return with your spouse who had no gross income in 2013. 2010 form 1040 During 2013, you worked for the Brown Technology Company and earned $60,000 in wages. 2010 form 1040 Social security tax of $3,720 was withheld. 2010 form 1040 You also worked for another employer in 2013 and earned $55,000 in wages. 2010 form 1040 $3,410 of social security tax was withheld from these wages. 2010 form 1040 Because you worked for more than one employer and your total wages were more than $113,700, you can take a credit of $80. 2010 form 1040 60 for the excess social security tax withheld. 2010 form 1040 1. 2010 form 1040 Add all social security tax withheld (but not more than $7,049. 2010 form 1040 40 for each employer). 2010 form 1040 Enter the total here $7,130. 2010 form 1040 00 2. 2010 form 1040 Enter any uncollected social security tax on tips or group-term life insurance included in the total on Form 1040, line 60, identified by “UT” -0- 3. 2010 form 1040 Add lines 1 and 2. 2010 form 1040 If $7,049. 2010 form 1040 40 or less, stop here. 2010 form 1040 You cannot take the credit 7,130. 2010 form 1040 00 4. 2010 form 1040 Social security tax limit 7,049. 2010 form 1040 40 5. 2010 form 1040 Credit. 2010 form 1040 Subtract line 4 from line 3. 2010 form 1040 Enter the result here and on Form 1040, line 69 (or Form 1040A, line 41) $80. 2010 form 1040 60 How to figure the credit if you worked for a railroad. 2010 form 1040   If you were a railroad employee at any time during 2013, figure the credit as follows: 1. 2010 form 1040 Add all social security and tier 1 RRTA tax withheld at the 6. 2010 form 1040 2% rate (but not more than $7,049. 2010 form 1040 40 for each employer). 2010 form 1040 Enter the total here   2. 2010 form 1040 Enter any uncollected social security and tier 1 RRTA tax on tips or group-term life insurance included in the total on Form 1040, line 60, identified by “UT”   3. 2010 form 1040 Add lines 1 and 2. 2010 form 1040 If $7,049. 2010 form 1040 40 or less, stop here. 2010 form 1040 You cannot take  the credit   4. 2010 form 1040 Social security and tier 1 RRTA  tax limit 7,049. 2010 form 1040 40 5. 2010 form 1040 Credit. 2010 form 1040 Subtract line 4 from line 3. 2010 form 1040 Enter the result here and on Form 1040, line 69 (or Form 1040A, line 41) $ How to take the credit. 2010 form 1040   Enter the credit on Form 1040, line 69, or include it in the total for Form 1040A, line 41. 2010 form 1040 More information. 2010 form 1040   For more information on the credit, see Publication 505. 2010 form 1040 Prev  Up  Next   Home   More Online Publications
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American Recipes

Our cooking reflects the great diversity of our country. Try some classic American recipes today.

Recipes from Famous Americans

Healthy Recipes

  • Diabetes Recipes (PDF)  – Tasty Recipes for People with Diabetes and Their Families is a book filled with healthy Latin American recipes.
  • Farmer's Market Recipes  – Ideas to prepare seasonal food found at the farmers' market.
  • Healthy Recipes  – Healthy meals for you and your family.
  • Heart Healthy Recipes  – Heart healthy recipes from appetizers to dessert.

Kids' Recipes

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Cooking for a Crowd

Regional Recipes

  • Jersey Fresh Recipes  – Recipe ideas for fresh, seasonal produce.
  • International Recipes  – Americans trace their family origins to countries around the world. These ethnic traditions are reflected in the diversity of our recipes.

Wild Game Recipes

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The 2010 Form 1040

2010 form 1040 Publication 550 - Introductory Material Table of Contents Future Developments What's New Reminders IntroductionOrdering forms and publications. 2010 form 1040 Tax questions. 2010 form 1040 Future Developments For the latest information about developments related to Publication 550, such as legislation enacted after it was published, go to www. 2010 form 1040 irs. 2010 form 1040 gov/pub550. 2010 form 1040 What's New Net investment income tax (NIIT). 2010 form 1040  Beginning in 2013, you may be subject to the NIIT. 2010 form 1040 The NIIT applies at a rate of 3. 2010 form 1040 8% to certain net investment income of individuals, estates, and trusts that have income above statutory threshold amounts. 2010 form 1040 See Net investment income tax (NIIT) , later. 2010 form 1040 Maximum capital gain rates. 2010 form 1040  For 2013, the maximum capital gain rates are 0%, 15%, 20%, 25%, and 28%. 2010 form 1040 See Capital Gain Tax Rates , later, for more information. 2010 form 1040 Gift tax exclusion amount increased. 2010 form 1040  For calendar year 2013, the first $14,000 of gifts to any person (other than gifts of future interests in property) are not included in the total amount of taxable gifts. 2010 form 1040 See Property Received as a Gift , later. 2010 form 1040 Reminders Mutual fund distributions. 2010 form 1040  Publication 564, Mutual Fund Distributions, has been incorporated into this publication. 2010 form 1040 Foreign source income. 2010 form 1040  If you are a U. 2010 form 1040 S. 2010 form 1040 citizen with investment income from sources outside the United States (foreign income), you must report that income on your tax return unless it is exempt by U. 2010 form 1040 S. 2010 form 1040 law. 2010 form 1040 This is true whether you reside inside or outside the United States and whether or not you receive a Form 1099 from the foreign payer. 2010 form 1040 Employee stock options. 2010 form 1040  If you received an option to buy or sell stock or other property as payment for your services, see Publication 525, Taxable and Nontaxable Income, for the special tax rules that apply. 2010 form 1040 Photographs of missing children. 2010 form 1040  The Internal Revenue Service is a proud partner with the National Center for Missing and Exploited Children. 2010 form 1040 Photographs of missing children selected by the Center may appear in this publication on pages that would otherwise be blank. 2010 form 1040 You can help bring these children home by looking at the photographs and calling 1-800-THE-LOST (1-800-843-5678) if you recognize a child. 2010 form 1040 Introduction This publication provides information on the tax treatment of investment income and expenses. 2010 form 1040 It includes information on the tax treatment of investment income and expenses for individual shareholders of mutual funds or other regulated investment companies, such as money market funds. 2010 form 1040 It explains what investment income is taxable and what investment expenses are deductible. 2010 form 1040 It explains when and how to show these items on your tax return. 2010 form 1040 It also explains how to determine and report gains and losses on the disposition of investment property and provides information on property trades and tax shelters. 2010 form 1040 The glossary at the end of this publication defines many of the terms used. 2010 form 1040 Investment income. 2010 form 1040   This generally includes interest, dividends, capital gains, and other types of distributions including mutual fund distributions. 2010 form 1040 Investment expenses. 2010 form 1040   These include interest paid or incurred to acquire investment property and expenses to manage or collect income from investment property. 2010 form 1040 Qualified retirement plans and IRAs. 2010 form 1040   The rules in this publication do not apply to mutual fund shares held in individual retirement arrangements (IRAs), section 401(k) plans, and other qualified retirement plans. 2010 form 1040 The value of the mutual fund shares and earnings allocated to you are included in your retirement plan assets and stay tax free generally until the plan distributes them to you. 2010 form 1040 The tax rules that apply to retirement plan distributions are explained in the following publications. 2010 form 1040 Publication 560, Retirement Plans for Small Business. 2010 form 1040 Publication 571, Tax-Sheltered Annuity Plans. 2010 form 1040 Publication 575, Pension and Annuity Income. 2010 form 1040 Publication 590, Individual Retirement Arrangements (IRAs). 2010 form 1040 Publication 721, Tax Guide to U. 2010 form 1040 S. 2010 form 1040 Civil Service Retirement Benefits. 2010 form 1040    Comments and suggestions. 2010 form 1040   We welcome your comments about this publication and your suggestions for future editions. 2010 form 1040   You can write to us at the following address: Internal Revenue Service Tax Forms and Publications Division 1111 Constitution Ave. 2010 form 1040 NW, IR-6526 Washington, DC 20224   We respond to many letters by telephone. 2010 form 1040 Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your correspondence. 2010 form 1040   You can send your comments from www. 2010 form 1040 irs. 2010 form 1040 gov/formspubs/. 2010 form 1040 Click on “More Information” and then on “Comment on Tax Forms and Publications. 2010 form 1040 ”   Although we cannot respond individually to each comment received, we do appreciate your feedback and will consider your comments as we revise our tax products. 2010 form 1040 Ordering forms and publications. 2010 form 1040   Visit www. 2010 form 1040 irs. 2010 form 1040 gov/formspubs/ to download forms and publications, call 1-800-TAX-FORM (1-800-829-3676), or write to the address below and receive a response within 10 days after your request is received. 2010 form 1040 Internal Revenue Service 1201 N. 2010 form 1040 Mitsubishi Motorway Bloomington, IL 61705-6613 Tax questions. 2010 form 1040   If you have a tax question, check the information available on IRS. 2010 form 1040 gov or call 1-800-829-1040. 2010 form 1040 We cannot answer tax questions sent to either of the above addresses. 2010 form 1040 Prev  Up  Next   Home   More Online Publications